February 1, 2025 • 53 mins
What if the cherished possessions of a lifetime become barriers to a happier future? Join me, Rowena Patton, as I share personal stories and solutions for seniors transitioning to assisted or independent living. We'll navigate the emotional and financial complexities of downsizing, from treasured mementos to homes that hold decades of memories. Discover how strategies like reverse mortgages or my cash CPO offer can alleviate stress and provide financial flexibility, while understanding the urgency created by community waitlists and family gatherings.
Get ready for an insightful update on the Western North Carolina real estate market, where price cuts are painting a picture of an evolving buyer's landscape. As spring approaches, we'll explore how homeowners in key areas around Asheville can stay ahead of market shifts and seize opportunities before the cycle changes. Learn why timing is everything and how to avoid the pitfalls of chasing the market down, armed with a deeper understanding of economic trends and the critical role they play in selling strategies.
Transform your property into a top contender in a competitive market with expert advice on home upgrades and remodeling. From selecting premium materials like granite countertops to financing renovations with no upfront costs, I'll share tactics that can significantly boost your home's value. Whether you're prepping for a sale or adapting a home for senior living, these insights will guide you in making informed decisions. I'll also offer tips from my extensive remodeling experience to help you avoid common pitfalls and connect with reliable contractors, ensuring your home projects are executed flawlessly.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
This is the Plain English Real Estate Show with
your host, Rowena Patton, a showthat focuses on the real estate
market in terms you can easilyunderstand.
Call Rowena now.
The number is 240-9962 or1-800-570-9962.
Now here's the English girl inthe mountains, the agent that I
would trust.
Speaker 2 (00:20):
Rowena Patton.
Hey, sean Hannity here talkingwith the only real estate agent
in your market.
I recommend Rowena Patton withAll Star Powerhouse.
What kind of programs do youoffer?
Speaker 3 (00:33):
You know, sean.
Thank you for that question.
Have you heard of the cash CPOoffer?
Lots of people just don't wantto go through that hassle of
preparing their home or anythingelse.
This brings you a cash offerfull market cash offer right
away and you don't have to gothrough those showings.
Of course, if you want any ofus to do a traditional
(00:55):
old-fashioned listing, we'remore than happy to do.
That.
Certainly is worth your whilechecking out this offer up front
and then you take away all thehassle.
Speaker 2 (01:05):
Great update.
Thank you for keeping usinformed.
Call Rowena Patton right now at828-333-4483, or online at
mountainhomehuntcom.
That's mountainhomehuntcom andyou can start packing.
Speaker 3 (01:22):
Well, thank you for that great introduction, sean,
and congratulations on yourrecent engagement over Christmas
.
Welcome to the Real Estate NewsRadio Show.
I'm Rowena Patton, your friendin real estate, and today we're
diving into something of acrucial topic helping seniors
(01:42):
transition into assisted orindependent living with
confidence and financialsecurity Gosh, that last one's a
kicker right and also, ofcourse, helping families as well
.
We all know that downsizing, orright-sizing as I like to call
it, and moving into seniorliving can be stressful, not
just for seniors but theirfamilies too.
Senior living can be stressful,not just for seniors but their
(02:03):
families too.
And you know it's not juststressful when we're talking
about senior living.
Any kind of move is stressful.
(02:37):
I've done it myself many times,way too many times.
I moved from the UK in 1996.
I moved to Washington DC andthen a brief stint in Los
Angeles and then down to MiamiBeach, actually back to DC, and
then.
So maybe I didn't have quite somuch stuff, although when I
came across from the UK I madethe poor decision to ship lots
of sofas and chairs and stuffand things across from the UK
(02:59):
and I had no idea what kind ofjourney that was going to be.
It was all crated up and sentacross to Annapolis Some very
good friends of mine.
We got a U-Haul and went toAnnapolis and tied in some crab
eating on the way, which made itfun.
But oh my gosh, when I saw thecrate and what it took to get
(03:19):
that crate open and everythingout, and the amount of money
that I spent to ship all of thatstuff across and then have it
in a house in DC, it just itdidn't make sense.
I wish I'd known that before Idid it.
Of course, and one of the mainthings for me is I was taking
all my memories with me.
So all my grandma's old littleChina things half of them were
(03:41):
broken, broken.
I had that little cottage setthat she had and these days I
realized that she was sitting upthere saying what on earth up
there in the sky that would beshe'd passed at that time.
She was sitting up there sayingwhat on earth are you doing,
taking all that stuff and thingsand my broken china with you?
(04:03):
Let it go, girl, go live yourlife, and I wish I'd known that
at the time.
It would have saved me a lot.
I know a lot of people who aremoving themselves, are thinking
about selling their home, movingon to somewhere else the next
chapter, whatever that lookslike are struggling with that.
You know, really strugglingwith how to let go of those
(04:25):
things.
I get it.
So back to the seniors.
Many of them are only offered70% or less.
I heard of one recently thatwas 50% of their home's value.
It's usually throughinvestor-based solutions.
What does that mean?
There are investors out there.
I can find you plenty that willgive you 50 or 60% for your
(04:45):
home and, believe it or not, alot of people do that because
they just don't know what elseto do and they don't want to go
through the stress of selling ahome.
They don't want to sign outside.
Maybe they need the moneyreally quickly.
There are other ways you can doit.
(05:06):
So the reason in the senior casethat many of the seniors have
been jumping on this in the pastbefore our offer that gives
over two-thirds of seniors moremoney, or anybody else, for that
matter, that wants to use thisproduct and it's often because a
lot of these communities havelong, long wait lists and once
your spot comes up, you're luckyif you get two weeks.
Honestly, you have to jump onit Now.
(05:27):
People are also doing reversemortgages because of this,
because the vast majority ofseniors hey, let's be honest,
the vast majority of most of ushave the majority of our money
locked up in our house.
So what happens is, you know,you've probably for years been
thinking about senior living.
Or if you're the kids, the 50,60, 70 year old kids of the
(05:50):
senior that you're helping,you're probably going on tours
of these communities for years.
It's kind of like moving toanother city.
You know you might not moveright away.
You might book a visit for thespring.
You know lots of people arecoming to Asheville in the
mountains and spring to justtake a look around and see
whether they want that secondhome in Asheville or want to
(06:14):
move to Asheville.
That's happening all over thecountry.
So you've probably done yourresearch for the senior living
communities for years.
Finally, you make the decision.
That usually comes or notalways, but it's much more
likely to come after a holiday.
Why?
Because everybody sits aroundat Hanukkah, at Christmas, at
(06:40):
spring break, at Easter, at July4th Think of all those holidays
when the family gets togetherand maybe the senior person in
your family can't make it.
Maybe you go to the seniorperson in your family and you
realize that you've had years offlying in or driving in or
(07:02):
being there at one o'clock inthe morning to help out.
And obviously, as we get older,more things tend to happen.
I know 30 year olds who say,well, I'm getting old because
their knees are hurting right.
So as you get older it's just anatural progression of life
More things tend to go wrongwith your body.
So often the case for goinginto a community is triggered by
(07:28):
an accident.
Maybe your senior has a fall,maybe they pull a knee out or a
hip out or something like that.
That's usually what triggers it.
So everybody then gets togetherat the holidays and says mom,
you know what?
I really want you to thinkabout this.
It could be really fun for you.
You're not going to be sittinghome alone anymore, I'm not
(07:48):
going to be worrying about youso much, and it's just something
I want you to take a look at.
Speaker 2 (07:56):
Hey, sean Hannity here talking with the only real
estate agent in your market.
I recommend Rowena Patton withAll Star Powerhouse.
What kind of programs do youoffer?
Speaker 3 (08:07):
You know, sean.
Thank you for that question.
Have you heard of the cash CPOoffer?
Lots of people just don't wantto go through that hassle of
preparing their home or anythingelse.
This brings you a cash offerfull market cash offer right
away and you don't have to gothrough those showings.
Of course, if you want any ofus to do a traditional
(08:29):
old-fashioned listing, we'remore than happy to do.
That certainly is worth yourwhile checking out this offer up
front and then you take awayall the hassle.
Speaker 2 (08:39):
great update.
Thank you for keeping usinformed.
Call Rowena Patton right now at828-333-4483, or online at
mountainhomehuntcom.
That's mountainhomehuntcom andyou can start packing.
Speaker 3 (08:55):
Thanks, Short and you know we even have the services
whereby we can help you withthat packing.
So now the family's gottentogether and the decision has
been made and we go to theparticular community.
We want to go in and realizethat they have a year-long wait
list.
Well, how can you sell yourhouse when there's a year-long
(09:17):
wait list and there's noguarantees that it's going to be
a year?
The sad fact is that the reasonan opportunity comes up in a
community is because somebodypasses and although the
insurance underwriters will tellyou they know exactly what day
we're going to go to the pearlygates on that, we can't
(09:38):
determine exactly when thatdate's going to be.
So, as the senior, you're onthat wait list and finally it's
going to come up.
But how do you know when that'sgoing to be?
Are you going to risk listingyour house a month before that
spot is supposed to come up?
What happens if you sell it?
It's just a very, very difficulttransition done in the
(10:02):
traditional way.
Anything that's time bound.
In real estate, it can be verydifficult.
What do I mean by time bound?
Maybe you want to move to adifferent part of the country,
maybe you want to move down thestreet, but you've got a
deadline on that.
You start a new job or you wantto be by the grandkids and you
want it now, darn it, becausethey're getting bigger, or
(10:25):
anything that's time bound canbe very, very difficult because,
A you don't know when your homeis going to sell and, b that
deadline may shift.
Here's another example whenyou're building a home, it's
notorious for those dates toshift.
When you're building a home andthe it's notorious for those
dates to shift when you'rebuilding a home, why?
Because of the weather, becauseof materials coming in all
(10:47):
kinds of things can happen.
Maybe there's a port that'sheld up and the materials can't
get in.
Maybe the materials havedoubled in price all kinds of
things can happen that push outthat date.
Maybe the builder has astaffing shortage, maybe they
can't get the workers in orthey've lost a crew or something
(11:08):
like that.
So how do you know when to sellyour home?
Well, through this program,through the cash GPO, whether
you're moving into senior livingor building a home or anything
else, that takes all that timepressure off the table and we're
going to go into exactly how itworks as well.
The thing that worries me withseniors is we're at the end of
(11:31):
our life.
On average, a senior and thisis a hard one to hear a senior
lives in a community for 29months.
That's when they use ourprogram.
It's 25 months when they don't,because it takes that much
longer to sell their home andthey're going through three,
four, five months of stressselling the home as they clear
(11:52):
things out and then just thestress of people coming into the
home and a sign outside and alockbox and the realtors coming
in.
Especially when you're up therein years.
It's not so much fun to jump upit.
Quite frankly, it's not fun forany of us to jump up and get
out of our homes and keep itshow ready all the time and
remember we're going after thatwaitlist spot with now you know
(12:14):
you can imagine what that feelslike.
So it's even more important asthe market shifts towards a
buyer's market.
What's a buyer's market?
I wanted to give you a quickupdate on the market in Western
North Carolina.
I like to use price cuts.
Why do I like to use price cuts?
(12:35):
Because they are a leadingindicator.
It's a bit late when youfinally see that prices are
going down to then think aboutputting your house on the market
.
Of course, it's never a badtime to put your house on the
market, but sometimes it getsharder.
