Lori's Blog

A strong offer from a committed buyer...that's what the asset managers want.

Lori Prizmich (Keller Williams) — Sun, 02 Aug 2009 13:44:10 -0500

I know it is frustrating to show buyers dozens of homes, write dozens of offers, and not get into contract. Agents might even resort to submitting offers on homes their clients haven't seen or submit offers on multiple properties at the same time.

Last week I had an REO listing in which the bank responded to the first choice offer only to have the buyers agent say their clients were no longer interested (it was a quick response by the way). That was fine. However, when we responded to choice #2, #3, and #4 who said the same thing...it was a little suspicious. We finally got into contract on the 5th choice offer!

Probably common sense, but here are some tips for submitting offers on REOs.

1) If the property is listed way below market and your client wants the property, don't be afraid to submit an aggressive offer (other agents are).

2) It can be helpful to include any compelling information that might influence the asset manager (ie: buyers credit, assets, job history, familiarity with subject area...whatever you can think of).

3) Ask the listing agent to confirm receipt of the offer. If you don't get confirmation call or email. I have received offers that were so faint I couldn't read anything including the agent's name and phone number!

4) Include a lender letter with the loan officers name, phone number, and email address.

5) If your buyer is an FHA buyer, make sure and take the condition of the property into consideration. If the property is going to need repairs to pass FHA, the listing agent probably knows it. Address repair issues in the offer.

6) Assure the listing agent that this is the property your clients want. The goal of the listing agent is to find the best offer that is most likely to close escrow.

Hope this helps!

Lori Prizmich, CRS

Realtor, Keller Williams Realty

530 845 3325 (direct)

Sixty is the new thirty! Days that is...

Lori Prizmich (Keller Williams) — Fri, 08 May 2009 23:07:53 -0500

Wrinkles might be cute on dogs - but not so much on faces and certainly not in real estate transactions!!

It seems like it is taking longer to get the fully executed contract, longer to get the preliminary title report, longer to get the appraisal, longer to get responses to requests for repairs, longer for loan docs, longer for funding...at this rate i'll need a face lift between the time we go into contract and the close of escrow!!

Remember the days when you could actually close a transaction in 30 days or less? Certainly FHA transactions start at 45 days and if you throw in the fact that the transaction is an REO, well then you definitely have a sixty day escrow. Even a non-REO with conventional financing seems to be taking 45 days. Yes...sixty is the new thirty and if we can just accept that fact, it might eliminate some stress-induced furrows and gray hair. Now...where did I put that invitation to the Botox party?

Lori Prizmich, CRS

Keller Williams Realty

530 845 3325 (direct)

REO Agents... tips on getting the listing right...

Lori Prizmich (Keller Williams) — Fri, 03 Oct 2008 19:11:25 -0500

Ok, i'm just going to lay it out there because most agents are either on the buyer or seller side of REO (real estate owned) aka bank owned property nowadays.

I've been to half a dozen forums, training, talks, etc., where REO agents sit up in front of a crowd telling everyone how many phone calls, emails, stupid questions, etc., they get each day. They talk about what the buyers agents can do to make things easier for the listing agents.

My colleagues and I have conferred and we would like to eleviate the incredible pressure on the REO listing agents who are struggling under the pressure by offering a few tips to make life easier.

First, start with putting the correct information in MLS. If the property has three bedrooms...here's a thought...don't list it as a five bedroom.

Second, there's this neat little contraption called a camera. It takes pictures inside as well as outside. It's not complicated, really.

Third, when you can't keep up with your business, hire competent (even friendly!) help. Novel concept, but it works.

Fourth, if you have an accepted offer and are just waiting for the bank to sign the documents (in other words, the property is pending in spirit)...make a note in the agent remarks in MLS. It only takes a minute and guess what...fewer offers, emails and phone calls to ignore. You can actually delegate this task.

Fourth, if the property isn't financeable (ie it was a marijuana grow house and the ceiling and walls are completely ripped out) make a note in MLS. Lots of buyers and their lenders care whether or not the home is habitable.

Fifth, when you receive an offer, acknowledge it. Again, if you need help...hire someone.

Sixth, if you can't handle the listings you have...just say no to additional assignments. Fiduciary duty doesn't evaporate just because your client is in a different time zone.

