RealEstate.com's Town Square

Social Media Field Guide Review

Bru5W — Fri, 20 Nov 2009 19:22:00 GMT

Swanepoel Social Media Report 2010

Earlier this week, I picked up the Swanepoel Social Media Report 2010, written by Stefan Swanepoel and Mel Aclaro while I was at the National Association of REALTORS® meeting in San Diego.

As I've written so often this year, social media is becoming a very prominent tool for agents to use in their marketing plans, yet there is a lot of confusion on the benefits, applications and definitions of these burgeoning medium.

I read the book with great interest as the subtitle is "A Field Guide For Real Estate Professionals." I was excited to see that someone had taken the time to write a book on the topic dedicated to our industry.

The authors divide the book into six primary chapters:

1. What is Social Media?
2. Where To Start
3. Best Sites and Tools
4. Monitoring the conversation
5. Tying it all Together
6. 10 Action Day Plan

The book is logically structured, starting from an overview to an expansion into the most common social media sites and tools. The authors then go into more depth on the four most prevalent sites: Facebook, LinkedIn, Twitter and YouTube.

The book could have benefited from a stronger editor. Typos, grammatical errors and inconsistencies are widespread through the pages (the above chapter list has been provided verbatim) and in some instances, references are not cited. This is disappointing because at a cover price of $79.95 and a total page count of 107 (really 90 pages of content since the first chapter begins on page 15 and the last page before the About The Authors is 104) I expected a more polished publication.

But as is so often said, content is king, so when we get beneath the surface, how is it? It is actually quite good as a high-level overview for social media. The authors have been thorough without going into so much depth that it is too complex or confusing.

And I truly appreciate the very simple, yet always overlooked question that every REALTOR® needs to ask themselves: What do I want to accomplish with Social Media? Understanding intent will aid the reader in identifying the best sites and tools to use to accomplish their goals.

But let's be clear, this is not a "How To" manual. While the information is very good from a high level, the authors don't get into strong tactical uses of the tools they list. There is an action plan, but the steps are very basic:

- Post your first blog entry.
- Create a Facebook account.
- Repeat your Twitter activities.
- Re-read Chapter x.x

I don't think detailed tactics are needed, at least not in this publication, but the action plan did feel rather thin but for a novice it may be perfect. Someone with a working knowledge, though, may feel shortchanged.

Swanepoel and Aclaro have created an excellent primer for REALTORS® unfamiliar with the world of social media. The book is easy to understand and follow and the content is important for real estate professionals to learn about. Editing issues and cost are the biggest challenges here, but overall, a very worthwhile read and a book that easily can be used and kept open next to the keyboard for constant reference.

Thoughts on The National Association of REALTORS Convention...

Jason Lopez — Mon, 16 Nov 2009 19:29:00 GMT

So what was the big buzz at this year’s convention? Without question it was the talk surrounding RPR, or REALTORS Property Resource. The REALTORS Property Resource™ (RPR™), is a parcel-centric information database covering more than 147 million property parcels in the country. This database is designed to be a resource for NAR members and will create single source access to data which will add value to the information available for members to use with their clients and customers.

This initiative will provide access to a national database of real property information and will give real estate professionals the best access to property needed to serve their clients and customers. It will include in-depth, trusted information on every parcel of real property including public record information, details of prior transactions, MLS-provided information, zoning information, transfer tax information, and other relevant information. The initiative will be based on the collaborative efforts of REALTORS® and the real estate community, including MLSs. It will drive development and implementation of data standards and definitions, and will increase the breadth, depth, immediacy and power of real estate information available to REALTORS®.

Sounds good right? So what is all the fuss about? According to Brian Boero on his 1000Watt Blog, “The RPR is impressive with enough data to choke a horse and a user interface that is very well done. Foreclosure data, default stats, interactive charts, and even sliders for users to adjust the market conditions as they see them. On top of that, there is a basic community/social function. It’s extremely robust, perhaps to a fault.” So again, why all the fuss? In a nutshell what the NAR has done is position itself to go head to head with dozens of local MLS’s that already have contracts with service vendors to provide this type of data at the hyper-local level. This is shaping up to some real estate professionals a “Civil War” of epic proportion!

On one side there seems to be a need for this type of information and it could be seen as a welcome opportunity to streamline data and make it simple for real estate professionals to access the same information all from one source. On the other side it’s not hard to see that MLS’s feel like they will be cut out of the picture. Which brings up an interesting point, just what roll does the MLS play, not only in this tale, but in the overall big picture? Another session I attended on, “The Future of the MLS” seems to tell the story of changing times with talk that the MLS should exclude offers of shared compensation between brokers, be a free service for core information and offer additional “marketing” applications for a fee.

So the questions are, “What is the value of this type of data? Who owns the data? And should MLS’s be offering up anything other than what they were initially designed to do?” Clearly we have seen a move by MLS’s toward a deeper offering of service and product. In addition to the property search and agreement to share commissions, many MLS’s are now including things like transaction management platforms, market analysis tools, valuation tools, and even marketing applications. But it remains to be seen if real estate agents and brokers will embrace these offerings or opt to provide their own. And in the NAR is going to play in the same sandbox, is it better for us to play with them?

Homebuyer Tax Credit Extended

Bru5W — Thu, 05 Nov 2009 15:51:00 GMT

November 5, 2009--It may be an early Holiday for some. Last night, the Senate unanimously passed a bill aiding the unemployed as well as to struggling businesses and prospective homebuyers. Most of the attention for this bill will center on the extension of unemployment benefits by up to 20 weeks to the millions who are running out of unemployment insurance benefits.

A 98 to 0 vote also extended the first-time homebuyer credit that was set to expire at the end of November by an additional seven months. Also part of this was a provision to include move-up buyers who have lived in their current residence for five years. The tax credit for move-ups is $6,500.

"The data on the present home buyer tax credit show that the credit has had its intended impact -- sales have jumped in recent months to a projected 5.1 million for the year and housing inventory has been trimmed, thus stabilizing home prices noticeably," said Ron Phipps, the association's first vice president, in Senate testimony last month.

This could be a great opportunity to get people off the fence. Is $8,000 or $6,500 enough to be a prod for those not thinking about buying? I don't think so. But for those individuals that had been thinking about it, or were waiting for the economy to stabilize, this could be just the program to get them to commit to buying instead of sitting out and waiting.

November 6-UPDATE: Today, President Obama signed the bill.

What do you think? Is the incentive enough? Too much? Too long?

Make A Realistic Offer On A Foreclosure Property

RE.com Tips & Tools — Wed, 04 Nov 2009 16:25:00 GMT

EDITOR'S NOTE: With foreclosure properties still dominating the housing landscape in the U.S., we've asked our friends at RealtyTrac® to guest author some articles to shed light on the foreclosure crisis. RealtyTrac is the most trusted source of foreclosure information in the country. We hope that the information provided here and in other articles will be beneficial to understanding, avoiding and even leveraging (as an opportunistic buyer) home foreclosures.

By Rick Sharga, Vice President of Marketing for RealtyTrac

It’s no wonder that the foreclosures market is gaining popularity among first-time buyers and real estate bargain hunters alike. Foreclosure properties can often be purchased at 10 to 30 percent less than their market value, making them an attractive investment in a time of soaring real estate prices. But despite what you may see on late-night cable TV, investing in foreclosure properties isn’t a sure fire "get rich quick" formula. Lenders aren’t likely to give properties away, particularly in a real estate market where prices continue to rise. And homeowners in financial distress still have some leverage to negotiate the purchase price, particularly early in the foreclosure process.

"You have to practice both diligence and patience when looking to buy a foreclosure property," explains Jim Saccacio, chief executive officer for RealtyTrac. "There really are some fantastic deals out there, but you have to be willing to wait for the right opportunity, then make a realistic offer so the seller will view you as a serious buyer."

With interest rates ticking upward, experts predict an increase in the number of foreclosure properties on the market. Web-based services such as RealtyTrac, give consumers access to foreclosure and pre-foreclosure information that was previously available only to professional real estate brokers and investors. Today, homebuyers can use these services to identify and research potential home purchases, as well as to find the tools and professional resources they need to help them close the deal. Sales in this marketplace can move rather quickly, so there’s no time to make uninformed or low-ball bids on properties in a half-hearted attempt to save a few bucks. Nothing turns a seller off faster than a low-ball offer on a fairly-priced property. In most cases, doing so may irritate the seller so much that no further negotiations will be entertained, meaning that you’ve essentially lost any opportunity to buy the property. Conversely, making an uninformed offer that is too high may get you the house you want – along with a never-ending monthly reminder that you overpaid!

