Archives of real estate blog entries for January 15, 2008

Featured blog posts


Why is it so important to use preferred lenders? - 11:40 PM
I write this because of a couple, that I helped find a new home for, decided they wanted to use a lender that they met one day before me and I had never heard of. They decided to go with this lender because he offered them a loan payment of $1864 per month versus the $1919 from one of my preferred lenders, and $1923 from another.
Knowing I had never heard of this lender, I was willing to give him a shot for the benefit of my clients, because $50 is $50 in a client's eye. After going over the good … (61 comments)

Do You Take Your Sellers Out To Tour The Competition? - 11:21 PM
I was reading a post here today on AR and someone commented on a it (can't remember who) and made mention of doing this.  It wasn't in reference to that particular post, it was just something kind of thrown out there that they do.  They take their sellers out to tour the competition in the neighborhood. 
I really wish I would have paid more attention to who it was, so I could have gone back and read through their blog.  At the moment, I just glanced past it not really thinking too much about it.  But then a couple hours later, it was kind of an AH-HA … (43 comments)

It is time to end the Rumors . . - 07:27 PM
Putting an end to all of the rumors that has been flying around Wall Street, Bank of America Corp. announced today that it's purchasing Countrywide Financial Corp. for $4 billion, effectively doubling down on a previous investment in the troubled firm and catapulting the buyer into the top spot among mortgage lenders and loan services in the U.S. 
The stock-swap deal will put an end to the independence of the troubled California lender headed by Angelo Mozilo, and represents an increase from the Charlotte, N.C., bank's August investment of about $2 billion. "We believe this is the right decision for our shareholders, … (27 comments)

Entitlement Stagnation - 11:37 PM
As we continue to correct ourselves from a sellers market that lasted about three years, I'm finding in my conversations with potential buyers, and my interactions with both buyers and sellers, that one thing contributing to the stagnation of the current market is entitlement.  
Someone said that sellers are always the last to know when the market turns into a buyers market.  You can find this to be true by checking the market statistics (http://www.nvar.com/ and click 'Market Statistics').  Count the days on market in different zip codes, or by city, and you'll see that there are homes that have … (28 comments)

How Home Staging is Like Viagra - 09:42 AM
I was watching television the other night when a commercial from a drug company came on, then another and another. All of these medicines were by prescription only. I thought to myself why do the drug companies waste money on advertising? It's not like I can go to the drug store and buy it myself - I need a prescription. I have to ask my doctor for it.
Can you hear the sound of the brick falling on my head?
They are creating a want and a demand for their product to the consumer so they will go to the doctor and ask … (22 comments)

Using Open Houses to YOUR Advantage - 09:37 AM
There has been much discussion, and disagreement, on the part of agents who list homes about the value of open houses in today’s market. Some folks do lots of them, some don’t at all, and others just hold them occasionally. Agents report successes as well as failures with open houses. Check out Brad Andersohn’s terrific Open Houses – The Controversy summary post.
We’ve also seen some good articles on how to prepare for and run an effective open house.
Rory Wilfong’s Open Houses…Think Outside the House
Kevin Hanley’s List of 26 Open House Tips for REALTORS
This post, however, is … (44 comments)

I QUIT- WAYS TO MAKE A GRACEFUL DEPARTURE - 09:50 AM
 
            Making changes is always a difficult decision.  The Real Estate Market has claimed many victims over the past year. More are expected to fall as the market continues to adjust.  Title companies, Mortgages companies, and Realtors have had to look elsewhere for gainful employment.  The economy is teetering precariously as the cost of fuel, food, and living expenses rise. 
            If you are considering a change of profession keep in mind how you exit can affect your next position. While giving two weeks notice is customary, as employees of Dixie Stampede in Orlando discovered  on January 7th, 2008, when … (46 comments)

