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In this weeks episode of the Idaho Real Estate Buzz we talked about everything from myths in mortgage lending to the upcoming Paint the Town event on June 11th.  With our regular partner Michelle Guth from Diversified Mortgage Group as well as Emily Pohlman from NeighborWorks we dive into some great information.  Don't miss the helpful hints section on flipping homes in the Boise area as well.   

Segment #1

Dave: This is the Idaho Real estate buzz, with Thom Dallman, I'm Dave Burnett. Another week of talking about real estate and what's happening in the Treasure Valley with Core Group Realty. CoreGroupRealty.com is the website to go to and 933-7777 is the phone number to call. Thom, welcome back to the show, lot's going on in the real estate world.

Thom: Yeah, thank you for having me, I really appreciate being on here and being able to chat and help people out. One of the things that is pretty prevalent right now is the low inventory, and the fact that there are fewer homes for our buyers, so buyers are having to compete and deal with other properties, other buyers, and multiple offers and so forth. I wanted to chat a little bit about just what we have coming up as far as coming soon homes and new listings. The importance of these is to really make sure that people are aware, especially with the coming soon properties, if you can get with the real estate advisor that can get access to those, you can get into these homes before they even hit the market.

Dave: You can get a head start.

Thom: And get a head start, yeah. Exactly. 

Dave: Well and that is good news, Core Group Realty, you do have homes that are up for sale, which by the way, just a little side note, if you're thinking about selling your home, give Thom a call today because they would love to get the listing. Just to have homes to sell. 

Thom: Yeah, we have lots of buyers who want homes, and who are having a difficult time.

Dave: So if you've thought about it, now's the time to jump on it and do it. And by the way I want to mention CoreGroupRealty.com, that is the website to look at. What do you have on CoreGroupRealty.com today?

Thom: So actually the first two properties that I want to talk about are coming soons, they are not on the market yet, but they're gonna be hitting the market pretty soon. 

Dave: So if you're on the web look for that little tab that says Coming Soon.

Thom: Correct.

Dave: Click that and you'll see these properties.

Thom: You should see these properties on there, if not let me know, haha and we'll get them on there. But yes, they should be on there. The first on is over in Caldwell, the address is 11656 Cambria Street in Caldwell, it's in the Delaware Park subdivision. It's a cute 3 bedroom, 2 bath, 1,100 square feet. It does have a 2 car garage on it, a single level, on a corner lot that is fully fenced. It does have RV parking in it, and walk in closets, really convenient house and the price is $129,000 which is a really good price.

Dave: Would this make a good investment property if somebody where wanting to look to buy to have a rental?

Thom: Yeah it would make a very good rental property for sure, especially at that lower price point of the $129,000. It's definitely good for an investor to look at this as rental potential income. 

Dave: Which by the way we will be talking to Michelle Guth coming up, she can help ya out when it comes to investment properties, investment loans, so, we'll talk to Michelle in the next segment. With RV parking, which is a nice. Owning an RV and not having parking at my house, man, that would be so sweet to have. 

Thom: Exactly, and I feel like there’s a bunch of these houses that I'm going to be talking about today that actually have RV parking, so, haha. 

Dave: Nice. Alright, so pay attention if you have an RV and you're tired of paying that rental fee of $60-$70 bucks a month which could be going to a house payment. 

Thom: Exactly, exactly. Well yeah, the next property is actually out in Parma. It's a nice rural area. It's 502 N. 5th street in Parma. This is a 1,074 square foot house, it's only a 2 bedroom, one bath, but it's listed at $78,000 or going to be listed at $78,000. 

Dave: Did you forget the 100 in front of that?

Thom: Nope that's what I said, $78,000.

Dave: Wow.

Thom: It's like I said, a 2 bedroom 1 bath, it does have 2 outbuildings and one of them actually has power to it so you have shop power. It's a single level on .21 of an acre with steal construction. Wood stove inside the house. It's got garden spaces and once again RV parking, lots of RV parking on it. And actually has some chickens apparently. Haha.

Dave: Well you're in Parma, you can do that. $78? Did you say $78,000?

Thom: $78,000 in Parma, yeah. For a 1,000 square foot, 2 bed, 1 bath. 

Dave: That's on the coming soon?

Thom: That's on the coming soon, yes. 

Dave: We need to warn people, that may not be there long. 

Thom: Yeah, that shouldn't last very long for sure. 

Dave: Yeah, there are some people that could put that on their credit card.

Thom: Exactly, haha. 

Dave: I mean, that's an incredible buy. I mean if nothing else just to have that property out there.

Thom: Exactly, for sure, yeah it's definitely worth checking out and seeing what you can get for it.

Dave: And again, you can get that on the Coming Soon tab at CoreGroupRealty.com.

Thom: Yep, exactly.

Dave: Up next?

Thom: Well next I wanted to actually talk about, we're really happy to have partnered up with a wonderful home builder. Home building obviously when the inventory is low, a lot of people start looking at home building because you know the prices are good right now, and the financing is there to do it. Takes a little bit longer to get into a new construction house, but we're lucky enough to have a home builder that we've partnered up with and have two brand new listings that we just did this week. And the builders name is Traditional Homes, they are a custom home builder. The great thing about this company is that they listen to the client’s needs before they build the house. So they build the house with the client’s needs in mind. They've been building since 1999 all over the treasure valley. They have two homes right now that we have just listed this week. The first one is at 14809 Beach Cherry drive in Nampa. It's in the Stevens Orchar subdivision. Custom build home, it’s a 4 bedroom, 4.5 bath. It's 4,342 square feet, so it's a big house. It's actually got a 5 car garage with an RV garage that's a pull through garage. 

