MyREALTY.com Real Estate Blog

REALTY REPORT: Episode 2, Want to Sell? Here are Little Things for Big Change

2008-01-28T14:30:00.000-08:00

Your Reality

Right now there are a lot of homes on the market. Many of them aren’t selling because foreclosures and new homes can price them out of the market. If you’re sure your home should be selling and isn’t, first take a look at the price. There are also some other factors you may have overlooked, like all that stuff right under your nose.

MyREALTY™

Less is more. Simply work to get rid of clutter and reduce furniture, but don’t jam it all in a closet. A buyer is going to open it up to see if they’ll have room to store their things. That means the garage is out, too. Look at it this way; you’re going to have to pack it all up anyway, so you might as well get it done now. The purpose is not only to make a house look large, but also to show a clean canvass for the next owners. This means you need to remove many of your family pictures and personal belongings. Not only do extra decorations detract from the features of your home, but also your own taste in style may send an interested buyer moving on to the next house. Repaint and get new carpet with neutral colors, and your home for sale is more likely to be a home sold.

Hear the radio version!

REALTY REPORT: Episode 1, Make a Down Payment and Still be able to Eat

2008-01-28T14:03:00.000-08:00

Your Reality

It’s long been assumed that you must go cash broke to buy real estate. Putting 20 or 30 percent down on an investment property will do that to any average income.

MyREALTY™

While making a down payment of at least ten percent is highly recommended, you don’t have to deplete your cash reserves to do so. Most people shopping for property have a retirement plan. Did you know that you can rollover your existing IRAs or 401k to a self-directed IRA and use it to buy real estate? You can and without expensive tax penalties. Look up “self-directed IRA” online. You’ll be able to hang onto your cash and, with the volatility of the stock market, very well could be making a wise investment for your future.

Here the radio version.

Moot Finds It's Moment in Loan Bailout

2007-12-12T10:17:00.000-08:00

Moot. It's not a word used all that much, but it now gets its day in the sun. "Moot," is the most succinct way to describe the recent plan proposed by President Bush to bailout homeowners trapped in subprime mortgages. Actually, it's the mootest, or most moot, plan of inaction ever. That's not to say action is needed, but this act is simply the administration acting like their acting. It's the antimatter of the matter.

People who choose this voluntary program will be locked into a five-year interest rate freeze. Problem is, they're still in a subprime loan that will one day adjust. That's pretty moot.

But perhaps the details of the program will give us the insight we need to move forward and gain from this program. From what I've read, a decent estimate of potential participants is at about ten percent. That's a couple hundred thousand subprime homeowners who will qualify for the program.

Here's what you must present to your lender to qualify for the rate freeze:

Your subprime ARM must have been closed upon between Jan. 1, 2005, and July 31, 2007.
Your first interest-rate adjustment needs to happen between Jan. 1, 2008, and July 31, 2010.
10 percent is the minimum payment increase.
Your mortgage must have been sold into a securitized pool of loans.
You must be residing in the home.
Your credit score must be less than 660.
And here's something confusing; your cc must be less than 10 percent higher than it was when you took out the loan.
Finally, your loan-to-value must be three percent or less of the value of the home. So you could have put little money down or have had your property value plummet to that point.

So who's going to read that if they didn't bother to read the terms when they first got the loan?

Moot again.

Even the noninterventionists have had their point mooted. They don't want government to interfere with the market. But by not doing anything in the first place, the well-lobbied DC suits were doing more than if they had actually done anything.

Some people might say, "well at least people are talking about it." We also talk a lot about Britney Spears, and that hasn't helped her any.

If you'd like to try and actually do something, you can call the government hotline to see if you're eligible for aid. The number is 888-995-HOPE. You'll get the same hotline if you call 888-995-HOSED.

Moot.

High Listing Inventory, Not enough Buyers?

2007-11-24T14:14:00.000-08:00

- Turn it into a Marketing Advantage for your Real Estate Business

(ed: note that this pertains to those markets where the sales cycle has slowed and the inventory is 'up')

Perhaps the most common commentary on the market that I am getting these days, whether online (websites, blogs, emails), print (newspapers, editorials, magazines, interviews), or in person (consultations, coaching sessions, training classes, or just business lunch); is that Inventory is UP and Buyers are DOWN.

There is a lack of 'urgency' in the market
Buyers cannot get qualified to purchase 'like they used to be able to'
Pricing has been damaged by the increase in foreclosures
The holidays have taken real estate out of the focus in my market

Here's the point: This business of Real Estate is one of cycling markets. Up, down, and everywhere in between. National trends, regional and local 'micro' markets, and neighborhood whims will absolutely affect our ability to succeed as real estate agents and brokers on a daily basis.

So rather than simply commenting on how our current marketing approach is being proven ineffective on the street, successful and professional agents are adept at taking full advantage of *whatever* situation presents itself and 'riding' the market cycles, to their business advantage.

Sounds easy enough, right?