It's better to look out now andwatch the market and look for
(12:55):
those indicators that have yousaying maybe we are in for a
decline.
So here's some numbers for you.
I'm going for the red ones onthe map and, by the way, I can
do this for anywhere in thecountry.
I've got hundreds of thousandsof data points on every zip code
there is and it shows all kindsof different data, from home
(13:18):
price forecasts to whetherthey're overvalued or not, cap
rate.
That's something that peoplewho are investors use Population
growth, price cuts.
So it's looking at lots ofdifferent factors, but the price
cut one is easy.
That means that if you're inAsheville right now, there are
more price cuts than usual onthe listings.
(13:38):
Right now there are more pricecuts than usual on the listings.
You can make your own thinkingabout what that means.
I mean you can make up your ownresult or conclusion from that.
So here we are in 28748, forexample.
That's west of Asheville,that's in the red zone, with a
(13:59):
quarter of the listings having aprice cut.
Now, where these areas aresmaller, 28748 is a pretty big
zip code where these areas aresmaller or there aren't many
listings.
That gives you a smaller datapoint, but this one's pretty big
one.
And then we've got 28701, whichis kind of wood fin, and just
to the north a little bit, 25%,another quarter of the listings.
(14:21):
Now that's more than it wasbefore.
That's gone up.
More people I would say to that,more people are saying you know
what?
I think the market's having acorrection, therefore, which is
very smart, by the way.
We're going to get ahead of itnow and get our home sold,
especially as the point in timewe're at, we're about a month to
(14:45):
two months ahead of that busierspring market.
Now, whether it's going to beas busy as last year or busier,
we don't know yet because we'renot there.
We can predict anything, butlook at the predictions for the
election.
They get those wrong too.
So and these are obviously onsmall numbers, so you just don't
know where it's going.
But you can say that generally,more people in 28748, which is
(15:11):
that west side of Asheville,northwest of Asheville more
people there are more concernedor suddenly need to move more
urgently.
So a quarter of them have pricecuts.
I've seen the number muchhigher than that too.
And then we go over to west ofthat 28721 maybe people are
looking at what's next door.
(15:31):
That's got Clyde at the bottom.
That's nearly 20%.
So one in five of the listingshave a price cut.
Again, that's up more thanusual.
Waynesville is another one, sothat's nearly 23% in terms of
price cuts.
So again, that's almost aquarter of them, and I'd advise
(15:51):
anybody that needs to get theirhome sold get out in front of
this.
That's how you do it.
Another one on here MaggieValley.
That's fairly high as well, at21%.
There's lots of bluer areas aswell 28806, 20%.
That's the number of price cutsover the number of listings
(16:12):
that are out there.
28805, that's East Asheville.
That's at about 20%.
Black Mountain is about 19% interms of the listings that have
price cuts.
So if you need to get it sold,guys, get out ahead of it.
Don't wait for the springmarket.
There'll be more homes comingon the market.
You don't want to be what wecall chasing the market down.
(16:35):
It's absolutely not where youwant to be.
We've been a seller's market forquite some years, one of the
longest stretches in history,actually Economic cycle, clément
Juglar.
You've all heard me say it amillion times.
Clément Juglar, frencheconomist, in 1860, set the
nature of the economic cycle.
(16:58):
So it goes up, it comes down.
It goes up, it comes down.
Think about those stock marketcycles that you see.
The cycle is 7 to 11 years Inmost markets.
All over the USA we havecrested and we're starting to
see prices coming down.
There are a few markets wherethat's not happening.
That's a whole other show foranother day.
But in most markets prices areeither stabilized or they're
(17:21):
coming down.
Now why is that important ifyou've got something that's time
bound?
Here's why Because a buyer'smarket is where the power is in
the hands of the buyer.
There's more homes coming onthe market, so it's just a basic
principle of supply and demand.
When there are more homes onthe market, they're going to be
(17:43):
less expensive.
I know I'm not shocking anybodythere by saying that they're
going to be less expensive.
And the buyers, naturally, aregoing to go for the newest,
shiniest home, the one with theleast problems, the one where
they feel they're getting themost bang for the buck.
And of course, it's got to meetthe other criteria.
(18:06):
It's got to be in theneighborhood.
They want the school district,they want the area they want,
the village, the town, the city.
They want how many far blocksback from the beach that they
want.
However, because there's morehomes coming on the market,
there are usually more than justyour home to choose from.
That's what drives prices down,because if you've got three
(18:28):
homes to choose from before, youknow we had very few homes on
the market when it was a sellerwhat we call a seller's market,
which has been four years.
That's why we're getting allthose multiple offers.
Two or three years ago yes,it's really that long ago.
Can you believe that?
So as we shift and and there ismore choice in homes there,
naturally any buyer would choosea home.
(18:49):
Unless they're trying to make aprofit on it, they're an
investor and maybe they want toflip it they're going to choose
the home that's the best, thatbest bang for the buck, as long
as it meets the other criteria.
That is on their must-have list.
You know where it's at schooldistrict, everything we just
went through.
So most markets now are takingtwo or three months to sell on
(19:12):
average.
So not only that, this increaseswhen the home is not the
shiniest, newest thing on themarket or it's not easy to show
or it's not kept in show-readycondition.
I've had sellers before anyagent that's done a lot of real
(19:33):
estate transactions, has helpeda lot of families, has had
examples of where the seller iscancelling the showing at the
last minute.
You know it's sort of difficultto get in and if you can't get
in and see it you can't sell itright.
So you know, if it's hard toshow, if it's not the shiniest,
newest thing and it's not stagedright, if you don't have a very
(19:55):
experienced agent behind you,right, if you don't have a very
experienced agent behind you,certainly in a flat and
declining, declining market andthis is not the market to do for
sale by owner in.
I've had it give it a go.
However, you're certainly notgoing to do that.
If you're, you know time boundand you want to grab that spot
in senior living, it wouldn't bethe the best advice in that
(20:16):
scenario, obviously.
So commonly a senior's home maybe somewhat dated.
It may be built in 1980.
They may have been there, canyou believe, from 1980, that'd
be 45 years.
Isn't that incredible?
For those of us who are alittle bit older and not 19
anymore, the fact that 1980 is45 years ago is quite something
(20:41):
if it's built in 1980, you mayhave for my countertops.
Nobody wants for my countertopsanymore.
Sorry, it's hard to hear ifyou've got for my countertops
and I can hear you as a sellersaying, oh for my countertops,
I've done, it's just great.
Yes, you can't put hot pots onthem, but all you need is a
trivet to put that hot pot on.
It's not that hard and they'rebeautiful.
(21:02):
Look at them.
They're great, absolutely.
But here's the thing For asmall investment and with this
program we do all of that foryou If I go into a home for my
countertops and you need to sellit fast and you want to make a
bit more money for it, right?
So if I go into a neighborhoodand I see that we've got homes
(21:26):
that are selling at $500,000,$600,000 and they have granite
or quartz even granite hasbecome dated now Can you believe
that A lot of people arelooking for quartz for all kinds
of reasons?
Actually, it's a whole othershow too.
I've done a whole show on that.
So if I'm going into a home, asenior home and it's got formica
(21:46):
, I am going to advise to switchthose out.
That sounds horrendous, right?
Well, guess what?
If you're not in the home, youdon't have to deal with it at
all.
But it could easily make notonly a fifty thousand dollar,
twenty five thousand dollardifference on the sale of your
home and it's a three to fivethousand dollar investment,
(22:06):
depending on what we choose, howbig the calendar.
Obviously there's a bigvariance there.
But for five grand we can maketen, twenty, thirty, forty,
fifty more.
Why?
Because you are now competingagainst other homes and they're
going to choose that home nextdoor.
It may be another $20,000, butremember, most people are
(22:29):
getting a mortgage.
If you're getting a mortgageand the fact that it's $570,000
instead of $550,000 and it's gotnew countertops and an upgraded
kitchen that just maybe youknow white painted cabinets with
nice hardware on and europeanhinges with a soft close, so an
average size kitchen.
And, by the way, I've got allthe contractors anywhere in the
(22:52):
country to help you with this.
So if you're just thinking ofselling your home, you maybe
you're not a senior, maybe youare a senior, it doesn't matter
and you're thinking of doingyour home.
Maybe you're not a senior,maybe you are a senior, it
doesn't matter and you'rethinking of doing some upgrades
and you want to do all of thisyourself.
We'll help you with thecontractors.
We've got the contractors to dothis anywhere in the country,
so I always like to err on theside of not being conservative
(23:12):
when I'm estimating things.
Write down $5,000 for you,granite.
If you're in a tiny kitchen ina condo or something like that,
it's not going to be that much.
It might be $2,000.
Just write down $5,000.
That gives you a big choicevariance.
And then I want you to get withyour real estate agent and look
at whether there's a variancein the price of homes.
(23:34):
If you're in a condo, that canget very tricky because a condo
or you know many of the condosare the same.
You've got three choices in thecondo building and that tends
to keep prices, not always, butmost often tends to keep prices
not flat, but within a tightvariance.
In other words, if you sell acondo for $350,000, it's hard to
(23:58):
get $450,000 for a condo that'supgraded.
Does that make sense?
Because you could go in andupgrade it for a lot less and
it's the same.
Condo with houses is a littlebit different.
Most neighborhoods, even the80s neighborhoods, had at least
six different house types.
Sometimes they have basementsthat are not finished.
I did one a couple of years agothat had a basement spent,
(24:20):
spent $75,000.
I know you're rolling your eyesout there like who's got
$75,000 to finish the basement.
I did that because I knew thehome would sell around $425,000
as is, without the doubling thesquare footage.
All the floors needed doinganyway.
Anyway.
The kitchen needed a majorupgrade, all the walls needed
(24:41):
painting, everything else.
Well, gosh, darn it.
We sold that house for sixhundred fifty thousand dollars.
And now how did I take the riskto do that?
Because there was a house inthe neighborhood that sold for
six hundred fifty thousanddollars.
What was the difference betweenthat house and mine?
Um, the other house was twiceas big and for 75.
I mean, obviously that would bea major profit for you, correct
(25:04):
?
Now it's the other thing.
You don't have to do that.
We can do it for you throughthis program with the funding
partners up front.
Now, same thing if you're goinginto senior living.
It works the same way.
We can get you out in as shortas two weeks.
Guys, you get up to up to 70%on your first check.
Well, wait, that's soundinglike one of those investor cash
(25:24):
offers that I talked aboutbefore.
I know two-thirds of oursellers make more money than
with a conventional listingBecause of how this works.
We go in, we do the HGTV magic.
We've got a funding partnerthat provides all the money for
this.
I don't know how long thisprogram is going to last.
You guys Take advantage of itwhile it's out there, because it
almost seems to be too good tobe true, right?
(25:46):
And they've been doing it since2017.
This is not new.
That's eight years now, right?
And thousands of homes,thousands of homes through this.
So really think about it,because you can make a lot more
money for your home withoutdoing all of this.
And if you don't want to gothrough the program and you just
need a contractor because youthink some of these ideas are
(26:06):
good ideas and you know thatyour home needs a little love
and care, we've got thecontractors for you anywhere in
the country.
So just hit us up or send you alist of them.
We will even even most of us asrealtors, certainly all the
people in the listing royaltynetwork around the country and
in canada as well, most of themhave what we call crms
(26:29):
relationship database managementsystems where we're able to
communicate back and forward.
