Selling Tips: Don't Fall Behind

It's that time of year when it becomes more challenging to keep your curb appealing, as such.  Blooms are dying off, grasses are dying back, and your yard lacks color.  Yes, that beautiful Sugar Maple is boasting some lovely shades of pink and yellow, however, those leaves are 20 feet above your front door so that might not be enough. 

The leaves to be concerned with are those that are brown, dry, and covering your front  lawn.   Leaving your leaves sit on your lawn does it no favors.  You are hindering photosynthesis so you are weakening the grass, and it may start to yellow.  Rake your leaves regularly;  a healthy lawn is an important selling feature.  And make sure to keep your lawn clear of fallen leaves into the Winter to prevent it from developing snow mold.

Letting dead leaves collect at your front porch is another mistake.  Regularly sweep your porch or front steps, and remove the inevitable cobwebs that catch bugs and make your home less inviting.  Think about arranging a potted mum and some pumpkins and gourds at your entrance.   The pop of color is needed on these gray days. 

Many homeowners forget that those leaves that don't make it to your lawn have collected in your gutters.   Make sure to keep gutters clear of debris;  leaves sticking out of gutters can make a buyer think you are not maintaining the home and can contribute to ice damming when the temperatures drop. 

One final note about things to keep out of your yard at this time of year.... political signs!  It would seem to be good old common sense, but I regularly drive past houses with a "For Sale" sign right along side a "Vote for" sign.  You are working with a finite number of possible buyers and you never want to knowingly reduce your possibilities.  We all know there is much emotion surrounding the political process, as there is in the homebuying process.  

Remember, political signs are designed to be noticed, so they will be.  The only vote you are trying to earn right now is that of your buyer.   Tell your councilman you will be happy to support him at the polls only this year.  

"Hedging" My Bets for Good Reason

I regularly tell my buyers, "Don't worry, it's a PERENNIAL landscape... it takes care of itself. "  But I don't leave it at that, I always continue, "It will come up every year and how long it blooms depends on how much time you want to invest." 

Our garden is still blooming and that is because we put time into it.  I love standing at the kitchen window, or sitting at the dining room table, and watching people slowly meander by, at times pointing, regularly smiling.  Flowers are so much more engaging than a lawn, thus our grassy paths serve the purpose of leading you from one bed to the next.

In an earlier post I told you about my obsession with deadheading our butterfly bushes.  There are six and they regularly stand 6-7 feet tall and 4 feet wide.  They are covered with flowers in late June and, without pruning, will produce blooms diminishing in size until late July.  I love butterflies, in particular Monarchs, and I continue deadheading for as long as I see flowers.  This year has been a banner year.

Quick story:  when my Dad passed away, Oct. 1, 2002, I took some relatives to see a birch tree we

Butterfly Release, Oct. 10, 2009

had planted at a nearby garden in his honor while he battled Pancreatic Cancer.   A Monarch butterfly followed us on our garden tour.  I remarked how unusual it was to see one so late in the season.  Two days later we drove to the property on which we were going to build a new home and planted a birch tree:  I took note of the Monarch butterfly flitting around all the while.  On Oct. 4th, during the interment at the cemetery my heart began to smile as I noticed, yet again, a single Monarch circling all through the service. 

 
When I remarried 4 years ago I mused how nice it would be to see a Monarch at our October 10th  ceremony, and finally decided to "hedge my bets" by having two dozen of the winged delights shipped in for our special day.  How beautiful it was and how very special to include my Dad, in some small way.  Yes, some will say I cheated by making sure one showed up at the ceremony, but I feel I did what I was able to do to accomplish my dream. 
 
So, this year, when we stopped seeing Monarchs in the middle of September, it was a little tougher to find the motivation to keep pruning those bushes.  But, on the 1st of this month, while deadheading the waning blooms on the butterfly bushes and silently lamenting the fact that only the bumblebees were enjoying my handiwork, imagine my joy as a Monarch came to visit, and stayed for over an hour, allowing me to take photos of him feasting on the flowers before that long flight to Mexico.  THAT is the payoff I have worked toward all season. 

Fix It Until It's Broken!

When I read about the Mortgagee Letter that was taking away the possibility of Dual Agency in a Short Sale transaction, I immediately knew I had a blog topic.  Just a few short weeks ago I actually blogged about how the government finally did something right, that being short sales.  The HUD Pre-Foreclosure Sale program was written in stone long ago and sometimes that is a good thing.  From the beginning you know what they will accept.  It's terrific to submit an offer and know it will be approved. 

However, before the ink on that blog was dry, the government being the government, decided to mess with something that wasn't broken.  Are they just uncomfortable with the notion of a successful program? 

