Well, here I am again; untimely as ever. Except, I have an excuse. Current real estate market conditions have kind of gotten in the way and necessitated that I spend my writing time, writing time previously devoted to writing in my blog, actively pursuing my real estate business. Despite all of the negative talk about the market, there are still sellers who have to sell and buyers who have to buy and they deserve the best representation available. But, everything has become harder, requiring more time and patience than ever before. Consequently, I have deliberately chosen to continue to provide the best representation and service that is humanly possible to my clients. On the other hand, such a commitment has left a visible void in my blog. Not to worry though. I have been able to respond to everyone who has contacted me personally about their real estate needs and questions. Once again, I’m extremely happy to report that that is a positive.
Although not attributed to anyone specifically, on my shelf there is a picture of a young person riding a bike through the woods with the words “To achieve, you must believe something and want something with all your might. Then, you must be willing to commit yourself to a course.” Those words and the picture are from an old page calendar providing different thoughts for each day. I recite that because, with so many negative things going on all around us, I see more and more people needing encouragement in their lives.
But if you think about those words, “To achieve, you must believe,” they really are true. One has to believe something is possible before one can attempt to work toward achieving it. On my file drawer I have the words, “Believe and Succeed” written. There is also a page with the words, “If you can’t believe it, you can’t achieve it.”
I suppose you could say that my thought for today is, this is the first and best day of the rest of your life. If there is something you have been dreaming about but have lacked the confidence or strength to commit to it, look at yourself in the mirror and repeat, “Today is the first and best day of the rest of my life. I can do and accomplish anything I commit all of my energy and attention to achieving. I can do it.”
Thanks again for stopping by and have a great and wonderful day. But always remember to
Do Good ….. BE GREAT ….. 110% …..
Tuesday, January 29, 2008
Thursday, January 10, 2008
Real Estate, Homes & Fixers
Although it has been several weeks since my last post, I’ve been constantly thinking and reviewing what information, beyond what is provided daily in the newspaper or other media, would be useful and meaningful. Quite honestly, I’ve actually been overwhelmed with all of the various alternatives.
To begin with, what is commonly referred to as “fixers”, I want to relate a conversation I had with a former builder who now purchases homes in poor condition and gives them a facelift. What this particular former builder told me was that he no longer had the insurance required to be a builder but, by buying “fixer” homes and giving them a ‘like new’ appearance, insurance wasn’t required. Obviously not all people engaging in “fixers” are former builders. Yet, when looking at a home that has been rehab’d, does anyone ever know the level of knowledge or skill the person had who completed the work? Were permits required? Was there electrical or plumbing work completed that is now hidden behind nicely textured and painted walls? The point here is not to belittle or defame “fixers” as bad. It’s simply to caution the public to take care in knowing what they are buying. Until the recent slowdown of appreciation, “fixers” supposedly made a lot of money for what seemed like little risk. Granted, they seemed to fill a need for housing that looked perfect and therefore became more appealing to home buyers who wanted a cute house which didn’t require any work. However, buyer beware, a superficial facelift doesn’t make a new home or condo. What happened to sweat equity?
Regarding credit scoring, which I believe was originally intended to make our society color blind, it is now being extended to real estate home loans. Of course it has always been applicable to real estate loans. Except now, home buyers with lower credit scores will pay an additional quarter percent, possibly more, than buyers with higher credit scores. Also I learned yesterday that private banking, in addition to dealing with high asset clients, is able to continue lending to high profile borrowers with larger than typical debt regardless of their credit score. I guess the point here is the public, especially the average people, needs to be more aware that greater opportunities will be available to those who are able to accumulate assets while retaining a higher credit score.
And that brings me to my next point. What is a home and why buy it? Obviously is home is somewhere to live and a lot more. This question has been a concern of mine for some time. Too many people seemed to be buying homes with the overriding expectation that prices would continue to rise at unprecedented rates forever. Plus many buyers were relying on 100 financing in order to complete the purchase. Of course when home prices stopped accelerating and a move or relocation was required, it isn’t too difficult to see what drama would occur with the home buyer who is now a seller. I hope that seller has deep pockets. Oh yes, there could maybe be a “Short Sale” in their future. But that’s an entirely different topic that will be considered another day.
