Real Estate

12January

Today Is The Day. Join Top REO Brokers For Online Radio

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Join Margo McKay Broughton, First Preston HT’s National Trainer and Vice President of Program Development, online today during “The Power Is Now” radio show. There are scores of savvy real estate professionals on tap to keep the business-building questions and answers flowing.

Protect the time slot.  It’s today, Thursday, January 12 from 12:30 p.m. to 2 p.m. CST.

There are three ways to participate.

  1. Listen online at www.blogtalkradio.com/thepower.
  2. Call (877) 497-1811 to listen in by phone.
  3. To ask a question or add a comment, you may call (877) 317-7323 to speak with Margo and the host during the show.

Join us live today, Thursday, January 12 from 12:30 p.m. to 2 p.m. CST. See you online!

For more information, please join us at FirstPrestonHT.com or on our Facebook and Twitter pages.

11January

One Day to Go – Online Radio REO Style – Tomorrow’s the Day

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Can you comfortably explain to buyers the Home Inspection process and fees for HUD-owned homes? If the deal goes south, who gets the Earnest Money?

Just a Reminder—Join us tomorrow for an online radio show, designed to keep you in the know.

Save the date and time.  It’s this Thursday, January 12, from 12:30 p.m. to 2 p.m. CST.

There are three ways to participate.

  1. Listen online at www.blogtalkradio.com/thepower.
  2. Call (877) 497-1811 to listen in by phone.
  3. To ask a question or add a comment, you may call (877) 317-7323 to speak with Margo and the host during the show.
10January

2 Days to Go – Don’t Miss the Show

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Are you sure about HUD’s commission structure? Can you explain to an investor the offer timeline and which date they are eligible to place an offer on a HUD-owned property and why?

Just a Reminder—Only 2 days until the live Internet talk show—“The Power Is Now,” with guest speaker Margo McKay Broughton, from First Preston HT, who will share news you can use!

Save the date and time.  It’s this Thursday, January 12, from 12:30 p.m. to 2 p.m. CST.

There are three ways to participate.

  1. Listen online at www.blogtalkradio.com/thepower.
  2. Call (877) 497-1811 to listen in by phone.
  3. To ask a question or add a comment, you may call (877) 317-7323 to speak with Margo and the host during the show.
10January

You’re Invited To An Online Radio Broadcast

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First Preston HT Radio ShowAre you ready to get the latest scoop regarding HUD REO facts for 2012?  You’re invited to a live Internet radio broadcast, featuring Margo McKay Broughton, First Preston HT’s Vice President of Program Development and Director of Training.  “The Power is Now” show is hosted by Eric Lawrence Frazier, President of the Orange County (Calif.) Association of Real Estate Brokers and Assistant Vice President/ Branch Manager for Wells Fargo Home Mortgage.

Ms. Broughton is known for her fast-paced, lively training sessions that are packed with useful information for real estate professionals selling REO properties.  During “The Power is Now” broadcast, she will discuss topics such as “How to Become a Listing Broker for HUD Homes—Is There Still An Opportunity?” and “Successful Closing Strategies for HUD Properties.”

You can participate in the live broadcast in one of three ways.

  1. Listen online at www.blogtalkradio.com/thepower.
  2. Call (877) 497-1811 to listen in by phone.
  3. To ask a question or add a comment, call (877) 317-7323 to speak with Margo and the host during the show.

Save the date, it’s this Thursday, January 12, from 12:30 p.m. to 2 p.m. CST.

3January

Buyer Finds Cash Hidden in Walls

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Buyer Finds Cash Hidden in WallsHave you or a client found hidden treasure inside a recently purchased house? A demolition crew discovered thousands of dollars inside the walls of a house they were hired to demolish. The new owner observed the shower of cash and supervised the cash round-up, which took several hours.

Check out the video to see how the new owner, a Massachusetts dentist, handled the newly-found cash stash.

If the same thing were to happen to your client, how would you advise them to handle the money?

For additional information, please join us at FirstPrestonHT.com or on our Facebook and Twitter pages.

6December

New Construction Trend is All in the Family

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Multigenerational housing trendFour years of college and Johnny cannot find a job. Despite his best efforts, he swallows his pride and moves back to his parent’s house. His working parents are helping his grandparents downsize and find a small retirement place. Meanwhile, Johnny’s younger sister decides that the dorm is too loud and expensive, so she, too, moves back home. Eldest son Jack was laid off months ago and now needs to temporarily move his young family into his parent’s basement—until they can get back on their feet.

Plans change. Lifestyles collide. A multigenerational construction trend is born.

According to an article by Diana Olick of CNBC.com, 69 million Americans “doubled up” in 2011 — up from 28 million multigenerational or roommate households in 2008.

