"Valley of the Sun Real Estate"

Willow Square Steal

2008-07-13T03:14:48Z

Willow Square Steal

Location: Phoenix, AZ

GREAT HOME, GREAT PRICE. This home has TILE floors throughout most of the house. There is a COVERED PATIO with HAND LAID brick floor. Both yards are SPACIOUS and have excellent potential. The front of the home has an automatic sprinkler system. Additional square feet not found in tax records. ALL APPLIANCES SUCH AS, THE WASHER, DRYER, STOVE/RANGE, REFRIGERATOR, MICROWAVE WILL ONLY CONVEY WITH A FULL PRICE OFFER. Brand new WASHER, DRYER, and Microwave. Refrigerator and stove/range are fairly new as well. Evaporative cooler is 1 year old. DOGS IN BACKYARD!!!! DO NOT ENTER. SEE THE BACK OF HOME FROM THE ALLEY. Needs some TLC.

Information

Contact Information

Ulises Romo

602-380-4890

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Pricing

Asking Price: $120,000.00

Flexibility: Negotiable

Additional Pricing Information: Appliances only convey with full price offer!!!

Property Location

2905 w. Roosevelt St
Phoenix, AZ 85009
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Features

Bedrooms: 3

Bathrooms: 2

Parking: Slab

Year Built: 1952

Subdivision: Willow Square

Lot Size: 6378

Garage Size: N/A

School District: Issac School District, Phoenix Union

Agent Name: Ulises Romo

Broker: PRO-formance Realty Concepts

MLS #: 3021113

Attributes

Appliances

Range/Oven

Full Refrigerator

Washer/Dryer

Microwave

Exterior Amenities

Patio

Fenced Yard

Grass Lawn

Tool Shed

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EQUAL HOUSING OPPORTUNITY

VFLYER ID: 1758625

Queen Creek Short Sale

2008-06-17T12:13:08Z

Queen Creek Majesty

Location: Circle Cross Ranch

Beautiful home with 3 bedrooms and 2 baths. Upgraded Granite Tile counter tops in kitchen, stainless steel appliances, Range/Oven, Microwave, Disposal, Refrigerator, Dishwasher, Pantry, and Kitchen Island. 18 inch tile floors. Home has a Den, Dining Room, and Great Room. Washer and Dryer are also included. There is also a Covered Patio for enjoying the backyard and entertaining. Great home for first time home buyers or a great family home. Best Buy In Neighborhood. IT IS A MUST SEE. MOVE IN READY!!! SHORT SALE, ALL OFFERS REQUIRE LENDER APPROVAL.

Information

Contact Information

Ulises Romo

ulisesromo29@yahoo.com

602-380-4890

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Forward to a Friend

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Pricing

Asking Price: $116,500.00

Flexibility: Negotiable

Additional Pricing Information: SUBJECT TO LENDER APPROVAL

Property Location

399 w. Corriente Court
Queen Creek, AZ 85423
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Features

Bedrooms: 3

Bathrooms: 2

Parking: 2

Year Built: 2005

Subdivision: Circle Cross Ranch

Lot Size: 1-7,500

Square Footage: 1472

Agent Name: Ulises Romo

Broker: Rudy Solstez

MLS #: 2926593

Attributes

Appliances

Range/Oven

Full Refrigerator

Washer/Dryer

Dishwasher

Sink Disposal

Microwave

Interior Amenities

Kitchen Island

Exterior Amenities

Patio

Fenced Yard

Grass Lawn

Photo Gallery

View as Slideshow View Photo Gallery (3 Photos)

EQUAL HOUSING OPPORTUNITY

VFLYER ID: 1573703

Valley Of The Sun Market Update

2008-06-01T22:39:29Z

I know I am a little late with my Market Update however I have been busy with clients so I guess that means I am doing something right. I am glad to report that business seems to be picking up again here in the Valley of the Sun. From multiple offers on homes that are well priced, to prices and interest rates being low, the market here in Phoenix is showing signs of life again.

Last year in the month of May there were 4,660 single family homes sold in the Greater Phoenix area. This year there were 4,869 single family homes sold in the area. While this may not be a large increase in home sales it does demonstrate the point I have been making for quite some time now.

I believe our market is bumping along the bottom here in Valley of the Sun. And that the time to buy/invest in real estate is NOW.

