Carol Culkin - REALTOR® Dutchess County, NY

A Thanksgiving Dinner That Was Almost An AfterThought ....Happy Turkey Day!

Carol Culkin (Houlihan Lawrence Realty) — Wed, 25 Nov 2009 21:10:10 -0600

This year, the grocery bill for our Thanksgiving feast came to only $21.77. My grocery shopping wasn't a planned event. In fact, cooking a Thanksgiving dinner was not even on my agenda this year. I did the grocery shopping, without a list. I was in and out of the store in less than 15 minutes. And, the meal only took 2 hours to prepare.

Not only did I economize, but I simplified.

Our holiday plans had been up in the air this year due to changing family dynamics. My son managed to make it home from Maine this week and has to leave on Thanksgiving morning to head back and work on the holiday.

I decided at 4:00pm on Wednesday that we could still have a Thanksgiving feast - one day early. Actually, as my son heads to Maine in the morning my husband and I will be driving 3 ½ hours in the other direction to be in central New York at 2pm for Thanksgiving dinner with my parents at the independent/assisted living facility where I had moved them to this summer.

Even though I hadn't planned to make a Thanksgiving feast, by 7pm the turkey and the fixins were on the table. I didn't buy a big turkey. I purchased a bone-in turkey breast and since it was only 4 ½ pounds it only took a couple of hours in the roaster. I had many of the trimmings in my pantry including yams, cranberry sauce, stuffing (okay, it was the instant stuff0. And, so all I really needed was a few things at the grocery store - turkey, squash, potatoes. I am embarrassed to admit that I bought gravy in a can too. But, I had to pull this off fast and as it was the turkey breast produced very little drippings for a gravy base. I almost forgot to mention, hubby called me earlier in the day to tell me he was bringing home a pie - a gift from his admin. With little planning, it all came together nicely.

The meal preparation was fast and the grocery bill was minimal. There were fewer people than normal at our table this year. Typically there is 8 of us. It was a quiet celebration. But, for the first time in history our Thanksgiving feast was pepared fast and it was totally stress-free in the kichen. And, easy on the wallet too. I am Thankful for my family and that we took the opportunity to celebrate the holiday in advance with our son, we will spend tomorrow with my parents and the weekend with my daughter, granddaughter and son-in-law.

I never realized until today that the holiday season is only as stressful as we make it. Usually, I am preparing days in advance for the big Thanksgiving feast. I pulled it off in only 3 hours time, including time spent shopping and a 20 minute trip home from the grocery store. Now, if only I can convince the hubby that maybe we should stay stress-free and consider skipping Christmas.

Happy Thanksgiving to you and yours!.

Looking So Dumb - Finger & Thumb In The Shape Of An "L" On My Forehead.

Carol Culkin (Houlihan Lawrence Realty) — Wed, 25 Nov 2009 12:05:44 -0600

Ok, so lLast week I posted about how I had been declined for instant approval on a credit card application at a home improvement store. Humiliation is an understatement. I walked away feeling like the biggest loser. My credit score is in the 800’s so the rejection came as a total surprise to me.

I went to my bank to see if there were any red flags on my accounts. Nope.

I pulled up my credit reports and found no issues, and I was actually very pleased with my credit score. So,what happened?

I went back to the store and complained, and somebody probably thought “yeah, yeah yeah - sure, she has no credit issues”. Whatever. I CAN JUST IMAGINE WHAT THEY WERE THINKING.

They said they would have the manager call me and I walked away still feeling like an ass.

She was looking kind of dumb with her finger and her thumb In the shape of an "L" on her forehead.

But, the store manager finally did call and left a message for me and we played phone tag.

Meanwhile, I went to the competitor down the street. I was approved for above and beyond what I had intended. The generous line of credit far exceeds my home improvement project. But, I know from being in the real estate business and having to counsel clients that having a low balance on a hefty line of credit is a actually a good thing, so I am not complaining about the amount of credit being offered to me.

Today, I spoke to the store manager of the other store. I was eager to tell her just what had happened since I first notified her of my problem in obtaining a credit card from her store a few days ago. I told her where I would be doing business in the future. What is the moral of this story? I’ll let YOU decide.

The point is ...credit is tight. If you get declined for credit, you have every right to question it. In this case, I am convinced that this store is not opening new accounts or increasing anybody's credit line. And, they probably should not be advertising 0% financing on home improvement projects. I think I would have rather been told they are not opening up new accounts than having them go through the motions of getting me approved only to be declined and have the credit inquiry on my report. Was this bait & switch?

I Ain't A Snooty Realtor ...Because This Ain't A Glamorous Business!

Carol Culkin (Houlihan Lawrence Realty) — Mon, 23 Nov 2009 14:58:55 -0600

Upon entering into the real estate business, I had no idea about specialty markets. The firm I had started with was not exclusive to marketing any particular property type. Of course, I would have jumped at the opportunity to market luxury homes back then, but as a new agent I took whatever opportunities I could get and I didn't put my eggs all in one basket.

Years later, with many closed transactions under my belt - I still do not have a specialty market. It sort of reminds me of when I was in high school and I refused to belong to one particular clique. I just wanted to be friends with everybody.

Maybe this is why I find it easy to relate to just about anybody and why I am pretty good at marketing homes in every price range too. Perhaps it's because I have lived in many different social environments and had been exposed to diversity at an early age. The first part of my life was spent growing up in a new luxury home situated in a coastal community. From there, my parents moved out of state where they bought and renovated a big old distressed colonial home with potential. It was situated on the one and only nice block of a depressed city. It was there where I had to attend inner city schools. And, to this day, I'm still pretty street smart. I'll never forget the day when the girls from the low-income housing projects bullied me and then threw a punch. I saw stars only once and realized I had to become a little rough around the edges myself in order to survive, especially since I had friends who lived in their neighborhood.

Well, speaking about real estate and being rough around the edges ...I can market those homes too and I DO. The rough homes, that is. I have listed luxury homes too. I am not partial to either, as long as the sellers agree to list their properties at a price that reflects the condition. I can relate to those who live in executive neighborhoods as well as those who live in the low-income neighborhoods. If my parents did one thing right, they exposed me to all walks of life early on. By the time I got to high school we had moved again to another city where it wasn't so rough and we were once again living amongst the middle to upper class. Due to our relocations, I could just about fit in with any group. But, I would just as soon blow off the cliques then to join an exclusive group of snobby people. So, you see - I learned how to be friends with everybody and that became my gift.

Fast forward to today and the real estate business as I see it - some agents might turn their nose down at marketing foreclosures, short sales or distressed property. I know some agents who in a different market had branded themselves as luxury home specialists. They don't seem to have a lot of business these days. The luxury home market in my area is pretty much a stagnant one. Some of those luxury home specialists are struggling to sell in the modest price ranges now. I actually noticed that one particular agent has almost quit doing business entirely. I think she was in it for the glamour and perhaps she couldn't adapt or couldn't find it in herself to re-invent.

NO, there is absolutely no glamour in being a real estate agent these days, especially when you're listing distressed properties and working with people who are facing foreclosure or experiencing significant financial hardship. Most people who can't afford their homes cannot afford to even repair or improve their properties. And, forget about staging these homes. Sometimes we just have to list and market these properties as "fixer uppers" or "handyman specials" and hope for the best.

A long time to ago, my previous broker asked me to mentor a new agent Being of the female gender, I think it was natural when I paid special attention to how she carried herself. I noticed how she dressed impeccably, carried a Louis Vuitton handbag, and was driving a brand new shiny Mercedes. If I didn't know any better, I'd say she was trying to convince herself that she had perfected an image of what she wanted to be as a Realtor. But, could she walk the walk? Months later, things didn't work out. See, once the new agent got a glimpse of the real estate business as I was working it, she decided that it wasn't as glamorous as she had thought. Perhaps that's because in our travels I took her through multi-unit properties to meet investors. We would sometimes be showing properties in the middle of the afternoon while tenants sat in their rented apartments watching TV, smoking cigarettes and waiting for their checks. I marketed homes in modest price ranges where the homes were sparsely furnished and I knew that improvements were needed but the sellers could not afford to make repairs. And, also in her presence, I listed magnificent houses which were owned by highly educated professionals who were raking in big incomes. As a mentor, I tried to teach her that we have to take the good with the bad. Had she stuck it out long enough, she would have realized that today it's the distressed fixer uppers and the lower price ranges which fuel our local market.

