Top 10 real estate posts of the day for 3/22/2010

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

1) How screwed up is Bank of America? – The stories on the banks messing up on these foreclosures seem to be never stopping. Here is another one where the bank decided to foreclose on a house and take the goods inside. Even though they were not the lien holder on the house.

2) Will Getting A Loan Modification Hurt Your Credit Score? – Foreclosures and short sales are not the only thing that can damage your credit. Loan mods could have a negative impact too.

3) Use your Business Cards Effectively: Direct People! – There is somewhat of a point to what he is saying, but that is easy to say for me and Josh Aberson, but if your name is Ruth Griffith or John Smith, it is a little harder. And I also want to make sure they know I am easily found on social media so I list all my social media platforms on the back. And if they are driving down the road and want to see a house, I want them to pull out my card and call me, not the agent on the sign so I make it easy. But I get his point.

4) The Lowest Mortgage Rates of 2010 Will Be Locked In March And April – Mortgage rates have to go up they cannot go any lower, we have been hearing it for a solid year now. Dan Green thinks there may be about another month and a half left.

5) Foreclosure Inventory Is Increasing – With numbers going up will banks slow down again on the number of foreclosures they do to keep inventory lower?

6) The Advantages of Presenting and Receiving Offers In Person – It is harder and harder to do these days with the amount of foreclosures, but that is a local thing.

7) What Will You do for Success in Real Estate? – Choosing between work and down time is always a difficult choice. I like John tend to pick work right now.

8) Are You B. F. D. or Delusional? Take The Scrape The Label Test. – This is one of those posts you need to read 2-3 times to digest it, but you should!

9) 10 Commandments when preparing to apply for a mortgage. – Short and to the point, more people should listen to number 10.

10) Have you heard the one about the lawyer & the shark? – Lawyers and Realtors, she is right, we have so much in common. Both not held in the highest of regards, until you need us.

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Top 10 real estate posts of the day for 3/19/2010

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

1) Are Wall Mounted TVs a Fixture? – Kelly get’s it right, why leave anything to chance. Write it into the contract!

2) What To Consider When Pricing Your Property For Sale. The What’s, Why’s and How’s Of Creating A Useful CMA (Competitive Market Analysis) – A market analysis is going to help you price your house right, which is very important in pricing a house. Your agent wants to sell the house for as much money as they can, but they are also going to be realistic as they are detached emotionally from the home.

3) It’s Official: Facebook is kind of a big deal – If you are an agent it is becoming almost mandatory to be on and be active on Facebook. When they become the most visited website in a given week passing Google, you know they are big.

4) Text Messaging Lead Capture For Real Estate Pros – OK I am going to admit when I first started reading this I was already planning my text messaging is not a good idea speech, but then I read it. He almost has me convinced.

5) Help a FSBO Go Hi-Tech! – Hmmmm will this work? I am not sure, but it is one of the most creative ideas I have heard for going after FSBO’s.

6) Open Houses Help Sell Homes – I agree and disagree with Joe here. I agree the online presence or online open house is more important than a traditional open house in selling the house, but I think the number is so low for a traditional open house because most agents don’t market a traditional open, they just throw out a couple signs at the end of the road.

7) First Step to Listing Success – Dirk Zeller’s posts are almost always so good and packed with useful information. He should write a book. Oh he already did that?

8) FHA Rules Changing Faster Then I Change My Underwear – More FHA rule changes including questioning higher prices because of seller concessions built in.

9) Realtors, I Want You to Like Me… Or Do I? – Can agents get along? Just go to search.twitter.com and type in #RETT.

10) Generating Real Estate Leads Through Social Media – Great post about how the power of social media may really be in driving traffic to your site/blog.

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Top 10 real estate posts of the day for 3/12/2010

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

1) Three Geniuses Walk Into a Bar… – Three respected individuals in the industry answering a series of questions in 10 words or less (sometimes).

