Doug Patterson ABR®, SFR REALTOR®

Client or Customer? If You Don't Know, Then How Do You Expect Consumers to Know?

Mon, 16 Jan 2012 21:36:31 -0500

Charita Cadenhead, of Bham Wire Realty in Birmingham, Alabama has made some excellent points in her recent post on ActiveRain. There are alot of folks who really don't know what our REALTOR Code of Ethics demands of Realtors. Charita has brought a few of those to light!

Via Charita Cadenhead, Your Birmingham, AL Realtor® & Property Manager of Choice (Bham WIiRE Realty LLC ):

Client or Customer? If You Don't Know, Then How Do You Expect Consumers to Know?

It seems to me that while reading posts on ActiveRain, I read where agents refer only to "clients" and NEVER "customer." Should I assume that we all only work with "clients" or do we work with "customers" as well? Or could it be that some:

Just do so without thinking?

Don't know the difference between the two?

Want to sound more important by using the word client?

Want to give the impression that we only work with buyers that sign Buyer Agency Agreements (even though that isn't always true)?

Have forgotten that technically there is a difference?

Personally I think that the use of the words customer and client in real estate is for the benefit of agents only and a bit ridiculous to me. I mean consumers really don't give a damn. They just want to be treated fairly and we owe that to anyone that we work with regardless (or irregardless which should be removed from the English language) of whether they are clients or customers.

At any rate, you can call them what you like. I'm not really bothered by it like some. I'm just being the typical wordsmith here and thought the topic was a good one to chew on for a minute.

But since definitions exist in the world of real estate, we may as well know what they are and how they are applied.

Just in case you've forgotten or haven't read the Code of Ethics since Shep was a puppy, here's a little refresher:

Standards of Practice 1-2

As used in this Code of Ethics, “client” means the person(s) or entity(ies) with whom a REALTOR^® or a REALTOR^®’s firm has an agency or legally recognized non-agency relationship;

“customer” means a party to a real estate transaction who receives information, services, or benefits but has no contractual relationship with the REALTOR^® or the REALTOR^®’s firm;

“prospect” means a purchaser, seller, tenant, or landlord who is not subject to a representation relationship with the REALTOR^® or REALTOR^®’s firm;

“agent” means a real estate licensee (including brokers and sales associates) acting in an agency relationship as defined by state law or regulation; and “broker” means a real estate licensee (including brokers and sales associates) acting as an agent or in a legally recognized non-agency capacity. (Adopted 1/95, Amended 1/07)

Origin of BDAMB from Bham (The Back Door Ambassador Series)

BDAMB Gains Access Through Front Door

Charita Cadenhead, Your Metropolitan Birmingham, Alabama Real Estate Broker of Choice

Got a question about Metropolitan Birmingham real estate? Just ask Charita. Need a good Realtor(R) to help you find a new home or sell the one you already own? Just shoot me an email. In need of a rental property? Subscribe to be notified whenever we list a new rental or home for sale.

www.inandaroundbirmingham.com
bhamwiire@gmail.com
(205) 527-1112 - cell
(205) 321-1200 - Office
(800) 496-7431 - Fax

One thing about being in real estate: I can't hide even if I tried. Bham WIiRE Realty: We're Everywhere You Want to Be!

Doug Patterson ABR®

Park Place Real Estate, Broker-In-Charge

SFR HUD Certified Broker

Buyer Sues Seller For Not Disclosing Deadly Plants Eaten By Pet Rott. Disclosure Nightmare?

Sun, 08 Jan 2012 09:39:05 -0500

Buyers need to beware of everything they can, while considering the purchase of a home. Having a great inspector during the "Due Diligence Period" is paramount. That being said, you've got to read this post! It's very interesting. In North Carolina, we are "Buyer's Beware" state.

Thanks to Greg Nino for this funny, but eye-opening, post!

Via Greg Nino Houston Texas (RE/MAX West Houston Professionals):

Your average home seller isn't a Botanist. And your average seller plants and cares for many plants and shrubs they know very little about. Throughout the Houston area we have an abundance of Oleanders. These shrubs are widely popular because of their extreme durability, price and overall appearance.

When consumed by mammals, especially dogs, oleanders can kill. But so can many other types of plants. A friend of mine who owns a landscaping company told me that many of the plants in your average garden are considered toxic. One lady reportedly died from attempting to make oleander tea as a last ditch effort to cure her cancer. Another man died from eating mass quantities of it because he read that it was a natural plant that could cure his stomach cancer.

Should a seller disclose anything they know about the dangers of their plants?

If I were an attorney, and I'm not, I'd say yes. You should disclose anything relevant to the property that might expose you for claim. Best to over disclose and get a signature...then be forced to explain later.

Or maybe that's being extreme. It's not like homeowners disclose that the batteries in the upstairs smoke detector are old, cheap and likely to stop working. I suspect there will be comments from readers on this post that will suggest a buyer with pets should have the responsibility to decided if plants are harmful to their pet or not. A seller shouldn't be responsible to understand, learn or know the danger levels of every plant or chemical used in their lawn. Lets not even talk about the oranisms in the pool or type of fertilizer tossed out back. Damn those electromagnetic fields from the power lines! RUN FOR YOUR LIVES!

Today you're the Jury!

The Plaintiff (buyer) is suing the homeowner for 10 trillion dollars because the buyers salivating Rott ate some oleander as a side salad with the neighbors pussy cat & died. Hey don't laugh, this is America.

Houston Newsletter

Our Super Cool Listings

Homes We've Sold

The information contained in this blog is believed to be reliable and while every effort is made to assure that the information is as accurate as possible, the author of this blog, and its comments disclaim any implied warranty or representation about it's accuracy, completeness or appropriateness for any particular purpose. All information is copywritten and the property of Greg Nino.

