Rick Schwartz, Realtor e-PRO

A Live Interview - The Sincere Introvert: Sincerity and Vulnerability in the Age of Personal Branding

Rick Schwartz (William Raveis Real Estate) — Thu, 17 Dec 2009 15:38:28 -0600

Jennifer's take on this stuff is dead-on. If you haven't had the chance to read her books or follow her online, take a few minutes and listen to this interview.

Via Jennifer Allan, Author of Sell with Soul (Sell with Soul):

The live show is over - but here's a link to it. I had a great time; hope the audience did, too... there's some good stuff here if I do say so me-self. Thanks Jon!

Hey, if you have a minute (okay, an hour) in the middle of the day today (12:30 eastern), please consider tuning in for my interview on the Introvert Experience with Jon Hansen! He sent me an outline of the program last night and yipes! He has some good questions - ones I've never answered before... some I've never even thought much about.

I better do that - give them some thought, that is.

Below is the promo for the interview. If you want to join us, here's a link to connect: http://www.blogtalkradio.com/jon-hansen/2009/12/16/the-sincere-introvert-sincerity-and-vulnerability-

The Sincere Introvert: Sincerity and Vulnerability in the Age of Personal Branding
As host of the PI Window on Business Show, I have had the opportunity to speak with The Twittering Granny, Canada's Trade Minister, Maine's gubernatorial candidate Matt Jacobson, bestselling authors too numerous to list and industry thought leaders.

Suffice to say each one provided invaluable knowledge, insight and great entertainment for all of us. However, and even with this great constellation of guests, in a world in which personal branding is the key element of building one's profile and establishing an enduring presence, Jennifer Allan caught my attention!

Perhaps it was the fact that she is an admitted introvert? Or maybe it was the simple yet powerful expression of her belief that "the secret of success for real estate agents (Jennifer is a former top producing real estate broker), and other entrepreneurs is not in aggressive marketing techniques or hard-core sales pitches, but rather in being competent in one's craft." A quiet competency if you will that establishes confidence in those with whom she seeks to connect and serve.

A published author, a speaker and a trainer, Jennifer has written five books about the business of selling real estate, including her flagship book: Sell with Soul: Creating an Extraordinary Career in Real Estate without Losing Your Friends, Your Principles or Your Self-Respect.

Jennifer also has a new book that is scheduled for release in early 2010 entitled "If You're Not Having Fun Selling Real Estate, You're Not Doing it Right!"

In the context of the old saying "I can't hear what you are saying because your actions are speaking too loud," I cannot help but think that this champion of the "quiet" brand is perhaps on to something in what is the fast-paced world of social media and social networking.

I am of course pleased to be joined by Jennifer Allan on today's show to talk about her version of building an effective personal brand.

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Tips & Inspirations to Generate Business from the Very Important People Who Know You

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SHIFT by Gary Keller - It's Not About the Market

Rick Schwartz (William Raveis Real Estate) — Thu, 17 Dec 2009 09:42:44 -0600

After loving The Millionaire Real Estate Agent, I grabbed onto SHIFT by Gary Keller when I first heard about it last summer. This would be a great gift for anyone in any kind of sales/marketing career not just in Real Estate. You can purchase a copy here.

There are, obviously, some great specific ideas in there - some of which are nothing more than the ABCs of sales and marketing that have been said for years - but Keller brings them into focus at a time when we need them.

This book is so good in my opinon, you can get something out of it just be reading and thinking about the title - or more specific banner aboce the title.

This phrase speaks volumes not just about the Real Estate business but about just about any business you might be in.

In the early 1980s after spending a few years as Long Distance Operator and a Customer Service Rep with AT&T(or as we used to say "Ma Bell") I was promoted to the position of Account Manager. The team I was on sold Long Distance Services to businesses. In 1984, with the settlement and adjudication of a 15 year Anti-Trust suit against AT&T by MCI and others, all hell broke loose.

By order of the courts, AT&T - now officialy deemed a monopoly since we had 96% of the long distance market - was put in a position that they hoped would reduce our share and thus our hold over the marketplace. Here's what the upshot was.

All communications companies had to file their rate schedule with the FCC. AT&T was given a little bit more responsibility. We were not allowed to discount our rates from the published table. Our competitors were allowed to discount.

So the nutshell was this - We walked into each and every sales situation knowing that we were going to be the highest priced vendor - maybe by as much as 40 - 45%.

So our market changed very dramatically over night. We had two options, learn how to sell our product on value instead of price or - go broke.

Some of us made a ton of money in the next few years - those that didnt' went back to being operators or they jumped shipped and went to work for MCI where they felt comfortable selling based on discounts.

By the time I left AT&T in 1992, the market had shifted 3 or 4 more times based on new technology, increased quaility from our competitors and tons of new regulations. After "the big shift" in 84, those of us that were still there learned how to adapt - even to pre-adapt, in other words plan for the next market shift before it happens.

Same thing here with Keller's book. This particular depreciating market wer'e now in caught a lot of folks off guard. Some have been in the business for many years and have been through other downturns. Often these veterans (at least some that I have met) have just "sat them out". Eventually the market comes back and the old methods work again. That doesn't work this time and here's why.

The shift in the market this time, isn't just about the bubble bursting. It coincides with some scary changes in technology and consumer habits.

One of the big take-aways I think from what Keller says is that even when prices bottom (whenever that happens) and an upturn starts, the market is not ever going to be the same as it was. The Shifts will keep on coming and the nimble will thrive.

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Local Business Profile - Bethel Music Center, Bethel CT

Rick Schwartz (William Raveis Real Estate) — Mon, 14 Dec 2009 13:10:48 -0600

When Bruce and Dana Treidel first opened Bethel Music Center, I'd be surprised if they knew that it was to become the local institution that it is today. A full service retailer of all things musical as well as the premier place in the area for instruction, they have become an active part of the community in Bethel and the surrounding areas.

Whether you're looking to purchase a Violin, Clarinet, Cabasa (which is not a type of sausage, BTW), Euphonium, Guitar, PA, Reeds, Digital Piano, Trombone, Upright Bass, Lyre, Metronome, Print Music or anything else you can think of - they have it or they'll get it.

