06-17 WNY at Work

Western New York at Work
Sunday, June 17th

Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

Welcome to western new York at work with dale Martin and Warren Lewis join in the conversation about sports jobs and economic development. And the people who make it all happen. If you're interested in growing your business understanding the latest trends in and around Western New York. Then join the discussion at 8031520. Now here's tail markings and Lauren Lewis. Good morning buffalo welcome to western new York and work your business friendly conversation. Right here ESPN 15:20 am on a beautiful Sunday morning. Join what my wonderful co host hello Louis lowering good morning. Good morning out happy Father's Day happy I Xeon. I the dads out there who tune into us near Taylor what a beautiful day to celebrate. Really I guess it's gorgeous hot summer day in western new York and yes that's when mentioned. Happy Father's Day to to all of the dance our fear that dad's a grand danced locals to Brothers. You know what. You don't have to be deep. A debris have the birthright to a summoned to order to in my opinion to be a father if you are an inspiration to our two key is today's. You know that in my opinion that represents being a B and a father but I will talk a lot of that not only get to sentiment so. YS EC I just I mean I'm not a dad and I don't have kids that I love still celebrate fathers' atlas celebrating with. My dad and my Brothers in new dads there on celebrate today and just it's nice time did you with people you love and care not matter what that relationship it. Correct and speaking of being with people you love and be around people were joined today with two wonderful professionals. Mr. trade McDermott and at least for a liberal both of you guys are going to be part of today's. Our launch of our realistic conversation everything real estate but before we quit that would like to keep your chances just you know acknowledge your thoughts and you know. Or anything you would like to say relative to front Wednesday. Good morning Gayle stream McDermott here in the eyes AG OK thank you very much she's and he's telling. Yes seventeen and want me. Awesome yeah is that a lot of years there's nothing here that it almost. That's shared great dad yeah. Wildly they seem to think that argument when it counts below our brides are making. Yes I agree I would. Like to wish a happy Father's Day to my Brothers my brother in laws my father's well and my father in law so Lott thanks for having us here. Yes to that we couldn't do this thing it's actually really nice the little toast I'm glad to be here and thanks for inviting me along to participate in the show started this realistic conversation. And let us figure cotton master your great out there at the ceiling and and at least and the hours at a realistic to think you for joining us this morning and yeah it might be nice juicy and then what happened on Thursday ticket out thanks so much and not having your family must dash out to my dad. And he's listening lines working and the heat out of south. That's at Austin. You recently had some bonds some new US and your family so from brother Gerson is easier dead as well no he's getting married on Saturday and my other brother is it out of wonderful needs men needs Allah to him as well future dad's campaign and I happen to know. It's your uncle or your cousin Greg my uncle are dragging happened I have seven lion sides. My other uncle so we get for it examined so happy Father's Day known. OK pretty well with that yes and actually kind of goal or. Transition to our feature conversation of the witches and everything real estate. And so I think the best way to started there is are one of the kind of kick off the conversation sure a little bit about who your what you do relative to the roles that you are you occupier. What I guess I'll start here. I have. Trim direct and I work at it I work at haunt real estate in the residential doable dabbling in the commercial as well. Am and then actually in the construction industry for probably most of my life. I was fortunate to be in a family businesses from two lumber many years ago. Learned a lot about building construction. Designing houses of the things that goes into house. And then courtroom. Another lumber company Upton Plattsburgh for a year and thinking back and we're didn't really builders and learned quite a bit about the housing market there's new builds and actually green building which is really really great to learn about the advances in. Products from the green side things geothermal solar. And healthy healthy living. So I take a lot of that history that I have built up over my career. And I love to kind of play into for a lack of internal and about property Brothers helped my my clients. Find aren't the right home and it may not be the ones they may not they may not see it when they walk announced that sometimes that can help find the value or. The great thing about home and they want into one that needs some work girl oh all taken down so. Like to be able to be flexible my clients and I'll see the the bigger picture and house and the same thing with a plan that selling off like to show on the features that they can present because. Not you know a lot of times people don't realize when they're selling their house they're not selling their house somebody's buying their new house and you really got to come to tune so they understand that. You know it's it's somebody else is new homes it's looking and so I like to bring that that site and my history too my my past experience to my