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March 2008
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When the time comes to sell your home, it seems like your To Do list is a mile long. The house has to be immaculate inside and out, the hoards of potential buyers are beating on your door, and the legal and financial details of the home sale process loom. Don’t be tempted to handle this situation by yourself; instead, make your life infinitely easier and use a Realtor® to help you sell your home.
The lure of saving money is a strong one. Most Realtors® charge between 5% and 7% on commission. As the seller, this comes out of your proceeds at closing. I know you’re doing the math right now, and thinking that there’s no way that using a Realtor® is worth anywhere near this much money. However, it truly is worth every penny; here are the top 3 reasons why you should use a Realtor® when selling your home.
1. The Security of Your Family and Home
You cannot put a value on the security of your family and home. You want your family to be safe in your home without having to worry. But remember when I mentioned the hoards of potential buyers for your home? If you sell your home yourself, you have to meet with each one of these buyers by yourself. The problem is you never know who these people really are. It’s horrific to consider, but it has happened where people have gone to a home on the premise of looking to purchase it and instead have committed a crime.
When you use a Realtor®, you don’t have to meet with the potential buyers and thus expose yourself and your family to possible harm. Instead, each person that enters your home is accompanied by a licensed Realtor®. This helps you twofold. First, because the person is in your home with a Realtor®, you and your family don’t need to be there. This mitigates the risk of someone harming you while in your home. Secondly, the chance of someone committing a crime against your property, either through theft or vandalism, is drastically reduced by their Realtor® being present.
2. The Value of Your Time
Let’s backup for the moment to a point I mentioned previously – the hassle of dealing with potential buyers. When you sell your home yourself, you’re the sole contact with potential buyers. If someone wants information, they contact you. This means your phone will be ringing constantly. And you can’t just ignore these calls; if you do, your house will take even longer to sell.
Even better…remember the part about keeping your house immaculate? When you sell your home yourself, this has to be true 100% of the time. People can and will pull up outside your home and demand to look inside at any time of the day or night. If you ask them to come back at a more convenient time, you could easily lose a sale.
But by using a Realtor®, this hassle is saved and your time is reaffirmed to be as valuable as you and I both know that it is. Your Realtor® handles all the phone calls, and is specially trained in how to answer these calls professionally without compromising the sale of your home. And your Realtor® coordinates the showings with other Realtors®, leaving you with specific times for the showings. This will allow you to relax and enjoy the time you have remaining in your home.
3. The Value of Peace of Mind for the Future
Selling a home is a complicated legal and financial prospect. Sure, you can buy generic forms to fill out for the Purchase Agreement and everything else needed. But what assurance do you have that they’re filled out in a way that protects you for the future? After all, you certainly don’t want to deal with a lawsuit five years from now with your buyer saying that you made an error in the paperwork on the transaction.
When you hire a Realtor®, they shoulder this burden. Realtors are required to carry what’s known as Errors & Omissions insurance. This insurance protects you from such little errors. If there’s a problem, the insurance company is who works to resolve the situation, not you.
So don’t succumb to the lure of saving the commission money. Hiring a Realtor® is the absolute best thing you can do as you prepare to sell your home.
Eric Bramlett is the broker & co-owner of One Source Realty in Austin, Texas. Eric currently manages his Austin Real Estate website, his Lake Travis real estate company's website, & his Austin condos website.
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The upcoming Texas Primary March 4th has revealed some conservative dissatisfaction with the likely nomination of Senator John McCain for president. This primary ranks as the most important since 1976, when Gerald Ford fought Ronald Reagan for Texas’ delegates to the Republican Convention.
Since the primary is later than many other states, the nominees of both major parties are usually known before the presidential contest rolls into Texas. Senator McCain leads the national GOP field by a large margin in the delegate count, with only former Arkansas governor Mike Huckabee standing between him and the nomination. With the recent departure of Mitt Romney, both McCain and Huckabee draw increased support in Texas opinion polls, according to a report in the Houston Chronicle. On Feb. 8th the Arizona senator polled 43%, Mr. Huckabee 33%, and Ron Paul drew 9% of likely voters in Texas, Mr. Paul’s home state. The 32 congressional districts each have 3 delegates at stake, for a total of 96, and 41 additional delegates going to the winner of the statewide vote, making it likely that each candidate will win some delegates.
Mr. Huckabee recent victories in Kansas and Louisiana highlight considerable dissatisfaction among some social conservatives with Senator McCain. Many feel that McCain supported liberal and Democratic Party positions at the expense of conservative unity, while the Arizona senator feels that by supporting issues on a factual basis, he supports the country over partisan ideology and creates the opportunity for bipartisanship. Most of the institutional leadership of the Texas GOP now supports him, including former Rudy Guiliani supporter Governor Rick Perry, who recently called on Mr. Huckabee to withdraw from the race. Senator John Cornyn also recently endorsed McCain, though Senator Kay Bailey Hutchison has yet to endorse anyone. With a large base of conservative evangelical voters, Texas will challenge the secular Arizona senator. Even if Gov. Huckabee manages to win in Texas, John McCain’s march to the nomination may be unstoppable.
