Real Estate in South Orange County California

Why the Tax Credit is a Good Idea and Why Congress Should Extend it.

Paul McDuell (Century 21 Superstars) — Mon, 02 Nov 2009 09:45:01 -0600

It's been said hear on AR that Tax payers will be repaying the Real Estate Tax Credit for generations. That may be true. It's also been said that it artificially manipulates the housing market and is doomed to fail!

Look, the market has been manipulated since congress allowed the mortgage interest deduction and the Real Estate Tax deduction. Should we also eliminate those? What's the difference? Other than the tax credit is going to be short lived in relation to the interest and tax deductions.

There are precious few homes on the market in South Orange County under 500K that are not short sales. I blame (credit), the tax incentive. Homes have been selling very rapidly on the low end here. I put in an offer last week and had to compete with 25 other offers!! $8000 isn't a huge incentive, but for someone thinking about buying, it may just be enough to help them make up their minds.

Is the tax stimulus artificial? Nope, buyer's really get the money.

We've rewarded many financial institutions for making bad investment decisions. Who in the world came up with the idea that it's ok to lend to a buyer that has nothing down, and oh yeah, believe whatever they claim as income (stated income). Maybe those institutions should have been punished (of course many were).

What about those that have lost their homes. We allowed many of them to be forgiven debt on Short Sales without taxing them. Should we not have done that?

We are in a real pickle here folks. Maybe we should have just let the whole thing collapse and let the cards fall where they may. That would be true capitalism, right?

The way I see it, buyers today are the good guys, they are the ones willing to purchase homes while others point the finger and complain about how things should have been done. It's the courageous home buyers today that are going to get us out of this jamb and get our economy rolling again. Personally, I feel they deserve a reward in the form of a Tax Credit, in fact, I for one think it should be MORE.

Bottom line is, we have rewarded a lot of groups that made poor decisions. Without buyers, there wouldn't be a Real Estate market. A small incentive, if nothing else, to show that our nation applauds them for being courageous, is well worth the cost.

How to get 50,000 points from a single blog post - Read it here...

Paul McDuell (Century 21 Superstars) — Tue, 27 Oct 2009 01:04:09 -0500

All you need to do, is accumulate 49,800 points or more, then just write ONE MORE Blog, and yep - you too will hit 50,000 points. Sorry, I don't know of an easier way....

Wow, I guess I have done a lot more Real Estate blogging than I thought.

Thinking back, the one thing that helped more than anything else is the fact that I type about 100 words a min. And you thought I was going to say something profound.

Thank you Active Rain community - this has (and continues to be) a great ride!!

Paul McDuell

Windows 7 for the Realtor - Is it a good move?

Paul McDuell (Century 21 Superstars) — Tue, 27 Oct 2009 00:59:29 -0500

Besides being a Realtor, I am also a Microsoft Certified System Engineer.

Early this year I installed Windows 7 - I am one of Microsoft's Beta testers.

I have to say, that I really like Windows 7, but there WERE some challanges for me.

Mainly, some of my peripheral hardware was not supported with the 64 bit version of Windows 7

My high speed Fujitsu scanner was one, and my color laser printer was another.

Not being able to use those two devices alone would have kept me from moving to Windows 7.

If you hardware is new, purchase within the last year or so, you should be fine.

Note that there is an and on called Virtual XP that will allow you to run XP at the same time you are running Windows 7, so if you have unsupported hardware, you can run it under XP - but wait, you also have to have a computer whose motherboard and CPU supports Intels virtual mode. Mine is pretty new, and it does not.

The absolute most important things that had to be supported were Winforms (online contracts), and Docusign (online e-signatures).

I'm please to say that both of those applications work great.

Should YOU move to Windows 7 -

If you are due for a new PC - then for sure get Windows 7

If you want to keep your existing PC - but it's been a couple of years since you installed an Operating System, then you are probably due. Might as well upgrade to Windows 7.

