Bradbury Team's Blog

Did Mortgage Brokers Cause The Economic Collapse?

Sat, 21 Nov 2009 19:46:53 -0600

Via Nathan Giguere (Tutas Towne Realty, Inc.):

I don’t know, but wait until you hear this. A couple days ago I called a mortgage broker for my buyer to ask a question about a USDA loan. I just had a quick and easy question for the guy.

I asked him why the buyer qualified for a $120,000 USDA vs $80,000 FHA. And then BAM!!!! He hit me with a brick! "We need to get him in as expensive a house as we can, that way we get paid more…right? Hahaha". HOLY CRACK JACK, IS THIS GUY ON DRUGS? Smack me and I wouldn't have noticed. Is this guy serious?

I know mortgage brokers in general didn't cause our current situation. But I'm sure guys like this (Mister Snake Oil Salesman) didn’t help any. Unbelievable! With consumers already losing trust, how are we supposed to help them get back what they’ve lost with these kinds of people in our industry? What do you all think?

Image Courtesy of Yomanimus at Flickr

Be careful of the bridges you burn

Fri, 20 Nov 2009 13:32:48 -0600

Via Kelley Weimer Preble County Ohio Real Estate & beyond (Country Mile Realtors):

Maybe this wasn't something your parents ever said to you when you were little, but it was an often-used phrase in my home..."don't burn your bridges".

It took me a while to get the hang of this. Its especially hard sometimes. That job you've been wanting to quit for year; when the opportunity finally comes up, you just wanna run out of there screaming "kiss my heinie"! That mean boss you took crap off of for who knows how long. Didn't it feel GOOD to finally give him a piece of your mind?

What about all the clients out there who have wronged you, whether it really has any truth to it or just a feeling in your mind? Its hard sometimes to bite your tongue. REALLY HARD.

About a year ago, I had some clients who were referred to me through my husband. They decided they wanted something in a town about 45 minutes away. This was fine with me. I connected them with one of my best lenders, and off we went...on the house hunting mission. We looked for a few weeks steadily and even found a few contenders.

Then...things got a little too quiet. I gave it a few days, thinking maybe there was some emergency or something that was holding them up. About the time I was ready to call, they came to my office to see me. "Great news" they tell me. "We found a house and are buying it"! Say WHAT???

Turns out they took a drive one afternoon, passed a house they really liked the looks of, a lo and behold, the listing agent just happened to be there. They went in for a look, and ended up writing a contract.

Well, I was pretty hurt. I asked them why they used this other agent. Had I done something wrong? They assured me I hadn't. It was just "one of those things". Yeah...one of those things where you put in weeks of work and don't get a paycheck for it. I'm all too familiar with "those things".

I decided to just let it be. I wished them the best of luck, went to the bathroom and had a good cry, and went on with my life and my business.

Enter last week; My husband tells me that this same couple has decided what a mistake it was to buy that home, and they want to sell. Not only that house, but another they own as an investment. And they really would like me to be their agent!

Case in point for not burning bridges. I honestly don't think they realized the mistake they made, or how I took it personally. They were just excited buyers who found a good deal and jumped on it. And boy am I glad I didn't cuss them out, tell them to kiss my heinie, or any number of other things I could have done or said in my moment of anger.

Its VERY hard at times to be the bigger person. To take the high road. And to not take it personally. But I encourage you to try it as often as you can. The results may not be tangible. They might never even be seen. But building bridges, and maintaining them all, IS part of our business. At least it should be.

**Picture provided by Microsoft clip art. Copyright © 2007 Microsoft Corporation and/or its suppliers.**

Thanks for reading!

Kelley Weimer

a house "SOLD" name!

Kelley Weimer is a full-time Real Estate professional serving the residential and commercial needs of Southwest Ohio, including Preble County, Montgomery County, Butler and Darke Counties. She serves the needs of today's home buyers and home sellers, working for one of the area's top real estate brokerages, Country Mile Realtors. Making real estate dreams come true since 2002, Kelley prides herself on honest, friendly service; staying on the edge of technology yet always keeping the focus on good ole' communication. For your real estate dreams, please contact Kelley today!

www.preblecountysold.com

Be careful of the bridges you burn

Fri, 20 Nov 2009 13:32:15 -0600

Via Kelley Weimer Preble County Ohio Real Estate & beyond (Country Mile Realtors):

Maybe this wasn't something your parents ever said to you when you were little, but it was an often-used phrase in my home..."don't burn your bridges".

It took me a while to get the hang of this. Its especially hard sometimes. That job you've been wanting to quit for year; when the opportunity finally comes up, you just wanna run out of there screaming "kiss my heinie"! That mean boss you took crap off of for who knows how long. Didn't it feel GOOD to finally give him a piece of your mind?

What about all the clients out there who have wronged you, whether it really has any truth to it or just a feeling in your mind? Its hard sometimes to bite your tongue. REALLY HARD.

About a year ago, I had some clients who were referred to me through my husband. They decided they wanted something in a town about 45 minutes away. This was fine with me. I connected them with one of my best lenders, and off we went...on the house hunting mission. We looked for a few weeks steadily and even found a few contenders.

Then...things got a little too quiet. I gave it a few days, thinking maybe there was some emergency or something that was holding them up. About the time I was ready to call, they came to my office to see me. "Great news" they tell me. "We found a house and are buying it"! Say WHAT???

Turns out they took a drive one afternoon, passed a house they really liked the looks of, a lo and behold, the listing agent just happened to be there. They went in for a look, and ended up writing a contract.

Well, I was pretty hurt. I asked them why they used this other agent. Had I done something wrong? They assured me I hadn't. It was just "one of those things". Yeah...one of those things where you put in weeks of work and don't get a paycheck for it. I'm all too familiar with "those things".

I decided to just let it be. I wished them the best of luck, went to the bathroom and had a good cry, and went on with my life and my business.

Enter last week; My husband tells me that this same couple has decided what a mistake it was to buy that home, and they want to sell. Not only that house, but another they own as an investment. And they really would like me to be their agent!

Case in point for not burning bridges. I honestly don't think they realized the mistake they made, or how I took it personally. They were just excited buyers who found a good deal and jumped on it. And boy am I glad I didn't cuss them out, tell them to kiss my heinie, or any number of other things I could have done or said in my moment of anger.

Its VERY hard at times to be the bigger person. To take the high road. And to not take it personally. But I encourage you to try it as often as you can. The results may not be tangible. They might never even be seen. But building bridges, and maintaining them all, IS part of our business. At least it should be.

**Picture provided by Microsoft clip art. Copyright © 2007 Microsoft Corporation and/or its suppliers.**

Thanks for reading!

Kelley Weimer

a house "SOLD" name!

Kelley Weimer is a full-time Real Estate professional serving the residential and commercial needs of Southwest Ohio, including Preble County, Montgomery County, Butler and Darke Counties. She serves the needs of today's home buyers and home sellers, working for one of the area's top real estate brokerages, Country Mile Realtors. Making real estate dreams come true since 2002, Kelley prides herself on honest, friendly service; staying on the edge of technology yet always keeping the focus on good ole' communication. For your real estate dreams, please contact Kelley today!

www.preblecountysold.com

19 Winchester Dr Quakertown PA - Priced to Sell!

Thu, 19 Nov 2009 14:18:06 -0600

The Bradbury Team; Don Bradbury,Marilyn Woldow, Jodi Cheatle, & Linda Hoy | Coldwell Banker Heritage 1448 W Broad St Quakertown PA 18951 | 215-536-6777 x 329

19 Winchester Drive, Quakertown, PA

Quakertown Colonial, Well Maintained, Excellent Condition, Priced
to sell quickly!

