delete delete's Blog

This Month in Real Estate!

delete delete (delete) — Wed, 13 Oct 2010 09:17:12 -0700

This Month in Real Estate
October 2010

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Market Update

The housing market continues its slow recovery without the aid of the now expired tax credit. Sales are slower but growing, and prices remain on par with last year’s levels. Interest rates also hit a new historic low, a major factor in helping keep mortgage payments low, which is expected to spur sales.

The economy shone a bit brighter in September. It grew faster during the second quarter than expected, and companies continued to hire. Experts believe there is now less risk of a double-dip recession. Now, the Federal Reserve Board’s challenge is not if the economy will grow but how fast.

Experts anticipate both the economy and the housing market will continue their path on the way to a complete recovery. This march back up provides excellent opportunities: an ample selection of homes, affordable prices, and historically low interest rates.

Home sales began to rebound in August. This increase follows a large drop caused by the expiration of the Federal tax credit in July. Sales are expected to slowly rebound as the market finds its footing without leaning on the government for support. First-time buyers fell from 38% to 31% in August from July. Over the same time period, investors rose from 19% to 21%,

Overall home prices fell slightly in August compared to July, but major markets appear to be bucking trend as the Case-Shiller Index shows an increase of 3.2%.

Distressed properties accounted for a slightly larger proportion of sales in August compared to July. The discount in distressed properties helps explain the slight decline in August prices.

Total inventory came back below 4 million to 3.98 million in August, representing 11.6 months of inventory. While still at a relatively high level, months of inventory dropped by nearly a month in August from the 12.5 month’s supply in July.

Housing remains highly affordable, and prospective home buyers stand to benefit from the lowest mortgage rates in decades, as well as advantageous home prices. The ratio now stands at 14.9%, growing closer to the record of 13.6%.

Source: National Association of Realtors

Interest Rates

Mortgage rates once again set new record lows in early September and remained below 4.4% throughout the month. As economic activity gains momentum, rates will rise to keep inflation at an acceptable level.

Rates as of September 30 .

This Month's Video

Topics For Home Owners, Buyers & Sellers

Bonus For Buyers

For Owner Occupants that Buy Fannie Mae Foreclosures

Like a car dealership at the end of its model year, Fannie Mae is offering special incentives exclusively for owner occupants that purchase property from its sizable inventory of foreclosures, also known as HomePath properties.

Owner occupants that purchase a Fannie Mae HomePath property by December 31 will receive up to 3.5% toward closing costs and a home warranty. These incentives for foreclosures are unheard of – banks typically sell foreclosures “as-is” without incentives, warranties, or repairs. This could help buyers to view a HomePath property more like a traditional sale, not a foreclosure, during their search process.

Owners and investors can purchase HomePath properties for 3% down and no mortgage insurance. For homes that are not in tip-top shape, Fannie Mae also offers the HomePath Renovation financing, which works similarly to FHA’s 203(k) mortgage by allowing the cost of light renovation to be included in the mortgage. Furthermore, owner occupants get a 15-day “first dibs” on HomePath properties through the First Look program.

Fannie Mae is also offering agents an additional $1500 for representing owner occupants who purchase these properties, helping to compensate them for the extra paperwork and other potential obstacles that come along with foreclosure transactions.

Buyers should be sure to take a second look at Fannie Mae’s HomePath properties before settling on “the one.” It could mean not just a great deal but an excellent one.

To see Fannie Mae’s HomePath homes, check out HomePath.com

Options for Investors

Not only is it the perfect time to buy a home, but it’s also an excellent time to purchase an investment property. If you already own and are not interested in moving – or you can’t because of the 3-year occupancy requirement to keep your home buyer tax credit – but still want to take advantage of the market, investing can be a great way to do so.

In the current lending situation, lenders often require investor buyers to have six months reserves of mortgage payments and a 25% down payment. This stipulation keeps many would-be investors out of the market.

Here are some little known tips to help investors purchase, regardless of the tighter lending environment:

Investors can purchase a Fannie Mae HomePath investment for 3% down.
Any investor, not just veterans, can purchase a Veterans Affairs(VA) foreclosure with VA’s Vendee Financing for 5% down.
Investors purchasing a VA foreclosure with Vendee Financing can use 75% of anticipated rent to offset the monthly payment if the investor has experience managing rental properties.