Ulises Romo, REALTOR®

PRO-formance Realty Concepts

Email: ulisesromo29@yahoo.com

Cell: 602-380-4890

Website: http://ulisesromo.point2agent.com/

Company Website: www.proformancerealtyconcepts.com

Real Estate In Mexico

2008-05-16T21:41:28Z

I have a buyer who is looking for me to refer him to someone who is versed in Real Estate in Mexico. If you do business there I would like to hear from you and know what you offer. He is not sure if he is ready to buy, but he is interested in renting a home first. So if you can help with any websites of your own, or those you know of with homes for rent/sale in Mexico I would be very grateful.

Greater Phoenix Market Update

2008-05-04T14:45:42Z

In the past I would run the numbers throughout the entire state of Arizona. However, I began to wonder what the true numbers are in the GREATER PHOENIX, ARIZONA area. So today I went into the MLS and I selected all the cities in the Greater Phoenix area.

This search includes cites in the East such as Mesa, Tempe, Scottsdale, Queen Creek, etc..., to cities in the North such as Anthem, Paradise Valley, Peoria, etc. This will also include sites in the West such as Avondale, Tolleson, Buckeye, etc..., or in the North West there are cities such as Surprise, Sun City, El Mirage, etc.

This pretty much encompasses the Greater Phoenix area. And the numbers for today's search are 37,411 single family homes for sale. If you we want to include townhomes, condos, lofts and all other listings the number comes to 45,242 for sale. However I feel that including them skews the numbers a little because you cannot compare apples to oranges. So from now on I will be searching single family homes for sale in the Greater Phoenix area.

Now I also ran the numbers for single family homes sold last month and numbers are better than I expected. There were 3,563 single family homes sold in the month of April. If we divide the number of homes for sale by the number homes sold in the month of April we would have just over a 10 month supply of homes for sale in the Greater Phoenix area. Now for those who don't know a healthy market of homes for sale is around a 6 month supply of homes for sale.

If we continue on the pace we are on now, it would only take several months to get to a healthier number of homes for sale. I believe that this year has been better in terms of buyers, more buyers are coming out to see homes and they are very happy with the prices. If we can convince more buyers that the time to buy is now we will have a better, healthier market within a year.

Have You Heard? ARMLS (Arizona Regional Multiple Listing Service) Will Be Switching MLS Poviders

2008-05-03T00:04:38Z

Recently I received an email that explained that ARMLS would be changing their MLS provider from TEMPO to FlexMLS Web in a couple of months. And from what I have seen from the demo/tutorial of FlexMLS Web, the new system will be a 180 compared to our current MLS. The features of FlexMLS Web are Web 2.0 friendly and seemed geared more the tech savvy agent. While I cannot write about all the features associated with the FlexMLS Web because I am not familiar with all of the features yet, I will describe some of the features I think are going to make our jobs easier.

First of all we will be able to add unlimited photos, documents, and we will also be able to make our own virtual and video tours with the new MLS. Compared to the new MLS, TEMPO would only allow six photos and we would have to pay for our own virtual tours. Also there is going to be a new feature that our current MLS does not have, which is a photo will be displayed on search results. On our current system we cannot see pictures on the search results. The only thing we can see in the search results is the information such as price, address, etc... To actually see the photos you would have to click on the MLS number and then click on the photo to open up the photo page. And then, there would only be six photos to see. And as we all know the more pictures the better. For example, how can you properly show a 5,000 square foot home with six photos? Which ones do you choose to display on the MLS? Photos help sell a home and our new MLS should help agents out in that respect.

A new feature on FlexMLS Web will make searching for comparable properties as easy as a click on the mouse. There you will be able to see average, median, low, and high values for homes we have highlighted. You will also be able to see the original list price, current list price, and sales price of comparable homes. Days On Market will be another feature you will be able to see on this screen, as opposed to our current MLS where you have to click on the history report to see this information.

The final feature I will describe to you which is one of my favorites because I believe it is going be a really big time saver when listing a home or showing a homes value to a potential buyer. I am talking about the fun tasks we call CMA's (Comparative Market Analysis). On our current system is a time consuming process that involves finding the subdivision, typing in dates for the last six months, active properties, pending properties, and sold properties. To make matters worse the system has no backup if you do not find comparable homes in the same subdivision. We would then have to search by area to find homes of similar size and value in the surrounding neighborhoods. I believe the new system does this automatically with the click of mouse too. This is going to be one of the best features of the new system.

