Thought this was an interesting overview reporting from a Florida real estate auction done to sell a developer’s condos. I used to think of this as limited to the foreclosure scene but not anymore. We have a client who’s going to do one of these shortly so I’m very interested and will be reporting more in the near future.
As long as you can set a minimum bid, what’s to lose?
Here’s the story and the list from the Tribune’s piece:
•How long have you worked in real estate, and how long have you been licensed?
•Are you a Realtor? What professional designations do you have, and what special skills do they certify?
•Do you work alone, or do you have an assistant or support staff?
•How often will we be in touch during the searching and buying process?
• Can I look at homes without you?
•What makes you stand out among your peers, and do you have references from clients?
•Will you act as a buyer-broker, or do you represent the seller?
•How will you get paid, and may I have that in writing?
•How many other buyers are you representing?
A fair list I suppose. On the Listing side, I’d want to see a full marketing plan as to how he/she would be marketing your home…very specific: Internet, newspaper, signage, open houses, ect. Surely view other property’s he/she has currently listed.
On either side I’d want to know about community connections. When I think of an agent or two I work a lot with and think highly of, they are individuals who have a home in the community, perhaps have kids who’ve gone through or are in the schools, are involved in things like service organizations, Chambers of Commerce, ect.. I can think of a couple who are on the local school board.
I’d say the “real estate” stuff is more of a minimum bar to get over and the non-real estate knowledge and networks are how to really find an excellent real estate professional.
Here’s the recent piece about Citibank’s plan to impose a moratorium on most foreclosures as part of a series of initiatives aimed at helping at-risk borrowers remain in their homes. You’ll recall we previously reported Chase’s similar plan. I’m not sure how much longer Citibank’s going to be in business themselves.
Real estate, now more than ever is making headlines almost daily. We live in a real estate city and one where many have their financial future or retirement plans intertwined with the equity in their homes. Below are some recent headlines about Vancouver’s housing market. Confusing as ever, we have a positive housing story one day, followed by a gloomy one the next. When in doubt, look at the stats and decide for your self where our market is headed.
West Vancouver appears to be steering in the direction of increasing densification. This issue has been met with strong opposition. I think adding more townhomes ect. is a very good idea, carriage houses and secondary suites included.
Here are a few recent articles:
Gregor Robertson Vows to end homelessness.
That’s quite the bold statement. Let’s see what happens.
Bank pulls funding on luxury condo project
Housing slump deepens as prices drop most in 26 years
Canadian housing sales plunge as crisis deepens
Metro Vancouvers housing market will bounce back
City’s secret deal continues to raise important questions
Homeowners’ new reality: You’re suddenly poorer
What’s it like to sell real estate in this market?
Well, it’s pretty much what you would expect… CRAPPY! Lol. Current clients excluded, I find many of the CMA’s I have presented recently have been rejected from sellers that can’t accept our new market environment. Many want to sit and wait until the “market comes back”. When will that be? That’s a very good question but one without an answer. Timing the market is a real gamble and even with a realistic price you need some luck to get sold.
I did a quick check to see where sales are trending this month. By my count, if the trend holds or worsens sales will be down by more than 70% compared with last November. If inventory stays at todays level, by month end we will have 24 MOI. This hardly points to a mild correction.