Dave: 5 Cars?!

Thom: Yes.

Dave: I'd have to buy more cars!

Thom: Haha, right?! It's got an RV garage and a pull through shot, sorry I mis-spoke there for a second. It's got an RV garage, spectacular views, it's located in a nice spot in that Stevens Orchar subdivision where you have beautiful views. It's on 2.5 acres and it's close to Lake Lowell so you can go jump in the boat and go fishing if you'd like. It's a two story, but it does have granite, beautiful garden spaces, it's actually set up to allow for horses and corals on the property. It has a jetted tub in it, walk in closets, it's just really a spectacular house.

Dave: What is the square footage on this one again?

Thom: 4,342.

Dave: So this is really a nice home in the Nampa area.

Thom: The Nampa area.

Dave: So if you want to get a little bit away from the hubbub and massive Ada county then you got a chance to get out that direction and get a little acreage, get away from it all as it were.

Thom: Exactly.

Dave: What's the price again on that?

Thom: The price on that one is $589,900.

Dave: Okay, so if somebody wants to see that they can see that at CoreGroupRealty.com?

Thom: Correct.

Dave: Alright, next up?

Thom: Next they have actually a second house that we have a new listing on as well. Same builder, same wonderful process. This house is at 4708 Castleton Avenue in Nampa as well. Castleton Place subdivision. This one's also a 4 bedroom, 2.5 bath. It's 2,743 square feet with a 4 car garage. Also two story with a master on the main level. This one also has a huge RV parking garage, once again it's all about the RV today apparently.

Dave: I guess so, that's our third one I think. 

Thom: Exactly. This one has hardwood floors throughout, granite, walk in closets as well, and stainless steel Bosch appliances in the kitchen. This one is actually listed at $330,000 and once again just a great new custom built house, just brand new, not lived in.

Dave: It really has everything somebody might be looking for when it comes to some space, a little bit of room, you know that extra parking, and all the amenities... the granite countertops, sounds like a great home. CoreGroupRealty.com is the website where you can check that out and take a look for, tell me again the name of your builder that you've teamed up with?

Thom: That is the Traditional Homes is the name of their company. Custom homes built by Traditional Homes. Like I said, they've been building since 1999, building kind of all over the place. 

Dave: And as always if anyone wants information about this company they can call you here at Core Group.

Thom: Yeah, they can call here, actually they can call our listing agent specialist, Kristin Barton directly her phone number is 208-412-0908. If they want to do a custom build job she can help them out.

Dave: Or call 933-7777. It's funny because I had to get ahold of you earlier, I was out of town, I called, low and behold you picked up immediately when I called that number!

Thom: Haha, yes. 

Dave: It was kind of an odd time and you picked right up on that so, if you're looking to get a custom home, CoreGroupRealty.com is the website to go to. If you're looking to get into one of the Coming Soon homes, CoreGroupRealty.com again. And I think so much starts on the internet now when it comes to buying homes and looking around to see, ya know that way you don't have to have a sales person bother you. 

Thom: Correct, exactly, haha.

Dave: And let me get to this too, when it comes to Core Group Realty if you call the number 933-7777 you'll be helped by your team that said that they are not real estate agents but they are there to help guide you through what you really need.

Thom: Correct, yeah we have customer care specialists that are there to basically help people with whatever needs besides real estate stuff so, if you have problems with our website, if you have some other questions, they are there to help. It's a no pressure, no need to register necessarily, it's just them helping with whatever needs we have.

Dave: Yeah, and what I say about that is that everybody's in a different place. Some people are just kicking tires, kicking shrubs ya know, thinking about buying a home. Other people are ready to do the deal, so they can then take you and kind of guide you where you need to go so that way you're not being put with the wrong person in the company, because it truly is a team effort here at Core. 

Thom: Correct, it is.

Dave: So again that number 933-7777 is the phone number to call, if you want more information about what's coming soon or if you want information about existing homes or those custom built homes, which again we've talked about the shortage of homes, getting that custom built home might be the right answer for you and Core Group Realty is the group to call. Talking with Thom Dallman who is the co-owner and the designated broker. You're the one who's ticket's hanging on the place.

Thom: Exactly, if anybody has a problem, they just need to call me, haha. 

Dave: Haha, that's what you love is getting the problems.

Thom: Exactly.

Dave: Give Core Group Realty a call today or even better yet check it out on the web at CoreGroupRealty.com. Coming up we are going to be talking to Michelle Guth from Diversified Mortgage, equal housing lender to find out a little bit of what is out there. Gonna talk a little bit about credit and what's needed for credit. Maybe you don't have credit? Maybe you had credit problems in the past? Michelle will give us an update on what you need as we continue. This is the Idaho Real Estate buzz on 580 KIDO. 

