How long will it take to sell my home? 🤷♂️And will I have to negotiate a whole bunch? 🏦 Jeremy Larkin and Jesse Poll take OPINION out of the equation and use real life data to answer these questions home sellers have! Also, the 40th annual St. George Arts Festival is upon us! Hope to see you on Town Square!
Below is the actual St. George Real Estate Morning Drive show, hosted by St. George Real Estate Agent Jeremy Larkin, word for word! Enjoy and please share if you find it valuable!
Jeremy Larkin and The Larkin Group @ Keller Williams Realty can be reached by calling 435-767-9821, or emailing email@example.com.
Andy: What is up? It is time for the St. George Real Estate Morning Drive. Standing by is Jeremy Larkin with his sidekick. He would be the Robin to his Batman. It is Jesse.
Jeremy: Oh, I like that. I like that a lot.
Jesse: I heard a story about that once. Batman and Robin for one of my sales.
Jeremy: I like that. This is true. This is true.
Jesse: It was fun. It was a great story.
Jeremy: The old press release.
Jesse: Bam, boom, bam.
Jeremy: Oh my gosh, you guys, good morning. Jeremy Larkin here. Host of the St. George Real Estate Morning Drive. So happy to have Andy in here with us this morning. Jesse Poll here. Robin. Batman.
Jesse: Good morning.
Jeremy: I do not know who we are, but we are what we are. Hey guys, my heavens, there is a lot going on. This is getting into like epic activity levels here in Washington County. We have the St. George Arts Festival. Does anyone know when the arts festival, I know, but does anyone else know when the St. George Arts Festival started? Does anyone want to venture a guess?
Andy: If they have been listening to my show this morning, they would know that.
Jeremy: Have you been talking about it?
Andy: Yes, we have.
Jeremy: I guess I was not listening. Of course, I was managing children this morning.
Andy: I was in high school when it started.
Jeremy: 1980. Freshman year.
Jeremy: Yeah, 1980 they started with this thing. And the history, it originally started on Ancestor’s Square because that was like this little arts village, and Ancestor’s Square has become more of a restaurant zone at this point. But 1980, so we have been cranking it out for a long time. Almost 40 years. That is crazy.
Andy: What year were you born, Jeremy?
Andy: So you were 5.
Jeremy: I was 5 years old, and I used to go downtown and I remember it was the old library, which the old library sits exactly where the town square tower is. This splash pad and the tower, that exact, that is what was removed to build town square.
Jesse: That is pretty cool.
Jeremy: And I just remember that so well.
Jesse: Such an awesome area.
Jeremy: It is an awesome area. Of course, our office is about block away. We can look over from Larkin Group headquarters, we can look at all the festivities. So that is tomorrow. That is Sunday. What are the times? Andy, do you remember?
Andy: 10-6. I think. Both days.
Jeremy: Yeah, 10-6. 10-6, Saturday, Sunday. Absolutely incredible. The weather looks to be just wow. I cannot even describe the weather. The weather is going to be absolutely perfect tomorrow and Saturday. I checked on it. It said Saturday, Sunday. Friday, Saturday, get out, check out the St. George Arts Festival. It is just coming right down the pike. And there will be a lot of people in town. There is already a lot of people in town.
Jesse: There is. It is that time of year.
Jeremy: My heavens. I just feel like I, River Road, I feel like I am a guy who lives in Southern California lamenting my little fractional version of traffic problems. Right? But it is busy out there.
Jesse: It is.
Jeremy: Hey, tell us what you are doing with the mayor at nine o’clock. I want to know about this. You guys are doing something fun now.
Andy: So every Thursday, I meet with the mayor, one of the local mayors at Hash House A-Go-Go and we just kind of have a community discussion and this week, every other week it is Mayor Pike, but then we also get involved Kenny Neilson from Washington City and John Brambul from Hurricane. Mayor Rosenberg, Mayor Hart from Santa Clara and Ivins, and we just kind of have a community meeting. I am calling it Breakfast with the Mayor, and Tyler Hunt’s Hash House has been gracious enough to host it every week.
Jeremy: That is pretty cool. Pretty cool.
Jeremy: So guys, you can actually go over there. So what happens if people want to watch or listen if they are there, physically there?
Andy: We have got a little radio I brought in. You will be able to hear us live talking, but if we get a caller, you will need to listen to that little radio that we will have there at the end of the table. But I have also got a microphone, so anybody that wants to walk up to the table and ask us a question live on the air –
Jeremy: Wow, I dig it. I dig this. So clever.
Andy: Jeremy is going to come over one of these days and hang out with us. It would be good.
Jeremy: I am willing to roll over. I just did not realize how stinking cool it was, so I am pretty psyched about that thing. Okay. Look guys, it is the 18th of April 2019, and we are going to cover a couple of things. We are going to talk about Ironman before we get off the air because we have got the St. George Arts Festival right now and then Ironman comes whipping in on the heels of that. There is so much going on. I want to talk to you about the volunteer effort. No, we are not encouraging you to register to race. It would be a little late for that. Well, it would be a little late to train for that. How about we say that?
Andy: Yes, it would.
Jeremy: By the way, if you are not watching us on Facebook Live, you can visit us at Facebook dot com slash Jeremy Larkin or if you are listening on Facebook Live, I really ought to put this into our Facebook Live notes every single time and I think I can right now. We are 94.9 FM. 94.9 FM, 890 AM. So just remember that, guys. 94.9FM, 890AM. Did we get it all right?
Jeremy: Here is something we have not been doing, and our time has been limited enough on this real estate program that we have not often invited callers to call to reach out. Moving forward, I really want to make this kind of a standard. Somebody can pick up the phone, call us at 673-5890. That is 435-673-5890, and if they have got a question about the real estate market or something we are doing. I do not know. We are creating all sorts of controversy with some of the advertising. We are having fun advertising. I am just creating some controversy. Pick up the phone and call us and let’s talk about it. Right? What is the latest, Jesse? We sent an email out to our database.
Jesse: Yeah about our Instant Offer program.
Jeremy: Instant offer program. Right? Isn’t that right?
Jesse: Yeah, made a few people mad wanting to know what we were doing and how we could do that.
Jeremy: So let me tell you who was mad. Real estate agents were angry.
Andy: Oh. (Indiscernible)
Jeremy: Doesn’t that tell you something?
Andy: If the other guys are mad isn’t that a good thing, Jeremy?
Jeremy: Uh-huh. I think that it means that it was a good ad. But we have got some real estate agents be pretty frustrated. Right? And here is what is happening. Here is why we are having a conversation about an instant offer program. Companies like Zillow and a company called Home Light that you can see TV commercials running for. These are big, national firms who are now coming in and making offers on seller’s homes. They are saying hey we will just buy your home. Well, it is not all, all that glitters is not gold, and they charge some really hefty backend fees. Like wild fees. We are talking like offering somebody 94% of their asking price, 95% of their appraisal, which seemed really good –
Jeremy: And then the fees were $25,000. Like literally.
Jeremy: Yeah, they called it a buyer premium.
Andy: Premium is right.
Jeremy: So it is a premium. So what are we doing? We are just beating them to the punch, and we might as well be having a conversation about our local investors. If people want to sell their home and not put it on the market, like sell it to a private investor, we talk about maximum convenience versus maximum value. Maximum convenience is you have one of our investor buyers write you a cash offer to close in a short period of time. In as little as seven days or you choose the closing date and you are out. You do not stage the home. You do not prep for showings. You do not invite strangers in. You do not go through any of that nonsense. The stress of, I have a home right now in Stonebrook. I now have got two offers. Stonebrook is off of Dixie Drive over by Sunbrook Golf Course. I looked last night. We are at 42 showings of this home.
Jeremy: Now the home is vacant. Can you imagine if you lived in the home? And you have 42 showings. By the way, any of you listening out there who are trying to sell your home and not getting any showings, it is possible to get a lot of showings. 42 showings. So that is what the instant offer, so the maximum convenience is you sell it to an investor. Maximum value is probably not going to be the investor and those folks will opt to, they will choose to sell it at retail listing price. Right? Jesse, am I getting it right?
Jesse: You are. That is for somebody that absolutely needs to sell it right now or maybe does not have the money to fix it up and it is in bad shape. So it is not good for every seller.
Jeremy: Oh, not at all.
Jesse: But it definitely works for some.
Jeremy: Yeah, it absolutely works for some.
Jesse: For the most part, they are going to put it on the on the open market and get the most money possible.
Jeremy: Yeah, in almost every case, and we are going to encourage that. So that is what is going on. All right. So we have been having some fun with it. By the way, if you are curious about it, you can visit Sold in St. George dot com if you are a seller and you are saying hey, I want to sell my home, but I do not want to stink around with all this junk that has to happen to sell a home, which is staging my home and preparing my home and cleaning up my home and maybe painting my front door and my back door. An investor is going to come in and say we will buy your home as is the way it is today. Right? And they are going to pay less for it, but that is max convenience. And then max value is you do the things that we encourage you to. We take our expertise from selling 1200 homes and help you get the home prepared, and then we bring buyers through and we show it and we negotiate. All right. So, Jesse, question today.
Jesse: I did not do it.
Jeremy: All right. So that answers that. Check. How long is it going to take to sell my home? So this is a question we have got today that we want to answer. People want to know how long it is going to take to sell their home. Like what can they really expect? And maybe we should talk about averages and best and worst-case scenarios.
Jesse: So the average in the Multiple Listing Service right now in Washington County is actually 69 days.
Jeremy: 69 days. What does that mean?
Jesse: So on average of all the homes that were sold, when you average those out it was 69 days. So some of them are probably 250. Some were two. Some were one. Some were a year.
Jeremy: 69 days from the day they put it on the market –
Jesse: That listed the home to the time that they had a contract actually.
Jeremy: Contract. Okay.
Jesse: So not closed but contract.
Jeremy: And this is really fun because we actually pulled our own numbers because why wouldn’t we. Because the answer to the question is two-fold. Well, are your planning on a market average or are you planning on our average? Right?
Jesse: Right. So I just had this conversation yesterday with folks who were getting ready to list their home in Ironwood. They hear that it is taking 70 days to sell a home, so then we started talking about our averages, and with a home like theirs, our average is actually 15 days. But our overall average right now is 38.
Jeremy: A home of that style in that in price rang.
Jesse: Yeah, in that price range. Right. So a 3-bedroom, 2-bath, under $300,000, we are definitely within 30 days, but most of them are within 15 days.
Jeremy: Yeah, so 38 days, we looked back all time. We looked back decades at our team and at the Larkin Group, we sold homes on average in 48 days, and in the last year, 38 days.
Jeremy: Let’s talk about some of these. This is kind of fun because people, when they ask, it is like if I ask Andy, hey Andy, how much does a car cost? How are you going to respond? Well, how much are cars these days?
Andy: Well, that depends on the car, doesn’t it?
Jeremy: Yeah, right. How many answers are there? There is an infinite number of answers.
Jeremy: What kind of car? What model? Is it new? Is it used? What is the mileage? So let’s look at this. Jesse, I am looking at some of the listings we have sold recently. We sold the Reiu, did I say it right?
Jeremy: Reiu. Great people
Jesse: Awesome people. We just closed on that yesterday.
Jeremy: Sold their home. This is so crazy. Most expensive home in the Legacy townhomes. Legacy is off of Tonaquint Drive. $382,000, sold it in 16 days.
Jeremy: From the time we had a sign in the ground, it was cool, we did this big grand opening kickoff event where we had lunch served and it was pouring rain. Absolutely torrential rain.
Jesse: I thought we were (indiscernible)
Jeremy: How many people did we bring through?
Jesse: Probably about 35.
Jeremy: 35 people still came through. 16 days. So let’s go conversely. We have got a property over at Dixie Springs, sold this for $470,000, took us 94 days. And congratulations to the DeCleriks, these incredible people. But let’s talk about why. Why is that the case? Well, we put it on the MLS and then it was too high. And in a lot of cases, sellers are going to ask more than, they are going to try for a little more, and then the price needed to be reduced, and then sometimes we have a contract and then sometimes contracts fall apart, and we have to get a new contract. So that was 94 days and this is just utter transparency. We are not going to get on here and tell you that we sell every home in five days.
Jesse: And that one was, we were really fighting for the price because they had actually built that home and they put every upgrade possible in there. But then they decided they did not like Dixie Springs. They just did not want to be there.
Jeremy: So but I want to –
Jesse: So they sold it quick. Like within a year they were selling.
Jeremy: I want to make sure that people understand that when we say fighting for the price it could come off as like we are not fighting for everyone’s price.
Jesse: Well –
Jeremy: Can you define what we mean on this kind of a home?
Jesse: Yeah, so when you go in and build a home and you put every upgrade possible, and then you need to sell it right away, it does not mean that everybody is going to want that. And when you –
Jeremy: The funnel of buyers is very narrow isn’t it?
Jesse: When you are putting it on the open market, they are comparing you to all of the other new builds, and so you have got to really got to, when I say fight, I mean you have really got to push out there every possible upgrade and you have just got to really have all of the details in place.
Jeremy: Yeah, and you are going to need to be prepared –
Jesse: To wait.
Jeremy: — for a long, for a right buyer.
Jeremy: But let’s have some fun here. So we sold, Michelle and her team did an incredible job selling a home down in Painted Desert, Desert Sands off of River Road. Sold the home for $261,000, 41 days on market. Okay, that is right there in our average. Remember the market average is 69. We sold a Coral Springs townhome. Thank you to the Hammond family. Just closed that two days ago. How about this? Six days, $298,000. Coral Springs is a vacation rental. It is one of the licensed, bona fide vacation rental spots in town. $298,000. Sold it in 6 days. That was quick. That is just listing to contract. Empress Circle. Do you remember this one?
Jesse: I do. That is one of my favorite listings in (indiscernible) because she worked so hard to get that home ready, and we really had a strategy because we knew, we actually had priced that at $394,900 knowing that if we stepped over 400 that it would change our competition.
Jeremy: Check this out.
Jesse: And so we were just sitting on the market.
Jeremy: So they listed at $394,900, Jesse did, and it sold for?
Jeremy: 408. So, sold that sucker for over the asking price. And this is a funny dynamic. Had we listed it at 405, we probably would not have had the activity.
Jesse: We would still be sitting on the market. We would be compared to all of the other newer homes in the neighborhood. But because we were the absolute value, everybody wanted the home.
Jeremy: Yep, so let me round out the final ten. That was Bloomington Hills, Empress Circle, $408,000, 3500 feet. Metal Valley Estates, a lot of people know Metal Valley, nice job, Robert on this. $483,000, 3300 square foot home. Sold in 47 days.
Jeremy: Tonaquint Terrace, $500,000. $525,000, 4400 square foot home in Tonaquint sold in 29 days. Rounding out our top 10, Padre Canyon, which is out there in Ivins, $592,500 sale, 17 days. There is a point I am making. The point is it is not all the $99,000 tiny condos that are selling overnight. 17 days. And as we wrap this up, we sold a home in Enterprise. Yes, we sell in Enterprise. $297,000. Really cool home with some good acreage. Sold in seven days. And the top ten, thank you to the Stock family. $175,000. This is a dying breed. There is not much of this left.
Jeremy: Single-family home. $175,000 sold in 19 days. So gosh, you can sell a home quickly. Now what about negotiating? But Jesse, certainly you gave all those homes away. We gave these away. Right? We must have priced them low.
Jesse: No, we did not. Well the one, yes, but they drove the price back up. Right?
Jesse: So we priced it strategically.
Jeremy: So one home price we did price aggressively and we ended up selling it for $13,000 over the asking price.
Jesse: The plan worked.
Jeremy: You are telling me that we did not give these away?
Jeremy: They sold for on average what percentage of the asking price?
Jesse: Actually, this year we are at 100% I believe. Average.
Jeremy: Year-to-date, we have been selling our client’s homes for an average of 100% of asking price. So let’s bring this to a head. People ask, and if you have a real estate question again, guys, you can pick up the phone. 435-673-5890. How long will it take to sell my home? Well, on average, 69 days from the time you put a sign in the ground to the time you get a contract. We are running about 38 days, all-time. We are selling some of these homes in three or four days, and I have got to tell you. Most people are not real sad when they find out that they have their home sold in the first 5, 6 days. It is a pretty nice feeling. There is a method to the madness, and when we put a home on the market, there is just three factors we can control. And they are the price that you are asking for your home, the condition of your home or staging as it compares to other homes in the market, and the last one, which is pretty critical is the marketing that we do. And I will tell you right now that the condition is the under-layment, the foundation for all of that.
Jesse: So true.
Jeremy: And then between the price and the marketing, we can get people in there. So we have talked about this giving a home away thing on the show so much.
Jesse: I think I am about to get in trouble, but I have something to say about that.
Jesse: I really believe that the only way you can give a home away is to try to sell it on your own without all of the eyeballs on your property. Because with just the sign in the yard or having it on Craigslist or KSL, and probably even Zillow. If you have got it on Zillow and without an agent that is paying money to really push your listing, not everybody is seeing it. So if you do not have it out there for the whole market to view and appreciate, that is a good chance that you are going to give it away for a lot less than you would have if you had just hired a powerful agent like the Larkin Group.
Jeremy: The question is how will you know if you got the most money. Well the only way you will know if you got the most money is that you did everything possible to prepare the home for sale and then turn around and market it.
Jesse: Yeah, market it.
Jeremy: Right? That is, which is such a great question. How would I know if I got the most money for my property? And that is it. You would prepare that home correctly, which is going to take some professional guidance. Some of our clients will actually bring a show-ready home. Some interesting statistics out there. It is like this, Jesse. We are sitting here and emails are hitting my inbox. Right? While we are running Facebook Live. We have a home at 828 West 1300 North Circle. We have been on the market a period. We are at 12 showings.
Jeremy: We have had 12 showings.
Jesse: That one is a tough one.
Jeremy: Yeah, 12 showings. I mentioned last night that we have this home in Stonebrook which I have two offers on now. Isn’t that fun? I do not hate that. I do not hate that at all. 38 showings. That is the exact number. 38 showings in one home. I thought it was 42. 38 times an agent has gone through –
Jesse: That is a lot of showings.
Jeremy: — with a buyer and looked at the property. So folks, if you are not seeing 2-3 showings per week, you have got a problem, and the problem, we can diagnose it. This is actually kind of fun. So we created over at Sold in St. George dot com just recently, we have got a button there on our main menu and I think it is home not selling, yeah it is. Home not selling question mark, and if you just click on that, we would be happy to produce what is called a home marketing audit for you. And a home marketing audit is really simple. We look at your home in three categories, which we talked about are pricing, condition, and marketing. It is a checklist. It is an audit. It is tax time, right? The audit is hey, did we cover all the bases that needed to be covered. Now, let’s talk about tax shredding. Okay, so a lot of people out there have some documents they need to shred, and we are going to let you come shred those and have some barbeque, dinner with us. We are going to grilling hot dogs and burgers and having a great time. The date is April 26th. That is Friday. A week from Friday from 5-7pm, and we would love to have you. I do believe that we need to update our RSVP form. I do. I do. I do. So if you want to RSVP, RSVP right now because we would like to have a number. You can come out and you can bring up to three boxes of your tax documents that need to be shredded. Say hello to us. Have some dinner. Have a barbeque dinner which is sponsored by our friends at Nook and Cranny Home Inspections, and we are doing this on the Wells Fargo lawn, which is across the street from our office, which is right there at town square essentially. East of town square. So Friday, April 26th. If you want to RSVP today because I just, I am looking at my website and I can see the link is not live, just visit Sold in St. George dot com and shoot us a message. Every website on the planet has the contact form, and just click contact. Right? So in our final two minutes, Jesse, you are not running the Ironman?
Jesse: No, I am not running the Ironman.
Jeremy: No, I do not think you should run it. I do not think I should either.
Jesse: I know I look like I could, but –
Jeremy: I know you do, man. You are lean, mean fighting machine. I want people to reach out and visit Ironman St. George dot com, and I really want to encourage you, we are in the final push here. It is the first weekend in May to gather up our volunteers. I am a volunteer director, and I will be working with athletes and with the volunteers, overseeing activities at T2, transition two down at town square, where they get off of the bike and head out on the run. Right? So it is going to be a great time. The energy is epic. It is always fantastic. We hope to see you there. But visit Ironman St. George dot com. Help us out. We need volunteers. It requires about 2000 volunteers, I think. Maybe I got the number wrong, but I think that is about right, to pull this thing off. Boy, it is such a huge economic boom. Huge economic boom. Visit Ironman St. George dot com. If you have thought about selling your home and you want some more information, if you are curious about the instant offer program or maybe you are selling and it is just not happening, I want to be really clear. We are, the Larkin Group with Keller Williams Realty, we are not soliciting a listing. Okay? We cannot do that. It is against the rules, so we do not ever proactively reach out to somebody who has their home for sale and say hey, looks like your agent is doing a bad job. Maybe you should call us. Nope. That is not what we do. Just simply stating that if you would like, and you are curious about getting a home marketing audit, wondering, maybe you are For Sale By Owner, and you wonder why your home is not selling –
Jesse: We have actually done that quite a few times and helped them figure out how to sell it on their own. I am not saying it is a bad idea, but you have got to make it so you are getting your home out there to everybody.
Jeremy: Yeah, how would you know that you go the most money? You will only know if you did everything. So visit Sold in St. George dot com and you can check out the instant offers link or get a home marketing audit. Just click the old home not selling question mark, and we will take care of you.
Jesse: All right. Thanks guys.
Jeremy: All right. Let’s go have some fun at the arts festival. All right. Over and out.
Andy: Should be a fun weekend. Great job as always. Jeremy Larkin and Jesse, he is the tech guy. I do not know if anybody knows that, but he is the tech guy.
Jeremy: He is the set-up guy.
Andy: He is amazing.
Jeremy: He is my cohort. This is great. Thank you, Tom Daves. Thank you, Joe Newman. Thank you for all our listeners today.
Andy: All right. That will do it for the St. George Real Estate Morning Drive. Every Thursday morning right here on News Radio 94.9, 890 KDXU. News coming up next.
The (Real Estate Market) That Got Away? St. George Real Estate Radio w/ Jeremy Larkin & Carl Wright (St. George Real Estate Morning Drive Radio Show)
“The One (Real Estate Market) That Got Away”… In this week’s episode of “The St. George Real Estate Morning Drive” Jeremy Larkin hosts home value expert Carl Wright joins to discuss avoiding “home value heart break!” 🏦 💔 in the shifting St. George Real estate market. After 7 years of boom prices and inventory are shifting. Both home sellers and buyers alike can avoid losing thousands on this show!
Below is the actual St. George Real Estate Morning Drive show, hosted by St. George Real Estate Agent Jeremy Larkin, word for word! Enjoy and please share if you find it valuable!
Jeremy Larkin and The Larkin Group @ Keller Williams Realty can be reached by calling 435-767-9821, or emailing firstname.lastname@example.org.
Craig: Let’s join Jeremy Larkin and the St. George Real Estate Morning Show.
Jeremy: Got it, man. Hey, good morning. We have got Craig Bennett who is our guest. That is kind of fun this morning. Right? A little variety. We went for the big dogs. We brought Craig in all the way from Parowan this morning.
Craig: I do not know about big dogs, but –
Jeremy: That is pretty good, man. Hey, good morning to everybody out there. Jeremy Larkin, host of the St. George Real Estate Morning Drive. I have got Carl Wright in studio with me this morning.
Carl: Good morning, everyone.
Jeremy: I love it. Man, we like having Carl here. You know what is fun, Carl? When I told Jesse yesterday that you were coming, he was oh, I love it when Carl comes in.
Carl: Well, thank you for having me. I love being on the show. It is always awesome. Thank you.
Jesse: We get educated when you are one.
Jeremy: We do get educated. We do get educated. So hey, we are going to have such a great time today. We are going to talk about the one that got away. Carl, did you ever have, with all due respect to your good wife, was there one that got away when you were about 14 years old? The early crush.
Carl: No, well, we will just say no on that one.
Jeremy: Yeah, listen I really appreciate you taking the wise response. We are going to talk about the one that got away today. A lot of people have the one that got away. We are talking about the real estate market that got away.
Carl: This is a good topic.
Jeremy: So we are going to have some fun with that today. I was just on my way in here. Is your calendar every day? I think it is. Is it just blown up?
Carl: It is insane. My wife asked me this morning. She said hey can we sit down for a minute and talk about a few things that we need to go over. I said okay, here is my schedule. Seven o’clock I have got a conference call. Seven-thirty, I have got to take my kid to school. Eight o’clock, I got to go pull my comparables. Eight-thirty, I have got the radio show. Then I have got inspections until two. Then I have got back to the office. Baseball game is at 5:30. Baseball game is at 7:30. I can probably fit you in about 9:30 tonight. Does that sound alright?
Jeremy: This is so funny.
Carl: I know I am not unique to this craziness. I call this the tornado of life right now that I am in.
Jeremy: Man, you know what is funny? I love that. Listen, any of our listeners out there and any of our Facebook Live, by the way we are on Facebook Live. Facebook dot com slash Jeremy Larkin or we are on YouTube Live. It is kind of fun. We are over at Go St. George TV. G-O-S-T George TV. And we broadcast YouTube live mainly so that YouTube file exists when we are done with the show. There are not a lot of YouTube Live people out there at this point. I think there will be. I think there will be eventually. But the Facebook Live, Facebook dot com slash Jeremy Larkin. I want you to comment. If you are listening and you have got a crazy, bingo, the comments are coming in. Drew is amazing over at Guild. He says that sounds like my day. I was just having this conversation on the way in here. I looked at my day and I said holy crap. This is stupid. Including bathing a dog I plugged into the calendar. Is that rad?
