Real Estate News Radio with Rowena Patton
www.RealEstateNewsRadio.com
Ready to navigate the complexities of real estate with ease and confidence? Tune into our podcast, hosted by Rowena Patton, the acclaimed author of "Find Your Unique Value Proposition" and the insightful "CashCPO." Rowena, a seasoned expert with a history on the live radio show since 2011 'Real Estate News Radio', brings clarity and simplicity to the often overwhelming world of real estate.
It should say with Rowena Patton and Friends, as she is joined by guests from around the country each week.
Whether you're buying, selling, or assisting others in the process, our show is designed to remove the stress and inject enjoyment into your real estate journey. Understand that there's no universal solution in real estate, and Rowena, along with her knowledgeable guests, offers a variety of strategies to help you smoothly navigate what can seem like a labyrinth.
Stay updated on the latest in real estate innovation, particularly the ever-evolving technology, and learn how to leverage these changes to your advantage. Our podcast breaks down real estate concepts into plain English, making it accessible and fun for everyone. We're eager to address your questions and guide you through the real estate process, so please share your queries with us here: www.RealEstateNewsRadio.com
Join us for a podcast that transforms the complex world of real estate into an understandable and enjoyable journey. Subscribe now and become a savvy real estate consumer!
www.RealEstateNewsRadio.com
Real Estate News Radio with Rowena Patton
Exploring the Cash CPO Program: A Revolutionary Approach to Selling Your Home
When it comes to selling your home, wouldn't it be a dream come true to receive a full market cash offer, without the fuss of showings and other complications? Introducing our guest for today, Drew Nicholls from California, who enlightens us on the Cash CPO program, a boon for homeowners who wish to sell their property swiftly and effortlessly. Perfect for situations involving relocation, retirement, or even divorce, this program offers a comprehensive appraisal and inspection of your property, arming sellers with all they need to know about their home's value and potential defects before going to market.
We zoom into the Californian real estate landscape, where Nichols takes us on a journey through the benefits of the Cash CPO program. Amid a market plagued by a lack of inventory and fussy buyers, Nichols sheds light on the ways in which Cache CPO is transforming the scene. The program offers a unique solution, enabling buyers to purchase homes at their full market value, with up to a 70% advance. Cash CPO even takes care of the fronting money for remodeling, empowering sellers to spruce up their abodes and place them back on the market at their prime, reaping all the profits from the resell.
As we converse with Nichols, the significance of viewing the larger economic cycle emerges, and how prices are beginning to slide as we inch closer to the trough. Adding a philanthropic angle to this innovative real estate solution, Nicholls also reveals how the Cash CPO program can be used to pledge proceeds from the sale to various charities. We also delve into the weather and real estate climate in Asheville, North Carolina, and I share some personal messages with you, dear listeners. Be sure to join us to learn more about these riveting real estate trends and programs!
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:Alright, good morning. You've got Patrick Fransen here with Rowena All Stars here in Asheville, north Carolina. You know we're brokered by EXP here in Asheville, north Carolina. I want to welcome everybody. We're going to have an exciting show today. We've got a guest. He's calling in and has called in from California, so I'm super excited about having Drew Nichols, who's also with EXP in California. We'll start hearing a little bit about what their market's doing and, of course, we'll cover some of that cash CPO program. I know you guys are anxious to hear about that and so, yes, good morning. Good morning, we've got a Saturday morning here in Asheville. We've got all kinds of exciting stuff. It's clearing up a little bit. I got some blue skies in the background and we have our parade today.
Speaker 3:Randy clearing up just in time for a parade a Christmas parade, a holiday parade Good morning, Randy.
Speaker 2:Good morning, hey.
Speaker 3:it's good to talk with you, Patrick Good to be back with you.
Speaker 2:It's an exciting day today.
Speaker 3:Yeah, the annual holiday parade starts at 11 o'clock this morning. Look for the I Heart Crew there There'll be. There's no telling what they'll be riding, but they'll be there because we've seen them around here this morning in the studios packing up the coffee jugs and, you know, gonna ride in a parade. So they're watch for the I Heart Crew today in the parade.
Speaker 2:Yeah, man, I was yesterday. I was seeing a lot of folks prepare. I happened to stop by the mall and Dillard's was getting their their float all ready to go and they were all excited man. You know, it was just smiles everywhere. It does. You know, randy.
Speaker 2:It just brings a good feeling when you go to the parade and you see all these kids and older folks and just the whole community together and you run into somebody that you forgot, that you loved and, and so now you can reconnect with your, your neighbors. We've hopefully going to get through what the C, o, v, I, d thing is all in, and so the community. I've heard that all the merchants are sort of getting involved with it this year too and sort of opening up and doing it earlier in the day and and I think it's going to be great for Asheville.
