Robert P's Blog

How Important Is A Home Inspection?

Robert P Bowman (Cornerstone Real Estate Professionals) — Thu, 15 Jan 2009 11:43:13 -0600

You are out shopping for that perfect home. One of the most important investments anyone can make today or in the future. Purchasing a home can be an exciting time in anyone’s life, and there are so many decisions to make. Again, another reason to use a Licensed Professional REALTOR . You want everything to go as smooth and flawless as possible. So your REALTOR suggests you have a Professional Home Inspection done to go over every nook and cranny of the home, your investment. How important is the inspection, and is it really necessary?

A Licensed Professional Home Inspector will be one of the smartest investments you make in the purchase of your new home. The Buyer should be present while he or she conducts the inspection, to witness in detail every aspect of the home inspection. Appliances and utilities included in the sale are tested to make sure they are operating properly. This includes the dishwasher, range, washer and dryer, hot water tank, heating and cooling, all gas units to make sure they are burning properly, the electrical panel and GFI plugs, soft water system, and any other system that functions as part of the home. The Inspector will show you how everything works, or should work, where the shut off valves are, so you know in case of an emergency. Things you might keep an eye on for possible future problems, and what you do not have to worry about for a long time. On the outside of the home the Inspector should check the condition of the roof, and if not possible because of 2 foot of snow, get to the attic crawl space to look for potential problems, as water leaks in the past. It never hurts to have a RADON test done, especially if you are in the foothills. The foundation should be visually checked, as well as the exterior siding. Remember, you are paying to make sure the home you are buying is free of worries for the near future so you can enjoy your home to the fullest.

A Professional Home Inspection will be the best money you will spend on your new home, pricing usually is based on the square footage of the home. This is something you may think about having done if you have purchased a home without a Home Inspection. It will give you peace of mind your investment is as ship shape as you want it to be. Call me today for a list of Professional Home Inspectors in your area. Part of the service of a Licensed Professional REALTOR.

Robert P Bowman is a Licensed Professional REALTOR with Cornerstone Real Estate Professionals in Logan Utah. He can be reached by e-mail loganrealtor@gmail.com or visit his website www.retireinlogan.com

Should I Sell My Home During The Winter?

Robert P Bowman (Cornerstone Real Estate Professionals) — Tue, 23 Dec 2008 13:04:04 -0600

Often people consider listing their home for sale, but want to wait until Spring to do so. Or they have had their home for sale during the Fall and want to take it off the market during the Winter months, and wait until Spring. Is this a smart thing to do? Or is it smarter to list your home now and get it SOLD? The answers are with your favorite local Licensed Professional REALTOR.

The first thing to consider is YES people do purchase homes during the Winter months. In fact right now interest rates are very attractive and many Buyers are looking for that perfect home – NOW. So those people that have left their homes on the market, and those people listing their homes for sale NOW, will benefit the most. Who is to say where interest rates will be in the Spring if you decide to wait? Even the Mortgage gurus have thrown away their crystal balls! Also, what will the market conditions be like in the Spring? These are important questions to consider if you indeed want to sell your home and move on to the next one.

Which brings me to the next point, if you are considering upgrading to a new or larger home, NOW is the perfect time to do so. There are many great deals out there in both new construction and resale’s. Buyers have more options in this market than they had in the past. There is more inventory and you have the opportunity to ask for more perks, as a Home Warranty. NOW is the time to get your home sold so you can move on to the home you have had your eye on for a long time.

True, nobody wants to move when it is cold, or during the Christmas Season. However, what wife would not want to surprise her husband with a new home for Christmas? People are looking, Buyers are Buying. NOW is the time to list and SELL.

Remember - It Is Christmas

Robert P Bowman (Cornerstone Real Estate Professionals) — Sat, 20 Dec 2008 23:36:34 -0600

No matter what kind of a year you have had, or the state of the economy right now. It doesn't matter if you haven't got all your shopping done yet, and you have a closing, a listing, and relatives next week. The most important part of this time of the year is to give THANKS TO GOD FOR SENDING US HIS SON, JESUS CHRIST. Not only did Christ come to save us, but He came in a miraculous way, so special; immediately wise men came offering gifts to this very special birth. This is what December 25 is all about. No matter what you are going thru, no matter how much you have or don't have on your plate, you can look to Jesus Christ and know we have so much to be thankful for. Tomorrow is ALWAYS better knowing Christ Jesus as the son of God, and you are in his bloodline. God Bless everyone and HAVE A GREAT CHRISTMAS SEASON !

Robert P Bowman is a Licensed Professional REALTOR with Cornerstone Real Estate Professionals in Logan UT. He can be reached at loganrealtor@gmail.com or visit his website www.retireinlogan.com

Get a $250,000 home for the price of a $200,000 house.

Robert P Bowman (Cornerstone Real Estate Professionals) — Thu, 18 Dec 2008 17:44:13 -0600

What a great comment Alan, and a fantastic opportunity to buy Real Estate today. Most people do not realize you can get more of a home for less money! Good insight!

Via Alan Barker (Cornerstone Real Estate Professionals):

If you still aren't convinced that it is a GREAT time to buy consider this:

With the low interest rates prices have just gone substantially down. Consider this a "year end close out sale" on real estate.

Interest rates are at rock bottom right now, you can purchase a $250,000 house for the same monthly payment you would have on a $200,000 house just a few months ago.

At 6.5% interest, (a historically low rate for mortgage loans) the Principal and Interest payment on a 30 year fixed loan with 20% down would be $1011 a month on for a $200,000 house.

At 4.5% interest, the PI payment on a $250,000 home would be $1013 a month with 20% down.

Now in this example the property taxes and insurance would likely be down, and the down payment on the $250,000 house would be an additional $10,000, but the point is that home prices are incredibly affordable for those who qualify for loans. Also consider that Homes in Cache Valley in the $250,0000 plus range have dropped in value considerably over the past year. For the payment of $200,000, house you can buy what would have been a $300,000 house (and what will be again in a year or two) a year ago.

