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 money now here is your host of saving with Steve Steve Sexton hello welcome sign as it relates to you having a healthier copyright relationship with money my name is Steve Sexton on your host today you know what if you're running a business in management lead his family coach a sport senior
how to be a leader one of America's top companies you're going to want to stick around for Tom Eddington Thompson talks about the transformational power of conscious leadership how to look at how to look at work life balance Lee moffie ethical multi-generational Workforce has and how you can get the best out of your team member second half of the show we have real estate expert Glenn Anderson was going to talk to us about hey what happened in 2020 what we can expect from the transit real estate in 2021 he's going to give us those five Pat and components for helping you sell your house for the most amount of money that what that our first guests today let some of the biggest Global murders and Spine and tags oil Industries in when I become web silicon Valley's top business advisor Tom Eddington is the founder of Edison Eddington advisory Services if you want to check out time you want to go to Eddington advisory.com he's an expert in the field of conscious leadership, welcome to the show today and I look forward to
to our conversation as I said earlier I talked a lot of friends about you and this topic because I wear bowling balls in a leadership course it would like to take every couple years and it's just very very interesting and they prompted some questions and you know it will be a lot of fun but more importantly if you're in one of these level this is conscious leadership is a way to make an impact within your organization Drive results become more profitable for you yourself the ones you love and infect me to a level so with that let's just start out with the first more important question is what is artist leadership and how can it help leaders of America stock companies or organizations just leadership Tom what what does that mean it's it's a little bit challenging cuz we all have different ways that we think about leadership and we all have different ways that we think about about consciousness
what what is conscious leadership made for me the really simple thing is that conscious leadership is having self-awareness how am I showing up in the world how am I am packing those around me and it doesn't matter if we're talking about family members neighbors Works work colleagues are those reporting to us what impacts are we having on our lives through our actions or inactions power affecting those around us that's a really simple way is starting with self-awareness and then from the self-awareness piece it's being very intentional about our thoughts or actions be that way were interacting with with folks around us and then finally it's taking full responsibility for everything that we we do and that happens to us in our lives okay so you let some of the largest International burgers and finance act wyona Street how did that experience lead to your present focus on conscious leadership
quite a journey for me over the last 20 years in terms of the work I've done. I work with that as you've indicated at work with some of the biggest companies on the planet I work with one person startups and for most people especially those working in mid in large large companies they wake up in the morning and they start consciously and unconsciously saying how much of me what parts of me is it appropriate to take to work and they go through a process that by the time they actually show up whether there be a pre covid working in a in a facility with colleagues or working online 33/40 baby as much as 50 or 60% of themselves they decided consciously and unconsciously I can't bring those parts of me to work because it's not safe it's not appropriate and so we end up with organizations where you got half the workforce who aren't present they're showing up and it was very bad behaviors are with your showing up in ways it's not healthy that's not effective for themselves and
people that working until when I when I talk about conscious leadership part of it is being very intentional about what parts of myself am I going to leave behind what parts of me am I not going to bring to work the more importantly it's asking why do I believe that why do I think it's not okay to be able to come to work and bring all of me and what's missing in our organization culture what's missing in the organization that I perceive I believe it's not okay for me to bring those parts of me to the to the workplace gossip just brought me in 1980s and early 90s flashback
I mean coming from the environment of the 80's and 90's management I mean I just I totally identify with that and that's actually one of the reasons why I left the corporate world in which became an entrepreneur and Financial Consultant it's just I just I just didn't want that so I can only get it I think a lot of people made that decision or people are moving forward with that and they're causing themselves so serious health issues because they're suppressing things and that's not good right now okay know how does conscious leadership focus on helping leaders develop the connection between their IQ emotional intelligence and Body in Tilted Kilt explain how that works for most people in an organization they are either told explicitly or implicitly that what we care about is either your bra and your physical contributions to the workplace depending on the kind of job you have or your brain and that's all we care about
shall we value and form for most of the last century that was the message that was delivered to people for Chelan the last 20 years or so because of some some groundbreaking work by Daniel goleman another's organizations have realized that well our emotional intelligence is just as important as our intellectual intelligence what we need a water what capabilities are intellectually and so we've seen a lot of work over the last 20 years around emotional intelligence and pins for leaders in particular but all all people in the workforce to make that emotional connection with their calling with the customers with the suppliers and the next step in that Journey from my perspective is being able to trust her intuition and have our body intelligence also inform how we thinking and the reality is a human being most of us don't realize it but we're hardwired you are bagels nervous system are vagus nerve that runs from the brain to our God we got three brain centers in her body in our guts and weak what we talked
