Real Estate Education Training:
DC Hill Visits are very effective!
Start making contact with your Members of the House and Senate for some "face time" at the NAR Washington DC meeting! It seems like just yesterday that we were in Washington DC meeting with our elected officials and requesting support for a number of National Association of Realtors (NAR) housing related issues. It reminds me of the old Superman series voice over " for truth, justice and the American way!" We have our various State Association of Realtors meetings across the country with varying frequencies, however, the grand daddy of them all is the NAR Washington DC meeting. Washington DC is truly the most effective meeting place for our Realtor leadership from across the country. Working together with our elected representatives, staff and volunteers to protect the rights of home ownership is always a learning experience. Congressman Ken Calvert, R-CA has always been a true friend to our industry and has worked to help us keep the benefits of homeownership in tact. He and other elected representatives are true friends.
The NAR meetings in DC are always filled with valuable Real Estate information. The committee meetings and forums offer new and updated information regarding the state of our industry. Our NAR Research Staff lead by Dr. Lawrence Yun is superb! The briefings are always well attended. The Research staff reports are shared with major news media and Realtor members across the country. This helps keep the public and Realtor members informed on housing trends. Data from our Research Staff and Committee is used to shape the discourse on the local, state and national levels. Special thanks to all our dedicated committee staff and volunteer members for making our meetings informative and worth every effort made to attend.
One of the best places to review the new technological advances and Real Estate related products for our industry is at the Expo. Exhibitors from across the country set up booths with everything from computers to business attire. It is always a treat to see the exhibitors demonstrate the software designed specifically for Realtors. I am drawn to several "regulars" like Top Producer and our Realtor Store. There are so many vendors with an array of products designed to help us better serve our clients. It takes several hours just to navigate the Expo and it is well worth it!
One of my all time favorite DC meetings included the Realtor Rally. Thousands of Realtor members wearing the Realtor Blue T Shirts gathered on the mall to hear presentations by our NAR President Moe Veissi, Realtor friendly Elected Officials and other industry leaders. NAREB President Julius Cartwright commented that "the Realtor Leadership very graciously allowed me and other industry spokesmen the opportunity to participate". Realtor Tom Salamone did an excellent job as Master of Ceremony. We were very proud to have made our presence known in a very positive demonstration of Realtor Pride. That was a special event of enormous magnitude and it will be remembered for many years to come!
Let's talk about some other great and fun reasons for going to the Washington DC meeting. Monuments to our nations leaders abound! One year we walked from the Wardman Park Marriott to Arlington National Cemetery. It took the entire day but we made stops along the way at several very interesting places including Embassy Row, the Corcoran Gallery of Art, Lincoln Monument and a few restaurants. There are so many great eateries to visit and enjoy fantastic meals. We always enjoy Adams Morgan, Georgetown and the majestic federal buildings around the city. Walking is always a great way to see more detail but one can always opt to ride the very affordable Metro Trains. Getting around DC in the Metro Train is often much quicker and always less expensive than cabbing through heavy traffic. Several of my favorite restaurants are easily accessed by Metro including Maggianos, B. Smith's and Old Ebbitt Grill.
We truly appreciate all the effort that goes into making our DC meeting a must attend annual event. State and National Staff members, as well as, Volunteers work diligently to provide beneficial activities for Realtor members from across the country and abroad. Every Realtor should attend a DC meeting. I believe that the experience will be one of the very best opportunities to learn and share.
Saturday, March 30, 2013
Friday, March 29, 2013
Curb Appeal Sells!
Real Estate Education Training:
Is This a Good Neighborhood?
I believe that one can tell a "good neighborhood" by noticing if there are more folks jogging, walking or bike riding than there are unattended or stray dogs running around. We cannot "steer" clients so I do a lot of "advising" when showing property. Steering is illegal! There are a lot of ways to avoid steering when responding to the "is this a good neighborhood" question? I advise them to call the local School District (www.miketeer.com for School Reports) for information on the schools that their kids will attend K-12 and ask for information. I also tell them to call the Police Department and ask for crime and other statistical data regarding the neighborhood. Where is the nearest Fire Station? I am always pleased to inform my clients on how to get information that will answer their questions about the safety and desirability of the homes in the area during our home tours.
Sometimes the job is made easier by observing the exterior condition of the homes. A quick glance at the lawn, sidewalks and streets will tell you a lot about the efforts of current homeowners. Lawns that are overgrown or poorly maintained provides a good indication regarding pride of ownership or the lack thereof. Paint or stucco condition?
I take a good look at the roofs on homes in older neighborhoods to see if they are have been upgraded with modern roofing materials. Roofs composed of outdated rock or wooden materials are a concern to me. A home with a roof made from worn materials may be troublesome and in need of work within a few years of occupancy. Roofs are very expensive to replace so the existence of an obsolescent roof is a strong indicator of a neighborhood that might be in decline.
Checking with the Police Department as noted above is always a good idea. A careful look at the homes on the block will also give a good indication of the current residents efforts to remain safe. Bars on the first floor windows can be considered a hint - bars on second or higher floors is a message that there are some real concerns! Security systems are very common in many neighborhoods and there are often yard signs noting which security company is providing the protection. Security bars on the other hand serve to imprison the occupants.
I generally advise the buyer prospect to take an evening and week end drive through the area. This allows the prospect to see the neighborhood residents, observe noise levels and see for themselves if occupants are working to maintain their homes. Code enforcement laws generally dictate basic standards in many cities but enforcement levels vary.
