Congress Votes for Home Buyer Tax Credit Expansion. The National Association of Realtors today commended the U.S. Senate and House of Representatives for passing a bill that includes an extension and expansion of the current home buyer tax credit as an important step in ensuring a real estate and economic recovery. This is great news for home buyers and sellers in the Greater Lansing area and more positive news for the housing market throughout the nation. Below, you will find a chart that gives detailed guidelines on amounts and dates. One major addition this Buyer Tax Credit includes is a $6500.00 credit to buyers moving up from an existing house, provided they have lived in the home for at least five years. The six months should provide a stronger market because of the deadline extended through May 1st, 2010. It's not to soon to get started with your moving plans and making arrangements for marketing your current home. Feel free to visit my website for additional updates or contact me anytime.
"Expect the Best" Mike
Mike Bowler Sr. ePRO, CRB, GRI, SRES Coldwell Banker Hubbell Briarwood One of 25 Most Connected Professionals in Real Estate 1020 S Creyts Rd. Lansing, MI 48917 517-492-3400 mike@mikebowler.com Search Listings: www.mikebowler.com Website for Agents: www.mikebowler.net
Swanepoel’s Report takes the whole enchilada of social media and puts it in plain English for the real estate agent who wants to get started in the right direction. Social media is transforming our industry and many others, as well. Below you will find some rules of engagement that are worth sharing with your peers on social media that Stefan Swanepoel posted in October. Hope you enjoy:
Just as it’s important to know the rules of the road and driving etiquette before driving on the open highways, so it is equally important that you have an understanding of the customs of Social Media. Although no hard legal rules exist, there are many good manners to follow if you want the vast crowds of the Social Media world to follow you.
Here are a few “Rules of Engagement” that will help you navigate more efficiently:
Give More Than You Take
The more you contribute to conversations and discussions, the more people will recognize your name and what you stand for. Over time you will establish credibility and build value. Remember the well-known adage; the more you care, the more you share.
Respect
Be respectful of the community, the members, the group’s overall goals, etc. Social Media is a participatory sport and that means that you are one of many. People can chose to communicate with you or they can chose to ignore you. Treat others as you want to be treated.
Listen
Listening and receiving comments and feedback are two of the greatest strengths of Social Media. They represent first-hand interaction with your customer. By listening to them you gain unfiltered feedback about your products and market.
Respond
When people comment or leave messages for you it’s only polite to respond in a timely fashion. By responding you are validating to the online community that you are an individual that values and acknowledges others. This adds to your credibility as an individual.
Build Relationships
It’s called social networking for a reason. Make sure you build relationships with everyone that communicates with you; establish conversations, ask questions, respond to questions, etc. Discussions and relationships encourage people to return to your page, thereby building a meaningful community.
Be Authentic and Transparent
Be sincere and honest; be yourself. With Social Media displaying your profile, message and comments it is critical to your success that you are genuine and dependable.
Do Not Become a Nuisance
It’s generally agreed that spamming is bad, but it’s also important to avoid becoming a Keyboard Gangster, Envelope Pusher or a Social Saboteur. More about these different type in my new Social Media Report.
Collaborate
Social Media is a collective medium. This means that it uses the knowledge or wisdom of the whole group; not just a single individual. For that reason, information obtained in Social Media on Wikis or reviews is seldom entirely wrong. On the other hand, it’s often not 100% right. As a result, there is a strong need to work together, updating and constantly adding value to improve the quality of the content.
Add Value
Every member of a community must contribute his or her fair share. What is your contribution? Remember that contributions come in many different shapes and actions: providing information, being a resource, answering questions and redistributing information.
Consider Opportunities in the Long Tail
In Social Media, every service offering has some degree of value. It’s not always wise to just focus on the few services that command a high frequency of interest among a few niche groups and the requisite competition that introduces other service providers. As technology continues to erode communication barriers, value will also come from the many niche groups in “the tail” that demonstrate interest in services that conventional (competing) service providers would otherwise consider having little value.
These are extracts from the new Swanepoel SOCIAL MEDIA Report 2010 written by Stefan Swanepoel (author of 15 books including the annual Swanepoel TRENDS Report) and Mel Aclaro founder of MindBridj.com, a company servicing web video solutions for speakers, trainers and coaches. This Report is due for publication on October 12th and can be ordered at the RealSure Online Bookstore.
Here's some hot real estate news for the Greater Lansing, Michigan Real Estate market on the proposed new Home buyer Tax Credit. According to an article written by Bloomberg the U.S. Senate leaders moved closer to an agreement replacing an expiring $8,000 tax credit for first- time home buyers with a smaller one that would expand access to so-called step-up purchasers.
