Optimism, Realism & Real Estate…

By John Mangas, Real Estate Broker with RE/MAX Preferred Toledo, Ohio
 
 

I am an optimistic person by nature and think of myself as a glass half full person.

Today is December 30, 2011 and I am forced to look at 2012 with one part optimism and one part realism. This is where it gets difficult.

Yes, 2012 is an election year which generally is good for the real estate industry. I’m not sure it matters this time around.

2010 was the year of the “short sale”. 2011 was the year of “robo-signer”. 2012 will be the year of____________________________(fill in the blank).

• Foreclosure
• Recovery
• Intelligent credit policies
• The 2^nd helping of price reductions
• Credit scoring reforms
• New construction
• Job creation
• Inflation

We obviously do not know, but these and many other factors affect our ability greatly to our ability of offer our clients great advise and make a living.

What we know for sure is that a significant back log of foreclosure properties need to make their way through the system. Job growth needs to occur and our economy must expand before we begin to reach an equilibrium in the housing market.

Because of their convoluted methodology, NAR’s market forecasts have been overstated by as much as 14% in 2011. That number has made it’s way into the mainstream media which undermines the integrity of our national voice. Case Schiller cranks out great information but they use data that is 3 – 6 months old. It’s great for trending, but does it really mean much to the home owner needing to get every penny out of their home? Earlier this year I was flipping through the morning news “talking heads” and their in studio real estate experts who had contradicting opinions about the future of home values. Our clients don’t know who or what to believe.

That’s where we come. We absolutely must be the local real estate expert. We must have a pulse on the market and be able to offer our clients a realistic picture of what is happening in the LOCAL Metro Toledo real estate market. No rose colored glasses, just facts and insights based our unique abilities to read what the conditions are telling us.

In 2012, let’s be extra informed so that our clients get the best information available from the real estate source…each of  us! Let’s make it our goal to keep real estate REAL in 2012!

How may I help?

By John Mangas, RE/MAX Preferred Broker/Co-Owner Toledo, Ohio

The Holidays are here!

Amid the news stories of foreclosures, government shut down, unemployment numbers, consumer spending trends, political debates etc. there was a news story that caught my attention. A small story that is huge.

It involves a man in Michigan who has gone to K-Mart and paid off the delinquent lay-a-way balances. Those families who were unable to pay off the balance due could now pick up their gifts and enjoy Christmas thanks to the generosity of this individual. The donor was anonymous which adds another layer of meaning to the story.

Across the country there are countless people helping those in need in ways most will never know. At RE/MAX Preferred we have sponsored a Christmas family that needed some assistance in the metro Toledo area every year to help them celebrate the season. This year the Toledo Seagate Food Bank asked us to help a family who was in distress. The father has a stage 4 cancer. Two of the 3 children have health issues of their own. We were asked if we could help solve the problems that occurred after a huge rain storm that resulted in their basement flooding. They needed to have a sump crock and sump pump installed and connected to an exit line. Additionally they needed the basement to be dried out. Our agents stepped up and within 24 hours work had begun. We were pleased to provide that assistance to this family.

Realtors are a giving group. Regardless of the region or company, the real estate industry steps up and helps to meet the community. RE/MAX has for years been involved with the Susan Komen for the Cure and the Children’s Miracle Network raising significant sums of money for research.

At RE/MAX Preferred, we are proud to give back and serve our fellow man and communities in meaningful ways. There is more need that we have the resources to meet, but we are pleased to contribute where we can and make a small difference, just as so many others do nationwide.

If you see a need in your community you have also seen an opportunity to get involved and make a difference. Please take a moment to look around…the real gift is the one you give yourself when you get involved.

“IT’S THE END OF THE WORLD AS WE KNOW IT… AND I FEEL FINE”

By John Mangas, Real Estate Broker in Toledo Ohio

Most of us recall the song in the title from the 1987 REM release, even if we can’t sing every word of every verse.

My thought is simple; the brokerage business has changed dramatically and the world we lived in has ended. Do you feel fine?