So, I wonder what would have happened to ME as an agent had I made the decision early in my real estate career to specialize in the luxury home market. I wonder, had I not been exposed early on to all socio-economic environments if I would have survived in the real estate business at all. I have never been intimidated about showing multi-family housing to investors because I grew up in an inner city setting and played in those kind of neighborhoods. When I meet with sellers, I am not judgmental about people's financial situations because I remember what it was like once when I was growing up as a kid and my father was unemployed for a couple of years. I remembered how it felt to be 10 years old, the apple of my father's eye and so totally confused as I watched a wonderful devoted family man disconnect from me and the rest of the world. He was in that situation because of the downsizing of a major corporation and not because he was a deadbeat. He had to sell that old house halfway through the renovation project. I'm sure he gave the business to a Realtor who could empathize with his situation and didn't turn his nose down on the condition of the property. That's why I am not selective. And, thats' why my heart can ache for those in similar situations.

Yes, I do LOVE marketing and showing the stunning luxury homes that everybody dreams about. I love the paychecks these properties produce too. But, these days I can sell five modest homes in the time it takes to sell one luxury property. And, I can relate very well to all the many circumstances that surround those sellers and the properties that we as Realtors refer to as the "diamonds in the rough" - I was once a diamond in the rough myself. Actually, I lived in one too. And, I have lived in all types of housing - even the luxury homes. Yes, I've been on both sides of the track. And, the two most valuable lessons I have learned along the way is to "never forget where you came from" and "don't put your eggs all in one basket."

Luxury homes? Distressed property? I just want to be friends with everybody ...and, I think I AM.

With Good Income & Good Credit, You Can Still Buy A House With NO Money

Carol Culkin (Houlihan Lawrence Realty) — Fri, 20 Nov 2009 10:52:51 -0600

The other day a mortgage representative told me how it was done. The buyer only had seven cents to his name when he made the bold decision that he wanted to buy a house.

This is 2009, so the Realtor was certain it was impossible, but he referred the buyer to the loan representative anyway. If anything, the loan representative might at least be able to consult with the buyer, encourage him to save some money and devise a future plan for the purchase of a house.

The plan was put into place. It did not require the buyer to wait or save any money. The buyer had good income and good credit. He also had a mother who was willing to gift him $10,000. The plan also required a seller's concession. The seller contributed $12,000.

There you have it. ...The buyer bought a house with only 7 cents to his name.

Now, I'm not absolutely convinced. Sounds to me like the buyer entered into homeownership without any cash reserve. Will he be house poor starting out? I am sure he was delighted to get the keys to his new home. But will that happiness be short lived when costly repairs come up and there is no savings? What do you think?

It's Somebody's "Home" - You'll Need An Admission Ticket To Get In

Carol Culkin (Houlihan Lawrence Realty) — Thu, 19 Nov 2009 21:18:05 -0600

There's just something about a luxury home that brings out the curiosity in all of us. I guess my own curiosity can easily be satisfied as a Realtor. I have had the privilege of getting through the doors of some pretty amazing and unique properties. It's in the job description. And, included in that job description comes the task of screening buyers.

The phone rang. I was delighted that somebody was actually calling regarding my high-end listing that seems to have become forgotten inventory in this slow real estate market where luxury home sales are few and far between. The buyer wanted to see the property. So, I asked him a few questions.

No, he was not working with another Realtor. ...Fair game.

Yes, he would be financing a portion of a purchase. ...Okay.

No, he had not spoken to a mortgage representative. ...Hmmm.

No, he was not interested in getting preapproved for a mortgage. Road block.

Oh, and yes! ...I do want to sell this listing.

But .....

For good reason, the seller does not want a public open house and wants all buyers to be screened before viewing the house First, it's a large house and she does not have a staff of hired help to clean and prepare the home for every showing. She takes on this task herself.

The house is occupied by a family of five. It's not just a house for sale. It's somebody's home.

Oh, I shouldn't forget to mention that the sellers are publicly known, and they value their privacy and are very security conscious.

Yeah, the house has been on the market a long time but they are not desperate and will not change their minds about the showing instructions. Does it even matter that this is a high-end home and that the sellers are prominent people? Why would ANY seller want strangers parading through their home if they are not serious buyers? So, I follow the same rules for ALL of my listings. This is what sellers hire me to do. It's highly unusual for a buyer to be looking at homes and refusing to take the necessary steps to begin the process. But, occasionally we as Realtors come across bull-headed people. I'd rather not work with them. The pre=approval process is my only reassurance the people I am working with ARE who they say they are and won't be wasting my time or that of the sellers.

And, so I explained it as tactfully as I could to the potential buyer. He said he understood, but he still did not want to go through the process of speaking to a mortgage representative and doing anything that might lead to a credit inquiry. Well, I represent the seller. I told him so. I referred the buyer to another agent. I only work with pre-approved buyers - this is a policy in place for my own security too.

The lender pre-approval letter serves as an admission ticket. In this particular situation, the entire community is intrigued by this house. As much as the sellers and I want to get the property sold, buyers need to understand and respect our stance. There is a screening process. There is a good reason why there is no public open house scheduled. Sorry to say, the public is not invited. But, buyers who are serious enough to get pre-approved are always welcome.

Dutchess County - Not A Declining Market? ...Heard It Through The Grapevine.

Carol Culkin (Houlihan Lawrence Realty) — Wed, 18 Nov 2009 16:29:06 -0600

Is there good news on the horizon for Dutchess County homeowners? Two mortgage representatives told me this week in separate conversations that the Dutchess County area is no longer deemed a declining market by the lenders they work for. One rep was specific to state that the term being used now to describe the local market is "soft."

I don't think we'll see any robust changes in the near future. Up until now Dutchess County had been considered a declining market for the last 18-24 months. It may remain soft for some time., but this is a little better than declining. Have we hit bottom? Will the market turn around? Nobody has a crystal ball to really know for sure.

All I can say is that I have the statistics to back up what I was told. Something is changing and I think it's for the good, at least for homeowners. and perhaps not so good news for buyers still sitting on the fence. Click here to take a look at the market summary I posted a few days ago. Poughkeepsie Area Market Overview .

I Was Declined For A Credit Card ....And, I'm Feeling Like The Biggest Loser!

Carol Culkin (Houlihan Lawrence Realty) — Tue, 17 Nov 2009 22:20:26 -0600

The clerk at the customer service desk at Lowes Home Improvement Center handed me a message that was printed from her cash register.

We apologize but we are unable to approve your application at this time. You will receive a letter in 10 days explaining our credit decision.

I left the store feeling very embarrassed and scratching my head. Why? It sounded like instant credit would be easy to obtain. I've been on time with all of my payments and I am not maxed out on my credit cards. Well, okay there was that trip to Italy 6 weeks ago. I almost maxed out on one card, but I just paid that down over a week ago.

Then I stopped at the bank on my way home and talked to my personal banker. Of course, he suggested I use my bank credit card instead at a higher interest rate. But, this is a home improvement and I can possibly get 0% for 6 months (if approved). He also didn't realize that I could really pay outright for this project if I really wanted to. I just don't want to let go of my cash. I thanked him, explained my reason for not wanting to use THAT particular credit line and then I requested that he just check my accounts (checking, savings, credit cards, car payments and anything else associated). Could it be possible that there was a problem? Had any of my accounts been flagged? Is there a threat of identity theft? Nope. Nope. Nope. And, he then suggested that I go home and log onto www.annualcreditreeport.com

After 4 hours of getting booted out of the Equifax system I finally got in. It looked good. The credit score said GOOD. I then checked Trrans Union too. GOOD - almost VERY GOOD. Surprisingly, for a Realtor who makes a living off of commission sales in a bad market, my credit score was even better than I had imagined. So, what's the problem?

