October 24, 2024 • 37 mins
Is the real estate market on the brink of a crash, or is there still hope for buyers in New York City, Connecticut, and New Jersey? Join us as we dissect the latest trends and updates, including the welcome news of mortgage rates dipping from over 7% to 6.9%. We’ll explore the resilience of the market despite ongoing rumors of collapse, especially during the bustling spring and summer seasons when families hustle to settle before the school year kicks in. Plus, we share a heartwarming anecdote about our team’s recent barbecue, illustrating the unparalleled joy of community bonding over a good backyard space.
First-time homebuyers, this episode is tailored just for you. We know the rollercoaster of emotions you face, from anxiety to excitement, and we emphasize the irreplaceable value of firsthand experience in the buying process. Learn why transparent communication with your realtors and mortgage brokers is crucial in alleviating doubts and reinforcing confidence. We provide practical strategies to navigate your nerves, ensuring you’re well-informed and ready to make those significant financial decisions.
Think you can take any chances during the home-buying process? Think again. We highlight common pitfalls that could jeopardize your purchase, such as opening new lines of credit or making undocumented large deposits. Hear real-life cautionary tales about buyers who faced setbacks due to job changes or inconsistent documentation. We unravel the importance of thorough title checks, stable employment, and choosing experienced agents. With our tips and advice, you can avoid unnecessary stress and ensure a smooth, successful real estate transaction. Tune in for a wealth of knowledge and strategies designed to bolster your confidence and decision-making in today’s competitive market.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:03):
the real estate market update.
Hello everyone, welcome to suitup with bias podcast episode
number 10.
I'm alex bias and I'm here withmy co-host, angela bias, and
we're excited to talk about somethings that's going on in the
real estate market more thananything right in new york city,
connect, connecticut, jersey.
(00:24):
So we got some updates for thepublic guys, so we're excited to
share with you guys.
Talk to me, angelo, yeah.
Speaker 2 (00:30):
Give it to us.
One of the updates is that ourlender has informed us that
rates have gone down.
Ooh, that's good.
Speaker 1 (00:38):
Right At the right time too, so rates are coming
down guys.
Speaker 2 (00:47):
What were the rates before?
I believe they're down to 6.9,from what I heard, and they were
above seven.
Speaker 1 (00:50):
So pretty good little change, oh yeah because last
week, I think, was like 7.4, 7.5, so it's definitely been a
decrease.
At least we're gettingdecreased, right?
That's what matters, right,guys?
The rates are starting to godown.
So that's a good sign, guys,the rates are going down, right.
But guess what, guys?
Speaker 2 (01:05):
it's a hot market still it is still, it is people
been thinking like the marketwas gonna go down.
Speaker 1 (01:10):
Angelo right.
We've been hearing this forsince covet oh, it's gonna crash
, it's gonna crash and sincecolby been around almost three
years and nothing has happened.
What I have seen is the markethas been stronger and been
stable and I've been seeing theprices going up and I'm seeing a
lot of competitive buyers outthere.
Speaker 2 (01:28):
Oh yeah, without a doubt.
I mean, we've been getting somuch business as of lately, but
it's also because we're in thattime of the year as well.
What?
Speaker 1 (01:36):
time it is, guys, it's springtime summer.
Springtime summer, guys isactually one of the most busiest
time for all realtors umhelping all these buyers and
sellers.
Tell me why, angel?
Why do you think it's more?
Speaker 2 (01:49):
busy in this time.
I think it's because theweather has calmed down and you
don't want to be moving rightwhen it's too hot or too cold.
So right there in the spring isa nice little segue, because
yeah you start preparing for thesummer.
Like you try to get a home inthe springtime, you move into it
, hopefully by the end of thespringtime, and then you get to
enjoy your house in the summerand yeah yeah, I'm with you, but
(02:13):
yeah, I think, more importantly, those parents that are out
there.
Speaker 1 (02:15):
Like myself, when I moved from bronx to westchester
county, um, one thing that wasmade for me was my son's school,
so one thing most parents arebuying around springtime,
summertime, so when Septembercomes they already have a place
of school, wherever they'relocated at.
So it becomes very competitivefor buyers to buy in this time,
(02:35):
right now, because a lot ofparents, a lot of family, are
preparing to find their childnext school.
Also, the weather right.
You want to do barbecue?
You want to enjoy the backyardof your house?
We just had one yesterday.
We just had a beautifulbarbecue yesterday for the team
was a great, a great month forus, so got some steaks for the,
for the guys, and what kind ofsauce do you use on on that
(02:56):
steak, because it was really Ican't put that out there, man,
whenever you guys come to mybarbecue.
It's good steak, it's a goodsteak sauce that I created.
Speaker 2 (03:04):
Yeah, I ate pretty much the whole thing.
I only left the bones.
I even ate the little inbetween, really, yeah.
Speaker 1 (03:11):
That's the good thing .
Right, I did a barbecue for theteam.
I mean, this guy's been doing agreat job helping out these
clients and I think theydefinitely deserve the big, nice
steak for everyone.
Speaker 2 (03:19):
Yeah, it was good.
Right, it was really good.
Speaker 1 (03:22):
And the smell was really good right.
Speaker 2 (03:24):
Yeah, yeah, I'm telling you, I only left the
little bones in there.
I ate in between the thing.
Speaker 1 (03:30):
Yeah, yeah, it was really good, I got you guys
again, don't worry about it.
Speaker 2 (03:33):
Coming soon.
Speaker 1 (03:34):
But yeah, it's always good to buy your home right,
especially with a nice backyard.
In this Right you want to donice, don't go crazy.
Don't go crazy, guys, becausethen you don't want to come into
that neighborhood, especiallyif it's peaceful, quiet.
You don't want to bring thatnoise over here.
Wherever you decide to move,but as long as you speak to your
neighbors respectfully and askthem permission Not ask them
(03:55):
permission, but let them knowout of courtesy, like hey, I, to
build a nice relationship inyour neighborhood, especially if
you got neighbors, and when youyou want to have that
relationship because you don'twant to live at a place that
your relationship is not thebest with your, with your
neighbors, you should invitethem as well yeah, why not
invite your neighbors right now?
Speaker 2 (04:13):
just let them know, and let them know that, hey,
you're here if, uh, you want tocome, open invitation for them.
Speaker 1 (04:18):
So in my neighborhood .
I'm actually the only one thatI see that I have.
My kids are small.
Everyone in here is like mostlyelderly, retire, yeah, so
that's why it's extremely quietin this area where I'm at.
So you really don't see kids,right, when you come here, you
don't really see kids.
Speaker 2 (04:32):
I do see kids just because there's a school down
there, but it's not for theneighbors.
Speaker 1 (04:36):
My neighbors don't have kids.
Because that's the first thingI looked, because I was like you
know, I want to leave it tohave his little friends around
here.
So I was like let me lookaround and I noticed that all my
neighbors are just elderly.
They're not really.
They don't have no kids.
I guess they're done already.
Yeah Right, so me and Heidi arenot done.
I mean, we're not having nomore kids.
Speaker 2 (04:54):
Right, I mean the only kids that I see around here
are driven from the far west.
That's why it's a little bitcongested.
When you come here you kind ofsee all these buses going into
that school in here.
Speaker 1 (05:06):
So most buyers love buying this area Not this area,
but like buying this type ofweather spring, summer because
you want to enjoy the backyard,you want to invite your family
over, you want to have a greattime and you also want to make
sure you find a school for yourson or daughter on time, because
that's one thing.
When you moved out like, forinstance, I moved out around, I
bought the house and I moved out, I think in September Honestly,
(05:27):
my wife, we had so much goingon.
We had to find Levi's school inYonker and then we had to take
him out of school to the Bronxand he didn't want to leave and
that was a bad experiencebecause that transition for a
child was big from the Bronxbring him to Yonkers.
And I'm like yo, this is notgood for Levi.
So he was always crying, he wasupset, um, he missed his
friends.
So we had to figure it out, buteventually, you know he had no
(05:51):
choice yeah, I mean, change ishard.
Speaker 2 (05:53):
Yeah, the change is hard for kids.
Yeah, I mean, you're leavingsomething that you were so
adjusted to, had a lot ofprecious memories with, and now
you're going into somethingcompletely new that you don't
know whether it's going to begood, bad or whatever, but you
already knew there was a goodthing back there.
Speaker 1 (06:09):
I've been noticing that more buyers are starting to
accept and understand.
We've got no choice about therates and I like that a lot,
because the reality is like am Igoing to continue paying a
hundred percent of rent or I'mgoing to pay a six 7% of
interest?
Right, and remember, guys, allabout your credit score.
Your credit score is best.
You're good right right.
(06:30):
You got the best rate as themarket's offering.
Speaker 2 (06:32):
It's honestly, like we've talked about previously in
podcasts.
It's like um, you really justwant to pay attention to the
monthly payment that you'remaking and if it makes sense for
you and your family, then gofor it.
I mean, the only reason why youshould ever be buying a home is
not because you want a home,it's because you need a home.
Yeah, good point, right,because no one is out here just
(06:53):
wanting to spend what?
$500,000 for a home becausethey just want a home.
No, no, no, it's because theyneed a home, they're growing a
family, they need more space,maybe need a home.
They're growing a family, theyneed more space.
Maybe they need an office spacealong with the kids and all of
that on the side.
Speaker 1 (07:09):
So, yeah, I mean, home is actually good.
You know, I'm happy youmentioned the topic about office
.
So most members since covet alot of people working from home.
Yeah, so, guys, a lot of people.
What they do is that they grabthe basement and do they do an
office space completely.
I'm one of them.
Right, a lot of people do thatand you could be working from
home.
Right, some people got of them.
Right, a lot of people do thatand you could be working from
home.
Right, some people got used toit.
Since COVID happened, a lot ofpeople adapt to work from home
(07:29):
and people are used to workingfrom home.
So, buying a home you couldalways do, like one of the rooms
in the office for yourself orthe basement for an office.
So it's beneficial to own ahome.
Yeah, in that case, because forlike, especially Especially if
you work for yourself or if youwork from home or your job
allows you to work from home,you want that space and you need
the spaces.
Having a basement, having anempty room for your office space
(07:52):
, I mean that's a plus.
Speaker 2 (07:54):
Yeah, because you need to be able to separate your
living environment right upthere to another floor or just
another room.
