Keith Pate's Blog

The Hamptons at Umstead - updated.

Keith Pate (Coldwell Banker / HPW) — Wed, 20 Jun 2007 16:13:04 -0700

Here is the latest and greatest update on this outstanding community located in Raleigh, North Carolina.

Reserved lots are: 21, 23, 24, 25, 33, 40, 41, 129, 132, 133, 136, 171, 180, 181, 182, 183. Lots in Phase I have been rated but the developer has not yet priced per grade level. The grading (by heavy of equipment, not for pricing) should be complete in Phase II in a couple of weeks. After that we'll rate those lots.

There are 215 home-sites in this community. Lots vary in size from .29ac to .89ac. There are several basement lots available. Homes will begin around the $800,000 price point. There is city water/sewer and natural gas available. Community pool on site but no tennis courts.

Any website design recommendations?

Keith Pate (Coldwell Banker / HPW) — Tue, 05 Jun 2007 19:32:07 -0700

A few months ago I had a website designed for me. I spent lots of money but am not thrilled with the results. Now, don't get me wrong, this person did a good job but something is missing.

I was reading a blog about a great person who does website design and SEO. I contacted this person and she gave me a few pointers about my website. Since then, I have emailed her several times and have had no responses. Maybe she has a lot to do, I don't know.

So, I would like to hear from anyone who can recommend someone reliable and reasonable who will take an existing real estate website, spruce it up, and get RESULTS!!

Thank you for your help.

Do you have to submit all offers?

Keith Pate (Coldwell Banker / HPW) — Tue, 05 Jun 2007 19:17:33 -0700

Recently I was talking with a few of my co-workers about making offers on properties. One of them, RB, spoke up and said that he made an offer on a property for his buyer client. The offer was considerably less than asking price.

The property is a nice home listed at over $300,000. The listing agent was very upset with RB, highly emotional, and said that the offer was an embarrassment to both her and her sellers. RB told her that this was not a personal matter, but rather a business decision made by his buyer client.

As their conversation progressed, the listing agent finally told RB that she was not going to present the offer until he came back with a more reasonable offer - something that her clients could at least counter. In the end, RB came back to her with a higher offer that was considered and is still being negotiated.

There are two points that need to be made. First, the agent who receives the offer should submit all offers to his/her seller client(s). Secondly, it is not good practice for a real estate agent to become very emotional while handling offers. Sometimes offers can seem a bit ridiculous or could be much more than expected. However, we should try to be professional and realize that a buyers agent is only doing his or her job by presenting all offers - even if they are sometimes low ball offers.

Update on The Hamptons at Umstead

Keith Pate (Coldwell Banker / HPW) — Wed, 23 May 2007 20:36:16 -0700

Over the past few weeks I've had lots of inquiries about The Hamptons at Umstead - an exclusive community offer by Coldwell Banker HPW, in Raleigh, North Carolina.

In case you aren't familiar with this community, it is a brand new secluded community located on Ebenezer Church Road in Raleigh. There will be 215 home sites with lot prices starting at $180,000. Lot sizes will be from .29ac to .89ac. There are 22 custom home builders to choose from.

Lots may be reserved prior to recordation of the property and first builder lot draw. Recording is anticipated summer 2007. Buyer may select lot and secure it with $1,000 refundable deposit. Reservations taken prior to recording will remain valid for thirty days after date of recordation. After 30 days, deposit monies will automatically be returned without further notice if there is no contract. Deposit money can be transferred from one lot to another.

A signed contract with a preferred Hamptons builder is necessary in order to close the purchase of a lot. Construction of the dwelling shall begin within ninety (90) days of lot closing.

A few facts about the community:

Lot recording will begin in June or July.
There will be basement home opportunities.
Streets are all cut in but will be able to see the flow of things much better in Phase II - 30 days.
Curb and gutter started this week.
There will be no model home; the clubhouse will be the sales center.
Approximately 13 lots have already been reserved.
The community will not be gated.
There will be a swimming pool but no tennis courts.
City water, sewer, and natural gas will be available.

This community has been slated to be one of, if not the best, community in Raleigh.

Market Yourself to the Younger Generation

Keith Pate (Coldwell Banker / HPW) — Wed, 23 May 2007 19:52:20 -0700

If you want to learn about the future home buyers of real estate, then this article should help show the way.....The article was written by Melissa Dittmann Tracey of Realtor Magazine Online (May 21, 2007).

