Archives of real estate blog entries for June 23, 2010

Featured blog posts


Redefinition of ‘Required Use' Could Level Playing Field - 02:31 PM
The Obama administration is inviting the redefinition of "required use" offers. If discussions lead to an expanded definition of real estate settlement law, they could level the playing field, giving more real estate players a chance at the action. "Required use" is the term applied to the lucrative practice popular with home builders in which home buyers are offered special discounts, paid closing costs, construction upgrades and other incentives if they use mortgage and real estate services affiliated with the builder. Real estate critics have long claimed that affiliated services give privileged providers an effective monopoly that limits competition in the … (13 comments)

The expanded use of verbal negotiation is one surprising side-effect of this real estate market. - 08:14 AM
 
In this day of multiple addenda, additional disclosures, and mandatory reviews, there has been one interesting side-effect that restores some of my faith in humanity.
More often than not, verbal negotiation is employed as a means of expediting acceptance of an offer. And while verbal commitments may or may not be legally binding, the trend seems to be leaning towards honoring verbal promises.
The result is significantly less time expended achieving a meeting of the minds. In this day of instant communication and the “I want it now” philosophy, this is a great way to keep all parties “talking!”
However, … (53 comments)

FANNIE MAE BRINGING DOWN THE HAMMER ON STRATEGIC DEFAULTS - 06:35 PM
FANNIE MAE BRINGING DOWN THE HAMMER ON STRATEGIC DEFAULTS
Fannie Mae announced today that they will make people who can make their payments and who do a strategic default will make them wait seven years before they are eligible for a Fannie Mae loan. It is estimated that there are 11 million homes across America who are under water. That means the home owner owes more on the mortgage than the current market value of the home. We are facing the worst real estate bubble in the history of this county. There were predictions that we could have up to 21 … (158 comments)

The true power is in the Value not the Commission - 07:13 AM
In these trying times where Real Estate takes 5 times the work to make the same ends meet as in preceding years, it is a wonder that we Active Rainer's are still able to push forward.  Pig Headed Determination and Discipline are not to be taken for granted.
With a focal point off of the "closing" numbers and "cash" to be earned - we can definitely strive to new heights in any market.
You have heard it said here on Active Rain as well as from the National Association of Realtors, "80% of home buyers and sellers search on line before choosing an agent or a home to purchase." … (30 comments)

"Is That To Code?" My Answer: Does It Matter? - 07:13 AM
That was the question my clients asked me when I pointed out the dangers to small children inherent at their home inspection.  This patio sold the house!  It is beautiful.  Now don't get me wrong!  I grew up in the 50's and 60's.  We ate asbestos and lead, rolled in radon pits and swam in creeks and golf course lakes while drinking the water.  And I never had a life jacket when I boated or went swimming in the Chesapeake Bay, truthfully, when I was 3 and 4 years old!  I have pictures to prove that!
But today, this would be … (95 comments)

Buyer's Agents..Stay AWAY from my Short Sale Listings! - 09:43 AM
Buyer's Agents...Stay AWAY from my Short Sale Listings! 
Of course I do not mean ALL Buyer's Agents, but if you are representing a Buyer for a Short Sale, and you do not understand, and truly grip what is involved in a Short Sale..drive on by and do not look back.
I CANNOT MAKE the Lenders do anything!  I cannot force them to "be sensible", "be logical"...be ANYTHING.  Short Sales are very different than traditional Sales, and if you as a Buyers' Agent do not completely comprehend how much work, time, effort, organization, pleading, begging, and cajoling I do to try … (65 comments)

Newbie Alert - Soci@l - Putting It All Together - Can Make it all Clear to You! - 01:54 PM
Newbie Alert - Soci@l - Putting It All Together - Can Make it all Clear to You!
 
As an Active Rain newbie, when I saw the blogs reviewing "Soci@l attract friends, followers, andconnections to your business",  I dropped everything else I was studying and downloaded the manual.  I have never been very tekkie, my patience level is medium to short in learning computer "things", and I don't own all of the new gadgets.As I read the book, I implemented many of the suggestions and visited many of the links as I went along, knowing that it would help cement the … (58 comments)

The MOST IMPORTANT Twitter Blog Ever??!!! - 01:03 PM
The TITLE says it all. This could be the most important Twitter blog you will ever read. This post could be the conduit that leads you to the land of Milk & Honey in your Real Estate career. This could specifically facilitate many closings in your future.
Trust me, this is not me tooting my own horn here... I'm extremely far from an expert in the Twitter field! This is an experiment that I thought of over the weekend. It could be very successful, but it will require your participation to work. It's possible that this may have been attempted before … (124 comments)

