22 episodes

If you are looking to buy or sell a home, get all the information and the latest updates, tips, and tricks from Kevin Smith - your professional California Real Estate Agent.

Kevin Smith Real Estate Podcast Kevin Smith

    • Education

If you are looking to buy or sell a home, get all the information and the latest updates, tips, and tricks from Kevin Smith - your professional California Real Estate Agent.

    • video
    Why Are So Many People Moving?

    Why Are So Many People Moving?

    More and more homebuyers are moving across the country. Here’s why. Buying a home? Click here to perform a full home search Click here to search our new construction homes.Selling a home? Click here for a FREE Home Price Evaluation  Check out and subscribe to my YouTube channel! What’s behind the increased migration of homebuyers across the country? Since the COVID-19 pandemic began, many companies have realized they don’t need all of their employees coming in to work, which has convinced them to either close down their offices or move their offices to less expensive states. Similarly, many employees have realized that they don’t need to live in major metropolitan cities and are now moving to the suburbs or other less expensive areas. According to a recent poll, roughly 67% of employees across American claim they don’t have to go into work as much as usual. Those who’ve been renting in the big cities can now afford to buy a home in the suburbs, a rural area, or even another state due to the low interest rates we’re seeing. National Van Lines, Inc. recently conducted a migration survey and found that these are the top five states from which people are moving: New JerseyIllinoisConnecticutNew YorkKansas Meanwhile, these are the top five states people are moving to: VermontOregonIdahoNevada Arizona There could be a variety of reasons behind these migration patterns. Here in California, for example, we have a high tax bracket and a high income tax, so many businesses and residents are leaving. Additionally, our average home price is about $500,000, which is twice as expensive as any other state in the union. The average yearly salary needed to live in San Francisco alone is roughly $350,000. If you’d like to talk more about what’s driving people to relocate or whether or not it’s in your best interest to do so, feel free to call or email me anytime. I’d love to help.

    • video
    When Does Offering Over List Price Make Sense?

    When Does Offering Over List Price Make Sense?

    Here’s a tool from our pal Dave that can help buyers make better decisions. Buying a home? Click here to perform a full home search Click here to search our new construction homes.Selling a home? Click here for a FREE Home Price Evaluation  Check out and subscribe to my YouTube channel! I’m back once again with my good friend Dave Marzinke from Movement Mortgage to talk about a topic that’s been coming up a lot in my conversations. With a lot of homebuyers facing multiple-offer situations, people are unsure whether or not they should make an offer over list price just to get the home they want. The answer is that it all depends, but we have a tool that can help you make a decision. It doesn’t always make sense to make an offer over list price. It’s essentially an online automated valuation model that gives a forecasted home appreciation for a particular home over the next 12 months and over the next five years. In some cases, it may make sense to go in and make an offer over list price based on a great future forecast. Over the long term, it could be a great move. If you have any questions or want a better idea of whether a home is worth buying over list price, reach out to Dave at (949) 449-2477. If you have any other real estate-related questions for me, don’t hesitate to reach out via phone or email anytime. We look forward to hearing from you soon.

    • video
    Does the Federal Funds Rate Affect Interest Rates?

    Does the Federal Funds Rate Affect Interest Rates?

    Dave Marzinke joined me recently to break down the latest mortgage news. Buying a home? Click here to perform a full home search Click here to search our new construction homes.Selling a home? Click here for a FREE Home Price Evaluation  Check out and subscribe to my YouTube channel! I’m back again with Dave Marzinke from Movement Mortgage to talk about what’s going on right now in the mortgage industry. A few weeks back, the Federal Reserve announced that they were going to keep the federal funds rate at 0% through 2023. Most buyers hear that and think it will keep rates down for another two years, but that might not be the case. The truth is that mortgage-backed securities are a completely different instrument than the federal funds rate. The federal funds rate can be set by the Federal Reserve and they can change it whenever they want. Mortgage rates themselves are affected by mortgage bonds, which are affected by inflation. When we start to see signs of inflation, that can push rates back up even if the federal funds rate is zero.       Mortgage-bonds affect rates more than anything else. If you have a decent credit score, good income, and a solid debt-to-income ratio, you’re looking at an interest rate of 2.75% to 3% for a conventional mortgage if you were to buy a home right now. It makes a ton of sense to buy and lock in that rate for a 15- or 30-year term. If you have any questions for Dave about interest rates or anything else related to mortgages, give him a call at (949) 449-2477. If you have any other real estate-related questions for me, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.

    • video
    What Things Differentiate Zillow and Redfin?

    What Things Differentiate Zillow and Redfin?

