home selling: WYOMING MI WALKOUT RANCH OPEN SUNDAY - 03/26/08 03:14 AM

1762 Pinecroft SW, Wyoming, MI 49519 USA 
Directions: South off 44th St. SW on Burlingame to Whitewood, West to Pinecroft Lane.)
Just Listed and Ready to Buy. Super-quality, Koetje-built home has been updated for today's lifestyles. Kitchen has been redesigned as a gathering spot for entertaining and with serious cooks in mind! Newly remodeled with new cupboards, new stainless steel appliances, new flooring, new countertops. See kitchen photo! You don't see many kitchens like this in Chateau Estates! Roof is new, carpet is new. With more than 2,200 square feet finished in colors by Pottery Barn, this home is … (0 comments)

home selling: Murphy's Golden Rule - 03/21/08 08:16 AM
Not to be confused with "Murphy's Law," which proposes that if anything can go wrong, it will, "Murphy's Gold Rule" postulates "He who has the gold makes the rules."
Do you ever feel that way with banks, underwriters, loan originators and appraisers?  It doesn't matter to them that buyers who ultimately will pay them interest on their money -- the source of the bank's revenue and profitability -- they treat them as if they are doing them a favor ... and only according to the bank's time frame.
In a recent transaction I was involved in, an underwriter let an appraisal sit on … (9 comments)

home selling: NEW PRICE IN OTTAWA HILLS! NOW $299,900 - 03/20/08 07:30 AM
Ottawa Hills/Iroquois Area Classic 2 1/2 Story
1572 Alexander Street SE (Ottawa Hills/Iroquois Area)
Classic elegance is the hallmark of this plantation-style, all-brick two-and-a-half story home. From its white columns in the front that remind you of "Tara" to its soothing colors throughout, this home offers real comfort, southern style. Its kitchen is open and inviting, ready for a crowd to gather with its glasses of wine and stories of the day. The original butler kitchen makes a great wet bar and wine closet. Dress the table for dinner in the formal dining room or enjoy the convenience of the eating area, warmed … (1 comments)

home selling: WYOMING 3 BR RANCH -- JUST REDUCED $98,900 - 03/20/08 07:25 AM
One-owner home never offered before! Oak kitchen & bath in this well-maintained ranch. Lower level rec room and bath, range, refrigerator, washer, dryer, and air conditioner included. Vinyl siding, Garage, fenced yard, cul de-sac street. At $98,900, this one's smokin' hot! Ready to move in!  Fenced backyard and partially-fenced front yard.  Roof & mechanicals updated.  See more information at http://www.donphelan.com/ Click on "Preferred Listings."

home selling: KENOWA HILLS/ALPINE ESTATES -- NEW PRICE -- $129,900 - 03/11/08 03:04 AM
Great Schools! Great Neighborhood! Now at $129,900! 3-Bedroom, 1 1/2 bath, 2-Stall Garage, Family Room with Fireplace, Central Air. Roof is eight years new. Sharp, sharp!  Low-traffic area with lots of mature trees, close to schools, shopping, easy commute to downtown (10 minutes). For more information, call me at 616-648-0800 or 616-791-0110 ext. 2121 or visit my web site at http://www.donphelan.com/ and click on "Preferred Listings."  Hurry, this one will sell quickly!
Don Phelan
RE/MAX of Grand Rapids, Inc.
616-790-0110 ext. 2121
616-648-0800 (Cell)
616-791-9098 (FAX)
800-530-9230 (Toll-free)

home selling: Could this be the start of an economic turnaround? - 03/11/08 02:58 AM
Today's news that every major worldwide stock exchange index is UP as a result of the news that the Federal Reserve, in conjunction with the European Central Bank, the Bank of Canada and the Swiss National Bank, has agreed to loan banks money in exchange for debt that includes slumping mortgage-backed securities. 
Meridian Equity Partners' chief investment strategist, Peter Dunay, said, "The big problem has been the financials, and this helps supply money directly to the banks and may take some of the need for aggressive rate cutting off the table. The Fed is basically going to take the bad loans … (7 comments)

