va: Appraisers "FUDGING" The Wrong Way Court Banks At Public Expense
- 01/16/08 05:26 PM
"INSERT EQUITY HERE!" We all know there has been some terrific controversy concerning some of the less reputable appraisers that inflated values during the recent market in order to obtain value that just wasn't there. There are some appraisers that are still riding that last wave until someone stops them...AND THEY WILL. I see several license suspensions on the Colorado Department of Regulatory Agencies web site for both licensed appraisers and real estate professionals. If I were an appraiser, you can bet that I would be as fair as I could by using viable comparable and actual, documented information pertaining to the properties that … (11 comments)
va: NEW NON-COMMITTAL PRE-QUAL LETTER FOR LENDERS...Funny!
- 11/27/07 05:37 AM
I have been receiving some offers on my listings lately that seem to have strong pre-qual letters attached, but as we progress through the transaction, I find that many deals are falling apart due to the lender's loss of programs, stricter underwriting guidelines, and general change in program guidelines that has occured as a result of the recent "scare" we keep hearing about. So, to ease the awkwardness in our relationship with our beloved lenders, I have devised this special non-committal pre-qual letter that says everything and amounts to nothing. That way, we have something to present at offer and can't … (7 comments)
va: How To ACTUALLY BECOME A First Time Investor
- 11/07/07 06:19 AM
I know you've all seen the late night commercials that promise millions of dollars working part time in the distressed/foreclosure market. You can get all the "insider secrets" for just a couple hundred to a couple thousand of your own hard earned money. There are even "mentors" and "partners" available to invest with you on a great project. In all actuality, these people are getting YOU to scout out the best properties for THEM when they do, (rarely), come through. This is about what you can get beachfront for 50k For years I have worked with seasoned and beginner investors in the Pikes … (2 comments)
va: Builder Models...Selling A Mirage!
- 10/30/07 10:37 AM
Here in the Colorado Springs real estate market, we see a lot of excess inventory in the new build market. Even in the best of times, there are many builders and models to choose from and you can go ground up or take a convenient spec if new is your thing...HOWEVER: Are they all the same? After almost 13 years in real estate, I can safely say that many people get starry eyed in their pursuit of ultimate comfort and trend in a home. I have seen many individuals, couples, and families make the mistake of purchasing a new build … (19 comments)
va: CHEAP HOUSES AVAILABLE IN ALL AREAS...THE PHONE RINGER
- 10/24/07 07:26 AM
This is the text of one of my most successful print ads. I started running it in a local paper in about 1999. I got a phenomenal response that drew many investors to work with me and helped me to find my niche. The ad did it's job. IT MADE THE PHONE RING: CHEAP HOUSES AVAILABLE IN ALL AREAS: CALL LANIA AT ______ REALTY, 719-232-5941
However, the down side of the ad was that it made the phone ring with all kinds of unqualified buyer or investor wanna be calls. People that had been to the English sounding guy's first name with the … (11 comments)
va: E-Contracts...A Low Ball Investor's Dream Come True
- 10/24/07 05:27 AM
In the very recent "old days", if you were a "low ball" investor, you had to find a real estate professional who was desperate enough to do all of these things:
1.) Spend their valuable time doing market research for likely low ball candidates 2.) Spend more time writing offers that would 99 out of 100 times be flatly rejected at the offered 50-65% LTV 3.) Spend actual money on printing these offers out 4.) Spend more money on gas by driving to agencies to present such offers or time on faxing 5.) Follow up on the offers to make sure they were received and presented The list … (2 comments)
va: Back to Mac and Cheese and Ramen Noodles...
- 10/07/07 03:21 PM
When I started selling over a decade ago, I would tell all of my lucky first time Colorado Springs home buyers that they were about to realize the American Dream! Oh, it may mean that they'd have to eat a lot of mac and cheese and Ramen noodles for a while, but it would all be worth it in the end...they would be HOMEOWNERS! Yummmmmm! Attractive bowls help with presentation. They're better when you cook em' in the flavor packet. I can remember the clients shaking their heads and gratefully telling me how long they had waited for this dream to become a reality. … (11 comments)
va: Knowing Financing Options is Essential
- 05/20/07 01:32 PM
One thing I notice as I embark on my exciting first year as a Broker/Owner is that many agents, even seasoned agents, have not taken to the practice of keeping up on financing options for their buyers. Early on, I found that if I kept abreast of all the available bond programs, first time buyer incentives, bank statement programs,credit score driven loan programs (no doc, reduced doc, no income/asset), no debt ratio programs, etc...that if a prospect would give me an objection about why they haven't gone house shopping lately,and it was due to lack of financing options, I'd know what was out there for them. Today, one … (0 comments)
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