MLS Rule Changes Being Pondered By The NAR

2008-04-28T18:10:51Z

It appears as though the NAR (National Association of REALTORS®) is pondering changes to rules concerning MLS's (Multiple Listing Services) and Short Sales. Rules that I believe are needed in our Local MLS. You see there are some things our MLS does not allow you to do because of rules they have in place. There are also some areas where concerns need to be addressed when it concerns short sales and bank owned homes. This makes it difficult when trying to sell or buy a home as a short sale or from a bank.

For example, there is the big problem associated with pricing Short Sales and bank owned. While there is no rule with how to list a home's price on our MLS, there could be a rule implemented that would require listing agents to price the home appropriately. Far too many homes being sold as short sales or REO's (Real Estate Owned) are underpriced way below a CMA (Comparative Market Analysis) and what is owed on the property. I have seen homes being sold for hundreds of thousands of dollars below comparables and what is owed on the home. Honestly, how many banks will allow you to sell the home for $200,000 less than what is owed?

I have found it to be a waste of my client's time and mine to make offers on homes that are not properly priced. I am sure you would all agree that it is no fun to negotiate a home's price in this market when we tell our clients home prices have fallen. And we end up negotiating a higher price than was anticipated. It was time that we could have spent looking at homes that were priced properly. Instead they falsely advertised the home's sales price below what would be accepted by the bank.

Next we come to the issue of commissions and what is owed to agents who are involved in a transaction. In our local MLS there are rules against changing the compensation owed to agents in the transaction. For example, if you as a listing agent advertise a listing with a 3% compensation for the Buyer's Broker/Agent, then you would owe that agent the whole 3%. Now it is a given if you work in real estate that commissions could and maybe negotiated, but that usually occurs with the listing agent and the home seller. However, in the current market with many homes being sold as short sales or bank owned, it is not up to the seller what the bank will pay to the agents in the transaction.

In fact, our MLS does not allow you to state in the remarks that commissions could be negotiated by the bank. Nor, is there a rule that states an agent should make it known that the home requires lender approval. As an agent I can tell you I think that many agents are who are unaware. I believe with a simple rule change all could become aware of this fact.

Personally I educate my clients with the ins and outs of buying and selling short sale/bank owned properties. However there are still many things I'm sure I am not aware of yet. But, I believe rules should be updated and implemented to better deal with the new market and challenges that come with selling buying homes as short sales/bank owned. This would make for better Agents who can help educat thier Clients.

Imnan News

http://www.inman.com/news/2008/04/28/industry-reacts-short-sale-rule-changes

Arizona Market Update

2008-04-22T23:47:38Z

As of today there are 55,632 listings, of those there are 45,556 single family homes for sale in Arizona. Listings are down from last months report where there were 57,797 home for sale, of those there were 47,461 single family homes. As you can see the numbers are looking better. Contrary to what I have been reading in the paper and online, the numbers are getting better here in Phoenix.

For example, Robert Shiller who helped create the Standard & Poor's/Case-Shiller home price index predicts home prices to fall lower than they did in the Great Depression. I know I am not a Yale University graduate like Mr. Shiller but I believe this man has gone over the deep end. This man may be very smart, however he is not in the trenches everyday like we are on a daily basis. We can tell what the market is doing before anyone else. We find out way before people who run these indexes get last month's numbers and make their predictions.

It is us REALTORS, Mortgage Bankers/Brokers, Inspectors, Appraisers, etc..., who know what the market is doing day to day. Anyone can sit in a fancy office and be a Monday morning armchair quarterback. But it is us who are out in the cold and heat busting our humps who know what is really happening in our markets. The first word of real estate is LOCATION, LOCATION, LOCATION. And markets are like rain clouds, it may be raining under one part of the rain cloud or, there may be sun shining through part of it where there is no rain. Unless you are out there in the thick of things there is no real way to know.

For example, my broker mentioned that last month (March) was the best month our company has had since 2006. And I have heard the same from other agents with different brokers. I believe that our market is still bumping along the bottom and we are very near stabilization.

Furthermore, from February 1, 2008 through February 29, 2008 there were 3,434 properties sold in Arizona. From March 1, 2008 through March 31, 2008 there were 4,298 properties sold in Arizona which is almost 1,000 more than February. This is usually the buying and selling season of real estate, and I am predicting that more buyers are going to jump off the fence and find that now is a great time to buy a home.

