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Marketing Tele-seminar Thoughts
2008-05-30 20:30:00
Looking at my notes from my Marketing Tele -seminar yesterday; a few things that may be of interest to Real Estate Agents interested in growing their business. 1. Marketing has two edges. One is that done right it is the lifeblood of an Agent's business. The other is that it can be a source of anguish, pouring money into marketing that gets few if any results. 2. Who you send stuff to and what you send matters. This is versus the old philosophy that it doesn't matter what you send as long as you send something. The old philosophy worked in some markets before the Internet; not or much less now. 3. In today's markets providing something that distinguishes you and adding additional value by sending people to your web presence multiplies your results. There is more but that is what's on my mind as I blog to you today. By the way if you want to listen to a recording of the teleseminar just e-mail me, Rebecca@RichLevin.com wi...
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How does a hurricane affect my buying or selling a home?
2008-05-30 20:21:00
Hi all! The weather here has gotten in to the high 80's over the past couple of weeks with "abundant sunshine" as weather persons like to call it! BUT, as you may or may not know, June 1 marks the beginning of Hurricane Season (I'm from the midwest where a "season" meant we hunted for and killed it...). Well for those of us that do or have lived in areas ravaged by hurricanes, we know first hand the havoc it can cause. And when you are buying or selling a home, watching one "come this way" can be stressful. You have your house on the market to sell, and now "they" are telling you to evacuate. Or better yet, you have a contract on your house--whether you are a buyer or seller, and suddenly you find out you can't get insurance to close on your set closing date. While dealing with a hurricane is stressful in itself, you can mitigate some of it when buying or selling a home. In the state of Florida, if a named storm enters the Gulf of Mexico, all...
More About: Buying , Selling , Home

Lots going on here in Silver Springs
2008-05-30 20:10:00
Got a note this morning that nobody has heard from me lately here.... hopefully I am busy selling real estate. That IS the reason I have not been posting for a while. Over the last week, I have gone out looking at properties with 4 different parties; one of my listings went into escrow, and property management is picking up. Good news, the investors are buying. Investors don't buy when they think the market still has not bottomed out. All those bank-owned and pre-foreclosure properties are starting to move. Its a good sign. I have recently spoken with several lenders, appraisers, title officers and other people who make their living in the real estate industry and it seems that everyone is noticing a bit of a pickup in activity. Its still an election year, and late spring/early summer are typically a busy time for real estate anyway. However, after the last two years of bad news and almost no movement in the market, its a huge relief to se...
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The Cliffs Communities--The Cliffs at Mountain Park
2008-05-30 17:58:00
The Cliffs Communities --The Cliffs At Mountain Park This week I am focusing on the Cliffs Communities. The Cliffs are Master Planned communities centered around signature, designed, golf courses. The Cliffs Communities currently have 7 communities located in Western North Carolina and Upstate South Carolina. The latest Cliffs Communities Development, The Cliffs at Mountain Park, opened recently and currently offers some amazing home sites and completed homes. Amenities to this wonderful community will include a Gary Player Signature Course, Shopping Village, Organic Gardens, Nature Trails, and wellness facilities. Greenville South Carolina Greenville SC Real Estate Next week, I will focus on Cliffs Valley in Upstate South Carolina.

Aviod These Mistakes Homebuyers Make!
2008-05-30 16:59:00
Avoid These Mistakes That Homebuyers Make ! It's still a buyer's market...and if you are thinking of buyer a home, consider these common mistakes that many buyers make. A good Realtor will counsel you to avoid them: *Use the same agent that lists the home you want to buy. This arrangement can work, but know that the listing agent's loyalty is first to the seller of the home. As a buyer, it's better to have your own buyer's agent working for your best interests. *Fail to have a home inspection. The money spent for a home inspection is well worth it--especially if you use an experienced home inspector. On the other hand, don't get too concerned about every little item that needs repair on the report. Home ownership requires maintenece--determine what are the most important repairs first, then plan to take care of the other smaller issues within the first year or so. *Compare mortgage lenders and their closing costs. Know the difference...