home selling: Are you watching the interest rates? - 03/09/08 06:00 AM
One of the benefits of 20 years' experience in real estate is that very often, the market that you see today is one you've seen before.  2008 is not the first time interest rates have fluctuated rapidly -- up ,down, seemingly sidweays sometimes.
I remember back in the early 1990's, we were seeing similar fluctuations.  I also remember what a real estate veteran told me then: "Contrary to popular opinion, people DO NOT buy homes when interest rates are going DOWN.  They buy homes when they are going UP."
"Nonsense," I thought.  Then I started to see the market move -- as interest … (5 comments)

home selling: Elephants Don't Bite. - 03/09/08 05:33 AM
Recently, I mentioned my analogy that today's real estate market is like chasing a ball downhill.  If you catch up to it and try to pick it up, by the time you bend over, it's farther down the hill.  The only way to get the ball is to run out ahead of it and let it bump in to you.  Pricing property in today's market is like that; you have to get out in front of the downhill roll and price the property where the market will bump in to you.
The Realtor I was telling this story to replied, "I think … (1 comments)

home selling: Straight Talk About Owning a Web Site. - 03/04/08 03:55 AM
Internet marketing is not for everyone.  Let's talk sense about the internet and whether you should have a web site or not.
1.  If you don't like using a computer, you're probably not going to enjoy prospecting via the internet.  Save your money.  Use it to buy calendars, post cards and engraved ball-point pens.
2.  If you are not committed (mentally and financially) to making your web site appear on the first page of non-sponsored search results on Google, MSN and Yahoo!, you are wasting your time.  It is unlikely you will receive unsolicited leads from your web site. 
3.  If you cannot … (5 comments)

home selling: Hire a Marketing Expert FIRST; an Internet Expert Second. - 03/04/08 03:43 AM
If you want to create an effective internet marketing strategy, hire someone with marketing knowledge first and internet knowledge second.  Think about the internet as a medium, like TV or radio. If you want to make a great TV commercial, you don't hire someone who knows how to build a TV, do you?  You hire someone who knows how to identify your target market and create a message for THEM in the most powerful way possible.
I am a real estate broker.  I talk real estate language, not internet jargon. 
However, pre-real estate, I was a strategy writer for J. Walter Thompson, … (1 comments)

home selling: The 3 Refrigerator Close - 03/04/08 01:39 AM
Ever heard of the 3 Refrigerator Close?  I thought everyone knew that one but when I mentioned it in our morning sales meeting, I got several blank looks.  I learned it from one of those "old pros" who presented it with such mastery it left you spellbound.  While I can't claim his flair, it's still a great closing technique when you need to get a home priced right -- which makes this one pretty timely, wouldn't you agree?
First, remember: You must present it visually; it makes much more impact.  As you present the dialogue, hand-draw the following diagram for your clients: … (15 comments)

home selling: LISTED. SOLD. 6 DAYS. - 02/21/08 04:37 AM
Yeah, what an awful market it is.  But -- lucky me -- I get to work with some really smart sellers who know that pricing to "leave a little wiggle room," doesn't bring offers, only lookers.  No, these sellers knew that if they priced their home at their no-dicker sticker, there would be several buyers who just might be a little afraid to lose it to someone else.  Sure enough, this bad boy hit the market and had five showings in 3 days!! Oh, yeah, and 2 offers.  There really ARE still buyers out there and they still DO compete for … (4 comments)

home selling: CLASSIC HOMES TOUR THIS SUNDAY ONLY! AND IT'S FREE! - 02/21/08 04:12 AM
Don't miss it!  The First Annual Classic Homes Tour of Ottawa Hills & Iroquois area's most elegant classic homes. From the all-brick, columned architecture of a Southern Colonial (1572 Alexander SE) to the all-brick Tudor just down the street, or the tastefully-remodeled two-story on Fisk, to the charmer on West Chippewa, you'll love seeing how these magnificent homes have been updated for today's living. Hey, if you don't come, we probably won't have a SECOND Annual Classic Homes Tour!!  

home selling: WYOMING 3 BR RANCH -- $104,900 -- JUST LISTED - 02/21/08 02:34 AM

One-owner home never offered before! Oak kitchen & bath in this well-maintained ranch. Lower level rec room and bath, range, refrigerator, washer, dryer, and air conditioner included. Vinyl siding, Garage, fenced yard, cul de-sac street. At $104,900, this one's smokin' hot! Ready to move in!  Fenced backyard and partially-fenced front yard.  Roof & mechanicals updated.  See more information at www.donphelan.com Click on "Preferred Listings."

