Silverdale Wa Real Estate Mortgages

Out with the old, in with the ... old?

Mark Flanders (Consulting) — Mon, 22 Dec 2008 18:58:40 -0600

It's interesting to prowl around the internet these days. Anyone in search of ways to promote a website or a profession will stumble across a seemingly endless number of articles touting the advantages of Social Networking. Regardless of the industry, harnessing social networks seems to be the dominant idea behind effective website promotion. Lists of Social Networking sites are published. Discussions on the merits of each, the effectiveness of each and the usability of each abound. Yawn...

Let me clarify that

Social networking works. I won't try to argue that point. What's interesting is the fact that many people think social networking is new! It's not. It's been around for hundreds or thousands of years. Social networking existed long before the Internet came along. It worked quite well in medieval Europe, and it was effective during the infancy of the United States. Social networking is alive and well in the political arena although LinkedIn is not the venue. The "Old Boys Club" is a social network!

Real estate professionals were social networking in the 70's (and before)

Blogging didn't exist in the 70's but social networking was a big part of day-to-day business in the real estate industry and many others. Think Rolodex! Everybody had one. Computers were rare; an expensive new toy at the time. Cell phones didn't exist, never mind PDA's. Yet the top professionals in the real estate arena shared a common trait. They all had a "list". On the list were the names and contact information of other professionals in related industries. This network of inter-related professionals collaborated to fine-tune the intricacies of a real estate transaction.

"No man is an island"

Has anyone not heard that saying? It's been around for so long nobody really knows how old the saying is. That saying has been passed down from one generation to the next for years. And all it really means is that life (and business) is almost impossible when you "go it alone". We need the social aspects of life. Socializing makes life more fun. It smooths the way in interpersonal communications and simplifies business transactions. It keeps us connected. It keeps us mentally healthy.

Slow down and take a deep breath

Many, many people seem to be literally running to keep up with each new way to harness social networks on the Internet. It makes my head hurt.

Networking is nothing more than building relationships. It's no different than getting to know your barber or having regular coversations with the check out person at your local grocery. Your barber and the grocery checker just might call you when they need the services of a real estate professional because you took the time to know them. Internet social networks only work well for people who take this same approach. Building relationships takes time. Internet social networking is the same as face-to-face networking in that respect.

It's better to have a short list of contacts who know you well, than a long list of contacts who barely recognize your name. Doesn't it make sense? Which group of contacts is more likely to call you when they need help?

The real advantage of internet social networks

For people who live in small communities or others like me, who are simply homebodies, the power of internet social networking really becomes apparent when you consider the sheer number of folks you can reach. It is truly amazing. I have contacts, friends and professional relationships all over the United States due to my activities on websites like ActiveRain. Before the internet, this would have been all but impossible to achieve.

Yet, in the final analysis, each and every one of these relationships took time to develop. Just like the relationship I have with my barber!

When the net has a hole, be the safety net

Mark Flanders (Consulting) — Tue, 19 Feb 2008 09:28:20 -0600

The interwoven and overlapping responsibilities of Real Estate Professionals baffle clients frequently and the professionals themselves often. Who is responsible for this or that? When something goes awry, who's feet will be in the fire, who's career on the chopping block?

Many of us have had a nightmare or two about making a mistake in our chosen career. Mistakes have the potential to cost us money. time or even our job. And, of paramount concern to the client, the mistakes a real estate professional might make, whether he/she is the mortgage broker, the processor, the agent or anyone else involved in the transaction, can cost the Client money.

Let's leave the discussion about WHO is responsible for a mistake aside for a moment and focus on a more elemental concern. Our Clients need to know SOMEONE is acting as a safety net! Does it really matter who provides this service? I don't think so. If we all accept as fact that we are ALL responsible for our clients financial safety, the confusion surrounding who does what in the transaction becomes less important. The client's safety net (us) remains intact. We should all (in my opinion) take on the responsibility of learning more than the minimum necessary to do our individual jobs. We should all (in my opinion) go a step (or two or twenty) further than we are required to. If we do, and the net develops a hole, WE can act as the failsafe, the "plan B", the contingency plan, the Safety Net.

If you have gotten this far and you are scratching your head wondering where this little diatribe is headed, the next paragraph will explain the very real situation that prompted me to think (and then write) about Safety Nets, and why you want to be one.

I overheard a conversation last week between two Loan Officers (good ones). One was asking the other about ways to offset a $1000 earnest money his client was in the process of losing. The two were discussing ways to credit this lost money back to the client on a future transaction. The client is still in the market for a home, but this particular transaction is dead in the water. The property itself (two manufactured homes on one tax parcel), was the stumbling block over which the purchase failed.

The loan officer felt lousy about his client losing the deposit. The financing contingency window of time had passed. The Realtor had let the buyer and loan officer know the seller was demanding the eanest money.

Not really expecting to find anything overlooked, I asked to see the Purchase and Sale Agreement. While reading it, I mumbled a question, "when did your client waive his Finance Contingency?". The Loan Officer responded, "he didn't, it expired". That got my attention!

In all fairness, let me point out that the Purchase and Sale, the Financing Addendum and many other forms used in Washington State are difficult to understand. AND I live with a Realtor. When I have questions, I can pick up the phone to get the answers.

In the example above, neither the Loan Officer nor the Realtor understood the Financing Addendum. The contingency must be formally (in writing) waived or it remains in effect. This had not been done.

After explaining why this clients earnest money was not in jeoporday to the Loan Officer, I called my in-house Realtor resource and confirmed what I believed. The seller had not demanded the Finance Contingency be waived, the buyer had not agreed to waive the contingency, therefore the cotingency remained in place and the buyer's earnest money was safe. The next phone call was to the selling Realtor. We discussed the relevant paragraphs in the Finance Addendum. Surprised, he agreed with me that the deposit needed to be returned to the Buyer. I suggested he confirm things with his Broker. The phone call ended on an upbeat tone.

It is far too easy to think that the Purchase and Sale Agreement is the purvue of the Realtor. As Loan Officers, we need to understand this document in all it's detail. It's a confusing document. Each one is slightly different. It is tedious to learn how to understand the legalese contained within its pages.

But folks, sometimes the net has a hole in it. When the net has a hole, WE need to be the Safety Net! Wasting time and energy discussing who is responsible for what simply distracts all of us from the responsibility we share; protecting our client's best interests.

Adapt & Adjust: Surviving the "New" Mortgage Industry

Mark Flanders (Consulting) — Thu, 14 Feb 2008 09:20:35 -0600

Ready or not, it's here. The New Year, the New Millennium (not so new now) and the newest waves of change in the Mortgage Industry are here today with even more changes right around the corner.

As I look around my office day after day, I see experienced mortgage professionals struggling to adapt to the almost overwhelming number of changes that have occured in the last two years. Trapped in the rut of "the old days", many loan professionals waited for things to "come back" while filling their hours complaining around the water cooler about how tough things have gotten, or regaling younger loan originators with now-outdated pearls of wisdom about how to be successful in our industry.

And day after day I watch the anxiety level rise in this same group of professionals as their well-ordered ideas about how things should be continues to erode. Because our industry will never be the same again! Thank goodness for that. Changes were badly needed and the time for them is upon us. Yes, it's tough to keep a level head when every loan program seems to have changed (or so it seems), yes, it's unnerving to watch the number of transactions dwindle as consumers withdraw from a market they don't understand, and yes it's infuriating to lose a transaction to a competing lender, suddenly aggressive with marketing, who prospected your client right out from under your nose!

Yet nothing has changed at all. There are still many consumers who wish to sell their properties right now, regardless of market conditions. There are many more consumers who have very good reasons to refinance. Their family finances took no notice at all of the crazy mortgage market. They still need to consolidate debt, add on to their house or adjust for the expense of a looming college tuition bill. More than ever, clients need us to walk them through the confusing process of mortgage financing. They want, more now than ever before, to be able to trust us. They need, even more than in the past, educated reassurance that they are not making a financial misstep. They demand (and have every right to) that we diligently stay on top of all the changes that are happening in this market that may pose financial danger to their families. Will you be there for them? Or will you be distracted by "the good old days"? Your clients are hoping for the former, not the latter.

During this same tumultuous time, I have had the pleasure of coaching/mentoring two young loan officers, fresh in our industry. Both 24 years old with no real previous experience. They came into the game with boundless enthusiasm, barrels full of energy, an endless supply of "old guy" jokes (since when was I old?) and a foam football. They were treated with courtesy but not taken with any seriousness by our more experienced staff. Comments like "What will they do when they run out of family members to refinance?", were common. But these two young men brought three things to the game that have proven the nay-sayers wrong so far. They brought enthusiasm, they brought energy and they brought NO visions of the "good old days". They are doing quite well in a market that the pros still lament daily as "tougher than I've ever seen it". The foam football enjoys plenty of air time in their office, much to the annoyance of several older loan officers.

Our two newest loan professionals happily and naturally do what many of us have forgotten to do. The talk to their friends, they talk to their families, the talk all the time about their exciting new career! They send letters and email. They take people to lunch. They meet people in their living rooms at 7:00 PM, when it's convenient for the client! They simply have no time to hover around the coffee pot trading horror stories, they are too busy. Their supply of family members was exhausted in the first 45 days. Yet yesterday, when I counted, there were 17 working files between them! Hmmmm...makes you think doesn't it?

