BloodhoundBlog

There’s always something to howl about.

Archives (page 290 of 372)

My Life as a Dog – Author 12

As Teri continues her march toward the prize and is no doubt putting the finishing touches on her acceptance speech, I have reached a milestone of sorts myself. It has officially been five months and one day since my smiling likeness was added to the sidebar of the Bloodhound. Why choose this random milestone to reflect on my contributions here, rather than a more logical breakpoint on the Greg-orian calendar (say, five months and seven days)?

Just maybe, I am messing with Greg. This being Monday morning, I am sure that what he really wants on his front page is the link to the Carnival or an update on SB 1291. I have always suspected that this sort of fluff post really riles Greg, he being the Big Thinker. While he is trying to have meaningful dialogue on issues of national import, I invariably pop in at the most inopportune time with my vacation journal or a picture of my client’s cat. I always envision him pounding furiously and red-faced at the keyboard to bury my contributions with something more worthy of a site with Authority. “Fox News? Greg Swann here. I will be a little late to our interview. She’s posting again”.

Okay, I confess I am not clever enough to be that ornery, at least not intentionally. You see, I have no master plan. I have no plan at all. The fact is, I’ll just never be as global or deep in my reasoning and analysis as our Top Dog. I often imagine Greg posting from a home office which is a scale model of the White House Situation Room, complete with a host of monitors displaying feeds from around the globe. Conversely, my workspace involves a computer, mounds of steaming contracts, the cat’s most recent hairball “offering”, and the Hawaiian Death Idol acquired on our 2004 vacation. (Don’t try to cross me, the Idol has tremendous get-even powers).

And, the Real Estate Tomato says I’m doing it all wrong. They recently talked about the biggest blogging blunders one can make. Reading their top ten mistakes list, I could give point by Read more

The Zillow.com persecution: Why it matters to all of us

Jay Thompson, The Phoenix Real Estate Guy, clued me in to an email he got yesterday, which I was supposed to get as well. Mine didn’t come because the email address was wrong. Jay deals with the substance of the email in the post linked above, but here’s the meat of the matter:

Why are Jay and I, and other principled Realtors, rising to Zillow.com’s defense in response to the attempts at persecution of the net-based real-estate start-up by the Arizona Board of Appraisal?

I speak only for myself, but I can always speak at length about the positions I take. First, it’s important to understand what this is not about, in my opinion:

  • It’s not about Zillow.com.
  • It’s not about real estate.
  • It’s not about appraisals.
  • It’s not about job-protection, although this seems to me to be the objective behind the persecution.
  • It’s not even about Arizona.

I think what is really going on here is the first campaign in a long war to determine whether internet-based commerce will be suffered to grow as it has until now, without restrictions or impediments. Or: Whether the combined forces of power-mad “statesmen,” progress-hating “progressives” and hand-out-hungry “businesses” will be able to break the net to the saddle they have strapped onto every other enterprise in America.

In a sense, I’m not defending Zillow.com’s business, I’m defending my own. I’m about principle before everything, so that doesn’t matter to me, although I do admire the necessary integrity of rectitude: The moral is the practical. But this is so much larger than Zillow that the instant matter blends into the background.

Many of the pioneers of internet technology are hard-line Capitalists, stout defenders of the idea of free enterprise. That’s not universal, but there is also a very strong gut-level libertarianism among entrepreneurs generally.

In fact, the internet has grown so quickly, and so unpredictably, that the reactionary forces determined to tax, regulate or forbid everything have been stymied. A few very far-sighted people have successfully argued against regulating the net, and, meanwhile, the would-be arbiters-of-everything have been held in check by their own monolithic ignorance of technology. People who see the net as Read more

Boston Globe on the enblogged globe: Brokers in Blogsville

The Boston Globe has a feature on RE.net webloggers today. Nothing that will seem to be news to regular real estate weblog readers, but a nice chance to shine for a lot of familiar names. No mention of RCG, Matrix or BHB, but that’s perfectly understandable. When reporters finally resolve to pay attention, they become webloggers.

Technorati Tags: , ,

East Valley Tribune slams Board of Appraisal over Zillow.com censorship, endorses Reagan amendments to SB 1291

In general, newspapers influence people who are paying attention, a small but inordinately important minority. Today the East Valley Tribune, clarion of the populous suburbs east of Phoenix, came out strong for Zillow.com and other consumer-oriented Automated Valuation Models:

Arizona home buyers and property speculators are fortunate the state Board of Appraisers did something against their interests while the Legislature is still in session, so lawmakers can act immediately to put a stop to it.

