Sandy McAlpine - Lake Norman Blog

Nine Attributes of an Exceptional Real Estate Agent

Thu, 29 Dec 2011 17:54:37 -0500

Hey! This sounds like ME. What a great blog post. It takes all of these to be a successful agent and to have happy clients in the end!

Via Jennifer Allan-Hagedorn, Author of Sell with Soul (Sell with Soul):

Before Christmas I posted a blog about a show we did in the SWS Virtual Studio called "Are You the Best Real Estate Agent You Know?" In that blog, I described three reasons you might WANT to BE the best agent you know, and promised to continue the conversation with some concrete attributes or characteristics that someone who IS the best agent they know might possess.

So, 'cause I usually keep my promises, below are nine attributes (skills, services and masteries) of what an agent I'd be excited to hire to represent me should bring to the table:

1. Market Mastery - the agent understands the nuances of the local real estate market - at least the segment of it that affects ME!

2. MLS Mastery - the agent is intimately familiar with the MLS and therefore makes pricing recommendations based on data that is complete, relevant and accurate.

3. Contract (and Disclosure) Mastery - the agent understands and can explain each and every provision in the contracts and disclosures I'll be asked to sign, and ensures that I understand how each provision affects me.

4. Pricing Expertise - related to #1, the agent understands the nuances of the specific market area(s) that I'm buying or selling in, and how various features and amenities (or lack thereof) affect the market value of the properties there.

5. Photography Skills (or willingness to hire a photographer) - the agent understands the importance of having great photos online and is willing to invest the time and money to either take great photos him or herself, or hire someone to do it.

6. Basic Understanding of Home Construction, Repair and Local Architecture - while I don't expect my agent to be a licensed contractor, I do expect them to understand basic issues of home construction and repair so they can speak intelligently to me about issues that may arise during our transaction. This knowledge will enhance their credibility with me tremendously.

7. Good Problem-Solving and Negotiating Skills - the agent doesn't fall apart and go all drama-queen (or king) on me when the going gets a little rocky. They stay calm and focused, and tackle the problem head-on. They are skilled, confident negotiators.

8. A Great Team - the agent has a great team. If I need a referral to the best lender, inspector, handyman, house-cleaner, structural contractor, roofer or painter in town, my agent knows who that is and will set me up.

9. Great Systems in Place to Track Transactions - the agent has detailed checklists and follow-ups in place so that things don't slip through the cracks or get forgotten when they get busy or distracted.

So, whatcha' think? Do these sound like the characteristics of an agent you'd hire to take care of your real estate transaction? Any others you'd like to add... or any of these you don't think belong on the list?

If you'd like to participate in a survey I'm doing on the matter, just go here: http://survey.constantcontact.com/survey/a07e5ghv78kgwdi99ia/start and tell us what YOU think!

Search Homes in Lake Norman NC

SEARCH LAKE NORMAN FORECLOSURES

Sandy McAlpine, GRI, ABR, CDPE, SFR Broker,REALTOR Licensed in NC and SC
McAlpine Properties
(704) 746-7513
Lake Norman Homes
Copyright 2008-2011, ALL RIGHTS RESERVED, by the Author - Sandy Aichner McAlpine

I can also assist buyers and sellers in Short Sales and Foreclosure sales and purchases.

Please call me If you have interest in purchasing or selling a home in Mooresville, Cornelius, Huntersville, Troutman, Denver, Sherrill's Ford, Catawba, Davidson, or Statesville, North Carolina!

Lessons Learned From 2011. By Dan Polimino.

Thu, 29 Dec 2011 12:15:59 -0500

You have to just LOVE Dan for posting this. I couldn't agree with #4 and #5 even MORE! How I have learned those lessons every year, over and over again. Oh, and LOVE number 6 and wish it happened more often! I call that a "freebie".

Via Daniel Polimino (Fuller Towne and Country Properties):

Here we are at the end of the year. It’s always a good time to sit back and reflect on the past year. I also like to make a quick list of the lessons I have learned over the last year in Real Estate. Here are a few of the most notable.

1. I learned that the days are long, but the years are short. I spent a fair amount of time wishing days away in 2011. Then I look back and it seems that the years have just flown by. I am trying not to make that same mistake in 2012.

2. I learned at 43 to listen more and speak less. This one lesson has served me better than anything else.

3. I learned that there is no harm in asking. Just when you think there is no way a buyer or seller will move one more penny…they do. So I tell my clients, ”What is the harm in asking since all they can say is ’no’?”

4. I learned that you could have the best data in the world and most convincing argument, and at the end of the day the real estate transaction boils down to one thing. What is a seller willing to sell for and what is a buyer willing to pay?

5. I learned that just when you think you have encountered the most difficult buyer or seller, you are wrong. There is one more difficult just around the corner.

6. I learned that every once in a while, you are given a gift. Like a buyer that calls you up, looks at one property, makes an offer and closes with no conflicts or difficulty. Cherish these transactions.

7. I learned that there is no amount of convincing or sense that you can impart to Banks and Investors. Even when the data is all in your favor, Banks/Investors do not have to sell properties at fair market value because they are flush with cash and have lots of options.

8. I learned to take Sundays off (yes, even in the real estate business) so I can have some type of family life. I recommend this to all of my real estate brethren. I can honestly tell you that by taking Sundays off, my business did not decrease one penny. In fact, it got better.

9. I learned to smile more and laugh more in what is a pressure cooker of a business. If you don’t, you’ll soon find yourself on ulcer medication.

10. I learned that you have to give something to get something.

Happy New Year

Dan Polimino

Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost

Click here to Get started searching for YOUR Colorado Dream Home.

