"Moore Thoughts"

Florence Market Looks Good for Buyers

Ron Moore The Home Team Pros (RE/MAX Professionals) — Sat, 10 Jan 2009 15:14:39 -0600

Have you ever stopped to consider the irony of it all? When the housing market was hot with escalading hosing prices, buyers couldn't wait to jump on board. With multiple offers coming in, buyers were willing to pay above asking price to get the home of their choice. When it's a buyer's market with deals galore out there, buyers go into hibernation. Go figure! In a seller's market, buyers fall all over themselves to make a deal. In a buyer's market, sellers just don't seem to be able to give their homes away.

Buyers, take a good look at what the market has done and is doing over the past five years in the Greater Florence Region of South Carolina. True, this year's housing market is the worst of the five but it isn't that far off from 2004 sales. What makes it look so much worse is the number of homes on the market. They have been going up steadily over the past five years and until 2007, sales were keeping up pretty well with the listings. In 2008, however, listings spiked by nearly 20% while sales decreased by 23% year over year. That has created a 9.8 month inventory in the local housing market, which should be a buyer's delight. So, where are the buyers?

To really understand what's happening in the Florence housing market, take a look at my last blog titled Lets Make Some Money! I have a chart there that illustrates the monthly ratio between listings and sales for 2008. Those figures point toward a possible bottoming out of the slumping housing market. Spring will let us know for sure. But here's the problem. The best deals for buyers are before the market turns, not after. If you're a serious home buyer but taking a "wait and see" attitude, you're going to be looking back at the bottom instead of buying into it. That'll cost you a lot of money!

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Let's Make Some Money!

Ron Moore The Home Team Pros (RE/MAX Professionals) — Sat, 10 Jan 2009 14:11:21 -0600

"It's a buyer's market! It's a buyer's market! It's a buyer's market!" It doesn't seem to matter how loud or often we shout it out, there still aren't many buyers. But if you have been thinking about buying a new home in Florence South Carolina or the Greater Pee Dee Region of South Carolina, this is one of the best buying opportunities in the past 50 years. As you can tell from the 2008 market summary chart I prepared, there are some very interesting patterns beginning to develop that suggest it's time for buyers to get off the sidelines and take advantage of market conditions.

The first thing I want you to notice is that the widest gap between homes listed and homes sold in the Greater Florence market was last April. At that time there was well over a full year's inventory homes, which clearly shifted negotiation leverage to the buyer. For many reasons (the decrease in new construction inventory being one), we may not see that wide of an inventory gap during this downturn again.

Secondly, notice how the gap has narrowed and begun to stabilize, signaling a potential bottom in the housing market. Currently there is a 9.8 month inventory to choose from. If that figure holds through Spring (when most new sellers enter the market place), then I will be more optimistic about the beginning of a housing recovery in 2009. If that happens while you are sitting on the sidelines, you will watch the best buying opportunities pass you by.

There is an old saying in real estate that says, "You make money when you buy a house not when you sell it." The savviest of buyers are making money now! By the way, if you want to take advantage of current market dynamics to purchase a newly construction home, you better not wait too much longer. This inventory is steadily shrinking as fewer and fewer builders pull new housing permits. Your best opportunity to make money here will be over the next six months.

For more information about the Florence housing market, go to my blog titled Florence Market Looks Good for Buyers. In this blog you'll find a chart of month to month ratios between listings and sales in our area.

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Eight Essential FSBO Forms

Ron Moore The Home Team Pros (RE/MAX Professionals) — Sun, 28 Dec 2008 15:21:24 -0600

Don't fall for the old FSBO myth that you aren't legally obligated to provide disclosure of material facts or complete and provide buyers many of the same forms that are used by real estate agents. In fact, most of these laws apply to the homeowner, not the agent. As part of an agent's fiduciary responsibilities, he will make these forms available to his homeowner clients to complete, collect them for his office files, and then make them available to buyers and/or their agents for review. Most of the forms listed below are required by law to be completed and provided by homeowners to all prospective buyers. I've added a few more that you should find helpful.

1. Homeowners Property Disclosure. The law requires that the homeowner fill this out and make it available to a prospective buyer before a contract for sale of real estate is signed. You are required to reveal anything that you know is wrong with the home. My advice to all homeowners is that not use the response "No Representation" because it not only suggests to a buyer that you might be hiding something, it could actually get you in more trouble if a problem that you should have know about arises after the sale.

2. Residential Sales Agreement. I have included a sample agreement in this Tool Kit. That sample contract sets forth the terms and conditions, along with any contingencies, that apply to the sale. Those going FSBO should always consult an attorney before signing any real estate sales contract.

3. Sales Agreement Addendum. It's possible that you might need to write out in greater detail some special contingencies. This addendum can be used and attached to the sales agreement. Keep in mind, however, that an addendum will take precedence over anything that is written in the original contract.

4. Lead-Based Paint Disclosure Pamphlet. For any home built before 1978, the seller of residential property must provide potential buyers with a copy of the pamphlet. Buyers must sign that they have received the pamphlet.

5. Limited Agency Agreement. We've developed and included in our Tool Kit an agreement that creates a limited and temporary agency relationship between you and an agent. My opinion is that a FSBO should never talk with an agent about potentially listing their home or protecting them if they bring you a buyer without having first protected himself through some kind of temporary agency agreement.

6. Agent Protection Agreement. We've also included a sample agreement that can be used to work with Buyer Agents, agreeing to give them a percentage of the sales price for producing a buyer and sale that goes to closing.

7. Closing Attorney Checklist. Without an agent involved in the sale of your home, it'll be up to you to coordinate the closing and see that the attorney has all the information needed to close. You should find this simple form helpful.

8. Buyers Access to Premises Agreement. This agreement sets forth in writing the specific conditions for access to the property for things like inspections, measurements, and a final walk through.

