Mythbusting with Rock Realty

Episode Transcript

Speaker 1 (00:00):
A thirty four thirteen ten Wi b A and ask
the experts. Brought you by Rock Realty Online, Rockwisconsin dot com.
That's r O c K Wisconsin dot com. There's alf
A number six oh eight six seven three fifty four hundred.
That's six oh eight six seven three fifty four hundred.
Joined in studio this morning by mister Matt Hetman with
Rock Realty. Matt, how you been man?

Speaker 2 (00:21):
Been good?

Speaker 1 (00:21):
How about you, Sean? I'm doing fantastic. Great to see you.
I've got out to do any golfing recently, you know,
off and on here.

Speaker 2 (00:28):
Often as as most people would like, but more than.

Speaker 1 (00:33):
Does does the does that Hayes in the air effect anything?
As far as I think of, I'm not a golfer,
to quote the line of the Big Lebowski, obviously you're
not a golfer when you're using you got those little
scopes for distance and things. Does that uh, does that
Hayes here that affected?

Speaker 2 (00:49):
I mean it was a little hard to see the
white ball though in the in the air.

Speaker 1 (00:52):
Gets up there sound through. Have you seen the new
Happy Gilmour movie? I did it.

Speaker 2 (00:57):
I liked the cameos. I felt like the movie itself,
was like, yeah, well a little subpar, but you know,
it's what you kind of come to expect.

Speaker 1 (01:03):
Some nice fun there. By the way, John Daily, do
you like his his his cameos?

Speaker 2 (01:10):
That was good.

Speaker 1 (01:10):
Yeah, that was probably one of the better parts. I thought.
That's great. We've got a lot of fun stuff to
talk about this week. We're going to be following our
trend of dispelling myths, and we're going to talk specifically
when it comes to real estate. There's a lot of
information out there, and to be quite frank, a lot
of really bad information that unfortunately has prevented a lot
of folks from from taking action. And whether whether move

(01:32):
up buyer or somebody looking to be a first time
home buyer, and other things you need to realize when
it comes to listing a home and some of those
myths out there. But before we get to this week's
conversation on myths, let's talk about this week's featured listing.
A beautiful, beautiful house right on Weston Drive at six
sixty four to thirteen Weston Drive, right here in Madison.

(01:55):
I was looking at this house yesterday and then I
had to go back and look this morning because it
is a really really great home and a really nice neighborhood,
a great area, and it's really got you think about
like houses that check all the boxes. This one really
does just that. Matt, Yeah, I agree.

Speaker 2 (02:10):
I mean, if you're kind of looking for that ideal layout,
and you know, if you were to make a cookie
cutter of a house that everybody's kind of attracted to,
it's your three bedroom, your two bath, your two car
garage house, right, and you know, a finished lower level, right,
And that's exactly what this is. You know, it's listed
for four hundred and nineteen nine hundred, which is you know,

(02:33):
pretty reasonable these days to be in Madison, the kind
of the near west side of Madison, southwest side. And yeah,
it's a great it's a great, great property. I like
the vaulted ceilings in the kitchen, yes, the fact that
they kind of did that popular two toned cabinet style, yeah,
where you have the lower cabinets painted different than the uppers.

Speaker 1 (02:53):
So there's a lot to like about it. It's really nice.
You mentioned that that finished lower level as well, and
you know, I was, as meta fact, complete honesty. Right now,
I'm scoring with the pictures now, just looking at what
a beautiful house. It is. And one of the things
that that I love about that finished lower level is
there seems to be a bunch of on on the
main level, a lot of different areas for sitting and

(03:14):
kind of gathering. But then you've got this this really
really well done lower area, and I think, what a
perfect place, you know, mom and dad or just dad
to sit down, watch some watch some football and just
kind of escape that that that type of thing so
really cool. Also a really cool uh and again this
is this is up to the future owner of this house.
This could be you. The current owners have a really nice,

(03:36):
nice little office space down there. Looks like maybe a
bit of a gamer.

Speaker 2 (03:40):
Yeah right, yeah, no, I I liked that, you know,
having a little privacy in the basement with the office space.
And then also you've got the bathroom downstairs, so you
don't have to head back upstairs, you know.

Speaker 1 (03:51):
Maybe rining it off before studio there.