SHORT SALES, How to Have Your Cake and Eat It Too. - 11:14 AM
When is a short sale Pending?  The lender is not a principal and does not sign the contract.  The seller negotiates with the buyer through their agent in good faith and then submits the offer to their lender for 3rd party approval.  The process is longer and more difficult to complete as we all know in today's market. 
Let's take a vote.  How many of you think?...
1. The property should be marked as Sale Pending subject to 3rd party approval and all subsequent offers are back up offers?
2. The property should be left in the Active Contingent on 3rd … (49 comments)

Power Tool: Forbes US Migration Map - 09:48 AM
I found something I thought was awesome .. and everyone I shared it with so far agreed .. so I think it's a "no-brainer" to share it here!!
Remember the eye-opening video I shared here last week, "Follow the Money," that let you visualize the flow of money across a map of the US? Well, here's a new twist that's even more useful for Realtors and investors.
Forbes has set up an interactive "US Migration Map" that lets you choose any county in the 50 states and see where people are moving from and to. For local Realtors, the benefits are … (51 comments)

I Used to Think ActiveRain was the ONLY Blog I Needed... - 09:32 AM
I Used to Think ActiveRain was the ONLY Blog I Needed...
...Then  I began to test the waters on other blogging sites--hours were spent re-wording posts so that I didn't get penalized because of duplicate content (which we've since learned, right here on ActiveRain, that what we were first to believe about duplicate content is/was not true).  Hours were spent spiffing up a variey of blogs so that they didn't all look identical--nor did they compete with one another.  It was nearly a 24/7 job!
 
I spent over a year doing this and continued to only see results from … (144 comments)

Glamour shots.....go easy with the touch ups! - 07:11 PM
It seems everyone in the Real Estate Industry is a fan, or at least participates, with branding themselves via photos.  The good majority of agents have their pictures on their business cards, for sale signs, websites and all the other marketing material they can get their mugs on.
 
I have slowly adapted to this practice.  I have to be honest, it wasn’t easy but after I took the small baby steps it became easier and easier.  I’m so comfortable with it now, that my associates and I film weekly videos and post them on our site (http://www.theshortsaleminute.com) and Youtube … (93 comments)

What to do when you "drop the ball." - 10:47 AM
Has it ever happened to you?  It has to me and when it does, I hate it.  I've "dropped the ball" by failing to do what I said I would do; by losing the little scrap of paper where I made myself a note to do something; by simply forgetting that I said I'd do something; by misunderstanding what was expected of me and sometimes by just letting time get away from me. You know what I mean.  A client or contact asks you to send them information and you have great intentions and then for one reason or another, it … (80 comments)


Blog posts


Isla Puna Ecuador Land Tracts - 09:25 PM
Pacific Ocean Island Land Tracts … (0 comments)

Pittsburg California Homes for Sale - 04:49 PM
Pittsburg California Homes for Sale
This Report focuses on single family Pittsburg California Homes for Sale by looking at currently available Pittsburg California Homes for Sale and comparing them to sales of Pittsburg California Homes for Sale in April and May.
Right now there are 151 Pittsburg California Homes for Sale with an average price of $217,608.00 and a median price of $199,900.  The homes have been on the market an average of 54 days and are priced at $122.00 per SF.
In May 83 Pittsburg California Homes for Sale sold for an average price of $204,030.00 and a median price … (0 comments)

Antioch California Homes for Sale - 05:01 PM
Antioch California Homes for Sale
This Report focuses on single family Antioch California Homes for Sale by looking at currently available Antioch California Homes for Sale and comparing them to sales of Antioch California Homes for Sale in April and May.
Right now there are 260 Antioch California Homes for Sale with an average price of $226,601.00 and a median price of $220,950. The homes have been on the market an average of 50 days and are priced at $117.00 per SF.
In May 148 Antioch California Homes for Sale sold for an average price of $180,717.00 and a median price … (1 comments)

Oakley California Homes for Sale - 05:19 PM
Oakley California Homes for Sale
This Report focuses on single family Oakley California Homes for Sale by looking at currently available Oakley California Homes for Sale and comparing them to sales of Oakley California Homes for Sale in April and May.
Right now there are 140 Oakley California Homes for Sale with an average price of $278,036.00 and a median price of $254,900. The homes have been on the market an average of 63 days and are priced at $131.00 per SF.
In May 69 Oakley California Homes for Sale sold for an average price of $227,107.00 and a median price … (0 comments)

Brentwood California Homes for Sale - 05:56 PM
Brentwood California Homes for Sale
This Report focuses on single family Brentwood California Homes for Sale by looking at currently available Brentwood California Homes for Sale and comparing them to sales of Brentwood California Homes for Sale in April and May.
Right now there are 194 Brentwood California Homes for Sale with an average price of $467,829.00 and a median price of $359,450. The homes have been on the market an average of 65 days and are priced at $201.00 per SF.  However, there are 7 homes priced at $1,000,000.00 or more, some with land.  This homes really skew the stats.  … (0 comments)

Bull Creek - Austin TX - Slip 'n Slide - 10:57 AM
We had fun in the sun at Bull Creek in Austin TX. I had never been there before, but Mike talks about how he used to go there all the time as a kid, so we took Alyssa there on Father's Day.

