Through social media, I've been humbled to meet some of the most brilliant minds in the real estate industry. These experiences lead me to experience a burning desire to focus an episode of The David Patterson Show on Social Media's Impact on The Real Estate Industry.
Les Sherman with Remax in Austin, Texas shares some humorous thoughts about the world of Facebook. It's a must read. Do you see some of yourself in this post? I did!
(CNN) -- Facebook, for better or worse, is like being at a big party with all your friends, family, acquaintances and co-workers.
Facebook can be a great tool, and an occasional annoyance. What kind of Facebooker are you?
There are lots of fun, interesting people you're happy to talk to when they stroll up. Then there are the other people, the ones who make you cringe when you see them coming. This article is about those people.
Sure, Facebook can be a great tool for keeping up with folks who are important to you. Take the status update, the 160-character message that users post in response to the question, "What's on your mind?" An artful, witty or newsy status update is a pleasure -- a real-time, tiny window into a friend's life.
But far more posts read like navel-gazing diary entries, or worse, spam. A recent study categorized 40 percent of Twitter tweets as "pointless babble," and it wouldn't be surprising if updates on Facebook, still a fast-growing social network, break down in a similar way.
Combine dull status updates with shameless self-promoters, "friend-padders" and that friend of a friend who sends you quizzes every day, and Facebook becomes a daily reminder of why some people can get on your nerves.
Here are 12 of the most annoying types of Facebook users:
The Let-Me-Tell-You-Every-Detail-of-My-Day Bore. "I'm waking up." "I had Wheaties for breakfast." "I'm bored at work." "I'm stuck in traffic." You're kidding! How fascinating! No moment is too mundane for some people to broadcast unsolicited to the world. Just because you have 432 Facebook friends doesn't mean we all want to know when you're waiting for the bus.
The Self-Promoter. OK, so we've probably all posted at least once about some achievement. And sure, maybe your friends really do want to read the fascinating article you wrote about beet farming. But when almost EVERY update is a link to your blog, your poetry reading, your 10k results or your art show, you sound like a bragger or a self-centered careerist.
The Friend-Padder. The average Facebook user has 120 friends on the site. Schmoozers and social butterflies -- you know, the ones who make lifelong pals on the subway -- might reasonably have 300 or 400. But 1,000 "friends?" Unless you're George Clooney or just won the lottery, no one has that many. That's just showing off.
The Town Crier. "Michael Jackson is dead!!!" You heard it from me first! Me, and the 213,000 other people who all saw it on TMZ. These Matt Drudge wannabes are the reason many of us learn of breaking news not from TV or news sites but from online social networks. In their rush to trumpet the news, these people also spread rumors, half-truths and innuendo. No, Jeff Goldblum did not plunge to his death from a New Zealand cliff.
The TMIer. "Brad is heading to Walgreens to buy something for these pesky hemorrhoids." Boundaries of privacy and decorum don't seem to exist for these too-much-information updaters, who unabashedly offer up details about their sex lives, marital troubles and bodily functions. Thanks for sharing.
The Bad Grammarian. "So sad about Fara Fauset but Im so gladd its friday yippe". Yes, I know the punctuation rules are different in the digital world. And, no, no one likes a spelling-Nazi schoolmarm. But you sound like a moron.
The Sympathy-Baiter. "Barbara is feeling sad today." "Man, am I glad that's over." "Jim could really use some good news about now." Like anglers hunting for fish, these sad sacks cast out their hooks -- baited with vague tales of woe -- in the hopes of landing concerned responses. Genuine bad news is one thing, but these manipulative posts are just pleas for attention.
The Lurker. The Peeping Toms of Facebook, these voyeurs are too cautious, or maybe too lazy, to update their status or write on your wall. But once in a while, you'll be talking to them and they'll mention something you posted, so you know they're on your page, hiding in the shadows. It's just a little creepy.
The Crank. These curmudgeons, like the trolls who spew hate in blog comments, never met something they couldn't complain about. "Carl isn't really that impressed with idiots who don't realize how idiotic they are." [Actual status update.] Keep spreading the love.
The Paparazzo. Ever visit your Facebook page and discover that someone's posted a photo of you from last weekend's party -- a photo you didn't authorize and haven't even seen? You'd really rather not have to explain to your mom why you were leering like a drunken hyena and French-kissing a bottle of Jagermeister.
