ADDvantage's Real Estate and Flat Fee MLS Hot Topics Blog

New EPA Rule Goes Into Effect April 2010- Lead Based Paint

Wed, 28 Jul 2010 15:13:31 -0400

I think this is an issue that is important to people, especially with children regarding the dangers of Lead based Paint. As I hand out Lead based paint addendums to buyers/sellers and tenants, the danger is slight, but be aware if you start remodeling such as sanding or demolishing walls you should take precautions.

EPA's Lead Paint Rule

The U.S. Environmental Protection Agency's Lead: Renovation, Repair and Painting rule governing the work of professional remodelers in homes where there is lead-based paint took effect April 22, 2010.

The rule addresses remodeling and renovation projects disturbing more than six square feet of potentially contaminated painted surfaces for all residential and multifamily structures built prior to 1978 that are inhabited or frequented by pregnant women and children under the age of six.

It requires a cleaning inspection after the work is completed and grants the remodeler flexibility in determining the size of the work area, which can reduce the size of the area subject to containment.

The EPA rule also lists prohibited work practices ? including open-torch burning and using high-heat guns and high-speed equipment such as grinders and sanders unless equipped with a HEPA filter.

Additionally, the rule establishes required lead-safe work practices, including posting warning signs for occupants and visitors; using disposable plastic drop cloths; cleaning the work area with HEPA vacuuming and wet washing; and individual certification through a training course.

The full rule and brochures for consumers and renovators can be downloaded from the EPA’s Web site.

A 2006 NAHB study on lead-safe work practices showed that a home was better off after a remodel than before, as long as the work was performed by trained remodelers who clean the work area with HEPA-equipped vacuums, wet washing and disposable drop cloths.

Summary of the Rule

Review the points below for a quick summary of the new EPA lead paint rule.

1. Training and Certification

Beginning in April 2010, firms working in pre-1978 homes will need to be certified. Firms need to complete the application for certification and submit a fee of $300 to the EPA.

Along with the firm certification, an employee will also need to be certified as a Certified Renovator. This employee will be responsible for training other employees and overseeing work practices and cleaning. The training curriculum is an eight-hour class with two hours of hands-on training. Find an approved trainer by search the directory of EPA-approved training providers.

Both the firm and Certified Renovator certifications are valid for five years. A Certified Renovator must take a four-hour refresher course to be recertified.

Learn more about the responsibilities of a certified firm and certified renovator.

2. Work Practices

Once work starts on a pre-1978 renovation, the Certified Renovator has a number of responsibilities. Before the work starts this person will post warning signs outside the work area and supervise setting up containment to prevent spreading dust. The rule lists specific containment procedures for both interior and exterior projects. It forbids certain work practices including open flame or torch burning, use of a heat gun that exceeds 1100°F, and high-speed sanding and grinding unless the tool is equipped with a HEPA exhaust control. Once the work is completed, the regulation specifies cleaning and waste disposal procedures. Clean up procedures must be supervised by a certified renovator.

3. Verification and Record Keeping

After clean up is complete the certified renovator must verify the cleaning by matching a cleaning cloth with an EPA verification card. If the cloth appears dirtier or darker than the card the cleaning must be repeated.

A complete file of records on the project must be kept by the certified renovator for three years. These records include, but aren't limited to: verification of owner/occupant receipt of the Renovate Right pamphlet or attempt to inform, documentation of work practices, Certified Renovator certification, and proof of worker training. NAHB believes that record keeping will be a major enforcement tool for the regulation.

Beginning in July, remodelers are required by EPA to share a copy of records developed under rule requirements with the customer withing 30 days of completing the remodeling work.

4. Exemptions

It is important to note that these work practices may be waived under these conditions:

The home or child occupied facility was built after 1978.
The repairs are minor, with interior work disturbing less than six square feetor exteriors disturbing less than 20 square feet being exempt.
The homeowner may also opt out by signing a waiver if there are no children under age six frequently visiting the property, no one in the home is pregnant, or the property is not a child-occupied facility. The EPA has released an amendment to the rule that revokes the opt-out waiver. This change is expected to take effect in early July. Learn more about changes to the rule.
If the house or components test lead free by a Certified Risk Assessor, Lead Inspector or Certified Renovator

EPA Delays Enforcement on Rule Training and Certification

The U.S. Environmental Protection Agency has delayed enforcement actions regarding training and firm certification requirements against remodelers under the Lead: Renovation, Repair, and Painting rule until October 1.

The EPA released the enforcement delay memo on June 18, explaining that contractors who have enrolled in Certified Renovator training with an EPA-approved training provider by September 30 will not face enforcement, as long as the training is completed by December 30.

However, the EPA will continue to enforce against violations of the work practices stipulated in the rule. Remodelers will still need to give consumers the pre-renovation pamphlet (Renovate Right), set up containment, avoid prohibited practices, conduct cleaning, and complete cleaning verification.

This delay of enforcement is a win for NAHB because it had long contended the EPA lacked enough trainers nationwide to prepare remodelers for the regulation and had failed to implement an awareness plan to remodelers about the rule. NAHB had sent letters to EPA requesting enforcement delay and spoke to members of Congress about problems with the rule implementation. The memo acknowledges that the EPA created the delay due to concerns raised by the regulated community.

Read the full enforcement delay memo.

NAHB also released a press release applauding the EPA's decision to delay enforcement of the lead rule.

Remodelers can search for an EPA-approved training provider or can contact their local home builders association to find Certified Renovator training sessions.

Remodeling firms must also become EPA-certified by submitting a form and $300 fee

Whether I represent the seller, buyer, or I am a transaction broker for my flat fee MLS service, I am a "professional messenger", not Superman

Mon, 26 Jul 2010 10:29:53 -0400

My story today is about why some buyer's agents, don't get their jobs. Seems too many buyer's agent seem to believe that when they offer advice to their buyers about making an offer they seem to put the superman cape on and go on a mission of making offers that are unrealistic and are not in the best interest of their buyer.

Just last week, an offer came in on one our flat fee MLS listings where I do the negotiating. We call this type of listing an ADDvantage Success™ listing because I represent the by owner MLS seller from contract-to-close.

This Realtor, a buyer's agent, called and said an offer was coming. I said great! I quickly asked the agent how much the offer was for. She replied $710,000. I quickly looked at the listing on our system and noticed our listed price was about $770,000. I then asked the Realtor what she thought the "BPO" (which stands for Broker's Price Opinion or fast sale value) was for this listing. She replied $740,000. The reason I asked this question was to catch the buyer's agent "off-guard" and attempt to find out some valuable information to pass along to my ADDvantage Success™ seller.

This BPO statement means if the sale was a short-sale (which it wasn't) you would pursue offers around $740,000 to present to the seller because ultimately the lender decides on whether or not to take the deal. A short sale takes anywhere from 70-110 days to close. Straight-sales (listings that are not short-sales), such as this listing, have more value because a buyer can close and move-in as fast as 20 days if a cash buyer or 45 days if a mortgage contingency. My point is this buyer's agent opinion of value was $740,000 but we were unsuccessful getting this deal done even at $740,000 because I believe too many buyer's agents paint unrealistic expectations for their buyer's about value. Value is in the eyes of the buyer, not the buyer's agent!

While I am predominately a flat fee MLS listing broker, I do work with many buyers throughout Florida because our website GetMoreOffers.com has become a prolific website for buyers. I am successful working with buyers in many cities, not just Tampa Bay where my office is located. I have short-sales pending in Miami for over $3,000,000, short-sales in Orlando for $250,000 and $310,000 and many more. I know my responsibility to these buyers and sellers. I am an "expert messenger". I list properties, I show properties, and I unlock doors and listen to my buyers. And yes, I know value. A CMA (comparable market analysis) is not the only way to gauge value.

