May 4, 2025 • 53 mins
Are you paying too much in property taxes? The shocking truth is that 40.5% of homeowners across America are overpaying—often without even realizing it. This financial drain affects not just your monthly budget but can significantly impact your home's marketability when it's time to sell.
Property tax assessments, determined by local assessors who may never step foot inside your home, frequently fail to reflect current market values. Many homeowners discover their properties have incorrect square footage, outdated features, or other errors that artificially inflate their tax burden. The good news? You have recourse, and taking action could save you hundreds or even thousands of dollars annually.
The current real estate landscape reveals a tale of two markets. While Northeast regions maintain relative stability, Florida and Texas are experiencing significant shifts downward. In Florida alone, condo prices have declined in 92% of housing markets, with single-family homes falling in 66% of markets. This isn't 2008 all over again—homeowners today have record equity and fixed rates—but we're witnessing a natural market correction that demands attention if you're considering selling.
One of the most powerful strategies for today's sellers is adopting the Certified Pre-Owned approach. Just as we've paid premium prices for certified pre-owned vehicles for decades, homes that undergo pre-inspection create transparency that builds buyer confidence. With approximately one-third of conventional listings dropping out due to inspection issues, this approach helps your home stand out and sell more smoothly in an increasingly competitive market.
Recent natural disasters have further complicated the housing landscape. From Hurricanes Helene and Milton to devastating wildfires and floods, these events have strained insurance markets, shifted migration patterns, and prompted regulatory changes that affect homeowners nationwide.
Don't let inaccurate assessments drain your finances or market shifts diminish your home's value. Visit allstarhomevalue.com today to get a free estimate of your home's market value, check the accuracy of your property data, and take the first step toward ensuring you're not paying more than your fair share. Our team stands ready to guide you through these complex challenges and help you make informed decisions in today's evolving real estate market.
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Transcript
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
(00:20):
would trust, rowena Patton.
Speaker 2 (00:22):
Welcome back to the Real Estate News Radio Show.
I'm Rowena Patton, your trustedguide in the world of real
estate.
Today we're tackling a pressingissue that affects homeowners
nationwide.
Are you being ripped off onyour property taxes?
Recent studies reveal that asignificant number of homeowners
are overpaying on theirproperty taxes.
(00:44):
Number of homeowners areoverpaying on their property
taxes and very often withouteven realising it.
So let's delve into howproperty taxes are assessed, why
discrepancies occur and whatyou can do to ensure you're not
overpaying.
So let's look at understandingproperty tax assessments.
Property taxes are calculatedbased on your home's assessed
(01:04):
value, determined by localassessors.
This value is then multipliedby the local tax rate to arrive
at your annual tax bill.
However, assessments may notalways reflect the current
market value, leading topotential overpayments.
A recent report indicates that40.5% of properties in the US
(01:26):
may be over-assessed, withhomeowners potentially
overpaying by a median of $539annually.
So it doesn't just mean payingmore in taxes.
It can also affect your home'smarketability.
Of course, here we are in theseason when many of you are
thinking about selling your home, and a higher tax bill can
(01:49):
deter potential buyers, makingyour property less competitive
in the market.
It's another factor in therewhen you're going to sell.
Moreover, the burden ofoverpaying can strain household
budgets, especially whencombined with other rising costs
like insurance and maintenance,and what with all the interest
rates going up over what theywere just a few years ago.
(02:09):
So to assist you in evaluatingyour property's assessed value,
we've developedallstarhomevaluecom.
That's allstarhomevaluecom?
It's a free tool.
It provides an estimate of yourhome's current value, allowing
you to compare it with theassessor's valuation Now for a
(02:31):
comprehensive appeal.
If you're going to do that,it's crucial you reach out to us
to supplement this with.
You know we've got comparableproperty data we can put in
there and our team can provideyou with recent sales of similar
homes, really strengtheningyour case for a reassessment.
Obviously, you know we can dothat locally, wherever we're at
(02:53):
in the country, if you discovera discrepancy between your
home's market value and itsassessed value.
Many times they're doingdrive-bys and you know you may
have added some square footageor something else that's in
there that's not tracking right.
So you'll also see that atall-star home value, by the way,
when you go on there.
It does have a part in there.
(03:15):
It's why I chose thisparticular valuation tool
all-star all-star home valuecom.
The reason I chose this one isbecause you can change the data
on the backend.
You can do it.
So if it comes back with, youknow your valuation is this
based on this size.
You can change the size andeverything else.
So go I mean it's free guys, gohave a look.
(03:37):
Allstarhomevaluecom, if youneed to call us.
Maybe you're thinking aboutselling or you're concerned the
tax value is not right orsomething like that.
828-333-4483.
We've got people standing by24-7.
So if you do discover adiscrepancy between the home's
market value and its assessedvalue and maybe it's not the
(03:59):
right beds or baths or the rightsquare footage, you often see
that with it being incorrect onthe internet.
So what you usually do is stepone, gather the evidence.
So get recent sales data ofcomparable properties.
Of course we can do that foryou and then you go ahead and
file a petition.
You submit an appeal to yourlocal assessment board within
(04:22):
the designated time frame.
That's important.
We can help you with that aswell, wherever you are and then
you attend a hearing so youpresent your case not always.
Sometimes you can mail it in.
You present your case supportedby the evidence that you've
gathered.
Many homeowners havesuccessfully appealed their
property assessments and thiscan result in substantial tax
(04:44):
savings.
So we have one in Texas where arealtor challenged $150,000
increase in her home's assessedvalue and managed to reduce her
tax burden significantly byproviding accurate comparables.
So taking the initiative toreview and, if necessary, appeal
your property assessment canlead to some pretty good
(05:08):
financial relief in there.
So don't let that inaccurateproperty assessment drain your
finances.
Visit allstarhomevaluecom todayto get a free estimate of your
home's market value.
Of course you might want to usethis if you're selling as well.
Go ahead and look at your valuein there.
When you do that, I do go inand check them on the back end,
(05:30):
because any of these instantvaluations that are out there
aren't absolutely accurate.
So we need to look at it and go.
Does this make sense based onall of the other pieces?
You know it's that humanelement where we actually put
our eyes on it.
If you find discrepancies,reach out to us.
On the back end.
(05:51):
It does actually allow you tochange the size and the beds and
baths, all of that.
So our team's ready to assistyou with the necessary
comparables and guide youthrough the appeal process.
We can do that anywhere in thecountry, ensuring your property
is fairly assessed not onlysaves you money but enhances
your home's appeal for futurebuyers.
Whether that's in 10 years oryou're thinking about selling
(06:12):
this season, same thing.
Start your journey atallstarhomevaluecom.
Of course, we'd be delighted tocome out and see your home
828-333-4483.
We can book an appointment foryou anywhere in the country to
take a look.
If you're sitting there going,oh yeah, but we've got to do
(06:33):
this and we've got to do thatbefore we get ready to sell it,
let an agent come out and see itfirst.
Please, please, please.
Because many of you arespending time, money and energy
you don't need to be please.
Because many of you arespending time, money and energy
you don't need to be spending.
We're in a flattening and inmany markets in the country
(06:53):
right now, declining market.
We've seen declines in Florida,for example, of 15 and 17%.
We've seen declines in Texas ofeven more than that so far.
I know a lot of people aresaying, oh, there's no declines
going on.
They are, and I can show youthe data on that so many places
in the country it's really onlythe Northeast, so Connecticut
Mass.
You know areas that they're inthe Northeast.
(07:14):
Some of them are still poppingalong and selling homes within
30 days, all that good stuff.
They're not tending to get themultiple offers that they were
getting before.
And of course I'm doing a broadbrush here.
Real estate really is local.
It's block to block, never mindtown to town and city to city,
or is it city to city and townto town?
It's all right.
(07:35):
You know what I mean.
Go get your value atallstarhomevaluecom.
If you've just tuned in, this isRowena Patton on the Real
Estate News Radio Show and youcan reach us 24-7, 828-333-4483.
Wherever you're at in thecountry, we can help you with
(07:55):
where you're being ripped off onyour taxes.
We can help you with gettingyour home sold.
We've sold many, many thousandsof homes across us all.
I think we're at 3,600 orsomewhere in that region now in
Western North Carolina.
You can only imagine how manyhundreds of thousands that is
(08:16):
across the country.
We know what we're doing whenwe're selling a house.
If you're thinking about sellingyour house now because of
market conditions I was justmentioning that in many places
where a flat or declining market, choose someone with experience
.
This is not the time to youknow.
Give it to the realtor down thestreet that got their license
(08:38):
last week.
I mean, I'm not being rude,that realtor down the street,
come work with me.
I'll mentor you.
We have mentors across thecountry that will help you.
We have amazing programs thatwill get you into business fast
and really train you at a highlevel.
But right now, if you'reselling what is most likely your
biggest asset, choose an agentwith experience.
(09:07):
Welcome back to the Real EstateNews Radio Show.
I'm Rowena Patton guiding youthrough the ever-evolving
landscape of real estate andwe're delving into the current
state of the US housing marketnow, highlighting areas of
stability.
There definitely are stillareas of stability, especially
in the Northeast, and there'sothers experiencing big shifts,
(09:30):
like Florida and Texas.
So, as of May 2025, in caseyou're listening to this on the
podcast we air live and thenpodcast afterwards the housing
market is kind of strange.
It's a nuanced transition, iswhat we call it, and some
regions are maintaining thatbalanced dynamic between buyers
(09:52):
and sellers.
That's primarily in theNortheast.
Others are witnessingsignificant changes, especially
Florida and Texas, so let's talkabout that for a second.
And Texas so let's talk aboutthat for a second.
Let's talk about Florida'smarket dynamics.
So Florida was once a hotspot,all of a year ago, or certainly
two years ago and for a longtime before that for rapid real
(10:15):
estate appreciation, and nowit's seeing very much a calling
trend.
Condo prices have declined inabout wait for this 92% of
Florida's housing markets.
Single family home prices fellin 66% of Florida markets.
That's significant guys.
So the good news is, if youwere thinking about retiring in
(10:40):
Florida or moving to Florida,well, that looks like we've got
some home prices coming downthere and particularly homes
have been sitting for a longtime.
It really takes a long time tosee those decreases.
Here's why In the market and Iknow I talk about this every
week, but I look at price cuts.
Price cuts are so important asa leading indicator.
(11:02):
When we see price cuts now,that means the people out there
that have homes are cutting theprice of their homes.
That was a bit of a word salad,wasn't it?
Of course, and however, untilthat home closes might be six
months, especially if you're inthe markets where it's taking
longer for a home to sell andmaybe it's a more expensive home
(11:24):
they tend to take longer tosell as well.
So we're not going to see thosecomparable amounts actually
land until the fall or even thewinter, but the problem is, by
the time you see those lowerprices and I'm not talking about
in Florida or Texas, becausewe're already seeing that in a
lot of those markets now youknow it's already waving the
(11:47):
flag, guys, all over the country.
I don't say this to make younervous.
It's a natural economic shift.
It's seven to 11 years.
We're way overdue.
And there's a lot of people outthere talking about oh, there
won't be a crash, and therewon't be this and there won't be
that.
I understand, I don't thinkthere's going to be a crash.
I think there'll be a marketcorrection, which is a normal
(12:08):
thing to happen.
Clément Juglar 1860, so until11 years.
He set it up then.
Not much has changed since.
Now, does the housing marketexactly follow the economic
cycle?
No, but when you see those, Imean, think about it.
