Serving first time home buyers have been one of the highlights of my career. An agent who serves first time home buyers need to be able to fully grasp the emotional roller coaster our clients go through. We handle contracts everyday. We take clients from house-hunting through the closing table. We do this seamlessly and professionally but we forget that our first time home buyer clients take a huge emotional baggage with them. Most of all, we as professionals taken for granted many things we do everyday but our first time home buyer clients don't feel exactly the same way.
Did they do the right thing? What if there is a better house out there? What if this, What if that? That's the role real estate agents play in serving this particular segment of the population: First Time Home Buyers.
Well, if you have forgotten what it "feels" like to be a first time home buyer, please read my client's words below. Our first time home buyer clients are packed with all the emotions when buying a home.
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Recently, I was privileged to work with Tracie Gaston - a wonderful client who was very proactive in her quest to homeownership. I cannot find a better client. With Tracie's permission, she wrote:
Hi Loreena,
As you can see below, if you ask me to write something, it's kind of hard for me to make it brief. I know you asked me to give my testimony that was more directed towards my experience as a new homeowner and not necessarily about you. Well, I'm sorry, I have to share my experience with others. I was so lucky to have found you as a realtor. Otherwise, this experience could've been a very different one. Although this is very long, I really hope you have a place to post it because I really want other people to know what an awesome realtor you are!
At the age of 37, I finally decided to take the leap into home ownership. I had been thinking about purchasing a home for years, but always found a reason not to. I think my reasons or excuses for not purchasing a home stemmed from my fear of the unknown.
I was totally clueless about the home buying process, so I did what most first time home buyers do, I got qualified for my loan and started looking for homes via the internet. I found a house I wanted to see, so not knowing any better, I just contacted the agent who posted the listing. Boy was that a mistake. This particular agent did not listen to me when I explained to her what I was looking for in a home, so she basically wasted both my time and hers by showing me houses that I wasn’t interested in. Not only that, the agent wasn't even familiar with the area I was looking in!
At this point, I was very discouraged. I was searching for homes in the Plano/Frisco area. Almost every time I pulled up a listing, Loreena's name and website popped up (kudos to Loreena on her marketing efforts!). I clicked on Loreena's company website one day and started reading her blogs.
I couldn't believe how much valuable information was on her website. If Loreena had this much information on her website, I knew she'd be perfect for a clueless first time home buyer like myself.
I also appreciated that fact that Loreena was not afraid to mix her God First posts with her real estate posts. I contacted Loreena and set up an appointment to view some properties. When I met Loreena and we viewed houses together, I knew she had to be my agent!
I was impressed by Loreena's knowledge of the area and her sincere and honest approach to her job. I don't know how I knew, but somehow I just knew that she would not steer me wrong. I gave Loreena a list of my requirements for my home. One of which was that I did not want an East/West facing home due to the extreme heat from the Texas sun beaming through windows and the backyard.
To my surprise, the next time we toured homes, Loreena assured me that she had previewed the homes to verify that they were North/South facing since that was one of my requirements. I was so impressed and Loreena continued to impress me throughout my entire home buying experience.Loreena walked me through every step of the process and was in touch with me daily to give me updates.
A couple of my faults that I can admit to are that I'm impatient and I get stressed pretty easily. Loreena kept me grounded and stress free throughout the entire process. I think the thing that really made the experience so great is that I truly trusted Loreena. I felt like she always had my best interest in mind and not just her commission. It's so hard to find people you can trust these days and people who actually care about providing good customer service.
Loreena far exceeded my expectations by providing outstanding customer service. I trusted Loreena from the first day I met her and she proved that my gut feeling was correct. I'm also very happy to say that I not only met an awesome realtor but I gained a friend in the process. Thank you Loreena for making my first home buying experience a very pleasant one! After renting all of these years, I finally feel like I'm truly home.
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Subscribe via Email if you are not an Active Rain member here.
