tag:blogger.com,1999:blog-63175682761372639262024-03-05T22:16:28.103-05:00Sandy Maline Cleveland Real EstateReal Estate related subjects located in Cleveland OhioSandy Maline Real Estate Brokerhttp://www.blogger.com/profile/08206709872589613146noreply@blogger.comBlogger73125tag:blogger.com,1999:blog-6317568276137263926.post-57250747051357111602014-05-06T15:41:00.002-04:002014-05-06T15:41:56.283-04:00Playa Del Carmen Mexico This quaint little Scuba divers town has a lot to offer for the Cleveland snow bird. It is only 30 minutes from Cancun , which means you can get a direct flight pretty cheap because there are always flights to Cancun. The real estate prices are pretty fair, unless you are a stupid Gringo and you pay Mucho more because as I always say don't leave your brain at the border!<br />
<br />
<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgv2DMChS4XKxdtOIyIbxG0ZE-HolRqiimP0Jyk6FqXUzHVS-LLtA4GqZPwDym8kQmbystdRLd5F369q-_HFZHnv8KuYMaZ-LBs2hhCXdoNM7MDl391M8swewm6BAN6iwx5gTZ8whc68kw/s1600/P4190154.JPG" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgv2DMChS4XKxdtOIyIbxG0ZE-HolRqiimP0Jyk6FqXUzHVS-LLtA4GqZPwDym8kQmbystdRLd5F369q-_HFZHnv8KuYMaZ-LBs2hhCXdoNM7MDl391M8swewm6BAN6iwx5gTZ8whc68kw/s320/P4190154.JPG" /></a></div><br />
Every morning you hear the clang of air tanks as they get ready for the next fresh batch of divers. You will see groups of them walking in the street toward the ocean for their dive in the morning and at the end of the day you see their walk of honor coming back from their ocean dive. This seems to be the over all flavor of this wonderful spot on the ocean. <br />
<br />
Driving through Playa Del Carmen is a little tough as there are a series of one way streets that you have to manage to get to where you are going. We stayed at El Faro Residences off 1st street and 10th. It was a real challenge to get here the way the streets are set up but it is a benefit because the traffic is low because of it. Parking is mostly off street parking. The condo we stayed at had parking but not for our unit. We really didn't need the car once we were there because we were smack dab in the middle of town and right on the ocean. Yes there is a little street noise and of course the clanking of the air tanks but that is part of the charm. One morning I woke up at 2 in the morning to hear the most wonderful violin music. I sat on my balcony and enjoyed my little string concert. <br />
<br />
Playa Del Carmen is about 50 minutes or 15 Mexican minutes from Tulum. This is an ancient city about 500 years old that has a beautiful are of ruins to see.<br />
<br />
<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjZVG4h4I_sME4fN_0sJFkIYYgPTCZiM1q7KbWlu6IuO5El7qjKBE8VbMQPKVu_cJJ1N776mkg1XhQYbRxCYxnph4wbaDIgVfjhaSHQNwVraxVaC8GMj3iB5jxjRGZlzIgeHLoPFg5mwto/s1600/P4210203.JPG" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjZVG4h4I_sME4fN_0sJFkIYYgPTCZiM1q7KbWlu6IuO5El7qjKBE8VbMQPKVu_cJJ1N776mkg1XhQYbRxCYxnph4wbaDIgVfjhaSHQNwVraxVaC8GMj3iB5jxjRGZlzIgeHLoPFg5mwto/s320/P4210203.JPG" /></a></div><br />
Another neat sight in this area are the Cenotes pronounced Seh No Tay. These or fresh water craters or well that run under the ground and have a few openings like a large well. There are lots of myths with these. You can dive them, four wheel them, walk them, swim them. There are a bunch of major amusement parks all set up around them along with Zip lining, and of course don't forget all the Mexican stuff to buy.<br />
<br />
I would consider coming back here again or even spending a winter here. If you have a car there are a lot of places close by to visit like Cancun, Cozumel, Isla Mujures (one of my favorites)and Belize.<br />
If you want to buy a condo or a small house here there are plenty of expats here to keep you company. Running a business here is tough. Competition for your dollar is very strong. Restaurants come and go. <br />
Renting ocean front units are available but beware. We reserved a unit through Bookings.com which came through Trip Advisor. I had written confirmation for a one bedroom unit on the ocean. When we arrived at the condo they didn't not have confirmation. What happens here is the condo owners use local real estate companies to lease their properties. There are some companies that do not even have a unit there they just copy a real companies listing. Luckily we didn't put a deposit down with the company that we thought we booked through. We remained calm and the front desk guy pictured here saved our trip!<br />
<br />
<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiVzsWqkru_vBp466F1_XSKgUhH-jQzGCcSKoxN2ozmf-LA9fx828v2lhsWF98X9UYP35XBogHN7Sk9gl6KJfoSmRRS8NqLQSAxbQD1xGVZheDbON2AMKUCp_QnoBwLjBvmjGTW6KC7xIs/s1600/front+desk.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiVzsWqkru_vBp466F1_XSKgUhH-jQzGCcSKoxN2ozmf-LA9fx828v2lhsWF98X9UYP35XBogHN7Sk9gl6KJfoSmRRS8NqLQSAxbQD1xGVZheDbON2AMKUCp_QnoBwLjBvmjGTW6KC7xIs/s320/front+desk.jpg" /></a></div><br />
He called several property managers in his building and got us the same deal we thought we had. We paid through Paypal and everything was great! So I spent some of my time collecting the names of legitimate real estate property management companies in the area.<br />
<br />
One day when we were lounging by the pool we noticed a disgruntled Canadian just complaining up a storm. It turned out that she bought a time share at this condo. The problem is it is a condo not a time share. Someone pulled a fast one on her and got her to pay for a timeshare probably several thousands of dollars for a few weeks worth of time at this condo. I guess the first week was fine but at the end of that she was asked to check out. That is when the fire works started. They even had huge signs stating that they are not a timeshare and please do not talk to timeshare people about this place. Buyer beware! Before you purchase in Mexico do your homework or hire someone like me who has spent years working the Mexican real estate market. And even then look what happened to me? I trusted trip advisor and bookings.com but was smart enough not to pay anything upfront. My front desk hero told me that the company that fraudulently booked me was known for doing just that! The company name was TeamoPlaya.<br />
