Archives of real estate blog entries for November 19, 2010

Featured blog posts


The Death of the Franchise??? - 10:58 AM
Buggy whips, VCR's, Newspapers, Magazines, And now real estate franchises? 
I have had several conversations with real estate franchise owners over the past several months about whether we are seeing the national real estate franchises on their way to becoming extinct. We have seen many, many franchise offices close in this dismal market period. In contrast, there have been many start-up Brokerages that have found a foothold in this market.  
In addition to the very difficult market conditions, I think there are several major market trends that will spell troubled times for the national real estate franchises:
The REO market has shifted many listings to … (64 comments)

Mesquite NV Video - 12:26 AM
Enjoy this Video of Mesquite Nevada - showing some of our fabulous golf courses as well as a pretty good idea of what our little city looks like.  Many people drive through on I-15 and think that Mesquite is just a wide spot on the road.
But Mesquite is not a secret anymore!  With more golf courses per capita than any city in the U.S, golfers from all over the place visit our little city in Nevada.  Population is around 20,000 and growing.
This Mesquite NV Video from the Mesquite Real Estate Association gives you an idea of why over 1 … (43 comments)

Open Houses - Inspiring Visitors to Give You Their Information - Because they WANT to! - 07:53 AM
Funny - yesterday I posted a blog about getting contact information from open house visitors that ended with a "stay tuned for the next episode" teaser... and got slammed with "I'm doing an open house this weekend, please tell me what to do" notes.
Okay, okay, okay. I hope I didn't overpromise in the blog - I don't have any secret phrase or magic sign-in sheet that will ensure names, numbers and email addresses* from your visitors, but I'll give it a shot.
The question I left you with was "How can you INSPIRE open house visitors to WANT to give … (53 comments)

Common SEO Mistakes New Bloggers Make And How To Fix Them - 05:24 PM

When starting out in the blogging world I didn't have a clue about SEO. I soon began to realize, in order to take my blogging to the next level, I needed to start understanding a little more about the science of search engine optimization.
So, I did what anyone would do when they wanted to learn something, I started studying the experts around the web. And when I say experts, I mean some of the very best of the who's who in SEO.
I will give you the names so when you're ready to really get into SEO, you can … (54 comments)

OMG…Horrified By a Short Sale Squatter - 09:00 AM
Team member thought she was going to be the homicide headline of the 5 o’clock news today.

Backstory first….
We had a short sale bust up two days prior to close due a seller’s refusal to cooperate with the short sale approval terms.  Despite a binding contract and likely suit for non-performance, the seller filed bankruptcy and bailed on closing. [Even teams as great as ours, have our share of war stories]
The buyers of the property were from Vietnam.  This was their first home in the United States.  They had spent money to turn on the utilities for inspections, … (52 comments)

4 Biggest Mistakes Short Sale Sellers Make - 11:08 PM
4 Biggest Mistakes Short Sale Sellers Make

1)      Letting the house fall apart.  Even though you are short selling your home you should not let your house fall into disrepair.  A house full of deferred maintenance is not appealing to buyers.  You can lower the price to compensate and attract a buyer, but ultimately the lender does have to approve the lowered price.   The short sale lender may not want to take a hit on the price just because you decided not to repair that leak in the roof.  Also, the buyer may be using FHA or VA financing and … (59 comments)

Do you know how OLD your tires are? Your life could depend on it. - 09:18 AM
When my family met in Grants Pass Oregon for an annual gathering, my brother's motor home had two tires that virtually exploded on his way South. He was pretty upset about it, not because of the cost, time and frustration, but because the tires really weren't that old. Or so he thought. What my brother was told at the service station is that when he bought those "new" tires, they weren't really new.
So of course I wondered how "new" my tires were when they were installed. There is a cryptic code at the end of a string of letters and numbers … (59 comments)

Success in the Rain - 05:04 PM
Thanksgiving is just around the corner.  Last night I attended a performance by my king, Dave Matthews at a local mall.  Random, right?!?  The new Microsoft store opened and he was there to kick it off.  Anywho....he was talking about how we should be thankful for all the things around us and it really got me thinking.  I have so much to be thankful for.  Health, work, friends, love, family....everything seems to be in alignment.  The pessimist in me keeps waiting for the bubble to burst but I've decided I'm going to enjoy this ride.
ActiveRain has a ton to do … (53 comments)