Loreena Yeo
Realtor®/ Broker of 3:16 team REALTY
(214) 783-2210
loreena@loreenayeo.com
Super-serving Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper, Celina, Richardson, Dallas M-Streets, Dallas White Rock Lake area communities and other surrounding areas.
Copyright © 2009 by Loreena Yeo (3:16 team
REALTY)
First Time Home Buyers Go Through a Stressful Time: Be Empathizing
| FEATURE | Jan 1 – November 30, 2009 Rules as enacted February 2009 |
December 1 – April 30, 2010 Rules as enacted November 2009 |
| First-time Buyer – Amount of Credit | $8000 ($4000 married filing separate) | $8000 ($4000 married filing separate) |
| First-time Buyer – Definition for Eligibility | May not have had an interest in a principal residence for 3 years prior to purchase | -Same- |
| Current Homeowner – Amount of Credit | No Provision | $6500 ($3250 married filing separate) |
| Effective Date – Current Owner | No Provision | Date of Enactment |
| Current Homeowner – Definition for Eligibility | No Provision | Must have used the home sold or being sold as a principal residence consecutively for 5 of the previous 8 years |
| Current Homeowner – Home Purchase Price | N/A | There is no provision that the "repeat" homebuyer must purchase a property more expensive than the one sold. Only that the home purchase must be less than $800K. |
| Termination of Credit | Purchases after November 30, 2009.(Becomes April 30, 2010 on Date of Enactment.) | Purchases after April 30, 2010 |
| Binding Contract Rule | None | Written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close |
| Income Limits | $75,000 – single, $150,000 – married, Additional $20,000 phase out | $125,000 – single, $225,000 – married, Additional $20,000 phase out |
| Limitation on Cost of Purchased Home | None | $800,000 |
| Purchase by a Dependent | No Provision | Ineligible |
| Antifraud Rule | None | Purchaser must attach documentation of purchase to tax return |
Purchase by a Dependent
There was no age limitation on the original bill and amended for the November Tax Credit. Taxpayer must be at least 18 years old to qualify for the credit. For married taxpayers, the taxpayer shall be treated as meeting the age requirement if the taxpayer or spouse meets the age requirement.
Repeat Buyers
There is no criteria that home buyers must "move up" in house. Only that they lived in the house for the past 5 out of 8 years as a primary residence. The new purchase price must not exceed $800,000.
Date of Enactment = November 6 2009.
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All contents are original. Consider subscribing to my blog for more real estate commentaries.
Subscribe via Email if you are not an Active Rain member here.
Loreena Yeo
Realtor®/ Broker of 3:16 team REALTY
(214) 783-2210
loreena@loreenayeo.com
Super-serving Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper, Celina, Richardson, Dallas M-Streets, Dallas White Rock Lake area communities and other surrounding areas.
Copyright © 2009 by Loreena Yeo (3:16 team
REALTY)
Originally Posted on
First Time Home Buyer Tax Credit Extension & Expansion
Well, after fighting and hanging on for over 9 months, it (Citibank) finally pulled the plug on a short sale listing I was involved in. This post is not a rant, rather a story to share with buyers and sellers that sometimes, no one wins when the property goes into foreclosure. Worse still, after having multiple offers as well as a very good solid offer waiting for 9 months.
Now that it's behind me, I'm going to take this opportunity to spill out the guts of this transaction. Very sad and most of all, I feel horrible for having a very disappointing client.
I represent the Buyer. We went into contract after the property was on the market for 6 months. When we submitted the offer, the listing agent advised us that her client has stopped making mortgage payments on the house that very month. This was February 2009. Okay, nothing alarming - in my opinion.
The owner of the property was deceased and her mother was the executor of the estate. The mother lives in Illinois while the property was located in Allen, TX. Just the perfect house for my client.
