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Central PA Real Estate Podcast with Dave Hooke

Dave Hooke

If you are looking to buy or sell a home, get all the information and the latest updates, tips, and tricks from The Dave Hooke Team - your professional Central PA Real Estate Agents.

  • 13 September 2017, 8:23 pm
    How to Hire a Marketing Assistant


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    Alex and Danny were both hired as minimum-wage marketing assistants, but they’ve leveraged their positions to set them up for future success. Here’s how. We hadn’t had much success in the past hiring high-paid marketing assistants, so we decided that a new strategy would be necessary. Instead of hiring a high-paid expert, we would hire someone who would agree to work for minimum wage in exchange for the education and opportunities that we can provide here at Vyral. This process has yielded good results so far—just ask Alex and Danny. They were both initially interested in the position because of the opportunity of a $50,000 + salary six months down the road. However, once they went through the interview process they realized it was a perfect fit.
    We’ve created a culture here at Vyral that is all about improving and learning each day.  
    This was no accident. Our eight-step hiring process ensures that we only get the best and most motivated candidates. With all the steps we take to filter candidates, it’s inevitable. Our interview process is a bit unorthodox, but ultimately rewarding. We first contact candidates via email and ask them to fill out a personal assessment, as well as answering five questions on video. After that, we set up a Skype meeting, then an in-person meeting, then an interview. It’s a big deal when you make the wrong hire. That’s why we have a process in place to ensure we only get the best candidates. You should have one, too. We’ve created a culture here at Vyral that is all about improving and learning each day. That’s why we’ve been able to attract such great talent.
  • 6 June 2017, 9:03 pm
    Should I Have Real Estate in My Retirement?

    Should you invest in real estate as part of your retirement? Today I’ve listed some pros and cons to help you decide if this is right for you.
    Buying an Pennsylvania Home? Search ALL Homes For Sale Selling Your  Pennsylvania  Home? Get a FREE Home Value Report
    Today I want to talk to you about investing in real estate as part of your retirement plan. I’m a little biased, because I have invested in real estate as part of my own retirement, but I’ll do my best to be objective. Here are some pros and cons of investing in real estate:
    Cons
    1. You have to have active knowledge about the industry. If you want to invest in real estate locally, you have to learn about the industry and understand its inner workings.
    2. You have to actively manage the properties. This can be time consuming, because you will be actively managing maintenance calls, setting up showings, and running the properties. Unless you have a ton of capital, you’ll be doing all these things yourself.
    3. You have to have a significant amount of capital. There are stories about ways to get creative and put little or no money down, but those are the exception, not the rule.
    A good strategy is to buy a property at or around the birth of a child.  
    Pros
    1. You’ll get a significantly higher return on your investment. This is assuming you’re in a decently appreciating market like south-central Pennsylvania and you’re holding the property for the long-term, not just short-term sales.
    2. There are significant tax advantages to investing in real estate. It’s best to speak with an accountant about the details, but if you buy enough real estate, those tax advantages do add up over the years.
    3. You can eliminate most of the risks involved in investing in real estate if you’ve taken the time to understand the industry and you’re investing in a market that remains moderately stable and isn’t as volatile as some of the other markets in our nation.This is especially true with long-term ownership and residential rental properties.

    One of the strategies that I particularly love is buying a property at or around the time of the birth of a child. You can then pay it down and use tax-free refinance income or equity to pay for all or part of the child’s college education. You can then pay it back down and do the same thing to supplement your retirement income later down the road. You’re using the same property for a dual purpose, and it makes the investment valuable to you and your family.
    I think that real estate investment is a great way to save for retirement alongside other investments like securities and other investment tools and is a great way to get you farther in reaching your retirement goals.
    If you have any questions about real estate or anything else in the real estate market, please don’t hesitate to reach out. I’d be happy to help you.
  • 31 March 2017, 4:33 pm
    What Are My 5 Incredible Tips for First-Time Home Sellers?

    Selling your home for the first time doesn’t need to be difficult or stressful. Here are five tips to ensure that your first home sale goes off without a hitch.
    Buying an Pennsylvania Home? Search ALL Homes For Sale Selling Your  Pennsylvania  Home? Get a FREE Home Value Report
    Here are five incredible tips you can use as a first-time home seller to ensure a fast and lucrative home sale: 1. Hire your agent based on a written marketing plan. Any agent can come into your home and throw out a price that’s attractive. The question is whether they can get it for you or not. Make sure you ask your agent for a written marketing plan that you understand and ask them questions about their experience. Also, make sure they’re a good personality fit for you. We always counsel our sellers to interview two or three agents so they choose the one who’s the best fit. 2. Price your home accurately. That experienced agent you hired with a written marketing strategy should have a thorough, comparative market analysis (CMA) done so you can not only understand what price range they’re advising you on, but the why behind that price range. That’s critical to getting a buyer to offer the purchase price. Also, ask your agent to help guide you where you should position your home within that price range based on your goals and motivations—not theirs. 3. Ask your agent for a consultation to help you prepare your home for sale. This can include two things. The first is a walkthrough consultation with a list of items that are cost-effective ways to maximize your home value. The second thing they can do is advise you on staging your home. A staged home tends to sell faster and for more money.
    Make sure your agent is a good fit for you overall.  