I'm enjoying the contrast between the old and the new. The difference is nothing more complicated than attitude. When you are new in the industry, there is nothing to look backwards at. You have no history (or should I say baggage) to distract you. Everything is fascinating. Challenges are not annoying, they are exciting! Market changes don't freak you out when you are new, they are interesting curiousities. Two floor calls for the day is not a bad day, it's two fresh prospects! And rather than hearing "I got killed on this deal at the last moment", I hear "Hey Mark, I closed another one today! And I am meeting with my client's mother (or sister or uncle or friend) tonight to talk about a refinance". Who do you suppose the clients find more enjoyable to work with? The anxious, gray-haired fellow irritated about the last-minute underwriting condition, or the smiling, energetic newbie who calls to say "I need just one more thing for the lender, we're almost ready to close your deal".

Don't get me wrong, it's not all rosy in the "Juniors'" office. They are dealing with the same upsetting issues as the old pro down the hall. They have Account Execs who don't know their own program guidelines, unreasonable underwriting conditions in the eleventh hour and documentation the AE said would be fine, but the underwriter decided was not acceptable after 6 days in underwriting. They have had the $150,000 surprise on a title report. They have their fair share of low appraisal values. Sounds like a normal loan originator's office doesn't it? It is a normal office, the Juniors just don't "get it". Or do they?

Business is out there. Clients are looking for mortgages. Everything is new, yet nothing has changed. Is it exciting, or is it unnerving? You get to decide! For me, I prefer the enthusiasm I find in the "Juniors" office.

Would someone send me a foam football for my office?

In Defense of Plagiarism!

Mark Flanders (Consulting) — Sun, 30 Sep 2007 12:17:12 -0500

Does that title get under your skin? Good! I want to talk and you are welcome to talk back. Take off the gloves, remove the blinders and let's just sort this out once and for all. Plagiarism is OKAY in some situations.

Getting you to click that Blog Title link is the only reason for the Title at all. I'll dispense with the "defense of plagiarism" issue in this short paragraph. Plagiarism is theft and is never "Okay" or defendable. I just wanted to get you to read this article and selected the most aggravating title I could think of to get you here.

Now that we have that out of the way, I would like some feedback and ideas. ActiveRain is loaded with bright minds and clear thinkers. We have a problem. There has to be a solution (or several solutions). I'm hoping this post will act as an informal round table to problem solve the plagiarism problem. What do we do?

The Problem As I See It

The number of plagiarized post and images is increasing. I don't think this is because we have a bigger proportion of thieves, I think it is because we are growing and have so many members. In addition, any network of this size is bound to attract the spammer crowd. Some of them will do anything to build backlinks or content. I think there are 3 types of plagiarizers (plagiarists ?).

The Real Thief

Doesn't give a damn who owns or who created what. Believes the internet is a candy store where whatever can be gotten away with, should be taken advantage of. No moral fiber, lowest of low, shallow end of the gene pool. These people are playing a numbers game. They know the'll get busted. The also know they will get away with many of their activities without prosecution, so they "play the numbers". Sometimes it works, sometimes it doesn't. They get internet exposure to the sites they are trying to develop in the interim.

The Lazy Thief

Writing isn't easy for many of us. The Lazy Thief doesn't even try. It's too much bother to learn the skills and the Lazy Thief wants instant gratification. So the Lazy Thief simply copies someone elses hard work and hopes it doesn't get noticed. More than likely their Real Estate business is run the same way. Cutting corners and bending rules becomes a habit.

The Internet Rookie

This is the only group I have some empathy for. (empathy, not sympathy). The Rookie is new to the game, sees it's value, wants to play in the game and does not give forethought to what they are doing. The Rookie thinks "wow, this is a great article, I wish I could write this well, I'll use this to get started...". When the Rookie is found out, they are often terribly embarassed (and they should be), and genuinely contrite. They steal once, learn the error of their ways in a most public manner and never transgress again. It's painful to watch. These are not bad people, there are often good people making very public mistakes.

Our Current Solution

We have the flagging system. It does not seem to be working well. I believe the backlog of flagged posts is significant.

We have the moderators. We (the moderators) watch for cut-n-paste constantly. What we want to do is to read what's posted and get the good articles featured in a timely fashion. What we often end up doing is spending time playing policeman (or woman). It's frustrating, irritating and very time consuming. When we find what appears to be plagiarized content, we can't just jump on the member. First of all, we have to be sure the content is plagiarized. Then we need to contact AR. Moderators cannot delete or "sandbox" a post.

We have the members. When a member finds their own content stolen, all hell breaks loose. When a member finds a friend's content plagiarized, they notify their friend. But there is no coordinated action. A post about plagiarized content can easily get overlooked and that is not acceptable, is it?

Now It's Your Turn

There must to be a better solution! What are your ideas? Should we ask to have the software rewritten in some manner. Should we form a volunteer group (akk, I don't like that one). Should we ask ActiveRain to get the whole network signed up with Copyscape?

Let's get some ideas on the table. Simple ideas are okay. Complicated ideas are okay. Let's just get some organized brain power working here. Between the group (50,000 brains = lots of brainpower), we should be able to come up with the solution.

Remember What Mom Said

"If you are not part of the solution, you are part of the problem". Get involved. Throw out your idea. Even if it seems crazy or impossible. We are the network. You are the network. We can make it change for the better. One of us just may have a solution ActiveRain hasn't thought of .

Edited @ 19:03 -- As promised Lenn Harley posted a copy of her attorney letter to people who steal her content here.

Life After Foreclosure #2 (By request)

Mark Flanders (Consulting) — Thu, 06 Sep 2007 17:30:11 -0500

Kitsap County Real Estate

If you are one of the many American homeowners who have survived a foreclosure, there are things you can do right now to set the wheels in motion for the future purchase of a home. A foreclosure is not the end of your dreams of owning a piece of real estate. A foreclosure is a stumbling block. It is a very large stumbling block, but it can be overcome with some consistent effort and a willingness to re-prove yourself to potential lenders.

Yesterday while preparing to write this article, I searched for lenders in the US who have loan programs for borrowers with a foreclosure in their recent past. I found 72 such loan programs in about half an hour! A foreclosure will not stop you if you are determined to own a home again. It will slow you down.

The good news is obvious. It appears that many lenders are already prepared to make new mortgage loans to people who have had a foreclosure in the recent past. My guess is that within the next 2 years we will see more and more mortgage lenders create programs for this group of borrowers. The loan parameters will be strict but for homebuyers determined to reestablish themselves as homeowners, lenders will be waiting to fill the breach with a new mortgage.

Pay your rent on time, all the time

Your rental payment history will be critical when you apply for the next mortgage. It will be looked at carefully as an indicator of how you pay for your housing needs. Keep in mind some landlords keep very good records and some do not. You will need a complete history of your payment pattern so make sure your landlord will be able to provide it when you need it.

Pay off any collections that may have accumulated

A foreclosure is not usually the only item of derogatory credit that shows up on a credit report. More often there will be other accounts that suffered late payments, bills that went to a collection company and accounts that were closed for non-payment.

Get aggressive about tracking down any creditor who has reported a collection on your credit report and get them paid. Expect to be treated poorly at first. Remember that the majority of the people a collection agency talks to are trying to avoid paying for their collections. The collection agent will probably assume you are the same. Once the collection company sees you are trying to resolve your debt with them, you should find them more helpful and polite. Just don't expect it at first.

Try not to take ill treatment personally. Remember what you are trying to accomplish. Take pride in the fact that you are attempting what many people wont. You are reestablishing good credit.

Pay any judgments you have acquired

Treat any judgments as you would collections. Contact the creditor and see if you can work out some way to "satisfy" the judgment. Negotiation of the balance is sometimes possible. Payment arrangements are also possible.

You want a letter stating that your judgment has been satisfied. Even if this document in not recorded at the courthouse, it will serve as proof that you paid the debt. The underwriter will want a copy of this proof. If you can get your credit report altered to show your judgment has been satisfied, you will be once step closer to your goal of homeownership.

Start a savings plan

At a minimum, you will want to have all the funds necessary to pay for your closing costs and pre-paid items (property taxes, homeowners insurance etc). If you can save money for down payment, all the better.

You should set a minimum target of closing costs + required reserves (see above). This is one of the reason's it's prudent to establish a relationship with a loan officer early in the process. The loan officer will be able to tell you what amounts to expect for both of these items.

Contribute to your retirement accounts

Regular deposits to a retirement account indicate someone is planning for their future. Deposits over time indicate self-discipline. The ability to make regular deposits indicates someone who is earning more money than what they require for basic living expenses. All of these indicators help strengthen your financial picture as someone who is a good credit risk borrower.

In addition, as I mentioned above, retirement account balances can be used to prove you have sufficient reserves to handle potential financial problems while continuing to make a new house payment.

Contribute as much as you can to your retirement accounts during the time you are rebuilding after a foreclosure. Don't forget you can reduce your retirement contribution later if you need to.

Establish new credit

There is a fine line to tread with regard to new credit. On the one hand, you need to show you have established (and paid for) new credit, on the other hand, you don't want to give the impression you are working your way right back into a debt problem.

