Real Estate Buyers Quotes

But as incentives go, commissions are tricky. First of all, a 6 percent real-estate commission is typically split between the seller’s agent and the buyer’s. Each agent then kicks back roughly half of her take to the agency. Which means that only 1.5 percent of the purchase price goes directly into your agent’s pocket. So on the sale of your $300,000 house, her personal take of the $18,000 commission is $4,500. Still not bad, you say. But what if the house was actually worth more than $300,000? What if, with a little more effort and patience and a few more newspaper ads, she could have sold it for $310,000? After the commission, that puts an additional $9,400 in your pocket. But the agent’s additional share—her personal 1.5 percent of the extra $10,000—is a mere $150. If you earn $9,400 while she earns only $150, maybe your incentives aren’t aligned after all.

home buyers sometimes make the mistake of focusing on home acquisition as an investment and overlook quality-of-life factors such as proximity to schools, parks, extended family, and work—all of which are the aspects of daily life that make for a healthy, safe, and comfortable home.

If you study the words in ads for a real-estate agent’s own home, meanwhile, you see that she indeed emphasizes descriptive terms (especially “new,” “granite,” “maple,” and “move-in condition”) and avoids empty adjectives (including “wonderful,” “immaculate,” and the telltale “!”). Then she patiently waits for the best buyer to come along

Putting makeup on the face of your listing—before the big date—will increase its value in the eyes of buyers.

After forty years of selling wholesale industrial deodorizing supplies, one establishment is forced to open its doors to the public. In the lingo of the trade, a salesman explains why their large institution buyers have gone elsewhere. Who wants to stand downwind of the League o' Nations every time some freshman with a bladder infection pulls a Nebuchadnezzar?

. John Bonavia is one real estate entrepreneur who has worked hard to get a successful fortune in real estate. His plans and strategies have helped in getting the best deals to the desk along with attracting potential buyers for his properties. When we talk about the real estate market it is very important as a beginner or a previous investor to know which market you are investing in.

There are so many great reasons to devote all of your time and effort to taking and marketing listings. The Millionaire Real Estate Agent grasps the incredible advantages of making, obtaining, and marketing seller listings their primary lead-generation focus, and they do so almost exclusively. Over time, they will hire one or more buyer specialists to work the buyer side of the business and concentrate their energy on the high-return, high-leverage business of listings.

At all times it is a bewildering thing to the poor weaver to see his employer removing from house to house, each one grander than the last, till he ends in building one more magnificent than all, or withdraws his money from the concern, or sells his mill, to buy an estate in the country, while all the time the weaver, who thinks he and his fellows are the real makers of this wealth, is struggling on for bread for his children, through the vicissitudes of lowered wages, short hours, fewer hands employed, etc. And when he knows trade is bad, and could understand (at least partially) that there are not buyers enough in the market to purchase the goods already made, and consequently that there is no demand for more; when he would bear and endure much without complaining, could he also see that his employers were bearing their share; he is, I say, bewildered and (to use his own word) "aggravated" to see that all goes on just as usual with the millowners. Large houses are still occupied, while spinners' and weavers' cottages stand empty, because the families that once filled them are obliged to live in rooms or cellars. Carriages still roll along the streets, concerts are still crowded by subscribers, the shops for expensive luxuries still find daily customers, while the workman loiters away his unemployed time in watching these things, and thinking of the pale, uncomplaining wife at home, and the wailing children asking in vain for enough of food--of the sinking health, of the dying life of those near and dear to him. The contrast is too great. Why should he alone suffer from bad times?

Savvy Fox was founded by Jacqueline Dwyer, a Registered Property Valuer and an Award Winning, Licensed Real Estate Agent and Auctioneer with over 15 years' experience. Jacqueline, or Jac, as you will soon come to know her is a buyer's agent in Gold Coast, QLD and she is here to help you find the property of your dreams.

Discovering that difference all came down to a simple but powerful idea. Liniger knew that RE/MAX was not in the real estate business; it was in the real estate agent business. Its true customer was not the home buyer in the real estate market, but the real estate agent meeting the needs of that home buyer.

For sellers, their goal is to net them the most amount of money, in the shortest amount of time, with the least amount of problems. For buyers, their goal is to find them just the right home, at the best price, in the right time, with the least amount of problems. Great service begins with a clear purpose for why someone should work with you.

Here is what you need to know about your sales contracts written: 1. Number of units written 2. Total volume written 3. Gross income written The best practice is also to track how many of your contracts written were listings and how many were buyers.

Avery Grauer graduated from Yale Medical School and is currently a real estate professional in her hometown in Greater New Haven. She grew up in a family of multi-generational real estate professionals and enjoys helping both buyers and sellers meet their goals. From a young age, Avery has loved architecture.

