Author Archives: radio

REY’S REAL ESTATE RECOMMENDATION

By Rey Post, Associate Broker, Sotheby’s International Realty & Host of the “All Things Real Estate” Radio Show 

February 18, 2018

As we approach President’s Day, “Rey’s Real Estate Recommendation” is to think about how you can bring leadership and inspiration to your own work and personal life.

I recently read that the value of leadership in the practice of real estate is in reality becoming the very best version of one’s self. It is recognizing that—no matter how successful one becomes—becoming an even better leader requires a degree of added studying, reading, learning, asking for support and seeking wisdom at all times.

These principles apply to just about everything in our lives and I am trying to embrace them for use in my own daily experiences. Perhaps they can be valuable to you as well.

In the spirit of President’s Day, perhaps the words of John Quincy Adams—an American diplomat, minister, United States Senator, U.S. Representative and the sixth President of the United States from 1825 to 1829—can bring us some inspiration for the way we lead our own lives:

“If your actions inspire others to dream more, learn more, do more and become more—you are a leader.”

For more on “Rey’s Real Estate Recommendation,” and also to pick up additional real estate news and information, join us each Sundayon the “All Things Real Estate” radio show (12-2pm Mountain Time) on Santa Fe’s 1260 KTRC-AM, or via streaming at the “Listen Now” link at ATREradio.com.

REY’S REAL ESTATE RECOMMENDATION – Feb. 11 2018

By Rey Post, Associate Broker, Sotheby’s International Realty & Host of the “All Things Real Estate” Radio Show 

February 11, 2018

As we approach Valentine’s Day, “Rey’s Real Estate Recommendation” is to think about maybe bringing a bit of added warmth, tenderness and kind-heartedness to the home buying, or selling experience you may be involved in this month.

We all know that purchasing a home is probably the largest expenditure that a consumer will most likely have in their life. With that reality—and with the complications associated with the process—both buyers and sellers can naturally realize some added tension and anticipation as they make their way to the day of closing on the sale.

All the more reason to consider applying some “year-round” Valentine’s Day affection to the role that you play in your own home buying and selling experience. This is also a philosophy that perhaps could be embraced by real estate professionals, all of whom work very hard to bring any home buying/selling transaction to a successful conclusion. It isn’t easy for all parties involved, which means that bringing a bit of extra care and regard to the process can go a long way to calming the situation.

For more on “Rey’s Real Estate Recommendation,” and also to pick up additional real estate news and information, join us each Sunday on the “All Things Real Estate” radio show (12-2pm Mountain Time) on Santa Fe’s 1260 KTRC-AM, or via streaming at the “Listen Now” link at ATREradio.com.

REY’S REAL ESTATE RECOMMENDATION – Jan 28 2018

REY’S     REAL   ESTATE   RECOMMENDATION” 

By Rey Post, Associate Broker, Sotheby’s International Realty & Host of the “All Things Real Estate” Radio Show

 January 28, 2018

Each week in the New Year, I will offer you a new recommendation that is designed to make your home buying, or selling experience a bit easier.

This coming week, I have some thoughts to share with home sellers that may address a question that many of them encounter after their real estate broker, or agent lists their home for sale on a multiple list system: “Why Your Home Isn’t Selling.”

Now the answer to this question varies from region-to-region in the country—based on, among other things, the circumstances of your local real estate market—but there are usually some standard reasons why you, as a seller, may be experiencing some challenges in finding that perfect buyer who will present you with an offer on your home.

Here are some of the reasons—per a useful article in RisMedia’s Housecall blog—that you may wish to review to see if they apply to your own circumstances:

1)   You overvalued your property. Put simply, if your house is overpriced—based on other sales in your immediate neighborhood—it is not going to sell. Your real estate broker, or agent should be helpful in guiding you in a price that will attract buyers. Also, don’t add the cost of any renovations you may have made to the house…these costs don’t automatically translate to added value.

2)   You’re always present at showings. Let your broker, or agent handle showings. Buyers don’t want an owner lurking over their shoulder during showings—or even open houses—since it puts unwanted pressure on them and could make them so uncomfortable, they will be chased away from considering the attributes of the property.

3)   You haven’t either staged your home, and/or you have kept too much of your personal décor, or the home is way too cluttered. Don’t leave a house you wish to sale totally empty, since it makes it hard for buyers to imagine living there. Hire a professional stagger to outfit at least the main rooms in the home with furniture to give buyers a sense of what living there would feel like. At the same time, buyers can quickly get uncomfortable when touring a home and see all of your family pictures—that too makes it hard for them to see how they can live in the house. Lastly, if you have too much of your own furniture and personal items in the house, it will make it seem smaller and also will not help buyers move easily around the home during tours.

These are just some of the reasons why your home may not be selling. I will offer you additional feedback on this topic in upcoming “Rey’s Real Estate Recommendations.”