If the REO agents who aren't already doing these things would just start, the clouds will part, everyone will have thicker/shinier hair, we will all lose 10 pounds without effort, we will have time to take up a new hobby, world peace will ensue, and the world will be a happier place.

REO Needs T.L.C. (code for "i've never seen the house")...

Lori Prizmich (Keller Williams) — Sun, 13 Jul 2008 20:42:02 -0500

Ok, so I was out with a client a few days ago and we had half a dozen homes to look at. We saw two homes that had no pictures posted, both listing agents described the properties as "needs TLC." Now that's what I call helpful!!

We pulled up to the first property and it looked fine. Went inside and it was spotless. There was absolutely nothing to be done. Lots of great finishes. Pleasantly surprising!! Had we known the property was so nice we'd have looked at it on the first day.

Second home, also described as "needs TLC." I think the listing agent meant to say "needs DEMO". Reminiscent of Silence of the Lambs - no kidding. The doors and windows were boarded up. Once inside, there was no flooring, no toilets, vanities, light fixtures, huge holes in the ceiling. Access to the backyard wasn't possible as the doors were boarded up and the gate to the backyard was padlocked.

Funny thing is...they were priced the same.

I just have to laugh when I see "needs TLC." Again, code for "i've never seen the house." Lori :o)

Lori Prizmich, Realtor

530 845 3325 (cell)

lori@loriprizmich.com

www.LoriPrizmichHomes.com

saving energy around the home and neighborhood...

Lori Prizmich (Keller Williams) — Wed, 18 Jun 2008 10:12:53 -0500

The cost of gas, energy, food, and living expenses are going up. Here are some easy ways to conserve, recycle, re-use, and save!

COMFORTABLE-NOT COLD
Limit air conditioning to the hottest days. (And raise your thermostat a few degrees to reduce both your energy bills and the risk of regional brownouts.) Fans use less energy and can effectively cool your home when paired with open windows for a nice cross-breeze. If you are in a place of business such as work, church, school and a sweater is required...consider mentioning it to someone in charge. It may not save you money immediately, but if everyone uses less energy - - demand (and price) of energy is reduced.

SKIP THE TRIP
Postpone heading to the grocery store or other non-urgent trip. Many times you can consolidate. If it can't wait, biking is another good option. With a little organization, carpooling kid's activities is a huge time/gas saver. You hear the funniest things too!

USE OFF-PEAK ENERGY
Run your dishwasher and do your laundry at night, when there's less demand and prices are lower. Make sure to optimize loads. Don't run anything half full.

DRYER ON VACATION
Now that the weather's warm, it's the perfect time to limit the drain of the dryer by line-drying your clothes (outdoors if possible). Speaking of laundry, reduce laundry by not washing "clean clothes". Do your teenager's hoodies really need to be washed each wearing? Well...maybe...

WATER WISELY
Conserve by watering your lawn in the early morning. If you have automatic sprinklers, turn them down (less frequency and shorter intervals). No need to water the gutter.

RECYCLE CLOTHES, TOYS, AND OTHER NON-PERISHABLES Share too-small clothes, bikes, toys, books, and all those other non-perishables with friends, family, and neighbors.

SKIP BAGS
Use tote bags to save money and the environment. Make sure to put your tote bags in a place where you will use them. If you use coupons, consider putting your coupon holder in the tote as a reminder. Also, skip the plastic when buying fruit/veggies. Even at retail stores, skip the bags and other non-necessities. The retailer will appreciate reducing overhead too!

ENJOY THE BREEZE
Running your air-conditioner in your vehicle guzzles fuel. Save gas by opening your windows and using air conditioning only when even a breeze isn't enough to cool you. (And consider carpooling to work to save even more gas.) Park your car in the shade when possible.

I hope these tips help you save money, energy, and contribute to a healthier environment.

Davis Schools...tops as usual...

Lori Prizmich (Keller Williams) — Thu, 22 May 2008 17:46:36 -0500

My best friend and I used to compare notes when the API scores came out each year. I live in Davis and she lives in Rocklin. Although the schools up that direction have always been good, they don't touch Davis. The Davis Enterprise included a nice article, Davis test scores top in region in yesterday's paper (5/21/08). The article reported that all Davis schools had API scores above 800 on the API which puts them in the category of "high performing schools." Three of the elementary schools (Willett, Pioneer, and Patwin) had scores above 900.

