Palm Springs Real Estate Podcast with Will Cook
Will Cook
If you are looking to buy or sell a home, get all the information and the latest updates, tips, and tricks from The Will Cook Group - your professional Palm Springs Real Estate Agents.
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Top 10 Palm Springs Real Estate Podcast with Will Cook Episodes
Goodpods has curated a list of the 10 best Palm Springs Real Estate Podcast with Will Cook episodes, ranked by the number of listens and likes each episode have garnered from our listeners. If you are listening to Palm Springs Real Estate Podcast with Will Cook for the first time, there's no better place to start than with one of these standout episodes. If you are a fan of the show, vote for your favorite Palm Springs Real Estate Podcast with Will Cook episode by adding your comments to the episode page.
4 Ways the New Tax Bill Will Impact the Real Estate Market
Palm Springs Real Estate Podcast with Will Cook
02/05/18 • -1 min
The new tax reform will impact the real estate market in four key ways. These changes indicate that now might be the time to start the process if you’re thinking about selling in 2018.
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I’ve gotten a lot of questions recently about how The Tax Cuts and Jobs Act will affect the real estate world. There are four key tax changes that will impact the housing market:
1. Deductions for property taxes. Prior to the new tax bill, if you itemized deductions on your federal return, you were able to deduct the entire property tax bill along with any state income taxes. Going forward, this total amount will be capped at $10,000.
2. Deductions for mortgage interest. The final tax bill reduces the limit on deductible mortgage debt to $750,000 for or new loans that were taken after December 14, 2017. Other loans of up to $1 million prior to that time are grandfathered in.
What's Going on in Our Market Today?
Palm Springs Real Estate Podcast with Will Cook
11/16/17 • -1 min
Today I have an update on what our local real estate market is doing.
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Year over year, the changes in the median home price of the nine major cities show overall strong gains but also a wide variation in the numbers.
For detached...
Today I’m going to give you an update on what our local real estate market is doing.
Our absorption rate, or months of sales, is 4.4. This number is confirming that we are continuing our trend as a seller’s market. This is the No. 1 indicator that confirms this trend.
The strength of our seller's market is confirmed also by a days-on-market reading of 70 days, which is three days fewer than less month. This is also the lowest number of days on market since October 2013.
As you can see in the graph displayed in the video at 1:17, we see lower months of supply ratios in all price brackets, which indicates the Valley’s improving housing market is broad-based and strengthening in all price ranges.
As you recall, a balanced market is a six-month absorption rate. That said, while the months of supply for homes priced over $900,000 has dropped from 10.9 to 9.3, this price bracket could still use some improvement, as these numbers are still a little high and indicate a bias toward buyers.
On November 1, Valley housing inventory started, as it does every year, an inevitable rise. The 384-unit increase in one month was relatively small, however, when compared to previous years. That’s a positive, and it’s primarily due to the higher sales volume in the summer months. At 3,625 units, our current inventory is 725 units less than it was last year at this time.
Our absorption rate, or months of sales, is 4.4. This number is confirming that we are continuing our trend as a seller’s market. This is the No. 1 indicator that confirms this trend.
The strength of our seller's market is confirmed also by a days-on-market reading of 70 days, which is three days fewer than less month. This is also the lowest number of days on market since October 2013.
As you can see in the graph displayed in the video at 1:17, we see lower months of supply ratios in all price brackets, which indicates the Valley’s improving housing market is broad-based and strengthening in all price ranges.
As you recall, a balanced market is a six-month absorption rate. That said, while the months of supply for homes priced over $900,000 has dropped from 10.9 to 9.3, this price bracket could still use some improvement, as these numbers are still a little high and indicate a bias toward buyers.
On November 1, Valley housing inventory started, as it does every year, an inevitable rise. The 384-unit increase in one month was relatively small, however, when compared to previous years. That’s a positive, and it’s primarily due to the higher sales volume in the summer months. At 3,625 units, our current inventory is 725 units less than it was last year at this time.
Our appreciation, home pricing, and lower inventory point to a great time to consider selling your home in the greater Palm Springs area
Year over year, the changes in the median home price of the nine major cities show overall strong gains but also a wide variation in the numbers.
For detached...
Understanding Property Taxes and Assessments
Palm Springs Real Estate Podcast with Will Cook
07/31/17 • -1 min
Property taxes are a significant expense for homeowners. Not to mention Mello-Roos and special assessment taxes.
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In addition to your monthly mortgage payment, you also need to consider some other taxes and assessments to get a true picture of what homeownership will look like for you. Each of these components will empower you to accurately predict and control your monthly expenses.
