Archives of real estate blog entries for July 23, 2009

Featured blog posts


New Theme Thursday- ActiveRain has Upgraded to Granite - 10:52 AM
Just like I have shared over the past few weeks, ActiveRain has designed a new theme for your ActiveBlogs.  This weeks theme is called "Granite."  It incorporates nice jewel tones with the sidebar image.  It also allows for a Header image for your blog.  Below is a screenshot of what it looks like, or you can always visit my outside blog to view it in real time.

Remember, changing your theme is a simple deal. All you have to do is head over to your outside blog by clicking on the link from the left hand side of your 'my … (30 comments)

What do you mean "why is it taking so long?" You're lucky it's closing! - 02:54 PM
(Warning: Not for babies or whiners :) [Unless you read it as it was written: the vent, the whole vent and nothing but the vent] If you plant your tongue firmly in your cheek while you are reading and go ahead and hit a great big old Cheshire Cat smile right now you will probably make it through this ... erm ... post.
Last week I closed an FHA purchase in 8 days from application to the closing table. It was a miracle. It happens. Last month I closed an FHA streamline refinance in 5 days. No joke. 5 days. It … (75 comments)

Safety Steps for Women Realtors - Don't Make Yourself a Target! - 12:12 PM
                                                Safety Steps for Women Realtors - Don't Make Yourself a Target! I have not been in the Rain for a while.  After being gone for a while I have to tell you,  what I really want to do is write about how my daughter just took the honors of top student web designer in the nation.  But I felt this was more important.  Oddly enough, there have been many times I started writing this but it just seemed there was always something else more important.  Then it became to close for comfort . . .  . Whether we want to … (136 comments)

Can you Claim the $8000.00 Tax Credit when Buying a Home on Land Contract ? - 07:03 AM
In May, I wrote a post on the use of Land Contracts in Michigan being acceptable for claiming the $8000.00 tax credit. In the course of writing that post I was contacted by Ed Sackley, a Representative for U. S. Congressman Fred Upton.(US Michigan 6th District) 
The opinion was written by Greg McClelland, Michigan Association of Realtors (MAR)legal counsel. I sent the opinion off to him.
They took it a step further and contacted the U. S. Dept. of the Treasury to confirm that this was indeed true. Ed was kind enough to forward me the letter and said I could … (39 comments)

The Seduction Of The First Time Buyer - 03:00 PM
                                         
"All that glitters is not gold, Often have you heard that told: Many a man his life hath sold, But my outside to behold:Gildedtombs do worms enfold. (II.7)"    Shakespeare-Merchant of Venice
 
 
 
 
 
 
Well...we've gone and done it! We've created the monster.....we've succeeded in convincing the First Time Home Buyer that it is a Buyers' Market......HA!!
Seduced by the prices and the promise of a bargain they are seeking out "the pie in the sky"
They eagerly go on line,every day, pulling up picture after picture of the "perfect house"....It has granite counter-tops, walk-in closets, … (54 comments)

Death of an Industry - 06:22 PM
I opened my first mortgage brokerage company in 1991.  The industry trend was away from banks and toward brokers.  Brokers had several intrinsic advantages:
•1.       They could shop the market place for price.  While most lenders pricing is very close, mortgage brokers could find that one lender that was buying the market on a given day and take advantage.
•2.       They could move the loan to another wholesaler when rates went down.  Although not an ethical approach from the standpoint of the wholesalers, it was common practice for mortgage brokers to lock a rate with one investor and deliver the loan … (61 comments)

It's not the Lenders job to get you paid! - 05:15 PM
Hi folks. I want to address Jim Paulson's recent post..........
Realtors need to stand up to lenders on short sales! In his post Jim is talking about the frustration with Lenders changing our commission on Short Sales AND Brokers changing the co-broke offered in the MLS based on what the Lender will allow. Please stop over and read Jim's post. It is "Member's Only".
Here's the deal. MLSs should not allow the co-broke to be altered. This is wrong and needs to be changed. But......
As for the lender adjusting the commission, this is NOT what they are doing. The lender … (85 comments)

