You know you are about to take a trip when the phone starts ringing

You know you are about to take a trip when the phone starts ringing and you have more to do than time to do it in…. Wish me luck… May the phone start ringing so I can pay for my trip to China!

I am going to Beijing to see my son and GF! This is going to be so much fun and so interesting… I now have to make lists because as we all know business picks up when you are about to go away… So far I don’t have to refer any business out but I think I will be busy. I have people who can cover for me while I am away. The trip is from MAY 14-28… Right after hubby grades his last final at Boise State University. Yes Professors and their spouses get excited when the term ends too!

I am really mad at CBH homes

I am mentoring another agent.  Her client is trying to build a new home from CBH homes.  They walked into the office and worked out the contract with the CBH agent the terms of the contract.  The sellers agent wrote the contract up with $1500 in the design studio (for upgrades).  We never had a chance to set the terms of the offer since it was complete and our clients had agreed to those terms.  Our clients signed the offer and they countered taking away this money.   This seems to me to be bait and switch.  If we had asked for this it would have been fine for them to counter but they wrote the contract not us.  I am advising that we counter with that money in.  The kids are afraid of losing the contract but they really could use the money so they can have things a house SHOULD have standard… Like a non shallow sink…. A closet door…. A 6 lb carpet pad….

Selling a build job for the first time…

For the first time in my 6 .5 years as a real estate agent I helped a couple write an offer on a build job.  It was sort of interesting on many counts.

1) I am helping a brand new agent out (who I am partnering with) and so technically I just referred it to her…. Well actually she got the client but it is a way to pay me for my expertise…

2) I spent a lot of time researching CBH homes and reading a new type of contract….

3) The biggest problem that buyers seems to run into is that they make the contract and that seems to be a base price.  Then you go to the design studio and pick your colors and upgrades… This can add to the price of the final home.  The couple had already picked some upgrades…We encouraged the couple to go the design studio in the next day or so before they were well underway…

4) Being me I started to worry that they might get a very basic home because they wouldn’t be able to afford the upgrades that they wanted… I am a bit reassured but when we went house hunting they seemed to love vaulted ceilings and that is an upgrade… I think that it might even be one worth paying for…

5)  I never have actually partnered with another agent officially.  This will hopefully be the first of many deals we do together…

6) The couple like the idea of picking everything… This is the obvious good part of buying a new home…

Hopefully everything will go smoothly.  I made sure the couple knew that we were looking out for their best interest.. The other agent works for the builder and represents the builder. Going totally with the builders agent is like letting your husbands divorce attorney write your paperwork….

These are Debbie”s thoughts for the day..

Found a great investment but cant interest anyone….

Sometimes as an agent we find a cash cow….. A property that has significant extra value in price or a great rental value…. I found one such property…. It is 3 bedrooms, 1.5 bath 1152 sq ft.  in Boise at a negotiated shortsale of $73000 plus closing costs.  It is even possible that the owner would like to stay at the home and rent it.  Whether you are looking for a home or an investment this is it.  The value is $100,000 today if you turned around and sold it.  I have been in it and wrote an offer on it in October.  It is a nice home for the money.  If you want to see it give me a call.  This home is near the Boise Town Square.  It’s not my listing but it is a good one… I am even thinking of making an offer.  I called my buyers but none of them are ready to move on it.  To bad because it is a very nice home for the money.

Quiet time for me right now….

Quiet time for me right now…. (edit/delete)

Well the real estate market is a funny animal.   Sometimes you are so busy you don’t know where to turn.  You are running around and falling in to bed late.  Then it gets quiet for a bit… I am in one of my quiet bits… Perhaps the two are related… When you are running around you do not have as much time to prospect.  With prospecting brings clients… When  it calms down you prospect again.  Ideally you never stop prospecting so the pipeline never slows… The quiet time is a bit convenient (except for the lack of sales) since my dad is recovering from a stroke.  It isn’t that I haven’t been busy…. I had the busy start of the year… The buyers with cash in the suitcase.  I also had a pending fall on inspection… I have a buyer who wants what I cannot find… So it is quiet…. I hope to get busy but we will see… So now it is a quiet time for me right now…. Give me patience…. Maybe I should work on my 2011 taxes and prospect.