Carl: Oh, that is awesome.
Jeremy: I am headed to San Diego this weekend. I am actually going down to spend some time with some friends and meet with a company that does all of our video marketing. I am going to go spend some time with Frank Clessits down in San Diego and spend a day in his office and see what he is doing. This is a guy who is like cutting edge. People pay them a lot of money to produce their video marketing that they send out to their client base. It is this, I am looking at it, Carl, get ready for it. It is get the kids out to school. Get ready for the radio show. Do the radio show. Have my morning meetings. Get ready for the lunch huddle because see our team, you know we meet every Thursday. Have lunch and training with the team. I have got a cool guy in town who is really crushing it in real estate. He is going to come in and ask us a little bit about how we operate as a team.
Jeremy: How we have culture. We are going to talk about that. And then it just goes crazy from there. And then at 7:45, there is a dog washing. It is crazy.
Carl: Good for you. You just make time for your dog.
Jeremy: It is nutty. It is not even mine. It is Kayla’s dog. But it is a dog, but she is essentially my dog. She is like my dog, and then Jesse is going to take the dog.
Jeremy: Thank you, Jesse, this weekend.
Carl: Oh, what a good friend.
Jeremy: Jesse is an unbelievable dog sitter by the way.
Carl: I have got two, Jesse. I might hit you up later on.
Jeremy: Yeah. Do you really?
Carl: I do.
Jeremy: Dude, we will dog sit for you, too.
Carl: Really? Two shepoos. Have you ever seen a shepoo?
Jeremy: I love a shepoo.
Carl: Yeah, they are the greatest dogs ever.
Jeremy: Yeah, yeah, we will dog sit. We will dog sit. We had Robert’s dog in recently. So Carl, I am glad to know you told your wife that 9:30pm was when you were fitting her in because I am feeling a lot less guilty this morning about my day.
Carl: Well, I am sorry to my wife because this is a crazy time. When you coach youth sports, it is just what happens. She is a great support, and the time that we get to, it is from 9:30 till 11:30 that we get to talk and catch up on the day.
Jeremy: You go to bed when? How late?
Carl: I am usually in bed by 10:30.
Jeremy: That is not terrible.
Carl: Not too bad.
Jeremy: It is not terrible. I do not know. When do you get up in the morning? That is what I want to know.
Carl: I am usually up at 6:30-7.
Jeremy: Yeah, okay, so you are getting some rest. All right. Let’s talk about this this morning. We are going to have some fun. So Carl Wright is, and I said here on our Facebook page, and if you just picked up the show, I am Jeremy Larkin, host of the St. George Real Estate Morning Drive. Carl is a good friend of ours. Maybe more importantly than anything. And he is, I said, a home value expert, and the reason I said that, I think you understand why I said this on Facebook. People hear appraisal or they hear mortgage, and they kind of tune out because it is such a, what is the word, it is such a proper term. Really you are an expert at studying home values.
Jeremy: That is what you get paid to do.
Carl: Yes. That is right.
Jeremy: They have done now 23 million appraisals here in Washington County. No, what is the latest number? What is the latest number? I always ask.
Carl: I do not know. We opened our office in 2008 and since then we have added five appraisers. So there are five appraisers in our office, including Salt Lake. So between everybody we have done about 21,000 valuations.
Jeremy: By the way, what is your wife’s name?
Jeremy: Danielle. Is she listening?
Jeremy: Danielle, here is the deal. The 21,000 appraisals is part of the reason he is not going to be able to talk to you until 9:30 tonight. And the deal is he is, here is the great news. He has blocked 9:30 to 9:40 for you. Okay? And then he has got to catch up on ESPN Sports Center. 21,000.
Carl: It is a lot. Now, granted –
Jeremy: Appraisals, man.
Carl: — you have got to keep in mind that is spread across the board. We have a wonderful staff at R1 Appraisals that allows us to do that many appraisals, and it keeps us, we have got awesome employees and awesome appraisers that take pride in what they do.
Jeremy: Yeah, and you do how many people now, total in your firm?
Carl: We have 14 employees.
Jeremy: Gosh, I love it. I love it. I love these guys, and we have trust with them. Carl is, the thing is he is actually handsome. So he is great for the Facebook Live. He has got a face for radio.
Carl: Did you notice I shaved my beard?
Jeremy: I thought you were feeling kind of –
Jesse: He has gotten more views than you have ever gotten.
Jeremy: I know. I know, man. I have got a little scrub going on here. So 21,000 appraisals, and here is what this means, and this is really interesting. I had a conversation with a client this week. We met with him. It is the one that you did the desktop for. Thank you.
Jeremy: And I am going to explain, I want to talk today about what that is.
Jeremy: And the value that people could derive from that by the way.
Jeremy: Unless you are like hey, I do not want that business.
Carl: No, I think that is great.
Jeremy: Because I think it is a –
Carl: It is a great tool. A desktop appraisal, let’s just hit on it real quick. A desktop appraisal is a real quick tool to give you an idea of what your home is worth. We do not come to the property. We do not inspect the property, so we make some assumptions about your condition and quality and the upgrades that you have done. And we will use as many means as we can to gather information about your property like using the County records, an expired MLS listing or things like that that will help us get an idea of what your house is, the square footage and all of that stuff.
Carl: And then we do a valuation and give you an approximate range of value based on the research that we have done.
Jeremey: And this is kind of fun. So this week we have a client, I should have invited him to listen this morning. They had their home For Sale By Owner on Zillow. Right? And they are good friends. This is going to be very typical as we talk about a shifting market, the one that could get away from people. This is really typical in this kind of market. They were trying For Sale By Owner, but it was not happening. They said, Jeremy, we will just call you in two weeks. And they called me in two weeks just like they said they would. Will you come out and look at the home? I sent Carl because the home was a unique home in a unique neighborhood where no two homes were kind of the same. So I sent him their Zillow listing. Right?
Jeremy: And said I need a desktop appraisal. By the way, we do not always do this, but I paid for it on behalf of the client just because I thought let’s just show up prepared because I want to speak to why I would do that. Because you know what a lot of sellers are thinking. Why would you need an appraisal? Don’t you know the value?
Jeremy: So we will get to this. I just sent him the Zillow link and said I need a desktop appraisal. It costs half a regular appraisal. Right?
Jeremy: It is about half of a regular appraisal. He has all the square footage, assuming it is correct. He has 30 photos of the home that they took. It is plenty for him to give a value range, and he is very legal. He follows all of his legal parameters as a licensed appraiser. There is a good disclaimer that says this is not a full appraisal. It is a value range. But here is why. If Carl has done 21,000 appraisals, if an appraiser has done 10,000 appraisals, and I have done 3 or 4,000 market evaluations is what we call it in our world. CMAs, comparative market analysis. He actually has an advantage on me. And he has an advantage because, number one, he went to school only to study homes and prices. Right?
Jeremy: I went to learn, and I am more of a marketer. Right? So my expertise is in helping the client get the value out of the home. But what people fail to understand, and Jesse knows this, standing here in the studio, when you hire us to sell your home, you are not hiring us to choose the price. This is really confusing for sellers. Isn’t it, Carl?
Carl: It is.
Jeremy: Well, I need an agent who will pick the price. We do not pick the price. The market determines the price. You are hiring us to get the price to get the juice out of the lemon for you.
Jeremy: We do not produce lemons. We produce juice. We produce lemonade actually. And so the reason I brought him in on this was I had an opinion. They had their own opinion, and I said let’s bring in a scientist. I call appraisers scientists and real estate agents artists. By the way, that is how I do it with my clients.
Jeremy: I bring my artistry which is, I have this feel for what buyers are doing and why they are doing it and what they are thinking about. Carl has a scientific background and that is why we do a desktop appraisal. So I want to encourage people. We did not get him on here to sell it, but I am going to sell some desktop appraisals. If you are thinking about selling your home or if you are just morbidly curious about doing something much better than a Zillow estimate, I would reach out to Carl. We will give you his contact info today. Say hey, I need a desktop appraisal. Can I just email you a Dropbox link, a Google link?
Jeremy: Drew asked what do you guys charge for a desktop appraisal?
Jeremy: Two hundred bucks versus a typical appraisal anymore is four to four-fifty. Six?
Carl: If you are getting a mortgage, you are going to be up to $600 because of the, yeah, anyway. $600. $200 it gives you a pretty good range. Like you said, we are following what we are governed by, the USPAP guidelines. It is a full appraisal, but it is a range of value. So depending on the upgrades and things like that, the updates that you have done to your house, I am obviously not in it to, I have not felt it. I have not measured. I am making some assumptions about the property. So until we come and do a full appraisal, we cannot give you a specific number.
Jeremy: I am going to give you a range.
Carl: I will give you a range. Right.
Jeremy: How come we think the market might get away from a couple of people right now? What is going on?
Carl: Well, it is an interesting market that we are going on. Thank you for your compliments. We are, in a way, scientists. We look at not only, or more appropriately valuation experts. We not only look at the way houses that have sold, we look at market trends to determine what the market is currently doing. I spoke with a lady yesterday that wants to put her house up for sale. She is from Ogden. She does not know this market.
Jeremy: Ogden, former armpit of the state, and now one of the coolest places in the state. Right?
Carl: Now one of the coolest places. Yeah. Ogden is awesome.
Jeremy: Anyway, just had to insert that. It is a cool place now.
Carl: It is. But she was not familiar with our market. She wanted to know some specific things, and so I was able to help her understand that what she is hearing on the news may not completely be accurate that we are in an increasing market, that it is a seller’s market, etc., etc.
Jeremy: It is booming, man. It is crazy. Right?
Carl: And it is. The market is still good. It is a good time to sell. It is a good time to buy. Interest rates have come down, which increases buying power, etc. So here is something, Jeremy. I gave you a sheet right there. I did a comparison from last year to this year. The first quarter of last year compared to the first quarter of this year. There are 4% more homes on the market right now in the greater St. George area than there were this time last year. 4%, which means, so the average sales price of those homes was $388,000 last year.
Jeremy: Got it.
Carl: This year is $390,000.
Jeremy: Which you would think well, things are going up.
Carl: Not enough to say yeah, we are increasing. $2000 over 380 is less than 1%. So we are stable. However, when you look at the percentage homes that are currently on the market, what does that tell you?
Jeremy: The percentage of homes that are currently on the market that tells us that it is going to be pushing prices the other direction.
Carl: Correct. Correct. So we are in a market where if you are not aggressively trying to sell your home and you are not competitive, like we talked about last time, you are going to be chasing that ball down the driveway, and you are never going to get caught up.
Jeremy: You are kicking the ball around with your siblings and it starts rolling down the hill, you have to get in front of that ball.
Carl: You have got to get in front of that ball. You have got to get in front of that ball. Which like we talked about the last time I was on, it may require a 3-5% decrease in your list price right now.
Jeremy: Yep. Oh man, but hey listen, I need this much. Right? But I want this much. But my neighbor said this much. But hey, Carl, I sold my home in another market, and none of that matters, does it?
Carl: Right. It does not matter. It does not matter. We are a very specific market here in St. George. There are a lot of factors that go into it. A lot of unique homes here in St. George. So it is awesome when you can get a third-party valuation that is independent of you, your feelings, what your neighbor said, what your real estate agent has said, that can give you sometimes, do we dare say the hard truth about your home?
Jeremy: Yep. Yeah because it is very emotional for folks. I had a really pretty serious debate with a client this week. I said we have to take the emotions out of it, and he said, how? This is my home. It is emotional. But that does not matter.
Jeremy: And that sounds really coarse, okay, but you are hiring us to do a job. And the job is to help you sell your home. If they are hiring us to sell a home, right? And so, we can get philosophical about how sad it is that they wanted 495 and now the house is 450. Right? But here is the crazy part. Carl, if we had told people three years ago that their home was going to go up 15, 20% in the next three years, if we had told, how many homes would they have gone and bought if they knew that was going to happen?
Carl: Yeah. (Indiscernible)
Jeremy: A ton.
Jeremy: So isn’t it funny how we were, if we had told people that their home values would go up 15 or 20%, they would have said are you serious. This is great news. Yet, now that it has gone up 15 or 20%, but we find out it is not quite worth what we thought it was, we do not know how to deal with it.
Carl: Right. It is an emotional thing.
Jeremy: It is very emotional.
Carl: We experienced this in 2008. 2009, 2010 and finally hit the bottom in 2011, and it was a hard thing to deal with. As an appraiser, we do not like to report market shifts, but we have to. Market shifts are an essential part. The market is never, it is either going, it is stable, but there is always a slight increase or a slight decrease.
Jeremy: Yeah, it is never stable stable.
Carl: It is never stable stable, but within 5%, we call it stable market. It is either going up or going down. And so we have to report those market trends accurately and this is one of the tools that we use to help us report that.
Jeremy: So this is interesting. This data you shared with me is single-family specifically. Is this correct?
Carl: That is correct.
Jeremy: The reason I asked that I was looking at, so every day, if we are trying to stay on top of the market, most of us are trying to stay on top of the market, we have what is called a hot sheet. Right?
Jeremy: And the hot sheet, we have explained to our listeners is for real estate agents, it shows us what, all the homes that are newly listed, homes that have recently sold, price reductions, right. Now this is kind of interesting. If I go back 30 days, this is literally, I am just saying is today the fourth? Today is the fourth. All right. Run a quick search on the hot sheet. In the last 30 days in Washington County, and this is where we talk about the one that got away. If people are thinking about selling their home, okay, and they want to sell at the top, right, or close to the top, as I called it on the last show, the Seinfeld effect. Right? They went out on top. 561 price changes in the last 30 days in the MLS. Now when we say price changes, there might have been 30 or 40 of those that were like typos, so they were not all reductions. But I would say wouldn’t you guess that 500 of those 561 were price reductions?
Carl: Usually you do not increase the price when you put a home on the market.
Jeremy: You will have a few things where they said 395,999 and they meant to say something else. Right? Well, it is supposed to be 389. But you are talking 500 property owners reduced the price of their listing in the last 30 days. This is indicative, not that the market is falling, but that people have, first of all, been asking just too much for their property. Do you believe that folks are going to look back in 24 months and go, dang it, I really should have just sold that?
Carl: Oh yeah, I see it all the time. I see it all the time where you just, everybody wants to get top dollar for their property and rightly so. But I think sellers have to be honest with themselves. Do I really want to sell this property? Or I do just want to make some money? And so, I think you have to weigh some of your motivations.
Jeremy: Yeah, which is the well, should I sell now? You just nailed it. Well maybe. How many appraisals right now, so when somebody goes to purchase a home and they are getting a loan, they have to get an appraisal. So we always help our sellers understand that we have to sell the home to the buyer and then it has to be sold to the appraiser, and we do not really sell to the appraiser but meaning it has to appraise at least at the contract price. And then there is actually a third sale that takes place which is kind of fun, and this sale is the buyer has to get from writing the contract and all of that initial excitement, what we also know as the honeymoon phase, the first date phase, the oh man, I went out with Carl Wright. I remember all the girls used to say back in the 90s. I think I am in love, they said. But once they got to know Carl, they found out that he was actually a regular human being and he was fallible, but there is a honeymoon phase for buyers. So first sale is to the buyer, the second sale is the home has to appraise, and the third sale is the buyer has to stay in the contract to close. Because buyers get cold feet, and since we are having fun talking about dating, you want to go ahead and check out my profile over – I am kidding. While we are talking about data, this is really fun, the challenge with homes is that, Carl, do new listings hit the market every day?
Carl: Yeah, almost every day.
Jeremy: New competitors, right?
Carl: New competitors every day.
Jeremy: So if I am out there showing my wares, I have to understand that there are other people hopping into the pool every day. Aren’t there?
Carl: Right. Every day. And there are more people hopping into the market and less people buying right now.
Jeremy: Right? Which is going to put a downward pressure on values. Give us, we have got about 2 minutes, give us your biggest takeaway as a guy who is with a company doing how many appraisals will you guys do this next month?
Carl: I do not know. Between Salt Lake and here, we will probably do between 250 and 300 appraisals.
Jeremy: Okay, 300 homes. They are going to do an appraisal on. What is your biggest takeaway right now for home buyers, home sellers?
Carl: There is a lot of inventory right now, so buyers are, there is a lot of inventory. They have a lot of –
Jeremy: There are more options.
Carl: If we are using the dating –
Jeremy: Let’s stay there, man.
Carl: There are a lot of fish in the sea right now to choose from.
Jeremy: And this show is sponsored by Match dot com, by the way.
Carl: So there are a lot of selections out there especially if you are in the $500-750,000 range. If you are in that range, there is a lot of inventory to choose from right now. So if you are serious about selling, you may look at not only the closed sales, but also the active listings that you are competing against. Be honest with my house is, how does my house stack up to these other houses?
Jeremy: When you pull on Bluff Street down here and you pull out and head down to the R1 office, you are actually looking ahead. You are not watching behind you. Because if you watch behind you very long, you are going to hit a car –
Jeremy: And a curb and maybe you will drive through the front of a pharmacy like somebody did recently to our good friend that we love. Brad Stapley. So crazy.
Carl: It was crazy. Last thing, I do not want to be a dooms-dayer.
Carl: We are in a good market. I feel like we have been really negative about what we have done today, but this is a good market.
Jeremy: It is an incredible market.
Carl: Interest rates are good. It is a great time to sell, and this weather we have experienced, people love St. George and people are going to continue to buy in St. George, and we love southern Utah.
Jeremy: And here is my final thought on that to cap it. The reason we say the one that got away is it is actually such a great time. Values are so much higher than we ever thought. Ten years ago we said they would never go back here.
Carl: I remember.
Jeremy: And yet, a lot of folks are going to miss out. Buyers might miss out. Thank you so much, Carl, for coming on. Carl, best phone number for you?
Carl: Thanks for having me. 435-627-0019 is the office.
Jeremy: 627-0019 or look up R as in the letter, the number, the letter R, the number one. R1.
Carl: R1 Appraisals.
Jeremy: Appraisals. Thank you so much.
Carl: Thank you for having me.
Jeremy: Let’s go sell some homes today.
Carl: I appreciate you, Jeremy.
Jeremy: There you go.
Carl: Thank you.
Jeremy: All right.
Colby Baggs Neilson ! is gracing us with his presence! Pre-recording tomorrow’s radio show since he cannot be here Ironman 2019 is almost upon us, if you want to blow your own mind having an incredible day, volunteer! http://m.ironman.com/triathlon/events/americas/ironman-70.3/st.-george/volunteer.aspx
Posted by Jeremy Larkin on Wednesday, March 27, 2019
In today’s episode of the St. George Real Estate Morning Drive, Jeremy Larkin and co-host Jesse Poll invite Matt Green, well-known Utah Real Estate Investor, Keller Williams Realty Franchise owner, and all around family man, to talk about a bill that’s ready to pass at the Utah Legislature, HB 121, and how it may improve the home buying and selling process in the Beehive state!
Below is the actual St. George Real Estate Morning Drive show, hosted by St. George Real Estate Agent Jeremy Larkin, word for word! Enjoy and please share if you find it valuable!
Jeremy Larkin and The Larkin Group @ Keller Williams Realty can be reached by calling 435-767-9821, or emailing email@example.com.
Andy: News radio 94.9, 890, KDXU. It is time for the St. George Real Estate Morning Drive with Jeremy Larkin. Jeremy, how are you, man?
Jeremy: Good morning everybody. Jeremy Larkin here. How am I? I have never been better.
Andy: That is good.
Jeremy: I have maybe been better.
Andy: That is really good.
Jeremy: I have got somebody very special in the studio today. Besides you, Andy. You are special.
Andy: I am special.
Jeremy: You are special. And Jesse is lurking in the shadows today. Right? There he goes. There is his hand. There is his hand. So any of our folks that are watching this on the live feed this this way. Hey, and guys today, just so you know, we are not broadcasting Facebook Live. So if you are listening right now, always remember that this show is available on 94.9FM, 890AM or what I like to do is I just Google the phrase 890 KDXU Livestream. That is the easiest way to just stream it live if you do not want to listen on the radio. 890 KDXU Livestream. I have got, and we are going to talk about a little bit of real estate first, but I have got someone special here. I have got Colby Neilson here.
Colby: Hey, do your thing, man.
Jeremy: What is it like to be back in the studio?
Colby: That means that we got a race coming up. That is all it means to me.
Jeremy: That means we have a race coming up. We are going to be talking about said race. I want to talk about. There are a couple of things I want to talk about today, by the way. I want to talk about the volunteer element.
Jeremy: I want to talk about some history. I want to talk about the bid for the World Championship for 2021. Right?
Colby: All right.
Jeremy: Is that the year?
Jeremy: Is that the year? So, kind of fun. Gang, so let me run some real estate out of here though. And this will be fun because you can join in the conversation, man. I love it. So we have talked for some time about our instant offers program. I want to actually give some background as to why we are doing an instant offers program. So for all of our listeners out there, if you visit our website, which is Sold in St. George dot com, you will see something that says, and I will just pull it up, and I think it says get an instant offer. Jesse, does that sound right? Something like that?
Jeremy: Get an instant offer. Okay? Should I what my actual, my own website –
Colby: Yeah, check it out.
Jeremy: — says. Get instant offer. All right. Here is the background. So Zillow is the big national, and Andy, you know you have had your home on the market. You know what this is about right?
Jeremy: Zillow is, just so people understand, it is the most trafficked real estate website in the world.
Jeremy: An interesting side note is that Zillow is only in North America, excuse me, in the United States. So Zillow does not exist in Canada. I went to British Columbia a few years ago, and I was like oh, I wonder what houses are. There is no Zillow. So it is the largest, most heavily trafficked website in the world for real estate, but it is only in the United States. I realize we think that we are the world’s, like we are the biggest, best thing in the world. But there is a big world out there outside of the US. Canada is giant. China is giant. Europe is giant. Okay. So what has happened, guys, is Zillow and a company called Open Door, another company called IBuyer, all these companies are coming in and here is what they would like to do. Do you remember when there was a thing called travel agents?
Colby: Yes, yes I do.
Jeremy: And there still are. And what is funny is a couple years ago I booked a cruise with a travel agent and it cost me nothing over what I paid for a cruise, but the way that it is booked is they get their commissions built in by the company on the backend. It is little bit like selling a home.
Colby: Okay. Right.
Jeremy: My life was ten times easier. She figured all the dates out, all the scheduling out, ran it all for me, and I gave her a credit card and it was fantastic. But a little company called Expedia came along and Travelocity and they changed the whole process. The consumer wants to go online. Right? And so what these companies are doing is they want to eliminate people like me from the process. And to some level, there are some things you do not need me for. Right? Which would be similar to, at some point, they just go we are just going to go all online learning, Colby. Like you have been great. Appreciate you. Thank you for your service. Right?
Jeremy: But here is a Chuck-o-Rama gift card for you and your family, and it is all online now. And the students just want to get it 24/7, when they want to get it. Let me ask you a question because I have got him in the studio. He is not prepped for the conversation. Is there a difference, my friend, between the experience of a student, and there is online high school in Washington County.
Jeremy: What is the difference, toot your own horn for a second, between doing online high school and coming into Mr. Neilson’s classroom? Because there is a difference.
Colby: Well, there is a big difference. Number one, you are getting someone who is sitting with you, showing you how to do, well, I teach math. Showing you how to do just this certain math concept.
Colby: Okay. With you, speaking back and forth. It is not someone else’s tutorial video that you are trying to watch and figure out. You are getting maybe a handout, some extra practice, something that –
Colby: — something I can physically give you and watch you work on, and plus, in my class, we have a great time. There is some social interaction –
Jeremy: And by the way, this is huge.
Colby: — that you do not get otherwise.
Jeremy: How many students do you have total? Because you are a math teacher, so they are circulating all day.
Colby: 120, 130 kids.
Jeremy: How many do you know by name?
Colby: All of them.
Jeremy: Let’s just all just have what we call the power of the pause. He said all of them. Right? You know 120 kids by name. How many of us remember our high school teacher, right, middle school teacher? And everyone has a different one. Like some kids who are really drawn to you will not be drawn to, there are other kids that are not drawn to you. Right? They have their other favorite.
Colby: Oh yeah.
Jeremy: I know that is hard for you. I understand. But I know this guy. He is a good friend of mine and has been for decades, but that element. You know them by name. They like going in your class. They like you coming up to their desk and saying hey man, I see you are struggling. Why don’t you stay after school and let’s talk about this. You know their names. A lot of them you probably have like a pretty cool friendship with, like you know what they are doing in sports. Right?
Colby: Oh yeah.
Jeremy: You know what they are doing around the school. Hey, how is the family?
Colby: Well, I was going to say, not only do I know their name, but you learn more about them as the year progresses. Some of them are involved in extracurricular activities, so you see them. You go to the games. You see them. You try and build that rapport with them because they are doing these other things, and you want them to feel comfortable in your class so they will be more willing to accept your –
Jeremy: Let me ask you a question here. Andy, I know you are at least like, you are over 30.
Andy: Barely, barely.
Jeremy: Who is your favorite teacher? Who do you remember? Name a teacher.
Andy: Mr. Bickmore, Mr. Johns, Mrs. Robbins. I have a bunch of them.
Jeremy: Okay. Pause. How many years ago were you in school? Just give it up.
Andy: I graduated high school in 1984.
Jeremy: Okay. Think about this. Class of ’84. My sister Tiffany same age.
