There’s always something to howl about.

Month: November 2008 (page 6 of 6)

How Will the Party End?

Growing up as a kid, I remember my mom and dad throwing a lot of parties. They were the kind of folks who liked to “entertain”. It seems nobody entertains like my parents these days. It was usually on a Friday or Saturday night – my mom would order pizza – her hair in rollers – and my brothers and sisters and I would eat before 6. Immediately after dinner, it was bath time. Once upstairs we’d be relegated to the master bedroom and forced to watch The Brady Bunch on the black and white TV set.

Unless we were dying, we were not to set foot on the stairs – God help us if we ever set foot on the first floor.

Sometimes we’d sit at the top of the stairs and listen in on the festivities. I knew when mom had one too many Manhattans because she’d whoop it up – her laugh was the loudest. You knew things were getting good – the noise level would increase and the laughter became louder and more frequent. It wasn’t a real party unless the cigarette smoke began to linger in the upstair’s hallway.

Everybody liked my parent’s parties.

I remember one party in particular – it was a family party – a rare event – the kids were included. My mom was the consummate hostess – she used to use the “good stuff” – silver-plated footed bowls for snacks, sterling silver cutlery and china for dinner. Back then when people entertained, it was more of a production. Mom could have won an Oscar – everything was just so.

Even at a young age, I was a rabble rouser. My younger brother Mark and I concocted a plan to replace the mixed nuts in one of the silver bowls with a spicer snack – something with more kick – one that would really add some zest and zing to the cocktail hour.

Our secret? Why Gravy Train dog kibbles of course.

Mark was instructed to nonchalantly remove the bowl from the Read more

Writing an office policy manual for Real Estate 2.0

As part of our current ongoing “expansion”, for the last few days I have been trying to cobble together something that resembles a real estate company policy manual.

I am going to post a few of my policy manual paragraphs here, in the hopes that my Bloodhound friends might suggest revisions or additional thoughts.

The issues addressed by these paragraphs aren’t exactly the sort found in sample policy manuals, so I’m kinda sorta winging it here:

Social Media

Salespeople and staff members are encouraged to create profiles and participate in conversations on social media sites such as Active Rain, Trulia, Zillow, LinkedIn, Facebook, MySpace, RealSeekr, MyAgentBook, and others.

You are also encouraged to post frequently on the Company blog at www.bobtaylorproperties.com, and will be given a password and login. (Aside: I hope to make this work for the new folks as a “sandbox” site.)

Listings

In the interest of providing seller clients with a consistent experience, for each listing the Company will provide the following services at the Company’s expense:

  • The Company will create a single property web site with a .info domain name. That will leave the .com domain name available if you wish to create your own additional web site for the property.
  • The Company will create and install a unique custom sign for each listing.
  • The Company will create and print color flyers on standard paper stock. You are responsible for attaching a flyer box to the listing sign, and maintaining a supply of flyers at the property. You are encouraged to create additional flyers of your own design.
  • The Company will generate weekly postings on Craigslist.

So, would you guys write this stuff differently?  What other things would you address?  Thanks!

Social Media And What Matters

Here we are again. There’s a few Social Media (SM) venues that have real estate folks all agog. Between Facebook (FB), Linkedin (LI), and Twitter (T), you’d think agents all over the country have had their careers rescued by the magical powers of SM. Let’s find out, OK?

I preface the following by ensuring you I have no dog in this fight. I’d truly like to find a plausible answer. It’s my guess I’m not rowin’ that boat alone, either.

Yesterday on T I posed the question: Who out there has done at least one closed transaction as a direct result of FB, LI, and/or T? At first all I heard were crickets. Then the conversation began in earnest. Everyone talked about referrals, and leads. Oh my, there were lots of leads. Turns out, much like SEO, bankers don’t accept leads as deposits. 🙂

There was a small handful here who said they’d closed A deal, and were pretty sure of its source being one of the three SM sites.

Then somebody said, “Seems the big hitters out there are being kinda quiet.”

My response to that was that most folks thought of as so called ‘big hitters’ aren’t nearly what they’re perceived to be. Though I’d like to find out there’re agents out there makin’ a consistently impressive killing on these SM sites, I’m skeptical.

To that end, I said I’d pose the question here. What better place?

So, all you agents out there depositing all those commission checks every month because of your skillful use of FB, LI, and T? Make yourself known, OK?

Here’s my experience, though you should know, it’s not much.