Find out what the house is really worth
In order to make a realistic offer, you first need to know what the actual value of the property is. Look at the original purchase price and recent comparable property sales to determine the current value of the property. You can obtain information on recent sales in the area from your realtor or via RealtyTrac’s Comparable Sales Report. Ideally, you should look at sales in the area over the past six months. Then you can drive by each property on your list and note its condition, size, appeal and location. You should also look for properties that are currently listed for sale in the area and research the same information for them. This information, along with a thorough examination of the condition of the property, should give you good feel for what it is really worth.

Find out how much is owed
You should also find out the amount the seller is in default and the remaining loan balance. In order to determine a reasonable offer price, you’ll need to know – at a minimum – how much money it will take just to satisfy the debt to the lender (or lenders). Knowing this will help you determine whether the property is within your price range or unattainable considering your current finances.

The estimated loan amount and default amount are included in the foreclosure documents filed with public records, and RealtyTrac posts this information online for subscribers. Additionally you can order RealtyTrac’s Legal and Vesting Report or Transaction History Report to check for any other mortgage loans on the property. Ultimately, even if you’ve presented what you believe to be a fair offer, you’re likely to receive a counter offer from the seller. That’s to be expected as the negotiation process is a major part of real estate sales in general – even foreclosures. Remember, a successful negotiator in any situation must be informed, prepared and realistic. Again, you must practice patience and diligence in order to get the property you want for a price you are willing to pay.

Lastly, it’s important to remember that real estate purchases can be rather emotional, especially as you grow attached to the idea of owning a particular property. It’s important to know what you are willing to spend on a home, regardless of your emotional attachment to it, so you need to set a limit and stick to it.

I read it online so it must be true...Or what the Talking Heads want you to believe...

Jason Lopez — Wed, 04 Nov 2009 15:43:00 GMT

Let me start by saying the views expressed in this blog are mine alone and in no way reflects the beliefs or opinions of my company or any others. The two quotes I mention below are just two of several I have seen recently that offer a similar opinion on the tax credits and their effect on the real estate market. Let me also say that my view may be skewed a bit as well, due to the fact that much of the work we do is representing first time buyers. This post is a reflection of what I experience daily and what our clients tell us.

In my previous post I pointed out some good news on the real estate front, among them the first time home buyer tax credit extension and expansion. A few recent quotes around this issue include, “I am not applying the recent home-price rebound to the tax credit,” said Cameron Findlay, chief economist at LendingTree, in a recent interview. “I don’t think the tax credit makes as big an impact as people make it out to be, although it certainly motivates first-time buyers,” he said. “If it expires, I don’t think it would shake the housing market as much as some have predicted.” And in a recent interview, Fox-Pitt Kelton analyst Robert Stevenson said the Senate’s proposal for extending the $8,000 tax credit for new homebuyers will have a “limited impact” on home sales. Ok, so what do these analysts attribute to the fact that for 8 consecutive months (according to the National Association of REALTORS) housing sales have spiked? If not the tax credit, then what is it? Look, I know this is not all we need to continue the recovery, but from the perspective of someone on the street these measures absolutely make an impact! Here's what NAR has to say:

Pending home sales rose again, marking eight consecutive monthly gains – the longest streak since measurement began in 2001, according to the National Association of Realtors®. Lawrence Yun, NAR chief economist, said the momentum is understandable. “What we’re witnessing is a rush of first-time buyers trying to beat the expiration of the tax credit at the end of this month,” he said. “Home values will stabilize sooner rather than over-correcting. That, in turn, will mean wealth stabilization for the vast number of middle-class families and lay the foundation for a durable economic recovery.”

We can argue the merits of tax credits all day, but the reality is 40% of first time buyers have said they only bought a home because of the credit! 40%! If that does not say it all then what does? Our recent experience tells me that with the looming deadline of the first time buyer tax credit has caused buyers to stop their search as they now understand they could not beat the deadline. By extending it we will see a spike in activity as these buyers get back in the game and drive volume into 2010. The proposed extension that will include a $6500 credit for move up buyers will also have an impact. By including language that the move up buyer has had to have owned the home for at least 5 years, that effectively limits the number of potential buyers...and sellers...that are upside down. Don't overlook what I said...sellers! This credit will help drive fresh inventory that we desperately need to the market and create not one but two transaction sides. This was a bold move by Congress...and a smart one. I have blogged about this in the past, we have huge need for new inventory. Most homes have multiple offers or are in the long process of getting short sale approval from the banks, so it has limited what buyers can select from. Add in that more cash buyers are flooding the market and it makes it even more difficult for FHA and VA buyers to get offers accepted. This is the reality of the market and varies drastically from what is reported. You want the straight truth? Talk to a busy REALTOR who is out in the trenches all day.

“I am not applying the recent home-price rebound to the tax credit,” said Cameron Findlay, chief economist at LendingTree, in a recent interview. “I don’t think the tax credit makes as big an impact as people make it out to be, although it certainly motivates first-time buyers,” he said. “If it expires, I don’t think it would shake the housing market as much as some have predicted.”

Read more: http://rismedia.com/2009-11-03/what-impact-will-homebuyer-tax-credit-extension-have-on-housing-industry/#more-41552#ixzz0VuFEbIhu

Do Your Homework Before Buying A Foreclosure Property

RE.com Tips & Tools — Tue, 03 Nov 2009 16:18:00 GMT

By Rick Sharga, Vice President of Marketing for RealtyTrac

There are two words that give pause to the most motivated foreclosure buyer: due diligence.

Those words mean researching all the risks involved in a property purchase, which in the past meant extensive legwork and expense. But that’s no longer the case, thanks to exponential advances in information technology and the establishment of Web-based property data aggregators like RealtyTrac.

Don’t be fooled – buying a foreclosure property doesn’t equate to easy money by any means. A savvy player in this market is willing to do a bit of homework. But the tools and resources needed to do that homework are much more accessible now than ever before.

"While buying a foreclosure property is certainly not without risk, the right examination and due diligence on the part of buyers can significantly improve their ability to make a strong investment," explains James J. Saccacio, chief executive officer at RealtyTrac, the leading online foreclosure marketplace.

Web-based services like RealtyTrac can help investors and homebuyers tap into the previously hidden foreclosure market by providing access to property data formerly available only to professional real estate brokers and investors. Today, homebuyers can use these services to identify and research potential home purchases, as well as to find the tools and professional resources they need to help them close the deal.

It makes sense to give any foreclosure property under consideration a thorough examination – possibly even more thorough than for a traditional real estate property. There are three stages of foreclosure that require different research strategies: pre-foreclosure, auction and bank owned.

Before buying a pre-foreclosure property directly from the owner, run a preliminary title check for all debts secured by the property. You can research the title online using RealtyTrac’s Legal and Vesting Report or Transaction History Report. Subtract the total amount owed from the estimated market value to determine the potential bargain. After making contact with the owner, arrange a walk-through of the property to evaluate its condition. Factor estimated repair costs into your purchase offer. Before you close the deal, hire a professional home inspector to inspect the property and enlist a title company to run a final title check.

In most states, you don’t have a chance to inspect a property before buying at a public auction, which makes this type of purchase more risky. But if you’ve researched the title and determined the amount owed is far less than the market value, you’ll have some margin to cover unexpected repair costs. Before you go to the auction, set a maximum bid based on your research and stick to that bid at the auction.

Although you’ll be able to inspect the property if it’s bank owned, the bank typically knows little about the property and will sell it in “as is” condition. This means the bank will disclose all the needed repairs it knows about, but is not held responsible after the sale for any repairs it did not know about. Factor the known repairs into your purchase offer and have a professional inspection conducted before closing the deal. You should also have a title company run a final title check before closing, although most banks will make sure the title is clear before selling.

Here are eight steps for doing a professional-level property examination for all stages of foreclosure:

Identify desirable neighborhoods – Find specific neighborhoods where you would like to live or own a home. This will limit the search to a manageable size for you and your agent, and give you a sense of relative property values.