Andy: Great year.
Jeremy: Do you see this impact though? Instantly, he listed, he is like naming them off.
Andy: I could have listed ten more.
Jeremy: They impacted your life and here is the funny part. They are just regular people with families trying to figure it out. So let’s bring this back around, and I think you can kind of see where I am going. What is happening with these big, massive real estate engines, like Google is a search engine, so Zillow is an engine. They would like to eliminate the agent from the process. They would like to make it so automated that you go online. You say I want to see this house, and this is what they would ideally like. You show up, you plug a code into your phone, the door unlocks, you walk in, you tour it yourself, you leave. That is what they would like. That is great for them. The issue is the human element is completely removed from what is an insanely emotional process. Right? Trying to decide what your home is worth. Trying to digest the fact that it is worth less than you think it is because virtually every home is worth less than the seller wants it to be worth. Moving your family. Dealing with a death or divorce or a marriage or a new child. Upsizing. Downsizing. Which side of town should we live on? All sorts of contract issues. You sell your house and you think it is all done, and then the buyer, who you thought they were nice people, and I say that with a tone because they are probably nice people, but now they come back with a home inspection list, repair list that says hey Colby, I want you to fix 21 items. And you are like I thought they were good people. What? That is where you agent comes in and says, puts their hands on your shoulders. Let me give you a little massage. Just relax. Okay? They would like to remove the human element from the process because it makes them money. I am all about automation. We are continuing to automate our business in every way we can, but the reason we launched this instant offer program over at Sold in St. George dot com is because they are trying to buy homes now. They not only want to remove the real estate agent from the process, they also want to pull this one. Hey, Andy, do you want to sell your home? It is real easy. Just plug your address in and a few details about your home in this app and we will send you an offer. Well, if you guys would like to have to some fun, google Zillow Consumer Affairs. I saw 1100 reviews. Guess what the average review was from dealing with Zillow as a consumer? One star. One of five. You would have thought three, maybe four.
Andy: Yeah, that is what I would have said.
Jeremy: One star at the Consumer Affairs. This is for the official Consumer Affairs’ website.
Jeremy: Because you are dealing now with this national entity. You are not dealing with human beings. Right? This is like outsourcing all of your kids’ education to a website, and I think there is an element of helpfulness to that. Right?
Colby: Definitely. Yeah, it is helpful to have tutorial videos or whatever. But who do you really ask your questions to? And how quickly can you get your feedback?
Jeremy: Correct. Let me tell you one of the number one complaints I have had speaking to new real estate agents right now is currently in Washington County there is no live class for the real estate exam. It is all online now. I went to Stringham Real Estate School 15 years ago, and I took it all in a classroom, and man, I still remember B. King. That is who it was. B. Carmen. Her name changed. I remember her. She was awesome. And you learn very differently. Yeah, there is no feedback. There is no nothing. So here is what I just want to encourage our listeners to do and then we are going to talk about Ironman. Understand that there is a big massive shift afoot in the world, and when we get so disconnected that we think our best friends are on Facebook, I am going to soapbox for about 60 seconds. You think about how much you interact with people on Facebook versus the last time you called your close friend and said hey, how have you been? It is scary. It is really scary. And as we get disconnected, it will hurt the economy. It will hurt our businesses. It will hurt our kids. It will hurt our families. There is a level of connectivity. So the instant offer program, by the way, is we offer either maximum value or either maximum convenience. And maximum value is we put your home on the open market and we sell it at retail value. Maximum convenience is you have our investment group, who are local. Not Zillow. We walk over. I or Jesse or Jeff or someone comes to your home and we walk through it, and they make you an instant offer, which is definitely going to be below market value because we cannot make sense of buying and selling homes, talk about full disclosure. What am I going to buy your house for 100% of value and sell it for 10% more? 100% is the only possible.
Colby: Yeah, right.
Jeremy: There is no more than 100. Give 110%. There is only 100 available. Right? It is the famous John Wooden story. You talked about that. Where he pulled his team in it and he said guys, I know it looks like you are pretty tired and some of you were probably out with your girlfriends last night or maybe you had a few drinks, and you are thinking Coach, I do not have it all today. I will give 110% tomorrow, and he said there is only 100% ever available. So you cannot make it up tomorrow. Right? So what we are trying to do is keep a human being in the process. If you want to sell your home and you do not want to put it on the market, and you do not want to repair it and you do not want to stage it, and you do not want to show it, and you want to take an instant offer, we have got an investment group that will buy it from you. And it is not Zillow headquarters in Seattle. End of story. Fair enough?
Colby: Fair enough.
Jeremy: Keep teaching. How long are you going to teach for?
Colby: The rest of my life, Jeremy.
Jeremy: I know you are.
Colby: The rest of my life.
Jeremy: I know you are. We are twelve minutes into this. I have done my soapbox.
Colby: It may not always be in a classroom, but always teaching.
Jeremy: I love it, man. So we have Colby Neilson here. Goes by Bags for those of us who know him well. Good friend of mine. You have now been, you have been involved with Ironman, what was the first year you raced Ironman?
Colby: Did I do my race in Arizona in 2005?
Jeremy: It would have been something like that.
Colby: It was right around 2005.
Jeremy: Yeah, down at Tempe. I saw that venue when I was there last week, two weeks ago.
Colby: Or 2008. 2005 or 2008.
Andy: That is a big gap, Bags.
Colby: I did not prep on that information.
Jeremy: No he did not. So he and his brother-in-law –
Colby: It was right about then.
Jeremy: Yeah, and a lot of you guys know Jeff Gardner. Jeff is no longer involved, but he was really involved in Ironman for a while. So these guys used to race Ironman. See, I was, we cycled together, but I never had the courage to actually go do the Ironman race. I do not know. What am I going to say about it?
Colby: You were always invited.
Jeremy: I know I was. Colby has been involved, he was a participant and then you took over as the director of all the volunteer director for Ironman St. George. What, 2010, right?
Colby: When it started. Yeah.
Jeremy: I saw that banner last night with Michael Vice of Austria on it. That first year. Remember when he won that first year?
Jeremy: That was pretty cool. So tell us about what it means to be the volunteer director. Because we know that he is teaching kids math at Pineview High, but his side job.
Colby: Yeah, so it is busy. What I really have is a good group of captains that are all each over a different area of the event. Right?
Colby: So you have registration. You have packet stuffing. You have aid stations. You have everything out at the lake and wet suits and gear bags and bikes. There are all kinds of areas that need someone to be in charge.
Jeremy: Think of what is involved. How many athletes will come this year to race? 2000?
Colby: 2000 at the start line. Yeah.
Jeremy: 2000. I love that at the start line. Oh, we do not know what happens thereafter. If you think about the Ironman event, and so a lot of people out there listening do not know a lot about it. As a matter of fact, they not only do not know a lot about it. It just seems like a burden because it shuts down traffic for day. Do you remember, man, if we had Kevin Lewis here, he would give us the numbers. $9-10 million or something like that being brought in off the race to the community?
Colby: Yeah, and you are talking not just that week. People, since that initial year –
Jeremy: Nine years ago.
Colby: — it just generates more and more interest. Right? So now people that have come here and raced are now returning and training and visiting and touring and whatever else they do when they come and visit.
Jeremy: Yeah. This is how we feed our kids.
Colby: They will come work out. They will practice on the course. They will come race and they will come back.
Jeremy: I see them as early as, probably earlier, but typically by February the first reasonable weekend you see Ironman athletes here doing training weekends.
Colby: Oh yeah.
Jeremy: Right. Getting familiar with the course. So it drives, so a lot of people do not know what it is. You are talking about let’s say $8-10 million coming in off this event. Off the event. Annually, they are putting tons of revenue into our economy. The event, of course, let’s walk these people through what they are doing. They are at Sand Hollow Reservoir. They are going to swim 1.2 miles. Right?
Jeremy: They are going to get out of that water. We are going to help them strip their wetsuit, one of our 40, 50 volunteers there because it is hard to get your wetsuit off when your hands do not, no longer work because you have been swimming for 1.2 miles and it is cold water. They are going to hop onto their bike damp, and they are going to race, ride how long?
Colby: 56 miles.
Jeremy: 56 miles. Which is from Sand Hollow to where?
Colby: Sand Hollow, it is going to go up and over the Red Hill, out towards Ivins, back up through Snow Canyon, which is –
Jeremy: Up Snow Canyon.
Colby: Up Snow Canyon, right.
Jeremy: Up Snow Canyon. It is a treacherous climb.
Colby: And then once you get to the top, you just coast it on it. All the way back into town.
Jeremy: Yep. And so, cool. So they have already swam 1.2 miles, and they have ridden their bikes 56 miles, and then they are going to run a half marathon.
Colby: Marathon. Right.
Colby: Up the Red Hill and back.
Jeremy: So think about the number of volunteers for all of our listeners out there. It requires so many people to make that happen.
Jeremy: And to pull it off. And the competitors I have heard regularly saying we think St. George has the best volunteer community ever. Like we have never seen an event come off so clean.
Colby: Oh hands down. You have to realize there are a lot of events that Ironman owns or puts on around the country, and I have a traveled to a few others and worked as a crew guy, and I see what goes on. I see volunteers. I see the work that that certain particular town puts into their efforts, and I look back at what we have, and I am like we have people that really understand what it means to go help out and go bring this thing hear and make it something special.
Jeremy: And it is super community-based. And I will point something out.
Colby: It is not like that in other places.
Jeremy: It not like that in other places.
Colby: No, it is not.
Jeremy: That people that realize this, this is part of, man, it is my show. I can say what I want. Part of the benefit of a really, quite honestly like a pretty religious-type community is you have a lot of service going on. And it does not mean that religious people serve, are better than non-religious people.
Jeremy: What happens is a lot of these kids are raised doing service. They do not even want to do it. Remember you are a teenager. You are like I have got to go rake leaves for the neighbor? But in this kind of community in Utah and in St. George, what has happened is quite a few thousands and thousands of the residents were raised, against their will at first initially, to serve. Right? And so it has created this mindset that what we do is we go and we serve. It is really normal. Check this out. By the way, do people want to know where these guys go? How about they race in Boulder, CO, China, Calgary, Alberta, Ireland, France. I am just highlighting. Santa Cruz, CA, Imperial Beach, CA, India, Sweden, Coeur d’Alene, ID, and where is the national championship?
Colby: For a (indiscernible)
Colby: I think this year it is in France.
Jeremy: It is the World Championship. World Championship.
Colby: World Championship. Yeah.
Jeremy: So the World Championship. Right? Then you have the World Championship, but the North American Pro Championship is St. George.
Colby: Exactly. Yeah.
Jeremy: So the reason I point this out is to impress upon people like Ironman is everywhere. They pick the most beautiful locations on the planet and they are having their North American Pro Championship here.
Jeremy: So, let’s talk about volunteers and then let’s briefly touch on trying to be in the World Championship. But we need volunteers.
Colby: Oh yeah, we need many. We need about a couple thousand to make it work like it should.
Colby: With enough people so that it is not overly burdening others. Right?
Colby: But right now, we are at about 350 that have signed up.
Jeremy: Yep, and we need way more.
Colby: And we are a month away.
Jeremy: And we are a month away. So guys, the race is May 4th, and you can volunteer anywhere from the lake, which you are going to be out there bright and early, like 4 or 5 in the morning early. The race is going to be over over, like the last competitor is coming over the line at what time of day? Downtown.
Colby: Downtown. It will be done by 5.
Jeremy: Okay. I was going to say 4 or 5. So I want to tell people where they can volunteer, and I just want to make my own personal plug because I have been that involved. Visit Ironman St George dot com, Ironman St. George dot com. Is it Ironman St. George dot com?
Jeremy: Yeah, it is. It is just going to send you over to their page. But you will see a link to volunteer. Go in. Pick any freaking thing that sounds fun to you.
Colby: Yeah, just scroll down and look through it.
Jeremy: Yeah, scroll down. Hey you want to be involved in athlete drug testing? Maybe you want to be involved in athlete registration? How about this? Athlete registration happens on Thursday, Wednesday, Thursday. You get to hang out at Town Square in beautiful weather and meet people from all over the world.
Jeremy: It is pretty fun. Right?
Jeremy: I am going to make my plug. I was involved in 2010. I was involved in the first five years, and then I kind of went MIA. And I am back this year.
Colby: He is back.
Jeremy: As I was one of volunteer captains. Guess who is back? I am just going to tell you something. If you have got to the St. George Marathon finish line that is the feeling. You go to the St. George Marathon finish line and you start crying. You are like I do not even know these people and I am crying right now. And then you want to race. It is that kind of electricity at the event. And to volunteer, it is just such a blast. Yeah, you get a free t-shirt, but you feel like, you do not feel like, you are part of something that day. And the athletes, the thing that is cool. The average Ironman competitor is they are wealthy. They talk about the demographics. These people, they are doing well for themselves, right, all over the planet financially, and they come here, and they are very, very appreciative. The athletes are high-fiving. They are thanking you. Right?
Jeremy: It is kind of an incredible experience.
Colby: It is an incredible experience. A lot of these athletes, you do not know if this is their first time for this type of major endurance event or their fifth time.
Colby: But either way, it is a goal. It is a dream of theirs, and we as volunteers, we are helping this dream become a reality. Right?
Colby: We are encouraging them. We are offering our services if you are at an aid station or if you are helping them with their bike or whatever, you are a part of this dream of theirs.
Jeremy: Of this, I love this, and you have always said this, man. This is like your great case. Right? The sales pitch to volunteer. And by the way, the benefit of volunteering is you get the incredible prize of feeling really happy. Right? Which is better than any fee. But you do not realize that every athlete that comes to town, they have a story.
Colby: And like American Idol –
Jeremy: This is Jim Smith from Travers City, Michigan, but there is a story.
Jeremy: Every one of them. They do not have to have this crazy life story that they came out of a fire and raced Ironman. They all have a story.
Colby: They all have some pathway that got them here.
Jeremy: Yeah, it is a dream, and a lot of people are just two minutes, perfect, hoping to finish the race. Right? Most of the competitors are not competing. They are finishing. They are completing. I talk about competing versus completing. 2021, this week at Town Square, we had the little pep rally. St. George is bidding. We call it bidding to become the World Championship host in 2021.
Colby: Right. So it is coming back to the North American continent that year, so we are going to try, we did our best. There was a lot of excitement and a lot of fun downtown, just trying to sway them, let them know hey, we have the people that is going to make this work. Which we do.
Jeremy: We do.
Colby: So whether we get it or whether we do not, either way, we have got the folks that make this happen.
Jeremy: Yeah, we have a volunteer community. We have a service community. Guys, please.
Colby: You just need to go sign up and get started.
Jeremy: Visit Ironman St. George dot com or if for whatever reason, if you are just cruising along, just google Ironman St. George.
Colby: Hey, if you have got a group, that is even better because we have, Ironman donations that you can apply for. If you have questions, my email is right there when you go to sign up to volunteer.
Jeremy: So you are saying a service group, like scout troop, a Boy Scout, a Girl Scout troop –
Colby: Yeah, a church group, community groups –
Jeremy: — a church organizations.
Colby: — clubs.
Jeremy: They actually get financial support, right?
Colby: They can, yeah.
Jeremy: They can. So guys, Ironman St. George. Colby Neilson, volunteer director, always love having you, man.
Colby: Always a pleasure.
Jeremy: Visit and sign up to volunteer today. Sign up your office. Sign up your family. Sign up your parish, your ward, whatever you do. Get a group and come on out. May 4th. It is going to be fun. All right. Over and out. Thank you.
Andy: All right. News radio 94.4, 890 KDXU. This has been the St. George Real Estate Morning Drive, Jeremy Larkin, Bags Neilson here, and Jesse behind the scenes.
On this week’s show Jeremy Larkin and Jesse Poll of The Larkin Group at KW Realty discuss Zillow.com. The fact that Zillow is here to stay, consumers (want) to trust them, and how to determine if they’re your friend or foe when buying and selling real estate!
Andy: We are still doing the technical part of things.
Jesse: Yeah, I was having some technical issues here this morning.
Jeremy: We were.
Andy: That is always an issue –
Jesse: All of the above.
Andy: We have got all the, like in this room, if we count our phones, we have like nine computers in this room. There is a laptop. There is like three desktops. We have three phones in the room. I think we are going to be streaming on Facebook Live. All kinds of things. Right, guys?
Jeremy: I actually just hung up with NASA and they have their super computer headed here on an 18-wheeler. So we are going to get that set up shortly, and your mind is really going to be blown.
Andy: Yeah, looking forward to that.
Jeremy: That is not bad, is it? Jesse, can I trust Zillow for my home value? Can we answer that question today?Andy: KDXU news time. 8:35. Welcome to the St. George Real Estate Morning Drive with Jeremy Larkin. We have really just one issue right now and Jeremy Larkin is not in the house yet. I think he is in the house. He is not in the room yet. But we will get things started and start talking about St. George Real Estate. A lot on the mind and what are your thoughts as we get things going early with Jeremy in the other part of the building? You got any ideas for me? He is still working on the technical side of things. Maybe we will keep the music going a little bit longer. If you are in the real estate market, you ought to check in with the Keller Williams team, or the Jeremy Larkin team under the umbrella of Keller Williams Realty, and it is a great time of the year to make that move to maybe your dream house. Or maybe you want to downsize if you are in a situation where perhaps your house is too big. That is kind of where I am at right now. I had raised five kids, but I have got this big old house and only two of the kids are left. So I start thinking about things like downsizing and changing the situation in my household. These are the kind of things that you think about. Dream house. Maybe you want a pool. Maybe you want a pickle ball court in your backyard. Whatever it might be. This is a great time again to contact the Jeremy Larkin Group at Keller Williams Realty. He just made it in the house, so that makes me a lot happier. I do not have to sit here and filibuster a little bit while we wait for Jeremy Larkin to join us. He is here somewhere, and he is looking rather dapper by the way as well. You ready to talk a little bit, guys?
Jesse: Yes, sir. You have got to push play on the other one, too.
Jeremy: Oh my gosh.
Andy: Oh, that is a good question.
Jesse: Yeah, we can.
Jeremy: Yeah, can we?
Jesse: Well, it is actually –
Jeremy: We can answer the question or can we trust Zillow?
Jesse: Well, I do not think you can trust Zillow without doing a lot of homework because they do not know, they do not have access to the real closed data and they do not know what your home looks like or has or anything. I can give you some good examples of that, if you would like.
Jeremy: I would love to hear. No, the listeners want to hear.
Jesse: We just saw a home over in the Legacy the other day, and Zillow says that it is a 4-bedroom, 8-bathroom –
Andy: Eight bathrooms?
Jesse: — so I know for a fact that this home has got three bathrooms.
Jeremy: Ah, the old eight-bathroom home. We know everybody loves that one.
Jesse: So chances are they are giving them probably four grand each for one of those bathrooms, so if they have got five extras, that is what? $20,000 extra that they are getting for their home value or their Zestimate?
Jeremy: Yeah, it is crazy. It is crazy, which is insane, right?
Jeremy: Which is insane. So I had somebody yesterday reach out to us and they said hey, I want to look at my Zillow home value. What do you think my home is worth in Bountiful? I said is your home 2700 feet? They said yeah, the main floor is 2700 feet. What do you think happened, Jesse? What do you think was missing?
Jesse: Their basement because in the state of Utah it counts basements differently and Zillow cannot track that.
Jeremy: Yeah, imagine that. Imagine that, Andy, you go on to Zillow dot com thinking of hey, I am going to find out what my home’s value is. I am just going to go ahead because I heard that Zillow, I saw these Zillow ads, and the Zillow ads are so lovely. They feature these families that are doing great family things like making pancakes. We saw one. We are going to talk about making unicorn pancakes, and we are going to talk about an instant offer program today. And you go on there thinking well, I will see what Zillow says my home is worth, but here is the problem. Zillow only, if you have a basement, they do not show it.
Jeremy: They do not show it. Jesse, what would that mean to a consumer? Value-wise.
Jesse: Oh quite a bit. Probably half as, so on a basement, you will get about 40% more, less value than you will on your main level, so you may be missing 30-40% in your Zestimate value.
Andy: That is a lot of money.
Jeremy: It is a ton.
Jeremy: It is a ton. All right, guys. We are going to do Facebook Live here.
Jesse: We are getting our technical difficulties situated.
Jeremy: We have got it figured out. We had to reboot the system. So just envision, for our listeners out there, I am Jeremy Larkin, host of the St. George Real Estate Morning Drive, and I drove and it was morning and it is beautiful out there. But you are talking about you could be missing 50 to 100 grand.
Jesse: You could. Definitely.
Jeremy: And vice-a versa. It could be over. For a good instance is that bathroom. Their Zestimate is probably is $30,000 over what it should be.
Jeremy: Yeah. Yeah.
Jesse: What it would sell for in the market.
Jeremy: Absolutely. This is an issue, and we just went Facebook Live, so if you want to watch this morning on Facebook, Facebook dot com slash St. George Experts. Facebook dot com slash St. George Experts. Check it out. Actually, you know what? I lied. We are actually Facebook dot com slash Jeremy Larkin.
Jesse: It is on your personal page.
Jeremy: Yeah, I apologize. Facebook dot com slash Jeremy Larkin. We want to answer some of the most typically asked questions that we see in real estate, and the first one is can I trust Zillow for my home value? Now, Zillow is up to something else, Jesse, which is their Instant Offer program. What are they doing?
Jesse: They are going in to markets, and they will actually give you an offer for your home. It is right there. Hang in there. So they will give you an offer for your home and buy it.
Andy: Zillow will?
Jesse: Yeah, they will.
Jesse: And then they will turn around and sell it for market value. So that is a good thing to keep in mind that they are actually going to turn around and sell it so that the chances that you are getting market value for that home are slim and one.
Jeremy: Yeah, they are slim and none, not slim to none. Thank you. So there is a video that I watched yesterday. I guess it was released to YouTube. Zillow dot com slash offers, and here is the fun part. Here is the great part. So many real estate agents love to hate Zillow. They love to hate Zillow because Zillow, of course, is trying to take the real estate agent out of the process very subtly. So instead of running from it, we are just going to talk about it on the program this morning. So Zillow dot com slash offers, if you would like to see what that looks like. People are going to find it anyway.
Andy: Grab the bull by the horns, right, Jeremy?
Jeremy: Yeah, here is the issue. Zillow is going to make you an offer, an instant offer, online, without ever having seen your home. The offer will be subject then to them sending in a real estate professional appraiser inspector and deciding what they really want to pay for it. Okay? So first of all, Andy, if they come in and offer your $400,000 for your home it does not mean they are buying your home.
Jeremy: Right. There will be tons of fine print that says oh, that is subject to this. So here is the fun part. We saw that Zillow was doing it. What do you think we started doing? We said we have got an instant offer program. And the reality is we have an instant offer program. So if you visit Sold in St. George dot com, Sold in St. George dot com, you will see a big old button that says instant offer.
Jeremy: Now here is one of the challenges. So Zillow is doing this. Who else is doing that? IBuyer?
Jesse: IBuyer. Purple Door.
Jeremy: Purple door. So here is what is happening. They are coming in. They are making an offer, and then they are charging a buyer’s premium of some kind which is like 3-5% of the purchase price. Right? There is no commission, air quotes.
Jeremy: Good morning all of our Facebook Live viewers. If you have got questions, we want you to ask them. But they are going in, hey, Andy you should vote for us for Best of Southern Utah. Right there. It is right on your screen. Just two clicks, man. Two clicks.
Andy: I have got to do it now. Yep.
Jeremy: So I was just watching it with Best of Southern Utah. So they come in and they make an offer sight unseen, which is subject to them actually inspecting it and deciding if they want to buy it. And then they charge this strange fee, this strange buyer premium fee, which is just wacked out. Right? So the next thing you know you think are getting 400, but the reality is you are actually getting 360. Let’s flip this on its head. We can bring a local investor in right now from St. George who will make an offer to buy your property, close in seven days, cash, with no strange strings attached. Really simple. They will buy your home. It will sell for blank. You will get blank if they buy it cash. Or we can put it on the market, distribute this thing to every single real estate agent on the planet. Zillow dot com included, smile and a wink. Trulia dot com. Homes dot com. Realtor dot com, all these websites, and we can sell it at market. By they way, in most cases, you will get more selling your home at market. But here is what they do on the Zillow offer ad. They show this dad in the kitchen, and he is really having a good time. He is making pancakes. And then you see he is trying to make a shaped pancake, and it says, excuse me, making unicorn pancakes is hard. And the music plays. But you know what is easy? Selling your home. And he is sitting there and bing, bing, bing, bing. His phone bings, and he is in his apron and he is talking to his child and he looks over and it says you have an offer from Zillow. 365. He goes oh. I hope our listeners can see. Do you see the face? It is the raised eyebrow look. Like hmmm, well that is interesting. Let me finish making these pancakes. So easy. Like hey, just pack up your belongings and they will be here tomorrow. But that is not real. That is actually not real. You have to understand that. So we want to go straight to our consumers here in Washington County and say look, if you want an instant offer, we will make you an instant offer.
Jeremy: Literally right now. We have an investment group who will purchase your home cash. Let’s talk pros and cons. So the pros are you sell your home in seven days, if you want to sell it in seven days. You could sell it in 45 or 90.
Jeremy: The investors are real flexible that way. But if you wanted to be out in seven days, if all the boxes are checked and things work out, then it could close in seven days cash. It is a cash deal. It is not contingent on an appraisal. It is not contingent on a loan. Right? And you do not have to prepare. You do not have to stage. You do not have to make beds. All those things. Now here is the flip side. That is what Zillow is trying to get people to do. Hey, look how easy it is. But see the difference is we are not going to pitch to you that it is just so much easier that you should do it. No, no, no, no.
