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Back when the market was smoking hot, sellers wanted their agents to hold open houses to bring in the buyers.

Well now the market is smoking hot again, but for different people. With the flood of foreclosures on the market, the banks are the sellers and they are looking for buyers. We may not have the pressure from them to hold open houses, but to gain prospects, open houses are a great tool.

Even if you don’t have a listing to show as an open house, ask another agent if you can hold their listing open.

You’ll have a flood of potential buyers at your fingertips that you can match with other properties and prospect.

Have a simple information card that they fill out so that you can contact them later.

Try it a few times. You’ll be surprised at how many prospects you can gain.

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Mike Zagaris has been talking about it since this market cycle began. The foreclosure crisis has been a bane to some, and a boon to others. However, “We’ve found the bottom,” Zagaris said. “The financial institutions have seen the light and are allowing the market to find its own level.” Banks are moving their inventory of foreclosed upon houses, bringing qualified homeowners into the market with heavily discounted properties and sound lending strategies amidst great interest rates.

At PMZ Real Estate, we’ve seen the bottom in our rear view mirror and we’re riding the wave back to the top. Bloomberg points out in there most recent Exclusive story, California’s Discount Foreclosure Sales Point to Housing Bottom, that there are, indeed, good times coming and that there is opportunity available now in the housing market.

Right now there is EXCELLENT opportunity for homebuyers and investors. Home prices are on an average discount of 30-40% according to Bloomberg. Even with the bidding wars going on with foreclosed properties, people are still walking away with huge discounts on the properties they purchase. And, interest rates are still attractive; no where near the 14% they were in the 80’s.

Interested in learning more? Check out the Bloomberg article for an even more informative look at where the housing market is taking us.

The Nehemiah down payment assistance program is a non-profit organization that has helped thousands of families, without the upfront cash to buy a home, make their home ownership dreams come true by gifting down payment and closing costs.

According to Nehemia’s website, the Department of Housing and Urban Development said that such down-payment systems will no longer be allowed after October 1st, 2008.

You can help keep this program alive for yourself and others by clicking this link. You’ll find a simple form where you can share your story on how Nehemiah has helped you (or would help others). The letter is then delivered to key members of the legislature and to the housing department.

Moving to a place down the block, to another city or another state can be stressful. In many ways, your pets can react to moving in the same way humans do. It is a stressful time for them too. Here are some helpful tips to keep in mind while moving yourself and your pet.

• Make sure your pet has a check-up with your vet and ask the veterinarian if they know of any diseases that your pet might be at risk for in the area you are moving to.
• Pack your pet’s medical history.
• Pack your pet’s toys, food dishes, blankets, etc in the same box for quick access.
• If you have a smaller animal that lives in a cage (like a snake, hamster or bird), keep it in there during the move, take out anything that might tumble around and injure your pet, and cover it with a blanket so they don’t become overstimulated with new scenery.
• If you’re traveling, never leave your pets alone in the car with your windows up.
• Don’t wash your pets favorite blanket or pillow during a move. This allows them to have a familiar scent in their new home.
• Let your pet stretch and relax as soon as you can, and walk them around the property so they are familiar with their boundaries.

When Michele Alvarez designs a model home, she strives for that swept away feeling of comfort and serenity.

Casting aside influences that are dark and heavy, Alvarez instead selects colors, furnishings and accessories that are soft and simple.

Whether it’s outfitting a welcoming front porch, dressing up a formal dining area or blending an upstairs landing into a hard-working home office, the Design Center manager for Beazer Homes aims for the “I could easily live here” takeaway from home buyers.

“For those seeking inspiration, builder model homes can offer a plethora of ideas,” said Alvarez. “While shelter magazines and television decorating shows may be insightful into how a room evolves, a model home tour adds the ‘wow’ factor by bringing the entire home to life.”

As the summer heats up, top-10 national homebuilder Beazer will see a stream of traffic through hundreds of model homes across the country. From potential buyers in search of the right home in the right school district to would-be decorators taking in fresh ideas, model townhouses and single-family homes will get the critical eye.

