I Don't Want To Sell Your House

That's right. I don't want to sell your house. When I take your listing, I'm NOT going to sell your house -- I'm going to market your house. When you are ready to sell your most important investment, you want someone who can do the very best for you. Don't be content to just list your home with just any Realtor. For example, as soon as I take your listing, I'm going to e-mail 20-50 of the very top agents in the area with information about your home -- 20-50 of the top producing agents who have buyers waiting, and able, to purchase your home. I have several ways to showcase your property, not just sell it. If you want to know more, just contact me for an apointment.

FSBO Buyer Beware

Frequently as a Realtor^® I hear stories of woe. Recently there was a Buyer who put an offer in on a FSBO (For Sale By Owner) property. The offer was for about $6000 less than the advertised price (perhaps the buyers realized that since FSBO sellers don't pay commission, they frequently expect the FSBO seller to lower the price of the property accordingly). The Seller completed the prepackaged contract (probably from one of those .com places or the local stationary store) but wanted to "think about it" for awhile.

About one week later, the Buyer called the Seller to inquire about the contact. The Seller had taken another offer for about $1500 more than the Buyer was offering. In short, the Buyer was out of luck.

The FSBO Seller was "offer shopping"; a common practice among FSBO's. If the Buyer had gone through a Realtor^® acting as a "Buyer's Agent", the Realtor^® would have prepared the contract and provided for a time limit after which the offer would expire. This prevents the Seller from sitting on the offer waiting for better offers to come along.

Buyer's Agency is a relatively new and little understood concept in the real estate industry. It was not too long ago that all agents worked for the Seller and the Buyer was left to fend for themselves. Now, with a Buyer's Agency Agreement, the Buyer has an advocate working only for them -- and expert who can look out for traps like offer shopping.

If you are looking to buy a property, or know anyone who is, and want to know more about Buyer's Agency, (and live in Northeastern Illinois) please call me or make an appointment buy visiting my website.

I Love For Sale By Owner

I love it when a home owner attempts to sell on their own. No really, I do. Most of the time, the home owner will eventually engage the services of a professional Realtor. (If you want to engage the services of a professional Realtor, please e-mail me.) The fact is that most "For Sale By Owner", or FSBO's don't sell.

Why is the failure rate so high? While there are number of factors, it is usually because the home is not correctly priced for the market. Many home owners believe their house to be worth more that it really is. Consider that a Realtor has access to just boodles of data about other houses in the same market. We use this data to accurately price a home when we place a listing. If a home is just a little bit over the market price, then a surprising large number of prospective buyers will not even consider looking at the property. Even if a price of a home is subsequently lowered, the 'buzz' for the property has already passed. It is far better to have the property correctly priced from the beginning.

I'm going to make an offer to anyone considering going the FSBO route (or currently is a FSBO). I'll prepare a complete market analysis for your property to assist you in setting the best asking price for your home. All I ask is two things in return. First, provide me with the names and numbers of any buyers that view your home, but don't buy it. Second, when you subsequently engage the services of a professional Realtor, allow me to present the services I can provide.

If you want to take me up on my offer, then please visit my website now or send me an e-mail.

Property Taxes

I hate paying property taxes. Don't know anybody who likes to. I don't think there is a more unfair tax that has been created. Property taxes, being tied to the value of the property, are not based on the owner's ability to pay. Thus, as property values increase, we are fored to pay higher and higher property taxes. If you are on fixed income, that can be devistating.

There is one way that property owners can reduce the property tax bill (at least in Illinois. If you are from another state, consult with your real estate professional). There is an exemption available, and everyone can qualify. In some areas you get the exemption automatically, but in others, you need to apply for it. If you want to know more reducing your property taxes, please send me an e-mail.

Interest Rate Move Higher

Mortgage interest rates have moved highter since a low near the end of June. The nation average for a 30-year fixed note is currently 5.32% and experts predict that the upward trend will continue. As right inch higher, more buyers will be forced out of the housing market. This may be an excellent time to buy or sell a home and lock in these rates now.