my gut instinct we we have words for it without consciously realizing it that are in our gut intelligence are hard intelligence and our brain in our head are all connected and we need to flip the order of how we process information starting with what is my intuition tell me and then go to our brain with this highly developed Oregon to process what her intuition is telling us and then have those to meet in our heart and then speak from a connect with others who are hard are emotional intelligence and to complete rewiring a complete rewind thing is how we show up in the world what if we can show up in that way the way others experienced us the way we process information the way that we weren't fundamentally shifts and we have better relationships and we have more success in interprofessional and are personalized okay in this leads into a question that we were when I was talking with my my my friends there why should we change the way we think about bouncing life and work and what is it look right what is it
how do you integrate that you think it's a fallacy this whole notion of work-life balance before that the technology platforms have been developed over last 20 years when people left work maybe they had a briefcase with some documents and things they were going to process and take home for the weekend or we're home for the evening but for the most part it was easy to turn work on people didn't have mobile phones people didn't have computers taken at mobile devices and so there wasn't this notion of work-life balance it's only in the last 20 years because of the technological advances were starting to see that blurring between what I do at work and want to do outside of work and and that prompted this conversation around work-life balance and the reality is only lice and we make choices every single day about what lights in my living and what am I in gauging within the time I am I waking hours around the activities that I'm doing and it's it's just it's a false Choice from my perspective there's only life
choices about what kind of Life do we want to live for the CEOs I work with and and other leaders are there is a conversation and and the realities they made a choice and they created a bargain with their board of directors or with with the chairman implicitly or explicitly that I'm giving my life to this organization to this job in extensions for some kind of monetary compensation or some kind of career advancement and that that was a life choice for many people in organizations they're doing the same thing about making decisions around roll responsibilities title compensation how many hours are going to work and how much of their life is good they're going to dedicate to 22 what they're doing but this notion of work-life balance it's a false Choice it just it's the way of deluding ourselves Cooper psychologist they get paid
sing my right now because I just re-rolling yea though I'm going to say the last 30 years of my life gone yeah I can see that you don't want people getting paid to have heart attacks cuz that's what was the roller in Tom stick with this we're going to take a break right now we'll be right back folks you don't want to miss this more expert advice for having a happier relationship with money still to come I'm the saving with Steve show
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 into 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
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 Eddington oh my gosh what a wonderful first segment we had there before we could go on I want to truly thank everybody for tuning in I appreciate you letting your friends family and Associates know about the show all the replays are available at saving with Steve. Us that saving was Steve. You asked if you're enjoying the stories of helpful information and insight on saving with subscribed YouTube channel you never miss the show check out a few of our Affiliates at UK help radio bbsradio talk radio New York City e360tv and Las Vegas TV networks all these networks are dedicated to empower you to solve problems uplift your spirit and live a life of financial personal freedom also follow us on Facebook and shaving was Steve Sexton they join the Insiders Club
get replays gifts from gas the whole shot now we're back with Tom Eddington you know what you was just talking about the fallacy of work-life balance and quite frankly I agree with that because I never understood it I was this that guy always woke up early and you know what I was always prided myself and being able to accomplish things that others quite couldn't or couldn't figure out and I would work until you know why I lost it when I work overseas it was 5 in the morning till 11 at night and I have to shut off the phone because that's the way I was wired but that's what I saw my dad do so you know I totally get that one of the biggest things here is understanding self-awareness so I wanted to ask question how do you define self awareness and how does it make leaders more effective when is on a somatic level of physical level so what is her body telling us do I have eggs do I have pains do I have Sensations there their stuff going on in our body all the time I'm in for many people
when their stomach is grumbling then I decide for me to eat or when they fall asleep at their desks D I need an app where I need to go to bed but from from many people in our culture in particular we don't have I developed awareness about what's going on in our physical bodies so that's one level of awareness II is our intuition and it gets easily dismissed but the reality is our body is well aware what's happening around us long before we're cognitively aware of that and so it's developing a sense of I just taking a moment to say what am I noticing right now in this second am I noticing a temperature the climate around me am I noticing physical Sensations am I noticing in my in my breathing and the shallow way am I taking deep breaths just having that kind of connection to our bodies in our body intuition as we develop an awareness of what's happening in our body physically then we can start paying attention to it our bodies intuition about what Sensations