Speaker 2:You know, we we enjoy our downtown and we share it with a lot of people, but this gives the locals the opportunity to come down and and get together and get involved. But yeah, so the parade today, it's, it's I don't know it's going to be a fantastic hot chocolate event Probably. I would think that you would probably find some pretzels and some funnel cakes and some stomach aches and some stomach aches. But it's so good going down, you can't resist it. That's a country song.
Speaker 3:Funnel cakes and stomach aches, that's a country song. That's a country song.
Speaker 2:Yeah, if we can sing about Applebee's, you know we can. We can think about funnel cakes. We let's see over at the mall. There's still the, the little, there's a gosh. What am I trying to say? Barnum and Bailey.
Speaker 3:A fair, a musical bride? Yeah, there's some kind of trapeze artist, something another going on at the mall.
Speaker 2:That's finishing.
Speaker 3:Asheville Mall.
Speaker 2:Yeah, at the Asheville Mall. I see the tent still there and there's still, I don't remember the name of it, randy, I just assume you know everything.
Speaker 3:Oh, I don't remember either, but you know, you've seen one. You've seen one.
Speaker 2:I'm just excited that we're getting out and having community again. Yeah, absolutely, and you know so well. Listen, let's talk a little bit about Cash CPO this morning, folks, and and what it is. We can help you take advantage of a fantastic program. You know two out of three sellers get more than a traditional listing with this. It's, it's no showings, no hassles. We make a non contingent offer on your, your home there. So it's, it's a full market cash offer with cash CPO.
Speaker 2:So if you've got a home that might need a little bit of love here and there, you know you can take advantage of this cash CPO program. It involves all kinds of different ways of being able to help you. So if you've got, you know different kind of options would be. If you're a four sell by owner, you can work with this cash program. If you're relocating, if you're retiring, if it's an estate you've lost your folks, maybe you're going through a divorce you know we've got one right now. That's working beautifully for a divorce couple and the communication's been really good. Our team has been fantastic with both of them and it's working out in their favor. They just relieve a lot of pressure off of off of themselves. So it's, it's bringing smiles to some folks. I bet they're going to that parade today.
Speaker 2:So cash CPO you know folks, for the folks that don't know what cash CPO is is, we bring you a full market offer on your home and and so you can take advantage. We come out, we'll do the CPO as a certified pre-owned. So we get an appraisal, we get the inspections done for you, we find out what's going on with the home and you know they'll pay for the, the inspections and the appraisals and find out what your home value is worth. And then when you come to market you're fully educated. With a, a shined up home, you know what it's worth and you know of any defects in the home, whether or not you fixed them or not. You know about them and you can disclose those. Makes it a lot easier not to lose the home. You know in in real estate about a third of the transactions out there fall out. So you know you want to do everything you can to prepare your home to get sold and get to the closing table.
Speaker 2:Well, with cash CPO program, you know it's a full market value offer. You don't have to worry about showing the homes, you don't have to worry about getting getting the dogs out and getting out of the home and showing, which is a huge hassle, especially if you maybe you own a home and you're you're, you have renters in it. We're working with the renters to get them in and out and, man, that's a. That's something that really this program is fantastic. With you don't have to worry about moving your renters out of there to get you know showings on the on the home. So cash CPO is a fantastic opportunity for anybody. Even if you've got a beautiful home ready to go doesn't need any repair, cash CPO may work for you.
Speaker 2:Maybe you've moved, maybe you're going to move, maybe you've already made an offer on a home and you need to get that home sold. Well, cash CPO will work for you in a fantastic way of being able to move you along, get you into the other home, and then you get to reap the the windfall, the waterfall effect of of cash CPO. So, without further ado though, Randy I'd I'd like to invite Drew Nichols. He's from California and he's a EXP realtor there. Drew, welcome to cash CPOcom, our radio news channel here in Asheville, North Carolina. Of course, we broadcast all over, Drew, how you doing today.
Speaker 4:I'm doing great. I'm doing great Nice to be on with you and be a part of the show here. Looking forward to getting into some interesting topics.
Speaker 2:Yeah, so it's kind of early there for you. It's nice and sunny, the weather feeling good and Cali.
Speaker 4:You know it's changing out here. The leaves are falling, it's pouring rain all night and, yeah, you guys got me out of bed a little earlier on Saturday, but I'm usually a pretty early riser anyway.
Speaker 2:So well, good, well, good. Well, how? How's your experience there as as an agent? How's it been this year for you? Has it been really active? Are you finding the? What's your market doing there? Is it going up, going down sideways? Give us a little feel of what California is doing.
Speaker 4:Yeah, of course it's definitely been experiencing some changes. Covid situation for us exploded. Our market.
Speaker 4:We are just north of the Bay Area in Sonoma County, mendocino County, wine country up there and you just needed to have a pulse to sell a house over the last two years and a license, of course. But since then things have changed a lot, and part of the issue we're dealing with on both sides is, yes, there's less transactions. We're down about a third year to date over where we were volume wise last year. The other part of that is we're just there's still a major lack of inventory. There's no homes to buy either from the perspective of people aren't wanting to trade their 3.5, 4% interest rate for an 7.5, 8%, and so it's been this interesting situation where we're seeing transactions be down but supply and demand becoming a bit of a challenge and also buyers just being a lot more picky and reserved. So we've been dealing with some of those challenges and finding some creative solutions like Cache, cpo to help get us through on both sides of those challenges, for both buyers and sellers.