The NAR, thankfully, stepped in and convinced HUD to delay that condition, based on the fact that in some areas of the country, there is only one brokerage serving an area.  The very broad definition of banned dual agency included agents from the same firm.  HUDs reasoning it seems, if we can call it that, has to do with pocket listings.  A pocket listing is a home an agent doesn't advertise for sale on the MLS, and she can obtain a buyer before giving it exposure which might bring a higher price.

Now, the way I see it, this banning of pocket listings makes sense for bank-owned properties where they may be priced far below market value and can certainly bring higher than listing price.  However, on a HUD short sale, an FHA appraisal is performed prior to marketing.  They then issue a form to the seller which instructs the agent, not just at what price to list the property, but also at what net they will allow the sale to go forward.

If HUD is giving the agent a form ahead of time noting this is exactly the dollar amount we will take in the first 30 days, why is it now believed they can reasonably expect multiple offers, one higher than the next?   I, for one, do not see FHA appraisals coming in so far below the market value that those

properties are closing well above market prices.  Further, in a short sale, versus a bank-owned sale, the highest and best offer is submitted to the bank and considered on an individual basis.  In a HUD short sale we know going into it that offer will be accepted. 

In closing, the other difference between a short sale and a bank-owned property, comes in the intention to minimize the damage done to the homeowner's credit rating.   The longer the process takes, the more opportunity for  negative reporting to credit agencies.  If HUD agrees to a minimum acceptable number based on their own appraisal, why should they muddy up the waters by building in delays.  And as a REALTOR, I, for one, am getting sick of having the fickle finger of fate pointed at us as to blame for all the fraud that led to the current state of affairs.  I actually believe there is a case to be made for the fact that once REALTORS got out of the practice of preapproving buyers things went downhill.   But... that's another blog. 

October is the Month of the Rosary

Although I was raised Catholic, and attended Catholic grade school and high school, I don't believe I ever truly appreciated the beauty of the Holy Rosary.  I remember that, on Good Friday, we would gather together and say the Rosary.  Other than that, I remember receiving a beautiful rosary with Aurora Borealis crystals for my First Holy Communion.

As an adult, as I became responsible for my children's Catholicism, I grew to appreciate the meditative quality of the Holy Rosary.   In fact, I joined the Confraternity of the Holy Rosary, along with my two youngest, whom I homeschooled.  We said the Rosary daily before we started classes, and when 9-11 happened, they knew to turn to the Rosary for comfort in their hour of need.  As we all struggled with a world that was forever changed, there was solace in reciting those prayers and settling into the soothing rhythm. 

When faced with losing the most important person in the world to me, my Father, I led my family in reciting the Rosary at his bedside for hours.  We were waiting for the arrival of my brother and his family and I held my Dad's hand for many hours, my arm cramped and numb, but I felt as though he was only being held here with that bond and I couldn't afford to break it.  As we prayed one set of mysteries after the other I remember the looks from others in the room as they would hear me announce each mystery, or say a prayer with which they weren't familiar.  It was as though I'd been practicing for this moment for years, and I didn't fall to pieces.  I reminded myself of how blessed I was to be given this opportunity to be there and to pray his soul into Christ's arms.

That was eleven years ago Oct. 1, 2002, and I cannot think of that night without remembering the power of the Rosary.  My brother was gifted with the time to say his "goodbyes" and his passing was peaceful.  I continue my devotion to the Blessed Mother on the 1st of October by putting a vase of 53 blooms on her altar, one for each of the Hail Marys prayed in the Rosary.

October is the month of the Holy Rosary and each year it begins for me by remembering how it was an invaluable blessing in helping me say "goodbye" to my Father. 

We Can't All Be Ballerinas

The month of September was a very long one.  I learned that writing a blog takes a certain amount of energy that is obviously just about what I had left over to give at the

end of a day, until I answered the phone the day after my last blog.  These buyers were able to suck the joy out of every bit of the home-buying experience.  I found myself regularly reconsidering my career choice:  for anyone who knows how much I love what I do that statement will convey more than anything else I can put into words.

I tried to fire them a couple times, but they seemed to "get it" so I took them back, as such, only to see the same issues quickly reemerge.  I made the decision to enter the month of October without them as clients and felt a sense of relief, not to mention vindication, when their repeated self-sabotage of a deal resulted in its death. 

Buyers can be a difficult lot, but no more than any other group, in my opinion.  As a rule, I refuse to use the old adage "Buyers are liars," because I hate to enter into any

relationship with preconceived notions.  However, there are buyers, and sellers for that matter, who enter into the same transaction with their own preconceived notion that REALTORS cannot be trusted.  When we first meet I actually include a handout with some of my reviews from people just like them who like me, trust me, and have been clients for years and referred friends and family.  Imagine setting up a date on match.com, and when you arrive at the restaurant you receive a portfolio including letters from previous dates who attest to what a great guy he is;  you might just enjoy the meal a bit more if you can feel less suspicious before the appetizer even arrives. 
 