what what reaction what's going on for us and then developing awareness around her emotional state so how am I feeling right now not physically but emotionally what's what's going on for me and when we're in the conversation with somebody else and maybe it gets heated maybe it it's it's more of a loving sweet conversation but just noticing what's going on for me emotionally where am I getting triggered what's happening for me so developing that level of awareness and then developing and awareness around where are my thoughts taking me and usually it's our thoughts that are taking us someplace where those thoughts coming from are they coming from our limbic a Reptilian Brain the V the original part of the human brain are they coming from my mammalian brain are they coming from the prefrontal cortex the human brain are those because where those thoughts are originating from if they're coming from a Reptilian Brain are amygdala they were probably going to be in fight flight or freeze mode and we're probably going to react as opposed to
external stimulus or internal stimulus so when I talk about awareness I'm talking about it the physiological I'll talk to you about a physical level of talking about psychological emotional level at the start of the intuition intuitive love you you have that discussion and somebody's reacting as opposed to thinking it through relaxing and responding so you can have a conversation that doesn't go awry expression with two different points of view that's that's okay so I'm I'm already starting to see the picture here but how far out is how can practicing the skills make organizations executive leave them much healthier yes oh I meant for it for a leader in particular it's it's waking up each morning or even before you wake up tonight before setting in
tension for how do I want to show up tomorrow and waking up in the morning instead of unconsciously going through your morning routine say what am I notice it without judgment without any kind of self-criticism her self evaluation in the negative sense just that you're brushing your teeth taking a shower getting dressed having breakfast whatever as you're going through that morning ritual saying how do I want people to experience me today what's going on for me physically physiologically emotionally and how is that affecting how others are going to experience make today and how do I want them to experience the and just by putting that intentionality that that amount of thought and effort into and developing a sense of awareness it can fundamentally change the way others experiences McAvoy do he's in a Hershey's in a badminton court
I know this is a question that many people are talk to you over the last couple days who knew you're coming on the show wanted me to ask and is his I understand you get many questions for male and female leaders about gender issues in the workplace how can conscious leadership skills help to address these issues in this isn't a big thing was almost the first question that everything came out of that came out of multiple Dimensions to that so it wasn't one of the things I do in the executive site or do what they expect you to say couch and they talk about appropriate vulnerability and it's a leader if we're willing to be vulnerable at the right level what I call appropriate level for them then it makes it safe for other people to engage with them and one of the responsibilities we have his leaders is to create a safe environment and to create trust that we can't have a trust in trusting relationship with another if we don't make it safe for them particularly with that power dynamic between a leader and and their subordinates o creating safe
saint for people to feel safe they need to be seen they need to be heard and they need to be appreciated and so if a leader can do those three simple things it creates a sense of safety for those that they work with and then from that then we have trust and where there's a difference in gender is it I sign is that that level of the appropriate vulnerability is different for women leaders where they draw the line around appropriate vulnerability is different than for men and that's just the function of in our society we have different standards or how we view women how we treat female leaders versus male leaders Bow Wow I can't I can see I can see that again I'm getting those flashbacks because sometimes people just won't say what that person doesn't want to hear one person we're talking with yesterday she says you know what one of the reasons why the indicated she wasn't going to get promoted any further it's because she wasn't a yes person pattern
you ain't like that at that level no way really interesting so and then this is what I'm trying to understand corporations in Largo or large organizations similar to biological systems in what can we learn by thinking of them as a living entity chirp every organization is it is an organism and people are showing up and then making conscious decisions or relating with others and particular with large organizations there's a Finance and Accounting are there's a kind of culture there's a personality type there's a there's a an ecosystem that exists there it's different than in the sales and marketing team is different than in the stairs I'm depending on the industry the IT department or the human resources department of each of those have their own culture their own way of being with each other that sit in the culture of
overall organization exactly like if you go out at nature and the interaction between the trees and the bushes and the leaves and the birds and the foxes and squirrels those are called in many respects just like what we see in an organization without being intentional about the kind of culture that the organization wants and needs to fulfill a mission to fulfill its strategy then it will just kind of organically developed to we end up seeing friction between departments we see friction between individuals because it hasn't been explicitly explored and stated designs that's that's wonderful lets you know what I think anybody listening to this that works in a large company that they can immediately see those things now don't we have about 30 seconds left what's your topic is for leaders want to bring out the best in their teams by bring out the best in themselves and without that self-awareness without the intentionality without being conscious about how they're showing