Ultimately, very deal must get through appraisal. Whether I represent the seller, buyer or I am a transaction broker for my flat fee MLS service, I am a "professional messenger", not Superman.

Call me anytime, 8:00am-8:00pm 7 days a week. 727-942-2929.

What are the benefits of ADDvanatge Flat Fee MLS?

Wed, 16 Jun 2010 19:13:29 -0400

Wesley Chapel by-owners are using flat fee listings to gain a competitive advantage.

ADDvantage® now makes it simple to understand how flat fee listing works by watching our flat fee MLS videos.

In today’s price driven real estate market, every penny counts these days and ADDvantage® is leading the way on this cost saving campaign by offering the best by-owner flat fee MLS listing service.

ADDvantage® holds direct MLS membership with 28 Florida Realtor Associations from Ft. Myers, Ft. Lauderdale, Orlando, Florida Keys, Marco Island, Ocala, Jacksonville, Tallahassee, The Pan Handle, Bradenton, Tampa, St. Pete, Clearwater, Gainesville, Naples, Boca and just about every small Florida city in between.

Listing Flat fee in the MLS has grown in popularity because sellers save 50% in commissions without sacrificing marketing or service. We offer the best live phone support and superior Internet marketing so selling your Florida home is easy and cost effective. ADDvantage® has been working overtime for years earning the respect of fellow Realtors and by-owners throughout Florida.

In today’s price driven buyer’s market, sellers must sell and compete along side short sales and bank owned properties. Lower sales commissions are an excellent starting point to get noticed and sold faster. ADDvantage® has done a great job in Florida for by-owners

When listing Flat Fee MLS, Wesley Chapel by-owners only pay a commission to buyer’s agents. If you sell without a Realtor, no commission is due. Our basic 9 month flat fee listing is just $349 which includes a listing in Mid-Florida Regional.

With flat fee MLS, there is no binding listing agreement and you can cancel anytime, with a moments notice and without a fee or penalty.

Our Internet marketing is superior and we will list your home, condo, commercial property or vacant land on hundreds of sites such as MSN, homes.com, Craigslist, AOL, Realtor.com, getmoreoffers, Bargain Network, Yahoo and many more.

Our service commitment to our Orlando by owners makes ADDvantage® your best partner in Florida to list flat fee in the MLS. We offer the most reliable live phone support from 8:00am and to 8:00pm every day o the week including Saturday and Sunday.

We are the only Florida discount real estate broker or full-service real estate company to do this. We truly understand real estate is a sales business and we understand each call is important and maybe your sale. We have offered this live phone support for six years now and continue to do so. We enjoy the best reputation in Florida among fellow Realtors because of it. When Realtors see our name in the MLS, they know what to expect when they call. Real-time live support 7 days a week!

We also give every seller more control over your MLS listing because each seller has their own seller control panel to change price, commission, view who has viewed your listing and all seamless, 100% on-line and electronic. No faxes, or emails, just clicks.

Even Realtors trust ADDvantage® to list their own listings when they need marketing outside their local MLS coverage. Homeowners, builders and investors all trust ADDvantage®.

Contact Victor Goitia 877-779-8259

Is there a difference between Flat Fee companies?

Wed, 16 Jun 2010 13:30:52 -0400

I’m often asked if there is really any difference between flat fee companies and whether there’s anything to compare, other than price, when selecting a flat fee MLS provider. The answer, of course, depends on the owner/seller’s motivation. If you just want to list or advertise your property for sale in the MLS, then cost really is your only concern. However, if you want to actually sell your home, then here are some other factors to consider:

How long has the company been in business?
The market does a pretty good of weeding out bad eggs. If a flat-fee MLS broker has been in business for a number of years, there’s at least some reason to believe that other sellers have found them to be trustworthy and capable of doing what they say they’ll do. Especially if they’ve survived a couple of down markets and the recent real estate recession, the company has established a business that’s robust enough to succeed regardless of market conditions. Since the real estate market downturn, lots of agents have taken to flat-fee MLS listing just to be able to stay in the business. So new flat-fee MLS listing companies are popping up everyday. However, if the company just started last month and they can’t give you the names or addresses of lots of other properties they’ve actually SOLD, they probably won’t be able to provide the level of service and support you need. Their track record for successfully assisting by owner sellers hasn’t really been established.
What kind of support do they provide?
A good flat-fee company should provide several methods of support. While most online companies want to communicate through email, this may not be the method that works best for you. Top online flat-fee MLS listing providers, like VirtualRealtyCafe.com, offer telephone support, an Online Help Desk and dynamic FAQ’s so that you can get the support you need when you need it.
What other websites will your property appear on and what strategic partnerships have they established? A good flat-fee company should be able to have your home or property listed on ALL of the leading real estate websites. Since over 80% of buyers now start their search for a home online, it pays to be listed everywhere buyers might be looking. While all flat-fee brokers list properties on Realtor.com and the Broker IDX by virtue of the MLS feed distribution, few have taken the time to establish relationships and proprietary RSS/XML feeds to the larger real estate portals like Trulia.com, Zillow.com, Yahoo Real Estate and GoogleBase, to name a few. ADDvantage has even created an automated posting system on Craigslist to provide your property with an HTML formatted advertisement on the world’s largest classified website.
What other tools does the broker provide to help make sure that your property not only gets listed, but has a better than average chance of selling?
Any agent who has been in the business for any length of time (or owner who has sold a number of properties) will tell you that it takes more than a sign in the yard and an ad in the MLS to sell a home. If you take the average online flat-fee MLS company today, you’ll find that most of them offer little more than the opportunity to take your money online and stick your property’s data and photos into the MLS – never to be heard from again. They’re really more like online business cards with a cash register. Very few have gone to the expense and trouble of creating feature-filled back end web applications that give sellers access to online real estate selling tools and services to assist with the home selling process.

These are just a few of the questions owners should be asking when determining with whom to list their properties. Remember, anyone can list your home for sale, but that’s probably not where you want it to stop. A successful sale requires more than minimal effort – especially in today’s buyer’s market.

For more information on what top flat-fee MLS listing companies can provide in terms of service and benefits, visit VirtualRealtyCafe.com

FSBO or Realtor? Why not both?

Wed, 16 Jun 2010 11:11:59 -0400

Many people I speak to on a daily basis are thinking of selling their home by owner also known as (FSBO). At the same time they realize it can be a daunting task. Some are up for it others are not.

The money saved by selling your own home can be significant indeed. If your home is selling for $300,000 and paying a traditional realtor 6% or more it can cost $18,000 to $21,000 in broker commissions alone. I’m not sure about you but it takes me a long time to make $18,000. How long does it take you to make $18,000?

Now let’s get back down to earth with some cold hard facts. You should know that only 14% of FSBO are successful at selling their own home. That means 86% never make it to closing and the vacation you were dreaming of with all the money you saved is probably not reality.

We get the 14% figure from NAR (National Association of Realtors) who also supplies data to our government. Looking at the data further the vast majority of the FSBO homes sold are actually sold by a buyers Realtor. This means most FSBO probably paid a commission of 2.5 to 3% anyway. The true figure is not known but most estimate FSBO homes that are sold with no Realtor involved are less than 1%.

At Virtual Realty Cafe we don’t discourage the FSBO route we just encourage a backup plan or even a forward thinking plan if you do not sell your home. We have found many FSBO become distraught especially in the current market. Having become frustrated and worn out many run to the nearest full commission real estate agent that will promise them a fast sale or some wonderful marketing plan. In our opinion you need to look at all your options.

