Archives of real estate blog entries for February 21, 2008

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You Get What You Pay For! - 04:48 PM
   How many times have you heard that before?  I would hazard a guess and say that pretty much everyone who reads this blog has heard that phrase at some point in their lives.  Do you believe it?  For me, it depends on the situation. 
   For example, several years ago there was a craze over little bean bags shaped like animals.  Does anyone remember that?  That's right, the Beanie Baby craze.  At the height of this madness, people were willing to pay literally thousands of dollars for these little bean bags that cost their manufacturer mere cents to make.  Today, … (43 comments)

The Anatomy Of A Foreclosure: The Sad Decision to "Let the House Go" - 12:10 PM
****Good Morning America called me this morning and asked to interview the real "Jake". Jake agreed and will appear on Good Morning America tomorrow, (Saturday). Segment is on the housing crisis in California. Talk about the power of ACTIVERAIN! For anyone who wants to see the REAL "Jake", tune in tomorrow!
It is the call that every mortgage broker dreads.  "Should I just LET THE HOUSE GO?"  
The house, which was owned by both Jake (not his real name) and his brother, had been purchased with 100% financing in an overheated  California market, resulting in a $500,000 price tag (now worth about $325,000). Along with it, came the requisite $500,000 mortgage and the … (86 comments)

What Buyers Are Saying About Your House - 01:10 AM
Spring is right around the corner, the beginning of the traditional "hot" time for selling a home.  I've been out showing homes to several different potential buyers in the last few weeks and have had the chance to get their honest impressions and assessments of the homes we are touring.  It's information that home sellers who can't figure out why their house is sitting on the sidelines like a wallflower at the high school dance need to know.
 
Your new roof is not an upgrade.  Neither is your new hot water heater or the laminate flooring you installed yourself.  Buyers … (113 comments)

A Call to the Experts – Transaction Management - 06:47 PM
In the last year or so I have been struggling to fine tune my processes.  The one area that has been a bamboo shoot under my finger nail is transaction management.
A year or two back I took on Top ProducerTM software.  I found many problems with the software including it took out my PDA phone.  It was quite cumbersome.  The amount of time I spent managing transactions increased tremendously.  The reports were poor at best and not editable.  So I created and Excel spreadsheet that seems to do the job.  Unfortunately it is not the best way to share information.
A few … (69 comments)

Are We Complying with the "Do Not Call" Rule - 06:20 PM
The Telemarketing Sales Rule prohibits calling anyone who has put his or her telephone number(s) on the National Do Not Call Registry. This doesn't help us much since we do a majority of our business over the telephone. The saving grace is "The Established Business Relationship Exemption."
We can make calls as long as we have an established business relationship with a person,  as long as they do not ask us to stop calling them and request we put them on an entity-specific Do Not Call List. The Telemarketing Sales Rule identifies two kinds of established business relationships:
the consumer's purchase, rental, or … (48 comments)

How to Use Your ActiveRain "Statistics" Page - Viewing Your Subscriber List and Blog Entry Stats - 09:17 AM
Recently, I have written a couple of posts wherein I mentioned thanking my subscribers and the number that I had at the time.  Several people (not all of them were newbies) contacted me via comments and emails asking where to find this information.  There are actually two places that I would direct you to, one of which you probably see pretty often.
On the "My Home" page, the number of subscribers to your blog appears as the last number in the blue shaded block at the top:

If you want to see which members have actually subscribed to your blog, go to the bottom left … (116 comments)

What Would You do if You Received a Call Like This One? - 09:18 AM

I just received a call from a woman that said she found me on the internet.  What she wanted was for me to tell her how much she should sell her house for.   She said she didn't need an agent because they buy and sell their homes on their own.
I told her that I cannot help her price her home if she is going to sell it her self.  I said she can go to my website and see what like homes are going for in her area and if she decides she needs help I would "love to help her."
What … (155 comments)


Blog posts


Nice recovery in the ten year treasury today - 07:06 PM
Finally some news that should be positive for mortgage rates.  The 10 year treasury bond rallied pretty good today (yields down).  The yield dropped closed the day at 3.78% down from 3.92% just the other day.  All things being equal this should provide some relief to fixed mortgage rates from the drive upwards they've had the last week.
The main catalyst for this drop in rates were too awful economic reports this morning.  The Philadelphia Fed manufacturing index coming in at -24 vs an expected -10, where any negative numbers indicates contraction instead of growth.  The conference boards leading indicators came … (9 comments)

A jumbo cram down: Bank lobbyists 1, Tax payers 0 - 08:06 PM
This post is a break off of one item in my post Your credit market update and some of the comments, particularly one from Michael Tarabotto.  As most people an economic stimulus bill was recently passed.  This bill includes several items that are supposed to help the economy and particularly the housing issues, including tax rebates, business tax incentives, and also raises the FHA loan limits allowing GSE's (Fannie mae, Freddie Mac) to buy jumbo loans.  It's this part that I wanted to focus in on...
This raising on the FHA loan limits was sold as helping the jumbo loan market, and … (8 comments)

Global Warming....Earth Hour 2008! Spread The Word... I'm In..Are You? - 06:35 AM
"Coma State"....ever heard of it?...that's right if we do not do something to help preserve our resources...that is exactly what could happen to the human race. While some question global warming...the signs are there...

