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How do you look at failure?

02-09-10
Chris & Sandy Benton
Chris & Sandy Benton: Real Estate Media in Charlotte, NC
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  • Mobile: (704) 236-0082

How do you look at failure?

When I say the word failure, what do you think? You probably think of someone who never done anything with their life? Maybe you thought of yourself, thinking from the past? Maybe you think defeat? In reality, none of them are actually true. The only way to be 100% a failure is if you give up totally on your dreams.

When I think of failure, I think of a stepping stone to success. You may be asking how is that? No matter what you attempt in life, you will always fail before you succeed. Think back from your past, When you first tried to ride a bicycle, did you just jump up on the bike and ride away? Probably not, more than likely, you got on and fell to the ground. Then got back on and fell to the ground again. Then again, and again until you eventually got the hang of it.

When you think of Babe Ruth, you probably think of someone who had the most home runs for many years, did you realize that he also had the most strikeouts? Probably not. There are many successful people out there who failed many times before they were a success. In fact I would be willing to bet that 95% or higher of the successful people failed many times before they made it. I read a survey that showed a lot of multi-millionaires went bankrupt several times before they became a millionaire.

When I look at my past, I definitely failed more times than I have succeeded. My wife and I are building several businesses now that are growing but before this we ran a local newspaper that failed. I also did a lot of things in my past where I failed but never gave up.

Failure is the foundation of Success. If you can say that I have never failed, then I can also say you haven't accomplished much. The bigger the success of a person, the more they have failed. All I am trying to do here is help you realize that failure is a part of life and if you learn from your failures then in reality it isn't a failure at all.

Here is a poem that I found about failure. I have no idea who wrote it but it is a great one!

FAILURE DOESN'T MEAN YOU'RE A FAILURE

Failure doesn't mean you're a failure,
it does mean you haven't succeeded yet.

Failure doesn't mean you haven't accomplished something,
it does mean you have learned something.

Failure doesn't mean you've been a fool,
it does mean you have a lot of faith.

Failure doesn't mean you've been disgraced,
it does mean you were willing to try.

Failure doesn't mean you don't have it,
it does mean you have to do something in a different way.

Failure doesn't mean you're inferior,
it does mean you're not perfect.

Failure doesn't mean you've wasted your time,
it does mean you have a reason to start fresh.

Failure doesn't mean you should give up,
it does mean you should try harder.

Failure doesn't mean you'll never make it,
it does mean it will take a little longer.

Failure doesn't mean God has abandoned you,
it does mean he has a better way.

Chris Benton
http://www.LivingOurStory.com

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Are Buying Foreclosures Worth the Hassle?

02-09-10
Jim Crawford ~ Atlanta Real Estate-ABR E-PRO
Jim Crawford ~ Atlanta Real Estate-ABR E-PRO: Real Estate Agent in Atlanta, GA
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  • Office: (770) 238-0122
  • Mobile: (770) 238-0122
  • Secondary: (888) 992-5546

Everyone wants a foreclosure, whether they can ultimately rent it or rehab it for profit -- or not.

Because I get a lot of calls from the curious, I can explain some of the procedures.

You'll have to either download from the internet a set of stipulations and/or requirements from a bank and each bank with have similar requirements to follow. Some may have thirty pages of information that you must comply with, much of it repetitive.

The bank will announce that their foreclosures are competitively priced at fair market value or below, based on subject property's condition. In the event there are multiple offers on one property, you will be notified and will than have specific multiple offer instructions. You might think they want you to give it your best shot at price, but it can also be that they will then not pay closing costs for example. In other words, now that there's several people interested in the property because price is excellent, you may have to give up the closing costs you've asked for (if this bank has even allowed you to ask for closing costs).

When you submit your offer, you will have no choice whatsoever but to call a designated loan officer and have the offer be accompanied by a pre-qualification letter from said loan officer indicating the type of financing and terms (you want to close in 2 weeks with the bank paying closing costs). You will be given a name, phone number, and a website to make application. Can you use your own bank ultimately? Sometimes and by that I mean if there are two offers that are the same but Offeror A will use the bank's person and you want to use your banker, Offeror A is getting the property. Don't bother making offers if you need to sell your home first; foreclosures are non-contingent sales. You won't be able to go to closing in the morning on your house and then close on the foreclosure across town in the afternoon. I've put my entire house in storage and lived in temporary housing to get a good deal. While it's a drag with three kids, goldfish, a cat and a dog, if you save $100,000, isn't it worth it?

