Archives of real estate blog entries for May 1, 2008

Featured blog posts


Point And Shoot Cameras. The Wider The Better. - 12:46 AM
When it comes to digital point a shoot cameras,bigger is not necessarily better, but wider certainly is. One of the first posts I wrote on ActiveRain was titled, "Sell Your Camera On eBay & Buy This One."
That post was written about the Kodak v705, which, along with the Kodak v570, would still be my recommendation for a point and shoot camera. Unfortunately, Kodak decided to stop making both the v705 and the v570 and they are getting harder and harder to find. So I was forced to find another camera I could feel confident recommending.
My search led me … (79 comments)

About foreclosures: How the banks can help turn around the economy and neighborhoods in Macomb County. - 01:08 PM
I have a very simple plan for the bank owners of foreclosed homes in Macomb County and the entire Metro Detroit area. In fact, it's so simple that the banks probably won't even consider it, let alone put it into practice.
Part 1: Turn the utilities on. Pay $40-$60 per month to keep the heat on at a minimal temperature, and to keep the electricity on for sump pumps, security and a potential buyers comfort while viewing the homes.
Part 2: Hire local unemployed contractors and handymen/women to take care of urgent repairs. IE roof leaks, mildew/mold removal, broken windows.
        … (62 comments)

Beaverton Oregon Real Estate Advice: Todd, we found you on Activerain, can our agent do this? - 11:57 AM
I love to hear the first part... that someone found me on Activerain. But the second part, about can our agent do this? Oh, I hate to hear that, because I usually know that it isn't good, and more than likely, it is going to be a legal question that I can't answer anyway.
Well, today's question that was brought to me was this...
Myself: Thank you for calling this is Todd, how can I serve you today?
Seller: Todd, my name is blank and we have a home for sale and we found your name on Activerain.
Myself: Great, how can I help today … (64 comments)

It is Finally Here... May 1, 2008. StagersLIST.com - 12:51 AM
(57 comments)

I know Open House is REALLY Geared Towards Buyers, But. . . . . - 12:53 AM

I am not a big Open House fan.  Yes, in the busy market it was a great tool but we all know that it is a pacifier in the mouth of a seller.  They want to know we are earning our keep.  With all of the fabulous virtual tours that are done now, we can skip the 1970's way of marketing homes. 
 I also explain to my sellers that open house is mostly designed for agents to pick up buyers.  Yes, we are going to show and try to sell your home, but the chances of someone wandering in off of the street … (67 comments)

One Dead Goose and Another Loan Goes Belly Up: How Declining Value Restrictions Hurt Property Values - 12:52 AM
She leaned against the doorway of my office, this messenger of bad news, like so many before her had done. My consolation prize? A large Butterfinger, which had been placed on my desk before she retreated quickly back to the doorway. She didn't dare to sit in the chair (and consider herself a guest in my office).
I guess bad news is easier to deliver from a safe distance with chocolate on the table. I should remember this.
She was the rep that had been dispatched from Bank W to tell me that another one of my loans had bitten the dust. You would think by now that … (66 comments)

Stunning New Underwriting Guidelines to Affect Condo Ownership - 12:54 AM
For owners of condominiums who want to sell or refinance, some stunning changes and challenges lie ahead.  In market areas across the entire country, things are looking to get more difficult for condominium owners to sell or refinance a condominium.
Announced effective May 1, 2008, if you own a condominium in a declining area, a major private mortgage insurance, AIG, will no longer write coverage.
Their decision is supposedly not going to be affected by the applicants standing on the application. This is not about the applicants credit score or assets. It is about whether the condominium subdivision where the home is located is situated … (61 comments)

Less work? Then charge less. - 06:30 PM
I was talking to a real estate broker friend of mine (who also owns a mortgage brokerage) earlier this week about Zillow Mortgage Marketplace (see my earlier post here) and he said something interesting to me. He said that his mortgage brokers are having good success finding borrowers through Zillow Mortgage Marketplace, and that he had hired a junior loan officer just to respond to Loan Requests on Zillow. But he said that he was going to do a better job encouraging his loan officers to quote more competitive rates in line with the effort required from the channel.
His point … (34 comments)

Imagine Having 48,000 Subscribers-Problogger, Darren Rowse Reveals. - 01:11 PM
Ok, you have probably heard me say it before about some of my online crushes, yes I have many, all of them so dreamy and so talented. Sounds like I am a wild child, well yes I am but the funny thing is even with all of these crushes I am still devoted to one man...the love of my life...the computer scientist.

