The Nelson Project Austin Real Estate Blog

Things I Saw in the MLS This Morning (hint: expect more)

Julie Nelson (The Nelson Project / Keller Williams Austin) — Tue, 17 Nov 2009 10:24:28 -0600

I am working on an analysis in the MLS this morning and thought I would share some observations. I am studying a list of 18 homes either for sale or sold recently in Milwood in Austin, TX. A few things I see:

- Agent remarks: "Great house." That's it, nothing more.

- Living room photo (both living room photos): dog & cat on the carpet.

- "Hall bath has FUN, updated wall paper." It is neither.

- Use of less than half the space in the remarks section.

- Assessing a list of 18 homes in Milwood; only 4 have virtual tours.

Expect more.

Home Selling by the Numbers

Julie Nelson (The Nelson Project / Keller Williams Austin) — Mon, 16 Nov 2009 13:35:48 -0600

You have 3 minutes to sell a house; everywhere the eye looks, the sale begins.

Most buyers decide in 30 seconds if they like the house.

There are 4 first impressions:

1. curb appeal

2. in the front door

3. kitchen

4. out the back door

You will get the most showings on your house in the first 3-4 weeks.

The list price to sales price ratio drops at 10 days, 20 days and 60 days; days on market effects selling price.

90% of real estate litigation involves sellers' failure to disclose.

20% of the Realtors do 80% of the business.

90% of newly licensed Realtors are out of the business in one year.

80% of FSBO's end up using a Realtor.

GET THE FACTS ABOUT OWNER FINANCING

Julie Nelson (The Nelson Project / Keller Williams Austin) — Sat, 20 Jun 2009 10:36:01 -0500

This is a sound cautious approach to owner financing ...

Via Florida Realty Network LLC:

A very effective method of selling real estate in a buyer's market is to consider offering owner financing, which can offer both the buyer and seller many benefits in the selling and financing of real estate.

Unlike many seller's who may end up giving a deep discount to sell their property outright, owner financing will likely allow the seller to sell their property at a fair price, plus could provide additional income in the form of monthly payments that could either help pay the debt service on their property or go right to the bottom line, potentially adding more dollars to the sales price over time. The buyer's benefit by securing a property that can help them establish or re-establish credit that over a period of time can help them secure a low interest mortgage loan and receive potential tax benefits as well.

Unfortunately, very few property sellers consider offering owner financing simply because of the complexities involved, which include what types of financing to offer, how to qualify potential home buyers, what documentation to ask for, and so on. There are many financial and real estate professionals who offer their services to help sellers get all of the information and documentation necessary to successfully secure owner financing for themselves and their buyers.

There are several types of owner financing currently available, and depending on the seller's current circumstances will determine what type of owner financing they can offer to a potential buyer. The most common types of owner financing available include a Land Contract, Agreement for Deed, Contract for Deed, Lease with Option to Purchase, and a regular promissory note secured by a mortgage.

If a property seller owns their property free and clear, meaning no mortgages are currently secured by the property, the seller can choose any of the financing options listed above. If however, the property seller currently has a mortgage on their property, they are limited to offering all of the financing options listed except for the note and mortgage loan, unless of course the seller can pay off their mortgage and replace it with a seller held note and mortgage. These other financing options could be considered a wrap around mortgage, which encompasses the seller's existing mortgage with the additional loan amount which is based on the sales price and the down payment.

Before a seller and/or buyer considers getting involved with an owner financing arrangement, several steps must be taken and full disclosure from both parties must be acknowledged to fully understand each parties responsibilities to the real estate transaction. The buyer needs to be fully aware that the seller is in a position to offer owner financing, and is not experiencing any financial difficulties with their own mortgage. As for the seller, they need to know that the buyer will be in a position to get their own mortgage in the near future, and eventually purchase the home outright. Depending on the buyer's circumstances regarding their income and/or credit, the exact term of the owner financing must coincide within the timetable necessary for the buyer to complete the sales transaction.

Therefore, it is highly recommended that both buyer and seller seek professional advice to make sure that any type of owner financing that is considered will work for both buyer and seller. This advice can be very inexpensive to both buyer and seller, and can save a lot of headaches later.

Owner financing is a tremendous tool for sellers to help them sell their home quickly and at a better price and could potentially add income benefits as well.

For free information on the benefits of owner financing for both the buyer and seller, please call 941-206-6000.

