October 28, 2023 • 54 mins
Get ready to embark on a journey with my special guest, Jason Bramlett, as we navigate the vibrant and unpredictable world of real estate. With his 25 years of rich understanding and hands-on experience in the North Carolina market, Jason is just the person to guide us through topics that range from interest rates, market shifts to the different types of buyers one may encounter. The insights shared will prove invaluable to those who are interested in understanding the landscape of North Carolina's real estate market.
In our conversation, we pay special attention to the Certified Pre-Owned (CPO) program and how it can be a game-changer for homeowners. Through Jason's expertise, we uncover the financial benefits of refinancing a home at lower interest rates and how this can lead to a positive cash flow. We also delve into the challenges that come with selling an older home, how having more choices in the market can transform the game, and the advantages that the CPO program brings to the table.
Join us as we continue to explore the many facets of the CPO program. We discuss how this innovative program offers a full cash, market value offer and how it has enabled two-thirds of the sellers to make more money than they would have with a traditional home sale. The discussions touch on other aspects like eliminating the need for repairs, renegotiations, showings, and dealing with listing agents. Furthermore, we also highlight the emotional aspects of homeownership, the joy of reconnecting with loved ones and the sense of relief that the CPO program can provide to homeowners. This episode is a must-listen for anyone curious about the real estate market and the North Carolina landscape.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:02):
Don't let real estate pass you by with old star
powerhouse.
This is the Plain English RealEstate Show with your host,
rowena Patton, a show thatfocuses on the real estate
market in terms you can easilyunderstand.
Call Rowena now.
(00:22):
The number is240-9962-1800-570-9962.
Now here's the English girl inthe mountains, the agent that I
would trust, rowena Patton.
Speaker 2 (00:34):
Good morning.
It's Patrick Frenzen Steppingin for my best friend, rowena
Patton.
Yeah, folks, thank you forlistening.
Today we're going to have anexciting show.
I've got a fantastic guest,jason Bramlett, on the show
today with us and I'm superfantastic excited about having
(01:00):
him in a discussion.
It's just quite interestingevery time.
You know, jason's been in NorthCarolina a very long time.
He's practiced real estate for25 years, you guys.
So there might be someexperience coming out of this
fella's mouth.
You know he's one of the fewthat's still around that can
even handle doing this 25 yearsand he's cooking.
(01:21):
I bet he's got another 25 inhim, but I'm very excited about
his conversation today.
You know we've got all kinds oftopics we can talk about in the
real estate world right now,from interest rates to what the
market's doing, who our buyersare, and Jason's over in Raleigh
(01:42):
, north Carolina.
My listeners are excited aboutthat because we kind of you know
, we know the Asheville marketpretty good.
We tell you a lot about what'sgoing on in Asheville, but it's
nice to hear what's cooking onthat part of the state and in
the middle part of the state.
So, without any further ado,I'd love to get Jason on here
(02:03):
and say a big hello.
Thank you, jason.
Speaker 3 (02:07):
Hey, good morning Patrick.
It's good to hear your voice onthis beautiful North Carolina
Saturday.
How about that?
You could bottle this up andsell it almost, I think.
Speaker 2 (02:19):
Oh man, it's just absolutely beautiful.
Our weather is just perfecthere in Asheville.
It was crisp this morning.
Right now we're about 56degrees and just lovely, and the
day's going to heat up toaround the 70s.
So I know everyone that's cometo visit here in Asheville is
just having a treat right now.
(02:40):
I know I've got some clientsthat have come in and they've
bought homes and this Ashevillearea is their second home market
, you know, and they're comingup and visiting and they're
loving the change of the foliagearound our area here in Western
North Carolina, and I'm sureyour leaves are looking good too
over there.
Speaker 3 (03:02):
Oh, yes, absolutely yes, it is.
We're a little, you know, acouple of weeks behind you guys,
I'm sure and you know, but it's, I don't know, october and even
, I guess, in November.
Now, as we cruise through, it'samazing how quick.
October is my favorite monthand I'm always disappointed how
(03:22):
quickly it does go.
That is for sure.
But none like the changing ofthe seasons, the changing of the
real estate market as they sayis quite.
I don't know if it's quite asbeautiful as the leaves and the
photography and all that that wehave in Asheville and
throughout our state, but it'sdefinitely changing, that is for
(03:43):
sure.
And you got to be ready becauselots of new things are hitting
the real estate market, that isfor sure.
Speaker 2 (03:49):
Yeah, it's a big topic for everybody and of
course you know we have our CPOprograms that you're part of and
I am part of a fantastic groupof agents that are training to
handle all the different typesof situations that can confront
(04:12):
our customers, clients, friendsand families and the people that
we're close to.
And it's very nice to geteducated on not only these cash
CPO programs but just how tohelp your folks and how to help
seniors and then how to helpseniors families and then how to
help divorce ease.
(04:33):
You know a lot of folks gothrough that.
I'm a participant, randy.
I think you've jumped in thatprogram once before, maybe, and
no comment.
No comment.
Okay, sorry, he knows it's overhere.
Speaker 3 (04:48):
Randy, we cannot use any wisdom on this show.
You've got to, you've got tosteal it.
Speaker 2 (04:54):
Oh man, well, you know, the wisdom comes with your
agent, and that's one of thethings with this top group of
folks at CPO is we're learningand we have learned, we've
learned not to do that again.
Speaker 1 (05:08):
Yeah, we've learned not to do it again.
Speaker 2 (05:10):
So it's.
But we've also learned how tohelp people with experience and
with empathy.
And you know I I know Jason'spretty much covered all of these
a lot and you're you're anexpert.
No, most any of those fieldsprior to the CPO program.
(05:31):
From what I realized andlistening to the past programs,
you've been doing this for 25years.
Speaker 3 (05:40):
Yeah, yeah, yeah, and it seems, it seems as though
that went very quickly.
It is some days I wake up andit's like there is absolutely no
way the man in the mirror I'mlooking at is me.
I just because I I don't feelthe age in which may be
(06:01):
reflecting back to me.
We'll put it that way.
Speaker 2 (06:03):
I guess what I'm getting at is is your experience
with cycles.
you know and, and you know themarket is always exciting and
and we've been very vibrant andwe're we're starting to see, you
know, a tell off or maybe astabilization, possibly,
hopefully, for folks.
(06:24):
But you know, I understand thatyou know about the cycles, so
can you share with us, overthose 25 years, the cycles?
I mean?
I know about them.
I've been in a real state sinceoh six and you know, I know the
ups and downs and and I wouldlike to help our folks
(06:46):
understand and how to cover whenthose cycles are up and down.
You know, clement Houglaur cameup with the economic cycle back
in 1860.
And so those up and downs withour markets are are very common.
This one's been a strange one,this last one, but share with us
a little bit what your thoughtsare for the future.
Speaker 3 (07:10):
Yeah, for sure.
I mean it's, you know, withthese cycles that come through.
I mean, the weirdest thingabout the last one we have is is
, you know, a lot of times it'smarket influence, whether it be
just a whole economy, whether it, you know, coming out of, going
into or coming out of war,obviously is going to increase
(07:30):
and or escalate.
You know, to a certain degree,when you come back into a growth
pattern, which we we have seen.
That when we look at interestrates though, we look at the 50
year average, actually you caneven go back 60 years and look
at these cycles there's reallyonly two major major correct in
cycles, if you will or I guess Ididn't correct it, but say
(07:53):
attention getting cycles, thatwould be interest rates in the
80s when we went, you know, 15,16, 17%, and then from 2010,.
Basically, we had quantitativeeasing set in and basically we
had 10 years of artificial pressdown interest rates, where the
(08:17):
government was artificiallypressing down the rates to these
sub 4%.
And that's the obviously thisseason that we're coming out of
and that's the tough one that alot of folks are still
struggling with.
They keep looking back, goingwell, the rates are going to go
back rates are going to go backWell you know they're only going
(08:39):
to go back with an artificialinterference.
They're not going to go backthrough.
What would be healthy isallowing the economy to dictate
where the interest rates go.
And so when we look at 50 yearsof interest rates, the mortgage
rate for a 30 year loan in theUnited States is average 7.75%
(09:04):
over those 50 years.
So we look at today's rate at8%, we're like, oh, these things
are terrible.
Actually, they're kind of inline with the average over 50
years.
They're just terrible comparedto this last 10 year cycle that
we've had, and that is afrustration, that is a hang up,
and the closer we are to thathappening, the more frustrating,
(09:28):
you know, the more frustratedfolks are, and they also hang on
to the hope that we're going togo back to that Now.
Could we Sure, because it'sgovernment.
And well, let's face it, theytend to do what government does
they will print money when it'snot necessary and they'll print
money when it's not necessary,so they will control economics
(09:53):
as much as they possibly can.
I think, as consumers, we haveto get back to the realization
of actually, we're really backnow to the perfect place we
should be, where the economy ofsupply and demand economics are
dictating the interest rate, andit just so happens we're just
(10:15):
about a quarter to a half apoint higher than the 50 year
average.
Again, I will say that's a goodpoint, easy for people to get
used to, but when we look at thehistory of of the economy and
the rates and the cycles, we'rekind of back home to where we
should have been, maybe the last, even 10 years.
Speaker 2 (10:37):
Yes, no, I'm, I'm right there with you.
I mean, that's, it's all in thenumbers.
So you know, you're exactlyright.
The uh, the 8%, is not that faroff of a traditional uh.
Mortgage rate is 7.75.
So it's it's frustratingbecause we had it good there for
(10:58):
a little bit and a lot of folkstook advantage of it and
they're kind of house locked now.
You know, I hear it left andright Well, gosh, patrick, we
want to come to Asheville so bad.
But I got a 2.95 mortgage hereand we're just struggling, uh,
with what we could get for thishome here in Iowa and uh, and
(11:19):
then you know what we could buythere, cause they're getting
online and they're seeing thehomes and they're seeing the
prices have increased.
So there's opportunities stillout there for folks you know to
to jump in right now.
And uh, you know, inventory inmy opinion is is still low.
Um, yes, sir, and uh, in ourarea it just gets swallowed up
(11:44):
If it's under $550,000, it's awrestling match in the front
yard.
They're, you know, workingaround yard art trying to keep
somebody from getting his house.
And so we, uh, we, I say yardart fund.
Um, we're in Western NorthCarolina, so you sometimes run
into a little bit of that, butwe call it artsy, that's right,
(12:07):
it's a little artsy, that's it.
But yeah, what uh?
Speaker 3 (12:11):
I'm also what, what, what thing?
Well, one thing I wanted to sayabout that real quick.
Patrick and I definitely westopped into the CPO, uh
programs, but you know one thingto think about it you, as the
consumer that does, feel trapped, because that's, I think you
use the right word, trapped is agood word they want.
So we're going to go back tothe reason to buy a home.