3BR/2.5BA Single Family House

offered at $244,000

Year Built	1988
Sq Footage	1,620
Bedrooms	3
Bathrooms	2 full, 1 partial
Floors	2
Parking	2 Car garage
Lot Size	11,761 sqft
HOA/Maint	$0 per month

DESCRIPTION

This Quakertown Boro Colonial is conveniently located in a quiet neighborhood, but still close to local shopping, schools, and transportation routes; Former Builder’s Model Home is in immaculate condition; Everything is so nice and clean and well maintained! Nice size eat-in kitchen with beautiful cabinets and pantry; Dining Room, Living Room, Sliding glass doors from dinette area lead to deck; 1st floor powder room; 3 large bedrooms upstairs; Master bedroom has full bathroom and linen closet; All natural trim throughout the house; Full heated unfinished basement with outside entrance and washer and dryer, sink hookup; Two car attached garage with inside access; Please call for a showing appointment today! Owner needs to find suitable housing.

see additional photos below

PROPERTY FEATURES

- Central A/C	- Central heat	- Hardwood floor
- Tile floor	- Family room	- Living room
- Dining room	- Breakfast nook	- Dishwasher
- Stove/Oven	- Attic	- Basement
- Laundry area - inside	- Yard

OTHER SPECIAL FEATURES

- ElectricHeat, HotAirHeat, ElectricHtWt, CentralAir, PublicWater, PublicSewer, 200-300AmpEl

- 2-CarGarage, Att/BuiltInG, 2-CarParking

- Sidewalks, StreetLights, Alu/SteelExt, ConcreteFoun, IrregularLot, PitchedRoof, ShingleRoof, Deck

- FullBasement, UnfinishBsmt

- NoFireplace, W/WCarpeting, Vinyl/LinFl, FulBathMnBed,

- WalkInClstMB, Foyer/VestEn, NoModifs/Unk, BsmtLaundry

- EatInKitchen, ElecCooking, KitPantry, SelfClnOven, Disposal

- Finance: ConventnalFi, FHA, VA Cond: Average+

ADDITIONAL PHOTOS

Photo 1	Photo 2
Photo 3	Photo 4
Photo 5	Photo 6

Contact info:

The Bradbury Team; Don Bradbury,Marilyn Woldow, Jodi Cheatle, & Linda Hoy

Coldwell Banker Heritage 1448 W Broad St Quakertown PA 18951

215-536-6777 x 329

For sale by agent/broker

Equal Opportunity Housing

Posted: Nov 11, 2009, 7:57am PST

eSignatures: Your most asked questions - Answered!

Thu, 19 Nov 2009 14:14:14 -0600

Via Suzanne Alberti (DocuSign):

As a representative for DocuSign I get a lot of questions about electronic signatures and how they can help improve the bottom line for real estate professional. I've re-posted this blog post by An Bui, DocuSign's Social Media Manager, which addresses the most asked questions that will help you to understand the advantages of using a service like DocuSign for your business.

1. What does DocuSign Electronic Signature do for me?

DocuSign enables you to electronically send, sign, and manage your real estate and broker forms with confidence. You can use your current form creation process and with DocuSign's ability to mark up the document with yellow stick-e-tabs, you'll never miss another signature or initial again.

DocuSign also notifies your clients via email that they have documents to sign and will walk them step-by-step through the process of adopting an electronic signature and signing the document. You can also set up DocuSign to copy the other agent in the transaction so that once your clients have all signed, the other agent will receive a completed signed form(s) automatically! And you'll also receive an email notification when your signers have all signed.

Using DocuSign's electronic signature process with your real estate forms makes it easy and convenient for both you and your customers, giving you the competitive advantage buyers are talking about.

Try DocuSign FREE for 30-Days!

2. How does the e-signature get into the DocuSign system?

First, the sender creates an envelope and uploads the documents for signature. The sender addresses the envelope with the signer's name and email address.

Then DocuSign sends the signer an email notifying them they have documents to be signed. The signer clicks on the "Review" button and a secure link will take them into DocuSign to start the signing process.

The process includes adopting an electronic signature and agreeing to sign electronically. DocuSign will automatically take your client's to the first document and prompt the signer to hit the "Start" button. That's it! It is really very fast and easy.

Try DocuSign FREE for 30-Days!

3. Won't using electronic signature hurt my ability to develop relationships with my clients?

We understand that as real estate professionals, relationships and relationship building are important to your bottom line.

For example, if you and your client are in the offer process, you may also end up counter-offering as well. What if your client doesn't have time to meet you every time new documents need to be signed? What if they're out of town on business?

With DocuSign, the signing process can happen remotely if that's what the client needs. DocuSign also offers in-person signing capabilities that enable you to leverage the power of electronic signature, an electronic audit trail, and provide the in-person interaction as well.

Try DocuSign FREE for 30-Days!

4. Do I need any special equipment?

No. DocuSign is a web-based application which means you only need a computer with high-speed internet access and an email address. This means you can access the DocuSign system from your home, office, or local coffee shop with wifi. Anywhere that you can get an internet connection.

You can DocuSign from your desktop PC, Mac, Windows laptop, tablet - whatever computer you currently have, as long as you can get email, internet and browse the web!

This fall, DocuSign also launched ‘Designed for Mobile" which provides the ability to sign documents from your data phone, such as Apple iPhone, BlackBerry, Windows Mobile or Google Android device to make it faster and easier for customers to complete transactions while on the go.

Try DocuSign FREE for 30-Days!

5. Can I get more information about the legality of electronic signatures?
Absolutely - take a look at the legal section of the DocuSign blog, where Ken Moyle, DocuSign's Chief Legal Officer and the Public Policy Chair of ESRA, shares his thoughts and writings about electronic signatures, electronic signature acceptance, authentication and evidentiary considerations.

So are you ready to give DocuSign Electronic Signature Service a try? You can try it FREE for 30-Days with our 30-day money back guarantee. Just try DocuSign free for 30-days if you don't like it, just cancel and you will not be billed. What are you waiting for?

Open House Sunday Nov 22 1503 Concord Court Quakertown PA

Wed, 18 Nov 2009 21:14:15 -0600

The Bradbury Team; Don Bradbury,Marilyn Woldow, Jodi Cheatle, Linda Hoy, Janice Kutt, Jen Lorenz | Coldwell Banker Heritage 1448 W Broad St Quakertown PA 18951 | 215-536-6777 x 329

1503 Concord Court, Quakertown, PA

Quakertown First Floor Condo ~ Great Location!

2BR/2BA Condo

offered at $169,900

Year Built	1995
Sq Footage	1,226
Bedrooms	2
Bathrooms	2 full, 0 partial
Floors	1
Parking	2 Uncovered spaces
Lot Size	Unspecified
HOA/Maint	$145 per month

DESCRIPTION

Most desireable first floor unit with 2 bedrooms and 2 bathrooms with fireplace and den. Seller has put in a new upgraded a/c unit for high efficiency. This unit has a open floor plan. This unit will not last.

see additional photos below

PROPERTY FEATURES

- Central A/C	- Central heat	- Fireplace
- High/Vaulted ceiling	- Walk-in closet	- Hardwood floor
- Tile floor	- Living room	- Dining room
- Dishwasher	- Stove/Oven	- Microwave

OTHER SPECIAL FEATURES

- 309 To West Trumbauersville to Right on Willow Stream, Left , Concord.