If you are not exactly sure what it is you want to buy, the staff will help guide you through the options. Personal service is what BMC is all about.

In addition to being a retailer, as I mentioned above - this is the place to go for instruction in just about any instrument you can think of. Approximately 8000 lessons per year are given in their suite of instruction studios.

They've been doing this so successfully for such a long time that some of their students have become instructors, and their instructors over the years have become staff members.

Working closely with the local school system they also provide rental instruments for many budding young musicians. If you have an instrument that needs repair, BMC also provides high quality "1st Chair Repair", with the work being done on premise personally by Bruce, or by one of his staff that he has trained.

In 2008, they celebrated their 25th year in Bethel.The store is located next to the Bethel Cinema at 273 Greenwood Avenue. 203.792.4304

Online they are at BMCMusicSource.com or follow them on Twitter @bethelmusiccent

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The Risks of Killer Negotiation

Rick Schwartz (William Raveis Real Estate) — Sat, 12 Dec 2009 11:05:12 -0600

This is the third in my series on negotiating the sale or purchase of a house. You can see the others HERE and HERE.

This - which may or may not be my final word on the topic of negotiation (you never know what's going to pop into my addled, old brain at any moment) covers the subject of why it may be in your own best interest not to approach a home negotiation with the tactics of your character in Mafia Wars.

What is KILLER NEGOTIATION?

In a nutshell it means putting the other party in vice until they crack. Pushing them to do what you want not by vigorous "give and take haggling" to make the best deal you can, but by testing the limits at which they will "break" and bend to your will.

This can apply to either side - the buyer or the seller. In a depreciating (buyer's) market the seller will typically be the target and in an appreciating (seller's) market it will most often be the buyer. Not always - it is sometimes about the market and sometimes it's just about exploiting the other party's sense of desperation.

KEEP YOUR EYE ON THE GOAL.

I'm in no way urging that you should pay more or take less for a house than the market or your individual situation dictates. This isn't about the results of bargaining - it's about the tactics. Remember what your objective is and why you put yourself into this position in the first place. The goal is the same for each side: To make the best financial transaction you can in the best time frame with the least amount of risk.

The part of that statement that everyone always zooms in on is the first part - the price! The goal, however has more than just that. It's about your optimum time frame and minimizing your risk.

RISK?? WHATCHOO TALKIN ABOUT?

I JUST WANT TO BUY (SELL) A HOUSE!

BUYER RISK

Unless you are paying cash for a house and are not selling another house, there are pieces of the transaction that you simply have no control over.

Most moves are part of a chain. The number of links in the chain can vary. If you must complete the sale of your own home in order complete your purchase then you must rely on the success of your buyer. If that buyer is also selling something then you must rely on the success of your buyer's buyer. And so on. The more links the more places something can go wrong.

The old adage about a chain only being as strong as its weakest link doesn't have a better example than in a chain of home sales that rely on each other.

In addition, if you are acquiring a mortgage for your purchase there are a million things that can go wrong between the time you and the seller agree on transaction terms and the closing. The work flow of a mortgage is dependent on a number of laws that have specific intervals between critical dates as well as being dependent on the speed, work-ethic and efficiency of any number of employees and third party vendors that the bank may employ.

SELLER RISK

Unless you are selling your home with the idea of renting your next home, staying in a hotel while you travel for a while, or moving in with relatives and you do not need the net proceeds from the sale for living expenses, there are parts of the transaction that you have no control over.

The chain affects you as well - on both ends. In order to close successfully you are dependent on your buyer's success and his buyer's success. And so on. In addition, if you are purchasing another home where you plan to live, you cannot complete that transaction unless the people you are buying from close successfully - and they are dependent on the people they are buying from. And so on.

THE ULTIMATE DYSFUNCTIONAL FAMILY

Sellers, buyers, downstream buyers and upstream sellers are interdependent on each other for a successful move. You start out as adversaries and then you all need each other to be successful. I'm not a mathematician so I can't calculate the degree of risk but let's just say that the more links in the chain the higher the odds that it will break somewhere along the line.

You cannot control anything that happens upstream or downstream. You can't even control much that happens with the two closest links, who are your buyer and your seller. There is one thing that you can do to lessen some of the risk - at least at the closest point to you. You can control the level of goodwill between you and your buyer or seller.

SOME EXAMPLES

Work with your Realtor and come up with a price range that falls in within market value. Negotiate by making offers and counter offers. Try and learn what you can about the other parties sense of urgency and stick to numbers that you think will be accepted. Wait them out if you have to. Don't go to a number that you don't think is acceptable. Go as many rounds as you have to, working with your Realtor's guidance.

The key is to do it with respect. (The following items are true - names changed to protect innocent).

Unless there is a valid reason - don't tell your Realtor to inform the other party that if they don't respond to a counter offer within a few hours, you are pulling out.
If you are the buyer and in your initial offer you ask for some item that was not in the listing - don't press the issue if the seller replies that it's an important item to them and they need to take it when they move.
If you are the seller and you settle on price around the time of a holiday weekend and the buyer can't get an inspector to come out within 3 or 5 days as detailed in the offer - don't inform him that his inspection contingency is gone
If you've gone through several rounds of offer/counter offer and you are now $800 apart on a $400,000 home, and the other party offers to move another $400 if you'll do the same - do it! Don't come back and say you'll do $350 if he'll do $450

You certainly have the right to do any or all of the above. As a Realtor, my job is to advise, but ultimately present any and all offers and demands my client makes.

The odds are, whatever side you are on, there is going to be SOMETHING you'll need from the other party after the negotiation before the closing (These are all true)

A buyer is going to ask the seller to extend the mortgage commitment date in the contract by a week
A seller is going to ask a buyer if they can rent the house back after closing for 48 hour
Either side might need an extra day to execute the sales contract because their attorney was sick

There are a dozen other examples but you get the idea. The bottom line is that if you put the other party in a box and squeeze the life out of him at the beginning of a transaction - I can assure you that he will remember.

As with most of things I write or talk to clients about - the operative phrase is "Accurate Expectations".

The funny part of it is, very few strong arm tactics actually change the outcome of your transaction. It's almost never about the original goal (see above). It's about winning. As I've said before a truly successful negotiation doesn't have to have a winner and a loser.