2) FHA Flips for Flipped Homes (Some Restrictions Apply) – The FHA 90-day no flip rule was suspended for a year in February. There are restrictions though.

3) 5 Secrets To Success When Getting a Mortgage – Here are five things that seem so obvious to us for people who are in the process of buying a house. Then thinking about the last year I think I had someone who broke all five of these rules.

4) 1,000,000 Real Estate Agents Have Got IT All Wrong – Very interesting take on agents and how they do and should be using the internet and their website.

5) In Just 50 Days Your Home Will be Worth $8000 Less! – Going into last November I would have agreed with there, there were a flood of people looking to take advantage of the first-time home buyer tax credit. I just do not see the same wave of people this time.

6) Realtors Top Marketing Preferences – My favorite part of this may be how little agents think of Youtube. There were some surprising answers, but the one thing I agree with, referrals are still the king.

7) Paying More Than Asking Price For Your Home – In today’s market sometimes you are going to need to go over asking price to get what you want. That doesn’t mean you are overpaying.

8) Reclaiming my “rookie” enthusiasm…. – This is a great post that showed up in my RSS reader yesterday. I didn’t realize at the time it was a year old, but it is still worth posting as a top post of the day.

9) Impacting Home Values Is the Real Estate Industry Heroes or Villains? (Video Blog) – As agents we impact the value of the home through pricing and how we market the home. We also effect the future value of other homes in the area.

10) Treating Buyers the way Greg Swann treats sellers…and Cheryl Johnson treats agents in her office. – This is a very interesting tool that any brokerage could use that would save both time and money for the agents and their buyer clients.

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Top 10 real estate posts of the day for 2/23/2010

1) A pulse, a passing grade and a business card: raising the bar on real estate agent qualifications – What will the brokerage of the future look like? Will more formal education be required, will more real estate class hours be required? It is hard to imagine this will be the model for a business where the agent needs to pay the brokerage every month to be associated with it.

2) IRS Clarifies What’s Needed to Claim Tax Credit – If you are applying for the tax credit do you now what you need to submit to get the credit?

3) Bank of America forecloses on house that couple had paid cash for – I have a question for Bank of America. Why does it seem that almost every time there is a nightmare story about a bank having to do with a botched foreclosure and/or short sale the bank involved tends to be BoA? This is at least the third one of these I have read about, good to see the owners fighting back.

4) Breakout Session Highlight: Short Sale Offers and Contracts That Win – Part of a session from the Keller Williams Family Reunion #KWFR. We often read about how to deal with short sales, but how about dealing with buyers who may be interested in a short sale?

5) The Offer: There’s More to It Than Price – What if your offer on a house was the highest and was not accepted? It happens. There is a lot more than the offer price to determine the best offer.

6) $8,000 (or $6,500) Home Buyer Tax Credit – Lobbyists on the move for ANOTHER extension – I did at least a couple videos last fall before the tax credit was extended saying “don’t do it.” But they did. Now they are talking about doing it again and don’t be surprised if they do extend it one more time, after all, it is an election year.

7) Missing the Forest for the Trees: the RPR License – Rob Hahn takes a close look at the RPR license. You have to give RPR credit, they are making the process completely open and transparent.

8) Why is My Insurance Premium Different from My Neighbors? – A look at some of the factors that can effect your homeowners insurance premium.

9) Mortgage Rates Change Faster Than Freddie Mac Can Report It – We have covered it dozens of times, why you cannot shop for mortgage rates online.

10) Ohio Man Sends Bank a Message Via a Bulldozed Home – You have probably seen the video by now, but just in case you have not… That is going to be an expensive mistake.

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Top 10 real estate posts of the day for 2/22/2010

1) Stated Income Loans: The Unexpected Victims – With stated income loans virtually disappearing, the victims are those who it was initially intended to help.

2) Fair Housing’s One Thing, Common Sense a Close Second – Jonathan makes a good point. We are not allowed to say if we would live in a neighborhood or not, but even if we could, that does not make it a good or bad neighborhood because everyone has different personal taste.

