Atlanta Real Estate Blog - Joshua Jarvis
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Twitter Just Became Relevant
- When you tweet use key words - Atlanta Real Estate for example- there's a new SEO component to tweeting. I expect less relevant content and more keyword loading.
- Be mindful of who you follow and who follows you - there's a blogroll of sorts - which essentially means that there are links that link to you and who you follow. So if MadCrazyMan is following you, you may get a link on his page, but if you are following him... then guess what you might have a link back to him. Think about a client viewing your twitter account and seeing a link to MadCrazyMan...
- Start using #group functions - so you can be in all the relevant conversations.
- Make sure your TWEETS are content based to maximize them - the now age old adage of bringing value.
- Twitter "Titles" have a huge impact now... what are Twitter Titles? That's another post, but basically it's the first few characters of the tweet. Ex: Twitter /Joshua Javis: This is the title that will get indexed...
- For you twitter pros out there, you might want to take #5 into context and SCRUB your Retweets to be front loaded with the content you want indexed.
- If you are lost, but want to get into tweeting, just bring content and be real, just like any other social media.
- Tools like SocialOomph can help you schedule tweets so that it doesn't feel like spamming the network.
- 97 Homes for sale
- 15 OF THOSE ARE SHORT SALES!
- High $1.1 Million
- Low $209K - WHAT A DEAL!!
- 15 OF THOSE ARE SHORT SALES!
- Average Pending / Under Contract Home for Sale is $317K
- Since June, 28 homes have sold.
- List Price of Homes that sold: $310K On Average
- Sale Price: $295K
- Only 91 Days on Market.
- ONLY 2 SHORT SALES SOLD DURING THIS TIME!
- 17 Homes For Sale - Average Sales Price $318K
- 6 Homes Are Pending/ Under Contract - Average List Price - $273K
- ALL UNDER CONTRACT/ PENDING HOMES ARE RESALES! (GOOD NEWS!)
- 5 Homes have sold since June 1st, only one of them was a new home. (GOOD NEWS!)
- Average SOLD home in Trilogy $273K (Not a coincidence!)
- Highest SOLD price in the neighborhood since 6/1 was listed at $329K and sold for $320K
- Average Price of homes that have failed to sale in Trilogy Park... $338K
- 90 Days Notice will now have to be given before proceeding,
- Tenants with WRITTEN AGREEMENTS will be given the option to stay in the property as long as the lease is not significantly different than current market rent.
- Auction buyers now have to account for renters as part of their investment process, eviction, legal fees or keeping them.
- Auction buyer have to determine fair market value of the rent.
- Negotiations - You might be doing this or outsourcing it, are you collecting the fee for it? Might be best to outsource or at least have it go to someone other than your Broker or personal business.
- Extra Fees - Did you pad the HUD to allow for you to cover HOA, taxes, etc. Now that the deal is approved you want to pocket the extra money. After all you earned it, Short Sales are tough! Now with this case, any fee could be questioned at a later date. (Not suggesting that padding the HUD is right or wrong, just a practice that I have seen)
- God
- Family
- My Client's Family
- Business
- Everyone Else
- God
- Family
- YOUR FAMILY
- Business
- Contact numbers for loss mitigation departments
- Best Practices for Short sales
- Reviews of Negotiation Companies
- Investor Strategies - pros and cons
- Documents Required for a Short Sale and best practices for those
- Lead Generation Techniques
- Real Estate Commission rules apply to all media.
- In Georgia - All Advertisements require the firm's name and telephone number... OH and it's not supposed to be larger than yours... OUCH! Be sure you know what an advertisement is...
- Ad cannot be misleading... Think "TITLES!"
- Can't discriminate - You're probably thinking about color, but you need to be worried about AGE!
- Under supervision of Broker
- Owner's Permission to Advertise - did they approve that you tube video?
- Broker's Name equal or larger in size
- Never post something that your "MAMA" wouldn't approve of.
- Don't post about specific people.
- Pictures of you at the lake may be really "HOT" but might not be the best thing to associate with your Real Estate Profile.
- Don't make enemies.. they could report you for breaking the "RULES."
