As soon as I got to the point where I would either be making a morgage payment or buying groceries next month, I did exactly what all good Americans are taught to do, turn to my bank and refinance mortgage.
My assignment was to appraise a home that was close to the freeway. This home is one home in a small development of newer homes. The home was a 1.5 story home with square footage that was more in line with the 1 story homes in the area. Typical two story homes offered much more square footage than the subject. The development was (Planned unit development) PUD, which resulted in newer homes that are located on smaller lot sizes.
Most real estate agents believe that if they want to market for short sale listings they are going to have to do the real estate point themselves. They start feeling overwhelmed with the mere thought of having to negotiate the deals, long drawn out contract or escrow periods, and all of the ones that won’t work.
I cannot say enough about pre-qualification. If you are not getting your buyers pre-qualified you are wasting both your time and theirs. The last thing you want is a surprise after the offer is made.
It’s not as difficult as you think. It’s possible to restrict showings for a few days, so you’re not showing on Christmas Eve or during an important family get-together.
Get expired listings. If you think about it, they were motivated enough to list their house, but then it didn’t sell. Chances are, they still want to sell it, and may be upset with their agent for not selling it. The number one complaint I have heard from people about their agent is lack of communication. Even if the agent was doing a good job, the seller never knew, and assumed the worse. Start a postcard marketing campaign that talks about your high level of communication. Be sure to hand deliver your first marketing packet THE DAY THE LISTING EXPIRED. Now that is fast communication!
Finally, the day before the trustee’s sale, (auction eve) my local sherrif came by personally and let me know that it was time to go. With a Warrant in one hand and the other resting on his pistol, I didn’t argue.
This month, Austin has yet another feather in its cap – an independent company (that is not a realty company!) has confirmed what real estate agents in Austin already knew – this place is still booming!