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Archives of real estate blog entries for November 12, 2009
Featured blog posts
Don't Lose Your Head: How to Survive a Bidding War - 08:42 PM
It's crazy out there. This fall real estate season is well underway and as a result hundreds of Lowermainlanders are suffering from PBWS (Post Bidding War Syndrome). Common symptoms include dizziness, lack of sleep, and a major case of the shoulda woulda couldas. For the uninitiated, bidding wars occur when properties are listed at a price that is below their actual market value, and multiple buyers submit offers at the same time. In a hot market like we've been witnessing in the Lowermainland for the past few years, multiple offers have become commonplace. We have been involved in a few bidding war situations with our clients (28 comments)
1) I love when a buyer finds their dream home. I hate when a buyer is too picky to ever find their dream home. 2) I love when a seller receives a good purchase offer. I hate when a seller rejects a good purchase offer out of emotion, spite or need for conflict. 3) I love when a buyer/seller chooses to work with me. I hate when a prior client lists their home with a different Realtor. 4) I love when I have a closing and get a fat commission check. I hate when I work with a seller/buyer for (82 comments)
Can a Lender Be Forced to Modify a Mortgage? - 11:27 AM
4 home owners are suing Aurora Loan Services because they refused to participate in the government sponsored mortgage assistance program (HAMP). The outcome of this lawsuit has far reaching implications. If the plaintiffs are successful, the courts are saying that a party can be forced to alter the terms of a contract, in this case a mortgage. If this should happen, banks will be extremely reluctant to lend money because at a nay time they could be forced to renegotiate the terms of the mortgage. This will mean fewer loans and higher interest rates.
It is one thing for a (25 comments)
Should You Tell Clients To Dispute Items On Their Credit Report During The Loan Process? - 04:50 PM
Should you tell your clients to dispute items on their credit report during the loan process? The most common response is typically, "Sure, why not?". If you are advising your clients to dispute credit items, you may be in for a big surprise. A few months ago, we prequalified a borrower looking to purchase an investment property. We knew the transaction wasn't going to be easy, but luckily she had come to us before she began looking for a home. After pulling her credit report, we discovered her FICO score was low; however, it still fell within the acceptable range to qualify for conventional financing. After analyzing the credit accounts, it was apparent that a (35 comments)
Work When You're Working - 06:05 PM
A couple of days ago I reblogged Clint Miller’s excellent post on things you must do if you plan to be a successful real estate sales person. One of the points he made was that it is vital to stick to a set working schedule – not allow yourself to decide that you don’t feel like working today. I agree with him. I also think it’s important to “Work when you’re working.” I can’t count how many times I’ve watched real estate agents sitting at their desks gossiping, or shopping on line, or playing video games. Now there are even (56 comments)
Short Sale Buyers Agents Know They Are in Trouble When..... - 06:17 PM
Short Sale buyers agents know they are in trouble when the short sale listing agent calls with this one: "The second trust is demanding that there be no closing cost assistance to the buyers and that the commissions be lowered." This was a gem that a co-worker of mine brought to me, looking for advice for her buyers. Evidently, the listing agent of her buyers' transaction is leaning on her and her buyers to take care of the second trust's demands. Of course, being an experienced short sale listing agent myself, I can cut right through the bull here and see the problem (59 comments)
I AM pulling my hair out. Should I start my day with a Brandy instead of coffee? - 09:25 AM
When is the last time you received a READABLE offer? I love new technology and I embrace it and if you know what you are doing, it actually works. You can get a READABLE copy of an offer or contract from A to B in no time with no hassle. If you do not know what you are doing and you cannot get a READABLE copy from A to B then PLEASE go back to the basics and snail mail or hand deliver it. What on earth is so complicated about that? Sorry I am venting, but for the last few (77 comments)
The question always seems to start with an Awww or an Ohhhh... How are you doing? How is it going? How are you holding up? How is the market? And the tone. always sympathic, as if they are giving condolences. And the expression, kind of looks like this puppy...