If your are running the 32bit version of Vista, you can do a UPGRADE to Windows 7 without having to reinstall all of your applications. Same goes for the 64 Bit versions.

You CANNOT upgrade from the 32bit version of Vista to the 64bit version of Windows 7, I know, because that was my situation.

Finally, I just want to add that I was not able to install the final released version of Windows 7 on my machine, it would NOT install, and I am NO novice. What I had to do was install the 64bit version of Vista first and then UPGRADE that to Windows 7. What a pain, but I have a unique system with lots of hard drives and a RAID system. You probably would not have that issue.

OK- test questions - do yo know why they called it Windows 7????

Because that's what it is....

Windows 3,

windows 95,

Windows 98

Windows Millinium

Windows XP

Windows Vista

and Finally, Windows number 7!

Actually, there many other versions too - Windows 2, Even Windows 1, released in 1983 (I used it).

Plus lots of other versions, but those above were the widely accepted versions.

Let me know if you make the plunge to Windows 7

Paul McDuell

Halloween - my wife's Birthday - always makes it extra fun....

Paul McDuell (Century 21 Superstars) — Tue, 27 Oct 2009 00:33:24 -0500

My wife loves to decorate for the holidays - especially Halloween.

She likes to dress up (usually as a witch).

This year we'll be handing out treats to the trick or treaters coming to our door.

My costume is simple - one of 3 latex masks - Weir wolf, Gorilla, or scary old man (heck, I don't even need a mask for the last one - LOL

The problem I have is my masks scare the kids - sometimes too much. So I put it one for an hour, then just enjoy handing out the treats.

What will YOU be doing on Halloween?

Better way to market your short sales

Paul McDuell (Century 21 Superstars) — Tue, 27 Oct 2009 00:24:36 -0500

We had a new short sale come on the market. The clever listing agent only allows showing for one weekend. He publishes the dates and time in the MLS, and clearly states that if you are interesed, you must view it then. All offers were due by 5:00PM Monday.

He was asking for Highest and Best offers.

Why is this a good idea.

The seller isn't bothered with having to show the property, it's only shown Sat and Sun.

The agent only has to hold one open house, well technically 2.

The open house creates a lot of traffic, getting those interested, enticed to make a more substaincial offer.

The listing agent also states in the MLS that the "seller" will make a decision by Thursday. Ok, so the seller making a decision doesn't really help that much, but if it helps a potential buyer make a decision, then it's a good move.

Some banks will only consider one offer at a time. Getting the Highest and best offers, then submitting THE absolute highest and best offer to the bank should greatly increase the odds of getting a short sale approved.

He has made a believer out of me. I'll handle my next short sale listing this way.

Oh - how many offers did he get? 18!!!!

Now, please cross your fingers for me and my client, because we were on of those 18 making an offer.

Paul McDuell - looking for comments.

200th Blog Post in Rancho Santa Margarita

Paul McDuell (Century 21 Superstars) — Sun, 18 Oct 2009 11:42:22 -0500

Nothing to see here folks - Just noticed that I had 199 blog posts, and figured I would make it an even 200.

Interest in Rancho Santa Margarita Real Estate continues to increase. Foot traffic at open houses is the best I have seen in years.

Some have said it because the tax incentive is coming to an end, but I don't think that fully explains it. There are too many investors paying cash, and certainly most of those are not first time buyers.

Rancho Santa Margarita Home Sales - Prices Improve

Paul McDuell (Century 21 Superstars) — Sun, 18 Oct 2009 11:37:12 -0500

Have we reached the bottom?

Have prices started to climb?

I did a quick comparison of sold condos for 3 different time frames in Rancho Santa Margarita. I looked at condos from 900 to 1200 square feet. I pulled sales data from the three following time frames:

12/1/2008 through 1/31/2009

1/1/2009 through 3/1/2009

9/1/2009 through 10/18/2009

Anyone who is working in this market can attest to how it's changed over the last 9 months. We have gone from a lot of bank owned properties, to almost none.