- Home Owner is Upside Down
- Home Owner contacts bank and finds out they don't care unless they are behind on their mortgage
- Home Owner puts home on the market
- Home Owner has had home on the market for 3 months and decides they might need a short sale agent.
- Agent explains that they need an offer, any offer will do a this point.
- Offer presented is on the verge of being called ridiculous, offer is submitted to the bank.
- Bank takes the offer and evaluates it.
- Time Passes
- More Time Passes
- Bank assigns a negotiator
- Time Passes
- More Time Passes
- Bank orders a BPO
- BPO comes in..... and from here the bank bases all of their decisions to counter or except or reject.
- Land on Active Rain User Page (in my case it was Will Addo)
- Clicked on Duluth, GA
- Clicked on Dacula, GA - POP-UP came to Just Listed!
- Manage My Contacts
- Manage My Lead Flow from "cradle" to "cradle"
- Needs to have automatic plans complete with task management
- Would love for it to integrate with Google Calendars as this one sucks.
- Needs to have notes prominent so I can access my client's information quickly
- Needs to actually care about the customer base (me)
- Listing Management
- Transaction Management
If you asked me on any day before October 21st about Twitter, I would tell you what my opinion was:
"Twitter is a news feed. It's great for news, PR and corporate entities. It's not worth a Real Estate Agent's time to be on there unless they are researching opinions, ect. Interactions are weak, it's like having coffee pot conversations on the net. Pretty useless interactions, good to have your blog automate postings to it."
I stand corrected today. As of October 21st, Google & Bing have decided to INDEX twitter posts!
That doesn't mean you should go and sign up for Twitter without a plan just yet. I wanted to give you a game plan. Twitter just became relevant (to me) but it's still a place where time can be wasted in the bunches!
This Just In! Using the phone can result in talking to someone
On Monday, my real estate office had an event called Callapalooza. We had free food and sponsors put up prizes including a 42" TV. The event was a great success in my mind and there was a buzz in the air. We took some market share by doing this. Let's not get too hung up on the fact that one commission check usually can buy two 42" TVs.
AHA's!
An AHA! is where you are doing something or seeing something and you think "AHA! I've got it." The "AHA" that the agenst got is that the PHONE WORKS (as long as you operate it properly). Several agents found out on Monday after being nearly forced to make phone calls that when you dial the numbers on the phone sometims someone will answer. You can then talk to them about Real Estate and sometimes get business!!!
Out of 20 people we had 98 appointments! Many of those appointsments (mine included) were same day so folks could have been calling all day for more appointments!
What I love is that it shows what Keller Williams is SUPPOSED to be about! 20 competitor helping each other achieve their goals!
Hamilton Mill, Dacula GA Homes For Sale & Value Market Report - SEPT 09
Hamilton Mill in Dacula, GA is still on of the most sought after neighborhoods in Gwinnett County. With 97 Hamilton Mill Homes For Sale, there's a lot to choose from.
There's quite a bit of activity but if you know me, let's just get to the facts....
A few other things is that most of the short sales are listed by agents who haven't closed 1 short sale... ever. In fact, there are numerous listings that are short sales but have incorrect wording putting the agent and home owner at risk!
The deals are outstanding and inventory is moving. This is a great time to move up or move in!
Trilogy Park - Hoschton Home Value Market Update Sept 09
Trilogy Park homes for sale located in Hoschton, GA are on the rise, but the news is good and bad.
Here's the numbers:
AND THE FINAL STAT THAT IS THE MOST EYE OPENING TO ME!
That means, if you want to sell your home in Trilogy Park, you'd better be paying attention.
Join The Trilogy Park Facebook Fan Page & Group!
CDPE - Certifiable Distressed Property Egomaniac
I'm really not sure what goes on in the CDPE (Certified Distressed Property Expert) class. I've heard the class is excellent. So good in fact, that some agents I know are taking it twice. I think that's just great. I really wish I had time to go, however, I'm pretty busy managing 30 or so short sales at time. Those pesky closings get into the way.
In all seriousness, I'm for education and I'm one the biggest proponents of it, considering how there is almost no actual education given to Reatlors coming into the business, let alone something that would discuss the properties that are available in this current market.
My question is why do the people that take this class feel like their ultimate argument on the phone can be ended with "I'm a CDPE!" In fact, let's cover what I have heard from folks just this past week.
