Welcome to Ask the Colorado Dream House Team with Dan Polimino! Today, we’re doing a charity spotlight on #CoatsForCO as we collect coats for those less fortunate.
✅ Cybercrime relating to home purchases
✅ Should you take your home off the market for the holidays?
✅ If I don’t sell my home by Thanksgiving, when is the next best opportunity for me to sell?
00:02 Hi everyone and welcome to today's edition of Ask the Colorado Dream House Team. I'm your host Dan Polomino coming to you live from Denver Colorado. Oh well it's Halloween. Happy Halloween everybody hope you're safe and enjoy yourself. Handing out candy or collecting candy tonight or just dressing up and go into a party. One of the things I'm going to tell you about today is more than spooky. It's terrifying. So hang on for that. But again welcome to the show if you're new we talk about everything that is real estate. So if you're looking to buy sell or invest in real estate you don't have to be in Denver Colorado all of the information we give you here today you can use anywhere in the country and if you'd like to leave a comment or ask us a question you can do it right here on Facebook.
00:48 You can e-mail us at Team Colorado Dreamhouse dot com or feel free to call us 7 2 0 4 4 6 6 3 2 5 and if we can help you buy sell or invest in real estate we would love to do it. Two things we like to accomplish and each show we like to give you some market information that you can use and we like to answer your questions so let's get to today's spooky Halloween edition. Market information and it goes like this cyber crime. We hear about it all the time. It's in the news every day. Just about a month or so ago we were all talking about the Equifax breach. Question is how does cyber crime affect you as a potential homeowner. Well the biggest area that we're seen in cyber crime scams is in the most vulnerable people are people who are currently in a home purchase.
01:47 You're under contract on a home. And you're in the transaction. And what's going on is that hackers are getting into Titan companies. They're getting into an escrow officers e-mail. They're getting into a mortgage lenders e-mail. And then what they're doing is they're sending the home buyer an e-mail to make it look like it's coming from the escrow company or from the mortgage lender. And in that e-mail they're giving you the buyer instructions wire instructions on where to send your money for cash to close if they get into a title company and they get into an escrow officer's e-mail and computer. They can see all of the files and transactions that that escrow officer is working on. They can see who the buyers are. They can see the purchase price. They can see the close date and then they start sending e-mails again looking like the e-mail is coming from your escrow officer and it might say something to the effect of Mr. Mrs. Smith congratulations on your closing.
02:52 Coming up on November 9th here are the wire instructions for closing. And of course the wire instructions goes to the hackers account.
03:03 And we're seeing more and more of this in fact there was a couple here in Denver that were buying a five hundred and nine thousand dollar home and got one of these e-mails they had sold their home and they were taking the proceeds from their home and they were using it to purchase the new home and they wired in 270 dollars to a fake account to account. That was the thieves and they have yet to recover the money. So the question is how do you protect yourself. And the answer is simply this. When you get these wire instructions first thing to do is to call the person on the e-mail and verify that they did send you wire instructions and the wire instructions that they sent are correct. Now if it's one of these thieves or hackers you're not going to they're not going to give you their phone number you're not going to get them.
03:55 Right. So if you can't get the escrow officer or you can't confirm with them the wire instructions are legitimate then don't do it. OK. There's also a thing called the fraud kill chain. All right. Now this is something from the FBI. It's called the fraud kill chain. And if you suspect that you've wired money into a fraudulent account you've got to figure that out in the first 72 hours. If you figure it out in the first 72 hours call the FBI immediately and they can put into effect what they call the fraud kill chain and they can stop the wire. Even if it went through the bank then can request the wire to be rescinded and the money returned. But if it happens outside of 72 hours the FBI won't be able to help.
04:50 All right. I hope that helps you. It is really scary. And and so you just got to protect yourself the questions dear Colorado Dreamhouse team does it make any sense to take our home off the market for the holidays. Well we're getting into that time of year where these questions are going to keep coming. And we've answered a couple over the last couple of weeks. The answer is do you want to sell your house or do you need to sell your house if you need to sell your house then you're going to want to keep your home on the market over the holidays. And here's the one piece of comfort that I can give you. Sure it's going to be a pain and sure somebody is going to call when it Bettie's visiting from out of town and they're going to want to see the house but but if somebody calls to see your home during the month of November and December they're not a casual buyer they're not a looky Lou.
05:43 They're not looking for something to do on a Saturday. Most likely they are a serious buyer. They're probably pre-qualified and ready to write an offer. So I'll leave the decision up to you do you need to sell your house or do you want to sell your house. And if it's just a want and you're OK with taking it off for 45 days and bringing it back on after the first of the year. By all means do it. Dear Colorado dream house team. If I don't sell my home by Thanksgiving what would be the next best opportunity to sell. Well that's right after New Year's.
06:17 We have what I call the New Year's holiday hangover. So I usually wait about a week after New Year's Eve and then I start getting my clients properties either back on the market or listing properties for the first time right in mid-January. OK. And you know really the the market will pick up again right after right after New Year's Eve. It'll get robust again even though it's the middle of winter. The color of a dream house team what are your thoughts about selling your home during the winter months in Colorado. Yeah January February March snow cold all happening in Denver and again if buyers are out looking in those months they're probably not casual they're probably serious. The one thing I would say that I've noticed over the last few years is for a long long time the spring selling season started on April 1st.
07:11 That was kind of the unofficial start and then it kind of moved up into March and then we were saying well you really got to be on the market by the second or third week of March. But even last year we noticed the market was red hot in the middle of February like we were really prepared for how active the market was in the middle of February. And so what I've seen is that this this start to the selling season keeps creeping up keeps getting earlier and earlier and earlier. So don't discount putting your home on the market in January or February. There's not going to be a lot of homes on the market and if yours is a great house you're really going to stand out and you're probably going to get your price. All right. So if that's you and we need to talk. Give us a call at 7 2 0 4 4 6 6 3 2 5.
08:01 All right. Last thing I want to leave you with today is that we here at the Colorado Dreamhouse team liked to give back to the community. So once a year we do a charity drive here on the team and this year we're teaming up with coats for Colorado. All right we're trying to collect winter coats gently used or new and we're collecting them from all of our clients and our friends and our vendors and our neighbors and we got to get them here to our office. Sixty three hundred South Syracuse way by November 15th. We're going to see how many we can collect. Actually all of us on the team were actually driving to our clients house and picking them up. If you can't get them in. So if you want to join us and donate some coats for Colorado. By all means visit our Web site get more information come to our office drop coats off.
08:51 We would love all the help and the more codes we can get and raise the better. All right. So join us. That's it for this week. I hope it was informative and you learned something. And again we'd love to talk with you. Everybody have a great week.