As the chart below shows, there are other area high schools which are also performing quite well, but Davis schools have an advantage. They are in Davis. DAVIS ROCKS!! For more information on local school performance and other useful information, try www.greatschools.com.

School name	Distance	School type	GreatSchools Ratings	Parent Reviews	API	Avg. class size
Muir Charter School	8.7	charter	2		957	---
West Campus	4.6	public	9		880	30
Davis Senior High School	14.3	public	9		854	27
Folsom High School	18.6	public	10		844	34
Oak Ridge High School	23.6	public	9		841	32
Leonardo Davinci High School	14.3	public	8		838	28
Rocklin High School	20.3	public	9		832	30
Granite Bay High School	18.1	public	8		826	32
Natomas Charter #19	5.2	charter	7		823	29
Whitney High School	20.6	public	8		810	30

Lori Prizmich, Realtor

The Lori Prizmich Team

www.LoriPrizmichHomes.com

530 845 3325 (direct)

Davis, CA Real Estate Values...time to buy or sell?

Lori Prizmich (Keller Williams) — Thu, 08 May 2008 00:05:16 -0500

Wondering what's going on with the Davis, CA real estate market? Every person I know asks how things are in the Davis Real Estate Market. Let me just share some numbers taken directly from Metrolist over the past few days.

I like to look at absorption rate (among other variables) of local markets. Absorption rate is the number of months it will take to absorb current inventory based on sales history. This can be done looking at previous sales for the last month, 6 months, 1 year, etc. Looking at each interval can give a person an idea of whether inventory is shrinking or growing.

In order to determine the absorption rate for a particular market such as "condos in Davis"...you

1) determine the number of condos that sold over the past year

2) divide by 12 to find the average number of condos that sell each month

3) divide the current inventory by that number

4) the resulting number is the absorption rate (or number of months it will take to absorb current inventory).

Some industry experts say less than five months of inventory is considered a buyers' market.

As you can see from the far right column in the table below, some categories have fairly limited inventory (namely >$500k single family homes). Some categories have a sizeable inventory (ie: >$800k). This could probably be attributed to the fact that homes in this price range are generally considered "move up" homes. Many homeowners are uncertain about whether or not now is a good time to buy and/or sell. Well, if you have an entry level home in Davis to sell, and are looking to purchase a move up home...it appears to be a pretty good market for you!

If you would like to know whether it is a good time to buy or sell in Davis, CA let me calculate statistics based on your specific scenario and give you my opinion. I welcome all real estate questions!

Davis	Active	Pending	Sold last 30 days	Sold last 6 mos	Sold last 12 mos	Avg Sales Per mo past 6 mo	Avg Sales per mo last 12 mo	Mos Inv based on last 12 mo	Mos Inv based on last 6 mos	Mos Inv based on last 30 days
Condo	29	12	5	15	43	2.5	3.58	8.09	11.6	5.8
Halfplex	15	5	1	5.00	34	0.83	2.83	5.29	18.00	15.00
SFH	129	56	20	29.00	342	4.83	28.50	4.53	26.69	6.45
SFH > $500k	29	24	10	38	117	6.33	9.75	2.97	4.58	2.90
SFH < $500k	96	33	9	56	224	9.33	18.67	5.14	10.29	10.67
SFH =/< $800k	37	8	2	13	50	2.17	4.17	8.88	17.08	18.50

I look forward to hearing from you...

Lori Prizmich, Realtor
Keller Williams Realty
The Lori Prizmich Team
530 845 3325 (cell)
530 231 2988 (fax)
http://www.loriprizmichhomes.com/

