Category: Real Estate (page 57 of 266)

The iPhone screen shot is from a piece of software I’ve been playing with since Thursday. We got the gross idea from Redfin’s agent-monitoring software. Their stuff is simpler and prettier, but ours is robust and mission-critical.
What is it? Basically an automated tickler, the relationship-management part of Customer Relationship Management software. I’m still massively ambivalent about saddling on a big new piece of software like Salesforce, but I’ve been less than whelmed by cheaper products like Heap.
What I need, I realized, is this: Something to keep me on track every day. The records we’re showing are very brief, but they can contain every mission-critical detail we need to make contact with the client. The software runs on our file server, so it will work from any web browser and also from the iPhone. On a desktop machine, you can also do manual data entry, but typing on the iPhone is so painful that I left that feature out of the iPhone version.
But on the iPhone the phone number is “hot,” as is the ePage number if we have one. Likewise the email link, obviously. The Web Site link will take us to any URL we have linked to that record — with the most obvious destination being a cloud-based transaction-management page.
(I have plans there, also, with an iPhone-ready contact sheet for the entire transaction — agents, lender, title, inspectors, etc. On the iPhone, any PDF file is accesible, so the Web Site link will give us instant remote access to every live transaction.)
Here’s what it looks like on a desktop browser:

This doesn’t solve our larger CRM problem, but it’s built to harvest data from a real CRM system, once we have one. I have plans, too, to integrate it with Google Calendar — to calendar those events automatically — and with our existing web-based forms. Very soon, if you fill out a form on our web site, the form will create a record in this software automatically. I also want for it to tickle us by email on event days. Tickling us, too, to let us know when we’re not keeping Read more
Here’s a tip for real estate agents, when presenting an offer with FHA or VA financing; include the FHA/VA Amendatory Clause to the Purchase Contract as part of the offer. You’ll save you, the seller’s agent, the escrow company, the lender, and most importantly your buyer, a lot of last minute headaches.
You can download a copy of a templated form here. Most lenders will accept this templated form. If you don’t know the agency case number, etc, don’t worry about it. The most important thing is to get the property address, the buyers’ and sellers’ names and the final contract price on the form.
Why the VA Amendatory Clause doesn’t need to be a “deal killer” for the appraisal contingency clause of a contract:
Contractually, the VA amendatory clause portends a 21-day appraisal contingency period for VA loans. Pragmatically, the appraisers and underwriters complete their work prior to time limits making the 17-day appraisal contingency of the RPA feasible. What that means to real estate agents is that it is conceivable that the appraisal contingency MAY have to be extended to 21 days if things go absolutely wrong but that the 17-day contingency period is reasonable for VA loans.
QUESTIONS AND ANSWERS:
From a Zillow Consumer:
Who must sign the Amendatory Clause? Two good answers were offered:
by Brenda Zabriskie: Buyers, sellers, listing agent, and selling agent. I usually scan it into my computer and send it off to the other Realtor who usually scans it again and sends it back to me. I’ve never had a problem with having to have originals. I guess it depends on which bank you are dealing with.
by Timothy Sutherland: It depends also on the entity selling. You don’t need it if it’s a bank owned property an FHA/VA/Fannie/Freddie sale.
From another Zillow consumer:
If I’m planning to use an FHA loan, can I order an appraisal in advance? Two good answers:
by Greg Darlin: Yes, you can order an appraisal but you will be wasting your money. If you order the appraisal on your own, it will be Read more
I’m going to say something very unpopular… again:
We gotta get the Government out of the mortgage business.
That’s not going to happen anytime soon but we, as responsible free market advocates of our respective industries, must never stop saying “I told you so” when the whole thing implodes again. After repeated admonitions, they’ll start listening. When they start listening, we’ll experience a brutal but swift decline followed by a healthy and sustainable restoration of private mortgage banking.
Everyone is worried about Wall Street securitizing the paper. The prevailing thought is that without a government guarantee, no clear-thinking investment banker will ever take a risk on the American homeowner again. I know how to solve that problem;
Make ’em an offer they can’t refuse.
If a housing capital drought reduces housing prices to a stoopid low level, those investment bankers will be back. Investment bankers have the memory of a four-year old. We have to remove the current arbitrage game they’re playing so that they can get back into the business of doing what they should be doing; analyzing and pricing risk.