- ElectricHeat, HotAirHeat, ElectricHtWt, CentralAir, PublicWater, PublicSewer, 100-150AmpEl

- Parking: NoGarage, 2-CarParking

- Sidewalks, StreetLights, VinylExt, BltOnSlabFou, LevelLot, PitchedRoof, Patio, NoPool Bsmt: NoBase

- CableTVWired, FulBathMnBed, LR/GREntr, Den/Study/Li, Util/MudRoom, NoModifs/Unk, MainFlrLndry

- FullKit-NoEI, ElecCooking, KitDoubleSin, KitBuiltInRa, SelfClnOven, BuiltInDishW, Disposal

- Assn Inc: ComAreaMaint, ExtBldgMaint, LawnMaint, SnowRemoval, TrashRemoval

- Finance: ConventnalFi, FHA, VA

ADDITIONAL PHOTOS

Photo 1	Photo 2
Photo 3	Photo 4
Photo 5	Photo 6

Contact info:

The Bradbury Team; Don Bradbury,Marilyn Woldow, Jodi Cheatle, Linda Hoy, Janice Kutt, Jen Lorenz

Coldwell Banker Heritage 1448 W Broad St Quakertown PA 18951

215-536-6777 x 329

For sale by agent/broker

Equal Opportunity Housing

Posted: Oct 21, 2009, 3:39pm PDT

Perfecting Your Inventory Knowledge in Your Neighborhoods

Wed, 18 Nov 2009 21:10:25 -0600

Via Loreena Yeo - Broker|Realtor(R) of www.Frisco-TX-Homes.com (214) 783-2210 (3:16 team REALTY):

This is not a rant, but rather a lesson learnt, obviously very much needed to share with all agents - especially when you plan to represent your clients in a specific neighborhood, be it if you are a listing or a buyer's agent.

Over the weekend, I showed a property in a Frisco TX neighborhood. The agent called for a feedback Monday afternoon. There's 2 things I learnt from the conversation:

(1) The buyer is ALWAYS right.

The listing agent went on and on the phone the whole time explaining to me what are the upgrades in the house. No question about that. However, in a home, whether it is a $1,000 custom made chandelier, or a $100 light bought from Home Depot, Buyers still expect lighting fixtures around the house.

The kitchen is installed with granite counter tops, stainless steel appliances and just tastefully done. But would you expect to sell the house without a proper kitchen? The conversation with this particular listing agent sounded as if these were "bonuses" to the house that you otherwise would not expect.

(2) Listing Agents must know the inventory in the neighborhood.

This neighborhood has high foreclosure inventory. Builders decided NOT to build in this neighborhood temporarily. The foreclosures are not rare-occasions. The only ones that are selling are foreclosures.

I explained that we acknowledged that this home is offered by a regular seller and he would never want to see an offer coming in with a foreclosure pricing. (Note that in presenting offers, Buyers seem to go much lower just to see how low the banks will go).

The question that appalled me in my 15 minute conversation was: How many foreclosures are there in the neighborhood?

I couldn't believed this question and my filters didn't work that afternoon. This is what I blurted out of my mouth:

"You are the listing agent for this house in this community. You should know your neighborhood invntory. I wont tell you how many foreclosure inventories are there because you can find it out on your own. I'm just going to say that there are a few too many".

Well, those that know me know that I'm not a rude, or straight in your face person. But I could sense some anger/ resentment/ disappointment in my tone because I was clearly upset that this agent knows nothing about selling homes in this neighborhood. I looked up his phone number. Sure enough, it was listed with a different area code, his office, some 45 minutes away.

What can I say? This home has been sitting on the market for over 150 days. It is clearly overpriced just with the market conditions and the listing agent is trying to get offers from any showing agents with no very good persuasion skills.

So, here's how you can become the best agent for your sellers:

(1) Set yourself up on property alerts for that neighborhood.

(2) Know every movement in the neighborhood.

(3) Make sure you stay on top of things by evaluating/ reviewing pricing at least every 2 weeks.

Until then, you havent deserve to earn your paycheck from your sellers. Be either very good or don't play. Don't ever let your Sellers know more or sooner than you do in his/ her neighborhood.

*********************************************************************************************

All contents are original. Consider subscribing to my blog for more real estate commentaries.

Subscribe via Email if you are not an Active Rain member here.

Contact:

Loreena Yeo
Realtor®/ Broker of 3:16 team REALTY
(214) 783-2210
loreena@loreenayeo.com

Super-serving Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper, Celina, Richardson, Dallas M-Streets, Dallas White Rock Lake area communities and other surrounding areas.

Copyright © 2009 by Loreena Yeo (3:16 team REALTY)
Perfecting Your Inventory Knowledge in Your Neighborhoods

Housing Market Predictions: We've Heard Them All, Except the One That Matters ... Yours!

Wed, 18 Nov 2009 21:08:44 -0600

Via Paul Slaybaugh, Scottsdale AZ Real Estate (Realty Executives):

Housing will not fully recover until 2012. That is when the glut of backlogged foreclosures is expected to be phased out of the market.

Housing will recover by the end of the year. Now that inventory has contracted to average levels for what constitutes “normal” regional markets in major metropolitan areas where prices have declined as much as 50% in the past three years, and month to month sales have steadily increased over the past six months, demand has realigned with supply to arrest the freefall in values.

The housing recovery began in early 2009. Median price increases in some markets indicate that even while many pundits were openly wondering when the bottom of the market would appear, it was actually several months in the rearview mirror.

Many factors and variables, and just as many divergent opinions to boot. So many, in fact, that you almost have to choose amongst the purported experts to determine whether you fall in the half empty or half full category. Job rates, interest rates, unemployment rates … psychiatric rates, for spending too much time poring over the data and extrapolations will render one in need of a head exam.

Overanalysis 101.

You don’t need flow charts to tell you where things stand at the moment. You won’t need a market report to tell you when things are better.

You’ll know the market has recovered when you no longer dread the trip to the mailbox or evening phone calls.

You’ll know the market has recovered when you can confidently re-enable automatic bill pay from your checking account instead of prioritizing which ones get paid this month by how far past due each is.

You’ll know that the market has recovered when you don’t have to decide whether you or a loved one is really ill enough to warrant the cost of a trip to the doctor.

You’ll know the market has recovered when you no longer have to explain to the kids why you can’t go to the zoo or stop for ice cream today.

You’ll know the market has recovered when sleep comes as readily as worry formerly did.

You can stop looking to someone else to tell you when the market is fully healed as the housing implosion is the root of these greater ails. It’s far easier to take stock of your own life, and those of your friends and family, to see where along its arc the pendulum is currently settled. As the finance/housing sector dragged our economy into the muck, it will again lead us back to dry ground. No need to watch the stars for celestial clues. Just do what no pundit can and watch your own life for improvement. You’ll know housing has recovered when both of your own feet are planted squarely on terra firma.

Most importantly, beware the forecasts that don’t jive with your own internal index. Those who would adamantly assert the rosiest or bleakest prognosis are likely more interested in influencing your behavior than in your well being.

“Buy now before prices shoot back up!”

“Sell now before prices erode further!”

When you stop listening to yourself, you risk placing all of your trust in the megaphones of those who have a vested interest in your fear.

Is the housing market improving? Is now the time to buy? The time to sell? For months, I have been asked to provide the answers to these questions. I have dutifully provided my vague predictions with the obligatory caveat that no one truly knows how a free market will behave from one day to the next. I realize, though, that in supplying answers to those who actually give the market context, that we have all been looking at this thing from the wrong perspective. It makes zero difference where I think the market stands at present, and where it is headed. The very consumers who ask me these questions are the ones who will ultimately provide the truth or fallacy to my various hypotheses. So I turn the tables and ask the consumer, the actual authority, the very same question.