We are seeing HUGE demand in this sector with several offers on every condo that is reasonably priced, and is not a short sale.

We are seeing several ALL cash offers.

We are witnessing FHA, first time buyers being forced to the sidelines as investors swoop in and grab these homes at bargain prices.

In the first time frame above, the Median selling price per square foot was $256.34. That dropped to $252.30 for the second time frame. Prices have since risen to $254.29.

While the price increase seems insignificant, extrapolated over a 12 month period equates to a 1.5% increase - which in my opinion equals healthy growth.

How Much Does Your Buyer Want to Offer On That Short Sale Listing?

Paul McDuell (Century 21 Superstars) — Wed, 23 Sep 2009 13:56:02 -0500

I try really hard to avoid Short Sales.

It's not because they are so much work.

It's because my buyer's get their hopes up (even after I have done my best to educate them on the perils of short sales), just to be crushed when they don't get the home.

If my clients insist on going after short sales, here is my advice.

Figure out what the place is REALLY worth. Offer 10 to 15% below it's value.

Get the offer in VERY early - within hours of it hitting the MLS.

Make sure the buyer is prepared to pay something to the holder of the second.

If the buyer does offer something to the holder of the Second, do it through Escrow.

Anything else is probably not legal.

Paul

Short Sale Listing in Mission Viejo - I have 3 offers - but not accepted yet....

Paul McDuell (Century 21 Superstars) — Mon, 21 Sep 2009 14:41:55 -0500

Paul McDuell | Century 21 Superstars | (949) 842-9531

27556 Costanero, Mission Viejo, CA

Comes with a Detached 1 car garage AND an assigned, covered, Parking Space.

2BR/2BA Condo

offered at $275,000

Year Built	1980
Sq Footage	1,327
Bedrooms	2
Bathrooms	2 full, 0 partial
Floors	2
Parking	1 Car garage
Lot Size	Unspecified
HOA/Maint	$386 per month

DESCRIPTION

LOFT!!! This is a GREAT floor plan, you must see it to appreciate. VERY close to Mission Viejo Lake. Beautiful Community with lots of open space.

see additional photos below

PROPERTY FEATURES

- Central A/C	- Central heat	- Fireplace
- High/Vaulted ceiling	- Walk-in closet	- Hardwood floor
- Tile floor	- Family room	- Living room
- Bonus/Rec room	- Office/Den	- Dining room
- Breakfast nook	- Dishwasher	- Microwave
- Laundry area - inside	- Balcony, Deck, or Patio

COMMUNITY FEATURES

- Guest parking

- Swimming pool(s)

OTHER SPECIAL FEATURES

- Putting/Pitching Golf Green

ADDITIONAL PHOTOS

Photo 1	Photo 2
Photo 3	Photo 4
Photo 5	Photo 6

Contact info:

Paul McDuell

Century 21 Superstars

(949) 842-9531

For sale by agent/broker

Equal Opportunity Housing

Posted: Sep 21, 2009, 11:35am PDT

I am sick and tired of this Southern California Weather

Paul McDuell (Century 21 Superstars) — Mon, 21 Sep 2009 14:38:37 -0500

Here we go again:

Blue skies

Sunny

Warm

Low Humidity

No Rain in the forcast

ALL YEAR LONG!!!

(shhhhh - keep it a secret)

By the way - how is your weather?

What Price Level are the RSM Homes selling at?

Paul McDuell (Century 21 Superstars) — Mon, 21 Sep 2009 14:25:05 -0500

Stats are from the 1st. of the year - 09 through today 9/21/09 in Rancho Santa Margarita, Closed Sales.

Of 557 sales - below is the break down by price....

0 to 100K (those were the days) 2 sales

100 - 200K - 46 sales

200 - 300K - 109 sales

300 - 400K - 107 sales

400 - 500K - 132 sales (the sweet spot)

500 - 600K - 66 sales

600 - 700K - 53 sales

700 - 800K - 27 sales

800 - 900K - 10 sales

900 - 1M - 4 Sales

Over 1M - 1 sale.....