Here is one idea of many for establishing new credit. This technique costs very little, does not require a credit review (in most cases) and can be paid in full whenever you decide the time is right.

It is a very good idea to gain some new creditors as soon as you can after a foreclosure. But you must be ruthless about getting this new credit paid on time or you will create a new problem. If you can manage your new debt well, it will improve the overall picture of your creditworthiness when the time comes to apply for your next home loan. One well-know guideline to follow is the 29% guideline. Don't let any credit card balance exceed 29% of the available credit line. If you exceed the guideline, your credit score will drop.

Monitor your credit report

It can be emotionally difficult to look at your credit report after a foreclosure. If you only remember one thing from this article, remember this. Your credit report after a foreclosure is not a reflection of your character. This credit report is simply your starting point for the future. Try to view it like a roadmap. You cannot get from Seattle to Boston without a map that shows both places. You begin in one town, you follow the map and you will end up in the other town. But you must look at both places to get where you want to go.

As you work your way towards buying your next home, make sure you get updated copies of your credit report. It is very satisfying to see the improvements to your credit that will occur. This will also give you early warning if something pops up on your credit report as time passes. An early warning will allow you to correct discrepancies before you apply for your next home loan.

Find a loan officer with whom you feel comfortable as early as possible

Although it can be hard to share your credit difficuties with a loan officer, it will help you tremendously to have access to a loan officer while you are rebuilding. Take some time to interview a few likely prospects before you actually need a loan. Look for someone with experience handling credit challenged files. Many loan officers specialize in this area. Ask if they are familiar with the government loan programs like FHA. Watch for someone with empathy and a non-judgmental approach. It is not necessary to discuss the details of your situation with a loan officer on the first visit. Simply explain that you are currently working at correcting past credit problems and explain that you know it will take some time. Remember that you are interviewing the loan officer, not the other way around.

Another Real Estate Article from SoundBiteBlog

This article is short version (hard to believe, isn't it?) of an article on my other blog. After receiving an email from an ActiveRain reader looking for information on foreclosures, I started working on this post. Her email pointed out that there is currently almost no information on the internet to help people AFTER a foreclosure.

So...Dawn in CA, here you go. Thank you for the email and the idea :)

Do we have to sell our house Bremerton WA to buy a new one?

Mark Flanders (Consulting) — Sun, 02 Sep 2007 12:09:26 -0500

Growing your wealth with real estate

If you can relate to this question, congratulations! You are on your way towards building a Real Estate "Portfolio". Almost all of America's most affluent people are heavily invested it real estate. It is a cornerstone of many asset-building strategies. Real estate investments are historically stable and safe. Kitsap County real estate in particular has shown itself to be the perfect wealth-building vehicle for many Washington homeowners.

The thought of owning two homes in Kitsap County can be exciting. The thought of having two mortgages on the other hand can be rather intimidating. One of the first questions many folks ask is "Will the bank allow me to have two mortgages at the same time?". The answer fortunately, is "yes". Banks are just careful about how they decide who can afford additional debt and who may be venturing too far into dangerous financial territory.

The criteria an underwriter uses to establish an approvable new loan is fairly simple. The borrower is allowed to count rental income. But they are not allowed to count all of the rental income. This creates a safety margin that keeps both the borrower and the bank out of trouble. Consider the following example to see how it works.

The old loan balance - $155000
The old loan payment - $1200 / month
Taxes - $150 / month
Insurance - $50 / month
The projected rental income - $1300 / month
The projected monthly loss - ($100 / month)

Many people would be happy to have real estate in their portfolio with this scenario. The annual tax benefits more than offset the negative cash flow each month. In addition, the property will continue to increase in value over time. Now take a look at how an underwriter will view this same scenario while building in a financial safety net.

The old loan balance - $155000
The old loan payment - $1200 / month
Taxes - $150 / month
Insurance - $50 / month
The projected rental income - $1300 / month
Less a vacancy factor of 25% - ($325 / month)
The projected monthly loss - ($425 / month)

This "paper loss" of $425 each month is then applied against the borrowers gross income just like a car payment or student loan would be. If the borrower has enough income to handle a new mortgage payment, plus all their other financial obligations and the $425 loss, the new mortgage is likely to be approved. The 25% that an underwriter subtracts from the gross rental income is intended to compensate for any vacancies, repairs to the property, maintenance on the property and unexpected expenses. Some loan programs will allow more than 75% of the rental income to be counted, but they are uncommon (and riskier for both the bank and the borrower).

Even if this $425 per month loss raises a borrowers debt-to-income ratio too high to allow a loan approval, it may still be possible to keep the old house as a rental and buy a new home to live in. There may be a $425 car payment that could be paid off by refinancing the old home prior to making it a rental. Or credit card debt could be eliminated with a refinance. Each situation is different. If you are considering becoming a landlord, your favorite loan office will be able to compare different possible solutions for you.

Keep in mind that the underwriter will require proof that you have a new tenant. The homeowner will need to provide a copy of a lease agreement or a rental agreement as part of the loan approval conditions.

Insurance and the old lender.

There are a couple of additional items to check before making a decision like this one. The first item is to check with your insurance agent to see if the insurance policy you have on the home currently will need to be altered if the home becomes a rental. The insurance premium is likely to be higher for a rental than it was when the house was your personal residence.

If you live in a neighborhood with an active Homeowners Association, check your CC&R's (codes, covenants and restrictions) to make sure you are not restricted from turning your home into a rental.

And finally, it is wise to dig out the old mortgage on the property and read it carefully. It is very possible that you are required to let the lender know that you are moving out of the home. When the original loan was approved, it was approved under the belief that you would be living in the home as your primary residence. If the situation changes, the lender will probably have a clause in the mortgage document requiring you to let them know of the change. As a homeowner you have the right to do what you want with your asset (the home), but the lender also has the right to protect its investment. A loan on a rental property is riskier for the lender.

Is my loan approved or not? I have a letter!

Mark Flanders (Consulting) — Mon, 11 Jun 2007 19:50:37 -0500

John and Mary are frightened and more than a little upset. They need to ask for an extension on the closing of their new home purchase because the financing is not ready. They made an offer on their new home 26 days ago and had no idea their Loan Approval Letter was not worth the paper it was written on! Now their Earnest Money is at risk and the money they already spent on a moving company is in question. In addition, they have already paid for the appraisal.

When is a loan approval not a loan approval?

This is not a frequent occurence. It does happen often enough that savvy Realtors® and experienced sellers are somewhat wary of Mortgage Pre-Approval Letters from loan officers they don't know through previous transactions. The reason they are wary is simple. Experienced Realtors® know that Pre-Approval Letters are written by loan officers, and loan officers can't approve loans!

This is the follow up article to yesterday's post on pre-approval letters and why a buyer should have one.

Colleen Kulikowski of Orlando asked for a more detailed explanation of pre-approval letters and potential pitfalls to offer clients in her part of the country. (The link above will open in a new window)

Another Real Estate Article from SoundBiteBlog

Pre-Approval Letters: “Are you a ‘SERIOUS’ real estate buyer?”

Mark Flanders (Consulting) — Sun, 10 Jun 2007 22:54:44 -0500

Loan officers don't approve loans!

Just as Realtors® don't approve acceptance of offers, loan officers don't approve loans. Lenders approve loans. In both cases, the Realtor® and the Loan Officer are acting as facilitators of the transaction. Neither of them has the authority to legally bind the parties they represent.

A Pre-Approval Letter is such a strong buyer's tool because it means that a Lender has reviewed the buyer's application and supporting documentation (pay stubs, bank statements, W2's etc.). In addition, the Lender has agreed in writing, that they will loan money to the buyer if they find an acceptable property. Loan officers can confirm to a buyer that they will be able to get a loan. The Lender will confirm that the buyer is actually approved for a loan. This approval will have loan conditions to satisfy, but it is a real approval. The predominant condition will of course be that the buyer finds a piece of acceptable real estate! Pre-approvals are issued without an address.

Your chance of being viewed as a Serious Buyer skyrockets when the seller and the Listing Agent are presented with tangible proof that you, as a buyer, prepared for this transaction in advance. The Pre-Approval letter indicates that you have taken the time to sit with a mortgage professional, discuss the details of your financial situation, applied with a Lender and been approved by that Lender, before looking at homes.

Understanding why Pre-approval Letters are crucial is necessary for real estate buyers. (opens in a new window)

Another Real Estate Article from SoundBiteBlog

AR's Seattle Birthday Party - Awesome weather and great company!

