Inside Buying & Selling Real Estate

A collection of articles about buying and selling real estate.
There are 55 articles written on this subject. The most recent 10 are listed here:

Preparing to Sell: Part I Preparing To Sell in the Spring Surge More silly negotiating tactics Playing hardball: sharp stick in the eye Back to the Northern Virginia Real Estate Guide

The joys of satisfied real estate clients AOL Real Estate: Mortgage Tricks of the Trade The Kiss of Death to A Real Estate Blog! Conformity. What is it and why does it matter? Taking the mystery out of days on market

You will find a complete Index of Articles by Category and by Month in the Archives.

October 10, 2007

Here's a note I received from a recent listing client that settled on their sale October 1st:

Dear Merv,
Many thanks for a job well done! From taking and editing excellent photos, creating an appealing virtual tour, maximizing the places our listing could be seen, through the negotiations, you made a significant difference in selling our house.

We were expecting to lose money, but are glad that didn't happen. It is a paradox to think that an average Realtor would have not even sold it yet, but would collect several thousand more when the house finally did sell. Your visionary sales/consulting model is a "win-win" for all of us.

Finally, the quick sale will most importantly allow us to be a family again - with Dad home at night and Mom keeping her sanity! For that we are most grateful.

Please accept a bottle of my favorite wine ever - I brought 4 boxes back from Germany and want you to have one as a token of our appreciation for your hard and smart work.

With gratitude,
The Davison family - Erin, Mark, John and Eleanor

To the Davison family: it was my pleasure serving you...

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May 23, 2007

The second of a series from AOL Real Estate. Here are excerpts:

A Mortgage Broker Reveals the Tricks of the Trade

Inside Stories From Today's Real Estate Market
Jason Walker, AOL Real Estate

"There's an old saying in the mortgage broker business: The biggest liar gets the deal," says one home loan broker who has been in the business for more than 15 years.

"When I price my loans, I price at the point where my buyer can't get a better loan anywhere else. That's how I sleep at night. But the other rule is to get as much from the borrower as they can before they notice. Most agents do the latter,"

...

A lot of loan brokers, "prey on the ignorance of the consumer. The consumer is like, 'Oh gosh, I'm getting a 1 percent or 2 percent loan.' They don't understand there are no free lunches. Every month, they are losing equity. These loans have been around since the early '80s, but it wasn't until recently that the loan values were 95 percent of a home's value, compared to tougher standards like 80 percent loan to value."

What's making matters worse now is that the people caught in these negative amortization loans are finding it tougher to refinance as banks have become more conservative with their lending practices and interest rates have gone up. "The agents that were really doing it a lot were people who just got into the business. These were new loan officers. It was easy to sell people on the monthly payment alone. They would never really go over the consequences down the road." also points out that many of the people who signed up for the negative amortization loans were not sub-prime borrowers, but people with good credit known as A-grade borrowers.

...

Sub-Prime Lending Equals Big Money
The real money to be made by loan agents is with sub-prime borrowers. These are people with collections, car repossessions and bankruptcies on their record. Because of their poor credit ratings, they can't qualify for prime interest rates. If the sub-prime borrower does get a loan, his or her interest rate will be above the prime rate. "A lot of inexperienced loan brokers rushed in to make quick money. The sub-prime guys can make anywhere from $5,000 to $10,000 on a loan.

One Good Thing About Sub-Prime Loans
While most headlines of late have focused on the victims of sub-prime loans facing foreclosure because of adjustable rates, points out one positive of sub-prime lending. "The borrowers were given a means to buy a home. These people wouldn't have been able to get loans before, so it's good in that way." The problem now, of course, is when the loans adjust up and the borrower can't afford the new payments. They'll face a tough time getting another loan because the banks have tightened their lending practices.

What Tips Does Victor Have for Loan Seekers?
Read the rest of the story...

Published by permission from AOL Real Estate.