This was a regular sale when we went into contract. We inspected the home and my client worked on getting his loan. There were some property condition issues that came up that had to be a part of the loan approval process. This went on for almost 2 months. Something in my gut feeling told me to stop and wait for the seller's side to sign off on the repairs.
That was when we found out that the loan amount on the property now is more than the sales price. Very quickly, we found ourselves that we were in a "short sale" situation, but not by much.
Before you know it, 1 month has elapsed and the property was slapped on Forced insurance and attorney fees on Citibank's side because they were planning to take the property into foreclosure. This is probably our 3rd month into the transaction. It is mid-April by then.
The Seller's attorney demanded for payoff information - to which he has constantly been getting the run-around. No one at Citibank seems to have a clue who is the Asset Manager or who has authority over this property.
Every month then on, the property would be posted for foreclosure, but every month, the buyer and seller re-signed the amendment to show Citibank that there is a willing, ready and able buyer for this property - who has first not shorted in payoff by too much.
June, July, August, September and October passed. Every month, the same thing. The listing agent, bless her heart, worked so hard on this transaction because we are talking almost every other day. We are like sisters now.
I received a phone call from the Seller's attorney. He said, "Loreena, I'm sorry. The property was sold in foreclosure just this past Tuesday. I'm so sorry. I know how much your client wants this house. We fought so long and so hard but it still didn't work out".
You know, everyone in the transaction was doing the right thing especially for my buyer who patiently waited for 9 months. We knew that the Seller could just turn the keys in, wash her hands and walk away since it was her deceased daughter's estate. The mother made many months of mortgage payments until she decided
she couldn't do it anymore. She kept utilities on and did everything a proud mother would.
I had to be the deliverer of the bad news. I hate that. But my client is taking this news well. We know it happened for a reason.
I don't want to begin my posts on Short Sale in a negative tone. But it's been on my heart that I want to share it. I didn't like the fact that it didn't have to be this way for both the Buyer and Seller. My buyer waited 9 months for the property. The seller wanted to clear her daughter's estate with a good name even though there was no equity. Everyone was doing the right thing except - you guessed it. Citibank!
I believe big banks like Citibanks can be huge and very inefficient. And here we are wasting our tax dollars to fund stupidity and inefficiency that didn't need to happen. I'm sorry. I'm going to say it one time.
This is bull crap #$&*$$^&*TRR^*((**
BOO Citibank!
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All contents are original. Consider subscribing to my blog for more real estate commentaries.
Subscribe via Email if you are not an Active Rain member here.
Loreena Yeo
Realtor®/ Broker of 3:16 team REALTY
(214) 783-2210
loreena@loreenayeo.com
Super-serving Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper, Celina, Richardson, Dallas M-Streets, Dallas White Rock Lake area communities and other surrounding areas.
Copyright © 2009 by Loreena Yeo (3:16 team REALTY)
Short Sale Done ABSOLUTELY Wrong
I've worked with many lenders over the years, serving my real estate clients. I thought I would share three simple tips on how to outperform your lender competitors out there just by doing these 3 things, and doing them well:
(1) Read the contract in its ENTIRETY
I am surprised MANY DON'T read the CONTRACTs. I am not sure what they do with them since they want a copy of the executed contract 
anyways. If it's in your hands, at least go through it once. Be proactive about your business. More often than not, I receive emails asking this, or that ..... and I realized that if they had just picked up the contract to read, they wouldn't have to ask. It's one thing to ask for confirmation, but it's another to ask as if you didn't know.
I don't know what is required of a Lender in Mortgage school here in Texas - if they are required to learn to read contracts or know what they mean. To outperform your Lender competitors, study that darn thing and learn it well. I, for one will be impressed because many don't.
Critical dates on contracts mean ALOT to the clients we serve. Our clients may not know a difference between 10 days of Buyer Third Party Addendum versus 30 days, but that's why they count on us.
Lenders can/ should take part in ensuring that we make note of critical dates (especially those concerning the Lending part of the transaction). Now, that's a real keeper if you are a Lender that can impress me with a Critical Date sheet you have set for yourself and share it with me. We can cross check ours.
