Real Estate News Radio with Rowena Patton

Mastering Real Estate Challenges: FSBO, Rentals, and Life Transitions with Rowena Patton

February 03, 2024 Rowena Patton
Real Estate News Radio with Rowena Patton
Mastering Real Estate Challenges: FSBO, Rentals, and Life Transitions with Rowena Patton
Show Notes Transcript Chapter Markers

Ever considered selling your home solo or pondered the intricate dance of property division during a divorce? This episode is brimming with wisdom that could save you time and emotional energy, whether you're signing real estate papers or downsizing for retirement. Join me, Rowena Patton, as I discuss the For Sale By Owner path, short-term rental optimization, and navigating the choppy waters of selling property amid life's transitions. With the expertise of our guests and the real stories of those who've walked these paths before, we open the door to a smoother real estate experience and the possibility of making informed decisions with confidence.

As the conversation unfolds, we delve into the business behind short-term rentals and the significance of repeat customers. Our expert guests provide a treasure trove of insights into dynamic pricing tools and services that enhance your property's value before selling. Community heroes, take note—we spotlight special financial programs available to you. And for those approaching retirement or downsizing, we discuss the emotional and practical sides of this significant life change. With tips on decluttering, strategic planning, and estate sales, you'll find support for a seamless transition.

Finally, for those facing the daunting prospect of dividing a home in the wake of divorce, we reveal innovative solutions that prioritize dignity and ease. We introduce DivorceCPO.com, a service that simplifies the process, and discuss the benefits of cash offers for facilitating moves to assisted living. Throughout, we emphasize preparedness, from preemptive home inspections to evaluating your home's worth before it becomes an urgent necessity. So, grab your headphones, and let's arm you with the knowledge to navigate these complex real estate scenarios with grace and wisdom.

Speaker 1:

This is the Plain English Real Estate Show with your host, rowena Patton, a show that focuses on the real estate market in terms you can easily understand. Call Rowena now. The number is 240 9962 or 1-800-570-9962. Now here's the English girl in the mountains, the agent that I would trust, rowena Patton.

Speaker 2:

Good morning and welcome to the Real Estate News Radio Show. You can get all the links you need at realestatenewsradiocom. This is Rowena Patton. I run a real estate company called All Star Powerhouse, brokered by EXP. There's everything out of the way.

Speaker 3:

And all the legality is covered.

Speaker 2:

And it's Randy's birthday month. Month, yes, month. His birthday is on the 13th, a day before Valentine's Day. I just claim Valentine, oh my goodness. So today we're talking about getting ready to sell, not getting ready to list, because you don't want to just list your house, you want to actually sell it. So let's start with for sale by owners. Maybe you're thinking about going for sale by owner out, maybe you're already a for sale by owner, so we can help you with the documents we need. Give us a call, we'll come in and see it. We'll also bring with us a full market value cash offer, which is pretty cool. You can actually see a video on this. I'd forgotten I'd put that one on there FisboCPOcom FSBOCPOcom. For those of you who don't know what Fisbo is, it stands for for sale by owner, fsbo. So it's interesting. The characters that were making the video couldn't understand Fisbo, so they go. So I had to write F-I-Z-B-O, fisbo, yeah, so they could actually pronounce it. So you know you might be looking to sell your property for sale by owner. Selling it on your terms can be a very rewarding experience, and it also comes with its challenges. So FisboCPO experts were here to empower you with the knowledge, tools, support needed to navigate your Fisbo process successfully. And if you're a current Fisbo, oh my gosh, give us a call 828-333-4483. This is not your grandpa's or grandma's cash offer. It's not cents on the dollar, I promise you, it's a full market value offer. So the way it works is that you get the majority of your equity out right away. We resell it for you using everything that we can, all of our tools. I'm at over 3,500 sales in this market. I know I sound funny, but I've been here a while. English people think I'm American. Now, yes, really, they should Funny, right, well, I am American.

Speaker 3:

Exactly yeah.

Speaker 2:

I mean from my voice like oh, you sound so American Americans think I'm English, so I'm a misfit, but we know all about that already. So you know, selling your home Fisbo doesn't mean you have to go it alone, so we've got experts all over the country that are highly trained in doing this. Of course I'm it here. So 828-333-4483. If you've got any questions on this and if you're watching this video after the live broadcast, this is broadcast live every Saturday at 10 o'clock. However, if you're listening in live today, you can call us at 800-570-9962. 800-570-9962. And if you want to see the podcasts for these, the show is podcast. After it is live, you can go to realestatenewsradiocom. That's realestatenewsradiocom. And if you've got, you know, maybe you know friends or family around the country that are thinking about listing, or I don't know. They've been listed for a long time and their listing has expired. You know it's a stressful time when you sell your house. It's really stressful to go to. So go to realestatenewsradiocom and share the link with them. You can listen anywhere in the country, anywhere in the world, with the link on there. It says listen live. It's a great big red button. You can't miss it, realestatenewsradiocom. Share it with your friends and let them listen in too as we go through all the different kinds of sales that you might be thinking of. So you know, with FISBO we have all agents around the country, have amazing lists of people that can do things for you that attract people to the home at a higher level. So what does that mean? Have us in to take a look at your home. We'll do comparable listing analysis for you. In other words, look at other homes for sale and why they haven't sold yet. You know, it could be an estate sale. It could be all kinds of different sales that are pulling down your price or expected price right now, or maybe your colors, or maybe your countertops, or whatever it is. We'll take a look and we'll be able to help you with that. So if you want your cash offer, it's a full market value cash offer. Quite honestly, I don't know why anybody wouldn't want a cash offer to at least take a look at it. It's a full written offer. You can put it in your back pocket and, you know, use it, pull it back out anytime you like. We may have to revisit the price at that point because the market is flattening a little bit here. We are seeing lots of price drops. I just saw one this morning that had dropped from 435 to 380. So we're seeing quite a few price drops and obviously is those properties sell, especially if they're anything like yours. So in other words, if it was built in 1980 and it sells at that low $50,000 less, that's going to affect your comps. Appraisers used to look at whether or not it was sold in foreclosure or whether there are any special conditions. They still look at that, but my understanding from the appraisers is it carries less weight these days. So it's, you know it's more and more people need to sell. Obviously, there's divorces out there. There's estate sales there's. It could be a pre foreclosure where you're forced to sell your house. Essentially, then people will take less money. People are saying, well, but my house is perfect, there's no way that I'll get into that. Well, the problem is the other closings are what they look at for the comparable price and even though we get cash offers here in other words, a buyer comes in from New York and may or may not pay cash A lot of properties are using funds from a bank, ie a mortgage. So what that means is it needs to appraise, and this isn't my first rodeo. I've been through this before in 2007. Every seven to 11 years sometimes it's a longer cycle economic cycle set up by good old Clemence Euglard back in 1816. Nothing much has changed. It's normal. And all the time I'm having people come up to me and say and discuss this, even agents who say, oh, it doesn't happen in Asheville. I cannot tell you how often I hear that it doesn't happen in Hendersonville, it doesn't happen in Waynesville, it doesn't happen in Black Mountain. I've got news for you folks it does. I'm not trying to be a Debbie Downer here, sorry for all of you who are called Debbie. I'm not trying to be a row downer. There we go, but the thing is it goes up, it comes down. Now, in the long term it goes up. So if you're prepared to I always say a 10-year cycle because the math's easy if you're prepared to hold on to your home for 10 years, it will most likely very, very high chance that it's going to be worth more than it's worth now. But for everybody that's not. Maybe you're in your 50s, you know, and the kids have left home and gone to college and you don't want to be in it for 10 years. Maybe you can't deal with the steps. You know, maybe you've got stairs and you don't want to deal with the stairs anymore. I had a seller last year who his knees were not up to going down the stairs anymore and he was just tired of it and the kids had left 20 years ago. It was time. So let's move on to short-term rentals. Short-term rentals are really interesting. Obviously, it causes a lot of agony and angst, especially in this area and in many areas now where the hotel lobbies have come along and you know they don't want any vacancy and short-term rentals affect that. And then there are people that say, well, it takes houses off the market that would otherwise rent for long-term. There is actually a whole show on this that you can listen to at STR. Str stands for short-term rental, strcpocom. The whole show is on there where you can. If you've got a short-term rental or you're thinking about having a short-term rental, you can go on and listen to all the details on that, so we can help you with that. Thank you, we also promote your short-term rental On that site STR for short-term rental, strcpocom. You can enter your details and we'll give you a survey as well, if you're. Maybe you're providing services to short-term rentals so you can get recommendations for property management, cleaning opportunity to mastermind, sell it with other STR agents. There's a link on there where you can enter your details STRCPOcom. So let's come to selling or preparing it to sell, because that's what we're talking about today. Many people who have short-term rentals don't want a big sign outside because they've got people coming in to rent the house and, as many of you know, short-term rentals it could be that you have one in your basement. When I lived in Black Mountain, I had my daylight basement as a short-term rental. I put a door at the top and, as many people know, the key year in short-term rentals is year two, because people come in and if you treat them well, they want to come back. They like that security of going back to the same place. If they like it so often, they're worth a lot more in year two. So we can help you with whether it's strategic business planning, it might be developing that comprehensive business plan that outlines your growth trajectory, potential challenges in this market, opportunities. A lot of people are buying STRs all around the country as an investment and as well as effective rate optimization. How do you do that? Like the dynamic pricing tools to balance it. So if you're thinking about selling it, I want you to think about the full market value cash offer. Here's why no signs outside. You get your offer. We're doing one of them right now, actually STR, cpocom. You can just click on cash offer and see. You don't like many of the cash offers. Say, see what will offer you. It's usually 60, 70% of your value. That's not what this is. It's a full market value offer. So why not get the cash offer? It doesn't cost you anything. We're not going to be calling you three times a day or anything like that. Just see what it would be. If you're thinking about selling, there's no sign outside the door. There's nothing like that. So, because it's a business, I want to talk a little bit about that as well. There are many people in this area we're actually doing one right now. I'll be able to talk about many more details when it's all closed and finished that have a business in their home. If you have a business in your home, you don't necessarily want people to know that your home is for sale, because that means your business is for sale as well. So again, this can be. We're doing one over a million dollars right now. It could be that you have a business in your home or maybe a workshop next door or something like that, and you might just supply to local people. You might be an accountant, for example. Lots of accountants have their business in the home. It might be that we need to do a little bit of work to the business area of your home. Maybe a workshop, scott, we did one last year that had a big metal building outside oh my gosh and was full of stuff. It may be that we do things with that stuff, but the difference is the cash CPO team do it. You don't have to do it. So if you have a business and you're thinking about selling, we can help you with that. Why wouldn't you want to get that full price offer? This isn't just for distressed properties. I'm working with a company that has bought homes since 2017. They've never not sold one once. They take it on and you can use their money up front to fix everything. So, whether that's getting the stuff out or painting the walls or maybe putting another wall up, because you might have a four bedroom septic but you've only got a two bedroom house, but you've got room to do it because you chose to use that room as a big, open finish basement or something like that. We can use their money to do all the fix ups and then you get all the profit. That's why two thirds of our sellers get more than with a traditional listing. So, whether you're a short term rental which of course is a business, strcpocom or you have a business in your home, think about doing it this way. I mean really anybody that's thinking about listing or prepping for listing why wouldn't you get a cash offer? It's a full market value offer, no showings. You don't need to fix anything up. I know many of you are out there right now thinking about oh, we've got to paint the walls because I know Lime Green is my favorite, but it's not going to be everybody's favorite. I'm looking at the ones that are sitting on the market right now and I can promise you colors. Maybe you've got full micro countertops and houses here are so expensive. So we're looking at four, five, $600,000 hard to get anything under $400,000 and they've got full micro countertops Anywhere else many places in the country. They would think that's laughable because for $400,000, you can buy a four $5,000 square foot house with granite and all the modern everything. So many people would think that's laughable. So we can come in and put those countertops in. We can come in and paint the cabinets and put new all those things on your honey-do list. That's what it is. Oh honey, if we did that we'll get more money for our house. Well, you'll get more money because we can use their money to do all of that and then sell it and you get the majority of the profit. It's a really, really great plan and of course it saves you having those contractors in to fix up and all that good stuff. And then we've got heroesmlscom Heroesmlscom. You'll know we've given over $800,000 out to heroes. These are veterans, police and firefighters. We love to help you. We've got a program for you heroesmlscom. Now there are some provisos on this. Generally they'll approve properties between $350,000 to $6 million. There are very few properties here that are over $6 million, so that covers the vast majority of you. They will take lower ones sometimes, as long as you've got the equity there to do it. So if you are lower than that maybe it's a condo or something still put it in at cashcpocom. Okay. So that's heroes. We donate to Tunnel to Towers. Tunnel to Towers actually endorse us through this program, the agent that you use again anywhere in the country that are part of this program. We have about 1200 zip codes now covered all over the country where we're offering the full market value cash offer because so many people are preferring it to the old traditional listing. Let's talk about relocation. Oh my gosh, how stressful do we think relocating is. It's incredibly stressful. I'm in the Relo CPO now, so relocpocom we can help you in all kinds of ways. Through this we can help your company. So if you own a company out there, check out relocpocom. We don't have all the fees that are normally associated with Relo companies. All the agents around the country who are running the Relo CPO and it is a lot of them, it's 11, 1200 agents all over the country now, including me, of course in this area we don't have those fees, so we have lists of providers that we can use for you. There's a certification course as a Relocpo expert, so we've got those experts everywhere and it is to get that seamless transition.

