realtor (98)

Palo Alto Probate Home

This is a question I get asked all the time. When an owner has passed and has rental property should the heirs sell the Palo Alto probate or trust home with the tenants in place, or wait until the lease is up?

 

While most years I would say wait until the tenants are gone but with the uncertainty of how interest rates will affect prices and what will happen to a Palo Alto market that has already shown signs of slowing, even with very tight inventory, the answer is not clear cut.

 

Sell Palo Alto Probate or Trust Home With Tenant: Pros:

 

  1.      Palo Alto school Priority 1 Registration goes from Jan 12 thru Feb 15th. That is the best chance of getting your child in the school closest to you. There is always a space in a Palo Alto school for a resident, but getting the one closest to you is best obtained if you are a resident during this period. Selling with tenants in a  Palo Alto probate rental may allow the buyer to get a leg up on school registration for the next year.
  2.      Interest rates are lower now than they will be next summer, or even in March and maybe Feb. A 3 million dollar Palo Alto probate home has a very good chance of having a loan on it so the less a buyer has to pay for the mortgage the more they can afford for the home. For every 1 point increase in interest rates there is a 10 % increase in payment.
  3.      The inventory is very low and the Palo Alto housing is market still active. It is unknown what will happen as the year goes on. The market could go down as interest rates go up, or if there is a natural disaster, a world event, or terrorist attack.
  4.      Some people who buy Palo Alto homes in Probate or Trust early are happy to rent the house out until the end of the school year because they do not want to move until school is out if they are relocating.

 

http://www.marcymoyer.com/trustandprobatesaleshttp://www.marcymoyer.com/trustandprobatesales With a Tenant Cons:

 

  1.      Harder to show house
  2.      You will not be able to make interior upgrades or stage with a tenant in place so it may depress the price somewhat
  3.      The tenant may be messy or say inappropriate things to potential buyers which could depress the price.
  4.      If the tenant does not have beautiful furniture the professional pictures will not look as good.

 

Sell Palo Alto Probate or Trust Home After Tenant Lleaves Pros:

 

  1.      You can have the interior painted, wood floors refinished, new carpet, and any other cosmetic upgrades you want that will help bring in more money.
  2.      You can professionally stage the property and the photos will look much better.
  3.      Much easier to show the house and have open houses which bring in more people and help bring in a better price.

 

Sell Palo Alto Home in Probate or Trust After tenant leaves Cons:

 

  1.      Interest rates will be higher which will depress the price. It is unknown by how much because it also depends on how the stock market is doing, most likely for Apple, Google, Facebook, and Linkedin.
  2.      If there is a trade war with China tech stocks could be hurt more than other sectors. This would make less money available for down payments for most of the buyers in the area.
  3.      If the dollar continues to be strong foreign investors will be much less likely to be buying homes in Palo Alto.
  4.      The best time to sell a home in Palo Alto in from Jan thru early June. The second best is the fall. If the tenants are out in June and the home is prepared in July and Aug and on the market in Sept you have missed the best time, but may get the second best time, but only by waiting until Sept to put home on market.

 

So as you can see the answer is not clear. No one can say for sure what will happen to the real estate market in 2017. If you are in this situation now it is probably a good idea to add your own Pros and Cons to this list to get a feel for what may work best in your situation.

 

If you have any questions about selling a home in Probate or Trust please feel free to contact me.

Marcy Moyer

Keller Williams Realty

Specializing in Probate and Trust Sales

650-619-9285

marcy@marcymoyer.com

www.marcymoyer.com

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Buying A San Jose Condo That is in Litigation


Brickyard San Jose

Developers don’t build condos with the intention of sloppy work that they hope no one will notice. But never the less, they almost always get sued in about year 8-9.

 

In California, new construction comes with a 10 year warranty on latent defects on the structure. In plain terms home owners and homeowner associations have 10 years to sue a developer if they find problems with the structural components of a building such as the roof, walls, plumbing or electrical systems, garages, decks, etc.

 

So, around year 8, if no problems have emerged, many HOA communities will hire a company to look at the building and see if there are potential problems that can happen due to faulty construction. If there are known problems they hire someone to try to figure out the fixes to the issues.

 

The communities will approach the builder to fix the discovered issues, and if the builder does not feel there is a problem, or the problem is not their responsibility then a law suit may be filed.

 

Once the suit is filed most lenders will not make loans on the property. The few who do will charge interest rates 1 to 2 pts higher than a traditional lender.

 

This can put the brakes on sales in the development, and will temporarily depress the price.