Cast a wide net – There are a number of Web-based services like RealtyTrac that can put hundreds of thousands of foreclosure properties at your fingertips. But remember, the best savings are often found in pre-foreclosure properties; therefore, it’s important to check the percentage of pre-foreclosure (vs. REO) properties in any database before subscribing.

Determine the property value – Look at the original purchase price and recent comparable property sales to determine the current value of the property. You can obtain information on recent sales in the area via Multiple Listing Service (MLS) comps from your realtor or by ordering a report such as RealtyTrac’s Comparable Sales Report. Ideally, you should look at comparables sales in the area over the past six months. Then you can drive by each property on the list of comparables and note its condition, size, appeal and location. You should also look for properties that are currently listed for sale in the area and research the same information for them. From this information, you can get a good idea of what the property you are interested in is worth.

Find out the amount in default and the remaining loan balance – In order to determine a reasonable offer price, you’ll need to know – at a minimum – how much money it will take just to satisfy the debt to the lender. This information is available on the foreclosure documents filed by the foreclosing lender and from online foreclosure-tracking websites like RealtyTrac.

Check for other liens – Before purchasing any foreclosure property, make sure it is free and clear of any bankruptcies, tax liens or other financial liabilities. A title search will examine records used to determine the legal ownership of the property and all liens and encumbrances on it. A title company or attorney can run a title search for you. You can also research the title online using RealtyTrac’s Legal and Vesting Report or Transaction History Report.

Assess the condition of the property – In addition to visiting the property yourself, hire a professional inspector to inspect the property to make sure that the property is in acceptable condition, or to determine how much of a rehab budget you’ll need to build into your deal. If you buy during pre-foreclosure or directly from the bank (REO), it’s usually possible to conduct a thorough inspection. But if you buy at the public auction, it may not be possible to view or inspect the property beforehand.

Build a positive relationship with the seller – Before purchasing a property, try to make sure that you’re entering into a win-win situation with the seller, so that they’ll be more willing to do what they can to make the process easy and leave the property in good condition for you.

Leverage your timing – Knowing when a property is going to be auctioned gives you an extra bargaining chip when negotiating with a seller or a lender. You can sometimes contact the seller just before the auction to see if a last-minute sale is possible. At the very least, knowing the intended date can help you organize time to research the property as much as possible, review comparable sales, calculate values and potential profits and ultimately determine a bid price so that you’re well prepared to compete with other investors on auction day.

It’s sometimes said that in real estate, selling is about business while buying is controlled by emotion. While this may generally be true, it’s important to keep your head about you and think through the process so that you can make the most informed decision possible. Remember, a little preparation before the sale can help you reap huge benefits. So, it’s worth your time and energy to do a little homework!

Tips for First Time Movers

RE.com Tips & Tools — Tue, 03 Nov 2009 14:48:00 GMT

By Gina Cappiello www.123Movers.com

Your first move is going to be a big deal. It will be the defining moment of your adulthood and the ultimate declaration of your independence to the world. Although it is an exciting occasion, it is probably going to be one of the most stressful, insane, and chaotic days of your life. Fear not! Here are some tips to point you in the right direction and help you keep your cool during your first moving experience:

Don’t be stubborn!
There is absolutely nothing wrong with asking for assistance. Family and great friends want to help you any way they can, so don’t be too proud to ask them for it. They will be flattered and more than willing to assist you for your first move and many more. No family or friends around to help? Schedule your move with a moving company and they can help you ever step of the way from planning to packing and reassembling furniture.

Don’t stress!
It is completely normal (and easy) to lose your mind during your move with everybody running around with your belongings. Take a step back from the situation and sit somewhere alone for a few minutes to gain some perspective on the situation. Remember that this is just one day of your life. Once it is over, you probably will not have to move for a good amount of time. Close your eyes, breathe deeply, and remind yourself that you can and will get through this.

Don’t starve!
With the chaos of moving day and anxious feelings about your new home, it is easy to forget to eat. Make sure to start off the day with a healthy (but not heavy) breakfast to get you energized for your move. Try to schedule at least a half hour lunch for yourself and your movers to ensure you are all running on a full tank of fuel instead of adrenaline and caffeine. Also, don’t forget to stay hydrated. Keep numerous bottles of water handy and be sure to drink plenty of them while you sweat and pack away.

Asking for help, staying calm, and keeping your body energized with healthy foods and water will definitely help make your first move the very best one. Good luck!

What is the "Good News in Real Estate?"

Jason Lopez — Mon, 02 Nov 2009 19:20:00 GMT

To say it's been a tough few years in real estate would be a huge understatement. However in every market there is opportunity to be found and believe it or not people make money in every real estate market. As an example, real estate brokers that handle foreclosure property are experiencing the best years of their careers. Same with brokers that handle short sales. Now, it's a lot more work and it's tough, but nonetheless they are busy. While thinking about these types of things I started to wonder, "What is the good news in real estate?" Here's what I came up with.

Conforming loan limits extended through 2010. The California Association of REALTORS noted the U.S. Congress late yesterday passed a congressional resolution extending through 2010 the current conforming loan limits of $417,000 for most areas in the U.S. and $729,750 for high-cost areas, including many in California. President Obama is expected to sign the resolution today or tomorrow as part of a broader piece of budgetary legislation that will prevent a government shutdown. "There is no doubt that higher loan limits and the federal tax credit for first-time home buyers have helped stabilize California's housing market over the last year," said C.A.R. President James Liptak. "C.A.R. applauds our congressional representatives for their actions to extend the higher loan limits through 2010. They now should focus on making higher loan limits permanent."

C.A.R. calls for extension of federal tax credit. The proposed extension AND expansion of this tax credit includes language that extends the closing deadline for first time buyers from November 30, 2009 to June 30th 2010. A buyer must be under contract by April 30th 2010 and close by June 30, 2010. The new bill also includes a tax credit of up to $6500 for move up buyers that have been in their homes for at least 5 consecutive years over the past 8 years. According to The California Asscociation of REALTORS, nearly 40 percent of first-time buyers said they would not have purchased a home if the federal tax credit for first-time home buyers was not offered. This underscores the significance of the federal tax credit to the housing market's recovery in California.

September sales rise...Median price declines. The California Association of REALTORS reported that September sales were up 2.1 percent to a seasonally adjusted rate of 530,520 units on an annualized basis. The Unsold Inventory Index fell to 4.2 months in September, compared with 6.5 months in September 2008. The index estimates how long it would take to sell off the existing inventory. Fewer listings typically equates to more sales happening faster. The median price of an existing, single-family detached home in California during September 2009 was $296,090, a 7.3 percent decrease from the revised $319,310 median for September 2008, C.A.R. reported. The September 2009 median price rose 1.1 percent compared with August's $292,960 median price.

Economy up, interest rates down. In a recent statement, the Federal Reserve said that financial markets have improved, home sales have increased, household spending seems to be stabilizing and businesses have continued to make progress toward aligning inventory levels with sales. The Fed also said it will keep the benchmark federal funds rate at just zero to 0.25 percent and continue other policies that have helped to support mortgage lending and home sales. "Economic conditions are likely to warrant exceptionally low levels of the federal funds rate for an extended period," the Fed said. A recent loan quote on LendingTree.com listed a 30 year fixed FHA loan of $272,500 at an interest rate of 4.88%, an APR of 5.19%, and a monthly payment of $1556. Good news for borrowers looking at historic rates and terms!

3 Moving Secrets

RE.com Tips & Tools — Thu, 29 Oct 2009 15:41:00 GMT

By Gina Cappiello www.123Movers.com

Pssst! Want to get in on some clever tips to help make your move a little easier? Read on to get the 411:

Pack an Overnight Bag
Treat your move as if you are spending the night at your friend’s house. Pack the essentials for a night away along with a set of moving clothes. This will save you tons of time and effort on moving day. Instead of searching through your boxes for a change of clothes during or after your move, just take a look through your backpack to find everything you need. You can also pack a couple of bottles of water and dry snacks to have on hand in case you get dehydrated or a little hungry while moving.

Bring Entertainment
On the first night in a new home, things can be pretty quiet and boring without cable, video games, and the Internet hooked up. Bring a small AM/FM radio, boombox, or MP3 player docking station (with your fully charged MP3 player) so you can listen to news, music, or talk radio while you relax in your new home. You can even play board games, cards, read, or do a few puzzles during your first night to pass the time. Chances are you will be way too exhausted to even want to do anything, but it is great to have some entertainment handy just in case you can’t sleep.