Virtual Open House 1511 Locust Street #508
2008-05-30 16:56:00
Don't miss this virtual open house tour for1511 Locust Street , #508, St. Louis, Missouri, Sunday, June 8th, 2008 from 4:00-5:00pm: Visit www.Virtual Open s.com to register for this exclusive event. Attendance is limited to the first 30 attendees to participate in the forum of online discussion, question and answer session that will also be available in video download format. This loft features luxurious living loaded full of upgrades which makes it a STANDOUT among the rest. The kitchen boasts maple cabinets and custom built pantry which cater to those who require additional storage space. All kitchen appliances stay which include the refrigerator, stove, dishwasher and microwave, and has its own private full size laundry hookup. Upgrades include solid wood flooring, granite countertops, custom pantry, custom lighting, 12 slate tile bathroom, separate shower and bathtub. The building offers an exercise room with TVs, two hot tubs and an ex...
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Jumbo Mortgages - What Are They? How Can We Work With Them?
2008-05-27 04:41:00
Anyone in a price range over $400,000 is probably aware that the jumbo loan market has been out of whack for nearly 18 months. "Jumbo " loans, those amounting to more than $417,000, were significantly affected when mortgage investors stopped buying subprime and alternative loans. As a result, jumbo rates can be as much as 1.50 percent higher than conforming rates. Historically, jumbo rates were only about a quarter of a percent higher than a conforming rate, but this new spread has kept many out of the housing market. So what exactly is "just jumbo?" It's a loan amount that just exceeds the conforming limit of $417,000 and typically reflects a sales price in the $500,000­­-$600,000 range. In the Richmond Metropolitan area we have a number homes and communities in this price category, and the significant difference in rate from conforming to jumbo is slowing down sales. What is the difference in payment between a conforming loan at 6 percent and a...
More About: Work , Mortgages

A great hope for the future
2008-05-27 04:18:00
I was watching a recorded tape of "21 Up Japan" on television last night. It's the latest Japanese instalment of a groundbreaking documentary series that started in the UK in 1964 with 14 seven year old children taped every seven years of their lives. Its premise is based on that of a Jesuit saying "Give me a child until he is seven and I will give you the man." (http://en.wikipedia.org/wiki/Seven_Up!) The latest instalment of the UK series is these same children, now all grown up at 49. As far as reality television goes - I think this is pretty much the ultimate and I find the documentaries deliciously fascinating. They've also started replicating the series in other countries including Russia, South Africa, the USA and of course Japan which is how I ended up watching the third Japanese instalment last night. At the end of each individual interview each 21 year old Japanese participant was asked what they hoped for the future. One spoke of wa...
More About: Future , Great , The Future , Hope

Know Your Loan Programs !
2008-05-27 04:11:00
As I continue to attend advanced real estate classes, I am continually amazed at all the information that is both available - and vital - for marketing real estate. Whether you are buying or selling - what you don't know can cost you big. So - use a licensed agent ! But, that's not what I'm writing you about today. Most people know that there are a number of different ways to finance a new home. Everyone has heard of FHA, VA and, of course, "Conventional". Did you know those "big three" are only a small portion of loan programs available to you today? Many banks have customized programs to address the needs they see in their local market. So - what's the lesson ? Don't assume you know how you will finance your next real estate investment ! Call your favorite bank or mortgage company, make an appointment, and have them tell you what is avalable. You would be surprised ! For instance - have you ever heard of a "Rural Development" loan ? N...
More About: Programs , Loan

Visiting Verrado
2008-05-27 00:54:00
Unbelievably it's another beautiful day in Arizona although it's almost June. Last Monday it was 108 degrees, but today is gorgeous, with temperatures in the mid- high 70's. We know it won't last, and we enjoy every minute of it. Today my sister (who is my real estate partner) and I visited Verrado, a planned community in Buckeye, Arizona. We had seen all the hype when it opened 2002, but had never made the effort to go there and see what it was all about. Much to our surprise we fell in love with the place! We spent over an hour driving around and found it to be a beautiful, clean community where we could certainly live comfortably. I immediately through of my daughter, who lives in Santa Clarita, California and commutes daily to downtown Los Angeles. She and her husband are expecting triplets in October, their first children, and their lives will change forever. Verrado looks like a great place to raise kids, and when we spoke to a fami...

Sommelier's Secrets: How Wine Works
2008-05-27 00:21:00
Marnie Old, one of the country's leading wine personalities, will give a great wine tasting class on Saturday, June 7th from 6:30 p.m. to 8:30 p.m. at the Astor Center which is located at 399 Lafayette Street, New York, New York 10003 (at East 4th Street). Have you ever wondered why region is so important to wine style and quality? Or why American wines are so fruit-forward, while Italian wines taste lean and sharp? Or why so many of the famous grapes are originally French? Get the inside scoop on how the wine world works in this fascinating seminar and tasting with leading wine educator Marnie Old. The cost of this class is $ 65.00 per person. For further information, call the Astor Center at (212) 674-7501.
More About: Wine , Works , Secrets