To start shopping for Cache Valley Homes visit Cornerstone Real Estate's Website.

Also visit our website for a free mortgage quote and prequalification from one of our preffered lenders.

Market Will Get Better,,And I Am First In Line!

Robert P Bowman (Cornerstone Real Estate Professionals) — Thu, 18 Dec 2008 17:38:29 -0600

With the 30 year fixed Mortgage rates dropping below 5% this week I feel even better than ever to contact all my Buyers and Sellers to let them know,,,,.IT IS A FANTASTIC TIME TO BUY! Nobody knows how long these rates will be in this range, or if they will go lower. Even the Mortgage Lenders have thrown away their crystal ball ! The bottom line is if you have been on the fence, wondering if you should buy or upgrade, now is the time. It equates to the perfect ability to buy more of a home than you could afford 6 months ago, at a lower interest rate and monthly payment! Plus there are many fantastic deals out there waiting to be had. In 6 months to a year after you buy you will break open a bottle of bubbly for the foresight in buying at this time. What a smart Buyer you can be as long as you use your favorite Licensed Professional REALTOR to help you buy without mistakes or problems. This will help the Real Estate market to unload tons of inventory, and create new listings for those looking to sell their home at the perfect time to upgrade to the home you have had your eyes on for a long time, and did not think you could afford. Timing is everything,, and NOW IS THE TIME!

What Happened to American Patriotism?

Robert P Bowman (Cornerstone Real Estate Professionals) — Thu, 18 Dec 2008 17:14:30 -0600

I can not believe how the media is making a huge celebration over a foreigner throwing a shoe at the President of the United States. Now there is a popular game out making fun of our President having a shoe thrown at him. This is a deplorable as when the courts approved as "free speech" the burning of the American Flag! What is happening to America? I do not believe for one moment President Bush was that bad of a President. Look at what he has had to deal with while in office. If this would have happened during WWII, or after the bombing of Pearl Harbor, the American citizens would have ordered this man to his death, one way or another. The American mass media today is our worst enemy. They trend on America worse than the terrorist that are trying to take out the American people. One short message to the American people,,,WAKE UP BEFORE IT IS TOO LATE. If the National Media would have printed and broadcast this same negative news, created to destroy America, after Pearl Harbor as they are now, the American people who had patriotism at that time would have burned down the offices of every newspaper and media headquarters in the US. Face it people, we need to take control of America. Take it away from the media, away from all corrupt politicians, and away from every foreign source that is out to destroy life as we all know America was built on,,,FREEDOM. We are headed down a path led by politicians, and evil media sources that may not be reversable if we let it go too long. THINK ABOUT IT!

Why is today the best day to buy a home?

Robert P Bowman (Cornerstone Real Estate Professionals) — Thu, 18 Dec 2008 11:15:31 -0600

Great article Johnnie, now Buyers can afford more of a home at a lesser interest rate! Never a better time to buy Real Estate than now.

Via Logan_Utah_Real_Estate_ Cache_Valley_Homes_for_Sale (RE/MAX Excel):

*Note I wrote this yesturday, but I wasn't able to post it until today.

This morning my favorite lender gave me a call and told me that 30 year conventional fixed rates just dropped to 4.625 % (rates have bounced up a little, they are 4.75% as I type). I picked up the phone and started calling and texting everyone in my database to let them know this great news. One client that I have been looking at homes with for about 4 months asked why I was so excited about the rates. This article is what I explained to her, and I thought you might like to know what I told her.

In July when I first started looking at homes with this client she had met with a lender and could afford to pay a total of $1100 per month on their new home. After taking out taxes, insurance and mortgage insurance she was left with about $884 for principal and interest. This is why I was so excited. When we started looking in July, rates were 6.5% on a conventional 30 year fixed loan. At that rate they could afford a mortgage of $140,000. Today when rate dropped to 4.75% the exact same $884 will buy them a home worth $169,500.

Not only will the lower rate allow them to buy a larger home than they could buy just 4 months ago, prices have also come down a little in those 4 months. Every market is different, but in July the average price for homes for sale in Logan, Utah was $207,594. Today the average in $193,724. That is a 6.6% drop. Assuming that the 6.6% drop is across the board, a house priced at $180,687 would now cost $169,500.

I can only guess when the housing market will turn around, but I believe it is starting to level off, and will slowly start to go back up this summer. I also don't know what rates will do, but I don't think we will see them get much lower then this. I was always told to sell when everyone else is buying and buy when everyone else is selling and you will be way ahead.

Why is today the best day to buy a house? Rates are historically low, prices have come down, and the high supply of homes on the market gives buyers more ability to negotiate the price down more. If you are thinking of buying a home within the next year, now is the time to do it.

For more information about why today is a great time to buy a home visit me at http://uthomelist.com I would be happy to help you out.

Thanks,

Johnnie Rosser

jrosser@remax.net

http://uthomelist.com

* Note to others that may like to use this article. Feel free to use it, but please keep it in its entirety including my name and links. Feel free to add your information at the bottom.

Should You Fix Up a House that is being Sold as a Short Sale?

Robert P Bowman (Cornerstone Real Estate Professionals) — Thu, 11 Dec 2008 21:30:44 -0600

I think as REALTORS we will see more of this as time goes on with the short sales.

Via Colleen McConnell:

I've been working on a particular short sale for about 9 months. The house is all brick, has a big yard, and is in a good neighborhood. It should be an easy sale, but that hasn't been the case. When I first took the listing, the owner lived there and it looked pretty good, inside and out. It's been vacant with the power off for over 6 months and now looks distressed. The owner took out her furniture and did some cleaning, but there are garbage bags full of trash in the driveway and misc. junk left in several rooms. The carpets are filthy and a professional cleaning would work wonders.

The house is listed at $130K, which seems to be a fair price based on condition of the property and comps. The bank's appraisal came in at $148K and was based on comps that had sold almost a year earlier (not much activity since) and were in excellent condition when they sold. There have been lots of showings and several offers, some of them very close to the listing price, all turned down by the bank who held out for $148K.

