everyone has their own unique views and needs when it comes to financial success if you'd like to leave your financial woes behind and live a life of Financial Freedom you've come to the right place Welcome To Die saving with Steve show hosted by Steve Sexton the show will help you with the ins and outs of money we talked about financial issues that could be costing you thousands of dollars and keeping you up at night we talked about money tax reduction saving more spending less 401K risk management retirement and everything under the sun that relates to you having a healthier happy relationship with money now here is your host of saving with Steve Steve Sexton hello welcome to the same thing with Steve shovel we talked about the ins-and-outs of money pretty much everything in the centrally so you having a happier or healthier relationship with money I want to thank you for joining us today I want to thank you for sharing this with your friends and family we keep expanding we keep growing here in the United States as well as overseas today we have<br> something special we seen a lot of things happen economically we've seen interest rates go up significantly how is that affecting real estate what's going on with that are we seeing foreclosures go up are we seeing what's going on in the rental market we have an expert here Glen Henderson you seen him before in the show we're lucky to have him back and he's going to talk to us about in this Marketplace how do you sell your home for the most amount of money is your how did steps their glands and people have really benefited from them so glad I want to welcome you to the show thanks for being here thanks for having me on I'm glad you are glad you hear one of the other things that we're going to go over today is this there's been a number of scam cuz it came out of covid-19 ago to the top seven going to want to wait for that until the end of the show and with that was get started with Glenn Miller Glenn you been been real estate for how many years now a little over twenty years now okay so we got a little bit<br> the nice thing about having somebody with a lot of experiences they know how to operate and good Market Sinbad Market let's just start talking about what we've been seeing here in the first half of your real estate sales moving forward are they selling in whole price all that kind of good stuff all those things that everybody is thinking about buying and selling want to know it's been an interesting first half of 2023 has started in July last year when we had the big jump in rates into the 7% range and it basically stopped Market in a lot of markets and San Diego being one of them we had almost no sales I'm taking place because others were having to do price reductions and it had really just transformed from a hot Market to cold will come December 8th started to come back down buyers confident started come back into the marketplace and just into the economy overall then starting about January we started to see an uptick in activity activity has continued to increase but the<br> problem is the supply of homes coming on the market has not increased so we're back to now a market where we have very little Supply a lot of demand we're getting multiple offers on a lot of properties Racine over bidding on a lot of properties but it's only in certain price segments and it's not necessarily one price point but it's if you look at a zip code and what the median price point is within that zip code is about the 70% tile and down so median up to maybe 70% of what the top end of that range is those are selling the high-end homes in any Market or any ZIP code or any area those are the ones that are having more difficulty in more trouble selling and a lot of its related to the interest rates and we just had another uptick in interest rates last week where it pushed us back into the high sixes and low 7 and we're already starting to see and feel the impact of that on just the market as a whole<br> okay so here's the here's the next part with all the stuff that's going on with increases in interest rates and you know as you indicated any of the valleys are sailing a little bit higher how's the like the I know that the people were looking for forbearance and all that kind of stuff during covid and that's translated into whatever translations and now but are we seeing an uptick and foreclosure filing short sales things like that<br> big uptick in the Foreclosure filings not so much too short sales just because values are up so much I'm where the majority of people have still had the equity to be able to get the home sold if they choose to end the short sales that we are singing or people from the last about a year-and-a-half two years I bought properties with either VA loans which was no money down or the three or 5% down loan programs in those situations default sound meter whether it's lots of job relocation of different things but the Foreclosure filings are up significantly a lot of that is because the lenders that we're doing the forbearance has the lenders there was the state and federal programs that were preventing letters from foreclosing different things and reasons that foreclosures were on hold those are all gone now so and the lenders are now getting<br> start about where the market the direction where the market is heading I'm so we're starting to see a lot more foreclosures and the other is the second mortgages I'm there was a lot of second mortgages that people had defaulted on and they were not making their payments are now prices are high enough that those second lenders can come back and foreclosed on the property get the first paid off and still recoup a lot or all of their money so that's another area where we're seeing the big and big up for foreclosure filings<br> okay help me out I understand from a volume standpoint you have any idea where the volume of foreclosure is that just a forgettable the San Diego area where you're at yeah I don't know exactly number-wise were not definitely not neither anywhere near what we had like 26 leading into 2006 and 7 but we are up need of more than we're almost doubled from where we were three years ago okay so it's pretty significant okay when it comes to rent in San Diego are we seeing rent increases or how is that going to start an article the other day that we've now surpassed San Francisco as far as rent be and it's just a lot of that comes down to the shortage of housing in with a limited housing and then there's<br> the people that need to buy but they're not able to buy