Archives of real estate blog entries for October 01, 2006

Several MLSs around the country are powered by Rapattoni MLS.  I-Tech MLS in the Glendale, Pasadena, Foothills area of Southern California is one.In November of 2005, I-Tech MLS upgraded to Rapattoni's MLS Version 10. To my knowledge the I-Tech management did not seek member input before making the upgrade. But, OK. Here's the little blurb from a broadcast message last year describing the new features available in the upgrade: MLS v.10 will feature a robust customizeable MLS Home page, keyboard shortcuts, an Options pane, a new combined Radius/Map Search, and other new tools. The new MLS v.10 requires users to set their screen resolution to 1024x768 or higher (please check the i-Tech Home Page for a video on how to do this). Pop-up Windows will still be utilized, so please make sure tha... 10/01/2006

How many times have you gone to a closing as a listing agent and watched the drama unfold over whether or not the purchaser is going to buy title insurance? Most of the time, they are clueless about the cost and benefits. Oftentimes, the settlement agent isn’t much help because he then has to disclose that he gets to keep a big chunk of the premium as a commission. What do you do? I am not an attorney, but I have been around long enough to know that if you are in ownership of real estate, you should seriously consider having an owner’s title insurance policy. With all the price increases over the last seven years, insurance premiums have increased too. Now they offer a scaled-down version of owner’s coverage for less cost, but if you didn’t know about it before getting to the table, ho... 10/01/2006

Unfortunately for sellers... they are still in that mode that it's still a sellers market and they are still looking to get that big 25% return we were all getting the last 3-4 years, I ...as well buy property and sell,rent or flip or whatever else you want to call it so I can relate to their disappointment. But because of rising property taxes and ridiculous reasons insurance companies just drop HO's like a hot potato. Prices are starting to level off and I anticipate that they will surely start to drop at a drastic pace if something isn't done.I remember when things were different and they were just used to those crazy returns. If you think about it.... in a normal market we should be seeing about a 3-8% return. That market was unreal and it did exist but I thinking that eventually i... 10/01/2006

(Uh, John, this is only October 1st...) Before you dismiss this as just a crazy idea, let me give you one of my beliefs. Everything we have today is a result of what we did 90 days ago. Think about what you were doing in July. Was it prospecting, marketing, going on listing appointments? And today, do you have listings, escrows and maybe a few checks in the bank?This is the time of year when agents start talking about the market slowing down. They say 'nobody buys around the holidays, it will pick up after the 1st of the year.' With that mindset it is very easy to get complacent and lose all of the business momentum that's been built up during the year. Don't fall into that trap! Follow the advice of Broker Bryant and finish strong.In the Las Vegas market from 12-1-05 to 1-31-06, there ... 10/01/2006

Back on August 15th we started a contest to see who could come closest to guessing the number of members we'd have on the ActiveRain Real Estate Network on the beginning of October.  At the time of the contest starting (82 days after launch) we had 3,158 members.At the stroke of midnight last night, 45 days later we had 6,306 members.  There were only 3 members that came within 200 of the correct guess, and amazingly 1st and 2nd place was only seperated by a 1 signup margin.  So without further ado, here is you top ActiveRain psychics... 1st: Mitchell Hall (6,316) Margin of error: .15%New York Zestimate mean margin of error: 10.8%  2nd: Ben Kakimoto (6,295)Margin of error: .16%Washington Zestimate mean margin of error: 5.0%3rd: Joshua Plummer (6,256) Margin of Error: .79% Michigan Zesti... 10/01/2006

I`ve read some great posts today about showing instructions ( daniels and pavey). both professionals discuss how difficult it is to locate a Realtor in South Florida on a Sunday.      Many times, i believe Sunday isn`t the only day that a Realtor can`t  be found.In fact lets say it`s difficult Mon-Sat. as well! There is a home located in Weston that our client wanted to see. It took me 4 x`s to contact the Realtor to no avail and another 2x`s to get to the office.     The point is that my client realized that the motivation of the Realtor and maybe the seller was nil! Although, i`m not criticizing Realtors who have previous commitments or other sources of income it`s important that you as a professional do have responsibilities.     There should be a fine imposed by our local boards of ... 10/01/2006