It is always good to hear from insiders in any industry and, every industry has its quick money participants. While sub-prime loans have helped many afford homes that otherwise could not, the victims that either didn't understand or who were duped are getting hit the hardest. Not getting good advice from a reputable mortgage banker, broker or a real estate agent spells trouble with a capital T. A legitimate professional will "tell it like it is" to a consumer even if it means not getting the business.

Beware of the "it is too good to be true" selling points from anyone that wants your business. The tips provided in this article are good ones (you have to click on the "Read the rest of the story link above"). And, if you have any doubts, get a second and even a third opinion. I always advise clients to "shop" loans from reputable brokers/lenders that have a local presence. I prefer banks that write their own mortgage loans and service them. You will simply get better service and straight advice.

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May 8, 2007

The folowing basis for Blogging is the perverbial "Kiss of Death!"

SPECIAL! SIGN UP FOR EMAIL ALERTS WHEN I POST SO I CAN TURN YOU INTO A LEAD.

I will DRIP MARKET you to my own death.

Turn Blogging Into A Lead Generation Tool
by Blanche Evans

"We truly believe that if a blog doesn't lead to more new business, then it's a waste of time," said Rusty Lindquist, vice president of broker and agent products for a la mode, Inc., a real estate technology company based in Oklahoma City. "If blog visitors aren't being treated as leads, then blogging is really a waste."

Read the full article here.

I love Blanche Evans. She writes great content and I have quoted her many times. BUT, she and a la mode have GOT IT WRONG! Let me ask my readers a question: If I took your email addresses and turned it into drip marketing (that's sending you a periodic email extolling the virtues of my services and encouraging you you contact me for your real estate business) or became a pest to you in other ways to get your business, would you want to continue being a participant or a reader of the Guide? Only YOU can answer that question. I think I know what the answer is.

I AGREE with the notion that if I spend time and resource doing something related to my business, I should be generating business from it or simply, not do it. I truly believe that if you get to know me and how I think via this Blog and my website and you want to explore a business relationship with me, you will, in your own time, on your terms, not mine. I don't need to push it into your face. In fact, if I did, I would be soon "out of business." And, this Blog would just become another DEAD real estate agent website.

I do get business from the Blog and I appreciate it immensely. Thank you to those that found me here.

Blanche, these guys have it all wrong. I'm sorry you got sucked into their garbage! Talk to some real Bloggers about their business.

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May 3, 2007

Conformity is an interesting concept and one that I have not seen talked about in the Blog world. Here's the basic definition as provided in "the Language of Real Estate" by John W Reilly:

Conformity

1. An appraisal principle of value based on the concept that the more a property or its components are in harmony with the surrounding properties or components, the greater the contributory value.

2. The concept that maximum value is realized when the four agents of production (labor, capital, management and land) are in economic balance.

We see this principle in action everywhere. That's what "planned" communities are all about and what justifies the existence of home owner associations (HOA's). Almost every new development is planned to be in harmony within its confines supplemented with community amenities such as common areas, parks, recreation facilities and, often times, compatible retail centers.

So, the question is: What happens when an economic event, such as the building of a non-conforming home within a community that is otherwise in balance? I found the following article a couple of months ago on the Inman News Website that pinpoints the answer. Here is an excerpt:

Future neighborhood construction may hurt resale value
Factors that could scare off buyers
Monday, February 12, 2007

By Dian Hymer
Inman News

It doesn't take much to throw a buyer off track. Prospective sellers should keep this in mind as they prepare their home for sale. It's easy to concentrate on making your home look good but overlook other factors that could impede the sale.

Fear of the unknown will send buyers running in the opposite direction. For example, you may take pride in the fact that your home is located next to a vacant lot. There's no building adjacent to yours to obstruct the view or the quality of light.

