Katie McCartney Real Estate Blog

3 Lessons from the $8,000 Tax Credit ...

Wed, 01 Sep 2010 00:00:00 GMT

Nothing lasts forever. Although the first half of 2010 saw home sales increase up to 39 percent over 2009, July saw a decrease of 28.6 percent in sales. Ouch. The frenzy due to the $8,000 tax credit really got the public in a buying mood; but, now we are dealing with a void that this economic push has created with no government tax incentive in its place to drive more buying.
There are still benefits with historically low interest rates. The pace of a sales recovery could pick up quickly, provided the economy consistently adds jobs. The economy needs to continually become stronger in order to create the security that is needed to bring back the housing market.
Homes have intrinsic value. The buyers that I have been privileged to work with are placing more emphasis on what is right for them and their situation in this moment in time. There has been a Renaissance in the concept of a home. The view of a home has changed from a possible cash cow to one of residence and permanence. Buyers have been more conscientious about what they can reasonably afford and have been following through with larger down payments.

Home buying is about what you need and what you desire for you and your family. Each area and home is different and fit different personalities. Knowing the best fit and helping the clients guide through the discovery process is the real job of a Real Estate Consultant.

Get Real: Gimmicks are NOT Selling Homes.

Mon, 23 Aug 2010 00:00:00 GMT

Home selling has changed drastically. [B]uyers today have access to more information about the market than ever before, so competitive pricing is the best way to attract attention, writes RIS Media with their article Real Estate Incentives Out of Style Among Price-Focused Shoppers. Competitive pricing is pricing the home to sell utilizing average sale data to help determine a competitive price along with the competition that is out in the area versus to throw out a price with an incentive attached to hope that the buyer will bite.

The home buyers that have been my clients; I have not seen incentives such as TVs, Furniture, Services etc. be a deciding factor to why they buy a home. It has been all about if the price of the home is in the range that they can afford or are willing to afford on their budget and how the space feels as they walk through. If there is a seller incentive, it is a more of a bonus over a deciding factor.

What sells a home is the intrinsic feel when a buyer goes through a home that captures their heart and the mind. I can tell when a buyer truly loves a house - they start talking about envisioning themselves living in the area while walking through the home and they start explaining where they will put there things.

Having great photos, great video, accurate information on the Multiple Listing System, and priced right will draw the people into your property. Then through attracting the right people will find someone that will fall in love with your home for the right reasons. Leave the gimmicks to the cereal boxes.

Picture from X-entertainment.

Second Floor Laundry - Problematic or Aaaaamazing?

Mon, 16 Aug 2010 00:00:00 GMT

According to National Association of Home Builders surveys:

37 percent of new-home buyers prefer a laundry location near the bedrooms
20 percent prefer a spot near the kitchen
17 percent still like the old fashioned choice, the basement
12 percent prefer to keep their washer and dryer in the garage

Problematic ...
If you are converting or building an upstairs area for a second floor laundry room be aware that these machines have a noise factors. Minimize vibrations by leveling your washer and dryer, which should help in keeping the noise level down.

There are structures and framing issues that you need to consider and work out with an engineer to determine if the home can handle the move. Architects are quite helpful too in the space planning issues and the necessary mechanical changes that are needed to accomplish this project.

If you are concerned about leaks there are many ways to prevent a major disaster like:

drip pans,
floor drain and
electronic shutoff valves.

Aaaamazing ...
No more lugging laundry up and down the stairs and the place for clothing and linens are stored is just down the hallway. If you can work out the engineering to do it in your home, you will have an amazing new area to sort, fold, and do the most continuous of tasks - laundry!

Do your research, and do it properly, and this area can be a time-saving and efficient change to your home and an excellent future selling point!

A Clever and Cozy Design ... Katies Pick at the Columbus BIA Parade of Homes

Mon, 09 Aug 2010 00:00:00 GMT

I really enjoyed the Columbus BIA Parade of Homes this year at Ackerly Park in New Albany. All the homes were fabulous show pieces; but, one stood out in my opinion from the crowd. It was the home built by Kevin Zeppernick at Zeppernick Custom Homes, Inc.

The home had a warm and cozy feeling even though it was a 4,400 square foot home. My favorite feature was the zig zag corridor that leads you to each of the bedrooms. This special corridor gave a sense of privacy and intimacy in this spacious home.

I also enjoyed the full laundry room on the second floor. The practicality of this laundry room just added to the uniqueness of this home. I could actually see myself doing laundry in this room.

The Master Bedroom had this neat sitting area that had a 2-way gas fireplace that took you into the Master Bathroom.

The Master Bathroom was in itself a masterpiece with the sink area overlooking a private balcony, which gave the best bathroom decoration by far.