The computer scientist sometimes nags me and sometimes he gets very jealous..
You see my online crushes are talent crushes and I have to say since blogging I spend more time reading and reading.
We both love information … (42 comments)

Listing Agent Tells Buyer "I'll represent you, my Dad will cover the seller." - 05:45 PM
So as a broker I have to deal with issues that come up with my agents.  This week's issue is one of procuring cause. I won't get specifically into that part, but I wanted to share one thing that seemed pretty laughable. 
Oh wait, I wanted to get your unbiased opinion...
The listing agent is part of a team. This agent is listed as the main agent, the father is the Alt Agent. She told the buyer that she didn't believe in Dual Agency, yet she could represent the buyer, and her father (team member) would represent the seller.
Here is the exact email … (57 comments)

One Ringie Dingie...Two Ringie Dingie...ROAR! - 05:57 PM
Today I found myself with a bit of time on my hands so I decided to spend that time making a few prank calls. The calls I made were to Members of Active Rain. I selected just a few victims Members I have never spoken to. I called them and the following are highlights of my calls. To say I had FUN with this would be an understatement. Check out what I did to these victims Members :)
My first victim Member…Susan Mangigian...One Ringie Dingie. Two Ringie Dingie… “This is Susan” “Hi Susan. I am calling to find out what you … (119 comments)


Blog posts


Imagine Having 48,000 Subscribers-Problogger, Darren Rowse Reveals. - 01:11 PM
Ok, you have probably heard me say it before about some of my online crushes, yes I have many, all of them so dreamy and so talented. Sounds like I am a wild child, well yes I am but the funny thing is even with all of these crushes I am still devoted to one man...the love of my life...the computer scientist.

The computer scientist sometimes nags me and sometimes he gets very jealous..
You see my online crushes are talent crushes and I have to say since blogging I spend more time reading and reading.
We both love information … (42 comments)

Surprise Party for Chris Elizabeth Griffith-Bonita Springs, Florida Real Estate! - 09:41 PM
 
Today is officially Chris Elizabeth's birthday but for me birthday's usually last all week..since tomorrow is my favorite day of the week and I celebrate every Friday with a Friday dance.. let's surprise her with some really incredible wishes.
There is a good chance she won't see this til the morning...she gets up before the roosters! 
I had the opportunity to meet Chris at the Activerain Birthday Bash. You can find her on twitter..its her sense of humor I so appreciate. Here are some of my favorite posts!
In the true spirit of Chris's online presence...Help me Celebrate her birthday Chris Elizabeth Style! … (18 comments)

Market Report for May 1, 2008 in Milford, Orange and Woodbridge CT - 08:37 PM
Todays Hotsheet there were 4 new listings in Woodbridge CT, 2 new listings in Orange CT and 4 new listings in Milford CT.
1 listings back on the market in Woodbridge and 4 back on the market in Milford CT
2 Price reductions in Bethany CT Lot 5 Early from 889,900 to 849,00 and 24 Early Court from 1,069 to 990,000 
Woodbridge had 3 price reduction 16 Salem Rd from 434,900 to 419,900, 19 Cedar Rd from 929,900 to 919,000 and 15 Nettleton Dr from 1,299,900 to 1,199,900
In Milford 20 Audubon Close went from 394,900 to 379,000, 267 Melba Street from 224,500 UP to … (0 comments)

ePerks - 04:24 PM
I found this website some time ago ePerks.com. This is where you pay a 19% referral fee and they give 80% of the referral fee back to the buyer/seller whoever contacts you thru the site. Now I (WE) all pay referral fees all the time so all I can say is.... what a marketing tool. We all have, at one time or another, help out a client with a closing cost or a repair of some sort but how nice is 19% to advertise and most of it goes back to your client? 
Has anyone advertised with this company? There is no … (1 comments)