“What is the state of the Real Estate market?”

Feel free to comment here or send me an email with your thoughts. Looking for opinions from consumers and laypersons, not agents or financial wizards (all comments welcome, though). I will post the results in a follow-up piece.

Mr. Homeowner & Mrs. Homebuyer, the floor is now yours.

Understanding the Internet Buyer (NAR Convention Speech)

Wed, 18 Nov 2009 20:57:55 -0600

Via Spencer Rascoff (Zillow):

Here is my presentation from the NAR Convention in San Diego, "Understanding the Internet Buyer". If you ever want me or someone from Zillow to present to agents in your office (in person or via webinar), please let me know.

Here's the video. It seems to crash the Firefox browser when I embed the video, so you'll have to watch it over on ustream.

Understanding the Internet Buyer

Like what you're reading? Then subscribe to my blog to receive updates.

Lets Say Thanks

Wed, 18 Nov 2009 20:56:53 -0600

Via Ron Brown FHA & VA Home Loan Specialist (First Mortgage Company of Washington):

I just received an email from one of my past military borrowers who has a loved one in Iraq. I thought it was a fabulous idea worth sharing with all the good folks on Active Rain.

Xerox is sponsoring a Thank You card drive for the men & women of our armed forces stationed overseas this holiday season. It will only take a minute of your time, and will definitely brighten their day. All you have to do is visit the Lets Say Thanks web site, follow the 3 easy steps (give your name, pick a design, and choose a pre worded thank you message, or create your own), and Xerox will print and deliver the card to one of our troops.

It does not matter what your stance is on our politics, or foreign policy, these people are serving our country, and deserve everyone's support. From a completely selfish standpoint, this is a great way to get in front of your database in a positive way. Who knows, you might just get some business out of being a nice person.

You Think Your House is Worth WHAT?? Pricing Your Home to Sell

Tue, 17 Nov 2009 22:54:57 -0600

Via Liz Moras ~Chilliwack Realtor, Chilliwack,Hope,Langley,Abbotsford (Harrison Hot Springs, Cultus Lake):

You Think Your House is Worth WHAT? Pricing Your Home to Sell

O.k., so you've looked on the Internet, you've checked the Real Estate Weekly - and you've talked to your Neighbors. You're pretty sure you know what you WANT your home to be worth. Next step? You call the Realtors in.

Everyone says you should interview 3 Realtors - so that's what you do! And sceptically you await their Verdicts! Does the highest Bid (because that's what it often is) win your Vote? Well it shouldn't and let me tell you why.





                                                  BUT Your neighbor's house just sold for XXXXX!

First of all, Realtors have access to the same information Online. By doing a CMA (Comparative Market Analysis) they should be able to come very close to the Range of Your Home's Value. They will see which homes are currently Listed, those that will be in direct competition with Your Home; they will see which comparable homes have Sold recently; and they will ALSO see which homes have 'Expired'....(Listed But Not Sold). That's the Starting Point!

If you use a Local Realtor - which is what I Recommend- they'll also be able to take into consideration different factors about your neighborhood - like development, schools, safety, proximity to transport etc.

                                                            BUT Your House has been upgraded!



Now where no 2 homes are exactly alike - chances are we've seen most of the homes for sale in your area and have an inside view that you may not have seen. Even online photos won't give you a complete view of how these homes compare.

In many ways - it's the Buyer that ultimately determines the value of your home. A house is worth what somebody will pay for it. It's important to try and anticipate what MOST buyers will pay for it. If the price is too high - you may just end up remaining THAT Buyer! If your home should by some chance sell for more then the estimated value, remember the home still needs to be Appraised for the Buyer's Bank, and if it's overpriced it just may not!

                                      BUT That's What INEEEEEEEED to Get for My Home!

There is the odd time that a home is unusual and there are not direct comparables, sometimes this requires a trial and error strategy where we have to gage potential buyer responses in order to fine tune the price.

Another factor is the current 'Real Estate market'. Is it a Buyer's market or a Seller's market - or is it balanced? What kind of standing inventory is in the market in your price range. These will all factor in to your pricing.

The value of a home can also be estimated in part by using the price per square foot calculation. But you do have to use a sliding scale of adjustment. The 'core' of the home is worth more then the peripheral square footage. ie. the price per sq. foot for a 1000 sq. foot rancher will be higher then that of a 3000 sq. ft. basement home.

Should you start higher - after all - you can always come down??? No! If you do that you should be charging your competitor a fee for helping them sell THEIR home!

Remember the most critical time for selling your home is in the first 30 days. Longer then that you can bet your bottom dollar, (and unfortunately that's probably what it will end up being) that the Buyer will be paying attention to your 'days on market' when making both their buying decision and price point!

How do you know if your house is priced right? Feedback! Your Realtor will be calling to get feedback on showings from both the Buyer and their Realtor.  If you've had over 6 showings and have been on the market for 3 or so weeks that should give you some idea of what the market thinks. Unusual or high end homes could be the exception here though.

Sometimes the most important factor is YOUR motivation. How motivated are you to sell?   I know a lot of Seller's like to tell us that 'they don't HAVE to sell'.......and in most cases that's true - you don't! But if you do want to sell your home call a Realtor that knows your market and will be honest with you - because that's what a professional does - they Help you Price Your Home to Sell!







If you or someone you know is thinking of Buying or Selling property in Cultus Lake, Chilliwack, Hope, Abbotsford, Langley or anywhere in the Fraser Valley Area of B.C. - or if you would like more information please give Liz  Moras of Landmark Realty Chilliwack a call at- 604-799-0459 or e-mail at lizmoras@gmail.com.

Copyright © 2009 By Liz Moras, All Rights Reserved. All photos by Liz Moras ( except the one's I'm in!). All information provided by this author is only an opinion, it is not guaranteed, may be based on information collected from several sources, and may be time sensitive. It is not necessarily representative of the opinions of Landmark Realty Chwk. Ltd..

Clutter may be a buyer's best friend

Tue, 17 Nov 2009 22:52:04 -0600

Via Mike Carlier ABR CRS GRI (MarketLink Realty):

When counseling buyers, we discuss what is important to them in finding a new home. We also discuss what is important in getting a good home at a great price. In my opinion, three important traits of a potentially good buy are:

1. Overpriced. A home priced just out of its market range will get few showings and fewer offers. If the seller can afford tosell at a market, our offer may be the only one they see. There is a fair chance that, if the offer is presented properly, they will accept it.

2. Unusual paint colors. Any color that causes a potential buyer to focus more on the walls than the house will send many quickly to the next showing appointment. My advice to my clients is to expect to see, and learn to love homes with ugly colored walls. Much of your competition has moved on, and about a hundred bucks worth of paint will fix it.

3. Clutter. Wading through piles of the owners' "stuff" is annoying, and too much furniture makes the place look like an overstuffed dollhouse. The home looks unattractive, and it will be passed over by many potential buyers. That's great for us. Fewer potential offers put us in a much better bargaining position, and we know that all the stuff will be gone by the time we take posession of our bargain home.

Frankly, I love taking advantage of poorly prepared sellers. That's one of the best parts of my job.

