Archives of real estate blog entries for October 12, 2006

Featured blog posts


Predatory Lending and Decadent Spending - 10:50 PM
Yesterday was spent constructing yet another short sale file. A home purchased less than two years ago with 100 percent financing had been refinanced a few months ago with two loans totaling $120,000 more than the original purchase price. I'm sure hefty points were back- ended into the loan, but the buyer pulled enough cash to buy a new car, furniture, and who knows what else--and is in serious arrears (over $50,000) with both loans. Good credit has never been his strong suit.
The home is in a lovely neighborhood and will probably sell fairly quickly--at around $685,000, or what was initially paid for the … (18 comments)

The Big Shakedown....NOT! - 10:32 PM
An agent in my office has been diligently working with a gentleman who is relocating here with a large company.  Although they have not met, the agent has developed a very good rapport.  This coming week they will meet to start the actual home search.
The customer (who is not yet a client) received a telephone call from a THIRD PARTY Company, wanting to set him up with an agent.  He politely told them he already had an agent and would  not be needing their services. The Third Party Representative (who shall now be known as TPR) said, "Great!  Is your agent … (40 comments)

Seizing the Opportunity - 09:46 PM
In all our lives there come times where we know we need to do something but don't. Why is that? If what we are planning to do is going to beneficial then why not do it? Most of the time people sit around and think up great ideas or find themselves in particular situations. In my last post, The First ActiveRain, was a short description of such an opportunity.
The gathering has been in planning for at least a month and a lot of people had time to plan. But when a post saying there may be traffic and a lot of … (12 comments)

The good, the bad, the price reduction! - 04:43 PM
Price reductions. I love ’em and I hate ’em. I seem to have mixed emotions about them. If “The Lovely Wife” is reading this, she will be shocked that I even wrote the word, emotions. Emotions and having them are not my strong suit. Price reductions. I love them, because this is what is needed, to get my properties sold. I hate them, because in my own mind, I am an expert on pricing and should have priced the home properly to begin with.
But you know, in this more difficult market, with rapidly changing property values, I have found myself … (37 comments)

Anecdotes, Quotes and Short Stories to Keep You Focused - 02:43 PM
Staggering Statistics
Business Owners and Service Professionals are increasingly sensitive to providing quality customer service; however, many are ignorant of the devastating effects lousy service produces. The Research Institute of America conducted a study for the Whte House Office of Consumer Affairs. Their findings provide ample fuel businessess apathetic customer service.
The average business will hear nothing from 96 % of unhappy customers.90% who are dissatisfied with the services they receive will not come back or buy again.To make matters worse, each of those unhappy customeers will tell their story to at least 9 other people, and 13% of those former customers relate … (15 comments)

'e-Lenders', When Thieves Compete You Lose - 03:42 PM
 
There is an army of foot soldiers on the other side of these nice web façades banking on your ignorance. DiTech, Lending Tree, e-Loan, Quicken, and a slew of other 'e-Lenders' have created convienient web-sites to exploit and facilitate the deceptive nature and huge revenue streams of the mortgage industry.
Selling inflated rates that pay huge premiums at the expense of the consumer is still the name of the game and these guys are doing it more efficiently than ever.
E-lenders are likely to be much more expensive than a local mortgage brokerage or bank. Most of them are mortgage bankers … (27 comments)

Realtors: How do we get the chance to prove ourselves? - 10:58 AM
I have been doing mortgages for about 5 years now.  I have to admit, realtors have always been and still are the hardest people to get business out of.  It is easier for me to get a loan from John Smith at the local coffee shop and get referrals from him, then to get one single loan from an entire real estate office.
I know I am not alone on this.  Yes, even the best of us get told to hit the road by realtors when we go asking for referrals. 
It is almost like realtors have this invisible barrier of distrust surrounding them when … (43 comments)

Foreclosure Hotline...need help...call now. - 10:19 AM

Denver Colorado Real Estate Issues 
Facing Foreclosure in Colorado?...Call for help
Colorado launched a Foreclosure Hotline this week.  It's purpose is to assist people who are delinquent on the mortgages.  Counselors will act as intermediaries between homeowners and lenders, to work out a game plan, help organize finances, avoid scams, reduce potential liability and possible sell or keep the home.
If you are delinquent on your mortgage payments, please call for help.  The number is 1-877-601-HOPE (4673).
Irony in action
The Foreclosure Hotline is expected to cost $300,000- $500,000 over the next two years.  It is being funded in part, by the Division of Housing.  Additionally the Attorney … (19 comments)