The Great Room definitely gave me the feel of homey and coziness where you knew the family was going to gather and have great fun in this room.

I loved the kitchen; but, in my opinion could have been a bit larger with a connection to the Formal Dining area to be a bit less formal and the Pub Room was just an awesome touch!

The Library and Study just rounded out the air of relaxation and comfort to this home.

I hope to see Zeppernick Custom Homes, Inc. in the future BIA and I applaud the owners home for this years submission in the BIA Parade of Homes.

Real Estate at a Glance

Fri, 30 Jul 2010 00:00:00 GMT

The national home sales outlook was a bit slow in June, but up from a year ago even though single-family home starts have not picked up. Predictions are that foreclosures will drop, but shadow inventory remains a concern with potentially more homes to flood the market, which will not help the stabilztion of the real estate market.

Although the market hasnt picked up yet from a national viewpoint, a local look reveals a silver lining from the Columbus Board of Realtors who is reporting improved sales and strong inventory. Days on market declined by 12% and home prices rose 5 percent from last month. The variety of homes available is a plus coupled with low interest rates that keep buyers looking and sellers on the market.

I believe that this is a precarious perch we are on if the housing market stalls again when the tax credit closings finally shake out in September, 2010. At that time, I would not be surprised if there was more federal intervention to get the housing market pumped up again. In the meantime, I am seeing a great opportunity for those who have the credit scores and the available cash to come in a swoop in on great housing opportunities around the Columbus, Ohio area.

Picture from iStockPhoto.com.

Boundaries For Connecting on Facebook with Friends and Clients

Fri, 23 Jul 2010 00:00:00 GMT

As a real estate consultant, my clients become friends and friends have become clients - and both my Facebook businss page and personal profile have allowed me to maintain these friendships and keep in touch. However, before I post, I have had to stop and consider the delicate balance of staying both friendly and professional with the many people I am connected with on Facebook - friends, family, business partners, collaborators and clients.

Where is the dividing line between friends and clients? Is there a dividing line at all? And once I answer this question, how do I post comments? This is a key question to ask yourself, so you know how to talk to your audiences. Here are a few thoughts and recommendations for other business owners and consultants who are using Facebook to stay connected:

Stop, pause and think: Is this interesting or relevant? Before you post consider if you would be okay with having your post appear in your local newspaper with your name attached. Avoid controversial topics and post material that is interesting and informative for a majority of your audience (of course, you cant please everybody).

When In doubt, do not post. Yes, Facebook is suppose to be fun and social. However, there is fun and then there is crossing the line. You do not want to loose your clients because of something you wrote, took a picture of, videoed, posted or uploaded on Facebook. Avoid information that could be misconstrued or reflect poorly on your reputation as a professional. Check out these seven Facebook status updates you should never post.

Take advantage of Facebook Friend Lists. Group Facebook friends into list that make sense to you. Facebook allows you to create lists such as friends, business partners, clients, and then you can manage what you say to those lists. For example, if you only want your family to know that you are going to be on vacation and be able to view pictures, create a list specifically that says family and set your privacy settings so only they can see your vacation album.

One con about the Friend List feature of Facebook is in order to only have your family list see your photos, you have to select all of the other lists to "hide this from". This is a lot of clicking to show one specific group of people what you want to share. However, for someone who keeps in touch with clients on Facebook - lists, privacy settings and strategic posting has allowed me to stay connected as a friend, family member and business professional with all my Facebook contacts.

New Consumer Watch Dog

Fri, 16 Jul 2010 00:00:00 GMT

Looks like there will be an agency focused on regulating financial products called Consumer Financial Protection Bureau created by the government reported by Anne Kates Smith Kiplinger's Personal Finance 6 Ways Financial Reform Will Change Your Personal Finances. It will be good to see someone take an active role in looking out for the consumer and to make sure the mortgage industry is doing their jobs.

But...

Where is the responsibility to teach and educate people about their finances? How to budget, build credit, utilize a credit card, utilization of a mortgage etc.? Maybe an education reform is needed as a complementary addendum to this bureau. Personal finance also needs to be taught too. Having a two prong approach is never a bad idea. Raising standards and education never hurts.

Motivation

Fri, 09 Jul 2010 00:00:00 GMT

What drives you to excel? Daniel Pink's book Drive: The Surprising Truth About What Motivates Us describes how money is not the sole motivating factor for creativity, drive, production, etc. Money is only a piece to the larger puzzle. People work for other motivating factors besides money. But, what? Why? Our discussions from the Get Smart! Book Club all seemed to circle back to it all depends on the individual. Motivation is unique to everyone. There is that balance between intrinsic and extrinsic value that needs to be evaluated and understood.