Ok, - so the question becomes: "What does this mean exactly and how does it pertain to my business today?"

If inventory is HIGH, then let's look at some key points pertinent to that situation:

More agents have property listings, and more of them, than the market will absorb (given the state / ability / number of buyers)
The typical agent/broker has more properties to MARKET than they do to SELL
Marketing expense(s) can rise higher with no valid guarantee of return (marketing length/sales cycle is increasing)
Sellers are looking to agents/brokers to more aggressively market their homes in the belief that if they 'do more' they'll reach the buyers that are able/willing to move forward

The key point here is that WE HAVE INVENTORY. In fact, just about any agent today can 'take a listing' - even if they haven't had success with sellers in previous market conditions.

By using this current market to your advantage, you can leverage that inventory as essentially 'free' marketing to assist you in Growing your Business, Building your Brand (personal or Brokerage), and Attracting more Customers (buyers, sellers, and investors).

The key to marketing is messaging - and that messaging is either something you create yourself, or something that your product/service (that which you market) creates in the 'mind' or view of your customer. In your case, that is Real Estate / Real Property.

When you have an inventory of property listings, think about this: what is the messaging that is created? The consumer is not inept - they understand that the market has slowed - it's broadcast to them repeatedly by the national and local media (foreclosure fallout, etc.). The fact that you have 'x' number of properties in your local market, neighborhood, price range, etc. says what to the consumer? It says you're the EXPERT. It says you are the Specialist. It says you are the Professional Agent (Broker) that knows the market (neighborhood, price range, etc.).

Remember what the TOP Agent in your local market place does: they MARKET the fact that they are 'Joe Blow, the Condo King of Kalamazoo', or 'Sally Subdivision - the #1 Agent in XYZ Heights'. As professional REALTORS, many of us get worried that high inventory=an inability to 'sell' homes. Remember - the consumer is not an agent, they are just desperately seeking gidance -- GIVE it to them!

Get it OUT of your head that having inventory means you can't sell properties, it's simply not true. Maintaining this as part of your belief system will hurt your business - your clients and potential clients will sense this and stay away from you.

Move confidently forward as the 'expert' and know that your inventory simply means you are securing market share over your competitors - After all, if there are any given number of potential buyers / investors interested in your market, then having the inventory to show them makes you the clear winner.

Now, onto the marketing side of things. While it can be true that carrying higher inventory can mean an increased marketing expense, there is a solution that the Top Marketers use every day (and I'll share it with you here). Again, remember that the consumer (read: seller this time) knows the market has slowed, so you want to take advantage of that in your messaging. Tell your sellers that buyers are more scarce and it is taking longer to sell today in their market/price range. Be specific, tell them everything, don't sugar-coat it thinking you're helping them or keeping them happy. Show them the stats, compare them to previous quarter, year, etc.
Once you've laid the 'cards on the table' you'll be well positioned to let them know that you have 'adjusted' your marketing plan accordingly. Here are some salient points to focus on that will keep marketing costs low and keep sellers' faith in you and hopes high:

We have increased on online presence to reach a larger number of potential buyers and investors (since there are less buyers able to close due to the changes in lending, etc.)
We are shifting to a tiered-approach with our print and electronic media marketing (meaning that you won't be paying for high-priced print ads to reach the 'few' buyers in the short-term, since the listing will be on the market for a longer duration).
We are leveraging the advertising to bring in multiple offers (for example, we now see agents/brokers leveraging the 'free' or less expensive online marketing until the first offer(s) come in, and then adding weekend print advertising to bring in more contracts)
We are able to attract more buyers due to our current inventory of fine homes (in ______) and will find work to find the perfect buyer for your fine home (property).

You can see the shift in the mindset here - leverage your inventory as your marketing ASSET. In fact, did you realize that by having more properties listed your Agent Name, Contact Information, Brokerage, Email Address, Phone Number and Key Messaging are exposed exponentially greater than with a single listing? Use this to your advantage! Search Engines, Property Search Sites (Like MyREALTY.com), Listing Services, etc. all spend Millions of dollars to market your properties - and YOUR CONTACT INFO - at least the good ones do. Use this to your advantage today!

Change your Mindset.

Leverage the increased Marketing you get with increased inventory.

Communicate Clearly and Truthfully with your Sellers.

Run your real estate race up over the hills and down through the valleys - and if you need any help, please remember to let me know what I can do to help YOU grow your business!!

Best to You!

-Tim!

Tim Mancuso - Director Global Sales, MyREALTY.com

Home of the GLS - the Global Listing Service (which, by the way is a great FREE way to market your properties, your contact information, your business, - and your story.)

tmancuso@MyREALTY.com

Register now (free): http://www.3freezips.com/

What's With the Mugshots?

2007-11-21T12:42:00.000-08:00

Why is it that real estate agents have a closeup shot of their face with all of their ads. You'd think they'd want to save that space on the bus bench for a picture of their sweetest listing, but it's always a bright, shiny smile under an umbrella of big hair. (Are there any bald agents? If so, are they barred from having their picture in public?)

