Mike's Blog

What exactly is the listing price any more? Existing mortgage, plus cash in hand, plus commison, plus 20% down on next house....add it all up. It this sounding familiar?? My CMA software doesn't work like That!!

 I do CMA's on properties every day to attempt to establish value and cannot come up with the same listing price...We all use the same MLS....Where are these prices coming from...

I was commenting on a comment from Josine who suggested its kinda like the MSRP...Manufacturers Suggested Retail Price. Who pays sticker price???? Is this what Real Estate is now...Maybe people should just do a real CMA and take it to the sellers....Prepare a plan to sell the home with a lot of good ideas, put it in writing.....leave it with them and call them later, if the sellers don't want to comply.. then you as an agent better have another reason for keeping the house listed besides selling it.

    Hey it works for the car business...The listing price, its just a starting point. Right??

    I Know some one else that won't pay retail!>>>>---->>-->>>

After years of the sellers getting used to prices going up up up, they now have to accept the FACT that that boom was not healthy for all involved, and most of them who have owned their property for more than 5 years are still making super returns on their money.  I just got back from a closing on a vacant lot where we bid 50% of the listing price. The property has not changed hands in 22 years, so its still a huge profit over the initial cost, just much less than what someone had priced it at.

Everything is relative to perceived value. If they had received this much for that lot even 10 years ago, what a different perception we would have. In Todays climate, we countered back and for for over a month to make this deal.

The other agent, to her credit, approached me after the closing and said she will forward me a few listings that she knows are willing to take offers now. ...Kinda funny, all this time I thought she didn't like me for submitting low offers. I think we will end up buddies!

A few posts back I referenced a couple who suddenly are wanting to sell their house to be able to purchase a much smaller, easier to care for property close by. Something in their life has changed, their mindset is very focused now!!!!  In a few days,,we have gone FULL CIRCLE to the point that I see us making a deal soon. Now that it is important to them, all the roadblocks I had to getting the house saleable have Vanished.

I had a one hour meeting with them yesterday to go over a SELL YOUR HOUSE IN 30 DAYS OR LESS PLAN.  This is going to be a fun couple to work with now...Anyone wanting a custom built lake-front home on nearly 3 acres, huge pool deck, electric gate, paved access road....I will keep us posted

 There was some comments lately about who owns the posts once they are put here. I personally put my posts on my Google Groups Blog, and I know I own them over there! In one of these discussion threads, there were comments made on when do we delete posts or comments!!! I hate to think about people deleting posts, to me it would be like people burning books after they read them.

There are nearly 8,000 new members on AR since I came back and stayed over two months ago. OVER 8,000 NEW MEMBERS!!!! I read the AR newbies group and see a common comment after someone has been here a week or two. New people cannot believe the amount of factual knowledge broken down in conversational terms contained here on AR.

For newbies starving for knowledge, this is like being a kid in a candy store. I recommend AR every day, and explain it this way" to me, AR is a great collection of some of the best minds in the Real Estate business from across the country, and you get to gain valuable insight from all of them.  I remember coming to AR at the invite of Broker Bryant, and freaked out at the lessons he was freely teaching at that time. You want some good down and dirty lessons in the real world, go spend an hour reading his blogs.

Another avid poster is Lenn Harley,  she http://activerain.com/blogs/lennharley  is known for going into detail on many day to day aspect of Real Estate and has great insight for the industry as a whole. She has a super  series going now, and it involves the effects of gov regulation and the possible dismantling of the Real Estate Brokerage system as we know it. Even though I did not understand or totally agree with the whole post, she gave me an educated follow up comment on why she felt that way.

This type of post is why, if there is a chance, ever, that this great collection of knowledge could be sold or otherwise made unavailable, we should take precautions to insure access to it all in the future.

To those of you who say, NAAAAAAAhhhhhhh, just ask anyone about what happened to years of input into the now defunct Planet Realtor. It could happen again.....

 On to my reply, if this is too long, then quit reading now!!!!!

Lenn, Thank You for your kind reply. I have to follow up on one paragraph in particular:

Buying and selling a piece of real estate often takes, not only patience, but a certain degree of detachment.  We advise our buyers and sellers based on market knowledge, not emotion, not "what I want out of it".  One of the reasons the For Sale By Owner usually eventually sells is simply because "they don't know what they are doing". 

The degree of professionalism is many times viewed as coolness under fire, no thought of panicking in the face of difficulty. It could also be viewed as detachment. Our skills are in knowing what is coming, and anticipating that something is coming. The mark of a professional in this field to me exemplifies all the above adjectives and manages to keep his/her clients in focus. I personally feel like I learned more from the nearly 20 failed transactions that I had this year than the few that went smoothly before them. Had I had a solid mentoring program in place, several of these deals could have been saved, or kicked to the curb earlier.

