In Episode 11 of Intelligent Equity Podcast, host Ryan Kiefer talks with Terry Hankner, President of Comey & Shepherd Realtors. They tackle issues surrounding home ownership and then discuss the challenges buyers and sellers are facing in the current market environment.
Episode Highlights:
- Terry Hankner has been licensed since 1978. She started her career in education.
- Most of real estate is really about teaching. It’s sharing information and letting people know all of their options.
- Should everyone own a home?
- Hankner thinks that not everyone should own a home but there are great reasons to become a homeowner.
- Reasons to become a homeowner include personal satisfaction, control of your own environment, the fact that real estate is a good investment, and tax advantages.
- Inventory awareness is currently a problem for sellers. Sellers need to be locally aware.
- The best way to understand your local market is to talk to a good realtor who can provide you with statistical data and tell you the truth about your property.
- Put your house in really good condition as a seller. Consider a pre-listing inspection.
- Tell your sellers to dust off their water heaters.
- Mortgage Minute: If you happen to be a move-up buyer, you’re in a perfect position because of the increased purchasing power that comes with interest rates near historic lows.
- If you’ve been thinking about moving up, now’s the time.
- The challenge for buyers in the current market is also inventory related. There are not as many homes on the market as there usually are.
- If you’re a buyer, get pre-qualified financially and have a heart-to-heart discussion about needs and wants.
- Buyers need to be ready to do something when a house that meets their criteria comes up.
- The only really slow time for the industry can be between Thanksgiving and the new year. Spring begins on January 2nd.
- The cyclical nature of real estate is much more tied to favorable interest rates and market conditions than it is to the weather.
3 Key Points:
- Sellers should increase their awareness of local inventory.
- Buyers can prepare themselves so they’re ready to take action when a house that meets their criteria goes on the market.
- The cyclical nature of real estate is tied more to market conditions than to the time of year.
Resources Mentioned:
- Ryan Kiefer: LinkedIn, Facebook, Website
- Terry Hankner Facebook, LinkedIn
- Comey & Shepherd Realtors