The lure of a beach vacation retreat as a second home or investment property has always been a top interest of families once their primary residences were established and their careers were stable. While 2004 and 2005 saw a meteoric rise in coastal property prices and a similar rise in the number of units being built, the economic collapse of 2008 and 2009 has driven those prices to record lows and given the savvy buyer an almost unlimited choice of properties to choose from for their dream place at the beach.
One example is a 3000 square foot mansion with granite, hardwood floors, elevator and beach access. In 2005 it sold for $800,000. Now it is going into foreclosure at $449,000. A Realtor who is a good negotiator can get this for you in a short sale for even less. How about a 2nd row, 16 bedroom rental beauty with pool that was offered at the peak of the market for $3 million but is now yours for under $900,000?
Perhaps boating and fishing are your dreams. How about an older soundside home on the central NC coast with 2 buildable lots and 4 deepwater docks on the intracoastal waterway close to the Beaufort Inlet and Big Rock fishing grounds that can be had for under $500,000?
Name your heart's desire and a good Realtor who knows the market can find you deals that make foreclosures look expensive. Short sales are the rule and a buyer with money to put down can twist the arm of desperate sellers and lenders to walk away with valuable properties at bargain basement prices.
Lenders are tough on money for second homes. Be prepared to put down anywhere from 20-30% for a good interest rate and have an excellent credit score. If you qualify, the real estate market is your playground so take to the field and enjoy!
Wednesday, December 30, 2009
Wednesday, November 11, 2009
Real Estate Market Stabilizes and Gives Best Opportunity to Buy
Over the past few months my inclination was to advise clients not to buy and not to sell unless they had a significant reason why they had to make a real estate change. Prices were very low and sinking so selling was a bad idea and buying meant that in a few months your property would have lost value. With foreclosures hitting the market daily I could not see an end to the rapid down spiral in the local real estate market.
Today my tune has gotten slightly more optimistic. Due in part to extensive lender efforts to forestall foreclosure though loan modification, refinance offers and lease-back options, the foreclosure glut appears to be slowing. Sellers who wanted too much for their homes have pulled them off the market to wait for a better day. What remains is a market with homes that sellers will make a deal on and interest rates that remain enticingly low. Government tax incentives sweeten the deal. It is the perfect meeting in heaven of low property prices, tax credits and low interest rates. It's time to buy baby, buy.
The future hold the potential of rising prices due to govenment tax incentives, the expiration of tax incentives and interest rates rising in an inflationary market. If you are going to move up, downsize or get that second home my crystal ball says go for it!
Today my tune has gotten slightly more optimistic. Due in part to extensive lender efforts to forestall foreclosure though loan modification, refinance offers and lease-back options, the foreclosure glut appears to be slowing. Sellers who wanted too much for their homes have pulled them off the market to wait for a better day. What remains is a market with homes that sellers will make a deal on and interest rates that remain enticingly low. Government tax incentives sweeten the deal. It is the perfect meeting in heaven of low property prices, tax credits and low interest rates. It's time to buy baby, buy.
The future hold the potential of rising prices due to govenment tax incentives, the expiration of tax incentives and interest rates rising in an inflationary market. If you are going to move up, downsize or get that second home my crystal ball says go for it!
Labels:
buy real estate,
downsize,
interest rates,
move up,
tax incentive
Tuesday, November 10, 2009
Applebees Invites Veterans to Eat Free
Veterans can enjoy a meal of gratitude courtesy of Applebees on Veteran's Day, Wednesday November 11. http://applebees.com/vetsday/
Happy Birthday Marines! Semper Fi
Today our nation celebrates the 234th birthday of the United States Marine Corps. Take time today to thank a Marine for their service to our country and listen to a rendition of the Marine Corps Hymn as presented by the Commandant's Own.
