Florida List For Less Realty Inc.

How many expired listings have you converted in 2008?

2008-08-02T07:42:00.000-07:00

Since it`s the last day of the year i decided to go through our listings to determine what percentage of sellers came to us from our marketing.we use all forms of advertising, so it`s important to keep a record of where we are at all times. Every six months we review our records.
We keep a spread sheet,each listing is taged into different five categories.
I find it easier to determine where our advertsing dollars need to be placed.
The breakdown is as follows:
1- Magazine Ads.
2- Internet
3- Referrals
4- FSBO`s
5 Expired.
Normally, the magazines and the Internet ads generate the most listing appointments for us.
This year our expired listings seem to have gone off the charts!
It`s hard to believe that during 2006 our agents converted 27 expired into listings,out of that we sold 20, the other 7 we`re recycled again.
I wrote a post in the middle of the year entitled "1 year later Listing still on the market! Seller still refuses to hear the truth!" The post mentioned how some listings remained on the market for a year.

Pricing has played a tremendous effect on the market and market conditions and 2007 should be no different. Once upon a time if a seller wanted to place a listing higher than the competition I would shake my head and agree. Today, I bring enough data to choke a horse, showing a potential Seller that this strategy isn`t an option any longer. If a seller wants to sell, than they need to prepare themselves with the correct mindset.
Realtors aren`t able to "Part the Red Sea" like Moses!

For 2007, my first plan of attack is attempting to capture a larger market share in expired listings.
The FSBO market no matter what marketing tools you use is mainly "Hit or Miss", it`s difficult to comprehend what a FSBO retains during a listing presentation. many believe that they can "Do It Better" than a professional. And the beat goes on!

search homes located in broward county florida @ www.listfloridahomesforless.com

Single Mother`s work twice as hard and accomplish so much more!

2008-07-31T04:50:00.000-07:00

It`s really amazing how simple this business can sometimes be!
Some people believe you have to be a Rocket Scientist to become a Realtor.
Others, want to "break a deal, before the deal happens", still if you stick to the same formula over and over again, the actual day to day business of Real Estate can be exciting.
Patricia Fernandez is a Single Mother who obtained her Real Estate licenses 2 years ago.
She had no prior sales experience.
Her intention was to become independent and capable of supporting her son Jalen.
It`s never easy to be a Single Parent, it`s often quite difficult to balance a schedule.
Yet,don`t kind yourself for one moment, this Mother has learned to balance her personal life with the skill of a Wall Street Trader.
Often, she`ll work insane hours to insure she`s addressing the needs of the clients she serves.
One word always comes to mind when i watch her jump into action "Sacrifice".
She has the ability to transform herself from a mother to a negotiator within seconds.

Yesterday, I watched in amazement how effortlessly Patricia was able to negotiate a transaction while her 3 year old son was having a fit in our office.
Wathcing Patricia take control of her transaction via a conference call with the "Loss Mitigation Dept" while holding her son Jalen on her lap was quite a sight.
Patricia can multi- task with the best of them!!

She`s an conscientious Realtor who doubles as our transaction coordinator.

She never misses a beat! As she called me into the conference call, I soon realized our transaction was going south, yet Patricia was in total control with the lender attempting to find out what happened. It was apparent there was a lack of communication from the lender when it came to finalizing the sales price.
She caught it at 3:30 yesterday after reviewing the HUD-1 statement. In between she ran to pick up her son from day care and proceeded to get back to work doing damage control.
Two hours later, she adverted a major fiasco and saved our transaction.

Words can`t describe how hard this women seems to work, the juggling of her schedule and work, never ceases to amaze me or others who have witnessed how hard this person tries.

Patricia these words are for you! "sola,sola en el olvido!sola con su espiritu!!

Real Estate Bubble is kaput! First Time Home Buyers are in Full Bloom...

2008-07-29T04:19:00.000-07:00

Lately, the inquiries we`re receiving each day are from 1st time home buyers who are looking at purchasing a new home.

Many realize prices have stabilized and have reached a level of affordability once again.
These buyers are very well informed and know what they want.
They`re looking at homes where they`ll be able to start a family.
Many are concentrating on Town homes and Single Family homes where the old adage "Location,Location,Location" is very crucial to their decision making.
Some believe they`ll remain in these homes for a period of 5-10 years,which indicates these buyers are ready to make a long term commitment.
Suddenly, people realize home prices are at levels before the market took off.
It`s a buyers market out there, purchasing a home in Broward County Florida makes good financial sense..

I believe the Real Estate Bubble is over!

Ride the Highway West Baby...This isn`t a Sellers Market any longer

2008-07-23T01:45:00.000-07:00

I have to believe there our sellers still out there who are not in touch with the market,shifting economies and a downward spiral in our country.
The dollar,oil and the banking debacle have changed the entire process of buying a home.Gone are the days of 100% loans with teaser rates.

Today, you need to have a group of professionals behind you in order to purchase a home.

Sellers need to revelate their asking price as well as the bottom line.
If an offer comes close to what you wanted don`t play games. Otherwise you`ll lose the buyer,who will simply move on to another home where they`ll be a warm reception awaiting them. Yesterday, after going back and forth with an offer we sent several days ago our buyer started to tire.

They no longer wanted to "Play the Game of You counter, I`ll counter and we`ll meet you half way."

We expressed to the agent who represented the seller, we`re no longer interested in the property if the owner doesn`t agree to our last offer we`re walking.

The agent was smart enough to convey our message to the seller.

The seller relented and finally agreed to accept the offer. There are no more games when selling a home. The first offer maybe you`re best offer. Don`t attempt to re-invent the wheel by playing hardball.

Accept the truth! The market has changed and selling a home isn`t easy as it once was.
The hiring of a professional Realtor to represent you is more important than you can ever imagine.

Do you want to sell or play games? A Short Seller who knows the system...

2008-07-21T02:42:00.001-07:00

More often than not many people who are involved in a Short Sale can`t believe their home needs to be sold.
Some want to prolong the sale as long as possible,while others understand the reality it`s time to move on!
Our job as Realtors is to get the home sold.
Our job description requires us not to chase you down, beg or plead with you to sell,the sale price is determined by the lenders,not you or I!
We`re dealing with a client who has received 3 offers and refuses to sign off.
He`s indifferent to the offers, feels the offers should be higher and worse, i`m the second agent he`s pulled this crapola with.
Rather than continue to argue, we called him to discuss our future together.

The conversation is as follows;

Me: I`m at the point where it`s time we say goodbye. There`s no hope selling this home if you continue to refuse to sign the offers.

Short Sale Seller: The offers aren`t what I expected. I`m not into signing.

Me: The offers are intended for the lenders to review, not you! You`re caught between a rock and a hard place. Not much left to say.

Short Sale Seller: I still have a say here.

Me: Well that's not entirely true anymore. You`ve stopped sending the lender a mortgage payment each month. The responsibility of getting this home sold is really not yours.

Short Sale Seller: I want to stay in the home as long as i can. Your job is to prolong this!

There you have it. A seller who feels they can manipulate the lenders,Realtors,and buyer`s because they wish to remain in a home they`ve defaulted on months ago.
It takes all kinds in this world.Rather than argue, it`s easier to Terminate the listing agreement,than continue on..

What do you do with a House that requires Cosmetic Surgery?

2008-07-20T04:19:00.000-07:00

As I stared inside the home of our new listing i wondered what the heck to write on the remarks section of the MLS.
It`s a short sale, the owners seem to have trashed beyond recognition.
Not every listing is perfect, but this home has to be sold and I accepted the listing knowing the entire situation.
I`m sending in a cleaning crew on Monday in hopes of having the garbage removed inside the home.
It`s truly amazing how people can live like this,but that`s another story.

I realize some would rather not accept the responsibility or challenge of selling this home. It`s easier to walk away from a home which is trashed.
In my opinion I`m a Professional.
It`s our job to represent our clients to our best abilities regardless of how the house looks.

We priced the home lower than we would normally do, because all the fixtures have been pulled out, holes in the walls and a half destroyed kitchen.
In a short sale I`ve grown accustomed to expect the unexpected..

I`m suddenly speaking in Spanish.. and having a blast!

2008-07-19T04:48:00.000-07:00

I`ve been taking intensive "Spanish" for 12 weeks.Talk about having a blast.
Living in South Florida for 27 years, i`ve become accustomed to speaking
Spanglish — (Spanglish, Spanglish, el Spanish broken, ingléspañol, ingleñol, espan'glés, espanolo, (blends of the language names "English" and "Spanish") or jerga fronteriza — refers to the range of language-contact phenomena, primarily in the speech of the Hispanic and Anglo population of the United States and the population of Mexico living near the Mexican-American border, who are exposed to both Spanish and English.) as a form of communication.

After much debate, I decided I had to learn the language and culture. It`s awesome to hear words in Spanish and now I can communicate without sounding like a 3 year old!

This started as a New Year`s resolution.. I wanted to have languagesuges under my belt.
In South Florida it`s a must.

Suddenly, I`m into http://tv.telemundo.yahoo.com/ as well as listening to new music like Mana (http://www.mana.com.mx/) this band rocks in English or Spanish....

It`s like I`ve been introduced to another world. It`s an eye opening experience after so many years.

Change is always good! A reflection of our past and present!

2008-07-16T05:51:00.001-07:00

I received a tremendous complement from Midori Miller in regards to my new photo.
My old photo was 6 years and it reflected a time and place in my life that is quite different than today.

Quite honestly, it wasn`t who I was "It wasn`t me"!
How often do you look in a mirror and ask yourself "Who is that person?", well i finally asked myself "Who the heck is that in the picture".

Yesterday, i decided to replace the old photo with a new one.
I wanted it to reflect ME!
I`ve changed so much mentally,physically and spiritually the past few years,that it was time for the change.
Midori has what I call a "Sixth Sense" and immediately saw it.
Change is really very good. It shows others just who the heck you really are!
It`s taken me almost 3 years of blogging to realize what many here have stated in the past.
Be Yourself.....Go to the mirror and ask yourself this question "who am I".....

If you purchased an investment property at $140K, would you buy in the same area at $75K?

2008-07-15T02:40:00.000-07:00

We had an inquiry from a former client who purchased several town homes from our company in the "High Flying Preconstruction Era" circa 2004.
This investor has done very well by always doing the due diligence when it comes to seeking Real Estate investments.
I came across a new listing in a community located only 5 minutes from Fort Myers Beach.
These town homes are centrally located.
They were built in 2005.
The investor and i discussed how the location of this property hasn`t changed,nor have the amenities. The "market rents" are $850-$900 per month for a 2bed/2.5 Townhome.
It was our opinion after careful review placing an offer at $69,000 would be a great buying opportunity if accepted by the lenders.

The simple truth is many times we can`t "See the tree`s through th forest" to understand the opportunity the Real Estate market has offer.

Now more than ever it seems the bottom is here! Buying now and holding for 2 years seems like an great investing oppurtunity, providing you understand the risk vs reward ratio.

The home which sold for $140,000, three years ago is worth investing in now at $75,000.
Is it a given the market will eventually bounce back? The answer is "NO", but based on past history, it`s a good guess that in 2-3 years the market should be able to rebound and move forward above it`s current levels.

Like the Dinosaur the Traditional Approach of selling Real Estate and some forms of marketing are slowly becoming extinct".

2008-07-13T04:27:00.000-07:00

Once upon a time when gas prices were inexpensive potential buyers would "jump in their cars" and drive around all day looking at houses.It was like a hunter looking for new prey.

Others, did it as a form of a hobby for designer tips, while some felt they wanted to know an area first,some drove because it was a way to kill a few hours with their beloved one.

The chapter of "The Traditional Approach to Real Estate" and it`s entire playbook is slowly coming to an end!

A new Dawn is on the horizon.

In the world of Real Estate both "Drive By`s and Open Houses" literally make no sense.
It`s simply too expensive.

Yesterday, I was with a client viewing properties in Davie,Cooper City and Pembroke Pines, Florida.

They`re hooked on one particular area and wanted to view "Everything",famous last words,huh?.
Being a smart professional I did what they wanted and took them everywhere.

The client observed there weren`t many "Open Houses" in the area. The statement they made was brutally true!

People can no longer afford to drive the neighborhoods as they once did searching for homes.

It`s my guess if they did it would probably cost them $50.00 worth of fuel!
The alternative,is they turn towards the Internet for help.

The extinction of the Drive By`s and Open Houses has changed the way most Realtors market and sell a home as well.

Real Estate magazine publications sales are flat or severely down.

Smart professionals realize it`s no longer cost effective as it once was.
Spending you`re advertising dollars has become like a game of chess in a market that continuously seems to swift.

The economy is hurting,but in order to catch the valuable commodity of dealing with the public hasn`t.
Just like the Dinosaurs oncr ruled the world millions of years ago the world of Traditional Real Estate seems to be disappearing as well.

In the world of Short Sales you need to "Detach yourself"away from your home.

2008-07-12T02:43:00.000-07:00

So many folks are facing an emotional "Roller Coaster" when in default of one`s mortgage.
It`s hard on people, the reality of losing one`s home is extremely difficult.
We deal with Short Sales everyday.

I`ve found in dealing with these sellers that one must begin to explain the Sale of their home isn`t their fault!
The word we use the most is "Detach".
The simple truth is the realization has to set in. After the loan is accelerated, there`s really not much left to do,accept dealing with the lenders. My job is to get the home sold.
There`s no reason to have any more sleepless nights, it`s time to move on.

It`s not easy to accept, nor will it be easy to walk away,but it`s a start.
We`re all treading in "New Waters" that haven`t been seen ever before!

Earth to Lenders,The Fed and Congress. Idle chatter must stop now!

2008-07-11T03:11:00.000-07:00

We work with many people who are facing the possibility of losing their homes.
Majority of these people are hard working members of society.
Their guilty of being squeezed by an economy that has affected everyone.
Paying a mortgage is no longer an option.Many are losing their jobs to outsourcing, some have been affected by higher oil prices,still others are faced with either feeding a family or starving!
I keep hearing the same story almost word for word.
The Fed, Congress and lenders offer NO assistance,it`s as if this country has turned a deaf ear to the masses.
How is this possible in a country as great as ours?

What happened to "God Bless America, and those who live here?"..
Majority of homeowners contact the lenders seeking answers, the lenders in return offer none.
They advise them to download "The Loss Mitigation Package", and go from there.
They do offer a "Loan Modification",except there`s only one catch they need to send money they don`t have.
If the lenders would work more diligently and listen to what these people are actually saying, quite honestly, many within 24 months would probably be able to continue their obligations.
Hard to believe the folks in congress aren`t paying any attention to the general public.

Zestimate and "My friend the Realtor" make a huge mistake!

2008-07-10T03:38:00.000-07:00

How often does someone tell you "My Friend is a Realtor?"

It sometimes implies the person knows more than you do!
I wish I had a nickel every time i hear those "famous last words"..

Regretfully, many Realtors simply shouldn`t give out an opinion,unless of course they know an area.

Just because you have a license in another state doesn`t really qualify you to give a professional opinion.

I you asked me what a home in Houston should be sold for , i`d tell you the truth and insist you seek guidance from someone who resides in the area of interest.
Friends always have the right intentions,they mean well.
Five weeks ago we met a client who wanted to place an offer on a home located in Hollywood, Florida.
The buyer really liked the home and was ready to place an offer.
We ran the comps, explained where we felt the home could be purchased.
The buyer agreed, asked me to send the listing to a friend which we did.
The friend resides in New Jersey and has a Real Estate license in that state.
Apparently, the friend decided to use Zillow.com. Bad move!
Zillow was off by $90,000.
The homes in the area sell for much higher than what Z guessed.
The buyer was upset at us for giving out Bogus advice.
It didn`t matter we ran the comps, live in the area, and have sold homes in this region for 10 years.
Our professional opinion compared to her friend in New Jersey and Zillow meant more.
We received another offer last week and our seller executed the contract.
The person who viewed the home called us last night apologizing for telling us we gave her a "Bogus Opinion", they had been shopping around the area with another Realtor and realized the home we had listed was in fact "Priced Right", they wanted to know if they could place an offer on the home.
I explained the home was in contract and the person was extremely upset.
They explained after much review and consideration that both Zillow and her friend were incorrect.
Hard to believe, huh?
Friends in the business mean well, but, giving out an opinion is not good business,unless you fully know the area.
Using Z has a guideline isn`t much better!
This person missed out on a great buying opportunity!

Why do some Agents have a hard time understanding "The Telephone is the Lifeline of success?"

2008-07-07T03:23:00.000-07:00

The 4th of July was very hectic for myself and our staff of Realtors.

Holidays are a perfect time for people to look at Real Estate.
With a long weekend potential buyers have the opportunity to view homes of interest.

I don`t know about you,but i look forward to these holidays as a positive not negative.
Yesterday, someone was complaining about their telephone ringing and how her clients "Had no consideration towards her", this agent felt these people were annoying her long weekend.
I had to laugh. In case this agent forgot the "Telephone is our lifeline of success". The more it rings the more opportunities we as Realtors have of applying our trade.

There are "Motivational Speakers" who claim you should conduct you`re Real Estate business like a Doctor or Attorney, you should only answer the telephone from the hours of 12:00-1:00PM and from 5:00-6:00PM. What happens in between?
People call Realtors based on shear motivation, simply put "They`re looking to speak to someone immediately, they don`t want to wait around for someone to call them back!"

In case you haven`t noticed many "Top Producers" have done away with those fancy 800`s number`s because they`ve lost tons of potential business.

Many finally realized the clients want to have "Human Contact" and learn about a home rather than hearing a recording.
If you`re having issues answering the telephone on holidays,maybe it`s time to reevaluate why you`re actually in the business.

This is a service oriented business where answering a telephone is part of the cost of doing business..

Why are you pressuring the client into buying a home?

2008-07-06T04:54:00.000-07:00

I spent several hours with a very nice couple seeking to purchase their first home together.
They came to me as a referral. They`ve been looking at houses for a few weeks and felt pressured by their former Realtor who kept insisting they place offers on a few homes they viewed.
The Realtor at one point flatly refused to take them to any other homes because "They`ve seen enough" according to the couple.
Rule #1: Never ever pressure a client in deciding what home is right for them!
People select a home based on what they want, not what you want!
Therefore, insisting that a has seen enough places a wedge between you and you`re client.

Back to the couple.We`ve zeroed in on a few area`s they really like. They decided to look again with me on Monday afternoon.
They were pleased that I never once pressured them into making a decision.

Potential Fireworks between "Buyer and Seller`s".

2008-07-05T04:15:00.000-07:00

It`s the 4th of July and it`s a great day to celebrate our independence.
People are enjoying themselves swimming,BBQ`ing,relaxing and maybe some drinking!
We received a call from a Realtor who wants showing instructions for our listing.
The agent tells us their client is only in town for two days.
We call our client, confirm the listing appointment for the afternoon and go about our business of enjoying a day off.

Three hours later I receive a call from our client,the potential buyers are standing outside their house, without the Realtor in tow!
I ask to speak to the buyers and find out where the agent is.
The clients seem confused.
They`ve been viewing homes for the past two hours without an agent!
They don`t quite understand all the fuss.
The Conversation is as follows:

Out of town`ers: Our agent was too busy to join us. They gave us Lock Box combos and told us to knock on home where the owners are home.
Me: You don`t see anything wrong with this?
Out of Town`ers: Why no! We`re in town for a few more days and we`re just looking.
Me: The owners were instructed never to open a door without a Realtor accompanying the client.
Out of Town`ers: It`s no Big Deal, we`ll leave.

I guess to these potential buyers it`s not such a Big Deal.

Tomorrow, I`ll be calling the Broker in charge of the agent who gave these nice folks showing instructions to find out what the heck is going on!

Motivation is contagious.Every office needs a Buzz!