After months of submitting evidence indicating that the bank's expectations were too high, they finally approved the last offer, four months after it was submitted, but now the buyer is in a tight monetary position and needs the extra cash for a family emergency and can't afford to fix the house up, so they walked. It's been shown several times in the last month, but everyone is turned off by what appears to be too much work.

Dropping the price to compensate for the condition isn't a viable option, so it appears that the best bet is to get it cleaned up. The seller doesn't have money to hire it out and I think that I need to try to convince her to do the work that's needed if she wants to get it sold and avoid foreclosure.

Short Sales: Reasons Why They Take So Long

Robert P Bowman (Cornerstone Real Estate Professionals) — Thu, 11 Dec 2008 21:28:29 -0600

I guess we all have to learn patience with the short sales. This will be around for some time and can be a good niche for a REALTOR.

Via TRACY MILLER - S.S. Specialist & Housing Counselor:

When talking to individuals who are just getting started in short sales, I often hear the following question, "Why does it take so long to hear back from lenders about my offers?"   To help answer this common question, I pulled together a short list of possible reasons causing the long holdups.

Naturally, this is not a conclusive list, so I would appreciate your comments and feedback on what you think are other possible reasons causing these long short sale delays.

POSSIBLE REASONS FOR DELAYS:

1. Because of the epidemic number of U.S. foreclosures, there are just too many cases for loss mitigators to review.

In a conversation I had with a mitigator several months ago, she told me that she had over 400 short sale files she had to review. Naturally, with this type of unprecedented case load before her and many other loan specialists, it makes it extremely difficult for mitigators to quickly review offers, order BPOs, and follow up in a timely fashion with individuals that submitted short sale offers.

2.  There are not enough experienced loss mitigators to keep up with the growing case demands. There are a large number of unskilled mitigators still learning the ropes and ill-prepared to keep up with the excessive demands pushed on them by the growing number of homeowners defaulting on their mortgages.

3. Short sales can take longer when there are multiple lien holders involved. If the second lien holder wants more than the first is willing to give up, then this stalemate could add addditional weeks to the timeline before a decision on your offer is rendered.

4. If you haven't heard back from the mitigator since you submitted your offer months ago, it could be because your seller/homeowner is still making his mortgage payments. Typically, lenders won't consider a short sale unless the homeowner is delinquent by three months. So, naturally, if the seller is still making his mortgage payments on time, then the lender will be a lot less motivated to consider your short sale offer and may even just plain throw out your request.

5.  Another key reason for the long wait time in hearing back from mitigators is usually because of the investor involved in the short sale. Yes, in case, you weren't aware of it, there is usually an investor lurking behind the scenes. He owns the seller's note and may have imposed strict short sale guidelines. In this situation, all offers would need to be approved by the investor(s) before the mitigator could relay/convey news back to you whether your offer is approved or not.

6.  Another reason for the holdup is that there is frequently too many parties involved in the short sale process. In case you weren't aware, there are usually three parties involved in the short sale review process, which can unfortunately help to lengthen the time it takes to receive word back from the loss mitigator.

There is the Lender (or investor), the Servicer, and the MI Company. The lender loans the borrower/seller the money to purchase the property. The Servicer sends the seller his monthly loan statements and collects mortgage payments, and the MI Company provides insurance to protect the lender's interest in the property in the event the seller or borrower defaults on the loan.

Since PMI is always required when the borrower's LTV ratio exceeds 80%, this would naturally explain why the MI Company would be involved in short sales where the seller has little or no equity in the property. Also, this would help to explain why it can take mitigators considerably longer to get back to you on short sales falling within the parameters described.

Well, this sums up my list of reasons for the LONG WAIT TIMES in receiving news from mitigators on short sale offers. Again, if you have other reasons you'd like to add here, please be sure to leave me your comments.

AUTHOR CREDITS:

"Short Sales: Reason Why They Take So Long," from Tracy Miller's Blog: Short Sales & More! (Material Copyrighted 2008. Tracy Miller; All Rights Reserved.)   Tracy's blog published at Active Rain Real Estate Network (www.activerain.com/blogs/tracyshortsales). It is permissible to reprint, repost, reblog this material. Please reprint material with the author's information included. It is preferred that reprints of this material are published with this exact same "Author Credits" footer depicted or included at the bottom of any reproductions.

Fed Lowering Interest Rates to 4.5% -- Well Not Exactly -- But Close.

Robert P Bowman (Cornerstone Real Estate Professionals) — Thu, 11 Dec 2008 21:24:07 -0600

I hope to see these rates by spring, it will help all Real Estate move for both Buyers and Sellers.

Via Gary McNinch Renton WA Real Estate:

The news is buzzing with talk about the Fed lowering interest rates to 4.5% in an effort to increase home purchases. (Please keep in mind that this low rate is just talk...no banks are offering 4.5%). This idea is similiar to the recent Tarp bailout plan to purchase $500 billion in mortgage-backed securities from Fannie Mae & Freddie Mac, along with the options to buy out another $100 billion in low performing mortgage debt.

This news of the Government's help has caused bond prices to spike, forcing lower interest rates. It is important to remember that the Federal Government does not directly dictate home loan rates....they simply have the ability to influence buyer sentiments and investors by fueling cash in the market. Rates are determined by the price movements of Mortgage Backed Securities, which compete for investor funds in the market. With the governments fueling cash in our market rates are being held down superficially.

The truth of the matter is that we don't know what the negative effects of this potential bailout is going to have on interest rates or how our government will function in the future. What we do know is that current rates are 5%! A historical low for the last 48 years. This coupled with home prices down by upwards of 10%......Why isn't every first time homebuyer taking up this unique opportunity to purchase a home?

So the Gary McNinch Team is asking all our potential buyers "What are you waiting for?" We have the lowest rates in 48 years, the advantage of a recent home price reduction of up to 10%, and lots of first time homebuyer programs. Give us a call, visit our website www.RentonHomeFinder.com and search for homes.