 

If you are a cash buyer, buying a San Jose Condo in litigation for a rental property can be a good idea if you follow these steps:

 

  1.      Look at the report that explains what the problems are that need to be addressed. If the issues are ones that do not need immediate attention that is better. If the plumbing system has failed, or there is major water intrusion into the building the homeowners may be hit with a special assessment during the multi year lawsuit. Even if the HOA of the San Jose condo in litigation wins the individual homeowners may not be reimbursed.
  2.      Find out what the estimated cost to repair the issues are for the San Jose condo in litigation. Take that number and divide by the number of units, or if available the percentage of ownership the condo in question has. So if the estimate is 10 million dollars, and there are 500 units with equal shares then each unit would be responsible for about 20 thousand in repairs if all units pay condo fees equally.
  3.      Find the market value of the condo you are interested in by looking at the most recent sale of that model before the San Jose condo litigation.
  4.      Subtract the amount of potential assessment.
  5.      If the market is slowing down overall subtract more.
  6.      Explain that you are taking the risk that the HOA of the San Jose Condo in litigation will not prevail in court, and even if they do the homeowners may be assessed before then. You are taking that risk, and buying when most others are not able. You are betting that you will not be assessed.
  7.      Even in a very hot market, this is a good way to get a better price on a San Jose condo in litigation than you would otherwise be able to.
  8.      It is safest to do it when the builder is a very large and stable company, rather than a less well capitalized entity that is more likely to go bankrupt.

 

There is obviously risk involved, but since such a large percentage of builders get sued, it can be a good long term investment. For example, The Brickyard in San Jose was in litigation in 2011-2012. During 2011 one bedroom condos sold for $140,000-$180,000. The litigation was setteled and in 2016 one bedrooms condos sold for $365,000-$395,000. If you bought a condo for at The Brickyard with cash in 2011 for  you would have at least doubled your money in 5 years plus get an additional $800 to $1500 a month profit in rent over the last 5 years. And this was a building with serious problems that have now been fixed with proceeds from the successful law suit.

Most suits are settled, the deficiencies are fixed, and the San Jose condos in litigation go on to appreciate.

 

If you have any questions about buying a San Jose condo in litigation as a rental property please feel free to contact me.

Marcy Moyer

Keller Williams Realty

Specializing in Probate and Trust Sales

650-619-9285

marcy@marcymoyer.com

www.marcymoyer.com

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On Nov. 8th Mountain Voters approved Measure V, commonly known as the Rent Control Measure. If you are the Administrator of a Mountain View Probate Estate that has rental property to sell this is a huge deal. You need to know the rules in order to make sure the property is sold without breaking any new laws.

 

What does restricting rental price increases have to do with selling a Mountain View rental in Probateyou may ask? Well, I’ll tell you.

 

The reason is MOUNTAIN VIEW JUST CAUSE EVICTION.

 

Measure V relates to not only rent control, but also JUST CAUSE EVICTION.

 

Just Cause Eviction means that tenants cannot be asked to vacate just because the lease is up or they are on a month to month rental and you give 30 or 60 days notice (if they have been there a year or more).

 

Tenants can only be told to leave a Mountain View Rental Property under the following circumstances:

 

  1.      Failure to pay rent or other breach of lease
  2.      Continuing failure to give landlord access
  3.      Repairs that will last over 30 days that are needed for code upgrades or health and safety reasons. NOTE: COSMETIC REPAIRS ARE NOT INCLUDED IN THIS EXEMPTION. This would include a kitchen or bath re-model to make the property more valuable.
  4.      Owner or family member going to occupy the entire property
  5.      Withdrawal from rental market with 120 day notice to tenant, unless over 62, disabled, or a tenant for 5 years or more. In these circumstances you need 1 year notice.

 

The good thing is that single family homes, condos, and duplexes are exempt from both rent control and Mountain View Just Cause Eviction. If you are an Administrator of a Mountain View Probate Estate that has a four- plex or more units to sell Mountain View JUST CAUSE EVICTION rules will apply to the estate.

 

Some things you should NOT do before selling the building are:

 

  1.      Try to evict the tenants because they make the building look messy.
  2.      Try to evict the tenants because the property is dated and you want to upgrade it before putting it on the market.
  3.      Raise the rents above the allowable rent increase so the CAP rate looks better and makes the property more valuable.

 

Some things you can do when you are selling a Mountain View Four-Plex  or larger building in Probate.

  1.      Paint the exterior
  2.      Make sure the tenants do not leave personal property outside the building
  3.      Upgrade the landscaping
  4.      Give the tenants an incentive to keep their apartments clean and allow showings.

 

This law is new, and takes effect Dec 23rd. There is an emergency ordinance that was passed Nov 16th to keep landlords from evicting tenants in order to raise rents on vacant apartments before that date, so if you are reading this before Dec 23rd you are out of luck anyway.

 

Just remember the Mountain View rental market is strong, and even with rent control and Just Cause Eviction there will be buyers for your Mountain View Apartment in Probate so relax, hire a great real estate agent who knows Probate (like myself) and let the process work itself out.

 

If you have any questions about selling or buying Probate property in Santa Clara or San Mateo County please feel free to contact me.

 

Marcy Moyer

Keller Williams Realty

Specializing in Probate and Trust Sales

650-619-9285

marcy@marcymoyer.com

www.marcymoyer.com

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Another milestone reached by the mortgage industry reform: the end of the  disclosure forms confusion! Provided to those applying for a mortgage, these forms were originally created based on two separate federal statutes: Truth in Lending Act (TILA) and Real Estate Settlement Procedures Act (RESPA). The duplicate information as well as erratic language of these two separate documents, lead to an immense amount of confusion. Apart from those two documents, there were also two sets of disclosures: one provided when applying for a mortgage, and the other provided at the closing or just prior to closing on the loan. The consumers weren’t the only ones confused -even the lenders had a difficult time completing the forms. Basically, if the lenders weren’t even able to understand the verbiage, how could they possibly explain the documents to the consumers? 