So if you want to buy a home in the Treasure Valley Call Debbie Holmes.  She is a great agent with some time on her hands….

Help Wanted Buyers!

Well it has happened.  I sold all my listings!  Well one is pending!

Now I need your help… If you want to sell in the Treasure Valley of Idaho call me! The Treasure Valley includes:  Boise, Meridian, Eagle, Star, Kuna, Idaho City, Nampa, Caldwell and middleton.  This really great real estate agent will take you through the process of selling the home from start to finish…

1) Advice you on market conditions.

2) Perform a real market analysis.

3) Help you prepare your house for the market.  I have a list of different types of workmen and stagers who will make your home shine.

4) Hire a photographer for a virtual tour.

5) I will put a nice sign in your yard.

6) Keep the flyer box full.

7) Market your home on the Internet including but not limited to Zillow, Realtor.com, trulia, multiple listing service, activerain, facebook and google.

8) I blog and I will blog about your home to create a bigger Internet presence.

9) I have line ads every weekend in the Idaho Statesman every Friday through Sunday.

10) I will open your home at least once a month (if you want me to).

11) I will keep you informed on the activity and interest in your home.

12) I will present all offers and advice you on how to handle the offer.

13) I will prepare a net sheet for you for all the offers.

14) I will negotiate your offers.

15) I will be in contact with the buyers agent and their lender to facilitate the closing.

16) I will advice you on the inspection contingency form.

17) I will be in contact with the title officer.

18) I will read and examine the HUD1 and settlement form for accuracy.

19) If you are in the Treasure Valley I will come to your closing.

20) I will answer any questions you have (if I don’t know the answer I will find it).

21) I can find you your next home or your next agent if you are moving out of the area.

21) I will listen and do my best to get your home SOLD and CLOSED.

Working together we will get your home sold!  I also do short sales and I will write that up in a diffenent post!

So please let me help you get your Treasure Valley home sold!  You won’t be sorry!

Contingent short sale? What is it?

So we know a short sale is when the seller owes more then the house is worth….. So the third party the lender needs to approve or even renegotiate the deal….. We have all seen this…..

 

So the short sale listing gets an offer the buyers and the sellers come to terms….. Now the package is sent to the bank… If the buyer and seller are lucky the bank has given the listing agent an idea where the house should be listed…. More likely they told the agent they wouldn’t talk until the agent had an offer….

At this stage the sale is marked as a contingent short sale… The sale is contingent on the bank agreeing to the terms or renegotiating the contract.  The bank can take as long as they want….They never seem to care what the timeframe of the offer is…. The classic question of the buyer is when can we move in?  The answer is 30 days to never.   All rules of ethics seems to go out in a short sale situation.  Unless the listing agent sets rules position doesn’t matter very much…If more offers are sent to the bank they just reject the lower offer no matter when it comes in…   The sale is still active in the multiple listing service (CSS) but venders like Zillow don’t seem to have this information… Also some buyers are insistant on seeing them… Once in while you get the news that they welcome backup offers because the buyer is about to walk…Or the offer is to low….

I ask my buyer why would you want to look at a contingent short sale?  It’s mostly like a pending without bank approval… During the time the a property is a contingent short sale everyone waits…. No money is spent and all timelines are suspended while bank approval is sought..  The bank will either say yes, no or renegotiate…. Often the bank will let the home go to foreclosure (especially if the offer is low)…

Many times a buyer walks (they actually do want to buy something) and the agents lists the home as active and seeks another buyer to slip into the spot.  These are better for the new buyer because the process is started…

If you need to settle a deal quickly it important to stay away from most short sales and contingent short sales…Once in a while the buyer walked as the bank came back… Those are the safe short sales to buy in a timely manner…Your real estate agent knows the lingo to indicate that a short sale can settle quickly.

After the bank comes to terms with the buyer and the seller the listing status changes from contingent short sale to pending…. I hope this helps…

  Debbie Holmes

Gold Key Real Estate    

(208)761-2551 Email: d5holmes@msn.com

To search Boise Homes visit my website