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The Seven Biggest FSBO Mistakes

Ron Moore The Home Team Pros (RE/MAX Professionals) — Sat, 27 Dec 2008 19:54:33 -0600

In another article I made the statement that most people who go FSBO become frustrated [and eventually list with an agent] because they aren't prepared for the challenges and hard work that's involved (Five Steps to FSBO Success). That frustration is feed and intensified by many of the most common FSBO mistakes listed below, most of which are the result of that lack of preparation and hard work.

1. Over pricing. You have to know the fair market value of your home, and that's rarely what you think it's worth! Remember this rule: your home is only worth what a willing buyer will pay for it and no more. What have similar homes in your community sold for? How do the size and amenities of those homes compare to yours? What's your competition doing? How much competition is out there? What are the market trends? It'll take some hard work on your part to find out this information on your own, but you have to know it if you are going to price your home correctly. If you're not comfortable doing this, then pay for a professional appraisal. It'll be well worth the money.

2. Letting emotions run high. You must make the mental transition from thinking "our home" to talking "their house." Your emotional attachment will not only lead you to over price your home, it will make negotiations difficult. Most people will discount their offer because they know you're saving money as a FSBO. Don't become insulted by an offer lower than anticipated. Expect it and use it as a springboard to negotiation.

3. Not being prepared. Due diligence is required if you're going to be successful as a FSBO. Have a good marketing plan. Know how to write a contract. Learn the process from beginning to end so you can anticipate and resolve problems before they occur. Understand the whys and wherefores of home staging and holding an effective open house. Know what's expected of you, the seller. It's a whole lot more than you think.

4. Refusing to make repairs. My advice to all sellers, FSBO or otherwise, is to pay for a professional home inspection and then make whatever repairs are needed to get the home in top condition -- before putting it on the market. If you take an "as is" attitude in marketing and negotiation, you're simply not going to get what your home is really worth. Most buyers will, however, pay top dollar for a house that is "move in ready."

5. Refusing to work with real estate agents. If you don't "protect" agents who bring you a buyer, they're not going to bring you a buyer! That's your choice, but you need to know that over 85% of homes are sold by them. If you really want to sell your home quickly, offer buyers agents a 3% commission. Chances are that a non-represented buyer is going to knock that much or more off what he would be willing to pay anyway.

6. Not knowing the law. There is a FSBO myth that says those selling their own homes don't have to follow the same legal obligations as real estate agents. Be careful! Contract laws, home owner disclosure laws, lead based paint laws and laws that protect a buyer's right for various inspections all apply, no matter who sells the home. For those not using a licensed real estate agent, I always recommended that they consult a real estate attorney before putting their home on the market.

7. Inflexibility of viewing times. Other people work, too. They have a family. Many times they have to rearrange their eating times in order to shop for a house. Yes, there are frequent interruptions, often at some very inconvenient times. But that's part of the job you signed up for when choosing to go FSBO. If you're not flexible in arranging viewings, you'll have a difficult time selling your home.

For more information about how to be successful as a FSBO, read my article Five Steps to FSBO Success.

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FSBO Tips: What Makes a Good Contract? Part 2

Ron Moore The Home Team Pros (RE/MAX Professionals) — Sat, 27 Dec 2008 17:29:07 -0600

This is the second of two articles on what it takes to write a good real estate contract. Here, I want to help FSBOs understand the twelve most basic elements of a legal and enforceable contract. They are:

1. Principle Parties: The persons entering into the agreement must be clearly written in the contract. If more than one person's name is one the deed, then those names must also appear on the contract to sell.

2. Property Description: A full legal description of the property may not be necessary but the address (including City, State, County and Zip) and tax map number should be written in.

3. Purchase Price: Although this is a personal decision, remember that your home is only worth what a buyer is willing to pay. Don't be offended or get upset by a lower offer than expected. Everyone wants a deal, especially from a FSBO. This is where good negotiation skills need to suppress emotions.

4. Conveyance: This will normally be the day of closing. It is not recommended that buyers be permitted to take possession of the home before then or that the sellers remain in the home after that date. Exceptions must be worked out in detail and in writing, including any financial considerations due one party by the other.

5. Earnest Money: The amount of earnest money needed is always negotiable. I just read today where someone recommended that this amount be between 2% and 5%. That's way too high in our area, where it generally runs from $500 to $5,000, depending on the value of the home and agreement between the parties. Demanding a high amount of earnest could cause you to lose a buyer. Don't make the mistake of assuming that you always keep the earnest if the contract falls through. This will depend on the reason and what is written into the contract. Also, the law requires a separate escrow account for these funds. They cannot be put in a personal account.

6. Financing: There are several items to be considered here. What kind of financing is the buyer getting? How much? By what date is final approval required? Will the seller pay any of the buyers' closing and prepaids? If so, how much? Write it in the contract!

7. Personal Property: Don't confuse personal property with real property. If a plasma TV is attached to the wall, it's become real property and must stay with the home unless specifically excluded in the sales contract. Any personal property that is to convey with the sale should be written into the contract, or preferably, handled separately with a bill of sale.

8. Closing Date: The closing date needs to take into consideration the time required for loan processing and title work. It is usually accompanied by a limited 10 to 15 day extension agreement in case there are unexpected delays.

9. Taxes: Most taxes are prorated at closing. This means that the seller will pay the buyer at closing for every day of the current year that he has owned the house. The buyer will then pay the total tax bill at the end of the year.

10. Inspections: Provision must be made in the contract for any inspections the buyer wants done on the home, as well as the deadline for any repair requests to be made. The contract should also address the specific items you agree to repair and what happens if the buyer decides there is too much work to be done on the home.

11. Contingencies: It's not unusual for there to be many different contingencies in a real estate sales contract; inspections, title and financing are all contingencies. Be careful, however, about agreeing to a contingency that links the buyers' purchase of your home upon the sale of his. If you agree to such a contingency, be sure to write in a 48 hour first right of refusal or you have in effect taken your home off the market.

12. Title Issues: Before a sale can be completed, the title needs to be clear! In South Carolina, the closing attorney (or title company, abstract company, etc) will do that for you, but what happens if a title problem occurs needs to be in the sales contact.