Mike Sikorski, GRI

Licensed Real Estate Broker

Licensed Mortgage Broker

Florida Realty Network LLC

22079 Kimble Avenue

Port Charlotte, Florida 33952

Phone 941-206-6000

Email Mike@FloridaRealty.net

Web site www.FloridaRealty.net

THE ALTERNATIVE OF OWNER FINANCING

Julie Nelson (The Nelson Project / Keller Williams Austin) — Sat, 20 Jun 2009 09:57:20 -0500

Notes for sellers ...

This may or may not be an option for a seller for a number of reasons:

Your current mortgage may not allow it
It could impact you qualifying for a mortgage on your next property

You may be interested for some of these reasons:

If it is a strong buyers market
If your home is for some reason difficult to sell, this option could reach a segment of the buying market that is otherwise limited
It could be a better return than your more conventional investments

Via Kathy O'Neal (The Kathy O'Neal Team - RE/MAX Premier):

[PLEASE NOTE: Attorney John Pitrelli continues his series on what home buyers and sellers should know about practical legal matters in the current real estate environment.]

Recently, I have seen a renaissance in the use of owner financing in real estate settlements. This is not surprising, since owner financing can be a powerful tool for buying and selling property, especially when bank financing is difficult to obtain.

One of the most frequently used methods of owner financing is the Contract for Deed or Installment Land Contract. With this method of financing the Deed to the property is held in escrow and not recorded until the Seller (Owner) held financing is paid in full. The buyer will enjoy all the benefits of home ownership recognized by IRS, even though the Deed to the property has not been recorded.

In my next post I will explore common myths about Contract for Deed and the advantages and disadvantages of that method of owner financing.

Another method of owner financing is the Seller held Deed of Trust. With this method of financing the title to the property will immediately pass to the Buyer. A security instrument (Deed of Trust) will be recorded in conjunction with the Deed to the property affording the Seller a foreclosure remedy in the event the buyer defaults on the loan. A carefully drafted Deed of Trust will provide maximum protection for the Seller and still meet the requirements of the Virginia code.

In situations where owner financing is feasible there is extreme flexibility in how a deal can be structured. The settlement costs are substantially less since there are no lender fees. The need for formal appraisal is eliminated. I still urge Sellers to exercise prudent underwriting of their loan, by checking credit and employment, but tempered with common sense if credit issues can be explained. To this end the help of an experienced real estate professional is invaluable.

There are many buyers out there that cannot currently qualify for traditional bank financing. They may be victims of the housing bubble burst, yet they need a place to live and are otherwise viable buyers. Owner financing may be the answer for these potential buyers and for Sellers who are willing to take a risk to sell their property.

[The Kathy O’Neal Team serves home buyers and sellers in Northern Virginia, with special focus on Chantilly, Centreville, and the communities of the Western Fairfax region.]

Trudging through Texas Real Estate: What to expect from the Contract Option Period as a buyer or seller

Julie Nelson (The Nelson Project / Keller Williams Austin) — Thu, 12 Mar 2009 13:56:07 -0500

The option period in Texas contracts is a tool to assist with fair and timely negotiation processes between buyer and seller. It allows a set amount of time for a buyer to perform due diligence and inspect the property while compensating the seller for this lost time in ‘Active Status' for sale on the market. It's a bit of a lemon law approach in real estate and helps protect the buyers from a really bad inspection.

The option period is paid up front when submitting an offer, and it is not refundable if the buyer terminates the contract. The option fee is paid in consideration for this initial time under contract and the home is changed to ‘Pending Status' in the MLS System because it is no longer actively listed for sale on the market. The buyer has their negotiated amount of time to inspect the property and understand these findings. Upon final closing of the property, the buyer is reimbursed for the option fee at closing. This comes in the form of a credit from seller to buyer on the Settlement Statement at closing. If the buyer terminates the contract for any reason, the option fee is the seller's to keep.

As a buyer, the option period in Texas Real Estate specifically offers the buyer the unrestricted right to terminate a real estate contract - for any reason. The amount of time is typically 7-10 days in the Austin Tx real estate market, or it could be longer or shorter depending upon what buyer and seller have agreed upon during the original contract negotiations. The buyer pays the seller a negotiated ‘option fee' up front for this option, and set amount of time. This fee typically runs around $200-$500 on an average transaction. The amount might also indicate how serious the buyer's intent to purchase the home is, as well.

