Chris Davis - Mortgage Consultant

Don’t let bad photography cause you to lose precious sales commissions.

2010-09-30T11:01:00.000-07:00

Let’s face it, Real Estate Agents are extremely busy people. They sacrifice a lot of their lives away from their families just to be in the business. With the blackberry or iphone constantly ringing off the hook, emails, house showings, and client meetings, a career in real estate is a pretty hectic job. So what about one of the most important features of showcasing the “product”? Does the quality of real estate photography often get neglected? From what I’ve personally seen on a local level, I think it does. I’ve searched hundreds and thousands of real estate listings over the past several years, and the majority look pretty scary. Sure, these are tiny thumbnails sized images most of the time, but even those have drastic room for improvement. The majority of home buyers are browsing these online websites first, so you need to make sure you make a good impression.

Here are some quick tips you might be able to use as a Realtor in order to improve the quality of your photos in your online listings (no matter what camera you have).

1. Don’t shoot the exterior mid-day when the sun is highest in the sky. Early morning or later in the afternoon is much more visually pleasing. Save mid-day for shooting the interior, so that the light is more even.

2. Keep the sun to your back. Yeah, we’ve all heard this one… it’s a rule that is meant to be broken. But when it comes to shooting houses it’s a pretty good one to stick by. The sun rises in the East, and sets in the West, so figure out which direction the front of the home is facing before you plan your shoot.

3. Take a look up at the sky. Is it overcast? Unless you’re a photoshop whiz you might want to wait until the weather gives you a nice blue sky, even if it is partly cloudy. Anything is better than looking at a hideous blown out white or “doom and gloom” dark sky. A bright overcast day is excellent if you’re taking features of the building where the sky isn’t showing. It will give you shadows that are less harsh, and a nice diffused style of light.

4. Stop down your lens and place your camera on a tripod. If you have some sort of manual control like Av mode, set your f-stop (aperture) to the highest number possible. Make sure you use a tripod, otherwise the shutter speed will be way too slow, causing blur from camera shake. There are full height basic tripods at the local department stores priced as low as $10. If you have one – landscape mode might also allow your camera to get the smallest aperture possible, allowing for the largest depth of field while shooting handheld. This will ensure that you get the most of the home and property in focus (not just one or the other).

5. Try to remove distracting elements beforehand. Does the homeowner have their kids toys laying all over the front yard? This is just common sense.

6. Keep your listings updated! We’ve established that you’re busy, but if you have a listing that still has snow in the yard when it’s June… I mean come on, do I really need to even explain?

7. Make sure you show enough images, but not too many. You want to leave a little to the imagination while featuring the property’s best features or highlights. 8-12 images is a good number. It’s enough to give a nice overview, but not enough to cause the potential buyer to neglect wanting to check it out in person.

8. Don’t forget to capture the home along with part of its surroundings. Step back… possibly even further than you normally would. Capture the home from across the street, or even further if you think it would help a potential buyer envision its situation or property size. This just may help your property stand out from the crowd in the sea of listings.

All of the above tips will work for commercial or industrial properties as well. With lots of practice and learning your camera, you’re going to figure out what works the best for you. If it’s not working out as well for you, maybe photography just isn’t your cup of tea. You can always consider getting some help from a professional. Higher end listings might be worth the extra cost of hiring a professional, while most mid-range priced houses won’t.

Article Source: www.arenacreative.com

7 Important Ways for Real Estate Agents to get Started with Internet Marketing of Their Business

2010-09-28T15:22:00.000-07:00

Nearly everything below is free or very affordable, however you must be willing to invest the time for setup and a certain amount of time every day to work your plan. If you’re not willing to do that, then hire someone to set you up and assist you to get started or don’t do it at all. This is by no means an overnight success for getting found online.

1. Have a Blog that is geared toward your real estate marketplace, community and real estate laws and home-ownership.

Write to your audience with good, interesting content
Use good keywords that relate to your business and community
Include links to resources, sites, and points of interest & a photo on each Blog post
Use widgets for email sign-up, RSS, older posts, and links
Use key Plugins and Widgets for Social, Optimization, and other time saving goodies

2. Use a second Blog platform (Amplify or Posterous) to share interesting business and real estate events from Inman, REALTOR.org, etc.

Share your posts on Facebook, LinkedIn, and Twitter
Bookmark your Blog posts and others in categories to share
Use Add This Button for sharing on Delicious, Digg, StumbleUpon and others

3. Google Tools

Google Profile: Make it complete with links to all your other sites, Blogs, and Social media profiles.
Google Reader: Wonderful for research, staying abreast of industry news, innovations, and community. My favorites include Mashable, Inman, RISMedia.
Google Alerts: Setup Google Alerts on yourself, your company, your competition, your community and real estate in general. This will alert you on timely matters and news.
Merchant Center/Googlebase: Excellent place to promote and advertise your business, featured listings, coupons for free market evaluations, etc.

