Rod's Blog

Will the election release the buyers?

Rod Rich - Atlanta- Associate Broker (RE/MAX of Buckhead @ Brookhaven) — Mon, 28 Jul 2008 17:05:51 -0500

The General election is putting off home buyers?

Perhaps, let me tell you what I do know. It reminds me of the real estate market here in Atlanta just prior to the 1996 Olympics. So many people said the prices are inflated. (yea right). I for one knew that the local home prices were well below other major metropolitan areas.

Well the games came and went and nothing happened to the home price. No bottom falling out. I say nothing happened, well nothing bad happened. The dam broke and all those fence riding buyer got tired of waiting. They came in groves and they bought and bought. From late 1996-spring of 2000 it was like a feeding frenzy. Go figure the prices went up. Some areas as much as 20%+. The days of Milk and honey. It all lasted until the Dot com crash in spring 2000.

Point is people create their own dead lines and when these dates are reached they get on with their plans to move and buy real estate.

Nearly 1/2 of all home buyers (44 percent) believe the housing market will improve once the new President takes office in January, 2009, according to a new survey conducted by Harris Interactive and commissioned by Move, Inc.

So do I.

Dog Days of Summer......

Rod Rich - Atlanta- Associate Broker (RE/MAX of Buckhead @ Brookhaven) — Thu, 10 Jul 2008 07:33:18 -0500

"Hot town, summer in the city
Back of my neck getting dirty and gritty
Been down, isn't it a pity
Doesn't seem to be a shadow in the city"

-Lovin Spoonful-

Well, the proverbial Dog Daze are here, at least here in the Atlanta Real Estate market . Seems every one's batteries run out by mid-afternoon. Transitioning from air conditioned office to sweltering parking lot to even hotter car to air conditioned car, Whew. To say it is taxing on ones body is a understatement. Productivity is effected, attitudes are effected.

My question for those in the Sun Belt, how much does it effect your local real estate market? Do you find clients passing on going to see homes either after work or anytime past noon on Saturday? Or worse are your clients leaving town to go to the mountains or some place cooler instead of looking at the largest pool of available homes for sale, known to man?

How do you cope?

Perhaps you are selling in these cooler 2nd home markets, how's business?

It's July, time to take inventory and make adjustments for 2008 part 2

Rod Rich - Atlanta- Associate Broker (RE/MAX of Buckhead @ Brookhaven) — Mon, 07 Jul 2008 06:39:55 -0500

Wow, Can you believe it is the halfway point for 2008? I hope some of you are on track. Fact is many agents I know spent the first part of this year getting educated on the many changes that have happened in this business.

Short Sales, REOs and bargain hunting buyers seem to be the theme, at least as I see it.

If you are experiencing something very different, I'd like to hear about it.

Well enough reminiscing. What about the future? What are you going to do the second part of this all so challenging year? The same stuff? More of the same stuff? Chase FSBOs or expired?

Well I can tell you one prediction that won't work, at least not well. That is, waiting for the market to change. All the prognosticators in the media can't tell us when the market will turn.

Well what ever you do:

* take time to take inventory

* come up with a plan and stick with it.

* Waiting for the market is not a plan.

Suburbs reduced to slums...?

Rod Rich - Atlanta- Associate Broker (RE/MAX of Buckhead @ Brookhaven) — Fri, 20 Jun 2008 09:34:07 -0500

I was sent the article from an associate. Although a bit alarmist, perhaps there is some truth to it.:

Is America's suburban dream collapsing into a nightmare?

Some excerts that I find interesting:

"This change can be witnessed in places like Atlanta, Georgia, Detroit, Michigan, and Dallas, Texas, said Leinberger, where once rundown downtowns are being revitalized by well-educated, young professionals who have no desire to live in a detached single family home typical of a suburbia where life is often centered around long commutes and cars."

Well there is a definite trend to bring people intown. Gas isn't getting any cheaper.

"The so-called McMansion, he said, will become the new multi-family home for the poor."

I'm not so sure about this one.

"they are looking for what Leinberger calls "walkable urbanism" -- both small communities and big cities characterized by efficient mass transit systems and high density developments enabling residents to walk virtually everywhere for everything -- from home to work to restaurants to movie theaters."

Sound like small town USA. Nothing wrong with that.

What do you think?

Increase in Mortage Appications.... Bring it on!!!

Rod Rich - Atlanta- Associate Broker (RE/MAX of Buckhead @ Brookhaven) — Fri, 13 Jun 2008 09:36:36 -0500

Source: The Truth About Mortgage.com News Update; June 11, 2008.

