When you are watching the news and see those nightly national real estate stats, remember they are not relevant to you and your real estate market at all. When you hear only 31% of homes sold last month were distressed short sale or foreclosures, that doesn’t mean anything to you in Tempe and the East Valley where that number is closer to 62%.
In the Tempe and Phoenix market the gap on price per square foot between foreclosures and short sales is narrowing and getting much closer. While a foreclosure still is, and probably always will be more expensive than a short sale, the numbers are getting closer. This may be one reason that banks are asking for more sellers to come to the table with money.
1) Can SMS Real Estate Marketing Attract more Home Buyers? – There will be more text messages sent this year than phone calls made. Why fight it any longer. People like to communicate that way, make it easy for them and place a rider on every sign you have.
7) The Source of Confusion – What do you get when take one of the top thinkers in the business dissecting the work of another top thinker? You get something that makes you question the very work model which you love.
9) “Gearing Up Your Web Presence” Seminar – I dont agree with those who believe you need to be successful online to be a successful agent, but if you are making it part of your business plan, are you doing it right.?
Here is today’s list of top real estate posts of the day.
1) Brokers: embrace difference, love the eccentric – Marc Davison of 1000watt Consulting talks about what he would do if he was a broker, right down to the restroom in his office. The key, being different.
2) What’s wrong with Private Transfer Fees? – While all the comments on this post agree with the author, I differ. Private transfer fees are annoying and should be done away with. Add the fee into the cost of the house and that is real disclosure.
6) The Foreclosure Epidemic – A Discussion with Alex Charfen – Ok I am going to put aside my feelings on the CDPE program and Alex Charfen for a minute (and no John, there are better programs out there) but I love his look at foreclosures in this video. He explains why it appears foreclosures may be slowing down right now, but they are really not. 1-in-6 mortgages in this country are late. Just let that number sink in.
7) Do We Believe in the Millenials? – People currently between 18-30 are Millenials, how will they effect the future or real estate?
1) Success Simplified – The FIX or Fire It Method – Not sure which part is my favorite, the great advice to real estate agents in the bottom half of this post or the fire your bank image at the top.
2) The Internet is Broken – This is the best response to social media does [...]
1) The Ten Day Close: Why Other Lenders Whine About It – This one is getting annoying. We have 2 lenders here in Phoenix who can get loans closed (even in today’s market) in ten days or less. One of them even guarantees it. It is amazing to see other lenders, who work for shops [...]
1) Cloud CMA and the downfall of crappy real estate software – I have been excited to try this since I first heard the early rave reviews. Problem… if you are not in California you are out of luck.
2) Video: Price Differences Between Foreclosures and Non-Foreclosures – According to this Zillow video it appears even [...]
1) Should you do a Short-Sale or just keep paying and wait? – Interesting look at the situation form a math point of view, but I disagree with the notion it is just a math problem.
2) The Top Five Signs of More Real Estate Pain to Come – Well when you put it that way…. [...]
1) Loan Modifications With Principal Cuts Attract Lenders Attention – Lenders are starting to look at loan modifications with a principle balance reduction as realistic alternatives, and they need to if they expect them to work. I personally predict that some form of principle reduction with a home equity fractional interest where the buyer needs [...]
1) Changed Circumstance: When a Good Faith Estimate CAN be Re-Issued – Rhonda Porter is considered one of the top lenders online and a go to resource for many topics. Porter has probably been covering the new GFE more than anyone else.
2) Brokerage of the Future – Always a hot topic, what does the future [...]
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