My personal banker informed me that there is so much tightening of credit right now that the stores probably don't have the ability to open up new accounts even for those who pose a low risk factor. Yeah, kind of like writing mortgages, huh? I took the opportunity to remind him that I am a Realtor and know all too well about this. But, even for smaller purchases there seems to be a credit crunch now. These days it doesn't seem to matter if you're a deadbeat or not. Having good credit doesn't necessarily mean anything anymore? People don't have to lend to you just because you have GOOD credit. Nor do they have to be eager to do business with you for that matter.

Well, this was a home improvement project I could hire a contractor to do. But, the problem is that contractors don't usually accept credit cards. I have to give this some thought. If I am going to have to pay cash for this project I'd rather wait and sell a couple of more houses so I don't clean out my savings account (I hate parting with my cash). Oh, and I guess I will hire the little guy who is trying to support his family instead of a national home improvement chain that doesn't appreciate that I have GOOD credit according to Equifax and TransUnion. The little guy will appreciate my business too and treat me as a valued cutomer. And, I'll feel good that he could buy his kids shoes and put food on the table. ...So long Lowes!

How Listing Prices Give Homeowners A False Sense Of VALUE.

Carol Culkin (Houlihan Lawrence Realty) — Tue, 17 Nov 2009 10:42:56 -0600

The typical listing appointment discussion:: So what do you think a buyer would be willing to pay for your home? I ask this question. I listen. I take a deep breath and then I give MY pricing opinion/strategy. I watch their jaws drop to the floor. Once again, the sellers are confused about list price vs. value. And, why is this?

...Looks like it's time for a little reality check.

It's been said that a man's home is his castle and it's worth more to him than it really is. That said, how did the homeowners arrive at their numbers before I arrived at their home with tons of documentation and statistics from all my time spent on preliminary research? As a Realtor, I'm positioned to give my pricing opinion which is always supported by documentation. But, before sharing I want to hear their thoughts?

...I ask them. HOW? How did they arrive at this number (which I know already, far exceeds mine)?

Usually the homeowner tells me that he saw other homes "listed" for sale in the community. Okay, so he understands the concept of comparing homes for sale. Good. They understand what they might be competing with. Great. But, there is more to it.

The process of pricing a home must be based on determining what a buyer might pay? Often sellers have no clue what area homes have SOLD for and confuse the listing prices of comparable properties with value. There is a big difference. Somebody else's inflated price cannot be the basis for neighborhood value, but often it is - at least, in the eyes of all the neighbors. It's a common mistake.

...It sure is hard to change somebody's mindset once they have become fixated on a certain price.

But, this is my job. When pricing a property, I have to insist that the homeowner look at what has SOLD.. Until the moment I walk through the door to meet with a homeowner, this information is pretty much a secret. Often there is a huge variance between original listing prices of comparable homes and the final sales prices. Pricing a new listing is all about monitoring what has recently sold rather than duplicating somebody else's failed pricing strategy of a nearby house that has been on the market for months and is not getting any action.

Continued discussion: You mean that house I thought was comparable to mine is really overpriced based on other homes which have sold? You mean I should list my house even lower, than the price I had been fixated on all along? And, then I should expect that a buyer would be willing to pay even less than the list price you are suggesting which leaves some room still for negotiation? Oh, I get it now. By doing this, the listing will appeal to a greater number of buyers too. Yes, I do appreciate that you want to list my house at a price closer to what you believe a buyer would be willing to pay, get it sold in a reasonable amount of time with the least amount of inconvenience to myself and my family. But, I was really expecting to sell at a better price...Hmmm.

When the mindset suddenly changes, I can see money flying out the window.

I watch the homeowner as he gives it much thought. Does he hate me now? I might have burst his bubble but at least I have been realistic. I don't want to mislead anybody. After all, we have to work together. Gosh, I hate to be the bearer of bad news.

A good agent sets realistic expectations and the average seller usually wants to see if he can exceed those expectations. Call it human nature. Some people might even call it greediness. Personally, I have seen many sellers shoot themselves in the foot by listing their house too high while their agents do nothing to discourage it. Many have had to chase after a declining market in recent years. and by doing this, they have taken a bigger hit later - after the reality check. So, this is why I try to encourage a reality check early on. The inflated prices of one, two, or three comparable properties should not be the basis of what a buyer will be willing to pay. And, the asking price of nearby active listings does not equal the value of YOUR home.

Continued discussion: Let's look at what I see when viewing a comparable property that has sold and try to understand the seller's pricing strategy: Original price, 1sr price reduction, 2nd price reduction, negotiation = SOLD. ...Now, this might equal your value. And, then again - in this declining market ...maybe not. And, after 208 days on the market was that a smart pricing strategy to begin with?

Hey Seller, This Is A Take It ...Or, Leave It Showing! ...What's It Going To Be?

Carol Culkin (Houlihan Lawrence Realty) — Fri, 13 Nov 2009 23:20:14 -0600

Agents! Did you ever feel like you need to negotiate with a seller BEFORE you even get through the front door with a potential buyer? Don't we do this all the time when we call to schedule showing appointments? How often does it happen that a seller tries to finagle a different showing time? Well, it happened to me twice today. And, I am still fuming.

Late this afternoon I called to make appointments to show 8 properties tomorrow morning and early afternoon. I consider this to be ample notice. I still don't have confirmation on half of the showing appointments, but the extent of my frustration is due to sellers who think I should accommodate their schedule.

I was expecting the listing offices to call back with confirmation and access information. Instead, the first call was a request for me to come at noon instead of the 10:30-11:30am time range I had tried to coordinate. "Let's see" I told the lady at the appointment desk at the listing firm representing the seller, "by noon I plan on being 3 towns away with this buyer." She was quiet at the other end. She understood when I told her that I have a relocating buyer who is only in town for one day and I am working geographically to cover as much territory as possible in the small window of time we have together and that all the other appointments were confirmed already and will not be changed (well, at least that was my goal). Basically, I told her under no uncertain terms that this was a take-it or leave-it showing. I continued with my rant. Poor lady. I told her how I understood that everybody likes to sleep in on a Saturday morning and if I had it my way I would too. However, this is the time my buyer requested to start out - and buyers are like gold these days so we must ALL be accomodating them. She promised to see what she could do. She pulled through. Moments later she called me back to let me know I was all set to go. Great ...but it doesn't end here.

This evening I received a call from a listing agent of one of the other properties I am trying to show in the same neighborhood tomorrow morning during the same time range. Well, there must be something in the water in this neighborhood. The listing agent explained that the sellers were contacted earlier in the day by her office for a showing appointment, but tomorrow won't work. She advises me that the wife is moving out tomorrow and there will be chaos. Huh? Well, I actually have two issues with what she was telling me. First, "the wife" is moving out separately from the husband? Can I assume this is a divorce? Now, I may be premature in thinking that this is THE house for my buyer, but now I am already planning my own negotiating strategy for this property. Shouldn't that remain a confidential piece of information between the sellers and their agent? Now I have useful in possible negotiation. And, back to not being able to accommodate us. Is it not possible to show the house anyway as long as everybody promises to stay out of the way? "Can you try to bring the buyer by next week instead?" Once again I had to explain that this is a take-it or leave-it showing ...the buyer will be in town for only one day. By the end of the night I still had not heard back from the listing agent for that property. I pretty much have written that one off.

If sellers want to sell their homes they need to make their places available to show when it's convenient to the buyer, sometimes even on a moment's notice. These were not last minute showing requests. The listing agreement/contract states that these sellers and their listing agents have agreed to cooperate with other agents to sell these homes and to even pay me if I can get the job done. But, they are not allowing me to do my job. In this challenging real estate market, it seems sellers are practically begging their listing agents to find creative ways to increase showings, get offers and get their homes sold. Yes, sellers are begging. And, beggars shouldn't be choosy.