We can we can text mass text 10or 20 contractors or plumbers
or electricians or painters andsay please give our client a
call at this number.
You know how hard it is to gethold of a GC.
(26:49):
All of you who I hear this everysingle day, those of you who
are trying to remodel or getsomething done in the yard or
anything at all especially as inmany parts of the country,
spring is the busy sellingseason Just get it on now, guys.
Don't wait.
You're literally settingyourself up to make less money
(27:09):
because there's more competitiononce you get it on spring.
Don't do that, but that's awhole other show that I've done
many times.
Don't wait.
Time is not your friend rightnow.
Because of what's happening inthe market.
As more homes come on in thespring, that's gonna get even
tougher.
So if you need anything doinganywhere in the country, hit us
up.
We'll actually have them callyou.
(27:30):
I have sellers say to me thingslike I can't, I can't believe
it.
I've been trying to get hold ofsomeone to do xyz for six
months.
These people just don't call meback and then you call another
one that you're fed up with itand think, well, if they're that
busy they can't do the job forme.
We'll have two or three peoplecalling you that day.
So just reach out to us,828-333-4483, anywhere in the
(27:56):
country.
You don't have to be in themountains.
You might be in florida orcalifornia or toronto or
anywhere else.
We can help you, for it doesn'tcost anything.
We'll just have thosecontractors call you.
It's uh, it's pretty easy now.
If you've got something that'syou know, wacky, doodle and very
unusual, hey, we'll give it ago with that too.
(28:18):
It's all good.
So here we are, shiftingtowards a buyer's market and in
many cases, in many places,we're already in the buyer's
market.
That's the news, right?
So the time it takes to sellincreases when it isn't that
newest home on the market.
Most of us don't want to gothrough the pain in the butt
(28:41):
that it is to do those upgradesand, quite honestly, unless
you're doing it yourself andyou're very fast most of you
haven't remodeled.
I've remodeled 42 homes.
So you know, I've got my systemdown, I've got the speed there,
I've got the people I use use.
I've done it in miami, I'vedone it in san diego, I've done
(29:01):
it in ashville, north carolina,I've done it in dc, probably a
few more places.
I'm not even thinking of rightnow the uk.
Back when I was in the uk, Idid three of them in the uk, so
I've got my systems down.
I know what I'm doing.
I know how to get the rightbang for the buck.
I know how to remodel a kitchenon a budget and yet put all the
(29:22):
things in that somebody, eventhe luxury grade, would want.
I'll give you an example ofthat.
We can switch out hinges.
Listen, guys, if you're like,oh, I heard this thing on the
radio show that I can switch outmy European hinges those are
the ones that slot in the holeon the back of the door to the
soft close ones and they'll onlycost me about a hundred bucks
(29:44):
to do my entire kitchen.
That's true, but I'll give youa little tip, because we've all
made these mistakes.
That's what I mean about whenyou know what you're doing.
You've already made themistakes and learned from them,
right?
So don't just jump into aproject like this and think, oh,
I'm going to spruce up my houseto get it sold.
Here's why You're going to havea and I've seen this so many
times too you're going to have abathroom that's ripped out, and
(30:07):
the contractors will be like,yeah, we can get it done in
three days and weeks later it'snot finished.
How are you going to sell yourhome when that's ripped out or
not ready?
So be really, really careful,careful, or you'll order the
hinges.
Because you've heard it on theshow today.
Guess what?
There are 12, 14 differentsizes of those hinges.
You have to, you have to pullone out.
You have to take yourscrewdriver, get, take your
(30:29):
power drill, get that hinge out.
Look on the back of it.
It's got a number on it.
And when I say soft close, bythe way, that's when you open
you know how you'd open the doorand they go blank when I should
go and open one here so you canhear it.
But you know what I'm talkingabout.
It slams back shut.
People really like the softclose doors and it's so
inexpensive to do this.
(30:50):
But there's a number on theback of that hinge.
If you didn't know that and youwait a week for the hinges to
come and then you realize theydon't fit in, it's very
frustrating.
You got to send them back andeverything else.
So just know that if you'regoing to make that little change
, that makes a big difference.
That kind of thing is happeningnow.
Take that knowledge and applyit across the countertops.
(31:12):
Apply it across appliancesmaybe you even need appliances
taking it across how to paintcabinets so that they don't, so
that they look like brand newcabinets.
Take it across the right kindof hardware on the cabinet doors
.
Take it across the right kindof faucet to put in the sink.
Take it across the right kindof sink to get, or the waste
(31:33):
disposal to get, so, and that'sjust a kitchen.
Imagine all the rest of it.
So don't bite off more than youcan chew, especially right now
with the upgrades on your home,because we're in a declining
market in terms of pricing.
Of course, you know it's likewow, wow, wow.
No, it isn't Not.
If you're buying somethingbecause you want to buy it at a
(31:55):
lower price, there's a lot ofbuyers that have been sitting on
the fence for a long time.
Why?
Interest rates, of course, andthere wasn't much choice out
there, and you feel like you'rejumping into something without
much choice and you're justwaiting for something else to
come on the market.
Meanwhile, especially if you'rerenting, you're paying somebody
else's mortgage for them.
(32:16):
Don't be in that situation.
Let's get you in a house,especially if you intend to be
in the long haul.
Um, all history shows, andthere's never any guarantees in
life, apart from death and taxes, as we know.
Um, in 10 years time, your homewill be worth considerably more
than it is now.
Now, for the next three and ahalf to five and a half years,
not so, depending on what marketyou live in, but the vast
(32:39):
majority of the country that isnot.
So we're in a declining market,so I don't want you going out
and taking on a project that youhaven't done in 10 years.
Oh, I can do a kitchen.
I did one 10 years ago and thenshe goes.
Honey, it was actually 20 yearsago when we were in miami.
Don't bite off more than youcan chew, because it might take
(32:59):
you longer than you think, andeach month.
So the worst decline we had wasI think it was in August of
2007,.
It may have been 2008, where wedropped 0.9%.
Now that doesn't sound much,but it was almost 1%.
So drop 1% for 10 months andsee what that looks like.
(33:20):
So if you're in a $500,000 homeand that's the average in many
markets now is a $500,000 home,so it's only 5,000.
Honey, we're only losing 5,000.
How about?
In 10 months that's 50,000?
How about it continues over ayear and a half and that's
100,000?
And we know we had those dropsright.
(33:41):
So in most of the country wewent down between 30 and 33%.
Some markets went down more.
So take that 30% and make thatworst case scenario right.
I'm that worst case scenariogirl.
If I can deal with the worstcase scenario, I can deal with
anything.
That's how I feel, because youknow, at the end of the day, if
(34:05):
I've got let's say I've got a$600,000, I'm trying to make the
math easy here a $600,000 homeand I'm looking, I'm going to
make it 33% because a lot ofplaces I'm really doing that to
make the math easier, but in alot of places it did go down 33%
.
So that's a third right.
So my $600,000 home back in theday when it dropped to the base
(34:30):
, in that 2007 drop, when itstarted to drop, my home was now
worth $400,000.
Here's the other problem andthis is looking at history right
.
This has gone on over and overagain in history.
Speaker 2 (34:45):
Hey, sean Hannity here talking with the only real
estate agent in your market.
I recommend Rowena Patton withAll Star Powerhouse.
Now more than ever, buyers andsellers need an expert to
navigate this ever-changingmarket.
And what do you do to stand out?
Speaker 3 (35:01):
You know I got into real estate in 2007.
I've had a lot of experienceall of the way down and I sold
more homes than anybody else.
And I did that throughexperience, marketing,
negotiation, and in today'smarket you need that experience
more than ever.
Agents for the last two orthree years really haven't
(35:23):
learned a whole lot aboutanything that's difficult about
the market, Because you couldjust stick a sign outside the
door and put a lockbox on thedoor and boom, it's gone
tomorrow with three multipleoffers.
That is not the market we're inanymore.
Speaker 2 (35:36):
Call Rowena Patton right now at 828-333-4483 or
online at mountainhomehuntcom.
Speaker 3 (35:45):
I always like to err on the side of not being
conservative when I'm estimatingthings.
So write down $5,000 for you,granite.
If you're in a tiny kitchen ina condo or something like that,
it's not going to be that much.
It might be $2,000.
Just write down $5,000.
That gives you a big choicevariance.
And then I want you to get withyour real estate agent and look
(36:07):
at whether there's a variancein the price of homes.
If you're on a condo, that canget very tricky because many of
the condos are the same.
You've got three choices in thecondo building and that tends
to keep prices, not always, butmost often tends to keep prices
(36:27):
not flat but within a tightvariance.
In other words, if you sell acondo for $350,000, it's hard to
get $450,000 for a condo that'supgraded.
Does that make sense?
Because you could go in andupgrade it for a lot less and
it's the same condo.
With houses it's a little bitdifferent.
Most neighborhoods, even the80s neighborhoods, had at least
(36:47):
six different house types.
Sometimes they have basementsthat are not finished.
I did one a couple of years agothat had a basement spent
$75,000.
I know you're rolling your eyesout there like who's got
$75,000 to finish the basement.
I did that because I knew thehome would sell around $425,000
(37:09):
as is, without the doubling thesquare footage.
All the floors needed doinganyway.
The kitchen needed a majorupgrade, all the walls needed
painting, everything else.
Well, gosh darn it, we soldthat house for $650,000.
And now, how did I take the riskto do that?
Because there was a house inthe neighborhood that sold for
(37:29):
$650,000.
What was the difference betweenthat house and mine?
The other house was twice asbig and for 75,.
I mean, obviously that would bea major profit for you, correct
?
Now it's the other thing.
You don't have to do that.
We can do it for you throughthis program with the funding
partners up front.
Now, same thing if you're goinginto senior living.
(37:49):
It works the same way.
We can get you out in as shortas two weeks.
Guys, you get up to 70% on yourfirst check.
Well, wait, that's soundinglike one of those investor cash
offers that I talked aboutbefore.
I know two thirds of our sellersmake more money than with a
conventional listing because ofhow this works.
We go in, we do the HGTV magic.
(38:10):
We've got a funding partnerthat provides all the money for
this.
I don't know how long thisprogram is going to last.
You guys Take advantage of itwhile it's out there, because it
almost seems to be too good tobe true, and they've been doing
it since 2017.
This is not new.
That's eight years now andthousands of homes, thousands of
homes, through this.
(38:31):
So really think about it,because you can make a lot more
money for your home withoutdoing all of this.
And if you don't want to gothrough the program and you just
need a contractor because youthink some of these ideas are
good ideas and you know thatyour home needs a little love
and care, we've got thecontractors for you anywhere in
the country, so just hit us upor send you a list of them.
(38:53):
We will.
Even most of us as realtors,certainly all the people in the
listing royalty network aroundthe country and in canada as
well most of them have what wecall crms relationship database
management systems where we'reable to communicate back and
forward.
We can text mass text 10 or 20contractors or promos or
(39:17):
electricians or painters and sayplease give our client a call
at this number.
You know how hard it is to gethold of a GC.
All of you who I hear thisevery single day.
Those of you who are trying toremodel or get something done in
the yard or anything at allespecially as in many parts of
the country, spring is the busyselling season Just get it on
(39:40):
now, guys.
Don't wait.
You're literally settingyourself up to make less money
because there's more competitiononce you get it on in spring.
Don't do that, but that's awhole other show that I've done
many times.
