ActiveBob.....It's always Raining!

Implied obligation......

What does that mean.......I believe that in our professional lives it means we are obligated to inform our clients about their options, and share with them our knowledge first and our opinions second. I believe that for the same reason our clients trust us, we are obligated to speak truthfully. I say this only because so often, people in our industry slant their answers to avoid the embarrassment of not knowing. They are  not professionals, though you would never know it by the way they present themselves publicly. There is absolutely nothing wrong with saying; "I Don't know....But let me get the right answer for you."

I spent a great of time perusing Active Rain looking for opinion and/or philosophy that will inspire me at the age of 40. I realize that many of you are much older and some of you have a bit more experience or education. But what I find perplexing, is thread of complacency commonly noted among  Real Estate Brokers and Agents. The complacency of which I speak is the overwhelming acceptance of unfair banking practices. As clients are led to lenders by Agents and Brokers alike, we are in essence passing our customers off to the very people that will enslave them financially for the next thirty years. With our endorsement of the lenders integrity our clients are never truly informed of their options.

Let me explain.......When was the last time you as a Broker or Agent shared with your clients the your knowledge of interest? Not Rate....Interest! Now I know that many Brokers and Agents will say....That's not my job....or We are not allowed to discuss financing.....Or my favorite.......We have classes that our First Time Home Buyers can attend for free to help them. STOP! I'm not talking about Terms of a Mortgage or even Fixed vs. Arm's. I'm talking about the concept of Compounded Interest. The charge for the average daily balance for the use of the money to purchase the home you are selling them, that will effect your client for the better part of their life on this planet.

The reason I ask is due to the obvious lack of proficient knowledge to even comment on this topic that is epidemic throughout the real estate community. I have read endless comments that possess arrogance   and attitude of their supreme understanding of Neg Am/Option Arms, Arm's in general, Balloons and Acceleration/Heloc's. I have read blogs that call lenders, brokers and bankers snake oil salesman that sell only what their told to sell without the foundation of knowledge or the effect their product will have on clients. WOW! Do you realize how silly you sound when your not informed. I agree...some bankers are scrupulous.......So are some Agents.

BUT Somebody tell me that they understand interest and that they inform their clients truthfully. Tell me that before you offer your opinion about Mortgage Acceleration you really have a grasp. Tell me that you are not advising against something that could insure your clients financial stability for years to come..

Please comment......But not until you have done a tiny bit of research......Please!

I promised my Grand Father when I was young that:

I would not speak of which I was unaware as if I was........It was a good promise. He was a brilliant man!

Kirk Moore

www.mortgageaccelerator2008.com

"Market value is what a buyer in any given market is willing to pay for your home given the current conditions... based on what other homes are available and who is looking to buy at that particular time."

I coorelate market value to a credit report, it can change frequently and it just depends on the day the credit report is pulled.

In the Ann Arbor area marketyour house ABSOLUTELY had to be "priced to sell". The market is changing and CMA's need to be updated every couple of months.

For instance, I sold a home in Meadowinds, in June for 380,000. (yes that is the correct legal spelling) It sold in 4 days and was listed at 385,000. It was owned by a decorator and the colors were wild. Her daughter's bedroom was orange, the gathering room was purple.  Nice home, on a cul-de-sac. But, obviously the new owner was going to need to paint.

Because I was able to get a contract so quickly the neighbors next door trying FSBO, called me. There house was in much better shape, neutral decor, better floor plan. I listed it at 398,000. (Their price as a FSBO) This was at the end of July; we reduced to 389,900 a few weeks later. Then we reduced it again to $385,000.

We had 5 offers on it all around the $365,000.

I convinced my sellers on offer number 5............"Look, the market has spoken". All five offers are coming in at the 365,000.00 range.

So only a few months later, in Meadowinds Subdivision, the second home sold for much less than $389,900.00 The second home had a better floor plan, less work to do, same square footage, both with finished walk-out basements sold for less.

In Ann Arbor the market peaks in July every year. We experience over 74% of our closings by the end of August. What happened? 

Market values change, it is a moving target.

Rationally one would expect to get the same value or higher on the more updated home, with more amenities and less work. Yet, the market spoke at $365,000.00.