Semper Fi
Lieutenant Colonel Barbara F. Johnson, USMCR
Semper Fi
Lieutenant Colonel Barbara F. Johnson, USMCR
Return on Investment - Home Improvements that Sell Houses
The annual list of home improvement costs and how much they add to the resale value of your home has just been released: http://rismedia.com/2009-11-09/home-sellers-top-5-home-improvement-projects-based-on-cost-and-return-on-investment/
Labels:
home improvements,
real estate,
resale
Friday, November 6, 2009
Bank-Owned ICW Waterfront Lots are a Deal
When practically an entire waterfront subdivision goes into foreclosure and is bank owned, there are some good deals to be had by saavy investors. Cannonsgate in Newport, NC is located on the intra-coastal waterway and has a lovely marina and clubhouse..that is ALL it has. Touted as a premier community and marketed in large east coast urban areas, buyers bought sight unseen and paid outrageous prices to scamming marketers. Today a large number of the lots have been foreclosed on and the list prices offer real value to an investor who can sit on the land until better times. Allow me to be your negotiating pit bull.
If you are interested in more information about Cannonsgate contact me for my Deal of the Day!
If you are interested in more information about Cannonsgate contact me for my Deal of the Day!
Labels:
bank-owned,
foreclosure,
ICW,
intracoastal waterway,
lots,
waterfront
Home Buyer Tax Incentive goes to President
At this moment there are millions of people waiting for the President to sign into law a bill that will give average Joe American the first good reason to step out of fear since June 2005 and make the move to purchase another home. This tax incentive reaches to the grass roots of our economy, giving life to small business and encouraging strong cash flow within local communities around the country. No big CEO or labor unions get in on this one, just hard working citizens who see real money pass into the hands of their neighbors, their friends and their families when a house is purchased.
I've seen it work already. A young couple makes their move to leave a rental unit and buy their first home. The tax incentive will pay to update the house. The home they buy belongs to a recent widow who can no longer handle her large two-story home on a half acre wooded lot. Unable to sell in the past 3 years due to declining home values, the incentive prompts a buyer for her home and she in turn has a tax incentive to purchase the vacant home down the street whose owner has been desperate to sell. The money she makes on the sale of her home allows her to pay off all her accumulated debt, buy the homes and make some upgrades to suit her needs.
These two transactions would never have happened without the tax incentive. In the next two months almost $64,000 in cash flow will be generated by each of these sales; $128,000 infused into a community starved for small business jobs. Taking home a much needed paycheck are the home inspector, pest service, furniture salesman, handyman, 2 real estate brokers, a mortgage broker, 2 attorneys, a title company, insurance companies, painter, electrician, flooring store, home improvement store, power washing crew, moving crew and many more. With money in hand, they will quickly pay bills, shop for delayed needs, travel, eat out and pay taxes for the new income.
This is capitalism at work. This is free-enterprise recovering from a government caused melt-down. Put a few bucks in the pocket of a hard-working American and the engine of our economy moves.
Thank you Congress, thank your Senators and in advance....thank you Mr. Obama for finally getting something right for the average hard-working, tax paying citizen.
I've seen it work already. A young couple makes their move to leave a rental unit and buy their first home. The tax incentive will pay to update the house. The home they buy belongs to a recent widow who can no longer handle her large two-story home on a half acre wooded lot. Unable to sell in the past 3 years due to declining home values, the incentive prompts a buyer for her home and she in turn has a tax incentive to purchase the vacant home down the street whose owner has been desperate to sell. The money she makes on the sale of her home allows her to pay off all her accumulated debt, buy the homes and make some upgrades to suit her needs.
These two transactions would never have happened without the tax incentive. In the next two months almost $64,000 in cash flow will be generated by each of these sales; $128,000 infused into a community starved for small business jobs. Taking home a much needed paycheck are the home inspector, pest service, furniture salesman, handyman, 2 real estate brokers, a mortgage broker, 2 attorneys, a title company, insurance companies, painter, electrician, flooring store, home improvement store, power washing crew, moving crew and many more. With money in hand, they will quickly pay bills, shop for delayed needs, travel, eat out and pay taxes for the new income.
This is capitalism at work. This is free-enterprise recovering from a government caused melt-down. Put a few bucks in the pocket of a hard-working American and the engine of our economy moves.
Thank you Congress, thank your Senators and in advance....thank you Mr. Obama for finally getting something right for the average hard-working, tax paying citizen.
Labels:
home buyer,
Mr. Obama,
tax credit,
taxpayer
Alex Glass - Hometown Hero
There are heroes every day in most lives...those that make that extra effort, whose smiles change lives and whose talents are put to use for the benefit of others. But sometimes we are in the presence of a dramatic hero, one who has put their life on the line for another.
