Randy Poll's Blog

Low Ball offers on Phoenix Short Sales

Randy Poll (Greenridge Realty Inc.) — Wed, 10 Oct 2012 07:49:55 -0700

Here is a great post from Anna "Banana" Kruchten about low-ball short sale offers. I have done a lot of short sales over the past 5 or 6 years and before, and find a lot of the same things going on in our area. Buyers need to understand the process, and know who to trust, when seeking advice on these transactions.

Thanks Anna "Banana"

Via Anna 'Banana' Kruchten - Phoenix Real Estate Broker,CRS 602-380-4886 (Phoenix Property Shoppe):

Low Ball offers on Phoenix Short Sales

Ok folks listen up, please stop calling agents and telling them you've as good as gold, have cash, can close in two weeks etc etc etc on short sales. Just stop! Short sales don't work this way - they really don't. Some short sales can take 60 days others could drag out for a year. Really. I'm not joking. As for you having cash, well that's fine but the bank is not going to take an offer for 50% less of what they think they should realize just for you - especially if the home has been on the market for a week or two. It's just not reality. Now if it's been months and months or longer you might have a chance - might. But it's doubtful - just saying.

Yesterday I got yet another call just like this and we had a real hard conversation that he didn't want to hear. The guy suggested to me - hey I'm your guy who can close deals, fast and with cash so call me. No, I'm not going to call you back unless - UNLESS I knew the bank would even consider such a low offer. I know pretty much what a bank will take on a short sale in our hot Phoenix market and it's not 50% off. And BTW I've got two other agents that will be writing on this very property you called on and they know what needs to happen in our short sale market.

I am sure this guy doesn't know how short sales really work. It was if he was reading off a script from some short sale investor seminar he had taken recently. Is somebody teaching these folks how to buy short sales? No. In the past when ever we'd get the 'zero down' calls we knew for sure another seminar promoter had been in town. Since I don't read the paper I don't know who's advertising again. Somebody is making money on short sales and it's not the attendees but rather the promoters. Folks this is the oldest trick in the book.

If you are new to buying short sales the best move you could make is to call a broker or agent that understands how short sales really work and make an appointment. Listen to what she/he tells you -carefully - if you want to be a succesful short sale bidder. The agent has most likely been working on short sales for the last 4 or 5 years and knows what they're doing. Really they do. Save everybody some time and learn the short sale ropes in your area before making 'pie in the sky' verbal offers and proclamations of how you're good as gold. If you do you just might be the successful bidder on a short sale that would make an excellent investment. Now make that call to a good short sale agent and win the bid on that short sale.

Low Ball offers on Phoenix Short Sales

*******************************************************

Real Estate and Working with my Clients is my Passion!



I take my clients trust in me very seriously. I'm known for 'telling' it like it is, not what folks might want to hear or think it should look like. Now that may sound kind of tough, but think about it, in the long run if you want to buy or sell a home you need to know the real facts in order to make a wise choice.

If you want the truth and the whole truth, I am the Phoenix Real Estate Broker for You.



When you are ready to buy or sell a Phoenix Area Home, I will be your advocate, guide, and fierce negotiator. I will work hard to make your buying or selling a home as smooth and stress-free as I possibly can - even if it's a short sale. Guaranteed.

Call me and we'll create a plan of action to buy a home or sell your home!

Sincerely,



Anna 'Banana' Kruchten

Broker/Owner CRB, CRS, CDPE, GRI SFR

602-380-4886

Search the MLS -Phoenix Metro Area

Search for a Brand New Home in Phoenix

Would You Be Sad If This Home Was Gone When You Make Up Your Mind?

Randy Poll (Greenridge Realty Inc.) — Fri, 14 Jan 2011 08:36:14 -0800

Here's a great little post by Karen Fiddler. "Would you be sad if this home was gone when you make up your mind?" I've seen this happen time and time again (recently as a matter of fact) and even with trusted friends who already know, like and trust me. Sometimes they still want to "Think about it" they have what I like to call..."Paralysis of Analysis." and in most cases it either costs them thousands of dollars, or the chance to purchase the right home for them at a great price. For those buyers, especially in the foreclosure market, the competition for the truly great deals is so fierce, failure to act immediately is probably the #1 mistake they make. My recommendation to you is to find a trust-worthy Realtor®, rely on their wise counsel and don't second guess yourself, and above all...ACT!

(Thanks Karen for a great topic)

Via Karen Fiddler Broker/Realtor (The Fiddler Realty Team/eVantage Real Estate):

It's hard.....the last thing any buyer wants to do is find out that the "right" home is the very first one they see. It causes so much doubt,

"well, this is the first one we've looked at, what if there is something better"?

What if there isn't? What if this is the perfect home for you and you miss it? I've seen it happen. I can usually tell from my buyers when they spot "the" house for them. There is a look and visible emotion evident. But it's hard when it's the first home.....and I need to try and explain to brand new clients that they should write up the offer.

I feel pushy!
I feel like I'm rushing them!
I feel like ....well.....a salesman!

I hate that! I haven't had time to build rapport....to assure them that I care about which home they buy. That I want them to have the perfect home for them......unfortunately it seems that it's the first home they walked into. Just trust me?

This happened yesterday! Brand new buyers....although I've been talking with them for a couple of months while they worked with a lender on financing. We saw 3 homes and the very first one they really loved. It was what they wanted.....so now what? Write an offer! It's a short sale, we have lots of time to change our minds, but limited time to get an offer in. The agent is going to pick one and work only one. I can already tell you that they are going to miss their opportunity.....we needed to get the offer in last night. No word from the clients and I'm leaving shortly.

We talked quite a bit yesterday about short sales and timing and options. And I left them with the one question I like to tell all my buyers:

"Would you be sad if this home was gone when you make up your mind?"

If so.....let's write the offer, if not...then let's move on!

Karen Fiddler
Broker/Associate
The Fiddler Realty Team/eVantage Real Estate
Lic # 01494165

www.searchfororangecounty.com

Serving all of Orange County, California Real Estate!
Buyer's Agents, Listing Agents, Short Sales, REOs, Equity Sales, Investors

SEARCH THE MLS HERE

Short Sales – Why Does the Lien Holder Ask for Lots of Items?

Randy Poll (Greenridge Realty Inc.) — Tue, 28 Dec 2010 14:27:27 -0800

Melissa hit's the nail right on the head here. In a short sale situation, the banks are not obligated to do anything, so if you want to have a chance to get the transaction closed, you need to complete everything they ask for, regardless of how unimportant you may think it is, if the bank requires it, that's just the way it is. Cooperation from the seller is the number one piece to the puzzle and the best part, it's the one piece the listing side has control over. Great post Mellisa!

Via Melissa Zavala Realtor® North San Diego County Homes (Broadpoint Properties):

I recently had a short sale seller who asked me why the bank requests so much stuff. This seller wanted to know why he had to submit tax returns, bank statements, and pay stubs in order to participate in a short sale transaction.

First off, I think it is always important to keep in mind that all short sales are subject to lender approval. The bank is NOT required to allow a seller to participate in a short sale—just because.

As part of the short sale package that the bank requires in order to review a borrower for a short sale, most lenders require pay stubs, bank statements, and tax returns. Why? Well, the bank wants to confirm that there is a verifiable hardship, which puts the seller in a situation where s/he cannot afford the property any longer.

Banks often also run the short sale seller’s credit report, so the bank employees will know if the borrower is current on all other debts.

I’ve seen short sale sellers who state that they do not have a bank account. Then, they provide a copy of their paystubs, which are direct-deposited into a bank account. Don’t try to “pull the wool” over the mortgage lender’s eyes. Between running the credit, checking the pay stubs, and reviewing the tax return, the lender will know whether the short sale seller has a verifiable hardship that will qualify the seller to participate in a short sale transaction.

What’s the best way to get the short sale approved quickly? Cooperation. Providing accurate documentation in a timely manner will assure that the short sale gets approved as quickly and efficiently as possible.

Photo: flickr creative commons by LollyKnit

Broker, Realtor®
DRE #01324959
Broadpoint Properties, Inc
San Diego County Short Sale Specialists
Short Sale Expeditor®

If you enjoyed this post, why not connect with me in these other communities?

Not a REALTOR®? Never been a REALTOR®? You Won't Understand!