(12:32):
The best reason to buy a homeis to create the lifestyle in
which you want to create foryourself, your family, your
spouse, whoever your family unitis.
That's the whole reason forhome ownership.
Home ownership, in my opinion,design the life in which you
want to create, and and so,putting yourself on hold or
(12:53):
being trapped, you feel, um, andwe're talking to folks that
have a 2.8% interest rate, thatabsolutely deplore their
neighbors, their house, theireverything, but they feel stuck
or trapped, as you said, becauseof this interest rate, and so
we had to.
We've been coming up like, okay, well, how can we get you on
(13:14):
trap?
Because that's what a goodsalesperson does Figures, you
know.
We figure out the way, the path.
And so for some of my listenersor your listeners out here, I
would encourage you, let's sitdown and do the math, cause one
thing that we've looked at is,with rent increasing as great as
it has, especially in NorthCarolina, a lot of times you can
(13:36):
rent your home and the delta,meaning the difference between
your payment at the 2.8% andwhat the current rate of rent is
going for, actually, that money, patrick, will offset the
interest rate difference.
And so if we look at, okay, well, in an ideal situation I would
(13:59):
pull the trigger and move toAsheville or move to, you know,
north Carolina If rates were at4.5%.
Whatever, we'll make up anumber Right.
Well, we take a look at whattheir rate is at the 2.8.
And we take a look at what, youknow, rent for that home could
be.
And what we're seeing is mostowners are looking at anywhere
(14:21):
between 750 to $1,200 a monthpositive cash flow, money above
what their mortgage obligationis.
And then if we take and let'sjust make math easy for radio,
let's just say that it's $1,000of that delta, and we take that
$1,000 and apply it to the newhome that the new home is
(14:44):
setting at 7.5%, guess what whenI take that $1,000, which, by
the way, my tenant is paying-not you right If that money is
coming from the tenant of houseone.
Speaker 2 (14:56):
And you're still paying that house one's bills.
Speaker 3 (15:00):
Yes, you are.
And actually and I want to makesure they got the right you,
the right you is your tenantactually is paying that, not you
.
The property owners are on thedeed, so it's actually a.
It's a twofold win.
I've got a tenant paying houseaid my primary home at the time.
(15:20):
They're paying a hundredpercent of my cost, plus I'm
getting a thousand dollars tothe good to apply to the home
that I really, really, reallywant to live in.
That's my dream, or it's thehouse that at least lets me
create the lifestyle.
And guess what, when I zero outthat thousand dollars
difference in price, it takes my, effectively my interest rate
from seven point five and itgets me right back to like four,
(15:43):
four and a quarter, four and ahalf, which is kind of my
tolerated rate that I'd bewilling to pay, and and so it's
a win win.
Not only is your tenant payingfor the entire cost of the first
out, they're actually paying asubstantial portion of the home
that you really want to be in.
So we?
(16:04):
And how do you come to theserealizations?
You got to have conversationswith you know real estate
professionals out here in yourmarket.
So it's Rowena and her teamhere in Asheville.
You talk to them and you learnthe math and you create the
clear path and it makes it um,it makes it super easy to have
the visual now.
It makes it super easy to seethat, hey, I actually could do
(16:27):
this and I am not trapped,patrick, in my house like I
thought I was big.
It's a big aha for a lot ofpeople it is a great aha.
Speaker 2 (16:37):
I love it.
You know you can.
You can capitalize on that lowrate.
You have still go to the placethat you want to be, because
you've just fallen out of lovefrom this.
You know this.
I'm sure it's a wonderfulproperty but, jason, then you
just go ahead and maybe longterm rent that and, uh, and it's
(17:01):
quite substantial thedifference in rents now.
So you're exactly right.
Thank you for bringing that toour, our listeners.
That's a great way of thinkingabout this.
You know there's problems thatyou, you run into and I guess,
what does the problem create asfar as pain wise, and when is
(17:23):
that pain so great that thatthen you have to make that call
to you know, I got to get out ofthis.
I hear it all the time.
It's just become painful and,and that being either taking
care of the yard, taking care ofthe home, maybe you've sort of
ran through a little bit of afinancial, uh, downfall and you
(17:46):
didn't have the money to replacethat roof and, lo and behold,
it started leaking.
Or maybe you've got a problemwith a retention wall.
Or, you know, maybe you got astinky ashtray and you're just
ready to get it out of it andmove on to a retirement facility
.
That's where this cpo programis so wonderful for folks, and
(18:09):
we've helped people inforeclosure.
It is a good feeling when youtake somebody.
That was so stressful a weekand a half ago.
You get them to the, to wherethey're paid off their debt,
which is a ton of bricks on them, so much though it gives them a
heart attack quite literally,and, uh, you know they can.
(18:30):
They're now free, they're freeof the burden, and so that's
what this wonderful cpo programhas been creating and I'm so
excited that Rowena is iscreated an opportunity for our
customers, our clients, to beable to win, and it.
It really is something that youknow.
(18:53):
As realtors, we really do careabout people and we take it home
with us and we, you know wesleep on it, and I know you want
to make sure that your clientsbuying a home getting a good
home, but you also want to makesure your seller is getting
everything they can for a homeand and and not going through a
burden.
You know it, it's not easylisting a home going in and out,
(19:16):
people coming in and out, butthen what people don't realize
is your 1970s and 80s furniturejust didn't appealing to what
this market might be trying tofind.
And you know, those blue andyellow walls, those just aren't
exactly what they're looking foreither.
And now they're starting to geta little bit of choice because
(19:38):
there there's a little bit ofproduct coming on the market a
little bit more here and there,and so there's starting to be a
little bit of a choice.
And homes are overpriced alittle bit right now because
people are sort of going througha little bit of a shock.
Where we're finding overpricedis in some of our areas is the
(19:58):
appraisals coming back.
But you know that's kind ofwashed out by a lot of folks
that are sitting on cash becausethey sold their house somewhere
else.
I've found that about 50percent of our market here is is
at least seniors, 55 and overpurchasing.
So this CPO program, man, hasbeen fantastic.
(20:21):
We're using it in so manydifferent ways and you know
there's the fizzbo for sale byowner CPO, there's relocation
CPO, there's a state CPO, momand dad have passed away.
You know Asheville.
The way it is for us here,jason, is people come here to
die and they might be 55 or 60and they spend 30, 40 years here
(20:46):
retired and they forgot moneyand they've taken care of their
places and they've kept thishome for their kids to be able
to have something to sell andhave a little bit of money.
Well, guess what?
The kids?
They don't want the home.
They're happy wherever they'reat.
They really don't want theproblem, right?
So maybe you take care of ofthat through, you know, letting
(21:10):
us go ahead and sell it for you,go through type of retirement,
cpo, and move on over toassisted living, so CPO, it's
just a fantastic way of of beingable to handle your home
without messing with all thestuff that's involved with
listing and selling your home.
The phone calls and thenrealizing that you know most
(21:32):
agents don't necessarily tellyou this, but a third of deals
fall out.
So then you're going throughthe process again and then it's
a stigmatized home.
Why did it fall out?
Speaker 3 (21:43):
you know right but your thoughts on this never oh,
where have you been this week?
Speaker 2 (21:50):
what has your team been able to capture?
What are some of yourexperience?
Experiences with the certifiedpre-owned home program?
Speaker 3 (21:59):
yeah, so I think let's, let's, let's start with
this, because not, we have a lotof new listeners all the time,
so let's talk about what is CPO.
So certified pre-empt,certified pre-owned is, in its
essence, is essentially we'regoing to get your home
pre-inspected to find out whatis right and wrong with the
property.
(22:19):
All right, we'll do a titlesearch on the property, make
sure there's no major titleissues, or these would be
typically what we find is thetitle issue was it was just a
clerical error, it was a mistakethat an attorney made.
It could be a mistake and ifyou refinanced your home or did
a home equity line of credit,perhaps the original mortgage
(22:42):
did not get closed out properly.
That in North Carolina createswhat we call a cloud on the
title, which can hinder you andwill hinder you from being able
to sell your home.
So we want to find these thingsout front.
We want to find out what iswrong, what is right, are there
any issues with the title?
And of course, we put a warrantyon the home that can transfer
(23:03):
to the owner, to the new owner,but really is to protect you,
the person that owns the house.
Now I call it Murphy's law,repellent Patrick, because it's
just life.
Anytime you decide to dosomething, oh, when Murphy shows
up and you know the hot waterheater in the house has been
fantastic the whole time youlive there and we put the house
(23:24):
on the market and of course, thefirst thing that happens is hot
water heater decides to stopworking, and so what we would do
is the warranty kick in and getthat replaced for you.
So getting the house certifiedalso gives the person buying the
house peace of mind.
It is, you know, statisticallyproven with every single product
(23:46):
under the sun, that when theconsumer has a clear
understanding as to what they'rebuying, whether it be perfect
or whether there'd be problemsonce they have a clear
understanding of what it is,they actually are willing to pay
more for the product by havingan education.
So it works with widgets, itworks with cars, it works with
(24:07):
real estate, and so the CP thatis the master role piece of the
certified preown is we'redisplaying to the consumer what
is going on with the house,which gives them confidence to
move forward.
Think about it Psychologicallyus as humans, when we're
uncertain at something and wereally don't know what we're
(24:28):
doing, our protection mechanismtypically is this term we'd like
to use called low ball.
I'm going to low ball Patrickon the offer because I don't
know if the car runs all thetime as he says it does.
I'm going to low ball Patrickon the offer because I don't
know.
I haven't been in the crawlspace, I haven't been in the
(24:51):
attic.
I feel like the heat is workingtoday, but did they do
something to patch the heatingand cooling system just for the
time in which they're showing it?
With the certified preown, weknow the answer to those
questions because we had thehome checked out, in the crawl
space in the attic, had theheating and cooling checked out,
and we give those reports andshare that data with the
(25:14):
consumer, which gives them aconfidence in knowing that a
third party checked this out andverified it and they feel good
about it.
So that is the essence of thatcertified preown.
And then we look at, you know,the four sub owner piece, the
assisted living piece and thosethings, and kind of dissect the
(25:35):
person, the audience and whatwe're talking to.
And the really cool thing aboutthis is connecting with our
investor group, which is wherethe real power of this comes in.
So we do this for our consumersall throughout the state of
North Carolina, us involved inthis program.
Well, we found an investor thatactually loved it and likes,
(25:58):
liked our program and liked thecertified preown process, and
just so happens that that isalso what they would do when
they purchased investmentproperty, which was a great
little marriage, if you will.
And so, fred, our investorsteps in, basically reviews our
certified preown system and thehouse, and then what?
(26:20):
What does he have fullconfidence to move forward.
And the amazing thing aboutthis particular investment
groups that we work with,patrick, is they make a full,
fair market price offer on thehouse.
Speaker 2 (26:34):
This isn't your typical full market value cash
offer.
I mean, that's incredible.