It's common sense, guys.
When you see those stock marketnumbers, it makes people nervous
and therefore not as likely topurchase a home.
(12:31):
Pretty straightforward, right?
And you've always got peoplethat need to sell.
What do I mean by that?
Maybe they're getting a divorce, maybe they have a new family,
maybe they're getting married,maybe somebody has passed away.
There's always, you know,reasons.
Maybe you want to move to be bythe grandkids, or the grandkids
(12:51):
want to move to be by thegrandparents.
There's always reasons peoplehave to move.
Basically those people and thatmay only be 20% of the market
say I'm completely making upthat figure, but it's a
percentage of the market.
That percentage of people aregoing to sell the house whatever
it takes, which means thatthey're cutting their price
(13:12):
right.
So that's going to bring downcomparables for everybody else
and that's how the appraisalsare done and that's what people
pay.
So even if you've got peoplesay, yeah, but we've got cash
buyers coming in, so it doesn'tmatter.
So even if you've got peoplesay, yeah, but we've got cash
buyers coming in, so it doesn'tmatter, any cash buyer that has
(13:34):
an agent that has half a brainwill advise you to have an
appraisal on the home, even whenyou're paying cash.
Why wouldn't you do that?
To make an intelligent decision?
Even if it appraises it lessthan you're paying, at least
you're going armed in with theright decision at that point.
That's why, since 2007, I'verun CPO experts around the
country.
(13:54):
Cpo is not cash CPO that wetalk about all the time.
Certified, pre-owned is whereyou decide to get the inspection
and possibly the appraisal andoffer a home warranty up front.
That's the trifecta.
Yes, it does cost money.
You don't have to fix anythingit makes.
We just disclose it.
Everybody goes in eyes wideopen.
(14:16):
It makes for a much more stressfree sale.
Homes drop out up to a third ofthe time with a conventional
listing.
So if you've got your homelisted right now and you haven't
done that pre-inspection, Iwould urge you to do it.
You don't want to find out whenit's under contract.
That's really not a good idea.
So when you have a third ofthem dropping out, the primary
(14:37):
reason is the inspection, so youdon't want that to happen.
Then you have a stigmatizedlisting.
What does that mean?
A stigmatized listing?
What does that mean?
A stigmatized listing is onewhere people go hey, I saw that
listing of yours, I was reallyinterested in it, and we get
calls like this all the time, bythe way, and we saw it went off
the market.
What's wrong with it?
Those are the questions thatare asked.
(14:57):
Stigmatized listings generallytake longer to sell and you're
going to see a shift downwardsin price.
Take longer to sell and you'regoing to see a shift downwards
in price.
An inspection in most parts ofthe country costs between $400
and $600.
It really is a good investment.
You may be saying, oh, I've gota new home.
Even with a new home, thingscome back on the inspection
report.
(15:17):
The average inspection reporthas 40 or 50 items on it, guys.
40 or 50 items Now.
A lot of them are you know alittle.
You could call them nitpickythings.
They're often cosmetic things,but there are a lot of things
that come back and remember,think about this Again, it's
common sense.
I'm not telling you anything youdon't already know.
Here.
We are in a market that's flatand declining.
(15:40):
Even if you don't believe thatand maybe you're listening in
the Northeast today, by the way,if you've got any friends that
should be listening to thisrealestatenewsradiocom,
realestatenewsradiocom.
It will also be broadcast afterthe event.
You can find all the old showson there as well.
You can also listen live ifit's 10 am on Saturday in May
(16:02):
2025, right now and you'relistening to it live.
And we're talking about themarket factors.
What is going on?
What's going on in Florida,what's going on in Texas,
particularly because those arethe biggest shifts right now.
And you know, in Miami, inTampa, we're seeing a big
decline, obviously.
(16:22):
So 8% is a lot.
Think about that, what thatmeans.
On even a $500,000 condo oreven a $200,000 condo, you know
you're really seeing a decline.
Not only that, we were talkingabout the fact that many people
have to move.
When people have to move, it'smore flexible in terms of what,
the amount that you can buy itfor.
(16:43):
Obviously, it's just supply anddemand.
So now, you know, look at thosemarkets when things are
declining, because it's notgoing to continue forever, right
?
So that's really worthwhilethinking about.
It could be very good forbuyers out there in the market.
So let's talk about Texas for aminute.
So let's talk about Texas for aminute.
Definitely showing signs ofdeclines and some stabilization
(17:09):
in different markets.
But again, it depends on whereyou are in Texas.
So go ahead.
You know we mentioned earlieron allstarhomevaluecom.
Allstarhomevaluecom, go, getyour values.
We can do a deep dive into itif you'd like.
We have people sending by 24-7.
Yes, really, 828-333-4483 ifyou've got any questions on that
(17:34):
.
So what's driving these oddmarket dynamics?
So economic uncertainty.
We all know what's going onthere.
We're still not through tariffsyet.
That could be another month,two months, three months.
Economic you know the market'sgoing up and down.
It's led to a 5.9% drop inexisting home sales in March
2025.
Now, I really don't like thesenational figures.
(17:55):
You'll know that because you'vebeen listening to me for a
while.
If you have been you know thatI always say I don't like the
national figures.
Real estate is local.
It really is local.
So go ahead and start bygetting your value.
That's allstarhomevaluecomA-L-L-S-T-A-R homevaluecom.
And then mortgage rates.
(18:17):
These are persistently high.
They're averaging in the high60s and they've deterred
potential buyers.
Now, remember they say that youknow when you're getting a rate
on a house, they're probablygoing to come down.
You can always refi at thatpoint If you really need to move
somewhere.
Don't put it off for a year ortwo waiting for the mortgage
(18:40):
rates.
It doesn't make a whole lot ofsense, right?
And then we've got climateconsiderations, particularly in
Florida, for example, increasedflooding risks.
It doesn't make a whole lot ofsense, right.
And then we've got climateconsiderations, particularly in
Florida, for example.
Increased flooding risks isreally affecting by perceptions
and property values.
We're going to go into anothersegment here in a minute,
talking about the nationaldisasters that have happened in
the last year and what that'sdone to real estate.
(19:01):
What I do want to talk about is2024, because this was a big
one.
So the Champlain Towers in aSouth this is a South Condo
Towers in Surfside, florida,that's North Miami it partially
collapsed.
It killed 98 people.
It was an awful thing.
So many things have happenedsince then.
(19:22):
We've had so many disasters.
It's almost been, you know, putin at the backs of our memories
, but that killed 98 people.
That had a massive, massiveripple effect across condos in
South Florida and all overFlorida.
In fact, it even brought a newbill around.
So investigations revealed thatlong-term degrading of
(19:44):
reinforced concrete in thestructural support in the
basement level parking garage,as by the pool deck, there was
water penetration, corrosion ofthe reinforcing steel.
All of that was a contributingfactor, but it killed almost 100
people.
The problem had already beenreported in 2018.
This is three years earlier,and then, in 2021, it was noted
(20:19):
as much worse.
There was a $15 million programof remedial work that had been
approved before the collapse,but it hadn't been done, hadn't
even been started.
So is land subsidence,insulation, reinforcing steel,
corruption during constructionwho knows?
However, the big news here isthat, in response to that
tragedy, florida lawmakersenacted Senate Bill 4D in 2022.
This mandates, milestoneinspections and reserve studies
(20:39):
for condominium buildings over30 years old, and I believe that
also it has to be over threefloors, so the two-story
buildings are not affected bythis, I believe, in certain
areas.
But definitely check that outif you're affected by it.
So it was aimed at enhancingsafety.
However, now we're seeing itrolling out as many of these
(21:02):
actions lead to significantfinancial burdens for these
condo owners throughout Florida.
Many associations have imposedsubstantial special assessments.
I know of one in FortLauderdale, for example,
substantial special assessments.
I know of one in FortLauderdale, for example, that is
$120,000.
And because this is all new,one person, a special assessment
(21:22):
, $120,000 for everybody in thebuilding.
Here's the problem.
The HOAs are not necessarilyset up to be able to manage
something like this.
So I know of one where they'resaying oh, you can't sell your
condo before you pay theassessment.
Well, in most cases, what thatshould be is that no, you can
sell it, you can put it up forsale.
(21:42):
However, the assessment's gotto be paid before it closes.
Does that make sense so you cantake it out of the profits?
Now, unfortunately, if somebodybought recently and they didn't
put much money down, then thatcould actually leave them at a
loss.
This is what happened last timearound, when prices came down,
and especially in condobuildings, sometimes in
(22:05):
townhouses and houses too, ofcourse, we ended up in a short
sale situation where peoplebought at the height.
They didn't put much money downand then whatever happened that
led up to them having to sell.
When you have that small numberof people, you know maybe
there's medical issues orsomething going on they can't
afford to pay the assessment orjust they've got medical issues.
(22:28):
You know they bought a newhouse last year.
They've got medical issues.
Now they can't work and theyhave to sell the house.
That's going to pull downcomparables for everybody, and
especially if they're in thatsituation where they bought at
the height, at the height, andnow they're in one of these
markets where it's it's dropped.
Now you're in a short salesituation.
That's not good for comparablesand we're going to see more of
(22:50):
this rolling through, guys, inthe next six months or so.
So if you you're thinking aboutand it's not just going to go
away in six months after thatit's not how the cycle happens,
at least not as history tells us.
You know we're going to seethree to five years of decline.
Maybe something more remarkablewill happen.
We'll see two to three years ofdecline.
But the point is you're goingto wait, be waiting out a long
(23:12):
time to see the kind of moneythat you can get now.
So if you're thinking aboutselling and you know you don't
want to hold onto your house forseven years, 10 years, until
it's back at the peak again,sell it now.
Start off at All Star Home ValueA-L-L-S-T-A-R.
Allstarhomevaluecom.
Get your value.
I will go in on the backend.
(23:34):
You know that's going to.
Whether you feel like you'reoverpaying on taxes or you just
want to start off getting yourvalue.
Either of those things willhelp you.
We can do that for you anywherein the USA.
So, for example, for buyers,the current market offers have
increased negotiating power inFlorida.
So many sellers are open toconcessions.
(23:56):
Many more sellers are doingseller financing now.
So for sellers it's crucial toprice homes competitively and
consider market trends toattract potential buyers.
Additionally, understanding thefinancial, health and reserve
status of condominiumassociations if you're going
into a condo or townhome, oreven if it's an HOA with single
(24:16):
families it's becomingincreasingly important,
especially in those regions likeFlorida where new regulations
have heightened the focus onbuilding safety and maintenance,
but, guys, it's done itnationwide.
When 98 people die, you onlyusually hear of that in a third
world country, you know, so it'sthat's had ramifications around
the country.
So understanding the regionalnuances and your agents can help
(24:38):
you with that is essential formaking these informed real
estate decisions and, whetheryou're considering buying or
selling, staying abreast oflocal market conditions will
empower you to navigate this2025 housing landscape
effectively, which obviouslythat's so important.
(25:00):
So tis the season.
Let's talk about getting yourhome ready for sale and what
that looks like.
So the first thing I want youto do is go to
allstarhomevaluecom anywhere inthe usa to kick it off, and what
that will show you, if nothingelse, is whether the grand old
(25:22):
internet has got your data right.
Are your beds and baths right?
Um, is your square footageright?
All of the other data on thereis it correct?
Because then you can correct it.
We can even show you how tocorrect it on Zillow.
That's another important one,not because we necessarily
approve of or like their homevalues, but a lot of buyers out
(25:43):
there are looking at it, sothat's another important one.
