I have taken the plunge to seriously change my health including weight loss and dietary changes. When I made the decision I knew that in order to make a profound and long-lasting change I would need help. I contacted a sports nutritionist and exercise coach (Xavier Lenyoun with Xtreme Fitness). He performed a series of tests and extensive questions to determine my current situation and where I wanted to end up. I am not an exercise fanatic (to say the least) and am looking to head into the second half of my life in good physical condition with a high energy level. Now we start. We will exercise together, review my meals my fat loss and lean muscle gain. He will coach and mentor me to achieve more than I could do on my own. It is a long term relationship commitment.
Choosing a partner to help in your housing and real estate investments is just as valuable. When your first purchase with an agent is complete the relationship shouldn't stop there. If you are planning to build wealth through real estate or understand that your circumstances will change and so will you housing needs you need to cultivate the agent relationship. As an agent we are constantly bombarded with information about how to continue the relationship with clients, but relationships need two people to make them work. If your agent connected with you and understood your needs don't let them go. Respond to them when they send you information, send referrals their way. You will be building invaluable relationships for the future.
Mar. 18, 2008 - Taking your instincts to the next level
Your instincts may be good but a coach can help
Our two collies Spencer and Linus just completed their first day of herding school. It is truly a thing of beauty to watch these animals perform the tasks that they were created for. Collies are herding dogs and they didn't need any encouragement to understand that they were there to round up the sheep. What they did need was direction and instruction from the teacher in best technique and most efficient movement in herding the livestock.
It is like that in many areas of our lives, including Real Estate. You may have good instinct for bargains and an understanding of the contract process but having a knowledgeable agent to help facilitate the deal and guide you through the tumultuous market conditions can make the difference in how well you play the game.
Jan. 2, 2008 - Why Do You Want To Buy Real Estate?
2007 has been successfully put to bed and in the Real Estate world 2008 is still bloated and sluggish. Locally 312 listings expired (meaning they did not sell during the contract period). It still leaves us with over 2400 listings on the market. That is double what inventory levels were on average from 2000-2005. Land listings are even more out of whack with over 3500 lots or parcels for sale in the area.
What does all this mean for you?
Well, it depends on who you are.
Flipper aka short term investor
If you got in on the buy and flip mania that ended in 2005 and look at real estate as a liquid asset then you are done. Your day has past. That includes those who were third party investors and those living in the home but looking to unload in 2 years with a 100% profit.
Homeowner
You bought your house because you needed a place to live; you liked the area and neighborhood. You are going to do okay even if you bought in ’05, if you are able to stay in your house for a few more years. If you bought 5 or more years ago and need to sell stop trying to make a killing and just make a decent profit. Once your house is sold you are going to have a great choice in your next purchase.
First time buyer
You are holding all the cards. If you have good credit and stable income with some money down you can findgreat deals to get you into a home that was beyond your ability just 2 years ago.
Wealth building long term investor
You have hit the jackpot. There are and will continue to be great opportunities to actually purchase properties with positive cash flow and long term growth potential. This is the time that the rich get richer and the simple facts are that real long term wealth is achieved through real estate holdings.
So not only are the markets local but the reasons for buying are personal. Real Estate is a buy and hold investment opportunity that will bring wealth to those who can play the game. Just as with any investment strategy you have to understand your tolerance for risk and ability to ride through blips in market conditions. Then you can decide what category you fall into. One thing is for sure if you are serious about passive income and building long term wealth real estate should be part of your plan.
By now most Real Estate Agents are beginning to feel the effects of the current market slowdown. If you are a Real Estate Professional you probably know several colleagues who have given up on their career and sought other employment. It is a natural thinning out of a bloated industry. Nothing wrong with that. What I find interesting and quite frankly a little disturbing is what these former agents are gravitating towards for employment. So far I have seen them waiting tables, as store clerks and stockers. What I have not seen is movement into other professional fields. I am seeing them in generally unskilled positions. This is pretty interesting. People who over the last several years were entrusted with what was probably a person's biggest investment of their lifetime seemingly have no transferable skills in business. I know there is an argument for agents as being primarily sales professionals but I see this differently. Paperwork is becoming more complex as are transactions. Now more than ever understanding and using basic business protocols and management practices are necessary in facilitating successful Real Estate transactions. Although each State regulates the level of involvement in the process here in Arizona we have quite a bit of responsibility in the transaction. Shouldn't we at least have enough education and skill to qualify for other business jobs? Until the Real Estate industry takes itself seriously with increased educational requirements and continuing education credit classes that require critical thinking skills how can we ever expect to change the perception of the general public that we are true professionals?
I have a lot of friends and family in San Diego that I am worried about today. Some have had to evacuate their homes.
Here in Prescott we have some of the same fire concerns, hilly areas, windy conditions and difficult to navigate roads in the mountains. Below is some information from the US Fire Administration on what you can do to maintain your home to minimize the risk of spreading fires.