Internet Marketing and the MLS (Multiple Listing Service) is the key to getting your home sold. Most FSBO don’t have access to all the top websites including Realtor.com the most used site in the country by buyers. To be a member of your local MLS you must be a licensed Realtor and pay dues. In fact approximately 90% of all buyers reported that they started their search on the internet before buying their home. With the MLS and proper internet marketing you have the potential to expose your home to all buyers and Realtors in your area.

There are many big FSBO websites and companies, most not licensed in your state and have no experience selling a home. They know the FSBO statistics and use them to their advantage with a la carte pricing for many services preying on desperate FSBO home sellers. In fact I had a desperate FSBO seller tell me he started with one of these national services and after he was done it cost him thousands of dollars in upgrades and fees in a desperate attempt to sell his home.

The reason we started Virtual Realty Cafe was to provide home sellers a clear cut flat fee, commission free real estate service with the best internet marketing possible, including their local multiple listing service (MLS). We wanted to give home sellers and FSBO sellers an alternative to high commission realtors without using inexperienced FSBO services or going at it alone with the deck stacked against them. Whether you just need marketing help, your home listed in the MLS, or full service contract-to-close assistance, we have a flat fee ADDvantage plan that can help you.

As a FSBO if you don’t mind dealing with buyers, Realtors, showings & contracts, we encourage you to go for it. But consider one of our Flat Fee real estate services for your forward thinking plan and consider us at Virtual Realty Cafe your partners in getting your home sold.

We call it Real Estate by Your Rules.

Is Flat Fee MLS a good deal for New York consumers?

Wed, 26 May 2010 10:32:19 -0400

Is flat fee MLS a Good Deal for the New York Consumer?

Wednesday May 26, 2010

By: Bret McArthur

Flat Rate Realty Network® is a leading Flat Fee MLS Listing provider.

Selling a Home?
View Our Listing Program Options

At Flat Rate Realty Network®, we offer 3 versions of flat fee MLS listings. A "traditional" flat fee MLS listing, a "tradition flat fee MLS listing with contract-to-close representation" and "a hybrid flat fee MLS listing with contract-to-close".

Which flat fee MLS program is best for you? It is simple and worth your time to understand the reasons why we offer 3 levels of service.

Our “traditional" flat fee MLS listing is called MLS Express and costs $349. You will be “self-represented" and all "buyer leads" belong to you. This one sentence explains it all! A longer definition would be that you would be responsible to negotiate all offers with Realtors® and unrepresented buyers. You would be handling about 60% of the incoming calls from Realtors® and we would handle all the Realtor.com buyer inquiries. All leads that we receive are transcribed into an email and forwarded to you from 8:00am-8:00pm 7 days a week...This includes Saturday and Sunday. Most by owners understand this traditional type of flat fee listing except for 3 points of significant concern. First, no seller contact information is allowed in Realtor.com, just the listing broker. It is imperative that you implicitly trust that your flat fee MLS New York broker will answer their phone and forward all emails and calls that come from sources such as Realtor.com. Second, 40% of the Realtors® that see your MLS listing will not call you even though it says in the MLS under Realtor® remarks to "call Seller directly for all showings." Because they don't read these remarks carefully, they often call your flat fee MLS broker. If your MLS listing broker is not reliable to answer their calls (as most Realtors® are not/full-service or flat fee) and help these lost Realtors® with showing instructions then the result will be a lost a showing. Third, the reputation of the flat rate MLS broker is significant. Flat Rate Realty Network® holds the highest reputation among New York Realtors® because all calls have been answered live 12 hours a day since 2005. Most flat fee MLS listing services in New York have dis-serviced Realtors®. Once dis-serviced, Realtors® remember these firms that have been non-responsive and may pass over that listing. Many of our listings at Flat Rate Realty Network® are Flat Rate Realty Network PLUS™ and Flat Rate Realty Network Success™. These two flat fee MLS listing plans comes with a service we call Agent Assure® where we take all calls, schedule all appointments, negotiate and close the deal. Therefore, Realtors® see Flat Rate Realty Network® as a "concierge" discount MLS broker. We are different from all other flat fee MLS business models. This creates an advantage for our sellers.

Our next level of flat fee MLS is "traditional with contract-to-close representation" added. Our program that offers this service is Flat Rate Realty Network PLUS™. There are 3 major differences that distinguish Flat Rate Realty Network PLUS™ from our MLS Flat Rate Realty Network® "traditional" (above). One, we negotiate all offers and close the deal. Two, all calls go through Flat Rate Realty Network® (seller's phone number held private) and we schedule all showings. Three, Street Smart Flat Rate Realty Network® Realtor® E-Blast is included, although you must offer at least a 4% buyer's agent commission. And lastly, Flat Rate Realty Network PLUS™ is inputted into the MLS as an "Excusive Right of Sale Listing" (same as full-service) and not "exclusive agency" which is how our MLS Flat Rate Realty Network® and all other flat fee MLS listings are inputted. The significant benefits of Flat Rate Realty Network PLUS™ are: I can often negotiate a better and higher deal than a "self-represented" seller; Our 8:00am-8:00pm concierge phone support gets more showings and presents itself as a more professional listing to outside Realtors®; And, having an Exclusive Right of Sale listing is a better presentation to buyer's agents. (cost Not Available)

The last level is our hybrid-flat fee MLS plan Flat Rate Realty Network Success™. The difference between Flat Rate Realty Network PLUS™ and Flat Rate Realty Network Success™ is the cost of the plan and how we handle buyer leads. With Flat Rate Realty Network Success™, our local agents work all buyer leads that come our way in an attempt sell your home. They earn the same buyer's agent commission that you are offering all agents. If you are offering 3%, that's what our agents would earn if they are successful selling your home. If another agent sells, then they earn this commission. Only one commission is paid, just like all our flat fee plans. The odds that one of our agents will sell your home are less than 5%. This is the reason why flat fee MLS is a good deal for the New York consumer because listing agents seldom have the buyer! Regardless of whether our agent or an outside agent has the buyer, you will receive contract-to-close service. ($699).

Flat fee MLS listings are a great deal for the New York consumer just as long as their flat fee broker delivers what's promised!

Success selling real estate in Florida using Flat Fee MLS

Mon, 10 May 2010 10:41:52 -0400

The Internet holds 86% of home buying traffic. Realtors control at least 85% of all buyers. The MLS (Multiple Listing Service) is the only way to reach the Realtors. To be successful selling real estate in Florida, you need excellent Internet marketing, Realtors (and hopefully only paying them 3% which is why flat fee MLS listing is popular) and a real estate company that understands the needs of the Realtors and sellers. ADDvantage® delivers what Florida by owners and Realtors need 12 hours a day 7 days a week.

Our specialty is selling homes without a traditional 6% Realtor fee. We offer excellent service, expansive Internet marketing and provide by owners with the best chance of selling. Choose a flat fee MLS listing service that has earned the trust and respect of thousands of Florida Realtors and by owners, ADDvantage® Real Estate.

We are unlike any full-service or flat fee MLS service in Florida because even though we are a discount real estate service that specializes in listings homes in the MLS for a flat fee, we are a unique real estate company because we deliver more service than any other flat fee or full-service company in Florida, guaranteed.

This is not sales puffery, it is the truth! Over the past 7 years, we have answered every call "live" with real "humans" 7 days a week from 8:00am-8:00pm. Because our service is excellent at ADDvantage®, we now enjoy an excellent reputation with our fellow Realtors and by owners throughout Florida.