McCain may experience what happened to Gerald Ford in 1976, when social conservatives in the Texas Republican Party supported someone else in the primary and stayed home during the November general election. Another outcome is that unhappy conservatives may crossover March 4th and vote in the more interesting Democratic Party primary, since Texas voters can participate in either primary. Jimmy Carter won Texas in the 1976 presidential election, the last Democrat to do so. With McCain likely on the ballot in November, Democrats could carry Texas again.
Eric Bramlett is the broker & co-owner of One Source Realty in Austin, Texas. Eric currently manages his Austin Real Estate website, his Northwest Austin Texas real estate company's website, & his Austin Texas metal website.
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The presidential primary March 4th in Texas may decide which Democrat faces the likely Republican Party nominee, Senator John McCain of Arizona. Hillary Clinton and Barack Obama, the final two Democrats left, face off in a tough, high-profile showdown in the Lone Star State.
The Democratic candidates are almost in a dead heat in the state, according to a Houston Chronicle poll. Texas voters in the Democratic Party primary are diverse, with just more than half either Hispanic or African-American. The 228 delegates will be split according to vote totals in the 31 state senate districts, with precinct conventions and a state caucus deciding the rest. Also, voter participation in the 2004 and 2006 elections for each district decides how delegates each senate district receives. For example, a heavily Hispanic district in south Texas with low voter turnout in the last two statewide elections could receive 7 delegates, while a high-turnout district in Houston gets 10 delegates, according to Chronicle. This complicated system of choosing delegates has some Democrats unhappy and calling for a change.
The estimated cost to campaign in Texas’ diverse markets is an expensive million dollars a week, and Senator Obama has been raising that much per day, collecting $32 million in January, while Senator Clinton just loaned her campaign $5 million, and some of her senior aides are working without salaries this month. After raising $13.5 million in January, Clinton announced Feb. 7th that her campaign raised $7.5 million in just one week; Obama’s campaign then went out and raised that much in 36 hours. That’s why Mrs. Clinton wants to debate Senator Obama once a week on television, since such publicity is free. So far, Mr. Obama has agreed to only one debate, and that’s in Cleveland, Ohio, February 26th on NBC. There’s also talk about one Texas debate.
Former White House Senior Advisor Karl Rove proclaimed on Fox News Feb. 7th that the Democratic nominee will come out of the Texas Primary, and that may be the case.
If Senator Obama momentum continues and he wins the most of the contests Feb. 19th, as polling suggests, he will come into Texas ahead of Mrs. Clinton. Already in big trouble, if Hillary then loses Texas, she would come into the Democratic Convention an underdog, if not outright loser. If Obama loses in Texas, Hillary may still win the nomination. With Ohio also voting March 4th, Texas may decide which Democrat faces Mr. McCain November 4th.
Eric Bramlett is the broker & co-owner of One Source Realty in Austin, Texas. Eric currently manages his Austin Real Estate website, his Austin condos website, & his Austin welder website.
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The economic outlook for Texas during 2008 points towards slower growth, yet that’s still better than most parts of the country, which will see no growth at all. Texas, with the 2nd largest state economy in the U.S. and the 15th largest economy in the world, will record growth of about 2.2% annually, according to the Texas Workforce Commission.
Warm weather, undervalued real estate, lack of a state income tax, and good jobs
continues to attracted people to the Lone Star State. These new residents all need a place to live, so the real estate market statewide should continue to be busy, though less busy than recent high-water marks, like 2006.
Recent national uncertainty about a slump in the housing market and a “credit crunch” has lowered consumer confidence, and the United States may now be in a recession for the first time since 2001. Higher energy costs, mainly the near $100 per barrel price of oil, are now reflected in the price of many goods and services. The Federal Reserve Board (the Fed) cut a key interest rate, the federal funds rate, twice over a two week period, by 125 basis points (1.25%), to increase lending and public consumption. The Federal Reserve Board Open Market Committee, which sets the federal funds rate (the overnight interest rate that banks charge each other), meets again March 18th, and MarketWatch.com reports that the Fed could lower the rate again, this time by 50 basis points (.5%). Controlling this interest rate is how the Fed regulates the money supply in the U.S. economy, and this in turn helps manage inflation and interest rates. Such actions by the Fed make it appear that either the economy is in a recession now or quickly sliding into negative growth.
The Fed reports that banks are raising credit standards at a rate not seen since quarterly surveys of senior bank officers began 17 years ago. Mortgages, consumer loans, commercial real estate loans, and just plain business loans will see higher credit standards, the Fed reports. As most economists know, tighter credit generally slows down economic growth.