A major culprit is the valuation and financing of real estate. Banks are lending for real estate on the basis of the real estate’s value. They typically lend, according to where we stand in the real estate cycle, between 80% to 100% of the value. This is because real estate is allegedly a “safe” asset. This is by itself extraordinary. First, the historic volatility of real estate prices and the history of economic cycles reveal that real estate is not a safe, but a risky asset. Its physical nature does not guarantee its value. This over-lending to real estate buyers comes at the expense of lending to small business, which necessarily captures a smaller share of lending.

While great negotiators can sometimes turn situations where there is a gap between buyer and seller MAOs, in many cases, the price gap is impossible to overcome and the likelihood of a deal is small. For that reason, we typically like to take one of two approaches to these types of negotiations: Go in with a very low offer (typically at or below your target price) in hopes of shocking the seller into realizing that his property is worth much less than he had thought. If he doesn’t walk away and is still willing to negotiate, there is a chance that he is more highly motivated than you had anticipated, and he may reduce his MAO. If we wanted to go this route for the example above, we’d likely pick an opening price bid somewhere in the $140,000 to $150,000 range. Communicate to the seller that you don’t want to insult him with a low price and that you don’t plan to make an offer. The seller will either thank you for your honesty (in which case there was no deal to be made), or the seller will ask you what your price would have been. If the seller is interested in what you would have offered, that’s an indication that he may be more motivated than we suspected, and again, may be willing to move off his MAO. If the seller asks you what your offer would have been, we typically will present the offer exactly as we did in the first example above, but indicate that we might have a bit of flexibility in that price.

I’ll then step away to call my wife, spend a couple minutes on the phone with her, come back to the buyer, and say: Me: “Okay, my wife is good with everything except the closing date— she reminded me that we have a vacation scheduled the week you want to close, so we’d have to close the week prior. Are you okay with an earlier closing?” At this point, I’m already off the phone with my wife, so the buyer knows that any further negotiation or a request for more concessions from me would likely result in another phone call and more wasted time. Since I didn’t ask for anything too big, there’s a reasonable chance he’ll just say okay, and we’ll get the deal we wanted, plus an earlier closing date.

Farmland’s plants had a key advantage: they were located right next door to their customers—the farmers. This gave them an edge on transportation costs. If these plants closed, there would be a dramatic fertilizer shortage. It would be simply impossible to import all the fertilizer that midwestern farmers needed. The Farmland plants were similar to Koch’s oil refinery in Pine Bend. They were perched on exclusive real estate, giving them an advantage over their competitors. Demand wasn’t going to disappear, and it wasn’t feasible for new competitors to set up shop nearby. Perhaps most important, nobody else in the marketplace attributed this value to the Farmland plants. When Farmland put the plants up for sale, the co-op got very little interest. There were two big, publicly traded fertilizer companies that seemed like natural buyers, called Agrium and CF Industries. But these companies were also embroiled in the natural gas crisis and seemed obsessed with their quarterly losses and the near-term economics of the fertilizer business.

As monthly mortgage payments rose for home buyers over the past several years as a result of higher mortgage rates (coupled to increasing home prices), what simultaneously so too did rise were earned income opportunities for bondholders. Bondholders benefitted…at the expense of home buyers. If the Fed does indeed enact two rate cuts through the end of 2024, mortgage rates are likely to drop. As too will yields bondholders attain, through their purchase of newly-issued 10-year Treasuries. A trade-off is in the making. A much-welcomed rebalancing.

When people gather and discuss in a group, independence of thought and expression can be lost. Maybe one person is a loudmouth who dominates the discussion, or a bully, or a superficially impressive talker, or someone with credentials that cow others into line. In so many ways, a group can get people to abandon independent judgment and buy into errors. When that happens, the mistakes will pile up, not cancel out. This is the root of collective folly, whether it’s Dutch investors in the seventeenth century, who became collectively convinced that a tulip bulb was worth more than a laborer’s annual salary, or American home buyers in 2005, talking themselves into believing that real estate prices could only go up. But loss of independence isn’t inevitable in a group, as JFK’s team showed during the Cuban missile crisis. If forecasters can keep questioning themselves and their teammates, and welcome vigorous debate, the group can become more than the sum of its parts.

TriangleHouseBuyer, we are a real estate solutions and investment firm that specializes in helping homeowners get rid of burdensome houses fast. We are investors and problem solvers who can buy your house fast with a fair all cash offer.

For sixteen years, I had a spectacular real estate career in Tallahassee, Florida. I loved receiving telephone inquiries and making cold calls. I knew that if I could meet people on the phone, I could usually turn them into buyers.