     4. Be flexible on your showings. There’s nothing worse than declining a showing from an out-of-town buyer who’s only in town for a day or two only to find out later that they pulled the trigger on a different home.

     5. Insist on professional photography. More and more agents are electing to use professional photography, and it does cost money. But it’s more critical than ever to make sure your home has clear, clean, high-definition photos. It will make your home stand out, garner more showings, and sell for a greater amount of money. 

     If you have a question about the value of your home or want a consultation, please don’t hesitate to reach out to us. We’d be happy to take care of you!
  • 16 March 2017, 7:56 pm
    The Truth About Current Down Payment Requirements

    What are the current down payment requirements for purchasing a home? Despite what you might think, you don’t actually need to put 20% down.
    Buying an Pennsylvania Home? Search ALL Homes For Sale Selling Your  Pennsylvania  Home? Get a FREE Home Value Report
    What are the current down payment requirements for getting into a home? First of all, according to the National Association of Realtors, the majority of people in the United States think that you need 20% down to purchase a home. That is simply not true. To give you some perspective, the median down payment for first-time homebuyers has been 5% for decades. There are many programs available to buyers that only require 3% down, and there are some special loan programs that don’t require any money down. You can even get grant money for closing cost assistance to get into a home.
    Ask a local mortgage provider to find the best option for you  

    Ultimately, you need to talk to a local mortgage provider to assess your financial needs and profile so they can recommend a custom mortgage solution. Now may be the right time for you to make your first or second home purchase. 

     If you need a list of local lenders or if you have any other questions, give me a call or send me an email. I would be happy to help you!
  • 27 February 2017, 5:28 pm
    3 Reasons You Should Be Selling Your Home in 2017

    There are three reasons why you should consider selling your home this year.
    Buying an Pennsylvania Home? Search ALL Homes For Sale Selling Your  Pennsylvania  Home? Get a FREE Home Value Report
    If you’ve been thinking about selling your home this year, you need to pull the trigger. Here are three reasons why. 1. Mortgage interest rates are still low. Although interest rates have been rising since October, the 30-year fixed home mortgage rate is still historically low. This means buyers still have plenty of buying power in the market right now.

     2. Inventory is shrinking. In 2007, according to the National Association of Realtors, home inventory was just about 4 million homes for sale and in 2016, fewer than 2 million homes were for sale. Right now, home sellers have way less competition.

    3. Home prices are rising. We have had 54 months of non-stop home appreciation. In fact, the median home price since November of 2015 has increased by 6.8%, which means right now is a great time to get the most money for your home.
    2017 will be the best year to sell a home in the past nine years.  

    If you or anyone you know is looking to take advantage of this market and would like a free home value estimate, my team and I would be happy to give you all the information you need to make an informed decision on whether to sell your home or not. 

     As always, if you have any questions please feel free to give me a call or send me an email. I look forward to hearing from you!
  • 9 February 2017, 9:26 pm
    3 Reasons Why You Can’t Trust a Zestimate

    Can you trust Zillow’s Zestimates to come up with the correct value for your home? Unfortunately, the answer is no, and there are three reasons why.
    Buying an Pennsylvania Home? Search ALL Homes For Sale Selling Your  Pennsylvania  Home? Get a FREE Home Value Report
    A lot of people ask whether the home value they find on Zillow, also known as a Zestimate, is accurate. Can you really trust that Zestimate? Zestimates work almost the same way as a tax assessment: Zillow’s algorithm takes the sale prices of homes that are similar to yours and in the same area, then it compares that information to your property’s square footage in order to come up with an estimate on the value of your property. Unfortunately, the reality is that, although they can be accurate sometimes, Zestimates are often incorrect. On average, the Zestimate has a margin of error of about 20%.
    Zestimates have a 20% margin of error.  

    There are three factors that impact the accuracy (or inaccuracy) of your Zestimate: 

     1. Your property’s location. If you live in a cookie-cutter subdivision that has a lot of like-kind houses and a high number of recent sales, then it’s highly likely that your Zestimate will be more reflective of the accurate value of your home. However, if your property is in a very unique area or if you have a rural property with a lot of unique features, then it’s less likely that the Zestimate will be accurate. 

     2. Your property’s condition. If you made a lot of recent updates, the homes around you are not similar, or if your home has unique features such as a finished basement, a Zestimate will probably not factor those features into its calculation. 

