Archives of real estate blog entries for September 23, 2007 (Page 7)

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Economic Conditions for the Las Vegas Valley September 2007 - 06:23 PM
Economic Conditions for the Las Vegas Valley August 2007 Housing Conditions:
Foreclosure/Short Sale Listings (9/23/2007): Total Listings 27,404; Foreclosures Commenced: 1093, 4% of all listings; Short Sales: 2710, 10% of all listings; Both Foreclosures Commenced AND Short Sales: 504, 1.8% of all listings. New Home Sales (August 2007, units sold): 1376 Year Change -49.7% (excl condo conversions, highrises) New Home Sales (August 2007, median price): $308,161 Year Change -10.1% (excl condo conversions, highrises) Existing Home Sales (August 2007, units sold): 2062 Year Change -43.4% Existing Home Sales (August 2007, median price): $275,000 Year Change: -4.8% Single Family Residential Building Permits (August … (2 comments)

Las Vegas Valley Multi-Family Unit Permits up 2054% from July 2007; 110% from One Year Ago **NOT A TYPO!!** - 08:28 PM
I don't normally include multi-family unit permits in my economic conditions reports but this is VERY interesting!
It is absolutely no surprise to me as I actively work the rental market as a referring Realtor(R), I do not have a property management permit. Inventory has been flying off the shelves like hotcakes. Other Realtors (R) who are actively working the rental market and were around for the resale boom in 2004 are comparing the rental market to that.
There were 1594 multi family units permitted for the month of August 2007. Only 74 were permitted in July 2007 and 760 in … (7 comments)

Rhodes Ranch Area Active Listings/Sold/Rental Real Estate Market Reports Generated September 23,2007 - 09:22 PM
This Rhodes Ranch Area market report was generated on September 23, 2007: Active Listings: 475 Under Contract: 51Sold 8/15-9/15/2007: 35Months Inventory:  13.6 
 
Rental Market Report generated on September 23, 2007:
Active Listings: 96Under Contract: 18Leased 8/15-9/15/2007:  53Months Inventory:  1.8Median List Price for an area rental:$1275/month, Low:  $750, High:  $5000
Information from GLVAR is deemed reliable but not guaranteed.
Last Market Report Generated September 5, 2007
Click here to view current residential rental listings, resale listings, pendings and sold information in the Rhodes Ranch area. 
 Includes: Apache Hills, Apache Springs (The Falls), Astoria Homes at Rhodes Ranch (Independence), Canyon Trail, Huntington, Liberty @ Warm Springs, Maplewood, … (4 comments)

Short Sales: 1st and 2nd Liens (80/20 loans) - 03:52 PM
1st and 2nd liens, either with the same lender or different lenders can be interesting to work.  First of all, when
you have a 1st and 2nd with the same lender, this is usually a good thing.  Our experience has been that when
this is the case, most lenders are more willing to heavily discount or completely write off the 2nd lien amount. 
This has especially been our experience with Washington Mutual.  Just treat this scenario as if it is one lien
and let the bank decide what is best for them for the 2nd lien.  On the other hand, your strategy changes … (1 comments)

Latest real estate market conditions in Grayslake, Gurnee and Round Lake area - 10:58 PM
Are Gurnee, Grayslake or Round Lake area your target market? Are you think about buying or selling real estate in Gurnee, Grayslake or Round Lake? Here is our latest market updated for homes currently on the market through the MLS of Northern Illinois ... data as of 9/9/07
"This representation is based in whole or in part on data supplied by the Multiple Listing Service of Northern Illinois, Inc. as of the dates mentioned. The Multiple Listing Service of Northern Illinois, Inc. does not guarantee nor is it in any way responsible for its accuracy. Data maintained by the Multiple Listing Service of … (0 comments)

Latest real estate market conditions in Long Grove, Kildeer and Hawthorn Woods area - 11:09 PM
Are Long Grove, Kildeer and Hawthorn Woods area your target market? Are you think about buying or selling real estate in Long Grove, Kildeer and Hawthorn Woods? Here is our latest market updated for homes currently on the market through the MLS of Northern Illinois ... data as of 9/9/07
"This representation is based in whole or in part on data supplied by the Multiple Listing Service of Northern Illinois, Inc. as of the dates mentioned. The Multiple Listing Service of Northern Illinois, Inc. does not guarantee nor is it in any way responsible for its accuracy. Data maintained by the Multiple Listing Service … (0 comments)