The Board of Appraisers is going after Zillow.com, a year-old Web site that offers free estimates of market values for an estimated 70 million houses across the country. The state agency contends the site is offering property appraisals without an Arizona license, and has ordered it to remove these “zestimates” or face formal sanctions and a possible lawsuit.

But Zillow.com makes no claim that its estimates are based on actual visits to individual properties or research of their histories. Instead, the Web site gathers sale details about other homes in the same neighborhood that have recently changed hands, government tax valuations and other publicly available information, and then provides a rough prediction about a house’s value under current market conditions.

More:

Given recent reports about widespread mortgage fraud and foreclosures resulting from inflated purchase appraisals, the state Board of Appraisers should be working to increase the amount of information available to consumers rather than shuttering potential sources of knowledge.

At least the Legislature appears to see the wisdom of this. On Monday, Rep. Michele Reagan, R-Scottsdale, introduced an amendment to SB1291 that was endorsed by her House colleagues to protect free opinions about property values as long as the provider doesn’t claim or imply that they are formal appraisals.

Putting Reagan’s amendment into law would be a nice endorsement of free speech and the consumer’s right to multiple sources of information.

None of this is news to people following the story here, and, in fact, the most-recent events are not covered. But this is the kind of public outcry that can swing the balance against this silly stunt by the Board of Appraisal.
< ?php include("Zapraisails.php"); ?>

Technorati Tags: , , , , Read more

Sailing the Red Oceans: Real estate start-ups, weblog shut-downs and getting Google to trust your site in advance

I have news, but some of it is getting a little stale. My apologies. I have been buried, not that this is unusual.

As Kris Berg reports in her inimitable way, Redfin has relaunched, rebranded and all but reinvented itself, establishing a beachhead in Boston in the process. As far as I can tell, the big news is the company’s new logo, which features an image of Eve acting on the bad advice of a snake. Every picture tells a story, don’t it?

Sellsius has also launched its product offering, a kind of searchable, semi-permanent, for-pay Craigslist. This looks to me like a Red Ocean, but what do I know?

That much has been reported elsewhere. This hasn’t: Territory Real Estate has launched its flat-fee buyer-brokerage in Boston and greater Massachusetts. Proving the appeal if not the merit of the Red Ocean strategy (first explained to me by Zillow.com’s David Gibbons), Territory immediately goes on the attack — against Redfin.

But: Screw all that. There are matters of greater moment.

For instance, is weblogging headed for an icy, entropic death? TransparentRE says not, at least not for real estate weblogs. This much is obvious: Weblogging is a fad, like CB radio in the seventies. Anyone who didn’t expect it to fall off dramatically was self-deluded. But there are two important differences between weblogging and the ordinary Rubik’s Cube style of fad: First, viral blogging is a new communications medium, the backbone of the alternative media. And second, owners of commercially-motivated weblogs have an enduring interest in persistence beyond fad appeal. The number of weblogs doesn’t really matter, nor does the number of putatively “active” weblogs. Sites that draw a decent number of evanescent eyes from search traffic may generate income for their owners. But, in the long run, the only weblogs that matter are the ones that can attract a stable population of repeat visitors.

Two more and I’m out of time: A WordPress Theme Generator, so you can express yourself with unborrowed tastes. And the irrepressible, irreplaceable Dave Smith with a strategy to suss the Google Sandbox with a Trustbox instead.

To close, here’s a quote for Read more

State vs. Zillow.com will be a lengthy bout

This is me in today’s Arizona Republic (permanent link). This goofy little column often “breaks news” in the sense that I cover facts that have not yet been reported by the Republic‘s real estate reporters. Normally I keep this to myself, because I don’t want to frighten the people who were kind enough to give me the column. This week I told my editor that were were “scooping” the newspaper, and gave him resources for vetting the facts presented below. The consequence? At the top of the story is says, “Special to the Republic.” Top that, Hildy Johnson.

(Just between us, I’m pretty sure I’m mangling the citation of the standing law. It’s Chapter 32, not 36, but even then I don’t know how it should be properly cited. Newspapers have style books for stuff like this. This will do: ARS 32-3601 et seq.)

State vs. Zillow.com will be a lengthy bout

The ongoing saga of Arizona vs. Zillow.com will not end.