To increase growth, Congress just passed a stimulus package worth about $160 billion dollars, and President Bush is expected to sign it into law, though some economists doubt that it will have any effect.
However, with high population growth and low unemployment, like a 4.3% jobless rate at the end of December, Texas continues to outperform the national economy. Economists predict this growth to continue throughout 2008, according to the Real Estate Center at Texas A & M University.
Eric Bramlett is the broker & co-owner of One Source Realty in Austin, Texas. Eric currently manages his Austin Real Estate website, his Austin Texas real estate company's website, & his Austin Texas welding website.
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The economic outlook for Austin generally mirrors the Texas forecast: local job and population growth outperforms the national economy. The Texas Workforce Commission predicts 3.1% job growth, while local economist Angelos Angelou predicts 2.3%. The unemployment rate for December 2007 was estimated at 3.6%, down from 5.1% in the Austin area during October 2006.
Austin population growth is driven by the high quality of life in the region, with the area being ranked as the top destination for relocating singles and families by several publications. Also, MSN recently ranked Austin as “The Greenest City in America” , continuing a string of “best ofs” for the city. Located on the Interstate 35 Corridor, the city has grown in population the 3rd fastest in America this decade, with Ft. Worth first and San Antonio fourth, according to data from the U.S Census Bureau. Population growth of 42,000 is projected for 2008, down from a high of about 60,000 experienced in 2006, according to the Austin-American Statesman.
Demand in the local real estate market is down as compared to 2006 but is still positive, with generally more houses on the market. Angelou predicts that if local homebuilders react to negative national trends, housing starts in Austin will fall while the local market is still healthy and homes are still in demand, which would then create a low inventory of new homes for sale. The result, he predicts, would be an increase in demand for rental housing such as apartments and result in a spike in rental prices.
Another indicator of the local real estate market is how much work property inspectors are doing, since their work is usually in demand when real property changes hands. According to my survey of inspectors, most say their number of inspections has dropped more than 50% since September 2007. Many did say, however, that the drop could be seasonal and that demand for their service should increase by May 2008.
Most job growth should appear in Austin’s traditional strong areas, like government, education, and health services. As the state capital and seat of Travis County, local, state, and federal government employs more than 150,000 workers, and that’s expected to increase, according to Texas A & M’s Real Estate Center. As an education hub, with the University of Texas and more than 20 other colleges within 30 miles, and several large public school districts, Austin will need more education workers. The “Live Music Capital of the World” continues to employ many in the leisure and hospitality industry, and large healthcare employers like Seton and St. David’s are expected to add workers.
With the quality of life high and the population continuing to increase, Austin should see positive job growth through 2009.Eric Bramlett is the broker & co-owner of One Source Realty in Austin, Texas.
Eric currently manages his Austin Real Estate website, his Austin Texas real estate company's website, & his Austin Texas welding website.
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The business world is rumbling over Dell’s recent purchase of MessageOne. The reason? MessageOne just happens to be owned by Michael Dell’s little brother, Adam. In addition, through a whole mess of investment funds, Dell’s parents and Adam’s wife and children are also part owners of MessageOne.
Knowing the ownership of MessageOne makes it a little easier to understand why some people in the business world are scratching their heads about the $155,000,000 buyout. Was this really a smart business move on behalf of Dell, or was it simply a scheme to keep all the money in the family?
On the surface, it seems that the transaction was all on the up and up. Adam Dell wasn’t involved in the acquisition and he only stands to make close to $1 million on the buyout. Dell’s parents will be making around half a million dollars, and the $12 million that is going to the personal family trust is being donated to charity. Nonetheless, in a day and age when business executives seem to be routinely bending and twisting laws and regulations to suit their needs, it is understandable why so many are wondering if this transaction was really as innocent as it seems.
Perhaps the biggest question mark associated with the transaction is the fact that the purchase doesn’t really seem like a necessary one. Most business analysts are having a difficult time understanding how MessageOne, which is a provider of email management services, really fits into the Dell business scheme.
Still, MessageOne does report that it made somewhere around $40 million last year and Dell certainly has the marketing power to take the service to a whole new level. And, let’s not forget that it is not unusual for successful companies in the technology field to branch off into other areas. After all, Google recently coughed up $600 million to purchase Postini, which provides email filtering services.
Whether or not it was truly a clean deal will remain to be seem. As the CEO of corporate ethics consulting firm Corpedia, Alex Brigham, put it “You would think [Dell’s] parents might have [also donated the proceeds to charity]. And Adam, too. Then the deal would have been much cleaner and smelled much better.”
Author Bio:
Eric Bramlett is the broker & co-owner of One Source Realty in Austin, Texas. Eric currently manages his Austin Real Estate website, his Austin Texas real estate company's website, & his Austin Lofts website.
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