    Here are basic the differences between Redfin and Zillow you should know. Buying a home? Click here to perform a full home search Click here to search our new construction homes.Selling a home? Click here for a FREE Home Price Evaluation  Check out and subscribe to my YouTube channel! Usually, one of the first times I’ll ever hear from someone is when they call wanting to know the value of their home. More often than not, these soon-to-be sellers mention estimates they got from Redfin and Zillow; they want to make sure they’re looking at the most accurate comps and that they know what’s been happening in their market over the past 30, 60, or 90 days. The main difference between Zillow and Redfin is that Redfin works with a smaller number of homes—about 74 million compared to Zillow’s 110 million. However, of the 74 million homes that Redfin uses, one million are actually active on the market. Zillow may have a larger total pool of homes, but a smaller percentage of those homes are active on the market. Redfin takes most of their listings right from the MLS. Additionally, Redfin factors in the list price of properties on the market, whereas Zillow does not. Instead, Zillow will use the square footage, room count, and general tax information to figure out an average of sorts. Redfin takes most of their listings right from the MLS, which is the most accurate source. Their margin of error for estimates of value is roughly 1.77%, which is very low compared to Zillow; a couple of years ago, Zillows margin of error was around 7.9%, but they’ve managed to get that down to 4%. Redfin and Zillow are great tools to use if you’re looking for a place to start, but I strongly recommend reaching out to a professional who has a lot of experience working with your local marketplace. If you have any questions about your particular property, don’t hesitate to call, text, or email me. I’d be more than happy to help you.

    • video
    Buyer Closing Costs

    Buyer Closing Costs

    These are the closing costs buyers need to be aware of when purchasing. Buying a home? Click here to perform a full home search Click here to search our new construction homes.Selling a home? Click here for a FREE Home Price Evaluation  Check out and subscribe to my YouTube channel! As a buyer, closing costs are a part of doing business when closing a transaction. Here are six such fees to prepare for when buying a home: 1. Title fees. Here in California, title representatives will conduct a background check to ensure the property is clear of any liens or other encumbrances, so they’ll have their own fees. How much this will cost you depends on the price of your home, but if you’re getting a loan for, say, $465,000, it will be in the neighborhood of $1,400. 2. Escrow fees. If you buy in California, escrow companies will cover all the documentation and act as middlemen between you and the seller. Typically, they account for 1% of the purchase price. These fees can include notary fees, so if you’re able to go to your agent’s office to sign any paperwork, you can reduce the cost of this fee. 3. Home inspection fees. You don’t have to order any inspections, but it’s highly recommended that you do. A general home inspection costs anywhere between $400 and $600—depending on whether the property is a condo or house.  There are six fees to prepare for when buying a home. 4. Lender fees. The exact cost for this fee depends on which loan you apply for—FHA, conventional, jumbo, etc. Talk to your lender and ask for a quick overview of the fees they’ll charge to get a good idea. 5. HOA fees. If the property is in an HOA neighborhood, you’ll have to pay the HOA transfer fee. 6. Property taxes. Real estate taxes are prorated at closing, depending on the day and month of your purchase. On the seller side, these fees can be provided by your agent. You can also ask the escrow company to provide a detailed net sheet of each estimated cost before listing your home. As always, if you have questions about this or any real estate topic, don’t hesitate to reach out to me. I’m here to help.

    • video
    Protecting Your Assets as an Investor

    Protecting Your Assets as an Investor

    Here’s what you can do to protect yourself from a potential lawsuit. Buying a home? Click here to perform a full home search Click here to search our new construction homes.Selling a home? Click here for a FREE Home Price Evaluation  Check out and subscribe to my YouTube channel! If you’re an investor and own multiple properties, how do you protect yourself from a potential lawsuit? Here are four tips to limit your liability: 1. Be honorable and ethical. Treat your tenants honestly and make sure they’re taken care of. Being upfront with them goes a long way. Make sure your contracts are signed properly, the deposits are returned in a timely manner, and anything that needs to be fixed in your units is done so immediately. Simply knowing your tenants elevates your relationship with them to a richer level and can potentially protect you from being sued. 2. Set up an LLC (or multiple LLCs). I, for instance, have seven properties that are owned as part of LLCs. You can assign two properties per LLC, or assign them up to a certain value amount. This way, if you’re sued for one property, an established LLC will act as a legal veil that protects your assets. There’s always the potential to lose your business assets, but your family needs to be taken care of first. 3. Set up a HELOC. A home equity line of credit ensures that you’ll have cash reserves if you need to hire legal counsel. If you don’t need them, then no harm, no foul—you’re not paying any interest on them. 4. Set up an umbrella policy with your insurance broker. This way, you can increase the insurance that will cover specific things related to the property. Your insurance company will cover you in case there’s an accident, and you can make sure your property is well-secured. If you do get sued, it’s imperative that you protect your family. There’s always the potential to lose your business assets, but your family needs to be taken care of first. You can always buy real estate again, but it’s more important to have enough money set aside to take care of your family while the lawsuit proceeds, so have some money saved up or a mortgage that’s paid off for yourself. If you were found guilty and needed to pay restitution, you’ll obviously want to pay what you can. During this process, though, you can set up a self-directed IRA or Roth IRA to put some money aside for the future that the tenant can’t touch. If you have questions about protecting your assets or there’s anything else I can assist you with, feel free to call, text, or email me. I’d love to speak with you.

Top Podcasts In Education

Listeners Also Subscribed To