Archives of real estate blog entries for June 10, 2011

Featured blog posts


Finding the Pot of Gold Wouldn't Be Easy - - - - Friday Photos - 06:15 AM
Finding the Pot of Gold Wouldn't Be Easy We had a quick rain storm pop up the other night, not long enough to drench but just make the late afternoon steamy. As I turned down a bit of a hill, I had a most pleasant site to see. Mother Nature thought a bit of color was needed on the landscape.

I stopped to take a quick photo and to just imagine how big a pot of gold was hiding at the end. I drove a few more miles and got onto the highway and as I made my way across the … (28 comments)

SELLER REPAIRS/CREDITS AND OTHER BURRS UNDER THE SADDLE. FIRST IDENTIFY THE PROBLEM. IS IT A REPAIR?? OR IS IT A SERIOUS DEFECT?? - 10:13 AM
FIRST IDENTIFY THE PROBLEM.  IS IT A REPAIR??  OR IS IT A SERIOUS DEFECT??
Why on earth would a seller put a property on the market with mold, asbestos, over the hill roof, etc. defects??? 
These items should be remediated prior to listing or, at least, prior to making available for showings.
By having such matters, mold, asbsetos, etc. in the contract brings in the risk of a serious and lasting insurance problems, lender involvement and inspection complications.  That is, of course, unless a property is available for cash only and with full disclosure, the sellers risk serious future litigation.

IS … (25 comments)

Watch out for Fellow Bloggers - 09:57 AM
Watch out for Fellow Bloggers  The title has a double meaning. I mean it in the sense of being helpful toward other writers here on AR. 
Looking out for each other is an important aspect of being a member of a community. We see it in our neighborhoods. Why not in our on-line networks?

 
So here are some thoughts on how YOU can watch out for your fellow bloggers: 
 
TYPOS
Let others know about major typos, especially in a title, which are such a smack-you-in-the-face mistake. I'm not suggesting we critique each others' spelling and point out every … (73 comments)

Opening Up About Open Houses - 11:21 PM
There have been several thought provoking articles written recently on open houses and why some agents really do them. The point that agents would offer to hold a listing open while surreptitiously using them to just prospect for buyer clients is actually a rather old modus operandi; however, my experience has been different.
I have run into sellers who complained to me that they found out that their last agent was using their home as "buyer bait" to be sure, but more often than not their complaint was that their last agent did NOT hold their house open. In my neck … (62 comments)

How to Rent an Apartment in Manhattan NYC: - 08:40 AM

Renting an Apartment in Manhattan, NYC
Everyone wants their first New York City rental experience to be a positive one. As a current or future Manhattanite, you should familiarize yourself with the rules of renting in order to make your experience as hassle and worry free as possible.
Carefully read any documentation presented to you by your future landlord before entering into any contract. Although many leases contain predominantly boilerplate language, in many instances clauses may be added to the lease contract that supersede or alter the lease agreement in some way. Such additions are called riders.
Also, the … (27 comments)

Quitclaiming Your House to Your Ex-Spouse Could Tie Up Your Credit for Years - 08:13 AM
Your credit could be tied up for years if you quitclaim your ownership interest of the house to your spouse or ex-spouse. This could hurt you even if you maintain excellent credit. This future impact may be overlooked in a divorce agreement.
Credit Score and Debt Ratios are Two Separate Issues
There are two separate issues at play here;
The impact of your mortgage payments on your credit The debt load a future lender considers safe for you as a new borrower The Impact of Your Mortgage Payments on Your Credit
Even if your ex-spouse makes perfect payments on the mortgage, … (55 comments)

DRASTICALLY OVERPRICED!! - 09:38 AM
That's Right!  You didn't misread!  We are DRASTICALLY OVERPRICED at a Cool Million Dollars!
 