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Should You Put Your Home Listing On Hold For the Winter?

Rick Schwartz (William Raveis Real Estate) — Wed, 02 Dec 2009 12:31:55 -0600

It has been a somewhat common practice that if a house doesn’t sell by early December to withdraw your listing and put the house back on the market in the spring. The reasons for this are typically emotional – not logical.

The idea of strangers traipsing through your home during the winter months sounds very intrusive. Snow and slush are not welcome visitors – and, no matter how many signs you put up, or requests you make, there is always the possibility that the ‘lookers” are not going to remove their shoes or boots when inspecting your home.

In addition, keeping your house ready for showings is, if done properly, a lot of work. You have to make sure the kitchen is clean; all the dirty laundry must be picked up; walks shoveled promptly; toys put away, etc. Even if you are typically very diligent about keeping your home neat and tidy, there is always that extra special touch that needs to be done when a Realtor is bringing a prospective buyer.

Lastly, who wants to be entertaining relatives or friends during a holiday visit and have a Realtor call to say that someone wants to see the house now?

So why not just take a break?

Winter is slow for home buying anyway, isn’t it?

Here’s the catch. While there may indeed be fewer lookers during this season, the fact is that those people who are looking are likely to be serious buyers. After all, it’s not any more fun for them going out in the bad weather than it is for you to have them in. So if they’re coming to see your home, they just might be the buyers you want. They might be the ones who will fall in love with your home and make an offer. If you put them off until March or April, they could very easily have found another home by then.

The other thing to consider is that if you are taking your house off now and plan to put it back on in springtime, doesn’t it make sense that a lot of other folks will be doing the same thing? So there you are in March – one of many homes suddenly on the market, increasing the choices for the buyers.

Wouldn’t it be nice if you could be one of only a few folks who have homes for sale during the next few months? When supply is lower – even a little bit lower – you’ll likely get more for your home.

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Are Home Inspections for Renegotiation or Buyer Protection

Rick Schwartz (William Raveis Real Estate) — Mon, 30 Nov 2009 14:06:22 -0600

It's fairly ubiquitous today to hire a licensed home inspector when purchasing a home. This is a good thing. For most folks a home purchase represents the largest amount of money to be spent in their lifetime. The home inspection contingency is typically one of the "big three" contingencies in an offer to purchase.

While specific language and format will vary, the basis of a home purchase agreement has, in essence, three components from the buyer's point of view.

We will purchase your home if...

You agree to our price
We can acquire appropriate financing
Upon inspection(s) the home has no defects which we deem unacceptable

If any of those contingencies are not met, the buyer has an out and will likely be able to recoup any money paid into an escrow or trust as a deposit.

I guess this is where I should put my disclaimers.

I am neither an attorney nor a home inspector - this post is to be construed neither as legal advice nor specific recommendations on any construction, structural, etc issues regarding a home you wish to purchase. Any similarities to actual persons living or dead is purely coincidental. One offer per household and finally - employees of Rick Schwartz Homes, any affiliates, wholly or partially owned subsidiaries or related companies are not eligible.

The question I'm posing, as a Realtor is this: Should it be assumed, by the buyer, that the seller should bear the cost of repairing any and all defects uncovered during a home inspection?

My purpose in this discussion is to raise the issue for thought as to why we do home inspections and should the buyer plan to use this moment to renegotiate the purchase price of the home.

We do home inspections in order to uncover defects in the home that might not be noticed during the shopping process. Things that might not be visible during a routine walk-through. Most defects are fixable. There is obviously, a cost involved in any remedy. The key point, in my opinion is one of expectations. The purpose of the inspection is to uncover things that were not likely to be apparent when you are in "shopping" mode. Examples:

If you see water dripping into a large puddle in the center of the basement directly under the kitchen, you should not be surprised when a home inspector reports a plumbing issue.
If you see scores of rodent traps on the floor in several rooms, you should not be surprise if the inspector hints that there might mice present.
If there is black tape across the front of several electrical outlets, you should not be surprised if the inspector recommends that an electrician check the place out.
If the front view of the house looks more like the one on the left in the image below, rather then the one on the right, you shouldn't be surprised at anything the inspector finds.

Serious point here is that your own walkthrough which happens long before you negotiate price should give you a general idea of the condition of the house. If you have a feeling that there are issues yet to be discovered, say so early on. Have your Realtor let the listing Realtor know that you are making a lower offer because you saw, this or that or the other. Take the condition of the house into account before you decide what you want to pay.

Your home inspection is, without a doubt, going to reveal some items that need to be corrected. If they are minor, put them on your list of things to work on when you move in. If they are major safety, health or structural issues, then either ask the seller to pay for repairs, split it with them or use your contingency to pull out.

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How to Apply for Homebuyer's Tax Credit - IRS Presentation

Rick Schwartz (William Raveis Real Estate) — Sat, 28 Nov 2009 14:05:48 -0600

There’s been a lot of publicity and information posted about the new version of the Homebuyer’s Tax Credit which was just expanded and extended by Congress and President Obama.

The new version includes not only First Time Homebuyers but also folks who own existing homes. The presentation below is from the IRS and explains in some detail about the specifics of how and when you should apply for the series of credits that have been offered starting with the 2008 program, the 2009 program that expires on 11/30 and the new program which goes into 2010.

IRS Presentation on Homebuyer's Tax Credit

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My Thanksgiving Message to the Blogosphere

Rick Schwartz (William Raveis Real Estate) — Wed, 25 Nov 2009 10:39:56 -0600

I know the standards of writing I've set in the past are causing you right now to eagerly anticipate sage pearls of wisdom from me; carefully selected words expressed in such an articulate, heartfelt fashion with a message so touching and meaningful as to make you pause, look into the deepest recesses of your heart and reflect on the things you should be thankful for in spite of the troubled times we live in. Sentences so eloquently constructed they'll render mental and emotional images that will make you cry (just a little). You'll vividly and fondly remember all the joyful Thanksgivings of years past and look forward with hope and eager anticipation to all the Thanksgivings yet to come.

WELL......

Sorry to tell you - I got nothing!

