Archive for Real Estate
How to get Expired Listings in Plano Texas
Posted by: | CommentsRealtors in Plano Texas looking for business can find it by working Expired listings.
Each home listed is an opportunity to do more deals. Use your listings to create more listings and collect a qualified group of buyer prospects. The homes that don’t sell when first listed can be the best homes to have as listings. What was an unrealistic homeowner has become a motivated Seller. More listings mean more deals! Expired Listings have a Motivated Seller, ready willing and able to see their home sold resulting in a quicker sale. If you show up offering a complete marketing package you will win more listings and get higher commissions. There are usually two reasons for a home that didn’t sell; Price and Marketing. If you let the Sellers know that you have the most cutting edge comprehensive marketing program available, they will embrace your direction and advice for getting their home sold. Once you win the listing, make sure that you use it to get lots of buyer prospects and grow your listing inventory in the neighborhood. Every listing should be seized as a way to grow your listing inventory and buyer pool. What is the Market in Plano texas for expired listings?
Identify them and win their Listing
One of the most effective means of working expired listings is to search the MLS and find listings that are expiring over the next 7 days in a target geographic location. Make it a habit to stop by all listings that are expiring every morning or every afternoon (early morning is best as it is easiest to make it a routine). Worst case work
“Expired’s” the same time every week, like Tuesdays and Thursdays or every Friday. It is important when you stop by to appeal to the Seller’s. Even though many Expired listings are overpriced per the location and condition, pay no mind. Almost every Expired Listing Seller thinks their home only didn’t sell because of marketing. So, it only makes sense that at first encounter, you should only talk about marketing. Marketing, marketing and more marketing. They will feel you are a breath of fresh air compared to their previous experience. To show them how you are different, you should create a unique marketing piece that you can leave at their home. Here are some ideas for Plano Texas Expired listings.
a. Make a Property Site for their house and drop off business card stickers with their property domain as it has their home on it they will be impressed. 123PlanoTexas.WillSellQuick.com. Seeing their actual home as a property Website shows that you care and first impression is everything.
b. Make or use the pre-made flyers to showcase your marketing program and build your case for why you are better.
c. Visit the homes with a flyer, postcard or anything that links to your Flip Show book link (buy a domain www.SellYourHomeNow.com) or link to your existing website and embed the Flip Show book on the Home page showing why you market more than their old Realtor in Plano Texas did.
Ask them to go to the URL’s on the flyer, postcard or business card (business card stickers with their domain) and see why you are different. Marketing is everything and you have a system that will ensure they expose their home more. Use your comprehensive marketing program to WOW them that you are so very different from the other Real Estate professionals they have encountered. Make sure you convey that you understand where they are coming from and that is why you are here to save the day and you will create instant report. After all, all the Expired Listing Seller’s want is to sell their home and luckily, you have arrived to save the day.
You may drop off marketing materials if the Seller’s aren’t home. You should follow up with a call or if it is a great listing, keep dropping by until you meet or have a dialogue with them. After you have built rapport, schedule a Listing Appointment and get the listing.
Now you have the listing use it and sell, sell, sell…
Once you have the listing, make sure you make the case for pricing. Whenever possible, take all Seller’s especially Expired Listing Sellers out to see their competition. Price based on supply and demand and the Seller’s will be at a more realistic pricing to attract the best buyer. Once they see what their competition is in person, denial subsides and most Seller’s will actually price their home very reasonably. Now that you have a well priced listing, market it fully (use the eMarketingGuide to help with ideas). Scour the neighborhood (perhaps door-knocking with a flyer, business card stickers, Just Listed Postcard, water bottle labels, anything to show the neighbors that you have an online 24-7 Open House. When talking to neighbors, give them a marketing piece with the URL on it and tell them that you have a wonderful place they can go and see everything on the house 123Sample.IsNowForSale.com…etc. Ask them to tell their friends and family because it is in their interest to “pick their neighbor” by helping you promote the domain. Get the Seller working for you too by having them give out your business cards with stickers on the back to promote the URL (their home) on the back. Have your Sellers hand out at least 50-100 cards at work, church, kids sporting events…etc. If you want you can create other mediums like Water Bottle Labels with the URL and pictures on them, postcards, flyers…etc.
