Archives of real estate blog entries for April 21, 2009

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Dealing with a Zero Basis Market - 06:43 AM
I believe that in every real estate market in the country, there are "Zero Basis" segments sitting in doldrums of activity.
These are the areas where there have been virtually ZERO sales in the past 6 months (or year) . . . and which are in some way unique relative to the area surrounding them - Example being a new construction neighborhood of 3000 SF houses in a sea of 50 year old 1500 SF ranch houses.
These new houses sold like hot-cakes in better times. The location is superb and that construction wonderful.
The problem lies in the pricing.
The … (11 comments)

Day in The Life of a Fullerton Realtor With NO CAR...For Earth Day! - 03:39 PM
Last year, I got up early on Earth Day and embarked on adventure as a Realtor with NO CAR!  What a great experience it was...so great, I am going to do it again this year!
This year will be a bit different though. I am so much more busy than I was last year.  Getting everywhere I need to be in a day and not depend on my car is going to be tough and I think I have my work cut out for me!
The rules I set for myself? Simple. Go through the entire day as a Realtor...and not use my … (80 comments)

REALTORS® are NOT Under Paid or Over Worked - 04:02 PM
Why do we constantly go on and on about how overworked and under paid we are?  I am not.  I am paid what I am worth.  If I were not, I would not continue working as a REALTOR®. We are adults.  We have the option of saying no to people that refuse to pay us what we believe we are worth.  If we go ahead and work for them for a lesser amount it is because we have agreed that we are worth a lesser amount.
As REALTORS® we have a lot of choices.  We can determine where we wish to … (74 comments)

101 Ideas To Jump Start Your Real Estate Career - 08:39 PM
 
Marketing
Let's get down to business, you can't be successful if no one knows who you are. 
 
The Internet
1. Get a Website- Seems basic, but it's invaluable. The largest market in the world is the Internet. You must have a presence. If you don't have a website already, here is a place to start. 
 
Free Website: Free Websites If you have the money, I would recommend doing some research in your niche market. See what other successful Agent's are doing. Find out who is hosting their websites and get the details.    
2. Blog- Content is … (183 comments)

Buying a Bank Owned Home - 07:00 AM
                                                                                                                                                     
In a recent article I wrote about buying a foreclosed home or potential foreclosure property, I discussed the various ways in which you could obtain ownership of a foreclosure. Here is a quick summary of the three scenarios:
A pre-foreclosure where you buy directly from the home owner before the bank takes over. At an auction where you may be in competition with other buyers. From a Real Estate company or the bank itself. This is known as an REO aka Real Estate owned. Here is what you need to know about scenario #3 ~ buying a bank owned … (116 comments)

rustle, rustle... click, click... Oh Hi! I didn't know anyone was here!! - 10:14 PM
... that's how my seller was greeted today, as she sat in her living room.  Nobody knocked... the key just turned, and the front door opened.
And in walked a Realtor with her client.  As my seller's jaw dropped to the floor, the Realtor stood surprised to find anyone at home... the Realtor quickly recovered and said
"Oh,... I didn't know anyone was here...!!  I was showing the unit across the courtyard, and since I knew the combination code to the lock box, I just let myself in... do you mind if we look around?"
My seller was too stunned to … (88 comments)

Staging a home is an INTERNET strategy! - 10:33 PM
As many of you know I am a fervent believer in professional staging.  I truly believe that staging a home is an effective internet strategy.  Studies show that close to 85% of home buyers begin their search online.  Staging a home is critical to give the best impression of the home not only in person but also online. 
Here is a home that was professionally staged.  The home was vacant and the seller took my advice and RENTED furniture.  This seller had previously listed the home TWICE with the same broker for a total market time of 392 days on the market.  Before … (34 comments)

This relationship SUCKS!!! Why we're breaking up with these banks... - 10:39 PM
So there it is, the point in the relationship where you really evaluate what it is that you are doing with eachother, the wondering, the hopefulness, and finally, the realization that, "This just isn't going to work, and it's not you, it's me."
Rather than having this conversation over candle-lit dinner and bravelly facing any possible emotional outburts, it happened very naturally, when we realized, some of our "relationships" were just NOT working out with certain banks.
Who of you out there in Active Rain land are doing Short Sales? Ever sat on the phone for an hour 1/2? Ever got … (46 comments)

Purchasing Foreclosed Properties Can Be Very Frustrating!!! - 05:45 PM
Earlier today I read a blog by Bill Gassett titled Buying a Bank Owned Home that focused on the process of purchasing a foreclosed property.  In his blog he made a statement that I thought would go very well with this blog which I had planned on writing earlier.
In his blog he stated "Buying a foreclosed home however, is not for the timid at heart and there are many things that buyers need to be aware of going into a REO transaction." That statement is very true, and anyone who plans on purchasing a foreclosed property would do well to … (62 comments)