I have prepared a sample real estate contract that I believe will be helpful to someone who has made the choice to go FSBO. I will post that on my website after having a chance to review it with my team. If you have not seen Part 1 of this 2-part series on understanding contracts, just click HERE.

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FSBO Tips: What Makes a Contract Legal? Part 1

Ron Moore The Home Team Pros (RE/MAX Professionals) — Sat, 27 Dec 2008 16:58:11 -0600

I remember when I began my real estate career how little confidence I had in my own ability to write a good sales contract. I'm still amazed at how many "seasoned" agents demonstrate so much carelessness in what is such a basic and crucial task. If that's the state of affairs within an industry that uses sales contracts on a regular basis, is it little wonder that the general public doesn't fully understand them? That's precisely the danger for FSBOs. If they are going to sell their house themselves, it's absolutely essential they know how to write them.

A good place to begin learning about contracts is with the appropriate State Statutes themselves. In South Carolina those statues have laid down several requirements for real estate sales contracts to be considered legal and enforceable. They are:

1. Written Agreement: The Statute of Fraud requires that all real estate sales contracts be in writing to be enforceable. Handshakes, verbal agreements and general understandings are not legally enforceable so make sure all the details of the agreement are in writing!

2. Offer and Acceptance: All contracts for sale must have an offer and acceptance between both parties. Counter offers (or, any changes to the original offer, no matter how small or seemingly insignificant) automatically void the original offer. Therefore, all counter-offers must be accepted (signed or initialed) by the other party and then all parties must be duly notified of that acceptance before the contract becomes enforceable. Silence cannot be considered as acceptance. Prior to notification of acceptance of an offer or counter-offer, the other party has the right of withdrawal without penalty.

3. Consideration: There must be an agreed upon legal consideration of value exchanged for the performance or promise of performance by the other party.

4. Competent Parties: The parties entering into the agreement must be competent (not insane or intoxicated) and of legal age (18).

5. Legal Purpose: Contracts must be for legal purposes and cannot involve the performance of illegal acts.

6. Signed Originals: The original contract must be duly signed and dated by all parties to the agreement. Don't forget that any and all changes or modifications must also be initialed and dated by all parties.

The two most common mistakes made in writing contracts, even by real estate agents are: 1) not getting everything in writing, and 2) not understanding the urgency of signature and notification of acceptance. Obviously, there are other issues and I'll address ot those in another article.

To read the follow-up article on understaning contracts, click HERE.

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Tax Advantages for Home Ownership

Ron Moore The Home Team Pros (RE/MAX Professionals) — Sat, 27 Dec 2008 12:33:02 -0600

I trust that you had a Merry Christmas and a Happy New Year. Unfortunately, Uncle Sam doesn't let us enjoy our celebration too long before reminding us that tax time is just around the corner. Anyway, life goes on, But for the home owner, life can be sweeter as you cash in on some of the following tax benefits:

1. Loan origination fee -- these are deductions for the buyer (but not the seller) even if paid by the seller!.

2. Loan discount points (if any) - again, these are deductions for the buyer (but not the seller) even if paid by the seller.

3. Pre-paid interest (purchase) or pro-rated interest (sale).

4. Property tax prorates (buyers and sellers)

5. Mortgage interest paid in 2008.

6. Second mortgage interest paid in 2008.

7. Moving expenses (including storage, mileage, moving services, truck/trailer rental, hotels) if your move was more than 50 miles. Use IRS Form 3903 to claim these deductions.

Let me also say a word about seller capital gain taxes. Very simply, you probably don't have to concern yourself with this. If you have lived in the home for two out of the past five years and unless the net gain on the sale of that home was over $250,000 for single persons or $500,000 for married couples, you have no capital gain tax liability. Well that pretty much exempts all my clients!

Now, one more tip before I close. The laws on capital gains mean that you can buy a distressed home, a foreclosure, fixer-upper, or even build a new home every two years, live in it, and then sell it without tax liabilities! You can invest the money in your next home and eventually own a home without debt or you can just put the money in your pocket, tax free. Pretty neat deal, isn't it?

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Florence Healt Beat -- McLeod Regional Hospital

Ron Moore The Home Team Pros (RE/MAX Professionals) — Fri, 26 Dec 2008 11:56:58 -0600

In this blog post I would like to spotligh some of the services at McLeod Regional Hospital in Florence, South Carolina. I think you'll find the article introductions interesting and will want to click on the links to see the full article. While on the McLeod site, feel frre to navigate and survey their many services. You'll soon learn why McLeod is so highly rated.

The Cutting Edge of Radiation Therapy Delivery -- McLeod continues to be a forerunner in South Carolina with the most technically advanced equipment in the state. For current cancer patients and future patients, McLeod Regional Medical Center announced in 2003 the availability of a new cancer treatment system, which delivers very precise radiation to cancerous tumors without harming healthy tissue or organs near the tumor. Treating cancer patients in the Pee Dee with this technology places McLeod in the forefront with a number of hospitals on the "cutting edge" of radiation therapy delivery.

Follow this link to read more.

Best Home Care You Will Have -- McLeod Home Health provides quality health care for patients outside a hospital setting who require extended care after being released from the hospital. McLeod Home Health has assembled a team of skilled health care professionals, such as nurses, physical and occupational therapists, and social workers, to address each patient's individualized care plan.

Follow this link to read more.

McLeod Center for Advanced Surgery -- Technology and the people come together in the McLeod Center for Advanced Surgery and its OR of Tomorrow. These fully digital surgical suites are designed to create a virtual cockpit for the doctor, enabling control of all devices, access to images and information, and ?virtual' consultation using the Internet, with colleagues down the hall, or across the country. McLeod is partnering with two leaders in the surgical equipment industry -- Getinge and Storz. The first of these surgical suites will be open next spring. Additional suites will open in 2006. But what is "Advanced Surgery"? It generally encompasses one of four areas: Minimally Invasive Surgery, Interventional Radiology, Surgical Navigation and Robotics

Follow this link to read more.

