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Real Estate News Articles

Updated: Friday, June 22, 2018

The Inside Workings of Credit Scores

Consumers are encouraged to check their credit reports once per year. The primary reason for doing so is to make sure there arent any mistakes. Unfortunately, credit reports are prone to contain mistakes. Its not really the fault of the three main credit repositories, Equifax, Experian and TransUnion because all three are just a database. Whatever is reported to them is what you see. Further, someone with a similar name can show up on someone elses report. If youre not the only Bob Smith in town, this is certainly possible.

Someone elses poor credit might very well be showing up on your report which can directly damage your credit scores. When you find an error work with your loan officer to get it fixed. Your loan officer has working >

But have you ever wondered how these scores are calculated in the first place? They follow an algorithm first developed by The FICO Company years ago. For a while, credit scores werent the primary force behind a credit decision but over time the impact of a credit score became more and more important. Most every loan program available today has a minimum credit score and if a score falls below the minimum, theres some additional work that needs to be done to get those scores back on track.

There are five characteristics of your credit history that make up your three-digit score:nbsp; your payment history, account balances, how long youve had credit, the types of credit used and how often youve applied for new credit over the past couple of years.

Credit scores range from 300 to 850. Lets say a borrower has a credit score of 600 but needs a 620 to qualify for a particular loan program. Credit scores will improve much more quickly by paying attention to the two categories that have the greatest immediate impact on a score- payment history and account balances.

Payment history accounts for 35 percent of the total score and account balances 30 percent. When someone makes a payment more than 30 days past the due date, scores will fall. An occasional "late pay" wont really do much damage to a score but continued payments made more than 30, 60 or 90 days past the due date definitely will. By stopping the late payments scores will begin to recover.

Account balances compares outstanding loan balances with credit lines. If a credit card has a 10,000 credit line and there is a 3,300 balance, scores will actually improve. The ideal balance-to-limit is about one-third of the credit line. As the balance grows and approaches the limit, scores will begin to fall and fall even more should the account balance exceed the limit. This category contributes 30 percent to the total score.

The remaining three have >
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How To Improve The Accessibility Of Your Outdoor Living Area

Your outdoor living area can be a source of enjoyment when youre >

Here are a few tips to make your outdoor living area easier for everyone to enjoy.

1.Install ramps.

For people with mobility problems, even one or two steps can be difficult to navigate. A gradual sloping walkway or a ramp in place of steps can provide better access to an outdoor living space.

When building a ramp, refer to the American Disabilities Act Code for measurement guidelines. Even though private homes are not required to follow these requirements, theyll help you determine proper slope, length and width specifications. Ramps can be built with wood or metal. If you dont have access to a professional who can build a ramp for you, some pre-made ramps are available online. Add skid-resistant surfaces to the ramp with special paint, tape or rubber matting for added protection against falls or slipping.

The threshold entrance into the home can also pose a problem for people with mobility challenges. You can purchase small threshold ramps at local hardware stores. Ramps can be made to enhance, not detract from the look of your home and increase your resale value. Check out Pinterest for some great ideas.

2.Clear, repair, or replace pathways.

Does your yard have a sitting area outside where you like to spend time by yourself or enjoy the company of friends and family? Are sidewalks and paths in your yard in poor condition with cobblestone or pavers that shift over time, or trees and bushes that become overgrown? Consider hiring a landscaper to trim or replace trees or bushes. They can repair or replace materials on a walkway that are hazardous to navigate with a cane, crutches, walker, wheelchair or mobility scooter.

Think about replacing mulch, stepping stones and gravel with crushed limestone, as this can make pathways smoother. Or, have walks paved with asphalt or concrete. Good sidewalks and pathways are smooth, flat or gently sloping, free of clutter, and at least 4 feet wide to accommodate mobility aids.

3.Raise gardens.

Gardens provide benefits for young and old. Children learn the appreciation of seeing plants grown and bloom, and, according to a research study, daily gardening can reduce dementia by 36 percent in seniors. Whether youve maintained beautiful gardens for years or youre just now trying out your green thumb, you can create a garden thats within reach.

Making a few changes can help minimize bending and straining for people with back and joint discomfort. Think about reducing the size of your gardens and raising them up to a higher level. Ask family or friends if they will help you make gardens more accessible by building a raised bed garden. You can also try vertical gardens: Make them with t>

You and your whole family can benefit from keeping outdoor spaces accessible and well maintained. It could even increase the value of your home.

Jean Cherry, BSN, WCC, MBA is a former home health nurse who is passionate about helping those with mobility issues live a happy and healthy life>
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How To Channel Your Personality To Create The Perfect Home For You

Youre not boring, and your home shouldnt be either. But, you can obey all the design rules and end up with a place that looks like it came right out of a magazine but still lacks a little spark. Heres how to inject a little "you" into it.

Art

You dont have to have a house full of bold florals or abstract pieces just because thats whats "in" right now. But, it may feel like it if youve been browsing for art. Building an art collection with staying power means collecting items and >

"Think beyond which artists are hot or trendy," said Tze Chun, founder ofUprise Art, an online art gallery, to Corcoran. "The goal is to build a collection that can grow with you, so select artwork that speaks to you rather than whats popular at the moment. Art is a great investment because of the value it provides you everyday, by improving your living space and offering daily inspiration."

Furniture

It can be a little challenging to furnish a new space from scratch, especially if you dont want a matchy-matchy situation. But, ordering a furniture "set" can be tempting because it makes it so easy to fill up a room quickly. Doing so can result in a boring look, and can also lock you into one particular >


visaopanoramica.com

And then theres another reality that many people face: Trying to merge too many pieces and too many >Adding one great piece

Sometimes, all it takes it one great piece to create a memorable and mesmerizing space. Your grandmothers old sideboard? Paint it glossy black and showcase it in your dining room juxtaposed against your modern table. That Italian chandelier you fell in love with at the Flea Market? Hang it over the bathtub in your master. Unexpected touches that speak to you will always catch your eye when you walk into the room, make you feel like youre home, and become conversation pieces for visitors.

Personalized passions

No matter what youre into, be it gothic architecture or prehistoric fossils, there is a way to bring that passion into your home and showcase it in a way that creates interest but also makes you smile.

"A collection is a window into someones world. Each piece tells a story of who they are and where theyve been," said Barrons. Take a cue from three leading designers who offer recommendations for showcasing "cherished collections in >Check your Zodiac sign

If you can diet according to your Zodiac sign, you can decorate according to it, too. The idea is to tap into the main elements of your sign to connect to the colors, >Aquarians "gravitate toward inventive design with nostalgic pops," while Taurus "rooted earth sign" means theyre "drawn to natural, unpretentious materials likerustic woodand unpolished stone," said PureWow. And the hermit like Cancer is "all about maintaining a soothing, domestic shell, which makes you the prime candidate for the Scandinavian life>Choose color wisely

When you see a super chic home, it often has very little or no color on the walls. And the overwhelming mantra among designers, especially those who are staging a home, is to keep everything neutral. But you dont have to follow that rule, especially if youre just moving in or freshening up your place.


housebythewater.wordpress.com

"The introduction of colour into your home is the simplest and surest way to inject a little of your personality while creating a mood that is both interesting and enduring," said Domain. "You would be surprised at how effectively combinations of colour can direct your mood. For instance, greens and blues are typically very calming which is why you will often see a hospital saturated with these tones, and red is a much more emotionally intense colour that is known to increase cravings for food, making it a common colour used in kitchens and dining rooms."