Doug Patterson ABR®

Park Place Real Estate, Broker-In-Charge

SFR HUD Certified Broker

Are You Rich? Self-Check Time

Sat, 24 Dec 2011 23:56:41 -0500

How do we look at people who may be temporilary down on their luck....and what may have caused that situation.

Thanks to Gary Woltal from the Dallas, Ft. Worth area for this excellent photograph that represents so many in our comunnities across our beloved country.

During this season of giving, please take a moment to reflect how we all are affected by circumstances.

Via Gary Woltal - Assoc. Broker REALTOR® SFR Dallas Ft. Worth (Keller Williams Realty):

"Do not judge by appearances; a rich heart may be under a poor coat."

~ Swedish proverb

Doug Patterson ABR®

Park Place Real Estate, Broker-In-Charge

SFR HUD Certified Broker

Accompanied Showings In Real Estate Don't Create Sales

Sat, 24 Dec 2011 23:45:30 -0500

Homes are not "sold by Realtors"....Homes are bought because the home buyer likes the home and everything about it....location, schools, and yes...the home is perfect for the buyer....or at least somewhat perfect!

Thanks to Bill Gassett, from Hopkinton Massachusetts, for this inciteful perspective on Home Buyers and what they need from their Realtors!

Real estate agents "help their buyer clients" by providing information, knowledge about how to move through the purchasing process (including Contracts & paperwork involved) and teams of people who can assist in that process.

Via Bill Gassett Metrowest Massachusetts Real Estate (RE/MAX Executive Realty):

Original article source: Accompanied Real Estate Showings

For those that do not live and breath selling Real Estate every day you may not realize what the term “accompanied showing” means. This little piece of Real Estate jargon is when the buyers agent is required to meet the listing agent when showing a home or other property.

When I am getting ready to schedule all the properties I am going to show for a particular day the last thing I want to see in the showing instructions is that the listing agent has to be present so please coordinate your schedule accordingly. This is almost as bad as the home seller that makes it a requirement they have twenty four hours notice before a Realtor can enter their home.

Thankfully we do not have accompanied showing in Metrowest Massachusetts area all that frequently. This is certainly not the case all over Massachusetts as it becomes more and more common in some of the cities surrounding Boston. Some areas around the country have accompanied showings and others do not. Why? Who knows but more than likely it all started with an areas tradition.

I am this way of doing Real Estate business has never caught on in my neck of the woods. Frankly an accompanied showing is a waste of a listing agents time and does nothing to enhance the home sale process. There is a long standing misconception amongst some people that Realtors “sell homes”. It may come as a surprise but I have rarely ever “sold” a home in this sense of the word to any client I have ever worked with.

Homes are an emotional purchase. Buying a home is not something a Realtor talks somebody into doing. Realtors can be give advice and provide helpful information but homes sell themselves. In the twenty five years that I have been selling Real Estate there is one commonality when a buyer enters a home they like.

There is an an emotional reaction and you can see it in a persons body language and facial reactions. There are times when a buyer walks into a home you can just feel that it is a match and they will end up putting in an offer. This scenario occurs because of human emotions and attachment. It has almost nothing to do with a sales pitch.

To continue reading the full article see accompanied Real Estate showings.

___________________________________________________________________________________________________

About the Author: The above Real Estate information on accompanied real estate showings was provided by Bill Gassett, a Nationally recognized leader in his field. Bill can be reached via email at billgassett@remaxexec.com or by phone at 508-435-5356.

Have a home to sell in Metrowest Mass? I have a passion for Real Estate and love to share my marketing expertise!

For Massachusetts Real Estate information see Massachusetts Real Estate. Want to have MLS access to beat other buyers to your dream home? Sign up with no obligation at my MLS Property Finder Site.

I service Real Estate short sales in the following towns in and around Metrowest Massachusetts: Hopkinton, Milford, Framingham, Franklin, Upton, Bellingham, Southboro, Westboro, Ashland, Holliston, Mendon, Northboro, Shrewsbury, Hopedale, Medway, Grafton, Northbridge, Uxbridge, Millbury, Worcester, Natick, Sutton and Douglas MA.

Building lasting relationships by helping people move in and out of Metrowest Massachusetts for the last 25 years.

Doug Patterson ABR®

Park Place Real Estate, Broker-In-Charge

SFR HUD Certified Broker

Inman Top 100 Most Influential List & Most Successful: Where Do You Fit?

Thu, 22 Dec 2011 09:19:35 -0500

Congratulations! TO loreena Yeo of Frisco, Texas, for this enlightening post about sales and salespersons. Please click on the "Go Givers Sell More" link...and read that as well. Excellent advice for all persons working in real estate or any other "sales environment". Thanks Loreena for this inciteful post.

Via Loreena Yeo, Realtor®| Frisco TX Community Ambassador (214)783-2210 (3:16 team REALTY ~ Locally-owned Frisco TX Real Estate Co.):

Recently, Inman published its 2011 Top 100 Most Influential list and a recent post mentioned that the Most Successful Agent began his journey here on AR. I quickly scrolled through the list to see who made it, why they made it and what factors make them on the list.

It's no doubt that in our real estate industry, success and influence are defined by the number of transactions and sales volume. Most of these top producers work in a TEAM environment.

I don't have any published stats and neither do I have a clear understanding of how most businesses are set up: individual agents versus team environment. So, I cant say for sure, but I know having a team produces far beyond what one individual can do.

Where there is a list, there is a ladder. The competitiveness of my nature wants to get me on it and move up. It's also a very natural entrepreneurial spirit. But a couple of years ago, I gave up beginning my year with # transactions, # sales volume I needed to close on my business plan.

I find it very stressful to keep up with my list and my expectations.