What's yours worth? Call me...

Short Sales - Mostly at the lower end of the Market in So Cal. RSM

Paul McDuell (Century 21 Superstars) — Mon, 21 Sep 2009 14:10:41 -0500

It seems like ALL of the listings in Rancho Santa Margarita are short sales, when in reality only about 1/2 are. 74 short sales vs 79 Non- Short Sales.

BUT - if you look at listings up to 250K (one bedroom, and maybe two bedroom condos), the story is completely different.

$250K max- 19 Short sales vs. 3 Non- Short Sales

$251K to $500K - 29 Short sales vs 24 Non- Short Sales

501K to 750K - 19 Short sales vs 31 Non- Short sales

$751K to $1M - 7 Short sales vs 18 Non- Short Sales

Over $1M - ZERO short sales, 4 Non- Short Sales

Next Blog - What price point are most of the sales taking place?

Short Sales vs Non-Short Sales in Rancho Santa Margarita - Surprise!

Paul McDuell (Century 21 Superstars) — Mon, 21 Sep 2009 14:02:10 -0500

So - What percentage of homes that were listed as short sales actually end up selling as short sales?

In my very un-scientific study, I found that about 60% sell.

That was very suprising as I thought only about 20% would have sold based on what I have been told by others.

It's kind of tough to figure out, but here is what I did - I looked up the number of homes that sold as short sales that were listed on of after 9/21/08 in RSM (537). Then, I looked up the number of homes that were Active, Expired, Cancelled, or Withdrawn (364). A total of 901 homes. That works out to 60% sold.

This fails to take several things into consideration, including but not limited to, Pending Sales, Listings on Hold, Backup status - but does lead me to believe that there are a LOT more Short Sale listings selling than we have been led to believe.

What about those short sale listings????? See my blog on the number of short sale listings vs non-short sales listings in various price points - That may surprise you too!

Real Estate Sales Are Really Picking Up

Paul McDuell (Century 21 Superstars) — Thu, 20 Aug 2009 13:22:58 -0500

Besides selling Real Estate, I also do a lot of BPOs (broker Price Opinions).

There are always 6 requirements for doing BPOs, 3 Active Listings and 3 closed sales that are in close proximity and similar description to the subject property. The closed sales need to be within 6 months, preferably 3 months.

I bring this up, because lately there haven't been enough ACTIVE listings available to do my BPOs.

The companies I do the BPOs for recognize this and are allowing us to use Pending Sales and Backup Status Listings in lieu of Active Listings.

A sign of the times, and hopefully, a sign that things are getting better.

Paul

Sold in Mission Viejo

Paul McDuell (Century 21 Superstars) — Thu, 20 Aug 2009 13:17:07 -0500

Another Sale in Mission Viejo!

Paul McDuell | Century 21 Superstars | (949) 842-9531

26969 Orchid, Rancho Santa Margarita, CA

3BR/2.5BA Condo

offered at $355,000

Year Built	1989
Sq Footage	1,200
Bedrooms	3
Bathrooms	2 full, 1 partial
Floors	2
Parking	2 Car garage
Lot Size	Unspecified
HOA/Maint	$215 per month

DESCRIPTION

This one is already sold - But I have others!

see additional photos below

PROPERTY FEATURES

- Central A/C	- Central heat	- Fireplace
- High/Vaulted ceiling	- Walk-in closet	- Hardwood floor
- Family room	- Living room	- Breakfast nook
- Stove/Oven	- Microwave

COMMUNITY FEATURES

- Swimming pool(s)

- Sauna/Spa

ADDITIONAL PHOTOS

Photo 1	Photo 2
Photo 3	Photo 4
Photo 5	Photo 6

Contact info:

Paul McDuell

Century 21 Superstars

(949) 842-9531

For sale by agent/broker

Equal Opportunity Housing

Posted: Aug 20, 2009, 10:06am PDT

JUST LISTED IN MISSION VIEJO

Paul McDuell (Century 21 Superstars) — Thu, 20 Aug 2009 12:36:59 -0500

New Listing in Mission Viejo!