Right now, your mouth is probably shaped like an “O”. You’re most likely thinking “mortgage rates will skyrocket to 10% and NOBODY will buy a house! ” Your conclusion would be wrong and I’ll prove it to you:
Today, a $300,000 30-year, fixed-rate loan, at 5% requires a monthly principal and interest payment of $1610. If mortgage rates skyrocketed to 10%, the loan amount, for the same payment, would drop to $183,500.
That’s an offer Wall Street can’t refuse.
PS: If I’m sounding like a broken record, it’s because I’m going to keep saying” I told you”, as my battle cry, until they start listening. For those of you who believe in “spreading the wealth around”, believe me when I tell you that price deflation redistributes wealth to its proper stewards.

Jay Seville of JustNewListings.com in the Northern Virginia suburbs of Washington, D.C. sent along this photo of the customs signs he is building for his team.
Lo-tech don’t mean no-tech: Sign calls sell homes. If you’re doing custom signs, let me know. I’m delighted to show off the hard work of hard-working dogs.

You heard that right. Morgan Stanley is predicting that as many as ten million iPads could be sold in 2010. A boatload of them have already been sold, and the iPad doesn’t even ship until April 3rd.
iPad news abounds, of course, and no one needs to be reminded about pudding and eating, all those caveats. But, as with the iPhone, nothing draws a crowd like a crowd. We’re going to see a paradigm shift in computing even if the iPad “bombs” by selling only five million units. My 88-year-old mother-in-law is texting on her iPhone, and, no-doubt, will soon be trolling Facebook for friends and grandchildren. A whole new population of punters is about to join the online world.
Not convinced? I can but smile. We haven’t even gotten to the good stuff yet, because the insanely great iPad ideas will require a few months of hands-on time. Meanwhile, Apple has posted some guided tours to the iPad so you can see what you’re missing.
My posts on the iPad (so far):
- Apple tablet computer announcement liveblogging now…
- The Apple iPad is a category-cataclysm and no one knows it yet: Double-thinking Steve Jobs and his double-suss of the hi-tech marketplace
- iPad observation #1: The iPad is the computer for the rest of us
- iPad observation #2: Find a bigger dead-pool: The iPad eats everything.
- iPad observation #3: If your baby — or a caveman — can figure out how to use the iPad, the user-interface works
- iPad observation #4: Looking for a smart way to connect with your clients in a pull-based marketing world? Update your iPhone/iPad app.
- iPad observation #5: Linking free slaves, sometimes, but the future of mobile real estate is unknown to attorneys from New York City.
- iPad observation #6: “We are all in the gutter, but some of us are looking at the stars.”
- iPad observation #7: When you’ve built a product that turns whole worlds upside down — what happens next?
- iPad observation #8: The death of mediocrity and, along with it, the death of contempt for the consumer
- iPad observation #9: I went digging through the heap of festering garbage that is the Vook and came home with Read more
Hard-working dogs get fed.
(Thank Teri Lussier, a hard-working Bloodhound, for this clip.)
Redfin.com is coming to Phoenix today — 6 am PDT, to be precise. And they’re coming as a VOW, which strikes me as being a potent marketing advantage, at least in the short run. And the news that might be most of interest here: BloodhoundRealty.com is coming along with them.
As I wrote in February of 2009, Redfin is entering new markets with referral agents as well as its own employees. Cathleen Collins, my wife and business partner, and I will be handling one quadrant of the referred territories.
From Redfin.com’s press release:
Redfin today expanded to the Phoenix metropolitan area, increasing the number of listings available on Redfin’s website by 8%. Phoenix is the third market Redfin has opened since December 2009, and the twelfth overall. Separately today, Redfin is announcing upgrades to its listing service, and new support for short sales.
With this launch, Redfin’s site offers customers the photos and marketing materials used to list properties that recently sold, information previously limited to real estate agents. No other website offers this data, known in the industry as Virtual Office Website (VOW) data, to Phoenix consumers. The new data, which consumers can use to develop their own market analyses, became available last year as a result of an agreement between the U.S. Department of Justice and the National Association of Realtors.
