Do You Know the Ten Elements Realtors Constantly Do to Keep Their Clients Reassured?

Seeing the current state in which the real estate market is currently in, realtors need to do all they can to maintain their buyers and sellers confidence levels. If you're unable to maintain a level of confidence in your buyers and sellers, you'll not only be abandoned by them, but you risk getting a poor reputation with their family and friends. In understanding this, here are ten options you have to establish and maintain satisfaction in your buyers and sellers:

1.) Open up: Aside from just discussing business, add a personal touch to things to help your clientele feel calmer and at ease around you.

2.) Speak the truth: While you are interested in keeping things as encouraging as possible, never be afraid to be truthful with your clients. Clients see honestly as a characteristic in a respectable realtor.

3.) Express yourself: Nothing frustrates buyers and sellers more than having to work with a real estate agent that seems like they have better things to do. Having enthusiasm makes buyers and sellers feel appreciated and that you enjoy your job.

4.) Be a giver: One thing that will make clients feel appreciated and confident is if you can offer them some kind of bonus. Examples would be like getting them exclusive discounts from furniture stores or painters.

5.) Keep yourself in the loop: Devote some time every day to find out about what is happening in the real estate news and any alterations in your local market.

6.) Stay in touch: Preserve a level of communication with your buyers and sellers and keep them informed on new homes that fulfill their criteria. This will tell them that you are making their interests a top priority.

7.) Use different mediums: Change things up by contacting your clientele in multiple ways (i.e. phone, email, direct mail, etc). This change will usually be refreshing to your clients and thus gives you their complete attention.

8.) Follow up promptly: If a seller or buyer asks you about something, make it a top priority to get back to them as fast as possible. This will make your clients feel important.

9.) Be obtainable: Provide as many different contacting methods as possible. By doing this, sellers and buyers can contact you in a way that they prefer.

10.) Use change as an advantage: There's no question that the real estate market will change. Instead of shying away from the future, tell your clients that you are willing to try new mediums.

By Josh G.

Josh helps realtors better themselves by showing them realtor news and assets like EstateAnalytics.com. Email him at josh@synadigm.com for help.

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Real Estate Agents - Useful But Beware

Are you thinking about purchasing real estate? Surely purchasing a house can be an exciting time especially if you're a first time homebuyer but there is also a lot of work involved. There are many services and tools available to help you in your search. Using the assistance of a real estate agent can be very beneficial and an agent may help you find the home of your dreams. There are some things to be aware of before you put your home hunting in the hands of a professional.

Real estate agents are professionals but keep in mind that they are basically salespeople out to make money. They are offering a service and no matter how friendly and personable they are, their job is to sell you a property so they can make a commission. While most are not blatant liars, many will try to downplay negatives and stress positives about a property. They will convince you that you need an agent which is not necessarily the case.

A real estate agent may not explain all of the problems with a property such as pest control problems. Other things they may not be straightforward with are other unseen repairs such as plumbing and electrical problems. You are ultimately responsible to find the problems and then decide how to handle them in the negotiation of the sale. An agent can help advise you but remember that they are eager for a sale so some may tell you a repair is not necessary.

A real estate agent will give you a list of inspectors to use but since they work with the agent they may be eager to let things slide in hopes of future business. It is safer to find a reliable and reputable inspector on your own.

Since real estate agents are out to make money most will not advise you of properties that they will not receive a commission on. A property might be just right for you but they will keep close lipped about a property since they don't want to lose your business. For this reason you shouldn't leave your search entirely in the hands of an agent. Do some searching yourself. Not only will you find potential homes but you can check to see if your agent is looking at all possible properties or they are only looking at ones that will benefit them. You are paying for their services so you have the right to question their work.

Remember that you don't have to use a real estate agent no matter how agents will try to convince you of the contrary. Also remember that real estate agents provide a professional service that can be useful in buying real estate. Only a small percentage are dishonest but beware and find an agent who is reputable.

