Lou Finnegan's Blog

FLOOD INSURANCE, CONGRESS, THE IRS AND YOU

Lou Finnegan (Keller Williams Realty) — Thu, 10 Jun 2010 09:39:06 -0700

THE INABILITY TO CLOSE A SALE BY JUNE 30TH DUE TO THE LACK OF FLOOD INSURANCE AUTHORIZATION IS FAR MORE IMPORTANT THAN A SINGLE COMMISSION CHECK. I CAN'T ESTIMATE THE NEGATIVE IMPACT TO THE ECONOMY, BUT PERHAPS NAR CAN. THIS ISSUE WILL AFFECT BUYERS, SELLERS, THE RECOVERY OF OUR INDUSTRY AND THE ECONOMY IN A MOST NEGATIVE WAY. I HAVE SENT IN MY LEGISLATOR LETTERS ON THIS ISSUE, HAVE YOU? DO IT TODAY!

IF CONGRESS FAILS TO ACT IN TIME, THE WHOLE HOME PURCHASE TAX CREDIT PROGRAM IS FOR NAUGHT. IN FACT, I SUSPECT THAT MANY DEALS WILL BE LOST FOR GOOD IF THE BUYER COUNTED ON THESE TAX CREDITS FOR FINANCIAL JUSTIFICATION.

I CALL UPON NAR TO BEGIN A LOBBYING EFFORT DIRECTED AT THE IRS, THE TREASURY DEPARTMENT AND THE IRS CONGRESSIONAL OVERSIGHT COMMITTEE TO ALSO PUT AN EXTENSION OF THESE TAX CREDITS IN PLACE TIED TO THE APPROVAL OF FLOOD INSURANCE COVERAGE EXTENSION. A LETTER CAMPAIGN TO THE PRESIDENT WOULD ALSO BE JUSTIFIED, AS THE ECONOMY CANNOT TAKE ANOTHER BIG HIT AT THIS TIME.

LET'S HOLD THEIR FEET TO THE FIRE ON THIS ISSUE!

Historic home referral opportunity

Lou Finnegan (Keller Williams Realty) — Fri, 04 Sep 2009 08:39:52 -0700

Greetings,
As you have been active in marketing historic properties, I thought you might be interested in a buyer referral fee for a $1,500,000 listing of mine. It's completely restored, in a commercial zone and in the Historic District of St. Marys, GA. It has B&B, professional office space or small retail in addition to the large residence.

There is a video on YouTube at: http://www.youtube.com/watch?v=CIZmtuiY47Q&fmt=18

If you have any buyers, please contact me.

Sincerely,
Lou Finnegan
Keller Williams Realty
912-882-4850
lfinn@tds.net
http://louis_finnegan.georgiamls.com

Enhance Your Lot Listings With A Video Tour

Lou Finnegan (Keller Williams Realty) — Fri, 19 Jun 2009 09:25:40 -0700

Many Realtors put very little effort into marketing their building lot listings. Some don't even provide a picture, let alone a full complement of pictures, and never use a Virtual Tour to promote the listing. I agree that it is costly and a lot of extra work for an isolated lot or two. However, there is no reason not to promote the subdivision and the surrounding community.

I use my own pictures (video clips are OK too) and in many cases a voiceover track to sell the community, not the lot itself. The number of free or close to free Internet portals are grwoing and once the video is created, it can be posted many times over.

For an example, take a look at my video promoting lot listings in Cumberland Harbour. Although it has developer issues like many places these days, the natural beauty of it will prevail in the end.

http://www.youtube.com/watch?v=NtBES2UA1t4&fmt=18

Good selling,

Lou

Promote Your Listings With YouTube

Lou Finnegan (Keller Williams Realty) — Tue, 09 Jun 2009 16:19:35 -0700

I have a new listing in St. Marys, GA of a registered historic site. The Jackson-Clark house at 314 Osborne Street was built in 1801 and completely renovated by a direct descendant of the owner, Archibald Clark. Historic ties connect Maj. Clark to President Thomas Jefferson, Vice President Aaron Burr and others.