Sources: The Wall Street Journal, Inman News, KW Research

443.406.MOVE

Newsletter Contents

1. Market Update

2. Interest Rates

3. Video

4. Topics for Owners, Buyers & Sellers

Brought to you by KW Research. For additional graphs and details, please see the This Month in Real Estate PowerPoint Report.

The opinions expressed in This Month in Real Estate are intended to supplement opinions on real estate expressed by local and national media, local real estate agents and other expert sources. You should not treat any opinion expressed on This Month in Real Estate as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of opinion. Keller Williams Realty, Inc., does not guarantee and is not responsible for the accuracy or completeness of information, and provides said information without warranties of any kind. All information presented herein is intended and should be used for educational purposes only. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. All investments involve some degree of risk. Keller Williams Realty, Inc., will not be liable for any loss or damage caused by your reliance on information contained in This Month in Real Estate.

SERIOUS about SELLING? Then consider this...

delete delete (delete) — Fri, 01 Oct 2010 08:19:25 -0700

The numbers don't lie!

As of August 31, 2010:

Only 11.1% percent of the available inventory in Baltimore County was under contract.
Just 12.8% in Harford County, and..
A dismal 8.1% in Baltimore City!

If you are considering the sale of your home and are serious about selling, you need to know this. Homes are selling. Which ones? Appropriately priced homes in great condition. In other words - the buyer sees VALUE.

We know that getting top dollar is important to sellers, but if you want to be part of the roughly 10% that will go under contract this month, you cannot afford to "try it" at an above market price. Why? Statistics in our area prove that homes offered at or below the market sell 3 times faster and the seller nets more.

Diagram above from SHIFT, written by Gary Keller.

When homes are overpriced in the beginning, they risk - and often become - "stale" inventory that becomes overlooked. As the days on the market tick by, buyers smell opportunity - opportunity to offer a MUCH lower price! Think about it. You shop for a coat in October, and you pay a fair price. In January, if that same coat is sitting there, would pay what you paid in October? Of course not. You're thinking "the store has got to get rid of this" and prices do get slashed.

You wind up netting less, because you have (1) carried the home longer and have made mortgage, utilty, and tax payments (2) your offers will undoubtedly be lower as you are competing with fresher inventory and (3) you probably will be forced/expected to make concessions, repairs, etc. in order to get the deal done.

Agents don't make the market - we simply study and interpret it, and advise sellers based on current conditions. We are working harder than ever to market your home and present it in it's best possible light. Without appropriate pricing, however, all efforts are wasted.

We are serious about selling your home - are you?

BEL AIR SCHOOLS, CHURCHVILLE LIVING!

delete delete (delete) — Mon, 27 Sep 2010 10:30:36 -0700

BETH INCORVATI | PROPERTY GAINES @ KW EXCELLENCE | (443) 406-6683

219 Goucher Way, Churchville, MD

PROPERTY GAINES, powered by KW Excellence - we provide expert advocacy and representation - with the "extras" you don't expect!

4BR/3+1BA Single Family House

offered at $469,900

Year Built	1982
Sq Footage	4,387
Bedrooms	4
Bathrooms	3 full, 1 partial
Floors	3
Parking	Unspecified
Lot Size	33,409 sqft
HOA/Maint	$14 per month

DESCRIPTION

Welcome to 219 Goucher Way, located in the beautiful and conveniently located community of Priestford Hills. Offering large and lovingly landscaped treed lots and a wonderful pond, play, and picnic area, this neighborhood sends it's children to Churchville Elementary, Southampton Middle School, and C. Milton Wright High. If you live here you are just minutes to I-95, APG, and charming, downtown Havre de Grace. Bel Air is a very short drive, offering many options for shopping, recreation, and more.

Not your "cookie cutter" Colonial, this home offers abundant space and numerous amenities at a fantastic price! The professionally landscaped lot provides year round color with thoughtfully selected shrubs and perennials. The rear yard will be a favorite destination for family and friends - the large Sylvan pool offers a diving board and an easily accessed pool shed. The Gazebo and Trex Deck offer areas for dining and relaxation. An Evergreen tree buffer and wrought iron fence provide safety and privacy.

Your lawn equipment is easily stored in the convenient tractor shed, attached to the side-load, over sized, two car garage. Enter the rear of the home through the mud room, or through the large and bright sun room.

