TV Home Buying & Home Renovation Shows: Fact VS Fiction:

 

 

Hey  Folks I get asked questions about all those HGTV show often and I have to keep reminding them 1. it's not real 2. it's not how it works in the 'real' world and 3. yes you can see more than 3 homes! And they all get this, they really do after we talk a bit.   I wanted to share this great article for one of the country's top mortgage lenders Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi .  It's another MUST READ!!

 

And hey - I watch HGTV too but I know what really works in the real estate world after 30 years of serving our clients!  Call me if you want to talk about buying or selling a Phoenix Area home. Enjoy your day! Anna Banana

TV Home Buying & Home

Renovation Shows: Fact VS Fiction

 

I just read yet another article on TV's home buying/home renovation reality shows.  This one focused on how these TV shows set the tone for real estate trends and expectations consumers have for real estate transactions.

 

Trends ... buyer and seller expectations ... buyer and seller needs.  Each is now uber-sensitive to the barrage of info shared (or not shared) within these shows' scripts. 


Some proof of this lies within "what's hot and what's not" in real estate.  The article I read urges us to think about granite countertops and stainless steel appliances.  These TV shows preach that these features are what buyers want ... demand ... need.  Their repetitiveness and preaching evolve into self-fulfilled prophecy.

As a Mortgage Originator, I'd love to see some info regarding home financing included within these shows on a consistent basis.  Help set trends regarding financing.

To showcase the need for new trendsetting topics featuring mortgage financing on these TV shows ... 

Consider how many times you've seen one of the following scenarios on a TV home buying/home renovation show?

  • Buyer announces their home buying budget ... only to max that budget out or go well beyond it?
  • Buyer says they are "Approved for a Mortgage" up to X dollars ... only to view and subsequently buy a home priced much higher?
  • Buyer shares their renovation budget ... and then breaks that budget by thousands of dollars?
  • Spend X dollars on a renovation ... only to reap a supposed increase in home evaluation (and Appraisal) of X PLUS?
  • Buyers shop for furniture (and more) prior to the finalization and Closing of their home?
  • Make a call to their Originator for info or guidance?
  • Make a call to their Originator prior to spending extra funds or making changes?


See my point?  

By dismissing, eliminating, and avoiding any mention of the repercussions of overspending and renovating beyond set budgets ... expectations and trends are set in the minds of viewers.  

For new home buyers seeking financing or navigating the mortgage process ... as well as those hoping to refinance for renovation and remodeling purposes ... the reality they face within modern financing can then be quite cruel.  

 Get the Facts ... Contact Me Today!

 

What they've come to assume because of what they've seen and heard on the majority of TV home reality shows have led viewers to believe that changes to their financing are easily and quickly accomplished ... additional funds are easily (and always) secured ... and budgets can be overlooked.  When I as their Mortgage Originator must tell them differently, they're stunned or incredulous.  


From that point on, for Originators, it becomes a matter of, "Who are clients going to believe"?  The very visible TV conglomerate with TV stars broadcasting multiple times a day directly into their home?  Or the singular individual Originator on the other end of the phone/text/email telling them things they don't want to hear?  It's a real uphill battle.

I do applaud the Property Brothers, Drew and Jonathan Scott, for recently injecting some financing advice and info into their programs ...  

While minimal and fairly general in nature (and obviously provided as part of a beneficial partnership with a major lender), the Scott brothers through their actions have started to highlight the importance of mortgage financing   (and being educated about it) within home buying and remodeling transactions.

It's a start ...

Fact VS Fiction.  That's the drama playing out in these TV home buying and renovating shows each day.  The trend being created.  And the reality the real estate industry must combat each day ...