Beauty and the Beast! West Sac REOs aka foreclosures aka Bank Owned homes

Lori Prizmich (Keller Williams) — Mon, 14 Apr 2008 22:52:54 -0500

So you've been standing around the water cooler and are hearing about these crazy deals in the beautiful community of Southport in West Sacramento. Many brand new homes were sold during the boom years in southerly section of West Sacramento. Like other areas, there is a steady flow of bank owned homes to that market. However, an interesting thing has happened in the past few months. The number of bank owned homes coming on the market is not keeping up with those going pending/sold. For investors, the numbers are starting "to pencil" as they say. Practically new homes are selling for around $130 a square foot (for homes over 3000sf). In most cases, you can't build for that price let alone purchase a lot. Unfortunately, owner occupied buyers are now having to compete with investors (who have 20% down). In most cases, well priced properties (beauties) are receiving multiple offers in the first day or two on the market. There are some that are just sitting because they are over-priced, filthy, trashed, and so on (beasts). Sifting through the inventory was an endless process just a few months ago. Now, a realtor and client can see everything in an afternoon. Investors don't wait for the bottom, when they jump in the bottom comes to them. If you are an owner occupied buyer, the best time to buy is when you are ready. If you are an investor, the time to buy is when it pencils (or makes financial sense). Whether you are a first time home buyer, veteran investor, or first time investor, I am happy to help. Please call or email with your questions... Lori Prizmich, Realtor Keller Williams Realty 530 845 3325 (direct) lori.prizmich@pcgagents.com www.LoriPrizmichHomes.com

Time is of the essence...what?? fence sitting can be expensive!

Lori Prizmich (Keller Williams) — Sun, 30 Mar 2008 22:52:09 -0500

I am pretty certain i'm not the only realtor out there this has happened to. You have a buyer client who is considering new home construction. You show them everything out there. They sit comfortably on the fence throughout the Fall and Winter as you remind them time is of the essence. The builder calls you weekly with the temptations mounting (incentives! upgrades! great inventory!).

So, I tell me client, "Mr Buyer, there are many more buyers in the Spring - -simple economics. Supply and demand you know.

Can you hear the voice of Charlie Brown's teacher? Bwah bwaaah, bwah, bwah bwah bwaaah.

Yes, come Spring in the new home industry...the incentives dry up, the builders' low interest rates disappear, the standing inventory vanishes, the required deposit quadruples, the build out time extends, they tack on lot premiums and the coupe de gras....they actually expect you to pay the price listed on the sales brochure!! The nerve!!

No matter how many times you say it, buyers are surprised when it happens! Is it just me?? Is there a better way to get this across?

Davis...school district and real estate...there's a connection

Lori Prizmich (Keller Williams) — Sun, 16 Mar 2008 11:44:56 -0500

Since the last Pioneer PTA meeting a few weeks ago, there has been much discussion on the school budget and what can, should, and will be done. Like any other budget we can either cut expenses, raise funds, or both. Budget cuts will have a lasting impact on my children (in first and sixth grades), our children, and your children.

What does this have to do with real estate in Davis? You don't have to think long about that one. A great number of Davis home owners purchase(d) here for the schools. If the school district deteriorates, it will impact home values. Of course, property values are insignificant compared to our children's education. I'm just saying, there is a relation between the quality of schools and the demand for property in Davis.

Many have profited over the years due to the quality of Davis schools. It isn't a long term solution, but in the interrim, the time is now for real estate professionals to give back to the school district. Donations could be in proportion (yes...you know who i'm talking about) to gain over these past years of tremendous growth. Now is the time to step up...

To help raise funds and/or donate, go to http://%20http//www.davisschoolsfoundation.org/ and make your contribution. Lori :o)

Lori Prizmich, Realtor
Keller Williams
lori.prizmich@pcgagents.com

530 845 3325 (cell)
530 231 2988 (fax)
http://www.pacificcoastrealty.com/
http://www.loriprizmich.yourkwagent.com/
www.activerain.com/blogs/loriprizmich

CSR Technology Course...go go gadget!!

Lori Prizmich (Keller Williams) — Mon, 10 Mar 2008 21:36:40 -0500

WOW! I spent some time and money today attending the CRS Technology course in Sacramento with trainer Mark Porter. I love technology, but must admit...I haven't had time to do the research and figure out what would suit my needs best in a wide number of areas: contact managment system (have one, but don't love it), pdas/smart phones (have one but don't love it), cameras (have one but don't love it)...you get the picture.

Mind you this is the first day and already, Mark has shared at least 10 outstanding links/tips which i'm going to use/implement right away. So, if you get the chance to attend this class do so as soon as humanly possible. I can't wait to take my next CRS class. Probably going to take the listings class. Does anyone have feedback on that class?

Speaking of technology...I am on my Tablet and can't get the link button to work for some reason, but if you want to check out Mark Porter, see his website at http://realestatetrainers.org/RealEstateTrainer-MarkPorter.htm. He is great!!

Student housing in Davis, rent or invest?