Getting back to my point about a home, it would seem to me that a home is a place which offers security and protection to the home buyer. It is also a place where asset growth can occur. Short-term, no! Long-term, the answer has to be yes. Thirty-five years ago we counseled home buyers that, in order to break even on their home purchase, they needed to stay or keep a property at least 2-to-3 years. We’re likely at that point again. Yet the advantages of owning rather than buying are staggering. As a homeowner, if you don’t like the color of a room, you can change it without consulting with a rental management company or a landlord. If a faucet begins to leak, no problem, just go to Home Depot, get the parts and fix it yourself. If you want to remodel and add a room so you don’t have to move, do the work yourself or hire a contractor to assist you. Perhaps we need to be more concerned about the advantages of home ownership rather than whether prices are up or down on any particular day, month or year. Believe me, as a homeowner, despite period of slowdowns and low appreciation rates, the long-term prices of real estate has always grown. And it always will. You see, there is only so much land.
Anyway, I’ll try to be more diligent about writing to my blog and I won’t let things build up inside where I feel so overwhelmed. Thanks for reading and do have a great day. Speaking of having a great day, I sense that too few of us ever get the encouragement we need in order to fully have a great day. I hope that each of you will come to recognize the great potential that lies within you and decide to fully and completely use it to make your day great. In working toward your goal, please remember to:
Do Good ….. BE GREAT ….. And always give 110% in all that you do …..
Now, go out and have a “Great Day!”
To begin with, what is commonly referred to as “fixers”, I want to relate a conversation I had with a former builder who now purchases homes in poor condition and gives them a facelift. What this particular former builder told me was that he no longer had the insurance required to be a builder but, by buying “fixer” homes and giving them a ‘like new’ appearance, insurance wasn’t required. Obviously not all people engaging in “fixers” are former builders. Yet, when looking at a home that has been rehab’d, does anyone ever know the level of knowledge or skill the person had who completed the work? Were permits required? Was there electrical or plumbing work completed that is now hidden behind nicely textured and painted walls? The point here is not to belittle or defame “fixers” as bad. It’s simply to caution the public to take care in knowing what they are buying. Until the recent slowdown of appreciation, “fixers” supposedly made a lot of money for what seemed like little risk. Granted, they seemed to fill a need for housing that looked perfect and therefore became more appealing to home buyers who wanted a cute house which didn’t require any work. However, buyer beware, a superficial facelift doesn’t make a new home or condo. What happened to sweat equity?
Regarding credit scoring, which I believe was originally intended to make our society color blind, it is now being extended to real estate home loans. Of course it has always been applicable to real estate loans. Except now, home buyers with lower credit scores will pay an additional quarter percent, possibly more, than buyers with higher credit scores. Also I learned yesterday that private banking, in addition to dealing with high asset clients, is able to continue lending to high profile borrowers with larger than typical debt regardless of their credit score. I guess the point here is the public, especially the average people, needs to be more aware that greater opportunities will be available to those who are able to accumulate assets while retaining a higher credit score.
And that brings me to my next point. What is a home and why buy it? Obviously is home is somewhere to live and a lot more. This question has been a concern of mine for some time. Too many people seemed to be buying homes with the overriding expectation that prices would continue to rise at unprecedented rates forever. Plus many buyers were relying on 100 financing in order to complete the purchase. Of course when home prices stopped accelerating and a move or relocation was required, it isn’t too difficult to see what drama would occur with the home buyer who is now a seller. I hope that seller has deep pockets. Oh yes, there could maybe be a “Short Sale” in their future. But that’s an entirely different topic that will be considered another day.
Getting back to my point about a home, it would seem to me that a home is a place which offers security and protection to the home buyer. It is also a place where asset growth can occur. Short-term, no! Long-term, the answer has to be yes. Thirty-five years ago we counseled home buyers that, in order to break even on their home purchase, they needed to stay or keep a property at least 2-to-3 years. We’re likely at that point again. Yet the advantages of owning rather than buying are staggering. As a homeowner, if you don’t like the color of a room, you can change it without consulting with a rental management company or a landlord. If a faucet begins to leak, no problem, just go to Home Depot, get the parts and fix it yourself. If you want to remodel and add a room so you don’t have to move, do the work yourself or hire a contractor to assist you. Perhaps we need to be more concerned about the advantages of home ownership rather than whether prices are up or down on any particular day, month or year. Believe me, as a homeowner, despite period of slowdowns and low appreciation rates, the long-term prices of real estate has always grown. And it always will. You see, there is only so much land.