"Mortgage volume increased for the first time in about a month thanks to strong gains across all loan types, the Mortgage Bankers Association said today.

The application index increased 10.9 percent on a seasonally adjusted basis for the week ending June 6, and was up 23 percent on an unadjusted basis compared to one week earlier.

However, application volume was still 16.5 percent below levels seen during the same week a year ago, much thanks to a recent slide that left activity at pre-boom levels.

The latest surge was led by a 17 percent jump in FHA loans, a 12.8 percent increase in purchase activity, and an 8.4 percent increase in refinance loans.

Despite the increase in refinance apps, the refinance share of activity dipped to just 39.8 percent from 40.6 percent.

Interest rates were no help either, with the traditional 30-year fixed-rate mortgage rising to 6.24 percent from 6.17 percent.

The 15-year also worsened, climbing to 5.78 percent from 5.7 percent a week earlier, as mortgage points increased on both products by six basis points to 1.12 percent on average.

Interestingly, the ARM share of total applications increased to 10.3 percent from 8.7 percent, despite the fact that the one-year adjustable-rate mortgage climbed to 6.87 percent from 6.8 percent a week earlier."

The market's turning are you ready?

Easy way to save on GAS...

Rod Rich - Atlanta- Associate Broker (RE/MAX of Buckhead @ Brookhaven) — Wed, 11 Jun 2008 10:59:31 -0500

All this talk of where gas prices are headed and who is at fault and who can solve this problem that effects us all. Well one thing is quite certain, most of us, especially real estate agent can do on simple and easy thing that will see instant results.

What might that be?

Well, get that junk out of the trunk! Think about it. Especially all you Realtors©, you know you have signs, or lock-boxes or New Homes Data books, some junk that is adding weight and reducing your MPG. Heck, you probably have stuff in your back seat. All this weight counts.

I know you thought it was going to be some gimmick or product but aren't you glad it is something that you can do?

Old World Mediterranean styled two-story stucco

Rod Rich - Atlanta- Associate Broker (RE/MAX of Buckhead @ Brookhaven) — Tue, 03 Jun 2008 13:17:00 -0500

Don't miss this Mediterranean styled two-story stucco home built in 1950. Conveniently located inside 285 in the Riverside Community in Atlanta, you're minutes from the city. Many new housing/retail developments in progress, including parks & pathways - this is a secure investment. Contact Rod Rich with Re/Max of Buckhead at 404-713-4019 or rodrich.com.

PHOTOS & Map! http://web.mac.com/karlkaiser/2681_House_for_Sale/2681_W_Main_St.html

Try this....No really do

Rod Rich - Atlanta- Associate Broker (RE/MAX of Buckhead @ Brookhaven) — Sun, 25 May 2008 10:51:02 -0500

YOUR AGE BY DINER & RESTAURANT MATH

DON'T CHEAT BY SCROLLING DOWN FIRST!

It takes less than a minute. Work this out as you read .

Be sure you don't read the bottom until you've worked it out!

This is not one of those waste of time things, it's fun .

1. First of all, pick the number of times a week that you would like to go out to eat. (more than once but less than 10)

2. Multiply this number by 2 (just to be bold)

3. Add 5

4. Multiply it by 50

5. If you have already had your birthday this year add 1758...

If you haven't, add 1757.

6. Now subtract the four digit year that you were born.

You should have a three digit number
The first digit of this was your original number. (I.e., How many times you want to go out to restaurants in a week.)
The next two numbers are
YOUR AGE ! ------ (Oh YES, it is!)

THIS IS THE ONLY YEAR (2008) IT WILL EVER WORK, SO SPREAD IT AROUND WHILE IT LASTS!

.1 Postage Increase

Rod Rich - Atlanta- Associate Broker (RE/MAX of Buckhead @ Brookhaven) — Mon, 12 May 2008 15:32:11 -0500

My letter to my Clients:

"The most interesting thing about a postage stamp is the persistence with which it sticks to its job. "
Napoleon Hill

Dear Friend:

As you are probably well aware, Stamps Increasing by One Cent to 42¢ on May 12. Although many of you probably pay your bills online, the Postal Service provides a service that we must utilize from time to time.

Realizing that your time is valuable and you have more important things to do, enclosed in this letter, dutifully transported by the USPS, you will find several .1 cent stamps. This is designed to save you time and money in several different ways. Before you run out and buy these new .42 cent stamps and feel inclined to throw away all of your old stamps, you can just use them in conjunction with the .1 cent stamps in order to make sure your snail mail is delivered. Also, before you forget and are forced to use two .41 cent stamps in order to send your mail, this creates a great savings and effectively doubles the amount of letters you can send. For those of you that were planning to rush out to buy .1 cent stamps, this absolves you of having to go to the post office and stand in the now ridiculously long line. Trust me, I just did.