What I read about influence and compensation in Go Givers Sell More changed my perspective. It talked about how top athletes, celebrities earn the money they do, versus a school teacher, a church pastor - what noble work they do, yet they bring home what they bring home. According to the book, it's about IMPACT. Goodness and worthiness have nothing to do with compensation. Compensation has something to do with IMPACT.

I walked about thinking more about IMPACT. In our sales world, I guess the word IMPACT also refers to marketing and how we keep our "pipeline" full. It's reality.

So, instead of starting out my year with # transactions or # sales volume, I chose to write my business plan based on IMPACT VALUE. I don't necessarily say how many transactions I need to close but instead talk about how many families I want to impact. Now, every once a while, I'm not able to make an impact on some families - for whatever the reasons are.

When I began my journey here on AR, I quickly could tell who's successful in the business, who's not. My years are young in the business and I was trying to kill myself comparing me to those who have been in the business, possibly for times I have walked this earth. When it came to it, there is no comparison. They too, are at a different stage of lives not similar to mine. They are probably empty nesters, or at least have no 4-year olds tugging on the leg, trying to take a phone call professionally. There's so many factors I had to learn to take into consideration. Not just the success they have versus mine.

I smile. I'll do what I can to make a positive impact for those I serve. The forces of nature really will take care of itself.

Nope, I'll never get on anyone's life, make it to Top 100 or even be considered as "Most successful" in the world of real estate, but I gather enough to put food on the table for my family and then some. Who's to say, I'm not successful in His eye?

If charting # productions, volume serve you well, continue to do it. I understand there must be a baseline to know what your break even point is because this is after all, a business - not a hobby.

But for those who do compare yourself to others - don't. It's always "looks" greener on the other side. I promise you that.

Be yourself, push where you need to be, and in the end, let nature takes its course. Don't ever be accused for not trying hard enough. But when you do, just know that that was your best you could do at that given time.

My hope for you in 2012: Onwards and upwards!

Doug Patterson ABR®

Park Place Real Estate, Broker-In-Charge

SFR HUD Certified Broker

What Do Realtors Really Want From Their Lender When They Refer A Client?

Sun, 18 Dec 2011 16:46:38 -0500

Thanks to Rick Obst with Obst Business Solutions Team in Eugene, Oregon for this terrific post. Buyers should be able to count on their Lender to do the following. A recent experience with a new lender the client wanted to use, has confirmed my convictions about the professionals I refer clients to, each and every day.

Via Rick Obst with Obst Business Solutions Team (Obst Business Solutions Team):

I posted a question on some real estate forums asking Realtors what they expect from a lender when they refer a client. I received a number of excellent answers:

I like working with resources that "work the way I do" - accessibility is so important and this is generally where my lender of choice comes out #1. I recommend several, but she's the one that takes the call and so generally she gets their business. Service and the ability to deliver: she has the clout and access to make things happen. While she can't control everything, she remains engaged and involved throughout. And yes, I do appreciate reciprocity. This has become more of a focus for me recently - just joined a networking group and I think the idea of helping one another grow is important.

Accessiblity, Communication, and to be copied on everything they send my client!

I have high expectations for myself as well as my Broker. Communication is KEY. Keep me in the loop and update me, and keep me informed of any problems. Be ethical, available, honest and proactive. I consider the lender my TEAM member and want the transaction to go as smoothly as possible.

First and foremost, I want a loan officer who is completely honest and upfront with me and my client. It is also very important to me that the loan officer respond quickly to inquiries, be available to answer the buyer's questions, and keep us updated throughout the process. Of course, it is vital that there are no surprises at closing and that everyone is in the loop regarding the status of the loan throughout the entire transaction.

I want a loan officer to contact the buyer, return all calls promptly, give me some feedback after the buyer has been contacted and find and solve problems. I love when a loan officer calls me to tell me there was a problem but they have fixed it and the buyer is happy. Great, one less thing for me to worry about. I don't care if you send me a referral but take care of the ones I send you.

Someone who returns calls, has great customer service and continues to ask great probing questions of the buyer.

I look for someone that is knowledgeable, follows up consistently, is personable with clients that are referred to them & provides great customer service. This to me is the greatest attribute a loan officer should have. If customers don't like them or they can't be reached once they take the application no matter how much they know, they aren't going to want to work with them so attitude is everything.

Honesty - They have to tell the truth to both the agent and the client. What are potential issues and hurdles that may be faced in a transaction? Must offer a fair deal to the consumer and be sure the consumer will ultimately be thankful for the referral.
Access - They have to be available at all times. If not - they need to have someone competent handling their affairs while on vacation. If I need an amended approval at 10pm on Sunday evening - I want to know I can have it.

How would you answer this question?

Doug Patterson ABR®

Park Place Real Estate, Broker-In-Charge

SFR HUD Certified Broker

If your career isn't going where you expected, it might be you.

Thu, 15 Dec 2011 13:09:51 -0500

Congratulations and thanks to Mike Cooper of Winchester, Virginia, for this excellent post! Having "Great Expectations" will lead you to happiness and good health, and a good relationship with your family, friends, and clients!

Via Mike Cooper, Real Estate Agent-Broker, Winchester,VA (Cornerstone Business Group, Inc.):

Over the past 30 plus years I've worked with a lot of couples who where struggling with their marriages. There is one stress issue that has come up over and over, whether voiced or not, but it's not money. The number one reason, beyond adultery and abuse, for couples to break up is failed expectations.

It might have been promises not kept as the core of the failed expectations. For instance, a young man may woo a girl into relationship, and ultimately into marriage, because of the potential for a comfortable life with lots of "stuff" and all that life can offer, like kids, cars, a nice home, great vacations, etc. But, when reality hits, the economy turns upside-down, the jobs or promotions don't come, the money is too little and the expectation is crushed. Soon after, the marriage falls apart.