Don't wait.
Time is not your friend rightnow because of what's happening
in the market as more homes comeon in the spring, that's going
to get even tougher.
(40:02):
So if you need anything doinganywhere in the country, hit us
up.
We'll actually have them callyou.
I have sellers say to me thingslike I can't believe it.
I've been trying to get hold ofsomeone to do X, y, z for six
months.
These people just don't call meback.
And then you call another onethat you're fed up with it and
think well, if they're that busythey can't do the job for me.
We'll have two or three peoplecalling you that day.
(40:26):
So just reach out to us828-333-4483.
Anywhere in the country.
You don't have to be in themountains.
You might be in Florida orCalifornia or Toronto or
anywhere else, we can help you.
It doesn't cost anything.
We'll just have thosecontractors call you.
(40:46):
It's pretty easy.
Now, if you've got somethingthat's you know, wacky, doodle
and very unusual, hey, we'llgive it a go with that too.
It's all good.
So here we are shifting towardsa buyer's market and in many
cases, in many places, we'realready in a buyer's market.
That's the news, right?
So the time it takes to sellincreases when it isn't that
(41:10):
shiniest, newest home on themarket.
Most of us don't want to gothrough the pain in the butt
that it is to do those upgradesand, quite honestly, unless
you're doing it yourself andyou're very fast most of you
haven't remodeled.
I've remodeled 42 homes, so youknow I've got my system down.
(41:31):
I've got the speed there, I'vegot the people I use.
I've done it in Miami, I'vedone it in San Diego, I've done
it in Asheville, north Carolina,I've done it in DC, probably a
few more places.
I'm not even thinking of rightnow the UK.
Back when I was in the UK I didthree of them in the UK.
So I've got my systems down.
I know what I'm doing.
(41:52):
I know how to get the rightbang for the buck.
I know how to remodel a kitchenon a budget and yet put all the
things in that somebody, eventhe luxury grade, would want.
I'll give you an example of that.
We can switch out hinges.
Listen, guys, if you're like,oh, I heard this thing on the
radio show that I can switch outmy European.
Guys, if you're like, oh, Iheard this thing on the radio
show that I can switch out myeuropean hinges, those are the
(42:14):
ones that slot in the hole onthe back of the door to the soft
close ones, and it'll only costme about 100 bucks to do my
entire kitchen.
That's true.
But I'll give you a little tip,because we've all made these
mistakes.
That's what I mean about whenyou know what you're doing.
You've already made themistakes and learned from them,
right?
So don't just jump into aproject like this and think, oh,
(42:34):
I'm going to spruce up my houseto get it sold.
Here's why You're going to havea and I've seen this so many
times too no-transcript.
(43:00):
You have to.
You have to pull one out.
You have to take yourscrewdriver, get, take your
power drill, get that hinge out.
Look on the back of it.
It's got a number on it.
And when I say soft close, bythe way, that's when you open.
You know how you open the doorand they go blank.
When I should go and open onehere so you can hear it.
But you know what I'm talkingabout it.
It slams back shut.
People really like the softclosed doors and it's so
(43:25):
inexpensive to do this.
But there's a number on theback of that hinge.
If I, if you didn't know that,and you wait a week for the
hinges to come and then yourealize they don't fit in, it's
very frustrating.
You got to send them back andeverything else.
So just know that if you'regoing to make that little change
, that makes a big difference.
That kind of thing is happeningnow.
Take that knowledge and applyit across the countertops.
(43:48):
Apply it across appliancesmaybe you even need appliances.
Taking it across how to paintcabinets so that they don't, so
that they look like brand newcabinets.
Take it across the right kindof hardware to put on the doors
uh, on the cabinet doors.
Take it across the right kindof force it to put in the sink.
Take it across the right kindof faucet to put in the sink.
(44:09):
Take it across the right kindof sink to get, or the waste
disposal to get, and that's justa kitchen.
Imagine all the rest of it.
So don't bite off more than youcan chew, especially right now
with the upgrades on your home,because we're in a declining
market in terms of pricing.
Of course, you know it's likewah, wah, wah.
No, it isn't not.
(44:30):
If you're buying somethingbecause you want to buy it at a
lower price, there's a lot ofbuyers that have been sitting on
the fence for a long time.
Why?
Interest rates, of course, andthere wasn't much choice out
there, and you feel like you'rejumping into something without
much choice and you're justwaiting for something else to
come on the market.
Meanwhile, especially if you'rerenting, you're paying somebody
(44:52):
else's mortgage for them.
Don't be in that situation.
Let's get.
Let's get you in a house,especially if you intend to be
in the long haul.
Um, all history shows, andthere's never any guarantees in
life, apart from death and taxes, as we know.
Um, in 10 years time, your homewill be worth considerably more
than it is now.
Now, for the next three and ahalf to five and a half years,
(45:14):
not so depending on what marketyou live in, but the vast
majority of the country.
That is not.
So we're in a declining market,so I don't want you going out
and taking on a project that youhaven't done in 10 years oh, I
can do a kitchen, I did one 10years ago and then she goes.
Honey, it was actually 20 yearsago when we were in Miami.
(45:36):
Don't bite off more than youcan chew, because it might take
you longer than you think, andeach month.
So the worst decline we had wasI think it was in August of 2007
.
It may have been 2008, where wedropped 0.9%.
Now that doesn't sound much,but it was almost 1%.
So drop 1% for 10 months andsee what that looks like.
(45:58):
So if you're in a $500,000 homeand that's the average in many
markets now is a $500,000 homeso it's only 5,000.
We're only losing 5,000.
How about in 10 months?
That's 50,000.
How about it continues over ayear and a half and that's
100,000.
And we know we had those dropsright.
(46:19):
So in most of the country wewent down between 30 and 33%.
Some markets went down more.
So take that 30% and make thatworst case scenario right.
I'm that worst case scenariogirl.
If I can deal with the worstcase scenario, I can deal with
anything.
That's how I feel, because youknow, at the end of the day, if
(46:43):
I've got let's say I've got a$600,000, I'm trying to make the
math easy here a $600,000 homeand I'm looking, I'm going to
make it 33%, because a lot ofplaces I'm really doing that to
make the math easier, but in alot of places it did go down 33%
.
So that's a third right.
So my $600,000 home back in theday when it dropped to the base
(47:09):
, in that 2007 drop, when itstarted to drop, my home was now
worth $400,000.
Speaker 2 (47:17):
Hey, sean Hannity here talking with the only real
estate agent in your market.
I recommend Rowena Patton withAll Star Powerhouse.
You know it's more importantthan ever that you have your
house in top condition when yousell it.
Can you give some suggestionson how to do that?
Speaker 3 (47:33):
You know, it's always important to get your home in
top condition.
You've probably heard of acertified pre-owned car, a CPO
car.
They've been around for 30years.
We all pay 3% to 5% more for aCPO car, so why are we throwing
house on the market when wedon't know what is wrong with it
?
We're not fixing anything,which is fine.
(47:57):
We can just disclose thosethings.
By the way, it's always alwaysimportant to make sure that it's
prepared properly.
That's why I startedcpoexpertscom back in 2007.
It's more valuable today thanever great update.
Speaker 2 (48:05):
thank you for keeping us informed.
Call Rowena Patton right now at828-333-4483 or online at
mountainhomehuntcom.
Speaker 3 (48:18):
Now I want to give you some examples of people that
we've worked with that havechosen the Senior Living CPO
program.
I've changed the names forobvious reasons and giving you
the overview of their choices.
So there's Joan, who's 74, andshe's an active senior and a
widow who feels isolated in herhome and she moved into
(48:41):
independent living where nowshe's got all these new
friendships, daily activitiesand obviously that
maintenance-free lifestyle.
And now there's David and Marywith health challenges, and
David's 82 and Mary's 80, andthey can no longer care for each
other at home and they've movedinto assisted living for that
daily support and just to takethat stress away.
(49:04):
We've got Richard, who's 78,who is in recovery.
So after breaking his hip, heneeds some short-term rehab,
which is also very common so hemoved into a skilled nursing
facility where he regains hisindependence.
Sometimes people choose not togo back in their own home.
At that point I'm actuallyhelping a couple whose mother is
(49:28):
in that situation right now.
I helped them sell the house agazillion years ago and now mom
is going into a senior livingcommunity and they've asked me
to help with that and gettingher home sold just in the last
week.
Then we've got Margaret, who's81, moving into a memory care
community.
Margaret has Alzheimer's andher son, jason, can no longer
(49:50):
care for her alone at home.
It can be very, very difficultand also can be very hard on
your health as the caregiver.
It's very, very common for thecaregiver to get heart problems,
certainly stress and depression, and just finding it really
hard being a caregiver.
Not everybody's built for that.
(50:11):
I'm not sure anybody's builtfor that, quite honestly.
And then there's John, who justwanted maintenance-free living.
He's 70 years old, he's active,he's just tired of home
maintenance.
So we found him a 55-pluscommunities.
They are out there.
We've got agents in the ListingRoyalty Network who can help
you all over the country.
So now he plays golf, hetravels, he enjoys that vibrant
(50:40):
lifestyle.
He's 70 years old, he's not 170.
And while we're, when we'reyounger we may think 70 is a
long way off and um, it's reallyold.
But guess what, when you're 70it doesn't always feel that way.
So then we've got Sam and Lindaand they're just downsizing
which I like to callright-sizing for affordability,
and they needed a lower-costoption.
So they chose seniorcooperative housing and that
(51:03):
reduces expenses while stayingindependent.
These aren't availableeverywhere in the country but
they are available in someplaces.
We've got Evelyn, who's 85, whowanted a faith-based community
where she was at.
After losing her husband, shesought a place that had that
(51:23):
spiritual connection.
So she moved into a faith-basedsenior living community and
gets that comfort and purpose.
Speaker 4 (51:27):
No matter what the media says about the housing
market or the bad advice thatcomes from people who know
little to nothing about realestate, life happens and there
are times you have to sell yourhome.
Speaker 5 (51:36):
Here's what you should do.
I'd talk to our friend RowenaPatton of All Star Powerhouse.
Speaker 4 (51:41):
She's extremely knowledgeable and she's an
expert in the Asheville NorthCarolina area.
Speaker 5 (51:46):
Rowena Patton is like the guidance counselor of real
estate.
Speaker 4 (51:49):
When life happens, it's great to know you have an
experienced local agent who hasdealt with situations like yours
before, someone who sells morethan 10 or 15 homes a year.
As a real estate investor, Iprefer local knowledge as a
resource that you can rely on.
Speaker 5 (52:03):
Find out how much your home's worth in today's
market.
No need for lengthy interviewsand long wait times.
Just go to the website and getyour home's value in seconds.
You'll probably find your homeis worth more than you thought.
Speaker 4 (52:15):
Rowena can even give you an instant cash offer on
your home.
Speaker 5 (52:19):
Don't hesitate, contact Rowena Patton's all-star
powerhouse.
Visit mountainhomehuntcom.
That's mountainhomehuntcom.
Speaker 3 (52:28):
That's a wrap for today's show and thank you so
much for tuning in.
I'm so proud of you forinvesting the time to learn more
about selling your home orhelping someone else in your
life, whether they're a senioror not, navigate this really
important and sometimes verystressful transition.