When the state Board of Appraisal recently revealed that it had sent cease-and-desist letters to the Seattle Web-based real estate start-up in July and November, it failed to disclose that it had language pending in the Arizona Legislature that would have conclusively outlawed Zillow.com and other consumer-oriented Automated Valuation Methods.

That legislation, Senate Bill 1291, seemed to be on an under-the-radar track to easy passage until its existence was discovered by the LittlePinkHouses.com real estate blog.

The proposed language would have substantially revised Arizona Revised Statutes Chapter 36, among other things defining an appraisal as “an opinion of value.”

Does that mean that two neighbors, talking about the price of the house for sale up the street, would be in violation of appraisal law?

What Zillow.com and other AVMs do is so far removed from what an appraiser does that in order to outlaw Zillow, the drafters of the legislation apparently found it necessary to outlaw ordinary free speech altogether.

Importantly, there have been no consumer lawsuits or Board of Appraisal complaints in Arizona against Zillow.com, nor has the Board of Appraisal moved against other consumer-oriented AVMs operating in the state.

A compromise was sought by Rep. Michele Read more

Houses Grow on Trees – Redfin Continues Quest for World Domination

What do you do when faced with windfall earnings? Reinvest in your business, of course.

Thanks to Cynthia Pang, Redfin’s Senior Communications Manager, for the links to the latest, exciting news. This has been a big week for Redfin! Not only did they roll out a new logo and invade Beantown, but (assuming they have fulfilled their contractual obligations) their San Diego client has removed contingencies and is one step closer to an approximate $13,000 windfall. As the new logo suggests, houses really do grow on trees.

You heard right: Redin is in escrow in San Diego. Taking our beach city by storm since their February 8th arrival in San Diego with much hoopla, this brings the total Redfin “represented” pending and closed sales in the San Diego market to (let’s see, add the column, carry the one) – One. Not being one to brag, this puts my total production during the same period at exactly 1000% more than Redfin’s, but then, I did have a head start. I’m thinking of expanding into the Greater Punxsutawney region next month.

Subprime Loans Disappeared? Learn How to be a Hard Money Loan Broker

Loan originators who have based their business on subprime mortgage products have been feeling the pinch in 2007. Private mortgages or hard money lending may be the solution to your problem.
Four originators gathered with three hard money lenders in our podcast.

The Lenders:

Mitch Zeichner (310) 948-2622 Mitch represents a wealthy family’s portfolio and funds real estate loans for residential properties in California, Arizona, and Nevada.

Dean Huntley (858) 759-9090 Dean is a true “trust deeds broker” and private mortgage lender. Dean represents 70 investors and funds residential and commercial real estate loans in California and Arizona.

We were joined by originators Robb Lejuwaan , Marc Brinitzer , and investor Jon Morrow.

Some important links:

HARD MONEY: Life as a Legal Loan Shark

HARD MONEY: Apartment Loans

HARD MONEY: Beware of the Brokerage Daisy Chain

HARD MONEY: Seven Tips For Borrowers

California Hard Money Lenders

California Mortgage Association

The podcast lasts some 58 minutes and has some static at 35:10 that lasts for 30 seconds. If you are a mortgage originator who is looking for a way to get some business, listen in! It works. I received a report today that an originator and lender on the call are working to fund a loan next week.

First Russell Shaw Sales Success Seminar: Podcast #5

Linked below is the fifth of five podcasts from the First Russell Shaw Sales Success Seminar. This event was held on March 13, 2007, and lasted for about four hours. That seminar, along with another held on April 17, 2007, are precursors to the forthcoming Russell Shaw Sales Success FAQ files. Russell will take questions from these podcasts, along with others you send to him by email, and answer them in a series of FAQ-like video and audio podcasts. His plan is to end up with a complete real estate sales training course in podcast form.

This podcast is available in audio format only.

Technorati Tags: ,

Are you an appraisal scofflaw? Are you sure you know what your client is doing with that Broker Price Opinion?

In all the excitement, I missed this precious little bit of news.

Nota bene:

A concern has been raised that real estate brokers and salespersons are providing opinions of value unrelated to the prospective listing or sale of property.

The horror!

My home is worth $475,000. I have no intention of selling. Come and get me, Coppers!
< ?php include("Zapraisails.php"); ?>

Technorati Tags: , , , , , ,

An Example — How To Answer A Client’s Question

Recently I posted on the subject of how to most effectively answer a client’s or prospect’s questions. Then, as the universe sometimes does, I was asked a question by a brand new client that is pretty common. On its surface the question might seem facetious, but trust me, its been asked so many times in my office, I know that’s not the case. It usually goes something like this:

We’ve now banked the $100K from the refinance on our home. But Jeff, we were thinking. How much could it hurt to take just $20K out in order to get (fill in the blank) a new boat, truck, home landscaping?