A good reputation does matter in real estate, especially in the discount real estate listing business. Many flat fee MLS listing services do a poor job servicing their clients and Realtors. Often, Realtors call the flat fee listing service for help with showing instructions, or need instructions for faxing offers or call requesting a seller's disclosure statement only to get an answering machine. Besides assisting all callers live, ADDvantage® also makes available all important client documents online at ADDvantage®. Every detail at ADDvantage® is important to us. We are determined to be the best flat fee MLS listing service in Florida and our MLS board coverage is the widest of any flat fee MLS listing service in Florida. We list homes on the MLS in the Florida Keys, Miami, Boca, Space Coast and all the way to Jacksonville, across to the Panhandle, Tallahassee, Gainesville, Tampa Bay, Sarasota, Ft. Myers, Naples, and Marco Island.

To briefly explore our commitment to our clients that list flat fee with us, take a look at how we handle calls, buyer leads, Realtor showings, feedback, price changes, status changes, and the degree of our corporate organization.

Every call that that comes in to ADDvantage® requesting information or a showing about a particular property is entered into that clients account. Our system then send an email describing the nature of the call and sends the Realtor an email confirmation confirming their showing request. If it is a showing request, our MLS administrators will record the Realtor or buyers email address and all other info. Our system sends an email for feedback the day after each showing, notifying all parties of any price changes or changes in listing status.

Flat fee MLS listing services in Florida are not all the same. Our attention to detail and our excellent phone support do translate into more showings and a faster sale for our flat fee MLS home sellers. Please read our flat fee MLS listing testimonials and review our past flat fee MLS sales statistics.

We offer three flat fee MLS listing plans at ADDvantage®. Our basic 9 month listing is $349. We also have a Realtor E-Blast marketing campaign called Street Smart ADDvantage® for $599. This plan is reserved for those sellers wishing to offer a 4% or greater buyer's agent commission. Read why this may be helpful when selling. We also have a contract-to-close listing plan called ADDvantage Success™ which is a full-service discount listing. ADDvantage Success™ costs $699 plus ¹⁄₃% at close ($699 min).

Once a client at ADDvantage®, you will enjoy our 100% electronic sign-up and a paperless client experience. No faxing or cumbersome emails. Every change you make to your MLS listing is handled by our experienced MLS staff. As a client, you have your own "seller control panel" to manage your flat fee listing. In your control panel you can change price, lower or rise commission, print brochures, view who has viewed your listing on our site www.getmoreoffers.com, contracts, forms, upload documents and mark the public or private and much more. We do have the most intuitive and advanced flat fee MLS listing service in Florida.

The formula for selling fast in Florida starts with saving 3% over a traditional 6% listing. Flat Fee MLS enables by owners to price their home closer to where Realtors and buyers will be motivated to make an offer. The term "appraisal envelop" is the high and low estimate of where an appraisal will come in once a home is under contract.

In today's Internet driven market, paying 6% to a full-service agent to list a home is unnecessary. Your local neighborhood Realtor uses the same MLS and deals with the same appraisal concerns as we do. These local successful buyer's agents want to sell your home but only within 2 or 3% of the appraisal envelope. So paying 6% commission just increases your cost of selling, but not your odds of selling.

Call us anytime; we are open from 8:00am-8:00pm 7 days a week. 727-942-2929. As well, you may find our smart by owner MLS selling tips to be enlightening.

Florida By Owners control how fast they sell using Flat Fee MLS

Tue, 04 May 2010 12:11:15 -0400

The question home owners in Florida should ask themselves before listing their home in the MLS is, who is in control of the Florida real estate market? The buyers, the buyer's agents or the real estate companies?

The simple answer to this question is none of the above. It is the seller who is in control and their listing price determines how fast they will sell. This assumes all other factors that can also effect a sale such as Internet marketing, MLS listing accuracy, effective showing service and customer support are present.

What we do at ADDvantage® is make the process of getting listed in the MLS more efficient, cost effective and provide sellers with all the tools to make selling a home in Florida without an agent more transparent. Our slogan is "Real Estate By Your Rules" and it is truly what we do.

ADDvantage® is the most reliable flat fee MLS listing service in Florida and our testimonials and flat fee MLS sales statistics speak for themselves. We have some impressive sales statistics for the first 4 months of 2010. At the beginning of 2010, ADDvantage® had 172 flat fee MLS listings in various cities throughout Florida from Miami, Tampa, Orlando, Jacksonville and even very small almost unheard of cities such as Apopka. Because we offer our flat fee MLS services almost every Florida county, we don't have the advantage of market penetration in a single area but we do enjoy success selling homes over a large area. In our case, it is the entire State of Florida.

As of May 3, 2010, we have 23 contract pending homes and closed 42 homes using our flat fee MLS listing service. Our open inventory has dropped to from 172 to 137 listings. We are selling homes faster then we are getting listings. Our flat fee MLS listings are selling fast, in part, because our sellers are in control. We offer many seller tools that are easily accessible from each seller's control panel. Sellers list their property 100% online and make changes to their MLS listings via that same control panel. Our by owner MLS sellers control their our destiny, not a listing agent. The money our sellers save using our service goes into their pockets. ADDvantage® is a sophisticated selling and marketing platform for by owner. We add excellent service offering live phone support from 8:00am-8:00pm 7 day a week service and aggressive and expansive Internet marketing. Of course, we are members of practically every Florida MLS, as well.

Assuming good service and excellent Internet marketing are not missing, then price is the only factor that determines whether a home is sold or not. Is this statement 100% accurate? I believe it is. After 27 years as a Florida real estate broker and 11 as a flat fee MLS Florida broker, I have insight into many transactions and really know how and what motivates the market. From the buyer's agent perspective, their entire motivation is to earn a commission. They only get paid that commission if the house appraises-out and the deal closes. Buyer's agents will pass on every home listed in the MLS that is priced too high above where they feel the "comparibles" will support a sale price or offer. These buyer's agents want just one thing. A deal they can write within the appraisal envelop. If they feel the MLS listed price is too high above that appraisal envelop or after speaking with the listing agent feel that the seller is not willing to negotiate very close to that envelop, than they will likely move on.

One of our most popular flat fee MLS listing plans is ADDvantage Success™ where I negotiate for the seller and close the deal. This flat rate full-service plan costs $699 plus ¹⁄₃% at close ($699 min). It is a fast and effective way to a deal done at the higher-end of appraised value. The value of this service to the seller is I can push the buyer's agent and their buyer to offer more than they would if they deal directly with the seller. In part, because I command the respect of the buyer's agent and this typically results in a higher offer than a self-represented seller could accomplish. Buyer's agents are not a seller's best friend because they want completely the opposite of what a seller wants. By me acting as middleman to negotiate for the seller keeps the negotiations fair.

Call us anytime, we are open from 8:00am-8:00pm 7 days a week. 727-942-2929. As well, you may find our smart by owner MLS selling tips to be enlightening.

A true story why flat fee MLS listing in Florida is better at ADDvantage®

Wed, 03 Feb 2010 13:42:41 -0400

The single biggest fallacy about flat fee MLS listing in Florida is the perception by sellers that the flat fee listing service sole function is to get listed in the MLS and nothing else matters. Not service, not reliable and not reputation. Just get me listed in the MLS as cheaply as possible, the Realtors will call me directly, and I will get the extra exposure I need.

What's wrong with this thinking is the flat fee MLS Florida listing broker is called about 40% of the time by Realtors that don't read the showing instructions correctly in the MLS. Realtors simply ignore the comment to "call seller at 305-555-2525 for showing and offers" or call the seller and get no answer.

The fact is these Realtors and buyers do call the flat fee MLS listing service when they need help. If they don't get assisted, they will not show your flat fee MLS Florida listing and you will lose an opportunity to show and possibly sell your home.

