The NICKMAN Chronicles

HVCC has "big brother" written all over it...

Nick K. Manning, CNE (Tierra Antigua Realty) — Tue, 30 Jun 2009 16:24:54 -0500

Hello Fellow Professionals,

If the HVCC (Home Valuation Code of Conduct) hasn't hit you squarely between the eyes yet, it soon will. When it was first thought up, the proposal was well intentioned to make appraisals more fair and keep as many hands off the appraisal process as possible. What this bill has ended up doing is something far from a good-intentioned effort.

Take a look at this to learn a lot more:

http://www.appraisalpress.com/news/articles/hvcc_the_cure_is_worse_than_the_disease/

After you read this and stop your blood from boiling over, get ready for longer escrow periods (the underwriters are already seeing to this, but the appraisal process is going to make it longer as well) and get ready to work on your powers of reasoning with disgruntled clients. This is nothing more than government beaurocracy at its damnedest. And just wait until the IVPI kicks into high gear (another government invention to oversee).

I guarantee that with these market hindrances, we have a much longer period of recovery in the housing market.

Get ready, get set and wait................................

Best of Luck!

Time for a REALTOR TEA PARTY against ridiculous "new rules" of lenders

Nick K. Manning, CNE (Tierra Antigua Realty) — Tue, 12 May 2009 21:00:07 -0500

From one extreme to another. Lenders, Wells Fargo and Countrywide now BofA have decided that its in THEIR BEST INTEREST to tighten, no strangle the rules regarding loans in the USofA. They have gone from giving money to anyone with a pulse to "pissing off" some of their best clients. When you receive over $45 Billion from our wonderful government, who needs to loan money. Just take the money and roll it over into some money-market programs that will show the bottom line is beefed up. Don't worry about the many consumers out there needing decent loan programs, let them shop elsewhere - we need to cover our own butts and show the government that we are doing great.

And Congress, lets not address the number 1 issue in the land - THE HOUSING CRISIS with a great program that would give $15,000 to everyone who buys a home. Lets put up something that sounds neat, an $8000.00 tax credit for 1st time home buyers to buy up the massive inventory in the land. Of course the folks who are qualified for this can't afford a down-payment, but Barney and company say its the best way to go. Good job to all of our "voted into office" folks in that part of the government. I hope you enjoy your 15% raise this year. Life is good if you are a politician.

Well, its time to take action against the "same old, same old" in this country. Rise up Professional Realtors and fight back. Push back against the lenders who determine that they will decide what commissions to pay, closing costs and other costs associated with a successful transaction. Push back against the tyranny of the system that is going to start charging a tax against your business. Push back or be swallowed up by the "2 party system" that acts more like school children than our elected officials.

I call for action now that we all send a message to the Lenders, Mortgage Brokers, Title Companies and 3rd-party groups who are involved in OUR BUSINESS every day. Stop setting up "new rules" as you wish. Stop determining that you are gods. Stop your interference and allow good deals to happen.

Lets take back this business of our - REAL ESTATE. NOW AND FOREVER.

In Spirit and Triumph - Thank you all for your consideration.

Lenders are changing the game at will...

Nick K. Manning, CNE (Tierra Antigua Realty) — Tue, 12 May 2009 16:55:30 -0500

Hello Fellow Professional Realtors,

Wells Fargo has struck again. Short Sale Home being purchased by my clients for $250,000. Appraisal comes in at $265,000. Great neighborhood - Active Adult Community in NW Tucson. Clients putting 20% down and fully approved. Not so fast - At the 11th hour +, some idiot underwriter decided that my clients needed to put an additional $50,000 down because the home they were purchasing is in the same neighborhood. And with 4 days until closing, my clients are walking away from wf. (I'm sending them to another broker that will get the deal done) These clients owe nothing, have impeccable credit and were going to sell their current home (fully paid for by the way) at below market pricing.

Where's the sense in what Wells Fargo did and why the timing? Oh, and these folks had been doing business with wf for years and years. Emphasis on had been. Oh and this is a short sale so I need to go begging to another lender to extend the timeline to completion.

Another case of being at the mercy of inept lenders who complain all the time about the market and their issues and can't find a way to make a solid deal work. Spread the word around about this ridiculous way to treat customers by an institution that is all too glad to take "rescue" money and now hoard for their good and not the customer's.

