Lane's Blog - Looking out from the garage

That's why we play the game...

Lane Bailey - REALTOR & Car Guy (Diamond Dwellings Realty) — Sat, 11 Oct 2008 23:06:49 -0500

I am hearing a score of different opinions about how this rescue or that bailout is going to affect the credit market, stock market or housing market. Seldom do the agree... most float to the extremes:

It won't have an effect at all, it is wasted money
If we don't, the world will crash down around us

And yet, here we sit on a VERY down Dow (could turn tomorrow) and a still frozen credit market. Of course, the programs take a little time (at least the proponents tell us that) to get rolling.

But, the point is that the stock market, housing market and event the credit market all run on emotion. Forget metrics and statistics. Forget ratios and charts and history. The only thing that really matters is emotion. And the only emotions that matter are fear and desire (some say greed). When people are more fearful than desirous, they pull money out and the market goes down. When desire over-rides fear, the markets go up. They are seldom balanced.

We are living in a world of fear...

Perhaps the governmental actions will ease the fear. Maybe not. But, the point is simply this. We have to play the game to find the outcome. Every time two sports teams square off, there is a statistical favorite. And many times they win. But, not always... That is why the game gets played.

Regardless of what we think will happen with the intervention in the markets, we have to play the game to find out the results. Had we not intervened... we'd still play the game. Just a different home team.

Game on...

from LaneBailey.com

Oh, just Short Sell it...

Lane Bailey - REALTOR & Car Guy (Diamond Dwellings Realty) — Sat, 11 Oct 2008 23:00:10 -0500

I don't like to write about short sales, because people will find the post through Google... but this is important.

While I was wandering through a neighborhood grocery store here in Lilburn, GA, I overheard a conversation. I wasn't liking what I was hearing.

Two folks were talking about a friend that was upside down on the home she bought a couple of years ago. One of them then suggested to the other that she could "just make the bank settle for less on a sale." There was a little more explanation, and then "get her to find a friend or relative to buy the house for a reasonably fair price and the bank will HAVE to take the write-down."

Ok, that would be fraud.

And I'm not kidding.

If the transaction isn't "arm's length", then it has to be disclosed to all parties, including the bank that would be writing down part of the mortgage. Arm's length means that the transaction is between people that are NOT otherwise engaged.

If the transaction isn't arm's length, the bank is not going to write down the loan balance.

So, the point...

If you are in this situation, you need QUALIFIED help. Even most real estate agents are NOT qualified help. I am NOT qualified help. I can help you find someone... but that is about it.

There are a LOT of agents out there that are "Short Sale Experts". But, few of them are actually experts. There are a lot of opportunists that are offering classes in Short Sales... But a few hours don't make one an expert. This is a tough nut to crack. And honestly, the place to start isn't with an agent unless you really need to move... and not because of the value, but because you need to move.

Don't wait until the world is crashing around you before you act.

If you are having problems keeping your home, talk with your bank. Talk with a professional that actually knows about loss mitigation for mortgage holders. But don't wait until you don't have any viable option except to walk away.

from LaneBailey.com

Market update for Gwinnett County, October 2008

Lane Bailey - REALTOR & Car Guy (Diamond Dwellings Realty) — Fri, 10 Oct 2008 23:23:05 -0500

Gwinnett County Real Estate Market Report 10 08

View SlideShare presentation or Upload your own. (tags: market gwinnett)

We live in interesting times. Last year at this time we were looking at the Sub-Prime Mortgage Meltdown. This year we are looking at a full blown credit crisis. Comparisons to last year deserve a giant asterisk. Of course, that is going forward. But at the same time, last year is what the market will be judged against.

There is a good bit of pent-up demand, now we'll see if that can be unleashed by the "Rescue Package" or if it will remain pent-up. At some point there will be a rush back into the market. Right now I am seeing increases in inventory again and a slowing (seasonal) of sales.

Blog Anthology, Posts dated 9/28-10/4

Lane Bailey - REALTOR & Car Guy (Diamond Dwellings Realty) — Fri, 10 Oct 2008 11:21:14 -0500

Every once in a while I come up with a very compelling title... This was one of those titles. I even got Matt Heaton to come over to read it out of curiosity. Dirty things you can do to your...

Both the gas crisis in Atlanta and the worldwide credit crisis need the same message. Don't Panic. Panicking makes everything worse. People topping off their cars every day, people selling off all of their stocks... same thing. They just feed the panic.

Part three of my Atlanta Gas Crisis was more focused on finding ways to mitigate the issue. There is still some good info as supplies are steady and prices are dropping. If you want to know who has dropped prices the most, this is the place to look. Looking for gas?

It's HOCKEY time... And I'll be giving away some killer tickets again this year. They are section 120, Row D... on the aisle behind the "attack twice" goal... fourth row. My son can recognize the players when they are working behind the net. Sorry, the tickets are for consumers (you don't have to buy or sell a house from me)... although I can occasionally be talked in to taking someone to a game.

I want to do it more, but each year I do manage to get away the first weekend in October for a few days of Camping time... The Southern 4 Wheel Drive Association hosts their Dixie Run in the Upper Tellico OHV area, and my club, GBR 4wd, has run the registration for the last several years.