We all have talents and skills and we need to recognize our own limitations:  we can't all be ballerinas.  You are a "numbers guy" and  your wife is a "former paralegal" and together you can enter into the transaction with those talents knowing neither lot makes you a REALTOR.  You can analyze the contract, you can compare financing programs available, but at some point you need to turn to your agent and let them do what you chose them to do.  If you hired someone because you liked their numbers, thus "negotiating style", but then spend a week picking things apart so that nothing about what is being presented comes close to their "style," are you expecting the same results?  That is like choosing the fully loaded model you test drove on the lot, ordering the stripped down bare-bones version, and when it arrives complaining that you aren't getting the same ride. 

In business, as in your personal life, it is never a good idea to enter into a relationship with the intent to change the other person.  Moreover, in business, where you hire the resume, why would you want to?  

Happy 100th Birthday, REALTOR® Code of Ethics

There are many who will tell you they trust a REALTOR just about as much as they trust a used car salesman.  That certainly makes a point, however, it is not based in reality.  Since 1913 REALTORS have been held to a Code of Ethics; ours was the fourth profession in the country to establish such a code behind doctors, lawyers, and engineers.  Used car salesman to date have no such code.  In fact, the Code of Ethics sets our profession apart from any other sales position. 

As with any profession you will always find a bad apple, you will certainly find someone who does not adhere strictly to the code, and you might just happen upon an agent who is ignorant of the code's required action in a given situation.  However, you should rest assured there are penalties assessed on a daily basis when complaints are filed and investigated. 

The Preamble of the Code references such things as "grave social responsibility and a patriotic duty:" that is a pretty lofty set of ideals for a professional equated with those who kick tires.   We do hold ourselves to a high standard and take the tasks with which we are charged most seriously.  "Fiduciary duty" is a term which rolls easily off our tongues, and immediately causes one to sit up and take notice.  "Is this in the best interest of my client?"  must be our principal thought from initiation of a listing, through closing and beyond. 

Beyond the Preamble there are seventeen articles of the Code, each dealing with a specific aspect of our profession.  These run the gamut from misrepresentation of facts, to the unauthorized practice of law, to truthful advertising.  The volume of information discussed therein might be looked upon as overwhelming and an easily violated.  However, the purest direction to follow, with which one will never be wrong, both personally and professionally, is noted near the end of the Preamble:

"In the interpretation of this obligation, REALTORS can take no safer guide than that which has been handed down through the centuries, embodied in the Golden Rules, "Whatsoever ye would that others should do to you, do ye even so to them."

Have Pre-Approval Letter, Will Travel!

The phone rings and the person on the other end asks for information about one of my listings: one of the first questions I ask, after "Are you working with another agent?" is..... "For what amount is your preapproval letter written?"  Some don't miss a beat and quickly answer, detailing the amount and the lender whose signature graces the document.  Most, however, still say "Oh, I'm just looking at properties right now." 

There are a few things I think, but do not actually say, such as "And that's exactly why Realtor.com is so popular:  you can tour thousands of properties without a preapproval.   However, once you are ready to start crossing thresholds you must be ready to present that piece of paper. "  That usually comes out more like, "Today's market demands that you are able to prove to sellers that you are ready, willing and able to buy their home now!" 

In most cases I provide lender contact info and ask the buyer to call me back as soon as they are through the process.  I note their name and number and tell them I will keep them in the loop and let them know of other interest in the property. 

 
In some cases, however, I am met with righteous indignation as the buyer tells me they have had other agents show them properties without asking if they could afford it.  I never hesitate to explain that I am not just any agent, and I assure my sellers I will only bring pre-approved buyers. 

There have been at least two occasions where, after getting the buyer's name, and being met with resistance, days later I opened my email to find a contract with their name written in block letters upon it.  In each case the showing log proves the other agent brought them through, then they went for preapproval, and some time later the contract showed up.  Obviously those buyers were able to find one of those other agents and it worked out for them.

A couple weeks ago a young man was insistent about setting up a showing on a new listing:  when I told him he needed to be preapproved he balked and quoted the refrain about other agents.   I shot back "Actually I request that agents only bring preapproved buyers through my listings" and he said "Well, I'll find someone to take me through who doesn't think they're wasting their time!"  And he hung up. 

I decided to send him a text message and began "As I was trying to explain...." and I highlighted the fact that he could be wasting his own time as well, and worse yet, setting himself up for failure.  I explained how I've had people tell me they can qualify for $150,000 only to learn they can only obtain a mortgage for a $100,000 home.   If they have already been touring homes in the $150,000 price range they will never be happy with homes priced two-thirds of that number. 

About an hour passed and my phone alerted: text message from "non-preapproved buyer" (that was his name at that time) .  "Wow... I never thought of it like that.  I really appreciate you educating me and I will definitely wait until I have a preapproval.  And I shouldn't have hung up on you.  I am sorry." 

He has a preapproval letter and he called me.  His name is now "Ed... buyer."