Achieving Dominant Online Presence

To be successful in online marketing you must generate traffic to your website. Once the consumer visits your site, the content (website) must provide value in order to generate an interaction or a registration. The best website tool for this process is a WordPress content management system. In addition to being a website, it also provides a blog publishing system that has great features and is very easy to use. You can post unlimited articles, links and pictures that are published in real time. The WordPress platform is very “search engine friendly” and content can easily achieve front page placement with proper formatting. By having high placement in the search engine rankings with multiple articles you can receive substantial amounts of traffic on a daily basis for free.

The Lender-Agent Marketing Partnership

Once you have your lender Internet marketing system in place, with articles on the front page of Google and generating leads, you can offer agents the ability to share your marketing platform by posting their listings and articles on your WordPress site. This marketing partnership will assist you in developing a marketing relationship and encourage weekly meetings to discuss marketing strategies. As the provider of the system to the agent, you control the process which includes the tools, training and support.  Agents will respect the value you bring to them as it generates business, reduces their marketing costs and learning curve in the use of technology. 

If you are buying a Wakefield  home and want the best “deal” in the purchase of real estate a “short sale” may be your best option. Buying a Wakefield MA short sale is a difficult and often a frustrating process.  To have success, hire experienced professionals that understand all aspects of the transaction.  Expert advice can be provided by real estate agents, attorneys, mortgage brokers, bankers and home inspectors.

What is a Short Sale?

Homeowners that have financial hardships may qualify for a short sale as a solution to foreclosure.  Their goal is to negotiate future financial liabilities and preserve their credit.  Massachusetts law often presents the lender with incentives to negotiate with the homeowner.  The foreclosure process takes time and money and may prove to be more costly to the lender.  Under the Home Affordable Alternatives Program (HAFA) offered in 2010 by the Treasury Department, lenders and homeowners have additional incentives to consider a short sale.

The first step to a successful Wakefield MA short sale transaction requires the negotiation of an acceptable contract with the Seller subject to lender approval with no guarantees that your offer will be approved.  If the contract is not approved by the lender then the Seller may not have sufficient time to sell to another party and avoid foreclosure.  The following tips will increase your chances of negotiating  a  successful Wakefield  short sale transaction:

Are You a Qualified Buyer?

Providing creditable evidence that you can purchase the property is absolutely necessary.  The Seller is not likely to accept your offer without a valid credit approval as the lender will reject the contract. Obtain a credit approval from a reputable lender or if a cash buyer provide proof of funds.  The contract must have only the standard and typical conditions of sale to obtain lender approval.  Lenders evaluating contracts must have full documentation so that they may make informed decisions.

Finding Wakefield Listings That Qualify

Homeowners in financial distress typically have a limited amount of time to find a qualified buyer.  If they have not communicated with their lender(s) and started the process, it may not be possible to close before foreclosure.  Your real estate agent can identify properties that you may consider. Information they will obtain includes:

• Is the Seller’s short sale package prepared for submission to the lender?
• How many liens are on the property? If more than one, what are they? Is there a plan to satisfy all the lien-holders?

Don’t take yourself out of the market for a property that has no chance of closing.  Fully evaluate all Wakefield MA property listings, including foreclosures, before negotiating a short sale.

Offer and Acceptance by the Seller

The first step is to  have your offer accepted by the Seller and you will be competing against other buyers.  Some real estate agents market the property substantially below market value to entice buyers.  Others price the property at the low end of fair market value.  Price, terms and your qualifications will be the deciding factors for Seller acceptance.  Sellers and lenders prefer offers with fewer contingencies to streamline the lender approval process.

Earnest Money – Sellers will not be likely to accept your offer with a low deposit.  A buyer that has little to lose can easily pursue another property and “walk away”.  If you are serious about buying the property offer the Seller a strong deposit.

Home Inspection – It is customary to conduct the home inspection prior to submitting to the lender. A seller may not want to take the risk of allowing the inspection after lender approval. The buyer can easily “walk” from the home inspection and lenders normally will not approve them.  As a buyer, this will require you to invest time and money in order to evaluate the condition of the property.  This is also the typical situation in a “traditional” purchase.

Flexible Closing Date – Lenders often approve short sales with quick closings. You must be prepared to meet their conditions if you want to consummate the sale.

Subsequent Offers – The listing agent must submit all offers to the Seller.  A contract with better terms and conditions may have a better chance of being approved by the lender.  The lender will give the homeowner direction as to submitting additional offers.  Also, be prepared to lock your interest rate thru closing so that your mortgage commitment will be valid.

