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Home staging, do clients really understand? - 05/31/08 10:21 PM
We can talk all we want about location, price and condition but if the home is ugly inside it is still going to be ugly when you close the door. I just listed a home with a purple bedroom. Now I have to say it was a nice purple...it complimented the bright pink bedroom across the hall with the night glow stars stuck to the ceiling for the little girl. I know it is only paint but can you imagine? Well this was a colorful home. The lime green bathroom made the difference for me. The homes furnishings were simple and (2 comments)
If at first you don't succeed, think of a better way to meet your goals! - 05/31/08 08:39 PM
I have a positive and good news post to share...One of my clients from years past called me this past week to shout the good news that they can now purchase investment property. This couple sure has had their fair share of trials and tribulations in their life...from marital problems, lost 2 homes due to late payments, no jobs for a period of time, and most recently a pole barn fire where they lost cars and some of their family possessions. (they had insurance!) Since last meeting with them, they have both gotten full time jobs (sometimes even 2 jobs (4 comments)
Sometimes you have to be persistent if you are going to achieve change. - 05/31/08 08:19 PM
They finally listened to me and I got them offers.....I have been talking to my client the past few months and trying to convince him that his selling price is too high. Yes, I know the property is his mother's (she passed away last year) and yes, I know she made many improvements to the property (totally new kitchen, all new windows, etc.) and yes, I know that you think it is worth more than any other property around. I told him I understand the sentimental value attached and that I understand he thinks it out values every other property around. (7 comments)
Sometimes we get what we deserve and sometime they get what they deserve! - 05/31/08 07:48 PM
I wrote a post of a call that came into my office a couple weeks ago. If you missed it I have posted a link to it so you can get up to speed. http://activerain.com/blogsview/526478/Sometimes-it-is-a The call came in to my office by mistake. It could have gone to any real estate office with a similar number. The lady on the other end of the line was very distraught. My receptionist...calmed her down and gave her the right phone number and the number of her agent. About two weeks have passed we had a few passing comments around the office wondering what (0 comments)
Sometimes it is a simple word of explanation. - 05/27/08 10:23 PM
It is difficult to remember selling is a very emotional issue. We had a woman call in tears. I heard my receptionist trying to calm the woman down. Her listing wasn't generating any showings...her bank and lawyers were questioning if she could or would sell. This market has shown over and over if you are not priced right no one is going to show your property. The other thing it has shown is if now marketing effort is being made no one will know your home is for sale! This poor woman is in the middle of a divorce. She has the home...listed it and now (12 comments)
You are moving where? From one extreme to another. - 05/24/08 09:01 PM
A friend of my wife's called with some big news...they are moving. The live hundreds of miles away and will continue to live hundreds of miles away in the other direction after they move. The friend was all excited about the impending move. Probably no different than any of us when we have purchased. This is going to be their retirement condo on the water. My wife an I have lived in this same town nearly 12 years ago. We know the area and the condos where they purchased a unit. This happens to be a resort community. They visited the (6 comments)
The fleet footed agent! Can you still run? - 05/24/08 08:17 PM
This is one of those great office stories....that could only happen to someone concentrating on expanding their business. I have a young agent that is wise beyond his years. I will not mention the name to protect the guilty! He was out canvasing a neighborhood dropping off flyers...going door to door. The flyers are informative listing flyers about an open house. He is doing great and finding his methods paying off. His objective is to hand out 200 of these flyers. So he does not talk much unless asked a question, then like any good Realtor he will bend your ear. (10 comments)
Inspections....Hey! where's the furnace? - 05/24/08 07:32 PM
As Realtor's we always recommend clients do inspections on any home before they finalize the transaction. I have an agent that is representing a young couple purchasing their first home. They are looking at taking advantage of the foreclosure market. They are looking at using the FHA program to get into the home with a government assistance. They have looked at many homes and the agent has reviewed many more than were shown the buyers. They found one of the homes that is a great buy priced thousand below market. They made the bid, the bid was accepted and everyone is (3 comments)
Your Memorial Day weekend going to be the same as last year? - 05/24/08 06:51 PM
Is this Memorial Day weekend going to be the same for you as last year? Or are the higher gas prices keeping you closer to home? Our gas prices on Friday afternoon rose from $3.99 to $4.19 for unleaded. I was thankful I was able to fill up before the prices increased. I was a bit concerned when a voice over a loud speaker asked for my credit report before they would pump gas...they must have known it was going to be over $100.00 for my 30 gallon tank on my SUV! I know a lot of people who are not (3 comments)
Who needs a real estate agent? - 05/21/08 07:27 PM
I was discussing the marketing of real estate with a client that feels he is on top of his game when it comes to real estate. He is purchasing a home from one of my agents. I filled in for the agent while he was on vacation out of state. This buyer had limited knowledge of customary issues and real estate is definitely not his game. He is about as savvy as a stump when it comes to real estate. That was evident in the first few minutes of our conversation. This buyer was more interested in impressing me with his knowledge than (7 comments)
Is a Foreclosure the right choice for you? - 05/15/08 06:42 PM
We can summarize foreclosures in three distinct groups...Owner Occupied, Non-Owner Occupied and Bank Owned. This may greatly affect the type of loan you can qualify for and a couple of other key issues. These home are usually "AS IS" which means if you do not have some extra cash you could be buying a "Money Pit" where your extra money is soon gone! The reason your hidden costs for repairs can sky rocket is the owner and lender has not or will not do anything more to the property once foreclosure status has been started. So routine maintenance soon becomes required maintenance. (12 comments)
Is there profit in rehabbing? - 05/15/08 03:06 PM
