Archives of real estate blog entries for November 17, 2009

Featured blog posts


Housing Market Predictions: We've Heard Them All, Except the One That Matters ... Yours! - 12:51 PM
Housing will not fully recover until 2012.  That is when the glut of backlogged foreclosures is expected to be phased out of the market.   
Housing will recover by the end of the year.  Now that inventory has contracted to average levels for what constitutes “normal” regional markets in major metropolitan areas where prices have declined as much as 50% in the past three years, and month to month sales have steadily increased over the past six months, demand has realigned with supply to arrest the freefall in values.  
The housing recovery began in early 2009.  Median price increases in … (125 comments)

Negotiating a Short Sale Is Like Eating a Dark Chocolate Bacon Cupcake - 08:58 PM
The other day the msn.com home page featured a dark chocolate bacon cupcake recipe. I saw the feature and did a double-take. What the heck is this? What is it gonna taste like? Breakfast and dessert all in one? I cannot for the life of me imagine what this thing is going to taste like when I put it into my mouth. I imagine that it'll be something like the stick of chewing gum that Violet Beauregarde began chewing in Charlie and the Chocolate Factory . . . you know, the one that tasted like a 3 course meal: tomato soup, … (44 comments)

Buying a Home - A Personal Budget Could Prevent Disaster! - 10:53 PM
When they say "A home is the biggest investment of your life..!" They weren't kidding.  It is!  As you can see now what is ocuring in our economy today...it should never be taken or treated lightly as people were doing.  A sudden illness, job loss can turn your world upside down.  I recently heard of a friend speaking of a couple that just recently lost their home.  Both the husband and wife lost their high paying jobs.  They had no reserves.  They lived in such a "Big home, drove a big car, and lived a big lifestyle!"  At first glance,  you would believe they were … (69 comments)

I Was Declined For A Credit Card ....And, I'm Feeling Like The Biggest Loser! - 10:20 PM
The clerk at the customer service desk at Lowes Home Improvement Center handed me a message that was printed from her cash register. 
We apologize but we are unable to approve your application at this time.  You will receive a letter in 10 days explaining our credit decision. 
I left the store feeling very embarrassed and scratching my head.  Why?  It sounded like instant credit would be easy to obtain.  I've been on time with all of my payments and I am not maxed out on my credit cards.  Well, okay there was that trip to Italy 6 weeks ago.  … (71 comments)

Clutter may be a buyer's best friend - 06:49 PM
When counseling buyers, we discuss what is important to them in finding a new home.  We also discuss what is important in getting a good home at a great price.  In my opinion, three important traits of a potentially good buy are:
1. Overpriced.  A home priced just out of its market range will get few showings and fewer offers.  If the seller can afford tosell at a market, our offer may be the only one they see.  There is a fair chance that, if the offer is presented properly, they will accept it.
2. Unusual paint colors.  Any color that … (59 comments)

Builders Downsize the Dream Home - 05:19 PM
As builders draw up blueprints for the house of the post-recession future, builders are struggling to distinguish among what home buyers need, what they want and what they can live without!
Most builders say the post-crash buyers of new homes want smaller and simpler.  I'm seeing they are attracted to quality not quantity.  Some of the things the home buyer appears not willing to give up is 4 bedrooms, a powder room down, at least a 2 car garage, a master bedroom with its own bath (with separate shower and tub) and granite countertops! 
For the first time in almost … (64 comments)

Why does Massachusetts (MLSPin) and New Hampshire (Innovia) MLS systems sabotage their own sales? - 04:48 PM
I guess I don't get it.
I don't understand why on earth MLS systems go to great lengths to sabotage the sale of home, especially in this economy.
INNOVIA/ New Hampshire:
It's been proven for years that the quantity of photos and the quality of photos helps to sell homes.  Yet, Innovia offers only 12 photos.  Not only that, they're exactly 290 x 218 pixels, just a little bigger than a lousy postage stamp!  In addition, up until recently, descriptions were limited to a very small number of characters, forcing agents to abbreviate their brains out trying to fit everything in. … (23 comments)

Understanding the Internet Buyer (NAR Convention Speech) - 07:30 PM
Here is my presentation from the NAR Convention in San Diego, "Understanding the Internet Buyer". If you ever want me or someone from Zillow to present to agents in your office (in person or via webinar), please let me know.
 
Here's the video. It seems to crash the Firefox browser when I embed the video, so you'll have to watch it over on ustream.
 