Jesse: Well, in any part of our life, convenience comes with a cost. It always will.
Jeremy: Right. Right.
Jesse: It always will.
Jeremy: Right. So we would not propose to you that you should be doing this because it is easy. You should be doing this because for some reason it makes sense that you have got to get out of there fast.
Jeremy: Otherwise, we will take your home. We will put it on the market. You will have to do some work. We will require you to do some work because you are going to say to me I want the most money for my home.
Jeremy: And I am going to say well, if you want the most money, then you have to do the most prep work –
Jeremy: — which we are going to guide you. We are going to hold your hand. We are going to walk you down the road. We are going to schedule all the showings with you. Yeah, you are going to need to make the beds. You are going to need to close the toilet lid. All that kind of jazz. If you have got dirty clothes on the floor, you had better just kick them under the bed. I do not know what to tell you. Those things are going to have to happen, and it is going to be a nightmare in some ways, but you probably will not be sad if you get the money at closing.
Jeremy: So just be aware. Just be aware that these groups, Zillow is a big, massive entity. It is a behemoth, and they are a company that is actually running no profit. So it is one of these strange Wall Street things. They are running no profit, but they are multi-billion-dollar corporation, and their goal is to set themselves up as kind of the replacement to the real estate agent, and eventually just have the whole entire thing. So look, people are going to go there. They are going to go to Zillow dot com, look for a Zestimate. Here is what I would say. Go get your Zestimate at Zillow dot com, and then call us and say I got a Zestimate. Can you please produce a courtesy, right, free of charge market analysis for my property, and let me know what you believe it will sell for on the open market? And then we do that and then you have the real information. Then you can compare the Zillow Zestimate against our information. And if you are paying close attention you will notice that they skipped your basement. Right? So kind of crazy. I just think that people need to be aware of that. That we are not trying to get people off of there. They are on there. Good grief.
Jesse: Well, you are never going to get them off of there.
Jeremy: 20% of our clients came to us last year from Zillow. Right? Wasn’t it 20%?
Jeremy: 20% of our clients actually contact us through Zillow. Hey, it is what it is. But buyer beware. Right. This instant offer, the Zillow dot com slash offers thing, you are dealing with a corporation. You could just be dealing with someone right here and get all of your options. Right? And of course, their goal is it seems so easy. You do not even call an agent. You just go oh man, this seems easy. I was making unicorn pancakes for my child, and I got an offer on my phone. I should just get out of here. Right? The rest, as they say, is history. If you would like to see what we are doing with Instant Offers, visit Sold in St. George dot com slash or just Sold in St. George dot com. The Instant Offer button will hit you in the face. Have you voted for Best of Southern Utah today, Jesse?
Jesse: Not yet.
Jeremy: Andy did.
Andy: I just did.
Jesse: Because you have to wait 24 hours.
Jeremy: No, you do not have to wait 24 hours.
Jesse: Oh yeah. It will not let me do it unless it is the next 24 hours.
Jeremy: Oh no.
Andy: So he voted yesterday is what he is saying.
Jeremy: It should not be 24 hours. It should just be 12:01am. I do not know.
Jesse: Oh really?
Jesse: Because the other day it would not let me because I had just voted at like ten o’clock the night before.
Jeremy: Oh just come back once per day. That is what they tell me. I just voted. Folks, visit, if you visit the Best of Southern Utah, we are, over at the Larkin Group, our real estate team, we are aiming to win that title. Some of you saw a Facebook video I posted last week. It was me with my high school yearbook.
Jesse: I was telling my wife this morning that, because she asked me if I could do a Miami Vice pose, and I told her, you know I was voted the most likely to be the next Don Johnson.
Jeremy: Dude. I so believe it.
Jesse: That is the only title I ever got.
Jeremy: I so believe it. At every level I believe it. But if you visit Sold in St. George dot com, we made it easy. You can vote for us right through that page, and yes, cast a vote. It is Jeremy Larkin for Best Realtor and Larkin Group for Best Real Estate team. I have the very best people in Washington County working with me, and there you have it. Whose phone is buzzing?
Jesse: Yours probably.
Jeremy: I do not know. That is kind of weird. Some thing is buzzing. It is in my ears.
Andy: Not mine.
Jeremy: Man, this is weird. All right, Jesse. Should we talk about a couple other questions that these guys are, that these folks out there are asking?
Jesse: We can, but I am going to depend on you because my laptop died.
Jeremy: Did it die?
Jeremy: Oh man. So this is going to be really good. So we talked about answering the best questions, the questions here in Southern Utah that people have been asking. These questions from our 2019 Parade of Homes survey. And many of you will remember that we created a survey and asked folks questions about the market and just to find out what they were doing and then we turned around and we had about 140 people respond to our survey, maybe 150. Okay, what about, Jesse, are there good options for young couples who just graduated college? I am going to qualify that because it does not have to be just graduated college, but let’s call it young couples, just graduated college. Let’s guess that these are couples that are in their like 22-25 years old range. Okay? Are there good options? Is buying a house a good idea at this stage in life? What do you think?
Jesse: I think it is because you can step into a starter home and start building equity, start building your life, and it will help you think differently. It really does. The home ownership is almost like the next step in life. It is like having a kid. It just changes your life.
Jeremy: Is there any reason, and we will back into this, are there good options? Is there any reason that they wouldn’t buy a home at this stage in their life? What would be good reasons to not purchase a home at early 20’s, graduated from college?
Jesse: If you are not really sure you are going to be here say two years –
Jesse: — then it does not make sense at all because if you end up having to sell that you will end up possibly paying capital gains and that could hurt you.
Jeremy: Bingo. Yeah. Absolutely, so a lot of these couples, they are not permanent here.
Jesse: It just depends on what are you doing.
Jeremy: Yeah, at least two years, and Jesse says at least two years because if you stay in a home, sell a home less than 24 months after you purchase it, you are going to be paying what is called capital gains taxes.
Jesse: And there is no way around that.
Jeremy: No. There is no way around it at all. But let’s take this a step further. How long should people really be in their home? Like if we want to wait out a real estate cycle, what are you thinking?
Jesse: Five to ten years.
Jesse: Because every cycle for the last what, 70 years has been up and down every ten years. Five up, five down.
Jesse: Five up, five down.
Jeremy: Absolutely. There is no question. Right?
Jesse: But let’s kind of hit on that. So with that said, we are probably in the height of a market, and does that really mean that they wait? I do not know that it does. If it makes sense to buy a home.
Jeremy: Okay, let’s pretend that I am young couple. Okay?
Jeremy: Just graduated from college. Maybe have a baby or two, maybe do not have any.
Jeremy: I buy a home, but there is a concern that in the next two to three years that my wife, let’s say, or if somebody says their husband, one of us might get a nursing position in Salt Lake City, and we might leave.
Jeremy: But we really want to own a home right now. So what is going to happen when we go to leave? Do we have to sell it?
Jesse: No, you could actually make sure that you buy one where you could possibly rent it.
Jeremy: He is following my cues real nice.
Jesse: Okay, so in that case, and as long as you have lived in a home the last two of five years, it is not technically an investment property –
Jesse: — so you could still wait out a market and sell it say five years from now and be safe.
Jeremy: So you are saying my monthly mortgage payment is $1400 a month. I could theoretically rent that home for $1400 a month. Or fifteen.
Jesse: You would have to check on that, but possibly yes.
Jeremy: You would want to do some research.
Jesse: You can either definitely offset the rent or get all of the mortgage paid with the rent. That is a good possibility, but I would make sure that you prepare, think about that first.
Jesse: Because you do not want to have to have the money in the bank or –
Jeremy: What are options though? For these young people, what are the options? And for my team out there who are watching and listening, what are the options?
Jesse: There are plenty of options, but you really have to do your homework and you have to be quick on the draw. Because a young couple is probably going to be under $300,000.
Jeremy: And maybe under?
Jesse: Under 250, which is really a tough market still even though we are getting more inventory. My biased opinion is you have to have a good agent that has feet on the ground for you and is really looking because the homes that are the best value that are the right homes are selling so fast you do not see them.
Jeremy: They are gone.
Jeremy: They are gone. So a couple of things. So there are some options.
Jesse: There are.
Jeremy: But, Jesse, I can only afford a $2500 car. There are no options for me. There are.
Jesse: There are.
Jeremy: It is just I had better set my expectations –
Jesse: Yeah, look where the expectations are.
Jeremy: And this is the same thing. And where I am going with this, right, Andy, do you have adult children? How old is your youngest?
Andy: My youngest is 15. My oldest is 27.
Jeremy: Are they homeowners?
Andy: My oldest is, yes.
Jeremy: The reason I ask you that is you have kids that you could counsel. I do not quite have a child buying a home yet. But do you think that the expectations of young people today, because of the wealth that has been enjoyed the last 30 years are different than the young people 30 years ago?
Andy: Yeah, I think so. We did not dream of buying a home at 21 years old. There is no way.
Jeremy: And the reason I say this is by the way there has been such a beating up of millennials and Gen Y and this, that, and the other. These kids are terrible. Here is the deal. We are all just a product of our upbringing. So these kids do not even know what it was like because we did not have the internet. Well, of course, they do not know. There is no reason to assault people because they grew up when they did. Just the reality is that there is so much wealth right now. Right? And when you were 21 years old, it was like man, if people could get into a 1000 square foot, two-bedroom, no bath, young and married, especially my parents, who are older, who are 78, for them to own an 800-square-foot something was like a dream.
Jeremy: Yet what is the perception now, Jesse? I drive down there to Little Valley and what do I want?
Jesse: You want that $400,000 house.
Jeremy: I want a $400,000 home.
Jesse: And also the perception a lot of times is I will just wait for the market to come back down.
Jeremy: Yeah. Yeah.
Jesse: But what they do not think about is when that market comes back down, it most likely will be interest-rate driven. That $400,000 house that probably is not going to go down by $100,000.
Jesse: We are not going to see a crash.
Jeremy: That is not happening right now.
Jesse: But that $375,000 house is now more like a $425,000 house because the interest rate has just went up.
Jesse: So have you shot yourself in the foot by not really thinking that through?
Jesse: I think that is what we are going to see.
Jeremy: Keith asked a question. Let’s just segue there. Are home prices up right now in St. George or has higher interest rates stopped any increase in prices? Well
Jesse: They are still up.
Jeremy: Yeah, they are still up. They are still up. Are they going up? No. They are not currently going up in Washington County. Maybe in a pocket here or there. I just listed a Coral Springs condo, which is going to be kind of interesting. We will be listing it for $309,900.
Jeremy: Interestingly, there are three that just closed at 290, 295, and there are two under contract above 300.
Jesse: That is crazy because you know three years ago when we talked to him –
Jesse: — that was 250.
Jesse: Holy moly.
Jeremy: So here is a pocket and the pocket is this. They are selling homes, like they are vacation rentals. Remember we talked about nightly, weekly rentals. They can be a vacation rental. Well, they are selling Coral Springs for say $300,000, 310. Across the street, literally across the street, Cole West is building new vacation rentals for 500.
Jesse: Four to five hundred. Yeah.
Jeremy: So, what you have is a little micro-pocket there where the buyers look at them and go oh, well, gosh, I would love to buy a $500,000 vacation rental and then they would walk across the street and say I guess I will buy one that was built in 2007.
Jeremy: And 2007, it is the big rock fireplaces and the dark trim and the
Jesse: They are pretty cool.
Jeremy: — dark doors. Yeah, they are really cool. It is just a different style, and so some folks just say I will just take that style and I will paint it. Right? So folks, if you have not done so yet, we would ask please if you will vote for us. Sold in St. George dot com and cast your vote. That will pop up. Vote for the Larkin Group. Jeremy Larkin. Best in Southern Utah. Jesse, thanks for being on and handling things as we were having techno difficulties.
Jesse: Sorry for the technical difficulties.
Jeremy: We got it, man. We are off to the races. Have a great week.
Andy: Thanks, guys.
Is St. George Over-building Vacation Rentals? Real Estate Radio w/guests Ty & Pam Isham (St. George Real Estate Radio Show)
Today, Jeremy Larkin brings guests Ty and Pam Isham of My2ndHomeVacay.com to talk about the Vacation Rental boom in Southern Utah! The Ishams manage dozens of nightly/weekly rentals, interface with the owners and of course, would-be buyers of these properties. Tons of amazing info on the market, enjoy!
Andy: 8:35 on News Radio 94.9, 890 KDXU. Every Thursday we get a little taste of St. George Real Estate. It is the St. George Real Estate Morning Drive with Jeremy Larkin. Jeremy, take it away.
Jeremy: Good morning, ladies and gentlemen, ladies and germs. Ladies and germs, right, Tai? Tai is in the background. He can yell. Hey, I have got some fun guests here today by the way. I like to go with the lady’s name first, which is Pam.
Pam: Hi, good morning.
Jeremy: Yeah, and Tai Eisham. And on the Facebook Live you are going to like this because we always put a title. And I said this morning, let me pull it up, guys. If you are not watching Facebook Live, you had better be. So you can listen to this show 94.9 FM, 890 AM, Facebook Live, YouTube Live, shoot, man, I think we might even have just the government downloading it straight into your brain. When we figure that out. I said Pam –
Jesse: If you pay them enough money, they might.
Jeremy: Yeah, I said how cool is that and a glass of milk?
Pam: And a glass of milk.
Jeremy: Yeah, like how cool is that? So we are going to have Pam on momentarily after we listen to ourselves talk. Right, Jesse?
Jesse: You love to listen to yourself talk, that is for sure.
Jeremy: That is why I started a radio show. Let me go ahead and do something. Guys, I am going to do something live on the air. I am going to encourage you to do the same. I am going over to, I am letting my fingers do the walking. Who remembers that? Who remembers what company that was? It was one of the phone companies, but which one was it?
Jesse: I cannot remember.
Jeremy: Let your fingers do the walking?
Jeremy: Was it?
Pam: Was it?
Jesse: I cannot remember.
Jeremy: Okay. Let your fingers, Yellow Pages. It is just Yellow Pages. Let your fingers do the walking.
Jesse: I was going to say that but then you said phone company, and I am like phone company, they are not a phone company.
Jeremy: Yeah, yeah. Hey, Jess, kick that door because we have got guys, I think, they are having a drunken party down at Devin Dixon’s office on the ESPN radio right now, which is really early for those guys to start drinking. Right? 8:37. Thank you. Guys, visit Sold in St. George dot com. Jesse, will you tell them what you are doing by the way?
Jesse: This is so exciting.
Jeremy: I am going to cast my own vote for myself right now, for us.
Jesse: We are going to do that. So we actually have been nominated for the Best of Southern Utah, the Larkin Group. Actually twofold, Jeremy and the Larkin Group.
Jeremy: Best Realtor and Best Real Estate Team.
Jesse: So we would love your help in that. Jeremy posted that thing the other day that said the last time I won anything was in high school.
Jeremy: It was the Class of 1993 yearbook, and I hope, I hope some of the people that I care about are watching right now. It was when I won Biggest Comedian for the Preference, ’93 Preference. Okay? No, Andy, it is real. Go to Facebook, man.
Jesse: He did. In all seriousness, if you know who the Larkin Group is and you know who we are, we are all about trying to do the right thing and be the best that we can be. So if you have done business with us or if you love what we deliver and the value that we give, we would love the opportunity to win that contest.
Jeremy: Thank you, man, for that description. So you just visit Sold in St. George dot com and the way that we rigged out website, it is so fun. It pops right in front of you and says vote here. And here is the cool part. Two clicks. You click it opens. You click, you voted. There is no email. No phone. No nothing. It is one of the most killer platforms. I did not build it. Another media company in town did, a competitor. So please vote for us over at Sold in St. George, Sold in St. George dot com. You can actually vote every day until March 15th. I know we will not count on that for most of our listeners, will we now? Will we now? Thank you, Robert for posting that. Morning to our listeners, viewers, watchers. I have always wanted to start a watch party. Can we try that sometime? Let’s start a watch party.
Jesse: A watch party?
Jeremy: I do not know.
Jesse: Is that on Facebook?
Jeremy: It is on Facebook. Guys, momentarily, we are going to have Pam Eisham on, and Pam and Tai, they manage short-term weekly rentals. Some of you might have heard on Tuesday I landed here with Andy in the, whew he is giving me the thumbs up, I landed very last minute on the Open Mic Show and we talked about vacation rentals and short-term rentals. I wanted to give you a teaser, okay? Because yesterday she asked so responsibly what questions, and here are the questions I asked her that we are going to talk about today. Thirty seconds, what do you do? In one minute or less, how did you get into the business? How many units, vacation rentals do you manage? Who are your clients? Who are the people who buy vacation rentals and need them managed? What kind of income do they bring? How much money can they make? What are the biggest concerns owners of vacation rentals have? What does it cost to have it managed? What is the biggest challenge you face managing short-term rentals? How does someone contact you? And what is your general opinion of the short-term market? This is like, and I have said this on the air, this is the news at 10:01. They go hey, stay tuned for the most important story, which will be on at 10:29PM at the very end of the broadcast. But we will not go that long. So momentarily we will have Pam on, but I am Jeremy Larkin, host of the St. George Real Estate Morning Drive. I have got Jesse Poll here, who has really become, he has become my co-host.
Jesse: That is right.
Jeremy: Andy Griffin, we took his microphone and headset away as part of a punishment. He is in a timeout this morning. He has got his headset. We just took his microphone away. And if you will please cast your vote over at Sold in St. George dot com for the Best of Southern Utah. And I would be curious, see, I am trying to track, do you know what I did. I created a Google document yesterday with all of my favorites companies that I am voting for, and I am actually voting for daily. Literally. I have my own list.
Jesse: So where do you go to find the whole list of all the companies in the different categories?
Jeremy: So, this is perfect. So if you want to go over to Best of Southern Utah dot com. Best of Southern Utah dot com.
Jeremy: And you can vote. My gosh, you can vote for just about anything. I think there were 900 companies nominated in I do not know how many categories.
Jeremy: I do not know.
Jesse: I am going to go look at that.
Jeremy: Yeah. Let’s talk about short-term rentals.
Pam: Talk about short-term rentals.
Jeremy: Let’s do it. So I have got Pam here. She is lovely. I have Tai just lurking in the shadows, probably like he has done most of their marriage. I do not know. Is this a metaphor? Is this a metaphor? He is back there. He is sckulking around. I love it. I love that he is in the studio. I have Pam Eishman. And Pam and Tia are actually past clients of ours –
Jeremy: — that we have worked with in the real estate world. So thank you for, I always say, helping us feed our families because literally you did and you do and you guys have referred us business, and we are working on referring you business now.
Jeremy: Which is going to be awesome. So, give us a 30-second synopsis like we talked about earlier. What is your company and what do you guys do?
Pam: Yeah, essentially what is our company? So we are vacation rental management company. But then I thought hard about what do we do, right? So what we do is we provide great experiences for our owners and our guests. It is our ultimate goal that people build memories when they are with us. Right?
Pam: People come to our area for many things, and what we want them to do is be able to come and put their feet up when they come into one of our units and feel like they have just come home. It is their second home. It is a place to kick back and have all those comforts.
Jeremy: It really is. When I was on Tuesday, I actually relistened to the show. Andy, it was funny. Yesterday, I (indiscernible) doing something else, and I was even giving, getting a kick out of myself. I said I am user. Dot, dot, dot.
Pam: I heard that.
Jeremy: So that is why I do it.
Jeremy: I saw the funniest story the other day. It was a Facebook story. A guy, I do not know how it got in the news, but KSL had it on their Facebook feed, and the guy is looking at long-term retirement housing. Like when Mom and Dad get too old and they put them in, not a care facility, but more like –
Pam: Assisted living.
Jeremy: — like assisted living. And he was talking about the cost, and this guy had written blog about it. A blog or a Facebook post, and he said here is the deal. It is X number of dollars per day to stay at one of those things. He said I am actually going to go to the local Hilton, whatever it was, and his city was $59 a day, and it had free breakfast and they have a pool and everything. And he literally had said that is where I am going to retire to. And it is comical because there is no reason he cannot do that. But what it brought up is for me a hotel is not like a condo, a home, a vacation rental.
Pam: No, not at all.
Jeremy: It just feels like a hotel.
Jeremy: Like they are going to come in and change the sheets in the morning. I guess that is fine. I hope they change them. There are a lot of horror stories about that. Isn’t there, Jesse? So home away from home.
Pam: Home away from home. And I have actually had older people talk to me about that very thing. Like maybe they want to travel. They want to give up their home, so they just vacation home hop. A month here, a month there.
Jeremy: Yeah, have you guys ever, and I mentioned it yesterday, Jesse. Would you raise your hand? No. Have you ever checked out at all what we talked about Tuesday which is the home swapping?
Jeremy: Yeah, that is kind of cool.
Pam: Yeah, I actually have had a couple of owners talk to me about that. If somebody is interested, hey, I would swap.
Jeremy: I want to do it. I want to do it. I really am going to do it.
Jeremy: So how did you get in this business?
Pam: Actually, I started in hospitality way back when I was in college. Having that need to have a little extra money, so I actually worked at the local Town & Country in Cedar City as a housekeeper, and then when we moved here, Tai was actually in the car business selling cars for one of the local dealerships here. And kind of half stay-at-home mom at the time, an opportunity came up just around the corner at Timeshare. So I said why not? So I started there, kind of lower in the ranks.
Jeremy: Where were you at? Like Worldmark or something?
Pam: Yep. Worked my way up through the company and worked in Housekeeping, became the Assistant Resort Manager and then into the General Manager position.
Jeremy: So it is in your blood.
Pam: It is in my blood. I was raised in the restaurant business.
Jeremy: Here is the thing. She is good on radio, isn’t she?
Jeremy: She was nervous about it. I just want to tell you that.
Pam: Yeah, I was.
Jeremy: She is very comfortable. Very comfortable. But what I love about this is you actually do have experience in this realm. Right?
Pam: Right. It is a big difference because of what a guest expects when they stay at a place, even though it is not a hotel, they a lot of times expect the same type of treatment that they would get at a hotel, so having that hospitality background is something that we bring to that so that we can create those great experiences for people.
Jesse: That is really interesting because how many of other property management companies treat it like a long-term rental and it is just not.
Jeremy: It is not.
Pam: It is not at all.
Jeremy: How many? I do not know, but I guess what you are asking. Right?
Jesse: Right. That is interesting because that is a lot different message than I have heard before.
Jeremy: Yeah. Have you done a vacation rental? Have you stayed in one?
Jesse: No. But just talking to different people. We do not, I was going to say you want to make some really good money? How to package for people that want room service to come in.
Jesse: The reason we do not typically stay at a nightly rental is because my wife wants them to come make the bed. And I do not want to do it.
Jeremy: When you said room service, I thought you meant you wanted the $18 cheesecake.
Jesse: Well, that too.
Pam: That is what I thought he wanted, too.
Jeremy: You mean changing the linens. Okay.
Pam: We actually offer that. For a price, people can actually schedule that in advance. We will actually even go get their groceries for them.
Jesse: There you go. So there you go.
Pam: Have them set up.
Jeremy: There is so much.
Jesse: I did not know that. I was not a read-in.
Pam; Yeah, we can do that.
Jeremy: Yeah, why don’t you stop being such a, what is the word here?
Jeremy: Man, isn’t it funny that my brain just fried out.
Jesse: Once in a lifetime.
Jeremy: Why don’t you actually practice what we are talking about and actually go stay in a vacation rental? You are such a hypocrite. That is the word.
Jesse: I stayed in one in Boston.
Jeremy: Did you really?
Jeremy: That is cool.
Jesse: I have stayed in them.
Jeremy: Okay. You did.
Jesse: And then we come home, and my wife says man, the bed is not made.
Jeremy: I know. I know. She is like this just feels like home.
Pam: It is awesome.
Jeremy: So, Pam, kind of segueing along here, your company name is?
Pam: My Second Home.
Jeremy: My Second Home. Bingo. So you guys now manage, I said 30 on the Facebook feed. I do not know. What is it?
Pam: Yeah, we are at 26 right now and quickly growing because we are involved in a couple projects here in town. So everybody kind of knows that new area out there in Ivins where you have got Arcadia and Paradise. Well, we are actually one of the management companies managing for Ocotillo Springs, just behind those.
Jeremy: I know exactly.
Pam: We have got units selling and opening up so there will be a lot of those to manage here soon.
Jeremy: So here is what I want folks to do here this morning. By the way, I was just looking at our Facebook feed. If you have got questions or comments and you are watching this Facebook Live, please do ask.
Pam: Yeah, absolutely.
Jeremy: We would love it and that would be remarkable. So you have got 26 units and what does, if I am an owner and I want to have a vacation rental, but I wanted it managed because I do not want to fiddle with it, what does someone pay? Like what is general standard?
Pam: Yeah, standard is pretty much in our area is 30%, but it is pretty much across the board. If you look around the United States, when I have looked at other areas, it is 30%.
Pam: Some are a little bit higher than that, but I feel that that is fair.
Jeremy: Yeah, and that is what I have heard. I have heard 25-35 across the (indiscernible) –
Pam: And that is off of net nightly.
Jeremy: Yeah, net nightly. If I have, okay, in a year, what is a typical owner that you have here bringing in annually? I am going to narrow it down momentarily.
Pam: Yeah, annually, it could be, it just depends upon where the unit is, too, and what the nightly rate is for it.
