Archives of real estate blog entries for May 30, 2010

Featured blog posts


Social Media is a Sinkhole? HOGWASH! - 12:47 AM
Recently we have all read the blogs and the comments about Social Media and its effects on Real Estate.  Comments varied from "Social Media is a sinkhole" to "Social Media is a fad" to "Social Media does not sell homes" and each blog and comment had more than opinion behind it.    The blogs and comments negative slant was aimed at convincing the reader that Social Media has no place in the Real Estate world unless it is an affinity group business communication.  To that I say HOGWASH.
Social Media is described by Wikipedia as this: "Social media is media designed to be disseminated … (39 comments)

Monthly Private Mortgage Insurance – It Doesn’t Make Any Sense - 12:59 AM
It is inevitable that FHA will play less and less of a role in the lending market.  As this unfolds, it's critical for loan officers, Realtors and borrowers alike to understand the many options in the improving private mortgage insurance market.  In the distant days when home values were increasing, it made perfect sense for borrowers to opt for monthly mortgage insurance and wait till their home had appreciated to the point where they had a twenty percent equity position. They'd soon call their lender to get an appraisal ordered and drop their monthly mortgage insurance.  Those days are gone.  In … (20 comments)

Top 50 Google Tools for Business - 09:53 AM
The Top 50 Google Tools for Business
Edited & Updated on 4/21/2012:This post was written nearly 2 years ago and while Google has shut down a few of the products below, they have also launched some even more exciting and useful FREE tools and services for you and your Business.
CHECK OUT THE *NEW* TOP 50 GOOGLE TOOLS FOR BUSINESS UPDATE!
This compilation is for all of you out there who use Google for searching and SEO, but may not be aware of all the other tools and services that Google has to offer for your business.  My inbox used … (127 comments)

LENN'S COLD HEARTED ADVICE TO FOLKS CONSIDERING ENTERING THE REAL ESTATE BUSINESS or HIRING A NEW LICENSEE. - 06:57 AM
LENN'S COLD HEARTED ADVICE TO FOLKS CONSIDERING ENTERING THE REAL ESTATE BUSINESS or HIRING A NEW LICENSEE.
"I WANT TO HELP PEOPLE".
If that is the motivation for going to real estate school, getting a license and then practicing real estate brokerage, please don't even think about it because, sooner or later, when something goes wrong with a transaction or buyer or seller, the first words will be,
"BUT I JUST WANTED TO HELP".
Which, of course, doesn't help at all.
We see many ActiveRain posts about why a person would want to enter the real estate business.  Many are well founded … (157 comments)

The Lock Box Does NOT Give You License to Violate Showing Instructions! - 12:38 PM
This is an official rant to less-than-professional Realtors:  A lock box does NOT give you license to violate showing instructions! The ease with which a Realtor can show a home has a direct correlation to how often the home is actually shown.  I get that.  But there ARE situations where "leave message and go" isn't appropriate. The seller may have small children at home, work from home, have a physical handicap that requires a little extra time to leave the home for a showing (or a host of other issues). 
The first less-than-professional situation occurred with an out-of-town Realtor who … (120 comments)

INFINITE TITLE FAQ - For Consumers - 05:39 AM
What is meant by "Title?""Title" is the foundation of ownership property. It means that you have a legal right to possess that property and to use it within the restrictions imposed by authorities or limitations on its use-superimposed on the basic right to possession by previous owners.
What is Title Insurance?The legal answer is "the application of insurance principles to hazards inherent in real estate titles."
Do I need Title Insurance?Most definitely! Title insurance is a means of protecting yourself from financial loss in the event that problems develop regarding the rights to ownership of your property. There may be hidden … (25 comments)

Raincamp Hangover - Bellingham, Wa - 10:10 PM
Raincamp Hangover - Bellingham, Wa
Last week, I was one of the lucky ones to attend Raincamp in Bellingham, Wa.  I set the alarm for 5:30am, and drove down that morning.  With border delays and the inevitable stop at Starbuck's, I squeeked in at 8:50am - Raincamp starts promptly at 9:00am! 
It was very exciting to be an attendee - I couldn't wait to learn more about social media and blogging.  Surprisingly, I think I was the only stager in attendance.  If there were others, I didn't recognize them. Wow, seeing Ben Kinney and Brad Armstrong in real life was like … (27 comments)