[Update: The Consumer Financial Protection Bureau announced a proposal to delay the effective date of the TILA-RESPA Integrated Disclosure rule until Oct. 1.Click here to read more.]

The resolve (hopefully) . . two new, straight-forward disclosure forms. This change will apply to all consumer mortgage applications received on or after August 1, 2015. The change is currently being referred to as “TRID,” for TILA-RESPA Integrated Disclosure.

The changes . . In a Nutshell

♦ With TILA, lenders use a uniform system for disclosures, including the same credit terminology.

♦ The Real Estate Settlement Procedures Act (RESPA) applies to any federally related mortgage loan, generally including any loan secured by a first or subordinate lien on family residential property (1-4 units).

♦ CFPB was responsible for integrating the existing disclosure requirements with the new amended requirements by combining the RESPA and TILA disclosures.

♦ The integrated mortgage disclosures use language that is designed to help consumers better understand the mortgage loan closing transaction.

♦ The new “Loan Estimate” form integrates and replaces the existing RESPA Good Faith Estimate (GFE) and the initial Truth in Lending forms.

♦ The new “Closing Disclosure” form integrates and replaces the existing RESPA HUD-1 and the final Truth in Lending forms.

♦ The integrated disclosure rule does not apply to HELs, reverse mortgages, mobile homes and dwellings not attached to real property, or for those making 5 or less mortgage loans per year.

♦ The definition of an “application” has been changed; now, an application consists of six pieces of information which are submitted.

♦  Consumers can’t be charged for fees until after they’ve been given the Loan Estimate form and consumers have agreed to proceed with the transaction.

♦ The Loan Estimate is provided to the consumer within 3 business days after submitting a mortgage loan application.

♦ There are only six legitimate reasons for revisions to a Loan Estimate form.

♦ The Closing Disclosure form integrates and replaces the existing RESPA HUD-1 and the final Truth in Lending disclosure forms.

♦ A Closing Disclosure is provided to the consumer so that they have a 3 business day waiting period before closing on the mortgage loan.

♦ There is now a three business day requirement once the consumer has received the Closing Disclosure, representing a waiting period for the consumer to review the disclosure.

♦ The lender now has all the liability for preparation and delivery of the Closing Disclosure form, even if they allow the escrow company to do it.

♦ The new Integrated Disclosures must be provided by a lender or mortgage broker that receives an applicationfrom a consumer for a closed-end credit transaction secured by real property on or after August 1, 2015.

♦ For a Loan Estimate, a “business day” is a day on which the lender’s offices are open to the public for carrying out business functions.

♦ For a Closing Disclosure, a “business day” includes all calendar days except Sundays and legal holidays.

♦ The Loan Estimate must be delivered or placed in the mail no later than the 3rd business day from receipt of the mortgage loan application.

♦ The Closing Disclosure must be placed in the mail no later than the 7thbusiness day before consummation of the loan.

♦ The “Your Home Loan Toolkit: A Step-by-Step Guide” replaces the HUD Settlement Cost Booklet.


Key Points derived from The CE Shop “RESPA/TILA Changes: Are you Ready?” course. Right now the course is completely free when you use the promotional code (respafree) at check out. No credit card info is required.

THIS IS NOT AN ADVERTISEMENT AND FSI-VAS WAS NOT PAID FOR THIS POST. WE SIMPLY JUST WANTED TO SHARE THIS AWESOME OPPORTUNITY WITH ALL OF YOU. DON’T FORGET TO FOLLOW US ACROSS ALL OF THE SOCIAL MEDIA PLATFORMS AS WELL AS SUBSCRIBE TO OUR MONTHLY NEWSLETTER!

-Team FSI-VAS

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Rules Relaxed on Home Buys Following Foreclosure

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At last there may be some relief for those that have gone through the suffering of not being able to pay the mortgage and then finding eviction looms through the foreclosure process. If you have ever been in the unfortunate situation of being a homeowner that cannot keep up the monthly payments, you will know all too well how debilitating the process of eviction and foreclosure would have been.
You would also undoubtedly be thinking that any future home purchase is probably off the cards and something you’ll never be allowed to do again in the future. Well there may be some hope on the horizon for those that have gone through foreclosure but it’s not all good news, I’m afraid.
New rules are set to be introduced in the United States that will allow those that have gone through foreclosure to move back into home ownership far more quickly than previously allowed. But critics are suggesting the new relaxation on time is purely theoretical. This is because lenders are unlikely to go around grabbing any former homeowner that has gone through the pain and poverty of foreclosure and now wants to try the process all over again just months after losing their last home.
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Fannie Mae and the Federal Housing Association are certainly two entities that are on board with the idea but it’s not much good for a prospective homebuyer who wants to get their feet back in the property ladder following recent foreclosure if the lenders won’t play ball.
FHA rules have been changed to allow any potential homebuyer the opportunity to buy another home within 12 months of foreclosure providing two conditions are met: the first condition must be that when you lost your home it must have been due to economic conditions that were out of your control. Secondly, you must go through a program of housing counselling; this may be something like a week-long course where you will be made aware of the pitfalls of investing in a home that may or may not be able to afford.