Cheat!
Who says moving has to be done in one day?! Save time by “cheating” a little! If you can, start bringing items to your new home as soon as it is available and empty. This is a great way to start getting set up with your new home, get an idea of where everything can go, and figure out what else you may need for your new home. It is also a nice way to help your moving company out a little bit on the actual day of your move.

Got all that? Good! Now go share these moving secrets with everyone so they can have an easier move.

Town Square Guidelines

Bru5W — Fri, 16 Oct 2009 15:12:00 GMT

Town Square is a real estate community of real estate professionals and consumers with an active interest in all things real estate. Made up of blogs, wikis, forums, groups and other social tools, Town Square is continuing to grow and evolve with the community it supports.

Growth often means there are opportunities both good and bad for the individuals participating within the community. These guidelines were created with the intent of assisting those who want to be an active voice within the community and ensuring the integrity of the community and RealEstate.com.

Any posted content should be personal opinion, perspective, suggestions, guidance or communication with the intent of being useful and/or informative for consumers and other members of the real estate community.

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· If you are a licensed real estate professional, you are bound by the code of ethics as created by the National Association of REALTORS®. You can find the code here.

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· Linking to relevant content, supporting links for a view point, or citing a source is strongly encouraged. Excessive linking and tagging to personal websites with the intent of manipulating search engine results will not be tolerated and may result in suspension or deletion of a users account.

The administrators of Town Square will review any content that is reported as abuse and will react and respond appropriately. If you encounter anything you believe is abuse or is abusive, we strongly encourage you to report it.

If you are interested in blogging, please submit an e-mail request to social@realestate.com. You must be a registered member of Town Square.

It's Like Pulling Teeth

Bru5W — Fri, 09 Oct 2009 19:35:00 GMT

I have a startling admission to make...I don't like going to the dentist. I've never liked it. Not since they strapped your head in place and giant rotating cameras took pictures of your head. Not since you had to chew the tablets that tasted horrible and spit them out to show all the plaque and gunk you missed when you didn't brush properly. Not since the molds you had to hold in your mouth that tasted terrible and made you gag. And not since the door knobs were placed at a five foot level so kids couldn't bolt out the door screaming with their napkin alligator-clipped around their neck flying behind them like a deranged super hero.

Nope. I've never liked going to the dentist.

Don't get me wrong. I really like my dentist. He is a little older than me and has what appears to be a very nice family as the pictures all over his office attest. Nice white shirts. Nice white teeth.

But I realized it's not the man I dislike. In fact, when I think back to all the dentists and orthodontists I've had in my life (five) they've all been incredibly likeable people. My children even see the dentist I last saw as a child before I "graduated" to adult care.

What I really dislike is the experience of going to the dentist.

So I started thinking about dentistry and real estate and the common similarities and broke them down into three common areas: The Person, The Service and The Experience.

The Person

I bet you like your dentist too. In fact, I'll bet your dentist is the primary reason you go back to the same person. Real estate is much the same in that most people genuinely like the agent they work with. My dentist always is smiling and remembers to ask about my family. He knows who my wife is and my kids names. He makes small talk with ease and builds great rapport. If I weren't (mentally) strapped in his chair with an interrogation light glaring on me and him wearing a mask with sharp objects in his hands, I'd enjoy hanging out with him.

I bet your customers like you too. Honestly, do you think any of them would speak poorly of you as a person? As a REALTOR®, you are committed to your customers and have their best interests in mind with every action you take on their behalf. You fight for them. You are their ally. And by the end of the process, many of them even come to look at you as their friend.

The Service

I think about this as what you are paid to do and your competency level. I am reasonably certain my dentist is competent. His diplomas and certifications are prominently displayed. He has pictures of local celebrities and letters of thanks on his wall. Much of his staff has remained unchanged through the years so they must think he's competent. He tries to stay up to date on the latest technology and enjoys telling me about all the fancy equipment and tools he has to help his clients have the smile of their dreams.

I'll bet you have letters of thanks from happy clients. You are licensed and may even have that license hanging somewhere for display. You've tried to stay up to date with all of the new technologies that have been flying around and tried to harness them to help your clients too. You review the contracts. You do the continuing education and there is no question you earn your money.

The Experience

This is where my dentist falters. I suspect this is where many falter. I'm not sure there's much that can be done but if my dentist weren't a great guy and gave great service, there is no way I would ever sit in a dental chair again.

My experience starts the same--in a dimly lit waiting area with magazines left over from the Bush era (the first Bush) and a fish tank filled, ironically, with small frantically swimming animals without teeth. I'm supposedly in a calming area to help ease my anxieties for the coming experience.

I'm led to a private room where I sit in the interrogation chair. I'm asked a series of questions by a dental hygienist before she reclines the chair and the sensory explosion begins. The dentist visit truly is something all the senses are affected (accosted?) by.

My mouth is opened wide and the first of the sharp pointy things are stuck in there. They begin to probe, to pick and to find any lurking piece of debris that was left there from my half hearted effort at flossing that morning. The judging eyes of the hygienist indicate their displeasure as the floss comes out and hands descend into my mouth, stretching jaws and lips past their comfort zone.

If I'm lucky, my gums will only bleed for a few minutes. I'm not known for being a very lucky guy.

The cleaning begins soon after and the same tool used for drilling teeth is used to clean them. Just a quick change of the tool head and Voila! we're cleaning instead of drilling. Only problem is the high pitched scream of the rotor that begins to make my toes curls before the device is plunged down to my molars.

Because it's a rotating instrument, covered in some fluoride/spackling paste, if the hygienist doesn't apply proper pressure, it can rotate off my tooth and into my gum like a spinning car waxer causing a new eruption that would make any vampire's stomach growl.

Once she has completed her torment, I get about ten minutes to work the cramps out of my jaw before the big man comes in, pats me on the shoulder and then starts in with HIS sharp pointy objects. My gums get a jump start and go ahead and begin to bleed. They figure it's coming so may as well get going now.

The hygienist is looking over his shoulder and they're talking in some middle-earth dialect of "occlusions" and "buckles" that are obviously not very complimentary. Lots of writing. The curb appeal of my mouth is being judged and I always feel like I'm the bad guy in the whole process.

Then the verdict comes in...I either pass or need to come in for more work. More judgment. More pain.

I make my next appointment and given a small goodie bag full of information about flossing techniques, tooth decay and some tchotchkes including a tooth brush with his name on it, so I won't forget him. Really?

I hate the experience. It hurts. It sounds horrible with drills and the gurgles and suction. It smells horrible from the fluoride to the (God forbid) smell of drilled teeth. I'm blinded by the light of the lamp and hate looking up at people in masks. It feels terrible with hands and drills and picks making their way through my mouth like Indiana Jones on a quest for the holy plaque.

The only good part of the experience is the smoothness of just cleaned teeth.

So when I think of real estate, it's not an experience I look upon with fondness either nor do I think most buyers or sellers. As a home owner, the judging eyes of the REALTOR® is looking over my home and telling me what I should do to make it better. Remove these pictures. Declutter. Paint. Floss. Well, maybe not floss, but definitely clean between the cracks and crevices.

The curb appeal is judged and a reasonable market price is determined. Usually, much lower than the buyer hopes or wants.

Buyers are told to get pre-qualified. Fill these forms out. Make sure you can actually buy something. More judging on what can and can't be afforded.

Lots of waiting (without the fish tank) or riding around in cars. Lots of comparisons. Lots of negotiations. Lots of things I don't understand, but I want to just get through the experience.

More things need to be fixed in my house or maybe the house I want. Inspectors come in. My schedule gets wrecked because maybe I have to meet a repairman or deal with pre-closing papers.

The closing table hurts. My hand aches from everything I have to sign. I don't understand most of it a trust my agent has read through everything and will warn me about anything I should know, because I don't. I'm uneasy. I'm uncertain.

Moving is unpleasant as I have to pack and unpack. I live in boxes. I have to paint. Hang curtains. Make the house mine.

Hopefully, at the end of it, I either get keys or a check. That should be enough. Right?

The thing about the real estate experience is rarely about how good it was, it is more about how smooth it was. For me, I know there is going to be pain in both the dentist and real estate experiences. I know it is going to be uncomfortable. I know I'm not going to like it. But if I've got a good dentist/REALTOR® and I know I'm going to get good service, then I'm willing to go through the experience.

