Kim Knapp Blog's on Real Estate & Other Stuff?

Tell Sellers the truth.....

2009-01-06T15:59:55Z

It's a New Year time to stand tall and make a decision to tell the cold hard truth. When you walk into that listing appointment remember they asked you to come because you are a real estate professional and they are looking for guidance and solutions.

Now if your end game is merely to get your sign in the yard then you won't be in the game too long. However, if this is your career you get that it's a bigger picture. The bigger picture... your reputation, referrals, delivering on what you say! Remember you are dealing with folks biggest investment don't make it about you. Once you do you lose.

Maybe your excuse is you just can't be that hard on them, it will hurt their feelings. How would you feel if the cancer doctor felt really bad about your terminal diagnosis so he told you everything was fine come back in 6 months? Too bad you won't be showing to the appointment.

That's what many agents are doing out there with seller's finances. They are over pricing homes to get the listing meanwhile the market is passing the seller by till they are in ruin.

I'm not talking about the seller who won't listen. We all have dealt with them. I prefer to be the second listing agent on those because now they are prepared to listen and I didn't have to spend my money on a house that wouldn't sell.

If it smells, tell them, if it's cluttered tell them, if they want to overprice it for the market tell them. You don't have to be unkind you just need to be honest. Suggest an appraisal if need be.

I would love to hear from some of the best how you handle the seller that is in denial and at the same time really needs to get their house sold.

Keep it real! Consistant! Positive!

2009-01-01T11:35:01Z

Well, we are smarter, leaner, and wiser! There are less Realtor's, Mortgage Brokers, and Wanna Be Inspectors in the business. This is GOOD!

Now that you have rid yourself of marketing that doesn't work, team members that were order takers and people on your sphere list that shouldn't be there it's time to Make Things Happen!

Success is a state of mind, if you believe in yourself first, than your confidence will lead others to put their confidence in you.

Stick to the plan. (make sure you have one)

Stay lean even when you get busier. (save for tomorrow)

Focus on your past customers, current customers and your productive sphere. (this is a referral business)

Have processes in place to keep you on task. (people oriented people tend to get distracted easily)

Give back (you reap what you sow, good or bad)

Refresh Yourself regularly (when you're in a better state of mind you're more productive)

Keep learning (as soon as you think you've arrived, you just became a know it all! Who likes a know it all?)

Make a commitment to step up your professionalism ( Realtor, let's represent!!)

I wish each and everyone of you the best! Happy New Year!

Kim Knapp

Realtor Jacksonville Florida

Fleming Island Plantation Amenities

2008-12-26T17:24:42Z

When we moved here it felt like we lived in a resort. The good news is, it still feels that way. The kids love it and so do we. Walk to schools, the public library, YMCA and more. Want to find out why so many folks are calling Fleming Island PLantation home? Check out the amenities in Fleming Island Plantation? Enjoy the slideshow below!!

Survey for peeps selling Real estate, Inquiring minds want to know

2008-12-26T16:00:14Z

So there is a post out there suggesting that the listing agent be present if possible for all showings instead of using a lockbox.

I just have one question I would like answered by those of you out there in the trenches.

If you are showing homes to a buyer do they spend _____________ time in the home if the listing agent is present?

More
Less
Doesn't matter

Lastly what kind of convo follows when you get back to the car?

"Supra Rocks" conversion is worth the pain.........

I will post my thoughts later.

Fleming Island Plantation Kids Color with Team Knapp

2008-12-26T14:35:54Z

Every Year we do a fun coloring contest for the kids that live in Fleming Island Plantation. Except in this contest everyone is a winner. The kids are always so excited to recieve personalized gifts at thier front door. They work so hard, we hope you enjoy the show. At the end are just a few pictures from the Christmas Parade we sponsor every year. We hope you all had a very Merry Christmas and wish you a very proserous new year.

From Movies

Click on the picture above for slide show!

Countrywide Short Sale Closing

2008-12-24T05:23:22Z

Having closed around 20 short sales this year (not that many by a long shot) I have discovered that some lien holders are so much easier to work with than others.

One obstacle that I have found with many is that it's more about the process than the results. They may get $50,000 less than they could have but by darn they massaged the process.

Let me compliment Countrywide first in that I can always get a breathing human being on the phone that can pull up the account! Can't get too far without that. Last week I decided my part time job was calling Wachovia. ie.. "We are experiencing a high volume of calls please try your call again later" UGH! Once I got a live person and she asked me a question. I said, " I'm sorry I didn't understand did you ask for the account number or borrowers name?" She said, " Can you hold please?" SILENCE for 15 minutes. I think I was lost to never never land.

Back to CW. So they answer the phone, they have worked to stream line the process, however it's still a crap shoot on who the negotiator is, did your file fall off a cart or airplane, and do they understand what they are hearing and reading. After working on a short sale since 9/11/08 we are closing today due to a higher up yesterday making an EXECUTIVE decision before I jumped off of a small bridge. Merely for the drama affect.

The approval letter was wrong/short on the closing costs by $7,000 but the net to CW was low by $17,000. The negotiator said that if we didn't fly with it the process would start over. Hello? I explained this is a net gain of $17,000 even with the closing cost change on the approval letter. We had discussed the details and the only outstanding item was the seller contribution. How did the terms change. She then went on to email me the prelim HUD from Sept when it first started.

