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 the 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 the money now here is your host of saving with Steve Steve Sexton<br>we talked about the ins-and-outs of money pretty much everything under the sun that release date you having a happier or healthier relationship with money my name is Steve sex and I want to thank you for joining us a we appreciate if falling with your friends family and Associates got wonderful show for you today will let me talk a little bit about last week last week we spoke with Jake I owe Chief marketing officer Maria today in the biggest cryptocurrency exchanges in the world with over twelve hundred different coin 10 million registered users Marie she helped us understand the world of crypto Bitcoin and empty metaverse she helped us understand the market conditions things that people should consider before the 8th crypto or nfc's and stuff like that what a wonderful episode hey if you go to the skating with Steve. Us website that the saving with Steve. Us website want to go to episode 75 near to see Murray and gate I owe this week we're to talk about real estate that are crazy<br>situations coming up here with real estate because interest rates have gone up to help us understand or make sense of what's going on here for right now in the first part of 2022 we have real estate expert Glen Henderson Glen is going to give us a rundown on real estate market so far in 2022 what we can expect for the rest of 2022 and if you're still looking to sell he's going to go through his patented are components for selling your house the most amount of money that you want to utilize to reduce your dad you know this is a very important special with all them place that's going on now and the fact that the FED is increasing interest rates that's nuts because that means your loan Costco on your bar in Costco it's all those things are going up you're going to see other companies doing up you're going to slow it'll slow things down people we buy leso be very interesting so it's really important that we look at ways about The Eliminator<br>first big check you want to write down everything that you're spending not just for one month but take the last 3 months so that means their credit cards to death statement your checkbook get those all involved right there and everything break it up between meals in like buying food at the store meals out that means going to Starbucks of chicken coffee that's going to In and Out all those type of things the restaurant stop buying Jazz the cost of electricity gas and water for the house your cable bills your mortgage is your car insurance your cost of of your health insurance your house insurance your you know everything that goes along with anything and everything you do take a three-month average cuz that will give you a good idea of where your expenses are and then you want to advertise that total is there Halo where's my income then you'll know how much you have the ability to say and put towards a reduction of debt when you take a look at all those<br>and you see all the credit cards and debit cards take a look at ways you can eliminate expenses for things you're not doing this is really interesting you sign up on a dating service a food delivery service or a Netflix is streaming service can you find I haven't used it in 30 days get rid of it now you might say well that's 10 bucks every little bit counts many times I myself we seen people look at their cable bill and realize that I'm spending $250 on cable I got all these packages but I only maybe watch one or two channels of each and if Netflix is copying cost me five or ten or fifteen dollars but this Cable packages cost me thirty bucks a month when I just get rid of the cable package and reduce my cost man in fact many people said hey let's get rid of cable all together I'll just keep the internet services and buy streaming services in fact one of my clients bought internet services got AT&T live and you can<br>get Hulu live with me so I can get live TV and they bought one or two streaming services so they went for paying 250 $300 a month to about $160 a month now $50 a month at $1,800 a year now that's more money that you can fit in to pay down debt you start looking at eating out hey how often do I need to eat out okay and how can I reduce this how can I find ways to reduce expenses when it comes to my food cost for my car insurance shop around my cell phone bill talk a lot there's a lot of carries here a lot of men are in the 5G Network they have the coverage cuz they're using somebody else's but you could you don't have to get stuck with a carrier for 3 years for you to actually help you reduce debt and you know what you're going to stick with this will be right back talking all about the real estate market here with Glenn Henderson so we're going to take a short little break and go from there 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 to be talking 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 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 so this week we're talking about real estate market with an interest rate increases to help us make sense of what's going on here in 2022 because of their big change from 2021 we have real estate expert Glen Henderson Glen is going to give us the rundown on the real estate market so for 2022 hey what we have to look for in the rest of 22 expecially with the rate increases and you know how many people are looking to sell their home so if you're looking to sell your home this is most important cuz Glens going to provide his five key components for selling your house for the most amount of money all over the place you're going to give your information last time we had a number of people who just wanted to reach out to Glenn so I don't want to thank you for coming on to the show and sharing your knowledge thanks for having me on Steve always enjoy being on here with you<br>what is a bumper year for people selling high prices first part of 2022 how how did the first part of 2022 were talking just a fruit the first quarter here but how did the first part of 2020 to go see that everybody's expectations so so far and just the first quarter of this year rates are higher than they were expected to be by the end of the year we've had more appreciation in the first quarter this year than expected for the entire year so it's gone faster and it's been a different Market than anybody expected were any of the economist or casted for the year okay so what's really happening with the rate increases cuz I'm seeing at 5 What will what will that do to the real estate market place and then after that let's talk about supply and demand