Top 10 real estate posts of the day for 3/8/2010

Here is today’s list of top real estate posts of the day.

1) REDC Auction: Scam or the Real Deal? – There are different types of auctions for houses, there is the type where you go to the courthouse step and bid on the foreclosures and then there are the auctions like Hudson &Marshall or REDC where you can bid on a property that has been on the market a while. The advantage to the second is you can visit the house before hand and you can use financing, but don’t think you can steal it with a low ball offer.

2) Rants and Raves ! WHERE DO THESE MIAMI PRICES COME FROM? – One of my favorite subjects, why do we still price houses like it is 1992 and people are still looking at pictures in a MLS book. How we shop for houses has changes, so should the way we price them.

3) Is a Short Sale Free? Will it Cost Me Anything? – This is a common question I get too, what will a short sale cost me as a seller? The answer should be not much if anything at all. Although I would add into this equation the cost of getting legal advice.

4) Why Never Taking ‘No’ For an Answer Will Make You Wealthy – This is a great post that is relevant to investors, agents or anyone in life. If you refuse to take no for an answer it will get you thinking out of the box.

5) The Challenge of Being an FHA Home Buyer in a Seller’s Market – Condos, single-family homes, both have different challenges, but both do have challenges with FHA loans in today’s market.

6) Real Estate Agency, and Why I Can’t Help You – If you are working with another real estate agent, sometimes we just need to do the ethical thing and say sorry, we cannot help you.

7) Is Homebuyers’ Negotiation Power on the Rise? – The average price a house sold for 97.3% of the last list price in January.

8) The Difference Between a Blog and a Website – Do you know what the difference between a real estate blog and a real estate website is? Not much.

9) Consumers Are Not Getting Enough Credit in Today’s Market – Access to credit, HVCC, all things that are helping keep the market down.

10) Two Things: Agents and Listings – Great story for Brokers looking to expand, there are only two things to concentrate on. And for agents, take this information to your business. What are the two things that are money making activates, concentrate on them.

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Phoenix real estate FAQ from March 5, 2010

Kristin LaVanway joins me as we answer your real estate questions straight from the trenches of the Phoenix real estate market….in only 30 seconds. Today we answer:

  • Should you require a deposit on a short sale?
  • Can the bank dictate terms in a short sale contract?
  • Should agents rebate commission?
  • Can I sell my house for a higher price if it is not a bank owned or short sale?

Great job behind the camera, Sasha Lopez!

This week we answer the questions:.

  • Should you require a deposit on a short sale?
  • Can the bank dictate terms in a short sale contract?
  • Should agents rebate commission?
  • Can I sell my house for a higher price if it is not a bank owned or short sale?

Next week we want to answer your questions, leave a comment below with questions you want addressed

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Top 10 real estate posts of the day for 3/5/2010

Here is today’s list of top real estate posts of the day.

1) 8 Ways To “Un-Approve” Your Mortgage By Mistake – Like your mom always said, behave. You just need to read to know what misbehaving is.

2) CDPE – Certified Disaster of Proportions that are Epic – Anyone who has read my blog or watched the videos I do knows I am not a big fan of designations. I think I even called them money making ponzi schemes for the NAR before. As a matter of fact one of the most overrated designations in my opinion is the CDPE. That may be why I enjoyed this story so much.

3) Should New Agents Choose to List to Exist or be Busy With Buyers? – I know there are people out there that don’t enjoy working with sellers, and others that don’t enjoy working with buyers. Then again I have met agents that don’t enjoy working with either. :-/ I say bring them both on.

4) Roost Launches Free Real Estate Facebook Application – I am not a big believer in pimping real estate on your Facebook page or even a fan page for you as an agent. Really who wants to read that, not exciting. But this is something I will probably add in to my Fanpage TempeAZ. I really like what they have done with it.

5) The passion of the Realtors Property Resource – I’ve said it before, can you ever get enough RPR? I cannot wait to see this in action.

6) Tips for selling in today’s market – Really is a great video to use for sellers to prepare them for selling the house.

7) FOR SALE BY OWNER… You’re Certainly Not Alone, Thinking You Can! – A wealth of good advice for those who are looking to sell their home by themselves.

8) Create A Real Estate KIT and List Properties Anytime Anywhere – There is a few things in here I would never have, like paper contracts? When is the last time I used paper? But still a good list to go off of.

9) 27% of construction workers go jobless – And we wonder why the housing mess has such an effect on the economy.

10) MLS Photo Fail – There is bad photos, and then there are bad photos. Maybe there is a reason this listing expired before it sold.

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Top 10 real estate posts of the day for 3/4/2010

Here is today’s list of top real estate posts of the day.

1) Realtor Facebook Fan Page Strategy Gains 4,000+ Local Fans in 12 Days – He is now over 7,000 fans in 15 days. I first mentioned what Dale Chumbley was doing in my Top 10 list on day 2 of his 365 day project. I thought it was going to be a hit, but nothing like this.

