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Two real estate agents and a lender talk about real estate in Utah. It‘s a homegrown real estate podcast for buyers, sellers, investors, and agents.
Episodes
Tuesday Jun 21, 2022
Tuesday Jun 21, 2022
You can watch this episode on YouTube.com: https://youtu.be/dxejform3vs
Looks like a seller's market, acts like a seller's market — It's probably still a seller's market.
0:00 - Introduction
1:05 - Listener Question - how to find a good lender.
1:40 - Market Freefall? - What are you really witnessing? Are price drops a sign of a crash? Well, it's more a sign of a correction. People don't like this home at this price. Right now, this is more a sign that there are homes priced inappropriately.
5:45 - Sale Price to Listing Price Ratio - We've seen high ratios - well over 100%. Now we're seeing lower values, but the values are still over 100%. The premium on properties is substantially lower. Know what the data is, and how to interpret the data. Days on Market (DOM) is another common statistic. DOM has been as low as 4 days. A much more balanced market can see DOM at 20 or 30 days.
11:30 - Market is Shifting, but It's Still a Seller's Market - How much of a shift is it? Will it crash? We still need a lot more inventory. This isn't a "bubble." This is a supply and demand issue.
13:30 - Local Comps - When a buyer is looking in this area, they'll likely take a look at these properties as well. Does your home compare well to these others?
14:45 - What's Your Agent's Strategy - Let's say the house doesn't sell, what then?
16:26 - What's Your Selling Strategy? - What if you market terms?
17:05 - What'd We Learn Today?
19:15 - Out Takes.
* No sellers were harmed in the making of this video.
Please contact us to tell us you love us, you want to hire us! Call or text:
Realtors with Hive Collective at Presidio Real Estate:
Tyler Cazier: 801-210-0230
Aric Wiszt: 801-228-7687
Lender with Elite Team at Security Home Mortgage:
NMLS: 178787
Jason Christiansen: 801-669-7271
NMLS: 240472
A Production with Security Home Mortgage's Jason Christiansen, and Hive Collective at Presidio's Tyler Cazier and "Mr. Suit" Aric Wiszt.
Tuesday Jun 14, 2022
Tuesday Jun 14, 2022
You can watch this episode on Youtube.com: https://youtu.be/ALsX-M82ET8
There is a new seller disclosure document — do you know how to use it?
0:00 – Introduction.
1:18 – No assumption of agency for presenting the disclosure document.
2:49 – Liability. Liability lies with the information. If the seller has information and doesn’t disclose, the seller has the liability. Once the seller discloses to the information to the buyer, the buyer has the information (and the liability).
3:15 – Why do we have disclosures? Seller obliged to disclose “Material Fact.” Would a reasonable person think this fact affects the value or what a buyer would offer? Then it should be disclosed. This isn’t a $50 purchase. It’s a $700,000 home, and the buyer deserves to know all they can about this gigantic transaction.
7:35 – Permits.
9:55 – Who owns components of the property?
10:52 – Boundaries and Easements. Are there encroachments? Are there disputes?
13:01 – Water. Where’s your water from? Secondary water? HOA? Well? Secondary Water?
14:15 – Meth & Stigmatized Property. You can always ask about a stigmatized fact, and you’re entitled to an answer. Do you know for certain? Answer “yes” if you do, otherwise, you’re obliged to answer “no”.
18:45 – They leave you most of a page for clarification.
19:31 – What’d we learn today?
21:42 – Out Takes.
* No stigmatized properties were harmed in the making of this video.
Please contact us to tell us you love us, you want to hire us! Call or text:
Realtors with Hive Collective at Presidio Real Estate:
Tyler Cazier: 801-210-0230
Aric Wiszt: 801-228-7687
Lender with Elite Team at Security Home Mortgage:
NMLS: 178787
Jason Christiansen: 801-669-7271
NMLS: 240472
A Production with Security Home Mortgage's Jason Christiansen, and Hive Collective at Presidio's Tyler Cazier and "Mr. Suit" Aric Wiszt.
Tuesday Jun 07, 2022
Tuesday Jun 07, 2022
You can watch this episode on Youtube.com: https://youtu.be/rSeLyTSKutQ.