If anything, society owes agents and brokers the world over a big, fat "thank you." It's not often in your day that you see someone as happy and enthusiastic as a Realtor on a billboard. It is uplifting.

But if someone could let me know why someone selling condos is compelled to advertise their dimples over a shaded courtyard with a pool, then please let me know.

In the meantime, check out www.3freezips.com. It's a little Holiday gift from MyREALTY.com to you, the real estate agent. You get to:

Advertise in your market for free
Get leads to 3 zip codes
Post ALL your property listings free
Make the process of finding an agent easier for the consumer, because they're coming to MyREALTY.com looking for the best representation. And that's you. So everybody benefits. It's a Christmas miracle!

Finally, you can get some exposure without all the makeup, hairspray, crash diets and bored passersby judging your choice of tie.

By the Numbers: Ameriquest

2007-11-21T08:04:00.000-08:00

$2,000,000,000,000

Recent estimated loss to America's overall home values.

30

Number of states with regulators investigating fraudulent loan schemes at Ameriquest Mortgage Company, the nation's largest privately held mortgage company.

62,000

Number of claimants in class-action lawsuit in California alone, many losing homes or declaring bankruptcy.

$325,000,000

Money Ameriquest CEO Roland Arnell has set aside to settle his company's predatory lending practices.

$76,192

Amount of money in 2004 that Arnell donated to political candidates.

1

Ambassadorships bestowed upon Arnell. President Bush recently appointed Arnell as America's diplomatic representative to the Netherlands.

Better put a finger in that home loan levee...

No indictments, no lawsuits, no allegations of illegal misconduct, and not one symbolic appointment abroad, so MyREALTY Mortgage has plenty of Heroic Customer Service ready to help you.

Learn how to buy a house the safe and fun way with the game sensation that's sweeping the nation, Foreclosure Fallout!

How to Really Mess up a Home Inspection

2007-11-19T16:06:00.000-08:00

My friends just found what they believe is the FSBO deal of the century. It's a big home, probably six bedrooms and four bathrooms. It's in a pleasant, well-groomed neighborhood with homes ranging from 500-600 grand. The houses could best be described as McMansions. You might have heard of these massive shelters that fall somewhere between practical and ostentatious, well-built and shoddy. Their big selling points are, typically, granite counter tops.

The one they want to buy is selling for about $150,000 less than the areas comparable sales. It seems like one heck of a deal, or so we all thought, until their buyer's agent told them that they didn't need to be present at the inspection. She said it in such a way as to convey convenience. In a "Oh, don't worry, you go get some expensive coffee and we'll take care of it" kind of way.

I didn't know about this until they showed up at our house with Starbucks. I asked them what they were up to and they said they were waiting for their home inspection to finish. I told them I hoped the technical, structural and overall integral overview of the BIGGEST INVESTMENT THEY'VE EVER MADE included a twenty-minute recess, because they needed to be with the inspector at the inspection of the Jenga stack of sticks and bricks they were about to pour $420,000 dollars into.

Nope. They were following their agent's advice. I told them if they really wanted to part with their hard-earned money on a potentially very bad investment they could just buy me at 52-inch flat screen and a lifetime supply of Pabst Blue Ribbon. BECAUSE HERE'S THE DEAL FOLKS...never, I MEAN NEVER EVER, ditch the inspection. Yah, sure you can, if you want, and if you're a money masochist. Then sure.

When you are at the inspection of the home--you know, the roof you hope will provide shelter from the elements and such--you get to ask questions about it's durability and even learn important things like if it will electrocute you when you pee barefoot. Another reason to attend the inspection is to find angles for negotiation. The furnace needs updated? The windows are old? Well now you can go back to the seller and get an even better deal. Or you can make the sale contingent on the replacement of these items. Yet another option is having the home's purveyor throw in a home warranty that covers all the appliances. These benefits can all come out of an inspection.

Yes, it's true, you will get an inspection report that explains the same things, but when you're with a certified National Association of Home Inspectors inspector, you can ask this valuable source of information questions face to face. And once you've closed and in the home you'll be standing over an overflowing toilet wishing you had.

So no matter what you're buying, an old Victorian or a brand new build, find an experienced NAHI inspector and spend as much time as possible with him or her.

And have you're real estate agent bring the coffee.

Steep Competition? Slow Market? Bring it on.

2007-11-15T08:44:00.000-08:00

Today's real estate agents and brokers have a higher calling.

How many times have you straightened your tie or put on that little, black dress when you'd rather throw on some sweats and veg in front of the tube? But you did it. You took a deep breath and left another lazy evening in the almighty name of Networking. Everywhere you go, anything you do, you comfort yourself by saying, "It's great networking." You could end up in prison and still make good use of the time.