That's just for you and yourbusiness.
No one can enter this placeLike this is just you, your work
and that's it yeah.
Speaker 1 (08:11):
I do want to reach out to people.
Let them know that, right Angel, feel comfortable, reach out to
us.
We're open to hear questions,calls, texts, emails.
We're that team that we lovegiving as much information out
there to the public on realestate.
Speaker 2 (08:27):
Especially if it's a really good question that we
don't know the answer to justyet.
It widens our horizons andwe're kind of like, oh, we don't
know, let's figure it out,let's see how we can answer.
We have all the sources, though, to get you guys to answer.
Speaker 1 (08:41):
We have one of the best referral bases so we'll
finance it.
We'll get you guys to answer wehave one of the best referral
bases so we'll finance it.
We'll get your best referral.
If you need contractors,plumbers, electricians, anything
that rolls around real estate,we have it for you guys.
We have all those contacts andmake it easier for you to be
stressed, because being arealtor, being in real estate,
you need a realtor.
I think that's something that'svery important for the public
(09:03):
to know you estate, you need arealtor.
Speaker 2 (09:04):
I think that's something that's very important
for the public to know.
You need a realtor.
You, you don't just need arealtor, you need a realtor that
has the connections in theindustry, because if it's some,
you could, you could hire arealtor and they know what to do
, right.
But if they don't have theright people, the right contacts
, then it's very hard for themto get stuff done, because then
they have to be reaching out andmaking calls to see, hey, does
(09:25):
this person know their stuff,can I trust them and whatnot.
And that's something that youprovide right.
You've talked to so manyprofessionals around the
industry and you've basicallyvetted out which ones are
probably the best for eachcategory.
So now when you have anyquestions, you know that you're
getting an answer from prettymuch the very best of those
people.
Title we have a wonderfulperson named maria, and so on
(09:49):
and so on, heidi being ummortgage broker, mortgage broker
, a lot of different people inour industry that you've
personally kind of met and knowlike they know their stuff, they
absolutely know their, and if Ineed any question whatsoever
related to those things, I cancount on them because they've
never failed me Never, yeah.
Speaker 1 (10:11):
I got a big topic I would like to talk about.
I think a lot of people don'ttalk about.
In the process of buying right,there's a lot of emotions.
Oh, there is A lot of emotionsand I want to get in detail with
the emotions for buyers whenyou're purchasing.
It could be scary because, I'lltell you something, when I
first bought my property, I wasscared, right, because you're
putting almost all your savingsinto this property and you hear
(10:32):
all these, um, sad news ofpeople going through foreclosure
, short sales.
Right, you want to prepareyourself not to go through that,
right, so you got to befinancially ready to buy a house
, because buying a house, youknow, I know there's people out
there they all wish they couldbuy a house, but they also have
that second doubt, which is thefinances, right, which is very
important, right.
So I want to talk about angelo,with you, about the buyer's
(10:53):
emotions and sense, like, howcan we help the public to
understand that it's a lot ofemotions when you're purchasing?
Right, and it's veryunderstandable because it's your
life saving most, most peoplewith their life saving.
It was my life saving when Ipurchased, exactly it was like
yo, I'm buying this house andI'm not staying with nothing in
my account, but I, you gottasometimes sacrifice, guys, and I
(11:13):
and I say it to everyone if youdon't sacrifice, you're not
gonna see the results.
You have to sometimes sacrifice.
Throw yourself out there andI'll tell you something.
A lot of buyers, they go andcall the neighbors, they call
the next door, they do this.
I'm gonna tell you something Alot of buyers, they go and call
the neighbors, they call thenext door, they do this.
I'm going to tell you something.
You guys can hear all thestories you guys want from every
neighbor, every realtor, everyfriend that you guys might know.
But one thing I'll make itclear to you until you don't
experience it, you don'tunderstand it.
Speaker 2 (11:35):
Yeah, I mean this goes back to like something that
came to me when I was firstjoining real estate.
It's like I had so many worriesabout like how am I gonna learn
this?
And it's just so muchinformation.
But once you're actually in it,it's fun.
You, you started experiencinglike the real things that you
should be worrying about and howto solve them.
(11:56):
Yeah, and you learn around.
Uh, you learn through theprocess a lot of the time.
You try to do so much studyingso much, like you know, homework
to kind of get yourself ready,and that's good, but the problem
is that you're not actuallythere.
Speaker 1 (12:13):
Uh, you actually I'm happy you mentioned that, so I
feel strongly about that.
Yeah, you guys could read, youcould watch youtube video, you
can educate yourself.
Those are good things to atleast get an idea abroad of what
you're getting yourself into.
But till you experience it,that's when you learn the real
deal oh yeah that's the only wayyou're gonna real, the real
deal.
Speaker 2 (12:30):
Yeah, because I've heard a lot of things that I
shouldn't have done right, likeprior.
But once you're in it, youstill make the mistakes and then
you learn from it.
You're like, okay, now it'sbecome real to me because I've
experienced it right, and it'slike you really don't.
Nothing can really prepare youfor anything until you're in it
(12:54):
and you're really like you're inthe process and have a home.
Speaker 1 (12:59):
Yeah, I'm with you 100.
So, guys, it's a lot of emotion, but let's get into the
emotions, angela, the emotionsTalk to me.
Give me at least one I'll startoff with.
When a buyer is purchasing,they get nervous and what they
do, and it's normal, guys.
I'm going to tell you guyssomething when you feel like
that, the best thing you guysshould do is reach out to your
(13:19):
broker, your realtor, and letthem know how you feel and let
them explain to you where we at,because it's very important
that when you're feeling likethat, speak to your realtor.
If you're feeling that, I thinkit's more of the communication
of the realtor, because if Iexplain to you everything that's
going on, angelo, you know youcan feel a little comfortable
and confident that my realtor isgoing to get this done for me
and he's going to, you know,provide the service the right
(13:40):
way and guide me the correct way, most importantly, right.
So I got I got clients that theyget extremely nervous and what
they do when they get nervous.
Right, they start talking totheir neighbors.
The neighbors start tellingthem more stuff, getting them
even more anxious, more nervous.
That's what I notice.
They start getting nervous, um,they start doubting it
tremendously.
They start thinking aboutbacking out and all these things
.
But because they're givingtheir license and I get it
(14:01):
because I was there I was goingcrazy when I first gave my
person and I about backing outand all these things.
But because they're givingtheir life savings and I get it
because I was there I was goingcrazy when I first gave my
purchase and I was just worriedabout those payment monthly.
I was just worried about it.
But you start seeing, like man,this is worth it when you do it
right, because I'll tell youguys something.
When you start feeling like that, also speak to your mortgage
broker.
Talk about your numbers, yourpayments, your like that also
(14:23):
speak to your mortgage broker.
Talk about your numbers, yourpayments, your, your closing
calls.
It's very important for youguys to know your closing cost,
your monthly payments, all thisstuff before you sign the
contract, guys and our team,we'll prepare you and we'll let
you know what's your monthlypayment.
We'll let you know your closingcosts and we'll go over every
number with you so you can knowexactly what are you going to be
paying at closing angel.
So all that before you getsigned the contract.
You know what you're gettingyourself into.
We disclose every bit that wecan when you're purchasing.
(14:47):
So what do you think about thatAngel, about these emotions of
the buyers and how to avoid them?
Speaker 2 (14:53):
Yeah, I think that, just adding on to what you said,
nervousness is definitely oneof the biggest emotions that we
encounter, especially onfirst-time homebuyers First-time
homebuyers that don't knowanything about the process
whatsoever.
That's where you really have tobe a teacher and just be
explaining everything, um, andthey're always.
(15:15):
I don't think I've seen afirst-time home buyer who wasn't
anxious, you know, because it'slike, like you said, I'm
spending all this money, right,I want to make sure this is
perfect, like I want to makesure that I'm not making no
mistakes or anything like that,right On point and all of this.
So that's why it's our job asrealtors to assure them that
(15:37):
we're here, this is what we needto do for the next step, and so
on, so on, so on.
Always clarify what is beingdone and what needs to be done,
and that gives people moreassurance and stuff.
Because if your agent is notguiding you the proper way, then
that's when you would feelnervous.
When they're not communicatingwith you, when they're not
(15:58):
telling you what's going on.
That's when I've seen thingshappening like that.
For instance, I had a selleronce tell me that their agent
was essentially a littleuncommunicative with them, and
the only reason they told methis was because I went to a
final walkthrough, basically seethe property and the seller was
(16:18):
essentially there and they werelike you know, I really wish
that my agent was a little bitmore communicative, because I
didn't know this was happeninguntil the last second and this
made me have to fly over fromanother state over here.
Oh my god, last minute and itjust caused a lot of like
anxiety and that's huge, guys,is make sure you're in
(16:39):
communication when you wroteabout about every little thing.
Speaker 1 (16:41):
When you're in the process of purchasing, guys,
make sure you're incommunication with your realtor
and your mortgage broker or yourbanker.
Yeah, right, in every step thatyou do and then you got doubts.
Make sure that all this is donethe right way.
All right, I want to talk aboutnot to do when you're
purchasing.
I think that's huge, becausemost of these buyers are nervous
and anxious.
They do things they're notsupposed to do.
(17:02):
One thing I think you'resupposed to do is be in
communication at full time withyour realtor, your mortgage
broker, your attorney and, ofcourse, your banker.
If you work on a bank ormortgage broker, I recommend
always brokers, guys.
It's faster to process, lessstress and less closing costs.
Speaker 2 (17:21):
Angela, what do you think a buyer should not do?
Things that a buyer should notdo.
I think your lender wouldprobably be saying these things
but do not open up new lines ofcredit.
Do credit, do not?
You mean lines of credit?
Uh, you mean like credit cards,credit cards, correct cars,
cars, like anything that youfinance.
Well, all money on exactly,financing.
Don't do that.
(17:41):
Also, don't put so large of asum of money in your bank
account in one single day.
Spread it throughout.
I'm not sure how much is thelimit that you can put per day,
but if you reach a certainthreshold per day, then the bank
has to kind of settle the fundsand that could take a while.
Speaker 1 (17:59):
One thing that's huge the account that you're using
to purchase.
