Guests: Kieth HobartSummaryIn this conversation, Joe and Keith Hobart from Peak Mortgage discuss the concept of home equity, how to calculate it, and the various options available for leveraging it, such as home equity loans and lines of credit. They explore the benefits and risks associated with borrowing against home equity, including the impact on monthly mortgage payments and the importance of understanding debt-to-income ratios. The discussion emphasizes the need for responsible borrowing and the significance of educating clients about their options and potential consequences.TakeawaysHome equity is the difference between what you owe and your home's value.Home improvements can provide the best return on investment.Cash out refinancing involves refinancing the entire mortgage.HELOCs allow for flexible borrowing against home equity.Interest-only payments can lead to higher long-term costs.Understanding debt-to-income ratios is crucial for eligibility.Market conditions can affect the availability of HELOCs.Education is key to making informed borrowing decisions.Borrowing too much can lead to financial strain.Consulting with a mortgage expert is essential for personalized advice.Thank you for listening to RealTalk! Don’t forget to like and subscribe, and follow Joe on Instagram (@seattlesagent) for the latest videos. And don’t forget to check out The Seattle Experience with Joe Sheldon podcast on YouTube or your favorite podcast app. For more information about Joe, or to work with Joe, visit www.myseattlesearch.com.

Guest: Chris SandersSummaryIn this conversation, Joe and Chris discuss the complexities of selling a home 'as is'. They explore the misconceptions surrounding the term, the lack of formal recognition in real estate, and the potential negative implications for sellers. The discussion covers pricing strategies, the impact on negotiations, and buyer expectations, emphasizing the importance of a nuanced approach to selling homes that may require repairs or renovations.TakeawaysThere is no formal status for 'as is' in real estate.Listing a home as 'as is' can signal insecurity to buyers.Selling 'as is' generally offers no advantages in a competitive market.Pricing should reflect the home's condition and market comparables.The buyer pool narrows significantly for homes needing major repairs.Negotiations can be more challenging for 'as is' properties.Buyers may have mixed expectations when seeing 'as is' listings.Offering credits for repairs may not always be effective.A strategic approach is essential when selling a home.Sellers should avoid discounting their property from the start.Thank you for listening to RealTalk! Don’t forget to like and subscribe, and follow Joe on Instagram (@seattlesagent) for the latest videos. And don’t forget to check out The Seattle Experience with Joe Sheldon podcast on YouTube or your favorite podcast app. For more information about Joe, or to work with Joe, visit www.myseattlesearch.com.

Guests: Casey Oiness and Colin TippSummaryIn this conversation, Joe, Casey Oynes, and Colin Tip discuss Private Mortgage Insurance (PMI), its implications for homeowners, and the processes involved in removing it. They explore the differences between conventional and FHA loans, the importance of tracking mortgage insurance, and the refinancing options available to homeowners. The discussion emphasizes the need for homeowners to stay informed about their mortgage insurance status and the potential benefits of refinancing as market conditions change.TakeawaysPMI is a monthly payment for loans with less than 20% down payment.The amount of PMI decreases as the down payment increases.Homeowners can request PMI removal at 80% loan-to-value (LTV).Refinancing can be a way to remove PMI if equity has increased.FHA loans have different PMI rules compared to conventional loans.Tracking property values can help homeowners manage PMI effectively.Good credit scores can lead to lower PMI rates.Annual loan reviews can help clients stay informed about their mortgage status.Servicing loans directly can provide better long-term support for clients.Market conditions can influence the decision to refinance.Thank you for listening to RealTalk! Don’t forget to like and subscribe, and follow Joe on Instagram (@seattlesagent) for the latest videos. And don’t forget to check out The Seattle Experience with Joe Sheldon podcast on YouTube or your favorite podcast app. For more information about Joe, or to work with Joe, visit www.myseattlesearch.com.