The Obscurist. "If not now then when?" "You'll see..." "Grist for the mill." "John is, small world." "Dave thought he was immune, but no. No, he is not." [Actual status updates, all.] Sorry, but you're not being mysterious -- just nonsensical.
The Chronic Inviter. "Support my cause. Sign my petition. Play Mafia Wars with me. Which 'Star Trek' character are you? Here are the 'Top 5 cars I have personally owned.' Here are '25 Things About Me.' Here's a drink. What drink are you? We're related! I took the 'What President Are You?' quiz and found out I'm Millard Fillmore! What president are you?"
You probably mean well, but stop. Just stop. I don't care what president I am -- can't we simply be friends? Now excuse me while I go post the link to this story on my Facebook page.
"I hate to just give up, but, I'm lagging so far behind with this twittering, I don't think I can catch up."
Hey Tina! Be of good courage... I have some good news for you!
Twittering is like a Marathon... Steady persistence wins the race.
In my opinion, the use of all Online Social Media tools shouldn't be viewed as a "sprint".
It can take 6 - 18 months to build a viable, consistent online presence through these tools.
Without question, Twitter is an excellent way to build a diverse and profitable Lead Generation Database. REMEMBER.......... You are in the LEAD GENERATION BUSINESS.
If you don't have leads..... YOU HAVE NO BUSINESS!
Who do I "tweet"? Everyone! However, I have a core group of "followers". These are the individuals that would..... 'know me, like me and trust me.... and would send referrals to me'.
There should be a balance between "everyday stuff" and "real estate specific content".
My first goal in Twitter is to build my professional credibility.I share my blog posts. I share my listing. I update my "followers" on my teaching schedule. These "tweets" will let my "followers" know about my involvement and success in the real estate industry.
Do I share "everyday stuff? ABSOLUTELY! It's important to connect with "followers". If they don't like you, the chances of receiving a referral from your "followers" are slim.
Keep your head in the game Tina.
Pursue Twitter success with the same passion as your pursuit of ActiveRain success.
With all the excitement of the first time home buyer tax credit, buyers often get confused and miss out on other important options.
As a first time buyer, don't let the excitement of the $8,000 tax credit cause you to miss out on many other home buying options. It isn't uncommon for a buyer to confuse the federal tax credit with seller credits, down payment assistance, or first time home buyer grants.
First time home buyers have many options. Utilizing one option does not hold a buyer back from utilizing one or more other options allowed to them as a first time home buyer. This article is written not to go into great depth on each option, but to help you realize the different options available as a first time home buyer and how to utilize each/all of these options.
Read on to understand some common terms and how to take advantage of each option.
Tax Credit
The federal tax credit is the (up to) $8,000 incentive that everyone is talking about. Most home buyers that haven't owned a home in the last 3 years will qualify for this. In general, this credit is realized as a credit for you when you complete your taxes in the spring of 2009 (for 2008's income).
For example, if you would have normally received $2,000 back after completing your 2009 tax returns, the tax credit would add an additional $8,000, to make your total amount received $10,000. For additional information and guidelines, go directly to First-Time Home Buyer Credit: Answers.
Seller Credit (Seller Concessions)
A seller credit, better known as seller concessions, is a scenario when the seller agrees to pay a certain amount of your settlement costs. The seller may pay a percentage, such as 2, 3, or 6% of the purchase price, or they may pay a dollar amount, such as $2,500 or $5,000.
Many people miss out on first time home buyer grant options. Once a buyer hears about the $8,000 tax credit, they sometimes go deaf to other options, either out of excitement or because they don't realize they can utilize more than one option.
A grant is a program often issued by a county or state that offers funds to the home buyer for the purchase of a home. Either a flat dollar amount or a percentage of the loan amount is used to calculate the funds offered. A typical grant percentage would be 2, 3, or 4% of the loan amount. For instance, 4% of a loan amount of $100,000 would give you a $4,000 grant.
Grants can be utilized for down payment requirements and/or to pay for closing costs. Depending on the purchase price and the grant selected, a grant can sometimes even cover all requirements the buyer has concerning both the down payment requirement and closing costs.
Down Payment Assistance
As of the date of this article, down payment assistance in the traditional sense is not available.Down payment assistance programs (DAPs) were an option where the seller would indirectly give a buyer the money needed for down payment requirements. These transactions in general had a higher default rate then most, therefore this option is no longer available. Examples were the Nehemiah program or the Genesis program. There is a movement to reinstate these programs. The mentioning of DAPs here is simply to help you differentiate and not confuse them with other options.