I had that conversation with ahome seller just this week.
Here's another thing that I wantyou to think of.
Do you have everything in place?
Do you have your permits?
Maybe you did some remodelingon the home?
Dig out your permits.
Maybe you're in an area whereyou have a road maintenance
(26:05):
agreement.
Maybe you know you don't have aroad maintenance agreement.
However, you've been thinkingabout putting one in place for a
while.
Just note occasionally you'llget it through.
But note that very often youneed a road maintenance
agreement, especially for agovernment loan.
Why?
Because the banks say this isreally our house, we're lending
(26:26):
you the money and we've got tobe able to have access to it.
It's that simple.
And if there isn't a roadmaintenance agreement in place,
who takes care of the road?
Now, over the years in themountains of Western North
Carolina, I've heard things likewell, jimmy with the tractor
takes care of it.
Here's the problem.
The banks aren't really lookingat that.
We love the fact.
(26:47):
Thank you, jimmy, for takingcare of the road.
That's a wonderful thing whenneighbors pitch in together.
Some of you will know thatoccasionally that causes issues.
What happens if Jimmy movesaway?
Maybe Jimmy moves away to thepearly gates.
Sorry, jimmy, if your name'sJimmy today, I'm sorry, but you
(27:08):
know what I'm saying?
What if Jimmy isn't aroundanymore to take care of the road
?
You need something in place.
It's all about responsibility.
By the way, it doesn't costvery much.
It's a few hundred dollars andyou can all do it together those
of you that have rights of way,those of you that own the road.
Get it done now, because it'sgoing to affect all of you, most
(27:28):
likely when you come to sellyour house for obvious reasons,
right?
They want to know there's somethings in there.
You don't have to agree to payan amount.
People think that you have to,oh, pay $500 a year or something
.
You can do that and put it inan account so that when there's
any issues, there's money totake care of the issue on your
roads, especially if it's gravel, because obviously that can
(27:50):
wash away and everything else.
However, you don't have to do.
That is the good news, right?
So you can just say we all take, you know, 20% responsibility
or whatever it is.
Or we have a meeting once ayear or once a quarter to assess
the nature of the road.
Talk to your attorney in yourlocal area as to how to put this
(28:11):
together.
The other thing I highlyrecommend is certified pre
Pre-Owned.
If you want to do a deep diveon this, I have a best-selling
book called Find your UniqueValue Proposition.
It's written for agents.
It's now free on the ListingRoyalty app.
The Listing Royalty app is aplatform that I developed for
(28:32):
agents around the country who'vebeen in real estate for a long
time.
It's free for agents.
It's something that gives backto agents those of us who've
been around for a long time howwe can take that experience and
bottle it, if you will, andallow you know.
Agents who are newer or thoseof us I learned from it all the
(28:52):
time I've been in real estatesince 2007.
It doesn't matter.
You can always be learning.
You always want to be learning.
That's how we serve our clientsin a better way, and in a more
national manner as well, becauseoften our clients are coming in
from somewhere else and we haveto be able to work with those
other agents.
If you want to read aboutcertified pre-owned, you can
(29:13):
look up in the app store ListingRoyalty.
It's called Listing Royalty.
That's the app, and the book iscalled Find your Unique Value
Proposition.
What's that got to do with youselling your home?
You say you can read thesection on certified pre-owned
homes.
It's in the book.
It's free.
The next section is Cash CPO.
So if you want to learn aboutthe cash offer, it's all in
(29:35):
there.
The best selling book is nowfree.
On the Listing Royalty app, youhave to log in.
You might have to reach out tohave the extra data unlocked for
you.
It's called Listing Royalty.
If you've got any realtorfriends, real estate agent
friends, let them know about theListing Royalty app.
I took a hiatus over theholidays at Christmas last year
(29:59):
and built out the app and we'regetting a lot of eyeballs on it.
There's a lot of CEOs on therethat are talking about real
estate for real estate agentsCEOs of some of the biggest real
estate companies in the country, such as Leo Perea, who is the
CEO of eXp, the company I'm withcurrently.
Gary Keller is on there KellerWilliams, it's all.
(30:23):
On the listing royalty app, itis aimed at agents.
However, for you as a seller,it's really worthwhile reading
the portion about certifiedpre-owned homes.
Why it's so powerful whenyou're selling your home.
At the very least, I want youto think about getting the
pre-inspection you it's sopowerful when you're selling
your home.
At the very least, I want youto think about getting the
pre-inspection.
You do not have to fix items, wecan disclose them.
Why would we want to disclosethem?
(30:44):
I like to send the inspectionreport when an offer comes in.
Here's why I send theinspection report, with your
permission, of course, as theseller.
But I'll explain to you why.
We send over the inspectionreport and we say to the buyer's
agent or to the buyer we wantyou to take a look at this.
We took the price of the houseinto account and we did the
(31:06):
pre-inspection.
So everybody goes in eyes wideopen.
We explain about certifiedpre-owned cars.
There's a reason why everydealership has certified
pre-owned cars and there's areason why we've paid for 20, 30
years, now 6% more for a$20,000 car.
Why on earth wouldn't we bedoing that with homes?
Think about that for a minute.
(31:27):
We take a $20,000 car and wepre-inspect it because people
don't want to buy a lemon.
Well, guess what?
They don't want to buy a lemonin a house either, especially
when it can be the biggestinvestment of our lifetimes for
many people.
Having that inspection is reallyworthwhile.
In all these I'm at over 3,600transactions.
(31:48):
I not once, as a buyer said nowwe've looked at the inspection,
we're not going ahead.
Here's why that's important.
If they do the inspect, we'renot going ahead.
Here's why that's important Ifthey do the inspect.
If you haven't done this, ifyou're not certified pre-owned
and I've taught this for manyyears around the country
different real estate firms I'magnostic in real estate firms
you all know that If you're agreat agent, you're a great
(32:08):
agent.
That's all that matters,doesn't matter who you work for.
You know I've taught thisaround the country that you do
not want that deal falling out.
When you've listed your home,that's your home.
You do not want that fallingout.
Here's why Around a third ofthem drop out and it's usually
due to the inspection.
Also, appraisal issues as well.
(32:29):
It's a great thing to get theappraisal up front.
It also gives you a floor planand all the square footage
within that appraisal too.
Really good idea to get anappraisal.
This is how I started out in mycareer.
I had over 100 listings in yeartwo.
A lot of them were sitting fora while because it was 2007.
Oh my gosh, you guys back in2007 when everything was
(32:51):
happening and the market was notvery happy.
I don't think we're going to dothat this time around.
But we are seeing declines insome areas of Florida, for
example, at 19% already, andsame in Texas.
It's happening.
There is a softening of themarket.
The Northeast, as we've alreadymentioned, is somewhat
protected.
Just go ahead and get yourinspection, even if you are
(33:13):
listed already.
Talk to your agent, say, hey,this would be a really good idea
.
If you haven't listed alreadyand you're anywhere in the
country, we can set you up withour very highly trained CPO
experts.
You don't have to have a cashoffer.
The cash offer does become aCPO listing.
However, if you want to pay forit yourself, that's fine too.
(33:35):
Go read the chapter on the appat Listing Royalty.
That's Listing Royalty.
Or just go get your home valueat All Star Home Values
Allstarhomevaluecom.
Allstarhomevaluecom.
If you go to All Star HomeValues I bought that domain too
that one works as well.
Just in case it's a Saturdaymorning and I'm not saying it
(33:59):
quite the right way for you,it's Rowena Patton here on the
Real Estate News Radio Show, ifyou're just tuning in
828-333-4483.
Talking about getting your homeready for sale.
I think it goes without sayingget the outdoors cleaned up.
If there's a sign outside,people are going to do a
drive-by very often right.
(34:21):
So there are agents out therethat got used to the market
where they just put a signoutside and things sold very
easily.
And there's definitely buyersagents out there that,
especially if you're coming infrom another area and you go, I
want to see these 20 houses,they say, well, why don't you
take a drive by first?
Yes, I'd say that happens over50% of the time.
So they're driving by yourhouse and if it looks I mean I'm
(34:43):
not talking about, you know,cars up on a house break or
something but if it looks shoddyoutside and it just doesn't
have that, you know, welcomingappeal, it's not going to appeal
as well as the other ones thatare on the market.
And we're seeing a lot moreinventory on the market now.
So you've already got your homeinspection.
Why you order that and you waitfor that can take a minute
(35:06):
sometimes.
So go ahead and order it now.
We can get that set up for youanywhere in the country
828-333-4483,.
Or go ahead and get your homevalue at allstarhomevaluecom.
Put a note in there that youwould like an inspection and
we'll get your local highlytrained agent that's in our
program to reach out to you andget that all set up for you
(35:31):
important thing to do now.
Let's look at the outside.
Maybe you can do it yourself,maybe.
I was talking to a lady lastweek who has a chronic illness
and both her parents passed in2024, the beginning of 2024.
And now she's thinking aboutselling the home.
She was going to rent it out.
She spent a bunch of money.
(35:52):
This is one where, when Ilooked it up, you guys, and put
it in for the cash offer Ilooked it up 700 square feet had
been added in the basement.
So all the numbers were wrongand I can tell that, and I can
certainly tell that by talkingto you, and we have agents who
are trained to look at thisbefore you go in and start
(36:13):
correcting those figures.
It's very, very importantBecause you can say, oh well, we
did this and we did that and weimproved it and we added this
square footage.
But if it doesn't say that onthe national sites, people
aren't looking at you in thefirst place or they're thinking
your home is overpriced, right,because of these national big
box sites that have got thevalue on there.
So let us help you with that.
(36:34):
Allstarhomevaluecom.
Obviously go ahead and put awayas many personal things as you
can.
Take the stuff off the fridge.
I see this all the time when Igo into Lister Home.
It's just plastered all overthe fridge.
Put as much stuff away.
Buy some of these plastic tubs.
The clear plastic tubs aregreat.
If you're on Facebook, go lookat smarthomechoicescom not
(36:58):
smarthomechoicescom, excuse me,smarthomechoices.
Look that up on Facebook.
I've got lots of links for you.
The clear tubs are on therewhere you can start packing
stuff away, because you knowthings like blenders that you
don't use very often.
Maybe Put it away.
Put away as much as you can usevery often.
Maybe Put it away.
(37:18):
Put away as much as you can.
Make that kitchen look largeagain.
Let's make kitchens look greatagain.
Let's go ahead.
And there's also some hardwareon there that you can kit out
your kitchen.
If you've got the old fashionedhardware, you can kit out your
kitchen for about a hundredbucks.
You can get the long modernhardware.
If you just kind of paint yourcabinets white, that makes it
even easier because you canchange the holes in there where
(37:40):
you fill them.
There's all kinds of things youcan do to get it ready and the
best thing to do is, if you'rethinking about selling is get
your agent out now and say whatdo I need to do to maximize the
value of my house?
That's why many of you go ohwell, we know we need to paint
it or we know we need to do this.
Guys, here's the thing.
Time is not your friend rightnow.
(38:01):
I've been saying this for overa year and now we're in this in
many areas of the countrydeclining prices.
So don't wait it out.
Get us in there now.
We're not going to push you tosell now.
I've been working with peoplein some cases for 17 years, yes,
really.
So go ahead, give us a call828-333-4483, anywhere in the
(38:22):
country or start your journey atallstarhomevaluecom, which will
at least kick it off.
Right, you want to start yourjourney now.