If youre not ready to do all the walls, start with one; you might end up loving this feature wall, or it may inspire you to go ahead and paint a few more.

Paper it

Wallpaper has been enjoying a resurgence over the past few years, and so has the peel-and-stick version. This is one of our favorites things to use to inject personality into a room and make it feel dynamic, romantic, exoticor any other feeling youre going for. Because its removable and replaceable, its great for fickle design folks like us who want peacocks on the wall this month, banana leaves the next and then start thinking about how great that wall in the kitchen would look with peel-and-stick faux brick while were installing banana leaves in the living room.
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Emerging Trends Threaten Housing

Household growth has increased over the last three years, millennials are stepping up, and home prices have recovered from recession lows. So what is there to worry about? Not much on the surface, but there are some emerging trends that suggest good times wont continue for much longer in the housing market.

Rising housing costs

According to the latest from Joint Center for Housing Studies at Harvard University State of the Nations Housing, the cost of housing has outpaced incomes to the point that almost one-third 38 million U.S. households are cost burdened, meaning they pay 30 percent or more of their incomes for housing in 2016. Worse, 47 percent of renter households 28.8 million are cost-burdened, with over half paying more than 50 percent of their incomes for housing.

The price of a typical existing home sold in 2017 was more than four times the median income, compared to just over three in 1987.

Tepid wage growth

While theres been growth in wages in recent years, it hasnt kept up with inflation, and certainly hasnt kept up with housing. The real median income of households in the bottom quartile increased only 3 percent between 1988 and 2016, while the median income for adults aged 25 to 34 rose by just 5 percent.

Meanwhile, the median home price grew 41 percent faster than inflation between 1990 and 2016, the median rent grew 20 percent faster. Adding insult to injury, 2.5 million rental units priced below 800 serving households earning up to 32,000 annually were lost between 1990 and 2016.

Income Inequality

A new reportnbsp;from the National Low Income Housing Coalition attests that theres not one state, county or metropolitan area in the entire United States where a full-time worker earning the federal minimum wage of 7.25 an hour can afford a modest 2-bedroom apartment. They need three times that amount, or 22.10 to afford a modest two-bedroom rental.

According to real estate analyst John Burns, the problem is the shrinking middle >

lt;pgt;Senior Households increasing faster than Millennials

Millennials formed an average of 2.1 million net new households annually in 2012ndash;2017, but despite being larger in numbers, theyre forming fewer households than older generations. Over the past 10 years, the number of older households grew by over 7 million, rising from one in five households to one in four. By 2035, one out of every three households will be at least 65 years old. As the oldest homeowners move into care facilities or pass on, there eventually wont be enough buyers for senior homes because younger household formation hasnt kept up.

New Housing Still Underperforming

New JCHS analysis projects household growth at a rate of 1.2 million per year between 2017ndash;2027. Single- family construction, however, has remained well below the long-run annual average of 1.1 million units for at least ten years.

Homebuilders are trying to keep up. Single-family starts rose 8.6 percent to 848,900 units while permitting increased in 78 of the 100 largest metros, but because of the higher cost of materials, new homes are priced higher than existing homes. In April 2018, the median price of new homes sold was 312,400, compared to the median existing-home price of 257,900.

And for the first time since 2009, the national rental vacancy rate rose, ticking up from 6.9 percent to 7.2 percent. Most of the increase was concentrated among newer and higher-cost units, which suggests the party could be about to end.

The National Association of REALTORSreg; reported that housing sales volume has fallen for the last two months. While prices are at a 74-month high, sales volume is 1.4 percent below a year ago.

While its early to call a housing recession, the indicators are being felt. Home prices, affordability, household formation, wages, rental, existing and new home performance are all categories to watch going forward.


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Broker with Heart: Brokers Making a Difference

PinRaise, Inc., creators of the Agent with Hearttrade; program, have developed a new branch of their program to welcome brokerages to their community through their latest initiative, Broker with Hearttrade;.

Realty Times sat down with PinRaise, Inc. Chief Communications Officer Celeste Orsquo;Hara to discuss this new program and the many ways it can benefit brokerages everywhere. According to Mrs. Orsquo;Hara, ldquo;Broker with Heart functions in the same way as Agent with Heart in that real estate agents pledge to donate an amount of their choosing to a nonprofit of their clientrsquo;s choice at closing. The big difference, however, is that now a broker can receive the Broker with Heart designation and invite their agents to participate as Agents with Heart.rdquo;

See Also: Merging the Gap Between Real Estate agents and Social Responsibility

Broker with Heart also opens the opportunity to mortgage lenders and insurance brokers to pay it forward locally. ldquo;Wersquo;ve had mortgage and insurance brokerages that will match Agent with Heart donations, or simply donate on their own with each closing. Broker with Heart is truly fluid and inclusive of any type of broker that is interested in donating back to their community. Additionally, many mortgage and insurance brokerages love that Agent with Heart makes a great conversation piece and brings something new and different to the many breakfast meeting presentations they give in any given month.rdquo;

To date, the Agent with Heart program has been tremendously successful in generating thousands of dollars in donations to nonprofits around the country, and PinRaise anticipates generating exponentially more funds now that Broker with Heart has opened the opportunity to offices as well as individual agents. ldquo;Wersquo;re proud to have found a solution to social responsibility in the real estate industry as the call for giving back locally rings louder than ever, and we are confident that our partnership with brokerages across the country will assist us in our goal of donating to as many nonprofits as possible.rdquo;

Of course, brokerages that give back arenrsquo;t unheard of. In a competitive market where brokerages are currently setting up their own individual partnerships with specific nonprofits, Orsquo;Hara isnrsquo;t concerned. ldquo;What sets our programs apart from similar programs in existence is that, with Agent with Heart, the clients are responsible for choosing where their agentrsquo;s donation will be directed. For a client, being able to personally choose a nonprofit and know that the donation will be going to a cause that is close to their heart, versus a cause a client may know little about, is an empowering and meaningful experience, and one that leaves a lasting impact.rdquo;

Agent and Broker with Heart each have the ability to reach clients on a more personal level than others, with some clients even asking that their agentrsquo;s donation be made on behalf of a specific friend or family member >

For agents and brokers alike there is explicit value in the extensive publicity PinRaise offers after each donation. ldquo;Competing programs may offer a donation service, however there is no one in the marketplace that offers the publicity after each donation for agents like we do,rdquo; says Orsquo;Hara. Each time a donation is made, PinRaise launches a round of online and social promotions with customized materials to recognize the agent and the donation theyrsquo;ve just made. ldquo;Our agents love the promotions we offer for them and the fact that they can be recognized by a third-party rather than having to toot their own horn.rdquo;

In addition to promotions with each donation, PinRaise also provides its members with an arsenal of personalized materials for agents to utilize in their personal marketing, including an online advertisement that PinRaise places across various locations to promote that agent online.