Be sure to pay attention to the condition of the driveways. Automobiles in poor condition often leave oil and other stains. Multiple stains on driveways might indicate a long period of poor vehicle maintenance or indicate that the driveway is used for regular automobile repairs. Neighborhood pride will shine through. Deferred maintenance is also very obvious. Watch for tell tale signs. Contact the School District and Police Departments and ask for information. Find the nearest Fire Station. Visit the neighborhood in the evening and on week ends.
Finally, be sure to note which services are offered in the neighborhood shopping center. Amenities such as a well stocked grocery store, pharmacy, bank branch(s) and other essential businesses generally demonstrate a strong and functional community. I have always appreciated the way Riverside and other Cities maintain the public areas. Regular street sweeping and keeping the neighborhoods free of debris really makes a positive statement.
Michael Teer, Broker
Certified Residential Specialist (CRS)
Teer One Properties, Inc.
(951) 313-5168 Cell
www.miketeer.com
ProbateSoCal@gmail.com
Is This a Good Neighborhood?
I believe that one can tell a "good neighborhood" by noticing if there are more folks jogging, walking or bike riding than there are unattended or stray dogs running around. We cannot "steer" clients so I do a lot of "advising" when showing property. Steering is illegal! There are a lot of ways to avoid steering when responding to the "is this a good neighborhood" question? I advise them to call the local School District (www.miketeer.com for School Reports) for information on the schools that their kids will attend K-12 and ask for information. I also tell them to call the Police Department and ask for crime and other statistical data regarding the neighborhood. Where is the nearest Fire Station? I am always pleased to inform my clients on how to get information that will answer their questions about the safety and desirability of the homes in the area during our home tours.
Sometimes the job is made easier by observing the exterior condition of the homes. A quick glance at the lawn, sidewalks and streets will tell you a lot about the efforts of current homeowners. Lawns that are overgrown or poorly maintained provides a good indication regarding pride of ownership or the lack thereof. Paint or stucco condition?
I take a good look at the roofs on homes in older neighborhoods to see if they are have been upgraded with modern roofing materials. Roofs composed of outdated rock or wooden materials are a concern to me. A home with a roof made from worn materials may be troublesome and in need of work within a few years of occupancy. Roofs are very expensive to replace so the existence of an obsolescent roof is a strong indicator of a neighborhood that might be in decline.
Checking with the Police Department as noted above is always a good idea. A careful look at the homes on the block will also give a good indication of the current residents efforts to remain safe. Bars on the first floor windows can be considered a hint - bars on second or higher floors is a message that there are some real concerns! Security systems are very common in many neighborhoods and there are often yard signs noting which security company is providing the protection. Security bars on the other hand serve to imprison the occupants.
I generally advise the buyer prospect to take an evening and week end drive through the area. This allows the prospect to see the neighborhood residents, observe noise levels and see for themselves if occupants are working to maintain their homes. Code enforcement laws generally dictate basic standards in many cities but enforcement levels vary.
Be sure to pay attention to the condition of the driveways. Automobiles in poor condition often leave oil and other stains. Multiple stains on driveways might indicate a long period of poor vehicle maintenance or indicate that the driveway is used for regular automobile repairs. Neighborhood pride will shine through. Deferred maintenance is also very obvious. Watch for tell tale signs. Contact the School District and Police Departments and ask for information. Find the nearest Fire Station. Visit the neighborhood in the evening and on week ends.
Finally, be sure to note which services are offered in the neighborhood shopping center. Amenities such as a well stocked grocery store, pharmacy, bank branch(s) and other essential businesses generally demonstrate a strong and functional community. I have always appreciated the way Riverside and other Cities maintain the public areas. Regular street sweeping and keeping the neighborhoods free of debris really makes a positive statement.
Michael Teer, Broker
Certified Residential Specialist (CRS)
Teer One Properties, Inc.
(951) 313-5168 Cell
www.miketeer.com
ProbateSoCal@gmail.com
Friday, March 22, 2013
Spring Cleaning Time
Real Estate Education Training:
Great Time to Get Organized
Every year I find myself looking for a way to eliminate clutter and find that extra bit of space for all the things that I just had to have. A lot of gadgets, advertising brochures and other items are still in the original container, box or bag used to haul them to the office or home. Having left them unused over a period of time is a sign that I really do not need these things to survive.
I find that I am truly hooked on all the hand outs given to me by the many vendors at our California and National Association of Realtors (CAR and NAR respectively) Expos. It almost seems unfriendly to walk past the folks there representing so many very useful firms and not at least smile and take the item. They are always so pleasant and you just find it hard to not be receptive. I have the same problem when going to our neighborhood store during Girl Scout Cookie sales campaigns. I have brought home and ended up giving away a number of boxes of short bread, chocolate mint and other cookies because I know the young ladies are raising money for their organization.
Someone once told me that if I had a box on a shelf that I had not opened in a very long time that I should just throw it away without even bothering to look inside. I still do not have the guts to take that advice. Every time I think that I should do just that I open the box and find something that I still consider valuable. So I usually end up taking the time to sort through it. There are times when the valuables are only about 10% of the contents but I still think it is worth it to reduce the chance that a valuable photo, trinket or who knows what might be thrown away.
We all hear the time change comments reminding us to set our clocks ahead one hour. We were also reminded that this was a good time to change batteries in our smoke and carbon monoxide detectors. I was very pleased to get the extra hour in the evenings. This extra daylight made it better for driving home from work, shopping or chores since it gets dark an hour later. The trade for the extra daylight in the evenings was getting up in the morning in the dark.