Minorities and Low Income Families Affected by Strict Lending Rules

2008-04-01T16:16:26Z

Today in an article from Realtor Magazine I read that the National Association of Hispanic Real Estate Professionals (NAHREP), the Asian Real Estate Association of America (AREAA), and the National Association of Real Estate Brokers (NAREB) believe that tougher/stricter lending standards are having an effect on Minorities and low income families.

The new rules have made it more difficult for minorities and low income families to obtain financing and/or to refinance. Higher LTV's (loan to value) ratios and higher mortgage costs have made it more difficult for for people who want to buy a home in today's market.

Across the board this is having an impact on markets throughout the country. Whether it is in California, Nevada, Florida, or Arizona. Even states that are doing better than others are still affected by the new lending guidelines. Lenders should not be giving out loans to just anyone. However, I believe that some exceptions can and should be made to help alleviate some of the stress off of our Industry.

Home sellers would have more potential buyers looking at their homes, Lenders would have more people qualifying, Markets could begin to improve if they loosen their standards a bit for qualified buyers. I know there is no perfect solution for this debacle we are in, but i do believe that with a little help from Lenders/Banks the industry could be back on its feet sooner.

Arizona Market Update

2008-03-28T21:01:15Z

As of today there are 57,797 homes for sale in Arizona. Of those there are 47,461 single family homes for sale in Arizona. From March 1, 2008 there have been 3,361 homes sold in Arizona. As of March 1, 2008 there were 2,824 single family homes sold in Arizona.

At this rate it would take 17.2 months to get rid of this supply of homes in Arizona. If we are talking single family homes, it would take 16.8 months to get rid of these homes.

Realistically, there will never be ZERO homes for sale in Arizona. There are always going to be home for sale. For what ever reason, people will want to buy or sell a home. To get to a more reasonable supply of homes to work with will not take as long as I mentioned above. We have been in this downturn since about August 2008, and I feel that our market has begun to correct itself. We can argue about the market until the end of time, however, I believe that we will have a stable market within a year here in Arizona.

I would like to know what things are like in your market. Please leave a comment with your market's statistics or your opinion on your market.

Phoenix Market Update

2008-03-16T21:18:11Z

There are currently 57,405 listings in the ARMLS database. Out of those there are 47,219 single family homes listed for sale on our data base. There were 3,449 listings that sold in February. Of those, 2,896 were single family homes that sold.

Those numbers are not as good as I was hoping they would be, but at least homes are selling. At this rate it would take over 16 months to sell all these listings. However, in Phoenix when we hit our peak in the big real estate boom, we had about 30,000 listings so if you subtract this amount from the total listings we only need a little over 7 month to reach normal levels.

I feel that the worst is still to come, but that it will not be as bad as some other source predict it will get. I have seen the return of multiple offers and homes selling for over list price. Be it, the homes are usually Lender Owned properties aggressively priced. However, the sooner our market sells these homes and short sales, the faster the stabilization will occur.

Thus, regular resale homes will not have to compete with outrageously low priced homes that no homeowner can afford to compete. And prices will begin to reach normal levels. Funny, during the boom homes were overpriced, now homes are being under priced.

Things will return to normal, be patient and do your best to persevere.

When will the downturn end?

2008-03-13T18:29:43Z

When will the downturn/decline end? That is the trillion dollar question isn't it? I hear it about everyday, as I am sure you do too. While there is no magic answer for this question, there are always those who claim to have it. Like with this video, Mark Fleming who is chief economist at First American Core Logic. He claims that the market will not make a comeback anytime soon.

I am so tired of hearing everyone's opinion on this market and what they believe. They say they crunch the numbers and this is what they come up with. However, unlike most people who give blanket answers for when the market will rebound, this man and his company do not, they claim certain markets have things going in their favor, while others do not.

It was a good video, worth the 5 minutes. Take a look and tell me what you think.

5 Tips on Buying Foreclosed Properties

2008-02-20T10:22:32Z

Finally, the media is taking notice of the real opportunities available to qualified home buyers who plan to live in their homes for several years. I think they might be reading our blogs here on Active Rain. How long have we been saying that this is a great time to buy a home? And it is also a excellent opportunity to find a great deal on Foreclosed properties for sale by lender/banks.