It is said that 3 out of every 4 Boy Scouts will use the skills they learned as a scout to save their own lives or the life of another. Several years ago I was honored to write the heroism award application for a young Eagle Scout who saved his family from a fire in their home. Tonight a local Boy Scout leader and a friend of mine was officially recognized by the Boy Scouts of America for his heroism in rescuing not one but two people in May 2009. Here is the story:
Morehead City, NC – District Roundtable/Special National Court of Honor: Tonight, Mr. Alex Glass, Scoutmaster of Troop 412, was awarded the prestigious Honor Medal with Crossed Palms, the highest lifesaving award from the Boy Scouts of America. Mr. Glass did not have any idea that he was being recognized tonight. Never in the history of East Carolina Council has this award been given to someone who rescued 2 persons at once.
Honor Medal with Crossed Palms
Nominee has demonstrated unusual heroism and extraordinary skill or resourcefulness in saving or attempting to save a life at extreme risk to self. Heroism is defined as conduct exhibiting courage and daring, skill, and self-sacrifice. Skill is defined as the ability to use one's knowledge effectively in execution or performance. Special attention is given to skills earned in Scouting.
Summary of Action of Alexander Glass
On the afternoon of 25 May 2009 Alexander Glass, Scoutmaster of Troop 412 and Cubmaster of Pack 412, while on the beach at Cape Lookout, NC heard a woman calling for help, and saying that two girls were in trouble out in the water. It appeared that they had been towed out to sea in a rip current. After locating the two girls, and calling upon his years of training as both a Boy Scout Lifeguard and his Red Cross training and seeing no other option available he realizing there was no time to waste. He proceeded into the surf to attempt a rescue. Upon reaching the first person he noticed that someone was already attempting to assist her. So, he focused his attention on assisting the other girl and swam toward her location. Upon reaching this girl it was obvious that she was extremely tired and near exhaustion. He immediately placed her in a cross-chest swim rescue position and headed back to shore. On the way back to shore, he again came upon the first girl he had encountered. The person who had been attempting to assist had left her because the conditions and situation was too much for him to handle and beyond his capabilities. Scoutmaster Glass was left with no option but to attempt to rescue both girls. With no other help available he had to tow both of them toward shore. Fortunately, on the way back they came upon a sand bar and they were able to rest for a moment. He was able to reassure and calm them while they rested, and when they felt they could continue they resumed their journey back to the safety of shore. Happily, both SuAnna and Karrissa Willis are with us this evening to share in this recognition.
Congratulations to Alex for the highest recognition that can be given to anyone by the Boy Scouts of America for heroism and thank you for putting the safety of others first in the rescue of these two young women.
It is said that 3 out of every 4 Boy Scouts will use the skills they learned as a scout to save their own lives or the life of another. Several years ago I was honored to write the heroism award application for a young Eagle Scout who saved his family from a fire in their home. Tonight a local Boy Scout leader and a friend of mine was officially recognized by the Boy Scouts of America for his heroism in rescuing not one but two people in May 2009. Here is the story:
Morehead City, NC – District Roundtable/Special National Court of Honor: Tonight, Mr. Alex Glass, Scoutmaster of Troop 412, was awarded the prestigious Honor Medal with Crossed Palms, the highest lifesaving award from the Boy Scouts of America. Mr. Glass did not have any idea that he was being recognized tonight. Never in the history of East Carolina Council has this award been given to someone who rescued 2 persons at once.
Honor Medal with Crossed Palms
Nominee has demonstrated unusual heroism and extraordinary skill or resourcefulness in saving or attempting to save a life at extreme risk to self. Heroism is defined as conduct exhibiting courage and daring, skill, and self-sacrifice. Skill is defined as the ability to use one's knowledge effectively in execution or performance. Special attention is given to skills earned in Scouting.