Speaker 3 (26:41):
Yes, and this is this is somebody that gets real
estate, gets the program, butalso gets real estate,
understands that there arethings that you can do to a home
to bring them in line withcurrent market conditions and
typically that does have to dowith the condition of the house
and it creates.
It creates equity, it creates a, it creates a, a sellable asset
(27:04):
that appeals to more people.
And when you have somethingthat appeals to more people,
well, typically the price doesgo go up.
And to your point, about the1970s in a home, not just the
furniture, but perhaps you know,the wallpaper, maybe not even
the seventies.
I mean we could get into theeighties.
(27:24):
I mean, if you have Ivy borderin your kitchen, we're probably
talking to you folks, these,these, you know if you're if you
have Berber carpet, yes, we aretalking to you, we can help,
because a lot of times I think alot of times pleasure we talk
to folks that they know that thehouse is dated, they know that
(27:47):
the house needs probably youknow, probably you know fresh
paint, carpet, countertops,these types of things to be in
contention to get top dollar.
But there's a risk associatedwith that and when you don't do
it every day, it just feels veryburdensome.
And they don't want to make amistake.
You know, if I, if I've livedin my home for 25 years and it
(28:10):
basically let's just say it'sexactly the way it was when I
bought it 25 years ago, I mean,look, I loved it 25 years ago
when I bought it, just as it was, it was my maybe dream house.
But I've I've not changedanything, even though I kind of
know I I should have.
What the conversation that wehear is I just don't want to
(28:33):
make a mistake, jason.
I don't want to make a mistake.
I don't want to choose thewrong paint color.
I don't want to.
You know, I don't want to.
I don't want to spend $10,000and put the wrong type of floor
covering down, whether it becarpet or whatever it is.
You know I don't have the moneyto correct that mistake If I
make the wrong decision.
That is the beauty of the CBOprogram and working with our
(28:55):
investor.
They do thousands of houses andthey have the data and they
know exactly what the consumeris looking for and they are
taking that risk going forwardnot you, the homeowner, which
feels um well, patrick, what wehear is it feels like a big
relief.
I don't know what you guys arehearing, but that's what we're
(29:16):
hearing.
Speaker 2 (29:17):
Oh, it's a big relief for our folks.
I've I've got one that reallyyou know they had, they actually
had gone that rental routebecause they do have that low
rate and they're over inCharlotte and um well, the home
just started.
You know it needed a hot waterheater, it needed this.
(29:38):
You know it became to wherethey weren't able to come by and
just visit and make sure thegrass was cut, kind of thing.
As a, as a renter, sometimesyou forget to break out the
lawnmower and cut your grass.
But you know, sometimes thatcall from the landlord hey
listen, the grass is kind oftall.
The neighbor called and you knowbut one any bugs or snakes in
(30:01):
her yard.
So, anyway, you know, you getthat grass cut for me, okay,
well, it doesn't happen.
Next thing, you know, you domake a drive by.
You come by, your house looksawful, you know, and it's like
all right, that's it, I'm justdone with this.
And that's sort of where theywere at.
Um, renting is not easy, sothat's the other flip there.
(30:23):
You know, yeah, you got thatgreat rate, but you also got to
deal with renters.
Um, maybe it's a good programfor you, maybe it works for a
little bit.
Well, what do you know?
They sort of they didn't trashthe place by any means, they
just didn't keep it up like ifyou owned the home.
So the, the pride of homeowners, the home ownership
wasn't there.
And, uh, although they weren't,you know, vicious to the home,
(30:49):
it still gets wear and tear.
And so you, you come back intothe home after the renters left
and it's like, goodness, let'scall Patrick.
So, sure enough, man, we gotthe.
Uh, we got a good offer.
The appraisal came back,actually over the offer, um and
uh, we went in there, we spentabout $10,000 just getting,
(31:12):
really removing a lot of stuffand, um, you know, painting a
little bit.
We got some siding up that wasuh had fallen and uh just really
just cleaned it up, cut down abunch of dead trees and fruit
trees that were not dead butlooked not right, and so uh
(31:33):
cleaned it up.
Man, this place looks beautifuland we just went on the market
yesterday and I've had fantasticvolume of uh scheduling's uh to
go out and see it.
So I'm excited about it.
Getting that one sold productsgoing quick.
It's a, it's a good program.
It's been really smooth for my,my sellers and you know, with
(31:54):
the Cpo We've been able to beupfront about everything the
appraisal, the inspection.
I have all that informationwhen I go to sell this house now
.
So it's like you know, here itis With the improvements and
everything.
This is where we price thehouse from top of this appraisal
(32:15):
and that's what we would liketo have for it and it makes for
just like what you said.
All the information is outthere.
We, as consumers, we we'vegotten more smart about what
we're buying too, and so thatyou know, there's a lot of
information on the internet thatprovides you with the ability
(32:35):
to research and Find out about aproperty.
So I Like to do videos, gothrough the home and do videos
and then upload those to YouTubeon these homes.
So that's been a big help.
You can actually walk throughthe home.
So as agents, I encourage themto do that to all their homes.
You wouldn't believe how manythat don't.
(32:56):
But the Cpo program isdefinitely a program not
necessarily for everybodybecause if you're upside down in
your home, maybe you got a,maybe you took another mortgage
out on it, so your second putyou on top and and sort of
floating heavy and maybe thatprogram doesn't work for you.
But maybe you don't oweanything on your home and you
(33:18):
just don't want to list it andyou don't want to do all this
fixing.
Listen, this program is perfectfor you.
Yeah, that's where you give usa telephone call Let us come out
, get something put together.
We'll do a full market valuecash offer and we can do that in
12 days.
Now, oftentimes I Try to get alittle bit more time in there
(33:43):
just to make sure that we're notrushing, but we've done it in
12 days.
We've gotten that appraisalback, we've gotten that
inspection back and Found outwhat's cooking with this house,
what does it need, and then wefully disclose it and it's.
It's been a Real nice benefitbecause what I'm able to do is
(34:03):
bring a home that might havebeen an ashtray May I had a
moisture problem in the basement, might have been some elevated
rate on, and I've now putsomething on the market that's
been cleaned up.
It's shined up really nice andFolks aren't moving into
something that's needing repair.
I don't ever do repair andthey're living in something
(34:25):
that's not, as you know, maybenot as nice as what we've
provided now.
So it's my experience with theCPO programs been great, not for
everybody, but boy has it beenhelping some folks that really
needed it, especially atforeclosure victim coming on.
Speaker 3 (34:42):
Oh, absolutely yes, sir, and you know, and there's
and to your point, you know,with the assisted living piece I
mean there's, there's folks inall of our communities that the
children are Well, let's, let'sput it this way, I mean, if
you're kind of consideringassisted living in your up in
those years, your kids probablyin any spring chickens either,
(35:04):
right, so you know, I mean theymay not.
I've actually sold homes wherethe owners, the parents, who
actually were still in reallygood condition and health, they
were moving to a Community inwhich they could get some help
and their children actuallyphysically and all that were in
(35:25):
worse shape than they were, andso they couldn't help them with
certain things that that we canstep in and assist with and
helping them with thattransition.
The other thing too is is thisis a big one is fear.
You know life happens and youknow when you, when you're going
(35:47):
through something, you need anadvocate and you need somebody
on your side.
And that's where I believe aProfessional real estate you
know I'm not gonna categorizeevery real estate in that, I'm
talking about the trueprofessional real estate in the
state, in the industry.
That's where they can reallystep up and give you guidance
(36:11):
and help you through thosesituations In with the CPO
Program that really does do allthe heavy lifting for you so
that you can Move on to the nextstep of your life.
Whatever that may be, and, andlet's face it, when you're in
fear of you know the bank ishounding you for a mortgage
(36:32):
payment, what I find istypically the house is the last
thing that people stop paying,so you may already be just worn
out, weary and tired from allthe other creditors to credit
card companies.
Maybe the car payment is, youknow, the guy with the car is is
, you know, beating on you andhopefully have it.
(36:54):
Maybe they've alreadyrepossessed the car and you just
find yourself in this, in thisstate of Uncertainty, and a lot
of folks go into hibernation.
A lot of folks just put theirhead in the sand and Hide and
hope that these things go away.
And they don't, and myexperience vote and they won't
(37:15):
and they're not going to andthere's, it just is life and
it's Won't even get into thefair and unfair pieces of all
these things.
But look, it's happening and andmost of the time, what you need
is just some strong shouldersto stand up on.
That's where a solid realestate professional can help,
(37:36):
that has systems and tools likethe CPO process and like a large
, you know, database ofinvestors.
To that typically, at thatpoint with this particular
program, is what you're going toneed.
You're going to need somebodythat can move relatively quickly
Because we're facing a timeclock.
You know, if you don't do X bycertain time, I mean ultimately
(38:00):
guys, the bank is going to cometake the house I mean it is
their collateral, it is going tohappen and a lot of times with
our investors, you know, we canalso assist with the moving
piece, whether you know whetherit be in the CPO process, but we
have, you know, we have otherprograms and I know Rowena does
(38:20):
too when there's, there'sinvestors out there that can
help you.
Maybe it's just a few thousanddollars to get you to the next
place, whatever you know,whatever that looks like, and so
there's options out there asopposed to just Doing nothing.
The other thing is a lot oftimes we find that people have a
lot of equity still in theirhome.
(38:41):
Just because you're buyingunder payments Doesn't mean you
don't have equity in your house.
It's your money, that's right.
I actually purchased a homemyself at a foreclosure auction.
So a foreclosure auction meansyou don't get to go to the house
and look at it Before you buyit.
In North Carolina that's calledtrespassing.
Okay, because the bank doesn'ttechnically own it yet, but they
(39:04):
are gonna own it at the fore.
After the foreclosure IPurchased a home that was being
foreclosed on.
You know, just don't reallygive you a lot of details, just
here's the auction date.
Right, patrick, you show up,you take your bid and that's
that, and so I wanted to bid.
Turns out, the folks there wasno mortgage on this house,
patrick, the HOA foreclosed.
(39:26):
These people lost their homefor thirty eight hundred dollars
I know that is what they werebehind in their HOA dues and so
not only okay, so we got thehome.
They're living in the housestill, really not knowing what's
going on.
And the great thing in NorthCarolina is we paid, obviously
(39:47):
Considerably more than thirtyeight hundred dollars for the
house.
We paid hundreds of thousandsof dollars.
They were still entitled tothat money, and so we were able
to Help them go to the clerk,the court, be able to claim the
money that was rightfully theirs, and they were able to get that
money and move into a propertythat fit the lifestyle at that
(40:10):
time.
I Say that that, though you, ifthey would have reached out to
us ahead of time, we could haveavoid a lot of the fees, or they
could have with it a lot of thefees that the bank put in there
.
