The Savvy Synopsis

What should you look for in a real estate agent before you begin working with them? Are HOAs good or bad? What does it mean to buy a house “as is”? Angie will answer these questions and more as we go through the mailbag.

0:39 Closing Recap: Investment property

• Edward and Meredith, who were referred from a past client, just closed on an investment property.
• They found a rental investment property near NC State.
• Set to close in less than 30 days, they had a quick process to buying this property.
• You have to think about the long-term, not just a quick fix.

 8:23 Choosing a real estate agent

• Berta has done lots of research about working with a real estate agent but is having a hard time deciding. How can she narrow it down?
• Make sure to compare their marketing, pricing strategies, and the personality fit.
• Once you start working with them, you’re “married” to them through closing.
• You want them to look out for you and your best interests.
• Do not always go with the agent that gives you the best price--choose the agent who is honest and educates you.

 13:58 Avoiding an HOA

• Emily in Holly Springs is not a fan of HOAs and their restrictions. Is she missing out on some great homes?
• Remember that about 75% of homes in the Triangle are probably managed by an HOA.
• Every HOA is different, some are minimal.
• There are some neighborhoods that are strict, but many are lenient.
• An HOA is there to maintain values in your neighborhood.
• You’ll likely need to go on the outskirts of town to find a home without an HOA.

 17:00 Buying as is

• Stone in Wake Forest wonders what he should know about finding a home “as is” and what that means.
• All homes in North Carolina are sold as is in their current condition.
• There is an understanding that both parties will be reasonable when it comes to due diligence.
• When real estate agents make it clear from the beginning, that is stating that the seller is not as willing to negotiate regarding repairs.

 21:16 Selling with a tenant

• Tabby in Knightdale is having a hard time selling her home and is paying two mortgages right now. Will having a renter in her old home make it harder to sell?
• Yes, it is more difficult to sell a home with a tenant still in it.
• Tenants do not keep the home as tidy as an owner would, but they also may deny the showing requests.
• The new owner will have to honor existing lease agreements.

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Angie Cole - Contact - Call: 919-538-6477

Show Transcription:

Note: This is an automated transcription. Please forgive the robots as they tend to make some mistakes...

Speaker 1: It's time for the savvy real tour podcast I'm Walter Salt alongside Angie Cole, the owner and broker in charge of a coal realty, serving you throughout the triangle, teaching you about the ins and outs When it comes to buying or selling a home, you confined the team online by going to a coal realty dot com. That's a c o L e realty dot com or by calling 9195783128 That's 0 9195783128 91957831 to 8. And now it's time for one of the top real tours in the Triangle. Angie Cole and the savvy Real Tour podcast. This is the closing recap here on the savvy real tour we like to celebrate each week. One of the recent buyers or sellers that worked with Angie Colin, the Eko Realty team and reached a successful conclusion on buying or selling their home. And we discover some of the challenges and obstacles that they may be faced along the way and how angina team helped overcome those. And it's just a fun time to celebrate here on the program each and every time. Angie, what's ah this week's featured couple or ah, single person or who we're talking about this week.

Speaker 2: So we got a couple way. Have Edward and Meredith you actually were connected with us or are well connected. 31 of our past clients. So thank you so much, Mike, for connecting us with Edward and then his wife, Meredith. So Edward in Meredith wanted to buy an investment property. So we quickly got them in touch with our buyer, specialist, Alex. Harder. Alex is amazing when it comes to working with investors and understanding that whole side of the real estate, you know, business. And so they ended up going under contract and buying an investment property right off a Kaplan drive right near NC State. So great rental investment property that they ended up purchasing. And, you know, hopefully we'll hold on to it for a while, make them lots of money, and then we will be there, go to whenever it's time to sell their home. So thanks. Edward and Meredith Meredith for trusting our team. They actually had a really quick process. Meaning, I think Alex took them out. Maybe once ended up. You know, Alex has the eye for things and he knows what to show them. And Amelie went under contract, and then they were set to close in you no less than 30 days. So congrats to Edward and Meredith on the purchase of your new investment property.

Speaker 1: That's pretty cool. Angie, do you see a lot more people these days? I guess kind of, you know, looking for investment properties has not become mohr or less popular these last few years.