We've got the eyes where we cancome in and say, okay, here's
the deal, you don't need topaint it or you don't need to
change your countertops, or it'snot worth doing that because of
the decline in price or therapidity of the decline in price
(38:44):
right now.
You want to get out now ratherthan wait the month or two
months that it's going to taketo get your new countertop on
the money it's going to take.
Whatever it is, we can adviseyou on that.
Guys, we're out those of us whoare experienced, who sell a lot
of houses, we're out in themarket all the time.
We see what's out there, weknow what you need to do to
(39:10):
improve the value of the house.
The best thing to do is get usout there to take a look.
828-333-4483.
We're on call 24-7.
We can set you up anywhere inthe country.
We've got agents standing by inthe network everywhere in the
country.
828-333-4483.
This is Rowena Patton at eXpRealty.
We have agents in the networkfrom all different real estate
(39:33):
firms because we want the best,most highly trained agents,
especially when you're sellingyour home.
So I want to take a turn hereand talk about some of the major
natural disasters that we'veseen in the USA in the last 12
months.
So obviously we have to talkabout Helene and Milton.
(39:54):
So, starting in September andthen October just last year,
helene made landfall inFlorida's Big Ben region in late
September 2024, causingcatastrophic England flooding
across North Carolina, tennesseeand parts of the Midwest as
well, and it resulted in over200 fatalities.
(40:16):
The numbers are always sowoolly on those.
Over half of those were inWestern North Carolina and
approximately 120 billion indamages, making it one of the
deadly and costliest hurricanesin recent history.
Milton struck just two weekslater near Siesta Key, florida,
(40:36):
leading to extensive flooding,widespread power outages
affecting over 3 million homesdirect hit.
And now has her daughter,son-in-law and grandson living
with her in Bradenton, and youknow I've heard firsthand all
(41:07):
the changes in real estate inthat area.
Then we had the Westernwildfires in the summer of
summer to fall of 24, withCalifornia, oregon.
Really, sophie, you thought itwas that good.
My little doggie is in thestudio today.
So California, oregon andWashington unprecedented wire
(41:27):
fires, with California's ParkFire destroying over 700
structures and burning more than170,000 acres Amazing.
These fires led to significantproperty losses, obviously, and
strained local housing markets.
And then came the Michigan icestorm.
It's like it didn't stop.
(41:48):
This year, a severe storm innorthern Michigan damaged
approximately three millionacres, three million acres of
trees, and disrupted power forhundreds of thousands of
residents.
The storm's aftermath hasraised concerns about long-term
impacts on infrastructure.
Here we go and potential futurewildfires due to the damaged
(42:11):
vegetation.
And then we have the Arkansas,and still nobody can tell me why
.
It's not Arkansas, but thereyou go.
And then we have the Arkansastornadoes.
In March, multiple tornadoessweeping through Arkansas,
resulting in the destruction ofhundreds of homes and the
displacement of over 200families.
The state's request for federaldisaster aid was denied,
(42:37):
highlighting challenges indisaster response and recovery
efforts.
Then we had the Californiawildfires, of course, in 2024.
Devastating wildfires led tosignificant financial losses for
insurance companies, with theHartford Insurance Group
reporting $325 million that'sjust one group alone in losses
due to the events.
The increasing frequency andseverity of wildfires have
(42:59):
raised concerns about thesustainability of insurance
markets in high-risk areas.
So insurance challenges thesurge in natural disasters has
led to increased insurancepremiums and, in some cases,
insurers withdrawing from highrisk markets, making it more
difficult for homeowners to takecoverage.
I mean, many of you have feltthat.
(43:20):
What do you think about that,sophie?
Sophie?
Nothing, ok, I see.
And then housing supplyconstraints, destruction of
homes due to disasters,exacerbated housing shortages,
which we've had for years.
We're not building enough,probably due to what happened in
the last recession, which was aheck of a mess, with a lot of
(43:44):
builders going bust and then alot of the contractors who are
working for the builders goingbust as well, which obviously
did not help the situation.
And then migration patterns, sosome residents are relocating
from disaster prone areas toregions perceived as safer,
influencing demand and pricingin those markets.
(44:04):
For example, in Western NorthCarolina, we had a lot of people
move from California Buildingregulations.
This is a huge one.
So in response to these events,we've got local governments now
implementing stricter buildingcodes and zoning laws to enhance
resilience, which may affectobviously affects construction
(44:26):
costs and timelines.
In some areas, such as WesternNorth Carolina, they are
actually relaxing some of therequirements where you can build
more homes on the land that youhad.
So the nice thing is that youknow government controls can be
very, very important andrelaxing them sometime, relaxing
those restrictions is very,very important as well to really
(44:49):
get the housing market goingagain and to serve the people of
the area, which is what ourgovernment's supposed to be
there to do.
Right, this is Rowena Patton onthe Real Estate News Radio Show.
Give us a call,24-7-828-333-4483.
You can check your home valueand, most importantly, check the
(45:10):
data on your home, becausewhatever we've got chances are
that's what's on the internetfor your home and we can help
you put that right if it's wrong.
I would say about 40% of thetime I'm doing evaluations and
pricing and cash offers and CMAs, comparable market analyses for
people that are listing theirhomes every single day, and I
(45:31):
see this all the time, and alarge number of the data points
are incorrect.
So go ahead and put your homein at allstarhomevaluecom,
allstarhomevaluecom, or give usa call 828-333-4483.
838-333-4483.
So let's wrap it up.
(45:52):
I can't believe the time alwaysgoes so quickly.
The show's been running.
Now, guys, this is year 13.
Lucky for some right.
If you've been listening thatlong, I'm sure you started out
when you were 20, right?
So inventory shortage let'sstart off with that white spot
propping up prices.
We touched on this today.
Despite the market slowdowns insome areas of the country,
(46:15):
we're still seeing historicallylow inventory in many regions
and that, I think, is going tokeep prices from falling off.
A cliff in the markets wouldreduce buyer demand.
The lack of available homescontinues to keep values well
(46:40):
flat, in some cases declining alittle bit, but I'm not
expecting that big major droplike we had last time around.
New construction has slowedinterest rates, labor costs,
material shortages and thatcompounds the inventory crunch
and again, again, that ispropping up the prices in a
bubble or just a correction.
I don't think this is 2008.
Homeowners today have recordequity.
That's the other thing that'shappened.
(47:00):
They've got fixed rates,they've got stricter lending
standards.
So, you know, price correctionand a crash two very different
things.
And equity cushions and lendingpolicies, which have really
really gotten a lot more strict,are really important in that.
So interest rates what's comingthere are, you know, 6% to 7%
(47:21):
right now.
Many experts don't expect anymajor cuts until late 2025.
And, by the way, the 6% to 7%,that's normal 2025.
And, by the way, the six to 7%,that's normal.
It doesn't feel normal becauseof what we had a few years ago
in the high twos, which was, youknow, was not sustainable.
It was like free money forhouses.
But to many of us that boughthouses in that time, now it's
(47:44):
provided this lock-in, which Idon't think the government ever
or the feds ever wanted to do bythat.
But that's what it's done.
It's locking a lot of people in.
But that's kind of sad if youreally need a different house,
especially if you're rightsizing you're going for that
small house or you want to movesomewhere else, because you can
always switch out that interestrate and remember too, depending
(48:05):
on what kind of loan you've got.
It could be assumable.
Va's are almost a symbol.
We need to look at that verycarefully though, because of
your eligibility.
If you have a VA loan, it'sworth looking at that as well.
So, buy downs, rate locks, armsstrategies using cash offers
you know there's all kinds ofways where you can do buy downs
(48:27):
in there to get your rate down.
You can get your rate down toprobably not 2.8%.
You can with a huge amount ofmoney, but you know that's
probably not going to fly.
But you can ask the seller tobuy down your rate.
So therefore, you you know youwouldn't be you wouldn't be in
trouble.
Let's talk about the rise ofmulti-generational living.
We touched on Chris Marion inBradenton.
(48:48):
She's now housing her daughterand her daughter's family after
the hurricane, and it's one ofthe fastest growing trends in
real estate.
Whether for financial reasons,caregiving or just a different
lifestyle, a lot of millennialsare saying you know they're
going back to live with mom anddad, all their grandparents.
So there's a growing appeal ofhomes with in-law suites.
I don't think that ever wentaway.
(49:09):
So there's a growing appeal ofhomes with in-law suites.
I don't think that ever wentaway, frankly.
So what's your home reallyworth.
Go and take a look atallstarhomevaluecom.
Allstarhomevaluecom.
Or give us a call at828-333-4483.
And we will follow up with youfor comparables and a deeper
(49:33):
analysis.
It isn't just about selling guys.
It's about protecting wealth,lowering property taxes or
values and therefore taxes andplanning smarter.
And we're going to see this alot.
We saw it last time around whenhouse prices went down and you
were still paying those highproperty taxes.
You can't always get them down,but it's got to be worthwhile,
(49:54):
right?
You've probably heard that whenpeople have a medical claim,
they are very, very often denied.
I heard this again just theother day and I can't talk about
who it's from because it'ssomebody in the industry.
I used to work in the industry,so I saw this a lot.
But I had it first time theother day that a very large
(50:17):
percentage over 50% can bedenied from certain companies.
When you go in and put yourmedical claim in, however, the
vast majority on attempt two andattempt three do get passed.
So if you've been denied amedical claim, I want you to put
it in again and again.
It is worthwhile because thevast majority I think it's 68%,
(50:38):
something like that.
Go and do your research on itDepends on the company, depends
on you know what you're puttingthe claim in for.
Obviously, that makes sense,right?
Use your common sense whenyou're doing this stuff, but
ahead and put your claims in andobviously, check the value of
your home and, most importantly,check the size is correct,
because you've always got peoplelooking at the values on the
(51:00):
big boxes.
You all know who I'm talkingabout and the buyers go.
Well, the house on there onlysays it's worth four hundred and
twenty thousand dollars and yetit's listed at $520,000.
And we as a listing agent haveto say, well, that's because we
added 800 square feet in thebasement.
That's fully finished.
Remember, it needs that ceilingof seven feet high in most
(51:25):
areas in the country.
So make sure you've got thatseven foot high and most areas
of the country.
The space has to be contiguous.
In other words, if you finishedoff your basement area but
didn't finish off the stairsleading down to it and you
thought, oh, we'll get to thatlater, contiguous means the
space at the top.
You have to be able to walkdown the stairs that are also
(51:45):
finished and the area has to beheated as well.
In most areas it's heated andnot air conditioned for some
unknown reason, because imaginebeing in some areas of the
country without air conditioning.
I can't.
How do we live before I grew upwithout air conditioning?
Okay, I grew up in Englandwhere it's not so hot, so I
guess it kind of worked there.
Don't forget, go get the valueof your home at All Star Home
(52:08):
Value.
All Star Home Value.
Or give us a call, guys.
828-333-4483.
We can help you anywhere in thecountry.
We love to chat with you.
Or you can start with yourvalue online.
We can reach out to you.
You can put a note in there.
Hey, I was just looking for myhouse Value.
Don't call, or whatever it is.
(52:28):
Or please call me.
We're thinking about selling.
And remember, get your agentout there now.
We can save you a lot of money.
So many of you are thinkingyou've got to do this and got to
do that to make your houseworth more.
It may be that one or twothings, strategically placed,
save you a lot of money.
Normally we're coming out andsaying, no, don't do that.
(52:49):
We're not giving you a laundrylist of things to do.
So you know, just get us outthere now.