The fourth installment of my Atlanta Gas Crisis series (gee, I feel like I should have a cool graphic like the news stations). Gas Crisis Easing? I think so.

One of my favorite books is Atlanta Shrugged by Ayn Rand. It is an amazing book. Many people absolutely HATE it... some because of the 1200 pages, others because of the message. The book largely answers the question, Who is John Galt? But, to know WHY the question is important, you have to read it...

Blog Anthology, Posts dated 9/21-9/27

Lane Bailey - REALTOR & Car Guy (Diamond Dwellings Realty) — Fri, 10 Oct 2008 09:38:14 -0500

It isn't enough to have a fast car that you tow to the track... now it is also uber-cool to have a nasty fast tow rig. After all, with the newer technologies in diesel engines, the wick can get turned up pretty high fairly easily. When you go to the diesel drags, you'll see contractors and landscapers with their "work" trucks... Race your tow rig...

I ran across an interesting article written 8 years ago about two of the main causes of the current financial crisis... and yet both of these are escaping notice from the media. Ok, one is escaping notice, and the other is getting plenty of press (bad) but not related to this particular issue, but rather related to their illegal voter registration activities. It is an Interesting article.

The crisis seems to have already mostly passed, but if you are wondering what it was like around here during the gas crisis, I wrote a few posts about it, starting with I've got gas... It might be good for some people to read BEFORE the next time it happens.

If you aren't reading Ken Cook here on Active Rain, you are missing a solid voice about the mortgage world. Ken is always on my short list as a respected writer AND mortgage broker. Mortgage Approvals gone wrong points out a couple of Ken's recent posts. They are both Must Reads.

I hate seeing people ripped off. I also hate to see people thinking they have a "right" to things that aren't. Finally, I hate the entitlement attitude that many seem to display... even when it flies in the face of reality. I was able to wrap up all of those in one post... Get the good credit you deserve...

Washington Mutual got WaMu'd... They were the biggest failure up to that point. Now, we don't even think they were a big deal because of the subsequent failures. But, as a customer I was wondering, Did you gets Whammed by WaMu?

Looking back it doesn't seem as big of a deal as it was, but this was the second post about the fuel shortage here in Atlanta. And What a pain in the gas! it was.

Blog Anthology, Posts dated 9/14-9/20

Lane Bailey - REALTOR & Car Guy (Diamond Dwellings Realty) — Thu, 09 Oct 2008 22:53:50 -0500

I love Video Sunday... And I love Rally. Rallying through the ages was a great excuse to revisit some really cool cars of the past, like the Lancia Stratos... the Darth Vader of Rally cars.

Well... in the couple of weeks from then till now, the Fannie/Freddie thing has become SMALL potatoes. Bailing here, bailing there... It is amazing how the government is just trying to throw money at this problem... and ignore the market.

If you haven't seen the SNL with Tina Fey as Sarah Palin, you need to . It has been everywhere... including my blog. But, OK, this IS funny...

Foreclosures are the hottest thing going. Everyone that is thinking about real estate is thinking that foreclosures are the place to be... until they actually find themselves in one. So, you want to buy a foreclosure home? Think before you act. The price might be lower, but it might not be a deal.

There are some really cool Upcoming Lilburn Events. I try to keep track of them and post them regularly...

Parkview Football is a doing a pretty fair job this year... Their wins have been blow outs... and they are 4-2. I am keeping their schedule and results updated here. Parkview High School Football Schedule/Results

Real Estate up? Real Estate down? I tried to lay out the cases for how real estate may react (good AND bad) to the bail-outs, rescues, whatever. And there are points for either side... that's why we play the game, because the stats don't tell the whole story.

Chicago Sheriff Refusing to do Foreclosure Evictions

Lane Bailey - REALTOR & Car Guy (Diamond Dwellings Realty) — Wed, 08 Oct 2008 14:59:57 -0500

This is from the AP.

Residents of foreclosed properties in Chicago and other parts of Cook County don't have to worry about deputies forcing them out. Sheriff Tom Dart says that starting Thursday his office won't take part in evictions.

Here is a link to the story.

on the face of it, I am offended that the Sheriff in Cook County is refusing to do his job. And that is specifically and exactly what is going on here. I'm sure it isn't fun... and I have accompanied Sheriff's Deputies on a Foreclosure Eviction... but that is not the point. The point is that the mortgage holder has a legal right to repossess the property. The Sheriff standing in the way is breaking the law... that he has sworn to uphold.

But there is more to it...

I may be an unsympathetic meanie... but I am also logical. First of all, I can see that in the case of renters that have been making their rental payments on time... those that the Sheriff of Cook County is trying to protect... they are the victims. They did what THEY were supposed to do. The owner didn't do what THEY were supposed to do.

But, as an officer of the court, the Sheriff NEEDS to be held in Contempt of Court and go to jail... that is what the "Rule of Law" means... If not for the Rule of Law, we have Anarchy.

But I think there ARE some things that CAN be done.