December is upon us and 2011 is in the rear view mirror. Have you embraced the new real estate world or are you still longing for things to get back to the way they used to be? It’s a great time of the year to reflect on where you are and where you want to be.

Strategies and tactics for 2012 as they relate to business planning for the new year need to be pulled out and dusted off. The time is now to take a hard honest look at yourself and your business and ask yourself some tough questions. If you are an agent looking to take your practice up a level or a broker/owner wanting to become more progressive now is the time to do an honest assessment.

Business planning is much more than budgeting and goal setting. In part it’s being a visionary and analyzing your market, your strengths & weaknesses and translating that to specific strategies. These strategies are a big picture overview with specific tactics that detail how you will implement the overall strategy.  I listened to a real estate business and technology “smart guy”, Doug Devitre  at a conference a couple years back. He shared many great insights that have been implemented into our company and culture. One of his sayings is powerful: understand the WHY…delegate the HOW. That saying and his presentation inspired my partner and I to transform our agency without dramatically changing the underlying  culture.

Discovering ways to integrate news systems of technology and efficiencies into any business is a challenge, but necessary. Finding ways to do more with less is the way of the future. Be creative. Ask for help. And begin today! 

I can tell you from personal experience that once I came to terms with the fact that the real estate world had ended as I knew it, my partner Kathy Kuyoth and I became proactive and embraced those changes, and we DID BEGIN TO FEEL FINE!

Have a great 2012!

John is broker and co-owner of RE/MAX Preferred in Toledo Ohio with 3 offices & 80+ agents.

Local Real Estate Firm Finalist in 2011 BBB Torch Award for Market Place Ethics.

The Better Business Bureau announces RE/MAX^® Preferred Associates one of four finalists in Large Business category.

Toledo, OH, November 28, 2011:  The Better Business Bureau Serving Northwest Ohio and Southeast Michigan, Inc. announced at their BBB Torch Awards 10^th Anniversary Celebration, held at the Hilton Garden Inn at Levis Commons, that RE/MAX^® Preferred Associates was one of four finalists in the Large Business category. In total, there were over 100 local businesses and non-profit organizations nominated this year in all categories. This was the first year RE/MAX^® Preferred Associates was nominated for a Torch Award for Market Place Ethics and the only Real Estate broker in the entire nomination field.

 “This is outstanding recognition by our community for a first time nominee. Just to be nominated is an honor,” said John Mangas, Broker/Co-Owner. “Being nominated is an honor and being selected as a finalist in our first nomination reflects RE/MAX^® Preferred Associates’ corporate philosophy of marketplace ethics,” added Broker/Co-Owner Kathy Kuyoth.

RE/MAX^® Preferred Associates is locally owned and managed with three locations in the greater Toledo area. Serving the community with 83 licensed Realtors^®, RE/MAX^® Preferred Associates conducts several fund raising charity events throughout the year to support local causes. Within the local Toledo Multiple Listing Service provided by the TBR, RE/MAX^® Preferred Associates is nationally one of the leading RE/MAX^® agencies and has received National recognition as 2010 BROKER/OWNERS OF THE YEAR and the 2010 RE/MAX^® EAGLE AWARD for growth of business. For additional information, go to www.MetroToledoHomes.com or www.facebook.com/MetroToledoHomes.

	FOR IMMEDIATE RELEASE

 

How to get your home sold -- even in this market - WTOL.com: News, Weather and Sport for Toledo, Ohio

How to get your home sold -- even in this market - WTOL.com: News, Weather and Sport for Toledo, Ohio

I Just bought a home with a pool and it’s open. Now what do I do?

           So you want to tackle the job of closing your pool yourself? Can’t say as I blame you with the economy being the way it is. I will give you some tips, and explain how to do it below; first I will give you a list of things you may need to have to prepare for the challenge at hand:

           Note there are several types of pool covers out there, solid safety, mesh safety, and water bag type covers, the following list will pertain to water bag (Tarp Style) covers.

