Archives of real estate blog entries for March 28, 2007

Featured blog posts


I want to be an REO Agent... How do I get started?! - 10:37 PM
Based on the volume of private emails I've been receiving, answering this question here will save my fingers a lot of work!!  But, before I answer the burning question, let me give you some food for thought.
Do you know ALL that is involved in being an REO Listing Agent?  Here's a sample of what we do:
Accompany the Sheriff on EvictionsSecure & Re-key the propertyTurn utilities on in our name Have property winterizedCoordinate the trash out (Some AMs have us store the personal belongings / trash for 90 days+)Ready the property for marketing including making repairs and improvementsPay the bills on all … (148 comments)

Ancillary Companies - Are they a liability? - 05:29 AM
You and I were always told in our real estate classes that "steering" is not only taboo it is surely guaranteed to land you and I in court.  I have been very careful over the years to give at least 3 names of all service related companies my clients will need services from. After a conversation I had this weekend with another Realtor I am taking my advice a step further.
Many "Full Service" real estate companies have popped up over the past several years. These companies have brought in Ancillary companies such as title companies, mortgage lenders, insurance companies, warranty companies … (37 comments)

Wide Enough To Capture A Whole Rainbow - 11:12 AM
Canon ESO Rebel VS Kodak V705: An Anecdote
I've written before about the beauty of carrying a point & shoot camera with you everywhere you go. I've also written about the Kodak V705, the first point & shoot camera I've ever felt comfortable recommending. This past week, something happened that surprised me.
It Misted In Los Angeles.
Yes, it's been a dry winter in LA, so even mist is news, but that's not really what surprised me. Call me sappy if you want, but I LOVE rainbows. LOVE THEM. So when I looked out the family room window and saw a full rainbow arching … (61 comments)

Target Marketing your Real Estate Business - 05:51 AM
What is Target Marketing? I like to refer to it as laser surgery. While many Realtors, before building their referral business, try Farming as a way to generate buyers and sellers, I have found that most will use geographic and neighborhood Farming as a first resort. The are lot's of Farming ideas out there to be utilized.
Did you know that public records (varies from county to county) offer some great ways of building prospects using the data in a different manner?  We all know you can search and Farm for empty nesters, move-up and move-down buyers, renters and most likely to list … (77 comments)

Home Ownership - Is It Really Only About Money? - 05:59 AM
26 March 2007
Monday, March 12th, the  Wall Street Journal carried an article entitled "Why Your Home Isn't the Investment You Think It Is."  In this article WSJ reporter David Crook focuses only on the financial aspects of owning a home, and not very positively at that.  He quotes a large investment firm - competitors with the real estate market - touting investments over home ownership.  Here are our comments:
                                           Skewed for a purpose.  The article was skewed for a purpose.  Someone should tell Mr. Crook about a certain family we're currently working with that made their decision to buy because of their landlord's insensitivity.  As is always the case, people … (31 comments)

Those Elusive Vacant Houses - They Can Be Staged For Less Than You Think! - 02:42 AM
I don't know about others, but until lately, I had a very difficult time landing the vacants.  The truth of the matter is that the houses are either new, and in that case built on speculation, or the houses are 'flips' that were bought and reconditioned to sell for more money.  In either case, the owner invests a lot of money - sometimes all that they have and then some (through partners, loans, etc).
There is a way to make it work, however.  By using a combination of rental furnishings and the stager's own furnishings and accessories, an agreeable price can be … (57 comments)

Internet Marketing Requires Lots of Patience! - 11:57 PM
Aurora Denver Colorado Real Estate - Homes for sale in Colorado Spanish Speaking Real Estate Agent 
… (25 comments)

An ethical dilema. What are your thoughts? - 01:01 AM
Here's a situation that just happened in our office.  Let me set it up
Seller signs a 6% listing agreement with listing agent.  Our company has a cooperative agreement with MLS Brokers and the published SOC is 3%.
Buyer's agent (also from our office) submits a full price offer.  For the sake of EZ math, we'll call the sales price $500,000.
A second Buyer surfaces from a sign call.  Listing agent shows them the house.  Listing agent discovers that the Buyer is unrepresented and believes that the Buyer will write an offer with him and contacts the Broker (who has a policy that if a LA writes … (64 comments)


Blog posts


Conversions Get a Second Chance - 03:04 PM
What seemed dead a few weeks ago is being given a second chance. The Senate has attached the condo conversion bill to another affordable housing measure. If passed, it will go into House-Senate reconciliation as the House’s version of the affordable housing measure does not include the conversion bill.
Continue reading the full article at Seattle Housing Buzz. 
… (1 comments)