Builders are delivering homes that accommodate the need; featuring in-law suites, interior apartments, multiple master suites, separate entrances, sound-proofing and accessibility.

The construction industry has been hammered by soft demand; therefore builders are paying close attention to buyer needs and preferences. They are hyper-vigilant and extremely responsive in addressing buyer demand.  Check out the video clip highlighting this developing construction trend.

What new housing trends are you seeing in your marketplace?

For additional information, please join us at FirstPrestonHT.com or on our Facebook and Twitter pages.

13October

Website Posts Realtor® Performance Data

Seattle brokerage firm Redfin has launched a web-based tool that provides customers with the performance statistics of agents in marketplaces where Redfin competes. The service is free to consumers.

The tool is called “Scouting Report.” Redfin pays local MLS organizations to allow them to post performance data that traditionally was only available to participating MLS-member real estate professionals. The program allows shoppers to pull up various REALTOR® names and compare performance stats on a ‘one-on-one’ basis. Redfin says they are going a step further (than similar services)… “To help sellers select a professional to market their home.”

Redfin is a brokerage firm that offers customers a 15% percent commission credit, subject to specified terms and conditions. The “commission credit” is usually deducted from what is customarily the buyer-side commission. How can they afford this? Per their website “the investors in Amazon and Facebook back Redfin…” and their agents are employees who are paid “customer satisfaction bonuses rather than a commission.”

The Oct. 3 overview from The New York Times shares insights from Glenn Kelman, Redfin’s chief executive, who asserts “the tool (Scouting Report) provides data on roughly one million agents.” Agent response has ranged from militantly opposed and reviewing legal options to acceptance as the next logical technology tool.

Question: How do you think this type of tool will impact the industry?

For more information, please join us on FirstPrestonHT.com or on our Facebook and Twitter pages.

11October

The Next Big Thing in Real Estate-Short Films Starring the House?

It was just a matter of time. With the rapid progression of video technology we should have seen it coming. Now it’s here and it’s hot.

The logical step up from virtual tours of uninhabited homes has arrived. It is the short film with on-camera actors explaining key features while using them as they were meant to be used.  They capture the imagination by demonstrating the lifestyle that may be plausible for the new owner. They highlight neighborhoods and local attractions by weaving them into the story. They partially answer the question, “What would it be like to live here?”

They say that a picture is worth a thousand words. So, is a short film the new storyline for sales success?  Clearly these are most viable for upscale properties, but who knows – someone may come up with a viable version for modestly priced properties as well.

Check out two very well-crafted listing videos. One epitomizes the bachelor lifestyle and the other simulates a day in the life of a family.

Sample Listing Videos:

Source: 6816 Pacific View Drive, Hollywood Hills, Eric Lavey/Vimeo.  Courtesy of Inman News.

Title:  A day in the life of a home. Source: YouTube.

After viewing, drop us a comment. Will this medium thrive or will it flop?  Enjoy.

For more information, please join us on FirstPrestonHT.com or on our Facebook and Twitter pages.

20September

Mortgage Rates Hit 60-Year Low

Mortgage guarantor Freddie Mac, reported that “the average rate for a 30-year, fixed rate loan fell to 4.09% this week, its lowest level in 60 years.” That’s down from last week’s low of 4.12%.  “The average rate for a 15-year fixed mortgage dropped from 3.33% last week to 3.30% this week. The record- breaking trend is reported in a September 15, CNNMoney.com article.

The trend sparked an increase of 6.3% in mortgage applications; however 77% of loan applications were for refinancing existing mortgages.  Stats indicate that only 23% of heightened mortgage loan activity involved initial loans for purchasing homes.

According to the Federal Housing Finance Agency, 8 million homeowners with Fannie Mae or Freddie Mac related home loans currently carry interest rates of 6% or higher.  If such homeowners refinanced to today’s “30-year average fixed rate; it is estimated that on a typical $200, 000.00 mortgage, a homeowner could realize a savings of $1,715 per year in interest.”  The 15-year mortgage, a popular choice for existing homeowners, would yield even higher immediate savings.

It is noteworthy that qualification requirements for the lowest interest rates are demanding. Initial purchases often require large down payments and pristine credit.  Refinancing for best rates requires a strong record of on-time payment performance and perceived stability.

In August, the Fed promised to keep interest rates low through at least mid-2013. Are prospective buyers using the “mid-2013 promise” as a reason to wait? Are prospective buyers and existing homeowners in your area aware just how low rates are?  What trends are you seeing among qualified prospective buyers and existing homeowners?

For more information, please join us at FirstPrestonHT.com or on our Facebook and Twitter pages.