Why a Million Dollars you ask?  Well....the home owner thinks his home is worth more than the comparable sales in his neighborhood.  He figures it's worth in emotional value alone at least $10,000 over the highest sold home in his neighborhood!  No matter how much proof I could give him to contrast "his educated home selling opinion" he would not budge....He said lets at least try (famous last words)... So I said...We may as well price it at a Million Dollars!  Why, he asked?!  I don't want that much for my home.  I know … (88 comments)

If you dont ask, then the answer will always be no... - 12:55 AM
If you don't ask, then the answer will always be no...
Have you ever had a friend list a home, and not use you?  Well, let me be more specific...  Have you ever spent time with your friends, and were afraid to tell them you were in real estate...  Hesitant to ask them to use you...  Thought twice about showing them the expertise you can bring to the table in helping them move forward in the next phase of their life, only to see them list with someone else?
First you get mad that they didn't use you, then you realize … (98 comments)

Strategic Default Is the Next Big Surprise - 10:11 AM
Despite conditions that should have been apparent to most of us for years, the collapse of the housing industry took most of us by surprise.  Even when there were obvious signs that the housing ship was sinking, entities like the NAR and the President remained in denial, insisting that the industry was strong.  Even as the downward spiral continued, the talk was that a soft landing was imminent. The three most striking elements of the observations of government, professional organizations, and a fair number of "experts" were, Blah, Blah, Blah.  They denied the issue until it buried us.
Now we have … (46 comments)

The Overpriced Listing . . . Thanks!! - 12:40 PM
The Overpriced Listings . . . Thanks!!
After reading Brenda Mullen's recent post: DRASTICALLY OVERPRICED!! I wanted to add my own, personal/professional THANKS!!  Thanks, not only to Brenda for a well-written post on how overpricing -- even by $10,000 -- can make it seem like a million dollar listing, i.e., not many buyers in that price range and it's out of reach.  But thanks, in general, for overpricing that puppy.  It makes the other properties look even better!
As an Exclusive Buyers Agent in the Metro Portland market, I look at a lot of listings.  A LOT!!  Not saying that listing agents don't … (40 comments)

What Does Your ActiveRain "Body of Work" Say About You? - 04:17 PM
 
What does your ActiveRain "Body of Work" say about you?  Seriously, we are all here for a reason...most of us it is because we want to build or improve our business, meet fellow professional colleagues, keep abreast of changes in the industry and/or maybe just spy on our competition!
 
Whatever the reason, I wonder if some people actually THINK about what their entire ActiveRain presence looks like from the outside.  Now, we all know that many people do NOT think before they Tweet or post on Facebook...(I am soooooo not going there with this post).
 
The genesis of … (50 comments)

Why Would Anyone Want To Remove Content From Activerain? - 04:20 AM

 
A few emails triggered this post, one of the questions I received is because someone doesn't use activerain anymore, should they delete their content.  I also saw a similar conversation taking place on facebook, I don't quite get it at all? 
You probably have a love/hate relationship with Active rain.  In my case...I do.
I have recently changed cities due to the office being located in Ormond Beach, while I am no longer a REALTOR,
I am a real estate agent who chose a different path.  To refer business and keep my license active and follow my dreams.  At … (44 comments)

One Year Since Our First Active Rain Post and Just a "Few" Things We've Learned! - 06:16 AM
One Year Since Our First Active Rain Post and Just a "Few" Things We've Learned! June 10, 2010, 8:56 a.m.  We hit submit and our first ever blog post was out into the blogosphere.  After months of lurking and the rare comment, we were in the pool!  We were one of the lucky ones, we got comments the first time:)Well, since then, 600 posts, 330,000 more points, 74 Featureds, 456 Called Shots, 17,000+ comments received, over 15,000 comments left, and 232 subscribers gained and treasured! Yeah, we've had a busy year!Our only regret?  That we didn't start earlier, MUCH earlier!What have … (123 comments)

Debunking the Myth: You Will Not Save Money By Not Using a Buyers Agent - 05:44 PM
Debunking the Myth: You Will Not Save Money By Not Using a Buyers Agent
Over the past couple of weeks, I have seen several blog posts and news reports about home buyers, who seem to think they will save money by not using a buyers agent.  It is a myth and I thought it was time to set the record straight.
The Commission Is Not Dependent on the  Number of Agents Involved.  (Or, Price is Not Determined by Commission.)  Listing Agents reach an agreement with their clients - the Sellers - as to how much commission is to be earned upon … (61 comments)

Consumers Still See Home Ownership as Essential to the American Dream - 12:13 PM
A recent survey reported on RISMedia shows that consumers still see home ownership as essential to the American Dream.  According to the survey, Americans see beyond the housing crisis to the “enduring value of homeownership.”   I agree and have written several posts that support the findings. 
 