it's almost impossible to bring out the best in those that report to them that's great advice Tom thank you for joining the show today thank you for sharing your wisdom you know what people can go to Eddington advisory or Eddington advisors.com advisory.com if you'd like to connect with Tom Thumb again thank you so much for joining us we appreciate you being here and they happy and healthy they can save all right we'll see you thanks for doing this more expert advice for having a happier relationship with money still to come I'm the saving with Steve show
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 where did he talk about the in an ounce of money bills 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 into 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
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 welcome back to the same thing with my name is Steve Saxon wasn't that wonderful and this is what we talked about the ins-and-outs of money and would Tom Eddington and the transformational power of conscious leadership can make a significant impact not only in your viability with a company with your family your stitching might lie sports-wise whether it's a church or what-have-you you have to be one of the top American companies to get benefit from that and if you work in the corporate world just by listening to that segments that Tom, you could see these things you can see these things and you can go hang on this is something I really need to think about now playing in my head like to talk about the top retirement transfer 2021
which is really important because we had a crazy year in 2020 with you know what we've got politics oh my God 2020 was not in 2021 still nut we have economic that's going nuts because we saw a transition to a shutdown industry or market segments to the segments that are providing the picks and shovels for the market and that has effect on multiple different level and it is interesting because what we saw here is the 9.5% drop in the market back in March and people tended their Investments to those of companies like Amazon Google how we saw the online stores recite anybody like Costco Walmart they're providing the picks and shovels for people to live during his pandemic we all saw them Pride well as retail travel and so on anyting entertainment just went to a standstill
regardless thing that we have the surges surges go up and down there all causing issues with these industries and you know quite frankly if we have more than a couple more shutdown we might be saying goodbye to portions of retail we might be saying goodbye to a lot of restaurants and small businesses cuz they won't be able to survive if people are on out next you know what you look at what's been happening with large organizations over the last year where they decided he know what normally better functioning this covid-19 covid post open environment we need to color of management lot of times it made in upper level management or in their mid-fifties early 60s hey there were about to retire 3 4 5 6 years in here they are being laid off early so hopefully they find a new job or if they don't they're going to have to start making plans now and figure it out how are we going to go about retiring based off
turn income and so on and so forth on top of that we also have people to say hey in 2020 I was going to retire but why should I what the heck am I going to be able to do I can't travel anywhere I can't go out to restaurants and I can't do the things I want to do so you know what I'm going to have to wait until this pandemic when I gets done people are comfortable the back seems out the whole shots now was that we're going to see some friends that are coming here in 2021 okay first chance you know what they're likely to keep low interest rates for the whole entire year 2021 now with that you're going to see low interest rate when it comes to get so if you have a mortgage in your percentage point or more your current mortgage is more than a percentage point or more above the two and a half percent 30 year fixed interest rate good idea to start working about does it make sense for you and it doesn't make sense for you to refinance now I've had a number of people look at refi
dancing and they've asked you before that because it makes Financial Sense on multiple levels I've had people that have taking Equity out of their home to eliminate the car payment and some other guy yet and still have a lower payment after refining which means they're saving a lot of money on their monthly expenses which enables them to support retirement if they're getting a bit having a better retirement or reading at funding at retirement or funding in emergencies bun or funding I one client or a couple clients decide that because the public schools are going back into dark teaching back in the class they're going to private school and they're using the savings that they have to fund their kids out of school education what they think they'll be bored more beneficial than the public school and that's really looking to do that to you can do many things you could do this with a hard time seeing people that are able to better able to afford a car payment right now
because the interest rates are so low and they're taking that advantage of that it would be important to look at it how can it reduce your monthly income in your monthly expenses on your income grow your income if you have less expensive secondly we're looking at interest rates from an investment standpoint how does it help your retirement while I'm done it here is why you know it must be quite Frank with you if you got an interest rate that .62 1% for one year and you're in a state like California New York Illinois any of those high-tech senior likely in a 25 or 30% tax bracket on top of that you have a 3% inflation rate now if you're in a longer than one year term and you're earning one you're actually losing money safely because you're rolling your purchasing power and you're paying taxes on the the money that you're making wishes detrimental shoot now don't get me wrong savings and CDs are the best one of the best places