Randy Poll (Greenridge Realty Inc.) — Mon, 06 Dec 2010 14:29:15 -0800

Here is a great post from Kathleen Elim explaining some misconceptions about Realtors® compensation and how these costs are rarely discussed or understood by the general public. This weekend, here in Michigan, the gas pumps hit $3.05 a gallon, which is the first item on her list. Up here in the north country, where doing business in the winter, especially if you specialize in recreational property as I do, is pretty tough to do without 4WD and my Dodge Ram only gets about 14 miles per gallon, and guess who has to keep feeding this bad boy? That's right...me, there is no corporate charge card, no sugar daddy, just me. Many in our profession also have no health insurance, it is a very big problem for the self employed in this country and especially hard hit are Realtors®. Many find themselves having to choose between car payments and car insurance...or health insurance, and the choice is obvious...no car, no work, no work...no money...you get the idea.

My point, like Kathleen's is not to complain, but just to make note that this is a very expensive business and getting more expensive all the time, and it's good to see some of these issues brought to light, as we often just "grin and bare it" and don't mention it to anyone. Thanks Kathleen!

Randy Poll ~ Greenridge Realty Inc.

Realtor®. SRES, ABR, SFR, AHWD

231-924-8668 www.randypoll.com

Via Kathleen "Kate" Elim LAKE ANNA, VA Real Estate (DOCKSIDE REALTY):

Not a REALTOR®? Never been a REALTOR®? You won't understand! That's right, unless you are currently working as a REALTOR® or have been one in a prior life it is very possible that you will not understand the difference in the gross compensation and the net compensation received by those of us working as REALTORS®.

You know about one number...what we supposedly earn from a transaction where we represent one or both parties. It sounds exorbitant to some, perfectly acceptable to others.

What many do not learn about (and this goes for those that are thinking of becoming real estate agents because they think we make so much money) is the expense side of the equation.

Expenses??? Yes, indeed. Gas is merely one. No matter whether the price is $1.50 a gallon or $4.50 a gallon, when you have buyers in the car the distance from one house to another is the same mileage no matter the cost to get there.

Classes are usually not free. They come with a price tag. Even for those that do only the minimum continuing education classes there is a fee and most of us do not settle for the minimum. Is it preferable to have an agent that works hard to keep up with changes within the industry? That takes hard cold cash. We do not want to perform our jobs minimally. I know I do not.

There's another little item called E&O Insurance. That stands for Errors and Omissions Insurance. Every single time we perform a real estate function we put ourselves at risk of making an error or omission. Even if we never have had a complaint and have been in the business for 20+ years, paying all that time, we will continue to pay as long as we are REALTORS®.

Is there a cost to being a REALTOR® instead of being a real estate agent? Oh yes, and it is not cheap. For instance, I pay dues to the Fredericksburg Area Association of REALTORS®. I pay dues to the Virginia Association of REALTORS®, and I pay dues to the National Association of REALTORS®. This is not a one time expense. It is every year, year after year.

Our multiple listing service is indispensable. Would you even consider working with a REALTOR® that did not belong to the multiple listing service in your area? I doubt it very much. Is that a freebie for us? No! We pay and we pay plenty for this tool.

Do we need computers at home, Internet connections, fax machines, printer/copiers? Again the answer is yes. Do we need cell phones, decent well running vehicles, and a digital camera. Of course we do. Does our company provide all of these items (or even some of them) for us? No!

Do we need a presence on the Internet? Without a doubt! How else are buyers going to find us? We are told that 85% or so begin, and possibly end, their search for a REALTOR® there. If we are to survive that is where we need to be.

Do we need to be on the Internet in order to sell our listings? I really believe so. After all how many sellers are interested in listing their property with an agent that doesn't advertise on the most used source to attract buyers?

Is a portion of our social security paid for by our company? No! We pay the full amount ourselves. Every penny of it.

We do not receive sick pay, health insurance, vacation time, personal days, dental insurance, or any of the other benefits that many employed folks receive and do not want to lose.

If we have a dry spell, and in this market there are many agents that are coming up dry, there is no recourse to unemployment compensation.

This is not meant to be a litany of REALTOR® woes. It is to merely shed a little light on the truth. We receive the compensation that we do because it costs to do this job. If there is not sufficient compensation who will do it?

Do some receive more compensation than others? Of course and that is true in almost every single field. Are there some years we receive better compensation than other times? Also true.

This post is only to discuss some of the expenses we incur. It does not cover everything and absolutely nothing about the time commitment we must make in order to have some degree of "success".

We survive the lean times hoping for (and working hard towards) the more prosperous times. Most of us do it because we love it and there are many, many pluses.

I will tell you about them in a future post.

+++++++++++++++++++++++++++++++++++++++++++++++++++

GET MOVING WITH KATE!

540-226-1964 cell

lakeanna.kate@gmail.com

lakeannacountry.com

lakeanna-realestate.com (Blog)

Terrible Dressers & Business Casual Gone Wild...Can Your Professional Appearance Affect Your Paycheck?

Randy Poll (Greenridge Realty Inc.) — Mon, 01 Nov 2010 11:41:49 -0700

Here is another great blog post from my friend Lola Audu. I agree, casual can be appropriate at times, but we need to remember that we are professionals and that our clients are entrusting us with what's usually their most valuable asset and our appearance is a very important part of gaining their trust and confidence. How many times has your attorney showed up in torn blue jeans (because they're cool) or your doctor planning your surgery came into the examining room with sweats and a T-shirt (because they're comfortable?) How comfortable would you feel that you made the best choice, if they did? People used to call me names like "The preacher" or "Reverend", because I usually wear a tie, but someone wise once told me: "Don't lower yourself to other peoples standards, be an example and raise them up to your standards." I don't know if it's because of advise like that, or just because I'm too old and too stubborn to change, but I guess I will just keep doing the best with what I have and try to dress professionally. I can always take off my jacket, loose the tie and roll up my sleeves, but I can't go the opposite direction if I am unprepared. "Casual Friday" is fine, as long as it's still done with common sense. (Thanks Lola!)

Via Lola Audu~Audu Real Estate~Grand Rapids, MI Real Estate:

When I landed my first administrative job out of college, the dress code was pretty much set in stone. Jeans and flip-flops (you've got to be kidding!) Back then, you wore pantyhose and closed toe shoes even in sweltering 100 degree weather. Suits were the norm if you were going to be taken seriously, and the bared arm or mid-riff was grounds for scandelous stares. Certain things just weren't done.

When I started my real estate career in the mid 90's, the dress code enforcement policy was still very much alive and well. My first company required the wearing of a 'Gold Jacket'. I became adept at finding ways to pair gold inventively with all sorts of things in my closet. But, it didn't stop with your personal appearance, your car was also expected to be neat and free of debris. The broker told us that HIS reputation was on the line. When we left the office to do a transaction, it wasn't just about us...

It's amazing how quickly things change. Within the past 15 years, Casual Friday has morphed into Casual Everyday. Sometimes, I've gone to a Closing and been hard pressed to figure out who was the Realtor® and who was the client. And it had nothing to do with the price range of the home. One wonders if the move to home offices has escalated this trend or if we're simply becoming messier as a society in all aspects of life - homes, dress, cars etc.

The latest edition of Bloomberg Business Week has an article entitled 'The Tragic Decline of Business Casual'. It seems that there is a growing backlash from employers about the extent to which casual dressing has digressed over the past couple of decades in the professional setting. Some companies are now hiring image consultants to teach their employees proper etiquette and how to dress for work.

In the real estate community, our employers are the clients we serve. One can't help but wonder how they perceive this issue when in their workplaces, there is a growing awareness of the need to present a certain appearance in public. After all, when I go to see a doctor, I expect him/her to be clean, well dressed and wearing a white coat. And, I wouldn't trust my money to an accountant who showed up with holes in his jeans. Why do we think that it's OK to present a less than stellar image at times to individuals who are entrusting their real estate agent with the largest financial investment 97% of Americans will ever make?

In Case You Were Wondering...

According to the Bloomberg Business Week article, the Top five Office Fashion Faux Pas are...

1. Hooker Earrings

2. Chest Plumes...as in the open shirt which bares the chest or breast

3. Exposed Bra Straps

4. Toes...yes, as in bare toes even when adorned with a nice pedicure

5. Tattoos...if you have them, cover them up when in a professional setting.

Lola Audu, is the Designated Broker & Owner of Audu Real Estate. Our company specializes in helping people buy and sell homes in the greater Grand Rapids, West Michigan area. We've had the privilege of helping hundreds of clients succeed in their goals of purchasing and selling property including demonstrated success in the negotiation of Short Sale Transactions. You can contact us via e-mail @ info@auduhomes.com or by phone at 616-791-0511.