Agent: "Are you going to submit my offer directly to the bank?"
ME: "No, I will submit the offer to the owner first."
Agent: "You must submit the offer to the bank!"
ME: "... I'll need to submit it to the owner first."
Agent: "WELL I'M A CDPE AND I KNOW HOW TO DO THESE SHORT SALES!"
Agent: "I'd like to offer $125K"
ME: "The bank approval was for $135K."
Agent: "Just submit the offer to the bank and let's see what we get."
ME: "I'll submit the offer to my seller, who most likely will counter you to $135K since that's what was approved."
Agent: "I'M CDPE!"
Agent: "... what do you think about Bank of America."
ME: "they are slow, hard to deal with, but I prefer them over some others."
Agent: "I avoid them."
ME: "You can refer them to me if you like. I'll send you a referral check in 9 months when we are done." *laughs*
Agent: "I'm CDPE, I can handle them."
Oddly the only thing I can think of when people say those things is the scene from Point Break where Keanu Reeves says, "I'm an FBI agent." My thoughts run from sarcasm to sadness. CDPE is great for getting yourself up to speed on the current properties of the market, but if you haven't closed at least 5 of these, then you really shouldn't be spouting off at anyone.
Foreclosure Record Month For Barrow & Jackson County
Foreclosures in Barrow & Jackson Counties rose in September. Barrow County topped 205 for the month of September making it the third highest month ever. Year to date in Barrow County, there's been 1,595 foreclosure actions. Cities like Winder are noticing the inventory increase.
In Jackson County, the new monthly record is now set at 150 for September. Total foreclosures for the year in Jackson is up to 1,053, already more than all of last year.
There's A Biscuit Under There!
I've been working internet leads for over 7 Years. I can remember starting with HomeGain when sitting in front of computer was about all it took to talk to a live body. Who can forget Advance Access? Their templates are still the same! Whatever works for you, I guess.
A few months back there was a particular agent that came out and said that the "back to basics" message was dead. The "List to Last" mantra was tired. The Millionaire Real Estate Agent Model, Leads, Listings and Leverage... old hat. I wonder what that agent is doing now? Probably doing well ... as a speaker or trainer but I doubt they are selling much real estate.
Let me get back to the topic. Doing internet leads for 7 years gives me a certain degree of comfort on the subject. See you get to talk to eager clients and help them find a home. This is really an awesome concept. Most of the internet buyers I have helped (well over 100) I've had great experiences walking them through the process.
Unfortunately, there's this little thing called conversion ration. See, I had to call and TALK TO about 25 folks for that to pan out into a closing. My numbers may be bad, I'm really a better rambler than I am a salesperson. In any case, out of 100 leads, I might talk to 25 with one closing. Those are loose numbers. What about the closings, on average the internet buyer is 8 months out.
I love these, because my nature is to nurture, but in the industry, these type of leads, while pure gold is called C or D leads (8 to 12 months, will by sometime leads).
I know, I hooked you with the goofy title, but here's the punchline. Internet leads are GRAVY! You can generate a ton of interenet leads for free you just need one thing! LISTINGS! Funny how that works. What are buyers looking for on the internet.... one guess ... LISTINGS. Do you think they care about how many followers you have on Twitter? So are you better off working C and D leads or are you better working the leads that call or email off of specific listings? My stats say the latter.
Oh, and the Biscuit is the Listing! If you price it right, you get one sale. In this market I can generate 5 qualified buyers. If I want internet leads, I just need to market the listings... Funny how that works.
I now have over 30 short sale listings and more buyers than I can handle vs the previous 7 years with 1 to 5 listings and having to call 100 people a day.
I've been doing this so long, in my opinion the wrong way. I can't believe all this time I've been working the gravy when THERE WAS A BISCUIT UNDER THERE THE WHOLE TIME!
Commerical Real Estate in Gwinnett - Ready for the Wild Ride
If you're in Real Estate at all, then you know that the Residential market has nearly bottomed. Don't get me wrong, it'll be there for a few years. Short Sales and foreclosures are here to stay. If you are in Gwinnett County then you know there's been a fun ride of highs and lows in every neighborhood.
Commercial Real Estate is expected to see the same roller coaster, but even more intense in the next few quarters.