Segment #2

Dave: This is the Idaho Radio Buzz, I'm Dave Burnett along with Thom Dallman of course with CORE Group Realty. Thom is the designated Broker and Co-Owner of CORE Group Realty. Thom, Michelle Guth joins us each and every week and we get talk a little bit about finance and this week is no different.

Thom: I thought I would talk a little bit about some misinformation out there. Right now there is a lot of buzz going around with people, I actually just recently watched a webinar that said there's a national perception that it's harder now than it's been to get a loan, so I thought we could talk a little bit about that process and kind of that myth if you will.  Michelle, just tell me, do people feel like the changes in lending lately have been making it harder to get a new loan? Is that true? Do you feel it's true?

Michelle: Actually I think it's a great topic and very timely. We've talked about in previous segments about that introduction of TRID which is some new waiting period that were introduced on the national basis for lending standards. As a result, I don't know that getting a mortgage is harder, but I would say it's probably a little more labor intensive with respect to the lenders and to the borrowers.  We definitely need, you know, a full package.  We need to verify all income, assets, and so forth. And there's also as I mentioned some added waiting periods. So just some added steps that we maybe didn't see 10 years ago, but as far as being hard to get a home loan I don't know that I would necessarily agree with that. We have some incredible programs with as little as zero down and there's that misconception out there still that you need 20% for a home loan and that is certainly not the case.

Dave: You know we've talked about in the past the fact that this is actually good for your industry for the home loan/lending industry as opposed to 10 years ago, is that correct?

Michelle: Oh I agree completely, and that's the whole reason why we have the mortgage debacle and the housing bubble was because mortgages were so easy to get. There were very few criterias required to get a loan. Whereas now, I mean we are going to look at your assets, we're going to look at your debt to income ratio and it's a much better process in regards to making sure we're not putting the borrower into a property that they cannot afford. We want to make sure that we are setting them up for a great financial future with respect to their home purchase

Thom: Exactly. And one of the things that I really like about Diversified Mortgage too is that people can qualify for loans for more than what they really are comfortable with and they are really good about making sure that people are comfortable with their house payments and along with their expenses and stuff and I really think that's one of the fine points of Diversified Mortgage.

Dave: Making sure they aren't biting off more than they can chew?

Michelle: Absolutely. Especially with my first time home buyers that's the first topic is, you know, what is your budget? What would you feel comfortable with with respect to a monthly payment not necessarily what they can qualify for, so we want to again set them up for a budget that is gonna allow them to be successful.

Thom: Some of the comments that I've been hearing actually from people and agents and what not. Is there is a perception out there that you need a 780 FICO score or higher to get to even qualify for a loan, is that true?

Michelle: No.  So there are definitely credit score requirements, and different parameters for different programs. However, for our organization for example we can do most of our home loan products with a 620 credit score or greater, but again that's not cart blanche across the board, there's different criteria but no you definitely don't need a 720 credit score.  I will say a higher credit score is certainly going to help with respect to interest rates when looking at conventional financing, along with things like private mortgage insurance, those two things are heavily weighted on credit score, but when we're looking at some of the government programs, some of our housing agency programs, they give a lot of latitude with respect to credit score with interest rates so we can get incredibly rates, incredible programs with a 620 credit score. 

Dave: Michelle, what is the credit score breakdown for being excellent to good, to fair, to poor? What would that break down be?

Michelle: Well, for interest rates whenever we see anything from a 740-850 we put that in the highest tier category it's pretty much in the same bucket.  But for lending, I mean, I'm thrilled when we have a 680 and above.  For 680 we're still getting incredible terms and then again even under 680 depending upon the program still great terms, but higher credit scores by all means where it may not impact interest rate necessarily but it could help with respect to obtaining electronic loan approval.  So there are definitely some advantages to having that higher credit score

Dave: When do you start getting in trouble with credit score? At what level?

Michelle: I wouldn't necessarily say a specific level, but it depends on what type of incidents are happening on credit which is what could in turn cause an issue for them too, how difficult it would be getting a mortgage

Dave: Ok so it's not necessarily what that score is but what caused it to be there

Michelle: In some cases, correct. How recent were those derogatories were they older items? I Mean there are several variables that is going to impact a mortgage algorithm when we're determining lending standards.

Thom: Exactly. And then again just to taut Michelle just because I think they do a really amazing job they are really good at helping people who don't quite qualify yet and helping them get into the credit repair process to make sure that they can get to a point where they qualify, is that true?

Michelle: Absolutely we'll give you the tools in place so once again I talked about that road map to home ownership so we give them the tools to get there.

Thom: Guidance all the way through. Are there any basic guidelines people should think about before they even come talk to you what they should kind of prepare themselves for, what they need to bring to you that you could share?

Michelle: Oh absolutely. Even preparing for credit I would say if you have credit cards that have higher balances in regards to the limits on the cards, if you can get those balances paid down to at least 30% of the available limit about 60 days prior days prior to planning on having your credit pulled, that generally will see a score boost with respect to credit. So if you can pay down those credit cards under 30% that's certainly going to help your cause when you meet with your mortgage adviser.

Thom: OK so 30% on the credit side

Michelle: Maximum ideally at any given time.

Thom: Exactly. How about like paperwork that people kind of need to think about. I know that one of the comments that I had recently is how long if I got a new job do I have to wait to be able to apply for a house?

