Weeding out Homes For Buyers

When I first meet a buyer I like to take them out for a 'Get Your Feet Wet' day. I really don't expect the buyer to find the perfect home on the day they take their first ride in my car. I can't remember ever having that happen....really, ever.

We will have talked on the phone to discuss their want list. What areas, what price range and what amenities.  I believe I have slightly touched on this topic before but this is more about what I do than what changes of their minds they make.

I do my Realtor research, schedule several showings and in the car we go! And, on that first day, sometimes the second, I keep fairly quiet. Offering not much in the way of opinions, just listening. Watching and gathering their emotions and thoughts.

Things they have said on the phone, don't always match what they see when we are sprinkling their toes with the first water drops of a home search excursion. 

That first day tells me a lot about what type of people I am going to find a house for. What is important to them to make their family happy in a home. And, it's not always how big the family room is, or how many trees are in the backyard.

That day tells me how an open floor plan feels to them. How claustrophobic they get with the neighbors house looming over them while looking at the backyard of the house with the fabulous pool. How sensitive their hearing is to white noise vs. no noise of the neighborhood up on the hill.

Wet toes tell me if they truly are do-it-yourselfers, like they said they were, or if they really need a 'model home' house.

And, once that first or second trip out with my clients is done, their feet are wet up to their ankles and we are rocking! And, I have a much better understanding of who they are and what will make them happy.

So, I weed out homes. Search, network, view. All for the sole purpose of finding the right house for them.  I weed out the ones that are too noisy, the ones that the neighbors can see right into their backyard. I remove the ones that don't have a big enough kitchen. Ones that need too much work.

Almost all of my clients I communicate with just about every day or so. And, most of my buyers I give them complete free reign to our MLS. We send notes back and forth to each other. When they say, "What about this one?" I know there just aren't enough trees on the block. I know that the dining room won't fit their lifestyle. And, I know that the one that has the door that opens up to the deck that they say "What about this one?" is already on our list to see on our next ride in my Lexus.......and that just may be the one that soaks them all the way up to the top of their head!!

Honk, wave, and see if there are wet foot prints by the passenger side of my car the next time you see me with a client! You'll know it's been a good day!

Referral Network - I Love Realty Executive Agents!

Just a shorty today. Not super opinionated either.

I work with a great group of agents at Realty Executives out here in Santa Clarita. We help each other every day. Selling listings, networking for buyers. And, we even help people with painters, electricians and landscapers. Sometimes, selling furniture or rescuing animals as well.

Yes, we really do.

At least once or twice a week, one of us has a client that needs some type of service done on their home or some help with something not even house related. So, we send out an e-mail to all of our associates and BAM! we get several replies back.

Nothing is better than a personal referral. Sorry Yellow Pages, no letting of the finger walking here.

This morning it was a painter and floor re-finisher. Last week, furniture. Once it was tile in a bathroom. Sometimes it's a little more personal.

A few weeks ago it was a dog that was displaced by foreclosure. One agent sent out the e-mail, posted it on Facebook and many of us got involved. Was the dog saved? You bet.

Was the furniture sold? Don't know, but probably. Did I get a painter referral? Of course, and already forwarded it to my client. Floor Re-finisher, not yet, but surely will. And, the painter referral I received? He needs the names of the floor people I get. So, we continue to network and help each other.

I wouldn't work for any other company.......we're like one big happy family....I think we're the best.....and the Daily News readers think so too.......

Santa Clarita - 'The City of New'

I do the majority of my business in the Santa Clarita Valley. It's where I've lived for almost two decades so I know it well. I do help clients in the San Fernando Valley, and I know the regulations that are different from here, but I don't know the town, as much as I should, to call myself a specialist there.

Santa Clarita has been around for many years, constantly growing and changing. We have homes that are over 50 years old and then, reason for this blog post, many, many homes that are less than ten years old.

So, I nick-named SCV the 'City of New' quite some time ago and I still frequently call it that. 

Everyone loves the shiny new car, the new dress, the new shoes, the new fish in their aquarium (for Mike), the new golf clubs. And, I've found that most buyers, shopping for homes in SCV, like newer houses better than older homes.

Now, I'm not saying people don't like the charm of older homes, with mature trees and frequently bigger lots. I am only telling you what I've seen over the last decade of selling homes here in SCV.  Because SCV has many newer homes, that seems to be what the clients gravitate toward. And, really, for a while, we had a lot of new construction going on which made the kitty of newer homes larger.

There is less to do with newer homes, less to repair, less carpet that needs to be changed, less tile that needs to be replaced with granite, less single paned windows that need to be changed to dual-paned, less galvanized plumbing that should probably be switched to copper.

The newer homes are like the shiny new toy for your childs' birthday!

The reason I bring this to your attention is just to think about my favorite thing, re-sale. While you are buying a home that has had a lot of upgrades, over the last 30-40 years and the trees are nice and big and shady? It's still an older home. And, when you have the competition of all the new ones, it does make that home a tad harder to sell.

There is a buyer for every home, absolutely. But, when buying and selling homes in the City of New, I see that the buyers are entranced more with shiny and new than shady and older.

Me? I want a nice big rambling old single story on a few acres with lots of big shady trees. But, I'm not one that always goes with the majority. ;o)

Inventory Increasing - REO Incentives Should Help

Although inventory is increasing, slowly, but still increasing, there are all kinds of ways to help buyers get into properties. Read the info below about buying REO properties. There are a quite a few in the 'shadow', but release 'em, we'll help ya buy 'em, and the incentives make everybody happy!