Jeremy: Okay, let’s talk about somebody that has got a Las Palmas unit.
Pam: Okay. So Las Palmas unit, they could be bringing in anywhere from $15-25,000 in a year.
Jeremy: Annually. Okay. What is the most expensive property that you manage?
Pam: Most expensive property that we manage currently is at Estancia.
Jeremy: Okay, so what would they bring in in a year?
Pam: Actually, close to the same.
Jeremy: Isn’t that funny?
Pam: Because here is the thing. Because here is what people want. They want bang for their buck. Right?
Pam: So, when you tend to have a property that is higher-priced, sometimes maybe it does not get quite the occupancy that one does that is more fairly priced.
Jeremy: So Estancia, really quick. Describe the Estancia unit compared to the Las Palmas unit for the listener.
Pam: Okay, so basically the Estancia unit, the most expensive one that we have would be considered like a Presidential suite. So it is like a four-bedroom, four-bath unit, top floor unit, over looks the pools. Right? And one of the neat things about this property compared to some others that we do is we do rent it as a three, a four or a one, which is like a hotel room. We have a lockout on it. So we can actually divide the unit up. Our biggest units over at like Las Palmas, they are actually equally as nice. We have second and third floor units that are three bedrooms, three baths. Beautiful units with lots of square footage. What would you say, Tai? About 1500-2000 in one of those? Yeah.
Jeremy: Yeah, that sounds right.
Jeremy: Marlene asked a question. What is a normal occupancy rate for Arcadia, Paradise, and Ocotillo? Like for annually?
Pam: For annually, I am going to say it is going to be between, because they are still fairly new properties, you are probably talking between 30 and 50% occupancy in those.
Jeremy: I heard, and you guys know Kendall, and I was commenting about Kendall on Tuesday because he was texting me while we were on the air. So Kendall has done a lot of vacation rentals, and we are in this conversation, by the way, of creation versus competition. So, hey we are talking about their competitor. But he is a great guy. These are great people. He was commenting that at some of those places that you are seeing about 60% kind of max. But you have not seen anyone with more than probably 50-60%.
Pam: No, absolutely not. Not with as many rentals as we have in the area right now.
Jeremy: Yeah. There are so many. Are there, and you get to be opinionated here –
Jeremy: — and well remember the reason I say that is because I think people are afraid –
Jeremy: — and I have gotten quite opinionated on this radio show.
Pam: You have.
Jeremy: It is fun. It is fun. I am not quite Rush Limbaugh, but do you think there are too many units being built, vacation rentals being built and zoned?
Pam: I think the zoning is a great thing. I think that we probably have too many being built right now because the problem is with the amount that are being built, they are still a very costly piece of property compared to what an average home is. Right?
Jeremy: Yeah, that is what you said, Jesse, when you commented.
Pam: Except for what that ends up doing is driving down the nightly rate because we all compete. Every single company here is going to tell you that they do like market analysis, right, and we are watching what the prices are. Well, you have got to compete with your competitors and where people want to stay. So that drives down the price, the nightly price.
Jeremy: Yeah, and I have been, strongly think that we are building too many, and I am, remember the litmus test is the notice, did you notice test, and did you notice when you drive around town that everywhere you look there is another billboard or 8×8 sign in the ground that says we are building new units that are nightly, weekly zone.
Pam: I heard you say that the other day, and I see them too. We drive around to see them.
Jeremy: What is going on here?
Jesse: The opposing opinion about that would be is that the City just trying to offset all of the private owners trying to do the nightly rental in places that are not zoned. They either open it up to the City or keep it where they can control it.
Jesse: They are going to be here either way.
Jeremy: Correct. We have 1000 new hotel rooms right now. So 500 just this last year and another 500 coming online. That is a lot of hotel rooms.
Jesse: That is.
Jeremy: This becomes challenging. One of the strongest opinions that I have is I do not really advise for most locals that they are purchasing a vacation rental in St. George. If I were purchasing a vacation rental, I would be purchasing it in Park City, Coeur d’Alene, Idaho. In a place that I want to go. Right? And I want to spend some time in, and then allow these tenants to offset my costs at 30-50% per year.
Jeremy: That is just me.
Pam: So here is –
Jeremy: I do not know.
Pam: — here are two little tidbits for you.
Jeremy: Yeah, go.
Pam: So first one is even though we have that many hotels already, and I know we are building so we may reach that cap to where all of a sudden, we have got too many vacation rentals, too many hotels. But even right now, President’s Day weekend, and you can talk to other managers and they will tell you the same thing because we call each other to help each other. Our phones are ringing off the hook. There is no place to stay.
Jeremy: There is no room at the inn.
Pam: There is no room at the inn because we have got sporting events going on. We have got Parade of Homes going on, and –
Jesse: That is true.
Pam: — we are just packed to the gills. You heard people on the radio complain about the traffic issues and stuff.
Jeremy: Oh, it is, yeah.
Pam: And then the other end of it is as far as locals owning, now I have had several people come to me and I have actually had people that have purchased, and you can talk to other realtors about this as well that are kind of into selling the vacation rentals, but what is really, really interesting is that there are locals that want them. Why do they want them? This is a retirement community.
Pam: So now all of a sudden I find myself in a really small home. Our home is not very big, and we do not want to get bigger because our kids are grown. Now, all of a sudden, the families are growing. I have got three children, five grandchildren, ten children, everybody comes for Thanksgiving –
Jeremy: Oh, I see this. And you want to invite them in.
Pam: Where do I put them? So they buy one to make a little money, but they also can put the family up there when they have got big holidays or summer or whatever it is.
Jeremy: I do not hate that, and I like this alternative opinion. So here is a question. At 30-50% occupancy, let’s call it 50% occupancy because remember, all of our listeners out here, we have got Pam Eisham with My Second Home and they manage second home vacation rentals, basically, right, short-term rentals. Remember that the rate that you are paying per night is high compared to like a long-term, meaning a long-term lease on a Las Palmas unit is $1400 a month. But per night, it is $150 a night.
Jeremy: So could someone cash flow and even make, not just break even, but be profitable at 50% occupancy in their unit here locally?
Pam: Locally, I think if they buy right. They have got to buy in the right place for the right person.
Pam: For example, one of the units in Las Palmas, three bedrooms, three baths sold for like 260-something.
Jeremy: Yeah, it is getting expensive. Paradise Village we talked about. I used Paradise Village for the event posting on Facebook. That stuff is expensive. Pam, who are your owners? Who is an owner? Not by name, but who would be an owner? How much time, Andy? Three minutes. Perfect. Thank you.
Pam: So who would be an owner? So, like you said, a lot of owners are from out of the area. And interestingly enough, a lot of the owners actually are maybe snowbirds themselves, so maybe they want to come for a month or two down here. So they are from Idaho, from Washington, from all over, Oregon, whatever. Right? Northern Utah. We have several from Northern Utah. But, an owner is someone that maybe they want a place to stay themselves or be able to put their kids up, their brothers, their sisters. I have people that do that all the time. Share it with the family, but they want to make a little money on the side, too. Maybe they want to cover their HOA fees or all of their power bills and stuff. They may not always cover their mortgage –
Jeremy: So all of your owners independently wealthy people who just have $500,000 to buy a unit?
Pam: Absolutely not.
Jeremy: Say it with a grin.
Pam: They are people just like us.
Jeremy: The coolest thing about rental properties as we start to wrap this show up, and the coolest part is that, so Jesse, if you have a Roth IRA or a 401K, your employer, if you had a good employer, might match it, but the issue with your Roth IRA is who funds it? Who puts the money in every month?
Jesse: I do.
Jeremy: You do. Right? The cool thing about investment properties is that somebody else pays for it every month.
Jeremy: That is the zinger. By the way, you might, a listener out there might be somebody a dual-income family and he runs a Jiffy Lube and she is a teacher at Heritage Elementary, those folks would be incredible investors.
Jeremy: And you know what is funny? Those people –
Pam: And there are a lot of them out there.
Jeremy: And a lot of them, there are, and yet a lot of them do not think of themselves as investors.
Jeremy: It is like whoa, go get a property. Pam Eisham, thank you. So how do people reach you? Tell us how they contact you.
Pam: You can reach us at My Second Home Vacay dot com.
Jeremy: My Second Home Vacay dot com.
Pam: Vacay dot com. And you can also reach us at 435-313-5143. Glad to answer any questions.
Jeremy: Okay. I am going to give it again. 435-313
Jeremy: Yep, 313-5143. Guys, thank you so much for listening. Thank you for being on the air.
Jesse: Thank you.
Jeremy: You are amazing.
Pam: Thanks for having me.
Jeremy: We are going to have to have you back, and of course, listeners, thank you. If you have got questions about your own real estate situation, buying a rental, selling a rental, or you want to give us a vote for Best of Southern Utah, visit us at Sold in St. George dot com. Sold in St. George dot com. Over and out.
What Realtors & Lender actually get paid for! Guests Chantry Abbott and Michelle Evans (St. George Real Estate Radio Show)
Andy: News radio 94.9, 890 KDXU. Good morning to you. Tell me this guy has the coolest music in the biz right here. It is Jeremy Larkin. I did not even want to turn it down. You have got Jeremy Larkin, St. George Real Estate travel show, and I know Jeremy is trying to get all is tech set up and everything over there. Are you ready, Jeremy?
Jeremy: I loved how you stuttered there. You had a hard time.
Andy: Well, it has been a weird kind of –
Jeremy: I do not know what else to say about it, Andy. Let’s just name the elephant in the room. Right?
Andy: It has been a weird kind of day. You look outside and our red rocks are covered in white snow. I know you had issues this morning with the two-hour delayed start for school.
Jeremy: Yeah, this threw the kids’ schedule off a little bit this morning. No one in this room has a child going to school except for me.
Michelle: That is true.
Jeremy: And there are a whole bunch of us in this room. There are five people in this room. You know what is amazing?
Andy: I have two by the way.
Jeremy: Oh you do have two high schoolers?
Jeremy: Okay. So you do.
Jeremy: That is nice. That is good. So for them, it is cool. They are like I have got to sleep in and I will just drive to school. I have two boys that are going to school at odd hours. So normally the one is going either at 6:55 at the bus stop or he is being delivered at 7:30, and then the other goes at 8:15. So with the radio show and then a meeting at 9:30, I am finagling this kind of thing. It is being finagled as they say.
Andy: That is a good work.
Jeremy: Really, it is. It is being finagled. Today, Andy? Whoops, I dropped my microphone. I am going to invite you to lend that microphone to these guys today because we are going to have three of us on the show today.
Andy: Okay. Okay.
Jeremy: I have got some incredible guests in the studio. Andy Griffin is almost a guest because he is brand new. I have got Chantry Abbot with Guild Mortgage, on the air with us. One of our great friends, incredible home mortgage lender. And I have got, well, why don’t you introduce yourself, Michelle.
Michelle: Hey, Michelle Evans with the Larkin Group. Glad to be here.
Jeremy: I like it.
Michelle: Glad to get here safe and sound in all the slush.
Jeremy: It is kind of slushy out there. It was 33, I think, all night long.
Michelle: Oh perfect. One degree.
Jeremy: And I think that is why school did not get cancelled. So the kids can blame one degree. Because I think at 32 degrees, you would have had some really extra nasty roads and it would have been different. Right?
Michelle: Yeah, I was surprised that they were all right. They are slushy, but it is doable.
Jeremy: Chant, what do you got over there?
Chantry: See this kid is making a snowman. Kind of cool, right?
Jeremy: Isn’t this amazing?
Chantry: Bluff Street Park.
Jeremy: Yeah, it is absolutely incredible. We are at the Cherry Creek Studios on North Bluff Street, which is on the west side of Bluff, up on a hill. And those of us watching our live feed, we are on Facebook dot com slash Jeremy Larkin. Or we are on YouTube Live which is YouTube dot com slash Go St. George TV. But from here we see everything. Like we see everything.
Michelle: It is a great view.
Jeremy: It is incredible. It is amazing. So we are looking out at Bluff Street Park, and the famed snowstorm of 2013, we could not get up this hill, and last night they were forecasting five inches. I would be shocked if we even got two inches. I do not know.
Jeremy: Chantry, what did you get at your house? Maybe an inch?
Chantry: Yeah. But I think there was more in like Santa Clara. I saw some folks this morning that got quite a bit.
Jeremy: Where it is higher.
Chantry: It was pretty hard.
Jeremy: Yeah. I went up to the Ledges last night at 8:30, eight o’clock, maybe to take my kids to a little get together and it was like a full-scale, winter, just a blizzard on the way up to the Ledges. It was incredible. And there was this fog later between here and the Ledges.
Jeremy: So then you were going up and then it was snowing and you could not see, and it was wacky. So anyway, gang, look, clearly everyone knows it is snowing outside, and all of our friends on Facebook are going to make sure that we know that. Are they not? Everyone is going to do that today. So we are going to have a fun discussion. I do not know what Jesse has got going on. He is over there. What do you have going on over there? What is that? My phone died? I do not know, man. Who knows? So we are running Facebook Live. We are going to talk today about what realtors and lenders actually get paid for. Is that fair?
Michelle: That sounds good.
Jeremy: So Chantry has been with us for a really long time. How many years? A decade?
Chantry: I remember working with you back when you were starting to take over all the foreclosures. So that was probably –
Chantry: So let’s say 2010, 2009 or 10.
Chantry: I am tangled with my coat here.
Jeremy: So there you go. I do not know about this phone. So it is funny, guys. We are running a Facebook Live, and for whatever reason, it just died on us. I hope we are still live, but I think we are still going to, we are good to go. We are good to go. So 2009, 2010, you came into our world. Right? And since that time, have you ever been paid a salary to close mortgages?
Chantry: I have not.
Jeremy: Right. Michelle, how long have you been in the real estate business?
Michelle: Going on ten years.
Jeremy: Ten years. Have you ever been paid a salary to sell real estate?
Jeremy: No, so we only get paid, right, gang, when the deal closes. That is the only way to describe it.
Jeremy: Right. And so Michelle and I were in this discussion I think yesterday talking about this dynamic that folks perceive, so this is the perception. So the perception is like Michelle goes out and shows homes and that is where she is doing the work. So the real work she is doing is showing people homes. Like find me a home. Correct?
Michelle: Right. It is all in the finding.
Jeremy: Yeah, it is in the finding. And the perception of course, is that that is where it is. That is where the pay –
Michelle: The value (indiscernible) –
Jeremy: Where the value is.
Michelle: Yes, to open the door.
Jeremy: It is to open the door, and at the end of the day, let’s all be frank with ourselves. What hourly rate could we pay someone to open doors? Could we pay someone minimum wage?
Michelle: We sure could.
Jeremy: Yeah, what is minimum wage anymore?
Chantry: Seven-fifty or something. Right?
Jeremy: Yeah, $7.50 a hour. We could theoretically pay someone $7.50 to open doors. And the issue is that for us in the real estate business, the real work, the real work especially if you are buying a home, right, begins when Michelle?
Michelle: When it goes under contract.
Jeremy: Right. So, what do you mean by under contract?
Michelle: Well, and putting it under contract, too. So it is the negotiation of getting it under contract, and particularly in the last few years where it has been a seller’s market, so you have really got to know your stuff to be able to win that contract for your buyer.
Jeremy: Yeah, absolutely. Right? So the work for the real estate agent happens we, like when it goes under contract, and of course, what Michelle is saying is when we get into the negotiation for the contract. Right?
Jeremy: That is the issue. That is the issue.
Jeremy: You told me a cool story, and Chant, I am going to have you chime in here momentarily. You bought a home here how long ago?
Michelle: Yeah, back in ’05.
Jeremy: Okay, and you were not even an agent at the time.
Jeremy: Of course.
Michelle: I was teaching out at Tuacahn High School and I used Will Potter, who is now our competitor.
Michelle: He was great. He did a great job.
Jeremy: Great guy in town.
Michelle: We had three days to find a home. He blocked that out for us. We looked at 32 homes. I just want to say, so sorry, Will. I am just going to apologize publicly for doing that to you.
Jeremy: 32 homes. That is ten a day. That is a lot of homes.
Michelle: Oh my gosh, we ran the guy ragged. And ironically, we went back and bought the very first home that we saw. Anyway, and then I was teaching out at Tuacahn High School and he called me and he said when is your lunch hour? I said well it is from 12-1 or whatever it was, and he said I need to come out and have you sign this addendum. I said well you do not have to do it then. You can do it later or whatever. I had no perception that we have legal confines, legal deadlines that, he said, no, I need to have you sign this by five o’clock. I was like wow. Okay.
Jeremy: Hey, come on, you do not have to do that. It is fine.
Michelle: Like it is okay. I was trying to be so nice to the guy. Clueless. And what is funny is that I had bought four homes prior to that. So I think a lot of times agents think oh well, they have been around the block. They have bought a home or two before. And granted, I was probably not as smart as most about it. But you just do not realize what is the process once it is under contract? And I think that is probably some of the pushback of millennials. Well, I can find a house online.
Michelle: And we are like right. That is just getting us into the game.
Chantry: And you probably will find it online right?
Chantry: No matter how many –
Jeremy: 95% likelihood, guys.
Chantry: And no matter how much somebody tells you what they want –
Jeremy: 95% likelihood.
Chantry: They know what they want. Right?
Chantry: They cannot really relay it. So look online. That is just the beginning. That is the easy part.
Michelle: Yeah, yeah. That is the fun part.
Chantry: Jeremy, when did you get in the business?
Chantry: That was probably right after they had the books. Do you remember the books?
Jeremy: The books were obviously previous to my time.
Chantry: Not by far though, right?
Jeremy: I do not think by far.
Chantry: Probably late 90s, early 2000s.
Jeremy: What was the MLS called at that time? The Multiple Listing Service. It was called –
Chantry: I do not know.
Jeremy: Oh, what was it? It was this weird –
Michelle: I do not know.
Chantry: So those you that do not know, was it once a month, once a month the Board of Realtors would print out a book with a page for every single listing that was out there. So if there were 500 listings, there were would be 500 pages that would have property for sale.
Chantry: There was not an internet so the buyers could not go find the homes. So they really did need to sit down with an agent and flip through this book and try to figure it all this out and which ones were sold and which ones were not.
Chantry: Now with the internet you find a house on the internet.
Chantry: So anyone can do that.
Michelle: And the contract was so much less back then. So it really was, their perception was correct.
Jeremy: Yeah, we have added five more pages of contract paperwork.
Michelle: It really was finding the house. The weight was more on that.
Michelle: And much less with the contract. Now it has flipped. Now it is reversed.
Jeremy: Well, and let’s understand how buyers, let’s hit that door. These guys are exceptionally loud down the hall, aren’t they? Let’s remember how a buyer finds a home. Right? And so this is really good. If you are a home seller, I hope you will really listen really closely to this today. So what will happen is someone will put their home on the market, and they will be like if I can just broadcast this enough times, if I can just be in everybody’s face long enough, we will find a buyer. Right? But how do buyers, in fact, find the home they want to buy?
Michelle: Almost always online.
Jeremy: But how? When I say how, how does a buyer find a home? Do they go hey, a realtor called me and said they have the home for me?
Michelle: Oh, no never. They are out on the home websites. They are out looking. They are searching themselves. They can do it online.
Chantry: So wouldn’t you say really the only accurate, there are others. Yeah, we talk about Zillow and stuff, but only one that is truly live, real-time accurate is probably the Multiple Listing Service that you have to get by –
Michelle: Primary source. That feeds all those websites.
Chantry: — through a real estate agent.
Jeremy: Yeah, so let’s think about this. Chantry, let’s say that you want to buy a home today. What kind of home would you want to buy? Let’s just have some fun here.
Chantry: If I were to buy a house today?
Jeremy: If you were to buy a house today, what would it be?
Chantry: Let’s buy a million-dollar house in Green Springs.
Jeremy: And what would be a couple basic criteria that you –
Chantry: Really nice swimming pool, maybe a game room in the basement.
Chantry: Four or five bedrooms, maybe a big casita. Kind of know we are dreaming. Right?
Jeremy: Okay. No, we are dreaming. Okay. Beautiful. So what you would do, where would you go to start looking?
Chantry: Well, me, knowing what I know, I would call a real estate friend, one of you guys, and say hey, this is what I am looking for. Set me up on a search.
Jeremy: Yeah, so two things that actually happen. Right? Number one, you call an agent and say set me up on a search. Tell me if you find anything. And then number two, you and your wife at eleven o’clock at night would be on a computer –
Chantry: Yep. Michelle said –
Jeremy: — or on an app searching. And you would be like Zillow dot com. Show me every home that is four bedrooms, three bathrooms, 3100 square feet or bigger, in the Green Springs area. I want a pool. It needs to be under a million dollars, and here is what would happen. You would actually burn yourself out looking, obsessing, you would obsess. Let me explain. This is really good. Jesse, just yell. Am I accurate with how buyers search for homes?
Jesse: Oh yeah.
Jeremy: They will drive their agent crazy searching. Hey, I saw this new one. I saw this new one. Did you see you the new one? Hey, what did you do this weekend? Well, actually we know that we are working with you, but we drove around, and we went in 27 open houses because we figured that somehow what we wanted you were not showing to us. But we could not find anything. And then we went to Craigslist and then we went to KSL dot com and we went to Zillow dot com, and then we came back around. They will literally drive themselves sick and they will get to this point of fatigue where they are like I do not even think I can look at another home. So what I always remind sellers is that if your home is a great home priced in a proper way, will buyers find it, yes or no?
Michelle: Many times over.
Jeremy: Yeah. So here is the other thing that sellers do not realize. Is it the buyer that is overlooking your home? Probably overlooked it like 30 times. Here is why. They tried KSL. They saw it there. They went to Zillow. They saw it there. They figured maybe realtor dot com would have it. They saw it there. They are getting listings emailed to them from five different agents because bless our hearts, that is what we do. We are consumers. So we go around and we see five different real estate signs. We call all of them, and all the agents being agents the way we are, hey Michelle, thanks for calling. Hey, how about we set you up on a home search. We will send you all the new listings in the morning. Wouldn’t that be great?
Michelle: Oh yeah.
Jeremy: Chantry is smiling because that is exactly what we do. I will just get you what you want in the time you want. Won’t that be great? There is a real estate script. They are getting listings from 5 to 10 agents based on their criteria. Are they seeing the home, yes or no?
Jeremy: They have overlooked your home so many times. Actually, you would be offended at how many times they looked at it and said no. We have seen it. No. Right? So we are having this interesting conversation here today about understanding the consumer’s mindset. Right?
Jeremy: So the consumer’s mindset is number one, from the seller’s perspective, well, maybe there is someone out there who does not know about my home. Trust me, everyone knows about your home that is looking for a home, especially if you hired a good agent.
Michelle: And when they come in for a consultation and we pull up a list of homes that they are interested in and I will say hey, I just want to make sure we vetted the process. Have you seen this one, this one, this one? And not only have they usually seen it, but they have named it. Oh yeah, the big tree home. Oh yeah, the lion house because there is lion statue on it.
Jeremy: They have named every home.
Michelle: They are very familiar. They have seen it multiple times on multiple occasions.
Jeremy: And this is a my reminder I would give to sellers. For people who are selling and trying to find a home, I want you to think about what you are doing. You are doing what I am saying the buyer for your home is doing. You know you have seen all the homes. So the buyers come in. You take them out, Michelle, and for $7.25, $7.50 a hour, no pay per hour, you show them homes. And the real work begins the day that you say oh we found a home.
Michelle: Yeah. We want to make an offer. We do not want to let this one get away. So then we start the negotiations.
Jeremy: What kind of paperwork is required to buy a home right now in the state of Utah?
Michelle: Well, you have got the contract, six-page contract.
Jeremy: Real Estate purchase contract.
Jeremy: A Rep-C.
Michelle: Yeah. Then you have got a buyer-broker agreement so that we have –
Jeremy: With the broker.
Michelle: — a right to represent you in the deal.
Chantry: Six pages does not do it justice. There is no inch that is not used. It is a lot.
Michelle: Yeah, it is a lot.
Jeremy: It is 29 sections, 26 sections.
Chantry: It is not like hey let’s just hand this to a, we have seen horror stories when people try not to use a realtor. It is like let’s just take this contract and fill it out and turn it into a seller. There are so many things in that contract that if they do not know exactly what they are doing, they are going to miss out on something.
Jeremy: Yeah, so it is six-pages. There 26 sections.
Chantry: 26 sections, yeah.
Michelle: Yeah, and for example like what loan are you using? What loan are you using? That will determine an additional addendum that is required for that loan.
Michelle: Then there is the buyer due diligence checklist that the state requires that. So that is something to warn the buyers hey here is a list of stuff to be sure that you are checking off so that you make sure that you are making the right decision. That has to be included. And then negotiations go back and forth which will add addenda to the contract. It can get pretty –
Michelle: Yeah, did you like that?
Jeremy: You know what is interesting?
Michelle: Not addendums.
Jeremy: How about this? How about this? Section 8.4, additional earnest money. If the Rep-C has not been previously cancelled by the buyer as provided in Sections 8.1, 8.2, or 8.3 as applicable, then no later than the due diligence deadline or the financing appraisal deadline, whichever is later, buyer will or will not deposit additional earnest money. Any additional earnest money deposited, if applicable, and sometimes referred to herein as the deposits, that the earnest money deposit or deposits, if applicable, shall be credited toward the purchase price at closing. Did anyone hear anything I just said?
Chantry: It is very attorney-speak.