save money that you plan to use within the next year but when it comes to long-term retirement it's not going to get you there and many people are looking at that that low interest rates are there looking at the low interest rates with bonds are looking at the increase risk factors do to you no interest rate risk unsystematic systematic risk than other risk and they're saying hey we need to make some changes for some people hate I'm going to take this money that I wouldn't want to save and invest in the market because I can get a better rate of return some deeper looking at then say hey you you know what I'm going to use it fixed annuity or a fixed index annuity because it eliminates the bond result taking on because it's principally protected and whatever the growth is protected and you can create an income from it you know what are using in that area for December sat range which is better than CDs or what's the most of Amritsar going wrong on right now so they're looking at those thing but before you invest in anything make sure your
talking to an investment advisor financial consulting they can help you with that decision make sure you get all the information needed to make a fruit informed decision next we want to take it with next door were looking at hey what will happen with taxes this is a big but a lot of people are concerned about it but in 2021 you not likely to see major tax changes why well you barely have one party or another having the majority you know you have one part of the democratic party has majority in you know the House and Senate as well as to why do great but that majority is Slim and ask that you not like me to see massive or crazy tax changes Crazy Ray's the regulations in the next year so the only thing I really see coming on the horizon is an estate tax limit change is 11.4 million per person is likely to get reduced and yeah I can see that happening here in 2021 the next thing is we're seeing a lot of mortality issues here with Toby
in 2020 and those will likely continue to sort of 2021 the trend here is people are making sure their estate planning documents are up-to-date that means your will your trust your power return the various Financial in your health care directive these things will you know what help you prevent probate where your state or country will stay how your money is distributed Once you walk out or not that's not so much the big thing it is if you have people you love and that's your plan but when it comes to the power of attorney of your financial help your doesn't need somebody to make Healthcare decisions and financial decisions are taxes on your behalf if you're not able to because you have Kool-Aid or some other health-related issues and a lot of people are stepping up and getting the trust because you know what we're finding people in their twenties or thirties or forties or fifties sixties all the way up to a hundred are passing away from Komen or they're going into hospital for two or three
and coming out and they need that help the next thing is people are looking at hey what about my insurance policy if my husband sporty and he's the primary Breadwinner or half the breadwinner and passes away how am I going to sustain my family how am I going to spell complete if he's not able to save for retirement and that's done through life insurance a lot of people looking at updating their life insurance and it makes a lot of sense to talk with somebody to figure out how much you need in order to support your family if you have your husband or wife walks out on Life Next Looking At disability now, Kobe vaccine SE we've heard about the things that are happening because of Kobe beef and reference do breathing stuff like that if they get
is there is a building that has been presented by the House of Representatives and said but really what it's about is to provide more flexibility with retirement savings account which means it'll give people better on all playing field the ability where there with a large company working for themselves to stay or OK other two two things online consultation tape expect more virtual doctor visit 2008 things change they are here you will likely see more doctor visit online right like you know what is zoom or Skype or other things like that that industry was just getting going and guess what it's called magnified tenfold just because it covid in the last year and you're going to see more and more with that now one of the last things I want to talk about is technology
the area of the technophobe and it's gone mine has 84 you know what he got his first iPhone at the age of 84 and everybody would but he did and he's learning how to use it he learned how to use Skype you learn how to use zoom during this pandemic and you know what people are going to start connecting not only the video calling the streaming videos the user friendly ass and retire interconnected with all this writing smart home and will likely see that as the future of the the Next Generation and the generation now stick with this we've got Glen Henderson he's going to share with us what's going on in 2020 with the real estate market and what's going to happen here in 2021 as well as give us those 5 bonus for selling your home for the most amount of money so stick with this will be right back more expert advice for having a happier relationship with money still to come on the saving with Steve show
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 into 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
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 hello welcome back to the show my name is Steve Sexton and I want to truly thank you if you your friends and you told your family about her show you know what if you would like to see all the episodes you can go to shipping with Steve. Us saving with Steve. You asked if you really like what you're seeing and fight at transformational for you the insights the chip please subscribe to his on YouTube I want to thank some of our networks DBS Radio UK help radio e360tv Las Vegas TV you know what we're all focused on helping people solve problems with their life and live a life of Financial and personal freedom again if you'd like to join us at saving with Steve Sexton on Facebook and you can get more information special
what is on living with Steve. Us again that saving with Steve Eddington was wonderful oh my God if you ever worked in the corporate world love your own company yet understand what he's talking about how to make sense if you'd like information from him go to Eddington advisory.com and inattention advisory Nikon now we have Glenn Henderson he's been helping people buy and sell Homes real estate for decades in the San Diego area you seen him and heard him a local and National TV and radio Glenn has been helping us understand what the will help us understand what the real estate markets doing are dead in 2020 and what's going to happen in 2021 he's going to talk to us about those five components that you want to stick around and watch for the Glen welcome to the show thanks for adding me on today I appreciate you being here you know what 20/20 was a crazy year just nut I'm totes do me a favor could you just go fill in you know
