buyer: Losing the House - 01/28/07 07:02 PM
There are many real estate training programs out there. Most, if not all, of them have a dialogue for encouraging offers that goes something like this:
"The house you're looking at today and want to think about tonight, is the house someone else saw yesterday and thought about last night, and is buying today."
Of course designed to get folks to do something NOW instead of thinking too long about it (shall we say, overanalyzing?) (I'll add a caveat here that if you have properly educated your buyers, and if you have had enough communication with them about their needs, you probably … (8 comments)
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buyer: Leave My Buyer ALONE! - 01/15/07 02:13 PM
So can someone tell me when, precisely, it became okay for a listing agent to try and cut me out of a deal? I know, it happens all the time, but it ROYALLY ticks me off.
My buyer, by the way, is a repeat client of mine and is very loyal because I provide a high level of service to him-in the way that he deems to be most beneficial to him. See, he travels a LOT on business. And on the side, he develops land. He'll purchase a parcel, oh, once or twice a year. I don't push or pressure … (49 comments)
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buyer: You MIGHT Want to Return Suspect Phone Calls. - 01/13/07 01:31 PM
Case in point.
I had a call on Wednesday from a lady who got my number off my car, driving down the road.
Turns out she was trying to get information on a few different parcels of land that she'd located on another company's website, but she wasn't getting any return calls! In over a week. So frustrated, she called my car just looking for help.
As it turns out, she and her fiance are investors and developers. Today looked at a few parcels of land and several condos for investment. Will be purchasing in the neighborhood of 7 condos for investment, a parcel … (6 comments)
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buyer: Memo to Buyers - 01/07/07 07:36 PM
So you've selected an agent. Picked out your area of town. And are ready to get out there and see some houses! So your agent recommends that you talk with a lender first to get pre-approved.
No big deal, a few glitches here and there on your credit, but you're definitely able to get a loan! Congratulations!However....you knew there had to be something, right? You didn't tell the lender what payment you needed before you headed out to look. And you PROMPTLY fell in love with the PERFECT house-at the top of your range. And then you called the lender back, … (6 comments)
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buyer: One Man's Castle - 01/05/07 02:50 PM
This is a mobile home my buyers closed on today. Located in Crouse NC (that's west of Lincolnton, in fast-growing Lincoln County north and west of Charlotte NC). $84,900 for 2000 sqft, 4 years old, one acre of land.
Hopefully, you've never passed judgement on buyers who express an interest in trailers/mobile homes/whatever you prefer to call them. These particular buyers had a tight budget. Wanted excellent schools and lower taxes and a home that didn't require much work. We found it after a lot of driving around and seeing some really sketchy places.
This is a waterfront home on Lake Norman, north … (8 comments)
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buyer: What you get for the money, in Charlotte NC - 12/20/06 09:15 AM
I love that show, on Fine Living, it's pretty fascinating to see how different the inventory is from area to area in the same price break.
But even though this show seems to help somewhat in adjusting expectations for some people (at least I hope it does), there are a lot of misconceptions about the Charlotte NC market (including Concord, Harrisburg, Ballantyne, Lake Norman, etc).
In just about every major news story about hot markets in real estate, Charlotte shows up as being a great value. Which it is, and I'm glad to talk with folks about what your money buys here-we … (3 comments)
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buyer: Um....Why Does a Neighbor's Opinion Count When You Ignore Me? - 12/02/06 08:48 PM
I'm just curious here, Mr/Mrs Buyer... (or Seller, the last names are interchangable)
You've been here in Charlotte twice now to find a suitable home to purchase or land on which to build that dream house...we've made a lot of progress in getting you educated on the area- on land prices- on home prices- on market trends- the gamut. You are both relaxing with me, and allowing me to see what truly interests both of you so that I can better tailor your time to show only what has true merit.
We have checked out the city, inside the beltloop and in the … (3 comments)
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buyer: How do YOU select an agent? - 10/30/06 09:10 AM
Just a couple of observations from prospects that I met in my office on Friday.
I will note that it was a rainy, nasty, cold day and I was the only agent in the office (outside of my business partner, my dad, fellow broker/owner).
Around lunchtime, a couple came in the office looking for area information. I asked them what they might be seeking, and we talked from there for over an hour. Referenced the map, talked about the different areas in Charlotte and surrounding, and what they provide. My folks mentioned private schools, so we talked about their locations and reputations.
Now, … (3 comments)
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buyer: Another CORRUPT Lender is Sentenced! - 10/30/06 08:24 AM
And if I knew how to highlight another blog, I'd grab the one that Ken Cook posted about the fact that the corrupt lenders ought to be named and not just the industry as a whole!
http://www.charlotte.com/mld/charlotte/15870426.htm
This is the article, posted in the Charlotte Observer on Saturday 10/28. I know that mortgage fraud has appeared all over the country, and in Charlotte we've had 4 full-time FBI agents working the backlog of cases, and trying to ferret out the corrupt lenders, attorneys, appraisers, etc. Nothing has pleased me more than seeing so many of the overnight shops closing up and vanishing. … (3 comments)
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buyer: Mr Buyer? Please don't blame the bank! - 10/25/06 08:31 PM
Mr/Ms Buyer...we all run into rough stretches in life, and sometimes our credit scores tell the tale.
And you've worked hard over the past two years to get past your troubles and rebuild your credit and it's doing much better (it's almost at 600 now).
But you don't have a down payment saved up.
HOWEVER-we found you a lender who is indeed willing to make you a loan! Yippee! At 100%, and we can get the seller to cover closing costs-HOORAY! And the rate is only 7%-not that much higher than market-which is fabulous considering that you still have a ways to go on … (1 comments)
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buyer: Do you REALLY need a buyer's agent when you are building? - 10/15/06 07:02 PM
YES! There is a lot of information floating around on the internet questioning why in the world you would want a buyer's agent to get paid when you build a home, since we don't DO anything for you in the process.
Point 1. You are paying the same price either way (at least in the Charlotte market). Builders in general do not want to irritate the Realtor community by cutting us out. They know that we represent repeat business whereas the average homeowner is a one-shot deal.
Point 2. See above. Realtors are repeat business. Why does this affect you, the buyer? Because … (1 comments)
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buyer: Should you use the builder's in-house lender? - 10/15/06 06:53 PM
About half of all transactions that closed in our metro market last year were new construction. My client base is no different, I've represented buyers with just about every reputable builder (and if you don't know who in your market is reputable, that's precisely why you DO need representation in new construction). And without exception, they offer $x in closing costs or upgrades or discounts IF and ONLY IF you utilize their in-house lender partner.
The question you have to ask yourself is: "Where is the breakeven point?" Because, my friends, NOTHING in life is free. That incentive that you are being … (1 comments)
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buyer: DUAL PRICING BUILDER - 09/26/06 07:33 PM
For anyone with MATTAMY HOMES in your market. Beware. They have always been very vocal about supporting the Realtor community, and wanting to be partners. Well, I just lost a buyer to an unsavory onsite agent who offered a bonus incentive if they would sign the contract without my representation. My buyers, being engineers who are incredibly focused on the bottom line, went ahead and did the paperwork to take advantage of this 'deal' of course without calling to talk to me about it. I know all the dialogues and know that not all buyers are loyal-but you need to watch … (2 comments)
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