From a buyer's perspective, the feature you relish might be a serious drawback. What if someone builds a monstrosity next door that blocks the light and diminishes the view? Many buyers will pass on a house like this and keep looking, particularly if there are many other homes on the market. Buyers who aren't dissuaded might require a price concession to compensate for the expected loss of value once the house next door is built. (emphasis added)

As a buyer, it is important that you and your agent perform due diligence to ascertain what future plans may be and what the local rules are controlling development and how strictly they are followed. As an agent I have two perfect examples of when good intentions may have negative economic impact:

• Builder constructs custom home home for his own family. A community in a local area has large lots (greater than an acre), no HOA and no restrictions on building other than county requirements. Builder buys a 2 to 3 acre lot with some woods, builds a beautiful custom, three level home with about 6,500 square feet of finished space. The problem: the neighborhood is what I call very "eclectic." The surrounding homes range from 20 to 30 year old ranch style homes, log homes, to colonials and everything in between (including run down shacks).
  
  Now the subject of selling this home: In a planned community, It would probably list at greater than $1,000,000. Since it was in a "non-conforming" neighborhood, It was listed in the high $800,000's and eventually sold after 9 months in the high $600,000's. Reference the Inman article above: it took a considerable price concession to attract the right buyer. This situation was brought back into "economic balance." There was a price at which a buyer overlooked the non-conforming nature of the area and focused on the bargain to be attained. This may not have been bad for the builder in this case because he minimized development costs by building it himself. Did he maximize value? Maybe, maybe not. Depends on his original objectives and motives.
• Conforming neighborhood with an undeveloped private lot. This neighborhood consists of colonials on 1 to 1 1/2 acre lots with surrounding open space, views of the local hillsides and abundant wildlife. The existing homes in a subsection of the development (not completely built out) range from about 3,000 square feet on two levels to the largest at a bit over 5,000 square feet on two levels. The homes in this subsection were built in the mid 1990's and incorporate architectural style of the area and building designs of the time. A range of home sizes but, conforming nonetheless.
  
  The empty lot, purchased from the original developer as an investment, was sold to a private, boutique, custom home builder. The builder proceeds to construct an 11,000 square foot home (on three levels) of an architectural style that does not fit the neighborhood. Blatantly non-conforming. Homes in this neighborhood sell for $600,000 to slightly over $1,000,000. The new home is listed at over $2,000,000. What's wrong with this picture?
  
  It makes absolutely no logical or economic sense. The builder in this case has every legal right to build what the county will allow. But, the consequences, perhaps unintended, could be devastating on the community. Does a $2M home in a neighborhood of homes with values averaging less than a million bring up the value of the whole. I think not. In fact, it may have the opposite effect. Could the HOA representing this neighborhood have a say in what could have been built on this lot? It could. Unfortunately, the HOA is not yet controlled by the homeowners. It is still controlled by the original developer. Somehow the county should have had a say besides zoning and building code. The original developer of the community should have had a say as they controlled the HOA and this had to pass "architectural review." The builder of this home needed to look at his plans, look around the immediate neighborhood and come to the responsible conclusion that his plan was economically "out of balance." No wonder builders have such a poor reputation in general. I suspect that economic balance will be achieved and somebody is going to be financially disadvantaged.

In the first case of a non-conforming area, the individual builder is totally responsible for his own decisions and the financial consequences.

The real question in the second case is: Should there be and can there be strict oversight and control of building in planned, conforming neighborhoods? In my mind, there should be better controls because the actions of one has a potential economic impact on many. I'm not sure it can be (or could be in this case) because ordinary citizens were not involved nor had responsibility to review the actions that impact their living environment. Counties and towns go to great lengths to protect the character of its "historic districts" and rely on significant oversight of proposed expansion and redevelopment within those areas. The same principle should be applied to planned, conforming developments as well. Maybe this is just a one off case that got out of hand because of the circumstance. So be it. The bottom line, as I see it, is no one used any common sense in allowing this to happen and the individual was not exercising any social awareness or consideration of his actions on others. I am not an advocate of legislating to protect an individual from making poor choices. I would advocate protecting the many from the impact of individuals making poor choices.