Speaker 2 (03:54):
If you have a teenager, you just sa you'll never
see upstairs again.

Speaker 1 (03:57):
How great is that? So when they're jumping around too,
you don't have to don't have to have some real
quick too, match I was I want to ask also,
as we're kind of going through this house in particular,
and of course this week's featured listing. The agent on
it is Jason Allen is teleph number six, So eight
five one six seventy one fifty. That's five one six
seventy one fifty for Jason Allen. You definitely want to

(04:18):
check out this three bedroom, two bath home right here
at Madison. Some of that space I had said earlier,
they're using it as an office. You could use it
for something else. That's a great feature for homes. I
think that with the term like flex space or or
something like that, where it's makes a great office, makes
a great additional bedroom, it makes a great craft room,
or it makes if you know, I know a lot

(04:38):
of folks are very good at this multipurpose room as well,
whether it's you know, guest bedroom when they're there, otherwise
it's a home office. That type of that type of
space is really desirable, isn't it. Yeah, it's always good
to have the option.

Speaker 2 (04:49):
You know. There's even some people out here out there
that use it for workout areas in rooms.

Speaker 1 (04:53):
Yeah, that's what I hear, or hanging their clothes on.
It's really good. Squarecount areas turn out to be talking
this morning with that high. But of course Matt comes
to us from Rockrealty Online Rock Wisconsin dot com. That's
Rock r Ock Wisconsin dot com again to see this
house and Weston on Weston Drive here in Madison. I
give Jason a call this morning. His telephone number six
so eight five one six seventy one fifty. It's five

(05:15):
to one, six seventy one fifty. So we're talking myths
this week. And I still remember when I was in
like middle school or high school, at a friend of
mine who was very like, very eager, was ready to
kind of start life, and he always had this dream
of owning apartments. And he always used to tell me, like,
you need to have twenty percent down, got to save
up that twenty percent, which, by the way, if you're

(05:35):
thirteen thinking about saving twenty percent on a on a
on a home purchase, you are way ahead of the
ahead of the crew. And I hate to break it
to you, but that's not entirely true, is it? That
twenty percent? Yeah, No, it's.

Speaker 2 (05:48):
Obviously it's ideal. Right, if you can do that, fantastic. Yeah,
My nineteen year olds just can't stop thinking about getting
your first house. Oh, you're nineteen, it's you know, that's fine,
you know, but yeah, but no twenty percent. You know,
it's it gives you options, but there are other options. Right,
You've got fha is out there, and that's probably the

(06:09):
loan that most people have heard of, a government kind
of back to loan that allows you to put three
and a half percent down. Right, you can get some
conventional financing for as little as three percent down. You'll
need to have a good credit score and not have
too many car loans out there, So keep that in mind, guys.
Keep those those monthly payments low and you'll be able
to maybe get a lower down payment. And some of

(06:33):
the you know, less popular known loans are going to
be a USD A loan and that's a rural loan
that was set up. It used to cover quite a
bit more of Wisconsin, but there are still some outlying
areas around Dane County that you can use this and
that's zero percent down.

Speaker 1 (06:50):
Wow, yeah, I think we may have used that initially,
used that on our home. Zero percent down. I think
it was like the interest you'd think, well, you're not
putting You're you're gonna make up for it on entry
and that was if again, I don't remember the exact
whatever we used. It was crazy because I think we did.
We obviously put some down anyway, but like the rates
were pretty advantaged by the way. When we talk about
this and you don't necessarily need that twenty percent down

(07:13):
and we talk about these different programs and opportunities out there,
is that something too, I know we've talked with folks
that are on the mortgage side of things, and of
course we've had other agents as well from Rock Realty.
And is that something you really want to work with
your agent closely and your lender about. Is what is
available When you mentioned like USDA there are restrictions to
specific lots, that's something you definitely want to be talking

(07:34):
with your agent about it.

Speaker 2 (07:34):
Yeah, absolutely, And you know agent can actually look up
addresses on the map that's on the USDA site or
you can and you can find out if it qualifies.

Speaker 1 (07:43):
And you know, for people that can qualify for a VA.