Right, make sure you're notdoing no transfer, large
transfers of money or depositinglarge transfer without having
the evidence where you got thedoing no transfer, large
transfers of money or depositinglarge transfer without having
the evidence where you got themoney for proof, right, don't
withdraw so much money as well,right, when you're in the
process of buying, you got to bevery limited with your accounts
, very limited on what you dowith your credit, right, you're
(18:21):
not supposed to do anything withyour credit until the purchase
is not done, right, because youdon't want no hiccups in it,
right?
So one thing I would say don'tdo that Also, guys.
More importantly, angelo, let'stalk about what happened to one
of your clients, but I'll share.
Speaker 2 (18:34):
Definitely, do not leave your job while you're in
the process.
Speaker 1 (18:36):
Angelo share that story that we actually went
through recently that buyer,that she, actually they were in
the process of purchasing aproperty right and in the middle
of it, just he just changedjobs yeah, I believe there was
also another thing on top ofthat.
Speaker 2 (18:54):
the family um had essentially been very ecstatic
for purchasing a home and theywere all good to go.
We had an accepted offer, wewere going through the process,
they were going along doingeverything that we told them to,
and then we did specify to themthe do nots, because that's
very important.
We always try to tell them,like do not do this, do not do
(19:16):
that, but it's up to them ifthey want to listen or not.
At the end of the day, we can'tforce them to do anything.
We could just give them adviceand try to guide them as best as
we can.
What ended up happening is thatthroughout the process, they
said that they wanted to put abigger down payment in there, so
they were contemplating puttinga bigger amount, but it was all
(19:38):
cash into their account thisclient actually had the, the
business that we're running.
Speaker 1 (19:42):
It's mostly cash flow that comes in the business
right, yeah they were running abusiness with mostly cash.
We had, like a smoothie businesswhere it's mostly cash flow
that comes in and business right.
Yeah, they were running abusiness where it's mostly cash
flow, like a smoothie business,where it's mostly cash flow that
comes in, and I'm not sure howher taxes were, but it seems
like her tax return wasn'tbasically showing all that cash
flow that she had going on inher business.
And that's all red flags to thebank, right, because they got
to verify this money is beingIRS Correct and that's an issue,
(20:05):
a big issue.
Guys also don't get fired whilein the process.
Yeah, they change jobs in theprocess.
Oh, they also change jobs in theprocess.
Speaker 2 (20:13):
Yes, I believe they changed.
Speaker 1 (20:14):
Well they had so much going on, guess what happened?
They got a denial letter.
But have in mind, guys, allthis that we're saying to them
we have a buyer consultationbefore we come in and show you
property, before we teach youeverything, we give you, guys,
every details of what not to do,what to do and basically the
whole process of purchasing.
We explained to her not once,not twice, not three, like three
(20:35):
, four times, because me and you, andrew was working with her we
explained both, her wasexplaining her, uh, the whole
process and she still did whatshe, she thought she could have
got away with it.
Speaker 2 (20:43):
And even then, right, even though they put the large
sum of money in there, we werestill trying to work with them,
talk to the bank, see if we cankind of get this a little bit
situated.
But the nail on the coffin waswhen job transfer, job transfer.
We were like there's so much wecould do.
Right, we're still helping,right, we're still trying to
figure it out.
We said, don't do this.
You did that.
Okay, it's no problem, we'lltry and see what we can do.
(21:05):
We're working it.
And then you hit us withanother nail in the coffin.
Speaker 1 (21:09):
It's like ah we are definitely guys problem solvers.
That's what we are.
We're very creative and problemsolver, but it's to a limit.
Yeah, Like you said, angela.
Speaker 2 (21:17):
Yeah.
Speaker 1 (21:18):
We can only do so much.
We can only do so much.
One of the big things that Idid see, I experienced one.
Guys do not get fired while inthe process of purchasing.
I'll tell you why.
The bank is called Verificationof Employment.
They're going to reach out toyour employee to make sure that
you're working.
(21:38):
And guess what?
Even at the closing they'regoing to call in.
So guess what happened?
We were in contract for, Ithink, two months.
We had our schedule, everyonewas set, we had the clear to
close.
We were excited, we all at thetable at the closing.
Things happen, guys.
Don't think that you're at theclosing, things don't happen.
Things happen at the closingright.
My only time that I experiencedthat at a close did you say when
(22:00):
we take you to the closet, youguys are very well prepared and
well informed what you need todo, what not to do.
This client this client was notmy buyer, by the way.
It was on the other side of thebuyer agent.
I was the listing agent.
So we go to the closing angeland we excited.
They're about to start cuttingchecks out.
Everybody's excited.
I'm there with my gift from myseller.
I'm super excited, dude.
(22:21):
So, as we are there, the bankattorney gets up and says like
that, like cut this off, and Iwas like wait what?
He was like that's it, it'sbeen adjourned, disclosing I was
like wait what?
And I was like wait what?
I thought it was a joke, right.
I think it was in April too, soI thought it was probably April
Fool's, I don't know.
I looked at the guy like whatand client.
(22:54):
Because it's kind ofembarrassing, they went outside
and spoke to attorneys and theattorney came and told this
close to the seller, that thebuyer actually got fired 24
hours prior to that closing.
Wow, so they call.
They call to verify theemployment.
They call the employer,employment and they found out
that the client actually thebuyer actually got fired 24 hour
.
And guess what?
The bank, right there, deaddeal.
She got fired.
She thought she was going toget away with it, but I mean,
anyone would think that right,because it's a day before
(23:14):
closing.
So we already scheduledeverything.
Everything's set.
The bank had already passed thefunds to the bank attorney.
Now it's not how it works, guys.
The bank is verifying man, justthink about it.
They're going to come and giveyou five hundred, seven hundred
dollars.
New york, you know the pricesare nice.
They're going to give you thisamount of money.
Do you think they're going tohave to verify this?
If you're lending someone somuch money, angel, what will you
(23:34):
do?
Speaker 2 (23:35):
Exactly.
You got to make sure thateverything is perfect Nothing,
for example, a recent closingthat we went to.
One of the things that youshould always bring to closing
right is, well, of course, thecertified check that your
attorney tells you to write, andalso your photo ID a government
photo ID, right, and also yourphoto id a government photo id.
What ended up happening is thatthis client they didn't tell
(23:57):
her to bring a government photoid, but they told her to bring
the certified checks and whatended up happening is that in
the loan it states her middlename, and when they were going
through all the documents, theywere like, okay, we see this
name and this name, but we don'tsee that middle name.
And they were like do you haveany certification, right, like
(24:20):
any identification that?
Speaker 1 (24:22):
shows her full name the way it is on the right on
the loan and all of that.
Speaker 2 (24:25):
They basically said, no, I don't.
And so we were there 30 minutestrying to discuss how we would
be doing this.
Oh my God, yeah, and it wasjust such a headache.
Speaker 1 (24:37):
You know, right now people don't even understand
that With your name, it needs tomake sure that every document
is correct, like your ID.
One thing, guys I did notice ata closing, angelo, that now
you're talking about IDs, guys,you need to verify that your ID,
the date is not expired.
Guys, if it's expired, youcannot close.
Just know that because itexpired means it's no good,
right, even though your name andeverything is good.
(24:59):
But if your ID is expired,angelo, you can't close.
I didn't know that, yeah, soyou need to always verify that
it's not expired, your ID,gotcha.
And when I tell my clients Ialways say bring your ID, make
sure it's not expired, or bringa password.
It's not expired, right, justmake sure it's nice, like if
it's expired, you're not closing, like you need to make sure.
And also, your name needs tomatch with your docs.
(25:19):
So when you're working withyour lender, when you're working
with your attorney, every,every letter matters in your
name, right, because just oneletter, it's a big difference,
guys, exactly, you might see asmall, but it's not especially
middle names.
Guys, at your middle name youhave a middle name.
Add your middle name.
That's what happens.
She was missing.
Her middle name correct,correct.
Speaker 2 (25:37):
Middle name and you need identification that shows
your full name, you know.
Yeah, whatever it's on the deedor on the loan, whatever, you
have to make sure that you bringsome form of identification to
make sure, because, remember,this is a really big transaction
.
Every need, everything needs tobe perfect, needs to match.
Yeah, it's not that scary yourprocess, just make sure that
(25:58):
everything you know why, though?
Speaker 1 (25:59):
because then, when you're in the process of you
know, you know, especially withthis, that for all with where
identity, you have to be likethat, so title company has, has
no choice bank, have no choiceto make sure every, even your,
your date of birth, everythingneeds to be exact the same,
because it's not a deaf identityin this world, unfortunately.
Speaker 2 (26:19):
I believe one of our previous guests either it was
Maria or Franklin yeah, that shementioned that he had the same
name as his father.
Speaker 1 (26:26):
His father was alive and the son was trying to sell
the house.
But you know the only reason,title company caught on in it
because of the age.
It was like literally the yearhe was born, the year the house
was bought.
So that's the only reason theygot called.
He almost sold the housebecause he had the same name as
his father.
So, yeah, he almost got away.
I don't know.
I've seen some stuff Like, forinstance, my first closing was
(26:49):
like five hours and I didn'tknow what was going on.
I was having a hard time.
I didn't know what was going on.
I was like what's going on here?
I was like, damn, real estateis hard, but damn, I didn't know
it was this bad.
The only reason it took fivehours, angel, was because the
person that was selling thehouse, his grandson, had the
same exact name as him and guesswhat?
He owed to the IRS.
So they, you had to get anaffidavit.
(27:10):
He was in Florida, by the way.
You got to get an affidavitsigned, sent, mailed and
everything Stamp and notarizethat he was actually the
grandfather.
He wasn't the grandson.
Speaker 2 (27:18):
Because one owed money to the IRS, the other
didn't.
Speaker 1 (27:21):
Oh guys, you owe money to the IRS.
Buy or sell it, you're notclosing.
Oh yeah, I'm telling you thatright now, irs anything with the
city so guys know this Anythingwith the city, for instance,
tickets violations, all thatstuff, guys IRS especially.
You won't be able to sell yourhouse especially, or buy.
They need to collect theirfunds or they won't be able to
(27:42):
give you guys a loan.
Speaker 2 (27:43):
Oh, we had a file like that.
Had a lot of files.
Speaker 1 (27:45):
People owe money.