Michelle: Several variables with that as well. If somebody switched jobs recently there's not necessarily a waiting period we normally want to see that they've been on the job and have 30 days worth of pay stubs prior to closing, but if they have had a significant lapse in employment, say they've been out of work for a year and they're just now re-entering the job market there could be a 6 month waiting period where we'd have to go back and make sure that we have employment history prior to that gap. So, again, several variables but switching jobs is not necessarily going to impact your ability to get mortgage by any means. So, again, if you have specific questions, just give your loan adviser a call and they can give you the direction that you need.

Dave: Speaking of loan advisers, Michelle, what is your phone number there at Diversified Mortgage?

Michelle: 208-853-7878 or you can go onto our website which is DMGloans.com

Dave: And if we didn't mention at the start, you are an equal housing lender as well which is one of the things that we need to point out to people that you don't discriminate.

Michelle: Absolutely not. Well, I think we talked before about the partnership that we have so one of the things that I love about our relationship is the camaraderie that we have between your agents and my loan officers, so we try to make ourselves available 24/7 as do the real estate agents, we recognize we're in such a competitive market that we want to make sure that our clients and our agents have access to credit approval letters, answers with respect to payments and so forth, so I think this many years of our relationship that we built there is such an equal respect that we want to make sure that we're doing everything we can to make each other's job as successful as possible to bring the best level of service that we can to our clients

Dave: One of the things I know in the past that I had to do was I had a mark on my credit and I had to write out a letter explaining why that mark was on the credit does that still happen today? I mean the reason I'm wondering is in the electronic age, this is back in the old days, plunking out on a type writer as to why I had a JCPenny ding that they just needed a letter explaining what it was, does that still happen today?

Michelle: In some cases we'll ask for an explanation but everything has become so automated that when we underwrite a file initially we're doing what is called an electronic underwrite and that is under DU which is under Fanny Mae, and you know, that is the government sponsored entity that we usually get all of our conventional mortgages from, that or Freddy Mac, they will come back with specific criteria in that electronic finding and determine what do we need to have with respect to that. Also, our underwriter also has the ability just, you know, to make the file feel a little bit better they would want further explanation just to ensure that hopefully that occurrence isn't going to take place in the future. So again it is case-by-case basis nothing is black and white in the lending industry by any stretch

Dave: I guess it shows how long it's been since I applied for a home mortgage.

Michelle:  Well I mentioned at the end of the process now we take your blood samples so its probably a little different than what you experienced in the past!

Thom: And kind of going off that a little bit too, when these changes happen, Michelle is really good about coming into our office meetings here and making sure that that information is communicated to the agents and so forth so the agents are armed with that when they go out and meet with first time home buyers and so forth they can actually explain a little bit of the process so without getting themselves into too much trouble but at least getting them a little bit of guidelines to help them before they go to chat with Michelle.

Dave: Speaking of first time home buyers, there are some good programs for first time home buyers isn't there?

Michelle: Amazing. Idaho is so fortunate to have one of the best housing agencies in the nation in my opinion. We have some programs again with zero down and you don't even necessarily have to be a first time home buyer to get those programs, so the fallacy of 20% down: definitely a fallacy, so give us a call

Dave: The reason why we saw TV ads running for the group about getting into a home and buying a home and really targeting towards young people of trying to buy a home so they're out there aggressively wanting peopleto get loans

Michelle: Absolutely. The nice things about these housing agencies with the zero percent down financing if you looked at their stats with regards to default rates even the zero down program they have a very low default rate in comparison to several other programs out there so they have again those safeguards in place and those parameters that again we're setting the borrowers up to be successful in their home ownership.

Thom: And I think that's another myth that's kinda floating out there is that young people feel like "Oh no we've gotta get past our 30's before we can actually buy a house" but I think that trend w're starting to see a little bit more of those late 20 age groups kind of starting to realize "Hey, we can get a home! We have good jobs, we have successful lives" and stuff like that. Actually there's a little bit of a trend actually to single women in that age group buying homes and realizing they can buy a home on their own so that's really phenomenal, I think, shift that is kind of starting to happen.

Dave: We talked about credit scores, but how much credit do you have to have? I mean there are some people they have very low credit, how much credit do you have to have?

Michelle: You know I'm actually glad that you brought that up. That is one of the other fallacies out there, I paid cash for everything, I don't have credit but I pay cash and have no debts do therefore I should qualify. Unfortunately while I applaud anybody who does that but when they're going to apply for financing it's not going to help their cause. There isn't a set rule on how many credit trade lines they have to have, in most cases we ideally want to see 3 trade lines on your credit report but we can get an approval with as little as 1, and then get alternative credit in some case, but again, several variables.  How long have they had that one specific trade line is it new or is it 5 years old?  So there's different waiting factors to determine how much we need on that credit report but that's all the more reason I would recommend talking to your loan adviser and finding out what you need to do in the event you don't have enough credit we'll give them the tools to get ready in 5 months, 6 months whenever that time may be.

Dave: Well if you'd like to talk to Michelle, you can give her a call again your number is?

Michelle: 853-7878.