There are cases where very old neighborhoods go through redevelopment because the land value far exceeds the improved value of existing homes. In these cases, redevelopment can have a positive economic impact on existing owners. The theory here is highest and best use. More about this in a future article.

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April 19, 2007

Days On Market continues to be somewhat controversial in some areas of the country and widely misunderstood by many readers. The following is a quick tutorial of the meaning as it applies to our MLS (MRIS with a coverage area of the Washington Metro region):

MRIS tracks "days on the market" in two convenient and important ways. They are referred to as DOMM and DOMP:

1. DOMM: Defined as days on the market - MLS. This is the number of days on the market that a property is "active" from the list date of the current listing. Current listing you ask? Yes, current. A home can be withdrawn from the market, a listing may expire or it may be taken "temporarily" off the market for completely valid reasons. The MLS stops counting days (DOMM) for any of the these reasons in addition to a property changing status to "contract." If a property then comes back on the market (for instance: a contract is voided for some reason) with the SAME MLS ID number, counting days in DOMM resumes. In this case, DOMM and DOMP will be equal. Read on to see what happens if a property comes back on the market with a different MLS ID.
   
2. DOMP: Defined as total days on the market for this property. If a listing comes off the market for reasons stated above and then comes back on the market with a new MLS ID within 180 days of the last "off" date, DOMM is reset to zero BUT DOMP continues counting days from the first (original) list date. A property can go on and off the market many times but, as long as it is within 180 days of the last "off" date, DOMP continues counting.
   

DOMP is important because it gives the true picture of how long a property is "really" listed and is designed to keep agents from gaming the system (unfortunately some try) to make an old listing look new. Here are some common questions:

• How is DOMM/DOMP controlled? It is through the unique Tax ID that is assigned every property by the county in which it resides.
• Can a property have more than one MLS ID at the same time? Yes. Some are very valid. In fact, I had a listing in a community of townhouses that were also referred to as "patio homes." To be sure this property was recognized in distinct searches (town home and patio home) I listed it twice. But, because of the tax id, they were linked and both listings tracked the same DOMP even though the "list date was different." After settlement, I closed one with a status of SOLD and withdrew the duplicate. Can't close both with SOLD.
• Are there other ways to "game" the system? Probably. And, some may have figured it out.
• Are there penalties for being caught manipulating DOMM/DOMP? YES from a warning on the first discovery to several thousand dollars in penalties and/or suspension. An agent's broker can be fined too. The key word in the rules and regulations are "material." Days on the market is a material fact that both agents and consumers have a right to know to make an intelligent, informed real estate business decision.
• Are the rules and fines for violations made public? Yes. Here is the link to the MRIS Compliance section of the public Website.

I reacted to a comment made by one reader several months ago that inferred that RE/MAX taught their agents how to manipulate "days on the market." Logic tells me there is too much at risk to agents AND brokers to even think about it. After all, we are trying to make a living in this profession.

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April 9, 2007

A recent article I published Preparing To Sell in the Spring Surge was about a strategic mindset as a seller (you know ... the 5 Bs). This article is about the tactical side of preparing to sell.

In my experience over the last couple of years, I've met few homes that didn't need some work before going on the market. I'd say conservatively 7 out of 10. The biggest problem with sellers is that they don't look at their home through a buyers eye. This one simple fact will prohibit a home for selling at its highest and best value, or worse, not at all.