You'll also have to add certain language to the contract to the effect that "Purchaser understands further addenda may follow verbal acceptance." This means that you've signed twenty pages of addenda, now twenty more pages may or may not follow. You will also be signing a paper stating that you understand you are using the bank's affiliates to close - loan officer, attorney, title company. If there is anything in the house such as a washer or dryer and it was intended to be left for the purchaser, it is not warranted to be in working condition, nor will it be replaced with an appliance that is working. Any disclosures required by the government, such as mold disclosures or lead paint disclosures will be signed and submitted. Foreclosures are sold in "AS IS" conditions, no disclosures, no warranties, no repairs, nothing. Can you ask the bank for a repair once you have your inspection? Everyone wants to ask for repairs despite the fact they were already told not to ask, you will not receive funds or repairs and you may receive your earnest money back. The exception may be safety or structural defects making the house unsound. I've had people claim they understand the meaning of "as is," they promise me they would never ask for repairs and as soon as they have an inspection with a laundry list of several repairs, they get overwhelmed and want their money back and want the bank to reimburse them for the inspection. If this is your personality - don't ever buy a foreclosure. You're getting the house based upon condition and your offer reflects that.

Earnest money will be in Certified Funds and once the bank signs the contract, the money is deposited. Most banks will set guidelines of acceptable earnest money up front. It's generally from $1,000 to $5,000 (more if million dollar property and above) and all cash offers are 10% of listing price, not agreed upon price. The bank pays commissions based on their net. A copy of the check is sent along with the contract, bank's loan officer letter, and addenda.

Give yourself plenty of time to close. If you want to close in thirty days, be prepared that the loan officer MUST have all lenders packages to the closing attorney at least three days before closing. If there is a delay, the buyer pays a daily charge and it will be unpleasant, it won't be a mere $100.00.

Once you have received verbal acceptance, you'll have to sign at least one clean purchase agreement, any addenda or counteroffers for blue ink signatures within two or three days of acceptance. You can then have an inspection if you wish and you will have to pay up to $400 to have the house water lines de-winterized and then re-winterized before and after inspection. If the utilities are not connected, you will have to call the utility companies to have service put on in your name and also to meet the gas man at the property to light the pilot light. Utilities will need to be on during the inspection period, and have it arranged with the inspector that once you verify everything is working, then he can come and inspect. Otherwise, you'll be paying for a trip to the house by the inspector, then a return visit. If closing is delayed, you will have to pay to have utilities put in your name on what was your original closing date.

No bank will allow their agent to forward your contract if even one page is missing initials.

Lastly, you will have to pay to have to doors to your foreclosure home re-keyed. The bank will put on a new set of locks once the former seller has vacated and they will not supply you with any keys at closing and in writing, you will agree to that term as well.

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Rental property can have very stable, respectful and reliable tenants. Atlanta, GA

02-09-10
Alf Gizzo
Alf Gizzo: Real Estate Trainer in Evergreen, CO
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  • Office: (303) 679-0634
  • Mobile: (303) 350-9488

Rental property can have very stable, respectful and reliable tenants. Atlanta, GA

Yes, that’s right! It all depends on product, location and first rate tenant screening. If you don’t have all three, your vacancy rate will be elevated. Let’s discuss product first. We recommend to our students that they furnish their properties with clean functional items, new linens and art work on the walls. What you are creating is an environment that is very agreeable to the tenant, one that not only the renter will look forward to coming home to, but also one, through pictures on flyers, web sites and word of mouth, will attract new inquires. We are all for building and keeping a pipeline.

Lots of furnished rooms for rent are not clean and contain old, thread bear chairs, sofas, and soiled mattresses. Would you want to stay any longer than you had to in a place that does not support a good sense of self-esteem? Nicely furnished rooms engender good paying tenants, who stay for long periods.

Our favored tenant populations generally do not have their own transportation so proximity to public transportation is necessity.

Key to this equation within our program is good tenant screening, which oddly enough doesn’t include credit or traditional background checks. Our tenants are referred to us, so we learn about them and their history though direct questioning of people who are familiar with each potential tenant individually. We discover personal background information and work experience. This type of screening done methodically will produce good paying tenants who stay for extended periods creating a stable house.

To learn more about setting up transitional housing, please download our free Ebook from the side bar on our main blog site.

Don't hesitate to contact us with questions. Learn about us. Learn our system. Learn what others have to say about us and our system.