Summary of Action of Alexander Glass
On the afternoon of 25 May 2009 Alexander Glass, Scoutmaster of Troop 412 and Cubmaster of Pack 412, while on the beach at Cape Lookout, NC heard a woman calling for help, and saying that two girls were in trouble out in the water. It appeared that they had been towed out to sea in a rip current. After locating the two girls, and calling upon his years of training as both a Boy Scout Lifeguard and his Red Cross training and seeing no other option available he realizing there was no time to waste. He proceeded into the surf to attempt a rescue. Upon reaching the first person he noticed that someone was already attempting to assist her. So, he focused his attention on assisting the other girl and swam toward her location. Upon reaching this girl it was obvious that she was extremely tired and near exhaustion. He immediately placed her in a cross-chest swim rescue position and headed back to shore. On the way back to shore, he again came upon the first girl he had encountered. The person who had been attempting to assist had left her because the conditions and situation was too much for him to handle and beyond his capabilities. Scoutmaster Glass was left with no option but to attempt to rescue both girls. With no other help available he had to tow both of them toward shore. Fortunately, on the way back they came upon a sand bar and they were able to rest for a moment. He was able to reassure and calm them while they rested, and when they felt they could continue they resumed their journey back to the safety of shore. Happily, both SuAnna and Karrissa Willis are with us this evening to share in this recognition.
Congratulations to Alex for the highest recognition that can be given to anyone by the Boy Scouts of America for heroism and thank you for putting the safety of others first in the rescue of these two young women.
Labels:
Alex Glass,
Boy Scouts,
hero,
lifesaving
Wednesday, November 4, 2009
Homebuyer Tax Credit Closer to Passage
Flying through the Senate in an lopsided 97-1 vote, the unemployment benefits extension bill with the homebuyer tax credit attached passed today and moves on to the House tomorrow. Passage of this bill would effectively do more for the economy at the grass roots level than any other stimulus package that has been dreamed up. View the details as posted on Newsvine this evening http://www.msnbc.msn.com/id/33626872/ns/business-us_business/
Labels:
home buyer,
tax credit,
tax incentive
Sunday, November 1, 2009
Should You Paint the Interior of Your Home When Selling?
Paint, both inside and out, is the best investment a Seller can make when marketing their home. Curb appeal is an essential element in the sale of a home so first make every effort to clean up and beautify the exterior of your house. Freah paint, power washing, a manicured lawn, trees and bushes all contribute to enticing a buyer to come inside and look more.
Once the exterior is in pristine condition, then and only then, do you devote your efforts and money to the interior. A fresh paint job in attractive neutral colors (no harsh white please) is always a good investment of time and money.
First de-clutter your home; no use in painting if no one can see the walls once they are done. Put excess furniture, toys, photos and pictures in storage. Get rid of any odors including cigarette or cigar smoke, cooking smell and pet odors. If you feel you have to "perfume" your home, you need to deoderize more. Perfumed air fresheners are often as offensive as the original odor and do nothing to mask smells. Finally, choose a popular neutral with a white trim to make the colors "pop." If you are not an expert painter let someone else do the job. Paint spatters, drips and smudges on the ceiling and floor are universally unappealing to buyers.
So yes...paint your interior, but do it in the context of an overall careful preparation of your home for sale. In this tough market your efforts might just be rewarded with happy buyers and a quick sale for a good price.
Once the exterior is in pristine condition, then and only then, do you devote your efforts and money to the interior. A fresh paint job in attractive neutral colors (no harsh white please) is always a good investment of time and money.
First de-clutter your home; no use in painting if no one can see the walls once they are done. Put excess furniture, toys, photos and pictures in storage. Get rid of any odors including cigarette or cigar smoke, cooking smell and pet odors. If you feel you have to "perfume" your home, you need to deoderize more. Perfumed air fresheners are often as offensive as the original odor and do nothing to mask smells. Finally, choose a popular neutral with a white trim to make the colors "pop." If you are not an expert painter let someone else do the job. Paint spatters, drips and smudges on the ceiling and floor are universally unappealing to buyers.
So yes...paint your interior, but do it in the context of an overall careful preparation of your home for sale. In this tough market your efforts might just be rewarded with happy buyers and a quick sale for a good price.
Labels:
home sales,
painting,
real estate
Friday, October 30, 2009
Senate Moves to Expand and Extend Home Buyers Tax Credit
Reacting to the economic success of its first-time home buyer's tax credit, the Senate is moving to expand and extend the tax credit into 2010. That is exceptionally good news for the consumer given the boost that these tax credits give to the overall economy at the level of the small business. A nudge to your representative would still be a good idea to ensure that this happens as announced.