The hidden cost of bad advice ...... - 11:32 PM
So the usual suspects were enjoying a little glass of wine after work. Conversation went from the plight of losing a listing to the horrors of dealing with short sales. Eventually, the "forbidden fruit" of commission was discussed.
One agent lamented that co-op commission being offered is not always 3%. She could not believe that agents were only offering 2.5% and in some cases......2%.  She felt that in this "market" it was very poor judgement to offer anything less than 3%. She went on to share that, if you really want your listing to be shown..you should offer a bonus on … (26 comments)

Central Florida Realtor Safety Alert!! - 08:55 AM
Yes the pervs are out there again!
Several female Realtors® in the area have reported receiving similar obscene/threatening calls from a man who claims to live a few houses down the street. The calls are made to the agent's cell phone with the caller's number blocked. The caller tells the agent that he has personal issues and begins to speak very inappropriately. He also threatens the agent with harm if the agent calls the police. Both the Winter Park and Orlando police departments have been notified. 
________________________________________________________________________________________________________
(Copyright © 2008 By Simon L Conway All Rights Reserved.)
Please give me a call if you have questions about the Central Florida real … (5 comments)

Grand Theft Auto IV - WHAT IS WRONG WITH YOU PEOPLE?? - 09:52 AM

So there were lines at the stores at midnight on April 29, wanting to be the first people to own this highly successful video game.
Let me state very clearly that I don't play video games and I don't own a video game machine, but I do know about this game and it makes me sick.
What is wrong with our world when this comes out and there is not one word of complaint anywhere in the mainstream media?
As I understand it, during the course of this game you can pick up a prostitute; have sex with her and then beat her to … (43 comments)

Obama in serious trouble over Wright - 02:45 PM
The Obama campaign is imploding with the latest polls showing that although he will still win North carolina, it is going to be close. Before Wright spoke at the National Press Club, Obama had a 16 point lead over Clinton.
The Rasmussen Reports daily Presidential Tracking Poll for today shows that Barack Obama's Pastor friend, Jeremiah Wright, has had a significant impact on the race for the White House. The news is not good for Obama.
In general election polling John McCain now attracts 46% of the vote while Barack Obama earns 43%. Just before Wright had his press conference on Monday, … (25 comments)

Is Your Economic Stimulus Check Right? - 12:59 PM
Many recipients of their economic stimulus check is not what they expected! How could this happen? The economic stimulus check or rebate check is based upon two factors which were not fully discussed in most the literature disseminated to the public.
The factors are AGI (adjusted gross income - line 38 on form 1040) and the amount of income taxes you needed to pay in 2007 (sometimes called tax liability). The income taxes you need to pay is the total amount of income taxes and does not consider if you are receiving a refund or if you have to pay more money.
On … (0 comments)

Google The Address Of Your Listing - 07:34 AM
Pick one of your listings.  Google the address.  Does the listing entry at Trulia come up in the top three Google results?
Trulia seems to have gained the top spot for many addresses.
There is a very interesting post by Galen Ward over on Bloodhound Blog about the how and the why of this.  Read all the comments, too.  Good discussion.
One of the comments suggested that this information should be made available on Active Rain ... and, there,  I just did.  :-)
(13 comments)

Recent Western New York Real Estate News - 10:28 PM
Mortgage & Finance - Why you should pre-qualify for a mortgage before you start your WNY home search!»
You might have an idea of the loan payment and mortgage you can afford in Western New York. Lending requirements are changing rapidly in today's market so the bank might not agree with your thinking. Do you really want to find the absolutely perfect home only to find out you cannot get the mortgage for it?
Niagara County - DeVeaux Homes Market Report April 25, 2008»
The Real Estate market in DeVeaux is heating up since the prior market report. Here is a summary of what … (4 comments)

Ants in the House: It's That Time of Year Again! - 04:22 PM
This morning marked the first day of the Spring Ant Invasion Season at my house... I woke up to find them streaming through an electrical outlet above my kitchen counter.
Since I'm "going green" as much as possible, using toxic ant sprays, especially in my kitchen, is not an option.
Here are some "green" tips for taking care of ant invasions:
Keep kitchen counters clean! Make sure there are no food products or food debris left on the counters overnight. Easier said than done with kids in the house, but if you leave your counters clean overnight, you'll have less chance of them … (2 comments)