By Eric J. Slarkowski

The essayist Eric Slarkowski is especially passionate about things associated to cost Calida. You might find out more about his writings on property for sale in Costa Calida, Spain at http://www.alicante-spain.com

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The Real Estate Outlook For 2009

To say that real estate took a beating in 2008 is a kin to saying a great white shark has some interesting teeth - it is a minor understatement. For many people, the question is whether 2009 will be any better for the real estate market?

If you lined up all the gurus in the world, you would have a line and not much more. In the world of real estate, the relevant gurus are predicting everything from a continued down turn in housing to an absolute turn around come the first quarter...no, second quarter...no, third quarter...well, you get the idea. Every guru has a different opinion, which means one will eventually be right and the others will have to ignore the fact they gave the wrong advice! In short, don't believe them.

So, what can we realistically expect in the real estate market in 2009? Nobody really knows, but there are two potential scenarios that seem the most likely. The first is not so good - the market continues to correct after the real estate bubble. The second predicts a bit rosier outlook in which the market turns around near the end of 2009. Let's take a closer look.

The "El Doom and Gloom" prediction is, unfortunately, supported by a number of basic truths. The first is it is not going to be easier to borrow money. At best, the banks are going back to closely scrutinizing borrowers. At worst, they will only give loans to the best of the best. Either way, this cuts down on the borrowing populace and, in turn, the number of buyers active in the market. Fewer buyers means less demand, which means prices continue to drop.

The second problem arises when we look at the current mortgage portfolios on the market. Everyone knows the nightmares spawned by the subprime and no doc loan failures. Well, guess what. There are a bevy of loans coming due in 2009 and 2010 that have to be refinanced or homeowners will be unable to pay them. This partial ARM loans are the monster in the closet nobody really wants to talk about. If a large percentage of them go into default in mass, it is going to be just as ugly as the subprime mess and would mean that 2011 would probably be the first time we would see the housing market recover in mass.

The second common prediction that 2009 will be the beginning of the turn around is rooted a bit in fact and a bit in politics. The fact element has to do with the Federal Reserve. The Fed, led by Chairman Bernanke, has gone all out fighting the current market problems. The recent lowering of the short term borrowing rate to essentially zero percent is a sign of a Fed that is ready to do whatever it takes. We can count on that attitude continuing into 2009.

Politics is the second element of the positive outlook. We have a pro-government President coming in with a Democratic Congress. Whatever your politics, this portends action by the government. Look for "New Deal" types of proposals to bolster the housing and banking industry. This is a President who clearly intends to hit the ground running, so you can expect action that will help in the short term. Whether it is good for us in the long term is, of course, another question. The overall debt of the country is huge, but it is generally agreed that action must be taken now to overcome the current crisis.

So, what do I believe 2009 will actually end up looking like for real estate? Unfortunately, I think it is going to be rough. That being said, I do believe certain parts of the country will see their markets stabilize a bit. Then again, my prediction is hardly any more accurate at this moment than any other real estate guru! Check back in a year to see who was right!

By Stephan Teak

Stephen Teak is with CommercialLoanStop.com - your resource for commercial hard money loans for creative projects.

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What If I Owe More Than My Home is Worth?

If you owe more than your house is worth, you might say "upside down" or "under water." And you are not alone. Before you resolve yourself to foreclosure and walk away from your home, consider some of the following options.

Loan Workout/Loan Modification/Loan Rework--Banks are becoming more willing to do loan workouts, also called loan modification or loan reworks. Banks are not in business to sell homes. They would much prefer that the homeowner stay in the home and pay their mortgage. Even if you have received a foreclosure notice, there still may be time to save your home and your credit. Below are the different options for reworking your loan:

1. Loan Reduction. This is simply a process by which the lender reduces the amount you owe on your home. If you can show proof that homes like yours in your area have recently sold for less than what you owe on your home, the lender may agree to lower your loan amount. Lower loan amount equals lower the monthly payments. To get started, call your lender and ask for the loss mitigation department.

2. Extension. This loan modification (also handled by your lender's loss mitigation department) extends the term of your loan. Your payments are lowered and spread out over a longer period of time.

3. Interest Rate Reduction. This option is especially favorable if you have an adjustable rate mortgage that has risen so high that your payment is no longer affordable. Often, the bank would rather reduce the interest rate than foreclose.