I reported them to Booking.com but I don't think they did anything. <br />
<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEix2L_R6_AWKH5jwLdfaPS3DW_qial14FEDqapfwVfmYJDfJQjliBrRxqLxS8BFvrpwAtdlUw67MVxX-fDeeRwtd933QFEmjuKgKGvrDzctmIIXVNSM_kECSlQdGtaePiT6g58xKodeOK8/s1600/El+Faro+condo.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEix2L_R6_AWKH5jwLdfaPS3DW_qial14FEDqapfwVfmYJDfJQjliBrRxqLxS8BFvrpwAtdlUw67MVxX-fDeeRwtd933QFEmjuKgKGvrDzctmIIXVNSM_kECSlQdGtaePiT6g58xKodeOK8/s320/El+Faro+condo.jpg" /></a></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhXcu81qK0l9LbnXbF_eykub94_03BMEZoPhx4H1FEk0b7mmpcuFHvMZjXo3Kopbvjmsv-VeZUOcRL-LpvD5oqr1RWEH-Cb7FA_hw0Xo4bYc3eXUintjbjjApNPIxze4TCIFL4JyP3huJU/s1600/El+Faro+pool.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhXcu81qK0l9LbnXbF_eykub94_03BMEZoPhx4H1FEk0b7mmpcuFHvMZjXo3Kopbvjmsv-VeZUOcRL-LpvD5oqr1RWEH-Cb7FA_hw0Xo4bYc3eXUintjbjjApNPIxze4TCIFL4JyP3huJU/s320/El+Faro+pool.jpg" /></a></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjNiZbazD1hgNIjqccSkVTue9cLcA3ZZll0rg8LEMFfQLaWlaMe1h6X9_2mrMnbC7LYrsue5ElCIbOmD4yRapUW1rbJbr1ErHC_DEMKRKtsjIGY3KuPckGx4EX2zKcXNFHObAX87Z9KjhU/s1600/P4180105.JPG" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjNiZbazD1hgNIjqccSkVTue9cLcA3ZZll0rg8LEMFfQLaWlaMe1h6X9_2mrMnbC7LYrsue5ElCIbOmD4yRapUW1rbJbr1ErHC_DEMKRKtsjIGY3KuPckGx4EX2zKcXNFHObAX87Z9KjhU/s320/P4180105.JPG" /></a></div><br />
Sandy Maline Real Estate Brokerhttp://www.blogger.com/profile/08206709872589613146noreply@blogger.com0tag:blogger.com,1999:blog-6317568276137263926.post-61686201531910328552013-03-28T10:55:00.001-04:002013-03-28T10:55:10.720-04:00Fracking the inconvenient truth!<strike></strike>I just went to a continuing Education class on Fracking put on by an attorney named Lee Chilcote. He is a big fan of Fracking because he stands to make big money. Now I know that 2 hour education course doesn't give me enough information to be an expert on this subject, but it did give me some valuable information that I feel I must share with you. <br />
<br />
First of all Fracking isn't like installing an oil drill or a gas well. This is a big operation. It is a relatively new science that is still in its learning stages. Therefore there have been a lot of accidents that have caused irretrievable damage. For one Fracking drill site to be installed they need 640 acres or 2 square miles. What they do is drill down 6000 to 8000 feet vertically. Then they horizontally lazar out around the center in all directions 1 mile. This is done with water,sand and a chemical. Before this class I thought that the checmical was the cause for all these enviromental accidents. What happens when you drill this far down into the earths surface is you bring up radio active gases called radon. We see radon in homes that are built on shale and have a sub pump. This is a gas that can cause lung cancer. The problem with the drilling is this gas is extremely dense in radon. Not like the gas that may leak into your basement. If they drill too far down below the rock surface they can hit earths plates and cause a shift like they saw in Pennsylvannia with earthquakes.<br />
<br />
So far the accidents that have ocurred have been down played. A house blew up in Ohio. Ground waters are being contaminated all over the country and earthquakes have ocurred. There are no repairs for these accidents. It is permanent. The pros and cons for fracking turns out to be financial windfall versus our environment. There are very few laws to protect us from Fracking. The CERLA Comprehensive Environmental Response,Compenstion,and Liability Act does not cover fracking.The SDWA Safe Water Drinking Act does not cover fracking! The RCRA The Resource Conservation and Recovery Act does not cover Fracking. CAA Clean Air Act does not cover Fracking! This Fracking business is like the Wild West. Our countries laws are not prepared to protect it people from this industry. The State of New York and Vermont have issued a moratorium until they feel they can safely move forward with this new way to recover fuel gases.<br />
<br />
Governer Kasich is running full speed ahead seeing this as the big windfall Ohio needs to pull itself forward. It will be a windfall and it will give a kick to our State but it is short term. If you own land (and this should be what really rocks your boat) you can't say no to fracking. If a company decides that they want your land they will force you through eminent domain. Like I said earlier this is no little operation. If you are faced with this situation you need to have guidance. Being a part of a land owner assoication is a good first step. If you sign the wrong lease they can reek havoc on your land. <br />
<br />
Our country is most proud that a person can buy property. Our Constitution states We the people of The United States, in order to form a more perfect union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United Sates of America. Fracking doesn't apply here! NO laws, no rights of the people, no protection. We don't have to worry about terrorists anymore we have to worry about big corporations destroying our land for the sake of money. Sandy Maline Real Estate Brokerhttp://www.blogger.com/profile/08206709872589613146noreply@blogger.com0tag:blogger.com,1999:blog-6317568276137263926.post-57834629511358554972013-02-24T11:23:00.000-05:002013-02-24T11:26:03.642-05:00Cleveland Restaurant week 2013This year Clevelands annual restaurant week is February 22 to March 3. This is where a number of downtown restaurants sign on to do a price fixed menu for $30.00 a plate. Generally it includes an appetizer, entree and dessert. Last night I went dowtown to enjoy the event. I am glad to say our town was ALIVE!!!. There was so much going on downtown. The streets were full of people. The Jump Back Ball was going on at the Playhouse Square. I think a basketball game was on. We had to take another exit to get downtown because the regular exits were packed with cars around 6:30. <br />
<br />
