Archives of real estate blog entries for October 26, 2006

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Why are all Realtors CMA's different?............................... - 07:11 PM

After reading about the latest Zillow problems it occurred to me that it's not just Zillow that has a wide range of prices for the same property, but we, as Realtors do also.
I had a first hand instance of this last year when my parents asked me to get CMA's from different Realtor's for their vacation houses.
Out of six Companies, the range was from $400,000. to $1,200,000,!     How is the average Seller supposed to choose from such a wide variation?
If we all use the MLS and we all use style, square footage, lot size, number of beds and baths and … (42 comments)

Its All Alan Greenspan's Fault - 07:25 PM
Ok I’ve had just about enough of this. This article in USA Today has just about pushed me over the edge. It’s no secret the housing market is in a long anticipated glut. The media is pulling no punches in helping cause widespread panic in the housing industry which brings me to my point.
In every financial market there is what is called a cycle. Every economist knows this and after a little self education, I have learned to accept this as a vital part of the capitalistic system we live in. What really drives me nuts is the perception that … (23 comments)

Come one, come all to the greatest show on earth! - 06:06 PM
Ok, I guess I am on a roll this week when it comes to dealing with clueless Realtors. Not that this is anything new, it just seems that I have had a whole bunch of them this week. So, I’ve been thinking. Why is it that so many Realtors are clueless? They’ve all been through very intense (joke) Florida licensing requirements and passed a very difficult (more joking) 100 question multiple choice test. They’ve also jumped through all the bureaucracy at the Board of Realtors (wrote a check) and have had numerous training sessions with their Broker on how to complete … (33 comments)

A Great Realtor must be a Great Teacher - 11:12 AM
As REALTORS® we spend a large amount of time educating consumers.  We talk about current market conditions at open houses and with friends, we educate our clients on their rights, and the home buying/selling process, we constantly challenge national information broadcasted by the media because it likely isn’t true for what is happening in the local market where we live and work.  So, logic would follow if I want to become a GREAT REALTOR®, I need to be a great teacher. 
I’ve reviewed some studies that examine what makes a great teacher from the student’s perspective. While these studies were not … (20 comments)

Does your website or blog need Prozac? How to avoid the bipolar blog. - 09:36 AM
Avoiding the bipolar website and blog Does your website or blog need Prozac? Does your site ramble on and on touching on everything from phone cards to razor blades and eventually getting around to your listings, local information and maybe somewhere in there what a great agent you are? If so, here is a valuable prescription for your site.
Quality Content is king in the world of SEO.
When you are writing for the web, you must stay focused and on-topic, if you stray too far from the intended theme of an article, you will devalue your content to search … (41 comments)

Broken ARM? Should've watched your Step... - 01:50 PM
There has been quite a bit of material written about the sinister mortgage programs called Option ARM's, or fixed payment mortgages. Dangerous, Predatory, Deceptive, ______ fill in the blank with your "watch out!" comment of choice. The general consensus on how these programs hurt borrowers is getting to be a little much and beginning to bother me.
Option ARM's (and other fixed payment mortgages) are fantastic if implemented correctly. There is plenty of literature out there on how Option ARM's work, calculators, the negative amortization ability etc.
For this post, we shall concentrate solely on the Interest Only (IO) Payment Option … (16 comments)

Zillow Gets Zinged - 01:26 PM
A consumer protection complaint has just been filed with the FTC against Zillow by the National Community Reinvestment Coalition (NCRC). They allege that Zillow, the "Internet financial services and real estate provider(sic) is misleading consumers, real estate professionals and financial service providers in online home valuations."
Uh oh....they go on to charge that:
"Zillow is placing the American dream of homeownership at risk for countless working families," says John Taylor, NCRC President and CEO. "For a company that represents to consumers that they are the 'Kelley Blue Book of Homes,' this is a very dangerous situation. We call upon the FTC to intervene and ensure that Americans receive accurate … (58 comments)