NOTE: DO NOT, at any point, stop communicating with your lender. This makes them more likely to move forward with foreclosure proceedings.

Forbearance
If you are a couple of payments behind, but are expecting a lump sum of money (yearly bonus, insurance payout, or tax refund) that will catch you up, consider requesting a forbearance. The lender agrees to allow you to temporarily stop making payments. But you must bring the payments up to date by a specified date and start making your payments at that time. Resuming the payments is called reinstatement.

Repayment Plan

This is a plan that your lender agrees to, where you make your monthly payments and add on a little extra. The extra amount will be applied to your overdue balance.

Rent/Lease Your Home

If you have no hope of being able to pay your mortgage, you may be able to rent out your home. There are a lot of people who are looking for a home to rent. If the house will not rent for enough to cover your payment, it will probably be worth making up the difference yourself. You can find a cheap place to rent in the meantime. These are hard times, and it won't be forever. Once housing sales recover, sell the house then. You may even make a little money on it.

Short Sale
If you've been devastated financially, you may not be able to pay for your home at all. A short sale may be the best way to avoid foreclosure. In a short sale, the house is put on the market at a price that is less than you owe. Sometimes the bank will accept the reduced amount. Other times, they will expect you to pay part of, or all of the difference. They will work out a payment plan for you to pay them the shortage.

Loan Assumption

If you have a reasonable interest rate and loan amount, you may be able to sell your home to a buyer that can assume your loan-that means they take over the payments for you. Work closely with your lender on loan assumptions. Scammers have tricked some into thinking their loans are being assumed. In the end, the sellers gave up their homes but still owed the mortgage.

Deed in-lieu-of mortgage

A deed in-lieu-of mortgage is one step above foreclosure. This is a process by which you voluntarily surrender the home to the lender. A deed-in-lieu-of mortgage is less damaging to your credit than a foreclosure.

A foreclosure on your record says that you breeched a legal contract on life's most important financial obligation. It further says that you breeched it in a way that forced the bank to sue you. It gives the impression that you are not honest.

Foreclosures follow people for years, even for the rest of their lives. Once you lose your home, you will need to live somewhere. When you apply to rent property, the landlord will probably check your credit. Did you know that employers often check credit before hiring or promoting? Knowing that a foreclosure on your credit makes you look dishonest, do you want that on your record?

Foreclosure should be avoided at all costs.

By Lyn Collier

Learn from Lyn Collier's years of Real Estate experience.

Read simple, to-the-point articles about avoiding costly mistakes and what to do if you owe more than your home is worth at http://www.e-home-mortgage-loans.com/index.html

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The Legal and Financial Instruments in a Real Estate Market

In beginning our discussion of the various legal instruments used in assembling funds for the purchase of rights in land and improvements in a real estate market, it will be well to note that, in the case of a fee, the estate purchased is in this perpetuity. This affects the price, which is customarily paid in advance for the perpetual term, and contrasts sharply with transactions involving short-term estates, such as apartment or office leases. It is also the reason why most real estate financing problems arise out of transactions in real estate market involving fees.

It is also the reason why most real estate financing problems arise out of transactions in aestate market involving fees.

The difficulties accompanying payment in advance are multiplied by the infinite term of the rights conveyed and by the fact that funds for advance payment cannot be accumulated from accruing benefits.

If the purchaser of a fee cannot provide the price from his own resources, he has to borrow and pledge the rights he acquires as security for the debt assumed.

Thus, in effect, he is enabled to place himself in a position comparable to that of the tenant on a short-term lease, at least so far as paying for his rights out of funds accruing during their terms is concerned in a Real Estate market.

Similarly the chances of fluctuations of major size in the price of the services rendered by land and improvements increase with the length of the term of an agreement. The result is that, when funds are borrowed, the lender will ordinarily require some form of security to guarantee future payments in the market.

The methods, instruments, and practices used in acquiring title to land and improvements are simplest when all of the purchase price can be provided at the time of transfer in cash or its equivalent from the purchaser's resources, that is, with equity funds.