Speaker 4:

It's never seamless. Let's be honest, it's still gonna be stressful.

Speaker 2:

You pack in where you're at, you know, and everything else. I've also got all kinds of lists of turbs for you that you can buy. That may, it's always the little things right. So there are blog posts on there. Go more and click on blog at cashcpocom and there are big clear turbs that you can buy. I've just used them now and I'm so thankful again. I bought them years ago. You just reuse them over and over again. They stack. They don't take up much room or, if you like, many of us the stuff that you move stays in the clear turbs. You can see what's in them. You know I've put labels on them or anything. They stack very easily for the movers. You take them out, you put them on the shelves in the garage or you just stack them up and you can see what's in them. And they're much more protective than boxes. You don't have to break the boxes down at the other end or recycle them or anything else, and you can use them for storage when you get to your next house, Cause, let's be honest, probably 50% of what we move would ever gonna use. You've ever been through that, Randy?

Speaker 3:

Oh my goodness. Yeah, you're exactly right. It's stuck in a closet, somewhere cluttering a closet.

Speaker 2:

Yeah, I let two thirds of my clothes go last time that I moved.

Speaker 3:

Two thirds.

Speaker 2:

Yeah.

Speaker 3:

I saw a picture of a Facebook of your. Oh gosh Of where you were doing that.

Speaker 2:

Yeah, I should take a picture now, cause I had a friend help me the other day it was amazing and wrap them all up in trash bags, you know, and bring them over six hooks at a time. So now I'm buying a rack to actually put them on. Well, I'm, you know, living my hippy life right now.

Speaker 3:

Oh, yeah, yeah, couch surfing.

