Real Estate Negotiating

How To Revive Your Dead Real Estate Leads And Get Appointments NOW

Here’s an interesting statistic: 50% of all real estate leads are never followed up with. That means people are asking for things and they never hear back from anyone.

How about you? Are you generating real estate leads from your Web site and/or expensive print ads, but then following up gets pushed down your to-do list because of your crazy schedule, and then further down, and further down, until those leads end up languishing under a stack of paperwork? Then the stack gets moved from your desk…to a chair…and then maybe filed on the floor. By the time you get around to resurrecting the leads they’ve gone way cold. No point in contacting any of them now, right?

Wrong.

About six weeks ago I was talking to Diane Cardano, a Realtor in Philadelphia, Pennsylvania. She and her team of six buyer specialists are great at generating leads, and consistent about following up with their email drip campaign. Unfortunately, this tried-and-true strategy that had worked well in the past wasn’t working so well anymore. As Diane put it, “Things were really slowing down. We had all these leads, but nobody was committing to come into the office.”

I gave Diane an easy follow-up strategy that we’ve tested and proven to work regardless of whether the lead is cold or fairly recent. I call it the “Nine-Word Email.” Here it is:

Email subject line: Lead’s First Name

Email message: Are you still looking for a home in ___________?

That’s it – nine words.

Diane and her team got the city or area from the information their leads had put in their search parameters. Then they started sending the emails, and in just two weeks this strategy brought them five new buyers. Plus, they heard from additional people who said they’d be looking a few months down the road, and to please keep in touch.

Now, it’s OK if you’re skeptical – Diane was, too. When she called me to share her results, she confessed that she’d thought, “Of course this can’t work – it’s way too easy.”

Diane also ‘fessed up that putting just the lead’s first name in the subject line was contrary to everything she believed an email should be; that is, putting your whole life story in the subject line and then your whole life story again in the email.

That’s that tried-and-true strategy I mentioned earlier.

So, here it is again: The formula that brought Diane and her team five buyers in just two weeks:

Email subject line: Lead’s First Name (Example: Mary)

Email message: Are you still looking for a home in ___________?

That’s it – nine words.

Include your contact information, of course.

And of course, don’t send your emails unless you’re committed to following through and ready to meet prospective buyers now, and add future buyers to your pipeline.

And no more floor filing, OK?

You can generate more real estate leads and turn those leads into contracts, closings and commission checks using the By Referral Only real estate dialogues and marketing tools.

Article Source: Joe Stumpf

Donna Sanford

Phone: 888 381 8654
Email: donna@yoursolution4re.com

Real Estate Investor | Short Sale Professional
Real Estate Transaction Negotiator | Real Estate Investing Services

Your Solution 4 Real Estate, Inc.
Bauer Hill & Associates, LLC
Area Short Sale Pros, LLC
Tri-County Capital Partners, LLC

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Area Short Sale Pros, LLC negotiates short sales on behalf of homeowners, Realtors and buyers/investors and we act as a neutral third party in the transaction. We have partnered with the best short sale negotiators who have over 50 years of combined industry experience and focus specifically on Short Sales. What makes us unique is our extensive contacts with lenders who know we are working for both buyer and seller as a third party negotiator and this gives us the “edge” over others. We service customers in all 50 states and work with all lenders and mortgage servicers. We are professionals with a proven track record for achieving positive outcomes for our clients. Call us now at 888-381-8654.

Categories: Business Connections, Commerical Real Estate, Investing in Real Estate, Real Estate Investing, Real Estate Negotiating, Real Estate Sales, Residential Real Estate, Short Sale Pro

Tags: Business Connections, Commercial Real Estate, foreclosed homes, Foreclosure, housing market, Real Estate Investing, Real Estate Networking, Real Estate Transaction Negotiator, Residential Real Estate, short sales

15 OCT 0

The Impact of Short Sales and Foreclosures on Your Credit Score

Want to know how a foreclosure or a short sale will impact your credit score? The answer is found in a two digit code. The three major credit reporting agencies – Equifax, Experian and TransUnion – use a scoring algorithm to determine your credit scores. Every item on your credit report is assigned a two digit code. Your score is a compilation of all these codes contained in your credit report.