Mark Flanders (Consulting) — Mon, 04 Jun 2007 10:23:23 -0500

	<--- Welcome to the party The First Annual ActiveRain Birthday Party in Seattle was a resounding sucess! Zillow was there, RainCityGuide was there, the MortgagePorter was there, F5 Networks was there, as well as SoundBiteBlog (shameless plug). It was like a who's who of Washington Internet Real Estate personalities. Lydia (I think) chose a beautiful spot for a springtime water-view barbeque to host the event. She couldn't have chosen better, in my opinion. Magnolia Park is small enough that it doesn't get over-full on a beautiful weekend, with a panoramic view of the Puget Sound. The park has terrific grass lawns and huge, old trees to filter the sun. AR had reserved the covered cooking area.
	<--- The SoundBiteBlog Gang. The first thing we saw on arrival was the long picnic table loaded down with food. I think everybody brought something! This was not your average hamburgers, hotdogs and chips fare. We had everything from appetizers to desert. If I had tried everything available, I would have staggered home. There must have been 5 different kinds of pasta salad (all really good) fruits and vegatables, lemon bars and beer, and of course a Birthday Cake for ActiveRain!
	<--- Caleb and company Here's some tidbits from the conversations: Matt met his wife online, romanced her and married her! (they spend way too much time online). If you haven't figured it out yet, Lydia IS in charge! Ask her, she'll set you straight. She's a born organizer and a terrific hostess. Everyone was made to feel welcome. Caleb is just as engaging and smart in person as he is on the network. His ideas and views go way beyond his years. He has a great smile that is on his face most of the time and talks a mile-a-minute when you get him on something he's passionate about. Then he laughs at himself for getting carried away!
	<--- Our wives flirting with the camera More tidbits... Toby Barnett is way younger in person than his profile picture! Toby writes for the Seattle PI Real Estate blog, if you didn't already know. He's another guy with a full-time smile on his face. Betsy Talbott is just as vivacious and insightful in person as you'd think from her writing. She brought along her husband, ~~Wayne~~(oops) Warren. He's just as out-going and fun as she is! ~~Wayne~~ ( I shouldn't be allowed) Warren works for F5 Networks and says "We make the internet run!", with a great big laugh at his own flamboyant claim. Betsy's husband clearly loves to laugh and share stories about life with Betsy. I don't think she'll ever lack attention!
	<--- Photo of the crowd More tidbits... ARDELL is ARDELL! There is only one and you cannot mistake her for anyone else! I thinks she greeted everyone with a smile and a handshake! Then, as you'd expect, she settled into animated conversations with numerous people about all the topics she loves. Real Estate, blogging, Seattle life and Project Blogger.
	<--- The ferry ride to the party More tidbits... Ben Wiseley (the code monkey) is married to a German lady who runs her own Translation Company (she can swear at him in at least 4 different languages). He's a big bear of a guy who teamed up with James to keep the hamburgers and hotdogs coming. He's even more friendly in person than he is on the network.
	<--- Another shot of the gathering More tidbits... Rhonda Porter, who I was intimidated to meet in person, and her husband were about as friendly and easy to talk to as neighbors. Rhonda's been one of my favorite writers for a long time. Between her articles on RainCityGuide and TheMortgagePorter, she spends time keeping up one of the nicest neighborhood blog sites I know of. Her husband is in the Title Industry and told us he was in diguise for the day, so I won't blow his cover here!
	<--- Rich and Janice Rich J and his beautiful wife Janice drove over with Marie and I. We should do more things together, we always have a great time. Janice likes to remind me that she and I get along so well because she is a fifth-grade teacher and I will never grow up. Marie surprised me with a custom embroidered SoundBiteBlog polo shirt to wear to the the party/barbeque. Between the new shirt and the new "No Cry Babies hat that came in the mail from Cyndee Haydon of Florida, I was "stylin' "!
	<--- The big dog heads home. After begging and pleading Rich gets to drive us home in his wife's stylish ride. He looks pretty darn good in it doesn't he? All in all, it was a great time. We had great food, excellent company, tons of conversations and Mother Nature was showing off in the Pacific Northwest.

Edit (06/04/07) Betsy Talbot got some great photos of the barbeque/gathering/birthday party. She is a much more thorough photographer than I am. Tech Tip: Don't take a camera that you are not familiar with to the party. You'll end up with 30 photos you don't want to show anyone!

Getting a mortgage is not a spectator sport.

Mark Flanders (Consulting) — Sat, 02 Jun 2007 23:22:38 -0500

Now, I don't mean to offend anyone with this post but here's an all too frequent scenario from the Loan Officer's point of view.

John and Mary Renter decided that it makes good financial sense to buy a home and let their landlord find someone else to pay for his investment. They spoke with Laura the Loan Officer and worked through the different loan options. They decided on the program that made the most sense and they went through the fat stack of papers that Laura prepared for them.

Laura let them know what she would need to get the loan closed. She doesn't need anything special, she just needs the standard items like paystubs and bank statements and W2's. She sees them out of the office with a smile and an agreement to meet in two days when John and Mary will drop off the needed paperwork.

John and Mary then call their Realtor® to schedule some time to look at the nice homes that are for sale in their neighborhood. This is the fun part! We all have a little bit of the voyeur in us, so it's interesting to see how other people live. Plus John and Mary get to pick out the type of house they like. Is a split level appealing or maybe a rambler? It would be nice to buy something where the neighbors have nice gardens. And of course the schools must be checked out. They want the best education possible for the kids. They find one they like and write up an offer.

The weekend passes and then it's back to work for both husband and wife. The thoughts of down payment money and closing costs are starting to cause some anxiety. The day to day business of children, pets and grocery shopping must be attended to. Monday evening they receive a friendly call from Laura the Loan Officer reminding them that they were to have dropped off some papers and asking them to re-schedule a time to do that. Oops! Life is very busy when you are buying a home. Right after that phone call another comes in with the news that their offer has been accepted! The problem is starting to develop.

After the homework is done that night, Mary gathers up what she can find. One of the banks statements is missing, but no problem, John can stop on his way home tomorrow and get a print out from the bank. But one of the W2's has also gone astray and John is no help at all with that. Mary takes care of all the bills. Mary decides she must look a little harder because she knows she hasn't thrown anything out in years so it must be just misfiled. She does find it eventually, but it is Friday before it turns up. The problem is gaining momentum.

Saturday and Sunday go by in a flurry of visits to the property to meet the home inspector and phone calls from family wanting to know how the house buying is working out. By the time Sunday is over, some of the household chores have fallen by the wayside. John and Mary go to bed excited and tired out. The paperwork has not been delivered to Laura and a week and half has gone by in the blink of an eye. On Tuesday Laura calls and is sounding a bit stressed out herself. John and Mary wonder why. This is what she does for a living so why should she be anxious? Right?

This sounds like a perfectly normal scenario doesn't it? It is a perfectly normal scenario. The problem is that now Laurie the Loan Officer only has 2.5 weeks to close the transaction! She is understandably concerned. Can it be done? Yes, it probably can. As long as no surprises happen. But it would have been much more of a sure thing if John and Mary had provided the paperwork on day two. And if a problem arises, this house of cards could get wobbly in a hurry!

If you are buying a home or thinking about it, remember this story. You will be very busy during the month it takes to close your purchase transaction. But, behind the scenes, there are many people who depend on you to get your documents into the Loan Officer as quickly as you can. The transaction will get stalled at some point awaiting these critical papers. You can't stand back and watch as everybody else handles your file. Getting a mortgage is not a spectator sport. It is a hands-on, full-contact situation.

And you are one of the key players!

Another Buckwheat Article from SoundBiteBlog

SoundBiteBlog believes in sharing! You are welcome to republish any article on the site with two conditions. They must be republished in their entirety and you must include credit to SoundBiteBlog. Nothing fancy, just the common courtesies. Of course if you simply wish to refer to our articles in a post of yours, we welcome the recognition. Trackbacks and rss feed syndication are always available options.

Did you just slap another blogger by mistake?

Mark Flanders (Consulting) — Tue, 29 May 2007 12:14:05 -0500

Did you know some of the best links you can receive look like spam unless you know what they are?

If you are running a blog or other type of website outside of ActiveRain, you know how important backlinks (links from other sites to yours) are for the popularity of your site with search engines. I think most people will agree that the most powerful backlinks you can receive are links embedded within an article. These are sometimes called "in content links" and search engines give them more "weight" when assessing the authority of your site. And it is very flattering to a blogger when someone thinks well enough of an article to refer to it in writing!

If you have ever had a comment on your blog that looks something like this:

[...] Should I Tell My Loan Officer About The Loan Thats Not On MY Credit Report by Buckwheat for SoundBiteBlog [...]

...and deleted it as garbage or spam, you have just dumped a comment that tells the world another site is writing about your post! It's is called a Trackback and it means that somebody is writing about you! Acccck!

Bloggers who are using Wordpress have the ability to automate this function. Wordpress includes a field in which the blogger inserts the Trackback address to the article he/she is writing about. When the blogger publishes the post he/she is working on, Wordpress automatically notifies the original blog site by adding a comment that looks like the example above. There is an older article on ColoGuy's site that explains trackbacks simply.

Trackbacks are used by the more savvy bloggers. And the more savvy bloggers tend to have higher rated websites. You don't want to lose a backlink from the highly rated sites. Removing a trackback comment can appear to be an insult. Even if you removed it thinking it was spam, nobody likes to see their comments deleted! Not even the automated comments. At best, you appear to be a novice; at worst, you will insult someone.

Many bloggers who use Wordpress also use the Akismet plugin. Akismet checks all comments against a list of known spammers. Unfortunately, Trackbacks are often filtered by the Akismet plugin (at least mine have been). So, if you are using Akismet, you need to watch what it filters. Don't just hit "Delete All" and move on.

