Why the Golden Rule is Killing Us

Remember in grade school, they always taught us the Golden Rule?  "Do unto others as you would have them do unto you".  I believe that's a stupid rule - why should I treat everyone the way I want to be treated? Shouldn't I treat people the way they want to be treated?  Does it not make more sense for me to spend time getting to know people and find out what they like?
My sixth grade teacher and principle Mr. Roberts taught us we should be better than that - we should follow what he called the "Platinum Rule".  Do unto others as THEY would have you do unto them".  I believe this rule is very valid in life as well as real estate.  It does require that you get to know the people you are speaking with - in short, it requires you to listen - something humans do not typically do very well.  I also believe this is a primary reason why agents lose out on listings and deals - they're not listening to their clients. 
Another Great teacher in my life Gene Boaz always said that God gave us 2 ears and 1 mouth for a reason.  He intended us to listen twice as much as we speak.  That's something that we often struggle with - especially those of us that like the sound of our own voice.  So before you go off on your next appointment - take some time to research more than just the house.  Take time to find out who the people are, what are their interests, how do they like to be treated.  And then wish them a Merry Christmas, or a Happy Hanukkah, or Happy Kwanzaa, or even a Happy Solstice.  You might find that you end up with more than just a client,  but a good friend, and that you have more in common that you thought. 

Photo:http://www.essex1.com/pages/paul/bible-golden-rule.html

The title track to your work

What is the title track to your life?  What would it sound like. Would you buy the album. I started writing this post quite some time ago, deleted it, started it again, then deleted it, then watched "High Fidelity".  Now I'm writing it again.  Honestly, that's pretty much the soundtrack to my life.  Starting it, deleting it, then trying to start it again.  Have you watched High Fidelity?  I highly recommend it!  It's a great life movie, one that resonates, it's about a life that is far from perfect, an individual that is not perfect, who knows he is far from perfect, and yet continues unthwarted to search for the meaning of his life and finds it in Laura - the love of his life - and music, the vehicle of his life. (The interpreter, if you will). I'm still working on the sound track of my life - it has several notes that don't match - but no bad cords.  Every note is exactly as it should be.  Every choice, is my choice and a defining moment in my life.  I wouldn't trade them for the world. So how would you define your life?  What soundtrack would you use to define it?  What would it sound like?

Zombie Houses - Being Reined In?

The number of foreclosure homes, often called REO's (for Real Estate Owned) properties - what I like to call a Zombie House, have declined over the past few months.  In fact, inventory overall has declined which has lead to buyers struggling to find the home they're looking for.















Zombie homes in the Cincinnati area have declined, as well as nation-wide.  This doesn't mean they're not still there - in fact, about 27% or our market right now is lender owned property.  But with significant less inventory overall on the market everything is down.  Just for a quick peak - here are 11 Lender owned homes in the Cincinnati area that are ready to sell  If you are looking for a fixer upper to pick up as an investment property, something to flip, or a home to call your own at a great price - there are some outstanding lending options out there to help you.

I'll talk more about some of those next time.

If you simply can't wait though - give me a call

Chris W.
513-382-2474

Can a Professional Photographer Sell my House?

Okay, so you're ready to put your home on the market, you have cleaned, painted, repaired, landscaped, staged and have your home looking downright perfect!  As you interview the prospective REALTORS® one states that they will have a photographer come out and photograph your home.  They tell you that visually, this is what is needed to really make your listing standout online.  You think to yourself, "self - that sounds hard to argue with" so you hire that agent and their brokerage and then....wait - and then... wait - and then...well, you get the idea.  You notice that your listing is online, but there are no photos - and since this is such a popular service, you have to wait for up to 14 days before the photographer can get to your home.  Meanwhile, in listing land, numerous buyers have passed up your listing, quite possibly never to return, because you have no photos.  When was the last time you bought a pair of boots online with no idea of what they looked like?  Right, me too.

So, how do you avoid this?  Simply, make sure your agent does not put your listing in until all photos are taken and approved by you, for one.  But there is more at work here that you need to be aware of.  Are these "Photographers" really photographers?  Or are they just someone that was hired to take photos?  In my experience with professional photographers - well, they're expensive.  They kind of need to be since one of those little cameras can cost upwards of $10,000 - not to mention the lenses, the lighting, the stands, the training, and the trade organizations.  Yes, that's right, just like REALTORS® Photographers have organizations that they belong to.  They are not required to belong to them, but much like Home Inspectors, I don't know that you would want to hire one that wasn't a member.  My point, make sure you know what you are getting.