It is so easy to fall into the belief that we are all motivated by money. It is simpler. Less messy. Easy to implement. Hang out the carrot and see who bites.

We all have goals, carrots so to speak that we want to meet; but, it all depends upon who we are and how we want to execute them. That is the challenge of this book to look at the individual and to see the person as a person and not a cog in a machine. The challenge is learning the complexities of humans and adopting them to our everyday life and business strategies. Understanding the core of a person takes time. Takes thought. Takes effort.

Watch this YouTube Video on a lecture that Dan Pink gave. I think it does a good job summarizing the book and the concepts behind it.

Strategic Business Planning 101

Wed, 23 Jun 2010 00:00:00 GMT

Around me I see and hear the same hum drum story about change. People looking to implement change; but, only make surface changes because they are the easier bandaid to slap on a situation. If you have a great house cosmetically; but the structure of the basement is about to give out, how much longer will this house be standing with it's great cosmetic changes? Not long.

Oh, cosmetic changes can boost office morale, bring in more buyers, and fool the fool hearty; but, real change is only when you look at the structure of what you have, knock out the supports and build it new to be solid and stable. I have never been motivated by short term solutions/gains. I have always felt that short term solutions/gains usually (not always) disregards the long term responsibility of your objectives. Plus, no one really wants to take a hard look at the "why" something is not working because, it might mean, oh my gosh, that the basement is taking on water and that good old "reliable" sump pump is not working fast enough.

Short terming should be looking at how you strategically implement solutions to gain you the long term goal. They are intermediary solutions that correspond the long term objectives of your business. When you have people coming in with short term solutions/gains without addressing the long term goals, I am always left to wonder what are we going to be left at the end of this short term short sightedness?

How viable will your business be if you do not take the time to build in the long term view?

Picture from iStockPhoto.com.

Personal Branding

Thu, 17 Jun 2010 00:00:00 GMT

What does this mean? How can we have a life with personal branding? How do we have a separate identity with personal branding? How do we handle negative press?

This was the opening Discussion Panel managed by Nate Riggs at the Ohio Growth Summit last week. Above are the questions that the audience had thrown out to the panelists to answer. To me, the answer is that it all depends. Personal Branding is all individually tailored.

To me, personal branding is more about reputation and word of mouth management. As an entrepreneur, personal branding is a fluid creature. You need to build your fan base or as Carrie Wilkerson, Barefoot Executive, describes as Filling Your Stadium. It is going out there and individually finding and working with people that you attract - who become your advocates and fans. Learning from them and reworking your business to meet their needs.

Where advertising is dying and becoming less effective, how do you go about creating loyalty and passionate fans? Learn, observe, ask questions, and be aware of whom you serve. Once you realize that you are serving people and you can hone your business by learning everything you can about those you serve, it is such a powerful and freeing moment of an entrepreneur.

Picture from iStockPhoto.com.

Leading the Way

Tue, 08 Jun 2010 00:00:00 GMT

I had the pleasure of seeing Janet Meeks , President and Chief Operating Officer at Mount Carmel Health System speak on the topic of Leading the Way last week. It was really interesting to hear about her philosophy of servant leadership and how St. Ann's was going about increasing their services in cardiology for their patients.

When you are in an industry that providing the best health care imaginable with making sure the costs are kept down is quite a challenge. Efficiency is the key in Health Care to keeping costs down with providing the best Health Care around, ask my friend Sarah Mueller at Design Logics. Here in Central Ohio where you have The Ohio State Medical Center and Riverside Hospital to compete against all three facilities (including Mount Carmel) have to carve their own niche. Especially when everyone's goal is the same - Provide the Best Health Care. St. Ann's knows that their clients want to come their for cardiology. They know that these patients prefer their hospital. Yes, we have 2 other places in Riverside and OSU Medical Center; but, they are listening to their patients - clients.

Very similar with Real Estate. When you have everyone vying for the same client and claiming they can sell your property the best or find you that very special home. It is best to carve out a niche that no one else does better. I like the philosophy of servant leadership. Servant Leadership to me means using my knowledge, my experiences, and leverage others knowledge and experiences to accomplish for you your goal. Clients that I attract; will not necessarily be attracted by another Real Estate Agent. It is the blessing and the curse of our industry. If Real Estate professionals would understand that it is not all about the numbers and it is more about cultivating clients, then I think there would be a greater understanding of the benefits and services that individual Realtors provides. There is always room to provide great service to your clients.

Picture from iStockPhoto.com.