All said it is still good to use this time change and extra daylight in the evenings to pull out the cleaning supplies, move furniture and haul any unneeded items to the Goodwill. I feel compelled to put a plug in for Veterans Organizations that solicit usable items as well. It is also suggested that you open all screened windows and doors to allow the fresh air and smell of flowers into the home. This beats using air fresheners and also allows you to hear the birds as they use their extra daylight time to serenade us.
I find it works best for me to start in our garage. Eliminating unused and unwanted items gives me more room for rotating items from the house that still hold value. I always pull up the trash cans to the garage door for easy use in throwing the items away. I am sometimes tempted to put a few items to the side in case a family member or friend might care to take it home but I am getting better at not putting them on the spot. They may not want to hang a picture of something that I am throwing away in their home.
The extra space in the garage is best used by placing and anchoring sturdy shelving units against the walls. Careful not to block electrical outlets, light sources and other items that you might need to access. I erred a few times and blocked the automatic sprinkler system controls and had to sit through several days of a heavy rain cycle watching my sprinkler system adding to the problem of too much water.
Make sure that you have good boxes or other strong storage containers. This makes packing and stacking your precious belongings on the shelves in an orderly manner.
Finally, do one room at a time from top to bottom and allow ample time to complete the work. The last task will likely be the mopping or vacuuming of the flooring. This allows you to really get at it with dusting and other chores. There are many other suggestions out there that will make our Spring cleaning (purging) more organized and I am open for hearing more ways to enjoy the extra day light without clutter.
Great Time to Get Organized
Every year I find myself looking for a way to eliminate clutter and find that extra bit of space for all the things that I just had to have. A lot of gadgets, advertising brochures and other items are still in the original container, box or bag used to haul them to the office or home. Having left them unused over a period of time is a sign that I really do not need these things to survive.
I find that I am truly hooked on all the hand outs given to me by the many vendors at our California and National Association of Realtors (CAR and NAR respectively) Expos. It almost seems unfriendly to walk past the folks there representing so many very useful firms and not at least smile and take the item. They are always so pleasant and you just find it hard to not be receptive. I have the same problem when going to our neighborhood store during Girl Scout Cookie sales campaigns. I have brought home and ended up giving away a number of boxes of short bread, chocolate mint and other cookies because I know the young ladies are raising money for their organization.
Someone once told me that if I had a box on a shelf that I had not opened in a very long time that I should just throw it away without even bothering to look inside. I still do not have the guts to take that advice. Every time I think that I should do just that I open the box and find something that I still consider valuable. So I usually end up taking the time to sort through it. There are times when the valuables are only about 10% of the contents but I still think it is worth it to reduce the chance that a valuable photo, trinket or who knows what might be thrown away.
We all hear the time change comments reminding us to set our clocks ahead one hour. We were also reminded that this was a good time to change batteries in our smoke and carbon monoxide detectors. I was very pleased to get the extra hour in the evenings. This extra daylight made it better for driving home from work, shopping or chores since it gets dark an hour later. The trade for the extra daylight in the evenings was getting up in the morning in the dark.
All said it is still good to use this time change and extra daylight in the evenings to pull out the cleaning supplies, move furniture and haul any unneeded items to the Goodwill. I feel compelled to put a plug in for Veterans Organizations that solicit usable items as well. It is also suggested that you open all screened windows and doors to allow the fresh air and smell of flowers into the home. This beats using air fresheners and also allows you to hear the birds as they use their extra daylight time to serenade us.
I find it works best for me to start in our garage. Eliminating unused and unwanted items gives me more room for rotating items from the house that still hold value. I always pull up the trash cans to the garage door for easy use in throwing the items away. I am sometimes tempted to put a few items to the side in case a family member or friend might care to take it home but I am getting better at not putting them on the spot. They may not want to hang a picture of something that I am throwing away in their home.
The extra space in the garage is best used by placing and anchoring sturdy shelving units against the walls. Careful not to block electrical outlets, light sources and other items that you might need to access. I erred a few times and blocked the automatic sprinkler system controls and had to sit through several days of a heavy rain cycle watching my sprinkler system adding to the problem of too much water.
Make sure that you have good boxes or other strong storage containers. This makes packing and stacking your precious belongings on the shelves in an orderly manner.
Finally, do one room at a time from top to bottom and allow ample time to complete the work. The last task will likely be the mopping or vacuuming of the flooring. This allows you to really get at it with dusting and other chores. There are many other suggestions out there that will make our Spring cleaning (purging) more organized and I am open for hearing more ways to enjoy the extra day light without clutter.
Friday, March 15, 2013
Do Veterans Deserve Fair Access to Housing?
Real Estate Education Training:
Are Veterans Being Denied Housing?
Let me disclose that I am a Service Connected Disabled Veteran. I served in Vietnam from 1965-1966 in many locations including Saigon (MACV Headquarters) and Pleiku (25th Infantry) in the communication centers. I am proud to have had the honor of serving my country and I am very thankful to have survived my tour of duty in Vietnam. I should also state that I am a homeowner and have been in my present home since 1986. I do not plan to purchase another home.
I have had the pleasure of working with many Veterans during my 30 years as a licensed real estate agent/broker. It always made me especially proud to help my fellow Veterans. I remember so many transactions where the Veteran and his family were so thrilled to receive the keys to their new home that they were moved to tears while thanking me for my work. I must admit that I was especially proud to have been a part of their journey.