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Atlanta Real Estate - Pricing and Selling your Home QUICKLY

02-09-10
KERRY LUCASSE - Your Intown Atlanta Real Estate Consultant
KERRY LUCASSE - Your Intown Atlanta Real Estate Consultant: Real Estate Agent in Atlanta, GA
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  • Mobile: (404) 432-1844

Atlanta Real Estate Agents - Selling your Atlanta home for top dollar

If you are thinking of selling your Atlanta or Decatur home this Spring, it is more important that ever to do your homework PRIOR to pricing and listing your home.

Pricing your home correctly the FIRST time can not only get your home sold faster, it can save you thousands. As of 3Q09, homes that price their home correctly (and didn't have to reduce), sold their home in 27 days.

Yes, Ladies and Gentlemen, even in this crazy real estate market, you can sell your home in 30 days or less!

As you'll see in the first chart below, those Atlanta home sellers that had to reduce the price one or more times, they were on the market for 256 days... that's almost 10 times longer.

top atlanta real estate agents, keller williams

If you think you have the patience to wait 256 days to sell your home, consider your pocketbook.

The sellers that priced the home correctly the first time, sold their home for 96.8% of the their listing price.

For those sellers that wanted to "test the market" and start with a higher listing price, they ended up selling their home for 75.7% of the original list price.

On a $300,000 home, that is a difference of more than $60,000.

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So how do you make sure that you price it correctly the FIRST time? I would recommend the following:

1) Interview three local real estate agents

2) Ask them to walk you through the neighborhood sales from the last 3 MONTHS. The market is constantly changing, so a home that sold a year ago in your neighborhood is no longer a true comparable

3) Understand your current competition -- ask the agent(s) to show you the other homes that are for sale in your neighborhood so you have a clear understanding of how your home stacks up

4) Get the agents honest feedback on your home's value. If you receive three separate opinions, you should be able to determine the fair market value for your home... and GET IT SOLD!

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Thank you for visiting our Atlanta Real Estate Blog

Posted by: Kerry Lucasse - Atlanta GA Real Estate Agent - Atlanta Home Search Team
The ATL Home Search Team is part of Keller Williams Realty,
specializing in Intown Atlanta and Decatur Real Estate, Foreclosures and Bungalows & Historic Homes

CALL US ANYTIME AT 404.432.1844

SEE MY CLIENT FEEDBACK AT: http://www.KUDZU.com/merchant/1106107.html

Atlanta Home and Condo Search

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Free Bank with Toaster!

02-08-10
Michelle Francis, Atlanta GA
Michelle Francis, Atlanta GA: Real Estate Agent in Atlanta, GA
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  • Office: (404) 219-9760
  • Mobile: (404) 219-9760

Free Bank with Toaster! Well that certainly caught my eye when I got it in an e-mail today. My father had been to a "moneyshow" financial seminar that he attends annually in Orlando, FL last week. He shared some general notes of what they were sharing, mostly random notes he'd taken.

i have attended the last five annual shows...and will write at random from my notes..........the 90s was the worst decade ever for stock market return....minus 9% worse than the 30s...if oil drops under 60 bucks means the economy is very weak.....headwinds ahead...CONSUMER DEBT.....average household has 15% equity today in the house down from 50% 4 years ago....and less than 100,000 in total equity....no interest rate increase from the fed this year....DEFLATION...the federal reserve is 96 years old....the value of our dollar is $.04 versus 96 years ago....new technology is deflationary...faster cheaper....see another 10% decline in home prices in 2010...on average......3.3% gdp needed to stabilize the economy....and keep employment from getting worse...from 1968 to 1982 the s&p declined .4% 67% of that was due to inflation during those years.......$50 Trillion was lost world wide the last three years....15 trillion in the USA...the current stock market has only recovered 3 trillion of that to date.......3 banks that are worthless....citi,wells fargo and capital one....April 10th the dollar will rally up....housing problems in Rust and Sun belts....no jobs in the rust belt.....san diego housing was 14times household income...house prices are 2.4 annual income today...from a peak of 3.4 times 3 years ago...we need to build at least 1.5 million new homes a year...but are building 500,000....plusses...rising corp profits,no inflation......minusses....government involvement in everything,,,,government changing the rules,,,and very slow growth ahead...........new slogan....FREE BANK WITH TOASTER....

Now, I realize this isn't organized and I didn't want to mess with it, as you get the point. One of the things I just love about my dad is his thirst for data and information. He is ALWAYS asking questions and learning. What a great trait. Also there is a lot of wonderful analytical information, which I just enjoy trying to figure out how to move forward from here.

I'm not sure whether we should be laughing or crying with the new slogan: Free Bank with Toaster!

We certainly do have some big challenges today all over the world. I just hope they are not handing out banks at your retail stores when you buy a toaster and do you really want one if they are?

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