Market Yourself to the Younger Generation

WASHINGTON - If real estate professionals want to sell to the next generation of home buyers, they'll need to look to social networking sites, blogs, online videos, and virtual communities, says real estate technology expert Saul Klein, E-PRO®, GRI.

"There's a whole bunch of buyers coming up that do things in a different way, and you have to know how to communicate to them," said Klein, president of San Diego-based InternetCrusade. "And why do you even need to market to the next generation? Because they're going to have all the money."

Klein spoke on Friday at NAR's Midyear Legislative Meetings & Trade Expo.

Indeed, the younger generation is expected to inherit a huge amount of wealth in the coming years from their baby boomer parents, which will give them increasing buying power in the real estate market, NAR Senior Economist Lawrence Yun told attendees.

Already, the number of young home buyers is growing: the homeownership rate of the under-35 crowd has steadily increased to 43 percent from 37.5 percent in 1993.

Also, the number of single buyers continues to grow. In 2005, 21 percent of single home buyers were women, compared with 15 percent in 2001. Younger generations are also contributing to a rise in condo sales and downtown populations in large metro areas, Yun said.

How to Reach Gen Y

So how can you get younger buyers and sellers to use your services? First, understand how this generation uses technology, so you can use it for prospecting and networking, Klein said.

For example, you can reach them on their iPods by developing real estate podcasts or publish a blog to provide clients with real estate information. Be savvy with your marketing: instead of giving them refrigerator magnets, give them a USB flash drive.

Or, offer property listings or content via Real Simple Syndication (RSS) feeds - feeds that deliver syndicated content from various sites directly to subscribers' desktops - and be able to respond to prospects in real-time through instant-messaging and text-messaging.

Landlords should use precautions with tenants

Keith Pate (Coldwell Banker / HPW) — Mon, 21 May 2007 17:03:23 -0700

Recently I read a blog about tenants and how some of them respond to their landlords. I can relate to that. I used to own a Property Management company with more than 50+ units and I have seen some crazy things.

The tenants have a lot of rights and whether they are behind in rent, not paying, or trashing the place - you need to be very careful and follow the "Landlord/Tenant" laws for your city and/or state. In North Carolina, once you have filed for eviction with the court, the tenant still has time to vacate and that time can be prolonged depending on the circumstances.

Landlords should use precautions with tenants. When going to the property that the tenant(s) are currently living in, the landlord should, if possible, give a 24 hour notice. When you do go to the property, try to have someone go with you. Some tenants may accuse you of stealing their personal items if you go while they are not at home. That's another reason why you want someone to go with you - to be a witness. You may even want to take photos (with the correct date) or video in case you need to provide evidence in court.

I have had tenants to pretty much destroy the homes that they were living in before they left. I learned the hard way that if you do not possess before and after evidence, you are out of luck and out of pocket.

* Not all tenants or landlords are alike - some are better than others. But there is no reason not to be safe than sorry!

Home Prices are Favoring Buyers In Most Areas - Part 4

Keith Pate (Coldwell Banker / HPW) — Sat, 19 May 2007 21:30:12 -0700

Below is the last page of the article written by The National Realty News on May 15, 2007.

Total existing-home sales in the South were at an annual rate of 2.51 million units in the first quarter, down 7.3 percent from the first quarter of 2006. After the District of Columbia, the next strongest increase in the South was in Arkansas, up 8.8 percent from a year ago, followed by Kentucky, which rose 3.9 percent, and Texas, up 2.7 percent.

The median existing single-family home price in the South was $177,800 in the first quarter, which is 0.6 percent below a year earlier. After the Cumberland, Beaumont-Port Arthur and Gulfport-Biloxi areas, the strongest increase in the South was in the Oklahoma City area at $134,400, up 12.1 percent from a year ago, followed by the San Antonio area with an 11.2 percent gain to $148,300, and Baton Rouge, La., at $169,400, up 9.7 percent.

In the West, the existing-home sales pace of 1.28 million units fell 11.9 percent from the first quarter of 2006. After Wyoming, the best performance in the region was in Colorado where sales rose 0.8 percent from a year earlier.

The median existing single-family home price in the West was $336,200 in the first quarter, down 1.8 percent from a year ago. The strongest increase in the West was in the Salem, Ore., area, at $221,600, up 15.6 percent from the first quarter of 2006, followed by the Albuquerque area, at $193,700, up 12.7 percent, and the Salt Lake City at $206,900, up 12.3 percent from a year ago.

Home Prices are Favoring Buyers In Most Areas - Part 3

Keith Pate (Coldwell Banker / HPW) — Sat, 19 May 2007 21:26:11 -0700

The National Realty News article from May 15, 2007 continues below.....