Understanding the Internet Buyer
… (47 comments)

Why pay on time? Stabbed in the back again - 02:16 PM
Why pay on time? to be stabbed in the back again, and again.
Recently one of my credit cards dropped my limit. - No big deal never used card for purchases it was the "holder" of my debt with a "fixed rate".  In hind sight that should have been a red flag. One statement later - my interest rate was increased on the same card.  Was I being targeted? Had I missed a payment?   The nice customer service rep explained it was not me, it is a "reflection of the economy" and that many accounts have been affected.  
I have read Suzie Ormond and … (46 comments)

"Suicide is painless... it brings on many changes" - 09:15 AM
If you are old enough you may remember the song from the movie MASH. The dentist had some issues so they were going to give him a little pill to solve everything.
I think as REALTORS we often look for the magic bullet or pill (as a society we do too) There has to be another solution, a better quicker, "painless" way. A few years ago it was rapidly appreciating property and selling as an investment, then low rates (I remember when we said "if rates would just get down to 12% we could really do some business") now government tax … (34 comments)

Perfecting Your Inventory Knowledge in Your Neighborhoods - 06:12 AM
This is not a rant, but rather a lesson learnt, obviously very much needed to share with all agents - especially when you plan to represent your clients in a specific neighborhood, be it if you are a listing or a buyer's agent.
Over the weekend, I showed a property in a Frisco TX neighborhood. The agent called for a feedback Monday afternoon. There's 2 things I learnt from the conversation:
(1) The buyer is ALWAYS right.
The listing agent went on and on the phone the whole time explaining to me what are the upgrades in the house. No question … (59 comments)

Google Wave: How to reply - 06:01 AM
There are two simple ways to Reply to comments when having a conversation in Google Wave.
You can insert a Reply to anywhere in the conversation.
1.  Find the comment to which you want to Reply.  Or just place your Reply after the most recent comment in the conversation.
2.  Hover your mouse over the bottom border of the comment, and a double blue line will appear.  Click on the double blue line.

 
Clicking on the double blue line will open up a message box.  Type or paste in your Reply and click Done.

 
 
ALTERNATE METHOD:  … (39 comments)

Power of the Rain - 07:48 PM
I first discovered ActiveRain over a year ago. I piddled with it, got busy with something else, and eventually forgot about it. I recently heard ActiveRain mentioned in a talk on social media and thought that I might take another look at it. I realized the power of it this evening. 
About two weeks ago I did a listing presentation for a nice couple in a very nice neighborhood. I have been trying to get into this area for quite awhile. I pulled out all the stops, I really worked to get this listing. It went well but they said that … (41 comments)

DRESS FOR SUCCESS...IN WHO'S OPINION? - 05:29 PM
I have been preached to and raised to believe that how you dress projects how seriously you take your profession.  As a result, while I don't own a dress, my professional wardrobe is made up of slacks, matching jackets and the appropriate modest tops.  Coming from a more casual previous career, it took a while to create this selection.
If you have not heard, Sacramento has it's share of warmer days.  On a particularly warm Sunday, I decided to forgo the usual jacket in favor of a top that wouldn't produce perspiration (women don't "sweat") during an open house. It was not my comfy jeans … (108 comments)

How do you find time for it all? - 04:17 PM
With me being the new kid on the block, I can't help but feel overwhelmed by the plethora of knowledge one must possess to truly be as successful as one can.
 
I would like to hear from experienced and knowledgeable professionals on how to find time for it all.  What suggestions you may have on scheduling a productive day.  How to keep up and stay in the "KNOW".
 
Any and all insight to this very complex yet intriguing world would be greatly appreciated.  It would probably benefit those who comment as well by jump starting their memory and motivation.
… (44 comments)

There's an Elephant In The Room----SHHHH! - 10:31 AM
 I have read and enjoyed many post on the subject of seller's pricing their home correctly to sell. Many of these posts are from high profile AR hitters to those that are just starting out.  When I review these posts I often agree that pricing a home right is key, but. Now you knew there was going to be a but coming.  There is a elephant in the room that no one is willing to admit influences the decisions that many agents make in taking listings that are un-sellable,or overpriced .
 
