Monday, December 01, 2008

INTERVIEW YOUR REALTOR!!!


Let's face it, there are a lot of Realtors out there - some much, much, much better than others. Most people know a Realtor or know someone who knows a Realtor and they just go with them - whether or not that agent is a good fit. Make sure it's a good fit - INTERVIEW YOUR REALTOR!!!

Generally when a seller hires a Realtor, the Realtor performs a market analysis. Besides providing information about the pricing of the home, the Realtor should review how they will market the home. Typically more than one Realtor does a market analysis - so you've made a decent effort at an interview process. Here are some things you can ask (though the agent should cover these things while presenting the market analysis):

1. How long have you been a licensed realtor or real-estate agent?
2. How far does your area extend?
3. Do you live in the area?
4. How many homes have you sold in the past year?
5. What services can you provide, specifically, in terms of marketing my home? (flyers, ads, open houses, etc.)
6. What other services or individuals can you recommend to assist in preparing my home for sale? (repair people, gardeners, painters)
7. How quickly will my home appear in the MLS? How quickly will the photos be added after it goes online?
8. What is the average number of visitors you expect to get through my home?
9. How long do you expect my home to be on the market? Why?
10. How will you go about setting the price of my home?

One extra step I wish more sellers would take is to look at listings online that a Realtor has. What you can see online might shock you - misspelled words in the description and a lack of photos or worse yet - BAD PHOTOS!! There are so many bad photos out there that people have made websites dedicated to actual real estate photos.

Because of the market analysis process, most sellers interview their future Realtor. Very few buyers (especially first time buyers) interview their future Realtor though. You want to hire someone with experience and ability, but you want someone who you can get along with. Beyond that, first time buyers might need someone who can take more time explaining the process and setting some expectations. Here are some questions that perspective buyers recently asked me:

1. Are you a full-time agent?
2. Whom do you represent (buyer or seller)?
3. What is your office size, support staff, etc. ?
4. How long have you been an agent?
5. Do you have a salesperson’s license or a broker’s license?
6. Do you hold any professional designations? Any courses/classes taken recently? How do you stay current?
7. What is your understanding of my home buying needs?
8. What do you think of the other agents I am interviewing?
9. How many buyers or sellers are representing at this time?
10. Do you work in partnership or use assistants?
11. Can you provide references?
12. Could you provide us an activity report for the last 12 months – concentrating on the areas we are interested in?

  • Property address?

  • Property type?

  • Sales price?

  • Date of sale?

  • Was the buyer or the seller represented?

13. What was the total dollar value of the property sold during the preceding 12 months?

Another question for both buyers and sellers in regards to an agent with a "Team" is - Who will I work with? You might be hiring the super star Realtor in your area, but never look at a house or negotiate an offer with that Realtor, instead you get assigned to their less experienced underling.
In the end you want someone who you're comfortable with. Comfortable that they'll do a good job for you and comfortable with their personality. You're going to be spending a significant amount of time with your Realtor, you should be confident that they're the right person for the job.

I'm confident in my skills and I'm happy to compete for your business.

Thursday, November 27, 2008

Interest Rate Update

Wow, the bond market is soaring with the news Tuesday from the Federal Reserve. The Fed announced that it will initiate a program to purchase toxic mortgages from Government Sponsored Enterprises (Fannie Mae, Freddie Mac, and the Federal Home Loan Banks). Purchases of up to $100 Billion in GSE direct obligations under the program will begin next week. Purchases of up to $500 Billion in Mortgage Backed Securities will be conducted with the goal of beginning these purchases before year-end. The ten year treasury just went under 3% today. Last time it was there might have been in the 1950’s. So rates are now in the 5.25 – 5.375% range. The question is ~ for how long? Usually these events have a short life span. So here is something to keep in mind:

a 1% rate drop equates to around a 10% payment drop for a buyer.

If you are on the fence, this could be the push you've been waiting for.

Tuesday, October 21, 2008

Perception vs. Reality

Between the media and campaign commercials we keep hearing that banks are in rough shape. There's no doubt that there are some serious economic problems going on - but many people have the Perception that it's impossible to gt a loan right now. The Reality is that there is plenty of money available for loans. People who could get a loan 6 months ago can still get a loan - and interest rates are better! Rather than assuming you can't get a loan, talk to a quality lender and take advantage of this STRONG buyers market! Don't know a quality lender? Get in touch and I can point you in the right direction.

Monday, October 13, 2008

Over 6 months without an update - WEAK!!! What can I say. I am actually busy - people really are buying and selling places. First time buyers, take note - this is a GREAT time to buy.

I'll ease back into this buy updating my, "bands I've worked with" list.

The Action Slacks
Amp 176

A Summary Execution
Attention
Autumn Leaves
Bellwether
Betty Gone Bad
Billingsgate
Bloodline
Bodies Lay Broken
Bombsite
Cliffhanger
Code 13
Complete Waste
Condominium
Damage Deposit

The Deaf
Defect
Del Toro
Destroy
Dillinger Four
Dink
Dog Day
Elks
Flounder
Formaldehyde Junkies

The Great Depression
Killsadie
Half Fiction

The Hang Ups
Hello Lonely
High Steppin' Nickle Kids
Holding On
The Holy Ghostriders
The Hoolies
Hope You Choke

The Hot
Icepick
The Legendary Jim Ruiz Group
Listen Up!

Martyr A.D.