Most often, the buyer uses this timeframe to have the property inspected, to check on homeowners insurance for the home, and to understand the results of the home inspection report. We assist buyers in understanding what the report is detailing and suggesting, as well as what the scope and pricing of those projects would look like. We have several reliable professionals we work with to obtain pricing and bids for projects from miniscule in size to quite large in scale. We help our buyers plan for future repairs and understand general maintenance involved with homeownership, and this empowers our buyers to know when a home is right for them. Of course, most basically, we assist the buyer with repair negotiations and requesting repairs from the seller during this time period.

Every buyer wants to move into a solid and mechanically safe home. This means that the roof, foundation, plumbing system, electrical system, HVAC, and hot water heater are in good working condition. This may not mean they are sparkling like new, but they are performing as intended. If something were awry with one of these systems, that is a repair the buyer might request of the seller during the option period negotiations. All repairs agreed upon between buyer and seller are noted in writing, signed by all parties, and the repairs must be completed by closing date or a date otherwise agreed upon in writing. This agreement in writing takes place on a form called the ‘Amendment to the Contract' in Texas real estate.

To a seller, the option period is not the most anticipated event during the home purchase process. Sellers often feel invaded during the inspection process. Who wouldn't when a person you do not know is combing through the systems of your home looking for imperfections? Sound horrible? Well, it doesn't have to be horrible for a seller.

If you've ever put off a ‘hone-do list' of pesky home repairs, getting to those can be essential if you are getting ready to put your home on the market for sale. Be it the list of chores you'd do for your spouse, or if the in-laws were coming to visit, that distant and overly avoided list of to do's needs to be done. If all of these descriptions sound unfamiliar, this is also the list The Nelson Project will give you when you are getting ready to list your home on the market for sale. Do not negate the importance of this list. Changing out air filters, stopping minor leaky faucets, replacing the dryer vent, tightening the loose toilet bolts, mulching the garden...attending to these details can save you so much headache, and possibly heartache, in the end! Our proactive sellers have better experiences time after time during contract negotiations and during option period negotiations.

Outcomes of the option period are typically an agreed upon list of repairs or an allowance for repairs. When a home is found to be in tip top shape, sometimes the option period is only there for the buyer to make certain of that fact. On the most exquisitely maintained homes, one item or another will be noted by the inspector, so don't let that be a surprise either. For more specifics on option period negotiations, see our blog article: Top 10 Repair Negotiation Tips for Buyers & Sellers.

Go green, drink beer

Julie Nelson (The Nelson Project / Keller Williams Austin) — Sat, 07 Mar 2009 13:19:46 -0600

We are so pleased to announce our latest go-green project in our own home in Austin, TX ... new bathroom counters made from recycled beer bottles! I must add that this works in nicely with our lifestyle in more than one way.

We took a 1980's type bathroom

and put in our cool new Granite Transformations counter ... it is a granite composit, only about a 1/4" thick made from recycled granite and, our particular choice, recycled beer bottles!

And a close-up ... they're actually quite beautiful ... and there is one bright green chip of a Heineken bottle in the mix ...

Check out Granite Transformations: http://www.granitetransformations.com/index.aspx

An email conversation between a buyer and a lender

Julie Nelson (The Nelson Project / Keller Williams Austin) — Sat, 07 Mar 2009 13:02:15 -0600

We wrote this post today to help buyers who are considering waiting to buy vs. buying now. It's a conversation between one of our favorite lenders, the Realtor and the buyer. We think there are buyers out there who may find this helpful:

http://smartrealestate.wordpress.com/2009/03/06/an-email-about-waiting-to-buy-or-not-waiting-the-numbers/

The Nelson Project . Keller Williams Realty . austin . tx . 512.794.6608 . www.thenelsonproject.com

www.searchAtown.com

www.TNPforsale.com

email us for a "coming soon" list of properties: info@thenelsonproject.com

The Texas Economy Is Strong

Julie Nelson (The Nelson Project / Keller Williams Austin) — Fri, 06 Mar 2009 09:17:40 -0600

Via Keith McMullin, Broker/Realtor (Port Aransas Realty, Inc):

What is the Texaplex?
David Winans coined the term "Texaplex" to describe the triangular region of Texas that contains 75% of the state's population. Watch the video and see why everyone is talking about the Texaplex.

The Texaplex Project
The global financial crisis is a vicious cycle. The more we hear and talk about it, the worse it gets. However, in spite of all the national bad news, Texas is prospering! Texas, and in particular the Texaplex, has some pretty impressive facts that most Texans weren't even aware of. This video is part of the Texaplex project which has set out to change that.

