Julia's Blog

Here we go again!

Julia Paul (Pahoa Properties LLC) — Wed, 29 Oct 2008 15:05:37 -0500

As we finish out 2008 alot or Realtors are going to question their ability to stay in the business. You know the saying 20% of the Realtors do 80% of the business. The question then becomes ....are you one of the 20%? Having been in the business over 26 years I have seen more than than one cycle. With the current economy we are going to see more Realtors go inactive which has its good and bad aspects. The high side is that there will be more business for those Realtors that stay active and the negative aspect is that costs will go up as we have less members of our Realtor Boards. As always there are trade offs. One thing I have noticed is that in the down market we seem to obtain a higher level of professionalism...this is a good thing. It is a great time to try out new marketing ideas, further your education and my personal favorite...travel. NAR as well as CRS, ABR and other designation programs are so extensive that we can pretty much go anywhere in the United States and find a class to attend. Not only does this give us an opportunity to perfect our skills but it also provides a great opportunity to network. I look forward to a stregthening market and in the meantime I will enjoy the calm before the storm and do all those things I have not had time for. See you out in the world...let's do some business together and raise the standards of professionalism while we are at it. A hui ho from the Big Island, the home of aloha!

Pacific Rim Conference

Julia Paul (Pahoa Properties LLC) — Wed, 01 Oct 2008 15:10:46 -0500

Having just recently returned from the Pac Rim conference held on the Big Island of Hawaii (The Big Eye) I have to say I was amazed that it wasn't better attended. This was a great opportunity for Realtors on the Big Island to attend a conference that did not require getting on a plane. This conference is only held every other year and is specific to issues in the Pacific Rim area, as well as marketing and professionalism in the real estate arena. There were many excellent presenters and a wealth of information. I could not write fast enough. This conference provided a wonderful opportunity to network with agents from other islands and to meet the President of HAR and members of the the State of Hawaii Real Estate Commission. There was also a trade show during the conference where you had a chance to explore new business building products and services.

One of the most talked about presentations was the panel on Friday morning that was opened by Richie Richardson, the president of Hawaii Association of Realtors. The panel discussed the recently passed ACT 137 also known as "Mortgage Rescue Fraud Prevention Act" dealing with Distressed Properties and how to avoid becoming a "Distressed Property Consultant". This is a fairly large issue considering the amount of short sale and distressed properties currently in our market place. For those of you who were unable to attend I encourage you to become more informed about this new bill and the impact it has on your current business. Until this new bill is amended to exempt Realtors and CPA's there will be trouble on the horizon as we can no longer provide servicing to our customers once their home is considered a "distressed property" without taking on much greater liability. It is a very fine line as to staying on the right side of this Bill without the much needed amendment. For those of you wanting more information, you can contact your local Board, speak with your in-house attorney and/or attend a presentation regarding the Act as well as consult your Principal Broker to find out what your office policy is regarding this Act. Don't get caught with your pants down as this is an issue that will not be going away anytime soon.

A special note of appreciation to Central Pacific Home Loans and their gang for the cocktail party and hospitality suite they so generously provided for all to come and enjoy. You are much appreciated!

CRS Wealth Building Class with Chris Byrd

Julia Paul (Pahoa Properties LLC) — Wed, 01 Oct 2008 14:29:53 -0500

Wow! What a powerful class. Again, I can not tell you enough how valuable the Courses that CRS provide their members. The people you meet, the course material and the instructors are first class. Each time I attend another class I am reminded about the value of continuing education and what means to me and my business. What I have learned is that marketing is very important but it is no substitute for education! I wish someone had taken the time early on in my career to share with me the value of becoming a Certified Residential Specialist. To me, this designation represents a level of professionalism obtained and the ability to be on the leading edge of real estate and hang with the "Big Dogs". I want to thank all the members of the class that I recently attended for their great participation and for being a part of my learning experience. It is truly a pleasure to be among other professionals who are upping their level of standards and practices and who appreciate the heights to which we all aspire to. We are all winners!

NAR Convention 2007 Las Vegas

Julia Paul (Pahoa Properties LLC) — Fri, 30 Nov 2007 15:26:11 -0600

Wow! Was there ever alot of Realtors in one place! I was told there were 30,000 Realtors in attendance this year and over 300 from Hawaii alone. I think a lot of people thought Las Vegas was a good venue. One of the 1st things to happen once we arrived in Vegas was the implosion of the Frontier Hotel. We stayed about a half a mile away and could hear the fireworks that were set off prior to the implosion and it was covered live by the local TV stations. This happened at 2:30 a.m. I spoke to one Realtor that was staying at the Venentian who said she didn't go to bed until 1 a.m. and did not hear a thing!!!! Another interesting event was held at the University of Las Vegas where they had all the Democrats running for office. This too, was broadcast on the local stations for all to see.