Unable To Pay Your Mortgage? - Where To Turn To In Dutchess County...

Carol Culkin (Houlihan Lawrence Realty) — Thu, 12 Nov 2009 10:53:25 -0600

Hardship is running rampant these days. Everywhere I turn as a real estate agent I hear stories that bring me to tears. Many people are experiencing financial problems, unable to pay their mortgage and getting deeper into debt. Some of my past and present clients have confided in me about the feeling of shame and embarrassment they have experienced. Rarely do they talk openly to others about their financial problems and will usually treat this like a dirty little secret. And, most people don't know where to turn.

If you are experiencing financial hardship, the truth is that you are among many. Knowing this may not make you feel any better about the situation, but it should alleviate any embarrassment or shame. You are not alone. This is a sign of the times - 2009. And, perhaps talking to friends and family will help you get things off your chest. Hey, you never know who might be in a position to help you.

Last weekend I met a lovely couple at a party. She was about to undergo her last of several chemotherapy treatments for breast cancer. He had just experienced a third hospital stay since the beginning of summer after undergoing brain surgery. They hardly knew me, but they talked openly to our mutual acquaintances and were not feeling awkward about including me (a complete stranger) in that conversation. As I listened intently I realized that he has been out of work for several months, is behind in his mortgage payments, has credit issues and his bank won't give into his request for a loan modification.

I then told him I am a Realtor and suggested that maybe I could help by referring them to a good local attorney. I did not suggest that we talk about selling his house and I wasn't trying to move in for the kill as a real estate agent. See, he made it clear that he actually wants to STAY in his house where his children are most comfortable. All he wants to do is work things out with the bank. Oh, and he did also mention that he is still very good friends with the Realtor who sold him his house. They socialize on a regular basis with her and he asked me if I knew his friend professionally. I explained that I have talked to her on the phone a few times and I immediately knew I needed to respect that relationship.

I could have walked away thinking there was nothing to gain as a real estate agent. But, I didn't. I promised him that I would email the contacts I have to his friend the next day and he was receptive to the idea because the lawyer he had started to use was 3 counties away. I also suggested that he contact Cornell Cooperative Extension - a non-profit agency with representatives who might be able to help them work directly with the bank's work-out department. As, my attorney source tells me "lenders as a rule have come to realize that intervention during the delinquency and working creatively with the consumer who has the ability to pay in some way is better than a foreclosure". It's really worth the try.

My role as a real estate agent isn't always about trying to scrape the bottom of the barrel to find real estate leads and grow my business. It's not always about my own personal gain. I am always on hand to listen, even when I know I have nothing gain, I will at least try to provide a community service. A good Realtor knows that where to draw the line, when to just listen and provide advice - even if it's a FREE service. Real estate agents need to have a good mind for business, but a bigger strength is having the good heart to help others.

For Dutchess County residents seeking financial counseling FREE help and services are available at the Cornell Cooperative Extension - (845) 677-8223 ext. 119 ...click on the link below for more information.

http://www.ccedutchess.org/index.php?option=com_content&view=article&id=65%3Afamily-budget-education-program&catid=48&Itemid=89

Poughkeepsie Area Market Overview

Carol Culkin (Houlihan Lawrence Realty) — Thu, 12 Nov 2009 09:31:53 -0600

Local real estate statistics were recently published for October 2009. The market update below shows that closed sales and the number of purchase offers accepted are UP since last October, while the inventory of available homes for sale has declined. This is great news for sellers, and should serve as a caution for home buyers who are waiting to time the market. In fact, the average selling price has not even changed significantly since last year.

October 2009 Sales Statistics

SINGLE FAMILY DETACHED

Oct '08 Sept '09 Oct '09 1 Yr. Chg / %

Closed Sales 131 136 155 UP 18%

Average Selling Price 305,897 303,491 298,982 DOWN 2%

Purchase Offers Accepted 125 148 166 UP 33%

Average Days On Market 128 130 128 SAME 0%

Available Listings 2249 2074 2027 DOWN 10%

Source: Mid-Hudson Multiple Listing Service Inc (MHMLS). These figures do not represent private real estate sales. This report reflects the sales activity of MHMLS, which comprises the largest sales volume sampling.

Carol Culkin
Associate Broker
ABR, SRES

Telephone: 845.227.4400 Ext. 358
Direct Line: 845.430.6543
Mobile: 845.430.6543
Email: cculkin@houlihanlawrence.com
Website: www.carolculkin.houlihanlawrence.com
FOR TOP PRIORITY, YOU NEED A TOP AGENT!

Carol Culkin, ABR, SRES, Associate Broker for Houlihan Lawrence, is your source for real estate in Dutchess County. Carol is an award winning residential specialist and has been a Dutchess County top Realtor since 2002. If you are looking for a real estate agent who will be your advocate while providing you top priority service, call Carol today at 845-227-4400 x358 or on her cell phone at 845-430-6543. http://www.dutchesshomefinder.com/

Are Realtors Entitled To Take Time Off?

Carol Culkin (Houlihan Lawrence Realty) — Tue, 10 Nov 2009 19:23:00 -0600

This past weekend I received THAT call which always comes the way of a Realtor who has left to go out of town. The voicemail which I retrieved just after landing at my destination city was from a homeowner who wanted to talk with me about listing her house for sale. She wanted to know when we might possibly be able to meet.

Usually when this happens most homeowners are willing to wait for me to return a few days later. And, when time is of essence I will always recommend that the homeowner meet with one of my team members instead. In fact, a couple of months ago while I was away and this happened I matched up another agent at my office with a homeowner who was planning to sell and purchase. These two simultaneous transactions are closing this week and we provided exceptional service along the way.

Back to my mini-vacation. When I returned the call a few hours later, I apologized that I didn't have the chance to call back any sooner because I had been traveling that day. Immediately, the homeowner understood that I was out of town. Phew. I was quick to point out that I would be returning in just 3 days. This shouldn't seem like a bad time frame, considering most sellers are usually busy with a pre-marketing to-do list. Even when I am not out of town, I have had sellers request to meet a few days after that initial phone call. Often, they appreciate and understand that I will need to take a few days to do some preliminary research before meeting them and making any recommendations. Rarely, do I ever encounter a seller who wants me to drop everything and come right over to list their home.

But, this was different. It was apparent from talking to the homeowner that she didn't want to waste any more time - and, she told me she had already interviewed other agents. In fact, she would not even hear of my suggestion to send out a team member - I guess she wanted ME. ...Or, did she?

Something told me to not beg. I must have needed to get away really bad because I wouldn't even allow myself to waste the energy and plead for the opportunity. My knee jerk reaction would normally have been to discuss how waiting for me to return could be beneficial if I am THE best Realtor for the job or how working with a team member would give her access to all the right marketing tools of a top local real estate firm. Yes, I would typically talk about the marketing advantages, my track record, my credentials, and how my firm has the largest pool of buyers around But, this time that knee jerk reaction did not kick in. Yes, I fought it off. My mind told me to think seriously about working with a client who might not respect the fact that a Realtor needs to take vacation from time to time too. After all, many Realtors are overworked and burned out working in this market and those who can take a few days to get away can often tap into a new level of energy upon returning. Nobody wants a burned out Realtor.

Could it be possible that part of me felt a little bit insulted at the implication that I might not have been entitled to a get-away, or insisting I didn't deserve a chance because I left town for just a few days? Did she maybe think that because I took a vacation I am any less of a Realtor? On, the contrary. While I was away, I actually put together a deal involving multiple offers on one of my listings. Who's to say I couldn't have done the same thing for this homeowner in the very near future IF I had the chance? But, now she will never know. And, neither will I.