What is wrong with people today? - 02:06 PM

In the last year, I have had 12 clients who were veterans and I appreciate every one of them. They are the ones, along with the veterans before them, who gave their lives to protect the freedom that I have to do what I do, and say what I say, in this country.
But, while thanking a veteran the other day, after meeting him on his way home from the reserve base, I told him, “Thank you”. He had to ask, “For what?” I told him, “For your service. I know it is a thankless job sometimes, but I also … (87 comments)

Would YOU believe a 'national' weather report? - 02:42 PM
 
After reading Tim White's excellent feature entitled Good News in a Bad News Headline about our media and their apparent focus on keeping the public generally upset with bad news about the real estate market throughout this country, a very simple question comes to mind. 
Would anyone believe a 'national' weather report? 
 
Let me say that again and be more specific! 
 
Would YOU believe a 'national' weather report?
 
Think about it, folks!  The six o'clock network news comes on and the weather man uses that national map to point out what's going on in … (70 comments)

"How Can I Compete with a Minimum Service Real Estate Company?" - 10:38 AM
As many of you know, I'm hosting a free teleseminar this Wednesday on the topic of negotiating commissions. You can register for it here.
As agents are registering for the show, they're asking me lots of questions about their individual situations, which I don't mind at all! Keep ‘em coming!
I got a good one the other day from Melissa. Melissa finds herself competing against companies who provide minimal service for a minimal fee. Nothing wrong with that, mind you, it's a business model that has its place. But it can make it hard on those who offer full service for … (64 comments)

So much to learn about social media - 10:41 AM
Today - I am off to a seminar to learn more about social media from "expert" Chris Brogan.  I will drive a little over an hour to reach the hotel where he will be speaking.
It seems that so-called EXPERTS are showing up everywhere these days.  I'm not yet convinced of his expertise, but I will come back to this blog to share with you what I have learned. 
So - off I go to a paid seminar...hoping to learn something that will help me to connect to the buyers and sellers of real estate in The Woodlands and surrounding areas.  … (38 comments)

Here's an evangelical reason for creating a professional blog ...say it again brother! Amen. - 02:48 PM
I was commenting back to my ActiveRain "brother" Matt Stigliano yesterday about blogging, and its purpose and benefits, when a thought jumped into my head that was so overwhelming that I had to share it in a post today!
The comment I was writing concerned the amount of time that it took to build a blog that would actually generate a lead on its own. But there's one "statistic" that is often overlooked and rarely mentioned:
Even if your blog has not directly generated a lead it can CLOSE deals for you! In a world of singular uniformity, you can use your blog … (71 comments)

Lunch Meetup with TLW & Broker Bryant - 08:09 AM
Lunch Meetup with TLW & Broker Bryant
I must say I'm really fortunate to live in Polk County - living in the same county as TLW and Broker Bryant, the blogging gurus here on Active Rain.
A couple of weeks ago, TLW emailed me to ask if I would be interested in a Lunch Meetup in Lakeland. Yeah! Just tell me when, where and what time - well, that time was yesterday and it was sort of a brunchJ. The only request from TLW was - please no pictures. Not a problem, I do respect her wishes - TLW and BB, … (33 comments)


Blog posts


Can You Sleep With Yourself At Night? - 04:53 AM
When I started in real estate...there were many things I was willing to do..today is no different...as a matter of fact...I learned early on...despite what we call ourselves...we are sales people! 
To think that term is ugly or embarrassed by those words?  We sell houses...lifestyles..and regardless of what you think...you must know your lines and have skill...and practice...
As I sit and listen to associates a few things come to mind....
Those that speak first loses..don't believe me try it in negotiations and watch the other party...just spit up everything that you need to know. Rehearse your presentations..that's right...don't tell me … (43 comments)

New Hampshire - Have We Hit Bottom Yet? ... What Buyers and Sellers Want to Know - 12:52 PM
 

 
It seems that not a day goes by that someone asks me, "Hey Joan, has the housing market in New Hampshire hit bottom yet?
I always reply "It is impossible to know when the housing market has reached the bottom until things start to go back up... If I knew the answer to THAT question, I would be making the big bucks.. like the pundits on CNN"
 
 
There is good news for New Hampshire home buyers...
According to Peter Franchese, a well known demographer for the State, New Hampshire is close to or at the bottom.  Franchese agrees that it is … (34 comments)

How to remove broken light bulbs - 06:46 PM

Have you ever had this happened to you? Change a bulb - while you are unscrewing it, the bulb breaks and the base is stuck in the socket base because of rust. GREAT!! It happened to me and now I have to write about it or at least gives me something to write about.
There is no best way to remove it except to use a pair of nose needle pliers. To remove the broken base, first make sure the power is off. Wear eye protection if you don't want stuff flying into your eyes. Protect the immediate area from broken … (0 comments)