Anyway, I’ll try to be more diligent about writing to my blog and I won’t let things build up inside where I feel so overwhelmed. Thanks for reading and do have a great day. Speaking of having a great day, I sense that too few of us ever get the encouragement we need in order to fully have a great day. I hope that each of you will come to recognize the great potential that lies within you and decide to fully and completely use it to make your day great. In working toward your goal, please remember to:
Do Good ….. BE GREAT ….. And always give 110% in all that you do …..
Now, go out and have a “Great Day!”
Friday, December 14, 2007
Realtors Help in Flood Relief
I am a Realtor. Not all real estate salespeople belong. But, for those of us who do, each of us ascribes to a written code of ethics, higher than what is required by the state's department of licensing. We also work within our communities to further the interests of real property owners. Of late, our organization has spearheaded continual efforts by the State Legislature to increase the excise tax on the sale of all real estate throughout the state. When I started in 1972, the excise tax was one percent and the medium sale price of homes sold was considerably less than it is today. Since then, the excise tax has grown to well over 1.8% in many communities of the state. Obviously, the medium sale price of a home likely exceeds many hundreds of thousands of dollars.
As I said, not all real estate salespeople are Realtors. I am proud to hold that distinction. This week I am particularly proud to be a Realtor because of our efforts to help flood stricken communities with aid and assistance. I received the following email from Pat Maddock, President of the Tacoma Pierce County Association of Realtors, concerning our continuing efforts to provide relief.
The email states, “Yesterday, the Executive Committee of the Washington REALTORS voted to deliver $50,000 in assistance to the local REALTOR associations in the Washington Flood damaged counties. So, they could help the REALTOR families whose lives have been so severely disrupted by the recent flooding. Sitting in that meeting I was very impressed by the unanimous vote by our state leadership to do the right thing, at the right time. During that meeting it was announced that the Louisiana Association of REALTORS has already been in contact and they are sending a check to help in the relief effort, too. They did not hesitate to do so, remembering that the Washington REALTORS (that's you and me) were the first to send assistance following Hurricane Katrina and that was more than $70,000. Also during that discussion a call came in from the Seattle King County Association President, Dan Kennedy, saying that SKCAR, with their 8,000 members would add $5,000 to this cause. Immediately Karen Schweinfurth, the Snohomish County-Camano Island Association President added $2,500 from her association and this morning, your Board of Directors here at the Tacoma-Pierce County Association of REALTORS voted to match the Snohomish donation. I was equally proud of them but they went a step farther and that's where you and your adult family members come in. In fact, we can't pull this off without YOU!
“As a former FEMA employee, I can attest that following a major flood event there is an endless list of unmet needs. They take many, many forms and they are real and some are dire. Well, having spent hours on the phone with emergency management officials from federal, state and local agencies over the past twenty-four hours I can tell you that in some ways they are desperate...desperate for help. Yes. The cash donations go a long way but they need helping hands, too. They need bodies and they need them now. The media hasn't even scratched the surface in terms of the length and breadth of this most recent Washington disaster and the degree to which it has affected families throughout the area. We can help.”
Yes, through the efforts of all people, wonderful things can be accomplished.
As I said, not all real estate salespeople are Realtors. I am proud to hold that distinction. This week I am particularly proud to be a Realtor because of our efforts to help flood stricken communities with aid and assistance. I received the following email from Pat Maddock, President of the Tacoma Pierce County Association of Realtors, concerning our continuing efforts to provide relief.
The email states, “Yesterday, the Executive Committee of the Washington REALTORS voted to deliver $50,000 in assistance to the local REALTOR associations in the Washington Flood damaged counties. So, they could help the REALTOR families whose lives have been so severely disrupted by the recent flooding. Sitting in that meeting I was very impressed by the unanimous vote by our state leadership to do the right thing, at the right time. During that meeting it was announced that the Louisiana Association of REALTORS has already been in contact and they are sending a check to help in the relief effort, too. They did not hesitate to do so, remembering that the Washington REALTORS (that's you and me) were the first to send assistance following Hurricane Katrina and that was more than $70,000. Also during that discussion a call came in from the Seattle King County Association President, Dan Kennedy, saying that SKCAR, with their 8,000 members would add $5,000 to this cause. Immediately Karen Schweinfurth, the Snohomish County-Camano Island Association President added $2,500 from her association and this morning, your Board of Directors here at the Tacoma-Pierce County Association of REALTORS voted to match the Snohomish donation. I was equally proud of them but they went a step farther and that's where you and your adult family members come in. In fact, we can't pull this off without YOU!