Are You Speaking Because You Have Something to Say? - 11:05 AM
I don't like it when my favourite bloggers post every single day. 
[OMG, did I just say that out loud?  Yup, I did.]
When you post every day, it makes it less special when you do post...at least to me. 
But then again, you're not really writing for me, are you?  You're most likely writing for the consumer.  And I get that.  But if the consumer is going to be looking at the things that you've written, will they not feel the same way?
I can't imagine the pressure of feeling like I need to write a good post every … (56 comments)

Dealing with a real estate “hobbyist” can really be counter-productive to your business. - 08:33 AM
 
If you have been in the real estate business for some time, you will have almost certainly encountered a real estate hobbyist at some point in your career.
A real estate hobbyist is one that loves to study the market and trends, and knows everything about every house for sale, or going up for sale, in a given geographical area.
These interested parties have physically looked at every property on the market, and have usually called many real estate agents for showings and advice. At some point, they may even have written a low-ball offer with plenty of “outs,” just … (86 comments)

How to Use Facebook in Your Negotiating - 05:07 PM

 
May I be honest?  This idea came to me from some of my young, tech savvy clients.  They had put an offer on a house, found the sellers on Facebook, and started to follow their status updates relating to their home sale.  Wow.
You can use Facebook to get a leg up on negotiating.  Do a search on the names of the people on the other side of the transaction.  If they have a public Facebook account, you will be able to see if they are posting any information on their home sale or purchase.
For example, if a buyer posts … (246 comments)

A New Way to Respond to the Mega-Comments on a Featured Post... - 09:54 PM
Yesterday... I was fortunate to write a post that received quite a bit of activity.  It was titled  Helping Others, Frozen Chickens, and Mother's Day... .  I guess people liked it... cuz so far it has received 45 comments... and many of them are "excellent."
In the past... when I have written a post that got lots of comments... I have tried... I really have... to keep up with the comments.  I think it is VERY important to try and respond to each one.... and I DO try. 
My feeling is... that if someone thinks enough of my post to … (167 comments)

Need Help Getting Buyers Off of the Fence? - 03:03 AM
Most of us are feeling the pinch of the current economy ourselves so we can certainly understand buyers' fears.  My guess is that many of them are concerned about the security of their jobs, particularly in areas where unemployment is high.

 
A previous iteration of this program was called "H.E.L.P."  The program has been expanded and renamed the $AVE Program.
For a one time enrollment fee of $595, home buyers receive:
•·        Discounts on home services and with retailers
•·        Monthly e-Newsletter with home tips and additional savings
•·        HUD confidential credit counseling
•·        Time-saving home checklists
However, the best feature of this … (55 comments)

Last Week On Active Rain: May 23rd - 30th - 01:13 PM
This was a quiet week on Active Rain.  No proxy errors or shoot outs.  And a lot of good blogs to choose from for this week's favorites.

1.  Lottie Kendall A Feel-good San Carlos, California story for a Sunny Sunday  This story made me smile, and it's a tale that will make all of us feel a little better about basic human nature.
2.  Gary Woltal: Get Your Keys With Your Locks To Move On Gary gives us a little lesson on basic productivity, using locks and keys for his metaphor.
3.  Kathy Streib: Ladies (and gentlemen)... Size Does Matter! … (55 comments)


Blog posts


OPEN HOUSES FOR SUNDAY MAY 30 IN NORTHEAST LOS ANGELES - 10:25 AM
Listing of Sunday's Open Houses from I-Tech MLS Listing of Sunday's Open Houses from Combined L.A. Westside MLS
Featuring Open Houses in the Los Angeles communities of Eagle Rock, Highland Park, Mount Washington, Glassell Park, Sycamore Grove, Garvanza, Montecito Heights, Cypress Park, Lincoln Heights, El Sereno, Monterey Hills, and Hermon.