828-333-4483.
You can leave a message.
If you're anywhere in thecountry.
It may come directly through tous, just depending on who's on
call at that time.
As you can imagine, we'reprobably not at five o'clock in
the morning.
Well, maybe some of us areactually, but we're probably not
(53:10):
at five o'clock in the morning.
Well, maybe some of us areactually, but we're probably
working out at that time.
Give us a call.
We love to hear from you.
Thank you so much for listeningtoday.
This is Rowena Patton on theReal Estate News Radio show, and
you can find this podcast andall of the other topics at
realestatenewsradiocom.
That's realestatenewsradiocom.
Look forward to seeing you nextweek and thanks again for
(53:31):
listening.
It's great being with you on aSaturday morning.
Speaker 1 (53:34):
This has been the Plain English Real Estate Show
with Rowena Patton.
Visit Rowena and post yourquestions at radioashvillecom or
call her at 828-210-1648.
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
(00:20):
would trust, rowena Patton.
Speaker 2 (00:22):
Welcome back to the Real Estate News Radio Show.
I'm Rowena Patton, your trustedguide in the world of real
estate.
Today we're tackling a pressingissue that affects homeowners
nationwide.
Are you being ripped off onyour property taxes?
Recent studies reveal that asignificant number of homeowners
are overpaying on theirproperty taxes.
(00:44):
Number of homeowners areoverpaying on their property
taxes and very often withouteven realising it.
So let's delve into howproperty taxes are assessed, why
discrepancies occur and whatyou can do to ensure you're not
overpaying.
So let's look at understandingproperty tax assessments.
Property taxes are calculatedbased on your home's assessed
(01:04):
value, determined by localassessors.
This value is then multipliedby the local tax rate to arrive
at your annual tax bill.
However, assessments may notalways reflect the current
market value, leading topotential overpayments.
A recent report indicates that40.5% of properties in the US
(01:26):
may be over-assessed, withhomeowners potentially
overpaying by a median of $539annually.
So it doesn't just mean payingmore in taxes.
It can also affect your home'smarketability.
Of course, here we are in theseason when many of you are
thinking about selling your home, and a higher tax bill can
(01:49):
deter potential buyers, makingyour property less competitive
in the market.
It's another factor in therewhen you're going to sell.
Moreover, the burden ofoverpaying can strain household
budgets, especially whencombined with other rising costs
like insurance and maintenance,and what with all the interest
rates going up over what theywere just a few years ago.
(02:09):
So to assist you in evaluatingyour property's assessed value,
we've developedallstarhomevaluecom.
That's allstarhomevaluecom?
It's a free tool.
It provides an estimate of yourhome's current value, allowing
you to compare it with theassessor's valuation Now for a
(02:31):
comprehensive appeal.
If you're going to do that,it's crucial you reach out to us
to supplement this with.
You know we've got comparableproperty data we can put in
there and our team can provideyou with recent sales of similar
homes, really strengtheningyour case for a reassessment.
Obviously, you know we can dothat locally, wherever we're at
(02:53):
in the country, if you discovera discrepancy between your
home's market value and itsassessed value.
Many times they're doingdrive-bys and you know you may
have added some square footageor something else that's in
there that's not tracking right.
So you'll also see that atall-star home value, by the way,
when you go on there.
It does have a part in there.
(03:15):
It's why I chose thisparticular valuation tool
all-star all-star home valuecom.
The reason I chose this one isbecause you can change the data
on the backend.
You can do it.
So if it comes back with, youknow your valuation is this
based on this size.
You can change the size andeverything else.
So go I mean it's free guys, gohave a look.
(03:37):
Allstarhomevaluecom, if youneed to call us.
Maybe you're thinking aboutselling or you're concerned the
tax value is not right orsomething like that.
828-333-4483.
We've got people standing by24-7.
So if you do discover adiscrepancy between the home's
market value and its assessedvalue and maybe it's not the
(03:59):
right beds or baths or the rightsquare footage, you often see
that with it being incorrect onthe internet.
So what you usually do is stepone, gather the evidence.
So get recent sales data ofcomparable properties.
Of course we can do that foryou and then you go ahead and
file a petition.
You submit an appeal to yourlocal assessment board within
(04:22):
the designated time frame.
That's important.
We can help you with that aswell, wherever you are and then
you attend a hearing so youpresent your case not always.
Sometimes you can mail it in.
You present your case supportedby the evidence that you've
gathered.
Many homeowners havesuccessfully appealed their
property assessments and thiscan result in substantial tax
(04:44):
savings.
So we have one in Texas where arealtor challenged $150,000
increase in her home's assessedvalue and managed to reduce her
tax burden significantly byproviding accurate comparables.
So taking the initiative toreview and, if necessary, appeal
your property assessment canlead to some pretty good
(05:08):
financial relief in there.
So don't let that inaccurateproperty assessment drain your
finances.
Visit allstarhomevaluecom todayto get a free estimate of your
home's market value.
Of course you might want to usethis if you're selling as well.
Go ahead and look at your valuein there.
When you do that, I do go inand check them on the back end,
(05:30):
because any of these instantvaluations that are out there
aren't absolutely accurate.
So we need to look at it and go.
Does this make sense based onall of the other pieces?
You know it's that humanelement where we actually put
our eyes on it.
If you find discrepancies,reach out to us.
On the back end.
(05:51):
It does actually allow you tochange the size and the beds and
baths, all of that.
So our team's ready to assistyou with the necessary
comparables and guide youthrough the appeal process.
We can do that anywhere in thecountry, ensuring your property
is fairly assessed not onlysaves you money but enhances
your home's appeal for futurebuyers.
Whether that's in 10 years oryou're thinking about selling
(06:12):
this season, same thing.
Start your journey atallstarhomevaluecom.
Of course, we'd be delighted tocome out and see your home
828-333-4483.
We can book an appointment foryou anywhere in the country to
take a look.
If you're sitting there going,oh yeah, but we've got to do
(06:33):
this and we've got to do thatbefore we get ready to sell it,
let an agent come out and see itfirst.
Please, please, please.
Because many of you arespending time, money and energy
you don't need to be please.
Because many of you arespending time, money and energy
you don't need to be spending.
We're in a flattening and inmany markets in the country
(06:53):
right now, declining market.
We've seen declines in Florida,for example, of 15 and 17%.
We've seen declines in Texas ofeven more than that so far.
I know a lot of people aresaying, oh, there's no declines
going on.
They are, and I can show youthe data on that so many places
in the country it's really onlythe Northeast, so Connecticut
Mass.
You know areas that they're inthe Northeast.
(07:14):
Some of them are still poppingalong and selling homes within
30 days, all that good stuff.
They're not tending to get themultiple offers that they were
getting before.
And of course I'm doing a broadbrush here.
Real estate really is local.
It's block to block, never mindtown to town and city to city,
or is it city to city and townto town?
It's all right.
(07:35):
You know what I mean.
Go get your value atallstarhomevaluecom.
If you've just tuned in, this isRowena Patton on the Real
Estate News Radio Show and youcan reach us 24-7, 828-333-4483.
Wherever you're at in thecountry, we can help you with
(07:55):
where you're being ripped off onyour taxes.
We can help you with gettingyour home sold.
We've sold many, many thousandsof homes across us all.
I think we're at 3,600 orsomewhere in that region now in
Western North Carolina.
You can only imagine how manyhundreds of thousands that is
(08:16):
across the country.
We know what we're doing whenwe're selling a house.
If you're thinking about sellingyour house now because of
market conditions I was justmentioning that in many places
where a flat or declining market, choose someone with experience
.
This is not the time to youknow.
Give it to the realtor down thestreet that got their license
(08:38):
last week.
I mean, I'm not being rude,that realtor down the street,
come work with me.
I'll mentor you.
We have mentors across thecountry that will help you.
We have amazing programs thatwill get you into business fast
and really train you at a highlevel.
But right now, if you'reselling what is most likely your
biggest asset, choose an agentwith experience.
(09:07):
Welcome back to the Real EstateNews Radio Show.
I'm Rowena Patton guiding youthrough the ever-evolving
landscape of real estate andwe're delving into the current
state of the US housing marketnow, highlighting areas of
stability.
There definitely are stillareas of stability, especially
in the Northeast, and there'sothers experiencing big shifts,
(09:30):
like Florida and Texas.
So, as of May 2025, in caseyou're listening to this on the
podcast we air live and thenpodcast afterwards the housing
market is kind of strange.
It's a nuanced transition, iswhat we call it, and some
regions are maintaining thatbalanced dynamic between buyers
(09:52):
and sellers.
That's primarily in theNortheast.
Others are witnessingsignificant changes, especially
Florida and Texas, so let's talkabout that for a second.
And Texas so let's talk aboutthat for a second.
Let's talk about Florida'smarket dynamics.
So Florida was once a hotspot,all of a year ago, or certainly
two years ago and for a longtime before that for rapid real
(10:15):
estate appreciation, and nowit's seeing very much a calling
trend.
Condo prices have declined inabout wait for this 92% of
Florida's housing markets.
Single family home prices fellin 66% of Florida markets.
That's significant guys.
So the good news is, if youwere thinking about retiring in
(10:40):
Florida or moving to Florida,well, that looks like we've got
some home prices coming downthere and particularly homes
have been sitting for a longtime.
It really takes a long time tosee those decreases.
Here's why In the market and Iknow I talk about this every
week, but I look at price cuts.
Price cuts are so important asa leading indicator.
(11:02):
When we see price cuts now,that means the people out there
that have homes are cutting theprice of their homes.
That was a bit of a word salad,wasn't it?
Of course, and however, untilthat home closes might be six
months, especially if you're inthe markets where it's taking
longer for a home to sell andmaybe it's a more expensive home
(11:24):
they tend to take longer tosell as well.
So we're not going to see thosecomparable amounts actually
land until the fall or even thewinter, but the problem is, by
the time you see those lowerprices and I'm not talking about
in Florida or Texas, becausewe're already seeing that in a
lot of those markets now youknow it's already waving the
(11:47):
flag, guys, all over the country.
I don't say this to make younervous.
It's a natural economic shift.
It's seven to 11 years.
We're way overdue.
And there's a lot of people outthere talking about oh, there
won't be a crash, and therewon't be this and there won't be
that.
I understand, I don't thinkthere's going to be a crash.
I think there'll be a marketcorrection, which is a normal
(12:08):
thing to happen.
Clément Juglar 1860, so until11 years.
He set it up then.
Not much has changed since.
Now, does the housing marketexactly follow the economic
cycle?
No, but when you see those, Imean, think about it.
It's common sense, guys.
When you see those stock marketnumbers, it makes people nervous
and therefore not as likely topurchase a home.
(12:31):
Pretty straightforward, right?
And you've always got peoplethat need to sell.
What do I mean by that?
Maybe they're getting a divorce, maybe they have a new family,
maybe they're getting married,maybe somebody has passed away.
There's always, you know,reasons.
Maybe you want to move to be bythe grandkids, or the grandkids
(12:51):
want to move to be by thegrandparents.
There's always reasons peoplehave to move.
Basically those people and thatmay only be 20% of the market
say I'm completely making upthat figure, but it's a
percentage of the market.
That percentage of people aregoing to sell the house whatever
it takes, which means thatthey're cutting their price
(13:12):
right.
So that's going to bring downcomparables for everybody else
and that's how the appraisalsare done and that's what people
pay.
So even if you've got peoplesay, yeah, but we've got cash
buyers coming in, so it doesn'tmatter.