You know what happens when you assume. But do you know what happens when you assume a loan?
0:00 - Introduction.
2:29 - Context of Assumptions.
3:25 - Who decides if it's assumable? Government loans are still assumable, but conventional mortgages are not. Contact your servicer — they'll let you know if the loan is assumable.
6:22 - It's a seller's market. How do you market an assumable loan? Contact the assumptions department at the servicer.
8:40 - What about the appraisal? Doesn't need it — it already appraised, but the BUYER has to come up with the difference.
11:15 - VA loans assumptions. Veteran's entitlement matters. If another Vet tries to assume the loan the selling Vet's entitlement is retained, which may mean they won't be able to purchase another home using VA.
14:30 - Spend enough time researching the assumption.
15:15 - What'd we learn today?
17:01 - Out takes.
* No assumptions were harmed in the making of this video.
Please contact us to tell us you love us, you want to hire us! Call or text:
Realtors with Hive Collective at Presidio Real Estate:
Tyler Cazier: 801-210-0230
Aric Wiszt: 801-228-7687
Lender with Elite Team at Security Home Mortgage:
NMLS: 178787
Jason Christiansen: 801-669-7271
NMLS: 240472
A Production with Security Home Mortgage's Jason Christiansen, and Hive Collective at Presidio's Tyler Cazier and "Mr. Suit" Aric Wiszt.
Tuesday May 31, 2022
Tuesday May 31, 2022
You can watch this episode on YouTube.com: https://youtu.be/dNLxv2PB4cU
What is the difference between down payment and closing costs? Who gets what?
0:00 - Introduction
0:42 - Not the same.
1:20 - Questions. How much money do you have? (Spoiler: Most likely it's not putting the "down payment" you've saved 100% toward the loan. It costs money to get a loan...and there are other incidentals.)
4:00 - Buying Discount Points. Spendy.
6:00 - Talk to your Lender. Cash to close, closing costs, prepaid costs are all different things that overlap.
8:40 - Earnest Money. Putting down a lot of earnest money doesn't go to the lender, to the agent, or to the seller. It goes to your house. Maybe it pays closing costs, maybe it's down payment. Talk to your lender.
11:31 - New Construction. You qualified for your loan several months ago...and now rates have gone up. STAY IN CONTACT WITH YOUR LENDER.
12:38 - What'd we learn today?
14:20 - Out Takes
* No down payments were harmed in the making of this video.
Please contact us to tell us you love us, you want to hire us! Call or text:
Realtors with Hive Collective at Presidio Real Estate:
Tyler Cazier: 801-210-0230
Aric Wiszt: 801-228-7687
Lender with Elite Team at Security Home Mortgage:
NMLS: 178787
Jason Christiansen: 801-669-7271
NMLS: 240472
A Production with Security Home Mortgage's Jason Christiansen, and Hive Collective at Presidio's Tyler Cazier and "Mr. Suit" Aric Wiszt.
Tuesday May 24, 2022
Tuesday May 24, 2022
You can watch this episode on YouTube.com: https://youtu.be/DmcleXHh624
What would you do with a million dollars?
That's the question we pose this week on the show. What do you buy? How much do you save? What are the wise decisions with this money?
0:00 - Introduction
1:01 - $1 Million - what do you buy? Statistically, most people blow most of that money. Statistically, people who win the lottery, take only a few years to return to before-lottery-winnings-financial position. (https://www.cnbc.com/2014/10/01/sudden-wealth-can-leave-you-broke.html)
4:14 - Jason's $1 Million. Jason buys 4 residential Single Family Homes (SFH) 25% down payment. $750,000-range homes. Family rentals in Lehi, UT.
5:31 - Aric's $1 Million. Aric buys some fun stuff (including a new truck! and a car for his wife). Then he'd invest. He would buy 10 homes in 10 states so he can write off visiting his businesses. $150,000 spent on "bogus" stuff. Then buy 10 long-term rental properties in 10 states...at about $85,000 per property. He'd buy two without his wife's knowledge.