The VA loan, like many loans, changes from time to time. There have been several beneficial modifications to the rules designed to make the VA Loan more competitive. It is, and always has been, difficult for buyers using VA loans to compete with Cash, Conventional and even FHA loans. Cash, especially "as is" Cash offers are generally winners. VA and FHA loans may also share similar fates when a Conventional offer is in the competition.
My concern over the years has been whether we, as a nation, believe our Veterans deserve fair access to housing. I cannot speak for Veterans but I believe I can comfortably speak up for Veterans. I can also speak from personal experience. My first effort at home ownership was in 1970. We made an offer on a home in University City, MO. Our offer was full price and we were asking the seller to pay our closing costs. We were competing with another offer which was accepted and our offer was rejected. Per the agent, the seller did not want to pay our closing costs and felt a counter offer was not worth making because they did not want to sell to a VA buyer. The Seller expressed concerns about other problems that might occur with the VA appraisal, etc.
Low inventory also adds to the problem of getting a VA offer accepted. Many sellers still see the VA loan as a potential nightmare and this hurts our present day heroes. We must find a way to help. The Veteran buyer using his or her VA loan should not be seen by Sellers as an escrow obstacle course. This will only happen if we demand legislation that will improve the perception of the VA loan and eliminate every possible expense to Veterans. Further, Sellers should not be asked to pick up any costs that they would not normally incur with other buyers. Our Veterans deserve a true "VA No No" loan with no down payment and no closing costs. We need to find an elected representative to draft a bill (with real estate industry support) and secure passage of legislation that will make this happen.
Are Veterans Being Denied Housing?
Let me disclose that I am a Service Connected Disabled Veteran. I served in Vietnam from 1965-1966 in many locations including Saigon (MACV Headquarters) and Pleiku (25th Infantry) in the communication centers. I am proud to have had the honor of serving my country and I am very thankful to have survived my tour of duty in Vietnam. I should also state that I am a homeowner and have been in my present home since 1986. I do not plan to purchase another home.
I have had the pleasure of working with many Veterans during my 30 years as a licensed real estate agent/broker. It always made me especially proud to help my fellow Veterans. I remember so many transactions where the Veteran and his family were so thrilled to receive the keys to their new home that they were moved to tears while thanking me for my work. I must admit that I was especially proud to have been a part of their journey.
The VA loan, like many loans, changes from time to time. There have been several beneficial modifications to the rules designed to make the VA Loan more competitive. It is, and always has been, difficult for buyers using VA loans to compete with Cash, Conventional and even FHA loans. Cash, especially "as is" Cash offers are generally winners. VA and FHA loans may also share similar fates when a Conventional offer is in the competition.
My concern over the years has been whether we, as a nation, believe our Veterans deserve fair access to housing. I cannot speak for Veterans but I believe I can comfortably speak up for Veterans. I can also speak from personal experience. My first effort at home ownership was in 1970. We made an offer on a home in University City, MO. Our offer was full price and we were asking the seller to pay our closing costs. We were competing with another offer which was accepted and our offer was rejected. Per the agent, the seller did not want to pay our closing costs and felt a counter offer was not worth making because they did not want to sell to a VA buyer. The Seller expressed concerns about other problems that might occur with the VA appraisal, etc.
Low inventory also adds to the problem of getting a VA offer accepted. Many sellers still see the VA loan as a potential nightmare and this hurts our present day heroes. We must find a way to help. The Veteran buyer using his or her VA loan should not be seen by Sellers as an escrow obstacle course. This will only happen if we demand legislation that will improve the perception of the VA loan and eliminate every possible expense to Veterans. Further, Sellers should not be asked to pick up any costs that they would not normally incur with other buyers. Our Veterans deserve a true "VA No No" loan with no down payment and no closing costs. We need to find an elected representative to draft a bill (with real estate industry support) and secure passage of legislation that will make this happen.
Monday, March 11, 2013
Preparing for CAR Sacramento!
Real Estate Education Training:
CAR Sacramento is just around the corner!
Our annual visit to Sacramento is always filled with excitement! I have been fortunate to make the trip since 1994 and I still look forward to the information and networking opportunities provided by our California Association of Realtors (CAR) Staff and Volunteers. This is always a popular CAR meeting and is often the largest. The other two annual CAR meetings are rotated among other popular California Cities (Northern and Southern) but Sacramento in my opinion is still the main attraction. The visits with our Legislators are always a highlight. We are afforded in office "face time" with our hometown and other elected California Leadership and given the opportunity to discuss Real Estate industry topics of interest that enhance our ability to help our clients. This years meeting will be just as exciting and informative. We have several new Assembly members and Senators representing us and staff changes as a result of the November elections. The Inland Empire has newly elected Assembly members Cheryl Brown and Jose Medina. Senator Richard Roth is also a new member of our California Legislature. I am sure that we will meet with these and other new members to share our common interest on housing related issues.
Our CAR Staff also convenes an orientation/issues briefing to help us better present the Real Estate related issues to our elected officials during the visit. Office visits with each legislator are about one half hour and it is crucial that this time be well used to convey our industry concerns, etc. This is NOT a time to be used to discuss non Real Estate issues or personal problems. CAR Staff and Volunteers have developed videos and other training materials emphasizing the proper protocol for visits with our Legislators. We are reminded that we cannot give or discuss money donated during the meeting with Legislators.
The Legislative Reception is also a great opportunity to chat with and introduce our elected officials in an informal setting. This tradition is very special and always has overflow attendance with elected officials and other Real Estate industry movers and shakers. The Reception is on Wednesday during the CAR meeting.