Speaker 2:

Couch surfing? Yeah, exactly. So it's all good New adventures, we all need them. And how about retirement? This is a big one, because usually if you're thinking about retirement and here's what the current market is doing to that so if you're in your fifties let's say you're 58 and you're thinking well, you know, I'm going to be retiring in six years, seven years, maybe 10 years. So if it's coming up and you're retiring in two or three years, you could well be at the bottom of the market. So if you're in a five bedroom house or a four bedroom house or even a three bedroom house, and it's just you and you're thinking about retiring, I really want you to think about retirementcpocom. Now, these are all certified agents anywhere in the country. Of course I'm it here, shocker, you know it's. You might be ready to embark on a new adventure in your retirement. You might be looking to downsize, you might be looking to relocate or just embrace a new lifestyle. Maybe you're thinking it's too chilly for me here in the winter now, or I just want to you know I'm from Florida or I want some warmth in the winter. So your five $600,000 house could equate to a condo in Florida and a condo here maybe, or a smaller house here so that you can go between the two and get some warmth. Maybe you join us to start to hurt a little bit. Do you have any of that, Randy?

Speaker 3:

Let's don't bring that up, because it's my birthday month.

Speaker 2:

Yes, I'm reminded.

Speaker 3:

Aww, or be closer to the grandkids.

Speaker 2:

Be closer to the grandkids absolutely.

Speaker 3:

That's a big one, I know.

Speaker 2:

Yeah, maybe you want a place here and there. I just actually invested in a condo $155,000 in a gated community with a pool in Fort Lauderdale. My word, yeah, I mean, try getting a condo for that here. Oh, no way, and it's all you know. It was some inside knowledge and everything else. But we can help you with that. If you're thinking about that, then we can help you with that too. We have agents all over the country that are running these programs and we can make it much more seamless for you. So unlock your equity out of that big house. You don't have to fix anything. You don't have to do anything. Chances are, if you're thinking about retirement, then retirementcpocom. You can find all this info there. We can help you, you know. Go on to your next chapter. Oh my gosh. I mean it's a really significant decision and all our agents are trained to understand the both the emotional and practical complexities of selling your beloved home. You've been in there a long time. Often. Maybe you've just been in there for a while and you're worried. You know you're not gonna make any equity out of it. We can help you with all of that. We're not pushy. I don't let anybody in the program. That's pushy and, like I said, we've got like 1200 people around the country right now who are doing it. We'll guide you through the process and at least alleviate some of the pain associated with. You know, this is a life-changing transition, absolutely. It's really cool. I can tell you that. You know I work really hard. I work seven days a week and I'm really looking forward to having a weekend down in Florida because you can get a legion flights Real cheap, yes, and the legion to from Asheville to Fort Lauderdale. They say it's Miami but it's the Fort Lauderdale Airport. You can get them as low as 50 or 60 bucks one day. I mean, that's like the price of going out to the cinema.

Speaker 3:

Really.

Speaker 2:

And if you've got a place down there where you can leave your stuff and it's got a pool, and this is only a mile from the beach. This is not inland or anything Gotcha, and actually there's another one coming up. So if anybody's interested in that, give us a call, 828-333-4483. If you're listening in around the country and you have any questions on this or how the cash offer works or anything else, you can give us a call at 800-570-9962. That is 800-570-9962. If you're listening to this on the podcast, ie if it's not between 10 and 11 on a Saturday morning, don't call that number because it's the radio station. Call our regular number, 828-333-4483. So, retirement I've helped so many 3,500 sales in this market at this point. I've helped so many people through retirement. It might be my favorite.

Speaker 3:

Actually I'm sure that one's. Yeah, I see happy endings there, yeah.

Speaker 2:

Actually a cash offer I'm doing. The one in the millions here that I'm doing right now is somebody that we helped about eight years ago by the house and by their forever home and build their forever home actually, and now they're retiring, because often when we think we're gonna retire, I can tell you personally that I bought my forever home about four years ago and now it's not my forever home.

Speaker 3:

Changes them.

Speaker 2:

Yeah, and I'm not retirement age, but I am starting to think about it because you do. In that final 10 years, you know, oh yeah, and I thought I want one level and no stairs and then I went ahead and finished the basement so it has stairs. But it's a great little house. I have it rented out right now. It's in West Asheville. I love that little house and it will probably stay with me. So you know, opening your mind and really stopping procrastinating because you might be thinking, gosh, we're thinking about retirement, we've got all this stuff in the house. What are we gonna do with it? The worst thing you can do when you're retiring honestly is think about leaving it for your kids to sort out. It's so unfair. Yes, now, maybe you don't like your kids, so it's not so unfair. Maybe they've been evil to you. These guys can sort all this crud out when we're gone, but it is. It's painful to go through. I've just been through it myself, packing up all my stuff to move. You find all the old pictures and your dream of what was gonna be, whether it's your forever home or anything else, or the person you were with. It's very refreshing going through it and coming out the other side. Life's too short, guys, get on with it. Sell that big house and, you know, go to the place to be with your kids or your grandkids. Buy your little place. I don't know in Minnesota, wherever you wanna buy your little place and buy a little place here too. You can afford to do both with the kind of equity that you get from your house in the mountains most of the time. Give us a call 828-333-4483. We'll come in and don't worry if you're not here, we'll set you up with the agent that runs these programs anywhere in the country. So I know you're listening all over the country. We have the person for you. They'll come in whenever it's convenient for you. And please stop worrying about I've got dishes in the sink or I need to clean up because the realtor's gonna look at my house in a certain way or think it's not worth as much, not true? We see through everything, so don't worry about that. Just get us in, we'll take a look at it. I mean, there's no obligation. You know. We can tell you what we would bring the cash offer for, or bring it if you're ready for that. Again, there's no obligation to cost you anything. You can at least see what it looks like, you know, gosh, as you approach retirement, you're finding yourself faced with the prospect of downsizing, and we just talked about this. It's exciting and daunting. It marks the beginning of a new chapter in your life and we are all trained to understand and some of us have big hearts that know that. You know, all those items in your house carry memories and sentimental value and downsizing doesn't have to be that painful. It might be painful to go through in the moment, but oh, it's so refreshing getting rid of all that stuff so that when you're walking around your house you're not looking at that thing saying, oh, I've got to deal with that, even if it's my room, but that doesn't work anymore, you know.