Just enjoy your time off with family and friends and don't eat too much stuffing.

HAPPY THANKSGIVING

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Route 7 Brookfield Bypass (Super 7) is now Open

Rick Schwartz (William Raveis Real Estate) — Thu, 19 Nov 2009 13:54:55 -0600

There was a grand opening ceremony this morning to commemorate the long awaited completion of the extension of Super 7 from the Southern end of Brookfield, CT to the Southern end of New Milford.

State Representative David Scribner of the 107th District, serving Bethel and Brookfield put out the following statemtent at 2:30 PM today.

Dear Neighbors, We did it! After many years, a few set backs, and a lot of hard work, the Route 7 Brookfield Bypass is officially open for motorists. I was honored to join Governor Rell and Senator Andrew Roraback for the official grand opening this morning, and am excited that this critical project has finally been completed.

This extension of Route 7 will help alleviate traffic congestion in Brookfield. This is not only a boon to motorists tired of hitting the brake pedal on their way to and from work, it is an important step forward for the business community in Brookfield and making our town more attractive to those who want to open or expand a business here. As the Ranking Member of the General Assembly’s Transportation Committee, as well as a member of the Finance, Revenue, and Bonding Committee, I have made the Route 7 Bypass a priority during my time in the Legislature. I have been extremely fortunate to be joined in that fight by Senator Roraback, as well as Brookfield’s own Governor Rell. This project will certainly be among the most important legacies of her Administration. Working as a team, we were able to ensure the funding was made available, negotiate obstacles, and see the project through.

As for me I'm on my way out to my Honda Civic to test it out before any potholes develop.

From a Real Estate persepctive this opens up many new opportunities for folks commute to the west or South of Danbury to purchase affordable housing in Brookfield and New Milford.

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Local Business Profile - Darryl Gregory, Musican/Entrepreneur

Rick Schwartz (William Raveis Real Estate) — Tue, 10 Nov 2009 15:56:11 -0600

Darryl Gregory

One of the reasons that I admire Darryl Gregory I think, is because I'm a little bit envious. Most of you who know me well, know that although I am very passionate about my own business - helping people through the muck and mire of the housing market - my first love has always been music. Darryl has managed to capture the best of both worlds in that his love of music is also his livelihood.

For his "day job", Darryl is a Middle School Music Teacher. You gotta love teachers - especially music teachers. They not only pass their own musical knowledge to the next generation, they also somehow have learned to deal with the squeaks and toots of young musicians and not go absolutely nuts from it.

When not at School, you can usually find Darryl in his home-based studio -- BLUE CAVE STUDIOS in Sandy Hook, CT. He could be working on any number of projects. Blue Cave is a project studio that caters to just about anyone who wants to record anything. Singer-songwriters who want to produce a marketable CD of their music, Songwriters who need demos, Voice over tracks and Background music for films and web projects just to name a few examples.

The cool thing about working with Darryl is that he doesn't just "rent time" - he works closely with clients providing whatever level of technical expertise and personal support they may need to produce the best possible project.

It's not just musicians who need recording assistance, though. Keeping pace with today's businesses, another of Darryl's projects is EASY BUSINESS PODCAST. Here Darryl helps bloggers and Internet business folks with the creation, production and implementation of podcasts to help them get their own messages into cyberspace.

Speaking of podcasts, as an avid supporter of the Indie music scene, Darryl produces his own series of podcasted interviews he does with a wide array of independent musicians from around the world. He hosts these on the website UNSIGNED UNDERGROUND. the 26th Episode was just added this past week - an interview with Singer/Songwriter John Batdorf.

For a little peek into Darryl's thoughts on things, check out his Blog SLOW DRIP FROM AN EMPTY HEAD. You can also follow him on Twitter @darrylgregory which is actually where he and I first met. For the ultimate experience of all things Darryl though, you need to listen to his own music. You can find the hub at DarrylGregory.com

For live performances check his site and you'll find a list of local gigs and you'll have a link to his CDs. In addition Darryl is available for House Concerts - a venue that has been growing in popularity throughout the indie music world. It's a great way to hear some wonderful music and share it with your friends.

Check him out - it's worth the time.

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Move-up also mean Move-Down. Increased eligibilty on Homebuyer's Tax Credit

Rick Schwartz (William Raveis Real Estate) — Mon, 09 Nov 2009 12:10:12 -0600

The new expanded portion of the Tax Credit for Homer buyers is being referred to a Move-up plan.

You can also downsize.

As long as you meet the other requirements such as the income limits and having lived in your current home for 5 years you can get the up-to $6500 credit even if you are downsizing.

The credit is not dependent on your new house being higher priced than your current home.

You don't even have to sell your current home.

If, for example your current home is on the market but it doesn't sell for one reason or another, you can still get the tax credit.
If, for example you want to keep your current home and rent it out and move to a new home, you can still get the tax credit.

In both of those cases the new home must become your primary residence. You cannot buy something as an investment.

Standard Disclaimer - talk to your accountant about your specific eligibility.

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10 Digit Phone Dialing for All of Connecticut on 11/14

Rick Schwartz (William Raveis Real Estate) — Fri, 06 Nov 2009 15:03:19 -0600

NEW AREA CODES WILL CHANGE OUR DIALING HABITS

It's been coming for some time - and it's finally here. Both Area Codes in Connecticut are having babies in a few days.

Area Code 203 will give birth to Area Code 475
Area Code 860 will give birth to Area Code 959

The upshot of this for all of us is that we will have to dial 10 digits (area code plus the number) for every call that we make even if you are calling your next door neighbor.

We should be used to this kind of thing by now. Some of us may remember when you could call people in your own exchange with just the last 4 digits. (Did I just admit that I remember that???)

Even if 4-digit dialing goes back to your ancestors, the new Area Code syndrome has been going on since the 1970s. At first we'll be confused and annoyed, then it will just become habit.

Also remember that, just as now, you'll have to dial a "1" BEFORE the Area Code if you're calling someone outside your local calling area.

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Homebuyer's Tax Credit Extended and Expanded

Rick Schwartz (William Raveis Real Estate) — Fri, 06 Nov 2009 09:19:56 -0600

Things always seem to come down to the last minute.

