-Alexa Realty 411 on Friday May 17th 2013
-Hosts Petra Byers & Gene Paniccia, Robert Gawel
-Script for today's show
Are you a fan of reality Real Estate shows on stations like Bravo or A&E? Do you ever notice that almost every episode there is some major problem that almost makes a deal fall through, yet by the end of the show everything works out fine. In the real world of Real Estate not every problem is solved in 60 minutes or less. If you want to know the truth about real estate problems and deals find out here, next on Alexa Realty 411.
Me: Hello, and welcome to Alexa Realty 411, I’m Gene Paniccia filling in for Robert Gawel this week.
Petra: And I’m Petra Byers.
Me: Petra, do you watch any of these Real Estate reality TV shows?
Petra: Sometimes I do.
Me: And you have been in Real Estate for how many years?
Petra: 10 years.
Me: Petra, let me ask you this. When you watch these television shows does it ever really show what it is like for a Realtor every day?
Petra: Honestly, no not really.
Me: Me neither. Let me give you an example. I recently watched an episode where a seller wanted $2 million for his condo than it was worth. The listing agent not only agreed to take on the listing but she agreed to sell it in 30 days or less. An exaggerated sales price and an unrealistic time frame. Have you ever done that for any of your clients and it worked out in anyone’s favor?
Petra: No! I always explain to my sellers what the status of the real estate market is. I also explain to them what the absorption rate is currently and let them know that no matter what price range their house is in, the right price will get it sold. A smart buyer will not over pay for a house and the banks will not give a loan for a house or condo that is above market price.
Me: And that’s why you’re a successful agent, Petra. Speaking of the current state of the market, let’s take a minute to go over that.
Me: What is the absorption rate you ask? The absorption rate shows how many homes are actually selling vs. how many homes are on the market. If there are 1,000 homes on the market and that rate is 25% that means 250 homes are selling each month. Keep in mind, that percentage changes every month and in every region.
Petra: The most recent Pinellas County statistics show that 31.8% of single family homes and 22.2% of condos sold in May of this year.
Me: Let’s talk about home inspections for a minute. I was watching a reality tv show about remodeling and flipping homes. The owner of the home discovered a massive plumbing problem. Did you ever notice all these experts find houses to flip that have hidden major problems that no one seems to know about?
Petra: The truth is every good rehabber or flipper is going to have a home inspection done before any purchase. Your Realtor should be recommending a home inspection before you close on any house. Most home inspections cost a few hundred dollars but it will give you important information that you need to either move forward or cancel a contract.
Gene: So Petra what do you think? Do you think television paints a pretty fair picture of what it’s like in the real estate business?
Petra: No not really but if you or someone you know is looking to buy, sell or just has real estate questions don’t hesitate to call us. Our numbers are right here.
Gene: And if you are watching this on Facebook and you like what you see hit the like the button. Then hit the Share button so other people can see what is going on the world of real estate.
Petra: Next week Robert will be back with Part 2 of Where is Everybody Moving to?
Me: Thanks for watching Alexa Realty 411, I’m Gene Panicia
Petra: And I’m Petra Byers
Me: Bye for now
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