I might have tossed and turned that night but I returned home last night - refreshed. Perhaps I lost some new business. But, if all I lost was a client who seemed a bit surprised that this Realtor takes occasional vacation time ....well, I guess I didn't lose out on much at all. The real estate consumer doesn't always understand that just as a homeowner might interview different agents, Realtors can also be selective about taking on any new business. No, I did not aggressively pursue this opportunity, because I think there will be better opportunities ahead with sellers who care that I am human. I even convinced myself that this is probably one of those listings I wouldn't have wanted. And, just to confirm this, I watched the listing come up on the local MLS hotsheet today as an overpriced property that is in dire need of a stager.

Maybe, if I play my cards right I won't be on vacation when this listing expires in 6 months and by that time perhaps the seller will be a little more reasonable and realistic. For now, I will let another agent have the pleasure of managing this listing and talking the seller down in price until he/she is blue in the face and probably needing a VACATION too.

Are You Decorating Or Devaluing Your Home?

Carol Culkin (Houlihan Lawrence Realty) — Sun, 01 Nov 2009 13:44:28 -0600

Once a buyer purchases a house and becomes a homeowner there is usually a lot of time, money and thought that goes into personalizing the property to make it feel like a home. By, adding decorative touches a homeowner begins to gain more and more pride. A little creativity can go a long way and sometimes it can go too far.

I have seen new homeowners turn decorating into a hobby with very little assistance from a professional interior designer. The results can be disastrous. Eventually the novice homeowner decorator becomes so passionate with their new hobby that he/she begins to lose sight of what others see.

There is such a thing as over-decorating.

Before a homeowner puts too much thought, time and money into a do-it-yourself decorating project, he/she should always be cautious about what they are doing because the end results can diminish a home's value when the time comes to sell. Buyers looking at resale homes are often turned off by too much furniture, clutter, bold or dark interior colors ...and houses that look a little too lived in.

So, before as you pick out that trendy paint color, before you pick up that paint brush and before you buy too much ornate furniture to clutter up your home - ask yourself, ....Are You Decorating Or Devaluing Your Home?

Daylight Savings Time - Spring Forward, Fall Back ...And, Happy Halloween

Carol Culkin (Houlihan Lawrence Realty) — Fri, 30 Oct 2009 01:44:30 -0500

The weather forecast shows a wet, rainy, but warm Halloween is expected in the Mid-Hudson Valley and Poughkeepsie are. Hi 69 / Lo 42. It might turn out to be the first rainy Halloween night since I moved into my house 10 years ago. I can track the weather back that far because each Halloween I set up a table outside on my driveway and serve donut holes and cider to the trick-or-treaters. It's great to see all the neighbor having fun and to chat with the parents too.

If it rains this year I might need to set up shop inside my garage or forgo tradition all together.

And, after the trick-or-treaters are done collecting their loot, the next thing I'll be doing this year is setting all my clocks back.

Remember, Daylight Savings ends at 12am on November 1st. Yes, and it will be getting darker sooner now ...that means one less hour of daylight available each day for Dutchess County homebuyers to be looking at property. Well, we can always bring a flashlight to look around outside I guess Heck, I'm not afraid of the dark. Are you?

Will The Home Building Industry Ever Recover?

Carol Culkin (Houlihan Lawrence Realty) — Thu, 29 Oct 2009 22:54:36 -0500

This was the million dollar question being tossed around the other day when I was talking with a home builder. I just started working with him to locate some foreclosed properties with the possibility that he will flip a few houses while he waits for the home building business to recover.

Will it? ...Ever?

This is one of two custom luxury home builders I am working with currently, both are considering flipping homes. They are both in a holding pattern while they are not getting requests for new construction and are afraid to build on spec because high end homes are lingering for so long. In the Hudson Valley it is not unusual to see a high end home sitting on the market for 3 1/2 years. The few recent sales in the upper price ranges have all been drastically reduced before they were sold. Recently an increasing amount of short sales and foreclosures have turned up in the luxury home category.

A luxury home new build in the Hudson Valley starts at around $500,000. A modest new construction home without all the whistles and bells starts at around $350,000. These numbers are significantly lower than a few years ago, And, even with prices declining like they are, very few buyers are shopping in the luxury home price range. However, our local market is thriving in the lower price ranges - be it new construction or resale.

I told my builder client that $300,000 is now the new high end for our market. This is not news he wanted to hear, but I' know he can appreciate my honesty, especially because I agreed with his decision to stay in a holding pattern and flip houses for the time being.

As we talked, he explained his goals for a profit margin and his dilemma. While housing prices have decreased significantly, land values have stayed the same. The average cost of a good building lot in Dutchess County is $150,000. That leaves him with very little profit after considering his cost to build and paying a Realtor to market and sell the property.

I explained to him that from where I sit, there is an even bigger dilemma. Baby boomers are now buying down. No longer do they need that big house. And, Generation Y buyers are the first generation since the day when our parent's were first time home buyers to approach home buying in a very conservative sort of way. These kids see the news everyday and it scares them - people loosing their jobs, the economy is in turmoil and there is an increasing amount of foreclosures. It's drilled into those young little heads, if not by their parents or real estate agents, then by the media. They have become smarter than their parents, and have learned by their parent's lessons - to not overextend.

Will the home building business ever recover?

Well, maybe it will. But, the real question is - will the demand ever be so high again for luxury homes? I don't see it happening any time soon. Not as long as Baby Boomers are simplifying their lifestyles and their children and grandchildren are learning by the mistakes from the past.

So, my advice to any custom home builder with a luxury niche? Reinvent yourself. Forecast into the future. What will people be looking for in new construction? Just like many Realtors have had to develop new niches like short sales and forclosures instead of relocation and high end sales, so should homebuilders - because right now that modest cape cod my parents once owned is the hottest commodity around. I even wonder if we'll be seeing more and more of these charming little things replacing the McMansions when it comes to new construction.

I'll Show You Mine, If You Show Me Yours....

Carol Culkin (Houlihan Lawrence Realty) — Sun, 25 Oct 2009 16:12:39 -0500

I don't mean to disappoint you with the above title. I'm talking about pictures. Yes, I'll show you mine if you show me yours. No silly, not those kind of pictures. Seriously, as enticing as the title might be,, this is a real estate blog and I am talking about real estate marketing photos.

I'd like to see some photos of that house you are trying to market.

See, I have a buyer. As we search the MLS and internet together for listings, we are overlooking the fine features of that home which you are making an ill attempt of marketing online. If what I am saying applies to you and you are a real estate agent then you are lazy and providing a disservice to your client. If you are a seller whose property is not being promoted with multiple interior photos then you should consider firing that lame, no good real estate agent and hiring somebody else who will appreciate your business and put some time, creativity and thought into your marketing.

I have a buyer....I'll show you my buyer ....all you have to do is show us some pictures of the interior of that house first. It's that simple. Downloading photos to a computer is as easy as 1-2-3. And, perhaps if my buyer likes what she sees from looking at the photos of the home you're marketing online, she'll want me to make an appointment to tour the house in person.

I'll show you you mine (my buyer) if you show me yours (your interior photos)...

I Should Have Used My Library Voice Instead Of My Walmart Voice.

Carol Culkin (Houlihan Lawrence Realty) — Thu, 22 Oct 2009 13:20:38 -0500

I just love when I randomly bump into past clients and we are able to take a few moments to get caught up. How's the new house? Did you get it all decorated the way you had wanted. Have you met the neighbors? Are the kids adjusted and do they like their new schools? It's always reassuring to know that my past clients are very happy in their new homes and it gives me great satisfaction in knowing that I played an integral part in that happiness.

I ran into a past client last week. She called out my name as I was racing down the aisle at Walmart, of all places. I rarely shop there and I had no intentions of going to Walmart that particular day but my husband and I made the spontaneous decision to stop in briefly to pick up some laundry detergent on the way to see a movie that was playing at the theatre across the street.