That's when I started pulling my hair out. On 11/19/08 The negotiator acknowledged receipt of all the changes everyone agreed to including a new prelim HUD reelecting those changes. WOW.

End of the story, she was not interested in talking to me or helping me. Believe I understand you catch more flies with honey. This beehive was dripping. However it was time for action. I was able to get her supervisor on the phone at the 11th hour. He said because of the net gain and it already being approved he could sign off on it. Merry Christmas after all.

Luminary in Fleming Island Plantation

2008-12-16T11:07:21Z

Get Reaaaaady!
Fleming Island Plantation is teaming up for the first time with Pine Castle for the First Annual F.L.I.P Night of Lights.

Who is Pine Castle, Inc? Pine Castle, Inc is the largest non-profit organization in Northeast Florida providing opportunities to adults with developmental disabilities.
Whats Included??? We have a deal for you. They have put together Luminary Kits that include 12 ten hour votives, 12 white bags and 2 bags of sand... all for only $7.00!
Why is it so special to do? Glad you asked. One of the many traditions behind luminaries was that if it was a foggy night these lights would help guide Santa Claus safely to your home. So lets help Santa out so all 8 tiny little reindeer know exactly where Fleming Island Plantation is.
How do i get my kit? Simple... all you will need to do is come to the Amenity Center to pick your Plantation Luminary Kit up. It's that easy my friends. Call 278-8613 for more information.
Let's show our holiday spirit and light up the curbs of each and every community in the Plantation.

Fleming Island Plantation Santa Parade

2008-12-16T10:59:24Z

Fleming Island Plantation 5th ANNUAL SANTA PARADE!

Another year passes and guess what... the kids in Fleming Island Plantation must have been really good because Santa is coming back folks! Mark your calendars this Saturday, December 20th.

This year Santa decided to bring some of his good friends from the North Pole down here for the visit. Frosty, The Grinch, and we can't forget Mrs. Claus too!

Santa will start at 4:15 and travel down every street in Fleming Island Plantation with candy and treats for the kids.

This Saturday, December 20th is a perfect evening to sit outside with some friends and neighbors. Look for the squad car leading the parade.

We would like to personally wish everyone in the Plantation a joyous and peaceful holiday season. Merry Christmas from Santa's Little Helpers, Team Knapp at Vanguard GMAC.

IS YOUR MICROWAVE A BREADBOX

2008-11-24T07:02:00Z

Well, well, well, we laughed at our grandparents when they thought the microwave was a breadbox. Thank goodness for Active Rainers or we would soon become dinosaurs.

Zig Ziglar said, "You can have everything in life you want, if you will just help other people get what they want."

Now here we are:

•· Tweeting

•· Podcasting

•· Blogging

•· Streaming

•· Feeding

•· Drip campaigning

•· Social networking

•· Uploading

•· Downloading

•· Digital Capturing

•· Virtual everything -- assistant, tours, reality

•· Texting- I text my customers during a deal all the time. They love it!

•· Web 2.0

•· Voices

•· Tubing!

Then there is the basics

•· FSBO's

•· Expired

•· Farm

•· Network

•· Sphere

Daily

•· Coordinate too many hands in the pot to close our transactions. Enough Said. Finding balance is key, while not getting lost while at the same time recognizing that how the Y generation is going to consume will be much different. Check out this amazing video below. It will blow you away!

Did You Know?

Lastly, checking out the daily blogs on active rain can be one of the most powerful tools you have. There are so many incredible folks willing to share so much. Search the blogs and you will be amazed at what you will find. The work has been done for you! Honestly if you don't know ask. There is someone in the rain that will help!

"You were born to win, but to be a winner, you must plan to win, prepare to win, and expect to win. " ZIG ZIGLAR

The Wild Party, the Hangover, and Rehab..... Where are the success stories?

2008-11-17T15:29:26Z

It was 2003 and people where starting to show up to the party. If you got there early you didn't really know how many people were going to show up. Once they did the scene was crazy.

Agents, (new franchises by the dozen) buyers, sellers, and lenders everywhere, it was the ultimate pick up event. Buyers outbid other buyers for homes and were never happier, probably because they felt as if they had won. Agents worked with sellers they didn't like. That's okay the house will be sold in a week. Agents left the party with buyers they didn't know. (Ahhh, they were buying right?) Buyers worked with agents and lenders they picked up at the party. They couldn't remember their names the next day but so what they bought a house.

We were buying advertising like it was a new bauble. "Hey, that's really cool give me 2 pages will ya?" The advertisers were drunk with love for us and always coming out with another place we would want to see ourselves. How much was all this costing anyway? Does it matter? Naw, we'll just find us another buyer at the watering hole.

Then someone had the nerve to turn the music off and the lights on. What was left, too many agents and lenders without reserves, sellers upside down on their homes and buyers without money. Boy that was some party!

Time for a little personal reflection. Some folks got out of the biz, that's okay they needed too, others though went through rehab.