So even if you've got peoplesay, yeah, but we've got cash
buyers coming in, so it doesn'tmatter, any cash buyer that has
(13:34):
an agent that has half a brainwill advise you to have an
appraisal on the home, even whenyou're paying cash.
Why wouldn't you do that?
To make an intelligent decision?
Even if it appraises it lessthan you're paying, at least
you're going armed in with theright decision at that point.
That's why, since 2007, I'verun CPO experts around the
country.
(13:54):
Cpo is not cash CPO that wetalk about all the time.
Certified, pre-owned is whereyou decide to get the inspection
and possibly the appraisal andoffer a home warranty up front.
That's the trifecta.
Yes, it does cost money.
You don't have to fix anythingit makes.
We just disclose it.
Everybody goes in eyes wideopen.
(14:16):
It makes for a much more stressfree sale.
Homes drop out up to a third ofthe time with a conventional
listing.
So if you've got your homelisted right now and you haven't
done that pre-inspection, Iwould urge you to do it.
You don't want to find out whenit's under contract.
That's really not a good idea.
So when you have a third ofthem dropping out, the primary
(14:37):
reason is the inspection, so youdon't want that to happen.
Then you have a stigmatizedlisting.
What does that mean?
A stigmatized listing?
What does that mean?
A stigmatized listing is onewhere people go hey, I saw that
listing of yours, I was reallyinterested in it, and we get
calls like this all the time, bythe way, and we saw it went off
the market.
What's wrong with it?
Those are the questions thatare asked.
(14:57):
Stigmatized listings generallytake longer to sell and you're
going to see a shift downwardsin price.
Take longer to sell and you'regoing to see a shift downwards
in price.
An inspection in most parts ofthe country costs between $400
and $600.
It really is a good investment.
You may be saying, oh, I've gota new home.
Even with a new home, thingscome back on the inspection
report.
(15:17):
The average inspection reporthas 40 or 50 items on it, guys.
40 or 50 items Now.
A lot of them are you know alittle.
You could call them nitpickythings.
They're often cosmetic things,but there are a lot of things
that come back and remember,think about this Again, it's
common sense.
I'm not telling you anything youdon't already know.
Here.
We are in a market that's flatand declining.
(15:40):
Even if you don't believe thatand maybe you're listening in
the Northeast today, by the way,if you've got any friends that
should be listening to thisrealestatenewsradiocom,
realestatenewsradiocom.
It will also be broadcast afterthe event.
You can find all the old showson there as well.
You can also listen live ifit's 10 am on Saturday in May
(16:02):
2025, right now and you'relistening to it live.
And we're talking about themarket factors.
What is going on?
What's going on in Florida,what's going on in Texas,
particularly because those arethe biggest shifts right now.
And you know, in Miami, inTampa, we're seeing a big
decline, obviously.
(16:22):
So 8% is a lot.
Think about that, what thatmeans.
On even a $500,000 condo oreven a $200,000 condo, you know
you're really seeing a decline.
Not only that, we were talkingabout the fact that many people
have to move.
When people have to move, it'smore flexible in terms of what,
the amount that you can buy itfor.
(16:43):
Obviously, it's just supply anddemand.
So now, you know, look at thosemarkets when things are
declining, because it's notgoing to continue forever, right
?
So that's really worthwhilethinking about.
It could be very good forbuyers out there in the market.
So let's talk about Texas for aminute.
So let's talk about Texas for aminute.
Definitely showing signs ofdeclines and some stabilization
(17:09):
in different markets.
But again, it depends on whereyou are in Texas.
So go ahead.
You know we mentioned earlieron allstarhomevaluecom.
Allstarhomevaluecom, go, getyour values.
We can do a deep dive into itif you'd like.
We have people sending by 24-7.
Yes, really, 828-333-4483 ifyou've got any questions on that
(17:34):
.
So what's driving these oddmarket dynamics?
So economic uncertainty.
We all know what's going onthere.
We're still not through tariffsyet.
That could be another month,two months, three months.
Economic you know the market'sgoing up and down.
It's led to a 5.9% drop inexisting home sales in March
2025.
Now, I really don't like thesenational figures.
(17:55):
You'll know that because you'vebeen listening to me for a
while.
If you have been you know thatI always say I don't like the
national figures.
Real estate is local.
It really is local.
So go ahead and start bygetting your value.
That's allstarhomevaluecomA-L-L-S-T-A-R homevaluecom.
And then mortgage rates.
(18:17):
These are persistently high.
They're averaging in the high60s and they've deterred
potential buyers.
Now, remember they say that youknow when you're getting a rate
on a house, they're probablygoing to come down.
You can always refi at thatpoint If you really need to move
somewhere.
Don't put it off for a year ortwo waiting for the mortgage
(18:40):
rates.
It doesn't make a whole lot ofsense, right?
And then we've got climateconsiderations, particularly in
Florida, for example, increasedflooding risks.
It doesn't make a whole lot ofsense, right.
And then we've got climateconsiderations, particularly in
Florida, for example.
Increased flooding risks isreally affecting by perceptions
and property values.
We're going to go into anothersegment here in a minute,
talking about the nationaldisasters that have happened in
the last year and what that'sdone to real estate.
(19:01):
What I do want to talk about is2024, because this was a big
one.
So the Champlain Towers in aSouth this is a South Condo
Towers in Surfside, florida,that's North Miami it partially
collapsed.
It killed 98 people.
It was an awful thing.
So many things have happenedsince then.
(19:22):
We've had so many disasters.
It's almost been, you know, putin at the backs of our memories
, but that killed 98 people.
That had a massive, massiveripple effect across condos in
South Florida and all overFlorida.
In fact, it even brought a newbill around.
So investigations revealed thatlong-term degrading of
(19:44):
reinforced concrete in thestructural support in the
basement level parking garage,as by the pool deck, there was
water penetration, corrosion ofthe reinforcing steel.
All of that was a contributingfactor, but it killed almost 100
people.
The problem had already beenreported in 2018.
This is three years earlier,and then, in 2021, it was noted
(20:19):
as much worse.
There was a $15 million programof remedial work that had been
approved before the collapse,but it hadn't been done, hadn't
even been started.
So is land subsidence,insulation, reinforcing steel,
corruption during constructionwho knows?
However, the big news here isthat, in response to that
tragedy, florida lawmakersenacted Senate Bill 4D in 2022.
This mandates, milestoneinspections and reserve studies
(20:39):
for condominium buildings over30 years old, and I believe that
also it has to be over threefloors, so the two-story
buildings are not affected bythis, I believe, in certain
areas.
But definitely check that outif you're affected by it.
So it was aimed at enhancingsafety.
However, now we're seeing itrolling out as many of these
(21:02):
actions lead to significantfinancial burdens for these
condo owners throughout Florida.
Many associations have imposedsubstantial special assessments.
I know of one in FortLauderdale, for example,
substantial special assessments.
I know of one in FortLauderdale, for example, that is
$120,000.
And because this is all new,one person, a special assessment
(21:22):
, $120,000 for everybody in thebuilding.
Here's the problem.
The HOAs are not necessarilyset up to be able to manage
something like this.
So I know of one where they'resaying oh, you can't sell your
condo before you pay theassessment.
Well, in most cases, what thatshould be is that no, you can
sell it, you can put it up forsale.
(21:42):
However, the assessment's gotto be paid before it closes.
Does that make sense so you cantake it out of the profits?
Now, unfortunately, if somebodybought recently and they didn't
put much money down, then thatcould actually leave them at a
loss.
This is what happened last timearound, when prices came down,
and especially in condobuildings, sometimes in
(22:05):
townhouses and houses too, ofcourse, we ended up in a short
sale situation where peoplebought at the height.
They didn't put much money downand then whatever happened that
led up to them having to sell.
When you have that small numberof people, you know maybe
there's medical issues orsomething going on they can't
afford to pay the assessment orjust they've got medical issues.
(22:28):
You know they bought a newhouse last year.
They've got medical issues.
Now they can't work and theyhave to sell the house.
That's going to pull downcomparables for everybody, and
especially if they're in thatsituation where they bought at
the height, at the height, andnow they're in one of these
markets where it's it's dropped.
Now you're in a short salesituation.
That's not good for comparablesand we're going to see more of
(22:50):
this rolling through, guys, inthe next six months or so.
So if you you're thinking aboutand it's not just going to go
away in six months after thatit's not how the cycle happens,
at least not as history tells us.
You know we're going to seethree to five years of decline.
Maybe something more remarkablewill happen.
We'll see two to three years ofdecline.
But the point is you're goingto wait, be waiting out a long
(23:12):
time to see the kind of moneythat you can get now.
So if you're thinking aboutselling and you know you don't
want to hold onto your house forseven years, 10 years, until
it's back at the peak again,sell it now.
Start off at All Star Home ValueA-L-L-S-T-A-R.
Allstarhomevaluecom.
Get your value.
I will go in on the backend.
(23:34):
You know that's going to.
Whether you feel like you'reoverpaying on taxes or you just
want to start off getting yourvalue.
Either of those things willhelp you.
We can do that for you anywherein the USA.
So, for example, for buyers,the current market offers have
increased negotiating power inFlorida.
So many sellers are open toconcessions.
(23:56):
Many more sellers are doingseller financing now.
So for sellers it's crucial toprice homes competitively and
consider market trends toattract potential buyers.
Additionally, understanding thefinancial, health and reserve
status of condominiumassociations if you're going
into a condo or townhome, oreven if it's an HOA with single
(24:16):
families it's becomingincreasingly important,
especially in those regions likeFlorida where new regulations
have heightened the focus onbuilding safety and maintenance,
but, guys, it's done itnationwide.
When 98 people die, you onlyusually hear of that in a third
world country, you know, so it'sthat's had ramifications around
the country.
So understanding the regionalnuances and your agents can help
(24:38):
you with that is essential formaking these informed real
estate decisions and, whetheryou're considering buying or
selling, staying abreast oflocal market conditions will
empower you to navigate this2025 housing landscape
effectively, which obviouslythat's so important.
(25:00):
So tis the season.
Let's talk about getting yourhome ready for sale and what
that looks like.
So the first thing I want youto do is go to
allstarhomevaluecom anywhere inthe usa to kick it off, and what
that will show you, if nothingelse, is whether the grand old
(25:22):
internet has got your data right.
Are your beds and baths right?
Um, is your square footageright?
All of the other data on thereis it correct?
Because then you can correct it.
We can even show you how tocorrect it on Zillow.
That's another important one,not because we necessarily
approve of or like their homevalues, but a lot of buyers out
(25:43):
there are looking at it, sothat's another important one.
I had that conversation with ahome seller just this week.
Here's another thing that I wantyou to think of.
Do you have everything in place?
Do you have your permits?
Maybe you did some remodelingon the home?
Dig out your permits.
Maybe you're in an area whereyou have a road maintenance
(26:05):
agreement.
Maybe you know you don't have aroad maintenance agreement.
However, you've been thinkingabout putting one in place for a
while.
Just note occasionally you'llget it through.
But note that very often youneed a road maintenance
agreement, especially for agovernment loan.
Why?
Because the banks say this isreally our house, we're lending
(26:26):
you the money and we've got tobe able to have access to it.
It's that simple.
And if there isn't a roadmaintenance agreement in place,
who takes care of the road?
Now, over the years in themountains of Western North
Carolina, I've heard things likewell, jimmy with the tractor
takes care of it.
Here's the problem.
The banks aren't really lookingat that.