The strongest condo price gains were in the Salt Lake City area, where the first quarter price of $164,600 rose 25.6 percent from a year ago, followed by Albuquerque, where the median condo price of $147,100 rose 17.9 percent from the first quarter of 2006, and the Austin-Round Rock area of Texas at $169,000, an increase of 14.4 percent.

Metro area median existing-condo prices in the first quarter ranged from $91,600 in Bismarck, N.D., to $584,700 in the San Francisco-Oakland-Fremont area. The second most expensive condo market reported was the Sarasota-Bradenton-Venice area of Florida, at $413,900, followed by Los Angeles-Long Beach-Santa Ana at $403,500. Other affordable condo markets include Wichita, Kan., at $94,500, and Greensboro-High Point, N.C., at $112,100.

Regionally, existing-home sales in the Northeast rose 1.2 percent to an annual pace of 1.13 million units in the first quarter from the same period a year ago. The biggest gain in the region was in New Jersey, where sales rose 7.6 percent from the fourth quarter of 2006, followed by New York state, up 7.4 percent, and Massachusetts with a 3.9 percent increase.

The median Northeastern resale single-family home price was $268,900 in the first quarter, down 2.5 percent from the first quarter of 2006. The strongest price increase in the Northeast was in Binghamton, N.Y., with a median price of $98,100, up 8.9 percent from the first quarter of last year, followed by the Reading, Penn., area, at $141,300, up 7.3 percent, and the Trenton-Ewing area of New Jersey, which rose 7.1 percent to $283,800.

In the Midwest, total existing-home sales fell 6.1 percent to a 1.49 million-unit annual level in the first quarter compared with a year earlier. The largest sales increase in the region was in Iowa, where sales rose 8.2 percent from the fourth quarter of 2006, followed by North Dakota, which rose 4.7 percent from a year ago, and Indiana, up 2.9 percent.

The median existing single-family home price in the Midwest was $154,600, down 2.8 percent from the first quarter of 2006. The strongest metro price increase in the Midwest was in the Bismarck, N.D., area where the median price of $149,400 was 14.1 percent higher than a year ago. Next was the Champaign-Urbana area of Illinois, at $145,400, up 9.2 percent from the first quarter of 2006, and Akron, Ohio, at $111,000, up 6.5 percent.

Home Prices are Favoring Buyers In Most Areas - Part 2

Keith Pate (Coldwell Banker / HPW) — Sat, 19 May 2007 21:18:09 -0700

The National Realty News has an interesting article written on May 15, 2007. Below is Part 2.

According to Freddie Mac, the national average commitment rate on a 30-year conventional fixed-rate mortgage was 6.22 percent in the first quarter, down from 6.25 percent in the fourth quarter; the rate was 6.24 percent in the first quarter of 2006. Last week, Freddie Mac reported the 30-year fixed rate dropped to 6.15 percent.

The biggest total annual sales increase was in Wyoming, where existing-home sales rose 19.9 percent from the first quarter of 2006. In the District of Columbia, the first-quarter resale pace rose 9.3 percent from a year ago, while Arkansas experienced the third strongest gain, up 8.8 percent.

In the first quarter, the largest single-family home price increase was in the Cumberland area of Maryland and West Virginia, where the median price of $100,000 was 17.1 percent higher than a year earlier. Next was Beaumont-Port Arthur, Texas, at $115,800, up 16.5 percent from the first quarter of 2006, followed by the Gulfport-Biloxi area of Mississippi, where the first quarter median price increased 15.7 percent to $153,700.

Median first-quarter metro area single-family prices ranged from a very affordable $75,300 in Elmira, N.Y., to more than 10 times that amount in the San Jose-Sunnyvale-Santa Clara area of California where the median price was $788,000. The second most expensive area was San Francisco-Oakland-Fremont, at $748,100, followed by the Anaheim-Santa Ana-Irvine area (Orange Co., Calif.), at $697,300.

In addition to Elmira, other affordable markets include Decatur, Ill., with a first-quarter median price of $76,200, and the Youngstown-Warren-Boardman area of Ohio and Pennsylvania, at $78,300.

In the condo sector, metro area condominium and cooperative prices - covering changes in 59 metro areas - show the national median existing condo price was $224,500 in the first quarter, up 1.0 percent from the same quarter in 2006. Twenty-seven metros showed annual increases in the median condo price, including seven areas with double-digit gains; 31 areas had price declines and one was unchanged.