The scoop on the best place to get your leads...

Nick K. Manning, CNE (Tierra Antigua Realty) — Sat, 28 Mar 2009 09:31:24 -0500

The results are in and the overwhelming response to lead generating outlets is: Your Own Sphere of Influence. Only a few of the hundreds of responses had any kind of success with "lead referral sites". And many respondents had tried referral sites with little to no success.

This is a great example of why its so important to dig deep into your contact list. It becomes your very source of revenue over time and if worked properly will provide a steadiness to your business. And who hasn't experienced the ups and downs of the business of being a professional Realtor.

Farming, advertising, blogging, open houses, vehicle signs, business cards, promotional items and more to your local area (your area of expertise) will drive more business your way to keep your business moving along. And don't forget about your industry contacts - Title Company Contacts, Mortgage and Banking Contacts, Appraisers, Home Inspectors, Termite Inspectors, Home Cleaning Companies, Plumbers, HVAC Contacts, Roofers and more. You'll be amazed at how quickly your "sphere of influence" list grows by the week.

But in the long run, it still comes down to this: IT'S ALWAYS UP TO YOU TO MAKE IT HAPPEN.

Don't let anything stand in your way and keep up the great efforts. The journey should to be as fun as the finish.

All the very best for continued success.

When change is not really change after all...

Nick K. Manning, CNE (Tierra Antigua Realty) — Thu, 12 Feb 2009 08:22:48 -0600

Well, our wonderful elected community of politicians has done it again. With an opportunity to provide a "stimulus" to our nation, they provide a package that is going to provide a paltry $13.00 extra per week for most. But a great majority of this wonderful group got the "pork" requests they had been seeking for many months, if not years.

How about the stimulus for the heart of the problem - Housing? The much talked about $15,000 tax credit for all homebuyers has been scrapped and a compromise of $8000 for 1st time home buyers was passed. Simply put, much ado about nothing. What an incredible let down to our economy and it appears that nothing really has changed.

This majority of this stimulus bill will not affect the economy until sometime in 2011 and what shape will the "housing crisis" be in by that time? Nearly every economist in the world has identified that the "housing crisis" must be resolved for the credit issues to be remedied. Nearly everyone in the media is reporting on the "housing crisis" every day and try reading a paper, watching the nightly news or checking on the internet without thinking that the housing crisis is not the #1 issue.

I say what a crock! Politics as usual in Washington, DC. No change that I can see.

What do you think?

Time to take the initiative on short sales with the banks

Nick K. Manning, CNE (Tierra Antigua Realty) — Thu, 22 Jan 2009 21:35:13 -0600

Hello Fellow Professionals,

Its safe to say that nearly everyone has had a Short Sale experience if you've been in the business for more than, lets say an hour or so. And if you have had the experience, then you probably have had "issues" arise in the process.

Try as you might to get the deal done, the short sale process can throw up some incredibly difficult obstacles. Whether its due to a listing agent that isn't completely confident of what to do and when to do it, to a Seller that is typically in the dark for much or all of the process, to our favorites, the Banks who seem to do everything in their power to mess the deal up.

Its the Bank who I wish to discuss and get feedback on. Yes the bank, who finds itself in a difficult position of taking a "hit" on the loan in question. NOTE: We won't discuss the loan policies of the bank that may have led to this - that is a question for our esteemed leaders in Congress like Mr. Franks.

We'll concentrate on the systems or lack of systems set up to handle the many or thousands of short sales that are coming at them on a continuous basis. The "Loss Mitigation Departments" which always seem to be overworked, understaffed and mostly confused. The lack of communication during the process which drives most Realtors over the edge - not to mention the poor Buyer (Definition: Buyer - one who actually buys a property and they do exist) to stand in wonder at what has become of the process.

I submit to you that we the Professional Realtors who are a part of the NAR need to start fighting back and stand up for our rights. Fight for the rights of our clients - the Buyers. Fight for the right to make a reasonalbe commission and not just what some banker decides they are willing to pay because the Realtor can take it or leave it. NOTE: And we usually take it because we wish to make our client - the Buyer happy as is our fiduciary and moral responsibility.