Did you know that the Texas Real Estate market is one of the strongest in the nation? Did you know that half of all new jobs created in the US were in Texas?

Watch the video and visit the website for more details.

Family Reunion & Activerain Meet UP

Julie Nelson (The Nelson Project / Keller Williams Austin) — Wed, 18 Feb 2009 19:16:41 -0600

Great post on an AR gathering at the KW national convention in Orlando this weekend ... Saturday night Rosen Backstage

Via Missy Caulk-Ann Arbor- Realtor(R)- Ann Arbor Real Estate (Keller Williams-Ann Arbor):

This Saturday, February 21st-February 25th, Keller Williams is hosting their annual Family Reunion in Orlando.

Liz Moras and I have been planning a place for all of us on Activerain attending the event to get together and meet face to face.

Saturday night the Guess Who concert is from 5:30 to 7:00, so after the concert we are planning an Activerain Meet Up at Backstage in the Rosen Plaza Hotel.

The Rosen Plaza is located close to the Orlando Convention Center so there will be shuttle buses available, and shuttle buses back to your hotel (if you are staying in one of the recommended hotels)

I spoke to the Rosen Plaza and the BackStage can accomodate around 60 people.

Liz and I thought it would be more fun to meet early during the convention so we could recognize each other and connect at other events.

If you have never been to an Activerain Get Together and met fellow bloggers, you will have a blast. It is so much fun to meet your computer friends in real life.

Please reblog this post to get the word out to the agents that follow you here in the Rain coming to Family Reunion.

I can't wait to meet you at the BackStage at the Rosen Plaza Hotel !!!

TIME: 9:00 to 11:00 P. M.

P.S. Chris Griffith and I will be speaking at a Break Out session on Monday at 2:45, on Catch People in Your Web. If you are speaking, just add your name and session in so we can attend.

How to not improve the heating efficiency of your home

Julie Nelson (The Nelson Project / Keller Williams Austin) — Mon, 16 Feb 2009 13:30:41 -0600

We try to be green in our own home and have been a little concerned with the efficiency of our furnace lately. We believe we have discovered the source of the problem. See the video:

It's worse when Kirby is on one register and Lucy on another ... at least in this video, they are both on the same one. At least the cats are warm. So much for the dining room.

A Sample Market Analysis Email or New Agents: How to Write a Solid CMA Email

Julie Nelson (The Nelson Project / Keller Williams Austin) — Mon, 09 Feb 2009 10:46:15 -0600

I met with my new sellers on Friday and told them I would fine-tune my analysis (once I had seen the house and assessed their needs ... sell fast? Sell for the most $$? Etc) and would get back to them by Monday. I am posting this on ActiveRain in the spirit of helping newer agents ramp up the learning curve of bringing solid value and analysis to their clients. Here is the email I sent out Sunday afternoon (I removed a little confidential info):

I really enjoyed meeting with you Friday afternoon and look forward to working with you. I love your home and have already told a couple friends about it ... one friend actually thought for a minute that perhaps she should buy it ... but that passed and we'll move on to other possibilities.

I have reviewed the market this afternoon and have some recommendations. The links below will show you the fine-tuned comps (vs. the larger list we discussed Friday). This is a list of 4 homes currently for sale and 4 homes sold in the last 6 months that are newer construction in the area in the $500k - $700k range with similar sqft. I looked north of 25th and south of 55th and from about Exposition over to Duval ... roughly. Going back 6 months is a little far (but 90 days gave us 2 solds and 6 months gave us 4) ... October and November solds are ok as the market had shifted by then.

The good news is I think we are on target for $/sqft. The bad news is a few were on the market for some time ... but a few were on less than 30 days. We hope to be in the 2-digit category.

So $/sqft for the active range from $220 - $279 with a $259 average. The solds $227 - $268 with a $254 average.

Link 1 [purposefully removed]

Link 2 [purposefully removed]

My price recommendations: I think the $270-275 / sqft is a good starting point which puts us in the $670k - $685k range. Any higher than that and we will be the highest $/sqft on the market and we do not want to be there. If you look at the solds, that would suggest we should be more in the $650k - $670k range based on $/sqft. So it depends on your comfort zone which tact to take. The general consensus in the market right now is to take the low or moderate road for, I think, obvious reasons. Your thoughts?