4. Use Facebook

Profile: Use a photo, complete your profile with keywords that will relate to you, your business, and interests. Brand your page with your name. Example: www.facebook.com/chadprull.realtor. This is better than having all those numbers connected to your address.
Business Page: You can get this page branded and customized to match your website or Blog (Fee involved) or use some of the applications included with Facebook.
Focus on Community: Places to see, things to do, events, festivals, meetings, points of interest, and other relevant facts.
Use RSS and share Blog posts to your business page.
Have a Tab set up to your LinkedIn, Videos, Business Page
Marketplace: Another avenue for promoting and advertising your listings and services.

5. Use LinkedIn

Make sure your profile is complete.
Participate in the Questions and Answers section.
Applications: Forward Twitter streams to your LinkedIn, setup your Blog to RSS into LinkedIn, post your recommended books.
Build your recommendations up to 12 plus from key local community business people and centers of influence.
Complete a Resume for your LinkedIn geared toward real estate. Remember you wake up unemployed every day. Your resume should highlight your career successes, education, and accomplishments.

6. Use YouTube

Set up a Profile and YouTube Channel for your Business.
Use YouTube to do quick real estate market updates for your community, discuss community events, grand openings, and other items of interest that can be shared. Keep these videos to under 2 minutes.
Share your updated videos on Facebook, LinkedIn and Twitter.
Upload appropriate videos to your Blog.

7. Use Twitter

This Profile can only be 140 characters or less, so focus on your community, real estate, homes, services, and a link to your website or blog.
A Photo or Avatar is a must. Example: twitter.com/TheRehabAgent
Share, Thank, compliment often (3 to 1 rule).
Re-Tweet others Tweets that are interesting and informative.
Don’t sell – provide links to further information.

This may appear to be basic, however most real estate agents have not yet designed a plan to make sure they are being found online. Some real estate agents have good intentions, set up a few sites and forget about them. This is worse than not having any profiles at all.

The guidelines above can be expanded over time; however, it’s just a plan to get you started in the right direction. Remember that your goal is to drive traffic to your listings, your services, and develop relationships that will result into a face-to-face contact. This is still a “people business.”

Article Source: www.futureofrealestatemarketing.com

Ensure Your Listing is the One that Stands Out!

2010-09-16T09:24:00.000-07:00

Nearly 90% of potential home buyers begin their search online. Buyers want as much information online as you can possibly give them and they don’t want to pay for it nor be required to register for it. By offering floor plans of your listings online, you are adding ammunition to your arsenal of information for buyers.

Here's another interesting statistic for you, according to Rightmove, a leading magazine for real estate agents in the UK, properties marketed with a floor plan generate a whopping 30% more interest than properties without one. Reasons to use floor plans really don’t get any clearer than that!

Set yourself apart from the competition. Here are a few programs to try out and create floor plans for your property listings:

1.- Floorplanner.com
With this program, you enter the dimensions and create the 2-D, 3-D and interactive floor plans yourself using the online tools. Add your logo and print in hi-res for print marketing pieces. The interactive floor planner offers a huge library of textures, fencing, and furniture. Pricing starts at $29/month and you can try the service by creating your first floor plan for free.

2.- Diakrit.com
Diakrit is an online tool where you upload a sketch of your floor plan and Diakrit’s designers create 2-D, 3-D, 3-D Special (with light and shadows), furnished or unfurnished renderings per your request. Turn-around time is next business day. Prices start at $19.95 per floor plan.

3.- Sweethome3D.com
A free, open source program that you download and save to your computer. The user then enters the dimensions of the home and can then view 2-D and 3-D versions of their floor plan. A limited library is available for furniture placement.

4.- Gliffy.com
Gliffy is a free online diagram software where you can create floor plans as well as flow charts and technical drawings. It also features a “share” tool where you can invite friends to view your creation or blog about it. Gliffy can also be added to your Google Apps. Basic accounts are free for up to 5 floor plans and premium accounts start at $5/month.

5.- Floorplanonline.com
This program gives you the option of self-service or full-service floor plan creation. You can choose to sketch the floor plan and take your own pictures, or have someone come out and do it for you, or a combination of both. You can link your creation to Realtor.com and/or other sites. Prices start at $59 for a self-service floor plan and $179 for full-service.

With so much competition out there, savvy marketing is crucial. If you are already using any floor-plan technology tool, let us know your thoughts.

Article Source: futureofrealestatemarketing.com

Mortgage rate up to 4.35 percent

2010-09-09T13:21:00.000-07:00

Mortgage buyer Freddie Mac says the average rate for a 30-year fixed loan was 4.35 percent, up from 4.32 percent the week before. It was only the second rise in the past 12 weeks. Last week's was the lowest number since Freddie Mac began tracking rates in 1971.

The average rate on a 15-year fixed loan remained at 3.83 percent after falling last week. It's still the lowest rate on records starting in 1991.

