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Being a REALTOR is hard work! - 06/21/08 01:46 AM
Until I became a REALTOR, I didn't realize just how hard being a REALTOR can be ---- and I don't mean physical work, either. It's grueling mentally, emotionally, and yes, physically. I've always used realtors when I bought and sold my own properties, and now that I am a realtor myself, I have a brand new appreciation for our professional men and women. When I was trying to describe a typical day in a realtor's life, I found that we have to: Keep abreast of legal developments affecting our industry nationally and on a local level. Continue taking and completing several educational seminars (7 comments)
Buyer's market doesn't mean low ball offer - 06/18/08 12:00 PM
Time and time again, some folks think that buying a foreclosure would be a breeze, and that they can submit a lowball offer. They must have seen, read, heard that they can get foreclosures for 30-50% less than list price. Remember, REO or bank owned listings are at, or nearly at the bottom price that the bank would approve. I have submitted offers on behalf of several clients who, regardless of what the list price is, automatically come up with prices significantly less than list price. Before writing the offers, I always give them a brief history of the property, how much (19 comments)
Multiple offers! Again! - 06/18/08 11:22 AM
Yesterday, I did what I haven't done in a very long time:present an offer to a seller in a formal setting, and by appointment. I was the eighth to submit an offer on a 3 bedroom/2 bath detached family home by a lagoon in Alameda. And this is a regular sale listed at $750,000. Although my beautiful island city has not suffered the same drastic fate as other cities reeling from the sub prime crisis, we have had our share of a market softening. Nonetheless, we find that there are serious buyers who are taking a very close look at our (1 comments)
Short sale listing agents: Just because you have an offer accepted by seller doesn't mean you should stop taking offers! - 06/17/08 04:12 PM
AGAIN! Gosh, why is it that some listing agents, upon acceptance by the seller of an offer on a short sale listing, they sound so discouraging when another agent calls about the listing! Today, I called an agent to get information about his short sale listing. He hemmed and hawed, and said there's already an accepted offer on the property. So I went through a list of questions, starting with whether or not the lender has accepted the offer. The answer is no. They are just now getting ready to send the offer. Because of his hesitation, I asked him if HE (6 comments)
Homeowners don't have to miss payments in order to qualify for short sale - 06/17/08 03:51 PM
I guess the answer will always be "It depends" A couple of my clients are truly struggling to keep up with their monthly mortgage payments and are finding themselves deeper and deeper in the hole (charging daily expenses to their credit cards because they want to reserve their cash to make the mortgage payment). In another case, a 62-year old retired teacher has spoken with a couple of attorneys, one of whom said he can't qualify for a short sale because he hasn't missed a mortgage payment yet. This may no longer be true. One of my favorite resources is Elizabeth Weintraub's columns, in (7 comments)
Preparing Short Sale Package Template - 06/14/08 12:40 AM
There are so many short sales today that they now consist most of my business, both at the listing and selling side. Educating clients is a priority. It is an absolute must to set expectations. Since short sale listings take a lot more energy and time than regular listings, I wanted to make sure I have a clear plan or template. I don't want to reinvent the wheel, so I put together a package of info gleaned from various resources for my listing clients. My package consists of: Q & A on avoiding foreclosures to let buyers know there are recourses available (3 comments)
Listing agent said no more offers will be entertained....until another agent from his office submitted one! - 06/04/08 07:38 PM
Have to vent. So frustrated. FEBRUARY There's a short sale listing, waterview, that came on the market back in February. Within a week, it went pending (per our MLS, if offer is accepted by the seller, they have to post it as pending within 24 hours). At the same time, the listing agent put in remarks that the seller doesn't want any more offers because they received so many. The MLS showed that the winning agent is from out-of-area (not member of our MLS). MAY While waiting for short sale approval, they held some open houses (not to sell the property, (2 comments)
Dear Seller/Dear Buyer, point and counterpoint. Article from New York Times - 06/02/08 12:54 PM
Interesting article from New York Times. Thought this would be cause for thought and amusement. http://www.nytimes.com/2008/05/31/business/yourmoney/31money.html?ex=1213070400&en=689e01eef8031ac2&ei=5070&emc=eta1 BUSINESS / YOUR MONEY | May 31, 2008 Your Money: Negotiating for a House? Start With 'Dear Seller' By RON LIEBER A sample letter that buyers who fear overpaying might send to homeowners and a reply that confident sellers could fire back. (0 comments)
Why should anyone buy in this market? - 06/02/08 02:07 AM
Hi, all. This is a question we are asked so many times that I'd really like to offer positive answers with links to articles/videos that say it is a good time. There was a great articel in a February 14 2008 issue of Time Magazine http://www.time.com/time/magazine/article/0,9171,1713483,00.html But it seems the message is being drowned by continued stories of doom and gloom. So if you have run across articles and videos that say it's a good time to buy (and not just from NAR), I would really like to have that link. Maybe we can build a list of such articles that we can post (4 comments)
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.