Fan Fare
2008-05-27 00:03:00
If you're looking to stay cool and save on energy bills this summer, look up. A good ceiling fan, when properly used and maintained, can help keep your cooling and heating costs down throughout the year. To reap the maximum benefits - in comfort level and savings - it's important to make sure that ceiling fans are properly installed and that you use the right size and model for the room. Consider ceiling fan blade spans, which range from 29 to 54 inches, and room size, and be sure that the fan is mounted in the middle of the room, at least 7 feet above the floor and 18 inches from the walls. Other performance factors to consider include the motor type and grade (performance, medium or economy), and the blades' pitch and material. The fans with the best blade and motor designs are most efficient and quieter as well. Look for models with the highest air flow efficiency, which is measured by cubic feet per minute per watt (CF...
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Fan Fare
2008-05-27 00:03:00
If you're looking to stay cool and save on energy bills this summer, look up. A good ceiling fan, when properly used and maintained, can help keep your cooling and heating costs down throughout the year. To reap the maximum benefits - in comfort level and savings - it's important to make sure that ceiling fans are properly installed and that you use the right size and model for the room. Consider ceiling fan blade spans, which range from 29 to 54 inches, and room size, and be sure that the fan is mounted in the middle of the room, at least 7 feet above the floor and 18 inches from the walls. Other performance factors to consider include the motor type and grade (performance, medium or economy), and the blades' pitch and material. The fans with the best blade and motor designs are most efficient and quieter as well. Look for models with the highest air flow efficiency, which is measured by cubic feet per minute per watt (CF...
More About: Fare

"Is Time Always on Your Side?" - Seller loses in Court.
2008-05-26 23:54:00
This legal article provided as as public service by W. Adam Mandelbaum, Esquire, Attorney-at-Law who has his law practice at 10 Audrey Avenue, Oyster Bay, New York 11771. He can be reached at (516) 624-0240 or go to his website: http://justiceneversleeps.net. "Time , Time, Time Is On Your Side -- Or Is It? -- A provision of the contract required the sellers to deliver to the buyer a certificate of occupancy covering the building and all improvements thereto, including its finished basement. The day before the scheduled closing, the sellers, without having obtained a certificate of occupancy for the basement, purported to adjourn the closing. The buyer, claiming, inter alia, that the sellers had breached the contract, filed suit to recover his down payment. The appellate court held that, when the sellers sought to adjourn the "time of the essence" closing date which they themselves had set, their failure to perform constituted a material breach ...
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Part IV: To Chauffeur or not to Chauffeur
2008-05-26 22:10:00
Happy Memorial Day! The old saying "you never get a second chance to make a first impression" is especially true when you meet a potential new client. It is more than the tenor of your voice, how you dress, what type of car you drive, or how your office is decorated. Those things are important to various degrees depending on where you work and the type of real estate you practice; but what is the first thing that you do? Do you tell them about you and your company? Do you launch into a description of the property they called on? Or, do you ask them about what they want and what they need out of your relationship - that is what someone who wants to be the "trusted advisor" would choose. Asking the right questions and listening carefully to their answers is how you make a great first impression. If you are going to show a potential client that you are not the average agent, start with letting them know, that you first want to meet them at your o...
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Sacramento is 5th highest foreclosure metro for 1st quarter 2008
2008-05-26 21:59:00
I was reading an article from the Atlanta Business Journal (below) on a Atlanta Market Developer who took his own life. In the article they mentioned that the delinquent or past due loans is already worse than the S&L Crisis 20 years ago. http://atlanta.bizjournals.com/atla nta/stories/2008 /05/26/story1.html?f=et1 56&b=1211774400^1639564&ana=e_ver t Further research lead me to a RealtyTrac news release on the April Statistics for foreclosures. According to their nubmers released on May 15, 2008. 6 of California's Metro Areas are the worst in the nation. http://www.realtytrac.com/ContentManage ment/pressrelease.aspx?ChannelID=9&It emID=4586&accnt=6484 #1 Merced #2 Stockton #3 Modesto #4 Riverside-San Bernardino #6 Vallejo-Fairfield #8 Bakersfield Although Sacramento was not on the list, they were noted by RealtyTrac as being #5 in the 1st Quarter of 2008 to have the highest rate of foreclosure and defaults in the nation. I would also SPECULATE that Sacramen...
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Gotta Love NY's Legislature
2008-05-26 16:50:00
While Albany worried about cell phone coverage on the Adirondack Northway (I-87,) local residents were taxed out of their homes. Folks had to sell because of the lack of means to pay the continual increase in property taxes. Albany ensured warning signs were been placed on the north end of the park while the famous welcome sign still stands in Lake George. I can see why people flock north into Lake George. That Welcome sign is inviting. But, why would anyone from the North be happy to visit the park after looking at those awful looking, warning signs between Exits 35 & 34 on the southbound lanes? Instead of fixing the problem about New York's tax system, the legislature has found a new way to tax NY residents and companies such as Overstock.com and others are pulling out. Here is a notice from Amazon.com: Due to a new law recently passed by the State of New York we are required to collect NY sales taxes on taxable items sold by Amazon.com on or after June 1st, 2008. If ...
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Coon Rapids Tornado
2008-05-26 16:30:00
I just witnessed the tornado that went through Coon Rapids MN. I was in my back yard weed whipping and it was getting very dark and eerily calm. I stopped for a minute, looked straight up and saw a streak of green across the sky. I looked out at the southern horizon and saw clouds moving up towards the storm. My neighbor ws on his deck and asked if he just saw a tornado. He said yes, so my wife said to get in the house. My sister called from up North and asked if we were ok. We had no damage at the time and she thought we should check on my Mom's townhome. She was out of town for the weekend for a wedding. On the way over there we saw the path of the damage starting just south of 125th and heading East-southeast. My mom's house was fine. I knew my wife's friend Kathy lived near the path so we drove over to check out there home. Most every tree in their yard was down with a few on the home. Just then a 2nd wave came through dumping marble to dime...
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5/24/08 - Update for Fauquier County, including the towns of Warrenton, Mar
2008-05-26 16:01:00
Here are the listings that were added or changed on 5/24/08 LastUpdate Type ListPrice FullStreetAddress City ListingID Subdivision NEW $280,000 10800 BLAKE LN BEALETON FQ6770422 MEADOWBROOKE SEC E PARTY $246,900 10831 BLAKE LN BEALETON FQ6673590 MEADOWBROOKE SEC O NEW $1,500 10424 ST PAULS RD BEALETON FQ6770077 NONE OTHER $604,900 ...
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Markets Trumping Credit Scores
2008-05-26 15:43:00
In a Realty Times article today Blanche Evans points out that banks are "turning the clock back to 1975," when higher downpayments were required to purchase a home. This comes on the heels of FNMA's abandonment of their "declining markets" policy just ten days ago. So what's happening here? Fannie Mae and Freddie Mac can renounce any policy they want with regard to markets, but if the discussion is about downpayments of less than 20%, the private mortgage insurance companies are the ones making the rules. In fact, it seems that those companies are less concerned about creditworthiness of borrowers than about the local market. There is anecdotal evidence that people with superior credit scores (over 800) are still experiencing difficulties obtaining mortgages with less than 20% down. Those mortgage insurance companies are still smarting under some huge losses (real and anticipated), and want to remove all risk. Continuing risk avoidance on t...
More About: Credit , Markets , Scores