Brentwood Homes are Selling like Popcorn! - 03:45 PM
I often tell Home Buyers that homes are like movie theater popcorn. When you go large you get more for your money, at least in terms of unit cost.
My primary market is East Contra Costa County; including the cities of Bay Point, Pittsburg, Antioch, Oakley, Brentwood, Discovery Bay, and other small communities. To demonstrate my point I did a study on the City of Brentwood. My April Market Report on Brentwood, and My March Market Report on Brentwood the Brentwood Real Estate Market appeared the most stable. This is best for looking at large numbers of a longer period. I … (0 comments)

Average, Median, and just plain Mean! - 04:47 PM
I have been asked about the difference in these terms and now offer a brief explanation:
Average: You had everything together and divide by the number of units. For example if 10 houses sell you add up the total cost and divide by 10.
Median: The house in the middle of a price range. I’m not sure which way my data base jumps when there is an even number in a range. For example if 11 homes sold and you ordered them from least expensive to most expense the one in the middle would be the Median Price.
Mean: Is the … (2 comments)

CUSTOMER EXPECTATIONS - What role does the agent play? - 11:02 AM
A recent blog, Survey Says...Realtors Suck by Jeff Corbett, was right up my alley - Thank you, Jeff! - I have a background in psychology and counseling and this kind of info pushes all the right buttons for me.  I really enjoy trying to understand what makes people tic and respond as we do to various situations. 
Why do we sometimes strain at gnats, make mountains out of mole hills and, as my daughter says, 'get our panties in a wad' over relatively insignificant trivia and then when faced with a real problem or issue we say "Meh" and never give it another … (1 comments)

Mathematical Logic - 04:30 PM
Okay, this is not my usual blog but I thought this was very creative. I received it in an email and do not know who the author is.
 Here is a little something someone sent me that is indisputable mathematical logic. 
This is a strictly mathematical viewpoint...it goes like this:  What Makes 100%? What does it mean to give MORE than 100%?
Ever wonder about those people who say they are giving more than 100%?
We have all been to those meetings where someone wants you to give over 100%.
How about achieving 103%? What makes up 100% in life?   Here's a … (21 comments)

Chapter 7 or Chapter 11, Which Should I Use? - 12:06 AM
Have you done all you can to settle your debts, but do not have enough income to cover all the debts? Maybe you lost your job, like 90% of the most other individuals who file for bankruptcy. The creditors keep coming at you for collection. They call day and night. One has even begun court proceedings to attempt to collect the debt. What other option do you have but bankruptcy?

When deciding on bankruptcy, you need to determine if you will use a Chapter 7 or Chapter 11 Bankruptcy. Both bankruptcies have similarities as follows:

* Prior to filing. … (6 comments)

Tough Times for Shoppers and Shopping Centers - 12:09 AM
There are some conspicuous gaps along the store fronts of South Congress Avenue. Looking for Loft Furniture or Cowboy Cool on Second Street? Both these shops have closed in recent months. Thinking of stopping into long-time clothing shop Flipnotics on Barton Springs Road? Think again.

Americans in general are saving more and spending less these days and Austin seems to be no exception to this trend. With the economic outlook still murky and daily news mixed, people are thinking twice before heading out to the mall or their favorite local shops. Combine this with the freeze in the financial credit … (1 comments)

Mortgage Rates Fall: The 15 Year Mortgage Rate Hits All Time Low - 12:12 AM
Mortgage rates dropped this week from 4.87 to 4.82. They did not drop below the all time low of 4.78 that they hit two weeks ago. For the last month, for the most part, we have not seen a lot of movement and instead have just seen the 30 year mortgage rate just bouncing around near all time lows.

The 15 year mortgage did reach new all time lows this week dropping from 4.54 to 4.48. The previous low was 4.52 that was reached last week. The 5 Year ARM dropped from 4.93 to 4.88. This was also a … (1 comments)

When to Consider a Short Sale - 12:14 AM
A short sale is when a lender agrees to take less than the principle due on your home to release you from the debt obligation. In today's real estate market, many cities are experiencing financial hardship. Financial hardship leads to bankruptcy and foreclosure. Bankruptcy and foreclosure often lead to short sales.