Formal and casual living space is provided for all. Relax in the living room, family room, sun room, or lower level rec room. Enjoy meals in the roomy kitchen, classically trimmed dining room, or the sun room. The tremendous 2 room Master Suite offers over 600 square feet of living space, boasting a see through wood burning fireplace, walk-in and storage closets, soaring ceilings and a comfortable spa bath.

3 additional bedrooms are large with spacious closets.

Looking for In-Law Suite Potential? Here it is! The lower level offers a separate entrance/exit to the garage and the existing den could easily be converted to a kitchen. A living room, bedroom, full bath and closets complete the lower level.

In September 2010, all carpet was replaced; wood laminate was installed in the sun room and wallpaper was removed in the family room. New light fixtures were installed, as was cabinet hardware. The front door, the entire upper level, the lower level bath and much of the main level was painted. A home warranty is provided for peace of mind.

The pool will be professionally cleaned, closed and covered October 7, 2010.

Call us for your personal tour! 443.406.MOVE

see additional photos below

PROPERTY FEATURES

- Central A/C	- Fireplace	- High/Vaulted ceiling
- Walk-in closet	- Hardwood floor	- Tile floor
- Family room	- Living room	- Bonus/Rec room
- Office/Den	- Dining room	- Breakfast nook
- Dishwasher	- Refrigerator	- Stove/Oven
- Microwave	- Attic	- Basement
- Laundry area - inside	- Balcony, Deck, or Patio	- Yard
- Swimming pool

COMMUNITY FEATURES

- Lake

- Playground

OTHER SPECIAL FEATURES

- Tremendous Master Suite

- Lower Level In-Law Suite with Separate Entrance

ADDITIONAL PHOTOS

219 Goucher Way	The Community Lake
A Backyard Oasis	2 Room Master Suite
Dazzling Sun Room	Roomy,Efficient Kitchen

Contact info:

BETH INCORVATI

PROPERTY GAINES @ KW EXCELLENCE

(443) 406-6683

For sale by agent/broker

Equal Opportunity Housing

Posted: Sep 27, 2010, 6:07am PDT

This Month in Real Estate

delete delete (delete) — Sun, 12 Sep 2010 09:22:03 -0700

This Month in Real Estate
September 2010

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Market Update

The housing market was off to a rocky start as the second half of the year began. Much of the volatility, however, was anticipated and attributed to the now-expired tax credit. Despite softened sales this last month, home prices continued to gain - thanks in part to record low jumbo loan rates, which are fueling more interest and activities in the higher end of the market.

Meanwhile, the economy still has a lot of ground to cover before achieving its full, sustainable recovery. Consumers, while remaining on the cautious side, have increased their spending, which is supported by a gradual improvement in income. The stagnant job market continues to be a cause for concern, but overall, financial conditions have improved.

For the first time in fourteen months, home sales fell below year-ago levels. Although the drop exceeded expectations, it is undoubtedly due to the expiration of the tax credit. Lawrence Yun, NAR chief economist, said, “given the rock-bottom mortgage interest rates and historically high housing affordability conditions, the pace of a sales recovery could pick up quickly, provided the economy consistently adds jobs.”

July’s median home price was virtually unchanged. Home values have been stable for the past 18 months due in part to the tax credit. Experts believe that home prices will continue to be stable going forward.

The total number of homes on the market remains stable but the number of months worth of inventory has jumped due to lower home sales and fewer buyers in the market. This represents a great opportunity for buyers who have not yet purchased or who are considering a second home or investment property. Important to note is that experts anticipate stable prices and do not expect this to be an ongoing trend.

Source: National Association of Realtors

Interest Rates

Mortgage rates continued to set new record lows in August, providing real savings in interest and monthly payment for buyers and refinancers. As economic activity picks up, rates will rise to keep inflation in check.

Rates as of September 2.

This Month's Video

Topics For Home Owners, Buyers & Sellers

Financial Reform

What it means for consumers

The Wall Street Reform and Consumer Protection Act was signed into law in late July. Before the pains of the financial crisis were just a thing of the past, Congress passed the biggest financial reform measures since the Great Depression. While much of the bill covers Wall Street measures and regulations, there are several changes consumers should be aware of. The following are the top measures related to financing for consumers:

Mortgages. Lenders must determine if borrowers will be able to meet monthly obligations including mortgage, taxes, insurance, and assessments. Borrowers of adjustable rate mortgages must qualify at the highest rate. Additionally, lenders won’t be able to incentivize mortgage brokers to make higher-rate or riskier loans.
Credit Reports. All consumers will no longer have access to government-mandated free annual credit reports. Consumers who are denied a loan or who are not offered the best interest rate will receive free copies of their credit scores. Credit scores and reports will be available for purchase through a credit bureau or myFICO.com.
Credit and Debit Card Changes. Most notably, merchants may start incentivizing consumers to pay with cash, debit, or check. There may be changes to credit card rewards programs.
Consumer Financial Protection Bureau. This new bureau will regulate consumer loans including mortgages, credit cards, student loans, payday loans, and check-cashing companies. Auto loans and insurance lending will be excluded.