The same can be true in your career, or any career for that matter. When you entered your current career, you probably didn't expect to experience the longest running recession since the Great Depression to be your current and constant norm.

You may not have expected your chosen field to be the hardest hit in an economy that is struggling to get on track. You probably didn't think that clients would use your services with promises of financial reward, only to turn their backs on you just before payday or that a co-worker would steal a customer away when you weren't looking.

These things all happen in life, but there is a flip-side to living in a world of failed expectations. You can just as easily live in a world of expectations. Today, I had a client email to tell me that her husband decided to go with a family friend for their current listing needs. I had done all the leg work, set a price for their upcoming sale, provided all the paperwork for their short sale and they took it followed by a short email and a simple "sorry, but" line that would leave most of us frustrated. It did me.

But, on other side of that event, I still live a life of expectation. It's hard sometimes, but it's a much better way to live. Three hours later, I received a new listing. I could have sulked over the lost opportunity, or I could believe that good things are going to come my way day after day. When they come, they are there because they are expected. There is a great power, or faith, in expecting good things to come into your life.

One of the things I always asked each individual in a marriage couple counseling session is, "What would you have to change to be happy in any relationship?" That normally caught them off guard because they wanted me to ask what their partner would need to change in order for them to be happy, but the truth is no one can make you happy or sad without your permission.

So, as you're thinking about your career, "What would you have to change to develop a life of expectation in your career?"

********************************************************************************

Give me a call for all your real estate needs, and let's make something amazing happen.

Mike Cooper @ Cornerstone Business Group, Inc., 888-722-6029

Real Estate Sales and Property Management

(Disclaimer: All grammatical mistakes, punctuation breakdowns and misspellings are purely for your amusement and entertainment. Feel free to cackle.)

Doug Patterson ABR®

Park Place Real Estate, Broker-In-Charge

SFR HUD Certified Broker

Problem…Ignored

Sun, 04 Dec 2011 12:19:13 -0500

Inspections are critical for Buyers looking to find out about their upcoming purchase. As a Buyer's Agent, I place a great emphasis on full inspections, from the General Inspection, Sewer Tank Inspections, Radon Gas Inspection Report, Termite and other wood boring insects Inspections, as well as specialized items like Chimney inspections, especially in older homes.

Thanks to James Quarello, of Wallingford, Connecticut for this insightful report concerning Water Issues around this home.

Buyers take note! Don't buy an Unknown Problem, if it can be found and corrected with a good Inspection!

Via James Quarello - Connecticut Home Inspector (JRV Home Inspection Services, LLC):

One of the purposes of hiring a home inspector is that in order to find and coordinated every tradesman and contractor necessary to inspect a house would be a logistical nightmare. The other is bias or should I say lack of.

The home inspector unlike for example the plumber, has nothing to sell other than his skill inspecting homes. Sure the plumber is way more knowledgeable about plumbing, but he makes his living installing pipes and associated components, not inspecting them. The other aspect of an expertise is the expert may often see their product/skill as the answer to the homeowner’s problem even when it may not be the solution.

During a recent home inspection of an end unit condo I found the patio at the rear of the unit settled by several inches. The slope of the patio was such that it had created a nice little wading pool against the house when it rained. The dried mud tells the story. The concrete stairs next to and along the patio had also settled similarly. No doubt all this sinking was due to water collecting against the foundation.

I noted a sump pump discharge along the same wall. Not really a surprise to see considering the exterior drainage conditions one would think.

Inspecting the basement I found it finished at the corresponding wall. I also found the sump pump installed in the corner at the point where the water pools on the exterior and wall drainage. Wall drainage is a gap cut into the floor at the wall in order to collect water running in through the wall. This drainage system was only, as far as I could tell, along the rear foundation wall. I did not see it along any of the other exterior foundation walls.

Does this system address and cure the problem of the poor drainage on the exterior? No, I do not believe it does, but the company that put it in accomplished their goal. They sold their product and services. Did I mention all the carpeting in the basement had been removed and there were water stains along the finished walls.

Clearly the main issue with water penetration in this basement is the patio and the soil grading and drainage. Water penetration does not seem to be an issue on the other two exterior walls because it would seem the grading and drainage there is proper. This sump pump may indeed be necessary, but the root cause of the problem has been ignored.

And everyone knows ignoring problems doesn’t make them go away.

James Quarello
Connecticut Home Inspector
2010 - 2011 SNEC-ASHI President
NRSB #8SS0022
JRV Home Inspection Services, LLC

To find out more about our other high tech services we offer in Connecticut click on the links below:
Learn more about our Infrared Thermal Imaging & Diagnostics services. Learn more about our home energy audits, the Home Energy Tune uP®.
Serving the Connecticut Counties of Fairfield, Hartford, Middlesex, New Haven, Southern Litchfield and Western New London.

Doug Patterson ABR®

Park Place Real Estate, Broker-In-Charge

SFR HUD Certified Broker

Access To PAPERWORK Needed To Make Home Offers

Sun, 04 Dec 2011 12:07:34 -0500

As a Buyer's Agent myself, I definately agree with Gary Woltal from the Dallas, Fort Worth Texas area, documentation about the home is so vital. There are lots of public records usually available to Buyer's Agents to help the Listing Agent in getting a fair offer. However, so much more information such as "recent repairs", planned repairs, new square footage finished and now included, and the list can go on and on!

If you are planning to list your home for sale, mention to Listing Agents that you want every document uploaded to the MLS that will help Buyers know how thorough you are as a seller. It speaks volumes for your interest in working with Buyers! ....and isn't that your goal, Sellers?

