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The week in review - and it was all about short sales - 09/30/11 09:50 PM
Mostly, this has been a week where I have been reading blogs from Active Rainers about short sales and generally getting up to speed about them. As I mentioned in an earlier blog, this was not something I really wanted to get into but it has caught up with me. My first toe into the short sale waters was with a buyer who wanted a certain property, even if it meant waiting. So far everything has gone well, the listing agent is a peach and saw me through all the paperwork which has now been submitted to the lender. The second (3 comments)
Sink or swim into a short sale - 09/28/11 07:53 PM
I swore up and down I would not get into short sales. Yea, right. First, a good client of mine insisted buying a certain property and, you guessed it, it was a short sale. But, except for filling out a few extra forms and waiting it out, there really is nothing I can do until I hear back if the lender accepts the offer. But now a seller wants me to handle his short sale. Actually, HIS LENDER wants me to handle his short sale. So, kicking and screaming, here I go. First, he was nudged into listing his property (with me), and (5 comments)
Don't let unaccompanied-by-agent strangers in while showing a home - 09/27/11 05:40 PM
I was just reading the excellent discussion on Gita Bantwal's blog http://activerain.com/blogsview/2525895/-is-this-ethical- when a comment by Anja Kerstens #175 caught my eye. It seems she was showing a listing to a client, and the listing agent said she only had one key. Anja continues that "while my clients toured the property another person walked in. When I confronted him he stated that his agent told him to help himself because the door was open. " NO, NO, NO - DO NOT LET HIM IN: At no time should an agent admit anyone into a listing being shown without that person's agent being present. Even then, close (5 comments)
Confusion about Buyer Representation Agreements - 09/25/11 10:37 PM
I just saw a blog that disturbed me re buyer representation. I am going to paraphrase here because I don’t want to use a direct quote for the whole thing: It mentioned that there is a state law that an agent can only show a property if: 1. There is an Exclusive Right to Represent agreement or 2. Has the seller’s approval to show the property What this implies is that the agent needs to get the sellers approval to show the property. Ok, I buy that, the agent has to set up a showing with the listing agent. You always (3 comments)
Getting ready for the first rain of the season - 09/25/11 09:57 PM
Finally, I could not put off doing certain chores around my house. The summer came to an abrupt end for me not by it being "fall" but by the weather announcement that the first rain was coming through. Where did the summer go? I had so many projects that I wanted to get done. But, no, this was a very busy summer in my real estate business and the weeks just flowed by. It wasn't that I didn't enjoy the summer, it is just that it came to an end when I wasn't ready. My improvements around the place did not get (0 comments)
Multiple offer situation where the listing broker represents one of the offers: Can We Talk?.......... - 09/24/11 01:05 PM
This blog by Richard and Ralph resonated with me. What about agents in the listing brokerage picking up the property themselves if it's such a good deal? Or, when a "good deal" comes into the brokerage and the agents get on the phone to tell their prospects about it before it has a chance to do some good for the sellers on the MLS? You know the listings, those that are are under contract within a few days. Just saying... Via Ralph Gorgoglione - California Real Estate (800) 591-6121 (John Aaroe Group): Multiple offer situations where the listing broker represents one of (5 comments)
Timing is everything - think of the possibilities - 09/23/11 10:03 PM
When you have a strong lead on the phone are you prepared? Do you think of possibilities instead of negatives? I have converted several prospects into clients by thinking several steps ahead. Here's an example: A gentleman called me based on a "for sale" yard sign. He was actually looking for a rental. I don't do rentals, but in the conversation he let drop some information that I knew was real estate gold here in Crescent City. Even though I normally don't do it, I proceeded to call people with upscale homes asking if they were interested in leasing out their home. And (9 comments)
How do today's appraisers appraise? - 09/21/11 05:12 PM
Just got another call from an appraiser, this one from out of the area, asking if I knew of any comps for a certain type of property. This is a higher end property, so not many (any?) have sold here for awhile. That started me to think: don't appraisers have their own pipelines of information? Why call me? As a real estate broker, I regularly research properties that my buyers are interested in, or sellers who want to list with me. Why, if I can, can't or don't these appraisers have their sources? I could have found out that information he was asking for (3 comments)
Marking the seasons by your real estate deals - 09/20/11 09:15 PM
To everyone here in Del Norte County, California it is Indian Summer and a beautiful one at that. To me? It marks the end of summer during which I was working hard to get a certain deal into escrow, the biggest one that we have seen in and around Crescent City in over a year. And now starts all the hard work to get it to closing! By that time it will be winter. Where did the summer go? Frankly, I was so caught up with this one deal, a big commercial one, that I almost forget that I was also (4 comments)