I enjoy the networking with my many Realtors friends from up and down the state. My nearly two decades of attending CAR meetings has helped me forge some valuable business and personal relationships. If a California Realtor is going to attend one meeting a year, it will likely be the CAR Sacramento meeting. CAR meetings always offer an array of industry related committee meetings, guest speaker events and more to keep you up to date on our business. Sacramento is easily reached by ground or air transportation. Some Realtor members car pool to help defray their costs. Some also share a room to further reduce the expense.
If you are planning to attend the CAR Sacramento meeting this is a great time to begin making travel and hotel arrangements. First, inform your Local Association Staff and let them know that you plan to go. You might also inquire whether there are key meetings, luncheons or other events during the Sacramento meeting. This information will help you get the most out of the meeting. Staff can also direct you on registration and other steps that will make the investment worthwhile. You will likely need to make your own travel and hotel room registrations. The sooner you begin the process the better choices for hotels near the Sacramento Convention Center. Be sure to go to the www.car.org web site for additional information about the meeting and other Realtor benefits.
CAR Sacramento is just around the corner!
Our annual visit to Sacramento is always filled with excitement! I have been fortunate to make the trip since 1994 and I still look forward to the information and networking opportunities provided by our California Association of Realtors (CAR) Staff and Volunteers. This is always a popular CAR meeting and is often the largest. The other two annual CAR meetings are rotated among other popular California Cities (Northern and Southern) but Sacramento in my opinion is still the main attraction. The visits with our Legislators are always a highlight. We are afforded in office "face time" with our hometown and other elected California Leadership and given the opportunity to discuss Real Estate industry topics of interest that enhance our ability to help our clients. This years meeting will be just as exciting and informative. We have several new Assembly members and Senators representing us and staff changes as a result of the November elections. The Inland Empire has newly elected Assembly members Cheryl Brown and Jose Medina. Senator Richard Roth is also a new member of our California Legislature. I am sure that we will meet with these and other new members to share our common interest on housing related issues.
Our CAR Staff also convenes an orientation/issues briefing to help us better present the Real Estate related issues to our elected officials during the visit. Office visits with each legislator are about one half hour and it is crucial that this time be well used to convey our industry concerns, etc. This is NOT a time to be used to discuss non Real Estate issues or personal problems. CAR Staff and Volunteers have developed videos and other training materials emphasizing the proper protocol for visits with our Legislators. We are reminded that we cannot give or discuss money donated during the meeting with Legislators.
The Legislative Reception is also a great opportunity to chat with and introduce our elected officials in an informal setting. This tradition is very special and always has overflow attendance with elected officials and other Real Estate industry movers and shakers. The Reception is on Wednesday during the CAR meeting.
I enjoy the networking with my many Realtors friends from up and down the state. My nearly two decades of attending CAR meetings has helped me forge some valuable business and personal relationships. If a California Realtor is going to attend one meeting a year, it will likely be the CAR Sacramento meeting. CAR meetings always offer an array of industry related committee meetings, guest speaker events and more to keep you up to date on our business. Sacramento is easily reached by ground or air transportation. Some Realtor members car pool to help defray their costs. Some also share a room to further reduce the expense.
If you are planning to attend the CAR Sacramento meeting this is a great time to begin making travel and hotel arrangements. First, inform your Local Association Staff and let them know that you plan to go. You might also inquire whether there are key meetings, luncheons or other events during the Sacramento meeting. This information will help you get the most out of the meeting. Staff can also direct you on registration and other steps that will make the investment worthwhile. You will likely need to make your own travel and hotel room registrations. The sooner you begin the process the better choices for hotels near the Sacramento Convention Center. Be sure to go to the www.car.org web site for additional information about the meeting and other Realtor benefits.
Sunday, March 10, 2013
Is the NAR Variable Dues Fair?
Real Estate Education Training:
Why the NAR Variable Dues Formula Works!
I recently received and viewed a video (PWRMinute) featuring our Pacific West Association of Realtors 2013 President and Treasurer, Al Ricci and Phil Jones, respectively. They were discussing the National Association of Realtors (NAR) Variable Dues Formula and that everyone had to pay it. They also emphasized that the formula was being applied by ALL Associations so making a change would not exempt you from paying. The Variable Dues Formula is computed by comparing the number of dues paying Realtor members carried on each firms roster to the number of real estate licensees shown on the California Department of Real Estate roster assigned to that firm. My first reaction was oh oh - another hit on my budget. But then I remembered conversations over the years where some of us wondered how fair it was for approximately 160 thousand dues paying Realtor members to carry water for the approximately 500 thousand plus or minus real estate licensees noted on the California Department of Real Estate rosters. A real estate licensee is NOT always a Realtor. This means that all the volunteer hours, money and other resources invested annually by California Realtor members was also helping all real estate licensees earn a living in our industry. It stands to reason that there are nationally even more real estate licensees being allowed to drink water from the wells dug by our Realtor members.
Per the PWRMinute video and other written communication, Designated Realtors will need to pay the Variable Dues Formula dollar amount based on the number of DRE registered licensed real estate agents in the Designated Realtors office. More specific information is also available in the Questions & Answers (Q&A) provided by your local association. The PWRMinute video featuring Pacific West Association leadership was a very good "heads up"regarding emails and letters that were coming our way.