Homeownership is about much more than the costs or investment potential of real estate.  And while we have recently seen a decline in the rate of homeownership, almost three-quarters of those surveyed who do not presently own, indicated a goal of one day owning a home.
 
Because of the financial crisis … (28 comments)

Be More Specific, You'll Get Better Results - 08:46 AM

Be more specific when you tell people what you expect of them, and you will see better results.   A very wise woman once told me to talk TO instead of AT my teenage daughter, and it made such a difference. We are all guilty of talking at our clients and assuming they will follow our direction...only to find that they just didn't have the same vision as we did.  
In real estate, telling a seller to clean or to declutter is not specific enough.  It's like telling a 15 year old to clean their room.  If you are a parent you've probably found yourself repeatedly saying "clean … (64 comments)

Now Offer Bribes on Your Website - 01:56 AM
A couple of days ago I wrote about offering bribes to the folks on your prospecting list - to entice them to give you their email addresses so you could drip market to them inexpensively.
I suggested that you could make the offer in person - as when you go in person to visit a FSBO seller. You can also do it over the phone when you call a homeowner with an expired listing, or by mail when you write to folks in your geographic territory.
But don't stop there!
Your website can keep right on gathering those names while … (72 comments)

Opinion from fellow Rainers appreciated.... - 08:48 AM
I am mainly a buyers agent and if I find a great listing, I post it on AR if the MLS says: OK to advertise.
I blogged about a unit of a friend of mine in the Mosaic building in Miami Beach. She is frustrated since it hasn’t sold yet and I wanted to help. The listing agent is not blogging about it, so I did.
I got a comment saying: “If you are the listing agent contact me” and left his email address. I replied: No, but if you are interested in the unit, let me know if you would … (91 comments)

TIPS FOR SELLERS - 11:25 AM

Sellers may want to consider selling their home by remembering their point of view when they were buyers.
Do whatever it takes to bring the house to as good a condition as possible. You know clean,de-clutter,  organize, etc. Make it easier for the buyer to see the beauty of your homes features. Preparing your home for public display doesn't have to be totally expensive either (based on normal conditions of course). Keep in mind buyers are previewing to see what they like about the house so they can make a decision. What is attractive to you (like a pink wall … (51 comments)


Blog posts


10.27% CAP - USA Hotel for Sale - Orlando FL Real Estate - 05:12 PM
230 Key Florida Hotel - 10.27% CAP … (0 comments)

Why Would Anyone Want To Remove Content From Activerain? - 04:20 AM

 
A few emails triggered this post, one of the questions I received is because someone doesn't use activerain anymore, should they delete their content.  I also saw a similar conversation taking place on facebook, I don't quite get it at all? 
You probably have a love/hate relationship with Active rain.  In my case...I do.
I have recently changed cities due to the office being located in Ormond Beach, while I am no longer a REALTOR,
I am a real estate agent who chose a different path.  To refer business and keep my license active and follow my dreams.  At … (44 comments)

Minerva Beach Home - 01:10 PM
Looking for a quiet retreat with clamming, crabbing and walks on the beach. Minerva Beach is a 55+ community that sits on the Hood canal and offers it residents all the ameneties of beach front community. Picturesque waterfront community, Minerva Beach, located just outside of Shelton overlooking beautiful Hood Canal. Over 330 feet of Association beachfront, 180 degree views, boat storage.
Custom 1999 manuf. home includes open living area, sunny breakfast nook, full kitchen, vaulted ceilings, front deck and lots of windows.
Address: 21110 N US 101 #21, Shelton 98584
Price $79,950
Monthly Rent $365
… (0 comments)

Real Estate Investing is still the best game in town - 01:04 PM
 
Real Estate Investing is a smart move.  Here is a great post on Real Estate Investing I want to share with you. 
Click here for a Free Book on Real Estate Investing.
 