Newly Released Second Edition of The Keller Center Research Report - What Does The Future Hold For Residential Real Estate?

Robert P Bowman (Cornerstone Real Estate Professionals) — Thu, 11 Dec 2008 21:21:10 -0600

The Keller books are an excellent resource to help your career as a REALTOR.

Via Moving Careers:

Baylor University’s Keller Center has just released the second edition of the Keller Center Research Report. Published tri-annually, the Report brings market-leading insights to bridge the gap between academic research and real-life application. Arm yourself with high-level knowledge to ensure that you are the local economist of choice

Here are a few highlights from the new report:

“Housing prices are likely to stop falling by the end of 2009, say nearly three-fourths of economists in a recent survey.” – NAR/AEA/Keller Center Study

“Salespeople who rely on standardized scripts and influence approaches should consider altering their presentations and selling styles to increase their levels of adaptation.” – “Lead Conversion: Adaptation, Influence and Customer Value”

“Customers served by higher stressed and lower performing personnel reported lower levels of satisfaction.” – “Stress: It is Your Business!”

Learn what the academics say you should be doing in your business, read The Keller Center Research Report.

Related Articles:

This Week at KW: Spend Smarter - Tips on Making Every Marketing Dollar Count

This Week at KW: Lessons From Top Producing Female Real Estate Agents - Strategies For Building Your Business Game & Overcoming Call Reluctance

An Emerging Story Beneath The Headlines - Real Estate Market Becoming a Suprise Safe Haven For Savings!

The Keller Center Research Report: Consumers and Commissions - What’s Your Value Proposition?

The Keller Center Research Report - Cash In with Clients: Know What Customers Really Value!

Why Run YOUR Real Estate Business At Keller Williams Realty?

Read The Dozen Secrets Every Real Estate Agent Should Know

Survival Basics

Robert P Bowman (Cornerstone Real Estate Professionals) — Thu, 11 Dec 2008 21:19:45 -0600

Good points to remember when you consider what a REALTOR is all about.

Via Trey Thurmond, College Station , Texas Homes:

We are in rapidly changing markets. I read and hear that in some areas of our country that agents are dropping like flies. Who will benefit from that fall out ? Naturally it will be those that stay the course for the long haul. The true professionals that are totally prepared for surviving.

I am sympathetic with those that had to go to different careers...perhaps their bank accounts just couldn't hold out any longer. But one thing is for sure ....those of us that have chosen to stay the course in real estate will have to learn many new survival techniques to make it.

Have you got purification tablets for the all the bad water out there? There is plenty of it...like sellers that just don't get the fact that the market has already changed. Or buyers that don't get it that average or even just good credit doesn't necessarily cut the cake anymore.... You just about gotta have  excellent credit folks... And what are the purification tablets for all this bad water ?   It is you! You are the professionals. Agents that know and care. Face it....... And   You have to have the solutions. You are the one that has to purify the muddy waters we wade through daily in this business.

AND...Have you got the right ammunitiont to survive the daily sneak attacks we face now in real estate. You know the ones. They quietly sneak up and ambush you just when you thought things were about to turn around and go in the right direction. You know the ones I am referring to........The property inspection may come in on the negative side........... The survey shows an encumbrance........... The WDI report shows termite infestation. So what is the kind of ammo you need to survive these ambushes?   You kneed a big variety. A couple of hundred rounds of knowledge, names, and numbers. The knowledge is what you should have loaded up on with a long time ago , the names are all your contacts and experts like a great attorney, a selection of surveyors, a host of repairmen, all of whom need to be dependable and honest. The numbers are the email addresses and phone numbers where you can get to them in a split second. No time to lose when it is survival time. You gotta be able to quick draw!

When it comes to Survival you have to have those tools necessary to make it, and come out alive. Take a few minutes and do an inventory of your survival equipment in real estate. Is your kit lacking, or is it packed and ready to go?

Logan Utah named Undiscovered Haven for Retirement

Robert P Bowman (Cornerstone Real Estate Professionals) — Thu, 11 Dec 2008 20:42:53 -0600

An article in the Where To Retire magazine names Logan Utah as a Undiscovered Haven for retirement. It reads if Norman Rockwell and Daniel Boone built a town together, it would be Logan Utah. The six-page story paints Logan as a neighborly and cultured town, and a location that is catching the eyes of active retirees and urban refugees who value recreation and raw beauty as much as they do community and convenience. It's a place people can stretch their dollars to buy more house, walk a locally owned downtown, travel to a mountain trail in minutes and find a handful of age-restricted newer neighborhoods, all within a short distance of Logan. In search of pleasant surprises in Logan, as the arts, the story quotes a couple who moved here from Maryland, commending the low, if not non-existent crime level, low humidity, extremely clean downtown area, inexpensive utilities, accessible conveniences and cultural events. It mirrors the thoughts of AARP Utah Director saying Logan not only has an environment of vitality, but of rugged life, and beauty. It's an invigorating environment. People that retire do not want to vegetate. They want to be active and explore. Where To Retire magazine calls attention to activities visiting grandchildren may also be interested in. The Cache Valley Fun Park, Logan's skate park, Willow Park Zoo, the Logan Aquatic Center and the Eccles Ice Center. Activities for all ages, including the Nora Eccles Harrison Museum of Art, American West Heritage Center, and the Bear River Heritage Center, are also nearby. The story also notes Utah State University's continuing education and lifelong learning classes, lectures, and activities. Logan is also amicable, the magazine says, quoting recent transplants saying they're still getting used to how friendly people in Logan are. I am a transplant myself, and all above is true for me. I love the outdoors, the exploring nature trails, the quaint, manicured downtown, and the people, by far the most friendly I have met in the entire US of A! Robert P Bowman is a Licensed Professional REALTOR with Cornerstone Real Estate Professionals. He can be reached by e-mail loganrealtor@gmail.com or visit his website www.retireinlogan.com

Keep The Boat Afloat!