Anytime you have multiple offers and you have cash in the mix, the conventionally financed borrower is going to try as hard as they can to look like a cash buyer, even though they’re still being financed,” said Eric Hagstette, owner and principal broker at Inhabit Portland, a real estate company. When sellers have a choice, they prefer the sure thing. Unlike cash, financing can fall through, especially in a market with tighter credit. Buyers who turn up with a check rather than a pre-approved loan are more likely to complete the transaction –and sellers know it. To compete, some buyers are simply borrowing cash from friends and family and financing their houses after closing — bout 14 percent of cash buyers in the greater Portland area between 2011 and the end of 2014, in fact, according to RealtyTrac. Others are overbidding to ram deals through quickly, then waiving the right to negotiate price if an appraiser doesn’t agree. The practice comes with significant risks. It also allows the next guy to price his house just as high, while one sale becomes a benchmark for the starting price of the next, Hagstette said.

Data on how such buyers affect the listed market are difficult to corral. But an InvestigateWest analysis of roughly 12,000 buyers who paid cash for listed homes in Multnomah County between 2006 and 2014 found more than 850 individuals or their corporate doppelgangers buying between two and nine homes. Those buyers were joined by the 26 institutional investors that captured hundreds more. Translation? Among the approximately 12,000 purchases, there were at least 2,750 flips, remodels, redevelopments and new rental acquisitions in place of new homeowners at the lowest price point of the market. Owing to the lack of transparency in real estate holdings — many homes were acquired by opaquely named corporations, and some buyers use several at a time — and to the tendency of equity groups to place houses in the names of their investors rather than of the investment company, that number is likely much higher.

To quiet the land. When there has been unspecific trauma on the land and residents feel the impact, it is possible to do a constellation to identify the trauma and ask blessing of the land To inform land use: reforestation, development of both the land and communities that interface with the land To inform architectural design: Identify locations for green spaces and test environmentally sound building materials To inform energy choices: passive solar, hydro, wind, alternative building practices To support real estate transactions- Why won’t a place sell, supporting potential buyers to be able to look at properties in a systemic way To support environmentally based community action agencies Work with pets- both for veterinary practice and to

Often buyers make the mistake of believing they must have a specific home in mind first. That’s counterproductive, counter-successful thinking. Moving through the loan application process early is the most productive and most successful.

And knowing in advance how much they can afford, these buyers don’t run the risk of finding the “perfect home” only to discover it lies beyond their financial reach.

It was possible in these times to mortgage a person as one would mortgage a house. Buyers could pay for slaves by making an initial down payment and taking on a mortgage to pay the remainder, with interest. They could also take out a mortgage on the people they already owned, using their human property as collateral. As with real estate, they could rent out those they enslaved, adding improvements—such as apprenticeships—which increased their value. As with a house, however, human property was also subject to foreclosure, and this is precisely what happened to William and Eliza.

Identifying – and then acquiring – non-performing properties, on which developers can profitably build (or rehab) within neighborhoods which are in the process of being gentrified, has long been cited as one obstacle when it comes to increasing access to affordable housing. Then, once a suitable property has been identified to redevelop, would the developer elect to build affordable housing when homeownership may have been proven to be – historically speaking – difficult to attain for residents who live in neighborhoods where a disproportionately notable portion of potential future home buyers fall within a “very-low” income categorization? “Very low,” meaning, an income at or below 50% of HUD median income. Lower credit scores for prospective home buyers who live in now-underserved neighborhoods could also be one assumption developers have. This would further exacerbate the limited-access-to-quality-affordable-housing challenge.

The buyer you find actually steps into your shoes and buys the property on the favorable terms you negotiated.

The Probate Home Sale When an offer to purchase a home being sold through probate in New Jersey has been accepted, a notice will be mailed to heirs of the estate. This notice is the Notice of Proposed Action. The Notice of Proposed Action enables estate heirs to object to the sale of the home. Should an estate heir - or, should estate heirs - object to the sale of the home, a court date will be set. Any offer to purchase a home being sold through probate must be equal to - or greater than - 90% of the appraisal value of the home. The appraisal value of the home is provided to the court by a licensed real estate appraiser who has been designated by the court to conduct such an appraisal. Whats next? The attorney for the estate schedules a confirmation hearing. This hearing takes place within 45 days of the filing date. Throughout the process, the listing agent of the home being sold through probate continues to show the home to prospective buyers. One directive the listing agent has in continuing to show the home to buyers is to determine whether an over-bidder emerges. An over-bidder is a buyer who submits their offer to purchase the home at a sale price which is greater than offers which have been received, to date. Thus, raising the sale price of the home. Increasing proceeds for the estate. In the event that there is an offer submitted by an over-bidder, the over-bidder attends a confirmation hearing. At the confirmation hearing, the over-bidder is required to present a certified check which is equal to or greater than 10% of the proposed sale price.