Don't rest on your laurels, keep in personal touch with your clients - 09/17/11 06:32 PM
I learned a big lesson yesterday by something that happened to someone else. An agent had a listing a year ago and, when the owner wanted to refinance, the listing was taken off the market. This is a high-end home. Only a short time after the home was taken off the market, I found a very desirable tenant for the owner, a tenant who is now thinking of buying the home. And we are in negotiations. Fast forward to yesterday when the agent called me. Not only did she not know that the home had been rented out and the owner left the area, but she (3 comments)
Oceanfront Homes in Crescent City California from $750,000 - 09/16/11 05:56 PM
Purchase this $750,000 luxuriously appointed oceanfront two story home located on Pebble Beach Drive in Crescent City, Del Norte County, California. There are magnificent ocean views through large windows running the length of the house. Step out onto the deck through sliding glass doors, and step down to the fenced garden area at the edge of the bluff with its incomparable views. The lanai off the second story master suite is a wonderful private place to enjoy morning coffee or sunset cocktails. In between, sunbathe and watch whales offshore. The finest craftsmanship and amenities have been built into this sunny home including (0 comments)
Enjoy The Ride....It's A Long Journey...Some Will Arrive And Some Won't !!! - 09/15/11 10:40 AM
Barbara Todaro's blog spoke to me. My feeling is, what is the top, what is "arrival"? When you are "at the top" in your own mind, yes, you will probably be attacked from all sides, because you are defending yourself constantly. When you do well you have the luxury to reach even higher, do something more innovative, expand, SOAR. I have seen too many agents who, when they think they are doing well, just keep doing the same thing over and over. That gives others the opportunity to not only duplicate what you do, but go further, in fact, SOAR and (4 comments)
Relocation is tough for buyers, but you can come out the winner - 09/15/11 09:51 AM
My buyers are relocating for financial reasons. There are no jobs where he lives now and his wife has a long commute every day to her job. Their home, like many others, is "underwater" so hard to sell. The equity that they thought they had to purchase another property somewhere else has disappeared. This is probably the story of many couples all over the country. What do you do? Uproot the family to a totally new location because one or the other of them has found a good job in another part of the country? Do you sell your dream home (0 comments)
Commercial Real Estate Buyer found me on my Activerain outside blog post - 09/13/11 10:26 PM
My Activerain outside blog post is designed to attract commercial buyers for the Carmel-by-the-Sea area. As you might be aware, I share my time between Crescent City in Northern California and Carmel-by-the-Sea on the beautiful Monterey Peninsula. Each has its own charm, and they don't compete with each other. Because it gets very touristy/busy in Carmel-by-the-Sea during the summer months, I tend to stay out of everyone's way then. However, I do keep in touch closely with my clients there and, if I have to travel down the beautiful California Coast to meet with clients, I will do so. This week a gentleman called me about (2 comments)
What if the seller doesn't tell you everything? - 09/08/11 08:29 AM
Especially important things like he hasn't been paying on his 2nd mortgage, only his 1st. And where did he think that was going to get him? Now the 2nd is going to foreclose...I presume, because another agent in town is doing a BPO. When he had it listed before, he needed matchsticks put under his fingernails before he would lower the sales price to the current market conditions. The reasons he wouldn't: he wanted to be able to pay off both mortgages with the sale plus expenses. When he couldn't sell it, he took it off the market. No, he never considered (7 comments)
How can one piece of vacant land turn into multiple listings & commissions... - 09/05/11 07:33 PM
...and increase holdings over time for your client? It started rather simply: 1. Listing #1: It all started with the listing of a very desirable piece of vacant land. 2. Sale #1: Someone else wanted to swap their piece of land for it (not quite so desirable so there were $$$ left over). 3. Buy #1: Leftover $$$ will be spent to buy rental property with 1031 exchange. 4. Listing #2: Swapped land to be listed. 5. Potential sale #2: Of swapped land (already have a buyer looking at it). 6. Listing #3: Of rental income property after it has been fixed up. (3 comments)
Are you working this Labor Day Weekend? - 09/03/11 12:40 PM
Yes. And here are some examples how I am working yet staying put: 1. While I was walking my dogs in my favorite forest behind my house, a call came in from someone wanting to get through a security gate to look at one of my vacant land listings. They had come to Smith River for the day. No problem. I look on the listing information on my iPhone4, and give it to them. When I got back to my home office, I emailed them the listing information they requested. If they like what they see, they will come back and we can (7 comments)
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.