It's not quite what I had imagined as I would have thought it would have been more family friendly with more tables and shaded areas and such, but it was just a couple of picnic tables and that's it.  Stuff goes on the ground and you hope no one walks off with it... We walked up and down … (4 comments)

Price Adjustments Going Up? What Are They Thinking? - 04:07 PM
Price adjustments are very common in today's market. Would you agree that most price adjustments you see would be going in the down direction?  This morning, I was browsing the MLS and came across a very interesting listing. Price adjustments went up, and not just one, like happens sometimes, but FOUR!Yes, this house has had four price adjustments UPWARD. It has been listed for 221 days. It listed on 11/14/2009 for $427,395.  On 2/1/2010, the price went UP to $436,995. On 4/11, it went UP to $439,995. On 5/7, it went UP to $474,995... but I guess they thought that number … (33 comments)

Power Tool: Forbes US Migration Map - 01:51 PM
This Forbes site is based on IRS stats and shows population trends and includes data on where money is moving.  Fascinating stuff - find your county and click on the map !
Via Mike Calhoun (RealtyInfusion):
I found something I thought was awesome .. and everyone I shared it with so far agreed .. so I think it's a "no-brainer" to share it here!!
Remember the eye-opening video I shared here last week, "Follow the Money," that let you visualize the flow of money across a map of the US? Well, here's a new twist that's even more useful for Realtors and … (0 comments)

Real Estate Advice to New Agents - 01:26 AM
I just posted comments to a Newbie in Real Estate on AR. I I figured, why not make it a new blog for myself for new agents.
It's not spectatular advice or anything, but many times new agents (realtors) need just a little confidence, and to start out with some small step in learning the bigger picture of real estate.
Certainly as we all know real estate classes are only a way to get your real estate license. Most of that information you will never use in daily real estate conversations or transactions.
So without further ado, here it is...
Welcome … (10 comments)

Fairview Heights IL Home for Sale - 03:43 PM
15 Spivey, Fairview Heights, IL $30000.
Home for Sale Fairview Hts IL
Property Details Bird's Eye View Get Local Streetview

 
$30,000 - 15 Spivey Lane, FAIRVIEW HEIGHTS
2Bedrooms1Baths800SQ. Feet0Acres BANK OWNED! NEEDS SOME TLC-PROPERTY BEING SOLD "AS IS" CONDITION-BUYERS AND BUYERS AGENTS TO VERIFY ALL MLS INFORMATION-PROOF OF FUNDS WITH CASH OFFERS OT PRE-QUAL LETTER WITH FINANCED OFFERS-SELLER WILL MAKE NO REPAIRS NOR INSPECTIONS-SEWER IS UNKNOWN-BUYERS TO VERIFY SEWER WITH CITY-PLEASE ALLOW 72 HOURS FOR RESPONSE TO OFFERS-ADDENDUMS TO FOLLOW AFTER CONTRACT IS ACCEPTED (less)
BANK OWNED! NEEDS SOME TLC-PROPERTY BEING SOLD "AS IS" CONDITION-BUYERS AND BUYERS … (0 comments)

Business Planning - 06:17 PM
BUSINESS PLANNING
  
•1)       Ask yourself, where did my business come from?
•a.        What do you want to accomplish for this year?
 
•2)       Ask yourself these 6 questions:
•a.        Why do you do what you do?
•b.       What's important to me about being successful in real estate?
•c.        Why is it so critical that you change the way you've been running your business?
•d.       What rewards will you realize if you are successful at making positive changes?
•e.        How will it make me feel to achieve those goals?
•f.         How will I feel if I stay right where I am … (5 comments)

Waterlefe in Bradenton Florida - 09:20 AM
Waterlefe has to be one of the most beautiful gated communities in Bradenton Florida. Located on the east side of Bradenton, east of I 75, this breath taking community has everything anyone would want. Golfing, fitness center, country club, and much more. Waterlefe consists of a combination of single family homes, condos and townhomes. No matter which style of home you decide to purchase, they are all top of the line. Waterlefe is for the successful executive as it is rather pricey to live there, but if you can afford it, it is worth every penny. As I was driving through … (0 comments)