2) Shock Value – Lesson learned, keep your house ready to show when you are selling it because you never know when the buyer will be coming through that door.

3) CitiMortgage Tests New Foreclosure Alternative – So Citi is looking at taking homes back with a deed in lieu of foreclosure instead of foreclosing. If other banks followed this my guess is it would have an effect on short sales. Part of the reason it is beneficial for a bank to allow a short sale is because the cost of foreclosing. They would still have carrying costs, but how much of the cost is in the actual foreclosure? Something to watch.

4) How Much Would You Pay for a Viable Real Estate Lead? – A good look at leads, what do they cost when you buy them and are they worth it?

5) Home Inspection — Is it important when buying a home? Any post that every answers that question with a no would never make my list. Talk to your agent about good home inspectors. They know the good ones from the ones who miss black mold. Yup, it happened.

6) Traits of a Great Real Estate Agent – Great advice on being a great real estate agent, but really this should have been titled be a great listing agent. And we all know we need more great listing agents. There are some out there, but not enough.

7) Buyer Agency – is This Realtors’ Dirty Little Secret? – I’m including this because I would love to see more discussion. I know most agents I talk to never use an exclusive buyers agreement. Yet they are represented really in the comments here.

8) OK, not exactly a post here, but I noticed this fancy new brochure that NAR has put out on the HAFA program. I am still convinced, as I have been since November when I did my first video on it, that Vicki Cox Golder has not read this. I’d love to know how much of my dues went to the  HAFA brochure from the NAR. Another fine government program that will have the same effect as the last few useless programs.

9) It’s Not You, It’s Your Neighbors – One of the biggest challenges with getting a new loan, be it a new or refinance, is the appraisal. Appraisers were quick to jump prices in the mid 2000’s and now seem just as quick to price homes in the other direction. Even when every indication is prices may be raising in an area. So how do they come up with that price? Blame your neighbors.

10) How Long Do Potential Buyers Need to Wait to Obtain Financing after a Hardship? – It’s a common question we get a lot these days, if I file BK, or do a short sale or have a foreclosure, how long until I can buy a house again?

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Short sale agents need to stand up to banks when the overreach

Video 97:  I had a email from an agent in Colorado the other day. We had a conversation back and forth on Skype and I couldn’t believe what he was telling me. GMAC was requiring the buyer in a short sale purchase to put down x amount of money as earnest money. Then once it got past the inspection period if the buyer backed out and the they lost their earnest money, the earnest money was to be given to GMAC.

GMAC is not a party in this contract. Banks you have to realize that you you do not own the house the homeowner owns the house. The contract is between the homeowner and the buyer. You can either approve or not approve the final number on the HUD but you are not a party to this contract.

Agents needs to start standing up to banks and telling them that. They have no right legally to step in and dictate the terms of a contract. It is not their house. They can approve or not approve if they choose to the short sale but they are not a party to the short sale contract and banks you need to back off because and agents you need to start standing up to banks because they are in the wrong here. The agents are in the right to stand up to them and tell them they are not a party to the contract.

Do they want to accept this short sale or not accept this short sale? That’s it! And if they don’t accept the short sale most likely it’s going to foreclosure and they are going to make off worse than they would if they’d accepted the short sale. So agents you need to do the right thing start standing up for your clients and start standing up against these banks. Would love to hear your thoughts, you can leave a comment or e-mail me Dean Ouellette.

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Top 10 real estate posts of the day for 3/3/2010

Here is today’s list of top real estate posts of the day.

1) Just When You Thought It Was Safe… – Once again Elizabeth Newlin thoroughly entertains as she educates. I personally wish she wrote more, her stories are so entertaining when she does. Good education in here for those looking to purchase Short Sales.

2) What is LPMI? – What is lenders paid mortgage insurance? It is an alternative to PMI you may want to consider.

3) Home Shoppers Unlikely to Obtain Estimated Good Faith Estimate – HUD wanted the GFE to be a tool to rate shop, but because lenders are locked into what is on the GFE (and things change quickly) they are reluctant to give one out.

4) If you think a real estate transaction is easy, think again. – Funny how timing works, I was sitting at the Pub N’ Grub last night with another agent discussing this very issue over beers.

5) Let Uncle Sam Pay to Replace Your Drafty Windows – You have until the end of the year to make energy saving upgrades in your house and get a tax credit. Here is a good post on tips for replacing your windows. The only part I don’t like is the headline, Uncle Sam isn’t paying you squat, it is the tax payers in the country that are. But the program is out there, I would take advantage of it if you need upgrades.

6) Hate your real estate agent? Here’s why! – I found this very interesting, the market condition seems to be tied to ones satisfaction with their real estate agent.

7) CREATING LEADS VERSUS CONVERTING LEADS – Great piece on the difference between generating leads and making them customers. You need to find what works for you and concentrate on that.

8) What’s ‘Good’ Leverage? Maybe Not What You Thought – This is what I love about Jeff Brown, he takes your common perception of investing and spins it upside down. He makes you question everything you thought you knew about investing.