“As a former FEMA employee, I can attest that following a major flood event there is an endless list of unmet needs. They take many, many forms and they are real and some are dire. Well, having spent hours on the phone with emergency management officials from federal, state and local agencies over the past twenty-four hours I can tell you that in some ways they are desperate...desperate for help. Yes. The cash donations go a long way but they need helping hands, too. They need bodies and they need them now. The media hasn't even scratched the surface in terms of the length and breadth of this most recent Washington disaster and the degree to which it has affected families throughout the area. We can help.”
Yes, through the efforts of all people, wonderful things can be accomplished.
Wednesday, December 12, 2007
A Holiday Visit!
As a Realtor, one of the most enjoyable things I do is deliver a Holiday Thank You Baskets to all of my clients I’ve had since I reactivated my broker’s license in 2001. I say it’s fun because I usually get invited into their home and we are able to chat about their year and important developments that may have occurred. They also want to know about my year and whether I have any more grandchildren. Most everyone is interested more in life and living; raising their families or enjoying retirement than in the negative news concerning real estate or the economy.
Although I enjoy it immensely, it does require an extraordinary effort to get to everyone and spend time visiting with them. You know, there are only so many days between Thanksgiving and Christmas. But, I can assure you, I certainly enjoy it immensely. What’s more important, most of my clients have come to look forward to my Christmas Basket and my visit.
Although I enjoy it immensely, it does require an extraordinary effort to get to everyone and spend time visiting with them. You know, there are only so many days between Thanksgiving and Christmas. But, I can assure you, I certainly enjoy it immensely. What’s more important, most of my clients have come to look forward to my Christmas Basket and my visit.
Tuesday, December 11, 2007
Who's Your Real Estate Agent?
When listing a home with a real estate agent, how many sellers ask about how many listings does that agent carry? Is your real estate agent an individual or a team? Will you be working with the real estate agent you selected or someone else or maybe even a less qualified assistant? Or, is there anyone who will know everything about my property listing and sale?
As I watch the daily posting of new listings, I’m always intrigued by sellers’ who select agents who carry thirty, forty, fifty, sixty and even more listings at any given time. These agents give every appearance of being great superstars. But, is it reality or simply an illusion?
As for myself and my business model, I am not a team and I don’t have any assistants. I have no one other than myself to rely on for complete and total knowledge or support about any given property listing or sale. As to the number of listings I carry, being committed to personalized and individual service, it’s hard for me to imagine myself with more than 10 to 15 listings at any given time; sometimes, depending on the circumstances, far fewer. For instance, I currently have two high-end properties where I have to be present to open the house for anyone interesting in viewing either property. Of course, such a commitment can sometimes be a waste of time. Yet, for me, they allow me to distinguish myself above and beyond my competitors. It’s my personal commitment to my clients. Besides, who knows more about those properties, me or an assistant or another associate?
Of course, these are decisions every seller has to make for themselves. But I’m unsure whether most sellers have given much thought to the value of personal attention in the processing of their home sale or purchase. With my business model, I believe I provide a great value to my clients. Perhaps it’s something I need to talk about more often.
As I watch the daily posting of new listings, I’m always intrigued by sellers’ who select agents who carry thirty, forty, fifty, sixty and even more listings at any given time. These agents give every appearance of being great superstars. But, is it reality or simply an illusion?
As for myself and my business model, I am not a team and I don’t have any assistants. I have no one other than myself to rely on for complete and total knowledge or support about any given property listing or sale. As to the number of listings I carry, being committed to personalized and individual service, it’s hard for me to imagine myself with more than 10 to 15 listings at any given time; sometimes, depending on the circumstances, far fewer. For instance, I currently have two high-end properties where I have to be present to open the house for anyone interesting in viewing either property. Of course, such a commitment can sometimes be a waste of time. Yet, for me, they allow me to distinguish myself above and beyond my competitors. It’s my personal commitment to my clients. Besides, who knows more about those properties, me or an assistant or another associate?
Of course, these are decisions every seller has to make for themselves. But I’m unsure whether most sellers have given much thought to the value of personal attention in the processing of their home sale or purchase. With my business model, I believe I provide a great value to my clients. Perhaps it’s something I need to talk about more often.
Don't be fooled ...
Although my intent has always been to provide significant daily updates about the real estate world in Pierce County, Washington, thus far there have been way too many distractions. For this I apologize. However, I’ve had more projects and clients which required my immediate attention. In other words, being busy has been a good thing for me.