10 THINGS TO HAVE READY FOR POOL CLOSING

1.      A POOL COVER WITH NO HOLES.

2.      Enough water bags to go around the entire pool perimeter with the bags touching end to end.

3.      A cover pump for excess water removal and to lower the pool water level to prepare for the closing..

4.      Rubber plugs or Threaded plugs with O-rings to use for the return holes and skimmer.

5.      A blow-out compensator for each skimmer, this screws into the bottom of the skimmer and protects the skimmer from freezing and breaking.

6.      Chemical Closing kit, should contain slow dissolve chlorine tablets, winter algaecide and oxygen shock.

7.      Pool antifreeze for the skimmer lines, and pumps

8.      A blower or compressor to blow out the plumbing lines

9.      Tools- screwdriver, channel lock pliers, maybe a rubber mallet

10.  Very important- A HELPER

Now that you have what you will need we can discuss the basic order of closing the pool. Be sure to backwash the pol filter if Diatomaceous Earth filters (if you have one of these type filters you will know what I mean)

First you want to lower the water level in your pool. If you have a concrete pool with a tile line then you need to have the water 6” below the tile border. If you have tile on your steps then just be sure the water is 6” below the rest of the tile. If you have a vinyl liner pool just drop the water below the skimmer opening. You do not want the liner to pull away from the pool walls.

Once the water is down you want to drain out the pump and filter of water, on the back of the filter there should be a drain plug, remove this plug and open the air relief on top of the filter. In the front and side of the pump there are also drain plugs remove these and drain the pump basket area. If you have a chlorinator, do the same for this. You will need to remove any chlorine tabs left in the chlorinator and dispose of safely. DO NOT keep your face over the chlorinator lid when opening; this WILL gag you and can hurt your lungs.

Now that the system is drained you need to put the plugs back in hand tight only. The next steps will vary depending upon how your pool system is plumbed. If you have unions it is easiest to open these to get access to the suction and return sides of your plumbing.

You want to start with the suction side of the system, the plumbing coming into your pump will be the suction side, this may consist of 1, 2, or even 3 pipes you will have one line separate if you have a main drain in the deep end of your pool, this is the first piece to blow out, take your blower and from the front side of your pump blow air into the main drain line until you see a large amount of air bubbles coming up from the floor of the pool, now you will need to air lock this line and if you have a main drain then you should have a valve to close off this line only, as the air is bubbling up close this valve to lock the air inside the pipe, now this one is complete you can move on to the skimmers.

Take the above mentioned blow out compensators and screw them into each skimmer and store the skimmer baskets for the winter. Now blow through each skimmer line until nothing but air is coming out of the blow out. Once this is done, you can pour ½ a bottle of Antifreeze in each skimmer. Now the suction lines are closed, onto the return lines.

I find it easier to open the filter and blow out the returns from the filter outlet pipe inside the tank; if you have a sand filter this will not be possible. Use your best judgment as to what is easiest. Blow through the return lines and start plugging the returns starting with the one closest to your filter system and work your way outward. Once this is done; you can add the winter chemicals to the pool.

Last thing to do is blow out the filter system, using the same line blow air in and start taking out the plugs from the filter and pumps starting furthest away and working towards the pump. Your pool is now closed and all that is left is to cover it. It sounds worse than it is one or two times and you will be a pro like me.

Until Next Time…

Author Bio: This article was written by Rick the Spa Guy from http://fixmypoolandspa.blogspot.com/

Retirement with Great Weather and Living Conditions

Many people all over Europe are interested to buy their own home in Cyprus. Cyprus makes an ideal place for retirement with the combination of the great weather and the great living conditions. However before someone buys a property in Cyprus must consider the following points.

Location

Perhaps the most important parameter since it is commonly accept that the the first thing a buyer sees is the location. Buyers should select purely residential areas and quiet neighborhood and stay away from busy streets. Other factors that can make a property attractive are dead-end streets, close to parks and close to supermarkets. Furthermore it is important to check the is the ease of access to main roads. Lastly, Cyprus is well known for its clean waters, so the proximity of the residence to the beach is very important. Especially if someone is looking for a villas, it is highly recommended to search for Pissouri villas or Paphos villas.

