Monday, November 1, 2010

Referrals are Key to Long Term Success

Years ago the king of a developing country issued a call, in essence a request for proposal, for a new town to be supplied with water.  There were at this point several dozen residents in the new town so a source of water was needed immediately.  The new town was in an arid region of the country and the nearest water source was twenty miles away.

The king received two proposals.  One proposal was from one of the new town’s hardest working residents.  The other proposal was from a resident from the town twenty miles away, the water source.  The out-of-towner’s proposal was rejected because it could not supply the town with water immediately – instead it would begin supplying water two years later.  Recognizing the diligence and the trustworthiness of the new town resident the king issued a contract for the supply of water.

Immediately the new town resident took his wagon loaded with empty buckets to the water source, filled the buckets, and returned to the new town.  The industrious water supplier would make the round trip every day during the early predawn hours.  The water supplier profited tremendously from the generous contract.

As the population of the new town grew the busy water supplier found himself on the road almost constantly making multiple daily trips to satisfy the unquenchable desire for water in the new town.  Before you know it

Wednesday, October 6, 2010

Delay in Foreclosures May Help in Short Term

Reposted from KCM - Keeping Current Matters from Steve Harney
Mixed reports about foreclosures.  Important for Realtors to know…


Just when you thought the real estate industry could not possibly become more surreal, IT HAS! The controlled flow of foreclosures to the market has been the number one concern of every housing analyst. There could be a 'double dip' in house values if they were released too quickly. The recovery could take years if they were released too slowly. Getting it just right was crucial. We posted on this issue last month. Both the private sector and the administration have been working the last eighteen months trying to get the release rate just right.
It seemed as though all the effort was paying off as there were a manageable number of distressed properties coming to the market and selling. Enter the 'robo-signers'.

What is a 'robo-signer'?

Because of the flood of foreclosures needing to be processed, there were employees who signed off on thousands of foreclosures attesting to the accuracy of the documents without having much personal knowledge of what they contained.

Wednesday, June 2, 2010 sent you a link to content of interest sent you a link to the following content:

#1 Threat to Housing Recovery: Shadow Inventory

The sender also included this note:

Steve Harney does an excellent job of raising awareness of market realities
to Realtors. Here is a re-post of one of his recent blogs.

Sent via a FeedFlare link from a FeedBurner feed.

Friday, March 12, 2010

Relate Sale Prices to Assessed Values

Almost every homeowner knows the assessed value of her property. Relating comparable sales to assessed values is, therefore, a good way to communicate with the seller.
Sometimes estimating the likely sale price is fairly straightforward based on the analysis that you have already performed. If you can confidently present price, and you are reasonably certain that the seller will not question your recommendations, great.
If, however, you anticipate that the seller wants to list her home for more than you think it is worth, then investing the time in comparing sales prices to