Do you have your home listed so that you can relocate, but are getting a sinking feeling that your agent is NOT doing the job? I'm not referring to the fact that your home (which I HOPE is priced very competitively so you can sell it quickly and not delay your relocation) hasn't sold within a week of being listed, but to some other things that might mean your agent is slacking off. (read my earlier post on what a REALTOR does to market a home to learn more)

• Lack of communication - you don't hear from the agent. When you do call or email, you get no response, or none for 24 hours or more.
• There is little or no marketing - you don't know WHAT your agent is doing to market your home. Perhaps s/he told you about the things they would do on the Internet but you have yet to see anything. Your agent said there would be Open Houses but there have been none to date. The sign is dirty or lopsided, and the brochure box you were promised is missing.
• Poor MLS listing - if you DO get to see the actual listing (you SHOULD) you see typos, inaccuracies, and lousy, unflattering photos.
• Other promises made but not kept - the agent doesn't inform you when showings are to occur although that was your agreement. The agent promised to get feedback from showings but doesn't.
• Marketing materials are absent - the stuff your agent promised to leave at the house for showings haven't appeared, or are not what you expected. Plus there are mistakes and missing information on the feature sheets.
• No coaching or advice - Your agent doesn't coach you on how to stage your home or point out minor repairs that are needed.

This may not be everything, but you now have some doubts about what you are getting for your money. So now what to do you do?

My next post will provide some insights as to how to handle this situation, and perhaps how to avoid it altogether. Hiring a good listing agent is a pro-active approach but there's more.

I will be posting a summary report in January based on my review of the MLS statistics for the towns I service here in Southern California. The purpose, of course, is to give readers who are interested in this area of the country a better feel for what has been happening here over the last 12 months in the housing market.

Our city newspaper just reported a fairly positive overview of the housing market on a more global level today. Here is some more news on the housing market!

Do you have specific questions about a communtiy here in the San Diego area? Let me know and I will get you the information you need.

I actively participate in a real estate blogging network site called ActiveRain, which has been great for learning more about blogging, sharing and acquiring real estate knowledge, and getting to know agents from around the country.

Recently there was a meme contest, and everyone who participated was asked to "meme" 3 other people and to share 5 things about themselves that no one on the network know. Here were mine:

1. I have been married for 27 years and have 2 daughters - one 26 (in LA) the other is 25 and living in the Boston area. Our first daughter was born on our 10-month anniversary - yes, people were counting

2. My wife and I are avid art collectors and had an art gallery for 3 years in Boston; currently we have well over 100 pieces (and not enough room)

3. I have ridden my bike on 2 AIDS benefits rides between Boston and New York ('bout 350 miles)   [BTW the organization that used to sponsor them had some financial difficulties and ultimately dropped out as sponsor/organizer.]

4. I have lived in 9 homes (in 5 states - Ohio, Massachusetts, Michigan, Minnesota, California) and 3 rentals since I got married.

5. I was in the opera "Aida" in Philadelphia when I was 12 years old (and no, it was not singing).

Oh, BTW - that pic up top was the one of myself that I doctored for the Christmas holiday and used on my ActiveRain profile. Cool, huh?!

Here is the final post in this series on "What Does a Realtor do in a Sale."  If you missed any of the earlier posts, you can read them here (Part 1, Part 2, Part 3, Part 4 and Part 5).

• Check to make sure the bank has scheduled the appraisal
• If necessary, provide comparable sales used in market pricing to Appraiser
• Follow-Up On Appraisal to ensure timely processing with lender
• Notify buyer’s agent when appraisal has been completed

• Make sure all paperwork is reviewed and signed, and apporpriate copies provided to the necessary personnel
• Ensure all parties have all forms and information needed to close the sale
• Confirm closing date and time with individual handling the closing (varies by state)
• If necessary, assist in solving any title problems (boundary disputes, easements, etc.) or in obtaining Death Certificates
• Coordinate with buyer's agent for final walk-thru prior to closing
• If appropriate in the state, obtain and review closing figures to ensure accuracy of preparation
• If applicable, arrange for  "Home Owners Warranty" before closing
• Attend closing (again, this will vary from state to state)
• Make necessary changes in MLS to reflect sold status
• Close out listing in MLS and office files
• Send thank you card to buyer’s agent
• Make sure checks are distributed appropriately
• Assist seller with any last minute issues at closing or afterwards
• STAY IN TOUCH with seller

Hopefully this series has provided you with a better idea of what a REALTOR does when working with homeowners to sell their home. Each situation is unique, and some agents provide more, or fewer, services. Please don't hesitate to let me know if you have any questions or I can be of assistance.