Via Gary Woltal - Assoc. Broker REALTOR® SFR Dallas Ft. Worth (Keller Williams Realty):

In addition to ACCESS to getting into a home for a showing a pet peeve I have with some listing agents is the proper PAPERWORK a buyer agent needs to make an offer. ACCESS to that paperwork.

Um, excuse me Mr. Seller but WHERE is your paperwork? Why are they hiding it, foot dragging finding documentation, or filling out forms? A thorough Listing Agent gets this from their seller.

Documents like the Survey, Seller Disclosure information, all the photos, detailed information about exclusions, and how about state mandated addendums on some exclusions that all parties need to be aware of like mineral rights or a lead based paint acknowledgement for older homes? Where are these documents? Do I have to look under the bed in the Master Bedroom. I get funny on this at times as my PAPERWORK EXAM with glasses on but THIS stuff or lack thereof slows everything down in making an offer. Bonus material would be a floor plan or maintenance records. Get me my stuff and we will get started on the offer. HELLO? That IS what you want, right Mr. Seller?

Doug Patterson ABR®

Park Place Real Estate, Broker-In-Charge

SFR HUD Certified Broker

FEMA Reshapes The Landscape of Our Business...

Fri, 07 Oct 2011 18:01:00 -0400

Thanks to Deb Brooks of Connoe, Texas, we may all want to check with our lenders concerning the new FLOOD MAPS! Insurance costs for flood insurance could be a real issue, Financially Speaking!

Via Deb Brooks, Lake Conroe Real Estate, 936-661-2624:

I received two calls today from my blogs about FEMA from local residents! It is a double edged sword since I am reporting and explaining bad news. August 16, 2011 the new FEMA flood maps became official.

As of today, Wells Fargo customers are receiving their Flood Certification Notices. Others may be too. The new maps are now replacing the old and the perimeters are much, much different. Homes that once showed in the "safe zone" or the "C zone" are now showing in the "A zone". What does this mean? This means that their property has just been bumped into the "YOU HAVE TO PAY EXTRA FOR FLOOD INSURANCE" zone. All maps have been re-zoned to include many more properties and acres in the 100 year flood zone.

A nice local gentleman said, "hi, I came across your blog on FEMA and the new Flood Zones and I have some questions. I received a notice from my lender, Wells Fargo today stating that I am in the "A zone". I read your blog where it said you were getting quotes for as much as $20,000 per year for properties that are in this zone". I explained that I managed to find a man that could cover the home for as little as $569.00 per year with a request for grandfathering.

Problem is, the gentleman I spoke to today purchased his property in 2009 and I am not certain how long you must be in your property before you can become grandfathered.

Oh "sigh". I was afraid of this. All chaos is about to break loose.

This is going to cause a great many FORECLOSURES AND SHORT SALES. People are not going to be able to afford this kind of money on or near the water.

For all new closings: A lender must provide a notice of SFHA (special flood hazard area) to a purchaser within ten days of the closing. If the borrower does not comply by purchasing the insurance within 45 days the Federal Government will require the lender to force and choose insurance for the homeowner. This price on the insurance can be exorbitant!

ADVICE: If you feel your property is above the water level of the dam then I recommend a survey. It is called an Elevation Certificate and runs around $350.00 in this area. Most surveyors are equipped with laser equipment that can handle the job. Once you receive your survey with the elevation, photos, legal description you will turn this in to FEMA. If it shows a mistake then you will be re-zoned. This could help on your price.

Be sure and check with your insurance provider and then check with the FEMA certified insurance providers for separate quotes. The quotes can vary by a huge amount of money. My personal recommendation is:

Gary Blome

WWW.EFLOODQUOTE.COM

gblome@floodorder.com

PH 800-901-1971

Fax 800-456-9830

I spent days looking for him so feel free to save yourself a lot of time and trouble and give Gary a call.

Good luck to all.

This is another change that will be reshaping the entire landscape of our business.

**********************************************************************************

Brooks Prime Properties, LLC
Waterfront Real Estate Specialists
936-295-0005
Lake Conroe Real Estate, Lake Livingston Real Estate
Your Waterfront Realtor® Deb Brooks

www.brooksprimeproperties.com

www.lakeconroeprime.com

Some photos attributed to FreeFoto.com

Lake Conroe, Lake Livingston Video Advice!

Doug Patterson ABR®

Park Place Real Estate, Broker-In-Charge

SFR HUD Certified Broker

New Good Faith Estimate (GFE) And Truth In Lending (TIL)

Mon, 19 Sep 2011 08:49:39 -0400

Thansks to George Souto of McCue Mortgage in Middlesex County, Connecticut, for this update on the Good Faith Estimate and the Truth-In-Lending changes that are forthcoming. I think anyone who has had a recent mortgage will agree that these needed to be more clear to the homeowner!

Via George Souto NMLS# 65149 FHA, CHFA, VA Mortgages Connecticut:

After almost two years since the new Good Faith Estimate (GFE) and Truth In Lending (TIL) have gone into effect, Washington is coming to the realization that everyone in the Lending Industry came to the minute that the revised forms were unveiled. The Lending Industry has been stating for almost two years that these forms do not do what they were meant to do. In fact these two forms not only fall short of what they were intended to do, they may even be accomplishing the opposite.

The reasoning behind the new GFE & TIL was to bring about more transparency. So the new GFE went from a one page document to a three page document, and the TIL from a one page document to a two page document. The TIL may have actually moved closer to accomplishing the intent of the document, but it still fell short, but at least it was a step towards more transparency. The GFE on the other hand was a completely different story. Here are some of the reasons why:

No where on the form is the Loan Program Listed (it was on the old form)

The total monthly payment (principle, interest, taxes, insurance, & MI) is not disclosed. Only the principle, interest, and if applicable, MI are disclosed. Borrowers want to know what their total monthly payment is going to be and not just the principle, interest, and MI (the total payment was disclosed on the old form)

Many of the fees are not individually disclosed, but grouped into one total (they were all individually listed on the old form). Example:

Lenders Fees are combined and given as one total

Title Insurance and Attorney Fees are combined and given as one total.