Dave: Or you can give Thom a call here 933-7777, that's CORE Group Realty and he'll get you in touch with Michelle, and now if you get on the path if you're young and never had credit before or maybe you just don't havebig credit history, Michelle can answer all of those questions for you. First time home buyers, Veterans; they've got the programs for you, there's no excuse not to buy a home. CORE Group Realty and the Idaho Real Estate Buzz, that is the program, we'll continue on the other side. Here on 580 KIDO. 

Segment #3

Dave: This is the Idaho Real Estate Buzz, I am Dave Burnet along with Thom Dallman of Core Group Realty the designated broker and co-owner of Core Group Realty. Something I did not know about you, and that is you were involved in flipping properties early on in your career.

Thom: Yeah, i spent a couple of years doing that. 

Dave: You know, any Saturday actually any day of the week, but I know Saturdays and Sundays, there's a lot of TV channels full of Flip or Flop, or you know the Property Brothers, you got these...

Thom: Exactly.

Dave: Which, they all, you know it’s funny, a lot of them have I think Flip or Flop is one of the, he and his wife always come in and there never going to make any money, but they wind up making a bunch of money. 

Thom: They always make money, yeah. Well, not always, I shouldn't say that, let me take that back real quick.

Dave: Most of the time.

Thom: Exactly.

Dave: They manage to salvage it. Now, realize that is a TV show.

Thom: Exactly.

Dave: Tell me a little bit about the realities of flipping properties because it is something you can do. 

Thom: Yeah

Dave: but tell me a little bit about it.

Thom: Yeah, you really, um just starting out from the very basics of when you are looking at properties to invest in, it’s got to be a property is at the right price point, you got to do your evaluation on what its gonna take to get it to that next level of price point. Um, how much your gonna invest in it and really do your numbers, a lot of people just jump into it thinking, well this house is cheap, I'm just gonna go ahead and buy it and throw a bunch of money into it and I'll get some money back and it just doesn't quite work. You have to do the math. 

Dave: You say running numbers, what it included that?

Thom: Oh my gosh, running numbers included looking at the neighborhood, looking at what houses are selling for, what the houses in the neighborhoods have as far as amenities, because you don't want to over beautify the house, you don't go with so many amenities that it puts it above everything else in the neighborhood. Um, and really kind of makes it, uh, um, too much for that neighborhood, so, because the, you know, once again you have to be comparable to what, what’s around it, more around the house. You have to the math on, you know, do you do granite counter tops? How much does it cost to put granite counter tops in? Is it gonna be a good return on your investment? Does it take to that next level where you can get enough value on the house in that neighborhood and so forth? 

Dave: is part of it to factor in... Okay, I can do the painting, so I'm...

Thom: Sweat Equity!

Dave: So I'm not going to have to hire out, sweat equity you put into it. I assume that's a big part of it too. 

Thom: That's a big part of it, you have to um, it’s really good to be able to do some of that sweat equity, to do things that you know how to do and can do. Um, I think a lot of times people jump into it thinking; oh, I'll just do everything and it’ll be, you know, I save all this money on contractors, but when it comes down to doing things that uh, really... like plumbing and electricity are the two big main things. You really need to make sure that your contracting that out and getting someone certified to do those, those parts. 

Dave: Not only the legality, but just the time factor.

Thom: Time factor yes.

Dave: I could probably do plumbing 

Thom: Exactly

Dave: ...and get it done, but it would take me five times as long and eight times as many trips to Home Depot

Thom: (laughing) to get it right!

Dave: to get the thing done right. So that, and again with flipping house time is money, you still have to pay mortgages and things on this, don't you?

Thom: If you get a hard buddy loan for the property, you know depending on what your finances for getting the property, you're paying your utilities for it while you're, you know, maintaining it, and fixing it up, so yeah, the longer that time frame is the more money you're putting into it and investing into, um you know, the property taxes, and all that stuff kinda starts to add up over time. So, that another, that's one of the things that a lot of people don't think about, they see the TV shows and the TV shows make it look like it’s all done in you know...

Dave: 30 minutes!

Thom: 30 minutes (laughs). But it’s not, a lot of the misconceptions are at time frame and you really have to make sure that you plan that timeline out of ... and make it, make sure that you meet that timeline.

Dave: This is kind of a sidebar to this, but, Core Group Realty, if I were interested in flipping a home.

Thom: Uh huh?

Dave: Can I come in the doors here and say; Thom, do you have any homes that would be good for flipping?

Thom: We can definitely help you with that! We can definitely look around in the market place and see what’s available and give really good pointers towards um, what houses are currently listed at, what it would kinda take, that general idea, of what it would take to get it fixed up and then uh, you know, how much once you get that fixed up, what it would be worth.

Dave: How much is cosmetic and how much is structural? Which I guess is another thing that has to be determined. 

Thom: Yes, Exactly. Yeah, huge part of the process to determine the, you know,  are you just going in and doing the cosmetics to make it beautiful or are you going to go in and do some structural stuff to make it more functional? Um, functionality is, you know, one of those things that can increase a lot of value of a house, um, but you have to determine how much that functionality is gonna cost you. You know, ripping out one wall, may not cost a lot, but if that wall is a structural wall, or a support wall for the building then it’s going to cost you a lot more. 