Let's talk about Seller interviews. Yep, that's right Seller interviews. when I go on a listing appointment, I know in advance that the listing is mine. why? Because I'm great! Well, maybe in my own mind. But seriously, I have the mind set that if they are calling me to list their home, then they have already made up their mind to give me their business. They could be meeting with other realtors as well, but frankly, I am never concerned about that. Cocky? Probably. But I do know from my years of experience that it is very rare that I will not leave with the listing.So, I go in prepared to have a new listing. I approach listing appointments as an interview, except I'm not the one being interviewed. I am interviewing them to see if they are someone I want to work with and to see if their... 10/01/2006

This is a synopsis of an hour and a half class that we recently taught, at our local Keller Williams office. I'm certain that you will find a lot of this very useful...Point #1: What is an ad? A seller usually wants to know that their property will be advertised in a magazine ad. Having a magazine ad may increase your chances of getting a listing. BUT... did you know that less than 3% of homes are sold because of an ad in a magazine? Then why advertise in a magazine? ... to get buyers. Point #2: Who cares? Did you know that real estate agents are one of the TOP 5 SALES PEOPLE THAT THE PUBLIC HATES TO DEAL WITH? (1.Telemarketers, 2.Loan Officers, 3.Car Salesmen, 4.Real Estate Agents, 5.MLM reps/ military recruiters (tie).) So, making your ads focus on your face is not a good idea- ((espe... 10/01/2006

A few weeks ago there was a thread about doing an informal get together to ActiveRain members in the Seattle area.  I'm finally making an executive decision here and we're going to meet up the evening of Wednesday, Oct. 11th at Buckley's on Queen Anne.  Buckley's is a fairly quite neighborhood restaurant and pub.Anyways I'll be there, and ActiveRain members are invited to show up and talk, network and chat.  If you thing there is a good chance that you'll be there, please reply by commenting on this post so I can get an idea of who might be there.  Maybe we can start making some plans for that Las Vegas meet up, while we're there :)Hope to see you there...Update: Forgot to put a time on there, I plan on being there around 6:30 and will probably be there most of the evening.-Matt Heaton ... 10/01/2006

In homage to Angus Woodbury, pictured at right is my latest tech gadget (the crutches, not the model).  Unlike Angus, I did not covet my new tech toy before purchasing, though I did request an upgrade in the accessory that came with:  a black surgical boot.  I asked if they had purple.  The doctor laughed, but not too much.  Black is all they carry. As a result of some 'help' from my precocious three year old, I spent most of the afternoon Sunday in the emergency room being X-rayed and diagnosed with a broken bone in my foot.  "Ouch," proclaimed the x-ray technician, when the image popped up on her screen.   I am a klutz on the crutches, having never broken any bone until today.  Dmitry didn't like it when I made a "POP" noise as I re-enacted the accident for him.  The "POP" grossed hi... 10/01/2006

Joel Cantor, developer of Signature Place, an architecturally unique condo tower to be build in downtown St. Petersburg, Florida, knows how to keep his clients and their REALTORS® interested - there was a great party to announce the opening of the sales office in the old office building in the site. The setting was so changed you couldn't believe it was the same place. Then when the wrecking ball was scheduled to make it's first hit on the building, there was another cocktail party. Sound old building - it took a few hits before the building even gave up some dust. So, we've watched the building come down (no implosion for this one, just the wrecking ball and dump trucks). This week is another party - explosives will be used to blow up 2 concrete test pilings to determine how deep they ... 10/01/2006