Size

The size of the land and the house is also very important. Certainly the choice of size should be taken according to the budget. Generally speaking the size should be kept in a ratio plot size in relation to area of ​​residence. A simple approach / recommendation is the ratio of house - Plot 1 to 2 the least. In other words, a house area of ​​200 square meters is built on a land area of ​​at least about 400 square meters.

Prospects

Buyers should also take account of the prospects of the area they choose. There are areas with quick upgrade and these are usually the areas with new developments such as roads, parks, malls and marinas.

Security

Finally the buyers should take into consideration the security of home. Houses with security system, fencing, cameras and automation in lighting / railings should be considered.

Price Reduction

After 2008 and following the economic crisis, prices for properties in Cyprus dropped. There is no indication that the prices will drop even further and so now it's a good time to invest on a property in Cyprus.
Most people have the idea of «wait and see policy». It is reasonable to expect buyers / investors to make an overview of the crisis before making purchases however the prices have dropped significantly over the last 3 years.

Author's Bio: Chrys is a freelancer that specializes in Cyprus SEOand writes regularly articles about Cyprus. 

Real Estate Career, overrated? Not!

By John Mangas, real estate broker, Toledo, Ohio

The experts at CNBC* posted a story to their website “12 Most Overrated jobs” on November 10^th.  

            I read the story and was surprised to see that among their top 12 list was being a Real Estate Agent. They reference CareerCast.com who describes being a Realtor as overrated “due to the decrease in activity since the housing crisis began.”

            Quiet honestly, I take great offense to their assertion which tells me that they have a fundamental lack of understanding when it comes to our industry. The need and opportunity for the real estate professional has never been greater, assuming that the Realtor has changed with the times.

            There is a learning curve that successful agents in today’s market must make. Distressed property sales are a large part of the marketplace and require skill that didn’t exist 5 years ago. Short sales, bank owned properties and HUD sales represent about 1/3 of our sales in Metro Toledo and track through to our own numbers at RE/MAX Preferred.

           

            Specialty buyer options like 203K loans, OFHA financing and rural loan programs plus the investor and rental markets also represent opportunities for Realtors. Many real estate professionals did not historically embrace these market segments, but in today’s world, they are very important to the overall business mix.

            Realtors play a more important role in the home buying and selling process than ever. In fact, what I am seeing is that while there are fewer agents licensed today than 5 years ago, our agents are closing more sales. The agents at RE/MAX Preferred in 2010 based on the REALTrends reports, ranked #31 nationally for per agent production which translated to just over 21 closing sides per associate.

There is more opportunity than ever for Agents who understand the demographics of our industry. NAR research tells us that the average Realtor is about 20 years older than the average buyer. That is a generational difference that translates well for agents who understand how to blend technology, relationship building and on line marketing opportunities to more effectively reach today’s buyers.

            I saw a presentation at the RE/MAX convention and the presenter asked the question, “are you learning as fast as the world is changing?” That really goes to the level of success that any Realtor can expect to enjoy. The learning curve that comes with changing marketplaces translates well to creating security and even growth for progressive agents and brokers.

For Rent: Curing the Housing Depression

It’s no surprise to anyone that the world’s economy has been hit with some hard economic problems, and we’re not doing any better in the United States. With an enormous federal deficit, record high unemployment rates, and general public unrest, it’s hard to see any end to our troubles.

One of the main contributors is a poor housing market, which affects the weak economy. The weak economy then further affects the housing market. It is a vicious cycle. In a recent article, Peter Orszag, Vice Chairman of Global Banking at Citigroup and columnist for Bloomberg View, draws a global example and considers that, even if the European banking system remains stable, the U.S. economy may still flounder because of the housing market’s current state. Orszag goes on to admit that breaking the vicious cycle will be a painful, time-consuming process.