There is so much rich information and documents pertaining to this property, which includes a building lot, that for the first time I felt that marketing collateral and virtual tours just couldn't tell the story in a way that captured the time period and events. A friend suggested a video that could be placed on YouTube and other media-friendly Internet sites.

By using my still pictures (video clips work too) and adding a music track and a scripted narration, I was able to tell a story about the house, the owner and historic St. Marys that, I hope, makes the property come alive for the viewer.

To view this video, search YouTube for "Historic 1801" or use this link to connect directly to it:

http://www.youtube.com/watch?v=CIZmtuiY47Q&fmt=18

Comments are always graciously accepted and appreciated.

Timing mortgage rates is a sure way for a buyer to lose.

Lou Finnegan (Keller Williams Realty) — Wed, 15 Apr 2009 13:21:52 -0700

With a huge inventory of housing and continued financial market turmoil, it's perfectly understandable why buyers are still sitting on the fence. What's the hurry? Unfortunately for them, most buyers focus, with our help I might add, on the day-to-day rate fluctuations as a sign of the magic moment in which to act. This is a sure recipe for a mistake.

Mortgage rates, and the government securities that back them, are only one indication of where the market "bottom" is. When the stock market is perceived to have turned the corner (usually six months before it does) Treasury note yields will begin to rise again simultaneously. In addition, the Treasury is waging an unprecedented production of new money (i.e., future debt) to combat the current crisis.

The net result will likely be increased inflation, which will rob consumers of purchasing power. If they have waited only for the lifetime low mortgage rate, it will then be too late, and the huge purchasing leverage they now have will slip away from them once again. Not to mention the perfect property solution.

Watch the rates if you must, but keep a sharp eye out for signs of renewed inflation!

The Lenders Do NOT Want Your Home

Lou Finnegan (Keller Williams Realty) — Tue, 07 Apr 2009 07:18:05 -0700

Breaking the foreclosure cycle, a/k/a, your mortgage lender does NOT want to own your home! The best time to avoid the downward spiral of foreclosure, auction and ruined credit is BEFORE it happens. Think about it: mortgage lenders loan money and are very unwilling property managers. This is the last thing they want to see happen.

In general, they will go to great lengths to keep you in your home and avoid the very costly process of advertising and legal hurdles to take your home back. Even when they do, they turn to Realtors to salvage what they can out of the asset, because their product is money, not real estate. Nobody wins in this scenario, and the damage to your credit will follow you for a long time to come.

Keller Williams Realty in St. Marys, GA has two dedicated professionals to assist and advise homeowners on alternatives to the foreclosure process. LaTosha French is an expert in dealing with lenders to find alternatives to a foreclosure. She has business relationships with a majority of the mortgage lenders, and knows how to negotiate with them on the owner's behalf. Recent legislation to prevent foreclosure and keep owners in their home is another tool that LaTosha can use.

Lou Finnegan has years of experience in marketing properties. His comparative market analysis (CMA) provides the owner with real-time pricing information on what is selling, and what is not. His expertise in staging, photography and Internet marketing results in the most competitive positioning for his seller clients. Even in this severe real estate downturn, properties in St. Marys and Kingsland are selling. Lou's focus, attention to detail and communications skills can put your home in the "must see" category.

LaTosha French can be reached at 760-927-8001, or by email at reospecialist4u@yahoo.com. Lou Finnegan can be reached at 912-882-4850, or by email at lfinn@tds.net.

HELP FOR HOMEOWNERS IN FINANCIAL TROUBLE

Lou Finnegan (Keller Williams Realty) — Mon, 06 Apr 2009 11:59:27 -0700

LaTosha French can be reached at 760-927-8001, or by email at reospecialist4u@yahoo.com. Lou Finnegan can be reached at 912-882-4850, or by email at lfinn@tds.net.

Call or email today for a no obligation consultation.

Hmmmm. Golf, Fishing or Just Discovering Nature. I Can't Decide.

Lou Finnegan (Keller Williams Realty) — Wed, 25 Feb 2009 08:54:35 -0800

When I talk to visiting homebuyers in my real estate practice, I find that they, like us, want to move to the southeast for many different reasons.