Maybe, the experience won't be too bad. Maybe there will be a new technique, a new loan product, a new something that will make it much better. Shouldn't it be better?

What are you doing to make the experience better for your clients? How do you make it less painful? Is it possible to make it, *gasp*, enjoyable?

As promised...The Many Hats We Wear in real Estate...

Jason Lopez — Tue, 06 Oct 2009 22:00:00 GMT

As real estate professionals we know very well that we wear a lot of hats. The average real estate customer sees it as, "Sheesh...all you do is put up a sign and wait for a buyer!" They don't see the marketing hat, or the showing hat, or the qualifying hat we all have to put on just to get a buyer through the door! I have often said you could train a monkey to stick a sign in a yard with a toll free number on it, a buyer can call it and say, "I'll take it!" But the monkey could not handle the details of closing that deal.

So you have the buyer on the hook and it's time to change hats...you are now...The Negotiator! So Capone may not be the best example, but let's be honest...in this market you need leverage! Heck, you may have to get downright heavy handed to even get a return phone call. The fine art of negotiation has changed in this environment and you may find yourself getting down and dirty just to get the right person on the phone. The point is you have to, "Go to the mattresses" to put your client's offer in the best position to win the deal!

At this point in the game it may come down to the fine art of seduction. If the heavy handed approach is not working we need to try a little finesse. You know, smooth things over, make some small talk, a little wink of the eye may go a long way. Hey, we work on commission and I gotta do what I gotta do!

At times we may be confused as to just exactly what hat we should be wearing. So we might have to try them all on at once and see what fits. Am I the therapist, the babysitter, the mother? We may be all of them at once. Look, we know buyers get cold feet and we have to help them understand the next step. So our job is to smooth things over, help them understand the big picture. Everyone has doubts so we need to reassure them and maybe even coddle them a bit. Hey, if the hat fits wear it!

Now we are talking! This is a hat I love to put on. It's all about the fun we get to have as we get to know our new client and maybe even become friends. And that is one of the great benefits of real estate...we work with people and get to enjoy some great times and adventures with them. It may not quite be like this: Elwood: It's 106 miles to Chicago, we got a full tank of gas, half a pack of cigarettes, it's dark, and we're wearing sunglasses. Jake: Hit it. But we can certainly enjoy the ride!

Which brings me to the Stingy Brim. My favorite hat of all. Why? Well it let's me be me and just have fun and celebrate the small things in life. Like meeting a new client, or enjoying my sons soccer game, or signing a nice commission check for an agent that just closed a big deal. For more on that you can check out my video blog on The Many Hats We Wear here: http://www.twitvid.com/ACCD4

Working with a Mover

RE.com Tips & Tools — Wed, 30 Sep 2009 13:20:00 GMT

By Gina Cappiello www.123Movers.com

When working with any moving company, you have to remember that communicating effectively is vital to a successful move. Here are some simple ways to communicate effectively with your movers:

Be clear
Write down every single item you will be moving and put asterisks by all of your items that are heavy, fragile, or important. Invite moving companies over to your home for an in-person estimate so they can see what needs to be moved. Explain to them what you need moved and how you want everything moved. This will guarantee that the movers will know exactly what needs to be taken care of for your move so they can prepare and quote you accordingly.

Listen up!
Respect your movers’ thoughts and opinions throughout the moving process. They only want what is best for you and your possessions. If they recommend that you pack your fragile items a certain way, hear them out and give it a go. Chances are their way is the best way.

Stay in touch
Check in with your movers once or twice before you move to be sure you are all on the same page. You’re not being a pest, you’re being proactive. Your movers will not only appreciate your concern, but will be the first ones to reassure you that everything will be fine.

Be respectful
The most important thing to be is respectful. Your movers may be working for you, but that does not mean you can treat them poorly. A little kindness (like providing cold beverages and snacks for your moving guys) will go a long way.

Working with a moving company does not have to be a complete nightmare. Be clear about your needs, listen, keep in touch, and be kind to your movers to guarantee a great working relationship and move.

New rules for higher-cost loans to take effect Thursday...

Jason Lopez — Tue, 29 Sep 2009 21:06:00 GMT

New rules targeted primarily at mortgage lenders making higher-cost loans take effect Thursday, more than a year after they were finalized by the Federal Reserve. On Oct. 1, new rules adopted by the Federal Reserve will go into effect, requiring greater diligence on the part of mortgage lenders and brokers who make so-called high cost loans for borrowers with weak credit. The interest rates on these loans are at least 1.5 percentage points higher than the average prime mortgage rate.

The regulations - finalized in July 2008 but only now being put into effect - bar lenders from making a high-cost mortgage without verifying that a borrower could repay the loan in the conventional way, and not simply through a foreclosure sale. During the home lending boom from 2003 to 2006, subprime lenders would often offer loans without requiring borrowers to prove that they could make the monthly payments. With stated-income loans - or as some called them, "liar loans" - borrowers could easily fabricate annual income figures and even buy a home without a down payment.

The final rule adds four key protections for a newly defined category of "higher-priced mortgage loans" secured by a consumer's principal dwelling. For loans in this category, these protections will:

· Prohibit a lender from making a loan without regard to borrowers' ability to repay the loan from income and assets other than the home's value. A lender complies, in part, by assessing repayment ability based on the highest scheduled payment in the first seven years of the loan. To show that a lender violated this prohibition, a borrower does not need to demonstrate that it is part of a "pattern or practice."

· Require creditors to verify the income and assets they rely upon to determine repayment ability.

· Ban any prepayment penalty if the payment can change in the initial four years. For other higher-priced loans, a prepayment penalty period cannot last for more than two years. This rule is substantially more restrictive than originally proposed.

• Require creditors to establish escrow accounts for property taxes and homeowner's insurance for all first-lien mortgage loans.

Moving in the Winter

RE.com Tips & Tools — Tue, 29 Sep 2009 13:08:00 GMT

By Gina Cappiello www.123Movers.com

Don’t let the ice and snow of winter sabotage your next move! Stay warm, safe, and smiling during your winter move simply by following these helpful tips:

Bundle up!
It’s always great to have a few warm pieces of clothing on hand during your winter move. Have sweatshirts, socks, sweaters, blankets, coats, and boots remain in your home until you are ready to leave permanently. You never know if your heater will break the day of your move or if the wet weather will soak you to the bone.

Don’t slip
Shovel and salt walkways, steps, driveways, and anywhere movers will be walking. A slip and fall while moving is not only embarrassing, but extremely dangerous. Even with freshly shoveled walkways to guide you, walk slowly and carefully throughout your move in case you missed scraping up a slippery spot.

Stay warm
Be sure your heat will be on for moving day at your current and new home. If the heat is not yet on in your new home, bring along some space heaters to hook up before you begin moving your belongings inside. This way, you will have a toasty home to relax in after the move and won’t freeze during your first night in your new home.

Drink (and eat) up
Keep a kettle of warm water for tea or a pot of hot coffee on hand to warm your movers up with. If you want to go above and beyond for your movers, have some soups (Ramen noodles will suffice) and a loaf of crusty bakery bread ready for them to eat during a lunchtime break. They will thank you for the warm gesture during the chilly move!

EDITOR'S NOTE: Don't forget about our other seasonal moving story, Moving in the Summer.

In The First Place: Closing On Our Home (And All The Adventure That Implies) Part II

Jason Cook — Wed, 23 Sep 2009 15:16:00 GMT

Ok, so in part I of this post we discussed the frantic lead-up to closing. That was definitely a hectic few hours, but we soon found out that the fun had only begun. We finally arrived at the closing office roughly 20 minutes late. But that's okay though because most everyone else was late as well. I guess word had gotten around about the mad dash to settle all of the final numbers! With all parties now in place, the closing attorney opened the proceedings by letting us know that the paperwork would likely not be filed at the courthouse until Monday morning. This was a little frustrating to all involved since we moved the closing up two hours to try and avoid such a situation. Still - no harm, no foul. On to the next step. Or obstacle.

Next, the closing attorney informs everyone that the wire transfer from the lender has yet to hit the escrow account. Now we've stepped it up a notch. We did have confirmation from the lender that the wire had been initiated, which eased some of my anxiousness. At least the money was on its way. But until the money arrived in the account, the seller wasn't willing to turn over the keys to the home. Understandable, but a potentially huge disappointment for eager first time home buyers!