Why is the NAR Variable Dues Formula a good idea? I can think of many reasons in addition to my earlier comments. First, and foremost is the fairness issue. Our business counts on quality and consistent service to our Realtor members at the local, state and national level. Having a well informed and attentive staff is the key to providing assistance to our Realtor members. When our Realtor staff and volunteers work to add value to our industry we all benefit and can better serve our clients as well. Our super beneficial and highly praised ZipForms are a product of the hard work of our Realtor staff, committee volunteers and others. By the way, I highly recommend reviewing the long list of the Realtor member benefits at www.car.org. I learn something new every time I peruse the web site.
The NAR Variable Dues Formula works! Those real estate licensees that do not pay Realtors dues are enjoying the benefits of Realtor membership without helping pay for or carrying the water. By the way, I was saddened to learn at our recent series of CAR/NAR meetings that we still do not have 100% compliance.
Michael Teer, Broker
Certified Residential Specialist (CRS)
Teer One Properties, Inc.
(951) 313-5168 Cell
www.miketeer.com
ProbateSoCal@gmail.com
CalBRE#: 01523582/00843708
Friday, March 8, 2013
Home Warranty for Peace of Mind
Real Estate Education Training:
Secure and Renew Your Home Warranty
Home Warranty protection is another very important option for consideration when buying your home. The costs vary on the coverage desired and it is always wise to get estimates of cost and coverage before making the investment. There are also exclusions from coverage which you should consider as well. The initial purchase cost noted for several plans would fall between $250- $400.00 for a basic warranty with varying options. This fee will cover repair and replacement of identified appliances, heating, air conditioning, garbage disposals and a host of other hiccups that could cost hundreds or even thousands of dollars. The Yellow Pages or the Internet might provide basic information and pricing on multiple Home Warranty companys. For a few tips and comparisons visit www.homewarrantyreviews.com.
Your Home warranty can be renewed annually. Offers to provide a warranty usually occurs when a home is purchased and selected during the escrow period. You can contact Home Warranty providers to purchase or renew coverage on the home you have occupied for years. By the way, the Home Warranty will generally exclude any pre existing conditions and there may be other considerations depending on the provider and coverage desired.
Home Warranty information will also explain the fee for each service call to repair or replace the covered item(s). These fees vary but expect a service call fee of around $50.00 - $75.00 plus or minus. The service call fee would be all that you would have to pay for covered repairs and/or replacement expense. Past experience relayed to me by my clients have been very positive. The client called the Home Warranty company regarding the problem and they were contacted by an approved repair company referred by the warranty provider. My clients paid the service call fee and the Home Warranty company paid all other covered costs (parts and labor).
Remember that there are multiple Home Warranty providers with an array of coverage options, initial costs and fees for service calls. These companys offer a sense of security for many of the problems you might encounter with home appliances, plumbing, heating and air conditioning units. They can really make a difference when unplanned maintenance problems impact your home.
Secure and Renew Your Home Warranty
Home Warranty protection is another very important option for consideration when buying your home. The costs vary on the coverage desired and it is always wise to get estimates of cost and coverage before making the investment. There are also exclusions from coverage which you should consider as well. The initial purchase cost noted for several plans would fall between $250- $400.00 for a basic warranty with varying options. This fee will cover repair and replacement of identified appliances, heating, air conditioning, garbage disposals and a host of other hiccups that could cost hundreds or even thousands of dollars. The Yellow Pages or the Internet might provide basic information and pricing on multiple Home Warranty companys. For a few tips and comparisons visit www.homewarrantyreviews.com.
Your Home warranty can be renewed annually. Offers to provide a warranty usually occurs when a home is purchased and selected during the escrow period. You can contact Home Warranty providers to purchase or renew coverage on the home you have occupied for years. By the way, the Home Warranty will generally exclude any pre existing conditions and there may be other considerations depending on the provider and coverage desired.
Home Warranty information will also explain the fee for each service call to repair or replace the covered item(s). These fees vary but expect a service call fee of around $50.00 - $75.00 plus or minus. The service call fee would be all that you would have to pay for covered repairs and/or replacement expense. Past experience relayed to me by my clients have been very positive. The client called the Home Warranty company regarding the problem and they were contacted by an approved repair company referred by the warranty provider. My clients paid the service call fee and the Home Warranty company paid all other covered costs (parts and labor).
Remember that there are multiple Home Warranty providers with an array of coverage options, initial costs and fees for service calls. These companys offer a sense of security for many of the problems you might encounter with home appliances, plumbing, heating and air conditioning units. They can really make a difference when unplanned maintenance problems impact your home.
Thursday, March 7, 2013
Request Move In - Move Out Inspection
Real Estate Education Training:
Document Property Condition
The California Association of Realtors (CAR) Move In - Move Out Inspection (MIMO) form provides a great starting point for tenants and landlords when beginning or ending the rental transaction. This five (5) page document allows the tenant and landlord to record the condition of the residential rental from day one. The form has three key Move In ratings of N - New, S- Satisfactory/Clean and O - Other to describe the property's condition when initiating the lease. There is also ample space for comments as well. Having a format to note the exterior and room by room interior condition helps define the property's suitability for occupancy and highlight whether immediate repairs are warranted. I highly recommend that all parties request, use and sign this form for all leases/rentals of residential properties. It is also suggested that a digital camera be used for photos of the property condition. Before and after photos will allow all parties to document pre existing conditions and capture the condition of the property after the repairs have been made.
The tenant should also be given a reasonable time to amend the MIMO after taking possession of the property. I recommend three (3) days as a reasonable amount of time after possession to add findings that may not have been visible during the initial MIMO but were discovered after living in the property. The time for adding data to the MIMO should be documented in writing as well.