Trackbacks won't happen if you do not have them enabled! Your blogging platform (wordpress for example) needs to be configured to allow trackbacks. A trackback is a special address. Your blogging platform needs to know you want to make this address available. Check your 'options' or 'settings' to have your site generate trackback addresses for all of your posts. It only takes a few minutes and you might be surprised at the results.

Do you ever feel like Michael Jackson's plastic surgeon?

Mark Flanders (Consulting) — Sat, 31 Mar 2007 10:53:00 -0500

I stole this title from another blogger! (I'll explain that in a minute)

The Internet is a massive place. It's even bigger than ActiveRain (it's hard to believe, but it's true). I haven't been very active in the 'Rain lately because of the amount of time it takes to launch a new blog site. But I have been active.

As many of you know (and many of you don't know), Sparky and I launched SoundBiteBlog.com on January 14th. We both learned about the benefits of blogging here on AR. Like many others, we decided to step out of the 'Rain, and try our hand at creating a visible presence in the blogosphere. SoundBiteBlog is a consumer blog targetting Kitsap County and Washington State real estate owners. So far, the site has done well. We have just over 70 articles posted on the site and as of this morning, just over 1000 unique visitors (never been to the site before) for the month. ActiveRain gets something like 10,000 unique visitors each day! So we have a long way to grow.

One of the most difficult things about stepping away from ActiveRain and blogging "outside", is the fact that you just don't get many visitors at first. And it's very hard to do blind blogging when you are used to getting 50 or more comments on every post! It's kind of lonely and you wonder if the effort it takes is worth the time. I don't type all that fast. Each article takes about 2 hours to create. That's a big time commitment when a blogger is getting no feedback.

That's the reason for this article. (if you think it's hard to get noticed here, try it on the Web)

Those of you 'Rainers that have been around for a while know that I have the habit of trying to "discover" new talent. (As a matter of fact, I'm overdue to post a new Unsung and Overlooked Collection). Lately, I've been doing the same thing on the big, wide Internet that I used to do here on ActiveRain. It's lots harder out there. There are plenty of sites to look at, that really aren't worth the first visit, never mind a second. I have found others that I now visit regularly. But the subject of this post found me.

Tony Gallegos is a Loan Officer who maintains a blog called The Mortgage Cicerone for Loan Originators. His site is still fairly new and, just like many people here on this network, he's still developing his "voice". His site is coming along really well. He's putting up some great articles with engaging titles like the one I stole! Tony is not a member of ActiveRain. He is blogging blind out there on the Internet. He has become an regular reader and a consistent comment-leaver on SoundBite. That's how I found his site. He left a comment on mine.

Validation! Recognition that I am not writing crappy articles! An indication that I am not typing words into an abyss!

When you start a new blog site, there is nothing more welcome than feedback. Tony leaves feedback on SoundBiteBlog several times each week. It's a big deal. So I thought that maybe I could get some of my ActiveRain compatriots to help validate Tony's efforts. He's a steady blogger working hard at putting up valuable content. AND, he writes an entertaing post!

Right below this paragraph I have included the article I posted this morning on SoundBiteBlog. Take a moment and read it. Then take a few more moments and visit The Mortgage Cicerone. Leave Tony a comment or two. Let him know he is getting noticed! I would appreciate it and I know he would too. Let him know that Buckwheat sent you.

The Internet is a vast place and we bloggers need to stick together!

Tony Gallegos

The Mortgage Cicerone

(S.M.A.C.) SoundBiteBlog's Most Active Commenter Award

Maybe I'm just in love with the sound of my own writing, (How's that for a mangled metaphor?) and maybe not. But if you have ever maintained a blog you know that blogging is often like writing in a twilight room. You can't really tell how things are turning out until the sun rises. A blogger writes about what he or she finds interesting. A blogger has no idea for a while if anybody else is interested, or if (dare I say it?) the writing just sucks! The only way to find out if your blog is any good is to keep on plugging away, and wait for the day to arrive when visitors start leaving comments.

Comments validate the blogger's work!

Good comments or snarly comments; I'd rather have something over nothing. At least I know someone is reading.

Let me introduce you to Tony Gallegos. Tony maintains his own blog for Loan Officers. Tony has the dubious honor of becoming SoundBiteBlog's very first recipient of the SMAC Award. Tony has been consistently reading and leaving comments on SoundBite articles for a while now. I have no idea how he discovered SoundBiteBlog in the first place. But Tony's feedback is greatly appreciated. With Tony around, I don't feel like I'm blogging in the dark!

If you read Tony's impressive resume, you might get the mistaken notion that Tony is a boring, analytical type of guy. You might think that right up until you come to his recently posted video, "Who said geeks can't rap?". Then you get an entirely different perspective. There is definitely a sense of humor lurking under the hood of the Mortgage Cicerone!

The variety of subjects on The Mortgage Cicerone keeps it interesting. I visit regularly now to see what Tony has found to write about. He must be a full-time reader because the number of sources he has for information is huge. You can find snippets from the Associated Press, the Baltimore Sun, the GMAC Investor Forum, BankRate.com and Savage Insights, just to name a few. I wouldn't have found the aritcle on Savage Insights except for Tony's blog, and it's one of the best articles for Loan Originators I seen lately. Thanks Tony, that one was a great piece!

When he is not busy pointing out promising articles or interesting news, Tony also writes his own articles. Check out this article on Credit Reports and Newlyweds. It's a great subject and offers solid advice to consumers.

Here's a short collection of some other excellent posts:

Do you ever feel like Michael Jackson's plastic surgeon? (you just gotta love the title)
Little things make a big difference. (the first time I've ever seen a mortgage guy using Homer Simpson as an example)
Maxed out.

The highest accolade one blogger can give another is link on the main page. It is a vote of confidence; a "Blog Nod", so to speak. If you glance to the right of this article you will now find The Mortgage Cicerone in SoundBite's very short list of read-worthy websites. It's not there because Tony leaves lots of comments, it's there because it belongs there. SoundBiteBlog is a consumer website. The Mortgage Cicerone is an industry website. Sometimes though, the two different types of information overlap.

If you have read this far, take a wander on over to Tony's corner of the internet. Take a peek at a few of the articles posted there. Tony, like Sparky and I, is blogging in the dark too. So leave him a comment or two! He'll appreciate it and his articles are worth reading. Tell him Buckwheat sent you.

Tony, Sparky and I thank you for all of your feedback and your involvement in our site!

"It's all his fault!" (or is it?)

Mark Flanders (Consulting) — Wed, 14 Mar 2007 09:37:29 -0500

I read an article here on AR this morning that was posted yesterday. I have no idea if the article is ficticious or not. It really doesn't matter. The subject is important and similar real stories are happening all around us. The Codgers describe a foreclosure and the clients who lost their house. The story is saddening, but it's the comments that I have to challenge. Well, I don't have to challenge them but I will anyway. My opinion is different from most of those posted in the comments. All I ask is that you take a moment and consider the view I propose...

There is plenty of blame to go around in situations like the one described in this story. Some people want to place all the blame in one place. They want to blame the Realtor or the Loan Officer or the Client. All the blame in one tidy little package. I don't think life works that way. Some of the blame needs to be shared by each of the players in the story.

We are real estate professionals and we must take some responsibility. Our clients come to us with their trust in their hands. That trust is often based on something as thin as the recommendation of a friend. They ask us questions like "What do you think I should do Mark" and "Do you think this is a good idea?" and they make comments like "Well, John said I could trust you, so if you think this is what's best...". They often place what amounts to Blind Trust in our education, our abilities and our ethics. They don't know us from Adam.

The clients in the story have to take the blame for a bad decision. They let their emotions and desires overwhelm their good sense. But do you really think the Loan Officer and the Realtor didn't know that was happening? C'mon folks, it happens in every deal we handle! Of course they were emotional and of course it clouded their judgement. That is the reason they needed to be able to trust the professionals involved! Did anybody stand up and simply say "I don't think this is a good idea for you" ? Why not? Should the clients take the blame for that? Where was the "voice of reason"? Isn't that what we are supposed to be?

The final chapter of a scenario like the one presented is the most telling chapter of all. The clients couldn't handle the payment and started down the path to a foreclosure. Where was the Loan Officer? Where was the Realtor? I have no doubt that a phone call from the Loan Officer to the Lender would have bought some time for the clients. I have no doubt that time is the thing a Realtor needs plenty of to help someone under this kind of pressure, get the property sold. Taking the paycheck without taking some resposibility just doesn't work for me. Call me a rock head. I think it's wrong.

There is plenty of Mortgage Broker bashing and Realtor bashing that goes on on the internet and other medias. You can read plenty of commentarty by Loan Officers and Realtors using that latest fad words like "Transparency". Most of the commentarty attempts to give the impression that this is something new or unique. What is so unique about common decency? And why would anybody use something that should be as natural as breathing, as advertising. I just don't get it.

These situations are rarely ALL anybody's fault. They are the fault of ALL. We should (in my opinion) take our share of the blame.

I don't visit the Codger's Front Porch because I find articles that make me think deep thoughts. I visit their front porch for a cup of coffee and a grin. It's a unique blog on this network and typically light-hearted. You can say anything you want there. This morning I got more than my normal cup of Joe.