Escrow for Tax and Insurance are combined and given as one total.

So now Washington has finally come to the realization that if they want more disclosure and transparency, that they need to talk with, and listen to the advice of those who work with these document daily. The new effort is to combined the GFE and TIL into one document, and to clearly state, and provide the transparency that was intend with the present documents.

The drafting of this new document is underway, with hope to roll it out in the near future. I for one am looking forward to seeing what it looks like, and will reserve judgment until I see it. But if the points that I made up above are address and correct, this documents will make a marked improvement to finally start to provide the transparency that is long over do in the Lending Industry.

******************************************************************************************************************

Who To Call For Your Mortgage Needs In Connecticut:

George Souto NMLS# 65149 is a Loan Officer who can assist you with all your FHA, CHFA, and Conventional mortgage needs in Connecticut. George resides in Middlesex County which includes Middletown, Middlefield, Durham, Cromwell, Portland, Higganum, Haddam, East Haddam, Chester, Deep River, and Essex. George can be contacted at (860) 573-1308 gsouto@mccuemortgage.com, or visit my McCue Mortgage Homepage.

Doug Patterson ABR®

Park Place Real Estate, Broker-In-Charge

SFR HUD Certified Broker

Can't Live with Them and Can't Live without them - Home Inspectors

Sat, 10 Sep 2011 10:16:13 -0400

Thanks to Ginny Gorman, who has shared a her experience with Septic Tank inspections in Rhode Island marketplace. In our Triad Region, I can certainlly recommend a terrific and Knowledgeable Septic Inspector....Thanks again, Ginny!

Via Ginny L Gorman North Kingstown Realtor Expert (401)529.7849 www.RIHouseHunt.com (Phillips Post Road Realty- Waterfront & luxury homes):

Can't Live with Them and Can't Live without them - Home Inspectors. It is one of those things when you are the listing agent and you hear the name of the company that the buyers are using and you just groan to yourself. They are horrible - is what goes through my mind from past experiences from other agents that have shared their experiences with this company. Okay, suck it up and be ready for battle. I come prepared to be right there and see what goes down in my clients home.

Actually I was pleasantly impressed on this day with the home inspector - up to a point. This one from "Scare Me Company" seemed to know what he was talking about heating, electrical and structural wise. A good house he says and yes I of course am nodding my head in unison. Well it is- some houses I might have a lump in my stomach about what might happen but not this one.

Home inspectors are like good apples and bad apples...some just belong in the compost bin. Okay, I don't want my favorite home inspectors Jay Markovich, Michael Thornton or Clint McKie at all calling me on the carpet on this one. This is my call. I expect a home inspector to do a thorough home evaluation and give the pluses and minuses. Have no issue with real deficient conditions being shown- that is what they are there for but I do have issues with home inspectors who have been in the business a number of years and do not know the somewhat basics of a heating, electrical or septic system. So I am getting to the issue...the septic system.

The home inspector is testing the ISDS septic system put in as of 2003. It has been maintained properly as required by the town of record. The home inspector says the water is not going down but it is rising and something he is tapping on in the middle of the tank...probably an internal cover gone astray maybe blocking the septic system. I am scratching my head because this does not sound like a typical tank and not like one I have experienced many times. Who put the system in? A very reputable firm and I called him right up and he said he knows just what the issue is, he'll meet me there in the morning. Now the buyer is a bit unnerved and I am thinking this needs to be salvaged and there has to be a reasonable explanation for a newer system to be 'improperly working'.

The next morning during the monsoon downpour here, Paul, the septic installer, meets me and the buyer's agent at the septic and pulls the zabel filter up from the middle of the septic hole and like a cork unplugged from a fine wine, the water wonderfully drained down more than a foot in less than 5 seconds...no kidding! See he says some of these home inspectors don't have a clue the filter is in the middle. This is one sorely clogged filter and should have been cleaned every 6 months but they haven't had it cleaned in nearly 2 years- that is what the problem is, he says. The buyers agent is shaking her head but the home inspector has been doing this for 30 years how could he not know? You hired him, I did not.

So the battle of the septic guy with the home inspector never came to be. The home inspector came back out almost swallowed his teeth and gave a clean bill of health to the septic. That is why I like a fine glass of great cabernet wine in the evening after a day like this and some rain drenched pants it was actually worth getting it right for the sellers and the buyers.

Buyers do make sure your home inspector knows his stuff, check Angie's list and ensure you know who you are hiring as a trusted and knowledgeable home inspector...it is your home and you are going to be living in it for awhile. Make sure the home inspector knows how to inspect a septic system! Can't Live with Them and Can't Live without them - Home Inspectors.

!!!!!!!!!!!!!!!!!!!!!!!!

Ginny Lacey Gorman is a North Kingstown Realtor who works and knows the RI geographic area of homes for sale, schools, happenings, important tidbits of information and businesses well. Waterfront, water view, ocean front, luxury and coastal RI real estate are her specialty, so call Ginny for your buying and selling home needs. As North Kingstown short sale agents, she and her team helps clients navigate successfully the rough short sale waters throughout RI, contact Ginny if you are having trouble paying your mortgage. When you are in need of an internet savvy RI realtor® who sells homes in this real estate market, call Ginny today at 401.529.7849.

