Listen Up Home Buyers

Listen Up Home Buyers! Robert Shank Wyoming Exclusive Buyer Agent | Victoria Ray Henderson

Rob Shank is the owner and broker of Crossed Arrows Real Estate and a teacher at Crossed Arrows Real Estate School in Cheyenne Wyoming. Rob talks with Victoria Ray Henderson the host of Listen Up Home Buyers. Victoria is the owner & broker of HomeBuyer Brokerage serving home buyers in Washington D.C., Virginia, and Maryland. 

:55  How real estate representation works

1:10 Exclusive buyer agency and fiduciary relationships with clients

1:21  Description of the listing agent role and the buyer agent role in real estate

1:55 Why did Rob join the National Association of Exclusive Buyer Agents

2:09 More on how real estate representation

2:30 Description of Wyoming real estate representation

3:08 The role of a Real Estate broker in Real estate

3:34 Clients have a relationship with the broker and brokerage, not the individual real estate agent

4:45 Buyer agents and listing agents work under the supervision of a broker. 

4:08 What happens when the broker is representing a buyer purchasing a listing from the brokerage

5:20 How can a broker be neutral in many of these relationships?

5:55 The slippery slope of real estate representation

6:27 A buyers agent should never act as a salesperson

6:47 New marketing slogan, 'We're not going to sell you a house. We're going to help you buy one'

7:08 How buyer agents get paid

7:32 Exclusive buyer agency is a different mindset for the real estate agents who only work for home buyers

7:56 Exclusive buyer agency is a specialty.

8:20 Exclusive buyer agency brings concierge service to home buyers

8:48 Crossed Arrows Real Estate is the first exclusive buyer brokerage in Wyoming

Broker Rona Fischman on Listen Up Home Buyers! | Victoria Ray Henderson

:41 Why an exclusive buyer agent/broker?

53 Rona has a background as a teacher and counselor

1:16 Joined a small real estate brokerage specializing in supporting disabled people'shttps://4buyersre.com/ housing

1:33   evaluating a house for wheelchair accessibility

1:46 In Massachusetts in 2006, if you were a real estate agent, you worked for the seller, unless you signed off as a buyers agent, disclosures were often overlooked at that time

2:16 the story that changed how she would work in real estate

3:37 Anything you say to a listing agent as a buyer will be information shared with the seller to their advantage.

5:03 I want to help people make a huge financial commitment to something that would house their lives

5:10 don’t want to sell a thing (house)

5:30 putting pictures on Tinder is like the pictures on a listing

6:03 teaching people how to read through the marketing for a home is the job of an exclusive buyer agent

6:03 Joining NAEBA began in 1992 or 1993

6:56 Rona Fischman is a founding member of the National Association of Exclusive Buyer Agents

7:39 What Rona did as a new agent, in 1992, taking classes through the National Association of Realtors and other class sites

8:50 Tip for buyers find the houses that didn’t sell right away and you can negotiate

9:50 Exclusive buyer agents understand the marketing and know how to work around it

Inventory is down in the DC area at this time Spring 2023

10:00 The challenge of protecting a home buyer in Spring 2023

10:30 Rona’s advice on making offers in a competitive environment, Nobody is rich enough not to care about money

10:45 Based on the market study, the market conditions, the competition, and what to expect if you buy at top dollar

11:00 Should a buyer compete for a property for sale?

12:25 Pre-contract home inspection

13:30 A buyers agent at Noon and a sellers agent at 3 pm with a designated agency

13:44 How to evaluate a property?

14:40 Is a three-bedroom really a 3 bedroom?

14:46 The asking price is just marketing

15:15 Altoid box as a junction box

15:47 there’s wrong and easy to fix and there’s wrong and you need to walk away

17:02 Why is Rona an exclusive buyer’s agent? She provides a body of information to enhance a buyer's life

17:30 It’s a conscious decision to give up the listing side to represent home buyers 100%

18:10 We know the listing agents who do good work for their clients. We respect them and love them
 

Listen Up Home Buyers! Home Loan Options with Dave Nichols | Victoria Ray Henderson

Dave Nichols a loan originator with NBKC Bank licensed in 50 states & the District talks with host, Victoria Ray Henderson. 

NMLS #409631 NMLS #662630

First-time home buyer programs

Down payment assistance options

:57 focus of the podcast is educating home buyers

1:08 what is the lowest down payment option?

1:54 What is a Fannie Mae 3% option?