How to Create a Massive Online Footprint for your Listings - 01:22 PM
 
HOW TO CREATE A MASSIVE ONLINE FOOTPRINT FOR YOUR LISTINGS
 
Most real estate professionals tend to concentrate on building their own individual online identity (or if you're an independent broker/owner like me, building an online company identity).  There's nothing wrong with that.  When they can find you, they can find your listings and learn about your services, right?
But what about building a massive online identity for your listings?
What better way is there to get your properties out in front of the public?  And there's nothing that demonstrates more clearly to your sellers that you are giving them online exposure … (82 comments)

Wait....Forget About The Rain?? - 10:07 PM
Yesterday I was contacted by buyers who wanted to look at homes NOW, problem was they speak Vietnamese and I speak English.  Their friend translated over the phone but was not going to be available to go with us to look at homes.
As my policy is to always have a Buyer Consultation prior to looking at homes, I explained the process to them and we agreed to look on Sunday.  Honestly I thought they would hang up and find an agent available NOW and one who spoke Vietnamese.  Nope, they called me (via their friend) last night with their MLS … (31 comments)

ARE YOU MOVING PEOPLE INTO THE REFERRAL ZONE? - 06:41 PM
ITS THE PERFECT TIME OF THE YEAR TO MOVE YOUR CONTACTS INTO THE REFERRAL ZONE
The majority of us are looking forward to the get togethers and social events that the holidays bring.  I heard an interesting chat on communication and if you put a number on people from zero to 10 in your relationship, zero being a total stranger that you would avoid speaking to, and 10 being someone you see daily and speak to several times a day; then attaching the appropriate number to EVERYONE that you meet.
Its help me to realize that the referral zone lies between 7-10.  So … (15 comments)

Don't Turn On The Furnace - 06:56 AM
On a recent new construction inspection I arrived much earlier than my clients.  I like to do that.  When they arrive I can greet them and introduce myself, and mention a couple of things about the house.
Usually the supervisor comes to the house when he sees me.  Often he will say something like, "Well, you won't find anything wrong with this house!"  This supervisor was no different.
I was inside this house about 10 minutes when I found three serious problems.
This is one.
The house has two furnaces, the lower level being a high efficiency, condensing gas furnace.
Very … (126 comments)

My First Real Estate Video Tour and What I Learned - 10:49 PM
I just did a 'wrap' on my first video today-- a neighborhood walking tour of Telegraph Hill. I LOVED doing it and I learned a ton. What I have to share may come out in several posts, but here are five things I did at the outset that really helped:
1. I checked out what other agents are doing. I was very impressed with Steve Poirier out of Empire Realty's Danville office- he has high production values and created footage that he'll be able to recycle into different marketing efforts. I also like Christophe Choo out of Beverly Hills: a totally different approach with a low-tech driving tour, but he offers … (33 comments)

Buy A Home But Keep Your Secrets - 08:35 PM
When looking to buy, it's important to keep your secrets in one place. Bouncing from agent to agent as a buyer is neither a sound practice nor in your best interest. Here's why:
Imagine this scenario:
You call Agent Al to book an appointment to see his listing on Charming Avenue. Once there, Al asks you lots of questions while answering yours. "So how long have you been looking for a house? When do you need to move? What have you been pre-approved for? What's the most you are prepared to spend? etc, etc." You may answer some or all of … (51 comments)

Home dings that might make for a hard re-sale!! - 12:00 PM
Years ago my mentor told me to not sell a home that I can't resale. I have taken that message to heart and I'm always looking for dings that could make a home hard to resale. I'm going to give you a list of some of the major dings that might make your home hard to sale. Mind you this does not mean you won't be able to sell your home if you have these dings but you might have to take less to make it competitive with similar homes that don't have the ding. It also might take a little … (54 comments)

Can I Purchase a Home Using the Reverse Mortgage? - 07:33 AM
Can I Purchase a Home Using the Reverse Mortgage?  ABSOLUTELY!
This program is called the Reverse Purchase or Reverse Mortgage for Purchase.  The program began at the beginning of 2009, and believe it or not very few people know it exists and those that do know about it don’t fully understand how it works.
 