Speaker 2 (27:46):
Tickets Parking tickets.
Speaker 1 (27:49):
I don't remember how many tickets he owed, I think
like six, yeah, I had one thatowed like six.
I had one client owe $150,000to IRS.
Speaker 2 (27:56):
He thought he was going to get away with it, but
he got caught.
What was most of it for?
Speaker 1 (28:01):
Reality.
We don't know the detail.
You know it's the amount,gotcha, you know, and I really
don't want to ask you too muchdetail because I don't want to
make them feel uncomfortable.
But I'm like damn, I feel badfor you, but you have to pay it,
guys.
So you can't run away from thecity violations, city fees, city
on fines, irs, especially anytax, old property tax, anything
that's old Title won't be ableto close without all these
(28:22):
things being paid off, eitherbuyer or seller.
So when you're buying, guys,have in mind that if you owe
money to the city, just knowit's going to be charged, all
right, or you won't be able tosell or buy or sell.
Speaker 2 (28:34):
Yeah, be charged, all right.
Or you won't be able to sell orbuy or sell.
Yeah, usually the the.
The greater balances areusually from the sellers, like
issues with violations and stuffthat accumulate to like a
hundred thousand.
Those are usually the ones thathit like a hundred right,
usually a lot of violations onthe property hitting like very
big amounts.
Yeah, yeah, what was thebiggest that you've had on
violations on the singleproperty?
Speaker 1 (28:52):
I got one right now he owes.
He got like 20 violations ofthe city $190,000 he owes.
Speaker 2 (28:59):
A hundred and ninety A fee.
Speaker 1 (29:00):
And guess what?
He can't sell without payingthose fees.
Oof you know, but you know thething about me.
So one thing I'm happy youmentioned that.
One thing about us we run titleand we buy or sell before we
even go into contract, rightbefore we even go in contract
right.
So I got a great friend of minethat's entitled, so we usually
send it to her and she takescare of it.
She sends it out for us.
Before you go in contract,we've got to at least have an
idea what you're gettingyourself into, right?
And to just make sure this dealis going to go through, we send
(29:22):
it out.
We do that just so you can beaware of what's going on, right?
Speaker 2 (29:28):
We like always say one for any questions a seller
might have.
We're already ahead of it andtrying to.
If we don't have the answerright there, we're gonna have it
in in a few moments.
Speaker 1 (29:37):
Yeah, I mean experience, guys, believe it or
not, is real.
You need experience, guys.
I got close to a decade in thebusiness now.
I love what I do, so I'm like asponge.
I'm always trying to get moreinformation, learn as much,
because I want to give myclients the most knowledge, the
most best information, right?
So I'm like a sponge.
I'm always learning everywhere.
I'm always talking to otherbusiness partners that we have.
(29:57):
I'm always getting educated inthis business, but it's to
provide the best service to ourclient.
To keep you guys a step ahead,one thing about us we will tell
you exactly what you're gettingyourself into, very detailed
also.
What you're getting yourselfinto, for instance.
I'll give you an example rightnow.
We actually got a buyer that'swinning contract this week.
The listing agent did notdisclose this to us, but I
actually checked the ceo of thehouse to make sure what was
legal, what was not legal.
(30:18):
We actually realized, angelo,that most properties in the
bronx I'll be honest with mypercentage like 95, 90, 95
percent they most of their decksare illegal illegal.
Yeah, most of them and I'll tellyou something you always buy
the property.
You will have no problemgetting the finances.
But it's good for you to knowthat your deck is illegal,
because if the city finds thatthe deck is illegal, they could
(30:40):
come and put a violation on yourproperty.
Speaker 2 (30:41):
And you need to disclose that to the buyers.
Speaker 1 (30:43):
So what happens is that most listing agents in the
Bronx they don't disclose thisto our clients.
So when I see the deck, that'sthe first thing I check because,
bronx, I've done something.
So most of them, all of them isillegal.
But I disclosed it to thebuyers and the agent and let
them know.
The seller's selling it, as iseverything in the ceo is up to
date is just an illegal deck,but you can legalize it.
What they're selling as is, butas they're selling as is, guess
(31:04):
what else it reflects on theprice, right?
So I I found out that they hadan illegal deck.
I disclosed it.
It before the buyer signed.
I disclosed it to him.
Let them know, listen, you gotan illegal deck, you will know.
Just for you to know, this iswhat can happen.
Chances are kind of low but itcould happen.
Just know that it's an illegaldeck, but I disclosed every
(31:26):
detail Because I don't Agentsout there understand this.
Guys, it's going gonna come outsooner or later.
What if she gets a violation?
What happens to me?
Now?
You get what I'm saying, butnow alex told me.
Alex also told me he will helpme get this done if we ever got.
You know, but she's at leastunderstandable that she has a
lot like she.
She has an illegal debt, thethe bar.
(31:48):
The listing is not disclosed atall, so just want to let that
know out there that you know youneed to verify all these things
.
Make sure you know that yourCEO is everything that the CEO
says what's legal in the house,guys.
Speaker 2 (32:01):
Exactly, and if there's something illegal, you
just have to disclose it and youhave to make aware the other
party of what's going on, oryour own party if you're the
buyer.
Speaker 1 (32:09):
Yes, a hundred percent.
So, guys, we discloseeverything to them.
Speaker 2 (32:16):
I do want to share that right now the demand,
angela, is big.
What you've been seeing, ohyeah, uh, demand for homes has
been skyrocketing inventory islow, guys, and guess what
happens?
Speaker 1 (32:24):
interest rates nothing has changed with
interest rates as much, right,they are going down, but the
demand is big.
And what happens when thedemand is big, guys?
Yeah, prices go up.
Prices go up.
And guess what?
Bidding war starts.
So if you get an opportunity tobuy a house, buy it.
Don't sleep on it.
Be prepared.
But it's good to have a veryknowledgeable agent next to you,
right?
(32:44):
Not saying you have to chooseus I wish you do, but have in
mind it's good to get anexperienced agent.
Do your research, check theirzillow, check their reviews,
check stuff at Google, check alltheir stuff and see where,
because every agent particularlysells in one area specifically.
But you know, see their sales,see their history, see how long
they've been in the business.
This is very important, guys,for the buyer to definitely do
(33:06):
your homework as well, right?
Because you're hiring someoneto help you buy one of the
biggest asset of your life,right?
So make sure you do yourhomework, guys, make sure you
are out there searching yourright agent.
We also speak fluent SpanishEnglish.
Hablamos Español.
Estamos aquí para ustedes,right, angelo?
Por supuesto, estamos aquí paraustedes para ayudarle Si
(33:27):
necesitan ayuda en comprar ovender una casa En Español,
right, so we're fluent inspanish and english, right, and
our whole team is as well.
So we will assist if you'reinterested in buying or selling.
But it's very good for you guysthat, as the public to know,
that you should definitely doyour research on the agent you
hire I'm so.
Speaker 2 (33:45):
I see that little plaque there in the in the table
.
What is that?
Speaker 1 (33:49):
oh man, I gotta buy.
I got an icon for our team onexp.
I'm an icon, so it's reallygood to become an icon.
You got a good amount of salesyou basically cap, and now you
became an icon as a team.
So I have that there.
I did it for the team and we'redefinitely going for the repeat
.
Speaker 2 (34:08):
Yes, for sure.
We're definitely going for therepeat.
Nice, we're going to have abunch of them, right?
Speaker 1 (34:13):
oh yeah, I'm gonna do every year, every year, we're
gonna have one for sure.
Yeah, I'm very committed andhelping all those buyers and
sellers out there.
I'm very committed in helpingthe public, you know, achieve
one of the biggest goal, becauseI think I don't see myself as a
salesman, because I feel likeI'm helping people more than
anything.
Because you're purchasing ahouse, you know it's helping you
build what we're helping thembuild Basically equity in their
home.
(34:33):
We're helping them build, youknow, a nice portfolio for the
kids.
Like it's so much benefitsOwning a home is like everything
I'm telling you is just facts,right, it's also good for tax
purposes.
It's so good in so manydifferent ways that it's more
beneficial yourself buying ahouse than a car.
We're not selling you cars,we're selling you houses buying
a house than a car.
We're not selling you cars,we're selling you houses.
(34:53):
So it's more beneficial inbuying a house than going out
there and buying yourself a carof the year.
Speaker 2 (34:57):
Yeah, but if you have a car, buy a home with parking,
because New York is notoriousfor not having parking.
Speaker 1 (35:03):
Yes, new York is all about the parking right New York
City.
Speaker 2 (35:05):
I just got a ticket because I couldn't find parking.
Speaker 1 (35:09):
You know I'm happy you mentioned that.
So you got a ticket where at?
Speaker 2 (35:13):
I got a ticket at my blog.
It was just a little bitfurther down.
It's because I didn't put coinsin the meter thing.
Speaker 1 (35:20):
Oh my, I'll tell you something I've been noticing
they're giving tickets.
You know what it is to me.
I went to Manhattan about twoweeks ago.
They gave me two tickets.
Oh my God, they're like youknow.
But you know, if you do thewrong thing, you got to pay for
the resource, right?
I forgot I put the car in apump, so I got what I got right,
and then I had an inspection todo to the car, so they got me
(35:43):
two right there.
One shot.
I'm like damn, they killed me.
I almost got like $1 and then acouple of days later I got
another ticket of double parking, oh my God.
So that week I got threetickets.
Speaker 2 (35:56):
The worst thing that can happen is the ticket and the
boot.
Oh my God, the boot is theworst, it's something else.
Speaker 1 (36:05):
Yeah because you can't even leave.
So get a house, guys, with aparking.
Most houses have parking, butyou still come across something
that don't Right.
Speaker 2 (36:14):
So just make sure that you know you pick your,
whatever is more better for youand what features are good for
you yeah, I mean, if you'relooking in the bronze right and
the property doesn't haveparking, but you're in an area
like throgs, neck, like on on onthe deeper end and you're gonna
find parking in the street nomatter what, because it's mostly
like residential houses, it'snot really buildings.
Yeah, so a lot of theproperties will have parking in
(36:34):
them, but if you don't, andyou're probably going to see
parking all over the street-yeah, yeah, guys.
Speaker 1 (36:39):
So guys want to tell you guys, thank you so much for
watching our podcast.
