BloodhoundBlog

There’s always something to howl about.

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February 20, 2008

Besides that Mrs. Davison, how did you enjoy the post?

by

Chicago Broker Owner Realtor | RE 2.0 Blogger

Author website

I think I first realized we exist in a quirky, if not passionate and divided adult society when I found myself in a lecture hall observing an assistant professor and a fellow graduate student nearly coming to blows over a Henry James excerpt from the aptly titled,  An International Episode.  I watched on as a confederacy of my peers and elders; some undergrad, some doctoral, some by proxy—chimed in from the gallery seats as the two went at each other, a coffee breath’s apart.  Before long, the entire crowd seemed to join in, taking sides on what does and does not constitute a cultural faux pas and whether James himself, a man already dead for 72 years, was a genius or an ass.  

It was like a Pulitzer prize fight gone wild, only everyone was wearing turtlenecks and corduroy.  I was proctoring the lecture to make up some lost hangover hours from another class.  The whole Henry James dialectic was over my head to begin with,  so who was I to judge, one way or another, who had the longest literary wiener?  I fancied myself a sports writer, a true reporter of facts…(as I understood them, of course.)  That was more than 25 years ago and the memory all but faded away…

…only to resurface this week as I got sucked into the Comment Section vacuum of  a thousand faceless internet voices.  I think we all know of what I speak so no more linkage.  It intrigues me when I witness, walking past the bar of course, the same, aforementioned ardor present in, let’s say… the wide-screen crowd watching a televised sporting event.  I’m always curious as to why these raving fans, dressed in home team regalia; scream, curse and cheer for or against a particular team or athlete (or candidate, for that matter) who doesn’t even know they exist. Like the Chazz Palminteri character, Sonny,  says to C,  in A Bronx Tale,  

“Why you care about Mickey Mantle? He don’t care about you…” Willing suspension of disbelief can be, well…disbelievable, I guess. 

I played sports, albeit Division III, well into adulthood and I’m here to reiterate what the majority of us should already know; most noble opponents, whether professional, amateur or literary, leave it at the field once the game has ended or the last shot has fired.  It’s Read more

February 20, 2008

What would you expect for the BloodhoundBlog Unchained keynote event? How about two sharp minds, two sharp wits, exploring two very different points of view — all for your benefit?

by

Suburban Phoenix Real Estate Broker

Author website

BloodhoundBlog made its reputation, from the very beginning, digging up bones to pick with vendors. And of all the vendors that I, personally, have picked on, surely the one I have picked on worst is Redfin.com and its CEO, Glenn Kelman. But of all those vendors, of all those exalted CEOs, only one has come here to beard the Bloodhounds in our own kennel. And only one has called me after hours at home to try to help me see his point of view.

That one, solitary maverick CEO? The incomparable Glenn Kelman, of course. Call him what you will, he is sui generis, an entirely unique specimen.

And because — take him as you find him — he is unique and smart and funny and thoroughly original, I am proud to announce that Glenn will be joining us for BloodhoundBlog Unchained, the Social Media Marketing conference we will be hosting for real estate professionals in Phoenix from May 18-20.

Kelman will be one half of our keynote event, a presidential-style debate on New Wave versus Old School Real Estate Brokerage.

And who will be defending the more-traditional strategies of residential real estate representation? None other than the matchless Russell Shaw, mega-producing Realtor nonpariel.

But wait: If you’re expecting a food fight, put down those mashed potatoes! Both of these gentlemen are too bright and too self-assured to get bogged down in acrimony or name-calling.

Here’s what you should expect instead: A moderated debate with introductory speeches, responses, and then a flow of questions and answers from a panel of real estate luminaries — and directly from the audience. The purpose of BloodhoundBlog Unchained is to explore the intersection of Social Media Marketing with personal and direct marketing, so we know going in that there is validity on both sides of the debate. We will benefit from the diverse viewpoints of two masters of the real estate marketing craft.

Plus which, it should be a boat-load of fun. Both men are naturally funny, both possessed of a sharply poignant yet charmingly self-deprecating wit.