MYTH: Meta tags and keywords don’t matter - 07:01 AM
On another technical real estate blog, I saw an “SEO professional” telling someone that meta tags and keywords don’t matter because Google doesn’t read them.  Ouch, it aches, it burns, I taste pennies, my little technobitionist heart is failing…   Needless to say, I strongly disagree with this statement.  Therefore, this is a geeks guide to why meta tags and keyword tags specifically matter to the proper SEO of your website.  To learn more about SEO and keyword selection, visit my blog: RSSPieces
Why the myth exists
Originally, meta tags were used to help search engines organize the web by listing keywords and … (21 comments)

Contract Phrases to protect your Client - 09:30 AM
Depending on market conditions, sometimes there is an ability as a Buyer Agent to include wording that requires the Seller to better ensure working order condition in different parts of the property that may not be covered by other provisions of the sales contract. The normal wording already included states to the effect that, as of the day of closing all utilities, heating, cooling, plumbing and electrical systems and all appliances shall be in “normal operating condition.” That last phrase has certainly generated some heated discussions, but has served us well over the years.
Beyond that above, a problem area that … (6 comments)

Your Brand is an Asset. Treat it Accordingly. - 01:13 AM
(This is a condensed and edited version of an article I wrote a few years ago for the Northwest Entrepreneur Network’s online magazine.)
1. Don’t Create Obstacles!
Unless you have very deep pockets and plenty of time, don’t create a complicated brand name. Make sure it’s easy to pronounce. (With a last name like Ade - pronounced AH-Day - I should know.) If possible, choose a name with meaning. It will make your brand more memorable.
2. Stand Out in the Crowd!
By our very nature, we can see long before we can read, so it is of great advantage if the … (8 comments)

When Is It time to Call your Buyer's Hand? - 10:24 AM
I know this is not a new issue but I just went through it and I was curious about others who had had similar cirumstances.  The story goes like this.... Approxiamtely 3 months ago I was contacted by a Buyer who wished to purchase at least one half acre lot on the mainland.  It had to be in a development, it had to be treed, the community had to be gated, with curb/gutter, under $75K and of course with covenants.  He wanted to make this purchase prior to the end of the fourth quarter for taxes purposes.  I had been introduced to this Buyer through a client with whom … (16 comments)

Who wants to be a Millionaire? - 01:59 PM
No this has nothing to do with the TV show or playing the lottery. 
The book Millionaire Real Estate Agent by Gary Keller is the topic of discussion. My post "Planning is great, but you need your goals first" made me start thinking about what I am hoping to achieve not only next year, but 3, 5, 7, and 10 years out. The first thing I did was pull out my Millionaire book and started reading it yet again.
You see I am trying to move our team to the "Earn a Million" phase of the business. Then the next step which is … (39 comments)


Blog posts


Your Brand is an Asset. Treat it Accordingly. - 01:13 AM
(This is a condensed and edited version of an article I wrote a few years ago for the Northwest Entrepreneur Network’s online magazine.)
1. Don’t Create Obstacles!
Unless you have very deep pockets and plenty of time, don’t create a complicated brand name. Make sure it’s easy to pronounce. (With a last name like Ade - pronounced AH-Day - I should know.) If possible, choose a name with meaning. It will make your brand more memorable.
2. Stand Out in the Crowd!
By our very nature, we can see long before we can read, so it is of great advantage if the … (8 comments)

The Realtor® Trademark Problem - 01:35 AM
In a recent blog, Jim Lee addressed the use of the “R” word as it relates to the WWW and domain names. It reminded me again that the Realtor® trademark is a flawed creation. Let me explain.
Blow your nose with a…
If the maker of your facial tissues is Kimberly-Clarke Corporation it will say on the box “Kleenex® brand tissue.” On the part of company’s website - “Our Brands” you’ll see that Kimberly-Clark describes itself as *“A Company of Household Names.” One of these names (brands) is Kleenex.
Kleenex® brand tissue.
Kleenex is the trademark (It’s the Kleenex brand.). … (6 comments)

Home owner associations: careless meeting notes can reduce property values. - 01:44 AM
Yesterday I closed on my first transaction outside the MLS. I represented the seller (absentee owner) and another licensed agent represented the buyer. The buyer had taken care of the condo while it was rented. One reason the closing was delayed was that the condo complex was self-managed by the Home Owners Association. In such instances, the responsible individuals are difficult to reach and documents more difficult to obtain. After all, these people are volunteers.
Another task for the self-managed associations and their boards is to meet quarterly and prepare official meeting notes.
The duty to take notes at board … (3 comments)