2008-07-04T03:23:00.000-07:00

I was paid the highest compliment from another Broker the other day.
The Broker stopped by to deliver Condo Docs and observed our staff of Realtors on the telephone assisting clients.
They looked at our board noticed in a slow market we`re busy with sales.
The Broker pulled me aside and asked "How do you motivate your agents to work like this,what`s your secret?"

I thought about it and it hit me!

"Motivation is Contagious" it starts from the top and works it`s way down.
Our Realtors constantly see we`re running around 6.5 days a week, 16 hours a day,developing and generating new leads.
They see me network each day for potential business. In turn the Realtors want to succeed because they see it can be done.

You don`t need to pay a Guru to teach you something about selling. All you need is the knowledge of knowing it takes hard work!

We have a system in place where our agents receive qualified leads each and everyday.
I only ask one thing. "When you enter our office, you come to work, not to play".
Simply put "What goes on in your private life doesn`t effect your business life".

Many have a hard time separating the two.

Selling Real Estate isn`t easy, nor is motivating your staff of Realtors as many of you know, but someone has to set the example!

If you clean it, I`m positive it will sell...

2008-07-03T03:23:00.000-07:00

In the movie Field of Dreams the motto was "If you build it they will come".
It`s the same with a home in a competitive market.
Our new motto when selling a home is "If you clean it,they will come", actually came true yesterday for our client.The home has been listed twice, and has been on the market for over a year.

The home is priced to sell, yet it has remained on the market for no reason,except one!

The home is located in Homestead, it was in dire need of a good cleaning.
The seller refused to believe it, in fact they fought with us over this issue.
Sometimes, it`s easier to take things into your own hands.
Rather than debate the client we contacted a cleaning service who did a fantastic job in cleaning the home "Top to Bottom", they scrubbed the floors, cleaned the dust from the window sills,every chair and table wiped clean. The home now is presentable for people to view.

The seller called last night "Thanking Us" for undertaking a job they couldn`t.

Just like the movie, i`m hoping people will arrive and place an offer on the home now that it`s ready to be shown!

Like Road Rage it seems Active Rage is taking it`s toll on some.

2008-07-02T03:53:00.000-07:00

With 90,000 members,and a plethora of others who visit Active Rain it`s only normal to have a few "Odd Balls", who seem to have what i deem "Active Rage".

Like Road Rage, where people lose all self control on the road and believe they`re in a "Race for the Finish Line", it only seems appropriate "Active Rage" would oneday appear.

Active Rage can be defined as those readers who for whatever reason decide they want to continuously take "Pot Shots" at you by either calling you names or by attacking you on the forum or in extreme cases over the telephone.
Some take it to the extreme, where they feel compelled to call you and tell you what they think! No big deal,except when you use profanities!

There are a few chronics who feel since we`re accessible to the public we should be accessible to them as well.

Yesterday I wrote "Seller objects to a $900 settlement with lenders! Blames everyone for "Not doing their job".. "

This story seems to have hit home with a few readers.
Some took the time to contact me via email taking the side of the seller, they felt they were correct in not taking any responsibility for their actions.They blamed the lenders for this mess,which is fine by me.

Another took the time to post twice accusing me of being indifferent to the client,not fully understanding what a "Short Sale: is or what our job was in completing the sale.
All fine and dandy!
Finally, we received a telephone call from a supposed reader who told me in no uncertain terms " I suck for taking the side of the lenders and how the lenders should "Go to Hell".

They felt with the economy in the doldrums, people have the right "NOT TO PAY", in fact they should have been able to "Stay Longer".
Everyone is entitled to an opinion, I have no issues with that. If you feel compelled to email or post, that`s fantastic.
However, I draw the line when someone actually calls me out on a telephone by spewing hatred.When self control goes out the window, it`s time to worry about the stability of others.
Active Rage is sweeping the Internet, I guess it`s a sign of the times.

How the H.R. 3648 Mortgage Forgiveness Debt effects Broward County Florida and South Florida Real Estate.

2008-07-01T08:56:00.000-07:00

The Administration Has Taken And Continues To Take Aggressive Actions To Help Americans Keep Their Homes
The President launched FHASecure, which has helped more than 225,000 families avoid foreclosure by refinancing into safe Federal Housing Administration (FHA)-insured mortgages. FHA also recently announced a plan to expand the program to help even more families refinance their mortgages. In total, FHA expects to help about half a million families refinance by the end of the year.
The President and his Administration also helped facilitate the formation of the private-sector HOPE NOW Alliance, which has developed multiple strategies to help distressed homeowners. By working together, participants in the mortgage industry have helped more than one and a half million families stay in their homes.
Congress should quickly pass responsible legislation modernizing the Federal Housing Administration. A modernized FHA that is granted appropriate pricing flexibility could help thousands of additional homeowners by the end of this year. In April of 2006 President Bush first sent Congress an FHA Modernization bill, and more than two years later, Congress has still not passed it.
Congress should also pass GSE reform to strengthen the regulation of Freddie Mac and Fannie Mae. A good GSE reform bill would ensure they are adequately capitalized and focused on their statutory housing mission. A strong regulator can also make sure that these enterprises do not take actions that place taxpayers or the financial system at increased risk. GSE reform and FHA modernization represent the appropriate next steps to address the housing downturn

President Bush Signs H.R. 3648, The Mortgage Forgiveness Debt Relief Act of 2007 Roosevelt Room

Fact Sheet: The Mortgage Forgiveness Debt Relief Act of 2007
1:05 P.M. EST
THE PRESIDENT: Thank you all for coming. Welcome to the White House. I'm pleased to sign a bill that will help homeowners who are struggling with rising mortgage payments. The Mortgage Forgiveness Debt Relief Act of 2007 will protect families from higher taxes when they refinance their homes. It will help hardworking Americans take steps to avoid foreclosure during a period of uncertainty in the housing market. I want to thank members of Congress for getting this bill passed. I appreciate it very much. It's been a joy working with you.
I thank my Secretary of the Treasury, Hank Paulson; and the Secretary of Housing and Urban Development, Alphonso Jackson, for taking the lead in helping people stay in their homes. I particularly want to thank the Chairman of the Finance Committee, Max Baucus; Senator Debbie Stabenow of Michigan; and Senator George Voinovich of Ohio, for sponsoring this legislation.
I remember calling you on the phone, telling you that I'm going to propose the same thing you are -- talked to George, as well -- and it's been a joy to work with you.
I want to thank Jim McCrery of the House, Stephanie Tubbs Jones and Rob Andrews. Appreciate you all being here.
I want to thank the staff who works hard at the Treasury and HUD to make this deal work. Appreciate your hard work.
In recent months, our nation's housing market has faced serious strains. Home values have fallen in many parts of our country. At the same time, many homeowners with adjustable rate mortgages have seen their monthly payments increase faster than their ability to pay. And now some homeowners face the prospect of foreclosure.
My administration has taken strong steps to help homeowners avoid foreclosure by making it easier to refinance loans. We gave the Federal Housing Administration greater flexibility to refinance loans for struggling homeowners. We helped assemble a private sector group of lenders, loan servicers, investors, and mortgage counselors called the HOPE NOW Alliance. This group has agreed on a set of industry-wide standards to help those with subprime loans refinance or modify their mortgages, so more families can stay in their homes.
The bill I sign today will help this effort by ensuring that refinancing a mortgage does not result in a higher tax bill. Under current law, if the value of your house declines and your bank or lender forgives a portion of your mortgage, the tax code treats the amount forgiven as money that can be taxed. And of course, this makes a difficult situation even worse. When you're worried about making your payments, higher taxes are the last thing you need to worry about. So this bill will create a three-year window for homeowners to refinance their mortgage and pay no taxes on any debt forgiveness that they receive. And it's a really good piece of legislation. The provision will increase the incentive for borrowers and lenders to work together to refinance loans -- and it will allow American families to secure lower mortgage payments without facing higher taxes.
With this bill, Congress has taken a strong step to address the turbulence in the housing market. Yet there's more work to be done. The Congress needs to pass legislation permitting state and local governments to issue tax-exempt bonds for refinancing existing home loans. Congress needs to pass legislation strengthening the independent regulator of government sponsored enterprises like Freddie Mac and Fannie Mae, so we can keep them focused on the mission to expand home ownership. Congress needs, as well, to complete work on responsible legislation modernizing the Federal Housing Administration, so that we can give the FHA the necessary flexibility to help hundreds of thousands of additional families qualify for prime-rate financing.
By taking these steps, we can help our homeowners -- and we'll help more Americans become home owners. We want people to have a place they can call their own. After all, it's an essential part of the American Dream. And we want that dream to extend throughout our nation.
I want to thank the members for joining us. I wish you all happy holidays. And this is going to make a happy holiday for many home owners. Thanks for coming.

Seller objects to a $900 settlement with lenders! Blames everyone for "Not doing their job"..

2008-07-01T03:28:00.000-07:00

One for the books! A Short Sale in which the lenders agree to allow the sale of a home, a closing which can be completed in 30 days and a seller who decides to balk at the fact they must concede to the lender a whopping fee of ,drum roll pleeaazeee of $900 dollars.

Worse, the seller called to blame me as well as the attorney representing them for, are you ready, "NOT DOING OUR JOBS"..

After living in a home for over 1 year our seller has to finally vacate. Not too happily I must confess. They seem to want to prolong this insanity,I guess if you could why not?
The seller hasn`t made a single mortgage payment to the lenders, now faced with the harsh reality of vacating and compromising to the lenders a $900 check, the seller takes the "HIGH ROAD" and lays blame,nice,huh?

The conversation is as follows:

Seller: You folks didn`t do you`re job! I`m disgusted with you and the attorney!
Me: Are you kidding? You`re off the hook with the lender, the sale is finalized, you owe the lender $900 and you walk!
Seller: I don`t want to pay anyone,nor do I have the money!
Me: You haven`t made a mortgage payment in over a year!
Seller: I haven`t worked in over a year as well.
Me: Who`s fault is that?!
Seller: I couldn`t find a job. I don`t have anywhere to go!? What do I do now?
Me: I`m sorry for you`re circumstance, it`s time to move on. I suggest you beg,borrow or steal for the $900 to clear your name!
Seller: Clear my name? I owe everyone!

That was it! A seller who refuses to work, a home we finally sold and $900 in payments to the lender the seller flatly refuses to pay!
Some days it`s not worth waking up! Yesterday was one of them...

Don`t be Shy. Potential clients need to know you`re capable of selling their home..

2008-06-30T04:17:00.000-07:00

I`m a listing agent who averages 4-8 new listings per week.
Our clients reside all over the country and the world.Many I have never seen except through the net and telephone.
It`s crucial for them to locate an agent whom they have confidence in.
Selling a home in a slow market isn`t easy, nor is the interview process to gain their respect.
I like to send potential sellers a list of both "Active Sales and Closed Sales" as a reference guide for the client to see.

We`re proud of what we do, which is important for the client to know.
A person listing their home is entitled to view your references. It`s a way of showing them your abilities as a professional.
The initial interview is normally through email,therefore it`s important to supply the client with a list of activity you`re involved in each and everyday.

Our Internet business has doubled since last year.

The Traditional Approach to listing and selling a home have changed in the last three years.
With more people searching the Internet you`re approach to addressing these clients must change as well.

Presentation is crucial when showing you`re home!

2008-06-29T05:29:00.000-07:00

We showed a listing yesterday in Margate,Florida. The home was situated on a golf course with outstanding views of the lake.

The home is priced right, yet has remained on the market for 15 months, why?
The home is filthy from the floors,walls,kitchen,bedrooms and windows.
Apparently, the sellers don`t see it, nor does the agent.
Our client took one look and within two minutes decided to leave.
In a tight market you have to insure you`re home is properly presented, whether it`s staging, or simple cleaning, a clean home sells, a dirty one won`t.
The agent called me two hours later asking "Why the buyer left so fast".

I truly didn`t have the heart to tell them why.

Does Realtor.com have any control of their horrible mistakes? Do they even care?

2008-06-27T03:28:00.000-07:00

Many of us have issues with the way Realtor.com conducts business.
Make no mistake about it, they are the "Grand Daddy" of Real Estate marketing,but they`ve become complacent over the years and it shows!

We have a rental in Pembroke Pines, somehow Realtor.com has it as a FOR SALE instead of stating it`s a Rental!
A huge No-NO!

The price is showing the home is being sold for $25,500!

Can you imagine the amount of calls we`re receiving from those eager enough to believe they can buy it for that price!?!
Homes in Pembroke Pines don`t sell for this insane price, try telling that to Realtor.com!
Yet, it`s clearly on their site and guess what?!
It`s next to impossible to contact Realtor.com and explain the problem,why? Because they don`t care!

Last year Realtor.com attempted to "Shake Me" down for having too many listings. They wanted to charge us $4200 per year for the privilege of placing our listings with their service, the price doubled from the previous year.
Realtor.com is indifferent to the majority of their clients and it shows.

Now, I have to field inquiries on a home that doesn`t exist and it`s painful "Getting Yelled" at for something I have no control of, it really does suck!!!

I hope Realtor.com will one day check their own web site,knowing them as I do, they`ll put a great spin on the situation....
If any of you have a similar problem, please let us know.

Maybe if enough of us complain,they`ll start to listen, but than again, knowing Realtor.com I highly doubt it!!

Attention Broward County Florida Realtors:We have Buyers for your Short Sales.

2008-06-26T03:10:00.000-07:00

Yesterday, was a very productive day for my staff and I.
Six months ago we met with Investors who expressed their interest in purchasing Short Sale Single Family Homes in Broward County, Florida.

It was our opinion back than the market still had some correction left in it and we believed based on experience we would see more carnage.
I felt since they were interested in purchasing in Bulk we had a better opportunity to wait on the sidelines and see where the market would go.

We had a conference call in our office last night and i expressed to this group of investors that "Now is the time to start Buying",they fully agreed and we began to send them homes to place.

We have targeted Single Family Homes in Broward County. Therefore, we`re asking our fellow professionals to send us Short Sales of interest.
If you have a "Short Sale worth noting that`s in descent condition, than by all means please feel free to contact our office via email or by calling me directly at 954-275-0200.
Our investors are in place and they fully know how the Short Sale negotiations work, so it`s not a problem getting the transactions completed.
One thing I need to mention. We will not be using you`re title company or mortgage lenders,therefore, please don`t insist on how we complete the transaction.
That being stated we look forward to you`re homes of interest and review.

Weekend at Bernie`s. Lender doesn`t understand the clients are deceased.

2008-06-25T03:44:00.000-07:00

In our ever continuing saga of SHORT SALES, lenders, and operational procedures, every now and than you get one where you just burst out laughing!!!

The laughter is over the mere fact, many lenders don`t quite grasp what their doing,nor do they seem to comprehend.
Why!?!

I guess when you have $10 per hour people working on "Short Sales" with little or no training,they don`t seem to be properly trained.

Such was the case yesterday in which we`re involved in a $67,000 Estate Sale.
The people who owned this condo passed away 2 years ago.I thought we notified the lenders about this situation by sending them "Death Certificates" verifying the couple were in face deceased!

Weekend at Bernies anyone?!

There is no funds in the estate. The family walked from the condo in January.
The comps in the area indicate closed sales average $65,000.
We thought this would be a "No Brainer" for all parties involved,except when it came down to closing.
The lenders decided the BPO which was done two months ago, needed to be reordered.
This time the lenders decided the Condo was worth $79,000.

The conversation is as follows:

Lender: We ordered another BPO, this time we`re assured the value is $79,000. We won`t agree to the $67,000 sales price.
Me: What do you want our client to do?
Lender: We want them to agree to a sales price of $79,000.
Me: After you already agreed to $67,000? Why would anyone do that?
Lender: That is our net figure.
Me: After 12 weeks of going back and forth over an Estate where the couple is deceased this is the best you can do? If I were in your shoes, I`d take the $67,000 and RUN! Didn`t you folks see the comps?
Lender: We need to clear $79,000 and there is no COMMISSION left for you and the other agent!
Me: Really?! Well, I guess there is no sense in going further. In the end it will cost you and additional $20K in legal fee`s etc. to bring this to foreclosure,thereby netting somewhere south of $50K. That makes more sense.. I get it!

I kept thinking the movie "Weekend at Bernie`s".
I never had so much fun in my life attempting to figure out what the heck the lender was doing!

A Single Mother's Quest to Become a Realtor, Finally Happens.Part2

2008-06-24T03:18:00.000-07:00

A year ago I wrote about a Single Mother named Patricia Fernandez .(http://ezinearticles.com/?A-Single-Mothers-Quest-to-Become-a-Realtor,-Finally-Happens&id=651923).

She was determined to make a career for herself in Real Estate.
Easier said than done,especially when the Real Estate Bubble was already bursting.
Yet, through it all Patricia worked extremely hard and applied her trade.

Yesterday, I watched her close another transaction. She makes it look so easy.
Somehow, she`s able to gain her clients confidence in a passionate way.
She shares her life experiences with her clients,which is truly inspirational.

I`ve watched Patricia juggle her busy schedule. Sometimes her 3 year old son Jalen accompanies her on appointments.
The clients never seem to mind. She has built quite a referral business for herself and is busy in a slow market.

It`s remarkable how hard this person works.
Patricia isn`t the only Single Mother out there in this world forging ahead. There are hundreds of thousands of these women who are able to do the impossible day after day.

When I look at Patricia and her son Jalen, I`m always reminded how she came to our office so determined to be a "Top Producer', in our opinion she truly is!

Dog Day Afternoon. Former Tenant refuses to vacate.

2008-06-23T03:14:00.000-07:00

We`re standing outside a home where the tenant we represent in a rental is attempting to move in while the former tenant who was supposed to be "moved out" is inside the home sleeping!

Three weeks ago we executed a signed lease, the move in date was scheduled for June 23rd.
We called the other Realtor on Saturday to confirm the walk through,we agreed to meet Sunday morning at the home.
The other agent and the owner had no idea the former tenant was still in the home.
They were supposed to vacate last Wednesday.
The landlord was mildly shocked, the tenant was visibly upset and the former tenant was asleep and refused to "Get out" insisting they had no where to go!

The conversation is as follows:
Sleepy Tenant: I`m not leaving, i have no where else to go!
Landlord: Move into a Hotel. This is my home!
New tenant: I start my new job on Monday. I need to move in today.
Me: Let`s call the police. The former tenant is trespassing.
Sleepy Tenant: Why are you throwing me out?
Landlord: Our lease expired,we sent you your security deposit! You have to leave now.

For the next two hours we stood outside awaiting the former tenants next move. The landlord contacted the police. The new tenant began to move in, the former tenant remained in the house, pretending to vacate,but moving at a snails pace.

It reminded me of an Al Pacino movie entitled "Dog Day Afternoon" as we attempted to negotiate with the former tenant.
After much discussion and with the Broward County Sheriff's Office persuasion the tenant relented and finally moved....

Foreclosure Insanity.Billions in inventory sit! Why are the banks sitting on these homes?

2008-06-22T07:00:00.000-07:00

We`re looking at 16 transactions awaiting the lenders approval to close!
The amount of time the lenders take is really incredible.
We have 3 "All Cash Offers", while others are near asking price, yet they sit idle,waiting for the "Loss Mitigation Depts." to make a decision.

I`m really tired of hearing the Media reports about the increase of Foreclosures,yet doesn`t make an effort to report the other part of the equation.Is it any wonder people are scared?!

The entire system is in turmoil, and BILLIONS in inventory sits!
The typical scenario,normally takes the lenders 4 weeks to review an offer, 2 weeks to order a BPO, another week to review the BPO, another 2 weeks to decide.
It takes 9 weeks for the lenders to move,why?

Most buyers are willing to wait 30-60 days to close!
Why should the buyers be burden with this mess?