Redfin has access to the real-time database used by brokers to list homes because Redfin is a broker that represents customers buying and selling homes. In Cave Creek, Fountain Hills, Scottsdale, Tempe, Chandler and Gilbert, the company provides direct service, employing its own real estate agents. In the East Valley and the West Valley, Redfin relies on partners. Redfin’s search site covers all of Maricopa and Pinal counties.
Cathleen wants the business. We’re growing fast, and she wants to grow still faster.
Greg wants to be an even-more-disruptive disruptor.
But among many other things I might talk about, there is this: Redfin’s internal praxis actually does impose a performance bar on practitioners. It’s the kind of corporate pencil-pushing I’ve always been lousy at, but Redfin tracks and measures everything. Not for pencil-pushing reasons, but in order Read more

Click on the embedded audio player below or read the story on-line. Reporter Peter O’Dowd — a genuine born-here Phoenician and a Brophy Prep alum — spent about four hours, total, with Bill Chipman and me, an amazing commitment of effort. And that photo above? That’s what paradise looks like. We have plenty to go around…
There’s a lot of caterwauling these days. I used to be a libertarian, and still have many friends who hew to that line of thinking. In recent days, my Facebook page has been awash in complaints and claims that the country has turned a corner, that the best years are behind us, and on and on. I had to chuckle.
This is all nonsense. First, it’s a narrative awash in nostalgia for a period when, presumably, peoples’ individual liberty was more or less respected, when the free market more or less reigned, and when the government was small and limited.
Let’s be clear. This country has never had a truly limited government, and if you think so, you should tell it to the victims of chattel slavery, to the men conscripted into armies to fight wars, to those who lived in the Jim Crow south, to those interned at places like Manzanar.
And before you start on about how universal health care is a diabolical plot to destroy your liberties, please take a moment to think about the hundreds of thousands of human souls confined to American prisons for the crime of selling, transporting, or using what politicians have defined as “controlled substances.”
Or the couple hundred thousand held in detention this very day because the U.S. government says they crossed a political border to earn a better living for them and theirs.
There are a lot of injustices in the world. Universal health care, however corrupt and ultimately ill-fated a project that may be, falls pretty far down my list of crimes. Your mileage may vary.
I got out of libertarian politics because, it seemed, a lot of it was built around a commitment to protect a set of institutions that privileged a certain middle class, bourgeois status. Libertarians would go on and on about the horrors of the capital gains tax, or the injustice of Social Security, or stupid regulatory rules.
But while many of them would give lip service to the idea of ending deep injustices – like the war on drugs – so few Read more
Reach out and touch slavery, y’all.
Even Those Financial Gurus You Know And Trust Can Be Wrong
This weekend, I caught part of a nationally syndicated financial talk show on the radio. While I appreciate and agree with much of what the host usually has to say – this was one of those times that I found myself yelling at the radio.
A home buyer called into the program with an issue where she felt that she was going to lose her earnest money because her 21-day financing contingency had expired – and she was unable to get a mortgage.
The host thought the 21-day financing contingency was too short… and told the caller that she should have had an attorney negotiate the terms of the contract – and at this point in time, she should renegotiate the terms of the financing contingency.
Well I’ve got some news for you, sunshine.
Unless your attorney is offering to pay top dollar for one of my listings – you won’t see a financing contingency from my clients that exceeds 21 days… and it will be highly unlikely that you will see my clients sign away their liquidated damages by extending that contingency.
Years ago, it was common to see financing contingencies that continued right up until the closing date… but that was then – and this is now. Back then, if the buyer could fog a mirror – they could get bought. Not so these days.
As a consultant to my home selling clients, I find it my duty to protect their interests to the best of my ability… and that includes negotiating the financing contingency in such a way as to provide liquidated damages of having a property removed from the market by a buyer who can not complete the transaction.
Just because you hire an attorney to negotiate on your behalf doesn’t mean that the other team is going to lay down and let you run them over.
This blog post is an informative blog post for people who purchase their own real estate signs; other’s need not read any further. For years, Worthington Realty, Manitowoc have put up with under engineered, cheaply made real estate signs. Looking high and low, nothing was on the market which needed to meet the following requirements.