Yes, its time to stop sugar coating the … (84 comments)

When is your due date? - 09:48 AM
I hosted an open house for one of my new listings in Blossom Valley San Jose Ca on Sunday. The property was just listed ... Sunday was Day One on the Market. 
There was modest traffic ... mostly neighbors for the first 2.5 hours. Just as I was preparing to pack up, turn off the lights, and close down for the day, a young couple arrived. For the purpose of this post , it important to note that English was not their  first language.
After spending 25 minutes in the house, the young man had dutifully completed sketching a diagram … (77 comments)


Blog posts


Brokers Edge in Tough Times - 07:54 PM
As we consider how can we better serve a client with a house, which even after drastic price reduction is still in a price range where few buyers are found we ponder what can we do to give us an "edge" in todays market?  
WynnDcorp Realty International likes to focus on Income - Resort - Retreat properties but we still owe an obligation to serve our local residential buyers and sellers. We are one commercial broker who understands two qualified brokers is more likely to get the job done then one whose focus is inward and keeping all of the … (2 comments)

New Hampshire Fifth Healthiest State in America - 11:19 PM
 Attention Buyers and those thinking about buying a home in New Hampshire. 
Did you know that New Hampshire is the Fifth healthiest State in the United States?
 NEW HAMPSHIRE IS THE Fifth HEALTHIEST STATE IN AMERICA
When the United Health Foundation, the American Public Health Association and the Partnership for Prevention compiled its 20th annual list, New Hampshire came in Number 5 in the Nation! 
   Vermont #1    Utah #2    Massachusetts #3    Hawaii # 4 The World Health Organization defines health as "a state of complete physical, mental and social well-being and not merely the absence of disease or infirmity." 
Factors such as personal … (32 comments)

Improvement Ideas to Instantly Increase the Value of Your Home in Cheyenne Wyoming - 12:42 PM
Improvement Ideas to Instantly Increase the Value of Your Home in Cheyenne Wyoming!!!  HomeGain.com's 2009 top 12 Home Improvements Survey Results showed that cleaning and de-cluttering was the easiest and most cost-effective way to make your home more appealing to buyers.  For as little as $100-$200, sellers could see as much as a 10x increase in their sale price.  Most of the recommended projects come in under $500, with a ROI of at least 100 per cent. 
Most of the recomended improvement projects come in under $500, with a ROI of at least 100 percent.  Now, most sellers can afford to do the … (0 comments)

Monday Fit Bit – Workouts You Can Do at Home! - 12:34 PM
Happy Monday Readers!  It's time again for another Monday Fit Bit from Mickey Glick at Body and Soul Fitness Studio.  When people tell her they don't always have time to go to the gym, Mickey tells them that going to the gym isn't the only way to stay healthy and there are many excercises that can be done at home that are just as effective as a gym membership.  Read on to find out what they are! 
Don't forget, if you have more questions or would like Mickey to create a personalized fitness plan for you, call her at Body and Soul … (0 comments)

Why Does the Law Care What Escrow Company I Use...and Does it Really Matter? - 12:16 AM
I just received an email from ReaLegal®, brought to me by the California Association of REALTORS® that an announcement of a form revision.This post really did start off as a simple review of the form and changes that are now in effect.  Read the whole blog and find out that it is much more than that...The REO Advisory (CAR form REO) has been updated to include the notice that Buyers of REO properties in the State of California (which include the Hemet - San Jacinto Valley, CA by default) that they are not required to purchase escrow services or title insurance … (8 comments)

Virtual RE BarCamp, Tuesday November 17> See You There! - 01:52 AM
I just signed up for the VIRTUAL reBar Camp coming up in a couple of days.  I followed the links in the article below and saw a pretty amazing line-up of speakers.
The downside for me is that I have a pretty heavy day of commitments already and won't be able to tune in until the last couple of sessions - but that is going to be cool.
I've asked the question, without yet receiving the answer if it will be available for replay after the fact.
Hope you can makes it...
Via Diane Richardson (Macdonald Realty Victoria Inc.):
Educating Real Estate Agents … (2 comments)

If There Are More Appraiser Members Of NAR Than Of Appraisal Institute or All Appraisal Organizations, Then What Does This Mean? - 02:01 AM
Here is a blog I found that first alerted me to something that I had no idea of...that NAR has more appraisers as members that all of the appraisal organizations combined.
That is mind boggeling.So then, what does this really mean?  Is this even ethical for NAR to accept these members?  What influence does this sub-set of membership in MY national association have on the policies of MY association.Will Appraisal Associations allow agent members?  Why would we want to join?  Why do so many appraisals want to belong to NAR - after all, for the most part the relationship that should … (5 comments)

NAR EXPO - THERE HAS TO BE A MORNING AFTER - 09:48 AM
Last night I went through my bag of literature and goodies and came to several conclusions.First there are new technologies that are becoming mainstream.  Let me share an example of one such technology - lead capture texting.I'll point out that I have been an advocate of Call Capture technology as long as I've had my real estate license.  In my first year in the business, I closed 24 sides that for the most part were the direct result of a toll free call capture system.  I have not had a day go by that I do not use this technology...nor will … (8 comments)