In a similar approach, whilst the buyer's finance resources in a real estate market are inadequate or in a manner that he believes it not suggested concentrating. The expression "cash or its equivalent" is used to indicate all forms of wealth that the seller is willing to accept as a part of the deliberation. On the whole, transfers are processed in which little or no real cash or liquid securities are in use.

By Lisa M Cooper

Lisa Cooper is an expert realtor and deals in Laguna Niguel Real Estate, Dana Point Real Estate, San Juan Capistrano Real Estate, and Orange County Real Estate.

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Foreclosure Alert - Is the LEARN the Way to EARN Method Successful - Review of One of NRU's Courses

Few colleges offer an educational class that is designed for both the novice and the seasoned investor. Nouveau Riche offers many courses to help develop the real estate investing community.

Through this education NRU students are able to assist homeowners who may find themselves in a difficult situation such as foreclosure. By the time they have reached out for help it's too late. Real estate owned or REO is a class of property owned by a bank, after an unsuccessful sale at a foreclosure auction. This is common because most of the properties up for sale at these auctions are worth less than the total amount owed to the bank. Most foreclosure auctions have starting bids that equal the outstanding loan amount, the accrued interest and any costs associated with the foreclosure sale including attorneys' fees.

After an unsuccessful auction, a bank will try to sell the property on its own by removing the liens and other expenses on the home and try to resell it to the public, either through future auctions or direct marketing through a Realtor. Generally speaking, bank REO properties are in poor shape in terms of repairs and maintenance; however, real estate investors will often go after these properties as banks are not in the business of owning homes and so, in some cases, the low price can more than compensate for the condition of the property.

The level 200 course offered by NRU provides a practical how-to guide of acquiring foreclosed properties through two methods: auction and bank REOs. The class emphasis is on demystifying the common misconceptions about purchasing properties through either of these methods. Students receive an overview of the foreclosure process and gain an understanding of the preparations required prior to bidding at auction. How to become a strong participant in the auction process as well as how to find and approach banks to acquire REOs will be covered.

Education only makes a stronger.

By Paul Resurreccion

Paul Resurreccion is a life-long learner and student of online education.

To learn more about online educational opportunities designed at building wealth check out my website:

http://www.thenewrichdad.com

Thanks!

Paul Resurreccion - Managing Director, Resorxn Enterprises

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The Political Source Against the Economic Source in a Real Estate Market

In order to understand the legal and economic implications of the classical liberal view of the individual in the Laguna Niguel community, and the California state, one must understand the two principal ways in which scarce social resources are allocated.

According to classical liberal theory, the allocation of scarce resources in a society can occur either by economic or by political means. In either case, the primary objective is to allocate limited supplies of resources to competing users.

This article addresses the two methods of resource allocation, and the purpose of the discussion is not to reiterate prior debates concerning public choice theory, but to make some distinct observations about the ideological significance of choosing one form of resource allocation over the other in Laguna Niguel.

Although a society is unlikely to be absolute in its form of resource allocation, it is significant when one form predominates over the other, or when an evolutionary process that seems to be transforming the relative positions of the two alternative approaches is at work. Laguna Niguel Real Estate market today is undergoing an important transition from the use of the economic to the political means; a transition that shifts the framework of legal and economic thinking from a focus on individualist values to a focus on communitarian values.

For these reasons it is important to describe and explore the meaning and con-
sequences of both approaches to resource allocation in the Laguna Market.

The economic means for accomplishing the allocation of scarce social resources are based on the operation of a marketplace of exchange. Although the Laguna marketplace of exchange can be a barter system, it typically is understood as a market in which price and currency act as the medium of exchange in order to facilitate transactions between numerous strangers. At the same instant it also offers a wide variety of goods and services in exchange for an equally wide audience. It makes the Laguna Niguel marketplace perfect and ideal for investment.

By Lisa M Cooper

Lisa Cooper is an expert realtor and deals in Laguna Niguel Real Estate, Dana Point Real Estate, San Juan Capistrano Real Estate, and Orange County Real Estate.