Robert P Bowman (Cornerstone Real Estate Professionals) — Wed, 10 Dec 2008 22:36:15 -0600

Real Estate is a very funny business. It seems like when times are real good, agents will do what they can to get all the business they can as though it is all owed to them. They will talk bad about other agents, competitive offices, and even fellow agents they work with. Then on the flip side, when times get real tough they want everyone to go out of business so they are the only office or agent in town. This is their plan to become the "go to" guy or gal in the Real Estate world. This self centered attitude only leads to self inflicted problems. As REALTORS, we have to realize we are all in the same boat paddling up the same river. Destination : Success. Now I realize some agents are happy with a leaky old fishing boat, and some require a Yacht. Overall we are in the same boat all trying to go in the same direction. If we all work together instead of holding grudges, gossiping, and looking for a way to get back at someone, we will all get to the destination : Success.

I say this at a time when things are actually going very well for me. However today I received a call from a board member telling me someone has made acquations about me that are not true. It did not take me more than two minutes to prove my point and side of the story, and make whoever made the complaint look like a fool. Never the less the firey dart has been shot. It does not take a rocket surgern to figure out who does these things, everyone leaves their calling card. And it is usually is the pot calling the kettle black!! Point is where does this get you as the one trying to make someone else look bad?

Every Wednesday our office has sales meetings, with agenda, and training unlike any other office I have been in. It is Professional. It is inspiring. It is how a Professional office is to be run. My Broker would never put up with one of his agents going after someone, or even talking bad about another office or agent. This is not his way, or any other agent in my office, way of doing business. We are Professional, and treat others as so. We are paddling together through the storm and all seeking the same destination : Success.

I say this to help those who feel compelled to seek avengence or what ever they are seeking. And this is for the entire membership of the NAR. We are better than this. We have a code of ethics that separates us from the used car group. Next time you catch yourself thinking of planning something bad against someone, remember the boat. Don't let yours sink. You may need help bailing it out someday. We are in this all together.

Robert P Bowman is a Licensed Professional REALTOR with Cornerstone Real Estate Professionals. He can be reached by e-mail loganrealtor@gmail.com or visit his website www.retireinlogan.com

Be The Expert

Robert P Bowman (Cornerstone Real Estate Professionals) — Mon, 08 Dec 2008 23:25:15 -0600

I was fortunate today to attend a seminar with most of the agents in my Cornerstone Real Estate Professionals office.This program was taught via DVD by Brian Buffini, David Bach, Terry Watson, and Cara Heiden. The title was Meeting The Market Challenge 2008, and was geared to separate the Great REALTORS from the average. Basically there are many opportunities in this market for both Buyers and Sellers. As an Agent I have blogged on this in the past, (check out my blogs). It was great to hear these experts reinterating what I have been saying all year. Ignore the media, Educate your clients, Stay Positive, and IGNORE THE MEDIA !

Actually, with interest rates at attractive levels, and plenty of inventory, the Buyer is in the drivers seat in this market. It was not long ago that inventory levels were low, it was not uncommon to have multiple offers on the same property, and no negotiating on price or perks. Now Buyers can make offers on a home they REALLY want, and ask for perks, as a home warranty, or the stainless steel appliances. Sellers are in a good position as well if they are looking to upgrade. They may have to take a little haircut on the sale of their current home, but they have the opportunity to purchase a larger, nicer home and build equity to make up what they may have lost.

Knowing the market, pricing homes at realistic levels, and educating your clients on lending opportunities, home inspections, true value of homes they are looking at, are just a few things you can polish up on to become the Expert Agent and gain the trust clients are looking for today. There is too much mis-information out there given by the media, and sadly enough, some people that call themselves agents.

Yes there are GREAT deals on homes out there. Do not wait on the market to go lower, it is not timing the market that you will benefit from as a Buyer or Seller, it is time in the market. Yes there is great lending programs out there, and rates are very attractive. Yes NOW is the time to buy while the getting is good. So do yourself a favor. Shut off CNN, CNBC, and all the other lousy sources of media and contact your Professional Licensed REALTOR. They are up on the market, up on education, and ready to serve you for the long run. At least they should be. If you are not getting right answers, you are not with the right agent.

Robert P Bowman is a Licensed Professional REALTOR with Cornerstone Real Estate Professionals and can be reached by e-mail loganrealtor@gmail.com or his website www.retireinlogan.com

Your Actions Are Like Boomerangs...

Robert P Bowman (Cornerstone Real Estate Professionals) — Sat, 06 Dec 2008 23:54:47 -0600

As a Professional REALTOR I take the time to remind myself of every action has a re-action. Great blog !

Via Myrtle Beach Real Estate by Mirela Monte:

How do you get respect?

You give it!

How do you get co-operation and help?

You give it!

How do you get trust?

You give it!

How do you get money?

You give it!

How do you get love?

You give it!

Everything you want, you can have. All you have to do is give it. Like a boomerang, everything you dish out comes right back to you! The next time you are lamenting about someone else's actions, look to your own actions as the origination point!

Myrtle Beach Homes by Mirela Monte Join The Optimist Group!

Sub 4 Santa

Robert P Bowman (Cornerstone Real Estate Professionals) — Sat, 06 Dec 2008 23:47:22 -0600

Now that we are all in the spirit of the holidays, it should snow any moment! Actually snow helps us feel like Santa is on his way, but for many people it is major stress time on how to get Santa to deliver this year. Since it is the season for giving, Cornerstone Real Estate Professionals in Logan Utah has decided to get involved in the Sub 4 Santa program. This is where agents sort of adopt a family in real need, and buy gifts for the children, so they will have a visit from Santa. I have done this in the past for families that are a having a hard time making ends meet. Nothing will bring you more joy or satisfaction than seeing the faces of children who now have a warm coat to wear in the cold weather, or a shinny new truck or doll to play with. For the little money it cost to get involved in a program like Sub 4 Santa, it is worth every penny to at least try to give rather than just talk about it.