The Senate deal would reduce the size of the tax credit to 10 percent of the sale’s price, capped at $7,290. The credit would be available on home purchases that are under contract by April 30, 2010 and borrowers would have 60 days more to close the sale. The existing credit is due to end Nov. 30.
The new agreement, which is still being negotiated and may change, would grant the credit to borrowers who have lived in their current home for at least five years. Lawmakers want to keep home sales from slipping as the economy struggles to recover from the worst drop in home prices since the Great Depression. Economists say a recovery in housing is a key to rebuilding the confidence and finances of American consumers, whose spending makes up 70 percent of the world’s largest economy.
The demand for new homes and condominiums may increase by “more than two times because you’re allowing step-up buyers into the equation,” said Andrew Parmentier, a managing partner at Height Analytics, a research firm in Washington. “ You just opened up a whole new pool of people who can buy into those empty homes and empty condos that were built out.”
The Bloomberg article went on to say:
The income eligibility for first-time home buyers would remain the same at $75,000 for individuals and $150,000 for couples. The income criteria for step-up buyers would be $125,000 for individuals and $250,000 for couples.
This is an opportunity for those sellers who have been sitting on the sidelines in the Greater Lansing real estate market to take advantage of selling their home, and moving up to more space for the growing family. Regardless of values coming down over the past 3 years, sellers who are moving up, should be able to pick up the loss on the new purchase, in addition to a tax credit if qualified. Keep in mind that if you have considered moving, now is the time to plan ahead.
Buying or selling a home in today's real estate market can be complicated without having the proper expertise and guidance throughout the process. Visit MikeBowler.com for additional tips to assist you.
“Expect the Best” Mike
Mike Bowler Sr. ePRO, CRB, GRI, SRES Coldwell Banker Hubbell Briarwood 1020 S. Creyts Road, Lansing, MI 48917 Phone: 517-492-3400 Fax: 888-832-6203 email: Mike@MikeBowler.com Website for Clients: MikeBowler.com Search Listings
Dropbox, a cross-platform file-syncing tool, has now made it’s way to the iPhone and iPod touch, complete with offline file viewing for professionals who need access to files on the run. This will be a wonderful advancement for the real estate industry to use for documents and listing information.
Once installed on your device, Dropbox for iPhone provides access to all your Dropbox files, allows you to view any file supported by your iPhone (including documents, photos, music, and video), uploads any photo or video you’ve taken on your device to your Dropbox account, and lets you save any file as a favorite for offline viewing. If you want to share a file in your Dropbox with someone else, the application can generate an email with a link directly to the file.
I tested this on my iPhone last night with a sellers price change form and it worked fantastic. I can see how this will really be a benefit to Realtors who are already taking advantage to forms online. You can use it for sharing photos, forwarding a disclosure form, or line side to a prospective purchaser, and many, many other ways to go green and paperless.
Dropbox is revolutionizing the way that people think about and access their files. In particular, they make it easy to securely share files with other people, sync them across multiple computers, access them from anywhere, and keep them safe.
Drop Box has been featured in publications like the New York Times and TechCrunch, and have won awards from places like PC Magazine.
As you discover new ways for Realtors, and real estate ancillary businesses to use this program, send me your thoughts to share with others. I can see Dropbox for the iPhone being a great collaboration here for title companies, mortgage, and home inspectors, as well as appraisers and Realtors.
Worried about security? Dropbox uses secure servers. Put your files into your Dropbox on one computer, and they’ll be instantly available on any of your other computers that you’ve installed Dropbox on (Windows, Mac, and Linux too!) Because a copy of your files are stored on Dropbox’s secure servers, you can also access them from any computer or mobile device using the Dropbox website.
Well, I need to go organize my fies on my desktop, so I can start using this great new program on my iPhone today, while on the run.
The Greater Lansing Michigan real estate market showed a substantial increase in pending and closed sales for weekending October 13, 2009 over last year the same week according to GLAR.
It's nice to see positive news for buyers, sellers and Realtors. The 3rd quarter real estate market report does not exactly illustrate much good news with the exception of lower inventories and additional units sold. Pricing in the greater Lansing area is still coming down to reality and should begin to stabilize over the next few months. You can obtain the entire 14 page Coldwell Banker Hubbell Briarwood Quarterly report on my site at the 3rd Quarter Report Link.
I am prepared to employ the latest techniques and services for your benefit, just like you've grown to expect from a professional. Real estate transactions are complex, involve large assets and demand competent representation. Marketing properties, home selection and financing are just a few of the skills today's consumer looks for when they select a real estate professional. I am prepared to offer my clients the knowledge and expertise to counsel them in relocating, buying, investing or selling the family home.