Again: "Market value is what a buyer in any given market is willing to pay for your home given the current conditions... based on what other homes are available and who is looking to buy at that particular time."

Current homes in Meadowinds are priced at: $328,000.00 and $298,000.00

Other homes the Missy Caulk TEAM has sold in Meadowinds are:

1956 Harley

1980 Harley

1930 Harley

1968 Harley

The annual Burlington County Farm Fair started today (6/23/08) and will continue through until Friday evening.

This is a great time out for the family to enjoy rides, food, 4-H judging, arts and crafts; and seeing antique equipment, cows and other farm livestock up close, and watch the pig races!

In addition to the pig races, there will be lots of fun contests throughout the day, including children's tractor pull, men's spike driving contest, milking contest and a woman's skillet throw.   Various animal shows will occur for sheep, horses and cows, plus live entertainment by local performers.

The fair is held in Lumbertown Township, along Rt. 541,   Farm and 4-H related events start at 9 a.m. in the morning and rides start a 4 p.m. and continue until closing each night at 11 p.m.

For directions and more details, see the Burlington County Farm Fair web site.

Copyright 2008 by Lawrence Yerkes. All Rights Reserved.

We are going to be down in San Francisco for the next three days attending the Inman Real Estate Connect Conference. We thought it would be cool if we were able to crack the 100,000 member mark while we are down there. We are just over 1000 people away from hitting that milestone right now. In a normal week, this would take us between 4-6 days (we average about 180-200 new members a day). It doesn't take a math major to see that in a normal week, we wouldn't crack 100,000 in the next three days. (here is my shameless plug letting you know I was on the math team in high school and we placed second in state two years in a row......I never pass up an opportunity to tell someone that.......although these days I need my HP48G calculator to add any numbers over double digits, haha)

Here is where you may be able to help us. Jon and I concocted up a little scheme to get you to put the pedal to the metal for the next three days for inviting new members to join ActiveRain in hopes that we can hit the 100K mark before Thursday.

Anyone who invites a member to ActiveRain, that joins the network and confirms their account on the day that we hit 100,000 members will be given some bonus points. The bonus points will coorelate to the day that we hit the mark.

• If we hit 100,000 members on Tuesday, July 22nd, anyone who invited someone that joined that day will get 3000 bonus points
• If we hit 100,000 members on Wednesday July 23rd, anyone who invited someone that joined that day will get 2000 bonus points
• If we hit 100,000 members on Thursday July 24th, anyone who invited someone that joined that day will get 1000 bonus points

The quicker you help us get to 100,000, the more points you are going to get. Is this shameless pandering to break the 100K mark? Yes it is. Are we above shameless pandering so that we can have something fun to talk about while we are at Inman Real Estate Connect? No we are not.

Your call to Action: Get on the phone, remind the people you've already invited, that haven't joined what they are missing out on. Send 12 emails to those in your sphere that aren't taking advantage of the benefits of ActiveRain.

Brad Andersohn also created a great 'Getting Started Tutorial" that you can include in your emails to your friends. It really helps streamline the process of getting started on ActiveRain.

(disclaimer: You will only get the bonus points once. So if you invite 12 people that signed up on July 23rd and we hit 100K on that day, you will only get the 2000 bonus points for that day once.)

I have always heard of the Knight's of Columbus and that friends and acquaintances have told me they belong to the Knight's, yet I never took the time to find our whatit meant to be a Knight.  I took the plunge just about two week ago and have enjoyed it greatly thus far.

My new Real Estate partner John is a Knight and I attribute that as another in a long line of reason's why he and I are doing business together today.

If you have never heard of the Knight's of Columbus I have included the web page link for you to see all the wonderful charitable acts they work on year in and year out.

*****UPDATE****** my youngest son Kevin is taking his 1st degree in September and together we will take our 2nd dergee the same night.....what a thrill for me.

http://www.kofc.org/un/index.cfm - this is the main site

http://www.kofc7208.org/ - this is my council's site at St. Joseph's Parrish in Downingtown

The Dan Brudnok - John McGovern Team
We appreciate your referrals!!!!!!!

Keller Williams Real Estate
Dan - direct @ 610-256-7258
John - direct @ 610-331-9964
Office - main @ 610-363-4300

Click here for the most up to date Real Estate market conditions where you live......

