If you are looking to buy or sell a home, get all the information and the latest updates, tips, and tricks from Burch and Co. Real Estate - your professional Jonesboro Real Estate Agents.
Jonesboro Real Estate Video Blog with Eric Burch
Claim This Podcastby Eric Burch
9 episodes
Updated Daily
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Podcast Overview
If you are looking to buy or sell a home, get all the information and the latest updates, tips, and tricks from Burch and Co. Real Estate - your professional Jonesboro Real Estate Agents.
Language
🇺🇲
Publishing Since
10/6/2020
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Recent Episodes
February 3, 2022
My Advice for Homebuyers in Today’s Market
Here’s a great example of why you should buy a home sooner than later. Buying a Jonesboro home? Get a Full Home Search Selling your Jonesboro home? Get a Free Home Price Evaluation Does it make sense to buy in today’s market? I’ve been hearing this question a lot lately, and I wanted to offer insight into why my answer is a resounding, “Yes!” I recently saw a colleague of mine post about a house they sold in 2012 for $360,000; it’s a gorgeous home. The exact same house, with just a few updates, just sold for $692,000. That’s $330,000 worth of appreciation in just about 10 years. Now, the home didn’t increase in value by $30,000 every year. In the last few years, home prices have grown exponentially. Most of that value came within the last 12 to 18 months. The house might have gone from $450,000 to $692,000 during that time. I didn’t see this coming, and I don’t think anyone in their right mind would have thought the real estate market would be rebounding like this amidst a global pandemic. "In the last few years, home prices have grown exponentially." So does it make sense to buy in this market? Absolutely; real estate is a fantastic long-term investment. I guarantee that $692,000 home is going to sell for over a million dollars one day. The question is, do you want to be involved in a great investment like that? If you have any real estate-related questions for me, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.
January 20, 2022
Zillow Made a Mistake Buying Homes
Here’s why Zillow shuttered their home-buying program at the end of 2021 Something happened at the end of 2021 that you might not have heard about. Many people visit one platform when they look for available properties. The name of that platform is Zillow, and for the last few years, they have been not only marketing homes but also buying them. Zillow would make an offer on a property without seeing it, close that transaction, and send someone out to renovate it. They were buying and rehabbing houses all over the country, but at the end of 2021, they shut down that program. At the end of the day, nothing can replace a seasoned agent. It’s funny because clients used to bring up Zillow’s estimate at listing appointments. To me, those numbers felt like they were as much as 25% over or 35% below the actual price. It was interesting when Zillow announced that they would start buying properties based on these estimates. After a couple of years of trying this, it turns out Zillow was losing money on almost every house they bought. They obviously hadn’t gone the right way with their algorithm. At the end of the day, nothing can replace a seasoned agent who knows the market, lives in the area, and works in it every day. On top of that, every market is different, and every market changes. It can depend on what’s in the newspaper that day or what announcements were recently made. There are just too many pieces for an algorithm to put it all together. It was interesting to see if Zillow could succeed, but they couldn’t, and that’s why you still need to depend on your local experts. If you have any questions, or if you truly want to know what your home is worth, please call or email me. I’d be happy to do a home valuation for you. Buying a Jonesboro home? Get a Full Home Search Selling your Jonesboro home? Get a Free Home Price Evaluation
June 21, 2021
We’re Seeing More Low Appraisals Lately
My experiences with appraisals not meeting the contract price. Buying a Jonesboro home? Get a Full Home Search Selling your Jonesboro home? Get a Free Home Price Evaluation When you sell your house and the appraisal does not meet the contract price, what do you do? This has happened to me two or three times in the last month, despite only happening to me five other times in the last 16 years. For it to happen three times in the last month is a big deal. The great news was that I still closed all three transactions. One of the properties sold for around $195,000, although the appraisal came in at $185,000. The seller actually purchased that home from us two years before the close date for $150,000, so they made quite a bit of money. When the appraisal came in $10,000 under, we went back, renegotiated the contract, and ended up only moving about $5,000 total. I had another deal that came in $40,000 under the appraised value. I called the buyer and asked them how they would like to handle it. They said, “We love the house and we want it. We really don't care what the appraisal says. We have the funds to pay the difference.” So we went to closing with an appraisal lower than the contract price and the buyer was still thrilled with the transaction. "These are the kind of sticky situations that you run into when selling your house." Those were two great situations for the buyer and the seller. Everybody was happy, but what happens if the appraisal comes in under contract price and the buyer doesn't want to move forward? You have a couple of other options. In today's market, I'd be fine with that happening if it was my property. I would put it right back on the market and probably sell it for a little bit more depending on what was going on in your area. These are the kind of sticky situations that you can run into when selling your house. I've seen more people out there sell their house as a FSBO listing during these times because they think it’s going to be incredibly easy in a seller’s market. It's one thing to sell a house, but it's another thing entirely to close the house. When it comes to buying and selling homes, our team's here for you. We’ve closed over 3,000 transactions in the last 16 years, and we’ll do whatever it takes to make sure you're taken care of. If you’re looking to buy or sell a home, don’t hesitate to reach out to us. We'll be happy to help you.
9 total episodes available
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- What is Jonesboro Real Estate Video Blog with Eric Burch?
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This podcast updates daily.
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This podcast is available on 4 platforms including Apple Podcasts, Spotify, and more. You can also use the RSS feed directly.
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