Face Problem to Sell Property? Confuse how to take Genuine Buyer? Every homeowner will face the challenge of pricing their home for sale. The main problem is facing reality. No matter what your home is like, you might think it is worth more than it is because the things that don’t bother you might really bother other people. Usually, the homeowner doesn’t even meet the potential buyers. The real estate people handle everything. Because they know the exact situation of real estate market, goals, credit etc. To get a genuine buyer for your property, we must list the property of ours on the listing websites. we build genuine leads from these platforms as per our requirements to sell property.

Mortgages on smaller properties like single-family homes are almost always guaranteed through the buyer’s own personal earning potential and wealth. You may be surprised to learn that larger investment property loans are secured by the asset itself. In other words, instead of the $2 million building riding on your own wealth, it is riding on its own valuation. This already is less risk to you.

If we need 320 closed units to reach our GCI goal, we’ll still need to work backward a bit further. We’ll need to know: 1. the number of buyer listings and seller listings we’ll need to take to net 320 closed sides per year 2. the number of buyer and seller appointments we will need to go on to take the appropriate number of buyer listings and seller listings 3. most importantly, the amount of lead-generation activity needed to generate the appropriate number of buyer and seller appointments.

Over time, they will hire one or more buyer specialists to work the buyer side of the business and concentrate their energy on the high-return, high-leverage business of listings. (And once that is fine-tuned, they may then hire a listing agent to work the seller side as well.)

For a real estate sales business, there are three distinct areas of staffing: 1. Administrative—Marketing and administrative manager, transaction coordinator, listings manager, telemarketer, lead coordinator, assistant, and runner 2. Buyer—Lead buyer specialist, buyer specialists, and showing agents 3. Seller—Lead listings specialist and listings specialists

Investment firms are buying up more vacation homes, aiming to cash in on growing demand from tourists and remote workers. Most vacation rental homes are owned by small-time owners who list their properties on websites such as Airbnb Inc., but the number of financial firms investing in the sector is growing. New York-based investment firm Saluda Grade is launching a venture with short-term- rental operator AvantStay Inc. to buy about $500 million of homes, the companies said Tuesday. Saluda Grade said it is also looking to raise debt by selling mortgage bonds backed by its homes to investors, the first vacation-rental mortgage securitization, according to the company. Andes STR, a startup that buys and manages short-term rental homes on behalf of investors, also recently signed a deal with Chilean investment firm WEG Capital to buy roughly $80 million of properties in the U.S., Andes said. These investors are betting they can get higher returns if they rent out homes by the night instead of by the year. Low-interest rates have made it more attractive to borrow and Buy Traditional Rental Homes, inflating property prices and making it harder for new buyers to turn a profit. That has prompted some institutions and wealthy families to look in more obscure corners of the property market where competition is smaller, investment advisers say. Some are turning to investments in vacation homes, where demand has surged in many places during the pandemic as more people choose to work from remote locations and leisure travel heated up last year. “There’s a lot more yield available in the short-term market,” said Saluda Grade’s chief executive, Ryan Craft. It is the latest sign of how the pandemic is changing the way people work and live, and how real-estate investors are angling to find new ways to profit from these shifts. Saluda Grade is targeting homes within driving distance of major population centers, Mr. Craft said. His company will buy the homes and AvantStay will manage them for a fee. But while vacation-rental homes can offer higher returns, they also pose challenges to investors. Mortgages are usually more expensive and harder to get for short-term rentals than for owner-occupied homes, said Giri Devanur, CEO of reAlpha Tech Corp., a startup that wants to pool money from small-time investors to buy short-term-rental homes.

Why the correlation between popular interest and subsequent low returns? Simple: Driving the price of any asset higher requires the entry of new buyers, and when everyone is invested in stocks, real estate, or gold, there’s no one left to join the party; the entry of naïve, inexperienced investors usually signals the end.

OVER THE next few years, the number of African Americans seeking jobs and homes in and near Palo Alto grew, but no developer who depended on federal government loan insurance would sell to them, and no California state-licensed real estate agent would show them houses. But then, in 1954, one resident of a whites-only area in East Palo Alto, across a highway from the Stanford campus, sold his house to a black family. Almost immediately Floyd Lowe, president of the California Real Estate Association, set up an office in East Palo Alto to panic white families into listing their homes for sale, a practice known as blockbusting. He and other agents warned that a “Negro invasion” was imminent and that it would result in collapsing property values. Soon, growing numbers of white owners succumbed to the scaremongering and sold at discounted prices to the agents and their speculators. The agents, including Lowe himself, then designed display ads with banner headlines—“Colored Buyers!”—which they ran in San Francisco newspapers.