3) The New Normal for Luxury Real Estate Buyers – While the number of luxury homes selling may be down, they are still moving. This post takes a look at how they are buying homes these days. I personally am finding in the luxury home market cash is involved more often than not lately.

4) Required VS Voluntary Sign Ups – Do you require people to sign up on your IDX to view homes? I personally was a believer of allowing free search, after all my Mom told me I needed to keep it open. Then I went to requiring registration. My only question is why didn’t I do it earlier.

5) Smile! You’re Showing Skills Are On Candid Camera. – Interesting discussion, now about video taping the home while being shown. I agree that agent feedback is next to worthless, this would provide much better feedback and give the seller a greater sense of security.

6) Finding a Home Online: The Do’s and Don’ts of Online Real Estate – Some good advice of what to do and what not to do when looking for houses online.

7) Learn to Communicate with Your Clients! – Agents, how do your clients want to hear from you? Do they want email, calls, text, DM’s? Find out what they are doing and make them feel comfortable.

8) Obama Announces $1.5 Billion in Housing Aid – Oh Really? – If throwing $75 billion at a problem does not fix it you can always be creative and try something different, like throwing another $1.5billion at it :-/

9) Can I get proof of a competing offer? – If you are asked to raise your price because there is a higher offer can you get a copy of that offer as proof? Generally not? BUT I have seen it happen where I use an escalator clause and if the escalation is needed then the seller needs to show me proof with page one of the contract that an escalation was needed.

10) Here Comes the Corner – Are You Going To Be Ready? – This brings up some interesting questions, will the housing stimulus programs be extended when later this year. If you would have asked me last fall I would have said no way. Now I am not so sure. After all, remember, it is an election year.

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Top 10 real estate posts of the day for 2/19/2010

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

1) Mortgage Markets Pass The Tipping Point; Mortgage Rates Up For Good? – We have been hearing it for a while, rates are only going up. With an increase in the discount rate is that time now?

2) Day 2: Sonic Drive-In Happy Hour in East Vancouver – This one goes under the “you should be stealing this idea for your blog” category. Don’t take this the wrong way Dale, but this post by itself is not something amazing, and the video is nothing amazing… but the concept for the series? Brilliant. So easy, so informative, such a great idea. I hope you keep it going for 365 days, I am looking forward to watching it develop.

3) Is There a Loan Modification That Will Work? – There are so many factors in loan modifications, but from my experience the answer is with the current system banks are using, no! Tom does a good job writing about it in a lot more detail here.

4) WARNING: You Don’t Want Your Home on the Market Forever! – If you are serious about selling your home do not let this be you. If you are not serious, and only going to sell if you get what you want for it (different than what it is worth) this method is ok, but don’t expect an agent to spend much money and time marketing it.

5) $100 Down payment HUD Home Financing in Phoenix – The 2,000.00 Mistake – Do you have a buyer that is interested in using the $100/down HUD program? If you are in the Phoenix and Tempe area you can almost forget it. Most of these homes are selling over list price, which causes a problem as Christoph points out.

6) RPR MLS License-What RPR can do with data – So I have a sickness, just can’t get enough reading in about the RPR. And I think my opinion on it is starting to change. I can’t wait to get to play with it.

7) What Unique Selling Proposition is a Real Estate Broker or Website Using? – Really this is a challenge, how far out of the box can you go? Who can get outside the box, help the client the most and gain traction doing so?

8) 10 Reasons Why eSignature is the Most Powerful Tool In My Bag! – Yup Docusign rocks! Why are you not using it, that is just mind-blowing.

9) Short Sale Tempe – Bank Of America Equator – I just love watching people rant on BoA short sales process.

10) FHA Flip Rule Video – This is a fairly creative video on the FHA flip rule, nothing new really, but just an interesting way of presenting it.