Wildland fires destroy hundreds of homes and acres of land every year across the country. Fire-safe landscaping is an effective tool that creates an area of defensible space between your home and flammable vegetation that protects against devastating fires.
The United States Fire Administration (USFA) encourages you to keep fire safety at the forefront by learning how to landscape and maintain your property to minimize possible fire damage and slow fires if they start. Remember, fire safety is your personal responsibility... Fire Stops With You!
Defensible Space Works
During the 2003 raging California fires, a number of homes were saved as a result of the owners' careful pruning and landscaping techniques that protected their homes. In a fire situation, the dead trees and shrubs surrounding your home act as fuel for fire. Removing flammable vegetation reduces the threat of fire. Follow these basic rules to create defensible space that works.
Remove all dead plants, trees and shrubs from the site.
Reduce excess leaves, plant parts and low-hanging branches.
Replace dense flammable plants with fire-resistant plants.
The choice of plants, spacing and maintenance are crucial elements in any defensible space landscaping plan.
Tips for a Fire-safe Landscape
Create a defensible space perimeter by thinning trees and brush within 30 feet around your home.
Beyond 30 feet, remove dead wood, debris and low tree branches.
Eliminate small trees and plants growing under trees. They allow ground fires to jump into tree crowns.
Space trees 30 feet apart and prune to a height of 8 to 10 feet.
Place shrubs at least 20 feet from any structures and prune regularly.
Plant the most drought-tolerant vegetation within three feet of your home and adjacent to structures to prevent ignition.
Provide at least a 10 to 15 foot separation between islands of shrubs and plant groups to effectively break-up continuity of vegetation.
Landscape your property with fire-resistant plants and vegetation to prevent fire from spreading quickly.
Choose Fire Resistant Materials
Check your local nursery or county extension service for advice on fire resistant plants that are suited for your environment.
Create fire-safe zones with stone walls, patios, swimming pools, decks and roadways.
Use rock, mulch, flower beds and gardens as ground cover for bare spaces and as effective firebreaks.
There are no "fire-proof" plants. Select high moisture plants that grow close to the ground and have a low sap or resin content.
Choose plant species that resist ignition such as rockrose, iceplant and aloe.
Fire-resistant shrubs include hedging roses, bush honeysuckles, currant, cotoneaster, sumac and shrub apples.
Plant hardwood, maple, poplar and cherry trees that are less flammable than pine, fir and other conifers.
Maintain Your Home and Surrounding Property
Maintain a well-pruned and watered landscape to serve as a green belt and protection against fire.
Keep plants green during the dry season and use supplemental irrigation, if necessary.
Trim grass on a regular basis up to 100 feet surrounding your home.
Stack firewood at least 30 feet from your home.
Store flammable materials, liquids and solvents in metal containers outside the home at least 30 feet away from structures and wooden fences.
No matter where you live, always install smoke alarms on every level of your home. Test them monthly and change the batteries at least once a year. Consider installing the new long-life smoke alarms.
I was not around last time the “short sale” slammed into the economy. So I attended a seminar this week from a very knowledgeable lender to learn just what was coming my way.
In addition to the technical terminology and ins and outs of dealing with lenders, sellers and buyers I learned something very valuable, Realtors must once again be ready to educate our clients and be the source of the source, pointing them in the direction where they can receive sound advice to make decisions that impact their lives.
Of course, in seminars such as these there is always one doomsayer that recalls how he has been involved with these and how horrible it is, taking up time with his tales of woe.
If my business is going to thrive in this tumultuous time I need to be informed so that I can inform. Home staging class here I come!
Aug. 15, 2007 - Do real estate professionals really understand this market?
An incident this week has me wondering. Unless you have been living in a cave for the past 6 months you know that the lending industry is in disarray. The freewheeling mortgage qualifications are gone and we are back in the button down days of 20% down and full documentation. That is just the start. As lenders try to conform to underwriters changing requirements there is going to be a lot of strange requests and cautious double checking.
But from the attitudes I have witnessed on a current transaction you would think that buyers are pulling lenders in from outer space. A lender asked for documentation on a trust and the escrow officer and sellers agent were so insulted that the deal almost fell apart. Where have these people been? Have they not seen the mortgage fraud issues and understood the fall out of the sloppy documentation that has resulted in some of the sub-prime debacle? Have the past few years of easy money in the high flying real estate market made us nothing more than paper pushers?
If we want to help this industry get back on its feet we had better explain to our clients up front that this is a new era and many things will be asked of us that were not thought of even a few months ago.
Education for our clients and now it seems, for our associates is going to be critical. That means understanding more than just our local market. We all knew that the role of the real estate agent was going to change in the future. I think the future is now.
Dishing it up- information and opinons on market trends, issues, technology and advances in Real Estate and related industries by Vicki Brannock, e-pro, ABR.
Comments are Encouraged! Please note comment area below each post.
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