With the opportunity now open to offices, brokers who are keen to differentiate their branch and would like to implement a program in support of social responsibility, or who already have a donation plan in place but would love the publicity with each donation, should give pause to consider Broker with Heart. ldquo;We welcome all branches to our program, and we look forward to the incredible donations we can accrue for nonprofits nation-wide with the help of our partnering brokerages and agents,rdquo; concludes Mrs. Orsquo;Hara.

For more information on Broker with Heart, or to receive a membership quote for your office, please visit www.PinRaise.com/Broker-with-Heart.


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Ask the HOA Expert: Special Assessments

Question: Our pool and clubhouse are 15 years old. The board wants to build a larger pool and upgrade the clubhouse which would require a 200,000 special assessment and drain our reserves.

Answer: The board has no authority to expand the common area amenities. Its authority is to maintain existing amenities in good condition. However, if an appropriate majority of the members are in favor of raising and spending this money for this purpose, that is acceptable. However, the "appropriate" majority may be a super majority of two thirds or more depending on how your governing documents read. This requirement could effectively kill the proposal.

Question: We did not have a quorum at our last annual meeting. So, the manager passed out blank proxies for people to sign just in case they couldnt attend the rescheduled meeting. When I asked who would be the appointee for the proxies, I was told that they would be divided among the board members. Is this the way it is usually done?

Answer: Proxies should have been distributed and collected in advance of the original annual meeting to ensure there was a quorum. Its up to the board and manager to make sure those proxies are collected before the meeting to make sure a quorum is secured, not simply hope enough people show up. Getting members to return proxies in advance takes persistence but is extremely important.

As far as the proxy process itself is concerned, a member has the right to designate a representative to act on their behalf at an annual or special member meeting. If that member either does not select a representative or the chosen representative fails to attend the meeting, the proxy could include an alternative to allow "one of the directors of the board" to vote on their behalf. If a member isnt comfortable with a board member voting, the proxy should include another alternative which states "If my designated representative fails to attend the meeting, this proxy is to be used for quorum purposes only." This way, the show can still go on. For a sample proxy, see www.Regenesis.net Forms sections.

Question: Safety is a large concern in our HOA. One of our residents wanted to arrange for a Neighborhood Watch representative to speak at the annual meeting. The request went to the manager who said that the board had to approve a speaker. Weeks later, she claimed she could not get a response from the board. Does the board really need to approve a speaker?

Answer: Every meeting should have an agenda that is noticed in advance to all attendees. The typical annual meeting agenda template looks something like this:

I. Call to Order
II. Establish a quorum
III. Approve previous annual meeting minutes
IV. Officer and Committee Reports
V. Election of Directors to the Board
VI. Old Business
VII. New Business
VII. Adjourn Meeting

Since this is a business meeting, the typical agenda does not provide for speakers. However, if there is a proposal under New Business to, say, Improve Security Using Neighborhood Watch, it is enti>

That said, you do have the right to request time for a speaker. Your manager failed to address the request. "Not getting a response from the board" is a lame excuse. The board president is the one that approves the agenda. You could have called that person directly to discuss it and should do so in the future to avoid the bureaucratic bottleneck.

For more innovative homeowner association management strategies, subscribe to www.Regenesis.net


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Deck Those Condominium Halls

Question: At our condominium, the grounds and buildings are kept immaculately and our hallways and lobbies have just been renovated by a professional decorator. The lobbies look elegant, and halls are newly carpeted. Some owners, however, have taken it upon themselves to put tables, plants and even paintings in the corridors. Some owners are constantly asking for a more "democratic" acceptance of their tastes and wishes. Some have even suggested putting reproductions of Impressionist Art in the hallways, since they feel nobody could possible object.

Other owners believe that the professional decorator has done a good job, and that our building is beautified and in good taste. Is there any condominium rule to cover this problem? Can anyone put up art work in the hallways?

Answer: Lets face it; one persons definition of art will be another persons definition of pornography. You suggest that some owners want your association to be more democratic. The irony is that a community association is the ultimate of democracy -- with the good, the bad and often even the ugly.

The rule is quite simple: the common elements do not belong to the unit owners, but to everyone who owns a condominium unit within the complex. The Board of Directors of the Association is charged -- both by law and in your association legal documents -- with making most of the decisions for the Association.

Often these decisions are not earth shaking. Sometimes they involve making repairs to the common elements; sometimes they involve refurbishing the lobby and the elevators. And sometimes they even involve determining the color of the walls to be painted or the kind of art work to be displayed in those common elements.

Your Bylaws determine the Boards responsibilities. Some association Bylaws give the Board carte blanch authority to spend an unlimited amount of money for repairs, renovations and improvements. Other association documents place dollar limitations on the Board, requiring a majority of the unit owners to approve contracts that cost over a certain dollar amount for common element improvements.

In most cases, however, the ultimate responsibility for maintaining the common elements rests with the Board of Directors. If a unit owner wants to put up a painting or a plant in the hall, that unit owner must obtain written approval from the Board. The unit owner cannot take it upon him or herself to decide what is in the best interest of the entire Association.

If a unit owner likes impressionistic art, they can hang all they want in their own apartment. If a unit owner likes a certain table or plant, those items can be nicely located in his/her unit. But no one unit owner has the right to make any decision for the entire Association.

Your Board must take immediate action to stop the individuals from decorating the common elements. Although I seldom recommend it, the Board can take self-help, and have those objects removed. Alternatively, if the Board has the legal authority to do so, it can issue fines against those unit owners who are acting improperly. And if it really becomes necessary, as a last resort, the Board can go to Court and seek a restraining order against the violators.

Board members have a difficult task. Regardless of what they do, someone will no doubt object. Thus, before a Board decides to make aesthetic changes to the common elements, it is strongly recommended that input be sought from the unit owners.

I know of several associations that were facing similar issues. They had their interior decorator make some drawings which were posted in the front lobby. All owners were given two weeks in which to review those plans, and then an "informal" community meeting was held to discuss the plans and obtain comments from the unit owners.

While the final decision was made by the Board of Directors, they did receive -- and accept -- input from the owners. And even those owners who objected to the plans, recognized the fairness of the decision-making process.

In the final analysis, if you do not like the decisions made by the Board, you should consider running for office so that you can be part of the decision-making team.

That is the essence of democracy.
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Californians To Vote On Rent Control Initiative

Come November, Californians will vote on whether or not to adopt the Affordable Housing Act. It is not too early to begin discussing the details and the effects of this ballot initiative.