Stated, No Doc, No Ratio Home Loans..Think They Are in The Past? Guess Again - 09:52 AM
Stated, No Doc, No Ratio Home Loans..Think They Are in The Past? Guess Again 
As a Professional Mortgage Broker in Florida I found their are many misconceptions on what Mortgage Programs are available in today's Lending Industry.  The following programs are still available:
Stated Income, Stated Assets (No Proof of income or assets)Stated Income, Verified AssetsNo Documentation LoansNo Ratio LoansBusiness Bank Statements Loans (For Proof of income)Personal Bank StatementsWhat are the Requirements?
First off, their is NO Set FICO for every loan throughout the Lending Industry.  This is one of the reason's why I enjoy being a Mortgage Broker.  I am able to sift … (44 comments)

They Call Me Mr. Repartment - 01:54 AM
The new buzz word around these parts is "repartment"...the reverting of condo conversions back to apartments.  The once lava-sizzling hot Seattle condo market has gotten hit with a crisp winter's blast.  The cranes are still up for the eight new condominium projects in the downtown area, as well as another ten in Seattle's Eastside and Northend neighborhoods.  But as the mortgage industry took a hit, fears of a crash and the 84% jump in available condo inventory have taken its toll.  The major developers will likely ride out the coming storm but the smaller conversion developers are on life support.
Two of … (19 comments)

My Little Zillow Meltdown - 09:55 AM
Since I actually met the Zillow folks at BloggersConnect last week, I'm almost tempted to take down the couple of rants I've done in a couple of blog posts, but as I learned, "Once on the Internet, always on the Internet". 
Here in Washington, there are special challenges for any company trying to get an on-line home values database.  Neighborhoods are architecturally diverse, so comparing a subject house to it's "comps" isn't even apples to oranges.  It's apples to monkeys!  Even in a block of identical looking row houses, some are granny houses that were state-of-the-art in 1942, and others have … (67 comments)

Quit Apologizing For Being a Real Estate Agent - 11:35 PM
So what do you do for a living? It seems like a simple enough question. Yet these days it seems agents are breaking out in a sweat and apologizing for what they do. Maybe their business isn’t going well and they aren’t feeling confident in an answer. Perhaps they are worried about the public perception of real estate agents or maybe they are afraid of the next question “what do you think of the market?” Recently I’ve watched agents hem and haw over that question and thought well “no wonder the public thinks we charge too much for our services, we … (74 comments)

Increase Your online Presence with Ziki - 11:28 PM
 

 
Ziki.com is a next generation search engine designed for people, powered by people.
Be visible. Create your official Web page and be listed in top search results forGoogle, Yahoo! and MSN. Be part of the Ziki community and network with others for free.
By signing up with Ziki.com your are able to create an on-line profile that is indexed by Google and other search engines. In your Ziki you are able to add pertinent links to your business such as your website, blog, and other accounts such as Linkedin.
For those reading this that are new to … (115 comments)

*Sigh* - 05:58 PM
Today I read a post by Rich Jacobson, explaining how it’s not nice to be rude to someone.  (I know, I know, but some people need to be told.)  And now I’m going to tell you that it’s OK to blog off topic.  Yeah, I know you know.  But someone doesn’t, and they were rude about it.
In Rich’s example, someone wrote a recipe in their blog.  They were told that was wrong.  Let me tell you why recipes, pets, sports, books or whatever belong in your blog.  
First let’s imagine you’re meeting someone new.  In your mind, you probably … (120 comments)

Actual Stats For: Craigslist, Google, Yahoo, Trulia, Point2, AR, homes.com etc... - 09:48 AM
Stemming from a post made the other day I wanted to post live stats this morning showing the difference in traffic generated by various websites (Sites referring people to MY site).
Keep in mind that this is a little town (2200 population +/-) and it's January :) so stats won't be as high as they will be come spring'ish time, but I felt it was worth sharing my own experience with other AR'rs who are considering paying for leads or ads on certain "Real Estate" related websites.
My Site (Referral) Stats (Jan 1 - 14, 2008)
As you can see - CraigsList tops … (37 comments)

Seriously People- Why do people plagarize other's sites?! - 09:53 AM
Yesterday started out as one of the happiest days I have experienced as a small business owner. I found out that I had been voted Staging Professional of the Year and was thrilled to have received the honor. Finally some validation for working my butt off the almost 4 years.
Later that day I was online researching staging firms and I came across a website that caught my eye. As I was reading about this firm's "team" the text sounded oddly familiar. It was really well written, concise and to the point. I then had a sinking feeling in my stomach- … (52 comments)