2:58 How important is a credit score?

3:19 620 credit score may not qualify for a 3% down payment

4:11 What is the debt-to-income ratio and why does it matter?

5:04 what is private mortgage insurance?

5:47 FHA program is more expensive than conventional financing

7:00 when you apply for a loan, the lender examines how much of a risk you are as a buyer

7:48 720 credit score? A lender may compare FHA and conventional financing to see what works best for the home buyer

8:22 What are points? A point is 1% of the loan amount.

Should I buy down the interest rate by paying points?

8:54 What is par?

9:50 Full explanation of buying down points

10:31 What factors into the ability to pay down points?

12:31 First step is understanding what goes into your monthly mortgage payment

14:00 can refinance in a year or so be an option?

15:120 Fannie Mae and Freddie Mac are making changes to the way they guide lenders regarding loan-level pricing adjustments
 

Down Payment Assistance Programs with Fannie Mae & Freddie Mac | Victoria Ray Henderson

Skip Cobb opened Revolutionary Mortgage Company in 1988. Based in Maryland, Revolutionary Mortgage Company provides conventional, FHA, VA, USDA, and jumbo loans. We are licensed in Maryland, Virginia, D.C., West Virginia, Delaware, and Florida.  Skip talks with Victoria Ray Henderson on Listen Up Home Buyers! The only podcast offering advice & tips from exclusive buyer agents. 

1:00 What is the purpose of Fannie Mae & Freddie Mac

1:20 Two programs we will talk about are the Freddie Mac Borrow Smart Program linked to Home Possible and the new Fannie Mae Purchase Plus program – both are down payment assistance programs. 

1:33 Are they available in all 50 states?

2:00 Fannie Mae Purchase Plus program

2:43 How do the programs work? How do home buyers qualify?

3:04 Restricted income

3:26 Borrow Smart and Purchase Plus minority census areas

4:11 It is property driven meaning only some properties will qualify for these loans

4:50 Links to Freddie Mac & Fannie Mae websites for more information

5:00 $5000 max for the Fannie Mae program includes thousands of properties

6:10 Fannie Mae program is not income limited

6:45 You may qualify if you currently live in the minority census area

7:00 Home Possible Program details

7:47 Do your homework! Investigate what programs you may qualify for in your area

9:18 Your exclusive buyer's agent should be answering all your questions and advocating on your behalf 100% of the time

10:23 Online education courses are required for some programs

11:23 Skip Cobb provides details of the lender letter which is sent to the listing agent with the contract offer

Skip Cobb Company NMLS: 213201
Skip Cobb NMLS: 211493

Winter Home Inspections & Home Maintenance | Victoria Ray Henderson

Meet Glenn Grutta the owner of Vector Home Inspections in Massachusetts. Glenn talks with host, Victoria Ray Henderson the owner & broker of HomeBuyer Brokerage on Listen Up Home Buyers! 

:33 One of the biggest challenges to doing a home inspection in winter is getting to the property to do the inspection

:52 when snow is on the ground, how do you evaluate the perimeter of the home?

1:20 start with the the interior of the house to keep the property neater

2:00 snow on the roof limits the visual but there are clues

2:15 lines on the roof indicate heat loss in the home

2:45 the lines you see on the roof are the actual rafters

This indicates the need for better insulation

3:13 icicles and ice dams on a house

3:38 ice dams are often associated with water in the house but that’s not the entire story

4:15 in the attic, look at the nails in the roof for signs of heat los

4:40 in the winter the inspector spends more time in the attic so evaluate the roof

5:00 newer homes have better insulation than old houses and less likely to have ice dams

6:08 heat cables, what are they?

7:13 advice for home owners in the winter
7:50 look for pipes exposed to the weather

8:03 what to do with water pickets

8:30 plumbing on exterior walls, what to do

9:07 home ownership is doing visual maintenance
9:45 look for clues while doing an exterior walkthrough

10:04 most homes are not graded properly

You want a positive grade to the dirt

11:03 remember, water is your enemy as a home owner or home buyer

11:39 create your own history in a home

12:30 weather patterns have changed and there is more water sitting on properties which can cause issues for the home.   

12:50 sit with a house before major remodeling projects
14:00 winter time is an opportunity to check the windows

14:32 make a list of your concerns and don’t be afraid to ask questions

15:03 as a home buyer, who inspects the house is your decision. Choose a home inspector who communicates well

15:45 interview your home inspector