Of course, there is no need for a short sale if you can afford to leave your home on the market. You want to get the most money possible in the sale of your house. Probably the only circumstance under which you should consider a short sale is when … (4 comments)

How Realtors Get Paid - 09:50 PM
How Realtors Get Paid 100 Real Estate Tips in 100 Days (Day 35)
In most cases, the seller of a property pays the commission (professional services fee) for all of the Realtors involved in a successful and closing. Before we get into just how that happens, let's define a few terms, at least how they are defined in Colorado:
Licensee-a person over the age of 18 that has completed a 160 hour course in real estate and has passed a state administered qualification test. After completion of the course work and passing the test, applicants must undergo am F.B.I. criminal … (7 comments)

10 Minutes to Chapel Hill -- Total Renovation With Heated & Cooled Studio - 12:06 PM
This home has been beautifully renovated.  The house sits on a private 1.3 acre cul-de-sac lot in The Trails neighborhood which is located 5-6 miles west of Carrboro and Chapel Hill.  Not only is there a really nice house on this property, there is also a 400 sq. ft. heated and cooled studio and an outdoor (covered) workshop.  The house has an entirely new kitchen with lovely rich wood cabinets, granite countertops, stainless steel appliances and a tile floor.  The family room has a lovely brick fireplace, a built in cabinet that can accomodate a 92" wide screen, a high-definition projection … (0 comments)

Can you say REAL tor.....NOT Re LA tor..... - 07:42 AM
  It is one of my very biggest pet peeves...You hear it on voice mail..
."This is Tim, Your ReLAtor in this city" ,
 you hear it in introductions..."I am the ReLAtor for the Smith family"....
Hmmmm....you can't say it...you aren't paying attention to detail...
 

 
                        The L comes AFTER the A.....


    Get Real.....
                       Hire a REAL-TOR.....
 
Gotta wonder if you can Pronounce it...how can you BE it ?

… (10 comments)

Junk In the Trunk? - 03:18 PM
Got any junk in the trunk?  How about the attic? Under the bed...stuffed in the shed...in the back of the closet or crammed overhead? Okay...before this turns into a Dr. Seuss rhyme, let me tell you what I'm talking about!
Every year Bath, Maine celebrates Mayfair weekend. This celebration offers a variety of activities for young and old, but the biggest draw seems to be the city wide yard sale!  Treasure hunters from surrounding counties descend upon our fair city to check out the goodies, and this year, we're planning to have some goodies of our own to offer!
Allen & Selig … (0 comments)

Interest Rates on the Rebound? - 04:27 PM
We all know over the past 4 years, fixed interest rates have been on a wild roller coaster. Starting out at 5.72% in November of 2004, they peeked during July of 2006 at 7.03%, and hit rock bottom at the end of March 2009 to 4.78%.
Currently interest rates are at 4.86% and are continuing to climb. What does this all mean? If you are thinking of buying and haven't purchased a home of your own already, NOW is the time to buy. Take advantage of this great opportunity before it's gone!
If you have any questions about real estate, please … (0 comments)

Celebrate Earth Day at the Loudoun County Family Festival Sunday, April 26th - 11:45 PM
Come stop by between 11am to 3pm at Clyde's Willow Creak Farm in Broadlands to celebrate Earth Day.  The purpose of this event is to educate and promote environmental awareness among family members in Loudoun. Animal demonstration shows will be held by Reptile's Alive, National Aquarium, the Raptor Conservancy of Virginia, and the Leesburg Animal Park. Live music and great food will accompany the event.
To find out more, go to www.earthdayatloudoun.org
… (0 comments)

NEW LOW PRICE! Gorgeous home in desired Rivercrest Community - 11:49 PM
Don't buy until you see this beauty! Immaculate home with numerous upgrades on a wooded lot in a peaceful neighborhood. Granite counter tops, Stainless Steel appliances, Large Master Suite with an endless walk-in closet space, finished Rec Room with half bath, and a Custom Sundeck ~ Did I miss anything?
 
… (0 comments)

Montgomery Real Estate For Sale: 2562 Carter Hill Road - 01:49 PM
Montgomery Real Estate For Sale:
2562 Carter Hill Rd, Montgomery, AL 36106 MLS# 263725   
Need room to spread out? Love privacy? Check out this lovely brick home conveniently located on Carter Hill Road. Formal living and dining rooms afford great entertaining areas, and the sunny breakfast room and updated kitchen are perfect for smaller family gatherings. The large den/family room boasts a fireplace, built-ins, brick floors, and great views of the secluded and private back yard. Spacious master downstairs with plenty of closet space, and two more ample bedrooms and a bath up for kids or guests. You'll be party central … (0 comments)

Why Its A Good Time For Montgomery Home Buyers To Buy In 2009 - 01:52 PM
One man's loss is another man's gain and right now buyer's have everything to gain. It was only a few short years ago that sellers controlled the market and were calling the shots. In order to buy a home, buyers were paying over the asking price, foregoing home inspections and paying all their own closing costs. Montgomery home buyers were jumping through any and all hoops.   Now the market has shifted. The strong sellers' market is a thing of the past and it is the sellers who are jumping through hoops. Buyers are calling the shots with offers that include … (0 comments)

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