Holding On

Thu, 27 May 2010 00:00:00 GMT

A recent conversation with a client really had me think about the principles of selling Real Estate. If a client is saying to me that they have changed their mind and that in keeping the home to make something for themselves... What force on Earth would cause ME to deny this? Why not give them respect to do what they now want to do with the property to make it their own? To me selling is such a: "I want to do this because I have a plan of an alternative life". If there is some use that the client can still gain from the property... If the property is still a piece of their soul and they just re-discovered it... Out of respect and mindfulness of the client's needs I should graciously back away. The client has to want to move on. The Client has to want something else to make a Real Estate sale work. To me, you need that commitment to let go and move on. One doubt. One inkling of I am not sure... The sale will never take place.

Real Estate can have so many personal attachments. Your dreams, hopes, family is wrapped up in this piece of land and the structures on it. Why should there be a sale when YOU are not ready?

Picture from iStockPhoto.com.

Understand Your Core

Wed, 19 May 2010 00:00:00 GMT

The other day I was at a potential client's office consulting with him when I laid a bomb on him. The property was not my core demographic. As I told him that I thought another Realtor in our office would be a better fit for his property, he interrupted me to tell me that he was shocked and surprised that I would think of his best interests.

At least the last time I checked, I am in a professional service industry. Professional services should be held to a higher standard than saying that a Billion has been served. Referrals are our business. Word of Mouth is how we survive. Why in the world would I take on a property that does not fit into the core demographic I am cultivating for my practice?

Core demographic is so key when you are defining your business big or small. If you cannot say specifically who your core demographic is, then you are missing the mark and your business will struggle. In order to shine, you need to know who you are attracting to be able to market to them.

Data is huge element on how I understand my core demographic. I can specifically pinpoint an age range, preferences, amount of schooling accomplished, and the approximate average house price potential clientele that I attract. Now, that will be refined over the years; because, hopefully my demograhic will grow and change. However, good client/customer data is key to understanding the underlying basis of who is attracted to your services/product.

Then when you are faced with a client who is a "one-off" you can say with confidence, "You know I know someone in my industry that would do well with you because you are their core demographic". How cool is that? Providing exceptional and value added service. Wow, now that will attract more people then repell and create Word of Mouth that you need for your business.

Picture from iStockPhoto.com.

Cultivating Wisdom in Life and Business

Fri, 14 May 2010 00:00:00 GMT

Starting a meditation practice this week, one of the many attributes I am meditating on is Wisdom. Wisdom is key to life and business; hence, the continued meditation on the subject. I have been wondering how to know if I'm being wise or if Wisdom has sucken in. I look around at my current interactions with people. I see that I have given them success and sometimes other alternatives to bring them success. Wisdom is the incling to me that says, this is the best for this person even though it sometimes does not mean the best for me.

But, what about you? How does cultivating Wisdom help you? I have been enjoying success lately; but, I really feel it is in most part due to my philosophy of paying forward. I continue to pay forward with my advice and my wisdom to whomever seeks it. Wisdom is "knowledge of what is true or right coupled with just judgment as to action". Sometimes Wisdom benefits me and my business; but, not all the time. Bringing success and seeing someone smile because they know what I have to say is truly in their best interest always makes the day when Wisdom does not benefit me be a little easier.

Picture from iStockPhoto.com.

Philanthropy
self interest, rightly understood

Mon, 03 May 2010 00:00:00 GMT

I attended Claire Gaudiani, Ph.D.'s speach on Women's Leadership in American Philanthropy Sponsored by The Ohio State University Foundation Women in Philanthropy and PNC Bank and was nothing but moved by her enthusiasm towards philanthropy. The take away I want to write about today is her use of the words "self interest, rightly understood".

As I have blogged about in March, my father died of Melanoma Cancer in 1992 when he was only 41. Because of his early death, my life and those who knew him has changed. Since I do not want to see anyone else suffer from this disease, I have decided to give a portion of every home sale that I do towards Melanoma Cancer Research Melanoma Fund for The Ohio State University Comprehensive Cancer Center - Arthur G. James Cancer Hospital and Richard J. Solove Research Institute to hopefully someday find a cure for Melanoma Cancer.

With United States 2009 stats of:

68,720 new cases of melanoma
8,650 deaths from melanoma

Skin cancer is the most common of all cancers. Melanoma accounts for less than 5% of skin cancer cases. But it causes most skin cancer deaths. The number of new cases of melanoma in the United States has been increasing for at least 30 years. Overall, the lifetime risk of getting melanoma is about 1 in 50 for whites, 1 in 1,000 for blacks, 1 in 200 for Hispanics.
- Cancer.org

Yes, there is a self interest for myself and my family due to the fact that we are at high risk for Melanoma Cancer. However if a portion of my money that I donate saves one other person's life through a cure, then that makes my dedication of funds and the memory of my dad, Ronald L. Jacob, all the more worthwhile.

If you are wondering what "self interest, rightly understood" is all about...
Do you have a passion? A cause? Do you have something you believe in? Then give.