Despite a pick up in sales, commercial real estate prices posted a record drop in the second quarter, according to an index developed by the Massachusetts Institute of Technology Center for Real Estate.
With an 18.1 percent drop, the index, which tracks commercial property sold by major institutional investors, is now down 22 percent year-to-date, 32 percent from a year ago and down 39 percent from its mid-2007 peak, according to the report released on Monday.
"The big news this quarter is not just the magnitude of the drop, but the fact that transaction volume actually increased in the presence of this decline, the first volume increase since last summer," David Geltner, director of research at MIT/CRE, said in a statement.
"Perhaps most important, the supply-side index of the prices property owners are willing to sell at plunged a record 18.5 percent, suggesting a degree of 'capitulation' that may help to finally bring market prices to a bottom. The decline in nominal terms is far greater than the 27 percent drop the in the previous major commercial property downturn in the late 1980s and early 1990s.
Adjusting for inflation, both periods are now tied at a 41 percent decline. The downturn in commercial real estate, as marked by the index, also is greater than the collapse in U.S. housing prices, which are off 30 percent, the report said. The 18.1 percent decline was the steepest in the index's 25 year history, far greater than the former record -- a 10.6 percent decline in the fourth quarter of 2008.
Village At Deaton Creek Continues To Be A Destination
Gwinnett Daily Post wrote a small article today about the Squillance family and how more and more people are deciding to make the move to a "active" adult community. While these are popular in Florida there are very few communities like this in the Metro Atlanta area. The most popular community, Village At Deaton Creek, is not only the most popular Active Adult Community, but it's the most popular, best selling community in Georgia, period.
"It was very, very easy for me (to leave)," Squillace said. "It was more difficult for my wife."
So he and his wife Elayne sold their home in the Connemara subdivision in Snellville and moved to Hoschton. There, they settled in The Village At Deaton Creek, a subdivision for senior lifestyles, leaving behind the home in which they resided for more than 20 years and put three kids through Brookwood High School.
Their friends at Connemara threw them a going away party and joked about how far away they were moving. But it's a trek more and more people their age are making. As the population ages - the Atlanta Regional Commission's Lifelong Communities Study says that by 2030, 20 to 23 percent of the metro area's population will be over age 60 - those people are also becoming more active. And moving to places where others are active as well.
Squillace is 66 and says, "I've never been as busy as I am since I retired. It's actually not a joke. People have asked me to do things and I haven't had time."
This is not your father's retirement. Squillace stays busy with projects, trips, children and grandchildren. But he also stays active with bocce, senior tennis, bowling and trivia. Then there's softball. A self-professed softball fanatic, Squillace is not just a player in his league (a pitcher, of course) - he's the commissioner. And the league isn't just some pick-up deal. The teams are sponsored - just like you'd see in little league. "It's great," Squillace said of the softball. "It's people the same age getting out and still having fun. It's done socially as much as competitively. But it is competitive."
New Act Affects Investors & Tenants - Helping Families Save Their Homes Act of 2009
Repost with extras from GaHomesDigest.com
So you are home in Gwinnett County (the leading county for foreclosures in Georgia) from work relaxing watching re-runs of Friends and suddenly your front door is kicked open and a big burly man with a gun comes in, points the gun at you and claims that he's the sheriff. Sound like something out of the show COPS or maybe a move starring Johnny Depp, but no, it's actually becoming a common occurence in homes all over Georgia.
Now S. 896 "Helping Families Save Their Homes Act of 2009" has come out and has some provisions to protect tenants from eviction as a consequence of a foreclosure.
So what's in it for the tenants?
Tenants still have to move out in the case of the new owner wanting to use the home as a personal residence or if there is no written lease agreement. Tenants still can be evicted in the event they violate their written lease agreement.
So fast forward to the first Tuesday of next month.
This new act has the following potential impact on investors:
The difficulty will be getting written lease agreements before the auction date from the people getting foreclosed. ...
I could go on and on, but...
Court Case Could Effect Short Sale Specialists
Recently a court case ruling about Administrative Fees (Busby v. JRHBW Realty, Inc, d/b/a RealtySouth) made me think, "Good for them!" I've never been a proponent of Admin Fees. They are junk fees after all. However, as a short sale specialist, I had to think about this a bit more.
