Foreclosures can be a great buy, but understanding the mortgage requirements on foreclosed properties is important.
It’s estimated that up to 1/3 of all real estate sales today involve foreclosed property. You can purchase foreclosures at incredible discounts. But, if you’re not paying all cash, you need to understand mortgage lending guidelines for foreclosed properties.
We all know that many people are having trouble selling their home in today’s market, but none more than the wealthy. With the amount of buyers that are choosing to downsize and the fact that jumbo loans are now on the endangered species list, selling a multi-million dollar home has become more difficult than ever.
And this has even started to affect those “beings of perfection” better known as celebrities. Here are some celebs who just can’t seem to sell their houses:
I was in one of our office meetings recently with a speaker from Personal Marketing Company and she asked the group how many of us had been in the business for more than 10 years and a handful of us raised our hands. Then, she asked how has the business most changed for you?
Well, several things went through my mind, but technology is what has really changed the way we do business. It got me to thinking about how different things are today from when I started in the industry some 26 years ago (now erase that from your mind…I don’t want to give away my age).
The landscape of today’s real estate market is fertile with many vacant homes. We all know there are a lot of foreclosed properties on the market and they’re being purchased by investors with cash to spend. Others are going ahead and buying the bigger property at the better deal, while putting their home up for sale. Meanwhile, these homes can sit for weeks, months or years at a time until they’re sold. (more…)
Believe me, it’s an exciting time to start a real estate career. If you’re in the process of obtaining a real estate license or if you’ve been licensed only a short time, and you’re asking yourself, “what was I thinking?” – I encourage you to stay the course.
Based on my personal experience, there is no better time to start a real estate career than in a challenging market. A challenging market creates opportunities – opportunities translate to a successful career path – a successful career path translates to financial independence.
Ever heard the phrase, “A picture is worth a thousand words?” Well, in real estate, it’s worth thousands of dollars for both you and your seller.
Photos (good ones that is) are one of the easiest things you can do to market your listing. In fact, 98% of homebuyers who searched for a home on the Internet found photos to be among the most useful features of Realtor websites, according to the 2008 NAR Profile of Home Buyers & Sellers.
I’ve heard the same story over and over recently, but I believe every sale (no matter what the size) helps. And I hope anyone who reads this will think about this and tuck it away for future reference…
Heard recently – “Real estate sales are increasing, but the sales tend to be low-priced bank-owned homes.”
My response – So what! Inventory is moving. Plus, these are real families moving into real homes and sending their children to schools and mowing the grass which hasn’t been cut in months. This is a good thing!
Are you one of those people? You know…the one who is on Twitter and Facebook all day. Well, you’re not alone. Social networking sites are easy to use and help you stay in touch with family, friends and clients. Plus, they’re fun.
It’s one of the best marketing initiatives any business person can make. How else can you stay in front of hundreds of your clients every day…for free? In the past, you’re only way of following up or staying in touch was in person, by postcard, making calls, via email and a few other time consuming and/or expensive ways.
What are you waiting for? Is it worth the wait or are you waiting for the sake of waiting?
Many buyers in the market are literally waiting to buy a home until there is more! More of what, many of them don’t know. And what these “waiters” are risking is far greater then the illusive “more” they are waiting for.
Franchises are everywhere today and provide extraordinary opportunity for individuals seeking business ownership and for Realtors® wanting to assist buyers and sellers. Some examples of the franchising impact on a global basis include McDonalds and Subway with over 31,000 locations and 7-Eleven with over 30,000 locations.
McDonalds has franchises in 119 countries making one wonder; who on earth hasn’t had a Big Mac and fries? Virtually any concept you can imagine is offered as a franchise. So what, you might ask, makes a franchise business so desirable? A recent ad in Business Week succinctly states the conventional wisdom on the risk involved in entering self-employment by purchasing a franchise: “A franchisee has a four times greater chance to succeed than an entrepreneur who launches a new independent business.”
There are many resources available when looking for a real estate professional. You can search the Internet, inquire with friends and relatives, and you probably know more than a few yourself. However, the real dilemma lies not in how to find an agent but rather in finding the right agent.
According to customer surveys, the obvious things to look for are: Honesty, integrity, reputation, professionalism, knowledge and an effective communicator.
At the recent GAR Brokers / Managers Conference, one of the most hotly debated issues concerned whether or not real estate sales commissions should be put (back) into the standard Purchase and Sale Agreement.
I sometimes hear from commercial and business brokerage agents about the lack of opportunity or that they are not making as much money as they want to make. It’s not that I’m surprised to hear the complaint but rather the notion that the perceived problem is beyond the agent’s control.
Picture yourself driving on the Atlanta interstate system at any give time of the day. Usually there are a minimum of 4 other cars around you going in the same direction. Now, there are no signs on these cars that say “I have Liability Insurance and my limits of coverage are…”
I attended GAR’s annual broker and manager meeting a few days ago. It’s the second annual meeting hosted by GAR and open to brokers and managers from every GAR member firm in the state. The intent is to give all the company leaders some insight into industry trends. Part of each meeting, though, is devoted to current lawsuits which affect or could affect Realtors in Georgia. A couple of them are pertinent to agents’ day to day dealings and will help us avoid future problems. Here’s one of the current cases…
 |
Ann Bone (bio) Offering advice, one question at a time. |
 |
Glen Curry (bio) Your go to guy for insurance. |
 |
Dana Eskridge (bio) Relocation and foreclosure specialist. |
 |
Tisha Gay (bio) Delivering the hottest marketing trends and ideas to help you. |
 |
Dan Hinson (bio) Your business and commercial brokerage specialist. |
 |
Judy Jones (bio) Metro Brokers' own mortgage guru. |
 |
Eddie Krebs (bio) Providing advice on the latest real estate tech. |
 |
Kevin Levent (bio) Providing insight into industry trends. |
 |
Fran Stiakakis (bio) Dedicated to agents getting the most from their broker. |
 |
Brenda Waters (bio) Guiding agents through their real estate careers. |