Mortgage lenders will normally keep you waiting seven years after foreclosure before even considering lending out more money. If you have been forced to a deed in lieu or a short sale, the wait is often only two years. However, you will still need low debts and a certain salary level before being considered for mortgage approval.
Credit: www.pamsvas.com - Real Estate Virtual Assistants
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If you fail to keep up your homeowners’ association fees or complete the annual assessments, the HOA could end up foreclosing. Its par for the course these days that when you purchase a home, condo or town house, that happens to be a communal development, then you will most likely have to pay fees to a housing association.

Now what would happen if you simply ignored these fees or failed to meet the annual assessments? The Housing Association would apply to get a lien on your home and this then leads into foreclosure (assuming you still fail to settle up with your housing association).

The Homeowners’ Associations are a body that sets up to look after the communal garden areas, essential repairs in stairwells, cleaning, lighting for communal hallways and exterior electricity bills. All this maintenance costs and it recovers its cost from the lease holder. Failure to pay up means a service is being provided to you and you are essentially not paying for it.

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Other work that the housing association must carry out includes removing snow, landscape gardening, fitting new communal windows and repairing roof tiling.  Some of the more-modern condo complexes have swimming pools, gyms, clubhouses and tennis courts which can be used by the residents. All of these amenities need regular maintenance and cleaning, so the fees required by the association are likely to be higher in these luxury blocks.

The housing association also has to enforce the rules within the community; if one resident happens to be playing music loud late at night and making life a misery for all the other members of the community, the association must act and the administration work to remedy anti-social behaviour can mount up in both time and money.

HOA fees can often spring a surprise one-off fee for those complexes that need work carried out on a one-off basis. An example of this would be that a condo complex may need new exterior windows and fascia repairs following a wild storm or even hurricane; these “special assessment fees” are an unfortunate but necessary payment that will land in the lap of the resident – but not as a regular payment but as a one-off fee and comes in addition to regular payments being made.

Before taking out a homeowner association property you should read the terms and conditions on payment of fees should you default at any time, as some associations may charge interest on late payment as well as collection cost fees (if an agency was involved in the fee recovery).

Source: www.pamsvas.com

Real Estate REO and BPO Virtual Assistants

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In business and commerce circles, the big news just days into October is the buy-out of Move Incorporated by the newspaper and media giant News Corporation. So who are Move Inc and why did News Corporation decide to splash out an eye-watering $950 million for the business? In the United States, Move Inc stands as the third biggest online real estate listing firm. It helps home buyers and sellers to purchase a new home by providing them with tools, guides, information and professionals from the real estate industry to make that purchase run as smooth as possible.

News Corporation is essentially a newspaper publisher which began its business from South Australia and later moved into New York to become the second-largest newspaper and media organization in the world. It now want to increase revenue and expand its business beyond just selling papers and promoting a media front and real estate is seen as a pretty good sector to get the turnover and extra revenue it now seeks.

As for Move Inc, the buy-out could see the online real estate listing agency become a real giant and a major player in the U.S. online home retail market. Robert Thomson is the Chief Executive Officer at News Corporation these days and he predicts Move Inc will soon become the United States’ biggest online real estate listing firm, thanks to News Corp’s influx of cash and support.

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News Corp needs a change after the scandals of 2011 when the company was forced to close down its best-selling Sunday newspaper in the UK, News of the World. Allegations of phone hacking seriously depleted the organization’s reputation both in the United Kingdom and abroad.

Mr Thomson also believes that online home buying and internet real estate business is a growing market that has not yet taken off to the heights he believes it could reach. News Corp are convinced this sector is still in its infancy and is at the early stage of development. If it is right then the prospects for extra revenue could be huge in years to come.

There is no doubt that more and more people are now using the internet to buy their next home. Many Americans have actually purchased real estate by using self-help tools and become their very own real estate agent, just like many have booked their vacations online without using a travel agent.

Only time will tell if this was the best move for News corp and to see what direction Online Real Estate Listing Services will take.

pamsvas.com - Real Estate Virtual Assistant Services

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What do Real Estate Agents do to Sell a Home?

Outside of the legal and medical professions, most industries are filled with people that work their tails off without the general public understanding their line of work. This is quite common for people that work in the real estate industry. Here are some of the many things that an agent does to sell a home for a new listing.

Extensive Photos

realtor-pin-1As the old saying goes “a picture is worth a thousand words.” Real estate agents will take lots of pictures to show off the best aspects of the home. When prospective buyers have an opportunity to see multiple pictures of a place before they view the property it helps to get the buyers more familiar with the property. It also reduces the number of people who are certain they will not buy a home based on the presence, or lack of, certain features.