When a new highrise (usualy a condo) is announced for downtown, everyone nearby is concerned about what will happen to their view.  Most people don't have perspective, and even if they see a drawing in the newspaper, they can't relate to what's where on the building site, or how it will affect them.JMC Development, a local firm with a great reputation, has built a series of projects over the last two decades, each a bit grander than the last. His latest, Ovation, in downtown St. Petersburg, Florida, has prices that START at $1,900,000. At the turn of the century (sounds historic, but that's only 6 years ago) JMC completed a luxury condominium next door on Beach Drive, the Florencia. Naturally the residents, especially those on the north side, were concerned about their potential loss of... 10/01/2006

On Friday, an agent faxed over an offer on one of my listings - didn't call, didn't make any comments on the fax, but that's ok. No sellers' disclosure signed - guess they didn't check either the MLS or the property website to download that ahead of time.  No preapproval letter - that's not good.Let's review it: Full price offer at $650,000 - that's nice! 95% financing - umm. Closing Oct 31 - ok. Typical 1.5% for repairs - ok. Inspection within 10 days - that's normal. What's that miniscule mark in a box? Oh, they want to choose the title company - well, we'll change that. Additional terms - seller to pay 3% of buyer's closing costs and/or prepaids. Well, still not a bad offer. Which addendums are checked? assignment clause - inspections, assignment, and property disclosure statement."I... 10/01/2006

Several MLSs around the country are powered by Rapattoni MLS.  I-Tech MLS in the Glendale, Pasadena, Foothills area of Southern California is one.In November of 2005, I-Tech MLS upgraded to Rapattoni's MLS Version 10. To my knowledge the I-Tech management did not seek member input before making the upgrade. But, OK. Here's the little blurb from a broadcast message last year describing the new features available in the upgrade: MLS v.10 will feature a robust customizeable MLS Home page, keyboard shortcuts, an Options pane, a new combined Radius/Map Search, and other new tools. The new MLS v.10 requires users to set their screen resolution to 1024x768 or higher (please check the i-Tech Home Page for a video on how to do this). Pop-up Windows will still be utilized, so please make sure tha... 10/01/2006

   What’s with all of these sickos?  Congressman Foley is all over the news, having just resigned his seat after sending sexually explicit internet messages to young boys!  His response, “I am deeply sorry.” Listen you twisted fuck, Keep your sick, perverse, illness in your filthy mind or seek help! Once you act out your obscene fantasies, you’ve crossed too far over the line for apologies!      I had blogged about what I would do if I was God. Here’s one for all to consider:  I would feed you feet first into a tree chipper, nice and slow while I was poring alcohol over your body.  Some may consider the alcohol painful and inhumane, others would argue that it would keep your wounds sterile for the few seconds it would take for you to die!  No mercy for these types! 10/01/2006

Today’s the day!! October 1st. The 4th quarter is here. Only 92 more days to make money this year. Man, I like this time of the year and I like it a lot. I have goals to meet and now’s the time to get to work. My goal is to get all 17, of my current listings, pending before Thanksgiving and closed before the end of the year. Will it happen? Why not? There’s time. I have 7 weeks left, that’s a sale every other day. I’ve done that before, I can do it again. After all I don’t show houses, so all I have to do is get Realtors to show my listings and negotiate deals. So, last week I started hitting up all my Sellers for price reductions. I even had a few call me suggesting it. They know the holidays are closing in and if we don’t sell by Thanksgiving, we could be dead in the water, until the ... 10/01/2006

How many times have you gone to a closing as a listing agent and watched the drama unfold over whether or not the purchaser is going to buy title insurance? Most of the time, they are clueless about the cost and benefits. Oftentimes, the settlement agent isn’t much help because he then has to disclose that he gets to keep a big chunk of the premium as a commission. What do you do? I am not an attorney, but I have been around long enough to know that if you are in ownership of real estate, you should seriously consider having an owner’s title insurance policy. With all the price increases over the last seven years, insurance premiums have increased too. Now they offer a scaled-down version of owner’s coverage for less cost, but if you didn’t know about it before getting to the table, ho... 10/01/2006