Once upon a time, Countrywide loan officers would brag "How they could approve a loan in 24 hours and close within 72!"

Today, we`re lucky to know the name of the person we`re dealing with on the other end of the telephone,because majority of the time their in meetings or simply don`t respond to you. EVERYTHING is done by emails..

There`s no excuse for inept decision making.

The truth is there are BUYER~S looking at these homes, the problem is the BANKS are turning these people away as if they don`t want them to purchase!

The media is killing the housing market. People are walking away from their homes for all the wrong reasons now!

2008-06-21T03:09:00.000-07:00

When people listen to the media they start believing all the "Doom and Gloom".
Many continue to listen to "Housing Reports" and start thinking "Maybe i should walk away from my home".
It`s happening more and more.
Yesterday I saw it up close..
I went to a listing appointment in Hollywood, Florida where the home in question was purchased 5 years ago.
The seller purchased the home before the market went off the charts! Their mortgage is $1250 per month.
The couple who own this home told me they "No Longer" want to continue with the mortgage payments.
They called the lenders asking them to "Take back the home"..
They believed the market would tank further, in their minds it`s easier to walk now before it`s too late.

It`s not good sound logic, yet these people were under the impression "The Sky was falling!"..

The Conversation is as follows:

Me: You owe $99,000 on your home. Why go into default now?
Sellers: We watched our home drop almost $130,000. It`s not worth keeping anymore.
Me: You bought the home for $140,000, it`s beautiful.
Sellers: Yeah, we`re watching the TV, we`re afraid the prices will drop even more!
The economy appears to be heading into the abyss.
Me: You have a very inexpensive mortgage. What do you think you can rent a home for?
Sellers:We don`t really know,but we`re afraid of what might happen.

Everyday across America people tune into the news. The media pundits on TV like Jim Cramer encourage people to walk for all the wrong reasons.
If you`ve ever watched Cramer speak it appears he`s on heavy medication.
Yet, they allow this "Talking Head" to scare the daylights out of people.
Naturally Cramer isn`t the only one.

People believe what they hear more often than not! They worry about the chaos of the world and sooner rather than later it hits home.
In the case of these sellers, it`s hit them right where they live!

How many different hats do you wear in running an office?

2008-06-20T03:24:00.000-07:00

Yesterday, we executed a contract for a home in Boca Raton,Florida.
Our agent requested the HOA docs and was told we would receive the Docs the day of closing which is a major No-No...
Our agent got into a "heated Discussion" with the other agent so i decided to intervene.
Clearly, the other agent was incorrect.
I wear many different hats in our office.In many ways our job is similar to that of a referee...

If you`re running an office your job is to "Put out fires" as they arise.
I know i`m available to assist our agents 7 days a week, with an open door policy.
Our agents are comfortable knowing there`s someone around to assist them.

Richard Weisser wrote Are things really looking up? Well, maybe that's entirely up to us!
His post was about "Attitude" which is dead on!

In today`s business world there has to be a "Leader" who`s job is to be like a "Father, Son, Shrink, Confident,Judge,Motivator", basically a person who wears many different hats...
Running a Real Estate isn`t easy, it requires skill and a deep understanding of how to motivate your agents.
We`ve survived because we`re able to assist our agents and do whatever it takes to get the job done!

Experience is not required to become a Florida Real Estate Broker. The rules need to change!

2008-06-19T03:37:00.000-07:00

That`s right! In Florida the law allows you to become a Broker by obtaining an associates licnese for one year and passing the 45 hour post licensing requirements.

It doesn`t take into consideration to become a Broker you need to have experience, especially if you want to run an office.

That being mentioned we`re attempting to negotiate an offer with an agent who is on sabbatical.
The agent seems to have left the business! It`s been 10 days since we sent an offer to the office. No Luck!
Yesterday, I decided to call the office to see if the Broker was available.
As luck would have it they were in.
I immediately got into my car and went with the intentions of finding out why our offer wasn`t yet presented.

The Conversation is as follows:
Me: We`ve been looking for response from the seller of this property. We`re told the agent is no longer available.
New Broker: Yes, that`s right. We can`t present without the agent. It`s not right!
Me: Not right!? The agent is MIA, you`re the Broker of record to this office. You can contact the seller right now!
New Broker: It`s not my listing, I really shouldn't`t be involved.
Me: Wait a second, you`re the Broker, guess who owns the listing?!
New Broker: The agent!
Me: No you do! You can call the seller and present the offer.
New Broker: Who told you that?
Me: How long have you been in the business?
New Broker: I`ve had my license for two years, but don`t have much experience.
Me: So you still went ahead and took the Broker`s exam?
New Broker: Well, my husband couldn`t pass the test, so I took the class than the state exam and passed.
Me: who runs this office?
New Broker:Actually, my husband, but I`m the Broker.

It`s quite amazing, I`m in the midst of losing a client because the Broker of record doesn`t know the rules. The office is left to a person who was able to pass the State Exam, but doesn`t really understand the rules.
There`s something very wrong with this picture. Brokers should be required to have a minimum of 5 years experience in this business.
You can be a broker by default i guess!
I left the office shaking my head,not knowing what else to do!
Sad,but very true!

when FEEDBACK becomes annoying. How do you handle the situation?

2008-06-17T03:54:00.000-07:00

Last week we showed a home in Miramar which our client wanted to view.
It was a nice home but, needed some work inside.The client decided to view others on our list.

That night I received a call from the Listing agent who wanted Feedback.
We told the agent what our buyer thought "Thanked Them" and hung up.
I believe Feedback is important to a point.It allows the seller to have an understanding what others think, about their home. Some sellers enjoy the opinions, others get insulted, we`ve all been on both sides of the fence.

On Saturday, we received another call from the same agent once again requesting Feedback, for the same house.
I told the agent for the second time the buyer wasn`t interested in the home.
"Thanked Them" again and hung up.
I thought it was rather odd,maybe the agent forgot they called,who knows, i didn`t really mind.I felt the agent was dong a good job.

Yesterday, guess what happened? We received a call from the Agent asking a 3x time Feedback from a home we`ve already discussed twice before!!

This time I told the agent not to call again in regards to Feedback.Now they were annoying!
The conversation is as follows:
Me: Why are you calling me a third time?

Feedback Agent: My seller wants to know if we can convince the buyer into purchasing our listing!

Me: You`ve called 3x`s whats changed?

Feedback: Nothing, i figure since you`re only the 4th agent to see our home, we`re trying to sway you into showing our home once again!?

Me: For What? The home needs work, the buyer was indifferent to the house, please stop calling me!

Feedback: Please tell the buyer we`ll do anything they want! I`m getting alot of angry telephone calls from the seller.

Me: So why take it out on me?I`m only doing my job which is to show the buyer homes of interest.

It`s becoming a tough market for everyone, sellers want answers, buyers want bargains and the Realtors are attempting like crazy to satisfy all parties involved.
Anyone who thinks our business is easy, guess again!

Monday is the most important day of the week in Real Estate.

2008-06-16T03:13:00.000-07:00

I love to start my Monday`s early!
I know many will disagree with me but I truly love Monday!
To me Monday`s really gives me direction on how the rest of the week will turn out.
That`s why I love getting an early jump on the day.

I awake each morning at 5AM and begin answering emails. I have a habit of getting everything i need to complete by 10AM,leaving the rest of the day available to what needs to be addressed in our office.

I`ve learned to be flexible.
Everything we do is planned in advance.
I schedule our listings appointments, buyer`s and investors presentations in advance so if any changes need to be made or adjusted we`re not rushed nor is the allotted time we spend with our clients.They deserve our full attention.
Preparation is crucial in delegating and motivating those who work with you!
I`ve noticed how it rubs off on others as well.
If you`re motivated many of your agents are as well.
How do you begin your Monday`s?

Beware of Agents who are Gaming the MLS!

2008-06-15T12:02:00.000-07:00

It clearly states on the MLS this home is listed for $239,000. It`s a 3bed,2ba,2cg home in mint condition with an in-ground pool!
The remarks don`t indicate the price is a starting point, the agent has 4 offers on the table and is bragging how they "Fooled Everyone" into believing this was the actual sales price.
I kid you not!
The new game of misusing the MLS is upon us and appears will get much worse before it gets better!
We called the agent this morning to show this gem.
The Agent began to explain the price wasn`t the Actual price,it was a way of attracting buyer`s.

It`s fraudulent at best,as I questioned this agent for more details they told us their broker gave them permission to do this!

The company is a national company which if true, encouraging agents to give out false information on the MLS could lead to major headaches down the road..
Many agents use the MLS to attract buyer`s at any cost not fully rationalizing the implications this can lead too...
After all the MLS feeds are placed on Realtor.com within 24 hours.
Deceptive practices hurt the entire industry.
Either way be careful if a home is priced out of the ordinary, make sure it`s real!

Majority of Realtors understand the Short Sale process can take 90 days or longer to close.

2008-06-14T06:32:00.000-07:00

Recently, we`ve received a rash of Realtors who continue to send us offers for our SHORT SALE listings, with closing dates which become unattainable.
It`s impossible to have a closing in 30 days or less with contingencies.
That being said an offer came to our office yesterday with a closing date of 20 days.
I wish we could accommodate the buyer, the lenders are not capable of moving this rapidly, which is one major headache in itself.
I`m not in any position to "MOVE THE MITIGATION" departments because they can take up to 72 hours to return a call.
We called the buyer`s agent and naturally, they weren`t aware of the amount of time necessary to close.
With "Foreclosures and Short Sales" on the rise, you would expect the lenders to have their collective committees streamlined and ready to react to any and all offers.
The system is in dire need of a major overhaul, whether it`s inside their intuitions or privatized.
In the meantime, I continuously feel like a gun is placed to our heads each time an offer arrives....

Trulia Voices can be a source of misinformation! Be careful what you tell potential clients.

2008-06-13T03:14:00.000-07:00

Warning: Advice & Opinions on Trulia Voices can become a vast source of misinformation.
We had to attend a mediation hearing yesterday with our client because of an escrow dispute.
Apparently, the buyer decided two weeks before closing they no longer wanted to purchase a home.

They sought other Realtors opinions on Trulia Voices for a way out of a binding contract.
The buyer was under the impression they could simply walk from the contract, demand their escrow back ith no problems!
Part of the reason was based on information they received from other Realtors who gave their opinions on Truila Voices.
It seems the buyer sought these opinions on-line from other Realtors who explained to this particular buyer they believed it would be alright to terminate the contract based on the belief the buyer wanted to place a new offer on another home.
One thing lead to another, naturally the seller believed the buyer was in default.
The seller instructed the Title Company they would not agree to a "Release and Cancellation" of the executed contract signed by both parties.
The two parties went back and forth,eventually we ended up in court settling the escrow dispute in front of a mediator.

The buyer should have contacted an attorney,but that`s another story.
They did use information they received from Trulia Voices as part of their case, that was a huge mistake.

In our opinion we have read too many comments on T Voices from Realtors who quite frankly are not qualified to givefactual information.They shouldn`t become Realtor Advocate`s which is troubling.

The opinions given on T Voices are an opinion,but,when you start advising people to walk from a transaction, I have to question the actual motivation of these Realtors.

In the case of this buyer, they spoke to another Realtor who assured them, they can "Get Out" of our transaction.
They didn`t explain the actual process of what might transpire or where it would lead too.
It lead to a "Hearing" which is the last place anyone really wants to be!

FSBO believes they can sell a home TWICE!

2008-06-09T03:48:00.001-07:00

It`s important to really know what a contract is when selling a home.Many think our jobs as Realtors require little or no skill.
We showed a home yesterday which we have listed. Next door is a FSBO who approached us about selling their home.
We met a few hours later,to discuss the best strategy in marketing the home.
After 20 minutes the FSBO wanted to know if we could "Sell a Home" which is already in contract!
That`s a hard one to beat! As i asked them a few questions I began to realize they wanted to sell their home twice.

The Conversation is a follows:
FSBO: We made a horrible mistake! We feel the contract we signed two weeks ago should be "Null and Void" our attorney disagrees.

Me: You`re under a contract, it`s binding. We can`t list the home if it`s already sold.

FSBO: Why not?! We`re going to stop the sale of our home, we were cheated.

Me: Cheated, how? You signed the contract knowing full well what the sale`s price was, right?

FSBO: We didn`t think these people could qualify! We don`t want to sell now, it`s our right to change our minds.. What kind of a country is this?!

Me: I don`t know what to tell you! We can`t sell a home twice, it`s illegal.

FSBO: My wife and I won`t go to closing!

There is a fine line when it comes to executing a contract.

Often FSBO`s get into trouble because they`re not quite familiar with a contract. In this case, the FSBO now feels cheated for naming a price, agreeing to sell and feel it`s within their rights to cancel a contract.
Good Luck i told them as I started for the door, shaking my head in disbelief...

More and more people are considering moving closer to their jobs.

2008-06-08T03:10:00.000-07:00

As gas prices continue to head higher many people are starting to feel the crunch in their pockets! It`s not good!
Some are seeking alternatives which means moving much closer to work.
This past month alone we`ve received inquiries from residents in Palm Beach who commute to Broward. They`re looking for homes in the area they work in.
The average ride from Palm Beach to Broward is normally 120 miles round trip.
Multiply that per week, Majority are having a very hard time factoring these additional expenses.
It`s unrealistic to believe this country will be able to sustain itself with higher costs.Something has to give!
Gas prices are taking a toll in our state, and country.
The cost to operate a vehicle has become an expense endeavor for most of us.
More people are back to "Car Pooling" while others have begun to seek mass transit to offset the cost of riding in their cars.

Within the next few months it`s going to get worse, moving closer to places of work makes financial sense.

About Florida List For Less Realty,Inc.

2008-06-07T15:20:00.001-07:00

Florida List For Less Realty,Inc. is a full-service real estate company that owns, acquires, develops and manages office, retail and multi-family properties throughout the state of Florida..
Since its founding in 2005, Florida List For List For Less Realty,Inc. has developed, restructured or acquired properties in the South,Central, West Coast,and North Florida.
Florida List For Less Realty,Inc. has four integrated areas of business focus:
Property operations: A geographically diverse portfolio of properties in which Florida List For Less Realty,Inc. owns an interest in or manages. This includes rental operations, property management, asset management, and leasing
Property acquisitions: Florida List For Less Realty,Inc.has an active and successful record of acquiring properties both for its own account and that of third parties, targeted at three categories of properties: “core,” consisting of properties that are stabilized at the time of acquisition; “core plus,” consisting of under-performing properties that we believe can be brought to market potential through improved management; and “value-add” properties, requiring redevelopment, repositioning and investment to achieve desired returns
Property development and redevelopment: Our senior management team has significant experience pre-leasing and developing or redeveloping commercial space in various parts of Florida specifically in Broward and Marion County.
Investment management: Florida List For Less Realty,Inc. advises institutional investors on property portfolios.
Florida List For Less Realty,Inc.maintains offices in Florida.

About Us:
The company provides home sellers and buyers with an innovative real estate solution. By using the efficiencies of the Internet, we have streamlined the real estate process and are able to pass significant savings on to our clients. Our licensed Agents have years of experience in the areas they serve, allowing you to save thousands, without compromising on service. Our company trademark is "Pioneering the New Age of Real Estate" which we believe we are.
Mission StatementTo create an enjoyable, convenient, and affordable home buying and selling experience by providing innovative Internet solutions and excellent service.
Our ServicesOur neighborhood Agents have years of experience in the areas they serve and are active members of their local, state and national real estate and MLS associations. In addition, our website provides a step-by-step approach to guide our clients through the home selling and buying processes.
Our HistoryOur company was founded on the belief that selling or buying a home could be faster, easier and more efficient. On August 29, 2005, this belief was turned into a reality when Florida List For Less Realty,Inc. was launched. Three days later, on November 15th,2005, we celebrated the acceptance of its first real estate offer. Since then, the company has continued to expand its services, offering excellent service, savings, and convenience to clients nationwide.
Profitable Lead GenerationToday's brokers and agents are seeking to align themselves with a company where leads are supplied to them.Our system is geared towards these Realtors.We offer superior web marketing that generate consumer inquiries. Our agents have pre-set appointments thereby concentrating on sales rather than cultivating clients.
Technology and Web Sites:
Florida List For Less Realty,Inc. web technology offer`s the consumer a wide variety of opportunities using IDX and the MLS directly from their home.
We offer:
On line listings manager.
Personal Web site builder with full MLS integration
Complete contact management
Online and print flier generation
Presentation builder
Transaction management
Online forms
Electronic faxing
Web mail with mobile device synchronization
Online reporting and commission tracking
Print, TV and radio ad wizard
Tools for blogging, podcasting and Web video
Web sites:
1- http://www.listfloridahomesforless.com/ site receives 10,000 unique visitors per month.
2-www.browardbesthomes.com one of the leading sites in Dade,Broward and Palm Beach for web traffic.
3-www.ocalabesthomes.com,top 20 in google and yahoo placement in Marion County,Fla.
By offering a "Full Service Discount" concept to the Traditional side of Real Estate the company soon filled a niche to those who were seeking to both buyer`s and seller`s.
The concept has proven very successful. Sellers seek to receive a discount when listing a home and buyer`s expect a rebate when purchasing.We offer both. We work closely with mortgage lenders as well as Title Company`s and offer a complete "Turn Key" experience for the prospective clients.

Marketing for Builders and Developers.
In 2005, the company began working with major builders( Mercedes Homes, DR Horton,Kinder Homes) in the process of marketing excess inventory from builders and developers.Our marketing programs have assisted these builders by releasing inventory which had been on the market for longer periods of time. In many instances we located investors who were purchasing in bulk at prices below appraised value.
We have an on going relationship with these builders and continue to market their services today.

We have combined both Retail Marketing and Investment Opportunities to consumers who we`re looking to capitalize on purchasing both Foreclosures and Short Sale property with huge savings.
The company primarily targets Foreclosures,Short Sales, REO, Corporate Relocation`s, and Executive Rentals in South Florida, Orlando and Marion County.
By concentrating on these properties we`ve developed a working relationship with many major lenders who seek our services to market and sell these properties.The company has 65 "Full Time" Realtors in Florida.
Rather than charge the agents a traditional desk fee, the company charges a per transaction concept.
Expansion and developing new agents:
The "Virtual Realtor" concept is in it`s infancy, the company believes they can capitalize on this trend by offering agents a "higher commission split" while receiving a $395 transaction fee paid at closing.
It is our opinion we can grow this division upwards of 300 agents within a two year period.

Sales and Projections:
Since January of 2008 the company has completed $7 million in closed sales..Our total sales since 2005 has been $40million.
With the Sunbelt States leading the new employment market we believe Florida poised for continue growth.
The trend of foreign investors are most nobably from England and Germany.
The Florida housing market has exploded over the past 10 years. Despite record-setting hurricane seasons, Florida remains a top property market, particularly for foreclosure investing.

Property Management:
The company has been actively involved in property management of strip centers located in Broward County, Florida. We hold a Community Association Manager license.

Rental Properties:
The company generates $88,000 per year from rentals.
The rental market continues to grow.

Franchise Opprutunities:
The company believes our concept of marketing Real Estate is a perfect oppurtunity to explore the possibilities of marketing Franchises to interested parties.
In our opinion we can develope between 5-10 new franchises within the first year.

Future:
The company plans to Open in other states. We recently expanded into North Carloina.It is our opinion the "List For Less" marketing concept will be well recieved in other states.

Investment and Operating Strategy:
The company`s primary investment goal is to invest in assests that provide the opportunity for cash flow growth and capital appreciation in real terms.
Our strategy is to achieve this goal includes the acquisition of income producing properties at attractive prices,the development of property presently owned by the compny which includes commercial and residentail properties and the lease up of Future develpoed projects.
The company may also make selected sales of assests.
In addition,the company engages in strategic planning with the view to focusing its business plan of growth.