Search Homes in Lake Norman NC

SEARCH LAKE NORMAN FORECLOSURES

I can also assist buyers and sellers in Short Sales and Foreclosure sales and purchases.

Please call me If you have interest in purchasing or selling a home in Mooresville, Cornelius, Huntersville, Troutman, Denver, Sherrill's Ford, Catawba, Davidson, or Statesville, North Carolina!

2011 Lessons learned

Thu, 29 Dec 2011 12:10:19 -0500

This is a reblog from Dave Francis at Shannon Escrow. He really pointed out a lot of great things we should be thankful for and learn from, going into the New Year! Let's all LEARN some lessons and not get too stressed out!

Via Dave Francis (Shannon Escrow, Inc.):

2011 was not my favorite year to date, but I learned some valuable life lessons along the way. Thought I would share them with you:

Always take care of your mental and physical health first. Without it, you cannot progress at all...

speak loudly and clearly in a group. This will help establish you as a leader, and show you have the authority to speak on your subject matter.

I need something, I cant find it. Case in point, I am trying a refinance right now, and had no clue where my 2009-2010 tax forms were, along with pay stubs, and just about everything else my broker asked for. It was awful.

Do not forget to laugh. A couple of months ago, business was bad, I was broke, thinking of a sick parent, etc, when I realized my jaw hurt so bad I could barely sleep anymore. It was from clenching my teeth. I pulled out a few funny films, and was soon laughing again, releasing all of the pressure I let build up inside.

Visit your doctor at least once a year, even if you feel fine. I wont go into details here, but both my wife and I are so very glad we did.

Life is short, say 77 or 80 useful years.....so get out and enjoy some of it.

Do not always believe blindly what you might see or hear. It is always good to check your facts from at least three sources.

learn something new every single day (Sundays Included) This will keep your mind sharp, and allow you more opportunity to engage others in conversation

Try not to be prejudiced or judge others in any way. Those three fingers point right back to you.

Do not text or use the phone for any reason while driving. I had a few close calls this year, and it made me realize that I cannot possibly be a safe driver while texting under any circumstances.

Say I love you to the ones you really do love in your life. You never know when you will be stricken down, or lose a loved one....at any time.

Remember "curb appeal" is not only good in selling a home, but in keeping your entire neighborhood from getting sloppy and messed up. The best instant gratification I got this year was cleaning, and keeping up my front yard.

Try not to be afraid of things you cannot control. Earthquakes, windstorms, home invasion robbery are but just a few that pop into my head from time to time. I just learn that these are things I cannot control, even though I can minimize my exposure risks to these bad things.

Try to do a random act of kindness as often as you can. You might be surprised at how good it makes you feel, and how much better the world would be if we all did it.

Try to stay organized. I am the worst at this, and then when It brings your life into balance, refocuses attention on your wants and needs, and is an all around good thing to do.

Lastly, make a conscious effort to greet everyone you see. A smile, or a hello on the elevator might just bring you unheard of surprise. It makes others feel good too.....this was my most valuable life asset in 2011.

HAPPY NEW YEAR ALL! I REALLY WISH YOU ALL THE VERY BEST FOR 2012!

Dave Francis

General Manager

Shannon Escrow, Inc.

Search Homes in Lake Norman NC

SEARCH LAKE NORMAN FORECLOSURES

I can also assist buyers and sellers in Short Sales and Foreclosure sales and purchases.

Please call me If you have interest in purchasing or selling a home in Mooresville, Cornelius, Huntersville, Troutman, Denver, Sherrill's Ford, Catawba, Davidson, or Statesville, North Carolina!

Eye Candy - Top 20 Home Inspection Photos from 2011

Thu, 29 Dec 2011 11:45:14 -0500

It's really incredible what lengths some home owners will do to "patch" something up quickly. A lot of these are older homes. Don't let this happen to you! Hire a contractor!

Via Minneapolis Home Inspections - Reuben Saltzman (Structure Tech Home Inspections):

I post a new home inspection photo on the Structure Tech Facebook page six days a week, and this year I decided to put together a blog post showing my favorite photos from 2011. I hope you enjoy these half as much as I do. As with all of my blog posts, click on any of these photos for a larger version.

Ice Dams - Remember ice dams? They were nasty last winter. I'm enjoying winter in Minnesota much more this year; what have we received so far, two inches of snow?

Ice Dam-age Control - This is the only photo we didn't take (thanks DKW3). This was someone's solution to chronic water intrusion from ice dam leakage.

Hack Ice Dam Removal - We've said many times that pressure washers should never be used to remove ice dams, because they tear up shingles.

Hot Roof? Cold Roof? Not Sure. - Attics are supposed to be treated as warm spaces or cold spaces. Someone obviously didn't understand the point.

Hockey Puck Fascia Repair - Hole in your fascia? No problem! Just use a bunch of caulk and a hockey puck to fix it.

Rotted Roof Decking - The roof decking was in horrible condition at this house, but that didn't stop the roofers; they installed a new roof covering right over the top. That black stuff is the ice & water shield.

Bad Shingle Repair - No explanation needed.

Bad Chimney Crown - We could tell this chimney crown needed repair just by looking at it from the ground, but we had no idea it would be this bad. This chimney crown obviously needs to be completely replaced.

Chimney with Facade Falling Apart - Three sides of this chimney looked just fine from a distance.

One Angry Bird Away... - As I was typing up the insection report for this house, my wife saw this photo on the computer screen and said "Wow, that chimney looks like it's about one angry bird away from collapse." Good call.

Downspout Combustion Air Intake - That downspout connecting to the return air duct fed to the exterior of the home and was being used as the combustion air intake. It's not conventional and it's probably a little small, but hey, it works.

Central Air-ish - This was someone's attempt at cooling a room where the AC unit wasn't installed.

