Last week on the news, I saw a story about a mother who's three girls died in a house fire last fall with working smoke detectors. This prompted an investigation into which smoke detector was actually needed and why. Did you know there were different types? Ionization vs photoelectric.......I sure didn't.
Most house fires fall into the "smoldering" category. The type that occurs when, for instance a cigarette is dropped on a furniture cushion or something is placed on a baseboard heater. These fires take a long time to fully ignite, but smolder for a long time and that smoldering can be deadly!
This week I received from my local fire department, Woodinvile Fire & Life Safety, an informational brochure titled "A Tale of Two Smoke Detectors" with great tips for keeping your family safe and the difference between the two types of smoke detectors and why you should have BOTH types in your home.
An Ionization alarm is most responsive to flaming fires, but research shows most house fires do not start out as flaming fires. This smoke detector does pick up the presence of smoke, but not nearly as quickly.
A Photoelectric alarm is most responsive to a smoldering fire. This detector uses light-sensing technology to identify the presence of smoke.
The third type is the combination alarm which is both ionization and photoelectric all in one. All three look very similar, so be sure to read the packaging or ask for assistance to determine which one you are purchasing. (For a more thorough explanation of the three types visit Cableorganizer.com).
One of the industries Real Estate experts, Denise Lones sends me the Zebra Report which is ALWAYS very informative and this week is no exception. Here's what she has to say about things turning the corner here in Washington:
By Denise Lones CSP, M.I.R.M.
No, I’m not talking about spring. There is a completely different rebirth taking place—and I heard it with my own ears last week.
The sound I heard was the sound of money. Specifically, money flowing from banks. Ah, what a beautiful sound it is indeed.
Where did I hear it? From two builders.
As you may or may not know, in the course of my real estate travels I meet with a lot of Washington builders. I’m always asking them questions about the pulse of the market and how it relates to their businesses.
Last week, one of these builders said to me, “Denise, lenders are lining up to throw money at my clients.” Two had actually taken the time to call him with an offer to pay all closing costs on any property he can sell right now.
That made my ears perk up. Paying all closing costs is a generous offer in any market.
He explained to me further that the lenders are point blank telling him that they have money they need to lend—money from the American Recovery and Reinvestment Act of 2009. They also said that they need to disperse this money immediately to comply with Federal requirements.
Now that’s the best news I’ve heard in a long while! Lenders lining up to give away money fast. Did you think you’d hear that anytime soon? I sure didn’t.
They told my builder friend to get his advertising in gear and sell some homes. Needless to say, he was excited. He told me that for him, it actually feels like life is slowly returning to normal.
But wait, it gets better.
A second builder I know told me that a lender called him to offer 3% on any sold home—money that can be used toward anything from closing costs to down payments to interest rate buy-downs.
On a $500,000 home, that’s $15,000 free dollars! Amazing. This is really good news for buyers.
For first time buyers, it’s even better. The first-time home buyer who qualifies for the $8,000 tax credit available now has an opportunity to benefit to the tune of $23,000 from the purchase of a $500,000 home.
I’m so excited about this. I never thought I would see such terms in my lifetime. And I have a feeling it’s only going to get better and better as lenders scramble to compete with each other.
But wait. I’m not done with the good news yet.
Last week, I also attended a meeting for people who sit on the boards of local banks. It was unanimous among all attendees that any and all funds received from the Federal government as “stimulus money” need to go directly to the benefit of homebuyers.
Triple crown! Three pieces of good news for all of us in just a matter of hours. Mark my words, these are the first chugs of the locomotive steam engine of recovery.
Now, I know that the American Recovery and Reinvestment Act of 2009 is not perfect. Neither was the Emergency Economic Stabilization Act of 2008. Nor the Economic Stimulus Act of 2008. Personally, I would have liked to have seen a $15,000 tax credit instead of the $8,000 that was approved. Still, the initial results we’re seeing are hopeful for a more lucrative future.
If we could only get the excessive new construction inventory sold off, then we would see some fantastic gains. When builders stopped building, they focused exclusively on selling their existing inventory. This left a gaping hole in the resale market.
Once builders run out of inventory we will see a huge boost. The resale market will rebound because there will be no new home inventory left. Then, recovery will be in full swing.
Get out there and take this information to the streets. The first signs of recovery are here. I bet you’ll be the first to bring this good news to your clients.
Thanks Denise!! Always encouraging!
Sandy Noll
Realtor
Keller Williams Realty Kirkland
425-890-0878
sandy@sandynoll.com
www.letsachieveyourgoals.com
http://positiverealestateprofessionals.com/washington/
Your Residential Real Estate Specialist
Want to talk to me right now?