Temperatures are adjusting...polar caps melting. climate changes...that could drop our population from billions to millions..and we seem to use many of our natural resources in excess.
That's right...in excess...definitely a cause and effect action will occur..and we as humans continue to be wasteful regardless of the warning!...
While we may not feel the direct effects...you can bet your children will and their children will.
Is that the legacy … (10 comments)

The Sky Is Not Falling In New Haven County.... - 06:11 PM
So don't be a Chicken Little! Uncover your eyes and find out what is really happening in YOUR local Real Estate Market!Now that the media moguls have eased up on their mantra "The sky is falling in all Real Estate markets"  it seems everyone is finally ready to look more closely at what is happening in their local  Real Estate market  (information CTHomeTeam  reports on monthly on our web sites)Click here for the full story.
 
… (0 comments)

What Would You do if You Received a Call Like This One? - 09:18 AM

I just received a call from a woman that said she found me on the internet.  What she wanted was for me to tell her how much she should sell her house for.   She said she didn't need an agent because they buy and sell their homes on their own.
I told her that I cannot help her price her home if she is going to sell it her self.  I said she can go to my website and see what like homes are going for in her area and if she decides she needs help I would "love to help her."
What … (155 comments)

Note to Mr. Telemarketer From Homes.com - 04:53 PM
I normally don't answer my cell phone when I see the call originates from a toll-free number because it's normally a vendor trying to sell me something (usually search engine placement or lead generation).  But today I let one of those 800 numbers go to voice mail.Most vendors do not leave a message because they know you'll most likely not return their call.  But this one did.  I could tell it was some kind of company but they called about a property they were thinking of selling and gave me the pin number and wanted a quick idea of value.I did … (8 comments)

Top 5 Tax Myths of Homeownership That Could Cost You - 07:09 AM
 
Owning a home tops the dream list for most Americans, and for plenty of good reasons. It's a shelter for your family, a gathering place for your friends and a good long-term investment.
Tax breaks are also frequently cited as motivation for moving from renting to owning, and there are many ways a home can cut your tax bill.
But, as is often the case with the U.S. tax code, homeownership tax benefits are not always clear-cut. That frequently leads to some bad information floating around.
While myths, half-truths and misconceptions may abound, Bankrate.com has narrowed it down to five that, if you buy into them, … (5 comments)

How to Beat the Seat Cheats - 11:20 AM
I am not sure what this has to do with real estate accept how to spend my money before I earn it. 
from todays RIS Media  By Marshall Loeb
RISMEDIA, Feb. 21, 2008-(MCT)-Buying tickets for shows, concerts and sporting events online is akin to walking a virtual tightrope, with box offices and authorized companies on one side and ticket scalpers scalpers on the other. Fall on the wrong side and you will likely have to deal with outrageous prices and refused refunds. To avoid getting fleeced by shady ticket sellers, which often disguise themselves as legitimate websites, heed these six tips from … (0 comments)

JJ Pearce Richardson TX to be on TV Land's High School Reunion March 5!! - 09:46 AM
This is so crazy!! Nothing ever really happens around here!  I went to JJ Pearce High School in Richardson, TX.  I was part of the graduating class of... hmmm, I know you guys think I'm young, but do you know how young?  Age doesn't really matter when you've been in this industry for 8 years, so I can proudly say, I was part of the class of 1994- graduated with Advanced Honors which isn't too shabby if I do say so myself....
Anyway, premiering on March 5, 2008, they are putting a lot of alumni from JJ Pearce on a "sun- … (0 comments)

Filing Texas Homestead Exemptions- First Reminder - 10:33 AM
Here is your first reminder to file your Texas Homestead Exemption form if you closed on your home by December 31, 2007.  I like to remind people towards the end of February because hopefully you're done with your Holiday bills, and worrying about your W2s (1099's) from your employer, and you're starting to get your tax information ready.
You have until the end of April to actually file, but why wait until the last minute.  Also, if you closed in 2008, you CANNOT file for this year.  You must wait until next year before the end of April to file your exemptions.
It's … (4 comments)

Chris Tesch, Where are you?! - 12:23 PM
Chris oh Chris, where are you?  I see you slowly dropping down the ranks in Texas.  Is everything ok?  I know the market is strong in your area, so are you just so busy with all your buyers and sellers that you have no more stories to tell about them? 
What's going on down there in Aggie Land?  Are you upset that the Longhorns kicked their arse at the last basketball game?  Maybe you're getting ready for the Presidential debate and you're driving to Austin.
Come back, we miss you!
… (0 comments)

Baseball the way it should be. - 11:24 AM
 
Baseball the way it should be.
 