Negotiating a Short Sale Is Like Eating a Dark Chocolate Bacon Cupcake

Tue, 17 Nov 2009 22:50:42 -0600

Via Melissa Zavala Realtor® North San Diego County Homes (Broadpoint Properties):

The other day the msn.com home page featured a dark chocolate bacon cupcake recipe. I saw the feature and did a double-take. What the heck is this? What is it gonna taste like? Breakfast and dessert all in one? I cannot for the life of me imagine what this think is going to taste like when I put it into my mouth. I imagine that it'll be something like the stick of chewing gum that Violet Beauregarde began chewing in Charlie and the Chocolate Factory . . . you know, the one that tasted like a 3 course meal: tomato soup, roast beef, and blueberry pie.

Just as I wouldn't know what to expect in the exotic flavors of that cupcake, I never know quite what to expect when working on a short sale. Today I had a seller from Oceanside, California contact me about selling his home in a short sale. He asked me some questions about the length of the process, the impact on his credit, and whether the bank will accept his hardship.

In the last two years, I have negotiated more short sales than I can count. Each one is its own animal. With each successful negotiation, I have always been surprised by the new and interesting ways that the "bacon" has mixed with the "chocolate." Will the transaction move quickly or will the paperwork get lost between the fax machine and the bank's database?

What I can say is this: my experiences have taught me to be an expert strategist. I can anticipate what will probably occur, and use leverage, contacts, and experience to obtain the best result possible for the client.

But can I predict what flavor will be in Violet's gum or how that cupcake will taste? Not with 100% accuracy!

As a side note: Son #2 is enchanted by the recipe and requested that we give it a try on the weekend. I'll let you know if we survive the taste test!

Broker, Realtor®
DRE #01324959
Broadpoint Properties, Inc
San Diego County Short Sale Specialists
Short Sale Expeditor®

If you enjoyed this post, why not connect with me in these other communities?

When It Is A House Divided

Tue, 17 Nov 2009 16:15:51 -0600

Via Myrl Jeffcoat (GreatWest GMAC Real Estate):

Hard economic times often take a toll on families, marriages and relationships. Real Estate Professionals are increasingly hearing of a trend - which may remind folks of the movie, "War of the Roses."

Current real estate market conditions have some divorcing couples looking to separate their lives, but realizing they can't afford to live apart until their home is sold.

Unlike a few years ago, when many homeowners had loads of equity to share, and really good credit, current times are providing many glimpses of reversal of fortune.

If you are one of those couples, and need to continue co-habiting until you get the house sold, and shore up your financial situation better, there are things you can do to make life a little easier for yourselves in the interim.

It is also important to understand that staying together can actually have a positive effect on marketing your home. Home Buyers have become quite sophisticated in recent years, and have a knack for sniffing out signs of Sellers in distress. Seeing that a couple continues to be together in a home can remove a bit of the appearance of distress - even if it is painful for you!

If you are a divorcing couple and find yourself in a forced cohabitation situation until your home sells, there are a few things that you can do to make the experience a little easier.

1) The two of you should sit down and discuss your situation as peacefully as possible. Perhaps putting yourselves into a mindset that you will continue as roommates for a few months until the house is sold. You are together in the house in the physical sense - even though the emotional sense has changed.

(2) Negotiate with each other the mortgage payments, utilities, and other household expenses, and address the duties for upkeep. Doing this early on, will help alleviate problems from popping up in the midst of this living arrangement - which weren't addressed early on.

(3) If there are children in the home, please put the children and their well being first and paramount in your consideration. Doing so, will help you focus on things more important than your own discomfort. If the children suffer less distress, it will be easier for all of you.

With a little thought and consideration, you can be successful in selling your home, and making what could be a bad situation work well, and to your benefit.

Good Luck to you!

Lenders Going Back To The Future

Tue, 17 Nov 2009 16:15:03 -0600

Via Patricia Kennedy (Evers & Company Realtors):

A lot of us have started to go nuts as lenders are getting more and more nitsy, driving our beloved clients crazy with last second requests for documentation and other paperwork issues that seem to come to a head about two days before settlement.

This morning, I had a talk with a lender who has been making loans as long as I've been selling houses, and we were laughing about how it's getting to be just like the good old days! So now, I'm coaching all of my buyers on what to expect during the process. By preparing them for all of the stuff that is totally annoying people right now, I'm hoping that if they expect the nitsy, it won't annoy them as much. Here are some of the things I'll have them be on the lookout for:

For a while, the lenders were all pretty casual about pest inspections. Well, now it there is a single carcass of a single once alive termite on the property, there will have to be some evidence that the little guy did not die of natural causes like old age. This means evidence of prior treatment, either in the form of paperwork documenting when the treatment was done or a new treatment. Same with repairs of termite damage. You'll probably need someone to certify that it was done by a licensed termite repair contractor, or you will have to bring in a licensed termite repair contractor to say it was done properly.

They are looking at condominium documents more carefully, with an eye to saying no to people buying in buildings that look like the owners' association might be in trouble. In projects with a lot of short sales and foreclosures, this could further compound the problems they are having with owners who cannot pay either their mortgages or monthly association fees.

If you put any money into your checking account that was not your regular pay check, you will have to account for it. So if you are self-employed, keep good records of your clients' payments. Same if you are on commission. I just had some buyers need to get a letter from grandma saying the $1000 check they deposited was, in fact, a wedding present.

If you are getting a large gift from your parents, you may have to document that they did not borrow the money to give to you. You'll also probably have other lender's guidelines about the amount as a percentage of your down payment.

It is taking a lot more time to get the papers through the lender's system - getting the loans through underwriting and then getting documentation to the title companies. It's like they are trying to do the work with fewer people, which means the fewer people are going to put your papers in higher and higher piles that take longer to get to.

And they keep thinking up new things faster than we can add them to our What to Expect list!

We used to have to deal with these situations all the time before about the mid-1990's. All lenders were a pain, but it didn't seem like a pain at the time because we were totally used to it.

And yeah, they expect to get picky, picky, picky! And trust me, it will still be easier than when I was a new agent and had to walk through the snow for miles to hand deliver the extra documentation!

235 Richlandtown Pike Quakertown PA Great Home for Sale!

Mon, 16 Nov 2009 21:28:16 -0600

The Bradbury Team; Don Bradbury,Marilyn Woldow, Jodi Cheatle, Linda Hoy, Janice Kutt, Jen Lorenz | Coldwell Banker Heritage 1448 W Broad St Quakertown PA 18951 | bradburyteam@bradburyteam.com | 215-536-6777 x 329

235 Richlandtown Pike, Quakertown, PA

Charming Quakertown Ranch on a great lot!

2BR/1.5BA Single Family House

offered at $249,900

Year Built	1958
Sq Footage	1,800
Bedrooms	2
Bathrooms	1 full, 1 partial
Floors	1
Parking	4+ Uncovered spaces
Lot Size	20,778 sqft
HOA/Maint	$0 per month

DESCRIPTION

This charming ranch is located on a large lot that backs up to many acres of protected farm land. This home features a large living room with ceiling fan and wood burning fireplace; leading to the dining room, modern kitchen with stainless steel dishwasher and mud room with first floor laundry, leading out to the covered back patio. New Vinyl Replacement Windows and hard wired smoke detectors are included. Two first floor bedrooms, including a huge master bedroom with two large walk in closets and a ceiling fan; Interior doors have been designed to be 36” wide for wheelchair access; Upstairs features space for two bedrooms, a walk in closet, full bath, and an office, under construction, all awaiting your finishing touches. The Basement features 8’ high ceilings, and provides ample storage, workshop, and living spaces as well. The quiet back yard includes a home made tool shed and garden. Please call for a showing appointment today!

see additional photos below

PROPERTY FEATURES

- Central heat	- Fireplace	- Walk-in closet
- Hardwood floor	- Tile floor	- Living room
- Dining room	- Breakfast nook	- Dishwasher
- Refrigerator	- Stove/Oven	- Stainless steel appliances
- Attic	- Basement	- Laundry area - inside
- Balcony, Deck, or Patio	- Yard

ADDITIONAL PHOTOS

Photo 1	Photo 2
Photo 3	Photo 4
Photo 5	Photo 6

Contact info:

The Bradbury Team; Don Bradbury,Marilyn Woldow, Jodi Cheatle, Linda Hoy, Janice Kutt, Jen Lorenz

Coldwell Banker Heritage 1448 W Broad St Quakertown PA 18951

bradburyteam@bradburyteam.com

215-536-6777 x 329

For sale by agent/broker

Equal Opportunity Housing

Posted: Nov 11, 2009, 12:40pm PST

1038 Montgomery Road Pennsburg PA Giant Price reduction!

Mon, 16 Nov 2009 21:25:53 -0600

1038 Montgomery Avenue, Pennsburg, PA

Pennsburg Colonial Priced to Sell Quickly!

3BR/2BA Single Family House

offered at $179,900

Year Built	1975
Sq Footage	1,622
Bedrooms	3
Bathrooms	2 full, 0 partial
Floors	2
Parking	Unspecified
Lot Size	0.24 acres
HOA/Maint	$0 per month

DESCRIPTION

THIS HOME IS IN THE 5-K PROMOTION. Call FOR DETAILS ON AWARDS FOR BUYERS AND AGENTS! This two story colonial in the Pennsburg Boro of Montgomery County PA, is conveniently located across the street from the Upper Perkiomen High School and has easy access to local shopping, businesses and major transportation routes including the PA Turnpike. The roof is only 5 years old and has 30 year sculptured shingles; Heating is oil with hot air delivery. Home is featuring three bedrooms, 1 ½ baths, attached one car garage, a full basement, and a nice private back yard. This seller is very motivated and needs to move out of state to be with family, and will be happy to review all offers for a quick sale. Please call for a showing appointment today! (House needs TLC, as well.)

see additional photos below

PROPERTY FEATURES

- Central heat	- Tile floor	- Family room
- Living room	- Dining room	- Dishwasher
- Stove/Oven	- Basement	- Laundry area - inside
- Yard

OTHER SPECIAL FEATURES

- Utilities: OilHeat, ElectricHeat, HotAirHeat, BaseboardHea, ElectricHtWt, Wall/WndowAC, PublicWater,

- Parking: 1-CarGarage, Att/BuiltInG, 3+CarParking

- Exterior: Alu/SteelExt, AsbestosExt, Block/BrickF, LevelLot, OpenLot, FrontYard, RearYard, SideYard(

- Bsmt: FullBasement, UnfinishBsmt

- Interior: AccessPanel, NoFireplace, W/WCarpeting, Vinyl/LinFl, CableTVWired, LR/GREntr, NoModifs/Unk

- Kit: EatInKitchen, ElecCooking, KitBuiltInRa, SelfClnOven, BuiltInDishW, BuiltInRefig Finance: Con

- Cond: Average+ Docs: Disc

ADDITIONAL PHOTOS

Photo 1	Photo 2
Photo 3	Photo 4
Photo 5	Photo 6

Contact info:

The Bradbury Team; Don Bradbury,Marilyn Woldow, Jodi Cheatle, Linda Hoy, Janice Kutt, Jen Lorenz

Coldwell Banker Heritage 1448 W Broad St Quakertown PA 18951

bradburyteam@bradburyteam.com

215-536-6777 x 329

For sale by agent/broker

Equal Opportunity Housing

Posted: Nov 11, 2009, 10:57am PST

The Power of the Rain...

Mon, 16 Nov 2009 21:22:57 -0600

Via Lori Cofer ~ REALTOR® -- Pullman WA Real Estate -- 509-330-0086 (Beasley Realty):

I guess I have just been in one of my reflective moods of late but I ran across this picture a couple of days ago. It has been rolling around in my head and it just keeps going through the corridors of my mind as I have been reading blogs here in the Rain.

It struck me that when we first join Active Rain we all feel pretty isolated. Like the rain drops in the picture. Maybe you remember that feeling....just "one drop" among so many...I know I did.

Over this past year I have been finding myself...myself as a blogger, myself as a Realtor and how I decide to do my business, and me as person. Yes, even as a person as these things are shaping who I am and who I want to become.

As "this little drop" reached out to other drops...sometimes for help...sometimes for support...sometimes for fun...an amazing thing happened. I learned from some great bloggers here to find my own style. From Debe Maxwell I learned to strive for superior service and dress up my blog....from Loreena Yeo to be myself...from Gary Woltal to reach inside myself and express that...and from Sheldon Neal to have some fun...and of course from more than I can name a lot about Real Estate...after all it is a passion WE ALL SHARE...

So you see, like the picture water does tends to attract other drops....and I guess I had an epiphany of sorts...it struck me that is The Power of Active Rain.

We are a community...made of lots of different people...with different interests...different points of view...and that is what makes this such a great place. And although we are all so different...We have one thing in common.

We all have a passion for Real Estate and we are part of this fast growing Active Rain Community. I guess we are like little ants working away commenting and blogging...for the benefit of ourselves and the community that we are all a part of. We all know we can't do it alone...that is why we are here...we recognize the power of numbers...yet we are ~ each and everyone of us ~ unique with our own perspectives and experiences to share...that is the power of the Rain.

Confidence and Humility--Get the blend right and the world will beat a path to your door

Mon, 16 Nov 2009 21:21:49 -0600

Via Elliott S. Topkins Massachusetts Real Estate and Title Atty (Topkins & Bevans-etopkins@topbev.com):

In Massachusetts, where I practice, we have been very fortunate in having excellent professional sports teams, with enlightened management. Only the Bruins, our representaive in the National Hocket League, has not won a championship in the 21st century. The Patriots have won three times, and the Red Sox twice.

Still, there are times of frustration for New Englanders as fans, and last night's Patriot's 34-35 loss to Indianapolis surely ranks as one of the most difficult pills for me to swallow as a sports fan. What made it worse for me was the rather blase manner in which Bill Belichick tossed off a bad decision late in the game, and never just said "I made a mistake".

That smug attitude in defeat got me to thinking about what I would have done in a similar situation. I have been practicing real estate law in Mssachuseets for more than forty years, and I have made many mistakes along the way. There was a time when I would make excuses for my mistakes, or, worse yet, blame others for problems I created myself.

Just about the time I started getting things done on time rather than making excuses why I had not, I realized that most clients would accept an honest apology, especially when it is coupled with an action plan to fix the problem. In fact, i have had some of my best triumphs after I started out in the worst of positions.

Americans are great "forgivers". They are ready to give people a second chance almost all the time. Keep that in mind when you are practicing your profession. Lying, or making lame excuses, is not the course of action for a person of integrity. Admit what you did wrong, and try to fix it. If you demonstrate humility now and again, you will endear yourself to those people who sought you out because of your confidence and talent.

There is a balance there, and we should seek it every day. Coach Belichick should have just said he made a mistake. We all do, and with his track record, he is entitled to a few. So are all of us.