With information comes power,and when you realize that you're
(52:50):
in the driver's seat equippedwith the right knowledge to make
smart, intelligent decisions,this next chapter will be a
whole lot less stressful andyou'll walk away with more money
in your pocket to previousshows on topics like selling
your home, remodeling your homeand what to do if you're
(53:11):
building a home, and many morehelpful topics at
realestatenewsradiocom.
That's realestatenewsradiocom.
I really appreciate youspending this time with me on
the radio and I can't wait to beback with you next week.
Same time, same place.
See you on the you next week.
Speaker 1 (53:33):
Same time, same place .
See you on the radio next week.
This has been the Plain EnglishReal Estate Show with Rowena
Patton.
Visit Rowena and post yourquestions at RadioAshevillecom
or call her at 828-210-1648.
This is the Plain English Real Estate Show with
your host, Rowena Patton, a showthat focuses on the real estate
market in terms you can easilyunderstand.
Call Rowena now.
The number is 240-9962 or1-800-570-9962.
Now here's the English girl inthe mountains, the agent that I
would trust.
Speaker 2 (00:20):
Rowena Patton.
Hey, sean Hannity here talkingwith the only real estate agent
in your market.
I recommend Rowena Patton withAll Star Powerhouse.
What kind of programs do youoffer?
Speaker 3 (00:33):
You know, sean.
Thank you for that question.
Have you heard of the cash CPOoffer?
Lots of people just don't wantto go through that hassle of
preparing their home or anythingelse.
This brings you a cash offerfull market cash offer right
away and you don't have to gothrough those showings.
Of course, if you want any ofus to do a traditional
(00:55):
old-fashioned listing, we'remore than happy to do.
That.
Certainly is worth your whilechecking out this offer up front
and then you take away all thehassle.
Speaker 2 (01:05):
Great update.
Thank you for keeping usinformed.
Call Rowena Patton right now at828-333-4483, or online at
mountainhomehuntcom.
That's mountainhomehuntcom andyou can start packing.
Speaker 3 (01:22):
Well, thank you for that great introduction, sean,
and congratulations on yourrecent engagement over Christmas
.
Welcome to the Real Estate NewsRadio Show.
I'm Rowena Patton, your friendin real estate, and today we're
diving into something of acrucial topic helping seniors
(01:42):
transition into assisted orindependent living with
confidence and financialsecurity Gosh, that last one's a
kicker right and also, ofcourse, helping families as well
.
We all know that downsizing, orright-sizing as I like to call
it, and moving into seniorliving can be stressful, not
just for seniors but theirfamilies too.
Senior living can be stressful,not just for seniors but their
(02:03):
families too.
And you know it's not juststressful when we're talking
about senior living.
Any kind of move is stressful.
(02:37):
I've done it myself many times,way too many times.
I moved from the UK in 1996.
I moved to Washington DC andthen a brief stint in Los
Angeles and then down to MiamiBeach, actually back to DC, and
then.
So maybe I didn't have quite somuch stuff, although when I
came across from the UK I madethe poor decision to ship lots
of sofas and chairs and stuffand things across from the UK
(02:59):
and I had no idea what kind ofjourney that was going to be.
It was all crated up and sentacross to Annapolis Some very
good friends of mine.
We got a U-Haul and went toAnnapolis and tied in some crab
eating on the way, which made itfun.
But oh my gosh, when I saw thecrate and what it took to get
(03:19):
that crate open and everythingout, and the amount of money
that I spent to ship all of thatstuff across and then have it
in a house in DC, it just itdidn't make sense.
I wish I'd known that before Idid it.
Of course, and one of the mainthings for me is I was taking
all my memories with me.
So all my grandma's old littleChina things half of them were
(03:41):
broken, broken.
I had that little cottage setthat she had and these days I
realized that she was sitting upthere saying what on earth up
there in the sky that would beshe'd passed at that time.
She was sitting up there sayingwhat on earth are you doing,
taking all that stuff and thingsand my broken china with you?
(04:03):
Let it go, girl, go live yourlife, and I wish I'd known that
at the time.
It would have saved me a lot.
I know a lot of people who aremoving themselves, are thinking
about selling their home, movingon to somewhere else the next
chapter, whatever that lookslike are struggling with that.
You know, really strugglingwith how to let go of those
(04:25):
things.
I get it.
So back to the seniors.
Many of them are only offered70% or less.
I heard of one recently thatwas 50% of their home's value.
It's usually throughinvestor-based solutions.
What does that mean?
There are investors out there.
I can find you plenty that willgive you 50 or 60% for your
(04:45):
home and, believe it or not, alot of people do that because
they just don't know what elseto do and they don't want to go
through the stress of selling ahome.
They don't want to sign outside.
Maybe they need the moneyreally quickly.
There are other ways you can doit.
(05:06):
So the reason in the senior casethat many of the seniors have
been jumping on this in the pastbefore our offer that gives
over two-thirds of seniors moremoney, or anybody else, for that
matter, that wants to use thisproduct and it's often because a
lot of these communities havelong, long wait lists and once
your spot comes up, you're luckyif you get two weeks.
Honestly, you have to jump onit Now.
(05:27):
People are also doing reversemortgages because of this,
because the vast majority ofseniors hey, let's be honest,
the vast majority of most of ushave the majority of our money
locked up in our house.
So what happens is, you know,you've probably for years been
thinking about senior living.
Or if you're the kids, the 50,60, 70 year old kids of the
(05:50):
senior that you're helping,you're probably going on tours
of these communities for years.
It's kind of like moving toanother city.
You know you might not moveright away.
You might book a visit for thespring.
You know lots of people arecoming to Asheville in the
mountains and spring to justtake a look around and see
whether they want that secondhome in Asheville or want to
(06:14):
move to Asheville.
That's happening all over thecountry.
So you've probably done yourresearch for the senior living
communities for years.
Finally, you make the decision.
That usually comes or notalways, but it's much more
likely to come after a holiday.
Why?
Because everybody sits aroundat Hanukkah, at Christmas, at
(06:40):
spring break, at Easter, at July4th Think of all those holidays
when the family gets togetherand maybe the senior person in
your family can't make it.
Maybe you go to the seniorperson in your family and you
realize that you've had years offlying in or driving in or
(07:02):
being there at one o'clock inthe morning to help out.
And obviously, as we get older,more things tend to happen.
I know 30 year olds who say,well, I'm getting old because
their knees are hurting right.
So as you get older it's just anatural progression of life
More things tend to go wrongwith your body.
So often the case for goinginto a community is triggered by
(07:28):
an accident.
Maybe your senior has a fall,maybe they pull a knee out or a
hip out or something like that.
That's usually what triggers it.
So everybody then gets togetherat the holidays and says mom,
you know what?
I really want you to thinkabout this.
It could be really fun for you.
You're not going to be sittinghome alone anymore, I'm not
(07:48):
going to be worrying about youso much, and it's just something
I want you to take a look at.
Speaker 2 (07:56):
Hey, sean Hannity here talking with the only real
estate agent in your market.
I recommend Rowena Patton withAll Star Powerhouse.
What kind of programs do youoffer?
Speaker 3 (08:07):
You know, sean.
Thank you for that question.
Have you heard of the cash CPOoffer?
Lots of people just don't wantto go through that hassle of
preparing their home or anythingelse.
This brings you a cash offerfull market cash offer right
away and you don't have to gothrough those showings.
Of course, if you want any ofus to do a traditional
(08:29):
old-fashioned listing, we'remore than happy to do.
That certainly is worth yourwhile checking out this offer up
front and then you take awayall the hassle.
Speaker 2 (08:39):
great update.
Thank you for keeping usinformed.
Call Rowena Patton right now at828-333-4483, or online at
mountainhomehuntcom.
That's mountainhomehuntcom andyou can start packing.
Speaker 3 (08:55):
Thanks, Short and you know we even have the services
whereby we can help you withthat packing.
So now the family's gottentogether and the decision has
been made and we go to theparticular community.
We want to go in and realizethat they have a year-long wait
list.
Well, how can you sell yourhouse when there's a year-long
(09:17):
wait list and there's noguarantees that it's going to be
a year?
The sad fact is that the reasonan opportunity comes up in a
community is because somebodypasses and although the
insurance underwriters will tellyou they know exactly what day
we're going to go to the pearlygates on that, we can't
(09:38):
determine exactly when thatdate's going to be.
So, as the senior, you're onthat wait list and finally it's
going to come up.
But how do you know when that'sgoing to be?
Are you going to risk listingyour house a month before that
spot is supposed to come up?
What happens if you sell it?
It's just a very, very difficulttransition done in the
(10:02):
traditional way.
Anything that's time bound.
In real estate, it can be verydifficult.
What do I mean by time bound?
Maybe you want to move to adifferent part of the country,
maybe you want to move down thestreet, but you've got a
deadline on that.
You start a new job or you wantto be by the grandkids and you
want it now, darn it, becausethey're getting bigger, or
(10:25):
anything that's time bound canbe very, very difficult because,
A you don't know when your homeis going to sell and, b that
deadline may shift.
Here's another example whenyou're building a home, it's
notorious for those dates toshift.
When you're building a home andthe it's notorious for those
dates to shift when you'rebuilding a home, why?
Because of the weather, becauseof materials coming in all
(10:47):
kinds of things can happen.
Maybe there's a port that'sheld up and the materials can't
get in.
Maybe the materials havedoubled in price all kinds of
things can happen that push outthat date.
Maybe the builder has astaffing shortage, maybe they
can't get the workers in orthey've lost a crew or something
(11:08):
like that.
So how do you know when to sellyour home?
Well, through this program,through the cash GPO, whether
you're moving into senior livingor building a home or anything
else, that takes all that timepressure off the table and we're
going to go into exactly how itworks as well.
The thing that worries me withseniors is we're at the end of
(11:31):
our life.
On average, a senior and thisis a hard one to hear a senior
lives in a community for 29months.
That's when they use ourprogram.
It's 25 months when they don't,because it takes that much
longer to sell their home andthey're going through three,
four, five months of stressselling the home as they clear
(11:52):
things out and then just thestress of people coming into the
home and a sign outside and alockbox and the realtors coming
in.
Especially when you're up therein years.
It's not so much fun to jump upit.
Quite frankly, it's not fun forany of us to jump up and get
out of our homes and keep itshow ready all the time and
remember we're going after thatwaitlist spot with now you know
(12:14):
you can imagine what that feelslike.
So it's even more important asthe market shifts towards a
buyer's market.
What's a buyer's market?
I wanted to give you a quickupdate on the market in Western
North Carolina.
I like to use price cuts.
Why do I like to use price cuts?
(12:35):
Because they are a leadingindicator.
It's a bit late when youfinally see that prices are
going down to then think aboutputting your house on the market
.
Of course, it's never a badtime to put your house on the
market, but sometimes it getsharder.
It's better to look out now andwatch the market and look for
(12:55):
those indicators that have yousaying maybe we are in for a
decline.
So here's some numbers for you.
I'm going for the red ones onthe map and, by the way, I can
do this for anywhere in thecountry.
I've got hundreds of thousandsof data points on every zip code
there is and it shows all kindsof different data, from home
(13:18):
price forecasts to whetherthey're overvalued or not, cap
rate.
That's something that peoplewho are investors use Population
growth, price cuts.
So it's looking at lots ofdifferent factors, but the price
cut one is easy.
That means that if you're inAsheville right now, there are
more price cuts than usual onthe listings.
(13:38):
Right now there are more pricecuts than usual on the listings.