Then, when I respond with: G R E A T! (97 comments)
Hello - is anybody there? - 05:45 AM
I was talking to a Realtor that works for Keller Williams a while back. She was super excited to be with them because of how innovative they are. One of the things she pointed out was that they offer coaching. Their coaching is a little different with respect to how they get paid - the coach gets 10% of every closing. Personally I think that’s pretty cool seeing how the coach’s pay is directly connected to the results of the person being coached. So I asked her what the coach did for her. I’ll make it short and sweet for you (91 comments)
Foreclosures & Short Sales: "AS IS - WHERE IS" is not reason to skip the Final Walk-thru! - 05:31 AM
Check it, jot it down now or run the risk of being blamed later! With so many of the escrow transactions being foreclosed properties that are sold as is - where is - and if you the buyer is lucky there are some minimum repairs that the seller agreed to do. As agents we have to be right on top of our responsibilities and inspect and make notations that will be in the records at the time of the transaction as well as for later on - when we get that call of complaint about something not functioning in house! Department (57 comments)
Week of 11/09/09- Real Skillz Freebie Picks- Free Online Reads and Real Estate Marketing Resources for Real Estate Agents and Real Estate Companies - 12:43 AM
Week of 11/09/09- Real Skillz Freebie Picks- Free Online Reads and Real Estate Marketing Resources for Real Estate Agents and Real Estate Companies Fr.ee- A website where you can search for free things online Key in your search query and this website will produce results for your free stuff. You can also sign up for an account and this website will allow you to suggest websites that provide free stuff. Pretty simple, pretty cool, and a pretty good opportunity for savvy real estate professionals who provide free data to consumers to share this online on a website where consumers are (29 comments)
(ps, received some bonus points since this was in draft this afternoon so I am well above 500K!) I am very appreciative of the opportunity, growth, business, referrals and friendships that the fact that I am now worth "a half million". (yes points are important but not on the grand scheme of what that half million journey has brought me!) Remember when you were little and you talked about having a "million bucks" and all the great things you would do with it. Heck I probably would have retired in my early twenties if I had a million bucks. Not (98 comments)
Listing Surprise - 05:41 PM
You have worked hard to make yourself visible on the search engines. Finally one day it happens. You get a phone call from a real live seller. Found you on top of Google - YAY (you think). The sellers live out-of-state and want you to list their house asap! Just send the paperwork over and they'll send the key. (how easy is that!). You rush to a computer to get the paperwork ready. The sellers even agree to your pricing suggestion as they just want it gone. (oh, boy!). The home used to be rented but is now vacant. Everything is (97 comments)
Tales of a Newbee - 01:45 PM
After 15 years in investment management operations I quit the corporate world and started looking for my next career. I decided on Real Estate because I like the idea of being my own boss and the fact that I firmly believe in real estate; it's a good long term investment that also brings intrinsic happiness. Helping people buy a home - happy, happy, happy right? Well here I am three months later and I have just closed my first escrow. Happy, happy, happy? Not so much. Combine a probate with a traveling administrator, to clients with a flair for the dramatic, (59 comments)
I'm not a "pop-u-lar" blogger on AR, not the best reciprocator of comments, nor the most "rah rah" AR member. BUT I do my best to respect the network even though I may not be the "best" member according to how some people feel the network should be used. I don't go around bashing ActiveRain when I get irritated with something that occurs. I don't bash other members that may irritate me to no end. I am (90 comments)
YOUR Rain Profile-this is important - 12:39 PM
Okay, so I google Jay Beckingham Thanks to Active Rain, to a great degree, over two and a half pages of information about me appears. What's First? My Active Rain profile of course! You know what they say about first impressions, don't you? Then how important is your RAIN profile? You be the judge, my opinion, extremely important. Now, google Cape Coral Loan Officer; Who's first? Jay Beckingham What shows up? My Active Rain Profile, of course. To Active Rain I say; Thank you! Thank you! Thank you! Thank you! Thank you! Question? How important is your profile? You're intelligent people. You (28 comments)
Should I close my little one person office that I own and operate to join a larger office? - 12:11 PM
I have been lonely working for myself, by myself from my home. I used to co-own a larger local offce but needed to break up the partnership for a variety of reasons. Now I have been on my own for 2 years and am missing the comraderie of a larger office. The only office I would consider moving to is one at out local major ski resort. They have the captive audience. But do I want to loose my freedom and replace it with a social life where I could ski from my office and have perks or just bide my (37 comments)
Don't Ask this Question, Lose Money - 07:23 AM