… (0 comments)

The Diet Continues - Week 37 - Problems - 12:35 PM
This weeks weigh in was up 2.2 lbs.  I have been to embarrassed to admit one of the real problems to people.  Money is tight and I have not replenished some of my vitamins.  They run several hundred a month and right now I am choosing between that and things for my kids, like swim lessons and summer camps.
Things are picking up a little, but I never spend money in escrow until it is in the bank!
… (3 comments)

Countdown to Lummis Day The Festival of Northeast Los Angeles: Ruben Martinez and the Border Balladeers - 07:23 AM
The 5th Annual Lummis Day Festival will be held on Sunday, June 6 at two locations: Lummis Home (200 East Avenue 43) and nearby Heritage Square Museum (3801 Homer Street). The opening poetry gala begins at 10:30 am at Lummis Home. Art Exhibitions will open at Lummis Home at noon and continue through 5:00pm. Music, dance, food, comedy, and community activities take place at Heritage Square Museum, from 12:30pm-7:00pm.
Ruben Martinez and the Border Balladeers will appear at 3:30 PM on Stage 1. 
 
From Martinez' MySpace Page:
Rubén Martínez is a fixture on L.A.'s cultural & political landscape. Writer, musician, … (2 comments)

Losotrana Virus: The Attack That Felled The Queen - 08:50 AM

As reported yesterday, one of my self-hosted WordPress sites, http://www.QueenOfKludge.com fell victim to a virus attack.  The virus infected all of the .php files residing on the host server.  (GoDaddy in my case).   The site has now been rebuilt using Active Rain posts imported with Jeff Turner's excellent Import Active Rain Posts plugin.
I highly recommend visiting the WPSecurityLock blog http://www.wpsecuritylock.com/blog/ and reading all of the blog posts about this recent wave of attacks.
I got WPSecurityLock's eBook, too, which contains a lot of good information.
Here are a few more links with information about Losotrana:
http://lorelle.wordpress.com/2009/09/04/old-wordpress-versions-under-attack/  
http://mashable.com/2009/09/05/wordpress-attack/
(These articles … (3 comments)

Purchasing REO Property - 08:33 AM
Considering the purchase of Foreclosure property? Here are some steps to follow to help you achieve your goal. The market is being bombarded weekly with new Foreclosures in every area in the USA. How can you find them?
Simple, call a real estate agent in your area and ask them to send you daily listings that meet your criteria, don’t be vague, be as detailed as possible and within a realistic price range. In other words if you qualify for a $100,000 loan don’t focus on $ 1,000,000 homes, odds are you will never get an offer accepted and if you … (0 comments)

Read Those Regulations Before Making An Offer On A Property - 08:40 AM
In modern America, many neighborhoods are organized as developments. Such developments often have rules and regulations that can be surprisingly restrictive. Read Those Regulations Before Making An Offer On A Property Planned developments are all the rage these days in real estate.
A developer doesn’t just build a bunch of homes any more. Now, they build an image of a particular type of living style. To maintain this image, the developments come with rules and regulations that can be very overbearing. If you fail to read them thoroughly before making an offer on a home, you may be in for a … (2 comments)

Real Estate Ads - Home Style Terms and Their Meanings - 08:47 AM
Whether you’re buying or selling, reading real estate ads can be confusing. Here are explanations of more style terms used in real estate ads.
“Split Foyer” style A home entered by a foyer with a half flight of stairs up to the upper level (where the living spaces and one or more bedrooms are usually located) and a half flight of stairs to the lower level (typically housing the family room and additional bedrooms).
“Tri-Level” style A home with three levels. It is typically entered on the middle level and has half flights of stairs to the highest and lowest levels. … (1 comments)