Please, like, subscribe andplease, guys, reach out to us.
We're here, don't be shy.
You know we, we're easy tospeak to, we're easy going and
one thing more importantly,we're transparent.
Right, speak to, we'reeasygoing and one thing more
importantly, we're transparent.
Speaker 2 (36:54):
Right.
Speaker 1 (36:55):
We give you the honest answer, even if you like
it or don't like it.
I'm that guy.
I prefer you to know the honesttruth from my end and let you
know exactly the process ofbuying or selling and what are
the consequences in buying andselling.
All right, guys.
So we're here for you guys andI'm happy you guys joined this
podcast.
Angelo, my co-host, angelo'shere with us.
See you guys the next time.
(37:16):
Thank you guys.
Bye, thank you.
the real estate market update.
Hello everyone, welcome to suitup with bias podcast episode
number 10.
I'm alex bias and I'm here withmy co-host, angela bias, and
we're excited to talk about somethings that's going on in the
real estate market more thananything right in new york city,
connect, connecticut, jersey.
(00:24):
So we got some updates for thepublic guys, so we're excited to
share with you guys.
Talk to me, angelo, yeah.
Speaker 2 (00:30):
Give it to us.
One of the updates is that ourlender has informed us that
rates have gone down.
Ooh, that's good.
Speaker 1 (00:38):
Right At the right time too, so rates are coming
down guys.
Speaker 2 (00:47):
What were the rates before?
I believe they're down to 6.9,from what I heard, and they were
above seven.
Speaker 1 (00:50):
So pretty good little change, oh yeah because last
week, I think, was like 7.4, 7.5, so it's definitely been a
decrease.
At least we're gettingdecreased, right?
That's what matters, right,guys?
The rates are starting to godown.
So that's a good sign, guys,the rates are going down, right.
But guess what, guys?
Speaker 2 (01:05):
it's a hot market still it is still, it is people
been thinking like the marketwas gonna go down.
Speaker 1 (01:10):
Angelo right.
We've been hearing this forsince covet oh, it's gonna crash
, it's gonna crash and sincecolby been around almost three
years and nothing has happened.
What I have seen is the markethas been stronger and been
stable and I've been seeing theprices going up and I'm seeing a
lot of competitive buyers outthere.
Speaker 2 (01:28):
Oh yeah, without a doubt.
I mean, we've been getting somuch business as of lately, but
it's also because we're in thattime of the year as well.
What?
Speaker 1 (01:36):
time it is, guys, it's springtime summer.
Springtime summer, guys isactually one of the most busiest
time for all realtors umhelping all these buyers and
sellers.
Tell me why, angel?
Why do you think it's more?
Speaker 2 (01:49):
busy in this time.
I think it's because theweather has calmed down and you
don't want to be moving rightwhen it's too hot or too cold.
So right there in the spring isa nice little segue, because
yeah you start preparing for thesummer.
Like you try to get a home inthe springtime, you move into it
, hopefully by the end of thespringtime, and then you get to
enjoy your house in the summerand yeah yeah, I'm with you, but
(02:13):
yeah, I think, more importantly, those parents that are out
there.
Speaker 1 (02:15):
Like myself, when I moved from bronx to westchester
county, um, one thing that wasmade for me was my son's school,
so one thing most parents arebuying around springtime,
summertime, so when Septembercomes they already have a place
of school, wherever they'relocated at.
So it becomes very competitivefor buyers to buy in this time,
(02:35):
right now, because a lot ofparents, a lot of family, are
preparing to find their childnext school.
Also, the weather right.
You want to do barbecue?
You want to enjoy the backyardof your house?
We just had one yesterday.
We just had a beautifulbarbecue yesterday for the team
was a great, a great month forus, so got some steaks for the,
for the guys, and what kind ofsauce do you use on on that
(02:56):
steak, because it was really Ican't put that out there, man,
whenever you guys come to mybarbecue.
It's good steak, it's a goodsteak sauce that I created.
Speaker 2 (03:04):
Yeah, I ate pretty much the whole thing.
I only left the bones.
I even ate the little inbetween, really, yeah.
Speaker 1 (03:11):
That's the good thing .
Right, I did a barbecue for theteam.
I mean, this guy's been doing agreat job helping out these
clients and I think theydefinitely deserve the big, nice
steak for everyone.
Speaker 2 (03:19):
Yeah, it was good.
Right, it was really good.
Speaker 1 (03:22):
And the smell was really good right.
Speaker 2 (03:24):
Yeah, yeah, I'm telling you, I only left the
little bones in there.
I ate in between the thing.
Speaker 1 (03:30):
Yeah, yeah, it was really good, I got you guys
again, don't worry about it.
Speaker 2 (03:33):
Coming soon.
Speaker 1 (03:34):
But yeah, it's always good to buy your home right,
especially with a nice backyard.
In this Right you want to donice, don't go crazy.
Don't go crazy, guys, becausethen you don't want to come into
that neighborhood, especiallyif it's peaceful, quiet.
You don't want to bring thatnoise over here.
Wherever you decide to move,but as long as you speak to your
neighbors respectfully and askthem permission Not ask them
(03:55):
permission, but let them knowout of courtesy, like hey, I, to
build a nice relationship inyour neighborhood, especially if
you got neighbors, and when youyou want to have that
relationship because you don'twant to live at a place that
your relationship is not thebest with your, with your
neighbors, you should invitethem as well yeah, why not
invite your neighbors right now?
Speaker 2 (04:13):
just let them know, and let them know that, hey,
you're here if, uh, you want tocome, open invitation for them.
Speaker 1 (04:18):
So in my neighborhood .
I'm actually the only one thatI see that I have.
My kids are small.
Everyone in here is like mostlyelderly, retire, yeah, so
that's why it's extremely quietin this area where I'm at.
So you really don't see kids,right, when you come here, you
don't really see kids.
Speaker 2 (04:32):
I do see kids just because there's a school down
there, but it's not for theneighbors.
Speaker 1 (04:36):
My neighbors don't have kids.
Because that's the first thingI looked, because I was like you
know, I want to leave it tohave his little friends around
here.
So I was like let me lookaround and I noticed that all my
neighbors are just elderly.
They're not really.
They don't have no kids.
I guess they're done already.
Yeah Right, so me and Heidi arenot done.
I mean, we're not having nomore kids.
Speaker 2 (04:54):
Right, I mean the only kids that I see around here
are driven from the far west.
That's why it's a little bitcongested.
When you come here you kind ofsee all these buses going into
that school in here.
Speaker 1 (05:06):
So most buyers love buying this area Not this area,
but like buying this type ofweather spring, summer because
you want to enjoy the backyard,you want to invite your family
over, you want to have a greattime and you also want to make
sure you find a school for yourson or daughter on time, because
that's one thing.
When you moved out like, forinstance, I moved out around, I
bought the house and I moved out, I think in September Honestly,
(05:27):
my wife, we had so much goingon.
We had to find Levi's school inYonker and then we had to take
him out of school to the Bronxand he didn't want to leave and
that was a bad experiencebecause that transition for a
child was big from the Bronxbring him to Yonkers.
And I'm like yo, this is notgood for Levi.
So he was always crying, he wasupset, um, he missed his
friends.
So we had to figure it out, buteventually, you know he had no
(05:51):
choice yeah, I mean, change ishard.
Speaker 2 (05:53):
Yeah, the change is hard for kids.
Yeah, I mean, you're leavingsomething that you were so
adjusted to, had a lot ofprecious memories with, and now
you're going into somethingcompletely new that you don't
know whether it's going to begood, bad or whatever, but you
already knew there was a goodthing back there.
Speaker 1 (06:09):
I've been noticing that more buyers are starting to
accept and understand.
We've got no choice about therates and I like that a lot,
because the reality is like am Igoing to continue paying a
hundred percent of rent or I'mgoing to pay a six 7% of
interest?
Right, and remember, guys, allabout your credit score.
Your credit score is best.
You're good right right.
(06:30):
You got the best rate as themarket's offering.
Speaker 2 (06:32):
It's honestly, like we've talked about previously in
podcasts.
It's like um, you really justwant to pay attention to the
monthly payment that you'remaking and if it makes sense for
you and your family, then gofor it.
I mean, the only reason why youshould ever be buying a home is
not because you want a home,it's because you need a home.
Yeah, good point, right,because no one is out here just
(06:53):
wanting to spend what?
$500,000 for a home becausethey just want a home.
No, no, no, it's because theyneed a home, they're growing a
family, they need more space,maybe need a home.
They're growing a family, theyneed more space.
Maybe they need an office spacealong with the kids and all of
that on the side.
Speaker 1 (07:09):
So, yeah, I mean, home is actually good.
You know, I'm happy youmentioned the topic about office
.
So most members since covet alot of people working from home.
Yeah, so, guys, a lot of people.
What they do is that they grabthe basement and do they do an
office space completely.
I'm one of them.
Right, a lot of people do thatand you could be working from
home.
Right, some people got of them.
Right, a lot of people do thatand you could be working from
home.
Right, some people got used toit.
Since COVID happened, a lot ofpeople adapt to work from home
(07:29):
and people are used to workingfrom home.
So, buying a home you couldalways do, like one of the rooms
in the office for yourself orthe basement for an office.
So it's beneficial to own ahome.
Yeah, in that case, because forlike, especially Especially if
you work for yourself or if youwork from home or your job
allows you to work from home,you want that space and you need
the spaces.
Having a basement, having anempty room for your office space
(07:52):
, I mean that's a plus.
Speaker 2 (07:54):
Yeah, because you need to be able to separate your
living environment right upthere to another floor or just
another room.
That's just for you and yourbusiness.
No one can enter this placeLike this is just you, your work
and that's it yeah.
Speaker 1 (08:11):
I do want to reach out to people.
Let them know that, right Angel, feel comfortable, reach out to
us.
We're open to hear questions,calls, texts, emails.
We're that team that we lovegiving as much information out
there to the public on realestate.
Speaker 2 (08:27):
Especially if it's a really good question that we
don't know the answer to justyet.
It widens our horizons andwe're kind of like, oh, we don't
know, let's figure it out,let's see how we can answer.
We have all the sources, though, to get you guys to answer.
Speaker 1 (08:41):
We have one of the best referral bases so we'll
finance it.