But you know what? You're lucky. Really. You've killed entire Saturdays shopping for little cocktail wieners and frosting cupcakes just so you can eat most of them by yourself at a slow open house. Thank goodness for veggie trays or you'd be on your way to an early grave. Yet there's a side to networking that has everybody else in every other field wishing they were you. Everyone yearns to get out of the house, or flee the office, and actually be part of the community . But they're too busy at work. You do it everyday, and it's part of your job.

Now I'm going to use a phrase that will make you a bit nauseous. You'll hear it a lot in this fevered political season. Here we go..."Now more than ever." yep. Now more than ever you need to market yourself, and even more importantly, now more than ever our communities need people to get involved. The shift manager at the local superstore might help with the little league, but it's not part of her job. As a Realtor or unaffiliated real estate agent you are at kid carnivals and fund raisers. You weed the community garden and wax nostalgic at county fairs.

You don't have to do it all. Find a couple good causes to fit into your routine. Walk a 5k for cancer or just to pick up litter. You'll stay in shape, you'll clear your head and...you'll be networking. But you already know that.

You might think it grossly cynical to look at volunteering as just an opportunity to increase your bottom line, but we're way past that. People donate so they can get a write-off. If you call right now PBS will send Suze Orman to balance your checkbook. And everyone knows that once you're out there, whether wiping the neighbor kid's nose at a soccer game or getting hit on by a someone older than your grandfather at an Elk's Club cake walk, you're there because you love the people. You thrive on the social experience. If you didn't then you would have never bothered getting in this hectic business.

So look yourself in the mirror, toss the lint brush on the bed and get out there. You may be out for a night of networking, but you're doing a world of good.

By the Numbers: CEOs

2007-11-12T08:18:00.000-08:00

$2,240,000,000

Amount of money the world's largest brokerage, Merrill Lynch, lost in three months under CEO Stan O' Neal.

$161,000,000

Amount of O' Neal's "exit package" after he was forced to resign.

Number of years Merrill will pay for office space and a secretary for the departing executive.

Anyone looking for a admin gig?

Don't Freak Out

2007-11-12T07:50:00.000-08:00

In his column on Realty Times, radio host, writer and, according to his bio, overall real estate superstar (he's raked in all kinds of awards), Peter L. Mosca reminds us that "Real estate is the single best investment one can make."

It's an important point he makes, heck it's nearly a cliche, but Mosca puts the recent housing market panic into perspective. What we've experienced is a "correction". As eerily Orwellian as that sounds, it's true. The housing market rocketed way too high way too fast and way too many people speculated on value with less credit than Monopoly money. Those people, those gambles and those values are being "corrected." If there's anyone who should panic it's the person who tried to parlay their overvalued bungalow into thousands of equity dollars. There's a good chance a falling market will bite them in the tookus. Others who should panic include, investors who poured their money into mutual funds fueled by the rickety subprime mortgage market, and lenders who still owe radio stations for all those ads screaming at you about owning a home for a nickel.

Here's who shouldn't panic: home buyers. Now is your time to shine. Tosca points out that, "Among the 20 markets surveyed by S&P/Case-Shiller, which represent more than 40 percent of the U.S. population, four posted home price appreciation rates of more than 80 percent over the past five years while 11 registered gains of more than 45 percent." Most markets are still going up, maybe not as frighteningly fast as before, but even those markets portrayed as losers are still rising, just slower. And that's a good thing. If you want to make a quick buck, then try the lottery. But for certain, sustained growth in an investment you can live with and in (can't move into a mutual fund), then now is the time to buy a home.

Not sure if you're ready to buy? Get our FREE Buyers Guide!

Internet Leads - Mixing the Perfect Drink

2007-10-17T17:02:00.000-07:00

There is much ado these days about Internet Leads - purchase vs. self-generate vs. PPC, and which are 'good' leads (the Glengarry leads.. ) and which are 'bad' leads..

There is a simple recipe for Internet Lead success - and like a good drink, (I'm thinking lemonade here people) you add more of what you 'like' to get the result you want. Every agent / broker handles this mix differently, just be SURE you don't leave out any of the ingredients:

Ingredients:

1) Great and relevant content: ***(Traffic and Lead Source)***
In Real Estate this means Property Listings, Lots of details and info, and other consumer info (maps, local / neighborhood, loan calc., etc.)

2) Proper 'linking' and 'showing up' on the right sites: ***(Driving the Leads/Traffic from other sources back to you + adding relevance/frequency in search results)***
This can include PPC / Search / SEM. Remember, search is essentially *you* showing up on a *site* too - so being sure that you are 'found' is what this is all about (it's why agents post their property listings to 3rd party property marketing sites like MyREALTY.com - http://www.myrealty.com/ - Craigslist.org, GoogleBase, and others)

3) Capture and Incubation Tools ***(Catch and Keep the Traffic/Leads - or they'll simply 'surf' away)***
A successful site has lead capture and follow-up tools combined with great and relevant (read: real estate) content. This guarantees that you are meeting the criteria of #1 above, and then KEEPS the client with you (capture, incubate, close, follow up) - adding them to your book of business.