Jeremy: That is one stupid paragraph —
Michelle: Yeah. Legalese.
Jeremy: — of 26 sections of a contract. Right?
Chantry: And I know I should not use this term, but I do tell them when they are working with Michelle or someone that is really good like Michelle that Michelle is your attorney. You can find the house. She has to let you in, and there are a lot of things that she does need involved there, but she is your attorney, really.
Jeremy: Yeah, because they sign (indiscernible) that we are not legal help but we are playing that.
Jeremy: How about this, and by the way, I have got Michelle Evans with the Larkin Group with our team over at the Keller Williams Realty. I have got Chantry Abbott, Guild Mortgage. So Chantry, you are a lender. What about if somebody submits a contract to you and it has deadlines that say that there is a financing and appraisal deadline? You get to deal with that. Right?
Chantry: Yeah, we have to make sure that we have got their loan approved and their appraisal reviewed, and everything looks good, otherwise they are potentially risking their earnest money deposit, which if you do not know what that is, like a security deposit, and sometimes it can be really expensive. We have seen $5,000, $10,000 can be in trouble if they are not having a real estate agent that is taking care of those deadlines.
Jeremy: How many pages in your typical loan contract to close a loan? I do not mean the contract with you. I mean the actual loan agreement with the bank. How many pages? Typically.
Chantry: Like at closing, it is probably roughly 30 pages.
Jeremy: 30 pages. Has anyone ever read one of those? It is epic. Right?
Jeremy: It is epic boilerplate –
Michelle: Take your dictionary.
Jeremy: — legal-speak. Right? So Chantry, what if I turn in the contract to you that says listen, Michelle, wrote an offer. The offer is contingent on an appraisal. It is contingent on –
Michelle: Due diligence
Jeremy: — due diligence or a home inspection. It is also contingent on the seller who is in San Francisco selling their home, and there is an addendum that says that they have just put their home on the market in San Francisco, and they have 21 days to sell the home, and if they do not sell the home in 21 days, then we can cancel the contract and come back. While that is at it, we have a 72-hour clause that will allow other buyers to come in and the other buyers can make offers on the listing that Michelle wrote an offer on and then they could kick the first buyer out of place. Do you see that stuff as a lender?
Chantry: Yeah, quite often.
Jeremy: All of the time. When does the work begin, guys? The work begins at contract.
Michelle: Very much so.
Jeremy: And so if we are selling your home, by the way, the work, of course, begins when we start marketing your property. Of course, right? But we are really more, the day that we sign that listing agreement and we start saying let’s schedule photography and let’s do what we do. But if you are buying a home, the heavy-duty work, that is contract work.
Michelle: And I think that they do not realize that there is a second set of negotiations. So during that due diligence period, that is 10 days, two weeks roughly that you have to get a home inspection done and then there is a second set of negotiations. Because a home is sold as is, but often sellers will defer maintenance and just feel like well the buyer can take care of that.
Jeremy: So you mean there is a negotiation to buy the house and then there is another second negotiation once they have done an inspection?
Jeremy: What if the appraisal comes in low, Chantry?
Chantry: Another opportunity for a negotiation. Right? So I guess that is a third potential negotiation.
Jeremy: What percentage, Chantry, of deals do you see have an appraisal come in low right now?
Chantry: Probably 95% of them are just fine. So maybe 1 out of 20 or something along those lines. There is an appraisal something. Sometimes it is not just value. Maybe it is the roof has an issue that needs to be fixed or things like that.
Jeremy: Guys, it is snowing really hard out there. I just want to interrupt this previously scheduled program.
Michelle: Gosh, it is pretty.
Jeremy: So, Michelle, Chantry, so happy you are with us today. Let me share some statistics with some folks this morning. It is February 21st. We got a little bit of a slow start at the Larkin Group this year. Last year, we had 173 buyers or sellers, families we helped. But we have 21 properties under contract, representing a buyer or seller. We have closed 13. So all that paperwork we just talked about, 13 times we have closed it. We have 21 under contract. We have executed 31 contracts since January 1st, meaning we took a buyer out, went through all that nonsense, negotiated a purchase price, negotiated a deal, went through the inspections, went through the appraisals, went through all the headache. Chantry, does sometimes days before closing a lender, like the underwriting lender come back and say that they need a pay stub from 2007 to prove that these people are actually real?
Chantry: Can. We sure try hard to avoid it but yeah, it is just one of those things sometimes. Right?
Jeremy: Yeah, right. So we have put 31 contracts together like this, and eight of them have fallen apart so far this year. That is the numbers so far. So 8 of 31 have fallen apart. And why do contracts fall out, Michelle? Like what would be the reasons? Why do deals fall apart mostly?
Michelle: They cannot qualify for their loan is a big one. They change their mind is another one. Something happens during the home inspection and if the seller is not willing to credit or repair that issue, then they are like we are out.
Michelle: So that is another thing.
Jeremy: You mean they get scared. They get nervous, they do not like the neighborhood, they do not like the church, parish, whatever they went to. They found five broken roof tiles and maybe they are concerned that, and the list goes on and on. Right?
Michelle: It does.
Chantry: Appraisal. Appraisal does not come out good. There is an issue.
Michelle: Their home does not sell. It was contingent on –
Jeremy: Yeah, they had to sell their home.
Michelle: Their contract fell through back in San Francisco or whatever it could be.
Jeremy: Yeah, the domino chain. Chantry, as we wrap up, final minute. Most important message you feel like buyers and sellers need from a lending perspective today.
Chantry: Yeah, I just think that I have preached about this a bunch of times. But interest rates, we all know at some point, are going to be going up. Right? They have gone up about 1% in 2018. They went up about 1% in 2017.
Jeremy: Yeah. By the way, that costs people 20% of their purchasing power.
Chantry: And that is what I was going to tie it into. Perfect.
Chantry: If that goes up, no, it is great. If that goes up 1% again in 2019, which it probably will, most likely, who knows, but probably, that impacts their purchasing power or their monthly payment by 10%, which means home prices would have to change by 10% or they would have to buy a 10% less home. So I know the price of the house matters. I bought a place in 2007. I still have it. I have a ton of equity.
Jeremy: Worst possible time to buy a house.
Chantry: I have a ton of equity because it does not matter that much unless you are going to sell it next year.
Jeremy: Yep. Exactly. Exactly.
Jeremy: Michelle, thank you for being on here with us today.
Michelle: Thank you.
Jeremy: And for bringing your expertise and talking about what realtors, I was about to say real estate agents, real estate agents and mortgage professionals, mortgage lenders, we get paid to produce an outcome. Right? At the end of the day, we do not get paid for the hours we work because sometimes we work 100 hours and sometimes, we work seven on the same deal. Right?
Jeremy: We get paid to produce an outcome. We get paid to walk somebody through the most complicated and emotional process of their life, and that might include needing to reduce their price if they are selling the home. All sorts of things.
Chantry: I think we protect them through that process. Right? That is what we do.
Jeremy: Bingo. Bingo. Guys, I want you to visit St. George Home Searching dot com. St. George Home Searching dot com because we are talking about the MLS. If you want to look at every single house that is on the Multiple Listing Service right now, St. George Home Searching dot com. You can click on the link there to find out what your home is worth. Check it out. Thanks, Chantry Abbott, Guild Mortgage. 674-1090 if you want to speak with him. 674-1090. If you want to reach out to us, 275-1690. Sold in St. George dot com. There you go. End of story.
Andy: You know what that music means? I do. I think it means Jeremy Larkin is in the house.
Jeremy: Hello, everybody. You know what, Jesse? We are going to reset this live feed, guys. We have got a Facebook Live feed, and I do not think we are on Wi-Fi. So I think we re going to reset it. Good morning to everybody here. Jeremy Larkin, host of the St. George, what?
Jesse: St. George Real Estate Radio Show, the Morning Drive.
Jeremy: You almost got it. See? I was testing you. I was testing you. I was testing you.
Andy: You guys are so tech-savvy.
Jeremy: The St. George Real Estate Morning Drive. Okay? Can we get it right? The St. George Real Estate Morning Drive. We have got to get Andy trained.
Jeremy: Andy, here is the thing, Andy. You were just calling Hurricane H-Town.
Andy: H-Town. Yeah.
Andy: Is that not good?
Jeremy: I like it, but now I want the St. George Real Estate Morning Drive. Can people see his shirt? They cannot see his shirt because he has got a face for radio.
Andy: Maybe we ought to do a close-up on Facebook.
Jeremy: He has got a face for radio. Do you love that?
Andy: But he has got a shirt for the world. His shirt is amazing.
Jesse: Hey, my wife gave me this shirt two years ago, and I think it has taken me a couple years to get the courage to wear it. So.
Jeremy: (Indiscernible) woman.
Jesse: It is sexy.
Andy: This is the debut of the shirt today?
Jesse: No, I have worn it before, but not like this. Not on air.
Andy: Oh, okay.
Jeremy: It is a debut.
Andy: He has lips on his shirt.
Jesse: If you cannot see it, you can go to the Larkin Group. We are St. George Experts on Facebook and look at our Facebook Live and you can see the lips. I feel like Mick Jagger.
Jeremy: they are not that big.
Jesse: I almost like Mick Jagger this morning because in the middle of the night, I stole my wife’s pillow and she got up and almost punched me.
Jeremy: Let me see if I can explain something to all of our listeners. He moves. You know the song? Moves Like Jagger? This guy moves like Mick Jagger.
Jeremy: He actually does. So I got a question out there for people. How many folks are YouTube Live? Does anyone watch YouTube? I do not know. Because it is a thing.
Jesse: I do. Not live, but I definitely am a YouTuber.
Jeremy: So what we are doing now is we have taken the show and we are running it on YouTube Live. So we run the show on Facebook Live. We run the show on YouTube Live. Now, we killed our live feed for just a minute. I am Jeremy Larkin, host of the St. George Real Estate Morning Drive. Because we thought maybe WiiFi might be helpful, Andy.
Andy: Is it working?
Jeremy: It is. We are going to be back on right now. So guys, I want to wish everybody out there a very, very lovely happy Valentine’s Day. Andy, what do you got, what is on your schedule today?
Andy: Dinner and a concert for me and the wife.
Jeremy: Where is the concert?
Andy: It is Cox Auditorium. It is the Carpenters’ tribute band. I do not know if you are old enough to remember the Carpenters.
Jeremy: Come on, of course.
Andy: They were very romantic.
Jesse: No, the Carpenters.
Jeremy: Come on.
Andy: I said something in a room the other day about going to the Carpenters’ tribute band, and everybody gave me the three-mile stare like who? What? Who? She has been dead for 30 years. But yeah, I am pretty pumped about tonight. We have not figured out where dinner, we are not sit down with cloth napkins and have a steak type people very often. So we are going to have a nice dinner and a concert, but it will not be, I am not going to spend $100 on dinner.
Jeremy: Very fair.
Jesse: Or wait for 2 ½ hours.
Andy: I have got a reservation. No, no, I do not want to do that.
Jesse: Valentine’s Day is the craziest restaurant day.
Andy: What about you, Jeremy?
Jeremy: For what it is worth, I have got reservations, by the way.
Jeremy: I have got reservations at the Ledges, 5pm.
Jeremy: So don’t anybody out there dare think that I did not plan ahead. I got those reservations a week ago.
Jesse: Wow. A week in advance and you still got –
Jeremy: Now, I might be there alone, but I have got reservations at the Ledges. Do you know what I am saying?
Andy: You planned ahead though. That is good. I am impressed.
Jeremy: No, I absolutely did. I have got reservations at the Ledges with a very lovely woman. Happy Valentine’s Day to Kayla Evans, and to Jesse Poll here and all of my –
Jesse: And to Leia Frances Poll. That is my wife.
Jeremy: And to Leis Frances Poll. Yeah. And to all of the beautiful women at our office, and also the beautiful men at the Larkin Group. I do not know.
Andy: Can’t they be handsome?
Jeremy: They can be handsome. They are beautiful. Guys, we are back on Facebook Live if you are not there. Facebook dot com slash Jeremy Larkin. Check it out. We are live, back on. Just trying to see if we can get our feeds to run a little better. Okay. The funny part is I was going to look in my photos this morning. This is what I love about technology. I was going to look in my photos and did not prior to the show to find out what I was doing last Valentine’s Day. That is the thing with the phone is you can actually find out what you were doing on any Valentine’s Day. Right?
Andy: Was there something cool?
Jesse: Because of your photos.
Jeremy: No, yeah. Just because your photos it is a scrapbook. It is a living scrapbook. How many photos do you have on your phone, Jesse?
Jeremy: How many thousands?
Jesse: I do not know. My phone is over there. Well, I have had to delete it a few times because my iCloud gets full.
Jesse: And I just cannot see paying $12, $20 a month because it just keeps adding. When I can take it all over to Google photos and get almost unlimited if I save it right.
Jesse: So it is challenging to make that happen. With an iPhone, it does not seamlessly happen.
Jeremy: It is not quite as seamless as you want it to be. Well, I want to let you guys know that I have 11,000 —
Jeremy: — photos.
Jeremy: How do you like that?
Jesse: I do not have that many. You must pay for serious storage or you have a big phone.
Jeremy: I have a gigantic phone.
Jeremy: It is basically like the brick phone from Saved by the Bell. Remember the one? You do not know.
Andy: I used to broadcast games on those big things.
Jesse: Oh, I remember those.
Jeremy: Oh gosh.
Jesse: Those came out when I was actually a teenager, I think.
Jeremy: Yeah, it is a big old brick phone.
Jesse: Miami Vice.
Jeremy: Yeah, Crockett and Tubbs. Right? Remember those guys?
Andy: Oh yeah.
Jeremy: We are going to have some fun this morning. So we are going to give away some Parade of Homes tickets. We are giving away on the Larkin Group Facebook page dinner for two. A gift card for some folks. Should we start with that?
Jesse: Let’s do it.
Jeremy: Okay, we have got a Valentine’s giveaway. By the way, I am Jeremy Larkin, host of the St. George Real Estate Morning Drive, and I have got Jesse Poll here, my business partner, co-host, and we are talking about, we are going to talk about the St. George Parade of Homes –
Jesse: Let’s do it.
Jeremy: — because it is so massive and we ran a survey that is very, very interesting. Now, I think the data is, I think it is lopsided and weighted because it is data that came from out real estate database.
Jesse: Right. Right.
Jeremy: Does that make sense? So is it really, it is not reflective of what the public is doing.
Jesse: Right, but I think we are going to do another one, I believe.
Jeremy: Yeah, we will probably do another one. Okay.
Jesse: To really make it fair.
Jeremy: We will do another one. But the first thing I want to tell folks is would you like to win date night? You have already got yours planned.
Jeremy: So folks can still win it. Over at the Larkin Group Facebook page. It is Facebook dot com slash St. George Experts. Facebook dot com slash St. George Experts. Some fun photos. Tag your Valentine and post a photo of you and them on the feed there. We already have 11 beautiful couples have posted and good morning to so many of them. So cool, so fun. Have you seen it? It is pretty fun. Hop on there. Facebook dot com slash St. George Experts, and post a photo of your Valentine together. You two together.
Jeremy: And we are going to draw for one lucky couple today. Number two, we have got a St. George Parade of Homes ticket giveaway that is going on right now. And I know we are giving people so maybe things to track down, but it is okay. They are going to survive. Right?
Jesse: If they want it, they will track it.
Jeremy: If they want it, they will track it down.
Jesse: We will chase the things that we want.
Jeremy: Yeah, we will chase things that we want. And by the way, I chase the things that I want. Very, very, very much chase things I want. So, want to let people know we are doing a giveaway and if you want to get in on this giveaway, visit St. George Real Estate Videos dot com because we posted the link there, and it is a survey about the Parade of Homes. Should we talk about the results, Jesse?
Jesse: Let’s do it.
Jeremy: It is a very simple survey. We asked people three questions about the Parade of Homes, but maybe most importantly, we asked questions about what their plans are in real estate this year because we want, it is like what are people thinking? What are they feeling? What are they going through? Are people buying homes? Are they selling homes? What are they doing? Right? Okay. So how many responses have we had to our survey?
Jeremy: 118 folks answered three questions. And what were the questions, Jesse? Do you know off the top of your head?
Jesse: The first was have you ever attended the St. George Parade of Homes? 79% said yes. 20% said no.
Jeremy: Okay. And this is in our database?
Jeremy: So, so 80% said yes, more or less. 20% said no.
Jeremy: Now, not surprisingly, what was the next question and answer?
Jesse: Do you plan to attend this year’s Parade of Homes or the 2019 Parade of Homes? 80% said yes. 19.3 said no.
Jeremy: So essentially, exact reflective answer. All the people who said they had been to the parade said they are going to the Parade. Have you been?
Andy: I have, yes.
Jeremy: It is very cool. If you go this year, if there is anything you want above say $2 million, we would be happy to write it up. Okay? Just want you to know that.
Andy: That would be dollars because that is a little out of my price range, Jeremy.
Jeremy: Yeah, I know. I get it. I get it. Third question. What do we have?
Jesse: Third question. Do you plan on making a move or change of residence in 2019? 55% said no. 44.5 said yes.
Jeremy: And that was baffling. So understand that this survey was conducted out of our database. So for our real estate clients, by the way, who we market to. We have almost 10,000 now —
Jeremy: — recipients on our email list. As a matter of fact, our last, I do not know what yesterday was when we sent out the Parade of Homes giveaway, but we were at about 9200 successful deliveries. That is how big our database it. That is how big the group is that we are now marketing to, that we are marketing your listing to if you are selling a home. Right? That we are sharing about the market. And anyone who is on that list knows that we share, it is like 90% value, content, 10% hey, can you help us out? Can you send us a referral? That kind of thing. We are putting tons and tons of content into this database. So the point being we queried that group, and in that group, not surprisingly, lots of them go to the Parade of Homes. Lots of them plan to go to the Parade of Homes, and almost 50%, did you say 45? Said they are going to move this year.
Jeremy: Holy cow. Okay.
Jeremy: Let’s talk about some of the things they said, and by the way, of course, I am not going to ever share names. Here is a couple of things I noticed by the way. We are thinking of downsizing. We are thinking of downsizing. We are thinking of downsizing. I think I saw that yeah three times. We are thinking of downsizing. Isn’t that fascinating?
Jesse: I am looking at one right here. The first one that popped up. When will the bubble in real estate bust? When will the prices plateau?
Jesse: Will Washington County pricing peak anytime soon?
Jeremy: Oh, this is so awesome. So when will the bubble burst? So –
Andy: Is it a bubble even?
Jeremy: You are just, thank you for being wonderful. Andy, have you ever had something go really horribly wrong for you?
Andy: Oh, of course.
Andy: My first day on the air here, as a matter of fact.
Jeremy: Beautiful. And here is a question for you. After the first day on the air, this is actually perfect, and I did not set you up for this.
Jeremy: After the first day on the air, and it went horrible is how you felt about that. Okay? Did you believe that all of the other days were also going to be horrible because that one was horrible?
Jeremy: No. So do you see where I am going? There was a bubble a decade ago.
Jeremy: And because there was a bubble, people are so shell-shocked of what do they believe?
Jesse: There is going to be another one.
Jeremy: It is going to happen again.
Jesse: What is interesting is the last time, it had been so long since we had had anything like that it was not even in their mind.
Jesse: And now, because we are back to a normal cycle, right? It should cycle every ten years. Up and down. Up or plateau.
Jeremy: Yes. Yes.
Jesse: So last time, it was one of the longest stretches in history. So it was out of our mind. The 70s and 80s is the last time that it probably really happened (indiscernible)
Jeremy: Literally. Yeah, when you are talking about major economic issues with 70s and 80s –
Jeremy: — you had interest rates hit 18%, and then for people to even buy or sell real estate it was all seller-financed, and weird and wrap-around mortgages. And you can have the use of my four-wheeler. It was three wheelers by the way in the 80s. Those things were fun and dangerous.
Andy: And dangerous.
Jeremy: And dangerous.
Jesse: My son got a three-wheeler that did not run, and he made it run on fumes. He created a gasifier engine.
Jeremy: A gasifier engine.
Jesse: In high school.
Jeremy: Oh my goodness.
Jesse: Good old three-wheeler. They made it a chopper three-wheeler.
Jeremy: I love it. I tipped one over. 600 South downtown St. George.
Jeremy: But at the time it was like you can use my three-wheeler and then also my house boat at Lake Powell and then I will give you $20,000 down and then if you will, it was this crazy stuff people had to do to sell real estate. We do not have any comprehension how good it is now. Because see if you do not know what the bitter is, you do not know what the sweet is. So folks, we are in a wonderful real estate market. We are in a healthy real estate market. We are probably getting into a more healthy real estate market than we have seen in the last couple of years.
Jeremy: When will the boom bust? Bubble burst? We do not think there is a bubble. Okay? Fair enough?
Jesse: I agree.
Jeremy: All right. So what is another question we have got in here? These are so incredible. Incredible issues. We basically could run a radio show for the next two years off this.
Jesse: I think we should because the next one that popped out on me –
Jeremy: Thank you, everyone.
Jesse: Nothing to do with the Parade of Homes, but this stuff comes up all the time. We are thinking about adding a two-car garage to our home with a two-car garage. And that would be four would be attached. What affect will this have on the home’s value?
Jeremy: Okay. So let’s run this. Let’s break this down now. They want to add a two-car garage.
Jesse: To a two-car garage. So it would be a four-car garage.
Jeremy: Two two-car. All right. So, Carl Wright was in our office last week –
Jesse: Two to two.
Jeremy: Yeah right. So Carl Wright was in our office last week. Carl Wright is with R1 Appraisals. I hope I do not butcher this. I think they have done 120,000 appraisals. His company. They might have a feel for the market.
Jesse: A little one.
Jeremy: And what was fun is that most everything he said reflected what I knew which made me very happy and kind of pat my own back. Stretch back there.
Jesse: He did, too.
Jeremy: Yeah, I did. I went ahead and gave myself a scratch and a pat and hug.
Jesse: And asked us for one, too. And we gave it to him.
Jeremy: I know you did. Depending on the home, 7-10,000 per garage bay if you are in a more expensive home. $5-8,000 per garage bay if you are on a less expensive home. Let’s call it 10,000 a garage bay. And let’s just maybe go ahead and say 15-20 grand. Now, but here is maybe more important. That is 15-20 grand on an appraisal.
Jeremy: But more importantly, if they were to put it on the market, it is much more marketable.
Jeremy: Right? And we do not know. We do not know what, well, aren’t you guys real estate professionals? Well, yeah. But we do not know everything. Right? There is no classic, perfect metric for that. But here is what I would say to the person who answered that question. If you want to put a two-car garage onto your existing two so you got a four, you are not doing that for another buyer. Who are you doing that for, Jesse?
Jeremy: Yeah. Have you upgraded your home ever, Andy?
Andy: Yeah, years ago.
Jeremy: What did you do?
Andy: We added a little bit of room. We also built on kind of shed-type space and a carport, and then we added on an awning in the back.
Andy: Made the back very livable.
Jeremy: So did you like that?
Andy: Oh, yeah. Oh, yeah.
Jeremy: And who did you do that for?
Andy: Did it for myself, not for the future owner.
Jesse: We were just having this conversation the other day.
Jeremy: But there was a benefit for the future owner, but it really was not for them. It was for you.
Jeremy: There you go.
Jesse: We were just having this conversation the other day. We have got a couple coming soon listings. One in the Legacy that is a walk-out basement. Another one in Bloomington Hills, and we are talking about well one of them has completely remodeled it. Just beautiful home. And we were talking about man, what value can we really get out of this? Can we get it back? That will be coming on the market here in a few weeks. We are really excited about that and see what the market says.
Jeremy: Incredible home in the Legacy. We are –
Jesse: Oh, it is so awesome.
Jeremy: — talk about a couple of properties today.
Andy: Jeremy, let me mention real quick. I have a Mustang.
Jeremy: Hey, Andy, this is my show. I am kidding. Keep talking.
Andy: I just want to enhance your point though.
Jeremy: I just wanted to go ahead and see if people could be uncomfortable. I could not even stand this discomfort –
Andy: I can turn off your microphone –
Jeremy: I know you can.
Andy: No, I am just kidding
Jeremy: So go ahead.
Jesse: He controls this show.
Andy: I have a Mustang. Last year I bought some Boss rims for my Mustang. I did not buy the Boss rims because someday I am going to sell that Mustang and I want to get that money back. I bought the Boss rims because they are cool, and I wanted my car to look really cool. Same point.
Jeremy: And here is the irony. Because not only did you not buy it for the future purchaser of your car, what is actually going to happen to the value of that car over time?
Andy: It is just going to go up. Yeah.
Jeremy: It is going to go up, or people may or may not ever even want that and you may just give those Boss rims away for free. Right? Because you do not know what someone will want.
Jeremy: When we talk about selling a home in this market, we have had this conversation so often. You envision this giant funnel, okay. Giant. Like a Washington County size funnel. And at the top of the funnel is every buyer for every property. Okay? Townhomes, condos, single-family homes, luxury homes, trailers, trailers on rented lots, trailers on owned lots, land, every property, every buyer goes into the top of the funnel. Well, here is the issue. Out the bottom of the funnel, Jesse, if you are selling a home, what do you need? You need one person to come out of the bottom of the funnel who wants what?
Jesse: To buy this home.
Jeremy: That home. So Jesse lives on 200?
Jeremy: In Hurricane, H-Town. I love that, Andy.
Andy: H-Town. Yeah.
Jeremy: He is home that was built –
Jeremy: — in 19 what?