Via Kim McMahon (Executive Realty Group):
Real Estate is, believe or not still the best investment around.... even with the ‘crash’. Just take a look at the the statistics from Case Schiller.  The Real Estate Market vs. the Stock Market performance over the ten year period ending January 2011.  Ahh, when a picture is worth a thousand words. Don’t be fooled though there are still a lot of … (2 comments)

Why is the FHA 203K Loan so Misunderstood (Maligned)? - 01:29 PM
 
Buying a Home can be a challenge on a budget.  However, the 203K loan will allow help you with Buying a Home and fixing it up while taking little out of your pocket.
For more information on Buying a Home, View Homes on Line, or get information on Loans go to HomePointRealEstate.com.
 
Via Deborah "Dee Dee" Garvin New American Mortgage (New American Mortgage):
I have written several articles on the FHA 203K loan and continue to believe it is the most under used, misunderstood, and absolutely the most creative finance product available in todays’ real estate market.  
 
… (1 comments)

When it Rains it Pours! Active Rain or none at All! - 04:31 PM
Maybe it is me and my SPAM Filters.  Some days I get not a one Rain Drop - and I have learned to check my SPAM for them.  I may have a drought of 48 hours sometimes.
Then it hits- I will get 3 Rain Drops right in a row and it seems like a flood. 

Well I guess no one can control the weather completely.  I normally don't read them all at once - I save some for a non-Rainy Day!
… (1 comments)

The Best Technocrat in the Election! - 05:14 PM
The Best Technocrat in the Election!
As a Republican I have to tell you I am excited about the up coming primaries.  We got a fantastic field of candidates and potential candidates.  None are perfect and each one appeals to me on a different level.  But for the most part these are great people.  It is like going to a good buffet with a lot of choices and only so much room on the plate.
There are two that concern me. 
Newt Gingrich who is sometimes brilliant then gets stupid real fast (See global warming and position on the Paul Ryan … (5 comments)

Homes For Sale at The Lakes in Discovery Bay! - 06:50 PM
Homes for Sale at The Lakes in Discovery Bay!
The Lakes in Discovery Bay is an exciting new gated community in Discovery Bay California - Contra Costa Counties leading recreational community.
The Lakes in Discovery Bay is called the Lakes because basically it is a community built around two large lakes with a 3rd on the way.  Most of the Homes for Sale in the Lakes are larger executive style homes.
If you are looking for a large Home for Sale at an affordable price in a very upscale community The Lakes is for you.
This chart looks at trends with … (0 comments)

Real Estate and Today's Technology - The QR Code in Action - 12:18 PM
If you know me, and know me well, you know that I think print marketing is basically dead.  I market about 99% online and through efforts that don't include a classified ad in the newspaper or magazine.
One print marketing that I do is a magazine that goes out to my past and current clients, as well as my doctor's and dentist's offices and various friends and people I've met out and about. I even have one going to the Labor and Delivery waiting room at Seton SouthWest Hospital in South Austin where I had my baby.  You never know if … (17 comments)

Southbridge Open House Sunday, June 12th 1-3PM - 244 Hamilton Street - 03:05 PM
Southbridge Open House Sunday, June 12th 1-3PM - 244 Hamilton Street Kathleen Cooper here inviting you to my Southbridge Open House this Sunday, June 12th from 1-3PM!  Join me on Southbridge Open House Day at 244 Hamilton Street - a lovely 3 bedroom, 1.5 bath home featuring a large front to back living room, tons of storage, workshop, basement with family room and bar, large back deck with river views and more!  For more photos and pricing visit our Fan Page.  Hope to see you there!   … (2 comments)

Sinning All You Want To - 05:24 PM
Sinning All You Want To
 
2 Peter 1:4 The Message (MSG)
Don't Put It Off  3-4Everything that goes into a life of pleasing God has been miraculously given to us by getting to know, personally and intimately, the One who invited us to God. The best invitation we ever received! We were also given absolutely terrific promises to pass on to you—your tickets to participation in the life of God after you turned your back on a world corrupted by lust.
Are you sinning all you want to? Or do you have a desire to be holy? I believe that … (3 comments)