Just a couple of years ago when the market was red hot, a seller could put a dog house on a 10 square foot lot on the market and it would attract multiple contracts in a matter of hours. Not so today. Buyers simply have too much to chose from. If your home is not in tip-top shape, ready for a buyer move in, you simply will not sell. Unless, of course, you make it a bargain. Even then, many buyers just don't want the headache of having to do spruce up work themselves. Here's what I see in many homes we examine before taking a listing:

• Dirt: Plain and simple, a dirty home is going to turn off buyers. Professional cleaning top to bottom is a low cost investment that returns many times over its cost. For a medium range home the cost could be several hundred dollars.
• Worn, stained carpets: Turn off number two. Occasionally professionally cleaning them will help but, cleaning won't change the wear factor. I recommend replacing all carpet with a medium grade, neutral color with the best pad money can buy. About $23 to $25 per square yard will be sufficient. We've done this many times on medium priced homes and it makes a world of difference. On a higher end home, a more expensive solution is in order to match the higher price range.

• Paint: This ranges from hideous color combinations to just looking worn out. This is true for both inside and out. A freshly painted home not only looks good but could get rid of many years worth of living smells at the same time. Again, neutral colors are best. Don't forget the ceilings. And, hire a professional. Very few of us will do a quality job if we try to skimp and do it ourselves. Don't forget to fix the wood rot outside too. If it doesn't look well maintained all kinds of red flags go up in a buyers mind leading to: "What other problems might there be that can't be seen?"
• Smells: Cooking, smoking and animal smells will cause a potential buyer to turn around at the front door and run away as fast as they can. In fact, I take a buyer client out of a smelly home before we even make it across the threshold. For gawds sake, don't smoke in the house (especially after replacing carpet and painting). Got dog hair floating everywhere? Gotta fix it (as in get rid of the hair and don't let it come back). Nothing, absolutely nothing, is worse than cat urine. It will destroy a home, not only carpets but wood floors as well; even the sub-flooring. There are several neutralizing agents available that may mitigate this issue but, I have found none are 100% effective. If it gets into the sub-floor, ouch! If it can't be totally mitigated you have just narrowed your buyer population to a minuscule number and your price must be adjusted significantly downward to compensate.
• Clutter: Any of us that have been in our homes for more than just a few years have more stuff laying and hanging around than we probably need or use. That neat warming tray gift from Aunt Grace is a keepsake but never used. Buyers want to imagine how they will live in your home. Your stuff falling out of the closets and kitchen cabinets that have not 1 square inch of space left will certainly discourage a potential buyer because the message you send is "there is not enough space in this home." Solution: get rid of it. Throw away as much as you can tolerate and pack and store somewhere else the things you can't (like the warming tray you never use).
• Landscape: Curb appeal. First impressions are everything. Mow, weed, trim and get some seasonal flower color for your home as seen from the street. In fact, sellers need to walk out to the street and look back at their home. Would you buy this home if you had lots of choices? You have to be brutally objective.

• The details: How about the outside metal fixtures? Are they discolored? Falling down? Tarnished? How much better would it be if you replaced those weathered brass fixtures and trim (like front door kick plates and door knockers) with bright shiny new ones? I say it is essential! Impression. Impression. Impression. Same with a weathered, worn wood deck. If it is beyond sanding, re-staining and/or sealing, it should be replaced. Garage doors? If you are like me, garage doors typically attract neglect. If they are rotting, the best thing to do is replace them. We have had good results with aluminum replacements painted to match the house trim. Short of total replacement, I have replaced just the bad panels if they are of a standard style. I've done this on my own home.
• The kitchen: Chances are that if your appliances are more than 10 or so years old, replacing them adds real value to a potential buyer. Especially, if you have cooked on grease and stains that cannot be removed. Those Formica or laminate counter tops? Synthetic or stone counters are expected, especially in newer homes that you may be competing with.

This sounds like a lot and maybe it is. If your home is in "like new" condition you will have a better chance of selling in a shorter time for the highest price possible. We are great at marketing our listings to attract buyers but, your home has to "sell" itself.