Pensacola Home for Rent - 3 bedroom 2 bath - Norhteast - Olive Rd Area - 11:26 PM
Pensacola Home for Rent - 3 bedroom 2 bath - Norhteast - Olive Rd Area This is a wonderful older home located so very convenient to shopping and medical facilities. New parquet floors in living room, breakfast area and one bedroom. New carpet in master bedroom.Kitchen with breakfast bar with open style over looking living room.Home has been painted throughout inside. Wood deck overlooking backyard area. For more information on this and other rentals in Pensacola, Florida visit Pensacola Homes for Rent. You may qualify for one free months rent as well. Pensacola Home for Rent - 3 bedroom 2 bath … (8 comments)

Consumers Spending less, will it help home sales? - 01:46 PM
People are making a little more money now and spending less of it.  Will this put some money back into bank accounts and make them feel better on purchasing that new home?  chart below show increase in Real Personal Income.

 
 
Good article on Morningstar listed below. Section listed below shows housing thoughts from article.
 
http://news.morningstar.com/articlenet/article.aspx?id=339411&pgid=rss
 
Lots of Housing Data, Not Many InsightsThere was a plethora of housing data this week, but a soon to expire homebuyers' credit made the numbers less meaningful. Existing homes sales, new home sales, and housing prices all performed better than Wall … (0 comments)

1BR Condo for Rent - 01:48 PM
… (0 comments)

Fort Mohave AZ Real Estate ~ Fort Mohave Tribal Land On The Colorado River - 11:00 PM
My husband, 'The Famous Shredder' is not only one of the best lead guitarists I've ever heard -- he's also a pretty darn good photographer.

Clayton grabbed these shots on the north side of Aha Macav Drive about halfway between the Avi Resort and Needles Highway, the route to Laughlin, NV -- about 5 miles west of Fort Mohave, AZ.

This is tribal land, owned by the Fort Mohave Indians. They often do 'controlled burns' on their land to safely remove dried sagebrush and mesquite trees that could create a fire hazard during our monsoon season and threaten the … (5 comments)

Tips for Selling your home in Summer Market - 08:37 AM
Now the weather is nicer in the summer we all can tend to get busier with our social life, schools are ending so vacation are planned, daily trip to the pool is on scheduled. However if you are planning to sell your home in Virginia summer real estate market what you can do to make your home stand out in the crowd???? Inside: Inside still is very important factor while selling your home. Here are tips to enhance your indoor space: 1. Turn on the A/C: Leave the temperature at a comfortable level especially on hot & muggy days. Buyers once … (7 comments)

Memorial Day: Lafayette Square: Manhattan Ave, W 114 St, Morningside Ave - 11:17 AM

Lafayette Square: Manhattan Avenue, 114th Street, and Morningside Avenue
Photo Courtesty of: Mitchell Hall, The Corcoran Group
 
Manhattan Avenue, 114th Street, and Morningside Avenue bound Lafayette Square, which is located in the Morningside Heights section of Manhattan. The City of New York acquired this property by condemnation on July 28, 1870 along with the land used to build Morningside Park.
The square contains large, shady sycamore trees and a monument entitled “Lafayette and Washington.” French sculptor Frederic-Auguste Bartholdi (1834-1904) designed the bronze statue, which depicts both figures on a marble pedestal, clothed in colonial uniforms, and shaking hands with … (4 comments)

The Last Lecture Reivewed with a Personal Death and Twist - 08:22 AM
The Last Lecture by Randy Pausch video snippet gives you an idea of  Randy Pausch's purpose in giving this Carnegie Mellon "Journeys" lecture.   I bought this book having seen the lecture on the Oprah Winfrey show and I knew my Mom was dying.  I thought this might help us identify what Mom would /could do before her demise.
I start with the elephant in the room he mentions.  My Mom, 80, just died from lung cancer.  We will be laying her to rest this week.  She died with hospice help and without complaining.   I just completed chemo therapy Jan 25th and finished my … (0 comments)

Are your Real Estate Pictures Like Painitngs? - 08:52 AM
Are you a professional photographer?  Are your listings showcased like treasures cherished by a professional photographer? 