Let me give an example of how these codes are used to calculate your score. If you are current on a credit card payment you might be given a code of 01. All 30 day late payments might be assigned a score of 02. Ninety day late payments will have a score of 03. Payments over 120 days late will be given a score of 04. If the account ends up in collections you will get a score of 05. During the calculation of your credit score you will be given positive points for every code of 01. Codes 02 through 05 lower your credit score. Code 05 will lower your credit score much more than a score of 02. This helps to penalize your credit score more for the worse case scenarios.

A short sale and a foreclosure are assigned unique two digit codes. All three of the major credit reporting agencies will code all foreclosures the same way. Typically a homeowner that experiences a foreclosure can expect to see their credit score drop 100 to 120 points immediately. To make matters worse the scoring algorithm will continue to punish your score for up to two years. Albeit the score is lessened as that two year time frame passes. The foreclosure will remain on your credit report for seven years.

A short sale can be coded differently based on how the information is reported to the credit reporting bureaus. A short sale can be coded as a charge-off, a 120 day late payment or as a settled account. All of these codes will cause your score to drop on average 100 points. The advantage of these codes is the scoring algorithm will punish your score much less over time than it does with a foreclosure. For that reason most people with a short sale will see their credit score improve quicker over time than with a foreclosure.

Sometimes people can challenge how an item is reported on their credit report with the three major credit reporting agencies. If the agencies are unable to verify the validity of the information as it is reported they are required by federal law to remove the item. People have had more success in challenging how a short sale is reported on their credit report than they have in challenging how a foreclosure is reported. If you are able to successful remove the reporting of the short sale, your score will improve dramatically.

Losing your home to either a short sale or a foreclosure is never a pleasant event to experience. If you had to choose between the two, a short sale will have shorter lasting impact on your credit score than does a foreclosure.

Article Source: Jennifer Minge

Categories: Business Connections, Foreclosure, Investing in Real Estate, Real Estate Negotiating, Real Estate Sales, Residential Real Estate, Short Sale Pro

Tags: Buying Forclosures, foreclosed homes, Foreclosure, housing market, Real Estate Investing, residential foreclosure, short sale, Short Sale Pro, short sales

4 SEP 0

Why Are Foreclosures So Undervalued?

If you are looking to buy a foreclosed home, you may find yourself asking a lot of questions as to why the price is so low and also wondering what possibly could be wrong with the property that may have caused it to become foreclosed in the first place. These are normal questions that many people tend to ask before deciding to purchase a foreclosed home. Of course it is only normal to wonder is foreclosures are undervalued because there is something wrong with the property. Rest assured, this luckily is normally not the case.

In most cases, foreclosed homes have nothing wrong with them. The main reason homes are being foreclosed is due to the homeowners no longer making payments on their mortgage. If there are no payments being received, eventually the homes do become foreclosures. When looking at homes, the price is much cheaper then what the normal value would be. This is because it is much easier to sell foreclosed homes, when the prices are lower. When selling a foreclosed home, the person that is in charge of selling the home, will put it up for auction at a lower value price in order to draw in a greater number of people to place bids on the home.

When you are looking to buy a foreclosed home, you will notice that the homes are being sold as fast as they can. This is because there are many rules that need to be followed, which all depend on the state. When a house is foreclosed, there are many processes needed to take in order to be able to sell the house again. Because of these processes, you may notice it is very difficult to get a sales date, simply due to the constant changes.

There are a few different processes to go through. The first process requires the property to be looked into completely. By doing so, the value of the house is decided and the bank call the previous owners of the home, to make a deal on the pre foreclosure amount to sell the house. The next process is called postponement. There are a variety of reasons the sale can be postponed. It may be due to bankruptcy, or someone could be arguing over the title to the house. Either way, whomever is selling the house has the ability to postpone the sale at any time. Once these processes are complete, the auction will be held based on the value that has been decided for the property.