A few details on our marketing plan. I plan to personally call or email Realtors I know who are active in central Austin with higher-end clients. I already have one high-end Realtor friend that I want to give a sneak peak opportunity to and may have a few others (Realtors love to get a look before it goes on the market). Additionally, I am going to personally reach out to everyone I know who lives near by and everyone I have access to who is or know docs in central Austin. Open houses will depend on your comfort zone ... it will bring in the neighborhood so that may not be high on your list ... we are flexible.

A note on sign vs. no sign and your desire to keep things quiet ... I believe your neighbors (probably all of them) are going to find out pretty quick that the house is on the market. I have no problem not doing a sign but I just want you to recognize that word spreads fast. An important part of my outreach will be to talk with my friends in the neighborhood ... they have kids, they walk their dogs ... word spreads quickly especially with the kid and dog-walk network and these folks know folks who would like to live in the neighborhood.

I would like to order the virtual tour shoot asap and that requires that I have the listing documents signed. I can order the photo shoot Monday and could probably shoot within 2-3 days and could possibly be on the market by the weekend. Or if we need to slow down a bit, we can certainly do that.

I look forward to your response.

Comparing school districts: Dripping Springs, Georgetown, Lake Travis and Leander

Julie Nelson (The Nelson Project / Keller Williams Austin) — Sat, 07 Feb 2009 11:02:41 -0600

I am looking for some honest, straight-up, not sugar-coated opinions on Austin-area school districts. Namely, I have a prospective buyer moving to the area and she is considering and assessing Dripping Springs, Georgetown, Lake Travis and Leander ISD's.

I know the websites with rating & TAKS comparisons and so does she. What we are looking for are your opinions and honest take on things like environment, school board, leadership, headed in the right direction or otherwise, sports vs. arts etc ... the stuff that is not in the ratings.

So, your opinion?

Know someone who needs to buy a house but keep the transaction confidential?

Julie Nelson (The Nelson Project / Keller Williams Austin) — Wed, 04 Feb 2009 16:14:07 -0600

A friend of mine works with the courts in victim services and asked me if there is a way a person can keep their information confidential if they buy a house, so people can't easily research them? Sounds like a very good question coming from someone in victim services.

A buyer may have some serious legal or familial issues that makes this critical to their well-being or safety.

I did a little research and, yes you can. I found this on the Travis County tax appraisal web site:

http://www.traviscad.org/FAQ.pdf

HOW DO I REQUEST CONFIDENTIALITY UNDER SECTION 25.025, TAX CODE?

You may download the "Request for Confidentiality" from our forms page. Send your completed

form to: Travis Central Appraisal District, Records Management Officer, Post Office Box 149012,

Austin, TX 78714-9012 If you own more than one property, please provide each property address

to ensure confidentiality. TCAD records will be promptly updated to reflect confidentiality.

However, it may take 2-3 weeks before the website reflects the confidentiality.

Also, when a seller puts a house on the market, the seller's name does not have to be listed in the MLS in Austin. The MLS listing can say "on file." This requires a little paperwork with the seller documenting the request, but it can be done.

Just Listed ... Cute 1/1 Condo in Quiet & Well Maintained Complex

Julie Nelson (The Nelson Project / Keller Williams Austin) — Tue, 03 Feb 2009 17:28:26 -0600

Click Here for Virtual Tour and Current Pricing

7920 Rockwood Ln. #217

Location: Austin, TX

- 2 Walk-in Closets
- Crown Molding
- Just steps away from laundry area
- Storage area
- Quiet & Well-Maintained Complex
- City bus stops in front of Complex
- Gorgeous pool & grounds

24-hr Recorded Information
800-803-1955 Ext: 2005
Txt Msg: KW100 To: 23333

Photo Gallery

Information

Contact Information

The Nelson Project

info@thenelsonproject.com

800.803.1955

Pricing

Price: $95,900.00

Homeowner Dues: $239/Monthly

Property Location

7920 Rockwood Ln. #217
Austin, TX 78757

Links

Virtual Tour

Features

Bedrooms: 1

Bathrooms: 1

Parking Spaces: 1-RSVP

Year Built: 1968

Subdivision: Royal Orleans North

Located on Floor #: 2

Floors in Bldg: 2

School District: AISD

Square Footage: 666

Agent Name: Julie Nelson

Broker: Keller Williams

MLS #: 6824111

Attributes

Appliances

Range/Oven

Dishwasher

Sink Disposal

Microwave

Building Amenities

Swimming Pool

EQUAL HOUSING OPPORTUNITY

VFLYER ID: 2225948

All information in this site is deemed reliable but is not guaranteed and is subject to change

Real Estate Baggage: The Walking Wounded, Earning Their Trust

Julie Nelson (The Nelson Project / Keller Williams Austin) — Mon, 02 Feb 2009 18:15:48 -0600

So there are some buyers, sellers, real estate consumers out there, maybe your friends and neighbors, who have had some not so great real estate experience. They have real estate baggage and may not trust us or, at best, are cautious. We have to earn their trust.