Follow this link to visit McLeodHealth.org

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Five Steps to FSBO Success

Ron Moore The Home Team Pros (RE/MAX Professionals) — Fri, 26 Dec 2008 11:06:18 -0600

Thinking about selling your home via FSBO? A lot of people have gone this route but over 80% eventually end up listing with an agent. Of those who are successful, most say they wouldn't do it again. The reason for this is simple: most people who go FSBO aren't prepared for the challenges and hard work that's involved. For those who are prepared, however, the experience can be very rewarding. So to that end, here is a summary of my Five Steps to FSBO Success:

1. RESEARCH -- Do Your Homework. What you do or don't do here will set the tone for your entire FSBO experience. Here are just a few things you need to know before going down the FSBO road: the pros and cons of doing it yourself, what's involved in the total process (from beginning to end), your home's true market value, your real costs of selling and your plan of action.

2. PREPARATION - Do Your Home Work. There's normally a lot of work to be done on a home, inside and out, before putting it on the market. This includes fixing it up (repairs), cleaning it up (appearance), taking it out (storage, garage sales and charity), and spacing it out (staging).

3. MARKETING - Let Your Home Work. Exposure is one of the crucial problems to overcome in selling your own home. Use every means available to get the word out: signs, brochures, advertising, the Internet, an open house, real estate agents, e-mails and post cards to family, friends, co-workers and neighbors. Don't leave any stone unturned.

4. SALESMANSHIP - Work to Sell Your Home. The difference between marketing and salesmanship is PEOPLE. The objective of marketing is to get potential buyers to consider your home. Once you get them there, don't blow a deal by taking things personal or being offended at an offer. Forget your emotions about your home and learn how to negotiate a contract for their house.

5. COORDINATION - Work to Close the Home Sale. This is when most deals fall apart so due diligence will be required on your part. Since you don't have an agent, it'll be up to you to coordinate the inspections and repairs, keep the buyer on track with his financing, and communicate all pertinent information with the closing attorney. These activities won't take place in a timely and smooth manner unless someone (YOU) stays on top of them.

Selling your own home will be a test of character, determination and patience. If you are diligent in following these five steps, however, you can do it; and, it won't have to be a nightmare. Though I have just briefly outlined these steps, tons of more detailed help can be found on the Internet. So, before you put your home on the market, do your homework!

Here are a few links to other articles that you might find helpful:

FSBOs Have Maranda Rights Too! Five Open House Tips for FSBOs Essential FSBO Service Providers

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Service Providers FSBOs Need To Sell Their Home

Ron Moore The Home Team Pros (RE/MAX Professionals) — Mon, 22 Dec 2008 14:20:40 -0600

When starting out to sell your home the process usually seems a whole lot simpler than it really is. Rarely do we give much thought to the number of people that are potentially involved in a real estate transaction. Since most of the frustration in bringing a real estate transaction to a successful conclusion can be eliminated by planning ahead, here is a partial list of important service providers that could be involved in a FSBO transaction:

1. Real Estate Attorney. South Carolina requires that an attorney close all real estate transactions.

2. Appraiser. If your home doesn't appraise for the contract price you've negotiated, the buyer probably won't get the mortgage and you'll loose the deal.

3. Home Inspector. To avoid surprises and to help you get your home ready to sell, you would be well advised to consider paying for a home inspection prior to putting your home on the market.

4. Mortgage loan office. A mortgage lender can help you in pre-qualifying buyers and keep you up-to-date on interest rates and different types of mortgage programs available. Insist that prospective buyers are pre-qualification before negotiation.

5. Surveyor. If you do not have an up-to-date surveyor's map of your property or if your property lines are unusual or unclear, you may need to have the property surveyed.

6. Termite inspection. Make sure everything is up to date. You pest control company should do a quick inspection for a minimal fee to point out anything that might be a problem during the closing process.

7. Lead paint and radon gas inspections. You will need to make your home available for these tests should a buyer request it.

8. Well water and septic system certification. If applicable, certain types of mortgages require recertification of these systems by DHEC.

9. Insurance company. Not only will the buyer require insurance, you'll need to notify your insurance provider of any changes in coverage as soon as possible.

10. Tax advisor. Although for most sellers, there are minimal tax implications on the sale of a personal residence. Avoid surprises, however, and find out in advance of the sale.

11. Contractors and repair specialists. If your home is more than a couple years old, chances are you'll need a few repairs done (painting, flooring, roofing, etc.).

12. Home warranty company. Most buyers are now insisting that sellers provide a one year home warranty at closing.

13. Real estate agent. Yes, even if you're selling your home as a FSBO, the chances are good that you might end up working with an agent, particularly a buyer's agent. So don't forget that he/she is working for the buyer and his best interests, not you or yours!

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7 Costly Mistakes of Home Buyers

Ron Moore The Home Team Pros (RE/MAX Professionals) — Mon, 22 Dec 2008 11:48:04 -0600

I'm sure someone has observed that while smart people learn from their mistakes, wise people learn from the mistakes of others. Unfortunately, the cost of learning from one's own mistakes can be considerable, and mistakes made in the home buying process can cost thousands! That's why I've prepared and posted 7 Costly Mistakes of Home Buyers. Learn from the experience of others by avoiding these costly mistakes:

1. Not getting pre-approved. It's not only time consuming but disappointing to look at houses, negotiate a contract, and then learn that it's out of your price range. .That's why many sellers won't negotiate seriously with a buyer who isn't pre-approved for a mortgage.

2. Buying the wrong home. Nothing is as disappointing as buying a home that doesn't meet your needs. But you must also know the difference between needs and wants. So consider things like the number of bedrooms and baths, square footage, size of yard, age of the home, proximity to schools, shopping, and work, desired amenities, etc. Set priorities and evaluate homes accordingly.

3. Paying too much for the home. You make money when you buy a house, not when you sell it. To do this, however, you need to know if the asking price is high or whether it's a good deal. Only appropriate market research will help you know the difference.