Most agents today have a solution from their MLS or their Brokerage that contains enough of these 'tools' to get the job done (#3 above) - if not, there are a myriad of companies and websites out there, inexpensive and functional ones, too. Find an IDX solution that has what you need, is solid in your local MLS market, and is simple to setup and manage.

Remember, any 2 of the above will not work - it takes all 3.

You can purchase Leads as a shortcut to #1 and perhaps handle #2 with it as well - BUT - and this is important - you *must* have #3 in place if you expect to convert ANY of the Leads you purchase into business / transactions.

We've seen some very successful agents / brokers who buy their way through #1 & #2 above - and it works only because they have rock-solid systems to 'land' those leads into - to Capture, Incubate, Convert, and Close ( + follow-up!).

The key issue is that we all like to take the 'shortcut' - and in doing so toss a listing up online or simply link to a property search - and then we grumble about how we 'never get any internet leads/business'.

It's out there, and it's getting simpler every week to achieve success - so go ahead - mix up your own version of the 'Perfect Internet Lead Strategy' - find out what fits your taste and needs, and enjoy a sip of success today.

Cheers!

Tim and the MyREALTY.com Team.

Top 9 Reasons Why Homeowners Tank

2007-10-04T12:08:00.000-07:00

Divorce, death, job loss and medical expenses are commonly cited as reasons for losing a home. But many of today's record number of foreclosures happen to happy, healthy, gainfully employed (and living) people blindsided by the changing housing market.

You can avoid foreclosure by steering clear of our Top 9 Reasons why happy, healthy, gainfully employed (and living) homeowners foreclose...

The Top 9 Reasons Homeowners Foreclose

1. They buy more home than they can afford. When the loan officer says, "You're approved for half a million dollars!" They say, "Great, we'll take it," without finding what they can actually afford. See what kind of mortgage your budget allows.

2. They liquidate all of their equity. Those home equity loan ads which sport boats, cars and all kinds of bling sure are tempting, but if you pull all the cash out of your house, and home prices drop, then you could end up owing more than your house is worth. Find the value of your home with a MyREALTY.com property report!

3. They get a bad Loan-to-Value ratio. The ideal parameters for a home mortgage are as follows: 80% bank loan to 20% money down (minimum). That's an 80/20 LTV. Some people get into a 90/10 or 95/5 ratio, or worse yet, 100/0. That means the home is 100% bank-owned and the homeowner has absolutely no wiggle-room. Pay as much money toward your down payment as possible. If you don't, you're susceptible to factors beyond your control; like your neighbor's foreclosure bringing down your property value. This could mean you owe more than the home is worth. Learn more with this FREE MyREALTY.com Buyers Guide.

4. They don't read the fine print. Those 3% interest rates sure sound nice, but check and see what happens in six months or a year. All kinds of people are discovering the dark side of an Adjustable Rate Mortgage (ARM). Learn the pitfalls and plusses of different loans with MyREALTY Mortgage.

5. They buy on the hype. Just because everyone says you should own a home doesn't mean you should stop renting. That tax write-off is often offset by maintenance expenses. See the advantages and disadvantages of owning a home in the FREE MyREALTY.com Buyers Guide.

6. They buy a good home in a bad neighborhood. Sure, you got a great deal, but that car parked on your neighbor's lawn is hurting everybody's value. The old adage is that you can buy a bad house in a good neighborhood, but never the other way around. Search the Global Listing Service (GLS) for the right home in the right neighborhood.

7. They don't shop around for right agent/lender. It's nice that your friend's nephew is a part time real estate agent and will take time from snowboarding to help, but does he know the market? In real estate knowledge is power! Find an experienced real estate agent or broker with MyREALTY.com.

8. They get giddy. Buying a home is exciting, but put on your poker face and do your due diligence before locking into the first place you see. This means getting the homeowner to repair everything that needs fixing, and avoiding any property that requires too much work. Yes, it's exciting that it's in a historic part of town. The termites like it, too. Also, remember, if it's a buyers market then there's no better time to ask for a home warranty to cover the furnace and other appliances. Know what to look for in a home with the FREE Buyers Checklist.

9. They don't educate themselves. Remember, Knowledge is power! Find out everything you need to know about Buying Real Estate with the Free Buyers Guide available at MyREALTY.com.

Buying and owning a home isn’t all that difficult, but the wrong loan and/or the wrong property can quickly become a fatal financial disaster. MyREALTY.com provides the tools and resources to help you purchase your home. If you’re trying to sell in this slow housing market, MyREALTY.com offers you more FREE exposure and the tools to get your property sold for the money you want – and need.

MyREALTY.com – it’s Everything Real Estate, Simple.

Todd's Top 9 Ways to Sell

2007-09-19T13:07:00.000-07:00

Have you tried to sell a home lately? Then you know what you're up against; a leaky housing bubble, a record amount of foreclosures and major home builders that can knock tens of thousands of dollars off their asking price. If you're thinking about selling, or you're one of those folks who've had their property on the market since the Backstreet Boys were hot, then perhaps our founder and CEO can help. He's sold over fifty properties...and for a profit!