Mortgage rates moved higher following a series of more upbeat economic readings prior to Labor Day. The August jobs report wasn't stellar, but it wasn't as dour as expected, and this was a catalyst for investors to move into riskier assets. In doing so, investors sold safe-haven Treasury securities, to which mortgage rates are closely related. The path of mortgage rates will be determined largely by investors' sentiment about whether the economy is getting better or worse, and will continue to yo-yo up and down amid conflicting economic readings.

The last time mortgage rates were above 6 percent was Nov. 2008. At that time, the average rate was 6.33 percent, meaning a $200,000 loan would have carried a monthly payment of $1,241.86. With the average rate now 4.58 percent, the monthly payment for the same size loan would be $1,022.90, a savings of almost $219 per month for a homeowner refinancing now.

Don't get left behind, if your ready to purchase a home, get your mortgage as soon as possible.

Article Source: AZCentral & Bankrate

Gov't launches plan to help ''underwater'' borrowers

2010-09-07T15:04:00.000-07:00

The Obama administration is trying to jump-start its sputtering attempts to tackle the foreclosure crisis with an effort to assist homeowners who owe more on their properties than their homes are worth.

The Federal Housing Administration will allow lenders to give these borrowers refinanced loans if the lender agrees to forgive at least 10 percent of the original mortgage amount.

The plan, which was announced in March, is being made available starting Tuesday.

The FHA said in a document published last month that between 500,000 and 1.5 million homeowners are projected to be helped.

However, the Obama administration's previous efforts to stem foreclosures have fallen far short of expectations. Analysts at Barclays Capital estimated last month that the refinancing program would only aid between 200,000 and 300,000 homeowners.

U.S. 30-Year Mortgage Rate Declines to Record 4.32%

2010-09-02T16:08:00.000-07:00

U.S. mortgage rates dropped to a record low once again, reducing borrowing costs for homebuyers as demand slumps.

The average rate for a 30-year fixed mortgage fell to 4.32 percent in the week ended today from 4.36 percent, Freddie Mac said in a statement today. That was the lowest since the McLean, Virginia-based company began compiling the data in 1971. The average 15-year rate was 3.83 percent, also a record.

Low home-loan rates have yet to boost home sales, depressed by unemployment and the end of a federal homebuyer tax credit. Sales of new and previously owned homes fell to the lowest level on record in July, according to reports last week from the Commerce Department and National Association of Realtors.

The number of contracts to purchase previously owned houses unexpectedly rose in July, a sign the market may be starting to stabilize. The index of pending home resales rose 5.2 percent after a revised 2.8 percent drop the prior month, figures from the National Association of Realtors showed today in Washington.

The decline in rates has spurred a surge of refinancing as Americans seek to reduce payments. The Mortgage Bankers Association’s index of refinancing rose 2.8 percent in the week ended Aug. 27 to the highest level since May 2009.

If you have any questions regarding the possibility of refinancing your home or applying for a new mortgage loan, please feel free to contact me. Now is the perfect time to buy a home!

Picture & Article From: Bloomberg

2 New Federal Programs to Help Borrowers Pay Their Mortgages

2010-09-01T14:33:00.000-07:00

The Obama administration plans to take two new steps in the next few weeks to help struggling homeowners pay their mortgages, said Shaun Donovan, the secretary of Housing and Urban Development.

The administration will begin a Federal Housing Administration refinancing effort to help borrowers who are struggling to pay their home mortgages, and will start an emergency homeowners’ loan program for unemployed borrowers so they can stay in their homes, Mr. Donovan said on “State of the Union” on CNN. “We are going to continue to make sure folks have access to home ownership,” he said.

Sales of new homes unexpectedly dropped in July to the lowest level on record, signaling that even with cheaper prices and reduced borrowing costs the housing market is retreating. And sales of existing houses declined by a record 27 percent in July as the effects of a government tax credit waned. Reasons why the administration is taking these additional steps to make sure the market stabilizes and recovers.

5 Tools to Turbo-Charge Your Social Media

2010-08-31T11:18:00.000-07:00

I've said it a million times, the importance of social media in a real estate professional’s marketing plan is undeniable.

Consumers now receive their information through different outlets like the internet, smart phones, I-pads and more. Rather than picking up the newspaper they may receive their news online, rather than looking up for a service provider in the phone book, they will look on Google, Facebook connections, etc. In a world where billions of people use the internet as a place to go for information about products and services, a real estate agent cannot afford not having a strong online presence.

There are many different approaches as to how to best implement a social media strategy, the need to streamline the SM integration process on a day-to-day basis grows constantly. There are 5 great tools than can help you to effectively manage time and increase efficiency:

1. Tweetdeck – Initially made as a desktop application for Twitter, now it has grown to incorporate Facebook, Myspace, Linked In, and the most recent updates include Google Buzz and Foursquare. The purpose of Tweetdeck is to connect the user with contacts across different social media outlets, allowing you to tweet, update Facebook status, change Myspace user moods and much more all from a single application. And the fact that it supports iPhone, iPod Touch, and iPad makes it a mobile command center for all your social media needs.