Creative Heat Register - Interesting solution.

Heat Register in Cabinet - While most people would have had to decide between a heat register and a cabinet here, this homeowner decided to have their cake and eat it too. Can you guess what city this house was in?

Hint: Look up "cake-eater" at urbandictionary.com.

Garbage Can Sump Basket - Sump baskets are reinforced on the sides to prevent them from collapsing. Plastic refuse containers are not.

Mouse in Panel - Any unused openings in electric panels are supposed to be covered over, not only to contain any potential fire or sparking that could occur inside the panel, but also to prevent unwanted visitors from coming in.

Covered Outlet - No explanation needed.

Missing Fuses - Apparently someone was tired of replacing those pesky fuses, so they replaced the fuses with a couple short lengths of copper tubing. Can you say fire hazard?

Mirror Tile on Kitchen Floor - This might be the most interesting tiled floor we've come across.

Useless Shower Fan - Someone went to a lot of effort to install this bath fan above the shower, but without a duct... what's the point? I can only scratch my head.

Water Behind Escutcheon - My personal favorite. I noticed water leaking out from behind the escutcheon, which is that decorative metal trim ring around the pipe sticking out of wall. I turned the water off, pulled the escutcheon away, got my camera ready, turned the water back on... click.

Ok, that was twenty-one photos. Close enough. If you enjoy these kinds of photos, please click "Like" on our Facebook page. Thanks!

Reuben Saltzman, Structure Tech Home Inspections - Email - Minneapolis Home Inspector

Search Homes in Lake Norman NC

SEARCH LAKE NORMAN FORECLOSURES

I can also assist buyers and sellers in Short Sales and Foreclosure sales and purchases.

Please call me If you have interest in purchasing or selling a home in Mooresville, Cornelius, Huntersville, Troutman, Denver, Sherrill's Ford, Catawba, Davidson, or Statesville, North Carolina!

Are Real Estate Agents Going the Way of Borders?

Mon, 28 Nov 2011 14:24:50 -0500

Wow, This story really hit home because I have had this discussion with at least 4 close friends and family. How is all this online shopping going to affect my career in real estate and with buyers? So far, buyers and sellers are more Internet Savvy, but they still need help with the process of marketing their home, contract to close items, finding an attorney, and just having an unbiased, neutral party involved.

Via Karen Rittenhouse (All Property Solutions.com):

I just finished reading "What do Realtors and Bookstore People Have in Common?" and it got me thinking..

The comparison was - basically - a Realtor adds value compared to shopping for a home online the same way a brick and mortar bookstore adds value over buying from Amazon. (my apologies to the author for my very brief synopsis)

Borders Bookstore was a huge chain, in many countries, and they went under. In fact, how many bookstores do you remember? Barnes and Noble is about the only brick and mortar left - other than used bookstores.

Are real estate agents going the same way?

Yes, I love going into bookstores, sitting with a cup of coffee and browsing books and magazines. However, when I'm ready to buy, Amazon is my preferred online resource. Quick, convenient and usually less expensive.

And, like it or not, the cyber phenom is here to stay. New generations text while sitting in the same room rather than having a conversation. Really, conversation is what you have to offer them?

My son, of the cyber generation, found a condo in San Diego, while sitting here in North Carolina, on Craigslist. He and his wife later found an apartment in Wisconsin (while sitting here in North Carolina) on Craigslist. A year later, when they bought a home, do you think they sought out a real estate agent? That was a completely foreign concept. They went online, immediately pulled up properties in their areas of interest (no one needed to show them how), and ended up with a great deal on a great property from a for-sale-by-owner.

Are you online where searchers will find you - Facebook, Twitter, et al? If you're waiting for buyers to search for Realtors or Real Estate Agents, you're dead. That's not where they're looking and they have their own cars so they don't need you to drive them around.

Many agents are upset by it, many are offended, many try to justify that the way things have always been done are the way things should be done.

Well, things are not as they were and they continue to morph at lightening speed. Real estate agents must change or they are destined to go the way of the dinosaur - and Borders. What are you doing to survive?

Karen Rittenhouse | www.karensperspective.com | 336-834-0614 | karen@karensperspective.com

Search Homes in Lake Norman NC

SEARCH LAKE NORMAN FORECLOSURES

I can also assist buyers and sellers in Short Sales and Foreclosure sales and purchases.

Please call me If you have interest in purchasing or selling a home in Mooresville, Cornelius, Huntersville, Troutman, Denver, Sherrill's Ford, Catawba, Davidson, or Statesville, North Carolina!

Earn your commission. Don’t defend it.

Mon, 28 Nov 2011 14:21:40 -0500

I have come into this situation a few times in the last few years and I do totally agree that there are other solutions that have to do with the buyer and seller (the two parties to the contract) that have nothing to do with the commissions earned by any of the servicers.

Via Bryant Tutas-Tutas Towne Realty, Inc:

How do you react when a Seller or Buyer asks you to give them a portion of your commission? Do you immediately get defensive? Do you start explaining how your commission is split and how many expenses you have as a licensed Real Estate agent?

I recently read an article on ActiveRain about a Seller asking their agent to make up the difference between the contract price and a low appraisal. The article had over 350 comments and all but a very small handful were blasting the Seller for having the nerve to ask such a thing. The comments went from just saying “No” to outlining exactly how we get paid and what we spend the money on.

Why not offer solutions to their problem instead? "Problem? What the heck are you talking about Broker Bryant? The only problem they have is that they are cheap and they expect me to work for nothing. They don’t value what I do!!"

Do you believe that? I don’t.

I believe they DO have a problem and they are looking to their agent for a solution.

