Here They Come

What We Do

Anyone using a Hands Free service that is free?

Just curious what everyone else is doing and how it is going? What are the positives and negatives of the service that you are using or have already tried?

I heard about FDI Hands Free. It is a phone number that you can add on the speed dial in your phone and then call the number and verbally send text messages and emails. It also allows you to have your email played to you over the phone. Starting on April 1st, text messages will also be read to you.

According to the info that I found this service costs 10 a month. There is no long term commitment or contract to sign so if you don't like it, you can cancel anytime.

Are there better products out there that you like better?

Are you looking to buy or sell in the Charlotte, NC area? Make sure to visit us at www.myCarolinahome.net

Lisa Archer

 

Government Spending versus Household Spending

As a result of the Financial Crisis/Credit Meltdown/Real Estate Bubble etc., the Federal Government has spent approximately 10% of our countries total GDP annually for nearly 2 years now in an effort to "ease the crisis."  So what have we gotten for our investment?

Currently we are told unemployment is not as bad as it could be, and is possibly easing after last month's statistics.  Despite this reassurance, we have admitted unemployment of nearly 10% which does not count an individual who has been out of work more than the 26 week initial unemployment period nor does it count the roughly 150,000 persons who wish to enter the workforce each month as they come of age (they have never had a job to lose, therefore they cannot be unemployed).  The reality is we actually have one in five (20%) of our workforce either unemployed, or underemployed.

So what is government's answer? In the State of Washington, the legislature is now in "Special Session" figuring out ways to increase taxes for the citizens in order to close an almost $3 Billion shortfall.  To be fair they have "cut" spending by nearly that amount already (but the reality of these "cuts" is that they are "cutting" the previous budget's proposed increases rather than actually cut what is currently being spent).  The problem is that our leaders are out of touch, and while running around trying to find more ways to take hard earned dollars from us in the form of taxes, they have not come up with any kind of plan to increase jobs other than continue spending on programs that are already in place.

The problem with all of this is simple.  There is little, if any, difference between what our government is doing, and an individual who goes out after losing their job, and makes no change to their lifestyle, but just charges everything on their credit card.  After all, they will eventually get a job again, and they will just pay the money back then right?

I don't know about you, but this does not seem responsible for an individual, so why is it acceptable by our government?

Beware of the Ides of March

Beware of the Ides of March!

 

By Brian Madigan LL.B.


That was good advice given by a soothsayer to Julius Caesar although he did not heed the warning.

The words were made popular by William Shakespeare in his play "Julius Caesar".

In real estate, it is significant because it is the begining of the Spring market and generally as goes the Spring market, so does the rest of the year.

So, be alert to its meaning and heed its advice!

Brian Madigan LL.B., Real Estate Broker is an author and commentator on real estate matters, Royal LePage Innovators Realty
905-796-8888
www.OntarioRealEstateSource.com

One of those days!

Well, I started to write a blog at 6:00 am this morning and got sidetracked but that's ok I'll get it in before my first appointment this morning at 10:00.  It didn't happen. 

My Wife was leaving for Tokyo and I spent breakfast with her instead of going to the gym and after going over the commercial lease I was to get signed today from my client.  It was time to shower and get on the road to Arlington to get the lease signed. 

I'm on time but set in the waiting room for 20 minutes before I'm able to meet with my client and go over the lease and get all of the signatures.  They don't have the checks, it's coming FedEx and not here yet.  So, I drive back to Fort Worth hoping to get to the blog and other things on my to do list done.  Just as I'm coming off the freeway to the office, phone rings, checks are in.  So, I turn around and drive 30 minutes back to Arlington to pickup the checks.  I get there and my client is gone, the secreatry tells me there aren't any checks for me but if I would wait a few minutes my client would be back and get them for me.  I waited another 30 minutes before he returns to tell me the checks, which are coming from Washington DC., weren't in the package that was sent but they would be there tomorrow. 

Someone in Washington messed up and didn't put the right checks in, amaigne that!

So, I eat a heart attack in a sack and head to Weatherford, which is 30 miles the other way for my afternoon appointment and return just in time for my 4:00 conference call.

Here's what I accomplished today.  I learned if you go to fatwallet.com you can get free coupons for domain purchases on Godaddy.com.  I drove about 150 miles and got a lease signed I'd been working on for a month and half and now it's 6:30 pm and I'm writing my blog I started 12 hours ago.  I also learned how to add a hyperlink with an anchor text into my blog.  Thanks Brad.

Tomorrow's another day.

Happy Trails, DK

Do YOU have to pay real estate taxes? Could you be exempt?

Do You HAVE to Pay Real Estate Taxes? Hmmm....

Did you know that you, or someone you love, may be exempt from paying Real Estate Taxes in Loudoun, Fairfax, Prince William or many other nearby counties?

The exemption is reserved for those with limited incomes and who meat certain age or disability requirements.

Okay, so that means I have to keep paying my real estate taxes.  But, when my mom had a stroke a few years ago, and went on permanent disability, learning about this made a HUGE difference in her monthly available cash.  

There is a catch - you can only apply once a year, and they are strict about this.  Hurry, because the deadline expires April 1st.  There are some upcoming workshops being held around the county - check out the link below for dates and locations, and the forms you'll need to apply for the exemption.

Click here for more information:  LOUDOUN COUNTY TAX RELIEF

What Makes a Short Sale Specialist?

When I closed my first short sale in 1998 I had no idea that 10 years later I'd be doing them with any regularity. At that time, short sales were uncommon; they remained uncommon through 2006. Even in 2007, other agents needed to be educated about what a short sale was, how long it took to close, and what process the negotiation would entail. 