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Top 10 real estate posts of the day for 2/18/2010

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

1) What Realtors Don’t Know About Mortgage Rates – If you are an agent and have never sat down with a lender to go over rate sheets and how rates work, you really should.

2) The Real Dollars And Cents Cost of Waiting to Buy – Is now really the best time to buy? What would it cost you if you waited?

3) Hey You Pessimists (Yes you, homeowners): It’s Not Quite That Bad… – Interesting, what do these results say for consumer confidence? Not much.

4) Randon Thoughts on Dual Agency – Once again Rob writes a very thought provoking post on a hot issue. I personally am one of the mind it is ok for two agents who work for the same brokerage to represent the clients in the transaction. I know I personally in that situation would have 100% fiduciary responsibility to my side. Rob takes a deep look at brokerages in this situation.

5) Great Real Estate Agent Tim Smith with Tips from the Trenches – Having a hard time finding a house for your buyer because the market is so competitive? Try this one out, great idea from Tom Ferry and one of his star agents Tim Smith.

6) Strategic Mortgage Defaults: Is It a Financial Issue? Is It a Moral Issue? Or Is It Both? – I am pretty sure strategic defaults is one of the hottest trending words in real estate this year.

7) Outsourcing Your Way to Success – Who is spending to much time each day working and not enough time with the family? (Raising my hand). Here is one solution that could help if you can find a way to integrate it into your business.

8) Are You SURE You Want to be a Realtor?!? – Writer Debut – RERockstar is no longer a new agent on the block so Agent Genius has found the next new agent to chronicle the early days.

9) The Law of Unintended Consequences… OneWest, IndyMac and the FDIC – Follow up to the real estate video of the year about IndyMac.

10) Twelve Cards a Day… A Message From Steve Morris – If you don’t ask for the order you are unlikely to get it. Try this easy trick and see if it does not kick start your business.

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Top 10 real estate posts of the day for 2/16/2010

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

1) Why Use a Buyer-Broker Agreement? – Jim takes a look at one of the reasons agents should use buyer-broker agreements. Buyers deserve the same representation as seller’s do.

2) Seattle Real Estate: Good New, Bad News or Accurate News…When it Comes to Real Estate News, Does it Really Matter? – The market is getting better… no the market is getting worse… guess it depends who you ask and what time of day you ask them.

3) 10 Things I Wish They Taught in Real Estate School – This can all be tied back into the RTB discussion. There is a reason something like 90% of all agents are out of the business after 5 years. Sometimes I think NAR is all about just collecting all those new membership dues than really making sure agents are equipped to succeed.

4) Loan Modification Program Isn’t On Track Yet – Every day more and more about how loan modifications are a complete joke. Even in that rare occasion someone gets one approved it usually still ends up being a failure a few months later. At some point we just need to say NEXT.

5) Real Estate Economist Sees Opportunity Until 2014 – Will new construction in real estate really be lower in 2011 and 2012 than it was in 2009?

6) Foursquare and five years ago: Recalling the promise of real estate and social media – Marc takes a look at how far we have come since 2005 and why most agents really fail in their social media strategy, or lack there of.

7) Selling- Dining Room – Any agent who spends a good amount of time showing buyers homes knows it is mostly about the kitchen and master bathroom. But one room that can make a difference that may be neglected is the dining room.

8) Want to Know Why Home Prices Will Continue to Decline? – Isn’t it amazing that the more outside market forces that try to get involved in fixing the problem the longer the process takes?

9) Carnival of Real Estate #175 The Valentine’s Edition – This week’s submissions are now up on Exit Pro.

10) The New 2010 GFE Protects Borrowers from Themselves – The new GFE is now 45 days old and lenders are starting to get used to it. As Steve points out the intentions of the new GFE are honorable, but it is the actual execution I question.

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Top 10 real estate posts of the day for 2/15/2010

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

1) Contract Law: California Court rules on non-refundable deposits – I find this a fascinating read. When I first read it I was blown away, how could a judge just nullify a section of a contract where both parties had agreed to. I left a comment saying so, and the lawyer in the case actually responded to clarify why. I am no lawyer, I am not going to pretend to be one, but this is very interesting none the less.