Had they just reached out to us, we could have purchased the
home prior to the foreclosure,which would have gave them, you
know, more money, because wedon't have attorneys involved in
(40:32):
all those things at that time.
So, guys, if you're facingsomething like that, you know
these programs that we have,whether it be, you know, the Cpo
for so, by owner, the assistedliving, whatever the case may be
, or you just simply want toSell your home without the
hassle of strangers walk intoyour house.
(40:53):
I mean, patrick, have you everhad a dinner party?
And, just like, mailed outinvitations to random people and
just said hey.
Come eat with us.
Like who does that?
Speaker 2 (41:03):
right right.
Speaker 3 (41:05):
But that's, but that's what we do when we sell
our home.
We just say, hey, um strangercome walk through my house and
check it out.
Yeah that's not for everybody.
It's not for everybody.
Speaker 2 (41:17):
That's right, that's right.
Speaker 3 (41:18):
Jason, thank you for bringing that up.
Speaker 2 (41:20):
That you know it's, it's Really is not for everybody
.
And and that's what I hear whenI come in the photo what well
do you have somebody?
It might just go ahead and buyit and we don't have to go
through that listing.
Well, yeah, I do have somepocket buyers, but you know it's
, it's often not that full cash,that full.
(41:43):
You know market value, cashoffer and that's what this Cpo
program provides and and so onceyou sell your home, you get to
keep all the upside and you know, traditionally Well, with this
program two-thirds of thesellers make more than they
would have on the traditionalhome sales.
(42:04):
So you don't have to go throughthe headaches of repair,
renegotiation and showings andand dealing with the listing,
you know.
And the agent doesn't have tocome and Sort of waddle through
your stuff.
Because I'll be honest with youand and and I might fall in
this category a bit myself andsome points and times in my life
(42:25):
I've purged a little bit nowbut Sometimes you got a lot of
stuff and walking people throughall your oh man, yeah, and then
it becomes a game of and I'vedone it a hundred times Nobody's
looking at the house, they'relooking at all this stuff?
How do they have all this stuff?
You know, wow, look at that,that's from the 70s.
(42:47):
Oh, I haven't seen a console TVlike that in forever.
Anyway, I'm just saying, Well,yeah, that's right.
Speaker 3 (42:56):
Well, you think about why do people move?
I mean, most people movebecause a lot of times they're
out of space.
So when they come, look at yourhome and it's crammed, you know
your house probably is actuallyperfectly.
You know it's perfect for them.
They probably wouldn't haveshowed up based upon some of the
data that they gathered.
But when they come in there andit's packed floor to ceiling
(43:16):
and every single closet, they'relike oh, we can't buy this out.
They don't have any storageeither.
We need a bigger house, becausewe would need what?
Speaker 2 (43:22):
more storage.
Yeah, and the pictures paintedfor you don't even have a chance
.
So with the CPO program, youknow you clear your stuff on out
of there.
Maybe we freshen it up.
Maybe we take that white carpetfor some reason here in in
Western Asheville, northCarolina, western North Carolina
the 80s were big time on whitecarpet, which you know.
(43:44):
I drink red wine a good bit,Randy, you know White wine.
You probably get away with it.
The two don't mix the two don'tmix white carpet and red wine
and red wine don't go together,but anyway the white marbles
also tough for the the red wine,but I'll deal with that because
I love, I love white.
Speaker 3 (44:07):
Yeah, another point I'll bring out.
If you had white carpetinstalled in the 80s, folks,
let's just be real, it ain'twhite anymore.
No, I mean it just.
Speaker 2 (44:17):
The corners are nice and brown yeah.
Speaker 3 (44:22):
Unless you can levitate over the carpet.
No, no.
But how about?
How about kids and pets,patrick?
I mean, I Mean I I feel For theyoung moms when we sell their
home, because I'm looking at, Iknow what my life was like when
my girls Were small and not evenselling home.
(44:42):
I mean.
You know you it's.
It's just a miracle thateverybody is still living,
getting ready for the showing,but I probably throw up the item
.
Speaker 2 (44:53):
Wherever we got a item, all right, you pile your
three kids and your three dogsin the car and you just spent
two and a half hours Shiningthis place up.
You are wore out and now yougot to listen to crying babies
going down the road.
I've been there.
Speaker 3 (45:08):
Oh, absolutely yeah or or I mean it, we get, we get
these calls.
It'd be like, oh, I can't do it.
I mean I got the kids in those,how?
I mean I got the kids andeverything picked up and then
the Dog don't throw up all overthe place.
It's like I'm done.
I can't do this anymore.
Stop the madness.
Right, and in the past yearsit's been maybe not quite, as
(45:29):
it's always a little crazy, butyou know the houses haven't been
on the market that long.
But wait, let's go back to like.
Let's go back to the fun times2013, 14 and 15 when your house
was on the market for ninemonths and you never even knew
when the shelling was going tohappen.
And you, you went 20 dayswithout a showing and all of a
sudden, patrick calls you.
(45:50):
You got somebody coming in fromIowa that you know.
Whatever, they sold their housefinally as well, they want to
see it.
You're like, oh my god.
I'm not ready and that stress,and so that's what you can avoid
and that's the beautiful thingabout all these different, you
(46:11):
know, types of the certified,pre-owned variant, if you will,
these variants that we have onthe program.
It's really how about this oneshowing One time?
Speaker 2 (46:22):
walk through the house and that's Patrick a a
Walking through your home andsaying, yeah, this, this place,
will qualify just fine for a CPO.
Speaker 3 (46:34):
Exactly well, you know the new home one closing.
Speaker 2 (46:37):
Yeah, the new home program is pretty cool too If
you think about it this way.
You know, you've got an offerin your pocket and in although
Patrick wants you to do it rightnow this thing sort of sitting
around there a minute.
Now the market might fluctuate,that offer might be a little
bit different, the praise willmight change in six months, but
it's still there.
So let's say, for instance,you're building a new home and
(47:00):
you know, you just, you don'twant to deal with showings.
You got your life, you're overhere building this new home, and
then it comes up to where youknow you need to go ahead and
get it sold.
Well, you get it on the marketfor a week or so, nothing
happens.
You got this CPO offer in theback pocket.
Boom, you cash in, you get yourmoney, you go ahead and get
(47:20):
your new home, you move on overthere and and and, then let us
finish it up if it needs someshining.
And then you know you get toprove, you know, participate in
the the win, and you keep allthe upside.
You keep the waterfall.
After we've cleaned it up, weput it back on the market.
(47:42):
Yeah, man, this is a greatprogram to where you don't have
to deal with a lot of theunnecessary I don't know actions
that we go through, but youalso know exactly what your
home's worth.
You've gotten an inspection andlet's just say it didn't work
out.
Your arms with information andyou can go back to the market
(48:06):
with a traditional cell.
You know, maybe you realizedafter talking to us that you
know what you guys.
We can pull all the furnitureon out of here.
We can, paint these walls, wecan, but do you really want to
do that?
No, right?
So yeah, go ahead andparticipate in this program.
Let us do all the busy work andall the hard work right, Jason.
Speaker 3 (48:27):
That's right and that's a valuable thing you just
you just said, because a lot oftimes if you deal with a lot,
of, a lot of investors out herein the world, they'll put your
house under contract, they'll dotheir due diligence and then
they say, oh, it doesn't workand they walk away.
You've got nothing.
Nothing with the CPO program,if the investor decides, okay,
maybe the math just doesn't work, for whatever reason, you know,
(48:50):
whatever just it could be any.
It just the start of movedidn't align.
Hey, guess what?
They're gonna give you theappraisal, they're gonna give
you the home inspection, they'regonna give you these, these and
this investigation work thatthey did.
That's thousands of dollars ofvalue that you have.
That you at no cost.
That's so.
That's a huge incentive.
(49:11):
And then to my point, if youdid re-enter the market, you're
armed with information in whichPerhaps didn't work for one
investor a bit, maybe works forJohn and Mary that are deciding
to move in and they're notconcerned about this and that
and they're gonna do the elbowgrease themselves or whatever.
So there's, there's still valuein Getting the data, getting
(49:34):
the information.
Speaker 2 (49:35):
That's right, man, that's right, you know, and I've
found that it's.
It brings up a big conversationwithin the family too, because
then they're they're able totalk about well, well, maybe we
do do this, we can, we can makeour move.
We're gonna have 20% after thisto put down on this other home
that I really want, and sothat's.
(49:56):
You know, I don't know.
I've, I've found ways to beable to use this program and
it's opened my mind to Reallybeing able to have something to
help people, and that's what Idig.
Man, this is the first programthat I've run across.
That's not a 50% offer and then,you know, minus out the repairs
(50:17):
, it's not a 70% offer and thenminus out the repairs.
This is an offer that's a fullmarket value cash offer and you
get to participate in theupsides of it.
So, if everything goes to planand works perfectly, a lot of
times you've got value therethat you know you wouldn't have
(50:39):
gotten otherwise.
So you can also participate inour tunnels, the towers program,
and you can donate that moneyto veterans, that money being
the windfall, the waterfall partof this, the upside of the cell
of the home, once we, we get itfixed for you and clean it up
and, and so that's a anotherprogram that we participate in
(51:02):
to help our veterans out there.
And you know they go and takethat money and they pay off
wounded warriors Mortgages.
They come in and put new roofson houses of retired veterans
that have sort of gone into abad place.
So cash CPO options arephenomenal.
(51:25):
Jason, I want to thank you somuch today for coming on and
your expertise and just knowingyour market there and Raleigh,
but just knowing North Carolinaas a whole and being a
Participant in this greatprogram, I'm just thrilled and
honored to have you on the show.
Thank you so much, jason.
If somebody were moving toRaleigh, how would they get in
(51:47):
touch with you?
What's the name of all yourfirm and your folks?
Speaker 3 (51:52):
Yeah, so I'll make it really easy.
I'm a hard guy to find.
Just go Google Jason Bramble,how about that?
And we should be coming up yeahthere's there's two Jason
Bramble.
They're gonna show up.
One lives in Nashville as acountry singer.
I'm not him, I'm the other guy?
How about that the other guy?
That's anything to do with realestate.
(52:13):
We can help you pretty much Allthe Raleigh, the triangle area,
the triad area, some Greensboro, winston-salem, high Point as
well 30 something counties inthe state of North Carolina that
we cover.
We can certainly assist youwith relocation.
Or if you want to get moreinformation about the CPO, or if
you you know you can also reachme.
If you can't get in touch withRowena Patrick for whatever
(52:35):
reason, just reach out so we'llconnect you guys.
We we will be happy to sharethe information to get you
connected with them as well.
Speaker 2 (52:43):
That's great, jason Bramlett BRAMB.
Let just Google on me, you canfind them.
Folks, everybody I want tothank you for listening today.
Randy, my producer, thank youfor always holding my hand.
And hey, listen, folks, reachout there to somebody you hadn't
talked to in a while.