The government’s goal of creating safer and easier to understand lending practices is to benefit the long-term strength of the economy.

For more information, see the following links:

- http://www.myfico.com/crediteducation/articles/financial-services-reform.aspx
- http://www.usatoday.com/money/perfi/basics/2010-06-25-financial-regulations-consumers_N.htm

Local Lenders Rates

Consumers would be wise to do some shopping around for interest rates on mortgages.

Since the financial crisis began, many of the big banks consolidated and merged - Wells Fargo and Wachovia, for example - increasing the “big banks” combined market share. With fewer players in the game, rates don’t need to be as competitive as before the consolidation to get the same amount of business.

Smaller local or regional banks can offer significantly advantageous rates. Of course, each loan situation is different and depends on a variety of factors, but don’t forget due diligence – it could save big bucks in the long run.

Sources: The Wall Street Journal, USA Today, myfico.com

your local real estate experts,

for information about what's going on in our area. Find us on the web at PropertyGaines.com

443.406.MOVE

Newsletter Contents

1. Market Update

2. Interest Rates

3. Video

4. Topics for Owners, Buyers & Sellers

Brought to you by KW Research. For additional graphs and details, please see the This Month in Real Estate PowerPoint Report.

The opinions expressed in This Month in Real Estate are intended to supplement opinions on real estate expressed by local and national media, local real estate agents and other expert sources. You should not treat any opinion expressed on This Month in Real Estate as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of opinion. Keller Williams Realty, Inc., does not guarantee and is not responsible for the accuracy or completeness of information, and provides said information without warranties of any kind. All information presented herein is intended and should be used for educational purposes only. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. All investments involve some degree of risk. Keller Williams Realty, Inc., will not be liable for any loss or damage caused by your reliance on information contained in This Month in Real Estate.

This Month in Real Estate

delete delete (delete) — Tue, 17 Aug 2010 21:39:44 -0700

This Month in Real Estate
August 2010

Brought to you by Dicky Gaines and Beth Incorvati

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Market Update

Housing activity continues to remain above year-ago levels despite some setbacks resulting from the now-expired tax credit. Improved stability in home prices with similar levels of distressed properties seen last year offers a hopeful sign the market is holding its ground. However, the economy still has a considerable way to go to achieve its full recovery.

Consumers are saving more and being picky about how they spend their money. While a higher savings rate means less spending in the near term, this is a positive sign that households are taking control of their finances to build some cushion that can be used to pay down debt and/or support future spending.

Existing home sales marked the twelfth consecutive month of year-over-year increase in June. On a monthly basis, sales activity eased 5.1% from May. The moderation in home sales reflects "understandable swings as buyers responded to the tax credits," according to Lawrence Yun, NAR chief economist. He anticipates such impact to show up in the next two months.

June's median home price increased for the fourth consecutive month. Distressed homes, accounting for 32% of sales last month, continued holding home prices at highly affordable levels for the time being. While distressed sales hovered around the same level as a year ago, the gain in home prices is pointing to a sustained stability in the making.

Interest Rates

Mortgage rates set a new record low in July as consumer confidence softened and unemployment remained elevated. This presents a great opportunity for buyers and investors. Coupled with lowered home prices and a robust rental market, investors are finding their way to cash-flow opportunities. As recovery gains deeper roots, rates will need to rise to keep inflation in check.

Rates as of August 6.

This Month's Video

Topics For Home Owners, Buyers & Sellers

Consumers Beware: New Credit Card Tricks

On May 22, 2009, President Obama signed into law the Credit Card Accountability, Responsibility, and Disclosure (CARD) Act of 2009, marking a turning point for American consumers and ending the days of unfair rate hikes and hidden fees. While the new law offers significant safeguards, consumers still need to be vigilant against new practices designed to outflank the new rules.