I think that the owners/landlords of these properties that are taking the rental payments and not paying the mortgage are defrauding the tenents. And I think that they need to be charged. And jailed if found guilty. After a few dozen of these folks go to jail, there will be a shift in how landlords view their cashflow.
There is NO reason that the Sheriff's Office can't determine if the person that answers the door is the mortgage holder (kick them out) or a renter (let them stay while a solution is found). So, why not kick out the people that aren't renters instead of giving a break to people that can't afford to live in the house.
Banks are missing a BIG opportunity here. If there is a renter in the house, they should rejoice and cultivate that renter. They have two different options that would accomplish the goals of the bank and the occupant.
- Let them continue to rent, but pay the bank instead of the foreclosed former mortgage holder. The bank is getting income on the outstanding loan... They could even sell the property WITH the renter to investors. I would bet that there would be a whole new category of investors that would step up to take performing properties.
- Sell them the house. They are making their payments. they have shown a level of responsibility that the "owner" failed to show.

The point is that those solutions don't violate the Rule of Law, nor do they further victimize the renters that are actually following through on THEIR responsibilities.

But, the reckless actions of the Cook County Sheriff fail to hold accountable those that are responsible. For that, and for breaking the law, he needs to suffer the consequences.

Taxes on the rich and how it affects everyone

Lane Bailey - REALTOR & Car Guy (Diamond Dwellings Realty) — Tue, 07 Oct 2008 15:06:15 -0500

While having a conversation with one of my high end clients recently, we started talking about taxes. I will state u front that he is NOT in the 95% that one candidate claims won't be affected by tax increases... he is a top earner. He wasn't born rich... he made it himself.

This is what the conversation about tax increases came to...

If the tax increases that Obama has stated he wants come to pass, he will HAVE to cut his staff.

That means that the increased taxes will cost jobs. He is actually looking at an expansion, but because of the uncertainty in the credit markets, and the uncertainty about future taxes, he has those plans on hold. Those are jobs that aren't being created...

So, one or two of his three personal assistants my not have a job next year. He may not be hiring 50-75 new employees next year because of taxes. That seems to me that it WILL have an effect on more than just the top 5% of income earners.

But what about the Capital Gains Tax reduction?

That is just a joke. His companies don't pay him Capital Gains... He is an owner, and his income is income. If you don't think that the politicians know this , you are wrong. The "Capital Gains Cut" that some are touting to help small business is an empty sham...

But the big problem is this... 70% of people work for small businesses. Those small businesses are generally taxed on personal tax forms. While they are incorporated, as am I, they are often Sub S Corporations... and report income on the owner(s) tax forms. Simply put, those "Rich People" are the ones that create and hold the VAST majority of jobs. If you cripple them, you cripple EVERYONE.

And remember, one candidate has voted to increase taxes repeatedly... and against tax cuts. And that isn't just for the rich, that is for people making as little as $42k/year.

And just so you know, while taxes have been cut across the board during the last seven years, revenues to the government have been at record high levels. The deficit problem in DC hasn't been because of tax cuts... they spurred the economy and brought in more revenue... the problem has been spending. And if you think that after proposing $1trillion in new spending that having a Democrat Congress AND White House is going to slow that, think again.

Real Estate Marketing Camp? Part II... Dispensing with comfort

Lane Bailey - REALTOR & Car Guy (Diamond Dwellings Realty) — Mon, 06 Oct 2008 21:56:27 -0500

Anyone hanging out in the mountains of western North Carolina this weekend might have noticed that at night it was COLD... seriously flippin' COLD. Breath in front of you turning to ice crystals cold...

And, as I mentioned in Part I, Plan Bs are required... and I had a Plan B for when the new sleeping bag failed to make its appearance until I returned from the trip. Let me tell you what Plan B was...

I had three sleeping bags... yes, three sleeping bags. I put one down on my air mattress, slipped into the mummy bag and then had the other one draped over the top... and if I didn't mention, I also had two fleece throws that I could use around my head and arms to keep anything protruding from the bag warm in the freezing tent. And at night we opened the coolers to refreeze them so that we would need less ice... I meant it when I said it was cold. I was warm... tasty comfortably warm.

And therein lies the problem...

I call the problem Morning. As in, time to get out of the bag. You see, the bag was warm and comfortable... especially warm. Outside of the bag was cold... very cold. Laying there in the morning there were two realizations:

All of the things that needed to be accomplished were outside of the tent and outside of the warm, comfortable sleeping bag.
Getting out of the sleeping bag was NOT going to be the highlight of my day.

This is a lot like the rest of our lives. We know that the goal lies on the other side of discomfort. Getting out of the warm confines of the bag and standing there in the tent with bad hair and a pair of boxer shorts while freezing is NOT fun... but it will be ok in a couple of minutes when the clothes get warm. And that is what needs to happen.

So, you gotta do what you gotta do!

And that means that I prepared myself (actually, I arranged everything that I needed... pulled some of it into the bag to warm up), crawled out of bed (with lightning speed), and changed clothes (I dressed like Superman in a nylon phone booth). I couldn't lay there until it warmed up... I had my reasons.

And real estate marketing?

Sometimes we get comfortable. It is SO warm inside. And it is SO cold outside... We know that we can shoot video/make a better property website/write better copy/whatever. But we know that it isn't going to be as fun as not doing it... at least for a little while.