Go Ahead and reach out to thatfriend you hadn't talked to.
(53:03):
Maybe it's been ten years.
You just tell them hey, I ranacross your phone number, was
thinking about you.
This is a time when we all needthat touch you guys.
So reach out to that familymember.
Maybe y'all had a little bit ofa fight or something.
Just call them today.
Today's a beautiful day.
Reach out to your friends.
Thank you very much, patrick,here filling in for Rowena
(53:23):
Patton and all-star powerhousein Asheville, north Carolina.
Speaker 1 (53:46):
This has been the plain English real estate show
with Rowena Patton.
Visit Rowena and post yourquestions at radioashvillecom or
call her at 828-210-1648.
Don't let real estate pass you by with old star
powerhouse.
This is the Plain English RealEstate Show with your host,
rowena Patton, a show thatfocuses on the real estate
market in terms you can easilyunderstand.
Call Rowena now.
(00:22):
The number is240-9962-1800-570-9962.
Now here's the English girl inthe mountains, the agent that I
would trust, rowena Patton.
Speaker 2 (00:34):
Good morning.
It's Patrick Frenzen Steppingin for my best friend, rowena
Patton.
Yeah, folks, thank you forlistening.
Today we're going to have anexciting show.
I've got a fantastic guest,jason Bramlett, on the show
today with us and I'm superfantastic excited about having
(01:00):
him in a discussion.
It's just quite interestingevery time.
You know, jason's been in NorthCarolina a very long time.
He's practiced real estate for25 years, you guys.
So there might be someexperience coming out of this
fella's mouth.
You know he's one of the fewthat's still around that can
even handle doing this 25 yearsand he's cooking.
(01:21):
I bet he's got another 25 inhim, but I'm very excited about
his conversation today.
You know we've got all kinds oftopics we can talk about in the
real estate world right now,from interest rates to what the
market's doing, who our buyersare, and Jason's over in Raleigh
(01:42):
, north Carolina.
My listeners are excited aboutthat because we kind of you know
, we know the Asheville marketpretty good.
We tell you a lot about what'sgoing on in Asheville, but it's
nice to hear what's cooking onthat part of the state and in
the middle part of the state.
So, without any further ado,I'd love to get Jason on here
(02:03):
and say a big hello.
Thank you, jason.
Speaker 3 (02:07):
Hey, good morning Patrick.
It's good to hear your voice onthis beautiful North Carolina
Saturday.
How about that?
You could bottle this up andsell it almost, I think.
Speaker 2 (02:19):
Oh man, it's just absolutely beautiful.
Our weather is just perfecthere in Asheville.
It was crisp this morning.
Right now we're about 56degrees and just lovely, and the
day's going to heat up toaround the 70s.
So I know everyone that's cometo visit here in Asheville is
just having a treat right now.
(02:40):
I know I've got some clientsthat have come in and they've
bought homes and this Ashevillearea is their second home market
, you know, and they're comingup and visiting and they're
loving the change of the foliagearound our area here in Western
North Carolina, and I'm sureyour leaves are looking good too
over there.
Speaker 3 (03:02):
Oh, yes, absolutely yes, it is.
We're a little, you know, acouple of weeks behind you guys,
I'm sure and you know, but it's, I don't know, october and even
, I guess, in November.
Now, as we cruise through, it'samazing how quick.
October is my favorite monthand I'm always disappointed how
(03:22):
quickly it does go.
That is for sure.
But none like the changing ofthe seasons, the changing of the
real estate market as they sayis quite.
I don't know if it's quite asbeautiful as the leaves and the
photography and all that that wehave in Asheville and
throughout our state, but it'sdefinitely changing, that is for
(03:43):
sure.
And you got to be ready becauselots of new things are hitting
the real estate market, that isfor sure.
Speaker 2 (03:49):
Yeah, it's a big topic for everybody and of
course you know we have our CPOprograms that you're part of and
I am part of a fantastic groupof agents that are training to
handle all the different typesof situations that can confront
(04:12):
our customers, clients, friendsand families and the people that
we're close to.
And it's very nice to geteducated on not only these cash
CPO programs but just how tohelp your folks and how to help
seniors and then how to helpseniors families and then how to
help divorce ease.
(04:33):
You know a lot of folks gothrough that.
I'm a participant, randy.
I think you've jumped in thatprogram once before, maybe, and
no comment.
No comment.
Okay, sorry, he knows it's overhere.
Speaker 3 (04:48):
Randy, we cannot use any wisdom on this show.
You've got to, you've got tosteal it.
Speaker 2 (04:54):
Oh man, well, you know, the wisdom comes with your
agent, and that's one of thethings with this top group of
folks at CPO is we're learningand we have learned, we've
learned not to do that again.
Speaker 1 (05:08):
Yeah, we've learned not to do it again.
Speaker 2 (05:10):
So it's.
But we've also learned how tohelp people with experience and
with empathy.
And you know I I know Jason'spretty much covered all of these
a lot and you're you're anexpert.
No, most any of those fieldsprior to the CPO program.
(05:31):
From what I realized andlistening to the past programs,
you've been doing this for 25years.
Speaker 3 (05:40):
Yeah, yeah, yeah, and it seems, it seems as though
that went very quickly.
It is some days I wake up andit's like there is absolutely no
way the man in the mirror I'mlooking at is me.
I just because I I don't feelthe age in which may be
(06:01):
reflecting back to me.
We'll put it that way.
Speaker 2 (06:03):
I guess what I'm getting at is is your experience
with cycles.
you know and, and you know themarket is always exciting and
and we've been very vibrant andwe're we're starting to see, you
know, a tell off or maybe astabilization, possibly,
hopefully, for folks.
(06:24):
But you know, I understand thatyou know about the cycles, so
can you share with us, overthose 25 years, the cycles?
I mean?
I know about them.
I've been in a real state sinceoh six and you know, I know the
ups and downs and and I wouldlike to help our folks
(06:46):
understand and how to cover whenthose cycles are up and down.
You know, clement Houglaur cameup with the economic cycle back
in 1860.
And so those up and downs withour markets are are very common.
This one's been a strange one,this last one, but share with us
a little bit what your thoughtsare for the future.
Speaker 3 (07:10):
Yeah, for sure.
I mean it's, you know, withthese cycles that come through.
I mean, the weirdest thingabout the last one we have is is
, you know, a lot of times it'smarket influence, whether it be
just a whole economy, whether it, you know, coming out of, going
into or coming out of war,obviously is going to increase
(07:30):
and or escalate.
You know, to a certain degree,when you come back into a growth
pattern, which we we have seen.
That when we look at interestrates though, we look at the 50
year average, actually you caneven go back 60 years and look
at these cycles there's reallyonly two major major correct in
cycles, if you will or I guess Ididn't correct it, but say
(07:53):
attention getting cycles, thatwould be interest rates in the
80s when we went, you know, 15,16, 17%, and then from 2010,.
Basically, we had quantitativeeasing set in and basically we
had 10 years of artificial pressdown interest rates, where the
(08:17):
government was artificiallypressing down the rates to these
sub 4%.
And that's the obviously thisseason that we're coming out of
and that's the tough one that alot of folks are still
struggling with.
They keep looking back, goingwell, the rates are going to go
back rates are going to go backWell you know they're only going
(08:39):
to go back with an artificialinterference.
They're not going to go backthrough.
What would be healthy isallowing the economy to dictate
where the interest rates go.
And so when we look at 50 yearsof interest rates, the mortgage
rate for a 30 year loan in theUnited States is average 7.75%
(09:04):
over those 50 years.
So we look at today's rate at8%, we're like, oh, these things
are terrible.
Actually, they're kind of inline with the average over 50
years.
They're just terrible comparedto this last 10 year cycle that
we've had, and that is afrustration, that is a hang up,
and the closer we are to thathappening, the more frustrating,
(09:28):
you know, the more frustratedfolks are, and they also hang on
to the hope that we're going togo back to that Now.
Could we Sure, because it'sgovernment.
And well, let's face it, theytend to do what government does
they will print money when it'snot necessary and they'll print
money when it's not necessary,so they will control economics
(09:53):
as much as they possibly can.
I think, as consumers, we haveto get back to the realization
of actually, we're really backnow to the perfect place we
should be, where the economy ofsupply and demand economics are
dictating the interest rate, andit just so happens we're just
(10:15):
about a quarter to a half apoint higher than the 50 year
average.
Again, I will say that's a goodpoint, easy for people to get
used to, but when we look at thehistory of of the economy and
the rates and the cycles, we'rekind of back home to where we
should have been, maybe the last, even 10 years.
Speaker 2 (10:37):
Yes, no, I'm, I'm right there with you.
I mean, that's, it's all in thenumbers.
So you know, you're exactlyright.
The uh, the 8%, is not that faroff of a traditional uh.
Mortgage rate is 7.75.
So it's it's frustratingbecause we had it good there for
(10:58):
a little bit and a lot of folkstook advantage of it and
they're kind of house locked now.
You know, I hear it left andright Well, gosh, patrick, we
want to come to Asheville so bad.
But I got a 2.95 mortgage hereand we're just struggling, uh,
with what we could get for thishome here in Iowa and uh, and
(11:19):
then you know what we could buythere, cause they're getting
online and they're seeing thehomes and they're seeing the
prices have increased.
So there's opportunities stillout there for folks you know to
to jump in right now.
And uh, you know, inventory inmy opinion is is still low.
Um, yes, sir, and uh, in ourarea it just gets swallowed up
(11:44):
If it's under $550,000, it's awrestling match in the front
yard.
They're, you know, workingaround yard art trying to keep
somebody from getting his house.
And so we, uh, we, I say yardart fund.
Um, we're in Western NorthCarolina, so you sometimes run
into a little bit of that, butwe call it artsy, that's right,
(12:07):
it's a little artsy, that's it.
But yeah, what uh?
Speaker 3 (12:11):
I'm also what, what, what thing?
Well, one thing I wanted to sayabout that real quick.
Patrick and I definitely westopped into the CPO, uh
programs, but you know one thingto think about it you, as the
consumer that does, feel trapped, because that's, I think you
use the right word, trapped is agood word they want.
So we're going to go back tothe reason to buy a home.
(12:32):
The best reason to buy a homeis to create the lifestyle in
which you want to create foryourself, your family, your
spouse, whoever your family unitis.
That's the whole reason forhome ownership.
Home ownership, in my opinion,design the life in which you
want to create, and and so,putting yourself on hold or
(12:53):
being trapped, you feel, um, andwe're talking to folks that
have a 2.8% interest rate, thatabsolutely deplore their
neighbors, their house, theireverything, but they feel stuck
or trapped, as you said, becauseof this interest rate, and so
we had to.
We've been coming up like, okay, well, how can we get you on
(13:14):
trap?
Because that's what a goodsalesperson does Figures, you
know.
We figure out the way, the path.