The rates for ARM loan have been moving up faster than conventional 30-year fixed notes. While still at 4.81%, the gap is narrowing. Buyers would be advised to consider both ARM and 30-year to determine which best fits your needs at this time. Your mortgage consultant should be able to assist.

[Source www.bankrate.com]

1% Mortgage Loan No Bargin

I just heard an ad on the radio for a 1% mortgage loan. I was driving and could not write down the website, but did managed to catch the verbal "small print" from the ad. Yes, the 1% rate is an introductory rate for 30-days and the payments are fixed for the first year. What does this mean?

I'm presuming that after the first 30-days, the loan adjusts up based on the prevailing interest rates. If the payments are fixed for the first year, what this means is that you are losing equity every month for the first year since the low payments can't even cover the interest.

I have no idea what happens after the first year, but you know the mortage company will need to make up the interest somehow.

Bottom line -- make sure you understand ALL the terms of the loan before you sign.

Coldwell Banker Primus ranks high

Just learned that Coldwell Banker Primus was ranked #17 in sales last quarter among CB affiliates - and number #3 in the state of Illinois. Forgive the abject back patting.

Welcome and Introductions

Welcome to Real Estate Ramblings!

So, you made it my Blog -- thanks for stopping by. Now I bet you are wondering what the heck this Blog is all about and just who I am. Am I right so far? Okay, so first a little about me and then more on what I want to do with and within this Blog.

All about me.

One of my favorite subjects. My name is Bruce Weise; you can call be Bruce, that's fine. I am a Real Estate Agent with Coldwell Banker Primus Realty in Crystal Lake, Illinois. That's me in profile in the upper right hand corner. I haven't always been in real estate; in fact, I spent over 20 years working in Information Technology -- most recently as a project manager. Leaving IT wasn't exactly my idea, but if you happened to be in IT, or know somebody in IT, then you probably know somebody who used to be in IT. There are too many of us, shall we say 'older', IT people running around, so jobs were hard to find. So, I figured it was time for a career change and now here I am.

Great, if you are here then you managed to get past that Real Estate Agent line without clicking back! Thanks. Crystal Lake is in McHenry county Illinois, which is in the North Eastern part of the state -- we are about 60 miles Northwest of Chicago. I serve the whole area though; McHenry, Lake, Cook and Will counties. If you happen to live in this area -- that's great! And if you happen to want to move to this area -- well that's even greater (please call me, or send an e-mail so we can talk). If you don't know or care where these counties are -- well I guess that's great too, since the focus of this Blog really isn't to sell real estate, but to provide a forum for my musings, and your comments too, on real estate in general. Read on.

This Blog

Considering my background, it's not unusual that I would actively use the Internet in my new profession. Usage of the Internet by buyers of real estate has grown, even in the past few years. Now, about 2 out of every 3 buyers will use the Internet prior to buying a new property. And of these, about 90% will employ a Realtor. Seems to me that since the World Wide Web is already an active marketplace, then the Blogosphere should be a natural extension. As far as I know, I'm the only one in this area -- but I'm willing to be proved wrong.

The purpose of this Blog is not to market properties. Oh sure, I'd love for you to visit my Coldwell Banker website (you can go there now if you want, I'll wait); that site is absolutley for marketing purposes! Rather, this Blog is for rambling on the real estate market in general. I want it to be a place where you -- future buyers and sellers -- can go for information. Hopefully, you will find my ramblings informative, entertaining and even (can it be) useful. Every post here allows for comments; and I look forward to them. Challenge me. Ask me questions. Rant about real estate Agents in general if you want. I look forward to hearing from you.

All the information he is FREE -- you don't owe me a dime. Sure, if you live in northeastern Illinois, and are looking to buy or sell a house, I'd like for you to call me -- but if not, that's OK too. (I love referals too). Hopefully, I'll be posting here frequently as time permits, so stop back often. For now, see you around the Blogs.