Scrape or Pop the top ~ Denver real estate - 10:50 AM
City dwellers love their neighborhoods and are willing to pay the expense to tailor their old homes to fit their current needs.  If a homeowner has a home with a large enough "footprint" in a good neighborhood, then popping the top might be the solution.
Expenses of such renovation are seldom accurately predicted, due to factors unknown.  Most families end up moving out of the home while the construction is underway.  Depending on the speed of the contractor and the amount of work needed, renovations could take 6 months to a year.  Costs are into 6 figures.
The end result is usually very … (8 comments)

Costume Contest! - 02:50 AM
Let's have a party!
An on-line party that is. Charles Richey suggested this and it looks like many of you agree. 
We're holding a costume contest right here on this post.  We're looking for the best Halloween Costumes in The ActiveRain Community.  Let's see those photo's folks.  Matt and I will be judges for the competition for the best costume.  Please submit your entry by October 31st.  The winner will receive 300 points.  Your party suggestions are welcomed.
Update:  The party is at Charles and Jaqulyn's Place.
(62 comments)

ActiveRain meeting NAR New Orleans - Sat. Nov 11th, 8:00 am - 03:05 PM
Thanks to Teri Isner for helping organize.  We are going to have an informal meeting of ActiveRain members down at the NAR conference in New Orleans.  This will give us a chance to actually meet in person instead of simply via the Internet.  All of break out sessions on Saturday start at 9:00, so an hour before that at 8:00 am is an optimal time.  As Teri pointed out there should be plenty of open tables at or next to the International Room. 
Time: Saturday, Nov. 11th, 8:00 am
Location: International Room, near trade show floor
Related posts:
NAR UPDATE for Active Rain
NAR … (8 comments)

When Listing in MLS, Do You Cut Corners? Please Don't! - 03:08 PM
This morning I searched for homes for my Buyer on our NORMLS system. What homes did I choose to send to them? The ones that were presented the best by the listing agents who entered the information. It amazes me what information can be missing when I look at listings. Why is this bad? Two reasons!
1. It doesn't do their sellers' justice and doesn't present the home in the best possible light. In a competitive market (okay, in ANY market), why would an agent want to give their sellers a reason to be dissatisfied with their services?
2. Did ya know it's a buyers market? … (75 comments)


Blog posts


Costume Contest! - 02:50 AM
Let's have a party!
An on-line party that is. Charles Richey suggested this and it looks like many of you agree. 
We're holding a costume contest right here on this post.  We're looking for the best Halloween Costumes in The ActiveRain Community.  Let's see those photo's folks.  Matt and I will be judges for the competition for the best costume.  Please submit your entry by October 31st.  The winner will receive 300 points.  Your party suggestions are welcomed.
Update:  The party is at Charles and Jaqulyn's Place.
(62 comments)

ActiveRain meeting NAR New Orleans - Sat. Nov 11th, 8:00 am - 03:05 PM
Thanks to Teri Isner for helping organize.  We are going to have an informal meeting of ActiveRain members down at the NAR conference in New Orleans.  This will give us a chance to actually meet in person instead of simply via the Internet.  All of break out sessions on Saturday start at 9:00, so an hour before that at 8:00 am is an optimal time.  As Teri pointed out there should be plenty of open tables at or next to the International Room. 
Time: Saturday, Nov. 11th, 8:00 am
Location: International Room, near trade show floor
Related posts:
NAR UPDATE for Active Rain
NAR … (8 comments)

Twin Cities Housing Market Update - 09:43 AM
According to an article in todays StarTribune the Twin Cities market continues its slowdown but seems to be faring better than other parts of the country.  We are still on pace to have the thrid best sales year ever.  With the interest rates remaining low and high employment we will not see the lows that other parts of the country will have. 
This is good news!  There are great bargains out there for buyers right now.  Check out the full article in the attached link:
http://www.startribune.com/417/story/767021.html
(1 comments)