An Excess of Homes

In a normal housing market, it’s expected to have some vacant homes for sale. It’s part of the process of matching buyers with sellers. During the 90s, the average vacancy rate was about 1.5 percent. By 2008, the amount nearly doubled to 2.9 percent.

This year, the number has only come down slightly to 2.5 percent. Although that single percentage point difference from the historical average seems miniscule, it amounts to an excess of almost 1 million vacant homes. This excess of owner-occupied housing puts downward pressure on prices.

Renting Homes Out

Peter Orszag’s suggestion to ease the current housing depression: allowing tax write-offs for investors who buy empty properties and rent them out. Shifting vacant homes into the rental market would help stabilize prices.

Based on calculations by Richard Wagreigh of Citigroup’s Financial Strategy Group, the annual costs on real estate investment would be reduced by about a third when applying the tax break. The policy would also allow for more rental units, lowering the overall price, and encouraging others to move out of existing homes into their own rental units. To avoid letting the tax break outlive its purpose, the policy would be tied to the supply of vacant homes for sale.

As an example, let’s assume the tax break policy produces an extra 250,000 housing units that can be purchased and rented out each year, as well as 500,000 other units bought and rented even in the absence of the tax break. If the average price of those homes is $250,000, the 10 year total cost to the government would be less than $50 billion each year; most of this amount would return to the government in the future, based on full deductions. The cost would then be about $10 billion for each year the tax break is in place.

Staging Your Kitchen for Resale

Arranging your home in a way that is accessible to potential buyers is a surefire way to sell your home more quickly and at a higher price. Staging is important, but staging the kitchen is crucial as it is a major selling point of a home. Your potential buyers should be able to visualize themselves in the kitchen as if it were their own home. Check out these easy tips on how to stage your kitchen for resale.

Before you even begin to stage, you need to go over the kitchen with a fine tooth comb for anything that needs to be fixed. Noisy refrigerators, scratched cabinets, or chipped floor tiles should be taken care of.  Give the walls a fresh coat of paint if they’re looking dull. You don’t need to spend thousands of dollars on a brand new kitchen to sell the place. Make sure everything looks good and is working. Stainless steel appliances and granite counter tops are great, but if your kitchen is in perfect working condition it will sell just as well.

Your kitchen should absolutely sparkle. It should be so clean that potential buyers would feel A-Okay eating things from the floor. That would be fine too because you should have had the floors mopped and baseboards scrubbed before they came over. Polish everything until it shines. Wipe down cabinets, dust the ceiling fan and make sure that the counter is free of spills, drips and crumbs.

Once your kitchen is spotless, start clearing out the clutter. Take down the magnets from the fridge and tuck countertop appliances into the cabinets. Nothing should be on the counter. Make sure that nothing is in the sink or dishwater (clean or dirty) and hide all of the cleaning products from view. If you have a cupboard that hurls Tupperware at you when you open it, this is your opportunity to clean it up! Potential buyers are going to open up doors and drawers so everything needs to be neat.

Highlighting the best parts of your kitchen and minimizing problem areas is very important when staging. For example, a custom bookshelf that you’ve left empty is a great built-in feature to highlight. Do so by borrowing a few cookbooks from your friends and setting them up. Let buyers see the potential in the space. If they see how they could use it if they lived there, they’re more likely to remember it. Set the table in an eat-in kitchen to make it look like you eat there every morning, even if you don’t. Make your potential buyers believe that this is the most functional kitchen they’ll see.

The key to great staging is to make a space look livable without looking lived-in. Fresh flowers adds to the homey appeal as does a decorative rug. Pull back the curtains and let in some sunlight to highlight all of that exhausting cleaning you’ve done. Hang some generic art, something that would be easily accessible to everybody.

Once you’ve cleaned, de-cluttered, and artfully arranged your belongings your kitchen will be ready for potential buyers to fall in love with!

This article was written by Erie Construction. Follow Erie Construction on Twitter for more updates on home improvement. 