Speaker 2:Yeah, man, you know it, and that's what a great tool to have for your buyers and your sellers. You know to be able to. When you say buyers, you're providing buyer with a better home, because oftentimes we're coming in with the Cache CPO program and putting a little bit into the home. Well, you know, maybe it needs a new HVAC, maybe it needs a new roof. You know, right now we've got one that we're putting a new septic system in. It was just rotted away, you know, and it happens the home's 50 years old and so we here in our market we've got, you know, we've got a good amount of septic systems.
Speaker 2:So you run into that we don't have a whole lot of access to public sewer Because of our terrain being what it is. It's a. The infrastructure is growing but it's not easy to put pipes in the mountain. But, that being said, you know, going in and repairing these homes the CPO program I'm providing a better home instead of a war out home and, quite honestly, what I found is the interest rate being so high and the price being so high in our market because of demand, a lot of people coming here, wanting to come here, and so it's it's hard to get in there and fix a home up after you've bought it, because of your strap Especially for a first-hand buyer.
Speaker 4:I think the other part of that that that we're seeing out here with it, you know, prices tightening up and buyers being a lot more conservative is is buyers just lack imagination. You know us as agents. We can go in and say, hey, well, if you paint it and you do, you know, put some new countertops on here, you'll have a whole new house. But with a buyer they don't see that. You know they may turn down wanting to write an offer because they don't like the color of one of the rooms.
Speaker 4:And so what we're finding to really help, you know, sellers kind of overcome, that is, the houses that are turnkey and are looking good. Those are the ones that are still generating, you know, full price or over, you know multiple offers, but the ones that that need that work. But you said where they're going to buyers feeling like they're going to have to come and spend more money on the house once they buy it. That's really presenting some challenges for for some of our sellers, and so we've really been able to utilize cash CPO to not only help them get their home sold quickly but also to help them maximize the value of their home and, like you had said in the beginning, there's even getting them more money than they would have if we would have just put it on the market without improving the home and dealing with that issue of buyers just having that lack of imagination and or not having any of their own budget to fix it up once once they close on the sale.
Speaker 2:Yeah. So let's cover a little bit about that. You know, with the cash CPO team you purchase the home at full market value and then you get the client the seller is getting up to an advance of up to 70%. We call that basically stage one, closing, and then cash CPO comes in and they front the money, the fresh in the home, up to remodel it.
Speaker 2:Do the little things you know on this home that I just did. We painted the whole inside white and it just was beautiful. We came from turquoise and orange and yellow and reds and dark blues to a fresh home. Man, it's got wood trim. It just really pulled it out. So it took a kitchen that was sort of mixed in a mash of stuff and it just really made it explode. Because then the cabinets I didn't even realize how pretty they were, but with the white walls, man, it really made it. So you know, now we've got a fresh and up home, we go back to market with it, the seller.
Speaker 2:At this point in time they get all the profits on the resell. There is about a five to 10% program fee, just depending on how long it takes to sell, necessarily. But that's why we freshen it up to give it a chance to go to market and we know what it's worth. We've gotten a praisel. Now we can add to it and, in our mind, figure out what it is. Okay, we did these improvements to the home.
Speaker 2:Sometimes improvements just help it sell, but then sometimes improvements add value. So even with the CPO program, if you've got an unfinished basement and we've got a little bit of time, hey, listen, let's go finish that basement out, let's make this thing pop. If we can add $100,000 of value to the home, hey, why don't we do it? Some situations folks don't have to get out of the home real quick, so then we can go ahead and organize getting those fixes done and even pay them at the closing the first initial closing, which in the cash CPO program. That's where it lends the seller the ability to clean up their home and have a chance to make a profit. I don't know, man, it's been great for my folks that I'm helping with. Now Maybe it's not for everybody, or, however, I'm finding that I'm offering it to every listing I go out to. What about you, joe? What are you finding?
Speaker 4:Yeah, I've been doing the same and really using it as a creative solution for some folks that are, you know, in some different positions and and you know real estate isn't everybody all the same but you find everybody has a different situation. So some of the great benefits also is you know, once you get that 70, you know percent of value in the home is being fixed up, cash CPO is helping their, their covering the carrying costs, you know, between that point and when it goes back on the market and sells and that's really helped a lot of my, my clients. Another thing that's been a huge value is you know if people are needing to sell their home and go in and buy another home. I have a lot of you know folks that are at the point where they're looking you know their house is too big and they want to, you know, move into something a little bit smaller and more manageable. And you know, as they're running out there, they're not having to write contingent offers that are as long or have as many question marks on them.