Picture from iStockPhoto.com.

Thanks, Internet...
You Are Screwing with the Well Oiled Real Estate System

Tue, 27 Apr 2010 00:00:00 GMT

A recent article from Inman News, Who finds homes: agents or clients?, had me start thinking about how the next generation of Realtors and their clients will impact the face of Real Estate as it has been known to be for decades. You are looking at a wealth of information at the finger tips of not only Realtors; but, also the consumer/clients. Information that until relatively recently that was always public but the process and the means to access the information was time consuming and relatively difficult to accomplish. Then BAM the internet happened and access, well, we now feel it is our right to have this type of information at our fingertips. A generation of information hungry consumers/clients are being developed. Without warning, we have dropped ourselves into an information age.

If you are providing a "selected" handful of homes, not good enough. If you are asking your clients to narrow their search to a few areas, not good enough. If you are not analyzing in detail the comparables within a half a mile radius from the subject property and the other active properties on the market with in the radius, um, what ARE you doing? The way Real Estate has been conducted is being changed by the more information driven consumer/clients.

Sellers, whether or not you want to hear this, your competition is not the Jones' across the street; but, also other properties through out the Central Ohio region. Buyers are more mobile and want the best value they can find and sometimes that means looking in all of the best areas in Central Ohio. [Hearing the scratch of a vinyl record - yes, I do remember records...] Wait, a minute, but, you said look within a half mile radius not the whole entire Central Ohio region for comparables... Yes, you still need to be looking locally because that is the market you are dealing in; but,you have to understand the psyche of a Buyer.

Buyers are looking for the best house that fits within their budgets and as long as it is in a great area, they will always choose the better house hands down. The objective of the sellers is to provide that ideal match to the buyers. This is where the Realtor steps in... They provide the best means possible to match as many possible candidates to your property and explain the advantages of your home and neighborhood. Have I forgotten to use the word SELL? Oh, My Gosh, did I? Hum... Well, by golly, I did. Out are the days of rounding up buyers from other agents that have in stock, they should be accessing the same MLS system to be sending their clients information on available homes. Out are the days of bait and switching consumers/clients into seeing a home that lies outside their criteria (trust me that would only anger the clients that I have worked with) just to get people through to show your sellers that you are selling their home. Out are the days that the carefully and strategically placed yard sign and directionals will drive a buyer to your property.

My, oh, my how will we adjust? Look around and get your head in the game. Think like a buyer. If you were buying within the price range of your property, what would your criteria be? Look at the core demographic of your price range. Are you attracting first time home buyers? The mobilely upwards? or Are you catering to those who are trying to simplify their lives? What markets are you in? What age groups is your specific property going to appeal to? How should that property be property communicated through the data provided to those Buyers?

These items should be talked about considered and used to help assess your property. Even then, the ball comes out of left field sometimes. Use the information gathered from buyers after a view to adjust your game plan and think outside the box. Providing property for sale is a game of adjustments and rethinking strategy constantly. Bye, bye days of just sticking your property out there and hoping for the best.

If you are not thinking as the picture above suggests or a Realtor who does, time to start thinking that way...

Picture and Sound from iStockPhoto.com.

Seize the Day

Wed, 07 Apr 2010 00:00:00 GMT

The book for the month of April is The Power of Now: A Guide to Spiritual Enlightenment by Eckhart Tolle. I do not keep it a secret that I am going through a journey to re-discover my potential. I really feel that continuing to read and open my mind to new ideas only helps not only myself but my business. The Power of Now has really got me thinking about living and business. To me, living and business are very interrelated and flow into each other; yet, are also very separate entities. As when reality slaps me upside the head, I get a great big reminder that business is that business and nothing personal.

Business thrives on the same basic principles that life operates on: "To Thine Ownself Be True." - Hamlet by William Shakespeare.

My Ownself: I offer what I feel is reality whether in buying or selling. In the face of realty, we need to either work with it or move on. Some people are just not able to deal with reality when it comes to real estate. I really don't understand why the perception of real estate is so muddled. To me there are a basic concepts in real estate:
This is what the stats say the average similar property is worth...
Will the condition of the property bear the average price?
Is there potential that it is worth just a bit more?
Are you willing to wait for/pay the little bit more?

However, as I learned from The Power of Now the most simple concepts become really muddled when we do not adhere to them and listen to outside and competing forces instead of the inner voice or the stillness within.

Picture from iStockPhoto.com.