We need a greater say in the process. The banks of this great nation have nearly all been given a tremendous loan to keep in business. The loan has come out of every one of our pockets and the pockets of the buyers in this country who assist in keeping the economy going. Why do we have to "cow tow" to the banks? Is it our fault they lent the money to the poor person who is now losing the home? Is it our fault the bank did not completely explain all the ramifications to the poor person who is losing their home of the many aspects of the loan. Is it the fault of the buyer in the process that is trying to make a purchase that will take some inventory off the bank's books?

It is time for this system to be streamlined. It is time for the banks to understand that it is the Professional Realtor who can relieve the stress of their high inventories. It is the Professional Realtor who is out there finding buyers for these properties every day. Working to make a living by COMMISSION and who risks all on a daily basis and who strives to work within a reasonable process whereby everyone wins to whatever degree and the economy keeps on chugging along.

The time is now my fellow Professional Realtors. Stand up and take charge. Lets get the system back on an equal basis, a timely basis and a fair basis for all involved.

Keep up your incredible efforts and I wish you all the greatest success in life.

A SALUTE TO ALL MY FELLOW PROFESSIONAL REALTORS & ASSOCIATES OF OUR GREAT INDUSTRY

Nick K. Manning, CNE (Tierra Antigua Realty) — Wed, 31 Dec 2008 08:52:11 -0600

HAPPY NEW YEAR!

Time to look back briefly and look ahead optimistically for we are about to embark into a YEAR OF WOW! Homes are being bought and sold every day and how will you get your share in your market? This is an everyday business. Every day you do something positively, earnestly and honestly attracts opportunities in your marketplace.

Everyone in our PROFESSION (Yes, We are PROFESSIONALS), has discovered that you have to get your name out there is some way every day. This is not an easy way to make a living, BUT it is a meaningful way to explore your passion. The many aspects of our business provide more avenues-to-contacts than nearly any other business out there. Think not, well nearly everyone out there is a potential client - there are loads of folks out there looking to buy and sell homes and you just have to find a way to get them. Its always up to you to find a way to connect, to make contact and to get your name on the tongues of these potetial clients.

If you have discovered that being a Realtor is your "PASSION", then the journey will continue to be exciting and filled with wonder at all the opportunities. If you have tried but struggled to your dismay to find out that this might not be the way to go - get out and find your "true passion". For if you are not in this wonderful business 100%, then you cannot do justice to your clients and more importantly to yourself.

2008 was a year of moving up in the ranks of the Tucson MLS and we earned our way into the top 150. Not bad for only 2 1/2 years in the biz, BUT not the ultimate. 2009 is going to be the year of WOW and moving up farther up the ranks. BUT, more importantly it will be a year of continuing to explore my PASSION FOR REAL ESTATE, growing our list of happy clients and discovering new and exciting ways to get the name out into the market.

I wish for all of my FELLOW PROFESSIONAL REALTORS & ASSOCIATES IN OUR INDUSTRY the GREATEST YEAR EVER! And remember this...ITS ALWAYS IN YOU TO MAKE IT HAPPEN!

SALUTE!!!

OPEN HOUSE EVENT IN HIDDEN SPRINGS at DOVE MOUNTAIN

Nick K. Manning, CNE (Tierra Antigua Realty) — Wed, 03 Dec 2008 20:00:10 -0600

Hello to all my FELLOW PROFESSIONALS IN TUCSON, AZ,

Come out and join us and meet COVENANT BUILDERS and learn why their quality construction techniques exceed the standards. You'll meet the founders and their latest addition to the Custom Home scene in beautiful Dove Mountain. Also check out the "lot" opportunity across the street.

Thank you for your consideration and see you 12/14 from 1-4:30 PM

Why is Reply no-lead company still on Active Rain?

Nick K. Manning, CNE (Tierra Antigua Realty) — Wed, 03 Dec 2008 19:39:36 -0600

Hello Fellow Real Estate Professionals,

I posted this information some time back and many have responded with similar experiences. I notice that not one positive response was sent to me to let us know how good this company might be. I'm wondering why reply no-lead company is still on Active Rain - the best networking site for our industry.

If you are even considering using the poor services of Reply real estate, please think twice as this company is simply sending out useless leads to the areas for which you have registered. And once you receive any lead - as poor as they are - they charge you instantly. AND when you attempt to contact customer service to send the leads back, customer service is not available OR you get no response from anyone.