1) Guaranteed not to lean, tilt, or fall over
2) Built to last
3) Fashionable looking
4) Easy to install
5) Light in weight
6) Reasonable cost
Fast forward two years and dozens of experiments, Worthington Realty has got it! The first real estate sign guaranteed to stand straight up tall just like the day you put in the ground. Worthington Realty consulted with visionary fabrication guru’s to create the ultimate in real estate sign technology. We’ve perfected the anchor which attaches the post to the ground. The anchor weighs approximately 20lbs which is extremely light compared to what was originally engineered.
Worthington Realty is looking for the industry public opinion. Is there a demand for a real estate sign guaranteed to stand tall like the day you put it in the ground? What would you pay for an item like this? Can you imagine putting a sign in the ground and knowing you’ll come back to it standing tall? What are your thoughts? Worthington Realty would greatly appreciate your input. In our office we are not perfectionist or genius by any means, however we shoot for the stars making every single day count. Thank you in advance for you input and advice.
Score one more screw up for the Government-Banking Complex…and watch mortgage brokers thrive because of it.
Andrew Duncan of Keller Williams in Tampa, FL reprinted a Mortgage News Daily story:
As part of the changes to the Real Estate Settlement Procedures Act, borrowers can no longer shop for a home with a firm loan commitment in hand. While that might not be a big deal in today’s buyer’s market — it could give cash-rich buyers an advantage when sellers are back in the driver’s seat.
Under the new RESPA rule, a lender cannot perform income, asset and credit verifications until the prospective borrower has received a Good Faith Estimate, Patton Boggs LLP Partner Rich Andreano told MortgageDaily.com in a telephone interview. Andreano is a RESPA expert with nearly 25 years’ experience who advises mortgage bankers, mortgage brokers and other providers of mortgage-related services about regulatory compliance and transactional issues.
What this means is that mortgage lenders will be forbidden from performing normal income and asset verifications, or seek permission to perform those tasks, without issuing a binding Good-Faith-Estimate of loan fees. Pragmatically, this means that most large, direct lenders will not want to commit to the fees until they know the exact loan amount and purchase price.
One more reason to do business with a mortgage broker. Mortgage brokers don’t fund loans, they arrange them. What mortgage brokers do have in their arsenal is all the pre-approval tools needed to secure an automated underwriting approval. The new good faith estimate favors brokers because it allows them to fully-disclose the fee they earn for arranging that loan, while putting a time limit on the rate.
Andreano explained that HUD’s position is that verifications cannot be performed until the borrower has been provided with a GFE. But if a loan commitment is issued and the property costs vary significantly — the lender cannot revise the GFE.
“What you can’t do before the consumer gets a GFE in their hands is you can’t ask them to give you any verifying documents, nor can you ask them to give you authority to verify,” he stated. “The lender would be stuck with the cost Read more
In some ways, my stengths – I love to tinker with eletronics, am Internet savvy, know a little about marketing – are my weaknesses: I like to do things myself, or at least like to fully understand exactly what someone working for me is doing so that I could take it over if need be.
Witness my web performance. I’m doing pretty well right now, with top rankings on Google etc. I’ve done that largely because the competition is so miserable. But what I really want to do is lay waste to the competition: to succeed in ways that don’t depend on them being incompetent.
I also want to convert every single visitor into a client. I want to build all the important relationships as well as can be done on the web, and close the deal on the phone.
I feel the press of time for two reasons. I’m in my mid-30s, and have certain financial and personal goals that require me to figure this all out… soon! and then keep moving on and figuring other things out!
Second, I think the legal profession is going to be awash in smart, hungry lawyers who had planned to take a firm job, but now find that firms are imploding around them. These people are going to eat my lunch if I don’t catch it first.
Anyhow, onto the mundane. I sort of like the overall look of my Raleigh criminal lawyer website. But I suspect that just cause it looks slick, doesn’t mean it’s getting the selling job done.
With my Raleigh bankruptcy practice, I’m sort of am heading in a Thesis/Headway direction, with a more robust, less graphically designed theme, that, by all accounts, better for SEO and flexibility reasons.
In addition, I suspect that that flexibility will allow me to do a better job of pulling in visitors, 77 percent of them bounce on the first page.
Thoughts?
