Jim Rake

"There's a sucker born every minute."

David Hannum

Have you ever wondered what separates fact from fiction? Is there a difference between fact and opinion? If so, is it simply a matter of personal interpretation?

In the real estate business, we sometimes find that what is advertised may not be exactly what is delivered. In real estate vernacular, that is often referred to as "puffing" or "puffery". According to the 17th edition of the textbook, Real Estate Practice, puffing is defined as "a legal exaggeration of a property's benefits or attractiveness." Apparently, in the sales business, this is an accepted practice! On the other hand, its evil twin, "FRAUD", is characterized as "the intentional misrepresentation of a material fact to harm or take advantage of another person."

So, as a prospective home buyer, how do you decipher the creative verbiage you often encounter when reading property descriptions about homes that interest you? In other words, how do you minimize the "noise" or misinformation? Short of giving the listing agent a dose of Truth Serum, an "eyes on target" approach is probably the best one. After all, nothing replaces an actual walk through of any property that might interest you.

Since many of my buyer clients are PCSing (for you non-Department of Defense types, PCS means permanent change of station, in other words, you're MOVING) from across the country or around the globe, their first look at properties is done via the internet. Come to think of it, that's how most people shop for homes these days!

Their desired home criteria is used in defining their property search, and that criteria is also used to provide them a direct e-mail feed of homes from our area's Multiple Listing Service or System. Unlike other online home databases like Realtor.com, Zillow or Trulia, the MLS feed of homes provides prospective buyers the best and latest (Realtors who have homes listed on the MLS are required to keep the status current) information on properties. Since the MLS e-mail feed is free to the consumer, and the status of viewed homes current, why would those looking for homes use anything else as their reliable source for information on homes for sale?

Many home shoppers have pored over tons of data sources to include magazines, flyers, and various online sources for information. After days and weeks of reading property description after property description, there are times when they probably feel like they're in the Twilight Zone instead of on the road to locating their next home.

Fortunately, there is a light at the end of the tunnel. While it is difficult to know exactly what they're getting, most property descriptions are an accurate depiction of the property being considered. But as I mention to my incoming buyers, while they may get a fairly good idea of the homes and neighborhoods through pictures and property descriptions sent via e-mail, until they get their "boots on the ground" and actually see the properties first hand, they can't be certain that what they're reading is exactly what they'll see upon closer inspection. Once they've actually walked the neighborhoods and properties, it's another story. As they say, "seeing is believing."

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One of the many pleasures of life in Northern Virginia is the opportunity to enjoy the well kept history of the Commonwealth. For U.S. Colonial history buffs, there are more historic sights, sounds, and treats than one could possibly enjoy in a single lifetime. Fortunately for me, my hometown of Fredericksburg offers a multitude of historic must see venues, some of which are worth stopping in more than just a couple of times a year.

Goolrick's Pharmacy is a combination of drug store and Soda Shop. While the convenience of a corner pharmacy isn't lost on its clientele, the front half of the store and its old fashioned soda shop is what draws the tourists and keeps many visitors coming back.

The assorted sandwiches (on toast if you'd like) include an assortment of the salad (egg, chicken & tuna) type, and favorites like the BLT and grilled cheese. Each also includes a side of potato chips and a dill slice. And, while these and the history are reason enough to drop by, many of us can't wait for the supersized milkshakes which are about as good as you'll find. Not only are they twice the size you'll find at your normal malt shop, but are thick and leave you wanting to return again and again to enjoy the flavor.

As a military brat growing up on Air Force bases, much of my free time was spent at Youth Centers, playing basketball, playing ping pong, or shooting pool. One the refreshments that each of the Youth Centers had was the mikshake. So, my addiction to that particular drink came at a very early age, and remains with me to this day. So, as you might imagine, a visit to Goolrick's is never too far out of the way.

But, Goolrick's pharmacy has much more going for it than the the food and friendly service. Not only does it serve as one of Old Town Fredericksburg's most popular places for a bite to eat, it also is rich with history.

Goolrick's Pharmacy was originally established in the late 1800's by William Barber Goolrick. That store was moved to its current location on Caroline Street in the late 1890's. William's son, Keating Nelson Goolrick, installed the store's Soda Fountain in 1912, and serves as the oldest continuously running fountain in the United States. It was also the first to serve this nation's favorite soft drink, Coca Cola, in Fredericksburg.

The Commonwealth of Virginia offers its residents and visitors historical, cultural, and community activities and sites that few other states can rival. So, whether you're visiting or just out enjoying the area's beauty, and you're in the Fredericksburg area, take a few minutes to drive into Old Town and spend a few minutes in Goolrick's. The inviting atmosphere, enjoyable and engaging staff, and the tasty menu won't disappoint you. And, if you love a great milkshake, you may end up spending more time in Old Town than you planned for!

To Continue Reading this Article, Click Here: Shakin' Up the Commonwealth

As a father of three sons, I've been through the "must have" brands a couple of times. You know, the teenager that turns to you, upon opening a Christmas present, and gives you that look, "You expect me to wear that"? In other words, if it isn't a brand name, I ain't wearin' it.