Here is the next post in this 6-part series. If you missed any of the earlier posts, you can read them here (Part 1, Part 2, Part 3, and Part 4).

• Contact lender to ensure all necessary information has been provided
•  Follow loan process through to the underwriter and contact lender (or buyer’s agent) weekly to ensure processing is on track
• Keep seller informed of status of loan
• Relay final approval (i.e., loan commitment) of buyer's loan to seller

Here's our tree, before the room becomes a disaster area Christmas morning.

You can see me and our tree (before it got cut down at the tree farm) on my Fans of Coastal San Diego blog.

HAPPY HOLIDAYS to you and your family!

Part 4 of this series on "What Does a REALTOR do in a Sale" focuses on activities once an offer is obtained. If you missed any of the earlier posts, you can read them here (Part 1, Part 2, and Part 3).

• Receive and review all offers submitted by buyers or buyer's agents; make sure all information is submitted, including pre-approval letter and copy of deposit check
• Present all offers to seller as soon as possible, preferably face-to-face; provide written copy to seller for review (some buyer agents may request permission to present the offers themselves to the listing agent and sellers).
• Counsel seller on offers and answer all questions. Discuss merits and weaknesses of each offer
• Review buyer's qualifications and discuss offer with buyer's agent
• Negotiate offers on seller's behalf
• With sellers, prepare and convey any counteroffers, acceptance or amendments to buyer's agent(s)
• Ensure necessary paperwork flow between sellers and buyers regarding offer, counteroffers, etc.
• Once offer has been accepted and signed by seller, deliver signed offer to buyer's agent and provide copy to office file
• Record and promptly deposit buyer's earnest money in escrow account (process varies by state)
• If property will continue to be shown determine "Under-Contract Showing Restrictions" (depending on seller’s request)
• Cancel planned public and broker open houses if applicable
•  Advise seller in handling any additional offers to purchase that may be submitted between contract and closing
• Change status in MLS to reflect being under contract

Since the process of making and finalizing offers may vary quite a bit from state to state, there may be many other activities that your REALTOR will engage in during this phase. If there are any questions, please feel free to let me know.

Part 3 of this series on "What Does a REALTOR Do in a Sale?" is fairly lengthy, as it focuses on the activities a REALTOR might engage in while marketing a home. Not all agents will be this comprehensive, and some situations will not required the same amount of type of marketing.

If you are interested in more details on this series, you may visit my website and request the full report via email.

• Review current title information, establish square footage, examine plot plan if available, verify loan information
• Prepare showing instructions for buyers' agents and agree on showing times/requirements with seller
• Identify Home Owner or Condominium (if applicable) Association manager or contact, if applicable, and determine condo/HOA fees
• Request copy of Condominium Association bylaws and Master Deed, if applicable
• Prepare detailed list of property amenities and assess market impact
• Have extra key made for lockbox (if used) and for office
• If leased property, obtain copies of lease(s); verify rents and deposits
• Install signage, brochure box and lockbox
• Finalize marketing plan
• Discuss how offers are to be handled, especially in a multiple offer situation
• Discuss dual agency and what it means
• Take additional photos for MLS, flyers and advertising
• Enter listing into MLS, including photos, and proofread; email copy to seller for review
• Provide seller with signed copy of the Listing Agreement and a printout of the MLS Listing within 48 hours; revise MLS listing as needed per seller’s feedback

Here is more information on the role of the REALTOR in a sale. If you missed the first post, you can read it here. Please keep in mind that this is not an all-inclusive list, nor will most agents do all these things, hence the competitive edge of some (yep, I'm braggin' a bit here! ).

• Tour property with seller to review interior and exterior obtain information about selling points, repairs, and any defects
• Provide an overview of current market conditions, trends and projections
• Review agent's and company's credentials and accomplishments in the market, company profile, etc.
• Present CMA (market analysis) results
• Discuss a pricing strategy based on professional judgment and interpretation of current market conditions
• Discuss goals with seller to market effectively (what is target market, etc.)
• Explain use of Multiple Listing Service, Realtor.com and other Internet marketing
• Explain agent's role in screening for qualified buyers and to protect seller from curiosity seekers, as well as other fiduciary duties
• Present and discuss strategic master marketing plan, including dates
• Discuss listing agreement (terms and conditions, dates) and seller representation
• Discuss added value of using a REALTOR, commission structure, and answer any final questions

There is some good news for 2007 regarding taxes, for some individuals.