clients. I think that this morning in my own house like. I thought it home almost two years ago I think and out like I got pretty granular people about it from the got their greeted it barely lived there but. I was like well this is like wins on losing to a new home is there. New home even as on previous and they're twenty years is to them it's old. It's still new and it's exciting for the next people next owners in the next chapter in life. I'm. Maybe. Move move on your mind in mind and mood and well but toward. I feel. It was great and and you know we're still in the house we love them until personalizing it. Twelve years later. I figured that the constant. As an evolution in your home. In relation overtures are yeah I am I own a Condo have been getting right to sell mines sown now actually doing that finishing touches him. Moved in its downlink you know. There really get ready to do those things until inmates son and thought now we. About it pretty low and for the market kinda hit so hope intend. Can mean progressed and makes ammonium the new hot market in Asia and now I'm ringling is sorry I ask you go over there yes so it's an awesome -- the violence welfare but yeah my dad actually helped me he did. I. The renovations we there's like and nothing went unturned and so it was from the project that we did together by. Very time consuming. Not take us back a little bit tick is back in time picture a little bit about you know. How you got started and are you from buffalo did you move here and shares a little bit about from the personal side of. Faster so I also started answer to train torture back and it was real USA. Vaknin and now heart and a and it does after a few years. At least as I was like 23 so. They knew nothing about the world let alone real estate. You know you learn pretty quickly and that's great interest on the way. Comes over there for a few years. Just an beginning the scene real estate I was really really passionate about it but. Just kind of one to learn more about the process as a whole so I make that job and and and T bank of all places. And working in the processing department. So I worked in the back and mortgages and answer answered translations at that time to you know relate it to see what happens behind the market stars out. It was really I am certainly not as interesting as we can't house's everyday you know NF files and appraisals by. It just kind of brought me to a different level of the process that not a lot of realtors get to see. So I end up kind of filling issues there full time and thought of that that the contractor were that I was doing there. And attic after a certain point where I had to choose between my real estate license and to institute to rate mortgages so. I went chosen markets path and it was really hard really really hard for me given license actually helped her a little longer trying to do both by. That's really difficult to do. So I've chosen mortgage path and apparently really that commitment to be here really passion about the industry and I think it's cool that. I have kind of a holistic view of of the whole process because remember showing people homes and eating them setup and searches and an exciting part it is. And then by the time they get to oppress their mortgage there. Ready for the process to be over and oh yeah and it's a pretty especially in today's market where there's multiple offers and people are getting out dead and some names putting seventy offers and the flight he needs of people just like please make this and we just couldn't back out. Half and noticed that a lot and just people I've talked to over the past few years isn't the market's gotten really hot. A lot of people I didn't outbid one very quickly and it's that it's like cash offers coming out is harder for some of the younger. Younger people that are trying to buy their first home yeah yeah very difficult cash offer. Lot of cast choppers also. Lot of things to be aggressive in the market people are actually going in and sensing they don't wanna do an inspection which I never wrestling match I at this hour and a man but. You know. You got to be aggressive in this market in many cases so it's going to be a matter of looking at the money the offer. The financing morsels into big things then how do you differentiate yourself from. From the other the other buyers out there. Infield premier sampling team that trades are more questions for you when you're working with your clients you're. You're helping them kind of navigate the realty market and find that the perfect home for them. He added you as a pioneer and to duplicate this on common up for this one just came on the market you might feel like let's reflect. Yeah Foley had definitely I mean. I try to be a little cautious because he did. I look at it from my standpoint from my own personal Simmons a Catholic to save your money but the bottom line is the new house or they want my house and they wanna get a house and you're gonna get now house. If you're looking at a matter of a few thousand dollars over the course of thirty year mortgage you really have to break that down to some great mortgage rates to. But yeah you you've got to figure out how to be aggressive you got to figure out that the most important thing on the little show here for a leisure and is to say that the first thing you really need to do was find out where your comfort level as what you can afford where you can how where your financing is because that's really gonna lie you have. A level of comfort when you get out into the market you have to have your paperwork your finances on that in