Top 5 real estate posts of the day for 9/9/2009

1) Don’t hate me because I’m a real estate agent – A look at one reason the general public may not like real estate agents. Russell Shaw has a great response in the comments section.

2) Economists see housing bottom by 2010 – Most economist seem to agree the housing bottom is getting close if not already here.

3) How to calculate your mortgage payment using spreadsheet formulas in Excel, Numbers and Google Docs – Dan Green shows you how to set up a spreadsheet to run monthly payments.

4) Understanding the short sale addendum or SSA – A closer look at the short sale addendum and how it effects buyers and sellers as it appears in California, your state may be similar or completely different.

5) Even though much of the current real estate “news” is really just hype, there can still be food reasons for you to be in the market – Greg Swann takes a look at how the market may be on an artificial high because of the $8000 tax credit.

http://deansellsaz.com/wp-content/plugins/sociofluid/images/digg_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/reddit_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/stumbleupon_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/delicious_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/furl_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/newsvine_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/technorati_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/google_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/facebook_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/yahoobuzz_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/twitter_32.png

Is your short sale agent hurting you with pricing?

You have tried the loan modification process and have had very little luck so now you have decided that your best option is a short sale. While a short sale may not be the best option for everyone, if you are going to do it, do it right.

A short sale in Arizona is different than a short sale in many other states. Arizona is an anti-deficiency state so as long as the bank does not sneak it into the final contract, they will not be coming after you for the loss. That being said, an Arizona short sale is not about getting top dollar for your house, it is about getting a fair market offer and getting it sold.

That brings me to last week when I was calling on some listings for a buyer I am working with I came across one in Gilbert that appeared to me at first look to be overpriced. The home was listed for $250,000 as a short sale and had just recently been reduced from $260,000. At $250K I thought this Gilbert short sale was overpriced so decided to check on a few comps and wouldn’t you know, according to the recently sold comparables the value I thought the house was worth was close to $230,000.

shortsale-overpricingThis house had been on the market for over 130 days and had no offers. This Gilbert short sale was originally on the market for $290,000 and the house had over 40 business cards on the counter. Knowing not every agent leaves a card you can be assured there were many more showings of the home than that, yet, no offers. Meanwhile the home sits vacant, moving closer and closer to a date with foreclosure.

If you have a short sales agent working with you and you are not getting any offers, you need to ask your agent why. If you are a short sales agent and you know the price of your listing is $50,000 over market value you need to do a better job explaining to your sellers how the price of the home is hurting them, as long as it is within a reasonable range of market value. A short sale is about getting the seller out from a financial mess and avoiding a foreclosure on their credit, not about getting absolute top dollar for the house.

As always when considering a short sale talk to you accountant about tax ramifications.

http://deansellsaz.com/wp-content/plugins/sociofluid/images/digg_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/reddit_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/stumbleupon_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/delicious_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/furl_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/newsvine_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/technorati_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/google_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/facebook_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/yahoobuzz_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/twitter_32.png

Top 5 real estate posts of the day for 9/8/2009

1) Is your landlord in foreclosure? – Talk about taking advantage of a market condition? Great idea for a new site.

2) First time buyer tax credit will it be extended? – There is a lot of talk about extending the first time home buyer tax credit. Then again not everyone thinks it should be extended.

3) Over-updated, under-updated – When making improvements to your home make sure you are making them in the right area.

4) Wading through the online real estate minefield – Just because you can find homes online and on different websites does not mean the information you are finding is accurate.

5) REBarcamp – With 6 more REBarCamps coming this year alone, and a host of them already scheduled for next year, there should be one coming near you soon. If you have not been, make sure you get to one.

http://deansellsaz.com/wp-content/plugins/sociofluid/images/digg_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/reddit_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/stumbleupon_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/delicious_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/furl_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/newsvine_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/technorati_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/google_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/facebook_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/yahoobuzz_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/twitter_32.png

Top 5 real estate posts of the day for 9/4/2009

1) Why don’t I have prices on my flyers – Always a hot topic among agents, put the price on the flyer or not?

2) Lis Pendens, Deed in Lieu…it is all Greek to me! – A look at the foreclosure process.

3) How mortgage rates are reacting to the August job report – Rates are improving today and how the jobs numbers effected them.