Speaker 2 (07:46):
Loan, that's awesome. That's an awesome loan. You know, that's
also a zero down option. And it's not just you know,
the service members, sometimes the family can qualify too. So
and then homegrown loan, right here in Wisconsin is the
WEED program. It stands for Wisconsin Housing and Economic Economic
Development Authority, and that one you can have some assistance

(08:08):
as well. They'll even help help you with your down
payment to get you in a house. And that's that's
a neat programmer as well. I think it's it's important
to know that you know, you don't have to be
a first time home buyer to qualify for most of these.
A lot of people think that if it's a low
down payment, it's because you're a first time home buyer,
and that's not the case.

Speaker 1 (08:25):
Oh, that is great to hear. As we talked this
morning with Matt Heyman at Rockrealty Online Rock Wisconsin dot
com that's our o c K Wisconsin dot com doing
some myth bustings when it comes to real estate. And
as we're getting later in the summer here, the thing
you always hear is on people, I'm gonna hold off
until spring to list not the best idea always, is it? Not?

Speaker 2 (08:45):
Always?

Speaker 1 (08:45):
Yeah?

Speaker 2 (08:45):
I mean in general, you know, your March through June
months are are really busy, right and as a buyer,
you know, the good news is you'll have lots of
listings to choose from The bad news is you're going
to have everybody out and shopping. The minute the snow
thaws and the ice and the ice melts, all the

(09:06):
buyers come out, so you'll be competing. You know, sometimes
you may even have to go over asking price. All
depends on the situation. So if you're able to shop
as a buyer, you know, in the fall or winter months,
you have a much better chance of getting a pretty
decent deal in a house. And as a seller, just
remember that that also means there's more listings that people
can choose from. Right, So if there's a listing out

(09:28):
there that's more updated than yours and it's only maybe
listed for five thousand more, it's possible that buyers are
choosing that one versus if you're a seller and you're
selling in the fall or the winter, you might be
the best option at that price point and you might
even get competing offers.

Speaker 1 (09:44):
The other thing too, you think about somebody that is
that is if they're if they are out like potential buyers,
if they're out fall winter months, they're generally really you know,
these are not look you lose and I know for
a lot of folks, you know, when it comes to
listing your house. One of those kind of stressful things
is there's a show or there's you know, an open house,
those type of things that could be stressful if if

(10:04):
you're doing this during some of those some of those
I don't know if you gonna even call them off months,
those months outside of spring and summer. The people that
are you're gonna have maybe fewer showings. But those folks
that are coming, they're there for a reason. They're not
there to mess around, are they.

Speaker 2 (10:18):
No, that's a really good point. And that's what we see,
you know, you're in and year out is uh, you
know the tire kickers do come out in the spring,
right after being cooped up in their their apartment or
where after their parents' basement. Yes, you know, and people
that are willing to you know, brave the cold weather,
let's say, over the winter, are very serious, right and
they're they're out there because they want to buy a house,

(10:38):
and they're out there because they've already gone through a
preapproval and they're not just doing it for fun. And uh, yeah,
that's a good point.

Speaker 1 (10:45):
It's always a great time. Again, what time that's right
for you is always the best time. For it's a
great day. Pick a phone, give a call it Rock
Realty six oh eight six seven three fifty four hundred.
That's six oh eight six seven three fifty four hundred.
You don't have to wait till spring the list. You
don't have to wait until spring to start looking at
a great time to do that. If you are looking
to buy, you're looking to sell, you're looking to do
any of that, any of those transactions. They'd love to

(11:06):
talk with you at Rock Realty. Talking this morning with
Matt Heypeman of Rock Realty about some of the myths
when it comes to real estate. On this one here, Matt,
I think, gosh, I'm out of arms reach from you.
You don't need an agent, Matt, you don't need you,
just I just use still.

Speaker 2 (11:20):
Yeah, yeah, Yeah. It's the most complex one of them,
one of the most is the most complex transactions you're
going to go through, and also probably the largest purchase
that you're going to make, right and it's it's just
so important to have somebody representing you on your side,
to know that there's protections that need to be put
there in there for you, or to kind of know

(11:42):
what to do in a particular situation if issues do
come up, and issues often come up, whether or not
you know you've had experience as a buyer or you're
working with a very experienced agent, doesn't mean that issues
aren't going to happen. And it's just it's really important
to have someone rep presenting you going through, pointing out
the potential problems, potential liabilities, things that can come up,

(12:08):
and making sure you're protected. So having a realtor having
a real estate agent, it's very important.