In this case, the plaintiff won a class action law suit against RealtySouth for charging Admin Fees that were legally proven not to have done anything to help in the transaction. Short Sales can feel like the wild west and now some of the extra ways of collecting a full commission are in jeopardy.
Let's look at Section 8 of Respa (since it was used in this court case)
"No person shall give & no person shall accept any portion, split or percentage of any charge made or received fro the rendering of a real estate settlement service in connection with a transaction involving a federally related mortgage loan other than for services actually performed."
While RESPA allows for fees to be paid with cooperative brokers, the plaintiffs in the above case argued that the admin fee charged was not for services actually performed. This got me to thinking about Short Sales. I've got some key areas where there is potential grey area, especially if the seller of a short sale has to take a note back (liability!).
Ultimately, it's better to try to charge a higher (but not exhorbinant) commission % than it is to add fees onto the HUD needlessly.
Luckily, most sellers and buyers are extremely happy when the short sale process is complete, but it does bare paying attention to!
Article over your head? If so, feel free to contact me with referrals! (I LOVE SHORT SALE REFERRALS!) or questions!
Join Us For This Type of Discussion on ShortSalePros!
If Your Call Is After 5:30PM, I'll return it the Next Business Day?
Written in response to How often do you check your e-mail (which didn't seem to have anything to do with e-mail)
WRITTEN TO OTHER AGENTS
I can understand what you are saying and thinking but I've lived on both sides of this.
Real Estate is a business, so I treat it like one. You call any business after their posted hours and they will not be picking up the phone. What do customers do when the don't reach them, move on to the next one. If I lose a customer or client due to my "hours" it's ok. Think about it? If I have someone upset about my posted hours and expectations and they want to violate that, they will do that later on too.
That's what happens in real estate most of the time.
I never could get realtors that weren't 24/7 realtors, until someone asked me: "Is there anything I can do at 6PM that I can't take care of in the AM?" NOPE
So why do I need to take a call from you (the other agent) at 6PM? I have a family I'd rather spend time with, sorry. You're not even 3rd on my list of people I would want to hear from. What could you possibly need that can't wait?
Now that I am one of those "after 5:30" people. It's about living my life and running my business. My business has INCREASED since then.... and you're (figurative) still the same place on my list of people I want to hear from.
Just in case:
Are there times I stray from this, absolutely! If I get an offer, schedule a late appointment, ect, then I'll call or text at least. If you (other agent) followed directions, I will get the offer and be able to respond immediately, if you sent the offer to my Broker. I'll see it when I get there I guess. Too bad.
Life's too short to be at YOUR beck and call. What did your post have to do with e-mail by the way? Am I arrogant? maybe, but my Family comes before my business.
When you run a business that is 24/7 like that, you become a slave to the business. Eventually, something else suffers. So the real question is what is suffering in your life due to all the stress you have when an agent doesn't call you back?
As a side note, what about weekends?
Did you know that it costs Truet Cathy $500 Million Dollars for closing on Sunday? Chick-fil-a is a top a lot of lists as most successful. Truett has Faith, I do too, ... DO YOU?
Are You Living With The Lid On?
Sometimes you hear a message that just changes your perspective so much so that you need to share it with someone. For those that are curious, I am a Christian, and the message of Jesus' Love is definitely worth hearing, but that's not what I am talking about here. I did hear this message as a sermon, but it transcends a good Sunday message, so much so that I felt it was worth blogging about it in an area that Realtors and consumers both could read.
First, some background on my week. I'm working on a big announcement about being a RichLife Advisor. Basically, by aligning myself with the RichLife organization, I'll holding myself to a standard that says that my prorities are:
You'll notice that YOUR Family jumped up to number 3. I've always practiced my business this way, but now I'm just formalizing it.
In addition, my Operating Principal (the owner of my Franchise) handed me a book called, "Noticer" that has helped me look at the bright side of things even when things are down.
So I am pumped up about life and real estate most of time, but it's still a struggle.
Fast forward to Sunday. Our Church, Victory World Church is part of an 1800 Church unification project to have one prayer. This week's message is God is... UNLIMITED. (Those of you who are non-Christians, continue on). There's several things that he went into about how we have dominion over sin and can perform the works of Jesus.