what were real estate sales like how to work for you guys what are the things you saw on 20/20 that was unique yeah absolutely like you said it was a crazy Year all around including in the real estate market we started off the year normal trajectory from what we had seen in 2019 and then solve it hit Reese Aubrey slow down for a couple months while everybody was figuring out kind of what was happening and then from there in about May the real estate market just took off and wasn't just in one Metro or 1 market but pretty much across the country and it was really fueled by two things inventory and I'm historically low interest rate so inventory may need the number of homes that were on the market and because of covet and everything going on a lot of people hold their homes off the market and they weren't selling anymore so inventory or number of homes on the market was down almost 40% Across the Nation at the same time we had
interest rates drop below 3% which we haven't seen ever Urban near it's been decades and that and we are looking at interest rate and we went back over 70 years to where we even got close to where the interest rates are right now it's that little never be like that in our lifetime exactly so we had these excellent rates driving the market and then the third was because of covered in the lockdowns people's with a priority that they put on housing and what they were looking for there is a dynamic ship than what people needed for Suburban living had not been as desirable in a lot of markets and everything Suburban living see growth and the demand for Suburban living vs. Marvin Urban Hive Market the growth was disproportionate it was amazing how much of a ship there was because people were not working from home since we're at home they couldn't go out and do things that I needed Outdoors
really incentivised or caused a lot of people to want to move it wanted to take advantage of the low rate so it created The Snowball Effect of just home starting to get multiple offers prices starting to get fed up and then is that continued from just a psychological standpoint of people seeing what prices were doing seeing others moving in feeling that sense of why I don't want to miss out I need to get in before Crisis get you high if brought more people in and it really just the confidence came back into the market says the snowball effect of all these different factors said put us into a situation were depending on what are the country you're in it as markets were up almost 10% over 20% of our sales prices median home prices put the number of sales for the year were down almost 30% he was interested you know I know a number of real estate people and some people are saying you know at our sales are down about 40% While others it's off and my understanding is yours was
who is really interesting is that people who understand how to work in the business and help people they did very very well I have a question I know there still a ton of people looking to move out of California and they saw that housing price of getting bit up and then use that as an opportunity to springboard out to the state they want to move to yeah I know where you seen a lot of that or a huge amount of that I'd say more than probably half an hour at the sales this year which was just the listing and helping people sell is 55 I'd say supposed to happen if not maybe a little bit more of those people were moving out of state for all over the country there's a lot of different markets there wasn't one that we saw predominantly but there was does it cost of living has got so high here in California and San Diego and it was not excellent opportunity for people to cash out their equity and other areas in 2020 I just want to have this discussion there was not a lot of foreclosures short sales a lot of that has to do with some of the state and County regulate
games where they weren't allowing those things to process the courthouse is there is a moratorium on that is that a kind of falsely inflating are pushing the prices up cuz those properties are being sold or foreclosed on or short sound so if we look at the market we've got almost six and a half percent of the mortgages Nationwide are currently in default there behind on their payments addition to that we have almost five and a half percent of the mortgages across the country or in forbearance program forbearance program through the program set the lenders a lot of people go into that postpone their payments so those are not counted as default but it's some point those programs those people are going to have to start making their payments either see their lump payment or the number of payments a master spread over a 12-month. So a lot of those people aren't going to be able to make those payments which is going to force either lot of them into default or it's going to put them into attempting
loan modification so those people are either going to have to sell or they're going to go into deep well so we can see that default level increased quite a bit and then the people that are currently behind on payment about 80% of those are federally backed loans 30-year FHA or Fannie Mae Freddie Mac pipe loans all of those bone there's the moratorium on any type of foreclosure activity so those people are safe right now and moratoriums been extended three times that currently expires at the end of this month January most likely due to where we're at with covet and falling the past friends I expect it to continue to extend that at least in a couple more times until we're getting vaccines are more widely distributed and administered and we start to see the country make the turn on but once those that moratoriums lifted those homes are going to start going into foreclosure short sales or just being put on the market so we're going to see a big increase in the number of homes actually coming