Top 9 Ways to Expedite the Sale of Your Home - by Todd Murphy

1. Repaint all necessary areas (inside and out), deep-clean or replace carpets and flooring, and groom your landscaping – fertilizing and adding extra water to all flora.
2. Hire the best listing agent in your neighborhood, and don’t price your home too high. You might consider ordering a full property report and valuation (AVM) online - a nice touch to have available for buyers.
3. Buy a home inspection in advance so you can repair all material defects and share a copy with prospective buyers, and have your agent use the inspection in all marketing materials.
4. Stage your home (put the clutter in a storage facility) using a professional, if necessary.
5. Order a professional virtual tour. Buyers are viewing these more and more online – and making offers, site unseen. This is a fabulous marketing investment.
6. Purchase a home warranty to guarantee appliances won’t fail, and use this in your marketing as well.
7. Ensure all odors are gone by baking cookies or sauteing onions in butter prior to every showings and open houses. Place your fresh cookies on a plate with a welcome note.
8. Create content for a nice brochure with a simple list of your home’s great benefits and keep a ready supply available in the front yard. Don’t rely on a buyer’s agent to show and/or know anything about your home – take matters into your own hands. Your agent will not be present at most showings, but ask her/him to be present whenever possible.
9. Expose your asset wherever possible. Ask your agent to post your home for free at MyREALTY.com, home of the Global Listing Service (GLS).

The bottom line is that buyers want a turn-key home, one that their family can move into with no cleaning, repairs, or concerns.These tips are a compilation of top suggestions from the broad array of agents and brokers, who use MyREALTY.com for increased marketing exposure.
For more tips on buying, selling and real estate investing, visit MyREALTY.com..

Or there are always these ideas...

Where are all the 'Good' Agents and Brokers?

2007-08-27T11:22:00.000-07:00

If there is one constant request we get, it is this: 'Where do I find a 'good' Agent / Broker?'

Here is the good and the bad news.

First, the bad news:
There really isn't one place to find a 'good' Agent or Broker - there are many many resources out there, all of which can be very helpful in your search. Many of the directories you'll find are 'open' directories, which simply means that anyone can list themselves in them. At first glance, an open directory concept can seem not-so-good, after all, if anyone can list in the directory, won't the service levels be low - or worse yet, a 'crap-shoot' every time you search?

Actually, the opposite is the case. An open directory attracts the professionals. Let's face it, you don't want to work with any non-professional service providers. That's great - because the slackers out there won't usually take the time to put themselves out in front of active consumers anyway - and that's a good thing for you!

Now - the Great news:
We feature a similar 'open directory' approach here at MyREALTY.com - here's why: Buyers and Sellers are using Search Engines (such as Google, Yahoo, etc.) as directories. The trouble is, Search Engines are NOT directories! We'll get into this further in subsequent issues, but just because you can find something there doesn't make it a directory.

Our 'Find an Agent/Broker' list features TOP Agents and Brokers from local markets all over North America - and we are adding hundreds more every day.

These are professional and competent Agents and Brokers that WANT your business, and are willing to earn it with service and value.

Best of all - it's absolutely FREE for them to be added to the list - so you know you aren't just seeing the Agents / Brokers with the 'biggest budget', but rather those dedicated to pursuing your business and trust - and willing to market to find you.

Enjoy your search, and we hope you find your perfect match!

-Todd and the staff at MyREALTY.com

Mortgage Woes - More on the Way?

2007-08-17T12:41:00.000-07:00

With all of the recent press and attention to banking and lending, now comes news from First Magnus (http://www.firstmagnus.com) on effectively 'shutting their doors' to funding loans.

Just how manyAmericans were literally stuck at the closing table yesterday with mortgages that would not fund? We'd like to find that number. Great Southwest Mortgage, a net branch for First Magnus took a significant hit in the marketplace with this news. In fact, many companies are scrambling to find underwriting / funding for their in-process loans that have been simply 'pushed aside' with recent changes.

We are told this came without warning, but others say that the cards were on the table for this , and still may be on the table for others in the coming days and weeks.

'Will Countrywide Home Loans file for Bankruptcy?' would seem to be the headline of the day, judging by the conversations around water coolers and lunch tables across America today.

It's very interesting (no pun intended), to both those inside and outside of the industry. One important point: the real suffering here is not the stock prices, not the investors, not the corporate heavyweights -- no, it's the consumer.

It's YOU, and ME.

When the dust settles, you can be sure that Joe and Mary Homebuyer, along with their neighbors John and Julie Homeowner, will pay the price for all of this - and dearly. Longer sales cycles, unstable rates, escalating inventory... all affecting the valuation of your property(s).

Blog on - after all it's YOUR Realty here at 'My Realty'... and YOUR Realty is what matters most.

-Todd and the staff at MyREALTY.com

Commission, Consultant, Flat Fee... - What's your model?