I know I just wrote a post about buying Lender/Bank Owned properties, and the opportunity in finding a deal on a REO (Real Estate Owned) properties. It is important to note that not all Lender/Owned properties are deals in the making. Research should be done before buying any home, and you should at the least have an Inspection (by an experienced Inspector) done before you close on a home. Due Diligence is the key when buying any Big Ticket Item, Cars, Jewelery, and especially a Home.

AOL wrote an article that gives five tips for buying a foreclosed home. In all honesty they are pretty good tips. Tips a person should follow when thinking of buying a foreclosed home.

This is a link to the AOL article I read that gave 5 tips on buying a foreclosed property.

http://money.aol.com/top5/realestate/buying-a-foreclosure

Investment Opportunity

2008-02-19T17:20:30Z

In the greater Phoenix, AZ metro area there are hundreds, and thousands of homes that are lender owned. These homes are usually being offered below neighborhood comparable properties. I have seen hundreds of homes for sale under $100,000. However these homes are already being snatched up by the smart and savvy real estate investor. These properties, some of which are great deals are receiving multiple offers. The time to buy/invest in real estate is now. You can listen to the media and their doom and gloom analysis of the market, or you can take a look for yourself, and make up your own mind. I would be happy to help you search for lender owned properties and help you to find a great deal. Contact me today!

Ulises Romo, REALTOR®

PRO-formance Realty Concepts

Website: http://ulisesromo.point2agent.com/

Blogging to Save People's Homes?

2008-02-19T16:55:17Z

Well it does seem to work, Moe Bedard has started a blog for people who are having trouble paying their mortgages and/or people who will be having trouble. The site www.loansafe.org offers free help and advice from others on what to do or what help is available to them. I have barley started looking at the site, but I feel this was a smart move on Moe's behalf. He believes that the foreclosure fiasco could be remedied and thinks his site could help. One article claims that 19 homeowners have saved their homes thanks to the site.

Lets hope more people can save their homes so our market can correct itself.

RealTown article.

http://www.realtown.com/articles/foreclosures/blogger-offers-foreclosure-help-19-homeowners-save-homes

Top 10 Markets Where Home Values Declined

2008-02-13T14:50:07Z

Of course Phoenix is included in this list of markets where home prices have declined. In Phoenix home prices have declined around 9.5%. Thats a large amount of depreciation. However Ziprealty mentions the fact that the end of the decline may be near. I agree with them, and I also agree with them on something I have been saying for some time now. The amount of inventory has gone down, and while the decline in the number of homes for sale has been minimal I expect the market to stabilize by the end of the year.

If you opinion differs from mine, or, if you agree with me let me know your opinion. I would also like to hear how other markets are doing, and/or if your market made this list.

Thanks for reading.

Please read this article.

http://www.realtor.org/RMODaily.nsf/pages/News2008021303?OpenDocument

Top 10 Places To Find Deals

2008-02-11T10:50:28Z

Wouldn't you know that Phoenix makes the list of the top 10 places to find a bargain. I would certainly have to agree. Not only because I am a REALTOR® in Phoenix, but because price have come down low enough to be considered a bargain by smart consumers and investors.

I can already hear my critics telling me not to suggest that it is a good time to buy, or that it is irresponsible to suggest such thing. However, I know in my gut that now is a great time to buy. The prices we have in Phoenix are great for buyers who could not afford a home a few years ago because homes appreciated beyond their reach. I think the savvy consumer/investor has already seen the opportunity in our market and have begun to snatch up properties.

Lender owned properties that are priced well below consumer owned properties are receiving multiple offers and are selling almost as soon as they are entered into the MLS.

If you plan to buy, take advantage of home prices being so low. This year is going to be a good year for buyers. On the other hand home sellers are going to be upset that their home is not worth what it was in 2005 but, if they have owned their home for more than 5 years there is a good possibility that they can still make a profit. That is if they have not pulled out the equity in their homes.

The economy in Phoenix is doing OK, and it is still growing. People who need to buy a home will find that they can find homes for under $130,000. And if they are willing to do some renovations to a home they can find fixer uppers under $100,000. The deals are out there for the smart buyer.