4. Committing contract faux pas. Make sure everything is in writing. What's not written isn't enforceable. Pay attention to the TIME IS OF THE ESSENCE clauses. Overlooking these deadlines can be costly. Make sure all contingencies are clearly written out and that everything, including any changes, are properly dated, initialed and signed. Use a bill of sale for transfer of personal property.

5. Not getting inspections or a home warranty. Trying to save a few dollars here could cost you thousands later on. The only way to know for sure what you're buying is with a professional home inspection. Even if you cannot negotiate for the seller to pay for a home warranty, it's well worth the few hundred dollars it'll cost for a year's worth of protection.

6. Failure to know all the costs. Due diligence is necessary here. Be sure you uncover the total costs associated with your mortgage, your closing attorney, inspections and warranties. Get a Good Faith Estimate from the lender and a HUD financial statement from the attorney before going to closing.

7. Choosing the wrong real estate agent. Not all agents are the same. Make sure you find one who is competent, skilled, and committed to serving your needs - before, during and after the sale! The right agent will help you avoid all the costly mistakes listed above.

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Five Open House Tips for FSBOs

Ron Moore The Home Team Pros (RE/MAX Professionals) — Sat, 20 Dec 2008 10:26:26 -0600

Open houses could play an important role in the selling of your home. You need to understand up front, however, that few homes are actually sold as a direct result of an open house, i.e., that someone who visits during the event would actually make an offer to buy the house. Why hold an open house, then? Exposure! This is the single biggest hurdle a FSBO has to overcome. The more exposure your home has, the more public awareness of your home, the more people are talking about it, the better chance you have of selling it. That's why I have prepared the following five tips to help you hold a successful open house.

•· ADVERTISE. Place an ad in the local newspaper the weekend before as well as the weekend of the open house. Don't forget to call well in advance to verify advertising rates and deadlines. Put a sign in your yard a couple days prior to the open house. On the day of the open house, use directional signs at major intersections directing traffic to your home.

•· CONTACT A REAL ESTATE AGENT. That's right! A real estate agent may consider holding the open house for you if you agree to pay them a commission on a sale and allow them to "work" the leads that are gathered at the event. By working with an agent, you have the added advantage of being able to notify all REALTORS and their buyers of the open house! Remember, EXPOSURE is crucial!

•· PROVIDE HOME FLYERS. The flyers should include a couple good pictures of the home, a brief description of the home, and a detailed summary of your home. Remember, emphasis the uniqueness of your home! This will provide buyers an overview of your home's features and amenities. You could provide information like the size of rooms or a summary of utility costs and property taxes. Be creative and colorful but not too busy (lots of white space).

•· PREPARE YOUR HOME. You will waste a lot of time and money if you don't get this part of the open house right! So, clear the house of all clutter, thoroughly clean the home (consider professional cleaning), add some flowers, turn on the lights, open the curtains and blinds, put your pets in a day kennel, and make sure your home has curb appeal. As a precaution, put away all personal items and valuables. Set up a table near the front entrance for your brochures and other property information.

•· USE A GUEST SIGN-IN SHEET. Have a place for guests to sign in. Include a place for their name, address, telephone number and email address. There are two primary reasons for this: 1) Security. If anything goes wrong or disappears, you need a record of attendees. 2) Follow-up. Remember, even if they don't make an offer on your home, you want them talking about it. So, the day after the open house send them a note card or letter thanking them for their visit. You might even call them and ask them what they thought about your home and how it's priced (Be prepared to accept criticism kindly, however). And, if you have a price change at a later date, you can contact them again.

I hope these tips help. Best of luck on your open house!

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FSBOs Have Maranda Rights Too!

Ron Moore The Home Team Pros (RE/MAX Professionals) — Fri, 19 Dec 2008 08:23:05 -0600

The 1966 U.S. Supreme Court ruled that police had to inform suspects of their "Maranda Rights" before interrogating them. Those rights begin with "You have the right to remain silent. If you give up that right, anything you say can and will be used against you in a court of law. . . ." As we look back on this ruling, it only seems fair in light of the Fifth Amendment which is designed to protect citizens against self-incrimination.

Most states also have similar "Maranda" statutes, titled Agency Disclosure, that are designed to protect the public's best interests when talking to a real estate agent. In South Carolina those statues require that every licensed agent must do two things before any substantive conversation with the general public takes place about buying or selling real estate: 1) The agent must first clearly identify himself as a licensed real estate agent, and 2) He must then provide a copy of and discuss the Agency Disclosure Brochure.

Now this is a very important issue for FSBOs. As soon as they put a For Sale By Owner sign in their front yard, real estate agents will begin calling or dropping by. All too often the FSBO isn't told by them about his "Maranda Rights" -- You have the right to remain silent. If you give up that right, anything you say can and will be used against you in negotiations to buy your home! You see, confidentiality, or the lack thereof, is one of the core issues of Agency Disclosure. That's why the public as a whole, but FSBOs in particular, must be informed upfront that as an unrepresented seller, what they tell a real estate agent about themselves, their home or their motives for selling isn't protected by confidentiality. Knowledge gained from such conversations can, and most likely will, be used by an agent against the seller if he finds a buyer for the house.

So, for whatever it's worth, here's my advice to FSBOs. First, don't even sit down to talk about your home with an agent if they do not provide you a copy of and discuss with you the Agency Disclosure Brochure. They are breaking the law! Secondly, if they discuss the brochure but do not emphasize the issue of confidentiality, politely show them the door. They don't have your best interests at heart. Thirdly, be careful about answering questions like "How long has your home been on the market? Have you had any offers yet? Are you willing to negotiate the price? Why are you selling? When do you want to move? " These questions are designed to reveal the level of your willingness to negotiate. Fourthly, don't ever forget FSBOs have Maranda Rights too!

You have the right to remain silent. If you give up that right, anything you say can and will be used against you in negotiations to buy your home!

www.RBMoore.com mailto:Ron.RBMoore.com

Don't Get Fleeced with a Lease!

