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Showing posts with label Cedar Hill. Show all posts
Showing posts with label Cedar Hill. Show all posts
Wednesday, June 6, 2012
Live here for less than you pay in rent!
Monday, February 15, 2010
Wednesday, December 2, 2009
Monday, December 22, 2008
CBS NEWS VIDEO
Mortgage meltdown to continue. Some areas are to be more affected than other areas.
CLICK HERE TO WATCH 60 MINUTE SPECIAL
CLICK HERE TO WATCH 60 MINUTE SPECIAL
Monday, July 14, 2008
Mortgage companies and bad lending practices
With news that IndyMac is being absorbed by the government, Freddy Mac and Fannie Mae are in trouble and the bailout of Bear Stearnes, it just makes me realize that the last 8 years of lending practices has been the worst thing for our industry.
Sure, the last 8 years have been great for business. From lenders, title companies, Realtors, home warranty providers and anyone else that benefits from real estate....the business was great.
I often time found myself wondering, "how are these lenders able to give people that can't verify their income a loan for 105% of the homes worth?". But of course, I like so many others just figured that the banking industry knew what they were doing.
I am proud to say, that only one of the couples that I have sold a house to have been foreclosed on. That foreclosure had more to do with health than a bad loan product. I always make sure that my clients are NOT getting into a situation where I wouldn't place myself in. That's what a good agent does. They are your fiduciary. They act in your best interst.
Now, the "mortgage meltdown", as it has been named, is affecting everyone. The home that forecloses down the street affects my property value just as much as anyone else. To top it off? These bailouts will be paid by us, the taxpayers. The last 8 years were to good to be true. Now, it seems, the house of cards has come crashing down.
Sure, the last 8 years have been great for business. From lenders, title companies, Realtors, home warranty providers and anyone else that benefits from real estate....the business was great.
I often time found myself wondering, "how are these lenders able to give people that can't verify their income a loan for 105% of the homes worth?". But of course, I like so many others just figured that the banking industry knew what they were doing.
I am proud to say, that only one of the couples that I have sold a house to have been foreclosed on. That foreclosure had more to do with health than a bad loan product. I always make sure that my clients are NOT getting into a situation where I wouldn't place myself in. That's what a good agent does. They are your fiduciary. They act in your best interst.
Now, the "mortgage meltdown", as it has been named, is affecting everyone. The home that forecloses down the street affects my property value just as much as anyone else. To top it off? These bailouts will be paid by us, the taxpayers. The last 8 years were to good to be true. Now, it seems, the house of cards has come crashing down.
Thursday, July 3, 2008
Discount brokers
ex-employee
As an insider, I wanted to chime in. I bought a BuyOwner internet only package in August of 05' for $2,000. I was so impressed with the program, I applied for a job, and to my suprise, I was hired.
I started in Oct. of 05' and quit in March 06'. I still have not sold my house, one year later. I quit because I came to the conclusion that in my geographical location, BuyOwner does not work effectively. I could not justify selling a product that was not up to par.
At the sales meetings I kept asking what my customers were asking me, 'what is the average time on market, and what percentage of houses sell'? In training, we are told to respond, 100% of our homes sell, because we advertise until sold. O.k., than what is the average time on market? We don't know, because we only advertise the property, not sell the property.
A lot of customers do not tell us when their house sells. (I personally do not believe this). The reality of it is that if BuyOwner wanted to know these statistics, all they would have to do is a simple follow up phone call to the customer. It states in the contract that after six months of no contact, you will be taken out of the system. This would lead me to believe that BuyOwner does know.
These statistics, are held closely to the vest, and are not givin to consultants. In addition, all the people you see in the comercials, are from other parts of the country (Florida) where real estate is 'HOT', not Houston.
Best regards,
Lyle
Houston, TX
As an insider, I wanted to chime in. I bought a BuyOwner internet only package in August of 05' for $2,000. I was so impressed with the program, I applied for a job, and to my suprise, I was hired.
I started in Oct. of 05' and quit in March 06'. I still have not sold my house, one year later. I quit because I came to the conclusion that in my geographical location, BuyOwner does not work effectively. I could not justify selling a product that was not up to par.
At the sales meetings I kept asking what my customers were asking me, 'what is the average time on market, and what percentage of houses sell'? In training, we are told to respond, 100% of our homes sell, because we advertise until sold. O.k., than what is the average time on market? We don't know, because we only advertise the property, not sell the property.
A lot of customers do not tell us when their house sells. (I personally do not believe this). The reality of it is that if BuyOwner wanted to know these statistics, all they would have to do is a simple follow up phone call to the customer. It states in the contract that after six months of no contact, you will be taken out of the system. This would lead me to believe that BuyOwner does know.
These statistics, are held closely to the vest, and are not givin to consultants. In addition, all the people you see in the comercials, are from other parts of the country (Florida) where real estate is 'HOT', not Houston.
Best regards,
Lyle
Houston, TX
Monday, December 31, 2007
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