The secret to getting deals is getting your buyer or seller to like and trust you as fast as possible. I have some awesome tips and techniques that you must know before ever taking another lead again.

While you don’t necessarily want to come right out and ask a seller if she’s talking to any other investors—you don’t want to remind her that she has other options—there are ways to glean this information more subtly. I like to ask sellers this question: Investor: “If we can’t come to an agreement for me to buy your house, what do you think you’ll do?” This gives the seller an opportunity to discuss her alternative options (she’s talking to other buyers, she doesn’t really need to sell, etc.), which is what will ultimately drive her level of motivation. The better her alternatives, the more careful you need to be about an aggressive offer; the fewer alternatives she has, the lower your offer can be without her jumping ship and going after another option.

Pictures: If you can look at the pictures in a listing and determine that the property is in bad condition, other buyers can too, and they are more likely to avoid setting up a showing or making an offer on that property.

And if a listing has no pictures whatsoever, or no interior pictures, that’s an even better indication that the property is in such bad condition that the seller or agent believes the pictures would discourage most buyers from setting up a showing. Any retail property that is in distressed condition is going to get less buyer interest,

Zeckendorf’s autobiography was packed with colorful stories, but what fascinated me most was his strategy. Zeckendorf viewed assets as a sum of parts, so he could increase the value of the whole. Various parts were more valuable to different buyers, so Zeckendorf could maximize the value of his holding overall, in effect making 1 + 1 = 3. For example, One Park Avenue in Manhattan, which the marketplace had valued at $10 million, was ultimately worth $15 million in Zeckendorf’s hands. He calculated everything separately—the building’s title, the land, the leases, the individual mortgages. I thought this was brilliant. I adopted the approach both inside and, later, outside of the real estate industry.

As any truly formidable real estate investor will tell you, success doesn’t come from knowing how to negotiate—it comes from knowing how to solve problems. Your best deals won’t come from exerting leverage over the other party or from charming a buyer or seller with your charisma. Your best deals will come from solving the problems that are motivating the other party to want to enter into the transaction in the first place.

Your main goal for analyzing the national and local real estate markets is to determine whether you are operating in a buyer’s market or a seller’s market. This will give you an idea of which party will have the best alternatives—and the most leverage—in the negotiations.

So what I did was I went to the federal Department of Housing and Urban Development and asked for a list of the people who do these kinds of deals. And I found that there were a few accounting firms that specialize just in these programs. And they, in turn, worked with the syndicators that were the buyers of these tax shelters.

When condominiums don’t meet government-backed lenders’ standards they become non-warrantable. This means that buyers cannot get standard loans for these properties. They will have to pay cash or pay exorbitant rates through private lenders. When a building is full of non-warrantable condos, the pool of buyers shrinks and lowers the condo’s value.

So that’s where to look for the bursts in the next real estate crash. It’ll come from those cities where foreign buyers and wealthy speculators have driven prices to the extremes, specifically Hong Kong, London, Singapore, Manhattan (as opposed to broader New York), Vancouver, San Francisco, and Sydney. On the flip side, the most affordable large cities in the United States are Atlanta, with valuations at 3.1 times income, Dallas at 3.7, Chicago at 3.8, and Tampa and Phoenix, both at 4.1. These are cities where everyday people can still (barely) afford houses.

In the first case, you fear setting the price too low; in the second, you fear setting it too high. It is the job of your real-estate agent, of course, to find the golden mean. She is the one with all the information: the inventory of similar houses, the recent sales trends, the tremors of the mortgage market, perhaps even a lead on an interested buyer. You feel fortunate to have such a knowledgeable expert as an ally in this most confounding enterprise. Too bad she sees things differently. A real-estate agent may see you not so much as an ally but as a mark. Think back to the study cited at the beginning of this book, which measured the difference between the sale prices of homes that belonged to real-estate agents themselves and the houses

You looked at all the houses in your price range currently on the market, and you made your buying decision. Make sure the agent’s pricing strategy is based on what buyers are going to compare your home to, including new construction, because it is competing for your buyer also.

Just as men often marry brunettes after years of dating only blondes, and end up strolling on Madison Avenue with the small white puppy they swore they would never have, buyers are liars.

anyone else who has an ear to the ground about what is happening in a particular market or submarket. When talking to real estate agents, introduce yourself as an interested buyer/investor and ask to be referred to the top broker at the firm. Take that person to lunch–get the inside scoop on the local economy, potential deals, and what’s in the pipeline in general. They will know things that you won’t be able to find online! Finally, check out the submarket in person. Online research is important, but there is no substitute for feet on the ground.