Lori Prizmich (Keller Williams) — Mon, 10 Mar 2008 02:10:23 -0500

It's that time of year again. Time for high school seniors to find out which college town they will be departing for. Many of those teenagers will be heading for Davis, California...home of the University of California at Davis. GO AGGIES! Well students and parents...it is a cool little town.

It happens to be pretty safe and compact. Not the most affordable (or architecturally/topograhically scenic) town, but very nice just the same. You can get to the campus via bike or bus from any corner of the town (it's technically a city but you wouldn't necessarily know it when visiting). It may have some asthetic challenges, but as for a real estate investment...it is a beauty.

This time of year, I get a lot of inquiries from parents looking at home prices and considering the cost/benefit of purchasing an investment property versus paying for four years of housing. There are lots of factors to consider.

Will your child be coming home during summer?

How will your child feel about living in a different place and moving every year?

How do the tax advantages of purchasing an investment property effect your current financial situation?

Presumably, your child will be here for at least four years, right? The stability might be a nice plus. I had a client who purchased such a home and then when the child graduated, presented the home as a graduation gift (including a huge chunk of appreciation!).

Not everyone can afford to do that, but some do. Homes in Davis start around the high $200ks for a condo, $300ks for a halfplex, and $400ks for an older home. A newer home will be in the $500ks. Roommates can help offset the mortgage.

I'm always a little sentimental when talking with parents about their kids' housing needs. It must be really difficult to know you've done your job and now it's time to push them out of the nest. Maybe that's why when my kids are ready for college...i'll be looking to buy a soft little nest for them to land in. Feel free to call, email, text or respond to my blog if you need help with Davis housing.

Best regards,
Lori Prizmich, Realtor
tel.: 530 845 3325 (cell)
fax: 530 231 2988
lori.prizmich@pcgagents.com

www.pacificcoastrealty.com

lead generation, not the sexiest topic...but commissions are...

Lori Prizmich (Keller Williams) — Wed, 05 Mar 2008 21:47:46 -0600

About 7 weeks ago, I requested a face to face meeting with my broker because I felt like our group should/could work through some of the current market frustrations.

I suggested having weekly meetings where we are all accountable to each other, where we show our work, and where we share best practices and failures (streamline for goodness sakes!). We needed a plan to get to number one. After some discussion, a plan was formed.

Being the eternal optimist and stubborn beyond comprehension...we decided to meet right away and continue indefinitely. Well, there was some initial resistance by the group to the mandatory meetings because members are flung far and wide. However, after the first contentious meeting...we all came back the following week and guess what? IT WORKED!

In three weeks, our group wrote more than 40 contracts (and there are only 10 of us)! No joke. We have had more clients in contract since these meetings started than the entire second half of 2007. Lead generation and accountability work. If you want more info on that I suggest The Millionaire Real Estate Agent by Gary Keller.

If things aren't working, try something different. Get into a small group. Studies show the optimum number of participants is nine. Enough to be lively, not so many you can't all participate. Each week our team meets, we discuss what lead generating activity/time we committed, what works and doesn't work and it has been POWERFUL.

There are probably lots of teams out there that are already doing this. You don't have to be "on a team" just get into a group. Are you having a good experience in a small group or would you like to know how to start one?

Real Estate...it's what I love.

SEO for 6th graders...

Lori Prizmich (Keller Williams) — Tue, 04 Mar 2008 13:14:49 -0600

This is an SOS to some of the most stunningly geeky (in a good way!) folks i've ever read. I'm just now at the tip of the iceburg in digesting this SEO stuff which is so interesting. My son's (6th grade) class is starting to work on their own individual websites and there has been no mention whatsoever of SEO.

I'm thinking there is a huge gap here if we don't share some of this information with the upcoming generation. Unfortunately, I don't know enough about SEO to be articulate (even to 6th graders). If anyone could direct me to SEO for dummies or some other synopsis/highlight that would be appropriate for this bunch of tech sponges...i'd be forever indebted. I'm thinking "high level overview" so that they can build an understanding.

clinical features of ADHD in realtors?

Lori Prizmich (Keller Williams) — Mon, 03 Mar 2008 23:40:29 -0600

I was online looking for a IQ test, decided to try my hand at a Mensa workout, but was distracted when I came across the

symptoms of ADHD. It reminded me that another agent in our office recently said most realtors have ADHD. I'm no expert

(however I do have Master's in Psychology), but that is just ridiculous.