Here is how it works for a current owner:
Let’s start with the example of the traditional Reverse Mortgage, which is done when someone already owns the home, has equity, and either wants to cash out or pay off their current mortgage without requiring future payments:  … (9 comments)

Lying, Stretching the Truth, Fibbing ~ It's just a little white lie.... - 04:59 PM
Lying, Stretching the Truth, Fibbing ~ It's just a little white lie...

photo courtesy of: http://www.flickr.com/photos/nirak/2113101947/sizes/z/in/photostream/
IMHO stretching the truth in any way, shape or form is shady and just plain wrong.  If an agent calls me to ask if I have any offers or anything working on one of my listings I am going to be honest and truthful.  If an agent calls to inquire about the condition of my listing, again, I will be completely and totally upfront.  That's just how I think things of this nature should be handled. 
Don't get me wrong, I am not going … (25 comments)

Sorry. But Unless You "Chip In" I Ain't Closing!! - 04:26 PM
Hi folks. Have you ever had to "chip in" to make a deal work? I have. If necessary I will help to get a transaction closed.
Here's a perfect example of my willingness to help. I had a closing a few years back. It was a pretty good deal for me. A vacant lot, selling for $240,000 cash, with me being on both sides of the transaction. For me, that's a pretty good pay check. And of course being that it was vacant land, and a cash deal, there was very little work involved.
Anyway, when I wrote the deal, … (118 comments)

That buyer Gave Me the Nordstrom No (No thanks, I'm just looking) - 11:44 AM
The Nordstrom no.  Or Macy's or JCPenny's or whatever.
You are in a hurry, I mean a REAL HURRY!!!  You have to get a new pair of shoes, and you are late late late, for a very important date! 
So picture it, you arrive at the mall, and it is busy...  I mean busy!  There are cars everywhere...  Some are circling, some are waiting, some are coming, some are going, some are waiting for someone to finally pull out and some are waiting to steal a spot that you are eyeing.  Patience for you is at a premium.
You finally get … (94 comments)

Craig's Clicks - ActiveRain Blog Themes (#3) - 05:51 PM

Have you seen that I've started handing out gold stars? This blog series I'm calling "Craig's Clicks". If you want to go back and see previous posts, that link will list them for you. I'm featuring blogs three at a time in these different categories: blog theme, blog profile, and blog signature.
The purpose of the series is to find good examples that inspire us for ideas on our own blogs. I'm clicking around ActiveRain as much as I have time to and if I see something that I like, I'll mark the click with a gold star in my … (60 comments)

Why I'm Going To Rain Camp For The Third Time - 12:03 AM
My third Rain Camp?
Do I have a thing for that Rain Camp rock star Ben Kinney?  Not really.  He has a business model that is very different than my own although I can certainly take a lot of what he says and apply it to my own.
OK, the content of what they present at Rain Camp is totally relevant, whether or not you want to channel Ben Kinney in your own business plan, and the T-shirts are cool.  But that isn't what's going to get me into my car and up Route 95 to Philadelphia.
Is it for the … (67 comments)

Note to Agents – DON’T talk to the other agent’s client!! - 09:45 PM
Note to Agents – DON’T talk to the other agent’s client!!
First let me preface this as more of a rant than a blog post.  I am using this forum to get this off my chest and would like to hear back from the AR community if I am off base with my opinion.
I had a client drop off a check to an agent who was representing the other side of a transaction.  Very simple here is the check…thank you very much…everyone goes on their way.  Well that is what should have happened.
 
The agent tells my client the … (69 comments)

2 year Anniversary- Thank you - 11:17 AM
When Brad Paisley accepted his CMA Entertainer of the Year award, he said "If you ever see a turtle on a fence post, you know someone helped him get there" (or words to that effect)
I thought about how uncomfortable that turtle might be up there on that fence post -in the same way that my ranking and AR points make me uncomfortable.
Points just happen while you're learning new skills or making new friends. ‘Seems odd to be rewarded twice!
I posted my first post November 18, 2008.  No SEO - no signature, no photo.  Even if I had a photo, it … (76 comments)