Get out of the bag!

Real Estate Marketing Camp? Part I... Plan B

Lane Bailey - REALTOR & Car Guy (Diamond Dwellings Realty) — Mon, 06 Oct 2008 20:50:52 -0500

As some of you may know... I just got back from a couple of days in the wilds... camping and running registration for a 4x4 event in North Carolina... and I do consider it a relaxing weekend. I had a wonderful time, and I learned some pretty interesting lessons.

Frequent readers will know that I like to apply the lessons learned in one aspect of my life to a completely different segment... So, here we go.

Lesson I... Preparation...

I ordered a new sleeping bag, expecting cold temperatures, and knowing that my current bag(s) wasn't (weren't) up to the task any more. I ordered the new bag almost two weeks before I was to leave, with an expected delivery date of 4 days before leaving.

The bag arrived today, the day after I got BACK from the trip. I haven't unrolled it yet... There are other trips, so I still have a use for it, but it is quite disappointing that I didn't have it for THIS trip... the "stated purpose".

What does it mean?

Prepare to be put on the back burner. When ordering marketing materials or space for a client, I know that I am not the only bloke that needs materials... I have to have a "Plan B." In this case, I did... and I used it. The result wasn't as pretty, but it was as effective. I knew what Plan B was prior to ordering the sleeping bag. I also knew that I was ordering at the last minute... even though they said it was in stock and should have shipped.

When I am working up marketing for a property, I know what I want to do. I know what needs to be done. But, sometimes things don't work out... the photographer isn't available when you need them... pro video isn't in the budget... the stager can't work with some aspect of the property to the level you hoped. Things happen. Plan Bs need to be ready.

That is one of the reaons I love blogging... it is continuous marketing. You still need Plan B for the times when things go wrong, but Plan A isn't washed away... and even when Plan A comes off without a hitch, Plan B still gets to see the light of day.

Music for your video

Lane Bailey - REALTOR & Car Guy (Diamond Dwellings Realty) — Thu, 02 Oct 2008 13:17:44 -0500

TJ has a GREAT post on music for virtual tours and such... a must read.

Via TJ Hedges:

When you have it all shot and are ready to put it together there is no more important piece for your video than the music. Music sets the tone and gives emotion to your video. Without music video might as well be wall paper.

You begin by pulling out your ipod and find a great piece by Joe Satriani or Dave Koz. Maybe your a rocker and want to be edgy and more relevant so you select "Home" by Daughtry giving you great listenability. The music really makes your home sing.

You post your video, it's getting hits and you are showing the property to interested buyers.

It's perfect... till you get a notice from the legal firm of Cease and Desist informing you that you are in copyright violation for your use of music in advertising this property.

Now you are facing legal fees and fines from the RIAA of thousands of dollars and your business is in serious jeopardy. All this trouble for simply using a clip of music under your video.

This is reality if you attempt to use music by popular artists without gaining permission or paying expensive licensing fees.

Horror stories like this abound and effect businesses even when they are unaware of the issue.

A close friend of mine worked for a large national video duplication company where the RIAA (Recording Industry Association of America), fined the business millions of dollars for duplicating videos where the customer used music that was unlicensed. My friends business duplicated the video material without questioning content and was found liable for the violation. As a result the company had to file for bankruptcy and was out of business in a matter of months.

The lesson... Never, EVER, under any circumstances use music that you do not own to promote a property that you are representing. The consequences can be devestating.

So, how do you find music that is high quality, creates the correct feel and does not cost you an arm and a leg to licence?

The answer is royalty free music.

Royalty free music is a rapidly growing industry that has spawned hundreds of web sites. Web sites where you can search and find the perfect piece for your video. Whether you prefer jazz, acid rock, club music or country there are choices for your video that will bring it to life.

Royalty free is a term that is used within the music or video industry to indicate that you purchase the music or video footage once and it is yours to use as you desire. This means that whether you use it for the web or a national commercial you pay once and use it to promote your product.

There are a couple of ways that music is sold.

The first is through the purchase of a library or set of songs.

www.digitaljuice.com has a broad variety of music with lengths that are sold by style and are editied and ready for you to place in your video. On the site after selecting a style of music, you can surf to the gallery where the music is posted and preview the songs contained in the particular collection.

The collections are reasonably priced and if you check the site often you will find specials that give significant discounts on products on a weekly basis.

These songs come with a great utility called the Juicer that allows you to do some easy editing on the song to customize it for your use. The music is created in what Digital Juice calls stacks. Stacks seperate the drums, guitars, keyboards and rhythm instruments so that you can remove them from the song if they do not suite your taste or need. The software is easy to use and simple to load.

If you don't want to purchase a library or set containing numerous songs, www.freeplaymusic.com may be a great place for you. Now before I go any further, don't be decieved by the name, the music is not free. You must pay for songs. But, the beauty of this site is that you may purchase individual songs.

Similar to Digital Juice, Freeplaymusic allows you to preview songs that are edited to various lengths before you purchase. There is a great variety including classical and ragea. You can spend hours searching and finding that perfect feel for your video.

CAUTION... While there are several of these libraries available, make sure to read the fine print on the site to make sure that they are truly royalty free. In some cases there will be restrictions for their usage on a regional or national broadcast basis.