My House Is Worth What?
2008-05-26 14:41:00
A long awaited return of another episode with yours truly featured. Tune in on May 27th at 10 pm central standard time to catch the latest evaluation of a property owned YET by another real estate agent looking for a second opinion of his two flat in Andersonville. Do I bring him good news, or do I give him a reality check? Find out on Tuesday the 27th.
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Albuquerque, New Mexico Real Estate Market Trends
2008-05-26 11:17:00
Albuquerque, New Mexico Real Estate In our community, not unlike many others, we have seen transactions affected by recent higher loan-to-value ratio requirements resulting from falling and lower sales prices. Good News Beginning June 1, Fannie Mae and Freddie Mac will no longer require borrowers to provide an extra 5 percent down payment when purchasing homes in areas deemed "declining markets" because prices are falling. Thanks to the National Association of REALTORS® who protested the declining-markets policy, the giants of the secondary loan market agreed to abandon it. under the the new policy, borrowers can get loans up to 95 percent loan-to-value even in markets in which prices have been falling. Before the change, borrowers suddenly found they could only get loans up to 90 percent of the price of the property because lenders were requiring a 5-percentage-point cushion to protect against possible future price declines. Many ...
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Happy Trails...
2008-05-26 10:16:00
Dyersburg will become the newest chapter of the Tennessee Trails Association this fall. A meeting hosted by the Parks & Recreation Department and state TTA officials on May 20th drew a number of area hikers, runners, and outdoor enthusiasts. At the conclusion of the meeting, a decision to proceed with the formation of a Dyesrburg chapter was made and seconded. Joe Hayden offered to temporarily act as Chapter Chairperson, and is scheduling a followup meeting on June 10th. Joe can be contacted via email at joehayden@bellsouth.net . Information will also be available through the Dyersburg Activity Center at 731-288-2564. New members are welcome, and can join the chapter by contacting Joe, or visiting the Tennessee Trails Association website at www.TennesseeTrails.org . Presentations by Parks Director James Johnson, and Newbern Mayor Jim Stark pointed out that Dyersburg and Dyer County have a number of existing trails, some in the vicinity of the Mis...
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Redmond Condo Stats
2008-05-26 09:51:00
Condo Market - Redmond Washington Volume Changes: Sold 1/1/07 to 5/15/07 - 310 condos sold Sold 1/1/08 to 5/15/08 - 130 condos sold Volume down 30% (Much better than Bellevue or Kirkland or the County as a whole) Currently in escrow awaitng close 48 Currently for sale 156. By 2007 standards that would have been just over 4 months of inventory. By 2008 standards that is over 6.6 months of inventory. Median days on market has increased from 19 days to 56 days. Prices are down by 3.5% from $307 per square foot to $296 per squre foot (median) I expect to see median days on market getting better. The median price per square foot of properties for sale is more in line with what they are actually selling for than in Bellevue or Kirkland.
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How to get financing for more than 10 properties
2008-05-26 09:18:00
I will be writing a follow up to this as my investigation continues, but if anyone has info on financing greater than 10 SFR properties, please call or email. I have several clients needing a solution for this. Here is one program I have found: 3% origination, 7.99% adjusts to 12.99%, 75% LTV. (can loan to LLC, but the costs are right up there w/ hard money) Another will also do it for around 7%, but according to a collegue it is currently untested. I am tempted to gear them toward commercial real estate as a solution for their problem. Zack Souza, RE Broker and Lender
More About: Financing , Properties