Speaker 4:You know we're able to get these cash CPO offers on the table immediately, get them into escrow and then we're able to get them to go out and be able to write offers on those other homes that may be a you know a little bit smaller price tag than the ones they were selling, but that's what they're looking for because you know life can sometimes contract as you as you get older, and sometimes getting them from A to B possesses some challenges and can create some anxiety for the customer, and so this has been a really great tool to help kind of alleviate some of that pressure for them and again helps us stand out in our market is just being creative and finding ways to move the needle for people that really need help.
Speaker 2:CPO has brought opportunity for a lot of folks too, and I'll explain it to you like this through what I've just run into recently is I had a lady that was moving from Florida.
Speaker 1:Okay.
Speaker 2:Have you got your home up for sale? No, but I really want to move on up there. I'm ready to go. So I'm going to get my realtor and we're going to, we're going to get this house sold. I said, okay, well, that sounds great. Tell you what. Would you like to receive a cash offer for that home? Now, of course, I can't present it, but I've got an agent there that that can, and do you know?
Speaker 2:So we went, we, we got it created, we presented an offer to her, came up here. We put an offer on a home that she wanted up here, that I'd been shopping with her for, and it gave her the opportunity to have the money to be able to come up here and buy. She didn't own any money on that home, so she took the 70%. She carried it up here. She's in the midst of selling the home right now. It's just going to market. It really didn't need any shining. In fact, she had been hit by Hurricane Ian and just got her own, one of the few that have already been repaired and finished, and so she's going to market with a shiny place and there's not really any other other product out there. So I'm anxious to hear her say she's gotten this old and taking advantage of that, that windfall, that waterfall which is getting the profits on the resell, which are, you know, if you look at any other type of investment program, most of the time they're 50% and then you got to pay for those repairs out of your 50% that they paid you. So it's, those programs can be often difficult and that's one of the things that Rowena Sol in this program and shared now that has created, and she was, she's the founder of CPO experts comm, and so with that, you know, she's created an opportunity for our whole team To reach out all over the United States. And it's incredible because we've got teams in every state that offer this CPO program. So if you're listening and you're out in Texas, reach out to our CPO experts comm, the cash CPO program, and We'll find an agent right there. On that website you can click on find an agent. It will take you to a map of the United States. You click on the state, it delves in even closer. So it's, it's becoming an incredible program and you know, drew, what I've been able to do is come in and I'm going to listings with an offer in the pocket and, yeah, that's just that's pretty incredible for me to be able to offer offer folks right off the bat.
Speaker 2:Hey, here's a solution. You're in a pickle and you know it's. It's a way to get people to go ahead and come out with that information, because there's nothing worse than finding out that they're two months behind on payments and that they go into proceedings for foreclosure in another 20 days. Well, you know, at that point in time it's kind of hard for the agent to help you get the house sold. Traditionally, you know your traditional sale. You need to get to market. You get somebody. You know it takes a couple days to get the offer right if it's perfect, and most of the time if you hadn't made your payment in two months, the house hadn't really been given any love in a while because you've been in a pickle, great. So you know you're sort of running into a homeless war out and you need to sell it in 20 days.
Speaker 2:Well, guess what? We got cash CPO and if you're not upside down on your mortgage, most of the times we can, we can take that program and use it to your benefit and in fact we've just helped some folks and it's it makes you feel good that you help somebody save their credit number one, not ruin themselves with a, with a foreclosure, and Then they have an opportunity to make some money on it and it's just. You know it feels good as an agent. You know we get thrown under bus a little bit here and there, but we're also busy trying to do so many things, and this cash CPO is certainly made me busy. Drew, I don't know about you. What's going on as far as which program are you Focusing on? Are you doing more of the four sell by owners? Are you going for expired listings? Are you dealing with divorce CPO or retirement CPO? You know we've got the new builder CPO com program too.
Speaker 4:Yeah, as of now, we've really been helping a lot of the fizz bows expired and in general, you know listings that were going on where the program just makes a lot of sense. You know, I had a lady who who had inherited a house and you know she lived two and a half hours away and the house happened to be in our house we worked on and so you know she had tried it as a four sale by owner was thinking about listing it. You know, I went by and looked at it and and it was just such a perfect match for this, for cash CPO and the opportunity, in that, you know, the house just needed a little paint, some countertops and a little bit of love in order to really not only just be more sellable but have a little bit of love, in order to really not only just be more sellable but have some value Added. And this lady is trying to figure out where she's going to get the money, how she's going to get here from out of town To make it work, and it was just logistically a nightmare for her and that was right. You know one of my first deals that I started doing with cash CPO, where it was Well, hey, here's a solution for you where you can get your money right now because it turned out she had already, out of her pocket, paid some of the other errors, the money, and then she was going to reclaim that money when she sold the house and we're dealing with a market that hasn't had any major, you know, down turn as far as price goes, but we're definitely Cheatering on an edge here.