9) The Dubious Resting Place of TARP Funds – So where did all that TARP money go? The answer may (or may not) surprise you.

10) Multiple Offers, 2010 Style… – We have been dealing with it for a year now in the Tempe/Phoenix area. Sounds like other parts of the country are now facing the same thing.

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Top 10 real estate posts of the day for 3/2/2010

Here is today’s list of top real estate posts of the day.

1) Who is moving up? – You can make a strong argument for how effective the first-time home buyers tax credit has been in helping the housing economy rebound, but the move-up credit has not had nearly the same impact.

2) Why the Rush for Investors to Buy Land? Genius or Madness? – Some investors are buying up land in Arizona and Nevada, is this a wise move, or foolish. I have seen the land prices here in Arizona, they are so inexpensive right now I think this move is very wise. Eventually this market is going to turn around. Somewhere like Arizona will still be a desirable place to move to and they will need to start building somewhere.

3) The seller didn’t submit my offer to the bank on a short sale… – One of my favorite subjects or should I say one of my pet-peeves when it comes to short sales. Who owns the house. It is not the bank, they are not a party to the contract.

4) Selling raw land? Not so fast, says NAR. – Wait isn’t that what we do? We sell land which may or may not have an improvement on it.

5) Jumbo Loans: A General GuideJumbo loans, yes they are still out there. They are just a little harder to qualify for.

6) The Importance of A Final Walk Through When You Are Buying – Final walkthrough is everything! Buyers there is no need to take the risk and agents there is to much of a liability.

7) Fannie Mae Seeks Another Bail-Out – A little piece of advice for Fannie, if you sped up your approval of short sales at a reasonable price you could liquidate some of those bad loans quicker which you could then turn around and reinvest into good assets quicker. Just a thought.

8) Have You Seen Your House Listing Lately? – Ok Matt is going to far now, he actually wants agents to put in time and effort to make the seller’s house look good to the public? But honestly… if you are a seller why would you accept this?

9) Focusing on the Median Price Can Be Misleading – Good argument that had not thought about.

10) Mortgage Pricing Gets Unpredictable. It’s Time To Lock Your Mortgage Rate – It is not often you hear someone like Dan Green come right out and say lock now, so listen up.

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Arizona Short Sales Sellers Advisory – Good and the bad

Video 97: I applaud the Arizona Department of Real Estate for issuing a Short Sales" href="http://deansellsaz.com/wp-content/uploads/2010/03/ss-seller_advisory.pdf" target="_blank">Short Sales Sellers Advisory. They have included a lot of good information such as scams to avoid, options to short sales and advising you to get legal and accounting advice. The one thing I did not agree with them on is their recommendation to hire an agent with a short sale designation. While a designation is not a bad thing to have, there are plenty of good agents who do not believe in the money making aspect behind designations and may not have a designation, but may have as much experience and/or knowledge as someone with a designation. The best way to hire a Tempe short sale agent is to talk to a few agents, ask them their process and see what they share with you. You will quickly be able to tell by their short sale process which agent to use. Would love to hear your thoughts, you can leave a comment or e-mail me Dean Ouellette.

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Top 10 real estate post of the day for 3/1/2010

Here is today’s list of top real estate posts of the day.

1) Ten Questions to Ask Yourself Every Month – Did you join me in making a great business plan last November for 2010, and have not looked at it since January 5th? If so this method may be a better way to keep on schedule.

2) On Admin Fees and “Commission”Kristin LaVanway and I were just talking about this a few days ago. We came to the same conclusion that brokers should not be charging an administration fee on top of commission. But interestingly Jonathan finds a court case which may make it illegal to do so.

3) Indexing on Top of Google…the Easy Way! – Want to be on the top of Google? The local business center may be the answer.

4) What happens after the tax credits? – Check out the results of the unscientific poll here. According to the poll results the sky is falling.

5) MOVE puts on the white hat. – Ok Greg you peaked my interest for sure. Anyone know of any online demos for this? I would love to see it and write about it if you do.

6) “Walking away” is the new divorce –I love the metaphor, walking away from a loan used to be taboo, much like divorce. But times change.

7) Existing Home Sales – Down Or Up? – Matt does a good job at taking a set of numbers and showing how it could be bad news or good news depending on which way you wanted to look at it.

8) Homeowner Estimates as Good as Zillow? Appraisal Academics Think So – Zillow estimates are horrible if you are trying to figure out how much a to list a house for, but Zillow even admits they are not perfect and they are intended to be a rough estimate of a value in an area.

9) Have a Question About Your Home or Zestimate? Check Out Zillow FAQs – Zillow comes right back and defends themselves with this post and again stresses they are only a starting point. But I have yet to talk to a home owner or buyer who understands that.

10) A Real Estate And Mortgage Technology Conference You’ll Want To Attend – They have a world class speaking group in Atlanta this year. If anyone wants to chip in some airfare I will gladly wear their t-shirt the whole time I am there ;-)

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