If you are an out-of-state Lender but still want to do business in different states with different contracts, please learn ALL of them.
(2) Communicate often, better yet ... before Status Updates are expected
Most of the time, lenders that I built relationships with are usually quick to respond when I ask for a status update. If you want to know how to win a heart of a Type-A personality Realtor(R), learn to give updates before they are expected. Remember that Type-A personalities are already usually on top of things, but if you can impress your Realtor(R) by striking first, you are more a reason to be a "keeper". It shows that you are on top of things.
For whatever reason, lenders that I usually have not built a business relationship prior to a transaction with are usually not great in delivering quick and acceptable communication. There will be a week when time have passed and I have not heard from the Lender. And when I send an email for a quick update, it usually takes half a day for a response. Nope. Won't work for a Realtor(R)
.
Some Realtors(R) like me do NOT believe in the "No News is Good News" philosophy.
(3) Deliver a Smooth Closing
As much as a client may negotiate for less fees and lower interest rates, all they really want at the end is a SMOOTH closing. As a Realtor(R), I prepare my clients for stress, closing extensions, etc. to help curb the stressful and emotional situation. As a Lender, you can do that too. No one in the transaction knows it sooner than you (Lender) do, so be upfront and whenever possible, give ample warning.
It's easier to break it slowly and as you know it, rather than to have already known this problem for a week, and now just sharing the possibility of the loan not closing on target 2 days before it's suppose to happen. By then, no one is happy.
One thing I realize... if you have outperform expectations of your favorite Realtor(R), you don't need to ask for more business. It will naturally come to you because you earned the RIGHT for MORE BUSINESS. You've showed how you can perform and there is no reason NOT to use you again. We all want the same thing. As a Realtor(R), I want to set myself with a successful winning team. If you are the jewel Lender, of course you've booked your seat on the bus for the next ride.
But if you never communicated effectively, you need me to explain the contract to you and you fail to share information about closing not happening as intended, and the last sentence out of your mouth is for more business... Sure, just wait.
An awesome Lender is a true treasure in a successful real estate transaction. Be one!
Now, if you plan to do this well, you do not need other marketing plans to help grow your Realtor(R)s' businesses. You work well in yours, it naturally abundantly flows out to others.
PS: I've been offered by many lenders in the past to help me with marketing expenses, website domains, call captures, etc. All of that are fine and definitely very much appreciated in helping me offset my expenses, but if you cannot do your primary responsibilities well, I really cant help you much. In return, I can't accept your goodwill also.
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All contents are original. Consider subscribing to my blog for more real estate commentaries.
Subscribe via Email if you are not an Active Rain member here.
Loreena Yeo
Realtor®/ Broker of 3:16 team REALTY
(214) 783-2210
loreena@loreenayeo.com
Super-serving Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper, Celina, Richardson, Dallas M-Streets, Dallas White Rock Lake area communities and other surrounding areas.
Copyright © 2009 by Loreena Yeo (3:16 team REALTY)
How to Be a Better Lender to Your Realtor(R)
Homeownership is a privilege, not an entitlement simply because it's time to own rather than rent. While I know I will step on some toes, I want to fully disclose that I do know that bad things can happen to good, honest, hardworking people. I know that a lawsuit, a divorce, a job loss, a medical debt, a bankruptcy, a foreclosure can take down a financial empire. That's not what I mean. But I have also known people who has been irresponsible with finances. Those who simply want to walk away.
In my previous post, Renting feels like it's Borrowing, I shared a client's own words on how he felt about transitioning into homeownership and how much more he feels is enriched because he is in his own place now. When he was renting, it felt as if "he didn't belong there" and as if "he was only borrowing".