President Bush has signed a bill that mortgage insurance premiums will be tax deductible beginning in 2007.

• The tax deduction is for homeowners and buyers in 2007 (you must purchase OR refinance after January 1, 2007).
• It also covers those households where the adjusted gross income is $100,000 or less.

You can read more about this great savings here.

The role of a REALTOR in the sale of a house is complex, far more so than many buyers and sellers realize. This is because many of the acitvities go on behind the scenes.

Since you are going to be working with a REALTOR to help sell your house during your relocation (unless you decide to chance doing it on your own - read my series on "Thinking about Selling Your Home Yourself."), it would be beneficial to you to understand what the role entails.

Here are some of the things a REALTOR does before even meeting with a seller to discuss a potential listing.

• Make appointment with seller for listing presentation
• Confirm listing appointment and call to reconfirm
•  Review pre-appointment questions and information needed from seller
•  Provide Pre-Listing Information Package to seller (surprisingly, many agents DO NOT do this like I do)
•  Research all comparable currently listed properties
• Research sales activity for the past 6 months (standard review period) from MLS and public records databases - in some markets, such as one where prices are rising or dropping, the time period is less
• Research property tax roll information, property ownership, details of lots, legal description, zoning
• Prepare "Comparable Market Analysis" (CMA) to establish fair market value - I do a RIGHT PRICE ANALYLSIS (see my website for more information on this)
•  Verify legal names of owner(s) in county's public property records
• Prepare listing presentation package with above materials and MLS information
• Perform exterior "Curb Appeal Assessment" of subject property
• Make sure marketing materials are assembled to review with seller
• Take pictures of property for mock up of feature sheet (again, not something a lot of agents do)

If I can answer any questions or provide other assistance, please let me know.

If you have an agent, then this might be interesting for you to read.

If you do NOT yet have an agent, then YOU REALLY SHOULD read this post.

What are you really buying when you are working with an agent (whether a seller or a buyer)? I believe it's COMMITMENT. So what does this mean? Commitment to what? and Who?

In no particular order:

• Commitment to the "Code of Ethics" (only members of the National Association of REALTORS is subject to this)
• Commitment to fiduciary responsibilities (buyer or seller), and to protect your interests, and not their own
• Commitment to use knowledge, training and experience to the best of his/her ability at all times
• Commitment to safeguarding privacy and confidentality of the client
• Commitment to hard work, timely and straightforward communication, and follow-up
• Commitment to acquiring new information when needed and sharing it
• Commitment to a positive attitude
• Commitment to provide counsel when needed, to listen carefully, to educate, to answer questions
• Commitment to treat others as s/he would like to be treated - The Golden Rule 
• Commitment to accuracy in completing paperwork, and providing information in written and verbal form
• Commitment to disclosure
• Commitment to honesty, loyalty and integrity in all dealings with the client and others
• Commitment to appropriate recordkeeping and timely processing of all paperwork

Is this too much to ask? Nope, no way...you should EXPECT and GET IT!

This is the last post in this series on finding a luxury home. (Part 1, Part 2).

Now that you have given careful consideration to the reasons you are seeking new luxury home, and the amenities and features you desire, it's time to begin your search. Here are my thoughts on how to do this most effectively.  Bear in mind a search for the right luxury home can sometimes take a year,or even longer, if the specifications are especially demanding, due to very limited inventory; or waiting for a particular home to actually come on the market.

• Use a REALTOR - I think this is the smartest thing to do. Luxury homes are unique and the right home or estate may be hard to find if the specs are unusual, or the inventory is limited in the area you wish to live in. A qualified REALTOR will know how to do this. Plus once s/he ascertains exactly what you want, a good agent can send you listings that only meet your criteria, and can also preview properties for your (with additional photos and commentary) so you only go out to look at those that truly are right for you. This is the best approach particularly if you are out of town and only want to make a trip to look at homes once there is a select list that are worth your time. An agent can also help find those properties that may meet your needs but which are not publicly for sale.
• The Internet - if you are inclined, take some time to look at things on the Internet (or have someone do that for you if you are too busy). There are lots of sites that focus on the luxury niche (there are many homes that do NOT get listed publicly). Here are some of the better ones:  DuPont Registry; Sothebys; Christies; Unique Homes; Luxury Real Estate; Unique Global Estates; Dream Homes (California only). Keep in mind that only some of the homes in a particular area will be listed - an agent's access to the MLS will provide a more comprehensive list.
• Real Estate Publications - many of the organizations that have websites listed above also have glitzy magazines showcasing some of the luxury homes. There are also publications that do not have websites, although that is rare. Keep in mind that due to publication timing, some homes that appear in these magazines may no longer be available.
• Newspapers - there are some well known papers that list high-end real estate that may fit your needs (many also have on-line sites and blogs). Check out the NY Times (Sunday real estate section), The Wall Street Journal, The LA Times, The Chicago Tribune, and similar large papers in major cities.

