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Cathie Ferdon

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A virtual real estate office works for me!

08-25-09
Cathie Ferdon

After too many years of disappointments, politics and working for someone else, I had an epiphany. I had always dreamed of owning my own business and now seemed to be the perfect time. I started Showcase Homes, LLC in November 07. My plan was to create Michigan's first Virtual Real Estate Office. I had the technology, good connections, a couple of great web sites http://www.Showcase-Homes.net and http://www.CathieFerdon.com, a business plan and the most important feature, no office.

It worked great for a year. I worked from home. I was busy with buyers, sellers and investors. In fact I was too busy. After I had 1 1/2 years under my belt working from home, I thought it might be time to grow my business so I leased a cute little one person office about 15 miles from home. I worked happily out of the office meeting clients, writing offers and paying $350 per month for the lease. My business did grow, in fact it doubled. I bought new printers, office furniture and insurance to protect it all. The problem with this scenario is I am an independent. I have no assistant and no receptionist. I am rarely in my cute little office today because I find it easier to work from home. I start at 6:00 am and work until 9:00 or 10:00 at night. I can work in sweats and no one knows. I answer the phone after 6:00 pm and surprise the caller on the other end or reply to emails inquiring about a listing that needs an answer immediately.

I moved back to my home office 3 days ago. Yes, it is cluttered with all the new stuff but I feel it was and is the right decision for me and my business. I estimated that I would be saving enough money each month that I traded in my SUV with 160,000 miles for another used SUV with 35,000 miles and have enough money left over for gas. Having an office of brick and mortor was a nice experience but in retrospect, I should have kept my original idea, a Virtual Real Estate Office. Who else has similar beginnings and where are you now?

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$8,000 First Time Homebuyer Tax Credit

05-18-09
Cathie Ferdon

If you are a First Time Homebuyer (First Time Homebuyer is defined as not owning a principal residence in the last 3 years) there is alot to be excited about in the Real Estate Market this week!

Just announced by Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, said that the Federal Housing Administration is going to permit its lenders to allow homeowners to use the $8,000 tax credit as a downpayment. This may take a short while to enact but it is definitely worth the wait!

Yes, there are some restrictions with this program, but I think it could be a tremendous motivator for first time buyers to jump off the fence and into a new home. With this program, you must close by December 1, 2009 so let's get shopping for that new home you have always dreamed about but didn't have a down payment to purchase. More to come on this exciting new program.

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