According to RIS Media, the following information has been released:
The Senate has reached a compromise on extending and expanding the $8,000 tax credit for first-time home buyers, a boost the housing industry believes will help it pull out of its two-year-old downturn.
While its passage remains uncertain, the agreement would extend the existing credit for first-time homebuyers, worth up to $8,000, while offering a new credit of up to $6,500 for some existing homeowners, Senate aides said. The reduced credit would be available to all homebuyers who have been in their current residence for a consecutive five-year period in the past eight years. Lawmakers in Washington also raised the qualifying income limits to $125,000 for single taxpayers and $250,000 for joint taxpayers, from the current $75,000 and $150,000, housing-industry sources said. Under the Senate compromise, buyers must have sales agreements in hand by April 30, but they will have until June 30 to go to settlement, said the sources. The measure still faces votes in the full Senate and the House.
Read more: http://rismedia.com/2009-10-29/breaking-news-senate-plans-to-extend-and-expand-tax-credit/#ixzz0VQfaneNA
According to RIS Media, the following information has been released:
The Senate has reached a compromise on extending and expanding the $8,000 tax credit for first-time home buyers, a boost the housing industry believes will help it pull out of its two-year-old downturn.
While its passage remains uncertain, the agreement would extend the existing credit for first-time homebuyers, worth up to $8,000, while offering a new credit of up to $6,500 for some existing homeowners, Senate aides said. The reduced credit would be available to all homebuyers who have been in their current residence for a consecutive five-year period in the past eight years. Lawmakers in Washington also raised the qualifying income limits to $125,000 for single taxpayers and $250,000 for joint taxpayers, from the current $75,000 and $150,000, housing-industry sources said. Under the Senate compromise, buyers must have sales agreements in hand by April 30, but they will have until June 30 to go to settlement, said the sources. The measure still faces votes in the full Senate and the House.
Read more: http://rismedia.com/2009-10-29/breaking-news-senate-plans-to-extend-and-expand-tax-credit/#ixzz0VQfaneNA
Labels:
economy,
real estate,
tax credit,
taxpayer
Positive Economics of Home Buyers Tax Credit Elude the General Public
Based on the negative reactions of many online readers to the potential extension or expansion of the tax credit for home purchases, it is clear that the average consumer does not understand the positive impact of tax credits versus the negative impacts of taxation and give-away stimulus funds. There is a perception that Realtors want the tax credit to continue in order to increase commissions and artificially raise home prices that have plummeted in recent years.
I can't deny that right now I'm working 4 jobs to pay my mortgage and would love to have a more robust real estate market, but the basic economics are that what is good for me personally in the housing market is exponentially better for the overall economy.
A tax credit keeps money in the consumer pocket which allows him or her to make decisions about spending or investment without govenment interference. When that money is spent or invested, it creates income for another consumer who then is part of a tax base that is larger and stronger and returns funds in the form of income taxes to the government far in excess of those funds lost in the original tax credit.
The rules and regulations for appraisals and lending have gotten so stringent that many of my good clients can't begin to qualify for loans and if they do have a contract on a home, the appraiser can make it null and void with an overly conservative appraisal. So much for free wheeling home sales to unqualified buyers due to an extended tax credit and artificially stabilized home values.
Jobs and the economy will rebound when people can freely buy and sell their homes in response to requirements to move for jobs, illness, retirement or changes in family situations and when the disaster of millions of foreclosures ends. Get on board to ensure that our representative do the right thing on this proposed measure and approve the home buyers tax credit extension.
I can't deny that right now I'm working 4 jobs to pay my mortgage and would love to have a more robust real estate market, but the basic economics are that what is good for me personally in the housing market is exponentially better for the overall economy.
A tax credit keeps money in the consumer pocket which allows him or her to make decisions about spending or investment without govenment interference. When that money is spent or invested, it creates income for another consumer who then is part of a tax base that is larger and stronger and returns funds in the form of income taxes to the government far in excess of those funds lost in the original tax credit.