Why the NAR call to action for HR 3044 is a joke - 12:16 PM
I recently received an email asking me to call my representatives and urge them to co-sponsor H.R. 3044, which would place an 18-month moratorium on the HVCC.  Along with the email were links to several articles talking about how low appraisals are hurting real estate, essentially saying that appraisers are responsible for the slow economic recovery.
New Home Appraisal Rules Stir Industry Backlash - Associated Press (July 14, 2009)
Low Ball Appraisals Spark Uproar - Post (July 3, 2009)
Appraisal Management Chart
While I understand the real estate industry's frustration, yet another delay in implementing the HVCC is not the … (65 comments)

Are you ready to start your own real estate firm? Here's how! - 12:06 PM

 
I know what you are thinking.  Who in their right mind would start a new real estate firm in THIS terrible market?  Well, ah, that would be me.  Am I crazy?  Maybe.  But I am also excited, invigorated and happier than I have been in a long time.  It's as if I have been released from a burden I didn't know existed.  I am free.  My new firm was official less than one week ago. 
When I wrote a brief post about my new firm I got some amazing calls and comments of support from my ActiveRain friends.  Some expressed … (99 comments)

My best friend. My worst enemy. My brother. - 11:47 AM

His name was Joe.  He was my chief antagonist, and later my best friend. He was my brother.
Joe was my hero early on.  He could find rubies in the sand like no other.  I still see his little brown back scorching in the hot Tuscon sun, hunched over his knees as he poked through the sand, tweezing out little "gems".  They may have been broken beer bottles, I really don't know, but we were going to get rich off our rubies.
He taught me to play marbles.  We drew circles in the sand in front of our "mud hut"... … (87 comments)

Why So Serious? - 12:09 PM
"You look like you need an ice cream cone, little girl," I told my sister as the corners of her lips drooped toward the floor after eating out last night. "I shouldn't feel guilty about spending money," she told me, obviously unhappy. "I'm okay." Like many people, myself included, the Recession we live in today has impacted my sister's way of thinking about money. She's just switched jobs, just finished her college education, and lives in a gorgeous apartment in the heart of Ballard right across from the park. And yet, still, she worries about every penny she spends because she … (36 comments)

The Sins Of A Seller - 11:38 AM
 
Many of you know that I recently bought a home. 
And, for those of you that don’t know that I recently bought a home…I recently bought a home.  Here’s proof.  
Although we are very happy with our home we did purchase, during this process, I happened to notice that as we viewed house after house, I kept seeing the same things happen over and over.  And….not good things.  Bad things.  Bad things that were blatantly obvious to me.  Bad things that literally turned me off.  Bad things that were keeping this otherwise fine house I was standing … (219 comments)

Beaverton Oregon Real Estate and More: Who is doing the predatory lending? Big banks of course and here we go again! - 11:26 AM

Beaverton Oregon Real Estate and More: Who is doing the predatory lending? Big banks of course and here we go again! - By Todd Clark

A couple weeks ago I wrote an article titled, “Predatory lending is now even easier and banks are taking full advantage” and as if that wasn’t enough, “Big Banks” are at it again. Once again the government just sits back, hears the sob stories, and passes new laws to help protect consumers because the “Big Banks” said it would help!

The latest in a series of “We are the Government, and we are … (12 comments)

My Closing Had Problems Due To An Out-Of-State Appraiser !! - 07:12 AM
Well, yesterday was a happy day for my clients. We closed on their home and it is the home that they want to retire in. They consider it their last home purchase and are very pleased with the beautiful home they found on a dead-end street in a quiet neighborhood.
Things went smooth enough on our end, but the seller had some problems......the home they were purchasing did not appraise out well. An out-of-state appraiser did the work. I don't understand how out-of-state or even out-of-county appraisers can appraise property when they have no local information. Relying only on the internet … (46 comments)

Be Cautious in Agreeing to Delayed Possession - 05:35 AM
Be Cautious in Agreeing to Delayed PossessionAll Signed and sealed, got the keys in your hand, arriving at your brand-new address for the first time with children gathering around to have a look at your furniture. Perfect picture of a moving day, right on the agreed date! That's what you had in mind. But wait! What's that? A delay?
In some cases, a seller will ask to remain in the real estate for a time after closing. You may say yes or no to the request, but before you make your decision, there are some important things to keep in mind.
… (38 comments)