Not all consumer real estate experiences have been positive or smooth or trustworthy or in the hands of seasoned professionals. These potential clients may be coming to us with an edge, some baggage. When that is the case, the consumer may hold back information and, we've all been here, may simply be clinically non-committal or may think we do not bring that much to the table.

It's a low bar to get your real estate license but it's a high bar to make it in the business with a loyal following. I think the best thing we can bring to the table is our integrity and hopefully we will have an impact on the walking wounded. You also need to bring your professionalism, your plethora of knowledge, your hard work and attention, your backup, your boundaries, your designations, your team. And yes, we will show a few properties now and then to folks who really do have an agent or to folks who really do not want to tell us the truth ... but some of them will come around because we earned their trust.

What are you reading?

Julie Nelson (The Nelson Project / Keller Williams Austin) — Mon, 02 Feb 2009 09:02:53 -0600

Feed your mind, feed your soul, feed your business.

These are the books I am currently working my way through:

Real Estate v2.0: A Professional's Guide to Dynamic Websites, Blogs, and Podcasts, Danielle Babb & Alex Lazo
The 21 Irrefutable Laws of Leadership, John C. Maxwell
You, Staying Young: The Owners Manual for Extending Your Warranty, Michael F. Roizen, M.D. & Mehmet C. Oz, M.D.
How to Reduce Your Carbon Footprint, Yarrow
Antmen Carry Away My Thoughts As Soon As I Think Them, Steven Appleby
44 Uses for a Dog, Ziefert / Mckie
this morning's paper

What are you currently reading?

Top Quality Architect's Remodel

Julie Nelson (The Nelson Project / Keller Williams Austin) — Fri, 30 Jan 2009 14:30:34 -0600

Click Here for Virtual Tour and Current Pricing

2401 E. 10th St.

Location: Austin, TX

Top quality architect's remodel including bamboo, travertine, spa tub and a great kitchen. This 2/2 has high quality appliances, maple cabinets, recessed lights. Breakfast area with patio door overlooks deck, large fenced yard & mature shade trees. Stone detailing on porch, walkway and planters. Great emerging east Austin location 1 mile to downtown, 1.5 to UT.

Virtual Tour
www.2401E10.com
24-hr Recorded Information
800.803.1955 Ext: 2065
Txt Msg: KW147 To: 23333

Photo Gallery

Information

Contact Information

The Nelson Project

800.803.1955

Pricing

Price: $223,500

Property Location

2401 E. 10th
Austin, TX 78702

Links

Virtual Tour

Features

Bedrooms: 2

Bathrooms: 2

Year Built: 1939/ Updated

Subdivision: Grandview Place

Garage Size: 0

School District: AISD

Square Footage: 925

Agent Name: Julie Nelson

Broker: Keller Williams

MLS #: 5426767

Attributes

Appliances

Range/Oven

Full Refrigerator

Washer/Dryer

Dishwasher

Sink Disposal

Microwave

Exterior Amenities

Patio

Fenced Yard

EQUAL HOUSING OPPORTUNITY

VFLYER ID: 2146266

All information in this site is deemed reliable but is not guaranteed and is subject to change

$2,269 out of thin air - 3rd Party Funds Recovery or Does HUD owe you money?

Julie Nelson (The Nelson Project / Keller Williams Austin) — Sat, 24 Jan 2009 11:53:45 -0600

I have lived in Austin, TX 15 years. 15 years ago, when I moved to Austin, I sold my FHA-financed first home in Minneapolis.

Yesterday, January 2009, I get a call from a stranger suggesting the government owes me some money on xyz Morgan Avenue in Minneapolis. With a little distrust, it got my attention.

I called the number. Still more distrust when the phone was answered with just a simple "hello." My response something like, "Uh, is this a business line?"

So, this gal works from her home, she gets lists from the federal government of names & addresses that the fed owes money to. In this case, a refund on a HUD MIP for a home sold 15 years ago.