I got called out for improperly using "Realtor"

Randy Poll (Greenridge Realty Inc.) — Mon, 04 Oct 2010 14:50:56 -0700

Well, here's a great tip for getting that little ® behind REALTOR® so you can properly use it. This a great post for those of you who want to "do it right", but just weren't sure how. Thanks Jim

Via Jim Frimmer, Realtor, Mission Valley, CA DRE #01458572 (Century 21 Award):

I recently got called out for improper use of the word Realtor.

I wasn't sure what I was doing wrong because I always capitalize it, although that is the third preferred use.

The preferred use is REALTOR®.

The second preferred use is Realtor®.

However, the National Association of Realtors, recognizing that putting registered symbols or all-caps REALTORs throughout text can easily dilute the message of the text for the general public, allows the third preferred use of Realtor, with just an initial capital letter.

In all instances, though, realtor with all lower case is not proper.

Also note that Realtor© or any other form with the copyright symbol is incorrect. Realtor is not copyrighted. It is registered (®).

Note that Realtor™ or any other form with the trademark symbol is also incorrect.

If you like the registered symbol, ®, you can easily make it on any keyboard by holding the ALT key down and then typing 174 on your keypad, the numbers at the right of your keyboard. Don't use the numbers at the top; those won't work. If 174 doesn't work in your software or browser, simply use 0174. Apple folks, you're on your own since I use PCs here.

What I did not know is that only people can be Realtors. Well, I knew that but had forgotten my grammar rules. So when I said, "Jim Frimmer, your Mission Valley Realtor," I was using Realtor improperly. Mission Valley cannot be a Realtor. Nor can California, as in "your San Diego, California, Realtor."

However, Realtor can be used by itself, as in "your Realtor in Mission Valley."

I've noticed that I'm not the only one here at ActiveRain using Realtor improperly. In fact, after being called out for improper use, I've been noticing that many other people are using it improperly. In fact, some of them are people who have been real estate agents (although perhaps not Realtors) for 10, 15, 20, 25, 30, 35 years longer than me.

I'm wondering if the rules have changed recently, which simply means that one should do an annual check on one's business to make sure that it still meets all the rules and regulations under which we operate.

If you need more information on how to properly use Realtor and its various forms, see the National Association of Realtors web site.

♫♪♫♫♪♫

If you're looking for a great Realtor in San Diego, well,
let me Google one for you.
I'm available 24/7, so feel free to contact me by phone or email.

Jim Frimmer, Realtor
Century 21 Award Mission Valley
California DRE License #01458572
619-729-5701
jimfrimmer@century21award.com
Mission Valley Condos Information

♪♫♫♫♪

Try RusselRayPhotos.com for inexpensive, royalty-free photos.

♫♪♫♫♪♫

Recent blog posts:

Calling all cats. Calling all cats. — Please put a picture of your cats in this post. We're trying to get as many cat pictures as possible by the end of 2010.

When Father's Day weekend is over....

What do cats, dogs, and pigs have in common?

San Diego Mission Valley condos with your Realtor, Jim Frimmer — River Scene

Real estate news with your Realtor, Jim Frimmer — San Diego County foreclosures fall 30%

Real estate news with your Realtor, Jim Frimmer — May 2010 reports are in and it's continuing good news for San Diego County real estate

Out & About with Jim Frimmer, your Realtor in Mission Valley — March Field Air Museum

Anyone here speak Russian?

Open house update for Sunday, June 13, 2010

My Clients liked their new condo!

Out & About with Jim Frimmer, your Realtor in Mission Valley — Welcome aboard the N.R.P. Sagres

500,000 points on the nose!

Out & About with Jim Frimmer, your Realtor in Mission Valley — Public art sometimes moves in unexpected ways

Things I don't understand

Open house update for Sunday, June 6, 2010

San Diego Mission Valley condos with Jim Frimmer — Proposed northward extension of the San Diego Trolley

If you are willing to work open houses properly, they can work for you, too!

IKEA recalls about 1,900 Sultan Heidel spring mattresses

Meet your ActiveRain newbies from April 2010

Out & About with Jim Frimmer, your Realtor in Mission Valley — Memorial Day Events in San Diego County

My favorite ActiveRain Groups:

ActiveRain Convention Station
ActiveRain Guerrilla Marketing Station
ActiveRain History Station
ActiveRain Library Station
ActiveRain Nature Station
ActiveRain Symphony Station
ActiveRain Travel Station

Global Pursuit of the American Dream

Randy Poll (Greenridge Realty Inc.) — Thu, 26 Aug 2010 18:37:59 -0700

News Release

For more information contact:

Patricia Nieboer, Association Executive

West Central Association of REALTORS7

10443 Northland Drive, Big Rapids, MI 49307

(231) 796-3640, (231)796-3645(fax)

Global Pursuit of the American Dream

August 2010

American real estate is catching the eye of international buyers. Foreigners who understand the value of owning U.S. property are flocking stateside to cash in on the opportunities in the U.S. housing market. This is according to the National Association of Realtors^® 2010 Profile of International Home Buying Activity, which revealed an increase in the number of international clients serviced by Realtors^® over the past year.

West Central Association of REALTORS^® says several factors, including the strength of the dollar and the emerging economic recovery, continue to drive international interest in owning a home in this country.

“International buyers and investors are investing in their future by owning homes here in the U.S.,” said Randy Poll, President. “Foreign buyers continue to see this country as a desirable place to own property, and they view ownership here as a profitable investment.”

According to the survey, 28 percent of Realtors^® reported working with at least one international client from the period between April 1, 2009 and March 31, 2010. Eighteen percent of Realtors^® completed at least one international transaction during that time. Those buyers represented 7 percent of the total housing market and are estimated to have purchased $66 billion of U.S. residential property. In comparison, the 2009 survey reported 23 percent of Realtors^®worked with international clients and 12 percent completed at least one sale.

International buyers hailed from 53 countries across the globe, but more than half came from Canada, Mexico, the U.K. and China/Hong Kong. At 23 percent, Canadians make up the largest group, and have remained so over the past three years. The survey shows Mexican buyers accounted for 10 percent, surpassing the U.K. as the second largest group of international buyers. Buyers from the U.K. decreased from 10.5 percent in 2009 to nine percent in 2010. Eight percent of buyers came from China/Hong Kong.

“Perceptions abroad about U.S market trends have lead many foreign clients to believe purchasing a home here is more affordable than in their country and holds more value,” Poll said. “The U.S. remains an attractive destination for foreign investors, despite the global credit crunch and economic slowdown.”

Proximity to their home country and the convenience of air transportation are the two factors that most influenced international buyers when deciding where to buy in the states. Florida typically attracts European, Canadian and South American buyers. The East Coast draws more Europeans, and Asian buyers are attracted to the West Coast. The Southwest attracts many Mexican buyers.

Poll says the rise in international interest has had an immediate and powerful impact on real estate markets.

“Through working with immigrant buyers and foreign investors, Realtors^® have developed partnerships that bring value to buyers, sellers and investors around the world. International clients know that Realtors^® have the expertise, knowledge and experience to help guide them through the complex process of buying property here at home.”

The West Central Association of REALTORS, a local non-profit real estate trade association, has over 240 members in Newaygo, Lake, Mecosta, Osceola, and Montcalm counties. Affiliated with the Michigan and National Association of REALTORS7, it is dedicated to education for professionals, promotion of home and real property ownership and protection of personal property rights through legislation.

Senate Bill 77 offers a second chance to claim your Principle Residence Exemption

Randy Poll (Greenridge Realty Inc.) — Sat, 21 Aug 2010 12:13:10 -0700

Great news from the MAR Public Policy Staff… Senate Bill 77, sponsored by Senator Jud Gilbert (R-Algonac) unanimously passed the Senate Finance Committee on Thursday. This legislation would provide for an additional “Principle Residence” filing date of October 1st.

Currently if you buy a home that is “zero % Homestead”, you have to wait until May first to claim your exemption, so if you buy your home on May 2nd, you have to pay 18 additional mills for a year. This bill will give a second filing date (October 1st) for those who find themselves in this situation.

With all of the foreclosures on the market these days, many of which have lost the exemption due to being vacant for a long period of time, this will be a great savings to many, who have had to shoulder this extra tax burden for months, waiting for May 1st to roll around.

Hopefully this is only the beginning of some great common sense legislation that we will be seeing coming out of Lansing as we all work together towards getting Michigan’s economy back on track.

Thanks to the Senate Finance Committee Chair, Senator Nancy Cassis (R – Novi), bill sponsor, Senator Jud Gilbert (R – Algonac) and committee members Senator Mark Jansen (R- Cutlerville), Senator John Pappageorge (R-Troy) Senator Gilda Jacobs (D – Huntington Woods) and Senator Deb Cherry (D – Burton) for their support of this important legislation. and thanks to the MAR Public Policy staff for meeting with legislative leaders to help move Senate Bill 77 though the House and Senate.