My Sellers emailed after their family applauded the photos... the house looks like a painting.  The pictures are stunning, they said.  I hire a photographer trained to achieve excellence.
What are you doing to ensure your homes are seen?
If you are taking your own photos, what camera do you use?
Do you have a wide angle lens?
Feel free to share your best in comments and let's see what unfolds! 
… (2 comments)

Fannie Mae "Loan Quality Initiative" begins June 1, 2010. How will this affect home buyers? - 08:07 AM
Some new Fannie Mae rules going into effect on June 1'st.  Here's a fine summary from Amy Jones:
Via Amy Jones (Chandler, Arizona RE/Max Excalibur):
Beginning with applications dated June 1st, Fannie Mae is implementing the “Loan Quality Initiative” (LQI) guidelines.  All Fannie Mae lenders must adhere to these guidelines.  In a nutshell, the LQI guideline changes are:
Credit re-verification the day of funding:  Fannie Mae will require the borrower’s credit to be repulled the day of funding.  If the credit obligations change by more than 2%, the loan is required to go back to underwriting for approval.  Peoples Mortgage will reverify … (0 comments)

We Sell Disney Short Term Rental Holiday Homes - 09:43 PM
We Sell Disney Short Term Rental Holiday Homes.  Currently, prices are down in the Disney area short term rental market. Occupancy is down also, but now is the time to purchase one of these money making ventures. During peak season the larger homes rent for $2,500 a week.
We have been selling in the Windsor Hills community. They are close to the park, there is a 24 hour guarded entrance, their club house and pool are outstanding, and the whole community just feels like a Holiday Vacation.
These properties are independent businesses grossing $60,000 to $70,000 in the past two recession … (3 comments)

LENN'S COLD HEARTED ADVICE TO FOLKS CONSIDERING ENTERING THE REAL ESTATE BUSINESS or HIRING A NEW LICENSEE. - 06:57 AM
LENN'S COLD HEARTED ADVICE TO FOLKS CONSIDERING ENTERING THE REAL ESTATE BUSINESS or HIRING A NEW LICENSEE.
"I WANT TO HELP PEOPLE".
If that is the motivation for going to real estate school, getting a license and then practicing real estate brokerage, please don't even think about it because, sooner or later, when something goes wrong with a transaction or buyer or seller, the first words will be,
"BUT I JUST WANTED TO HELP".
Which, of course, doesn't help at all.
We see many ActiveRain posts about why a person would want to enter the real estate business.  Many are well founded … (157 comments)

Read Those Regulations Before Making An Offer On A Property - 08:52 AM
HA!  HOW ABOUT . . . .
You get to the settlement table and find that, while there is no HOA, the property is included in a community with restrictive DEED COVENANTS.
That is another post.
Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Via Bradenton Real Estate - Linda Reynolds:
In modern America, many neighborhoods are organized as developments. Such developments often have rules and regulations that can be surprisingly restrictive. Read Those Regulations Before Making An Offer On A Property Planned developments are all the rage these days in real estate.
A developer doesn’t just build a bunch of homes any more. … (10 comments)

WHAT? Lenn, you don't advise a Radon Inspection?? DON'T LOSE A GOOD HOUSE BECAUSE OF A HIGH RADON READING! - 10:42 AM
A POST YESTERDAY ABOUT THE HOME INSPECTION MATTER IN VIRGINIA inspired some very nice comments from ActiveRain members.    
SEE:   VIRGINIA HOME BUYERS BEWARE! DO NOT RELY ON THE SELLER FOR PROPERTY CONDITION INFORMATION. GET THE PROPERTY INSPECTED FOR YOUR OWN PROTECTION!
WHAT?  Lenn, you don't advise a Radon Inspection??  Many of the comments contained suggestions about home inspections.  Some of which I added.  However, one suggestion was to advise a Radon inspection.  I responded that I don't advise a Radon inspection and promised a post outlining why. 
A RADON INSPECTION IS A CONTINGENCY TO A CONTRACT OF SALE.  One thing I learned many years ago is … (22 comments)

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