Lender Approval

Lenders will do their “due diligence” to substantiate the value of the property and have no set formula to determine an acceptable price. However, Freddie Mac (one of the largest secondary market lenders) has a value range of 88% of one or more broker price opinions (BOP).  Have realistic expectations of the time-frame for approval  as it may take between 30-180 days and market conditions can change.  If the Seller has agreed to participate in the HAFA program option with a participating lender, then you will receive a more timely response through a streamlined process.  One step in this process is for the lender to approve the listing price before the marketing process.

Virtual Homes real estate agents can assist you with Wakefield MA short sales, foreclosures and MLS listings currently on the market.

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How to guide for buying Waltham MA short sales and pre-foreclosure values.

Protect Your Home Purchase with a Home Inspection

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By fdoleac

 

What is a Home Inspection?

When you are in the process of  purchasing a home, take advantage of contracting for a home inspection to protect your potential investment.  It is important to understand what the inspection process is and your options in mitigating any issues that arise.

 

A home inspection is often confused with an appraisal as both processes are related to the "inspection" of the property in a home . A home inspector determines the condition of a structure, whereas an appraiser determines the value of a property. The process is a visual inspection of a home (or condo) made by a qualified (certified) home inspector who is trained and has experience in evaluating all of the component features in a home, and who is able to give a clear and accurate picture of the condition of these components. A home inspection just isn't a code inspection, which verifies local building code compliance. A home inspector thinks "Safety" not "Code" when performing a home inspection.

 

The inspection is created to identify issues that may exist, advise of repairs needed and, in some cases, provide preventive maintenance advice. It consists of inspection of the physical structure and mechanical condition of a home, from roof to foundation. Throughout the inspection, the inspector may identify problems that need further inspection by other qualified contractors. In some cases, the heating or structural elements of a property may require an "expert" to full evaluate the scenario.

 

 

 

What if Defects are Found

If the inspector finds problems in a building, it does not necessarily mean you shouldn't purchase it, only that you will know in advance what kind of repairs to anticipate. A seller may be willing to make repairs of material defects discovered by the inspector. Properties are not ideal, which includes new construction, and usually have "maintenance" problems which are considered to be normal for the age of the property.

 

Is the Inspector Qualified?

 

In many states, home inspectors must be licensed to perform an inspection for a buyer purchasing real estate. If a license is not required, look for an Inspector that is qualified, has years of experience, and has membership with the major associations in the inspection business, and has taken continuing educational courses that make his services a lot more valuable. Ask of the inspector if they are a member of a professional home inspection organization or certified by The American Society of Home Inspectors http://www.ashi.org. Does the inspector carry Professional Liability Insurance (Errors and Omissions Insurance)? Be sure you ask for a copy of their liability insurance policy. In case you ever need to collect on a legal judgment, the inspector's insurance policy will be able to pay on your claim.

 

As crucial as the physical home inspection is, it is half of the process. The other half is the inspection report and it is each and every bit as critical. The report will indicate the material defects and repairs that concerns the inspector. Once you have received all of the inspection reports, you may think about negotiating repairs or monetary compensation from the Seller. It really is appropriate to share the inspection report with the Seller if you are asking for mitigation of the issues. Seller's may seek their own opinion of the identified defects so that they can fully evaluate their alternatives.

 

Once the home inspection process has been completed it is possible to complete your home purchase with confidence about the condition of the property and all its equipment and systems. From the inspection, you will have learned many issues about your new home, and will want to keep that information for future reference. If you're a first time home buyer, the home inspection will provide a valuable education about the maintenance of a property.

 

Real Estate in a Virtual World

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GmaGoldie 21 hours ago

 

Holmes on Homes stated it correctly - the only protection you have as a home owner is a good home inspector. This is true around the world - he is in Canada but the same holds true here in the US. Inspectors have saved me time and time again when I have purchased a home.

 

A home inspection is always an education. I have always tried to journey with the inspector to both the basement and the attic - I want to learn.

 

 

fdoleac 1 minute ago

 

GMA Goldie - Using qualified professionals is certainly worth the investment. You can't buy a better education.

 

 

 

Building Consumer Relationships Together

The Lender-Agent Collaborative is an integrated marketing system that provides lenders with a process to develop relationships with real estate agents and customers. The system assists in cultivating a network of agents that promote you and refer new purchase business. In addition, potential home buyers will register and contact you for guidance in the mortgage loan process. 