A few other things to keep in mind. Get your financials in order - either get pre-approved (if you are considering financing a portion of the purchase for tax purposes) or be able to document your ability to pay cash (a letter from your bank, etc.). It is not unusual for the sellers, and agents, of very high-end end homes to request documentation of financial ability before a tour of the home may be granted (typically this will be homes in the $8 - $10 million range and beyond, but will depend on seller and agent preference).

If it is important that you remain anonymous as the buyer (in the case of celebrity status, great wealth, or other personal reasons), you should discuss this with your REALTOR, and perhaps consider using a family representative to look at homes during the selection process. It is possible that in some cases a well-known, famous, or celebrity name, if public, can hurt the chances of a fair negotiation for you.

Good luck! And please don't hesitate to request my assistance if I can help in any way, or provide further information.

If you are interested in seeing a sampling of high-end homes here in San Diego, let me know your price range and general requirements and I will email you the properties that meet your criteria.

Here's a link to a great post on updates on the mortgage scene, by a friend of mine who is a mortgage broker. Some good updates on what is going on in the market.

Take a look, and stop by his website too!

Luxury homes these days can provide just about any amenity you want, if you are willing to pay for it. Finding a home that has EVERYTHING you want may be unrealistic, but chances are you will find something that meets most of your needs, and you can make the needed modifications before you move in, or after living there for a bit.

So, what are the amenities YOU are looking for. Just as for a new buyer, it is important to have a good idea of what is really matters to you, so that you don't waste your time previewing properties that don't meet your specifications. It might help to create a master list so you can keep track as you tour homes.

Here are some general categories  to ponder. The intent here is NOT to provide you with an all-inclusive list but to get you thinking about the amenities, etc you might be seeking in your new home::

Finishes - rare and exotic woods for floors, walls, ceilings and/or moldings; 200-year-old limestone from France, unusual marble/granite/travertine surfaces (floors, counters, walls in baths), crystal lighting (Baccarat or other); custom paint and hand painted murals (walls, ceiling treatments); high-quality fixtures in baths and kitchens (possibly gold, bronze); custom stone/metal/glass work (stainless steel, bronze, wrought-iron)

Electrical - all-house computer-controlled lighting systems, possibly including light-sensored blinds and/or drapes on windows, all-house climate control, etc. Do you want to live in a true "Smart House?"; highest quality wiring for Internet, etc. in offices and other areas where computers may be used.

Rooms in general - several family gathering rooms; full bath en suite for every bedroom, with dual baths for "him" and "her" in the master; large separate dressing areas for both in the master plus extra-large and separate walk-in closets with cabinetry/drawers for storage and possibly a climate controlled room for furs (with security); safe for jewelry; extra large main kitchen with 1-2 supplemental kitchens for catered events and guests, including a full-accessorized outdoor kitchen; wine cellar; media room; library; separate his and hers offices with custom-built in cabinetry (including small personal kitchen and bath); full-equipped gym; spa room with showers, kitchen, saunas, steam baths; living quarters for in-house staff (or separate house), etc. etc.

Other buildings and features - guest house(s); gardener's room; large climate-controlled garage with room for 4 or more cars; private runway/landing strip or nearby access to private airport; security fencing with gate, cameras, etc.; one or more pools (with cabanas), tennis courts (possibly lighted), other sport facilities (indoor tennis, racquetball, basketball, bowling); dockage for yacht or sailboats, or easy access to waterways; outdoor dining areas, patios, viewing decks; water features (fountains, reflecting pools); gardens (rare or specimen plants and trees)

Design and style - are you seeking a home by a particular architect? A specific style (Mediterranean, Italian, contemporary, historic/antique); do you need a certain square footage (5,000 SF, 10,000 SF); What about acreage? Is being in a gate-guarded enclave important or a must-have? What about security in general? Are you interested in a home you can remodel with your own architect and decorator, or must it be move-in ready?

These are just a few of the things you might consider. Good luck, and please let me know if I can help in any way.