One of the restaurants doing the restarurant week event is Michael Symons Lola. I have wanted to go there for a long time. There was no getting a reservation through Opentable. Sometimes when this happens I call to make an reservation the old fashioned way. Most times I get a table. When I called Lolas the young woman who answered the phone was very smug and announced to me that they are booked until 10:45. It would have been nice if she tried to sell me another night or even said gee I am sorry but we can't accomadate you until 10:45. I am not going to hold this brisk behavior against our famed Michael but as a potential customer she could use a little training in the customer service department! <br />
<br />
This years event is focused on Pierogis. We got reservations at Sans Souci in The Renaissance Hotel. This was great because we could park for $2.00 during this restaurant promotion with the certificate I printed on line. The problem was we parked at Tower City underground parking and it has a automatic ATM like machine. We were committed at that point so we paid it. I would not recommend this parking garage. It is scary and hard to drive around in. The good thing was it was cold and once inside we could go to the restaurant and then over to the Casino all within Tower City without freezing! I didn't realize that if you dine in the San Souci restaurant they will stamp your parking ticket only if you park in the Renaissance Hotel parking which is much nicer!<br />
<br />
San Soucis Chef Brett Montgomery was voted by some group or organization as one of the best top 5 Chefs in America. I was excited to taste his work. The restaurant is kind of dated French Country which is fine because it gives it a little tattered ambience. The service was good, a little stuffy at first. We ordered the price fixed menu promotion. The appetizer was a pierogi with sour cream and carmelized mushrooms. The mushrooms were great the pierogi just average. I ordered the Lamb with polenta and spinach. It was done perfectly with a great sauce. My campanion ordered the skirt steak with potatoes and asparagas. I liked his better(always do). The potatoes were layered like scalloped potatoes and very flavorful, The steak seasoned and cooked just right and the asparagas was perfect. For desert we both got the Caramel Torte which was fabulous. I am not a big desert eater but I ate more bites than usual. <br />
<br />
I was suurprised that this restaurant wasn't busier considering the quality of food and the notoriety of the Chef. I would definetly go back and park with the Hotel next time. All in all Cleveland was buzzing with excitement in the dead of winter. We have so many fabulous Chefs and restaurants to choose from. The Casino was packed with people every machine and table busy. We drove home down 25th street and that was filled with people too. Even with the weather below 30 degrees Clevelanders are out there! <strike></strike>Sandy Maline Real Estate Brokerhttp://www.blogger.com/profile/08206709872589613146noreply@blogger.com0tag:blogger.com,1999:blog-6317568276137263926.post-10504809705249035182012-12-30T12:38:00.000-05:002012-12-30T12:38:26.614-05:00Distressed property review 2012Wow, what a year this has been! We have seen a tremendous increase in activity for people looking to get in on the flipping market. That is where you buy a distressed property and fix it up to resell it for a profit. The competition is tough out there!<br />
<br />
<br />
This is not a game for the mild. It takes guts,cash, and the ability to do the work yourself, so you can make a profit. The most important ingredient I believe, is a good Real Estate professional that you can trust! (ME) You need to know what is the highest amount you will be able to resell it for and what the costs of that sale will be. If you work with a Realtor who is out to make a fast deal it can cost you all your profit! <br />
<br />
You need to find someone (ME) who will give you the truth and is in it for the long run.<br />
<br />
<br />
Recently, I know a guy who is looking to do this. He knows me casually. I found out he is using a real estate agent that has been licensed 1 year! Probably a friend. I don't care how honest or hard working a person you are. 1 year compared to 28 years experience is a big deal! I am sure somewhere along the line he will realize that experience might just make or break his deal. I will keep you posted.<br />
<br />
<br />
The biggest challenge in buying a bank owned home is money. Either you have cash or you will have to find financing and this is very tricky. The process to get a loan on a bank owned or distressed property can push you over the edge on your purchase. There are so many rules, and different options to navigate. <br />
<br />
<br />
A couple things to look out for.... Most of these properties come with long addendums. These addendums tend to tell the buyer if they use the recommended title company of the seller, the seller will pay for title charges. I have a title company that will ony charge an extra $300.00 on your purchase if you want to make sure the title work is done correctly. Title work is insurance and it is all covered under the rules of the government so as long as you have title insurance you should be fine. But watch out if you are buying a VA property. They do not offer or pay for title insurance. I would highly recommend you paying the money to have coverage. These properties are in such a mess when it comes to clear title. The insurance is worth every penny.<br />
<br />
<br />
<br />
Another item to watch out for is transfer tax. Traditionally this has been paid by the seller. We are seeing language that is confusing on this causing the buyer to get stuck with the cost. You have to watch every little item on the Good Faith estimate. (which most buyer can't read or understand)Some banks will outright charge the buyer the transfer tax. These addendums are starting to dig into the buyers pockets more and more. The Fannie Mae addendum just changed so if you read it two weeks ago it is not the same. Always read it to know what your charges will be so you can make an educated decision on your purchase.<br />