In addition to your monthly mortgage payment, you also need to consider some other taxes and assessments to get a true picture of what homeownership will look like for you. Each of these components will empower you to accurately predict and control your monthly expenses.
There are three components to these taxes: property taxes, direct assessments, and special assessments or Mello-Roos assessments. Every year, the city, county, and state all charge taxes on every parcel of real estate located within their borders. For many homeowners, these property taxes are the 2nd-largest home owning expense after mortgage interest.
In most areas, property taxes are governed by state law.
In most areas, property taxes are governed by state law, but assessed and collected by the county on an ad valorem basis. Ad valorem is latin for “according to value.” These taxes are calculated annually. In addition to these direct assessments, you may also be located in a special assessment district or a Mello-Roos district.
Why Should You Consider Real Estate Investing?
Palm Springs Real Estate Podcast with Will Cook
07/12/17 • -1 min
Real estate investing is an often overlooked, but potentially very attractive, means of diversifying and smoothing out a portfolio.
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Adding real estate to your investment portfolio is a great idea.
Adding real estate to your investment portfolio is a great idea.
Because it offers diversification, real estate makes a good addition to traditional stock and bond style portfolios.
This is especially true because real estate is it’s own asset class, can offer generous yields during periods of depressed economic activity, and can appreciate when the economy is strong.
Real estate also combines aspects of stocks and bonds that tend to work in opposite directions in most economic conditions.
Contingent Offers on the Rise in Palm Springs
Palm Springs Real Estate Podcast with Will Cook
04/13/17 • -1 min
Contingent offers are making a comeback. Today we’ll explain why.
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Contingent sale offers are on the rise in Palm Springs. Contingent sale offers occur when a buyer submits an offer on a property that is contingent on them selling their own home. If they don’t end up selling their home, they do not have to go through with the purchase.
Contingent sale offers are on the rise in Palm Springs. Contingent sale offers occur when a buyer submits an offer on a property that is contingent on them selling their own home. If they don’t end up selling their home, they do not have to go through with the purchase.
In 2003 and 2004, we saw a huge surge of buyer demand in the market. It was difficult for contingent buyers to get their offers accepted because in some cases, sellers would have 20 or 30 different offers to choose from.
During the housing market crash, many people were unable to sell their home, meaning any contingent offers were frowned upon because sellers weren’t confident that these buyers would end up selling their homes. Between 2011 and 2013, we saw another boom. However, equity hadn’t quite gone up enough for some sellers to feel comfortable with pulling the trigger.
Now, the market is more stable, sellers have enough equity to feel confident in buying a new home, and more and more contingent offers are coming back into play.
As a contingent buyer, it’s best to make a contingent offer after your home is already in escrow. If you try to make a contingent offer on a property when your home isn’t even on the market yet, the seller is less likely to accept it because of all of the unknowns. If the sale falls through while you are in escrow, your contingent offer protects you, and you’ll be able to get
What Do You Need to Know About Home Inspections?
Palm Springs Real Estate Podcast with Will Cook
02/17/17 • -1 min
Whether you’re a buyer or seller, you need to know these three things about home inspections before ordering one.
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Whether you’re a buyer hiring someone to inspect a home you want to buy or a seller needing an inspector to look at your home to see if there’s anything that needs to be fixed before you put it on the market, there are three things you need to know about home inspections:
Whether you’re a buyer hiring someone to inspect a home you want to buy or a seller needing an inspector to look at your home to see if there’s anything that needs to be fixed before you put it on the market, there are three things you need to know about home inspections:
“
Knowing these three things is
essential to understanding
home inspections.
”essential to understanding
home inspections.
What to Do If Your Appraisal Comes in Low in the Middle of a Transaction
Palm Springs Real Estate Podcast with Will Cook
11/22/16 • -1 min
If a home appraisal comes in lower than the sales price in the middle of a transaction, what should you do? Here are your three options.
Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Price Evaluation
Here in the U.S., though, Brexit has been nothing but good for our real estate market. Because of Brexit, investors all over the world want a safer place to invest, and this has pushed already-low mortgage interest rates down even further because they are investing in our housing market.
First, if you are looking to buy a home, now is an unusually good time to do so because these low rates mean you will be paying less. As an example, if you were to take out a 30-year, $250,000 mortgage today versus a year ago (when interest rates were almost 4%), you would save more than $25,000 over the lifetime of the loan.
Low appraisals can be a real challenge in our market today. Low appraisals have become more common because our home prices have been appreciating quickly over the past several years and there are fewer and fewer comparable properties. It seems that each sale is higher than the last.