Don't House Flippers Deserve A Profit?

Randy Poll (Greenridge Realty Inc.) — Sat, 14 Aug 2010 14:54:51 -0700

"Don't house flippers deserve a profit?" Following is a blog that I'm "re-blogging" as it is very relevent to what I have been thinking and finding to be true in my area. I have a couple of clients who do this for a living and what they have done to some of these houses is truely amazing.

(Before photo of cottage in Northern Newaygo County)

Some are estate properties, some foreclosures, but in any case, these folks are not "taking advantage" of anyone's misfortune, these properties need to be sold, and they need to be improved, and here, of all places, in the land of free enterprise, we should understand that with great risk, should come great reward.

(Old Kitchen)

(Renovated cottage)

(Renovated kitchen)

These investors do a great service to us all, and here are some of the reasons I believe the deserve a good profit:

1. Risk...These folks are risking a lot of money. They are taking a gamble that the great expense they go too, to get these homes back in livable (and finance-able) condition will provide them with enough profit to stay in business.

2. Increased Value...In most cases these investors are taking homes in very poor repair, and they are bringing them back to life, which increases the value, which in turn, increases the value of other homes in the neighborhood.

3. Affordable Housing...Finally, they are providing affordable homes in "move-in" condition. These homes in many cases are not able to finance for most people, or if they are, they need so much work that the buyer is not able to take on the task. This is a great service to the community, as in most cases these are the first-time home buyers who, if they are unable to find suitable homes that they can actually get a loan for and feel good about living in, choose instead to continue renting.

In closing, I just want to say that I respect those "House Flippers" that are doing it right, they spend a lot of money to make these houses...homes again, and they deserve to sell them for "fair market value." The question: "How much did they pay for it" should really be irrelevant, instead, we should be asking, how much value is there in what they are providing? If the value is there, let them make their profit, they've earned it.

Randy

(old bathroom in Granny's house)

(new bathroom in Granny's house)

Via Karen Fiddler Broker/Realtor (Great Western Realty Group/eVantage Real Estate):

I was out with a home buyer. This was not their first time, we had sold their home a year ago and they have been traveling, visiting family, and RVing across the country....needless-to-say these are my kind of people :). But while I relate to them personally and greatly enjoy their perspectives on life, I was surprised to find a prejudice against "flipper" homes.

Because of my respect for this couple, I asked them if I could blog about this issue on Active Rain and make the conversation public. So beware....this is public.

The couple expressed that they felt that there was something wrong with an investor making money off someone else's tragedy and they didn't want to contribute....fair enough.

But then as I pondered this, I wondered what's wrong with someone taking advantage of a financial situation to create wealth?

It must be made clear that these are not people who bought short sales and are flipping them without any improvements, we were looking at home which were purchased at auction (I can tell because of the way our MLS shows the title) and then spruced up and re-listed. Normally these homes have fresh paint and carpet, the yards have been tidied up or replanted and often....the kitchens and bathrooms have had granite or tile installed. They are lovely homes!

So if an investor purchases the home, takes the financial risk, creates value and reaps a profit....all while providing an easy escrow and quality home....why is this wrong? I don't think it is!

Karen

Karen Fiddler
Broker/Associate
www.great-western-realty.com

Serving all of Orange County, California Real Estate!

Using the "REALTOR®" word correctly

Randy Poll (Greenridge Realty Inc.) — Fri, 06 Aug 2010 10:32:47 -0700

Great info from Jim Lee. Thanks Jim!

Via Jim Lee, Knoxville Tennessee Realtor® (Realty Executives Associates):

Here's the 'quick and dirty' way to ensure you're using the word "REALTOR®" in the proper manner.

Just as all poodles are dogs but not all dogs are poodles; all REALTORS® are real estate licensees but not all real estate licensees are REALTORS®.

Being a REALTOR® simply means you or your firm are a member of the National Association of REALTORS® (NAR).

If you just substitute the word "MEMBER" for REALTOR® in trying to figure out property useage, the right answer quickly become apparent.

For example; I'm Jim Lee, REALTOR® or Jim Lee member (of the NAR). So that useage would be correct.

However I can't be "Knoxville's Best REALTOR®" which would mean "Knoxville's Best Member". That's confusing and using the "R" word in an improper context.

Here's what NAR says about using the REALTOR® word on the Internet:

"Trademark/Logo Use on the Internet

When surfing the Web for real estate homepages, it's quite common to come across sites belonging to REALTORS®. If you are looking to add your own electronic presence on the Internet, it is easy to get caught up in designing your own web page and choosing a domain name which will capture the attention of surfers and make you easily identifiable.

Whether it is the domain name of your home page or other domain names you use to point to your home page, REALTORS® often want to use the REALTOR® marks as part of a domain name or address to distinguish themselves, but they must keep in mind that there are rules governing proper use of the REALTOR® marks that must be adhered to at all times regardless of the media used.

These rules are found in the National Association's Membership Marks Manual, a reference manual available on-line at REALTOR.org, explaining proper use of the REALTOR® marks including examples of correct and incorrect uses. Here is a brief list of the principal rules affecting use of the REALTOR® marks in domain names:

The term REALTOR®, whether used as part of a domain name or in some other fashion must refer to a member or a member's firm.

The term REALTOR® may not be used with descriptive words or phrases. For example, Number1realtor.com, numberone-realtor.com, chicagorealtors.org or realtorproperties.com are all incorrect.

The term REALTOR® should never be used to denote an occupation or business. Do not combine words like “your,” “my,” “our” or any descriptive words or phrases between your name and the membership mark. JaneDoeMyRealtor.com and YourChicagoRealtorJohnDoe.com are all examples of improper use.

For use as a domain name or e-mail address on the Internet the term REALTOR® does not need to be separated from the member's name or firm name with punctuation. For example, both johndoe-realtor.com and johndoerealtor.com would be correct uses of the term as a part of domain names and jdoe*realtors@webnetservices.com and jdoerealtors@webnetservices.com are both correct uses of the term as part of an e-mail address.

The REALTOR® block R logo should not be used as hypertext links at a web site as such uses can suggest an endorsement or recommendation of the linked site by your Association. The only exception would be to establish a link to the National Association's web site, REALTOR.org, or its official property listing site, REALTOR.com.

The public has adopted the use of all lower case letters when writing domain names, even those containing trademarks. Therefore, for purposes of domain names and internet addresses only, there is an exception to the rule on capitalization of the term REALTOR® and it may appear in lower case letters.

Whether you use traditional print media or the Internet, it is essential to use the REALTOR® marks in accordance with the rules and guidelines of the National Association. The REALTOR® marks should only be used to denote membership in the NATIONAL ASSOCIATION OF REALTORS"

Jim Lee, CRS, ABR, GRI, ACRE, NAR Certified e-PRO Trainer
*****************************************************************
Visit my blog: www.KnoxvilleTennesseeRealEstateBlog.com
Realty Executives Associates, Knoxville, Tennessee
See all Knoxville area Realtor listings at: www.KnoxvilleHomeCenter.com
(865) 693-3232, My Personal Toll Free # 1-800-662-2488 ext. 163
mailto:Jim@JimLee.com

Click here to subscribe to my blog and get up to the minute news and reports about real estate in the greater Knoxville, Tennessee area.

Politics…a gentle art…

Randy Poll (Greenridge Realty Inc.) — Mon, 19 Jul 2010 11:03:08 -0700

“Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other.” – Author unknown

(This would be funnier, if it wasn’t so often true) Hopefully as we head out to vote in the primary election on August 3rd, we can discern between those with empty promises and those who truly have great ideas and a desire to facilitate change. (call me naive, but I do believe we have candidates like this.)

As I’ve said before, and will most likely say again, it is up to us to “let our voices be heard”, we need to take the time to get to know the candidates and the issues and where each stands on them, and then… get out and vote.

Or, will you take the Forrest Gump approach and reach in that box of chocolates and just hope you come out with something palatable?

Whoever you may support…”Let your voice be heard”…VOTE!

Let your voice be heard, get out and vote!

Randy Poll (Greenridge Realty Inc.) — Fri, 16 Jul 2010 11:28:25 -0700

Marc Libants - Candidate for 100th District House of Represtatives seat

As a local association president, I recently had the privilege of interviewing many of the candidates running for office this year, throughout the West Michigan Area and I was really impressed and somewhat surprised at the quality of these individuals. There are a lot of really good ideas and these folks are very dedicated to bring positive change to Lansing, as well as Washington D.C.

