The Five Most Common Questions in Real Estate

Randal:
Ask me something new. These are the five most commonly asked in real estate.

Erik:
Welcome to stay focused, Focus Real Estate's weekly video series. And this week we have an edition of our focus five. This week it's the five most commonly asked questions that we hear.

Randal:
And the most abbreviated answer you'll ever get from us day in and day out.

Erik:
Day in and day out.

Randal:
First one is-

Erik:
How is the market?

Randal:
How is the market? We always say, how is the market? Well, it depends. Are you a buyer, are you a seller, are you a renter? Where are you moving to?

Erik:
What market?

Randal:
It really makes a difference.

Erik:
Yeah.

Randal:
The market is different, no matter where you are, what kind of property you own, whether you're buying them, selling them or renting them. That's our short answer. No more.

Erik:
Lots of real estate markets.

Randal:
No more answers.

Erik:
Number two.

Randal:
Number two. Oh my gosh.

Erik:
Can you tell me about the neighborhood, or about the neighbors?

Randal:
Our licensed law prohibits us from answering any questions about safety or ethic makeup in a neighborhood. We're bound by our licensed law not to answer that question. How do we answer that question? Exactly like that. And then we say, go knock on some doors. Your neighbors aren't bound by the same restrictions we are. And they're more than happy to talk about their neighborhood. Next question.

Erik:
What is my home worth?

Randal:
And that's why people do count on us, right? How much is my home worth? Because you can go to Zillow, you can go to Trulia, you can go to Realtor, you can go to Redfin, you can go to all these places and they will give you an algorithmically answered-

Erik:
Computer generated number-

Randal:
How much is-

Erik:
Or you can get an agent who just shoots off the hip and just says, "I think it's worth this or so".

Randal:
But it's really important to know exactly what your home is worth, so call us and let us know how we can help you answer that question.

Erik:
Number four.

Randal:
When is the best time to buy and or sell?

Erik:
Or sell?

Randal:
When you're ready. Really?

Erik:
Are you going to try to time the market?

Randal:
Yeah. When you're ready to move.

Erik:
Yep.

Randal:
If everybody will always get this answer for me as well, if moving two or three times is not inconvenient for you, the best time to sell is in the spring and the best time to buy as in the fall.

Erik:
Or winter.

Randal:
Or winter. Those are the best times to buy and sell.

Erik:
At least here in New England.

Randal:
All right, number five.

Erik:
Number five.

Randal:
Is this a good investment?

Erik:
I wish we always had a crystal ball whenever we were working with a buyer or seller and we could tell them what the future was going to be and what product, real estate.

Randal:
Real estate is not an investment, ladies and gentlemen. Real estate is a security. Real estate appreciates the same way at the same rate of inflation. Although more people get wealthy in the United States making real estate investments than any other way, it's because of the way it's held and paid for that it makes people wealthy in that process because you're basically buying a house on today's prices and it's going to appreciate over the next 100 years, whatever that is, 10 years, 20 years, 30 years, on an average of about 5% a year.

Erik:
Yeah, typically over the last 50 years real estate has appreciated about 5% a year.

Randal:
Homes appreciate.

Erik:
Different homes, different locations.

Randal:
Are we getting into the long answer now?

Erik:
Long answer. That's our focus five.

Randal:
I keep trying to make them short. Anyway.

Erik:
Anyway, those are five most commonly asked questions.

Randal:
We're ready.

Erik:
If you have some other questions, we're happy to answer though.

Randal:
Yeah.

Erik:
Just not in this video.

Randal:
Thanks for watching, everybody. Until next time, stay tuned and stay focused.

Erik:
Stay tuned and stay focused.

Erik:
If I hear another one of these again.