8:82 - Tyler's $1 Million. Pay off automotive loans ($25,000). Would NOT pay off primary residence or investment properties. $100,000 in crypto. $150,000 in dividends equity positions. Real estate purchases with the last $725,000 in non-urban areas in Utah (east and south) with 20% - 25% down, focusing in multifamily.
11:26 - Your $1 Million. What would you spend $1 Million on? Get your game plan. Get your strategy. If you know what you're going for, it's WAY easier to see a way there. "Everything's impossible until you do it."
13:01 - Tyler diversified. Other plans were not. But Tyler's not selling his assets — hold them forever.
14:28 - Is Jason's strategy bad? Jason's methodology: pick an amount of money you want to live on over a month when you retire: $10,000 per month, for example. Figure out what type of property rents for that number. "If I have this many houses at that time, I'll be ok."
17:36 - What's your plan? "The bigger your dream, the easier your path."
18:39 - What'd we learn today?
20:21 - Outtakes
* No dolla billz were harmed in the making of this video.
Please contact us to tell us you love us, you want to hire us! Call or text:
Realtors with Hive Collective at Presidio Real Estate:
Tyler Cazier: 801-210-0230
Aric Wiszt: 801-228-7687
Lender with Elite Team at Security Home Mortgage:
NMLS: 178787
Jason Christiansen: 801-669-7271
NMLS: 240472
A Production with Security Home Mortgage's Jason Christiansen, and Hive Collective at Presidio's Tyler Cazier and "Mr. Suit" Aric Wiszt.
Tuesday May 17, 2022
Tuesday May 17, 2022
You can watch this episode on YouTube.com: https://youtu.be/DNHt3d4MN5s
This is our interview with Utah Real Estate Investor, Rusty Pollard. We talk about his deals and break down how he looks at a deal. Rusty offers several tips and lessons he's learned in his 10-year journey from 0 doors to 100 doors.
* No drug houses were harmed in the making of this video.
Please contact us to tell us you love us, you want to hire us! Call or text:
Rusty Pollard
Director of Affiliates with ERC Specialists
https://ercspecialists.com
Realtors with Hive Collective at Presidio Real Estate:
Tyler Cazier: 801-210-0230
Aric Wiszt: 801-228-7687
Lender with Elite Team at Security Home Mortgage:
NMLS: 178787
Jason Christiansen: 801-669-7271
NMLS: 240472
A Production with Security Home Mortgage's Jason Christiansen, and Hive Collective at Presidio's Tyler Cazier and "Mr. Suit" Aric Wiszt.
Tuesday May 10, 2022
Tuesday May 10, 2022
You can watch this episode on YouTube.com: https://youtu.be/WfLA0um9Cks.
0:00 - Introduction
0:41 – Section 25. Jason reads section 25 in its entirety. If the other party doesn’t accept the offer, the offer shall lapse, and the earnest money is returned. This is the one time you can communicate NOT in writing.
1:25 – 3 Options. Acceptance, Counter, Rejection, and Nothing: the only ways to response to an offer. Don’t just fail to respond — it’s rude!
3:45 – What’d we learn today?
4:30 – Tell us your favorite section, and Jason will take you to dinner!
5:36 – Out Takes
* No counteroffers were harmed in the making of this video.
Please contact us to tell us you love us, you want to hire us! Call or text:
Realtors with Hive Collective at Presidio Real Estate:
Tyler Cazier: 801-210-0230
Aric Wiszt: 801-228-7687
Lender with Elite Team at Security Home Mortgage:
NMLS: 178787
Jason Christiansen: 801-669-7271
NMLS: 240472
A Production with Security Home Mortgage's Jason Christiansen, and Hive Collective at Presidio's Tyler Cazier and "Mr. Suit" Aric Wiszt.
Tuesday May 03, 2022
Tuesday May 03, 2022
These are the dates that matter the most in the contract. Get them right!
0:00 – Introduction
0:50 – Your Deadlines. The biggest issue we see is where dates are out of order.
2:27- Story time with Jason. Don’t fill these out without talking to your lender!
3:43 – Relative Dates. This is Tyler’s pet peeve. Use explicit deadlines. Backup-position contracts are the only exception, which should be clarified upon promotion to primary position.
4:45 – Non-Deadlines. What happens if you waive a contingency associated with a deadline?