Home Prices are Favoring Buyers In Most Areas - Part 1

Keith Pate (Coldwell Banker / HPW) — Sat, 19 May 2007 21:05:55 -0700

The National Realty News has an interesting article written on May 15, 2007. Below is Part 1.

State existing-home sales in the first quarter generally are below a year ago but more states are improving than reported in the fourth quarter of 2006, and home prices in most areas show that conditions are favoring buyers, according to the latest quarterly survey by the National Association of Realtors^®.

Total state existing-home sales, including single-family and condo, were at a seasonally adjusted annual rate1 of 6.41 million units in the first quarter, down 6.6 percent from a 6.86 million-unit pace in the first quarter of 2006, but are 2.4 percent higher than the fourth quarter 2006 level of 6.26 million. Fourteen states and the District of Columbia showed increases in the sales pace from a year ago, up from only six states showing gains in the fourth quarter report. One state was unchanged, and complete data for two states were not available.

In the first quarter, metro area existing single-family home prices, comparing changes in 145 metropolitan statistical areas 2 show 82 metros had price increases from a year ago, including 11 areas with double-digit annual gains; 62 had price declines, and one was unchanged. In the fourth quarter, 71 areas had reported price gains.

The national median existing single-family home price was $212,300 in the first quarter, down 1.8 percent from a year ago when the median price was $216,100. In the fourth quarter, the median price was reported to be 2.7 percent below a year earlier. The median is a typical market price where half of the homes sold for more and half sold for less, but there is a downward skew in the national comparison because sales have shifted away from many high-cost areas.

The costs of being a Realtor

Keith Pate (Coldwell Banker / HPW) — Sat, 19 May 2007 09:21:39 -0700

Being in the real estate business is an awesome thing. There is a lot to be said for being able to work your own schedule. True, this is hardly ever the case in our business, but we do a flexibility that most people don't have.

I used to believe that real estate agents had it made. Driving fancy cars, going into the office once in a while, and doing nothing for a whole lot of money. After-all, I bet if you asked the general public their opinion of real estate agents, they would probably have something very similar to say.

Hopefully this will help give a "live picture" as to what a real estate agents job is really about. Maybe it will help those who are thinking about possibly becoming a real estate agent. For the record, I will certainly try to be fair and balanced about this.

The following may or may not apply to all Real Estate agents or their specific states:

Real Estate Professionals must complete, not only the many hours of class training, but must pass a State exam.
Once the State exam has been passed, a Real Estate Professional is bound to a high Standard Code of Ethics both with the National Association of Realtors and with their respective state's Association of Realtors.
Real Estate Professionals must take mandatory update courses and have a certain amount of credit hours each year to keep their license active.
There are yearly dues to be paid for being a part of the National, State, and Local association of Realtors.
Each month, the Real Estate Professional must pay Multiple Listing Service (MLS) dues.
Each year the the Real Estate Professional must pay for a Privilege License in order to do business
Some real estate companies require that the agents pay monthly fees for being affiliated with that particular company.
Usually the Real Estate Professional will pay for his/her own business cards and stationery, some portion of advertising, sometimes signs or sign riders and sometimes long distance calls or faxes, copies and stamps.
Let's not forget all the gas and mileage spent for showing properties.
Countless hours on the phone, in meetings, showing properties, covering inspections and appraisals, preparing contracts, negotiating, etc.
Once a commission check is received, the real estate agent generally only gets a portion of that because the company also gets a share.
With the "leftover" commission that a real estate agent actually receives, he/she then must pay taxes and tithe (for some).

The costs of being a Realtor are many. For someone who has gone through many hours of school, passed the state board exam, takes mandatory update courses each year to maintain an active license, is held to a very high Standard Code of Ethics, spends countless hours with clients, and has a large amount of expenses for the business - there is not a whole lot of money left to live on.

There are some very lucrative financial rewards at times in this business, but more importantly are the relationships and friendships that are made.

If you were like me and thought that real estate agents had it made and did little to earn it, remember this; Real estate agents who make it in this business have worked very hard to make it happen. They are professional, and you can count on them looking out for the best interests of their clients.

Do You Know What Your Buyers Want

Keith Pate (Coldwell Banker / HPW) — Wed, 16 May 2007 19:58:17 -0700

Do You Know What Your Buyers Want?

"Bigger isn't better" is the message architects say they're getting from consumers.

"Households are putting less focus on the amount of space in their homes and more on how that space is being used," concludes the American Institute of Architects in its most recent quarterly Home Design Trends Survey.