I’m not, nor have I ever been on FB. I’m on LI only because a consultant put me their themselves. The damn site irritates me no end. I get invites via email, mostly from folks I already know. That’s cool, right? However, as happened today, (and about 20% of the time) the invite link sends me to a LI page bereft of the ‘Accept’ button. And no, I don’t know, nor do I care why that happens. Read more

Restoring a bargain-priced lender-owned home is easy — if you have cash — but a HUD 203k rehab loan makes it easy even if you don’t

This is my column for this week from the Arizona Republic (permanent link).

 
Restoring a bargain-priced lender-owned home is easy — if you have cash — but a HUD 203k rehab loan makes it easy even is you don’t

Last week we talked about troubled homes and how they can be restored to livability. That’s fine if you’re an investor with pockets full of cash. But what if you’re an ordinary home-buyer? How can you pick up a bargain-priced home and then refurbish it to its former homey comfort?

If you’re buying with an FHA loan, chances are the home is going to have to be at least partially restored before you can close on it. FHA loans require a more-rigorous appraisal, and any defects rendering the home uninhabitable will have to be corrected before you can proceed.

So if the range is missing from the kitchen, it will have to be replaced. If the water heater is broken, it will have to be repaired. If the pool is green, it will either have to be restored to swimmable condition or drained.

Who is responsible for these repairs? Normally, habitability issues would fall to the seller. But most foreclosure properties are sold “as-is” — take it or leave it. If you have cash, you can pay for the repairs prior to close of escrow and then move in as planned.

But what if you don’t have that kind of money?

One solution is to write your repair issues into your purchase contract. If the seller agrees to restore the pool and replace the range, you’ve dealt with the habitability problem in advance.

Another option is to take advantage of HUD’s 203k rehabilitation program. With a 203k loan the loan underwriter can attach what amounts to a construction loan onto the primary purchase loan. So you could buy a lender-owned home for $100,000 and finance an additional $10,000 to refurbish the kitchen after close of escrow. The appraiser will assess the value the home will have after the improvements have been made.

As you might expect, the fine print is extensive, but for an FHA 203k loan in Phoenix your purchase Read more

Defusing the Unabomber: Why individualism will triumph regardless of any temporary setbacks

We spend so much time picking at our scabs that we but rarely notice how amazingly rich we are, and how much richer we are getting day-by-day. There are at least a thousand men and women as smart as Aristotle walking the earth right now. If you are a computer geek, you surely know the name of Donald Knuth, but what you may not have considered is that there are 10,000 Knuths alive right now. If you click on this link, you will read an account of an extraordinary scientific achievement, but the most extraordinary thing of all is how ordinary such accounts have become, how commonplace, how much to-be-expected. We are so rich that we cannot even begin to count our riches.

I wrote this essay just over thirteen years ago, when the internet was very young, but it is apposite, I think, today and every day.

–GSS

 
Defusing the Unabomber

I’ve been trying for a week to write something about the Unabomber and his pesky manifesto, and I can’t seem to get the job done. In this voice, the studious essayist voice, I can’t take him seriously. In the Ramblin’ Gamblin’ Willie voice, the only other style I’m working in right now, I can’t make light of the murder of three innocents.

I can make fun of anything. I’ve been writing Willie stories for ten years, and, with few exceptions, all of those stories ridicule the ridiculous. I have 308 words of a Willie story about the Unabomber. In it, he is represented as a cowboy wino who has just sold a pint of blood and who terrorizes strangers by popping paper bags.

But I can’t work with him in even so grotesque and ludicrous a shape. I think of him and in my mind’s eye I see children making angels in the snow. And then I see those children blown to a bloody pulp for committing the horrid act of creating artifacts of technology.

I see William Shakespeare and I hear him denounced as a mere hobbyist. Was he brother to the Queen? A Lord of the court? A lowly actor with a potent muse? Read more

My Treat

Every so often, Mona and I attend to a close friend’s First Grader while the single mother does her required corporate traveling gig for one of the remaining Fortunate 100 oligopolies. During these few time warped days each month I am thrust into grandfatherly duties which I find to be almost Dali-esque as I, at age 52, can still recall a good portion of my own first school years with vivid, if not shocking clarity–at least the surreal parts; unlike my youngest sister who refers to her similar childhood in the same household as ‘those blacked-out years.’ (And yes, to this day, we both refuse formal therapy, and meds, my sis and I.) Melting timepieces, I’m telling you.