Tip:
Use any listing you have or acquire to court other Expired Listings and FSBO’s in the area. Listings are easier to get in a neighborhood you are already selling in. Hold launch events, multiple Open Houses, door knock, direct mail…become a force in the neighborhood. The highest producers are those that specialize in neighborhoods, tracks, complexes or areas as they can promote themselves as an expert, everyone wants to work with the “expert”.
For more information and marketing tips on getting these expired listings go to www.jerryholcomb.com
Realtors Let me help build your business in 2010
Posted by: | CommentsDo you want a better way to get and sell your listings and generate more leads?
Watch the video in this link and then contact me.
The best part is there is no cost to you!
If interested contact me
If You Do not Buy a House in Dallas Texas Now, You are Stupid or Broke
Posted by: | Comments|
Have you read this article yet? It was featured in Business Week. My first thought, wow! what a blunt and harsh statement! But the writer, Mark Roth, uses this headturning title to get your attention to make excellent points for those who are on the fence. Namely that interest rates are at an all time low, in fact, the lowest in 40 years. He noted that in the late 70s, rates hit a high of 18%! Can you even imagine buying a house at 18%? I personally can’t fathom it as I bought my first house with an FHA loan while I was in college for 7% in 2001. In the 80s, when rates dropped from 12% to 9%, my parents practically danced their way to the 1st refinance of their home. Generation X’ers probably would never dream of purchasing a home above 7% given all we have ever known are super low rates hovering between 5-6%. Mr. Roth points out the history of previous interest rates as well as the impact of rates on one’s purchasing power. I happen to agree with his prediction that as the economy becomes more stable, interest rates WILL rise to hedge inflation. My prediction has been that by this time next year, rates will have risen 1-2% at a minimum. In Dallas Texas, the average sale is $250,000. Assuming a 5% down payment at 5% interest on a 30 year fixed, your monthly principal and interest payment would be $1275. If rates rise to 7%, your payment increases to $1580/month. Some buyers may be on the fence because they fear prices may drop further. Consider this. If there is a 10% decrease in price and the $250,000 falls to $225,000 in one year, but you wait to purchase and the interest rate rises to 7%, your payment will be $1422. You spend more money per month plus at the higher interest rate, you pay more interest over the life of the loan. Real estate appreciation is always a cycle and as the economy stabilizes, values will level out. Steve Harney is already analyzing data this is happening in many markets and that this will occur by 2014 in many states. Making a home purchase is still a decision that should be weight carefully and is not for everyone. One important consideration will depend on how long you plan to stay in the home. Mark Roth summed up the article, “What I’m trying to impress upon everyone is that |
if you are planning on being a homeowner now and/or in the foreseeable future, or if you are looking to move your family into a bigger home, then pay more attention to the interest rates than the price of the home. If you have a steady job, good credit, and the down payment, then you really are being offered the gift of a lifetime.”Dallas Home buyer tax credit
Posted by: | Comments$8,000 First-time Home Buyer Tax Credit at a Glance
- The $8,000 tax credit is for first-time home buyers only. For the tax credit program, the IRS defines a first-time home buyer as someone who has not owned a principal residence during the three-year period prior to the purchase.
- The tax credit does not have to be repaid.
- The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
- The tax credit applies only to homes priced at $800,000 or less.
- The tax credit now applies to sales occurring on or after January 1, 2009 and or before April 30, 2010. However, in cases where a binding sales contract is signed by April 30, 2010, a home purchase completed by June 30, 2010 will qualify.
- For homes purchased on or after January 1, 2009 and on or before November 6, 2009, the income limits are $75,000 for single taxpayers and $150,000 for married couples filing jointly.
- For homes purchased after November 6, 2009 and on or before April 30, 2010, single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit.