These days, since I’ve heard variations of that question so many times, I begin by answering with a question, hoping to inject a little humor. I might ask — Will you be able to sell that (fill in the blank) for a million bucks 15-20 years from now?

When I pause to enjoy the RCA Dog look on their faces, I then begin to give them a very complete and substantive answer in rich detail. Though I posted it on my blog today, I’ll give you the short answer here.

yacht

In 15-20 years that $20K will likely be directly responsible for an extra $80,000 a year or so in retirement income. If you retire at 60 and live another 20 years, that’s $1,600,000 of retirement income — over and above what the rest of your initial investment capital produced over that same period.

Less than half of my clients will ever earn $80K a year on their job. And now they can have that much extra every year in retirement.

Unless of course, 20 years earlier they decided their new boat was worth $1.6Mil in extra retirement income.

Final note — I sent the link to my blog’s post to the client who most recently asked that question. His response? One word — Awesome!

And that’s how you answer questions.

First Russell Shaw Sales Success Seminar: Podcast #4

Linked below is the fourth of five podcasts from the First Russell Shaw Sales Success Seminar. This event was held on March 13, 2007, and lasted for about four hours. That seminar, along with another held on April 17, 2007, are precursors to the forthcoming Russell Shaw Sales Success FAQ files. Russell will take questions from these podcasts, along with others you send to him by email, and answer them in a series of FAQ-like video and audio podcasts. His plan is to end up with a complete real estate sales training course in podcast form.

This podcast is available in audio format only.

Technorati Tags: ,

What this state needs is more public ridicule! Arizona House to reconsider Zillow.com-proofed bill on Monday

The news is simple enough: “Representative Stump moved that the House reconsider SB 1291 on Monday, March 30, 2007. Motion passed v/v.” That last little bit says the motion passed on a voice vote.

This again would be the Third Reading. If the amended bill passes by a two-thirds majority, it would have to go back to the State Senate for reconsideration, where it would also have to pass by a two-thirds majority.

Of course, Arizona has always drawn huge guffaws in the monologues of late-night talk show hosts, so we may just want to wait for Leno or Letterman to pick up the story…
< ?php include("Zapraisails.php"); ?>

Technorati Tags: , , , , , ,

Waxed Fruit Hegemony: The Director’s Cut

Okay, here’s the videotape we made of our little escapade this morning. It’s about 21 minutes long, and it’s mostly just the tedium of real life, true video verit&233;.

Cathy does a de facto interview with me about the Reagan amendments, so it ends up being not just painfully dull but also mildly informative.

As is discussed at the end, we got a huge spike in traffic at BloodhoundRealty.com. This resulted in a whole bunch of people filling out our form to get a CMA, presumably thinking that we were Zillow.com.

In consequence, I am HouseValues.com for a day. If you are a real estate licensee working in one of the cities listed below, email me and I will front you the lead. Probably useless, but you never can tell. The price is right, anyway.

  • Greensboro, NC
  • Toronto, OH
  • Staten Island, NY
  • West Bloomfield, MI
  • Staten Island, NY
  • Oconomowoc, WI
  • Woodlawn, VA
  • Germantown, MD
  • Pittsburgh, PA
  • Oswego, IL
  • Greenwood Village, CO
  • Woodland Park, CO
  • Wildwood, MO
  • East Hampton, NY
  • Canton, GA
  • Alexandria, KY
  • Riverside, CA
  • Ojai, CA
  • Riverside, CA
  • Santa Barbara, CA
  • Sherman Oaks, CA
  • Des Moines, IA
  • Grand Rapids, MI
  • Hernando beach, FL
  • East Rockaway, NY
  • Gaylordsville, CT
  • Ft. Tgomas, KY
  • Hidden Hills, CA
  • Cataula, GA
  • Beavercreek, OH
  • Pringle, PA
  • Orlando, FL
  • Shreveport, LA
  • Martinsville, VA
  • Lafayette, LA

They’re continuing to come in. There may be more if they re-run the segment.

And because all true art films should end in a way that leaves you wondering if you really got it, I’ll conclude with a link to the Jewel lyric I quote just before the TV broadcast starts.

Roll the credits…
< ?php include("Zapraisails.php"); ?>

Technorati Tags: , , , , , ,