Over the next few years, the number of African Americans seeking jobs and homes in and near Palo Alto grew, but no developer who depended on federal government loan insurance would sell to them, and no California state-licensed real estate agent would show them houses. But then, in 1954, one resident of a whites-only area in East Palo Alto, across a highway from the Stanford campus, sold his house to a black family. Almost immediately Floyd Lowe, president of the California Real Estate Association, set up an office in East Palo Alto to panic white families into listing their homes for sale, a practice known as blockbusting. He and other agents warned that a 'Negro invasion' was imminent and that it would result in collapsing property values. Soon, growing numbers of white owners succumbed to the scaremongering and sold at discounted prices to the agents and their speculators. The agents, including Lowe himself, then designed display ads with banner headlines-"Colored Buyers!"-which they ran in San Francisco newspapers. African Americans desperate for housing, purchased the homes at inflated prices. Within a three-month period, one agent alone sold sixty previously white-owned properties to African Americans. The California real estate commissioner refused to take any action, asserting that while regulations prohibited licensed agents from engaging in 'unethical practices,' the exploitation of racial fear was not within the real estate commission's jurisdiction. Although the local real estate board would ordinarily 'blackball' any agent who sold to a nonwhite buyer in the city's white neighborhoods (thereby denying the agent access to the multiple listing service upon which his or her business depended), once wholesale blockbusting began, the board was unconcerned, even supportive. At the time, the Federal Housing Administration and Veterans Administration not only refused to insure mortgages for African Americans in designated white neighborhoods like Ladera; they also would not insure mortgages for whites in a neighborhood where African Americans were present. So once East Palo Alto was integrated, whites wanting to move into the area could no longer obtain government-insured mortgages. State-regulated insurance companies, like the Equitable Life Insurance Company and the Prudential Life Insurance Company, also declared that their policy was not to issue mortgages to whites in integrated neighborhoods. State insurance regulators had no objection to this stance. The Bank of America and other leading California banks had similar policies, also with the consent of federal banking regulators. Within six years the population of East Palo Alto was 82 percent black. Conditions deteriorated as African Americans who had been excluded from other neighborhoods doubled up in single-family homes. Their East Palo Alto houses had been priced so much higher than similar properties for whites that the owners had difficulty making payments without additional rental income. Federal and state hosing policy had created a slum in East Palo Alto. With the increased density of the area, the school district could no longer accommodate all Palo Alto students, so in 1958 it proposed to create a second high school to accommodate teh expanding student population. The district decided to construct the new school in the heart of what had become the East Palo Alto ghetto, so black students in Palo Alto's existing integrated building would have to withdraw, creating a segregated African American school in the eastern section and a white one to the west. the board ignored pleas of African American and liberal white activists that it draw an east-west school boundary to establish two integrated secondary schools. In ways like these, federal, state, and local governments purposely created segregation in every metropolitan area of the nation.

recognizable and memorable will almost always have the first opportunity when a seller or a buyer is ready to talk about real estate needs.

FSG Realty is stewarding real estate experiences for buyers, sellers, investors and agents through education, communication and contributions.

In a buyers market, sellers are often going through the five stages of grief: 1. Denial, 2. Anger, 3. Bargaining, 4. Depression, then 5. Acceptance. My job is to counsel them through it. Martin Bouma, Ann Arbor, MI

Millionaire Real Estate Agents are seller listing lead generators first, marketers of those seller listings second, and buyer listing lead generators third.

When a house is personalized, buyers feel like they're intruding into another's den. Instead, mimic a model home. Pictures of the wedding, fridge magnets from the Jamaican honeymoon, and the thousand frames of Junior's grin gotta go.

Real estate developer offer varied deals to attract home buyers. This includes low attention loan, freebie, and supplementary features in the residence.

Arts & Entertainment, Construction, Human Resources, Legal & Government, and Real Estate having the highest open rates.

The instability of a white neighborhood under pressure from the very possibility of integration put the neighborhood into a kind of real estate purgatory. It set off a downward cycle of anticipation, in which worried whites no longer bought homes in white neighborhoods that might one day attract colored residents even if none lived there at the time. Rents and purchase prices were dropped “in a futile attempt to attract white residents,” as Hirsch put it. With prices falling and the neighborhood’s future uncertain, lenders refused to grant mortgages or made them more difficult to obtain. Panicked whites sold at low prices to salvage what equity they had left, giving the homeowners who remained little incentive to invest any further to keep up or improve their properties. Thus many white neighborhoods began declining before colored residents even arrived, Hirsch noted. There emerged a perfect storm of nervous owners, falling prices, vacancies unfillable with white tenants or buyers, and a market of colored buyers who may not have been able to afford the neighborhood at first but now could with prices within their reach. The arrival of colored home buyers was often the final verdict on a neighborhood’s falling property value rather than the cause of it.