Ron Moore The Home Team Pros (RE/MAX Professionals) — Mon, 17 Nov 2008 14:39:01 -0600

I know that it is a difficult market for sellers. I also know that the sluggish market is tempting many homeowners (or are being tempted by real estate agents) to accept a lease with option to buy offer. BE CAREFUL! There aren't many agents who know how to properly write these contracts or are knowledgeable enough to explain the enormous risks to the homeowner. So if your are seriously considering this option, get competent, professional help from someone who knows and can explain the risks before signing any agreement.

If you live in the Florence, SC market and want to sell your home or have been tempted to consider a lease with option to buy contract, give me a call. I'd love to help. If you'd like more consumer help, check out my website at www.FlorenceHomeTeam.com.

It may be Harder Than You Think To Find a Good Real Estate Agent

Ron Moore The Home Team Pros (RE/MAX Professionals) — Mon, 17 Nov 2008 07:48:28 -0600

Are you looking for a good real estate agent? It may be harder than you think for a couple reasons. I recently heard some staggering statistics from our state's real estate commission. It seems that the top two complaints of consumers about agent services, or lack of them, as the case may be are:

1) Ignorance -- that's right. The number one complaint is that agents just don't know what they're doing! That's not surprising, however. Agents with little raining and less supervision are allowed to write contracts worth hundreds of thousands of dollars. They ddon't know how to write a contract that protects their client and avoids potential misunderstandings. They have no negotiation skills. They are clueless about what it takes to bring a transaction to a successful and smooth conclusion, etc., etc., etc.. And the sad reality is that so many won't take the time or invest the money to learn!

2) Misrepresentation-- There's a very distinct line between misrepresentation and fraud; it's called intent. "Did the agent intend to mislead?" becomes the question. Unfortunately, there are too many agents who have chosen the path of "willful ignorance" and do not exercise "due diligence" on behalf of their clients. Others are guilty of "puffing" which walks a fine line between expressing their opinion and outright lying. It's little wonder that the public opinion of real estate agents is so low!

My advice to anyone thinking about buying or selling real estate is to interview several agents and ask them some very specific questions. Test their knowledge and competency. Ask them to explain how they work and what you should expect as a buyer or seller. If they can't do that to your satisfaction, find another agent! Now for a final word of caution: Don't equate experience (years in the business) with expertise, knowledge and competence. They're not the same.

For more helpful consumer tips, check out my website at www.FlorenceHomeTeam.com

A New Construction Buyer's Best Friend

Ron Moore The Home Team Pros (RE/MAX Professionals) — Fri, 14 Nov 2008 16:38:04 -0600

OK, I know I'm going to get hammered by my colleagues for this post. I know that there are many arguments why every Realtor should feel free to sell new construction. And that's fine. I just believe that every new construction home buyer deserves better. Let me explain.

First, too many Realtors don't know much about how to build a home. Now I know that's not necessary to sell one but it is important if you're going to provide professional help to a buyer -- before and after the sale. I believe that any agent wanting to sell new construction should become certified as a new home specialist (CNHS). It's not hard and isn't very expensive. Short of that, my advice to new home buyers is that they don't use a Realtor who isn't certified.

Secondly, many Realtors don't seemingly know the difference between a spec home and a custom built home when it comes to pricing. When agent don't realize that there is a reason why it cost $10 to $50 more for a custom home, it creates impossible expectations and makes meaningful negotiation impossible.

Thirdly, most agents don't know the standards set by their state for residential builders. Most states have printed books that are free for the asking. Far too many have never seen one let alone read one. Every new construction buyer should expect that their agent not only have a copy but be thoroughly familiar with it's contents.

Fourthly, most agents don't have a clue as to what a builder's responsibilities are after the sale of a home and, therefore, don't know how to help their clients when problems arise. If you're a buyer interested in purchasing a new construction, here's what I'd tell you to do. Ask the agent you're working with what a builder's responsibilities are after the sale. Then call the state's residential builder's commission and ask the same question. If the answers are significantly different, get another agent!

For Realtors, none of these are insurmountable problems to overcome. A little time and training is all it would take. So if you want to be a professional new home sales agent, take the time and get the training!

For new construction buyers, however, the problem is much more easily resolved. Find a certified new home specialist (CNHS) and use him. I just happen to know a good one!

Three Huge Financial Mistakes of Home Buyers

Ron Moore The Home Team Pros (RE/MAX Professionals) — Fri, 14 Nov 2008 15:34:56 -0600

As a full time professional Realtor in Florence, SC, I have seen three huge financial mistakes made by home buyers over and over again. Although they seem so simple to avoid or correct, it's often difficult to get buyers to understand how these three biggies can sabotage any attempt to purchase a home. Here's the advice I give my clients right up front when they begin their search for homes in Florence.

1. Review your credit! About six months before making an offer on a home, pull your credit report from any of the three major providers (Equifax, Experian or TransUnion). You don't want any surprises here. Evaluate it. If you find errors, fix them. If you have a few problems that need correcting, do it. The difference between a sub-600 and 700-plus score can cost a buyer as much as 3% or more in interest rates. That's a huge hunk of change!

2. Get pre-approved! Notice that I did not say "pre-qualified," which means virtually nothing in today's market. In order to get pre-approved, the lender must look at your credit score, calculate your expense to income ratio, etc. Without going into a lot of detail, here are just a couple reasons why this is so important. (a) The top range for the amount of money you can borrow will be established. You need to know this when looking for a home. (b) Your offer will be taken much more seriously by a seller if it is delivered with a pre-approval letter from a reputable lender attached. This could give you the edge over another offer that is similar to yours. (c) In our market, more and more sellers are refusing to consider offers that are not accompanied by such documentation. There have just been too many transactions fall apart on the way to closing.

3. Don't take out any new credit during the transaction! You would think this would be common sense but most people don't realize that new credit accounts (whether you actually use them or not) affect their score. So don't buy that car, accept that new credit card, open an account at a department store, etc. Most underwriters are rechecking credit scores a day or two before closing. If there have been any significant changes, the loan is subject to being pulled.