Latest real estate market conditions in Lincolnshire, Lake Bluff and Lake Forest area, Lake County, IL - homes, condos and townhomes for sale - 11:13 PM
Are Lincolnshire, Lake Bluff or Lake Forest area your target market? Are you think about buying or selling real estate in Lincolnshire, Lake Bluff, or Lake Forest? Here is our latest market updated for homes currently on the market through the MLS of Northern Illinois ... data as of 9/9/07
"This representation is based in whole or in part on data supplied by the Multiple Listing Service of Northern Illinois, Inc. as of the dates mentioned. The Multiple Listing Service of Northern Illinois, Inc. does not guarantee nor is it in any way responsible for its accuracy. Data maintained by the Multiple Listing Service of Northern Illinois, … (0 comments)

Latest real estate market conditions in Vernon Hills & Indian Creek, Mundelein and Libertyville area, Lake County, IL - homes, condos and townhomes for sale - 11:17 PM
Are Vernon Hills, Libertyville or Mundelein area your target market? Are you think about buying or selling real estate in Vernon Hills, Libertyville or Mundelein? Here is our latest market updated for homes currently on the market through the MLS of Northern Illinois ... data as of 9/9/07
"This representation is based in whole or in part on data supplied by the Multiple Listing Service of Northern Illinois, Inc. as of the dates mentioned. The Multiple Listing Service of Northern Illinois, Inc. does not guarantee nor is it in any way responsible for its accuracy. Data maintained by the Multiple Listing Service of Northern … (2 comments)

Free Web Service to Save Travel Dollars - Farecast.com - 12:35 PM
Thinking of traveling to the Phoenix area this year to check out buying a second home here? Or planning to visit the "Valley of the Sun" to consider a relocation? Here is a new resource that can help save you dollars for your airfare and hotel.
Do you ever wonder if you should buy your airline ticket today, or wait a few days to see if there is a price drop? There is a website that can help you decide and likely save you some money. A new website, Farecast.com helps you decide “when” the best time is to buy airline … (2 comments)

Do Not Call List is Approaching Five Year Mark - 12:58 PM
As responsible real estate agents we always honor Do Not Call rules. If you are a consumer here is something you will want to be aware of.
If you treasure your dinner hour and do not want to be bothered by telemarketers you’ll want to re-register your phone numbers on the national Do Not Call List. The original list was established in June 2003. Numbers on the list are only valid for five years which means that those entered in the early days will automatically drop off in 2008 if the owners of the numbers do not re-enter them into the … (1 comments)

New Environmentally Friendly License Plates for Arizona - 06:42 PM
Arizona is a state that continues to becoming more environmentally aware. License plates in Arizona will soon be looking different. Arizona is getting rid of raised print on license plates, switching to a digital process that is said to be better for the environment. Already 21 other states have adopted this new process.
The old process releases volatile organic compounds when paint is machine-dried on the plates. The amount is estimated at 1,500 pounds a year in Arizona alone. The new process, which works like a high-tech copy machine eliminates paint from the process. The new equipment is more expensive but … (2 comments)

How Many Pot Houses Are in Sacramento? - 09:09 AM
Something tells me that the recent Sacramento pot house busts are only the tip of the iceberg -- there are probably hundreds of other illegal pot operations throughout Sacramento, Placer, Yolo and El Dorado Counties that the police departments have yet to discover. Suburbia hides this sort of stuff much easier than the city. Vans can pull quietly into attached garages, unload growing supplies and cart them into the house without any neighbors batting an eye because nobody sees them. Lots of suburban neighbors keep to themselves. There is less foot traffic in suburban communities as well. But the fact that … (4 comments)

Have You Ever Wiped Out Your Web Site? - 11:08 PM
If you've ever clicked the wrong button or had a power failure when working on your Web site, come over and crawl into a cry-fest with me. Yesterday morning I was working on my site, updating, adding a few links, and I was on the wrong page by mistake. When I clicked "submit," it wiped out my Web site. In its entirety.
If that happened to you, how would you feel?
At first, I was in shock. I couldn't believe I had done such a stupid thing.
After reality set in, I was in tears. By the time my husband found me, I was … (6 comments)