Dave: And that's where it’s going to take someone who knows. It’s easy for me to come in and go; you know Thom here in your office that wall is really not that big of deal. Well, yeah it is, that wall is holding the roof up. 

Thom: Supporting the roof. (Laughs) exactly!

Dave: So if you don't know, you could get yourself in trouble in a real big hurry if you just decide to start swinging a sledge hammer.

Thom: Exactly, Exactly. 

Dave: Is it, are there, are there contractors out there that kinda specialize in helping people do this? Or is it something that, I mean, how do you find someone to come to you and find a good contractor?

Thom: Yeah, yeah we do have a, we do have several suggestions of contractors that do help, they are general contractors so they will help you along the way, they'll help you, you know, with whatever part you need and can give you good advice, good connections to you know professionals in a certified professionals in whatever specific field that you may need, like the electricians, like the roofers, and stuff like that. They usually have those connections, so yeah, you definitely want to make sure that you are getting with the general contractor, if your gonna do really big projects. Um, and really big flips. 

Dave: Yeah, one of the things on the home flipper shows that always amazes me is how, like if there's like, I don't remember who they are, but there's a husband and a wife, and she is always doing all these projects that he doesn't know about, allegedly...

Thom: (laughs) exactly.

Dave: That he doesn't know about, then he's mad.... but they always seem to make it in the end. Let me ask you this; have you had for yourself, you know just for full disclosure, have you had any disasters in home flipping? 

Thom: Um, i would say the only real disaster that I had, um, was more my fault, because I, and once again, this is going along the lines of sweat equity and doing what you are capable of, not what you think you are capable of, because I thought I could tile, i thought I, you know, I can cut tile and lay tile. Um, but come to find out, I am not a very good tile person, so ... (laughs). I did a project where I had to have a project where I had a professional come in, and kinda fix my work. 

Dave: Fix it? That's funny, because that is actually something that I have done in the past, is set tile.

Thom: Oh really? Oh ok, great. 

Dave: That makes me laugh because I didn't think it was that hard.

Thom: I know! You would think... somehow I messed it up?

Dave: It’s like wallpapering. 

Thom: Yeah.

Dave: If you know the tricks it's not hard, but if you don't know the tricks it's a nightmare. 

Thom: Yeah, it is. It is! I've never hung wallpaper, but I have heard stories of just the wallpaper kind of being slightly off line, so by the time you get to the end it's all crooked and it doesn't line up with the wall. 

Dave: Yep, then suddenly, oh that doesn't look right at all. 

Thom: Exactly. 

Dave: Let me ask you this question real quick about flipping; what do you consider cosmetics? If someone says it’s really basically cosmetics to fix this up. What is cosmetics?

Thom: The cosmetics are just if you’re going to go in and do, you know, a paint job, if you are just going to paint the walls and bring em up to more modern colors. You know, right now the gray is like the really in color right now, so a lot of homes are being remodeled and painted those different shades of grays and taupes. Um, so like a paint job would be a cosmetic. Um, flooring is really considered cosmetic, it’s not, you now unless you are going hardwoods and doing stuff like that. But that's really a cosmetic thing to do as well. Um, landscaping, landscape is one of those things where people just go in and think that's it’s all about the interior of the house and the exterior of the house, but they don't think about the landscaping and going in and doing the cosmetics on that. And then some people think, oh, let’s just go in and completely create a park, (laughs) around the house, which then over, you know, over does it for the house. 

Dave: Well, let me ask you this, and perhaps a good point. In landscaping, is less, more?

Thom: Um,

Dave: do you think in general?

Thom: yeah, I think, that's my opinion. Less is more. You just want to go in and make it beautiful and you want to make it simple. You want to leave some ability for the new home owner to go in and do some of their own personal touches to it. Landscaping is one of those things where a lot of people like to actually spend time out in their yard and create that stuff. So you don't want to way overboard and create this huge, like I said, a park setting to where people aren't able to really do that, uh, on their own. 

Dave: I want to come back to one point that you made at the beginning of this segment, and that is to make sure that the home is comparable to the other houses 

Thom: yes. 

Dave: How often do you see that maybe somebody has gone in and they've made what should have been 150,000 dollar home, a 250,000 dollar home? Nice home

Thom: Prices it out of the neighborhood. 

Dave: But is that what happens? 

Thom: Yes. 

Dave: Is that the people who can afford it, I don't really them as my neighbors, so it's hard to sell. 

Thom: Yeah, yeah well it’s hard to sell not only just that kind of concept of like, I don't want those type of neighbors, that's not typically what it is. What it comes down to is being able compare it, being able to get a loan on the house, because you can’t...

Dave: Oh, okay. 

Thom: You can't get a loan on a house that's valued more than what its comparable neighbors are. So um, you know, that's really the biggest issue, is being able to get the financing, when you kind of over price a house like that. 

Dave: Well if someone wants more information about flipping homes or perhaps you have some listings available for homes that would be great homes to flip. How do they get a hold of you? 

Thom: Yeah! Just give us a phone call at 933-7777 and we can get you with one of our buyers agents and get you, you know, set up so that we can get some of those listings and start looking for those for you. Um, you can go to our website; the CoreGrouprealty.com and go do the home search there and start doing some of your own searching online if you want to start kind of, if you kind of know a little bit about it and want to look at homes, that's the direct feed from our MLS. So you can do that online as well. 

