Open House with Team Reba

In this broadcast of Open House, Reba and Eric have on Darcel Lobo of Dal Law to discuss probate, along with the complications arising from somebody’s passing, and the subsequent decisions and expenses facing the heirs of an estate.Learn the difference between a will and a trust, why probate may be required even if there’s a will, what expenses, legal actions and timelines may be involved in probate – and most importantly – how you and your loved ones can adequately plan and communicate arrangements for that unpleasant eventuality well in advance of the funeral. Need a top-notch estate attorney to help you prepare?  Darcel Lobo is there for you at darcel@dallawfirm.com or 206-408-8158.  And visit the Dal Law site at www.dallawfirm.com.Support the show

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On this episode of Open House, Reba and Eric cover a smorgasbord of topics, from the rules on jumbo loans and the post-crash crackdowns on lending, to government subsidies brought about by the Dust Bowl of the Depression era.  Eric describes what EPMI is, and how it can help save people with good credit on their mortgage payments, and Reba talks downtown condos, pre-inspections and the problems with pests.It’s a classic conversation on useful home and lending tips from your experts in real estate, finance and all things fun-loving.   Support the show

Covid didn’t just modify people’s work habits and routines, but also their living (and even their boating) arrangements.  On this episode of Open House, Reba and Eric dive into an ocean of lending and real estate dynamics, surfacing with treasures of cost-saving tips, financial planning advice and boating lore.You’ll come away from this broadcast understanding the different rates of interest on second homes versus owner-occupied residences (and where the loopholes are), the consequences of converting forestry land into residential, and how to “properly” rename your boat (hint: don’t skimp on the christening.)So start your audio engines and come sail the seas of informative mayhem on this broadcast of Open House with Team Reba.Support the show

In this episode of Open House with Team Reba, Laura Elfline is back to discuss the virtual Green Home Tour which took place in May 2021, along with her colleague, Paul Kocharhook of Pathway DC design, a design construction company with an emphasis on green construction methods and “Universal Design” renovations which allow people to ‘age in place’.Learn how green homes make for healthy living, what the meaning of “functional obsolescence” is in terms of home design, and why it’s best to make needed improvements and renovations to your home while you can.Check out the work of Pathway DC at: www.pathwaydc.comAnd visit Laura Elfline’s sites at: www.mightyhouseconstruction.com and www.mightyenergy.netWant to give to help the Green Home Tour continue its work?  Visit www.ecobuilding.org. Support the show

When somebody dies, the vultures gather.  It’s not only true for the unfortunate straggler crawling through the desert, but down along the dark underbelly of the real estate industry as well.  In this episode of Open House, Reba and Eric take a close-up look at the tactics of “equity skimming” firms who take advantage of the vulnerable, be it the elderly homeowner unaware of their property’s actual value, or the grieving family of the recently deceased.Learn how to recognize the tell-tale signs of such scams, as well as the rare instances when it may be to your advantage to take them up on their ‘vulturistic’ offers, along with special arrangements you can make with contractors to pay them on a renovation job only after the sale on the home closes, as well as a host of other tips and tricks for getting the most out of the market for your home.  Get out your binoculars, because Reba and Eric are going vulture spotting, in this episode of Open House with Team Reba.Support the show

What story are you telling with your money?  Do your investments reflect your values?  Are you planning financially for the different stages of your life?  Are you building a legacy you can be proud of?  On this broadcast of Open House,  Eric and Reba ask Brittany Gautreau of Clarity Capital Partners in Bellevue, WA at Home | Clarity Capital Partners (claritycapitalllc.com) about financial planning tactics and focus for your 20’s, 40’s, 60’s and beyond.Plus, Reba and Eric talk Skagit Valley and fun places to visit in Conway, La Conner, and Anacortes.It’s a fun and informative dive into finances, and tiptoeing through the tulips, on this broadcast of Open House with Team Reba. Support the show

In this broadcast of Open House, Reba and Eric offer up a sampler platter of money matters: from the impact of geography on closing costs, to changes in interest rates on second homes, to the threat of foreclosure on properties with a reverse mortgage, to the importance and rules of earnest money.Sprinkled over this ‘home-dollars salad’ are suggested places to visit in La Conner and Anacortes,  tips for keeping your water heater from burning down your house, and the explanation for why some appliances and cars went on back order.Plus an important shout out to the Major Appliance Repair Technician program at Renton Technical College.It’s a fun-and-fact-filled extravaganza with your team of experts in real estate and financing on this episode of Open House with Team Reba. Support the show

Guest Kyle Woodring – Government & Public Affairs for Rental Housing Association of Washington (www.RHAWA.org) In this episode we start off with a discussion on what’s happening in the world of appraisals and issues coming up in the residential real estate sector. What happens when an appraisal comes in under the sale price, especially on a house in a bidding war, and how they’re rated by lenders. After, we spend the rest of the show talking with Kyle about where we are in the Eviction Moratorium process here in WA, a bit about SB5160 and other bills surrounding how landlords can get back control of their rental properties/investments. HB1236 and the Just Cause requirements around termination of tenancy and how it will impact rental leases in the near future.Support the show

Discussion of how appraisals can potentially put a hiccup in your real estate transaction and risks around preinspections. Guest is Darcel Lobo of DAL Law Firm www.dallawfirm.com located in Normandy Park, WA. Darcel is a Bankruptcy, Estate Planning & Probate, and Real Estate Law attorney. We cover important items around how Covid-19 has impacted small business owners and how they can get assistance BEFORE actually having to consider bankruptcy. What is a “personal guaranty” and the impact of those, if you weren’t aware, plus how they relate to the PPP and EIDL loans given out during Covid. A lot of excellent work can be done to help prevent this option IF you get help as soon as possible. Planning and getting into the discussion early is key! Darcel covers what you can expect and what to be prepared for if you need to consider this option.Support the show

In the episode of Open House with Team Reba,  Eric and Reba conclude their “changes” series by digging deeper into the impact of recent revisions to lending and home purchase forms.  There are over 34,000 agents in Washington state (some of whom may well be the world’s worst.)  If your realtor doesn’t have a clue about the demands of these forms, you could end up losing your shirt.  Listening to this show, you'll learn how some forms can put your money at risk, what it is about the Northwest that causes real estate inventory to be so scarce, and why real estate will never be sold online.  Plus, what needs to be strong for a kitchen remodel? (hint: it isn’t just your finances).It’s a surprisingly fun and informative romp through the often-confusing world of real estate and lending contracts on this episode of Open House with Team Reba.Support the show

This is part 1 in a series of “changes” broadcasts where Eric and Reba dive into the ramifications of significant recent modifications to both home purchasing contracts, and the real estate and lending industries.You’ll come away from this show more familiar with the concept of agency, and particularly the ethical dilemmas arising from dual-agency.   You’ll also get a better idea about reforms underway in agent compensation, and why that’s a good thing.But not all changes are good for everyone... and some of them coming to earnest money could cost you a bundle!  Be informed, or you could be left with... just change.Cha-cha-cha-changes coming at you in this episode of Open House with Team Reba.Support the show

Competition in the housing market is  ferocious, resulting in some would-be homebuyers spending months on an unsuccessful search!  In this episode of Open House, Reba and Eric examine best tactics for making the winning bid, and dangers to avoid along the way.Learn what you should expect from a buyer's agent in the bidding process, the risks of underestimating your closing date, what TRID is, what escalation is, and why “highest and best” on an offer is not good idea (and neither is waiving an inspection).Compete like a pro for the home you desire.  Learn how on this episode of Open House with Team Reba.Support the show

On this episode of Open House, Reba and Eric cover everything from the impact of marital status on house transactions, to the importance of good relationships between inspectors and vendors, to some of the things you need to be keeping an eye on whether you’re shopping for a new home or just looking over your own.Learn about the unintended consequences of urban sprawl, overflowing gutters, crumbling chimney masonry, along with tips for protecting your home in ugly weather (and tips for driving in ugly weather too!).  It’s all coming at you on this episode of Open House with Team Reba.Support the show

Real Estate scammers are a special kind of evil.  They really aren’t equal-opportunity targeters.  They’re not even going after the generally gullible.  Their sights are set on the elderly, grieving or otherwise vulnerable, and that’s why they need to be stopped.In this episode of Open House, Reba and Eric examine a number of scams designed to take advantage of seniors and the bereaved.  Keep your eyes open for these tell-tale signs, because sooner or later they’re likely to come after you or a loved one.Plus, a look at the last minute surprises you could find in the attic or crawlspace of a listed home, important rule changes made in lending practices since 2010, the impact of Seattle’s “Summer of Love” and the reason people are choosing homes in the suburbs over condos in the city.Protect your backside and get a brainload of real estate and lending tips in this episode of Open House with Team Reba.Support the show

Insurance is one of the few things in life that you buy hoping never to use - notwithstanding folks who make insurance claims in lieu of regular home maintenance – a reason rates are going up for everyone.In this episode of Open House, Reba and Eric tap into four decades of insurance expertise with guest Gail Welfringer of First Mark Insurance.You’ll come away from this show with a better sense of available options vis-a-vis rates, deductibles and coverage, how insurance companies assess whether a claim falls under uncovered “maintenance” or covered accidental damage, what factors go into calculating the cost of full coverage, and why people sometimes lose coverage.Who knew insurance could be so interesting?  Reba and Eric did.  Get all the important details on this broadcast of Open House with Team Reba.Support the show

Searri Shipman from Inside Out Tax & Accounting www.insideouttaxhelp.com  – How will COVID-19 affect tax returns this year? Listen in while Searri runs us through the ins and outs of tax returns and Covid, deductions which can be taken and the discussion of whether or not extensions may occur this year, like in 2020. Small business owners will want to hear about PPP and EIDL tax requirements as well as IRS, SBA and stimulus bill details. The CARES Act also comes into play for anyone who is making withdrawals. With “work from home” being more common, expectations are that home office deductions will also be a new possible deduction for those who can still itemize over the standard deduction – what to consider to make sure you don’t trigger an audit flag.  Support the show

Good news as we go into 2021 foreclosure rates are 96% lower than 2010.Segment 1. Market information and updates:Interest rates for 2021, what to expect- Janet Yellin - may be secretary of the treasury.- Debt loads and the USA needing to borrow to pay debt.- Lower rates expected short term but long term may be going up.Segment 2. Housing stats and what this week shows of on market listings.Segment 3. House bill 5160 and the big negative impact it will have on small landlords. 2 Year required, SB5139 prohibit housing provider from raising rent when allowed only rate increase of 3%.Segment 4. WTF story, agent acting as a general contractor work gone wrong, closing days and best practices for moving/buffers. Support the show

Segment 1: Covering the locations where you can go online like www.annualcreditreport.com for your legally approved annual report, to check to make sure there are no anomalies, plus www.myFICO.com for purchasing your credit score. These are separate items, so be aware of the difference and listen in to learn more about it. Notice to listeners that the “credit repair” and “debt recovery” companies who are taking lots of air time with ads recently are basically wolves in sheep clothing, preying on consumers who are in tough spots. Best to go to www.HUD.gov for assistance.Segment 2: What happens when debt is forgiven and you go to do your tax return? Be sure to discuss with a tax professional regarding insolvency and if you qualify. Want to know what happens when you dispute something on your credit report? We cover some best practices along with how to talk to creditors for best results.Segment 3: Forbearance and how it will impact (or not) your credit score. During COVID there are 5 main areas considered 1. Forbearance, 2. Current, 3. Deferment, 4. Modification, 5. Covid-declared disaster. What happens if you do a settlement instead and pay less than what is owed? We cover what that can do to your credit score as well. Brief touch on bankruptcy within this realm too.Segment 4: Identity theft and how to limit it from happening. What is a credit freeze vs. credit lock. How to get the best FICO score over time and planning ahead to make it happen, especially if you’re considering a major purchase like a house, car or other higher priced item.Support the show

Segment 1: Real Estate home sales in the Puget Sound region are BUSY! With nearly 3:1 ratio of buyers to sellers, we are looking for people interested in selling soon because demand is very pent up. Which leads into the fact that affordability is even better now with a NEW 52-week low in rates. Segment 2: Eric shares with us how wonderful these rates are in almost all categories of loan products. Introduction to Casey McLean and what SR3 stands for – SeaLife Response + Rehab + Research. The program helps with responding to a wide variety of local sea life which may be in distress and provides veterinary care, rehabilitation where possible, and does ongoing collaborative research with several groups tracking the health of local species and the affects of humans on Puget Sound and the Salish Sea.Segment 3: How SR3 gets their funding which includes grants and foundations providing funds, but there are also opportunities for individuals to donate as well as buy swag and get involved in sealife adoption programs. Head to the www.SR3.org website for more info! Volunteer opportunities exist to help onsite in Des Moines, WA to help with the feeding, clean up, beach response and more. The site at Des Moines will be open by the end of January on a more official level, but the program has been running since 2011 getting more staffing in 2016 after building up from a grass-roots effort. Segment 4: Programs within the 3 segments include items such as dealing with whales entangled in a variety of man made problems such as fishing nets, cables, and more. Learn more about how to reach out and help if you see a whale or other sea life in distress. DO NOT approach, but do call the experts who are trained to assist!Support the show