Sleep? Who Needs Sleep When There's Active Rain??? - 06:47 AM
Sleep?  Who Needs Sleep When There's Active Rain???It's another bleary eyed morning after another night of checking Active Rain after midnight!  Up late, Up early... the cycle continues!  The cell phone alarm goes off at 5:50 a.m. just like it does ever weekday morning, some mornings I have a small argument with myself about getting up, but sleepy me always loses to GET UP NOW me! No caffeine yet  until I've got some food first! If you've been following us regularly, you know I have a strong craving, but it's not for anything you can taste or touch, it's for knowledge, … (58 comments)

The Disappearing Act of the Magical Earnest Money Deposit - 08:51 AM
A contract on one of my short sale properties recently came in. From all appearances, the offer looked strong.
Price in line with recent comparable sales Pre-approval letter 20% down payment An initial deposit of several thousand dollars as substantiated by the faxed copy of the buyer’s personal check At first glance, there were only a few details that needed strengthening.
First, the short sale addendum allowed only 45 days for lender approval. I asked that this be amended to 120 days.
Only 30 days were given for closing once the lender approved the Short Sale. Knowing how appraisals and other … (167 comments)


Blog posts


Pacific Island Land for Sale for $15,000,000 - Eco Development - Virgin Timber - 09:18 AM
Global Island Land Tracts for Timber or Development … (0 comments)

The holidays are coming - Donate and help those less fortunate - 05:50 AM
Thanksgiving is next week and the next thing you know,  Christmas will be upon us.
How has 2010 been for you?  For me, it's been pretty good, a welcome relief after meager home sales in late 2008 and early 2009.
The letters from charities have been coming in the mail and piled up on my desk.  Tonight I sat down, thought about how thankful I am and wrote out checks to eight charities.  Let's face it, there are people and other living beings who are having a tougher time than most of us are.
After closing a home sale it's so … (3 comments)

2311 1/2 Fair Park Avenue, Eagle Rock - 04:24 PM
2311 1/2 Fair Park Avenue, Eagle Rock
 

2311 1/2 Fair Park Avenue, Eagle Rock, offered for lease at: $1,050.00 per month
This is a bright, spacious 1 bedroom upper apartment in a well-maintained vintage fourplex. Pleasant view. Great Eagle Rock location near to trendy shops, restaurants and art galleries. Open parking for one car.
The Bob Taylor Properties Network of informative blogs and websites  
Bob-Taylor.com Our original website BobTaylorProperties.com The company blog NelaLive.net Community events and opinions EclecticAngelino.com A headline newsfeed from around Northeast Los Angeles TaylorHotSheet.com Real Estate Market updates and Open Houses WeMarketRealEstate.com Learn about our … (0 comments)

FUNNY FRIDAY: Finding the Lienholder of Your Mortgage Can Lead to a Whacked-Out Journey to the Black Hole - 02:51 PM
Do you want to know why Short Sales are so hard to handle, why no one can make a decision at a bank, why MERS is become a big issue, and why no one wants to lend money. 
This is a real chart someone made about finding the actually owner of their mortgage.
Via Donne Knudsen NMLS#249822, DRE#01364050 Cobalt Financial Corp. (Los Angeles & Ventura Counties in CA):
Yesterday, a friend sent me this story about a guy who drafted a chart of trying to find out who owned his mortgage.  I'm not sure what's funnier, the process the guy had to go … (5 comments)

Disclosure going to new levels!! - 02:54 PM
Great post on one of the reasons why we need all those disclosures.  I think disclosures are good and yet there are so many disclosures you wonder how much of it actually gets read.
Via Deborah Garvin California Mortgage Financing (Gateway Diversified Funding):
DISCLOSE, DISCLOSE, DISCLOSE!!!
 
Real Estate Agents have heard this refrain over and over and over again.....and, yet, there is a increasing propensity of lenders to want more and more and more.
 