For a bonus though, I'd like to add one more huge mistake I see all too often. Unfortunately, there are too many Realtors who salivate just thinking about talking you into doing it. Most of the time loan officers can get people approved for more money and higher payments than what they really need or what their family budget can easily handle. Don't let a Realtor talk you into maxing out your approval limit if there are plenty of other options available. If necessary, cut back on your "wants" in a house so you don't stretch your family's budget and become house poor. Where's the joy in home ownership if you are stressed out making those payments?

If you would like a FREE copy of my special report "49 Essential Tips Every Home Buyer Should Know" just go to my website at www.FlorenceHomeTeam.com and you can either download or print out a copy.

All About Florence

Ron Moore The Home Team Pros (RE/MAX Professionals) — Sat, 08 Nov 2008 20:25:37 -0600

All About Florence

Florence Local

     Florence is a beautiful town located in the heart of the Pee Dee at the I-95 and I-20 exchange. With a population of approximately 31,000 residents, Florence has become a favorite for business expansion and retiree relocation.

     As the hub of the Pee Dee, Florence's two hospitals, the Carolinas Hospital System and the McLeod Regional Medical Center, serve 12 counties. They are nationally known for their innovative and specialized patient care and have contributed significantly both to the quality of life and economic growth throughout the Greater Pee Dee Region of South Carolina.

     As an educational center, Florence is the home of Francis Marion University, Florence-Darlington Technical College, and the newly opened Southeastern Institute of Manufacturing and Technology.

     Along with the counties surrounding Florence, you'll find an abundance of fishing and hunting. Hunting clubs and preserves are numerous throughout the area and are easy to find. There are over 25,000 acres of public access to area State Parks and Forests. Area game includes lots of white-tail deer, turkey, hog, and game birds.

     Devoted fisherman can enjoy their favorite sports on many of the local streams and lakes, including Jefferies Creek Park, Lynches River State Park and Santee Cooper Lakes. The lakes at Santee are nationally know for their bass, catfish and crappie fishing.

     Being less than 75 miles from the coast, the inlets and beaches of the region make for excellent open water fishing. With the mild temperatures and the Gulf Stream warming the Atlantic throughout the winter, you can join the many who have made fishing a year-round hobby.

     For more information on the major parks in the region visit our South Carolina State Parks website.

If you are looking for a new home in Florence, SC and the Greater Pee Dee Region, begin your search on my free buyers website, www.FlorenceHomeTeam.com. This site is filled with buyer helps, free reports, a dream home finder, access the entire Florence MLS database, information about local schools, and much, much more!

Local Area Information

Community
Police Dept	City Hall
Fire Dept	Courts
Post Office	Attorney
Library	Social Services
Churches	State Gov
Senior Serv	Chamber
Child Services	Civic Center
Entertainment
Movie Theaters	Bars/Clubs
Video Rental	Bowling
Museums
Food and Dining
Seafood	Italian
Sushi	Chinese
Mexican Cuisine	Cafes
Recreation
Parks & Rec	Golf Courses
Sporting Goods	Cycling
Hobby Shops	Ice Skating
Martial Arts
Shopping
Shopping Malls	Grocery
Dept Stores	Farmers Market
Jewelers	Florists/Floral
Boutiques	Home Improve
Travel & Lodging
Hotels	Taxi Services
Travel Agents	Car Rentals
Airport	Limousine

Florence Tour of Homes 2008

Ron Moore The Home Team Pros (RE/MAX Professionals) — Fri, 03 Oct 2008 12:20:37 -0500

The Home Builders Association of the Greater Pee Dee announces its 2008 Tour of Homes. With over 30 homes ranging in price form $100,000 to over $400,000 participating in the Tour, consumers will have a tremendous selection. The Tour is scheduled for October 4th - 5th and October 11th - 12th. Homes will be open on Saturdays from 10am to 5pm and on Sundays from 1pm - 5pm. For more information and to download a Tour of Homes map, just follow this link http://www.hbapeedee.com/tour.php to association's web page. If you have any questions, call (843) 665-5885 and they will be happy to help.

The picture above is of the 2008 Board of Directors. The picture below is of Carolina Townhouses, one of the participants in this year's Tour. These two and three bedroom townhouses run from $99,900 to $112,900. They are conveniently located near Carolinas Hospital just off Pamplico Hwy. If you're looking for affordable housing, check these units out!

Florence Little Theatre Programming

Ron Moore The Home Team Pros (RE/MAX Professionals) — Fri, 03 Oct 2008 08:29:00 -0500

Make your reservations now for Florence Little Theatre's performance of The Miracle Worker. Performances begin October 24 and will run through November 1. For a complete schedule, showtimes and reservations go to http://www.florenceweb.com/FLT/shows.htm or call (843) 662-3731. The theatre's new facilities are located at 417 S Dargan Street in downtown Florence. learn more about the history of the Little Theatre, go to http://www.florencehometeam.com/PageManager/default.aspx/PageID=2112452.

Announcing New Web Page: All About Florence

Ron Moore The Home Team Pros (RE/MAX Professionals) — Thu, 02 Oct 2008 13:58:55 -0500

If you're looking for a source to learn more about Florence, SC, this new web page will get you off to a good start. Just go to www.AllAboutFlorence.com as your gateway to local knowledge. The page has numerous links to government, hospitals, school district, local weather, higher educational facilities, the local library and museum, art centers, state parks, real estate services, etc.. etc. There's something for everyone so check it out today!

Finding a Home in Florence without an Agent

Ron Moore The Home Team Pros (RE/MAX Professionals) — Thu, 02 Oct 2008 12:25:11 -0500

       FINALLY, there is a website especially designed for the home buyer who wants to find a home in the Florence and Greater Pee Dee Region of South Carolina while in the privacy of their own home and without the intrusion of a real estate agent.  That's right!  They can go to http://www.florencehometeam.com while wearing pajamas and sipping their favorite beverage to access every home listed in our local Multiple Listing Service (MLS) -- that's thousands of homes in Florence, Darlington, Dillon and Marion counties -- all without an agent looking over their shoulder and breathing down their neck!