Speaker 2: So, you know, we honestly, we are bombarded with potential investors or investors who are just trying to get into our market, you know, asking for us to help them. You know, I think one thing that's important to note that, you know, if you are looking to get into investment properties and you're coming into the triangle, the Raleigh area to make a purchase, you know you are not going to get some fabulous steal on home. You know it. That's just kind of being oblivious to our market conditions. So, you know, there are some deals out there, but there's a really foreign few between, but you have to think about long term, right, So you need to think about, you know, what you're buying now, the potential for appreciation, the return on investment that you'll get on it long term and not just look for a quick fix, because if there are those opportunities out there, we would all be jumping in. And there's just non right. So, you know, this is something that Edward America that completely understood that, you know, let us go ahead and buy an investment property, build our portfolio, Have you no tenants move in to pay farm or against you know? So it's just actually little income every single month coming in. But in the grand scheme of things long term, it makes sense.

Speaker 1: That's fantastic. And I think if you are kind of wondering out there, I'm looking for a you know, investment property. Or if it is, I'm just looking for my forever home. Well, there's a reason that Angie and her team of amassed over 205 star zillow dot com agente reviews. If you go to zillow dot com and look up Angie Cole or a cool realty, you're going to find those reviews and the thing that I always find fascinating about those reviews and she is it everybody's different. Everybody has, you know, a different type of experience. Now. They're all good experiences, it seems, by the five star review ratings. But what I mean different is summer investors. Summer single families, you know, still single mom Summer. Just a single person, you know, buying a starter home, others or couples, summer investors and, you know, one of by condo versus a home. And everybody's kind of coming at it from all of these different angles and experiences. But they all kind of reached that same successful conclusion, which is pretty cool.

Speaker 2: Yeah, no, you're exactly right. We definitely work with, you know, all types of people, all different situations. You know, some that you're excited about selling some that are, unfortunately not excited about selling. Maybe they were forced to sell. We have. You know, most time buyers are excited about buying. I would say right, you know, it's not normally a force situation, but yeah, all different. You know, Stiles and types and, you know, scenarios, which is really needed it. I love the situations where you know we have helped someone who is maybe in their fifties, and it's the first time buying a home I love experiences like that actually met with the seller the other day, who he's been in his home for a good 20 plus years, and he has never sold a home That's the on ly home he's ever owned, and so mean with him was like meeting with almost a first time homebuyer, for it is a first time home seller. But you think because he's a tab bit older, you know that he's been down this road before. He hasn't so there's so many different situations that we deal with it, but that's what makes our job fun. And we love that whole experience from start to finish. And what's most important is like you said, You know, in the end, though, we always have just ecstatic, super happy clients, no matter what the situation was, you know, and what was the meaning behind them buying or selling a home?

Speaker 1: Yeah, it's really neat. And if you want to talk to Angie about your situation, if you're looking to buy or sell a home in the near future, you can call or text Angie 919538 64 77 is that number to call or text if you want to see what it's like to work with the Kohl Realty team. 919538 64 77 Again, you're number two called or text, and you've got a new program that we actually rolled out on the show just last week. And you've already received some amazing response to this program. Tell us a bit about the 29 day home sold guarantee that a cool realty now offers.

Speaker 2: Yeah, so exactly just what you said is a 29 day sale guarantee. If we do not get your home sold in 29 days, then a call reality. We will sell your home for free. So you would not be paying the market and fee for us listing and selling your home. So we had, you know, wonderful low. What is what I would say days on the market in 2,019? You know, we have a great trend of having lower the normal averages, and it's because of our amazing marketing plan. You know, everything that we do in order to get home sold. And so, for example, in 2,018 average days on the market for the triangle was 23 days and our team we were at 11. And so we are happy to back that guarantee and say, If we cannot get your home sold in 29 days, we will then sell it for afraid. So if you are thinking about selling your home, you want to talk about that option of, you know, selling your home potentially for free. If we can not get its soul, which I have confidence that I think will will be able to make it happen. But you know, a 29 day sale guarantee. If we can not get your home sold, we will then sell it for free. Just give me a call. My number is 995386477 Of course, you can always text me as well. So once again, my number is 9195386477 If you're interested in selling your home, you want to hear more about our 29 day sale guarantee. Just give me a ring.