Taking the time to think about others this time of the year is very rewarding in many ways. First it shows your faith in the gifts of sowing and reaping. I do not do this to get anything in return except the satisfaction that as a Professional REALTOR, I am taking the time and resources to give back to the community I am in, and outside of my area as well. A long time ago I started to adopt a family in my area, and one in a part of Mexico that is dear to my heart. Giving of oneself not only in time, but also in resources is my small part to Thank my maker of the many Blessings He has given me throughout the year, and beyond.

Get involved somehow this Christmas Season. I know everyone is struggling this time of the year, but when you step out of your comfort zone and do a little extra, the rewards are heavenly!

Robert P Bowman is a Licensed Professional REALTOR with Cornerstone Real Estate Professionals. You can reach him by e-mail loganrealtor@gmail.com or visit his website www.retireinlogan.com

What Is In A Name?

Robert P Bowman (Cornerstone Real Estate Professionals) — Sat, 06 Dec 2008 00:56:45 -0600

In today's changing Real Estate Market, it is important to choose your Professional Realtor wisely. Some agents have been riding on a national company name as solid support to their professionalism. Sadly enough the national name brand Brokerages are falling to more solid smaller home town Brokerages. You can see it by the dwindling number of agents affiliating with the national name Brokerages. Professional Realtors are changing course and getting back to the basics, and becoming more proficient in their service to clients.

Recently I spent time in a large metropolitan area of Arizona. The market has dropped off significantly, and agents were re-evaluating their careers and strengths of the Brokerages they were with. I was amazed at the amount of agents that have traded Brokerages, opting for smaller local offices that offered more services for the same commissions. This resulted in agents fine tuning their careers and getting back to the full representation of their clients, resulting in more sales than they had before.

I am not saying all large offices, or offices with national branding are bad, there are still some that have stuck to their principals and offer great service to all their clients. What I am saying is when the market goes from vibrant to tough, the tough know how to get going, moving forward and coming out on top no matter what the market is doing. It is getting back to the basics. I am reminded of one time when Tiger Woods came off a tour with a very miserable game. He said the best thing he could do is act as he were starting all over. He would go out to a driving range, and practice his swing as he were just learning the game. Soon he found himself in the "groove" and he was doing all the things that made him successful from the beginning.

Although the market is changing, and it will continue to be challenging for some time, the good agents will go back to the basics and practice all the things that made them successful from the beginning. Small offices without national branding are more apt to be most Professional because there is more teamwork and more concentration on delivering to the client the absolute best. For example, here in the Logan Utah market a sharp agent did a study on days on the market for listings with all major offices. The offices with National Branding had an average of about 85 days on the market. Not bad for this market, yet a newer office, with a local home town brand, averaged 47 days on the market, almost half of the time it took the others to market and sell the homes. This tells me when agents decide to get back to the basics of serving their clients with impeccable professionalism, everybody wins. That is what our clients like to hear!

Cornerstone Real Estate Professionals - Not Your Average Agents!

Real Estae Market in Cache Valley

Robert P Bowman (Cornerstone Real Estate Professionals) — Fri, 05 Dec 2008 22:11:10 -0600

Great information Robert on the Market in Cache Valley. Amazing how

Cornerstone Real Estate Professionals work as a Team and get things done!

Via Robert Brown:

REAL ESTATE MARKET IN CACHE VALLEY? This year has been a very interesting year for real estate. The national real estate market is struggling, but locally, the market is very strong. We are in a buyers market! There is currently 9 months of inventory on the market. Interest rates are the lowest they have been in 3 years. It is a great time to buy. Selling? Things are still moving, there are a lot of buyers out there, and there are still a lot of great loan programs. In the last 12 months, the average days on market has been 120 days. Cornerstone Real Estate's listings have an average days on market of 47 days, which is half the time of the leading competitor. We know where buyers are and we market to those buyers. Call me anytime to find out more about the market in Cache Valley, or questions about Cornerstone Real Estate.

Thank you Sam's Club

Robert P Bowman (Cornerstone Real Estate Professionals) — Fri, 05 Dec 2008 22:08:28 -0600

What a great way to treat business people in this community. As a REALTOR I am always promoting business. Sam's Club is a great testomony!

Via Benjamin Brown:

I'm sure we have all heard about the Big Box stores and how they are putting the little guys out of business. I am so grateful for Sam's Club and the way they helped me today.

I was in bed this morning finishing up a powerpoint for a training today and my two year old daughter climbed into bed. I moved over to help her and my Lap Top slid off onto the ground. On the way down it hit our night stand breaking the screen. It is a tablet PC that cost around $1000. I use it daily in my brokerage.

Not the best start to the day.

I called around and checked on line to see what it would take to replace it. I might as well buy a new one I was told. I called Sam's Club to check if by chance I had bought a warranty. I had not and asked them if they had any connections to get a new screen. They asked me when I bought it and I told them just a couple of months ago. They told me if I had the receipt I could just take it in and get a new one. I told them again, " you don't understand I broke it " They said we know we have a 6 month return policy.

I took it back in after I found the receipt and packaging, the price had gone down, so I walked out of there with a new lap top, a 3 year warranty, and $65 in my pocket.

Thank you again for taking care of your customers. I will be a loyal customer for a long time.

We need to show this level of service with our clients. Not to be taken advantage of but to build long term relationships.

Let’s not forget to be Thankful.

Robert P Bowman (Cornerstone Real Estate Professionals) — Fri, 05 Dec 2008 22:04:38 -0600

Thanks Johnnie for the comment. As a fellow REALTOR we all need to take the time out to be Thankful for every day we are alive. I am thankful for new beginnings with Cornerstone Real Estate Professionals.

Via Johnnie Rosser:

Before we get bombarded with Christmas let's not forget Thanksgiving.

I can't say it any better then George Washington said it so I'll let you read his words.