I have been so busy this fall that sometimes I feel that things start to slip through the cracks and I must admit active rain is adding to by problem - it is so interesting that when I should be making lunches instead here I sit...  Blame it on active rain -  Anyhow... back to my story. My oldest daughter just started in kindergarten.  We walk to school and she seems to really been enjoying her first year of school.  I have been meeting all the moms and talking trying to find out what really going on inside that classroom.  Well, I met this really nice Mom whose son sits next to my daughter at school and she was very upset.  It seems her son was coming home with all sorts of bad words and said these big kids had been chasing him on the playground and pulled his pants down. Mothers of ki... 10/01/2006

Title Insurance in Texas is different than Title Insurance in other states.  First, most states are covered by the American Land Title Association forms and Texas has specific forms and endorsements which are required by the government.  Most title companies in Texas include both title and escrow services.  Some service providers are not true title companies but are merely mobile notary services.  When you order title insurance, you should know whether the company you choose is a mobile notary service or if it is a real title company.  Some companies send a mobile notary to conduct the signing ceremony and may pay the notary only $75 for going to a location and conducting the signing.  Other companies, such as mine, use our in house closers for both closings at our offices and for signi... 10/01/2006

It is often said the American Dream is owning your own home. But, is it right for you? There are risks involved and understanding these will help you make a good decision for you and your family.1. Increase in monthly housing expenses. Taxes and insurance costs related to your home are sure to increase overtime, but usually these increases are off set by tax advantages and a pride of ownership.2. You are your own landlord. No more calling the landlord when something breaks down. Maintenance and upkeep are yours. but, youo can also decorate anyway you want!3. You must sell to move. No picking up and moving with a 30 day notice. You must plan ahead and give enough lead time to get your home sold before relocating. However, you benefit from the equity buildup since you first purchased your... 10/01/2006

This is "Mr. Potato Head", Rhode Island's alter symbol.He is not the symbol of Rhode Island...."Rhode Island Red"  a rooster,  is our actual symbol.This picture was taken in Bristol, Rhode Island at the Wonderful 4th of July Parade held there each year.Mr. Potato Head comes in all different styles, or dress, I should say. I chose this one because he is Patriotic.Does your State have an "alter" symbol?  It would be interesting to see them.  10/01/2006

There is just so much you can write about here. A deal you are working on, what works on the internet, how you build your business. I can see that some people are even using this as a place to vent. I did that a few days ago. You can use it to market. I even see some people use it like a chat room on AOL. I am still reading and watching and fuguring out what it is all about. But I do know one thing it is catching on and spreading. So since I want to make people think by asking good questions. I would ask this. What are you posting on Active Rain for? What do you get out of it? What do you like to read about? Is it really worth something to you? 10/01/2006

   I gave up blogging for points after the first two weeks on AR.  The pressure was just too great! I find that I write and contribute better when I’m doing it to provide substance of value to my fellow readers!   Today, my 6 year old son Charlie was looking at the site and asked me who “that girl was” whose picture was just above mine. It was a picture of another AR blogger.  I told him it’s someone that participates in the website.  He asked me why her picture was on top of mine. I told him it was because she had more points then me.  He asked me why I didn’t have more points then her. I didn’t really have an answer. He then said “Daddy, I want you to have 180 million points!”  I asked him if he would give them to me? He said yes because "Daddy, you are nice, you’re the best daddy, yo... 10/01/2006

From the self appointed Queen of Questions, to make people think and share with me what they know. So we can all learn. A good friend David Eiglarsh turned my on to the Xerox free color printer program. Xerox Corporationwww.FreeColorPrinters.com1-888-518-2076I thought it was great. The quality is tops. and it is free as long as you buy supplies from them. If you print 2000 pieces a month then you can qualify. That is not much when you do brochures / flyer boxes / Forms etc.If you sign up tell them Christine Adler PA Sent you. I think I get some ink of you say I sent you.What is your favorite Color Printer?  10/01/2006