Some of the ADHD features include:

· difficulty sustaining attention

· easily distracted

· often does not seem to listen

· often shifts from one uncompleted activity to another

· often loses things necessary for tasks

· often interrupts or intrudes on others

· difficulty awaiting turn in groups

· often blurts out answers to questions

· often talks excessively

Hmmm...now where was I? Oh, yes...I don't know any colleagues like that. You?

caught in a lie...

Lori Prizmich (Keller Williams) — Sun, 02 Mar 2008 17:00:26 -0600

While working on my Master's thesis in Psychology (of all useful degrees), we learned about hiding behavior. This is basically when someone gets caught in a lie - - the most common "hiding behavior" is fast talking. The minute someone realizes they've said something they shouldn't or actually gets called on a lie...they start talking fast!

I showed a client several new homes yesterday (in an area she hadn't previously wanted to look in) and once back at the office, I went on MLS to look at other homes in that area. The same new home that was shown on the current price sheet was priced on MLS $15,000 less. When I called the sales agent to ask about this discrepancy...you should've heard how fast she started talking!

My advice when dealing with new home sales, keep all price sheets, print all MLS listings, and make notes of every conversation. Also, get a copy of the buyer registration when you go into the sales office and make sure it states the commission on it. Just saying....

personal and confidential...

Lori Prizmich (Keller Williams) — Sun, 02 Mar 2008 10:38:13 -0600

Yes, I admit i'm new to blogging. I thought when you checked the "for real estate professionals", the blog was not viewable by the general public (ie that is could only be seen by Active Rain foks who logged in). I was surprised to find one of my blogs on google on the first page (one intended for colleagues only). My intent on several of my blogs has been to get my colleagues' opinions on a particular topic, not for the world to see - - naive, eh?

Looking closer, it looks like I needed to check the box "Active Rain Community." Will doing this make the blog viewable to "us realtors" only?

West Sacramento REOs

Lori Prizmich (Keller Williams) — Sat, 01 Mar 2008 20:24:11 -0600

I've been following the number of bank owned properties in the Southport area of West Sacramento (95691) very closely to see what is happening in the market. The Southport area is a nice (smaller) alternative to Natomas and a newer alternative to Woodland.

The buyer activity has been incredible lately (it was actually strong throughout 2007). In looking at bank owned homes built since 2000 priced at entry level (ie $350k under), there are 16 active, 23 pending (in escrow) and amazingly...72 have sold since January 1, 2008. The banks have been pricing these homes aggressively.

Many of the homes are in the Bridgeway Lakes area of Southport; that is primarily due to the fact that the majority of building (and selling) occurred in 2005 - - the height of the market. The best values seem to be the bank owned homes in both Bridgeway Lakes and Linden East.

If you are interested in Southport for a primary residence or even an investment property, feel free to contact me at lori.prizmich@pcgagents.com or visit my website at www.loriprizmich.yourkwagent.com.

Realtors don't pee...

Lori Prizmich (Keller Williams) — Fri, 29 Feb 2008 20:22:01 -0600

My family and I are sitting down to dinner as my phone rings. I look down and see a client's phone number flash on the screen. This is the same client that kept me on the phone for 2 hours and 10 minutes last Sunday evening. That was before I realized this particular client thinks realtors don't pee (you know...like when were kids and we thought our teachers were immortal and didn't have to use the restroom like the rest of us mortals).

I just wonder how many realtors out there don't have hobbies, don't have families, don't have expenses, don't have 24 hours in the day, and of course...don't have to pee?

bonus to buyer's agent

Lori Prizmich (Keller Williams) — Tue, 26 Feb 2008 19:55:52 -0600

I closed a home yesterday that noted "bonus to the buyer's agent of $1,000" in the MLS. When I received my commission, the bonus had been distributed to my broker also. According to the escrow officer, they will distribute per the escrow demand (ie straight to the agent or distributed to both agent and broker). According to our office, that latter is our policy.

I am wondering if other agents out there have had a different experience? What are other agencies doing?

what this old rag?

Lori Prizmich (Keller Williams) — Fri, 22 Feb 2008 17:52:51 -0600

No longer will I rely on my buyers' good character (unless they are friend or family). I have always gotten a buyer broker agreement at the time buyers signed an initial offer. This was easy because at that point we had a relationship and it was just another form. If they didn't get the offer accepted, all was not lost as I had this security blanket.

