Richard Barbee

No one is perfect. It is both trite and true. A more meaningful examination of human nature includes an examination of behavior patterns, tendencies of thought / cognition, personality features, and more. Most people that I have known are willing to do the right thing when it's easy or when they want something. However, the honesty meter seems to slide down when things are tough.

Abraham Lincoln noted, "A tree is best measured when it is fallen." His point was that character becomes evident when we face extreme challenges and are down. Another leader said, "Character is not made during hard times, it is revealed." Our nature is revealed by our behavior. Our thoughts and behavior are influenced by external and internal circumstances and processes.

For instance, most of us would say that it is wrong to steal. It's even in the 10 Commandments, right? However, if you are hungry (or if your child is hungry), do we maintain the perfect standard on this issue? Would we die rather than steal? Most of us believe that death by hunger is a bigger wrong than stealing. But, when does that change happen?

In a time when buyers and sellers are scarce, money becomes scarce. When money is scarce, fear abounds. It is now when ethics are in danger. Some that would do the right thing in good times may not feel the same way in bad times. To whom is this blog directed?

I am speaking to those that want to believe well of themselves and yet feel conflicted at times. If you are near the line between highly ethical behavior and compromised ethical behavior, take heart. It means that you actually do have values. If you have chosen badly in recent days, you do not have to repeat that fall.

If you have tainted your self-perception with an unethical decision, there is nothing forcing you to continue down that road. Some of the best people are those that messed up really bad, came to their senses, and lived a redeemed lifestyle. The prodigal son, Charles Colson, Alice Cooper, Betty Ford, and countless others made big mistakes. They realized their error and began making better decisions.

One mistake does not condemn you to a stained life. Your business can become known as a force for good. Be encouraged. Your past cannot determine your future, unless you allow it.

In our homes, we refer to Spring Cleaning as the weather turns warmer, the flowers begin to blossom, and the real estate market begins to kick into high gear.

But, in our industry, we are heading into the "Dead Zone", the off season. May I suggest we use November and December as a time for "Winter Cleaning" for our businesses.

Here are some questions to keep you busy for these two months.

1. Do you have a written plan for your 2009 business activity?

2. Are your files organized and clean?

3. Have you written some marekting material / articles for publication?

4. Do you have all classes and hours for your CRS, GRI, ABR, SRES, or whatever?

5. Have you ordered marketing materials for 2009?

6. Is your database updated?

7. Have you read at least 3 real estate books this year?

8. Have you read thoroughly the professional journals and magazines that offer such helpful advice?

9. Have you updated and refined your listing presentation?

10. Have you put together a written budget for your business?

There is no excuse for boredom in real estate, especialy now. We ALWAYS have something to do, ways to make us more competitive.

How badly do you want success?

7 Steps for Preparing to Sell in Spring

During this time, many of us celebrate spiritual traditions, practice family rituals, create new memories with loved ones, and take some time to relax (hopefully). Spiritual practices enrich our lives and offer perspective on the big picture. Family rituals give us a sense of safety and security and bring happiness. Making new memories with loved ones grounds us and builds a sense of belonging and intimacy. Taking time to relax reminds us that life is not work, that we work to live and live to relate.

But soon, our minds will turn back to the pressing issues of life. We'll begin to pay off all those holiday charges. We'll pack up the holiday decorations and get ready for the Vols bowl game against Penn State. We'll start thinking about tax filings, Valentine's Day, and so on.

And, many of you will begin to consider preparing to get your properties ready to market in Spring. This article is written to give you 7 practical steps to getting your house ready to sell. Beginning to prepare now will alleviate stress and give you opportunity to notice small things that may make a big difference.

1. Prepare Flooring - Flooring gives buyers a sense of how you have cared for the house. Dirty, smelly, or worn floors communicate disrepair and neglect to buyers. Clean, new, shiny, maintained floors show the owner's care for the house. Floors are foundational to our lives. Take good care of the floor, and others are encouraged to believe that you have taken good care of the house. Schedule a professional floor cleaning or analysis. Be willing to invest in some new flooring in areas that are worn or stained.

