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Uzi Husain

Pandora...

02-17-10
Uzi Husain

I watched Avatar and loved every minute of it but I couldn't help feel guilty. When the forest was being bull dozed I let my mind wander and satiate at the thought of the remarkable potential of real estate development. I salivated at the thought of cha-ching! Avatar makes you think. Well, I suppose if you have a moral fibre left in your soul it does. It makes you think about imperialism, about the environment, about happiness and most of all about diversity. Mr. Cameron, it's a remarkble film and I enjoyed every minute of my 3D IMAX experience and didn't resent paying 14 dollars for an adult ticket. My only remorse, why I'm not a blue Navi with a tail on Pandora selling real estate now. Why, because here on Earth it's gotten pretty rotten because of greedy Wall Street executives & moronic self centered policy makers to sell real estate in my distressed market and I need a new frontier - Mr. Branson, is space travelling an affordable reality yet?

The rocks and the roses: The pain & reward of working with out of state & international buyers & a little technology

01-07-10
Uzi Husain

One of the truly enjoyable and fulfilling aspects of being a REALTOR(R) is helping people. Now I know you've heard that before in a variety of ways from all types of professionals but in my opinion it truly is fundamental to being successful and rewarding not just in Real Estate but any profession.


It seems lately I have been tasked with a few "find the needle in the haystack" scenarios from my clients. I wanted to illustrate one of those examples today. I've been working with an international buyer who's many thousands of miles away and there's an eleven hour time difference. As if that wasn't enough for most to take on, my buyer initially had a very broad sense of what he was looking for. "Just get me a killer deal, something in the low $50.00/sq ft & in excelling school district etc. etc." Essentially the equivalent of, I want the Rolls Royce but I want to pay the price of a Honda Accord. Now I'm all up for the challenge of a good buy but as it turns out so is the rest of the world.

This is where experience pays off. I'm going to leave out the mundane details but suffice it to say I had to pull all my strengths together and help the buyer narrow his criteria so that we could really zero in on this crazy market where short sales, lender/bank owned REO's, multiple offers and auctions run the gamut. It took time but essentially we got there. Patience I should say is also needed here along with experience when working with out of the norm challenges.

Let's fast forward to how we actually got under contract finally! This is where technology rocks! After zero-ing on location, type of house, and all the other necessary components we used early MLS alerts, I put the word out with my colleagues etc. had contracts pre-sent in PDF to my clients so they could sign and send back to me ASAP via email, web conferencing etc. we found a short sale home that my clients really liked. I got there within an hour of it going on the market. Previewed the home, gave my clients a call (long distance int'l on my cell, ouch) checked with the agent and there were no offers. It was tasting good already.

By the time I made the trek back to the office my clients had already signed the offer and sent it back to me. Before making one more call to the listing agent to let him know I'm sending the offer I got back on the MLS to check tax records (something I always do but neglected to do first before heading out to the property in the rush of getting there asap) - a - ha - it's slated to go on auction in 3 weeks and the listing agent neglected to point that out, didn't even bring it up when I questioned him on he handles his shortsales, his experience, etc. etc. with the bank yara yara yara. Hello??? Do you think that might be a material fact! Oh well, I'll take the blame on this one, I shouldn't have jumped out of my seat and log an extra 30miles to my car without checking the tax records first. I know better. Heck, I do it all the time. No worries. I call the agent, I said "hey, so how confident do you feel that an offer will help at this point, do you think the bank will postpone the auction date and let the short sale go thru, do you think you can do it, have you had any conversations with them about it"....

Let's continue to house no. 2 - yep, the above scenario has been repeated a few times. Not the part of my not checking the tax records, but the fact that while I may have spotted a home, tried to get there before anyone else so that my clients get the immediate feedback and decide if they want to put in an offer (remember there's a huge time difference) and hopefully get theirs accepted before the multitude of others that are heading that way. (Side note: in my market anything under 300k gets multiple offers - regardless of condition)

Finally! And maybe it's just the Holidays that did it. Earlier this week my clients called me as they were excited about a home they found online. I pulled it up on the MLS (online sites sometimes show homes listed as active but in the MLS they may show Active with contingency which typically means there is an offer already but that does not reflect on the online sites like Trulia or Zillow) and it actually really showed active. I was stunned. Days on market were under 30, I was thinking cynically oh darn, the agent or her staff may have been on vacation and probably didn't update the status. I got voicemail, left a message, an hour goes by and I get a call back, the house is available no offers! Now I jumped out of my seat, headed over there but this time with my handy dandy sony video camera.

It was about 11pm at night for my clients but I know them well enough to call them and they won't mind. I walk into the house and it's lovely. I capture it all on video, and even before I've left the property I've already uploaded it to youtube, called my clients and now they've just seen the property as if they were there with me. LOOOOOOOOOOOVE technology!

The end result - the Gods were smiling, the Angels on our side, everything was lined up perfectly, luck was on our side, the roses were blooming, the sun was shining. You get the metaphor and the picture, we're under contract! We still have a long way to go before this is a "closed deal" and before I've made even a penny on it but I feel fulfilled. I've found a way to finally get something this challenging executed and help out a family heading back home before fall. 2010 what else you got for me?

Energy audits and inspections...is it coming down the road?

07-18-09
Uzi Husain

Energy is high on the Obama administrations list of "To Do's" & so is this just another step towards incorporating energy inspections as part of the home inspection process to buy and sell a home. There are a lot of rebates being offered for green initiatives for conscientious home owners this year (see your tax advisor for more info on that) as well. This is an interesting article, I've shared the link below. Meanwhile if you want to know more about conducting an energy audit for your home at least here in AZ, drop me a line.


http://www.nytimes.com/2009/07/18/business/energy-environment/18codes.html

All the best!

Our Legacy & Independence Day

07-04-09
Uzi Husain

Happy Fourth everyone! 233 remarkable years. The story of America still is young and just as her legacy will include both joy and sadness it inspires me to think of how the years will recap not only our own personal legacies but that of our profession. In the interest of brevity I'll avoid a lengthy essay but suffice it to say that while the history of what has come to become a "REALTOR" has indeed faced challenges for mere survival, I think it's a fair assessment to say that for every horror story we hear about our colleagues (unfortunately) there are at least 10 stories of satisfaction. REALTORs make great neighbors, community members, philanthropists, business people and friends. I'm proud to wear my REALTOR badge and grateful to be part of a profession that is so entrenched in the very fabric of America and in her greatness. Make it a safe one everyone!

Uzi Husain