"Rising home energy costs and concerns over affordability are resulting in a decrease in extra interior spaces that add to heating and cooling expenses," observes AIA Chief Economist Kermit Baker. More than one-quarter of residential architects report that home sizes are decreasing. Slowing, too, is demand for volume created by higher ceilings, with only 31 percent of those surveyed reporting demand for higher ceilings compared with 47 percent in 2006 and 51 percent in 2005.

Flexible Designs

Compared with previous generations, Baker says "home owners are looking to use their homes differently and therefore are looking for different layouts." Driving these changes are growing demands for accessibility: wider hallways, fewer steps, and homes with a single floor design. Almost three-quarters of architects, 74 percent, report increasing demand for accessibility.

Also high on consumer wish lists are rooms that can serve multiple needs of a household. More than two-thirds, 67 percent, of architects report increasing demand for multifunctional space, and 56 percent point to a growing trend toward more open space layouts.

Outdoor Living Still in Demand

Although lots are growing smaller, outdoor living continues to be strong, with two-thirds of architects noting this is a trend. Also in demand are spaces to help merge indoor and outdoor living.

Updated landscaping and outdoor amenities - such as fireplaces, gazebos, courtyards, swimming pools, and tennis courts - continue to become more desirable for consumers. There's also strong demand for fences, walls, and outbuildings, such as barns, sheds, storage facilities, according to AIA.

* Information provided by Camilla McLaughlin for REALTOR Magazine Online. Article from NC Association of Realtors - Realtor Report

Two NC Cities Named in Forbes 10 Least Overpriced Markets

Keith Pate (Coldwell Banker / HPW) — Wed, 16 May 2007 19:36:59 -0700

Two NC Cities Named in Forbes 10 Least Overpriced Markets

Forbes magazine has calculated what it considers the most overpriced U.S. housing markets by estimating a price-to-earnings ratio for each of the 40 largest metro areas. The magazine aslo calculated an affordability score based on how many residents pulling down a median income could afford to buy a property. Charlotte ranked No.1 in the nation as the least overpriced market, and Raleigh came in close behind at No. 3.

*Info provided by the NC Association of Realtors

I can't seem to get rid of the extra......need help

Keith Pate (Coldwell Banker / HPW) — Tue, 15 May 2007 13:41:07 -0700

Simply put, this is going to be a short post but hopefully I will get what I'm looking for from you - the viewer.

I am soon getting married and really need to lose the extra weight around my stomach. I know that exercise and diet are crucial to accomplishing this. I have yet to find anything that gets rid of the extra "fat" around my stomach. I eat mostly healthy, and do try to walk for exercise. But it seems that no matter how much I do or how healthy I eat, I can't seem to get rid of it.

Has anyone been able to successfully do this? If so, what all did you do and how long did it take?

Thank you for any tips and advice that you may be able to provide.

Traditional versus flat fee real estate companies

Keith Pate (Coldwell Banker / HPW) — Tue, 15 May 2007 11:43:06 -0700

There have been many interesting posts about traditional versus flat fee real estate companies. I debated writing this post because there are lots of A/R members who do both and I don't want to step on any toes. However, after having worked with a friend who owns one of the flat fee franchises, coupled with a recent transaction that I was involved with, I'm hoping to get constructive support from both sides.

Let me start by saying that for the sake of this post, "traditional" real estate agents are those that perform full service brokerage and generally have commissions set between 5% - 7%.

A few years ago I owned and operated a real estate & property management company. Our office performed traditional real estate services. At that time, a good friend of mine owned and operated a flat fee or discount brokerage company in the next county over from the one I was in. He only had one other licensed agent working in his office. However, their phones rang off of the hook from sellers wanting to sell their homes. He had listings coming in nearly every day. Well, one day he talked to me about helping him handle some of the overflow that he was having. I would do this, when I had free time, by showing his listings to potential buyer clients, helping place For Sale signs in the yards, etc. As a side-note, my company was in a small town with not a whole lot of resales and so I had a little more free time on my hands.

I was happy to help out because it gave me some extra money if I were to sell one of his listings. He also gave me some buyer leads..............

Recently, I had a listing for a very nice, well kept home in an average neighborhood. I ran the comps, and we placed the home at the higher end of the comp range - because we had, in my opinion, the best home in the neighborhood. The next door neighbor had placed their home on the market with a discount brokerage company approximately two weeks before we did. The neighbors home was about 50sf smaller than ours. Their home sold in 41 days and ours sold in 63 days. The end result was that our home cost our sellers a little more money to sell but contributed towards maintaining market value in the neighborhood. The neighbors home sold quicker, but helped bring down the market value in the neighborhood.

