Are You Interested In Downriver Michigan Real Estate Deals? – Lisa Sobell
On this episode of The Closing Table, we sat down with Lisa Sobell!
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 Lisa Sobell…
The conversation began with a word association icebreaker on cold calling, staging, and more. Lisa isn’t just a real estate expert; she’s also a dedicated mother. Her son, who is now 27, was deeply involved in sports during his upbringing. Remarkably, Lisa has continued to stay connected to the world of sports. She actively sponsors various youth teams, ranging from football to hockey, fostering a bond not only with the kids but also with their parents.
Lisa’s real estate office is located in Southgate, and her primary focus remains within the downriver region. However, she also extends her services to Monroe County and occasionally ventures as far as Jackson County, where she recently closed a sale in Grass Lake. She’s well-versed in the southern lower peninsula and has even conducted showings as far north as Lake Superior, adding an element of adventure to her real estate career.
In the region Lisa covers, there has been a noticeable decrease of approximately 2500 sales compared to the same period last year. Despite this dip, it’s still a robust seller’s market. Notably, the days a property spends on the market have seen a significant improvement since the beginning of the year, plummeting from 30 days to a mere 9 days. This swift turnaround highlights the market’s appetite for well-priced properties. The average sales price in Lisa’s area stands at a reasonable $265,000, offering options for a broad range of buyers. However, she has observed that new buyers are increasingly encountering challenges in finding homes within the lower price range of $150,000 to $170,000. These properties are becoming scarcer as time progresses.
When asked about the strangest things she’s encountered at properties, Lisa had not one but two intriguing stories to share, giving us a glimpse into the unexpected aspects of her real estate experiences. In her hometown, Lisa had quite the experience showing a peculiar house to a friend. The basement of this particular property raised serious questions about its previous use, leaving a disturbing impression. In another instance, still in her hometown during a period of high foreclosure rates, Lisa and her team stumbled upon a unique challenge. A large foreclosed house had water pouring into it due to a leaky roof. Interestingly, Lisa prefers showing houses during inclement weather like rain or snow because it helps identify potential issues like leaks. On this occasion, they made a rather unexpected discovery – a raccoon family had taken refuge at the base of the fireplace in the family room, with the mother raccoon appearing to have just given birth. Lisa and her team decided to leave, not wanting to disturb this unusual moment.
Following that, Martin highlights that his basketball background significantly contributed to his effective time management. Drawing parallels between the structured athlete’s routine and his real estate commitments, he deftly translated the discipline of morning and evening training into prospect meetings and house showings. This seamless transition was facilitated by his experience in making swift decisions under pressure during basketball games. Just as in his sports career, real estate transactions involve immense pressure due to their high-stakes nature. Martin’s earnest approach to real estate, stemming from his basketball ethos, propelled him to construct a solid foundation by understanding transactional processes, mastering terminology, and establishing a cohesive team. He tailors his approach based on the client, focusing on education for first-time homebuyers and offering specialized services for professional athletes.
Martin acknowledges that every realtor faces the challenge of demanding clients who might call early in the morning with concerns. His strategy revolves around maintaining composure and actively seeking solutions. Recognizing that these clients often grapple with anxiety, he adopts a firefighting approach, addressing their concerns and doubts. Establishing trust is vital, and Martin’s emphasis lies in assuring clients of his unwavering support, emphasizing that they are working together as a cohesive team.
Shifting gears, Lisa discussed her effective marketing strategy of using sneak previews to generate interest among potential buyers. Lisa explained that she approaches this strategy the way she’d want her own property marketed. She starts by getting professional photography done and creating a “coming soon” listing to attract prospective buyers. By the time the property goes live, there’s already a buzz, resulting in a flurry of seven showings or more. This initial burst of interest gives the property a significant boost. Lisa explained that she approaches this strategy the way she’d want her own property marketed. She starts by getting professional photography done and creating a “coming soon” listing to attract prospective buyers. By the time the property goes live, there’s already a buzz, resulting in a flurry of seven showings or more. This initial burst of interest gives the property a significant boost.