· Why am I am I in Real Estate?
· Do I work better with Buyer or Sellers?
· What's my Budget? Budget is that word in the dictionary?
· What's my business plan?
· Have I created relationships with other agents in my market? Or do I have some making up to do for my bad behavior during the party?
· Do I even have my database together? Ughh
· Sphere - Is that a circle thingy?

I am happy to say a lot of great agents have come out the other side. Will you share with us, "What's the one single greatest thing you learned?"

For me it was, "I didn't have to outspend my competition on marketing. I had to learn to say NO." Actually it's really easy. Try it... No, No. See it only takes a second, calls over and you didn't spend they money you don't have to impress other agents when the consumer is the one we need to impress. Hello! (disclaimer, we need to impress each other with the service we provide)

Share some love and tell us the best you learned____________.

and Tired Always follow sick. Goodmoning America!

2008-09-08T06:49:56Z

Welcome back to the Land of "I'm no longer depressed."
It's so nice to have you all back, the party has been very quiet without you, hence the reason we waited for you to get here! I get the feeling everyone is Tired of being Sick and Tired. Why even the media has grown weary of perpetuating the gloom they once seemed to enjoy so much. maybe if they play nice we will advertise with them again someday. LOL
Seriously though I love this country and America's spirit. We have learned to make lemonade from lemons. Reflecting back on mistakes and try to find ways not to repeat them. The reason I write this is I have seen a noticeable difference in folks. As a Realtor I am busier than ever. Hmmm...

I believe at some point you just decide to pull yourself up by the boot straps and come up fighting because life isn't waiting for you. Take buying a home for instance. Do you want to make a wise buying decision YES of course. Is your house a Bank, NO. But that became the mentality of consumers over the last 10 years.

Let's reflect for the younger readers. Do you remember the day when you saved your 20%, looked for the home you wanted to raise your family in, make your own over the years and create your memories? Then you focused on paying it off. Well welcome to the new millennium, That became such a dated idea, "I mean who does that?" (note the sarcasm)

The new idea was move every 2-3 years, use your home as in investment. Well that worked for a select few that carefully timed the market. But using your personal residence in your investment portfolio is probably not a good plan. (hindsight is always 20/20).

I see folks having a completely different mindset these days. I'm tired of the bad news, I'm not going to waste money on renting, I'm going to make a wise buying decision that I can afford, how can I pay off my home and plan for college for my kids and what payment do I need if one of the wage earners decides to stay home? Do I hear LONG TERM PLAN? You bet ya! It's really the best thing that's happened in a long time.

The best inventory is selling in under 30 days (that's great), Gas is finally heading in the right direction, rates are still historically low, elections will be over soon, (maybe then we can move ahead without having to worry about who gets the credit)

So yes there are some turbulent times ahead as we work our way through the inventory, the unemployment rate and energy. But I'm encouraged and not suprised to see that America is up for the fight. So as you put away your cartons of Haagen Daz, and step out into the sunshine make sure you tell someone it's gonna be alright!

Real Estate Acronyms, Can Someone Speak English

2008-09-08T05:37:04Z

I was working with a first time buyer the other day and realized that the longer one is in the real estate business you begin to speak in code. Not on purpose mind you just a bad habit. Oh it makes perfect sense inside your own head. Ah, but if you could only hear yourself speaking in consonants you would realize that your customers are mearly nodding at you and smiling.

I have decided that to put together my Top 10 Realtor Acronyms. Not to steal a Mortgage Lenders thunder I will leave those for one of you to reply. I realize there is another unique list.

DOM Days on Market - How long a home has been listed for sale or rent
HUD (Department of) Housing and Urban Development -The Government Regulated closing statement
CMA Comparative Market Analysis - Market Value Range a home will sell in
CDD Community Development District - (a tax collected for the infrastructure and usually the operations and maintenance of a planned community (PUD-freebie planned unit development)
CO Certificate of Occupancy- House is in compliance with building codes and is suitable for occupancy
FSBO For Sale by Owner We (Realtors) pronounce this as if it's a word
HELOC Home Equity Line of Credit (sometimes I will ask a seller if they have a HELOC (also pronounced as a word) , I usually get a puzzled look as if it's an exotic pet. Then you realize when they went to the bank they went to get an Equity Line.
REO Real Estate Owned - By the bank after an unsuccessful auction on the court house steps. Which is happening more often due to a homes value being less than what is owed.
SFR Single Family Residential
ASHI American society of Home Inspectors "Make sure you get and ASHI inspector" What is that? Especially in Florida we encourage some form of certification. Not until 2010 will Inspectors be required to be licensed.

There are 30 others to choose from, this was simply to get the wheels turning. Often times folks do not want to tell you they don't understand, so they just agree. It's kind of like me talking to the Doctor. Don't dazzle me with terms I don't understand, speak to me so I do!

Do you live on the Island? What Island? Fleming Island!

2008-08-22T13:08:06Z

As of August 1, 2008 going south on Hwy 17 from the Dr's Lake Bridge to the Black Creek Bridge then from from the river east of CR220 to the Swimming Pen Creek Bridge by Whitey's Fish Camp it is all officially Fleming Island Florida.

Before that the southern part of Fleming Island had a Green Cove Springs mailing address. Does that make everyone on Fleming Island an official Islander? I say why not?