Speaker 4:From the regards of, you know, time is of the essence.
Speaker 4:The longer that asset Sits empty with nobody taking care of it, in a market where we're seeing interest rates go up and things change, you're, you're more and more at risk. She was more at risk every single day from the situation she was in, and so when we brought her the offer, you know not only did that help Make her flesh with what she had already been for out of pocket, but it alleviates the problem of her now having to, you know, basically move to the area for a short period of time and try to find people to do work in an area that she's not familiar with. You know, the program helped to handle all that for her and that Actually turned out to be a really good situation and, like you just said, it's nice to help people, it's nice to be able to think outside of the box with programs like this that you know some other agents don't even know exist and have access to, in order to just help good people make good things happen for themselves and, you know, provide a nice home for a future buyer as well. Yeah, man, you know. Yeah, you're exactly right.
Speaker 2:You just said it, this is not your average. You know traditional Listing it's not your traditional transaction, but it is something that can help you and help the community, like I touched on before. You know, you and I, as listing agents, are bringing a home that's shined up a little bit better. It's going to last your new buyer A lot longer more, more time of a life for a home, with a new roof if it needed one, or a new hvac or Maybe add foundation problems. You know we're here in the mountains, we got a lot of moving parts here and homes, homes tend to slide down the hill a little bit after about 50 years.
Speaker 2:So we have structural stuff. I've become very I've become a structural expert, although I'm not a structural engineer. I can see that a big giant crack going through the foundation or up the foundation wall Might be an issue. But you know so. You know, fixing those kind of things coming back to To the market with a shined up home Is not the traditional way of necessarily doing it. And and you said it, you know, coming through covid it was pretty easy. You could just pretty much lay there and have a deal right. So it it's funny. But now you're having to sort of understand the market and you're having to understand having empathy for folks and understand where they're coming from and delving into it. And that's one of the things that cash cpo has helped me Understand and and sort of come back in to what a normal market you know we're. We're Getting closer to to where you've got a little bit of a ability to negotiate. You know homes are staying on the market a little bit longer. Here my folks are actually having opportunities To be able to buy. You know we're not going through the five contracts and missing out on homes and and you know, losing out to highest and best, just never know what the highest and best offer is. But so it's getting getting to be a little bit, a little bit more normal. You know, clemente, hugh Glar Came up with the economic cycle Back in 1860 and about every 10 years we go through dips, highs and dips.
Speaker 2:So you can see that chart there on cpo expertscom and what it shows is that we're going sort of out of the peak. You know, 20, 21, 2022, we were at a peak with the rates being at three To five, and so then at the beginning of this year, when the rates started going, you know, we started seeing it taper off. We're coming off of the peak and we're heading towards the trough and it's going to be a couple years. You know we're going into an election year. Things are sliding a little bit. Prices are sliding Because sellers are realizing, hey, I need to drop the price a little bit before they even come to market, so I'm not coming.
Speaker 2:I don't see folks coming to market with that high price and actually getting it. They're. They're considering okay, we're gonna take a little lower price because we know the market's coming down. We can feel it. The the internet is telling me, the newspapers are telling me, the radio is telling me so I better listen. So I've got some folks there, you know, realizing that not going to get that big crazy price right now Because people are paying the interest rate and the cost of money is gone up and so you know, the sellers are coming off of it a little bit and they're realizing that, hey, higher interest rates, higher payments, people can't afford that.
Speaker 2:500. Somebody that was 500 in February is now 400 and November. So you know, as far as their payment, if they're a payment person, which is 95% of the folks out there, they're a payment person, so they're wanting to pay attention to what they're paying a month to live. And that has creeped up. A lot drew here and in Western North Carolina and I'm sure there in California, in the Bay Area, sonoma County it's it's gone up as well.
Speaker 1:Everybody out there in this land we're.
Speaker 2:We're talking with Drew Nichols here. He's. He's from the California market, he's with exp and he's taken a really good opportunity here with cash, cpo and and he's created success. And he's on the radio here with us today to sort of help share what nationwide is sort of going on. So we're on the other coast, the left coast, and Figuring out what what's going on with their market. Drew. Thank you for getting on the radio with us. Tell us a little bit more.
Speaker 4:Yeah, absolutely. Thanks for having me. So, yeah, I have a real estate team that I run here in Sonoma County, in Mendocino County, just at the far end of the North Bay Area, and, like you said, our, our cost of living out here is is Definitely Going up. You know, the grocery bills, the gas pumps all of those are are definitely something that everybody's feeling and that isn't impacting people. And so you know, a lot of what we're looking to do and do on a daily basis is we just we're just helping, you know, not just sell homes homes are selling themselves but we're consultants and we're helping consult people about what their options are to help them sell their home and so maximize that value. And so you know, if you're interested in learning more, you can go to soldbydrewcom sold by Drew nickel and learn more. But for us it's really about Serving people in a way that's helping get their home sold quicker and faster and for more money. Then what some other agents are able to do out there, because they're not connected and don't understand these programs that we're talking about today, like cash CPO or divorce CPO and these different solutions that are out there. It's, it's required now in this type of market that the agent you choose to work with knows that these programs exist, knows if they're right for you and then knows how to utilize them for you to take advantage, you know, in the way that's possible based on your current market conditions. And so that's a lot about what we've been doing out here and shifting business, because you know we're still running a business and advising agents you know the way we were six months ago would be doing them a great disservice.