General Thanksgiving

By the PRESIDENT of the United States Of America
A PROCLAMATION

WHEREAS it is the duty of all nations to acknowledge the providence of Almighty God, to obey His will, to be grateful for His benefits, and humbly to implore His protection and favor; and Whereas both Houses of Congress have, by their joint committee, requested me "to recommend to the people of the United States a DAY OF PUBLICK THANSGIVING and PRAYER, to be observed by acknowledging with grateful hearts the many and signal favors of Almighty God, especially by affording them an opportunity peaceably to establish a form of government for their safety and happiness:"

NOW THEREFORE, I do recommend and assign THURSDAY, the TWENTY-SIXTH DAY of NOVEMBER next, to be devoted by the people of these States to the service of that great and glorious Being who is the beneficent author of all the good that was, that is, or that will be; that we may then all unite in rendering unto Him our sincere and humble thanks for His kind care and protection of the people of this country previous to their becoming a nation; for the signal and manifold mercies and the favorable interpositions of His providence in the course and conclusion of the late war; for the great degree of tranquility, union, and plenty which we have since enjoyed;-- for the peaceable and rational manner in which we have been enable to establish Constitutions of government for our safety and happiness, and particularly the national one now lately instituted;-- for the civil and religious liberty with which we are blessed, and the means we have of acquiring and diffusing useful knowledge;-- and, in general, for all the great and various favors which He has been pleased to confer upon us.

And also, that we may then unite in most humbly offering our prayers and supplications to the great Lord and Ruler of Nations and beseech Him to pardon our national and other transgressions;-- to enable us all, whether in public or private stations, to perform our several and relative duties properly and punctually; to render our National Government a blessing to all the people by constantly being a Government of wife, just, and constitutional laws, discreetly and faithfully executed and obeyed; to protect and guide all sovereigns and nations (especially such as have shown kindness unto us); and to bless them with good governments, peace, and concord; to promote the knowledge and practice of true religion and virtue, and the increase of science among them and us; and, generally to grant unto all mankind such a degree of temporal prosperity as he alone knows to be best.

GIVEN under my hand, at the city of New-York, the third day of October, in the year of our Lord, one thousand seven hundred and eighty-nine.

(signed) G. Washington

Source: The Massachusetts Centinel, Wednesday, October 14, 1789

Have a wonderful Thanksgiving.

First Time Home Buyers

Robert P Bowman (Cornerstone Real Estate Professionals) — Thu, 04 Dec 2008 18:35:42 -0600

One of the most important parts of buying a home is to get pre-qualified for your loan. This not only helps you to discover how much you can safely spend on your home, it also helps your REALTOR to find homes in your budget. After getting pre-qualified it is important to get pre-approved for your loan. This involves actually applying for a loan and receiving a commitment letter from the lender, stating you are ready for your loan as soon as you find the home of your choice. This will carry a lot of weight when you make an offer on the home you have found to be the "one" for you.

Next you should make a list of things you really want in a home. Keep part of the list for " must haves" ie. number of bedrooms and baths, square footage, garage etc. Then make part of the list you would "like" to have, as a pool, formal den, fireplace, etc, but you can live without on this purchase. This also helps to keep your expectations of what you can afford in a reality check. And it helps your REALTOR in searching for the perfect home to fit your needs.

The most important part is to make sure you are represented by a Licensed Professional REALTOR. People that feel they can do it all on their own often end up disappointed in their purchase, and are sometimes surprised with unexpected problems with the purchase process and or the home. A REALTOR will represent you with expertise and experience in making the purchase complete stress free. A Professional REALTOR will also help set up inspections, help you with the escrow process, and even help you find a reputable lender to work with.

Buying a home is exciting, regardless if it is your first or 100th. With the help of a Licensed Professional REALTOR it can be a fun stress-free experience that will benefit you for the long run.

Robert P Bowman is a Licensed Professional REALTOR with Cornerstone Real Estate Professionals in Logan UT. He can be reached by e-mail loganrealtor@gmail.com or visit his website www.retireinlogan.com

Mortgage Rates at 4.5%?!?!

Robert P Bowman (Cornerstone Real Estate Professionals) — Thu, 04 Dec 2008 17:52:43 -0600

This would be awesome for logan real estate and all REALTORS in the country. Of course it would help many Buyers get into homes once again at great intrest rates.

Via John Jones:

As early as next week, we may see 30 year mortgage rates as low as 4.5%!

As we speak, the U.S. Treasury is evaluating different proposals and ideas to further stimulate the ailing mortgage and housing market. One key proposal offered up by lobbyists in the financial industry would involve the Treasury buying up mortgage-backed securities from Fannie Mae and Freddie Mac in an effort to set a target rate of 4.5% by manipulating the supply of mortgage-backed securities.

If this proposal is ultimately carried out by the Treasury, this would amount to an unprecedented action of direct involvement by the U.S. government to lower mortgage rates. In a normal market, the government does not intervine in the mortgage market - mortgage rates are determined by the supply and demand of mortgage-backed securities, which is ultimately controlled by demand from global investors and market conditions.

But obviously this market is anything but normal right now.

Over the last several years, the spread (difference) between the 10 year Treasury note yield and the 30 year mortgage rate has averaged around 1.8%. This reflects the perception of the difference in risk between the two by investments in a normal market. But on Wednesday of this week, the 10 Year Treasury yield fell to as low as 2.65% due to the increased demand caused by a flight to quality by investors. However, the average 30 year mortgage rate is still hovering around 5.5%, which represents a spread of almost three points. This increase in spread is a direct result of investors' increased perception of risk and defaults related to mortgage-backed securities.

In other words, if we were in a normal market right now, 30 year mortgage rates would probably already be in the upper 4% range. But the higher perception of risk has kept the rates higher. So the only way to make them go lower at this point would be unprecedented action by the Treasury to buy up these securities which would, in theory, drive mortgage rates lower.

At this point, there's no guarantee that this is going to happen, but I stongly believe this is the Treasury's best option as it stands right now. If it does happen, the resulting lower rates would greatly stimulate the housing market and also cause an unprecedented refinance boom.