2007-08-02T21:29:00.000-07:00

There has been a lot of press lately given to the varying pricing and fee models in the Real Estate industry.

The actual issue would seem to be more about not 'which' model is correct, or even best - but rather is there room in the industry (read: industry minds, consumer tolerance) for more than one model to be successful on a broad scale.

Points to consider:

The landscape of information availability (listings, parcel info, historical data, appraisal, etc.) is changing every day - does this negate the previous commission-based models of 5%-7% -- which was largely based upon the agent or broker's ability to provide access to that information?
Will the marketplace maintain the current models? - or will the changing economies in national, regional, and local markets be more suited (and subsequently more welcoming) to new models such as Redfin and others?
Are flat-fee and 'A la carte' brokerage models gaining any marketshare, or will they continue to attract only their current minor market segment?
What about broker consultation models - is a new 'paid for service' model emerging that could replace existing commission(s) and offer a viable alternative to both client (buyer/seller) and Agent/Broker?

The answers at this point are more opinion than fact - don't get me wrong, there are facts galore to quote; but it will take time to sort out the truth. In the end, there will always be room for the innovators.

Every change in technology, the economy - even in legislation - will bring about bold new approaches to managing the Real Estate Transaction, which is to the majority of us the largest financial and emotional investment we will make in our lifetimes.

Sound off on the items above - let us know what you are thinking.

Share your opinions with a truly global audience of your peers, and Thank You in advance for your insights, thoughts, and valuable assessments!

-Todd and the MyREALTY.com Team

Top 10 Foreclosure Cities?! Sound Off People!!

2007-07-18T15:03:00.000-07:00

What are foreclosures doing in your local market?
We ask you to write in and let us know - is it Hype or Reality?

Okay, so I'm checking out the list of top 10 foreclosure markets (here in the U.S.A, for all you Canadian viewers out there - sorry!) - and we've all heard the bad news.

Times are TOUGH out there folks...according to Business 2.0 magazine, it's like this for the Top 10 foreclosure cities:(2006 data)

1) Greeley, CO
2) Detroit, MI
3) Miami, FL
4) Indianapolis, IN
5) Fort Lauderdale, FL
6) Denver, CO
7) Dayton, OH
8) Dallas, TX (question - is it *really* Dallas?? Or more like Plano...?!)
9) Ft. Worth, TX (same comment as above)
10) Atlanta, GA

So, what we're wondering is this: We get all of this data from the 'experts' - what about the people? We want to hear from the Buyers, the Sellers, the Investors in the Local Markets - is it REALLY that bad? - and what's the impact been on your home town? -Are local businesses feeling the 'crunch'? - Are rents rising as homeowners fill up available units? - Has a dark cloud of depression been hanging over your neighborhood??

The part that is often 'missed' in the reports and statistics is the impact on families, businesses, etc. We'd like to hear from the local experts exactly what is happening in these and other markets as 'creative lending practices' and 'aggressive ARMs' topped with a changing economy and marketplace have created this massive shift in home ownership.

Come on folks, let's hear from you all. Agents, Brokers, Lenders - chime right on in, too. We know that you understand the market best of all.

If you haven't 'blogged' before - give it a shake - we think you'll LOVE it.

It's easy, and you are more than welcome to remain 'anonymous' too...of course, if you have some tremendous wisdom to share here, feel free to shamelessly pimp yourself to the Gazillion or so folks that visit MyREALTY.com to Buy, Sell, Invest, and Educate themselves every single day.

Thanks in advance folks - it's wonderful to hear from you - now... what say ye?!

FSBOs Rise Up (in Madison)

2007-06-08T15:40:00.000-07:00

Inman News published findings from a report out of Madison, WI that found homeowners who sold their home without a real estate agent were getting more money for their property than those who did. Now this flies in the face of a recent National association of Realtor study. It showed a property listed by a Realtor on the Multiple Listing Service (MLS) went for as much as 16 percent more than the lonely FSBO guy pimping his own home.

What does this mean to the home seller? Nothing. FSBOs work on a case-by-case basis. You can read all the positive FSBO reports you want, but if you don't market your home as aggressively as a good real estate agent can, then you might as well pull it off the market and take a nap. The reason why a NAR member will tell you a FSBO house reels in less money--even after the commission--than a house sold by an agent, is because an agent is a ninja sales person who will track you with her Blackberry/GPS/Taser device until you're too weak to say no. Do you have that in you? If so then maybe you're ready to go FSBO. If not, don't rest your hopes soley on a positive report out of Madison. Besides, people in Wisconsin will work day and night to sell their home for Packer tickets.

However, over the past twenty years FSBO's have hung onto a healthy percentage of all properties sold (anywhere from 12-20%). You can do it! You just need to know where to get the help and extra exposure. One location a FSBO can get an agent's advantage is the Global Listing Service. Agents and brokers are loading their properties on the GLS, and now even the FSBO can partake.