Speaker 4:You're right on the money, in regards that Purchasing power has gone down. You know people's People's ability to offer more has gone down because that has been sucked up by the higher interest rate, and so people are not only in a position where they can't offer as much, but they're also just becoming a little bit more selective. So you know the houses that are fetching the premiums in our area, the top dollars, the over askings, those are turnkey. Yeah, those are where you know the buyers are going. Okay, we can move in here in, the drop our suitcases and unpack our boxes, and where we're living, you know I don't have to paint and put you know, five, six thousand dollars into carpet and and you know all of those things and so those positioning our homes, our sellers homes, to be that property in this market and utilizing cash CPO as a way to Do that has been extremely powerful and it's it's how we're helping people still really get Top dollar for their home in our marketplace.
Speaker 2:Yeah, buyers and buyers agents prefer a home that is turnkey. You know if it needs painting or deep clean or a new roof. You know I as a buyers agent, my buyer doesn't have time to deal with that, you know she's. She's not one of a mess with that. I've got someone right now she's a single. Well, she works at bill more here and she works 50 hours a week. She can't go and take care of putting a roof on that and make sure it's done right and probably doesn't really understand it a whole lot either. So that scares her. She doesn't want to run to a house that needs repair. And that's one of the nice things about this cash offer that we bring you. You know, compared to other Investor programs that are out there and other groups, you know you get, maybe you get a 65% offer and that's, that's just in. You're in an area that's really exploding or something. But you know then you have to pay for your own repairs out of that money and with cash CPO, Of course you don't go through any of that. Let them take care of the headaches. They have a project manager that holds your hands. Let's you decide on what you want to repair, what you want to budget, go out and help you find those repairmen, and we're all looking for the best price. We actually have created so many relationships with our cash CPO program. I've got incredible Folks that are helping me right now and I've just been impressed with the pricing I've been getting has been really good too. So, um, you know I'm I'm finding that the, as the market is shifting, you know my worker guys aren't as busy as they were. You know it's. It's kind of nice because I'm able to get something done fairly quickly right now. Now, of course, we've got relationships to where we're feeding these folks all the time, so maybe we do get a little bit of preferential treatment on timing, because they know as, as real tours, we're trying to get that house back on the market and we're kind of under the gun a little bit to not sit on our hands, and so we're we're active, we're pushing to get that house to market and so with the, the cash CPO program, it's been really great. You don't have to come out of your pocket for these repairs until after what I'll call the. You know, there's the initial closing and that's kind of staying there until you get the cash CPO and that's kind of stage, one of your, of your closing transactions. But then on the second transaction is when you would pay for those repairs out of the cell of the home. So it's, it's a great program.
Speaker 2:You know I've often had other investors say, man, that's, I don't know about this program, this is kind of risky. Well, our buyer is doing this 3000, 4000 homes this year and uh, you know that's pretty powerful when you're able to do that amount of transactions. So you know they're not trying to make a big windfall, they're certainly not trying to hold on to your home either. They don't want the home. They've never kept a home. They've sold every home that they've ever worked with in the cash CPO program. So you know it's a, it's an opportunity to where they use their program fees to make their engine turn and they know what they're going to pull out of it. It's not a get quick, get rich quick scheme on one house. They do a lot of homes. So I don't know, man, I'm so fantastically thrilled to be able to offer this to my people and I feel really good about it. I've worked with the teams, with the CPO experts Everyone holds your hand. I've gotten answers in every turn. So it's, it's been really phenomenal for me.
Speaker 2:Well, rowena has really put a fantastic program together with CPO experts and it's just spreading like wildfire. And it's because people realize that Getting a full market cash offer and being able to close in 12 days is a necessity for some folks right now. And then you have opportunity to make money on your home. To make money on your home when before you didn't. So it's, it's a way you know I've, you know what's happened to me recently, as I've had some folks say well, listen, we don't, we don't care about the back end, we just want money and we want to go.
Speaker 2:Okay, well, let's talk about that money, because there's money on the backside, um, cash, cpo and wanting to keep that money. So you can donate that money, and we've just now. You know there's a program called tunnel to towers and uh, so now you can. You can give it to the veterans. They'll use that money to buy a home. You can Donate it to whoever you would like, those profits that come with that windfall. So, drew, what else are you finding in your market? The folks that you're helping with the CPO program?