If rates do drop into the mid 4% range, homeowners and potential home buyers would be smart to lock in their rate and not hold out for continued improvements. In my experience, people tend to hold off during times when rates make huge drops thinking they can get an extra 1/8th of a percent if they just wait a little bit longer, only to get left in the dust when rates often quickly make upward market adjustments due to the cooling off of the shock value of breaking news.

I really don't like predicting what's going to happen with the markets.  Let's face it. Guys like Jim Kramer and the gang on CNBC make tens of millions of dollars a year predicting the markets and THEY ARE WRONG MORE THAN HALF OF THE TIME. I am no Jim Kramer, BUT PAST EXPERIENCE TELLS ME that when and if this is announced by the Treasury, the shock factor of the news could POSSIBLY drop rates immediately by up to one full point. But they often adjust higher once this news is fully absorbed by the markets. A great example of this is when the news broke in September that the government was bailing out Fannie Mae and Freddie Mac. Rates almost immediately dropped by .875% to 5.25%, but they only remained that low for a couple of days before levelling off above 6%.

In other words, those that were smart and locked when the news broke got lucky. Those who sat on the fence hoping for an extra eighth of a point missed out big time.

But who knows. This is direct government intervention in the fundamentals of supply and demand of mortgage-backed securities. It might be different this time. We may see a temporary minor shock and then more of a gradual reduction over a few weeks to a few months. But if the rates happen to drop substantially in a short period of time, you'd be smart to jump on them. The flood of new loans could quickly increase the supply of mortgage-backed securities once again, which would, in turn, start to drive rates back up. This will not be a permanent policy of the Treasury. The mortgage market in the U.S. is literally Trillions of dollars, and the Treasury would run the risk of massive inflation if it were to write a blank check for these securities.  Mark my words. This will be a "limited time only" event. How limited? I have no idea. But it definitely won't last forever.

I believe that the government has little choice at this point to take direct action that will directly benefit consumers and current home owners. This would be one of the best stimulus packages they could give us all for Christmas.

It's also worth noting that this is not a bailout for homeowners who are already behind on their payments or who otherwise can't qualify for a mortgage. Those buyers are still left to negotiate with their current lenders for loan modifications or other products offered under the TARP plan. It's also not going to help people who can't qualify for a mortgage based on their income and credit score.  Also, buyers looking to refinance their current mortgage must either have enough equity to cover the higher loan amount that will result from rolling in the new closing costs, or bring money to closing. Another option may be to premium price the rate and have the lender pay some closing costs. This keeps the closing costs lower but increases the interest rate. But still, a rate in the low 5% range for little or no lender closing costs is still a great deal.

But potential homebuyers and those that have current rates above 5.75% may benefit greatly if this proposal is approved. As far as I can tell with the data available to me, 30 year mortgage rates have never been 4.5% (unless, of course, the buyer paid a massive amount of points to buy down their rate).

Check back for additional breaking details. You can be sure that I will update this blog as soon as the news breaks! The Treasury is expected to make a final decision as early as next week.

**UPDATE** - I have received a few emails from people who have mentioned that this program may only be eligible for PURCHASE transactions and not refinance transactions. I have heard conflicting information in various news reports today, and everything is essentially speculation at this point. We will have to just wait and see what the Treasury decides to do before knowing the answer to this quesiton...

If you have any additional information, i strongly encourage you to leave a comment at this point. Thank you everyone!

What Is a CMA and Is It Important?

Robert P Bowman (Cornerstone Real Estate Professionals) — Thu, 04 Dec 2008 16:00:52 -0600

A CMA is a "Comparative Market Analysis" prepared by your Professional Licensed REALTOR, which provides data comparing your property to similar homes in your immediate area. A detailed Analysis will include comparing square footage, bedrooms, baths, lot size, size of garage, type of home, roof, etc, all criteria that affects the value of your home. Properly done, a CMA will give you and your agent a fair Market value of your property, and a price acceptable to list it for sale.

A true CMA will only compare your property to others of similar size and style within a one mile radius. This is important when obtaining a Market Value for your home, since some areas of any town command a higher value for homes than others. You would not want to compare your home value if it were in the middle of town to a home on a hill offering beautiful panoramic views, or one sitting on the banks of a river! So locating homes of similarity within a one mile radius is important to finding a true value.

Please note, for all pratical purposes, a CMA is not an appraisal. An true appraisal must be performed by a licensed appraiser for the purposes of loan value, or taxable value for the county.

It is important to have the CMA before your home is listed for sale. This is a good assessment of what your house could potentially sell for, and helps you to understand how the REALTOR has formulated the value.

CMAs are not only for potential sellers, they are also useful for Buyers when they find a home that suits their needs, and are considering purchasing. Owners who are considering upgrading or remodeling their homes can benefit from a CMA to see if the intended changes will "over-improve" their property compared to others in the neighborhood.

Robert P Bowman is a Licensed Professional REALTOR with Cornerstone Real Estate Professionals. Part of his service to his clients has been to prepare a detailed CMA, making it most understandable on how he has obtained a Fair Market Value for his Sellers and Buyers. Robert can be reached by e-mail loganrealtor@gmail.com or visit his website www.retireinlogan.com

Large Nibley Home on Big Lot

Robert P Bowman (Cornerstone Real Estate Professionals) — Thu, 04 Dec 2008 15:17:56 -0600

A lot of quality in a home for the money. This one is worth looking at.

Via Cache Valley Homes Cornerstone Real Estate:

CLICK TO VIEW LISTING WEBSITE

Photo Gallery

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Description and Features

Beautiful home with park like aback yard. Home has 4 fireplaces, tons of storage. The bedrooms are huge! All this home for just over $ 71.00 a square foot. Additional land is available with shop. Ask agent for details.
Bedrooms: 6
Bathrooms: 3.5
Parking Spaces: 4
Square Feet: 4168
Lot Size: .66
Year Built: 1976
Floors: 2
MLS #: 831855

Location

Click to view map: 4125 South Main Nibley UT 84321

Links

Cornerstone Real Estate
Nibley House
Real Estate in Logan Utah
Cache Valley Homes
Listing Website