His cell phone rang and he was so engaged in conversation that he started pacing the aisles and before I knew it ...he was gone. Pressed for time, I became a little frantic and annoyed as I walked half-way across the store looking for him. I finally found him. And, then I found myself scolding him like he was a child.

Um, Where were you?? ....... I, uh...was talking on the cell phone and, uh...

Did you have to walk away and leave me wondering where you were?? ..... oh, well I uh....

That was totally rude ......

And, then a sweet little voice called out my name. ...CAROL???

Oh, my gosh! It was the sweet little buyer client who I helped purchase a home just a few months back. And, she is the reserved type too. Being that I am a chameleon, I adapted to her personality as we worked together to find the perfect place. We must have looked at about 20 different properties together and during the entire time I don't think either one of us let down our guard. It was a strictly professional relationship. but in the end I got to know her somewhat and I really like her. She was a nervous first time buyer, a single woman who was buying on only one income and she was scared to death. So, I tried to be light-hearted during the process and occasionally got her to laugh, but I always had to use my library voice with her because I didn't want to scare her any more than she already was.

So, here we are standing in Walmart months later ....and she caught me scolding my husband and bickering with him. I was embarrassed when she called out my name and I instantly found myself transforming back to my library voice. Oh, well ...the deal closed months ago, I confirmed that she's a happy homeowner now ...and perhaps she has finally seen the human side of me. I hope I didn't scare her out of ever getting married.

Walkway Over the Hudson State Historic Park

Carol Culkin (Houlihan Lawrence Realty) — Sat, 17 Oct 2009 10:07:11 -0500

The Walkway Over The Hudson is a story of a community that came together to rescue a landmark bridge. The old Poughkeepsie - Highland Railroad Bridge was abandoned after a fire in 1974. It sat for decades deteriorating because it was too expensive to tear down. On October 3rd, 2009 the restored bridge was finally opened to the public. Take the walk and you will see how obvious it is that this river community is so very proud of our new Walkway Over The Hudson, but be sure to bring your sneakers - it's 3 miles to walk from one end to the other and back (1.5 miles each way).

For a better glimpse of the bridge on fire in 1974 click on this link: http://www.catskillarchive.com/rrextra/pbpj743.Html

I visited the Walkway Over The Hudson this week and had the chance to experience the beauty of the Hudson Valley during the prime time for fall foliage - while standing directly above the Hudson River. I am pleased to be able to share my photos below.

This recycled 120-year-old Poughkeepsie-Highland Railroad Bridge is now considered to be the world's longest pedestrian bridge.

Fred Schaefer is a local Poughkeepsie real estate attorney who I have had the pleasure of working with during my real estate career. I remember a few years back there had been a couple of different functions within the same month where Fred approached me and several other real estate agents - he couldn't stop talking so enthusiastically about the development of the bridge. Funny, I just could not see it coming together like it did - and, now today it is just as he had described. Yes, at that time I had my doubts. Fred offered to take us up to the bridge for a sneak preview - I had concerns about the structural integrity and graciously declined. No way was I going to go up there on that old relic! I was convinced the deteriorating bridge would crumble and I would fall to my death!

Fred continued to pursue his vision and successfully spearheaded this project which has even been featured by the NY Times. http://www.nytimes.com/2009/04/25/nyregion/25metjournal.html What a wonderful legacy!

For more information about The Walkway Over The Hudson and for frequently asked questions click on the link below: http://walkway.org/

For more information about the history of the bridge click on this link: http://en.wikipedia.org/wiki/Poughkeepsie_Bridge

This is the view of Poughkeepsie from the Highland side of The Walkway On The Hudson (1.5 miles away)

This is the view of the Mid-Hudson Bridge from the Pedestrian bridge ,a.k.a. The Walkway on The Hudson

Sellers: Do You Understand The Mindset Of Employee Relocation?

Carol Culkin (Houlihan Lawrence Realty) — Fri, 16 Oct 2009 11:35:36 -0500

Dear Carol, I look forward to my house hunting trip this upcoming weekend. I'll be in town for three full days but much of my time will be spent meeting with directors of the new division I will begin working for next month. Therefore, I have limited time to view property ....

I have selected these 10 listings as my top choices for my price range......

Sellers - Do you understand the mindset of a buyer who is moving to your area due to a corporate relocation? Maybe you are also selling your own home to relocate to a new town for a new job. All the more reason why you should understand the process of selling your current home.

Your house needs to be perceived as one of the top 10 appealing choices of homes available in your price range.by buyers (and their agents) who are shopping online and viewing your listing. If not, buyers and their designated agents will pass over your listing time and time again for more attractive properties. Most buyers don't even bother clicking on listings on websites like realtor.com if there are not multiple pictures to view. Who has that kind of time to weed out their options in person?

A corporate relocation involves an employee starting a new job with only a small window of time to look at properties. Even if the corporation provides the employee with temporary housing at their new destination it's usually limited to only 30-60 days, meaning they have to find a house fast so that the closing can be scheduled before their deadline expires on company paid housing.. I know this because I've relocated 5 times as the spouse of a relocated employee. I have worked for a relocation company. And, I am a Realtor who has been specializing in corporate relocation for a number of years now.

The employee starting that NEW job in a new town is focused on acclimating to the new company environment and answering to a different boss. This requires the employee to be very dedicated and committed in the beginning, giving their all while learning the ropes. This employee usually works long hours during the transition, jumping both feet into their new position and trying to make a favorable impression. This means there is limited time for house hunting.

These are not always corporate executives looking for executive style housing in posh neighborhoods. Often, it's the middle management empolyee climbing the corporate ladder and a lot of times the company is buying their current home so they have nothing to sell and a limited amount of time to select their new house. They can usually close in 30-60 days . These are the most motivated individuals in the buyer pool. They come to town for a househunting trip prepared to purchase - today! And imagine, some sellers can't even get these buyers to walk throught the door!

During a preliminary home search, buyers weed out their choices based on what they see online while comparing listings which have photos. And, as far as the buyer and their agent are concerned, the goal is to be time effective. Nobody likes to be unproductive with their time these days. Quality pictures, professional staging and precise pricing are key in attracting these very serious and motivated buyers.

"Show me ONLY the best houses in my price range" - the mindset of a relocating employee

If your house does not have great pictures with an inviting curb appeal and an attractive interior decor, you won't stand a chance, unless you price your house to compare with other properties that look just like yours online. Can you afford to reduce your price to compete? If not, call a stager.

To understand how your house compares to the other homes on the market you must be objective and think like a buyer. This involves YOU - shopping online and comparing your property to the competition. It's an old adage in the business world - always know your competition. Treat you home sale like you mean business and you will get results. This means detaching emotionally.

If you shop online and see that your house cannot compete in your price range you have two choices. 1) Lower your price to compete. 2) Call in a stager to spruce up the decor and curb appeal.

"Show me the money" - the mindset of a seller who has followed my advice and has received AND accepted an offer.

RELOCATING? CALL CAROL 227-4400 ext. 358 SPECIALIZING IN DUTCHESS COUNTY RELOCATION

Carol Culkin, ABR, SRES, Associate Broker for Houlihan Lawrence, is your source for real estate in Dutchess County. Carol is an award winning residential specialist and has been a Dutchess County top Realtor since 2002. If you are looking for a Dutchess County real estate agent who will be your advocate while providing you top priority service, call Carol today at 845-227-4400 x358 or on her cell phone at 845-430-6543. http://www.dutchesshomefinder.com/

STOP! Please Don't Shoot Me ...I'm Just A Realtor Trying To Sell A House.

Carol Culkin (Houlihan Lawrence Realty) — Thu, 15 Oct 2009 18:15:35 -0500

Somebody was shooting at my car. I couldn't figure out where the bullets were coming from at first. And, I couldn't exactly figure out what part of my car might had been subjected to multiple bullet holes. All, I knew was that I had to get out of there.

Maybe I've been watching too many action movies? Maybe my mind is working overtime. But, I heard gunfire and it scared me to death.