Speaker 4:Well, I think the other part of it that's been helpful is for us as people who have tried to sell their home and weren't successful. We refer to those as expired listings, but really those are just, in my opinion, people that either didn't get good advice or didn't take good advice, because every home will sell. It's just a matter of finding the right path for the right home and where the buyers are and having the market match that. As we go in our meeting with some people who had tried to sell their home, they're a little bit frustrated. They don't know why it didn't sell. Like I said a lot of times, we're noticing that there's specific issues with the home that aren't necessarily big issues, but maybe that they're not aware of or they don't have the ability to address themselves. That's preventing them from being able to move on, get the home sold and get on to that next chapter in their life. Again, they don't even know that a program like this exists that helped them solve their problems. Their previous agent might not have even been aware that that's the case when we come in and really meet with people and not just try to be flashy and fancy, but really get in there and have a conversation with them about what their needs are, why they want to sell, what their life is like. If they have to stay in the home for a longer period of time and really dig in deep about what's going on, we're finding that we're able to create solutions for them to be able to move on.
Speaker 4:That's been incredibly beneficial to a lot of people who even tried to sell their home at a time when the market was better and couldn't get it done and feel like they missed out on an opportunity there and had some frustrations with their previous agent or just didn't understand why their home wasn't selling. And we've been able to utilize cash CPO with those types of sellers to really get in and provide some clarity on what's going on, why their home hasn't sold and how we can help fix those issues to get the property sold and let them know they're going to get an offer at a full appraised value, the full market value of their home. They're going to be receiving an offer on that and that provides them with a lot of insight and clarity on their specific situation. And so, again, it's thinking outside the box and providing opportunity in a way that other agents and people in the market just didn't understand was possible and available, and shining that light on the possibilities and the programs that are out there for people.
Speaker 4:It's just something that's really. It's really helped and it's really helped us stand out in our marketplace. Like you said, when we show up with an offer for full market value on day one, they already know that they're maybe talking to somebody who's a little different, thinking a little different, and maybe actually have some solutions to help them get from where they are to where they want to be. And that's what's what I enjoy doing every day.
Speaker 2:That's right. So how it works, folks out there and in Radio Land is you would receive a cash offer on your home for up to 74, 70% of the market value, and that would be within 12 days. You'd get a full market value cash offer within 24 hours. So all we need to do is just come out to your home, we'll take a peek at it. We'll get that offer to you within 24 hours. The next step would be to you know, cash CPO or cash CPO team would work with vendors and make the necessary updates to your home, from new paint, new roof, landscaping, everything, whatever in between it. We would improve the home and then we you and I, as listing agents we'd get to work on listing your home and then receive a top dollar offer. Once we receive that offer and once your home sells, you get to keep the upside, which is, you know, two thirds of the sellers make more than they would on a traditional home sell. And because on the traditional home sale you got to minus out all those repairs and, you know, on a traditional home sale you probably didn't do an inspection, you probably didn't do an appraisal, so you're coming into a situation where you're making a lot less in that traditional home sale than than if you would have fixed it up with this cash CPO program. Bring it to market with a decent home that's signed up and right now you're able to let cash CPO take care of the headaches repair take care of the headaches and negotiation. Take care of the the showing headaches. You know moving all your stuff out. You know you avoid the pro, the traditional home sales process. With cash CPO you don't have any showings. You're not living through a home prep mom mopping the floors, vacuuming, getting ready. This is especially valuable and if you have pets and family and everybody's having to clear out and you got to put the dogs in the car and anyway, with cash CPO you get to move on.
Speaker 2:Right now you get to make offers on other homes. You don't have to have a contingency of your home needs to sell and non contingent offers often are much more desirable for a seller Right now. You know they're probably looking at it a little bit but it's not something they want to do. So you know you unlock your funds, you unlock your equity in the first transaction and you can do that in as little as 12 days. You've got your money in your pocket and then after we relist the home, you know you get paid out within three days of that home closing the windfall, any of the profits that, after we minus the repairs, the program fee, which is often five to you know nine, 10% is typical what we have found. It'd be 5% if we sold the home when it went to market. If it sits on the market for maybe two, three months, then it'd be closer towards the eight, eight percent on their program fee, which is simply a carrying fee.
Speaker 2:So I've not found a better program when it really relieves a lot of folks, where you can make more than the traditional way of selling a home and you don't have to worry about the showings, you don't have to worry about getting the house ready. Let this CPO expert team get you taken care of and we'll bring you a full market cash value Based on your appraisal, which they have done within a couple of days. They get an inspection done within a couple of days so that they know what's going on with the home. These are repairs that we need to have taken care of. We're being upfront and honest about the home. This is what we know. Let's matter with the home and it's a lot easier to sell a home when there's not any mystery as as drew. You know that right.
Speaker 4:That's correct. We want to solve these mysteries before we go to market.