6:01 – Financing & Appraisal. That’s two deadlines. You can waive one, and still have the other. Talk to your lender about appraisal timelines.
6:54 – Settlement. That’s when you sign, not when all the money moves. Pay attention.
7:73 – Deadlines. These are deadlines, when things HAVE to be done. If you’re done with everything, you don’t need an addendum to move a timeline up. It’s your responsibility as a contract writer to make sure the meaning is clear.
9:15 – What’s we learn today?
10:59 – Out takes.
* No calendars were harmed in the making of this video (because they don't exist.)
Please contact us to tell us you love us, you want to hire us! Call or text:
Realtors with Hive Collective at Presidio Real Estate:
Tyler Cazier: 801-210-0230
Aric Wiszt: 801-228-7687
Lender with Elite Team at Security Home Mortgage:
NMLS: 178787
Jason Christiansen: 801-669-7271
NMLS: 240472
A Production with Security Home Mortgage's Jason Christiansen, and Hive Collective at Presidio's Tyler Cazier and "Mr. Suit" Aric Wiszt.
Tuesday Apr 26, 2022
Tuesday Apr 26, 2022
You can watch this episode on YouTube.com: https://youtu.be/5Zs9YfNwz0k.
We hear it all the time, "What's the response deadline?" Well, there isn't one, because no such thing exists. It's an acceptance deadline, you chump!
0:00 - Introduction
0:58 - Acceptance is what a contract is. Section 23 talks about Acceptance.
1:36 - Acceptance. What is acceptance? 1) It has to be signed by everybody. 2) It has to be communicated.
2:37 - Everything in Writing Except Acceptance. You can communicate with a call, email, etc (providing everything is signed already).
3:56 - What If It's Not Signed? What if it's not done by 5:00 p.m. (or the deadline)? Well, it expired. Talk to an agent for the right way to resurrect a contract.
5:32 - What'd we learn?
7:00 - Outtakes.
* No response deadlines were harmed in the making of this video (because they don't exist.)
Please contact us to tell us you love us, you want to hire us! Call or text:
Realtors with Hive Collective at Presidio Real Estate:
Tyler Cazier: 801-210-0230
Aric Wiszt: 801-228-7687
Lender with Elite Team at Security Home Mortgage:
NMLS: 178787
Jason Christiansen: 801-669-7271
NMLS: 240472
A Production with Security Home Mortgage's Jason Christiansen, and Hive Collective at Presidio's Tyler Cazier and "Mr. Suit" Aric Wiszt.
Tuesday Apr 19, 2022
Tuesday Apr 19, 2022
You can watch this episode on YouTube.com: https://youtu.be/58l6FBgN5KE
Yes, we can sign for real estate purchases with electronic signatures, but how does that really work?
0:00 - Introduction
1:05 - Counterparts. You can sign digitally, but you can also sign in "counterparts". This means that you can have multiple copies and they progress toward a fully signed document. The document with all the signatures (no matter how many copies have been made), is the original.
2:40 - Wet Signatures are Slow. It used to be that you had to sign the same doc with wet signatures.
3:21 - Example of Wet Signatures. Story of Aric's client that didn't use electronic signatures. It made everything slow.
4:05 - Copy of a Copy. A copy of a copy of a copy, as long as it has all signatures is considered the original.
4:20 - What'd we learn today?
4:40 - What if grandma needs help and has someone else sign in? Is that a valid signature?
6:25 - Outtakes.
* No pens were harmed in the making of this video.
Please contact us to tell us you love us, you want to hire us! Call or text:
Realtors with Hive Collective at Presidio Real Estate:
Tyler Cazier: 801-210-0230
Aric Wiszt: 801-228-7687
Lender with Elite Team at Security Home Mortgage:
NMLS: 178787
Jason Christiansen: 801-669-7271
NMLS: 240472
A Production with Security Home Mortgage's Jason Christiansen, and Hive Collective at Presidio's Tyler Cazier and "Mr. Suit" Aric Wiszt.
Tuesday Apr 12, 2022
Tuesday Apr 12, 2022
You can watch this episode on YouTube.com: https://youtu.be/_qpaUUzdwMg
It's 5:00 somewhere, but what does that mean? The Utah State Real Estate Purchase Contract (REPC) spells it out in section 21: Time is of the Essence.