Even so, their debate probably won’t be a love-fest, either. But if something in the middle Read more

February 20, 2008

Is There Actually A Sky Up There Anymore?

by

Realtor, Audio Engineer

Author website

I listen to misery and woe almost daily. There are plenty of Chicken Littles out there reporting that the sky is falling. And it is! There’s no doubt that the real estate market is in the tank in many places in the country. It certainly is in my neck of the woods. The question needs to be not, “Why is the sky falling?” or “Is the sky actually going to touch the ground?” or even “Is there a sky any more?” but “What do I do with this new reality?”

In my market, equity is a very rare thing. The area that I service primarily is a relatively new area of metro-Phoenix. So new, in fact, that there are very few people who have any equity left. Unfortunately, many of them are throwing up their collective hands, and thinking something like this:

“My house in not worth anywhere near what I paid for it. It will not be worth what I paid for it for a very long time.  There are tremendous houses out there that are much better, much bigger, and more upgraded than mine, that are offered for sale for way, way less than I owe on my house.  Let’s see. . .I’m paying $2500 per month on my mortgage. The market is glutted with rental properties that are better than mine, and I can rent them for about $1,000 per month. Think of the money I’ll save! It makes financial sense for me to kick my house to the curb, go rent a better one for half-price, let the market continue to go into the tank, then buy a better one a few years down the road. What will I lose? My credit? Credit comes back. My mortgage interest deduction? Pah. . .a measly sum compaired to what I’ll save each month on payments. Sounds like a plan to me. . .”

An unethical plan? Sure, but one that is ultimately appealing. Who said unethical was synonymous with unappealing? This is just the people who are manufacturing a crisis to get out of an unfavorable position. There are plenty who are facing a real Read more

February 20, 2008

It’s about RELATIONSHIPS….

by

The Real Estate Group, Virginia Beach and Chesapeake VA

Author website

Those who know me online KNOW that I am all about relationships.

That’s my currency and my value to people is my word. As contests like the GREATEST REAL ESTATE AGENT IN THE WORLD unfold…sometimes all you can do is correct things as they go…

Bob Wilson from San Diego and a couple of others did me a great service yesterday by clarifying something for me. He enquired about whether he would get a link back from my page AFTER the contest was over (with a bio and a picture for being one of the greatest real estate agents in the world). I indicated that he would.

In doing so, it “could” be claimed that I violated the spirit of the competition…I do NOT want to do that in any way… Sometimes you have to CLARIFY positions as you go and for me it is time to make things clear.

The true benefit that you get from joining my team is that you can work with the best of the best in building AUTHORITY online. This is NOT about trading links and has never been. We have learned more together as a team and formed some great relationships. (Wanna join us and LEARN together?) That is what it is about. If you linked to me in the hope of getting a link back:

PLEASE take your links down. I do not need that kind of help and I humbly apologize for the misunderstanding.

Here is what I hope:

That you can SEE the sincerity and HEAR the honesty in what I am writing and that because I am being totally upfront about this you will still want to participate. In fact, if you really want to be part of TEAM Eric…simply start building some on line authority and pass it to us.

And thanks Bob for pointing it out in the email to me last night. When I make mistakes I try to correct them quickly. I had to talk with existing team members to make sure that they had no misunderstandings as well.

I will be posting this same message on several places on the web in Read more

February 19, 2008

Greg Swann Is Right

by

Mega-Producing Realtor

Author website

I thought that post title would get your attention. I’m not a regular lawyer. But it does seem odd that no one has even dared to ask the obvious question, “Is liar liarMarc Davison a Little Nebbish”? Please understand, I am not saying that he is a little nebbish. But if Greg calling Marc a little nebbish is what got this whole mess going, I think it is a valid question. Why the big fuss over Greg calling Marc a little nebbish? Of all the things Greg has said and done it seems a bit odd that it is now important to unsubscribe to BHB and or stop posting here. I guess advocating the end of the NAR or all state licensing laws or all mandatory continuing education or the end of dual agency, not to mention the separation of the buyer agent commission from the seller – each and every one a common and typical and startling, in your face, post from Greg Swann. Lets see, this is the guy who went from just starting his blog to one of the most highly read real estate blogs in existence in less than a year – and this little faction of the real estate community is just now announcing, “I’ve unsubscribed”.