2. Gist – Although still in the beta stage, you can consider this to be your ultimate Customer Relations Management (CRM) for social media. This application allows users to combine contacts across multiple mediums and organize data based on contact priority, thereby providing a full view of your social network. Gist will continue to be my social media CRM of choice, especially as it has an app specifically tailored to work with Gmail.

3. Roost - In order to establish and maintain a successful social media presence it is critical to provide useful/relevant information. The Roost application for Facebook, aptly named Social Real Estate, is a free, easy-to-use tool that gives consumers the information they want and agents the ability to further engage their target audience. Data includes Altos Research market stats, walkability scores, education info, and a market snapshot. Not all real estate markets are available yet, but expect big things from this forward-thinking company.

4. Chatterbox - The more people you follow on Twitter, all the ‘chatter’ makes it more difficult to stay updated on the topics that matter most to you. Chatterbox allows users to organize and prioritize their tweets based on keywords, Twitter handles, tags and an assortment of other criteria. Think of it as your single-point of reference for all your Twittering needs. This tool is of particular use to large real estate brokerages that have strong Twitter presences, as it allows specific areas to be assigned to individual agents who can better engage followers with timely responses and local expertise. Although currently it only works for Twitter, look for other services to be integrated in the future.

5. Social Radar - Social Radar by Infegy provides users with the ability to get updated information of what is being said about them. It scours the ends of the Internet, literally billions of messages 24/7, so you don’t have to.

As the hours in the day seem to be getting shorter and there are always more things to attend to, it is important to use technological advances to work more efficiently.

If you are using any of these tools please let me know what you think.

Article Source: Future of Real Estate Marketing

Twitter for Real Estate?

2010-08-26T15:08:00.000-07:00

I know what you're thinking: "Twitter? Really? You can't be serious", and I completely understand. However, keep reading and I will explain why you should not dismiss Twitter just yet.

Twitter could serve as a powerful tool in three specific areas:

1.- Networking.

As a real estate agent, what if you tweeted out great local content, community info, little known facts about your area, real estate news and market reports for your community? You are probably sending that type of stuff out anyways via postcards or email – right? Why not take that same info and turn it into 20 different tweets?

Followers will "retweet" your information for their own followers to see and your message will be reached by a much wider audience. It's word-of-mouth advertising that is priceless!

2.- Business.

Do a search on Twitter: Type in: “______ Realtor” (fill in the blank to whatever city you serve – i.e. New York City Realtor) – see who is looking for a Realtor in that area and add them as a follower! Also, don’t be shy about inviting people to follow you on Twitter. Download your database into a .CSV file and then upload it to Twitter. You can then choose who you’d like to send a Twitter invite to. The more people you follow, the more will follow you!

People that could become a great source of leads should be another great addition to your followers list, i.e. Mortgage Brokers, Bankers, previous clients, etc. So follow them and invite them to follow you.

3.- Exposure.

As a real estate agent, the exposure you could receive by being on Twitter is enormous! Your ideas and news are distributed to a much broader audience than traditional marketing and the only cost is time.

Make sure you ask people to follow you on Twitter. Add the link to your email signature, any print materials, your listing flyers, postcards, the home page of your website – anywhere where someone may want to contact you!

Do you need more reasons to use Twitter? Here are a few more:

Twitter is free
Twitter is very easy to use
Twitter is Fun and Interesting

Give Twitter a try. If you are already using Twitter for your real estate business, I would love to hear your thoughts, leave me a comment.

Source Info: http://www.futureofrealestatemarketing.com/2010/06/22/tip-tuesday-top-3-reasons-why-twitter-matters/

6 Great Tips For Marketing a Listing Through Social Media

2010-08-25T13:44:00.000-07:00

Social media is not just for kids anymore. Savvy business people and consumers are relying on Facebook, Twitter, Blogger and other social media sites for commercial and financial applications that go far beyond befriending your neighbor.

Sharp Realtors, along with home sellers and buyers, are increasingly using social media to market properties in a sometimes frustratingly slow market. The advantage offered by social media is outreach to a wide-reaching audience, targeted to your specific topic.

It is important to understand that to be successful with social media you need a strategy. Here's what you should know:

1.- Select your Tools.

To lay a foundation for a social media campaign, identify which social media channels will be most effective for you. To market a home, you could consider:

- Launching a website and/or Blog
- Producing home-tour videos, uploaded to your site and to YouTube.
- Updating your Facebook page to let friends know the house is for sale.