As to the real estate world in Pierce County, it seems to be in a conundrum; interest rates are at the lowest point in months and there is a great inventory of well priced new and used homes. Yet many buyers have positioned themselves firmly and squarely on the fence. Content to see if the bubble bursts or the bottom falls.
Sorry folks, I hate to burst your bubble but that fence you’re sitting on will likely fall before anything else will. Plainly and simply put, the real estate market is too important to our overall economy to let it continue to falter. I believe that, since Reagan’s Presidency, where he inherited double digit inflation with excessive interest rates, you could make a great case that our entire economy is being controlled; like hot water coming from a facet. If it gets too hot, someone has been there to cool it down. And when it’s too cold, someone has been there, monitoring it carefully, to help heat it. So it’s always the right temperature. I believe the same will happen with our real estate market.
Now realize, what’s happening here in Pierce County isn’t at all comparable with what is happening in other parts of the country. So don’t get caught up in all the hype. Our economy is still good. Employment is still good. And we have ever reason to remain confident in ourselves and our work product.
But for those of you who are still fence sitters, here’s my sense of a likely and logical scenario. One day, without any warning at all, you’ll awake and find that the whole scope of the real estate market has changed and prices have returned to normal expected levels. While those levels may not be as high as had occurred in the past several years, they will return. And all of those great prices that you were content to watch are no longer available. Interest rates might even be higher.
If you continue to hesitate, you will surely wake up and find you missed an excellent opportunity. All in all, now is a great time to purchase a home or an investment property.
As to the real estate world in Pierce County, it seems to be in a conundrum; interest rates are at the lowest point in months and there is a great inventory of well priced new and used homes. Yet many buyers have positioned themselves firmly and squarely on the fence. Content to see if the bubble bursts or the bottom falls.
Sorry folks, I hate to burst your bubble but that fence you’re sitting on will likely fall before anything else will. Plainly and simply put, the real estate market is too important to our overall economy to let it continue to falter. I believe that, since Reagan’s Presidency, where he inherited double digit inflation with excessive interest rates, you could make a great case that our entire economy is being controlled; like hot water coming from a facet. If it gets too hot, someone has been there to cool it down. And when it’s too cold, someone has been there, monitoring it carefully, to help heat it. So it’s always the right temperature. I believe the same will happen with our real estate market.
Now realize, what’s happening here in Pierce County isn’t at all comparable with what is happening in other parts of the country. So don’t get caught up in all the hype. Our economy is still good. Employment is still good. And we have ever reason to remain confident in ourselves and our work product.
But for those of you who are still fence sitters, here’s my sense of a likely and logical scenario. One day, without any warning at all, you’ll awake and find that the whole scope of the real estate market has changed and prices have returned to normal expected levels. While those levels may not be as high as had occurred in the past several years, they will return. And all of those great prices that you were content to watch are no longer available. Interest rates might even be higher.
If you continue to hesitate, you will surely wake up and find you missed an excellent opportunity. All in all, now is a great time to purchase a home or an investment property.
Wednesday, November 28, 2007
The holidays are a great time to sell a home!
Yes, if your home is already “For Sale” or whether you’re thinking of selling your home, don't be misled. The holidays are an excellent time to step up your marketing effort. Why you ask? Well there are many reasons beginning with –
1. Many sellers will mistakenly keep their homes off the market leaving fewer good properties, a smaller inventory, for buyers to choose among when selecting a home.
2. Where corporate transfers used to coincide with the end of the school year, they now occur at the end of the calendar year. What this means for sellers is the prospect of more qualified and motivated buyers looking for properties to purchase.
3. Homes look fresh during the holidays.
4. And, we’re currently seeing more high-end buyers looking at our listings in the past several weeks than we had seen all year.
So, if you’re on the fence about what to do during the holidays, be sure and get or keep that home on the market. But make sure there’s lots of room around that tree and you decorate to the hilt.
1. Many sellers will mistakenly keep their homes off the market leaving fewer good properties, a smaller inventory, for buyers to choose among when selecting a home.
2. Where corporate transfers used to coincide with the end of the school year, they now occur at the end of the calendar year. What this means for sellers is the prospect of more qualified and motivated buyers looking for properties to purchase.
3. Homes look fresh during the holidays.
4. And, we’re currently seeing more high-end buyers looking at our listings in the past several weeks than we had seen all year.
So, if you’re on the fence about what to do during the holidays, be sure and get or keep that home on the market. But make sure there’s lots of room around that tree and you decorate to the hilt.
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