It happened again. I won't elaborate on where, although it is tempting to ask what is in the water there, but, yet again, I open my email and have to handle it. Again. And it is my fault because I have a newer agent whom I did not prepare. For the umpteenth time in my career, a buyer who contacted us on touring a home, has played footsie with us getting an appointment confirmed, and seemed refreshingly eager to see the place, has dropped the bomb we ought to have avoided. There it was in my inbox at 6:26 AM: Hi, (81 comments)
Large Company, Small Company, or Your OWN Company? - 05:48 AM
Do I have to work for a large real estate company to be successful? This is a question I'm asked a lot by real estate agents. Here's my two cents...No! I'm sure others may disagree with my answer, and that's to be expected. I never worked for a large real estate company and seemed to do just fine. The key to your success isn't the size of the real estate company you work for, it's the effectiveness of your marketing.If you can generate and convert leads, you can be successful in any size company. In fact, I'd argue that you should (89 comments)
FHA 90 Day Rule can be a deal breaker! - 06:44 PM
Real Estate is the Hemet - San Jacinto, CA Valley is prime pickings for real estate investors - both those looking for the longer term strategy of buying and holding and thus creating real wealth as well as those who can pick up a property on the low side, do some re-hab and then flip the property for a quick and profitable sale.Unfortunately, there are rules the lenders have against financing a home that is being flipped and this excellent post that Rosemary Brooks wrote breaks it all down for you... Via Rosemary Brooks -Mother & Daughter (866)-750-8282 (Family Realty Group - (3 comments)
New Construction Homes for Sale - Falconhead West - Bee Cave - Austin TX - Part 2 - 10:04 AM
Falconhead West - Bee Cave - Austin TX - has a lot of new construction homes for sale in all different stages right now. In a series of posts, I'm going to show you pictures and describe a little of what is going on.Many people will never have the opportunity to build a brand new house, and many who do, never pay attention to the process it takes to get that house to stand there for many years to come.Falconhead West in Bee Cave TX used to be a Ranch, called Spillman Ranch. Much of the land was just acres upon (5 comments)
Day 81: 100 Days of Central Mass Features Colonial Style Homes - 07:32 PM
100 DAYS OF CENTRAL MASS FEATURES COLONIAL STYLE HOMES The colonial architecture is associated with many different cultural traditions, including English, Spanish, Dutch and French. Colonials found here in Central Mass are stately and symmetrical. They are usually a 2 story rectangular dwelling with bedrooms on the second floor. New England settlers first constructed what is known as Garrison Colonials, colonials that were similar to medieval England homes. They had steep gable roofs, diamond paned windows and unpainted clapboard or wood siding. Today's colonials are known as Neo-Colonials. Inspired by the original colonial homes, Neo-Colonials mix modern style with classic simplicity and (6 comments)
Countdown to Arroyo Arts Collective Recovery Discovery Tour November 22: Meet Artist Carol Es - 06:23 AM
On Sunday, November 22, artists' homes and studios throughout the Northeast Los Angeles Communities of Highland Park, Eagle Rock, Mount Washington will open their doors during "The Recovery Discovery Tour," the Arroyo Arts Collective's 17th annual self-guided auto tour. The Moppet Studio of Carol Es will be one of the featured destinations on the Arroyo Arts Collective Recovery Discovery Tour.
Carol Es is a visionary mixed-media fine artist and writer with curatorial experience, as well as a musician and recording artist, and a web designer skilled in PHP and MySQL databases, DHTML and Java scripting. Carol's Blog Es Art Website Carol (0 comments)
Foreclosure Tour Kissimmee Florida - 04:04 PM
Hi folks, Depending on who you listen to the foreclosure rate in Polk County Poinciana Florida is any where from 15% to 20%. I have no problem believing this since roughly 85% of the sales in this area are either foreclosures or distressed sales. According to RealtyTrac there are 1,401 properties that are in foreclosure (Lis Pendens filed) on the Polk County side of Poinciana. There are 10,685 homes in this area. So let's call the foreclosure rate a minumum of 14% VIEW ALL DISTRESSED PROPERTIES FOR SALE IN POINCIANA FLORIDA Here's a little video I made yesterday that will (14 comments)
Hometown Realty-Matt Huband-Just Listed 3405 Buccaneer Dr, Nags Head NC - 02:17 PM
North Ridge Estates, Nags Head - Just Listed: 3405 Buccaneer Dr, a 1,700 sq. ft., 2 bath, 4 bdrm 2 story. Now MLS® $199,000 - Great house, great location, great pool, bad tenants. This 4bd/2bth house was in great shape but was rented out. Now it needs a new owner to bring it back tolife. With a little work this house would be a true gem. Carpet, paint, applainces, yard work and some minor repairs will bring back this house to it's formerglory. Close to beach, shops and restaurants. According to the seller new roof in 2004, HVAC in 2005, pool (0 comments)
Morton Grove IL Real Estate Market Trends - 11:18 AM
Morton Grove IL Real Estate Market Report for past 3 months September 12 - November 12 I worked on real estate data from the MLS system and made an easy to understand chart that reflects the Real Estate Market Trends in Morton Grove IL. There were 67 properties sold in past 3 months in Morton Grove IL with an average market time of 140 days.
As you analyze the posted data keep in mind that setting the price working closely with your Realtor and recognizing market trends are key to selling your home.