The rules and regulations for appraisals and lending have gotten so stringent that many of my good clients can't begin to qualify for loans and if they do have a contract on a home, the appraiser can make it null and void with an overly conservative appraisal. So much for free wheeling home sales to unqualified buyers due to an extended tax credit and artificially stabilized home values.
Jobs and the economy will rebound when people can freely buy and sell their homes in response to requirements to move for jobs, illness, retirement or changes in family situations and when the disaster of millions of foreclosures ends. Get on board to ensure that our representative do the right thing on this proposed measure and approve the home buyers tax credit extension.
Labels:
congress,
economics,
home buyers,
real estate,
tax credit
Thursday, October 29, 2009
The Way to Sell More Cars is to Sell More Houses
Just a year ago I visited my local GM car dealer and asked how sales were going. He answered by asking me how home sales were in the county. When I shook my head and told him I was taking a second job to make ends meet he nodded in empathy. Then he made a pronouncement that opened my eyes to the full impact of the downturn in home sales, "When you sell houses, I sell cars."
Our government missed the target with auto manufacturing bailouts and bank bailouts and stimulus packages that directed money to CEO's and big business whike ignoring the average consumer. Cash for Clunkers was a clunker, but the tax incentive for first time home buyers was a clear cut economic winner. Teh economy responds to incentives that stimulate normal cash flow in communities across the nation and keep the wealth of our country in the hands of hard working small business men and woman.
How can homes sales accomplish so much? Why was my friend so accurate in his assessment that he would sell cars when I sold houses? I call it free-flow economics or "I make it, I spend it, you make it, you spend it economics."
Consider Pete and Sally who despite the economy have good, stable jobs. Newly married, they want to buy a home but have been too busy to look for one. Enter Uncle Sam offering an enticing tax credit of $8,000 if they will go out and purchase their first home. Astute money managers, they see the personal financial value of this offer and they are soon the delighted owners of a home with $8,000 in their pockets to use as they choose.
In the 60 days that it takes to look for a home, put one under contract, close, move in and make it their own, a literal cascade of money flows through and around Pete and Sally. The Realtor who showed the home and the one that listed it, their real estate companies, the Sellers who bought another home, the inspector, the handyman, electrician, plumber and carpenter who made repairs, the appraiser and the lender, the insurance company, the septic cleaning company and the attorneys all share in the cash flow, and that is before the home closes. After closing it's the moving company, landscaper, painter, flooring company, tile man, home decorator, furniture store, fabric company, appliance store, grocer, department store and finally...the car dealer!
The car dealer? Why the car dealer?
There is a basic fact in my theory that bears repeating, I make money, I spend money, you make money, you spend money. Following this economic rule, I have a job, I spend my income on my new house. You help me in one or more facets of my home ownership and you make money. When average workers make money from that house sale, eventually somebody or perhaps everybody has the money to buy a new car or truck with that income. Voila! The sale of a house produces the sale of a car!
Free flow economics. Allowing the American working man or woman to keep more of their own income through tax cuts or tax incentives allows them to make choices in the use of their money that have immediate and direct benefits in the community. The bailout of GM caused my dealer friend to scale back his inventory and lay off workers. Billions of taxpayer money wasted. The first time homebuyers tax incentive has spurred the sale of many homes in our small town at no cost to the taxpayer and cars are being sold again.
Contact your Senator and Congressman and ask them to support a continued tax incentive for homes sales. We all benefit!
Our government missed the target with auto manufacturing bailouts and bank bailouts and stimulus packages that directed money to CEO's and big business whike ignoring the average consumer. Cash for Clunkers was a clunker, but the tax incentive for first time home buyers was a clear cut economic winner. Teh economy responds to incentives that stimulate normal cash flow in communities across the nation and keep the wealth of our country in the hands of hard working small business men and woman.
How can homes sales accomplish so much? Why was my friend so accurate in his assessment that he would sell cars when I sold houses? I call it free-flow economics or "I make it, I spend it, you make it, you spend it economics."
Consider Pete and Sally who despite the economy have good, stable jobs. Newly married, they want to buy a home but have been too busy to look for one. Enter Uncle Sam offering an enticing tax credit of $8,000 if they will go out and purchase their first home. Astute money managers, they see the personal financial value of this offer and they are soon the delighted owners of a home with $8,000 in their pockets to use as they choose.