Sub-prime implosion..... - 11:45 PM
The ticker feed from all wire services is reporting the financial tsunami of defaults on sub-prime loans. Bernake is reported to have "said that uncertainties over the economic outlook had increased, most notably the future trend in oil prices and a possible knock-on effect from the sub-prime lending crisis into the broader US housing and credit markets. Thus far, the Fed chairman declared, the difficulties faced by sub-prime lenders - which deal with customers who are shunned by mainstream lenders - were being contained. He argued that the shakeout caused by defaults on mortgages by overstretched and less creditworthy borrowers was … (0 comments)

THE NEXT SURVIVOR SERIES - 10:47 AM
Email to me with no author acknowledged: 
THE NEXT SURVIVOR SERIESSix married men will be dropped on an island with one car and 3 kids each for six weeks.Each kid will play two sports and either take music or dance classes.There is no fast food.Each man must take care of his 3 kids; keep his assigned house clean, correct all homework, complete science projects, cook, do laundry, and pay a list of "pretend" bills with not enough money.In addition, each man will have to budget in money for groceries each week.Each man must remember the birthdays of all their friends and relatives, … (2 comments)

Sonoran Foothills - 10:24 AM
SONORAN FOOTHILLS
Sonoran Foothills is a new desert community that encompasses 800 acres 2 miles south of the Carefree Highway approximately at 27th Avenue.   Sonoran Foothills is nearby a proposed desert mountain preserve and includes a 4000 square foot clubhouse with many activities in which you can participate in.   Some of the included amenities are a lap and leisure pool, spa and many big grassy lawn areas.    Sonoran Foothills also has several basketball courts, tennis courts, soccor field, many tot lots and many walking trails throughout the community.  This beautiful community also has numerous large greenbelt areas. 

Views from Sonoran Foothills are stunning as … (0 comments)

Goodyear annexes additional land - 10:26 AM
The city of Goodyear has annexed an area that is 67 square miles in an area south of the original Goodyear city lines.    This area is called the Sonoran Valley and is now makes Goodyear the second biggest west valley city with 200 square miles.    The biggest is Buckeye at 700 square miles. 
The intent is build a new community called Amaranth in the annexed area.  Amaranth is a planned 690 acre development established by Montage Holdings.     
To find out more about Goodyear Arizona, please view my website at www.donrichhomes.com.
… (0 comments)

Groups of Groups - 08:16 AM
Photography Group members might also be interested in these photography related groups on Active Rain:
Great Shots founded by Fran White in December 2006 and
Photoshop Elements for Real Estate founded by Photography Group's Mike Stankewick just this week.
Take a look, join, add a blog (on-topic, of course, please), and keep the synergy flowing.
… (2 comments)

Zero No More - 11:20 AM
Awwwww man.  Yos guys went and posted stuff.  And it looked so cool with zero blogs.  Well since the honor of being a group with zero posts is gone, we should now try for the group with the most posts.  Or how about the group with the most absurd posts. Or the group with mostly absurd posts. :-)  … (8 comments)

Outlook 2007 for Washtenaw County - 10:21 AM
Last week I had the opportunity to sit in on a luncheon with University of Michigan Economist George Fulton and Google Adword's Grady Burnett.  Both speakers were to the point, witty and frank about the current issues facing the Ann Arbor region.
 George Fulton's speech can be seen here.  20 years he has been doing this analysis for the Ann Arbor News and every year he has delivered an insightful, frank, yet witty speech.  Remarkable, considering economic numbers are usually the key to curing insomnia!  Now, what would have put this video presentation over the top, for me at least, would have … (1 comments)

A Unique Client Gift and Great Promotional Tool - 07:36 PM
Are you looking for a special client gift?  One that will win the coffee lover's heart? 
If you answered YES to any of the above questions you might want to check out Jax Coffee House & Roastery.  Jack and his wife have been in business for 11 years now and specialize in small batch coffee roasting.  If you don't live in Paso Robles, California don't worry, they offer an online account and catalog.  Plus they will ship the package where it needs to be.
As a Realtor, I like to find special ways to say thank you to my clients as well as … (26 comments)

7241 Brookfalls Terrace Baltimore, Maryland 21209 - 10:16 AM
… (4 comments)

Nima of Countrywide Home Loans has moved to the Norwalk, Connecticut branch! - 04:33 PM

Dear Reader,
I would like to take this time out of my super busy day to make a public announcement that I have officially moved from the Southport, CT satellite office to the new Norwalk, Connecticut branch.  This is a move that I personally like and dis-like.  I like this move because I am now only a flight of stairs away from my openers, processers, underwriters and closers which means that I will be seconds away from the actual behind the scenes Countrywide Home Loans http://www.countrywide.com/ professionals that work on your mortgage.  I will have fast mortgage processing and I … (4 comments)