From our experience, a 2,000 square foot home that requires inside paint, outside trim, new carpets cleaning, decluttering and some landscape spruce up will cost in the $10,000 to $15,000 range. A 5,000 square foot home we listed required all of the same plus new medium grade appliances, new interior/exterior door hardware and hardwood floors refinished and the price tag came in at about $32,000. The questions: Is it worth it to do all this? Will I get my money back? The answer: What is your cost if it doesn't sell. A lot of this is what I call "deferred maintenance." If you are not maintaining while you own it, you will need to spend the money before you list to attract a buyer. The market is brutally competitive! As a seller, you want to be a "top seed" (like in tournament rankings).

These are only the major items to consider. There may be others. All homes are unique in some way and may require other work. An objective evaluation would be in your best interest. Preparing to Sell: Part II will be about the next step: Making the emotional connection with a buyer.

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March 31, 2007

The Washington Post published a good article this morning in the Saturday Real Estate section that every seller should read. Here's an excerpt:

The Science Behind the Sale
Patience and Compromise Prove the Winning Formula

By Sandra Fleishman
Special to The Washington Post
Saturday, March 31, 2007; Page F01

Nationally, there's more than a six-month supply of existing homes for sale. In some parts of Northern Virginia, the inventory is more like 8 or 10 months.

So how are successful sellers doing it? The basics triumph in a buyer's market, real estate agents say. Price, location and condition are uppermost.

And sometimes it just takes time.

Read the full article ...

The article continues with examples of four sellers in the Metro region and their stories.

Yes! Location, condition and price are key. And, being patient and willing to compromise are absolutely essential. In these times of market uncertainty (hmmm... not really uncertain, it IS a buyer's market), sellers need to be a market leader, not a follower. Another way to put it: there are sellers all around you that will be lowering their price to sell similar homes. Like it or not, they are the leaders and what they do has a significant impact on your selling position.

The post article reminded me of one I posted way back in November of 2005 when the signs of a cooling market were predominate. A note to my clients about the market is just as relevant today as it was 18 months ago...

Friends and clients,
This is the first of periodic market updates that we will provide you in this time of market uncertainty.

Attached are (current) market statistics for Fairfax (fx), Loudoun (lo) and Prince William (pw) Counties. You probably heard us talk about the sluggishness as well as reading about it in the local news. It's real. There are more listings available to buyers than any time in recent history. If you don't follow the frequent articles in our blog, you should. We probably do more market research than anyone else and give our opinions in a straightforward, unbiased manner.

What this means:

• Be realistic. Buyers are now buying the best for their money. Either show better for the price or reduce the price. Investing in paint, new carpet and staging when necessary yields a big return on investment. Also, Location, Location, Location are always the top 3 real estate priorities.
• Be flexible. Buyers are being more selective and expect more from sellers in price negotiations and perhaps subsidies for closing costs.
• Be logical: This is market dynamics. What your neighbor sold for last spring or last year has nothing to do with market value today.
• Be professional: Generally, work on your home done by a professional will be worth more in the long run. Buyers will be picky.
• Be patient. We can't know what the future may bring but we do know this:
  • The Washington Metro area economy is among the strongest in the nation. Jobs are being created at a rapid pace.
  • People moving to the area for jobs will need housing.
  • The market was over heated the last few years and it is now moderating to "normal", whatever normal is.
  • First time and "move up" buyers are looking further away from the Beltway because prices tend to be lower and quality of life better.
  • 25% of the homes sold in the last two years were by "investors" buying and flipping. Those that didn't flip soon enough are now stuck. That inventory needs to dissipate.
  • And, all the "real estate bubble" talk is feeding on itself.

Read the full article ...

I summarize this with the 5 Bs for selling your home:

1. Be realistic
2. Be flexible
3. Be logical
4. Be professional
5. Be patient

... and, DON'T B GREEDY! You will B utterly disappointed.