National homebuilders oftentimes have a designer on hand who can help with choosing colors in everything from the paint to the floor to the cabinetry to help buyers get the model home look. For others who want it now, Alvarez offers the following tips to get started:

Read the rest of this entry »

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Those who want to save energy and live a more eco-friendly lifestyle can look close to home to cut back on power bills.

Here are some tips from Tony Callahan, senior vice president for Beazer Homes, to get you started.

Change filters. Replace your air filter regularly and tune up HVAC equipment yearly. A programmable thermostat will allow you to set the temperature according to your schedule.

Seal gaps. Repair or replace weather stripping on doors and windows, using caulk if necessary to get a tight seal.

Use CFLs. About 10 percent of electric bills come from lighting, and compact fluorescent bulbs are good to use in areas where lights are on for hours at a time.

Water works. Reduce water and the energy used to heat it with new water-saving showerheads and sink faucets.

Check your fridge. Replacing a refrigerator bought in 1990 with a new Energy Star model will save enough energy to light the average home for nearly four months.

I was reading the Realtor.org Newsletter and there was a piece on marketing ideas that will “get you noticed.” Here is one that I thought was especially helpful and very important:

Customers don’t care much about marketing that tells them you’re in the million dollar club, how long you’ve been in the business, and other “me” types of promotion, Watson said. They care about how you can help them. So statements like “I sold 200 units this year” would have more impact if you said “I helped 200 families move into new homes.” Also, use words to your advantage. For example, when you tell customers that they will be working with your “assistant,” it makes it sound like you are passing them off to someone insignificant, Watson said. Instead, call your assistant a “specialist” or “partner.” Also, use the word “bought” in replace of “sold” and “new price” instead of “price reduced.”

Now that the market is ripe with foreclosures and other bank owned property, we want to take a moment just to clarify what a short sale really is.

What is a short sale?
To sum it up quickly and concisely, a short sale is a situation in which the lender allows a property to be sold for less than the amount owed on a mortgage and takes a loss.

How does it benefit the homeowner?
After submitting thorough documentation, including, but not limited to:

• W-2 and pay stubs to verify income
• Bank statements to assess assets and financial situation
• Hardship Letter to explain why the bank should consider your property for a short sale

the bank may consider a short sale. The process can help keep the homeowner out of bankruptcy and save their credit rating.

The house will be sold and the difference between what you owe the bank and what the bank received on the sale will either be written off or the seller will be responsible for it.

NOTE: It is important to understand that if the bank writes of the difference, they will more than likely report it as 1099 income for the seller. This could adversely effect the seller’s tax liability.  Speak to a tax professional.  Remember, just because they write it off, doesn’t mean it disappears.

For an even more thorough look at short sales, check out the resources below:

The Definitive Short Sale Article

Short Sale (Real Estate) - Wikipedia

Everyone loves the smell of fresh baked cookies.  How about replicating that smell for each of your open houses, without having to bake any?
Place a couple of drops of vanilla extract in the oven and crank it to low. Try it out!

One man thinks so, and a lot of other real estate professionals might agree. Especially tech savvy ones.

Galen Ward posted a blog entry regarding Trulia’s so-called “underhanded” SEO (search engine optimization practices). In most geographic areas a search for “san francisco real estate” for example will pull up Trulia’s website as the first result, burrying other relevant local real estate companies websites. Ward believes this to be unfair.

One of his very valid beefs is that Trulia makes links to your website on their website, no-follow links. This means that search engines like Google and Yahoo will ignore linking to your website, losing out on precious SEO ranking.

While it is more than likely not the case that Trulia wants to destroy your website ranking, they definitely do want to rank number one. Are you getting what you expected from your relationship with Trulia?

Also, take a look at how they optimize their website. Talk to your IT administrator to see if you can do the same. A couple things that I have noticed that would really make a difference in a real estate websites rankings is having a landing page for each city that you do business in. Also make the URL for that city search engine friendly, ie: http://www.pmz.com/modesto/ca/real-estate/ or http://www.pmz.com/stockton/ca/real-estate/. For each of those landing pages, in the title and metadescription, include something like, “Modesto Real Estate & Modesto Homes for Sale” to make it more relevant to your geographical area. That’s really just the beginning.