Hopefully this small gesture has just saved you some time, money and helped the environment by keeping your car off the road.

Sincerely,

Rod Rich
Associate Broker
RE/MAX of Buckhead
404-713-4019

Oh, by the Way... if you know of someone who would appreciate the level of service I provide, please call me with their name and business number, and I'll be happy to follow up and take great care of them.

Daughter's school bus burns...... to the ground

Rod Rich - Atlanta- Associate Broker (RE/MAX of Buckhead @ Brookhaven) — Fri, 28 Mar 2008 05:51:26 -0500

The event that dominated my afternoon and evening:

ATLANTA -- An Atlanta Public Schools bus went up in flames Thursday afternoon, but all 40 students aboard escaped without injury.

"The bus driver told WSB-TV Channel 2 reporter John Bachman that he smelled smoke coming from the vehicle just after 3 p.m.

He said he pulled over on Chateaugay Lane in northeast Atlanta and ordered the children, first through fifth graders at Sarah Smith Elementary School, to line up and exit the bus as quickly as possible. They all got out before the bus burst into flames.

The driver is being called a hero for his quick action.

When parents who heard about the fire rushed to the scene, the bus was a charred hulk.

There's no word yet on what started the fire." Video

Yea, that's my daughter, interviewed. She thinks she is now famous. Lol. I just thank God everyone got out in time.

Good Friday..... How will you spend it?

Rod Rich - Atlanta- Associate Broker (RE/MAX of Buckhead @ Brookhaven) — Fri, 21 Mar 2008 07:19:36 -0500

Hope this post find all in good spirits. As I sip coffee and watch what appears to be the start of a beautiful day, I'm contemplating the meaning of today, Good Friday. There are a few things that I have scheduled but for the most part my agenda is open as it often is on Fridays.

I guess the real question here is, what to do on what is one of the most important of Christian holidays. it would be easy to turn it into just another day in the grind that this week has been. The current state of the local real estate market seems so minor in the grand scheme.

No, I think I will take this day and continue to reflect and appreciate all that this world is.

What do you have planed for Good Friday?

Winston Churchill Cigar by Davidoff

Rod Rich - Atlanta- Associate Broker (RE/MAX of Buckhead @ Brookhaven) — Thu, 20 Mar 2008 11:02:38 -0500

Yesterday my buddy Steve the Davioff Rep. turned me on to the latest offering from the house that Zino built, Davidoff of Geneva. A very well constructed (would you expect anything less) medium body Dominican. The Winston Churchill is the first non-Davidoff-branded cigar to be made at the Cigars Davidoff factory in the Dominican Republic. The factory is a mile down the road from my buddy Eddies E. Zarzuela factory. This cigar is rolled from full Cuban seed tobacco . The tobacco in the Winston Churchill is from the Dominican Republic, Peru and Nicaragua, and wrapper is Ecuadoran sun-grown.

Named after the world's most famous cigar icon, the project was a collaboration between Sir Winston's grandson Winston S. Churchill and Davidoff. Can you imagine the Licensing agreement on that one?

If you enjoy a complex medium body cigar I would recomend you try it.

The importance of a Professional Home Stagger...

Rod Rich - Atlanta- Associate Broker (RE/MAX of Buckhead @ Brookhaven) — Wed, 12 Mar 2008 11:36:03 -0500

Caravanning, I'm not sure if this activity is the same in all markets. Here in in-town Atlanta agents invite other agents to come and preview their new listings. Feedback and comments are exchanged it all works like sort of an agent Open House. It's probably the same or similar everywhere.

Well I for one am a big Caravanner. I think it is one of the best ways to keep up on pricing, neighborhood trends and network with fellow agents. I mark my calender for every Tuesday to send 3 hours sharpening my tool. In the city there are many big wonderful and expensive homes. I enjoy touring these homes, it can be like walking through Architectural Digest.

Well just yesterday I was noticing how many of these high-end homes could really use the services of a Home Staging Service. It is not that the furniture was wrong, it is just that a professional could make these homes really shine. In a market where it pays to "rise above the crowd". Home Staging is a service that should never be overlooked.

The world could use more Smoke shops....