In the future years the company will concentrate it`s efforts principally on the development of high quality commerical office buildings.A significant part of the company`s growth will be to enter into joint venture arrangements with financially strong business partners that will become tenants for a substantial porion of the space as well as co-owners.

Subconsciously do some Homeowners really want to sell?

2008-06-07T03:37:00.000-07:00

We received a call yesterday from a client who wanted a status report on their home.
I thought it was a bit odd considering this seller has missed 3 different showings because they weren`t home, weren`t ready and forgot to be home when an appointment was confirmed.
Sellers are by all means entitled to accountability from the people they hire, but in all sincerity, our responsibility as Realtors ends when a person refuses to let someone into their home.

After 10 minutes of discussion we mentioned using a Lock box in order to insure Agents can gain access to the home, the seller politely refused, believing Buyer`s would work around the sellers schedule.
It`s not realistic!

Upon further discussion I told the seller this will probably happen again.

The market is experiencing radical changes, interest rates inching higher, less people viewing homes because of gas prices and the flexibility to allow someone into you`re home is most important.

In all likelihood, I doubt this seller truly wants to sell!

Expansion continues to surge in South,Central and North Florida.

2008-06-06T03:07:00.000-07:00

Take a drive on the Florida Turnpike from South Florida to Orlando and see for yourself what`s occurring.
Whether it`s commercial development or residential property the State seems to be attracting new business and residents.
I realize we`re in a recession,but within the last 8 months it appears many believe we`re coming out of an economic funk which has plagued this state for 2 years!
Florida is a growing state in spite of what the media expounds.
The growth rate in our state will continue.

Florida's economic growth is one of the success drivers for businesses that choose to locate in Florida. With a growing consumer market, an expanding talent pool, a supportive government and a strong asset base, Florida offers companies the right conditions for long-term success. The state’s vitality and economic growth are evident in its strong business and economic indicators.

Florida’s booming economy supports a higher standard of living. The state's total personal income lands it at the #1 spot in the Southeast, and its 2006 per capital income of $35,798 places it at #2 in the Southeast and #20 in the nation.
Florida's economy encourages the growth of high tech companies. Florida led the Southeast and ranked 4th nationwide in high tech employment in 2006. Some of the other industries that have recorded significant economic growth in the state include professional & business services, trade, transportation, construction, leisure and hospitality, education and health services, and others.
Florida leads in international trade and investment. The total value of merchandise trade flowing in and out of the U.S. via Florida has nearly doubled in the last decade, reaching $109.75 billion in 2006. Similarly, total foreign direct investment (FDI) in Florida reached $35.3 billion, making Florida one of the top states for FDI and FDI-related employment and further boosting the state's economic growth.

Favorable Business Climate: Florida is consistently ranked as one of the top pro-business states, and for a number of good reasons. It has a favorable business environment, with a low corporate income tax rate and no state personal income tax. In addition, Florida offers competitive cost-of-doing-business, especially when compared to other high tech states. The state is also one of only a few right-to-work states in the U.S.

Proactive, Pro-business Government: Florida’s government and economic development leaders are working together to ensure the state’s economic growth and competitiveness by implementing needed legislative, fiscal and marketplace initiatives. From tort reform targeting rising insurance and worker compensation rates, to building a strong culture of preparedness, and providing targeted industry incentives, Florida offers businesses the right conditions for success and growth.

Competitive Edge in Innovation: Florida is one of the emerging forces in the Innovation Economy due to the state's sustained efforts to create the right conditions for creative, knowledge-based businesses. The state is strategic about its economic development activities, which include funding research & development, attracting venture capital, building state-of-the-art infrastructure, fostering innovative high tech firms, and preparing the qualified workforce to work in them.

Virtual Office concept catching on in the Real Estate Community.

2008-06-03T04:22:00.000-07:00

We`ve added 7 new agents in the last 30 days. Many of these Realtors are experienced agents seeking to locate a company to work from and maximize commissions.
With the economy shifting many of these agents are working from their homes conducting business.
Many have expressed to us the "Franchise" concept is not working as it once was, nor do they need the support they once did.They feel additional fee`s have eaten away their commissions.
The Virtual Office Concept isn`t for everyone. Some agents need to be motivated each day to go to work, others need the camaraderie of the office atmosphere.
The virtual office allows the agent to structure an individual business model and become more accountable to themselves not the Franchise.
As the shift in Real Estate continues we`re looking at an increase of Agents working under the VO concept.

There are No Such Things as a MAYBE OFFER!

2008-06-02T03:11:00.000-07:00

Our offer for a Corporate Relocation was placed last Thursday.It`s a strong offer with no contingencies.

The Listing Agent sent the Corporate Addendum,which our buyer agreed to sign.

We heard back from the Listing Agent last night. They wanted to discuss our offer for the 3rd time in three days.
I`ve written thousands of offers, I`m very familiar with "putting together" an offer,so became very curious where this agent was coming from.

The Conversation is as follows:
Listing A: We were wondering can you`re client "Up the offer?"...

Me: Did you receive a counter offer from the Relo Company?

Listing A: Actually No! We may have another offer arriving within the next day or so..

Me: A MAYBE OFFER? You`re kidding me, right?

Listing A: Well, it would be better if you spoke to the Buyer just in case!.

Me: You want me to call our buyer and tell them to Up an offer based on a Maybe Offer, is that right?

Listing A: Yeah! That way your Buyer can be assured they have the home!

I don`t about you, but there is no way in God`s Green Earth I`ll call a buyer and explain to them increase their offer based on a "Maybe Offer" that hasn`t yet arrived...

It`s like biding against yourself.

Think Experiences doesn`t count? Guess Again...

2008-06-01T05:17:00.000-07:00

Sometimes people list homes with their relatives and friends. They don`t really know if they`re qualified or not.
Selling a home involved in a "Foreclosure or Short Sale" requires someone who has experience in dealing with these type of transactions.
Bringing the home to the closing table is difficult,it requires time and the knowledge to ask the right questions to the lenders.

Two days ago a client came to our office seeking advice on how to proceed with a short sale that has been in limbo for 7 months! Apparently, the reason the sale hasn`t been approved is due to "Sale Price, Liens placed on the home by the HOA and citations from the city of Davie, Florida.
The agent who took the listing wasn`t too familiar with dealing with liens,nor did they know about the citations the city levied on this home.
They also didn`t recommend an attorney who could assist with the transaction.

The owner has been served with Foreclosure and will eventually see their home sell on the court house steps.

Could this have been prevented?
When dealing with a "Short Sale" the first 60 days are crucial! Either you`re satisfying the lender or the HOA within that amount of time or face the possibility of not closing.
Lenders, have committee`s who prioritize homes with the right paper work, they don`t like to chase paper work. In the "Loss Mitigation" department papers tend to get lost or misplaced on a daily occurrence.

Without the correct follow- up, it`s almost impossible to get these transactions closed.
The seller who came to our office needs to hire an attorney to deal with the city and the HOA.
Had this been done once they received the offer, i`m positive this home would have closed already.
The hiring of a Realtor does matter.

Sellers feel our job is to assist them Financially in selling their home!

2008-05-31T01:42:00.000-07:00

I don`t own your home, you do!

As I sat at a listing appointment yesterday, I wondered why the sellers kept insisting I help offset the costs of staging and repairing their home!
It seems odd yet, they wanted me to assist them financially with the repairs of this home in order to gain a new listing..

A strange request but an occurrence that seems to be happening more often than not!

Sellers in today`s Topsy Turvy Real Estate market believe the agent they hire, "lower their commission structure because the price of homes across America have dropped, pay for the staging of a home, due in part because it`s considered part of the cost marketing a home and help with minor repairs in order to have the home sell in a timely manner.

This strange occurrence seems to be part of the "New Trend" of sellers who feel our job is to not only to work for them,but to assist paying for them as well.Nice concept,i guess!
Hence you`re either part of the actual sale and the responsibilities of assisting them or you`re not!
I decided not to accept the offer .
My attitude is simple "I don`t own you`re home, you do!"..

Our job is to market and sell a home,many sellers are at a point where they believe it`s a "Team Effort", therefore part of the costs of saleability are your`s mine and ours.

There are a few Realtors actually "Buying" into this new concept,agreeing to assist these sellers in order to gain the listing.

Whether they`re actually kicking in financially or with Muscle is an entirely different story.

It`s easier to make up you`re own rules in Real Estate, I guess!

2008-05-30T03:29:00.000-07:00

The Rules of Real Estate seem to be tossed aside in many instances. I always thought when a Realtor contacted another Realtor they identified themselves, not anymore!

Last night one of our agents received a call from a person who was interested in viewing our listing. They went ahead and scheduled an appointment to view the home.
The agent asked all the "Right" questions to this person assuming this person was a "Buyer" not a Realtor".
When our agent went to the home to meet what they thought was the "Potential Client" , they were greeted by the Realtor and their client!
Apparently, the person who made all the arrangements to view the home didn`t realize they had to identify themselves as a Realtor.Hard to comprehend!
Our agent was upset, I don`t really blame them, the other agent thought nothing of it!
They wanted our agent to open the door and leave!

More and more we`re receiving very strange requests from those who aren`t trained. For example on the MLS our showing instructions clearly state to contact our "Listing Office" for all showing instructions, think it happens? We have agents contact us for directions to a property when it clearly indicates on the MLS how to get there, often times agents seem to not know how to open a Lock Box,forget about placing a CBS code on your ELBX.
When it comes to writing offers, many agents seem to forget sending a pre-qualification letter, escrow letter and closing date.
The rules of Real Estate seem distant to many!

I guess it`s easier to "make up you`re own set of rules" and get peeved when others don`t follow them!!
Scary, when it comes to having a Realtor return your call! Many seem to be too busy!
It`s happening more often than not!

Having a license is one thing, not knowing what you`re doing is another!

How do you explain to a Buyer "If you play you pay?"

2008-05-29T03:38:00.000-07:00

We`ve dealing with a buyer who has been looking for an angle not to close. They`ve been giving us hints for the past three weeks.

Words like "Bad Karma, Commitment, and Detached" have been told to us!
We`ve explained, we have an "Executed Contract" and a "Mortgage Commitment". We`ve also explained if they prefer to "Walk" it`s perfectly OK, except they`ll loose the escrow deposit.
The Buyer refuses to believe they`ll lose the escrow and true to form made good on their word and refused to close!

We expressed our deepest regrets to the Listing Agent, sent our Buyer an email suggesting they hire an attorney to resolve the issue. The buyer feels it`s our responsibility to "Fight for the escrow".

As a Realtor our job is to advise a client in a professional manner. If a client refuses to understand the truth where do we as Realtors draw the line?

It`s impossible to tell a person about an "Executed Contract" when they refuse to read what they signed. No matter how many times we go over a contract or even an offer, if a Buyer decides not to close the ramifications which transpire are who`s responsibility?

Back to the buyer, they called yesterday asking us to once again retrieve their deposit. I asked the buyer a simple question" What are the exact reasons you don`t want to move forward?"
The buyer was puzzled. "I don`t have any they responded".
That`s the problem "When you play sometimes you pay!"....

visit us @ http://www.listfloridahomesforless.com/

Who`s on First?Five weeks later Bank wants to know what happened to the Buyer?

2008-05-28T03:47:00.000-07:00

During the last two years I`ve written about our experiences with lenders in regards to both Short Sales and Foreclosures in Florida.
I`ve written about the incompetence many lenders demonstrate when it comes down to accepting an offer.
I`ve dealt with lenders who have countered on "All Cash" transactions by thinking their smart upping an offer $5000 in hopes they could squeeze the buyer.
I`ve had lenders forget about "Offers" sent to them, than order a BPO only to have the buyer leave in absolute disgust!

Yesterday,we had a lender contact us about an offer they rejected 5 weeks ago, asking us "What happened to the buyer?".

We had our attorney contact them only to find out someone inside the bank actually goofed and accepted our offer, one problem, they forgot to tell us!

In January we had a qualified buyer make an offer to purchase a home located in Davie, Florida. The home was a foreclosure. The asking price was $395,000, our buyer countered at $335,00. A very fair price.Weeks went by without any communication from the lender.Finally, after the BPO was ordered the lender sent us an email countering at $350,000. We called the buyer who was truly interested in purchasing the home,they decided to counter at $340,000. We sent the lenders our counter within 24 hours.
After we continuously followed up for 3 weeks, the lenders rejected our offer and were sticking to their guns.

The buyer walked away from the home, we notified the lender the deal was terminated.
Many of you realize the amount of time,money and effort involved to "Close" this type of transaction. After all when the bank rejects an offer, there isn`t much you can do to convince them. They play by their own set of rules.

We received an email yesterday asking us when we`re closing on the home in Davie. Apparently, the bank had a change of mind and finally agreed to the Buyer`s offer of $340K. They claim they notified our office and the attorney weeks ago, except neither one of us ever received the "Acceptance".
The buyer located another home, the lender could have had this home closed 5 weeks ago, except now we`re back to square one.

There`s no rhyme or reason as to how a Lenders Operate.
I can only tell you about the chaos that must be happening inside the banks when it comes to deciding when to Close out a file!
Don`t think for a moment the lenders are organized! I assure you that`s not the case, after watching them fumble a transaction like this I realized the Foreclosure market is a game of "Hit or Miss"...

Goat Herder wants to invest $5.6 Million.What is the Motivation behind these scams?

2008-05-27T04:05:00.001-07:00

I just finished reading the morning papers and had my two cups of coffee for the day.
I begin my day responding to emails. It`s easy to get a "Jump on the Day" by working early in the morning. This morning I received the funniest of emails offering me a chance to assist someone who is affiliated with the Sudanese Petroleum Commission. Nice name, I`m positive they`re an S-Corp working out of a Tiki Hut!
I often wonder the motivation behind these stupid Scams. How in the world, could anyone in their right mind be fooled by these letters offering millions of dollars providing you give them "You`re Bank Account"....
This brazen scamer is willing to "Give Me" $5.6 million in cash no less.... I can picture these guys sitting on a milk crates sending email after email to unsuspecting souls.I`m sure they to it in tandem one letter at a time as the chickens and the goats are left unattended too..... I guess it beats working for a living, who knows..!
Below the email sent to me this AM..

"Dear Sir,
On May 03, 2008 I wrote a mail enquiring if you or your organisation would like to help me to invest and manage a US$5.6 million in your country. I am afraid that you have not received the mail because I am yet to receive an answer from you.
I would deeply appreciate your answer with recommendations on viable investment opportunities in your country with moderate amount of risk and a decent return. Upon our agreement, I shall complete arrangements to move funds over to you either by direct deposit to your bank account or Cash delivery via special arrangement. I am suggesting compensation payment of 20% for you. This amount is the very most I can afford, especially in light of other expenses related to the transaction. Thanks for your anticipated help in this matter. With sincere thanks, Dr. Bullen Bol, MDSudanese Petroleum Commission
Email To:awdmohd60@aol.com"

Smile Your on Candid Camera!

2008-05-25T04:38:00.000-07:00

We try to always accommodate our clients. We bend over backwards in our attempts to make sure they`re properly serviced.
Our agents work in many cases 7 days a week to accomplish this.
Some days we get the strangest requests. Yesterday, while showing a beautiful 4 bedroom rental in Pembroke Pines to a couple we were encountered with the most insane request year to date.
The potential tenant wanted to know if the "Landlord would accept their IOU?"....
No kidding.
The home is listed for $2400 per month with 1st,last and security to move in.
Knowing in advance what the requirements were this couple assured us they had the funds to move in, until it came down to writing the lease.

The Conversation is as follows:

IOU couple:Hey, before you begin, can you ask the landlord if they`ll accept our IOU to move in?

Me: IOU? What exactly does an IOU mean to you?

IOU couple: Well, we don`t exactly have all the funds together until July!

Me: You wanted to move in by June 1st. How much do you have?

IOU couple:Well, ah-ha, huhh, hum, we have $500 to move.

Me: $500 to Move in on a $2400 per month home?

IOU couple: We`re good for it, I promise we`ll pay the landlord...

Me: I`ll call the landlord,but truthfully, I don`t believe this will transpire.

IOU couple: Yeah, we`re having this problem all over town! Nobody wants to work with us!

As I looked around I kept wondering if I was on Candid Camera or something. I kept waiting for the Punch Line,that never arrived!

Are you a Realtor Advocate?

2008-05-22T03:46:00.000-07:00

Why do some Realtors feel it`s their duty to speak for the client,without first consulting the people who they represent?
Many times I often wonder why a Realtor would go out of their way to
"Break a deal" rather than "Make One".

Yesterday, was one of those days in which we had the displeasure of dealing with a Realtor Advocate who tired and tired to squash a simple Rental.

We have a client who is an attorney relocating from Orlando.
They wanted to make sure the home which they were interested in had a few provisions.
One of those provisions were "The Landlord was current in their mortgage payments".
Very simple if you`re a landlord to agree to sign,yet the Realtor Advocate didn`t want to add that into the lease.
After going back and forth for the entire day, the Realtor Advocate finally agreed to let the prospective Tenant and Landlord sit down with each other and work out their differences.

When we arrived to meet the Realtor Advocate and landlord it was very clear the Advocate never really presented our request to the landlord.
Within a grand total of 10 minutes the two parties shook hands and the lease was signed.

Advocates in this business seem to be in "Full Bloom",many seem to continuously speak for themselves,which is a problem.

Gas prices in the stratosphere. Many people look for alternatives.

2008-05-21T03:26:00.000-07:00

If gas prices continue to head towards Uranus many people are forced to view homes in a different way.
If you`re a believer the Real Estate Market isn`t affected by high gas prices, think again.
Many people look towards alternate ways to view homes or at least do a "Process of Elimination".
Now more than ever we have taken Videos of each listing whenever possible.
We`re placing these videos on our Blog, Websites and via email in hopes these potential clients want to view our listings.There isn`t a day that doesn`t go by with someone requesting a video of a home.

Suddenly,potential buyers are asking us for the video first rather than to do a "Drive By". At $4.00 per gallon, we can`t blame them, therefore it`s become a necessity to seek out different marketing approaches.

With this sudden turn of events. I predict more and more consumers will start making offers via the net.
Naturally, they`ll be contingencies to protect the buyer and seller,but in all fairness, this seems to be where the market will be heading.

Gas has become a commodity that many can`t afford.
If prices continue to move higher our entire infrastructure will become obsolete within the next 5 years.

Foreclosures taking it`s toll on Renters.

2008-05-20T03:11:00.000-07:00

With many people no longer able to pay their mortgage, there has been a rash of Renters looking at homes.The increase in renters this year over last has increased.
Competition for rental property has picked up because inventory is scarce.

Rents have increased leaving many people stranded for housing.
College students who once had a vast selection of homes to choose from have been doubling up more roommate's.The cost of a rental has increased 20%.
Many investors have decided it`s not longer feasible or affordable to continue paying on a mortgage that is too high.Many have carried these mortgages for over a year. In some cases they`ve been negative from the beginning.
Others,simply walk away because the banks will no longer cooperate or assist them.
In spite of what you`re hearing FNMA and Freddie Mac aren`t doling out assistance.

It`s becoming increasingly alarming when tenants are living in Rental homes and their landlord is being served a "Default Notice" by the lender. Once the Acceleration process commences there`s no turning back.

The housing crisis is in full swing, without some sort of resolution made in the near future, I predict we`ll see an increase of "Homeless" families in the very near future..

It Takes Two to Tango when presenting an offer!

2008-05-19T03:34:00.000-07:00

Famous last words, right?. How often do you receive a call from another Realtor asking "Is the Seller negotiable?"
Of course the seller is,except you have to place the offer in writing in order for us to present it.
I don`t ever speak for the Seller. Their motivation is different than ours! Many sellers say one thing and do another.
I can`t tell you how many times a Seller has instructed me not to show them any offers lower than "X". What they fail to realize no matter how many times we say it is "Our job is present all offers, good bad or indifferent!