Having closed dozens of short sales in the period since 2007 in Westchester and the surrounding counties, I now see a larger number of agents who are familiar with short sales. I also see a higher number of agents who bills themselves as "short sale specialists." In some cases, they have earned a designation. I applaud any agent who furthers their knowledge. However, designations can be misleading and may not help the client. 

There is only one problem with an agent who calls them self a specialist these days, and that is this: they may not really be specialists. Designations mean nothing if you cannot successfully negotiate and close a workout. In Westchester, there are enormous numbers involved, and if a home seller cannot close on their short sale because their agent, well, stunk, they could be stuck with a lingering debt, or, worse, a deficiency judgment for tens of thousands of dollars. What's worse, if these sellers really knew how many short sales their "specialist" agent actually closed (often, between zero and one) they would be mortified. 

The code of ethics strictly prohibits misleading clients as to the agent's scope of expertise. A special designation might circumvent an outright violation. But it doesn't protect a Westchester homeowner from huge problems if their agent can't get the job done. In many cases, the homeowner never asked the agent how many short sales they have actually closed. This is madness. I would never have eye surgery with a rookie doctor. Our obstetricians had decades of experience. The same goes for the guy that installed our pool table, water heater, and appliances. The reasons are obvious. 

Yet people still do not ask their prospective agents how many short sales they have closed. You simply cannot be a specialist with no experience; I'm sorry. I don't care if you have a PhD or a photo shaking the Pope's hand. What they taught you in class simply isn't all it takes to handle the loss mitigation department of a lender. Sellers need to understand that if they hire an inexperienced agent to do their short sale, they do so at their own peril. I'd never want a surgeon cutting their teeth on my gall bladder, a lawyer apprenticing at the expense of my freedom, or an agent getting their feet wet at the expense of my finances. 

Simply ask : "How many short sales have you successfully closed?" prior to listing your home. That will guide you far better than a patch on their arm. And if you are an agent who wants to get into short sales, work for someone who does them with regularity. I have often said that any agent can make money in short sales. However, 99% of them should be via a referral to a true specialist.

 

• J. Philip Faranda, Broker-owner, J. Philip Real Estate, LLC. 2010 Vice President, Westchester-Putnam Multiple Listing Service. 
• Read my short sale blog here. 
• J. Philip Serves Briarcliff Manor, Ossining, Croton, the River Towns, Westchester County, and the bedroom counties of New York City.
• Free MLS Search! Register for a Free Listingbook account and search the MLS like an agent. 
• I'm hiring agents. 
• Agents: Subscribe to the 40 Somethings Group. Reach Phil at (914) 723-8900.

All content/images, unless noted, are the property of J. Philip Faranda & may not be used without permission

YouTube

We are now posting real estate virtual tours that we shoot on YouTube. We were asked by one of our Realtors if we could do this and found that it was relatively easy to convert our virtual tour photos to YouTube videos. They're accessible on YouTube through a number of search options including the house address, city name., and the David Dove Photography Channel. This gives realtors an additional way to reach prospective home buyers.

March Madness & Real Estate - You Can't Win If You Don't Play

SWOOSH!

As the NCAA Basketball Tournament or "March Madness" gets started this year, it occurs to me that real estate, like basketball is competitive.  Top agents compete for business every day, but the stakes are even higher this time of year, right before the busy spring selling season.  The real estate industry has its own version of "March Madness."

Agents compete for listings.  They compete for buyers.  They compete for market dominance and top of mind awareness among consumers.  It's a competitive business.  So, how's your game? 

Consider these "winning strategies."

Reach for new prospects.  According to the National Association of REALTORS, (NAR) 2009 Profile of Home Buyers and Sellers, nearlyhalf (47%) of buyers were first time home buyers.  Among buyers who were able to estimate a length of tenure in their new home, the median was 10 years.  This spring, if you are relying on past clients for new business, you may be sitting on the bench.

Stand out from the crowd.   Online exposure is abundant, free or nearly free, and a basic consumer expectation.  And standing out as a top ranked player in your market is nearly impossible  if you rely solely on listing aggregate websites for business.  Consider this video from "The Ladders" career site.  \"When Everybody Plays, Nobody Wins\". Particularly in uncertain economic times, consumers rely on the expertise of  the top players.  Do they know you are a top player?  How do they know?  Are you sure?

Keep your sellers happy.  As sellers have to adjust their expectations on price and days on market, the challenge for agents is to show that they are doing everything possible to sell the home for as much as possible and as quickly as possible.  When you have to ask for a price reduction, the seller is much more likely to agree if they know you've done everything you can to get more for their property.  In other words, it's the market, not you.  This is where marketing comes in. 

According to a 2010 proprietary survey conducted by NCI, the number one reason sellers choose an agent is because of the way they plan to market their home to as many potential buyers as possible.  It's also the number three reason they fire an agent or let the listing expire - lack of a marketing plan.

Have a game plan.  Start with your desired income.  Determine how many properties you will have to sell to reach that desired income based on the average sales price of homes in your area and your average commission.   Then, determine how many leads or inquiries you work per actual closed transaction (your closing ratio).  The question then becomes, how many leads do I need to result in the number of closed transactions I need to reach my income goal?  REALLY track where your leads come from and adjust your marketing and advertising for the maximum effectiveness.  For downloadable worksheets on this, go to www.realestatebookmediakit.com/income .

Start NOW.  The 2009 NAR study indicates that the typical homebuyer searched for 12 weeks.  They searched for 2 weeks before contacting an agent.  It's mid-March.  They are searching NOW.  Are they finding YOU? Are you even in the game?

You can't win. If you don't play. 

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