Speaker 1: If time is of the essence, this is a great opportunity to take advantage of the home sold guarantee your home sold in 29 days or less, or it's sold for free. Very easy to get in touch with Angie Cole and talk about that opportunity. 919538 60 for 77 Again. You can call or just shoot Auntie A text either way, and she'll be able to respond back to you. And I have that conversation with Thea's Well, 919538 64 77 is the number to learn more about the home sold guarantee and buying and selling your home here in the triangle. As always, more coming up on today's show, this is the savvy real tour with Angie Cole. You. It's

Speaker 2: time for the mail bag we want

Speaker 1: to hear from you, Berta says. I'm trying to do tons of research before I choose a real tour to work with Sell my Home and by my next one I have read lots of online reviews. I've tried to pay attention to which agents in the area have savvy marketing practices, and I've had three friends give me recommendations on agents they trust, but now I'm finding it actually hard to make a decision with all this information. Do you have any suggestions on how I can narrow this down tto one and get off the pot?

Speaker 2: E love, Get off the pot. Okay, so I personally think that if you do three interviews, that's plenty, Okay. But it's very important to make sure that you compare there marketing. They're pricing strategy and then just overall personality fit. You know, there might be two real estate agents that you feel like are the exact. For the most part, they both gave you kind of the same price point they had, you know, comparables to justify that. Their marketing is in line with each other. But, you know, it's really important to make sure that you feel like personality wise. That person is a good fit for you because what I always say is, once you start working with the real estate agent, you're married to them. You really are married to them from the initial conversation through closing. So make sure it's someone that you enjoy working with because you want to make sure that it's ah, fun experience. You know, you want to make sure that they're looking out for you in your best interests, but also it's an enjoyable process for you. But the big thing to me is really marketing. You'll be amazed if you go and you interview two or three agents and you ask them about their marketing plan, the day difference between those market implants. I know our team here. I call reality. Our marketing plan is stellar. I mean, every single time that I sit down with a cellar, they were just like, Wow, you know, when I get done telling my marketing plan, they don't ask him. Hey, what questions do you have? And they say none like you answered him, all right. But I feel like sellers. Oftentimes they're unaware. They are kind of oblivious to understanding everything that a real estate agent should just because they haven't asked those questions. So make sure that you're digging deep and you're truly understanding a marketing plan. Also, make sure, Berta, that you do not go with the agent that gives you the best price. Unfortunately, there are agents in a market that will just give you whatever number you want to hear, so they could put a sign in your yard. You want to make sure that an agent is being honest with you, and they are educating you on the values of your home in your market because agent says, Hey, I consult your home at 200,000 But it's really only worth 1 75 That's an agent that you will just be mad at and the future and ticked off because they wasted your time. So make sure that there's justification behind the pricing, and you have someone who's being honest and real with you.

Speaker 1: It sounds to me Berta, like you have certainly done some good research. And maybe you're finding the reason that you've done so much is because you're finding a couple that you did like. Maybe they all seem a bit equal. And so if they all start to seem a bit equal on the whole, it sounds like you're saying Angie, now just focus on may be the most important thing, and that's the marketing plan and see who rises above you know, the other in that category.

Speaker 2: Yeah, yeah, 100% agree, because, I mean, there's some some agents that would just stick it in them unless they put a sign in the yard and they pretty much pray and hope that it gets sold. But you need an agent that's going to do a lot more than just stick in your home in MLS. So make sure that you're digging deep and understanding the total market and plan and what they will do to drive traffic to your home and get it sold.

Speaker 1: Thanks for the question, Berta. By the way, if you're like Bird and you're thinking about selling your home in the near future, Angie and her team have put together a pretty cool resource that you can use. It's really, really easy to utilize to find out the potential selling price of your home. Find out the potential value of your home if you were to sell it in today's market. Ah, this is a really neat resource that you've put together, Angie, and it's all basically completed with a few clicks of the smartphone button, right?

Speaker 2: Yeah, super, super simple. So if you're thinking about selling your home and you want to get an idea of the value of your home in today's market, you could just text the word listing to the phone number. 555888 So, once again, if you are thinking about selling your home, you want to get an idea of what you could list your home for in today's market. Just text the word listing to the phone number 555888 Make sure, though you do not stop there, because we will send you back attacks. You need to click that Lincoln input your address. So then we know your address, and we can give you an idea of what you could sell your home for in today's market. So once again, on your smartphone, just text the word listing to the phone number. 55588