right now and they're just being forced into rental so we did see a little low land rental prices basically followed that price at home prices but we are seeing the increase in rates again<br> spell with the ex what was the real expectation that we should be looking at for the latter half of the year do we expect to see more rate increases with means higher rates for homes or we spill you were expecting the the market to loosen up get more inventory what we looking at here are not expected to come down in the short-term increase the last week was not expected and now we're out in the back up to the 7% range it looks like we're going to be here for a while inventory does not look like that's going to be something that's going to correct for a while and big part of the problem is is 91% of mortgages currently are below 6% in roughly 82% or below 5%<br> so when you got people at those low rates and your typically they might be a move up buyer where they're going to moving up in size or into a different Community they're not selling and buying because prices are still high and rates are still high it doesn't make sense their payments would be in a double easily if they tried to make a move so right now the majority of the people that we are seeing her either relocating out of completely out of area or out-of-state or it's a divorce type situations that or people that have passed away and then they're from The Heirs are selling the properties that are have been inherited but there's not a lot of transitional moves within a community or within an area that we would normally have and because of that it's going to we're going to have to have one or the other either prices are going to have to come down or race are going to have to come down in order to start to loosen up the inventory<br> and that's wonderful everybody want to stick with this will be right back with more shaving Steven Glenn Henderson more expert advice for having a happier relationship with money still to come on the saving with Steve show<br> don't let your financial woes keep you up at night and prevents you from living a life of Financial and personal freedom hi I'm Steve Sexton post of the saving with Steve show where did he talk about the ins-and-outs of money those financial issues that could be costing me thousands of dollars causing stress keeping you up at night we're going to talk about money tax reduction saving more spending your investment risk management retirement and everything is so sweet with you having a healthier happy relationship with money soon as you've ever dreamed of living a life of Financial and personal freedom you owe it to yourself and your family to tune in to the saving with Steve show join me Steve section of the saving with Steve show as we talked about everything under the sun when it comes to money to learn more about the show visit saving with<br> DOT us that's saving with Steve. Us saving with Steve. Us will see you soon<br> welcome back to the show that is here to help you achieve your financial goals it's the saving with Steve show now here's your host Steve Sexton hey welcome back to the same with Steve show where we talked about the ins-and-outs of money pretty much everything under the sun that you really want to know about but today we're talking about real estate now one of the big things when anybody sells real estate they want to sell it for the most amount of money the key here is a couple steps you're going to need to take in order to do that and there's a couple things you want to do and you want to make sure you have the right realtor to do that now Glenn Anderson you know it we know he's a real estate has been around for 20 years in the market knows what's going on and good markets bad markets you just heard me talk about everything is going on now he's going to walk you through on the five things you need to do to sell your house for the most amount of money so clean when we go ahead and start with everyone they seem so inspection in and do free inspection is doing the inspections at typically buyers<br> going to do once we get into escrow so having a home inspection done by the independent third-party inspector getting our termite inspection done on front those are the two big ones your properties that are on septic systems or have wells a lot of times to be those inspections up front but we want to do is identify any problems or potential problems that the home has before we go on the market before we get into a scrim because once we get into escrow fire has contingencies contingencies mean that's a reason that they can cancel the number one reason or contingency buyers cancel is because of the Home Inspection so we can identify the problems up by friend and then we can address them and fix them on our timeframe are contractors and we're in control of it in almost every case is going to be less expensive and then again at eleven a second chance that there's going to be a problem once we get into escrow<br> l i n d i just talked to you I've actually relay these these these these these steps for the five things to other people and it's interesting I've had a few times where somebody said you know what<br> I had to fix a water heater but instead of fixing it I give him a credit I get my credit for $4,000 on something they cost me less than $1,000 to do myself cuz it was nuts I wish I'd done this before I get the feeling that happens again and again cuz people are just really negotiating down significantly on the price if there's just a little thing that's wrong is it right hundred percent and what happens to be where the contracts are the buyers basically use the inspection as a second point of negotiation so they come in and they find any of these different issues and then they nitpick of property and then they come back and ask for that big credit like you mentioned that doesn't make sense where if we've done everything up front we would dress problems that need to be addressed and then it's part of the counter stages when we receive offers we provide the inspections we provide the disclosures and then we make it an open book of here's exactly what you're buying this is the condition in the sale is going to be as is<br> just removed at second point of negotiation from the contract<br> what's the second one agent so once we are inspection and work on stage in the staging doesn't just mean a bacon home bringing in Furniture staging and what I mean by that is everything from the curb appeal to decluttering the home and it might be painting could be to replace