What's even more amazing is some sellers that do receive the best flat fee MLS service possible still don't believe how important our 8:00am-8:00pm 7 days service really is. Just last week, a client of ADDvantage® that was over-priced by some 40,k and after being listed with us for 7 months actually listed with another flat fee MLS listing service on the east coast of Florida. I never heard of us ever losing a client to another Florida flat fee MLS listing service. We do lose listing to full-service agents that boast they can bring a buyer but never a flat fee service because our service is exceptional.

By the way, when a $349 traditional flat fee MLS listing is about to expire (after the 9 month listing term) the seller can extend for 50% off the cost. Our ADDvantage Success™ flat fee MLS listing plan is "list till you sell."

Back to the client. I always call our expiring clients and chat about renewing their service for our discounted 40% off rate for another 9 months. This client actually thought they would do better listing their property with another flat fee listing firm. After they paid, they couldn't get that company back on the phone for 14 days...Just gone!!

The client called us back and renewed their old listing but when our MLS Administrator went to input the listing into the MLS we couldn't because that other firm still had the listing active. I called the client and advised them accordingly that they are listed. But, if the company is not answering their phone, you will lose showing opportunities. They agreed. For the past 6 day they have been trying to get that other flat fee MLS listing service in Florida to cancel the listing but the seller can't get them to respond to email or pick up the phone. They emailed me asking for the MLS Realtor Association phone number to file a complaint.

It is common place in the discount MLS listing business to have flat fee MLS brokers not answer their phone. To my knowledge we have never lost a client to another flat fee MLS listing service. We have been offering 8:00am-8:00pm 7 day a week service for 7 years now and continue to do so.

What amazes me is some people just don't get it. Service and reliability does equate to more showings and ultimately a higher offer.

Who's better at negotiating real estate contracts…A lawyer, a broker/agent, or a self-represented seller?

Thu, 21 Jan 2010 11:21:28 -0400

Who's better at negotiating real estate contracts…A lawyer, a broker/agent, or a self-represented seller?

Sellers and buyers want to get the best deal possible when buying or selling real estate. Got to love the Budweiser beer commercials of too light and too heavy because that is exactly what this article is about.

Let's start with the profession everyone loves to bash and that would be the attorneys. While not all attorneys' abilities and demeanor are the same, in general, they should leave certain negotiations to the Realtors and stick with the contract related issues such as which name to take the deed in (trust or individual) and other legalities that can affect their client. But, price is not a subject that attorneys should get involved with because they are too-heavy! When things go amuck, it's generally because the attorney steps on the toes of the Realtors and advises their client on price and negotiating strategies. This is not their forte and when they do get involved, it is a hard-ball negotiating tactic to push the other side. Might this be because they are justifying their services? When negotiating, always leave a door open and never slam one shut or create an obstacle that is impassable. Attorneys…Too-heavy!

Studies show that the general public trusts Realtors even less than lawyers. Supposedly, only 7% of the US population fully trusts attorneys. So where does that leave the Realtors? Why would anyone of sound mind and body allow a Realtor to negotiate a real estate transaction? The answer may surprise you. Realtors are aggressive, smart and most of the time, know their stuff. I can speak from a position that few can do because I have over 200 listings in Florida and negotiate as many as 5 deals a week. I can tell you that while I am a skilled and professional negotiator, so are the other Realtors that I do battle with on a daily basis. Realtors fight hard for their buyer clients, do their homework, and push their cause to the extreme to get the best deal possible for their buyer. I seldom engage a nonchalant Realtor and I find them on their game. Realtors…Just-Right!!

Next in line for analysis on the “Who's the best at negotiations” is the by-owner flat fee MLS seller. Flat fee MLS listings, also known as “limited service”, allow the by-owner to represent themselves in all negotiations. This is completely opposite from having an attorney or a broker/agent negotiate for you. When the by-owner allows someone else to represent them, they remain insulated behind the words and actions of a third-party. Sellers that represent themselves can quickly become trapped in a conversation about price and terms with no “dump-button” as all conversation are “live.” The self-represented seller is on the front-lines and has no back-up. Everything they say can and will be used against them in negotiations. Self-represented sellers…Too-soft!!

My advice to by-owners that self-represent when listed flat fee in the MLS is, don't do it! Upgrade your service to ADDvantage Success™ and allow me to represent you. If you represent yourself, you are exposing yourself without representation to the most aggressive and smart independent work force there is, the Realtors. They know more than you about contracts and you will likely leave money on the table or possibly be going back-on-market with your property after 20 or 30 days because of the buyer's inability to close. As well, you might agree too fast to a deal or not know local protocol and be left with less at closing. There are always issues such as appraisal, inspection reports, addenda, pre-approval letter, dead-lines, and other matters that come up and need to be dealt with promptly and professionally.

In conclusion, my advice is to seek an attorney when you have “tax” or “will” related issues such as closing a property in trust. Use an attorney when doing a complicated commercial deal or to review the language in a residential transaction. But, keep in mind, FAR and FARBAR contracts have been approved by the Florida Supreme Court. FARBAR contracts have been approved the Florida Association of Realtors and the Florida Bar. If you are going to represent yourself, do it for the right reasons. Some flat fee MLS “self-represented” sellers are builders, investors and others that are apt at contracts. Even the most experienced self-represented sellers need to be careful about what they say and how they engage a buyer. I see “back-on-market” all the time with even the most experienced investor-type clients at ADDvantage®. ADDvantage Success™ costs $1050 more than our $349 self-representation plan but well worth the money!

Considering a short sale? Short sales are free at ADDvantage Real Estate Services

Wed, 14 Oct 2009 13:25:25 -0400

Unfortunately many Florida homes are valued less than what's owed to the lender. The decision to short sale your home or condo depends on many factors.

Most people are concerned and confused about the credit impact of a short sale, whether the lender will come after you for any deficiencies and if the lender will accept you (and your credit/assets) as a short sale.

These questions are somewhat easily answered. First, your credit will take “a hit” for about 4 years but far less than a bankruptcy or a foreclosure (10 years credit impact). The reason lenders prefer a short sale to a foreclosure is the turn-a-round time for liquidating their ‘bad-asset’ is rather fast for a short sale when compared with the high costs of a foreclosure.

Lender will not seek a ‘deficiency judgment’ against the homeowner for the short sale ‘short fall’ which is the difference between what you owe and the lender net return from the sale. No one will be coming after the sale like a bill collector. If that were the case, short sales would not be a viable option. We get a full release and satisfaction of debt from the lender. They may seek a promissory note from you for a fraction of what's owed (10-20 year note and a low interest rate) but not a judgment for the short fall. This is the primary reason why you would ‘short sale’ as opposed to getting foreclosed upon.

Lastly, not everyone is suited for a short sale because if you can't prove ‘hardship’ then the lender may take a position that if you want to sell, fund your own short fall and pay this negative balance at closing. Hardship is rather easy to prove for most short sales. For example, under-employed, no money, less than $50,000 liquid assets, no liquid assets, low assets, retirement, age, health, stress or mental health or rapid depletion of available assets or cash. The ones that can't prove hardship and shouldn't attempt a short sale are those people with excellent credit, good income, cash in the bank and enough cash to close the ‘bad-asset-home’ and still have a life.

We (ADDvantage) will run your short sale for free. You can list your home online (100% electronic sign-up) at shortsale.getmoreoffers.com. We list the property as a ‘full-service short sale 6% listing’. The lender pays our commission and all your closing costs. You pay nothing unless they request a note for a portion of the deficit.

As well, the lender will likely not pay us a 6% commission but rather negotiate our fee to 5%. We split that 5% between the buyer's agent and us as the listing agent.

Additional things to consider when doing a short sale in Florida.