<br />
<br />
The other problem, and I don't understand the thinking on this, is the governments repossessed homes tend to have a time period in which they will only accept owner occupant buyers. DON'T LIE ABOUT THIS! The repercussions are not worth it. Huge fines and sometimes the loss of license for the agent. The problem that I see here is sometimes the guys that know how to rehab a home would be the better buyers. They would in fact help bring the market back by reselling these homes at a higher improved price! I just don't get the government. If it was up to me HUD would have a loan product for rehabbers that have shown the ability to fix up homes and re sell them. In fact I would give them first right on the properties.<br />
<br />
<br />
A lot of buyers are concerned that they are not going to get a fair shake on an offer if they don't work with the listing agent. One of my good friends in the business who has been a major bank owned lister will tell you his entire office only sells 7% of their own listings! In fact if the asset manager sees a listing agent selling most of his inventory and not co broking that listing agent could lose the business. NO major listing agent is going to take the chance to double side a deal to make maybe an extra $1000.00 and lose their supply of business. I am not saying everything is always fair but for the most part these guys are so swamped by their inventory and endless paperwork that they don't have time to screw around. <br />
<br />
<br />
I had a bank owned property that had multiple offers. The highest offer was way over what the asset manager took. The reason why is the particular property was limited to a renovation loan or cash. This was listed in the MLS. Do you know how many agents wrote FHA offers on it? It was astounding because the house would never fly FHA!<br />
<br />
<br />
If you want to play in the resale game get a good Realtor with experience, someone who wants to sell you more and more properties and be a partner in your success! They need to understand the different types of financing and what will fly. They also need to give you input on what to do, to best sell the property. It is a partnership.<b> If you are out there just calling listing agents all I have to say is Caveat Emptor</b>. <strike><strike><strike></strike></strike></strike>Sandy Maline Real Estate Brokerhttp://www.blogger.com/profile/08206709872589613146noreply@blogger.com0tag:blogger.com,1999:blog-6317568276137263926.post-62789882242090721772012-09-17T12:47:00.000-04:002012-09-17T12:47:14.962-04:002012 Real Estate in Cleveland Ohio market updateThis has been a fabulous year so far. The market is moving. Buyers are buying and listings are selling. BUT we have not been able to see increases in values yet. Whenever I try to push the value on a listing the market responds with low activity.
Buyers are still a little shy and want to know that they are getting "a deal" before they make a purchase. The consensus is no one knows for sure what the future holds for real estate. The general belief is that we have bottomed out and are starting to recover. I hope this is true.
There are still some really good deals to be had. If you have the ability to do repairs the market is ripe for opportunities in purchasing postive cash flow rental property. The rental market is very strong. One apartment owner told me he is 100% occupied and he has been able to raise his rents for the first time in 6 years!
Buying investment property is still a little tough when looking for a good loan product. Most commercial loans are ARM's (adjustable rate mortgages) with a 5 year balloon. There are a few local banks that will lend money if you have 25% down and good cash flow. Credit unions are also great for commercial purchases.
First time buyers have OFHA which will give you 2.5% toward your closing costs.This is an FHA product with 3.5% down. There are some pre payment penalities. Chase bank is offering Mortgage protection to all AFL-CIO members. That means if they lose their job or die the mortgage gets paid. Plus they give $500.00 off on closing costs.
Chicago Title is offering AFL-CIO members discounts on title costs.
If you have a house that is at a higher rate and have been unable to refinance because the value is less than you owe or you have less income than you did when you purchased you can apply for a HARP loan. Your present loan must be a Fannie Mae or Freddie Mac loan, To find out if your loan is one of these go to <i>www.makinghomesaffordable.gov</i> to see if your loan applies.
Call me if you have questions about real estate and real estate finance. Let me put my 27 years of experience to work for you.
<strike></strike>Sandy Maline Real Estate Brokerhttp://www.blogger.com/profile/08206709872589613146noreply@blogger.com1tag:blogger.com,1999:blog-6317568276137263926.post-88039202873923024302012-05-14T10:12:00.003-04:002012-05-14T10:12:56.599-04:00Spring Market 2012I am very glad to report the market is looking like it might be stablizing. There are more buyers out there looking to purchase homes than I have seen in the past few years. There are still a lot of properties for sale. There seems to be a gap in the $200k to %350k market. Move up buyers are looking to snatch a good deal while the interest rates are low. This has not yet driven up pricing. Buyers a more savvy than I have seen in the past. They will walk away from a house if the price doesn't line up with past sales. If you are trying to sell a home and it isn't moving it is either price or condition. Condos are still a tough sale. I think people have become wary of getting involved with condominiums because of the assesments and uncontrollable HOA fees. This is a shame because there are some super properties out there with some pretty stable HOA fees. When you own a home you get hit with replacing a roof,furnace,central air. Well if you own a condo you get hit with assesments to fix issues as well. Just because you pay a monthly fee doesn't mean you won't have to come up with additional funds for repairs.