However, as I mentioned in my last post, my 2008 resolution is to get a buyer broker agreement with all new clients up front. Can you tell i've been burned recently?

Does anyone have a script or phraseology that seems natural/comfortable and is working? Any suggestions?

alternatives to high priced davis homes?

Lori Prizmich (Keller Williams) — Thu, 21 Feb 2008 19:22:07 -0600

I have lived in Davis for 10+ years and love it. However, there isn't much in terms of an "entry level" or first time home buyer market - unless you would consider a condo as your first home (an option). If you want a newer or larger home under $350k, there are other feasible alternatives.

There are several nearby towns that are a bit more affordable than Davis. There is Woodland directly north, Natomas to the northeast, Southport to the southeast, Winters/Dixon/Vacaville to the west. All are about 10 or so miles from Davis in their respective directions. Prices will be significantly less than Davis for a comparable home.

Davis real estate commands a high price because of the schools, [s]low growth policies, proximity to the Bay area as well as proximity to the University of California, Davis.

If schools are your top concern and proximity to UC Davis isn't an issue, there are certainly other areas that have equally good schools (some are...believe it or not...better according to API scores). For more on that go to www.greatschools.net. If proximity to UC Davis is an issue, but schools are not a concern you might consider the nearby areas.

If you have questions or would like an up to the moment report detailing these markets, just let me know. I'll be happy to discuss Davis and surrounding markets with you.

Lori Prizmich, Realtor
Pacific Coast Realty
Keller Williams Group
530 845 3325 (cell)
http://www.sacramentoagents.com/
http://www.pacificcoastrealty.com/

headline news "Buyers Agent goes off Deep End."

Lori Prizmich (Keller Williams) — Thu, 21 Feb 2008 14:17:54 -0600

What a day! I have been working with a buyer for years (you know how they can be) and get an email regarding a listing I sent him (no joke...the day before). He sends me an email and asks if I recommend it - - he and his girlfriend went to see the models this weekend (what!?!).

I call the sales agent and explain all the work i've done, I actually sent him that listing, blah, blah, blah and she tells me he filled out the card and checked i'm not working with a realtor. My resolution for this year is NO buyer goes uncontracted. I'm way too trusting.

Has anyone out there been able to resolve this stonewall by the New Home Construction sales people?

Headlines tomorrow...."Buyer's Agent Goes Off Deep End."

we've decided on a "local agent"

Lori Prizmich (Keller Williams) — Thu, 21 Feb 2008 12:47:55 -0600

I represent primarily buyers and cover a couple of areas of which i'm very active in. It drives me crazy when buyer's say "we decided to use a local agent." They don't ask how many transactions you've closed, how successful you've been in negotiations, how good your references are, nothing. Is it legitimate to select an agent based on the address on their business card? Sour grapes?

choosing a buyer's agent in yolo county...

Lori Prizmich (Keller Williams) — Thu, 21 Feb 2008 12:38:24 -0600

What makes a good buyer's agent? Back in the day one walked down to the local office and talked to the first agent they came in contact with. That person may have been a realtor for 30 years which made them good, right? Wrong. The market is far more complicated now.

First, is he/she a realtor? This is akin to being board certified if you are doctor. It means the agent belongs to an organization that professional standards of its members.

Second, ask if he/she primarily represents buyers or sellers.

Third, ask how many buyer side transactions he or she closed within the past year. Get a written report. This will also show you how much they are successfully negotiating off the list price of the home. Every agent claims to be a great negotiator, but ask for statistics.

Fourth, ask what costs the realtor traditionally requests the seller to pay when submitting an offer. This varies and can cost the buyer thousands of dollars. Don't accept an answer of "everything." Have the potential real estate agent itemize buyer and seller costs. Also, don't accept an answer of "traditional costs."

Fifth, can you reach the person? If they don't return calls or emails now, just think how they'll be after the transaction closes if you have a problem. It is helpful if they use the same technology and modes of communication you do (ie texting, blogging, email, cell phone, etc).

Sixth, ask for references from that agent's last transactions (not the one's he or she chooses). You want a fair representation.

Finally, do you click? Your realtor is involved in the most personal aspects of you life: where you will live, your family needs, and your finances. It doesn't get much more personal than that. Make sure it is someone you connect with and is working for you.

Before making a decision on what buyer's agent to choose, consider these points and you will be successful!