so this week we actually now after the end of last week going into this week we're now at above 5% worried about five and a quarter on interest rates which is the first time in over a decade that we broke by percent mark<br>but it's bad the opposite effect on demand is what you would think normally rates go up and see him and start the slow but instead it's increased demand and what it is this is basically buyers are trying to get in before rates continue to go up because that's what is expected so we've seen an uptick in demand overall on the level of overbidding I'm has slowed down slightly but the number people over bidding has increased on the property so we're seeing more offers again more people over bidding but the amount of the offer but it's just, slightly and that is an impact of the entire race of people bid on the house you have five but they're all over betting you don't have the one that's going low because everybody knows if they go low they're not even come close or actually instead of five or six overbidding which we had january-february now we're seeing 10 or 12 so we have even more more buyers have been at 80,000<br>$90,000 / B we might be at 6219 / B now but there's actually more Demand right now because everybody's trying to get into homes before prices and rates continue to go up and summer starting and all that kind of stuff wow that's interesting I would think it would be easy and you know I don't like you do that's why it's important for a bit is she so when it comes to demand are you even talking about the demand for the houses are there but what about the properties are I mean are we seeing more more people put their houses up and move out a stay what do you sing no we're not and that's the big problem and that's what's been the lack of inventory so for San Diego's Market were down about 40% from this time last year for the lack of inventory with the demand that we have is what's really pushing and driving the home prices and that's why we're seeing so many offers on every property that's why we exceeded<br>appreciation of his forecast for the entire year we exceeded that in two months of the year and that's not just in our Market but that's pretty consistent through most parts of the country it's the lack of lack of Supply or the lack of homes on the market which is the Big Challenge right now and one of the challenges for people and we have a lot of people and there's a lot of people that would like to sell it but there is nothing that's on the market so they don't want to put their homes on the market when there is no option for them to buy so they're not putting their homes on the market which is impacting or just is this is continuing this effect of no Homecoming on I'm so we have two people that just don't want to make you move in now with rates up significantly people that it may have bought two or three years ago that are in excellent interest rates they're looking at these new rates and they're saying well if I sell now and I remove my money over in a new property with 2% two and a half percent higher an interest rate is going to be a significant jump<br>hey man even though I have Equity to move they're not wanting to make moves right now either which is affecting the number of people that are put in their homes on the market so our people being sounds like they're being 5 6 7 8 10 per cent over over bidding and maybe even more in some cases are we seeing people waving inspections and things like that so the inspections is case-by-case that's the least, that were seen but we are seeing a lot of people agreeing to as is and they're taking taking proper decent condition that are normally they wouldn't have done 34 years ago and no more normal Market appraisal contingencies on almost every offer or being waived the meaning of the buyer's or green to make up any difference if the property doesn't appraise or they're riding in that they'll make up a specified amount for example don't cover 20,000 indifference or thirty thousand difference if the property does appraise for that we seen almost every<br>golfer and then a lot of lenders now what they're doing is they're going through the full underwriting up front so that then they're getting their buyers approval and then that way they can write a non-contingent her no loan contingency so that they're able to compete with cash offers that doesn't your firm work with people who are looking to compete if they you know they're trying to do all the financing and everything doesn't your friend do something like that yeah so we're partnered with one of the large National Bank do we have a couple you need programs one is basically get people to prove so that they're fully underwritten where they ride in offer that's equivalent of a cash offer within their ass or another component of that program instead they have a cash offer program soap were competing with other buyers that are cash buyers the bank will basically step in by the property all cast we can close this quickly 7 or 10 days and then our client bicep<br>property from the bank at the same price I'm so gives us a way to compete and stand out against the other buyers that's a great program that we have this really been helping a lot of people then we have another program that when somebody does have a home that they need to sell in order to buy their next home basically we're able to help them by before they have to sell their home so that way it alleviates those fears and concerns with the low inventory that allows him to move on their schedule so basically what it is with the bank that we're partnered with there's an agreed-upon initial payment that they will give to the end basically by the way our clients property once we've identified and gone into escrow on their new home that they're buying they get their initial payment that allows him to buy move into their new phone it's settled in the new home we get their old home staged any work or a touch-up we need to do we get that done we put it on the market we sell it and then they get a second payment or the<br>turning upside down with it so it's a really neat program there's only a couple companies that have access to this and it's been in the challenging Market we have right now it's been an excellent program for all of our clients and it's really helping a lot of people make that transition smoothly and leaving it's a lot of that stress people who are looking to buy homes to turn into rentals there's a lot of money going still continuing to go into the the investment properties from institutional buyers are medium range scale buyers in a lot of just individuals because that you can get on rental properties right now in Sparks eating anything