 

Bottom Line . . . Real estate agents need transactions . . . and so do you!

 

 

View a video preview of the Lender-Agent Collaborative.

 

Partnering with Real Estate Agents

Obtain Buyer Referrals According to mortgage industry data, over 80% of home loans written are new purchase mortgages. Real estate agents typically refer their buyer clients to two or three loan officers in the home buying process. Imagine a network of buyer’s agents referring buyer clients to you every month regardless of market conditions. How can you attract agents to refer the business to you? Provide the agent with the resources that attract home buyers at no cost to them!

Integrated Market System Utilizing Cutting Edge Technology Tools

The Lender-Agent Collaborative marketing system utilizes cutting edge technology tools designed to attract home buyers and make it easy for them to search and buy property. The core is a website with blog functionality that can compete online with Zillow, Trulia, and Homes.com for local market dominance. The system features include:

• SEO enhanced WordPress website – easy to edit Blogging platform – post articles that attract consumer interaction Lead generation through property listings – includes FSBO listings
• Lead Generation System - Google based property search
• Social Media marketing strategy – Facebook, Twitter, YouTube
• Business development training – dominate your local market
• Exclusive market areas
• Weekly webinar for coaching and marketing support

The system encourages weekly marketing meetings between lenders and agents to develop local market presence, generate and convert home buyer leads.

Our company provides weekly marketing webinars to assist you in business development. We provide the training to develop your blog sites to obtain high search engine positioning, generate customer interaction and connect with motivated home buyers and sellers.

View a video preview of the Lender-Agent Collaborative.

The Lender-Agent Collaborative is a marketing system offered by Praxius Technology, a division of Virtual Homes.

A technology provider since 2000 and an early Internet marketing adopter, Praxius Technology is a … [Read More...]

 

Praxius Technology, an early adopter of online marketing, provides lead generation, lead management training and support to the real estate and lending industries. Unique services with full technology integration.

Brookline Massachusetts Real Estate Market Reports 2010 Quarter 2

Brookline Single Family Home Sales

The Brookline, MA Q2 real estate market report indicates that there were 52 homes sold in Q2 2010 as compared to 27 in 2009. This represents a 93% increase in the number of homes sold. The average sales price changed from $1,476,583 in 2009 to $1,261,898 in 2010, a 15% decrease in value. The days on market changed -44 % from 128  to 72.

Visit Brookline MA real estate for information about the community, relocation, demographics, MLS search, home buying and selling guides.

 

Go to Brookline MA homes for sale to view current listings of homes, condos, multi-family and land listings.

Brookline Condominium Sales

The Brookline, MA condominium market data indicates that there were 200 condos sold in the second quarter of 2010 as compared to 156 in 2009. This represents a 28% increase in the number of condos sold. The average sales price changed from $502562 in 2009 to $535351 in 2010 a 7% increase in value. The days on market changed 11 % from 64  to 71.

Visit the Brookline MA real estate 2009 market report for a comparison in market fluctuations. 

The Brookline MA Q2 real estate report was compiled by Virtual Homes Real Estate. The data was extracted from the MA MLS (MLSPin) and is not guaranteed to be accurate.

 

Recent Legislation Benefits Self-Employed

The Small Business Jobs Actwas signed by President Obama on September 27, 2010. The legislation provided for tax breaks which included a new health insurance deduction for the 2010 tax year specifically for the self-employed.  In addition, loan provisions for the SBA (Small Business Administration) were extended until December 31, 2010.  Both of these benefits offer real estate agents the opportunity to realize substantial savings and provide financial assistance to an industry hit hard by the recession.

Self Employed Health Insurance Deduction - Up to $3500 in Savings

Self-employed individuals pay 15.3% of their net earnings which is known as the self-employment tax. The self-employment tax rate is the sum of 12.4% for Social Security (old age, survivors, and disability insurance) and 2.9% for Medicare (hospital insurance). The Social Security tax applies to the first $106,800 of net earnings in 2010; there is no ceiling on the Medicare tax.

If an average family (self-employed income) paid $14,000 for health insurance coverage then the 15.3% self-employment tax on earnings used to pay that premium would be $2142. Families with higher earnings and monthly insurance premiums could save as much as $3500. The new legislation (Section 2042) allows the self-employed to deduct this premium on their self-employment tax as well as their income tax. The rationale is that this tax savings can be re-invested in their businesses. For more information regarding this tax benefit go to Health Insurance Tax Break.