Sold Properties Summary Sold Properties (3 comments)
Today is a day of remembrance for many. For many school kids it is just another day off. A day to play and have fun. No worries, no getting up early, nothing that relates to the meaning of the day. On the surface many of us are used to the word veteran. There is veteran news man, veteran football player, or even veteran Realtor. We like veterans, as that says to most of us, experienced. We paid our dues, we want experience. Most of us know from first hand knowledge the value of youth, but also (5 comments)
Short Sale. 2nd floor condo with unbelievable views. Screen-In balcony,ceramic tile flooring, large utility room with washer and dryer hook-up, Great view from master bedroom, private master bathroom. 2 bedrooms / 2 bath with over 1100 square feet of living space. For the latest status on this property and many more like it in Orlando, contact Steve Glose with Keller Williams Realty direct at 407-616-7286 or visit www.thefloridalivingteam.com. You can also email me at firstname.lastname@example.org (0 comments)
Short Sale...This is the largest 2br condo...Ground floor unit with a tranquil wooded scenery from your back porch..Located within minutes of all the Amusement Parks, Convention Center, Shopping and Airport..Great Investment. 2 bedroom 1.5 bath with over 800 square feet of living space. For the latest status on this property and many more like it in Orlando, contact Steve Glose with Keller Williams Realty direct at 407-616-7286 or visit www.thefloridalivingteam.com. You can also email me at email@example.com (0 comments)
Winter Energy Saving Tips - 09:07 AM
Managing Costs helps manage resources. Quick Tips: Simple ways to make your heating system run more efficiently Pay attention to the thermostat. Keeping the temperature a few degrees cooler can lower your heating bill and you can still be comfortable. It's a matter of personal preference, but setting your thermostat to 68°F can help you save energy. Check forced-air furnace filters regularly and clean or replace them as often as once a month during the heating season. Shake reusable filters outside or spray them with a garden hose. Be sure they're dry before replacing. Drapes can add an extra layer (6 comments)
Former Arkansas Gov. Mike Huckabee coming to Pensacola, Florida 11/15/2009 - 05:30 PM
Former Arkansas Gov. Mike Huckabee, will be on hand to sign copies of his newest book on Sunday at the Barnes & Noble bookstore, 1200 Airport Blvd. Pensacola, Fl. 32504. Titled "A Simple Christmas" it is a tale of his childhood growing up in Arkansas including a time while he was Governor. I remember Gov. Mike when he worked in advertising and the radio business prior to him becoming the pastor of the church in North Little Rock and way before him run for lieutenant governor. I was talking to one of the employees who said he was limited as for time (4 comments)
If My Dogs Were Realtors... - 07:31 PM
This got me to thinking that maybe agents are animals. :) but as I said mine is to spoiled and a big baby at that.
Via Michele Bellisari (Realty Associates Florida Properties): As many of my social networking friends know I have 3, yes count em 3 dogs. It will end my marriage trust me! As a big "rescue" advocate I have 2 from our local shelter and one that is my foster dog. I am watching them play at the end of the day and of course this bizarre thought popped into my head..."If My dogs were Realtors...what would they (6 comments)
Eastwood Real Estate Market Update 10/26/09 - 02:24 PM
This is the market information regarding Eastwood, a community located in East Orlando composed of 2021 single-family homes, located in Orange County Florida. To date there are currently 2 bank owned homes for sale within the Eastwood Community and there are also 7 short sale opportunities in Eastwood. Considering there are 7 out of the total 33 properties for sale in Eastwood, which equates to approximately 21% of the properties for sale within Eastwood are foreclosures. This does not mean there are only 7 foreclosures in Eastwood, it just means there are only 7 foreclosures currently for sale within the Eastwood (0 comments)
Avalon Park Real Estate Market Update 10/27/2009 - 02:27 PM
This is the market information for Avalon Park Real Estate, located in East Orlando Florida. To date there are currently 11 bank owned homes for sale in Avalon Park and there are also 103 short sale opportunities in Avalon Park. Considering there are 103 out of the total 162 properties for sale in Avalon Park, which equates to approximately 65% of the properties for sale in Avalon Park are foreclosures. This does not mean there are only 103 foreclosures in Avalon Park, it just means there are only 103 foreclosures currently for sale in Avalon Park and there are many that (0 comments)
Waterford Lakes Real Estate Market Update 10/27/2009 - 02:32 PM
This is the most recent market information for Waterford Lakes Real Estate. Waterford Lakes is located in East Orange County and part of unincorporated Orlando Florida bordered by the Waterford Lakes Shopping Center. To date there are currently 10 bank owned homes for sale in Waterford Lakes and there are also 43 short sale opportunities in Waterford Lakes. Considering there are 43 out of the total 91 properties for sale in Waterford Lakes, which equates to approximately 47% of the properties for sale in Waterford are foreclosures. This does not mean there are only 43 foreclosures in Waterford Lakes, it just (0 comments)
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.