Tilling Your Land

Fri, 02 Apr 2010 00:00:00 GMT

As my husband put me to work tilling up our vegetable garden, I was thinking about how social media is only a component to open the door. Social media is not the only component to my marketing plan. I still need to get my hands dirty. Just like tilling up the ground, I need to go out and meet people. It is not merely enough to have your presence on social media. There is also the aspect of establishing rapport with whom you communicate. If you do not interact and you are just a "machine" churning out information, your message will be lost. The key to social media is to interact. Just like to create a great vegetable garden it is not enough to just plant the vegetables, the gardener has to go out in the spring and till up the soil, plant the plants, and then tend to them by pulling the weeds during the growing season. Social media is very much the same and learning how to tend to the garden that you are growing is very important. Sometimes you find out that some aspects are not working, you need to pull up the roots and re-till the area and find a new plant to plant there. It is not a perfect solution. Social Media is messy and continually growing and adapting. But if you tend to it and continue to learn from your experiences, you will see your influence grow. Sphere of influence is very important and before social media really limited to how much you could feasibly do. With social media, sphere of influence has been redefined and expanded. If you learn how to harness the unlimited possibility of social media to compound your sphere of influence, your business will grow and compound.

Picture from iStockPhoto.com.

Spring Fever

Mon, 22 Mar 2010 00:00:00 GMT

Spring Fever is bringing a call to the library for me. I am getting any and all books that I can find about container gardening. I have always wanted a Japanese inspired garden in my backyard and so, my thoughts turn constantly to water features. I want a water feature with a small pond with Koi. Knowing the impracticality that will bring for many reasons that we will not go into detail... I have opted on a pseudo-water garden. Yep, I'm going faux... with plants. I'm planning on creating a "lake" of river rock with an island that my Japanese maple will inhabit. In this "lake" I am going to place 3 water features that will "drip", "cascade", and "shoot" with plants to imitate falling water and the water feature I so deserve.

I find it a treat to improve my home and backyard. I enjoy the satisfaction I get from taking empty space and creating a little bit of paradise. I love seeing potential around me. To me, this makes a house a home.

Picture from iStockPhoto.com.

Trust the Hidden Piece to Real Estate Deals

Thu, 11 Mar 2010 00:00:00 GMT

Trust is so hard to define because it deals with our instincts. My thoughts keep going back to trust now-a-days and how it is vitally important in the Real Estate industry especially with the Real Estate conditions that we face right now. The deal does not go smoothly when you do not trust somebody in the process. Especially, if it is someone who is suppose to be in your corner. Things just plain go wrong and it takes superhuman effort and strength to keep the deal together. Without trust, people just don't have a sense of security that in the end everything will come together and pull through. I know trust is an intangible element in the equation; but, it is the most VITAL part of how the whole process works out smoothly. Something that people don't see or taste can be so vital to the finish line. It is the most frustrating component to the Real Estate deal because it is out of our control. Trust is a feeling that we push aside because we want this object (house/sale/deal) so badly that our instincts are telling us one thing but we push them aside to create the image or the desired object that we so desperately want.

Real Estate may seem simple; but, it is a heck of a lot more complicated than most people realize. Oh, just put that house for sale with our desired price and "find" a buyer... or Ah, it is so easy to just look at the current inventory and find what we want within the desired price point... There is more; so much more... Real Estate has this simplistic beauty that done right and well with trusted people in your corner and on the other side of the table goes so smoothly. But, the first hint of mis-trust and it is a fight to the finish that sometimes doesn't end up to the finish line and we all look around at each other and wonder was this worth it?

Do you trust the people that you are dealing with?

Picture from iStockPhoto.com.

Celebration of a Life

Sat, 06 Mar 2010 00:00:00 GMT

March 4, 2010 would have been my Dad's 60th Birthday; however, Melanoma Cancer claimed his life in February 1992 through metastatic disease that spread to his brain. Ronald L. Jacob was a really good man and when I return to Cincinnati, I still hear stories about him from my extended family and friends. Dad is also the inspiration to my business philosohy. So in honor of his wonderful life, I am going raise awareness of and funds to directly benefit the Melanoma Cancer Research Fund at The Ohio State University Comprehensive Cancer Center - Arthur G. James Cancer Hospital and Richard J. Solove Research Institute by donating a portion of my commissions throughout 2010 that I earn from RE/MAX Affiliates, Inc. on home sales.

We need to find a cure for Melanoma Cancer. It is a deadly disease that affects the largest organ that we have.

Be Aware.
Cover Up.
Get Checked Every Year. I do.

Online Donations can be made by going to the Melanoma Cancer Research Fund at The Ohio State University Comprehensive Cancer Center - Arthur G. James Cancer Hospital and Richard J. Solove Research Institute.

Picture from the Jacob Family Photos and Zazzle.com.

The Winds of Change

Fri, 19 Feb 2010 00:00:00 GMT

New forms are being created by the U.S. Department of Housing and Urban Development (HUD) regarding Good Faith Estimates (GFEs) and Real Estate Settlement Procedures Act (RESPA). Looks like some good things for the consumer because the government wants you to shop for your loan. Great; but, let us encourage shopping before a contract is placed on a home.