In today's market, you need someone who knows what they're doing and will work hard to get the job done. My knowledge of the real estate market, negotiating skills, and ability to listen to clients' needs and desires keep me ahead of my competition.
Coldwell Banker Hubbell Briarwood released the 3rd Quarter 2009 Market Report today that showedsome positive statistics and comparisons that will aid sellers in the greater Lansing real estate market with sound pricing decisions when it comes to marketing their home. This report also breaks down areas by school district to assist buyers and sellers. Here are some highlights of the 14-page report.
Units Sold increased 8% compared to 2009 3rd Quarter
• This has been the 6th consecutive quarter that Units Sold have increased since April 1, 2008
Sold Values
• The 4.16% decrease has been the slowest paced decrease since October 1 2005 when values decreased 2.9%
• Values began to fall in July 2005 with the market decrease was first reported in October 2005 at a minus 4.5% and the highest decrease reported in October 2006 at a minus 23.47%
Available Listings
• Listings have continuously decreased in availability since April 2008 Market Surplus
• The Market Surplus of 7 months has not been this low since October 2005 when there was a 6 month surplus. The highest peak since October 2005 was a 16 months surplus in April 2008
If the market shift continues, particularly with the increase of units sold and the decrease of available listings the Buyer’s Market may soon be over.You can get the complete report at here by selecting the 3rd Quarter Market Report Navigation Button on MikeBowler.com
More Good News for Michigan
The Michigan Association of Realtors reported today: In Michigan, the home buyer tax credit has brought in an additional 20,000 buyers into the market and 75,400 first-time buyers will be able to take advantage of the tax credit. Detailed, state-by-state information is not available on first-time buyers, but using national information from the 2009 Home Buyer and Seller Survey available in preliminary format, we can estimate the impact in a state.
According to NAR, Michigan existing home sales in the second half of 2008 were 151,200 at a seasonally adjusted annual rate. In the first half of 2009 they were 163,200. If sales continue this trajectory, as they are expected to do nationally, they could reach 173,600 for the year in Michigan in 2009. If the share of first time home buyers in the market is similar to the national share, first time buyers will have purchased 60,480 homes at a seasonally adjusted annual rate in the second half of 2008 and will purchase 76,704 for the year 2009. Because the tax credit is only in effect for 11 months out of the year, the estimated impact of the credit is an increase of 20,000 first-time buyers. 75,400 first-time buyers in the state of Michigan are expected to be able to take advantage of the credit.
Real estate transactions are complex, involve large assets and demand competent representation. Marketing properties, home selection and financing are just a few of the skills today's consumer looks for when they select a real estate professional. I am prepared to offer my clients the knowledge and expertiseto counsel them in relocating,buying, investing orselling the family home.
“Expect the Best” Mike
Mike Bowler Sr. ePRO, CRB, GRI, SRES Coldwell Banker Hubbell Briarwood 1020 S. Creyts Road, Lansing, MI 48917 Phone: 517-492-3400 Fax: 888-832-6203 email: Mike@MikeBowler.com Website for Clients: MikeBowler.com Search Listings
As I look at this chart from a recent survey taken by NAR that was sent to 47,000 Realtors, and received 1,189 completed surveys back, I am shocked, yet not surprised. This number is large enough for overall responses to be considered statistically valid. I see some odd responses that tell me things could be out of whack when it comes to where we learn about Technology for real estate. Look it over and tell me your thoughts. I have made 6 observations below the chart.
1. First and foremost is it disappointing that only 1189 Realtors responded, however apathy and lack of getting with the program could be a topic for another day. I might just add that it shows how sick our industry is right now.
2. The purpose and responsibility of NAR and local Associations is not to educate our membership when it comes to sales skills, marketing, and tools of the trade, however, it is a welcomed service that has been provided for many years through designation courses and other means. It is really each real estate agents responsibilityy to continue their education and each brokers responsibility to make sure they do so. Franchises have looked to training and education as a profit center over the past 20+ years as they have continued to offer less value for the franchise fees being charged to companies affiliated.
3. Notice that 57% depend on colleagues and 38% Friends to educate them on technology. The true reason these numbers are there is that agents are light years ahead of brokers when it comes to changes in the tech world, however, in most cases, it's the blind leading the blind. Anyone who really has their head in the business would not be depending on the agent sitting next to them to teach them technology. They would be going to seminars, workshops, and Association sponsored events that would provide them the correct tools and education. However, since when is it the Associations responsibility to train agents? (Not saying it's wrong, just asking, who's really responsible?