Your credit will take a ‘hit’ for at least four years but better than a foreclosure. This may prevent you from buying another home for 4 years with the current underwriting practices. I fully expect these rules to change because there are plenty of excellent credit risks out there that have done a short sale. Greed in lending will return but just not to the extreme of 2000-2004.

The lender may request a note for a percentage of the short sale deficit. These days, lenders are attempting to get a note from everyone...The poor, the unemployed, and the not so poor. The more assets that you have the more they will likely want and get a note. Of course, your retort to them is ‘hardship’ and no!!! If you must give a note to the lender, make it as small as possible and fight the whole way. Notes are usually negotiated between the seller and the lender.

If the home is a primary residence, the IRS will forgive the shortfall deficiency and allow you expunge the loss. The lenders will 1099 you for the loss or deficiency. Seems weird but the IRS looks at losses as money barrowed and not paid back and taxable. The short sale “short-fall” is viewed as “earned income” and taxable. If the home is not primary, the IRS expects to get their share of the 1099 gain/loss. I hope in the near future, the IRS will make deals with short sellers to lessen this tax penalty.

There are many so called “short sale” experts offers their services and often use techniques that I do not believe are in the best interest of the seller. I do not take “any” offer to “get the ball rolling” at the lender. I want an offer that has the following:

I want a buyer that will be patient. Ideally, a cash buyer, but that is unlikely. I would prefer my buyer to be investor, but again unlikely. If the buyer is an end user, then I would hope they have 120 days to hang in there. Short sales can take anywhere from 65 to 130 days depending on the lender, how many lenders are involved and the loss mitiagator assigned to the file.
I need a buyer's agent that understands short sales especially if their buyer is an end-user because if they don't, their buyer likely doesn't understand what's going on either and that may hurt the deal.
I want an offer/contract that matches what the lender will accept. I don't want the lender to counter our offer. I want them to accept it! Seems easy and often it is. The listing broker is responsible for setting the list price and better do their homework. The listing agent needs to do what's called a BPO (Broker's Price Opinion). This is an estimate of value that, if listed at that price, would bring multiple offers in a short period of time.
I want a cooperative seller. The seller must be proactive and help with the short sale process. It is extremely important for the seller to be available and helpful. At times, the lender will request additional information and addendums.

Getting a short sale “sold” is our specially and rather easy for us as we are the largest flat fee MLS listing broker in Florida and we sell tons of homes in Florida for many reasons. We have excellent customer service (8:00am-8:00pm 7 days a week), give excellent pricing advice to our sellers (we always recommend listing at the ‘market’ and leave no room to negotiate), we are very good at Internet marketing (Yahoo, MSN, Realtor.com, Homes.com, GetMoreOffers.com, BargainNetwork, AOL, Craigslist and hundreds more sites.) We are members of 25 Florida Realtor Associations and list home for sale in Miami, The Florida Keys, Naples, Marco Island, Amelia Island, Jacksonville, Ft. Myers, Tampa Bay, Gainesville, Ocala, Daytona, Tallahassee, The Florida Pan Handle, Orlando, Weston, Ft. Lauderdale, Sarasota, and just about every small city in Florida.

Please don't be concerned that my office is in Holiday, Florida because I represent sellers in every Florida city as all my work is done by email and phone.

Call me any time and I would be glad to answer any questions that you may have. 727-942-2929.

Or, go to shortsale.getmoreoffers.com to list your home free and 100% online!

Write a Story About Your House, Not a Fact Sheet

Mon, 05 Oct 2009 14:55:04 -0400

Often times when I'm looking at advertisements for houses for sale, they often seem boring. Why not write a story about your house, not just a fact sheet.

After all, if you are a buyer, you are probably looking through tons of inventory. After a while, it all looks the same. Why not entice the buyer with something different.

Here are a few idea when writing that perfect copy for your advertisement...

Gather your facts.

Think back to when you were a buyer looking to move. You probably went through lots of different houses to get to the one you live in now, right? So what was it that made you buy your house? Think about what features you were looking for and why they were important to you. Was is the proximity to the shopping? Was it the "A" rated schools that you wanted to provide for your children?

Now write your story.

Be creative and think about what a buyer would be interested in. Think about EVERYTHING. Write out how you spend your time there. Here's an example...

Welcome home! When my husband and I were looking for a home, we know we wanted a safe neighborhood to raise our children. We knew right away we found the perfect home when we pulled in the driveway. We love this house. We have two children and they made friends almost immediately. The first day we moved in, we had our new neighbors bring us food and welcome gifts. So sweet! We love how close everything is. Knowing that the school is right around the corner makes it easy for the kids to walk home. There is a farmer's market we love going to every Saturday morning.

This home has everything we wanted. We wanted a home that had an open floor plan and lots of light and open space. We like to entertain and this house is perfect for that. The kids have their own playroom away from the living room, so we can enjoy ourselves if we want a little peace and quiet. Speaking of peace and quiet, the master bathroom has a jetted garden tub and is just terrific for unwinding after a long day. My husband loves cooking, so space in the kitchen was a must. We upgraded the appliances and refrigerator as soon as we moved in. The house is really well insulated, so the electric bill is really low. We both have allergies, so we installed all hardwood flooring as well as upgraded the filter on the air conditioner. Outside, we have a pretty maintenence free yard. The landscape is easy to keep up with and is perfect for the climate. The automatic sprinkler keeps the lawn green and it has a sensor to shut off if it's raining outside.

All in all, we are going to really miss this place. We really thought this would be our forever house, but things change. I'm sure you will find as much enjoyment as we have had. Happy searching!

Now advertise it!

Put it on your fliers, your web posts, your Craigslist ad. The more people that see your story, the more they can connect with your house. Good luck!

Why Flat Fee Realty Doesn't Work All The Time

Wed, 16 Sep 2009 00:23:17 -0400

Today, I was on the phone explaining how our flat fee service works to a potential customer.

“Yeah, Yeah, I understand. I tried it before, and the only thing it got me was one phone call.”

I hear this quite a bit. I understand how he feels. When we created ADDvantage Real Estate Network, we wanted to serve the public with a program that really works. We learn a lot from the bad apples. Flat fee real estate is nothing new, and the longer it stays around, the more likely you are to have companies spring up that are in it to make a quick buck and ride the wave for as long as it lasts. We feel that if we strive to do the right thing, everyone wins.

Here’s what I mean…

Most all flat fee real estate companies steal buyer leads. It’s true. That’s how they can afford to charge you $99 and still survive until next year. We charge $349 and deliver all buyer leads to you. We couldn’t steal them even if we wanted to because whenever we advertise your property on the web, we include your contact information, not ours. The one exception is Realtor.com, and that’s only because they forbid agents to display owner contact information. To remedy that, whenever someone looks at your property on Realtor.com, if they want additional information or to schedule an appointment, they will click “view agents website” the buyer will be redirected to our website, to the page with your listing. From there they will see your contact information. If they choose to email the agent, our IT team has it set up to where the lead will be redirected to your email box, without us having to forward it to you each time.

For more information about how ADDvantage Real Estate Network handles your leads, see our sections on Protecting Your Leads

Get a full-price offer on your flat fee MLS listings using the advice from “pricing coach” Keith Gordon

Mon, 24 Aug 2009 13:28:41 -0400

In a buyer's market, your list price is as important as the company that you choose to flat fee MLS list your home. What worked in 2007 changed in 2008, and now things are completely different in the third quarter of 2009.