I have nieces, too, who visit Chicago once a year—one teen (demure and traditional) and one pre-teen (iconoclastic from her very first breath). Both lovely, if not opposite in all but genetic ways. I have one daughter (history teacher) who is now 30 and lives out of state and one step-son (a sommeliere) who is 25 who lives in another world. There are some neighborhood kids, of course… and that’s pretty much it. Most of the other unattached people I hang with have already lost most of the hair they will ever lose and, for some consistent reason, are long term participants in one type of 12 Step Program or another–their respective youths totally exhausted; sucked dry to the bone, long ago and far, far away. In other words, I just may lack the experience needed for these incremental domestic duties I’m called upon to perform on occasion. I’m too soft a touch and frankly, don’t have the energy to exert discipline anymore. Just don’t burn down the house or torture the dog. Easy on the cat, too. Pretty expansive boundries, I would think, even for someone as indifferent and mortally aware as myself. But for some odd reason, I think of children as living on forever.

“Uncle Geno, can I have another candy bar?”

“Sure. I don’t care.”

“Can I play with your iPhone?”

“Sure. Just don’t drop it in the toilet.”

“Can I run off with Read more

Mortgage Market Week in Review

I want to apologize for the delay in getting this out until Saturday.   Due to some technical difficulties and some new things I’m going to be implementing, Friday was spent working on computer issues.   Yeah, I know, a fun way to spend a Friday…..

So, here we are at the end of the week and what’s happened?  Well, a couple of things did manage to happen.  We’ll talk about the Fed, what they did, why it matters and why it doesn’t.   We’ll talk about earnings (or the lack of them), consumer spending (or the lack of it), inflation (or the lack of it), bailout backlash, and falling oil prices as well.   So, here goes:

The Fed, as  you know by now, lowered the Fed Funds rate by .5% to 1.0%.   A couple of statistics about that number:

1. As you  know, that isn’t directly linked to mortgage rates, so mortgage rates are not going to drop by .5% because of that move.

2. That is equal to the lowest rate the Fed has had rates this century (from June of 2003 to June of 2004).   If you’ve read anything about what’s happening in the financial world, you’ll know that the former Fed Chairman Greenspan has taken a lot of heat for keeping interest rates too low for too long.    Hmmm, and now we’re back to that same level.

3.  The rate they lowered to is 1.0%.   That means they have very little “ammo” left in their pouch if things deteriorate further.

4. Japan, in the 1990’s, had an interest rate of 0%.   That’s right, banks etc. could borrow money from the Central Bank of Japan (their Federal Reserve) for nothing.  How well did that work for Japan?   Short answer, not very well.

Why does what the Fed did matter?

1. Because in their statement, they essentially removed all mention of inflation being a risk.   For more details on what the Fed said, check out “The Fed Translated.”

2. Because it showed that they are very concerned about the economic conditions not only in our country but elsewhere.

3. Because it raises the question of whether we’re going to see a Read more

Real Estate Blogging hits the NY Times

One of the truly fun things about being a dawg and writing here is when readers communicate with you. I received an email yesterday from Mike Kennedy a REALTOR (whom I had never met) selling homes in Deep Creek Lake, Maryland. (beautiful website BTW-my compliments on a job well done there). He tipped me off to an article in the NY Times about real estate blogging. Thanks Mike, for the the kind words, the heads up, and pleased to make your acquaintance. It is an article worth reading! I promised you a post on the subject and here ’tis!

I was especially drawn to this paragraph of the NYTimes piece:

The first thing that caught my eye were the words “pages and pages”…and the fact that good writing about everything from diners to energy drilling was what helped this buyer decide on his REALTOR. But the other part that grabbed me was the first sentence. Yeah, the one about how the guy FOUND the blog in the first place.

This REALTOR’S website and his blog ranks #2 on Google currently for all sorts of terms. Terms like “catskills real estate”, “sullivan county real estate”, “catskills new york real estate”, etc. That’s key because it was how his blog was found in the first place.

I have said before that a search engine friendly blog (along with a site) may well be the ultimate marketing weapon in the hands of a REALTOR that can write. It is a lethal combination of traffic and stickiness. Ladies and gentlemen of the jury, I enter this article into evidence as proof of that concept. (grin)

We are going to have some good clean fun in Orlando, talking about how to help you get your blog/site to be search engine friendly and rank and get the traffic that it deserves. Seriously. No more or less than that. Nothing that I would not be proud to teach if the folks from Google were standing in the room.

You do not need to try and trick Google (in fact, long term that almost NEVER pays off!). You do not need to be bombastic. Read more