4. Note that 59% get most of their information from real estate related websites. I am guessing that RISMedia, Inman News, Mashable, Real Trends, Trulia, BloodhoundBlog, and many other great resources make up the majority of this information. I wonder how many agents are getting to these sites as a result of Twitter, LinkedIn, and Facebook? I think most of them.
5. Real estate training has become big business and plenty of great resources are available. Note that Trade shows and State Associations rank toward the bottom of the chart. This tells me that as we begin to consolidate MLS systems throughout the states and local boards, more responsibility will depend on State Associations to offer more affordable state conventions, services, and affordable trade shows in the future. By getting rid of the fluff and entertainment and offering statewide MLS services with IDX they would be able to provide professional training at the 3-4 regions in each state. (Topic for another day) In other words reduce the 40+ local associations to 3-4 strong regional boards covering each state.
6. The fact is, agents are more independent, expect higher commission splits from their broker, and no longer can depend on the broker for services due to economic cuts and lack of expertise; would support Statewide Associations taking on the duty of providing top notch education for a profit, with the services of professional training companies that will attract additional revenue.
OK, I am thinking outside of the box here, however, that's my motive. To get you thinking. The world is getting smaller. We have what we need at our fingertips, we have webinars (web conferencing), Blog talk radio, Blogs, YouTube, Wikis, and many other resources. State Associations could offer larger group education with better attendance in regional locations. This is my opinion only, and not the conclusion of the report. It is only my conclusion, based on reading the report. You can read the NAR survey on the Realtor.org site. What's your thoughts?
Buying a home can be an emotional, time-consuming, and complex process. There are a few things that you can do to help make the process go as smooth as possible:
1. Check your credit. Before you apply for a home loan, regardless of your credit, it’s a smart idea to obtain a copy of your credit report from the three major credit bureaus and review the information. If there are errors or things that need to be addressed, it’s easier to address them before you have found a house, than after you have found a house and are trying to close your loan.
If you know that there are a few blemishes on your credit, let your lender know what they are, why they are there, and why you are a still good credit risk. Lenders look at your credit to determine how likely you will pay back the loan. If you had extenuating circumstances - like a loss of a job or medical bills - let them know so that they understand that it is not likely to happen again in the future.
2. Get approved before you buy. An approval means that a lender has reviewed your credit history, verified your assets and employment, and has approved your loan before you have found a home to purchase. As long as the home appraises for at least the purchase price, the loan should close.
Getting approved also gives you an advantage over other buyers. Your firm approval makes it easier for you to negotiate on the price of a home, than a person who is not approved or is pre-qualified.
While getting pre-qualified may sound official, it is really just getting an idea of what you can afford. Its having a person plug in a few numbers that you give them - your monthly income and your monthly debt - and getting an approximate payment calculated. From the payment, the calculator can approximate the house price range that you can afford. No information is verified. Because your assets, income or credit is not verified, a pre-qualification has little value when purchasing a home.
3. Find a great buyer’s agent. Traditionally real estate agents represent the sellers in a transaction. When you are not working with a buyer’s agent, they are less likely to negotiate the best price or contingencies for you.
A buyer’s agent’s job and fiduciary responsibility (meaning legal duty) is to you, the buyer. Before working with an agent, establish if they are a buyer’s agent or a seller’s agent. After spending a lot of time with a Realtor, it’s natural to feel like you’re a team. But if they are not negotiating for you, then they are not on your team.
There seems to be a surge of cons invading the Greater Lansing area lately with properties that are listed for sale by Realtors on Craigslist, being snatched up and re-advertised for rent by people overseas.
The Rent Scammers are attempting to get potential renters to make a deposit prior to even getting keys to see the property. Believe it or not, some people are falling for this con game. I recently had two of my listings that were being advertised, copied and offered for rent, including the pictures.Those who were suspicious of the London accent, poor email vocabulary, and idea of sending money were questionable enough to contact me directly after checking Google. The scumbag con artist is even using my name and setting up a fake email account to communicate with the potential victims.
Although Craigslist was very prompt in pulling the ads after we have reported, I must have received a dozen calls from people who were questioning the rent of $800.00, being so cheap for a home that was priced at $214,000.00. Craigslist also put warnings out to the public that have been displayed at the top of rental ads. What more could they do, you may ask? Craigslist is one of the most popular portals generating 20 billion page views per month by over 50 million people just in the USA. That's why Realtors like myself advertise and syndicate our listings to them.
The Craigslist Forumhas also issued warnings for sometime on this old scam that has been taking place around the country for the past 2-3 years. Below you will find a list to think back on, if you plan to use Craigslist in the future, which I would highly recommend you do use, however, with the some caution as anything else on the Internet.