You can make your own thinkingabout what that means.
I mean you can make up your ownresult or conclusion from that.
So here we are in 28748, forexample.
That's west of Asheville,that's in the red zone, with a
(13:59):
quarter of the listings having aprice cut.
Now, where these areas aresmaller, 28748 is a pretty big
zip code where these areas aresmaller or there aren't many
listings.
That gives you a smaller datapoint, but this one's pretty big
one.
And then we've got 28701, whichis kind of wood fin, and just
to the north a little bit, 25%,another quarter of the listings.
(14:21):
Now that's more than it wasbefore.
That's gone up.
More people I would say to that,more people are saying you know
what?
I think the market's having acorrection, therefore, which is
very smart, by the way.
We're going to get ahead of itnow and get our home sold,
especially as the point in timewe're at, we're about a month to
(14:45):
two months ahead of that busierspring market.
Now, whether it's going to beas busy as last year or busier,
we don't know yet because we'renot there.
We can predict anything, butlook at the predictions for the
election.
They get those wrong too.
So and these are obviously onsmall numbers, so you just don't
know where it's going.
But you can say that generally,more people in 28748, which is
(15:11):
that west side of Asheville,northwest of Asheville more
people there are more concernedor suddenly need to move more
urgently.
So a quarter of them have pricecuts.
I've seen the number muchhigher than that too.
And then we go over to west ofthat 28721 maybe people are
looking at what's next door.
(15:31):
That's got Clyde at the bottom.
That's nearly 20%.
So one in five of the listingshave a price cut.
Again, that's up more thanusual.
Waynesville is another one, sothat's nearly 23% in terms of
price cuts.
So again, that's almost aquarter of them, and I'd advise
(15:51):
anybody that needs to get theirhome sold get out in front of
this.
That's how you do it.
Another one on here MaggieValley.
That's fairly high as well, at21%.
There's lots of bluer areas aswell 28806, 20%.
That's the number of price cutsover the number of listings
(16:12):
that are out there.
28805, that's East Asheville.
That's at about 20%.
Black Mountain is about 19% interms of the listings that have
price cuts.
So if you need to get it sold,guys, get out ahead of it.
Don't wait for the springmarket.
There'll be more homes comingon the market.
You don't want to be what wecall chasing the market down.
(16:35):
It's absolutely not where youwant to be.
We've been a seller's market forquite some years, one of the
longest stretches in history,actually Economic cycle, clément
Juglar.
You've all heard me say it amillion times.
Clément Juglar, frencheconomist, in 1860, set the
nature of the economic cycle.
(16:58):
So it goes up, it comes down.
It goes up, it comes down.
Think about those stock marketcycles that you see.
The cycle is 7 to 11 years Inmost markets.
All over the USA we havecrested and we're starting to
see prices coming down.
There are a few markets wherethat's not happening.
That's a whole other show foranother day.
But in most markets prices areeither stabilized or they're
(17:21):
coming down.
Now why is that important ifyou've got something that's time
bound?
Here's why Because a buyer'smarket is where the power is in
the hands of the buyer.
There's more homes coming onthe market, so it's just a basic
principle of supply and demand.
When there are more homes onthe market, they're going to be
(17:43):
less expensive.
I know I'm not shocking anybodythere by saying that they're
going to be less expensive.
And the buyers, naturally, aregoing to go for the newest,
shiniest home, the one with theleast problems, the one where
they feel they're getting themost bang for the buck.
And of course, it's got to meetthe other criteria.
(18:06):
It's got to be in theneighborhood.
They want the school district,they want the area they want,
the village, the town, the city.
They want how many far blocksback from the beach that they
want.
However, because there's morehomes coming on the market,
there are usually more than justyour home to choose from.
That's what drives prices down,because if you've got three
(18:28):
homes to choose from before, youknow we had very few homes on
the market when it was a sellerwhat we call a seller's market,
which has been four years.
That's why we're getting allthose multiple offers.
Two or three years ago yes,it's really that long ago.
Can you believe that?
So as we shift and and there ismore choice in homes there,
naturally any buyer would choosea home.
(18:49):
Unless they're trying to make aprofit on it, they're an
investor and maybe they want toflip it they're going to choose
the home that's the best, thatbest bang for the buck, as long
as it meets the other criteria.
That is on their must-have list.
You know where it's at schooldistrict, everything we just
went through.
So most markets now are takingtwo or three months to sell on
(19:12):
average.
So not only that, this increaseswhen the home is not the
shiniest, newest thing on themarket or it's not easy to show
or it's not kept in show-readycondition.
I've had sellers before anyagent that's done a lot of real
(19:33):
estate transactions, has helpeda lot of families, has had
examples of where the seller iscancelling the showing at the
last minute.
You know it's sort of difficultto get in and if you can't get
in and see it you can't sell itright.
So you know, if it's hard toshow, if it's not the shiniest,
newest thing and it's not stagedright, if you don't have a very
(19:55):
experienced agent behind you,right, if you don't have a very
experienced agent behind you,certainly in a flat and
declining, declining market andthis is not the market to do for
sale by owner in.
I've had it give it a go.
However, you're certainly notgoing to do that.
If you're, you know time boundand you want to grab that spot
in senior living, it wouldn't bethe the best advice in that
(20:16):
scenario, obviously.
So commonly a senior's home maybe somewhat dated.
It may be built in 1980.
They may have been there, canyou believe, from 1980, that'd
be 45 years.
Isn't that incredible?
For those of us who are alittle bit older and not 19
anymore, the fact that 1980 is45 years ago is quite something
(20:41):
if it's built in 1980, you mayhave for my countertops.
Nobody wants for my countertopsanymore.
Sorry, it's hard to hear ifyou've got for my countertops
and I can hear you as a sellersaying, oh for my countertops,
I've done, it's just great.
Yes, you can't put hot pots onthem, but all you need is a
trivet to put that hot pot on.
It's not that hard and they'rebeautiful.
(21:02):
Look at them.
They're great, absolutely.
But here's the thing For asmall investment and with this
program we do all of that foryou If I go into a home for my
countertops and you need to sellit fast and you want to make a
bit more money for it, right?
So if I go into a neighborhoodand I see that we've got homes
(21:26):
that are selling at $500,000,$600,000 and they have granite
or quartz even granite hasbecome dated now Can you believe
that A lot of people arelooking for quartz for all kinds
of reasons?
Actually, it's a whole othershow too.
I've done a whole show on that.
So if I'm going into a home, asenior home and it's got formica
(21:46):
, I am going to advise to switchthose out.
That sounds horrendous, right?
Well, guess what?
If you're not in the home, youdon't have to deal with it at
all.
But it could easily make notonly a fifty thousand dollar,
twenty five thousand dollardifference on the sale of your
home and it's a three to fivethousand dollar investment,
(22:06):
depending on what we choose, howbig the calendar.
Obviously there's a bigvariance there.
But for five grand we can maketen, twenty, thirty, forty,
fifty more.
Why?
Because you are now competingagainst other homes and they're
going to choose that home nextdoor.
It may be another $20,000, butremember, most people are
(22:29):
getting a mortgage.
If you're getting a mortgageand the fact that it's $570,000
instead of $550,000 and it's gotnew countertops and an upgraded
kitchen that just maybe youknow white painted cabinets with
nice hardware on and europeanhinges with a soft close, so an
average size kitchen.
And, by the way, I've got allthe contractors anywhere in the
(22:52):
country to help you with this.
So if you're just thinking ofselling your home, you maybe
you're not a senior, maybe youare a senior, it doesn't matter
and you're thinking of doingyour home.
Maybe you're not a senior,maybe you are a senior, it
doesn't matter and you'rethinking of doing some upgrades
and you want to do all of thisyourself.
We'll help you with thecontractors.
We've got the contractors to dothis anywhere in the country,
so I always like to err on theside of not being conservative
(23:12):
when I'm estimating things.
Write down $5,000 for you,granite.
If you're in a tiny kitchen ina condo or something like that,
it's not going to be that much.
It might be $2,000.
Just write down $5,000.
That gives you a big choicevariance.
And then I want you to get withyour real estate agent and look
at whether there's a variancein the price of homes.
(23:34):
If you're in a condo, that canget very tricky because a condo
or you know many of the condosare the same.
You've got three choices in thecondo building and that tends
to keep prices, not always, butmost often tends to keep prices
not flat, but within a tightvariance.
In other words, if you sell acondo for $350,000, it's hard to
(23:58):
get $450,000 for a condo that'supgraded.
Does that make sense?
Because you could go in andupgrade it for a lot less and
it's the same.
Condo with houses is a littlebit different.
Most neighborhoods, even the80s neighborhoods, had at least
six different house types.
Sometimes they have basementsthat are not finished.
I did one a couple of years agothat had a basement spent,
(24:20):
spent $75,000.
I know you're rolling your eyesout there like who's got
$75,000 to finish the basement.
I did that because I knew thehome would sell around $425,000
as is, without the doubling thesquare footage.
All the floors needed doinganyway.
Anyway.
The kitchen needed a majorupgrade, all the walls needed
(24:41):
painting, everything else.
Well, gosh, darn it.
We sold that house for sixhundred fifty thousand dollars.
And now how did I take the riskto do that?
Because there was a house inthe neighborhood that sold for
six hundred fifty thousanddollars.
What was the difference betweenthat house and mine?
Um, the other house was twiceas big and for 75.
I mean, obviously that would bea major profit for you, correct
(25:04):
?
Now it's the other thing.
You don't have to do that.
We can do it for you throughthis program with the funding
partners up front.
Now, same thing if you're goinginto senior living.
It works the same way.
We can get you out in as shortas two weeks.
Guys, you get up to up to 70%on your first check.
Well, wait, that's soundinglike one of those investor cash
(25:24):
offers that I talked aboutbefore.
I know two-thirds of oursellers make more money than
with a conventional listingBecause of how this works.
We go in, we do the HGTV magic.
We've got a funding partnerthat provides all the money for
this.
I don't know how long thisprogram is going to last.
You guys Take advantage of itwhile it's out there, because it
almost seems to be too good tobe true, right?
(25:46):
And they've been doing it since2017.
This is not new.
That's eight years now, right?
And thousands of homes,thousands of homes through this.
So really think about it,because you can make a lot more
money for your home withoutdoing all of this.
And if you don't want to gothrough the program and you just
need a contractor because youthink some of these ideas are
(26:06):
good ideas and you know thatyour home needs a little love
and care, we've got thecontractors for you anywhere in
the country.
So just hit us up or send you alist of them.
We will even even most of us asrealtors, certainly all the
people in the listing royaltynetwork around the country and
in canada as well, most of themhave what we call crms
(26:29):
relationship database managementsystems where we're able to
communicate back and forward.
We can we can text mass text 10or 20 contractors or plumbers
or electricians or painters andsay please give our client a
call at this number.
You know how hard it is to gethold of a GC.
(26:49):
All of you who I hear this everysingle day, those of you who
are trying to remodel or getsomething done in the yard or
anything at all especially as inmany parts of the country,
spring is the busy sellingseason Just get it on now, guys.
Don't wait.
You're literally settingyourself up to make less money
(27:09):
because there's more competitiononce you get it on spring.
Don't do that, but that's awhole other show that I've done
many times.
Don't wait.
Time is not your friend rightnow.
Because of what's happening inthe market.
As more homes come on in thespring, that's gonna get even
tougher.