Jeremy: 1922. The home is gorgeous. Okay? And, not but, and it is a historic home.
Jesse: It is definitely an historic home.
Jeremy: So here is what has to happen if Jesse wants to sell his house. He has to find someone, number one, who wants to buy a home. Number two, they want to buy a home in Hurricane –
Jeremy: — Utah. Number three, they are okay buying a home built in 1926.
Jeremy: And all that comes with a home that was built in 1922.
Jesse: Yes, it does. You start digging into those and you find problems you did not even know existed.
Jeremy: Okay. We have got our buyer, but yet, we do not. Now, they have to be able to afford it. Next, number five, they have to want to afford it.
Jeremy: That one is what people, maybe I do not want to afford it. Oh, I could afford it. I just do not want to afford it. Right? They have to want to afford it. And then we just come circle all the way back around to what we talked about. Then they have to love the style. Going in the house has to feel right the day they went there because maybe the husband and wife or husband and husband or wife and wife or whatever we are doing now, right, we are in a fight in the car on the way to the home. Do you realize the couple fighting in the car on the way to the house could ruin the sale?
Andy: It is true.
Andy: That is true.
Jeremy: Do you love it? Anything could affect the marketability of this home.
Jesse: Oh my gosh, that is great.
Jeremy: So out the bottom of this funnel is the person that buys your home. And so we just have to realize that this is not like oh, I got the best home on the block. I realize you might have the best home on the block, but buyers are looking at a lot of homes.
Jesse: There are a lot of other dynamics. I was just talking to somebody yesterday that was doing an inspection on a home and their agent, the seller’s agent, is just disconnected. They are not, it is just who they are.
Jeremy: Okay. Agent representing the seller of the property. Okay.
Jesse: The seller. So they are doing inspections. The buyer is doing an inspection and this seller is just livid. And their agent is not available to help calm them down. This is just what happens. This is normal. So it may go south because something you cannot control. The seller, the buyer cannot control, the agent should be controlling that. Or at least doing some future prepping —
Jesse: — of what to expect.
Jeremy: Future prepping. Future pacing.
Jesse: Pacing. There you go.
Jeremy: Is what we call it okay. Okay. One more question. Andy, what do we got for time today?
Andy: You have got about three minutes.
Jeremy: Last question, Jesse, and then we are going to talk about two real estate things, two homes.
Jesse: Okay. There was one on here. Let me look.
Jeremy: Okay. When is the best time to refinance? How about that?
Jesse: That is a good one.
Jeremy: You ready? You ready? The best time to refinance is when interest rates are lower than your current interest rate. And by the way, people say by how much? At least a half of a point.
Jeremy: If it is not about a half a point, you are going to pay a lot of money unless you are really truly planning on staying in a home for 30 years. When is the best time to refinance? When is the best time to plant a tree? 25 years ago. When is the next best time? Today.
Jesse: And that also depends on what you are doing. I went to go refinance and Chantry Abbot over at Guild Mortgage actually talked me out of it and sent me to a different institution to get a HELOC because it made more sense for me.
Jeremy: That is what happens, by the way, when you work with professionals. How about this? Two minutes. Robert did this on our team. Congrats, Robert. Happy Valentine’s Day, Robert. Just wanted to personally, and you have done this. He talked the seller out of selling their home.
Jeremy: Went to visit with the client and said I do not even think this is a good idea. Folks, a couple of incredible properties coming up. We are listing, putting on the market tomorrow afternoon a home in Ivins that is just, it is literally like a little, it is not a diamond in the rough. It is like a little, fields of diamonds. More like that. It is in your backyard. They coined it mini farm meets pool paradise, and these are amazing people.
Jesse: They are amazing people and an amazing house.
Jeremy: Yeah, it is really fun.
Jesse: It is going to be a lot of fun to sell that.
Jeremy: Yeah, I love it when we bring a home to market that is just not another home. 2355 square feet, four bedrooms, but most importantly, they have built this oasis in the backyard. Chicken coops. It is just so freaking cool. So anyway, check this out. This home is coming to the market tomorrow. Number two, Legacy and we are not going to give you anymore. By the way, if you want to see this property upcoming, you can see it at Go St. George dot com. Legacy.
Jesse: I have got one in Bloomington Hills coming up.
Jesse: Walk-out basement with two kitchens. Just awesome mother-in-law apartment.
Jeremy: Two kitchen. Oh. Guys, incredible properties. Check them all out at Go St. George dot com on our coming soon listings. They are not all there yet because we are working with a lot of clients. If you would like to win the Valentine’s, a date night for you and your Valentine, visit Facebook dot com slash St. George Experts, and post, you will see the post. Post a picture or photo of your loveliness together. And if you would like to get in on the Parade of Homes, we are going to give away at least ten tickets, five sets of tickets.
Jeremy: Get involved in the Parade of Homes survey that we asked today. Have you been? Are you going? And do you plan to buy or sell this year? To give us a sense for what people are doing at St. George Real Estate Videos dot com. Man, did we jam it in there?
Andy: You got it done.
Jesse: Good job, Jeremy.
Jeremy: Sponsored by Coke Vanilla Zero.
Andy: I know. Nice product placement.
Jeremy: Look it is a downgrade from Red Bull. I am trying to get off that stuff. I love the product placement. The problem is guess what they are giving me? Nothing.
Andy: St. George Real Estate Morning Drive with Jeremy Larkin. Jeremy, I loved the show. Thank you, man.
Jeremy: Thank you, man. Appreciate it. Cheers.
Carl Wright of R1 Appraisal: Where are St. George Home Prices Going? (St. George Real Estate Radio Show)
Andy: These guys have maybe the coolest theme music out there.
Jeremy: Yes, we do.
Andy: St. George Real Estate show with Jeremy Larkin. Jeremy joined today Carl Wright. Guys, I love talking about real estate. I am always kind of in the market for a different house even though I have been in my current house seven years. Maybe you can help me out a little bit.
Jeremy: Listen, I have got some stuff in the $2-3 million range I think you should look at.
Andy: Okay, can I borrow a couple of mill?
Jeremy: Here is the deal. I would happily contribute to your down payment. I cannot say what, but hey, by the way –
Andy: A couple of cows or –
Jeremy: — welcome. Welcome to the show, Andy.
Andy: Thank you, Jeremy. It is great to be here. I have been looking forward to this day for about a week. I have been here what, three times now, sitting and listening to you guys –
Jeremy: Yeah, yeah, this is –
Andy: — but Mike would never let me talk.
Jeremy: No he would not. He would not.
Andy: Now, I get to talk.
Jeremy: Last week was the famed, final, final, the farewell show. Mike is no longer with us. Is that how you say it?
Carl: That is sad.
Andy: Well, I will say this. I called a basketball game with him last night, so I know he is still with us, he is just not with us.
Jeremy: He is with us. Which game did you guys call?
Andy: Pineview Dixie. Three-pointer at the buzzer in overtime. It was a great game.
Jeremy: Wait a minute. Who won?
Andy: Pineview won it.
Jeremy: Oh man.
Carl: Oh wow.
Jeremy: See I was not, literally I was so focused in other things I did not even know they were playing last night, which is sad because I am a Dixie High graduate. And that used to be, that was the rivalry. But the rivalries now, there is a variety of rivalries. It used to be Pineview and, excuse me, it used to be Cedar-Dixie, which was –
Jeremy: — when I was young. And then it became Pineview-Dixie. And now there is, there is kind of a variety of rivalries. Isn’t there, Carl? What do you think? What do you think the real rivalry is now?
Carl: Gosh, it is, I think there is a rivalry between everybody now.
Jeremy: Your kids, your kids will go where? Crimson or Desert Hills?
Carl: We will go to the new Crimson.
Jeremy: You will go to Crimson.
Andy: Brand-new school in the fall.
Carl: Brand-new school.
Jeremy: Yeah, so it is has changed. The dynamic has changed. Three-pointer at the buzzer. Good grief. I think I just had a traumatic episode thinking about Jordan and him, the fallaway three-pointer on the Jazz in the 1996 –
Andy: Oh, flashback.
Carl: Thanks for bringing that up.
Andy: Yeah, thanks a lot.
Jeremy: Yeah, we are never going to live that down because genuinely speaking the Jazz are never, ever going to probably have that chance again. I am sorry, guys. It is what it is. It is hard to attract, hey welcome to St. George Real Estate sports show. It is hard to attract, I have said this forever. Now, I am going to beat up on my own state. I was born and raised in St. George, Utah. My father was born and raised in St. George, Utah. So we love, we love this state. We love this city. We love, but it is very hard to attract talent to Utah. Right?
Jeremy: Because the big stars are not super interested in, and can we just call it what it is, our liquor laws. Our lack of nightlife. Very much like state religious kind of predominance. They are just not interested. And that is the same for BYU and University of Utah. University of Utah has done pretty well, but at the end of the day, I love my state, but it is just hard, right, to attract talent.
Carl: True, but I have to say that Donovan Mitchell has totally –
Carl: — revitalized the sports enthusiasm —
Carl: Can I say that?
Carl: — for the Utah Jazz. I love Donovan Mitchell. I love what he is all about. His on and off the court. He is a great, great face for the Utah Jazz.
Jeremy: Yeah, and they have come along.
Andy: To illustrate your point a little bit, Rudy Gobert should be an all-star right now. He did not get it, and I think, more than anything, is because he plays in Utah and not in New York City or LA or –
Andy: — somewhere else. And that is another reason why the great talent is not going to sign –
Jeremy: Not. It is, it is frustrating.
Jeremy: That is okay. That is okay. Here we are. We are here. We are live. St. George Real Estate Morning Drive. I am Jeremy Larkin, the host of the program. I have got, by the way, if you look on Facebook it says the insanely handsome Carl Wright. By the way, the insanely handsome Carl Wright joins us to share some trends that are not being told or shared, I should have said shared, by any other real estate professionals in town. And the reason I say this, it is not that it is going to be that controversial, but it is what we have been talking about, and there is this kind of, remember when you were a kid and you plugged your ears and said I am not listening, I am not listening –
Jeremy: — to your brother, sister, sibling, cousin. There is a lot of that going on right now in Washington County. A lot of I am not listening, I am not listening, I am not listening. Gang, we are inviting you this morning to actually save yourself a whole bunch of pain in 2019 by listening to what we have to say in this program. And the question that might come up, are they going to tell us that the market is crashing? No.
Jeremy: No, but, but, right, Carl? But there is information that people need to know if they want to make a good decision this year.
Jeremy: We are happy to be here. I am happy to have Carl here. Happy to have Andy Griffin here, who is not the new Mike McGary. He is Andy Griffin, and he is going to be fantastic. You moved here from where?
Andy: I have been in Southern Utah for 25 years. I grew up in Texas. In high school, my parents, much to my chagrin, moved to Salt Lake County and I told them flat out I am not going. I am staying here. I am going to stay with my friends. But when you are 14, 15 years old, you really do not get that choice.
Andy: So they actually sent me off to a camp and moved while I was gone.
Andy: I no longer had a home.
Jeremy: You were strong when you said you were not going even though you were going.
Andy: Exactly. And then, I have been kicking around Utah. Spent one year, way northern Idaho, Moscow, Idaho on a (indiscernible) there. The thing I did not like about Idaho is the thing I love about here. The clouds rolled in October and did not leave until March. It was gloomy. It is cold out there, guys, but it is a glorious, sun shiny day. I love it.
Jeremy: It is. I am a big mountain biker. And I would happily go out this afternoon, get a beautiful ride in, put an extra layer one. It is going to be high 40s. That is a cold day, but not a big deal. Right? By the way, Bryant Head Ski Resort, I have, just so everyone knows how I operate. The Bryant Head webcam is typically pulled up on, there you go, Carl. On my computer.
Andy: Oh wow.
Jeremy: It is just always up. Bryant Head, check this out. So I was up there over the weekend. They had 10 inches Saturday night, and I thought well, that was nice. They have had 35 inches since then. So 45 inches, almost four feet. Eagle Point Ski Resort is at 31 inches. Storm total. So if you are wanting to get up there and get some skiing in –
Carl: It is a good time.
Jeremy: — or snowboarding, I have got to say –
Carl: That is the wonderful thing about St. George is that you can enjoy —
Jeremy: Right. That is why –
Carl: — you can enjoy the sunshine and not having to shovel your walks, but 45 minutes you can be on the slopes.
Jeremy: Yeah, gang, I have absolutely biked and skied in the same day in St. George.
Jeremy: Many times.
Jeremy: So you can do that, and that is kind of why I segued that. I thought how fun is this that Bryant Head, by the way, an hour and twenty up, typically I am an hour and twenty up and an hour and fifteen down. It is always just a little quicker coming down. That is pretty static. I am an 85 guy on the freeway, cruise control, and it is an hour and twenty minutes to that resort, and I am talking on a stormy day it is an hour twenty. It is just kind of an hour twenty to go up there. So check that out if you are looking for some fun this weekend, but welcome, Andy. Where do you live now, by the way?
Andy: I live in Washington City.
Jeremy: Washington City.
Andy: Yep, a new subdivision. Hobble Creek subdivision, and I have a beautiful home and really enjoy it. My only complaint is where our backyard backs up to 300 East there in Washington, so we are kind of looking to get something that is a little more secluded, a little off the busy road.
Jeremy: You know exactly what he is talking about.
Carl: I do.
Jeremy: Yeah. I know people who can help you. But –
Andy: I know you do.
Jeremy: — do that when you are ready to do that.
Jeremy: Carl Wright. Welcome aboard.
Carl: Thank you for having me.
Jeremy: Yeah, I am happy to have you. We are going to have, so this is fun. We are going to have Carl today, and then we are going to have Carl and his entire team at my office at noon. His team, our team. Carl is with R1 Appraisals here in town. By the way, I need to have you guys go measure a home in New Harmony. That is after show, but –
Jeremy: — just so you know.
Carl: Love to do it.
Jeremy: We are listing an incredible, oh my goodness, incredible home in New Harmony. We will be placing this home on the market hopefully in the next week, and amazing views. Almost 5,000 square feet. Pretty cool home. So it has an entire detached guest house –
Jeremy: — and when I went in it, it is like country home, like going into my home I grew up in with my mother. It is interesting, Carl, this is probably a great way to start this off, is they had the home on the market for six months with another agent, and they are very frustrated. Right? With an agent from Cedar City. So if you are in New Harmony, I want you to think through this. They listed the home with a guy from Cedar City because it was geographically closer by the mileage. But the issue is New Harmony is not in Iron County. It is in?
Jeremy: Bingo. So what they did is they hired somebody on the Iron County MLS to sell a home that is actually in Washington County. Now I am sure the home was on both Multiple Listing Services. And when we list your property and sell a property, we are always on Washington, Iron, and Wasatch MLS. We kind of go for the trifecta. But they were frustrated and then as we dug into this, it looked like everything was fine, and at a glance. So we do what is called a home marketing audit. And by the way, if you are selling a home right now, very quick plug, but it is not selling. That is the key is if your home is on the market and it is not selling and you are frustrated, I invite you to visit, this is kind of fun, we have a page that we have never talked about. It is called Why My Home Won’t Sell dot com. Literally. Why My Home Won’t Sell dot com. Go in there and plug in your critical information. This is not a solicitation of your listing. It is what called a home marketing audit. Maybe you are someone whose home just came off of the market, and it did not sell. Right? Let us know, and what we do is we just do an audit. And the audit is we look at three factors, which are marketing, condition, and pricing. And then, Carl, you know because you are a professional appraiser, that underneath those three, that canopy of three are probably another fifteen items. Right? So either marketing, the story that was told about your home was not compelling enough or it was not told to enough people. The condition, either the condition, the staging, or the location or all three were such that it was not compelling to a buyer. And or, and maybe all three factors were present, or the price of your home was such that either just buyers said sorry, there is something better for us at that price. Or maybe it was bracketed in a way that they did not, they did not see it. But we did this audit, and what do you think we found when we started looking through the square footage? The main floor was wrong. The basement was wrong. The upstairs was wrong. It was not reflective of a guest house. There is an entire detached guest house that is completely legal on the property that is about $150,000 to build that was not advertised.
Carl: Not presented. Yeah.
Jeremy: So it looked like everything was fine at a glance. I said, man, I do not know why this home has not sold. Then when we dug into it, so how often do you see data, Carl, as a professional appraiser that is just not accurate?
Carl: Oftentimes. Our job as an appraiser is to sift through all of the information that is out there and try to come up with a realistic value. We are looking at everything from marketing time. We are looking at the square footage. That is why we do not ever rely on what the county says or the, as far as square footage, bedroom, bathroom count. That is why we go in and we assess the property. We measure the property so we know what your square footage is. We will come up with your bedroom bathroom count. We look at your condition, the quality. We look at from your roof to your foundation and everything in between to determine how the market reacts to what components you have in your home, and then we come up with a value.
Jeremy: Okay, so this is kind of a fun question. Real estate agents, typically when they go to put a home on the market, they pull the square footage from where?
Carl: They usually use the county.
Jeremy: Correct. They just go to the tax records, and they go well, it says it is 4100 feet. How many appraisals have you done in your life, because you go out and you laser measure, you digitally measure where the square footage you actually measured in real life matched the county?
Carl: Hardly ever. It is usually —
Jeremy: Like 5%?
Carl: — maybe, I would say less than 5%. We are usually a little bit smaller –
Jeremy: Crazy, right?
Carl: — a little bit bigger than what the county says, which is, we use the outside measurements. You use ANSI standard of measurement, which means we measure from the outside corner to the outside corner. So we are usually a little bit bigger than what the county says, which is beneficial to people who are selling their home because then you get the actual square footage of what an appraiser is going to be using as their measurement, and then you can market your home at a slightly larger –
Carl: — so it behooves you a little bit to get an appraisal or have somebody come measure your home to determine what your actual square footage is.
Jeremy: Well, and Robert MacFarlane commented, good morning, Robert, it was missing almost 900 square feet.
Jeremy: And it was 6 months on the market.
Carl: That is –
Carl: Let’s just say $100 a foot, right? That is $90,000 that they misrepresented in that.
Jeremy: Yeah, so this is kind of crazy. We are doing something we have not done in a while. We are taking this property on that was listed by another agent, and they came to us after it was no longer on the market. We are raising the price.
Jeremy: And we do not do this very often, but we are actually going to, we believe that we can sell this home for more money than they were asking previously.
Carl: Wow. And that goes against the trend I am seeing right now, Jeremy.
Carl: As I have looked at the market and looked at trends, we look at, as appraisers, we look heavily at absorption rates and months of housing supply and things like that. Something very interesting that I am seeing right now is 2018, there was a perfect storm. There were, interest rates were good. It was like the jet was taking off the runway –
Jeremy: Oh yeah.
Carl: — and we built speed all the way until September about, and I was talking to my business partner, Nick –
Jeremy: This is exactly what I noticed.
Carl: — and this is exactly how Nick put it is that the jet took off in September and started to level off in September of 2018, and now we are gliding.
Carl: We are in a gliding mode right now, and we are in a transitional from being a seller’s market to a buyer’s market. We are seeing more months, more time on market. We are going from about a two-month inventory of homes to a three-and-a-half-month inventory of homes in the greater St. George area.
Jeremy: So let me throw a perspective in here. And when Carl talks about months of supply, right, or absorption rates, what he is saying is well, two months’ supply is really simple. It is how long, there was enough housing that if no one else listed a property, now I want, this is really important, if no one else put their home on the market, it would have taken two months to sell them all. Correct?
Jeremy: The simplest way to look at it?
Jeremy: Well now he is saying well now, we are at three-and-a-half. This is what throws people off. Three-and-a-half-months’ supply is still really strong market. It is a really strong market. But the issue is we are talking about the inventory going from two to three and a half. Right? Three and a half does not sound like a lot, but an increase from two months to three and a half months is a gigantic increase.
Carl: It is a big increase.
Jeremy: Make sense, you guys?
Jeremy: It is not like three and a half is a big supply. It is going from two to three and a half is a massive jump.
Carl: Yeah, and I found some more statistics. I was looking at the Washington Fields area, this is right where you live, Craig. In the Washington Fields area, I was looking at homes –
Jeremy: Or Andy.
Carl: Andy. Sorry.
Jeremy: Craig just walked out.
Carl: That is right. I am sorry, Andy. I apologize.
Andy: That is okay. No worries.
Jeremy: Craig is on his way back to Parowan to play in the snow.
Carl: Washington Fields, 2000 to 2500 square feet, the months of housing supply 12 months ago was 3.26. Right now, currently, there are 6.25 months of supply in Washington Fields between 2000 and 2500 square feet.
Jeremy: But I thought Washington Fields was one of the best markets in town?
Carl: It is one of the best markets in town, but that means everybody is trying to sell their home, and so if you are going to be competitive, if you have got your home listed right now, you really need to analyze do I really want to sell my home. If I really want to sell my home, then I probably should reduce the price by, I would say, by 5%.
Jeremy: Bingo, brother. What did I say to you on the phone when we chatted?
Jeremy: 5%. Let me share something with folks here. Carl, I have got the Multiple Listing Service pulled up. Since January 1st, have you looked at how many properties I have listed, by the way? Washington County. And of course, I should say Washington County. This includes Iron County because it is on our Multiple Listing Service. So bear with me for a second. I am going to come in here to location and I am going to say Washington County since the first of the year. Now remember, folks, when you go to sell your property, you are saying I have the best home. Hey, I looked around. I looked at every, Andy, I was over there off of 300 East in Washington, I looked around. I feel like I have the best house on the quarter mile. That is nice. Here is the issue. 724 properties hit the market in Washington County since January 1st.
Jeremy: 700 competitors. Right? Sounds about accurate?
Jeremy: That is what MLS is telling me.
Jeremy: And by the way, I am talking about homes. I am not even talking about lots. If I talked about lots and water shares, there is another how many you think? A couple hundred?
Carl: Couple hundred.
Jeremy: 724 properties hit the market in Washington County since January 1st. Right? That is 700 new competitors that came to the market. Andy, how long have you lived in that house?
Andy: Seven years.
Jeremy: So you have been there seven years. The reason I asked is that is what I thought you said. A lot of our listeners have been in their property 5-7 years, 7-10 years, because a lot of people moved into the market. Right, Carl? Like ’05, ’06, ’07, ’08. Some of them ’10. But here is what is interesting. Values have come up since seven years ago in Washington County, Carl, what percentage you think?
Carl: I think we are right around 40%, 36%.
Jeremy: Since then. Close to 40%. So while Carl is telling us a story that is accurate and he is telling the truth, inventory is almost doubling. It doubled in Washington Fields. Right? We went from three to six months. At the same time, if I had told you seven years ago that your home value would go up 40%, the home values would go up 40%, how many homes would you have bought?
Jeremy: Every one of them, right?
Carl: (Indiscernible) Right.
Jeremy: You would have bought all the $5 bills for $3 that you could have purchased. Okay?
Jeremy: Right? Which is the math.
Andy: Makes sense.
Jeremy: We are saying hey, I have got a sale on $5 bills. They are on sale for $3. How many do you want? I want them all.
Jeremy: But we did not know that. Did we?
Jeremy: So talk to me about a trend here because seven years, I would love, I love that you are in studio at seven years. What seems to kind of happen every 6-8 years, Carl?
Carl: Usually, it trends up for seven years and then it trends down. And you look at –
Jeremy: It is biblical, by the way. Seven years of famine. Seven years of planting.
Carl: Right. If you look at the trends, we crashed in the third quarter of 2007. That is when the trend started to go downward here in Washington County. And it went down until 2011. In 2012, we started the trend upward, and how it went, what is the math? Seven years. 2012 is when we started to trend upward. Now, I am not saying there is going to be a big crash. I do not think there is going to be a crash, but we are going to be gliding through 2019.
Jeremy: How many appraisals have you done? You and your company?
Carl: Our company, since we have opened up in 2008, we almost 21,000 here in Washington County.
Jeremy: We have two minutes. Two and a half minutes. I want that to settle in for people. I have got Carl on the show today. 21,000 appraisals. You might want to listen. Right? You might want to listen. Here is what is so fun for me. Everything you are saying is echoing what I have been saying, which clearly makes me feel pretty happy this morning. So 5% across the board. We feel like values are probably 5% overcooked. We have seen inventory in Washington Fields double. Where else? Where else is inventory going up? Everywhere.
Carl: Everywhere. Everywhere, but not to be alarmed. I do not want this to be people that panic and think that there is, that I need to make a huge, a 5% price reduction is not a very big price reduction.
Jeremy: If I am a seller, what do I do today because I want to sell and take advantage of a great market?
Carl: You want to reduce it 5%. It is like chasing that ball down the –
Jeremy: We talked about this.
Carl: We talked about this. You do not, you just want to get ahead of the ball. It is going to calm down. Usually, our market is spurred by the Parade of Homes which is coming up next weekend. A lot of buyers come in. So we are going to see some more buying right in the next near future.
Jeremy: 60 days.
Carl: 60 days. And so, I suspect that jet is just going to coast through 2019. I do not see a big fall. I do not see a big rise. I see it stable for the next year.
Jeremy: What if somebody says I really do not trust my agent? I want to call you and get a third-party appraisal. What is it going to cost them and how do they call you?
Carl: We have got a variety of products that we offer people from $200 to $400 for a full appraisal for a typical home. If your home is a little bit bigger, we charge a little bit more, but that will give you a full valuation of letting us come in, and like you said, give you a diagnostic of why your house is not selling.
