How To Ace Home Inspections And Real Estate Negotiation Tips – Kelly Hude
On this episode of The Closing Table, we sat down with Kelly Hude!
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 Kelly Hude…
The conversation began with a this or that icebreaker on homeowners insurance, house hacking, and more. Beyond her real estate profession, Kelly introduces herself as a dedicated mother of two children. She values her role as a mom and actively supports her children’s involvement in sports, spending a significant amount of time on the field or court with them.
Kelly primarily serves the Mason, Michigan area where she resides and conducts a substantial portion of her business. Additionally, she extends her services to the entire Lansing area, encompassing various neighboring towns and cities. With her extensive licensing in multiple regions of Michigan, she has successfully served clients in different parts of the city.
Next, Kelly talks about how things have changed in the last 20 years, especially in terms of who is in charge of doing inspections. Since all agents are now independent contractors, there are big differences in how they do their business. She also talks about how important home inspections are and how much she believes in their value. She says very strongly that inspections should never be skipped as they are the most important part of buying a home because they give buyers important information about the property they want to buy. Inspections give buyers a full picture of the home’s state, giving them peace of mind and a good idea of the property’s overall condition. Kelly never tells anyone to skip an inspection, even when the market is tough, because she wants what’s best for the buyer.
When considering improvements to the home, it’s important to understand which ones can potentially save you money on your taxes. Kelly mentions that certain energy-efficient improvements may qualify for tax credits. However, she advises consulting with an accountant before making any decisions, as government policies regarding tax credits can change rapidly. While tax credits can be beneficial, they can also be easily modified or discontinued. Differentiating between improvements and repairs, Kelly explains that improvements typically involve renovations like retiling bathrooms or upgrading kitchen counters. Repairs, on the other hand, are essential fixes that need to be addressed, such as a broken furnace or a roof leak, before listing the property.
Kevin then asked what the common mistakes she sees when it comes to remodeling homes. One common mistake Kelly frequently encounters is people going over budget during remodeling projects. She stresses the importance of being cautious when determining the budget, especially if planning to relist the property. It’s crucial to ensure that the amount spent aligns with the expected returns, considering that market conditions can change unexpectedly. If the neighborhood doesn’t typically warrant high-end upgrades like quartz countertops, it may be wise to forgo such expenses. Kelly recommends consulting with an agent, especially if planning to sell within the next 3-5 years, to discuss these factors and make informed decisions.
Kelly also shares how she specializes in cost-effective kitchen updates and suggests various options to refresh the space without spending tens of thousands of dollars. For instance, if the countertops are in good condition and quartz is not desired, a beautiful backsplash can significantly enhance the kitchen’s appearance. Changing hardware and fixtures or repainting cabinets are other affordable ways to refresh the space while staying within budget.
Being an agent for 20 years, Kelly reflects on the changes witnessed in the market over the years, she acknowledges both favorable shifts for buyers and sellers. She shared that she obtained her license in 1999 in Seattle, and returned to Mason in 2004. At that time, the market was strong, favoring sellers in what was known as a seller’s market. However, with the onset of the economic downturn in 2008, the market flipped, transitioning into a buyer’s market. This period presented excellent opportunities for buyers, as property values plummeted, sometimes reaching only 50% of their previous worth. It became an advantageous time for investors. However, Kelly recalls the emotional toll it took on her as a sellers’ agent, witnessing the hardships faced by many homeowners who were financially burdened, experiencing job losses and a severe financial crisis.
In 2017, Kelly discussed how the market began to recover, bringing positive changes. Former clients who had purchased properties during the downturn started reaching out to Kelly, eager to list their homes and capitalize on the increased equity. This period was particularly rewarding for Kelly, as she witnessed her clients walk away with substantial financial gains. Today, the real estate market leans towards a buyers’ market, but it comes with its challenges. With a shortage of inventory and fierce competition, potential buyers often face rejection even after making offers. Kelly emphasizes that despite her industry expertise, the current situation remains perplexing, and it’s a matter of waiting and observing how things unfold.
The conversation wraps up with Kelly sharing how she leverages her deep roots growing up in Mason. Kelly harnesses her extensive local connections and deep-rooted ties to help her clients in finding their ideal homes. Her wealth of relationships and familial connections within the community play a significant role in her real estate endeavors. These connections often lead to valuable referrals, as her reputation for providing exceptional service precedes her. Plus, Kelly’s involvement in the community, particularly her engagement with the school system and various charitable organizations, has been greatly beneficial.
Check out Kelly Hude:
https://www.facebook.com/KellyHudeSellsHomes
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