We'll get you guys to answer wehave one of the best referral
bases so we'll finance it.
We'll get your best referral.
If you need contractors,plumbers, electricians, anything
that rolls around real estate,we have it for you guys.
We have all those contacts andmake it easier for you to be
stressed, because being arealtor, being in real estate,
you need a realtor.
I think that's something that'svery important for the public
(09:03):
to know you estate, you need arealtor.
Speaker 2 (09:04):
I think that's something that's very important
for the public to know.
You need a realtor.
You, you don't just need arealtor, you need a realtor that
has the connections in theindustry, because if it's some,
you could, you could hire arealtor and they know what to do
, right.
But if they don't have theright people, the right contacts
, then it's very hard for themto get stuff done, because then
they have to be reaching out andmaking calls to see, hey, does
(09:25):
this person know their stuff,can I trust them and whatnot.
And that's something that youprovide right.
You've talked to so manyprofessionals around the
industry and you've basicallyvetted out which ones are
probably the best for eachcategory.
So now when you have anyquestions, you know that you're
getting an answer from prettymuch the very best of those
people.
Title we have a wonderfulperson named maria, and so on
(09:49):
and so on, heidi being ummortgage broker, mortgage broker
, a lot of different people inour industry that you've
personally kind of met and knowlike they know their stuff, they
absolutely know their, and if Ineed any question whatsoever
related to those things, I cancount on them because they've
never failed me Never, yeah.
Speaker 1 (10:11):
I got a big topic I would like to talk about.
I think a lot of people don'ttalk about.
In the process of buying right,there's a lot of emotions.
Oh, there is A lot of emotionsand I want to get in detail with
the emotions for buyers whenyou're purchasing.
It could be scary because, I'lltell you something, when I
first bought my property, I wasscared, right, because you're
putting almost all your savingsinto this property and you hear
(10:32):
all these, um, sad news ofpeople going through foreclosure
, short sales.
Right, you want to prepareyourself not to go through that,
right, so you got to befinancially ready to buy a house
, because buying a house, youknow, I know there's people out
there they all wish they couldbuy a house, but they also have
that second doubt, which is thefinances, right, which is very
important, right.
So I want to talk about angelo,with you, about the buyer's
(10:53):
emotions and sense, like, howcan we help the public to
understand that it's a lot ofemotions when you're purchasing?
Right, and it's veryunderstandable because it's your
life saving most, most peoplewith their life saving.
It was my life saving when Ipurchased, exactly it was like
yo, I'm buying this house andI'm not staying with nothing in
my account, but I, you gottasometimes sacrifice, guys, and I
(11:13):
and I say it to everyone if youdon't sacrifice, you're not
gonna see the results.
You have to sometimes sacrifice.
Throw yourself out there andI'll tell you something.
A lot of buyers, they go andcall the neighbors, they call
the next door, they do this.
I'm gonna tell you something Alot of buyers, they go and call
the neighbors, they call thenext door, they do this.
I'm going to tell you something.
You guys can hear all thestories you guys want from every
neighbor, every realtor, everyfriend that you guys might know.
But one thing I'll make itclear to you until you don't
experience it, you don'tunderstand it.
Speaker 2 (11:35):
Yeah, I mean this goes back to like something that
came to me when I was firstjoining real estate.
It's like I had so many worriesabout like how am I gonna learn
this?
And it's just so muchinformation.
But once you're actually in it,it's fun.
You, you started experiencinglike the real things that you
should be worrying about and howto solve them.
(11:56):
Yeah, and you learn around.
Uh, you learn through theprocess a lot of the time.
You try to do so much studyingso much, like you know, homework
to kind of get yourself ready,and that's good, but the problem
is that you're not actuallythere.
Speaker 1 (12:13):
Uh, you actually I'm happy you mentioned that, so I
feel strongly about that.
Yeah, you guys could read, youcould watch youtube video, you
can educate yourself.
Those are good things to atleast get an idea abroad of what
you're getting yourself into.
But till you experience it,that's when you learn the real
deal oh yeah that's the only wayyou're gonna real, the real
deal.
Speaker 2 (12:30):
Yeah, because I've heard a lot of things that I
shouldn't have done right, likeprior.
But once you're in it, youstill make the mistakes and then
you learn from it.
You're like, okay, now it'sbecome real to me because I've
experienced it right, and it'slike you really don't.
Nothing can really prepare youfor anything until you're in it
(12:54):
and you're really like you're inthe process and have a home.
Speaker 1 (12:59):
Yeah, I'm with you 100.
So, guys, it's a lot of emotion, but let's get into the
emotions, angela, the emotionsTalk to me.
Give me at least one I'll startoff with.
When a buyer is purchasing,they get nervous and what they
do, and it's normal, guys.
I'm going to tell you guyssomething when you feel like
that, the best thing you guysshould do is reach out to your
(13:19):
broker, your realtor, and letthem know how you feel and let
them explain to you where we at,because it's very important
that when you're feeling likethat, speak to your realtor.
If you're feeling that, I thinkit's more of the communication
of the realtor, because if Iexplain to you everything that's
going on, angelo, you know youcan feel a little comfortable
and confident that my realtor isgoing to get this done for me
and he's going to, you know,provide the service the right
(13:40):
way and guide me the correct way, most importantly, right.
So I got I got clients that theyget extremely nervous and what
they do when they get nervous.
Right, they start talking totheir neighbors.
The neighbors start tellingthem more stuff, getting them
even more anxious, more nervous.
That's what I notice.
They start getting nervous, um,they start doubting it
tremendously.
They start thinking aboutbacking out and all these things
.
But because they're givingtheir license and I get it
(14:01):
because I was there I was goingcrazy when I first gave my
person and I about backing outand all these things.
But because they're givingtheir life savings and I get it
because I was there I was goingcrazy when I first gave my
purchase and I was just worriedabout those payment monthly.
I was just worried about it.
But you start seeing, like man,this is worth it when you do it
right, because I'll tell youguys something.
When you start feeling like that, also speak to your mortgage
broker.
Talk about your numbers, yourpayments, your like that also
(14:23):
speak to your mortgage broker.
Talk about your numbers, yourpayments, your, your closing
calls.
It's very important for youguys to know your closing cost,
your monthly payments, all thisstuff before you sign the
contract, guys and our team,we'll prepare you and we'll let
you know what's your monthlypayment.
We'll let you know your closingcosts and we'll go over every
number with you so you can knowexactly what are you going to be
paying at closing angel.
So all that before you getsigned the contract.
You know what you're gettingyourself into.
We disclose every bit that wecan when you're purchasing.
(14:47):
So what do you think about thatAngel, about these emotions of
the buyers and how to avoid them?
Speaker 2 (14:53):
Yeah, I think that, just adding on to what you said,
nervousness is definitely oneof the biggest emotions that we
encounter, especially onfirst-time homebuyers First-time
homebuyers that don't knowanything about the process
whatsoever.
That's where you really have tobe a teacher and just be
explaining everything, um, andthey're always.
(15:15):
I don't think I've seen afirst-time home buyer who wasn't
anxious, you know, because it'slike, like you said, I'm
spending all this money, right,I want to make sure this is
perfect, like I want to makesure that I'm not making no
mistakes or anything like that,right On point and all of this.
So that's why it's our job asrealtors to assure them that
(15:37):
we're here, this is what we needto do for the next step, and so
on, so on, so on.
Always clarify what is beingdone and what needs to be done,
and that gives people moreassurance and stuff.
Because if your agent is notguiding you the proper way, then
that's when you would feelnervous.
When they're not communicatingwith you, when they're not
(15:58):
telling you what's going on.
That's when I've seen thingshappening like that.
For instance, I had a selleronce tell me that their agent
was essentially a littleuncommunicative with them, and
the only reason they told methis was because I went to a
final walkthrough, basically seethe property and the seller was
(16:18):
essentially there and they werelike you know, I really wish
that my agent was a little bitmore communicative, because I
didn't know this was happeninguntil the last second and this
made me have to fly over fromanother state over here.
Oh my god, last minute and itjust caused a lot of like
anxiety and that's huge, guys,is make sure you're in
(16:39):
communication when you wroteabout about every little thing.
Speaker 1 (16:41):
When you're in the process of purchasing, guys,
make sure you're incommunication with your realtor
and your mortgage broker or yourbanker.
Yeah, right, in every step thatyou do and then you got doubts.
Make sure that all this is donethe right way.
All right, I want to talk aboutnot to do when you're
purchasing.
I think that's huge, becausemost of these buyers are nervous
and anxious.
They do things they're notsupposed to do.
(17:02):
One thing I think you'resupposed to do is be in
communication at full time withyour realtor, your mortgage
broker, your attorney and, ofcourse, your banker.
If you work on a bank ormortgage broker, I recommend
always brokers, guys.
It's faster to process, lessstress and less closing costs.
Speaker 2 (17:21):
Angela, what do you think a buyer should not do?
Things that a buyer should notdo.
I think your lender wouldprobably be saying these things
but do not open up new lines ofcredit.
Do credit, do not?
You mean lines of credit?
Uh, you mean like credit cards,credit cards, correct cars,
cars, like anything that youfinance.
Well, all money on exactly,financing.
Don't do that.
(17:41):
Also, don't put so large of asum of money in your bank
account in one single day.
Spread it throughout.
I'm not sure how much is thelimit that you can put per day,
but if you reach a certainthreshold per day, then the bank
has to kind of settle the fundsand that could take a while.
Speaker 1 (17:59):
One thing that's huge the account that you're using
to purchase.
Right, make sure you're notdoing no transfer, large
transfers of money or depositinglarge transfer without having
the evidence where you got thedoing no transfer, large
transfers of money or depositinglarge transfer without having
the evidence where you got themoney for proof, right, don't
withdraw so much money as well,right, when you're in the
process of buying, you got to bevery limited with your accounts
, very limited on what you dowith your credit, right, you're
(18:21):
not supposed to do anything withyour credit until the purchase
is not done, right, because youdon't want no hiccups in it,
right?
So one thing I would say don'tdo that Also, guys.
More importantly, angelo, let'stalk about what happened to one
of your clients, but I'll share.
Speaker 2 (18:34):
Definitely, do not leave your job while you're in
the process.