* Hoping to Buy or Refinance a home in the Chicagoland area? Contact Me! I'll put my 40 years of Mortgage experience and expertise hard to work on your behalf.
I'm easily found at:

 

Gene Mundt

Mortgage Originator - NMLS #216987 - IL Lic. #031.0006220 - WI License 216987

 
American Portfolio Mortgage Corp.
NMLS #175656
 
Direct: 815.524.2280
Cell or Text: 708.921.6331
eFax: 815.524.2281
 
 

  

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Gene Mundt

 Mortgage Originator  -  NMLS #216987    

                                   IL Lic. #0006220  -  WI License                                                                                                     

NMLS #175656

 

Gene Mundt, Mortgage Originator,  40+ years of #mortgage experience, will offer you exemplary mortgage service and advice when seeking:  #Conventional, #FHA, #VA, #Jumbo, #USDA, and Portfolio Loans in #Chicago and the greater Chicagoland region, including:  The #Lincoln-Way Area, #Will County, (#New Lenox, #Frankfort, #Mokena, #Manhattan, #Joliet, #Shorewood, #Crest Hill, #Plainfield, #Bolingbrook, #Romeoville, #Naperville, #Wilmington, #Peotone, etc.), #DuPage County, the City of Chicago, #Cook County, and elsewhere within IL and Wisconsin. 

 

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Anna "Banana" Kruchten
Designated Broker & Owner
CRS,CRB,GRI


Phoenix Homes For Sale

 

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Your Referrals & Testimonials are Always Greatly Appreciated!

Comment balloon 11 commentsAnna Banana Kruchten CRS,CRB • August 04 2017 07:59PM

Comments

Great post you are right most of these jobs are not reality. Thanks for sharing I hope you have a great weekend.

Posted by Pat Champion, Call the "CHAMPION" for all your real estate needs (Coldwell Banker Camelot Realty) 7 months ago

Anna,  I do not watch those non-reality "reality tv real estate" shows.  People can be so gullible ... and believe just about anything! 

Posted by Kathleen Daniels, San Jose Homes for Sale-Probate & Trust Specialist (KD Realty - 408.972.1822) 7 months ago

Thanks Pat Champion ! Far from it on most of them but I do watch a few. Enjoy your weekend as well!

Posted by Anna Banana Kruchten CRS,CRB, Arizona's Top Banana of Real Estate! (Phoenix Property Shoppe) 7 months ago

Recently a local agent and home and buyer were featured on a HGTV show, it was a real eye opener when I had a conversation about the show with some buyers who watched it and then I showed them the "facts" vs. the show.  

Posted by Tammy Lankford,, Broker GA Lake Sinclair/Eatonton/Milledgeville (Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668) 7 months ago

Kathleen Daniels I know so many think it real and we just have to work with th to see the real picture of their particular market. Thanks for stopping by today!

Posted by Anna Banana Kruchten CRS,CRB, Arizona's Top Banana of Real Estate! (Phoenix Property Shoppe) 7 months ago

Anna, great re-blog. I have clients nearly every week quote something they've heard on a HGTV episode. Sometimes it accurate, and sometimes it's not. I hate to pop their bubble, but they soon learn that everything they see on TV isn't necessarily true. 

Posted by Mike Cooper, Your Winchester, VA Real Estate Sales Pro (Cornerstone Business Group Inc) 7 months ago

Anna, people believe just about anything they see or hear on TV/online. There's one show I watch where they build some of the most amazing pools, can't even remember the name but all the homes are in FL, that's the only one I watch and enjoy it too.
If they saw it on HGTV, must be true..nOT!

Posted by Beth Atalay, Cam Realty of Clermont FL (Cam Realty and Property Management) 7 months ago

Great reblog Anna.  I so agree with Beth Atalay - people believe these shows because they look so convincing and alluring and spend no time thinking about the financial ramifications of these expensive changes.  Thank you Gene Mundt for words of wisdom.

Posted by Joanna Cohlan, Designing, Decorating & Staging Westchester Homes (Fresh Eyes For Your Home) 7 months ago

Excellent re-blog and Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi  wrote a really good article about the nonsense these shows put on the air all the time. I saw tour post on Facebook. 

Posted by Robert Bob Gilbert, Your Katy TX ( West of Houston) Real Estate Expert (Berkshire Hathaway HomeServices Anderson Properties) 7 months ago

Thanks for sharing this post with your readers, Anna Banana Kruchten, CRS ... JMO, but I think these shows really pose a challenge to Lenders, as well as agents.  Hopefully showcasing real vs fiction helps combat that ...

Gene

Posted by Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience (NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656) 7 months ago

Ha ha!!!  They have the public fooled.  Entertaining but certainly not real!

Posted by Belinda Spillman, Colorado Living! (Aspen Lane Real Estate Colorful Colorado) 7 months ago

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