WORK HELPS TO KEEP ME FROM OBSESSING ABOUT MY SICK GRANDSON - 10:10 PM
 
My eight month old grandson had been running a fever for over 20 days and now has been in Seattle Children's Hospital for three days.  The doctors have finally figured out what the problem was and he is rapidly getting back to normal.  He had had a virus and became weakened by it, and then caught one of the "super bugs."   He is now on "super drugs" and doing quite well. 
I am very thankful that I had clients to keep me busy and focus on.  The poor parents had to go through all that time of not knowing and … (2 comments)

HOW MUCH DO YOU GET FOR SHOWING PROPERTIES FOR ANOTHER AGENT? - 11:13 PM

I received a call this evening from an agent in my office asking if I could help with a "high-end" client that will be coming to town on this coming weekend.  This agent has been working with the client and there are some listings that she wants to see.  The agent has to be out of town and wanted to know if I can handle this for him.  I said I would be available and agreed to take care of his client.  He asked me how much commission I wanted for this and he said the broker said I should get … (11 comments)

HOW DID LAST NIGHT'S ACTIVE RAIN "GET-TOGETHER" TURN OUT? (This is a repost) - 11:26 PM

I haven't seen anything on it yet.  I hope it had a good turn out.  Is there any important information you can pass on to all of the rest of us that missed it.  I was doing volunteer work serving spaghetti dinners at the Wallingford Senior Center in Seattle--it would have been a great place to have it (we could have used the business).
Please visit my site for information and support.  Seattle, Washington Real Estate Property Listings. 
… (2 comments)

Angel of Hope - 08:49 PM
Maple Grove is home to one of only 50 Angel of Hope stautues.  Located in the Arboretum this Christmas Box Angel of Hope is a gathering place for parents grieving the loss of a child of any age.  It is inspired by the best selling book and television movie "The Christmas Box" by Richard Paul Evans.  Each year on December 6th at 7:00PM a simple secular candlelight memorial is held at the Angel of Hope Statue.  Candles are provided and attendees are welcome to leave a white flower in memory of a loved one. 
… (3 comments)

Being Business Friendly in Business Blogging - 02:09 PM
During a recent conversation with Shane from RealEstateCoach.com we were talking about the level opf personal content that should be 'permitted' in business blogging.
We got a good laugh talking about people that use their business blog as a personal diary... as if people care.
Anyhow, to read the short article inspired by our conversation, and to add your 2 cents - do so by clicking here: 
… (12 comments)

Who wants to be a Millionaire? - 01:59 PM
No this has nothing to do with the TV show or playing the lottery. 
The book Millionaire Real Estate Agent by Gary Keller is the topic of discussion. My post "Planning is great, but you need your goals first" made me start thinking about what I am hoping to achieve not only next year, but 3, 5, 7, and 10 years out. The first thing I did was pull out my Millionaire book and started reading it yet again.
You see I am trying to move our team to the "Earn a Million" phase of the business. Then the next step which is … (39 comments)

SEO: Do link exchanges help your rankings? - 02:21 PM
hmmm...I have debated writing about this many times, but each time decided not to. There are some SEO's that swear by link exchanges, some that swear it doesn't work anymore, and others that feel it will work today...but get you in trouble later.Those that swear by link exchanges many times are the same one that offer a service to exchange links for you. They will charge you hundreds of dollars to find link exchange partners for you and claim it will boost your rankings.Those that swear it doesn't work many times will quote Matt Cutts or other search engine employees that … (23 comments)

Remodeling woes - 05:39 PM
After some procrastination, we are finally having our master bathroom remodeled. So far most of the demolition has been completed, with the final remnants of the old shower needing to be removed.  Most of the experts seem to agree that only two areas of your house once remodeled will actually improve your resale value: the kitchen and the bathroom(s). Which is yet another reason we are having it done.
Has anyone found that not to be true?  We've been in the same neighborhood now for 11 years and love it, but some of our neighbors aren't taking care of their property … (5 comments)

What consumers are really thinking - 05:57 PM
I was surfing and stumbled across a very interesting article from AP. It was about a poll that was conducted asking consumers about real estate.  Specifically the questions asked concerned home prices, decision factors and online home shopping.  I'm sure that most of you are familiar with the numbers released from the NAR concerned the percentage of consumers that search online for a home.  According to the Associated Press poll, 53%  of buyers used the internet to search for a home.  When asked what was most important in their search, photos came out to be the most important item, by only 19%.  Search features … (1 comments)