Happy Birthday! to my youngest son, JESSE, 25 today!
2008-05-26 09:01:00
HAPPY BIRTHDAY JESSE!!! MY YOUNGEST SON TURNS 25 YRS YOUNG TODAY!! THANKS FOR BEING A REALLY GOOD KID THESE 25 LONG YRS, AND PICKING OUT THE PERFECT WIFE!!! (MARRIED LESS THAN 1 yr) LOVE YOU GUYS! -DAD
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Bellevue Condo Stats
2008-05-26 08:55:00
Condo Market - Bellevue Washington Volume Changes: Sold 1/1/07 to 5/15/07 - 367 condos sold Sold 1/1/08 to 5/15/08 - 148 condos sold Volume down 60% Currently in escrow awaitng close 117 Currently for sale 389. By 2007 standards that would have been just over 4.5 months of inventory. By 2008 standards that is 11.8 months of inventory. Median days on market has increased from 27 days to 45 days. Prices are down by 6% from $334 per square foot to $314 per squre foot (median) Of note, properties in escrow and those on market have asking prices that are WAY up to $400+ per square foot. Must be weighted more heavily to new construction.
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Kirkland Condo Stats
2008-05-26 08:43:00
Condo Market - Kirkland Washington Volume Changes: Sold 1/1/07 to 5/15/07 - 310 condos sold Sold 1/1/08 to 5/15/08 - 130 condos sold Volume down 58% Currently in escrow awaitng close 66 Currently for sale 329. By 2007 standards that would have been just over 4 months of inventory. By 2008 standards that is over 11 months of inventory. Median days on market has increased from 23 days to 56 days. Prices are down by 8% from $329 per square foot to $302 per squre foot (median)
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King County Condo Stats
2008-05-26 08:08:00
Condo Market - King County Washington Volume Changes: Sold 1/1/07 to 5/15/07 - 3,319 condos sold Sold 1/1/08 to 5/15/08 - 1,894 condos sold Volume down 43% Currently in escrow awaitng close 972 Currently for sale 3,953. By 2007 standards that would have been just over 5 months of inventory. By 2008 standards that is 9.4 months of inventory. Median days on market has increased from 25 days to 48 days. Prices are down by 2.5% from $296 per square foot to $289 per squre foot (median)
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Walleye Real Estate!!
2008-05-26 01:49:00
Walleye and Big Sandy Lake = Walleye Real Estate Big Sandy Lake is an Awesome fishing lake for Minnesota Walleye and I have a great listing that is priced to sell it is $365900 so if you are in the market for some Walleye Real Estate check this out before it is gone ......Summer is on its way. Go to www.BigSandyLake.com for more information on some real good Walleye Real Estate. Some Big Sandy Lake Walleye: