Reflecting on 2024: Best Real Estate Insights, Highlights, and Stories

Are you ready to wrap up the year with a mix of real estate wisdom, unforgettable stories, and a few good laughs? Your Real Estate Mama host Jan Scott takes us on a journey through the best moments of 2024. From must-ask questions for real estate agents to shocking home inspection tales and essential mortgage tips, this episode is jam-packed with practical advice and heartwarming reflections.

What You’ll Learn:

1. The one question to always ask your real estate agent before hiring them.
2. Why title insurance is a must and what hidden risks it can save you from.
3. Mortgage tips to simplify the lending process, especially for self-employed buyers.
4. The importance of home inspections—even for new homes!
5. The ultimate decluttering guide to sell your home faster and for top dollar.

Memorable Quotes:

• “Buying a home is the biggest investment you’ll ever make. Don’t trust it to a rookie!”
• “Your agent should know the land—what’s under it, what’s around it, and its history.”
• “Decluttering isn’t just for showings; it makes moving out easier for you, too.”
• “People build houses, and people make mistakes. That’s why a good inspection is priceless.”

Sources:

• Tracy Newby, Anchor Title: Title policy and protecting your home ownership.
• Rose Roush, Mortgage Expert: Essential mortgage insights for buyers.
• Rion Du Plessis, Home Boss Inspection: Hidden dangers in old and new homes.

Conclusion:
From hilarious “crappy subdivision” stories to hard-hitting real estate advice, Jan Scott reminds us why experience and preparation matter. Whether you're a first-time buyer or a seasoned seller, this year’s highlights prove that “a little love, a lot of laughter, and always listening to your mama” is the key to success—both in real estate and in life.

Merry Christmas, Happy New Year, and here’s to an even better 2025!

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Have Real Estate Questions or Comments?
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Email: jan@yourrealestatemama.com
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Transcript

Reflecting on 2024: Best Moments and Highlights
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Jan: As we wrap up this year, I thought it would be fun to look back at some of the best moments of 2024. From tips and guests to laugh out loud stories, this episode is packed with highlights that made this year so special. Let's get to it.


Introduction to Your Real Estate Mama
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Jan: Hey there! Welcome to Your Real Estate Mama. I'm Jan Scott, and I'm here to help you navigate the ups and downs of buying or selling a home. I've been wrangling the real estate market for over 35 years, and trust me, with all this gray hair comes a whole lot of wisdom. I'm excited to share tips, a little humor, and plenty of encouragement to make your journey easier.

Whether you're new or a regular, I'm so glad you're here. Follow the show for new episodes every week and together we'll grow and help even more folks. Can you believe 2024 is almost over? This year has been such a wild, wonderful ride, and I've had the best time sharing my knowledge, wisdom, and of course, my crazy stories with you.

You all have truly been a blessing, and I'm so thankful for every listener who's joined me on this journey. I thought it would be fun to look back at some of the best moments of 2024.


The Importance of Choosing the Right Real Estate Agent
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Voice Over: From episode 1, Jan reveals the first question you should ask a real estate agent before committing.

Jan:How many deals have you completed in the past year in these neighborhoods, and how well do you know the area?

Well, you know, this question helps gauge the agent's experience and how familiar they are with the area. You don't want someone who has not been through the process many, many times. Hey, if your crazy Uncle Larry just got his real estate license, do you really want to trust him with the most expensive purchase?

that you will probably make in your entire life? Well, the answer to that question is no. Buying a home is usually the biggest investment you'll ever make and you don't want a rookie. The more closings an agent has, the more experienced in handling different situations. It would be a wonderful world if all things went as planned, but there are so many different hands involved in a real estate transaction.

There could be a mass of issues waiting around the corner. So make sure. Your agent is capable of handling what pops up. Knowing your area is so important, and this is why. I remember a subdivision located in one area where most all of the homes had septic tape problems due to a developer and builder era.

I went in to list a home in this neighborhood, and the sellers were there to greet me at the door, brought me in, Had been there about two years, and they started telling me the horror story about the first month that they lived there. Sewage kept backing up in the toilet, and backing up in the bathtub, and in the shower, and had to go back to the builder to fix it.

Come to find out all of the neighbors in the neighborhood in that area had the same issues. After spending time with this couple and talking to them, I could tell that they had had a real nightmare the first two years that they lived in this home and find out all the neighbors had the same issues. So this neighborhood, uh, in our office, it became known as the crappy subdivision.

So. Realtors in our area that were familiar with it knew to ask, when we go in and list, did you have septic tank problems? Did you have them fixed? Um, have you had the right inspections to make sure that this problem doesn't happen again? That is knowledge that only comes from experienced agents. And an agent who is familiar with the land will know about problems from builders.

They will also know where the flooding issues are. They'll know what neighborhoods have been hit by weather. I lived in an area of Alabama that was called Tornado Alley. Know several subdivisions that were completely wiped off the map by tornadoes. Well, ten years down the road, if that house resales, That's valuable information that you need to know.

A good agent will know how to research that.


Understanding Title Policies with Tracy Newby
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Voice Over: In Episode 12, Jan sits down with Tracy Newby from Anchor Title to discuss title policies.

Jan: A lot of work that goes behind the scenes to get to that closing table that day. Yes. You know, in a perfect world, everything is clear and there's no problems and you sign and go to closing and you have clear title on your home, but we all know we don't live in a perfect world.

That is correct. So, tell me what some of the clouds that maybe have come up on titles that you have found over the years. Title insurance, it protects us against claims or defects, and you only have to pay for it once. But defects are things such as, like, a person claiming ownership. Say it was an estate that sold the property, and I've had this happen, and two of the children said they were broke.

The only two children, and then after closing, we had a third child that nobody knew about. So it would protect you against that, improperly recorded documents, fraud, which, you know, we hear so much about now, forgery, liens, encroachments, and easements are other things that sometimes will cause issues.


Mortgage Insights with Rose Rauch
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Voice Over: Episode 13 features mortgage expert Rose Rauch, who pulls back the curtain on the complex world of home lending.

Jan: Let's talk about the very first thing that a potential homebuyer should do. Like, other than call you first, we know they need to call you first. But what are the things that they need to have in order for you to look at their financials and get them approved?

So, the following is going to be required, the mortgage application, um, that'll go through the basics of, you know, your job history, your, you know, living addresses, things like that. So, getting the basics. And credit report, you know, is always going to be required because we need that to see what kind of credit rating you have and make sure, you know, there's not any issues or concerns there.

And the documentation. So, documentation is pretty simple to get started. You know, you're going to need the Um, pay subs, the IDs, like your driver's license, social security cards, W 2s, um, some tax, you know, sometimes we'll include tax returns depending on that type of loan. Um, bank statements, we need to know where the money's coming from, you know, and sometimes that requires reserves as well.

So um, and if we're using, They can't just plop 20, 000 in there one day and have you verify them the next day. That 20, 000 has to be explained, correct, right? That is correct. I have a guy right now that I just got his bank statements and there's a 10, 000 deposit in there from 10 3, you know, on October 3rd.

I was like, okay, we had this conversation to start, so tell me about what this is. Well, he had a great explanation. It's a job bonus that he got from work. Okay, well, now we're going to need the check to show that you got that from your employer. The employer needs to notate that on their verification of employment.

You know, we have to what we call source those funds. So if you've got that mattress money sitting out there and you just want to put that cash in the bank, we're going to need that in there for at least 60 days because, you know, they are going to want to know where those funds came from. And if we can't explain them and it be accepted, then we may have to remove that from those sourced funds to actually use those for closing.

Everything has to be verified. Explain everything on your bank account. Yes, absolutely. And so now that we know we have to explain everything, why is all of this documentation needed? Well, we've got to make sure that the home buyer is actually credit worthy. So we're going through verifying all that information, making sure that job history is stable.