ORV Beach Access Settlement Signed By Judge, Battle Rages On!! - 07:22 AM
The judge in the ORV Beach Access Lawsuit finally signed the temporary settlement agreement that was reached last week. Below is the outline of the agreement from the Island Free Pressalong with closure guidelines and maps showing the areas that will be part of the settlement. The battle is still ongoing until 2010 as a final ORV plan must be reached by then. This morning a local Dare County Commissioner spoke about how this is the first  step in the beginning of total closure of the beaches on Hatteras & Ocracoke Island by the environmental groups that brought the initial lawsuit. Their goal is to have complete access … (2 comments)

Sometimes You Need To Step Back For Awhile - 04:13 PM
Last Sunday evening I departed Fredericksburg VA for a meeting of the CyberProfessionals which was to be held in Pittsburgh PA.  For the first time in a long time I was not driving.  I had a wonderful chauffeur; fellow Active Rainer Jim Crawford.
Energized.  That's how I feel.  Energized!
The last time I was in Pittsburgh was when, as college students, my wife Carol and I went with two other students down to Zelienople, PA to spend a weekend at the home of one of our parents.  On Saturday night we all went to visit the city of Pittsburgh.  Needless to say I … (2 comments)

10 steps to buying a Knoxville or Farragut Tennessee home - 03:09 PM
Buying a new home in Knoxville or Farragut Tennessee is easier than you might think.
Find a qualified Buyer’s Representative: Since most of us only buy real estate a few times in their lifetime doesn’t it make sense to have a Buyer’s Representative to provide complete and fair representation for you? The sellers already have a listing agent to look out for their best interests. As an Accredited Buyer Representative (ABR), I’m qualified to consult with you about buying and represent you in your home purchase.Read the rest of this information article about buying and request a free "Homebuyer's Toolkit" here … (2 comments)

Portsmouth New Hampshire Homes - 8 Tips For Great Curb Appeal on a Budget - 07:35 PM
                                     Portsmouth New Hampshire Homeowners - Spring is HERE! 
With the advent of spring, thoughts turn to buying and selling real estate in the Portsmouth New Hampshire and Maine Seacoast areas.  If you're a homeowner thinking about putting your home on the market, you really want to create some great curb appeal that beckons buyers from the road to come on in and see the rest of what awaits them inside.
Creating nice curb appeal doesn't have to cost a lot of money.  There are plenty of things you can do that are pleasing to the eye and really cause potential homebuyers … (18 comments)

Portsmouth NH Real Estate - Absorption Rates and Why They're Important - 08:38 PM
If you're a property owner in the Portsmouth New Hampshire area, or anywhere for that matter, one of the things that's really important to know in today's real estate market is the absorption rate for your area. 
What is that, and more importantly, why should you care about it?
The real estate absorption rate tells you just how long it would take for the buyers out there in the market to absorb the current inventory of homes or condos with no more new listings coming on the market.  We start with the number of sales that took place within a specific period … (0 comments)

Loan Products and Services Currently Offered By Me :) - 10:45 PM
Realtors and Fellow Finance Professionals,  
As a real estate finance professional its important to display what types of loan services are currently offered here in southern California which is my primary target market. I can lend in 35 other states as well. Lending guidelines have currently changed but in my opinion for the better. Appraisals values are getting cut by lenders due to the number of current foreclosures across the nation. Full income documentation is the norm but there are a few banks that are offering stated income loans but their requirements are pretty rigid. Contact me if you have a scenario. … (7 comments)

St Petersburg Florida has a downtown airport - 01:16 PM
St Petersburg might not come up in your search for "aeronautical communities in Florida" because it isn't a fly in to your hanger that's attached to your house, but it IS a city where you can fly in and walk home. Yes, city. St Petersburg has about 250,000 people and is in the midst of the Tampa Bay area with over 2 million people - yet you can fly your plane in to the Albert F. Whitted Airport and walk just a few minutes to your condominium home - many with panoramic water views - or to your boat docked at … (2 comments)

Setting showing appointments - 01:38 PM
Listening to Rob make showing appointments for tomorrow, I found it interesting to hear the additional questions he asked the listing agents:
Is there a potential of this being a short sale?
(If so)
is the listing price approved by the lender or just a figure you're hoping will be approved by the lender? how far along in the process are you with the lender? is the seller approved? has the seller submitted all the required paperwork? has the property been appraised?are there any other offers on the table or other offers that have been submitted/approved/rejected? Has the seller been notified … (23 comments)

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