This post is about the latest “trend” in lender/investor underwriting requirements.  It seems that the purchase sale contract, home inspection and appraisal are no longer sufficient … (5 comments)

A Random Act of Culture... - 02:57 PM
This is an amazing video and I suggest everyone look at it.  It will really help put you in the Christmas spirit.  There are things that can bring us all together and lift us up.
Via Bob & Bonnie Horning (Homes and Land of Lancaster County):
A friend sent this to me today. Thanks, Gordo... The holiday shopping has already begun! At least the singing has....You can tell by the reaction of the people at the end how offensive it was to do this in such a public place. I'm surprised the ACLU hasn't filed a suit yet... it's been a few days … (0 comments)

Quantitative Easing- What Does It Really Mean? - 03:20 PM
This little video included in this post is the best treatment I have seen of this topic, bar none.  In 6 minutes you will have a better understanding of what is going on than 95% of the talking heads giving you the news.
Via Nestor & Katerina Gasset Realtors® Wellington Florida Luxury Homes (International Properties and Investments, Inc.):
If you ever wanted to fire anyone as bad as we want to fire Ben Bernanke you will get a kick out of this video. I am sure this is all over the internet now but just in case you have not watched it... here … (1 comments)

Dare I make an Investment Prediction! - 03:49 PM
I try not to make predictions as there are too many variables and I do not want to look like a fool.
When the housing prices were running up and they were gradually becoming less and less affordable I thought we might hit a wave of inflation as I knew housing was eating up too much of peoples income.  I also understood many of the loans would either have to be refinanced at higher payment rates or would adjust upward at some point in the future.  I figured we would inflate our way out of the crises. 
I was wrong.  The … (6 comments)

When you love what you do it shows! EXIT Illinois Rocks! - 12:39 AM
Exit Platinum Realty, Lake In the Hills, Illinois, takes all 3 categories for November!  

TOP 5 OFFICES IN SALES VOLUME
1 EXIT Platinum Realty Lake in the Hills 2 EXIT Realty Consultants Belleville 3 EXIT Realty Advantage Arlington Heights 4 EXIT Elite Realty Naperville 5 EXIT Strategy Realty Chicago-Lakeview TOP 5 OFFICES IN GROSS CLOSED COMMISSIONS 1 EXIT Platinum Realty Lake in the Hills 2 EXIT Realty Advantage Arlington Heights 3 EXIT Realty Consultants Belleville 4 EXIT Elite Realty Naperville 5 EXIT Strategy Realty Chicago-Lakeview TOP 5 OFFICES IN CLOSED ENDS 1 EXIT Platinum Realty Lake in the Hills … (3 comments)

Be Thankful For... - 10:48 AM
Yesterday, I attended our office Thanksgiving luncheon. One of our broker / owners shared some personal experiences with us but also read something that hit home with me.
It applies to all areas of our lives, including the real estate business, and it's especially meaningful with the holidays around the corner.
Be thankful that you don't already have everything you desire - if you did, what would you have to look forward to?
Be thankful when you don't know something, for it gives you opportunity to learn.
Be thankful for the difficult times - during those times you grow.
Be thankful for … (5 comments)

Home dings that might make for a hard re-sale!! - 12:05 PM
Here is a Re-Blog that deserves attention! If you are selling a home to clients that is on a busy road, backing to high power lines, a floorplan that just doesn't not have a good flow, or anything else about the home that really makes it hard to sell and "re-sale latter on" then you really should make your buyers think about these things and how it may affect them.
Via Marchel Peterson Spring TX Real Estate E-Pro (Results Realty):
Years ago my mentor told me to not sell a home that I can't resale. I have taken that message to heart and … (0 comments)

Short Sales: High property taxes are forcing some people into foreclosure - 12:19 PM
Don't miss reading this "re-blogged" post on how our governement(s) are forcing homeowners into foreclosure by increasing property taxes at rates much higher than income increases, simply not leaving enough money in the private sector (our wallets) to meet this demand, especiallty when added to inflation of consumer goods.
Via Scott Auten (CDPE, Distressed Property Specialist):

Miramar FL - I just saw the second of two articles about homeowners losing their home or property because of high property taxes. Most of the stories were based in the Northeast, where the property taxes are much more expensive.
In one story, http://www.wbaltv.com/r/25677444/detail.html, a Maryland Woman … (0 comments)

Do you have buyer's trying to time the real estate market? - 12:39 PM
 

 
 
Here is good information for buyers looking for a foreclosure home or trying to time the market.There are so many good deals out there in the real estate market and not just foreclosures. Many time foreclosures will need to be updated and money spent on them, and unless you can do a lot of the work yourself, you may not really be looking at the right type of home for yourself and your family. It may even take 60 days or more to make the foreclosure home livable.
All home prices for the most part are much lower … (3 comments)

One Phone Call, One Listing, Two Sales and a Whole Bunch of Blogs! - 11:51 PM

This past summer, a very special couple called from my print advertising   asking to see one of my condos.
                                       
They were just starting to think about "right sizing". I like that term better than down sizing.
We spent a day touring new and resale condominiums, including several HomeRome listings. There was some interest, however their home was not sold. One of the options discussed...
Do I Buy or Sell First ? Reverse Contingency 
                                                                        
We listed their home  Summit Chase Townhouse-30 Stablemere Ct- Baltimore, MD. 21209  and we listed it with a reverse contingency.
 