If you're going to live on an island in Florida there's not a better place to be. You have access to the St Johns River, as well as Dr's Lake for those skiing and knee boarding boat days, along with great schools, places to eat and shop with just enough barrier from the brunt of the storms.

Don't forget the "A" rated schools and close proximity to NAS JAX

I'd say Fleming Island living works for me.

Fleming Island Plantation Can You Say FUN

2008-08-22T11:39:22Z

Fleming Island Plantation has a little something for everyone when it comes fun in the sun. That's not all but we will get to that later. they say a picture speaks a thousand words so let's start talking...

Activities are planned on a weekly basis by the amenity staff for all ages year round. It makes it so easy to meet new people. There are 3 pools that include a family pool, lap pool and a tower slide pool, tennis courts, basketball courts, volleyball and more. There are miles of bike and jogging trails along with shaded park benches for those

quiet moments.
The Village Square has restaurants and professional services available to everyone. And don't forget it also has a beautiful 18-hole Bobby Weed championship golf course with a clubhouse that serves lunch and dinner. Close to shopping, having fun and eating out, there is something for everyone on Fleming Island Plantation! Below is a list of some of the activities.

Floating Flick Night
Tennis Mystery Doubles Kids Craft Day
Story Time on the Magic Carpet
Family Movie Day
Tennis with Coach Jack
Nifty Fifty Club
Summer Concert's at the Gazebo
Water Aerobics
Swim Lessons

Book Club
Summer Yoga
B-I-N-G-O
Ice Cream Social
Resident Christmas Party
Breakfast with Santa
Events at the Golf Club Adult Resident Parties

Another day in Fleming Island

2008-07-09T20:31:58Z

Living in Fleming Island can really be like being on vacation. This last Saturday my husband Tom and I were having breakfast and planning our day. It went something like this.

Tom -" Want to go swim some laps?
me-" "Sure sounds like we could work off some of our breakfast."
Tom- "Cari mention she was renting a boat to go out on Black Creek this afternoon, want to meet up with her? I think she said 1:30.
me-"that sounds good we can check out that rope swing the boys have been telling us about." "After that let's do Domenics Pizza and Some Maggie Moo's."

Tom- " That means you're going off the rope swing today too right!"
me-"Ugh!"

Tom -"I read in the newsletter that tonight is Floating Flick night at the pool."

me- " What movie"

Tom- " I think it's Water Horse, we can bring our noodles, some water and relax...

me- " Sounds like a plan. We'll need it after today! Just another Day in Paradise."

NEV-Neighborhood Electric Vehicles in Fleming Island, Should I get one?

2008-07-09T19:56:36Z

With the price of gas going up it may be time to consider a NEV... Actually living in The Clay County area there are many planned communities it can really make sense. With so many 25 mph roads that connect to everything, schools inside the community along with shopping, libraries and after school activities it just may be worth it.

NEV is an acronym for Neighborhood Electric Vehicle. A NEV is a street-legal, battery-powered electric vehicle that is limited to roads with posted speed limits of 35 mph (60 km/h) or less. They usually have a top speed of 25-30 mph (50 km/h).

NEVs are well-suited for use in small communities and commercial complexes, and on campuses where getting from one point to another does not require highway access.
Originally, these were oversized golf carts, usually seen in retirement communities. With ever rising gas prices, they have caught more attention and improved designs and features. NEVs are great alternative travel solution for people on the move. They are perfect for driving in and around city centers, master planned communities, resorts, industrial and college campuses and military bases. They are also a great first car for young, new drivers because of the slower speeds

With a cost of just pennies per mile (about 56 cents per full charge--only 2¢ per mile!), by using a NEV for local driving and errands you can considerably cut down on fuel costs. Especially since short errands are the most inefficient trips for gasoline powered cars. Between 50% and 80% of trips are less than ten miles from home. That is the perfect range for a NEV. They are perfect for running errands, to stop at school or just to pick up a few groceries. I have almost talked myself into, now if I can just talk Tom Knapp into I'll be on my way to my next decision... What color NEV should we get?

Want your Listing to get ATTENTION

2008-06-16T15:12:53Z

First let me say that Northeast Florida has some of the most amazing professionals practicing real estate. I'm thankful to call many of them friends from every company albeit ReMax to Prudential, Coldwell Banker to Watson and of course my personal favorite VANGUARD/GMAC

However there are still those left over from the order taker days of the real estate BOOM! One thing that drives me crazy is why in the day of digital technology can't we get an interior picture or two of a listing. Consumers have so many choices to pick through to determine what they will look at. When a listing has only a front shot it tells the buyer one of two things, one it would be anti productive do to condition or two the agent is lazy. Either way the listing loses. Digital pictures are free. You take the picture, upload then delete from your camera then start over, wallah!
Now if the house needs straightened up or staged then time to get the seller on the team. This is no time to not care about the difference a little elbow grease can make you! Even if a home is not a show stopper, cleaning up all the clutter, doing a little pre-packing (boxes in the garage are much better than too much clutter you can't see the house), washing the windows and cleaning up the landscape can not only make the difference of if you sell or not it will make you money with little or no investment other than time!