2.- Make the home the star.
Creating a Facebook page to market an individual house or all your company’s listings is a strong way to showcase real estate. Post photos and information on Facebook, knowing that while many fans and friends are not currently in the market for a home, they’ll often forward the listing to friends who are. A listing that is passed from one Facebook page to another generates a great deal of exposure.

3.- List the home on Facebook Marketplace.
If your Facebook friends are using marketplace, it’s worth listing the property on Marketplace. Marketplace serves as Facebook’s classified ads which prompts your contacts that a listing has been posted.

4.- Cast a Lure.
Is there something unique and exciting about the home? Use that information as a lure to create buzz. For example, a recent Twitter campaign drummed up interest by focusing on the fact that the residence was near many celebrity haunts. A few sample Tweets:

“Madonna just bought a town house two blocks away.”
“Justin Timberlake’s Southern restaurant is right around the corner.”
“Carrie, Miranda, Charlotte and Samantha filmed ‘Sex and The City 2′ right around the corner.”

Each Tweet included a link to the Realtor's listing so people could learn more right away.

5.- What makes it special?
Appeal to whatever is happening in other areas. Do you live in sunny Miami? In early January when temperatures around the country are brutally cold, post Facebook and LinkedIn reminders that it is 70 and sunny in Miami and provide a link to the listing. Is the home on a beautiful lot with grass and trees? Post information in large urban areas. Remember that old say that “the grass is always greener on the other side” and attract attention by showing people what they could have.

6.- Remember “strategy, strategy, strategy”
Facebook, Twitter and others can be tremendously valuable tools for selling a home. However, posting too often or repetitively can quickly turn into spam. Don’t post unless there’s something truly relevant to write about, like specific features, a large property, or other detail. Above all, tweeting and re-tweeting the same posts is almost guaranteed to thwart your own effort.

Ultimately, social media, used shrewdly, is a boon in the arsenal of real estate selling and marketing techniques. Put them to work effectively and enjoy the fruits of your labors.

Info source: http://rismedia.com/2010-06-06/top-6-tips-for-marketing-a-home-through-social-media/
Picture from http://www.seogp.com/blog/

Estimated Mortgage Closing Costs Up 37%

2010-08-18T15:23:00.000-07:00

Average estimated closing costs spiked 37% nationally this year from 2009, according to Bankrate's annual mortgage fee survey.

Bankrate suggest one reason for this increase is the government requirement for lenders to provide accurate good faith estimates (GFE's) of closing costs. GFE's give borrowers an idea of how much the loan will cost to close and, until this year, were non-binding. This means that the lender could provide an inaccurate or lower statement to the borrower without being penalized. Since May, however, lenders are penalized for undershooting a GFE.

Bankrate also stated that another cause for the jump in closing costs could be the increase in expenditure labor lenders go through to comply with tighter underwriting standards and background checks.

The annual survey of online lenders was conducted by obtaining online good faith estimates for a $200,00 mortgage in the most populated city in each state, with the exception of California where both San Francisco and Los Angeles where surveyed. The survey includes lender's origination fees and title and settlement fees.

If you are in the market to purchase a home don't let this substantial climb in the average closing costs scare you. It's important to understand that stiffer regulations on lenders good faith estimates translates in more accurate estimates and less additional expenses popping up for consumers on the back end.

Arcticle Source: http://www.suntimes.com

Realtors: Market yourself to “life change” clients

2010-08-12T15:37:00.000-07:00

People going through life changing events are often prime candidates for the services of a real estate agent. By networking with these type of businesses and providing them with your information you put yourself in front of an excellent source of potential referrals. There are two types of businesses in your community that can be enormously helpful in generating referrals surrounding life changing events:

1.- Florists. A wedding, a new baby or a job promotion are some of the reasons why a family may need to purchase a new home or move up to a bigger or nicer home. By building a relationship with a busy florist and leaving some business cards for example, you make yourself accessible to these potential clients.

2.- Wedding Planners. Since newlyweds are a great source of business when it comes to first time buyers, getting your info to wedding planners may be an excellent way to attract potential buyers. Some agents have even begun attending bridal expos to work this segment.

In real estate, referrals are the name of the game. If you are a Realtor, 95% of your business most likely comes from referrals. In view of that, you should consider befriending and supporting these type of businesses as a way to generate referrals for free.

Article source: http://www.freehelpforrealestateagents.com

Should you Wait for Home Prices to Drop even Further?

2010-08-11T15:39:00.000-07:00

Everybody wants to know when is the best time to buy a home, specially in a down market. Some home buyers wait for their dream home price to drop just a little further. However, waiting for the absolute bottom to hit before purchasing a home puts you at risk of missing on the opportunity of taking advantage of record low interest rates. To learn more read the following article:

Should you Wait for Home Prices to Drop even Further?

If your thinking of buying or trading up, the time to act is now. Contact me for a no obligation consultation. I can provide you the information you need to make the right decision.