The initiative, as summarized by its proponents in the signature-gathering phase, does this:

Repeals state law that currently restricts the scope of rent-control policies that cities and other local jurisdictions may impose. Allows policies that would limit the rental rates that residential-property owners may charge for new tenants, new construction, and single-family homes. In accordance with California law, provides that rent-control policies may not violate landlords right to a fair financial return on their rental property.

The act, then, is not one that would set detailed rent control policies. Rather, its major significance is that it would repeal the states current over-arching rent control legislation. That legislation is embodied in what is widely referred to as the Costa-Hawkins Act. The Act, so-named because it was sponsored by Senator Jim Costa D and Assemblyman Phil Hawkins R, was adopted by the Legislature in 1995. It is embodied in California Civil Code 1954.5 -- 1954.535.

The Costa-Hawkins Act did not prohibit rent control in California, but it did seve>1. It prohibits "vacancy control". Vacancy control would require that a vacated unit must remain at the same rental rates that applied to the previous occupant.

2. It prohibits rent control from applying to units whose certificate of occupancy was issued after Feb. 1, 1995.

3. It prohibits rent control from applying to single-family homes or condominiums.

If the proposed initiative passes, it will repeal the restrictions that are currently imposed by Costa-Hawkins. It is important to note that the Affordable Housing Act does not impose any new rental housing restrictions. Instead, it leaves to local jurisdictions to adopt, essentially, whatever rules they want, as long as they do not "violate landlords right to a fair financial return on their rental property."

Currently, fifteen California cities have some kind of rent control ordinance. Prominent among them are Berkley, Oakland, San Francisco, Santa Monica, Los Angeles, and West Hollywood. They all operate within the limits of Costa-Hawkins, If Costa-Hawkins is repealed, those ordinances would still remain in place. However, they could then be changed in a variety of ways.

The immediate effects of passing the initiative sponsored by the Housing Affordability Coalition and who can oppose that? would be negligible. Effects would not be evident until local jurisdictions came up with their own formulations if they should choose to do so. But those effects could be enormous. Simply put, passage of this initiative could have the result of reducing the number of rental units to be built and available in the California market. That is the belief of the opposition group, Californians for Responsible Housing and who can be against that?. They argue that, in the long run, passing this initiative could be a very bad thing for tenants.

Were going to be hearing a lot from both sides. Be thoughtful. Ask questions. And vote.
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How Do Clients Rate Your Service?

When was the last time you took a close look at your service from the client point of view?

Much is made of "Im Number 1" sales awards which celebrate the number of deals closed, but is the same level of attention paid to professionalism in service delivery?

Length of time on the job, slick marketing, and the number of properties sold each year do not automatically indicate high standards of professionalism.

My definition of "professional" is "an attitude and an aptitude linked to the joy of a job well done and why that matters to others." "Professionalism," by my definition, "is measured by the reactions of those who are served and by the way they are made to feel mdash; important, significant, respected, valued." What are your working definitions of these foundation concepts which govern service quality?

Real estate offers specific service challenges: long periods of intense client interaction are required before, during, and often after each purchase or sale. Clients may spend weeks, months, or occasionally a year or more working with their real estate professional to progress to the offer stage. Sustaining high-quality customer service can be demanding, especially as it must be customized to each client or couples needs and decision-making criteria.

Service excellence lies in the details that are >Do your clients see your service level as "extreme excellence" or just OK? Rate your services according to the Top Five Criteria for Client-Centric Service Excellence:

1. Client interests come first.

The real estate professionals time, convenience, and commission should not be the priority. Sending out listings to prospects and showing properties are only part of the job. Applying expertise to strategize for a successful offer presentation and to master >

  • From the start, do you clarify exactly what the client wants to achieve and how well they understand the real estate process, so they can make informed decisions?
  • As a professional, do you explain to clients precisely to what degree you are accountable for results?
  • Are client rights protected throughout the entire real estate process and transaction, so they will not face disappointments, unexpected expenses, or problems after the transaction closes?

    2. Service concentrates on client needs.

    Professionalism involves tailoring information-analysis and decision-making to the needs of each client, not expecting clients to adjust their approach to the standard offerings of a brokerage. Problem-solving to establish the best match of property, finances, and functionality for each client is professionalism at its best. Labeling and pigeon-holing clients is not.

    • Do you have a range of up-to-date knowledge and skills in your "tool box," so you can offer the best resources and approaches to clients throughout the real estate process?
    • Do you know your own strengths and weaknesses, so clients do not lose out on a potentially-ideal property because you are overworked or distracted?
    • Do you respect client time and needs, so that the real estate process happens as smoothly and quickly as possible, with the minimum of hassles and stress for clients?

    3. Clients all receive top level service.

    In your mind, are all target prospects and clients equally important or are there deliberate inconsistencies in what individual clients receive from you in service and attention? Try considering each client as if they are the parent of the head of your firm or the regulatory body that issues your license. Act as if any deficiency on your part could be tomorrows viral post in order to keep focused on service excellence and taking responsibility for results and outcomes.

    • Do you provide better or more comprehensive service to personal friends or useful acquaintances?
    • Do you >

      4. Technology provides customized convenience for clients.

      Is your service-delivery design flexible enough to seamlessly incorporate ever-changing technology and social media that appeals to your target market?

      • Is your privacy policy all that your target prospects and clients expect it to be?
      • Is online transparency mdash; a social media essential mdash; an awkward fit for you and your brokerage?

      5. Strategic problem solving always favors clients goals.

      Your value to clients grows out of self-awareness, self-actualization, and self-discipline in acting for yourself and on behalf of others. You are paid to think exceptionally well for clients, so you must be exceptional at thinking for yourself.

      How strong are your powers of observation and communication?

      • When you cannot overcome a restriction or limitation, do you give up and consider it unsolvable?
      • Do you believe that when things go badly for you, you should be excused mdash; but still paid mdash; for providing less than your best effort for clients?

      The most significant differences between you and your competition mdash; within your brokerage and beyond it mdash; may lie in prospects and clients perception of the quality of the experience of dealing with you.

      From the client side of your services, is professionalism clearly and consistently evident?

      Source: PJs Whats Your Point blog and World Business Executive Coaching Summit
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      The 7 Worst Mistakes You Can Make While Renovating And How To Avoid Them

      Everyone wants to renovate. And now more than ever, they want to do it themselves. According to Remodeling magazine, "Big-ticket remodeling activity, already enjoying record economic conditions, is growing at its fastest pace in four years and should rise 5.1 this year alone." Those numbers are based on Metrostudys latest Residential Remodeling Index RRI.

      In addition, "TheRRIas of the first quarter of 2018 stood as 112.9, its highest reading ever. That number means the economic conditions known to influence remodeling activity are 12.9 better than the old peak in early 2007, just before the Great Recession. The RRI has shown year-over-year gains for 24 consecutive quarters, and as of 1Q18 it was 5.2 above the year-earlier levelthe highest such annual growth since the first quarter of 2014--and was 1.4 better than it was just three months prior."