Buyers Market - 02:00 PM
Here are some things that Buyers in the marketplace now should be thankful for:
You won't have to pay over market value for a home
You shouldn't have to compete with multiple offers
You'll have lots of homes to look at
You might get more concessions for repairs or closing costs help 
You can still get a great interest rate
So what are you waiting for?
(3 comments)

Decorated Virtual Pumpkin - 10:48 PM
 Teresa Boardman created a challenge on her blog to decorate a virtual pumpkin.  No I did not have a three year old do this for me!  I am actual that inept at using the brush on the paint program.  So now I have a new apprciation for the term starving artist cause if I had to do this for a living that's exactly what I'd be. 
(1 comments)

Point 2 Directory - 06:04 PM
Point2 just announced a new member directory that is integrated into Point2’s consumer real estate search portal, Point2Homes.com. For those you not familiar with Point2homes, they are a huge real estate website template provider.  Several high profile members here have a point2 website, like Jay and Francy Thompson who are also a licensed reseller of them if I'm not mistaken. You can see his listing here http://homes.point2.com/Agent/US/Arizona.aspx about the middle of the page, along with the neighborhoods they service.  Like Active Rain, the directory uses location targeting and will display the featured realtors for your specific area. There is also a link to … (1 comments)

What Is The Donald Really Worth? - 09:17 AM
Galen over at Rain City Guide, posted this link in a comment to  Ardell. I thought it was interesting enough to pass on here.
This is a rather lengthy article in the New York Times that asks What is Donald Trump really worth?
Might it be that there are some "acounting irregularities" in the Donald's balance sheet?
 
(1 comments)

Rivergreen Subdivision in Canton, GA to Hold Haunted House - 12:48 PM
Come one, come all...prepare to be spooked! 
Rivergreen Haunted HouseSaturday, October 28th at the Summer Club"Silly House" for kids: 6:30-7:15pm Lights on, no masks, candy - $2 admission "Haunted House" starts at 8:00pm $2 admission, $1 re-entry Proceeds go to MUST Ministries Food Drive
-James
Rivergreen in Canton, GA
(0 comments)

Young Chef's Academy in Canton, GA Now Open! - 01:00 PM
Young Chef's Academy - 3753 Marietta Highway, Suite 145 Canton, GA 30114
My four year old daughter (Olivia) loves coming here on Thursday's...Many thanks to Jennifer & Joel DeYoung for opening up a great place for kids to go!
BAM! Kick it up a notch!
-James
Canton, GA Real Estate
(0 comments)

Do you take your ActiveRain Posts with or without pics? - 02:20 PM
Seems to be a pretty good blend of posts with and without pictures added to them. I'm a non picture blog reader personally, I think pics are good for advertising listings.
Is the ability to upload any picture from your hardrive what makes ActiveRain so much better than other RE Blogging communities I've seen out there?
I really wonder though, if it helps us or hurts us?
At what point are Matt and Caleb gonna say..."ok, that's way to much extra storage space on the servers we needed in October for all those silly Halloween pictures, we're gonna have to cut back on the amount of pics … (2 comments)

On-site Agents...Not-so-good news... - 02:41 PM
Not sure how many on-site agents we have here in the network, but USA Today published an interesting article earlier today about the decline in new home prices (almost 10% since 2005, the biggest drop in 35 years).
-James
Alpharetta Real Estate
(2 comments)

Are you really taking a loss? Pricing a home in today's market. - 04:10 PM
As many of you know, homes are sitting on the market longer.  More people are experiencing their listings expire or being on the market for a year or more.  To combat that, I and other Realtors®. ask for sellers to consider the low end of a suggested listing price or a price reduction.  So often that idea is met with resistance to our suggestion.  I understand the many reasons that it sounds like such an unthnkable request but I'd like to explore some other variables with you.  Please, stay with me on this one.
Now if you do not have to sell your home, this may not … (0 comments)