Dave: And I do want to remind people again, if you are in the process of thinking about selling your home, give Thom a call at Core Group Realty. There is a shortage of homes for sale right now. 

Thom: Yeah. 

Dave: Just the way market has fluctuated. And so, you are really looking for the people who want to sell a home. Maybe you want to move up, maybe you want to move to rental, maybe, you now, do something different or even downsize. You’re looking for homes and now is a great time to sell that home. 

Thom: Exactly, yes it is. 

Dave: Core Group Realty is the web... Core Group Realty dot com is the website, the name of the Company; Core Group Realty. We do the show right here in the studios, uh right on Emerald. Uh, what is your address? It’s just right up from the mall. 

Thom: It's 8665 W. Emerald St. Suite 140, Boise. 

Dave: Come on in, very comfortable, very relaxed, it is not high pressured. 

Thom: nope. 

Dave: In fact, when somebody comes in to talk to you about listing a home, it’s not even, let’s get in and go look at your house, you'd rather talk to them and see what their needs are. 

Thom: Exactly, yeah, we really prefer to actually sit down and have a consultation with our buyers and our home sellers actually, just to make sure that everybody is fully aware of what everybody's need are and wants. Um, as well as kind of set up some exceptions, you know, what are the client's expectations? What are the client's expectations of us? How often do they want to be contacted? How they like to be contacted. Right now, a lot of people like to be contacted by text. They just want the information sent to them via text. So, it's really a good point to kind of set those expectations. What house parameters are that they are looking for? Meet their family's needs. If they have families, if they don't, what's their personal needs for the house? Do they like to entertain?

Dave: And you can do all of that at CoreGroupRealty.com. We'll be back again next Saturday again to talk a little bit more about Real Estate. Giving you knowledge to empower you to buy or sell your home. And, Thom, thank you so much for joining us here at 580 KIBO. This is the Idaho Real Estate Buzz. 

Segment #4

Dave: This is the Idaho Real Estate buz. I am Dave Burnet along with Thom Dallman who is the designated broker and owner of Core Group Realty.  933-7777 Phone number to call Core Group Realty. www.coregrouprealty.com is the website. Emily Pohlman is here. I got a chance to meet her during the break earlier. Emily is with neighborhood works. My question is what is neighborhood works? 

Emily: Yes that is a question we get a lot!

Dave: So what is Neighborhood Works?

Emily: We are a housing non-profit in town. We have done rake the Boise and paint the town for about 34 years.

Dave: Those names i recognize. So paint the town and rake up Boise. which paint the town is not to far off!

Emily: We are one week away from our kickoff event, where teams will come pick up their paint and supplies, and then will have till June 11to finish their home.

Dave:Nice! tell me a little bit, i know you have been there several years but tell me about the start and who it is directed towards?

Emily: Ya ! Paint the town started in 1982 as a community revitalization effort. we help senior citizens,people over 65 &  disabled persons in your neighborhood. who need help painting their homes and cant afford it themselves. So we do ask for some income qualifiers.We go out and do personal interviews with each home owner.So teamsknow what to expect and we can get a little more of a personal connection.

Thom: Exactly! it is really great to the home owners are really thankful when you go to these projects. We have done it for a couple years now. and they are so thankful for having the help and the assistance in getting their homes revitalized.Basically is what it is in revitalization of the neighborhoods. It is really great !

Dave: Let me do this Thom, sometimes you don't want to do this" Toot your own Horn",but let me say this about Core Group Realty believes enough  in paint the town program that they have made a financial   investments into , and I hope i am not going out of bounds...

Thom: Thanks.

Dave: sometimes you don't want to mention yourself, but I will mention that Core Group realty not only volunteers and `puts a team together, but they are putting some money in. I some one wants to donate some money , How do they do that?

Emily: You can go to paintthetownboise.org , and donate online or come down to our office in person we are off Americana blvd. When people donate this year as well they are entered into a drawing to win 2 round trip tickets on Alaska airlines, a BBQ grill, or a apple watch!

Dave: Nice!

Emily: there is a little intensive this year.

Thom: OH I want that Apple Watch!

Dave: And to help out a great cause,if i can say this and i know Core Group has scratched a check for $1,000.00.

Thom: We are writing the check for $1,000.00 today!

Dave: That will buy a lot of paint and a lot of brushes! More is needed to be done so be sure to give Emily and her crew a call for paint the town.

Thom: I was curious Emily, how many homes on average is being painted each year. 

Emily: On average we are doing about 50 homes each year. that is where we are at this year. we could always do more! We get about 100 applications. So there are plenty of people in need!

Thom: And how many volunteers does that usually take to coordinate50homes? 

Emily: Our requirement for teams is that they have at least 10 people, but i mean there is a lot of businesses that go above and beyond. So there are teams with 30 to40 people!  We get about 1500 volunteers. Last year we had 1749. 

Thom: That is a lot of people!

Dave: So..ok ! say someone wants to volunteer for the first time this year. What can I expect? What time do i have to be there? and what should I expect as a volunteer?