If you want to take it to the next level, stage it! Look at the pictures below and compare then I will tell you a story about market and staging!

Both slides say the exact same thing, both homes are in the exact same neighborhood, interestingly though the house on the left was listed for 35,000 dollars more. Both homes are 3 bedrooms 2 baths. The home on the right was 200 sq ft smaller and big surprise SOLD. The home on left is now off the market.
How a home is presented makes all the difference in the world. It is not a judgement on the owners taste or style. Too many times the seller will take this personally. This is the seller recognizing that they are taking their home and transforming it into a product that will be the most expensive purchase that the prospective buyer will make and it needs to be appealing to the masses not only a select few. It's a a bad plan to say the buyer will just have to get over it. Remember it is the seller that is trying to entice the buyer.

Let's look at it like this. What is the first thing you do when you go to sell your car? Hmmmm? You wash it, detail it, vacuum it, maybe Armor-All it. Why? To attract buyers and get top dollar. Now there is something else you do. You go to the Kelly Blue Book and see what kind of price you are looking at based on condition and features and mileage.

Now after you have done that you take that information and look at your local swap sheet and see what your competition is. Now if you're smart you will position yourself accordingly.
Mercury Mountaineer 2001 65,000 miles Value $7,500. Current listing range from $6,800 to $8,000. There are 10 for sale in your zip code. You strategize and decide to list your SUV for $10,200 just to give you negotiating room. The problem is there isn't anyone to negotiate with. Why? The buyers have the same information you do. There are 10 others to choose from in the right range, why call on an overpriced one you anticipate will be difficult to deal with ?

We come to next and most important point. PRICING! This has never been more important than it is today. You cannot market an overpriced house into the hearts of the consumer. It's a false lie. LOL Just think about it. Buyers will buy value, Buyers will work with reasonable people, Buyers enjoy a home that is appealing (smells nice, clean, uncluttered) If you were buying what would you do?

It kills me when I hear sellers insult Buyers from California. They act as if they are totally detached from reality, they will hire a clueless agent and overpay no matter what because everything in Florida is a deal. If that is your pricing plan don't start packing. So what am I saying?

Strategic Pricing

Condition

Marketing & Exposure

Equals Sale

Your listing agent is not supposed to be your best friend that tells you what you want to hear and agrees with you on everything to get your listing. They need to be like a Doctor delivering the diagnosis along with the prescibed treatment good, bad or indifferent because it's in your best interest not theirs.

What if your Doctor had bad news? He read your chart and discovered you had a chronic disease. He knew you would not receive this very well so he walk into the room and says " Hello Mr. Patient everything looks great, see you again in 6 months" You leave and he hopes maybe before then if you don't change Doctors he will find a way to tell you next time. In the meantime this is affecting your life in a real way. NOT GOOD!

When you choose a listing agent make sure they've got game! What kind of a track record do they have? Can they look you in the eye and tell you the hard stuff.? If they can't do it now will they be able to do it later? Get a referral from a friend. Make sure they have a marketing plan. Comps, Sold-Pending and Active should factor in to your competitive position. They should have helpful thoughts on staging and preparation. If you don't have a direction to go in we would love to compete for your business or if your an out of town agent receive your referral. Kim Knapp 904-334-7425

Short Sales

2008-05-23T07:50:35Z

Well, I'm going to address the difficult topic of Short Sales not just from the prospective of the seller but from the prospective working with the buyers. There is a link above that explains what a short sale is and it's for educational purposes.

I have become increasingly frustrated with the number of short sales that are not "for sale". Let me explain, you take your buyer out and show the 15 homes and the one they fall in love with is a "short sale". That's okay I can live with that. I have already closed 8 this year. So where's the problem? The problem is that if the seller and their agent do not understand the process it's like a slow boat to China without enough gas to get there. So I said all that to say this. Before even bothering to look at a short sale here is the test.

Call the agent and ask..... Drum Roll.......

Have you closed a Short Sale before?
Has the lien holder been notified of the intent to short-sale and have they agreed to this? (why) If there was Mortgage Insurance they may not agree.
Has the complete short sale package been sent to the lien holder AND have you confirmed receipt?
What communications, if any, have you had with the bank?
Have you the seller been assigned a Loss Mitigator?
Has there been a BPO? Did you meet the BPO agent? Did you get the results back? Has the bank approved the list price?
Have you received any other offers that you are waiting to hear back from the bank on?
Is there one or two trusts? Any other liens? (This can complicate things)
What are the names of the banks? Are these FHA or VA loans?
How long do you estimate that the lender will take to provide an answer to an offer?

Now if you can happen to get knowledgeable answers to these questions you have yourself a "Short Sale Opportunity" Prepare you offer, get your pre-approval letter and make sure that it's written so that if the LIEN HOLDER does not respond in your required time line you can move on!! Otherwise with the seller signing the offer you are now in a never ending contract. Also require that all contractual time lines begin when LIEN Holder accepts offer.

Unfortunately I have found that more often times than not when I make these calls I get silence. It's a disservice to our customers when we take their listings without knowing the process. It's better to refer it until you figure it out.