Google Applications that can Enhance a Real Estate Agent's Business

2010-08-10T18:53:00.001-07:00

Go ahead and google: "real estate professionals" and you're going to come across hundreds if not thousands of results, and among them, this very important page: Google Tools for Real Estate Professionals. The name says it all.

Due to the fact that millions of home buyers use Google to search for real estate information all the time, Goggle has decided to offer real estate professionals a variety of tools to help them connect with these potential customers. Some of these free applications are too good to pass up.

Here are 10 great ways you can use these applications to your advantage:

Google Maps. Google offers a free service that lets you make your listings easier for home-buyers and real estate agents to find when they look for properties on Google.com. Over 56% of all Internet searches on "real estate" and related terms are conducted on Google and our partner sites, and the majority of those searchers are actively looking for listings or referrals to brokers and agents.
Submit your Listings to Google. You can make sure that people can find your listings by submitting them to Google. By providing your real estate listings to Google, you will broaden your distribution and receive free traffic and leads through natural search results on Google properties. Real estate search results will be displayed on Google Maps, allowing users to immediately zero in on the neighborhoods most attractive to them. To learn more about how to upload your listings on Google click here.
Google Maps API. You can also place interactive maps on your own website using the Google Maps API. Display your listings on detailed maps and satellite imagery and give your users a visual, intuitive way to find the property that is right for them.
Google Earth. Give your agents and clients the power of 3D satellite imagery with Google Earth Pro. Exceeding 200 million downloads, Google Earth has redefined the way people interact with real estate and property information. Learn more about Google Earth Pro and download a free seven day trial.
List your business via Google Places. Over one-third of people looking for real estate information on Google are searching for agents or brokers. You want your name and address to be displayed when they search. Google Places gives real estate professionals an easy way to submit business listings. Submit multiple locations with a data file and conveniently manage and control listings. Put yourself in front of your customers when they're trying to find you.
Google SketchUp. Market and sell homes with Google SketchUp Pro, a deceptively simple, amazingly powerful tool for creating, presenting, and modifying 3D models. Model your properties in Google SketchUp and give your clients a 3D view. Enhance your website listing by using the animation capability. You can also use Google SketchUp Pro to print to high-resolution devices, place your models in Google Earth, and post them to the 3D Warehouse. Learn more and download a free 8-hour trial.
Gmail and Google Apps. Communicating with colleagues, clients and other agents is essential to every real estate professional. Google offers a package of simple and powerful tools that you can use to communicate and collaborate more effectively, for less. Best of all, there's no special hardware or software required, so you can be up and running with Google Apps with minimal hassles. Learn more and get started today.
Create a Google profile. When you've created a business based on your name, you want to be easily discoverable. Create a Google profile.
Create a YouTube channel to showcase your listings in a dynamic format. Allow your listings to sell themselves and give home buyers the ability to pre-screen potential homes before they contact you by creating a YouTube channel. YouTube actually reaches the specific audiences you are looking to reach: real estate buyers and sellers.
Google AdWords. This application provides effective and efficient local lead generation. Google AdWords is the leader in cost-per-click keyword advertising because we offer a measurable, pay-for-performance solution that is 100% accountable. You determine your costs based on your own objectives.

Take advantage of these fantastic tools today. To learn more click here.

QR codes: a mobile entryway for real estate listings

2010-08-01T20:06:00.001-07:00

The future of Real Estate: connect printed marketing materials to smartphones.

Real estate marketing is getting ever more mobile, but one of the most effective tools an agent has is still that iconic printed yard sign.

For those agents interested in directing potential clients from printed materials to the ever-ubiquitous smart phones in their hands, startups specializing in QR (Quick Response) codes are springing up.

A QR code is essentially a two-dimensional barcode that can be read by smart phones or dedicated QR readers, similar to the codes scanned at a store checkout.

The codes can be attached to printed materials -- such as yard signs, fliers, postcards, business cards, etc. -- and consumers can snap a picture or scan the code through a mobile application on their iPhone, BlackBerry, Android or other mobile device.

There are free QR code generators out there -- Kaywa QR-Code was used to generate this code (see sample embedded in this article) for the Inman News home page.

There are also services such as Clikbrix and Qonnect that offer unique QR codes connected to mobile-optimized websites.

For a monthly $49 subscription, Clikbrix creates both standard and mobile Web pages for an unlimited number of properties that automatically list to a real estate professional's profile Web page. For an example of an agent's mobile Web page, click here.

The property listing pages come with detailed property descriptions, a gallery of photos, a Google Map and Goggle Street View, as well as ways to share the listings through e-mail, Facebook, and Twitter and contact the agent.

The agent's own unique QR code may be attached to any printed material desired so that potential clients can be instantly directed to their mobile Web pages. Options to customize and brand a code are also available. The startup launched earlier this month.

Qonnect offers a similar service that delivers mobile content through unique QR codes, which it calls a "qonnects." The company suggests its codes are useful in offering highly targeted content, virtual tours, and in tracking the effectiveness of advertising through its analytics system.

