Newspapers and print ads; on the way out?? - 07/31/06 02:08 PM
They're already out as far as I'm concerned. In 2005 I spent less than $100 on newspaper ads and had one of the best ever sales and earnings years in the 27 years I've been in the real estate business.
I noticed an article in the current "REALTOR® Magazine" that says Ohio based real estate firm Real Living has totally given up newspaper advertising to focus on things Internet.
A statistic quoted in the article says newspaper print readership is down to 54% of adults down from 80% in the 1960s, while Internet use is skyrocketing.
That fact combined with the broadside … (3 comments)

What’s YOUR time worth??? - 07/31/06 08:57 AM
Sellers often rail against paying any sort of commission to get their house sold, let alone a traditional 6, 7, & 8% fee (at least mine often do, maybe yours are more generous) ;-)
I find that if you break down your costs and demonstrate to them what you actually do, then more times than not they understand where their money is being spent and are happier with paying for services rendered (especially if you get their house sold quickly for a good price).
Here's a link to an article I wrote for Realty Times in 2001 detailing what sort of typical expenses … (0 comments)

Here comes the newly remodeled, “leaner, meaner” FHA - 07/31/06 08:33 AM
When I first started in real estate over 20 years ago FHA insured loans were a huge part of my business, maybe 85% or more.
Over the years I've seen it drop to less than 5%, in fact I can't remember the last FHA financed transaction I've done; it certainly wasn't this year.
All that is fixing to change. HUD has made major changes to the FHA program in an attempt to get it competitive again assuming Congress approves.
"Expanding American Homeownership Act of 2006" has been approved in the US House of Representatives and seems headed for approval in the Senate soon. … (1 comments)

Single women are buying lots of houses these days - 07/30/06 12:09 PM
According to National Association of Realtor's statistics the second largest homebuying demographic group is single women; they're only surpassed by married couples.
I guess that shows that single women are smarter than single men ;-) or maybe it's that security/desire for security thing in action.
In any event they're here and they're buying bunches of homes to live in so we need to understand them and how to work with them.
An interesting fact I've observed about this demographic group is that they are not only buying homes but paying them off at an astonishing rate too (at least it's astonishing to … (1 comments)

Website statistics and your server logs - 07/30/06 11:42 AM
One great place to get data on how well you're website is performing for you is your server logs. You'll need a program such as http://awstats.sourceforge.net/ or http://statcounter.com/ to arrange them in a useful format but if you take the extra step to do that you will then have access to a wealth of information.I'm able to use it to find all sorts of useful information from my server log files such as where my site visitors are coming from, what pages they looked at, what keywords or source they found my website from and a host of other very, very … (1 comments)

How good are you at negotiating. - 07/30/06 10:59 AM
Hopefully you're very good; it's a huge part of what we do every day.
I've learned there's a reason we have 2 ears and only 1 mouth; it's to listen twice as much as you talk. ;-)
Seriously though, the more you can learn about a situation of any kind the better offers and counteroffers you will be able to make and the more likely you can reach a satisfactory conclusion for everyone involved.
One of my favorite negotiating tactcs is silence. Say something or ask a question and then DO NOT SAY ANYTHING until the other party either answers or responds. … (1 comments)

How does agency work in your neck of the woods??? - 07/29/06 01:56 PM
I'm always curious about how real estate works in other parts of the country.
For example in Tennessee in order to become someone's "Agent" you have to have a bi-lateral agency agreement signed by both a consumer and a real estate licensee to become an official "Agent".
This is pretty automatic with our Board's listing agreements.
But with a buyer you also need a buyer agency agreement that appoints you to be their agent of choice.
The good part about having a written buyer agency agreement is that it's just like listing the buyer; if they buy a house, listed, FSBO, foreclosure, … (4 comments)

www.Realtor.ORG, OUR real estate website - 07/29/06 08:43 AM
For those of you that may not be aware of, or have never visited, http://www.realtor.org/ (not Realtor.com) you missing some great (and helpful) stuff.Realtor.org is the member's site of the National Association of Realtors (NAR) and every Realtor has access both to the publicly displayed side and the member's only side you can register for free.For instance if you've never seen or heard the ads NAR is running (and we're all paying a $25.00 assessment for) you can run audio and video clips of those ads and see what a great job they're doing for us all.Here's a list of topics … (2 comments)

Single family homes as investment - 07/28/06 02:38 AM
Another avenue to learn more about buying & selling homes as an investment would be local investment clubs located in your area. Most of them tend to be very low budget, low key affairs you find by word of mouth and the 'friend of a friend' method. One of the largest and best organized in my area is the North Georgia Real Estate Investment Club organized and operated by a husband and wife team of investors. I recently drove 320 miles round trip one evening to attend a club meeting where the topic was "Successful Landlording"The advice you get at these … (0 comments)