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February 27, 2007

The last article is bringing up lots of memories about silly things agents do for their clients (or is it for themselves?). Here's another short story (about a year ago):

We have a full price offer of $389,000 but the buyer wants a $15,000 seller subsidy. Seller is willing to compromise and we counter with a $5,000 subsidy (willing to go a little more). Buyer agent says "this kills the deal, my clients won't go there. We won't respond to your counter." About 10 days later, the agent is back with a counter at $12,000 in subsidy. We counter that at $7,500 subsidy, eventually settle for $8,500 and ratify the contract. Go to close. Everybody is happy.

What was there to be gained by shutting off the discussion? In this case, nothing. Were we disappointed that they seemingly "walked away?" Sure. Were we surprised they came back? Yes. Was my client now skeptical of anything this agent represented? You bet. So was I. We were then prepared for this contract to fall through for some other reason.

An element of distrust was created by the tactic used. In the end, this one worked fine. But, as an agent, I need to trust the other side. My client needs to trust the other side too. Trust in this case was created when she got her money at closing.

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Got a call from a buyer agent last night on one of my listings. Here's the gist of the conversation:

Hi, I have a buyer client that is interested in your listing. Do you think they would accept $XXXX (about 8% lower than the asking price) and a seller subsidy of 3% of the selling price? We are looking at a number of homes on their "top list" tomorrow. If your clients say no, we will not waste our time looking at it. They are first time home buyers, well qualified and can close in two weeks.

Can you guess how my clients reacted? Offended? Yes. Can you guess what they wanted me to respond with? Can't go there. What we will respond with is this:

We are delighted that your clients are interested in our home. We would welcome your visit and if you like the home and are inclined to make an offer, we are very willing to negotiate. There might be a deal that is a win-win.

So, what is the moral to this short little story? Buyers have an upper hand in this market but will lose most of the time poking sellers in the eye. Why would we want to disclose anything to an agent and her buyer before they even saw the home? Let's just put a sign out front advertising "We are asking this but will take this."

There is no reason to use this approach (unless there is something I don't understand about business). If they are looking for a distressed seller, they may find one. Based on the averages we report on a daily basis, this may not be an unreasonable offer. Their sharp stick approach leaves a lot to be desired. What other hardball tactics may be around the corner?

People in this business never cease to amaze me.

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I'm back after a 10 day hiatus finishing work on the ACRE™ project! Have I missed much? Maybe. Maybe not. I hope you have missed me. My stats still show big visit and page view numbers even for being gone for 10+ days (and not posting anything new).

The Daily Market Watch was updated this morning. The only news here is that it looks pretty much the same. Fairfax and Loudoun inventories remain level while Prince William continues to rise. Loudoun prices are dipping again now below an average of $460,000. Are we flirting with new lows? Contracting activity has been on the rise for the last 45 to 50 days. At some point, those homes will go to close and the number sold should rise as well.

Assessment notices are out. Got mine a few days ago. Land up 15%, improvements down 27%. Net: a 16% reduction. WOW! I'm not complaining after 25% and 28% increases that last two years. But, I sure would like to see their methodology. Also, interesting to see Zillow "Zest" when they get the records.

Speaking of Zillow: I've had my home on the "Make me an offer" list since they went live with this feature. Had no calls. Maybe I'm unrealistic on price. Nah...just a slow market. It'll pick up in the spring.

And finally, speaking of the ACRE™ project, we built one of the most sophisticated user forums on the planet. I least I think it is. All built on MovableType. Lots of custom PHP, mySQL and complicated COOKIE handling. We don't call it a Blog; we call it an Exchange. It is a learning tool for course graduates to interact with consultant practitioners or coaches. I wish I could show it to you but it is a closed forum for ACRE™ graduates only. By the way, ACRE™ stands for the Accredited Consultant in Real Estate. Our goal is to change the way real estate is practiced and vastly improve the professionalism of the industry. Our biggest challenge is educating the industry and consumers. We think the time is right for change and consumers want the transparency offered with the fee for service approach.

At any rate, good to be back. Until my next web project.

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