Paul McDuell | Century 21 Superstars | (949) 842-9531

27556 Costanero, Mission Viejo, CA

Comes with a Detached 1 car garage AND an assigned, covered, Parking Space.

2BR/2BA Condo

offered at $275,000

Year Built	1980
Sq Footage	1,327
Bedrooms	2
Bathrooms	2 full, 0 partial
Floors	2
Parking	1 Car garage
Lot Size	Unspecified
HOA/Maint	$386 per month

DESCRIPTION

LOFT!!! This is a GREAT floor plan, you must see it to appreciate. VERY close to Mission Viejo Lake. Beautiful Community with lots of open space.

see additional photos below

PROPERTY FEATURES

- Central A/C	- Central heat	- Fireplace
- High/Vaulted ceiling	- Walk-in closet	- Hardwood floor
- Tile floor	- Family room	- Living room
- Bonus/Rec room	- Office/Den	- Dining room
- Breakfast nook	- Dishwasher	- Microwave
- Laundry area - inside	- Balcony, Deck, or Patio

COMMUNITY FEATURES

- Guest parking

- Swimming pool(s)

OTHER SPECIAL FEATURES

- Putting/Pitching Golf Green

ADDITIONAL PHOTOS

Photo 1	Photo 2
Photo 3	Photo 4
Photo 5	Photo 6

Contact info:

Paul McDuell

Century 21 Superstars

(949) 842-9531

For sale by agent/broker

Equal Opportunity Housing

Posted: Aug 20, 2009, 9:29am PDT

Sold in Mission Viejo

Paul McDuell (Century 21 Superstars) — Thu, 20 Aug 2009 12:17:29 -0500

Another Successful Sale in Mission Viejo

Paul McDuell | Century 21 Superstars | (949) 842-9531

27546 Berdun, Mission Viejo, CA

NOT A Short Sale, BUT Priced Like One. Properties Like This Rarely Come On The Market. Located on a Cul-de-Sac With a Gorgeous View of Saddleback From

4BR/2.5BA Single Family House

offered at $616,800

Year Built	1978
Sq Footage	2,481
Bedrooms	4
Bathrooms	2 full, 1 partial
Floors	2
Parking	2 Car garage
Lot Size	5,700 sqft
HOA/Maint	$84 per month

DESCRIPTION

This is a wonderful home, in the one of the best locations in Mission Viejo. The front yard has a view of Saddleback, the back Yard is right above a nice park. The floor plan is very nice as is the neighboorhood. Big Kitchen with Panoramic View of Back Yard and park.

see additional photos below

PROPERTY FEATURES

- Central A/C	- Central heat	- Fireplace
- High/Vaulted ceiling	- Tile floor	- Family room
- Living room	- Breakfast nook	- Dishwasher
- Stove/Oven	- Laundry area - inside	- Yard

COMMUNITY FEATURES

- Lake

- Playground

OTHER SPECIAL FEATURES

- Access to Mission Viejo Lake, Swim,Boat,Fish,Picnic

ADDITIONAL PHOTOS

VIEWS - PRICE - EQUITY	Your Backyard View!
Check the View from Kit!	Pretty home
Concrete Pavers	You Gotta See This HOME!

Contact info:

Paul McDuell

Century 21 Superstars

(949) 842-9531

For sale by agent/broker

Equal Opportunity Housing

Posted: Mar 20, 2009, 3:46pm PDT

Just Sold - Rancho Santa Margarita

Paul McDuell (Century 21 Superstars) — Thu, 20 Aug 2009 12:15:13 -0500

Sold Another Home in Rancho Santa Margarita

Paul McDuell | Century 21 Superstars | (949) 842-9531

27 Arboleda, Rancho Santa Margarita, CA

One of the Most Coveted Tracts in Melinda Heights. Properties Rarely Come on the Market Here, and it’s no Wonder Why. It’s a Great Place to Call H

3BR/2.5BA Single Family House

offered at $467,000

Year Built	1997
Sq Footage	1,451
Bedrooms	3
Bathrooms	2 full, 1 partial
Floors	2
Parking	2 Car garage
Lot Size	4,038 sqft
HOA/Maint	$112 per month

DESCRIPTION

One of the Most Coveted Tracts in Melinda Heights. Properties Rarely Come on the Market Here, and it’s no Wonder Why. It’s a Great Place to Call Home and Raise a Family. THIS Home in Particular, Has an Incredible Trabuco Canyon Natural Wildlife Area Directly Behind Your Backyard. (View and Serenity Included).

see additional photos below

PROPERTY FEATURES

- Central A/C	- Central heat	- Fireplace
- High/Vaulted ceiling	- Walk-in closet	- Hardwood floor
- Tile floor	- Family room	- Living room
- Dishwasher	- Microwave	- Stainless steel appliances
- Laundry area - inside

ADDITIONAL PHOTOS

Photo 1	Wonderful Master Bedroom
Photo 3	Photo 4
Photo 5	Photo 6

Contact info:

Paul McDuell

Century 21 Superstars

(949) 842-9531

For sale by agent/broker

Equal Opportunity Housing

Posted: Mar 9, 2009, 12:07am PDT

Moving Email to your new computer

Paul McDuell (Century 21 Superstars) — Sat, 08 Aug 2009 10:36:50 -0500

I'm an e-Pro and a Microsoft Certified System Engineer. Someone on the e-Pro forum ask how to move an email system from an old computer to a new computer using Outlook.

I typed up the steps I use, and thought, hey, others might be able to use this. So, the following are the (not so basic) steps I use.

I do this for my computer clients often, here is my formula. I'm not going to tell you specifically how to do every step because it's a little different depending on what kind of OS you have and which version of Outlook you've got.

•1. On your new computer.

•2. Install Outlook on your new computer.

•3. Setup your email accounts - email addresses, pop3 and smtp, go into advanced and set whether you want to save a copy of your email on the server.

•4. Get all of your NEW mail (send / receive)

•5. Send at least one email on your new system (this creates an nk2 file)

•6. Go to your old computer making sure Outlook is not running.

•a. Locate your most recent PST file. The default name is Outlook.pst (check the date).

•b. Google is your friend - Use search terms like "Outlook 03 xp outlook location of pst" to aid in finding the location of your pst.

•c. Make a copy of the PST file. Best to copy it to a thumb drive.

•d. Also find your .nk2 file and copy it (again, use Google to find the location). The nk2 file holds your auto complete information.

• i. An example of auto complete is when you start to type the name of a recipient in an email, and you get a list of previous email addresses that you can chose from - that's auto complete.

•7. Note that all of your old email along with your existing contacts, is contained in the pst file.

•8. I used to just copy the old pst file to the new computer, but that is not the best way to do it. Rather, you want to import the pst file. When you import it, it accomplishes a couple of things.

•a. Since you have already received your lasted email (some of which may also be contained in your pst file already), when you import your pst file, you have the option of NOT importing duplicates. Be sure to set that, so that you don't get two copies of any emails.

•b. Another reason for importing is that email systems are kinda of dumb in the following way. If you receive an email, your mail system knows you have received it, and it won't send you that email again. BUT, if you had just copied your pst file to the new computer, yes, you would have all of your old email, BUT, your mail system wouldn't know you had it and it would send any email from your mail server to your computer again. Some of that mail you may already have, so you would get duplicates. If this doesn't make sense, just take my word for it. I have done it both ways many times.

•9. To import the pst, you will use Outlook's own tools. Back to Google, use search terms like, "how to import pst Outlook 07" Remember to NOT import duplicates. You will need to have your thumb drive with you old pst file in your new computer.

•10. Last step is to copy the nk2 file. Make sure Outlook is off. Use Google again to help you locate the nk2 file on the new computer. Copy the old nk2 file over the one on the new computer.