The Seller, in the article I linked to, had a problem. Her problem was that the appraisal came in too low and she was getting ready to lose the sale over it. Her gut reaction was to use a portion of the commission to bridge the gap. Her agent, instead of offering her solutions, immediately became defensive. Fortunately she slept on it and didn’t send the nasty email she wrote to her client.

My suggestion was to offer the Seller solutions. There are actually several available when an appraisal comes in too low.

The Buyer can just move forward at the agreed upon price. Unless the contract is contingent upon a satisfactory appraisal the appraisal is really nothing more than an “FYI” event.

The appraisal can be disputed.

The Seller can come down on price.

The Buyer and Seller can split the difference.

The Seller can just place the property back on the market.

So....instead of getting defensive about your commission why not just let the Seller know of the possible solutions? My guess is that if you handled it this way the Seller would completely get off your commission and get on to solving the problem. Don’t you think?

Earn your commission. Don’t defend it.

Are you under water on your Florida mortgage?

Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.

Want to find out more? www.CentralFloridaShortSales.com

***I am NOT an Attorney nor do I play one on TV. Click the button below for my Bio.

Copyright © 2011 http://www.brokerbryant.com/ | All Rights Reserved

Customer Testimonials

Tutas Towne Realty has already successfully negotiated Short Sales with the following Lenders and Investors.

Chase Short Sale,Sun Trust Short Sale, GMAC Short Sale, Wells Fargo Short Sale,Bank of America Short Sale,USA Bank Short Sale,PNC Bank Short Sale,Citi Short Sale,HomeEq Short Sale,Fifth Third Bank Short Sale,ING Direct Short Sale,GreenTree Short Sale,Capital One Short Sale,ASC Short Sale,First Horizon Short Sale,E-Trade Short Sale,Transland Financial Short Sale,US Bank Short Sale,IBM LBPS Short Sale,
Nationstar Short Sale,BAC Florida Short Sale,Real Time Solutions Short Sale,Fannie Mae Short Sale
FHA Short Sale,Selene Finance Short Sale,DTA Solutions LLC Short sale,Flagstar Short Sale,IndyMac Short Sale

******************************************************************
Tutas Towne Realty, Inc handles Florida real estate sales, Florida short sales, Florida strategic short sales, Florida pre-foreclosure sales, Florida foreclosures in Kissimmee Florida Short Sales, Davenport Florida Short Sales, Haines City Florida Short Sales, Poinciana Florida Short Sales, Solivita Florida Short Sales, Orlando Florida Short Sales, Celebration Florida Short Sales, Winderemere Florida Short Sales. Serving all of Polk, Osceola and Orange Counties Florida. Florida Short Sale Broker. Short Sale Florida.

Search Homes in Lake Norman NC

SEARCH LAKE NORMAN FORECLOSURES

I can also assist buyers and sellers in Short Sales and Foreclosure sales and purchases.

Please call me If you have interest in purchasing or selling a home in Mooresville, Cornelius, Huntersville, Troutman, Denver, Sherrill's Ford, Catawba, Davidson, or Statesville, North Carolina!

Five Warning Signs Your Purchase Offer May Be Headed For Trouble

Thu, 13 Oct 2011 12:50:20 -0400

I had to reblog this because Liz is right on so many levels! I'm tired of poorly written offers (by broker owners no less!). I'm tired of getting the car saleman-like pitch about the market conditions before the offer is sent over, and I'm tired of the lack of pre-approval letters I am seeing. What is the world coming to?

Via Liz and Bill Spear RE/MAX Elite Warren County Ohio: Cincinnati to Dayton (513.265.3004 www.LizTour.com):

Five Warning Signs Your Purchase Offer May Be Headed For Trouble

Yeah!!! We finally got that purchase offer on your home! We've been working for this for months, BUT......

There may be some trouble getting these buyers all the way to an accepted agreement! Why do we say that? There are some warning signs right off the bat or early on during negotiations that are typical of trouble brewing. Now we're not saying Last Rites on this offer, and we'll give it everything we've got to get this deal to the closing table for you, but here's some early warning signs of potential trouble:

The buyer's agent casually mentions that your offer is the FIFTH that the buyers have written. We're sorry, but this is either code for "give us exactly what we want or we'll tell you where the sellers can stick it", OR the buyers are VERY prone to cold feet, OR they don't care about the home, just getting a STEAL! In any case, this doesn't create warm, fuzzy feelings does it?

The buyer's agent keeps saying "You know it's a buyer's market" when sending over an offer WELL below current market value AND asking for everything that's not nailed down. Especially true when we've established that your neighborhood is heading up quickly. If the agent doesn't recognize the market, chances are neither will the buyers. They'll all be swearing you're grossly overpriced....and then see a few weeks later you got your price.

The contract is incomplete. Sections aren't filled in, disclosures aren't included, no copy of the earnest money check. Nothing against the buyers, but this is a bad sign that their agent might not be the most competent out there. Negotiations can be tough enough without having to worry about whether or not the other side has a clue about how it's done.

Their response to your counter is almost identical to their first offer. Now they may still come up to something that will work, but typically this indicates they're feeling good about their number and not likely to come up much.

Their preapproval letter, or the lack of one. No preapproval letter at all? Pot luck at this point. Maybe they can qualify, maybe not. Another hazardous sign? None of us have ever heard of the bank granting the preapproval letter. Again, it may be no big deal, but those preapproval letters that end in ".com" don't always bode well. Always good to be able to stand in someone's office when there's a problem that needs resolved.

Now there are some factors here we can mitigate, others we can't. You can trust if there's something that we COULD do, we'll do it. And if this offer can't be saved? You can bet we're marketing to the fullest to get you another offer!