Your Attitude Amidst Change Dictates Everything! - 01:41 PM
This week found me meeting with a former business associate from the wireless industry to catch up on the last couple of years and to work out the details of a printing project we'll be doing for him and his dealership.  The wireless business, for anyone that's been around it, is one that has experienced change on a monumental scale and continues to feel 8.2 Richter scale shifts in its tectonic plate "old boy network" foundation.
I rode that wave for the entire 90's and into this decade only to draw the line at yet another wireless mega-merger where my role would most certainly have ended … (9 comments)

California Real Estate Headline Roundup - 10:17 PM
The Norris Group runs a blog that collects California-specific news.  We've aggregated over 2,000 articles since 2005. Intersted in seeing what the news what saying about real estate over a year ago?  Check out our archives.  It's unreal where we've come in such a short amount of time.
 http://thenorrisgroup.blogspot.com/
RSS Feed available.  We try to update at least five days per week.  Have an article you think we need to post, shoot us an email.
… (2 comments)

The Norris Group Real Estate Radio Show - 10:26 PM
The Norris Group's Real Estate Radio Show
The Norris Group Real Estate Radio Show is hosted by author, California real estate trainer, investor, and hard money lender, Bruce Norris. Our show focuses on California real estate trends, how to survive a changing market, and how to profit as an investor, builder, Realtor, and mortgage professional. The strategies you used yesterday in a boom are useless in a bust. We're equipping California real estate professionals for tomorrow's challenges.
KTIE, 590 AMSaturday, 6pm-6:30pmHave bad reception or looking for TNG on the go? See below for several ways to tune in every week.
To … (0 comments)

Real Estate Auctions - What do Realtors really think? - 11:43 PM
I'm interested in getting some feedback regarding real estate auctions and investors.
Our company has teamed up with a California-specific auction company and we've been really excited and happy with the results.  Our commercial building was on the market for over six months.  We gave it to the auction company and they had it sold in a little over 30 days and it closed around 40 days later!  What a relief! Considering we bought the building over 10 years ago and it was in a slightly strange location, we were fine with price we received and happy to be in our … (3 comments)

Points, Schmointz...HUGE MILESTONE!!!!! - 12:02 AM
Time to pop open the champagne!  Just 345 points ago I reached that very important Active Rain blogging milestone, 31943!  WOO-FREAKING-HOO!
Those of you that have 69217 points probably remember that special feeling, 36930 points ago, when you were trembling with excitement...ONLY ONE MORE POINT you thought to yourself, blogging at 3am with a red bull in one hand and the real estate investment infomercial blaring.
I know that 16789 points ago, when I was only 548 points away from 16047 points (remember that?), I never imagined that I would be here today...only 17213 points away from the coveted 49501.
I want to thank … (60 comments)

Real Estate Licensee CE Class on Lead Exposure - 12:56 AM
The University of Nebraska is sponsoring a FREE continuing education class on Thursday, October 11, 2007 at the University of Nebraska Douglas/Sarpy Counties Extension Office located at 8015 West Center Rd in Omaha, Nebraska.  This class will be worth 3 CE hours and will be from 8:30 - Noon. The class will cover the Federal Requirements to Lead Based Paint. 
The instructor is Richard Reibstein and he is currently with Boston University, Center for Energy and Environmental Studies.  This class cover the disclosure requirements in order to prevent tragic lead exposure.  Seating is limited and a photo ID will be required for admittance on the … (0 comments)

Business Planning - 11:55 PM
Omaha, Nebraska     Contributed by David Matney with Alliance Real Estate
I read a blog post a few days back about a lack of a business plan.  In the post they talked about not having a business plan.  Having a business plan does not mean you will be successful.  I know plenty of very successful agents that use the "fly by the seat of your pants" method.  I am not a business major nor did I attend Wharton School of Business so maybe my business plan might be just too simplified for some folks.  Business Plans are a living document and you should be … (2 comments)

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