This blog © and its contents is original to Ginny Lacey Gorman

Ginny L. Gorman a purveyor of Fine RI Real Estate

Specializing in waterfront, ocean front, vacation, coastal and luxury homes for sale in North Kingstown, South Kingstown, Narragansett, Jamestown, Charlestown, East Greenwich, Exeter, West Greenwich, Westerly RI and beyond ... I sell dreams! because there is no place like home...the RI Realtor in the Sparkly Red Shoes.

Looking for a terrific Rhode Island Realtor? Let me GOOGLE one for you!



cell: 401.529.7849   office: 401.884.4100 ext.268 Ginny Lacey Gorman, Realtor

Find me on Zillow.com

www.RIHouseHunt.com

Doug Patterson ABR®

Park Place Real Estate, Broker-In-Charge

SFR HUD Certified Broker

Are you a customer or a client? Do you know the difference?

Sun, 04 Sep 2011 13:35:13 -0400

Thank you, Janna Scharf! The Idaho agency laws are very similar, if not exactly, as they are in North Carolina. For me to become your Buyer's Agent, the buyer must sign an agency document, and in North Carolina, it's the "Nonexclusive Buyer Agency Agreement". Once that's executed, the agency agreement then represents the buyer fully, and is no longer the Sub-Agent of the Seller.

Via Janna Rankin Scharf Coeur d'Alene and North Idaho Homes (Keller Williams Realty Coeur d'Alene):

Janna Rankin Scharf, GRI, CLHMS, SFR - Coeur d'Alene Idaho Real Estate Agent

As a Realtor, I work with both customers and clients. Do you know the difference?

I am a real estate agent when I'm working for my clients. I am a non-agent when working with my customers. The difference is whether or not you and I have entered into a written agreement for agency representation.

Typically, sellers enter into a written agency agreement with the signing of the listing agreement. There are exceptions, but not often. Almost always, a listing agent is actually that, an agent of the seller.

On the other hand, buyers tend to be more inclined to remain customers as they work with a Realtor to buy a house. A buyer agency agreement will transform you from customer to client status. I don't believe any buyer who understood agency would proceed without it.

The biggest difference to you, between being my client or my customer, are some very important obligations I am held accountable to, under state law. When I am your agent and you are my client, we have a fiduciary relationship and I am legally held to a higher standard of conduct.

State license law defines the terms of our customer and client relationships -

When you are my customer I am required to:

Perform necessary and customary acts to assist you in the purchase or sale of real estate

Perform these acts in good faith and with honest and reasonable care

Properly account for money or other property you place in the licensee's care

Disclose adverse material facts which are, or should be, within the licensee's knowledge
As a customer, your brokerage will not act as your agent and is not required to promote your best interests or keep your bargaining information confidential. If you use the services of a brokerage without a written agreement, you will remain a customer.

When you are my client, the points above apply, along with these addition obligations:

If you choose to sign a representation agreement, you will become a Client. The brokerage and its licensees must act as your Agent. They will owe you the following duties in addition to the basic Customer level services required of all licensees:

Perform the terms of your agency agreement with skill and care

Promote your best interests in good faith, honesty, and fair dealing

Maintain the confidentiality of some client information, including bargaining information, even after the representation has ended.

In a nutshell, as your agent, I am required to work for you with skill and care. I like to think that I operate that way with everyone, but I'm not required to by law! If you are my customer, I only need to exercise reasonable care, not skill. This always makes me smile.

I am also now required to promote your best interest. This means I am obligated to seek the best possible outcome for YOU, no matter what. I am not the referee of the transaction, I am your coach, trying to win the toss, get the home team advantage, point out fouls of the other team, get the extra seconds added back to the clock. I am legally bound to promote YOUR best interest!

What the confidentiality of the bargaining information means to you is that I cannot tell the other side of the transaction that you would pay more than our offer, or take less than you're asking. Or anything else that has to do with your motivation. On the other hand, if I know anything about the motivation of the other party which would be in your best interest to know, I am obligated to pass that information to you.

(Now having explained this, you can clearly see the disadvantage to a buyer who is working with the seller's listing agent to purchase a property.)

Specific duties owed by a real estate brokerage and its licensees to Idaho consumers are defined by the "Idaho Real Estate Brokerage Representation Act." Idaho Code Section 54-2082, et seq.

Janna Rankin Scharf provides a superior level of real estate services to home buyers and sellers in Coeur d'Alene and Kootenai County, Idaho. Visit www.JannaScharf.com to search for homes in the Coeur d'Alene MLS for anywhere in spectacular North Idaho.

No matter how grand or modest your real estate dreams may be, you can turn to me in confidence. Give me a call today and let me know what I can do to be of service to you!

Janna Rankin Scharf AB, GRI, CSP, CNS, CLHMS 208.651.9700

Subscribe to North Idaho Janna's Coeur d'Alene Idaho Real Estate Blog by Email

Doug Patterson ABR®

Park Place Real Estate, Broker-In-Charge

SFR HUD Certified Broker

Sellers – What To Do With a Low-Ball Offer

Mon, 01 Aug 2011 22:16:24 -0400

Thanks to Karen Crowson ABR, for this timely and inciteful blog post! I want to share it with every buyer and seller. in the Triad.

Via Karen Crowson, ABR, SRES, Livermore, CA (Alain Pinel Realtors, Livermore, CA):

Sellers – What To Do With a Low-Ball Offer

It’s difficult, but try your best not to be insulted by the offer.

I know it’s hard!! But buyers listen to so many ‘experts’. Economists. Friends and neighbors. National or state news reports that may be far different from your local market. Sometimes it’s wishful thinking on their part, hoping they’ll find someone who is at the point of desperation. Sometimes it’s trial and error. And occasionally, it may be that they are lacking buyer’s comps for the property they’re considering and don’t really understand the value of the homes in your neighborhood.

First communicate....... Mr. & Mrs. Buyer, Thank you for your offer.