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The Importance of a Home Inspection

First off, for all of those whom do not know, a Home Inspection is where a person or persons hire a Professional Inspector to inspect a property in which they have interest in no matter if they are on the buying side or selling side of the transaction. The majority of the times Home Inspections are ordered by the Buyers of a property but over the last couple of years Sellers have been getting inspections to help market their property for a quick sale.

Buying a home is a decision which is probably the most expensive decision most people will make in their lifetime. Unless one is familiar with all of the different phases of what is involved in the entire construction process, that decision to buy a home could be a very costly mistake. We are talking thousands of dollars or even hundreds of thousands of dollars just because the home was bought on emotion. That is why the Home Inspection is so very important.

Lets briefly run through the entire real estate transaction of a young couple buying their first home and they don't get their new home inspected.

Young Couple meets Real Estate Agent and tells the agent the size and type of property they would like to purchase. They go out looking over the next couple of weekends and they look at a dozen properties and then they see the one, the home of their dreams. They can't wait to get back to the Agents office so they can write up an offer and get things moving. They get to the negotiation part of deal and they are overwhelmed because the sellers have trimmed $5000 from the original asking price. The young couple thinks they are getting the house of their dreams at a great price and accept the seller's final asking price. In most cases their completed contract starts a 10 day inspection period (although that is negotiable); however the couple has looked at the house and didn't see any problems of any kind so they decided to not pay the $250 for a Home Inspection although the Real Estate Agent explained to young couple of the importance and value of an Inspection. The Agent got them to sign a waiver on the Buyers Inspection Sellers Response and life was good for the young couple.

They moved in and after a couple of weeks they discovered a water stain on the living room ceiling. They run to the window and looked out and it was a beautiful sunny afternoon and their first thoughts were it was raining. The couple had no idea what to do so they started looking for and calling plumbers from the internet and yellow pages only to find out because it was a holiday they were hard to locate all the while the stain continued to grow and the drywall began to bulge. They located a plumber and summoned them on their way but he was a couple of hours away. The drywall ceiling continued to bulge until it just could not hold any more water. At last it burst and water fell from the ceiling, along with drywall and insulation, down into the living room onto their brand new LCD TV and caused several thousand dollars in water damage by the time the plumber got there to shut the water off. The poor couple was now faced with thousands of dollars in repairs because they did not know a few things that a Home Inspection would have found.
If the couple would have spent $250 on a Home Inspection they would have known a few things that could have saved them the thousands of dollars they now face with repairs and damages.
The first thing they would have known, is where the main shutoff valve was for the water so they could have limited their repair cost to the leak repair and the ceiling drywall repair which would have probably been a couple of hundred dollars.

The next and probably the most important part thing they would have know if they had an inspection, would have been that the house was plumbed with Polybutylene piping which is known for its many problems and there were thousands of lawsuits from homes that had the piping installed. There were rebates offered and assistance was given for people to re-pipe their homes because this piping had so many problems. The Home Inspector would have most likely caught that and informed the young couple of the piping and would have probably recommended that it be re-piped and they could have made a more informed decision on purchasing the house. If they still wanted the house, they could have renegotiated the price with the seller to have the re-piping done.

Now their $5000 off of the list price which the seller dropped during their negotiations is not looking so good because now they have the cost of the re-piping and repairs which far outweighs that.

That is just a small example of what would have been found in the Plumbing phase of the inspection and a full Home Inspection covers all phases of the construction process such as Electrical, Heating and Air Conditioning, Structural, Foundation, Roofing, Attic, Fireplaces, and so much more.

Please don't let this happen to you if you are buying a home, or to someone you know, and Real Estate Agents, please print this article out and let your clients read it if they are thinking of foregoing an Inspection.

Have your Home Inspection done by a Certified Home Inspector in your State.

By Ricky Wells

Ricky Wells is a Certified Home Inspector in Arizona. He owns and operates Premier Dream Home Inspections in Mesa Arizona. He has been inspecting homes since 2004 after years of experience in the many areas of construction such as Construction, Electrical, Plumbing, and Heating and Air Conditioning.He specializes in Maricopa and Pinal County. Please visit his website at http://www.pdhiinspections.com or you may email him at rwells63@pdhiinspections.com.

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