Real Estate Investing

I don’t believe 2008 will go down in history as a great year for real estate.  We saw the market continue to struggle, even as interest rates and home values shrank - usually something that would spur more interest in housing.  We’ve seen foreclosures throughout the country sink families - up close and personal.  My friend Mary is still hanging on by a thread, but a look around sees homes that used to be filled with laughter now sitting vacant. 

I started writing here at Banks.com in May of 2008, replacing our friend Hayli Morrison who continued to write on other sites for some time.  Here are some of my favorite posts since I started here.

A laughable sales tactic by one agent - block the door to prevent the buyer from leaving!

Top 10 signs of when a builder goes bad - I’ve seen even more craziness from some builders since this post. One finally put some screens in the windows of a home he sold a year ago when he needed his former buyer to sign off on an easement mistake. She refused to sign until he brought her some screens.  Now the bugs stay out when her windows are open!

Who knows what market lurks in the hearts of real estate?  The DENTIST knows! (The buyer never did buy…) (Oh! And I recently heard that Ed McMahon gets to continue living in his home).

Oops… why Realtors cannot conduct home auctions on eBay (you must have an auctioneer’s license!).

The ups and downs of living in a mobile home.  I’ll sum it up… tornadoes = bad and affordable = good.

Can you find another place to live after foreclosure?

People either love Realtors or they hate them.  Me?  I love them.

Pets are abandoned when homes are foreclosed.  This still makes me really sad.

Look out!  Spy cams and hidden mics can be anywhere!

Outgoing referrals are a good thing - when the client is just not ready to buy/sell! Or if they’re a jerk.

It’s lollipops and gum drops out there, people.

Different types of agents:  Lions and Tigers and Bears, oh my!

A Real Ghost Story … and you do have to disclose ghosts in California.

Unemployed Should Get an Automatic Stay on Mortgage Payments: An Editorial Opinion

I’m still mad about this … mortgage companies won’t sell if they only break even (but I’ll bet they’ll get some bail out money!)

At Thanksgiving, everyone gets thankful.  This post say why I am thankful to be a Realtor.

Safety Tips when Decorating for the Holidays

How One Salesman was a Real Jerk

Building Green

Happy New Year!  Again, may tomorrow’s dawn bring much joy to your life.

Most builders are just amazing.  They are highly skilled in both the design concept and construction of a home.  The devil’s in the details, of course, so I always look to see if windows are framed and if there’s any decorative trim.  However, sometimes builders really stink.  Here are some signs for when you want to steer clear of a bad builder:

1. The neighbor has a banner hanging from an upstairs window that says, “Call me before you buy a house from [builder name deleted]!”
2. Builder will not return phone calls.
3. Punch list is not completed prior to closing. (NOTE: Never close without punch list completed!)
4. Six months later, punch list still not completed, though contract clearly states that conditions of contract will survive closing.
5. You notice mailbox missing after closing.  Builder says, “That doesn’t come with the house!”
6. Builder does not have or loses membership with the local homebuilders association.
7. Builder argues that a 2-10 home warranty is worthless.
8. Builder is in bad standing with the Better Business Bureau.
9. Builder designs own homes and refuses to alter anything (floorplans, move electrical outlets, change flooring, etc.) because, “If that buyer don’t like it, somebody else will.”
10. Even though agent he has hired is on duty at model home, builder personally seeks out potential buyers driving through neighborhood to negotiate without agent so he doesn’t have to pay a commission.

My colleagues and I have had such an easy time writing this, here are some bonus “signs” of a builder gone bad.

1. Builder is in bankruptcy.
2. Builder/agent’s office raided by Federal Agents.
3. Home built on top of underground spring, buried dump truck (personal landfill), or possible sinkhole with intention that no one will ever know.
4. Home comes with copy of  liability release form releasing county from future legal actions by builder because of faulty construction (given with certificate of occupancy immediately prior to closing).

Watch for more Top 10 lists coming soon.  Who do you want to see?