Do you have articles in a series? Here's a sweet plugin

Mark Flanders (Consulting) — Tue, 06 Mar 2007 07:10:21 -0600

If you have ever written a series of articles for your blog, you know how much extra time it takes to link the articles together. Every new article you create requires you to go back to the previous articles and add a link to the new one. If your series is only two or three articles in the set, it's not that much bother. But if your series has 4 or more articles, it becomes a pain in the neck in a hurry.

Here's a plugin I have been playing with for the last couple of days and I'm impressed with how easy it is to use. The In-Series plugin for Wordpress allows you to create a Series and add aritcles to the Series. All of the linking between the articles is automated. All you need to do is add your article to the new Series and the plugin does the rest. It has worked flawlessly for me.

If you have an existing series of articles, organizing them is a snap. Simply set up a new Series, add your old articles to the new Series you create and all of the old articles are updated with links between them. It's sweet!

At the bottom of each article, a new list of all articles in the series appears. It took me less than 10 minutes to add all 6 of these existing articles to my new series. And that included a little editing time.

When you install the plugin, a new dialogue box is added to the "Write Post" and "Edit Post" pages of your Admin Panel. When you use it the first time, the dropdown list is empty and you must assign a name to your Series. There are also the choices to 'prepend' and 'append' your article to the series. So if you ever decide you want to add a new article to the beginning of the series, you can do so. Just check off the 'prepend' option, and your article is added to the beginning of the list. How cool is that?

If you get your articles into the series in the wrong order, simply pull up the edit screen, and select 'Unlink" from the pulldown box. Then you can re-order your articles whatever way you see fit. It's quite easy.

On the 'Options' page of your Admin Panel you will also have a new choice called 'Series'. There are several things you can change like whether to put you Table of Contents at the top of your articles or the bottom. The only thing that appears to be missing is the ability to edit a series name. So be careful when you type it in. Of course you can always correct an error by editing the database. But, you have to be comfortable fiddling around in your database and most users are not comfortable with that at all.

One of the things I love about Wordpress is the fact that so many plugins are available. Open source communities are terrific resources in that respect. Plugins are free! Most plugin developers will have a 'donate' link on their home page. If you really, really like a plugin, think about donating to the developer. But, it is not a requirement.

This plugin gets my vote for the week! It is useful. It was easy to install. It is easy to use. And it worked exactly the way it was supposed to. It has also been around for a while, so the bugs have already been worked out.

If you would like to see it in action click here. I have my blog set up so the Table of Contents for the Series is at the bottom of the article. Everything in the ToC list was added by the plugin.

1st Place Winner of the ActiveRain Article Contest

Mark Flanders (Consulting) — Thu, 01 Mar 2007 13:09:32 -0600

Grab a cup of coffee an quit chewing your fingernails. The Grand Prize Winner of the 1st Annual ActiveRain Article Contest has finally been announced!

A contest like this can never be entirely objective. The judges are human and the perception of quality is highly individual. Regardless, I think you will agree that the 1st Place Winner of this contest, submitted an excellent article that illuminates the characteristics of a great article by any measure.

The criteria of the contest were fairly straightforward. The purpose behind the contest was simply to find out if the members of ActiveRain wanted to improve the quality of the content on the network. We have many members who work hard at producing well-written, informative and entertaining real estate related blog posts. It is not an easy task.

The contest winner met all the original criteria. Her article is real estate related. Her article is well-written. Her article is thought provoking. Most importantly, her article is highly relevant to the other members of ActiveRain.

Lesson #7: Drive by Amber Riviere

Congratulations Amber and thank you for a great article!

The prizes for 1st Place are:

1000 bonus points for 1st Place
The Article will be Feature again today on ActiveRain
The article will be published in it's entirety on SoundBiteBlog.com with an author credit at the top and a live link to a site of your choice. Please let me know what Anchor Text you wish to use in the link.

This contest has been surprisingly successful. Originally, I believed there would be some interest, and hoped for (with fingers crossed) 50 articles. The submissions eventually totaled 75! Every one of the articles was above average. Many of the articles ranked with the best I have read since I joined the network in July. The quality of these articles was so consistently high, it became very difficult to judge them. I want to thank all the entrants for making this so difficult. It has been a real pleasure to meet all of you through your writing! I found myself saying again and again, "Wow, this one is really good too". And then I would read the next article and once again say "Wow,...".

It is clear that many more 'Rainers than I realized, are aggressively trying to produce high quality posts. We have some fascinating and often entertaining 'voices' on the network. ActiveRain is a member-driven network of real estate professionals. You are ActiveRain! We are ActiveRain! I am proud to a part of such a talented and impressive collection of the finest real estate professionals in the world.

Thank you to all the writers and thank you to all of the commenters. Active participation from both groups was necessary to make this contest a success. Feedback from the readers is what lets the writers know they have been heard. Comments are, in their own way, the most important part of a contest like this. Make sure you leave one on Amber's post. She will appreciate it!

If you would like to give Amber the highest compliment possible on this network, click the blue button in the top right hand corner of the screen. Subscribing to another members' blog is the ultimate 'blog nod' on ActiveRain. As a matter of fact, take a moment and click on the big blue button on this post! I promise, I won't be offended!

Can you feel the tension? 2nd Place Article Contest Winner

Mark Flanders (Consulting) — Wed, 28 Feb 2007 20:56:41 -0600

For any of you who have previously read this young lady's articles, it will come as no surprise at all to learn the name of the Second Place Winner of the 1st Annual ActiveRain Article Contest. This article is a terrific example of the power of shared knowledge and resources on the network..

Mariana's award winning article is a beautiful example of commentary on an article she read by another author. As bloggers, we constantly look for some new subject to type about. Mariana shows how to illuminate another writer's well-written article without any hint of plagiarism. I personally think Mariana's article is better than the original.

Oh No! Not Another "Customer Service" Post ... Yep! (Thanks to Joel Spolsky) by Mariana Wagner

Congratulations Mariana!

This article is aimed at real estate professionals. But, any potential client who might stumble across it would be impressed not only with the subject, but the style of the post. Mariana's personality shows through. She clearly believes in what she is writing about.

If you have any doubt about Mariana's writing skills, check out her series on the Realtor Code of Ethics. Mariana tackled the incredibly dry subject of the Realtor Code of Ethic. In a series of articles she has explained, in laymans language that even this loan originator can understand, the meaning and potential impact of the Code of Ethics with humor and clarity. It is a monumental task that Mariana has made look easy.

The prizes for 2nd Place are:

750 bonus points for Second Place
The Article will be Feature today on ActiveRain
The article will be published in it's entirety on SoundBiteBlog.com with an author credit at the bottom and a live link to a site of your choice. Please let me know what Anchor Text you wish to use in the link.
The article will be re-published in it's entirety on Amber Riviere's site.

As I stated in the original Let's Have A Contest post, the First Place Winner will be disclosed on Thursday morning. That way, each of the winners gets an entire day in the ActiveRain Spotlight!

Annnnd 3rd Place Goes to.......

Mark Flanders (Consulting) — Tue, 27 Feb 2007 17:54:04 -0600

The First Annual ActiveRain Article Contest (I just made that title up!) is finally completed.

There were a total of 75 articles submitted to be considered. The quality of these articles was truly excellent. Judging the submissions was not an easy task. There were many, many excellent articles on a wide variety of real estate subjects.

Without further ado, the Third Prize Winner is:

What if Business or Personal Gain Wasn't a Concern? Would You Act Differently? by Tim Maitsky

Tim's article was not a Featured Post and only received 11 comments when he posted it. It is an terrific example of what this contest was all about. It is well written and raises questions we should all ask ourselves as professionals in the Real Estate Industry.

To all contestants:

You did a tremendous job! There was not a mediocre article in entire collection of 75 articles. Your submission was competing with some of the best writers on this network and the competition was fierce. The whole point of the contest was to attempt to 'raise the bar' on the quality of the articles posted to ActiveRain daily. There is no doubt whatsoever that you all, as a group, exceded expectations.

The prizes for 3rd Place are:

600 bonus points for Third Place
The Article will be Feature today on ActiveRain
The article will be published in it's entirety on SoundBiteBlog.com with an author credit at the bottom and a live link to a site of your choice. Please let me know what Anchor Text you wish to use in the link.
The article will be re-published in it's entirety on Amber Riviere's site.

As I stated in the original Let's Have A Contest post, the Second Place Winner will be announced tomorrow morning and the First Place Winner will be disclosed on Thursday morning. That way, each of the winners gets an entire day in the ActiveRain Spotlight!

ActiveRain Week in Review - M.I.A

Mark Flanders (Consulting) — Mon, 26 Feb 2007 19:27:19 -0600

I have received several emails today asking about the Week In Review. Alas, the ball was dropped again and we will not have one. Does anybody even want one?

The ActiveRain Week in Review was originally started by Matt Heaton as a way to recap the best of the week's articles and to summarize the important happenings on the network. Matt published the Week in Review the first time on November 6th of 2006. It was immediately popular.

It is impossible for any of us to continually keep up with all the good articles that are published on the network. We have jobs and families and outside interests that keep us from being on ActiveRain full-time. So, in December, Matt requested volunteers to host the Week In Review. A number of 'Rainers volunteered and the Review has been maintained by the members of ActiveRain ever since.