Social Media Announcement

With multiple pictures of the property in hand, an agent can post to the various social media sites and alert all their friends and connections that the home is now available. With the multiple interactions found on most of the social media sites this is a great way to spread the word and let potential buyers know about the home's availability and best selling points. Good agents post to multiple sites like Facebook, Google +, Twitter and even Pinterest.

Newsletters

Many real estate agents connect with their past clients and prospects by sending out a monthly or quarterly newsletter. The newsletter can be sent via email or the old fashioned way of postal mail. This gives the agent a chance to pass along helpful information, such as home maintenance tips, energy saving advice as well as all of their new home listings. This is an easy way to reach people that may not be active on social media and still give them a chance to see the home in pictures.

Emails

Some agents aggressively market their listings by sending out emails to their prospective buyer base. These email lists are built over time from a multitude of different sources like, previous clients, internet leads and people that have signed up via their website. Since some home buyers can spend many years searching for a home, this large database of previous contacts can be a key component to selling your home.

On top of that, most agents will present any new listings to their own personal buyer clients who might be interested. Since they have in-depth knowledge of the home, it's much easier to explain the benefits. They will also share the new listing with other agents in their office/company in hopes they promote it to their buyer clients.

MLS Listing

One of the most important things an agent can do is list a home with the MLS (Multiple Listing Service). This service is accessible by local real estate agents and to Realtors® across the country via certain home search websites. When a buyer comes to an agent and asks for a list of potential homes, the agent will use the MLS service to find all available homes in the area. Agents pay yearly to have access to this database in order to be ready when either a buyer or seller is in need.

Showings

When a potential buyer wishes to see a home the real estate agent is the one that meets them at the home and gives them a tour. This is where the real estate agent can show off the home and brag about the top features of the property. Agents often make themselves available day or night for showing to accommodate the schedules of both the buyers and the sellers.

Open Houses

Agents often hold open houses on the property. These typically occur on the weekends, most commonly on Sunday. Occasionally, open houses are held on weeknights as well. An open house provides a 'no pressure' forum for people to tour the home. Many times the attendees are not actively looking to purchase at that moment and many visitors will actually be neighbors. Either way, getting your home in front of the largest audience is key. Any open house visitor could know someone 'in the market' for a home who they may tell.

An experienced real estate agent will put together a complete marketing plan for any new listing to give their client the best chance of selling the property at the anticipated price. Click the following link to see how Rock Realty can successfully market and sell your house: Rock Realty Home Marketing Plan

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Signs That You are Ready to Be a Home Seller

Selling your HomeMost people easily recognize when the time is right to buy their very first home. They are tired of their current situation and the appeal of getting their own place is too enticing to resist. However, the signs are not quite so easy to notice when it is time to sell the home. Some home owners have a long, drawn out inner debate before coming to the conclusion that they need to sell and move to another place. Here are some ways that you can know the time has come for you to sell your current home.

The Attachment to the Home is Gone

Many people hang on to a home for far too long because they are emotionally connected to the home. The nursery where they brought home their first born, the hallway where a baby took its first steps and other sentimental memories make it tough to part ways with a home. However, if the idea of selling the home brings about a feeling more of relief and not sadness then you are emotionally ready to move on.

A New Plan Has Developed

If you have already picked out another home, or decided what the next home should look like and what features are necessary, then you are ready to move on. Knowing where you wish to live and what the house should look like is a huge step in getting ready to sell your current home and move to a new place. This type of preparation is typically very motivating for most people and helps them to get everything in order for the move.

Your Finances are In Order

Getting ready to purchase that first home is quite an experience for most people. Monitoring credit scores, reducing debt and keeping all payments up to date while saving up a nest egg takes time and discipline. However, once those habits are in place it is easier to maintain a solid credit score. Also, if you have been in the home for any length of time it is likely that there is built up equity which can be used as a down payment on the next home. All of these factors make it simpler to sell a home and be in the right financial position to purchase another home.

It is Time to Move On

Lots of people have come to the realization that they need to change jobs, end a personal relationship or sell some of their long held items. When the thought occurs to you that you would be OK with the idea of getting rid of your house, then the time has come to move on to a new place.

Sell your home for top dollar, by putting it in front of the largest online pool of buyers! Check out the Rock Realty Marketing Plan.