Speaker 1 (18:36):
Angelo share that story that we actually went
through recently that buyer,that she, actually they were in
the process of purchasing aproperty right and in the middle
of it, just he just changedjobs yeah, I believe there was
also another thing on top ofthat.
Speaker 2 (18:54):
the family um had essentially been very ecstatic
for purchasing a home and theywere all good to go.
We had an accepted offer, wewere going through the process,
they were going along doingeverything that we told them to,
and then we did specify to themthe do nots, because that's
very important.
We always try to tell them,like do not do this, do not do
(19:16):
that, but it's up to them ifthey want to listen or not.
At the end of the day, we can'tforce them to do anything.
We could just give them adviceand try to guide them as best as
we can.
What ended up happening is thatthroughout the process, they
said that they wanted to put abigger down payment in there, so
they were contemplating puttinga bigger amount, but it was all
(19:38):
cash into their account thisclient actually had the, the
business that we're running.
Speaker 1 (19:42):
It's mostly cash flow that comes in the business
right, yeah they were running abusiness with mostly cash.
We had, like a smoothie businesswhere it's mostly cash flow
that comes in and business right.
Yeah, they were running abusiness where it's mostly cash
flow, like a smoothie business,where it's mostly cash flow that
comes in, and I'm not sure howher taxes were, but it seems
like her tax return wasn'tbasically showing all that cash
flow that she had going on inher business.
And that's all red flags to thebank, right, because they got
to verify this money is beingIRS Correct and that's an issue,
(20:05):
a big issue.
Guys also don't get fired whilein the process.
Yeah, they change jobs in theprocess.
Oh, they also change jobs in theprocess.
Speaker 2 (20:13):
Yes, I believe they changed.
Speaker 1 (20:14):
Well they had so much going on, guess what happened?
They got a denial letter.
But have in mind, guys, allthis that we're saying to them
we have a buyer consultationbefore we come in and show you
property, before we teach youeverything, we give you, guys,
every details of what not to do,what to do and basically the
whole process of purchasing.
We explained to her not once,not twice, not three, like three
(20:35):
, four times, because me and you, andrew was working with her we
explained both, her wasexplaining her, uh, the whole
process and she still did whatshe, she thought she could have
got away with it.
Speaker 2 (20:43):
And even then, right, even though they put the large
sum of money in there, we werestill trying to work with them,
talk to the bank, see if we cankind of get this a little bit
situated.
But the nail on the coffin waswhen job transfer, job transfer.
We were like there's so much wecould do.
Right, we're still helping,right, we're still trying to
figure it out.
We said, don't do this.
You did that.
Okay, it's no problem, we'lltry and see what we can do.
(21:05):
We're working it.
And then you hit us withanother nail in the coffin.
Speaker 1 (21:09):
It's like ah we are definitely guys problem solvers.
That's what we are.
We're very creative and problemsolver, but it's to a limit.
Yeah, Like you said, angela.
Speaker 2 (21:17):
Yeah.
Speaker 1 (21:18):
We can only do so much.
We can only do so much.
One of the big things that Idid see, I experienced one.
Guys do not get fired while inthe process of purchasing.
I'll tell you why.
The bank is called Verificationof Employment.
They're going to reach out toyour employee to make sure that
you're working.
(21:38):
And guess what?
Even at the closing they'regoing to call in.
So guess what happened?
We were in contract for, Ithink, two months.
We had our schedule, everyonewas set, we had the clear to
close.
We were excited, we all at thetable at the closing.
Things happen, guys.
Don't think that you're at theclosing, things don't happen.
Things happen at the closingright.
My only time that I experiencedthat at a close did you say when
(22:00):
we take you to the closet, youguys are very well prepared and
well informed what you need todo, what not to do.
This client this client was notmy buyer, by the way.
It was on the other side of thebuyer agent.
I was the listing agent.
So we go to the closing angeland we excited.
They're about to start cuttingchecks out.
Everybody's excited.
I'm there with my gift from myseller.
I'm super excited, dude.
(22:21):
So, as we are there, the bankattorney gets up and says like
that, like cut this off, and Iwas like wait what?
He was like that's it, it'sbeen adjourned, disclosing I was
like wait what?
And I was like wait what?
I thought it was a joke, right.
I think it was in April too, soI thought it was probably April
Fool's, I don't know.
I looked at the guy like whatand client.
(22:54):
Because it's kind ofembarrassing, they went outside
and spoke to attorneys and theattorney came and told this
close to the seller, that thebuyer actually got fired 24
hours prior to that closing.
Wow, so they call.
They call to verify theemployment.
They call the employer,employment and they found out
that the client actually thebuyer actually got fired 24 hour
.
And guess what?
The bank, right there, deaddeal.
She got fired.
She thought she was going toget away with it, but I mean,
anyone would think that right,because it's a day before
(23:14):
closing.
So we already scheduledeverything.
Everything's set.
The bank had already passed thefunds to the bank attorney.
Now it's not how it works, guys.
The bank is verifying man, justthink about it.
They're going to come and giveyou five hundred, seven hundred
dollars.
New york, you know the pricesare nice.
They're going to give you thisamount of money.
Do you think they're going tohave to verify this?
If you're lending someone somuch money, angel, what will you
(23:34):
do?
Speaker 2 (23:35):
Exactly.
You got to make sure thateverything is perfect Nothing,
for example, a recent closingthat we went to.
One of the things that youshould always bring to closing
right is, well, of course, thecertified check that your
attorney tells you to write, andalso your photo ID a government
photo ID, right, and also yourphoto id a government photo id.
What ended up happening is thatthis client they didn't tell
(23:57):
her to bring a government photoid, but they told her to bring
the certified checks and whatended up happening is that in
the loan it states her middlename, and when they were going
through all the documents, theywere like, okay, we see this
name and this name, but we don'tsee that middle name.
And they were like do you haveany certification, right, like
(24:20):
any identification that?
Speaker 1 (24:22):
shows her full name the way it is on the right on
the loan and all of that.
Speaker 2 (24:25):
They basically said, no, I don't.
And so we were there 30 minutestrying to discuss how we would
be doing this.
Oh my God, yeah, and it wasjust such a headache.
Speaker 1 (24:37):
You know, right now people don't even understand
that With your name, it needs tomake sure that every document
is correct, like your ID.
One thing, guys I did notice ata closing, angelo, that now
you're talking about IDs, guys,you need to verify that your ID,
the date is not expired.
Guys, if it's expired, youcannot close.
Just know that because itexpired means it's no good,
right, even though your name andeverything is good.
(24:59):
But if your ID is expired,angelo, you can't close.
I didn't know that, yeah, soyou need to always verify that
it's not expired, your ID,gotcha.
And when I tell my clients Ialways say bring your ID, make
sure it's not expired, or bringa password.
It's not expired, right, justmake sure it's nice, like if
it's expired, you're not closing, like you need to make sure.
And also, your name needs tomatch with your docs.
(25:19):
So when you're working withyour lender, when you're working
with your attorney, every,every letter matters in your
name, right, because just oneletter, it's a big difference,
guys, exactly, you might see asmall, but it's not especially
middle names.
Guys, at your middle name youhave a middle name.
Add your middle name.
That's what happens.
She was missing.
Her middle name correct,correct.
Speaker 2 (25:37):
Middle name and you need identification that shows
your full name, you know.
Yeah, whatever it's on the deedor on the loan, whatever, you
have to make sure that you bringsome form of identification to
make sure, because, remember,this is a really big transaction
.
Every need, everything needs tobe perfect, needs to match.
Yeah, it's not that scary yourprocess, just make sure that
(25:58):
everything you know why, though?
Speaker 1 (25:59):
because then, when you're in the process of you
know, you know, especially withthis, that for all with where
identity, you have to be likethat, so title company has, has
no choice bank, have no choiceto make sure every, even your,
your date of birth, everythingneeds to be exact the same,
because it's not a deaf identityin this world, unfortunately.
Speaker 2 (26:19):
I believe one of our previous guests either it was
Maria or Franklin yeah, that shementioned that he had the same
name as his father.
Speaker 1 (26:26):
His father was alive and the son was trying to sell
the house.
But you know the only reason,title company caught on in it
because of the age.
It was like literally the yearhe was born, the year the house
was bought.
So that's the only reason theygot called.
He almost sold the housebecause he had the same name as
his father.
So, yeah, he almost got away.
I don't know.
I've seen some stuff Like, forinstance, my first closing was
(26:49):
like five hours and I didn'tknow what was going on.
I was having a hard time.
I didn't know what was going on.
I was like what's going on here?
I was like, damn, real estateis hard, but damn, I didn't know
it was this bad.
The only reason it took fivehours, angel, was because the
person that was selling thehouse, his grandson, had the
same exact name as him and guesswhat?
He owed to the IRS.
So they, you had to get anaffidavit.
(27:10):
He was in Florida, by the way.
You got to get an affidavitsigned, sent, mailed and
everything Stamp and notarizethat he was actually the
grandfather.
He wasn't the grandson.
Speaker 2 (27:18):
Because one owed money to the IRS, the other
didn't.
Speaker 1 (27:21):
Oh guys, you owe money to the IRS.
Buy or sell it, you're notclosing.
Oh yeah, I'm telling you thatright now, irs anything with the
city so guys know this Anythingwith the city, for instance,
tickets violations, all thatstuff, guys IRS especially.
You won't be able to sell yourhouse especially, or buy.
They need to collect theirfunds or they won't be able to
(27:42):
give you guys a loan.
Speaker 2 (27:43):
Oh, we had a file like that.
Had a lot of files.
Speaker 1 (27:45):
People owe money.
Speaker 2 (27:46):
Tickets Parking tickets.
Speaker 1 (27:49):
I don't remember how many tickets he owed, I think
like six, yeah, I had one thatowed like six.
I had one client owe $150,000to IRS.
Speaker 2 (27:56):
He thought he was going to get away with it, but
he got caught.
What was most of it for?
Speaker 1 (28:01):
Reality.
We don't know the detail.
You know it's the amount,gotcha, you know, and I really
don't want to ask you too muchdetail because I don't want to
make them feel uncomfortable.
But I'm like damn, I feel badfor you, but you have to pay it,
guys.
So you can't run away from thecity violations, city fees, city
on fines, irs, especially anytax, old property tax, anything
that's old Title won't be ableto close without all these
(28:22):
things being paid off, eitherbuyer or seller.