We love the fact.
(26:47):
Thank you, jimmy, for takingcare of the road.
That's a wonderful thing whenneighbors pitch in together.
Some of you will know thatoccasionally that causes issues.
What happens if Jimmy movesaway?
Maybe Jimmy moves away to thepearly gates.
Sorry, jimmy, if your name'sJimmy today, I'm sorry, but you
(27:08):
know what I'm saying?
What if Jimmy isn't aroundanymore to take care of the road
?
You need something in place.
It's all about responsibility.
By the way, it doesn't costvery much.
It's a few hundred dollars andyou can all do it together those
of you that have rights of way,those of you that own the road.
Get it done now, because it'sgoing to affect all of you, most
(27:28):
likely when you come to sellyour house for obvious reasons,
right?
They want to know there's somethings in there.
You don't have to agree to payan amount.
People think that you have to,oh, pay $500 a year or something
.
You can do that and put it inan account so that when there's
any issues, there's money totake care of the issue on your
roads, especially if it's gravel, because obviously that can
(27:50):
wash away and everything else.
However, you don't have to do.
That is the good news, right?
So you can just say we all take, you know, 20% responsibility
or whatever it is.
Or we have a meeting once ayear or once a quarter to assess
the nature of the road.
Talk to your attorney in yourlocal area as to how to put this
(28:11):
together.
The other thing I highlyrecommend is certified pre
Pre-Owned.
If you want to do a deep diveon this, I have a best-selling
book called Find your UniqueValue Proposition.
It's written for agents.
It's now free on the ListingRoyalty app.
The Listing Royalty app is aplatform that I developed for
(28:32):
agents around the country who'vebeen in real estate for a long
time.
It's free for agents.
It's something that gives backto agents those of us who've
been around for a long time howwe can take that experience and
bottle it, if you will, andallow you know.
Agents who are newer or thoseof us I learned from it all the
(28:52):
time I've been in real estatesince 2007.
It doesn't matter.
You can always be learning.
You always want to be learning.
That's how we serve our clientsin a better way, and in a more
national manner as well, becauseoften our clients are coming in
from somewhere else and we haveto be able to work with those
other agents.
If you want to read aboutcertified pre-owned, you can
(29:13):
look up in the app store ListingRoyalty.
It's called Listing Royalty.
That's the app, and the book iscalled Find your Unique Value
Proposition.
What's that got to do with youselling your home?
You say you can read thesection on certified pre-owned
homes.
It's in the book.
It's free.
The next section is Cash CPO.
So if you want to learn aboutthe cash offer, it's all in
(29:35):
there.
The best selling book is nowfree.
On the Listing Royalty app, youhave to log in.
You might have to reach out tohave the extra data unlocked for
you.
It's called Listing Royalty.
If you've got any realtorfriends, real estate agent
friends, let them know about theListing Royalty app.
I took a hiatus over theholidays at Christmas last year
(29:59):
and built out the app and we'regetting a lot of eyeballs on it.
There's a lot of CEOs on therethat are talking about real
estate for real estate agentsCEOs of some of the biggest real
estate companies in the country, such as Leo Perea, who is the
CEO of eXp, the company I'm withcurrently.
Gary Keller is on there KellerWilliams, it's all.
(30:23):
On the listing royalty app, itis aimed at agents.
However, for you as a seller,it's really worthwhile reading
the portion about certifiedpre-owned homes.
Why it's so powerful whenyou're selling your home.
At the very least, I want youto think about getting the
pre-inspection you it's sopowerful when you're selling
your home.
At the very least, I want youto think about getting the
pre-inspection.
You do not have to fix items, wecan disclose them.
Why would we want to disclosethem?
(30:44):
I like to send the inspectionreport when an offer comes in.
Here's why I send theinspection report, with your
permission, of course, as theseller.
But I'll explain to you why.
We send over the inspectionreport and we say to the buyer's
agent or to the buyer we wantyou to take a look at this.
We took the price of the houseinto account and we did the
(31:06):
pre-inspection.
So everybody goes in eyes wideopen.
We explain about certifiedpre-owned cars.
There's a reason why everydealership has certified
pre-owned cars and there's areason why we've paid for 20, 30
years, now 6% more for a$20,000 car.
Why on earth wouldn't we bedoing that with homes?
Think about that for a minute.
(31:27):
We take a $20,000 car and wepre-inspect it because people
don't want to buy a lemon.
Well, guess what?
They don't want to buy a lemonin a house either, especially
when it can be the biggestinvestment of our lifetimes for
many people.
Having that inspection is reallyworthwhile.
In all these I'm at over 3,600transactions.
(31:48):
I not once, as a buyer said nowwe've looked at the inspection,
we're not going ahead.
Here's why that's important.
If they do the inspect, we'renot going ahead.
Here's why that's important Ifthey do the inspect.
If you haven't done this, ifyou're not certified pre-owned
and I've taught this for manyyears around the country
different real estate firms I'magnostic in real estate firms
you all know that If you're agreat agent, you're a great
(32:08):
agent.
That's all that matters,doesn't matter who you work for.
You know I've taught thisaround the country that you do
not want that deal falling out.
When you've listed your home,that's your home.
You do not want that fallingout.
Here's why Around a third ofthem drop out and it's usually
due to the inspection.
Also, appraisal issues as well.
(32:29):
It's a great thing to get theappraisal up front.
It also gives you a floor planand all the square footage
within that appraisal too.
Really good idea to get anappraisal.
This is how I started out in mycareer.
I had over 100 listings in yeartwo.
A lot of them were sitting fora while because it was 2007.
Oh my gosh, you guys back in2007 when everything was
(32:51):
happening and the market was notvery happy.
I don't think we're going to dothat this time around.
But we are seeing declines insome areas of Florida, for
example, at 19% already, andsame in Texas.
It's happening.
There is a softening of themarket.
The Northeast, as we've alreadymentioned, is somewhat
protected.
Just go ahead and get yourinspection, even if you are
(33:13):
listed already.
Talk to your agent, say, hey,this would be a really good idea
.
If you haven't listed alreadyand you're anywhere in the
country, we can set you up withour very highly trained CPO
experts.
You don't have to have a cashoffer.
The cash offer does become aCPO listing.
However, if you want to pay forit yourself, that's fine too.
(33:35):
Go read the chapter on the appat Listing Royalty.
That's Listing Royalty.
Or just go get your home valueat All Star Home Values
Allstarhomevaluecom.
Allstarhomevaluecom.
If you go to All Star HomeValues I bought that domain too
that one works as well.
Just in case it's a Saturdaymorning and I'm not saying it
(33:59):
quite the right way for you,it's Rowena Patton here on the
Real Estate News Radio Show, ifyou're just tuning in
828-333-4483.
Talking about getting your homeready for sale.
I think it goes without sayingget the outdoors cleaned up.
If there's a sign outside,people are going to do a
drive-by very often right.
(34:21):
So there are agents out therethat got used to the market
where they just put a signoutside and things sold very
easily.
And there's definitely buyersagents out there that,
especially if you're coming infrom another area and you go, I
want to see these 20 houses,they say, well, why don't you
take a drive by first?
Yes, I'd say that happens over50% of the time.
So they're driving by yourhouse and if it looks I mean I'm
(34:43):
not talking about, you know,cars up on a house break or
something but if it looks shoddyoutside and it just doesn't
have that, you know, welcomingappeal, it's not going to appeal
as well as the other ones thatare on the market.
And we're seeing a lot moreinventory on the market now.
So you've already got your homeinspection.
Why you order that and you waitfor that can take a minute
(35:06):
sometimes.
So go ahead and order it now.
We can get that set up for youanywhere in the country
828-333-4483,.
Or go ahead and get your homevalue at allstarhomevaluecom.
Put a note in there that youwould like an inspection and
we'll get your local highlytrained agent that's in our
program to reach out to you andget that all set up for you
(35:31):
important thing to do now.
Let's look at the outside.
Maybe you can do it yourself,maybe.
I was talking to a lady lastweek who has a chronic illness
and both her parents passed in2024, the beginning of 2024.
And now she's thinking aboutselling the home.
She was going to rent it out.
She spent a bunch of money.
(35:52):
This is one where, when Ilooked it up, you guys, and put
it in for the cash offer Ilooked it up 700 square feet had
been added in the basement.
So all the numbers were wrongand I can tell that, and I can
certainly tell that by talkingto you, and we have agents who
are trained to look at thisbefore you go in and start
(36:13):
correcting those figures.
It's very, very importantBecause you can say, oh well, we
did this and we did that and weimproved it and we added this
square footage.
But if it doesn't say that onthe national sites, people
aren't looking at you in thefirst place or they're thinking
your home is overpriced, right,because of these national big
box sites that have got thevalue on there.
So let us help you with that.
(36:34):
Allstarhomevaluecom.
Obviously go ahead and put awayas many personal things as you
can.
Take the stuff off the fridge.
I see this all the time when Igo into Lister Home.
It's just plastered all overthe fridge.
Put as much stuff away.
Buy some of these plastic tubs.
The clear plastic tubs aregreat.
If you're on Facebook, go lookat smarthomechoicescom not
(36:58):
smarthomechoicescom, excuse me,smarthomechoices.
Look that up on Facebook.
I've got lots of links for you.
The clear tubs are on therewhere you can start packing
stuff away, because you knowthings like blenders that you
don't use very often.
Maybe Put it away.
Put away as much as you can usevery often.
Maybe Put it away.
(37:18):
Put away as much as you can.
Make that kitchen look largeagain.
Let's make kitchens look greatagain.
Let's go ahead.
And there's also some hardwareon there that you can kit out
your kitchen.
If you've got the old fashionedhardware, you can kit out your
kitchen for about a hundredbucks.
You can get the long modernhardware.
If you just kind of paint yourcabinets white, that makes it
even easier because you canchange the holes in there where
(37:40):
you fill them.
There's all kinds of things youcan do to get it ready and the
best thing to do is, if you'rethinking about selling is get
your agent out now and say whatdo I need to do to maximize the
value of my house?
That's why many of you go ohwell, we know we need to paint
it or we know we need to do this.
Guys, here's the thing.
Time is not your friend rightnow.
(38:01):
I've been saying this for overa year and now we're in this in
many areas of the countrydeclining prices.
So don't wait it out.
Get us in there now.
We're not going to push you tosell now.
I've been working with peoplein some cases for 17 years, yes,
really.
So go ahead, give us a call828-333-4483, anywhere in the
(38:22):
country or start your journey atallstarhomevaluecom, which will
at least kick it off.
Right, you want to start yourjourney now.
We've got the eyes where we cancome in and say, okay, here's
the deal, you don't need topaint it or you don't need to
change your countertops, or it'snot worth doing that because of
the decline in price or therapidity of the decline in price
(38:44):
right now.
You want to get out now ratherthan wait the month or two
months that it's going to taketo get your new countertop on
the money it's going to take.
Whatever it is, we can adviseyou on that.
Guys, we're out those of us whoare experienced, who sell a lot
of houses, we're out in themarket all the time.
We see what's out there, weknow what you need to do to
(39:10):
improve the value of the house.
The best thing to do is get usout there to take a look.
828-333-4483.
We're on call 24-7.
We can set you up anywhere inthe country.
We've got agents standing by inthe network everywhere in the
country.
828-333-4483.
This is Rowena Patton at eXpRealty.
We have agents in the networkfrom all different real estate
(39:33):
firms because we want the best,most highly trained agents,
especially when you're sellingyour home.