This seems to me set up to kind of wait until we are in the process because people are shopping for rates. Rates change daily, even hourly sometimes. I recommend to my clients to base their shopping decision on the loan officers and how they are treating you while you talk to them. It should be more about the comfort level that you have with the lender that they are a straight shooter. The settlement statement should really reflect what amount of money that you think you should be coming to closing. If you trust your loan officer to be a straight shooter, then you won't have the problem of bait and switch in closing costs, which these forms are to protect you against.

Mainly, do your homework. Feel comfortable with the people you are dealing with. In the long run, your instincts will determine if this deal is going to go well or slightly pear shapped.

Picture from iStockPhoto.com.

Cleaning Green

Tue, 09 Feb 2010 00:00:00 GMT

I dislike cleaning. You could say I abhor cleaning especially with commercial products. I was frustrated how I just did not feel like I was doing a good job cleaning. I could not get dirt off with commercial products and I felt I was wasting my time and energy. Being a busy mom, realtor, wife, woman, etc., I thought: "This is ridiculous being so frustrated over something that should be so simple and a part of keeping my family healthy." So, I did what I am great at doing; I did research. I hunted down web sites and rented books in search for easy cleaning products that would get the job efficiently and healthy to boot for my family.

My research found Better Basics for The Home by Annie Berthold-Bond. Boy, out of this massive book I found some simple, easy cleaning products that I can mix together in matter of minutes and have ready and waiting for me that uses in essence Vinegar and Water. Yes, Vinegar and Water are the major ingredients; but, you need to read the book to find what else there to create such powerful cleaning products.

Yes, I'm trading convenience of picking up products to making my own; but, you know I will not go back. My home especially my bathrooms and kitchen are so much cleaner. I am amazed of the power of Vinegar as a cleaning agent. Give it a try. You will be putting together ingredients that are not only non hazardous and environmentally friendly, but also save you money down the line. It won't replace actually cleaning; but, you will see progress where before there was just frustration.

Picture from StockXpert.com.

There Are Always Consequences

Tue, 26 Jan 2010 00:00:00 GMT

Whether we like it or not, there are always consequences to our actions. Whether it is going for a short sale, succumbing to a foreclosure, or trying to modify your loan there are risks along with the solutions.

RIS Media details the Loan Modification issues in Can Loan Modifications Cause Trouble Down the Road?. About.com details the Short Sale/Foreclosure windfalls in Short Sale and Foreclosure Effects on Credit.

Best thing I can advise is to weigh your options carefully and understand the consequences before you take the plunge. Ask lots of questions to who ever you are dealing with at the time. Feel comfortable that they are give you answers and not selling you on a solution. If there is any inclination that there is trouble, stop and get a second opinion. You are entitled to make a decision in how it will best fit your needs.

Picture from StockXpert.com.

Time Is Wastin'

Thu, 21 Jan 2010 00:00:00 GMT

April 30, 2010 is not all that far away. April 30, 2010 is the last day that you can have a home in contract if you are a first time or a second time homebuyer to take advantage of the $6500-$8000 tax credits. The other catch is that you need to close by June 30, 2010, which in normal cases is not impossible.

I don't know about you; but, I find the April/June deadline kind of rediculous and could be harmful to 3/4 of the year. But, only time will tell if dates will be adjusted again.

Picture from StockXpert.com.

Relationship Dynamics

Thu, 07 Jan 2010 00:00:00 GMT

As usual, the Worthington Library's Get Smart Book Discussion Group last night was entertaining, with great conversation, and well attended. Great discussions centered around the book The Five Dysfunctions of a Team: A Leadership Fable by Patrick Lencioni.

Teamwork is an art that goes to anything that we do whether it is the family unit, a client with various business partners, or a corporate environment. Our life is made up of teams and we could not function effectively without a team environment. Relationships are so crucial to learn from and adapt to to move towards an over all goal.

Many times a failure evolves out of the failure of a team to gel and to be able to connect - communicate. Relationships are key and vital to earn trust and teamwork. If you are not able to have lively discussions and be able to trust and respect each other, then the team will just end up dysfunctional and unproductive. Cultivating a climate of trust is essential to any end goal.

Picture Created by Katie McCartney. Information from The Five Dysfunctions of a Team: A Leadership Fable by Patrick Lencioni.