In the real estate business?? You should think of buying & selling houses yourself. - 07/27/06 09:43 AM
If you're currently engaged in the real estate business as a licensee you're in a perfect position to buy & sell homes as another profit center for yourself. For several years now I've bought and sold single family homes for investment and made money on all of them. As real estate professionals we're in a unique position to have access to a lot of homes for sale, hopefully we have superior market knowledge to know what's a good buy and what is not, and (best of all) we can still get paid for buying a home for ourselves. What a deal!As … (1 comments)

Internet buyer & seller leads; want some, how do you get them??? - 07/27/06 07:12 AM
Most Realtors I know have come to 2 conclusions about the World Wide Web (www.).
It's here to stay.You can make a lot of money from it.So the new question becomes how do you do it successfully???
Based on my personal experiences over the past several years and the experiences of a large number of very, very net savvy Realtors all over the country, we think this is the best way.
Have a custom designed, user friendly website with YOU as not only the featured agent, but the ONLY agent on there. Your odds of being selected as someone's agent of choice go … (1 comments)

Why should I hire you to represent me??? - 07/27/06 05:23 AM
Ever get asked this question by sellers and buyers. Here's some great answers (along with some great questions)"Smart consumers will interview several agents before choosing someone to work with. Are you prepared to answer the following questions? RISMEDIA, July 26, 2006-Smart consumers interview potential real estate agents before deciding on whom to hire. Just as you are sizing up the potential for a good fit, rest assured that the real estate agent will likely be interviewing you, too. Be wary of agents who don't ask you questions and probe for your motivation. You wouldn't work with just any agent off the … (1 comments)

It's official; we're in a buyer's market - 07/26/06 10:04 PM
http://www.rismedia.com/index.php/article/articleview/15340/1/1/
"RISMEDIA, July 26, 2006-Existing-home sales were down modestly in June, and home prices were up slightly from a year ago, according to the National Association of Realtors®. Total existing-home sales including single-family, townhomes, condominiums and co-ops - declined 1.3 percent to a seasonally adjusted annual rate1 of 6.62 million units in June from an upwardly revised level of 6.71 million May. Last month's sales were 8.9 percent below the 7.27 million-unit pace in June 2005. David Lereah, NAR's chief economist, said the housing market is flattening-out. "Over the last three months home sales have held in a narrow range, easing to … (0 comments)

Selling your current personal residence?? You probably qualify for a big tax break. - 07/26/06 04:09 PM
If you sold your main home in 2005, you may be able to exclude from income any gain up to a limit of $250,000 ($500,000 on a joint return in most cases). If you can exclude all of the gain, you do not need to report the sale on your tax return. Unlike most federal tax forms it's fairly easy to calculate if you have a capital gain on your sale. Just take your contract sale price and subtract most of your selling expenses, i.e. your real estate sales commission, any advertising you may have paid for personally, legal fees, etc.. … (2 comments)

Real Estate is NOT competitive?? Huh, it sure is around here. ;-) - 07/26/06 02:44 PM
The US Department of Justice has been conducting investigations into anti competative practices in real estate which has led to some Congressional hearings on the subject.
Apparently after listening to National Association of Realtor's President Elect Pat Vredevoogd it sounds as if Congress is now convinced that competition is alive and well in real estate.
My market has always been very competative as I suspect most all others in the country are.
 "Real Estate Competition is Fierce, House Panel Hears In a hearing on Capitol Hill yesterday, members of a U.S. House committee looking into real estate competition and the Internet … (0 comments)

Getting your home ready to sell (hopefully quickly and for a good price) - 07/25/06 07:00 AM
Before putting your home on the market a little advance preparation will pay big dividends not only in a faster sale but usually also nets a seller more money at closing.
 Some fix up things pay huge dividends. For example painting is one of the biggest returns on investment you can get; some experts say for every dollar you spend painting you get five dollars back in increased sale price.
 Get a FREE copy of my new booklet titled "450 Ideas To Help Your Home Sell FASTER!" Dress your home for success and it will sell fast and for more money. 52 … (3 comments)

Real Estate Questions & Answers - 07/24/06 09:20 PM
I moderate a column on the Internet called "Ask An Expert", I'm not necessarily the expert but if you have any real estate questions you would like answered post them here. 
 If I can't answer them I know where to find the right person that can.
 I learned one interesting fact today about earnest money.
According to the Tennessee Association of Realtors Legal Hotline earnest money is not a requirement to have a valid sales agreement between a buyer and seller.
… (4 comments)

 
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Jim Lee, Portsmouth NH Realtor Portsmouth, Jewel of the NH Seacoast

Portsmouth, NH

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RE/MAX By The Bay

Address: ATTN: Jim Lee , 150 Mirona Road, Portsmouth, NH, 03801

Office Phone: (603) 431-1111 x 3801

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Have a question about Portsmouth NH & Seacoast New Hampshire real estate or homes for sale?? Please feel free to ask a question about any aspect of real estate or a real estate transaction.


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