you're getting anywhere else in the market even with rates going up because not only have home prices gone up significantly rental on price of the rental amount through the roof right now so there's a lot of people buying for the purpose of holding us investment property<br>find paying top-dollar because they're going to get gray trench exactly appreciation and the the media trends that they're able to capture home prices are not pushing those people who have been in a lot of that is because there's not anywhere else in the market you know it's hard to find those type return so you can get in real estate anywhere else in the market right now so when we start looking at the rest of 2022 and we see if you have the rate increases what would it have deserted you know because we have all this demand and low inventory feel that the demand and we'll just continue on the way it is or will there be less and less people able to buy a house how how do you think that's going to to work out send this short-term I think it's going to continue the way it is but it's going to slowly start to taper because as rates continue to go up<br>damn prices continue to go up and it's going to hit a point where people are not be able to afford these higher prices this year or do you expect to happen sometime next year I think we're going to through summer we're going to see inventory start to go up quite a bit from where we're at right now and I think the demands going to meet is that inventory and then I think by all we're going into the end of work in the third quarter in the fourth quarter I think that's when we're really going to start to see things starting to level off or maybe even drop a little bit okay perfect they look everybody want to stick with this we have Glen Henderson here real estate expert he's going to be feeling this in a little bit more on the market just a few moments we just got to pay a couple bills will be right back 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 sex and post of the saving with Steve show we're going to be talking about the ins-and-outs of money was 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 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 hey welcome back to the same thing with Steve show where we talked about the ins-and-outs of money hey if you're loving this show and the other ones all the replays are available at saving with Steve. You asked if you're enjoying the stories of helpful information on saving with me then I encourage you to check out our YouTube channel or Spotify Channel Google Play Channel she never missed a show and check out a few of our Affiliates at UK health aide obvs radio top rated New York City all these words are dedicated to empowering you solve problems uplift your spirit and live a life of personal financial Freedom if you like the falls on Facebook you can go to shading with Steve Sex and the City was Steve sex on Facebook and get all replays exclusive guess guess the whole shots hey we're back here with Glenn Henderson this is been a mountain of information so far with Glenn he's talking about the ins-and-outs the market Glen<br>what is things I wanted to talk about is there's a number of people who want to sell an even though they're getting offers over and above you have a five components that people need to take a look at or did you in order to sell their house for the most amount of money so could I have your walk through those with us here that would be just wonderful especially in the market like today anyhow is going to sell but they're not at all going to sell at the same price some more that you can do in the more the better system that you have a place for it that's how you're going to be able to sit directly impact the price and ultimately get the highest price for your home button are five steps the first step that we always focus on his ark re-inspection so what we mean by the pre-inspection is we like to take care of the inspections that the buyers were typically wants to get into escrow up front in the reason for doing that is who won identify if there's any issues or problems that potentially could cause<br>pick up for a challenge once we get into escrow and typically in a home sale when the buyers complete their inspections it becomes a second point of negotiation where they're trying to request credits or repairs be made to buy doing everything up front and providing all of that information to the buyer's or we go into escrow was run against eating the contract makes it much easier to negotiate the as-is sale in the lemonade any of those problems that could arise while we're in escrow and especially to in today's market where a lot of times fires are removing their appraisal contingency the removing their loan contingency the only thing left is their inspection contingency so if we take care of all this up front for my dad negotiate the as it sailed in it eliminates that one area that we could potentially have issues once we get into one of my clients who you know what they put their house on the market I bet it's not clean it's a neighbor and they put their house on the market and they didn't get it<br>inspection obviously didn't sell it with you but here's what occurred at once the the buyer did the inspection they came back and identified like 8 or 10 different items oh no they weren't little big item but they wanted they never know what signing off on $30,000 reduction in the end the sale of their house because the they made that whoever they're real estate agent if you did a good job made it sound like it was more than what it was and they probably could have spent 53 or $4,000 fixing it themselves as opposed to negotiating down the price is that make sense that's exactly what it is that's why the reason we want to do this up front so we can avoid that because a lot of buyers know that that is a great opportunity to try to renegotiate price once you get into contracts in a lot of times to when sellers gets the point of being in a contract in your a couple weeks and it is a buyer you have them in a position where there it's unlikely that they're going to want to cancel<br>I'm so they're going to concede to some amount of credit or repairs because they just don't want to go through the whole process over so don't buy Olympic taken that opportunity away it just makes that transaction much more smooth for the seller and put $6 in really a position of control throughout the transaction that's wonderful and I like to talk about is really two parts though there's a staging part that most people are familiar with which would be bringing in Furniture in it which would be a vacant home but we also do the staging on occupied home so it may be taking