mind when you're ready to start to buy and look because. You're just not in you just not gonna catch the deals us. Yeah you wouldn't believe how many people come to mean with a contract and that government and the four pulled their credit or know anything about them and then like folly just bought a house that you wanna make sure you can afford that house for casinos so. And that's just people not knowing you know how to navigate the process but that's certainly what we would start off with first is getting preapproved which would Intel getting all those. Big tax returns ready with that you've probably stowed away since last and you found taxes so. You know locating your W two news tax returns if you're self employed at home either. Route to and then of course pulling your credit or whoever's going to be on the mortgage just to see. Make sure that your your scores acceptable and listening big that we as your debt to income ratio so. With these multiple offers you start off with may be approved an approval of 200000 and then. Once you do get out in the market realized so we mean we need to bump up and effectively why you know 2.2 thirty so you wanna be constantly involved with your mortgage originators McEachern Matt. You communicating an average house EC mostly just to make sure dancing around affordability so now wasting your time time time Trace that. Yeah I mean I'll. I'll take clients of 45 houses a day girls he multiple clients in the day and for me and I don't mind because I'm getting awareness of what's out there in the right place but for my clients to. Kicking it tedious you just drive around looking at houses so I always wanna make sure that they're pre approved nor were there at. And yes things change. As far as how long they've been in in business if there if they're self employed. Dead. Ratios and all the things that police has been saying. But. Dell simply getting Arctic gets so involved and and and I try and I trying to everybody a little bit of the lay of the land before and is as you know most. I mean all the good realtors do so don't try and help all by the client and and give them some indications of whether that are you know where they should be looking Ty had their realistic talked you have to have that kind of. So if you're listening today what are you start you start with the real estate agent or do you go to your bank first. Worst anyone who's listening is contemplating okay we're doing start I want to purchase a house in let's say it's their first time. Okay what's the answer to that question. There's no bad places either one of us navy ad business professional yes. If I think if he can start off with trays and then handed over to me insanity to pre approved first you know may be an idea of what you're looking for and then you know. A nicer cities are with me and say okay let's get to pre approved and then to see that China you know homes or really even available in that range if it's feasible for you to be outs are cheering now. Yeah I think eight. It comes at a lot of things are some there's a lot of great people on both of our industries. You've got to establish relationships and trust with those people like any other. Business relationship because you are stepping into buying your largest investment yeah dispersal on this. Electric and I. I buy this is the ovary years ago and it is. I hated the mortgage process. I can't get the that might eat at a second timer out about my second commando but it. I had a better relationship with my mortgage. And mortgage and I. The second is much more. Just smooth and fluid out in the now and when I needed where it the last time there was no communication is at school you didn't hear homer the first. I don't know how to stop it. As a communications site a deep thinking it that he said he you have a relationship and partnership with. You got to eat an injured in my office. Yeah I agree a lot of the referrals I get our personal referrals so we know that whether it's a realtor friend of mine's cousins are frank you know. Obviously we. Hold all of our customers in the highest regard by actors knowing that you know there's personal connection always takes it one step deeper and knowing that Iraqi when you know friends of friends is definitely comforting by. I tried to you know without clients. Get to know them on a personal level you know get to kind of be. Back in real time role of woody woody I look at you know you get me excited about actually how bad. You know the market is important by the you know what would people behind behind yeah that's awesome. Absolutely I mean I'll spend hours. Days with clients I get to know them the family. And create a good relationship with with all my clients. It's it becomes very personal and and that from from my perspective is. I I depend how am heavily on referrals threatening them. We're gonna get ready to take our first break but before we do that are right to ask can arm. Trail start with you know actually show elect to start with the okay can you speak of a recent success that you've had Iowa when he your clients. Sherry yeah misses a anecdotal but I guess probably a major success story was summoned to closing with. Five dollars and ten cents and ranked closings. While and if you knowing that process a down payment closing this is verse your taxes and insurance. Canada they're disclosing disclosure in egging me and you know estimated it was going to be two or 3000 dollars. Of course they got some grants and you know we're in the right income cap and right area. Yeah she is related that's an easy I dive into. That is just says. Yes he's a scary. When you're listening to Western New York or work would del Martin and Laura Lewis today is everything real estate. Butler don't go anywhere we have more great conversation on the other side are desperate. 