Home Buying 101: Uncovering St. Clair Shores’ Secrets – Bryce Holcombe
On this episode of The Closing Table, we sat down with Bryce Holcombe!
To watch the full episode, check it out on YouTube below. In the meantime, here’s a summary of the conversation…
Here’s what you missed from Bryce Holcombe…
The conversation began with a this or that icebreaker on cash flow, long-term rental, and more. Bryce is more than just a real estate professional; he’s a husband and a proud father to a three-month-old baby girl. Beyond his family life, Bryce’s passions include golf, a die-hard enthusiasm for sports, particularly the Detroit Lions, and engaging in regular poker nights with his close-knit group of friends.
Bryce’s primary focus in the real estate market centers around St. Claire Shores, a community he calls home and where his office is situated. His services extend to the surrounding areas, primarily Metro Detroit, Roseville, Warren, and more. Notably, St. Claire Shores boasts a thriving boating community, with Lake St. Claire serving as a prominent attraction. Along its shores, you’ll find a cluster of restaurants overlooking the water, adding to the area’s charm.
In St. Claire Shores, the real estate landscape presents an average home price ranging from $200,000 to $225,000. The predominant housing style consists of cozy three-bedroom ranches, typically spanning between 900 to 1200 square feet. Homes in this area tend to fly off the market, often spending a mere 1 to 3 days listed before garnering significant attention. Multiple offers are not uncommon when a property is well-priced and appealing.
When discussing the real estate industry’s most formidable challenges, Bryce emphasizes the ever-shifting nature of the market. It’s a realm where one day everything may be sailing smoothly, only for the next to bring unexpected hurdles, whether it’s a property’s condition deteriorating or a deal unraveling. Certain factors, such as fluctuating interest rates, remain beyond an agent’s control, affecting buyers’ purchasing power. In this dynamic environment, Bryce underscores the importance of staying vigilant, constantly educating oneself, and keeping a finger on the pulse of interest rate changes. His approach centers on arming both buyers and sellers with as much information as possible to alleviate the stress often associated with buying or selling a home, recognizing that these transactions are significant life events.
In the world of real estate, Bryce has certainly witnessed his fair share of peculiar situations. When asked about the strangest thing he’s encountered at a property, he offers a lighthearted glimpse into the quirkier side of the job. From stripper poles discreetly tucked away to, quite literally, the “unattended” issues like dogs’ unexpected surprises left behind by sellers, it’s evident that real estate agents like Bryce have seen it all.
Shifting gears to the realm of client appreciation, Bryce’s approach reflects his own personality as a thoughtful giver. He describes his preference for presenting clients with a nice bottle of liquor or champagne as a token of his appreciation. While this might not be the most elaborate gift out there, it speaks to his genuine desire to express gratitude. Bryce does acknowledge, however, that he’s witnessed fellow agents craft more elaborate gift baskets filled with home essentials and other thoughtful items.
In the unpredictable world of real estate, Bryce reflects on a specific scenario that challenged his early days in the field. It involved a property listing from a high school acquaintance. On the surface, it seemed like a promising opportunity—a nice house in a good location. However, lurking beneath was a crawl space issue, compounded by a troublesome tree on the property. Despite attracting substantial attention with 50 to 60 showings, the property faced multiple setbacks, with eight different buyers backing out due to the crawl space problem. Eventually, the house found a buyer experienced in handling such issues, albeit at a slightly reduced price. This experience highlighted the unpredictable nature of real estate and the importance of managing client expectations.
In contrast to the occasional challenges, Bryce shares a heartwarming tale of a senior citizen client who sought his assistance to sell her cherished condo, a place laden with 30 to 35 years of memories. After a successful sale, this client reached out to Bryce, expressing deep gratitude for his help. This personal connection, rooted in trust and empathy, showcases the rewarding aspect of his profession. For Bryce, real estate isn’t just about transactions; it’s about making a meaningful difference in people’s lives, whether they are friends or referrals, and forging bonds that extend beyond property deals.
When faced with the question of dealing with demanding clients, Bryce’s perspective is pragmatic and empathetic. He notes that in the real estate realm, most clients tend to be demanding, and rightfully so. The magnitude of a property purchase or sale often makes it one of the most significant financial decisions they’ll ever make. Bryce takes pride in his approach, always remaining accessible through text or phone calls, regardless of the hour. He recognizes that clients in the midst of a transaction are understandably stressed and eager for answers. Consequently, he willingly makes himself available, striving to create a stress-free experience for his clients.
Transitioning into the ever-evolving landscape of the real estate market, Bryce recalls the pivotal moments in his career. Starting full-time in October 2019, he encountered what appeared to be a typical market. However, the onset of the COVID-19 pandemic just three months later brought significant changes. Low interest rates led to an influx of first-time homebuyers, altering the market dynamics. Bryce found himself operating in what felt like a neutral market, with sellers benefiting from robust demand while buyers had increased affordability. Yet, as interest rates fluctuated and inventory dwindled, the market took on new characteristics. Today, interest rates are considerably higher compared to previous years, and inventory remains scarce. The real estate landscape has experienced a series of ups and downs, demanding adaptability from agents like Bryce.
The conversation wraps up with Bryce sharing what strategy she would adopt to achieve homeownership given his accumulated knowledge and leveraging today’s resources. Bryce’s advice is grounded in financial prudence. He advocates the clichéd but practical strategy of saving as much money as possible. Having substantial buying power is key, encompassing not only the down payment but also funds for closing costs and the flexibility to potentially overpay or secure an appraisal guarantee. Bryce recognizes that saving remains a tried-and-true path to homeownership, even in the face of market fluctuations and uncertainties.
Check out Bryce Holcombe:
Facebook: https://www.facebook.com/bryce.holcombe
Facebook Business Page: https://www.facebook.com/bryceholcomberealtor
Instagram: https://www.instagram.com/bholcombe1/
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