NAR repeals franchisor IDX display | Inman News

NAR repeals franchisor IDX display | Inman News

The Best 4th Quarter EVER!

By Kathy Kuyoth -Broker / Owner

We want to make this our Best 4th Quarter ever! Here is a great response to the question How's the market? Watch this video and start using Tom's response to how's the market and see how your business can improve!

We want to make this our Best 4th Quarter ever! Here is a great response to the question How's the market? Watch this video and start using Tom's response to how's the market and see how your business can improve! 

WELCOME TO 2012…..

By John Mangas, Real Estate Broker Toledo, Ohio

It’s early November…

The pumpkins and Halloween decorations are still being displayed at my house. The weekend was sunny & in the 60’s and I was even thinking about one more boat ride on Lake Erie. Then it happened; I got in the car Saturday morning and as I started to back out of the garage and there it was – CHRISTMAS MUSIC playing on the radio! NO!

Quickly, I hit play on an iPad music mix and went about my day. That momentary sound bite of the Christmas Season nagged at me all day. It was a not so subtle reminder that 2011 is rapidly winding down.

More importantly it was a jolt of awareness that 2012 is upon us. The old adage, “how you start is how you finish” couldn’t be more true. And the time to start is now, by thinking of these next 7 weeks as a jump start for 2012. Let’s ask ourselves some tough questions about working “IN” the business:

1.  How is my attitude?

2.  What am I good at (& remind yourself how good you really are)?

3.  What can I improve upon?

4.  Have I changed with the market?

5.  What can I learn from my business in 2011?

6.  What about the business gets me inspired and excited?

7.  When I am at my best, what do others see in me?

8.  Are my current systems giving me the return on investment that I deserve?

9.  Where can I give back and build up others?

10. What new streams of activities should I add to build my business?

11. Have I thanked those who have gotten me this far lately?

If you notice, I did not ask about number of contacts being made; cold calls, expireds & FSBO’s. Or about social media programs, distressed sales, data bases, HUD sales etc. You see, the business naturally occurs when we are in sync with the 11 points listed above. The real estate business in metro Toledo, Perrysburg, Sylvania and elsewhere is ever changing and evolving. The business plan for 2012 may look very different from other years. That’s OK. We’ve all heard it and perhaps even said it, “if it’s going to be it’s up to me”.  It begins and ends with each of us. You see, if we are not in the right frame of mind and positioning ourselves properly to thrive in any market, the business plan is worthless. When we are working in the business, working on the business occurs as an extension of our daily activities. Yes, there will be prospecting, hand written notes, listing presentations, showings, purchase contracts, inspections, appraisal issues…and that’s what working on the business is all about. Working in the business goes to the purpose and the passion that we have for our profession, so let it show in all you do!

Welcome to 2012! It has the possibility to be your greatest year ever, and it begins today!

Dashing Pacific to create master development plan for Marina Dis - WTOL.com - Toledo's News Leader |

Dashing Pacific to create master development plan for Marina Dis - WTOL.com - Toledo's News Leader |

COMMUNICATING EFFECTIVELY UNDER PRESSURE A Realtors thoughts on working with clients…

By: John Mangas, real estate broker

“No…that’s not what you said…”

And then it goes downhill from there.

Misunderstandings are a natural part of the communication cycle. If we become more aware of how we send and receive, respond and react, we reduce the number of misunderstandings that occur. As a RE/MAX Realtor and Broker in the Metro Toledo, Ohio area, I can attest that our clients very often don’t understand the home buying and selling process and depend on our skills to assist them.

There are 3 basic principles to follow:

1. Speak carefully

2. Listen attentively

3. Respond Accurately

Working at Home vs. the Office

By: Barbara Todaro

As the market continues to become more challenging every month, I’m noticing that agents who previously worked from home are now making an appearance at the office more frequently. When that happens, there is always a conversation about business and new ideas are shared.

