About Kent County, MI

A Different Approach to A Real Estate Career in 2012!

02-08-12

Lola Audu~Real Estate Broker/Owner Grand Rapids, Michigan Real Estate

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Office: (616) 791-0511

Secondary: (616) 647-4226

The first month of 2012 is already over. Wow, it's hard to believe. Time flew by! For some agents in West Michigan, the year roared into focus with sales and business. For others, the past 40 days have been fraught with worry about the future and if they will survive another year. Many agents left the business when the dues billing for the local MLS came in January. However, for those who have chosen to stay, you have a choice...

The choice to simply exist in limbo without a sense of purpose or direction OR the choice to do things differently with regards to your real estate career. If you've been thinking about your career or if you've realized that you must do something different in order to thrive, take a minute to watch the video. There is another way and you owe it to yourself to find out if this is a solution for you.

4 Comments

It's a sign of the times!

02-07-12

Donna Tashjian

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Office: (616) 929-7304

Mobile: (616) 803-9456

It’s a sign of the times!

Most of us grew up thinking that if we planned well and played by the rules, we’d never have to stand by as our financial lives unraveled.

But upheavals on Wall Street, unacceptable rates of unemployment and plummeting real estate values have taken their toll. Since 2007, 7.9 million homeowners have lost their homes to foreclosure. Current estimates are that one in four homeowners owe more on their mortgages than they could get from the sale of their home. Millions more homes will be lost to foreclosure before this real estate crisis runs its course.

The sad fact is that foreclosure is not an isolated event. For months leading up to the loss of a home, financially strapped homeowners live under a cloud of uncertainty. And then for many years afterwards, the blow to credit gets in the way of buying another home or buying anything on credit. Foreclosure even complicates employment prospects.

The impact of foreclosure is huge and the sad fact is that it’s often avoidable.

As a real estate professional who has earned the Certified Distressed Property Expert (CDPE) designation, my mission is to provide financially strapped homeowners with options to foreclosure, ensure that they steer clear of scams, and help navigate them through the solution that best meets their needs.

Among the most important facts to keep in mind: the sooner help is sought, the better the options.

These are tough times, but more help is available than ever before. If you or someone you care about is ready to navigate away from the dark cloud of an unmanageable mortgage and realize that hope and blue skies are within reach, contact me today and let’s get started.

Donna Tashjian

616-803-9456 and DonnaT@GRAR.COM

www.DonnaHelpsHomeowners.INFO

www.GrandRapidsHomeforYou.com

1 Comment

Do I look like an ATM?

02-07-12

Gary White~Grand Rapids Real Estate Market Home Selling Pro! 616-784-2360

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Office: (800) 336-5124

Mobile: (616) 821-9375
Secondary: (616) 784-2360

Do I look Like your personal ATM?

Real Estate Agents and Brokers are in the business of real estate, selling homes. I maintain an office in Grand Rapids Michigan under the name Flexit Realty®. The name was created from “Flexible Real Estate Solutions” but that isn’t why I look like an ATM.

From time to time we all hear from potential clients the reasons why they can’t buy. We hear why they will have trouble paying the rent. We even hear why they are moving. Most of the time you have to feel for the economic situation that has caused them so much misfortune.

People become desperate and bargain without anything to offer for collateral. I receive calls nearly everyday from a buyer who knows they cannot buy, before they call me.

This may seem harsh to you, I run a business for profit. If I don’t make a profit my office closes, my agents find Licensed to Flexit Realty by Bigstock Photo another real estate broker to work with and that is that. The problem is, I like being a real estate broker in Grand Rapids, Michigan. I have lived in Grand Rapids for the better part of 35 years, since 1972, minus the 5 years in Florida and a couple years traveling.

I was asked if I could loan a buyer, I don’t know, the money for the down payment to purchase a home. They would pay me back right away. As soon as they saved the money, they had a good job at Wal-Mart Sam's Club, driving a forklift. I knew I looked like an ATM, my own grown children think so too! I may have a big soft spot for people in need, I like making an impact on peoples lives, without putting my business or personal life in jeopardy.

I don’t intend to minimize hard work or driving a forklift, I have done that and more. In my own company, as president, to get shipments out the door on time I drove a forklift, packed and taped boxes right along side my hourly workers. As I recall they laughed and had fun with me, fixed my mistakes, showing me why I designed and they did the manufacturing.

Let’s face the facts, I don’t know anything about my clients other than they are great people. Some of them have become life long friends. I remember them all, and they have each contributed to my success and my companies success. Do I want to become a home mortgage lender? Do I want to cross the line and become more than I am are real estate broker and agent? NO, I have a business to run and profit keeps that business running. Do I want to be an ATM no, that isn’t my function as a Grand Rapids real estate broker, a home selling agent or representing buyers as a buyer’s agent in Grand Rapids.

I want the best possible outcome for my clients, I work hard to make sure that happens, just like my agents and other professionals in the real estate industry. I invest in my business and in my clients homes for sale. I invest in my agents with tools and knowledge skill sets to help them represent their clients better.