      While all that remodeling is great for the economy and also, presumably, for individuals home equity, problems can arise when homeowners take on tasks themselves without the proper training or preparation. Keeping renovations on track is simple - if you know what to look out for so you can avoid big mistakes.

      Overestimating your skill

      Tiling looks easy, right? Why not do the entire bathroom, floors and walls. And who needs to take a >How to avoid mistakes:

      Take on something small, first. Test your skills, and your patience, before embarking on the tough stuff.

      Underestimating your budget

      Its a universal truth that no one ever puts aside enough money for their renovation. And it seems that the tighter your budget, the more likelihood there is that issues will arise to bust it The last thing you want is a problem that changes your entire plan last minute or makes you stop mid-renovation to make alternate plans or find more money.

      How to avoid it:

      Experts recommend setting your budget amount and then adding 20 percent, but, the more novice you are, the more you may want to add to that cushion.

      Minimizing the timeline

      Homeowners looking to do their own renovations can wildly underestimate the amount of time needed to make the changes. This is mostly due to inexperience but is also shaped by individual needs. Just because you only have two weekends to completely tear down and renovate your kitchen before your in-laws arrive doesnt mean its going to happen within that timeframe. Its more likely that theyll arrive to a mess and no functional place to prepare a meal, let alone the pretty finishes you wanted to show off.

      How to avoid it:

      Do some research. Listen to what the professionals say. Read some blogs from homeowners who have already done the DIY reno kitchen thing and absorb what they have to say. Really hear it instead of dismissing them as amateurs. Let the mistakes and experiences of others shape how you go about your renovation so your open eyes and open mind can guide you toward success.

      Swinging the hammer without a plan

      Demo sure looks fun on TV, and it can be fun. But it can also be seriously damaging to your property if you swing away without knowing what youre swinging away at, and you dont have a plan for what to do next, or what to do if you encounter something unexpected.

      "Work on older buildings can yield a lot of unforeseen events," said Architectural Digest. "Who knows whats behind that wall youre opening up? New construction is more controlled, but that doesnt always mean smooth sailing. Be prepared for the unexpected. We all hope and pray everything goes according to plan. Trust us: Nothing will."

      How to avoid it:

      Hire a structural engineer who can tell you exactly whats going on in the wall you want to take down there and ensure you dont do something crazy, like compromise the entire structure of your home.

      Not asking for help

      Congrats on that whole, "Im so independent" thing, but when it comes to renovating, the more the merrier. You want someone there to to help with the heavy lifting, to bounce ideas off of, and to confirm suspicions, when necessary.

      How to avoid it:

      Call your friends, call your fam, call your coworker whos the self-proclaimed Queen of Reno. If nothing else, having another human in the room will make the reno go quicker and will give you someone to talk to, other than yourself.

      Thinking you can just do it on weekends

      Sure, there are weekend warriors who can power through their Saturday and Sunday renos and go back to work on Monday, but, lets be real. Is that you? The last thing you want is to have to live in a mess for months while you figure out how to finish what you started.

      How to avoid it:

      One of the most important tips to consider before you embark on any renovation is to just get real honest with yourself about your natural tendencies. Some of us like spending 18 straight hours hammering and sawing and caulking, and some of us are tired and over it after the first 20 minutes.

      Not considering the impact on your marriage

      Theres a reason home renovation is one of the leading causes of divorce: The stress it causes. "Its not necessarily that the renovation process causes problems; its more that the process exacerbates whatever issues already exist in the >According to the publication, up to 17 percent of couples consider splitting up while fixing up.

      How to avoid it:

      Keep the communication going. And go into it knowing it will be stressful so youre prepared when things get testy. "Perhaps the best antidote to home renovation-
      Full Story >


      10 Places That Will Pay You To Move There

      Close to job. Great schools. Projected growth. Theyre all reasons why someone might consider buying a home in a certain area. But heres one more important reason: Because someone wants to pay you to move there.

      Thats right. You could actually make money moving to a new areahellip;if youre willing to go where the interest is.

      "The idea has spread where a strong economy, an aging population and an exodus of younger workers have triggered severe labor shortages - often places with very low unemployment rates and higher-than-average wage growth," said MSN. Thats why small towns across America, instead of offering incentives to employers, such asnbsp;Amazon.comnbsp;Inc., are giving it to workers - one by one.

      Were talking about places like:

      North Platte, Nebraska

      The city offers incentivesnbsp;"from student loan helpnbsp;and home buying grants, to gifted parcels of land and even town-wide ceremonies in your honor," said Inc. "Last year the North Platte chamber of commerce started offering up to 10,000 to anyone who movesnbsp;there for a job, in the hopes of helping the town of 24,000 fill some of itsnbsp;hundreds of job openings.nbsp;Theyll evennbsp;present you a large check during a ceremony in your honor."

      St. Clair County, Michigan

      This city has its eye on a student population who they hope will then stick around and pump money into the economy. They recently upped their student-loan scholarships from 10,000 to 15,000.

      Grant County, Indiana

      Move to Grant County with "advanced trainingnbsp;or a college degree" and you could getnbsp;5,000 toward a home from the economic development office. You have to stay for at least five years.nbsp;You could also get a 9,000 scholarship from thenbsp;chamber of commerce to help repay loans.

      Hamilton, Ohio

      Or, move to Hamilton, instead. The citys student loan repayment incentive is 5,000.

      Marne, Iowa

      You can even get a free piece of land when you move to Marne. "The small town of 120 has a free-lots programnbsp;that offers any newcomers a free piece of land to build a home on," said Inc. "The state of Iowa has one of the lowest unemployment rates in the country at 2.8 percent."

      But its not just small American cities that are enticing new residents to move there. You can opt to move to Canada, Switzerland, Chile, or even Italy, and get paid to do so.

      Candela, Italy

      "It pays to live in Candela, Italy. The once-bustling town in Puglia has dropped from more than 8,000 residents in the 1990s to just 2,700 today, so the mayor is offering up to 2,000 euros about 2,350 to lure people back to the picturesque Medieval village of winding streets and restored palazzos surrounded by hills and forests," said Moneyish.

      To qualify, you must "live inside Candela, rent a house and have a job paying a salary of at least 7,500 euros 8,800 per year. Singles will receive 800 940 euros from the town coffers, couples will get 1,200 euros 1,400, three-member families will get 1,500 to 1,800 euros 1,760-2,100, and families of four to five people will get more than 2,000 euros 2,350. Candela may also give tax credits on city waste disposal, bills and nurseries in the future."