As far as listing short sales, after attending 2 training classes and having success (we are 10 for 10) feel free to send your short sale our way! (if the seller qualifies)

For sellers: if you need help determining if you qualify let us know!

Do you really want to sell your home?

2008-05-08T11:34:36Z

I am compelled to write this. I often times get called in after a home has been listed for 6-12 months with another company. The seller wants to know why their home hasn't sold. Most times it has been due to their price consistently trailing the market. Denial has cost owners 10's of thousands of dollars.

Gone are the days where you can overprice a home and think buyers will look anyway and make an offer. They have so many homes to choose from why deal with an overpriced/in denial seller. It's a tug of war, not against the buyer and seller because the buyer doesn't perceive that home as an option. The tug of war is between the seller and the reality of the market.
The fact is this drives down prices. By a seller holding out until the surrender it's too late for the initial suggested price. the market has moved again. See Below

Home should be listed at $250,000 (from $200,000-$250,000 there are 53 homes for sale)
Seller prices it at $275,000 (from $250,000-$300,000 there are 62 homes for sale)
That's of a total area inventory of 463 homes ranging from $100,000 to $2,000,000. That is a huge chunk of the market.
After 6 months seller reduces to $264,500 (Unfortunately the $250,000 ship has sailed)
The seller considers $250,000 and is not happy about it. The bad news is the price should now be $240,000 with a likely sales price between $220,000 and $230,000
10 months later new price $250,000 (offers start coming in at 200,000)
Final Sales Price $218,000
(Due to the comparable properties that have sold during this listing period this is the highest and best price the market and this property can demand and substantiate with the lender and the buyers)
If the seller in this scenario had listed at $250,000 when they needed to , they would have sold closer to $240,000. That is a loss of over $22,000 dollars. Unfortunately we have seen this same scenario with much bigger losses. Once prices have moved property owners will have to wait for incremental increases to begin that will most likely be very modest compared to what was experienced in the past. That being said, it would take 4 years for the owner in this example to get back where they started with $250,000.

When you begin to factor in double mortgage payments, maintaining more than one home the loss is even bigger. If you really want to sell your home, find out how much competition you have and where they are priced not just what has sold. You have to cause the buyer to choose you. You want to be the Bride not the Bridesmaid!!
Appraisers are having to include active and pending sales in their appraisal to assure the lender not just of past sales but where the market is and where it is going!

Be realistic, view your competition.
Why are the ones that are selling going under contract?
Did those buyers even look at your home?
Why not?

Waiting will cost you. Be the leader not the follower. The sales that go before you set the market. If you don't need to sell now and you don't like the price take your home off the market. It's only driving down prices even further. Prices went up when buyers were fighting over the sellers. Prices go down when sellers are fighting over the buyers. Less inventory, less choices prices stabilize. Supply and demand in balance=healthy market!

Buyer Analysis Paralysis

2008-05-08T11:32:49Z

You walk into Blockbuster on a Friday night looking for just the right movie. You have money in your pocket and a mebership card in your wallet. It's been a long week, you need to relax and you're open to just about anything. Maybe a comedy (a Little laughter might be good) action adventure (journey to new places, living on the edge) romantic comedy (always light fare leaving you feeling fuzzy) drama (mmm, no you already have enough) so many to choose from.

You see the end cap with the hottest new movies and make a mental note of a few then move onto the NEW RELEASE WALL. Everyone has a different strategy on this, some from A-Z others prefer Z-A. You start thinking out loud, " I've seen that, that didn't get good reviews, Oh they're out of that one (next time I'll get that), I don't like her in films, I guess I'm not in the mood for a romantic comedy, Mmmmm?, I heard that was stupid, my husband really doesn't want to see "Ya Ya Sisterhood", (then you look to see what other folks are picking up) Ugh! don't they have anything good?

You take one quick pass through the interior movie shelves and determine nothing really looks good. You consider your options. You could just go home and watch a movie you already have, watch TV, maybe you'll just take a bath read and go to bed early. That sounds like a plan. You proceed to walk out of Blockbuster that houses more than a few thousand movies without one. What is that?

Welcome to the world of Buyers! Analysis Paralysis! They totally set out excited about buying, open to options, wanting to see what the world of real estate holds for them. Determining the price range they begin. There are 67 homes in their price range! WOW, where do they start? I will tell you that they will miss any homes that are real winners that are just out of a price range. ie $305,000 instead of $299,000, $155,000 instead of $150,000. Consumers look in blocks of $50,000 normally. There is no need to look a little higher or a little lower. There are too many to choose from already.

You now have an overwhelmed buyer. Looking back 2,3 and 4 years ago respectively, buyers had 4-5 to choose from. That was it! Out on property they begin thinking out loud, " this kitchen is a little small, there's too much stuff in this house I can't tell anything, the yard needs a lot of work, these paint colors are awful (even though it's just paint), I would really like that one if..., I don't care for this neighborhood, Ugh! They begin to feel discouraged, maybe I should wait for the new release wall (new listings). In the meantime they go home empty handed.

This is unfortunate for the buyer because there are truly some great buys out there. The rates are very desirable as well as sellers are often times agreeing to down payment assistance. This may be going away soon so don't wait. FHA has been given new life and has many pro's that's allowing more buyers than ever to get into the market place.