I believe some of us here could make an entire series of posts on this topic alone. Regretfully, many of the established broker models do not provide real life in the trenches training and leave their new agents and their Customers tragically unprepared for the twists and turns of everyday Real Estate. The end result is that many qualified agents leave the business for industries that provide more stability and support. And this is where we get a public perception of Realtors not earning thier money, being unqualified....I know it's really a lack of training more than a lack of caring....How may of us were told" Just go and get started, you'll figure it out" I know I was, and know many who were given the sink or swim training school of Real Estate.

Thanks for allowing me to ramble. I appreciate your input, and have read many of your posts.....One of the concepts that many very experienced Brokers as yourself seem to forget is how deep your knowledge is, and how powerful it is when you take the time to share like this for newer agents to gain insight from. .....And comments that take the time to say more than "great post" are wonderful as well.

         Hi folks .....What do you do to sell a home now. If the customer has to leave town, is in a pickle, head is going to  explode or worse, what do you do.

Do raffles work, high commissions, current appraisal pricing,what techniques are the best for moving that home ASAP.

I just signed up for a vacation travel package that give me, or my assigns, sharply discounted motel rooms, cruises, ect. I want to start offering these to my buyers and sellers. I will offer one of these packages to the winner of my little essay contest. My wife and I work too much to use them all in the next few years, so we made a decision to give a bunch of them away as a write off.

In a nutshell, I have a short time to sell a few homes here in Leesburg, Fl. I will offer a cruise, or a vacation package that is more local to the person who I feel gives me the best ideas for what will really sell the homes. I am looking for creative, trade secret type of responses, I need to sell these homes. They are not in foreclosure, but the sellers are needing to move ASAP. We will do anything, legal, that might work.

Details will apply. I will be the sole judge, and I will absolutely give a nice vacation package from the 150 some odd packages I just bought. So please, give it your best shot. I hope this is not violating any rules or offending anyone....

I had a meeting with one of my sellers today about why their home is not selling. After the normal stuff of it's overpriced, has too many dogs, cats and worst of all,  smokers. Way too many of all of them running around to sell. It is the opposite of staged. Is there a word for unstaging. Its not dirty, its just unsellable in the present condition, in this present market. Dobermans, even friendly ones, tend to make potential buyers nervous, possibly too nervous toadmire the lake-front view from the pool deck.

They have their eye on a REO bank property that is not listed yet.  They know that I have the inside track on the home, they are suddenly very motivated to talk turkey for once.  They want it really bad. Its newer, smaller, more energy efficient. It would be nearly a thousand a month less in utilities and maintenance, Its an acre less land and NO pool to care for. Suddenly they want to low ball this property. I always like the transition from stubborn seller to chiselin buyer. When it happens you should seize the moment. Make hay while the sun shines, all that.....We have the following discussion. 

We may be able to lower the price on their big lake-front home enough to sell in this market, and still have enough left over to  cash buy the smaller place. It will be creative financing, but I will get two deals done as soon as the players get inline. I have investors that can buy the first house and tie it up, and make the improvements and sell it back to them ready to move into. 

Apparently, there has been a change in he sellers situation.The truth is the sellers are running out of time, they need to get it done now. Ahh, now we may be able to make progress.. I tell them the truth:

I am working with investors who do want to buy homes and multiplexes. We look for good properties with owner problems, and then do the math.

There is nothing that I see that says prices have stopped falling. Our inventory is 3x what it was 3 years ago. It would be higher than that except the rental inventory is thru the roof as well. Brand new homes and resales are going crazzy with rent to own and rentals.

Anyway, our formula is pretty simple. Figure what the property is worth as is, where is. Then subtract the cost of necessary repairs. Factor in carrying charges for up to 90 days to do repairs and market to closing. Then we subtract 25% and 6% commission and then we make an offer on the property. Its a bit more scientific than that sometimes, and sometimes its not even that scientific.

You can bet that we get some Realtors who forget that it is thier job to present offers. I don't argue any more, I just ask them to present the offer please, and counter with a number. Our offers are subject to inspection, and that s about it. Cash closing in 2 weeks, no contingencies.

I know many Realtors feel challenged by the offers, but we are in the business to sell property and to buy property. If someone brings me a lowball offer I use it as an opportunity to get very realistic with the seller. Its a perfect time to go over current market reports. Its a perfect time to review all the other cash offers we have had to that point. (HAH HA) And even if the seller doesn't take it, it time to throw a counter back and see what happens.

Some of our sellers are closer than you know to serious financial problems with their homes. Especially if they have two properties to maintain. I wrote a blog a while back about a lady who called me to come get my signs and lock box, the house was being auctioned in a few weeks. She would have taken a low ball offer to save her credit, something would have been better than nothing.

I welcome comments, as usual

Should I Widget...