So I ask some more questions. Like, how does she get paid? You guessed right ...me, 25% of any recovered funds. So I ask the logical question of "not any disrespect for your effort but, can I get the refund myself direct from HUD without paying a fee?" Thankfully she was an honest person and said, "yes, as a matter of fact, you can and [here she got frustrated] most people I call do just that ... I'm not sure how I'm going to make any money at this ... I am just trying to earn some extra cash and this sounded easy." (I thought scripts & dialogue, scripts & dialogue ... but did not go there.) I thanked her for her time and emailed my favorite lender who shot me a website with info.

So I get a 1(800)Bangladeshi nice guy on the line and 20 minutes later I have all the detail and know exactly what I need to do to collect my $2,269. Sweet!

I have to get recorded deeds from Hennepin County and fax a notarized letter. Hope to see my cash within a couple months.

Lost Wallet ... pay it forward

Julie Nelson (The Nelson Project / Keller Williams Austin) — Fri, 23 Jan 2009 18:51:16 -0600

So I pull in to the Central Market parking lot this past Tuesday and I was pretty sure that was a woman's wallet I was about to run over. Huh? I stopped, of course, picked it up and proceed to a parking space.

I start looking through the wallet, feeling a bit intrusive, I see her license, I see we go to the same doggy day care, I check the name ... I'm just looking for a phone number, a business card. Found one.

Check the name real quick, put on my glasses to read the phone number and dial. As I begin to hear her voice mail intro I notice the business card in my hand is for a store that is right in front of me. Oh, excellent! She works right here.

I march in, ask for MJ (not her real name), I see she is running around a bit frantic, I overhear someone say the word wallet, I announce I have it. What a super relief for MJ ... she checks it real quick to make sure everything is there (it should be, there's no way it could have lasted more than a couple minutes in the middle of the parking lot).

She tries to pay me. She's trying to stuff a few $20 bills into my pocket.

I anticipated this.

I refuse. Say she would have done the same thing.

I hand her my business card. She says "you're a Realtor?" I say "I'm a very good Realtor." And "please keep me in mind if you know of someone who needs a good one." She looks me in the eye, pauses, shakes her head slowly and agrees that that would be a nice way to thank me.

New business? Maybe. A good day? Definitely.

Lost wallet ... pay it forward.

Vacant is supposed to be vacant, right?

Julie Nelson (The Nelson Project / Keller Williams Austin) — Fri, 23 Jan 2009 18:05:51 -0600

What's up with vacant and then there's obviously someone living in the house?

Or kind of living in the house. We've all seen it, right? The listing says vacant / go and we go, probably even still ring the doorbell, and you open the front door and right away you think "this does not look super vacant." You cautiously round the corner and you see a flat screen tv, a mattress on the floor and a pizza box laying around. That is not super vacant.

At that point you get nervous that perhaps you have walked in on someone, you get the heebee-geebies and scoot out of there quickly.

Let's say the house is pending, listed as vacant, and you are looking at a few properties in the neighborhood to compare to a house you're about to list. We do this all the time, right?

So listing agents, if the house is vacant, let's have it be super vacant.

If a relative or doing-a-friend-a-favor friend is sleeping on a spare mattress for a couple weeks, let's change that listing from vacant to NOT-SO-VACANT, call for appt etc.

Just this week, a house was pending, I am doing my homework for a seller in the neighborhood, doing a quick view of all the vacant homes in the neighborhood (and a couple occupied) and sure enough ... flat screen tv, 2 nice guitars on stands, mattress on the floor, a suitcase. I got 5' into the house and got out of there quickly. What if that guitar-playing, temporarily-living-out-of-suitcase OCCUPANT / friend / family member had been napping or in the shower? Maybe they have a baseball bat? Maybe they have a mean dog?

Agents, if the occupancy / vacancy status changes on a listing please, do us all a favor (including the temporary occupant), and change the status in the MLS.

Visit to Lake Austin

Julie Nelson (The Nelson Project / Keller Williams Austin) — Thu, 22 Jan 2009 15:54:54 -0600

A sunny January day on the shore of Lake Austin by the 360 bridge ... an Austin gem between Northwest Hills and Westlake, near Jester, just south of 2222. It's great to take the dogs for a walk here this time of year because you don't have all the usual summer boating traffic. Austin and Boy Howdy joined me and had a good time in the lake playing fetch.