We have a listing in Pembroke Pines. The home has been on the market for 4 months. We`ve had a few showings,but nothing substantial.
The seller refuses to believe the "Market adjusted" and won`t lower the price.
We received a call from another Realtor yesterday inquiring about the home.
We gave them the facts they would need for the buyer.
The Buyer`s Agent wanted to know "If the seller was negotiable?".
I told them to send in an offer and let me do my job which is to present.

I explained to the Agent if they get an offer, we`ll make damn sure our job is done as well.
"It takes two to Tango"....

Sorry it will take us 48 Hours to send a FAX! Any wonder why banks are having problems with Foreclosures?

2008-05-17T03:17:00.000-07:00

This is supposed to be the "Age of Technology".
There are so many bidget's,fidgets,widgets and gadgets to insure our lives are easier.
There are I-Pods, Blackberries, Efax,Email,E-Alerts,Wii, to last all of us 100 years.
There are navigation systems,I-Phones, geared to assist us each and everyday.
Yet, when it comes to receiving a FAX from a lender they seem at a loss for words as to "Why they can`t send a fax in less than 48 hrs".
How is this possible, you may ask?

Are banks simply outsourcing all operations, to a point they`ve scaled down something this simplistic?
Worse, wouldn`t you be embarrassed to share this information with your clients, after all this isn`t the Wild Wild West and the last I checked the Pony Express doesn`t run in Florida any longer.

I have a claim on our roof, the insurance company quickly sent a claims adjuster to our home and within 5 days we received a check. Like most of you the Bank owns part of our home, we pay the lenders a mortgage each and every month.
The check had to be endorsed by the lenders so we made sure all paper work, signatures were "Dotted and Crossed".
We sent the paper work and the check to the lender,made sure we followed up to insure the endorsement would be completed in a timely manner.

We were told by a "Customer Service Rep." the check would be sent back to our home within 72 hours.

We`re still awaiting.
We`re in our 4th week. The lender keeps apologizing, day after day with the mix up, it seems their at a loss for words as well. Endorsing a simple check and placing it back in the mail seems to be a choir.
I didn`t realize the amount of effort involved, who would?

I called yesterday, my 5th day in a row to find out the status of our check and was told they had to resend a fax to the "Roofing Company" who is working on our roof.
They explained it will take them 48 hours to send a fax! to complete this file.

When you think about the "Time and Effort" and realize this is a BANK, you slowly begin to realize the reason the lenders can`t handle the "Collapse of the Housing Market and why inventory with Foreclosures are taking so long!".

If a bank can`t handle a simple task like resending a check in a timely manner, why in the world would they be able to handle a foreclosure? It`s simple, they can`t and now I know why!

Banks Still stand in the way!Investors seeking to purchase property at $.50 on the dollar

2008-05-15T03:45:00.000-07:00

I don`t know about you but there is an increase of Investors seeking to purchase "Single Family Homes, Town Homes and Condominiums" at fifty cents on the dollar.

Majority are willing to purchase more than one unit and have cash available to close quickly.
One major obstacle stands in the way, the lenders aren`t yet biting in many instances.

For whatever reason Lenders treat a "Cash Offer" the same way they treat a conventional loan, it doesn`t make much sense, you would think by now that many lenders are actually looking for "Investors" who are "Ready, Willing and Able" to close within a matter of weeks not long drawn out months.

The handling costs that a Bank must endure to maintain a property is astounding. Insurance, Legal fee`s, taxes, maintenance and manpower add up!
Clearly, these lenders need to commence a separate department to entertain "Cash Offers" or at least know in advance the amount of "Inventory" they have.

I`ve called a dozen lenders in the last 90 days asking if they have an "Inventory Sheet" with Fixed or Set Pricing" the answer is a resounding "NO"..

You would think by now many of these lenders would be "Pressured" by the Fed, to clear out the inventory, yet it`s not happening..

In spite of the rhetorical speeches we hear each week from the Media, nothing seems to be changing and the logjam for "Foreclosures" continues at a snails pace.

My Interactive Real Estate Interview on Active Rain.

2008-05-14T12:50:00.000-07:00

I`ve been on the telephone all day from a subscriber in Los Angles who is relocating to Fort Lauderdale.

They found us on Active Rain.Basically, I was on an Interactive Interview.
This person wanted to know how we deal with Buyers,sellers and other Realtors.
We spent 2 hours on the telephone and another hour on different neighborhoods in Broward county.

The potential Buyer was satisfied enough with our abilities to represent them in the purchase of a home that they went ahead to send us their Mortgage Approval Letter..

In many ways Active Rain is a social network, but quite honestly, the consumer wants to know more about the "Business Side" of you`re social skills..

The Internet has become a wealth of information for the consumer and Interactive Interviews will be part of the new wave of Real Estate Marketing.

On a wing and a pray buyer makes good on his word!

2008-05-13T03:36:00.000-07:00

Two weeks ago, we received a call from a buyer in Wisconsin.
The man was complaining how he had to endure a brutally cold winter and was tired of suffering.
The guy seemed serious enough!
We sent him emails of condominiums located at Hollywood, Beach.
He was looking for a "Direct Ocean View".
Currently, the inventory of condo`s in Hollywood are tremendous.
There are bargains out there! I explained to him he could purchase a beautiful condo under current market value.
His objective was to pay cash and attempt to "Low ball" an offer.
In today`s market it`s perfectly acceptable.

He received the email in which we attached 22 different condo`s.
He was interested in only viewing 1!
In the immortal words of 3 Dog Night " One is a lonely number"....
Normally, at this point you say to the client "Great what day will you be arriving" and call it a day!
Most "Out of State" buyers won`t fly down to view just a single property, it`s not feasible!

To our surprise the buyer tells us he`ll be arriving on Friday to view the condominium and fly back to Wisconsin the following day.

I offer to meet the buyer at the airport and take him directly to the condominium for his approval.

The buyer pretty much "Flips Out" admires the view of the ocean, steps outside the balcony and begins to smell the "Salt Air"...He doesn`t move for the next 15 minutes, not a single word is spoken between the two of us. He keeps looking at the water and the Sky Line of Fort Lauderdale to the north.
Not interested in viewing the rest of the Condominium the guy erupts and tells me he`d like to make an offer.

The offer is accepted the next day, the buyer heads back to Wisconsin. Before we part he "Thanks Me" for taking the time to assist him.

Apparently, he had spoken to 2 other Realtors who basically never followed through.
His appreciation made me realize how important it is to simple get on the telephone and "Follow- Up" with your prospects.
You never know what it may lead too!
I do know one thing "I`m in 7th heaven!"....

New Generation of Realtors Chapt.45.First make offer,than you can view the house.

2008-05-10T03:24:00.000-07:00

How`s that for a change. A home that is facing foreclosure a seller and Realtor who believe a potential buyer should "Make an Offer" prior to viewing a home. Great logic, right?

Yet,as we spoke to this Rookie Agent, I was in dismay and disbelief as he began to explain this tale of woe.
The home is listed on the MLS, there are no "Instructions that state Drive - By",yet as you begin to hear the reasons why, you wonder "How this Realtor" could possibly allow himself to be manipulated by a seller, who in the Realtors words is "Playing Games'.

The home is listed as a Pre-Foreclosure. The Seller, doesn`t want to partake in the sale of his home, they just want to "Live There" until the foreclosure takes place.
The agent, doesn`t want to "Offend the Sellers Wishes', so he`s playing along!

We placed a call to the agents Broker last night informing them of the Shenanigan's playing out with this listing,but as of yet we haven`t received a call and the odds are, we won`t.
In some circles of Real Estate, there really exists an underground of unscrupulous Realtors, who ply their trade as licensed professionals instead of practicing their act in the Circus!

The conversation is as follows:

Me: We would like to show your listing tomorrow.

Rookie: Humm,ahh, well you can`t. You have to place an offer on the home first, sight unseen.

Me: Come Again? You placed the home on the MLS, we would like to view the home,please!

Rookie: The Seller doesn`t want to be disturbed. The home is going pre-foreclosure, and I promised the Seller we would only take "Drive By" offers.

Me: Have you received any yet? The home has been listed for 123 days, you don`t think this has anything to do with it, do you?!

Rookie: Yes, I thought about it!

Me: Do you realize you should place your "restrictions" on the MLS and save everyone the time?

Rookie: I`m only doing what the seller wants. That`s my job!

Me: Your job is to disclose this restriction on the MLS, so others won`t bother contacting you.

Rookie: My Seller would rather live in the house and not be distributed..

In the world of Real Estate you sometimes wonder "If you`ve seen it all", after that conversation, I believe I`ve finally have seen enough....

Married Couple seek out GOD for assistance as they face foreclosure!

2008-05-09T02:28:00.000-07:00

When couples face adversity they sometimes turn on each other! It`s human nature,i guess!
Many times married couples who face foreclosure look to blame one another rather than working together to resolve the problems.
In some instances it`s impossible to resolve a foreclosure.The loss of a home is tremendous on the entire family.

Two days ago I met a couple who are faced with a situation that`s almost impossible to get out of.
Their home they worked so hard to purchase is "Upside Down". The lenders won`t help. They say they can`t offer a reduced payment.

At one point someone inside the bank told them to "Walk Away". It`s that easy.

I guess a "Good solution to a bad problem. No matter what you hear on the TV, we`re still a long way from keeping people in their homes rather than face foreclosure".

Banks have a smoothing effect on people,huh?

Majority of people face long bouts of depression and sleepless nights,not knowing what to do.
They fight each other, because who else can they fight?

The love they once possessed for each other, slowly goes up in smoke as they face the mounting pressure of losing a home!
Not this couple. They spiritually turned to GOD to save them and their family.

They met 18 years ago in New York while attending Queens College.They dated for 2 years and tied the knot right after that.They soon had two children, "Life was good"..
He worked for a huge food conglomerate,she`s a High School Teacher.

They moved to South Florida 4 years ago when the husband was offered a job promotion.

Unfortunately,like many couples they purchased at the "Height" of the Real Estate Market!
Sound familiar?

The home they bought has decreased in value, it`s worth approximately $90,000 less than what they originally paid for it. Needless to say, they fixed the home up,took out a "Home Equity" line as well.The lenders actually encouraged them to take out the "Equity Line" soon after they bought the home.

With the mortgage payments mounting, the high cost of feeding a family, insurance, and gas, they had to finally make a decision.

They stopped paying their mortgage in December of 2007.Last week Broward County served them with a "Notice of Foreclosure".

We spoke for several hours and they listed with our company. The wife told me they were nervous,upset,frightened,and for awhile.

They blamed each other.It was really bad for two months the wife explained to me.
She had an affair! He began to drink heavily.

They finally decided to turn to GOD for assistance.
Since then, their "Strong Bond" they once had for one another became stronger.
"We tired to fight to save our home" the wife explained."We`re embarrassed by the entire situation, we have to feed our children and can no longer afford our home".
The husband told me "Our Love and dedication for each other became alive again.In spite of all of our insurmountable problems, we`re more in love with each other,more than ever before".

Call to arms! New York on the right track.Foreclosures delayed.

2008-05-08T03:18:00.000-07:00

At least one state is attempting to right what`s been all wrong in the foreclosure market.
The New York State assembly yesterday passed legislation to impose a one year delay on foreclosures when homeowners default on their mortgage payments.
The bill will attempt to limit the impact in New York with so many of it`s residents losing their homes.

The sub-prime lending market has taken its toll throughout our nation. With the mortgage industry aggressively marketing mortgages with "TEASER RATES" that made buying a home "Too Good To Be True".
Many times these loans were designed to automatically place an unsuspecting Homeowner in a comprising position.

In Florida we deal with "Homeowners" everyday who are experiencing the loss of a home.
These people bought homes with all great intentions only to have their homes become worth less and their actual value in the stratosphere.
It`s almost impossible to predict the Fall Out,but this type of legislature is a step in the right direction.
Hopefully, our state will come to the rescue of it`s residents as well..

Lenders are requesting the Flat Screen TV`s ,Furniture and other personal items to satisfy the Foreclosure.

2008-05-07T03:31:00.000-07:00

We received a new listing yesterday in which the lenders instructed us to locate a Moving Company and place all personal possessions left in the home in a moving truck.
Apparently,the lenders are requiring these items to satisfy part of the "Foreclosure".
The former owner of the home seems to have vanished. They can`t be found.
They left all sorts of gizmo's`s and gadgets in this particular home.There are thousand's of dollars worth of "Electronic Toys".

There are 3 Flat Screen TV`s, a slew of video recorders and expensive contemporary furniture.
Whoever owned this home had truly great taste!

At first I thought these items should be included in the sale to a potential buyer because disassembling Flat Screen TV`s from a wall is a real pain in the arse!

The lender has other ideas for these items. I guess banks are now looking at recouping whatever they can from the sale of a home.
Next the banks will open "Mega Warehouses" throughout the country and call it
"Foreclosure Warehouse"....

These are truly strange times!

Many families are in denial they`re being Foreclosed. How do you handle this situation?

2008-05-06T04:01:00.000-07:00

We deal with many homeowners throughout the state of Florida who are involved with either a "Short Sale or Foreclosure".
Many after awhile come to the realization, it`s time to become "Unattached" and move on from the home they worked hard for.
It`s part of knowing you`re no longer able to afford to continue with the mortgage.

Majority of people know it`s time to look at other options,others don`t quite grasp the severity of remaining in a home which is facing foreclosure.

Recently, we`ve dealt with a few home owners who are unable to understand the realization it`s simply time to vacate a home.
Believe me, it`s not wise to wait for the Sheriff to serve you with a "Notice".

I make it a habit to sit down with these Sellers and commence the entire process of what will transpire. It`s never pleasant explaining to those who`s "Dreams" are ruined.

Foreclosures effect the entire family. For example as we all know "Children hate to be displaced". They ask questions and it`s hard for them to understand.
It`s easier when the homeowners start explaining to their family "Mommy and Daddy" have to move to another home early on,rather than last minute.

We recently had to re-explain the entire "Foreclosure Process" to a family who`s home is being "Foreclosed" in June.
They`ve been served by the courts,yet they don`t believe it.

The Conversation is as follows:

Family: You mean after 13 months we have to vacate?

Me: Yes, we`ve gone over this before, the lenders will not accept a sales price of $325,000 on your home, they`re not entertaining any offers any longer.

Family: can`t we ask for an extension?

Me: We have you`ve been in the home longer than we both expected. The time has come to look at other options, i`m very sorry!

Family: We don`t have any other options.

Me: You`ve been living in this home for almost 14 months without paying a mortgage. You`re mortgage was $2700 per month. Didn`t you save anything?

Family: Well, we tired at first, but with the cost of food and other expenses we have nothing left!

Me: We need to begin looking at our options. Do you have any family here?

Family: We have no one to help us. We asked our church for assistance, they said "No"..
We don`t have enough money for a rental,unless we can find a landlord to help us.

Me: There comes a time where you had to have known this day would come. We need to find a small condo for you and your family.

It`s disheartening, this is happening more and more. These people are facing the reality of Foreclosure without having a plan.
I don`t quite know what will happen,but the way this is panning out I pray this family doesn`t wind up living in the streets.
I predict this type of situation will occur more and more.

My new 2nd mortgage is my car! Buyer`s feeling the Pinch as well when deciding if it`s the right time to purchase a home!

2008-05-05T03:37:00.000-07:00

My 2nd mortgage is our car!

There are home Buyer`s who are feeling the Pinch as well when deciding it`s the right time to purchase a home!Lowering the interest rates are great, doubling the cost of fuel and oil destroys the entire concept of "Jump Starting" our economy!

I don`t know about you, I drive an average of 150 miles a day, 6 days week. The cost of running my vehicle has doubled.

Until recently I really didn`t mind the cost of driving my car it`s considered part of the "Cost of Doing Business".
Not anymore! I`m spending more money at the "GAS PUMP" than I was 7 months ago and it`s beginning to feel like I own another home not a car.

I have to laugh when our"Economists" go on TV explaining to our nation suspending the "GAS TAX" isn`t a good option! It sure the heck is if you`re not "RICH".
This is causing a ripple effect for our entire country,yet this "So Called" experts don`t believe so.

The middle class is being squeezed and it seems nobody in Washington cares. Elitist`s are not part of the middle cares, are they?
If gas continues to escalate into the stratosphere and crosses $5.00 a gallon, many future and potential home owners will have to re-think if they`re going to purchase a home or hold off because their personal expenses have suddenly spiked higher!

This country has had the luxury of having cheap fuel and oil prices for years, we`re dependent on our automobiles,yet as I listen to the pundits in Washington explain to us this is "OUR FAULT AS A NATION" I only have to look at Cheney and Bush, to realize it`s not!
Forget the Gas Tax, it`s time to open our reserves and drop the price of gas back to affordability!

Are you a Comedy Team or a Real Estate Team, buyer asks this Dynamic Duo!

2008-05-04T05:53:00.000-07:00

How often do you call for showing instructions only to be told the agent will meet you at the property?
Personally, I hate showing homes like this. Many times these Realtors don`t allow the Buyer`s to look at a home, they`re too busy chatting about themselves.
I`ve been called rude by some agents asking them to "Just Show a Home",not sell themselves to our client.

Yesterday, while showing homes in Weston, I ran upon a "Comedy Duo" who should be honing in on their skills at the Improv,not people`s homes!This was the greatest comedy act i`ve seen in years.

It was fascinating watching this Dynamic "Husband and Wife" team talk to themselves, at each other and almost have a "Full Blown" fight in front of our client and myself!

The appointment was set for yesterday, we gave the Dynamic Duo 24 hours notice as they required to view the home.
Our client wants to purchase a home with a pool and golf course view. This home had it all!
The home we saw was drop dead gorgeous,the couple who showed the home were far from either!

They started by giving our client the 5th degree.

The conversation is as follows:

Dynamic Duo:As you can see this is a magnificent home! I do hope you can afford it!

Me: What are you doing?

Dynamic Duo: We`re making sure that whoever purchases this "FANTASTIC" home understands the seller isn`t "Giving this Home Away", now as we walk into the kitchen, you`ll notice the fine "Old World" craftsmanship on the mahogany cabinets! By the way, what do you do for a living?

Buyer: Excuse me! Why are you asking me this question?

Dynamic Duo: We need to insure that our seller knows everything about you when we call them. It`s part of the process. Take a look at the Hunter Douglas window treatments, they`re brand new. The seller went through "Great Lengths" to have them installed. I do hope you understand this home is for a person with refined taste.

Me: What? Are you two a comedy act? I`ve never heard questions like this being thrown out like this! How dare you?

Dynamic Duo: Look! If you don`t like how we show a home,than "LEAVE" we`re in the "Top 1% of all -----&&& Sales in the nation" we don`t have time to waste!

Buyer: I came from New York to purchase a home. I own my own Ad agency and we`re expanding down to Florida and South America.

Dynamic Duo:Well than, can you prove earnings? Let`s look at the master bedroom for a moment isn`t it "JUST SO DIVINE"?

I began staring at the Buyer.We both shot each other the same look, "IT WAS TIME TO VACATE" this home!

As we began to slowly walk away from the Dynamic Duo the wife starts yelling at her husband!

" I told you we shouldn`t have wasted our time today, I have a party to attend".

The Buyer looked at the wife and told her point blank" I wouldn`t buy this home from you two if it was the last damn house standing in all of Weston. I`ve never seen two morons like you in my entire life! How the heck do you two get by selling Real Estate?"

The wife, gave the buyer a very snotty look as she bum rushed us out the door. Her last words were still ringing in my ears this morning."I`m from Weston, I don`t have to listen to this nonsense"....
She`s absolutely right, I`m sure the seller is wondering what type of Realtors they hired, I know I would be!