The $6,500 Move-Up / Repeat Home Buyer Tax Credit at a Glance
- To be eligible to claim the tax credit, buyers must have owned and lived in their previous home for five consecutive years out of the last eight years.
- The tax credit does not have to be repaid.
- The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $6,500.
- The tax credit applies only to homes priced at $800,000 or less.
- The credit is available for homes purchased after November 6, 2009 and on or before April 30, 2010. However, in cases where a binding sales contract is signed by May 1, 2010, the home purchase qualifies provided it is completed prior to July 1, 2010.
- Single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit.
100 Billion pieces of SPAM email sent a day.
Posted by: | CommentsOh hey… Before I begin this blog post, I wanted to treat you to some crazy facts about email:
- There are more than 100 billion pieces of SPAM email sent around the world every single day!
- The number of spam email messages sent around the globe each month numbers in the trillions!
- More than 80% of all that SPAM is sent by fewer than 200 individuals
- Despite the crushing number of SPAM messages sent each month, email continues to deliver a higher Return On Investment than any other form of marketing
Ok, Now that I got those interesting numbers out of my system, let’s get back to the regularly scheduled blog post! Did you know that email is still considered the #1 highest return on investment form of marketing in the world? Here are some facts you need to consider that can help you with your own email mortgage marketing efforts:
- The best days to send email are Tuesday, Wednesday and Thursday
- The best time of day to send email is after 9:30 but before 2:00
- Never use red colored font in a professional email (Sets off SPAM flags)
- Keep your subject lines shorter than 35 characters whenever possible
- “Long term prospects” (Those who are not in the market for at least 6 months) should get 1 email per month, whereas shorter term prospects should get emailed 2 – 3 times per month
- Send usable information free of blatant advertising
- Add your Twitter and FaceBook profile links to your email signature (If you have professional profiles setup)
Those are some pretty impressive numbers: a $43.08 return on investment for every dollar spent! Where else can you get those types of conversions? Direct mail? Magazine ads? Radio? Hiring telemarketers? Nope…
Use the tips I provided above, and and you will see an improvement in your own email marketing efforts. But there’s one more tip I have for you that absolutely must be observed:
- Use a permission based email list only! Do not SPAM! -
It’s far easier than you imagine to build a permission based email list. It doesn’t need to be a long and drawn out process. If you make use of a marketing-grade auto-responder system, all of your follow-up efforts will be automated and save you a truck-load of time, while delivering fresh, warm leads to you on a regular basis as the prospects begin to convert and respond to your efforts. I generally grow my own email list by 250 – 300 fresh emails per month. Would you like to do the same?
Let me show you how.
Is paying off your mortgage early a good idea?
Posted by: | CommentsThis message came to me today from;
Da
Home Buyer
Allen, TX
I am in the process of paying off my mortgage and had a quick question on the below math.
I have around $75000 left on my 15 year mortgage with 3.75% APY after Tax Deduction. And, five years ago I had invested in a Certificate Deposit of $75000 for 5% APY. The CD is getting matured next month and looking at CD rates, the best out there is around 2.00% for 1 Year.
So, if I keep paying mortgage (3.57% after Tax) and invest the $75000 in a CD for 2 % (1.6% after Tax), then I am losing around 2.15% interest. Am I doing the math correctly? Is this as simple as it sounds.
So, to me it makes sense to repay the mortgage. Also, in this market, I don’t have any interest in investing in stocks, mutual funds, bonds, etc. ”
Here is my response;
Good Morning Da:
Congratulations of having the ability of choices. The choice of paying off your mortgage sounds appealing on the surface. However, with out a few more questions being able to help make the best choice advice is difficult.
1, Is the payment on your current mortgage causing you any financial stress?
2, What is your age and when do you plan on retiring?
3, are you financially set up to retire when that time comes?
4, What tax bracket are you in today?
5, What would you do with the money you are using to make the mortgage payments with today after you pay off the mortgage?
6, Have you looked into other investments that do not have market risks that stocks, bonds or mutual funds have?