Yes, we do like to tease family and friends back in New England about the ice and snow when many of our plants and trees are blooming in February. And another 45-60 minutes of daylight, followed by a glowing red sunset doesn't seem like much, but it makes the occasional chilly day seem warmer. Our weather is very moderate most of the year, and on average it tends to be warmer than the Carolina's and a bit cooler than south Florida.

The men's and women's golf associations here at Osprey Cove and other local courses move their winter start times back to 9 or 10 in deference to the morning chill in our winter. At the other end of the day, I see golfers heading out as late as 4 for a quick nine holes before dinner. I seem to remember that on Cape Cod, my headlights were on at 4 and even up to mid-June I was still wearing a jacket or sweater to play golf.

I haven't had time to indulge in fishing yet, but judging by the number of boats in our community and at the boat launch in downtown St. Marys, it is just as big a sport as golf. The salt water fishing area that is easily accessible from St. Marys covers up to Jekyll Island and south to Fernandina, Amelia Island and St. Augustine, and out to the open Atlantic. Tournaments are a regular feature here, especially for Sea Bass, Redfish, Drum, Snapper and Kingfish, with big prizes. If fresh water is your preference, southeast Georgia and Northeast Florida have more streams and lakes than you have time for.

If walking and nature viewing is your preference, the coastal marshes and rivers offer a wide variety of local and visiting wildlife to photograph or just watch. I try to carry my camera with me while looking at potential real estate listings or previewing for an out-of-state buyer. Just the other day, I was returning from a new listing and wound up with an eagle dropping lower and lower ahead of my car with a heavy load. Finally, the fat old fish it had in its beak dropped to the ground and the eagle went up in a tree to let me get out of the way. I do like fish, but I prefer to buy them fresh!

St. Marys is on a major waterfowl migration path, so we see a constant change of eagles, ospreys, geese and ducks that create a constantly changing scene. Just off our coast is the winter calving ground for Atlantic whales, and boat charters go out for viewing just like we did on Cape Cod and the Boston area. Manatees, dolphins and our famous alligators are regular visitors to the rivers, parks and marshes, so the chain of life is all around us.

So little time, so many photo ops.

2711 Isles Of St. Marys Way $749,900

Lou Finnegan (Keller Williams Realty) — Sun, 15 Feb 2009 14:19:23 -0800

506 Charleston Way $572,400

Lou Finnegan (Keller Williams Realty) — Sun, 15 Feb 2009 14:12:22 -0800

1044 Greenwillow Drive $549,975

Lou Finnegan (Keller Williams Realty) — Sun, 15 Feb 2009 14:07:04 -0800

92 N. Highland Oaks Court $244,452

Lou Finnegan (Keller Williams Realty) — Sun, 15 Feb 2009 14:03:01 -0800

268 Osprey Circle $355,000

Lou Finnegan (Keller Williams Realty) — Sun, 15 Feb 2009 13:56:12 -0800

Healthcare Professionals Needed In Southeast Georgia

Lou Finnegan (Keller Williams Realty) — Thu, 12 Feb 2009 13:42:55 -0800

While industry is experiencing layoffs and closings, we are seeing significant growth in healthcare services in the St. Marys, Georgia area. Camden County, Georgia is also the home to many medical professionals practicing in Jacksonville, Florida who enjoy the easy commute and recreational lifestyle. There is something for everyone: golf, tennis, sailing, fishing, camping and shopping malls that eare day-trips.

St. Marys and neighboring Kingsland are located halfway between Jacksonville and Brunswick, GA. In fact some of our own physicians are in located in all three areas: St. Marys, Jacksonville and Brunswick. This growth is due to the expansion of group practices under the banner of Florida University-Shands Hospital and the Southeast Georgia Health System. In addition, the Mayo Clinic for this region is in Jacksonville.

Medical professionals are needed at all levels of expertise: doctors (all specialties), dentists, lab and x-ray technicians, therapists, teachers, researchers and of course, all of the administrators that are needed to support them.