Realtors who don`t have access to the MLS can`t survive in this business.

2008-05-03T04:01:00.000-07:00

I`m sure you`ve received these type of calls from agents who surf Realtor.com rather than searching the MLS.
These agents don`t want to pay Board dues,and believe it`s our job to accommodate their requests.

For the record I rarely give out showing instructions, I leave that to our office.
If you don`t have the tools to ply your trade how can you succeed?

Many want to blame others for their problems,should they?

Yesterday, we received a rash of calls from the same Realtor seeking:
1- Showing Instructions.
2- Wanting us to meet them at the property because they don`t own a SUPRA key!

The showing instructions on the MLS clearly state "Vacant,No Appt. on Supra.
Majority of agents who view the MLS see this and know what to do.
Not this person!

The Conversation is as follows:

Misinformed Agent: Hello, we`re looking at Realtor.com for our client. We like to schedule an appointment to see this home. What are the showing instructions?

Me: Please call our office for all showing instructions. Thank You!

Misinformed Agent: Where does it say that?

Me: It clearly mentions it on the MLS.

Misinformed Agent: I don`t have access to the MLS.

Me: I`m with a client please call our office. Thanks!

Second call from Misinformed 10 minutes later.

Misinformed Agent: I called your office, they gave me instructions. I don`t own a SUPRA KEY! Can you meet me at the property?

Me: Why can`t you call your office and have someone give you a SUPRA?

Misinformed Agent: Well, ahhh,um-mm, ah-ah, there`s no one in our office to help me, can`t you?

Me: I`m really tied up at the moment dealing with our client. We`re busy until 7 tonight.

Misinformed Agent: can`t you send anyone else?

Me: I`ll call you back.

We located someone in our office to assist Misinformed, she arrived 30 minutes late,to add insult to injury stayed a grand total of 2 minutes with their client.

I can`t imagine doing business like this,nor would I ever encourage someone to do so!
I called "Misinformed" and expressed to them the importance of having the right tools of the trade.
They didn`t seem to care. I predict a very short career in Real Estate.

Without the right tools you can`t sell!

My comment on Jeff Turners blog "Holding worthless paper for every Tom,Dick and Jojo!" has lead to Scam Artists seeking out unsuspecting Sellers!

2008-05-02T03:45:00.000-07:00

I`ve received several emails recently, asking to refer "Homeowners who are looking to sell".
These emails started arriving after i made a comment on Jeff Turner`s blog entitled:
"For Sale By Owner: Raise The Price Then Call A REALTOR®? "

In theory holding a mortgage is very risky business and can cause undue stress to those unsuspecting sellers who attempt to hold paper.

If you`ve never done so,may I be the first to tell you don`t! Or at least speak to an attorney who is knowledgeable in Real Estate.

We`re working with a client who`s attempting as we speak to "Take Back Her Home", this is a "NIGHTMARE" for this trusting person who"Gave Away" her $300K home,in the hopes this person would purchase it!

The so called buyer has suddenly defaulted and now resides in her home "RENT FREE",and doesn`t appear in any hurry to leave, why would they?!

This occurrence is happening more often,than not all over the country!

Financially, this will destroy this poor women.

There are people out there who arrive with their "Happy Faces" attempting to sway those who are in dire need of help!

This blog isn`t about hiring a Realtor to assist you, this is about using "Common Sense" in a bad market where it seems more often than not the "Schemers,Liars and Cheats" look to make a profit on your home!

One email I received bragged how they get the Unsuspecting Sellers" to sign everything over with token consideration. Guess who has all the rights of your home after you sign away? If you believe for a second you do, stop now and commence seeking legal counsel.

These so called "Saviors" have no responsibility in the "Upkeep of your Home",nor will they continue paying the taxes,not to mention Insurance.
They will attempt to facilitate a "Quick Sale" and if they don`t accomplish this,they`ll move on to the next "Sucker" explaining to you, "They don`t want the home" any longer!

I`ve met several homeowners in 2007 and 2008 who have been victimized by this vultures.Try getting your home back without using an attorney.

Don`t "Give Your Investment Away" to these "Happy faces" who swear up and down they can help you!

This is the comment I left on Jeff`s blog:

"Holding paper won`t accomplish much if the buyer defaults down the road. I don`t consider this a victory for the FSBO~. Heck, I have 3 homes of my own we`re looking to sell. I get every Tom, Dick and Jojo looking for me to hold worthless paper. I`m trying to sell my homes, not become JP Morgan."

Every Real Estate Office needs at least 1 Closer to assist other Agents!

2008-05-01T04:01:00.000-07:00

I`ve been avoiding a recruiter for a several months. They refuse to take no for an answer.
They were hired to locate a "Closer" who can turn around an established Real Estate Office in Orlando.

They apparently, like they way we conduct ourself when doing Real Estate.

I like to use the:AIDA METHOD in closing.

For those who have never heard of AIDA,here it is:

AIDA is an acronym used in marketing that describes a common list of events that are very often undergone when a person is selling a product or service:
A - Attention (Awareness): attract the attention of the customer.
I - Interest: raise customer interest by demonstrating features, advantages, and benefits.
D - Desire: convince customers that they want and desire the product or service and that it will satisfy their needs.
A - Action: lead customers towards taking action and/or purchasing.

They continue to call me asking me to speak with the Broker/Owner. Truthfully, I`m busy and relocating to Orlando isn`t an option .

I`ve explained all this,yet they continue with a barrage of calls.

Yesterday, the Broker/Owner called offering a package in his words "I couldn't`t refuse".

I`ve done our due diligence on this particular company.Eventually, they want to franchise.
They have 5 locations and somewhere north of 1200 Active Agents. There lies the problem.
The offices seem to lose more transactions then they win. Overall, the agents don`t seem to know "How to Close".

Whether, they`re not paying attention, following -up or just plain offering ridiculous offers, there is a deep problem,in which the Owner is willing to compensate me dearly!

In order to run a successful office, there has to be at least "A CLOSER", one who knows how to deal with agents,buyer`s,sellers,lenders,title companies and attorney's in order to insure the transactions make it to the closing table.

It`s impossible to have 1200 and a low closing ratio, something is very wrong.

I spoke to the Broker/Owner for 15 minutes and could tell by their voice how serious they were in hiring me.

It`s impossible to count how many transactions I`ve assisted our agents,i only look at the overall numbers,which is what differentiates our office remaining prosperous or closed.

Some of our agents take it for granted what I do! Others appreciate it greatly.
It took me years to hone in on our negotiating skills, it didn`t happen overnight!

Back to the Broker/Owner. He was fascinated on our actual closing ratio.
He wanted me to visit and spend a few days consulting his managers.

I may have found a new career. Who knows!

Renters: Be careful when dealing with landlords.Unscrupulous landlords refuse to admit their facing Foreclosure.

2008-04-30T02:53:00.000-07:00

There`s a new breed of Scam Artists out there. This time it Landlords who are facing Foreclosure and refuse to disclose the information to an unsuspecting tenant.

Many of these unscrupulous Landlords believe their in the right to pocket whatever cash they can before the "Banks Take Possession" of their home.

The tenants in the meantime must scramble to locate a new home,many times forfeiting their security deposits as well.
The Florida Landlord Tenant Law offers little consolation to these unsuspecting people.
They can go to small claims and sue the landlord,but in the meantime, many are faced with a harsh reality they must vacate the home within 5 days after receiving Foreclosure notice.

The banks don`t care, it`s not their problem as the home goes on sale at the court house steps!

Some Realtors in our area place these homes on the MLS not quite understanding what they`re doing,or maybe not really caring.

Realtors should pay more attention,but they don`t.They believe their helping the landlords.

Recently, we`ve begun to place clauses in our "Agreements to enter into a Lease" stating the "Landlord is current on all mortgage payments" and the "Home isn`t under Foreclosure or Short Sale",whether this holds up as legal and binding is quite another story.

The NAR should be addressing this issue,but so far they haven`t. neither has FAR or the local Real Estate Boards throughout Florida and the rest of the country!

We`re in swimming in "New Waters" as Real Estate Professionals.

This issues must be addressed when assisting potential tenants who are in dire need of a home for rent.

For additional information: Contact The Scott Daniels Real Estate Group @ 954-275-0200.

email:realestatefla1@yahoo.com

Infomercials are killing our industry! You can`t assign what you don`t own!

2008-04-29T03:35:00.000-07:00

We`re experiencing a new type of investor who believes after attending a "Real Estate Seminar" they can write an "Options Contract" on a home they don`t own and assign it to someone else.

They take no responsibility if anything goes wrong,nor do they pretend to care. Why should they, it`s not taught at the "Workshop".

Many pay huge sums of money to attend these "Workshops".

It seems these seminars enjoy reinventing "Real Estate Laws".

The newbie investors want to go out and apply what they just learned.
After all, these infomercials show a home for $200,000 and than flash on the screen how the so called GURU bought the home with "NO MONEY DOWN".

We received an offer last night on a listing we have in Hollywood, Florida .

The offer to "Lease Options" our clients home.

It wouldn`t be much of an issue if the person who wants to do this actually lives in the home.
This person, in turn wants to "Lease a $400,000" home and assign it to someone else.
The liability issues are astounding. the person doing the lease option doesn`t seem to care, which is exactly the point of why doing a lease option is meaningless.
The seller still must pay the taxes,insurance and God forbid, if another person lives in the home and gets hurt the liability issues involved become a legal nightmare.

Many of these "Novice Investors" should stick to their "Day Jobs".

Working with people who look at a $400,000 home as not a big deal makes me wonder who the heck is teaching these seminars!

The Conversation is as follows:

Me: You want to "lease option" a $400K home and than assign it?

Mr. Lease Option: Yes, i can than try to locate a buyer and make a profit!

Me: Who takes the liability on the person you assign this $400,000 home to?

Mr. Lease Option: Ahh,humm, ow-ow I didn`t think of that. In our seminar we only discuss how we assign our option contract to someone else. It`s done all the time!
What do you care anyway as long as we close?!

Going to seminars are wonderful, providing you`re actually learning the right way of doing something.

Acting like you know what your doing with a person`s Real Property as if it`s a $2.00 item really irks me to no end!

Changing your strategy in a competitive market. What works and what doesn`t.

2008-04-28T03:41:00.000-07:00

In South Florida it seems at least daily another Real Estate Office closes,due to lack of business.Many complain there are "No Buyers", walking in the doors! Still others whine they have no leads. They forget this business is all about "SELF PROMOTION".

In the old days ( 10 years ago) business was developed. You had to work for it,nothing was given to you and believe me, it was hard.Buyer`s didn`t just walk into your office as they once had,fueled by a feeding frenzy.

Fast Forward to today.
Yes, the Real Estate market is slow,it`s extremely hard,but guess what?! The same formula applies today as it did yesterday.How of then do you work the telephones or emails?
When`s the last time you actually tried to developer your own business,instead of waiting for someone to "hand you a lead"?
Locating business isn`t for everyone. Networking,Advertising,and visiting a FSBO, can enhance your presence.

Our business is the sum of all parts.

1- Sales- No matter what anyone tells you Real Estate is showmanship, the ability to sell and understand what you`re client is seeking counts. The amount of time you invest is crucial to "Growing a business" it doesn`t happen overnight it takes years!Many can`t wait,which is why they`re leaving now.

2- Follow Up: I work the telephones and emails 365 days a year. I blog, network, send emails, all day long from Sun Up to Sun Down.
Some days I`ll go through 30-50 potential clients to locate just 1 who needs our services today!The others we continue to remain in contact with in our "Pipeline" of business.Referrals are generated this way!

3- It`s not what you know,it`s who you know:If you`re in the business for a few years you begin to know the "Players". Go out there and Network with your fellow Realtors. If you do good by them,they`ll do good by you!

4- Returning a telephone call. Something this simple many just don`t relate too.
There`s a company out there who preaches you should answer a telephone like a Doctor does! They encourage you to treat your business as such. They advise you to return calls between 12-1 and 5-6. That`s all great if you`re a Doctor seeing patients in an office all day,but in our profession,you`re as good as your last call!

5- Re-programing yourself. I know Realtors who are only "Listing Agents or Buyers Agents",they`ll tell you the reasons why you should be as well. Don`t listen! If someone is calling you on the telephone to view a listing,are you seriously not going to let them view the property? What about if the potential client wants to view other homes in the area, are you going to tell them to call someone else,and explain "You`re only a LISTING AGENT"? This is a recipe for utter failure.

The Real Estate business changes every 6 months and so should you!
The business is out there, you just have to work harder for it!

Solicitors in India don`t even know what the "Do Not Call" rules are!

2008-04-27T05:10:00.000-07:00

It`s a crying shame,we`re outsourcing our entire country to INDIA!Worse,they don`t adhere to the same rules that apply in our country.
They harass Americans each day with their insanity! Many can`t speak English and they seem to be reading off of 3x5 index cards.
Recently,I`ve received a rash of calls from a group of solicitors who keep identifying themselves as "Techies" from Spider India.They want to sell me their services,except1- It`s impossible to understand them.2- They seem to be using Tuna Fish Cans with strings attached to them as telephones.It`s not funny, as they keep identifying themselves as if I`m supposed to be impressed.Worse at .$10 cents an hour you would expect if they want to solicit they`d learn the English language,or at least attempt too.Apparently,our friends from India don`t have to worry about our laws. Maybe the DNC list doesn`t apply to foreign based companies.It should, and that`s a huge problem. NAFTA at it`s finest I guess.When you receive 15 calls a day for an entire week from the same freaking solicitors it`s deplorable.Sadly, we`re outsourcing our enter country and the world is benefiting from it,except now the JOKE is on us!We`ve allowed ourselves to sell our technology, our entrepreneurial spirit and the kitchen sink to these foreign countries who in turn,want to sell it back to the GOOD OLDE USA!God Bless America.We`ve taught these countries everything,they in turn want to re-teach what we`ve forgotten.By soliciting people inside this country and not properly speaking the language it`s becoming a problem.
It would be funny if it wasn`t sad.I can envision a play about this oneday from our friends on Broadway!"India Calling" would be a name! I can see it now.

At Florida List For Less Realty,Inc. we`ll market and sell your home using the latest technology!

2008-04-26T09:25:00.000-07:00

We`ll market your home with the latest technology available.Marketing a home in today`s competitive Real Estate market is extremely important not to mention viable for the sale of your home.

At Florida List For Less Realty,Inc. we go through tremendous effort to market and sell your home in a timely manner insuring our clients receive the maximum amount of exposure.It`s imperative to have a Realtor who uses new and innovative marketing techniques rather than someone who is more intent just to place a sign in the yard and hold two "Open Houses", believing that`s all it takes to sell a home!Let`s face it.Selling a home was a lot different than it was 10 years ago.Today with the Internet many potential clients make decisions viewing homes on line.We receive inquiries each day requesting information from people from all over the world.Therefore, we decided 3 years ago to immerse our company into new technology to assist these individuals.

Whether it`s using a virtual tour, or video we believe a "Picture is worth a 1001 words".Many times we`ve received offers from buyer`s who have only viewed or videos and have sent offers.For additional information on how we can "market and sell your home" .

Please contact:The Scott Daniels Real Estate Group and Florida List For Less Realty,Inc.

tel: 954-275-0200

email:realestatefla1@yahoo.com.

web site:www.listfloridahomesforless.com.

We`ll market your home with the latest technology available.

Why do some people want to be Wanna Be Realtors?

2008-04-25T03:46:00.000-07:00

I don`t know about you, whenever I have a client start pretending to be a lawyer I begin to wonder what the motivation to hire a "Professional" is all about.9 out of 10 times they want to "Pull a fast" one and that`s a real problem for me.

There are people out there who seem to be a "jack of all trades. No matter what you tell them,they know better!

Many are either frustrated attorney`s or wannabe Realtors.

In Real Estate there are rules as we all know! For example the "Listing Contracts" are made for a purpose, they can`t be changed.
Adding ridiculous "clauses or deleting" important parts of a contract make little or no sense.

It`s always been our opinion to walk away from clients who seem to "KNOW MORE THAN THOSE WHO DO THIS FOR A LIVING".

After all do you hire a Plumber to do your Taxes?Maybe Wesley Snipes,would!

I was at a listing yesterday where both the husband and wife wanted to rewrite our listing contract.
Both seemed determined to "Explain to me" how to do my job!
For the record I`ve been a licensed Realtor in the State of New York and Florida for 11 years. This is a "Full Time" job for me,one in which I work 6.5 days a week.
I would hope by now if you want to hire a "Professional" my credentials and experience should speak for themself.

I was in a very uncomfortable position last night watching this couple dissect our "Listing Contract".

The conversation is as follows:

Husband: OH! This should be scratched out as well.
Me: Sorry, in this county the all escrows are held by either an attorney or title company. You holding the escrow isn`t an option in our opinion.
Wife: This needs to be taken out as well.
Me: Inspections are placed on this contract for a reason. What you`re proposing is this buyers don`t perform an inspection on your home!
Husband: That`s not right! Our home is beautiful, we have a few roof issues which we`d rather not repair!Therefore, we don`t want to "Disclose".
Me: I`m sorry, I can`t be part of this. It`s my license and trust me my license is worth keeping.
Wife: Well, you work for us! Period! End of the story!
Me: Mind if I ask you a question.? Why are you looking at hiring a Realtor if you both know so much?
Husband: We`re in need of a Realtor who will do as we tell them. Is that clear?

It`s comical to watch these two people in action. Both attempting to dictate how the contract should read,without quite understanding the law. Both don`t want to disclose issues which will "Effect Sale" and they want a Realtor who can slide it all by!
I wished them the best and hope they find what they`re looking for.

Attention Realtors: Earn 100% commission on each transaction.

2008-04-24T05:47:00.001-07:00

Attention Realtors: Earn 100% commission on each transaction.

Offered in Miami-Dade,Broward,Marion,Orange and Palm Beach Counties.Realtors: Earn 100% commission on each transaction!

Florida List For Less Realty,Inc. was formed 3 years ago with the understanding of "Realtors Selling Real Estate".

We didn`t believe in a Multi-Level Marketing platform to attract others in the profession. Our companies business model is based on Realtors who wish to maximize their earnings,without paying a franchise or marketing fee.

Let`s face it!

These additional "Fee`s" eat into your profit margins. After all it`s your valuable time,gas,telephone calls,advertsing expenses which add up when marketing or selling a home. Suddenly, a 70% commission is now paid out at 62% after fee`s are deducted.
At Florida List For Less Realty,Inc. we believe our Realtors should be compensated for their hard efforts.

Real Estate has evolved so much these last few years, the cost of doing business has doubled leaving many in our industry to seek other avenues of employment.

Now you can enjoy the best of "Both Worlds".
Earn 100% commission:
Our agents receive 100% with every transaction.
We charge a $395.00 transaction fee with each sale.
No franchise fee`s or hidden fee`s.
Be your own boss.
Our agents receive the following:
Advertising. Your listings are placed on all major web sites and search engines.
Leads generated are directed to you.
Free Web Site.Establish presence on the net.
We have a "Full Time" web designer to assist you.
Legal Assistance. We believe if you have any questions it`s easier to speak directly to an attorney rather than contacting a "Hot Line" for assistance.
Training. We`ve taught some of the best in the state of Florida how to become "Top Producers. Our one-on-one training is offered to you 7 days a week.
No charge for E&O insurance.
In house "Professional Stager" as well as a "Full Time" handyman to assist you and your clients. On Staff Transaction Coordinator.
Maximize your success rate today.

For a confidential interview:

Please contact Scott Daniels @ 954-275-0200 or
email realestatefla1@yahoo.com.

The Scott Scott Daniels Real Estate Group and Florida List For Less Realty,Inc
http://www.floridalistforlessrealty.com/

When times were good did your Broker raise your commissions? Why are they lowering them now?