Serial Withdrawing And Entering Of Listings: Does Your MLS Allow it? - 09:54 AM
In our Bradenton - Sarasota MLS area we have agents who constantly withdraw and re-enter their listings hoping to give them more exposure.  Our MLS has no restrictions on this at the present.  Are these agents manipulating the system?  Is it in the best interest of their client/customer to have a listing history like the one pictured below?
It seems that looking at this history a few ideas emerge.
1. Perhaps it shows that the listing agent did a poor job in pricing the house in the first place.
2. Perhaps the seller was resistant to price reductions.  Several of the re-entries showed no … (34 comments)

It Pays to Post to Localism! - 10:02 AM

 
 
 
Where did all those points come from?  I wondered that when I opened up Active Rain this morning.  The answer turned up when I clicked on Points Summary (bottom left hand side of my HOME page in Active Rain) and scrolled down to Score Details.
My post to Localism had been featured, and AR awarded 500 points for that!  Very cool, but I didn't know about the feature until I investigated. 
I logged into Localism to see if there was a little gold star indicating the feature.  Nope!  There was nothing I could see, either on Localism or on Active Rain, to indicate that … (100 comments)


Blog posts


Getting More From Your Real Estate Blog - 11:38 AM
Blogging may not ever go mainstream in real estate, and that's a good thing for those who practice the art. In an industry where fast results are preferred and successful people usually have more client turnover, those who take time to document the market and offer their thoughts will likely always be in the minority, and stand out as a result. But blogging's lack of trendiness hasn't stopped it from evolving - new strategies are constantly appearing, and real estate blogs offer some of the best ideas. This article includes a few ideas for putting together a successful real estate blog, … (0 comments)

Home Furnishings Can Be Green Too - 11:39 AM
Furnishing your home with environmentally friendly products doesn't have to be costly or time consuming. As demand grows for these furnishings more companies are producing them, and some are switching their inventories over completely. The result is more selection for buyers, and cheaper costs. For home owners who've been waiting to green up their interior decor, it's never been more affordable to start. And for those who've never considered the idea before, it may be surprisingly enjoyable.
One of the reasons green home furnishings are more accessible now is that they come in a wider variety of materials. Plastic and … (0 comments)

Smith Tower Conversion Scaled Back - 01:00 AM
The owner of Seattle's history Smith Tower, Walton Street Capital, has scaled back its condo conversion plans.  Initially, Walton Street planned to convert the entire building, once the tallest on the West Coast, to condominiums which would have resulted in approximately 150 units.  However, no doubt swayed by the softening of Seattle's condominium market, they've scaled back plans to only convert the top 12 floors.  The narrower upper floors will incorporate a single unit per floor, about 2,000 square feet each.  No word yet on time frame or pricing 
Prior posts:   Smith Tower & Smith Tower Update
… (1 comments)

They Call Me Mr. Repartment - 01:54 AM
The new buzz word around these parts is "repartment"...the reverting of condo conversions back to apartments.  The once lava-sizzling hot Seattle condo market has gotten hit with a crisp winter's blast.  The cranes are still up for the eight new condominium projects in the downtown area, as well as another ten in Seattle's Eastside and Northend neighborhoods.  But as the mortgage industry took a hit, fears of a crash and the 84% jump in available condo inventory have taken its toll.  The major developers will likely ride out the coming storm but the smaller conversion developers are on life support.
Two of … (19 comments)

Enhanced Driver's License Coming Up - 01:57 AM
Washington residents will be able to obtain the new Enhanced Drivers License starting January 22nd.  The Enhanced Drivers License will allow residents to re-entry the U.S. at land and sea borders between the U.S., Canada, Mexico, Bermuda and the Caribbean, without needing a U.S. Passport.
The fee for the enhanced drivers license if $40.  However, residents with a valid Washington State drivers license can up for $15.
For more information, visit the Washington State DOL website:
http://www.dol.wa.gov/driverslicense/edl.html
… (0 comments)