So if you need anything doinganywhere in the country, hit us
up.
We'll actually have them callyou.
(27:30):
I have sellers say to me thingslike I can't, I can't believe
it.
I've been trying to get hold ofsomeone to do xyz for six
months.
These people just don't call meback and then you call another
one that you're fed up with itand think, well, if they're that
busy they can't do the job forme.
We'll have two or three peoplecalling you that day.
So just reach out to us,828-333-4483, anywhere in the
(27:56):
country.
You don't have to be in themountains.
You might be in florida orcalifornia or toronto or
anywhere else.
We can help you, for it doesn'tcost anything.
We'll just have thosecontractors call you.
It's uh, it's pretty easy now.
If you've got something that'syou know, wacky, doodle and very
unusual, hey, we'll give it ago with that too.
(28:18):
It's all good.
So here we are, shiftingtowards a buyer's market and in
many cases, in many places,we're already in the buyer's
market.
That's the news, right?
So the time it takes to sellincreases when it isn't that
newest home on the market.
Most of us don't want to gothrough the pain in the butt
(28:41):
that it is to do those upgradesand, quite honestly, unless
you're doing it yourself andyou're very fast most of you
haven't remodeled.
I've remodeled 42 homes.
So you know, I've got my systemdown, I've got the speed there,
I've got the people I use use.
I've done it in miami, I'vedone it in san diego, I've done
(29:01):
it in ashville, north carolina,I've done it in dc, probably a
few more places.
I'm not even thinking of rightnow the uk.
Back when I was in the uk, Idid three of them in the uk, so
I've got my systems down.
I know what I'm doing.
I know how to get the rightbang for the buck.
I know how to remodel a kitchenon a budget and yet put all the
(29:22):
things in that somebody, eventhe luxury grade, would want.
I'll give you an example ofthat.
We can switch out hinges.
Listen, guys, if you're like,oh, I heard this thing on the
radio show that I can switch outmy European hinges those are
the ones that slot in the holeon the back of the door to the
soft close ones and they'll onlycost me about a hundred bucks
(29:44):
to do my entire kitchen.
That's true, but I'll give youa little tip, because we've all
made these mistakes.
That's what I mean about whenyou know what you're doing.
You've already made themistakes and learned from them,
right?
So don't just jump into aproject like this and think, oh,
I'm going to spruce up my houseto get it sold.
Here's why You're going to havea and I've seen this so many
times too you're going to have abathroom that's ripped out, and
(30:07):
the contractors will be like,yeah, we can get it done in
three days and weeks later it'snot finished.
How are you going to sell yourhome when that's ripped out or
not ready?
So be really, really careful,careful, or you'll order the
hinges.
Because you've heard it on theshow today.
Guess what?
There are 12, 14 differentsizes of those hinges.
You have to, you have to pullone out.
You have to take yourscrewdriver, get, take your
(30:29):
power drill, get that hinge out.
Look on the back of it.
It's got a number on it.
And when I say soft close, bythe way, that's when you open
you know how you'd open the doorand they go blank when I should
go and open one here so you canhear it.
But you know what I'm talkingabout.
It slams back shut.
People really like the softclose doors and it's so
inexpensive to do this.
(30:50):
But there's a number on theback of that hinge.
If you didn't know that and youwait a week for the hinges to
come and then you realize theydon't fit in, it's very
frustrating.
You got to send them back andeverything else.
So just know that if you'regoing to make that little change
, that makes a big difference.
That kind of thing is happeningnow.
Take that knowledge and applyit across the countertops.
(31:12):
Apply it across appliancesmaybe you even need appliances
taking it across how to paintcabinets so that they don't, so
that they look like brand newcabinets.
Take it across the right kindof hardware on the cabinet doors
.
Take it across the right kindof faucet to put in the sink.
Take it across the right kindof sink to get, or the waste
(31:33):
disposal to get, so, and that'sjust a kitchen.
Imagine all the rest of it.
So don't bite off more than youcan chew, especially right now
with the upgrades on your home,because we're in a declining
market in terms of pricing.
Of course, you know it's likewow, wow, wow.
No, it isn't Not.
If you're buying somethingbecause you want to buy it at a
(31:55):
lower price, there's a lot ofbuyers that have been sitting on
the fence for a long time.
Why?
Interest rates, of course, andthere wasn't much choice out
there, and you feel like you'rejumping into something without
much choice and you're justwaiting for something else to
come on the market.
Meanwhile, especially if you'rerenting, you're paying somebody
else's mortgage for them.
(32:16):
Don't be in that situation.
Let's get you in a house,especially if you intend to be
in the long haul.
Um, all history shows, andthere's never any guarantees in
life, apart from death and taxes, as we know.
Um, in 10 years time, your homewill be worth considerably more
than it is now.
Now, for the next three and ahalf to five and a half years,
not so, depending on what marketyou live in, but the vast
(32:39):
majority of the country that isnot.
So we're in a declining market,so I don't want you going out
and taking on a project that youhaven't done in 10 years.
Oh, I can do a kitchen.
I did one 10 years ago and thenshe goes.
Honey, it was actually 20 yearsago when we were in miami.
Don't bite off more than youcan chew, because it might take
(32:59):
you longer than you think, andeach month.
So the worst decline we had wasI think it was in August of
2007,.
It may have been 2008, where wedropped 0.9%.
Now that doesn't sound much,but it was almost 1%.
So drop 1% for 10 months andsee what that looks like.
(33:20):
So if you're in a $500,000 homeand that's the average in many
markets now is a $500,000 home,so it's only 5,000.
Honey, we're only losing 5,000.
How about?
In 10 months that's 50,000?
How about it continues over ayear and a half and that's
100,000?
And we know we had those dropsright.
(33:41):
So in most of the country wewent down between 30 and 33%.
Some markets went down more.
So take that 30% and make thatworst case scenario right.
I'm that worst case scenariogirl.
If I can deal with the worstcase scenario, I can deal with
anything.
That's how I feel, because youknow, at the end of the day, if
(34:05):
I've got let's say I've got a$600,000, I'm trying to make the
math easy here a $600,000 homeand I'm looking, I'm going to
make it 33% because a lot ofplaces I'm really doing that to
make the math easier, but in alot of places it did go down 33%
.
So that's a third right.
So my $600,000 home back in theday when it dropped to the base
(34:30):
, in that 2007 drop, when itstarted to drop, my home was now
worth $400,000.
Here's the other problem andthis is looking at history right
.
This has gone on over and overagain in history.
Speaker 2 (34:45):
Hey, sean Hannity here talking with the only real
estate agent in your market.
I recommend Rowena Patton withAll Star Powerhouse.
Now more than ever, buyers andsellers need an expert to
navigate this ever-changingmarket.
And what do you do to stand out?
Speaker 3 (35:01):
You know I got into real estate in 2007.
I've had a lot of experienceall of the way down and I sold
more homes than anybody else.
And I did that throughexperience, marketing,
negotiation, and in today'smarket you need that experience
more than ever.
Agents for the last two orthree years really haven't
(35:23):
learned a whole lot aboutanything that's difficult about
the market, Because you couldjust stick a sign outside the
door and put a lockbox on thedoor and boom, it's gone
tomorrow with three multipleoffers.
That is not the market we're inanymore.
Speaker 2 (35:36):
Call Rowena Patton right now at 828-333-4483 or
online at mountainhomehuntcom.
Speaker 3 (35:45):
I always like to err on the side of not being
conservative when I'm estimatingthings.
So write down $5,000 for you,granite.
If you're in a tiny kitchen ina condo or something like that,
it's not going to be that much.
It might be $2,000.
Just write down $5,000.
That gives you a big choicevariance.
And then I want you to get withyour real estate agent and look
(36:07):
at whether there's a variancein the price of homes.
If you're on a condo, that canget very tricky because many of
the condos are the same.
You've got three choices in thecondo building and that tends
to keep prices, not always, butmost often tends to keep prices
(36:27):
not flat but within a tightvariance.
In other words, if you sell acondo for $350,000, it's hard to
get $450,000 for a condo that'supgraded.
Does that make sense?
Because you could go in andupgrade it for a lot less and
it's the same condo.
With houses it's a little bitdifferent.
Most neighborhoods, even the80s neighborhoods, had at least
(36:47):
six different house types.
Sometimes they have basementsthat are not finished.
I did one a couple of years agothat had a basement spent
$75,000.
I know you're rolling your eyesout there like who's got
$75,000 to finish the basement.
I did that because I knew thehome would sell around $425,000
(37:09):
as is, without the doubling thesquare footage.
All the floors needed doinganyway.
The kitchen needed a majorupgrade, all the walls needed
painting, everything else.
Well, gosh darn it, we soldthat house for $650,000.
And now, how did I take the riskto do that?
Because there was a house inthe neighborhood that sold for
(37:29):
$650,000.
What was the difference betweenthat house and mine?
The other house was twice asbig and for 75,.
I mean, obviously that would bea major profit for you, correct
?
Now it's the other thing.
You don't have to do that.
We can do it for you throughthis program with the funding
partners up front.
Now, same thing if you're goinginto senior living.
(37:49):
It works the same way.
We can get you out in as shortas two weeks.
Guys, you get up to 70% on yourfirst check.
Well, wait, that's soundinglike one of those investor cash
offers that I talked aboutbefore.
I know two thirds of our sellersmake more money than with a
conventional listing because ofhow this works.
We go in, we do the HGTV magic.
(38:10):
We've got a funding partnerthat provides all the money for
this.
I don't know how long thisprogram is going to last.
You guys Take advantage of itwhile it's out there, because it
almost seems to be too good tobe true, and they've been doing
it since 2017.
This is not new.
That's eight years now andthousands of homes, thousands of
homes, through this.
(38:31):
So really think about it,because you can make a lot more
money for your home withoutdoing all of this.
And if you don't want to gothrough the program and you just
need a contractor because youthink some of these ideas are
good ideas and you know thatyour home needs a little love
and care, we've got thecontractors for you anywhere in
the country, so just hit us upor send you a list of them.
(38:53):
We will.
Even most of us as realtors,certainly all the people in the
listing royalty network aroundthe country and in canada as
well most of them have what wecall crms relationship database
management systems where we'reable to communicate back and
forward.
We can text mass text 10 or 20contractors or promos or
(39:17):
electricians or painters and sayplease give our client a call
at this number.
You know how hard it is to gethold of a GC.
All of you who I hear thisevery single day.
Those of you who are trying toremodel or get something done in
the yard or anything at allespecially as in many parts of
the country, spring is the busyselling season Just get it on
(39:40):
now, guys.
Don't wait.
You're literally settingyourself up to make less money
because there's more competitiononce you get it on in spring.
Don't do that, but that's awhole other show that I've done
many times.
Don't wait.
Time is not your friend rightnow because of what's happening
in the market as more homes comeon in the spring, that's going
to get even tougher.
(40:02):
So if you need anything doinganywhere in the country, hit us
up.
We'll actually have them callyou.
I have sellers say to me thingslike I can't believe it.
I've been trying to get hold ofsomeone to do X, y, z for six
months.
These people just don't call meback.
And then you call another onethat you're fed up with it and
think well, if they're that busythey can't do the job for me.
We'll have two or three peoplecalling you that day.
(40:26):
So just reach out to us828-333-4483.
Anywhere in the country.
You don't have to be in themountains.