Yes. I found it interesting, thought provoking reading this past year but now that he has called Marc a little nebbish – hell, that is going too far. I will never read it again. Never. I’ve unsubscribed. Me too. Me too. Me too. Me too. Me too. Me too. Me too. Me too. Me too. Me too. Me too. Me too. Yes, I am also one of the original thought people who just now decided that this was simply too much. Too far. No more Greg Swann or anything on his blog. I will never read it again and will get the existing writers there to also leave him. That will teach him. All 50 or 60 of us are G – O – N – E. Gone. Forever. Never again.

Wow.

Wow. Also, I don’t believe the never again part. Each person who Read more

February 19, 2008

Vertigo by map mash-up: How to spin your way around the globe

by

Suburban Phoenix Real Estate Broker

Author website

There’s Grant’s Tomb, looking a little scruffy in Riverside Park in Manhattan:

And here’s your chance to take a truly dizzying tour of the Guggenheim Museum:

These images, and many more, are brought to you by 360cities.net, a Google Maps mash-up of 360 degree panorama shots from all over the world. Probably more useful for fun than for real estate — but it’s definitely fun.

Tipped: Google Blogoscoped.

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February 19, 2008

Down Payment Assistance is another creative financing option you can deploy to make sure yours is the home that sells

by

Suburban Phoenix Real Estate Broker

Author website

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

 
Down Payment Assistance is another creative financing option you can deploy to make sure yours is the home that sells

It’s a hard world for home sellers right now. It’s possible that things are slowly getting better, but a qualified buyer still has at least ten suitable homes to choose from.

Does this mean you might sell now, or you might sell a little later? Probably not.

Does it mean you might sell for your price, or you might have to accept a little less? Probably not.

What it means is that, if your home is not the one that answers most of a potential buyer’s needs, it probably won’t sell at all in this market.

We’ve talked before about being the most appealing — best priced, best prepared, best presented. These are the homes that will sell to the best qualified buyers — while the near-misses languish month-after-month.

We’ve talked about using seller-financing to help less-qualified buyers. Carrying back a note for a third mortgage entails a risk of loss, but, again, that marginal difference can be moot if the house wouldn’t sell otherwise, or if it sells months later for a much lower price.

There is another creative financing avenue you can pursue, although this one comes with an assured loss to the seller. It’s called Down Payment Assistance. Through programs like AmeriDream or Nehemiah, sellers contribute a portion of the sales price to serve as down payment or closing cost assistance to the buyers, who receive those funds at close of escrow as a grant.

This is what I call Psycho Lender Math at its worst, since the lender is permitting the sellers to discount the home by a huge percentage while pretending that that same pile of money is coming to the buyers as a grant from a neutral third party.

The house still has to appraise for the full purchase price, so it really is just a seller discount disguised as a shell game — but if it means your house sells while all the others languish, you still might be ahead of the Read more

February 18, 2008

The Light At The End Of The Tunnel Is Really An Oncoming Train

by

Associate Broker

Author website

Snowball Effect Continues To Negatively Affect The Housing Market

We might be in for a bumpier ride than previously thought. I believe in optimism – but I am a realist, first. As I look closer at the stats, talk to other brokers and agents, and peruse the news and blogs – it’s getting downright scary.

Last week here in Atlanta, Century 21 Dwellings closed five of its six offices. Dwellings President Chris Ballard said, “It was a financial decision. I was losing money at every location.” With red ink flowing at the rate of $75K a month – you can appreciate his decision.

I recently discovered that a few of Atlanta’s top agents were getting killed, as well. Agents that had done hundreds of sales per year no longer able to hit a hundred sales in the last 12 months.

Speaking with a few builders has been interesting, too. My first inclination is that the availability of labor must be plentiful and cheap – but that’s not necessarily the case. Many of the illegal aliens have returned to Mexico. One Mexican contractor – with six trucks – now only has one in service at any given time… and even that one isn’t always in service.

The dirty little secret is that many of these illegal aliens were able to purchase homes – but with no work, they are simply leaving the house behind as they go back to Mexico. It’s not like they are out a lot of money, either. Many of them were financed with “no money down” mortgage products, including option ARM’s.

Atlanta has seen an average of 3000+ foreclosures per month for several years now – but last month we had just under 7000 foreclosures… and the storm is still coming.

Foreclosures are the lion’s share of the Atlanta resale residential market right now, and with the onslaught that is coming – that fact won’t be changing anytime soon in this writer’s mind.