Renting is not a sin. Renting may be the answer for some people in some circumstances, whether it is a temporary place to figure out the next step, a temporary spot for financial clean up or even a season in life where you didn't want a homeownership commitment. All those reasons and more are absolutely totally acceptable so as long as renting is not the way of life on a long-term basis.
Homeownership should be rewarded for those who can show high financial responsibility. Hence, no late payments and no blemishes on credit worthiness. Homeownership should be treated as if it's a privilege - a special favor for those who are deserving.
When banks have to seize properties back in foreclosure, no one wins. The bank losses, the homeowner losses and even the neighbors hurt in property values when massive foreclosures occur in neighborhoods.
Related Articles:
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All contents are original. Consider subscribing to my blog for more real estate commentaries.
Subscribe via Email if you are not an Active Rain member here.
Loreena Yeo
Realtor®/ Broker of 3:16 team REALTY
(214) 783-2210
loreena@loreenayeo.com
Super-serving Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper, Celina, Richardson, Dallas M-Streets, Dallas White Rock Lake area communities and other surrounding areas.
Copyright © 2009 by Loreena Yeo (3:16 team REALTY)
Originally Posted on Homeownership is a Privilege
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Cant you tell - I love what I do! I am the catalyst to enrich the quality of lives of individuals I serve, that otherwise without my presence would not, or could not do. I work on some serious stuff
The areas that I serve are the north sububs of the Dallas metroplex, (but not limited to) include Frisco, Plano, Little Elm, McKinney, Allen, Richardson, North Dallas, East Dallas, Dallas M-Streets, Dallas White Rock Lake Areas, The Colony, Celina, Prosper, Flower Mound, Lewisville, Denton, Carrollton, Farmers Branch, Irving, Valley Ranch, Coppell, Las Colinas, Arlington and Mansfield.
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Guide to home buying, new construction, foreclosures here.
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********** PROPERTY WATCH ALERT **********
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Well, I do feel that there is no need to talk about how proficient in real estate I think I am or even how I great I think I am as a real estate agent. I want to let my past clients speak for me. Better yet, I want to let YOU decide for yourself what I am.
I'd like to share with you practical examples of what you can expect that I can bring to the table during your real estate transaction. My years of experience in the business include:
NEW HOME CONSTRUCTION - Many buyers do not feel that there is a necessity in working with a real estate agent that is on "their side" to look out for their best interest when dealing with home builders. There are more benefits, if you find a proficient agent to work with. I can help set your expectations and assist you in ensuring the home building process go smoothly. Since the Frisco, McKinney, Allen, Little Elm, Prosper and Celina TX real estate markets are booming with new home construction, you might want to consider working with an agent who understands this entirely different beast. Also, with the builders facing the down turn of the economy (and some up to foreclosures), it is important to have a seasoned agent to walk you through this emotional process. Read also, The Value Your Agent Can Bring To Your New Home Construction Process.
NEGOTIATION - My experience with sales and negotiation began at a tender age of 12. By 15, I was making enough commission to stock away for my college education. I am experienced with the emotional process about negotiations. What I always strive to do though is to find a win-win situation for all parties involved. Ultimately, I understand that Sellers want to sell and Buyers want to buy. There is always more to negotiate than to price. Every transaction is different and should be handled uniquely. Read also, Negotiating Across Cultures to see how my negotiation experience can assist in your transaction should it be required.
MULTIPLE OFFER SITUATIONS - Yes, it still happens in this Buyer's market here in the greater Dallas real estate market. You need a seasoned agent who is not afraid to go beyond the "regular" presentation of offers, one who will work very hard to help you win your contracts. Experienced in both buying and selling for multiple offer situations. If you want to know how well the greater Dallas TX real estate market place is doing despite what prime time news tell you, please read also, You Say The Market Is Down, I Say Multiple Offers.