Also, learn more about this topic and also pick up additional news by joining us each Sunday on the “All Things Real Estate” radio show (12-2pm Mountain Time) on Santa Fe’s 1260 KTRC-AM, or via streaming at the “Listen Now” link at ATREradio.com.

REY’S REAL ESTATE RECOMMENDATION 12-22-2017

REY’S     REAL   ESTATE   RECOMMENDATION

By Rey Post, Associate Broker, Sotheby’s International Realty
& Host of the “All Things Real Estate” Radio Show 

December 22, 2017

Tax reform legislation passed by the U.S. House and Senate has been signed into law by President Trump.

As I have written before, there are many elements of this new law that impact current and future homeowners. All individual provisions of the measure are generally effective after December 31, 2017 for the 2018 tax filing year and expire on December 31, 2025 unless otherwise noted. The provisions do not affect tax filings for 2017 unless noted.

To read an analysis by the National Association of Realtors (NAR)—and how the legislation impacts individual homeowners—please go to https://www.nar.realtor/taxes/tax-reform/the-tax-cuts-and-jobs-act-what-it-means-for-homeowners-and-real-estate-professionals

NAR advises that the organization will be providing ongoing updates and guidance to its Realtor members in the coming weeks, as well as working with Congress and the White House to address additional concerns through future legislation and rulemaking. Congressional lawmakers have already signaled a desire to fine tune elements of the “Tax Cuts and Jobs Act” as well as address additional tax provisions not included in this legislation in 2018, and REALTORS® will need to continue to be engaged in the process.

I will continue to update you on these future actions and to learn more about this topic and also pick up additional news, join us each Sunday on the “All Things Real Estate” radio show (12-2pm Mountain Time) on Santa Fe’s 1260 KTRC-AM, or via streaming at the “Listen Now” link at ATREradio.com.

REY’S REAL ESTATE RECOMMENDATION 12-17-2017

REY’S     REAL   ESTATE   RECOMMENDATION

By Rey Post, Associate Broker, Sotheby’s International Realty
& Host of the “All Things Real Estate” Radio Show
 

December 17, 2017

U.S. House and Senate members of a combined Conference Committee have just passed a revised version of the tax reform legislation they have been considering for a few weeks. Next week, it is likely that Congress will pass this measure and then send it to the President for signing into law.

There are many elements of this legislation that impact current and future homeowners, which—as National Association of Realtors President Elizabeth Meddenhall states—poses problems for homeowners and the broader housing market. There are some elements to the bill that will benefit some homeowners and communities, including capital gains on the sale of a home, as well as keeping some mortgage interest and state and local tax deductions.

To understand how this legislation—which will most likely become law—impacts you as a homeowner, here is a link to an article in the Washington Post that helps explain provisions of the measure:

https://www.washingtonpost.com/news/wonk/wp/2017/12/15/the-final-gop-tax-bill-is-complete-heres-what-is-in-it/?utm_term=.0df2c330f051

Learn more about this topic and also pick up additional news by joining us each Sunday on the “All Things Real Estate” radio show (12-2pm Mountain Time) on Santa Fe’s 1260 KTRC-AM, or via streaming at the “Listen Now” link at ATREradio.com.

Rey’s Real Estate Recommendation December 4 2017

“Rey’s Real Estate Recommendation”

December 4, 2017

To continue on a message I have been delivering for several weeks, early in the morning of December 1st, the U.S. Senate passed tax reform legislation that the National Association of Realtors® believes puts home values at risk, and dramatically undercuts the incentive to own a home.

NAR President Elizabeth Mendenhall, offered strong concerns over the bill and said Realtors® will continue to work with members of the House and Senate as the process moves forward into a conference committee between both bodies of the U.S. Congress.

As Mendenhall stated, “Tax incentives to own a home are baked into the overall value of homes in every state and territory across the country. When those incentives are nullified in the way this bill provides, our estimates show that home values stand to fall by an average of more than 10 percent, and even greater in high-cost areas.

Mendenhall further noted that, “Realtors® support tax cuts when done in a fiscally responsible way; while there are some winners in this legislation, millions of middle-class homeowners would see very limited benefits, and many will even see a tax increase. In exchange for that, they’ll also see much or all of their home equity evaporates as $1.5 trillion is added to the national debt and piled onto the backs of their children and grandchildren.

Mendenhall finally observed that, “This legislation is a poor foot to put forward, but this isn’t the end of the road. Realtors® will continue to advocate for homeownership and hope members of the House and Senate will listen to the concerns of America’s 75 million homeowners as the tax reform discussion continues.”