In the meantime sellers that want attention need to make sure they dot all their i's and cross all their t's. First and foremost PRICE! Get it right sooner than later. You can't fool the market only yourself. How's the curb appeal? Get rid of clutter, Neutralize walls and decor, Make it smell great (not smell on smell), Get your marketing on!!!!!

Leaving Fleming Island- It's Too Far!

2008-05-08T11:29:47Z

What Island? Fleming Island. Too far? I just think it's funny that most folks after about a year after moving to this incredible bedroom community they are stricken with the TOO FAR Disorder. You don't realize at first you have it. The signs begin when you are thinking of eating out and someone suggests somewhere on Wells Rd in Orange Park and you hesitate and say, "I don't know if I want to drive that FAR." For those reading this let's explain exactly how far that is, 9 miles or 15 minutes. You go ahead and go but complain that next time your "staying on the island"

Then it happens again, another symptom appears. It's time to go out with friends and they suggest a movie and dinner. Your response, "We really need a movie theater on the island. Why don't we go out to eat somewhere around here then just rent a movie and go back to our house?" Everyone considers the alternative, leaving the island, and all quickly agree to the rental option. TFD is rapidly becoming a part of you and you don't even realize it.

Then it's the final confirmation that you have TFD. One of your friends suggests an afternoon of lunch and shopping. You enjoy going to St Johns Town Center but you find yourself really having to think about this. I mean you love to shop right? Lunch at PF Changs would be great right? Then you think, "well that's too far we could just go to the Orange Park Mall. Mmmm? No, that's to far too. How about Stein Mart, Kohl's, and Chili's? We could always go to Piece of Cake for dessert if we feel like living large. You run it by your girlfriend who is already stricken with TFD and she says, "That's exactly what I was thinking"

You have TOO FAR DISORDER!
ps. someone just told me they were so glad the new Publix was going in because the existing one in Fleming Island is just too far! This appears to be a severe case of TFD. It seems to be spreading rapidly.

Science Fair Projects

2008-05-08T11:19:20Z

You may be wondering what inspired this post. As we just got through the holiday season many parents and their children where discussing their science projects. Operative word THEIR. I realized that though my son is a straight "A" student, does 2 hours of homework a night and sometimes brushes up before school again, we as parents have been actively engaged in doing 3 science fair projects. Now I don't want Jason to be offended because he has worked hard on all of them!! However so has Tom Knapp (chief planner) and I'm in charge of computer stuff (sounds high tech, like printing headings etc...).

Right away you realize in order for your child to really do well it has to be a family affair. Not a bad thing mind you. It's good to be involved with your childs education. Where it gets out of control is when the parents start competing and taking the project on as their own. You know which ones they are. As you cruise the library previewing all that these great little minds have come up with, they stand out and say look at me!

For those of you who have never had the good fortune of seeing one, they are done by professionals. They include graphic design, photo shopped pictures, a hypothesis in 4 languages, and about $100 worth of bling!

You know this all started in kindergarten when your child was given a heart to color and decorate. My kids heart would come back in a kaleidoscope of colors all outside the lines. That's okay, they were so proud and so were we. Ahhh, but there were others. There were the ones that were outlined in a dark shade of red, lightly colored inside, for extra detail gems were added at strategically chosen locations, often times glitter was included and for the major over achieving parent it would be cut out and glued to a heart shaped doily. The kids job was to pass the appropriate craft tool to the parent on request.

What's the point? It's great to be involved. It's important to be involved! It's necessary to be involved!! So are the children. But remember they're kids.

The 411 on How to Forward an Email

2008-05-08T11:17:35Z

I'm not writing this to offend anyone it's just a personal pet peve. Have you ever recieved an email that's been forwarded 100 x's from half way around the world. It may even be something that comes in the form of an attahcment in an attachemnt in an attachment. It also includes more email address than Paris Hilton's address book. By the time you scroll to the bottom it's almost time for a new hair style. Okay maybe that's all a little extreme. But here's the solution.

Option 1) Hit the forward button, highlight the junk and delete. It's also more personal to delete the forward out the subject line of the email. This will make it more likely that the recipient will open it.

Option 2) Highlight what you want to forward and then hit forward. Continue then as above!

This may be a little anal I know, however I know some of you are reading this and thinking I'm going to send this to so and so. It's okay I realize it's all for love.

Embracing Turning 40

2008-03-07T11:05:08Z

First let me say this blog was birthed from making jokes at the office about turning forty. Let's be honest though in every joke is a kernel of truth. So let's just get this out of the way, "I'm officially turning forty this month." Hence the jokes, I figured it would be easier if I lead the way.

However the more I think about it the more I realize that wild horses couldn't drive me back in time! This is me personally mind you:

I would not want to endure the dating scene (ugh)

start over raising teenagers (I wouldn't survive)

deal with all the immature girlfriend stuff of college and your 20's

I wouldn't want to hang with crowds that were wearing parachute and gaucho pants and feel compelled to join in

I wouldn't want to wear jeans I couldn't breath in or shoes that looked killer and felt killer too!