Chicken Little Syndrome - 06:34 PM
Despite some many positive things happening in the real estate market, it seems that the media can't get a handle on it. Then I realized its not their fault.....they have chicken little syndrome "real estate values are falling, the bubble is bursting!!!!". So then I decided to check to see if that's actually true and here's what I found.
Curry County Oregon is reporting increase in property values of at least 22% or more in areas all over the county. Fredericksburg, Virginia also showed property values have increased. Back in 2002, UCLA's research center stated Las Vegas homes were overpriced by 30% … (4 comments)

Seawinds Market Update - October 2006 - 09:10 AM
Since my September Update, there has been one change in inventory, a listing expired without being sold.  Currently there are 7 properties on the market in this building with an average list price of $809,043.
Not bad to purchase a two bedroom condo on the beach in a building built in 1983!  Pool, Tennis and the beautiful Gulf of Mexico to look at from your balcony!   Our office has one listed for $884,400, to check it out visit the Visual Tour.
There are countless stories of people that come here year after year stunned at the tremendous growth and are quiet upset that they missed their opportunity.  … (0 comments)

Mirage on the Gulf - Market Update October 2006 - 09:27 AM
Since my September update on this condo, there has been a closing, bringing the total for this year to 4 brining the average sold price in this building to $1,008,750.
There are 5 active properties in this building for sale with an average list price of $1,205,000, but that is unfairly balanced as one of these is a penthouse unit, when you take that out of the equation, the average list price for $1,107,500.  The least expensive listed unit at this time is listed for $985,000 furnished with over 2,100 sf of living space with 4 bedrooms and 3 baths!
There are countless … (0 comments)

Training Wheels - 06:55 PM
I found these two photos I took of my son a few years ago, which I did for a newsletter for the Data warhousing company that I worked for at the time.  The photos were to illustrate a point that you don't start out on the big bike, you start out on the bike with training wheels and then you grow into the big bike.  The article was about picking the right tools for the job at hand. 
When I looked at them this evening as I was writing about my son (which follows) I had a huge aha moment and … (8 comments)

Click Fraud and it's effects on our Marketing Efforts - 10:00 AM
This topic may have already been addressed on AR but I thought it may be a good idea to ask for a fresh perspective from fellow AR members...
What are your thoughts on the future of PPC advertising?
Has anyone been a victim of click fraud?
What are some of ya'lls budgets for Google, Overture and the like?
I read a few blogs this morning and came across Bill Thomas' blog on AdSense and how web publishers can make a few extra bucks per month by inserting Google's java script AdSense code on thier sites, and receiving revenues for a legitimite click action. Although it's … (3 comments)

If you want it, I can find it..........!! - 02:11 PM
One my slogans is "If you want it, I can find it"
I'm wondering if I should rethink this and add something else,
like If you can afford it......
Why is it, that buyers call a Realtor with absolutely no clue to what they can afford or where the money will come from.
Why is it that since they haven't worked for over 6 months and their Landlord is throwing them out, they think, "I'm buying my own house"!
I am starting to think that we, as Realtors, may promise a bit too much. We say we can find the dream home, help with finding … (9 comments)

Poor Credit Home Loans - 01:54 PM
A "bad credit home loan" is a loan that one can get despite having a poor credit rating. Many lenders offer a bad credit home loan knowing fully that their loan is secure, since it is taken on mortgage of your home.
A bad credit home loan is an instrument of opportunity for those who have a poor credit rating and would like restructure their debt and start on the road to good credit building. By availing yourself of a bad credit home loan you can lower your monthly payments by consolidating all your debts and also enjoy a lower interest rate … (0 comments)

Interest Only Home Loans - 02:01 PM
An interest-only loan has become a very popular choice of the many Washington home loans that are available.  What is making this type of loan so popular?  What other options are available to potential Washington home buyers.
If you have a desire for a lower initial monthly payment, lower payments over shorter period of time, the possibility that if rates improve your rates could go down giving you lower payments, the fact you may qualify for even an even higher loan amount which would allow you to purchase a larger house than originally you thought this may be an option you should … (1 comments)

Related links

New Members for 2006-10-12

 Archives:

31 Oct
30 Oct
29 Oct
28 Oct
27 Oct
26 Oct
25 Oct
24 Oct
23 Oct
22 Oct
21 Oct
20 Oct
19 Oct
18 Oct
17 Oct
16 Oct
15 Oct
14 Oct
13 Oct
12 Oct
11 Oct
10 Oct
9 Oct
8 Oct
7 Oct
6 Oct
5 Oct
4 Oct
3 Oct
2 Oct
1 Oct
September 2006
August 2006