Emily: We try to make sure that every group has a really good experience in that we are flexible. So we give you your supplies next Saturday. then you have till June 11.  So there is some wiggle room if your team wants to do it during the week on the weekends.We recommend you do some power washing and prep-work first let it kind of settle and dry for a few days. it could take anywhere form a week to 2 weeks. As long as people coordinate with the home owner.

Thom: For instance on our team we have a couple people some vacationtime . over that 2 week time frame. so they are excited they can still be able to participate and help with that initial prep-work, for the painting.

Dave: That is nice! Let me ask you this question DO I have to know how to paint a house?

Emily: Well If you a can use a paintbrush you can paint a house! We do provide some instructionwhen you sign up, that has links to youtube videos. To so you how to paint a house! It is a long standing program ,its been around for 34 years. Chances are there is someone on your team that can give you have basics.

Dave: Let me ask another question. If i am an individual not like Core Group can I help out?

Emily: So we have a couple opportunists for individuals going out and taking before and after pictures of . homes. To demonstrate the impact on painting the homes. we also have volunteers going out and doing landscaping, yard cleanup before the homes are painted.Covering flowers, pulling lawn ornaments off the walls. So the team can get right to work!

Thom: its kind of awkward to paint over the lawn ornaments!.

Dave: Emily if someone wants to go to your website what is your website? 

Emily: We are at Paintthetownboise.org!

Dave: Paintthetownboiase.org! That is easy !

Thom: I think we should point out that right now registration is closed for this year. 

>Emily: We are always excepting volunteers. the more people that want to participate and join in this effort we are happy to have them.

Thom: If they cant or don't have the time to what are the other option is to donate?

Emily: Yes they can donate at paintthetownboise.org or come down to our kick off event next Saturday and Participate and meet your neighbors. We will have a classic car show,some free food, live entertainment.

Dave: Where is this going to be happening?
 
Emily: It will be at the Sherwin Williams on eagle and Fairview. their new location at 2680 E Fairview ave.

Dave:: Is that where people pick up their supplies?

Emily: Yes.

Dave: So if their are groups coming you might want to come down and make some extra time, not just picking up your stuff and go, but stick around and enjoy the car show and take advantage of that. Tell me about you are involves with other than paint the town. What are some of the other projects you are involved with?`

Emily: At neighborhood Boise we also do Rake up Boise,Which we"ll start planning in August that happens in November 12. That event reaches 5,000 volunteers because those teams are free of charge. So we get school groups kindergarten up to groups like Core Group Realty.

Thom: We have participated in that one in the last couple years. To me it's almost like a zen moment you go out early in the morning and you take a rake and all you are doingis raking the leaves in to piles and throwing them in to a bags. It's almost like a zen experience, it's quiet you have your coffee, your raking up leaves. Just enjoying the morning.

Dave: sounds better than scraping a house and painting!

Emily: Ya, and you can see that it is an immediate in pack! To go from a house full of leaves to a clean yard with all these bags lined up in a row on the street.

Dave: Again with pain the town. it has been a few years scene i participated in the program, but it really is a great opportunity to if you are with a teamand your companyto make it a team building expectancy. I assume with Core that is what you have done.

Thom: Ya that our group is about. Our agents and employs get together andit is a great bonding experience working together, and learning to work together making those functions happen.

Dave So if you are looking for your business to get a gropu activity for some team building it is a great way to do it, and to help out a great cause. Most of these homesare seinors? AmI correct on that.. or people with special needs?

Emily: Definitely!

Dave: So this is for folks who can't afford or physically can't paint the house. I know that every year I was involved with itthey are so appreciative! People coming out , and amazed that someone would come and do this for me. Because lets be honest its not cheep toget your home painted. 

Thom: NOT at all!

Dave: There are painting companyright now saying "You got that right"its not cheep to do it, but it makes such an impact on these peoples lives. 

Thom: It really does!

Dave I guessone of the things that I am a firm believer inthat you derive our living from this community and various ways, whether its Real Estate or the show I am involved with, it's important for us to give back to our community! In some way or another, and if you ever thought I need to do something here is a good chance to do something. Emily again how would someone get a hold of you if they want more information about paint the town coming up?

Emily: They can email us at paintthetownboise.org or they can give me a call at 258-6222.

Dave: Andthe date of paint the town officially is?

Emily: June 11.

Dave: June 11. Which will be here before we know it!

Thom: Ya it is really around the corner!

Dave: So how many people on youteam Thom?

Thom:  Right now we have 7 of us signed up. Including myself and i was told i have 3 others that wanted to participate as well. So I have to get my team to that 10.

Dave what is the average size of a team?

Emily:Average I would say 15 to 20. 

Dave: Thom you need more.

Thom: Ya!

Emily: Thom you will be good!

Thom: I have some friends I can call.

Dave: By the way if you would like to call Core Group Realty you can do thatat 933-7777, if you have more questions about paint the town. Their customer care team will direct you to as how to get a hold of them in case you didn't' get the website or phone number. Paint the town coming up in June. You will see that Core Group Realtyteam out there they will be paintingand having a good time.

Thom: Ya For sure!

Emily: Thank you!
 
Dave: By the way CoreGroupRealty.com is the website if you want more information not only about pain the town, but about homes that are for sale. We had that for you each and every Saturday we get together to talk about that! We will continue here on the other side on 580KIDL

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