SELLER REPRESENTATION -To date, I have sold every house I have listed except for three. The first, my own which my family and I decided to turn it a rental property instead. Second, the seller who was accepted to enter an education program here in the area decided that she did not need to move. Last, is a seller who is sick and can no longer able to conveniently show her house decided to take the property off the market. My selling record include 1-day on the market, 10 days on the market to many of them between 2-3 weeks despite what the media says it is doing. To further clarify, my seller clients did not feel that I gave their house away. With the credit crunch like we are facing today, a seasoned real estate agent who is also very aware about the mortgage side of the transaction is key to correctly picking out and/or interviewing the right buyer. It is your best interest to keep this sale transaction as full-proof as possible and I can help here. Ask me about my systematic market approach that most real estate don't use. This carefully-orchestrated home and marketing strategy WILL send you on your way to the closing table. A short summary of my success is in the table (For more details, contact me directly):
11914 Jereme Trail, Frisco TX 75035 (Plantation Resort)
1104 Ainsworth Dr, Anna TX 75409 (West Crossings)
4177 Republic Dr, Frisco TX 75035 (Heritage Lakes)
8906 Bretshire Dr, Dallas TX 75228 (East Dallas)
3rd and final Realtor® on the job.
Hilda Roznovsky
"For 2 long years I tried to sell my house without any success. Loreena sold fast and at a very fair price. If you are in her hand, you're in THE HANDS."
THIS SPACE RESERVED FOR YOUR HOME
Systematic Market Approach™ is a powerful advantage over your competition. It is also a marketing strategy that most Realtors ® do not use. It employs a combination of several proven techniques to effectively and successfully sell homes. The Systematic Market Approach™ is my unique proposal to sell your home and ultimately, to help you move onto the next chapter of your life. It is more than just a real estate sign in the yard, lock boxes, MLS exposure and the other normal stuff all real estate agents in town use.
The Systematic Market Approach™ consists of:
· A Complete Recommended List for Home Preparation including Staging. In order to obtain the results you want in the time frame satisfactory to you, staging is a requirement with the listing. I have a solid track record to prove this. Just ask!
· Lifestyle Marketing. Every home has a story and every home should be presented uniquely because of it. There is no cookie-cutter marketing plan in the Systematic Market Approach™. You ought to find out how lifestyle marketing will set you apart.
· Pricing. I perform a detailed comparison market analysis to obtain a suggested price range of which your property should sell for. This is an in depth market analysis that takes real research. It takes into consideration the available inventory on the market, pending contracts as well as sold market data. It compares features by features. At the end of the analysis, you will have a fairly accurate suggested price. · Web Exposure. I believe that the web is the most powerful marketing tool. Though chances are high that your home will be sold to a buyer who has a real estate agent representation, most buyers begin their search for their homes long before they work with an agent. Giving your listing the maximum exposure it deserves.
Your home deserves the best marketing plan with an unconditional guarantee. Let’s discuss this in further details at our listing appointment.
I want to point to you some special highlights of Seller blogs I had written in the past:
Secrets to Selling in 30 days
Seller's Myths: Try this first and I can always lower it later
Sellers Fail To See
The First 3 weeks May Be The Lifeline of Your Sale
To submit a no-obligation market analysis of your greater Dallas Frisco, TX property, please visit Value My Dallas Frisco Home.
BUYER REPRESENTATION - Understanding what you want and where to look is key to saving you time, energy and money when buying real estate. I primarily work in the Frisco, Dallas, Richardson, McKinney, Allen, Prosper, Celina, Little Elm, The Colony (the northern suburbs of the greater Dallas metroplex) although my vast real estate experiences also include Flower Mound, Coppell, Irving, Las Colinas, Valley Ranch, Dallas M-Streets, Dallas White Rock Lake, Arlington, etc. Here are a few blogs that I shared about issues that every buyer considers while making an offer to purchase:
More Than Price per Square Foot
Myths about Tax Assessments versus Market Values
Move Up Buyers Take Advantage of the Market Situation
For access to ALL available properties for sale in the Dallas metroplex, please visit my website. Or better yet, set up a no-obligation, no follow-up phone call (unless you make the first contact) profile and your home search criteria. When the criterias meet your needs, you will receive an email alert with full property information. Create your Sign-In now.