Stay as informed as possible, read your statement , report any irregularities immediately, and watch for these tricks.

Shortened Billing Cycle: The CARD Act requires companies to allow a window of at least 21 days from when a statement is mailed and when payment is due. Cardholders are reporting being shortchanged on billing cycle time and then being assessed late-payment fees.
Advice: Watch out for shortened payment dates.
Sunday Due Dates: The CARD Act stipulates if a creditor does not receive or accept payments on weekends or holidays, then the date is extended and late-payment fees shouldn't be triggered. However, some banks say they're open for business even when there's no mail delivery.
Advice: Don't assume you are safe.
Low-Limit Cards: The CARD Act says a card's total annual fees can't exceed 25% of a borrower's credit line. However, some issuers may be evading the fee restrictions by charging an up-front processing fee that doesn't fall under the 25% cap.
Advice: Watch out for processing and other fees.
False Inactive Fees: Issuers will no longer be able to charge inactivity fees or extra charges for people who don't spend a certain amount each year, effective August 22. However, some issuers are charging an annual fee that's waived if cardholders reach a certain spending threshold.
Advice: Watch out for conditional annual fees.
Rebate Offers: Some credit cards offer refunds on finance charges when customers pay on time. However, rebate offers aren't governed by the CARD Act, and such offers can be revoked suddenly and for any reason, leaving cardholders stuck with higher charges.
Advice: Rebates may translate to real savings in finance charges.

Source: The Wall Street Journal

OPEN SUNDAY IN CHAPELGATE, AUGUST 15TH - 12-3PM...JOIN US!

delete delete (delete) — Tue, 10 Aug 2010 08:16:47 -0700

OPEN SUNDAY, AUGUST 15 FROM NOON -3PM! 18 Alderman Court, located in beautiful and conveniently located Chapelgate! This lovely 3 bedroom home with 2 full and 2 half baths has much to offer and is worth a look!

The first impression is a favorable one, as you are met with a full brick front exterior accented by a black wrought iron railing at the steps. A full glass front storm door allows for natural light to enter the main level. Access to the home may also be gained through the single car garage, which offers an automatic opener and additional storage.Once inside, you'll immediately notice the gleaming hardwood floors found throughout the main level. The updated kitchen boasts beautiful granite counters and ample table space for informal dining. A pass through window allows a view into the formal dining room, featuring classic molding,trim, and a brass chandelier. As you step down into the living room, you'll be impressed not only by the size of this space but also by the room's focal point - the cozy woodburning fireplace. A traditional mantle and spot lights accentuate this feature, which will certainly provide ambiance to the owners and to guests. Easy access to the sunny deck is gained via the full size sliding door.

The bedroom level is sure to please as well, offering spacious rooms, ample closet space, neutral walls and carpet. The master suite features soaring ceilings and a large bath with a separate shower and jetted tub.The lower level provides a casual place to relax or work, a laundry and utility room, a second half bath, and additional storage. Could this be your new home? Join us Sunday, or call us for your personal tour. Don't forget to visit our website - www.PropertyGaines.com - to learn more about our team and how we work!

This event will be hosted by Dicky Gaines. He may be reached by phone at 410.340.8402 or you may send an email to dgaines@kw.com

See more photos!

www.AldermanCt.com

A "POWER HOUSE" Listing from Property Gaines!

delete delete (delete) — Thu, 05 Aug 2010 09:31:53 -0700

Beautiful, peaceful, and conveniently located, Towson Estates has been home to the fortunate few for three generations. Offering mature trees, unique design and solid construction, this neighborhood may very well be the area's best kept secret! Your favorable first impression will last - the exterior only hints at what you'll discover as you tour this lovely home.

The traditional floor plan is enhanced by two lovely bonus rooms on each side. Both offering built-in bookcases and abundant light, they lend themselves to a multitude of uses. Library, office, playroom, breakfast room? You decide! Stunning hardwoods grace the main and bedroom levels, as does warm yet neutral paint.

Generous room sizes and ample closet space, classic trim and moldings. The formal dining room and large deck are perfect for entertaining; the detached garage provides secure parking and additional storage. If you want charm, a little history, and great "bones", schedule your showing today. This delightful home is truly special! Subject to third party approval.

Offered at $349,900 - Call Beth or Dicky at 410.340.8402 or visit www.822OldJoppaRoad.com for more information!