Um, you know, there is a mis under, you know, misunderstanding out there on two year job history. You know, that two year job history does not have to be at the same company, doesn't have to be in the same field, but we need to show that it's stable. So, there's different things that we have to do, you know, per each loan guideline.

So, those things are, you know, going to have to be, you know, reviewed and everything, and that's why it's important to have a full application and all the documentation. Right, and just briefly, if they're self employed, that is a whole new ball game. My suggestion is if you are self employed, your documentation needs to be one on one with Rose.

Absolutely. Perfect example, I had a guy out of Texas that, um, worked insurance claims and he was in roofing. So, he did, he went in and did a lot of repairs for roofing and things like that. But, you know, they had, you know, On their tax return, you're looking at the bottom line. So let's say, you know, he was a Schedule C.

On the bottom line, he had, you know, a negative 280 some thousand dollars of income. So there was no income for us to use, even though his income was great that year. But unfortunately, we have to look at that bottom line. And so, he didn't have the income, so that's where we actually switched it over to what we call a bank statement loan.

So, we've got a lot of options for self employed borrowers. So, heads up, if you're self employed, you just need to call Rose. Absolutely. And go and say, or she can help, she can work it out. Yes.


What Real Estate Agents Do for You
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Voice Over: In Episode 11, Jan answers the question, What exactly will a real estate agent do for you?

Jan: Here are just a few of the tasks an agent handles to make your experience smoother and more successful. Well, the number one thing is they find a home within your budget. And in the real estate jungle today, that's not an easy task. Next, they research neighborhoods to find the one that fits your lifestyle. Then they prepare and submit competitive offers.

They negotiate terms on your behalf. They handle requests for repairs after inspections and guide you through the closing process. And that is just scratching the surface. I actually have a list of 179 tasks agents do to make sure you're taken care of every step of the way. And if you'd like the full list, just send me an email to jan@yourrealestatemama.com. I'd love to send you the list. Real estate agents do a lot. Think of them first and foremost as your guide through all the complicated tasks that lead up to closing day. Plus, research from the National Association of Realtors says you'll sell your home for more money with an agent than by selling it solo, and it also states that buyers get a better price when buying through a buyer agent.

Among the many things that real estate agents do, Here's a list of some great questions to ask your agent before you commit. Number one, how will you communicate with me? Number two, what sets you apart from other real estate agents? Number three, if I sign a contract with you, can I cancel without a penalty before I buy a house?

Number four, what is a previous client of yours that I can call for a reference? Once you've found the right real estate agent, congratulations, you are ready to go and this is a great accomplishment.


The Necessity of Home Inspections
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Voice Over: From Episode 6, Jan and Rion Du Plessis from Home Boss Inspection Service explain why every homebuyer needs a thorough inspection.

Jan: What are some of the major problems that you find in homes, maybe older homes versus, and then we'll go from, to newer homes? Because I know there's a lot of problems in newer homes as well, just because it's brand new and under construction doesn't, doesn't help. Necessarily mean it's correct, right? That is, that is correct.

So on older homes, what we found a lot is in this area, we had some recalled plumbing. We had, uh, polybutylene, which is gray. Um, and that was recalled in 1995 and that they actually started installing in houses in this area from 1979 to 1995. And then they recalled it, and then they, we also had Durex, which is also a bad, uh.

regarded as a bad PEX line. And that was recalled in 2012. So that we see that a lot of older houses, um, some of the electrical panels were recalled. So we still find those a lot. Um, and then on newer houses, I mean, there's a lot of stuff. Um, but I can tell you one of the biggest concerns for me if I was buying the, a newer home that I've seen is look, these, they have to clear land to accommodate these, uh, these, these subdivisions.

So what I found quite a lot is that the grading for the house or around the house, um, is not adequate. In other words, Should there be a lot of rainfall and we do have that in this area, you know, water is either going to accumulate right at the house or it's going to accumulate between you, you and your neighbor's house.