So, with all of the fantastic announcements behind us, we dove right into the paperwork. The first step was to review the seller's side of the settlement statement as well as other seller-centric items. While I was probably in need of calisthenics to prepare for all of the signature lines that would be thrown at me, the seller's contribution was relatively minimal. Just a few strokes of the pen and the seller was dismissed and the gauntlet of former trees was laid out before us. Actually, I say that with a tinge of humor. I must say that the process wasn't as bad as I expected. I truly envisioned cramping in my hand by the end of the closing. Either I underestimated myself or overestimated the enormity of the task. Either way, we moved through the process rather quickly. Not nearly as fast as the process could be, though.

We were amazed at the different variations of forms that essentially stated the same premise: if you don't pay your mortgage, the bank will take your home. Seriously, it felt as if there was a stretch where every other page was centered around paying your mortgage. I know that bad things happen to good people. Folks become sick. They lose their jobs. Other terrible events such as divorce and death can leave people in impossible financial situations. I can understand how situations like that would regrettably lead to foreclosure. But...are there really cases where people just flat-out didn't understand that defaulting on their mortgage would lead to them losing their home? I wouldn't have thought it possible. Yet, after signing several times that I understood the consequences of not paying, maybe it is more of a problem than I thought. Obviously I pray we never find our selves in any of those situations!

The elation of completing the sign here/initial here marathon was quickly squelched by news that the wire transfer had STILL not reached the escrow account. By this point, we were quickly approaching the end of the business day. The possibility that we would not be receiving the keys to our new home was now very real. As I stated in part one, we live over 30 minutes from the closing office and the new home is only a few miles our current home. What to do? We didn't exactly get the "warm and fuzzy" feeling that we were welcome to hang out in the conference room and wait for the wire. We also didn't want to risk any chance of getting the keys. I mean, who wants to wait an entire weekend to go play in their new home? Luckily, our REALTOR® came to the rescue. He lives much closer to the title company so he offered to pick up the keys if/when the wire hit escrow.

Dejected, we headed to the car and hit the road. Talk about anti-climatic? We weren't even sure where to go. The plan had been to quickly stop by our current home, gather a few things (including Brady) and head over to the new home. Clearly nobody cared about our plans! As we navigated through Friday traffic and discussed our next move, we surprisingly received the call we had assumed would come much later. It was our agent letting us know that the wire had been received and he had the keys in hand! Woohoo! Game on...again!

Owing to the fact that we less than halfway through our drive, we decided to take the next available exit and camp out while our agent made his way towards us. As with most metropolitan areas, Charlotte has its nice areas and its not-so-nice areas. Conveniently enough (cue sarcasm) we found that our the next exit fell into the latter category. Undeterred, we veered off the interstate and found a small business park that seemed innocent enough. Soon thereafter, our agent showed up with keys (and a nice bottle of champagne) in hand.

So, at a small business park on the side of Interstate 77, my wife and I finally received the keys to our very first home. This fantastic, humble home was now ours and we couldn't wait to get there. As originally planned, we headed back to our current home for a few boxes and supplies, corralled Brady in the car, and made our way to our new home.

A hollywood ending; it was not. It was a thrilling moment nonetheless. We may have taken the "scenic route.&quot. As for the end result? As they like to say in North Carolina: nothing could be finer. We were, and are, first time home owners!

Remember, if you missed any of our previous In The First Place posts, you can find them all here.

Only 100 days left in 2009- Make it great!

Jennie James — Wed, 23 Sep 2009 03:51:00 GMT

The first time home buyer tax credit is expiring on November 30, 2009! It might be extended, but we don't want to wait around and see, because if it isn't, time will run out and buyers won't get their $8,000. Just a reminder, first time home buyers are actually anyone who hasn't owned a home in the last 3 years. A normal transaction in Southern AZ typically takes 30-45 days to close, so the latest that you and your agent want to be writing an offer is the week of October 12th! That's only about 3 weeks to find your next home! Better get started looking if you haven't already! There are some really great deals out there!

Speaking of great deals, have you seen some of the new home construction deals in the Tucson area?! One of them is offering to buy down your interest rate by 2% for the first year, so your interest rate could be as low as 2.5% for the first year! Several are offering bonuses, and quick move-ins that will let you close by November 30th!

It's really important to have a Buyer's Agent when buying a new construction home as the contract is usually really long and totally slanted towards the seller/builder, so your agent should be able to explain the contract to you and negotiate a few points. Plus, those agents that have sold new construction homes before know which extras will give you the best bang for your buck, and which things you may what to wait to do till after the home is done and all yours.

There are only 100 days left in the year, lets make the best of them that we can!

Sincerely,

Jennie James

Moving 2.0: How to Pack and Move Electronics

RE.com Tips & Tools — Tue, 22 Sep 2009 12:03:00 GMT

By Gina Cappiello www.123Movers.com

MP3 players, flat-screen televisions, surround sound speakers, and video game systems are pretty tough, but can get destroyed easily if they are not packed safely for a move. Follow these simple guidelines below to protect your prized (and pricy!) gadgets during your next move:

Packing
The best way to pack your pieces is back into their original boxes with their own pieces of packing foam. This guarantees that the item will safely fit into the box while being protected. If you no longer have the original box or packing foam, get creative. Cushioned packing blankets and durable tape are perfect tools to use to wrap large fragile items like flat-screen TVs and computer monitors up tight. If you do not feel that your items are protected enough by blankets, place them into a box filled with packing peanuts for extra protection.

Moving
If you can afford the extra expense, hire a separate moving company that specializes in moving fragile items. Be sure to choose the company you feel the most comfortable with and that has the most experience with moving high tech items. Do not choose a mover solely based on their estimate. You may be getting the best price on a mover, but you may end up with damaged goods because of it. If hiring a separate company is out of the question, do it yourself! Pack your items into the car in size order (big to small) and use extra blankets or pillows in between empty spaces to reduce wiggle room. If you are using a car that does not have collapsible backseats, don’t worry. Bigger items can be put onto the backseat and strapped in accordingly while smaller items can be placed on the floor or front seat of your car.

Unpacking
It is very important to be patient and work slowly when unpacking everything from your vehicle. Just like packing, unpacking gadgets can be extremely tedious. Before moving your sensitive items into your new home, make sure there are designated spots for them to be placed. Keep all of your items wrapped up until everything is moved into your home. To avoid accidents during the rest of your move, keep your electronics in an area of the house where there is the least amount of moving traffic. If setting up places for your gadgets is impossible to do during your move, keep your fragile items packed (and locked) away until everything else is safely moved in.

Moving is a high-stress activity. Don’t let your high-tech items get damaged during it. Follow the tips provided to guarantee a problem-free move for you and your electronics.

Dramatic Changes Part 3...Or, "How to build a listing inventory in 120 days"...

Jason Lopez — Tue, 22 Sep 2009 00:00:00 GMT

Now we are getting somewhere! After several weeks of the dreaded, "Getting ready to do something" stage, we are now moving into the actual doing! I love it when a plan comes together...sorry George Pepard aka John "Hannibal" Smith. So what does one do when it's a buyers market and you have no inventory to sell? We keep hearing about the suppossed release of thousands of new foreclosures and that the banks are trying to do the right thing...but how does that help The Smith Family that wants a new home now, has made 15 offers, and just can't get what they NEED...not want...but NEED? You get proactive and go out and find the inventory...and that is exactly what we are doing.

I have met with the top agents in my company and we have brainstormed, discussed, thought out, and created a plan of attack that is not only working...but working fast! I laid out an agressive plan to add 500 new listings to our books by the end of the year and we are out of the gate fast. The first week we have had nearly double digit listings, three great meetings with short sale negotiators, and a meeting with a solid contact for REO listings. The best part is we can feel the momentum building. Like I said, "I love it when a plan comes together!"

The cool things is that because we have some fantastic agents, with so much experience, it was just a matter of time before we broke out. But it's the enthusiasm, and responsibility for their own future and business that really excites me. Whenever a group gets together to talk about issues and challenges, well having 50 heads is better than one, right? The synergy and teamwork that has been created is just awesome and I can't wait to see what the 4th quarter holds for these exceptional people. Going back to my first post on change, I mentioned that transparency and keeping our eye on the goal was a key factor in making this work. I could not be more convinced of this now! Just the simple act of putting it out there, the good and the bad, and then having an honest discussion about what needed to happen and asking these true professionals for their best ideas and help to bring it all together has been THE driving force behind making these changes not only possible, but DRAMATIC!