MY OUTRAGE IS PALPABLE!! DOES THE NAR EVEN KNOW WHO THEIR CONSTITUENCY IS?? - 12:21 PM
                                              * * * *  HARD CORE REAL ESTATE TALK  * * * *
I for one was glad when representatives of the National Association of REALTORS®  began posting to a blog on ActiveRain.  How better to communicate with their "constituency" than on ActiveRain with about 100,000 real estate practitioners reading these posts on a regular basis. 
                                                                     ~~~~~~~~~~~~~~~~~~~~~
ALERT. ALERT, ALERT:  The article that sparked this post has been deleted on the NAR ActiveRain blog.  HOWEVER, it is still included on the NAR web page, see:  http://www.realtor.org/toolkits/consumerd03 .
IMO, they should have published a retraction.  By deleting the article, they also deleted … (173 comments)

Realtors need to stand up to lenders on short sales! - 04:50 AM
I am really confused about how the majority of listing agents are handling commissions on short sales these days and my discussion with two local real estate attorneys have not helped a bit!
In a real estate transaction (at least here in Idaho) we are subject to the "Statute of Frauds" in which everything has to be in writing.  Contracts are not considered such until there is a "meeting of the minds".   Why does it appear acceptable to have a contract "subject to lender approval of the short sale" with a clause inserted saying if there is a commission reduction required … (38 comments)


Blog posts


Walk Your Own Path! - 06:34 AM
 

Make it a great selling day!  About The Author: Midori Miller is a Real Estate Trainer and writes and trains Real Estate Training and assists sellers in short sale situations. Midori is a Licensed Florida Real Estate Broker , License # BK645709 and a member of the Daytona Area Association of REALTORS. Midori is also an Activerain Ambassador...need assistance contact midorimiller@yahoo.com or (386)453-3236 today!
… (9 comments)

Orland Park Homes For Sale Under $200,000 - 10:40 AM
In today's slow Buyer's Market, it is interesting to see how many Orland Park homes for sale under $200,000 exist on any given day.  If you click the link you'll see that as of today, there are currently 7 Orland Park homes available now priced under $200,000!
These homes range in price from a low of $170,000 for a 3 bedroom, 1 1/2 bathroom ranch style home (all on one level) up to a cute little dollhouse offering 2 bedrooms and 1 bath priced at $199,900.  Two are short sale listings and the rest seem to be regular owner sales.
Within … (0 comments)

Golf Course Homes for sale in Brentwood California - 01:56 PM
Golf Course Homes for Sale in Brentwood California – Brentwood California is an upscale, but affordable home in East Contra Costa County featuring some very fine Golf Course Homes.
Most of these Golf Course Homes for sale in Brentwood California are newer and features many upgrades. Brentwood Golf Course Homes offer 63 unique holes on three excellent club courses.
Shadow Lakes Golf Course has two incredible 18-hole courses surrounded by beautiful Golf Course Homes for Sale in Brentwood California. This Golf Course Homes and these Golf Courses set in the scenic rolling hills on the west side of Brentwood California with … (0 comments)

Restaurant Discounts in and around Austin, TX - 12:12 PM
Are you always looking for a good deal when going out to eat?  Do you like to try new restaurants as long as they're offering something for you to stop by?
Here's a great site that I found with a list of all the daily restaurant discounts in the Austin, TX area!!

Some are location specific. Some are hour specific. Look at the address on the right to make sure you're not going to the wrong location or at the wrong time of day.
**Are You Packed Yet?**

Donna Harris, REALTOR®RE/MAX Austin Skylinewww.DonnaHomes.comDonna@DonnaHomes.com
Austin, TX real estate and the surrounding … (10 comments)

Has the President lost his mind? - 04:01 PM
I know he has a lot going on, but at some point last night in yet another incredibly boring and nonsensical so-called press conference, the President decided to weigh in on a subject he knew nothing about. In fact he even prefaced his remarks by actually SAYING he knew nothing about it. And then he went on to trash first the Cambridge, Mass Police Department by saying it "acted stupidly" and then went further and insulted the rest of the country's law enforcement officers by suggesting they are all racist!
In case you don't know, the police department in question responded … (20 comments)

Day 12: 100 Days of Central Mass Features White Mountains, NH - 09:07 PM
Take a drive a couple of hours north of Central Mass you will find an incredible place to visit - The White Mountains in New Hampshire.  A year round vacation spot for outdoor enthusiasts you will enjoy skiing in the winter, swimming, hiking and shopping in the summer and a very kid friendly place to vacation.  We try to visit in the middle to end of August when the weather is warm.  Last year we stayed at the North Conway Grand Hotel where we enjoyed indoor and outdoor pools, free full buffet breakfasts for children and outlet shopping just steps away.  We … (2 comments)