And so for some of my listenersor your listeners out here, I
would encourage you, let's sitdown and do the math, cause one
thing that we've looked at is,with rent increasing as great as
it has, especially in NorthCarolina, a lot of times you can
(13:36):
rent your home and the delta,meaning the difference between
your payment at the 2.8% andwhat the current rate of rent is
going for, actually, that money, patrick, will offset the
interest rate difference.
And so if we look at, okay, well, in an ideal situation I would
(13:59):
pull the trigger and move toAsheville or move to, you know,
north Carolina If rates were at4.5%.
Whatever, we'll make up anumber Right.
Well, we take a look at whattheir rate is at the 2.8.
And we take a look at what, youknow, rent for that home could
be.
And what we're seeing is mostowners are looking at anywhere
(14:21):
between 750 to $1,200 a monthpositive cash flow, money above
what their mortgage obligationis.
And then if we take and let'sjust make math easy for radio,
let's just say that it's $1,000of that delta, and we take that
$1,000 and apply it to the newhome that the new home is
(14:44):
setting at 7.5%, guess what whenI take that $1,000, which, by
the way, my tenant is paying-not you right If that money is
coming from the tenant of houseone.
Speaker 2 (14:56):
And you're still paying that house one's bills.
Speaker 3 (15:00):
Yes, you are.
And actually and I want to makesure they got the right you,
the right you is your tenantactually is paying that, not you
.
The property owners are on thedeed, so it's actually a.
It's a twofold win.
I've got a tenant paying houseaid my primary home at the time.
(15:20):
They're paying a hundredpercent of my cost, plus I'm
getting a thousand dollars tothe good to apply to the home
that I really, really, reallywant to live in.
That's my dream, or it's thehouse that at least lets me
create the lifestyle.
And guess what, when I zero outthat thousand dollars
difference in price, it takes my, effectively my interest rate
from seven point five and itgets me right back to like four,
(15:43):
four and a quarter, four and ahalf, which is kind of my
tolerated rate that I'd bewilling to pay, and and so it's
a win win.
Not only is your tenant payingfor the entire cost of the first
out, they're actually paying asubstantial portion of the home
that you really want to be in.
So we?
(16:04):
And how do you come to theserealizations?
You got to have conversationswith you know real estate
professionals out here in yourmarket.
So it's Rowena and her teamhere in Asheville.
You talk to them and you learnthe math and you create the
clear path and it makes it um,it makes it super easy to have
the visual now.
It makes it super easy to seethat, hey, I actually could do
(16:27):
this and I am not trapped,patrick, in my house like I
thought I was big.
It's a big aha for a lot ofpeople it is a great aha.
Speaker 2 (16:37):
I love it.
You know you can.
You can capitalize on that lowrate.
You have still go to the placethat you want to be, because
you've just fallen out of lovefrom this.
You know this.
I'm sure it's a wonderfulproperty but, jason, then you
just go ahead and maybe longterm rent that and, uh, and it's
(17:01):
quite substantial thedifference in rents now.
So you're exactly right.
Thank you for bringing that toour, our listeners.
That's a great way of thinkingabout this.
You know there's problems thatyou, you run into and I guess,
what does the problem create asfar as pain wise, and when is
(17:23):
that pain so great that thatthen you have to make that call
to you know, I got to get out ofthis.
I hear it all the time.
It's just become painful and,and that being either taking
care of the yard, taking care ofthe home, maybe you've sort of
ran through a little bit of afinancial, uh, downfall and you
(17:46):
didn't have the money to replacethat roof and, lo and behold,
it started leaking.
Or maybe you've got a problemwith a retention wall.
Or, you know, maybe you got astinky ashtray and you're just
ready to get it out of it andmove on to a retirement facility
.
That's where this cpo programis so wonderful for folks, and
(18:09):
we've helped people inforeclosure.
It is a good feeling when youtake somebody.
That was so stressful a weekand a half ago.
You get them to the, to wherethey're paid off their debt,
which is a ton of bricks on them, so much though it gives them a
heart attack quite literally,and, uh, you know they can.
(18:30):
They're now free, they're freeof the burden, and so that's
what this wonderful cpo programhas been creating and I'm so
excited that Rowena is iscreated an opportunity for our
customers, our clients, to beable to win, and it.
It really is something that youknow.
(18:53):
As realtors, we really do careabout people and we take it home
with us and we, you know wesleep on it, and I know you want
to make sure that your clientsbuying a home getting a good
home, but you also want to makesure your seller is getting
everything they can for a homeand and and not going through a
burden.
You know it, it's not easylisting a home going in and out,
(19:16):
people coming in and out, butthen what people don't realize
is your 1970s and 80s furniturejust didn't appealing to what
this market might be trying tofind.
And you know, those blue andyellow walls, those just aren't
exactly what they're looking foreither.
And now they're starting to geta little bit of choice because
(19:38):
there there's a little bit ofproduct coming on the market a
little bit more here and there,and so there's starting to be a
little bit of a choice.
And homes are overpriced alittle bit right now because
people are sort of going througha little bit of a shock.
Where we're finding overpricedis in some of our areas is the
(19:58):
appraisals coming back.
But you know that's kind ofwashed out by a lot of folks
that are sitting on cash becausethey sold their house somewhere
else.
I've found that about 50percent of our market here is is
at least seniors, 55 and overpurchasing.
So this CPO program, man, hasbeen fantastic.
(20:21):
We're using it in so manydifferent ways and you know
there's the fizzbo for sale byowner CPO, there's relocation
CPO, there's a state CPO, momand dad have passed away.
You know Asheville.
The way it is for us here,jason, is people come here to
die and they might be 55 or 60and they spend 30, 40 years here
(20:46):
retired and they forgot moneyand they've taken care of their
places and they've kept thishome for their kids to be able
to have something to sell andhave a little bit of money.
Well, guess what?
The kids?
They don't want the home.
They're happy wherever they'reat.
They really don't want theproblem, right?
So maybe you take care of ofthat through, you know, letting
(21:10):
us go ahead and sell it for you,go through type of retirement,
cpo, and move on over toassisted living, so CPO, it's
just a fantastic way of of beingable to handle your home
without messing with all thestuff that's involved with
listing and selling your home.
The phone calls and thenrealizing that you know most
(21:32):
agents don't necessarily tellyou this, but a third of deals
fall out.
So then you're going throughthe process again and then it's
a stigmatized home.
Why did it fall out?
Speaker 3 (21:43):
you know right but your thoughts on this never oh,
where have you been this week?
Speaker 2 (21:50):
what has your team been able to capture?
What are some of yourexperience?
Experiences with the certifiedpre-owned home program?
Speaker 3 (21:59):
yeah, so I think let's, let's, let's start with
this, because not, we have a lotof new listeners all the time,
so let's talk about what is CPO.
So certified pre-empt,certified pre-owned is, in its
essence, is essentially we'regoing to get your home
pre-inspected to find out whatis right and wrong with the
property.
(22:19):
All right, we'll do a titlesearch on the property, make
sure there's no major titleissues, or these would be
typically what we find is thetitle issue was it was just a
clerical error, it was a mistakethat an attorney made.
It could be a mistake and ifyou refinanced your home or did
a home equity line of credit,perhaps the original mortgage
(22:42):
did not get closed out properly.
That in North Carolina createswhat we call a cloud on the
title, which can hinder you andwill hinder you from being able
to sell your home.
So we want to find these thingsout front.
We want to find out what iswrong, what is right, are there
any issues with the title?
And of course, we put a warrantyon the home that can transfer
(23:03):
to the owner, to the new owner,but really is to protect you,
the person that owns the house.
Now I call it Murphy's law,repellent Patrick, because it's
just life.
Anytime you decide to dosomething, oh, when Murphy shows
up and you know the hot waterheater in the house has been
fantastic the whole time youlive there and we put the house
(23:24):
on the market and of course, thefirst thing that happens is hot
water heater decides to stopworking, and so what we would do
is the warranty kick in and getthat replaced for you.
So getting the house certifiedalso gives the person buying the
house peace of mind.
It is, you know, statisticallyproven with every single product
(23:46):
under the sun, that when theconsumer has a clear
understanding as to what they'rebuying, whether it be perfect
or whether there'd be problemsonce they have a clear
understanding of what it is,they actually are willing to pay
more for the product by havingan education.
So it works with widgets, itworks with cars, it works with
(24:07):
real estate, and so the CP thatis the master role piece of the
certified preown is we'redisplaying to the consumer what
is going on with the house,which gives them confidence to
move forward.
Think about it Psychologicallyus as humans, when we're
uncertain at something and wereally don't know what we're
(24:28):
doing, our protection mechanismtypically is this term we'd like
to use called low ball.
I'm going to low ball Patrickon the offer because I don't
know if the car runs all thetime as he says it does.
I'm going to low ball Patrickon the offer because I don't
know.
I haven't been in the crawlspace, I haven't been in the
(24:51):
attic.
I feel like the heat is workingtoday, but did they do
something to patch the heatingand cooling system just for the
time in which they're showing it?
With the certified preown, weknow the answer to those
questions because we had thehome checked out, in the crawl
space in the attic, had theheating and cooling checked out,
and we give those reports andshare that data with the
(25:14):
consumer, which gives them aconfidence in knowing that a
third party checked this out andverified it and they feel good
about it.
So that is the essence of thatcertified preown.
And then we look at, you know,the four sub owner piece, the
assisted living piece and thosethings, and kind of dissect the
(25:35):
person, the audience and whatwe're talking to.
And the really cool thing aboutthis is connecting with our
investor group, which is wherethe real power of this comes in.
So we do this for our consumersall throughout the state of
North Carolina, us involved inthis program.
Well, we found an investor thatactually loved it and likes,
(25:58):
liked our program and liked thecertified preown process, and
just so happens that that isalso what they would do when
they purchased investmentproperty, which was a great
little marriage, if you will.
And so, fred, our investorsteps in, basically reviews our
certified preown system and thehouse, and then what?
(26:20):
What does he have fullconfidence to move forward.
And the amazing thing aboutthis particular investment
groups that we work with,patrick, is they make a full,
fair market price offer on thehouse.
Speaker 2 (26:34):
This isn't your typical full market value cash
offer.
I mean, that's incredible.
Speaker 3 (26:41):
Yes, and this is this is somebody that gets real
estate, gets the program, butalso gets real estate,
understands that there arethings that you can do to a home
to bring them in line withcurrent market conditions and
typically that does have to dowith the condition of the house
and it creates.
It creates equity, it creates a, it creates a, a sellable asset
(27:04):
that appeals to more people.
And when you have somethingthat appeals to more people,
well, typically the price doesgo go up.
And to your point, about the1970s in a home, not just the
furniture, but perhaps you know,the wallpaper, maybe not even
the seventies.
I mean we could get into theeighties.