4) Should I list homes or work with buyers – You need to look at what the market is doing to decide what may be the best for you right now.

5) Just listed – Ok, I don’t put listings in this daily column, but this one had such a cool video I thought I would share it. Great job with the video Amy.

http://deansellsaz.com/wp-content/plugins/sociofluid/images/digg_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/reddit_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/stumbleupon_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/delicious_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/furl_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/newsvine_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/technorati_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/google_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/facebook_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/yahoobuzz_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/twitter_32.png

How I got started with Docusign and why I would do it again

I remember it was in January of 2009. I got an inquiry about a property that we had listed and the buyer asked if they could see it right away. I showed the home to the older couple and learned they were down from Utah and looking for an off-season place in the Phoenix area.

docusignTwo days later they wanted to get an offer in on the house, but they had returned to Utah. It was Saturday night and after talking to the buyers realized fax was not going to work easily as the nearest fax machine was not close to them, it was at a Staples which was over 30 minutes away.

I sent out a quick Tweet asking people for ideas on good electronic signatures. A few trusted friends responded back quickly and recommended DocuSign. So I signed up. During the sign up process I was in a rush and as happens, made a mistake and could not get it to work.

I had told the buyers they would have the contract before late on Saturday night, and here it was about 7pm. I sent out a quick Twitter alert that I was having problem and needed advice on how to fix it. Within minutes I received responses from both @DocuSign and @tgonser on Twitter. I would not realize until later that @tgonser was the owner and president of the company.  I was very impressed with their support on the Internet at 7pm on a Saturday. From there I was sold.

DocuSign not only helped me get that deal done, they have saved me dozens and dozens of hours of chasing contracts over the last 8 months. I have said it many times, besides my car and Blackberry, it may be the most useful tool I have in my real estate career.

http://deansellsaz.com/wp-content/plugins/sociofluid/images/digg_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/reddit_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/stumbleupon_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/delicious_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/furl_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/newsvine_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/technorati_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/google_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/facebook_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/yahoobuzz_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/twitter_32.png

What message are you sending with this picture from the Phoenix MLS

There are a couple of things I always agree with @PhxREGuy about, UT football (Hook ‘em Horns), Republican politics and bad or no pictures in the MLS. Well this is one picture I thought of Jay immediately when I saw it.

This picture was from the MLS on a $360,000 Phoenix short sale. I see so many bad pictures a day this could become a weekly feature, maybe starting next week every Friday we will do the bad MLS picture of the week. Or if I get enough people to do them maybe I can add it to my daily Top 5 post, add in bad picture of the day. So if you have any bad pictures and you want to send them to me please do.

1-naked

http://deansellsaz.com/wp-content/plugins/sociofluid/images/digg_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/reddit_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/stumbleupon_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/delicious_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/furl_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/newsvine_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/technorati_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/google_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/facebook_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/yahoobuzz_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/twitter_32.png

Top 5 real estate posts of the day for 9/3/2009

1) HVCC: Who is the least interested – Does anyone like HVCC? Well it appears maybe loan officers do.

2) FHA on track for busiest year – As prices hit bottom, new buyers came onto the market, and FHA loans have become all the rage.

3) Tips for sellers for an open house – Not only good for sellers, but good for agents to use with their sellers.

4) Home Owners Association during closing – What are you really getting for your money? – David Lorti takes a look at the HOA and what their role is during the process of buying a house.

5) A message about the power of content, any content, for your real estate blog – Great message from Teresa Boardman, just get content out there.

http://deansellsaz.com/wp-content/plugins/sociofluid/images/digg_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/reddit_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/stumbleupon_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/delicious_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/furl_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/newsvine_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/technorati_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/google_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/facebook_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/yahoobuzz_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/twitter_32.png

DeanOnFacebook.com, for now at least – Not using common sense in a specific situation

mecolor One of the great challenges I have faced my whole life is my name. I have joked for a long time that I want to change my name to Dean Skywalker, or something a little easier to spell. Dean Ouellette is not the easiest name in the world to spell, but it’s my name.

Towards the end of last year I decided I needed to control my name. Being in real estate and meeting a lot of people I wanted to be easy to find and when you searched for  Dean Ouellette you would find me and not an artist in San Francisco.