Here are the steps again in short hand.

•1. Install Outlook on new computer

•2. Set up mail accounts

•3. Do a send receive

•4. Send at least one email to create nk2 file

•5. Copy old pst and nk2 file from old computer

•6. Import old pst to new Outlook

•7. Copy Nk2 over the nk2 file on the new computer.

If this is beyond your capabilities, get some help.

Best of luck

Paul McDuell

Be Careful, Be Smart with your Online Purchases

Paul McDuell (Century 21 Superstars) — Tue, 23 Jun 2009 00:24:11 -0500

I got a call from Paypal today. Seems there was some suspicious activity on my account. At first I thought the phone call was suspicious. Turns out the call was legitimate, and there were two charges made to my Paypal account that I had not made! Paypal is going to take care of the charges, and I have put a stronger password in place. I know better and should have had a strong password in place all along.

If you have a weak password on any of your on-line payment systems, it's time to think about making it more secure. With the economy what it is, there are a lot more desperate people preying on those of us that are vulnerable.

Be safe out there,

Paul

Community Garage Sale This Weekend in Rancho Santa Margarita

Paul McDuell (Century 21 Superstars) — Thu, 11 Jun 2009 13:52:02 -0500

This Saturday I have the privilege of hosting my neiborhood's annual Community Garage Sale.

It's a LOT of work, and it's not particularly cheap, but I enjoy helping my community and the PR can't hurt my business.

The sale will be Saturday June 13Th. from 7:00AM to 2:00PM

If you are local and interested in coming to the sale, follow the signs in Rancho Santa Margarita located at the corner of Santa Margaria Parkway and Antonio Parkway.

This is a small community of large detached homes, we expect to have at least 15 to 20 homes participating.

Hope to see you there!

No Answer On Bank Owned Offer - No Communication, No Excuse!

Paul McDuell (Century 21 Superstars) — Sat, 30 May 2009 22:14:02 -0500

So, your client wants you to put in an offer on a bank owned property. You call the agent to find out if there is anything special you need to submit. You call and email the agent to see if there are offers, or if it's even still available. You hear nothing back. No communication at all. So, you figure, hey, the MLS says it's available, might as well take a chance, after all, money talks and, well, you know the rest. You still don't hear anything, but you assume the agent must be busy, it was a great price. You call a few times, email a few times, still nothing.

Then, you get a call from the LENDER's

subordinate, telling you they aren't taking any additional offers. You ask if your offer was submitted, but they have no idea.

Still, there is nothing heard from the listing agent.

You notice that the listing status changes from Active to Hold. You wonder why, still no communication.

Finally, after a week and a 1/2, you figure your offer wasn't accepted. So, you put in an offer on another property for your client, still, you haven't heard anything on the bank owned offer. You know your offer has expired by now, but you worry, "what if the bank accepts it?" So, you look up the listing one final time and see that it is now a pending sale.

I'm sorry folks, I personally don't care HOW many offers you have received. There is NO excuse for not replying to each and every inquiry. There is CERTAINLY no excuse for not replying to another agent who put in an offer on your listing. How long would it take to cut and paste every email address you received from agents that have sent you an offer, and blast out a single reply to ALL of them. Something like, "Thank you for your interest/offer on my 123 Main st. listing. An offer has been accepted, and if you are getting this email, then the offer wasn't yours. Thank so much blah, blah, blah, and I hope to some day do business with you on another transaction. WOW, is it really that tough?

Does it sould like I am venting a little? I know none of YOU would consider being so rude. I guess the listing agent didn't want to waste her time replying to offers that were not going to do her any good. But what about all of the agents that took the time to write offers on the property, then the clients waiting to see if THEY were the Lucky ones.

I pledege to all of my clients and fellow Realtors, both present and future, I will never be so busy that I will not take the time to at least send you a one sentence reply to any serious inquiry or offer.

There is just NO excuse. We are not talking about poor communication, I am talking about NO communication.