The $8000 First-Time Home Buyer's Tax Credit, set to expire on November 30, 2009 has been extended. 1st Time buyers now have until April 30, 2010 to sign contracts on their new home and have 60 days beyond that to close the transaction.

BUT WAIT, THERE'S MORE

In addition to the extension, the program has now been expanded to include "move-up" buyers. As long as you have occupied your current home for 5 of the last 8 years, you are also eligbile to apply for a tax credit. It's a little less, capped at $6,500 instead of $8,000 but hey - it's nothing to sneeze at. The following is a summary put out today by the National Association of Realtors. If you want to explore this further, speak with your lender.

BUT WAIT, THERE'S EVEN MORE!

Yup - one more thing. In a separate measure Congress has also passed an extension - through 12/2010 of the new higher limits on conforming loans.

You can read the definition of Conforming Loans and Jumbo Loans for more detail, but the bottom line of it is that better interest rates are typically available on conforming loans than on jumbo. By raising the limit for conforming loans, it enable more folks to get better interest rates on larger loans. This is good!

THE DEBATE!

There's been a lot of discussion in the Real Estate community as to whether extending and expanding these programs is good for the economy in the long term.

There are those who feel that it will provide a "false" feeling of improvement if people buy up houses over the next several months for the tax break. The feeling is that when it ends, we could move back to a very slow market.

Those in favor of it feel that getting people moving into new homes could very well be the impetus needed to jump start the economy. When people move, there is a lot of cash pushed into the economy in the form of moving costs, renovations, furniturepurchases , hiring of contractors - etc. So it may be that things will be better BECAUSE of the temporary burst in home sales that is expected.

Whichever side you fall intellectually on is moot at this point. The extension is here and if you've been thinkikng about buying a house - buy one, while the program is on. This is one more low-pressure system in the Perfect Storm for Home Buyers.

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Perfect Storm for Home Buyers in Connecticut

Rick Schwartz (William Raveis Real Estate) — Fri, 30 Oct 2009 09:30:15 -0500

I know that headline sounds like a line of insincere marketing hype. Unfortunately, in our business, someone is always saying "It's a great time to buy a house".

LET'S FACE - IT'S NOT ALWAYS A GREAT TIME TO BUY A HOUSE!

In an "UP" market when inventory is low and prices are high, you will likely find yourself in a bidding war if you are interested in a desirable house. Bidding wars are great for sellers - not so much for buyers. That's why they call it a seller's market.

A buyer's market exists when prices are down and inventory is up. If you add in the third piece which is Interest Rates, you get the perfect storm.

Right now:

Inventory is at an all time high and all indications are that it will continue to rise because, sadly, the unemployment situation is expected to add to the already high level of foreclosures that are out there.
Prices are at a level where they were prior to the boom of the early part this decade.
Interests rates are - well, they're just ridiculous!

Any two of those three things would make things ripe for buyers - having all three in place creates a situation that simply makes it darn near a sin for qualified buyers to sit it out any longer.

The other thing that makes it EVEN better, is that most home sellers are beginning to understand the market. In the last few months as I show houses to buyers, I find that more and more of the listing prices are very close to market value. This makes the whole buying process simpler. The truth that the sellers are realizing is that although they may have to sell their homes for, perhaps 20 - 30% less than they may have paid a few years ago, they will get that savings back as they buy something else with the same kind of depreciated value.

As Realtors we often have buyers tell us that they are "Waiting the market out". The question I usually ask is this

Which are you waiting for,

INCREASE IN PRICES or INCREASE IN INTEREST RATES?

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Great Interview with Richard Smith about Tax Credit, Short Term future of Housing Market

Rick Schwartz (William Raveis Real Estate) — Fri, 23 Oct 2009 14:16:26 -0500

Excellent interview from Fox Business Network with Richard Smith, CEO of Realogy regarding where the housing market is headed in the short term.

He points out, correctly, that the market for home buyers is about as good as it gets. Low interest rates and high inventory make a perfect storm for buyers.

The primary focus of the inventory is regarding Smith's opinion on whether or not the $8000 1st Time Homebuyer's Tax Credit should be extended and his opinion of whether or not it WILL be extended.

The interviewers went on to ask him about the prediction of how continued increase in the number of foreclosed properties will impact the market.

Interesting and informative video.

WATCH IT HERE.

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You've heard it plenty...time is running out to take advantage of the $8,000 tax credit

Rick Schwartz (William Raveis Real Estate) — Thu, 22 Oct 2009 10:26:32 -0500

Excellent video courtesy of Plymouth and South Shore Associationof Realtors via Chris Head from William Raveis Real Estate. Time is short but it's still not too late if you get going right away.

Via Chris Head Norwell & South Shore Real Estate (William Raveis Real Estate):

Still don't understand how the tax credit works? Watch this video courtesy of the Plymouth and South Shore Association of REALTORS.

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How to Sell Your House Without a Realtor

Rick Schwartz (William Raveis Real Estate) — Tue, 13 Oct 2009 10:27:14 -0500

So you want to sell your house but do not see the value Realtor representation. Not an unusual thought - after all, lots of people do lots of things themselves like fix their cars, do handyman jobs in their house, do their own taxes, etc. If you can do something as well as a professional does I say "Go for it!"

As a Realtor I believe strongly in my own abilities and I do think I'll do a better job than you will - but that's not what this article is about. I've already written about the things that you should expect from a Super-Realtor like me to help you sell your home for the highest possible net value in the shortest amount of time with the least amount of inconvenience to you.

If unrepresented selling feels like the right choice for you, here are some tips to help you through.

RESEARCH

While you may not have access to your local Multiple Listing Service which provides Realtors with up to the minute market data on sold, active and withdrawn properties that are comparable to yours, there is a wealth of data out there for you pore over to help determine what your house can sell for.

If you know of a house that sold recently, your town land records should be able to find details on the sale. Some towns are putting their records on line so you won't have to weave your way through the town hall to look things up.

Websites like Zillow can help you also to determine the value of your house based on their algorithms which primarily use square footage and proximity of recent sales as their basis. You will have to temper these based on the unique attributes of the sold homes balanced against your own. Things like age, condition, type of heating/cooling, parking, water and waste specifics, flooring and many other specifics will be pluses and minuses that impact the right price for your home.