Speaker 1: That's all you have to do. Just text the word listing. L I s t I N g. Put that in the message and send it to the number 555888 Well, texture Right back. You click on that link, put in your homes info. And just like that, you'll be able to find out that potential value of your home if it were to sell in today's market. Keep in mind is a really cool tool because it uses, you know, the local MLS data, not just the national data to compare your home's pricing. So that's really important. You going to get a more accurate estimate, But remember, it is an estimate. So it's just a kind of a beginning part of the process here to make sure that you are kind of thinking about selling your home at the right price point. Is it in line with sort of your initial expectations? It's a good way to start your fact finding mission. Just text the word listing to the number 555888 I. Angie, we've got another question here from Emily. Emily is in Holly Springs and says, I'm not really a fan of H o Ways homeowners associations. I believe she's referring to. I don't want the same mailboxes, everybody else. And if I want to put up a fence or display something in my yard, I don't want to be too restricted by some ridiculous rules. I guess I'm on leasing the negative of H. Always, however, am I missing out on some great homes?

Speaker 2: Emily, I would say Yes, you are 100% missing out on some wonderful homes that are in our market you need to remember that, I would say, and I feel like I'm on the low and I don't know this number. But at least 75% of homes in the triangle area are probably managed by an H away. And remember, though, H A ways are not always, you know, do super super strict. Every hou and covenants and declarations. There's different rules within a eat, you know, some are super minimal. Some, for example, just say, Hey, we need you to pay $5 per month to help us maintain our common area. You know, beyond that, there are no restrictions. Maybe there's restrictions as faras what could be built in the neighborhood. You know, maybe they only allow single family homes at a minimum of 1,500 square feet, but there's no other restrictions now. On the flip side, there are some neighborhoods where they must have the exact same mailbox. They tell you you know how long you can leave out your garbage cans. They tell you you can not park a work vehicle in the driveway for more than 24 hours, so there are some H aways that are above and beyond a Zafar is particular, but there are a lot of neighborhoods that are still very lenient, even though there is an H await managing. And I want to remember Emily that and h away is not there to dictate or to, you know, just drive you up there. We'll haul and drive you crazy where you feel like you don't have control over your own home that you own. But it's to keep up the values in your neighborhood. You know, the last thing that you want is to have a home, you know, and rape beside you. Your neighbor has an overgrown lawn. They've painted their home Pepto Bismol pink. You know, there's just, you know, five different work are sitting in their driveway because what will happen there is is going to devalue the price of your home. And so once again, and H away is there to protect you and protect the values within the neighbourhood. I wouldn't look at it necessarily as a negative, but you know what? If you do not want to be in a neighborhood where there's an H away, I would say you probably for the most part, can't even be in a subdivision or neighborhood. Once again, most of them do You have some type of governing governing H a way I can get that word out, especially within, like, the city area. So you definitely need to go on the outskirts to find a neighborhood without an H away.

Speaker 1: It's a really good question, though. Emily, thank you for submitting that when a lot of people have different opinions about h o is and what you're allowed to, what you are not allowed to do there. So just kind of see how it fits into your personal preferences, which, you know, sounds like you don't want to be restricted that way. Just know that your neighbors also want restricted in that way. Yeah, so just remember that. Good question, Emily. Let's get one here from Stone Stone in Wake Forest. Awesome name says what is there to know about buying a home as is? I'm looking at one online That doesn't look bad from the pictures, but it comes with this warning in the description. Sold as is what am I missing?

Speaker 2: So, first of all, what are you just said? You love the name and I was about to say that as well. Love the name Stone.

Speaker 1: I played hockey with a kid back in, you know, many, many, many years ago We were kids and his name was Stonewall. And it was just like, what an amazing name for a hockey goalie, Stone.

Speaker 2: Yeah. I mean, that's just like beast mode, right?

Speaker 1: Yeah, it's pretty cool.