Ok, I feel better now.

next.....

Paul

Low End of the Market is on FIRE here, how is it where YOU are?

Paul McDuell (Century 21 Superstars) — Sat, 30 May 2009 19:46:12 -0500

Not sure how the market is in YOUR region, but here in South Orange County (Ca), the low end of the market ($150K to $400K) is on fire. I have presented several good offers recently, $90K down, over list price, with a well qualified buyer, conventional financing, only to be beaten out by offers over list price for CASH!

Where is all the cash coming from?

Is it the same in your market?

Paul McDuell

Survey - Electronic Signatures - Does Your Office Accept Them?

Paul McDuell (Century 21 Superstars) — Sat, 30 May 2009 19:41:32 -0500

I am a techie'- I love my electronics, and I am a computer expert.

I also really like anything that makes my life as a Realtor more efficient.

When I learned about Docusign (the online electronic signature program our board approves of), and how easy and convenient it is to use, I adopted it right away.

The problem is, that our broker does not accept Docusign signatures. We are allowed to obtain Docusign signatures if our clients are out of the area, but before we close escrow, we must get "wet" signatures where ever there was a previous Docusign signature.

I'd like to know if your broker allows their agents to use Docusign or the regional equivalent?

If you already know what electronic signatures are, skip the next part. If you don't, read on.

In Southern California, we use online contracts though Winforms (aka - Zip Forms). When using the online contracts, when it's time to print them out, we have the option (if we subscribe to Docusign) of "printing" (sending them) to the Docusign website. Once we log in to the Docusign website, our contracts are there, in perfect condition, there is no "fax" like degradation. We draft an email for our client, then add the client's email address, then click and drag signature, date, and initial fields to the appropriate locations on the contracts. It's VERY simple.

Once done, we click on send. The client gets an email with a unique link that takes them to ONLY these documents on the Docusign website. If the client has never signed up with Docusign, then they do a quick sign up and log in. Once logged in, the client reviews the contract and simply clicks on the fields that we have placed for them. For sections like arbitration, the initials are optional.

Once they have finished "signing" we get an email saying the documents are complete.

So, how is this better than faxing, e-faxing, or Mongofaxing? Well, there is no need to print the document out and no need to rescan or fax it. No need for a fax machine. The only thing the client needs is an email address and a computer with access to the internet.

In our broker's defense, they say that one reason they don't accept Docusign signatures is because we, the agents, are not with the clients while they sign, so we may not have gone over the contract first. Yet, they are OK with Fax signatures. I guess the fax signatures are different in that they are an actual copy of the clients signature, where the Docusign signature is a script font text printing of their name. Not a real signature at all.

So, does YOUR broker allow electronic signatures or not?

Anxious to hear from you.

Paul McDuell

FHA POINTS - an old story

Paul McDuell (Century 21 Superstars) — Fri, 24 Apr 2009 01:56:03 -0500

Years ago, I was representing a seller on the sale of her home. It was customary, even required if I remember right, that on FHA loans, the seller had to pay the points. On this particular sale, mortgage rates were going up VERY fast. We are talking about the mid 1980's. The points on the buyer's loan started out at 1%, then went to 2%, then 3% finally ending up at 4 1/2%!!! POINTS!!!

There were very few buyers then and my seller really wanted the house sold, so she agreed to pay the points.

The one thing that I've never forget was when the seller asking me how much of the 4 1/2% was I getting?

Wow - that took me by surprise. I didn't know if she was kidding or honestly thought I might be getting a percentage of those points.

I felt terrible, here my client was having to pay much more in points than I had prepared her for in the initial net sheet, and then she thought I was part of the reason.

The deal was over, and it really didn't matter what I told her at that point, She would never know for certain that I wasn't getting any of her proceeds.

The moral of the story is, perpare you clients for the unexpected but possible fees. Things a differnent today, costs are more under control, but there can still be BIG surprises.

Be honest, and set realistic expectations.

You will be a hero in the end.