2) Let’s Take a Big Giant Step BACKWARDS in Real Estate – Jay actually had a post that was in the running for the top 10 from this weekend, they on Sunday night he wrote another one, and it knocked the first one off. If you represent a buyer, and there is a bonus for the buyers agent, should you have to disclose that to your buyer?

3) Filing Requirements for First Time Homebuyer Tax Credit – It is tax season, do you qualify for the first-time home buyer tax credit?

4) Real Estate – Price vs Cost – Good advice that I would bet most buyers and agents do not discuss. There is the price of the house, but what is the cost of the house? How much is that house going to cost you each month/year.

5) Are Principal Reductions the Answer? – YES, the only answer!! And HEFI addresses the question.

6) Credit: Don’t Let it Kill Your Home Ownership Dream! – I like the look he takes here at debt and credit in today’s society. My favorite part though? I am a big believer here… “When surveyed, 75% of the Forbes 400 said the best way to build wealth is to become and stay debt-free.”

7) AG Poll Results – Where You Spend Your Work Day? – Interesting poll, results I probably would have predicted… but they don’t know about the next big thing in real estate work spaces.

8) Buying REO? Keep An Eye On Foreclosures Per Capita. – Distressed homes are 1/3 of all sales? That is going to vary greatly, I know in AZ it is 50%.

9) Questions To Ask A Listing Agent Of A Short Sale – Here are some questions to ask a listing agent on a short sale, I also want them to explain their process to me.

10) Will This Housing Market Mess Get Fixed? – Does more government involvement help or hurt the housing recovery?

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Top 10 real estate posts of the day for 2/12/2010

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

1) Hear why no foreclosure wave will hit – Foreclosures are still coming at a fairly steady level, but hear from Foreclosure Radar why the shadow inventory wave is not coming.

2) What’s Your Silicon Valley Home Worth? Beware Online Home Valuations! – Good explanation that I have to make often to buyers and sellers why those online CMA estimates may not be very accurate.

3) The Interest Rate Spread Between The 15-Year Fixed And 30-Year Fixed Is Huge – Dan shows how the 15-year fixed rate is much better rate wise than a 30-year, but shows why a 30-year may still be a better deal. I personally am a 15-year, no debt guy, but I know I am the rarity.

4) The Bank Won’t Let Me – Dalton hits the nail right on the head with this short post. It is pretty close to the same thing I said 2 days ago, short sales" href="http://deansellsaz.com/2010/02/10/can-the-bank-alter-a-short-sale-contract/">the bank is not a party in the contract!

5) Sellers Should Pay All Closing Costs – This technique works good in an equity sale, but not in a market like we have here in Phoenix that is controlled by short sales and foreclosures. Then there is also the appraisal issues. But that being said Frank still makes a good case.

6) Realtor® Speak 101: Designations and Certifications – Ever wonder what those designations agents love to list on their card mean? Here are the answers. Then there are some of us who believe they are just money making ponzi-schemes more often than not. The fact that you need to pay yearly to use a designation? Give me a break.

7) Government Math – Most of us have probably seen this Indymac video by now. I did a video on this same exact subject about 2 months ago, just my video was not nearly as good or entertaining as this. A must watch for all. EDITORS NOTE: I am going to get a little political on you here… They just barely touch on George Soros. Do you not know who he is? He is the funder of the ultra-liberal group MoveOn.org and spent over $23million alone in 2004 to oppose Republicans. I guess this is his reward.

8) Citigroup to Ease Foreclosure Process – More delaying of the inevitable.

9) Wholesaling Real Estate Step by Step – Want to be a wholesaler? Who doesn’t in today’s foreclosure market. Here is a good 6 step process on how to get started.

10) Is professionalism in real estate overrated? – And the debate continues.

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