Ybor City in Florida - 09:38 AM
Ybor City is a historic neighborhood just east of Tampa Florida. It was founded in 1886 by Vicente Martinez Ybor, a prominent Spanish-born cigar manufacturer and in its peak had 200 cigar factories and rolled 700 million cigars per year. The residents were from Cuba, Italy and Spain making this a very diverse city. Many of the old buildings are still there and there has been an effort to revitalize the community. There are many little shops lining 7th Avenue and at night there are many night clubs to choose from. On Saturdays there are vendors in the park with live … (0 comments)

Citi Mortgage Approves Kissimmee Florida Short Sale AND issues a Waiver of Deficiency. - 08:19 AM

Property:
3 bedroom 2.5 bath townhouse in Kissimmee Florida.
Hardship:
Investor owned property. Loss of income. This is the 3rd Investor Short Sale we have completed for this Seller.
1st Mortgage with Citi Mortgage for $92,000. Agreed to accept $54,442 or 60% of the balance owed.
No Seller contribution or promissory note. Citi Mortgage issues a waiver of deficiency. It doesn't get any better than this.

This Kissimmee Short Sale transaction took 35 days from listing to closing!!!
Challenges:
None. The property was placed on the market on May 18th. It went pending May 21st. The Kissimmee Short Sale … (14 comments)

Get The Latest List Of Outer Banks Short Sales From Corolla To Hatteras - 04:50 PM
732 Hammock Lane,  Corolla,  NORTH CAROLINA 27927 (Mapped) Price: $599,900 OVER $300,000 LESS THAN ASSESSED VALUE!!!!Located in the "Reserve Collection" of the Hammocks in ... View Details View Photo Gallery (8) Save Property MLS#: 61331- Bedrooms: 5 Bathrooms: 5 Partial Baths: 1

If you are looking for the latest list of Outer Banks Short Sales to hit the market you need to go to Just Listed: Outer Banks Short Sales. Any new foreclosures that come on the market will show up on that page. Add it to your favorites and check back everyday. Go to Outer Banks Short Sales for the full list of Outer Banks Short … (0 comments)

2781 BURWOOD AVE, ORLANDO FL 32837 - 01:21 PM
 
 MLS# O4989460               2781 BURWOOD AVE, ORLANDO FL 32837     $$$ 119,900 $$$

Short Sale - 3 bed / 2 bath over 1600 sqft. Great home in Deer Run...spacious & open floorplan. Enjoy the screened patio offering a private setting. Eat-in kitchen, new flooring & interior doors & more! Great location - shopping/schools & The Loop are nearby.
For the latest status on this property and many more in the Orlando area, contact Steve Glose with Keller Williams Realty direct at 407-616-7286 or visit www.thefloridalivingteam.com. For a faster reply you can also email me at steve@thefloridalivingteam.com. U.K callers dial: 020-3239-7286. All information is deemed reliable but not guaranteed … (1 comments)

316 EAGLE RIDGE DR # 316, DAVENPORT FL 33837 - 01:27 PM
 
 MLS# S4671369                  316 EAGLE RIDGE DR # 316, DAVENPORT FL 33837    $$$ 164,900 $$$

Golfer's Delight!!!  Golf course community condo with beautiful relaxing view.  This is an awesome looking place to call home with many upgrades, such as granite, laminate flooring, cabinets, appliances, and garage.  Move-in condition. Gated community with pool and walking distance to Ridgewood Lakes Golf Clubhouse.
For the latest status on this property and many more in the Davenport area, contact Steve Glose with Keller Williams Realty direct at 407-616-7286 or visit www.thefloridalivingteam.com. For a faster reply you can also email me at steve@thefloridalivingteam.com. U.K callers dial: 020-3239-7286. All information is deemed … (0 comments)

"My Buyers Love the House but the basement was repaired incorrectly...." - 12:04 PM
   We appreciate when an agent takes the time to give us a showing report especially when there are offers whispered among agents so that everyone can put their best offer forward.  Many homes in Wisconsin have had basements with reinforced beams and structural work done by reputable contractors. If we have a listing with such work, we offer a copy of the warranty to any prospective buyer for their review or give it to the home inspector so he knows what work as been done as some of it may have involved exterior excavation.
 

We believe that the … (9 comments)

Mount Vernon Ohio Condos at Colony Condominium (SOLD) - 09:49 AM
Colony Condominiums are located within easy walking distance of historic downtown Mount Vernon on East Gambier Street
View all of our available Condominiums in Mount Vernon, Ohio organized in price order
Contact Sam Miller of REMAX Stars Realty (740) 397-7800  www.SamMiller.com
… (0 comments)

201 Brookgreen Drive -- $315,000 -- SOLD JULY 2010! - 01:41 PM
… (0 comments)

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