As most who will read this also know I am a big believer and user of social networking. I am very active on Twitter, Facebook and Linked In. I also knew it was not going to be easy for someone to find me on Facebook as more often then not when they typed in my name they would not be typing “Ouellette,” but likely “Ouelette” or “Oullette” or “Ouellete” or… you get the point. It is more often than not my last name is misspelled.

I decided to steal an idea I had seen someone else use and I registered DeanOnFacebook.com.  I would then take that page and make it a direct link to my Facebook page. No worries about name being misspelled again.

I could not see a reason why Facebook would have a problem with that. After all if you were to look at the back of my business card, see DeanOnFacebook.com and wonder what that was you would be sent directly to a Facebook page. In theory more traffic for Facebook and more people seeing their advertising. It’s not like I created a parody site or I am trying to make money off it, just trying to make my Facebook page easier to find.

(Maybe instead of Dean Skywalker I should change my name to Dean Facebook.)

Here is the letter they sent me today. And it is a good thing I got it on my Blackberry because it went into my Gmail spam folder and would have never seen it. [Read more...]

http://deansellsaz.com/wp-content/plugins/sociofluid/images/digg_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/reddit_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/stumbleupon_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/delicious_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/furl_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/newsvine_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/technorati_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/google_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/facebook_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/yahoobuzz_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/twitter_32.png

You Can’t Refinance: Can You Still Save Money On Your Mortgage?

upside-down-houseMany people are stuck in their current mortgage. They can’t refinance for any number of reasons. Some of the most common reasons that people are “stuck” in their current mortgage include:

  • Some are upside down – meaning they owe more than their home is worth.
  • Some people have taken pay cuts at work and simply don’t make as much money as they used to.
  • Some people had too much debt – which leaves their debt to income ratio out of whack, or maybe they have even started a debt settlement or bankruptcy program.
  • Some people are working on trying to get their lender to modify their loan.

No matter what the reason is if you can’t refinance your current mortgage, is there anything that you can do to save money on your monthly mortgage payment each month?

Yes.

There are two things that you can do.

As you know, your mortgage payment is made up of Principal, Interest, Taxes and Insurance. If you refinance, then that will address the Principal and Interest – but if you don’t want to refinance (or can’t) then you can still save money each month on your taxes and insurance.

The first thing that you can do is to find out if your property tax assessment has been lowered. If you live here in Arizona, and your property value hasn’t went down, it is probably time to dispute it. If your property taxes haven’t went down, get on the phone with your county tax assessor and find out what it takes to dispute the assessment. You might be surprised to learn that by being a squeaky wheel you can actually save some money on your taxes.

Next, shop around for the best deal on homeowners insurance by getting multiple homeowners insurance quotes from companies you know and trust. There are also things that you can do to get a lower rating with your insurance company such as find one of the best home alarms and have it installed. Many times, home alarm companies will give you the hardware needed – and it will also save you money on your homeowners insurance.

So even if you can’t refinance, these are two simple things that you can do to lower your monthly mortgage payment — without refinancing.

And in today’s economy, every penny counts.

http://deansellsaz.com/wp-content/plugins/sociofluid/images/digg_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/reddit_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/stumbleupon_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/delicious_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/furl_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/newsvine_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/technorati_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/google_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/facebook_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/yahoobuzz_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/twitter_32.png

Top 5 real estate posts of the day for 9/2/2009

1) 3 reasons you should stop wasting your time online and call an agent instead – Most people start out looking for houses online, but that does not mean they shouldn’t seek the help of an agent to help them find their home.

2) Home selling strategies: Listings needs words that match buyers searches – You mean buyers don’t Google “custom home with majestic views?” PropertyNut has some good free classes on just this subject too.

3) First time home buyers NAR numbers – Almost half of all sales right now are first time home buyers, more reason to consider extending the first time buyer tax credit.

4) Thoughts on the NAR IDX enhancement group – For those of you who have been following the IDX/scrapping controversy, here is a must read by Jay.

5) Google Reader helps you blog more efficiently – Some good ideas on using Reader to help with your site that I had never thought of.

http://deansellsaz.com/wp-content/plugins/sociofluid/images/digg_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/reddit_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/stumbleupon_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/delicious_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/furl_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/newsvine_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/technorati_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/google_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/facebook_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/yahoobuzz_32.png http://deansellsaz.com/wp-content/plugins/sociofluid/images/twitter_32.png