market value: REAL ESTATE PROSPERITY & INSANITY?
- 07/26/22 09:08 AM
A developer team of which I was a part of visited a small city of about 300k people. Our intention was to scout out potential land for assemblage to build gated communities something that was in demand then as well as now. Opportunities abounded and so did some pretty interesting Real Estate tales. Here is some of them
HOW IT WORKED
We would check the General Plan of the city, its zoning and see where we could do variances or zone changes. This required much work and communications with lots of meetings. Then, once established that we can go forward, now to look … (14 comments)
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market value: TOP DOLLAR DYNAMICS (real estate theme)
- 03/21/19 07:25 AM
Money makes the world not only go round but is one of the necessities of life. We learn this very early on and train ourselves to be a person that looks for opportunities. Using the dynamic of one thing leads to another, we finally come across our success and it tastes sweet so much so we want more of it. This is expected. However, something comes to interfere with it all...
GREED ON THE HUNT!
This is a subjective dynamic to be sure and if you strive for one penny more than you know you shouldn't have or want or to go about it … (26 comments)
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market value: WHERE IS YOUR AGENT?
- 10/14/17 12:31 PM
I have a neighbor that listed their house with another agent. It's awkward since we both know each other and I finally wished him well the evening I saw the Realtors sign go up. I have come to understand that many people have friends, relatives & associates that they go to first. So be it. At times, I am that man too
TWO DAYS LATER
My neighbor comes over to talk and share and expresses to me his concern. We don't know if the house is priced right. What? Now I knew the pricing for the area and remarked to him that it is a bit under priced … (17 comments)
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market value: WILL YOU TAKE DOUBLE FOR YOUR HOME?
- 10/23/16 12:14 AM
Real Estate is a vast and interesting subject only because of the people involved and how it affects them. Of course the large amounts of money make it important to all involved. As an agent, there are so many categories of Real Estate to practice. One of the many tasks, practices or services that an agent can take on in Real Estate is to assemble land or parcels for subdivisions for a developer
I AM THAT AGENT
Here is the scenario. You have a home on a large parcel of land in an area of like kind parcels that is not being put to its … (4 comments)
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market value: YOU DONT HAVE TO SELL?
- 09/15/15 12:36 AM
What a mixed message that can turn into being. You want to sell but you don't? I am speaking of the seller, who is well positioned, has equity and will sell if and when they get everything they want. The highest price obtainable, little or no repairs and escrow closes when convenient for them.
NO WAY?
If a buyer took that attitude, nothing would be bought. I will buy when I feel like it, take my price or leave it and I want things fixed up to or no deal. These extremes are not business in nature but instead, my way or the highway … (6 comments)
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market value: LENDERS CALL THE SHOTS
- 06/09/15 11:49 PM
When I was doing secondary financing or hard money loans, my training when appraising a property value was not only ultra-conservative but way in favor ( nearly one-sided) toward the lending source. WHY? Because hard money dynamics say that when something goes wrong, the source makes their money back guaranteed with no if's and or buts.
HARD $.... MEANS WHAT IT SAYS
The business plan for a hard money lender provides for all worse case scenarios including, default, bankruptcy, acts of God or man and economic downturns which have the final say. The hard money lender does not use the current market conditions as the moving factor to lend. It … (7 comments)
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market value: WHAT GOES TOO FAR UP MUST COME DOWN
- 04/16/15 11:32 PM
I just had recently had a sellers "high" session which is a pun too. The thrill of selling the home and getting top dollar by cashing in on equity and appreciation is not to be understated. I get it! I want everyone to maximize their returns when it comes time to sell. Let's spend more time on how to do this please instead of just dreaming about it. No shooting from the hip either. Read on...
THE PLANS TO SELL
He who has the gold rules? This procedure is where the seller takes a stand on take it or leave it. Fine if people … (6 comments)
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market value: REAL ESTATE HOW IT IS SUPPOSE TO WORK
- 03/03/15 12:12 AM
In Real Estate, a team of people come together to accomplish a major move (pun) in the form of a transaction to either purchase or sell Real Estate. Hundreds of thousands of dollars (or more) are involved and everyone has the highest expectations as to best outcomes. However, someone has to stay objective and reality based
STAY CENTERED
You see, dreaming and hoping works well and is to be respected but when we are trying to achieve a result, then we must consult with the truth in the moment or also known as reality. I even invite and allow for "wild cards", the unknowns to make … (17 comments)
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market value: CAN YOU BUY YOUR HOUSE BACK?
- 11/25/14 11:55 PM
I am reading where a bank is allowing a couple to buy their foreclosed house back at current market value. They paid close to $400,000 dollars during the great hype and marketing campaign to buy now, you will be approved and don't worry about anything. So, they did. Today, it is worth $180,000 dollars
OKAY..YOU CAN HAVE IT BACK?
Alright says the bank. We have all these foreclosures and they are in a bad state of repairs sitting some boarded up and others just vandalized with the different cities fining us and we are over-whelmed with non-performing assets. If no one wants to keep their … (13 comments)
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market value: WHAT IF YOU ARE WRONG ON PRICING?
- 07/28/14 12:50 AM
We all know that when a seller of a piece of Real Estate wants to move the product and cash out, wanting top dollar is expected even reasonable and a good selling agent will see to it that the sellers position is optimized. Fiduciary makes it the agents job to see to it that the clients expectations are carried out. But what if the price that the seller wants is too high or not in line with the market?
IF THE SELLER INSISTS
The first few days out there should tell the story. Yes, there is a risk of losing people who know value and want to … (10 comments)
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market value: WE ARE SAFELY WITHIN THE REAL ESTATE CYCLE
- 03/09/14 11:56 PM
This is it. Real Estate and what it does. People are buying, selling and investing and a new predictable cycle of Real Estate is in play. How long an opportunity lasts none of us know for sure. Now is the time to assess and then either get in or get out
THE MARKET
I visited an old familiar neighborhood where homes are now going for $700 and above. There was a time where it hovered in the $300 range for years and then it shot up and stayed up and held. Who would know these things with certainty?
GETTING IN
We don't … (19 comments)
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market value: REAL ESTATE ITS LIKE GETTING ON OR OFF THE FREEWAY
- 02/20/14 08:57 AM
Selling or buying Real Estate? Prepare to pick up the speeds as we approach and then enter the freeway on ramp. There can be no hesitation or stopping let alone turning around. We now have to up our speed and merge into the flow of the market place (freeway)
THE BUYING OR SELLING SPEED LIMIT
This is the common ground or meeting place of activity for those that are navigating to exchange goods and services and is just that. In Real Estate we call it the market place. In this market, the rules of the road include being FAIR as in fair market value … (4 comments)
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market value: PRICING AT OR BELOW MARKET VALUE
- 01/06/14 11:13 PM
This may be the time to put this marketing strategy to work effectively. I have used it over the years and it gives different results depending on the supply & demand at the time. However now is a that time to activate this and get good results on both ends of the transaction
TAKING ANYTHING FOR GRANTED
Anyone who has been around a while learns about the famous saying..."In life, there are no guarantees". That means that tomorrow is just an expression not a promise and we take it for granted that it will come. So it is with anything too. Now … (9 comments)
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market value: REAL ESTATE FLIPPING WAS CASUAL...at first
- 02/13/13 12:30 AM
Remember about 7 years ago right before the foreclosure nonsense reared its ugly head, teams of investors where like ants all over a picnic making moves to buy and then sell for a quick profit. Wall street disappointed them and Real Estate beckoned. In new construction it wasn't uncommon to have one buyer buy 1-5 units, negotiate a hard bargain and then close them only to resell them as quickly as they could
THE BEGINNING OF THE CRASH
Then the foreclosures and defaults started and people saw Real Estate values starting to crumble right before their eyes. It was then that … (4 comments)
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market value: SOBERING UNEMPLOYMENT STATS USING SIMPLE MATH
- 09/03/12 03:58 AM
I read something the other day that caught my interest. I t was presented so that ones common sense can be applied. From there, each person can draw the point trying to be made. When using math to make points, it is harder to dispute and easier to verify. This presentation on UNEMPLOYMENT was presented using math
SIMPLE ENOUGH MATH
In order for the unemployment figures to return to their 4, 5 and 6% ranges, which by the way are considered good, robust and healthy for us as an economy, 250,000 jobs would have to be filled every month for the … (11 comments)
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market value: MARKET VALUE OR LOAN VALUE WHICH ONE IS IT
- 04/02/12 02:47 AM
I am okay with that except when it clashes with the fair market value and recent comps. Then, the contract to purchase comes under question too. Which value is it? The contract price which was based on CMA and current activity or the conservative method with special instructions to err on the side of the lender?
WORST CASE SCENARIO THINKING is not true market value
I hope we are not going into a compensation mode. You know when you go from one extreme to another instead of finding the balance. Compensating for what might happen if things go wrong does not honor CURRENT FAIR … (0 comments)
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market value: WHEN I SEE AN OVERPRICED HOME I THINK
- 03/25/12 01:15 AM
The first thing that goes through my mind is not to waste any time on it. Then, I wonder if the agent was bullied goaded or desperate into doing it. Furthermore, a faint thought of what makes this so special does cross my mind. However, if that was true, then the second thing after the price would be that feature or reason
IF ITS GREED...YOU ARE OUTED
Tell me you have an oil lease. How about a valuable easement in your properties favor? The entire house is in perfect condition with upgrades $$$. Seller is including a car, furniture, gold plated faucets … (6 comments)
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market value: WHEN YOU HIRE PROFESSIONAL HELP LISTEN TO WHAT THEY TELL YOU
- 02/09/12 03:52 AM
I knew a man once who would hire attorneys and then argue with them all the time. I have heard more than one attorney state that what is the point of hiring me if you don't listen to what I tell you? When a professional is on board, their opinion is not just conversation...So it is with Real Estate agents. Smart sellers listen to their agents. Then, performance follows
AGENTS HAVE SAVVY
If you have been in the business any length of time, you have acquired data and information that in a court of law qualifies you to be considered an … (6 comments)
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market value: SPLIT THE BABY OR KEEP IT WHOLE SELLING SHORT
- 01/16/12 03:36 AM
I have a short sale in my neck of the woods which means it is going to be handled efficiently. Why? I know my areas, product and act accordingly. However, the bank called in a BPO and it came back higher than what is happening in my neck of the woods. To complicate it further, my negotiator likes playing Helen Keller
LITTLE COMMUNICATION IS THE STRATEGY?
I cannot get a word of acknowledgment, encouragement, guidance or input just NO every-time I submit an offer. However, I had a major breakthrough when this latest BPO came in. The bank while insisting this … (2 comments)
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market value: SHORT SALE PRICING IS YOUR RESPONSIBILITY
- 01/06/12 03:56 AM
I have been doing short sales for years now. When this was first introduced to us all, we, without knowing it entered a giant learning curve sparing no one. Banks, lenders, investors, buyers, sellers and agents all had to hit the ground running and learn as you go too. One thing stood out and became very apparent and that was pricing to sell
WHAT IS OWED WAS A DOMINATE FACTOR
It was confusing on what to list the property for when short sales first revealed themselves. You see the investors, banks and lenders wanted to recapture as much money as they … (2 comments)
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A developer team of which I was a part of visited a small city of about 300k people. Our intention was to scout out potential land for assemblage to build gated communities something that was in demand then as well as now. Opportunities abounded and so did some pretty interesting Real Estate tales. Here is some of them
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