There are, for example, the Professional Photographers of America, the American Society of Media Photographers, or more locally,the Professional Photographers of Ohio.   While membership to these organizations is not mandatory, it at least tells you that this photographer is serious - these things cost money after all.  Your first question when bringing this up should probably be to see the photographer's resume and go from there.  Also, question if they have liability insurance, and ask to see it.  If they're coming into your home, lugging equipment around, you want to know they have coverage before they knock over that gargoyle fountain your mother-in-law gave you as a wedding gift. *ahem*

Most importantly, and I can't stress this enough, do NOT put your listing in the MLS or online, without having images to go along with it!  No one will look at it, in fact they will say, "clearly something is wrong with that one.  There must be a reason the seller doesn't want to show anyone what the house looks like".  Trust me - that's what they're saying.  So while a professional photographer is great, do you really need one?  With camera technology today, most agents can take pretty good photos of your home and property.  Just make sure that they do and that they get them online when the listing goes active!  Otherwise, what are you selling?

Say Goodbye to Summer - and Hello Odd Real Estate Market

Let's start with a chart, shall we?  I keep hearing about prices in the area improving - why would that happen?

If we think about the laws of "Supply and Demand" we see that our supply of residential inventory is quite low and has been ALL year long.  Considerably low.  In fact, if we follow the same trends as the previous two years....we may not have any inventory at all! (That's not likely to happen).  What this does indicate is that prices will hold steady, and more sellers will be encouraged to step into the market.  This also indicates to me, that if you are a seller right now who is not on the market but wants to be...GET THERE!  Get your house looking perfect - price it right with a professional and you could spend much less time on the market.  A telling figure; August Days on Market are down comparatively nearly 15%.  Average Continuous Days on Market is sitting at about 154 for August.  Many areas will experience much less.

Need more proof that low inventory helps housing prices?  Take a peek below:

My guess is that when I post this again in October that our September numbers are going to be in the positive from the previous two years.  One thing is for certain - 2012 housing prices in the Cincinnati Area have stabilized this year.

Another promising sign:

The blue line in 2012 is when the first time home buyer tax credit went away, so buying slowed considerably after June.  This chart shows we're back on the right track moving more inventory.  A fact that should encourage home sellers, because as I showed up top - this is with not much inventory compared to the two previous years.  Think about that...Low inventory, but Selling more Units than previous years.  This could be a very good Fall indeed!

As always if you would like to see how your home compares to the charts above - where it fits in, give me a shout.  Or, go here: www.chrisjwood.com  and fill out the form.

Chris W.

I couldn't possibly put a price on my home

I'm getting lots of calls about listings - which I love. And in this weird/odd/bizzaro market the longest conversations are about pricing. As it should be - beyond staging your home it's the one element that can most immediately dictate a sale. Price too high and you're hosed - price too low and you may feel like you left some money on the table...so how to price it...Just Right?

As a seller, pricing has to be the single most difficult issue to deal with.  “How do I price my home”?  The simple answer would be, of course, to hire an agent, but I find that answer a bit flip.  The truth of the matter is that pricing a home is NOT an exact science.  Sure, some agents are better at it than others, but in reality, we simply review the data that is made available to us.  We look at the sold homes and the pending homes and attempt to identify a trend and then assign value to your home.  This may, in fact, not be what buyers are willing to pay for it.  Things like that change, and can change quickly.

So what do you do?  First of all, when talking to your agent, be realistic and be honest.  Be upfront with what you owe on the property and take a good look at the cost of selling your home.  Any good agent will work up an Estimated Net Sheet which will estimate how much money you will have in your pocket once the sale is complete.  In the end, it shouldn’t matter what you sold the house for - Did you end up with enough money in your pocket to do what you wanted to do?  If yes, then you were successful!  Conversations with your agent can determine if your home’s value is solid enough to compete in this market.  Most agents I know, are happy to provide you with this information at no cost or obligation.  I know I do!  This is at the heart of what I do as your real estate consultant.

Looking for a place to start your research on home values near you? Look no further

Chris W.
chris@chrisjwood.com

Is that a listing in your pocket...?

Pocket Listings are simply properties where a seller wants to sell, but is not ready for the active market yet.  There can be several reasons why a seller finds themselves in this position.  Perhaps they have quite a bit of work to complete on the house prior to listing it or maybe it's a timing thing where they want to wait until Spring to list it publicly.



As real estate agents we often find ourselves privy to this inventory and we know that if a serious buyer can't find what they're looking for on the market, somewhere there is an agent that likely has this listing in their pocket.  Just think, as a seller, rather than spend time and money fixing up your house - you just sell it for an acceptable price without ever having to "actively" market it to every buyer and website out there!

Well, it happens - right here in river city.  As agents we have access to a website www.agentpocket.com where we can enter your property and market it to other real estate agents.  From there we can potentially help connect you with buyers who are frustrated looking at the same old inventory.

If you find yourself thinking about selling, but are not quite ready to jump into the active market - give me a call and we can discuss the values of a pocket listing.