Foreclosure Marketing - 09:52 PM
I have been working to get my CFA-Certified Foreclosure Agent desingation through foreclosure.com and The Agent University. Today, I finished the module/class on Foreclosure Marketing. It was very interesting 2 1/2 hour online course. It was much more than just attracting foreclosure buyers, or how to advertise a foreclosure listing, and focused more on the end game of selling more homes, and closing more deals.
Anyway, I passed my exam which was my fifth course and it gives me another two yet to go!
The nice thing about online courses is you can stop them and restart whenever you get interupted … (0 comments)

Pearland TX to Hold Run-off Election for Council Position Three - 10:45 AM
PEARLAND, Texas -- All has not yet been decided for the Pearland City Council following its May election. The city will hold a run-off election June 25 to decide who will take Position Three.After the election on May 14, Susan I. Sherrouse had the most votes for that position with 1,186. The second place candidate, Tammy Dexter, received 891 votes. The two will face off in the run-off election.The run-off election will be held because the city of Pearland requires a candidate to receive more than 50 percent of the votes in order to win the election, said Sonia Webb, deputy … (0 comments)

ASSet Managers - 06:21 AM
Whether you were the listing or selling agent, if you've done any bank owned deals, you've probably dealt with an ASSet Manager.I'm currently representing a couple of buyers who are trying to purchase (different) bank owned houses. The houses are obviously overpriced, sitting on the market for several months. Banks tend to reduce the price every 4-6 weeks as long as there isn't an offer being negotiated and these are due for a reduction!One of my buyers made an offer yesterday, it wasn't "low ball", IMO. The ASSet Manager didn't even counter offer, they just rejected the offer. Come on! We … (2 comments)

6202 Ivymount Rd. Baltimore 21209 Contemporary White Brick Rancher - 03:30 PM
… (12 comments)

Common Questions About Florida Short Sales- Answered - 07:08 AM


Does it matter how much I have in my bank accounts? It is what it is.

If I have money, is it better to transfer or withdraw it? You do not want to hide assets from the lender. It's fraud

I just sold a show car for 41k that is now in my account.  Is this going to hurt me? If you have a substantial amount of money available the lender may ask for some kind of a cash contribution. I just had a seller agree to bring $20,000 to closing. He makes $40,000 a month … (10 comments)

Mount Prospect Real Estate Trends - 10:11 PM
Mount Prospect, IL Real Estate Trends
The pie chart below is showing the percentage of sold homes that were short sale, REO (foreclosed) and regular sale homes. In Mount Prospect, IL  detached single family homes show that 25% of the sales were foreclosures and short sales, while the number of those sales with townhomes and condos is much higher. The national average for the first quarter is 39% for REO's or foreclosures.
 

 
If you are thinking of buying or selling in Mount Prospect, feel free to contact me for any real estate needs you may have. No … (0 comments)

Need to move and concerned about your credit score? - 01:59 PM
It's all over the news.  And it's bad.  Some think the whole housing industry is a mess.  They, whomever they are, are probably right.
"But what about me?" questions the average homeowner in Your Town, USA.  "How can I save some modum of decency in this trouble time?"
Well, there's bad new out there.  If you have to sell for less than what you owe, you have a choice.  No one guaranteed it would be easy, a kind of the lesser of two evils situation for sure.
If you would ask me which I'd pick, out of short sale or foreclosure? My … (0 comments)

The Long Road Home - Part 2 - Fiction by Geri Sonkin - 11:29 AM
Dawn painted a narrow band of pink just beyond the trees, cutting a widening wedge into the dark blue of the night sky.  Myra had been up for hours.  This was the last night she was to spend in this house, the home she loved.  Memories assailed her, creeping into her consciousness unbidden.  If only she could forget. . . Jeff, the laughter, the love, the celebrations, the parade of dogs who came in a predictable succession to fill the hole in her heart left by the passing of the the ones before.  They were all here, amorphous reminders of a … (3 comments)

Selling a House is TEAM work.....the difference between BUY and BYE - 07:45 AM
 We got a call from an agent who said that she had done a market review of a listing she had and told her buyers that she felt a price reduction was in order substantiated by recent sales in the area. She further detailed what she was planning for promotion when the price was reduced. A targeted approach for a house with some unusual features.   The sellers shot back an email with a "list of conditions" including things like where the house should be advertised (local print media rarely used in that market)  They were also demanding that this declaration … (2 comments)

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