slidell homes for sale: Question
- 09/24/07 12:33 PM
I need some input from my fellow Realtors. I know i can get the needed information from you. I have a neighbor whose son-in-law has been activated for the Army. They are currently leasing an apartment that doesn't want to let them out of their lease. Does anyone know of a law that will exempt them. After all this guy is going to Iraq, I think we should thank him and give him all the support we can. I will be glad to read your suggestions. Thanks. … (8 comments)
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slidell homes for sale: What do you know?
- 09/23/07 11:54 AM
If anyone remembers my blog from a couple of days ago, I said I was going to try something new. I put my canopy right in front of my open house. What do you know we had two visitors and wrote one offer. Considering we didn't advertise because of possible inclement weather not bad. These houses are a screaming buy. I will post some pictures for people to take a look.
… (2 comments)
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slidell homes for sale: Desperate Times
- 09/21/07 01:15 AM
I have some listings that just aren't generating much activity. So I am pondering doing something radical, at least for me. Gone for now are the days when sticking a sign in the front yard will get results. Starting this weekend I will start camping out on the front lawn with my canopy, table and chair. I will have to chase anyone down who even slows down. What can I say desperate times call for desperate ways. … (8 comments)
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slidell homes for sale: Frame of Mind
- 09/19/07 12:56 AM
I caught a lot of grief with my last blog. I wrote about the interest rate cut and maybe it would help mortgage loans a bit. Just look at the response the market had to the rate cut announcement. You can't tell me when the market goes up, the wealth effect from it helps one frame of mind. Even if it doesn't go up a bunch you still feel wealthier than when it declines. At least it makes me feel better. … (4 comments)
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slidell homes for sale: Fed Watch
- 09/17/07 01:15 PM
I like other Realtors and economists etc., are eagerly awaiting their decision tomorrow. Most economists expect a quarter point drop. I don't think this will ignite a fire under home buyers but it is a move in the right direction. I think it will still have to go lower and then people might get the confidence to dip their big toe in the water. I just wish I had a crystal ball to know what twelve months down the road holds for us. … (7 comments)
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slidell homes for sale: Who's to Blame
- 09/16/07 12:00 PM
I heard Alan Greenspan on Sixty Minutes tonight. You remember him right? The former Federal Reserve Chief. The one who set the interest rates for the economy. After the terrorist attacks he lowered the rates to one percent or so. Well the mortgage companies were still charging 4-5 percent. This was a huge spread for these companies. They were making a fortune. This also led to increasing home prices. People were using their homes as ATM's. The good times would last forever. Well guess what, they didn't. People's income didn't keep pace with rising home prices. I believe everyone is to … (4 comments)
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slidell homes for sale: Staying Active
- 09/13/07 01:12 PM
Even though the market is a bit slow, I have been keeping fairly busy myself. I dig up old contacts and keep my name in front of them. This isn't insurance people love to talk about real estate and how it pertains to them. I also realize more than a few people don't have the first clue of how to buy or sell a home. Boy do I love those guys. I am always glad to be of assistance.
Give it a try people talk to two or three people a day and you will be surprised what happens. These people … (2 comments)
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slidell homes for sale: Why So Much
- 09/12/07 10:30 AM
I recently put a for rent sign on my rental property. New to this business, this was the first time around for me. A lady passing by asked about the rent. I promptly told her and I could tell by her face she thought it was to high. I then told her I had spent a lot of money to get it in good shape. They were like new inside. I told her to come and take a look which she turned down. Anyway my point was to show her what her money was going to get. She could find something … (7 comments)
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slidell homes for sale: Reasonable People Update
- 09/11/07 09:40 AM
I just wanted to give an update to everyone who read my post last week. The listing broker finally persuaded his agent to sign over his share of the escrow money. I just wondered what took so long? Any way I found out from him that the next door neighbors house is going up for sale. Guess what? They want to use the same listing agent I just dealt with. I believe I am going to take a drive and visit these unsuspecting people. Maybe I can be of use. I will let you know. … (2 comments)
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slidell homes for sale: Reasonable people
- 09/09/07 03:13 AM
I hope everyone is having a good weekend. I can't wait for some fall weather to move in. I recently closed a rather difficult deal on a modestly priced house. In the end the listing agent never fully read the purchase agreement to the seller. Seems the seller removed items that were in the agreement. When this was brought up before the closing the agent hadn't even realized this. To make a long story short, the agents (myself and you know who) agreed to escrow some funds. The seller was to return the items and the money would be released to us … (8 comments)
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slidell homes for sale: My how things have changed
- 09/07/07 10:44 AM