So, I have decided to end this series and focus on making sure we keep the ship headed in the right direction. I would challenge any of you facing challenges and/or change to embrace the opportunity. At the end of the day it's about doing what you love and seeing others be successful...and we all have it in us to make that change a reality!

In The First Place: Closing On Our Home (And All The Adventure That Implies) Part I

Jason Cook — Mon, 21 Sep 2009 15:50:00 GMT

Everyone needs adventure in their lives, right? It helps to spice up the everyday, mundane cycle. Often, you really want the adventure and can't seem to find it anywhere. On those special occasions, your wish is granted and the monotonous becomes the adventurous. Those are good times, indeed. Still, sometimes you find a situation flipped upside-down. What you really long for is the safety of the ordinary. What you find, is the extraordinary. That is what we found as we prepared to close on our first home this past Friday.

The day started out smoothly enough. I had taken a vacation day from work to allow time for any last minute items that would need to be addressed. One of which was a routine visit to the vet for Brady. These routine visits are usually not so routine for our little ball of potential energy. I've never seen a dog that enjoys the vet's office as much as Brady. But he was particularly well behaved on Friday and the trip was without incident or any real level of frustration (most likely attributable to the absence of other dogs at the time of our visit). This turned out to be basically the only part of the day that went smoother than expected.

One of the primary objectives for the day was to visit the bank and withdraw the funds needed for closing on our home. This was a Friday objective because I had been unsuccessful in getting a commitment from our mortgage broker on the previous two days. Even with that rising level of stress and annoyance, I still felt comfortable with the pace of the process. It was 10:00 AM and closing wasn't until 2:00 PM. Plenty of time to get a cashier's check for our out-of-pocket closing costs. True, if you know the amount!

Next up was an unexpected battle over my middle initial. I received a call from our mortgage broker stating that the FHA had rejected our proof of homeowner's insurance. My insurance provider had my first name, last name, my wife's first name and last name correct. However, they included my middle initial. Clearly the act of a skilled saboteur, right? So back to the phone I went for what seemed like an eternity all to get a single letter removed from my policy and a new proof of insurance sent to the broker. But alas, the information was changed and resent. Or so I thought. Within minutes, I received yet another call from the broker. Apparently the insurance company sent a copy of the Request of Change but the policy information still carried my now-notorious middle initial. Thankfully though, the FHA came down off the ledge and accepted the new documentation.

Ok, I thought. I've always tried to realistic about things. I fully expect that, with something as complex and significant as the purchase of a home (much less a first home), something(s) will inevitably go wrong. Just roll with the punches and the situation will ultimately end favorably more often than not. So if a little squabble over my middle initial and a delay in confirmation of our out-of-pocket are the only problems we face on this day, then that's not so bad. Ah, the optimism of first time home buyers!

As the minutes passed, my anxiety level continued to climb. Still no word on how much cash we needed to bring to closing. As 1:00 PM approached, I shifted to a more forceful approach. If we were to make it to closing on time (the location was 35 minutes away), we needed to know how much money to bring and we needed to know it ASAP. Finally, around 1:30 PM, our broker calls back to confirm our closing costs. The only problem is, the figure is nearly $1,000 over our final Good Faith Estimate. Lesson learned: That's why the Good Faith Estimate is called an estimate! While the extra grand was touch to stomach, it would have been much easier to handle had I been informed about it...oh let's say more than 30 minutes prior to closing! Also, the final number included charges that were not applicable and/or were related to repairs required of and made by the seller.

Our mortgage broker noted that he was working on having those charged removed from our costs. So, with a quasi-final number on the board, we shuffled off towards closing. Luckily, there was a bank branch less than 2 miles from the closing office. Shortly into the drive, our broker phoned again to state that he had been successful in removing those charges and presented us with the final...final amount of closing costs that we needed to provide. With 10 minutes left until closing and 25 minutes of driving (don't forget the bank visit) remaining, we had finally cleared a major hurdle.

It wouldn't be the last, though. But I've waxed long enough for now. Stay tuned for part II.

**********UPDATE: Read Part II of this post here!**********

Remember, if you missed any of our previous In The First Place posts, you can find them all here.

Top 5 Reasons to Love Your Next Move

RE.com Tips & Tools — Mon, 21 Sep 2009 12:15:00 GMT

By Gina Cappiello www.123Movers.com

Moving does not have to be a negative experience. In fact, a move may be most exciting and important step you take in your life. Take a look at 5 fantastic things to look forward to during your next move below:

New neighborhood
Moving to a new town, state, or city means new surroundings. Think about all of the amazing new restaurants, shops, and places to hang out at that you will soon be discovering. You will also have new neighbors to meet and a brand new living space to make your very own.

New friends
Finding a new group of friends can be daunting and scary, but it is also a very liberating experience. You will now have absolute freedom to choose who you want to be close to without any pressure from your existing core of friends. New friends also mean new perspectives and stories to learn from, which will help you flourish in your new town.

New opportunities
There may be a bevy of different businesses in your new town depending on where you move to. Your move could mean a brand new job in the future with a fascinating company. There will also be new organizations to volunteer for which may unlock a new found love for a cause you never knew was there before.

New you
You’re reinventing your life by moving, so why not reinvent yourself? With a move, you are free to adjust your personality, style, and beliefs to become a whole new person without worrying about your current friends and neighbors judging you.

New culture
New accents, languages, ideals, and traditions will most likely be found in your new surroundings. Embrace your new town’s unique culture and learn as much as you can from it. You will probably become part of it eventually, too!

Moving does not have to be the worst thing to ever happen to you. Focus on the positive aspects of your upcoming move and get excited for the future instead of thinking your move is the end of the world.

Back to Basics, Part 2--Your Product

Bru5W — Fri, 18 Sep 2009 13:03:00 GMT

I talked about the Four P's of marketing in my previous post (product, price, placement and promotion) and in this post, I'd like to spend a little time talking about YOUR product. What are you selling? If you answered "real estate," you're wrong. If you answered "myself" then you are correct!

We get caught thinking that when we are marketing a product, there has to be a tangible object-something that we can hold, see, and touch. But in terms of a real estate agent, you are selling something intangible. You are selling yourself. When you are on a listing appointment, you don't sell the company you work for. The company will not negotiate for the owners. The company will not advise the sellers on curb appeal. The company will not take a buyer's family out to visit homes on the weekend.

The company you choose to work with should provide you tools to help you get business. RealEstate.com has an incredible lead generation program that provides company generated leads to its agents. But after that warm transfer, it is completely up to the agent to convince that customer that they are the best person to help them with their real estate needs.

There are countless books on sales and marketing. You've read some. I've read a bunch. We find authors and philosophies we agree with and then try to emulate them as long as we don't get distracted by the next big shiny philosophy.

A familiar theme in just about every book is to sell yourself, you need to provide something of value. Then you need to believe in the value you provide.

One of the authors I have read is Jeffrey Gitomer. A self-professed sales guru. I don't agree with everything he says but in one of his books, I think he nails the concept of value:

"If you want to build a relationship, if you want to get referrals, you have to become known as an expert or the expert in whatever you do. This requires hard work and study on your part. If you're not willing to do that, my immediate recommendation is run down to the post office and get a nice safe job down there selling stamps at the counter. If your customers value the knowledge and the expertise that you have delivered to them, they will think long and hard before they entertain the dregs of humanity who also sell your product. You may know them as your competitors."

Are you an expert?

According to Wikipedia, "Many accounts of the development of expertise emphasize that it comes about through long periods of deliberate practice. In many domains of expertise, estimates of 10 years experience or 10,000 hours deliberate practice are common."

I think what has happened in our industry, is many, many people became REALTORS® because they thought they could make money quickly and easily. Many did, but when the market declined, so did the number of real estate agents.

I would argue that the agents that have left the industry were never experts. I would also argue many of the ones that are still in the industry aren't experts either.

Conversation Agent, a blog I read, recently described their Five Attributes of Being an Expert. Here's their hit list:

"An expert is:

One who has tried, who has practical experience in a field.
Conversely, one who has been tried has a few wounds to show for it. If you don't have a glorious failure or two under your belt, you're probably not ready to be an "expert" for others hoping to avoid the same thing.
One who has acquired comprehensive knowledge and continues to learn about a field.
One who has authority as appointed to them by the community for having demonstrated they know their stuff.
One who experiments - taking the field further."