As for currently listed homes, you can get the basics of these from various websites to use as comparison. I would also recommend going to any open houses you might see advertised in order to check out the competition.

The key in this is to be honest with yourself -- check your ego and emotional attachment to your house at the door, so to speak. Things that have personal value to you might not mean much to prospective buyers. A wine cellar, for example might add a lot of value to you, but to someone who doesn't collect wine, it might just be considered storage.

EXPOSURE

One of the most important things about selling anything, whether it's a toy collection, a house or a football stadium, is that you have to somehow get your product into to the consciousness of your target audience.

First you have to determine who and where your target audience is. Remember that, as an unrepresented seller, your buyer pool is most likely limited to the people who have decided that they want to purchase from someone who is selling on their own. If someone has decided to engage a Realtor to help them find homes, they are most likely going to rely on that Realtor to help them find a home. Most Realtors have user friendly interfaces for their buyer clients to peruse the houses that are available and choose which ones they would like to see.

There are, for sure, buyers who are specifically looking for For Sale By Owner houses. Here's why. They know that the seller isn't paying a commission to a broker and they would like to save some money. Their logic is that they are entitled to some of the money you'll be saving in the form of a lower purchase price.

You can find those buyers, usually via two methods.

Online. There are a ton of individual websites where FSBO buyers and sellers can connect. Check them all out and post the details of your house on each of them that you like.
Signs. The second method of attraction is the FSBO sign in your front yard. Obviously this will only attract people who actually see it, so the exposure will be limited to people who drive down your street. If you live on a really busy road, many people will drive by and a certain percentage of them will be prospects for you. If you live on a cul-de-sac or dead end street your exposure will be mostly limited to people who visit your neighbors.

If you go with a sign, don't make the mistake of trying to advertise too much on your sign. Business 101 says that marketing should not be an attempt to sell your product - just a means of getting the prospects to contact you. Someone I know recently sent me this photo of a FSBO sign. I don't know if this sign was real or a joke (probably a joke) but it shows what not to put on the sign.

What you do want to put on the sign will basically be how to contact you. In good weather you may also want to put some brochures with some of the POSITIVE highlights of the house.

Third possible avenue (this will cost you some money) is to contact Real Estate brokers and offer them a commission if they bring a buyer. You can set any amount you like. Simply tell them, that you are not listing your house with a broker but you would be willing to pay a certain amount to a broker who has a buyer.

If you decide to do this, you will be paying less than you would to a listing Realtor who has to account for paying a portion to the buyer broker. Remember, as I said above, if you are saving money, your FSBO buyer will want to share the wealth with you.

You can reach out to the Realtors by finding out individual email addresses, calling them, printing fliers and bringing them to all the offices, mass faxing - or any other method you choose.

SHOWING POLICY

Decide ahead of time how you will handle requests for showings. If there is more than one adult living in your house, make a schedule as to who will be responsible to host visitors to your house. Decide what times you are willing to be available. Most buyers want to see homes in the evenings or weekends, so be sure someone is available.

One urgent safety issue. If you do have a sign in the yard and there are times when minor children will be home alone, have a family discussion and make a plan how to handle unexpected visitors knocking on the door when there is no adult at home.

QUALIFYING

OK - so people start to call you - or they just knock on your door because of the sign - what is your plan?

Is everyone welcome to tour your home or do you feel that you should find a little bit more about them before letting them into your home.

My recommendation is to prepare a little script for people who call. Something to the effect of:

“We’d love to show you our home but I’m sure you understand that we need a little information about you first. We've prepared a little questionnaire which I can fax or email to you." If they are already standing on your doorstep because they saw your sign, you'll probably have to address this a little differently.

Some of the things you want to know include the following items:

Name,
Address
Telephone #
e-mail
Do they own or rent now?
Do they have to sell something before moving
How many people in the family
Where they commute to
When are they looking to move

These last couple are critical unless you want to waste your time with people who love to look at houses but cannot afford one.

Are they financially qualified to buy your home?
Have they seen a lender yet and do they have a letter of pre-qualification or are they buying cash.

You may want to personally connect with a local bank loan officer that you can refer people to in case they don't know anyone.

OFFER PROCESS

So if someone does make an offer, what do you do next?

Will you require them to give you a deposit WITH the offer?

If they don't want to give you any money until after you settle on a price, you can suggest that they give a check to their attorney for, let's say, 1% of the offered price. Their attorney can provide you a letter certifying that he is holding the money. If your buyer is serious he'll be willing to "put something in the game" before you waste your time negotiating. An offer with nothing attached to it, is not likely to be serious.

Prepare a sheet in advance stating your terms.

How long after the price is set do you want to allow them to perform an inspection?
How many days after the inspection will they have to bring up any requested repairs?
Do you want to require that the inspection be done only by a licensed home inspector - or can they just bring their cousin who has a tall ladder?
Will you accept an offer from someone who has not sold their house yet?
How much time will you allow them to obtain a mortgage approval?

To protect yourself on these and similar issues, you probably want to have your attorney prepped for these kinds of issues so he can prepare a contract template for you to use.

NEGOTIATING

Once you and the prospective buyer are on the same page as to the process you can begin negotiating the price.

Expect a low initial offer. That's what buyers do today. They will test the waters to see what your sense of urgency or desperation is. So decide ahead of time how you will respond.

The second reason for an expected low offer is something I mentioned above. The buyer wants to share in the savings you will realize from not listing your house with a broker. He's shopping in the FSBO market for the same reason you are selling there.

Real estate fees are always completely negotiable - there is no such thing as a standard commission. If, however your buyer has the perception, for example, that the fee you WOULD HAVE paid is 5% and your house is selling for $400,000, he has it in his head that you are saving $20,000. That might not be accurate since there is no standard commission, but as we all know, perception becomes reality for many people.

In that scenario he is likely going to expect to pay $10,000 less for your house because you are selling it on your own. You will have a hard time convincing him otherwise.