I couldn't go back and put another hole in the ozone layer with my personal arsenal of Aqua Net. (you know you have one too)

I would not want to trade in Guitar Hero for Atari (maybe space invaders? Mmm?)

In our thirties we realize who our friends really are, start to really identify our values and come into our own. What am I saying? By the time your 40 you've learned a great many things. That's where my list of TOP 10 REASONS to EMBRACE TURNING 40!

YOU'RE wiser, After decades of burning the candle at both ends- by saying yes to everyone, you have finally learned when to say 'no'

A LOT has happened in your life which makes you a better person to sit next to, according to actress Jodie Foster. She said: "I think women are more interesting in their 40s. They've lived longer, they're more confident about their choices and they don't have to be hip and cool any more, which I think is a godsend--you make really bad choices when you are trying to be hip."

THERE'S no need to join Facebook or Bebo - you know who your friends are already

A woman over 40 will never wake you her husband in the middle of the night and ask, "What are you thinking?" (Oh Please)

YOU lived through the Eighties the first time around, which means today you're wise enough to avoid hideous style revivals like luminous clothes, jump suits and leg warmers. (just for fun don't share this wisdom with your teenage daughter, this must be earned)

You stop worrying about what people think and begin being true to yourself. (No more pleasing people that don't like you anyway) "At the age of 20, we don't care what the world thinks of us; at 30, we worry about what it is thinking of us; at 40, we discover that it wasn't thinking of us at all."

Concerts-You have more concert choices than your kids Why? "The Reunion Tours!"

It's now culturally official-Woman over forty are given the approval nod on the 1 piece bathing suit. Thank goodness! (To tell the truth I surrendered in my early thirties due to my body's betrayal)

You realize age isn't a number but how you feel! "Age is an issue of mind over matter. If you don't mind it doesn't matter!"

It's HIP to be 40! Julia Roberts was born on 10/28/1967, Nicole Kidman was born on 6/20/1967, Halle Berry was born on 8/14/1966, Celine Dion was born on /30/1968, Salma Hayek was born on 9/2/1968, J.K. Rowling was born on 7/31/1965, Shania Twain was born on 8/28/1965, Elizabeth Hurley was born on 6/10/1965, Cindy Crawford was born on 2/20/1966.

In biblical terms the numerical number 40 has significant meaning. Think of the 40 days and 40 nights of rain floods of Noah. It took the Israelites 40 years to enter the Promised Land, and Jesus spent 40 days in the desert. So, again I say embrace entering the Realm of 40, and remember....

"Life should NOT be a journey to the grave with the intention of arriving safely in an attractive and well preserved body, but rather to skid in sideways, chocolate in one hand, beverage of choice in the other, body thoroughly used up, totally worn out and screaming ~ "WOO HOO, what a ride!"Author Unknown

Found a Buyer Now What?

2007-10-10T10:27:40Z

FOUND A BUYER, NOW WHAT?

The seller is batting! The buyer is pitching. The game is on! A good negotiation is a win win, you want to make sure your transaction is a home run! Exposing your home to the entire market place in order to obtain the right buyer goes without saying. You can't get out of the batters box without a buyer. However, it's at that point that the game begins. Often time's sellers are focusing on one thing and that's the price. Understandably so, but there are many pieces to the contract puzzle and that is just one.

Here are some things to consider. First, is the buyer approved? Meaning the Loan Officer has actually looked at their credit prior to extending the pre-approval and verified funds. There is nothing worse for everyone involved but to find at the end of the transaction that it's not closing because of financing. All packed up and ready to go, the house is no longer in show condition and it's time to start over. The good news is that almost 99% of the time this can be avoided.

Second, are there any contingencies? Does the buyer have a house to sell or to close prior to closing on yours? If they have a home under contract waiting to close, how solid is that contract, the buyer and their financing? It's very important to understand how each one of these situations can affect your closing. You don't want to find yourself at the end of a domino effect. A professional Realtor's knowledge can be invaluable to you during this process.

Third, how far out is the buyer looking to close and how much binder are they leveraging? If the binder is too small and the closing too far out, you could find the buyer walking three months later. Though they may have offered a higher price they can be a risk. Losing one thousand dollars may be worth it to a buyer that finds something they like better. That could leave you having your home off the market for three months and now you're facing closing on another home without a buyer for the home your in.

Other terms you may want to consider, what is the buyer asking for? Appliances, transferable termite bond, window treatments, closing costs, home warranty and/or repairs. There are many other nuances, more than could be spelled out in such a short article, but the point being it's a large transaction with many facets and you need to cover all the bases. Time for a homerun, seek out the services of a trusted professional. Keep in mind that the best pitchers and the batters have top notch coaches'. Having professional assistance certainly takes the pressure off. Getting a referral from someone who has had a remarkable experience with a real estate professional is always a good place to start. Take the time to interview several different Realtors, request references and require that their service commitment be in writing. Most importantly it's a partnership and you need to feel comfortable and have a mutual respect for the agent you choose to market and handle your transaction to closing. It can be a very emotional time for families. With the right guidance it can also be the beginning of their next exciting adventure. Batter UP!

Kim Knapp

Team Knapp (Top Ten Teams in the US GMAC REAL ESTATE)

Vanguard GMAC

flhomesandproperties.com

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