As one of the founders of the ADDvantage® Real Estate Network and a pricing coach for hundreds of flat fee MLS sellers, I recommend a combination of 4 pricing strategies:

To form a basis for pricing your home, search Realtor.com for homes in your neighborhood that are comparable to yours.
While I am not advocating wasting a Realtor's® time, I would talk with a few local full-service Realtors® and have them prepare a Comparative Market Analysis (CMA) for you. This CMA value will have a range that they will use to suggest a listing price. In a buyer's market, their suggestion is a catch-22 in that they will likely suggest listing at the lower end of the price range which will help sell faster but will also earn them their goal of a fast commission. Because you have the option of flat fee MLS listing your home, you can pass this 3% savings onto the buyer which will help you price your home at the lower end of the CMA range. Another reason to price as low as possible is that as many as 20% of all sales fall through today because short sales and bank owed (REO) properties have moved the price of available “closed sale” comparables to a level that will not support some sales contracts. Therefore, pricing your home for a successful appraisal is a consideration. Another factor is time which is not typically on the side of a seller in a buyer's market because prices have been lower every month for the past 4 years in most areas of the US. But, the good news is this trend appears to be changing.
Next, test your listing price for reaction. Wait to see what the Realtors® and buyers do. The first gauge will be the amount of showings and the second will be the quality of offers. When you list you home with the ADDvantage® Real Estate Network, our system sends each Realtor® an email the day after they show your property requesting feedback. Use this feedback to fine tune your price.
Next, consider my Buyer's Market Pricing Theory that is working well in cities throughout the US including Miami, Orlando, Naples, Fort Myers, Springfield, Denver, Raleigh, and other cities. I call my theory “How to Win the Sale and Not Give Your Home Away.” Here are my thoughts…

You have made an excellent choice by listing flat fee in the MLS and saving 3% in real estate commissions. Now you can pass this savings onto the buyer.

Next, appeal the competitive nature of the Realtors® by listing your home at a price where Realtors® scramble to be the first one to sell it and earn the offered commission.

I know my price theory works because I have thoroughly researched Realtors® and their motivations. I have also negotiated for 100's of by owner MLS flat fee sellers that have chosen to use our hybrid flat fee MLS plan ADDvantage PLUS™.

Buyers are only willing to pay market prices and at times slightly less than market prices to compensate them for the possibility of lower prices in the nearby future. In contrast, sellers are only willing to sell if they receive a price that they feel is not giving their property away. Sellers may have other restraints such as mortgage balances.

Now, create a situation where there is excitement about your listing by listing your home at your bottom line price! This strategy gives buyers hope that you'll negotiate lower with them into their comfort zones. That is why they will make you an offer. Eventually, there will be some buyer or Realtor® that likes your price and is willing to offer full-price.

The “price” game and how to play it so your flat fee MLS listing in Florida gets sold

Tue, 18 Aug 2009 15:16:11 -0400

The “price” game and how to play it so your flat fee MLS listing in Florida gets sold

Florida has $50,000 homes in Pasco County and $15,000,000 homes in Miami neighborhoods of Coral Gables, Coconut Grove, Star Island, Hibiscus, Fisher and other areas in Florida’s diverse real estate market.

My advice on how to price your Florida home may be interpreted differently depending on the price of your home. But, for this article, I’ll assume we are talking about homes that are $2,000,000 on down.

I know my price theory works because I have helped 100’s of Florida sellers get their properties sold even in this challenging market. I work with Realtors every day in Miami, Tampa, Daytona, Tallahassee, Jacksonville and just about every city in Florida. I understand their motivations.

The premise that I use in this buyer’s market is that buyers are only willing to pay market prices or slightly less than market prices to compensate them for the next drop in price even though prices in Florida seem to have stabilized.

Sellers, on the other hand, are only willing to sell if they get a price that they feel is not giving their property away or have other restraints such as mortgage balances!

Here’s the quagmire as I see it. How do you get the buyers and their Realtors to offer you a fair price? My suggestion is assume for a moment that you are negotiating with a cash buyer. After a few counters, what price would be your bottom line?

Even if you do your best to arrive at a firm bottom line price, often there will remain a gap between you and the buyer. This is the gap where buyers often will not travel to because they think they are paying too much and sellers think at that price they are giving way their home. So, what’s the answer?

The answer comes in two parts. First, get the Realtors competing against one another to be the first one to sell your home and earn the offered commission. It is always about the money! The way I do this is make your home attractive by listing it at the lowest price possible right from the start. Leave no room to negotiate and wait on a smart Realtor or buyer to bring you a full-price offer or very close to it.

This pricing strategy will create excitement and hopefully close that price gap. This strategy will encourage real buyers and Realtors to engage you with a serious or hopefully a full-price offer.

Second, if you decide to list your home flat fee in the MLS in Florida with us, consider our ADDvantage Success™ hybrid flat fee MLS listing plan that is just like a full-service listing. This plan allows me to help you navigate better with the Realtors and I negotiate all offers for you as well. I talk with each Realtor before they show your home and guide them (actually coach them) as much as possible to bring a full-price offer. Realtors often call before showing a home and request this kind of guidance anyway. It is my pleasure to assist!

By pricing your home this way, Realtors have extra motivation to be the lucky one and earn the offered commission.

Call me any time and I will discuss how to best price your Florida home.

727-942-2929

Foreclosures Are Selling Quickly, Don't be late to bid!

Fri, 14 Aug 2009 07:08:19 -0400

Foreclosure bargains are disappearing, here in Pinellas County and around the country, here’s a story from CNN.

Call John Birch 727 385-6547 to get your offer in on time!

ATLANTA – Aug. 10, 2009 – Buyers of foreclosure have to be quick these days. Some houses go under contract fewer than 90 minutes after they are put on the market, says Brad Geisen, founder of Foreclosure.com.

“For every listing that comes out, we have 10 buyers,” says Cesar Dias, an associate with Approved Real Estate Group in Stockton, Calif. Dias had 15 minutes of fame after introducing foreclosure sales tours last year. Now the tours are defunct because there are not enough homes to show.

“We had a lot of inventory last summer. Now we’re down to 1,500 listings – from more than 5,000,” Dias says.

In Florida, real-estate investment companies, buying in bulk and paying cash, face competition.

Even in the hard-hit Detroit area, bargains are disappearing.

“For a good house that’s not too beat up in a good neighborhood, there’s no lack of buyers in this market,” says Andy Sakmar, founder of Century 21 Sakmar in Rochester, 20 miles north of the city. “There are a lot fewer of these properties than a year ago, and the super buys get multiple offers.”

Source: CNNMoney.com, Les Christie (08/06/2009)

Short Sales look to ADDvantage Flat Fee MLS for fast professional advice and service in Florida

Tue, 11 Aug 2009 10:17:11 -0400

I am Keith Gordon, Broker for one of the largest discount real estate brokerage firms in Florida. I offer many specialized services in Florida for sellers including flat fee MLS listings, short sales, and price consulting.

Getting your property sold using the short sale process is one of my specialties because I truly understand the process.

The 3 golden rules to establish an effective short in Florida are:

Establish a accurate hypothetical BPO
Find the right buyer
Ride the short sale processor like your accountant at tax time

You can trust that your short sales with receive the professional attention it needs at ADDvantage. I offer fast professional advice that you need to short sale your home anywhere in Florida including Orlando, Tampa, Miami, and Jacksonville or any city in between.

Below is a recent letter that one of my short sale Florida clients sent to me regarding a phone call to Wells Fargo. It does provide some insight into the short sale process:

I spoke with Wells Fargo rep today about the Short Sale process, and possibility of getting a BPO. Rep was not supportive, and indicated a BPO appraisal would not be provided to seller/agent anyway. Seems ridiculous, as it only forestalls the process, and eventually we should find out the BPO amount anyway. Rep said my agent could establish our own BPO, which I confirmed we had done. I may call another time to see if I get the same response, but it doesn't sound good until an offer is presented.