I didn't know if I should run for cover or high tail it out of there. After all, I wasn't in a crime ridden area but when did that ever stop somebody from committing a crime?

It was a very windy and gloomy fall day when I pulled up at one of my vacant listings. The fall foliage is so beautiful this time of year but on this particular fall day the leaves were falling fast and furious. It felt like the rain that had been forecasted was only minutes away. After driving up the steep narrow driveway leading to the house, I parked in the section of flat pavement which is surrounded by big oak trees.

Oh, there is something very unique about this woodsy little parcel and despite the weather at the moment I couldn't help but drink it all in as I pulled up. No, I wasn't literally drinking or tipsy. I actually did hear what I believed to be gunfire as I had shifted into park and took the key out of the ignition. POP.

Hunting season? Maybe. But, this is a residential neighborhood even if the lot is nicely secluded.

I ignored the first POP. Perhaps it was my car. What mechanism might that be? The contractor who was there to give an estimate pulled up in his pick-up as I was getting out of my car. A burly man. I thought maybe I would ask him for input about auto mechanics. He parked on the hill behind me, so by now I was blocked in. POP POP POP POP POP.

Oh, my! It's clear to me ...that is not my car making these noises. But, something was actually hitting my car. Hard, Loud. Fast. Forceful. POP POP POP POP POP.

Gunfire? ....I gotta get out of here.

I looked at the contractor who was still in his car and totally clueless to my concerns. POP POP POP. Will I be able to get out of here alive? Who was shooting at me? I'm just a church-going Realtor who helps people buy and sell houses and as bad as the real estate market has been I have never been involved in a deal that would result in anybody causing me physical harm. And, I'm not a mafia princess. Gosh. I have a squeaky clean background. There's not even a speeding ticket on my license. Why me?

I looked up to the sky. What was I looking for up there. God, please help me.

That's when I finally realized I needed to high-tail it out of there - fast. I yelled at the contractor as he got out of his pick-up. ..."Please back up ...I need to get out of here fast ...and park my car on the street below" - and, I pointed down the hill. "Fast". He looked a bit bewildered, but quickly understood.

On this very windy day, acorns were falling from those big trees above and this was a situation that was sure to do a number on my car (and his too).

So, I've been wondering ...where's that nutsy little Active Rain squirel when you need him?

She's Baaack! Getting My Feet Wet In The Rain.....

Carol Culkin (Houlihan Lawrence Realty) — Tue, 13 Oct 2009 10:34:41 -0500

For those who had been following my situation and have expressed concerns - ALL IS WELL. My mother is on the road to recovery and my parents are now settled in, living comfortably together again in their new apartment at a wonderful independent/assisted living facility. The personal experience has strengthened my understanding for working with seniors under similar circumstances and I was able to apply all that I had learned while getting my own SRES (Seniors Real Estate Specialist) designation a few years ago.

While I was gone for several weeks taking care of my parents who live 3 ½ hours away, I made short trips back home with a weekend here or there. And, even though I could remain semi-active as a Realtor via technology, I had to put family obligations first. I took a little sabbatical from Active Rain and scaled back on clientele, giving the business to other agents when in-person consultations were needed. I continued working mostly with those who I could fit into my schedule and had respected all that I was going through at such a difficult time.

Yes, I finally learned to identify and eliminate the time-wasters, a strategy I always had a problem testing. When you have limited time, you learn to make better decisions about people early on and take chances that some business opportunities are not always going to pay off.

During the time I had been so dedicated to my parents, I also had to cut back on every day real estate activitiess which were becoming all too time consuming - blogging being one of them. I missed spending countless hours on the Active Rain network, not only posting my own stuff but reading and commenting on the blogs of other members. I really missed all my friends in the AR network. Active Rain is a very informative website for consumers and real estate agents as well and so I have always found it to be very addicting. So much, that my normal everyday activity here on Active Rain had caused me to lose a good two hours or more a day. As a full-time agent that means I was giving up personal time and not paying much attention to my husband, my house, my dog. Seriously, there is only so much time in one day.

I know it seems a little extreme, but I always felt obligated to read each and every post of the members who I have subscribed to, while trying to keep up with others which appeared rich in content. I kept subscribing to new members over time, some who post once or twice a day. It was getting overwhelming, to say the least. It made me wonder how some members here even have a personal lives of their own.

I am back. I'll become active again on Active Rain but perhaps not as much as in the past. I plan to start out slow by spending only a half hour each day here because at this point, my time has to be spent on building my business in other ways too - and, reconnecting with the other members of my family who I had to leave behind for many weeks while the focus was on my parents. Yes, I'm back! But, I may only be getting my feet wet in the Rain for right now. A little here and there. Please bear with me....

Oh, and yes ...that's my beautiful grandaughter!

I'm Not Lost And Gone Forever....

Carol Culkin (Houlihan Lawrence Realty) — Mon, 24 Aug 2009 05:37:30 -0500

I know it might seem like I just dropped off the face of the earth. I have been a habitual blogger up until recently. Not deliberately, I just quit Active Rain cold turkey a few weeks ago. Then, around the middle of last week I tried to jump back into the Rain. I started out slow by just catching up on reading and commenting on a few posts by my favorite blog buddies. I figured it would take me a few days to get caught up on commenting before unleashing my own creative juices. Perhaps I just needed some inspiration from others. It's hard to get creative when you've been inactive on Active Rain for so long.

Actually, I've had so many other things on my mind this summer and I've also been traveling a lot. I wish I could say my travels have been related to vacationing. But, I've speant a total of about 6 weeks this summer tending to my elderly parents who live out of town and are dealing with a health crisis.

Just as I thought their situation had stableized and I was gradually starting to get back to Active Rain and to my real estate business, one night during the middle of last week my phone rang at 2:30am. And, for the second time this summer my world began to spiral out of control.

My mother had already been re-admitted to the hospital 5 days earlier and at the time I had arranged to have my father placed into an assisted living facility while she underwent diagnostic testing. On Wednesday of last week the hospital called me while I was leaving Washington DC after a brief visit with my daughter and granddaughter (and blog buddy Pat Kennedy). With all the tests coming back inconclusive, they were considering releasing my mother a few days later and sending her to a rehab facility where she could get physical therapy and become stronger. Then, in the middle of the same night after I no sooner arrived home and fell asleep - I was awakened. The doctor on the other end of the phone explained that my mother was transferred to ICU after having a mini-stroke,

So, what would cause me to take a break from Active Rain? Let's just say that I am putting my Senior Real Estate Specialist (SRES) designation to work - personally. Lately, my time has been speant checking into senior housing options for my parents and dealing with repeated hospital stays along with extended respite care periods in assisted living facilities for my dad. I am now looking for a more permanent housing situation for them and I am learning a lot about senior housing options, specifically the differences between independent living and assisted living.

Fortunately, my mom's mini-stroke was just that. Nobody can tell she has had a stroke (TSI). But, the doctor informed me there could be others to follow this one. Having the responsibility of a house and caring for my dad has probably taken it's toll on her. And, now her own health issues need to be taken into consideration too.

For right now, my mother's needs are minimal and the best housing option for her is independent living. On the other hand, my dad needs a stepped up level of service which typically my mother can provide if and when she's on her feet again - for now he needs assisted living. Ideally, downsizing to apartment type housing in a facility that offers both independent and assisted living seems to be the best solution.

So, I am back to hanging out in my hometown again - tending to my parents and shopping for the right place to call their permanent home. I think I have found THE place. I will take my father there today to get his final approval before switching him to a new place - it has to be a place where my mother can transition to also without feeling like she is giving up too much of her own independence.

By the end of the week, I hope to have my dad settled in at the new place where he will wait for my mom to join up with him after her hospital stay and rehab. Putting their house up for sale can wait for now. The nice thing is that we can arrange a month to month lease which will allow us to ensure their happiness.

I hope to return home next week, not only ready to put my SRES designation to work for me again - but, to use my personal life experience to guide others who are no longer able to age in place. And, hopefully it won't be long until I am a regular hear again on Active Rain. I'll be back soon - I promise!

