San Francisco Real Estate: Escrow Out Loud
#32: Hi Mom!
A house in Idaho, a house in Colorado, a house in Michigan, and a house in New Mexico! Matt’s parents', (the Fullers) home journey of the Wests: Northwest, Midwest, and Southwest. This week on Escrow Out Loud, our San Francisco Real Estate podcast, Matt interviews his mom about her real estate experiences from the first 1977 property purchase to the present home.
[00:21] The Fullers bought and sold their first house in Boise, Idaho all within a 4-month time period – AND netted a profit. The quick turn because of a work re-direction back to Denver.
[03:48] The Fullers arrived in Denver with a whole weekend to find and buy a home. Fortunately, a great real estate agent was connected via Matt's Dads work. In 1977, to get on the property ladder of home ownership, the Fuller’s needed a 20% down payment. While they had most of the money in savings, family helped a little too. Family gift money continues to be allowed within certain parameters today with required disclosures.
[07:50] Next stop: On the Midwest and home in Michigan! The Fullers found that the houses were often dark and scoured for a property with numerous, large windows and lots of natural light. Light is only possible when it exists which it doesn't in the winter; the Fullers couldn’t wait to get out of Michigan. An opportunity to relocate to New Mexico was a quick decision to move toward the sun!
[13:54] Settling first in Gallup, New Mexico; a small, rural town surrounded by the Navajo and Zuni reservations. The reservations prevented expansion of the town creating a competitive real estate market. Once the next Fuller home was identified, it was a quick sale from the owner. For Sale By Owner (FSBO) was also the Fullers choice when their travels took them to Albuquerque. So, how did this process turn out?
[16:24] What are some of the things to look out for in a realtor. Matt’s mom shares some of the good and the bad experiences while Matt reveals what exactly ‘cute’ means in “realtor” talk.
[20:10] From the first purchase in the seventies to the latest one in the new millennium, how much have things changed over the years? The process of buying and selling a house remains fundamentally the same, however, real estate has evolved with the internet and modern connectivity. To wrap up, we share two perspectives on this, the buyer vs the realtor.
Thank you for joining us for this week’s episode. We hope you enjoyed it and join us again next week for more interesting stories!