0:00 – Introduction
1:12 – What does “Time is of the Essence” Mean? Time is an important factor in the contract.
1:48 – Day Ends at 5:00 p.m. Any date is assumed to end at 5:00 p.m. (Mountain Time) on that day.
3:29 – Today is Day 0. If you have 4 days to deposit earnest money, for example, tomorrow is day 1.
5:29 – Storytime with Aric. This is a buyer we didn’t love. They passed the 5:00 p.m. deadline, and we kicked them out of the contract to accept a better offer.
7:35 – 5:00 deadline only applies to buyer and seller. Not the lender, appraiser, inspector, or anyone other third party.
8:43 – What’d we learn today?
10:28 – Bloopers.
* No clocks were harmed in the making of this video.
Please contact us to tell us you love us, you want to hire us! Call or text:
Realtors with Hive Collective at Presidio Real Estate:
Tyler Cazier: 801-210-0230
Aric Wiszt: 801-228-7687
Lender with Elite Team at Security Home Mortgage:
NMLS: 178787
Jason Christiansen: 801-669-7271
NMLS: 240472
A Production with Security Home Mortgage's Jason Christiansen, and Hive Collective at Presidio's Tyler Cazier and "Mr. Suit" Aric Wiszt.
Tuesday Apr 05, 2022
Tuesday Apr 05, 2022
You can watch this episode on YouTube.com: https://youtu.be/_qpaUUzdwMg
Insurance protects you from loss. But what does the Utah Real Estate Purchase Contract (REPC) say about insurance and risk of loss during the purchase period?
Spoiler: It says the seller pays.
0:00 - Introduction
1:30 – Insurance will cover it. Does the buyer have to have insurance? Only if they are using a lender. The seller has to cover loss during the purchase period.
2:30 – 10% loss. This is why you don’t let the buyers move in early. All damages covered by the seller. If the damage is more than 10% of the purchase price…either party can elect to drop out of the contract.
3:21 – Story time with Aric.
4:34 – Hypothetical Situation: Italian Bobcat Fur Flooring. All repairs are on the seller. Letter of the contract – if it’s under the 10% par, they cannot exit the contract. The buyer will keep looking in the contract, and they’ll find section 11 – that the property is “as represented”. And that’s why earnest money keeps the contract alive. In the ender, you’re either going to negotiate or litigate.
9:59 – Acts of Terrorism. Not covered.
10:16 – What’d we learn today?
12:24 – Bloopers.
* No Italian bobcats were harmed in the making of this video.
Please contact us to tell us you love us, you want to hire us! Call or text:
Realtors with Hive Collective at Presidio Real Estate:
Tyler Cazier: 801-210-0230
Aric Wiszt: 801-228-7687
Lender with Elite Team at Security Home Mortgage:
NMLS: 178787
Jason Christiansen: 801-669-7271
NMLS: 240472
A Production with Security Home Mortgage's Jason Christiansen, and Hive Collective at Presidio's Tyler Cazier and "Mr. Suit" Aric Wiszt.
Tuesday Mar 29, 2022
Tuesday Mar 29, 2022
You can watch this episode on YouTube.com: https://youtu.be/ZxVcl1oPyAY.
What are the real costs of owning a house? We break down the mortgage payment and everything you have to pay for AFTER the mortgage payment!
0:00 Introduction
1:17 - Story time with Aric. When he bought his first house, he THOUGHT he understood what he'd be paying, but there was much more than he anticipated.
3:38 - The mortgage payment. Principle + Interest. Could also have escrows like Taxes and Insurance. Together they are PITI.
4:57 - HOA. If you have an HOA, you will pay a monthly fee. Understand what your HOA fee includes. To what level of care must your lawn be?
6:30 - Utilities. Electricity, heat (usually gas), water, garbage & recycling, sewer, and internet. During due diligence, find out what your expenses are.
9:54 - Repairs & Maintenance. Set aside 1% of your home's value annually. Save it if you don't spend it this year because the expenses will come. Take an automatic draw for 1/12 of your budget annually.