Of course, growing up in a family of five boys with a father who worked two jobs to provide for his family, we were simply happy not having to wear hand-me-downs! However, as we know, times have changed. Besides, as my sons were probably thinking (just as I was at that age), "What does Dad know"?

But, the apparent need to wear brand named clothes brings up a good question, "Do brand names make a difference"? While many are convinced that the brands make them more hip, are those clothes really any better than their non-brand name counterparts? And, what about other items we purchase or services we make use of? Does a popular or well known "name" make a differnce in the quality of the product?

In the real estate business, we have our share of "legacy systems" or brand names that most people recognize, but few have taken the time to carefully research. But, are the "big players" (Century 21, Coldwell Banker, ReMax, etc) any better than their competitors who lack that Brand identity? Do their tools and information do a more effective job of assisting their clients and customers to buy and sell, or market homes? In other words, do they necessarily provide a better service?

Recent surveys have shown that those in the market for homes are looking primarily for home, neighborhood, school and other "local" information when searching for homes. While this information used to take days or weeks to compile, it's now readily accessible in minutes via the internet. In many ways, the web has served as a "force multiplier" or equalizing force for smaller companies in their attempts to compete with better financed and supported national real estate brokerage firms. Does the information they provide, those in the market to buy or sell, different than that provided by brand named firms? Perhaps when all is said and down, it isn't the "company", big or otherwise, that should be the focus of the consumer. After all, as many an agent, and client can tell you, it really boils down to the individual professional doing the work, not who they work for.

Just think, if the internet does level the playing field for agents by providing the resources needed by clients to achieve their objective, isn't the onus on the individual professional to be where the money meets the road? Aren't they the interface with the client? Is it not their interpersonal skills, job knowledge, and judgment the client is dependent upon? Or, is it the brand name of the company the client is putting their faith in?

Choosing a brand name may provide you the security of knowing (well, at least, assuming) what you're signing up for. National brands certainly have the resources to support the needs of the clients they serve. But, where content is king, bigger doesn't necessarily mean better. In my profession, the individual agent is the "pointy end of the sword."

It is the individual agent's expertise and professionalism you'll be relying on to make your home buying, or home marketing venture as smooth and seamless as possible, whether they work in a company of two, or two hundred. The next time you look for a real estate professional to assist you, it may serve you well to consider the words of legendary coach, Pete Carill:

"The strong take from the weak, but the smart take from the strong."

To Continue Reading this Article, Click Here: Are Brand Names Better?

When you're interested in purchasing something, where do you turn for information on the product you're after? Friends? Family? A local store? Well, according to those that study buyers' habits, more and more consumers visit the internet at least once before purchasing an item they're interested in.

Today's home buyers are using the internet more than ever to begin their home search. According to NewCondosOnline, over 80 percent of home buyers use the Internet as a Primary tool in their home search.

So, if that's the case, and you're a provider of data on homes (that means, Realtors), are you providing prospective home buyers & sellers with what they need? If not, why not? Perhaps it's because you've bought into (haven't we all, at one time or another?) one of those "can't miss" get-rich-quick marketing schemes that convinced you, it's all about your image. Well, while there might some truth to the image thing, customers and clients are looking for information on homes, first & foremost.

Surveys have shown that those seeking a home, and using the web for their search, are looking for:

1. Information on homes.

2. Neighborhood information, to include school ratings.

3. Transportation options. In our location, Northern Virginia, commuting options are something almost anyone relocating to this area considers before deciding on their choice of where to live.

4. Community Activities, to include recreational and cultural opportunities for the entire family.

In today's digital world, it's vital that you at least participate in the game. Because, as they say, "if you don't play, you can't win". In other words, if you don't have an online presence, you won't be seen or found. So, if you go to the trouble and expense to market yourself online, just make sure you're "answering the mail." If you're not providing prospective home buyers and sellers with data that assists them in pursuit of their objective, there are plenty of others who are.

To Continue Reading this Article, Click Here: Are You Being Served?

A landmark settlement was reached earlier this week between Florida and Countrywide Financial Corp. The agreement establishes the country's most comprehensive mortgage-modification program, resolving allegations of predatory lending that Florida and ten other states have made against Countrywide. Those states participating in the agreement with Florida are Arizona, California, Connecticut, Illinois, Iowa, Michigan, North Carolina, Ohio, Texas, and Washington.

The agreement calls for Countrywide to provide as much as $8.7 billion in loan relief, assisting some 400,000 borrowers across the country. The program is aimed at borrowers who had secured what are termed as "the most risky loans." Those include adjustable rate mortgages (ARM) that feature what's been characterized as a teaser rate to attract buyers, whose rate then rose significantly after expiration of the teaser.

While this latest agreement between Countrywide Financial Corp. and its borrowers is a step in the right direction, it is merely a first step in attempting to rescue the economy from the mortgage crisis Tsunami. Presidential politics aside, there are miles to go before we right the mortagage mess ship. With projected foreclosure estimates in the millions, much more relief borrower relief is expected, and, according to many of our leaders in Congress, help is on the way. As they say, better late than never.

To Continue Reading this Article, Click Here: That's Why It's Called the Sunshine State