Search the 7 County Philadelphia market for homes for sale at: www.DanBrudnok.com

400 Village Walk , Exton
http://danieljbrudnok.point2agent.com/Listing/VirtualTour.ashx?listingid=1840565
 474 Chandlee Drive, Berwyn
http://danieljbrudnok.point2agent.com/Listing/VirtualTour.ashx?listingid=1840696

• Number of homes sold second quarter for 2008 vs. the first quarter:  ^4 units
• Average SOLD price second quarter for 2008 vs. first quarter:  ^37%
• Average DOM:  <12 days>
• Average list to sale price percentage:  No Change

• There is currently 25 homes on the market in Rivermoore Park. 
• The average list price is approximately $592,000.
• Predominant price range is between $500,000-$600,000
• Highest List:  $1,099,900
• Lowest List:  $369,900

What has increased is seller concessions:

• Highest seller concessions in the second quarter:  $10,000
• Lowest seller concessions in the second quarter:  $38
• Average seller concessions in the second quarter:  $3918 vs. $135 first quarter

As indicated in the table above, the increase of average sold price this quarter over first quarter is, in my observation, a result of the price point of homes marketed and sold. This report is not intended and does not give indication of the appreciation of home values in Rivermoore Park for the time period reviewed.

List to sale price percentage first quarter 2007 was 96%; and, this percentage is remaining steady. Days on market is also doing well:  The actual days has actually declined - which is not the case for most of the market. Overall, Rivermoore Park seems to be holding up well in the market.

Come to my house:
My Suwanee Home.com

Information is believed accurate, but is not guaranteed. 

(I wrote this article over a year ago when we launched Localism in its BETA form. With the pending launch of the New Localism, it's still very much applicable ~ Jonathan)

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The end game in real estate blogging is blogging about your local geographical area of expertise. 

Why blog about the real estate industry? Why blog about the latest real estate technology that was just announced?  How is it going to generate you business? 

It isn't going to generate you much unless you are a real estate coach, someone amazingly interesting, or a company selling real estate blog sites! Home buyers and sellers just don't care. Internet home buyers care most about three things:

Listings, home values, & neighborhood information. 

Listing information can be found on thousands of agent, broker, and lead generator websites.  There was a time not too long ago that you could generate a lot of business from throwing up an IDX feed on your website. That time is no longer.

In Fortune magazine's most recent issue they did a cover story on Zillow and referred to home valuation websites as "real estate porn". However inappropriate they were in their description, I think they described the Zillow site pretty accurately. Consumers love their site and the love will only continue to grow.  It will grow out of our society's craving for "more information now". The values on Zillow are just accurate enough to be captivating, but home buyers and sellers still need a real agent to fulfill their true valuation needs.

However, I am getting off point. You've already heard all of this a million times before. What I should be talking about is:

"What should agents do in this day and age to generate business?"

The consumer's great appetite for information is being neglected when it comes to Local Neighborhood Information. When someone wants to move across country, across state, or sometimes even across town, there is no where to go on the Internet to find information about the character of certain neighborhoods, or even what neighborhoods exist.

This post really starts here: 

Localism.com is not the big picture. Localism.com is only a symbol or a glimpse at where we are going as an industry with local content.  The big picture is localizing your content. You localize your content when you geocode a post and make it available for syndication onto other sites.

Localism will not be the final destination, no more than google is. Localism will resemble more of a search engine than a national-local weblog. Don't get me wrong, the site will be really cool; it will likely generate a lot of press, rank high in the search engines, and most assuredly generate a lot of clients for the agents that are creating good content now.

But the big vision is in the action now known as localizing.

Localizing means that someday soon every local post you write will not only have city, county, and state, data associated with it, but it will also have specific latitude and longitude coordinates embedded into it.

As a consumer looks at an online map, a newspaper article, or even a local house listing, they will have the option to see the best local content written or created by their local real estate experts.

You will have the option to select which web sites/portals you would like your information syndicated to.  Or if you don't want it syndicated at all.

Every article you write will be attributed and link back to you. 

This will be our industry's chance to firmly reestablish ourselves as the center of the real estate transaction.