There are many factors that are involved in the foreclosure of a home, and it is important for you to completely understand why the house is being undervalued. Most homes have nothing at all wrong with them, but as you can tell there is a long process when it comes to the selling of a foreclosed home. Once you have purchased a foreclosed home, it is in your control to decide if you would like to try to sell it again for a different value.

Article Source: Bruce Swedal with Ezine Articles

Categories: Foreclosure, Real Estate Investing, Real Estate Negotiating, Real Estate Sales, Residential Real Estate

Tags: Buying Forclosures, foreclosed homes, Foreclosure, Real Estate Investing, Real Estate Investor, Real Estate Sales, residential foreclosure, Residential Real Estate

2 SEP 0

Buying Investment Property – “A Foolproof Plan”?

You’ve done it!

Home prices in your local real estate market are their most affordable level in a decade and interest rates are their lowest ever.

It looks like the stars are finally in alignment and it’s the right time to buy that investment property you’ve been considering for months.

As you formulate your “foolproof plan”, research tells you that the combination of low prices and interest rates will give you a positive cash flow and a return on investment far greater than anything a bank might be offering. The demand for rental units in most markets is up because of the huge number of displaced homeowners.

But you’re wondering how you might make it even more lucrative.

You’ve checked every lender website on the internet and found that the interest rate for a mortgage on an investment property is higher than it would be if it was owner occupied.

The “foolproof plan” begins to take shape.

“If tell my lender that I’m going to live in the property that would give me a lower interest rate and I wouldn’t have to make that 20% down payment, which means I might be able to buy a second investment property with the money I saved”.

You discussed this “foolproof plan” with your neighbor and brother-in-law, who said “no problem” “We know lots of people who did that, and never got caught”

Foolproof plan?

A plan like this is not a “foolproof” plan, in fact it’s more like a scheme or scam.

The execution of this plan is a violation of federal law and that means a fine AND jail time, This is occupancy fraud, pure and simple. Any idea, who investigates mortgage fraud? It’s the FBI and I’ve heard they’re really good at what they do.

Despite everything that has happened and is happening in the real estate market, this is “foolproof plan” continues to play out daily, and lenders know that some people are still trying to buy a home this way. Lenders may have done some dumb things in the past, but we’re not dumb enough to continue doing them as the number of foreclosures continue to climb because we “turned a blind eye” to these schemes in the past.

In today’s market these “foolproof plans” will never withstand the scrutiny lenders are now giving every loan file. They will examine everything from the size of the new house as it compares to your current residence, the increase in commuting time, the motivation of the buyer etc.

If the buyer already owns rental property, chances have now dropped to ZERO this attempt will be successful.

Does that mean there aren’t legitimate reasons to buy another home as owner occupied and keep your current home as a rental? By no means, but that’s a discussion for another time and it won’t involve committing a felony.

by Greg E Cook for Ezine Articles

Categories: Business Connections, Commerical Real Estate, Investing in Real Estate, Real Estate Investing, Real Estate Negotiating, Real Estate Sales

Tags: Business Connections, foreclosed homes, Real Estate Investing, Real Estate Investor, Real Estate Networking, Real Estate Transaction Negotiator

1 SEP 0

Wholesaling to Create Wealth Through Real Estate

Wholesaling allows you to create wealth through real estate with little to no initial investment. Tons of people think you must have a real estate agent and look at thousands of properties, so on and so on to be able to buy any property. That’s crazy to me and kind of played, while agents do come in handy we are not talking about that in this article. So lets come to the 21st century and new age thinking on investing or buying a property. When we say wholesaling we are talking about deep discounted properties that are not typically in view of the public. How I do this is by using the power of the web. By using the web we can market to motivated sellers and find hungry buyers looking for bargains.