Macworld Conference & Expo--What's New! - 01:40 PM
 
The Macworld Conference & Expo is currently going on in San Francisco and people have been very interested to see what would be presented this year.  Apple Inc. Chief Executive Steve Jobs showed a super-slim new laptop, it is less than an inch thick and turns on the moment it's opened.  It comes standard with an 80-gigabyte hard drive, with the option of a 64GB flash-based solid state drive as an upgrade.
Jobs also said Apple will be getting into the online movie rentals business, mentioning an agreement with all six major movie studios to offer films over high-speed Internet … (3 comments)

Closing Costs Explained: Understanding Points, Rates and Fees - 11:18 AM
Not only do you have to understand what type of mortgage you should choose when buying a home, you have to understand the costs associated with your mortgage. Yahoo! Real Estate explains a few of the costs that will be paid upon closing your mortgage.  
Purchase Points
Purchase points, also known as a "buy-down" or "discount points," are an up-front fee paid to the lender at closing to buy-down or lower your interest rate over the life of the loan. Each point is equal to one percent of your total loan amount. If you have a $100,000 loan, one point would equal … (1 comments)

Home Makeovers: The Right Upgrades for the Ages - 11:29 AM
 
We've all seen those fashion faux pas: muscle shirts that only accentuate middle-age spread, or tight, low-cut jeans that turn soccer moms into muffin-top casualties.
According to MSN Real Estate and bankrate.com, you can make a home unfashionable in the same way by choosing the wrong pre-sale improvements.
Few real-estate agents will object to any upgrades made to your house prior to putting it on the market. But rushing ahead with improvements you think will elevate the asking price can seriously deplete financial reserves that should be used to fix more fundamental flaws.
Making targeted improvements
There are age-appropriate makeovers based on … (1 comments)

Northern Colorado Real Estate- As Seen on TV - 11:16 PM
Over a month ago, I was invited to attend what I thought was going to be a real estate video seminar. Well, I was wrong but I'm not complaining about it. CBS News Channel 4 (http://www.cbs4denver.com/) invited a select few real estate agents to participate in what amounts to 15 second commercials promoting the agents and their listings. Starting on January 9th, you may see me on TV. The commercials will highlight agents in a specific area and we (Nanci Garnand) and I will be sharing the whole Northern Colorado region from Longmont north to the Wyoming border. I'm pretty excited … (1 comments)

Boyd Lake North 2007 Market Stats- As Seen on nocoHUB.com - 11:19 PM

As you can see, all price ranges are struggling but Boyd Lake North does not have a lot of inventory either.
All statistical information used to create this report was obtained from IRES MLS.  Information Deemed Reliable but not Guaranteed.  Does not include lots for sale or for sale by owner listings. Information as of 1/1/2008.
… (0 comments)

Boyd Lake Shores 2007 Market Summary- As Seen on nocoHUB.com - 11:26 PM

The higher price ranges in Boyd Lake Shores have been slow movers and the 500-700K price ranges have almost been non-existent.
All statistical information used to create this report was obtained from IRES MLS.  Information Deemed Reliable but not Guaranteed.  Does not include lots for sale or for sale by owner listings. Information as of 1/1/2008.
… (0 comments)

Thompson Crossing 2007 Market Summary- As Seen on nocoHUB.com - 11:29 PM

These stats are somewhat unfair.... Thompson Crossing is a very new sub-division making the inventory too new for a good sampling. Hopefully speculation will slow and sold units will catch up to the current inventory.
All statistical information used to create this report was obtained from IRES MLS.  Information Deemed Reliable but not Guaranteed.  Does not include lots for sale. Information as of 1/1/2008.
… (0 comments)

High Plains Village 2007 Market Summary- As Seen on HighPlainsExpert.com - 11:49 PM