I feel bad for people that have put themselves in a fix, but I cannot fix all their problems. I feel bad for those that have not learned you must sacrifice for what you want. You must save for what you want. We live in the "Land of the Free and the Home of the Brave". We step out and work for our goals. The great result of that work, most people are able to achieve their goals of home ownership. It may not be in their time frame but they can do it with 3.5% down for a conventional loan. My first house was 20% down and my parents didn’t know what an ATM was at the time!

8 Comments

Selling Your Home in 12 Easy Steps, Step #12 Negotiations

02-06-12

Gary White~Grand Rapids Real Estate Market Home Selling Pro! 616-784-2360

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Office: (800) 336-5124

Mobile: (616) 821-9375
Secondary: (616) 784-2360

Negotiating Your Homes Sale, Step #12

Is one of the finale steps before you meet at the title company or lawyers office, depending on your state and method of completing your homes sale.

This steps requires some diplomacy and nerve to hold your ground on issues that will not kill the sale, yet will not cost your thousands of dollars.

Before inspections in most cases, before the value appraisal comes the purchase agreement to buy your home.

Real estate agents have very little contract negotiation training. Agents bring

Which Home do you want I have more than one!

Real Estate agents often do not have Negotiation Skills, they are learned on the job, representing home owners.

what negotiation skills they have, from other industries, or learn how as a result of client representation on the job as real estate agents. This is why real estate agent selection is so important. Real estate selling agents do have some formal negotiation training, learning the basics along with legal terms, during pre-licensed training. This can be only a few hours and for test purposes, not under real sales contracts or situations that can make or break a home sale. Real Estate brokers will provide new agents with direct supervision and/or offer in-house training classes.

Negotiation Guideline List:

Sell Price, what price is your bottom line after calculated expenses?
How much are you willing to spend on repairs? Many times a buyer agent will ask for repairs to be completed by a licensed contractor.
Possession date, when will you get the buyer access to your property after the sale? Will you give immediate possession or some date in the future? If it is some acceptable date in the future will your buyer give you those extra days, for living in their home, free? Negotiate your possession dates.
Appraisal, if the appraisal comes in lower than the agreed upon sell price what will the buyer do? Will the buyer ask you to lower the price? Will the buyer pay the difference in the agreed sell price, paying more? Can you split the difference? Know this information upfront, if you can. Have a alternative home selling plan ready, should this happen. “Make sure you ask for a copy of the appraisal.” now you know why. Put this in writing along with every clause, exception, addition and term changes make. In real estate like many other areas of life, if it isn’t written it is not legally bidding to either party. Consult an attorney
Closing costs, do you split costs based on actual costs of seller and buyer normal fees? Is the buyer asking you to contribute to their buying or loan costs? Can you maintain your selling price without any discount or lower price if you include these costs in the sale?
Before we get to the negotiations, it is likely the buyer will have a home inspection. We discussed repairs when you were preparing the outside and inside of your home for sale. Now is the time when those repairs pay off. If the home inspector finds repairs needed, and they will, you can negotiate to fix the problems or split costs of the repairs with the buyer. A word of caution here. If
Selling Your Home using Professional Real Estate Selling Skills can help you seal your home selling deal with a smile.

the repair is deemed to be required for the buyer to get their loan approved, you will probably have to do the repair out of your pocket. Deciding not to do the repair means that the buyer can not get the loan and will terminate the purchase agreement. In most cases the earnest deposit will be required to be refunded to the buyer.

Likely Required Repairs:

Railings, most common is stair railings, to upper and lower levels. Outdoor porch rails may be required, in some cases.
Electrical, circuit issues such as “double taps”, lose wires, plugs or missing face plates.
Ground Fault Circuit Breaker plugs by sinks, in kitchens and bathrooms within 6 feet of faucets, also called GFI’s (other names depending on area and state). Basically GFI’s stop people from being electrocuted if they drop something with an active (plug-in) electrical attachment into water. Hair dryer, frying pans, curling iron etc.
Rotted wood can cause structure issues, if you have or had a leak around toilet bowls and plumbing areas that have gone unnoticed.
Roof condition, not having enough acceptable service life left on the roof. Roof leaks or shingles or tiles are missing. Roof pitch has also been an issue at times, but less often.
Basement leak, if you have a basement. Many times this is poor drainage or not have downspouts installed.

Many more things can come up during inspections, you get the idea, your sale can be derailed if an inspector finds a problem. If you are unwilling to fix or pay for a requested repair and the buyer will not or can not negotiate with you because of the conditions of the loan, your sale can fall through.

Home Loan Appraisal, you have made it through inspections, now comes the appraisal value of your home. How much value does the buyers lender place on your home? Very important, try to negotiate to see a copy of your homes appraisal value by the appraiser. You mush have the buyers permission to see the appraisal. Agents can many times get permission to see limited areas of the appraisal. You can offer to split the cost if the appraisal comes in low. Most buyers want your home or they would not have made the offer to purchase. Offer them half is a win-win for both of you. When writing the purchase agreement make sure you ask to see this document. When negotiations are all smiles is the time to get yourself in the information sharing position.

If you missed any of the Home Selling Steps I have placed active links below.