2. Replace Bathroom Fixtures - Dirty sinks, old toilets, and dingy towel racks, and so on exhibit an owner's inattention to detail. Be willing to replace faucets, toilets, towel racks, toilet paper holders, shower curtains, etc. Bathrooms are very important to buyers. The importance of cleanliness and newness cannot be underestimated in your bathroom. Clean, clean, clean the bathroom.

3. Get Front Landscaping in Shape - Neat, well-kept front landscaping contributes to great curb appeal. Be willing to spend a few dollars and hours to shape up the front greenery. If you have rocks, timber, or other decorative elements that need to be re-arranged, realize the importance of offering a neat, organized appearance. Pull weeds, take down out-of-control ivy, remove trash, and arrange water hoses for the best look.

4. Re-paint or Touch Up Paint - Re-painting a room can bring a whole new atmosphere. Think about the one or two rooms that buyers will see first. Consider re-painting these rooms to a bright, neutral color that offers the sensation of freshness. Use small Post-It-Notes® or tape to mark paint scratches, nail holes, wall scrapes, and so on so that you can go back and touch up the paint. If you think you do not have the skill to do this well, hire a handyman or painter to do it for you. Walls and paint are crucial to selling your house.

5. Analyze Lighting - Is there sufficient lighting in important rooms like the kitchen, the great room, the bathrooms, and the master bedroom? Replace bulbs that are out or not working. Consider buying new lamps for the main living / family room. Are hallways well-lit? Are external flood lights, door lamps, garage opener lights functioning? Motion-activated flood lights are a real plus for buyers.

6. Personalize or De-personalize the House? - There is some disagreement on whether a seller should de-personalize the house or personalize the house when preparing to sell. Should you remove all personal pictures and novelty items? Or, should you exhibit attractive, tasteful items that reflect family memories and personality? With my clients, I recommend a simple but significant re-arranging of furniture, pictures, and so on in order to create an easy, uncluttered flow to each room. If there is too much furniture or too many personal items, I recommend de-cluttering the room and putting some items in storage. I do believe that buyers want to see a house that is "lived in" and not picture perfect. It is not necessary to clean every nook and cranny every day.

7. Bright, Clean Kitchen - Are your appliances dirty, worn, old, or unattractive? Be willing to spend a few hundred dollars to offer clean ranges, updated sink, new faucets, and so on. Do the cabinets need to be stained, cleaned, or re-lined? Re-organizing your cabinets, shelves, pantry, and counters will create a sense of order and care in the kitchen. The kitchen is the heart of the home. Invest in this room with new small appliances such as coffeemaker, toaster, microwave, or whatever.

Invite your friends, family, or neighbors over to give you some constructive feedback on the condition of your house. Ask them for frank, honest input. If they were considering a purchase of your house, what would discourage them from buying? Make a list of their suggestions. Work that list.

I encourage you to maximize your chances for a successful, significant marketing campaign. Call me at 388-1621 or email me at richard@richardbarbee.com for a free 20-Step Preparation List. I can come to your house and give you some personal suggestions if you list with our team. Check out my website at www.richardbarbee.com for more helpful tips and my newsletter. Take Care.

Richard Barbee, M.Ed., GRI, CRS

Real Estate Broker

Realty Executives Associates, Inc.

10255 Kingston Pike

Knoxville, TN 37922

Office 693-3232 Cell 388-1621

www.richardbarbee.com

Seller Power in a Down Market

Can we truly make lemonade out of THESE lemons? The real estate market has taken some real blows across the nation. Though regional in nature, the national press coverage would convince us that there is no real estate activity whatsoever. If you have friends or family in California, Florida, Michigan, Ohio, Nevada, or a few other states, you may have heard their lamentations about the status of home sales in their areas. But, let not your heart be troubled. Though the market is down, it's not out. To use a boxing analogy, the market has taken a standing 8-count but is ready to jump back in the fight.

I talk with mortgage lenders all the time. They have money to lend! The main problem seems to be qualifying buyers with the new, tougher financing requirements. The desire to buy is out there. Credit scores and cash down payments are relatively unchanged. The issue is that the free-wheeling stated-income, no-money-down mortgages are very scarce. Even those with 700+ credit scores need some money down in most cases.