When it comes to mediating conflicts between neighbors during property sales or purchases, Lisa highlighted common issues that tend to arise, such as disputes over fencing, tree removal, and property lines. She noted that many conflicts revolve around these issues, including who will bear the cost and how they’ll resolve the matter. Additionally, property lines can be a contentious topic, especially in older subdivisions where people may inadvertently tamper with state survey markers while installing lawn sprinklers or irrigation systems.
When discussing properties with fascinating histories, Lisa had an engaging story to share, emphasizing how she leverages such unique aspects to captivate potential buyers and provide them with memorable experiences. Lisa’s favorite story centers around a delightful couple she was assisting in their search for a downtown condo. Their journey led them to the 1300 Lafayette building, a stunning architectural gem. They initially made an offer that, although accepted, ultimately fell through. However, fate had something even more remarkable in store for them. A larger condo, with twice the square footage, became available in the same building. It required extensive renovation, and the couple invested their heart and soul into transforming it into a true showpiece. But what truly made this condo special was its historic resident – Diana Ross. The fact that the legendary singer had lived in the same building became a significant draw, adding a touch of glamour to the property.
Discussing her offer of notary services to clients, Lisa highlighted its convenience and shared how it has made a meaningful difference in various situations. She provides notary services for her clients free of charge, and she can now do it remotely online. This means that even if clients are out of state, as long as Lisa is in Michigan, she can assist with notarization. She explained that notary services ensure the identity of the person signing the documents, and while she may not need to see ID for individuals she knows well, for others, she takes the necessary precautions. Lisa has assisted clients in various scenarios, from legal documents needed in court to matters like reinstating driver’s licenses or handling medical paperwork.
Following that, Lisa shares that she often encounters clients who have strong emotional attachments to their homes. In such situations, especially for those who grew up in the home, parting with their family residence can be emotionally challenging. Lisa’s advice is to have a closing party before handing over the keys to the new owners. Whether it’s a simple gathering with pizza and beer or a full dinner, having friends and family over for one last celebration in the house provides a sense of closure and helps the sellers cope with the emotional aspect of moving on. It’s a thoughtful gesture that acknowledges the significance of the place they’ve called home for so long.
Lisa’s commitment to assisting clients extends well beyond the sale itself. When clients encounter post-sale challenges, like plumbing issues, for instance, Lisa readily provides them with a wealth of reliable referrals. These referrals include trusted professionals such as plumbers and roofers, individuals she would personally entrust to work with her parents. This approach assures clients that they’re receiving top-notch recommendations from someone who values their well-being.
Furthermore, Lisa goes the extra mile by offering a comprehensive list of resources for various home improvement needs, whether it’s for a fixer-upper requiring plumbing, roofing, or concrete work. Additionally, during tax reassessment times, Lisa proactively invites her buyers to share their new tax assessments. By analyzing comparable properties, she can potentially identify discrepancies and assist in addressing any adjustments that might be needed, providing valuable insights into the often complex realm of property taxation.
The conversation wraps up with Lisa sharing what strategy she would adopt to achieve homeownership. Lisa acknowledges that homes have become more expensive, necessitating careful financial planning. She emphasizes the importance of having a substantial amount saved for various upfront costs, including the down payment, moving expenses, and closing costs. A key recommendation is to collaborate with a reputable lender who can provide a detailed breakdown of these expenses. An essential aspect often overlooked is the appraisal fee, which must be paid upfront, ranging from $600 to $1800. Lisa recounts instances where buyers were caught off guard by this expense.
Furthermore, Lisa delves into the complexities of making offers, especially for first-time homebuyers. Escalation clauses and additional costs, like those associated with appraisal guarantees, can present nerve-wracking challenges. This underscores the vital need for comprehensive preparation and understanding of the financial demands involved in the home buying process.
Check out Lisa Sobell:
Facebook: https://www.facebook.com/lisaowens.sobell
If you loved this episode subscribe so you never miss one! Want more The Closing Table content? Head over to our blog.