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rentals: Did Congress cut off the nose to spite the face? - 08/20/08 01:43 AM
I'll keep this one short and sweet:
What will cause more damage to home values: Termites or Congress?
How many of today's short sales and foreclosures are FHA? Not many! - During the boom years, you couldn't do an FHA loan because the loan limits were lower than what homes were selling for. On top of that prices were rising so why would a seller give up a 3% donation, especially when others didn't need it due to the readily available 100% financing programs?
Now that we can agree that our market woes were not caused by FHA loans going into default...
It leads … (9 comments)
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rentals: There may never have been a real estate market situation as this! EVER! - 08/18/08 09:26 PM
With the impending end of down payment assistance, there may never have been a more ripe opportunity to "MOVE UP" or switch homes.
Sell now...Buy later!
A majority of transactions that have occurred in the AFFORDABLE price range lately have been FHA transactions.
Sell now...BUY LATER!
Many of these transactions involve Down payment assistance.
SELL NOW!!! BUY LATER!!!
Although the demise of down payment assistance programs is slated for October 1st, I just received word that in Arizona, a pretty active real estate market, down payment assistance programs are seeing their last days well before the October 1st to contract, … (12 comments)
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rentals: Move up buyer mathematics may work for those clients on the fence. - 04/01/08 08:50 PM
It would be hard to deny that we are currently in a buyer's market. But I hope this strategy helps you to help your clients take advantage of today's market opportunities.
Anyone hear this lately from a client:
"This past weekend, we drove by a home that is in the neighborhood that we've always wanted to live in. We saw a home that was on the market that was bigger than ours and nicer than ours and it is for sale for less than we bought our home for!"
Pretty exciting, so far isn't it? Then comes the potential deal breaker:
"What do you think we … (13 comments)
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rentals: Tempe, Chandler, Gilbert, Mesa, Ahwatukee and Scottsdale Road Closings - 03/28/08 05:01 AM
For East Valley residents in Arizona regarding important traffic update! If you don't live around here, skip this and go to the next post on Push those home prices down so we can all get along with our lives! below.
This weekend, the East Valley will be having rubberized asphalt and other freeway improvements done.
Since the real estate market is picking up, be aware of the weekend closures: http://www.eastvalleytribune.com/story/112346 Be safe with showings this weekend! … (2 comments)
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rentals: Push those home prices down so we can all get on with our lives! - 03/28/08 12:54 AM
A depression is either a long recession or a severe recession.
Let's see if we can avoid the depression by getting back to normal!
If agents can push housing prices down to levels that are fundamentally sound, and do this quickly, consumer confidence can increase. The increase in consumer confidence will in turn cause consumption to return to healthier levels.
As an agent on the listing side, your job is to get a property sold. There are two factors, price and time, that will be used to calculate customer satisfaction. Sell for higher than market in a short time-frame and … (16 comments)
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rentals: First Time Homebuyers: "Please handle with care!" - 03/26/08 11:15 AM
We as an industry need to show care and concern to protect the First Time Homebuyers!
When I ask a first time homebuyer, "What made you decide to purchase a home, now?" They usually respond:
"Well, the market has come down so much that I figured that this would be a great time to buy!"
Thank goodness I was able to get to them first before someone sacrificed them to an overpriced listing.
We've got to realize that we've got to protect this new wave of buyers from becoming cannon fodder for overpriced sellers. We have to spend time educating … (21 comments)
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rentals: FHA DPA's: Agents earn "sales" bonus of $250.00 to $650.00 using it! - 03/25/08 03:58 PM
In a market plagued with agents unaware of shifts in strategy, "know how" with FHA Down Payment Assistance programs could get you a nice bonus! Best part about it? It is a WIN-WIN-WIN situation.
SELLER sells their home! BUYERS go from rent to own! AGENT sells a listing!!
Now that FHA maximums have been increased, raise the price on your inventory and you move a home and get a bonus!
Buyers are looking for opportunity with low risk factors. Show the market how a home can be purchased easily and you increase your chances to sell. Show the buyers they can … (11 comments)
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rentals: Letter to tenants prior to listing an occupied home. Please advise! - 03/24/08 09:47 PM
Since there are so many great suggestive posts on AR, and since I have already benefitted by reaching out for agent suggestions on another issue, I hope to get some feedback that could better help the agents I help.
I have recently been asked by several agents for any assistance I may provide them in contacting tenants. The request was to help accomplish two objectives:
Inform them of their property possibly changing owners. To reach out and invite them to consider purchasing a home in a great buyer's market. Please provide any insight or recommendations as you see fit.
Here goes:
… (8 comments)
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rentals: Home Staging, Good Luck If You Don't Use a Home Stager! - 03/22/08 04:41 AM
I wrote this in reply to a comment that I made on a "Home Staging" professional's blog. I thought that this might help people better understand what home staging can do to help sell a home. In today's market, people better do what they can to make a home stand out. The feeling of "being home" that a stranger gets from properly planned rooms really does add an advantage. The post deals with the numbers. Substitute the typical area's quarterly market drop for the $5,000 as you see fit. Remember, I'm a lender and I see enough transactions monthly to see … (13 comments)
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rentals: What in the world is the Fed trying to do? - 03/17/08 08:39 PM
I'm going to warn you that this post will be a tough read and I welcome any questions or countering arguments.
Here goes:
Our economy is in a bit of a slide caused by a credit crunch/tightening of policies.
Because the amount of losses that will occur is still being underreported, there is investor uncertainty in the credit markets.
Usually when the Fed cuts rates, the stock market goes up because companies can expand because of cheap credit. Problem: If we're in a credit crunch, it doesn't matter how cheap you can make money cost, if no one is willing to … (2 comments)
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rentals: Google search results: Number 2 in Tempe, #'s 3&4 in Gilbert, Number 1 in Maricopa County - 03/14/08 07:26 PM
Here I am, ON TOP OF GOOGLE!! The top result on the first page!