Matt Marka
Menstrual Tramps
Model Children
Motion City Soundtrack
Naked Bob
Oswald Armageddon
Pandamonium
Pilot
The Real Enemy

Regret
Saddest Girls Story
Season of Fire
The Stereo
Stockpile
Three Minute Access
Teenage Remains
Unavowed
Working Classless

Monday, March 31, 2008

Erik and Gretchen Funk Interview



Erik is in Dillinger Four, he and his wife Gretchen own the Triple Rock Social Club - the BEST venue in the Twin Cities for seeing shows, eating 'Po Boys and drinking too much. Here is a little interview with the the two of them.

Hey Erik and Gretchen, it's been a year now since you've moved into your new place, after living in your last house for nearly 10 years - does this feel like home yet?
Gretchen: yep, it really is starting to. The neighbors are great, and we feel really comfortable, so that helps. Every bit of work we do on it just makes it feel more like ours!

Erik: For me it did pretty much right away.

The home you bought had gone into foreclosure - how was that experience from your perspective?
G: I thought it was really scary buying a house through foreclosure at first. I mean it had been left alone for what? Two years? That’s crazy. And who knows what was wrong with it. And there were no guarantees. Scary stuff. We had an inspection though, and really went through the house one more time, which always makes you feel more certain. We got really lucky too though, it turned out to be a real diamond in the rough.
E: The most frustrating thing was the wait time on responses back from the bank. The red tape at the bank really slowed things down.
What sort of projects have you taken on for this new house and what's planned in the future?
G and E: Well, we have painted just about every surface that will hold still. And put in a few new windows. We’re having the basement redone right now, like right now, like there is a guy hammering right now. Then I guess in the next year maybe we will address the garage? We’re not fans of moving the car for snow emergencies.
Was it tough for you guys to sell your first home - emotional attachment?
G: I was really surprised at how easy it was actually. We did not change neighborhoods, so everything is still familiar, that might have helped.
E: I agree, we were there for a long time and totally ready to move on.
Initially you were thinking of selling your home without a Realtor - what made you change your mind?
G: Well, knowing you… That helped. Because I’m not sure we would have worked with another realtor. I think 10 years ago, when the market was really different, it was a valid option. Now though, well, I think people are so wary of things, cautious. In a buyers market, people want to get the best. I’m not sure a hand written sign saying “for sale by owner” instills confidence. “Guaranteed by realtor” says be confident. It’s the edge you need right now.
E: When I looked at the online services available, saving a few bucks seemed attractive, but we decided it was more important to have a professional advising us and working on our behalf to make sure the house sold in a tough market.


What's going on with the D4? I'm sure you never get sick of people asking "Are you going to record something soon?"
G: nope, I never get sick of that question.
With all these reunions going on - is there a Billingsgate show on the horizon?
E: no, I lost touch with all those guys years ago. But I will gladly come over to your house and jam those records anytime. We were awesome.



How did the process of buying the Triple Rock differ from buying a home?
G: So much more debt!!! You can’t ask Erik, he was in Japan. It was possibly the most nerve wracking week of my life and I think I have blocked it out of my mind.
The home stuff was fun!
E: I was in Japan for the actual closing. Buying a house there are tons of options. Buying a bar, you may only see a few options a year that could work for you. So you have to move really fast.
What have been some of the highlights for you with the Triple Rock? And what are some of the frustrations of running the bar/venue?
G: Highlights: All the French fries you can eat. And we have a kick ass staff. Not working for someone else.
Frustrations: Insurance and liability, drunk people.
E: Highlights: Pride of keeping it going for ten years. Seeing some of my favorite bands in my own place. Lots of time to golf
Frustrations: Not enough time to golf. Finding out some of my favorite bands are jerks. The usual struggles of keeping a small business afloat.

You guys are both avid golfers (ok, Erik might be more obsessive than avid) what's punk rock about golf and who is the best punk golfer you know?
G: Steve, you have seen me golf. I’m not sure when you decided you could use the word “avid” with me. There is nothing punk rock about the way I suck at golf.
E:I agree that there is nothing punk rock about golf. I have not actually seen him play, but I have heard Fat Mike from NOFX is quite a golfer.

Pete from Holding On first dropped the bomb that they'd be playing a reunion show on this website - anything you want to shock the world with?
Nothing to report on this end.
The Holding On show is coming up though!
April, 25 2008 at Triple Rock
w/ Modern Life Is War (and Pandamonium!)
http://www.triplerocksocialclub.com/


Tuesday, February 26, 2008

CARCASS!!!

check out the trailer from 'The Pathologist's Report' DVD


The reformed Carcass have confirmed the following festivals this year:

Jun 06 2008 Sweden Rock Festival
Jun 20 2008 Hellfest (France)
Jun 27 2008 Tuska Open Air (Finland)
Jun 28 2008 Gods Of Metal Festival (Italy)
Aug 02 2008 Wacken Open Air (Germany)
Aug 29 2008 Hole In The Sky (Norway)

- let's hope these go well and there is a US Tour to come.

Tuesday, February 12, 2008

The State - of Real Estate 2008

We’re still hearing how the market has tanked. The media loves to present the doom and gloom. We are experiencing the natural cycle of a market - of course we couldn't have maintained double digit appreciation forever. Greedy lenders (coupled with ill-informed borrowers) and overly aggressive builders didn't help either - it was like a perfect storm for the market to slow.
No Illusions. The truth remains that this could be the best time in years to buy home – interest rates are lower than they’ve been in years and home prices are very competitive. Have things slowed down? Absolutely, it has definitely shifted to a buyers market. However there are great opportunities for a buyer looking for a first home and a seller could come out well ahead if they are looking to upgrade. The money saved on a discounted new house could make up for any reduced profit earned on the sale of a current home.