MLS NUMBER BC7406210

Equal Housing Opportunity

CHECK THIS OUT- A GREAT IDEA!!!

delete delete (delete) — Wed, 26 Mar 2008 09:52:29 -0700

Want to wow your clients/prospects? Here's an out of the box idea that will get them talking!

I wrote about this in the beginning of the year...I had ordered these from Lowes but the site had discontinued them. However if you visit www.cardways.com, you can order personalized gift cards ( I used my business card head shot, but try your logo - build that brand!!!) for any number of popular stores.

They are great for thank you gifts, open house drawings, closings...

Mine are going out today, as a "Spring Project Starter". They were a hit at the holidays and the response was tremendous. Buy 'em in bulk at $10 a piece and listen to the phone rrrrrrrring!

Have a great day!

Beth

www.BetterCallBeth.com

"THE AGENTS WILL NEVER USE IT!" - A Walk Down Memory Lane

delete delete (delete) — Sat, 19 Jan 2008 07:56:32 -0800

I was so proud when, just out of college in the 80's, I was hired by a large copier company as a sales person. I was the only woman on the team, and I was hired specifically to sell this new piece of equipment called a facsimile machine.

Pretty funny when I look back on it - first I was required to wear a skirt or dress (!)- and these early machines cost over $3000 and had thermal rolls of paper! I would go into the offices to do demonstrations and people would gather around in total silence until that piece of paper that said "TEST" came over and then "ooooh, aaaaah, wow!" would fill the room.

Anyway, we finally landed an appointment with the largest real estate company in the area. They had 15 offices at the time. I pitched the obvious benefits - agent convenience and happiness = retention, cutting edge technology = growth, etc. but this purchase did represent a huge investment.

At the end of the day, the contract was signed. But I will never forget the president of the company saying:

"I need to have my head examined. THE AGENTS WILL NEVER USE IT!"

Well, of course, they did - and fax machines changed the real estate industry!

Today, when I hear an agent say "it's always been done that way" I remember those words and I'm reminded that our industry is an ever-evolving one - and not just from a technology standpont. We owe it to ourselves and our clients to remain open to learning and developing new skills and new ways of doing things. Everyone benefits!

All the Best ~

Beth

HOW I MADE $80,000 IN THREE HOURS! or Why You Should Re-think Your Feelings About Open Houses...

delete delete (delete) — Tue, 08 Jan 2008 16:26:04 -0800

Please read this post with an open mind. I know there are two firmly divided camps regarding open houses and for those of you who think they are a waste of time, may I offer another perspective?

A little background first:

After spending nearly two years as a licensed assistant, it was time for me to take the leap and go out on my own. A new year (2004) was upon us, my faith had kicked in, and I knew it was now or never. Leaving my mentor was tough - she is a wonderful woman and an outstanding agent, but I needed to grow. She wished me well, and I am forever grateful to her. Tears and hugs, and off I went. Excited. Exhilirated. Scared to death!

I woke up the next day thinking "oh my gosh, what do I do now?" As a single mom with two children to consider, panic quickly set in. So I grabbed the phone, a cup of coffee and the local newspaper and started looking for FSBOs. Lucky for me, there were 9! I called each one. Of those I reached (5) I explained I was an agent, and told them that I would love to show their home when I had the right buyer. May I preview your home? Three agreed, and off I went!

Fast forward two weeks, and two - yes, TWO! - of these FSBOs called and said "you know, we're tired of this. We'd like to talk to you about listing our home." Well I was over the moon!!! And can I tell ya what I was so excited about? The opportunity to hold an open house! You see, the agent I had worked with had one policy when it came to them: NO. And I was convinced this presented a wonderful opportunity. So I listed both homes, and scheduled the first open.

I enlisted a loan officer to assist me. With chili in the crock pot, football on the TV, and plenty of directionals, we had a fantastic turn-out! The atmosphere was fun and festive, and I was genuinely excited to be hosting these guests. People hung around to eat and watch the game. I mingled and connected, filled sippy cups and kept moving.

So how did I make $80,000?

That day, my first open house, I CONNECTED with three open house guests - a young married couple, and a single mom with kids, like me. They didn't buy that home, but they did hire me to sell their homes and to act as their buyers agent for their next purchase. Four transactions right there! And since 2004, they have, between the 2 of them, sent me referrals resulting in 6 more transactions. And already the people they have referred have referred! Amazing!