Speaker 2: Okay, So stoned. So your question about sold as is first of all, remember that the way that the North Carolina offered a purchase raids is that all homes are actually sold, as is in their current state condition, which I think is very surprising to people because there is the understanding that both parties will be reasonable when it comes to due diligence. Period, you're already under contract. During due diligence, buyers typically will do their negations. They probably order home inspection. Pest her might, you know, maybe, well, septic. And typically then from their buyer and seller, negotiate as faras. The items of cellar is willing to fix or give moneys in lieu of repairs, but it's not a requirement, But I do enjoy when real estate agents will make it clear from the get go. If the seller is or is not willing to do any type of repair. So when you see a listing that states sold as is that is indeed stating that the seller is not going to negotiate into repairs, you know you had the option, of course, always do your investigations and get inspections done. But the seller is making it clear that you know what? I'm not going to be nickeled and dimed on, you know, repair items, the prices with the prices. You know, whatever that agreement is on, and it's up to you if you want to move forward. So just understand that when you're looking at homes that are being sold as is, there might be some surprises along the way once you dig deep into your inspections. But it's still up to the buyer to decide if they want to move forward and go to closing. They just more than likely probably have, you know, some monetary value at risk at that moment, as faras, if they do decide to back out now. Another key point, though even though home is sold as is, does it mean that a seller won't do any temple repairs? I've had some situations that it was unknown to the cellar that, for example, there h back completely went kerplunk. It died, you know, and in order for them to go and realists and sell, of course, that's a material fact that needs to now be disclosed, you know, and they probably won't get that home sold to the next fire unless they do a major price reduction. So I have still negotiated repair items when a home is being sold as is, but it's just understood. Stone again Home is indeed being sold, as is, Seller is not going to do in your repairs so stone. It sounds like you're thinking about buying a home, and we would love to share with you the steps of buying a home from start to finish and so we can pass along what it's called our home buying process in our contract guide. So if you are thinking about buying a home and you want to get the steps from start to finish, we would love to share with you our home buying guide and so you can text the word contract to the phone number by 55888 So once again, just text the word contract to the phone number 555888 To get a copy of our home buying guide,

Speaker 1: that's all you have to do. And it's very useful guy to make sure you understand those different steps of the process. I remember even, Oh, about six years between the purchase of our first home and then the purchase of our second home. We'd forgot a lot of you know what it was all about. The steps of the process start to blur together after awhile, so whether you're a first time homebuyer or you've been through before, but it's been a while good to get a refresher of the different steps in the process when buying a home. If you want to get that homebuying guy that Angie Cold the team in a coal realty have put together for you, you can get that by texting the word contract to the number 555888 again, just text contract to the number 555888 Tabby In night, Dale says, I'm having trouble selling my home and then paying two mortgages right now, so I need to rent out my old house to stop the bleeding, so to speak. Well, having a renter in the home make it tougher to sell.

Speaker 2: You know, Tabby, most of time, yes, Haven't a renter or tenant in the home can make it more difficult. Not all the time, but most of time. Yes, I have seen has been more difficult reason being is I oftentimes see that tenants do not keep the home as clean and tidy as an owner would. They also are really dictating when they allow showings. We actually have one on the market right now where the tenant, unfortunately, has been declining. Probably 1 80 to 90% of this showings that are being requested. So you know, it can really be, you know, tough when it comes to having a home tenant occupied and trying to get it sold. Also, depending on whenever the Lease East is expiring, say it. Several months out is for us when the lease expires. Reminder that it's a requirement for the that lease agreement to extend on through. Even if you sell your home to a new owner, they must fulfill that lease agreement. So at that point, you're only marketing to investors right. So we really cut down the potential buyer pool there. So, you know, is it tougher to get a home sold when it's 10 and occupied? It is. But, you know, on the flip side, some homes are for investment purposes, so actually haven't attended. Occupied could be a plus to an investor, right? Because they don't have to worry about filling, you know the need. So if you're thinking about selling, let's talk through that. I actually just had it over the phone conversation with an investor in our area who had her home 10 and occupied. She's not local, and she wants to go out and sell it over a more spill. And we had that discussion of you know what? In order for me to give some feedback on whether or not you should put your home on the market with it being tenant occupied, I really need to do a quick walk through, so I know, you know. All right, what's the current condition of the home? You know, Are the tenants going to be flexible with showings? And then I could give you feedback on whether or not I think that scenario would work But if it doesn't work, what I would suggest doing is you know, we can line up for your home to go live and on the market within. You know, a week of After the tenant moves out, we can run with it. And remember, we also have our 29 day sale guarantee that will protect you as well. I understand Paying two mortgages is tough. So once again, if we do not get your home sold in 29 days, we will then sell it for free for you. So you don't have to worry about those additional costs that you potentially could risk with your homes in on the market. For a long time,

Speaker 1: you've been listening to the savvy real tour podcast on Walter Store Hold alongside Angie Cole. She's the owner and broker in charge of a coal realty here in the triangle. And if you have questions for Angie, Wei invites you to go online to a coal realty dot com, listen to pass podcast episodes on the website, read the block and all the great information, including the option to find a home right there on the website That's a coal realty dot com, and you can also call Angie with your questions. 919578 31 28