I was also informed we have to provide much of the same documentation we already provided. Evidently, that was only an exercise, since it must be provided as a package when an offer is presented. Required documents include the following (items marked with * were previously provided):

Financial Worksheet (signed by all borrowers) * Hardship Letter (signed by all borrowers) * Realtor Info/Contact (Also included on Wells Fargo Financial Worksheet) * Offer * Listing Agreement * HUD1 Purchase Contract (initialed by all parties) * Buyer Pre-Qualification or Proof of Funds for a cash offer

I was able to find out that we have not yet been scheduled for a court date for foreclosure action. The Wells Fargo rep said that Florida processes foreclosures relatively quickly, which is a concern. She said that a negotiator would be assigned when an offer was provided. Only the negotiator can delay the foreclosure proceedings to accommodate the negotiation process.

Wells Fargo Short Sale Division office phone number is (866)903-1053. Fax number for short sale offer package is (866)359-1975. In order for them to discuss/negotiate the offer with you, they will have to receive a 3rd Party Authorization form signed by all parties. I believe you already have that authorization from us via previous uploads to ADDvantage website.

The market conditions in Florida in any city such as Miami, Tampa, Jacksonville, and Orlando have created negative equity for many home owners. Short sales provide an alternative to foreclosure where the lender negotiates a sale for less the current amount due.

You can list your home 100% online by going to our short sale website at keith.getmoreoffers.com and look for the tab “start a listing online.”

Once you enter your data, upload pictures and sign the listing agreement (all online for you), I will contact you and discuss strategy or feel free to call me any time at 727-942-2929.

Here are a few things that you should know about a short sale:

A definition of a Short Sale is the sale of real property where the market price of the property is valued for less than all mortgages held against that property, or the loan balance. In order to make a sale happen, the lender must approve the offer amount and terms.
The IRS treats short sale deficiencies differently depending on whether the short sale is a homestead/primary residence or an investment property.
The seller should speak with their CPA or financial adviser before deciding on a short sale as opposed to other remedies.
Your credit score will suffer but less than a foreclosure.
The seller should call the lender and request a short sale package as soon as possible and ask if they have any MLS time requirements.
The listing broker will need to determine value (hypothetical BPO).
All contracts/offers are contingent on third party approval as well as any commissions offered in the MLS to cooperating brokers/agents.
Short sale “listing agreements” need to have this language to protect the seller…”The seller’s obligation to perform on this contract is subject to the approval of the lienholders on the property. The seller may cancel this agreement prior to the ending date of the listing period without advance notice to the broker and without payment of a commission or any other consideration, if the seller tenders Deed-in-Lieu of Foreclosure.”

The roll of the listing broker is to set an accurate hypothetical BPO value and bring the most suited buyer (and buyer’s agent…because agents that are seeking a fast commission will not hang in there and will eventually push the buyer away…it takes 65-120 days for a short sale to close).

With ADDvantage’s powerful Internet marketing we will find the right buyer. Our software tracks all the details along the way and our short sale team is organized, knowledgeable and we let no time get away from us.

We work along side another short sale specialist at Al-Day Donaldson.

For more information about ADDvantage handling your short sale, call 727-942-2929 or go to our short sale Florida website keith.getmoreoffers.com

ADDvantage holds membership in the following Florida’s MLS Realtor Associations:

Is It A Great Time To Rent?

Mon, 10 Aug 2009 15:05:08 -0400

Is it a great time to Rent?

Now is a great time to rent a home! I keep seeing rental prices going down with the struggling economy. This leads to the question many potential buyers question have, should I buy or should I rent? There are three instances in which you should decide to rent. One is when you plan to move from the area in next two years or less. The second is when are unsure of your future income or job stability. The 3^rd instance is if you can’t get a fair interest rate or mortgage terms due to your current credit score.

Some people feel if you are new to an area you should rent for a while and that could be true, but my thinking is take advantage of the first time buyer credit of $8,000 while you can. This program ends Nov 30, 2009, and it would be a good opportunity lost if the program isn’t available when you are ready to buy.

A few tips for renters; How to get the best deal.

If your credit score is good and your income is easily verified, you are in a good position to negotiate the rental price! So offer a bit less and state to the landlord you’re a low risk, and that’s worth the price break.

If you have money to pay several months in advance, ask for a rent discount for the early payment and pay in advance. (Caution it is best to make sure the owner’s mortgage is current) check county records to see if the lender has filed a motion to begin a foreclosure.

Ask for a tenant reference of the landlord or manager. Most property management companies would be glad to provide a reference of their service. If you can’t talk with someone who has been a long term tenant it might mean the company has a policy to raise the rent dramatically after the first year.

For property information contact John Birch 727 385 6547 or john@getmoreoffers.com

Lenders delay Short Sales

Mon, 10 Aug 2009 14:52:58 -0400

Short sales are no fun! But understanding the process along with patients and determination will often result in a sale.

For sellers it is a chance to get out from under an unaffordable mortgage, For buyers you can typically buy a home that is in move in condition, and if qualified receive a low down payment mortgage with the sellers lender paying the closing costs. In the article below you’ll see the common problem of a slow lender response, but if you are a patient buyer, or a seller looking for a solution send me an email or give me a call and I’d be glad to discuss the process.

John Birch 727 385 6547 or john@getmoreoffers.com

NEW YORK – Aug. 10, 2009 – A February survey of 1,300 real estate agents by Campbell Communications reveals that only 23 percent of short sales close, and over 90 percent of respondents blame lenders for delaying the process.

Short sales are seen as a way to reduce foreclosures and associated costs by allowing sellers to unload their properties for less than the amount owed on the mortgage, but many of these homeowners wind up in foreclosure anyway as the prolonged waiting periods prompt buyers to walk away from their offers.

Lender delays often are the result of insufficient staffing levels, short sales experience and processing systems. The presence of second liens and home-equity lines of credit also complicate the process, because these lenders also must agree on the short sale.

Meanwhile, experts say agents who neglect to submit the necessary documents to lenders or do not inform buyers and sellers of the lengthy processing time for short sales cause delays as well.

Bank of America is among the banks looking to reduce short-sale approval times by appraising homes and setting a minimum price in advance. Moreover, the Treasury Department soon expects to provide standardized documents, lender incentives, and moving allowances to homeowners to quicken the process

Finding A Good Lender

Fri, 07 Aug 2009 11:31:58 -0400

When looking for money to buy a Foreclosed home, one of the most important aspects is choosing a lender that gives honest information, and truly finds your best source of money.

The person I recommend is JoAnn Rooney, a licensed mortgage broker for Your Mortgage Source, Inc. with over 11 years of mortgage industry experience.

JoAnn is passionate about her business and excels at thinking "outside the box" to find the right mortgage solution, right now for her clients. She finds great fulfillment in helping her clients navigate through the maze of today's financial market.

JoAnn is a Paul Harris Fellow recipient; a 2007 graduate of Leadership Pinellas, member of the Pinellas Women's Philanthropic Circle, is involved in Dunedin Rotary North and the Tampa Bay Think Tank. She holds memberships in both national and international professional networks to better serve her clients. Membership allows her to provide referrals for world class real estate and lending professionals who are also dedicated to delivering the highest level of service to their clientele anywhere in the world.

You can reach JoAnn Rooney in the office at 727-787-2299 extension 1 or via email at JoRooney@urmortgagesource.com mention that you were referred to her from John Birch of ADDvantage Real Estate, and you’d like the money to start buying foreclosed homes.

p.s. If you are a first time buyer we have special programs, call either of us for the details.