Can you believe it?
I joined Active Rain last Friday, March 8, 2008 in the evening.
Active Rain participation truly works!
At first, my blogs were a big block of text. It is funny because I thought that I was putting some pretty good stuff out there. I should have known that if I don't have the patience to proof read it thoroughly, others won't have the patience to read the post.
I worked to get better and I was amazed by the results of … (18 comments)
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rentals: Tempe, Chandler, Gilbert, Mesa DOM UNDER 100 Days. The rest of USA??? - 03/13/08 12:28 PM
ARMLS statistics show nearly every ZIP Code's "Days on Market" for Arizona's East Valley home sales now under 100 days!!!
What's wrong with the rest of the country?
What about the 50,000 other listings currently sitting on the market here in Arizona? Oh, I forgot, the Days on Market is only finite for those homes THAT HAVE SOLD!!
Here's the Brazillion dollar question:
Have the other sellers and agents even identified what their lowest target price is?
Rather than run the risk of having a sales price of a listing spiral downwards out of control...
Rather than having to have discussions with your seller … (3 comments)
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rentals: Man, Could #1 in Maricopa County Have Been More Right? - 03/12/08 12:05 AM
I will submit to being banned for this. This is the best thing I've seen so far for a posting. If you agree, please say so:
(By the way, don't read and dash! It did hit the head on the money, didn't it?)
WHAT HOMEBUYERS WANT IN 2006
Just post wheter or not he hit the head on this? He got one comment on his post back in 2006. Maricopa County's #1 on AR Tony Marriott through all of his Active Rain involvement and collective learning
HIT THE NAIL ON THE HEAD!!!!
TELL ME WHETHER OR NOT "DIGGIN' IN THE CRATES PAYS … (14 comments)
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rentals: Goldilocks and the Three Houses - 03/11/08 03:57 PM
The Story of Goldilocks and the Three Houses
Goldilocks, while walking through the woods, comes across urban sprawl. Never seeing something like this before, she decides to take a look: She's seen homes before but there are three strange ones with white posts and hanging signs showing For Sale. "I wonder how much these are?" The first one was nice, but upon entering the home, she found out it was a short sale and said, "This one is priced low but I don't think my offer will get accepted. Afterall, it is a short sale and I hear those could take … (14 comments)
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rentals: When Selling your Home, Did you have a Chance? Did you have a plan 'B'? - 03/11/08 12:37 PM
I used to hate going down into the basement. I didn't care if it was day or night. I just saw too many scary movies.
When I would have to go down, I knew what I would do if I was attacked by a monster. I had a plan. Maybe today's sellers are fearless since their backs are up against the wall; maybe they're just bold. I just have one bold statement for the bold:
Without a plan for selling, too much is left to chance! Without a plan 'B', frustration and worry will fester!
Sellers should inform their … (1 comments)
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rentals: No Credit Score Financing Available with LESS than 5% Down! - 03/10/08 03:16 PM
Nationwide, buyers can purchase with no or low credit scores provided a NTRMCR can be created. If so, the buyer has met the minimum credit guidelines for government financing loans.
NTRMCR = Non-Traditional Residential Mortgage Credit Report
What gets put on the report?
Proof of utility bills paid on time with no 30 day lates. Rental History Non-payroll deducted health insurance Auto Insurance Cell Phone Bill Even a history of regularly saving $50.00 per month will make it on the report. Basically, any type of payment history covering 12 months of on time payments, with an account number, with a high amount of … (4 comments)
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rentals: Open House Mathematics: Show me the money! - 03/09/08 09:26 PM
Number of attendees X Pull Through % Rate X Average Commission per Property = Seven Year Earnings
Attendees = Lookie Lou's and Nosy Neighbors
Pull Through Rate % = Typical conversion rate of your followed-up efforts on database suspects and prospects (usually 20-30%)
Average Commission per Property = General Market Value of Homes in the neighborhood X commission %
So, get 20 people to show up at an open house in a $300,000.00 neighborhood whereby a professional fee will earn you 3% and your seven year earnings will be:
20 x 20% x $300,000 x 3% = $36,000
$36,000 is … (10 comments)
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rentals: The Beautiful Happy Joyful Benefits you get with Short Sales! Part 2 of 2 - 03/08/08 04:18 AM
I recently posted "The Problems you get with Short Sales". It was a set up from the get go. Short Sale transactions have popped up and hit us by storm. Everyone seems to know what one is, inside and outside the industry. The glass really is 1/2 full. Let's use it to our advantage.
Original "problems" from other posting in italics. Positve approach viewpoint in regular type. Let's enjoy!
The can kill a street's, subdivision's, community's, town's, city's, county's, state's property values pretty quickly. Great! Now a whole wave of clients that missed out on the property run up before the … (10 comments)
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rentals: The Problems You Get With Short Sales (Benefits You Get will be posted soon) - 03/08/08 03:16 AM
The can kill a street's, subdivision's, community's, town's, city's, county's, state's property values pretty quickly.
If your not selling short in an area, you lose and the short seller wins. If you built up a lot of equity or put down a large downpayment that has kept you from having to go short, the price you think you're setting "below market comparables" will be the low-water mark that any new short-seller next to you will use when setting their price. Your time on market will be until the quality short sale properties sell out or force prices to where you now … (6 comments)
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Mark Organek - Las Sendas Homes for Sale REALTOR
Mesa,
AZ
More about me…
Solutions Real Estate
Address: 2353 E. Baseline Rd., Gilbert, AZ, 85234
Office Phone: (480) 838-6513
Cell Phone: (602) 790-0607
Email Me
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