So I am into the bunker mentality right now. I haven’t taken on any clients that I am not convinced that I have a better than 50-50 chance of earning my Read more

February 18, 2008

The Odysseus Medal: Amy Winehouse is not in the house

by

Suburban Phoenix Real Estate Broker

Author website

Judging this contest, I get to read a lot of talented writers. But only one can connect Amy Winehouse to real estate and have it all make the most delightful kind of sense. The Odysseus Medal this week goes to Geno Petro for She tried to make me buy a rehab…:

Truth is; I can barely swing a hammer….Let me rephrase that; I can swing the hell out of a hammer but just not in a constructive way. I am not the fixer-upper type, in case we haven’t met. (See mug shot above for clarity.) I probably err to the side of demolition, if anything.

That being said, my lovely wife (and occasional muse) found a possible second home that in theory, could fulfill our retirement needs during those forthcoming platinum years that Dennis Hopper pitches on the Ameriprise commercials during prime time every night. All things equal, he’s my favorite corporate sell out so far this century, that Dennis Hopper.  Cool, quirky and rich beyond words, for sure.

“60 is the new 40,” exclaims my man, sharply dressed in black, The Spencer Davis Group blaring in the background, and looking unlike like any beshaded 72 year old cat I’ve ever met.  And I’m all over it. According to DH, I’ve got 40 more good ones ahead of me. According to his math and blueprint for living, I’m barely 34.  When he comes on the plasma in high def I get a sudden urge to run out and invest in something spectacular before I lose another precious second. I yearn to  join the expedition, or at the very least, embark on the journey to financial freedom.  After all, one man’s destination is another man’s starting point. Ask any truly wealthy person (9 figures+ by my definition) and I’m certain he will tell you as much. “It’s the journey, not the…” whatever.

But the ‘hidden gem’ my wife came across this past weekend, a shack on the Tennessee River, needs some serious attention; more attention than I’m prepared to pay for, quite frankly. She found it on the Film Location site our own house is registered with (unbeknownst to me until a few months ago). And in case you didn’t know, there is a market Read more

February 18, 2008

The Two Sins Writers Commit That Business Bloggers Can’t Afford

by

Commercial Real Estate Finance Expert
Structured Debt and Equity
Licensed Real Estate Broker in AL, CA, and FL

Author website

Here are two tips to help you avoid failure in real estate/mortgage weblogging:

1- Don’t commit the first sin; being boring. Make doing business with you fun for your customers. NBC Radio did a survey of radio personality Howard Stern’s audience. Half loved him and half hated him. The former group listened for an average of something like 25 minutes, the latter listened for something like 47 minutes. The reason both groups gave for listening? They wanted to see what he was going to say next.

Consider this first post:

Mortgage rates have declined some 1/2 of 1% in the past two weeks. We advised you to float your rate, back on December 27, 2007 but I warned you that the decline may be short-lived.

Lock all loans at application. If you have a loan in processing, and are floating the mortgage rate, lock your rate. The worldwide liquidity injection has had its desired effect. The anticipated Fed rate cut, on January 30, 2008, is already built into the pricing. there is more risk to mortgage rates rising than there is reward for holding out for a lower rate.

BORING!!!! What the hell was the author thinking? Now, let’s see what happens after he asked his readers what was wrong (fortunately, they gave it to him straight):

I fell in love with ARMs again, after a five month hiatus. Hey! It’s Valentine’s Day so I can tell you a love story. This love affair has been going on since I was in my 20s. The sexy allure of adjustable-rate mortgages were replaced by the stability of that old battle-axe, the fixed rate loan. The culprit was the flat yield curve. I dig curves so my eyes popped out of my head when I opened my e-mail this morning.

Adjustable-rate mortgages walked into my life like a wild-eyed, long-haired, bombshell on a Harley, toting a bottle of tequila. Normally, I balance her beauty with the risk she presents but I promise you, she’s a changed woman. This time, she promises to stay put for a ten-year period. Frankly, ten years is plenty of time for me to Read more

February 18, 2008

Three important real estate questions for an early Monday morning

by

Suburban Phoenix Real Estate Broker

Author website

Another killer day yesterday, almost 1,600 unique visitors on a Sunday. We’d have been lucky to have half this on a Sunday two months ago — and we were doing great then!