The more you are able to define the areas you are strongest in, the neighborhoods you specialize in, and the qualities that make you an outstanding agent the more you will be able to articulate those areas of expertise you may find useful in marketing yourself with consumers.

Don't be afraid to self-evaluate or ask friends, family or past clients for help. Most people are willing to offer opinions and if you are sincere about wanting to improve, they will be happy to help you.

Unique Ways to Announce a Move

RE.com Tips & Tools — Fri, 18 Sep 2009 12:03:00 GMT

By Gina Cappiello www.123Movers.com

What is the first thing to do when you find out you are moving? Tell everyone! Regardless of it is a local or a long-distance move, announce it in a novel way with one of these ideas:

Throw a “Surprise Party”: Send out invites for a surprise party but don’t tell anyone who it is for or why it is being thrown. Ask everyone to bring a food or drink that is easy to “move,” like appetizers, pastries, or cookies. When it is time for the big “surprise,” tell everyone to hide. Say you are going to escort the guests of honor in. When you have been gone for a minute or two, come back into the house and surprise everyone with the news. It’s a fun twist to put on the party and a great way to share the exciting news with everyone.

Send eCards or Personalized Greeting Cards: There are numerous free eCard websites to use to create a fun moving announcement. Some moving companies even provide an eCard template for their clients to customize and send out. If you are feeling ambitious, pick up a pack of cards and personalize each one with a fun message about your move along with your new contact information.

Drop Hints on Social Networks: Everybody is connected through social networking sites online, so why not announce the news creatively there? Start tweaking your online profiles to see if anyone catches on. After revamping your profiles, start dropping little hints in your news feeds, like the name of your new street or referencing the town you are moving to. This will get everyone involved and curious. When you feel like everyone is at the edges of their virtual seats and cannot take the suspense any longer, give them the great news!

No Time Before Your Move?: You can always throw a “moved in” party at your new home. Invite friends, new neighbors, and family members over to mingle. Have a notebook out for your party goers to write well wishes and their contact information in. Be sure to take photos of everyone at the party and post them on a free photo sharing website for all to see. Send out thank you notes shortly after with a favorite photo of the party and your new contact information. A moved in party will not only help you feel more at home, but it will also help bridge the gap between your old and new friends.

Do not forget that the most important part about telling everyone you are moving is keeping in touch after the big move. The Internet and cell phones make it easy to say hello to anyone around the world, so be sure to stay connected and involved with all of your loved ones. No excuses!

In The First Place: The Home Inspection

Jason Cook — Thu, 17 Sep 2009 14:53:00 GMT

Wow! I just realized that I haven't provided any updates on the home purchase in THREE WEEKS! Talk about a slacker, eh? It certainly hasn't been due to a lack of activity. Due to my abundant procrastination, I' not even sure where to start. Probably best to provide a quick update of what's happened over the past 3 weeks with regard to the inspection, since the inspection - and related events - commanded most of these past days.. Finally, as of my writing this, we are scheduled to close on the house tomorrow afternoon. Good times!!

The Inspection
We had our home inspection about 2 weeks ago. Though I'm stating the obvious, it is absolutely beneficial to attend your home closing. While it is also important to fully read the home inspection report, I feel like I have a much better understanding of the condition of our first home having been at the inspection. Our home inspector was very professional and courteous, taking time to point out items that he was noting on the inspection and talking through the various repair scenarios. A home inspector, I now know, also comes with a wealth of referrals for home repairs and improvements. I casually mentioned that we'd be installing a privacy fence and he had a guy for that. I spotted some warped seals between window panes and he was on the phone in a matter of minutes with a window specialist to determine if the situation posed a threat to the function of the window (it did not, for the record). In all, I was very pleased with our choice.

Yes, but what about our lovely new home? How did it fare against the trained eye? To quote our inspector, "I've filed more recommendations on some new construction homes than I am for your home". Not bad, considering our home is nearly 10 years old. Or wait, is that just a sad commentary on the new construction industry? Either way, the results were what I, as a first time home buyer, would have expected. Which is to probably say: things could have been worse! Most of the repairs were minor items such as entry door thresholds, ventilation boots, etc. My personal favorite was the fact that one of the bedroom doors did not properly line up with the striker plate, thus it did not stay closed. That's it! I really love this house, but I mean...who can live with that sort of shoddy workmanship, right?

Anyway, the inspection did bring to light one potentially serious issue. The inspector noticed two small cracks in the brick mortar around the foundation of the home. We talked at length about the situation and he stated that the cracks were barely wide enough to warrant inclusion in the report. Yet, he did feel that the foundation should be inspected by an engineer (wouldn't you know it, he had a guy for that too!). Though I was understandably concerned about the integrity of the foundation, my wife commented that I took the news better than she imagined I would. I think knowing about the potential issue prior to closing was key. Again, I'm stating the obvious, but it really did help.

After receiving the full inspection report, our REALTOR® prepared the Repair Addendum and presented it to the seller's agent. Within 3 days we heard back from the seller's agent that all repairs had been made. But, what about the foundation? I'm not engineer - I don't even play one on TV - but could you really have repaired a foundation, along with all other repairs, in less than 3 days? Well, no. The seller had a licensed contractor come out and inspect the mortar cracks. The contractor provided a written statement that the mortar cracks were not indicative of a foundation problem. That's great, but the inspector specifically stated that his recommendation was for an engineer to inspect the situation. Now, I'm not knocking licensed contractors by any means. But, I'm going to side with the inspector on this one!

Our agent contacted the seller's agent and requested that they have a certified engineer inspect the cracks. A second opinion, if you will. Much to our relief, the conclusion was the same: the cracks in the mortar were not related to foundation issues. His recommendation was to patch the cracks in an effort to deter moisture from reaching the foundation. Again, what a relief!

Remember, if you missed any of our previous In The First Place posts, you can find them all here.

Green Movin' Without Losin'

RE.com Tips & Tools — Thu, 17 Sep 2009 13:19:00 GMT

By Gina Cappiello www.123Movers.com

One task most of us face every few years can create loads of garbage and pollution. That task? Moving! Everyone is hopping on the hybrid green bandwagon lately, here are some ways to keep your move a little greener:

Don’t Trash Everything: Before packing up your belongings, take a few hours every day before you move to sort through it all. Pack away everything you want to keep and put aside everything you do not want. Take everything you do not want and get rid of it in a green way. Set up a moving day garage sale, sell your items online, or donate them to a charitable organization. Not only will you be greening up your life, but your “trash” could be someone’s favorite find.

Rent Reusable Boxes: Sturdier, stackable, and more reliable than their cardboard cousins, reusable boxes are a great way to green up your move. Not only are they delivered to you, but they are also picked up when you are all done unpacking them at your new home. This means no boxes cluttering up your new home or extra waste being thrown into our already overflowing landfills. Along with renting reusable boxes, utilize your suitcases and bags for packing. You’ll be surprised how many things a purse can hold!

Avoid using Non-Biodegradable Packing Materials: Styrofoam packing peanuts, bubble wrap, and foam are useful during a move, but not for the environment. If you’re looking to go green on your next move, try utilizing old newspapers to wrap fragile items, and then recycle the paper when you unpack. Wrap pieces of furniture and art with blankets to ensure they do not get damaged during your move instead of packing them in foam. If you must use non-biodegradable packing materials, ask around to see if anyone has any from a past move to give you. Reusing is always better than buying new for the environment and you wallet.

Use Eco-Friendly Movers: With the green movement in full swing, movers are getting in on the ground floor. New specialized green moving companies are springing up all over the USA to help end useless pollution from moving. Some provide eco-friendly packing services while others only use trucks fueled by BioDiesel that only drive where they must. Less air pollution and waste, here we come!

Offset Your Carbon Footprint: If you are unable to be green during your move or just want to contribute more to the cause, you can donate money to an environmental group to “offset” your carbon footprint. There are calculators you can use online to figure out what your footprint is and how much it would be to “cover” it up. Your donation goes towards protecting land, animals, or planting trees. It is an easy way to contribute even more to the green cause without moving.

Being green during a move does not have to be pricy or difficult. Follow the tips above to keep waste and toxins from polluting your moving day and the Earth.