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Courts download their new curve bath can get a fifteen dollar credit with the promo code liberty. Right local with liberty cap Buffalo's largest and most trusted taxi company. Yeah. Welcome back to the question your work when Umar me and that was to me is everything will stay and don't have a couple homers and holds we'll. Movie titles calls. Carl are you there what's your comment or question. Oh yes. Yes thank you Carla western new York at work what's your question or comment. Of course. 11. About the older. Person that owns a home actually a person about seven years ago. And actually he and some major repair on how. Like site which may cause for twenty or thirty don't know. A lot of cases. A lot of older people don't wanna put money into how. Are they actually if there and then declining. All what do you do situated edgy goaded him you know I think the house and hopefully you can sell it for more. Okay and you don't pick and so. I'm not actually selling more or get the chance of being upside down that. Oh yeah around. I'll bet situation and what is the best angle to take something like a morning help you achieve answer. They can call him well. Thank you for that. We heard dale and I think initials there are just a break how to prepare house to sell great question. There's a few things out there if you are thinking down the road and there are some here's repairs you want to look into. And a leash you'll address a censure wrongly to. You can look at if you have existing. Value in the house that you can borrow against home equity loan against and perhaps do some repairs to the house that's kind of going to be more on the extreme side of things. But and and that's understanding that. Egg as you said colorful opulent you don't have to be older or a certain age group or anything else a lot of people may not have the cash in order to reduce repairs on the farm house as the fields. To bring it up I will say that the best thing that you can do to a house to prepare for sale is going to be clean it and the clutter. You know make the front of it attractive looking and pull weeds Malone make sure those things done a code of patriotism of that's adds thousands and mailing got a couple under box fresh I end up yeah brushing up is just a huge aspect but as far as that there are so differently it's look at. How to do it and realtors should have some. I am relationship with contractors and other people too that can help out and get quotes trying to make sure that you have an understanding of the hostages on the repairs or to get up. Oftentimes in the right market here you also may find that people will still come out with a good earnings. On their house without having to do major repairs and I always advise my clients. You know put in a repaired and caused more than what you think you know. Let me just say are today because we lost a caller so call if you hear you still. Another concept in Oklahoma. Scioscia actually wanted me to ask a question all I heard she received a settlement and wanted to pay cash and wanted to know if there any requirements for that pitches to go through. That's probably more mortgage thing because she is to be considered entering if she summons on no cash and how. Your yeah. Well in news small mortgage nicer house because you advocate but I guess that's one thing too is part of the how much of a deposit to open on your policy going to buy another house. Are you using all of your funds that you earned by cash cash is certainly gonna give your best opportunity and finding out but. I have clients it. You know well accurate view the issue where they come and went gifts war. I have one client now that they have a house but it's been in the parents name and transferring title and what are the tax ramifications that go along with that those are all. Things you need to bring in the account perhaps as wealthy. Mortgage consultant and and realtors to work as a team. Yeah I think with Huntsman who is on cash is going to be the most competitive. In in this market. Of course are leaving here preys on us you choose to which we encourage and cast in context as well. That cash offer is going to be the most competitive what we do have some people do. He is when their and a fortunate situation like that to pay cash sin and it now for a little bit lower than asking that offers him more competitive all around. But then once on the Honda come over the next it to mortgage Kotnik cash out refinance. Button that they work for five start we have partly feed the most limitations as far as seasoning requirement along on. On the flight can do that so we have a lot of people doing that we who are just basically an event at the low interest rates so what I with industry Canada now. Com I'd say you rate you know we're still under five for under five really good idea to get I'm not sure how much longer it'll be like that but you know for this ladies and stints as she went component. You know doing cash out she's basically paying yourself back monthly ownership and mortgage paid by. She probably the home for you know a little bit lower than market with the cash offer. Practice get a lot of steps such as the appraisal process and the markets process not gathered by. For cash out refinance stone peaking manager of those you know low interest rates and basically just kind of paying