1038 Montgomery Road Pennsburg PA Giant Price reduction!

Sun, 15 Nov 2009 20:13:47 -0600

Photo Gallery

Description

Utilities: OilHeat, ElectricHeat, HotAirHeat, BaseboardHea, ElectricHtWt, Wall/WndowAC, PublicWater, PublicSewer, 100-150AmpEl Parking: 1-CarGarage, Att/BuiltInG, 3+CarParking Exterior: Alu/SteelExt, AsbestosExt, Block/BrickF, LevelLot, OpenLot, FrontYard, RearYard, SideYard(s), PitchedRoof, ShingleRoof, Patio, NoPool Bsmt: FullBasement, UnfinishBsmt Interior: AccessPanel, NoFireplace, W/WCarpeting, Vinyl/LinFl, CableTVWired, LR/GREntr, NoModifs/Unk, BsmtLaundry Kit: EatInKitchen, ElecCooking, KitBuiltInRa, SelfClnOven, BuiltInDishW, BuiltInRefig Finance: ConventnalFi, FHA, VA Cond: Average+ Docs: Disc

Features

Bedrooms:	3
Bathrooms:	1.5
Parking Spaces:	3
Year Built:	1975
Subdivision:	Pennsburg Boro
Lot Size:	0.24
Garage Size:	1
School District:	Upper Perkiomen
Square Footage:	1622
Agent Name:	Donald Bradbury
Broker:	Coldwell Banker Heritage
MLS #:	5613644

Location

1038 Montgomery Avenue Pennsburg PA 18073

vFlyer Id: 2674326

It's Not Always Wise to Mix Friendship With Business: Sometimes Agents Should Back Off

Sun, 15 Nov 2009 20:10:11 -0600

Via Elizabeth Weintraub, Sacramento Short Sale Agent, 916.233.6759, Lyon RE (Lyon Real Estate):

Whenever my neighbor goes on vacation, she asks me to watch her house and pick up the mail from her front steps. This is such a quaint custom in Land Park -- throwing mail on the porch when there's too much or it's too big to stuff into the mail slot. Mail carriers in other parts of Sacramento often stick oversized mail inside the screen door, but not here. Our mail is tossed on the porch like a dead squirrel.

When my neighbor's husband was killed suddenly in a tragic car accident on the W-X freeway, my husband and I were there for her. We invited her grieving family over to our home for dinner, attended the funeral and the year-later celebration. We shared photos of our vacations, vegetables from our gardens and stories of our days.

I had listed her Land Park home a while back. After a few weeks of showings, she asked why her home wasn't selling, and I leveled with her. She needed to take down the paneling in the living room, remove her heavy drapes from the windows and install plantation shutters, take up the carpeting and refinish the hardwood floors, scrape the acoustic ceiling, and paint everything in tones of coffee and cream.

We took the listing temporarily off the market, she hired contractors and did the work. Her home was transformed. Afterward, I sensed that something was bothering her, so I asked what was wrong. She blurted out: "My home is so beautiful I no longer want to sell it." That's all right. I understood. I canceled the listing. It's common for people to feel seller's remorse. Besides, I was relieved she wasn't moving.

My neighbor called yesterday. She asked if I could take a break and come over. Something was up. We talked about her recent vacation. She showed me photos of her granddaughter. Then she dropped the bomb. It was prefaced by: "I don't want you to be mad," and I knew what was coming. Yup, her daughter in Los Angeles knows this guy, a friend of her uncle's cousin or something. He has a real estate license. About 1 in every 35 people in California has a real estate license.

There will be no for sale sign in the yard. And if he can't sell her home in a few months, she'll give the listing to me. This plan makes about as much sense as banging your head against a wall because it feels so good when you stop. Her daughter wants the business to stay in the family. After all, she says, this guy sold one home this year, a home south of Florin in a week. To her daughter, he's perfectly qualified to sell homes in Land Park because he is family. She doesn't believe they need a Land Park agent yet, much less an agent who has already sold $11 million this year.

You know what? Friends come first. Even misguided friends. I don't need to take every listing on my street. Seven years ago, when I moved to Land Park, I might have felt differently, but not today. So, I hugged her, promised to get her information on transferring her tax base and went home, feeling very sad that my friend is moving away. I'm going to miss her.

Photo: Elizabeth Weintraub

---

Elizabeth Weintraub is an author, home buying columnist for The New York Times-owned About.com, a Land Park resident, and a Land Park real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown and East Sacramento. Weintraub is also a Sacramento Short Sale agent who lists and successfully sells short sales throughout Sacramento. Call Elizabeth Weintraub at 916.233.6759. Put 35 years of real estate experience to work for you. DRE License # 00697006.

The Short Sale Savior, by Elizabeth Weintraub, available through bookstores everywhere and at Amazon.com.

Photo: Unless otherwise noted in this blog, the photo is copyrighted by Big Stock Photo and used with permission.

Facebook Fan Page Basics

Sat, 14 Nov 2009 20:30:16 -0600

Via John Novak - Las Vegas and Henderson NV Real Estate (Keller Williams Realty The Marketplace):

Most businesses recognize the huge marketing power of Facebook, but are unsure of how to use the platform. Should they set up a profile, a group, a fan page ... or a combination of these?

Facebook Fan Pages 101 provides a good overview of fan pages from Ron Jones at Search Engine Watch. One of the most important features is that "external search engines index Facebook fan pages."

Setting up your fan page is easy. Just go to Facebook Pages and you'll find a step-by-step guide as well as tips to prepare and build your fan base.

Already have a fan page? Share a link in the comments. We'll help you increase your fans, and your page just might inspire another!

More Facebook posts:

Keeping It Private On Facebook
Maximizing Your Facebook Fan Page
Five Facebook Fan Page Tips

Duct Tape for Facebook
Managing Your Facebook Fan Page
Facebook Fan Pages Done Right

Google Docs is a Great Way to Publish Daily Updates on Short Sales to Your Website

Fri, 13 Nov 2009 20:04:33 -0600

Via Elizabeth Weintraub, Sacramento Short Sale Agent, 916.233.6759, Lyon RE (Lyon Real Estate):

My husband is a savvy shopper, always looking for bargains and buying stuff on sale. Thank goodness he's not into those big discount chains and coming home with armloads of toilet paper. I've been to homes where the bathtub was the only place left to stash an oversupply of toilet paper. But he does tend to buy larger quantities of an item when it's on sale.

He was thrilled when he discovered that Target over on Broadway had Fancy Feast on sale. Our older cat, Brandon, loves Fancy Feast canned cat food. Turkey and Giblets. Maybe he's a Thanksgiving cat at heart? He turned up his nose at the other types of wet cat food we've tried to feed him, all of which smell nauseating but appear to be culinary delights for a cat.

My husband was so thrilled with Target's sale prices that he bought a couple of cases of canned Fancy Feast. Except they weren't Turkey and Giblets. Some were chicken and grilled beef. Maybe he was hungry when he went to the store? His explanation was he thought that Brandon would like a choice among a variety of flavors.

No, he wouldn't. Cats dislike change. They don't need variety in their diet. Once a cat has established that he likes a particular type of cat food, that's what you give him. Brandon expects the same food in his bowl, day-in and day-out. It fulfills a basic need that he can count on. Until the day comes when he changes his mind, and then he will let me know because he'll stop eating it and demand something else.

People are resistant to change as well. Sometimes, the older they get, the more stuck in their ways they become. Few roll with the punches. Some gripe, complain, snarl. Many have a routine, and they repeat that routine day after day. Change can be frightening.

I'm sort of an abnormality and buck the tide. I embrace change. I'm constantly searching for ways to improve things -- by remodeling my home, remodeling my car, remodeling myself, even. As a Sacramento short sale agent, I'm also constantly looking for ways to improve communication and speed up the short sale process. I believe communication is key.