One of my pet peeves is when people reference Zillow as a price parameter. Zillow doesn't do anything but merge all the values in a neighborhood and gives you a median value. Median values do not take into view what improvements or repair issues are present for that particular property. Another one is when a buyer references the tax value. First of all the county doesn't send an appraiser into every home. They don't even hire real appraisers to put the value on your home. Again the county uses the median approach to put a value on your home. The banks for years have tried to to automate appraisals and have found they can not do this. You need a real person trained in real estate valuation to take an actual look at your property and compare it to other properties that are similar to yours. We look at active properties which would be your competition and comparable sold properties. There is no black and white here. It ends up a caluculated judgment call on where we think the price will be. I have a great track record here and 27 years of experience is something that certainly comes in handy when valuing property.
Financing is still available but you need a job or some kind of income and a good track record for paying your bills (credit score). Commercial finanicing is not so great. All I have found is ARM (adjustable rate mortgages) with a short term and balloon payment which means they will finance you for say 3 or 5 years with a rate that can change on a pre determined timetable and at the end of 3 to 5 years they want the full balance of what is owed. This doesn't seem like a good business move to me unless you know you have a windfall coming. SBA (Small Business loan) is a good loan for someone looking to purchase a property they plan to use for their business. It is expenseive and comes with lots of government imposed rules(red tape).The best bet for commercial financing is credit unions. They use a different set of rules than banks do to amke loans. So far they have been the more stable loan product.
Let just keep our fingers crossed that this recovery continues! Real Estate sales lead to other related commerce so hopefully we can get back to some level economic recovery.Sandy Maline Real Estate Brokerhttp://www.blogger.com/profile/08206709872589613146noreply@blogger.com0tag:blogger.com,1999:blog-6317568276137263926.post-90044382456827515462012-02-03T16:44:00.002-05:002012-02-03T16:44:55.904-05:00Outlook for 2012, in my opinion.<blockquote></blockquote>Happy New Year! I really think we are starting to see a turn around in the real estate market. If you are on the fence about buying my recommendation is to buy now while prices are still low and the interest rates are at the lowest they have ever been! <blockquote></blockquote>
<blockquote></blockquote>The deals are still out there. You have to be patient and keep an eye on the market. I have been in many multiple offers in the past few months.<blockquote></blockquote>
<blockquote></blockquote>My biggest advice is don't look a gift horse in the mouth. Half the time I am showing a really great value and the buyer wants to get a even better deal and ends up losing out to a multiple offer. If you are working with me and I say this is a good deal BELIEVE ME!<blockquote></blockquote>
<blockquote></blockquote>If you are selling your home it is still brutal out there. You have to be the best condition on the market at the best price. If you are not willing to paint a little here and there or replace old dated carpet the market is going to make you pay anyway. The buyers won't pay top price for a house that needs work, even if it is a little work.<blockquote></blockquote>
<blockquote></blockquote>Recently I was just< on a listing appointment and the potential seller asked me if I could sell the home without having to put them through the displeasure of showing it. Boy do I understand where they were coming from! Showing your house is no fun. It is a neccesary evil. Just like going to the dentist, you don't want to go and get drilled but you have to for the long term benefit. Selling of the internet is more likely to happen in a resort market where people may actually buy houses off the internet without seeing it in person.<blockquote></blockquote>
<blockquote></blockquote>So here's to 2012. It looks like it is going to be a good one!<blockquote></blockquote><strike></strike>Sandy Maline Real Estate Brokerhttp://www.blogger.com/profile/08206709872589613146noreply@blogger.com0tag:blogger.com,1999:blog-6317568276137263926.post-4395070169764117512011-12-29T15:24:00.000-05:002011-12-29T15:35:54.048-05:00Avon Lake Ohio is a very welcoming communityRecently this last September I moved to Avon Lake. I have spent most of my life in Lakewood Ohio. Lakewood will always have a special spot in my heart. I spent 6 years in Bay Village and found it to be centrally located for my work but I wasn't impressed with the city and its services considering what I was shelling out for it.
I have to say I am impressed with Avon Lake. Within the first week of moving here I recieved a welcome letter from my city council person. He invited me to his next meeting to get acquainted. Of course I was too busy moving to go but I felt welcomed! Then I recieved a letter from the water and sewer department. This letter told me about their services and how proud they are about what they do. Just recently I recieved a letter from the library inviting me to stop by.
I have never lived in a city that reached out to its new comers so nicely. Everything is so convenient with the state of the art shopping up by route 83 and Detroit. Hienens is so beautiful I had to call a few friends and tell them it is like shopping in Hollywood! ( I come from a grocery store background) I can get used to this! I live real close to Giant Eagle and they are definately keeping up with the pressure of Hienens. Their meat,produce,wine and bakery are great. The discounts on gas can't be beat!
Back to the library, well all I can say is WOW! They have a wonderful space and a childrens center for hands on learning plus a special childrens library. The people were all very friendly. When I signed up for my new library card they welcomed me to the neighborhood!
