San Francisco Real Estate: Escrow Out Loud
#34: Hi Dad! (part 2 of 2)
This week on Escrow Out Loud, our San Francisco Real Estate podcast, we pick up where we left off last week for part 2 of Matt’s interview with his dad.
[00:20] For sale by owner in Gallup, New Mexico! It took some time upon moving to Gallup to find the right property, but one day while out exploring, Mr. Fuller spotted a for sale sign. Like most of their properties, the house in Gallup underwent some renovations before it truly became a home. Fortuitously, due to a new high school being built, the area they purchased their property in became more desirable over the years. Coupled with the renovations they completed, it meant the Fullers were able to sell for a profit when they decided to move again, this time to Albuquerque.
[03:13] In Albuquerque, after an unpleasant experience with their first realtor, the Fullers reached out to Matt for some recommendations on finding a good one.
Polybutylene piping, home improvements, and refinancing options. What adventures did Albuquerque have in store for the Fullers? It is interesting to consider how much quicker a property appreciates in San Francisco (SF) nowadays, compared to some of the other areas of the US – it takes a month in SF rather than years or decades that it might take in areas where supply and demand is more balanced.
[07:57] We look back at how much things have changed in real estate over the years. As we have previously discussed (listen to the interview with Matt's Mum here), technology and the internet, in particular, changed certain aspects of the process. Everything happens a lot faster and in some cases with just a click of a button! Also, there was a positive change in the representation of the buyer’s interests. Realtors now have a duty to the buyer — ie., buyer agency vs. being a sub-agent of the seller.
[10:30] To wrap up, Mr. Fuller's points out how not all realtors seem to stay on top of all aspects of the process. It is rare to find a team, or person, who does it all and does it well. What was it like for Matt to make that leap from the corporate world to real estate 16 years ago?
Thank you for joining us for this week’s episode. We hope you enjoyed this interview and join us again next week when we chat with Britton’s mum!