      Saskatchewan

      "If youve graduated from a Canadian post-secondary institution and you live in Saskatchewan, you can qualify for a tuition rebate of up to 20,000 under the provincesnbsp;Graduate Retention Program," said Slice.nbsp;

      Pipestone, Manitoba

      In the rural municipality of Pipestone, Manitoba, you can get a grant worth up to 32,000, buy a home with just a 1,000 deposit, and buy a lot for just 10.nbsp;

      Albinen, Switzerland

      Last year, residents of Albinen in southern Switzerland pushed for an incentive program to attract some more folks."According to the proposal, anyone who decides to move to the village and buy, refurbish or build a home should be paid an incentive: CHF 25,000 per adult and CHF 10,000 per child," said Swissinfo. "There arenbsp;conditions though: applicants must be below the age of 45 and commit themselves to living in Albinen for at least ten years. They will also need to invest a minimum of CHF200,000 in the property, with the financing approved by the bank. If someone moves away or sells the property within these ten years, they will have to pay back the money received from the village."

      Chile

      Chile fancies itself the future business center of South America, so its efforts are geared toward startups. "In this scenario, Chile will pay a company 50,000 through their program Start-Up Chile," said Nomadapp. "In order to qualify, the startup must have the potential of becoming global and largely successful. In addition, they will provide you with a one-year work visa and business contacts. The support system is completely in English despite the country being primarily Spanish speaking."


      Full Story >


      The Fed Just Raised RatesSo What?

      Every six weeks or so the Federal Open Market Committee, or the FOMC, holds its two-day meetings to discuss the current economy with an eye on the future. The FOMC has various responsibilities but one of the actions it can take is to adjust the cost of funds.

      More specifically, it can adjust the Federal Funds rate. The Fed Funds rate is the rate at which banks can charge one another for short term lending. Short term as in overnight. When a bank makes such a move for a short-term loan itrsquo;s to shore up its reserve requirements. Banks are required to keep a specific amount of liquid funds available to meet customer demands for cash or credit.

      The Fed did indeed make such a move at its most recent round of talks and the committee members unanimously agreed to hike the Fed Funds rate by another 0.25 while also hinting at two more such moves before the end of this year. If that holds, that rate will have increased by a full percentage point in just one year. And thatrsquo;s a lot.

      But for those looking to buy and finance a home with a brand-new mortgage, these moves donrsquo;t affect mortgage rates. At least the most popular, fixed mortgage rates. When the Fed Funds rate is increased by 0.25, that is eventually passed onto their bank customers in the form of higher rates for automobile loans, credit cards and other non-mortgage consumer loans.

      Instead, mortgage rates are tied to a specific mortgage bond. For your average 30 year fixed conforming loan, the rate is tied to what is called the FNMA 30yr 4.0 or the FHLMC 30yr 4.0. Thatrsquo;s a bit technical for most but thatrsquo;s what nearly two out of every three fixed conforming loans are tied to. And because itrsquo;s a bond it acts just like any other bond. Bonds arenrsquo;t bought by investors for high returns but for safety. When an investor buys a bond, the returns are known in advance.

      If investors in general think the economy is starting to roll and gain strength well into the future, theyrsquo;ll pull money out of bonds and put more into stocks and mutual funds. When there is less demand for a bond, the price goes down just like with any other commodity. Less demand, lower price. Higher demand, higher price. The yield on the bond acts inversely to its price.

      Okay, letrsquo;s come up for air for a moment. In plain talk, as it >
      Full Story >


      The Fed Just Raised RatesSo What?

      Every six weeks or so the Federal Open Market Committee, or the FOMC, holds its two-day meetings to discuss the current economy with an eye on the future. The FOMC has various responsibilities but one of the actions it can take is to adjust the cost of funds.

      More specifically, it can adjust the Federal Funds rate. The Fed Funds rate is the rate at which banks can charge one another for short term lending. Short term as in overnight. When a bank makes such a move for a short-term loan itrsquo;s to shore up its reserve requirements. Banks are required to keep a specific amount of liquid funds available to meet customer demands for cash or credit.

      The Fed did indeed make such a move at its most recent round of talks and the committee members unanimously agreed to hike the Fed Funds rate by another 0.25 while also hinting at two more such moves before the end of this year. If that holds, that rate will have increased by a full percentage point in just one year. And thatrsquo;s a lot.

      But for those looking to buy and finance a home with a brand-new mortgage, these moves donrsquo;t affect mortgage rates. At least the most popular, fixed mortgage rates. When the Fed Funds rate is increased by 0.25, that is eventually passed onto their bank customers in the form of higher rates for automobile loans, credit cards and other non-mortgage consumer loans.

      Instead, mortgage rates are tied to a specific mortgage bond. For your average 30 year fixed conforming loan, the rate is tied to what is called the FNMA 30yr 4.0 or the FHLMC 30yr 4.0. Thatrsquo;s a bit technical for most but thatrsquo;s what nearly two out of every three fixed conforming loans are tied to. And because itrsquo;s a bond it acts just like any other bond. Bonds arenrsquo;t bought by investors for high returns but for safety. When an investor buys a bond, the returns are known in advance.

      If investors in general think the economy is starting to roll and gain strength well into the future, theyrsquo;ll pull money out of bonds and put more into stocks and mutual funds. When there is less demand for a bond, the price goes down just like with any other commodity. Less demand, lower price. Higher demand, higher price. The yield on the bond acts inversely to its price.

      Okay, letrsquo;s come up for air for a moment. In plain talk, as it >
      Full Story >


      The Fed Just Raised RatesSo What?

      Every six weeks or so the Federal Open Market Committee, or the FOMC, holds its two-day meetings to discuss the current economy with an eye on the future. The FOMC has various responsibilities but one of the actions it can take is to adjust the cost of funds.

      More specifically, it can adjust the Federal Funds rate. The Fed Funds rate is the rate at which banks can charge one another for short term lending. Short term as in overnight. When a bank makes such a move for a short-term loan itrsquo;s to shore up its reserve requirements. Banks are required to keep a specific amount of liquid funds available to meet customer demands for cash or credit.

      The Fed did indeed make such a move at its most recent round of talks and the committee members unanimously agreed to hike the Fed Funds rate by another 0.25 while also hinting at two more such moves before the end of this year. If that holds, that rate will have increased by a full percentage point in just one year. And thatrsquo;s a lot.

      But for those looking to buy and finance a home with a brand-new mortgage, these moves donrsquo;t affect mortgage rates. At least the most popular, fixed mortgage rates. When the Fed Funds rate is increased by 0.25, that is eventually passed onto their bank customers in the form of higher rates for automobile loans, credit cards and other non-mortgage consumer loans.

      Instead, mortgage rates are tied to a specific mortgage bond. For your average 30 year fixed conforming loan, the rate is tied to what is called the FNMA 30yr 4.0 or the FHLMC 30yr 4.0. Thatrsquo;s a bit technical for most but thatrsquo;s what nearly two out of every three fixed conforming loans are tied to. And because itrsquo;s a bond it acts just like any other bond. Bonds arenrsquo;t bought by investors for high returns but for safety. When an investor buys a bond, the returns are known in advance.

