Archive for February, 2008
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Feb
07
Posted by larrykcragun
1- Convert their garage into a bedroom or other part of the home.
2- Add a swimming pool in an area people don’t want pools.
3- Remodel the kitchen without leaving a place for a full sized fridge. (Don’t be dismayed, I can show you one.)
4- Making the only available entrance, the back door. (Again, don’t be dismayed)
5- Making a physical change to the home where the change is of a poor design.
6- Doing a physical change using poor construction.
Click Here for 6 more things to do to make your home functionally obsolete.
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Feb
07
Posted by larrykcragun
1- Paint your driveway blue.
2- Leave your Christmas lights up all year long.
3- Follow every prospective buyer around making sure they don’t miss any of the homes unique features, especially the windmill in the front yard.
4- Feaux finish a different color and texture in every room.
5- Have different color carpet in every room.
Click Here For The Remaining 5 ways to prevent the sale of your home.
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Feb
07
Posted by larrykcragun
Please read the article: The title is misleading.
It’s a matter of what you like:
10 Reasons to list with a flat fee broker.
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1- I like being charitable: This way I can add to the flat fee’s paper route income.
2- I like being an author: my first book, the hazards of being the seller with no agent advice after the listing is signed.
3- I like being a locksmith: the flat fee guy won’t take the lock box off the door and the new buyer is threatening me. PS: It’s 3 weeks after we closed the deal.
4- I like taking signs down; same timing as number 3 above.
5- I like supporting office pools; that’s where the flat fee’s office is likely to be.
Click Here for the other 5 flat fee broker list
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Feb
06
Posted by larrykcragun
Now it is the time to nominate for 2008. In Random Order, our January 2008 Magnicent 7 nominees:
Life’s Rules: By Lisa Dunn, Real Sage Advice
Fed Rate Cut Makes The Time Right For An ARM: Nigel Swaby Salt Lake Real Estate Blog.
The One That Got Away: Bait And Switch? by Rhonda Porter
Buyer’s Markets Are A Great Time For Moving UP by Dan Melson
FHA Mortgage Reform: When Will Petty Politics End?: byFHA Loan Advice
Behind On The Mortgage: What is a Delinquent Borrower To Do? by Alex J Stenback.
Issues With Family Transfers Of Real Estate by Dan Melson
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Feb
06
Posted by larrykcragun
10 Reasons to sell your home yourself - FSBO Perhaps its a matter of love.
1- I love answering the door at 11PM, in my PJ’s.
2- I love people stealing my treasures.
3- I love receiving 50 offers at 6% below my asking price.
4 l love people peeking into my bedroom window at 8 AM Sunday morning.
5- I love having my neighbor ask if I will finance his cousin; the one that just finished bankruptcy.
6- I love the idea of trading my home for a junker.
7- I love the realtors that drop in to pitch me on using them.
8- I love having realtors spouses telling me I should meet a real pro, the one who I refer to in #7 above.
9- I love making signs and flyers.
10- I love telling everyone that drops by the 100 fine features of my home.
Bonus: I love finding out I sold my home at 17% under real market value.
Larry Cragun
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Feb
06
Posted by larrykcragun
It is my experience that home shoppers need to research financing at the same time they research homes. People are spending months researching homes before they purchase. Is that you? Are you looking at homes you qualify for, working to qualify for, or dreaming to have someday? There is no wrong answer to this question.
The wrong answer is to be researching homes without researching financing. You should know what you qualify for, what you almost qualify for, and what you can qualify for with some changes. (Example: Lower monthly debt payments.) The more you know the more you are likely to choose a good lender, buy the home you want, and have a good purchasing experience. The fact is the less you know the more likely it is to hurt you. Too often people get tied up with a low skilled lender, with a lender that is too busy, or inexperienced.
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Feb
06
Posted by larrykcragun
Today’s story shows how both buyers and sellers could be hurt.
The case in point was one where the issue of the inspection we required was the gas furnace. I was the agent for the buyer. We had an inspection completed. Our inspector claimed there was a gas leak in the furnace. The seller and his agent were at the inspection. The seller was certain this was wrong. He had just had the local gas company out to inspect the furnace and it passed.
We were concerned and were not going to go by the sellers inspection, even though he insisted. After discussion with the listing agent and seeing we were standing by our inspector another expert opinion was called in. Guess what? There was a leak. The furnace was replaced. The transaction closed just fine. No harm took place.
I wonder, as determined as the seller was, would a FSBO have fought like we did? Where would the flat fee listing guy have been? I have sold several houses listed by flat fee’ers. Not one has been there to assist his seller in cases like this.
What could have been the outcome with no agents, or sort of agents? What could have happened to the sellers in the next 30 days before closing?
Think about the seriousness of what you do to save money.
There are reasons, real reasons to use a professional that will be there for you on all fronts, not just the input into the MLS front.
Larry Cragun
PS: I will tell you, the seller was very apologetic, even grateful.
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Feb
06
Posted by larrykcragun
Undressing the agent with 200 listings. (OK, not two hundred, how about too many?)
All too often people list with the best marketer of themselves rather than the best one to market their properties. They are sometimes overwhelmed by the pitch and seeing an agents name everywhere. She is on TV, the supermarket basket, and your neighbors golf cart. Her professional name is not Lilly, It’s Listing Lilly. Listing Lilly is the marketing queen, at least in marketing herself.
The naked truth is if you pick Listing Lilly you may be picking the wrong agent for your home. In a normal market, perhaps the one we are entering, it takes marketing efforts to sell your home for top dollar and in a speedy time period. Rather than putting a sign in the yard and listing your home in the MLS, selling your home may take some effort.
As an example, I am amused at how consistant busy agents say open houses don’t work. Sellers usually, and rightfully, want their home held open. If you have listed with an agent with too many listings, how can they hold your home open? Or how often? Once? Twice? Thrice? (Sorry)
Have you ever heard the line, open houses don’t sell your house, they just find buyers for someone elses house? I will translate that for you. Its translated meaning is: I have too many listings to hold your home open.
Open houses do work. Especially if held when people are coming home from work, or even on Saturday when they have time to take a look. How many people rent in your vacinity, people that like the neighborhood? Maybe your buyer lives in the area because it is their favorite place or close to work. He or she just needs to go through your home.
Hold the home open, people may drop in. Have a lender or mortgage info there. Encourage them to see if they qualify if they like the home.
The naked truth; this is just one example of an important marketing tool, that is neglected when you list with Listing Lilly. Another, keeping the flyer box full.
Goodness, I hope there isn’t someone out there that has coined that name. If so, let’s talk.
To not be accused of something bad, please change Listing Lilly to Listing Larry.
If being pitched by Lilly or Larry, make sure you pick an agent that will seriously market your home.
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Feb
06
Posted by larrykcragun
Mortgage Interest Rate Locks 101 By Rhonda Porter
What level of guarantee can you offer me with these rates you have provided on the Good Faith Estimates? By Rhonda Porter
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Feb
06
Posted by larrykcragun
Picking your next mortgage by rate shopping? You might as well be playing Liar’s Poker. Click Here for the full article by Rhonda PorterRate shopping to select who will be assisting you with your next mortgage is similar to playing “liars poker”. The Loan Originator who is the most successful at bluffing wins. The fact is, unless you’re locking in the rate at the moment you’re shopping, you don’t have a rate, it’s a quote is all….