The current list is down to one name. Jeff Turner will be the Week In Review editor for this week and his Review will be published next Monday, March 5th. After that, the list is empty.

I like the Week in Review and I look forward to reading it with my coffee on Monday morning. I always find articles that I missed during the week. They have always been worth reading. The Week in Review is not just a list of featured articles, there are many examples of great articles that were not featured at the time. And, each Week in Review has been individualized by that week's editor. I get a glimpse of how the editor writes and how they view what is important.

Does Anybody But Me Want To Keep The Week in Review?

If you want to keep it, leave a comment. If you don't want to keep it, leave a comment. If you don't care one way or the other, leave a comment. We need some member feedback about this. ActiveRain is a member driven community and you are a member! Your opinion counts!

I suspect that most people will want to keep the Review. We need volunteers to host the Week in Review beginning March 4th, 2007. The week runs from Sunday to Saturday and is published Monday morning. Before you volunteer, consider the following:

The review takes alot of time and effort. You must be willing to commit to the effort necessary. The editors of the Week in Review spend all week reading and making notes and then several hours writing and formating their Review. It is not a small task.
Hosting the Review gains you some community recognition. Each review is individual.
The editor of the Week in Review receives 600 additional points for hosting.
The Week in Review always gets alot of comments!

Two out of the last three Reviews were never completed. Billie (aka TLW) hosted the last one and tried to cover the week before because it was MIA.

If you are interested in hosting the Review, leave a comment. Please read Matt's original post beforehand. There are some minimum requirements to being an Editor. There is also a Week in Review Editor Tool available. It makes the job of organizing and publishing the Review much easier and is available to any Editor.

Contest Update

Mark Flanders (Consulting) — Thu, 22 Feb 2007 06:16:54 -0600

ActiveRain's first article contest has just passed the half way point. The clock is ticking and the entries are piling up. There are 10,000 points up for grabs! The deadline is Saturday at 12 midnight, PST.

For those of you who missed the original post, I have included a link to the original announcement. The contest has been Officially Approved by ActiveRain. You can find Jonathan Washburn's comments and "contest sweeteners" about 14 inches down the page. I'll warn you now the thread has gotten very long and your scroll bar will get a workout.

Here is an update of what has transpired since Sunday.

59 people asked to participate in the contest
45 people have joined the contest group Prime Time
32 articles have been posted to Prime Time
16 of the articles have already been Featured!

To put these numbers into a different context, consider this. Each day on ActiveRain there are approximately 300 new articles posted. Of the 300, approximately 30 are Featured (or 1 out of 10). The articles that have been entered in the contest have been Featured at the rate of 1 out of 2! The quality of the articles being entered in the contest is much higher than normal.

The Contest Is A Call To Action

ActiveRain was designed to promote individual Real Estate Professionals on the Internet. Most people do not have the interest or the skill or the time to design and maintain a website that generates business. Yet, we all want one. We are all members of ActiveRain because we see some personal benefit to be gained. Some members like the social aspects of a network, some like to blog, some members are looking for information and some are selling products or services to Real Estate Professionals. We all have Real Estate in common. And we all want Internet exposure.

The idea behind this contest is very simple. If a potential client finds you on ActiveRain because they are searching the Internet for someone like you, you have very little time to make a good impression. These potential clients, will begin to know you through your writing. Suddenly, what you write and how well you present yourself has become very important. The public is watching. Consumers have discovered ActiveRain! Consumers in your area will find you because ActiveRain is very good at what it does. ActiveRain profiles rank consistently high in search engine results. So your blog on ActiveRain needs to get it's Sunday-Go-to-Meeting-Clothes on and make a good first impression. Contests tend to make people reach for excellence. And excellence makes a very good first impression.

If this is the first you have heard about this contest, you still have time to enter. You will need to join the Prime Time groupand you will need to add your article to the group to enter it in the contest. There are prizes for the First, Second and Third place contest winners. There will be quite a bit of exposure on and off of ActiveRain for the winners. There are also many ActiveRain Points up for grabs.

Read the contest guidelines carefully and then enter one of your articles! What do you have to lose? What might you gain?

The contest articles must be Real Estate Related and the maximum number each author can submit is limited to two. Other than that, there are few limitations. You can write on any subject you choose. You can write in any style you prefer.

Interesting Tidbits

A Seattle PI real estate blogger has joined the contest and is concerned that his article is not good enough!
I have received multiple inquiries from Real Estate Blogs outside of ActiveRain wanting to host the winning articles!

This contest will get you exposure both on and off the ActiveRain network!

Welcome One and All (Info on the Contest)

Mark Flanders (Consulting) — Mon, 19 Feb 2007 08:47:53 -0600

Hi everybody and welcome to Prime Time !

If you are reading this you have joined the Group. Now all you need to do is add your Contest Article to the Group. Here's how:

Go to you blog entry and click on EDIT
At the bottom, where all the categories are, you will see a list of any Groups you are a member of. Check the box labeled "Prime Time". Now it will be included here.
If you do not want your Article to show up in the normal ActiveRain blog list, you need to post the entry from this Group. In other words, if you want your article to be invisible to anyone not a member of Prime Time until after the judging is over, you must post it here and not on your normal blog space.

The following people are playing in this Contest:

Randy Prothero
Sarah Cooper
Lola Audu
Cynthia Sloop
Luke Constantino
Jonathan Greene
Kathy Nielsen
Jeff Dowler
Sue Arque
Linda Davis
Sheron Cardin
Roberta Lee
Tom Giansante
Jacqueline McCroy Elbert
Lenn Harley
Kelli Fronabarger
Betsy Talbot
Maggie Dokic
Marc Blasi
Judy Kincaid
Lanette Branch
Toby Barnet
Tina Howell
Joan Whitebook
Ann Cummings
Pete Elsner
David Matney
Lisa Hammerstein
Amber Riviere
Brande Bradford
Lewis Poretz
Deborah Burns
Chris Bradford
Margaret Rome
Christiane Harrison
Steve Scheer
Jason Price
Tony Marriott
Don Rich
Sharon Simms
Diane Bell
Shanon Sims
Allison Stewart
Andrew Cox
Tim Maitski
Rob Robinson
Carol Clawson
Elena Thurston
Christopher and Bernadette Hurley
Doug Beaver
Jeff Belonger
Netta Blackwood
Lloyd Nichols
William Collins
janeAnne Narrin
Ines Hegedus-Garcia
Renee Burrows
Mario Levesque
Brian Schwind
Rich Schiffer
Mike Mueller

Well, that's a heck of a line up! And I'm sure we will have some late arrivals.

One thing to note: If you are publishing your entry on your normal blog, it may get Featured before this contest ends. If so, Great! It will be Featured twice. Once when AR features it and the second time if you get 1st, 2nd or 3rd place on this contest.

Let's Have A Contest

Mark Flanders (Consulting) — Mon, 19 Feb 2007 06:23:26 -0600

Here's a solution for two problems at the same time.

The Newbie's Complaint - "What does it take to get my post Featured on ActiveRain?" (thanks for the idea Kelli)
The Old Timer's Complaint - "Most of what gets posted on ActiveRain is junk! Where the heck are the good articles?"

Let's solve both issues at the same time. This is not an official ActiveRain sponsored event. But that doesn't matter. ActiveRain is a member driven site, and I'm a member. So, I'm taking some initiative here. Hope the AR guys don't mind too much.

Newbies (or not):

If you want to get noticed on ActiveRain, you need to get Featured. Featured articles are read by hundreds of members. If an article gets Featured and it's good, members tend to either bookmark the article, add you to their associates list or subscribe to your blog. After that, they come back to your blog looking for more good articles and it gets easier to be noticed. The hardest part, obviously, is to get noticed the first time!

Here's your chance. In this contest, points don't mean squat. Everyone has an equal chance.

Old Timers (in internet time):

There has been a whole bunch of complaining going on about the falling quality of articles on ActiveRain. It's time to try to change that. I read almost all of what gets posted in the 'Rain. Crazy but true. And, I tend to agree that currently, the percentage of quality articles is dismally low. Part of the reason it is so low is that many of the old timers aren't posting anything good! So here's a call to action. How about posting up something that raises the bar? You've done it before. You must have at least one more good article in you.

The Rules (yeah I know, but we need some)

Must be written between Feb 18,2007 and Feb 24,2007.
If it's not fresh it will get cut. Let's get some new articles to read. If you want to rewrite an old article, go for it. But don't submit anything you have posted here on ActiveRain or on your outside platforms.
No Cut and Paste. (I hope I don't need to explain that.)
Copyscape (if it doesn't pass the Copyscape test, it's out, I detest plagiarism)
Late entries (will not be accepted. No exceptions. The cutoff is midnight Feb 24, 2007)
Sign up (you must be signed up to play, leave a comment here for now, I'll have something better soon)
I have just added a new Group called "Prime Time" (all contestants need to become members and your article needs to be added to the Group)
Maximum of 2 articles per contestant

Criteria

Unique ( a brand new article)
Minimum 300 words (I don't believe you can write quality in less than 300)
Grammar (if you have trouble with this, get someone to proof read your article)
Spelling (your blog has a spell checker, use it)
Tone (if the article is positive and upbeat, it gets a more favorable rating)
Subject (any! Write what you know about or what you feel passionate about)
Aesthetics (attractive layout and graphics will get a more favorable rating, it takes more effort to make it pretty)

The Prizes

A contest is no fun without prizes. So, here's what will happen to the winning articles. There will be a first, second and third place winner.