Progress on the Loop 393 - 02:54 PM
 
The Arizona Department of Transportation has been making great headway on the new 303 extension.    This will improve transportation between Surprise and subdivisions such as Trilogy at Vistancia, WestWing Mountain, Sonoran Ranch and northern subdivisions such as Anthem, Tramonto and Sonoran Foothills. 
 See below for updates from the Arizona Department of Transportation.      
 
Loop 303 Construction Update
Restrictions planned on Bell Road at Loop 303 for intersection improvements
Current RestrictionsA lane restriction is currently in place on Bell Road at Loop 303 and another restriction is planned next week at this location for intersection improvements to enhance safety and traffic … (0 comments)

Concert tonight 7/23 at Heritage Square: PCC Swing Band and Rock, Inc. - 06:55 AM
The LA Weekly and METRO have joined others in supporting the Concerts at the Square free music series, which continues Thursday with the Pasadena City College Swing Band. This Thursday evening enjoy great music and free food from the Barn Burner Texas Barbeque. Don't want to drive? Take the METRO Gold Line and hop on a shuttle courtesy of our partner, the Los Angeles Boys and Girls Club. Costumed docents will be on-hand to enliven the evening. For more information about planning your trip to the Heritage Square Museum please visit the Metro trip planner at http://www.metro.net/.

Opening the festivities … (1 comments)

The Art District in Highland Park, California - 01:50 PM
Is there really an Art District in Highland Park?  As in Highland Park, California? 
Yes.  Highland Park has a tradition in the arts that dates back to the early 1900's when the USC College of Fine Arts was located right here in Highland Park and visionaries such as Charles Lummis and Antonio Corsi were living in the area.
Historically rich in tradition, the area bordering the Arroyo Seco was Los Angeles' first cultural center at the beginning of the 20th century.
The tradition continues with a concentration of artists continuing to reside in Highland Park, and with new gallery spaces opening regularly. Highland Park is … (3 comments)

Living in Highland Beach Warwick RI - 04:49 PM
 
Highland beach, in Warwick, RI is my home town. It is on the very neck of Warwick Neck, another village in Warwick. Perhaps I should say my home "village" as I am continuing on the series I started a couple of years ago.
Back then I promised to do an entire series on the villages in Warwick. I first blogged about Oakland Beach in Warwick RI and I continue to receive calls and emails from that blog. In fact, Oakland Beach has been improving by the minute and I am selling homes there as fast as they go on the … (10 comments)

It's not the Lenders job to get you paid! - 05:15 PM
Hi folks. I want to address Jim Paulson's recent post..........
Realtors need to stand up to lenders on short sales! In his post Jim is talking about the frustration with Lenders changing our commission on Short Sales AND Brokers changing the co-broke offered in the MLS based on what the Lender will allow. Please stop over and read Jim's post. It is "Member's Only".
Here's the deal. MLSs should not allow the co-broke to be altered. This is wrong and needs to be changed. But......
As for the lender adjusting the commission, this is NOT what they are doing. The lender … (85 comments)

40+ homes in todays Birmingham Alabama foreclosure update - 07:10 AM
40+ updates in today's foreclosure update on homes in Birmingham Alabama. There are some brand new homes in Gardendale, a lot of investment homes and a great deal in Crestwood for mainly a first  time home buyer. There is also a house for sale on here that I attempted to sell without success.
25 New Listings:
http://bhammls.net/BAARReports/ListitLib/show_report.aspx?ID=US10469268
17 New Price Changes:
http://bhammls.net/BAARReports/ListitLib/show_report.aspx?ID=US10469269
… (2 comments)

Carrboro Home for Sale: Exceptional Transitional in Spring Valley - 09:37 PM
Exceptional transitional home in Carrboro's Spring Valley Neighborhood. This is a beautiful home with a dramatic family room with soaring ceilings, a wonderful master suite, a fantastic sunroom in Spring Valley which backs to miles of hiking and biking trails in Bolin Forest and is walking distance to downtown Carrboro, Weaver Street Market and the Farmer's Market.
Powered by: ClassifiedFlyerAds.com
 Click here to learn more about Team JodiClick here to view Team Jodi's Chapel Hill Real Estate and Durham Homes for Sale
Click here to Search homes for sale in Chapel Hill and Durham and the surrounding Triangle NC area … (0 comments)