2008-04-24T03:38:00.000-07:00

When times were good did your Broker raise your commissions? We all know the answer to that question!
Now,times have changed it seems many of the National Real Estate Franchises have dropped a bombshell on their agents and have begun to reduce their commission structure.
Why?

It seems apparent many of these offices are having a problem with paying bills and the overall expenses running an office.Many of these offices recruited agents in the hopes they would recruit other agents,which would generate a tremendous amount of sales. Many of these Brokers would sit back and relax,never worrying about going out and pounding the pavement. Times were different three years ago! Business was good and everyone applied for a Real Estate license.

In reality, majority of these companies forgot one important ingredient to the equation.In order to survive in a bad market you still need to generate sales!Realtors,have to produce in order for a Real Estate Office to survive,without sales, you can have 300 agents in you`re office,but if only a handful are actually generating sales it`s almost impossible to survive.
Faced with difficult times and a turn in the market, these offices are now looking at their Realtors. They believe reducing commissions is the answer? Is it?I don`t know about you but why should my hard work and effort be penalized?It seems their is a sudden shift in how many seasoned Realtors feel. Many are disgruntled and are looking for alternative solutions.

We`ve always been a firm believer in offering experienced agents a 100% commission structure.For years the larger firms have criticized this model without rhyme or reason.The reasoning behind the 100% structure is simple.If you`ve been in this business long enough you realize one thing "Marketing your listings generate leads".A Realtor in today`s market is a "Self Promoter".

The expenditure of cash is out of your pocket not the office you work in. Our belief is to allow Realtors to market and sell their listing and earn what they rightfully deserve.
An environment of "Realtors selling Real Estate" can survive in good times and in bad!
Why should you suffer the consequences of receiving a lower commission because you`re office feels everyone should share the pain of a bad market?

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When times were good did your Broker raise your commissions? Why are they lowering them now?

I witnessed a Real Live Cat Fight at a closing!

2008-04-23T03:19:00.000-07:00

I watched in horror yesterday as two sisters decide to walk away from a closing laying blame on everyone around them.
Hard to believe, yet true.
Apparently, one feels the others was receiving more money than the other from the proceeds.
Rather than work it out at the closing table these two decide to have a live "Cat Fight" at the title company. Classy,huh?

As the buyer,myself,attorney and buyer`s agent sat in disbelief watching this transpire I kept wondering the motivation behind this.So much hatred for each other.

We attempted to quell the situation to no avail. As I tried to step in one of the sisters begins to attack me!

The conversation is as follows:

Me: Isn`t there someway we can resolve this matter?
Seller #1: It`s all your fault. I never wanted to sell my share of the home!
Me: My fault? You hired me to sell the home,remember?
Seller#1: Yeah,but I changed my damn mind after seeing what I would get!
Me: We went over this before! You had a pre payment penalty on your loan.
Seller#1: You should have been able to work that out for me!
Me: I have no control over what you did.
Seller#2: Look, my sister doesn`t want to close because i`m receiving more money. I`m not gonna give her a dime!
Attorney: Are we both ready to sign the papers?
Seller #1&2: Hell No! we`re not signing today.

With that the sisters walk their separate ways,not understanding the ramifications surrounding a default.
Both hate each other so much,each not caring about one another and yet, they lived under the same roof together for 15 years!

Playing Cowboys and Indians with a Short Sale.

2008-04-22T03:29:00.000-07:00

We`ve been going back and forth with a lender who is relying on a $40 BPO to determine the actual sales price of a home we`re attempting to sell.
The Comps were sent,as well as inspection reports,roof reports and liens on the home.
The negotiator seems indifferent to the entire process and doesn't grasp how off this BPO is.

Maybe this is a new stall tactic by the lenders,who knows anymore?

I`m convinced the negotiator is very young as well. I keep receiving his hieroglyphics notes to me words like (U,Thanx,UR,CYA,COOL,G8eat!) are part of the vocabulary.
It`s disheartening at best and doesn`t accomplish anything for the Seller and Buyer.
In spite of the hoopla of Fannie and Freddie coming to the rescue, the world of "SHORT SALES" across the country are in limbo!

Suddenly the lenders seem completely lost as to how to proceed.
Many inside the "Loss mitigation Depts." get reassigned and the entire process begins once again.

The average time to complete a transaction is 4-6 months. How many buyers do you know will wait that long?
I`m not alone in our opinion. It`s wide spread.
The media and the pundits in Washington speak as if "help is on the way". If it is we`re at a loss for words.

Back to the negotiator. I sent him the Comps one more time with a reminder that I`ve been doing this for 10+ years, so i`m very familiar with how a CMA works.
We sent the lenders the most recent sales in the area.

Here is his response.
"the comps you sent are all smaller than our subject property. And based on what they either sold for or are listed for, the counter remains at 295k. Thanx!!!!!!!!!!!"

The negotiator is referring to "Comps" in the area that are 100 Sq/Ft. less than the subject property.
It`s unbelievable how these banks get anything completed anymore!

The Indians are circling the wagons.

Sherlock Holmes would have been proud. Buyer attempts to deal with our seller.

2008-04-19T04:13:00.000-07:00

We showed our listing located in Pembroke Pines, Florida on Wednesday to a couple who really liked the home.
They asked all kinds of questions and seemed ready to place an offer.
We discussed the home for an hour,we parted with the impression they`d get back to me in the morning.

Rule #1 in Real Estate is to never pressure a buyer into buying. Let them decide for themselves.

I waited until the next day and left a message.
We didn`t hear back from the buyers.

On Friday, I received a call from our seller who informed me they located a buyer for their home and was wondering if they had to compensate us a commission.
As the seller spoke I realized the buyers were in fact the people we showed the home to.
I asked the seller how they found the buyers.

The conversation is as follows.

Me: How were you able to locate the buyers?

Seller: well, huh, they just ahhh Knocked on our door.

Me: Really? Did you think anything about that?

Seller: Well ahhh no, they did ahhh mention they saw our home.

Me: Were their names ^%*#%&%$?

Seller: Ahh, humm, well yeah!

Me: Ask them who showed then your lovely home.

Seller: What difference does it make? They want to buy direct!

Me: No difference, except you and I have a written and bining contract.In the contract it states we`re to be paid a commission whether we show the home or we don`t.In this case we showed the home to these buyers who have decided they can negotiate directly with you!

Seller: Ahhha, yeah, but,but, they knocked on our door.

Me: Ask them if they know the Realtor who showed the home.

I decide to end the conversation and contact the buyer.

The buyers gave me a round about explanation as to what transpired.They swore up and down they only knocked on the door to see the home one more time before contacting our office to place the offer.
Some days you have to act like Sherlock Holmes in order to prove a point.

There are no "Entitlement Programs" in a Short Sale.

2008-04-17T03:40:00.001-07:00

Yesterday was a culmination of what`s been going all wrong with Short Sales.
Many people begin to believe their are "Entitlements" when selling a home in a Short Sale.
People who for whatever reason were able to secure loans two years ago can no longer afford to pay a mortgage.
Rather than deal with reality, they begin to believe they`ll be rewarded.
The truth is very simple" The lenders won`t compensate you and neither will the listing agent who sells your home".

I sat at a listing appointment yesterday going over what transpires in a Short Sale with the potential seller. They were referred to me from a client who`s home we recently sold in a "Short Sale".
I went over the entire procedure,explained how the lenders work, the Comps, and I thought all was well until the person began to question me.

The conversation is as follows:

Me: Once we list your home we`ll contact the "Loss Mitigation" department for instructions on what to do next.

Short Sale: How much money will I receive?

Me: Money? You`re upside down in your home. There isn`t any money.

Short Sale: If I list my home with you, why not compensate me?

Me: Pay You to sell your home? That`s a first for me. Sorry we don`t do things like that.

Short Sale: You mean I get nothing?

Me: Look at it this way! We`ll be lucky to get this home sold at a price the lenders can live with. Isn`t that good enough?

Short Sale: It`s important for me to receive something. You can do it!

Me: You haven`t paid your mortgage in 4 months. The home is worth less than you purchased it for. There isn`t any compensation here.

With that i decided to excuse myself from this person and told them to "Think about it and call me in the morning". Hopefully,prevailing minds will apply.

There are no rewards in a "Short Sale".

Are Real Estate Reality TV Shows giving our profession a bad name?

2008-04-15T03:43:00.000-07:00

A few days ago we received a call from an investor who informed us they were interested in selling their home.
That being said it usually means they`re interested in listing the home and placing it on the MLS.
We began to discuss a strategy on how we can "market" the home and the investor decided to set me straight.

They explained how they had "NO INTENTIONS" of listing ther home with an agent,they wanted us to locate a buyer for the property!They expressed how Realtors help others on REAL ESTATE TV shows!
Lately, we`ve been receiving these calls on a regular basics. For some unknown reason many investors and homeowners believe they can contact the local "Realtor"just like the TV does and have them find a buyer for them because it`s our duty.
It`s becoming an epidemic in our profession as people feel they no longer have to commit to anyone,and expect results!

Two weeks ago we received a similar call from a person who wanted us to "Advertise" their property without offering us a commission. They wanted us to do the job Pro-Bono.

Many feel these reality TV shows make Realtors look like puppets when showing a home or negotiating a sales price.
These Real Estate TV shows protray Realtors in a bad light!
Everything that is done on these shows make selling a home look like any Tom,Dick or Jane can do what we do!

The simple truth is we don`t and it`s fascinating to listen to people contact with us with jubilation and expect us to perform our trade without compensation.

Back to the caller for a moment. The investor expressed to me how "They Overpaid" for the home.They realized the home was "upside down" so therefore, they couldn't afford to offer us any compensation,but if I heard of someone interested would I be so kind to give pass them the name?

The person felt we as Realtors are overpaid as it is,therefore, when someone is in trouble, it`s our civic duty to help,without any questions asked!
I decided to ask this person a few questions.

The conversation is as follows:
Me:Who sold you the home?

Savvy investor:I bought the home through our Investment Club.

Me:Why don`t you call your investment club for help?

Savvy investor:They disbanded last year,after we all realized we needed professional assistance when buying a home.

Me: Great, I told her now it`s time you hire a professional to bail you out!

Case closed!

Do you accept IOU`s with your clients?

2008-04-14T04:36:00.000-07:00

Never before have we actually been approached by a prospective tenant asking us if the "Landlord will accept an IOU" in lieu of paying the rent.
It takes a lot for a person to assume someone would.Yet as I awaited the "punch line" from this person, I could tell they were quite serious.
We do a lot of rentals throughout Florida. Basically, the rules are simple. The landlords require "1st,last and security" when accepting a new tenant.
The call came in yesterday afternoon while I was training our newest agent. They wanted to view our listing in Hollywood,Florida. Without hesitation we told the prospective tenant we`d be there in 20 minutes for them to view the home. I wanted our agent to "Get a Feel" for the way we do business.
We showed the home to this person, they indicated they wanted it and we directed this person back to our office to write the lease and run a credit check. We explained the procedure to this person,they seemed to understand until we got down to business.
The conversation is as follows:
Me: We need you to fill out a "Reference Sheet" so we may proceed.
Mr. IOU: Great! Do you think the landlord will allow me to move in next Thursday?
Me: Sure, it`s not a problem, we need to write the lease, send a copy to the landlord and collect a check for the 1st months rent.
Mr. IOU: Well, there is a slight problem. I`m kinda short for the rent!
Me: Do you have at least 1 month`s rent?
Mr. IOU: Actually, I don`t have any right now, but I`m good for it! I just relocated from Wisconsin.
Me: So, you`re asking the landlord to rent you a home with an IOU?
Mr. IOU: Yes, i`m going have the money in 30 days.
With that we immediately tell Mr. IOU this isn`t how we do business. He appeared to understand and asked if I can make the call to the landlord anyway and explain his circumstance.

I don`t know about you, but dealing with IOU`s isn`t our thing!
How would you have dealt with this situation?

Banks begin to protect their interests from Homeowners facing foreclosure!

2008-04-11T03:47:00.001-07:00

With so many homeowners losing their homes to Foreclosure the banks have begun to protect their interests in the home.
Recently, there seems to be a rash of homeowners who have decided to "GET EVEN" with the banks.
Some have "Destroyed" their homes by flooding them,punching holes in the walls,throwing garbage all over as well as leaving rotted food in the refrigerator causing a horrific Oder.
Their motivation is directed at the actual loss of the home and who better to blame but the lenders.

Some homeowners justify this behavior as a way of releasing frustration. It`s hard to rationalize this behavior,yet many are doing it.
To prevent this from continuing the lenders have decide to protect their interests by changing the locks, to prevent vandalism.

In the past two weeks we have personally experienced this type of behavior. I can tell you it`s almost impossible to prevent, and the mere fact the home is trashed demonstrates the frustration these former homeowners are experiencing.

It doesn`t appear the lenders or the Fed are yet willing to assist these people,in spite of what the media mentions.
These people are losing something "they worked hard" to obtain. It`s not easy to admit defeat,so from their perspective "getting even" is the only way.
Have you experienced this type of attitude with your clients?
How do you prevent this from happening?
What do you explain to these people?
Society is changing, and not for the better!

When driving a potential client to do an "Overview" of a neighborhood becomes obsolete.How the net has changed our marketing approach.

2008-04-03T04:44:00.000-07:00

Two years ago we used to give potential clients an overview of an area they wished to view by driving them around. The cost of gas wasn`t as high as it is today.The cost of gas wasn`t as expensive as it is today.We viewed it as an investment for the future. Realistically, the closing ratio`s on these "overviews" are 1-5.
Gas prices weren`t as high as they are today,we really never gave it much thought.

Overviews today are no longer a viable option. Gas prices are off the roof,a tank of gas is north of $70.00.
Faced with this situation we have began to take videos of different neighbors of Broward County.When someone wishes to look at Pembroke Pines we now send them our video or CD.
It`s almost impossible to accommodate everyone as we once did.
It`s hard to believe how the Real Estate market has changed in only a few short years.
The Net has changed the course of our normal business practice.
Without the net and new technology offered I guess many of us would truly be "out of business" per se.

Basically, we take video`s of different neighborhoods and combine them for the client.
These videos run an average of 20-30 minutes.

Two months ago we sent an overview to a potential client relocating from Chicago.
They weren`t sure back than if they would be offered a job in South Florida.
For them the time they spent while here on the interview really wasn`t enough of an indication if they`d like the area or not. Housing and relocating to another state is always a huge concern.

We gave them a CD of three area`s in Broward they expressed interest in.We filmed the schools,shopping and highways for this person to view as well as certain communities we felt this client would like.

Yesterday, the client called,informing me they accepted the job offer and needed to begin looking at securing a home immediately.

The time we invested in the video was very well spent. We now have different CD`s we can send to other clients as well.
Taking a person in your car today to do an "Over View"now seems obsolete.

For a free CD of area`s of Broward County Florida.

Please email :realestatefla1@yahoo.com

Visit us @ www.listfloridahomesforless.com

Tel: 954-275-0200.

Short Sale Update: Why do Buyer`s feel they can send ridiculous offers and the Seller`s must accept?

2008-04-01T03:44:00.000-07:00

Recently, we`ve received a rash of ridiculous offers on listings we have which are "Short Sales".
There seems to be confusion from many buyer`s who believe they can make "Low Ball" offers to the sellers of these properties and they`ll simply sign.Guess what? They can refuse to sign the offer and rightfully so.

Somehow the Buyer`s agents representing these clients firmly believe the sellers must sign off to these insane offers,and get upset the seller`s aren`t cooperating.

It`s clear the confusion is rampant.

A Short Sale occurs when a property is sold and the lender agrees to accept a discounted payoff, meaning the lender will release the lien that is secured to the property upon receipt of less money than is actually owed.

That mentioned if a mortgagee owes the lender $300,000 and has listed their home for sale at $250,000 doesn`t mean they`ll accept offers for $125,000!Would you?

By now many in the Real Estate profession know the lenders will not accept these insane offers, the time and effort involved to send them is very time consuming.

Unless you`re serious in buying a home that is below market value and priced accordingly it is our opinion you`re buying for all the right reasons. If you`re in the market to send ridiculous offers all over town, may I save you the time and tell you to forget it!
For additional information on "Understanding how a Short Sale Works" please feel free to contact us at 954-275-0200.
It`s our pleasure assisting you.

There are no such things as a Do Over! Buyer decides they don`t want to close.

2008-03-31T03:36:00.000-07:00

Buying a home has certain responsibilities attached to it.
When a contract is executed there is a commitment from both "Buyer and Seller".
The purchasing of a home shouldn't be taken lightly, like anything else in life there are certain ramifications that can occur.

Last night I received a call from an agent who`s client no longer wants to purchase a home.
The closing is set for this Wednesday, the seller`s are all set to vacate on Tuesday.
It`s hard to comprehend why the buyer doesn`t wish to pursue.

It seems the buyers located a home in another area of Broward,County.
They believe they can walk from this contract and be given their $5000 held in escrow.

The buyer`s agent wanted to know if the seller`s will simply release them from their commitment!
I spoke to the buyer`s agent and expressed the importance of having an "Executed Contract". They seemed to understand but, felt the buyer`s shouldn`t be penalized for their actions.
The buyers liken this procedure of buying a home to going to Target and receiving a credit if you don`t like the item you`ve purchased.
They feel buying a home is similar to just going to a cashier and asking for a refund "No questions asked'.

It`s always amazing how people think. In reality the buyer`s will be in default.
We`re looking at this as if we don`t close on Wednesday we`re filing for the escrow deposit. There are no Do Over`s in buying a house.

Coming Soon: Countrywide Bank Owned Real Estate Offices opening in a county near you!

2008-03-30T05:15:00.000-07:00

Coming Soon: Countrywide Bank Owned Real Estate Offices opening in a county near you!

Many of us have been discussing for quite a while the agenda banks seem to have when it comes to Foreclosures and Distressed Property.
To some it`s been apparent the lenders are slowly inching their way into the Real Estate business.
For the majority of us who practice Real Estate this is a true conflict of interest,yet it`s happening.

Bank Owned Properties will soon be sold by guess who?! Countrywide.
Make no mistake about this,they are orchestrating behind the scenes offices that will soon open throughout Florida!
These offices will sell Bank Owned.HUD and Lender properties.
Bank of America has finally crossed the path of disbelief and who`s really to blame?!

I don`t know about you, but i would have to believe NAR has known for a year or so what`s been happening behind the scenes. It surly, explains why BofA has been uncooperative in emptying inventory, and you thought it was you,huh?

Under the disguise of a Real Estate Company who has been dealing with CW REO~S it`s clear that the unusual amount of new office openings throughout the county will be commencing in a few months.

It was only a matter of time, but now that the time has come "What will the future hold for our profession?"

Real Estate: Home Mortgage Crisis May Boost Divorces in U.S., Experts S

2008-03-29T13:50:00.000-07:00

Real Estate: Home Mortgage Crisis May Boost Divorces in U.S., Experts Say
By DON MOORE
The home mortgage crisis in the United States has spawned problems in the mortgage, real estate and banking industries, and many consumers are now facing mortgage payment increases in the coming months that could cause the number of home foreclosures to climb even higher. And all of those financial woes may be spawning another problem as well -- an increase in divorces, experts say.“Historically the three most likely reasons for foreclosure problems are: loss of job, loss of health and loss of spouse. On top of that, these days, escalating mortgage payments are exacerbating the divorce problem," Nicholas Retsinas, director of Harvard’s Joint Center for Housing Studies, said.