Winning articles will get Featured. Third place will get featured on Tuesday the 27th. Second place will get featured on Wednesday the 28th. And First Place will be featured on Thursday March 1st. How can I be sure they will get featured? Simple, I'll get my cohort Rich J, we'll drive to Seattle and refuse to leave until the posts get featured! Sounds a little crazy, but you know it will work. In reality, that won't have to happen. Matt, Caleb and Jonathan are very responsive to this network and the members of it. All three of them have written some very good articles. They must get tired of reading the lame posts too.
Points - We like to get them or complain about not having them. ActiveRain runs on points so let's give some away. I propose 1000 points for 1st Place, 750 points for 2nd Place and 600 points for 3rd Place. I need to get the nod from an AR guy on this. I have no authority or ability to give away points. Can we get the stamp of approval on this from somebody in ActiveRain?
Your article will get featured on SoundBiteBlog.com. This is not as big a deal as being featured on AR, but SoundBiteBlog does have a respectable readership and it can't hurt can it? It will also help with your internet exposure. A backlink from SoundBiteBlog to your profile or ActiveRain blog is a good thing.
The winning articles are bound to make it into the Week In Review on Monday the 5th! So you will get acknowledged one more time!

Summary

Sometimes it takes aggressive action to affect positive changes. That is what this contest is all about. This contest could fall flat on it's face unless you (yes you) do something. Write an article. Help someone else to proofread their article. Tell your ActiveRain buddies about this contest and get them involved. But do something. Nobody loses and everybody wins. THAT is positive action. This network has over 16,000 members! If only 1% of the people submit an article, we'll have a great contest and many read-worthy articles.

If you decide to do nothing, you have no right to complain about the network! Do something with this! Get involved! Get somebody else involved! Here's an opportunity for everyone. It doesn't matter if you are new or have been here a while. This network is a collection of members. If the members do nothing, the network goes nowhere. If this contest fizzles, we will have nobody to blame but ourselves.

Notes

I will recuse myself from this contest for obvious reasons. After some thought, Rich Jacobson is also eliminated (sorry Rich). As many of you know, Rich is "Sparky" on SoundBiteBlog.com.

It's Raining Talent! - Another Unsung and Overlooked Collection

Mark Flanders (Consulting) — Sat, 17 Feb 2007 23:57:59 -0600

There's a Talent Search going on!

If you are new to ActiveRain, you may not have seen one of these before. The Unsung and Overlooked Collections are an ongoing search for the new talent that comes to AR everyday. The ActiveRain network has been growing so fast it has become difficult to get noticed when you are new.

These articles did not get " Featured" on the network. Most of them were overlooked. Many of them only have 1 or 2 comments.

The purpose of the Unsung and Overlooked series is to get some exposure for ActiveRain members who are writing good articles that don't get noticed. This is just one member's way of Featuring what I think are great articles. I have read each article in this collection. Each one is worth reading.

There are 23 articles in this batch.

Here's How It Works

Step 1 - There is a blue button in the top, right corner of your screen that reads "Subscribe". Click the button. Good, now you can easily find the future Unsung and Overlooked collections.

Step 2 - Click the link to the collection that is a little further down the page. You will be taken to Collection 3 where you can read the articles and leave comments for the authors. Don't forget to comment! It is very hard to write a blog post and then have it not get noticed.

Step 3 - Come back to this post and let me know what you think! I like comments too!

This really is a great collection. It's one of the best so far. If you are one of the authors in the list, Congratulations! Your writing caught my attention and this post should help get you noticed by the other members of ActiveRain. Welcome to the network.

Here's the link to Collection 3.

Here's Collection 2 and Collection 1. And here's a link to the article that started the whole idea.

Enjoy the reading everyone. It's Raining Talent!

Footnote: If you are wondering if this works, just ask Maggie D. She has been a "Featured" author 5 times since her name appeared on the first Unsung Collection on January 16th. Is it a coincidence? Maybe!

More Talent Discovered in the 'Rain

Mark Flanders (Consulting) — Sat, 10 Feb 2007 16:26:55 -0600

This is the second edition of Unsung and Overlooked ActiveRain blogs.

Just like last time, there are some real gems in here. I threw a couple of surprises in for everyone to find too. I'm not going to tell you what they are, you'll just have to go find them. You will know them when you see them, believe me!

We have talented people arriving daily. We have nearly 300 posts per day added to the network. Featured posts rarely exceed 30 in one day. So, there are many, many articles that don't get a chance to see the light of day. All of us on this network have experienced the "No Comment Phenomenon". And it bites! You don't know if your post got missed altogether, or was it so bad nobody said a word? I think many times posts just get lost in the mass of published articles that happen each day.

Unsung and Overlooked is just another way to get more people noticed. Most of the authors are fairly new to ActiveRain. I enjoyed each of these articles for one reason or another. I believe you will too.

Don't forget to comment as you go! That is the whole point of these compilations. Let the writers know they are not invisible and the 'Rain is not the big and impersonal place it appears to be at times.

You just can't read too many good posts in one day! There is always room in your brain for one more good one, right? Well, here ya go.

You can read Unsung and Overlooked #2 here.

You don't need to logout of ActiveRain. Just follow the link and use your "Back" button when you need to navigate around. You will still be logged in when you finish.

Some of the posts are "Members Only", so if you are not logged in you will get the big red error message.

Enjoy the articles and don't forget to leave comments!

Unsung and Overlooked Edition #1 is here. And the post that started it all, My Blog Isn't Bad It's Misunderstood, is here.

ActiveRain Week in Review - Jan 22 to Jan 28, 2007

Mark Flanders (Consulting) — Mon, 29 Jan 2007 16:44:26 -0600

The week-in -review is finally ready for your viewing pleasure!

This was a tough week in the 'Rain. Rife with turmoil and angst, the network stumbled and lurched it's way to relative peace by mid-week. Many of the articles that were posted were peace keeping in nature. That's one of the reasons I keep coming back. We have a fine collection of thoughtful and level-headed members, both new and old, who work hard to make this a valuable community.

One of the biggest items in the news for the week was the introduction of the long-awaited speel chicker! For those of us who are consonant and vowel challenged, it was a late Christmas present. There is nothing worse than writing a good article and looking like a bonehead because you can't spell well or you type too fast. Thank you ActiveRain crew!

You can find the Week In Review here, or by clicking on the image above. Thank you to everyone who posted articles this week. The amount of material is nothing short of staggering.

I came across many articles in my reading marathon that had gained little attention. So, later this week I will be posting the second edition of "Unsung and Overlooked".

To all the week-in-review editors before me, Thank You. What a big job this is and all of you did a superior job of it. You have my well- earned respect. I have listed links to the previous weeks' reviews in this weeks RoundUp.

Some of the articles are Members Only, so make sure you are logged into ActiveRain or you will receive an error message.

Mark Flanders

Kitsap County Real Estate

Mark. there's a newspaper reporter on line 1

Mark Flanders (Consulting) — Wed, 24 Jan 2007 18:39:40 -0600

This was the surprising message from my receptionist yesterday. With obvious excitement in her voice, she reiterated that a local newspaper reporter was asking for me by name.

After a moment of panic (could he have somehow found those old pictures?) I picked up the phone with curiousity...

I found out that he was indeed an employee of our local newpaper. He is writing an article on the new, elevated FHA Loan Limits in Kitsap County. He wanted to get my opinion of how this might affect the real estate market in the surrounding towns. He wanted to clarify some of the details concerning the FHA program. But, the biggest surprise came when I asked him how he managed to get my name. His answer; "I found you on a real estate network site. It said that you specialize in FHA and VA loans. Is that right?"

After he finished with his questions, I thought I would ask a few of my own. Mostly, I wanted to know how in the world my name came up in association with FHA Loans. Here's how he found me. Just like the rest of us, he turned to Google to begin his research. The intrepid, young reporter began with all the local towns with "FHA" appended to the search. In each case, he found the Olympic Northwest Mortgage site first and the ActiveRain profiles right behind it. The Olympic Northwest site made perfect sense to him, but ActiveRain was something new and he clicked on it. There he found the company profile. When he clicked over to the main page, he found my profile at the top of the page and decided that I must be the guy to call. He read my profile and was sure I was the guy to call. So, he called, asked for me by name and surprised the receptionist to no end.

ActiveRain is popping up in surprising places. I had another interesting and unexpected conversation this morning with a Lender Account Executive. This gentleman visits our office weekly and has for over 2 years. Today he closed my door and told me that I should check out a new website that he had discovered because it was not like anything else he had seen. I asked him the name and, you guessed it, ActiveRain. I had to laugh. After I thanked him I pulled up the Washington page and enjoyed his look of chagrin.

Whether you are new to this network or have been around for a while, you may have asked yourself if all the hype is really based on results. Well, sometime in the next couple of weeks, on one of those slow news days, I will find my name in the local paper. And the reason I was called was because of the profile on ActiveRain.

Update 01-25-2007 - As requested, here's the link to the Kitsap Sun Article (my 40 words of fame and glory)