Stay ahead with the latest technology and try the QR codes.

Article Source: Inman news

Housing prices are likely to go lower...

2010-07-30T15:01:00.000-07:00

Thought the housing crisis was over? Not quite.

Despite four years of falling prices and recent signs that they were finally bottoming out, homes are expected to lose still more value in many metro areas over the next year.

Parts of the country already pummeled by the housing crisis, like Phoenix, Las Vegas and Miami, will be hit hardest. Even some places that have rebounded or held up relatively well - including New York, Los Angeles and Washington, D.C. - will suffer, too.

That's the conclusion of economists who have been reducing their estimates for home prices as the outlook for the economic recovery has darkened. The number of homes for sale or headed for foreclosure is so high that they think prices will be even lower by next July.

Earlier this year, analysts said they thought home prices had finally reached their low point and were ready to start rising slowly in most areas of the country. Now, they think the bottom could be nearly a year away.

Price drops of more than 10 percent are expected in the Phoenix, Miami and Las Vegas areas over the next year, according to Moody's Analytics. Those areas have already been scorched by 50 percent declines in home values.

Home prices in the Valley have dipped 4 percent in the past month. Until the recent decline, the region's home prices had been inching up since spring 2009.

Based on pending sales prices, Phoenix housing analyst Mike Orr has forecast that home prices will continue to fall in August.

Many analysts expect home prices to rise for a few months because a tax credit offered to home-buyers through April increased demand. But the gains probably won't last. By this time next year, Moody's expects prices in most of the cities to have fallen.

More foreclosures are expected as Americans fall behind on mortgage payments. Foreclosures add to the supply of homes for sale, bringing down prices. On top of that, so-called short sales, which happen when lenders let homeowners sell their houses for less than what they owe on their mortgages, are rising. They can drive down the value of neighboring homes, too.

Short sales account for about 28 percent of all Phoenix home sales now, compared with 21 percent in June. In Sacramento, short sales made up about 26 percent of homes sold in June, up from about 17 percent a year earlier.

Contributing to the problem is an economy grappling with high unemployment, relatively flat pay and tightened credit, all working to limit the number of people buying homes.

Fun Friday - Watch the TBWS Daily Show...

2010-07-23T16:46:00.000-07:00

Real Estate Industry News and Daily Sales Nourishment.

Mortgage banking profits down per loan. HUD to investigate mortgage lenders who discriminate against expectant moms, and more... Watch the TBWS Daily Show...

Great news for Realtors

2010-07-22T16:48:00.000-07:00

Federal Reserve Chairman Ben Bernanke testified to Congress yesterday and boy did his words moved the markets, stocks went tumbling straight down. However, bad news for the economy could mean good news for home buyers and real estate investors as Bernanke also affirmed that low interest rates are still needed to boost the economy and repeated a pledge to keep them there for an "extended period".

As rates on 30 year and 15 year fixed rate loans continue to decline, applications for home loans rose nearly 7.6 percent last week.
Low mortgage rates along with a wide selection of affordable homes make an optimal home buying opportunity, great news for real estate agents, investors, mortgage lenders and anyone associated with the real estate industry. The time to buy has never been better!

Foursquare: Does it Have a Place in Real Estate?

2010-07-19T23:09:00.001-07:00

Foursquare is more than just the latest fad. It is clear that foursquare can provide some relevant feedback if you are a location owner and want to follow who is or has been checking in and who is frequently your organization. But what about real estate? Here are just a few thoughts on some uses for foursquare.

Listing agents can add their listings to foursquare as a tracking and feedback mechanism. Imagine that every showing was accompanied by the showing agent “checking in” and using the tip as feedback. Listing agents and homeowners alike can check and see who is showing the property and how often they are coming back.
Take that same thought and imagine the prospecting tool you have if you are interested in pursuing expired listings.
Use foursquare to track attendance at office tours, caravans or meetings.
A fun contest idea to get a specialty tour of featured homes (i.e. check in from an open house you’re holding, with a prize for the first visitor to arrive who saw your post on Foursquare)
Build neighborhood or condo check in and compete for “mayorship”. I can see where being Mayor of a particular neighborhood could be of real value on a listing presentation.
Foursquare can build your client network, especially with people who haven’t heard of you. Foursquare is rapidly growing and expects to hit 1,000,000 users this week!

Looks like foursquare might just be another social media application that has found a home in real estate. Don’t let the foursquare opportunity pass you by!

Fun Friday - The Real Estate Agent from Hell...

2010-07-16T13:50:00.000-07:00

Here are a few very funny quotes from really rotten realty.com:

Looking for a home with specific qualities?
We will work with you to find out what you are looking for in a home, then we’ll show you the homes we wanted to show you before we pretended to care about your needs.

