SIV= Imagine Enron, Bank Wide. - 11/30/07 07:10 PM
First, a disclaimer. I am not a banker. I am not a financial advisor. I'm just a Realtor. Please ignore anything that I say.Update 12-1-07: I want to make the concept of SIVs more clear. Imagine this:Bank has $1 Billion making 5%Bank figures they can start a fake company (which is not reported … (17 comments)
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NAR's Lawrence Yun Predicted in 05 "close to zero" chance of a price drop. - 11/29/07 04:59 PM
If a prognosticator expects us to listen to their fortune telling predictions, they should be held to their past predictions.
Over at the Bubble Meter, he uncovered a quote from NVAR's website where Lawrence Yun in 2005 said that there was "close to zero" chance for a price decline in DC.
Why do … (18 comments)
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List Today? Or Wait Till Jan or Spring? Debate! - 11/25/07 07:08 PM
This is part 2 to my: Current Sellers "Wait Till Spring"? Yeah Right. Lose $10,000.
Which focuses on sellers that put their home on the market around September and whether they are better off trying to get a deal done in December, vs waiting until Spring to get a higher price. My … (13 comments)
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Current Sellers "Wait Till Spring"? Yeah Right. Lose $10,000. - 11/25/07 06:58 PM
How frequently have you heard a seller during the month of November or December say that they will just "wait until the Spring to sell for more."
As if they can get a higher price then.
Well don't believe it.
On the one hand I don't believe in data since it can … (9 comments)
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DATA. What Is It Good for? Washington Post "Trends" Herndon up 14%!? or down 26.2% - 11/25/07 12:23 PM
I was reading the Washington Post on Sat November 24 and I came across their "Real Estate Trends" report for Fairfax County. They compared the first 6 months of 2006 to the first 6 months of 2007. They excluded condos and they used data gathered through the courthouse, and not via … (5 comments)
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Buyers! Photoless Listings= $15,000 "Sale" - 11/21/07 12:39 AM
Punchline: Buy homes with No Additional photos= Save $15,000 on a $400,000 house.
Buyers LOVE seeing tons of photos for each listing online. I think Realtor.com said that listings with multiple photos get seen 6 times more than listings with 1 photo. The tendency for buyers is to see a photoless house … (31 comments)
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Video: Arlington REO, Realtor Buys her Bank Owned Home - 11/20/07 09:01 PM
Buy like a Realtor!This post is a link to a 6 minute video showing the process involved in buying a Bank Owned Property in Arlington Virginia, by a Realtor. Megan Buckley, a Realtor with FranklyRealty.com, recently bought her REO home in South Arlington. It was bank owned. Foreclosures aren't as frequent … (16 comments)
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New Va Recordation Tax= $2,000 increase for a $500,000 house. - 11/19/07 01:21 PM
Virginia's Regional Congestion Relief Fee, raises the recordation tax another $2,000 on a $500,000 house (it was $500, soon it will be $2,500).I got an email from my non-ABA preferred closing company.Erin Taylor Rauner, Counsel to Monarch Title wrote: "... pending implementation of the "Regional Congestion Relief Fee"... this fee essentially raises … (14 comments)
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Vanity License Plates. Mine=BLOGIN, Yours? - 11/12/07 11:09 AM
If you see me in my new BLOGIN Realtor license plate, make sure you honk and wave. Do you have a Vanity License plate? Share yours here (with photos if you can). Also note the "FranklyRealty.com" metal "Dealer" car decal for Realtors in the upper right. That is from IREDTags.com Get your … (34 comments)
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Foreclosures in Virginia! The FEVER is back! But is it real? - 11/10/07 03:08 PM
The FEVER was lost for two years, but it's BACK!My Virginia Real Estate blog showcases the trends before you ever knew they existed. This is a new trend, and it is on fuego. Problem is, is it real?The message is slightly different, but the bottom line is still there: Buy Foreclosures, … (9 comments)
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What is "2" in Web 2.0? JOIN NEW GROUP - 11/07/07 05:44 PM
I'd like to take a crack at defining the 2 in Web 2.0. (here is the WIKI definition of 2.0)Many mistake the 2.0 as being simply innovative new websites. But that isn't always correct.The key to being "2.0" is the added interactivity of user input. Blogging is 2.0. This is 2.0. … (8 comments)
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Part2: Affiliated Businesses : Long & Foster's "Partners." Are They Kickbacks? - 11/06/07 01:38 PM
Last night I wrote a blog post that sparked a ton of debate.Part of my message was lost in my winded approach. So here I would like to dissect one issue.The Post reported: "[HUD] spokesman Brian Sullivan said business relationships between brokerages and lenders are common, but cross the line into … (10 comments)
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Long & Foster CEO's Email To Agents Not Using Prosperity Mortgage. Going too far? - 11/05/07 08:57 PM
I rarely write commentary about news articles but this one stood out.
I was intrigued by Dina ElBoghdady's exposé today: Realtor Discourages Use of Outside Lenders, Long & Foster Pushes Own Mortgages, where she questions an email sent by P. Wesley Foster Jr. Mr. Foster to all Long & Foster agents.
… (65 comments)
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Inflated Appraisals: 1st Major Suit - 11/03/07 12:34 PM
When two of my blog readers send me WSJ articles on the same day, you know something big is up.Appraisals 101: An appraisal is a report that is supposed to be a 3rd party impartial review of a property (usually under contract) to make sure the price is in line … (10 comments)
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2008 NVAR Election Results! - 11/02/07 05:04 PM
The results are in for the NVAR Board race! I LOST.BUT SO CLOSE! Out of the 1,400 Realtor votes, I was just 200 votes short of capturing a seat on the 2008 NVAR Board of Directors! If that wasn't good spin, I don't know what is! Isn't it funny how easily … (6 comments)
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Results Show: 30 New Condo Auction - 11/01/07 01:44 AM
This is the Results Show for the Parkside of Alexandria Auction on Sun. Oct 28 at Hilton in Alexandria. As background make sure you read: Parkside Alexandria 47% Off Auction About 300 people showed up. Of which, over 100 were registered buyers with an auction number. About 50% of those … (3 comments)
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