Raskob decided to enter the world of New York real estate and give his pal a job as the head of the undertaking. Raskob convinced some of his wealthy friends, including Pierre S. du Pont, to join him in a syndicate, and they negotiated with Chatham Phenix for the Waldorf-Astoria site. They were the mysterious prospective buyers whose interest in the site had been floated. By all accounts, they got the property for a song—$16 or $17 million. On August 29, 1929, the same day the city announced that Second Avenue would be the site for the next subway line, former governor Al Smith lived up to a promise made months before to newspaper reporters to announce his business plans. From his suite in the Hotel Biltmore, surrounded by trappings of his former office, Smith announced the creation of a company that would build a thousand-foot-high eighty-

Timing is a critical factor in every deal, and I knew that the time was right for my now historic speech:  The Tortoise Briefcase Address.  In a deadpan, matter-of-fact manner, I said, "Boys, there's no sense going around in circles all night.  It looks like we aren't going to be able work this deal out, so let's just write if off to experience.  Hey, it's not the last deal in the world." I then looked at Ernest and said, "Don't worry, I'm working on a lot of other properties.  Sooner or later, I'll come across a deal for you where the mathematics make sense."  I then turned to the Booze Brothers and said, "As to your properties, I've been talking to several other prospective buyers, and I think I can crank up some serious interest in the next couple of weeks."  (You can just imagine how happy Ernest was to hear that.) I then put my papers back in my briefcase, closed it, and snapped the latches shut—very slowly—one latch at a time.  Then I rose, smiled pleasantly, started toward the door, paused, glanced back over my shoulder, and, in the most cavalier manner, said, "Why don't you guys get some sleep.  I'll be in touch with you in the next couple of weeks." I was conscious of my every move and every word as I completed The Tortoise Briefcase Address in a style that rivaled some of the Booze Brothers' greatest performances.  I will always remember the distance—I was approximately three feet from the door—when Ernest and the Booze Brothers yelled out, in unison, "Wait!"  That was the most telltale word anyone had ever spoken to me.  That one word confirmed that I had been right all along—that this was the right buyer and the right seller in the right place at the right time. What Ernest had meant by that one word was that there was no way, after all the effort he had put into this deal, that he was going to miss the opportunity to propel his company into a significant real estate investment trust just because some real estate broker happened to be crazy. As for the Booze Brothers, the word wait was their way of saying that there was no way, after all the work they had done, that they were going to miss the opportunity to pocket more than $2 million profit just because some real estate broker was too stupid to understand the consequences of his actions.

I had known many real estate agents who spent day after day discussing multimillion-dollar deals with other agents, seemingly achieving fulfillment from their conversations alone.  They steered clear of the excruciating effort it takes to secure a listing directly from a seller, let alone the time and energy it requires to locate a buyer for a property, implement a marketing method, and close the sale. Such an agent limits his efforts to sending out tenth-generation copies of scanty information about properties furnished him by other agents.  It's a lottery mentality—hoping upon hope that some agent with whom he is dealing will somehow get lucky and close a sale—and then, the ultimate hope, a small piece of the commission will miraculously filter its way down to him. I'm not saying that a real estate agent should never work with another broker or salesman under any circumstances.  That would be ideal, but not practical.  Circumstances regarding two of the sales I discuss later in this book were such that it made sense for me to pay a co-brokerage fee to another agent.  Even in those instances, however, I took matters into my own hands and did everything possible to control the destiny of the sale.

Over the next few years, the number of African Americans seeking jobs and homes in and near Palo Alto grew, but no developer who depended on federal government loan insurance would sell to them, and no California state-licensed real estate agent would show them houses. But then, in 1954, one resident of a whites-only area in East Palo Alto, across a highway from the Stanford campus, sold his house to a black family. Almost immediately Floyd Lowe, president of the California Real Estate Association, set up an office in East Palo Alto to panic white families into listing their homes for sale, a practice known as blockbusting. He and other agents warned that a 'Negro invasion' was imminent and that it would result in collapsing property values. Soon, growing numbers of white owners succumbed to the scaremongering and sold at discounted prices to the agents and their speculators. The agents, including Lowe himself, then designed display ads with banner headlines-"Colored Buyers!"-which they ran in San Francisco newspapers. African Americans desperate for housing, purchased the homes at inflated prices. Within a three-month period, one agent alone sold sixty previously white-owned properties to African Americans. The California real estate commissioner refused to take any action, asserting that while regulations prohibited licensed agents from engaging in 'unethical practices,' the exploitation of racial fear was not within the real estate commission's jurisdiction. Although the local real estate board would ordinarily 'blackball' any agent who sold to a nonwhite buyer in the city's white neighborhoods (thereby denying the agent access to the multiple listing service upon which his or her business depended), once wholesale blockbusting began, the board was unconcerned, even supportive.