Remember, you have three options each time an offer is presented:

Accept the offer
Decline the offer
Make a counter offer

Repeat the offer/counter-offer cycle as many times as necessary to come to an agreement with the buyer on price and other terms. If you do not agree, just hang on for the next prospective buyer and begin the process again.

END GAME

So, you've received and accepted an offer. Final steps:

The buyer did an inspection and was satisified with the condition of the house.
Your attorney and their attorney have created contracts which you both have signed.
The buyer has applied for a mortgage.
The lender sends an appraiser out to confirm that the sale price does not exceed the current market value.
The buyer gets his mortgage approval.
The sale of his house get completed.

Somewhere in this process you will look for and be negotiating the purchase of your next home. It's always a difficult call to know when to begin because in most cases you won't be able to complete the purchase of your next home until your current home is sold. It's a bit of a juggling act - but this is not exclusive to unrepresented sellers - it's just a part of the real estate process.

Once all of those things have been accomplished a date is set for closing and you are on the way to your next home.

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Local Business Profile: Gotham Auto Works, 9 South Street, Danbury

Rick Schwartz (William Raveis Real Estate) — Wed, 07 Oct 2009 13:45:01 -0500

GOTHAM AUTO WORKS - Auto Detailing Center

Making the world shine - one car at a time!

Got $20? Got $1,000? Gotham Auto Works has something to offer. From a simple but thorough Hand Car Wash to full Auto Detailing, pin-striping, headlight restoration or just about anything to make your car look and feel better, Gotham does it. "Anything your car needs to look better - right up to the point of needing a body shop"

Owner Kevin Awalt had been doing mobile Auto Detailing for several years when, about a year ago, he decided to open a permanent location in order to be able to serve his growing client list year round - regardless of the weather. He opened his doors in 2008 at 9 South Street in Danbury, on the Bethel Line, just by the Railroad Crossing on Great Pasture Road.

A long time Danbury resident, Kevin's love of cars is matched by his business sense. Instead of just opening his doors and waiting for business, Kevin knows that to be successful, a business must become a contributing member of the community.

As part of this effort , he has provided needed car washing supplies to a number of local fund-raisers in an effort to help make the community a little better.

One of the cool things about the shop is that because the location is a former auto dealership, instead of garage doors, the work floor is accessed through a set of glass doors, so good weather or bad weather, you can stop by and see the Gotham team in action. It's one of the cleanest shops I've ever been in.

Always looking to bring his clients the latest and greatest, Kevin recently added high-end Hüper Optik® nano-ceramic window tinting into his product line. "Expensive," Kevin adds, "but worth the money". Stop by the shop for more details.

CAMARO DAY, 2009

Special events and promotions are another way that Gotham Auto Works differentiates itself. Here is a photo from last month's Camaro Day.

For an appointment or questions reach out to Gotham Auto Works:

Telephone: 203.885.1070

E-Mail: GothamAuto@gmail.com

Follow on Twitter and Facebook

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Open House Today 1- 4 10 Flintrock Drive Danbury $479,900 - Nice Colonial

Rick Schwartz (William Raveis Real Estate) — Sun, 04 Oct 2009 09:38:48 -0500

If you're out and about today, stop by and say hello. I'll be at 10 Flintrock Drive in Danbury from 1-4.

4 BR 2.5 Bath with updated everything. Priced to sell at $479,900.

DIRECTIONS: Clapboard Ridge (Rte 39) To Flintrock. House on left.

Can't make it, give me a holler to set up a showing.

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Who Cares About the 1st Time Home Buyer's Credit?

Rick Schwartz (William Raveis Real Estate) — Sat, 03 Oct 2009 10:25:33 -0500

Well it's very clear that the $8000 First-Time Home Buyer's Credit is a success.

OK - you're not eligible for the credit because you're not a first time home buyer so why does this matter to you?

Simple answer - as the housing market gets better it helps the economy get better.

The inventory of unsold houses decreases, so the people who own them begin to move on and, in many cases, buy new houses.

The sellers are freed up to invest profits back into the economy. In addition to buying new houses, they hire moving companies, buy new furniture and new electronics. They hire decorators. They hire contractors to remodel. They spend money at home improvement stores.

The home improvement stores, the furniture stores, the electronics stores, the re-modelers and the moving companies stop laying off people and actually hire new workers.

The government spends less paying out unemployment checks.

The newly hired people put money back into the economy.

The retailers who have improved business, make more money, which they invest back into the economy by opening new stores and buying more inventory, which helps the manufacturers who sell them the inventory.

Then the manufacturers start making more money and hire more people who start earning money and - you guessed it - put it back into the economy.

So, when you hear the news about the success of the 1st Time Home Buyer's Credit - remember - it helps all of us.

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What is the difference between Appraised Value, Assessed Value, Market Value, List Price and Sale Price?

Rick Schwartz (William Raveis Real Estate) — Thu, 24 Sep 2009 11:18:59 -0500

Depending who you are talking to about the price of a house you have to be clear what numbers you are using. If you’re not both referring to the same lingo, you could each walk away from the conversation thinking different things and not knowing it. Here are some definitions that may be helpful.

Appraised Value

The Appraised Value of a property is an opinion of the value of a home prepared by an Appraiser. His opinion is based on a number of factors or methods of determining the value. He will look at things such as recent sales of similar properties, replacement cost and his own knowledge of the local marketplace. Lending institutions will typically use the appraised value in determining the total amount of money they are willing to lend when the property buyer is applying for a mortgage.

Assessed Value

The Assessed Value of a home is the value determined by the tax assessor for the local city or town. This value is used by the municipality to determine the amount of tax that the property owner must pay. The Assessed value will often be multiplied by a mil (Millage) rate to determine the actual tax. In other words if the property has an assessed value of $100,000.00 and the mil rate is 5, the tax on the property would be 5 X 100 or $500.

Market Value

The Market Value of a home is the probable price that a house will sell for if it is put on the market. It is determined by an analysis of the market (usually by a Realtor). The analysis should include looking at similar properties that have sold within recent times as well as looking at similar prices for homes currently on the market. In addition, if done properly, the analysis should also include those homes that were put on the market but did NOT sell, and were withdrawn.