We have had a tough time here in Michigan, with the rise in unemployment, reaching 20% in some areas, and the decline in the housing market, with home values in many cases dropping 25 or 30% and foreclosures on the rise, we are in desperate need of great leadership in our legislature, and I have certainly been encouraged through this process.

This morning I met with Marc Libants who is running for the 100th District seat for the State House of Representatives. Marc has recently been endorsed by the West Central and Michigan Realtor Associations.

Geoff Hansen - Candidate for State Senate seat

Yesterday I met with Geoff Hansen, who is running for State Senate, Geoff has also been endorsed by the West Central and Michigan Realtor Associations. We wish these candidates the best in the upcoming elections and appreciate all they have done and intend to do to improve the conditions in our state, especially in regards to the housing market and the protection of personal property rights.

This country was intended to be governed by “majority rule”, but that can only happen if the majority let’s their voice be heard, so make sure that whoever you support, you get out and vote! The next opportunity for us is in the primary election on Tuesday August 3rd. This is very a very important election in many of the races and like I mentioned, there are some very good candidates who deserve a good turnout, they are spending thousands of dollars to get their message out there, the least we can do is take a few minutes out of one Tuesday to get out and cast our vote.

These are the people that are going to be making some very important decisions on our behalf for the next several years, so please…”Let your voice be heard.” Vote!!!

Have a great weekend!

Randy

Benefits of Homeownership: What Matters Most

Randy Poll (Greenridge Realty Inc.) — Fri, 09 Jul 2010 18:12:14 -0700

Here is a copy of our news release for July. As interest rates continue to dip down to historic lows, as do home prices, the opportunity to buy a home has never looked brighter. In most cases renters should be asking themselves..."If not now, when?" I would suggest you contact your most trusted mortgage and real estate professionals and see if this isn't the perfect time for you to realize "The American Dream."

For immediate release

Benefits of Homeownership: What Matters Most

July 2010

At some point in time most people are faced with the decision to either buy a home or continue renting, and with the expiration of the home buyer tax credit, that choice may be on many people’s minds these days.

Renting can make sense for those not yet ready to take on the responsibility of homeownership, but for those in a position to purchase a home it can offer immediate benefits and long-term value. According to the West Central Association of REALTORS®, the benefits of owning a home go beyond financial considerations.

“Homeownership is an investment in your future,” said Randy Poll, President. “While financial considerations are certainly important, a lot of today’s buyers are motivated by things beyond just dollars and cents. For many of them, homeownership is a lifestyle choice. They want a place of their own to raise a family, build memories, and be part of a larger community.”

For many people, owning a home is part of the American dream. It continues to be a goal of individuals and families from all walks of life. The NAR 2009 Profile of Home Buyers and Sellers survey reveals buyers most often cite the desire to own a home as the primary reason for their recent home purchase.

Research suggests that homeownership also strengthens communities. Homeowners are more likely to be involved and engaged in local issues, and they move less frequently than renters. This helps prevent crime, improve childhood education and support neighborhood upkeep. According to the National Association of Realtors^® study, Social Benefits of Homeownership and Stable Housing, homeowners are more likely to vote and they volunteer time for political and charitable causes more frequently than renters.

“Buying a home provides families the opportunity to establish roots in a community. It’s also proven to be one of the best ways to long-term wealth, with equity accumulation and tax benefits over time,” said Poll.

Data from the Federal Reserve Board shows a typical homeowner’s net worth is 46 times that of a renter’s. Poll says would-be homeowners should also consider the incredible opportunities offered in the current market.

“The truth is, today’s buyers have a lot of advantages. Inventory is high, prices are affordable and mortgage rates are near 50-year lows,” said Poll. A buyer who’s ready to take the next step should contact a Realtor^® in their area who can help them begin to build their future through homeownership.”

The West Central Association of REALTORS, a local non-profit real estate trade association, has over 230 members in Newaygo, Lake, Mecosta, Osceola, and Montcalm counties. Affiliated with the Michigan and National Association of REALTORS®, it is dedicated to education for professionals, promotion of home and real property ownership and protection of personal property rights through legislation.

For more information contact:

Patricia Nieboer, Association Executive

West Central Association of REALTORS®

10443 Northland Drive, Big Rapids, MI 49307

(231) 796-3640, (231)796-3645(fax)

Fannie Mae to crack down on “Strategic Defaults”

Randy Poll (Greenridge Realty Inc.) — Sat, 26 Jun 2010 17:40:17 -0700

Home owners who walk away from their homes, even though they can actually afford the mortgage may be in for an unpleasant surprise, when they go to purchase their next home. Earlier this month the house of representatives passed a bill barring "strategic defaulters" from obtaining an FHA backed mortgages and now Freddie Mac and Fannie Mae are also cracking down, by not allowing these types of borrowers to obtain a loan for 7 years.

A real estate research firm: Realty Trac estimates that approximately 3 million home owners will get foreclosure notices this year and that over a million of those will actually get foreclosed. There are currently over 11 million homes "under water" and predictions are that there could be as many as 21 million over the next 3 years. With this many people with homes that are worth less than they owe, many are choosing to just bail, rather than continuing to pay their mortgage, and some speculate the number of borrowers making this choice, may once again exceed 1 million borrowers, over twice the number for 2008 and 4 times the 2007 figures (according to Experian.)

Reports I've read also indicated that Fannie Mae could pursue deficiency judgments more often in the future, so walking away, when you don't really have to (strategic default) may not be a viable option much longer.

My advice is be cautious if you are considering just walking away from your house, and make sure you check with a knowledgeable real estate attorney as to the laws in your state. You may want to consult a real estate professional experienced in short sales and foreclosure avoidance as well as your local non-profit housing agency, which the banks are required to communicate with to try to find alternatives to foreclosure for home owners in trouble.

Explore all your options, or you may be just dreaming of your dream home for about 7 years. 7 years can be a long time....look before you leap.

"Just the facts Ma'am"

Randy Poll (Greenridge Realty Inc.) — Thu, 10 Jun 2010 12:21:05 -0700

Here is some great advise that echos what I have found to be true time and time again. I am constantly telling clients that selling a home in this market is "A beauty contest and a price war, and you have to win both!" These are crucial points to consider in winning the price war, and especially the 4th and 5th points...take the emotion out of it, you need to view you house as a commodity, it is worth what a buyer is willing to pay for it, and the buyer won't pay more because you spent the last 20 years hand picking the rocks in your landscaping, or because you spent thousands of hours remodeling. It's worth is based on what other like homes can be purchased for. Also, your needs..."I need to clear $200K." or, "I need to get my price because it's going to cost me so much to relocate." I'm so sorry to tell you this but buyers, even though they may be wonderful people, and usually they are (they do want to buy your house, right?) They don't care about your needs, they only care about their own, and one of the top concerns is getting a good value in their purchase, and if you are not meeting this need, that is the end of the story. I know this doesn't sound nice, but like Joe Fox (Tom Hanks) says in "You've got mail"..."It's not personal, it's business...It's not PERSONAL, it's BUSINESS." In other words, take the emotion out of it and base your decision on "Just the facts Ma'am." (or sir)

(Thanks, Gary and Claudia Scott for this great post!)

Via Gary and Claudia Scott - Scottsdale, AZ Real Estate (John Hall & Associates):

Establishing the market value is not an absolute science. But is should be based upon location, the latest ‘like property' sales in your neighborhood, condition of home, features, market inventory and conditions.

Here are some factors that should NOT influence the pricing your home :

Your cost. The amount you paid, does not affect the current market value.

Your Investments / Improvements. Sometimes improvements, such as upgraded new kitchen, can influence the asking sales price, but typically you will not recoup the total amount of your improvements. An improvement to you, may not necessarily be an improvement to a potential buyer. Consider the improvements for your enjoyment and use.

The Assessed Value. This is the value given to your property by the local authorities to determine your real estate taxes. This value does not typically reflect the true market value as it is only a percentage of the value.

Your Needs. The value of the property should never be what you ‘need' to recoup from the sale. Value it determined by what a buyer is willing to pay for your property in the current market.

Emotion. How can anyone place a value on either the good or bad emotions/memories associated with your home? Value based on ‘facts' not emotional attachments.

The Real Estate Encyclopedia states that Market Value is: "The highest price in terms of money which a property will bring in a competitive and open market and under all conditions required for a fair sale like the buyer and seller acting prudently with knowledge and neither being affected by undue pressures."

Listing your home for sale at the correct price that reflects fair market value is one of the primary factors that bring a sale in a reasonable time under ANY market conditions.

Selling your home can be exciting, but it also takes work.
Prepare yourself to sell your house. Do your best to see the house, no longer as your home, but as a product to be marketed. Your goal is to get others to see it as their potential home, not yours. The first step in getting your home ready to sell is to "de-personalize" it. Now is the time to fix/repair those problems that you have been putting off. The more your home is 'move in condition' ready, the more buyers will be motived to purchase it.

Feel free to contact us at any time for a FREE market evaluation

GaryandClaudia@cox.net

http://www.az-real-estate-sales.com

Feds estimate off by over 90% regarding loan modifications…and we pay these people?

Randy Poll (Greenridge Realty Inc.) — Sun, 02 May 2010 18:52:29 -0700

With nearly a 1/3 of Michigan home owners owing more than their homes are worth (Upside Down) and 10% in foreclosure, what are we to do? Well the $75 Billion Home Affordable Modification Program (HAMP) has not done it’s job, so modifying your loan may not be a viable option. Out of a projected 3 to 4 million home owners that this program was supposed to help modify their mortgages, as of February 2010,there had only been 261,000 who were successful in doing so, that’s only 8.7% of the people the “Feds” said they were projecting would be helped. Just to put that into perspective, (somebody check my math, my calculator won’t go that high) that means we spent over $280 million dollars for each home owner that was helped. This is our money we’re talking about here, and I don’t know about you, but I sure would like to know where that money went… wouldn’t you?

Anyway, there are some who were successful in getting these modifications, so how can you increase your odds? Following is my version of a list of tips I found in an article by Edmund L. Andrews, author of “Busted – Life inside the Great Mortgage Meltdown” These are some good points that may help, and if not, you may need to consider other options that probably won’t result in you keeping your home, but may help you by minimizing the damage to your credit, but…that’s a subject for another day.

How to get assistance in obtaining a loan modification

Be sure all your paperwork is in order…and complete. Make sure you have all the documents the lender is requiring, regardless of how trivial you may think the item is. If it’s not there your whole file could end up in the shredder
Put money aside in an escrow account to show that you have the resources to make the payments.
Use a HUD approved counselor – (like NCCS in Newaygo County MI.) The banks are required to communicate with these folks who will certainly improve your odds of getting results.
Don’t stop with the 1^st call…be persistent, don’t stop until you are able to talk to someone who has the authority to make decisions on your file.
Avoid Scams. There are a lot of crooks out there feeding on the unfortunate. A good rule of thumb…if they ask for money up front, they are probably scammers.

Hopefully these tips may help your odds in getting a successful result at obtaining a loan modification, if not, get in touch with a good real estate professional with a sound knowledge of short-sales and foreclosures and use that knowledge to guide you through your options. It’s not easy or pleasant to be in this position,

but if you are…you are not alone and there is help out there, you just need to find the right people and ask the right questions.

“It’s a buyer’s market!”, what do you mean they won’t reduce their price?”

Randy Poll (Greenridge Realty Inc.) — Thu, 25 Mar 2010 15:38:56 -0700

“It’s a buyer’s market!”, what do you mean they won’t reduce their price?”

March 25, 2010 by rpoll

“It’s a buyer’s Market!”, what do you mean they won’t reduce their price?” How many times have you heard this lately? But can you really believe everything you hear on the evening news, or read in the paper? In my area in West Michigan, there are actually several “Micro-Markets” as I would call them, there are the high-end homes, those with prices over $275,000 or so, which still haven’t been moving well, but because most of these sellers, “Don’t have to sell”, they are much more resistant to getting the home priced where the buyers are willing to buy. There is the $75,000 to about $110,000 market which is actually rapidly becoming a buyers market in our area, as many buyers who didn’t have their credit in order, or were a little shaky on the job front, have seen improvements in their financial situation and are now scrambling to buy a home before the tax credits run out at the end of April. Many of these buyers who I have worked with have gotten frustrated with trying to buy foreclosures, which often are in too poor of condition to finance, and nearly always have competing offers which always drives up the price as well, so these buyers are taking a step up and buying something in move-in condition, but still at a good price. The foreclosure is another “micro-market” which is rapidly becoming a buyers market, due to the aggressive pricing and the fact that their are many investors in the market place right now who have the cash to purchase and repair these homes, and want to cash in on the bargains. These homes are nearly always getting multiple offers, and often selling for several thousand over asking price. One of my buyers recently lost out on a house on which their were four offers and the purchase price was $12,000 over asking price. Not exactly my idea of a buyer’s market, huh?

This week I was able to negotiate 3 full price offers..yes, that’s right..3 full price offers! These were all what we call “arms length” transactions, not bank foreclosures or short sales, and one of them was a home that had been on the market since 2006. Again, not what I think of when I hear the term “Buyer’s Market.”

Does this mean all the good deals are gone? Absolutely not, it just means that the buyers and the sellers and their agents are becoming more educated and recognize a good deal when they see it, and in many cases have missed out on a house or two and don’t want to make the same mistake again. So if you are looking for great deal, the first step is recognizing it when you see it, and then, trust the wise counsel of a qualified real estate professional, and make a good offer on the right property, at the right time.

A couple tips I would suggest are first, have your agent do some research for you, and determine where the price is compared to the competition, what is the history, how long on the market, any price reductions, etc…also are you in competition with any other buyers, if you are, be prepared to make a lot better offer than you might have, if you had been the “only game in town.” But don’t worry, if you’ve done your research and you are comfortable with the price, you may still be getting a steal, even if it doesn’t feel like it. In my example earlier of the house that sold for $12,000 over asking price, it was still a real bargain at that price, and that is the key, recognizing it when you see it.

So find a great agent, and get out there and find your bargain, before the tax credit runs out, and remember, just because they say it on TV, doesn’t make it true, talk to a real estate professional, they are the ones who live it every day, they are the ones who have all the information you need to make a wise decision, and they are the ones who truly want to see your dreams come true.

Randy Poll, SRES, ABR, AHWD, SFR

Greenridge Realty Inc. Fremont, MI

Posted in https://randypoll.wordpress.com/

Are you a “Stand Out”, or just another face in the crowd?

Randy Poll (Greenridge Realty Inc.) — Tue, 23 Mar 2010 11:16:31 -0700

I don’t know about you, but I often hear people say “I’m too busy”, or I’d really like too…but…Etc…Recently I’ve had the opportunity to attend several training sessions, some geared toward my marketing, and others toward my real estate knowledge,( like yesterday’s Short Sale and Foreclosure Resource certification course.) Last week I attended a session put on by marketing guru, Tony Rubleski, President and author of Mind Capture. Tony teaches people across the country how to “Stand Out”, and how to differentiate themselves from the crowd. If you ever get a chance to hear Tony speak, I would highly recommend you take the time to hear him, he packs a lot of great information in a short session and is a very good communicator.

As I sat though these training sessions the past couple weeks, it occurred to me that there was something that all of those who attended had in common…they showed up! Although several hundred people were invited to attend these functions, the number who actually took the time were in the dozens, and these are the people who “stand out”, just by the fact that they are willing to take the time to try to better themselves, while so many others make excuses why they can’t. I am especially proud of the group of great professionals from my office and my company who showed up in large numbers, way to go gang, you truly do “Stand Out”.

I guess what I’m trying to say is simply, “Are you a “Stand Out”, or just another face in the crowd?” So many times we just get focused on doing what everyone else is doing, and maintaining the “Status Quo”, that we miss the opportunities to differentiate ourselves from the competition. One of the best ways to do this is to be better educated than the crowd, and there are so many opportunities to learn, and improve ourselves, that there is really little reason not to do it, and often, it doesn’t even cost anything. Two of the training sessions I attended were sponsored by companies, and did not cost anything to attend, and the 3rd was offered at a great discount. there are many other tools available online where you can learn an almost endless number of things, which in many cases are free as well. So if you want to stand out, why not start by showing up and gaining an education that others are not willing to take the time out of their schedules to do. The next time you have the opportunity to learn something new, show up and be a “stand out” you’ll be amazed how rewarding it will be. Like Zig Ziggler used to say, “There’s plenty of room at the top, just not enough to sit down.”

Tony had a similar photo as this one….I choose to be the “Yellow Tulip”…how about you?

Education is a big way you can “Stand Out” from the crowd, and with all that is available to us today, it’s never been easier to take advantage of the opportunities. To schedule Tony Rubleski for your organization, email him at: tony@mindcapturegroup.com and for free tips and tools, visit his website at www.mindcapturegroup.com

Randy Poll, SRES, ABR, AHWD,

2010 President – West Central Association of REALTORS

Greenridge Realty Inc – Fremont, MI

Economic humor…with a touch of reality

Randy Poll (Greenridge Realty Inc.) — Mon, 11 Jan 2010 11:01:45 -0800

“The economy is so bad that ..

