One of our team members wrote me in frustration today, not because today was unusual or what she experienced was unique in any way, but rather because she just needed to vent.
Here's just one of the examples she provided in her email:
I was about to call on this one, when I read:
Short sale price, terms, & commission subject to lender approval. Commission to be split 50/50. No agent calls please-send offers to XXX. Agents - Use your MLS tools to answer questions. Too many calls to take all of your calls.
What the (censored)? Am I in 2nd grade or what?? What is "use your mls tools to answer questions" supposed to mean? ... Damn it, if you're too busy or too lazy, get an assistant or stop taking so many listings.
I don't know about you ... but we run into this everyday, too. I cannot tell you how many times the MLS or agents insist that their "listings are updated daily - do not call us", so we showed the property, wrote an offer ... just to find out that was already in escrow ... or "just went in". Either way, some other poor agent just pulled up your "active" listing, drove his client out at $4 a gallon to write an offer to hear the same thing in a few hours.
I agree with our partner, if you're too busy to handle a 30 second agent call, get an assistant or don't take the listing. I wonder if these agents promote their "no call, use the computer" marketing and realtor networking strategy in their listing presentations? Nah, I don't think so.
Of course now, we call on these listing first and deal with the rudeness we often get from agents who are just too busy for our inquiry. "Didn't you read the MLS", they almost shout! Oh well - get over it. You could have been polite, answered my question and been off the phone by now. Until the communication system is perfect, I'd rather waste 30 seconds of your time, then hours of my client's time.
The Real Estate Formula For Success
Todd and I are often asked whether we believe it's a good time to buy or sell real estate. While I believe there are good times to sell, as a rule - here is our ULTIMATE Real Estate Formula for Success:
Step 1 - Afford
Frankly folks, we wouldn't be in this mess if people followed Step 1. Don't buy anything you can't afford! When people buy what they can afford, an amazing thing happens - people don't have to worry about temporary or even longterm market declines. Because the payments are affordable, people who buy what they can afford can continue to make the payments even when the market shifts.
Step 2 - Buy
Buy the best property for your money. Do your research. Work with the best REALTOR in your area. Remember that you can always upgrade a house, but you can never change it's location or view.
Step 3 - Hold
There are exceptions (not many), but as a RULE - we recommend NOT selling. The worst financial decisions I have ever made concerned selling property. Keep it, take care of it and save for another one.
Step 4 - Repeat
Again, get with a great REALTOR and CPA and figure out what type of property you can afford next. Usually this involves a financial projection based on rents, tax breaks, expenses, etc. There is a fortune to be made by investing correctly in Real Estate.
Good success ,
Nancy Moeller, Broker Associate, CPA, REALTOR
RE/MAX Real Estate Service
The OC Experts, Inc.
Direct: 714 404-9540
Visit Us Online:
Orange County Bank Deals
For people just starting their search for a new home or investment property, looking at bank owned foreclosures is a great place to start.
Banks tend to price their properties aggressively, often below current market value, to attract the attention of buyers currently in the market.
With over 15,000 properties on the market in Orange County, finding these possible "diamonds in the crowd" may be difficult.
If you are a buyer interested in receiving exclusive access to bank owned properties in Orange County that match your personal criteria, visit http://www.ocbankdeals.com/ to register. Registration takes less than 2 minutes and is absolutely FREE.
Within 24 hours, you will receive a link to your personal Real Estate Web Page where you can view new bank owned listings, classify listings by "favorites, possibilities and rejects". Plus if there is a price reduction, you'll be notified. You can even expand your search to include other properties on our "Value List" that may not be bank owned, but appear to be aggressively priced or distressed in some way.
We hope you enjoy the service,
Nancy Moeller, Broker Associate, CPA, REALTOR
RE/MAX Real Estate Service
The OC Experts, Inc.
Direct: 714 404-9540
Visit Us Online:
http://www.ocmarketupdate.com/
Welcome Micki O'Toole
The OC Experts proudly welcomes Micki O'Toole to our Experts Team. Micki brings years of industry experience as a mortgage advisor and buyer advocate. As a valued partner, Micki will be serving Riverside and Orange County, specializing in foreclosure property and buyer transactions.
Micki often says she has the best job in the world because she gets to educate her clients and help them make the right decisions for their family. It's rare to meet someone with her unwavering degree of integrity, vast knowledge and keen insight into the real estate market.
When she's not working with her clients, Micki enjoys walking, reading, traveling, listening to U2 and spending time with her beautiful daughter, Madison.
Welcome Micki and thank you for adding such tremendous value to our team and family.
Nancy Moeller, Broker Associate, CPA, REALTOR
RE/MAX Real Estate Service
The OC Experts, Inc.
Direct: 714 276-7006
Visit Us Online:
Orange County Real Estate
http://www.ocmanagers.com/ (Property Management)
http://www.ocmarketupdate.com/ (Updated Every 2 Weeks)
Nationwide Services
"No way!" is the answer I hear from 90% of the people I ask. The other 10% wisely answer that it depends on their interest rate. Here's a simple example.
$500,000 mortgage with a 5.5% fixed rate for 30 years = $2,839 monthly payment
Let's say prices drop 10%, BUT interest rates go up just 1% ...
$450,000 mortgage with a 6.5% fixed rate for 30 years = $2,844 monthly payment
In other words, the mortgage payment is essentially the same with a 10% price decline coupled with a 1% interest rate increase.
So if you are still sitting on the fence, hoping to perfectly time the market, you may want to consider that NOW is the PERFECT time because the moment the general public agrees with you ...
I don't know about you, but I'd rather buy when ...
The fact remains, we will not know when the PERFECT time WAS until the PERFECT time has PASSED. Don't miss out ... it's time to hop off the fence before everyone else.
Nancy Moeller, Broker Associate, CPA, REALTOR
RE/MAX Real Estate Service
The OC Experts, Inc.
Direct: 714 276-7006
Visit Us Online:
Orange County Real Estate
www.OCManagers.com (Property Management)
www.OCMarketUpdate.com (Updated Every 2 Weeks)
Nationwide Services
As a CPA, REALTOR® and financial expert, I focus on protecting our clients financial interests in the sale.
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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