Serving Warren County's residential real estate needs,

Liz and Bill aka BLiz

The Liz Spear Team
Elizabeth & William Spear
RE/MAX Elite: Ask for us by name if you visit the office!
Two locations: Lebanon & Mason, OH
Office direct: 513-248-3660 Liz direct: 513-265-3004
Bill direct: 513-520-5305 Fax: 866-302-8418

MailTo: Liz@LizSpear.com Visit: http://www.LizTour.com

Buttons created at www.ButtonGenerator.com

Follow us on Social Media:

Social Media buttons courtesy of http://www.chethstudios.net

OUR SERVICE AREA:

Search Homes in Lake Norman NC

SEARCH LAKE NORMAN FORECLOSURES

I can also assist buyers and sellers in Short Sales and Foreclosure sales and purchases.

Please call me If you have interest in purchasing or selling a home in Mooresville, Cornelius, Huntersville, Troutman, Denver, Sherrill's Ford, Catawba, Davidson, or Statesville, North Carolina!

Three Lessons from the Housing Bubble

Thu, 13 Oct 2011 09:45:17 -0400

Even though buying a home is still inexpensive, I am seeing a trend in renting because of the lack of consumer confidence in the economy and talk about a "double-dip" in the market. I still feel as though we are on the way to recovery, but that it will be a long, slow, uphill battle to appreciation again. Check out these lessons and the cool rent vs. buy calculator!

Via Dave Roberts (Healdsburg Sotheby's International Realty):

Houses are great investments! They always go up in value!

Ever hear that before? Maybe in 2004 or 2005? Real estate agents may have been collectively insane, asleep at the wheel, or just oblivious to the reality of housing values, but the run-up in prices known as the housing bubble took almost everyone in the real estate industry by surprise. Plenty of my colleagues were busy upgrading to larger homes, taking out bigger mortgages, and betting on the inevitable rise in the market. Oops.

In hindsight, there are plenty of clues to indicate we should have understood the nature of the bubble. In hindsight, we all see signs that we should have listened to. However, the understanding that we made serious mistakes will only be useful to us if we learn some fundamental lessons that we can share with buyers today.

Housing Bubble Lessons for Today's Buyers

There is a long term trend in housing value that can't be ignored.

The long term trend in housing value is one of the most important principles to understand about real estate. For well over a hundred years, the appreciation in the housing market has hovered around 1% above the rate of inflation. Individual markets have gone up and down, up and down again, but the long term trend is a steady, slow appreciation over decades. Any careful observer of the housing market in the mid 2000's who understood the long term trends should have been able to predict the bubble. It's very easy to see on this useful chart (data updated to early 2011. Click on the chart to go to the original site and larger graphic).

Housing prices are not independent from the rental market.

Every potential home buyer has the option to rent. If buying a house is significantly more expensive than the cost of renting, more people will want to rent, driving up demand for rental housing. Investors want a return on their invested capital, so rents will reflect the cost of buying the house, paying property tax, carrying insurance, allowing for vacancies, etc. Historic ratios between rents and the cost of owning a house will find a new balance reflecting today's market. If you start to see a disconnect between housing values and rents, something is wrong. Check out this great Rent vs. Buy Calculator from the New York Times to check on whether renting or buying makes the most sense for you.

Housing affordability matters.

In late 2006 and 2007, the California Affordability Index for Sonoma County was 9. That meant than 9% of households could afford to buy the median priced home. Today the index stands at 46. You could call it a healthy balance when nearly half of households can afford the median priced home.

Buyers sitting on the sidelines need to understand that giant mistakes in perception were made during the housing bubble by tens of thousand of professional real estate agents. We were caught up in the hype of a rising market and the easy (too easy) availability of credit. Wall Street threw so much money at the market with liar loans, no doc loans, zero down financing, and other crappy products that it's no wonder that the market was flooded with excess demand and rising prices. Still, if we had looked at the fundamentals we would have understood we were in a bubble.

We may make mistakes in the future when we recommend a purchase or try to determine a trend, but the three lessons I outlined are going to help keep us in tune with the longer rhythms of the market. What I see now is a tentative housing market with pent up demand by buyers, an excess REO inventory held by the banks, and a still large group of underwater homeowners. Prices seem much more realistic, but as the chart at the top shows, it's possible there may still be some market corrections ahead of us. Use the rent vs. buy calculator to see if buying, even with declining or soft prices, makes sense for your situation.

In some respects it's a new world, but in the most fundamental sense, we are back to real estate as usual.

Please enjoy visiting any of my sites

Sonoma County Blog

Search for Property in Sonoma County - Maps

Search for Property in Sonoma County - Advanced

REO property in Sonoma County

Search Homes in Lake Norman NC

SEARCH LAKE NORMAN FORECLOSURES

I can also assist buyers and sellers in Short Sales and Foreclosure sales and purchases.

Please call me If you have interest in purchasing or selling a home in Mooresville, Cornelius, Huntersville, Troutman, Denver, Sherrill's Ford, Catawba, Davidson, or Statesville, North Carolina!

Home Owner Associations and Short Sales

Mon, 10 Oct 2011 19:54:19 -0400

What great advice! I have seen some HOA liens filed for foreclosure on properties in my area too. It's unbelievable that there aren't rules to keep this from happening.

Via Steve Wilde (Wilde Law Firm, PLLC):

If you have not had to negotiate with a Home Owner Association (HOA) regarding past HOA dues in order to get a short sale closed, well you haven’t lived. It is, seriously, one of the more frustrating tasks that we have to handle. It seems that more than half of the HOAs have some hard and fast stance on not accepting anything but a full payoff of the past due amount. I have had a situation where we were racing to get a short sale approved in time to beat the foreclosure sale. We got it approved but had to deal with the HOA in order to close. In that case the HOA would not budge on their $12,000 HOA past due amount…even when we offered them $9,000. The property went to foreclosure and the HOA lien was wiped out so the HOA ended up with $0.