List Price

The List Price of a home is a number assigned by the seller when he puts his home on the market. It is essentially what he hopes to sell his property before. It has no formal mathematical relationship to the actual market value of the home. In determining the list price, any reputable Realtor will recommend that it be very close to the Market Value if the seller wishes to sell in a timely fashion.

Sale Price

The sale price of a home is the actual price that the home most recently sold for.

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METRO NORTH RAILROAD - Great commute for residents of Northern Fairfield County, CT.

Rick Schwartz (William Raveis Real Estate) — Wed, 23 Sep 2009 15:05:17 -0500

In our Danbury, CT metro area which includes Danbury, Brookfield, Bethel, Newtown, New Fairfield, Ridgefield - all in Fairfield County, as well as New Milford which is in Litchfield County, we have a lot of transplanted New Yorkers who work in New York City.

Lots of folks also commute from this area to Southern Westchester towns such as White Plains, Yonkers, New Rochelle or Mount Vernon.

Many drive their cars to and from work, but many of them prefer to commute by rail using Metro North Railroad.

What is Metro North?

Metro North Railroad is part of the NY/NJ/CT Metropolitan Transportation Association (MTA) which operates a number of mass transit operations helping commuters in the tri-state area get to, from and around New York City.

The flagship and focal point for Metro North is Grand Central Terminal. One of the most famous rail stations in the world, Grand Central (GCT) was first constructed in the 1870s in mid-town Manhattan as an above ground train station where several different Railroad lines could provide access to their riders, eliminating the need for passengers to travel from one station to another by foot or wagon when changing lines for continued travel.

It went through several evolutions until the early 1900s when the platforms and tracks were moved underground allowing for the now familiar GCT building to be built above the platforms.

Some Grand Central Lore

GCT has been the backdrop for many memorable motion pictures throughout its history. Two of the most well known were in Alfred Hitchcock's NORTH BY NORTHWEST - Grand Central was the starting point for Jimmy Stewart's character as he escaped New York City.

Also -who could forget Lex Luthor's lair in the secret tunnels underneath Grant Central in the first SUPERMAN movie starring Christohper Reeve with Gene Hackman as Luthor. It is true, BTW, that there are subterranean levels of GCT below what is accessible to the general public.

Currently there are 57 tracks and platforms operating in Grand Central. They are about equally divided between the upper and lower level platfoms. Originally the division in levels was determined by having the primary rail lines operate on the upper and commuter lines running on the lower. In those days primary rail lines were the main mode of long distance transportation for Americans.

Coming out of GCT, the 57 tracks all merge into 4 feeder tracks which run beneath Park Avenue through Mid-Town, emerging into an elevated line just above 100th Street, which carries commuters north of the city.

Where Do The Trains Go?

The three Metro North lines running on these tracks are the Hudson Line, Harlem Line and New Haven Line. All three lines run together until the station at Fordham (The Bronx) where they split into three branches. Hudson runs parallel to the river carrying passengers as far as Poughkeepsie. For our purposes here we are going to look at the Harlem and New Haven lines.

If you are hoping to travel from Northern Fairfield County to Manhattan you have a number of options.

The New Haven line, which, oddly enough runs all the way to New Haven, has a few branches that split off along the way and turn in north, deviating from the line's general North East path.

The first branch, as you can see on the chart, splits from the main line at Stamford and continues north for 4 stops terminating in New Canaan. New Canaan is a great community in the SW part of Connecticut. The train station itself if located right in the main area of the village. Some commuters from northern parts of Stamford prefer to come to this station as an alternative to driving into downtown Stamford.

The second branch splits off the line at South Norwalk and runs to stations in Branchville (Ridgefield), Redding, Bethel and Danbury.

The number of trains running on these branches each day is less than on the main lines so commuters have to plan their commuting appropriately.

The other option for folks in the Danbury Metro area is to drive west on I84 about 8 miles into NY State and take the Harlem Line from the Southeast station. Southeast is a primary hub for trains into NYC and the ride is direct as opposed to the CT branches which mostly require a switch of trains where they connect.

Travelling by train from Southeast will become even easier soon for residents of Brookfield and New Milford CT when the extension of RTE 7 is completed in November. This extension will give residents an opportunity to travel on a straight shot from the beginning of the highway, on the Brookfield/New Milford line all the way across to NY and the Southeast station.

If you need specific information on schedules, check the Metro North Website. Generally speaking, though, the options are many based on exactly where you live.

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OPEN HOUSE SUNDAY 9/27: 1 - 4 Camelot Court, Danbury

Rick Schwartz (William Raveis Real Estate) — Tue, 22 Sep 2009 10:14:25 -0500

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Local Business Profile - Belardinelli Tire Company, Bethel CT

Rick Schwartz (William Raveis Real Estate) — Thu, 10 Sep 2009 09:54:09 -0500

BELARDINELLI TIRE COMPANY, Bethel CT.

In 1961 Tulio Belardinelli opened the doors at Belardinelli Tire Company. 48 years later, he's still there. Which, by today's standards is really saying a lot. Local residents have come to rely on Belardinelli Tire Company not just for their tires. People come to Belardinelli's for all their automotive repairs from oil changes and tune-ups to emissions inspections.

For Tulio, it's more than just a business - it's a family enterprise. Tulio's daughter, Lisa Belardinelli Taylor is the company's Business Manager working along side her husband Mike, who is General Manager.

Almost any time you drop by you'll see the members of the Belardinelli team either consulting with clients in the office or working in the bays doing the various maintenance and repairs that keep Bethel's cars running well.

Carrying on a family tradition

The third generation is also on board now with Tulio's Grandson Jared Matthews working as a Sales Associate. This multi-generational idea is good news for Bethel drivers. It means that Belardinelli Tire Company is going to be around for a while.

Belardinelli Tire Company is located at 7 Beach Street on the corner of Greenwood Avenue, just across from the Bethel Cinema.

They are open Mon - Fri from 7:30 to 5:30 and Saturday from 7:30 to 12:00. Their phone number is (203)748-0889.

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Camelot Court, Danbury. Great End Unit at 11 Mannions Lane $269,900

Rick Schwartz (William Raveis Real Estate) — Wed, 02 Sep 2009 08:09:35 -0500

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