My wife and I have bought and sold several homes in the forty two years that we have been married. We have dealt with many personalities and attitudes with the representing agents. We had never prepared ourselves for the professional training and winning attitude that has been shown us by the team of Elgin and Pilar Walker.
John and Mary Ann Sprengelmer,
Elgin Walker

Elgin Walker

Do you have to have title insurance?

TECHNICALLY no, BUT you really SHOULD and if you are financing property you will have to or the lender will not finance. So what does title do and how to get around it?

The only way I am aware of it is to pay cash or do seller financing where no loan from an institution is required. Title insurance main function is to make sure property when property is transferred there are no liens, encumbrances on the property LEFT by the seller or BROUGHT ON by the buyer. What do I mean?

Well as a seller title makes sures any loans are paid off, cleared before property is transferred to the new buyer. If you have any mechanic liens, outstanding taxes, any types of debits that are tied to the property they will need to be paid off PRIOR or DURING close of escrow normally done WITHIN escrow. As a seller you want to make sure nothing lingers over you AFTER escrow closes and as a buyer you do not want to encumber any debits from the seller that are not yours. What about title insurance on the buyer?

Mainly this is to ensure there are no liens AGAINST THE BUYERS NAME prior to closing escrow. The new lender does not want to see any liens against the buyer that could possibly effect the property AFTER the buyer takes ownership and possession.

If title misses something the insurance will cover it and deal with it so the buyer or seller may have comfort after escrow closes there are no other issues.

A QUICK NOTE ON THE CURRENT MARKET! It is changing. NOT CRASHING but changing. Really take note and make adjustments on moving forward NOT THE PAST and in real estate the past can be just last week!



People asking is the market crashing, the real estate market that is. I am asked if the rates are coming down and prices coming down so I should hold off to buy? Well lets really take a quick look at this stuff. I am not in the camp of a crash (but a slowing) and really do not believe waiting to purchase is smart right now!

Not just real estate. Lets talk about your life dash.

Taking from the words of Drake I dont want them not miss until I am gone. If you have heard me speak live you know that I am a big proponent of making your dash mean something. If you are not familiar with the “DASH” it is the time between from the day you are born until the day you die.  What do you do with your time? How do you want to be remembered? What legacy do you want to leave?

As I have gotten older I realize the dash changes. What changes is what you to accomplish and one thing to me is make time for me.  You can live your whole for your OTHERS in your dash but it probably will not mean the same to them and it shouldn’t. ITS YOUR DASH and one day you look up and you are at the end.  Did you enjoy the dash?  Lets discuss this.

The Real Estate Market HAS changed!

We have been discussing this. A change in the Real Estate market. You will hear the term shift. Let me explain what we are talking about at least WHAT I AM TALKING ABOUT.

For years the market has been on a tear meaning prices up, interest rates at historical lows, housing inventory low and more buyers than sellers. This keeps prices of homes rising, and it generates multiple bids pretty much on EVERYTHING priced well and/or in great condition. So what is happening now?

Well first off homes are still selling, rates have risen BUT they are low compared to other years I have been selling real estate. Homes are sitting on the market longer and prices today ARE MORE IMPORTANT than they were say 6 months ago.

Are we about to crash? I do not have a crystal ball but I DO NOT THINK SO, but I will say it may take a little longer to sell your home now. Why? Well with rates higher and prices up, less buyers particularly in the first time or lower end market have the ability to afford it or qualify. Inventory is still HISTORICALLY low BUT near as low as it was so buyers have choices maybe not a lot but some. TAKE A NOTICE OF THE PRICE ADJUSTMENTS? Take notice of the days on market it is taking for homes to sell. Truth be told its not that long BUT when you are use to seeing homes sell in HOURS, it appears like forever when it takes 30 or 45 days.

What not to do as a seller? Do not put your home on the market with a “Lets see if we get any offers” attitude. If you want or need to sell price it accordingly.

What not to do a a buyer? Do not wait to buy. If prices come down but interest rates keep rising YOU WILL STILL PAY MORE PER MONTH FOR YOUR HOME and what you pay monthly is what really counts. Remember that.

The real estate market IS changing and SHIFTING

We talk often or asked often about how is the market? Is it going to correct?  Is it going to crash?  Will it continue to just go up and up and up?  If I know the answers to that I would not be doing this blog!  HAHAHAHAHAHA. I have to tell you though, after 30 years of doing this I have seen a few things.  Lets talk about something I see NOW.

  1. Lots of open house —-Not necessarily a bad thing but DIFFERENT when the  market is selling right away. Open houses were not needed because the homes sell so fast.
  2. More homes on the market.  The inventory is still low BUT in an area I work there are over 120 more AVAILABLE homes than this same time last year.
  3. Price adjustments—You are seeing a lot more homes reduce their prices and reduce them in shorter market times meaning they may be on the market only a couple of weeks and reducing prices.

For more stuff check out the video. Interesting stuff.

Are you paying attention to the rates RISING? You better!

Interest rising and some of us are not paying attention.  Have been pre-approved but have not identified a property or locked in rate yet? Check with your loan representative but you may be surprised what your rate is now and how that affects your monthly payment AND YOUR QUALIFICATIONS.  Listen to this PODCAST episode and lets discuss.


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