Rehabbing and selling still is possible but the rules are changing and so is the risk. Right now is a great time to purchase homes that need fixed up, repaired or rehabbed. But the financial side of issues by lenders has taken a twist that may not make it look quite as attractive. Does the 20% down program sound familiar...that is what you may be required to put down in all likelihood. The other issue is if you flip the home before a year you may also face other lender penalties. Is there money to be made in rehabbing? Absolutely, but you (12 comments)
Housing market sales takes another dip....for most...not all sellers! - 05/14/08 10:35 AM
What would you think if you read a headline that says...the average home sales in the US drop nearly 8% from one year ago? Some markets are in double digit decline this is the average! For most of us a headline like that is very understandable. Day after day we are being blasted with news of foreclosures, short sales, subprime defaults and Realtors telling us sales are down. The truth is the figures show home sales are down...so why would this be a surprise? Here is the real headline...."Housing Market Sales take a dip...For Most Sellers....but NOT ALL!" OK, who is (16 comments)
41 % of consumers are not spending...who said that? - 05/11/08 10:45 AM
This was reported on CNN. This was reported by a CNN survey that many families do not view the tax rebate stimulus package as spendable income but money to cover necessities! I actually do not know how most young families make ends meet based on the economic changes of everyday living requirements and costs. Many in the real estate business are having a very hard time...but when you consider the fact that families are at a break even or losing ground with their budgets, it is no wonder foreclosures and home sales are off. They should be. We have to identify the marketing issues we (30 comments)
Trend setters, real estate marketing is more than a yard sign or MLS. - 05/11/08 08:25 AM
Today the marketing aspect of residential property is so much more than a yard sign or inclusion into the MLS (Multiple Listing Service). Don't get me wrong these are very important components of the marketing structure. We have ebbs and flows within market segments. Foreclosures can impact homes on a street where a foreclosed or HUD home is located. This may not be right or correct but selling prices are based on what a buyer is willing to pay not what a Realtor or homeowner says a buyer should pay. Marketing trends and price structures change from neighborhood to neighborhood and sometimes (5 comments)
Tagging gone wrong! Why deface and disgrace those that protect and served with their lives? - 05/10/08 09:31 PM
I usually do not take a stand on any issues that could be inflammatory or create ill will or discomfort for others...but I have an issue that has been smoldering for months. Today a judge settled the issue but in my mind didn't take the penalty far enough. I know that kids do dumb things...they are kids... Teenagers can do some pretty incredible things in the name of being young, not knowing, didn't understand all those excuses. We had a teenage "art student" write (spray paint) graffiti on the engraved names of dead soldiers at our downtown Veterans Memorial Park. I (11 comments)
How can you tell if it is a good time to buy? - 05/10/08 08:48 PM
I hear all kinds of people discussing, asking and considering when is the best time to buy? Well consider this....Money magazine just said for our area...we are going to appreciate 1.9%. This is someone from a birdseye view of facts and figures....Money magazine listed 10 cities they project this growth and even more. So based on what they say this is a great time to buy. Here are some more compelling facts and It is from a real estate broker who grew up in Michigan who has multiple offices, has lived in many parts of the state and travel much of (2 comments)
MLS magic, when you use the power of GRAR numbers to sell - 05/10/08 08:18 PM
We can say all we want about the various types of search engines, optimizing websites, featuring listings and when it comes down to the bottom line it is exposure to Buyers and Buyer's agents. So if you are selling and your home is not on the MLS (Multiple Listing Service) your home is not being exposed to the largest number of buyers. I have a website that is very well positioned with many hits for a regional website...but all my listing on placed on an MLS. Why I want Realtors (Buyer's Agents) and buyers to see my clients listings. Our local (1 comments)
Move that house! Do you care about a survey? - 05/06/08 07:18 PM
I had a buyer today ignore the opportunity to have a survey. The lender does not require a survey so he said no problem the neighbors know what's their...I will live within the lines! I had the buyer sign a waiver saying I informed him of his right to have a survey and he chose not to have one. Now why would I do that? Simple, it is an issue of limiting liability. One big reason...we had in our purchase agreement the buyer was going to get a survey at the sellers expense. During the final negotiation the seller kicked out paying for a (25 comments)
The good, bad and ugly....making clients happy! - 05/03/08 12:03 PM
We have all done more than is reasonable to make clients happy. Clients sometimes feel they are right no matter how unreasonable or ethical the request they make of their Realtor. Most clients are very honest great people to work with and you make life long freiendships as a result of our service interactions. Rarely do I meet clients that I would rather refer to one of those people in our business that deserves them! So they can take each others time and not bother mine. Clients can expect me to: Exercise reasonable care and skill in representing them.Provide the services we have agreed to (25 comments)
Michigan Limited Service Agreement Law causes real estate forms change - 05/02/08 04:55 PM
The Michigan legislature from time to time makes changes to how Realtors do business and how we represent ourselves to our clients. Unfortunately many times these changes are the direct result of someone cheating or misrepresenting themselves to a client. Changes in the lending laws and getting lenders licensed is a one of the most recent examples of legal displeasure by the legislature. They are still working on the final drafts of some sweeping changes. The Limited Service Agreement as it is call or Bill No. 4417 will become effective on July 1, 2008. Who will this bill affect? Based on the language (12 comments)
Do It yourself home safety.....everyday chores can be dangerous, Tips to live by! - 05/01/08 05:55 PM
How many times have you heard how you can save money by doing your own home repairs? I am the poster boy of doing my own repairs. This past weekend something happened to make me think twice about which home repairs I would continue to do. We had a long time Realtor pass of accidental injuries. This was not a car accident or being at the wrong place at the wrong time, caught in a cross fire. He was home working doing a simple task of home upkeep. This is something that millions of home owners do each spring. They get up on (22 comments)
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