In this difficult environment, every dollar counts. In this difficult environment you need to work with companies that are professional, reliable and trustworthy.

I ASSURE YOU THAT REPLY REAL ESTATE IS NOT TRUSTWORTHY, NOT RELIABLE AND WILL SIMPLY TAKE YOUR MONEY IN ANY WAY THEY CAN.

Be careful out there! And call me with any questions or issues you have had with this ruthless company.

All the very best for success,

BUYER BEWARE - REPLY REAL ESTATE LEADS PROGRAM JUST PLAIN BAD

Nick K. Manning, CNE (Tierra Antigua Realty) — Tue, 02 Dec 2008 15:26:52 -0600

Hello Fellow Real Estate Professionals,

Since the company - Reply real estate advertises on this site, I thought I'd give it a try. All I got for my troubles were leads not even associated with my area and they could not even recognize 2 of the most important zip codes - one where I live and another that contain some incredible homes where I do my business.

They will bill you for leads that don't mean anything and their customer service is practically non-existent.

When you are looking for a good lead company, go anywhere else but Reply.

BUYER BEWARE OF REPLY.

Short Sales

Nick K. Manning, CNE (Tierra Antigua Realty) — Wed, 17 Sep 2008 12:40:53 -0500

Hello to all of my collegues in this great industry,

Have you been involved in a short sale yet? If not, you really need to dig deep for the facts and fiction of these transactions. If you have, then you understand how the process can be long, tedious and trying. The fact of the matter is this - with the state of our industry and market, nearly every Realtor will be involved in a short sale sooner or later.

Lets explore some of the key aspects of these transactions:

1. Why is the process as complicated as it is?

2. Why do lenders seem to be "at odds" in every step of the process?

3. Why do we as Realtors end up with the "short end of the stick" in nearly every transaction?

Answer to #1: The process involves getting an agreement between Seller of Home and Lender to Seller to allow the "short sale" to take place. Seller is upside down and owes more than either the home is worth or the current market-value of home. Seller cannot afford to make the payments any longer and takes action to get the home sold. The listing agent gets involved and sometimes a 3rd party negotiator is also involved (this is a new career that has developed due to the state of the industry). Lender is looking to get as much money back on the loan as possible (the rest is a write-off).

Answer to #2: The lenders in the industry are faced with an ever-increasing load of "short sale" requests. Their loss-mitigation departments are under staffed and cannot get to all the requests in a timely fashion. They all have procedures to deal with these requests that can take from 30-60+ days to get resolved. And they all want as much as possible from the transaction. They do not seem able to do anything in a timely manner and totally disregard the normal transaction times and contracts from any state.

Answer to #3: The Realtors in the process are just trying to make something happen for their clients. The listing agent must work diligently and carefully with a client that is strapped for cash, has very few options and somewhat desparate. The Buyer's Agent must do their research to ascertain the true value of the home and work on keeping the expectations under control of their clients in this lengthy process.

For both of these agents efforts, they end up with a process that takes much more time than the usual transaction, must deal with the aggravation of their clients on both sides and typically get less commission in the end.

It is in our best interest to stay with the process to successful completion, but something must be done about the untimeliness from lenders, lack of information and reduced commissions. For all of you Realtors out there, get to know this process asap. You'll be better off.

Good luck and all the very best!

The Season is nearly upon us in Dove Mountain & Oro Valley

Nick K. Manning, CNE (Tierra Antigua Realty) — Fri, 12 Sep 2008 10:21:35 -0500

Yes, it is football time again across our great country and for that we are truly joyful. But the season I refer to is the season when the NW part of Tucson starts to think about coming alive again. Its the time when the weather turns decidedly chilly and worse in most parts of the country and in the border country north. Its the time when the desert, yes, the desert that is so darn hot turns into a place that must be experienced for several seasons to truly understand.

Our family, friends, neighbors, associates and even collegues are starting to think about heading back to the Old Pueblo in numbers that stagger the imagination. Coming back to their "other home" in the great Southwest. Coming back to the comfort, better weather, change of scenery and warmth for minds and bodies that have grown accustomed to what is not new, but never ceases to enliven the spirit for a good long time.

We welcome you all back home. Can't wait to see those familiar faces. Can't wait to see the buzz again around the whole area. Can't wait to experience again the annual tradition of the throngs back again in our thriving community.

See you all real soon...