Econ 1A -- your Real Estate Refresher Course in 7 Simple Steps - 11:25 AM

Via Barb Fischer (RD Brown Real Estate):
Don't get stuck in Fantasyland!  Real Estate always follows a few basic economic truths.  Honor these realities, and you'll win what you want.  Here's a 7-step quick tour through real estate economics. Pass, and you can have a fighting chance to get the house you want.
1. Supply and Demand: When there are more buyers out there than desirable homes available-- you get A) multiple offers, B) offers over asking price. This is what's happening now.
2. Location, location, location: Real estate is always local in nature, and #1 above is what's occurring in most  … (1 comments)

Novato Home Back on the Market! - 04:26 PM

Novato Home Back on the Market!
One of the finest homes for the price is back on the market!  The owner took the home off the market for a short time to upgrade some of the fixtures and do some painting.  This home is excellent.  It offers:
Pool Two Decks Game Room Media Room Five bedrooms with a Jack & Jill Suite Hot Tub Gourmet Kitchen Large Park like grounds Flowing Creek Horses OK Large Lawns Could hold RV Parking Classic Hard Wood Floors Grand Fire Place Excellent Schools Attic Fan and so much more! For recorded information and/or an … (3 comments)

envelope please . . . and the answer is . . . - 08:32 PM

 
Sometimes difficult questions have the simplest answers.
 

Click on the houses above to search for one of your own.
… (11 comments)

Loan Modification Scams - 06:10 PM
If you or someone you know is thinking about trying to get a mortgage modified be sure to read the linked article.  If someone asks you for a big up front payment to help you modify run the other way.  Seems like there is always someone ready to take advantage of people's troubles.
Read the Article here:
… (0 comments)

I'm thankful for... - 08:28 AM
My friend Melissa Kulikoff came up with a great idea - let's all list what we are thankful for. She wanted ten and then immediately broke the rules! :) I've had a hard time narrowing it down myself, but here goes my effort.
1 and 2. In no order at all, I'm thankful for my daughters. No dad could be more proud and more thankful for his kids than I am. They have turned into fine young women who both manage to make their daddy smile, laugh and cry - sometimes in a single telephone conversation!
3. My constant companion - … (9 comments)

2112 Aberdeen Drive Carpentersville illinois 60110 - 11:35 AM
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1657 Ash Ave Woodstock Illinois 60098 - 12:11 PM
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640 Buckeye Drive Hoffman Estates illinois 60169 - 12:47 PM
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4660 Whitehall Court Algonquin Illinois 60102 - 01:26 PM
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Town Farm Estates - Warren MA - Homes For Sale - 09:41 AM

 
Town Farm Estates - Warren MA is one of the newest and most sought after neighborhoods in Warren.  These are quality homes built by reputable builder Jim Fountain.  Quality and pride are shown throughout each of these fine homes and they are known as "homes with a view" in Warren.  They are conveniently located just minutes from the center of town and off of Route 67. 
If you are looking for homes for sale and want more bang for your buck, check out what the town of Warren and Town Farm Estates has to offer you.  There are currently 4 … (0 comments)

Day 84: 100 Days of Central Mass Features Victorian Home Styles - 09:36 PM
 100 DAYS OF CENTRAL MASS FEATURES VICTORIAN HOME STYLES
Victorian style homes are referring to an era in time known as the Victorian period.  This was between 1837-1901 and corresponds to when Queen Victoria ruled Britain.  There are several different styles of Victorian homes: Second Empire, Queen Anne, Stick, Shingle, and Richardsonian Romanesque.
Did you know that the South End in Boston is recognized by the National Register of Historic Places as the largest and oldest Victorian neighborhood in the country?  That is very cool!





Features that identify Victorian home Styles:
Steeply pitched roof of irregular … (2 comments)

Google Wave: How to reply - 06:01 AM
There are two simple ways to Reply to comments when having a conversation in Google Wave.
You can insert a Reply to anywhere in the conversation.
1.  Find the comment to which you want to Reply.  Or just place your Reply after the most recent comment in the conversation.
2.  Hover your mouse over the bottom border of the comment, and a double blue line will appear.  Click on the double blue line.

 
Clicking on the double blue line will open up a message box.  Type or paste in your Reply and click Done.

 
 
ALTERNATE METHOD:  … (39 comments)

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