You might be in Florida orCalifornia or Toronto or
anywhere else, we can help you.
It doesn't cost anything.
We'll just have thosecontractors call you.
(40:46):
It's pretty easy.
Now, if you've got somethingthat's you know, wacky, doodle
and very unusual, hey, we'llgive it a go with that too.
It's all good.
So here we are shifting towardsa buyer's market and in many
cases, in many places, we'realready in a buyer's market.
That's the news, right?
So the time it takes to sellincreases when it isn't that
(41:10):
shiniest, newest home on themarket.
Most of us don't want to gothrough the pain in the butt
that it is to do those upgradesand, quite honestly, unless
you're doing it yourself andyou're very fast most of you
haven't remodeled.
I've remodeled 42 homes, so youknow I've got my system down.
(41:31):
I've got the speed there, I'vegot the people I use.
I've done it in Miami, I'vedone it in San Diego, I've done
it in Asheville, north Carolina,I've done it in DC, probably a
few more places.
I'm not even thinking of rightnow the UK.
Back when I was in the UK I didthree of them in the UK.
So I've got my systems down.
I know what I'm doing.
(41:52):
I know how to get the rightbang for the buck.
I know how to remodel a kitchenon a budget and yet put all the
things in that somebody, eventhe luxury grade, would want.
I'll give you an example of that.
We can switch out hinges.
Listen, guys, if you're like,oh, I heard this thing on the
radio show that I can switch outmy European.
Guys, if you're like, oh, Iheard this thing on the radio
show that I can switch out myeuropean hinges, those are the
(42:14):
ones that slot in the hole onthe back of the door to the soft
close ones, and it'll only costme about 100 bucks to do my
entire kitchen.
That's true.
But I'll give you a little tip,because we've all made these
mistakes.
That's what I mean about whenyou know what you're doing.
You've already made themistakes and learned from them,
right?
So don't just jump into aproject like this and think, oh,
(42:34):
I'm going to spruce up my houseto get it sold.
Here's why You're going to havea and I've seen this so many
times too no-transcript.
(43:00):
You have to.
You have to pull one out.
You have to take yourscrewdriver, get, take your
power drill, get that hinge out.
Look on the back of it.
It's got a number on it.
And when I say soft close, bythe way, that's when you open.
You know how you open the doorand they go blank.
When I should go and open onehere so you can hear it.
But you know what I'm talkingabout it.
It slams back shut.
People really like the softclosed doors and it's so
(43:25):
inexpensive to do this.
But there's a number on theback of that hinge.
If I, if you didn't know that,and you wait a week for the
hinges to come and then yourealize they don't fit in, it's
very frustrating.
You got to send them back andeverything else.
So just know that if you'regoing to make that little change
, that makes a big difference.
That kind of thing is happeningnow.
Take that knowledge and applyit across the countertops.
(43:48):
Apply it across appliancesmaybe you even need appliances.
Taking it across how to paintcabinets so that they don't, so
that they look like brand newcabinets.
Take it across the right kindof hardware to put on the doors
uh, on the cabinet doors.
Take it across the right kindof force it to put in the sink.
Take it across the right kindof faucet to put in the sink.
(44:09):
Take it across the right kindof sink to get, or the waste
disposal to get, and that's justa kitchen.
Imagine all the rest of it.
So don't bite off more than youcan chew, especially right now
with the upgrades on your home,because we're in a declining
market in terms of pricing.
Of course, you know it's likewah, wah, wah.
No, it isn't not.
(44:30):
If you're buying somethingbecause you want to buy it at a
lower price, there's a lot ofbuyers that have been sitting on
the fence for a long time.
Why?
Interest rates, of course, andthere wasn't much choice out
there, and you feel like you'rejumping into something without
much choice and you're justwaiting for something else to
come on the market.
Meanwhile, especially if you'rerenting, you're paying somebody
(44:52):
else's mortgage for them.
Don't be in that situation.
Let's get.
Let's get you in a house,especially if you intend to be
in the long haul.
Um, all history shows, andthere's never any guarantees in
life, apart from death and taxes, as we know.
Um, in 10 years time, your homewill be worth considerably more
than it is now.
Now, for the next three and ahalf to five and a half years,
(45:14):
not so depending on what marketyou live in, but the vast
majority of the country.
That is not.
So we're in a declining market,so I don't want you going out
and taking on a project that youhaven't done in 10 years oh, I
can do a kitchen, I did one 10years ago and then she goes.
Honey, it was actually 20 yearsago when we were in Miami.
(45:36):
Don't bite off more than youcan chew, because it might take
you longer than you think, andeach month.
So the worst decline we had wasI think it was in August of 2007
.
It may have been 2008, where wedropped 0.9%.
Now that doesn't sound much,but it was almost 1%.
So drop 1% for 10 months andsee what that looks like.
(45:58):
So if you're in a $500,000 homeand that's the average in many
markets now is a $500,000 homeso it's only 5,000.
We're only losing 5,000.
How about in 10 months?
That's 50,000.
How about it continues over ayear and a half and that's
100,000.
And we know we had those dropsright.
(46:19):
So in most of the country wewent down between 30 and 33%.
Some markets went down more.
So take that 30% and make thatworst case scenario right.
I'm that worst case scenariogirl.
If I can deal with the worstcase scenario, I can deal with
anything.
That's how I feel, because youknow, at the end of the day, if
(46:43):
I've got let's say I've got a$600,000, I'm trying to make the
math easy here a $600,000 homeand I'm looking, I'm going to
make it 33%, because a lot ofplaces I'm really doing that to
make the math easier, but in alot of places it did go down 33%
.
So that's a third right.
So my $600,000 home back in theday when it dropped to the base
(47:09):
, in that 2007 drop, when itstarted to drop, my home was now
worth $400,000.
Speaker 2 (47:17):
Hey, sean Hannity here talking with the only real
estate agent in your market.
I recommend Rowena Patton withAll Star Powerhouse.
You know it's more importantthan ever that you have your
house in top condition when yousell it.
Can you give some suggestionson how to do that?
Speaker 3 (47:33):
You know, it's always important to get your home in
top condition.
You've probably heard of acertified pre-owned car, a CPO
car.
They've been around for 30years.
We all pay 3% to 5% more for aCPO car, so why are we throwing
house on the market when wedon't know what is wrong with it
?
We're not fixing anything,which is fine.
(47:57):
We can just disclose thosethings.
By the way, it's always alwaysimportant to make sure that it's
prepared properly.
That's why I startedcpoexpertscom back in 2007.
It's more valuable today thanever great update.
Speaker 2 (48:05):
thank you for keeping us informed.
Call Rowena Patton right now at828-333-4483 or online at
mountainhomehuntcom.
Speaker 3 (48:18):
Now I want to give you some examples of people that
we've worked with that havechosen the Senior Living CPO
program.
I've changed the names forobvious reasons and giving you
the overview of their choices.
So there's Joan, who's 74, andshe's an active senior and a
widow who feels isolated in herhome and she moved into
(48:41):
independent living where nowshe's got all these new
friendships, daily activitiesand obviously that
maintenance-free lifestyle.
And now there's David and Marywith health challenges, and
David's 82 and Mary's 80, andthey can no longer care for each
other at home and they've movedinto assisted living for that
daily support and just to takethat stress away.
(49:04):
We've got Richard, who's 78,who is in recovery.
So after breaking his hip, heneeds some short-term rehab,
which is also very common so hemoved into a skilled nursing
facility where he regains hisindependence.
Sometimes people choose not togo back in their own home.
At that point I'm actuallyhelping a couple whose mother is
(49:28):
in that situation right now.
I helped them sell the house agazillion years ago and now mom
is going into a senior livingcommunity and they've asked me
to help with that and gettingher home sold just in the last
week.
Then we've got Margaret, who's81, moving into a memory care
community.
Margaret has Alzheimer's andher son, jason, can no longer
(49:50):
care for her alone at home.
It can be very, very difficultand also can be very hard on
your health as the caregiver.
It's very, very common for thecaregiver to get heart problems,
certainly stress and depression, and just finding it really
hard being a caregiver.
Not everybody's built for that.
(50:11):
I'm not sure anybody's builtfor that, quite honestly.
And then there's John, who justwanted maintenance-free living.
He's 70 years old, he's active,he's just tired of home
maintenance.
So we found him a 55-pluscommunities.
They are out there.
We've got agents in the ListingRoyalty Network who can help
you all over the country.
So now he plays golf, hetravels, he enjoys that vibrant
(50:40):
lifestyle.
He's 70 years old, he's not 170.
And while we're, when we'reyounger we may think 70 is a
long way off and um, it's reallyold.
But guess what, when you're 70it doesn't always feel that way.
So then we've got Sam and Lindaand they're just downsizing
which I like to callright-sizing for affordability,
and they needed a lower-costoption.
So they chose seniorcooperative housing and that
(51:03):
reduces expenses while stayingindependent.
These aren't availableeverywhere in the country but
they are available in someplaces.
We've got Evelyn, who's 85, whowanted a faith-based community
where she was at.
After losing her husband, shesought a place that had that
(51:23):
spiritual connection.
So she moved into a faith-basedsenior living community and
gets that comfort and purpose.
Speaker 4 (51:27):
No matter what the media says about the housing
market or the bad advice thatcomes from people who know
little to nothing about realestate, life happens and there
are times you have to sell yourhome.
Speaker 5 (51:36):
Here's what you should do.
I'd talk to our friend RowenaPatton of All Star Powerhouse.
Speaker 4 (51:41):
She's extremely knowledgeable and she's an
expert in the Asheville NorthCarolina area.
Speaker 5 (51:46):
Rowena Patton is like the guidance counselor of real
estate.
Speaker 4 (51:49):
When life happens, it's great to know you have an
experienced local agent who hasdealt with situations like yours
before, someone who sells morethan 10 or 15 homes a year.
As a real estate investor, Iprefer local knowledge as a
resource that you can rely on.
Speaker 5 (52:03):
Find out how much your home's worth in today's
market.
No need for lengthy interviewsand long wait times.
Just go to the website and getyour home's value in seconds.
You'll probably find your homeis worth more than you thought.
Speaker 4 (52:15):
Rowena can even give you an instant cash offer on
your home.
Speaker 5 (52:19):
Don't hesitate, contact Rowena Patton's all-star
powerhouse.
Visit mountainhomehuntcom.
That's mountainhomehuntcom.
Speaker 3 (52:28):
That's a wrap for today's show and thank you so
much for tuning in.
I'm so proud of you forinvesting the time to learn more
about selling your home orhelping someone else in your
life, whether they're a senioror not, navigate this really
important and sometimes verystressful transition.
With information comes power,and when you realize that you're
(52:50):
in the driver's seat equippedwith the right knowledge to make
smart, intelligent decisions,this next chapter will be a
whole lot less stressful andyou'll walk away with more money
in your pocket to previousshows on topics like selling
your home, remodeling your homeand what to do if you're
(53:11):
building a home, and many morehelpful topics at
realestatenewsradiocom.
That's realestatenewsradiocom.
I really appreciate youspending this time with me on
the radio and I can't wait to beback with you next week.
Same time, same place.
See you on the you next week.
Speaker 1 (53:33):
Same time, same place .
See you on the radio next week.
This has been the Plain EnglishReal Estate Show with Rowena
Patton.
Visit Rowena and post yourquestions at RadioAshevillecom
or call her at 828-210-1648.
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