       Need to find helpful consumer resources, mortgage tools, buyer aids and special reports? This site is loaded. Want to learn more about Florence and the Greater Pee Dee? Check out the All About Florence page. There you will find links to local government, schools, hospitals, the local theatre and many more. We know of no site that offers the home buyer as much local information and as many helpful tools as this one.

       Now we know that you're thinking something like, Yea, a real estate site without a real estate agent? What's the catch? So let's address a few of those questions.

1. Is this a real estate agent's site? Yes. Virtually every one out there is. But here's the difference: the agent sponsoring this site respects your privacy and understands that in the initial stages of your home search you really don't want or need to talk with an agent.

2. Will I have to register? Yes and no. MLS rules require registration to gain access to their listings. But to reap the benefits of the many other features found on this site, no registration is required.

3. Will I be contacted by an agent? No, not until you request or have need of specific information or services that only an agent can provide. You will receive an initial customer service follow-up call by a staff member to make sure you're finding the information and help you need. But that won't be by an agent and it won't be a sales call!

4. If all these services are free, what's in it for the sponsoring agent? A feeling of self-fulfillment and helpfulness to humanity! O.K., you're not buying that.  So let's try this. We know that by staying out of your way while providing these valuable services, there's a strong likelihood that when you need an agent you'll call us. It's really that simple.

5. Will I be obligated to use the sponsoring agent for any future home purchase? Absolutely not! Your use of this site is FREE and without any FUTURE OBLIGATIONS.

Just the facts, please!

Ron Moore The Home Team Pros (RE/MAX Professionals) — Mon, 15 Sep 2008 21:07:19 -0500

I addressed the issue of change in this election cycle in an earlier blog. Here, I would like to make the following observations about the changes already brought about by Obama and the Reed/ Palosie Congress. Here are the simply facts.

The price of gasoline in 2006 was less than $3.00 per gallon. Since Democrats gained control of Congress it has hit $5.00 per gallon. Sen. Obama has said that was ok but he just wished it hadn't got there so fast!

Natural gas has risen from $12.54 in December of 2006 to over $18.00 in 2008.

Unemployment in 2006 was at 4.6% and today it's over 6%!

Inflation was just 3.39% in 2006 but is currently increasing at a 5.6% rate!

The Consumer Price Index was at 201.6 in December 2006 but is now a whopping 219.9!

Financial institutions are failing left and right on Wall Street - and that's just this week!

Now those are the facts! Since Obama's Democratic Party took control of Congress things have gone south rather rapidly. The truth is, the underlying indicators of our economy were pretty good in 2006 and if they have deteriorated as greatly as Obama and his campaign excoriate, then he doesn't have to look any further than his own Reed/Palosie controlled Congress! It has happened on their watch!!

And as for the failure of financial institutions Fannie Mae, Freddie Mac, Merrill Lynch and Lehman Brothers, guess where the bulk of their political contributions went? To Obama and other Democratic candidates. The top five recipients from the failed Fannie Mae and Freddie Mac are: Dodd, D NY, Kerry, D MA, Obama, D IL, Clinton, D NY, and Kanjorski, D PA. The figures are similar for Lehman Brothers. The CEO of Merrill Lynch, Stanley O'Neal, has given the maximum in personal contributions to the Obama campaign, not to mention the many thousands of dollars in corporate and employee contributions. No wonder Obama and the Democratically controlled Congress hasn't been able (or willing) to address the real economic needs of the average American!

Now you can argue these facts anyway you want but you can't change them! They are the facts. Congress controls the budget; and, they control wether or not we will explore our natural resources for the national security and economic interests of our country.. Shouldn't they be held accountable for holding our nation's future hostage with their special interest politics? Shouldn't they be held accountable for allowing their thirst for regaining political power in Washington to bring economic suffering to average Americans? It only seems fair to me.

The Democrats made a lot of promises during the 2006 mid-term elections but haven't delivered. Now they promise more change. Change? You've got to be kidding! You bet I want it! But I say to Sen. Obama and the Reed/Palosie Congress, "We can't afford anymore of your kind of change!."

What Can You Tell Me About Home Seller Assist?

Ron Moore The Home Team Pros (RE/MAX Professionals) — Wed, 20 Aug 2008 15:55:15 -0500

Does anyone out there have any firsthand experience with Home Seller Assist? As I understand it, they use private funds to buy owner carried notes from home sellers at closing. I've got a call into them to find out what it's all about but haven't heard from them yet. But, I'd really prefer to hear from any of you who have had experience with them. After all, referrals are always the best advertisement and endorsement. Thanks.

Rookie Mistakes and Broker Responsibilities

Ron Moore The Home Team Pros (RE/MAX Professionals) — Tue, 19 Aug 2008 18:44:42 -0500

Please forgive me, new agents, but I've just got to get this off my chest. I don't mean any offense to you directly. After all, it wasn't that long ago I was one of you. My real complaint tonight is not so much with you as it is with those who hire you, train you and supervise your work. An event happened with one of the members on my team that illustrates that there is far more hiring going on than training and supervision!

Without going into a lot of detail about the counter offer we received from a rookie agent, the proposal was completely off the wall, inappropriate on it's face and patently contrary to standard listing contracts and MLS broker listing rules. In essence, it was an invalid counter offer. There's only one way it ever made it out of the brokerage - a seasoned agent never saw it!

We've all had experiences like this, not just getting these kind of offers or counter offers, but finding ourselves in the novice's position of having to write an offer or counter offer without broker training and supervision. To this I say two things:

1) Broker, if you're not going to train and supervise new agents, don't hire them. If you do, YOU are the problem, not the rookie agent.

2) State licensing and local MLS boards, it's time to pass a rule that a rookie agent cannot write an offer or counter offer for their first 12 concluded transactions without an appropriate reviewing agent's signature on all the offers, counter offers and contracts of those transactions.

Rookies, I'm on your side. You deserve better!