real estate: Appraisals are As Much Art as Science - 10/25/07 06:26 AM
The number of home valuation websites continues to grow. A simple Google search for "How much is my home worth?" shows 118,000 results and seems to get larger month after month.
For home sellers, these programs can give a false sense of security (or insecurity!) about at what price a home should … (7 comments)
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real estate: How Much Does a 2,200 Square Foot Home Cost? - 10/02/07 08:28 AM
So, what does it cost to buy a 2,200 square foot home with 4 bedrooms, 2.5 bathrooms and a 2-car garage?
It depends on where you live.
In a study of 317 U.S. markets, Coldwell Banker concluded that the average price for such a home is $422,343.
Beverly Hills, … (2 comments)
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real estate: Investing in Your College Student's Housing - 09/28/07 09:48 AM
For parents with children in college, or nearing college age, this video from NBC's Today Show is worth watching.
Investing in collegiate housing is not for everyone, but if the angle interests you, don't forget to purchase an accompanying personal liability insurance for injuries that may occur on-site.
Something to think … (4 comments)
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real estate: What Happens on the National Real Estate Scene Shouldn't Matter to You - 09/26/07 05:05 PM
The National Association of Realtors® released its monthly Existing Home Sales report for August 2006 and, as usual, you should be ignoring it.
The report discusses real estate on a national level and we all know that real estate is a local phenomenon.
It's not that the report isn't helpful … (10 comments)
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real estate: Quick Marketing Tip - 09/19/07 11:28 PM
Looking for more people to put in your sphere of influence?
Ask to go through all your broker's old files that were handled by agents who no longer work at your office. These files and names belong to your broker. And because these people have already dealt with your office, they should … (8 comments)
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real estate: Open House Marketing Tip - 09/15/07 09:05 PM
I'm sure you've heard of sending out open house postcards to all the neighbors. You might even do it yourself.
But instead of sending an informal postcard that might just get tossed in the trash without a second glance, how about calling the neighbors yourself and personally inviting them to the open house?
Not only … (32 comments)
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real estate: A Great Housewarming Idea - 09/13/07 09:47 AM
Many real estate and mortgage consultants I know give plants as house warming gifts.
That’s a good idea, but plants die.
Another idea is to give a fireproof safe for all their important documents. The safe costs more than a plant, but will last a lifetime. You can get one … (30 comments)
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real estate: Thank You, Zig! - 09/10/07 11:10 PM
Zig Ziglar’s most famous quote is “You can get anything you want if you help enough people get what they want.”
It’s true. Help your clients get what they want:
a nice homea fair pricegreat service.Do this, and you'll have clients for life - clients who will tell all their … (22 comments)
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real estate: If Interest Rates Go Back Up to 18%, What Will You Do? - 09/05/07 11:12 PM
We all know that real estate is a seasonal business. When the economy is good, real estate is booming. When things slow down or when rates go up, real estate goes on life support.
Do you have a second stream of income to protect you not only from the economy, but … (18 comments)
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real estate: Selling a House With No Equity - 09/01/07 08:34 PM
You can’t list a house with no equity.
Well, you can if you don't mind working for free.
You will occasionally run across a listing where the owner does not have enough equity in the house to pay for your real estate commission. You obviously cannot help, but a private … (6 comments)
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real estate: What's The Existing Home Sales Report Got To Do With You? Nothing. - 08/28/07 12:41 PM
When the National Association of Realtors® releases its monthly Existing Home Sales report, people tend to watch every word, fact and figure in the statement in hopes of decoding the real estate market.
It's all wasted energy.
It's impossible to use the NAR report in everyday living because the NAR report … (4 comments)
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real estate: Understanding Real Estate Terms: Absorption Rate - 08/24/07 10:20 AM
In light of today's New Homes Sales data and Monday's forthcoming Existing Homes Sales report, let's review a term that real estate professionals use to describe housing inventory.
Absorption Rate is a real estate term for the length of time required to sell all of a given stock in a given … (3 comments)
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real estate: New Homes "Sold" Is Not The Same As New Homes "Closed" - 08/23/07 09:56 AM
With tomorrow morning's New Home Sales report, markets will get a look at the number of newly-constructed homes sold in July.
The figure is expected to be in the 825,000 range. This is lower than June's 834,000 figure.
But -- as always -- there is more to the story.
When the … (3 comments)
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real estate: Why Private Mortgage Insurance (PMI) Is Suddenly Popular - 08/22/07 09:02 AM
Suddenly, Private Mortgage Insurance is back in vogue. If only by default.
The story background is well-documented in this Bankrate.com article from 2002. The article is five years old, but it still raises some salient points.
What the article doesn't highlight is that second mortgages such as home equity loans are … (10 comments)
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real estate: How Big Will Your Backyard Be? - 08/18/07 10:59 PM
One of the things new homeowners look forward to is having a yard to call their own. So I get a kick out of asking my clients this question: How big will your backyard be?Some people tell me they want huge backyards so their kids can play with their pets. … (7 comments)
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real estate: Are You Eligible To Get Rid Of Your PMI Payments? - 08/10/07 02:18 PM
If you're currently paying Private Mortgage Insurance (PMI) and have been for several years, it may be time to petition your lender to have the PMI payment removed.
Waiting for it to drop off "automatically" may mean you will be stuck with the higher payments for at least five to ten years … (4 comments)
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real estate: Why Downpayments Are Investments, Not Cushions - 08/10/07 02:00 PM
When home prices are stable or falling, home buyers often mischaracterized their downpayment on a home, calling it their "cushion" against falling home prices.
Nothing could be farther from the truth.
Nobody wants to owe money when they sell their home. In fact, when asked, most people will answer that they just want … (3 comments)
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real estate: How To Answer "How Much Home Can I Afford?" - 08/10/07 01:38 AM
Home shoppers know to consider the impact that a new home will have on their household budget and that is called keeping your eye on the ball.
Unfortunately, most shoppers are keeping their eye on the wrong ball.
The proper way to answer the "How Much Home Can I … (0 comments)
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real estate: Ilyce N. Powell Earns Certified Mortgage Planning Specialist (CMPS) Designation. - 08/09/07 11:57 PM
Recognized for its preeminence within the industry, the CMPS curriculum represents the core knowledge expected of residential mortgage advisers, regardless of the diversity of specializations within the industry. Columbia, MD -- (SBWIRE) -- 07/09/2007 -- Ilyce N. Powell, a mortgage lender with National City Mortgage, has passed the qualifying exams to … (5 comments)
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real estate: Maryland Loan Officer Stands Up for Increased Home Buyer Education - 08/09/07 11:50 PM
Columbia, MD -- (SBWIRE) -- 06/29/2007 -- Ilyce N. Powell, CMPS announced today a large investment in increased education for home buyers by joining the National Association of Responsible Loan Officers (NARLO). By joining NARLO, Ms. Powell has agreed to adhere to the strictest Code of Professional Conduct in the … (6 comments)
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real estate: What Are You Doing to Keep Your Clients and Generate Referrals? - 08/09/07 02:12 PM
The answer should be "relationship marketing." When was the last time you sent an unexpected card at an unexpected time to someone you care about? Do you think it would make a difference?
Do you remember people's birthdays and other special occasions? Do you think that matters to them?
… (3 comments)
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