Real Estate Brokers and Agents Qualify for SBA Loan Assistance

The Small Business Jobs Act extended loan provisions for reduced closing costs and a 90% loan guarantee.  This provides incentives for both the lender and borrower to take advantage of the programs before year's end.

Real estate agents and Brokers qualify as small businesses and can benefit by refinancing credit card debt and/or obtaining loans through the 7 (a) loan program.  The interest rates for these programs are substantially lower than credit card interest and is tax deductible.  Go to Loan Assistance for more information.

About the Author

Founder and CEO of Virtual Homes Real Estate, a New England based independent residential brokerage firm. The Virtual Homes Real Estate portal provides consumers with an interactive real estate resource offering information and tools making the home buying and selling process easy. Search MLS listings by location with our map based tools. Experience the Future of Real Estate Today!

Burlington Vermont Real Estate Report - Homes Sold as of 10/30/2010

The Burlington Vermont real estate year to date activity reports an increase in average sales price with a decrease in the number of homes sold. Visit Burlington Vermont real estate for a complete report including condominium activity in 2010.  The Burlington VT real estate and homes for sale site provides community information that includes MLS search, relocation, school and home buying information.

Burlington VT Single Family Homes

There were 125 homes sold in 2010 as compared to 138 with only 103 sold in 2008.  The average sales price in 2010 has increased 3% from $269,527 in 2009 to $284,813 in 2010.  In 2008, the average sales price was at $324,075 which was the peak for the last four years as values were at $310,911 in 2007.

The average selling time increased from 56 days in 2009 to 77 in 2010.

The Burlington Vermont real estate homes sold report was compiled with data obtained from the NNEREN MLS system and is not guaranteed to be accurate.  Contact Virtual Homes Real estate if you require further information on properties listed in Vermont or New Hampshire.

Burlington Vermont real estate market update as of October 2010 with a 3 year trend analysis of homes and condos sold with average selling prices.

Real Estate CRM for the Virtual Office

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By fdoleac

Real Estate Customer Resource Management

Operating a successful real estate virtual office, whereby most of the agents work from their home offices, requires an integration of on-line tools training and support. A critical web based tool is the company CRM (Customer Resource Management) which is the automated hub of agent, staff and management tasks and activities. The tool should include a powerful contact manager, an interactive database and lead management system.

Source: Zoho CRM

Contact Management

Agents, staff and management require a contact management feature that maintains all import information and data of company representatives as well as customers and clients.  Remote access to this information ensures proficiency in all aspects of communication, transaction flow and automated functions.

In addition to the basic information of name, address, telephone numbers and email the system should provide for multiple customizable fields.  Entry options would include important dates, notes, web site and blog addresses. 

The contact management system should provide for extensive prompting fields for manual and auto data entry when interacting with customers and clients.  A major asset of the company is the permission database generated through inbound marketing.  The value is the variety and volume of pertinent information obtained in the communication with consumers.

Inbound Marketing

The company inbound marketing process should include web sites, blogs and direct response marketing.  Integrated marketing communications are designed to generate web form registrations that must auto populate the data base, organize and store the information.  The contact manager is only one important element of the database.  Once the information is obtained, it is important for automated functions to be built into the system to provide prompt and timely responses and follow-up.  This process should include auto responders, lead notification and distribution.

Lead Notification and Distribution

The typical web form registration may require only an email address.  However, it is beneficial to obtain a name and phone number.  You must analyze your registration metrics in order to determine the optimal required fields for your value proposition.  In all cases, the system must automate the process of distributing the leads.   Agents and staff (including call centers) must be notified of a new lead via email, text while populating the data base.  Response factors are critical in converting Internet based leads and most motivated consumers will work with the first responder.

Lead Management

The CRM system is more effective if lead management tools are integrated into the system. Features should include call prompting, scheduled activities, auto responders, drip email, automated campaigns and reports. Users are more efficient when prompted to perform follow-up tasks and will convert more business.

Management and Staff

Features for management and staff include a recruiting module for the target lists and agent databases. Automating the messaging of the value can be built into the drip and blast email campaigns.  The CRM tool can be utilized with the intranet so that staff can manage agent contract renewals, birthdays, reports, notices and important dates

Virtual Homes Real Estate

• Virtual Homes Real Estate & Homes for Sale
  Real Estate resource providing consumers with an interactive portal of tools and information including MLS search, Map based search, and foreclosures to make the home buying and selling process easier.