I have been looking at so many widget sites lately and did not know what to trust. I found on AR a blog that may be safe to go to some of the links he recommends.  Thanks Brad http://activerain.com/bandersohn

Let me know how this works.. I will be trying them out, as well as The V Flyer, and Flyer Widget.

Here is the link to the blog,    http://activerain.com/blogsview/170783/Widgets-How-to-Add

And another post by Missy Caulk on Widgets: http://activerain.com/blogsview/165720/Why-I-Love-These

I have been commenting on other peoples blogs as the Beautiful Wifes Blog about reciprocity on other peoples blog posts. That would be Broker Bryants wife. I have been doing it ( making comments, that is )and in doing so I am finding some really great content here on AR. I am looking for blog post that don't have many comments,and low and behold some of these were good, and had only 1 or  2 comments. By commenting, we give that writer a boost back up to the top of the list, and will encourage more people to read this post. It is a beautiful system!!

Speaking of Beautiful Wives, Here is mine!!! We have been together now for nearly 22 years and she is truly an amazing woman!!

If everyone here took a few minutes to actually read a few new people you may be surprised on how you can expand your base of information. And, it will help a potentially budding writer who has something to offer.

Share the love..........Why not lend a helping hand to others!!!

This will be my last political post on AR.

This place is like any other place. You make it what you will.You take from it what you need. And if you find yourself trying to waste your time in an attempt to monitor something that should be ignored, then consider it your fault.  My fault I guess...

The Internet is a wide open place. What ever you are looking for, even cash buyers for Real Estate, can be found here. If you see something you don't like, just click on by. AR is the same thing. If you find what you are looking for, then by all means make the best of it. Learn and share. Help others and enrich yourself. Make the experience a positive one.

Or do like this last post I was at is doing, and just go for the shock factor. The post was put out to create shock value..   http://activerain.com/blogsview/241477/Freaking-A-Is-it

                                                               Spice it up Play in mud, get muddy

I made a comment to his post that I felt this was inappropriate for a professional forum such as this. I should have realized its a waste of time. There are limits set by decent society, I know what they are, and its how I chose to live my life. Everyone has the same choices, most know when a line should not be crossed. I was not preaching. Just drawing the line back in the sand.

The smart ones just clicked on by, and stayed on their goal. There are so many good blogs posts here on AR there really is no reason for spending time on the ones that are not even relevant. To those who made comments such as pinhead and prude, lighten up, etc.. Good for you. Your opinions are important to at least one person. Not me.I know you guys had a ball with this locker room humor, but most of us don't need a Dictionary definition of common language that most 10 year olds have a pretty good grip on. My point was that is did not belong here, not here at all.

Commenting on  a blog post or two does not mean you know me. For me to comment on the fact that I felt it was unprofessional to use language like that in an open forum is my opinion. I believe its one that is shared by the vast majority of those who chose just to click away, like I should have. AR has been good to me already. I am grateful for what has been created here for us to share.

I won't spend any more time on this silliness when there are so many nicer things to do with my days. I'm here to do business, and when I'm not working you can find me fishing, biking, enjoying time with my Wife, Kids and Grandkids. And if you see one of my posts, or any links in my posts, you won't have to wonder whats on the other end.

                    I like to tell people how nice it is to live here in Lake County, Fla. If you like the coast, which I do, you can be there in about an hour.That is true for either coast, east or west.. My home is in Leesburg, Fla, and my wife and I are one of the fortunate ones who have had the house for more than ten years and have seen a dramatic increase in value. At one point, we could have made about 400% on our home, but with very low house payments where would you go? We like it here, and don't plan on moving soon.

For as nice as it is in Lake County, Fl, my wife and I are leaving next week on our annual leaf looking trip to North Carolina and Tenneessee. She is from the mountians, and we look forward to our trip with great expectations. Last year was about as perfect of a mountain trip as you could hope for, we had beatiful peak colors and snow for our brief time. It was a sight you dont get to see down here in Lake County and Leesburg , Fla.

             My Real Estate office is near my home, and we have a computer room/office now that all the kids are gone. We are comfortable here and have lived in the area for about 22 years now. My wife Teresa,is also in Real Estate, she IS the Real Estate department for a local small law firm. She takes the file from contract to closing and everything in between. Its nice to have her experience in the family, our combined time in the business makes us both more rounded in our related fields.

         Lake County has so many lakes, thus the name! I believe its over 200 names lakes, with the Harris Chain of Lakes being the most popular. There are dozens of little "dot" lakes, most spring fed and cold year round. They average from the smaller ones being 3-4 acres to 15 acres or so MOL...Boating and fishing are of course extremely popular, and with so many lakes, there are a multitude of Lakefront Homes too!