Just everyday content — lender stuff, Realtor stuff and the long tail. But here are three interesting questions to ask yourself this morning:

1. In the greatest real estate agent in the world contest, how did Greg Boser get to be number one — for now?

2. Why is Eric Blackwell going to win the contest in the end?

3. If you have a geographical listing farm, how can you dominate every possible search term referring to that farm with multiple page one entries?

Eric already figured out the answer to question number one, and he may or may not share his results with you.

I think he’s pledged to tell you the answer to question number two, once he wins the contest.

For the answer to question number three, you’ll have to come to Unchained. As before, I’m not terribly interested in being your buddy, and I for damned sure don’t want to be your wet nurse. But we have some brand new ideas about driving traffic — just the kind of seeing around corners ideas you expect from BloodhoundBlog. If you’re in business to make money, we’re going to show you a better way to be found by your clients — and a better way of working with them once they find you.

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February 17, 2008

Just as a reminder, the theme song for the upcoming BloodhoundBlog Unchained Social Media Marketing Conference is “I won’t back down” by Tom Petty

by

Suburban Phoenix Real Estate Broker

Author website

Oh, good grief.

Normally, when the RE.net goes through one of these public breast-beating episodes, I just stay out of it. I don’t read the posts, first because they’re stupid and comical, and second because there’s nothing that I’m going to say that’s not going to fan the flames. The arguments always turn on the Fallacies Tu Quoque and Two Wrongs Make a Right, as do all appeals to the mob, and people running in mobs are just an embarrassment to the idea of being a human being.

This is unintentionally hilarious, though, so I thought I’d quote it. If you don’t know what’s going on, I promise you it does not matter.

I’m going to leave my opinions out of the discussion in order to leave more space for these people to see the error of their ways, apologize profusely, and re-enter our community in a constructive manner.

Permit me to introduce myself. My name is Greg Swann, founder of BloodhoundBlog, which is justifiably famous for telling the straight truth, and this seems like an apposite moment to remind you that the theme song for the upcoming BloodhoundBlog Unchained Social Media Marketing Conference is “I won’t back down” by Tom Petty.

Here are the Heartbreakers performing that song at the Super Bowl:

If you’re looking for buddies — kindly folks who will forgive all your short-comings, at least until it becomes expedient to turn on you — this is probably not the place for you. If your plan is to commit egregious acts of cupidity or stupidity and somehow escape withering criticism — change the channel. If you entertain a Romper-Room-like dream of playing placidly with all the other special kids on the short bus — you’re on the wrong bus.

If, on the other hand, you want to learn how to organize your working life so that you never again have to take shit from morons, you’ve come to the right place. We are all about the ninety-and-nine here, and we are all about the work — deploying better ideas to do our work better, faster and more profitably. I don’t go out of my way Read more

February 17, 2008

The Odysseus Medal competition — Voting for the People’s Choice Award is open

by

Suburban Phoenix Real Estate Broker

Author website

We have 18 entries on the short list this week, out of a long list of 74 posts.

Vote for the People’s Choice Award here. You can use the voting interface to see each nominated post, so comparison is easy.

Ahem: Please don’t spam all your friends to come and vote for you. First, what we’re interested in is what is popular among people who would have been voting anyway. And second, I’ll eliminate you for cheating. Don’t say you weren’t warned.

Voting runs through to 12 Noon MST Monday. I’ll announce the winners of this week’s awards soon thereafter.

Here is this week’s short-list of Odysseus Medal nominees:

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“Brian Boero — Partial vision Partial vision“,
“Brian Brady — Are You Blogging For Speed? Are You Blogging For Speed?“,
“Dan Green — Ignoring Adjectives How Ignoring Adjectives Can Improve Your Understanding Of Mortgages“,
“Dan Green — Mortgage Rates Why Mortgage Rates Don’t Look Like They’re Coming Back Down Any Time Soon“,
“Geno Petro — She tried to make me buy a rehab She tried to make me buy a rehab…“,
“Harvey Edgecombe — Barack Obama versus the US Economy Barack Obama versus the US Economy“,
“Jay Thompson — Dale Stinton Stops By NARWisdom.com NAR CEO Dale Stinton Stops By NARWisdom.com“,
“Kris Berg — A lesson in push(y) marketing. A lesson in push(y) marketing.“,
“Kris Berg — In sickness or in health In sickness or in health – It’s viral.“,
“Mike Farmer — Due Diligence and Real Estate Due Diligence and Real Estate“,
“Mike Farmer — The Religion (Tyranny) of Niceness The Religion (Tyranny) of Niceness“,
“Mike Price — Armchair Quarterbacking Real Estate 2.0 Armchair Quarterbacking Real Estate 2.0“,
“Morgan Brown — McCain’s Mum on Mortgage Reform McCain’s Mum on Mortgage Reform“,
“Morgan Brown — New conforming limits New conforming limits – what will it do to jumbo loan rates?“,
“Nick Bostic — Save the World (and some money) Save the World (and some money)“,
“Teri Lussier — The training of the shrewd The training of the shrewd“,
“Todd Carpenter — Why Google Page Rank Matters Perception Is Reality, Why Google Page Rank Matters“,
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    • February 17, 2008

    Highly linked

    by

    Marketing Provocateur

    Author website

    Daniel Gross writing in Slate on how things got so, well, unchained. Key bit:

    And so, since the bubble popped and home prices ceased to rise, desperate players in the market have taken a series of actions intended to delay price discovery in housing. Rather than cut prices, sellers began to throw in free cars or other inducements to buyers who paid the asking price. Brokers reduced their commissions. Builders started including all sorts of extras (fancy kitchens, pools, etc.) for no additional price. Every link in the chain sacrificed margins and profits rather than cut prices.    

    While I know most of you looking in are industry professionals,  I found the writing crisp, the thinking clear, and the piece instructive reading for the rest of us in the run up to BloodhoundBlog Unchained on May 18th.

    February 17, 2008

    The Religion (Tyranny) of Niceness

    by

    Real Estate Broker

    Author website

    The forms of tyranny we’re most familiar with are the examples of power and ruthlessness over the more genteel and non-violent. Countries without wide acceptance of rule of law and binding constitutions usually fall under the control of the most vicious and powerful gang.

    But here in US, we’re more civilized, we fall under the control of niceness, PC and the egalitarian urge toward mediocrity. Many can hardly wait for those who rise to fall, those who succeed to fail, those who achieve to lose and those who speak a raw truth to be silenced. Pleasantville is home town and the middle is a feel-good state of mind.

    However, even in Pleasantville the human trait for dominance exists and niceness is a large, sharp sword in the hands of those who would control through kindness. Those who fail the test of kindness are enemies of the state (of mind). Those who are most kind are the leaders – their subjects strive to be more kind and they hate the unkind. Who are the unkind? Well, that’s usually decided by the leaders of the kind and depends on alliances.

    The irony is that the kind can be unkind if it’s for the greater good of the kind, because niceness is subjective and must be determined by the wisdom of the leaders of the kind. Usually the unkind are those who think and act differently than the kind. If the kind believe that group support of self-esteem is more important than honesty, then those who say anything detrimental to the self-esteem of a member of the kind is unkind and therefore not nice, an enemy to be destroyed, even if they are destroyed by unkindness. It’s for the greater good of the kind.

    Who doesn’t want to be kind? The number of kind is many because kindness is a virtue and niceness is the religion of the kind. Sometimes the unkind have done nothing but speak their minds, yet in speaking they’ve crossed the line of acceptable honesty and violated the code of kindness and therefore a legitimate target for unkindness for the sake of survival of Read more

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    Inventing Real Estate 2.0

    Welcome to BloodhoundBlog, the national real estate industry marketing and technology weblog written by, for and about real estate professionals. Better yet, welcome to the wired world of real estate. We are busily inventing Real Estate 2.0 – technology, marketing, service and salesmanship. Like all Bloodhounds, we are smart, frisky and fiercely independent. We've built a spot on the earth – beloved over all – where each one of us can be who we are, no matter who that might be. We are committed to an idea of excellence that will flush the bums, the con-men and the crybabies out of the real estate industry. If you yearn to have your failures excused, your moral lapses absolved or your boo-boos kissed, seek elsewhere. But if you are sick to death of mediocrity – welcome home. Read all about us, subscribe to our feed and steel yourself for the hunt. We work hard, we play hard, we learn everything we can – and we bow to no one.

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