(27:24):
I mean, if you have Ivy borderin your kitchen, we're probably
talking to you folks, these,these, you know if you're if you
have Berber carpet, yes, we aretalking to you, we can help,
because a lot of times I think alot of times pleasure we talk
to folks that they know that thehouse is dated, they know that
(27:47):
the house needs probably youknow, probably you know fresh
paint, carpet, countertops,these types of things to be in
contention to get top dollar.
But there's a risk associatedwith that and when you don't do
it every day, it just feels veryburdensome.
And they don't want to make amistake.
You know, if I, if I've livedin my home for 25 years and it
(28:10):
basically let's just say it'sexactly the way it was when I
bought it 25 years ago, I mean,look, I loved it 25 years ago
when I bought it, just as it was, it was my maybe dream house.
But I've I've not changedanything, even though I kind of
know I I should have.
What the conversation that wehear is I just don't want to
(28:33):
make a mistake, jason.
I don't want to make a mistake.
I don't want to choose thewrong paint color.
I don't want to.
You know, I don't want to.
I don't want to spend $10,000and put the wrong type of floor
covering down, whether it becarpet or whatever it is.
You know I don't have the moneyto correct that mistake If I
make the wrong decision.
That is the beauty of the CBOprogram and working with our
(28:55):
investor.
They do thousands of houses andthey have the data and they
know exactly what the consumeris looking for and they are
taking that risk going forwardnot you, the homeowner, which
feels um well, patrick, what wehear is it feels like a big
relief.
I don't know what you guys arehearing, but that's what we're
(29:16):
hearing.
Speaker 2 (29:17):
Oh, it's a big relief for our folks.
I've I've got one that reallyyou know they had, they actually
had gone that rental routebecause they do have that low
rate and they're over inCharlotte and um well, the home
just started.
You know it needed a hot waterheater, it needed this.
(29:38):
You know it became to wherethey weren't able to come by and
just visit and make sure thegrass was cut, kind of thing.
As a, as a renter, sometimesyou forget to break out the
lawnmower and cut your grass.
But you know, sometimes thatcall from the landlord hey
listen, the grass is kind oftall.
The neighbor called and you knowbut one any bugs or snakes in
(30:01):
her yard.
So, anyway, you know, you getthat grass cut for me, okay,
well, it doesn't happen.
Next thing, you know, you domake a drive by.
You come by, your house looksawful, you know, and it's like
all right, that's it, I'm justdone with this.
And that's sort of where theywere at.
Um, renting is not easy, sothat's the other flip there.
(30:23):
You know, yeah, you got thatgreat rate, but you also got to
deal with renters.
Um, maybe it's a good programfor you, maybe it works for a
little bit.
Well, what do you know?
They sort of they didn't trashthe place by any means, they
just didn't keep it up like ifyou owned the home.
So the, the pride of homeowners, the home ownership
wasn't there.
And, uh, although they weren't,you know, vicious to the home,
(30:49):
it still gets wear and tear.
And so you, you come back intothe home after the renters left
and it's like, goodness, let'scall Patrick.
So, sure enough, man, we gotthe.
Uh, we got a good offer.
The appraisal came back,actually over the offer, um and
uh, we went in there, we spentabout $10,000 just getting,
(31:12):
really removing a lot of stuffand, um, you know, painting a
little bit.
We got some siding up that wasuh had fallen and uh just really
just cleaned it up, cut down abunch of dead trees and fruit
trees that were not dead butlooked not right, and so uh
(31:33):
cleaned it up.
Man, this place looks beautifuland we just went on the market
yesterday and I've had fantasticvolume of uh scheduling's uh to
go out and see it.
So I'm excited about it.
Getting that one sold productsgoing quick.
It's a, it's a good program.
It's been really smooth for my,my sellers and you know, with
(31:54):
the Cpo We've been able to beupfront about everything the
appraisal, the inspection.
I have all that informationwhen I go to sell this house now
.
So it's like you know, here itis With the improvements and
everything.
This is where we price thehouse from top of this appraisal
(32:15):
and that's what we would liketo have for it and it makes for
just like what you said.
All the information is outthere.
We, as consumers, we we'vegotten more smart about what
we're buying too, and so thatyou know, there's a lot of
information on the internet thatprovides you with the ability
(32:35):
to research and Find out about aproperty.
So I Like to do videos, gothrough the home and do videos
and then upload those to YouTubeon these homes.
So that's been a big help.
You can actually walk throughthe home.
So as agents, I encourage themto do that to all their homes.
You wouldn't believe how manythat don't.
(32:56):
But the Cpo program isdefinitely a program not
necessarily for everybodybecause if you're upside down in
your home, maybe you got a,maybe you took another mortgage
out on it, so your second putyou on top and and sort of
floating heavy and maybe thatprogram doesn't work for you.
But maybe you don't oweanything on your home and you
(33:18):
just don't want to list it andyou don't want to do all this
fixing.
Listen, this program is perfectfor you.
Yeah, that's where you give usa telephone call Let us come out
, get something put together.
We'll do a full market valuecash offer and we can do that in
12 days.
Now, oftentimes I Try to get alittle bit more time in there
(33:43):
just to make sure that we're notrushing, but we've done it in
12 days.
We've gotten that appraisalback, we've gotten that
inspection back and Found outwhat's cooking with this house,
what does it need, and then wefully disclose it and it's.
It's been a Real nice benefitbecause what I'm able to do is
(34:03):
bring a home that might havebeen an ashtray May I had a
moisture problem in the basement, might have been some elevated
rate on, and I've now putsomething on the market that's
been cleaned up.
It's shined up really nice andFolks aren't moving into
something that's needing repair.
I don't ever do repair andthey're living in something
(34:25):
that's not, as you know, maybenot as nice as what we've
provided now.
So it's my experience with theCPO programs been great, not for
everybody, but boy has it beenhelping some folks that really
needed it, especially atforeclosure victim coming on.
Speaker 3 (34:42):
Oh, absolutely yes, sir, and you know, and there's
and to your point, you know,with the assisted living piece I
mean there's, there's folks inall of our communities that the
children are Well, let's, let'sput it this way, I mean, if
you're kind of consideringassisted living in your up in
those years, your kids probablyin any spring chickens either,
(35:04):
right, so you know, I mean theymay not.
I've actually sold homes wherethe owners, the parents, who
actually were still in reallygood condition and health, they
were moving to a Community inwhich they could get some help
and their children actuallyphysically and all that were in
(35:25):
worse shape than they were, andso they couldn't help them with
certain things that that we canstep in and assist with and
helping them with thattransition.
The other thing too is is thisis a big one is fear.
You know life happens and youknow when you, when you're going
(35:47):
through something, you need anadvocate and you need somebody
on your side.
And that's where I believe aProfessional real estate you
know I'm not gonna categorizeevery real estate in that, I'm
talking about the trueprofessional real estate in the
state, in the industry.
That's where they can reallystep up and give you guidance
(36:11):
and help you through thosesituations In with the CPO
Program that really does do allthe heavy lifting for you so
that you can Move on to the nextstep of your life.
Whatever that may be, and, andlet's face it, when you're in
fear of you know the bank ishounding you for a mortgage
(36:32):
payment, what I find istypically the house is the last
thing that people stop paying,so you may already be just worn
out, weary and tired from allthe other creditors to credit
card companies.
Maybe the car payment is, youknow, the guy with the car is is
, you know, beating on you andhopefully have it.
(36:54):
Maybe they've alreadyrepossessed the car and you just
find yourself in this, in thisstate of Uncertainty, and a lot
of folks go into hibernation.
A lot of folks just put theirhead in the sand and Hide and
hope that these things go away.
And they don't, and myexperience vote and they won't
(37:15):
and they're not going to andthere's, it just is life and
it's Won't even get into thefair and unfair pieces of all
these things.
But look, it's happening and andmost of the time, what you need
is just some strong shouldersto stand up on.
That's where a solid realestate professional can help,
(37:36):
that has systems and tools likethe CPO process and like a large
, you know, database ofinvestors.
To that typically, at thatpoint with this particular
program, is what you're going toneed.
You're going to need somebodythat can move relatively quickly
Because we're facing a timeclock.
You know, if you don't do X bycertain time, I mean ultimately
(38:00):
guys, the bank is going to cometake the house I mean it is
their collateral, it is going tohappen and a lot of times with
our investors, you know, we canalso assist with the moving
piece, whether you know whetherit be in the CPO process, but we
have, you know, we have otherprograms and I know Rowena does
(38:20):
too when there's, there'sinvestors out there that can
help you.
Maybe it's just a few thousanddollars to get you to the next
place, whatever you know,whatever that looks like, and so
there's options out there asopposed to just Doing nothing.
The other thing is a lot oftimes we find that people have a
lot of equity still in theirhome.
(38:41):
Just because you're buyingunder payments Doesn't mean you
don't have equity in your house.
It's your money, that's right.
I actually purchased a homemyself at a foreclosure auction.
So a foreclosure auction meansyou don't get to go to the house
and look at it Before you buyit.
In North Carolina that's calledtrespassing.
Okay, because the bank doesn'ttechnically own it yet, but they
(39:04):
are gonna own it at the fore.
After the foreclosure IPurchased a home that was being
foreclosed on.
You know, just don't reallygive you a lot of details, just
here's the auction date.
Right, patrick, you show up,you take your bid and that's
that, and so I wanted to bid.
Turns out, the folks there wasno mortgage on this house,
patrick, the HOA foreclosed.
(39:26):
These people lost their homefor thirty eight hundred dollars
I know that is what they werebehind in their HOA dues and so
not only okay, so we got thehome.
They're living in the housestill, really not knowing what's
going on.
And the great thing in NorthCarolina is we paid, obviously
(39:47):
Considerably more than thirtyeight hundred dollars for the
house.
We paid hundreds of thousandsof dollars.
They were still entitled tothat money, and so we were able
to Help them go to the clerk,the court, be able to claim the
money that was rightfully theirs, and they were able to get that
money and move into a propertythat fit the lifestyle at that
(40:10):
time.
I Say that that, though you, ifthey would have reached out to
us ahead of time, we could haveavoid a lot of the fees, or they
could have with it a lot of thefees that the bank put in there
.
Had they just reached out to us, we could have purchased the
home prior to the foreclosure,which would have gave them, you
know, more money, because wedon't have attorneys involved in
(40:32):
all those things at that time.
So, guys, if you're facingsomething like that, you know
these programs that we have,whether it be, you know, the Cpo
for so, by owner, the assistedliving, whatever the case may be
, or you just simply want toSell your home without the
hassle of strangers walk intoyour house.
(40:53):
I mean, patrick, have you everhad a dinner party?
And, just like, mailed outinvitations to random people and
just said hey.
Come eat with us.
Like who does that?
Speaker 2 (41:03):
right right.
Speaker 3 (41:05):
But that's, but that's what we do when we sell
our home.
We just say, hey, um strangercome walk through my house and
check it out.