Speaker 3:

Yes, I got two closets that are on my mind. They're on my mind and it's worrisome, you know. You need to fix that.

Speaker 2:

I call it taking up the real estate in your head, because that's what it does.

Speaker 3:

It does.

Speaker 2:

And as we get older, we need all the brain power we can get. And if you've got something lodged in there, oh, I've got to get to this and I've got to fix this. And maybe you just went home to be with the grandkids for the holidays and you got all excited about thinking about thinking about it. Quit thinking about it and just do it. You'll feel better on the other side, and I'm not saying this just because I want your listing. I promise I've seen so many people go through it and how much better it is on the other side and the vast majority of people say I wish I'd done this earlier.

Speaker 3:

Wish I'd done this earlier.

Speaker 2:

Clear container, absolutely, that's what I mean We'll do one more before we go to break, and this is estate sales. We'll have a quick break and then come back. So let's talk about estate sales for a second. This is when maybe one of your parents was left in the house or maybe your parents died years ago, and often siblings fight about it and they say oh well, I want that house. That's usually what happens. You know, we grew up in that house, I want to keep that house and I'm going to buy the rest of you out. And often one of the siblings doesn't have the money to buy the others out. I'm dealing with one right now. That's a court-ordered sale, because one of the siblings took the other siblings to court and it became a court-ordered sale. And maybe you're just arguing about selling it or not selling it or anything else. Again, go to estatecpocom, estatecpo. All the details are on there. You can get a full market value cash offer within 24 hours At least. Then you can go to your siblings and say this is what the cash offer is and this is what the four of us would make out of it.

Speaker 3:

That's smart.

Speaker 2:

And there's a full net sheet with it to show how much money you can make. This offer is particularly good. Maybe you've got an estate sale and, of course, your parents are getting elderly. If one of them pass, maybe Of course there are other scenarios as well, but that's the most common one and they were too elderly to upkeep the home. The one I'm looking at right now needs all new floors, really needs a whole lot more than that. They had a dog and the floors were all destroyed and smelly and nasty and it's all very bright colors that look like they've been that way since the 1980s. It needs a lot of work. So if you do have an estate sale, we can come in. We'll give you the majority of the equity within 12 days and then we use the funding partners money to spruce everything up, and often we can add 50 or $100,000 to the house, because most people do not have vision when they go and see a house. You've probably priced it at 450 or 500 or 600 because you see how the house is selling for that, but when it needs a lot of work, it can sell for $100,000, $150,000, $200,000 less. We can go in, give you the, as is equity now the majority of it 70% of the way equity. Now we can use the funding partners money to fix everything up. Then we resell it and you get the majority of the profit. So most people who are doing a state sale make way more money. So it's really cool. This is Rowena Patton on the Real Estate News Radio Show. If you've got friends listening around the country who are thinking of listening, whatever the condition of the house, whether it's brand new or flip maybe you've got investor friends listening. Ask them to tune in, go to realestatenewsradiocom, realestatenewsradiocom or give us a call at 828-333-44.

Speaker 3:

44., 34. 34. 34.

Speaker 2:

34., 34., 34., 34., 34., 34., 34., 34., 34., 34., 34., 34. 34. Another Waitress liveですを cue to start live on the Real Estate News Radio show on unknmusiccom.

Speaker 4:

IS hanya skboy а and then warmer weather for Monday, with sunshine and a hike by me to 57. I'm Jeff Marr from the Weather Channel.

Speaker 5:

Hi, this is Rick and we sold our home with Rowena Patton at All Star Powerhouse. We didn't really want to move, but needed to for my job. Our first realtor didn't listen, didn't care, didn't try. Not a single showing in two months. A friend recommended Rowena. She saw the hard work we'd put into the home, what it meant to us and what it could mean to someone else. Next thing you know it's sold. If you need to get your home sold and not just listed, you need to talk with Rowena Patton. Give her a call at 828-333-4483.

Speaker 2:

Rowena Patton here at All Star Powerhouse.

Speaker 1:

This is the Plain English Real Estate Show with Rowena Patton on News Radio 570-WWNC.