Speaker 1 (12:13):
You think about the biggest purchase or the biggest sale
you're ever going to make in your life. Having having somebody,
I mean, that's somebody that knows the landscape and knows
what's going on. When I think sometimes if people kind
of phrase you know, you kind of phrase it that way,
I think for a lot of folks, you're like, oh, yes,
that makes sense. It's like we're talking a lot of money.
It's it's something that's going to be you know, you're

(12:35):
buying a home, you're spent making that big purchase. It's
something that that you're going to want that's going to
be perfect for you, not just this year, but for
years and years and years to come. And they think
about the value of working with an agent you mentioned too,
man being able to see things and spot things, and
of course putting putting together a bit of a team
around you, and on whether it comes to mortgage, you know,
finding a lender, finding you know, finding a good inspector,

(12:57):
those type of things as well. So a really great
you when it comes to working with a great agent.
Speaking of fantastic agents, the folks Rockrealty, they are here
for you this morning. I hope you have a chance
to check on out. Check on out over at rock
Wisconsin dot com. That's our ock Wisconsin dot com. Great
website to peruse some great listings. Also, if you're looking
to list yourself, don't forget about Rocklistings dot com. You

(13:19):
can get some great details there about some fantastic specials
going on at Rockrealty. Again their website, Rock Wisconsin dot com.
Tel for number six oh eight six seven three fifty
four hundred. That's six' so eight six seven three fifty four.
Hundred talk With matt a little bit more about some
of the myths out, there and maybe you, know when
it comes to, pricing how do you price the? House
some people may, think, oh there's a trick to this
and you no want to do. Trickery we'll find out

(13:40):
For matt, though all about that next As ask The
experts With Rock realty continues right here on thirteen ten
WUIB a eight forty nine thirteen Ten wi B a
and ask the experts hanging out this morning With matt how?
Youman of, Course matt comes to us From Rockrealty, Online
Rock wisconsin dot. Com that's Our Ock wisconsin tell number

(14:01):
six oh eight six seven three fifty four. Hundred that's
six oh eight six seven three fifty four. Hundred we'll
touch on our featured listing again before we wrap up this.
Week a great home right here In madison On Weston.
Drive i'll tell you a little bit more about that
property a little bit later on this segment this this
morning that we're talking about some myth, busting doing some
myth busting when it comes to real estate and you

(14:23):
think about, negotiations also think about the importance of working
with an. Agent one of the great benefits is understanding.
Pricing and one of the things people tend to believe
out there is you want, to you, know let's price
a little. High gives us a little bit of room for.
Negotiation not always the case hasn't.

Speaker 2 (14:37):
Met, yeah it's probably one of the biggest fetviewes right
for real estate agents is having sellers listed tie thinking that,
HEY i can always drop it when we know that
actually that's probably going to end up on the negative
side in the. End right, now we're. Not there is

(14:57):
usually a range that will recommend reckon end, Right but
if you list it too, high what you end up
having is people viewing the other listing that's price lower
and deciding that they don't want to offend the sellers
with a low.

Speaker 1 (15:10):
Offer.

Speaker 2 (15:10):
Right this is we get this feedback all the time
that the buyer doesn't even want to see the property
because they don't want to offend the seller if it
was fifteen thousand dollars less than it's listed. At and
so what ends up happening, is you, know the listing
sits on the, market and as you, know when you're
looking at some of these online website, portals they'll put
them up there according to what date they were. Listed

(15:31):
so the longer it's been, listed even if the price is,
dropped they are dropping down the, page and all of
a sudden you're on page two and no one's seeing
the price. Drop it looks like it's.

Speaker 1 (15:42):
Tainted.

Speaker 2 (15:42):
Good, yeah and that's not what you.

Speaker 1 (15:44):
Want by the, way you mentioned, feedback AND i know
you're for aside from being a great real estate agent
and running and working At Rock, REALTY i know you're
very much into you, know technology and numbers and that
type of. Thing that feedback real quick and they just
kind of it popped into my head before we get
to the next myth is you guys do a lot of.
It there's a lot of research that you guys are

(16:05):
doing individually At Rock. Realty obviously there's industry, stuff but
you guys also are gathering data and information constantly to
really help your agents and help your buyers and sellers as,
well aren't.