Provide documents that show your investment experience and your financial readiness. When I submit my letter of intent (LOI) with my initial offer on a property, I also send a pre-approval letter from my lender, a brief bio, a schedule of my real estate holdings (Buyer’s Resume), references from brokers I have closed deals with, a current savings account statement and the first two pages of my most recent tax returns (with all confidential information blacked out, of course). If you are not in a position to submit all of this information, just provide what you can. The idea is to speak to your strengths as a buyer. Try to at least submit a pre-approval letter from your lender, as this will go a long way towards setting yourself apart from the average buyer.

When condominiums don’t meet government-backed lenders’ standards they become non-warrantable. This means that buyers cannot get standard loans for these properties. They will have to pay cash or pay exorbitant rates through private lenders. When a building is full of non-warrantable condos, the pool of buyers shrinks and lowers the condo’s value. One might think that newer projects would have lower maintenance costs than older projects. But this isn’t always true. Some builders set monthly fees low while they advertise the project. This attracts bargain buyers, but owners soon discover they have inadequate reserves. The monthly fees then skyrocket. Even if the homeowners successfully sue the builder, it is hard to sell any properties while litigation is pending, and values drop. Most states have specific forms for condominium transactions in which the association discloses finances and reserves. Buyers must sign and verify they have examined the financial condition of the project. Pay attention to past history. How old is the roof? When were improvements last made? How often do association dues increase? Even though many people don’t investigate these issues, a home’s value depends on them. CHAPTER 7 BANK FINANCING Banks have a new image. Now you have ‘a friend,’ your friendly banker. If the banks are so friendly, how come they chain down the pens? — Alan King Bank lending standards and terms change daily. This chapter provides general principles that should prove useful over the long term. We will examine how to borrow from banks to acquire or refinance a home. Please note the term “banks” as used here includes credit unions and other major financial institutions. There’s another chapter on non-bank lending to help those who don’t meet the criteria set by major lending institutions.

The federal government helped start the largest buyers of home loans. These buyers include the Federal National Mortgage Association (FNMA, or Fannie Mae) and Federal Home Loan Mortgage Corporation (FHLMC, or Freddie Mac). The standards they set dominate the

Blockbusters’ tactics included hiring African American women to push carriages with their babies through white neighborhoods, hiring African American men to drive cars with radios blasting through white neighborhoods, paying African American men to accompany agents knocking on doors to see if homes were for sale, or making random telephone calls to residents of white neighborhoods and asking to speak to someone with a stereotypically African American name like “Johnnie Mae.” Speculators also took out real estate advertisements in African American newspapers, even if the featured properties were not for sale. The ads’ purpose was to attract potential African American buyers to walk around white areas that were targeted for blockbusting

Investment In Real Estate Is A Worthwhile Endeavor Several factors has to be studied by any individual who is planning an investment in real estate. For example, if business properties are desired, the client should are aware of they may be targeting certain conditions that aren't typically seen with residential properties. Nonetheless, for the appropriate particular person, and for those who plan fastidiously and receive good recommendation, this feature investment will be highly profitable. Individuals looking for commercial properties can certainly find that there are numerous kinds of institutions by which to come up with selection. For instance, an individual should purchase a restaurant or lodge, or invest in a retail store. The consumer may also select to buy an investment property comparable to your rent amount advanced and make an income from leaseing every unit. Office constructings can also be a smart selection, as tenants will likely be seen reasonably ardmore three wheelock quickly. It's fundamental, nevertheless, to buy such properties in nearly anything that receives beneficiant traffic. Most commercial institutions fail if they can't appeal to a steady transfer of customers. Buying residential property is something customers may additionally wish to think about that these planning to decide on their investment portfolios. For instance, an individual may decide to obtain a dwelling that have been renovated. Sometimes called "handyman specials, " such properties will be repaired which can offered during profit. Fortuitously, usually they are cheaper than properties that are in good repair. It is also a possibility to build an ad or residential property can be an investment. Builders who've satisfactory money to finance exceptionally challenge made having a tract of land and fill homes for it on the market to the general public. However, as soon as again, it is essential to pick a location carefully, as it may possibly nominal good to supply homes for sale in a part of the country in which nobody wants to live. Purchasing the primary property one finds is rarely a clever program of action. Instead, it is always the most effective interest match investor to comparability store attempting to discover at a couple of home or business earlier than making a final decision. It will make sure that the excellent ill use made. It can be more suitable obtain authorized advice every time one is planning to purchase various types property. This is even if that the buyer must have assurance that the property just isn't encumbered, and he or she can even want knowledgeable to make all the paperwork regarding the transaction is legal. Finally, individuals planning an investment in real estate will find that it plan of action is sensible, supplied they plan with care and hire a reliable broker to supervise their transactions.