Speaker 2:

Here we go. Welcome back. It's the Real Estate News Radio Show and you can find all the links you need to listen live or share with your friends, how to contact us, everything else RealestateNewsRadiocom. Realestatenewsradiocom. We've talked about for sale by owners. We're talking about getting ready to list your house or what to do if it hasn't sold right now. We've already covered for sale by owners, short-term rentals, owners, heroes, MLS, fire space and veterans. We have covered RELO CPO, which is when you're relocating or thinking about relocating or you're a company that deals with relocations. Cut those big fees. And now and we've also talked about retirement maybe you're thinking about moving out of that big old house to be by the grandkids or downsizing, or maybe you want a little place in Florida or Minnesota or wherever. You want your little place, and a little place here too. Who knew you could unlock your equity and maybe do that as well. We have all kinds of loan programs for you as well. We can advise you on that when you want a second home and rates have come down a little bit, Thank goodness. We've also talked about retirement and estate. So estate sales when maybe your siblings fighting with each other about whether to sell it or whether to keep it perfectly understandable. And now we're talking about the big D divorce.

Speaker 3:

Dum, dum, dum dum.

Speaker 2:

Yeah, really, really I need my little sound effects machine here, wouldn't that be cool. It's funny that radio stations don't have. That actually, where you just press a button.

Speaker 3:

Well, we have some.

Speaker 2:

But I mean like a little machine right here. You know, like the sound machines that you put by your bedside table to pretend it's a fan, or an ocean coming in, yeah. I like those. The ocean's awesome. So let's talk about divorce. So often, divorcing couples are in the midst of detangling some or all of their joint possessions, fighting about it, and, of course, including the family home, which tends to be the ground zero. It tends to be the biggest asset that they have. Then you've got the custody battles over children and custody battles over pets. Oh my gosh, that's so, so hard. I left my two big doggies that have been in my life for three years. That was incredibly hard.

Speaker 3:

Yeah, I'm sure.

Speaker 2:

You know, and going back and packing it up and they were literally squealing. They slept with me every night. It's just my babies. It's very, very hard and obviously if you've got, you know, your partner involved and kids involved, it's even harder. If that can be and it's, you know, like we said, it's ground zero. It's like the ground zero minefield on the road to divorce. When it's the house we did just do a divorce CPO, so divorceCPOcom that allows you not to have showings, not to have to fix things. Generally, when you're going through a divorce, the house might not be perfect because you've been fighting for a while and one of the biggest reasons for divorce is the fact that finances can be tight. You know, maybe one of you has lost the job or had medical issues or something like that. So you know, you add into those financial aspects a huge dose of emotional strain and stress. It's no wonder that on most divorce scales, divorce takes the number two position. The number one is death. So death of a spouse is number one, divorce is number two because it is, I guess, like the death of a spouse. Very sure they're not actually dying, yeah, and they're like, oh my gosh. So you know you can do this yourself too, so you can handle it as a traditional CPO. I've been doing that since 2007, where maybe sellers pay for their own inspection and appraisal. So we know what the issues are going in and you know some sellers want to fix it themselves. However, if you're going through a divorce, that's not necessarily the best way. Remember that two thirds of contracts drop out, two thirds, let's see the way around, sorry. Two thirds of contracts go ahead, a third drop out. Why do they drop out? Because they have the inspection and the appraisal when they've put an offering on the house and they don't like what's on the inspection. Easy way around that, if you don't have the money to fix the things, is to just disclose them. So you can pay $4.50, $5.50 for the inspection. Disclose the items on there. You know, fix the nitpicky things if you want to Just disclose them and people get scared by that, like, oh well, you know, now they're going to see things are wrong with my house. Every inspection report has almost every inspection report has 40 plus items on it. It's normal. Any agent will tell you that If you've been through buying or selling a house recently, you'll know that's the case. So a third of them drop out. You don't want that. Why? Because then you have what's called a stigmatized listing. That means that everybody calls you. Any agent will tell you this again and says what's wrong with it. Why didn't they want it? Do you have an inspection report? So just go in eyes wide open and put that there. Now, if you want to do a divorce CPO, a divorce CPO is where you'll get the majority of the equity out right away. Often, you know, mom or dad is left in the house on their own and they don't want showings. They're already going through this stressful time of a divorce. So the way this would work is often one partner's in the house, or sometimes two partners are in the house. You'll get up to 70% of your equity out right away within 12 days that quick. You can stay for 90 days if you want to. You choose your move out date and then we go in, we freshen it up, we take all the sadness out of the house. Basically, when it's in a divorce situation, we might paint the walls, we might do nothing, we might put new countertops on. We definitely will do the inspection and the appraisal. We have a funding partner that funds all of that. It comes off the profit at the end, so you don't have to fund it upfront. You can then move out in 30 days, 60 days whenever you want to move out, 90 days even, and we'll go in and we'll paint the walls, put the new countertop on, we'll fix everything on the inspection report, whatever it takes, and resell it. Two-thirds of sellers get more than they would with a traditional listing, but that's without all the bother of the showings and having to fix things, and people, when they compare this program, aren't thinking about. When you have a traditional listing, you've got all the costs that come in when you're under contract and the buyer does the inspection report. It still blows me away that all listings aren't put on the market with an inspection. They really should be. It's just a way, better way to list a house Because everybody goes in eyes wide open. You're not surprised two weeks later when the inspection comes in and everybody's negotiating again and buyers here and many places in the country now can back out for any or all reason. They don't even have to give you a reason. That was changed in 2011 when they backed out. Then they could back out if they didn't get a mortgage, for example. That's gone away Now. They usually came up with reasons or fandangled reasons to get out then too. But now they can get out for any or all reasons. And as the market softens and I'm talking particularly about North Carolina right now we have this thing called due diligence, where the buyer puts some money down. But that could be zero. It might be 500 bucks, it might be a thousand bucks. Usually they're not putting that much down and that goes to you directly as the seller. But trust me, that amount of money doesn't pay for the stress when a third of them drop out. So this way you can do divorcecpocom you can hear a whole show on that at that link divorcecpocom On average, sellers are getting between 90 to 120%, that's, two thirds of sellers get more Many sellers now around the country. The list to sale ratio, as we call it, is 95%. Anyway, you don't usually get 100% of what you list it for, not in a declining or flat market, which is what we're in right now and that we see that only declining this year. Even Zillow has said that they see a drop this year and that should continue for three to five years if it follows the cycle set up by good old Clemage Euglard in 1860. And up and down, up and down. Think about the stock market and what you see. In the stock market Do we get little blips where it goes up, surely, and then it goes down twice as much, and then we had a little blip again, it zigzaggy all the way down. So you want to think about it now. If you thinking about it, let's get you out before the rush of listings. Come on. Why people wait until there's green leaves, I just don't know, because that's not what we're looking at when we want to house. I'm going to see one today for me and I could care less about the green leaves. I'm looking at the house that will be a bonus when it comes in, and most buyers feel that way. There's very little competition right now, so your home still could be bidder. It doesn't happen often, but you likely get more for it because it's not much competition. It's just like cars when you're looking for a certain type of car and it's very, very popular, you pay more.