Flat fee or discount brokerages can indeed save the seller money. You simply pay a flat fee or a discounted fee depending on the service. In the case of my friends office, he charged a flat fee to list the home. If he or his office sold the listing, the seller paid a flat fee. If another agent from another office sold the listing, the seller had to pay a standard commission to the buyers agents brokerage but only a discounted commission to the listing company.

After working with my friend for about 6 months, I learned so much about his company functions. I feel that I have some good insight about the points that I'm making regarding traditional brokerage versus flat fee or discount brokerage.

Flat fee or discount brokerage advantage: save the seller more money
Flat fee or discount brokerage disadvantage: may cause market value of homes to be lower
Traditional real estate brokerage advantage: maintain higher market value of homes and more services available to the seller.
Traditional real estate brokerage disadvantage: seller may not save as much money

So who do you choose? They both have their advantages. I prefer the traditional because of the services that I can offer my clients and I would like to help maintain market value in my area. On the other hand, it would be great to own one of the flat fee/discount brokerage services because they seem to get a lot of listings but it is very hard to be an agent working for them - simply because there isn't a lot of commission to share.

Best cities for young singles

Keith Pate (Coldwell Banker / HPW) — Mon, 14 May 2007 13:30:49 -0700

Today's local newspaper, The News & Observer, featured an article regarding Raleigh, NC as one of the best cities for young singles.

According to Kiplinger's Personal Finance, the Capital City joined Washington; Denver; Austin, Texas; and Lexington, Ky., as the best cities for young singles.

Among Kiplinger's criteria: "For young singles, two factors can be crucial to choosing where to live: Can I afford the rents? And what can I do there? Finding an apartment that fits a starting-out budget is key. And whatever money is left over often goes to meals out and concert tickets.

But what do the singles who call the City of Oaks home? The singles scene is thriving on Glenwood South, the drink-dine-dance stretch on the southern blocks of Glenwood Avenue, near downtown".

Average monthly rent for a one bedroom apartment in Wake County is $680, according to the Triangle Apartment Association. It costs almost four times that much in Manhattan.

* However, if you are interested in living in the area and would like to own a home, but do not know how much you can afford, you can contact me today and I will help get you pre-qualified.

How to make more money

Keith Pate (Coldwell Banker / HPW) — Sun, 13 May 2007 21:20:09 -0700

A few months ago I was at home thinking about all sorts of ways to make more money. I had written them down and began to make a list of contact numbers, etc. Then one day I was talking to one of the trainers in our office about how he had become so successful in just a few short years. This guy could easily be the next in line to our Broker-in-charge. He had lots of clients, an assistant, and a great personality. Real easy to talk to. He later told me that a trainer/teacher in our Real Estate School had sat down with him a few years ago and helped him have a clear vision about where he wanted to go and how to get there. So I called her up, made an appointment to talk with me for about an hour, and brought all of my ideas on how to make more money.

I was fortunate enough to have the opportunity to sit with her because she travels heavily and meets with some high profile real estate figures in our industry. Now I don't necessarily mean real estate agents, but other business owner, authors, prolific industry coaches that are exclusive to certain parts of the country, etc.

Well, I would like to share a few of those valuable lessons with you. If you are like me and want to learn all that you can, so that you will be all that you can be, then this can help you along the way.

Have written goals. Review them every day and do something, no matter how small, to advance your position.
Focus on one or two things that you like to do and that you are willing to do. Do not go hunting with a shotgun if you are trying to hit one target - or in this case, possibly two targets.
Learn all that you can about your focus areas. Go to classes, meet people that are relevant to these goals, take good notes - even if they are only mentally.
Eliminate problems or situations that may cause you to wander off into another realm. Let me be more specific about this: There is nothing wrong with opportunities, but be clear that is is important, if not urgent. You must stay on track and not waste time on things that are not for you.
Again, stick to one or two things and no more. You must go through the ups and downs, learn from the good and bad, and then put what you have learned from these trials to good use. It is better to be the master of one or possibly two, then to be average at 5 or 6.
Most importantly of all.........Give back. Remember that you too needed help from someone, a group, etc. Your greatest reward will be knowing that you helped someone else along the way.

Just a little FYI - FACT: 97% of the U.S. wealth is owned by 3% of the population. The Reason Why: The three percent has written goals.

It is good to have written goals!

Stop The NC Home Tax

Keith Pate (Coldwell Banker / HPW) — Sat, 12 May 2007 17:43:08 -0700

The Inside Scoop, a newsletter provided by the Raleigh Regional Association of Realtors, recently produced an article regarding "Stop The NC Home Tax".