I try to limit my area of business to about 20 miles on average from my home/office. With the referral network set up within our company, I have found its easier to work more local, and still be able to provide an acceptable level of service to the clients. So if you look it up on a map, that means I handle properties in Leesburg, Fruitland Park, Lady Lake, The Villages, Wildwood, Eustis, Mr Dora, Grand Island, and Tavares. Our area had such phenomenal growth the last 10-15 years, it is impossible to have foreseen the population explosion around here.

So, if you want to work with someone who Knows the Lake County & Sumter County areas, call me. Our relocation referral program is awesome, whether you are an Florida Real Estate Agent or not. Send me an email to Mikenorvell@earthink.net  and I can let you know about the really super deals there are in this area now. 

Lake County Foreclosures and Lake County Short Sales are starting to hit the fan now, its a great time to be an investor or second home buyer.

Thanks for looking.

Mike Norvell Sr...........Mikenorvell.com               Lake County, Fla Homes

Good Morning...I have 15 minutes before I have to go to my closing of the week.

Its for my good old friend, that I have been assisting for nearly 15 years now. Some of you know that I owned and operated several automotive service centers for many years. My friend Al is one of my past auto clients, and we have now worked together on three sales.

Today he is supposed to be going to Costa Rica. He wants to retire there, but as of last night, he is not wanting to move. He and his dog are not ready. I knew his mom for years, and I went thru this on the last two times we sold his house.

But this time, he's not moving across town. Apparently the farewell party his old retired friends in the mobile home park threw him has made him realize he is leaving over 18 years of local relationships behind. I informed him of the consequences. The movers have already put 95% of his belongings in storage, only a small cot and table and chair are left. Last weeks yard sale took care of much of his stuff, we figured it would be cheaper to replace it in Costa Rica than to ship it down. The moving truck with new owners stuff is ALREADY sitting at the front fence awaiting the closing this morning.

Realtors>>>>Taking Care of Business>>>>>>>>.

Part of our job of Realtors is being full time counselors and baby sitters. Anyone who has ever sold a home with a good Realtor knows what we are worth. We keep deals together on effort and willpower alone sometimes!

We do earn our money. ..........RIngggg Ringgggg....Its AL.."Do you think I could get another week here if I paid rent?...No Al, its time....We have a flight tomorrow morning set for you to Costa Rica, and someone is already scheduled to pick you up at the airprot. Remember Al, this is the Dream you have been talking about with me for years......Ok, yes Al, I will help with the Final arrangements....I will see you at the walkthru in a few minutes and we will go have lunch after. YES, TOMMOROW YOU WILL BE IN COSTA RICA, THE TICKETS ARE BOUGHT AND PAID FOR, THE APARTMENT IS ALREADY PAID FOR, EVERYTHING IS ALL SET.....Good BYE AL, I will see you in a few minutes, please be ready and behave like you promised to do......OK>>OK>>>Thanks AL

Its a great day here in Leesburg Fla, and AL is finally going to move to Costa Rica.....We do earn our money, don't we!

 I just want to you all to know that I have learned a little about inserting pics into the blog. I have even went on a search of pics, and thinking about how I might use them. My next phase will be to learn to inset market reports, links and some of the widgets that i have been playing with. I love the way some of the listings are being presented, so much more interactive and user friendly. I saw one thing yesterday on a blog called flier widget. I really like that little jewel...This will take you to Sandy's site! http://activerain.com/blogsview/239587/139-Kensington-Street-Mooresville

 I have been experimenting, and actually had a few people ask ME how I did that. I even found out today, after completing the paperwork on a cash deal closing next week, how to examine source code on websites. Don't know what I'm looking at yet, but I will!!

<<<I was thinking maybe  I  deserve an award for all my progress, so I gave myself one.

So Dianne wanted to know How I did the word wrap..here is what I told her.

Hey Dianne,,,,,no problem. Now, after much practice...no problem!!!!

Go ahead and write your blog, with some pictures in mind that you would like to place in the blog later. then click the cursor on the spot , either left or right, that you want to insert the pic.(ps...this will be approx. because it will change a bit later, sometimes you have to adjust the spacing of the text a little later) then go to the little box above the blog, and click on the pic icon (looks like a tree) this will bring up a box, hit browse, select picture, and then click on the appearance box. This will take some experimentation here, but from here you can see basically how the pic will word wrap. If you don't like it, then go back by clicking on the inserted pic one time, and then the pic icon again, go to appearance tab, try something else

Time and practice makes perfect. I have found it is easier to place the text first then the pictures. Take a bunch of any old text, and copy it into a bog post. That way you can practice quickly just with the pictures. I have also found that if you change the size of the pic in the appearance drop down, you only have to change one size length OR width, and-the program will change the other dimension proportionately.

Hope this helps...And if anyone else has more hints, or tricks, we would appreciate any positive comments..

Thanks

Mike Norvell Sr

Exit Realty Tri-County________Serving Lake & Sumter Counties, Central Fla         Mikenorvell.com