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Welcome back to a special edition of the Willis -- -- re building the American dream.
We're getting to the bottom of the most pressing issues facing Americans in the housing market like -- -- ad buyer sell your property.
Our expert panel realtors there white hot panel of realtors joining me now with their tips and tricks of the trade.
Kendra Todd is the founder and CEO of the Kendra Todd group in Seattle.
And -- Alexander is the co-founder of the Alexander group welcome to you both great to have you both here.
-- -- start with you beaches.
You sold the most expensive house in Miami ever -- -- take a look at these pictures people it's a beautiful mansion and -- 47 million dollars.
Originally priced at sixteen million had to bring -- down to 52 and finally 47 so.
For our viewers out there who you know maybe they're trying to sell and having to re price what's here -- markets.
Actually Jerry was originally price of 52.
And because of all the because of all the trap that we had coming to see the house we -- it to sixty and then we reduced to bacteria into.
And that's where we got to our final price 47 but this is considered a big success out there so.
What did you tell the sellers about moving the price around where they happy with what they got and how did you come did this come to settle on that number.
I think the seller realize that this was an irreplaceable.
Piece of property there is nothing like -- in the market as well as they knew there was nothing coming to market.
In the next couple years I can compare to this.
I think she got to think about your bit how special your property is and when you bring -- market that nobody else does.
Can -- you you've been on the West Coast I know you do business all over the country.
Talk to me about what you're saying in your marketplace out there -- -- different from anywhere else -- housing prices stable or rising what's going on.
-- -- experienced seen some really great news recently here on the West Coast and particularly in Seattle is.
A matter of fact.
REALTOR.com posted to the third quarter top ten turnaround markets in the country.
And nine of them are on the West Coast -- Seattle is number four.
-- coincidentally Seattle as the only city on not list -- didn't get absolutely slammed during the housing downturn.
Like California and Nevada and Arizona.
So we actually in October -- Jerry experience says 16%.
Year over year price increase which -- the highest rates increased.
The week -- for a median single highly home I like that the thousands that that's Kim -- out.
-- -- shared one of the selling tips when you give us a buying tip figure out there you're looking for property.
You're trying to analyze -- marketplace how -- how you doing -- successful lad a what's what's the key to understanding what's going on with prices.
Well I think number one you have to understand what's going on in your local market here in Seattle for example.
We're experiencing -- really low inventory there's just not a lot of really great homes for sale -- As a result we're experiencing bidding war -- multiple offer situations.
And so we're having to Coach buyers on really jumping on that home that they like -- coming.
Went to the table to really strong offer been pre qualified.
Had a time and I'd be willing to pull the trigger -- of course not everybody very paternity.
Not everybody is dealing with a market where it's you know multiple bidders -- bidding war.
-- -- you -- you know -- in Miami I know that market has been in recovery and is doing better.
But it might not be exactly where you want to today what do you do when you've got a property you're trying to sell out there and and position just the right way to make sure your appealing the right people you're dealing with it.
Probably person -- -- high -- crowd I would think.
Yeah I think the key to sell their properties specifically for -- a record price -- the great broker.
It's important that the broker has -- international presence since most of the buyers today in both Miami New York specifically in the high and are coming from foreign markets.
There's a lot of the buyers over the last couple of years have been.
From foreign markets -- We even talking about an issue that I want to bring up now in this interview which is the fiscal cliff.
And what's going on with housing.
Vis -- how are our tax rates could change can -- you start us -- here is that could be a big issue.
Where you are and forty telling clients.
I I really do think it's gonna be a big issue it's a giant concerning -- -- about what's gonna happen with tax increases that.
Just that the whole idea that -- is that cap on the long term capital gains is gonna drive away.
Particularly a lot of investor -- and investors have really absorbed a lot of the foreclosure properties across this country.
Helped push us towards -- housing recovery.
And so we we need that we need those buyers in the market to help keep us stable I think right now lack as sustainable real estate recovery is an absolute wild card with all this uncertainty while -- do you agree -- more optimistic.
Well I have seen everything uptick in the past -- since the election of sellers looking to try to get rid of the properties before the year and -- you're seeing.
More people at the -- and coming into the mark because they're worried about half taxes -- change is that right that's correct nagging.
How likely is that you -- -- a property in a short period of time.
Well I am good -- what I do.
Summed -- quite confident that today with the fact that the market has so many buyers that are waiting.
To purchase these trophy properties.
That there is an opportunity to possibly unload -- property think.
You can match them up but still that's a high high level task but clearly.
Even people at the high end are concerned about what's going on with taxes right now that is correct it.
-- -- Kendrick what are you advising people who are worried about this can tell people to unload properties are you telling them to buying now what's your basic advice.
Well I I think it's an incredible times -- -- regardless now for sellers it's a very different story.
If they can't sell -- they -- activity in the property and strongly encouraging them to sell and and to sell now -- and they don't deal with the long term tax implications.
However we still have a major negative equity problem in this country and a lot of people.
Need that forward momentum -- that -- get out from under their mortgages -- but.
I told you they Wear a white hot panel he can't read -- thanks for covenants -- really appreciate it that job.
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