This proposed land transfer tax is a tax paid every time real estate is sold. This tax equates to a certain percentage of the value of the property. Part of the equity that the homeowner has acquired is taken away because these taxes are paid by the seller. This land transfer tax is the number one priority of the NC Association of County Commissioners, a membership organization of the state's county elected officials.

Proponents of the tax say that it is a tax on growth, when in effect, it targets those who are already here and selling their homes.

Revenues generated by transfer taxes are largely dependent upon economic cycles, and thus will fluctuate over time. This makes it difficult to use those revenues to fund bond issues or to cash flow infrastructure development projects, as opposed to revenues generated by property taxes or sales tax. Even extremely high transfer taxes could not meet most communities' needs for infrastructure development, and thus bond issues would continue to be necessary. This dual funding scheme has the potential for eroding public accountability and understanding of infrastructure funding requirements, which could further diminish support for bonds in the future.

The bills now being considered in the NC General Assembly would, upon voter approval, force people selling their homes to pay a 1% sales tax. For example, when selling a $200,000 home, the owner would have to pay $2,000 to the government when the home was sold.

North Carolinians are united in their opposition to the tax. "Stop the NC Home Tax" campaign consultant, Chri Sinclair said that in the less than one month since the website, http://email.hpw.com/exchweb/bin/redir.asp?URL=http://www.itsabadidea.org/ became active; it has generated more than 14,000 E-mails. Eighty-five percent of the E-mails received were initiated from non-REALTOR^®members.

Raleigh, NC - Major debate over taxes on homes

Keith Pate (Coldwell Banker / HPW) — Fri, 11 May 2007 08:27:23 -0700

Raleigh, NC - Todays local paper, The News & Observer, has an article about a major debate over taxes on homes.

WakeUp Wake County, a group that is in favor of having more limits on growth, has hired a well-known lobbyist to push for having up to a 1 percent fee on real estate transfers for school construction.

The N.C. Association of Realtors is opposed to the fee and have created an aggressive marketing campaign aimed at mobilizing public opinion to stop the proposed transfer fee. The association is paying for "Stop the N.C. Home Tax" yard signs, broadcast airtime and print ads in newspapers.

Tim Kent, the group's executive vice president said that this is a "tax on home sellers and home equity". Kent said that the transfer tax would price poor homebuyers out of the market and hurt young families trying to move into a bigger home or senior citizens who need the equity in their houses to finance long-term care. The real estate group also opposes school impact fees, saying the cost of new schools should be paid through budget cuts and property taxes.

A poll of 800 people commissioned by the group showed 81 percent opposed to a land transfer tax.

Never before worked with a Realtor? This will help.....

Keith Pate (Coldwell Banker / HPW) — Wed, 09 May 2007 20:56:13 -0700

If you are a potential buyer of a property and have never before worked with a Realtor, there are a few "fun" things that you will want to know.

Time and time again I find that the general public has not been educated about buying real estate property. The majority begin the process with blinders on and largely because Realtors are not getting the necessary information to them. I am going to share a few things with you, the consumer, that will hopefully give you a little peace of mind and make the buying experience more appealing to you.

What buyers should know before searching for a home:

In most cases, you will not have to pay your "Buyers Agent" a commission for his/her services to represent you through the buying process. The commissions are paid by the Seller. There are a few exceptions which should be thoroughly explained by your Buyers Agent.
Earnest money deposits, in most cases, are either returned to you (the buyer) or applied to the contract sales prices at closing. Again, the exceptions should be thoroughly explained by your Buyers Agent.
If you find a home that is NOT listed by the same company that your agent works for, your agent can still show you the property and represent you just the same.
If you find a home that IS listed by the company that your agent works for, but the Listing agent is not your Buyers Agent, your agent can still show you the home and represent you just the same.
When you the consumer want to see or possibly buy a property that is not listed by your Buyers Agent or the company that he or she works for, DO NOT be misled into believing that you will actually SAVE money by leaving your agent out of the picture. What you are doing is putting ALL of the commissions into the Listing Agents pocket. So in the end, you didn't save money, you just helped the Listing Agent get more money versus splitting it with your Buyers Agent.

Hopefully, you the consumer, have gained a little insight into the buying process and will enjoy the experience rather than worrying about who you must pay. In the end, whether you are represented by a Buyers Agent or not, and as long as the home is listed for sale through a real estate company, the Seller will pay the commissions. And either the Listing Agent will get the money or it will be split with the Buyers Agent.