Here are some links to additional resources you can check out on your own... Have fun checking them out!

SmartSound Music

Royalty Free Music

Partners in Rhyme

Shockwave Sound

Survey Says...

Lane Bailey - REALTOR & Car Guy (Diamond Dwellings Realty) — Thu, 02 Oct 2008 11:52:43 -0500

I got an email this morning from Obeo, the provider of my virtual tours. It was the results from a survey they commissioned about home buying habits for internet users (there were a few people that weren't internet consumers).

Here is part of the press release:

Obeo Survey Provides Landmark Insight Into Home-Buying Behavior

Obeo -- the expert in buyer behavior -- has released the results of an in-depth demographic analysis that will help real estate agents serve the end consumer. (PRNewsFoto/Obeo)

SALT LAKE CITY, UT UNITED STATES

SALT LAKE CITY, Aug. 22 /PRNewswire/ -- In keeping with its reputation
as an expert in buyer behavior, Obeo's recent survey reveals significant
findings regarding gender's impact on the process of purchasing a home.

(Photo: http://www.newscom.com/cgi-bin/prnh/20080819/CLTU077 )

According to a survey of more than 500 adult respondents conducted by
National Polling Service on behalf of Obeo, a leading provider of
full-service residential real estate online marketing products in North
America:

-- 41 percent of women surveyed began their search for a new home
on-line, while 25 percent of all males did the same; interestingly enough,
more men (28.5 percent) initiated their search by contacting a real estate
agent.

-- 52.6 percent of all women surveyed searched 21 or more homes online
compared to 45 percent of men surveyed

-- While price was considered the most important home feature to
consider by both men and women, 13.2 percent of men surveyed said the size
of a home was the primary feature to consider compared to 4.4 percent of
all women

-- 94 percent of all women surveyed said photos of a home would be very
helpful in their search for a home while nearly 70 percent said 360-degree
panoramas would be very helpful.

-- More than 72 percent of all respondents found the interactive nature
of Obeo - like being able to virtually change certain design elements of a
home - helpful in their search for a home.

"We know that today's home buyers are more knowledgeable about the
process in general and have higher expectations of information provided
regarding the homes in which they are interested," said Obeo CEO Glade
Jones. "What this survey provides with its in-depth demographic analysis is
a map to better serving that end consumer."

"By providing REALTORS(R) with this breadth of information as well as a
marketing platform to meet the consumer needs, we believe we are providing
a valuable solution to the real estate industry," said Alan Earl, senior
vice president of sales and marketing.

For more information and to download this survey, please visit
http://www.Obeo.com/BuyerSurvey08 .

Obeo provides Realtors(R), homebuilders, land developers and property
managers with customized online marketing solutions and offline sales
tools. To find out more, go to http://www.obeo.com.

There were a lot of other interesting things. 22% of the respondents didn't use an RE agent. But, 58% felt their agent was extremely or very effective.

I have been using Obeo for my virtual tours lately. I really like the quality of the tours, as well as the other options that are available. For 9010 Brixham Court, in Suwanee, I am using the basic tour, as well as panoramas, interactive floor plan and design tools. There are almost 100 photos. I also beefed it up with a much more extensive property website than most other agents. I wanted to be sure that buyers had as much information as possible about a property. And don't forget the video...

For another listing, I utilized a self-shot tour in addition to the design tools and interactive floor plan. The neighborhood was profiled on the website. And it was another website that went beyond the normal. 955 Juniper at the Tuscany can be found here.

The only way to deliver what buyers and sellers need and want is to pay attention to what buyers and sellers need and want.

from LaneBailey.com

I wasn't going to do any more political posts for the week...

Lane Bailey - REALTOR & Car Guy (Diamond Dwellings Realty) — Thu, 02 Oct 2008 11:42:58 -0500

But this is still just too funny...

If you haven't seen Tina Fey doing her Sarah Palin impression, you have to... it is great. I have the clip below so that you can review it...

There are a couple of things that stuck out at me though.

Governor Palin is only portrayed as attractive and religious... that diminishes her other attributes, like intelligence and independence.
Hillary Clinton is portrayed as strong... if a bit bitchy, but is seen as the stronger of the two... and smarter, etc.
The very best line of the skit was
- Hillary "I believe that diplomacy should be the cornerstone of any foreign policy"
- Palin "And I can see Russia from my house"

To me that sums up one of the things with Washington insiders... they forget that others might be a lot closer to the pointy end of the policies they are debating.

from LaneBailey.com

Gas situation easing?

Lane Bailey - REALTOR & Car Guy (Diamond Dwellings Realty) — Thu, 02 Oct 2008 11:33:05 -0500

I had to run out and pick up a few things this morning, and I saw more stations with gas and fewer with lines... That is a good sign.

I'm also hearing on the news that RaceTrack is at 100%, QT is at 90% and that the pipeline is expected to be churing full capacity by Friday, Oct 3rd. So, it seems that the news a few days ago that it could be two more weeks might have been a touch pessimistic.

Keep in mind that people going and filling up every hour isn't going to help.

It certainly isn't the time to panic...

