How's the Market? - 12/27/08 07:08 PM
Silly question? The answer depends on who you ask and how they look at it.
According to a National Association of REALTORS® article, there are four major home price indexes that market participants follow. They are the National Association of REALTORS® Median Sales Price, the Case‐Shiller Index group, and two Conventional Mortgage Home Price Indices, one by the Office of Federal Housing Enterprise Oversight (OFHEO) and one by Freddie Mac.
NAR uses a median sales price for their statistics. Half the homes sold sold for more and half sold for less. Doesn't matter how many bedrooms, how many stories, with a pool or … (1 comments)

Changes in Appraisal Requirements - 12/20/08 08:19 AM
Lately, on top of the difficulties faced getting buyers qualified, there have been appraisal issues as well. Lenders placing unrealistic (at least in our opinion) requirements for comparable sales, appraisers using foreclosed property sales as comps, etc...
As if that's not enough, have you seen the upcoming changes to Fannie Mae's appraisal requirements? Listed in Fannie Mae Announcement 08-30, dated November 14, 2008, Fannie Mae spells out some changes that will be required on any appraisal after April 1, 2009.
Current guidelines require an appraiser to report on the primary indicators of market condition for properties in the subject neighborhood by noting the trend … (33 comments)

Believe - 12/02/08 05:30 AM
Did you know that 2/3rds of the worlds billionaires started from scratch? That's right. They started with nothing. Well that's not exactly true. They had a couple things going for them. A couple things that they may very well have in common with you.
First they had a belief. A belief in themselves or in an idea. The belief turns into enthusiasm and the enthusiasm leads to a passion. A burning desire to accomplish their task.
How about you? Do you have a passion? Something deep down inside that you believe in? I bet you do. Maybe it's real estate. Maybe … (1 comments)

Monday - 12/01/08 10:09 AM
Good Monday Morning,
What's on your agenda for today? Are you waiting to see what's going to happen this week or do you have your plan mapped out? By this time you should be ready to start your daily prospecting. Contacting potential clients, past clients, following up on open house leads you may have picked up this weekend. Don't procrastinate, make your calls or do your mailouts.
An idea for those interested in network building is to look in the Sunday paper for meetings, clubs, etc... This can be a great source of ideas for you to meet people that could … (0 comments)

 
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Rick Snow

El Paso, TX

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First Choice Realty

Office Phone: (915) 317-6695

Cell Phone: (915) 329-5868

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Author Bio: Rick Snow is a real estate broker and educator in El Paso, TX. He is actively involved in real estate on a daily basis and produces a TV show, El Paso Homes TV and a weekly radio show, El Paso Homes Radio. Rick sits on the Executive Committee as Regional Vice President (Region 16) for the Texas Association of REALTORS® and serves on the Board of Directors for the Greater El Paso Association of REALTORS®. He is a Past President of the GEPAR MLS Board of Directors. Rick was selected as the 2011 REALTOR® of the Year for the Greater El Paso Association of REALTORS® and is a Faculty Member for the Texas Association of REALTORS® University



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