an old carpet are some homes that are occupied what we'll do is we'll work with the owners in decluttering removing a lot of furniture will bring in some of our own Furniture to just help with show better or maybe something a little bit newer more modern or something smaller that fits a space better for the staging overall is working together and we work together with our clients make the home show in its best light so it could be as simple as power washing the front and implanting some small color flowering plants in front for just a little bit of color but it's from the moment somebody pulls up<br> them to feel like wow this phone is beautiful and set a good town as they go through the property and also that relates to the end of marketing as well when we are videos are photos everything else it needs to really capture that person's attention so if we spend that extra time in a little extra money to make sure that the home shows in his best life that's going to get us more interest more buyers more offers and ultimately a higher price<br> what's the next one pricing so I swear I see following the market so many people make mistakes and get for guidance on it the pricing the home and it's going to be the strategies that are buried in different markets but the goal is to price the home where we feel market value is in a lot of time so here or in the hot market like we have now even a little bit below market value to create a bidding war with so many times I get to question will shouldn't we start higher because people are going to want to negotiate down or let's see if we can get that tire pricing in most cases that backfires because a home that's overpriced and especially in today's a day and age where people have access to all the data they know if a home what home should be or what the homes in a community or selling for my mom is priced significantly higher that home sits on the market and then it's two after the first in there to 34 weeks<br> it starts to get the perception of okay there must be something wrong with that home why isn't it selling and then it's fires start to buyers are interested in the property they're always going to offer a lower price because they know that it hasn't been selling and then you start chasing the market down first if you price the market price at accurately up front and then we do a good job and do everything we do on the marketing and driving interest in getting people in there then instead of chasing Market down and doing price reductions we're creating a bidding war and driving the price up<br> okay<br> Best Buy makes a lot of sense cuz I've seen a lot of people who held on to their house and this is the this is the stuff that falls on us and it's such an important part of the process where is either the passive agents for the active agents the majority unfortunately or password they put it on the MLS in my put it on their website they put a sign in front and then they just wait and see what happens and wait to see who comes in where we're at the flea market in our property or clients property so it up from the point that we have everything ready we start a pre-listing or pre coming on the market some promotion of the home driving interest to the home and we wanted in that first week before we go on the market we want to create a buzz around the property we want to get full exposure that includes<br> marketing we do mail campaigns around the community throughout the realtor Network our realtor database for the community as much attention as many eyes on the property before it's even available to show us that way when we actually go live with the property and we do our open house in our loss to the community we want to have make sure that we've reached as many people and we're able to bring as many people in and that way if we can create enough Buzz around the home and people see how much interest there is it just human psychology there's somebody feels like somebody else wants it it helps them to just buy the date that either it's worth buying and then it's worth paying the higher price for it as well<br> wonderful always want somebody wants to pay a higher price that's the last one last one is going to go she ate him and negotiating so we've already talked about their contract there's really cool points of negotiation that initial negotiations when we're negotiating the price and then once we get into escrow so we're doing the free inspections to completely eliminate that second point and then with the first point one of the biggest things is having a strategy so we talked about with the marketing and strategy of getting people in the home but then the strategy of how long is the market home going to be on the market how are we going to create a bidding war how long are we going to review offers and sometimes I see properties were that goes on the market first offer comes in a 26 sided the sellers are excited they don't know what to expect so they rely on the agents guidance and then they accept the offer and you look at it and they probably could have got another 20-30 50,000 more for the home<br> I had a strategy and I've been patient and then work on the go she ate in that price up<br> wonderful so what are the some of the ideas for negotiating the price up<br> so that's the way we handle it as we always have our first week of getting the laundry in the property and gain and they're coming soon getting interest on the home going on the market starting showing October weekend do we run our showings for at least 4 to 5 days and we start accepting offers but we wait during that period until we have no that we've been exposed the property as much as we can and we got as many people as we can and we receive all the offers and then at that point we're taking looking at all of the offers and basically we have strategies and ways that we<br> but the offers against each other and it's still through the counteroffer stages to create a bidding war and a drive that price up as high as possible so we're looking for the most qualified buyer and then also course you're going through the counter offers negotiate in using the all the offers that we have on the property to negotiate the price up<br> do the other words if somebody's going to pay cash and they want to win you can come back and say hey look can you get by $25,000 you're paying cash world will take it it was something like that and it's been exactly so you have five we have five offers on the property sake okay you're the third highest offer we're now $50,000 where your at we