REALTOR® Magazine Article

http://www.realtor.org/RMODaily.nsf/pages/News2008021101?OpenDocument

Paperless Transaction Managemet and Arizona

2008-02-08T20:26:25Z

Here is a video from Inman TV. It is about the AAR (Arizona Association of REALTORS®) and their decision to begin using SURECLOSE. SURECLOSE is a paperless Transaction Management system that allows REALTORS® in Arizona and their clients across the globe to follow the progress of their transactions electronically. Over 54,000 REALTORS® in Arizona will be trained to use the new system in the months and years ahead.

I am glad to see that the AAR will be one of the first State Associations to begin using the paperless transaction system. This will reduce the amount of paper we use and the amount of trees that will be cut down. Call me a tree hugger, but the Earth's Ecosystem could use some help.

Let me know your thoughts. And feel free to watch the video below.

inman Connect - NYC 08 - Travis Wright and Craig Sanford

Where is the market heading? When will it turn around?

2008-02-06T20:39:21Z

Today I watched a video interview of Barry Ritholtz, CEO and Director of Equity Research from Fusion IQ give his take on the market. To him the market has more years left of recovery. He must have looked into his crystal ball and read the future. I have no reason to believe it will take years.

We have already been trough one year of correction, and I believe the stabilization will be occurring by the last quarter of this year. At least for our market in Phoenix things are beginning to look optimistic. Investors are out buying homes again. Some Homes are getting multiple offers and inventories are beginning to recede.

Along with low interest rates and low prices on new and resale homes makes this an opportune time to buy for those that are ABLE to buy. Of course I will hear more doom and gloom speak from the media and consumers, but the reality is that things have already begun to change. I wouldn't go as far as to say that things are better but they do seem more stable that a year and a half ago.

Feel free to leave any comments or any ideas you may have on this subject.

inman Connect - NYC 08 - Barry Ritholtz

Owner Occupied?

2008-02-06T12:31:38Z

Owner occupied fraud is said to make up 20% of mortgage fraud as a whole. I think thats an amazing percentage. Investors may may be primarily to blame for this 20%. Also to blame can be those who own a vacation property or a second home may want to have the advantages of claiming the home as their primary residence.

In any case, states like Florida, Arizona, and Nevada are were many cases of this type of fraud are occurring. In Arizona there are many homes that are vacant. I have heard of areas where some subdivisions are 70% vacant. This could be because investors do not live in those homes, it could also because home owners have left the property, or it could be because the homeowners have lost the property and now the bank owns the home.

Either way this does not help the market or home values. Homes that are vacant are usually not maintained and are more thank likely to be sold for less than a home that is occupied.

REALTOR® Magazine article.

http://www.realtor.org/RMODaily.nsf/pages/News2008020603?OpenDocument

Bloggers Beware!!!

2008-01-29T14:02:46Z

Beware of what you write in your blogs. A blogger is being sued over what he has posted. I suggest that you be careful that your posts contain facts and that you disclose where found the facts. I would not like to be held liable for anything I post on AR.

When we offer opinions we should make it clear that is is an opinion and that others should look to and verify facts before coming to their own conclusions.

http://www.realtor.org/RMODaily.nsf/pages/News2008012902?OpenDocument

Redfin, any Opinions?

2008-01-29T13:47:25Z

In an article from REALTOR Magazine titled "Redfin CEO Says He's Being Picked On", Glenn Kelman states that their comany's signs are being destroyed, and stolen. Does he think his company is unique in that only his company's signs are being tampered with?

Along with many other colleagues I can tell you that this is a common occurrence in real estate. I know of co-workers faces painted with horns, mustaches, etc... on their signs. Personally I have had my signs torn down, vandalized, etc... I believe that what he is experiencing is normal. We all have stories about our signs and the problems we face when they are hanging up in a yard.

In addition, did Mr. Kelman think everyone would be happy with him and his company after he went on CBS and gave full service brokerages a bad name? Some people were very angry with him and CBS for a long time after the story aired on TV. Do some people dislike Redfin? Of course, and a small percentage of those people may actually take actions such as defacing his signs or stealing them.

Personally I would not do such a thing, however people are emotional creatures who sometimes react on feelings instead of thinking through the situation. However, I believe that the majority of the time its probably some teenager/youngster having fun and doing what comes natural to some of them.

Should he worry that he is being picked on? No. Most full service agents have forgotten about the story and moved on with our lives. We know the value we posses and bring to the table for our buyer and sellers. We do what we have always done, and that is giving our clients the best service possible.