The city just built a brand new swimming pool with slides and all sorts of play yard contraptions. The school system ranks at the top. I can see why Avon Lake continues to grow. It really is a nice place to live.
I can't wait until the Lear exit off I 90 is open. It will be really convenient. The Cleveland Clinic just opened a new facility off of Lear. With all this I can still buy farm grown vegtables off the farm stands just down the street!<strike><strike></strike></strike>Sandy Maline Real Estate Brokerhttp://www.blogger.com/profile/08206709872589613146noreply@blogger.com0Avon Lake, OH, USA41.5053178 -82.028200141.4577523 -82.1071641 41.5528833 -81.949236100000007tag:blogger.com,1999:blog-6317568276137263926.post-89164617801369578712011-12-27T13:37:00.000-05:002011-12-27T13:37:32.537-05:00Sandy Maline Cleveland Real Estate: Looking back at this past year in Real Estate<a href="http://sandymaline.blogspot.com/2011/12/looking-back-at-this-past-year-in-real.html?spref=bl">Sandy Maline Cleveland Real Estate: Looking back at this past year in Real Estate</a>: This past year was a very busy year. I showed over 700 properties. A lot of them were vacant bank owned properties. Of my 26 years in Real ...Sandy Maline Real Estate Brokerhttp://www.blogger.com/profile/08206709872589613146noreply@blogger.com0tag:blogger.com,1999:blog-6317568276137263926.post-16034640038554238262011-12-27T13:36:00.000-05:002011-12-27T13:36:19.058-05:00Looking back at this past year in Real EstateThis past year was a very busy year. I showed over 700 properties. A lot of them were vacant bank owned properties. Of my 26 years in Real Estate I think this year I worked the hardest and made the least for my efforts. <br />
<br />
There has been a shift in this business. A few agents have been able to get bank owned listings. These agents are listing so many properties they can't keep track of their business and have had to hire help. Now why can't the banks just spread this out to other people like me! I am supposed to be Fannie Mae approved but as of yet, no business. I did get awarded a HUD contract but that proved to be more frustrating and time consuming than it was worth.<br />
<br />
I have become very adept at selling short sales. These are properties that are selling for less than what the owner owes the bank. It is better for the seller to do this than to get foreclosed. A short sale actually helps the market because the seller lives in the house up until the transfer of title. Most of the time the banks will give the seller relocation money so they can move. A short sale protects the property from vandalism and cuts down on vacant houses in the niehgborhood.<br />
<br />
So if you know someone who might need to do a short sale I'm your gal!<br />
<br />
The appraisers are all over the board. Stress sales are causing values to go down. The market has not equalized yet. There is still money out there to purchase, but you have to have a job and good credit. When a house is priced right it will sell. Unfortuanately what that price is, is never what the seller wants to hear.<br />
<br />
If you have a mortgage that is 5 1/2% or higher REFINANCE now if you can!! Call me I will help you find the best deal out there. If you are in a stress situation call me, there is help out there. <br />
<br />
All in all I feel this coming year is going to be better. I have more business going into this coming year than I had in the last few years. I am feeling very optomistic. Cleveland is having a little surge in growth with all the construction downtown. Ford is ramping up in Avon. So there are more job opportunites than there were last year. Hopefully the doom and gloom is in the rearview mirror. <br />
<br />
It has never been a better time to buy a house. The rates are at their lowest and the housing market is thought to be near the bottom! Some other locations in our country are actually experincing growth. If you are selling one home to buy another, you will make up the loss you took on the new house. Don't think of it as losing money, think of it as trading assets and the value will return. I'm Sandy Maline if you want to talk real estate call me 440-554-2260 <strike><strike></strike></strike>Sandy Maline Real Estate Brokerhttp://www.blogger.com/profile/08206709872589613146noreply@blogger.com0tag:blogger.com,1999:blog-6317568276137263926.post-12335844013726593082011-10-01T11:03:00.000-04:002011-10-01T11:21:27.806-04:00Cleveland's Fall market update<blockquote></blockquote>Recently I read an article in the Plain Dealer encouraging people to sell their homes themselves. Save on the Real Estate commission. Now I can't blame anyone for trying to save money. But I've been a top producer in the Cleveland Real Estate market for over 26 years and I have to say this is one of the hardest markets I have endured. <blockquote></blockquote>
<blockquote></blockquote><b>The bottom line is that you have to be the prettiest face on the market at the best price to sell. </b
<blockquote></blockquote>
<blockquote></blockquote>I sold my dream home in Bay Village last month and purchased a brand new home in Avon Lake with my Financee (which is turning out to be a better dream!). I have to say it was more painful selling in this market then in the past. In order to be the prettiest home in the price range I spent about $10,000 to spiff it up. I put new granite, sinks and faucets in the kitchen updated the appliances. I changed all the exterior light fixtures. Once all this was done the house sold and of course for far less than I wanted it to. All in all I took a big beating and loss on the house. I feel like I made up for that loss on the purchase so I'm not going sit around and cry about it. <blockquote></blockquote>
<blockquote></blockquote>The problem in this market is most people can't afford to do what I had to do to get my house sold. Most of the people on the market are in some sort of financial hardship that prevents them from doing the spiff up that they need to do.