Speaker 3:

Same scenario.

Speaker 2:

Same thing, yeah. So let's talk about assisted living. We've done a number of these two. It's another one of my favorite ones. The owners who are selling the home tend to be a little older, obviously, because they're thinking about one of them going into assisted living. Maybe one's got health issues and the other one's been struggling with those health issues. I helped somebody just last year where this was the case. He'd been struggling for about three years with Alzheimer's and he was slowly going downhill. He was going up and down the street, going in all the mailboxes and poor thing, lovely, lovely man. He used to be an engineer and they were in a situation where they had a great house and it was a great house when they bought it. It had lots of carpet, it had popcorn on the ceilings. So there was about $160,000 differential in what we were able to sell the house for how much 160.

Speaker 3:

That's amazing they had an unfinished basement.

Speaker 2:

So we were able to finish the basement in just two weeks and add all that square footage, paint the cabinets upstairs, put new flooring down, take the cabinets out in the bathrooms. So that was a major overhaul and it was perfectly livable. People go oh well, it's perfectly livable. You hear that from agents all the time. But it's livable as it was in 1980 and most people don't want carpets anymore. So assisted living you get the phone call, our unit is ready and then you've got to be ready to jump. And that was okay when we were in the market of getting multiple offers. We're not likely to be in that for the next three to five, if not longer. That traditionally would be the bottom of the market. Then it starts climbing again. So when you put your house on the market let's say it's a $400,000 house you want to think about two or three months for selling it at least, and if it's got anything that it needs doing and it's not competing well, it might take longer than that. That's not good if you're thinking about assisted living, for obvious reasons, because you've got to put your money down. This is such a great program, assistedlivingcpocom assistedlivingcpocom for people in this situation, because again. We can get up to 70% of your equity out in 12 days or 30 days or 60 days or 90 days you choose the move out time or just put this cash offer in your back pocket so that when you get that call we're ready to go. That's the thing about procrastinating. It's like, wow, we might, may do it this year. We may not do it this year. If anywhere in the country where you're thinking about doing it, get your assisted livingcpo expert out now to take a look at the house. None of us mind we're going to look by the carpet you want to replace or the colors on the walls or anything else. We'll look by it all. Don't be embarrassed, we're very, very used to it. We'll come in, we'll take a look at your home and we'll give you the full market value cash offer now. We'll also tell you how much more we think we can make for you and then you can if you get the call. There's lots of scenarios again, but let's say you've got the call already. We can get your money in as quick as 12 days even sooner. It's amazing.

Speaker 3:

Wow. And there's a waiting list for most of these popular retirement communities For years. Often it's years.

Speaker 2:

So if you're an assisted living facility, get in touch with us because we want to know about you. Maybe you work for an assisted living facility 828-333-4483. Help us find out more about your facility because we have a database of over 60,000 people just locally All of the cash CPO agents around the country. Any one of the derivatives like assisted living or like divorce or like a state or like relocation. All the same, they're highly trained in assisted living facilities and we're building our list of those facilities. You want to be on that list. These are all the top agents in the area and remember that most of us have 60 to 80% of people coming in from outside of the area. So they're asking for recommendations for assisted living. And then let's say, for example, somebody's coming to the mountains because this is where they grew up. They've got friends here. Maybe they've got friends in assisted living here, but they're selling the house in New York or they're selling the house in the Florida. We have people that are certified in this, that know what they're doing all over the country to be able to get your cash out quick so that you can put that cash down on your assisted living facility. They usually offer a much less expensive tract, if you like, that allows you to put that money down and it's much less expensive than their payment plan where you pay every month. There's lots of ways of funding the assisted living. But having the money out of your house fast and then letting us do whatever we need to do to make it compete with the other homes like yours in the market, and then getting another check, another fat check at the end and, like I say, two thirds of our sellers get more than with a traditional listing and it's way faster because you're unlocking the majority of your equity. And, let's face it, if you're a little bit older and thinking about assisted living, you probably don't want to fix anything. You probably, so you can use our funding partners money for that. You probably don't want showings, people traipsing in and out of your house. You have to be out. Maybe you've got a little dog. Whatever it is, it can be really, really helpful. So let's think about whether you've missed some payments. Oh my gosh, how did it get to 10.53 already? Really oh my gosh. So you're thinking about selling your house because you've missed a payment. You're probably embarrassed, you're probably sticking your head in the sand. You might have missed it by accident. You might have missed two or three payments. Get your equity out now so that you don't have to go through foreclosure. The sad thing is we work with lots of banks. We have bank CPO too, where we're working with the banks that have taken the property, whether it's in an estate or maybe they're foreclosing on you when you live there. It's really, really sad. So if you've missed some payments, go to foreclosurecpocom and let's unlock your equity so that you can go rent somewhere for a while or buy somewhere else that isn't as expensive. You might be really shocked at how much equity you've got in your home. And again, if you're facing foreclosure or you've missed some payments, you would think that cash is tight. So if cash is tight, you probably haven't been able to fix anything. So foreclosurecpocom, foreclosurecpocom, or just give us a call 828-333-4483. We can help you anywhere in the country with this. We can get you your full market value cash offer. This isn't cents on the dollar. It's not like all those other cash offers. Foreclosurescpocom. I mean now, it's not your property. Time is your most valuable asset at this point, so time is not necessarily on your side. When you've missed a payment, we will help you. You don't have to be embarrassed at all, even a little bit. We'll get the majority of the equity out. As long as that pays off the mortgage, you're just fine, and hopefully you've got some more equity in there as well. Just to find out how much your home's worth, why don't you go to get cash offer? Press on that button, get cash offer and you can get that at foreclosurescpocom or any of the other links I've given out today. We've got build a CPO so often. We're doing another one of these right now. So every time I find a scenario, I've written a book on this. It's now at the publishers. We'll have the first one in our hands, hopefully in two weeks. It's featuring lots of agents who are doing this around the country. If you're building a home, you might be thinking with last year's mentality of oh, I'm going to sell my current home in two days. With multiple offers in most places in the country, that ain't going to happen. Get your cash offer now. Build a CPOcom For builders. If you're a builder listening to this, go to buildacpocom. We want to know about you, who you are, whether you're building homes for people. You can send those people to buildacpocom. We can unlock the majority of the assets in the home within 12 days. That can be enough to put down the second or third drawer so they can actually move into their new house. Why not get that cash offer in your back pocket? so you can move quickly, take the pressure off. Take the pressure off exactly, and two thirds of our sellers get more than with the traditional listing. And when you're moving, it's probably the last thing you want People traipsing in and out of your house. The bank CPO is like the foreclosure CPO, that is, for banks who have these foreclosure properties that they're selling. We can make a lot more money for the banks because we go in and we repair everything that's necessary. I see all these price drops. I saw one today at $50,000, a price drop at $50,000 because the house needs work. I'm sure someone at some point did the inspection. You don't have to have a disclosure on those or give anything out. It's very strange. So then we? Well, it's not strange, it's just the law. They don't have to do anything. So this way we can go in and make a lot more for you as the bank. So that's bankCPOcom. We also will wrap it up today with because we've only got two minutes left. How does that happen? Oh, my gosh, agent and coach CPO. So we're working agents. Go see whether your zip code is available. That's the thing. Coaches, coaches, coaches out there who are coaching agents, find out whether their zip codes are available. We keep this exclusive. Why? Because we want to make sure that people are certified and know how to run these programs and know how to work with somebody that's facing foreclosure or FISBO, or a lot of agents who just got in in the last year, which is a large percentage of the population, don't know how to do this. So these are all experts. That's why we keep it exclusive. It only costs them 25 bucks a month. It's very lightweight to get in. It's not a big commitment, but we do that so that we can offer the training and get them. We have regular live training. You can go to agentsCPOcom to see all of this. We do regular live training to present offers, obviously to their clients. It's great to get listings because so many sellers now don't want to go through all the hassle. There's a private Facebook group. There's rights to use the various CPO derivatives, there's a huge library of on-demand training as well as doing it live, and there's a template for the listing presentation, because what we do majority of us offer the cash offer as part of our listing presentation. So here's your cash offer, here's all the other amazing things we do. So I talk about the radio show, this one that I've had for 12 years. I talk about the bestselling book on selling homes and hopefully we're about to have another bestselling book, but who knows? We'll see how many people buy it. It's going to be cash CPO with all these derivatives in it. Thank you so much for listening today, guys, rowena Patten, realestatenewsradiocom for all the links. We'll see you on the radio next week.

Real Estate Show With Rowena
Short-Term Rentals and Business Opportunities
Retirement and Downsizing
Divorcing Couples and Property Division
Benefits of Assisted Living and Cash