This house is listed for $1,340,000. Do these pictures do the listing justice? When most buyers start their search for a home on-line, good quality pictures are extremely important. They could be the difference between someone calling to schedule a showing or moving on to the next house for sale.
According to the Mortgage Bankers Association, new record low mortgage rates caused refinancing activity to increase by 21% last week. Applications for new mortgages were down 8.5%, mainly due to the more stringent requirements for FHA mortgages that took effect on October 4.
The recent decision by some banks to freeze their foreclosure process while they investigate their procedures for handling foreclosures has a mixed effect on South Florida’s real estate market. While it may be a good thing for distressed owners who really want to keep their homes, it is probably not a great thing for current buyers and the overall real estate market. The reality of too many homeowners who bought at the height of the market, owners who are currently underwater, unemployed, or simply bought way more house than they could afford when banks were in a lending frenzy, means the majority of homes in foreclosure now probably will still be there at the end of the investigation. Yes, there are stories of homes foreclosed improperly, including that of an owner who had paid cash on the house, and many of the banks and their foreclosure attorneys have become mills that may have filed paperwork incorrectly or downright fraudulently (this is the fraud capital of the United States, unfortunately). These procedures should be investigated, stopped and punished. In the meantime, buyers who are currently under contract are in limbo and the real estate market, which has been slogging through high inventories, may slow since approximately 40% of the home sales in South Florida are made up of bank-owned properties.
I would think that in today’s economy everyone would be striving to perfect the art of customer service. I rely 100% on referrals for obtaining listings and buyers and know one of the reasons I do well is because I strive to provide great customer service. I have had two experiences lately where customer service was not bad, it was absolutely non-existent. In the first one, I contacted several pool companies to give me an estimate on diamond-briting my pool. Out of the three companies that I contacted, only one came by and followed up with a quote and a phone call to see if I had any questions regarding the quote. I contacted one of the companies again, only because they are well known and I figured anyone can make a mistake, and they stood me up for a second time. Sorry, but if I have to work that hard to give you work, I can’t imagine how hard I will have to work once you have my deposit.
The second instance is actually with a company I recommended to a client. I had referred this company before with rave reviews. This time however, my buyer is completely unhappy because a project that should have taken 3 weeks has taken two months, she tries to get people out to the house to finish the work, they set a date and time, don’t call or show up, and no one in the company has called to follow up, apologize or explain the delays. My client is patient and understanding, but the lack of communication has led to her frustration. To stress how important customer service is: in this case, I was at a gym class today and someone asked the group where my client was. Several women started saying that she was having nothing but problems with the house (I sold it to her) because of the company installing the windows (I recommended the company). One woman asked, “What is the name of the company so I can avoid them”? Imagine if my client had been happy with her windows. Instead of having 8 women who will avoid this company like the plague, they would have been referring them instead! In addition, I will no longer feel comfortable referring this company, as it has affected my reputation as well. So instead of taking Yosemite Sam’s view of complaints, use them to perfect your customer service.
Yesterday was my tech meltdown day. I am a people person, but I have been buying all of the latest gadgets to simplify my life. I use my iPhone 4G for giving “live” walk-throughs of properties for my customers; an iPad to show comparable properties to buyers and sellers and make presentations on the fly; and a computer for e-mailing, blogging, preparing mailers and flyers etc. Yesterday, my phone froze up completely and wouldn’t hold a charge and my e-mail was so full it would not let me send e-mails out and actually required my contacting tech support (of course it was after 6 pm). So, for what I needed yesterday, all of my technology was useless.
After a brief freak-out on how dependent I have become on technology, I went back to the basics and printed out hard copies of the lease and sale and purchase contract I was preparing and hand-delivered them to my customers. I really like what technology can do to help me make my job easier, but nothing beats the face-to-face meeting and conversations!
Not a surprising trend considering the unemployment rate and related decrease in consumer spending.
The new “AS IS” contract has changed to clarify areas that were vague in the previous contract. These clarifications include, but are not limited to:
Overall, these changes help both the Buyer and Seller by setting the expectations for each party. Let me know if you would like a copy of the new “AS-IS” contract. For clarification of the contract and legal opinions, please contact your attorney.
With the assistance and support of Village of Pinecrest Mayor, Cindy Lerner, and Miami-Dade County Public School Board Member, Larry Feldman, two elementary schools in the Village of Pinecrest are participating in an e-technology pilot program. The schools are using clickers, to engage students in learning and increase the tools teachers have to provide the students with up to the minute information, lesson plans and to make the classroom experience interactive.
When my kids were in middle school years ago, I remember the introduction of Smart Boards and being concerned that technology would take the place of text books. The media specialist at Palmetto Middle School pointed out that Smart Boards and other forms of technology were important to keep the students engaged, since they were raised with technology and that was their method of learning. After watching my son learn how to make fishing flies, paint, and increase his lacrosse skills on-line, I have to admit that technology in classrooms is the way of the future. Kudos to the Village of Pinecrest for recognizing this and moving forward.
The other day I was heading back to the office and I was starving so I pulled into a gas station that I knew had awesome sandwiches. Guess I haven’t been in there for a really long time because when I walked in, there was wine everywhere and the back of the gas station had been converted into a mini “taverna”, called El Carajo, complete with a wine bar and small wooden tables. Since I was starving, I ordered a bunch of tapas to go: Tortilla de Chorizo, Croquetas de Bacalao, and Boquerones. They were all delicious and I had enough to snack on later that evening and the next day. I only wish I hadn’t had to go back to work so I could have done some wine tasting. They had an amazing selection and very reasonable prices. I will definitely be back.
Just heading back from Charlotte, North Carolina, where the real estate market is still really slow. This 1993-built, 1472 square foot, 3 bedroom 2.5 bath, pool home in a neighborhood close to an amusement park, shopping and downtown is being offered at $164,900, which is less than the the median home price in Miami-Dade, ($182,900 in August, 2010). Although the pricing is lower than our median price, they have had very few showings since it was listed. For the most part, single family houses in Miami-Dade under $300,000 are selling fast and with multiple offers. There are currently only 74 active listings in Miami-Dade on the MLS that were built in 1993 or later, with 3 bedrooms 2.5 baths, under $200,000.