So when you're buying, guys,have in mind that if you owe
money to the city, just knowit's going to be charged, all
right, or you won't be able tosell or buy or sell.
Speaker 2 (28:34):
Yeah, be charged, all right.
Or you won't be able to sell orbuy or sell.
Yeah, usually the the.
The greater balances areusually from the sellers, like
issues with violations and stuffthat accumulate to like a
hundred thousand.
Those are usually the ones thathit like a hundred right,
usually a lot of violations onthe property hitting like very
big amounts.
Yeah, yeah, what was thebiggest that you've had on
violations on the singleproperty?
Speaker 1 (28:52):
I got one right now he owes.
He got like 20 violations ofthe city $190,000 he owes.
Speaker 2 (28:59):
A hundred and ninety A fee.
Speaker 1 (29:00):
And guess what?
He can't sell without payingthose fees.
Oof you know, but you know thething about me.
So one thing I'm happy youmentioned that.
One thing about us we run titleand we buy or sell before we
even go into contract, rightbefore we even go in contract
right.
So I got a great friend of minethat's entitled, so we usually
send it to her and she takescare of it.
She sends it out for us.
Before you go in contract,we've got to at least have an
idea what you're gettingyourself into, right?
And to just make sure this dealis going to go through, we send
(29:22):
it out.
We do that just so you can beaware of what's going on, right?
Speaker 2 (29:28):
We like always say one for any questions a seller
might have.
We're already ahead of it andtrying to.
If we don't have the answerright there, we're gonna have it
in in a few moments.
Speaker 1 (29:37):
Yeah, I mean experience, guys, believe it or
not, is real.
You need experience, guys.
I got close to a decade in thebusiness now.
I love what I do, so I'm like asponge.
I'm always trying to get moreinformation, learn as much,
because I want to give myclients the most knowledge, the
most best information, right?
So I'm like a sponge.
I'm always learning everywhere.
I'm always talking to otherbusiness partners that we have.
(29:57):
I'm always getting educated inthis business, but it's to
provide the best service to ourclient.
To keep you guys a step ahead,one thing about us we will tell
you exactly what you're gettingyourself into, very detailed
also.
What you're getting yourselfinto, for instance.
I'll give you an example rightnow.
We actually got a buyer that'swinning contract this week.
The listing agent did notdisclose this to us, but I
actually checked the ceo of thehouse to make sure what was
legal, what was not legal.
(30:18):
We actually realized, angelo,that most properties in the
bronx I'll be honest with mypercentage like 95, 90, 95
percent they most of their decksare illegal illegal.
Yeah, most of them and I'll tellyou something you always buy
the property.
You will have no problemgetting the finances.
But it's good for you to knowthat your deck is illegal,
because if the city finds thatthe deck is illegal, they could
(30:40):
come and put a violation on yourproperty.
Speaker 2 (30:41):
And you need to disclose that to the buyers.
Speaker 1 (30:43):
So what happens is that most listing agents in the
Bronx they don't disclose thisto our clients.
So when I see the deck, that'sthe first thing I check because,
bronx, I've done something.
So most of them, all of them isillegal.
But I disclosed it to thebuyers and the agent and let
them know.
The seller's selling it, as iseverything in the ceo is up to
date is just an illegal deck,but you can legalize it.
What they're selling as is, butas they're selling as is, guess
(31:04):
what else it reflects on theprice, right?
So I I found out that they hadan illegal deck.
I disclosed it.
It before the buyer signed.
I disclosed it to him.
Let them know, listen, you gotan illegal deck, you will know.
Just for you to know, this iswhat can happen.
Chances are kind of low but itcould happen.
Just know that it's an illegaldeck, but I disclosed every
(31:26):
detail Because I don't Agentsout there understand this.
Guys, it's going gonna come outsooner or later.
What if she gets a violation?
What happens to me?
Now?
You get what I'm saying, butnow alex told me.
Alex also told me he will helpme get this done if we ever got.
You know, but she's at leastunderstandable that she has a
lot like she.
She has an illegal debt, thethe bar.
(31:48):
The listing is not disclosed atall, so just want to let that
know out there that you know youneed to verify all these things
.
Make sure you know that yourCEO is everything that the CEO
says what's legal in the house,guys.
Speaker 2 (32:01):
Exactly, and if there's something illegal, you
just have to disclose it and youhave to make aware the other
party of what's going on, oryour own party if you're the
buyer.
Speaker 1 (32:09):
Yes, a hundred percent.
So, guys, we discloseeverything to them.
Speaker 2 (32:16):
I do want to share that right now the demand,
angela, is big.
What you've been seeing, ohyeah, uh, demand for homes has
been skyrocketing inventory islow, guys, and guess what
happens?
Speaker 1 (32:24):
interest rates nothing has changed with
interest rates as much, right,they are going down, but the
demand is big.
And what happens when thedemand is big, guys?
Yeah, prices go up.
Prices go up.
And guess what?
Bidding war starts.
So if you get an opportunity tobuy a house, buy it.
Don't sleep on it.
Be prepared.
But it's good to have a veryknowledgeable agent next to you,
right?
(32:44):
Not saying you have to chooseus I wish you do, but have in
mind it's good to get anexperienced agent.
Do your research, check theirzillow, check their reviews,
check stuff at Google, check alltheir stuff and see where,
because every agent particularlysells in one area specifically.
But you know, see their sales,see their history, see how long
they've been in the business.
This is very important, guys,for the buyer to definitely do
(33:06):
your homework as well, right?
Because you're hiring someoneto help you buy one of the
biggest asset of your life,right?
So make sure you do yourhomework, guys, make sure you
are out there searching yourright agent.
We also speak fluent SpanishEnglish.
Hablamos Español.
Estamos aquí para ustedes,right, angelo?
Por supuesto, estamos aquí paraustedes para ayudarle Si
(33:27):
necesitan ayuda en comprar ovender una casa En Español,
right, so we're fluent inspanish and english, right, and
our whole team is as well.
So we will assist if you'reinterested in buying or selling.
But it's very good for you guysthat, as the public to know,
that you should definitely doyour research on the agent you
hire I'm so.
Speaker 2 (33:45):
I see that little plaque there in the in the table
.
What is that?
Speaker 1 (33:49):
oh man, I gotta buy.
I got an icon for our team onexp.
I'm an icon, so it's reallygood to become an icon.
You got a good amount of salesyou basically cap, and now you
became an icon as a team.
So I have that there.
I did it for the team and we'redefinitely going for the repeat
.
Speaker 2 (34:08):
Yes, for sure.
We're definitely going for therepeat.
Nice, we're going to have abunch of them, right?
Speaker 1 (34:13):
oh yeah, I'm gonna do every year, every year, we're
gonna have one for sure.
Yeah, I'm very committed andhelping all those buyers and
sellers out there.
I'm very committed in helpingthe public, you know, achieve
one of the biggest goal, becauseI think I don't see myself as a
salesman, because I feel likeI'm helping people more than
anything.
Because you're purchasing ahouse, you know it's helping you
build what we're helping thembuild Basically equity in their
home.
(34:33):
We're helping them build, youknow, a nice portfolio for the
kids.
Like it's so much benefitsOwning a home is like everything
I'm telling you is just facts,right, it's also good for tax
purposes.
It's so good in so manydifferent ways that it's more
beneficial yourself buying ahouse than a car.
We're not selling you cars,we're selling you houses buying
a house than a car.
We're not selling you cars,we're selling you houses.
(34:53):
So it's more beneficial inbuying a house than going out
there and buying yourself a carof the year.
Speaker 2 (34:57):
Yeah, but if you have a car, buy a home with parking,
because New York is notoriousfor not having parking.
Speaker 1 (35:03):
Yes, new York is all about the parking right New York
City.
Speaker 2 (35:05):
I just got a ticket because I couldn't find parking.
Speaker 1 (35:09):
You know I'm happy you mentioned that.
So you got a ticket where at?
Speaker 2 (35:13):
I got a ticket at my blog.
It was just a little bitfurther down.
It's because I didn't put coinsin the meter thing.
Speaker 1 (35:20):
Oh my, I'll tell you something I've been noticing
they're giving tickets.
You know what it is to me.
I went to Manhattan about twoweeks ago.
They gave me two tickets.
Oh my God, they're like youknow.
But you know, if you do thewrong thing, you got to pay for
the resource, right?
I forgot I put the car in apump, so I got what I got right,
and then I had an inspection todo to the car, so they got me
(35:43):
two right there.
One shot.
I'm like damn, they killed me.
I almost got like $1 and then acouple of days later I got
another ticket of double parking, oh my God.
So that week I got threetickets.
Speaker 2 (35:56):
The worst thing that can happen is the ticket and the
boot.
Oh my God, the boot is theworst, it's something else.
Speaker 1 (36:05):
Yeah because you can't even leave.
So get a house, guys, with aparking.
Most houses have parking, butyou still come across something
that don't Right.
Speaker 2 (36:14):
So just make sure that you know you pick your,
whatever is more better for youand what features are good for
you yeah, I mean, if you'relooking in the bronze right and
the property doesn't haveparking, but you're in an area
like throgs, neck, like on on onthe deeper end and you're gonna
find parking in the street nomatter what, because it's mostly
like residential houses, it'snot really buildings.
Yeah, so a lot of theproperties will have parking in
(36:34):
them, but if you don't, andyou're probably going to see
parking all over the street-yeah, yeah, guys.
Speaker 1 (36:39):
So guys want to tell you guys, thank you so much for
watching our podcast.
Please, like, subscribe andplease, guys, reach out to us.
We're here, don't be shy.
You know we, we're easy tospeak to, we're easy going and
one thing more importantly,we're transparent.
Right, speak to, we'reeasygoing and one thing more
importantly, we're transparent.
Speaker 2 (36:54):
Right.
Speaker 1 (36:55):
We give you the honest answer, even if you like
it or don't like it.
I'm that guy.
I prefer you to know the honesttruth from my end and let you
know exactly the process ofbuying or selling and what are
the consequences in buying andselling.
All right, guys.
So we're here for you guys andI'm happy you guys joined this
podcast.
Angelo, my co-host, angelo'shere with us.
See you guys the next time.
(37:16):
Thank you guys.
Bye, thank you.
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