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Medford MA Condo for Sale

If you are involved in buying a Medford MA condo, it is important to understand the legal ramifications of this form of ownership. Rules and regulations regarding the sharing of common areas, amenities and the land parcel have been stipulated in the condo docs.  A condominium has its advantages but in some cases a specific Medford condo development may have restrictions that do not fit your lifestyle.  To evaluate condos and single family homes for sale, visit Medford MA real estate.

What is a Condominium

The word condominium describes a form of land ownership and are governed by laws set out in Chapter 183A of the General Laws of Massachusetts and known as the Massachusetts Condominium Act.  This act covers the requirements for unit owners and condominium associations including matters related to interests in common areas and facilities, mandatory provisions for the association’s by-laws and expenses incurred by the association of unit owners.

Condominiums in Medford consist of 2 or more units, the interior of which are individually owned. Unit owners share joint ownership of common areas (grounds, hallways, etc.). The master deed is a document that places the land into condominium status and details the ownership structure. If you were to buy a Medford MA home, you would own the land and the building and could have joint ownership of additional land and improvements. This type of ownership is often referred to as PRD (Planned Unit Development) or PUD (Planned Unit Development).

Each unit owner will own a “percentage of interest in the common areas” as outlined and specified in the master deed.The boundaries of individual ownership and common ownership are also described in the master deed. The typical areas for common ownership other than the land parcel include elevators, hallways, staircases and amenities such as pools and tennis courts. Some areas that are held in common, such as a parking space, balcony or patio, can be designated for exclusive use by one or more unit owners. This typically will include balconies, patios, and assigned parking spaces.

Medford MA Condo Styles

• Garden (flat) — Living area confined to one level.
• Townhome — Finished living space on two or more levels.
• Detached — Free-standing building (no other unit is located in that same building).
• Duplex — Often referred to as a condex with two units that are attached. There may be several duplexes/condexes within a particular complex.
• Triple Decker – A triplex unit typically a conversion from a 3 unit apartment building.
• Loft – Large open areas with high ceilings that may have been converted commercial or industrial space.
• Low Rise Building – A building with primarily garden-style units and no more than 4 levels in the entire building.
• Mid Rise Condo – Usually a building between 5-10 stories with retail or commercial mixed uses.
• High Rise – May contain garden and townhome units and greater than 4 levels total in the building. High rises are commonly serviced by an elevator.

 Management and Associations

Trustee meetings are scheduled per the by-laws and are documented in meeting minutes. The unit owners meet on an annual basis, at a minimum, to ratify the budget, review expenditures, etc.

Monthly Condo Fees

The management and maintenance of the association is determined by the Trustees and ratified by the unit owners as specified in by-laws of the condominium. The monthly fees paid by each unit owner are calculated based on budget and the percentage of each owner’s interest in the common area.Special assessment may be necessary to cover expenses that are not in the budget or the reserve funds. Based on the amount of shortfall, this may be charged as a one-time fee or spread out over several months or years.

Rules and Regulations

The Rules and Regulations regarding the use of the condominium and facilities are usually determined and established by the Trustees and may be voted on and changed from time to time by the Unit Owners.

What a Medford Condo Buyer Should Know

Visit Medford MA homes for sale to view all condos for sale.

If you are thinking of buying a condominium unit, be sure to review:

1. Condominium Documents — Master Deed, Condominium Trust, etc.
2. Rules & Regulations – Pets may not be allowed. Can you rent the unit?
3. Financial Statements — Annual and Current Budget, Delinquency Rate
4. Capital Reserve Fund - Will FHA approve the fund?
5. FHA, VA Approval – Is a current approval in place?
6. Special Assessments – Pending and approved
7. Management Company – Is there one? Who is it?
8. Pending Legal Actions – Are there any?
9. Ownership Concentration – How many units are owner occupied?
10. Monthly Condo Fee – What does it cover?
11. Master Insurance Policy – Verify coverage
12. Annual Meeting Minutes and Trustee Minutes (When Available)

If you are going to buy a Medford MA condo you should have the documents reviewed by your attorney. Your Medford Buyer’s Agent should also be certain your offer provides for a cancellation should any part of the documents not be acceptable to you.

Importance of Working With a Medford REALTOR in Your Condo Purchase

Condominium structures and considerations vary by city, state and region. The above is just a general guideline on the most common type of condominiums. Your Medford REALTOR can provide additional details and educate you on everything that you need to know regarding your condo purchase, including information on co-ops and informal complexes such as converted multi-family buildings. Virtual Homes real estate has a network of experienced REALTORS ready to assist you in purchasing a Medford MA condo.

Medford MA Condo buying guide.