The convention itself had so much informative classes, seminars and opportunities to network. I met some really interesting people and it was great to hear how other Realtors do business and what is happening in their markets. I can hardly believe you can still buy a house in some parts of the country for $10,000.

My daughter, Shelley and I took the "At Home With Diversity" class and it was very informative and well attended. Most states offered continuing education credit for the class and it also qualified as part of the credits required for the CRS designation.

Another interesting aspect of being at the conference was attending with my 20 year old, newly licensed daughter. Most of the attendees looked at her like, what are you doing here...she looks very young and more than likely was one of the youngest attendees. She did not like it when I referred to her as my "exit strategy". I think more and more we will see young adults join their family in the business. I did see some other family teams, father/son and mother/daughter. I think this will be a big edge when we deal with the younger generation as our children are so much more computer literate and in the know (now).

I highly recommend attending the NAR convention and the trade show where you can experience the newest ideas, marketing and affiliate companies that partner with NAR. Next year the conference will be held in Nov. in Orlando, Fla. Hope to see you there!

A "WOW" CRS Class in Hawaii

Julia Paul (Pahoa Properties LLC) — Sun, 28 Oct 2007 15:15:19 -0500

I have just returned from a CRS class on Maui that was on Listings. It is one of the core classes offered by CRS and was taught by the powerhouse, Jackie Leavenworth. Talk about a "house on fire" she is the bomb! This class has to be one of the best courses I have ever attended. Not only was the instructor incredibly knowledgeable and the material excellent but the other attendees were absolutely too much fun.

Our class had a gentleman from Boston and another from Toronto, a lot of Realtors from Oahu and Maui and a few from the Big Island and we all learned that we can sing and we are never too old to cut loose. There was a brand new agent in the class as well as CRS graduates which made for a great mix. The way Jackie taught the class it allowed for a lot of class interaction and sharing. The pace was very fast, the ideas great and perfect for networking.

I highly recommend the CRS classes for those who want to build their business and be on the leading edge. The ideas and information are invaluable. Just so you know the CRS Sellabration will be held on Oahu at the beginning of 2008 and hey...nothing wrong with vacationing in Hawaii and having the opportunity to network with other Realtors in the land of Aloha! Hope to see you there and I look forward to having the chance to meet with all of you in person.

A hui ho (until we meet again)!

NAR convention

Julia Paul (Pahoa Properties LLC) — Tue, 16 Oct 2007 14:20:42 -0500

I will be attending the NAR convention in Las Vegas in November as a first timer. I am excited about attending and I am looking forward to meeting other Realtors. I am planning on taking the course on diversity. This course will give me another unit towards my CRS designation. I think the trade show will be very beneficial as well. There is alot to choose from as far as classes etc. I would be open to any advice or comments regarding the conference from those of you that attend regularly. Thank you in advance!

Continuation of Online Continuing Education

Julia Paul (Pahoa Properties LLC) — Fri, 12 Oct 2007 13:32:20 -0500

One of the reasons I took the ABR class online is my desire to obtain my Certified Residential Specialist designation. I took the online course through Realtor University. The completion of the ABR class and its elective count as 2 units for towards the CRS requirements.

I recently attended a 2 day CRS course on building a referral based business. Not only was the class full of valuable information, such as blogging on Active Rain but I truly enjoyed meeting Realtors from the other islands and the exchange of ideas-just like the forum online but LIVE. At this class we were told that only 5% of the Realtors in the U.S. have their CRS designation.

I am planning on attending another two day CRS class on Maui in two weeks. Each of the two day classes are worth 2 units and once I complete the course on Listings on Maui I will only need 2 more units. Guess what? There are 2 online electives that are worth 1 unit each that can be taken online for CRS. If I choose to do take these 2 courses I will have earned bith my ABR and CRS desigantions in a period of 2 months. My other choice is to attend the NAR conference in Las Vegas and attend the class on Diversity or attend the CRS Sellabration in Honolulu in 2008.

What I have come to realize is that the designations aren't so important as the networking and referrals that come with affiliating with other up and coming Realtors who see the value in investing in their greatest asset...THEMSELVES.

And all because another Realtor needled me for having been a Broker for so long and not having any designations. Thank you, Arabel! Stay tuned and I will let you know how the next CRS class is.

Online Continuing Education

Julia Paul (Pahoa Properties LLC) — Thu, 11 Oct 2007 16:20:12 -0500

Since attending my first CRS class I decided to obtain my Accredited Buyer's Rep. designation. Since the course was not being offered at this time I decided to do the class online. As most of you know it is a two day class and also requires an elective course that is 6 hours. These two classes were the first online classes I have taken and I want to say I really enjoyed them.

I learn best by reading so for me it was very convenient to sit down in front of my computer and have at it. My mind in the afternoon becomes tired and sleepy after lunch so this way I could take the course when it was best for me and on my schedule. I am thinking it doesn't get better than this....

The way the course is set up is in units. It is easy to scroll through and take notes although you really did not need to take notes for the ABR class as they are included and easy to print out. I found the information to be very valuable and I think it is a great format. One of the things that you do as part of the class is participate in a forum where everyone shares their ideas and answers to questions about the material being presented and what is so cool is that they are Realtors from all over the United States and a few were out of the country. I got to see the differences, state to state how agents do real estate in their area.

All in all, I think these classes and the format bring alot of value to the table and are a great way to continue olr education and knowledge of real estate and the beauty ot it is the avaiability of the information and ease in completing the courses. I highly recommend online classes as another way to sharpen skills and get exposure to new ways of doing business and other creative ideas.

The Cost of Living in Paradise-Part 2 Big Island

Julia Paul (Pahoa Properties LLC) — Thu, 13 Sep 2007 14:33:35 -0500

Self-sufficient, not yet, too late...not really! Continuing on in the same vein as my last blog, it can never be too late to prepare but I personally feel very strongly that the time is now. We need to recognise, as islanders the need to produce more of our own food and have less dependency on the mainland for our needs. I don't mean corn for ethanol either...I mean real food. I was reading the other day that we have only enough food on island (Big Island) for 5 days. Are they for real? Probably...I think as a State we need to develope a plan to support more local farming, a plan to reduce dependency and be prepared as a Sate to feed our residents. What needs to happen here to plant the seeds of our future sustainability?

The Cost of Living in Paradise- Big Island

Julia Paul (Pahoa Properties LLC) — Wed, 12 Sep 2007 13:50:57 -0500

Recently on the Big Island and more specially Pahoa there has been alot of discussion about recent lava flows and the potential of those flows reaching the town of Pahoa and/or other surrounding areas. Those of us living in the Puna area consider ourselves Punatics and all good Punatics have an opinion and more likely than not they will be happy to share it with you as I am now.

I am of the opinion that the current lava flows will not reach Pahoa anytime soon, however as a leader in the community I have a "respond-ability" to be available to others in a time of emergency. Our communities look to us for advice, guidance and assistance and we need to be available to assist as needed. This brings me to the point of this dialoge--the need for all of us to be prepared.

Living in Hawaii, no matter what location, we all need to be prepared, prepared with extra food, gasoline, cash, medicines, flashlights, candles, dog food, first aid kit, water etc. As we say in Hawaii...no wait..till the last minute..do it now! You never know, whether its lava, high winds, rain, tsunami, we have them all!

It is all a part of paradise and can be costly if we are unprepared.

Mortgage Meltdown and what it means in today's Marketplace

Julia Paul (Pahoa Properties LLC) — Mon, 10 Sep 2007 20:46:33 -0500

What is a mortgage meltdown? A number of factors has led to a crisis in the way we do loans and loan availability which has in turn led to a tightening in credit standards by lenders across the United States and further scrutiny by underwriters nationwide. This is due to the large number of loans that are delinquent and in default.

Nationwide there are close to 1.5 million homes in pre-foreclosure. There are another 800,000 homes set for auction and 1.2 million that have already gone back to the lenders. The foreclosures are double to date this year from 2006.

What this means: There will be less buyers due to an inability to get loans.Sub prime loans will no longer be available and no documentation loans will be fewer and fewer. Another effect we will be experiencing is that jumbo loans (those in the amount of $600,000 and higher) are getting harder for lenders to place and therefore more difficult for buyers to obtain.

The bottom line: Sellers will need to become more realistic when pricing their homes to sell, taking into account that increased foreclosures can depress the local market and value, flooding the market which could further drive down the values of their homes. If you, as a seller are not seeing activity on your current listing it may be time to get serious and do a major evaluation of the true value of your property in today's market and reduce your asking price, otherwise you could be sitting on your home for another 1 to 2 years.

Look for pre-qualification letters with any offers! And remember that VA and FHA loans are still available and with these type loans buyers are required to provide full asset and income documentation.