FIRST TIME HOME BUYERS - I have served many, many first time home buyers during my career. Many of them need clear understanding as to what they are doing and what to expect in home ownership. Depending on how much each client understands about the home buying process and the responsibilities of homeownership, I counsel each client uniquely to his/her situation. I wrote several blogs about Homeownership, many of which are geared towards first-time home buyers. Let me caution you first that some are controversial but ALL of them are down-to-earth advice coming from the heart of a financially-savvy real estate agent ie. me. You might find these articles interesting:
Down-To-Earth Home Buying Tips
The Real Hard Truth about Homeownership
The True Cost of Homeownership
Home Purchase as a Forced Savings
Is Home Ownership on Your Horizon?
Unconventional Advice for Newly Weds
RELOCATION - The greater Dallas metroplex remains one of the most best value places to live in the country. In addition, the standard of living is very affordable and in line with inflation. I serve many relocation clients that come from the East, West and other large metropolitan cities around the country. Real estate expectations (what you can get for your money) are not the same. Relocation buyers have different needs. Also, they might need to make a decision quickly. Hence, working with an agent who know the area like the back of her hands is important. In addition, my quick skill of knowing what each client is looking for in a house helps make this transition into the greater Dallas area a pleasant and peaceful one. Read also, What Can You Get For Your Money.
FORECLOSURE & SHORT SALES - I serve a large number of buyer representations for foreclosure or short sales properties in this area. Though this process is very similar to the "regular" buying process, it is not completely the same. There are many more documents and paperwork to sign thus it can be confusing to a home buyer who has not have too many experiences with purchasing these type properties. My duties also include setting expectations so that buyers of foreclosure or short sale properties may understand the type of transaction they will go through. Understand that not all foreclosure or short sale properties is the answer of a best real estate deal out there.
Read also, In Search of a Foreclosure Deal.
Business Decisions of Short Sales & Foreclosures Create Artificial Real Estate Market Values
PROFICIENT IN UNDERSTANDING REAL ESTATE CONTRACTS - It is important to work with a real estate agent who knows in "ins" and "outs" of a real estate contract. I am a real estate broker who has undergone vigorous training and education to understand real estate contracts and the correct "to-dos" in real estate transactions. I also align myself with experienced real estate attorneys and other real estate brokers that will be able to assist when necessary. Proficiency is a honed skill that not every agent possess. It takes time, years of training and experience plus education to achieve.
BULLETPROOF TRANSACTIONS - Once you have an executed contract to purchase or sell (depending on which side you are on), it still does not mean that you will close and fund on the property. There are many parts to the puzzle before you can reach your ultimate destination. This is where a seasoned real estate agent's experience, systems, checks and balances are worth. When you interview an agent, ask to see the systems, checklists and organization in adequately handling the closing process. Your "Bulletproofing" your transaction is by selecting an agent who is ready to close on the property from Day Zero.
REAL ESTATE INVESTMENTS - If you purchase real estate investments as an alternative solution to your retirement or diversified investments, I'd like to extend my expertise to you and to tap into my real "investor" knowledge. Personally a landlord myself, I understand the concept of minimizing risks while maximizing profits. Due to my analytical background as a structural engineer, analyzing the investment potential of a property is what I am naturally good at. As much as I can identify a profitable real estate investment versus not, I will also guide you through the process of "readiness" and if you are adequately ready for real estate investments. I have developed my very own network of honest contractors and other service providers that earned myself a position as a valuable resource in the investor community.
If this is not sufficient to know if I am the right agent for your real estate transaction, find out more about me on a personal level here. Learn more About Me and My Company, 3:16 team REALTY.
Note: All contents are original. Consider subscribing to my blog for fresh business ideas, often creative and unique. It is my intentions to bring you effective blog contents that will could make you feel that it was worth your time to subscribe.