Lenders Can Be VERY EXPENSIVE ...Beware ! - 10:51 AM
 
 
Be careful..make that be afraid....be overly cautious....there are many lenders STILL out there who appear on paper, over the phone, in their blog....to be the perfect professional that has areas of specialization, years of successful experience and a wealth of referrgivwals to pass your way.  You want to believe it....and you do....and in your enthusiasm to welcome them to your sphere of vendors....you refer them to a buyer.  The dance begins....and in some cases...the record gets stuck....that is like the days of old when the needle would remain in one place and the same phrase would be repeated...that … (2 comments)

"I've Never Listed Any Short Sales But I KNOW...." said the agent - 11:09 AM
   We got an offer on one of our short sales this morning....from an agent claiming to have written on "many" and they all closed...none with offers even close to asking...and all with many costs to the bank in the offer...the tests, the gap insurance....and I should just skip right over the sellers and submit it to the bank...she KNOWS that is how it's done....she heard....she wrote...she never listed.
   Therein lies the very great danger of listing a property with an agent not experienced in short sales.
Skip over the sellers...who still own the house...hmmmm.....
Submit an offer that … (9 comments)

4409 Wood Ave -- $110,000 -- SOLD OCTOBER 09! - 02:23 PM
… (0 comments)

Oviedo Florida Real Estate Market Update 07/23/2009 - 11:47 AM
This is the market information regarding Oviedo, located in Seminole County Florida.
To date there are currently 11 bank owned homes for sale in Oviedo Florida and there are also 113 short sale opportunities in Oviedo. Considering there are 113 out of the total 397 properties for sale in Oviedo Florida, which equates to approximately 28% of the properties for sale in Oviedo are foreclosures. This does not mean there are only 113 foreclosures in Oviedo, it just means there are only 113 foreclosures currently for sale in Oviedo and there are many that are in foreclosure, just not represented on … (0 comments)

Be Cautious in Agreeing to Delayed Possession - 06:19 AM
Contributed by Gary Griffin.
So many times, Buyers agree to allow sellers "time to move out" after closing. This is a mistake. Once the buyer owns the property, anything that happens to the house is their liability.. read on
Via Gary Giffin (Keller Williams Realty):
Be Cautious in Agreeing to Delayed PossessionAll Signed and sealed, got the keys in your hand, arriving at your brand-new address for the first time with children gathering around to have a look at your furniture. Perfect picture of a moving day, right on the agreed date! That's what you had in mind. But wait! What's that? A … (0 comments)

Open House in Assonet Massachusetts THIS SUNDAY July 26th-Must See!-Fabulous 4 Bedroom - 07:39 AM
 Open House in Assonet Massachusetts THIS SUNDAYJuly 26th-Must See! Fabulous 4 Bedroom
10 Colonial Drive, Assonet MA..
Directions: Take Route 79 which is Richmond Road, to Colonial Drive.. and follow the signs
 Put on your running shoes and get to this open house on Sunday July 26th, Open House 1pm-2:30pm.
This is the lowest priced 4 bedroom home in Assonet
LIVE THE GOOD LIFE! If Location is Everything.. now you are home! Spacious 4 Bedroom Home with lots of room for your growing family. Eat in Kitchen with sliders to deck. The oversized master bedroom is fit for a king and a … (0 comments)

FREE House Value, Market Analysis Report and Market Trends for Rehoboth MA from a Top Realtor in Rehoboth MA - 06:13 PM
Free House Value, Market Analyis Report and Market Trends for Rehoboth MA from a Top Realtor in the Rehoboth
Many home owners want to know what their home is worth. When you go to this website, simply fill  in the form and you will recieve a market snapshot of homes that were sold and homes that are under contract for Rehoboth MA.
Sign up to recieve email updates on monthly marketing trends too.
We  don't use "strong-armed" sales approach.. we consult and educate and will not hound you!
http://www.Rehobothhousevalue.com
Free House Value, Market Analysis Report and Market Trends for Rehoboth MA … (0 comments)

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