Which brings me to my point. I have created a link to my website that now displays, in real-time, the activity on my Sacramento short sales. I refer buyer's agents to the site, which has dramatically reduced the amount of time I used to spend on my cell yakking about them. Clients can go there, too, to check the status of their short sales. Plus, the link is accessible by my associates who can post updates on the site as well.

Best of all, it's free. Any real estate agent can set up a reporting system such as this and publish it to a website through Google Docs. Check it out. Just go to Elizabeth Weintraub's website and look at the lower-left menu. It's the bottom link, called Short Sale Listing Status.

Photo: Brandon, in his Land Park home, by Elizabeth Weintraub

---

Elizabeth Weintraub is an author, home buying columnist for The New York Times-owned About.com, a Land Park resident, and a Land Park real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown and East Sacramento. Weintraub is also a Sacramento Short Sale agent who lists and successfully sells short sales throughout Sacramento. Call Elizabeth Weintraub at 916.233.6759. Put 35 years of real estate experience to work for you. DRE License # 00697006.

The Short Sale Savior, by Elizabeth Weintraub, available through bookstores everywhere and at Amazon.com.

Photo: Unless otherwise noted in this blog, the photo is copyrighted by Big Stock Photo and used with permission.

Active Rain Featured in the North Carolina Association of Realtors® Insight Magazine

Fri, 13 Nov 2009 20:03:15 -0600

Via Debe Maxwell, Realtor® - Charlotte NC MLS - Charlotte NC Neighborhoods (Helen Adams Realty):

Active Rain Featured in the North Carolina Association of Realtors® Insight Magazine

Barbara West, Assistant Editor of the North Carolina Association of Realtors® Insight magazine featured three of Active Rain's NC agents in their most recent edition! "Active Rain is a True Real Estate Community" featured your own Leesa Finley, Diane Aurit and myself--all of which expressed our passion for the Rain and how beneficial it is to our business.

Leesa, from Wake Forest, recently received a phone call from an excited buyer, proclaiming "I hear you're the Wake Forset specialist." Leesa knew right away that she had been discovered by this potential buyer, none other than, right here in the Rain!

Leesa & I reviewed the benefits of Active Rain's incredible search engine optimization and the reason behind this phoenomenon! Leesa is excited that she can post a blog and have it found by the search engines within 15 minutes!

Diane, from Lake Norman, shared the networking / problem solving capabilities of agent-to-agent posts (members only) and the benefits of having this network available to us. In our business, this is very important! One example that I can share is reading Katerina Gasset & Broker Bryant's posts on short sales, thinking a couple of years ago that short sales would never see the light of day in North Carolina! Well, was I ever wrong! For the past year, I've been using Active Rain as my primary source for learning short sales and networking with other agents who specialize in them. What a relief it has been to have the power of this network behind every aspect of a short sale for me and my team!

I reviewed the Ambassador program with Ms. West and explained how we're here to teach new menbers and mentor them until they can 'fly alone!' Barbara did join the network and found that the new member services were more than welcoming and that they were receptive and responsive to questions that new members have. Her comment, "They want to help you!" I just think that it's wonderful that this is the first impression that she got from her experience with Active Rain! Of course, I would expect nothing less--the AR staff have always been incredibly responsive to me--even when I had the silliest of questions--they are so giving of themselves, their knowledge and their time!

That is what I LOVE about Active Rain! Everyone WANTS to help make one another successful. How exciting to have our favorite real estate forum featured in the North Carolina Association of Realtors® Insight magazine! Kudos to my NC buddies, Leesa & Diane--great interviews and awesome promotion of our favorite real estate network. Hopefully we got the word out to other agents about the benefits of Active Rain!

Useless Pieces In The Transaction (Wholesaler, Flipper, "Loss Mitigator")

Fri, 13 Nov 2009 20:02:43 -0600

Via Ken Cook, FHA Home Loans 678-439-8683:

Someone reading this post will think it's about them. If it is you then do something right for once go turn yourself in and get out of the business of hurting sellers, buyers and my industry you piece of trash.

Today I received a call from a friend and broker who is representing a buyer in a short sale transaction. He called me because I have been on the lender and trainer side of short sales longer than the vast majority of so called "short sales experts" have known the terms. Because I am a HUD Direct Endorsement lender for FHA loans and a Fannie Mae direct seller I know the difference between guidelines and lender overlays. The latter are designed to protect the middle men and often enhance the guidelines for underwriting government and agency loans. So his question was whether or not his buyer was being denied because of a real guideline or something only that lender does.

Since the initial question was about seasoning on title and flipping the answer was very simple - 90 days required from purchase to sale date. In other words the useless piece of the puzzle, the "wholesaler", would need to be on title as recorded in the deeds and records office, for 91 days prior to the clear to close on the sale. I offered some ideas that would help his client take possession of the property prior to the consummation of the sale which included a bona fide lease purchase but when I began to question more specifically some big bright burning flashing red flags started popping up.

First I asked how long the "wholesaler" had been on title. When I found out he has not yet closed and this is a short sale I asked how he got into the mix. The broker indicated the guy is a "Loss Mitigator". Oh, so he works for the lender? No, he's just some guy who owns a loss mitigation service and is wholesale flipping the home from the owner to the purchaser. Oh, a scum sucker!

I have written about "Loss Mitigators" before and I'm going to kick some teeth with my next statement but swallow them and like it if it's you. "LOSS" MITIGATORS WHO DON'T WORK FOR THE LENDER ARE USELESS, COSTLY AND UNWELCOME PIECES OF THE TRANSACTION. I have heard the FTC is investigating you and I'll be happy to provide them with all the case study and education they need to get you out of my industry and far away from real estate.

Naturally I wondered how the "Loss Mitigator" got involved and was very VERY intrigued to learn the listing agent had told the buyer's agent (my broker friend) he would have to deal directly with this "Loss Mitigator".

ORLY?

So the LISTING AGENT cannot deal with the BUYER'S AGENT and the BUYER'S AGENT has to deal with this "Loss Mitigator" who is NOT an employee of the lender?

Interesting. So just who is this so-called "Loss Mitigator" who is not an attorney, is not a real estate agent and does not work for the lender?

After a few more questions and answer I discovered the preferred title agent for the seller had been changed to the preferred title agent for the "Loss Mitigator" who shares and office with the new title agent.

This is probably the best of all: The buyer's agent sent the contract to the seller's agent and the contract came back with the home owner's name lined through and the LLC (company name) of the "Loss Mitigation" dude written in.

My advice? Call the Real Estate Commission, call the bank holding the note on the property and run! I also added to have the buyer contact the seller directly and ask who this "Loss Mitigator" is and what the exact negotiated sales price is. The contract the buyer currently has is probably useless since the "Loss Mitigation" Company (and I sure hate using that term because it's as bogus a use of the terms as they come) signed as the seller. I'm sure Wells Fargo would be very happy to know about this case since they are the ones who allegedly hold the security instrument.

Scumballs, bottom feeders, leaches, parasites, and crooks - I can smell you 864 miles away and you need to get out of this industry. You are in part to blame for the condition of the industry today. You prey on people with your fancy titles that don't mean squat and in fact are INTENDED only to confound the innocent and those who are already facing financial devastation. YOU ARE ON MY RADAR and there are thousands like me who remain silent.

There is a right way to profit from real estate and the success to be enjoyed even in this market can be huge. This is the way thugs, crooks and cheats do it. I don't care WHO you are: If you don't work for a bank, if you are not BUYING homes and adding value before flipping them, if you don't have a LICENSE to represent buyers and sellers, then YOU are an unwelcome turd in the punchbowl.
Ken Cook - Georgia - FHA, USDA, VA and Conventional Home Loans (678) 439-8683