Okay, you've been hearing since day one how important it is to purchase your own domain name for your website, and this is very important. But the way you position that domain in the market place is also very important. While you know what your domain says, most people don't. You should make it easy for them to read by capitalizing the first letter of each word when you use it in your marketing materials. My domain is yourhernandohome.com, which just looks like one big word when written without capitals, but look at YourHernandoHome.com. It's much easier to read quickly & to remember. Domain names ARE NOT case sensitive, so it doesn't matter if you use capital letters or not, they will still end up at your website. Mixing up lower & upper case letters give your domain a better appearanc... 10/01/2006

Below is an excerpt from a press release from the National Auctioneers Association.  It references an industry trend study that NAA conducts every year.  This is from 2005.  2006 numbers are not in yet.According to the NAA’s study, auctioneers found opportunities in real estate. Gross revenue from residential real estate auctions grew 8.2 percent compared to the same time last year. The value of all residential real estate sold at auction in 2005 is estimated at $13.1 billion. While revenue from commercial and industrial real estate auctions and vacant land and agricultural real estate auctions remained largely unchanged, real estate auctions remain on pace to top $48 billion in gross revenue for 2005.While the amount of real estate sold by auctioneers is well behind the amount sold by ... 10/01/2006

Here are a few things you might want to do to get your house ready to sellSweep the sidewalk, mow the lawn, prune the bushes, weed the garden and clean debris from the yard. Clean the windows and make sure the paint is not chipped or flaking. Be sure that the doorbell works. Clean and make attractive all rooms, furnishings, floors, walls, ceilings, and it's very important that the bathroom and kitchen are spotless. Organize closets. Make sure the basic appliances and fixtures work. Ensure that the house smells pleasant.These are some very basic things you can do for your home. Even if you are not selling your home you can do these things just for pride of ownership. If you don't have any pride in your home no one will. Try to remember what brought your attention to your house when you b... 10/01/2006

It's very important to price your home appropriately relative to current market conditions. Because the real estate market is continually changing, and market fluctuations have an effect on property values, it's very important to select your list price based on the most recent comparable sales in your neighborhood. A comparative market analysis provides the background data on which to base your list-price decision. Study the comparable sales material presented to you by the different agents you interviewed initially. If the analyses are more than two or three months old, have your agent update the report for you. If all agents agreed on a price range for your home, go with the consensus. Most excitement about a home comesd when it is first listed. If you over price your home people may ... 10/01/2006

Last week, I sent an email to the AR guys. Not because I care about my rankings here on AR, but because I felt that I was unfairly criticized. (points removed).  I provided a list of the items that are in my operations guide.  It took me years to refine and revise the guide to where it is the bible for running my business. McDonalds, one of the world’s largest corporations, is run by pimply faced teenagers! How, because they have systems in place that are easily taught to these kids.  I’ve taken that and made my own guide.  The AR guys didn’t feel it was valuable information and reduced my points (despite the positive comments). Then you get something like this to put it all in perspective:                                                                                            10/01/2006

 What does your front door say about you?  We've all heard that the front door is one of the most important elements in a house and it is true.  The front door not only echoes the architectural style of the home, but sets the tone for the rest of the home.  When we take a new listing, we stress the importance of the approach to the house; a clean walkway free of debris, potted flowers or plants to make a great first impression, clean and visible numbers, nicely painted or finished door, well lit, hardware in good working condition, avoid clutter, and please oh please make it CLEAN!  Spider webs are for Halloween (and maybe not even….see Halloween Decorations or DISTRACTIONS?)If you want to add your own personal touch, do it with the entrance matt or a wreath or simply with plants or flo... 10/01/2006