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The 80/20 Principle is actually a concept that could change your life, or at least the very way you approach your way of living. We use the 80/20 Principle in many aspects of our real estate virtual assistant company. The principle that is sometimes primarily aimed at business people, in our case Real Estate, but the rule is easily applied to every human being and can work for anyone in any situation, not just REOs and Foreclosure processing.
Most of us are not big on math, so the idea of understanding a formula is likely to scare us away at first. But don’t be put off by the figures – the mathematics of it all is easy. The principle actually began in Italy when a positive thinker and economist fan called Pareto noted that 80% of all the income that Italy enjoyed was being taken by just 20% of the population.
However, this rule holds true in other situations such as 80% of all your outcomes come from just 20% of your input. You could also argue (with a correct analysis) that 20% of your activities provide you with 80% of your financial income.
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While it is certainly the case that in business the 80/20 Principle applies, it is so much more fun when we apply the rule to your everyday happiness and social life. But never forget that money so often provides us with happiness – or at least prevents us from the bad feeling of poverty and debt, so an important role in your happiness and your cash is hugely influenced by 80/20 principles.
Other business example are that 20% of all employees are responsible for 80% of any company’s output. Also, you may look at matters much closer to home; your mobile phone for example – Let’s say you have 100 people in your contacts list, it’s a sure fire bet that just 20 of those folk who receive calls and call you on your phone represent 80% of all activity on your call log.
The same examples can be found in email correspondence, the amount of colleagues you speak to at work. If you have 10 people in your office, you will speak to two of them about 80% of the time.

The message to make this work for you is simple enough – focus on those things that produce the best outcomes for you and you will enjoy the revenue in greater numbers and save so much time in your daily life, and as many of us know, time can be more valuable than money.
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The latest mortgage rate trends

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Investors in financial commodities such as the dollar and government bonds have been watching very closely at mortgage rate trends, primarily to see if the Fed will push interest rates up. According to Bankrate.com, a national survey firm of big lenders, the 30-year fixed rate mortgage level is down from 4.31 to 4.30 per cent. It may be a small dip but when you think a year ago (in July 2013) this figure stood at 4.56 per cent, you can start to see a downward trend.

 

Even the benchmark rate for fixed 15-year mortgages was down from 3.41 to 3.40 per cent in the space of just a week. The thing is rates have been in some kind of financial hibernation for what seems like ages and this might be explained by a series of unstable economic figures that have been coming out.

 

But experts believe rates might well start to fluctuate during August and September but they are certain to stay well below 5% for some time to come. Earlier this year, experts had predicted that the mortgage rates would start to rise and it has come as a bit of a surprise that here we are, more than half way through the year and the rates are still so low.

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It seems that the prime factors that so often move the markets have a very small effect. In other words, a piece of economic news will come out and suddenly the markets move – but then, just an hour later they drop back to the very position they were in before. The pause in massive rate changes has to be down to confusion within investors; they receive economic news and act upon it but caution and fear prevents any chance-taking and opportunistic investing such as the likes we saw back in the earlier years of this century.

Take the example of the latest figures released on unemployment; this ratio of those out of work fell sharply and that means with more people in work, spending should go up. But consumers are still very cautious about spending money and if you don't spend money, the economy just can't get going. Moreover, a stagnant economy means growth cannot happen and interest rates are likely to stagnate too.

 

Home buyers are wary – very wary. The housing market downturn around 2007 clearly still has a long-lasting and damaging effect on us, and will do so for several years to come.

www.pamsvas.com

 

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If you have been searching for homes online, then you know the 3 top sites for real estate listings: Realtor.com, Zillow.com and Trulia.com. All 3 have their own unique differences, and you probably have your favorite, I know I do.
Zillow has only been around for less than a decade but has spawned millions of customers who feel online searching for property is a first step must. Zillow is known for their “Zestimate”, which many agents don’t find that helpful, but many home buyers like to rely on for accurate value estimates. A true estimate of a property’s value takes many factors into account, more factors than the Zillow algorithm calculates, like curb appeal, condition, upgrades, roof age etc.
Trulia is another real estate website that was also launched in 2005 (like Zillow) and this San Francisco-based site filled an important gap in the market. For years, potential homebuyers in the Bay Area were complaining about the lack of available information on property for sale in the San Francisco area and beyond. More often than not, the home prices were out of date or had been knocked up (or down) and the fact that so many sold homes were still appearing in magazines and newspapers despite saying otherwise was a source of great frustration for many property seekers in California. It was like finding gold in a valley, only to discover when you picked it up that someone else had already claimed it.
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Realtor.com has a slightly less user friendly layout and appeal, but since it was born a bit earlier than it’s competitors, many people have become use to it’s functionality and are loyal to it.
Now I do need to mention 1 other platform that is quite popular with consumers and that is the Coldwell Banker home search website. Now, Coldwell Banker is a Real Estate franchise and each office is independently owned, but their website for national home searches is quite competitive to the “Big 3”. And more specifically for California, californiamoves.com is even more popular for California specific home seekers.
After you try each site for a while, you’ll find the one that fits your needs best and the one that you are most comfortable using. This, in addition to a great Realtor, should make your home searching and buying a enjoyable experience.

Have fun!!
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Amidst the recovering real estate market, it can be observed that the usual word-of-mouth tactics employed by private homeowners is not helping. If it does, this usually leads to a decrease on your price tag. If you want to sell your home in a fast and efficient manner with the price you desire, listing it with a competent realtor will definitely do you good. These people are seasoned professionals when it comes to selling houses. They do more than just show properties or negotiate offers to help close a sale. Below are some things that these realtors do to make your house more sellable.