home selling: Is your web site putting money in your pocket? Do you want it to? - 02/05/08 09:08 AM
Is your web site generating at least $25,000 in new business each year?  If not, read this!
Many Realtors have a web site because everyone else does.  They have no clear idea what they want their web site to do for them or how to make their web site put real money in their pockets.
In 2007, I generated more than $2.5 million in sales as a direct result of leads from my web site. 
My web site ranks as one of the top-ranked, most-visited real estate web sites in West Michigan.  Try this:  Go to Google, MSN, AOL or Yahoo!  Type in … (2 comments)

home selling: Even Alice in Wonderland had a Business Advisor. - 02/01/08 02:57 AM
In Alice's first encounter with the Cheshire Cat, the cat points out the fundamental flaw in Alice's business plan.
Alice: Would you tell me, please, which way I ought to go from here?The Cat: That depends a good deal on where you want to get to.Alice: I don't much care where.The Cat: Then it doesn't much matter which way you go.Alice: ...so long as I get somewhere.The Cat: Oh, you're sure to do that, if only you walk long enough.
Think about your real estate career.  If you walk aimlessly about, you will get somewhere, eventually.  But doesn't it make more sense to … (2 comments)

home selling: Real Estate and Texas Hold 'em -- Are you "All-In?" - 01/31/08 03:37 AM
Real Estate and Texas Hold 'em -- Are you "All-In?"
A career in real estate is a lot like playing Texas Hold 'em. 
One of the basic rules of the popular card game is "raise or fold."  That is, if you believe you hold a winning hand, raise the bet.  If you believe you have a losing hand, fold.  Throw your cards away. If you "check" -- hold off on betting until someone else does -- it suggests to the other players that you may not have a very strong hand and you're hoping for some divine intervention that will turn your … (1 comments)

home selling: Listings don't always sell overnight. - 01/30/08 06:27 AM
Wow!  What an understatement, right?  Market time is longer than ever right now and as hard as we might try to get price reductions, sometimes it's just not possible.  So we sit with an unsaleable listing and try to forget about it.  No advertising.  No open houses.  Pretty soon, we don't even want to call the seller.
Hey, I've been there, done that.  Several years ago, though, I made a committment to call my sellers, no matter if I had no news, bad news, good news, whatever.  I started to notice a change in their reactions to me but, more importantly, a … (7 comments)

home selling: When Logic Fails, Go to Emotion. - 01/30/08 06:00 AM
"When Logic Fails, Go to Emotion."
We've all heard this advice ... (haven't we?): When logic fails, go to emotion.  The premise is good; if what you're doing isn't working, try something else.  Simple enough.
But why begin with logic in the first place?  To quote a good friend, "Real estate is a drop of logic in a sea of emotion."  Why then, do we start with logic?  Shouldn't you start with emotion and go to logic if all else fails?
Why do we start with logic?  We start with logic because it is logical.  That's the way the process makes sense to us … (23 comments)

home selling: 21 Questions to Ask an Agent Before You Hire One. - 01/29/08 03:06 AM
If you want to get more listings, build your marketing plan and listing presentation to answer these questions.  If you don't, know this:  Your competition is. 
21 Questions to Ask an Agent Before You Hire One.©Don PhelanCopyright 2003Finding a real estate professional that´s right for you requires asking a few questions. You deserve to know what you´re getting for your money.1. What commission percentage do you charge? Is it negotiable? Under what conditions?2. Does your commission cover a full range of services, from marketing and advertising to processing and closing the sale? 3. Does your company charge "transaction fees" in addition to the commission or … (6 comments)

Don Phelan, Five Star Real Estate

Don Phelan

Five Star Real Estate

Grand Rapids, MI

More about me…

Office: (616) 791-1500

Mobile: (616) 648-0800

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Articles and Discussion about Grand Rapids and West Michigan Real Estate, Preparing Homes for Sale, Choosing a Realtor, Information about Grand Rapids Area Schools.



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