I just read that they expect more foreclosures than new homes built. WHAT are you kidding me? I can't believe things have gotten this far out of control. I believe the loan officers and mortgage companies lowered there standards to much for profits. Well one thing I am sure of is there will be a price to be paid. This will come the way of layoffs, reduced earnings etc. Maybe they will learn by their mistakes. Somehow the blame always goes somewhere else. … (1 comments)
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slidell homes for sale: Doesn't get any better than this
- 09/05/07 02:30 PM
Hey Eric look what I was catching this weekend. Caught this beauty in Black Bay in St Bernard Parish. This parish was destroyed by hurricane Katrina in 2005. Sad to see when I drove by the neighborhoods still aren't very populated. Anyway I know you are jealous. This one was the only redfish we caught along with about 40 trout. Caught them at Lonesome Island. … (2 comments)
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slidell homes for sale: Big daddy to the rescue
- 09/04/07 04:54 PM
Don't worry everything is going to be swell. The feds are going to bail all of those who got in over their heads. You remember, no money down loans, 50 year amortizations. No problem we will take care of you. How about for once letting the free market work off the excess. The housing industry along with the mortgage companies got a little to ambitious. Also the hedge funds, pension funds etc. saw unending easy profits from real estate. I say rattle the can and lets see what falls out. … (0 comments)
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slidell homes for sale: Summer Doldrums
- 09/03/07 12:48 PM
Yep that is where I am. The phones aren't ringing much, the e-mail has all but stopped, not even the wind is blowing. Whats a Realtor to do? I decided to get off my duff and beat the bushes. First I called and spoke to as many of my old clients that I could find. Second I started some advertising. I don't know if this will work but I have to keep my name in front of people. I would love to hear how others keep their name in front of their clients. … (1 comments)
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slidell homes for sale: When thr other shoe falls
- 08/31/07 07:56 AM
I recently read there is over a trillion dollars of securitirized low grade mortgages outstanding and three-quarters of a trillion dollars whose adjustable rates are slated to rise over the next year. This means the other shoe hasn't fallen yet. I believe until this is worked out of the system the nausea in the housing industry will persist. This will take longer than I first thought. This will take two to three years more of pain. Those of us who hang in there should be rewarded over time. … (2 comments)
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slidell homes for sale: Taking shots at countrywide
- 08/29/07 12:25 PM
I overheard a senator from New York today blaming the credit woes on one company, Countrywide. How do you like that. Wasn't it the government who wanted to put everyone in a home. Sounds like a typical politician blame someone else. I also over heard an executive of a private bank and he was right on. When you lower lending standards you are asking for trouble. His bank was sitting pretty because they didn't make any risky loans. Common sense that is what we need in government. … (4 comments)
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slidell homes for sale: Housing prices
- 08/27/07 12:13 PM
Looks like for the first time in my lifetime house prices will decline. Seems we will have to pay the devil. We had such a good run for so long it caught up with us. How long and how deep it will go is anybody's guess. Personally I think it will last for a few years. You are fine if you bought years ago but not if you bought recently. Many people are actually upside down on their mortgages. We will still have some demand but it will be much softer than before. I think rental property will be the way … (4 comments)
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slidell homes for sale: Sellers
- 08/26/07 12:32 AM
I keep reading and hearing about the great buyers market. I know there are plenty of homes on the market. I believe the vast majority of the sellers are only going to drop prices so far. After-all they also will have to buy elsewhere at market price..This market price has gone up quite a bit over the past fifteen years or so. Even building a home is expensive. My point is the market will determine where the real estate industry winds up. No one is smarter than the market. The market will do as the market will do. … (4 comments)
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slidell homes for sale: Excess Inventory
- 08/25/07 01:27 AM
I drove past several new developments in the Ponchatoula area. This is about 45 miles West of Slidell where I live. I guess there were forty to fifty houses all together. I believe only three didn't have for sale signs. There were also some developments that only had roads and nothing else. I blame the housing problem on the developers and the ones who loaned the money. It is going to take a long time for this inventory to be bought by buyers. … (3 comments)
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slidell homes for sale: Do you have an agent
- 08/20/07 10:20 AM
I received a phone call yesterday on a listing I hold. I promptly and clearly asked the man if he had an agent. His response was no he didn't. So I made arrangements to show the property today to him. I had the dual agency papers for him to sign. All of a sudden he has an agent. That's ok, I just wish he was honest up front. I was all dressed up with no where to go. Oh well I hope they make a nice offer. I am sure many of you have had this happen to you. … (13 comments)
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I need some input from my fellow Realtors. I know i can get the needed information from you. I have a neighbor whose son-in-law has been activated for the Army. They are currently leasing an apartment that doesn't want to let them out of their lease. Does anyone know of a law that will exempt them. After all this guy is going to Iraq, I think we should thank him and give him all the support we can. I will be glad to read your suggestions. Thanks. … (8 comments)
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