The buyer, if they consider the house will of course take tens of thousands off for these repairs if they consider them at all! If your home needs work you are competing with bank owned properties.<blockquote></blockquote>
<blockquote></blockquote>There is movement and things are selling, they just have to be priced right and appealing enough to make someone else want to live there. I have a few saying I find myself repeating over and over. <blockquote></blockquote>
<blockquote></blockquote><b>"If you can smell it you can't sell it"<i></i></b> <blockquote></blockquote>
<blockquote></blockquote><b>"Nobody wants to buy someone elses dirt"<i></i></b><blockquote></blockquote>
<blockquote></blockquote><b>"You can't sell it if you don't show it"<i></i></b> <blockquote></blockquote>
My personal favorite when the seller doesn't want a sign out front.
<blockquote></blockquote><b>":Okay you want me to sell it but not let anyone know you are on the market?"<i></i></b><blockquote></blockquote>
<blockquote></blockquote>The other important thing to remember is just because you need a certain amount of money out of the sale doesn't mean the buyer is going to give it to you. Get realistic.<blockquote></blockquote>
<blockquote></blockquote>As far as using a professional to sell your home, well all I can say is, not all professionals are alike there are some really good agents and there are some really bad agents. If you feel that you know enough to take the biggest asset you have and handle it fine, good luck, there are alot of shucksters out there. Most buyers don't really want to deal direct with the owner so you narrow your playing field in that respect. You also have limited marketing compared to the huge network our real estate industry has built. I know that my listings are on so many sites I can't keep track. I pay out money monthly to be everywhere so that your listing gets noticed. It is a team effort between you cleaning decluttering and showing off your home and me following up on leads and agents to get a dialog going. <blockquote></blockquote>
I read an article that said it will take 89 years to get through all the bank owned properties that are in the pipeline. I believe that article might just be right. The banks are very difficult to deal with. They aren't cutting anyone a break and I am seeing them force people into hardships over small amounts of money that should be worked out instead.
All I can say is, If you are going to sell in this market get ready to take a beating and if you want to do that alone (without an agent), uninformed, have at it. It is a frustrating process no matter what, having someone who knows the language of real estate in your corner seems like a smart move to me.Sandy Maline Real Estate Brokerhttp://www.blogger.com/profile/08206709872589613146noreply@blogger.com0Cleveland, OH, USA41.4994954 -81.695408841.3092209 -82.01126579999999 41.6897699 -81.3795518tag:blogger.com,1999:blog-6317568276137263926.post-52459671478220642212011-07-25T11:32:00.000-04:002011-07-25T11:32:19.857-04:00Mid Summer Market updateThere are certain trends in decorating that are more in demand than others. This is what will make the difference in selling at a reasonable price, getting showings or not selling at all. For one thing Oak cabinets are out! You can dress them up with granite but most of the buyers out there in today's market only want to see Oak on the floors. Another huge decorating mistake is laminate floors. I would say 9 out of 10 people do not like laminate floors! Everyday I see more and more laminate floors. It is like putting counter-tops on your floors. The funny thing is the price for laminate is really not different in price from ceramic tile or hardwood!<br />
<br />
Today I went through 290 listings for a buyer of mine. I was looking for the things they are looking for in a home. Their goal price is around $250k and they want what is considered current trends in decor. The old brick fireplace is out. Gold plumbing and door hardware is out. That old Williamsburg style wood framed fireplace mantel is out. Contemporary is in. <br />
<br />
The photos that the Realtor put on the MLS are so important to the sale of the home. I will go out to a house and re shot photos over and over and update for each season. So many times I see toilet shots and fuzzy shots that do nothing to sell the home. The worst marketing attempt is no pictures at all! <br />
<br />
Landscaping is really important to seal the deal. I showed a home that must of spent 50k on landscaping alone. It was magnificent to look at but it wasn't practical for most of the buyers for that home because it is in a development which attracts families with children. There wasn't a play space for kids because of the elaborate landscape. Also my buyer said if the kids were grown they would love this, but upon reflection realized the maintenance of it would be more work than they were willing to do. The point is don't overdo it, but do spend some money to create a nice environment. Patios,Koi ponds and decks are big. Old wood decks are not as desirable as the new deck product that doesn't rot. A pool and hot tub do not sell houses. Having a Pool will limit the the number of potential buyers for your home.<br />
<br />
I have had people call me and ask if putting a slate or tin roof would be a good idea. My answer is always do it if you want it but don't expect to get your money back. These are quality items that actually over improve your home because a buyer will not pay more money for your home if you have this improvement. Heated driveways are also a great little extravagance but don't expect to get your money back. It only makes the home more desirable. As always it is kitchens and baths that sell. Keep the house clean of lots of clutter and overdecorating. My favorite saying is "If you can smell it you can't sell it"!Sandy Maline Real Estate Brokerhttp://www.blogger.com/profile/08206709872589613146noreply@blogger.com0tag:blogger.com,1999:blog-6317568276137263926.post-30911909522359256542011-06-29T09:39:00.000-04:002011-06-29T09:39:25.519-04:00Cleveland Ohio Real Estate UpdateThis year is definately better than last year. I am seeing a lot of people purchase homes and owner finance them back to family,friends or employees. This is the best investment you can do right now. You can get interest on your investment and have something tangible like the title to the house as collateral. I think this is a great time to invest in some of these bank owned peoperties if you have the money.<br />
<br />