You can still check out my post on looking for gas if needed. It has a couple of tools that we can use to find stations that have gas in the holding tank.

Good luck... and don't wait in line.

Rallying through the ages

Lane Bailey - REALTOR & Car Guy (Diamond Dwellings Realty) — Thu, 02 Oct 2008 08:19:37 -0500

Mike, this post is just for you... from LaneBailey.com

Nostalgia and the Rally car... First up is the absolute COOLEST rally car ever. It looks evil. The Lancia Stratos would be the Darth Vader of Rally cars... if it were only black. The most popular livery would have been the white with green and red for Alitalia...

The year was 1976.

The 1980s would bring "the Killer Bs". They were actual cars with too much power... My favorite car was one of the last Bs to see competition in the WRC. The cars were part of WRC's Group B. The rules were... "whatever". And I think the pinnacle of the breed was the ford RS200. Packing 600+ hp and capable of 0-60s in the low 2 second range...

Shown here in Sweden, the next race would be Portugal. Drivers and spectators both lost lives when the cars proved too fast for the crowds lining the course.

The year was 1986.

Rise of the Subaru... The 1990s brought back power levels that were only slightly below the Bs, but they weren't as fast. However, the sport grew dramatically and the Subaru WRX stepped into the fray.

Instead of the rear wheel drive cars of the 1970s, the cars of the 1990 were almost all 4wd. There had been a slight shift away from 4wd after the end of the B era because the drive systems cost weight and power... but they proved faster, and that is what counts.

The year is 1997.

This was also the time when stars like Colin McRae and Richard Burns entered the limelight, and teams would have helicopters looking over the course for issues in front of their cars. Obviously, while there was a budget, it was big... but still just a small fraction of fielding a Formula 1 team.

So, you want to buy a foreclosure?

Lane Bailey - REALTOR & Car Guy (Diamond Dwellings Realty) — Thu, 02 Oct 2008 08:13:45 -0500

I was with a buyer last week that wanted to look at a certain foreclosure home that they had seen listed. The price seemed a little high, but they thought there might be room for the bank to wiggle... It had been on the market for about 8 months.

When we walked in the door, the odor of decay was overwhelming. Literally. We couldn't walk into the house for more than a moment.

Of course, there was no power, the HVAC had not run for at least as long as it had been on the market, probably longer. There was (probably) a roof leak... and the moisture had allowed mold to grow unchecked.

Of course i called the listing agent, got a recording, left a message and... never heard back. I know that I couldn't have been the first person in the house in eight months... this couldn't have been the first time someone said that the house was having issues.

Now, this is likely a teardown. I couldn't recommend it to any of my buyers. The price was slightly too high for a home in reasonable shape. For what it had become, it wasn't even close. Priced at $345,000 it was about $20k too much. But, it had become a liability and not worth more than $50,000 (value of the land and cost to remove the house).

With banks having collateralization issues, losing $250,000 on this property over spending a little and pricing it reasonably seems kind of stupid. Multiply this by tens of thousands of properties across the country.

from LaneBailey.com

Dirty things you can do to your...

Lane Bailey - REALTOR & Car Guy (Diamond Dwellings Realty) — Wed, 01 Oct 2008 23:42:24 -0500

camper.

In honor of camping for a few days, I thought I would post up my Video Sunday videos from this past week... I even managed to get a comment from Matt Heaton on this one (on my "other blog").

I've been wanting to buy a camper... just a simple pop-up to take the family out in for a little camping. Instead, I got to buy a new fridge because the old one committed suicide. Not exactly the plan... but life happens.

So, I grabbed a few videos of dirty campers...

No, that isn't exactly what I had in mind. But what can be better than a 4x4? How about an 8x8...

This is actually the one I was thinking of...

It's time...

Lane Bailey - REALTOR & Car Guy (Diamond Dwellings Realty) — Wed, 01 Oct 2008 23:10:50 -0500

Each year around this time, I get out of town for a couple of days, hang out with the guys and camp.

It is that time of year again... and I am ready to go.

Despite that fact that I am running registration again (ok, I run the club that is running registration and people yell at me)... I think it is relaxing. Aside from the few minutes I'll actually work, I get to hang out with a lot of cool people, make some hilarious jokes and see some groovy junk Jeeps and trucks. And even the working is groovy because after handling a rush... it is handled.

A cool bonus is that my cell phone won't work on site. This is one of the VERY few times that I am out of cell range for more than a few minutes.

I also don't have internet access... no wi-fi... nothing. So, there will be no Active Rain for 3 days... THREE WHOLE DAYS.

And I won't even think about it.

So, what is the point of the post?

Two things.

The first is that batteries deplete. Find the way for YOU to recharge. Camping works for me, even if I only do it a little... I want to go more... but that is a different post.

The second is that I will get a LOAD of blog material from doing it. I'll talk with people, listen to people and eavesdrop. People will talk about homes, real estate, their various issues... and I will find all sorts of things that are directly related to real estate, and some that aren't, but can be applied nicely.

I will be popping up some posts before I go, but otherwise... see you Sunday.

