Posts Tagged ‘business of real estate’
Wayback Wednesday… Recovery?
- Image by kenjonbro via Flickr
Recovery… In it or do we need to go to it? That was my question two years ago this week… and it is STILL a valid question. And two years ago, I don’t think there were many people (including me) that were expecting the housing slump to last this long.
But here we are, not knowing if a bottom to the market has been established or if there is more blood that needs to run in the streets.
At least now, more of us in the real estate community have figured out that stimulus and incentives aren’t the answer… JOBS are the answer. There are too many potential buyers out there that are worried about the security of their jobs. Demand can’t rise until buyers don’t feel threatened.
And that means that the Supply side of Supply/Demand will be out of whack… even thought the supplies have be mostly dropping for well over a year (compared to the previous year). And even though supply has been coming down, there have been reports of a wave of foreclosures just out of sight over the horizon (those reports have been with us for well over a year, too).
On the flip side, there are some pretty good deals. Mortgage rates are ROCKING… I heard a report today that rates hadn’t been this low in 60 years. If you ARE in a position to buy, it might be the best time in a generation. If not, I understand…
Related articles by Zemanta
- Wayback Wednesday… Don’t be Dumb Like a Bank (lanebailey.com)
- Wayback Wednesday… Add on or Get out? (lanebailey.com)
View CommentsWayback Wednesday… Why the Hurry?
- Image via Wikipedia
This hasn’t changed… unless it has become MORE important.
Looking through listings is kind of like wading through a sea of REOs (bank owned properties) and short sales (properties on their way to becoming bank owned, barring a miracle). And one thing uniting these listings is that they are generally marketed VERY weakly. Scant pictures, minimal descriptions and even non-existent directions to the home.
So, when a property comes on the market that is well photographed, marketed and with a well written description, it stands out.
Two years ago I wrote about agents rushing to get listings onto the market… before things like photographs could even be sorted out. Then and now, buyers reject properties without photos. Seldom do they come back to see if the listing has photos updated on it… unless they have moved past everything else on the market.
Here is the original post…
Related articles by Zemanta
- Wayback Wednesday… Don’t Hide in the Sand… (lanebailey.com)
- Wayback Wednesday… Don’t be Dumb Like a Bank (lanebailey.com)
- Wayback Wednesday… SPICY! (lanebailey.com)
- Wayback Wednesday… Add on or Get out? (lanebailey.com)
- Wayback Wednesday… The Dirty Little Secret… (lanebailey.com)
View CommentsWayback Wednesday… SPICY!
A couple of years ago I wrote a post about blandness. I don’t like bland and I think most people agree that bland is… boring. It applies to food, advertising, movies, art and anything else. Maybe everyone won’t like the spice, but almost nobody will like a complete lack of spice. But, I guess there are just a few people out there that really like boring.
The story is about a grandmother ‘protecting’ her grandson from something she thought was too spicy for his young palate. Of course, I applied it to real estate advertising… and even tossed in one of my favorite spicy commercials…
View CommentsWayback Wednesday… Don’t be Dumb Like a Bank
- Image via Wikipedia
A couple of years ago I wrote a post about a particular property. It was a foreclosure, and the bank acted stupidly. And I’m not saying that lightly. Had they accepted my client’s offer, they would have sold the property a year earlier and for $40k more than they eventually got.
Now I see a lot of people making the same mistake from the other side of the fence…
I see buyers trying to deliver one last beating to the bank… often during the inspection phase… and losing a great deal over things that are trivial. I understand it. That doesn’t make it any better…
I had one client that was angry that the bank accepted his offer. He thought they would counter. I had warned him that they might accept of reject, but not counter. Some of the banks have a number. If you offer $1 over the number, they accept. If you offer $1 below, they reject. During the inspection period, this client made a LOT of demands. The bank rejected. No counter… no discussion.
Don’t make the same mistake the banks were making.
View CommentsFlashback Friday… Get Out of Your Mortgage for FREE?
- Image by cobalt123 via Flickr
Don’t expect it to actually happen… I wrote about this phenomena a year ago, and there are still lots of practitioners claiming it can be done. They all say that they have done it, but I have been able to find no verified cases where the mortgage was set aside by one of these operations… Delayed, perhaps… but not set aside.
The bottom line is that it could happen… could. BUT, it is WAY more likely that you will spend thousands of dollars on legal fees, and be strung along for months and months… or even years, and then end up in worse straights than when you started.
The line sounds great, and to a non-legally trained mind like mine, it seems logical. But, my industry friends tell me that it just isn’t realistic in the real world.
View CommentsSubscribe for FREE
All My Info
Click here to...
Mouse over this...
Where I Work
Contact Lane…
Lane’s New Video Channel
I have just struck a deal with The Video Connector to provide video content for my sites. Look for lots of cool videos from Tara and TJ from Reel Productions. They have been the providers of my video tours for a couple of years now, and really have a handle on the real estate market. Enjoy.
Testimonials
What do my clients think?