As a member of the National Association of Realtors®—America’s largest trade association, representing 1.3 million professionals—I am using the “All Things Real Estate” (ATRE) radio show to share my views on this major legislation that is currently before our Congress. It is important that all homeowners, and those who wish to own a home, understand the implications of this legislation being passed and then sent to the President for his signature into law.

For anyone who is concerned about the direction this potential law could take us, NOW is the time to share your own views with your Congressman, as well as your two U.S. Senators. Call 1-202-224-3121, (repeat), to get the ball running.

REY’S REAL ESTATE RECOMMENDATION NOVEMBER 19, 2017


REY’S   REAL   ESTATE    RECOMMENDATION

NOVEMBER 19, 2017

By Rey Post, Associate Broker of Sotheby’s International Realty & Host of the “All Things Real Estate” Radio Show

For this week,   I am continuing a theme I have discussed recently on a couple of occasions during airings of the “All Things real Estate” radio show (Go To the “Listen Now” link at ATRradio.com on Sundays, 12-2pm Mountain Time).

Since our show is heard all over the country, I strongly urge all homeowners — no matter where you live — to contact your two U.S. Senators about the Tax Cut and Jobs Act that was just passed by the U.S. House of Representatives.

The House bill threatens homeowners with a loss of tax incentives and a reduction in home values.  The bill would reduce the value of the mortgage interest deduction, eliminate the deduction for state and local taxes, and cap the property tax deduction — increasing taxes for many homeowners.

Eliminating the state and local property tax deduction and changes to the capital gains exemption, will increase taxes now and when a home is sold. These incentives are critical for a strong housing market, that creates jobs and builds stable communities.

The bill now goes to the U.S. Senate for consideration,   where a different version of the legislation has also been drafted.  It’s likely that action by the U.S. Senate will occur after the Thanksgiving holiday, with differences between the House and Senate bills, being pursued in early December.

So now is the time to share your own views about this legislation  with those who represent you in Congress.  If you own a home, or wish to do so, the potential outcome of what is finally passed into law and then signed by the President, could impact you significantly.

 

REY’S REAL ESTATE RECOMMENDATION October 22 2017   

By Rey Post, Associate Broker, Sotheby’s International Realty & Host of the “All Things Real Estate” Radio Show

October 22, 2017

Last week I suggested some thoughts about issues associated with selling a home. Today, I want to go to the other side of the equation and speak to what may be on the minds of people when they are contemplating the purchase of a home.

An article in realtor.com offers some great advice about addressing top concerns that you may have as a new home buyer. This counsel might help you get past some home-buying fears and bring you closer to realizing the American Dream of home ownership.

Fear No. 1: ‘I’m afraid I can’t afford a home’

Some house hunters are possessed by worries that their entire savings account will get sucked into a black hole if they buy. Then they’ll never be able to afford vacations, or new clothes, or food beyond beans and rice or mac ‘n cheese ever again.

The reality: Depending on what and where you’re buying, you’re not likely to drain your savings account. There are many loan programs out there that can help first-time home buyers with down payment assistance, or that don’t require a severed arm and leg in order to get a mortgage.

The best way to determine how financially ready you are to buy a home is to talk to a loan officer, like my friend Scott Robinson, the Santa Fe Branch Manager at the Gateway Mortgage Group (go to: gatewayloan.com/branches/santa-fe-nm/). Alternatively, you can also enter your income, debts, and other info in realtor.com®’s home affordability calculator to see exactly how much you can afford to spend on a home without going broke.

Fear No. 2: ‘I’m worried I won’t be able to buy a home I actually like’

The current economic climate may lead some buyers to believe that buying means they’ll end up living in a version of a “Saw” movie set—a windowless pit with exposed plumbing. Fact is, interest rates are low, allowing homeowners to snag a great deal and pay less over the course of their loan. Now the inventory of homes remains at a low level in Santa Fe—and in most areas around the country—so searching for the right home will take some time and energy. And if you see something you really like, make sure you are ready to move on making an offer, since there are probably several people thinking the same thing at the same moment.

Fear No. 3: ‘What if I buy a money pit?’

We’ve all seen that movie of the same name where Tom Hanks’s life and bank account are shredded, thanks to a rapidly disintegrating old house. But hey, that’s just a movie—most houses aren’t money pits, and even if there are potential issues lurking in the shadows, like a leaking pipe, you can do plenty to protect yourself. Before the sale, hire a good home inspector, like Jeff Brown of WIN Home Inspection (go to: santafe.wini.com). Jeff will be able to see signs of water damage, or any electrical and plumbing red flags. A home inspector will also advise you on potential repair costs, which can provide leverage for you as you go through a transaction with the sellers of the home. Next week, I am working with Jeff Brown on a home inspection here in Santa Fe for buyer clients of mine from California. They can’t attend the inspection, but Jeff offers a terrific service of electronically summarizing what he sees at any house he inspects, including pictures of potential problems.