out some of the old Dayton furniture furniture that's worn or maybe there's just no furniture in a room that will work with either the homeowners current setup and stayed around it or stage together with it or on a make it home will bring in Furniture but it also means decluttering removing a lot of the personal items to Family Photos things like that<br>curb appeal is a big one so whether it's some freshening up the lawn trimming trees bushes planning the colorful flowers pressure washing the exterior cleaning the windows pressure steam cleaning the carpets but it's all those things to improve the overall appearance of the home make it showing its best light because what we want is when somebody comes in the home we want to be them to be able to Envision themselves living there so that's why I want to take them personal photos personal property things like that because it is eliminated those distractions we also want him to come in and even if our homes day did we just want them to look at okay that's something I could upgrade at some point we don't want them to look at things and think though that I need to fix that I need to repair this I need to have this done right away so that's how my doing all the little things in the stage and in that preparation and making it shown his face like we're able to directly impact the price to get top dollar it's great and what's the next one next one is the pricing so pricing<br>important mistakes is tellers make is over pricing their home and putting it on the market for too much and then by doing that what it does is basically reduces the amount of interest in that cavity that you're going to get witchden directly impacts the number of offers that you're going to receive and one of the interesting Dynamics right now that we have in this market is because we've been in the seller's market for so long and overbidding is happening on every property buyers are looking at properties online or an open house or anywhere else automatically in their mind they're assuming I'm going to have over bed and I'm going to have to overcome pay on this house I'm going to have to go over the asking price so whether it's a 3050 100,000 depending on the price point they know they're going to have to do that so if you put a price too high in a property and sometimes but you'll see sellers State wall heater prices are going up x amount every month I want to put it into this much above<br>wait for your neighbor's address Soul within the buyers are looking at that and thinking okay well this is already more expensive than their neighbors or the other homes and then I'm going to have to pay another $50,000 on top of this to I do you want to make sure that you're in this market underpricing or price at home even a little bit lower is much more beneficial than pricing in the little bit higher because you're going to get the beds you're going to get the competitive overbidding which is going to directly impact the price in a more traditional Market you may not have the overbidding but you don't want to be that Homeless overpriced because as you start to reduce your price and then she spend time sitting on the market buyers are looking at the property and think there's either something wrong with it or it is over Christ so they know then there's that a opportunity or ability to come in and under asking price and it puts them basically in water. Position of power or control when they're negotiating versus that were price accurately and we're getting a weird one. It's dictating price I think that's a biggie<br>Yanmar claims that huge 17 Marketing in any Market but we what we need to do is we need to get the home in front of as many people as possible and more people and more eyeballs we can get on the property the more interest in the more showings and the more offers we're going to get and that's how we're going to ultimately get the highest price and one of the things that we see so often and our Market there is the lazy or an experienced agents to just do the passive marketing basically they put it on the MLS to put a sign in front and then they just wait for people to call wait for something to happen with that were our Marketing Systems designed to actively get the home in front of as many people as possible so that we can all from Italy get increase the interest and get you the highest price on your home so that's everything from notifications around the community the open houses all of the social media marketing our internet marketing video marketing everything is designed to get it in front of them<br>some audience pose locally nationally and internationally because we do have so much money coming in from overseas buyers and then the last ones negotiating that's that's the Big E in the negotiating when we talked about the free inspection we can't touch done it but basically there's two points of negotiation in the contract you have your initial point of negotiation which is winner receiving the offers and then negotiating to get that price up in every Market there's going to be a different strategy in a different way to handle it right now we've got a very good system where we have a specific date which is Wednesday or Thursday that we go on the market We Begin showing Friday we show the home for a set period of days which is usually or 25 days we have an offer deadline of usually Tuesday but what we want to do is we want to maximize the number of showings we want to make sure that we're getting as many offers in hand before we start the actual negotiations that's a lot of time with the inexperienced agent<br>listen to take a higher offer that they get a lot of time is sellers are leaving money on the table because they didn't give it enough market exposure and they didn't give it enough time to get additional offers on the home this is a wonderful system so Glenn how can people get a hold of you so you can reach me anytime at +619-503-222-6195 0 0 3 2 2 2 want to go to our website at some my Premier homes.com everybody this is Glenn Anderson real estate expert out here in San Diego you looking to sell your house do you want to have a chat with Glenn you definitely want to relax this video and learn those five key components of selling your house for the most amount of money I want to thank you all for joining us Glen Henderson for joining us today run that wasn't all of our listeners you'll have a wonderful week we'll look forward to seeing you next week the same time same place right here on this evening with Steve show bye-bye everybody thank you so much thank you for joining us for the<br>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 continue to talk 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>