Jeremy: Yeah, and by the way guys, we talked about this fun website. I almost forgot for a while that we had even created it. We created it years ago. When the market was crashing, we created this page called Why My Home Won’t Sell dot com. And when you go there, it is just a home marketing audit. And all you do is plug in your information, and then what we do is not a solicitation of a listing. I want to be very clear about that. We simply look at three categories: price, condition, and marketing. And we diagnose it. Right? We do an audit. I know no one likes an audit. But guess what? Would you, again, Carl, if I told you seven years ago that your value had come up, and Andy and everyone in this room, 40%, you would have said are you serious? But people want their value to have come up 45% and now they are frustrated. Are people going to miss out on this market because they are clinging onto last summer?
Carl: Yes, they will.
Jeremy: It is going to happen.
Carl: You have got to look forward.
Jeremy: How do they call you, Carl?
Carl: Our phone number is 435-627-0019. You can talk to anyone of our appraisers, me, Nick Lyman, Evan Wilkins, Jerry Johnson, Kenny Rawlings. We have got a whole crew over there that can help you.
Jeremy: Yep, R1. Literally, R the letter, 1 the number. You can Google it. Thank you, Carl.
Carl: Thank you for having me, Jeremy. Appreciate it. It is always a pleasure.
Andy: Jeremy Larkin with St. George Real Estate here on News Radio 94.9, 890, KDXU. Thanks, Jeremy.
After 41 years total on air… 35 in STG… 22 years on the open mic and nearly 5 years as our in studio co-host and guest, The great Mike McGary signs off on his final show! Today we ask him about the highlights (and low lights ) of thousands of shows, 4 AM wake ups, and being nagged by the public about their favorite city or county complaints! It’s been a great ride, cheers to you and your career and to your next phase! 🥂🙏🏼👊🏼
Jeremy: … of the morning, and what we are going to do Jesse is we are actually going to want to back that up because we want to capture Mike. I did not let you know that. Yeah, we are going to want to back that up.
Jesse: I was trying to, but he would not turn around.
Jeremy: It is okay. It is okay.
Mike: I told him to back my (indiscernible)
Jeremy: Just back it up. Well, I know, well you know what, there were words inserted there, that was very nice by the way. So the back of you is your best asset. I know, I get it. I hope your wife is listening this morning. Jeremy Larkin, host of the St. George Real Estate Morning Drive. Do you want to hear what I put on Facebook Live?
Mike: I do not know. Do I? Okay sure.
Jeremy: I got some information from Bart Taylor. Now, I hope I did not get it wrong. After 41 total years on the air, yeah?
Jeremy: 35 in St. George, 22 years on the open program, and nearly five years as our co-host.
Mike: That is right. We are probably four.
Jeremy: Yeah. The great Mike McGary signs off on his final show. Today we ask him about the highlights and lowlights, and I am sure there have been plenty of lowlights, of thousands of shows, 4am wakeups, and being nagged by the public about their favorite city or county complaints.
Mike: That has happened, yeah.
Jeremy: Because they are hoping you can get the pothole fixed out there in front of their home.
Mike: Well, I have connections.
Jeremy: I know you do.
Mike: I know the people.
Jeremy: The mayor is coming in. So who will be on with you for the last Open Mike?
Mike: My family actually.
Jeremy: Are they really coming in?
Mike: My wife is coming in.
Jeremy: That is so good.
Mike: I have three sons who are in town. My daughter will be on the phone, and my brother is here. So it is all good.
Jeremy: This is so good.
Mike: It is going to be good.
Jeremy: This is so good. So guys, I am Jeremy Larkin. I am the host of the St. George Real Estate Morning Drive, and we are going to talk, this is fun today for me. This is such a great break from just real estate talk. So we are going to have two minutes of real estate talk. I want to remind our friends and clients that our, we call it the Dollar Menu, the Dollar Menu expires today. So we did this program for a month where if you are buying a home in St. George and you hire us to represent you, you can qualify to sell your home for a buck. A dollar. How many clients did we have? Five? Five this month? Something like that. Something.
Jesse: Five, yeah.
Jeremy: Something like that.
Jesse: I think so.
Jeremy: So the funny part is people go what is the catch? Well, the catch is you need to buy another home in St. George. That is fine.
Jeremy: That is the catch. There is no other catch. It is a dollar. So we will see settlement statements at the title company that say listing brokerage commission $1, and it expires today. We said we would do it only for January. We committed we would do it only for January, and we are doing it only for January.
Jeremy: Okay, so we will be shooting an email out to our database this morning, but if you have questions about that, pick up the phone and call us after the show. Or you can call us right now if you want. Someone will answer probably.
Jesse: Yeah, probably.
Jeremy: 275-1690. 275-1690 or google The Larkin Group, and just, gosh, contact us. So that is number one. The $1 listing program does end today, and if you do not qualify for the $1 program, you will qualify for our, we had two things going. We had what we called Christmas in January, which is our up to $10,000 savings program and you will qualify. So get in on it. If you thought about selling your home, as a matter of fact, if you are planning to sell your home in February, and this is what tips you over, then let it tip you over. You do not have to list your home today. You could not list your home today. We could not –
Jesse: You could not get it all done and do it right.
Jeremy: We could not fill out the paperwork and photograph your home and bring our staging consultant through and all that stuff. Okay. So thank you, Robert MacFarlane for the, I look sharp, brother, or are you talking to Jesse? I guess you were talking to me. Secondarily, the Best of Southern Utah. So St. George News is running the Best of Southern Utah, and I want to just prep all of our listeners that we are, we will be vying for the title of Best Real Estate Team in southern Utah. So be aware. I think we are ten or maybe even fourteen days out from voting, but we have been nominated and we want this. Kevin Chavez, we know this town. Yes, we do. Yes, we do, my friend.
Jesse: That is going to be pretty cool. How do we go vote? Who votes?
Jeremy: There will be a link. The public can vote, and the public can vote every single day, and we will have a link that will be produced that will be something like the Best of Southern Utah dot com the Larkin Group. I do not know what it is. They will provide it for us.
Jeremy: That is the deal. Real estate sales, by the way, in southern Utah are strong, folks. Strong. If you have not been on our YouTube channel, we put some great content out there talking about the market being really great, just not quite as great as some people want.
Jesse: Well, and not as great as it has been.
Jesse: It is starting to stabilize.
Jeremy: But not as great as it has been for who?
Jesse: For sellers.
Jeremy: For sellers.
Jesse: For buyers, this is great.
Jeremy: See buying and selling is like a marriage. And if only one person is happy that is usually a recipe for disaster. Right?
Jesse: I never thought about it that way.
Jeremy: Yeah, so sellers were really happy last summer –
Jeremy: — because they could do whatever they wanted. They could like run over the, they could pull up their car on to the front lawn and kick stuff over and just kind of be reckless teenagers —
Jeremy: — and say I want what I want. But that is not a healthy real estate market. So, the market is better than it really virtually been in a decade, yet we have some sellers who are saying well, maybe I just will not sell my home because I cannot get what I want. And if you go to our YouTube channel, YouTube dot com slash Go St. George TV, couple of videos you are going to want to watch where I talk about the fact that people will look back on this time and they will say I did not want to sell because of what? Because I could not get what?
Jesse: I could not get what I wanted. I could not get the right price.
Jeremy: Yeah, and if I sell, then I will have to buy what?
Jesse: At the high price.
Jeremy: Yeah. What they did not take into account is what they cannot control, which is interest rates.
Jesse: Interest rates. I have that conversation all the time because people think well, man, I just cannot do that. I cannot, unless you went through that whole scenario really strategizing with a mortgage guy and –
Jeremy: And a good agent.
Jesse: — and a good agent, you really do not know what you can or what you are costing yourself if you do not.
Jeremy: Yeah, yeah, I promise you whatever you read on Zillow or whatever, it was not enough for you to actually run through all of your options.
Jesse: If you are thinking about a three, $400,000 investment, it is probably pretty important to really go down the whole road of investigation.
Jeremy: What are all of my options? Right?
Jesse: Well, yeah right. What are they?
Jeremy: Because –
Jesse: You could stay, you could sell, you could refinance, you could rent that one out and buy another one. There are all kinds of stuff you could do.
Jeremy: Because if you want to move, let’s pretend that interest rates pop up to 6% in two years. You will look back and it will be a regretful moment –
Jeremy: — because now your mortgage payment will be two or three hundred dollars higher and you do not have any control over that. All right. So again, call us, 275-1690 to take advantage of our Christmas in July, July, January slash dollar menu. Or just to talk about your situation and have us strategize. Okay, Mike. Here we go. Let’s do this.
Jesse: Here is the man.
Jeremy: So 41 years, 35 years in St. George.
Mike: In St. George, yeah.
Jeremy: Okay, so give us the best and the worst. What are a couple of highlights from being on the air this long?
Mike: Well, that I had a job and paycheck for all that time. I guess would be pretty good. My career is, I think, has been too fast and at number one that is on the air. It is the news. It is the morning show. The other half has been the sports, and I have been involved in sports for nearly that same length of time. I am going to go there first because it is easy.
Jeremy: Calling games for who?
Mike: For, I did it for Dixie College slash Dixie State University now. Traveled with the team for twenty years. In fact, yesterday on the show I had former coaches, great coaches on the air with me. I had Dave Rose, now the head coach at BYU.
Mike: And the head BYU baseball coach, Mike Littlewood, who was also here.
Jeremy: Oh, that is cool.
Mike: So I had them on the air.
Jeremy: By the way, where is Croshaw now?
Mike: He is semi-retired, kind of helping out here and there.
Jeremy: He is still here.
Mike: He is still in the town. Oh yeah, he lives here.
Jeremy: Okay. I knew he was involved with –
Mike: So anyway, got the opportunity of calling four national championships on the junior college level, two of which Dixie won.
Jeremy: Were you at the, do you go back as far as ’85 or no?
Jeremy: That was pre-you.
Mike: I actually came here in ’84, but the great man Larry Jewell was still the voice.
Jeremy: It was Larry Jewell. Okay. That is, I was ten years old and I was at the game in Wichita, Kansas. We stayed, this was so great. I was ten years old and we stayed at the Holiday Inn Holodome, and the Holodome in the 80s was a thing because it has a miniature golf course and an arcade and a pool inside.
Mike: Right. Right.
Jeremy: And I was like –
Mike: Wow. You have reached the top, huh?
Jeremy: We really arrived. We drove all the way to Wichita. So Larry Jewell.
Mike: Larry Jewell. I actually, my claim to fame –
Jeremy: That takes me back.
Mike: — I ran the board here in St. George.
Jeremy: There you go.
Mike: So I heard that, but I got to do the national championship in 2001, Andy? Andy did it with me by the way. Andy Griffin over in the corner there.
Jeremy: So good.
Mike: So I got to call a national basketball championship, which Dixie won. I got to call in 2004 the national championship baseball which Dixie won. The only downer was that the Dixie football team twice played in a national championship for junior colleges, both here in town, both at the Rotary Bowl, and they lost both to the same team.
Mike: Kind of rough one. (Indiscernible)
Jeremy: You know that stinks. Amen, and I remember that well. And the Rotary Bowl always ends up being freezing because by about two o’clock the sun is past the stadium –
Mike: Going down.
Jeremy: Right and then you are on the concrete. So yeah, you were involved in some really cool stuff.
Mike: Really cool stuff, and I could go on and on obviously, and I have been at, I really do not know. I have been very fortunate, a number of state championships. Thank you, Region 9.
Jeremy: Yeah, tons. Tons.
Mike: They have been super. Baseball, basketball, football. Region 9 teams have won them all multiple times. So I have been able to be there and call those games as well.
Jeremy: Do you have any idea how many games? Could you guestimate how many games that you have done live color commentary for?
Mike: Andy and I were actually trying to figure this out. And we, our best estimate, over 3,000.
Jeremy: Over, over 3000 games, and what is baffling to me is when I listen to you or anyone else calling a game. Hey it is Smith to Stout and Stout to McFarthen. I am looking at (indiscernible)
Jeremy: And it is Jesse. Jesse Poll, he is really great junior out of Wichita, Kansas. He has been doing a great job. Oh, hey we have got a fumble. It is like you really get good at that, right?
Mike: I do not want to give away all of my secrets. No, you kind of get into a flow of things and there is no doubt. I had all kinds of notes. I did not make the pro-level where they have a little insert in your ear and there is some guy in your ear going it is Bob Smith with the tackle. I never had that. I may have had Andy going Bob Smith and he would punch me in the side.
Mike: You get a feel. You get to learn from it. So many games over the years. It has been incredible.
Jeremy: 3000 games. Oh and I have heard Mike for so long, so long. I used to listen to all the Dixie State University games when they were on the road.
Mike: Twenty years I traveled with Dixie.
Jeremy: Twenty years. Yeah, that is incredible. So 4am is typical wake up time?
Mike: Probably 4:30, I guess. I have to be in studio by no later than 5:30. Well, until this week, and I sleep in a little bit. But anyway, to get here and get things set up and get ready to go. There is lots of prep prior to, so sometimes I do it the day before so I can –
Jeremy: The key is Mike has figured out, I figured out something that I learned from Mike. He did not realize I learned it from him. Mike lives literally two minutes –
Jeremy: It is exactly two minutes is what I would estimate over the hill. Like he just drives up the street and comes down and parks. Then I decided, of course, a year ago to move two minutes from my office.
Mike: And it works.
Jeremy: It is incredible because I leave for leadership meetings at 7:28 that start at 7:30. That kind of stuff. Or I will show up in my, I shot a live video on Facebook yesterday from my bike trainer, and I got off at 7:25, and then I went into the office to a meeting. Because I could just run home and shower. It is no big deal. So, this is amazing. 3000 games. All these years on the air with the Open Mike Show. Who do you remember, is there anyone that you remember specifically that came in the studio beside the people that you like locally? You love interviewing the mayors –
Mike: And there have been a lot of good ones locally. It has been fun over the years. But –
Jeremy: What stands out in your mind?
Mike: I think a couple of politicians who have come down. I mentioned this the other day. I have interviewed all, the last six governors of the state of Utah –
Mike: — going back to, wow, now I cannot think of his name. My mind just went blank right there.
Jeremy: I am thinking back to Norm Bangerter.
Mike: Right prior to Norm Bangerter. Norm Bangerter ws the second one. Anyway, right up until our current mayor here. Or governor, excuse me. That has been a lot of fun. I have been able to interview some well-known athletes here on the this one, and one of the fun ones I did was Joe Namath.
Jeremy: Oh wow.
Mike; Now, it was not during his, during the heyday of his career mind you. He was a little bit older, but he was fun. That was probably one of the funner ones.
Jeremy: And he was cool and respectful.
Mike: He was very good. Very respectful, very neat to have around. I think some of the highlights have just been sometimes you would not think this, they would come in and we would get talking and we would get into the best of discussions. And I have discussed all kinds of political things, all kinds of local events, and I have really enjoyed it.
Jeremy: By the way –
Jeremy: Scott Matheson.
Mike: Scott Matheson, thank you.
Jeremy: I looked. Do you know, who was the first governor of the state of Utah? People, this is a funny one. I would not even have thought of this.
Mike: I was from Idaho, so I did not know this.
Jeremy: I would not have even thought of this. Brigham Young.
Jeremy: Thank you, Wikipedia.
Mike: There you go.
Jeremy: Isn’t that interesting? Brigham Young was the first governor of the state of Utah. So these guys come in, I do not know who will ever hear this. Is there anyone you remember that was like a pain? And obviously if it is someone local, you cannot name it. Is there anyone that you have spoken with that you said, okay, that guy or gal, that was a problem?
Mike: Yea, I have had interviews when they, it just did not go well. And this is going to sound really sexist, and I know this, but I am sorry. But years ago, they brought in the winners of the local queen pageant. And here is what I ask, and I do not think I am going to be able to remember this, so I can say it again. I just, well, it is good to have you in, first of all. And your name is so-and-so. I just want to get a feel. Which part of the area do you live in? And she looked at me and she said, I do not understand the question.
Jeremy: This is so good.
Mike: Let me just tell you the 20-minute interview became seven minutes and we were out of there. Sometimes people are so nervous. They do not know what to say.
Jeremy: I do not think it is sexist. It is just what happens.
Mike: It is just what happens. That was a tough one. I have done a lot of politicians and that has been fun because of the local races. We tried to bring all the candidates and interview them. They range from being really good. The thing is, whether they are good on the air or not does not mean they are a good or not a good candidate. So I hope people realize that.
Jeremy: Hey, Jesse, which, here we go. Which area are you in? Hurricane, just say Hurricane.
Jesse: I think I am in Hurricane. Is it Hurrican or Hurricane?
Jeremy: Did that come over the air? I did not mean my whisper. That is incredible. Which area are you from? I do not understand the question. That does remind me of some snafus of the like I do not, is it the Miss Universe. There have been some funny –
Mike: There has been some big time.
Jesse: We have had some on this because Jeremy never tells me what he is going to be talking about. And I get asked these questions and I am like –
Jeremy: He has pulled up lame a couple times, but I love him. I love him. Man, I love the guy. What would you, that is so incredible, so what do you feel like, what is the biggest challenge of doing what you have done? What is the hardest part? There has to be hardest part.
Mike: I think really kind of feel like I am at least semi-prepared for whatever may come up that day. Now, I will never know everything, but I try to look, I try to get a feel, especially when it comes to the talk show portion of the day because I always, I feel like somebody is going to call up and ask a question. So I will go through the paper, well, not the paper anymore. I go through the internet, I bring it up on line, I look at things. I may only know the headline, but if someone calls and says hey did you see this? You bet. I did. Isn’t that amazing that that happened? I have no idea what the rest of the story –
Jeremy: And they will tell you what the story is.
Mike: And they will tell me. What would you think about it? And then we can get into a discussion. There are little ways of doing it.
Jeremy: Yeah, you are giving away a trade secret. I think it is interesting because I hear about Rush Limbaugh or these guys, he loves to ruffle the papers on the air.
Mike: Yes, yes.
Jeremy: But yeah, they have stacks of stuff because they are kind of going I could get into anything today.
Jeremy: Now, of course, those guys have the benefit of a call screener.
Mike: Absolutely. We tried that once here.
Jeremy: Did you really?
Mike: Yeah, it did not really work out well.
Jeremy: So you get caught, you are on the spot, you do the Open Mike program here at nine o’clock.
Jeremy: Is this the family?
Mike: Yep. There is, looks like my wife is out there. That is my son –
Jeremy: Oh, this is so fun.
Mike: — you can see there.
Jeremy: This is so fun. We are looking on the little –
Mike: It is a little entry video.
Jeremy: It is an entry video. That, by the way, that, that TV monitor was brought here by NASA in 1968.
Mike: That is mine. Just kidding.
Jeremy: That is incredible. He is like that is how I watch, stream Netflix.
Mike: That is right.
Jeremy: But these folks call in, let’s talk about the Open Mike program for a minute.
Jeremy: What have people most complained to you about? What is the most typical, because it is kind of like the vent in the spectrum.
Mike: Yes, it is. It is. I will tell you honestly it is national politics, national politics. People want to talk about what the President is doing, what the Congress is doing or not doing. What is good, what is bad, and a little bit unfortunately, the split we see in the nation is right here in this area. I have tried to interject other programs involving more local. Now there are some good local issues. Water is always a great local issue. Growth is always a great local issue, but over and all, they seem to like to talk about the national, and one thing that was surprising to me. I have trouble getting on state issues. They do not want to talk about it.
Jeremy: They do not want to talk about it.
Mike: They will complain but I feel like people are going to say, they are going to sit back and wait and then they are going to complain –
Jeremy: So it is either national –
Mike: Or local.
Jeremy: — or I cannot believe these guys are developing another subdivision.
Mike: Yeah, that is big time. How about our water? And I am not saying right or wrong. I am just saying these are the hot button issues. And have been for a long time.
Jeremy: How often do you have to, Jesse, I do not know, man. Jesse is in sales, so he is on the phone a lot with angry people. How often have you had to just cut a call off? Like hey man, you had to hang up on them.
Mike: Let’s just say numerous times. No, it happens. I will be honest
Mike: I have tried, very few. Very fortunately very few. I think back to my career starting up in Pocatello, Idaho. Probably on two hands, I could honestly say –
Jeremy: Here we go, mother –
Mike: Yeah, I have been called a thing or two. And probably the only, less than ten times in 40 years. So that is not too bad. Now we get into discussions, and I think that is kind of what led me in my Open Mike Show to say we are not going to get personal. You can disagree with what I say. You can disagree with the events. You can disagree with the people, but you cannot get personal about the people.
Mike: And for the most part, people have been good. And I have appreciated that because it has kind of help keep us on a little bit better level. I am not a national talk show host. I do not want to be. I do not want to go where they think they have to go. So.
Jeremy: Yeah, and I do not think, I think it is very easy to go personal. I think –
Mike: Easy to do.
Jeremy: It is so easy to go personal about the people, easy to go personal on you. Well, you know what, Mike, I have been listening to you for five years, and all you ever do –
Mike: Right. Right.
Jeremy: All you ever do is one of the great statements that we make and we love to make —
Mike: We all do it, don’t we?
Jeremy: — this to our family and our spouses, whatever we do. Right? We love to say all you ever do is, which is I am always trying to teach my kids okay, no absolutes.
Jeremy: Always, only, never. Not helpful language. Not helpful language. What are you going to do now? So as we wrap this program today, now what? Because you are going, you are going to walk out of here at ten o’clock? Eleven or will you be here for a while?
Mike: Well, probably one o’clock. There is a little get together from eleven to one today here.
Jeremy: Yeah. Yeah. Yeah,
Mike: Honestly, for the very near future, sleep in. Seriously, just kind of take it easy. I do have family down. Right now, I do not have a lot planned. My wife and I have a few trips that we are going to be taking. We are going to become, I am going to become a full-time grandpa, at least for the near future. And we will see where we go from there.
Jeremy: You do appreciate that.
Jesse: I do.
Mike: I love it. I am going to Portland in April or March, two little kids.
Jeremy: Do you know what is cool? And I think you will appreciate this. So Jesse has got how many grandkids?
Jeremy: Four. And how many are in Boston?
Jeremy: Is it two in Boston?
Jesse: Two in Boston (indiscernible)
Jeremy: He and his wife, they are breaking themselves up, down to get there at least twice a year.
Jesse: Well, four times.
Jeremy: Four times a year (indiscernible)
Jesse: We go four times.
Mike: That is really good.
Jeremy: Right. So you appreciate like and Jesse gets this.
Jesse: My wife gets it. She reminds me that the kids are only going to be little once and they will, it is going to matter.
Mike: Yep. Yep.
Jesse: Right now.
Jeremy: Yeah. Now we cannot forget. Andy, you are to remind us. When this program ends, we have to get the last in-studio photo of the three of us guys. We have to have this. Okay. You got it? Because, by the way, the contract with Cherry Creek, they cancel it if you do not remind us. Okay. So I am sorry. I hope Cherry Creek is listening right now. Mike, it has been, we have got two minutes, right?
Mike: Yeah. Yeah.
Jeremy: It has been such a pleasure. Honestly, I mean it. I just mean it. You are, and it is hard. It is almost emotional. Mike is a man of character and he is a man of credibility. I worked with his son doing some real estate –
Mike: That is right. Yeah.
Jeremy: — and he is just a good man, and I think that that is being lost with the Matt Lauers and Rush Limbaughs of the world just to use a couple of public personalities who are either out of control or secretly out of control.
Jeremy: It has been such a good time. I cannot believe it. I cannot believe this is the day.
Mike: Looking back, it is always like oh my gosh, where did that 35 years go? A couple of times during it, I am going oh my crud, is this ever going to end? I am sorry. That was –
Jeremy: But I feel the same way.
Mike: Sure we do.
Jeremy: And when it is great in real estate, when our clients, when we closed Hale and Dan Balthesar’s home two weeks ago and they are elderly and they needed our help, and they needed our help moving, and they needed our help putting multiple transactions together –
Mike: Right. Right.
Jeremy: — and we took this tiny fee to get it done, we were so happy.
Jeremy: And the next day you have a deal fall out the day before closing and you just want to quit.
Mike: Highs and lows. Every career has it.
Jeremy: I have never felt so high and I have never felt so low. Ladies and gentleman, kudos and congrats to Mike McGary on his retirement and becoming a full-time grandpa.
Jesse: That is going to be awesome. Thanks, Mike.
Mike: You bet, guys.
Jeremy: If you have got questions, there is Mayor Pike. If you have got questions about, again, to take advantage, please, today of the Dollar Menu or our kind of Christmas in January, call us at 275-1690. Mike will give you a little bit more information. And Mike, we are going to hand this over to you. This is kind of first. Favorite people. We had these custom made in Fargo, North Dakota. It is a mantle, you will see. I hope this is on your mantle.
Jeremy: On behalf of the Larkin Group. There you go. It is cool. It is very cool.
Mike: Jeremy, thank you.
Jeremy: Thank you.
Mike: Jesse, thank you.
Jeremy: Over and out guys.
Mike: All right. That is going to wind it up for another edition of the edition. Again, this has been the St. George Real Estate Morning Drive with the voice of St. George Real Estate. As always for more information, call 275-1690. Find them online at Sold in St. George dot com.
Jeremy Larkin is on Spring Canyon Dr. in Coral Canyon (Washington City, UT) providing insight on the home pricing “sweet spot” that will take a “stale” listing to a seriously hot commodity. Typically creating MORE money for Sellers rather than LESS. Looking to buy a home? Check out our free home search:
Looking to sell a home? Check out our free home value report:
St. George and
Washington County, UT