A Hike in Northwest Hills

Julie Nelson (The Nelson Project / Keller Williams Austin) — Sun, 18 Jan 2009 16:21:03 -0600

So it is a 70 degree sunny January day in Austin, TX and we decided to take a hike into the greenbelt in our backyard, just outside our back yard. Steck Valley Park is in Northwest Hills. It starts where Steck ends and it ends at 360. No one really knows it's a park except for the neighborhood. There are a few trails but they're rough. We are in a draught in Austin and there is still fresh water in the greenbelt ... so a couple active springs to keep the wildlife around. So here are 3 quicky videos we took on the hike today:

A closer look at what's selling in the Austin area

Julie Nelson (The Nelson Project / Keller Williams Austin) — Sun, 18 Jan 2009 12:34:20 -0600

Article in Statesman today: A closer look at what's selling in the Austin area

It's only half the story ...

So you may have read the story on the front of the Homes section of the Statesman this morning (http://www.statesman.com/business/content/business/stories/statesmanhomes/01/18//0118pending.html). The article gives a run down of the homes that were showing as pending (under contract) in the MLS Jan 5-11. It is basically a price breakdown of what was / is under contract in Austin right now. They point out a very real fact that more than 77% were below $400k and half were between $100k - $200k. The lower priced homes market in Austin is in much better shape than higher price brackets.

But what really is selling? The article gives us a price breakdown ... that is half the story.

Here's the other half: condition.

My mantra to sellers right now: price & condition, price & condition, price & condition.

If you run the numbers and see that right now there are 30 homes for sale in your neighborhood and approximately 5 are selling per month, you need to ask the question "how can I be one of the 5-10 to sell in the next 30-60 days?". Here is the formula: make it look better than all the others and price it in the lower 25-50%; if your home has some handicap (busy street, condition, marginal floor plan, cluttered, tenant occupied, higher price range, enormous utility line in the back, neighbor with pit bulls etc), then face the truth of the handicap and price it in the lower 10%. If you have not gone to look at 4-6 other homes for sale in your neighborhood with your Realtor before pricing and listing it, then you may be missing the boat. Buyers are very picky right now and they can be with the highest inventory in Austin since 1990; they have a lot to choose from.

Price & condition, price & condition, price & condition. We'll nail the marketing; you need to nail price and condition.

Facetime: Facebook addiction and your time

Julie Nelson (The Nelson Project / Keller Williams Austin) — Fri, 16 Jan 2009 09:24:36 -0600

Do you spend too much time on Facebook or know some professionals who do? Are you making the most of it or wasting time? Facebook can be a valuable tool for your business if you do the right things and, this is important, don't do the wrong things.

Facebook is a cool tool and I have found college and high school friends and reconnected with folks and found great links and seminars I was not aware of and, this is the best, have had clients put a comment on their wall about me ("I have the best Realtor, she just saved me $3,000" ... and they put my website). It can also be a solid professional tool ... but you have to be cool.

Some cool rules:

it is weird and creepy and people don't like it when you blatantly promote your business on Facebook with things like ... "hey, I'm a Realtor, call me" ... not cool ... stay cool on Facebook or your friends will either turn off comments from you and write you off as someone they are not interested in doing business with
if you post business content , you must post personal content
if you post business content, make sure it is interesting or relevant or has value
if you post business content, give credit where credit is due
read a cool article on time.com or money.com? there will be a button on that page to automatically post it to your Facebook ... and when it's a timely and valuable article, your Facebook community will notice

With all that said, a friend posted this on Facebook this morning, a great Wikpedia post on how to not waste time on Facebook: http://www.wikihow.com/Avoid-Wasting-Time-on-Facebook

Happy online networking.

Web 2.0

Julie Nelson (The Nelson Project / Keller Williams Austin) — Fri, 16 Jan 2009 09:12:06 -0600

Attended an exceptional class in Austin today with Perry Henderson, WEB 2.0 for Real Estate. The class is days away from being an MCE class. Perry knocks it out of the park on this topic. Here are a few things I picked up this morning:

google maps - get your name, company and address on their and set up your full profile, you'll get more google hits
posting your blogs twice say in both AR and wordpress is no-no ... the google ranking gods will flag you as junk and you'll fall to the bottom in SEO ranking ... twice = bad (stay tuned for another blog on this topic)
Perry says the best blog is short'ish (50-100 words) and 2 per week
valuable content please ... fluff NO, valuable content YES ... duh
if you feel you're out of topics for the day or have writers block, just use this formula: "what I like least (or best) about xyz is ... "
Facebook ... if you have over 1200 friends in Facebook, you will be identified as a spammer and they'll shut you down (no more updates from friends)
Craigslist tip: when you repost a listing, delete the old listing

For more tips, attend Perry's next class TBA.