I have left a link if would like to read the article. Also, I placed the link to the CBS story "Chipping Away At Realtors' Six Percent".

http://www.realtor.org/RMODaily.nsf/pages/News2008012905?OpenDocument

http://www.cbsnews.com/stories/2007/05/11/60minutes/main2790865.shtml

Are You A Skeptic?

2008-01-28T11:25:46Z

If you are a skeptic you will find this video from Inman TV interesting. It is an interview with Michael Shermer who publishes Skeptic Magazine. He has written a book called "Mind of the Market", where he gives his take/view on the industry. I thought that he was going to have a pessimistic view on the downturn in our market. I believed he was going to talk about how things were bad and we are all to blame.

On the contrary he had some very optimistic and insightful thoughts about the market. In the end of the video he says that the market will inevitably change for the better. I found that his comments were in-line with what I was thinking and I was glad to hear someone else had an optimistic outlook on our market.

I have been of the belief that Real Estate has has been a pretty good and safe bet when it comes to investing and creating wealth. It has been for as long as we have placed value on land. And the notion that buying real estate is like finding fools gold is a gross misinterpretation.

Real Estate is a great long term investment, if you hold onto it long enough you will make money. "You don't wait to buy real estate, You buy real estate and you wait", I cannot recall who said this or were I read it but it should be our industry's motto. Its not how much money you will make in a few years, but how much you can make if you hold onto it long enough. Keep that in mind if you work in the industry, and if you are a home owner or home buyer. Look into the distant future. Do not ponder what will happen in the near future.

The market will correct itself and you will find yourself in a better position if can "hang in there" as Shermer put it.

Here is the Inman interview with Michael Shermer, it is only five minutes long take to watch it and brighten you outlook on the market.

Inman Connect - NYC 08 - Dr. Michael Schermer

Improving Your Credit, and Credit Score

2008-01-23T13:11:49Z

No the two are not the same thing. Although they may have a symbiotic relationship they are very different. Now I will not go into detail, but I will give you my take on the differences.

Debts you have and owe are basically credit that is extended to you. Having credit is usually a good thing. If you can pay your bills on time and do not spend beyond your means credit can help you out when you buy a home, car, etc.... However, if you do not pay your bills on time and carry too much debt you can count on being denied for a lot big purchases on the horizon. These things will adversely affect your Credit Score and your ability to purchase Homes, Cars, and even obtain more credit.

Credit Scores range from 350 to 850. If you have a lower Credit Score you can expect to be denied for most things that involve checking your Credit, and Credit Score. And if you are approved for lets say a car purchase, you can expect to pay higher interest rates. On the other hand if you have a higher Credit Score you will see lower interest rates and you will realize more opportunities to buy a home or a car.

Like I said before paying your bills on time and not carrying too much debt is one way to keep your Credit clean and your Credit Score Higher. I have included an article that suggests 10 ways to improve your Credit and Credit Scores. And I feel that everyone should read it and take a few tips for themselves to better improve their lives and their way of living.

In the market we find ourselves now if you have bad Credit and a low Credit Score I can almost guarantee that you will not be offered a loan for a home. You can also count on paying higher interest on any loans your are offered. Those that do have good credit are getting some really great Interest Rates on their loans, I have heard and seem them under 6% for people who have great credit.

I suggest if you have plans to purchase a home or anything that requires a Credit check, you should take steps to check your Credit. If you have bad Credit and low Credit Scores, start repairing it so that you can take advantage of home prices that low, and Interest rates that are low as well.

Read this article:

http://www.inman.com/content/story.aspx?ID=65868

Foreign Buyers are Snatching Up Real Estate in the U.S.

2008-01-23T12:43:02Z

I read an Inman article from Tom Kelly that suggests Foreign buyers are very interested in U.S. Real Estate. He discusses three points about foreign buyers that are very interesting and informative. I think that even though we are seeing U.S. buyers sitting on the fence and our Dollar is losing its value there are still other avenues we can take to make a living. And one way is to market and advertise to foreign buyers. With the economy, prices, and interest rates were they are now make it a opportune time to buy real estate.

In closing I would like to ask my fellow AR members what do you do to advertise to foreign buyers? And how does it work? If you do not mind sharing a few secrets, please let us know. Thanks.

Inman Article:

http://www.inman.com/content/story.aspx?ID=65870