I got a pre-declined credit card in the mail.

I ordered a burger at McDonald’s and the kid behind the counter asked, “Can you afford fries with that?”

CEO’s are now playing miniature golf.

If the bank returns your check marked “Insufficient Funds,” you call them and ask if they meant you or them.

Hot Wheels and Matchbox stocks are trading higher than GM.

McDonald’s is selling the 1/4 ouncer.

Parents in Beverly Hills fired their nannies and learned their children’s names.

A truckload of Americans was caught sneaking into Mexico .

Dick Cheney took his stockbroker hunting.

Motel Six won’t leave the light on anymore.

The Mafia is laying off judges.

Exxon-Mobil laid off 25 Congressmen.

Congress says they are looking into this Bernard Madoff scandal. Oh Great!! The guy who made $50 Billion disappear is being investigated by the people who made $1.5 Trillion disappear!

And, finally…

I was so depressed last night thinking about the economy, wars, jobs, my savings, Social Security, retirement funds, etc., I called the Suicide Lifeline. I got a call center in Pakistan , and when I told them I was suicidal, they got all excited, and asked if I could drive a truck.”

(Author Unknown)

______________________________________________________________________________________________________________________________

Well, with all we’ve been through…we all need a good laugh, right? As we head into 2010, we do have other reasons to put a smile on our face, and even though our recovery may be slow, it is substantially better than it was last year, even here in Michigan where for the 1st time since 2001 we actually dipped below 10 million people in our state, one of only 3 states who have lost population, and #1 on that short list, but lets not forget about the good news, and that is: the long range projections are, that our population will eventually rebound and we are likely to double in the next couple decades. We will all benefit from the needs of this population growth as businesses of all types will be established, to service the needs of these people.

Watch video from NAR Chief Economist – Lawrence Yun

NAR Chief Economist Lawrence Yun noted recently that after 3 years of price declines, “…There are some signs that in some markets we may have stabilization by mid-year.” Yun said, and although the huge surge in home sales in October and November of last year, due to the proposed end of the First Time Home Buyer’s Tax Credit tapered off in December, I believe we may see a similar spike coming as we approach the end to the extension and expansion of these tax credits, which require properties to be “under contract” by April 30th to take advantage of these credits. This will be especially important to “move-up buyers”, who will be trying to take advantage of the new $6500 tax credit for those who sell their primary residence and buy a new one in the same time frame mentioned above. (contact your REALTOR or tax preparer for more details)

Mr. Yun also projected that mortgage rates which have been historically low recently, are expected to rise slightly, by spring, maybe to around 5.5%, which it appears, is already happening. This may also help our recovery in the housing market as home buyers try to take advantage of these attractive interest rates before they climb any higher.

Although selling a home in this market may offer some challenges, and you may not get as much as you had hoped for, 2010 should continue to be a phenomenal time to buy, and with good counsel from a qualified Realtor, you should have a very good chance of coming out on top in the real estate market this year. As for you first time home buyer’s…what are you waiting for? There may never be a better time to buy your first home, and with the tax credit and low interest rates, very little reason not to take advantage.

Have a great week and…keep smiling!

Randy

Bowl Games and Blogging….that’s the way to start a new year!

Randy Poll (Greenridge Realty Inc.) — Fri, 01 Jan 2010 21:28:36 -0800

Well I don’t know about you, but I always enjoy a certain amount of football on New Years Day, and today was no different, a leisurely morning…coffee, breakfast and the Rose Parade is a tradition in our house, along with playing games and an occasional snack. This evening as I watched the Rose Bowl between Ohio State and Oregon, I noticed the National Association of Realtors had a couple of nice commercials on and during halftime, I checked out a website they mentioned……www.houselogic.com which includes some great tax credit info on both housing and energy saving improvements. Whether you are installing a geothermal heat pump, trading in clunker appliances, or installing solar panels, you may be surprised to find these improvements on the list of tax credits that you may qualify for. This tax credit is capped at $1,500 and includes items such as: Replacing aging windows, HVAC systems, and non-solar water heaters, installing efficient biomass stoves, adding insulation, or fixing a worn roof. To encourage greater energy efficiency, homeowners can recoup 30% of the cost, up to $1,500, for making any of these qualifying upgrades during 2009 or 2010. Claim the credit for the year in which you complete the project.

Refer to this website: www.houselogic.com for answers to most of your questions regarding these tax credits. (Thanks, NAR for another fine resource.)

As I’ve mentioned before, time is short if you want to take advantage of either the First time Home Buyer’s Tax Credit or the expansion that includes a $6,500 tax credit for those who sell their existing primary residence (if you lived there 5 consecutive years out of the last eight) and purchase a another home before April 30th 2010. I know, I sound like a broken record (I apologize if you’re too young to understand), but I don’t want anyone to say: “Why didn’t you tell me about this”, so I will continue to remind people and share information like this until they stop giving us these credits. So…in between all the great football games that will be on the next several days, either head out to your favorite home improvement store, or contact your Realtor, which ever the case may be, and come April 15th. maybe you’ll have a nice wad of money in your wallet and a few less cold drafts in your living room.

Make it a great 2010!

Randy

Happy New Year!

Randy Poll (Greenridge Realty Inc.) — Wed, 30 Dec 2009 16:29:03 -0800

Happy New Year everyone! Another year is at an end, another beginning, it’s the same every year, isn’t it? “Where did the time go?” Well, as usual, it just went for me, and as usual, I didn’t accomplish half the things I wanted to, or stick to all the New Years resolutions I wanted to , but the great thing about New Years is the chance to begin again, and I think this is a year that most of us can look forward to beginning again.

As far as the housing market is concerned, there is much to be hopeful about. Although the prices of homes had continued to slip in 2009, the last quarter was better and sales were up in most areas as well, and with all of the activity that is out there right now, I expect to see that continue. We may not be at the bottom yet on prices in some areas of the market, and everyone agree’s it won’t be a rapid comeback, but we should see improvements in 2010.

Just a reminder for those who are “waiting until spring” to list your home, you may want to contact your Realtor and get his opinion, but with the extension and expansion of the Home Buyer’s Tax Credit expiring April 30th, you may miss the buyers who are out there right now, and especially those who will be out there by the end of January when they start getting their taxes back, and will use that money for down payments, repairs, inspections, etc.. and don’t want to miss their opportunity to get an extra $8,000 in their pocket. Also, for those who have lived in their current ‘Primary Residence” for 5 out of the last 8 years, they can sell and buy another home and get a tax credit as well, so don’t wait and miss the chance to take advantage of these credits.

In closing, I want to say thanks to all my clients, colleagues and friends, who have made 2009 a great year, in spite of the circumstances. I am thankful for each and every one of you and wish you a most Happy and Prosperous New Year!

Randy

Sales may be up, but what about property values?

Randy Poll (Greenridge Realty Inc.) — Fri, 27 Nov 2009 09:32:40 -0800

Anyone who knows me, knows that I am an optimist, a “glass is half full” kind of guy. Once an optimist just like me fell off the balcony of his high-rise hotel and people could hear him say as he fell past their floors…”so far so good….so far so good.” That being said, sometimes a dose of reality mixed in is called for, and I think this is one of those times. Whether you are a buyer or a seller, there are some things you should consider when looking at your long-range plans in regards to your real estate situation.

There has been recent news that sales in many areas have been increasing, good news to be sure, but as one of my colleagues recently learned at the National Association of Realtors convention in San Diego…although some (myself included) had thought we may be at the bottom in regards to property values, this appears not to be the case. Recent studies indicate that prices could fall further, and may not return to todays value until 2012. In my home state of Michigan and also in Florida, it is a little worse, with estimates that it will be the year 2023 before we get back to, today. This doesn’t mean we are going to see prices drop like a rock, like they have in the past, and it certainly doesn’t mean they aren’t going to come back, but the recovery is not going to be fast, and it’s not going to be soon. For example, in my business, in 2007-2008 my average price per transaction fell about 29% and I expect the 2008-2009 numbers to come in quite a bit lower than that. Much of this has to do with the high number of foreclosures and short-sales that we have experienced the past couple years, but that’s a subject all its own. (I’ll talk more about that another time.)