I have also seen a drastic increase in HOA’s filing foreclosure actions. I scratched my head at first trying to figure that one out. North Carolina is not a Super Lien State. In a Super Lien State the HOA’s lien jumps ahead of the mortgage in a foreclosure so they are always paid in full. In North Carolina the HOA lien falls in line behind the mortgages/deeds of trust and always gets extinguished in the foreclosure. So why foreclosure? As you may have noticed, the banks are not rushing to foreclosure for various reasons. We are seeing banks taking a year or more to even begin the foreclosure process. This means that the HOA can take title to the property, rent it and continue ignoring the mortgage(s). When the bank finally forecloses and title is transferred to bank, the HOA may have pocketed enough rent to catch up on the HOA dues and then some. This is either smart or fraud.

The bottom line is: Pay your HOA dues even if you have stopped paying the mortgage. The bank seems to have wised up and decided that a homeowner living in the property, not paying the mortgage and keeping the lawn mowed and the AC on is better than an empty neglected house. In that situation the homeowner is enjoying the use of the property so they should at least pay the HOA dues. By not paying them their fellow neighbors are the ones getting hurt and not the bank. Additionally, by not paying them you may be precluding a short sale if you don’t have the cash to catch the HOA dues up completely at closing.

Search Homes in Lake Norman NC

SEARCH LAKE NORMAN FORECLOSURES

I can also assist buyers and sellers in Short Sales and Foreclosure sales and purchases.

Please call me If you have interest in purchasing or selling a home in Mooresville, Cornelius, Huntersville, Troutman, Denver, Sherrill's Ford, Catawba, Davidson, or Statesville, North Carolina!

Homeowner’s Insurance – When Was the Last Time You Checked Your Coverage?

Mon, 10 Oct 2011 19:09:00 -0400

This is one of those items that most people don't shop for or remember what they have. It is a good idea to know what you have in case something does happen. Recently, people in flood ridden states realized that they did not have flood insurance and lost everything.

Via Barbara Altieri, REALTOR® Fairfield County CT Real Estate (RealtyQuest, CT Homes for Sale and Real Estate):

Homeowner’s Insurance – When Was the Last Time You Checked Your Coverage?

Back in August, many of us in CT got slammed by Hurricane Irene. Houses floated away at the shore, others took serious hits from fallen trees, flooding was pervasive, and trees toppled like matchsticks.

My property was the victim of multiple fallen trees – down on the ground – on top of each other – resting precariously on power lines – across my driveway – and arranged like pick-up-sticks against each other. My yard looked like a war zone. People drove by, stopped in front of my house, and took pictures.

So, the cleanup began. The insurance company was called. All in all, our house did not sustain damage (which is just incredible). However, it made us pay a little more attention to our homeowners insurance to be sure we were adequately covered for these random weather occurrences.

Many homeowners select a policy, pay each year, and don’t bother to check it frequently to make sure they have the right coverage. I have found that some new home buyers just purchase the cheapest they can get to satisfy the lender requirement.

Having adequate homeowners insurance is an important part of home ownership and protecting your investment.

Here are some things to look out for based on personal experience:

Dwelling/Structure – This covers the main building structure, roof, walls, windows, doors, etc. Your house should be insured for the cost to rebuild/replace in case it is destroyed. Don’t overinsure by insuring your home for market value. Insure the house, garage, shed, etc. NOT the land.

Personal Property – Clothing, computers, furniture, etc. Cover your contents for replacement cost not cash value, especially with electronics. You may need a special rider and will have to provide appraisals for items like expensive jewelry and artwork.

Liability and Lawsuit Protection – Homeowners insurance typically covers you if someone gets injured on your property. However, the standard coverage man not be enough. You may have to consider an umbrella policy to increase liability coverage if your net worth is higher than average.

What about deductibles? This is the out-of-pocket cost you pay when a claim is made. The lower the deductible, the higher your insurance premium will be.

How about those hurricanes, forest fires, earthquakes, lightning strikes, floods and any other similar peril? Standard policies may not cover damage from these occurrences.

Be proactive. Read your policy and talk to your insurance professional to make sure you are adequately protected against risk and potential financial disruptions.

Make sure you have the right type of insurance in place and review it annually.

Prepare yourself because once you have a loss and find you are underinsured, it is DEFINITELY too late.

Better safe than sorry!

Homeowner’s Insurance – When Was the Last Time You Checked Your Coverage?

Barbara Altieri, REALTOR
Listing and Buyer's Agent
Certified Short Sales Specialist
RealtyQuest Real Estate Sales and Services
203.656.4993 x29
Email
RealtyQuest Website
RealtyQuest Rentals Website
Facebook Business Page
Twitter
LinkedIn
SheltonBuzz - Facebook Community Page

Search Homes in Lake Norman NC

SEARCH LAKE NORMAN FORECLOSURES

I can also assist buyers and sellers in Short Sales and Foreclosure sales and purchases.

Please call me If you have interest in purchasing or selling a home in Mooresville, Cornelius, Huntersville, Troutman, Denver, Sherrill's Ford, Catawba, Davidson, or Statesville, North Carolina!

I Don’t Have To Sell. By Dan Polimino.

Mon, 10 Oct 2011 19:05:34 -0400

I don't know how many listing appointments in the past year that I had to tell this to a seller. It's just so insane to have to go to a presentation and have someone tell me that they "don't have to sell". Ugh

Via Daniel Polimino (Fuller Towne and Country Properties):

Many times, I would go on a listing appointment to talk with a potential seller and they would tell at the end of the presentation, “Well, I really don’t have to sell!” Which then prompts my response of, “So why are you putting your home on the market?” After all, selling a home and keeping it in constant show-ready condition is not a lot of fun and usually requires a lot of work and patience. The sellers go on to say, “If I can get my price, I would sell the home.” If you want me to translate this last sentence for you, I will. It means the following from the seller: “I am going to ignore good data about the price of my home, overprice it, and let it sit on the market until I get what I want for it.” That is a recipe for disaster for everyone involved.