Every year at this time when the big boys are back at in Arizona and Florida I think about my baseball "career".   I played little league baseball here in Turlock Ca.  I definitely was not a super star (couldn't hit) but I loved to play the game.  I had lots of fun and made lots of friends, some that I still see to this day.  So if your son or daughter wants toplay baseball this spring and summer here in Turlock be sure to check out the Turlock Little League website for all … (3 comments)

Environmental impasse! This is a good one! - 09:00 AM
This could be my favorite environmental story ever! Two neighbors are going at it - in California of course - and the question they need resolving is quite frankly, who is more environmentally friendly!
You see a man has now asked prosecutors to file charges against his neighbors because their towering redwoods blocked sunlight to his backyard solar panels!!
But the couple next door insisted they should not have to chop down the trees to accommodate Mark Vargas' energy demands, because they planted the redwoods before he installed the solar panels in 2001. Experts say such clashes could become more common as California … (13 comments)

So you think you want socialized medicine? - 07:55 PM
Back in the land of my birth - and indeed the birth of socialized medicine - things are not going too well right now with the National Health Service. This is really important for you and your family to understand.
First though, let me give you a quick lesson of how it works. All health care is free at the point of delivery with the exceptions of prescriptions. Now please note I said free at the point of delivery - they are far from free and it now no longer includes dental because the dentists refuse to work for the Government and … (27 comments)

Photography Group: New Moderators - 06:16 AM
 
We're pleased to announce that the Photography Group has added two new moderators.
             John Hokkanen
          and 
             Lee Jinks
The group has grown tremendously since I first clicked that "Create Group" button back in November of 2006, with the simple idea of collecting a few of my basic essays about understanding exposure.  Thank you everyone!
Also please remember, and I know everyone is good about this, but just for the newcomers, please don't add a blog post to Photography Group unless the post is actually about ... ahh... Photography.
We've always covered all aspects of Photography from equipment, tips and techniques for taking photos, … (7 comments)

HOME BUYER ALERT...mortgage rates keep increasing!!! Go Buy that HOME - 11:18 AM
Home Buyers...NOW may very well be the time to make the leap to home ownership as Mortgage rates continue to climb for two distinct reasons... investors fear continued inflation while banks and Mortgage Companies,  because of the slew of foreclosures are moving interest rates higher to recoup their losses. You will not hear Lenders speak about increasing mortgage rates because of the increasing losses they are incurring because of foreclosures they are eating but you can bet that is the reason they are.  Since foreclosures are still on the increase and mortgage rates are very likely tied to the increase, NOW may be the best time to get … (1 comments)

83 Buffalo Homes face Eminent Domain - 03:56 PM
Peace Bridge Construction - Eminent Domain a possibility for 83 Buffalo homes
Another hot topic in Western New York is the planned construction around the Peace Bridge and the possibility of eminent domain enacted on 83 Buffalo homes. The Peace Bridge, connecting Buffalo to Fort Erie, Ontario has been an icon in the Western New York Region for 80 years, but it needs a complete make over and improvements.  
The Peace Bridge was first constructed in 1925 and the Peace Bridge Opened in 1927.   When the bridge opened it became the main port of entry from Canada into the US, and was named the … (2 comments)

Mistakes to avoid when selling your Buffalo home - 04:23 PM

Selling your Buffalo home should be treated as any other transaction. It should be made without emotional involvement.
Many times Buffalo Sellers use their hearts instead of their heads when making such an important decision as listing their home for sale.
By not thinking objectively, it costs Buffalo home sellers important time and money. In some instances, it can cost even more than that. To prevent this from happening to you, don't make the three biggest mistakes when listing your home for sale.
Read about the three most costly mistakes Buffalo Home Sellers make at Your Buffalo Home - Selecting the Right Agent … (0 comments)

Search for a Denver Home - 06:19 PM
When you are facing a relocation to a new city, what do you Google?Relocate to Denver?
Denver Real Estate?
Denver Homes?
Houses for sael in Denver?
What do you need to know  first
What do you want to know first?
Comments solicited!
 go to http://www.denverrelocation.com/KeywordSuggestion.asp and make your comments.
Thanks
… (0 comments)

Pricing and negotiating "short sales" in Poinciana FL. - 09:05 AM
Hi folks. Today I'm going to talk a little bit about short sales. As way of disclosure, I want to mention, that I am NOT an expert on short sales. However, I am an experienced Broker in Florida and do have short sale knowledge. I just prefer to not handle many of them.
But....I want to see if I can help when it comes to working with Sellers of short sales. How to price the property properly and how to negotiate the deal.
First, if you are a Seller facing foreclosure, a short sale could be a viable solution for you … (21 comments)

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