The Move Out portion of the form allows all parties to note S - Satisfactory/Clean, O - Other and D- Deposit Deduction selections when the month to month tenancy or lease ends. The parties can review the initial Move In condition of the property's exterior, room by room condition (photos) and objectively determine whether there have been significant changes. Deductions for damages from the tenant deposit can be documented by the before and after condition noted in the form and photos. Estimates from two or more contractors should be secured for repairs asap after the Move Out inspection so that any funds due to the former tenant can be returned promptly after deductions for damage.
Most tenants are anxious to leave the property in good condition, as well as, pay their rents on time during the tenancy. They want a good rating for future rentals and know that a landlord with a positive experience will be a valuable reference. This form protects the conscientious tenant and the landlord. Both parties agreed on and signed the initial Move In condition and were also able to prepare and approve the Move Out condition of the property.
Document Property Condition
The California Association of Realtors (CAR) Move In - Move Out Inspection (MIMO) form provides a great starting point for tenants and landlords when beginning or ending the rental transaction. This five (5) page document allows the tenant and landlord to record the condition of the residential rental from day one. The form has three key Move In ratings of N - New, S- Satisfactory/Clean and O - Other to describe the property's condition when initiating the lease. There is also ample space for comments as well. Having a format to note the exterior and room by room interior condition helps define the property's suitability for occupancy and highlight whether immediate repairs are warranted. I highly recommend that all parties request, use and sign this form for all leases/rentals of residential properties. It is also suggested that a digital camera be used for photos of the property condition. Before and after photos will allow all parties to document pre existing conditions and capture the condition of the property after the repairs have been made.
The tenant should also be given a reasonable time to amend the MIMO after taking possession of the property. I recommend three (3) days as a reasonable amount of time after possession to add findings that may not have been visible during the initial MIMO but were discovered after living in the property. The time for adding data to the MIMO should be documented in writing as well.
The Move Out portion of the form allows all parties to note S - Satisfactory/Clean, O - Other and D- Deposit Deduction selections when the month to month tenancy or lease ends. The parties can review the initial Move In condition of the property's exterior, room by room condition (photos) and objectively determine whether there have been significant changes. Deductions for damages from the tenant deposit can be documented by the before and after condition noted in the form and photos. Estimates from two or more contractors should be secured for repairs asap after the Move Out inspection so that any funds due to the former tenant can be returned promptly after deductions for damage.
Most tenants are anxious to leave the property in good condition, as well as, pay their rents on time during the tenancy. They want a good rating for future rentals and know that a landlord with a positive experience will be a valuable reference. This form protects the conscientious tenant and the landlord. Both parties agreed on and signed the initial Move In condition and were also able to prepare and approve the Move Out condition of the property.
Sunday, March 3, 2013
Squatters or just another Distraction?
Real Estate Education Training:
Why are there Squatters?
It seems that there are a growing number of discussions regarding the increased number of Squatters in vacant home across the nation. I have had the "squatter problem" in a few Real Estate Owned (owned by banks and/or investors) properties. I would receive a "pre marketing" list of assignments for the property which included weekly visits, photos and other tasks used to report to the bank/investor regarding activity around and within the property. There were a few times when I was surprised by an occupant while taking interior photos. In most cases the "squatter" was just as shocked as I. We talked and I informed them that they should collect their belongings and leave asap. They always complied and I am truly appreciative that they left without law enforcement or court involvement. These actions are very time consuming and would have distracted me from other real estate related commitments.
Fortunately, the banks and investors at that time were asking Realtors to move the inventory as quickly as possible. This was great for all involved including buyers anxious to become home owners. A buyers tour of existing inventory was more than adequate to give the buyers an expansive selection of properties for consideration. This was also a time when appraisals and market values were often below the bank and/or investors preferred price. Over time, I began to notice a change to more cash and/or conventional buyers. FHA and VA buyers were likely to lose out to a cash/conventional buyers in situations where the condition of the property might be impacted by a low appraisal or mandatory repairs. It was a challenge for sure.
Now, we are wondering what to do about "squatters" in vacant homes nationwide that are purposely being held off the market to artificially increase prices due to short supply. A recent online discussion topic related to squatters noted all the things we as Realtors can do to deal with this problem. I am very pleased to say that I have a solution for debate that I would like to offer. First, we have to think about who loses and who benefits by our due diligence in these situations? Individual owners as opposed to bank/investor owners are just as excited about selling their property and moving on as we are and would not be thrilled about having months turn into years while we get their property sold. Individual owners were often responsible for paying their mortgages, maintaining the lawns, HOA fees and utilities. Code enforcement and other local requirements were promptly handled by the individual owners to avoid costly fines. Realtors were not expected to pay these fees and submit paperwork for reimbursement. Everyone had a stake in a fast sale.
My idea for debate is that we turn our attention and considerable resources away from fighting the "squatter problem" for banks/investors for the few crumbs we "might" receive. We deserve better. Without our industry's involvement, many local communities would come down on these banks and investor groups like a ton of bricks. The "shadow inventory" would become more visible and we could return to our time honored profession of helping our clients with a good selection of marketable properties for our FHA, VA and other buyers.
Michael Teer, Broker
Certified Residential Specialist (CRS)
Teer One Properties, Inc.
(951) 313-5168
www.miketeer.com
ProbateSoCal@gmail.com
CalBRE#: 01523582/00843708
Saturday, March 2, 2013
Are Home Inspections Worth It?
Real Estate Education Training
Should I Spend Money On an Inspection?