One of the powers of wholesaling is it gives you an open door into the Real Estate Investing world that is only truly enjoyed by a few. If you choose to kick the door down you can give yourself a tool to create unlimited wealth and live a healthy lifestyle. Now imagine if you will that you “flipped” 15 contracts over the next 12 months. Lets see, well that could make you around $10,000 per deal. Soooo let’s do the math on 15 contracts at around $10,000 that would be an extra $150,000 per year right there.

In this business if you are willing to put in some time and really get it in; you would be surprised at what you can do.

Article Source: EzineArticles expert Kesha Day

Categories: Business Connections, Real Estate Investing, Real Estate Negotiating, Real Estate Sales, Residential Real Estate

Tags: housing market, Real Estate Investing, Real Estate Investor, Real Estate Networking, Real Estate Sales, Real Estate Transaction Negotiator, Residential Real Estate, short sale, short sales

1 SEP 0

Investing in Apartments – 3 Reasons Why Now Is a Great Time

Everywhere one looks today there are growing signs that investing in apartments is a smart idea now and will be for the next several years.

The part of the American Dream that includes a white picket fence and your very own home is fading for many. In the second quarter of 2010, only 66.7% of households owned their own home. That’s the lowest number recorded since the last quarter of 1999. Many of those former homeowners are now renting their homes, and some have gone back to apartments.

In fact, when a Trulia survey recently asked, “Is home ownership a part of your American Dream?”, only 72% responded, “Yes”, compared to 77% just six months earlier.

In a May 2010 survey of over 2,000 U.S. adults, the National Apartment Association found that 76% of the respondents now believe that renting is a better option than owning. This is up from 71% in 2008. Half of the people cited financial reasons, while a full 64% enjoy having no maintenance responsibilities.

In addition to the positive signs from these surveys of American’s attitudes, current apartment owners are reporting improving conditions. The National Multi Housing Council performs a quarterly Survey of Apartment Market Conditions. One section measures “market tightness.” A Market Tightness Index reading above 50 indicates that, on balance, apartment markets around the country are getting tighter; a reading below 50 indicates that market conditions are getting looser; and a reading of 50 indicates that market conditions are unchanged. The July 2010 index stood at 83, up from 38 in January and 11 recorded in January 2009. This is a clear trend showing fewer vacancies in existing apartments.

Greg Willett, VP of MPF Research claims that, “Demand is stunningly high in the first half of 2010.” The number of occupied units increased by 215,000 in the 64 largest U.S. markets through June. That’s almost twice as many as in all of 2009. The overall vacancy rate in the same markets declined to 6.6% from 8.2% in December. Closer to home, the Colorado Springs vacancy rate dropped to 5.8% in the second quarter, the lowest rate recorded since the 5.4% reported for the third quarter of 2001.

The third main reason smart money is moving into apartment investing is the tsunami of new renters coming of age in the next few years. These “echo boomers”, children of the original baby boomers, are now in their 20s and 30s, typically prime renting years.

The Baron’s cover story of July 26, 2010, entitled Renter Nation, claims that, “Roughly 10 million extra folks could be moving into rentals in the next five years.” In addition, the National Association of Home Builders chief economist believes the 83 million echo boomers entering the market over the next decade is a positive demographic trend for the apartment market.

Since improving apartment market conditions usually follow job growth, experts are speculating as to why this improvement is happening without it. Maybe the economy has stabilized to the point that young workers have enough confidence in their current job to move out of home or split up from their roommate, but not enough to put a down payment on a home (if that’s even a goal).

So, because of changing American attitudes about home ownership, decreasing vacancy rates, and the demographic bubble approaching, it’s looking like a great time to be investing in apartments.

Les Goss is a real estate investor and syndicator in Colorado Springs, Colorado. You can get more reports like this one by visiting his blog at http://www.ColoradoSpringsApartmentInvestor.com

Article Source: Les Goss

Categories: Business Connections, Commerical Real Estate, Investing in Real Estate, Real Estate Investing, Real Estate Negotiating, Real Estate Sales, Short Sale Pro

Tags: Real Estate Investing, Real Estate Investor, Real Estate Transaction Negotiator, Residential Real Estate

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