Video Tutorial #5: How to Edit Video

Lane Bailey - REALTOR & Car Guy (Diamond Dwellings Realty) — Wed, 01 Oct 2008 22:13:31 -0500

TJ and Tara have finally made Part 5 of their continuing Flip Video series. If you haven't been keeping up with the series, you really should... regardless of whether you shoot a Flip. Video is the emerging trend.

Via Tara Jones:

Without further adu, here's episode #5 picking up where we left off. In this tutorial you will learn the basics of how to edit your video...a question we receive constantly. Know that this can appear confusing at first glance but does become easier with application and practice. You can do it!

Reel Tech TV Episode 5

Next week's episode: Now that you know how to edit, where is the best place to post your video?

For more information please check out ReelDwellings.TV

Say What? Sonny isn't paying attention...

Lane Bailey - REALTOR & Car Guy (Diamond Dwellings Realty) — Wed, 01 Oct 2008 00:09:06 -0500

No, I'm not going to rail on him for not doing enough to solve the gas supply issues in Atlanta, but I am going to make fun of him for two different thoughts he has voiced that are at opposite ends of the reality spectrum...

The first is that he instituted an emergency order, which brings "anti-gouging" laws into effect... basically, it is a type of governmental price control that prevents gas station owners from charging much more for the gas during the shortage than they did before the shortage.

And now he is calling on the federal government to release oil from the strategic petroleum reserve because supply and demand are out of whack. He specifically said that the market wasn't solving the problem...

Ya think?

Seriously, when you institute price controls, you are specifically STOPPING the market from correcting the supply/demand imbalance... and what you end up with are lines where there is gas and stations running out. We aren't talking about rocket science here... we are talking about Econ 101.

And now, we have a situation where the delivery levels are up to almost pre-hurricane levels... and people are following tanker trucks in order to top off when they have 3/4 tank. Demand is actually up because people are spooked.

To put this simply, had "anti-gouging" laws NOT been put in place, the price would have jumped and people would have decided that they really didn't want to stockpile gas at home in the aquarium. Demand would have dropped. Gasoline suppliers would have rushed extra fuel to the area because there would have been more money available. Supply would have increased.

Balance would have been restored... probably in less than half of the time. And imagine if this were a long term problem instead of something only lasting a couple of weeks? Think of odd/even gas rationing. That would almost guarantee that every car in Atlanta would be ina gas station every other day... need it or not.

So, Sonny...

Don't create a supply/demand imbalance and then whine about the supply/demand imbalance...

Looking for gas?

Lane Bailey - REALTOR & Car Guy (Diamond Dwellings Realty) — Tue, 30 Sep 2008 23:44:18 -0500

Yep... we still have a problem around Lilburn and Gwinnett County finding gas. In fact, the whole Atlanta area is facing the problem. I have been searching for ways to find gas for my readers. I have found a couple of ways to keep up to date on where there is gas...

The first way is Wright Express... Here is a link... Take a look at the right side, and you can see the date of the transaction. While I can't say for sure, it would seem that those with VERY recent transactions have gas. You can also see the price. This is also a good one to keep in mind later when looking for the best price nearby.

Another option is to use Twitter Search... Here is a link... This isn't well organized, but folks all over town are reporting what they see and marking it with a hashtag to make the search easier. #atlgas is the hashtag to look for.

Don't run out.

Don't freak out...

That is all...

via LaneBailey.com

Gouging...?

Lane Bailey - REALTOR & Car Guy (Diamond Dwellings Realty) — Mon, 29 Sep 2008 21:15:56 -0500

If you are spending any time watching the news, there is agood chance you have seen that the southeast has been having some gas pains. Lines, shortages and lots of stations with no gas. It is a real pain in the tank...

And through it all, there is a "no gouging" law. And I think it is time to say... out loud... so people can hear it...

It is making matters worse.

Did you catch that? There likely wouldn't be a problem if not for the "anti-gouging" (pro-consumer?) laws. There is another component that makes it worse... EPA formulation requirements... but the anti-gouging laws are a giant part.

How you ask?

There are two components of supply and demand... supply... and demand. One of these needs to be affected in order to ease the problem. Either the supply needs to increase or the demand needs to decrease. Both are easily accomplished with higher prices. That's right... higher prices.

Right now we have people waiting in lines to buy $4/gallon gas. Some are hoarding it (you can't get a gas can at Wal-Mart anymore). Others are filling up every day... keeping the tank full. That doesn't help. In fact, it increases demand. But the price can't go up... Price controls... No gouging. So, that makes supply tighter.

But, if the price spiked to $6/gallon, there would be fewer people willing to hang out in line all day to put two gallons in their tank... or fill 8 gas cans in their trunk. People would try to "wait it out" and find some ways to save gas for a couple of weeks. Demand would go down... and supply would remain constant... that would bring the price back down sooner.

But wait, there is more... If gas was $6/gallon here, and $3.50/gallon in Macon where do you think the tankers would be rolling to? I'll wait... So, demand goes down and the supply goes up and the prices stabilize...

That is the market at work...

Instead, the government is trying to buck the market. Let the demand go up... don't work to increase the supply. The only way that price controls can work is with rationing... artificial depression of demand.

So the final question?