Why are all Realtors CMA's different?............................... - 07:11 PM

After reading about the latest Zillow problems it occurred to me that it's not just Zillow that has a wide range of prices for the same property, but we, as Realtors do also.
I had a first hand instance of this last year when my parents asked me to get CMA's from different Realtor's for their vacation houses.
Out of six Companies, the range was from $400,000. to $1,200,000,!     How is the average Seller supposed to choose from such a wide variation?
If we all use the MLS and we all use style, square footage, lot size, number of beds and baths and … (42 comments)

For Sale By Owner - 12:14 PM
  You Can Do It Yourself…
And I Would Like To Help.
I am not a Real Estate Agent and I am not contacting you about listing your home.
Actually, I am a mortgage professional, and I would like to help you sell your home without the assistance of a Real Estate Agent.  With your permission, and at no cost to you, I’d like to provide home mortgage information to prospective buyers of your home.
My goal is to earn the business of the eventual buyer, through competitive interest rates and a swift, professional mortgage service.  In addition, I would like to provide you with … (0 comments)

What is an 80/20? - 12:19 PM
80-20 Mortgage Loan Programs
Home and condo values have escalated in recent years and home buyers are looking for alternative programs to increase their purchasing power and keep their monthly mortgage payment as low as possible. The 80-20 30 Year Fixed and Interest Only mortgage loan programs have grown tremendously in popularity because they are designed to help you qualify for more home, keep your monthly mortgage payment low, and to avoid PMI (Private Mortgage Insurance) which is insurance designed to protect the lender from individuals who default on their loans and who have less than 20 percent equity in their property. … (1 comments)

RENT or BUY? - 12:22 PM
  Affordable?
Great Time for Buyers.
Record low interest rates make now an affordable time to enter the market.  In some cases it’s possible to receive a loan for 100% of the purchase price with 0% down!
The Investment
Build Up Equity.
Homeowner tax advantages… Interest & Property taxes are DEDUCTIBLE… as well as payments to principal put money back in your pocket.  Money spent on rent is just… GONE.
The Dream
Start Small.
It might not be your dream home, but smaller houses typically appreciate considerably faster… about 20% more than larger ones.  It’s an advantage to become a homeowner sooner rather than later.
(0 comments)

Buying a Home - 12:55 PM
Buying a house is a very exciting time. Congratulations on your decision!
The good news is that if you do the legwork and set the right wheels in motion you can be in your own house in a fairly short time. The bad news is that you can expect that there will be lots to do before you get there.
Your house is likely to be the single biggest purchase that you will make in your lifetime. As such, it makes sense to take a careful approach when buying a home. We all know people who will spend months researching the perfect … (0 comments)

The Home of Your Dreams - 01:02 PM
The home of your dreams may not be the home of my dreams. Some of us like an older home with character. Some of us like a brand new home for which we've picked every floor covering and the colours of every wall. Some of us like something in-between, where it's new enough not to need a roof, but old enough to have been fully decorated by the previous owners.
This is what you have to decide. What kind of home do you want? Condo apartment? Townhouse? Bungalow? Two-storey century home? A little place in the country? It's up to you.
If … (0 comments)

NAR - 06:13 PM

Sat. 8 am by the tradeshow entrance middle entrance if there is more than one and if there are only two the entrance door on the right.  Will add Tammy to the list Sharon anyothers?  Let us know I am sure we can find a coffee table close by to use.  I am not sure where the International room will be or how close it is to the tradeshow since we all can find the tradeshow entrance easily enough this should work.
Matt and Caleb would you like to take Linda Davis up on her invitation to KPauls Weds.?  Check out the … (0 comments)

Active Rain is about Sharing! - 06:34 PM
 
I am always amazed when sharing facts about real estate news and views or technology is considered sac religious.  Get a life folks AR is about sharing, giving credit where credit is due and for those of you that still haven't heard about Allen Hainge's Newsletter News and Views I strongly suggest you subscribe.  Alot of information is shared there as is here on this site about how to do business more efficiently.
This sharing is the whole point of AR.  If you are only in business for yourself and can't stand competition or don't care to share than stop wasting your time counting my … (3 comments)

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