While the Harvard housing expert said it's too soon for a definitive study linking divorce to the country’s recent foreclosure woes, Scott Daniels, an Ocala, Fla. Realtor®, doesn’t need a study to tell him what he already knows -- the mortgage industry crisis is causing an increase in the number of couples who are getting divorced. "In the last three months, we have accepted five listings which are divorce sales. In each instance, it’s do to the obligation of meeting their mortgage payments,” he wrote in a blog he posts regularly on the Internet. “Faced with pressure, these couples are blaming one another! Rather than attempt to work together to resolve the problem, they find it easier to separate. They each have in common the same exact problem: No one is able to make a decision on what price to sell for! "Daniels, of Florida List for Less Realty, said financial woes caused by variable mortgage rates "are really straining to a relationship. When times are good, people are happy. They love and laugh in unison. When the world is bad, they get ugly with each other. Human nature is funny that way."Daniels thinks once statistics between the mortgage rates and divorce rates are compiled, the public will see a national trend. “It’s a trend that will continue as long as real estate prices spiral down. Many couples can’t face the reality of mounting bills, higher mortgage payments and decide it’s better to part. As we move forward this trend is happening at an alarming rate leading to foreclosures,” he maintains. In response to his blog, Daniels said he received 50 to 60 replies from Realtors® around the country who agreed with his assessment that the mortgage problems are leading to more and more foreclosures -- and more and more divorces.

In 2002, when the latest statistics were available, Legalzoom.com, ranked Nevada as the number one state in the nation for divorce. Arkansas ranked second, and Wyoming ranked third with 5.4. In cities, Reno, Nev., took top honors with the most divorces, with Las Vegas and Evansville, Ind., following behind.While there are no studies linking foreclosure to divorce rates, Dr. Frank Fincham, director of Florida State University’s Family Institute, said, “Financial problems among couples are one of the main reasons for divorce in this country today.” A recent poll commissioned by divorce360.com ranked financial issues as the number two reason that Americans divorce, with abuse ranked as number one. Dr. Jeff Sherrill, a Columbus, Ohio, psychologist with Meers Inc., said, "There is clear data on divorce and wealth....If you’re poor, your financial situation helps make marriage unstable. If you’re having trouble sustaining a stable life, it can result in divorce...” Randy Kessler senior partner with Kessler, Schwarz & Solomiany family law attorneys in Atlanta, Ga., said the downturn in the housing market is definitely causing more stress for couples, even if they are getting divorced. "For years Middle America thought it could get a divorce and use the equity in their home as a safety net, but there is no equity there is no equity today,” Kessler explained. “It used to be, when couples bought a house in five years it was worth more. And when people got divorced in those days they expected to be able to live for a while off the proceeds from the sale of the house....We do have a lot of people in trouble in this country because the value of their house decreased."Still, despite the serious financial drawback to divorce, Kessler said, “If you want a divorce it doesn’t matter what it costs you. Before most people get a divorce they have thought about it long and hard,” he said.

Don Moore is a veteran newspaper editor and reporter who spent more than 40 years working at newspapers around Florida.

He recently retired from the Port Charlotte, Fla., Sun-Herald. He can be reached at donmoore39@gmail.com
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Attention Buyer`s:Be very careful when dealing with Real Esate Companies who offer Rebates.

2008-03-28T05:23:00.000-07:00

Two weeks ago we closed a Condo located in Pembroke Pines.
The closing went well or at least I thought so.
We represented the seller.
Yesterday, we received a call from the buyer asking me when we`re going to send out a "Rebate Check".
Confused, I explained to the buyer how they determined we "owe them a Rebate Check".
Their explanation startled me and I began wondering "How often" this occurs.

It seems the company who wrote the offer had little or no contact with this person. They sent emails to this client with "MLS LISTINGS" but had little or no contact with them,except when they sent an offer.
The buyer contacted our office to view the home. We showed them the Condo asked if they`d like to view anymore in the area and they told us "No".
That was it, we assumed the Buyer was only looking and left it at that.
Much to our surprise we received an offer 8 days later and remembered the name on the offer.

We sent the offer to our seller, they signed the offer and we faxed the "Executed Contract" to the Buyer`s Agent.

Our job as a Single Agent was completed at the "Closing Table" .

The seller was ecstatic,everything went off without any hassle.We dealt with the buyer`s title company and had no real contact with the Buyer`s Agent.

Apparently, nobody remembered to go over the HUD-1 statement with the buyer,the buyer assumed they would be compensated by the Seller`s. Go figure.

The conversation is as follows:

Buyer: I`d like to know when I`m going to receive our 1.5% rebate check from your company. It`s been two weeks.

Me: Rebate Check? How do we owe you a rebate?

Buyer: Aren`t you the people who showed me the Condo? I thought the check comes from your company.

Me: Why would assume that?

Buyer: Well, huh, I can`t find the other company who we worked with.They don`t return our calls.

Me: To be honest with you, we have no idea what was promised by the "Rebate Company". I suggest you send them an email.

Buyer: Oh! I`ve sent several. I`m concerned now. I thought the Agent who sold the property gives us a percentage of the commission, isn`t that how it works?

Me: Why would I give you anything? We represented the seller.

Buyer: We bought the Condo from you.

I was at a loss for words. I suggested the Buyer contact an attorney and seek legal counsel.
Dealing with companies who promise Rebates make little or no sense, especially when you`re unable to find them after the Point of Sale.

Sigmund Freud would be having a field day with today`s sellers.

2008-03-27T03:27:00.000-07:00

I spent 1 hour on the telephone yesterday going over Comparables in the neighborhood with our client.
They`re upset with me due to the fact their home isn`t selling.After two months we`ve had 5 showings and no offers.
The competition in the area have recently lowered their homes on average $30K under our listing.
The seller refuses to listen to these facts and has decided to place the blame on me.

I feel like Freud as I write this blog.

There is a new breed of sellers since the housing crisis began two years ago.
This bred wants to blame their Realtors for the collapse of the housing market. Many believe we`re to blame for their homes not selling. Worse, we as Realtors accept the blame because in some cases these listings have been recycled 4 and 5 times by different Realtors who fuel the fires!

To understand the market today a Realtor needs to be a psychiatrist,social worker,baby sitter and punching bag. Sellers seem to take their frustrations out on the Realtor who is trying to accomplish one thing,which is the Sale of their home!
We advertise the home,attempt to locate a buyer,deal with mortgage brokers who are faced with the difficult task of getting a buyer approval. Sellers refuse to grasp buying a home isn`t as easy as it once was!
Many sellers have decided to lower their prices in hopes of "Getting Rid" of their home due in part because they can no longer afford it.
Some are extremely happy just to "Break Even" and walk away.
Others, believe their home should fetch a higher price because it`s their home. They don`t understand how fierce the competition is today.

The seller and I went back and forth. I accepted blame for the dollar, the yen, the shortage of buyers and other housing woes.
The seller felt confidant it was all "My Fault". After the conversation, i decided to email them a "Release" and "fired myself" from the listing.

In my email I explained I have many others listings who actually need my help.
Their listing is better suited for a Realtor who is able to stand guard of their home 24/7 with a "For Sale" sign around their neck.

The Proof is in the pudding. Agents who lie to gain a listing never win in the end!

2008-03-26T04:11:00.000-07:00

You can find great local Cooper City, Florida real estate information on Localism.com Scott Daniels Florida Real Estate 2.0. Agents Earn 100% Commission. is a proud member of the ActiveRain Real Estate Network, a free online community to help real estate professionals grow their business.

I like to think of myself as a Professional I have gained respect in our industry for being honest and upfront with people.Our job as Realtors is to make sure the information we supply to people is factual.
We deal a lot with sellers and our reputation for getting the job done is based on the number of homes we sell each year. In good times and bad a Realtor is judged by the amount of closed sales they completed.
There`s an old saying "The Proof is in the Pudding". Basically it all comes down to experience,knowledge and good salesmanship.
I`m sure we all agree in order to list and sell a property you really have to know what you`re doing.
You can`t fool people.When I deal with a seller I`m always honest and tell them the truth. If they believe my opinion or not, it`s important to make sure you`re assisting the client.
A seller truly gets infuriated,when a Realtor "Over Exaggerates" themselves. Hence, the problem some in our profession have. Many believe "It`s all about them", they forget the needs of the client!
Yesterday morning one of our clients arrived at our office to speak to me in regards to their listing. The home has been receiving mixed reviews from the potential buyer`s.
The seller has decided to seek other Realtors opinion`s in the area to gain insight as to why the home isn`t selling.She encountered one Agent who explained, she has been selling homes in the area "Like Crazy".
This agent went so far as to supply our client with a list of names of people`s homes she`s sold since January. Our client went ahead and spoke to these people who "Bragged about this Realtors abilities".
One major problem. The agent has given my client a list of bogus names and the sales she`s been bragging about don`t exist!
Apparently, this agent has her friends "Swear Up and Down" about her,which is a complete violation of the "Code of Ethics" and a major FREC violation!
Our client was furious when I went over this agent`s "Active and Closed Sales". For this agent to go out on a limb and violate every rule in the book is a disgrace and demonstrates how some in our profession refuse to believe there are serious consequence's to what they "Say or Do".
The client stormed out of my office yesterday swearing she was going to lodge a complaint against this Realtor for wasting her time! I can`t blame her, I do pity this agent who needs to use "Make Believe" clients in order to gain a listing.

visit us @ www.listfloridahomesforless.com

Ocala Florida Income Producing Property For Sale.

2008-03-25T10:03:00.001-07:00

Invest in Ocala, Florida:

Foreign Investors are realizing investing in Multi Unit Rental Property is a wonderful income producer.Rental Property has become a very hot topic with Foreign Investors.With the Euro worth $1.59-$1.00 it makes perfect sense to invest in Income Generated property throughout Florida!Marion County should be placed on this list of great destinations to invest and reside in.

Here is a partial list of investment property with excellent ROI and low Vacancy Rates.

These units can be purchased with 25% down.

For additional information on these units and others through out Florida please contact.The Scott Daniels Real Estate 2.0 Group @ 954-275-0200.Email:realestatefla1@yahoo.com

1-42 STREET, OCALA FL 34475

6PLEX BUILDING ALL ARE 3 BEDROOM/ 2 BATH APARTMENTS WITH ICEMAKER REFRIGERATOR/ STOVE/ DISHWASHER. LANDSCAPED IN COMMON AREA.

NEW CONSTRUCTION HAS YET TO BE COMPLETED.

ASKING $685,000.

2-NW 43 ST/19 CT, Ocala FL 34471

4 SEPARATE QUAD BUILDINGS ($53,687./APARTMENT) COMPRISED OF 16 UNITS FOR A TOTAL 24 BEDROOMS AND 16 BATHS BEING SOLD AS A PACKAGE. MOST UNITS HAVE NEWER CARPET AND TILE. FANTASTIC INCOME-PRODUCING OPPORTUNITY WITH UNITS CONSISTENTLY STAYING RENTED. 2 BUILDINGS BUILT IN 1984 ARE 2/1 AND RENT FOR $545/MONTH. EACH 2/1 HAS 780 SF LA & FEATURES CENTRAL A/C AND DISHWASHERS. THE OTHER 2 BUILDINGS, BUILT IN 1990 ARE 1/1 AND RENT FOR $445/MONTH. EACH 1/1 HAS 525 SF LA AND HAVE WALL UNITS FOR A/C.

ASKING $859,000.

3- W HWY 40, Inglis FL 34449.Excellent opportunity to purchase income producing property in Inglis, FL as total turnkey business. Currently operated as successful vacation rental B&B Lodge with owner's quarters and cottages. Additionally, two annual rental units are fully leased, bringing total rental units to 10. Main lodge has been totally remodeled and includes owners' quarters, new kitchen, theme guest rooms. Beautiful grounds feature lush landscaping, new screened pool, BBQ area, gazebo and Cottages with porches.

ASKING:$1,050,000

Mortgage Crisis Causing Divorce?

2008-03-22T12:15:00.000-07:00

Mortgage Crisis Causing Divorce?
Real Estate: Home Mortgage Crisis May Boost Divorces in U.S., Experts Say By DON MOORE The home mortgage crisis in the United States has spawned problems in the mortgage, real estate and banking industries, and many consumers are now facing mortgage payment increases in the coming months that could cause the number of home foreclosures to climb even higher. And all of those financial woes may be spawning another problem as well -- an increase in divorces, experts say."Historically the three most likely reasons for foreclosure problems are: loss of job, loss of health and loss of spouse. On top of that, these days, escalating mortgage payments are exacerbating the divorce problem," Nicholas Retsinas, director of Harvard's Joint Center for Housing Studies, said. While the Harvard housing expert said it's too soon for a definitive study linking divorce to the country's recent foreclosure woes, Scott Daniels, an Ocala, Fla. Realtor®, doesn't need a study to tell him what he already knows -- the mortgage industry crisis is causing an increase in the number of couples who are getting divorced. "In the last three months, we have accepted five listings which are divorce sales. In each instance, it's do to the obligation of meeting their mortgage payments," he wrote in a blog he posts regularly on the Internet. "Faced with pressure, these couples are blaming one another! Rather than attempt to work together to resolve the problem, they find it easier to separate. They each have in common the same exact problem: No one is able to make a decision on what price to sell for! "Daniels, of Florida List for Less Realty, said financial woes caused by variable mortgage rates "are really straining to a relationship. When times are good, people are happy. They love and laugh in unison. When the world is bad, they get ugly with each other. Human nature is funny that way."Daniels thinks once statistics between the mortgage rates and divorce rates are compiled, the public will see a national trend. "It's a trend that will continue as long as real estate prices spiral down. Many couples can't face the reality of mounting bills, higher mortgage payments and decide it's better to part. As we move forward this trend is happening at an alarming rate leading to foreclosures," he maintains. In response to his blog, Daniels said he received 50 to 60 replies from Realtors® around the country who agreed with his assessment that the mortgage problems are leading to more and more foreclosures -- and more and more divorces. In 2002, when the latest statistics were available, Legalzoom.com, ranked Nevada as the number one state in the nation for divorce. Arkansas ranked second, and Wyoming ranked third with 5.4. In cities, Reno, Nev., took top honors with the most divorces, with Las Vegas and Evansville, Ind., following behind.While there are no studies linking foreclosure to divorce rates, Dr. Frank Fincham, director of Florida State University's Family Institute, said, "Financial problems among couples are one of the main reasons for divorce in this country today." A recent poll commissioned by divorce360.com ranked financial issues as the number two reason that Americans divorce, with abuse ranked as number one. Dr. Jeff Sherrill, a Columbus, Ohio, psychologist with Meers Inc., said, "There is clear data on divorce and wealth....If you're poor, your financial situation helps make marriage unstable. If you're having trouble sustaining a stable life, it can result in divorce..." Randy Kessler senior partner with Kessler, Schwarz & Solomiany family law attorneys in Atlanta, Ga., said the downturn in the housing market is definitely causing more stress for couples, even if they are getting divorced. "For years Middle America thought it could get a divorce and use the equity in their home as a safety net, but there is no equity there is no equity today," Kessler explained. "It used to be, when couples bought a house in five years it was worth more. And when people got divorced in those days they expected to be able to live for a while off the proceeds from the sale of the house....We do have a lot of people in trouble in this country because the value of their house decreased."Still, despite the serious financial drawback to divorce, Kessler said, "If you want a divorce it doesn't matter what it costs you. Before most people get a divorce they have thought about it long and hard," he said.

What took Freddie and Fannie so long to come to the rescue?

2008-03-20T04:51:00.000-07:00

What took Freddie and Fannie so long to come to the rescue?

With Fannie Mae and Freddie Mac agreeing to expand their purchases of US mortgages one has to wonder what took them so long?
These two institutions are the biggest source of money for US home loans. With a new infusion of capital this can benefit the housing market or at least slow the carnage which has been dogging our economy for two years.

One upon a time this was exactly the purpose of having Freddie and Fannie,somehow between horrific book keeping procedures and a lack of good management these two behemoths have been lost in the malaise for the last 5 years! How did this happen and why?
From all accounts it appears an infusion of $200 billion will be placed back into mortgage back securities. If this happens this can guarantee both entities are able to back almost $2Trillion in new mortgages.

Although I`m a bit skeptic, if this is properly executed the "housing market" could stabilize in a year.

Next issue we as Americans need to deal with is the "Credit Crisis" which can hamper the entire reason why Fannie and Freddie have jumped back into the housing market.

Hiring the right Realtor to represent you in a Short Sale is important.

2008-03-18T03:50:00.000-07:00

We received a call yesterday from a person who`s home is in jeopardy of foreclosure.
It seems the Realtor they hired made two fatal mistakes when accepting the listing.

1- They treated the listing as if it was a residential sale,when in fact it`s a duplex. The home wasn`t placed properly on the MLS.The home is "Income Property" where rent is collected.

2- Apparently, the seller felt the home should have been originally priced higher than homes in the area sell for.For whatever reason this Realtor,listened to the seller without doing a proper CMA.With only a few weeks left before "Foreclosure Proceedings",the Realtor finally recommends to the seller they "Hire a Realtor who has experience dealing with Short Sales".

It`s never easy to admit as a Real Estate professional you`re not fully experienced in certain aspects of Real Estate.

Dealing with a "Foreclosure,or Short Sale" requires a lot of experience.

The seller and I discussed the situation. I immediately gave them two options. The first was to lower the price based on Closed Sales in the area.The second was to make sure this home was cleard of two liens which were placed on it by the City.

Rule #1 in a "short sale" clear up all liens before placing a home on the MLS For Sale.

It saves time and there is less brain damage to deal with down the road!

The seller went back and forth with me on the sales price. In truth this seller isn`t easy to deal with.

If they`re hiring you for your experience they`ll either take your advice or they won`t. everything.

The Real Estate market has shifted once again, not every seller will be able to "Walk Away" from their homes without consequences.

Therefore, it`s advisable to hire a Realtor, with a proven track record and experience when selecting a Professional to represent you.

For additional information:

Contact: The Scott Daniels Real Estate 2.0 Group @ 954-275-0200.

Visit our web site: www.listfloridahomesforless.com

Cooper City Florida Executive Rental Suites For Rent.

2008-03-13T09:47:00.000-07:00

Now Renting Executive Suites from $550-$1900 Per Month.

Prime location on Griffin Rd. East of Nob Hill Rd.

We have several units to select.

For additional information please contact the Scott Daniels Real Estate 2.0 Group at

954-275-0200.

Email: realestatefla1@yahoo.com

Corporate Office for Florida List For Less Realty,Inc.

2008-03-05T15:17:00.000-08:00

Office Located at:

9114 Griffin Rd.

Cooper City, Florida,33328.

web site : www.listfloridahomesforless.com

tel:954-275-0200.

email:realestatefla1@yahoo.com

Our Thank You Video to our clients.

2008-03-04T08:03:00.000-08:00

We`ll market your home with the latest technology available.

2008-02-23T04:18:00.000-08:00

We`ll market your home with the latest technology available.

Marketing a home in today`s competitive Real Estate market is extremely important not to mention viable for the sale of your home.

At Florida List For Less Realty,Inc. we go through tremendous effort to market and sell your home in a timely manner insuring our clients receive the maximum amount of exposure.

It`s imperative to have a Realtor who uses new and innovative marketing techniques rather than someone who is more intent just to place a sign in the yard and hold two "Open Houses", believing that`s all it takes to sell a home!

Let`s face it.
Selling a home was a lot different than it was 10 years ago.
Today with the Internet many potential clients make decisions viewing homes on line.

We receive inquiries each day requesting information from people from all over the world.
Therefore, we decided 3 years ago to immerse our company into new technology to assist these individuals.

Whether it`s using a virtual tour, or video we believe a "Picture is worth a 1001 words".
Many times we`ve received offers from buyer`s who have only viewed or videos and have sent offers.

For additional information on how we can "market and sell your home" .

Please contact:
The Scott Daniels Real Estate Group and Florida List For Less Realty,Inc.
tel: 954-275-0200
email:realestatefla1@yahoo.com
web site:www.listfloridahomesforless.com