Special Offers

New Buyer and Selling Agent Incentive on HomePath® Homes

Fannie Mae is offering buyers up to 3.5% in closing cost assistance and a $1,500 bonus for selling agents on HomePath properties through December 31, 2010.

Buyers and selling agents must meet the following qualifications to be eligible for the incentive:

• HomePath property sale must close on or before December 31, 2010 and close within 60 days of offer acceptance
• Only owner occupants purchasing a HomePath property will receive up to 3.5% in closing cost assistance
• Only selling agents representing owner occupants purchasing a HomePath property will receive a $1,500 bonus. To be eligible for the agent’s bonus, the initial offer must be submitted on or after September 23, close within 60 days of offer acceptance and close on or before December 31, 2010. No bonus will be given for investor purchases.
• Buyers and selling agents must request incentive upon submission of initial offer in order to be eligible. 

Note: Offers submitted after November 15, 2010 may be difficult to close by incentive deadline of December 31, 2010.

Terms & Conditions:

• The 3.5% seller contribution is to be used towards closing costs, including a home warranty, if desired and available.
• Retail and public entities are eligible for the incentive however pool and auction sales, and sales to investors are not eligible.
• Fannie Mae reserves the right to remove any property from promotion or end the promotion at any time. Any dispute over the payment of a bonus shall be resolved by Fannie Mae in its sole discretion.
• Buyers should consult their lenders for guidance on financing. Lenders and mortgage products may impose their own limitations on the use of the 3.5% incentive. For example, the lender may consider the incentive a Seller Contribution and limit the amount to 3.0%. In those instances, the remaining 0.5% will no longer be available to the buyer.

 Courtesy of www.fanniemae.com

Complete The Purchase Agreement, Fill in all the Blanks

When we are writing an offer for a buyer on a prospective home, there are many pages to complete.

Back in the day, we did it all by hand. Hovering over the contract to make sure we didn't miss a single spot. Now it's all in cyberspace and computerized. Wonderful! I love it, I can write a contract from any computer, anywhere that has Internet access!

I still hover over every spot the cursor bounces to so that I don't miss anything. And, I go over the contract 2 to 3 times to check again.

And, fortunately it 'prints' in blue with a yellow background to make it easier. You'd think it was a no-brainer!

Many times however, when I am representing the seller, I see an incomplete offer or one with mistakes. Some spots are like a multiple choice, I get that. But, some are just missed, like they didn't go to a single 'Contract for Dummies' class. I bet some of you can spot the error in the above contract and you're not even a licensed Realtor!

But, my company, has regular brush-up sessions for our agents. New contract classes when there is a change. We are taught over and over again not to make a mistake.

Because if we do, that's just a lawsuit waiting to happen.  I read the below article this morning and it prompted my blog subject. It's a great article and makes me laugh. The author seems to have my personality and she's not even in California. Maybe I should contact her and make friends!

Don't Take Shortcuts With Real Estate Contracts

Remember to have your agent review the contract with you and look for missed or mistaken items.....it could save you a large headache later.

Realtor With a Personality

Right now I've got 3 clients under Short-Sale contract waiting for approval. And, a few more not under contract. We keep looking at other properties, but one of them is so unique and so perfect for this particular client we have a hard time motivating ourselves to look at anything else. And, we are (imagine my thumb and forefinger together) 'this close' to written approval!

So, we keep in contact. I let him know what's going on with the Short-Sale and any new possibilities that are out there. He calls me if we haven't spoken in a few days.

This client is the 'Whisper' house client blog I wrote about a few weeks ago. I've been telling him to read the post since I wrote it. But hey, life gets in the way and he hasn't taken a moment to read it (nor give me the music CD of he and his brothers band!) until the last couple of days.

He called me yesterday to say hello and tell me he read the post. He then says just the nicest thing. That I'm not what he thinks a typical Realtor is. That I don't treat him like just a client. That a lot of people may not know about my personality and that I should utilize that somehow in advertising.....something along those lines.

I laugh and laugh and laugh. When I write my posts, preview and subsequently read them....I think, boy oh boy, anyone who knows me realizes that they are always written completely by me. I don't have a professional blog poster that I pay. All of them come from my head and today, from my heart.

Thank you  RG, for realizing that I am a human being first, Realtor 2nd. I am a successful Realtor in a difficult time, and I think, it has a lot to do with my skills and a little something to do with my personality, most definitely.

I'm Looking For New Listings

The last few weeks, my prospecting has been more aggressive than usual. I don't like to be the type of Realtor that just calls about Real Estate. I like to talk with people about all kinds of things when I get them on the phone. I'm not just a Realtor you know.

But, with the low inventory, and most of them being Short-Sales, I've been using a valid statement that most people would think is bogus.....and frequently is.

"I've got about a half dozen buyers I'm working with right now. If you know of anyone, with or without equity, that is even slightly thinking about selling? Pass them my info, maybe we can get a buyer and seller together quickly."

It's the truth. I've never used a B.S. line in my career. I've knocked on doors in particular tracks looking for a seller to match with a buyer. I've told buyers I have upcoming listings they may be interested in, and I do this to match with a seller.

It is what I do. But, particularly now, I've been vamping it up. Have to. Have to get my people into homes or I get frustrated for them. They get depressed. And, then my counseling has to kick it up a notch.

So, if I call you, or knock on your door? And, tell you I've got a buyer or a seller? It's true, let me know if you hear anything.  It doesn't always pan out. The seller doesn't always have what the buyer wants, the buyer doesn't always like what the seller has. But, the more momentum that I put out there, the more likelihood of something coming together for my clients.

And, I do what I do.....for my clients.....no B.S. here.