It's Eleven PM ....Do You Know Who Your Neighbors Are?

Carol Culkin (Houlihan Lawrence Realty) — Wed, 05 Aug 2009 13:28:55 -0500

My clients were just beaming yesterday when they told me they were heading to greener pastures. They are moving to an area of the country where you can actually buy a nice luxury home for only $250,000. When they described it, I imagined the same house here selling for around 500K. Wow, no wonder they were so attracted to this place. Seems tempting enough for ME to even consider migrating to. It just so happens that my clients are retiring in their late 40s due to health reasons and they needed to relocate to an area of the country which offers up affordability and warm temperatures.

Later in the evening I was telling a friend about this. "Seems to be a nice place to consider retiring to", I told her. My friend had a concerned look on her face. She looked at me as if I had two heads and immediately dismissed this as being a desirable place to live. She had recently been out of town on business in THAT city.

While staying at an area hotel during her business trip, she met a nice man by the pool and they began conversing. Soon she realized she was casually speaking to an FBI agent who told her WHY he was there on business too. It's become the latest area for under-cover investigations. With the rash of foreclosures, the affordability is also attracting many gangs and criminal activity to the many nice luxury home communities. Apparently, as so many people in this economy are considering relocating to more affordable housing markets, so are criminals flocking to these areas too and taking up residence.

Imagine, you move into your dream house - a gated luxury home community where your children or grandchildren will be playing in the streets. The neighborhood is beautiful enough to be a scene from a movie set. A safe haven seems to surround you. There is continuity around you. For all appearances, it seems like a prominent community. Except, your neighbors are a little shady. They don't earn their money the same way you do. In fact, they might not even have a mortgage because blood money is what contributed to the cash purchase of their home.

Ooops, one thing you might not have known when YOU purchased - that house up the street just sold too ...for cash ...to a notorious gang leader. And, the members are meeting right there every day on a regular basis.

Greener pastures? Sometimes the grass only appears to be greener on the other side of the country. Or, in this case maybe there is no grass at all, perhaps it's just a mirage.

My Final Farewell ....I've Been Mouning A Loss ...Don't Worry, I'll be Okay!

Carol Culkin (Houlihan Lawrence Realty) — Tue, 04 Aug 2009 10:55:26 -0500

Oh, I miss you. It felt like a lifetime, when in reality it was just a few short years. We spent countless hours together every day and there were many late nights too. Sometimes I would tip-toe into bed in the wee hours to avoid waking hubby. If he only knew what time it was. He was very jealous of you. See, he knew all about our business relationship but had a hard time accepting all those late nights in the office. When it turned personal, he REALLY got annoyed.

From the beginning, you made it very easy for me to get to know you. I immediately grew comfortable sharing very intimate details with you. It helped that I felt an instant comfort level. Oh, I loved you so!

Amazingly, after a few late nights together, I became more and more passionate about my work. Was it work, or YOU? But, now that you're gone work is not as fun much anymore.

I remember how you were so responsive to my touch. I quickly learned of all your secret little places. Oh, how easy you were to get to know. Eventually, I would turn to you first thing in the morning. I couldn't wait to turn you on. And, at night I would find it hard to part ways with you. We became inseparable. I just couldn't get enough of you!

Then, one day you just died. There was no advance notice. The tragedy is that you were only middle aged. I thought we would still have a few more years together. There was so much more I had hoped to accomplish with you. It's hard to believe I won't have you to turn to anymore.

I think I'll be okay. I've found another but it was hard to move on and things just aren't the same.

See, I can't seem to find all those secret little places on this new computer. I am having a hard time getting to know it like I knew YOU. After many days and late nights together I'm just not sure if I will ever feel the same way about this one. It's a bit more complicated this time around. Oh, how I miss you.

Negative Home Equity? Feeling Like A Ball And Chain To Your House?

Carol Culkin (Houlihan Lawrence Realty) — Mon, 27 Jul 2009 15:32:16 -0500

So, you need to sell your house? Okay, maybe you don't NEED to sell, but maybe you want to sell. For whatever reason, you're selling - because of a job opportunity resulting in relocation, a divorce, a lifestyle change, your retiring or perhaps getting remarried. But, wait. What happens if you owe the bank more than what a buyer is willing to pay? Do you wait to sell? Why put your life on hold and be miserable?

To sell, do you NEED to get X number of dollars just to break even on what you owe the lender?

Of course if you sell below the loan amount, you'll have to pay your lender out of pocket at closing. It's called negative equity. Even if you aren't in a negative equity situation, you still need to pay the fees and expenses associated with selling your house. So, you're crunching the numbers and things just aren't adding up. It looks like you will not have proceeds left from the sale to pay the expenses associated with selling (transfer tax, broker & attorney fees). You might not even break even. Now what?

Go ahead, apply pressure. Just tell your Realtor you NEED X number of dollars - and, to work his or her magic. But, your Realtor is telling you that a buyer does not want to pay X number of dollars in this market. Don't shoot the messenger. Your Realtor will probably not be able to pull a rabbit out of a hat. It's the market, not your agent. You need to give consideration to what other homes are selling for, how many other properties you are competing with ...and, you have to understand that in order to sell - what you REALLY NEED is to price your house competitively.

What you NEED - might not be what a buyer is willing to pay.

This might seem a little insensitive, but a buyer really does not care what you OWE. So, now what do you do? Put your plans on hold? Postpone your life as you want it to be? Perhaps there is a solution. But, you have to WANT or NEED to sell bad enough. Just how motivated are you? Are you motivated enough to take a loss? What - you don't think you are in a position to do so? Think again.

Can you be creative?

Do you have other investments? Do you have money set aside in a savings account? Is there a retirement account you might be able to tap into early? Do you own stock? As a Realtor, I once had to be creative and daring enough to tell my unemployed single homeowner that he should probably sell the Mercedes that was sitting under cover in his carport because it was January and he only drove his winter rat during the snowy months to keep his trophy car in mint condition.

A few months ago, another seller who had his house on the market way too long, came to me and told me his strategy for dealing with his negative equity situation. There were no assets but he had great credit. He was financially strapped. The only way out of the mess was to sell at a loss and use his good credit to apply for a loan which would pay off the negative credit at closing. The monthly payment on a $25,000 loan was a small fraction of what he continued to pay each month for this vacant house. Don't have good credit to be able to implement this strategy? How about borrowing from a family member?

Can you borrow from Peter, to pay Paul?

Let's face it - by now, everybody has lost money in every market. Real estate was just the first market to be hit in this national economic disaster. But, those caught with negative equity who placed all their eggs in one basket (their personal residence) are feeling it the hardest. It's like being placed under house arrest as one blogger describes it. Judy Chapman, REALTOR® ~ Short Sales / Luxury & Lake Properties (Coldwell Banker Residential Real Estate) summed it up so eloquently when she wrote a post titled Homeowners Under House Arrest - it's a sad but true dilemma.

In Judy's post, broker Bryant Tutas Broker/REALTOR(R) Tutas Towne Realty, Inc explains from personal experience how sometimes there is money that can be paid at closing when one has to take a loss on sale. Yes, sometimes we have to cut our losses to be able to move on. Sometimes we even have to be creative. Unfortunately, not everybody is positioned financially to do this because the one and only investment is - THEIR HOUSE. No money in the bank, poor credit, no rich uncle.

Can you rent that property? Perhaps you might need to become a landlord to be able to move on.

When, there are no options the homeowner and the home are like a ball and chain. There's resentment and the house becomes an unhappy place.

While more and more people are finding that putting their eggs all in one basket is a very poor investment strategy, others are realizing that there are options. They've found solutions. And, those buying homes today are hopefully learning that it's okay to live modestly to be able to save wisely for the future. Perhaps it's a lesson learned too late for many. But, I sure hope most of us can learn from mistakes made in the past.

Nobody should feel like a prisoner in their own home?