PATILLO,
PATILLO, TO ANSWER YOUR QUESTIONS. TEXT TONY (916) 321-3310.
ALL RIGHT, TONY, THANK YOU FOR
JOINING US.
WE'RE HAPPY THAT YOU ARE HERE
WITH US HERE.
WE HAVE THE NEXT ONE COMING IN.
WHAT'S THE MARKET GOING TO LOOK
LIKE WHEN THIS IS ALL OVER
WITH?
>> WELL, YOU KNOW, THAT'S
REALLY HARD TO SAY.
I DON'T KNOW WHEN YOU SAY WHEN
IT'S ALL OVER, YOU KNOW WE
DON'T KNOW HOW LONG THIS IS
GOING TO LAST.
THIS IS ALL NEW TO ALL OF US.
BUT, THE GOOD NEWS IS THAT
THERE IS MOVEMENT WITH THE REAL
ESTATE INDUSTRY, THERE IS
ACTIVITY, IT'S STILL HAPPENING.
OBVIOUSLY THERE IS GOING TO BE
PEOPLE DEALING WITH CHALLENGES
AND THEY WILL BE DEALING TO
HAVE TO DOWN SIZE
AND MAYBE EVEN SELL THEIR
PROPERTIES, ET CETERA.
IT'S REALLY HARD TO SAY.
WE'RE ALL TAKING IT DAY BY DAY
RIGHT NOW.
>> I GUESS WHEN YOU ARE SELLING
A HOUSE, THAT'S FINE.
YOU MADE THE DECISION TO SELL.
IF YOU ARE GOING TO BUY A
HOUSE, YOU AND YOUR WIFE ARE
BOTH WORKS, YOU HAVE TO BE
REASONABLY CONFIDENT THAT
YOU ARE GOING TO KEEP YOUR JOB,
RIGHT?
>> ABSOLUTELY.
I THINK THAT IS THE BIGGEST
FEAR FACTOR, A LOT OF PEOPLE
DON'T KNOW WHAT'S GOING TO
HAPPEN WITH THEIR CAREERS,
THERE IS A LOT OF ENTREPRENEURS
HERE IN SOUTHERN CALIFORNIA.
A LOT OF PEOPLE THAT ARE, YOU
KNOW, MAKING THEIR WAY WITH
THEIR OWN BUSINESSES.
A LOT OF TECH, YOU KNOW,
ENTREPRENEURS THAT ARE DOING
FANTASTIC, STILL A LOT OF
PEOPLE THAT ARE GOING TO BE
FINE.
WHEN YOU ARE WORKING FOR
VARIOUS COMPANIES THAT ARE
BEING SHUT DOWN, THAT THAT'S --
YOU KNOW, THERE IS THE
UNKNOWN QUESTION, UNKNOWN.
IT'S JUST UNKNOWN ANSWER.
>> VERY UNCERTAIN.
NEXT TEXT COMING IN FOR TONY,
I'M AFRAID MY EMPLOYER IS GOING
TO SHUT DOWN, I HOPE IT DOESN'T
COME TO THAT.
I MAY NEED TO SELL MY HOUSE.
HOW LONG WOULD -- I GUESS IT
DEPENDS WHERE YOU ARE, HOW LONG
WILL A HOUSE BE ON THE MARKET
THESE DAYS?
>> YOU KNOW, THAT'S A GREAT
QUESTION.
AND THAT'S REALLY GOING TO BE
DEPENDENT UPON HOW YOU PRICE
IT.
PRICING IS EVERYTHING.
IF IT'S PRICED WELL IT WILL
MOVE.
THERE ARE A TON OF BUYERS OUT
HERE STILL.
INTERESTINGLY ENOUGH TODAY I
HAVE TWO SHOWINGS, THEY ARE
MAKING PROPERTIES, WE CAN'T
SHOW PROPERTY THAT ARE
OCCUPIED, BUT THERE ARE PEOPLE
THAT ARE IN THE MARKET, THEY
ARE LOOKING, THEY ARE ANXIOUS
AND PARTICULARLY
WHEN YOU HAVE A DISTRESSED
MARKET YOU GET A LOT OF BUYER
THAT COME OUT.
>> THAT'S GOOD TO KNOW.
NEXT ONE, WITH SO MUCH
UNEMPLOYMENT, IS IT HARDER TO
GET A LOAN NOW OR ARE BANKS
WILLING TO LEND OR WAIT A FEW
MONTHS FOR STABILIZATION IN THE
MARKET?
>> YOU KNOW, THE LENDING HAS
TIGHTENED UP QUITE A BIT.