I’m only bringing this information to light because all too often I hear people say things like: “I’ll just wait a year or two for the market to turn around” or “I just had it appraised a year ago for $200,000, I’ll just wait for someone to come along who will pay what it’s worth.” As you make your decisions regarding your real estate, as a seller, you need to ask yourself: “Am I prepared to wait 13 years to go ahead with my plans?” If the answer is “yes”, by all means, wait it out, things will turn around, if the answer is “no”, then you need to price your home to sell and try to make up any loss on your next purchase.

And what is “priced to sell?” It’s not what your appraisal was 6 months to a year ago, because your property is most likely not worth what it was when that appraisal was done. I find that for a property to be “priced to sell”, it will have to be priced in the bottom 1/3 of similar properties in the same price range, maybe lower, the other 2/3 probably won’t sell for a long time, maybe…never. Just remember, it’s the buyer who determines what your house is worth, and in this type of market, it’s seldom what we think it should be worth. If you have determined you need to sell, then you need to remember two things I always tell my seller clients: “Selling your home in this market is a Beauty Contest, and a Price War…you have to win both!”

OK, let’s get back to the positive side, back to the optimistic side. The good news is, you do have the power to win both of these contests, and you can sell your house and buy another, probably at a price that will more than make up for any loss you may realize on your current home. More good news: The recent extension and expansion of the tax credit now includes a $6500 tax credit for those who have owned their primary residence for 5 consecutive years of the last 8, sell their home and buy a new one before April 30th, 2010. (see your Realtor or tax professional for details.) This should keep things moving through the winter, as people won’t have the luxury of waiting until spring, and still be able to take advantage of these tax credits.

As we head into the holiday season, we really do have much to be thankful for and reason to be hopeful for a brighter future, we just need to keep in mind the realities that we face, and plan accordingly. Those who do will be fine, in the long run, those who don’t are going to be saying: “I should have had a V-8.” (If you’re too young to know what that means, please let me know and I’ll be happy to explain.)

Happy Black Friday, and don’t forget to contact your Realtor for the best sales today, and best of all….there are no lines to wait in.

Real Estate Social Media Policy Manual -Are you doing it right?

Randy Poll (Greenridge Realty Inc.) — Thu, 19 Nov 2009 11:29:36 -0800

Lately I have noticed more and more Realtors have been incorporating ads for real estate for sale into their Facebook profiles, and wanted to say a few words on this subject, as I have been very active in social media in the past couple years and thanks to many fine friends online and off, I have learned some important lessons that many have not yet discovered, and hopefully, someone can learn from my mistakes.

Fairly early in my exploration of this new craze we call: "Social Media", I stumbled upon a Facebook friend by the name of Marcie Roggow, and Marcie quickly set me straight on some issues that are still largely ignored by the real estate community, and is the reason for this post. Marcie graciously reminded me that Article 12 of the Realtor Code of Ethics, which requires that the brokerage be properly identified in our ads for real estate for sale, applies to social media, the same as it does in print, or we are guilty of posting a 'Blind Ad." Apparently, there are many who still haven't gotten the word, as I am seeing more and more of these 'Blind ads' every week, so I am passing this information along, in an effort to get the word out on this important issue. Social Media is a trend, not a fad, so it is important that we get this right, as those who don't will eventually run into trouble down the road.

“Real Estate Social Media Policies,” by real estate risk management authors Marcie Roggow and Frances Flynn

“Every real estate brokerage company must establish an e-policy which determines the best practices to minimize risks and maximize compliance with state and federal regulations and adherence to the NAR Code of Ethics,” says Roggow. “Real Estate Social Media Policies” is a groundbreaking manual that helps real estate brokers assess and manage their online risk across property listing sites, blogs, online forums, messaging venues. http://www.realtown.com/RealEstateSocialMediaPolicies/blog/social-media-policy-manual

About Marcie Roggow and Frances Flynn

Marcie Roggow, ABR, CCIM, CRB, CRS, DREI, GRI, SRS Licensed since l972, Roggow has worked in all facets of the real estate profession: broker-owner, developer, and educator. An active member of the REALTOR family, Marcie believes in giving back to the industry that gave her so much. Through NAR her concentration has been in the professional standards, license law, and risk management committees. Today her training efforts concentrate on the same topics. Her ability to understand and articulate agency and license laws is an asset to her audiences. Roggow has worked closely with REALTOR organizations and Real Estate Commissions alike to draft legislation that can be understood not only by the consumer, but also by the licensee. Roggow is the author of the popular CRB product, “Real Estate Brokerage Policies and Procedures Manual”
Frances Flynn Thorsen Thorsen got her real estate license and became a REALTOR® in 1985. She was an early adopter of real estate technology on the Internet .Frances was one of the first real estate bloggers to receive national attention early in 2005, with interviews in Investors’ Business Daily, BusinessWeek Online, Inman News, REALTOR® Magazine, and The Philadelphia Inquirer. She was founding editor of RealTown.com and worked as Community Manager of Trulia.com. She is CEO of Socialebb Strategies and Solutions and offers an ecumenical approach to blog and social media coaching and consulting services. She created “Social Media: Tips to Avoid A Risk Management Nightmare,” a continuing education class for real estate agents in Arizona. She appeared on the 2008 list of 50 Most Influential Women in Real Estate in the U.S. and the 2009 Proxio list of 25 Most Connected Real Estate Professionals.

http://realestatesocialmediapolicies.com/

If you have any questions on issues relating to social media, please give Marcie Rogow a shout, she has been a great help to me on social media as well as other issues invloving professional standards, license law, risk management, etc... To contact Marcie, just google her name, and you will easily find her, or to find her on Linkedin, follow the link below.

http://realestatesocialmediapolicies.com/

Tax credit extension and expansion…Does it mean ‘real’ money to you?

Randy Poll (Greenridge Realty Inc.) — Sat, 07 Nov 2009 13:37:00 -0800

Yesterday President Obama signed into law the bill that extends and expands the First-Time homebuyers’ Tax Credit, but does this mean ‘real’ money to you?

If you are a First-Time home buyer, and you don’t procrastinate, you should be able to find a home, get it closed in time to take advantage of the tax credit, the important dates to keep in mind are: April 30th 2010. You have to be under contract by this date to qualify, and you have to close by: July 1st 2010.

There is also a provision for current home owners built into this tax credit, allowing anyone who has used the home they are selling as a principal residence consecutively for 5 of the previous 8 years. This tax credit is $6500 (married) or $3200 (filing separately) This is where it gets a little difficult, for those who think they are going to wait until spring to list their house, get it sold and have a house under contract by April 30th, they may have a rude awakening, as homes need to be very aggressively priced to sell quickly in this market. My advise to you would be to get your house on the market as soon as possible, to allow enough time to get it sold, closed, and time for you to find a new home in time to take advantage of the credit.

It is a myth that homes don’t sell in the winter, they most certainly do, as a matter of fact, more times than not, my best month of the year has come in March, due to the activity that commonly increases at the first of the year. Below are some reasons why this may be the perfect time to have your house on the market. Read through this list, and if you are considering a move and want to take advantage of the new tax credit, don’t wait until spring, call your Realtor today.

Remember….”The early bird gets the worm”, and in this case….the cash!

________________________________________________________

10 Reasons To List Your Home During The Winter

by Jim Remley, Pro Performer Seminars

1. Fewer Showings-Yes there are less buyers, but those buyers that are

left are usually very serious about making a purchase.

2. Less Competition-Most people wait until spring and summer to list

their home, which means during the fall and winter you will have far

less competition than at any other time of the year.

3. Homes Show Better During the Holidays-Buyers love homes that can

tell a story. The holidays are a great time to show homes because the

home is usually dressed up for the holiday celebrations!

4. January is the Biggest Transfer Month-Did you know that more

corporate moves happen during January than at any other time of the

year? This may be a great reason to list your home now.

5. Timing-By putting the home on the market during the winter you

may be able to more easily hit your moving goals!

6. More Time To Get Top Dollar-By starting to market your home early

you may be able to secure a higher price.

7. Great Time To Shop-If your home sells quickly you will be able to

shop for your next home during the winter, this is a great time to find

a bargain!

8. More Advertising-Because most agents and offices have less inventory

during the winter your home may be advertised more often than

during the spring and summer months!

9. More Attention-Most agents will be able to devote more specialized

attention to your needs during the winter because they have less

clients to manage.

10.The Market-Today’s interest rates are at forty year lows. This gives

buyers more spending power, and will be even more important when

you begin shopping for your next home!

New investors in the rental market beware – Fair Housing Complaints are on the rise!

Randy Poll (Greenridge Realty Inc.) — Wed, 16 Sep 2009 15:02:16 -0700

https://randypoll.wordpress.com/