Be Mindful with Short Sales

Thu, 17 Dec 2009 00:00:00 GMT

I don't understand why Short Sales bring out impatience in everybody. I mean it is universal impatience. IF you don't know the universal truth about Short Sales, then here has been my experience with the Banks who are involved in a Short Sale:

Notoriously SLOW
Misleading
Lack of Communication
Make False Promises
No Internal Processes are Revealed

With this lack of communication, you need to be flexible and patient with the process. Practicing patience and mindfulness will only bring to you the abililty to get through a Short Sale transaction. There is no real reason for any corporate entity to want to own the property; but, for some reason trying to figure out WHY they are not moving as fast as you want them to move will only lead you to a deadend answer. There is no real answer to the question of "why does a Short Sale take so long?".

I don't know how many times I have faced this "taking too long" frustration from buyers, sellers, and my colleagues. It is a fact of life. It is the environment of the Short Sale deal. It is what it is. Until there are better processes in place by Banks and the departments that deal with Short Sales to better handle public expectations (a.k.a. until the banks have a reason for a better image), this is the state of the situation. Expect it. Plan for it.

Picture from StockXpert.com.

It Ain't Over Until...

Fri, 11 Dec 2009 00:00:00 GMT

You are Walking Away from the Closing Table with The Paycheck in Your Hand.

Yes, I know the phrase is "The Fat Lady Sings"; but, I find my saying a bit more applicable to what I do and a bit more socially acceptable.

I normally have used that phrase as a joke to make light of a really serious subject matter of the purchase contract; but, yesterday, that phrase became reality.

My client due to unforseen circumstances could not perform on a contract. It was pretty much an eleventh hour situation when everyone in the situation is feeling safe, comfortable, preparing to transfer the property, and CLOSE. This is a no win situation. Everyone gets hurt in this type of situation. There are varying degrees of hurt; but, everyone comes out of this with scars.

No matter how often you try to prepare clients (buyers or sellers) to the riggers of going through a contract; there are things that you cannot prepare people for until you face the situation head on. There is no way to sit down and run simulations and prep them on disaster and the ramifications.

I only hope that this blog will give prospective buyers and sellers the sense of the seriousness that entering into a contract really means. I do want to point out that there are outs in the contract and they are pointed out at the appropriate times as we are going through the process. Real Estate is a serious business and it involves many people so do not take lightly the decision to sell or buy a home. The decision to walk away is like looking at a bomb site with an epicenter and the rippling effects of the bomb radiating outward. No one within the circle of the bomb's radius is safe; but the difference are the people closest to the epicenter with the most to loose suffer the worst damage. It just not a pretty sight.

Picture from StockXpert.com.

Short Sale Angel - Part II

Tue, 08 Dec 2009 00:00:00 GMT

It has been a week since my last transaction with Rita Boswell and her company Home Solutions 4 U, LLC and this time I was on the selling side of the transaction unlike the last post when I was on the buying side.

The results? You read for yourself:
"I would like to personally thank you, your staff, and Katie for all of your help. It's comforting to know that there are people and organizations that actually want to help those who are distressed. We found you in the nick of time and you were able to fully settle our housing issue and minimize the financial impact to us. I will recommend you highly and provide testimonials for both of you."
- Dr. Michael Posey

Rita and her group bring peace of mind in a very stressful situation. Their experience and expertise in short sales brings calm and sense of direction in a situation where usually there is an abundance of stress and anxiety. Rita Boswell and her crew are still my Short Sale Angels. I hope they will be yours too.

Picture from StockXpert.com.

The Meaning of Wealth & Money

Sat, 05 Dec 2009 00:00:00 GMT

My latest book read is The Total Money Makeover by Dave Ramsey. If you read my post on Wednesday, you will know that Dave Ramsey has quickly become one of my favorite money guy TV hosts. It is the down-to-earth and matter-of-fact approach that Dave Ramsey has that attracts me to his philosophies.

I don't know about you; but, I'm personally tired of working to pay off my debts. I dream of the day that my home mortgage is no more that I officially own my home. Yep, that is a goal of mine is to have my 30 year mortgage paid off way before the 30 year mark.

Why? Because then my home becomes an asset and not a debt for payment. Owning assets are what I would term as gold standard. True assets will allow you to convert it to cash and usually hold or increase in value with the proper care. Properties have been an asset traditionally that does not loose value; however, the recent Real Estate bubble has taught us that speculation can have a negative effect.

More to the point, Dave Ramsey has become a favorite character of mine is because he has been through tough times. He has lost it all and he was really good at real estate and borrowing money to hold real estate "worth over $4 million". Yet, he lost it all because of his mismanagement of money. Poor understanding of money management and the meaning of wealth can get you into a whole heap of trouble. Learn not to speculate on the future; but, to manage the money you have right in front of you and you will be able to "Live Like No One Else". Oh, yeah, read Dave's book to find out more on how get to the point in your life that you can "Live Like No One Else".

Picture from Amazon.com.