here's the other part you see a number of people who owned rental properties most of the people I know that have rental properties they're unbelievably grateful because of the tenants that they have because they consistently pay the rent they're not a situation where are the tennis count a minute hey I'm adversely affected here I can only pay 25% are you looking at or expecting to see more rental properties go on the market as well because the landlords are just not receiving the rent at some point IDs we do things we expect that we're going to start to see more coming on and that's going to be a tough situation and those types of situations are tough sale because as a buyer you inherit a tenant in default on their rent and there's more Claymont evictions so those properties are going to beat you do so is a fire going to expect a discount to an APO take on that risk and not basically inherit that problem a lot of sellers are holding off putting them on the market right now and trying to weather it
Drake so stick with his right back with some more information from Glen Henderson again this is Steve with sitting with Steve show will be right back more expert advice for having a happier relationship with money still to come I'm the saving with Steve show
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 where did he talk about the in an ounce of money does Financial issues it 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 tuna 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
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 welcome back to the same thing with Steve show where we talked about everything under the sun as it relates to money or you to have a happy healthy relationship with money we're talking with Glenn Henderson right now about you know the lower interest rates in the market and where they were likely be in 2021 and love for you to finish your point they're so right for a 2021 or forecasted increase by the end of the are all the reports and work outside so I can be anywhere from maybe three three or 3.1% of 3.33 Point four-per-cent are still phenomenal race and still looking at the trend do you know it's a very low end of the spectrum but we're if we're increasing almost half a point that changes the affordability and it changes the amount of bars
hour-by-hour that somebody has some combination of race coming up in an inventory racing it is going to help to stop in the market somewhere which the market needs to tell her it's fantastic but from a by and just from a long-term health of the market it's not sustainable and it's not really healthy right now but I think 20 21 so I don't necessarily think we're going to see a big crash slow down but I do think we're going to see thing stopping quite a bit and start to get back to more of a normalized market okay so another words instead of having things neocell for sale $400,000 or $50,000 more it's going to sell run around 410 415 maybe near three to 5% more than asking for a tasking exactly exactly what I'd like to do is sit transition into you know what you know what I was alerted about one of your clients who was looking to sell a home and you
recommended hey let's upgrade these things and you know what could you tell us about that experience and then walk us through your five components your Vibe padding components for selling a house for the most amount of money absolutely we have another example that is very relevant we just went into escrow this week but it had been a the sellers moved out of the state a few years ago he was military got transferred out his orders so they've been renting the property was the townhome the tenants moved out of the property it was not in bad shape but it was very worn it look like a tenant have been in the property for a long time and not maintained at the back very quickly and get a boarding at probably 4 or 24 like that and no problem at all instead we made some small repairs
really did a nice job in the backyard put in its mother improvements put Court up in the kitchen but in total he spent about 15,000 on the repairs and then when we sold sold it for a $15,000 investment we sold for about 60 65,000 more than we would have sold or if we hadn't done anything so basically you sold a house that social / 425 for 485 it cost $15,000 and you're looking at almost a $45,000 increase just because of a some upgrades the place that's wonderful that's great good job walk us through that mirror those five components cuz that's it that's what everybody wants to hear this that's the meat and gravy here so we follow this process on this procedure with all of our clients and this is what helps us sell for so much more in that property we just gave the example we sold for 40
thousand more than the last exactly same model that it's sold in October of last year so it starts with number one and we called our pre-inspection so the pre-inspection is normal in home inspection of the home same time you sell a property a buyer comes in does their home inspection and they use that as an opportunity or a second point of negotiation to start nickel-and-diming as things like that so we do the inspection upfront and by doing the inspection of front were able to identify any issues or anything that needs to be repaired and in addition to that that's our walk through as well and identifying what can we update what can we improve what can we make this up due to make us some more sellable approve the curb appeal things like that so then we get to the second part which is the staging staging consider two parts so the first is completing any of those repairs cuz I feel station is anything that improves the appearance of the home so we can play
the repairs we identify the things like paint yard curb appeal anything that we can do to make that house really stand out and then the second I was just going to say you know I I know like if it was my wife loves all the family pictures and everything like that and I've been to some people's houses where there's just hundreds of family pictures there is that a good thing or bad thing cuz it makes it really hard for somebody like me to walk in and got yeah I can see myself living here and there's too many pictures here is the actual furniture and personal belongings in Furniture we stayed there and we'll make it look like a model home now for our sales are buying stuff going through the property with them and it is it's removing personal items it's for moving photos taking a lot of furniture out and it's a process we go through with our play