In the 60 days that it takes to look for a home, put one under contract, close, move in and make it their own, a literal cascade of money flows through and around Pete and Sally. The Realtor who showed the home and the one that listed it, their real estate companies, the Sellers who bought another home, the inspector, the handyman, electrician, plumber and carpenter who made repairs, the appraiser and the lender, the insurance company, the septic cleaning company and the attorneys all share in the cash flow, and that is before the home closes. After closing it's the moving company, landscaper, painter, flooring company, tile man, home decorator, furniture store, fabric company, appliance store, grocer, department store and finally...the car dealer!
The car dealer? Why the car dealer?
There is a basic fact in my theory that bears repeating, I make money, I spend money, you make money, you spend money. Following this economic rule, I have a job, I spend my income on my new house. You help me in one or more facets of my home ownership and you make money. When average workers make money from that house sale, eventually somebody or perhaps everybody has the money to buy a new car or truck with that income. Voila! The sale of a house produces the sale of a car!
Free flow economics. Allowing the American working man or woman to keep more of their own income through tax cuts or tax incentives allows them to make choices in the use of their money that have immediate and direct benefits in the community. The bailout of GM caused my dealer friend to scale back his inventory and lay off workers. Billions of taxpayer money wasted. The first time homebuyers tax incentive has spurred the sale of many homes in our small town at no cost to the taxpayer and cars are being sold again.
Contact your Senator and Congressman and ask them to support a continued tax incentive for homes sales. We all benefit!
Labels:
home buyers,
home sales,
tax credit,
tax incentive
Fair Negotiations
I've always prided myself on being a Pit Bull negotiator on behalf of my real estate clients. I'm there to represent them and get the best deal. The consequences for the other party are not my responsibility as long as we act within the limits of the law and Realtor Code of Ethics.
Yesterday a client's son reminded me that I'm really better than that - I am a Pit Bull negotiator to get the best deal for everyone involved. In finding ways to serve every one's interests, my client is served best. I thank him for the insight he provided about how I conduct myself as a professional Realtor. It was refreshingly positive, especially in light of a difficult negotiation that had just been successfully concluded.
His actual comment was that most Realtors are like used car salesmen, pushy and ready to do anything to make the sale and money for themselves, but that I was clearly working to make a sale that would meet the goals and needs of everyone involved. His attorney girlfriend quickly stepped in to defend Realtors by noting that there are good and bad Realtors just as there are good and bad practitioners of every profession. (Well said by an attorney who has probably heard more than her share of negative lawyer jokes.)
As a Realtor I am committed to seeking the advantage for my Buyer or Seller. In this real estate market that often means selling, although the price is well below what was expected, or buying at a price that is a bargain even by today's falling values. In the big picture the overall goals are to meet my client's needs and in doing that to fulfill the need of another real estate client. Negotiating a contract through to closing brings far more personal satisfaction than a paycheck can ever provide.
Yesterday a client's son reminded me that I'm really better than that - I am a Pit Bull negotiator to get the best deal for everyone involved. In finding ways to serve every one's interests, my client is served best. I thank him for the insight he provided about how I conduct myself as a professional Realtor. It was refreshingly positive, especially in light of a difficult negotiation that had just been successfully concluded.
His actual comment was that most Realtors are like used car salesmen, pushy and ready to do anything to make the sale and money for themselves, but that I was clearly working to make a sale that would meet the goals and needs of everyone involved. His attorney girlfriend quickly stepped in to defend Realtors by noting that there are good and bad Realtors just as there are good and bad practitioners of every profession. (Well said by an attorney who has probably heard more than her share of negative lawyer jokes.)
As a Realtor I am committed to seeking the advantage for my Buyer or Seller. In this real estate market that often means selling, although the price is well below what was expected, or buying at a price that is a bargain even by today's falling values. In the big picture the overall goals are to meet my client's needs and in doing that to fulfill the need of another real estate client. Negotiating a contract through to closing brings far more personal satisfaction than a paycheck can ever provide.
Labels:
clients,
contracts,
negotiation,
real estate,
Realtor,
sales
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