Entries from Searchlight Crusade tagged with 'strategy'

Considering Condos, Townhomes, and PUDs

The vast majority of the population out there wants single family detached housing. The virtues and benefits of the single family residence have been extolled ad nauseum, and the drawbacks of the alternatives are the stuff of urban legend. Unfortunately,...

Lipstick on a Pig: Selling the Property You Should Never Have Bought

Lots of properties have some kind of problem with them. Maybe you bought in full recognizance because of something else about the property, but probably not. Mostly it's directly a result of not spending the effort to find a good...

Properties With Accepted Contracts Aren't Available

This is one of the hardest things to get across to many people - agents included. A property with a fully negotiated purchase contract is not one that someone else can buy. They have a legal agreement binding them to...

Buyer's Basic Guide to The Foreclosure Process and REOs

I've written articles on when you can't make your mortgage payment and how to react if you see foreclosure coming in time to do something about it, and even on Short Payoffs, but all of those are owner (seller) oriented....

Why Do I Want A Buyer's Agent?

Got this search: "should I get a buyer's agent if I've already found a house" The answer is almost certainly yes, but I am going to examine both the pros and cons. Full disclosure: This is most of what I...

How to Effectively Shop For A Listing Agent (Part II)

Continued from Part I Interview lots of agents. Once again, my experience is that the agents at small independent brokerages tend to be sharper than the ones at large chains, but that's only true in the aggregate, and the large...

How to Effectively Shop For A Listing Agent (Part I)

This is the final article in this series, and the most difficult. The reason is very simple: Unlike shopping for buyer's agents or shopping for loans, you have to make a binding choice - it is in your best interest...

How to Succeed at Low Balling on Real Estate

A while ago now, I spent several hours showing properties I had found to a couple of investors. One was a lender owned fixer, fairly priced at $440k. It needed carpet, paint, landscaping, and some facade work. The last comparable...

Should You Pay Off Your Mortgage Faster?

I have to admit to being conflicted. The numbers say no. The psychology says yes. Let's examine both. Most first mortgages out there are between six and seven percent, and tax deductible at a marginal rate of about 28%. If...

How to Effectively Shop for a Buyer's Agent

This is easy. Much easier than effectively shopping for a loan or a listing agent. So easy that a congresscritter can do it. So easy that congressional leadership can do it. The only thing possibly moderately difficult to understand is...

Listing Agreements: Exclusive Right to Sell Versus Exclusive Agency

There are actually several different kinds of listing agreements. They get their names from the rights conferred when you sign the contract. The vast majority of agreements concluded are either Exclusive Right to Sell or Exclusive Agency. Exclusive Right To...

Negotiation Requires More Than Dueling Ultimatums

Not too long ago, I started negotiating for a property. I did extensive research online, and and I and my clients visited several competing properties. We made an offer that was a little under 90% of the asking price, and...

Pocket Listings: Out of Sight, Out of Mind

Every so often, you will see references to a "pocket" listing. These are usually bad for owners, and usually bad for buyers, but good for agents. A "pocket listing" is one where there agent keeps the listing "in his pocket"...

"All of the Good Properties Get Offers So Fast!"

That's way up there on the list of complaints buyer's agents get. Probably number one, definitely no lower than number three, and it's only going to get worse when the markets recover. There's really only one honest response: "Well,...

Desperation Mining: How a Buyer Hits Paydirt (and How Sellers Can Avoid it)

One of my favorite blogs ran a picture of a listing sign that included the caption "REDUCED But Not Stupid or Desperate." I beg to differ on the former. On the latter, time will tell. Most successful real estate investors...

The High Cost of Waiting To Buy A Home

(Note: This is a repeat and 100% financing is not currently available unless you are one of those with a VA loan available to you - but the article is still valid for those who have the required down payment...

Save For A Down Payment or Buy Now? (Part 1 of 2)

An email asked a question I should have thought to answer a long time ago, and the answer may surprise a lot of folks. I've been vaguely aware of this for a couple of years, but I was amazed how...

Buy Now vs. Wait: Some Practical Hypotheticals

The original appeared in April 2006, but has been updated for changes I am hoping to buy in the (city) area and am reviewing the possibilities. While I fear that the local market may be peaking, I intend to live...

Top Ten Reasons You Bought The Wrong House

A while ago, I wrote Top Ten Reasons Your Home Isn't Selling. It was well received so I thought I'd take it from the buyer's perspective. Once again, I'll try to inject as much humor as I can. And...

Agents "Buying" Listings: Promising the Undeliverable and Hurting Their Clients

Quite a lot of the time when I view a property, I get requests for feedback. Usually it's an automated email. Other times, it's some office assistant who wants to fax me a form which will "only take a...