THEY ARE NOT DOING THE STATED
INCOME LOANS RIGHT NOW, THEY
ARE NOT DOING THE BANK
STATEMENT LOANS.
THEY ARE REALLY -- THEY REALLY
PULLED BACK OUT OF THAT MARKET.
BUT, THEY ARE CONTINUING TO
ENTERTAIN YOUR TRADITIONAL
CONVENTIONAL LOANS WITH 20%
DOWN.
SOMETIMES THEY MAY WANT A
LITTLE BIT MORE DOWN.
BUT THERE IS WHO MORE LENDING
IN THE MARKET.
AND THE RATES ARE GREAT.
GET IN THERE IF YOU ARE LOOKING
TO BUY NOW, THIS IS A GOOD TIME
BECAUSE OF THE RATES.
YEAH.
>> NEXT TEXT COMING IN TONI
PATILLO, YOU DO INITIALLY HAVE
TO HAVE PEOPLE COME THROUGH TO
STAGE YOUR HOUSE, TO SET IT UP.
YES, IN SOME CASES YES.
>> AND IS THAT OKAY?
>> WELL, THAT'S -- THAT'S --
THAT'S A FINE LINE.
LET'S JUST SAY THAT IS A GRAY
AREA.
YOU REALLY ARE NOT SUPPOSED TO
HAVE ANYONE OUTSIDE OF, YOU
KNOW, INSPECTORS, APPRAISERS,
WE CAN SHOW A
PROPERTY THAT'S VACANT.
IF THE PROPERTY IS OCCUPIED WE
ARE STILL NOT ALLOW "TODAY
SHOW" THE PROPERTIES.
WE DO HAVE DIFFERENT
DISCLOSURES, THE CALIFORNIA
ASSOCIATION OF REALTORS IS
REALLY KEEPING US UP TO SPEED
AND
THEY HAVE CHANGING THESE
DISCLOSURES AND GUIDELINES
DAILY.
SO, NEW RULES EVERY DAY.
BUT THEY ARE STARTING TO LOOSEN
UP A BIT AND WE'RE EXCITED
ABOUT THAT.
>> SO, IF YOU ARE MY REALTOR,
TONI AND I WAS ASK INTERESTED
IN A PROPERTY.
WOULD YOU TAKE ME THERE SO I
CAN DO SITE SURVEY, LOOK AT THE
PROPERTY, MAYBE WALK UP THE
DRIVEWAY, PEAK IN A
WINDOW OR TWO, YOU KNOW IN A
GOOD WAY.
>> THAT'S POSSIBLE.
ABSOLUTELY.
AND AGAIN, IF THE PROPERTY IS
OCCUPIED, WE BE ALLOWED TO GET
INSIDE, I CAN CERTAINLY GET
PERMISSION FROM THE
LISTING BROKER OR HOMEOWNER IF
IT'S A FOR SALE BY OWNER, WE
CAN GET PERMISSION TO WALK THE
GROUNDS.
>> NOTHING INSIDE THE HOME, I
GET THAT.
NEXT HOUSING WAS SCARCE IN OUR
STATE ANY WAY BEFORE
CORONAVIRUS.
ANYTHING SPECIAL THAT WOULD
NEED TO DO TO SET MYSELF APART
FROM OTHER BUYERS?
>> WELL NUMBER ONE, I WOULD GET
A VERY VERY SEASONED REAL
ESTATE AGENT.
BECAUSE YOU ARE GOING TO NEED
SOMEONE WHO CAN REALLY NAVIGATE
AND KNOW HOW TO PRESENT YOU.
YOU HAVE GOT TO HAVE A
PRESENTATION IS EVERYTHING.
AND YOUR NEGOTIATION SKILLS ARE
KEY BECAUSE YOU ARE GOING TO
WANT TO KNOW HOW YOU CAN STAND
APART FROM THOSE
OTHER BUYERS THAT MIGHT MEAN
YOU ARE PUTTING A LARGER
DEPOSIT IN, IT MIGHT MEAN YOU
SHORTEN YOUR CONTINGENCY
PERIOD.
THERE IS ALL DIFFERENT LITTLE
WAYS THAT CAN YOU STAND OUT AND
HOW YOU PRESENT YOURSELF, MAYBE
YOU DO A VIDEO
AND YOU SPEAK TO THE SELLER
THAT YOU ARE LOOKING TO HAVE
ENTERTAIN YOUR OFFER AND YOU
COMPEL THEM IN THAT WAY.
OKAY.
QUICK ONE TONI, WE ARE OUT OF
TIME.
IS IT A BUYERS OR SELLERS
MARKET RIGHT NOW?
OH, BOY.
WHEW, I WOULD SAY IT IS