He ended with the story of a young man diagnosed with Polio who could not walk. His Mother would place him in a box and push him around the home. As she kept him with him, they would listen to Christian talk radio. As he grew up he heard messages about faith and overcoming odds and how God heals. He eventually had enough faith and began to rock the box until he fell out. The first few times his Mother would scold him and then put him back into the box. One day his mother left for a quick errand and he was able to rock himself out of the box. He started to climb up some furniture to try and stand while a small voice said, "Keep Going." He was standing up when his Mother walked in, shocked. The man later became a successful business man.
Finally, Pastor Dennis Rouse closed with another story that I think we've all been waiting for.
He brought out a jar of crickets with the lid on. He began to talk about how people act when they drive a convertible. They put the top down and they begin to smile and play music and really enjoy themselves and that is like our life. Most of us in the Real Estate industry are driving around with the top up on a sunny day.
He then showed the crickets again and took the top off of the jar. Not one cricket jumped out. In fact, they not only had learned that there is no escape, but they had learned not to try. In addition, many of the other crickets would pull down the cricket getting to the top of the perch.
That's a lot like small business owners right now. Sure it is tough, sure you will hit your head trying to make it, but the lid isn't always on the jar and you don't have to LIVE like it is.
Is Web 2.0 Real Estate Companies Strategy Backfiring?
If you're reading this than you are on the internet. No doubt you have seen the multitude of real estate websites such as Realtor.com, Trulia, Zillow and others. Although, Realtor.com is "OUR" site they still believe the same thing that all the other sites believe, including Active Rain, and that is, that the information should be available and free and easy for consumers to get a hold of.
Some go further and even suggest that there might not need to be a Realtor, after all, you can get all the data you want on the internet.
I truly love this!
I find it ironic that most of these companies have high "worth" but are struggling to monetize all that data. Why should Realtors pay. It's our time and effort that goes into getting the listing and putting on the MLS so that Zillow and many other can grab it and try to remove us from the picture only to have turn around and pay them for it again.
I have three words for companies that want me to pay for this: L O L
I think it's hilarious, so much so, let's run through it one more time.
"So you are telling me that you have taken my data and generated interest in it and now you want to sell it back to me."
There's not enough money at any of these companies to beat a great agent in the hyper local arena. Sure, I'm going to play the game, my seller's property will definitely be on these sites, I'll answer the questions, I'll link back to my site.
However, they won't be getting money from me until the actually bring real (not stolen or borrowed) value to the table for me or my clients.
Short Sale Pros - Social Networking Site Is UP!
If you do a search for short sales you'll find every overnight guru and million dollar system that you could ever want. Everything from sweaty guys who wear oversized suits to cowboys. One thing you won't find is a resource site for REAL Estate Agents (and others). Even here on Active rain it's just people blogging and copying and pasting the information on their blog.
ShortSalePros - is a website created in the same vein as REOPRO - a site dedicated to the professionals working this market and trying to offer help. I won't be satisfied until you can go to the site and find contact numbers for loss mitigation departments and have the right and useful forms.
The site is built from the easy to use NING site. If you've never seen it, it's like a really nice version of myspace. In any case the content we are looking for is:
So please join, it's free.
Become a Short Sale Pro Free !
Is Your Socializing Going To Cost Your Real Estate License?
I'm sure this issue is far from even scratching the surface. If our NAR thinks that Google is a scraper site (not sure how they even know what a scraper site is, if they think this) then advertising and interacting on social media is going to cause a lot of issues. So while Association's leadership is at Amazon looking for FaceBOOK, let's cover what rules they THINK are good one.
Here's some key pointers on what you need to be mindful of
For Specific Properties
Of course, the rules are just stuff that is written down, unless someone calls you on it.
So what are some real rules when using social media - real meaning, the ones you should actually pay attention to.
