How Pinecone Lending Came Through with Listing Solutions that Saved a Transaction

Karen Malanga: Hi, welcome to House Talk. This is Karen Malanga. I’m the owner of Pinecone Lending and Listing Solutions. And I’m here today with Joel Salmond. And he is one of the top brokers at our local Windermere office here in Bend.

And Joel, you recently used my problem-solving product…

Joel Salmond: Yes, I did!

Karen Malanga: And i thought you could tell people about the experience. What was the problem that you had that we helped you fixed? If you could just tell that story, I’d appreciate it.

Joel Salmond: Yeah! So, with Pinecone Lending, it was the perfect timing for a listing that we had over at our Windermere office. And this home, there was a really big leak that was discovered many years after. I mean, it was like from the original construction of the home.

Karen Malanga: Well, that’s perfect for Pinecone Listing Solutions, right?

Joel Salmond: Man, the cost of bids were just kind of piling up on him. How do we fix this?

And so, as we came in and just were learning all of the things that were needed to get updated, we went, “Well, this could be a perfect solution for your program.” You could come in, and one, totally mitigate everything that was wrong, re-build the bathroom. And then, on top of that, while it was a clean slate, we had Cascade Design Center in Bend who do lovely work completely re-do the bathroom.

So, to take something that was really just in rough shape, and then go above and beyond, rather than just kind of a quick fix, to be able to have those little bit of extra funds—and this gal had lots of equity in her home, so it was kind of a perfect solution of the bills kept piling up on what it would take, but to have this program that could lend some money until closing, was just a perfect match!

We closed a week ago. And the new buyers were stoked! And it was just kind of a perfect marriage!

Karen Malanga: Yeah, thank you so much! And it was fun being a part of that too because as I was writing the checks to all the different contractors that you had at that, well, this job was even more extensive than I had imagined.

And also, Dave had mentioned to me when he walked up to his initial listing appointment, he thought, “Oh, this home could be worth”—and I’m just going to pull a number out, and this probably isn’t right—“like $550k.” And then, when he walked inside and learned about the leak, he thought, “Ooh, I’m looking at $350. How can we help this woman get the money that she should be getting for this home and help it sell more easily?”

So, it was a perfect solution.

Joel Salmond: Totally!

Karen Malanga: Yeah, thank you. So Joel, do you wish you would’ve had Pinecone Lending in the past? Have you ever ran into a problem like this before?

Joel Salmond: Not to this extent. Any remodel product, as you know, selling the billion homes that you have, as soon as you open up that wall, or as soon as you get behind something, there’s always more extensive…

Karen Malanga: …something more.

Joel Salmond: …repairs to be done.

Karen Malanga: Yeah!

Joel Salmond: So, I think all of us have experienced that where we’re going, “Oh, man! It might have been a minor fix, and then it becomes a little bit more of a major fix.” Luckily, there’s so many great contractors out there that are willing to get in… and not all of them do it in the timeliest manner.

Karen Malanga: Nah!

Joel Salmond: But there are guys and gals out there that are great local professionals that we have.

So yes, I would definitely say this listing solution—ours was a much bigger project. But you’ve mentioned too where it could be as small as a roof. I feel like, especially as we get to homes that are 18 to 20 years old…

Karen Malanga: Exactly!

Joel Salmond: …we’re starting to see that a lot in some of these neighborhoods. And so, as they’re getting called out, what if we did a pre-home inspection before the listing? And then go, “Okay, maybe there’s not cash there, but we could call Karen and her crew at Pinecone.”

Karen Malanga: Thank you.

Joel Salmond: I think the industry needs to know about it because it’s a great option.

Karen Malanga: Well, Joel, thank you so much for being here at House Talk. And also, I think the world needs to know about you because you’re a great real estate broker here in Central Oregon. So, why don’t you just tell the audience how to reach you?

Joel Salmond: Well, my phone number is the best way. I can be reached at 541-639-7916. Or you’ll see me out at local events. I like to be involved and maybe get a malted beverage at [unclear 05:03] or something like that. If you run into me, don’t hesitate to come and say hi! I have aerodynamic hair and a pretty recognizable face. My phone number is the best! I love working here and I love the industry.