Fear No. 4: ‘I’m worried I’ll overspend’

The asking price for a house may seem like an unholy amount of money. But keep in mind, that’s just what the sellers are asking for—what they get could be a totally different picture. Any good Realtor can help guide you to a realistic offer. A good broker will know the price points of the areas you’re targeting and can back them up with historical data and comps. Since you can search the prices of homes that recently sold in any area, it’s easier to find out what the neighbors paid and gain better insight before you place an offer.

Fear No. 5: ‘It’s just safer to rent’

Sure, renting means you aren’t trapped in one place, as you are with homeownership. Yet rent money disappears without allowing you to build any equity over time. In fact, by paying about $100 a month more, many renters could actually own their own home—and receive tax deductions. If in doubt, use a rent vs. buy calculator (find it at realtor.com) to crunch the numbers and see whether it’s renting, or buying that wins out in your area.

Learn more about this topic and also pick up additional news by joining us each Sunday on the “All Things Real Estate” radio show (12-2pm Mountain Time) on Santa Fe’s 1260 KTRC-AM, or via streaming at the “Listen Now” link at ATREradio.com.

REY’S REAL ESTATE RECOMMENDATION October 15, 2017

REY’S     REAL   ESTATE   RECOMMENDATION” 

By Rey Post, Associate Broker, Sotheby’s International Realty & Host of the “All Things Real Estate” Radio Show

 October 15, 2017

Those who wish to sell a home in this fall season, carefully consider a suggestions that my friends at the National Association of Realtors and I agree upon.

#1, your home décor isn’t always perfect for selling. Remember that while your home may be beautifully decorated, it still looks like your home, not the buyer’s.    Clutter, in particular, can make a home feel cramped and buyers will be distracted by too many personal items, as well as the need to negotiate around furniture to see your home.

#2, sellers need to disclose any problems with the property, like a broken air    conditioner, leaky faucets, water damage, or pest infestation. Don’t keep any of     your home’s flaws from your broker because you are scared it might hurt your sale. The listing broker is always on the homeowner’s side, but he or she must be aware    of what needs to be fixed, or what could become an issue in a transaction going     forward. Besides, a buyer who does a home inspection as part of any purchase, is   probably going to discover these problems anyway.

#3, remodeling doesn’t guarantee a price uptick. While remodeling projects may enhance a property, the projects homeowners take on are never a guarantee of payback at the time of resale. It is pretty standard that the payback will greatly depend on what type of home improvement was completed. Ask your real estate broker what improvements in our community seem to have a positive impact on home appreciation.

And #4, be ready to fix some things. Sellers may have to spend a few bucks to get their home ready to sell. For example, they may need to replace the trim the dogs scratched up, or clean the scuff marks off the walls, power-wash dirt off of sidewalks, repair damaged driveways, or put some new paint on interior or exterior parts of the house. Of course, to you, it’s totally normal because you’ve lived with these issues for years. But to buyers, these will look like expensive repairs, which means they may lowball you on an offer, or not make an offer at all, because your house is perceived to ‘need a lot of work.’ Remember—perception is reality, even when selling a home.

If you are a home seller and you consider these recommendations, you may see     an enhancement in the dollar value of an offer that a buyer makes on your property.

Learn more about this topic and also pick up additional news by joining us each Sunday on the “All Things Real Estate” radio show (12-2pm Mountain Time) on Santa Fe’s 1260 KTRC-AM, or via streaming at the “Listen Now” link at ATREradio.com.

Thank you!

Rey Post
Associate Broker
Sotheby’s International Realty
Santa Fe, NM

Rey’s Real Estate Recommendation

By, Rey Post, Associate Broker, Sotheby’s International Realty & Host of the “All Things Real Estate” Radio Show

September 29, 2017

Today, I recommend that those who wish to buy, or sell a home carefully follow developments over the coming weeks that relate to the tax reform plan just issued by the Trump Administration and a small group of U.S. House and Senate members.

Though details are still being worked out, some of the proposed elements to the plan—as the National Association of Realtors has stated—have the potential for effectively challenging, or erasing incentives for homeowners.

Specifically, both the doubling of the standard deduction and the elimination of local and state tax deductions, along with any change in the current mortgage interest deduction—if you bought a home using a loan—could inhibit the homeownership rate.

My recommendation is—if own a home, or wish to buy one—contact your Congressperson and U.S. Senators to express your views.   

Put simply: Given the importance that buying and selling real estate plays in our economy, whateverCongress prepares in tax reform legislation that is then sent to the President for him to review and eventually sign into law, will have a significant impact on your life.

Follow the news on this issue and also join us each Sunday at the “All Things Real Estate” radio show (12-2pm Mountain Time on Santa Fe’s 1260 KTRC AM, or via streaming at the “Listen Now” link at ATREradio.com).