Most creative way to grow your biz? - 12:32 AM
What has been your "most creative" way to grow your business? That is, what's your most creative avenue for meeting new clients, or winning them over, or keeping them?In my office, even though we're smak in the middle of Silicon Valley, not a lot of folks do web marketing. I seem to be out in left field compared to the regular door knockers, cold-callers, open housers and others.What about you? Are you thinking out of the box? I'd love to hear your success stories! … (11 comments)

Internet Marketing - 08:12 PM
This afternoon, I attended a class in web marketing at my real estate board, the SILICON VALLEY ASSOCIATION OF REALTORS, or "SILVAR" for short.  I have had some success with my websites (though not with blogging to date) after reading a bunch and taking some courses on the subject and have worked with a group in my office on internet marketing. Though I probably knew 90% of what was taught today, I felt that the 10% that was new to me was really helpful. And it was great that the presenter, Chris Alston, does a nice job in front of a live … (4 comments)

Best & Worst Marketing Ideas? - 11:26 PM
Do you have great marketing ideas to share? Horrible marketing ideas you'd tell us to avoid?Over the 14 years of my career, I have tried everything from doorknocking and cold calling (a very long time ago), to working expireds and fsbo's to doing farming, open houses, and who knows what. I think I tried everything. Ultimately, I found that the stuff that works the best is the stuff that's sustainable. I have to like it (at least a little) to keep doing it.I like to have a good time. Seriously. So what works for me the very best is (1) keeping in … (7 comments)

North Everett Historical District - 06:31 PM
North Everett Historical District is located on Grand Avenue and Rucker near the Legion Golf Course and Marine view Drive. The neighborhoods is built in Traditional and Colonial style construction that incorporates large homes, big lot sizes, many windows and beautiful landscaping. The neighborhood reminds me of something out of a movie and in my opinion it is one of the nicest places in Everett Washington.
Being situated on a bluff, the North Everett Historical District has breath taking views of the Puget Sound, Olympic Mountains and the Everett Marina. Many people watch the sunset from The Park on Grand and the walk way … (0 comments)

Marysville Pictures - 07:30 PM
Well this morning I exhausted all the pictures in my added supply and had to go out and take another round. The pictures will translate into 16 new web pages for the Marysville section on the website. It is easy to rack up many pictures and the challenge comes when page construction begins. Tonight I may get started and built a page or two.
So far all I have gotten is weird looks from residents or people in the parks. No one has accused me of anything sinister which surprises me for some reason. When going around and taking pictures I think what … (6 comments)

Our Phoenix market - Any of you have a crystal ball? - 12:34 PM
As of today - in the Phoenix, Arizona market, we have 49,667 active listings. This is absolutely the highest number since I've been keeping track for several years!! In September 2006 we reached almost 48,000, but now I'm seeing 50,000 listings around the corner. I see so many opins on the news and in newspaper articles, that I think everyone is just kinda sorta guessing!! I know that the Phoenix market is traditionally a "good" one, but I remember in the early 80's.........oh my, my. My listings are typically staying on the market 90+ days. The homes are staged, priced competitively, they … (0 comments)

Letting the Seller Know 'It's Tough Sledding' - 01:32 PM
Setting the stage to let a seller prospect know it's "tough sledding" out there:
"Mr. and Mrs. Seller, before we discuss price, there's one critical question I must ask you: Do you want to be a Winner...a Warrior...or just a frustrated Wanna Be?
Winners priced to today's market realities and have already sold their homes.
Warriors are still slugging it out trying to attract a buyer. And the frustrated, disappointed Wanna Be's chose to ignore the facts and end up without a sale!"
Don't be a referral agent Wanna Be. Get paid for your Alabama referrals!
Just send 'em to the Hat Team, 800-HAT-LADY. … (3 comments)

Kansas City Real Estate: 4 bedroom 3 bath home - 09:33 AM
Click here for a Virtual Tour of this dynomite property!   
This 4 bedroom, 3 bath home is impressive and has been well taken care of, updated and loved. With Pottery Barn colors, new carpet in '06, new roof in '05, vinyl windows by Pella in '06, Extremelyl large deck for entertaining, bonus room off Master 23x9 could be used for study, den, media room, large office or made into another kitchen. Zoned heating and cooling 2 Central Air units, 2 Furnaces, 2 Water Heaters and 2 attic fans! This one has it all ! Lovely tile in the kitchen and dining. Come … (0 comments)

Don't count your chickens until they hatch..... boy was I wrong about my buyer!! Appraisal before accepted contract part 3 - 01:19 PM
Well AR, I was so very, very wrong.  I thought that because I had educated my seller on the market by sending her emailed on almost a daily basis with price changes, new listings, expired and if we are lucky solds, that she would be different and see where the market is.  But, I made a huge mistake by thinking that my seller wanted to sell rather than just list.
I previously blogged about an offer I had received, our counter, and then the buyers having an appraisal done.  When they did present their counter it was solid - $15,000 higher than it … (11 comments)

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