So, what power do home sellers have at this point? If you need to sell, what hope do you have? Please allow me to empower you with 3 suggestions:

1. Condition - The condition of the property is in the control of the seller. You must take a look at "the competition's" condition. Are other homes in your price range offering better flooring, newer appliances, updated roofing, more attractive landscaping, or nicer kitchens? Visual impressions within the first 2-3 minutes can make or break a buyer's interest.

An experienced Realtor or home stager can offer you sound guidance on competing well in the current market. If I see 15 houses in the $250,000 range, I can do a mental comparison of conditions. While every house may have a 2-car garage, new roof, and updated HVAC system, not every property has new carpets, fresh paint, updated plumbing and lighting fixtures, clean smell, and so on.

Take a look at the house from a buyer's perspective. Get with a Realtor to take a tour of similar homes in your price range. Go to some open houses near your property. Look online at www.richardbarbee.com or www.viewhomes.com to see pictures of other homes in your price range. If you have been on the market for awhile, have a friend (or family member or church member or co-worker) come over to give you an honest opinion on the condition of the house. If cash is a problem, there are free and cost-efficient methods for improving condition.

Take a moment to think about any features of the house that might turn off buyers. One mental note in selling a house, think of it as a house on the market rather than "your home." Try to remove all sentimental emotion from the situation. You are trying to sell a product, not your heart or your sense of belonging or your family. Taking a business-like perspective to the process can help your "market vision".

Additionally, having a pre-listing home inspection can help you get to know more details about the condition of your home. I mean, how many of us crawl under our houses every 3 months to check moisture, insect status, insulation, plumbing, etc.? My friend Jack Feldmann of Clayton Inspection Services has proved to me time and again that a professional home inspection BEFORE listing can help a home be far more competitive in the market and eliminate / mitigate any potential risks to the purchase contract.

2. Price - An old saying in real estate goes "Price cures all ills." There is a price at which every house will sell within 30 days, within 7 days, within 1 day. This is not a Realtor trick. It's just true. At this time, many potential sellers know that they do not have a lot of wiggle room in pricing their home. Generally speaking, it is a bad idea to try to use the mortgage balance or desired capital gain to determine pricing for your property. Regarding emotion, this is almost always a hot-button issue between sellers and agents.

My good friend Thaxton Brown, a professional appraiser, always recommends a fresh appraisal when pricing is a bone of contention or a question mark. The appraisal industry is experiencing change of its own right now. But, one of the positive processes is the practice of time-sensitive appraisal. Home prices and market conditions are changing rapidly, for good and bad. Appraisers are using the most current data that is available to help come to an objective answer.

To put it simply, DO NOT SELL if you don't have to sell right now or if you are razor thin on your loan to value ratio. Job transfers, family growth, downsizing, life transition and other factors may lead you to sell at this time. Be assured that all is not lost if you find yourself in that scenario. There are things that you can do to benefit your situation and achieve some of your goals.

3. Marketing - Realtors must work harder now. Wide-ranging, sustained marketing campaigns are necessary at this time to achieve the same results of two years ago. When you pick an agent, take time to explore their marketing strategies for your property. The internet, professional photography, PDF brochures, creative websites, "guerilla techniques", and print media must be wrapped into a coherent, branded project in order to achieve results.

Make sure you choose an agent with the tenacity, time and knowledge to market in this highly competitive period.

I wish you the best. Please feel free to check out my website at www.richardbarbee.com , email me at Richard@richardbarbee.com , or call me at 693-3232 (office) / 388-1621 (cell). Thank you.

To all you boys and ghouls out there --

Happy Halloween. Happy is not a word we have used very much this year. Happy implies an in-the-moment, carefree elation. Given the current economy and market, that can hardly describe us.

Halloween has become a fantasy escape for our culture. Sure, we still see witches, goblins, and vampires. But many folks choose naughty bar maids, political figures (which can be VERY scary), actors, superheroes, and more. We use Halloween to dress up as someone else and act silly.

That is HEALTHY !!!!

Today, take time to let your guard down, be funny, laugh, appreciate silliness, and relax. Times will get better. Just keep doing the right things you know you need to do.

I am going out as Harry Trotter. I will be a young boy wizard with the runs. I'll carry my bottle of Immodium with me. ha ha ha

Take care.