UPDATED: 2nd commission check in 24hrs! That's more than 1/2 my $6 fee!!!
Dear Sandy Noll,
A new sale has been made through your own or your downline's affiliate link and a commission has been credited to your account. The details of the transaction follow:
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Customer Name: Huang
Payment REF: 23379
Subscription start date: 03/17/2009
Your commission: 2.00
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To Your Success,
The Chat To Text Team
A colleague Brett Noel sent me an email yesterday, actually he calls it his Weekly E-zine and it was filled with several ways to generate additional income streams in this slower economy. One item of particular interest to me was the ChatToText. I followed the links, watched a quick video and signed up! Not only is it very affordable, only $5.99, but your earning potential is HUGE!!!
So yesterday I posted a note on my FaceBook profile about this great new feature ChatToText that keeps you in touch with your people and provides an avenue for passive income (*see below). Today, 24hrs later I received this email:
Dear Sandy Noll,
A new sale has been made through your own or your down-line's affiliate link and a commission has been credited to your account. The details of the transaction follow:
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Customer Name: Rowe
Payment REF: 23368
Subscription start date: 03/17/2009
Your commission: 2.00
----
To Your Success,
The Chat To Text Team
That's pretty AWESOME!! I've just covered a 1/3 of my $6 and all I had to do was "Invite" others to take advantage of this GREAT opportunity and use this cool new feature!!
Don't miss out, check out the link below and get on-board while the gettins good!!!
*HOT! HOT! HOT!
CHAT TO TEXT: Buyers, Sellers, and any potential client/customer can text you as they are looking at your website. Imagine a consumer looking at one of your websites and he/she has a question for you. They Text your cell phone while on your website. You can call them right back and answer any questions before they leave your website to go to a competitors. This new revolutionary feature is available to the public. Go to this link. It costs $6.00. You will want to join just to have this product but here's the best part. You will want to tell everyone you know. When they sign up you get $2.00. When they sign up and they tell their friends you make more money. This is what passive residual income is all about. If you don't allow your customers access to you immediately then another agent/vendor will.
What about social networking? This chat to text can be added to aol, facebook, Myspace etc. You can be online and text your friends or clients. They can text you back from their phone while you are on the computer. You have to see this. Watch this video!!
Sandy Noll
Realtor
Keller Williams Realty Kirkland
425-890-0878
sandy@sandynoll.com
www.letsachieveyourgoals.com
http://positiverealestateprofessionals.com/washington/
Your Residential Real Estate Specialist
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Every agent who has participated in a short sale transaction knows there may come a moment when the lender announces a reduction in the commission it will approve as a condition of accepting an offer. A great deal of angst circulates around this issue because, despite what the seller agreed to pay in the listing agreement and notwithstanding the advertised SOC, the transaction cannot close without the lender's approval which is often a "take it or leave it" position. The buyer and seller want the transaction to close and agents do not want to be a road block to that outcome. Balanced against this is an agent's and broker's need to earn a reasonable income and justify their own expenses and liability incurred in a transaction. If lenders condition acceptance of short sale terms on agents' willingness to accept a reduced commission, agents really have no power - except to decline to list or show short sale properties in the first place - a tragic result for everyone, including lenders.
Fannie Mae was made aware of this pattern and the adverse consequences of agents and brokers avoiding short sales. As a result, Fannie Mae announced a revised policy that took effect March 1. Now, "closing of preforeclosure sales may not be conditioned upon a reduction of the total commission to be paid to real estate agents to a level below what was negotiated by the listing agent with the borrower, unless the fee exceeds 6 percent of the sales price of the property in aggregate." This policy applies to Fannie Mae loans only and only to those loans where the borrower is in default. Nevertheless, it should give agents and brokers a degree of comfort in knowing that the agreed and earned commission will be paid on many short sale transactions. For a property secured by a Fannie Mae loan, where the seller is in default, the lender may no longer condition acceptance of buyer's short sale offer on the agents' and brokers' agreement to reduce their commission below a total transaction commission of 6%.The new Fannie Mae policy says the following:
Servicing Guide, Part VII, Section 504.02: Contacting Selected Borrowers
Effective March 1, 2009, closing of preforeclosure sales may not be conditioned upon a reduction of the total commission to be paid to real estate agents to a level below what was negotiated by the listing agent with the borrower, unless the fee exceeds 6 percent of the sales price of the property in aggregate. Servicers are reminded that they must continue to obtain any approvals that may be required by interested third parties in connection with preforeclosure sales.
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Achieving your real estate goals is my number one priority. I'm your real estate professional for Kirkland and Woodinville and the Greater Seattle area throughout King and Snohomish Counties.
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