Exactly what is gouging? Is it 30 cents more than another station? 50 cents? $1? What is it? And if there is a line willing to pay it, is it gouging? Or is it the market at work? So, the question remains... Where is the line? And how can you tell someone that they have crossed the line when you can't tell them where the line is?

Gas pains...

Lane Bailey - REALTOR & Car Guy (Diamond Dwellings Realty) — Sat, 27 Sep 2008 22:38:06 -0500

Luckily, this hasn't been a problem for me... yet. And hopefully things will be cleaned up before it is...

But it IS a problem for a lot of other people here.

My friends in the western suburbs and downtown have been complaining about stations out of gas since Ike hit. Over here in the eastern burbs, the problems had been sporatic... Until the last couple of days.

A few days ago I had to get gas for my wife's minivan. At my usual haunt, the Kroger at Rockbridge and Five Forks, there hadn't been lines. But, on Tuesday, there were about 30 cars in line. Today, there were well over 100.

In both instances, the management were in the parking lot around the fueling center keeping the traffic moving and orderly. And the lines were moving quite quickly on Tuesday... which is part of the problem.

Despite the fact that there weren't limits on the purchases, the person in front of me got $10... They waited in line and got $10. At $4/gallon, that is only 2.5 gallons. The person in front of them got under $14... 3.5 gallons.

Why???

Obviously because they were just topping off... again. And that is one of the reasons for the shortage and the lines. People are panicking and getting gas every 8 minutes. That means lines... Of course it isn't the only problem, but the Governor has changed the rules to allow tankers to go to stations at all times of the day, and the EPA is allowing out of market gasoline to come into the market.

Hopefully this will clear up in a few days. The pieces seem to be in place. Now we just need the gas in place.

Feel free to check out my other blog about Atlanta Gas Shortages at LaneBailey.com.

Get the good credit you deserve...

Lane Bailey - REALTOR & Car Guy (Diamond Dwellings Realty) — Sat, 27 Sep 2008 22:19:38 -0500

Driving home this afternoon I was behind a small SUV that had an advertisement for a "credit repair" firm on the back. And that was specifically what the sign said:

Get the "Good CREDIT" you DESERVE

And as I drove along, I was thinking about that... it brought up a point:

Do you DESERVE good credit?

Is good credit some sort of right? I know people with incredible credit. I know people with lousy credit. I have had both. I know that when I had lousy credit, I deserved it. When I had good credit, I earned it. And that is the basic argument I have with that sign. Good credit is not deserved, it is EARNED! Freedom is deserved. Equal opportunity to succeed is deserved.

And then I started looking at the sign a little deeper... and knowing a little bit about how many "credit repair" companies operate, I wasn't surprised that there were quotes around "Good CREDIT". Maybe they didn't mean the credit that we all think of... the ability to get favorable mortgage rates or credit cards.

But the biggie is still that deserve. So, if you want to deserve good credit, here is what you do:

Pay all of your bills on time.
Keep paying all of your bills on time.
Don't freak out when you get a new credit card (or credit line) and max it out. Keep balances low.
DO have a couple of credit cards, and use them occasionally.
Don't bother with "Store Cards" or private lines of credit.
Keep paying all of your bills on time.
When you are buying a house, get a 15 or 30 year fixed rate loan... and base what you buy on what you can pay each month... not on what you get approved for.
When buying a car, don't finance it for more than 5 years... or even 3 years if you can pull that off. If you can't get the payment you want with a 60 month loan or less, you need to think about a cheaper car.

I have broken EVERY single one of those rules at some point or another... and I paid the price for it. When I wasn't following the rules, I got the BAD CREDIT I deserved. As I changed my habits, my credit also changed.

And with that comes responsibility. My wife and I can easily go out and get into trouble... we have built that level of trust with creditors. And we will keep that trust until we abuse it.

I would LOVE for you to get good credit, and then use it for great purposes... buying a home, starting a business, rewarding yourself with a cool toy (car, boat, baseball card... whatever).

If you are in the market for a home, and you are wondering about your credit and what you should do, contact a GOOD mortgage broker. Do that before you look at homes. In fact, you might do that before you even talk to a real estate agent. And if your credit IS a bit challenged, DON'T immediately jump on the exotic loan train. Think about delaying gratification for a little while and building a better foundation.

originally posted on LaneBailey.com

Where is the future...

Lane Bailey - REALTOR & Car Guy (Diamond Dwellings Realty) — Fri, 26 Sep 2008 20:10:54 -0500

The future is now... and my future stared me in the computer screen...

I think back to a commercial that I've seen where the announcer is wondering what happened to the future. As The Jetsons are shown in the back ground, he asks where the flying cars, personal jet packs and in home nuclear reactors are?

I wonder the same thing. I remember as a kid seeing "the future" portrayed with flying cars and high speed people movers... The year 2000 should have had all of those groovy toys. But instead, it was much like it was in the 1980s... or the 1970s...

But all of that changed yesterday.

And the other half was my future staring at me on the computer screen. As I watched the first video, this popped up on the sidebar. As I watched it, I saw one of my boys. No, it wasn't actually one of MY boys, but it sure could be... the oldest one is 4, so another 5 or 6 years... The younger one is 7 months... so I'll be seeing this happen in 10 years... tops.