I had a brief conversation with a few folks at the local barbershop and one of the topics lead to the value of investing in a home inspection when buying a home. Often buyers are facing sizable down payments, recurring and non recurring closing costs. They are also thinking about all the furniture and other items needed for the home after escrow closes. Homes costing several thousand dollars can bring some pretty serious cash outlays that may stretch the buyers budget.
My comment to the group was that it would be very wise to invest a few hundred dollars towards a home inspection by a "neutral third party". I emphasis neutral third party because some of us have worked with clients that had a relative or friend who "knows everything about construction and can actually build a home from the ground up". That is admirable but the few hundred dollars saved by having the family member or friend look the home over might not equate to a professional home inspection report that the homeowner would consider very objective. It would be much better for all parties to have a report prepared by an objective and skilled home inspector.
I usually have brochures from home inspection companies around the office. I am willing to provide the buyers at least two or three of those brochures for comparison with the advice that they should talk to them all before making a selection. I also take the extra step of suggesting that they check the Yellow Pages or Internet for additional options. We do not believe it to be in our best interest to select the home inspection company for the buyer. We do believe that we should make them aware that a home inspection is in their best interest and to do everything we can to encourage their securing one. We also ask that the Buyer sign the CAR form waiving the inspection should they decide to move forward with the home purchase without having an inspection. There are default time periods in CAR forms for completing the home inspection. Be sure to convey this information and ask the buyer to move quickly towards securing the inspection.
Another benefit of the professional home inspection report is the preparation of a detailed recap of the findings including photos of the areas inspected. Most home inspectors are prepared to provide the buyer and Realtor a copy of the inspection report at the conclusion of the home inspection. I ask the buyer to attend and plan to spend at least 3 hours for the inspection. Several inspectors provide Portable Document Format (pdf) inspection reports which are especially convenient. This really helps when there is a need to share the results with a transaction coordinator, cooperating Broker or others.
Finally, I always secure the buyers permission to share the pdf home inspection report with the cooperating Realtor along with a list of any repair requests by the Buyer for the Seller to consider. The old "a picture is worth a thousand words" definitely applies when obvious problems exist. The inspection report with photos often strengthen the buyers request for repairs or replacement of missing items in the home. The Sellers Realtor knows that there may be an appraisal report that might note some of the same defects found by the home inspector. Lenders might require repairs before approving and funding the loan.
It is better to spend a few hundred dollars to know the condition of the home as opposed to investing thousands of dollars to learn that major repairs are needed after close of escrow.
Michael Teer, Broker
Certified Residential Specialist (CRS)
Teer One Properties, Inc.
(951) 313-5168 Cell
www.miketeer.com
ProbateSoCal@gmail.com
CalBRE#: 01523582/00843708
Should I Spend Money On an Inspection?
I had a brief conversation with a few folks at the local barbershop and one of the topics lead to the value of investing in a home inspection when buying a home. Often buyers are facing sizable down payments, recurring and non recurring closing costs. They are also thinking about all the furniture and other items needed for the home after escrow closes. Homes costing several thousand dollars can bring some pretty serious cash outlays that may stretch the buyers budget.
My comment to the group was that it would be very wise to invest a few hundred dollars towards a home inspection by a "neutral third party". I emphasis neutral third party because some of us have worked with clients that had a relative or friend who "knows everything about construction and can actually build a home from the ground up". That is admirable but the few hundred dollars saved by having the family member or friend look the home over might not equate to a professional home inspection report that the homeowner would consider very objective. It would be much better for all parties to have a report prepared by an objective and skilled home inspector.
I usually have brochures from home inspection companies around the office. I am willing to provide the buyers at least two or three of those brochures for comparison with the advice that they should talk to them all before making a selection. I also take the extra step of suggesting that they check the Yellow Pages or Internet for additional options. We do not believe it to be in our best interest to select the home inspection company for the buyer. We do believe that we should make them aware that a home inspection is in their best interest and to do everything we can to encourage their securing one. We also ask that the Buyer sign the CAR form waiving the inspection should they decide to move forward with the home purchase without having an inspection. There are default time periods in CAR forms for completing the home inspection. Be sure to convey this information and ask the buyer to move quickly towards securing the inspection.
Another benefit of the professional home inspection report is the preparation of a detailed recap of the findings including photos of the areas inspected. Most home inspectors are prepared to provide the buyer and Realtor a copy of the inspection report at the conclusion of the home inspection. I ask the buyer to attend and plan to spend at least 3 hours for the inspection. Several inspectors provide Portable Document Format (pdf) inspection reports which are especially convenient. This really helps when there is a need to share the results with a transaction coordinator, cooperating Broker or others.
Finally, I always secure the buyers permission to share the pdf home inspection report with the cooperating Realtor along with a list of any repair requests by the Buyer for the Seller to consider. The old "a picture is worth a thousand words" definitely applies when obvious problems exist. The inspection report with photos often strengthen the buyers request for repairs or replacement of missing items in the home. The Sellers Realtor knows that there may be an appraisal report that might note some of the same defects found by the home inspector. Lenders might require repairs before approving and funding the loan.
It is better to spend a few hundred dollars to know the condition of the home as opposed to investing thousands of dollars to learn that major repairs are needed after close of escrow.
Michael Teer, Broker
Certified Residential Specialist (CRS)
Teer One Properties, Inc.
(951) 313-5168 Cell
www.miketeer.com
ProbateSoCal@gmail.com
CalBRE#: 01523582/00843708
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