I'm convinced that attitude is everything. I have simply come to expect that I will earn a client when I host an open, and 80% of the time, I do! I commit to having fun, and showcasing the home in such a way that visitors find the experience memorable.

Okay, so I didn't earn the 80K in 3 hours...but it started there! If it hadn't been for that cold football Sunday, my solo career might have taken off in a different direction, and I wouldn't have served such wonderful people!

I did it, so can you!

All the best ~

Beth

GREAT IDEA #1

delete delete (delete) — Thu, 03 Jan 2008 09:06:50 -0800

This morning I'd like to share with you one really fabulous idea that will turn heads, get you plenty of free press, and make you feel REALLY good! If you're not willing to roll up your sleeves and step outside your comfort zone, stop reading now. But if you are, and you are ready to roll into 2008 in a brand new way, then stay with me!

Here's the story...I had just listed a 120 year old Victorian sitting on 10 acres in a very rural part of the county. Niche product, not much drive-by. And to top it all off, it was vacant! How in the world could I create some great buzz and get lots of people through the door?

So, I'm in the shower, which is the only place I can get any peace and quiet, and the idea hit me like a ton of bricks! I was so excited I couldn't even dry my hair!

THE HARFORD HOLIDAY DECORATOR SHOW HOUSE

Okay, so here's what I did...

I called 10 of my service providers - contractors, lenders, attorneys, etc., and asked them to sponsor a room. They each agreed to contribute $350.
I then called 10 interior stylists, decorators and stagers and asked each of them if they would transform the room, using the $350 provided by the sponsors.
The sponsors and decorators would each receive advertising in the booklet I produced for the event. Decorators were also encouraged to display their marketing materials within their space, and could offer for sale the furnishings they brought in. Names of both sponsors and decorators were prominently featured on a large poster (set on an easel) in the formal dining room.
The event consisted of a long weekend open house, where visitors payed a small fee to tour the home. In exchange for their donation, they received a $10 discount coupon from the neighboring Christmas tree farm! All proceeds were donated to Habitat for Humanity.
Saturday evening was reserved for a special wine tasting. Vendors provided food and wine at cost, and all proceeds, again, went to Habitat. Live music really added to the atmosphere!
Raffle tickets were also sold for each of the decorated ten trees...winners could either take the trees following the event or could donate it to a needy family.
Naturally, information about the sale of the home was featured throughout.
Realtors, service providers and friends assisted with the clean-up after...nothing for the sellers to do but come to the party and enjoy!

WHAT A WIN-WIN!!!

Over 250 people viewed the home over the course of the event. The sellers were delighted!
We received free advertising - the event was featured in four newspapers, including the Baltimore Sun
The charity not only received money, but also the opportunity to educate the community further about the lack of affordable housing in our area.
The sponsors and decorators picked up business, as they all attended the wine tasting and "worked the room"
I was complimented - and remembered for "thinking outside the box"!

YOU CAN DO SOMETHING SIMILAR!

Of course, the holidays are a wonderful time of year to do something like this, but I'm convinced that it could be successful in any season. All you need is a special property, some willing participants, and a desire to receive wonderful exposure for your designated charity, your listing, and yourself.

I hope this has inspired you somehow, someway! And I'd love to hear what YOU have done that has been different, yet effective!

All the best ~

Beth

Just Who Do You Think You Are?

delete delete (delete) — Wed, 02 Jan 2008 11:51:04 -0800

Happy New Year, everyone! Hope you all are excited about what I'm sure will be an awesome 2008!

This entry may be met by a "DUH!" by some of you more seasoned folks out there, but any thing you can add would be greatly appreciated. Let's make today the day we extend ourselves to others and share a little about what we know!

I have been fortunate enough to have trained, coached and mentored dozens of agents and I gotta tell you that I am often stunned by the mindset that the majority of the "newbies" possess. Yeah, they get the part about commission, they get the part about climbing that ladder, but they miss that one key piece that can be absolutely EMPOWERING. And once you wrap your head around it you will be more confident, more capable of asking for those hard earned commissions without apology/negotiation, and more willing, I think, to get out there and make it happen.

Just who do you think you are? Please, please don't say "I'm an agent." And don't say "I work for XYC Real Estate Company", either. Try this on for size:

I AM A REAL ESTATE PRACTITIONER.

That's right - you OWN your own practice! Just like doctors, attorneys, accountants - you are the owner of a business and a designation that requires you to remain educated, ethical, and committed to a standard of practice. If you start thinking of yourself in this way, I guarantee your whole demeanor will change in front of potential clients and you'll find you'll earn that listing or buyer without having to compete.