Worried about getting pre-approved by a mortgage company?
Why bother? That takes all the fun out of home shopping. We’ll figure all that math stuff out after you fall in love with a home you can’t afford.

We hold open houses every week for our clients.
We’ve never actually sold a listing by holding open houses, but we have attracted lots of new customers to our agency by using our client’s homes for our own personal gain. Plus it’s fun to rummage through our client’s personal belongings and if we’re lucky there might even be something good in the refrigerator. We’ll hold as many open houses as you like. It’s the least we can do.

Want your house advertised by a professional?
We believe in the 3-P’s of real estate marketing: Put, Put and Pray. Put a sign in the yard, Put it on MLS and then Pray someone will come along and buy it. We usually find that after enough time passes, and after several price drops the house usually sells itself without too much intervention from us. That’s an easy commission earned. We like easy.

Have a great weekend...

Real Estate marketing tips using location-aware applications

2010-07-16T09:33:00.000-07:00

Location-based mobile applications are not the future, but the present. Applications like Foursquare and Twitter are not only helpful to clients interested in learning more about their neighborhood, they can also offer you simple ways of finding potential buyers.

50% of buyers will use mobile applications in the next 24-36 months.
It's no longer about the device. It's about the application.

Don't get left behind. To learn more read the following article:

Location-based, location-based, location-based | Inman News

Mortgage Rates Hit New Record Low...

2010-07-08T20:23:00.000-07:00

Mortgage rates have dropped to the lowest level in more than five decades. Freddie Mac, the second largest mortgage finance company in the U.S., reported today the average rate for a 30-year fixed loan sank this week, hitting a new record low of 4.57% for the third week in a row. Rates on 15-year fixed-rate mortgages fell to an average of 4.07% and five-year adjustable-rates were also down to 3.79% from a week earlier, the lowest on Freddie Mac's records, which date back only to January 2005.

The incredible low rates have been great for homeowners looking to refinance their homes and even new home purchase loans have increased nearly 9% last week from a week earlier, the Mortgage Bankers Association stated Wednesday. However, this is still just half of what was reported in 2009.

Whatever the reason for these unbelievable low rates is, one thing is clear: these are the lowest mortgage rates in history! If you are looking to refinance your home or if your looking to apply for a new mortgage loan, the time to act is now! Please do not hesitate to call me for a no obligation consultation.

Chris Davis
Senior Loan Officer

Mobile: 602.686.9752
Fax 480.223.6369

chrisd@vipmtginc.com
www.vipmtginc.com

Home Financing Do's and Don'ts

2010-07-07T13:12:00.000-07:00

The following are some helpful tips we have collected over the years to ensure that your loan process goes smoothly and has a timely close.

DO'S

Inform V.I.P. Mortgage Inc. of any changes to your information (employment, credit, address, marriage, divorce)
Save money

Continue to make your mortgage or rent payments

Stay current on all existing credit accounts

Save all pay-stubs, bank statements, W2’s etc.

Pay ALL bills on time

Keep current employment

Read all correspondence from V.I.P. Mortgage

Make sure all earnest money is from an acceptable source (checking, saving, 401k, etc.)

*Always call me if you have any questions*

DON'TS

Quit your job

Buy any major purchase that might affect your credit (i.e. furniture, cars, appliances, etc.)

Apply for new credit, "same as cash deals," etc., elective procedures

Pay on ANY bills late or payoff current or delinquent debt unless we inform you to

Transfer balances between accounts

Start major home improvement projects

Make large deposits into a checking/savings account

Take out a new loan

Pay off any collections or loans without speaking with us first

*Always call me if you have any questions*

TBWS Daily

2010-07-02T23:30:00.000-07:00

Real Estate Industry News and Daily Sales Nourishment.

Foreclosures, the Tax Credit Extension, and more... Watch the TBWS Daily Show...

Fannie May changes their position on Short Sales & Foreclosures

2010-07-02T15:22:00.001-07:00

The announcement also clarifies that the term "short sale"and "pre-foreclosure sale" mean the same to Fannie May.
The existing policy states that you could be eligible for a loan within 2 years after a "pre-foreclosure sale"; however there was no official policy for "short sales". Now, since both terms are considered to be synonymous, this policy will apply for short sales as well.
So now as long as you can short sale your home or agree to a deed in lieu, you can qualify for a mortgage loan just after 2 years with 20% down.
Fannie May will still require 5 years to re-establish credit for borrowers who cannot short sale a property or agree to a deed in lieu and instead loose their homes through foreclosure.

Here's the breakdown for eligibility depending on how you got out of your last mortgage:

Deed-in-Lieu of Foreclosure: reduce from 4 years to 2 years with 20% down payment, or 4 years with 10% down payment.
Pre-foreclosure Sale: current waiting period is 2 years. New policy is 2 with 20% down payment.
Short Sale: same as pre-foreclosure sale.

For more info, please see:

https://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2010/sel1005.pdf