And it's just going to sit there and instead of that water running into the retention pond. You know, behind it and stuff like that. So, I mean, there's so many variables, um, but at the end of the day, remember that people build houses, people, um, make mistakes, um, they take, uh, they get lazy, they cut corners.

So, you know, we are there to find those mistakes.


Preparing Your Home for the Market
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Voice Over: And finally from episode two, Jan delivers the ultimate ready set cell guide, sharing the most important tip in the 10 crucial steps to prepare your home for the market.

Jan: Tip number three, declutter living areas. Less is definitely more when it comes to getting your house ready to show.

I could not believe my eyes on one of my very first listings. When I started selling real estate in Birmingham, I walked in the front door. I literally had to turn sideways to get in the house. There were newspapers stacked up along the wall as far as you could see around the living room. The sofa had one spot where she had been sitting.

The rest of it was old newspapers, old clothes, um, bottles. She really had a hoarding problem. Looking around, I could not believe what I was seeing. Finally, my heart got the best of me. How was I going to help this lady? So, in mama fashion, I started working on a plan. I called it Operation Cleanout. I went back to the office, and I was telling the other agents about this the next day, and they said, Why do you want to fool with that?

Just, it'll never sell. You'll never get it cleaned out. Well, mama doesn't take no for an answer. And I started my plan and the end of the story goes like this. I helped them clean out the whole house, did the very things that I'm telling you about and the home sold a week after I put the sign in the yard for full price.

Okay. So I know I told y'all a story. That's probably not like your house. I'm a little dramatic there, but I need you to understand that you need to do a clean sweep of your counters. Window sales, tables, and all the other visible areas, and then tackle behind your doors, open your closet, your drawers.

cabinets. And if you think buyers will not open up your pantry and see what your favorite pancake mix is, you're wrong. They will. You want buyers to visualize their stuff in your home. When you put your home on the market, it is for the world to see. It no longer becomes yours. Right now, it's your home. It has your personality in it with your things.

And that's perfectly alright for you. But not for potential buyers who are about to take a large mortgage to pay for it. You need to depersonalize it as much as possible. That means removing personal pictures off the wall of your family because we want them to see their family on that wall, not yours.

If the house is overflowing with stuff, Buyers might worry that the house won't have ample space for their belongings. I even suggested that to my son to get a small, inexpensive storage unit just big enough so he could clean out the closets to make them look bigger when he moved. Not only will clearing out clutter help your house look more appealing to buyers, it will also help you once you've accepted an offer and it's time to move into a new home.

Moving out will be easier if some of your stuff is already packed up. You're going to have to pack it anyway so we might as well get started. This also helps when pictures are made. This is one place I am very particular about is pictures because the internet is the very first visual of your home that buyers see today.

I am so disgusted with some of the pictures that I see out there on the internet that some agents put in. I see laundry rooms that are piled high with clothes, detergents on top of the washer, the dryer, brooms. I see all kinds of stuff in these pictures. It just kind of makes me cringe. It's kind of like the fingernail going across the blackboard.

That's the way I feel when I see cluttered up pictures on the internet. But you can't show it like that if you want top dollar. You want top dollar. Some of these pictures don't even make me want to go look. What we want to do is create a feeling of, I cannot wait to get inside to see that home.


Final Thoughts and Farewell to 2024
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Jan: As always, I like to leave you with a little mama wisdom and inspiration, and this week it's super short.

Remember, the key to a happy home is a little love, a lot of laughter, and always listening to your mama. From my family to yours, and I'm gonna get my grandkids in here. Merry Christmas! Happy New Year!

Well, that's a wrap! Follow the show for new episodes every week. Don't forget to leave a review, rating, or comment on your favorite podcast platform. Feel free to send me an email to jan@yourrealestatemama.com. I love hearing your questions and comments, and I'd be happy to help you find a great real estate agent anywhere you live.

Be sure to follow me on Facebook @YourRealEstateMamaPodcast Until next time y'all take care happy house hunting and remember you should always listen to your mama