yourself back for the cash to. And I'm assuming it in a note to buyers or you know to buyers are alike in so there probably are different programs out here to. Compliment or that are more you know I guess best fit. For absorbs into those claim has never had to at the same powers averaged out yet yeah we have. I mean believe it or not it's it's the silliest things I make a difference in your mortgage product that you choose as you do have a lot of different options a lot of people just think there's dimensional there's FHA by. There's a lot more to that such as how much earning. Believe it or not that the less you earn the more programs that you qualify for I know when I was purchasing my first time doing qualified for and everything under the sun. Yes as they can subpoena itself. That helps me to you know by doing it grants just. Lowering that amount to a closing and you know kind of making more more on my own fund successful Tiffany. So. There's a lot of programs based on income there's programs based and giving grants where that the home is just it's considered a low to moderate income area and believe it or not that's some of the hottest spots right now is sound those are always fun to do people buying. 200000 dollar homes in low to moderate income area yeah. Yet knowing knowing where your your buying and and you know what you're ranges in your personal income is is definitely help your mortgage rates near in the past product for. The other thing too with the with the cash. Some people. May want to buy a house that they wanted to do renovations to story vendor financing some of the renovations Morton and I out of cash for actually. Finance Allison does the renovations with cash I know there's also some other loans of love you that are buying these houses that need renovation as well. The solution has to. Yes yes their sounds and rehab loans out there icon. I think specifically does not from right now but they're certainly. Not as streamlined as they make it seem an HDTV in. Not so it's definitely in the 800000 dollar homes there like there's not enough for the 120 yeah 50000 dollar house. And adamantly that this program is not hopefully an actor in me I thought until I love black pilot of the American yeah yeah this aquatic life in Western New York past race specifically when you see an HDTV and the next you know speaking as they yeah. Whole different set of mortgage lending house which I think is like every five years after nine answers. But. Yeah yeah we have a pretty decent caring terms of for peaking yet. Before the break we talked about successes and you let that conversation trait can you speak to our. About our recent or previous success with what are your clients. I actually. Great one friend of mine. Has nine kids and that was the challenge finding out he was coming smaller home. We looked and lost several bids. Some great thousands of 2000 needed work again it was an indication the market. And it ended up that we found a fantastic. Double in. South of lowering grow up a McKinley. Great street out Internet tough guys who else is beautiful I'm not a union home she is granted all insulated new patio door and the thing was beautiful. We put in a what we felt was a very strong market it based on some of the times however when the appraiser. Went there there wasn't a how's the number one over a 160000. Dollars so. And we're well over 200 so boat with some work and putting some things together I was able to help get the appraisal way up. Awesome and I got on that as a penniless looking to it by next home. How can they contact you got to the people are real estate agent and mortgage office there. Well I go by trade book my actual handle is Edward McDermott at Edward dot McDermott at home real estate dot com or my cell is. 3167994. Here I am Ali shall Alberto it's Five Star Bank. Best way to reach me at 7168630770. That's a collar tax cuts easiest way chaos and there was never found her hands and yes. I don't care what buffalo you've been listening to Western European work everything will stay with dimmer and and Laura Lewis and today we've had mr. trade McDermott. Our real estate professional share with us his successes and how he helps his clients are just like to read a passage of some debate are. That you know I think he would like to know and from a tree McDermott standpoint my goal was to be there for you throughout the home buying and selling process. And to make it's and to make a certain. That peace process these. Are as easy and it stress free as possible I think that I can be ethical with solution Alberto. From a Five Star Bank as well you wanna help your clients when Emeka to stress free as possible we can't thank you both enough for being a part of the launch of everything from the state. Can't wait for the second shot and one last time provide your contact information. Edward dot McDermott at home real estate tax come and someone 63167994. Police delivered no. 716863077. Awesome thank you so much evidence in west Eric Eric thanks trading deletion and I hope all of dads out there and had a great out as an ambulance on with and enjoy it celebrate and enjoy today and Lauren thinks he's not. Well our apple while Obama's comments happy Father's Day to all the fathers out there and enjoy your day. Have a beautiful Sunday and we'll see you next week. Thank you for listening to Western New York it works sponsored in part by lieutenant deal PC log group complete council meeting your lifetime legal needs. Dale Martin. Liberty cab excess CME group here most trusted IT service provider and other successful business partners.