We wholly encourage the idea to sell your own home, and the success of the Madison crowd should be inspiring. Just don't let it fool you. In a cool sellers market it takes a lot of work to get the money you expect out of your property.

Google Street View: Harmful or Helpful?

2007-06-04T14:22:00.000-07:00

Someone with a lot of time, gas money and snacks is cruising around America's major cities taking 360-degree pictures for Google's snazzy new Street View. Aside from the issue of privacy (The Google guy who implemented Street View first did it with A9, a company criticized after an image of women walking into a domestic abuse shelter showed up for all to see), Street View has become big time blogger fodder. Streetviewr and a number of other sites are already posting their favorite images. It doesn't take a psychic to figure out some of the winners...

But is online real estate ready to embrace this technology? The benefit of a virtual tour is that you know when someone's coming over to take pictures. The Street View guy can buzz by and snap a shot of a stray dog with a head cone snoozing in the weeds you were planning on picking real soon.

I'm imagining telling an interested buyer that, "Yes, the house is charming and the neighborhood spectacular," as the savvy real estate shopper gawks at a Google pic of the police pepper spraying a criminal on my front lawn.

Sure, they had to chase him from a bad part of town, but hey, you never know when and where the Google van will whiz by.

HOA's will love Street View because people will be even more insecure about curb appeal. My wife will rejoice that I might leave my shirt on when I mow. Sellers may want to make sure they're getting the best pictures of their home online before Google does it for them.

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2007-05-29T12:19:00.000-07:00

Click here to get your own player.

Slowdown? Not in the Luxury Market...

2007-04-20T10:36:00.000-07:00

Which property is the most expensive in the world? Aspen's Hala Ranch was just trumped by The Pinnacle at Yellowstone Club in Montana. It's $155 million price tag is twenty mil more than the Colorado estate, but it does come with a private ski lift and a wine cellar stocked with 8000 bottles of vino. See some pics of the most expensive estates on the globe at MyREALTY.com's Palatial Properties page. Hear more about the big ticket housing market in an interview with Greg Moesser on The Realty Report.

Realtor® Magazine Online reports:

"Ultimate Homes magazine posted its annual list of the priciest homes on the market in the United States. New York, California, and Florida dominate the list with more than $12 billion in luxury listings coming from these three states alone. The average price of a home on the list is $18 million.

Who are the owners of these mansions? A survey shows that 73 percent of home owners who own at least one home valued at $2.5 million or above are younger than 55 and are self-made millionaires."

Here are the top 12 properties on the list:

The Pinnacle at Yellowstone Club, Big Sky, Mont.: $155 million
Hala Ranch, Aspen, Colo.: $135 million
Trump Estate, Palm Beach, Fla.: $125 million
Tranquility, Lake Tahoe, Nev.: $100 million
The Portabello, Corona del Mar, Calif.: $75 million
Three Ponds, Bridgehampton, New York: $75 million
The Pierre Penthouse, New York City: $70 million
2845 Broadway, San Francisco: $65 million
Malibu Beach Home, Malibu, Calif.: $65 million
Sierra Star, Incline Village, Nev.: $65 million
Robert Taylor Ranch, Brentwood, Calif.: $60 million
Sassafras, Lloyd Neck, N.Y.: $60 million
— REALTOR® Magazine Online

Homebuyers Surf to New Homes

2007-02-11T08:56:00.000-08:00

If there were any organization shaken by the huge increase in home shoppers going online for a new home it would be the National Association of Realtors. Look at what Beth Potter of the Denver Post reports NAR found in their latest online real estate survey:

"With about 80 percent of all homebuyers now turning to the Internet for help while they shop, Realtors are finding their own ways to take advantage of the trend."

The real estate agent is still more important than ever as "36 percent of buyers first learned about the homes they bought from a real estate agent, compared with 24 percent from the Internet."

The latest NAR numbers just go to show how the web isn't infringing on the traditional real estate transaction, but working quite harmoniously with it. That's assuming the real estate service provider is taking advantage of the online opportunity.

One simple way to stay atop the Internet wave is with your own fully branded, interactive website. Many online real estate shops are coming up with applications that capture, maintain and even contact leads, but take a look at MyAgent Tools and see how MyREALTY.com can help you.

What We Do at MyREALTY.com

2007-02-10T10:26:00.000-08:00

Simplify the real estate transaction.
Speed past roadblocks to financing.
Secure your dreams of owning a home.

Buying a home is a lot like the first time you jumped off the diving board. Except this time your mom isn’t in the pool cheering you on, it won’t necessarily be a sunny day and instead of refreshing water you’ll be diving into tens if not hundreds of thousands of dollars of responsibility. Geronimo!!

But once you’re in it sure feels nice. So let’s make it as easy as possible. Let’s make buying a new home a better experience. It can happen. MyREALTY.com is here to help. Sign up for our RSS feed or check back daily for helpful ideas from home buying, home selling and home owning experts. Your comments are most welcome. We'd like to learn something from you, too!