     3. Your property’s location in relation to recent sales. For example, you may live in that cookie-cutter subdivision, but if you live on the edge, then the algorithm will take properties outside of the subdivision into consideration when calculating your Zestimate. Those properties might just be a block away but if they are completely different than yours, that will definitely throw off your Zestimate. If you live in a subdivision where all the homes are bigger than yours or sit on a larger lot, then your Zestimate will also be incorrect.

     Your Zestimate really depends on those three factors in your local real estate market. 

     If you would like a more customized and accurate home value estimate, give us a call. This spring, we are offering a free, no obligation, maximum home valuation. Our representatives will go through your home, give you a detailed estimate of value, and provide a list of suggestions that you can use to maximize your home’s value. In other words, we will give you a list of things that will get you a good return on investment and increase your overall sales price. 

     If you have any questions, please don’t hesitate to reach out to us. We would be happy to help you!

  • 24 January 2017, 5:59 pm
    5 Sale-Killing Mistakes to Avoid in Your Listing Photos

    Listing photos are an important part of the home selling process. However, there are five sale-killing mistakes you need to avoid when taking listing photos.
    Buying an Pennsylvania Home? Search ALL Homes For Sale Selling Your  Pennsylvania  Home? Get a FREE Home Value Report
    When you sell your home, the listings photos are an incredibly important part of getting prospective buyers into it. However, there are five sale-killing mistakes that you need to avoid when you take your listing photos: 1. No more corners. For some reason, sellers love to take pictures of the corners of different rooms in their home. Nothing is gained from buyers looking at the corners of a room; instead, photograph focal points in each room. 2. The grass is always greener. Photos of nature surrounding your home make sense if you are focusing on some kind of flora or fauna. However, a close-up on the bark of your tree or a patch in your lawn does not make sense. Take a broad picture of your home with nature behind it or highlight some specific aspect of your landscaping. 3. On the outside looking in. Don’t just take exterior photos of your home. If you do, the buyer will wonder what is wrong with the home. Make sure there are plenty of high definition photos of the interior of your home.
    There aren’t many people who want to buy a haunted house.  

     4. A haunted look doesn’t help. If your photos make your home look menacing, make sure you redo them. Dark, grainy photos with unclear shadows can make your home look haunted. Pictures that you take on your phone won’t make the cut, either. Make sure you have quality, professional photos. 

     5. Let the sunshine in. It is a scientific fact that bright, well-lit homes sell faster and for more money. Give the public what they want and make sure your home is as bright as possible. 

     If you have any other questions about listing photos or the home selling process in general, just give me a call or send me an email. I would be happy to help you!

  • 14 December 2016, 4:45 pm
    How Holiday Decor Can Amp Up Your Curb Appeal

    Whether you're selling your home or just want it to look great, you can use holiday decor to seriously boost your curb appeal. I have four ways to share with you today.
    Buying an Pennsylvania Home? Search ALL Homes For Sale Selling Your  Pennsylvania  Home? Get a FREE Home Value Report
    Certain holiday decor can really amp us your home's curb appeal. Today, I wanted to give you a list of the top four ways to utilize it:

    1. Highlight your home's architecture. Consider edging your home's roof, windows, or trim with holiday decorations to take advantage of and highlight your home's architecture.

     2. Landscaping. Net lights make decorating with your landscape so easy that your kids can do it. Lay them over your hedges and take advantage of all the landscaping aspects that your home offers.
    Don't forget about your front door.  

    4. Spread the love. Gates, walkways, fences, and your entryway are great opportunities to extend your decor to your entire front yard.

     5. Don't forget about your front door. This can be as easy as adding a wreath. Whether you go with store bought or homemade, the opportunities are endless.

    These four tips will really help you boost that curb appeal, whether you're selling or not. 

     I hope you enjoyed this topic and all the topics we discuss in our videos. If you have any feedback for us or topics you'd like to learn more about, reach out to us anytime via phone or email. We look forward to hearing from you.

  • 13 December 2016, 6:08 pm
    What Can You Do to Save for a Down Payment?

    Every buyer knows that they need a down payment in order to purchase a home. Today, I’ll go over five unique options you can use to save for your down payment.
    Buying an Pennsylvania Home? Search ALL Homes For Sale Selling Your  Pennsylvania  Home? Get a FREE Home Value Report
    When buying a home, it’s very important that you have your down payment ready to go. Here are a few unique options to help you save for a down payment:

    1. Consider crowdsourcing your home.

     2. Ask the seller for help. Asking the seller to assist with closing costs is a common way to free up more money for your down payment. Ask your lender what the limits for closing costs are on your loan program, and then ask your Realtor to help negotiate for the seller to pay the closing costs on your behalf.

     3. Look into government options. The department of Housing and Urban Development, or HUD, has a site with links to all 50 states. These links provide information on different options to help you get the home of your dreams. There is also the Good Neighbor Next Door program, which provides closing cost assistance for teachers, firefighters, police officers, and more. Of course, there is also the VA loan, which helps veterans purchase homes.
    If the seller pays closing costs, you’ll have more money for the down payment.  

    4. Check with your employer. Some employers offer programs to help low-to-moderate income employees purchase a home.

     5. Take advantage of special lender financing options, such as a USDA or FHA loan. You may have to meet certain income requirements in order to qualify for one of these loans. The property has to meet certain requirements as well, but these are great options to help buyers get the home of their dreams.

     Of course, you can always combine some of these options to get the home that you want. If you have any questions about any of these five methods, just give me a call or send me an email. I would be happy to help you!

  • 29 November 2016, 7:02 pm
    7 Questions to Ask Before Hiring an Agent

    When hiring an agent to sell your home, make sure to ask them these seven questions in order to pick the best one for the job.
    Buying an Pennsylvania Home? Search ALL Homes For Sale Selling Your  Pennsylvania  Home? Get a FREE Home Value Report
    If you are planning on selling your home, how can you make sure that you select the best agent for the job? We have seven questions that you should ask when interviewing agents in order to hire the best one.

     1. How long have you been selling homes? You wouldn’t want to go to a doctor who’s just one year out of medical school. It’s helpful to have an agent that’s been in the business a while and has some experience under their belt.

     2. How many homes did you sell last year? A lot of agents like to tout the success of their company. Ask them how they have done year to year. Ask them to bring that data along to the interview. Again, it’s helpful to work with an agent who has a lot of experience. You could have a long-time veteran agent who has been in the industry for 20 years but only sells two homes a year, or you could have an agent who’s been working for four years but sells 30 to 40 homes a year. The second agent would have more experience.
    Not all real estate agents are Realtors.  

     3. How are you going to market my home? It’s important to have a detailed marketing plan that is written down. 

     4. Will you represent me exclusively? In Pennsylvania, an agent can represent you the seller, or the buyer, or both. If an agent is going to do dual agency, make sure that you understand it and consent to it. 

     5. How will you keep me informed? We find that communication is one of the most important things to our sellers and clients. Ask them what their communication plan is and how often they intend to talk to you. 

     6. Can you provide references? Ask for three or more references and ask for contact information. Make sure that you follow up with them so you can see what their experience was working with this agent. 

     7. Are you a Realtor? Not all real estate agents are Realtors. If your agent is a Realtor, that means they are a member of the National Association of Realtors, which has been a champion for professionalism and ethics in real estate for over a century. 

     Those seven questions will help you pick the best agent for the job. If you have any other questions about hiring an agent or selling your home, give us a call or send us an email. We would be happy to help you!

  • 14 November 2016, 5:04 pm
    What Do You Need to Know About Home Inspections?

    If you’re a home buyer, there are five things you need to know about how home inspections function.
    Buying an Pennsylvania Home? Search ALL Homes For Sale Selling Your  Pennsylvania  Home? Get a FREE Home Value Report
    As a home buyer, what are the five most important things to know about home inspections?

     1. You can choose your own inspector. You can get a referral from a real estate agent or someone else who’s recently bought a home or just look up the National Association of Home Inspectors. This is an association that home inspectors are typically members of if they’re qualified. If they’re members of that association, they’ve typically completed a training program, shown competence in the home inspection trade, and completed a written exam.

     2. Inspections are not a pass/fail process. A lot of our clients believe that the inspection is a black and white result, but that’s not the case. On the contrary, home inspections are often general reports that consist of 20 to 40 pages of general information about the home which you can use for many years into the future in reference to the structural elements of your home. They do include a list of material defects and (usually) safety issues, and it’s your responsibility to determine if those things are concerning enough to impact whether you’re going to purchase the home or not.
    Inspections aren’t black and white.  

     3. Inspections are intended for adverse conditions. They’re not necessarily just for cosmetic issues. We advise that you attend the inspection just so you can talk with the home inspector about what’s important and what’s not, in their opinion. No house is perfect; all of them have some adverse conditions and defects that are listed in the inspection.

     4. Our agreements of sale in Pennsylvania allow the home buyer three different options as the result of the inspection period. The first option is to accept the property based on the information in the report. The second option is to terminate the agreement and get your earnest money back. The third (and most common) is to ask the seller to repair some of the items that came up in the report.

     5. Home inspectors are not specialists. They are more like general practitioners that are going to give you information about all aspects of the home. We advise that you consult a specialist like an electrician or a plumber if there is a major issue that needs to be addressed. Do this before you choose any of the options discussed in number four.

     If you have any questions about home inspections or anything else related to real estate, please don’t hesitate to give us a call or shoot us an email. We look forward to talking with you soon!

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