      If investors in general think the economy is starting to roll and gain strength well into the future, theyrsquo;ll pull money out of bonds and put more into stocks and mutual funds. When there is less demand for a bond, the price goes down just like with any other commodity. Less demand, lower price. Higher demand, higher price. The yield on the bond acts inversely to its price.

      Okay, letrsquo;s come up for air for a moment. In plain talk, as it >
      Full Story >


      Steps To Building Wealth

      Its never too late to secure your financial future. At BuildingWealth.org, a public service offered by the Dallas Federal Reserve, you can learn how to reach your life goals by budgeting, saving and investing, building credit and controlling debt.

      When you understand the difference between assets and liabilities, you know that owning a home, contributing to a retirement plan, and creating savings are all assets in the making because they increase in value or provide a return. Automobiles, clothing, smartphones and furniture are not assets because they depreciate in value. Liabilities are debts that you owe to credit card companies, mortgage lenders, hospitals, etc.

      It doesnt make sense to go into debt to buy possessions that arent assets, unless it serves a necessity like a car that gets you to and from work. Thats why lenders look at your credit history to see how sensibly you spend money and if your finances fall within their income-to-debt guidelines. You dont want them finding that all your free income goes to eating out and mall shopping. No matter how much money you make, you shouldnt have more than 42 percent of your income going to pay liabilities and that should include credit card debt, rent, car payments, student loans, etc.

      So the first step is creating a budget that enables you to save money. Track your spending and see where money is wasted so you can cut back and create savings. If your company offers a 401K plan, contribute as much as you comfortably can. Give yourself a goal to eat out once a week instead of five times a week. Youll be surprised at how quickly youll build savings.

      Owning a home is one of the foundations of wealth. With rare exceptions, the longer you own your home, the more equity, or ownership youll have. Equity is created three ways - when your home rises in market value, when you pay down or pay off your liability, and when you make repairs and improvements that raise the value of the home.

      Home ownership is like a forced savings account. Until you sell the home, youre not going to touch the equity youve built unless you take on a liability by refinancing your mortgage to make improvements.

      To figure out what you need to do to buy a home of your own, you should create a budget and a gameplan and then calculate how long it will take you to save the amount you need. If you want to save 20,000, that will give you a 10 percent downpayment on a 200,000 home. Saving 200 a month, youll be able to buy a home in just over eight years, but its likely that youll save much more per month as your income increases, your spending habits improve, and your investments start to show returns.

      All it takes is time and money.


      Full Story >


      The Cohan Rule: Estimate Your Expenses For IRS Deductions
      Question: I built my own house. At first I stuffed receipts into a folder but toward the end when things got hectic, I forgot. I probably have receipts amounting to a quarter of what I believe I spent, land included. How can I establish a credible basis when it comes time to sell? The good news is the house is probably now worth a million and I think I spent less than 150k. Warren.

      Answer: Warren, We all have those stuffed receipts, although usually they are in a shoe box and not a folder. But all is not lost. Remember the song "Im a Yankee Doodle Dandy". Its author was George M. Cohan. Why do I mention this? Because the so-called "Cohan rule" will assist you.

      Oversimplified, Mr. Cohan did not keep good records; in fact, it appears that he did not keep any records, based on his busy schedule. When he included lots of expenses in his tax return, it was rejected. However, on appeal, Judge Learned Hand reversed the IRS. The Cohan rule basically means that you can estimate your expenses so long as you can show there is some basis for the deduction; in other words, can you prove you made improvements to your house?

      In the words of the Court: "it is not fatal that the result will inevitably be speculative; many important decisions must be such."

      Additionally, I have heard tax lawyers point out that section 274d of the tax code only requires substantiation for gifts, travel and entertainment. Since home improvements are not included in that list, you can >However, discuss your situation with your own financial and legal advisors. I cannot provide specific legal advice.

      Question: With all of the difficulties being experienced in the real estate marketplace and by >Answer: Jon. Thats a great question. First, lets provide some definitions.

      There is a title company. In the West, they are called "escrow companies". The title company conducts the settlement, arranges for all legal documents promissory note, deed of trust, truth in lending, etc to be signed and notarized, gathers in the funds from the buyer and the mortgage lender if applicable, records the legal documents among the land records in the jurisdiction where the property is located, and then disburses the settlement proceeds according to the settlement statement which is called a HUD-1.

      There is also a title insurance company that writes the title policy for both owners as well as lenders. The title or escrow company is an authorized agent for a title insurance company and has the right to issue the policies on behalf of that company.

      If the title company goes out of business for whatever reason, you still have the protection under your title policy by the insurance company on which the policy was written. They are what is known as the underwriter.

      But what if the underwriter -- the insurance company itself -- goes out of business? Every such company is regulated in every state in which they do business by the State Insurance department. The underwriter -- just like any other insurance company -- is required to maintain reserves, which are monitored carefully by the state insurance commissioner. And to my knowledge, most -- if not all -- states have policies in place to protect the insured in the event the company goes out of business. In many situations, other insurance companies have to take over and assume the obligations of the failed company.

      If you have more questions, I am sure that your states insurance department will be able to provide specific details about your states policies.

      But your question prompted me to remind all homeowners: when you went to closing you probably purchased an Owners title insurance policy. Typically, the title escrow company will want to record the legal documents first. Then when they are finally received back from the Recorder of Deeds, you will get the original recorded deed plus a copy of your title insurance policy.

      It often takes months to get the documents back from a Recorder of Deeds. So dont forget to make sure that ultimately, you get a copy of your title insurance policies.

      Question: My father added my brother and I to the deed of his house he bought back in 1979. Now that he did his living trust, he wants to remove us from title Deed so we dont have to pay taxes in case something happens to him. I understand his property taxes will go way up is that correct. Should he leave it like it is or remove us from title? Martha.

      Answer: Dear Martha. Property taxes will not go up me>However, in most cases, I dont like parents putting their children on title; that is considered a gift and the tax basis of the giftor your dad becomes the tax basis of the giftee you and your brother. That means that on his death, and if you want to sell the property, you potentially will have made a profit -- albeit a phantom profit.

      On the other hand, if you and your brother inherit the house on his death, you get what is known as the "stepped-up" basis -- ie the value of the property on the date he died. Thus, if you sell it shortly thereafter, you will probably make no profit and thus not have to pay any capital gains tax.

      Question: I have a similar situation; my mother bought a home by herself about 10 years ago and has recently added my name to the deed. I was told that when my mother passes away I will have to pay a higher tax because I was added to the deed rather than my mother granting me the house through her will/estate. I am not living in the house either. I am very confused about what steps we need to take to make this a smooth and least costly event for my mother and me. Thank you. Erika.

      Answer: Dear Erika: See my response to the question above yours. Yes, lets say your mother bought the house for 100,000 and made no improvements. When she dies, the property is valued at 500,000. If you inherit the house, your tax basis is stepped up -- in other words, the value of the house on your mothers death is that basis. So if you sell for 500,000, you have made no profit and thus do not have to pay any capital gains tax.