When I represent buyers and I submit offers to the listing agents, I often hear from the listing agent that the seller did not accept the offer. I go on to discuss with the listing agent why we think it’s a fair offer. Then lo and behold, the famous sentence comes out, “Well, my sellers really don’t have to sell.” I then say to the agent, “Well, maybe they should take their home off the market.”

You see, the days of some fairy tale buyer walking off the street and overpaying for a home stopped about five years ago. Buyers know exactly what a home is worth and in some cases, put in fair offers. Sellers cannot fall back on the old “I don’t have to sell” excuse anymore because that market does not exist. If a seller really doesn’t have to sell, they should not have their home listed. By overpricing the home, it ensures that it will sit and accumulate days on the market which hurts the seller and the marketability of the home. The listing agent will be frustrated because they can’t sell it, and buying agents will stop showing it because they’ll realize that the seller will not look at a reasonable offer. The end result may be a seller chasing down the market and being forced to do a series of price drops or take the home off the market. In either case, it ends up being an exercise in futility for everyone involved.

Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost

Click here to Get started searching for YOUR Colorado Dream Home.

Search Homes in Lake Norman NC

SEARCH LAKE NORMAN FORECLOSURES

I can also assist buyers and sellers in Short Sales and Foreclosure sales and purchases.

Please call me If you have interest in purchasing or selling a home in Mooresville, Cornelius, Huntersville, Troutman, Denver, Sherrill's Ford, Catawba, Davidson, or Statesville, North Carolina!

Money for nothing, and your checks . . .

Thu, 29 Sep 2011 13:50:58 -0400

I need to print copies of this and carry it around with me. I think I would pass it out at least 5 or 6 times a month!

Via Mike Cooper, Real Estate Agent-Broker, Winchester,VA (Cornerstone Business Group, Inc.):

"I'm thinking about gettin' a Realtor's license. I'm tired of this 9-5 schedule. I'd be nice to sleep in, take vacations whenever I want, drive a nice car, live in a big house, you know, all that stuff that Realtors do."

Please do not adjust your computer screen. There is nothing wrong with your monitor. On the other hand, there is something wrong with this picture. How many times have you heard similar comments? I've had so many people say things like this to me I think it's time to help them get started in the Realtor field. If you want to be a Realtor because it's easy, think about the following:

You will need a high school diploma - no big deal.

You will need to sit through the salesperon classes - again, no big deal.

You will have to pass the class test, and then pass the state test - not really a big deal - though not really that easy.

You will be fingerprinted and have a background check run - remember that felony warrant? No big deal if you don't have a felony warrant. Oh yeah, that's not included in your testing fee. Did I forget to mention there is a testing fee?

You will need to pay state real estate board fees, pay to join a local real estate board, buy E&O insurance,pay for lockbox access, pay for access to the MLS and have a business license. Oh yeah, you have to pay for that too.

You will need a dependable vehicle. And no, the Harley doesn't count.

You will need to hang your license with a local broker. There may be fees involved for desk space and equipment use.

You will need business cards to help all your friends, family and associates know you're in the business. They're not that expensive.

You will need yard signs, or as Michelle Francis calls them, "Yard Art." There is a fee for those too.

You will need lockboxes. Oh, they forgot to tell you when you signed up that the monthly fee doesn't include lockboxes. Bummer. Yeah, you'll want lockboxes.

You will want to have a web-presence. That may mean a website, blog page, IDX page, or a combination of all the above. There is a fee.

You will want to have a smartphone to access data while on the run. You'll want the data package with that so you can access the Internet while showing property. Another fee.

You will want an IPad or some form of tablet if your smartphone really isn't that smart. They're kind of expensive, but you're a Realtor now. Money is no object. Oh yeah, most don't have instant web access. You need to find a Wi-Fi location. But, you can have on demand web access for a fee. After all, people want to see the options right now!

OK, now that you have the basics ready for the first day at the office, let's talk about continuing ed, and classes that actually tell you how to be a Realtor, classes that teach you how to become a better Realtor and classes that teach you how to become an unstoppable Realtor.

Of course, you'll need to attend seminars, conferences and webinars that teach you how to use all of that equipment you invested in when you decided to give up your nasty 9-5 job to live the life of luxury in the world of real estate sales.

Oh, I almost forgot. It will costs you about $2000-$3500 to get started. That might be bit low, but hey, I'm an optimist. No big deal though, because Realtors make lots of money, and as soon as you get your license people will come out of the woodwork to find you. You're in for the easiest job on earth! Good luck!!

********************************************************************************

Give me a call for all your real estate needs, and let's make something amazing happen.

Mike Cooper @ Cornerstone Business Group, Inc., 888-722-6029

Real Estate Sales and Property Management

(Disclaimer: All grammatical mistakes, punctuation breakdowns and misspellings are purely for your amusement and entertainment. Feel free to cackle.)

Search Homes in Lake Norman NC

SEARCH LAKE NORMAN FORECLOSURES

I can also assist buyers and sellers in Short Sales and Foreclosure sales and purchases.

Please call me If you have interest in purchasing or selling a home in Mooresville, Cornelius, Huntersville, Troutman, Denver, Sherrill's Ford, Catawba, Davidson, or Statesville, North Carolina!