Speaker 2 (16:16):
You, Yeah and that's the thing is it's important to
be looking at the recent data just to see if
there's been any market, changes, right maybe an, upswing maybe
a downswing in that. Area and then also getting feedback
after the showings is, important so we'll get, that we'll
find Out, hey you, know it just felt like it
was a little, dirty, right and so we can you,

(16:37):
know give that feedback directly the seller and, say you,
know next, time maybe we should you clean this up
a bit or they felt like it was, overpriced, right
and we can give that feedback directly to, them so
we can kind of act in real.

Speaker 1 (16:47):
Time oh that is great to hear as we're talk
this morning With Matt heiman Of Rockrealty Online Rock wisconsin dot.
Com That's Rock Rock wisconsin dot. Com so we get
the home inspection comes, Back, oh it is. Perfect definitely
need to understand what that means when it comes to
a home, inspection what they're looking for and what that

(17:07):
what that really means right in the real.

Speaker 2 (17:09):
World, yeah home inspectors do a fantastic. Job they can
give you quite a bit of peace of, mind but
they can't check into everything and they can't predict what's
going to fail in the, future. Right, Yeah so they
can go through and tell you, that you, know these
particular things are defects or, say, hey you, KNOW i
noticed this may need some, maintenance, right but they're not
gonna they're not gonna know, that you, know two weeks

(17:31):
later the dishwasher stopped, working or that you, know the
water software needs to be. Replaced so you, know even
if an inspection comes back just stellar and, spotless you,
know it's important to know, that you, know it's a
house in. Ages everything in it, ages and there might
be things that happen after the.

Speaker 1 (17:49):
Fact are there some conversations where a home warranty might
be worth? Discussing is? That is that something that sometimes
as we talk, about you, know the unexpected, things the
furnace goes, out those kinds of you, know the reality is,
SOMEDAY i hate to break the, folks your furnace will go.
Out it. DOES i, mean it's just. Inevitable is a
home warranty worth discussing in that in that? Area, yeah

(18:09):
it's something.

Speaker 2 (18:09):
That we incorporate pretty. OFTEN i, mean you, know it's
gonna have to be a pretty new house for us
not to at least consider the home. Warranty it's such a,
great great thing to. Have and you know a lot
of times we're working locally WITH, uhp which is based
out Of, Middleton wisconsin, actually so the company is based.
Locally we like being able to you, know support a local.
Company and you, know there's also another option that most

(18:33):
people don't know. About but on top of home, warranty
there are some insurance. Companies we work With Charles bush
Over Evolve, insurance and there are writers that you can
put on your homeowners insurance that's for equipment. Breakdown, oh
and it's kind of you can double, up, right you
can do a home warranty and this this other, policy
or you can just try to just do this policy

(18:54):
and it tends to be actually cheaper than a home.
Warranty and you know home warranty or tend to be
around the five hundred dollars level where you can find
sometimes these writers that will go on on top of
the homeowners insurance maybe only two hundred.

Speaker 1 (19:05):
Dollars see you talk about the. Value just sitting here
talking With, MATT i just could have potentially saved myself
a few hundred bucks There where were you a few years?

Speaker 2 (19:12):
Ago?

Speaker 1 (19:12):
Matt, right it's a great day to start that. Conversation
by the, way as we talk With, Matt Matt heidman
With Rock, realty the telephone umber SIX o eight six
seven three fifty four. Hundred that's six oh eight six
seven three fifty four. Hundred talking about some of the
myths and when you hear a. Lot of, course you'll
always make money when you, sell but there are some
things you want to think about when it comes to.

Speaker 2 (19:32):
That aren't there, YEAH i mean history will tell us
on a longer timeframe that is, correct, Right but you
know there can be short term fluctuations for sure in the, market.
Right you, know it all depends on you, know how
quickly you're, selling how long you've had, it you, know
things like. That you, know if you bought in the
spring and then sold six months later in the, winter

(19:54):
it's most likely that that you're going to lose some, money,
right you, know you didn't give it enough time to
shades to that, point and you also had seasonality fighting
against you a, bit. Right but you, know the other
thing to keep in mind is also you know there are, fees,
right you have to involve a title, company there's title,
insurance there's taxes that the state collects with every. Sale

(20:15):
there's commissions. Involved sometimes there's a buyer side, commission sometimes
a seller side. Commission so there's other fees that and
transaction items that are involved when you when you sell
a house, Too so you do want to make sure
that you, know you do sit there for a little
bit if.