Please visit my website http://louis_finnegan.georgiamls.com for more information on available housing and local community information. If I can be of any assistance, now or in the future, call or email me. Driving through on vacation? I'd be happy to give you a personal tour of the St. Marys/Kingsland area, which is just off Exits 1 and 3 on I-95 in Georgia.

Follow The Jobs To Southeast Georgia

Lou Finnegan (Keller Williams Realty) — Sun, 08 Feb 2009 09:03:10 -0800

In the midst of growing unemployment nationally, we have significant employment growth and job

transfer opportunities here in Camden County, GA. We are located on the I-95 corridor mid-way

between and 30-40 minutes from Brunswick, GA and Jacksonville, FL both busy and growing port cities,

and a great regional (JIA) airport.

Some of the new homebuyer activity I am seeing here includes employment due to:

-Port expansion in Brunswick, GA in transportation and logistics

-Expansion of the Federal Law Enforcement Training Center (FLETC),

which trains every segment of state, Federal and military police

-Expansion of the Kings Bay Naval Submarine base with Coast Guard and

Navy personnel. The USS Alaska (Trident sub) is moving here in March from

Norfolk, VA. An admiral will be dedicated to Kings Bay, highlighting its importance

-Lockheed Martin and other primary defense contractors are located here

-Expansion of the Jacksonville Port Authority (JAXPORT) to service Asian

container ships and the planned widening of the Panama Canal

-Expansion of the Mayport, FL Naval Station to homeport the nuclear aircraft

carrier, USS George H.W. Bush and it's dedicated support fleet

-A cruise ship terminal led by Carnival Cruise Lines is also proposed for Mayport

-Significant healthcare services growth, such as the Mayo Clinic, Southeast

Georgia Healthcare and University of Florida programs

-Shopping centers and mega-malls that are more like day trips

Our nice weather and ocean access brings lots of retirees, offshore sailors and boaters.

There are more fishing tournaments here than you can cast a line at. Cruising on the ICW or the

St. Marys River to Amelia, Cumberland, Jekyll or St. Simons islands isn't a hardship either. Oh, and

there's the golf. Many families formerly from the northeast and mid-west are my neighbors here in

Osprey Cove, an 18-hole gated golf and tennis community.

My website has a wide variety of area home, condo and building lot listings to view. Take a few moments

to browse it and see why more people are calling this area home. And if you're driving to or from Florida,

stop by Exit 1 or 3 in Georgia, call and let me show you around.

Creating Buyer Urgency: When Will The Train Leave The Station?

Lou Finnegan (Keller Williams Realty) — Thu, 05 Feb 2009 15:42:06 -0800

Perception is reality, someone once said. That may be why, early in this economic slump, sellers didn't believe housing values would go so low and the slump last so long. Similarly, buyers now seem to believe that there is more carnage to come and do not want to be "cheated" out of the lowest possible price before acting on a purchase that in every other way (schools, job commute, amenities, etc.) is an ideal solution for them.

Well, the housing recovery train might not have left the station, but I can hear the engine running. Several factors are apparent: The Fed is signaling that it is done with interest rate cuts and will use other financial tools to create stimulus; The Senate has approved a 10% tax credit (will any unused portion rollover?) on new or resale residence purchases for anyone, up to $15,000 limit; the banks are continuing to tighten up credit and rate reductions seem to be flattening out.

Roughly, every increase of 1% in mortgage rates robs a buyer of 10% of their purchasing power. As an example, that $200,000 mortgage loan will shrink to $180,000 if rates went from 5% to 6%. Put another way, the buyer needs another $20,000 in cash for the down payment, or other purchase credits.

High profile markets like parts of LA, Las Vegas, Miami, etc. will likely suffer longer, but is that where a local buyer should be looking for guidance on values? Clearly no, since many smaller communities have had far less price erosion and will likely be the first to benefit from any recovery. Bad news for buyers who have identified the perfect home or condo and failed to act on it. Good news for sellers who will now believe that they can play hardball on asking prices again.

I don't expect a miraculous recovery in the housing market, but in 90 - 120 days, it may get a little harder for buyers to get their dream home deal of the century.

Tick-tock, tick-tock...