Help Improve Your Home’s Stature 


Competent realtors do not just list your house, match it with a potential home buyer and be done with it. Often, these people ensure that your home is ready for that open house event or for buyer viewing by making use of their connections in the field of home improvements. They can assist you in improving the curb appeal of your home by contacting their contacts in plumbing, roofing, fencing, painting, landscaping and so on. Keep in mind that buyers are mostly concerned of a home’s interior and exterior appearance. A fresh coat of paint, a clean roof and exterior walls, updated plumbing system, and so on will help augment the appeal and face value of your home. With their connections, they can help find you general contractors which can perform all the needed improvements at a much affordable rate to suit your budget.


Experts in Pricing Your Home Right


An important aspect in selling a home is in pricing it right. Realtors are experts in estimating the value of a certain property with their experience and skill-set. They are proficient and up-to-date with important considerations like target market, location, demand and supply, and the type of house. They are trained and experienced in property evaluation to demand appropriate pricing to ensure that your home gets every bit that it deserves.
 
They Help Sweeten the Deal


Another way to make home-selling more attractive to buyers is by offering perks. Credible realtors know precisely how to play around the selling price or add-in any other special deals that will help make the buyer realize the added advantage on this particular investment. Some realtors are also connected with service contractors and home insurance agents. They can use those connections to offer an extra mile in their services as leverage in letting the buyer perceive the deal as an “added value” service. Some also offer transferable home warranty (with the consent of the homeowner) for at least a year. This helps cover maintenance and warranty on appliances and other home fixtures—and this helps sweeten the whole deal. 


Help Gain Home Buyers Trust


Do take note that 90% of all real estate transactions occur with the assistance of realtors. This could be due to the reason that these professionals have an ethical obligation to disclose hidden or latent shortcomings or defects in a home. Buyers want an honest-to-goodness deal and you as a seller might be perceived being biased when asked for details on your home.


The Bottom Line


Selling a home can take extra work and knowledge. You may put all your efforts in getting your home in excellent shape but when you have no knowledge on marketing it or knowledge on the present condition of the real estate market, you will most likely find yourself empty-handed. With competent realtors, you can effectively increase the odds of getting your home sold on the market.

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Rock Realty Client Testimonials

"I found Rock Realty on the internet while looking for someone to help us sell our house .. I called and talked to Mike, we set up an appt and he got the ball rolling... and wow did he get the ball rolling..he stepped up in every aspect.. the house was all over the net and we had people looking at the house right away .. he was right there every time we had questions and made us feel as if we were his only client.. he worked thru any difficulties we had without any negativities...our house sold Very quickly and Mike really stepped up through the whole process... Our thanks to Mike and Rock Realty"

Scott H. (Janesville, WI)
Rock Realty Seller Client

Rock Realty Client Testimonials

Thanks for the compliments, and Congratulations on your closing Scott!

Looking to sell your home at a great price!? Check out what Rock Realty can do for you!

Rock Realty Online Marketing Plan

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We would like to introduce you to our home buyer specialist, Bethany Alexander, Realtor® serving the Oregon, Wisconsin area!

Dane County WI Real Estate
"I am excited to be a part of the Rock Realty team to help expand their services throughout Dane County. I am originally from Corpus Christi, Texas, but have lived in Oregon Wisconsin for the past 20+ years. As a long-time resident of Oregon and an Oregon High School graduate I have an in depth understanding of the area which will assist me in helping you to select a home location that best suites your family’s needs."
"As a Rock Realty real estate agent, I use the latest tools available to help advertise, broadening the range of qualified buyers for your property. It is my top priority to educate and help guide you through the exciting and sometimes stressful process of buying or selling a home. I truly care about my clients and their needs and will work hard for you to ensure that your experience with buying or selling a home is as simple and stress free as possible. If you are looking for a Realtor® to put your individual needs first, look no further, call me today to discuss what I can do to help you with your real estate needs."
If you are looking to buy or sell anywhere in Dane County, I'd love to help!
Bethany Alexander
Real Estate Agent/Realtor®
608-212-4101 (cell)
Bethany@RockRealtyWI.com
Search the MLS via my site:
www.SweetHomeWI.com

 

 
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1Side-e1357247834912.jpg?width=300We are happy to announce the closing on another one of our short sale listings, this time in Oxford, WI! This was an Associated Bank negotiated short sale. Short sale transactions can be complex, but if you have an experienced Short Sale Realtor® the process is much more manageable.

This was a fantastic log home with acreage, at a great price! The new owners are sure going to enjoy all 38+ Acres! If you are thinking of selling or buying a short sale home in Wisconsin, our short sale specialists would be happy to assist you. Give Rock Realty a call at 608-921-8536. (We are a full service real estate brokerage.)

Is a Short Sale right for my situation??

If you are considering the possibility of a short sale for your home and have further questions, feel free to visit the page below:

Is a Short Sale right for My Home?
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LinkedIn and Social Media are Great for Business

Social media has been all the rage for the last several years, especially for anyone in business. From MySpace to FaceBook and Google+ being the big players in that technology, with dozens or hundreds (maybe thousands) of other smaller sites in play, too. There is one that was here before all the others that is often the most forgotten….LinkedIn.