I hope you have a great experience! Good luck!!

May 15th, 2007 - Protest over high gas prices

Keith Pate (Coldwell Banker / HPW) — Tue, 08 May 2007 10:13:18 -0700

In April, 1997, there was a nationwide protest over high gas prices. People decided not to go to the pumps at certain times or days. As a result, gas prices dropped about 30 cents a gallon overnight.

On May 15th, 2007, Internet users are asked to avoid the gas stations to pump gas for that day/night. As it stands, gas prices are averaging over $3.00 per gallon.

With more than 73,000,000 American members currently on the Internet, that would equal a savings of roughly $2,292,000,000.00 (nearly 3 Billion dollars) for just one day alone assuming that the average cost to fill up a car with gas is between $30 - $50 dollars. The oil companies would certainly feel the heat and hopefully turn the heat down on the price of oil!

Family should come before work

Keith Pate (Coldwell Banker / HPW) — Tue, 08 May 2007 09:02:24 -0700

Nearly every day when I get home from work, my son lights up like a Christmas tree. He usually comes running with a great, big smile on his face. "Daddy, are you ready to play?", he says. I say to him, "give me a few minutes and let me change clothes".

Usually, there are so many things to do after I get home and my time with him ends up being short. Once I change clothes, take care of a few loose ends that did not get finished from earlier in the day, eat dinner and do yard work or other things around the house, it is nearly dark outside and time for my son to take his bath.

My son thinks that it is so unfair that I don't have more time to spend with him. I try to nicely explain what I have to get finished before I can do the things that he would like for us to do. But you can't really expect a child to be understanding of that, can you? After-all, their life is care-free. Their mom and dad are all that really matter. Everything and everybody else is second place to them.

All of us that are blessed to have children need to take the time to enjoy them while we can. My son is 6 years old. Hopefully I still have a few more years to cherish that great, big smile that lights up like a Christmas tree.

I've learned something from him and that is this: Family should come before work. No matter what I am doing, I should take the time to spend with him, even if it is just for a few minutes. Those few minutes in his life will last a lifetime - for him and me!

Notice everyone else smiling?

Keith Pate (Coldwell Banker / HPW) — Sat, 05 May 2007 17:58:15 -0700

Have you ever noticed when someone has something bad or negative to say, people tend to listen. If you get the chance, watch your local morning news. OK, if you're not an early riser then watch the local evening news. Is it fun? Not usually. There is always something bad to report. But it's not just the media, people in general have an ear for something negative. Why is that? I'll tell you why - because it sells. You may not buy it, but it will get your attention. The next time you overhear someone "bad mouthing" another person, see if you don't find yourself trying your best to listen. It is a vicious cycle that most of us get caught up in on a regular basis - and we're usually not even aware of it.

When we do grab hold to something good, we are more likely to keep it. Sometimes we will share it and other times we allow it to work to our advantage. We need more good to go around and share with others. One smile at an individual, one time a day, could make them feel good all day long. It could also encourage them like there is no tomorrow.

The next time you have the opportunity to go on a vacation with your family or have a birthday party or go to a cookout, look and listen to the people around you. I'll bet you see smiles and hear lots of good things. How about the next time you see a baby smile...notice everyone else smiling? Take the time to smile, think positive, and say something nice to someone. It can absolutely change a situation from bad to good......and you may not even know it.

Good, Clean Humor

Keith Pate (Coldwell Banker / HPW) — Fri, 04 May 2007 10:07:36 -0700

I'm not much into posting blogs that aren't valuable to others, but this was good and clean........

An older couple were sitting on the couch watching TV one evening and the man had his arm around his wife's shoulder. He began rubbing her shoulder and she says, "that feels nice". The man then moves his hand down to her bosom and begins rubbing. The wife's says to him, " that feels good". Finally, the man moves his hand down on her thigh and begins to rub her leg. The wife says, "oh my, that feels sooo good". The man immediately stops. She looks at him and says, "why did you stop now"? The man grins and says, "because I found the remote".

A Thriving, Hot Market

Keith Pate (Coldwell Banker / HPW) — Fri, 04 May 2007 09:08:20 -0700

I am fortunate to be in one of the hottest real estate markets in the country - Raleigh/Durham, NC. With so many great places taking real estate and economic hits, our market has barely missed a beat. Forbes Magazine recently gave Raleigh, NC the top spot in the country as the "Best Places for Businesses and Careers". Raleigh's Economy has expanded 6% annually over the past three years.

You're welcome to my home......anytime!