Yeah that's not for everybody.
It's not for everybody.
Speaker 2 (41:17):
That's right, that's right.
Speaker 3 (41:18):
Jason, thank you for bringing that up.
Speaker 2 (41:20):
That you know it's, it's Really is not for everybody
.
And and that's what I hear whenI come in the photo what well
do you have somebody?
It might just go ahead and buyit and we don't have to go
through that listing.
Well, yeah, I do have somepocket buyers, but you know it's
, it's often not that full cash,that full.
(41:43):
You know market value, cashoffer and that's what this Cpo
program provides and and so onceyou sell your home, you get to
keep all the upside and you know, traditionally Well, with this
program two-thirds of thesellers make more than they
would have on the traditionalhome sales.
(42:04):
So you don't have to go throughthe headaches of repair,
renegotiation and showings andand dealing with the listing,
you know.
And the agent doesn't have tocome and Sort of waddle through
your stuff.
Because I'll be honest with youand and and I might fall in
this category a bit myself andsome points and times in my life
(42:25):
I've purged a little bit nowbut Sometimes you got a lot of
stuff and walking people throughall your oh man, yeah, and then
it becomes a game of and I'vedone it a hundred times Nobody's
looking at the house, they'relooking at all this stuff?
How do they have all this stuff?
You know, wow, look at that,that's from the 70s.
(42:47):
Oh, I haven't seen a console TVlike that in forever.
Anyway, I'm just saying, Well,yeah, that's right.
Speaker 3 (42:56):
Well, you think about why do people move?
I mean, most people movebecause a lot of times they're
out of space.
So when they come, look at yourhome and it's crammed, you know
your house probably is actuallyperfectly.
You know it's perfect for them.
They probably wouldn't haveshowed up based upon some of the
data that they gathered.
But when they come in there andit's packed floor to ceiling
(43:16):
and every single closet, they'relike oh, we can't buy this out.
They don't have any storageeither.
We need a bigger house, becausewe would need what?
Speaker 2 (43:22):
more storage.
Yeah, and the pictures paintedfor you don't even have a chance
.
So with the CPO program, youknow you clear your stuff on out
of there.
Maybe we freshen it up.
Maybe we take that white carpetfor some reason here in in
Western Asheville, northCarolina, western North Carolina
the 80s were big time on whitecarpet, which you know.
(43:44):
I drink red wine a good bit,Randy, you know White wine.
You probably get away with it.
The two don't mix the two don'tmix white carpet and red wine
and red wine don't go together,but anyway the white marbles
also tough for the the red wine,but I'll deal with that because
I love, I love white.
Speaker 3 (44:07):
Yeah, another point I'll bring out.
If you had white carpetinstalled in the 80s, folks,
let's just be real, it ain'twhite anymore.
No, I mean it just.
Speaker 2 (44:17):
The corners are nice and brown yeah.
Speaker 3 (44:22):
Unless you can levitate over the carpet.
No, no.
But how about?
How about kids and pets,patrick?
I mean, I Mean I I feel For theyoung moms when we sell their
home, because I'm looking at, Iknow what my life was like when
my girls Were small and not evenselling home.
(44:42):
I mean.
You know you it's.
It's just a miracle thateverybody is still living,
getting ready for the showing,but I probably throw up the item
.
Speaker 2 (44:53):
Wherever we got a item, all right, you pile your
three kids and your three dogsin the car and you just spent
two and a half hours Shiningthis place up.
You are wore out and now yougot to listen to crying babies
going down the road.
I've been there.
Speaker 3 (45:08):
Oh, absolutely yeah or or I mean it, we get, we get
these calls.
It'd be like, oh, I can't do it.
I mean I got the kids in those,how?
I mean I got the kids andeverything picked up and then
the Dog don't throw up all overthe place.
It's like I'm done.
I can't do this anymore.
Stop the madness.
Right, and in the past yearsit's been maybe not quite, as
(45:29):
it's always a little crazy, butyou know the houses haven't been
on the market that long.
But wait, let's go back to like.
Let's go back to the fun times2013, 14 and 15 when your house
was on the market for ninemonths and you never even knew
when the shelling was going tohappen.
And you, you went 20 dayswithout a showing and all of a
sudden, patrick calls you.
(45:50):
You got somebody coming in fromIowa that you know.
Whatever, they sold their housefinally as well, they want to
see it.
You're like, oh my god.
I'm not ready and that stress,and so that's what you can avoid
and that's the beautiful thingabout all these different, you
(46:11):
know, types of the certified,pre-owned variant, if you will,
these variants that we have onthe program.
It's really how about this oneshowing One time?
Speaker 2 (46:22):
walk through the house and that's Patrick a a
Walking through your home andsaying, yeah, this, this place,
will qualify just fine for a CPO.
Speaker 3 (46:34):
Exactly well, you know the new home one closing.
Speaker 2 (46:37):
Yeah, the new home program is pretty cool too If
you think about it this way.
You know, you've got an offerin your pocket and in although
Patrick wants you to do it rightnow this thing sort of sitting
around there a minute.
Now the market might fluctuate,that offer might be a little
bit different, the praise willmight change in six months, but
it's still there.
So let's say, for instance,you're building a new home and
(47:00):
you know, you just, you don'twant to deal with showings.
You got your life, you're overhere building this new home, and
then it comes up to where youknow you need to go ahead and
get it sold.
Well, you get it on the marketfor a week or so, nothing
happens.
You got this CPO offer in theback pocket.
Boom, you cash in, you get yourmoney, you go ahead and get
(47:20):
your new home, you move on overthere and and and, then let us
finish it up if it needs someshining.
And then you know you get toprove, you know, participate in
the the win, and you keep allthe upside.
You keep the waterfall.
After we've cleaned it up, weput it back on the market.
(47:42):
Yeah, man, this is a greatprogram to where you don't have
to deal with a lot of theunnecessary I don't know actions
that we go through, but youalso know exactly what your
home's worth.
You've gotten an inspection andlet's just say it didn't work
out.
Your arms with information andyou can go back to the market
(48:06):
with a traditional cell.
You know, maybe you realizedafter talking to us that you
know what you guys.
We can pull all the furnitureon out of here.
We can, paint these walls, wecan, but do you really want to
do that?
No, right?
So yeah, go ahead andparticipate in this program.
Let us do all the busy work andall the hard work right, Jason.
Speaker 3 (48:27):
That's right and that's a valuable thing you just
you just said, because a lot oftimes if you deal with a lot,
of, a lot of investors out herein the world, they'll put your
house under contract, they'll dotheir due diligence and then
they say, oh, it doesn't workand they walk away.
You've got nothing.
Nothing with the CPO program,if the investor decides, okay,
maybe the math just doesn't work, for whatever reason, you know,
(48:50):
whatever just it could be any.
It just the start of movedidn't align.
Hey, guess what?
They're gonna give you theappraisal, they're gonna give
you the home inspection, they'regonna give you these, these and
this investigation work thatthey did.
That's thousands of dollars ofvalue that you have.
That you at no cost.
That's so.
That's a huge incentive.
(49:11):
And then to my point, if youdid re-enter the market, you're
armed with information in whichPerhaps didn't work for one
investor a bit, maybe works forJohn and Mary that are deciding
to move in and they're notconcerned about this and that
and they're gonna do the elbowgrease themselves or whatever.
So there's, there's still valuein Getting the data, getting
(49:34):
the information.
Speaker 2 (49:35):
That's right, man, that's right, you know, and I've
found that it's.
It brings up a big conversationwithin the family too, because
then they're they're able totalk about well, well, maybe we
do do this, we can, we can makeour move.
We're gonna have 20% after thisto put down on this other home
that I really want, and sothat's.
(49:56):
You know, I don't know.
I've, I've found ways to beable to use this program and
it's opened my mind to Reallybeing able to have something to
help people, and that's what Idig.
Man, this is the first programthat I've run across.
That's not a 50% offer and then,you know, minus out the repairs
(50:17):
, it's not a 70% offer and thenminus out the repairs.
This is an offer that's a fullmarket value cash offer and you
get to participate in theupsides of it.
So, if everything goes to planand works perfectly, a lot of
times you've got value therethat you know you wouldn't have
(50:39):
gotten otherwise.
So you can also participate inour tunnels, the towers program,
and you can donate that moneyto veterans, that money being
the windfall, the waterfall partof this, the upside of the cell
of the home, once we, we get itfixed for you and clean it up
and, and so that's a anotherprogram that we participate in
(51:02):
to help our veterans out there.
And you know they go and takethat money and they pay off
wounded warriors Mortgages.
They come in and put new roofson houses of retired veterans
that have sort of gone into abad place.
So cash CPO options arephenomenal.
(51:25):
Jason, I want to thank you somuch today for coming on and
your expertise and just knowingyour market there and Raleigh,
but just knowing North Carolinaas a whole and being a
Participant in this greatprogram, I'm just thrilled and
honored to have you on the show.
Thank you so much, jason.
If somebody were moving toRaleigh, how would they get in
(51:47):
touch with you?
What's the name of all yourfirm and your folks?
Speaker 3 (51:52):
Yeah, so I'll make it really easy.
I'm a hard guy to find.
Just go Google Jason Bramble,how about that?
And we should be coming up yeahthere's there's two Jason
Bramble.
They're gonna show up.
One lives in Nashville as acountry singer.
I'm not him, I'm the other guy?
How about that the other guy?
That's anything to do with realestate.
(52:13):
We can help you pretty much Allthe Raleigh, the triangle area,
the triad area, some Greensboro, winston-salem, high Point as
well 30 something counties inthe state of North Carolina that
we cover.
We can certainly assist youwith relocation.
Or if you want to get moreinformation about the CPO, or if
you you know you can also reachme.
If you can't get in touch withRowena Patrick for whatever
(52:35):
reason, just reach out so we'llconnect you guys.
We we will be happy to sharethe information to get you
connected with them as well.
Speaker 2 (52:43):
That's great, jason Bramlett BRAMB.
Let just Google on me, you canfind them.
Folks, everybody I want tothank you for listening today.
Randy, my producer, thank youfor always holding my hand.
And hey, listen, folks, reachout there to somebody you hadn't
talked to in a while.
Go Ahead and reach out to thatfriend you hadn't talked to.
(53:03):
Maybe it's been ten years.
You just tell them hey, I ranacross your phone number, was
thinking about you.
This is a time when we all needthat touch you guys.
So reach out to that familymember.
Maybe y'all had a little bit ofa fight or something.
Just call them today.
Today's a beautiful day.
Reach out to your friends.
Thank you very much, patrick,here filling in for Rowena
(53:23):
Patton and all-star powerhousein Asheville, north Carolina.
Speaker 1 (53:46):
This has been the plain English real estate show
with Rowena Patton.
Visit Rowena and post yourquestions at radioashvillecom or
call her at 828-210-1648.
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