Then you ultimately have three options:

Reject It.

Accept It.

Or, Counter It.

Let’s talk about what potentially happens when you choose one of these options.

Accept It. This isn’t usually the favored option if the offer is truly a low-ball offer. However, a short-selling homeowner may consider this if they’re painfully close to a trustee sale, hoping to halt the proceedings. Whether or not the offered price will fly will now be a matter for the short-selling bank to determine.

Reject It. This sends a pretty strong message. There is nothing about this offer that you like. The buyer may be throwing things up against the wall to see what sticks. Your response very loud and clearly tells them this one doesn’t have even a glimmer of hope of coming to a meeting of the minds, at least from your point of view. If the buyer is a bottom fisher, they’ll learn pretty quickly that yours won’t be a contender. If however, they have a sincere interest in your home, they’ll learn two things 1) If they’re attached to this home but can’t afford the price tag, no matter what the market value, they’ll need to move on. 2) if they’re able to qualify for the list price, but don’t want to pay it, they’ll understand that the two of you are too far apart to make any headway. BUT, many a low-ball buyer offer has come back to the table with a better offer once this hard line has been drawn in the sand.

Counter It. If you can bring the buyer up some, and you’re open to coming down as well, the two of you may find an acceptable point of agreement. If you’ve been on the market for awhile and have had no offers, it’s prudent to at least consider a counter. After all – if you don’t reach a mutually acceptable price and terms, then you’re no worse off than before.

Tri Valley real estate for buyers and sellers. Search for homes in Livermore, Pleasanton, and Dublin.

I can also help you in the surrounding areas of Alameda County and Contra Costa County

including Castro Valley, San Leandro, San Lorenzo, San Ramon, Danville, Brentwood and Mountain House

Doug Patterson ABR®

Park Place Real Estate, Broker-In-Charge

SFR HUD Certified Broker

Newlyweds say “I DO” to FHA Bridal Registry Gift Funds

Wed, 29 Jun 2011 12:59:55 -0400

WOW! What a wonderful idea. FHA has a Bridal Registry Program so that friends and family can contribute money to newlyweds and it can be used as a down payment on a mortgage loan! Thanks to Rebekah Radice, Mortgage Loan Originator in Colorado. It is a "NATIONWIDE PROGRAM" TOO!

Via Rebekah Radice Colorado Springs FHA Loan 203k, VA Mortgage, Loan Pre-Approval (Benchmark Mortgage, Colorado Springs FHA, VA, Pre-Approval):

Are you planning to get married and buy a home in Colorado, but wonder where your down payment funds will come from?

FHA has a Bridal Registry program where the money you receive as a wedding present can be used towards your down payment. Just like registering at a specialty or department store, the FHA Bridal Registry program allows you to register with a lender. Then your friends and family are able to make gift payments into an interest bearing account on your behalf.

It's a win win! Not only can your gifts earn interest, but they can be used as a down payment towards an FHA Loan.

Bridal Registry Guidelines

Bridal Registry Accounts were originally introduced in 1996, but still remain a little known fact when it comes to down payment assistance. The misunderstanding of how this program works might be the fact that it was originally only allowed by banks. Soon after, FHA modified the program and offered new flexible options and the opportunity for the newlywed to set up the account at any bank. Plus, newlyweds are now able to make deposits on their own from the gifts they receive.

Here's how it works in 3 simple steps:

You will open a savings account at your bank prior to the wedding

Friends and family will be given the banking information where the gifts will be deposited

All of the gift funds can go towards the FHA required 3.5% down payment

Anyone with an interest in the purchase cannot be party to the gift funds (i.e. realtor)

There is no requirement that you be married prior to closing on your new home

Another huge advantage is that there are no gift letters or other documentation required other than proof of your savings account named "bridal registry account." It's that simple!

AGENTS: Marketing Ideas to Spread the Word in Your State

Explain it on your website

Blog about it

Let your “to-be-married couples” know about it

Send an email to past clients

Attend wedding fairs & distribute brochures

Mention it at your homebuyer seminars

The great news about this program is it is available Nationwide!

To learn more: Check out our FREE Top 20 Homebuyer Secrets that can save you thousands of dollars! Plus browse our Home Buying Resources section and fill-out a free no-obligation secure online application or call us in Colorado Springs, Colorado at 719.387.1368 with any questions.

Bad credit or No credit? Check out our Credit Repair Program and get started on the path to homeownership today!

Overcome loan application stage fright by reading my Simple Steps to a Complete FHA Loan Application

Newlyweds say "I DO" to FHA Bridal Registry Gift Funds was written by Rebekah Radice.

Rebekah's Mortgage Grapevine (unashamed plug) provides insight, education and musings on anything from mortgage lending and real estate, to social media, marketing and all things relevant to your everday success! If you want to learn lots of cool things, have your thoughts provoked, AND be entertained, be sure to hit the SUBSCRIBE button to the right!

Want to know more about me? Just Google Me!

Rebekah Radice | Mortgage Loan Originator

T: 719.387.1368 | Email: rebekah@rebekahradice.com | Website: http://rebekahradice.com |CO & NMLS Licensee: LMB100010938 & 288596 | Benchmark Mortgage dba Ark-La-Tek Financial Services, LLC | 12 E. Kiowa |Colorado Springs, CO 80903

FREE Marketing, Sales & Success Strategies for Colorado Real Estate Agents:

Find Me Online!

Recent Articles from Rebekah's Blog

6 Ways to Drive Traffic to Your Website or Blog

How to Use LinkedIn to Generate Real Estate Business

What Happened to My Loan Approval

Top 5 Reasons You Should Blog on Active Rain

Doug Patterson ABR®

Park Place Real Estate, Broker-In-Charge

SFR HUD Certified Broker