VALUE-Focused, NEGOTIATION-Focused, RESOURCE-Focused, RESULTS-Focused.
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Home Buying Tips | Home Selling Tips | Homeownership Tips |
Todd Lehmann
"We needed to sell our house first, before we could purchase another. Tough task in this current housing market. And even in a Buyers market, both are a challenge. All I can say is, WoW! You far exceeded our expectations on both. Your dedication, knowledge, patience and professionalism is second to none. During the time when we were working with you, you were blessed with a new baby. Honestly, I was thrilled for and your husband, but a little concerned you may not be able to maintain your top notch performance in this highly completive housing market. Well, my concerns quickly faded as I realized, you had more energy than I did! While never compromising the health of your baby, you were always accessible, even if that meant talking to us from your hospital room. We joked all along about signing contracts right up until delivery and well, we did! You are truly committed to your clients. We got a fair price for the sell and found the "perfect" home for our family. You went above and beyond in my book. THANK YOU!!!! The happy memories we make in our new home will always include you and your family!"
"Loreena, you were so helpful in your advice on how to prepare and stage our home. We never dreamed it would sell the first weekend! How can we thank you enough! You're wonderful. You under-promised and over-delivered! You did what you said you would do and then, went beyond. You were out of the country our first week but we could still reach you daily. Thank you!"
Tom & Debbie Milner
Before the tech-sector crash in 2000, I was living in Plano. As you know, this area went from very affluent to on of the biggest foreclosure areas in the US. Fortunately, I survived it. Later, but while the affects of the crash were still very real I needed to move. I had contacted several realtors and several made less than a half-hearted effort to do anything except try to get exclusivity. This is when I found out that Loreena was doing real estate, so I contacted her and made an appointment.
When she arrived for our appointment, we went through the normal preliminary procedures and all was fine. Then she surprised us. She had already done most of the work and only needed to take a few pictures of the inside and determine the price that we would be comfortable asking. She also spent a great deal of time explaining to us how the whole sales process work and what we could expect. All was correct and explained to us in a way that was very pleasant, easy to understand with time for questions and with no condescension at all We were so impressed that we offered exclusivity.
About a week later, we moved to the east coast and left her in charge of the house. She made sure that all was being taken care of as we had arranged, with contractors. Then she went to work and very soon afterwards she had a buyer for us with many possibilities in their favor she was able to keep them interested in our house and they passes on all of the others. Their realtor was well seasoned and strong willed, but she held her ground and delivered a good price, and a painless sale. If you ask me, there is no better realtor than Loreena, because she puts her heart into the sale of the property and you can sense it and her sincerity.
Eric & Tomoko Yoshiyama-Quere
"Loreena is a highly educated Real Estate Broker in Frisco, TX. She ensures her clients are well represented and well informed throughout the Real Estate transaction. Loreena's has great enthusiasm and passion for Real Estate. If you are looking for a home to buy or sell in the surrounding area, I strongly recommend Loreena Yeo."
John Cannata
Contact me directly for more references.
My goals here on Active Rain are two-folds. The first and foremost is to serve my real estate clients and consumers by providing high quality and relevant local content, especially for the North Texas, greater Frisco & Dallas real estate markets. My other goal is to serve other real estate professionals in my area as well as those here on Active Rain.
I have spent some time here as an ardent and dedicated blogger. Once a while, I share some tips and tricks to enhance the blogging experience here. You can read more of my Dedicated Active Rain Tips and Tricks here. Blogging Active Rain.
I also have a heart to educate real estate rookies here on Active Rain. I remembered what it was like to be a rookie. There are many blogs that I wrote to share my rookie year experiences with you. You may read them here. I will be adding more soon. Check them out when you have time. Rookie Real Estate. (I need to spend some time this Winter to work on some Active Rain house-keeping).
Other realtor success tips here.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
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