                                Another Point of Reference (see below).
An anomaly has occurred in High Plains Village. The current inventory has single family actives doubling the attached dwellings (condos/town homes) and less than 30% of the total units built. The upside down affect if you will.
All statistical information used to create this report was obtained from IRES MLS.  Information Deemed Reliable but not Guaranteed.  Does not include lots for sale. Information as of 12/27/2007.
… (2 comments)

How to Make a Million Dollars in Real Estate! - 05:20 PM
Wow three years in Real Estate.  I never imagined how popular I would be.  Constant phone calls from people want to help me succeed.  All of them with programs guaranteed to make me a success.  Imagine helping me reach the pinnacle of a Real Estate Agent, all for a small fee; up front of course.  Success is guaranteed for there very small fee.  There is lead generation and lead capture, mass mailing and targeted mailing, software and systems, books galore, classes and more.  If only I had the money I would never need to work again, well maybe just a few … (7 comments)

It is a New Day in Washington ! - 08:15 AM
So, the DC schools systems were not up to snuff. Everybody in the area knows that. They have been in disrepair for quite some time. It seems that every Mayor has come into office saying that something will be done and every Mayor has left office with the schools in pretty much the same condition as they were when they arrived.
Mayor Fenty did not wait. He announced sweeping changes and brought someone into his administration that will get it done. It is a New Day in Washington, D.C.
There have been questions about the way that the District of Columbia operates in … (12 comments)

Pelosi brings big changes to Congress! - 05:14 PM
Having failed to bring about any of the promised changes on her election to Speaker of the House, Nancy Pelosi has finally been able to deliver on something!
No it is not pulling troops out of Iraq. No it is not health care for all. No again, it is not that Congress will work harder (in fact they now have Fridays off!). And of course it has nothing whatsoever to do with the economy. I mean why the heck should we worry about that?
No if you are Nancy Pelosi the big change she has managed to get through Congress is to change … (32 comments)

We are looking for Dallas Agents- Lead Provided - 10:12 PM
NHS realty is looking for Dallas Agents to work our Dallas Leads. You must be willing to join the Metro-Tex board. We have a few different plans but the best one is where we provide your leads. http://www.nuhomesource.com/employment.php All of our current agents are in Fort Worth and don't want to drive to Dallas to close deals. The commission is based on a few options. We offer 100% plans (with no Leads)and commission splits with leads. All agents work from home. We are an internet based real estate company. You do not have to go to the office. No phone time … (0 comments)

How to Choose a Realtor in Santa Cruz, California - 01:44 AM
Whether you are buying or selling property in Santa Cruz, you will want to work with a qualified real estate agent. The Santa Cruz real estate market is highly competitive, yet has some unique characteristics that make it necessary to work with a professional. Here are some tips to use when choosing a Santa Cruz agent to help you with your real estate needs.One characteristic that you must demand of your Santa Cruz agent is experience. However, you don't just want an experienced Realtor, but you want a Realtor with experience in the Santa Cruz market. Purchasing or selling property in … (0 comments)

Georgia Foreclosure Story - 01:28 AM
Just read in the Atlanta Journal constitution that Foreclosures in Georgia have risen 45% from the same figures last year for homes that are on the foreclosure list according to Equitydepot.com.
6,992 are on the roster to be foreclosed on in the next month...yikes!
Here is a link to the story...make sure you read the comments at the bottom of page of link, that people from around the Georgia area have made....makes for some interesting reading!
the link is:
Foreclosure Article
or
 http://www.ajc.com/business/content/business/stories/2008/01/14/foreclosure_0115.html?cxntnid=bn_2008-01-14_16_49_id433_e
It would be great if Local Realtors would add their comments on this article
the folks at LantierRealty.com
… (3 comments)

Conversational Bloggings - 03:59 PM
I have been blogging off and on several sites for about a year now.  One thing I have noticed with a majority of collective blog-sites  is that very few comment on a single blog....makes me question how community can develop.  Now, don't get me wrong...I know we are all busy efforting to gain exposure and SEO but would it not be more interesting and more develop-mental for us to leave a comment now and again to create a conversational story. As Real  Estate Professionals some rapport would offer prospective clients some develop-mental conversation between Realtors on topics of interest to them and hold their attention for awhile … (0 comments)

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