Real Money In Real Estate - from Foiling Inflation - Beau Henderson - Fiduciary Capital -
Guest blogger: Beau Henderson, with Fiduciary Capital:
When cash values are insecure, real estate is a smart place to put your money. If you don’t own a home, that’s the perfect place to start. Buy the best house you can afford—and the “afford” part is critical. Particularly when you are buying a home at least partially as an inflation hedge, it might be tempting to invest as much money as possible into your new home, i.e. buy the most expensive house you can manage. However, be sure to take into consideration your income, your debt, your savings and – most importantly – your spending habits. It’s only smart to invest in a house that that will hold or gain value, and foreclosure tends to have a negative effect on that. So, especially during times of layoffs, a good rule of thumb is to make sure you’ve got the financial reserves to keep you afloat in case of a sudden emergency or job loss.
One of the best parts of home ownership is the mortgage tax deduction, which, depending on your tax bracket, can reduce your effective mortgage expenditures by as much as 30 cents on the dollar. Also, if possible, get a fixed rate mortgage. That means that no matter how long you live in the house, if you don’t refinance, your housing expenses will remain the same. And the best part: while housing prices can rise and fall, as they’ve recently demonstrated, housing investments are overwhelmingly stable. Over time—and that’s key, the long term part— the value of houses almost always keeps up with inflation and generally exceeds it, and every mortgage payment you make is like putting money in your savings account.
Of course, buying the right house in the right place is important in making a sound investment. Before going after that house, find yourself a savvy real estate agent and broker who have the knowledge and skills to guide you toward the best possible investment.
Beau Henderson is a certified senior financial planner and a authorize 1031 Intermediary. His office is in Gainesville and he can be reached at 770-540-9142.
With eight years’ experience shaping the financial futures of more than 2,000 clients, Beau Henderson combines an expert knowledge of the industry with an exclusive understanding of the market. And that’s a winning combination for your investment strategy.
A Forsyth County native and graduate of the University of Georgia, Beau majored in finance and psychology. After spending two years as a Regions Bank loan officer, Beau felt drawn to financial planning, a career that would allow him to use his expertise to help his clients toward lifelong financial security and success. A Registered Financial Consultant, Beau is currently Vice President of Financial Planning and Senior Financial Advisor with Fiduciary Capital based in Gainesville, Ga.
Roswell GA Short Sale Video - Videoclix
Awesome model home style Roswell short sale. This home would have sold for the MOST in the neighborhood if the situation was different. Their loss is your gain! Check out this great video technology too!
Short Sale In Powder Springs - New Video Tech Too!
I've been creating videos of my short sales to help dispell the myth that short sales need work. This short sale in Powder Springs is a great example of a home that is move in ready. Also check out the cool video technology!
Chateau Elan Networking Elites 60 Second Spotlight: Byron Barron
Byron Barron with Certapro painters is one of the more dynamic individual at the Chateau Elan Networking Elites BNI group. We meet every Thursday in Hoschton, GA to grow our business and Byron drives all the way from Dahlonega to see us.
Byron's military background no doubt allows him to be, by far, the most trustworthy painter I've ever had the pleasure of using. He and his crew will do what they say they will!
Pulte Homes to acquire Centex
Home builder Pulte Homes Inc. will buy rival Centex Corp. in a $1.3 billion deal.
The deal is made up of a stock-for-stock swap valued at $3.1 billion, including $1.8 billion of net debt.
Bloomfield Hills, Mich.-based Pulte (NYSE: PHM) is metro Atlanta's second-largest home builder, with Dallas-based Centex (NYSE: CTX) ranked at No. 14, according to Atlanta Business Chronicle's 2008-2009 Book of Lists.
Pulte had two of the top-selling communities in 2008 in metro Atlanta -- Village at Deaton Creek and Sun City Peachtree.
"Combining these two industry leaders with proud legacies into one company puts us in an excellent position to navigate through the current housing downturn, poised to accelerate our return to profitability," said Richard J. Dugas Jr., Pulte president and CEO, in a statement. "Centex's significant presence in the entry level and move-up categories is complemented by Pulte's strength in both the move-up and active adult segments, the latter through our popular Del Webb brand."
The combined company will use the Pulte name and be based in Bloomfield Hills, but the firms said a “significant presence” will be maintained in Dallas. Dugas will assume the positions of chairman, president and CEO of the combined company. Current Centex CEO Timothy Eller will join an expanded Pulte board.
This buyout would make the "new" Pulte, the largest builder in the Atlanta area, but that's not saying alot since Centex stopped building spec homes last year.