      But if she gave you half of the house, your basis is 50,000. Now she dies. You get the stepped up basis for your mothers half -- ie 250,000, but you overall tax basis is ow 300,000 250,000 50,000. If you sell for 500,000, you will have made a profit of 200,000 and unless you will have owned and used the house for two out the five years before it was sold, in which case you can claim the up-to-500,000 exclusion of gain or up-to-250,000 if you file a single tax return you will have to pay capital gains tax on your gain.

      The bottom line: in most cases, it makes no sense for a parent to gift a portion of the house or all of it to their children. But talk with your own financial advisors about your specific situations.

      Question: I recently got engaged and have plans to have my new fiancee move in to my house. I am currently the sole owner of the home. We have a wedding date scheduled for over 2 years from now. He makes much more money than I do and has a greater tax liability. Would it be advisable and/or beneficial to add him to my mortgage and title to allow him to attain the tax benefits? I believe the right off would be much more meaningful to him, but I dont want to make a mistake that will cost me more money in the future. Tori.

      Answer: Dear Tori. Congratulations. I never want to break up a >I dont think it is a good idea to put him on title. And it will cost you or him a lot of money to do it. You will have to pay your state and possibly local recordation and transfer tax, and your lender will want a brand new settlement closing/escrow in order to put his name on the deed and the mortgage.

      If you do decide to do this anyway, talk with a lawyer and enter into a written partnership agreement with him before his name is added to title. And title should be held as "tenants in common"; so that you preserve at least half of the property should you split up or should one of you die before the marriage.
      Full Story >


      Finally an Answer to One of the Most Commonly Asked Questions Homeowners Ask a Real Estate Agent

      The bluehammer home improvement calculator allows you to provide estimated costs for home improvement and repair projects for your clients. Its easy to use and can be accessed on all your connected devices. You can use it in a variety of ways to benefit your clients and gain business.

      Give clients an accurate cost of ownership, while they tour

      With bluehammer, agents have the opportunity to use the home improvement calculator to provide cost estimates for any home remodels or repairs that a prospective buyer may want while they tour the home. bluehammer offers real estate agents the unique ability to provide clients an overall potential cost of ownership. By combining information from the home improvement calculator with their expertise, real estate agents can successfully assist clients in negotiating the absolute best price for their home.

      Anticipate client questions on a new listing

      Touring a home thatrsquo;s new to you? As you walk through a new listing, look for potential upgrades or repairs that buyers will want completed. The bluehammer home improvement calculator will assist you in providing estimated costs for these repairs so yoursquo;ll be prepared when your client asks.

      Impress sellers with a property repair estimate

      Set yourself apart from the pack and wow potential sellers by offering a free bluehammer package that includes a property repair estimate. Walk through their house using the home improvement calculator and assist them by pointing out potential repairs and renovations that would increase the value of their home, all while providing an accurate estimated cost for those improvements.

      Take advantage of the ldquo;renovation boomrdquo;

      Now more than ever, buyers are looking for homes that need a little bit, or a lot, of TLC, and nothing stresses a homeowner out more than surprise renovation costs. With bluehammerrsquo;s home improvement calculator, clients can feel secure knowing that your estimates are gathered from real, local estimates right in their neighborhood.

      Step ahead of the competition and start being known as the go-to agent for renovation purchases in your neighborhood. Become a bluehammer agent today. Click to learn more and get started.nbsp;Realty Times readers can save 20, use this link to subscribe.


      Full Story >


      Sneaky Ways To Find A Home Thats About To Be Listed For Sale

      Coldwell Banker just rolled out some exciting new tech thats meant to help determine when someone is about to list their home for sale. What may sound Big Brother-y to some is being lauded by others as the Big Data answer to next-level real estate success. Call it the high-tech version of going door-to-door asking if owners are looking to sell their home. Also, call it a great lead source for agents and a potential boon for buyers looking for an "in" after repeatedly getting shut out of homes thanks to ongoing inventory issues.

      "In a real estate market facing a severe lack of homes for sale, agents could really use a secret weapon - something to shake up the status quo of the listing and selling gamehellip;something to help them compete in a low inventory market," said RISMedia.

      Coldwell Bankers solution: CBx Seller Leads, which can identify homes that are most likely to be sold before an agent ever becomes involved. "Coldwell Banker has taken it to the next level, expanding the value of big data for real estate by adding proprietary algorithms and machine learning to the data in the original CBx product to fuel the entire CBx Technology Suite and give brokers and agents access to market intelligence they cant get anywhere else."

      Skeptical? Consider this: "Coldwell Banker piloted CBx Seller Leads in 16 different markets; during the pilot, leads converted at twice the industry average."

      The potential advantage to the agent is undeniable, but we also love the benefit to buyers. Agents who nurture those leads may be able to find a gem for a client without having to fight other buyers in a crowded market where inventory is at a premium. But CBx Seller Leads isnt the only way to get an early beat on new homes that havent yet been listed. Here are some more tips that could help you find that elusive home.

      Stalk your preferred neighborhood

      Sure, the workmen outside that cute corner Colonial could mean the homeowners are doing some updates to make the house function better for them. Or, it could mean theyre making updates to get the home in better shape so they can list it. You dont know until you ask. Your real estate agent may recommend leaving this task to them for best results, and, you never know - it could turn out that you end up shaking on an as-is property that gets you into a desired neighborhood, gets you a great deal, and gives you the opportunity to fix it up the way you want to.

      Work with a connected REALTORreg;

      If a listing doesnt get posted to the MLS or the big listing sites like Trulia and Redfin, how do you find out about pocket listings? The first step is to ask your real estate agent. Tell them that youre interested in pocket listings and that youd like to expand your search beyond the homes on the MLS. Encourage them to reach out to other realtors to see if there is a hidden gem on the market. Its a lot more work than scouring the online listings, but sometimes it can really pay off. In addition to working with an agent, there are also sites getting into the pocket listing game, such asnbsp;PocketList, which specializes in unlisted homes in the San Francisco Bay Area. Zillow also hasnbsp;a "coming soon" search feature, which allows you to check out homes that have not yet been posted on a listing service.

      What youre looking for in a real estate agent is someone who is going to work hard for you, obviously. But, especially when youre trying to find a home in a hot market where there arent a lot of available homes, working with someone who has a large base of connections in the industry and a great working >

      Look for an unkempt yard

      Could be an overwhelmed homeowner, could be the owners are on an extended vacationhellip;or it could be that the home is about to be foreclosed on.

      Track "Notices of Default"

      Finding a pre-foreclosure property isnt as easy as driving down the street in your preferred neighborhood, looking for signs on the lawn. There is no complete list that aggregates listings of homes subject to a notice of default, and it can be a process to find these potential buys. A savvy agent who hustles to find properties in default can be a real asset to a buyer, especially if they are able to cultivate a >

      "The easiest way to buy a pre-foreclosure home is to help the seller to make up the back payments and then arrange to buy the home directly from the seller," said The Balance.


      Full Story >




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