need to do. You're going to need to come up about that and what we're going through that process of receiving offers than somebody may go up and then the next person wants to submit an offer will now we're at 8:50 and then the next person comes in higher so it's almost like I said it's a bidding war and I'm having transparency with the agents in the buyers and having a process and a system for doing it<br> drink crates nail Glen you know what we're coming close to the end here what's the best way so we can get a hold of you whether they're in San Diego or somewhere else I know you have a large Network that you work with how can people get ahold of you number is 619-500-3222<br> and then our website is my Premier homes.com<br> my Premier homes.com to hear that everybody glad I want to thank you for sharing that with some with us today and help us understand what's going on in the real estate market again if you'd like to get ahold of glass and you can call 619-500-3222 again that 619-503-2222 see you next time have a great week thanks take care everybody want to stick with this will be right back with more shaving receive more expert advice for having a happier relationship with money still to come on the saving with Steve show<br> don't let your financial woes keep you up at night and prevent you from living a life of Financial and personal freedom hi I'm Steve Sexton post of the saving with Steve show where to be talking about the in an ounce of money does Financial issues that could be costing me thousands of dollars causing stress keeping you up at night we're going to talk about money tax reduction saving more spending your investment risk management retirement and everything is so sweet with you having a healthier happy relationship with money soon as you've ever dreamed of living a life of Financial and personal freedom you owe it to yourself and your family to tune in to the saving with Steve show join me Steve sex and out of saving with Steve show as we talked about everything under the sun when it comes to money to learn more about the show visit saving with Steve. Us that's saving with Steve. Us saving with Steve. Us will see you soon<br> welcome back to the show that is here to help you achieve your financial goals it's the saving with Steve show now here's your host Steve Sexton they won't come back to this evening with steam show where we talked about the ins-and-outs of money my name is Steve Sexton and what we're going to be talking to right now is this stick scams that are the big leadership in 2023 so far in response to the first one is a crypto-currency and call romance camon C9 internet they fall in love with somebody and then they start talking about their Investments and we talked about how great their land and they target people so they can download the app and invest in Big Bear<br> they claim that they're putting in their own money and the van and basically when you start talking to people the Federal Trade Commission they're going to be doing is taking your money so I do you say stay it's very simple and carefully scrutinized any investment opportunity even if you think you're a sophisticated investor when it comes to these romance I know people personally want to get scammed over $100,000 and it was almost $400,000 they were still embarrassed that they did report it and tell the IRS says you're going to have to pay taxes on it and they didn't have the money investment opportunity to get a prospectus get a tax return a business and audited financial statements are you invested Cheney Lowe's damn criminals exploit workers by offering big payday loans that they claim will help people get a handle on their bills<br> loan applications are told they need to pay at the repast p e r s u k s Turtle loan be with a gift card or something other than untraceable phone payment the only thing is on one time password instead of botched damn Publix. That's the automated programs to see people in the sharing of two-factor authentication codes with them via text or email from financial institutions such as Amazon and other chip I will make a phone call or are you to get you to log into your bank account and it wants the code that the bank that you as a precaution so they can get in you never share authentication codes provide other<br> mission in response to an unsolicited phone calls and check the caller ID show you my trust in institutions I recommend actually called the institution it's okay but this may not have heard of it they built Sony application side David senior application so sad that people are really into dollars and they're looking for a way to get rid of it and tried to propose forgiveness program or whatever status is in okay and don't phones that check washing scam other payment mode<br> are replacing chapter still used operating a scammer 6.1 trip is check washing with scammers steal checked my mailbox treat them with their household chemical for the dollar amount leave blank spaces they can bill for $1,000 and more deposit of your ongoing mail in Blue collection boxes before the day's last weekend so it doesn't fit for a long time at home avoid leading me on your mailbox overnight if you're going away<br> next free gift card gift QR code scans the scary put a fake pulled over real ones before the convenience of embark on people's restaurant menu for making payments Experian mr. groomer says scammers may call and say they're going to send you that you work on your phone so you can receive $100 gift card reality how to stay safe if you receive a phone number you know is authentic next pack skins cast<br> refund in reference to your refund and it basically talks about you haven't received your refund call us or do this or do that the reality okay go to send you your refund followers to it they don't hold on to it and say hey if you get something from the IRS I highly recommend you give them a phone call Glenn Henderson was wonderful again you want to give him a call at 619-500-3222 this cancer be listed on the website of shaving with Steve. Us I would thank you all for Jordans that would be a wonderful we talk to you then bye bye thank you for joining us for the saving with Steve show hosted by Steve Sexton to learn more about the show and how to become a guest or sponsor visit saving with Steve. Us that's saving with Steve. Us join us again next time as we can chill<br> they talked about everything under the sun that relates to you having a healthier happier relationship with money this has been the saving with Steve show hosted by Steve Sexton<br>