So I want to take a turn hereand talk about some of the major
natural disasters that we'veseen in the USA in the last 12
months.
So obviously we have to talkabout Helene and Milton.
(39:54):
So, starting in September andthen October just last year,
helene made landfall inFlorida's Big Ben region in late
September 2024, causingcatastrophic England flooding
across North Carolina, tennesseeand parts of the Midwest as
well, and it resulted in over200 fatalities.
(40:16):
The numbers are always sowoolly on those.
Over half of those were inWestern North Carolina and
approximately 120 billion indamages, making it one of the
deadly and costliest hurricanesin recent history.
Milton struck just two weekslater near Siesta Key, florida,
(40:36):
leading to extensive flooding,widespread power outages
affecting over 3 million homesdirect hit.
And now has her daughter,son-in-law and grandson living
with her in Bradenton, and youknow I've heard firsthand all
(41:07):
the changes in real estate inthat area.
Then we had the Westernwildfires in the summer of
summer to fall of 24, withCalifornia, oregon.
Really, sophie, you thought itwas that good.
My little doggie is in thestudio today.
So California, oregon andWashington unprecedented wire
(41:27):
fires, with California's ParkFire destroying over 700
structures and burning more than170,000 acres Amazing.
These fires led to significantproperty losses, obviously, and
strained local housing markets.
And then came the Michigan icestorm.
It's like it didn't stop.
(41:48):
This year, a severe storm innorthern Michigan damaged
approximately three millionacres, three million acres of
trees, and disrupted power forhundreds of thousands of
residents.
The storm's aftermath hasraised concerns about long-term
impacts on infrastructure.
Here we go and potential futurewildfires due to the damaged
(42:11):
vegetation.
And then we have the Arkansas,and still nobody can tell me why
.
It's not Arkansas, but thereyou go.
And then we have the Arkansastornadoes.
In March, multiple tornadoessweeping through Arkansas,
resulting in the destruction ofhundreds of homes and the
displacement of over 200families.
The state's request for federaldisaster aid was denied,
(42:37):
highlighting challenges indisaster response and recovery
efforts.
Then we had the Californiawildfires, of course, in 2024.
Devastating wildfires led tosignificant financial losses for
insurance companies, with theHartford Insurance Group
reporting $325 million that'sjust one group alone in losses
due to the events.
The increasing frequency andseverity of wildfires have
(42:59):
raised concerns about thesustainability of insurance
markets in high-risk areas.
So insurance challenges thesurge in natural disasters has
led to increased insurancepremiums and, in some cases,
insurers withdrawing from highrisk markets, making it more
difficult for homeowners to takecoverage.
I mean, many of you have feltthat.
(43:20):
What do you think about that,sophie?
Sophie?
Nothing, ok, I see.
And then housing supplyconstraints, destruction of
homes due to disasters,exacerbated housing shortages,
which we've had for years.
We're not building enough,probably due to what happened in
the last recession, which was aheck of a mess, with a lot of
(43:44):
builders going bust and then alot of the contractors who are
working for the builders goingbust as well, which obviously
did not help the situation.
And then migration patterns, sosome residents are relocating
from disaster prone areas toregions perceived as safer,
influencing demand and pricingin those markets.
(44:04):
For example, in Western NorthCarolina, we had a lot of people
move from California Buildingregulations.
This is a huge one.
So in response to these events,we've got local governments now
implementing stricter buildingcodes and zoning laws to enhance
resilience, which may affectobviously affects construction
(44:26):
costs and timelines.
In some areas, such as WesternNorth Carolina, they are
actually relaxing some of therequirements where you can build
more homes on the land that youhad.
So the nice thing is that youknow government controls can be
very, very important andrelaxing them sometime, relaxing
those restrictions is very,very important as well to really
(44:49):
get the housing market goingagain and to serve the people of
the area, which is what ourgovernment's supposed to be
there to do.
Right, this is Rowena Patton onthe Real Estate News Radio Show.
Give us a call,24-7-828-333-4483.
You can check your home valueand, most importantly, check the
(45:10):
data on your home, becausewhatever we've got chances are
that's what's on the internetfor your home and we can help
you put that right if it's wrong.
I would say about 40% of thetime I'm doing evaluations and
pricing and cash offers and CMAs, comparable market analyses for
people that are listing theirhomes every single day, and I
(45:31):
see this all the time, and alarge number of the data points
are incorrect.
So go ahead and put your homein at allstarhomevaluecom,
allstarhomevaluecom, or give usa call 828-333-4483.
838-333-4483.
So let's wrap it up.
(45:52):
I can't believe the time alwaysgoes so quickly.
The show's been running.
Now, guys, this is year 13.
Lucky for some right.
If you've been listening thatlong, I'm sure you started out
when you were 20, right?
So inventory shortage let'sstart off with that white spot
propping up prices.
We touched on this today.
Despite the market slowdowns insome areas of the country,
(46:15):
we're still seeing historicallylow inventory in many regions
and that, I think, is going tokeep prices from falling off.
A cliff in the markets wouldreduce buyer demand.
The lack of available homescontinues to keep values well
(46:40):
flat, in some cases declining alittle bit, but I'm not
expecting that big major droplike we had last time around.
New construction has slowedinterest rates, labor costs,
material shortages and thatcompounds the inventory crunch
and again, again, that ispropping up the prices in a
bubble or just a correction.
I don't think this is 2008.
Homeowners today have recordequity.
That's the other thing that'shappened.
(47:00):
They've got fixed rates,they've got stricter lending
standards.
So, you know, price correctionand a crash two very different
things.
And equity cushions and lendingpolicies, which have really
really gotten a lot more strict,are really important in that.
So interest rates what's comingthere are, you know, 6% to 7%
(47:21):
right now.
Many experts don't expect anymajor cuts until late 2025.
And, by the way, the 6% to 7%,that's normal 2025.
And, by the way, the six to 7%,that's normal.
It doesn't feel normal becauseof what we had a few years ago
in the high twos, which was, youknow, was not sustainable.
It was like free money forhouses.
But to many of us that boughthouses in that time, now it's
(47:44):
provided this lock-in, which Idon't think the government ever
or the feds ever wanted to do bythat.
But that's what it's done.
It's locking a lot of people in.
But that's kind of sad if youreally need a different house,
especially if you're rightsizing you're going for that
small house or you want to movesomewhere else, because you can
always switch out that interestrate and remember too, depending
(48:05):
on what kind of loan you've got.
It could be assumable.
Va's are almost a symbol.
We need to look at that verycarefully though, because of
your eligibility.
If you have a VA loan, it'sworth looking at that as well.
So, buy downs, rate locks, armsstrategies using cash offers
you know there's all kinds ofways where you can do buy downs
(48:27):
in there to get your rate down.
You can get your rate down toprobably not 2.8%.
You can with a huge amount ofmoney, but you know that's
probably not going to fly.
But you can ask the seller tobuy down your rate.
So therefore, you you know youwouldn't be you wouldn't be in
trouble.
Let's talk about the rise ofmulti-generational living.
We touched on Chris Marion inBradenton.
(48:48):
She's now housing her daughterand her daughter's family after
the hurricane, and it's one ofthe fastest growing trends in
real estate.
Whether for financial reasons,caregiving or just a different
lifestyle, a lot of millennialsare saying you know they're
going back to live with mom anddad, all their grandparents.
So there's a growing appeal ofhomes with in-law suites.
I don't think that ever wentaway.
(49:09):
So there's a growing appeal ofhomes with in-law suites.
I don't think that ever wentaway, frankly.
So what's your home reallyworth.
Go and take a look atallstarhomevaluecom.
Allstarhomevaluecom.
Or give us a call at828-333-4483.
And we will follow up with youfor comparables and a deeper
(49:33):
analysis.
It isn't just about selling guys.
It's about protecting wealth,lowering property taxes or
values and therefore taxes andplanning smarter.
And we're going to see this alot.
We saw it last time around whenhouse prices went down and you
were still paying those highproperty taxes.
You can't always get them down,but it's got to be worthwhile,
(49:54):
right?
You've probably heard that whenpeople have a medical claim,
they are very, very often denied.
I heard this again just theother day and I can't talk about
who it's from because it'ssomebody in the industry.
I used to work in the industry,so I saw this a lot.
But I had it first time theother day that a very large
(50:17):
percentage over 50% can bedenied from certain companies.
When you go in and put yourmedical claim in, however, the
vast majority on attempt two andattempt three do get passed.
So if you've been denied amedical claim, I want you to put
it in again and again.
It is worthwhile because thevast majority I think it's 68%,
(50:38):
something like that.
Go and do your research on itDepends on the company, depends
on you know what you're puttingthe claim in for.
Obviously, that makes sense,right?
Use your common sense whenyou're doing this stuff, but
ahead and put your claims in andobviously, check the value of
your home and, most importantly,check the size is correct,
because you've always got peoplelooking at the values on the
(51:00):
big boxes.
You all know who I'm talkingabout and the buyers go.
Well, the house on there onlysays it's worth four hundred and
twenty thousand dollars and yetit's listed at $520,000.
And we as a listing agent haveto say, well, that's because we
added 800 square feet in thebasement.
That's fully finished.
Remember, it needs that ceilingof seven feet high in most
(51:25):
areas in the country.
So make sure you've got thatseven foot high and most areas
of the country.
The space has to be contiguous.
In other words, if you finishedoff your basement area but
didn't finish off the stairsleading down to it and you
thought, oh, we'll get to thatlater, contiguous means the
space at the top.
You have to be able to walkdown the stairs that are also
(51:45):
finished and the area has to beheated as well.
In most areas it's heated andnot air conditioned for some
unknown reason, because imaginebeing in some areas of the
country without air conditioning.
I can't.
How do we live before I grew upwithout air conditioning?
Okay, I grew up in Englandwhere it's not so hot, so I
guess it kind of worked there.
Don't forget, go get the valueof your home at All Star Home
(52:08):
Value.
All Star Home Value.
Or give us a call, guys.
828-333-4483.
We can help you anywhere in thecountry.
We love to chat with you.
Or you can start with yourvalue online.
We can reach out to you.
You can put a note in there.
Hey, I was just looking for myhouse Value.
Don't call, or whatever it is.
(52:28):
Or please call me.
We're thinking about selling.
And remember, get your agentout there now.
We can save you a lot of money.
So many of you are thinkingyou've got to do this and got to
do that to make your houseworth more.
It may be that one or twothings, strategically placed,
save you a lot of money.
Normally we're coming out andsaying, no, don't do that.
(52:49):
We're not giving you a laundrylist of things to do.
So you know, just get us outthere now.
828-333-4483.
You can leave a message.
If you're anywhere in thecountry.
It may come directly through tous, just depending on who's on
call at that time.
As you can imagine, we'reprobably not at five o'clock in
the morning.
Well, maybe some of us areactually, but we're probably not
(53:10):
at five o'clock in the morning.
Well, maybe some of us areactually, but we're probably
working out at that time.
Give us a call.
We love to hear from you.
Thank you so much for listeningtoday.
This is Rowena Patton on theReal Estate News Radio show, and
you can find this podcast andall of the other topics at
realestatenewsradiocom.
That's realestatenewsradiocom.
Look forward to seeing you nextweek and thanks again for
(53:31):
listening.
It's great being with you on aSaturday morning.
Speaker 1 (53:34):
This has been the Plain English Real Estate Show
with Rowena Patton.
Visit Rowena and post yourquestions at radioashvillecom or
call her at 828-210-1648.
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