How to Utilize More Than One First-Time Home Buyer Option
Here's where the rubber meets the road. A common example of utilizing all of the above options is as follows:
Buyer meets with grant official or loan officer for qualification requirements pertaining to a specific grant option. In our example the buyer will use an FHA mortgage, which requires a 3.5% (of the purchase price) down payment. The purchase price is $100,000, therefore the down payment requirement for this would be $3,500.
Loan officer and buyer determine that the use of a 4% grant would be the wisest choice. Since the down payment requirement is $3,500, the financed amount will be $96,500 ($100,000 - $3,500). Based off of $96,500, a 4% grant would be $3,860 (loan amount x 4%, or $96,500 x .04)). Compare the grant amount with the buyer's down payment requirement of $3,500, and the grant amount is $360 more than the required down payment amount. This type of grant covers the down payment requirements and some additional funds to be applied towards the closing costs.
Assuming closing costs are $5,000, here is how you can determine what to request from the seller to get the closing costs paid as well. We can subtract the extra money left over from the grant, in this case $360, from $5,000. Our sum is $4,640. FHA requirements allow the seller to pay up to 6% of the buyer's closing costs. We don't need all 6% (or $6,000), we only need $4,640 from the seller. So when the purchase of the home is negotiated, the buyer's agent negotiates with the seller's agent that the seller will agree to pay $4,640 towards the buyers settlement fees/closing costs.
Buyer goes to settlement needing $0 to close, and in fact they will get back the money already deposited with the real estate agent and lender.
Lastly, the buyer can still maximize the use of the federal tax credit and receive their $8,000 after filing their 2009 tax returns.
All-in-all, in our scenario the home buyer will receive $16,500 for purchasing a home ($3,860 grant + $4,640 seller's concessions + $8,000 tax credit). The buyer is able to utilize three separate home buying options and in the end, still have their own money in the bank, which will then get boosted in several months by the $8,000 tax credit. Now THAT is the kind of lending and buyer representation that creates solid, well founded home owners, which is exactly what we all desire.
By working with knowledgeable professionals, you can utilize multiple buyer options to make your home buying experience an amazing event!
If you would like more information, as a buyer, seller, real estate agent, real estate office, financial planner, college or other party, feel free to contact Steve Kappre directly on his cell at 856-419-3561 or via e-mail at steve@stevekappre.com.
Steve Kappre is a Mortgage Planner with Treasury Mortgage. Steve specializes in;
• All areas concerning First-Time Home Buyer Mortgages, grants, down payment assistance, police and fire loans, rehab loans, and more.
Are you having trouble getting buyers to visit your home?
One reason could be how you arrived at your listing price.
Did you and/or your real estate agent discuss Absorption Rates before pricing the home?
What?..............
You are unfamiliar with the term Absorption Rate.
Christine McInerney & Jennifer Halinkowski are two of my fellow KW Associates at one of the newest Keller Williams Market Centers in Knoxville, TN. They have done an excellent job (below) of simplifying the Absorption Rate equation.
Having two small children and several rescue animals I know how important the concept of absorption is- I need highly absorbent paper towel and napkins to clean up all their spills (they inherited their clumsiness from me). I also know that kids absorb information quickly so you need to be careful what you say around them because sometimes they absorb the "wrong" thing.
The concept of "absorption" is even more important in my career as a full time Realtor. Before, I ever put a home on the market I always calculate the absorption rate. Absorption rate is a concept and practice that is often over looked by many Realtors and lack of knowledge can lead to expired listings which everyone know is no good- it hurts the Seller, the Realtor, and can lead to poor sales results in an area.
So what is the absorption rate?
Just like the name applies, the absorption rate is a calculated estimate, based on current and past market trends, that determines how long it will take for Buyers to absorb (aka buy) the current inventory in a given area.
So what does this number tell you?
As a Realtor, I often have Sellers ask me how long I think it will take to sell their house. While I do not have a crystal ball or the ability to see into the future, the absorption rate can allow me to make an educated estimate of how long it will take for a home to sell based on the number of comparable homes on the market and the number of closed homes in a given time period.
The absorption rate follows the simple law of supply and demand. If an market area has 46 similar homes on the market and only 5 comparable home sold the past month that are has a current absorption rate of 9.2 months. In other words there is 9.2 months of inventory. Therefore if a Seller "needed" to sell within 3 months they better make sure that their price and condition were better than that of the competition.