100 Winghaven Court, Mooresville NC 28117 - Reed Creek - $130,000

Mon, 19 Sep 2011 15:22:12 -0400

Sandy McAlpine | McAlpine Properties | (704) 746-7513

100 Winghaven Ct, Mooresville, NC

Updated Ranch Starter Home

3BR/2BA Single Family House

offered at $130,000

Year Built 1993 Sq Footage 1,169 Bedrooms 3 Bathrooms 2 full, 0 partial Floors 1 Parking 2 Car garage Lot Size .19 acres HOA/Maint $0 per month

DESCRIPTION

One owner" split ranch home in mature subdivision that is just minutes away from new Brawley Sch. Rd exit on I-77, shopping, restaurants. New flooring, carpet, paint, and light fixtures. HUGE, fenced-in backyard with playset and mature landscaping. Large master bedroom with garden tub and separate shower. Motivated seller!

see additional photos below

PROPERTY FEATURES

- Central A/C - Fireplace - High/Vaulted ceiling - Walk-in closet - Living room - Breakfast nook - Dishwasher - Stove/Oven - Microwave - Laundry area - inside - Yard

OTHER SPECIAL FEATURES

- Fenced Yard - 2 car garage - new floors - some updating to fixtures

ADDITIONAL PHOTOS

Photo 1

Photo 2

Photo 3

Photo 4

Photo 5

Photo 6

Photo 7

Photo 8

Photo 9

Photo 10

Contact info:

Sandy McAlpine

McAlpine Properties

224284

(704) 746-7513

For sale by agent/broker

Equal Opportunity Housing

Posted: Sep 14, 2011, 11:36am PDT

Search Homes in Lake Norman NC

SEARCH LAKE NORMAN FORECLOSURES

I can also assist buyers and sellers in Short Sales and Foreclosure sales and purchases.

Please call me If you have interest in purchasing or selling a home in Mooresville, Cornelius, Huntersville, Troutman, Denver, Sherrill's Ford, Catawba, Davidson, or Statesville, North Carolina!

6125 McIlwaine Road, Huntersville NC 28078 - Abbington Woods $319,900

Mon, 19 Sep 2011 15:09:04 -0400

Sandy McAlpine | McAlpine Properties | (704) 746-7513

6125 McIlwaine Rd, Huntersville, NC

1.2 Acres in Huntersville

4BR/3BA Single Family House

offered at $319,900

Year Built 2000 Sq Footage 3,058 Bedrooms 4 Bathrooms 3 full, 0 partial Floors 2 Parking 3 Car garage Lot Size 1.2 acres HOA/Maint $38 per month

DESCRIPTION

One owner, custom-built, 1.2 Acre Private Lot,10 min. to Lake Norman public access & Birkdale Shops,Neutral Fresh Paint,New Carpet in most rooms, Irrigation,Storage Barn & Play-Set in private yard,Luxurious Master Bath,Screened-porch,2-story Great Room,XL Bedrooms,Extra Concrete on drive for parking,Office/Bedroom w/Full Bath down,HUGE Bonus w/walk-in closet,TONS of Attic storage,3-Car Garage! Posted: Sep 19, 2011, 9:46am PDT

Search Homes in Lake Norman NC

SEARCH LAKE NORMAN FORECLOSURES

I can also assist buyers and sellers in Short Sales and Foreclosure sales and purchases.

Please call me If you have interest in purchasing or selling a home in Mooresville, Cornelius, Huntersville, Troutman, Denver, Sherrill's Ford, Catawba, Davidson, or Statesville, North Carolina!

STOP Over-Pricing Your Home For Sale... "You'll Catch Many More Bees With Sugar Than Vinegar"...

Fri, 19 Aug 2011 14:04:12 -0400

I whole-heartedly agree with this post. If you are priced to high in the bracket of competition, then you won't see any showings and therefore, you won't receive any offers. Priced right = more showings = more offers. It's simple.

Via Phyllis Lerner, Realtor - Broker / Owner - Westchester County NY (William Raveis Legends Realty Group LLC):

So, you are selling your home. But you are deadly afraid of low-ball offers coming in. And therefore you think it best to tack something on to the estimated fair market value of your home, just to have a buffer for the anticipated back and forth negotiations! But, seriously, why would anybody want to over-price their home to counteract a low-ball offer?

Just look at this scenario. Pricing a home at or below the current market value will attract many more potential buyers, especially if it's a home that shows really well. Therefore, you'll most likely receive a higher number of offers. The moment buyers hear that there are other offers it will induce an increased sense of urgency causing them to fight over it (they really want your home... it shows well... it's priced right).

Value pricing takes much of the anxiety and stress out of the home selling process.

Nevertheless, many sellers still fear, even if they price their home for the market, buyers will still send them low-ball offers. Guess what... that is going to happen no matter what! But a sensibly priced home will invariably also attract much more serious buyers that understand that they are competing with other motivated buyers. If a house is priced right this still happens. Buyers will compete for it. And the serious buyers will offer exactly what it takes to get what they want, leaving the low-baller in the dust!

Isn’t this type of no-nonsense pricing approach a much better idea? It entices... instead of turning potential buyers off... "you'll catch many more bees with sugar than vinegar"... or so, the saying goes?!

Phyllis Lerner, Realtor

Broker / Owner

http://westchester-real-estate.us
914-438-7556

Voted 2010/2011 FIVE STAR Real Estate Agent by Westchester Magazine

Search Homes in Lake Norman NC

SEARCH LAKE NORMAN FORECLOSURES

I can also assist buyers and sellers in Short Sales and Foreclosure sales and purchases.

Please call me If you have interest in purchasing or selling a home in Mooresville, Cornelius, Huntersville, Troutman, Denver, Sherrill's Ford, Catawba, Davidson, or Statesville, North Carolina!