We really need to better understand your situation to offer advice.
Case in point.
I have a mortgage client that inherited more than enough money to become debt free mortgage included. He could have paid off his mortgage early.
We refinanced home out of the second lien and into a lower payment, paid off the non-tax deductible debts he had and the rest we put into a small term life insurance policy just enough to pay off the mortgage and the rest into an annuity that will never lose principle plus share in the market up-turns. He was in CD’s and as you he did not see the returns being above inflation.
Today he can rest assured that if he dies his wife and child are taken care of with a paid off mortgage and his money is making a return higher than CD’s with no market risks.
If you would like to discuss these or other options send me an e-mail I am a licensed Insurance agent as well and a Mortgage Banker.
Underwriting changes for a Mortgage loan
Posted by: | CommentsWith all the changes in the mortgage industry new guideline changes are coming almost weekly. These changes effect all mortgage loans from conventional, Jumbo and even FHA Loans.
Recently all lenders are requiring the IRS form 4506T be issued from the IRS. this form is the tax transcripts of the borrowers last two years tax returns. The lenders are using this to verify income, deductions for interest paid on houses and other things they do not tell us.
Recently I have seen loans come in from other loan officers with signed tax returns that have not been filed by the borrowers. Also, if past the deadline for filing your taxes and you do not owe taxes some people do not file their taxes. However, to an underwriter today and with all the lenders scared of making a mistake they are requiring the last two years be files to the IRS.
This has caused problems for people buying FHA home mortgages that have not filed. Either the underwriter denies the file or they have to send in their taxes and wait for the IRS to accept the return and allow access to the transcripts via this 4506T form. Have you ever know the IRS to be fast, except if you owe them money. This process can take 2-6 weeks and many home buyers have 30 day contracts.
If you are looking to buy a home with FHA or conventional financing and have not filed your tax return here is what to do.
1, Tax your tax returns to the local IRS office and have them give you a stamped receipt of your returns.
2, Ask how long before the returns are registered and a 4506t can be pulled. (they may not know.)
3, to find out use this to verify and get a copy for your records.
Call the IRS office at 800-829-1040. You press 2, then press 2 again. It will ask you for the social security number. Enter the social security number and then press 1 to confirm. A menu of 7 options will come up, do not press anything. Once it goes through the menu it will get the representative. Once the representative answers, you request the tax transcripts for the required years (need the following years 2007 & 2008 as of this post) and then ask the representative to fax them to you or my office. You will be asked private information to confirm it is really you. Ask them be faxed to you at your fax number or if we are working together they can send to me directly.
I hope this helps you and speeds up the process of buying a home with a FHA loan or conventional loan.
If your have any questions or need help send me a note at jerry@DallasFHAloans.com
The Dems and how the mortgage crisis started.
Posted by: | CommentsWe need to get these people out of Government like Barney Frank. They have caused the mortgage melt down. This is causing all the new crazy regulations on Home loans.
Watch these videos;
The last administration tried to stop Fannie Mae and Freddie Mac from lowering the standards but the Democrats Frank, Dodd, Cuomo, Boxer, Clinton, Pelosi and the rest stopped them from tightening guidelines and made this all happen.
Single family home sales are up
Posted by: | CommentsSingle family home sale are up – but why? Federal Reserve loses lawsuit and must show the country where all the money has gone. Swiss cooperates with IRS – No more tax free Swiss bank accounts and it’s time to pay! How Does this effect purchasing a FHA Home in Dallas? to learn more about the Dallas FHA Loan and housing market send me a note and I’ll send you my insiders guide to the Dallas home market white paper. (e-mail link at bottom of page)
Watch the video for more detail
http://www.thinkbigworksmall.com/mypage/player/tbws/15029/975408
So if you want more information on buying a home in Dallas give me a call or e-mail Jerry@DallasFHAloans.com
http://www.thinkbigworksmall.com/mypage/player/tbws/14856/975408
Great information on what FHA said about HVCC appraisals. So if you are looking for a FHA loan in Dallas you may want to watch this.