So what is an appraisal? It’s a price that a willing buyer and seller will settle on. In reality, a home must be sold to three different groups: the buyer’s agents, the buyers themselves, and the mortgage lenders. The brokers help us find the buyers for your properties, the buyers have to feel that the sales price is justified, and the lenders have to agree on the value because they’re the ones putting up most of the money for the house.
“
Debunking 4 Major Real Estate Myths
Palm Springs Real Estate Podcast with Will Cook
11/01/16 • -1 min
There are four real estate myths that, unfortunately, too many people believe. Some of them could even cost you a lot of money.
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There are four major real estate myths that I wanted to debunk for you.
1. Realtors get kickbacks from lenders, home inspectors, and other referrals. This is not only untrue and unethical but according to the Real Estate Settlement Procedures Act (RESPA), it’s also against the law. No professional Realtor is going to jeopardize their career or reputation just for a kickback. Most agents, however, will give you recommendations for vendors like lenders or inspectors because they build professional relationships with these people and they know that they’re good at what they do. It only helps to ensure a smooth transaction for everyone involved.
“
Realtors won’t jeopardize their career
just for a kickback.
”just for a kickback.
Why Mortgage Interest Rates Are Still Low
Palm Springs Real Estate Podcast with Will Cook
10/11/16 • -1 min
Today we’re going to talk about one of the reasons that mortgage interest rates are so low right now.
At the beginning of the summer, the U.K. voted to leave the European Union. This became known as "Brexit," and it has created a lot of uncertainty and worry for our neighbors across the Atlantic.
At the beginning of the summer, the U.K. voted to leave the European Union. This became known as "Brexit," and it has created a lot of uncertainty and worry for our neighbors across the Atlantic.
Here in the U.S., though, Brexit has been nothing but good for our real estate market. Because of Brexit, investors all over the world want a safer place to invest, and this has pushed already-low mortgage interest rates down even further because they are investing in our housing market.
“
Here in the U.S., Brexit has been
nothing but good news
for mortgage rates.
”nothing but good news
for mortgage rates.
In fact, we are now in the middle of the second-longest run of cheap mortgage rates in history. Currently, the 30-year fixed-rate mortgage is 3.46%; this is only a few points above its all-time low of 3.31%.
What does all of this mean for you?
What does all of this mean for you?
First, if you are looking to buy a home, now is an unusually good time to do so because these low rates mean you will be paying less. As an example, if you were to take out a 30-year, $250,000 mortgage today versus a year ago (when interest rates were almost 4%), you would save more than $25,000 over the lifetime of the loan.
A Market Update for the Palm Springs Area
Palm Springs Real Estate Podcast with Will Cook
02/20/18 • -1 min
What are the latest trends of the Palm Springs area market? I’ll fill you in on the numbers today.
Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Price Evaluation
Are you up-to-date about what’s going on in our local real estate market?
As of February 1, the months-of-supply ratio was 4.9, which is a record-low ratio and is responsible for the continued trend of being in a seller’s market. The chart shown at 0:44 in the video shows that March is usually the high in this ratio, and we expect it not to exceed five months of supply for the entire year.
This is a considerable improvement over the last three years, when it often went above six months for extended periods of time. This indicates that inventory should remain low and tight in 2018, making it a seller’s market in general, and putting upward pressure on pricing.
The days on market remains low as well, at just 66 days. The inventory improvement compared to a year ago is found in all price brackets, but especially between $400,000 and $800,000. As we expect, the months-of-supply ratio increases at higher prices, but it doesn’t really start until prices get over $700,000, while inventory ratios for prices above $900,000 are better than a year ago—that segment of the market is still a buyer’s market.
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FAQ
How many episodes does Palm Springs Real Estate Podcast with Will Cook have?
Palm Springs Real Estate Podcast with Will Cook currently has 22 episodes available.
What topics does Palm Springs Real Estate Podcast with Will Cook cover?
The podcast is about Top, Property, Estate, Local, Home, Real, Podcasts, For, Selling, Education, Search and Tips.
What is the most popular episode on Palm Springs Real Estate Podcast with Will Cook?
The episode title 'Boost Your Home’s Value With These 4 Steps' is the most popular.
How often are episodes of Palm Springs Real Estate Podcast with Will Cook released?
Episodes of Palm Springs Real Estate Podcast with Will Cook are typically released every 20 days, 6 hours.
When was the first episode of Palm Springs Real Estate Podcast with Will Cook?
The first episode of Palm Springs Real Estate Podcast with Will Cook was released on Oct 11, 2016.
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