Don't Be A Hero, Low Ball That BPO! - Response to Ken Harney
In a recent article in the Washington Post, Ken Harney suggests that real estate agents are low balling BPOs to get listings. I won't even address this since the thought of a BPO agent getting a listing from a BPO is pretty silly. There ARE agents who have gotten listings from their BPOs but it was based on how professional and accurate they were and not usually based on them doing something to make the asset manager look like a hero.
In response, Kevin McGrath on Active Rain explains that low ball BPOs are exposed quickly, countering the notion that:
Online, BPOs are hawked to real estate agents as a route to quick profits in a downturn. "This is the easiest and fastest way to make big money in 2009," says one Web site that promises agents "six figures or more" a year. The same site suggests that "bad times put you in the ideal spot" to rack up income by churning out BPOs for lenders.
I'm here to continue the argument. I think low ball BPOs are just what the country needs! In fact, I think that supposed low ball BPOs are saving our economy.
To understand my position, you first have to understand the short sale process and market conditions.
Let's start with the short sale process.
The cliff notes versions is this:
If the BPO comes in too high?
The offer is rejected, the bank forecloses. Through the process the bank loses additional money but here is where the market comes into play. Since this is a declining market, the home is worth LESS than it was when it hit the market now 6 to 9 months ago. The home may be worth 10% less in some cases maybe more.
However, the BPO agent reads the washington post and has decided to be a hero for the community and over evaluated this home. Surely, this will protect home values!
So now the bank is forced to foreclose and assign this to an agent who couldn't be more removed from the active market if they tried. The agent gets the foreclosure on the market with one photo.
Now the bank has to reduce the price in order to sell the home. In most cases, foreclosure will sell for far less than a short sale would have 6 months prior. Why? When price is the only thing selling the home, and the market is declining and dealing with your bank has become more inconvenient than buying from a regular owner, YOU HAVE TO DISCOUNT IT! (pardon the stream of conscientiousness here).
So the next time you do your BPO, don't low ball, give a true MARKET EVALUATION. This is something that appraisers are NOT trained to do. BPOs SHOULD take into account the market. SO in fact a "low ball" BPO might actually be reality, if you take into account HOW LONG the bank takes!
If you would like to contact Ken Harney about how wrong he is, please do at: KenHarney@earthlink.net.
ActiveRain Sending Buyers To "Just Listed?"
Guess it's part of the "Vision" but I just don't see it! It looks like I get a blog (my case it's free), generate traffic and ActiveRain sends them to Reply!.
Not sure I really like this.
I found this through just doing search on google then coming to active rain. Instead of the top agent in Duluth, GA, I found Justlisted.com.
*Clarification*
User "Trail"
I just thought it wasn't cool, I guess AR needs to make money somehow though.
CLARIFICATION.
Clicking on the big yellow area that says "See Listings In These Cities" (which I did by accident) will cause the REPLY! pop-up to occur.
Topproducer Challenge - Real Estate Agent Seeks CRM Change!
I used to be a complainer, but I've changed. Recently, though, I feel like I'm not getting the value for the dollar I'm spending on topproducer. Sure the Market Snapshot tool is very spiffy and people like it and yes the automatic programs and Keller Williams templates are pretty cool as well. However, I've had enough.
I putting a challenge out there to your CRM developers out there, I want to switch from Top Producer, but you haven't made a product that even comes close yet! I'll test it out and put up a review on my blog if you are willing to step up to the plate!
I need it to do the following things while limiting the number of "clicks" and reloads:
I don't need but would like
As soon as someone can come up with a decent competitor to Top Producer, I'm sold. I'm tempted to go back to goldmine right now.
Chateau Elan Networking Elites 60 Second Spotlight: Josh Whitlock
Josh Whitlock is one of the most dynamic people in the Chateau Elan Networking Elites BNI Group (Now on Linkedin) located in Braselton, GA in the Chateau Elan Area. Since joining he's made all of us step up our efforts on making fun presentations that actually get a point across. He's done everything from talk about spider-man underwear to dancing for us... all the while getting his point across that he can make your website stand out - or as he says "We'll make a website that will make you proud, choose the experts at MakeItLoud.
