Archive for October, 2010

Choosing the Right Location for Your Retail Property

October 25, 2010

Now is a great time to expand your business due to low prices and high inventory, but there are many factors that must be carefully considered prior to selecting a new retail location.

First, the amount of space that will be required and the build-out necessary to do business must be determined. The immediate need for space may change significantly in the first five years and could make business growth difficult.

Next, consideration must be given to neighboring businesses, so that customers for one are candidates for the other. For instance, you wouldn’t want to put your new restaurant right next to a mechanic. (more…)

Foreclosure Moratorium – Does it Affect Me?

October 18, 2010

Phones are ringing and emails loaded with links are flying!  What does the latest foreclosure debacle, the fact that errors or omissions have been/are being discovered in previous residential foreclosures mean to homeowners being threatened with foreclosure, to bank sellers who have already foreclosed, to potential buyers, to mortgage lenders and to real estate professionals? 

Many, many residential mortgages have not been retained and serviced by the lender who initially made the loan.  Over the years, most mortgage debt instruments (mortgages, for short) have been sold, resold and resold again on the secondary financial market.  Homeowners routinely received notices that their mortgage had been sold and that “the new mortgage servicing company is (insert name of new mortgage company here).”  Payments were dutifully sent to the new company until the next notice arrived. (more…)

Mom Was Right!

October 11, 2010

We all grew up with our mothers telling us certain little ditties that have become as familiar as Shakespeare quotes. Much of what we were told as children has great application for how we conduct ourselves as real estate professionals.

A great example I heard yesterday was “If everyone else jumped off a bridge, would you?” and I thought, you mean like if every other agent took overpriced listings, why shouldn’t I? Taking overpriced listings is not good for anyone. It’s bad for the agent, because it costs them marketing dollars. It’s bad for the homeowner who will not attract the most eligible homebuyer and it’s not good for buyers who might get a contract on a house that will not appraise. (more…)

Earthquake!! Life and Times of an Insurance Adjuster

October 4, 2010

Insurance Adjuster earthquakeSeptember of 1989 began an unprecedented series of natural disasters when Hurricane Hugo hit South Carolina. Little did we know at the time, this would begin a pattern of at least two major events per year for the next 10 years that would change the way insurance companies treated both consumers and their employees.

These events would include at least one major hail storm per year coupled with many others scattered throughout the southwest including hurricanes and earthquakes. Hurricane Andrew hit in August of 1992, becoming the costliest disaster on record for insurance companies with billions of dollars paid out in claims.

As a result, the “loyalty” from the insurance company once coveted by consumers took a direct turn to a total focus on the bottom line, profitability. No longer did it matter you had been insured with one company for 25 years with no claims, once you had a string of bad luck, you were canceled. (more…)