Without those new ideas and thoughts, there are transactions that may not have happened. Without that interaction with other agents, there are listings that may have been lost to another office. There are many positive factors involved with having an office environment available to agents.

Many agents in other offices refuse to go into the office because of the social hour that occurs every day. If an office has agents who are all business, those social hours do not happen. I have to say that our RE/MAX Executive Realty office in Franklin MA is an office filled with agents who are all business.

Another #1: RE/MAX Tops 2011 Franchise Rankings

Another #1: RE/MAX Tops 2011 Franchise Rankings

Good News on National Flood Insurance Program, Posted by Elizabeth

Good News on National Flood Insurance Program, Posted by Elizabeth

It’s easy to take the “no tech” approach…What's he talking about you ask?

By John Mangas, RE/MAX Preferred Toledo Ohio

      I’m a RE/MAX broker in Toledo Ohio with 85 associates in 3 locations and over 700 listings. We closed about 1700 transaction in 2010 and are on track to do so again in 2011. We do business throughout Metro-Toledo and sell homes, condos, apartments, land etc. Basically, we deal with all types of property and people. What I’m getting at is this, nearly every day someone is in my office complaining about technology. Perhaps it’s a seller that wants only email communication, but doesn’t check their email regularly (while complaining about technology the entire time to the listing agent or anyone else that will listen). Or maybe it’s an agent complaining about a 20 something buyer that wants to negotiate a purchase offer via text messaging exclusively. In my opinion, these people are actually in the middle of the continuum. On either side of them we have people who still have (and use) a home phone and don’t have internet access. On the other end of the spectrum are those people who consider it normal to have their smart phone downloading a new app while looking at social media on their iPad and check work email on the lap top all while enjoying family movie night at home on the couch. As sales professionals it is our job to size up and sort out the level of technology our clients (and yes, even the other agent involved) are comfortable with using.

      Let’s be honest here…how many of us regularly use the fax machine collecting dust in our office? In a new era of technology options, we are forced to know and understand the options that exist. Electronic signatures are here to stay. So is the new world economy. Our web site, http://www.metrotoledohomes.com/ is getting hits from across the country and around the world. Investors have identified Toledo and many of our suburbs like Perrysburg, Oregon, Waterville, Maumee and Bowling Green as great places to put their money. And yes, like many of our other clients they are doing business electronically.

      One piece of advice that I consistently recommend is to identify the communication preference that your client is comfortable with. Yes, if it’s a couple, there may very well be two different communication applications going within one side of the transaction. When you factor in the other side of the transaction, the lender, appraiser, title company 

and perhaps even a 3^rd party company or asset manager; there are multiple layers of communication methods taking place. As engaged professionals, we no longer have the luxury of not learning that next new thing; it’s our job.

      To be certain, there are clients out there that are “no tech” wanted. They want to speak in person or at the very least on the phone and insist on original documents with real ink on them. I say great; go see them at Starbucks and wear your name badge to better leverage the appointment. Then, go back to the office and scan the documents to a jpg…the next person in the transaction will be asking for it soon enough.

Foreclosure - Bank Owned Homes

by: Kathy Kuyoth -  Broker/ Owner

k

National and Regional Experts are saying that we should see an increase in inventory of homes for sale in October and November 2011. Many of these homes are being held by banks and mortgage companies. They  have been tied up because of concerns regarding improper signing of foreclosure documents.  This is on a national and regional level as well as the Toledo area market.

           

We are also being told that there is not a large shadow inventory of homes that will be marketed by these banks and mortgage companies in early 2012. Most of these homes are in the short sale process or have already closed by short sale.  A short sale exists when a seller, because of hardship can no longer make payments and owes more than the current value of their home. The banks and mortgage companies are usually willing to negotiate a short sale with the owners because it’s much less expensive than going through the foreclosure process.

           

If you have questions regarding short sales or want to see if you qualify call

RE/MAX Preferred  and ask for a short sale specialist. 419-720-5600.

            For more information regarding short sales and foreclosure go to

http://www.SavetheDreamOhio.gov/aspx