 
Within a … (21 comments)

Sorry. But Unless You "Chip In" I Ain't Closing!! - 04:26 PM
Hi folks. Have you ever had to "chip in" to make a deal work? I have. If necessary I will help to get a transaction closed.
Here's a perfect example of my willingness to help. I had a closing a few years back. It was a pretty good deal for me. A vacant lot, selling for $240,000 cash, with me being on both sides of the transaction. For me, that's a pretty good pay check. And of course being that it was vacant land, and a cash deal, there was very little work involved.
Anyway, when I wrote the deal, … (118 comments)

At The Grove In Glenview - 11:59 AM
 I recently visited the craft fair at The Grove in Glenview National Historic Landmark and took a few shots and the flier with upcoming events for 2011.
Upcoming Events - 2011
Garden Show - May 14 & 15
Civil War Days - July 23 & 24
Grove Folk Fest - October 2.
Craft Faire - Nov. 3-6, 10-13
Holiday Store - Nov. 25 - Dec. 23
The Grove is open to the public:
Monday - Friday: 8am - 4:30pm,
Saturday & Sunday: 9am-5pm
Kennicot House: Sun., 1-4pm (Feb.-Sept.)
Directions to The Grove on Google maps.
 
There are many areas to … (1 comments)

Health Food Shopping Ranks on "Must Have" List - 05:10 PM
A popular trend I've been witnessing for quite a long time now are buyers who are requesting to be located near an organic grocery store.
I discovered this trend a few years ago when I listed a home that was in close proximity to a much applauded new Whole Foods store on Hampden.  As how sometimes things happen when marketing a property, I just mentioned the distance to the new Whole Foods store.  By surprise I began to have home buying prospects call to discuss my listing.  They all referred to the grocery store!
More recently when consulting with buyers, one … (12 comments)

Update on Walk Stick Vistas - Now Panorama, Steel City Theatre Dinner, Happy Thanksgiving! - 01:47 PM
In a previous blog, I talked about a new community in Pueblo called Walking Stick Vistas.  This year, one of the homes scheduled in the Parade of Homes was to be a home in this new community.  Unfortunately, the home was never finished in time for the Parade (and it's still not finished).  Yesterday, there was a ground breaking at that location for a newly branded community (now called Panorama at Pueblo, see:  http://imaginepanorama.com) with Denver-based Capital Pacific Homes starting a couple of spec, patio-style homes.  I am excited that investors and builders are optimistic about Pueblo's future.  I am a … (1 comments)

The Singing Mayors... - 12:04 AM
At Wednesday's Nampa Chamber of Commerce Meeting, we had a powerful guest speaker with a dynamite message of persevering through life. He is one of the coaching staff for the Boise State University Broncos, Coach "V". He was great!
Another highlight of the luncheon event, was our two neighboring mayors, Garret Nancolas of Caldwell, Idaho and our own Tom Dale of Nampa, Idaho.
The two mayors have appeared at other events for community involvement and charity, but on this day, they sang the National Anthem in great harmony!
The attendance was only about 400 people, but it is always great to … (2 comments)

Delafield Hotel..A Delightful Lake Country Waukesha County Experience - 06:54 AM
                                             The Delafield Hotel                                                415 Genesee Street                                              Delafield WI 53018
 
If you want to re-visit the days of old...with the cuisine of new,..be pampered and pleasured with a getaway, a party....lunch, dinner or choose it as the place to celebrate a special occasion...we recommend the Delafield Hotel.
  In Wisconsin, we have a style we refer to as "Old World Charming" ....an appreciation of the architechtural details of old...wide crown molding...multi panel doors and paneling of rich, … (4 comments)

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