Speaker 1 (20:29):
Possible everybody gets, paid is what you're. Saying, like there's fees,
involved they do have to get paid for the. Time
it's weird how that, works, definitely and as you if
you're making that, decision and of course those calculations really important,
upgrades and this is one THAT i think a lot
of people fall fall four is it, Can but it's
not universal that all upgrades will add value to your.

(20:52):
Home that's not always the, case Isn't.

Speaker 2 (20:54):
Matt. YEAH i mean that's a pretty common occurrence where
you've got someone that bought it for two point fifty
they listed soon after putting thirty thousand dollars into a,
kitchen and they want to list it for.

Speaker 1 (21:03):
To eighty or to eighty, five.

Speaker 2 (21:05):
Right they sometimes they even think the upgrades are worth
more than they put in, Right and you, know in
some cases it's very close to a one on ONE,
roi but most most are. Not, right your typical kitchen,
remodel you're getting between fifty five and sixty five percent
back of what you put in. There, Right bathrooms a
little bit, higher you're at like sixty to seventy. Percent

(21:26):
BUT i would say the biggest return on investments in
general are going to be like your new. Flooring landscaping
sometimes is actually a larger investment than what you put
in just because it gives such good curb appeal and
paint paint Is paint's always the number?

Speaker 1 (21:41):
One what about putting money into LIKE i think about
certain things like let's say that you have an inoperable, something,
shower something that's definitely a place where where money is well.

Speaker 2 (21:51):
Spent, yeah, definitely OR i mean, yeah things that buyers
might worry, about like a brand new roof when it's
obviously looking really.

Speaker 1 (22:01):
Rough, yes, yes the time this morning With Matt. Heyman
great day to start that conversation with the folks At Rock.
Realty ALL i get to pick up Phone gama call
SIX o eight six seven three fifty four. Hundred that's
six oh eight six seven three fifty four. Hundred the
Website rockwisconsin dot. Com that's our Ock wisconsin dot. Com
while you're, there you will see a fantastic when one
of many houses right at sixty four Thirteen Weston. Drive

(22:25):
that is this week's featured. Listing i'm talked earlier and
you mentioned it checks all of those boxes when it
comes to, uh when it comes to a house that
folks are looking for two bedroom or three bedroom excuse,
me two baths right right here in the city Of,
madison near the school Near epic as. Well this is
a really a really nice, home a newer home as,
well nineteen ninety. Five to, ME i know that that

(22:46):
seems like. YESTERDAY i will add the error on the
end because AS i AS i think it's not, new
BUT i tend to say the same. Thing, yes, yes modern,
construction modern construct, struct, yes. Yes and with this, home
we talked about some of the different features and it's
it's as, is it's it's. Gorgeous but the cool THING
i like about is WHEN i got a chance to

(23:07):
look at some of those pictures in all those, areas
there's opportunities to make it, yours if that makes. Sense
is we're talking about that that, office like how how
do you want to configure? It what do you want
to do with these? Rooms what do you want to the?
Space it's also got an absolutely, fantastic fantastic backyard and
great neighborhood as. Well and of Course Jason, allen listing

(23:28):
agent on this, property give him a call this morning
six oh eight five, one six seventy one. Fifty that's
six oh eight five, one six seventy one to Fifty
Jason allen this. Morning is the is the listing agent
on this feature listening again right At west And, Drive,
matt we are flying. By we, yeah we made it
through the show and note it feels like we just
started and we Could, yeah we could probably go another

(23:51):
another hour or two for. Sure but again check out
this House west And. Drive Jason, allen the FAITH uh
listing agent on that six o't eight five one six
seventy one. Fifty the website Rock wisconsin dot. Com that's
R o C K wisconsin dot. Com vicky. McKenna she's
got a chance for you to win some cool. Stuff
next right here on thirteen Ten WI ba