You can sidestep would-be scammers by following these common-sense rules:
DEAL LOCALLY WITH FOLKS YOU CAN MEET IN PERSON - follow this one simple rule and you will avoid 99% of the scam attempts on craigslist.
NEVER WIRE FUNDS VIA WESTERN UNION, MONEYGRAM or any other wire service - anyone who asks you to do so is a scammer.
FAKE CASHIER CHECKS & MONEY ORDERS ARE COMMON, and BANKS WILL CASH THEM AND THEN HOLD YOU RESPONSIBLE when the fake is discovered weeks later.
CRAIGSLIST IS NOT INVOLVED IN ANY TRANSACTION, and does not handle payments, guarantee transactions; provide escrow services, or offer "buyer protection" or "seller certification"
NEVER GIVE OUT FINANCIAL INFORMATION (bank account number, social security number, eBay/PayPal info, etc.)
AVOID DEALS INVOLVING SHIPPING OR ESCROW SERVICES and know that ONLY A SCAMMER WILL "GUARANTEE" YOUR TRANSACTION.
I know the people that I had an opportunity to talk with on the phone about this rental scam felt somewhat victimized and threatened by this incident as well as myself. It gives you a sick feeling to think that somebody is using your identity to con others and take advantage of people. I hope the Attorney general, FBI, and other agencies that have been notified and are well aware of these situations, figure out ways to capture them and do justice. Once they do, someone else will come along with another great deal, that's to good to be true. So, buyers beware and get professional help when needed.
Buyers and Sellers need professional consulting in a challenging real estate market like we have experienced the past few years in the greater Lansing area. Real estate transactions involve one of the biggest financial investments most people experience in their lifetime. There are many negotiating factors, including but not limited to price, financing, terms, date of possession and often the inclusion or exclusion of repairs and furnishings.
Buying a home can be an emotional, time-consuming, and complex process. There are a few things that you can do to help make the process go as smooth as possible. Number one is consulting with a Realtor to obtain all the tools and advice needed to make a smart purchase that will not have disappointing surprises prior to the closing. Attached here you will find four helpful reports on buying a home, which will give you some insight to get started.
Selling a home requires top notch marketing by qualified responsible professionals who understand syndication of properties, search engine optimization, and how to obtain additional exposure using social media, like Blogging, Twitter, and pinging.
In todays real estate market sellers should also expect a complete written report on recent market statistics, that include competiing properties, Solds, and those that did not sell. A Realtor can provide information on market current conditions ike mortgage interest rates, legal issues and year to date information on what is happening in the marketplace. These are key factors in getting your property sold at the best price, a shorter amount of time, and with minimum hassle. Recommend repairs or cosmetic work will enhance the salability of your property. First and lasting impressions will net more money for sellers who have shown pride of ownership in their home with clean, spacious rooms, basements, and garage's.
By precreening, providing a pre-approval for a morgage, and consulting potential purchasers with what's involved to buy a home in advance, a professional real estate agent can help prevent unqualified buyers from putting sellers through the emotional roller coaster of time delays and surprises of unworthy credit. A Realtor can objectively help you resolve these issues and move the transaction to closing
Lastly it's important to have a real estate professional that has a positive attitude, has experienced tough times, knows the market, understands Internet technology, real estate law, has negotiation skills and someone who is not shy about being brutally honest with you about your real estate challenges. You can visit MikeBowler.com for additional ideas on selling your home or search all properties in the greater Lansing, Michigan area.
"Expect the Best" Mike
Mike Bowler Sr. ePRO, CRB, GRI, SRES Coldwell Banker Hubbell Briarwood 1020 S. Creyts Road, Lansing, MI 48917 Phone: 517-492-3400 Fax: 888-832-6203 Emailto:Mike@MikeBowler.com
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
iPhone and iPod touch, complete with offline file viewing for professionals who need access to files on the run. This will be a wonderful advancement for the real estate industry to use for documents and listing information.
some positive statistics and comparisons that will aid sellers in the greater Lansing real estate market with sound pricing decisions when it comes to marketing their home. This report also breaks down areas by school district to assist buyers and sellers. Here are some highlights of the 14-page report.
me directly after checking Google. The scumbag con artist is even using my name and setting up a fake email account to communicate with the potential victims.
the past few years in the greater Lansing area. Real estate transactions involve one of the biggest financial investments most people experience in their lifetime. There are many negotiating factors, including but not limited to price, financing, terms, date of possession and often the inclusion or exclusion of repairs and furnishings.
;)
;)