room by room and basically minimizing staging furniture in the right way to highlight the room sometimes we bring in some furniture like we might have a room that sellers are the bedroom that they're using for something else they'll take the stuff out and we'll bring in a bedroom set to make it of bedroom again but it's working with the sellers the really just make it look as neutral as possible and a sense of removing those personal belongings and then the buyers can come in and visualize themselves there and then third part is the pricing on the pricing extremely crucial because what it is is finding a balance of the market price and pricing at a point where buy that's in line with other sales but not a not pricing at too high and because the thing is if you price a home too high what happens is then you're going to lower the amount of interest that you get and you put the buyers in more of a position where they're in control of the new Goshi ation they're able to stay
should be worth or 60 instead of 480 or whatever price point or instead price in it at market value create more interest with the property so that's a big misconception a lot of sellers have as they say why want to start negotiating you wanted to go she ate up not down Glen just out of curiosity on this house I just went and asked her how many offers did you get 41 okay so there was a little bit in their normal with had a couple but where's Oliver recent sales we've been getting at least 8:10 offers on our listing price up that's wonderful all of our sales we've had multiple offers and we've been negotiating above the listing price that's great that's great and it's the marketing and this is where a lot of Agents real I mean they miss it in a lot of spots but miss it on the marketing spot standpoint toon marketing instead of two points to this stuff first is the actual the materials or them are
chainsaw professional-quality photos we do the virtual walkthrough swear somebody can breed a walk through a house from their computer or phone which has been we used it before covid-19 with over them people want to minimize their exposure it's been a huge place because people can actually new home from the kuna their home in from the safety of their home we do two dimensional floor plans we can video we do a lot to really highlight the home and show as many of the features as possible and then actually didn't know the actual marketing of it is making sure that we not only use of the standard channels which is most what most agents do they put it out there and just wait and see what happens when using the major Real Estate websites the MLS and things like that we proactively Market our listings and what I mean by that is like social media has been an excellent tool for us because we can reach very very broad demographic and the sense of all you can Target at certain area we can start Target the state whatever
and then we can also Target people that exhibit certain behaviors of people have been visiting Zillow have been visiting Real Estate websites we know that they're probably potential buyers so we can Target them with our adds another great example is a lot of people are leaving the Bay Area and Seattle right now because they're working tech industries were they now or going to be working from home permanently we have a lot of them moving into San Diego so we can park San Diego we can park at those areas where we know people are moving into San Diego sweep are very active in our marketing to do want to create as much exposure as much interest that we can get as many showings and get that price driven up for a client that's great and then what about negotiations and then that's our final final component so we do everything right with one through four we get that situation where we have the multiple offers and one of the big things that we do is we have a very specific system of we go on the market on
Thursday we start to have a week start the pre-marketing that before that but then we start the full campaign we go live on the market and then we Friday afternoon Saturday Sunday Monday submitted the property we make sure that we have a few day window of interest in people coming through the house and with a negotiation strategy is did the first offer use the first offer to drive the price up on the second offer and basically create that bidding war in the negotiations as we're really Excel and we get an hour able to get so much more money for our clients and one we just used in illustration of this on Monday when we did our formal review of all the offers on Monday evening I was explaining to him when we got certain offers one of the offers came in on Friday and it was at 4:50 short escrow everything else and then they said to me they like wow there
like we would have taken that and would have been excited with that on Friday but thank you for encouraging us to follow your plan and handle it this way cuz we got them $35 but what happens if a lot of Agents they get that offer and they go to the sellers and it's like are let's take this and where they could have got so much more money for the property if they'd had a system in place that they work the system and if they had properly negotiated created outfitting situation and driving the price up and that's what we do so effectively work if I take him to take the offer on Friday I would have missed the hundred and something phone calls I had between Saturday and Monday and I wouldn't have had all the text but I'm not looking for easy I'm looking for you know results that's wonderful we're actually at the end of the show him and I know people that want to get ahold of you and use your process how can I get ahold of you so you can give me a call at six one nine five hundred three
222 or email me at Glen at the sd.com then our website is my Premier Homes. Com website one more time my Premier homes.com and thanks for joining us thanks for sharing that information is wonderful you're looking to sell your home there's some five components that you're going to want to follow in order to make sure you get the most out of it thanks again Glenn will see you next time saving with Steve will look forward to seeing you next week right here on saving whiskey and I hope you have a wonderful week and stay healthy 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 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 save with Steve show hosted by Steve Sexton