I want to share some of my thoughts about this particular social media platform that was first and foremost a business-to-business relationship builder. I first joined LinkedIn in 2004 after reading about it in an online article that told me that I had to join this service. This article was about this new technology coming out called “social media” and how it was going to change the face of business. Little did I know at that time, that years later almost 80% of my information and news would come from these social media sources.

Back then, LinkedIn was only about connecting with people you already knew or had already done business with. It was basically an online résumé. You were limited in how many people you could “connect” with....

For "The rest of the Story", please visit:

http://www.realestateauctions.com/blog/auctions/linkedin-and-social-media-are-great-for-business/

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Palo Alto Ca Short Sale/Bank Owned Round Up

In Palo Alto from Jan 1, 2012 until June 30, 2012 there were:

1 closed short sales

3 closed bank owned homes

Total sales during this time period were 284

Total % Short Sales: .3%

Total % REO Sales: .9%

Total Percentage  Palo Alto Distressed Properties: 1.2%

1.2% of all Palo Alto sales being distressed properties is not enough to even comment on. The price of homes have in Palo Alto is now up to pre 2008 prices in the $2,500,000 price range and the homes over $2,500,000 usually do not have loans that are a very high percentage of their value so anyone who is having financial problems can generally sell and be made whole. So if you are looking for a bargain, look outside of Palo Alto.

If you have any questions about short sales or foreclosures in Santa Clara County please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

650-619-9285

DRE  01191194

Marcy Moyer Keller Williams Realty Palo Alto, Ca. Specialist in Short Sales and Trust and Probate Sales

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In Santa Clara from Jan 1, 2012 until June 30, 2012 there were:

97 closed short sales

47 closed bank owned homes

Total sales during this time period were 491

Total % Short Sales: 19.8%

Total % REO Sales: 9.6%

Total Percentage  Santa Clara Distressed Properties: 29.4%

29.4% of all Santa Clara sales being distressed is enough to have an effect on the overall market. However, as inventory is still so low, unless these homes are truly physically distressed, which is more common with bank owned homes at this level, most homes will not sell for much less than fair market value. There are twice as many short sales as foreclosures in this time period which is what we are seeing in many other cities. 

If you have any questions about short sales or foreclosures in Santa Clara County please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

650-619-9285

DRE  01191194

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New Jersey Short Sale Agent

Call Carl SanFiliipo toll FREE (888) 445-8880 for a FREE phone consultation!!!

 

 

New Jersey Short Sale Specialist

New Jersey has been facing one of the most challenging economies in its history. The housing market has been decreasing at such a rapid pace that one out of three homeowners owe more on their mortgage then their home is worth. Some parts of the country one out of every five homeowners are behind on their mortgage payments. You might be in a similar position that you need to sell but owe more on your home then its worth. You might have a ARM mortgage which is due to change and change your payment making it unaffordable. You do have options to avoid foreclosure in New Jersey.

I have been in real estate with Century21 Worden and Green since 2006. As i came into the business the market started to change. Home values started to decrease slowly while by 2008 prices began rapidly dropping. I have been dealing with foreclosure homes since 2006 and have closed hundreds of foreclosure properties and have educated homeowners regarding their options. As a New Jersey Short Sale Specialist I strive to help as many homeowners who need my service as possible.

Why Should I Short Sale My Home in New Jersey?

Doing a short sale in New Jersey could save your credit long term. A short sale is better for your credit then a foreclosure and has numerous other benefits. See the comparison of a SHORT SALE VS FORECLOSURE. and check out the Wall Street Journalarticle explaining why a short sale in New Jersey can be the right answer for you.

Why do I need a New Jersey Realtor to Short Sale My Home?

Most lenders will not consider a short sale in New Jersey unless your home has been on the MLS and is being marketed through a Realtor. A New Jersey short sale specialist can also help navigate the short sale process, letting you know what forms the lender will require for the sale. If you are eligible for the HAFA program in New Jersey, CLICK HEREto see if you might be eligible, you will be required to work with a Realtor.

How much does it cost to Short Sale my Home in New Jersey?

Absolutely NOTHING! My services are 100% completely FREE!!! I can refer you attorneys who will also provide service to you for FREE!!! Sound to good to be true? The lender will pay all commissions as well as legal fee. Contact mefor more details and for a FREE phone consultation.

The New Jersey Short Sale Process!

Step 1: Call me toll free (888) 445-8880 we will discuss your current situation and all your options. If it appears you have all the qualifications needed for a short sale in New Jersey there will be forms you need to fill out and documents you must provide before we begin marketing your home.

Step 2: Marketing, I will come to your home take pictures and begin aggressively marketing your home in order to get offers.

Step 3: Get an offer to be submitted to the lender. This part can be the most lengthy part of the transactionwaiting for an answer from the lender. However, recently this process has sped up.

Step 4: Approval and closing! We obtain approval from the lender and have all the legal fees and commissions paid by the lender. We also fight hard with the lender to to ensure you are forgiven of all past debt, and you have avoided foreclosure in NJ and can move on with the rest of your life.

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