Speaker 2:Yeah, and that's what we do we, you and I we we delve in there and we find these mysteries, we find the problems and and help you go to market. And as a buyer or a buyer's agent which I am also it sure is nice when I've got an upfront, honest agent over there that feels good about their product and they're sharing every little thing about it. You know that that brings a lot of comfort for me because, well, I've got somebody that I got, that I've got here and I care about them and I want them to have the best home they possibly can and I don't want to put them into a situation where it needs a new Roofer, new HVAC. They want to turnkey. Turnkey is the key. So that's what this cash CPO program provides. That's what I've found anyway, and it's it's it's helping people and I'm a big proponent of it.
Speaker 2:And I know why Rowena reached out and and created this program. You know she's the founding person for this and and is Really put together a awesome program. So I'm so proud of her working overtime all the time Putting this program together. I don't know how she does it, but I'm thankful to be working with her because she sure makes it fun for me. Yeah, she's amazing, I don't know. You get to sit with her every once in a while. You get to see all the videos and everything that she's provided to to understand this full cab, this full market value Cash offer that we have, and to be able to let our buyers and our sellers know you know precisely, with confidence of what the program provides, and we cover all of them from bankruptcies, save you from a foreclosure, divorce, foresell by owners.
Speaker 2:If you're going into a relocation situation, you need your money to go find a house in Asheville, north Carolina. If you're coming here, give me a call, I'll communicate with you. Wherever you're at, we can get you a cash CPO offer on your home, and that's what's so tremendous about this. It's offered in every state of the United States and it's a true, truly great program, and I'm so thrilled to be part of cash CPO experts. You know we're certified pre-owned Home experts, so we've gone through all this training that's there to really help you the, the buyer and the seller get the best product out there. So if you're going to be selling your home, I understand how to get your home sold and that's why you want to come to our cash CPO program.
Speaker 2:Go to CPO experts comm. You can find that agent and you can find anyone in any state. And then if you're an agent out there and you want to learn about this program and how to take advantage of being a cash CPO, it's out there, it's available. You can go to the CPO experts comm as well. And drew. I want to thank you for getting on the phone so early over there in California and and sharing your expertise and your Experiences of what your market's doing there and then also working with us. Man trading leads back and forth and referring folks that are coming from California and and and going to Western North Carolina and vice versa, so it's been a thrill to to share this time with you this morning.
Speaker 4:All right, sir. Thank you for having me on. The pleasure has been all mine, Happy to get on with you guys anytime and, yeah, cash CPO has really Changed my business and helped changing the lives of a lot of the sellers and buyers that I'm working with, and, yeah, I want to express that gratitude. So thank you very much for having me.
Speaker 2:You got it drew. Thank you for coming on and and folks out there, we want to share with you CPO. So if you want to go to CPO experts, comm and check that out, it's a great way to get your home fresh and up, not use your funds. Be able to take advantage of this program and get your home sold. It's been a huge success. And they don't. They don't keep homes. They've sold every home They've ever been involved with. So it's a way to get your home sold. Know what the value is, know what the problems with the homes are, get them freshened up, cleaned up. Be in control of all the freshening and and cleaning up and and take advantage of this cash CPO program.
Speaker 2:For my listeners out there in the Asheville area, going out to the parade is getting ready to start in a couple of minutes. You guys it's it's gonna be a great day to get out there and see these local Families and in your friends there in downtown Asheville. So so go check out the parade and See all the exciting stuff going on there as well. And I want to thank everybody for listening to the real estate radio show here on on Fox Western North Carolina WNC. It's been phenomenal. Thank you for listening to our program, randy. You're always incredible. I really appreciate you. What do you think the weather is going to do today? It's not supposed to do anything, but get more pretty, right.
Speaker 3:You got it. It's gonna be a beautiful day. We are, let's see. We've got a high temperature of about 65 expected today and Again tomorrow. Maybe Tomorrow night, monday and the Tuesday, we get some much needed rain Around here. I always say on the radio we are in a Really drought situation. Forest fire danger is high. I understand through the Pigeon River Gorge down I-40, it's Virtual war zone. This morning all those wildfires burning I call it the black bear wildfire. So be careful, just don't do any kind of outdoor burning at all and keep your butts in the car. If you're a smoker, don't throw a cigarette butt out the window. Keep your butts in the car. You got that.
Speaker 2:Yeah, and folks, you know I've got a new listing out there. It's 218 potato branch. It's out in Lester. It's a three bedroom, three bath home. It's incredible. It's listed at 499 and we've gotten it sharpened up and it's looking Beautiful. So do take a look at that, get with your agent or, if you want to, you can, of course, call us over at all-star powerhouse. You can look online too at mountain home hunt calm and go to our listings and you'll find that home at 218 potato branch. And you know you can also go there to the mountain home hunt calm and you can find out what's my home worth and there's a value program there. You guys have a fantastic day. Call your friends and family, hug them, tell them you love them and have a wonderful, wonderful time.
Speaker 1:This has been the plain English real estate show with Rowena Patton. Visit Rowena and post your questions at radio Ashville comm or call her at 828 210 1648.