Selling real estate is not about guessing- it is both a science and an art. Because both Jennifer and myself have advanced science degrees we thoroughly research market areas both before and during our listing periods as good knowledge of the market is critical in selling a home and allowing Sellers to get the most money out of their homes and to sell in the shortest period of time.
Interested in Selling your Knoxville TN home contact Christine and Jennifer today. We provide a free no obligation Compartative Market Anaylsis and detailed Market report.
Instantly search for more homes for sale in the Knoxville TN and surrounding areas now! www.HomesForSaleKnoxville.com
In relation to The American Recovery and Reinvestment Act of 2009, first-time homebuyers WITH THE RIGHT LENDING PARTNER might have an opportunity to obtain $8000 at the closing table for down payment assistance, closing costs and/or prepaid expenses.
We also discussed MYTHunderstandings of first time home buyers. If you are a first time home buyer and want to take advantage of low interest rates, tax credits and lower home prices, TODAY IS THE DAY to start your home buying process.
Do you really understand the current real estate market? Are you truly prepared to make the best purchase? Listen to this podcast for the answer.
Here is a direct quote from a section of that letter ---
II. FHA Tax Credit Guidance
Secondary Financing
Consistent with existing FHA policy, FHA will permit entities covered by Section 528 of the National Housing Act to use the current authority to offer tax credit advances with second liens in a manner consistent with the requirements in 12 U.S.C. 1709(b)(9). Eligible government agencies and instrumentalities of government are described in handbook HUD-4155.1 5.C3 and 5.C4.
Conditions:
The tax credit advance when combined with the FHA-insured first mortgage may not result in cash back to the borrower.
The second lien may not exceed the total amount needed for the down payment, closing costs, and prepaid expenses.
Secondary financing may be "soft" (silent) or require a monthly repayment.
If payments are required, they must be included within the qualifying ratios and, when combined with the first mortgage, cannot exceed the borrower's reasonable ability to pay.
Payments must be deferred for at least 36 months to not be included in the qualifying ratios.
If the tax credit advance loan has a short term for repayment, it must also provide that if the borrower fails to repay by the designated deadline, principal and interest payments begin automatically or the loan converts to a "soft" second.
The secondary financing may not require a balloon payment before ten years.
Are you looking to purchase your first home? Do you want $8,000 in assistance?
".....life is simply a matter of priorities. Your future is based on the choices you make today." - Terry Padalino
As a leading real estate professional, Terry Padalino specialized in turning clients' dreams into reality throughout the Lake Murray, Columbia and Lexington, South Carolina areas. Padalino has the knowledge, insight and sphere of influence necessary to help valued clientele succeed in this competitive marketplace.
Since January 1, 2002*, there are ONLY TWO agents that have more Consolidted MLS SOLD VOLUME than Terry Padalino.
Does fear play a dominant role in your life? Most real estate professionals believe that fear has made a significant impact on the current economic climate and local real estate markets throughout the country.
With decreased home prices, the $8,000 tax credit and interest rates hovering at record lows, these are very "buyer friendly" times in the real estate market. Unfortunately, a climate of fear is causing first-time home buyers to become paralyzed and miss moments of great opportunity.
What role does/should fear play in your life? How can you conquer fear? What does it take for you to move from paralysis to power? Spencer Combs is a NLP Master Practitioner, licensed Life and Busincess Coach and specializes in creating massive progress in a short period of time.
Spencer shared his thoughts on these and many other questions on this The David Patterson Show podcast.
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.
eal estate industry. These experiences lead me to experience a burning desire to focus an episode of 
It's a must read. Do you see some of yourself in this post? I did!
There are lots of fun, interesting people you're happy to talk to when they stroll up. Then there are the other people, the ones who make you cringe when you see them coming. This article is about those people.
My Twitter success has led to speaking/training engagements within the 
As a first time buyer, don't let the excitement of the $8,000 tax credit cause you to miss out on many other home buying options. It isn't uncommon for a buyer to confuse the federal tax credit with seller credits, down payment assistance, or first time home buyer grants.
Down Payment Assistance
The absorption rate follows the simple law of supply and demand. If an market area has 46 similar homes on the market and only 5 comparable home sold the past month that are has a current absorption rate of 9.2 months. In other words there is 9.2 months of inventory. Therefore if a Seller "needed" to sell within 3 months they better make sure that their price and condition were better than that of the competition.
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