Rod Rich - Atlanta- Associate Broker (RE/MAX of Buckhead @ Brookhaven) — Mon, 10 Mar 2008 09:54:57 -0500

The cigar shop is an interesting place. People, mostly men, from all walks of life and all cultures and socioeconomic meet to relax, talk and, for lack of a better word bond. All the things in life that prevent us from meeting and getting to know our neighbors seem to be left at the door. I can say that I have had the most interesting conversations with what would have been complete strangers, in my local cigar shop. People from all different experiences, younger people, older guys that are facing some of the same challenges I am going through and guys that have been there done that.

Years ago while parting on the Caribbean island of Bimini, I heard a man refer to "all the rats are in one cage". Well the Cigar shop is like that cage only maybe more of an oasis in a Rat-race. Lol

Best Move-up Market in years...

Rod Rich - Atlanta- Associate Broker (RE/MAX of Buckhead @ Brookhaven) — Tue, 04 Mar 2008 19:14:13 -0600

I keep telling clients, you may take a little less on your home sale but when you are buying up you get an even better deal on your buy. That along with rates in the low fives make for a rare opportunity.

60% of the average homeowner's wealth rests in their home's equity. Homeowners who look at home ownership as a long-term proposition are the homeowners who most reliably build equity. So putting down roots with home ownership can be the most important step in building your financial foundation. Source FMLS

That said, a Move up is a investment and wealth builder and now is a excellent time to increase this part of your portfolio.

Why this is the BEST time of the year to list your home.

Rod Rich - Atlanta- Associate Broker (RE/MAX of Buckhead @ Brookhaven) — Fri, 29 Feb 2008 06:47:21 -0600

As many spring home sellers are painting and primping to get ready for the spring market, spring buyers are already starting to come out. They are starting to cruse neighborhoods, starting to visit open houses. By beating the competition to the market you have a distinct advantage.

In my 14 years of experience, I have found one recurring trend. In weeks to follow, the inventory of homes for sale will continue to grow as we head in to May. Here in the Atlanta real estate market, the spring market starts, at least for buyers as soon as we have sunny weekend weather. Still allot of sellers are fixing up and still getting ready.

If you can get on the market in the early spring late winter weeks, you will get a real jump on your neighbors and hopefully capture those motivated early bird buyers.

Spring starts early...

Rod Rich - Atlanta- Associate Broker (RE/MAX of Buckhead @ Brookhaven) — Fri, 26 Jan 2007 10:40:01 -0600

Spring starts early here in Atlanta, sometimes. But the spring real estate market can start as soon as late Jan. You see if we get a nice weekend the buyers tend to come out and start trolling around in all the hot neighborhoods. The other part of this equasion is that most sellers are still getting ready. Painting, repairing and primping for the season that has aready started.

This said there are fewer sellers and less compitition this time of year. Why wait for all your neighbors to get on the market the sellers are early?

Atlanta houseing market is still strong.

Rod Rich - Atlanta- Associate Broker (RE/MAX of Buckhead @ Brookhaven) — Wed, 24 Jan 2007 15:30:46 -0600

Google the term: "Sky isn't falling in home market" and see how many different stories on the state of the current market in so many different markets. Wonder where these journalist get their stories? Plagiarism? Close. The fact is as with many thing in this "get your news now" world we live in is hat writers are pushed to get the story and they some times get it from each other. And everyone knows, If it bleeds ,it leads.

Unfortunate, these reports do with time effect consumer confidence. Let's hope the "market is good" stories continue this spring. Scary to think that home buying can be so easly influenced.

Words for a New Year.

Rod Rich - Atlanta- Associate Broker (RE/MAX of Buckhead @ Brookhaven) — Tue, 16 Jan 2007 08:09:51 -0600

"If you prepare yourself at every point as well as you can...you will be able to grasp opportunity for broader experience when it appears."

- Eleanor Roosevelt

Current State of the Atlanta Real Estate market

Rod Rich - Atlanta- Associate Broker (RE/MAX of Buckhead @ Brookhaven) — Fri, 24 Nov 2006 20:22:21 -0600

Think about your center of influence for a moment. There is a good chance that a bunch of people in your center of influence went out and got a real estate license in the past couple years. They figured they could get their license to sell their own home or sell a few friends homes and make a few dollars. Well guess what? Those licensees are going away. Did you know there are presently 2.6 million people who hold a license in North America ? 2.6 million! Watch as that number will most likely drop significantly in the coming months.

Also, for the past couple of years, if someone wanted to work and dominate a geographic farm it was very difficult. Why? Because the market was so hot and it was pretty easy to get a home sold, many people would list with friends and neighbors. They were part-timers. And guess what? The market was so good that the properties were selling in spite of who had the listing. As a result, there weren't too many places where one agent was dominating those sales. That also is going away