13:32 - Appliances. Dishwasher, water heater, washer, dryer, etc. They all wear out!
14:14 - Story time w/ Tyler. Broken dishwasher.
15:18 - What did we learn today?
17:01 - Bloopers
* No HOAs were harmed in the making of this video.
Please contact us to tell us you love us, you want to hire us! Call or text:
Realtors with Hive Collective at Presidio Real Estate:
Tyler Cazier: 801-210-0230
Aric Wiszt: 801-228-7687
Lender with Elite Team at Security Home Mortgage:
NMLS: 178787
Jason Christiansen: 801-669-7271
NMLS: 240472
A Production with Security Home Mortgage's Jason Christiansen, and Hive Collective at Presidio's Tyler Cazier and "Mr. Suit" Aric Wiszt.
Tuesday Mar 22, 2022
Tuesday Mar 22, 2022
You can watch this video on Youtube.com: https://youtu.be/AZOVrIe9NSc
What does "And/Or Assigns" actually do?
0:00 - Introduction.
1:03 – Assignable. To assign a contract is to sell the sale of the contract, NOT the actual property. This is called “Wholesaling” a property.
2:05 – REPC Forbids Assignment. You can’t assign the contract, unless you do it properly. Assignment may happen because they may not know what they have. The REPC is protecting the seller. A long deadline is sign of a possible assignment.
5:35 – Permissible Transfer. If an individual gets it under contract, but they want their family trust (or other related entity), they can transfer using Permissible Contract.
6:51 – What’d we learn today?
8:43 – Bloopers.
* No assignments were harmed in the making of this video.
Please contact us to tell us you love us, you want to hire us! Call or text:
Realtors with Hive Collective at Presidio Real Estate:
Tyler Cazier: 801-210-0230
Aric Wiszt: 801-228-7687
Lender with Elite Team at Security Home Mortgage:
NMLS: 178787
Jason Christiansen: 801-669-7271
NMLS: 240472
A Production with Security Home Mortgage's Jason Christiansen, and Hive Collective at Presidio's Tyler Cazier and "Mr. Suit" Aric Wiszt.
Tuesday Mar 15, 2022
Tuesday Mar 15, 2022
You can watch this episode at https://youtu.be/jqc-78Zm6UU.
A LOAN ESTIMATE happens when you apply for a loan, but it’s a long road before that loan funds. A CLOSING DISCLOSURE tells the borrower what may have changed.
0:00 – Introduction
1:00 – There’s ALWAYS confusion about these docs. Loan estimate comes out way up front. Closing Disclosure comes right at the end. They should be ALMOST IDENTICAL. This is an improvement over the HUD-1 Settlement Statement — it’s way more transparent, and way better for the borrower.
3:25 – 3 Day Rule. The borrower has to receive a CD 3 days before they sign the loan. The review should be pretty quick.
4:02 – Closing Disclosure Basics. 1) Loan amount. 2) Interest Rate. 3) Full Payment. 4) Closing Costs. 5) Cash to Close.
4:16 – Loan Amount.
4:31 – Interest Rate.
4:47 – Full Payment.
5:12 – Closing Costs.
5:20 – Cash to Close.
5:40 – Closing Costs vs Pre-Paid Costs. Closing costs are costs to obtain the loan. Prepaids are costs associated with the transaction, but NOT the loan.
6:25 – Shop the Loan Estimate. Compare loan estimates from different lenders to see which lender is giving you a better deal.
7:50 – Property-Specific Expenses. These can be surprises, for example HOA transfer fees.
8:29 – What’d We Learn?
10:13 – Bloopers.
* No estimations or disclosures were harmed in the making of this video.
Please contact us to tell us you love us, you want to hire us! Call or text:
Realtors with Hive Collective at Presidio Real Estate:
Tyler Cazier: 801-210-0230
Aric Wiszt: 801-228-7687
Lender with Elite Team at Security Home Mortgage:
NMLS: 178787
Jason Christiansen: 801-669-7271
NMLS: 240472
A Production with Security Home Mortgage's Jason Christiansen, and Hive Collective at Presidio's Tyler Cazier and "Mr. Suit" Aric Wiszt.