Consider this:

Doctors, lawyers and accountants don't negotiate their fees...and when's the last time you asked them to? Why, because we are conditioned in this society to hold them in high regard. Because they are educated (so are we), they have lots of expenses (so do we) and they are an expert in their field (yeah, and SO ARE WE!!!)
Practitioners grow their businesses through relationships...and so should you. When's the last time you saw your accountant on a billboard? Do you think a physician is paying for Internet leads? They're not conditioned that way...they are taught out of the gate to grow their practices through referral and service.
Practitioners learn the "business of doing business" - and you can't afford not to. It's a shame, really - most RE licensing courses teach you how to pass the exam, most brokers show you some basic farming techniques, but you're on your own in terms of establishing your practice. You MUST devote time to a business plan. You MUST spend time with an accountant and an attorney to understand your liabilities and responsibilities and you MUST consider this to be an integral part of being in this industry.
Practitioners specialize - and when they do, they are met with a higher perceived value by the consumer. I don't know about you, but I don't want to see the " I can fix it all" doc or the general practice attorney. I want that professional who knows more about one area than anything - and anyone! -else. There comes a point in time when med students are asked "what are you going to specialize in" and if you haven't done it yet, you need to ask yourself the same question! Why? Because your perceived value will be higher. You can free up time by dedicating yourself to a niche you enjoy. You can market yourself more effectively...need I go on?
Practitioners know they are building something of value, that can eventually be sold. My dentist recently moved so that he could fulfill his purpose - to work in an area where he would care for those who are indigent and underprivileged. How did he do it? He sold his established practice! What a win-win! The new dentist came in, maintained the same standards and commitment, managed the same database, and is busy and happy. You can do the same thing! If you sow those seeds, build that practice over time, you too can reap big rewards down the road.
It's called a "practice" for a reason - because it's not a destination you will reach; you keep working and learning and getting better at what you do. What will you do this week? This month? This year? Are you committed to serving your clients and community better by engaging in the practice of real estate?

I hope these points make some sense to you. Your success in this remarkable industry is yours for the asking, and I wish you happiness while you attain it!

All the best ~

Beth

I'm soooo glad I did this!

delete delete (delete) — Mon, 24 Dec 2007 17:31:48 -0800

This year I sent my clients Lowe's gift cards for the holidays. What's the big deal? Well, did you know you can personalize the gift cards with any photo? Mine went out with my business card photo on it along with a special message, and let me tell you - the phones have been ringing!!!! The clients love 'em! I just ordered more - to keep on hand for closing gifts, quick thank you gifts, silent auction donations, etc. A GREAT marketing tool that your clients won't soon forget. I'd love to hear what you have done that has been well received - thanks for sharing!

delete delete's Blog

This Month in Real Estate!

Source: National Association of Realtors

Rates as of September 30 .

Bonus For Buyers

For Owner Occupants that Buy Fannie Mae Foreclosures

Options for Investors

Sources: The Wall Street Journal, Inman News, KW Research

Brought to you by KW Research. For additional graphs and details, please see the This Month in Real Estate PowerPoint Report.

SERIOUS about SELLING? Then consider this...

BEL AIR SCHOOLS, CHURCHVILLE LIVING!

This Month in Real Estate

Source: National Association of Realtors

Rates as of September 2.

Financial Reform

http://www.myfico.com/crediteducation/articles/financial-services-reform.aspx

http://www.usatoday.com/money/perfi/basics/2010-06-25-financial-regulations-consumers_N.htm

Local Lenders Rates

Sources: The Wall Street Journal, USA Today, myfico.com

Brought to you by KW Research. For additional graphs and details, please see the This Month in Real Estate PowerPoint Report.

This Month in Real Estate

Rates as of August 6.

OPEN SUNDAY IN CHAPELGATE, AUGUST 15TH - 12-3PM...JOIN US!

A "POWER HOUSE" Listing from Property Gaines!

CHECK THIS OUT- A GREAT IDEA!!!

"THE AGENTS WILL NEVER USE IT!" - A Walk Down Memory Lane

HOW I MADE $80,000 IN THREE HOURS! or Why You Should Re-think Your Feelings About Open Houses...

GREAT IDEA #1

Just Who Do You Think You Are?

I'm soooo glad I did this!