I am still seeing people lose their homes. Some who have struggled to hang on are calling me to find out their options. The banks are just nasty to deal with. At this moment I have been waiting for a short sale bank negotiator to call me back. He has emailed me that he will call me before 1 pm today. I am doing everything to keep my phone line open so I don't miss his call. My seller is desperate and wants to get the bank to work with the offer that is on the table. I know the negotiator has about 400 other properties he is working with. We are just another phone call and number. I'm the one in the trenches feeling the emotions of the homeowner and the potential buyer.<br />
<br />
I hear advertisements on the radio about Save your home but the Federal government is doing nothing about the shake down the banks are doing to the general public. The banks basically force you into selling your home. This is not <b>The American Way!</b> <br />
<br />
Alot of these people could simply hold on if the banks would let them readjust their interest rate to a lower current rate. If you are in trouble you can't qualify for a refinance so what is the point. I've had people who lost their jobs and just needed to add maybe 4-6 months on the back of their loan and they would be able to stay in their home but the process is not n place to make this any easy solution. <br />
<br />
I did finally get a call back from the negotiatior. It turns out the appraisal on the house is too high! Now if this was an outright pruchase the appriasial would be too low! So they are telling me I have to wait 3 more months to possibly get a new appraisal and maybe then I can get this house sold. In the mean time I will send in my own comparable sales and show the feedback on all the showings and maybe they will work something out. Unfortunately not with this buyer who just walked from the deal!!!<br />
<br />
There are a lot of problems with these bank and mortgage systems. The best advise I can give you is try to work with a bank who services their own loans. That way if trouble happens you might be able to work something out. Right now the trap is wide and open and good people are falling in left and right.Sandy Maline Real Estate Brokerhttp://www.blogger.com/profile/08206709872589613146noreply@blogger.com0tag:blogger.com,1999:blog-6317568276137263926.post-48088629147064203612011-05-19T10:37:00.000-04:002011-05-19T10:37:08.982-04:00Taxes they keep climbing!!I don't understand it but today I checked all my current listings to see if I needed to update the taxes for the new tax bill. Sure enough every listing I have had the taxes go up! Now how does that happen when we have had a drop of values in our area as much as 22% in the last 5 years!<br />
<br />
How do our real estate taxes keep going up when our values are down? Simple question. My taxes went up $900.00 this year. I was told The Board of Revision had finally lowered my house value but still my taxes went up.<br />
<br />
Bay Village passed a school levy. When I did the math I figured I would break even between the lower tax value and the new levy but somehow I have to write a check or pay a higher mortgage. <br />
<br />
Add this to lower income and a crushing recession and you have just put people who may have been just holding on, over the edge. What really pushes my buttons is the people on Capital Hill keep getting more benefits, more income,and more opportunities while we cut out more and more things out of our lives. I'm not just talking about not being able to shop at Saks anymore either! <br />
<br />
I haven't gone to a doctor in two years because the last time cost me $800.00 and I have health insurance! I went to get my eyes examined and get a new perscription for glasses and it cost me $300.00. I just joined Kaiser and to my relief I get to go and get check ups without extra cost!But the lingering question is how come my taxes keep going up and now my city services are about to go down!<br />
<br />
Where is all the money going? Does anyone in the government know how to really keep books and watch the bottom line.Sandy Maline Real Estate Brokerhttp://www.blogger.com/profile/08206709872589613146noreply@blogger.com1tag:blogger.com,1999:blog-6317568276137263926.post-87249145907893423462011-05-18T10:11:00.001-04:002011-05-18T10:27:51.715-04:00Making progress with one city plot at a timeI made a new internet friend recently. I have been reading the work of Manfield Frazer. He is a writer who I see on Cool Cleveland.com. His articles about Human rights inspired me to contact him through email and tell him that I am a fan of his work. <br />
<br />
We have been holding a long conversation for a few months now. He sent me his book that he wrote and I was very surprised to find out that he is a past convicted criminal. <br />
<br />
I am reading his book and I have to admit that I can't read it for a long period of time because it sparks such passion in me. I get angry and want to do something to change the way things are. <br />
<br />
This man Mansfield is articulate, smart and compassionate. He is a bear of a man and you can't help feeling comfortable around him as he has a warm welcoming charm or charmisa that he has sharpened over his 68 years. <br />
<br />
Yesterday I went down to East 66th and Hough to see Mansfields vineyard. Yes, I said that right, vineyard in the middle of Hough!! I haven't ever been to the Hough neighborhood. All I remember about Hough was when I was six years old there were terrible riots and people got hurt and killed all protesting for equal rights. As a little girl the message that I had in my head was don't ever go there. <br />
<br />
I was surprised to see so many new homes with beautiful landscapes. Here, Mansfield used to be a part of building homes in this area. He himself lives right across the street from the vineyard in a very nice newer home. I was not surprised to see all the vacant property and vacant buildings.<br />
<br />
Mansfield is looking at the opportunity here. He worked with Cleveland Land bank to start his vineyard. He got the land from them and some seed money to get started. He also has the community involved. He is teaching kids in the area how to farm. He wants this movement to continue with his goal being a winery right across the street from the Cleveland Clinic and next to their new projected 10 million dollar hotel. <br />
<br />
He wants this all to be a community centered enterprise. Giving the people in the area a chance to learn and work with in the development. He is looking for organic inner city farmers and has a few bio domes planned with the help of some philantrophic donations. All this will be a community based learning and work opportunity center. This is giving the people in his community hope and a postive direction with a fantasic goal. <br />
<br />
This started with one little city plot. He calls it The Vineyards of Chateau Hough. Come on you have got to love this! He is looking for sponsors to donate $1000.00 to sponsor one of the 18 rows of grapevines. This money will go toward the funds to help pay the neighborhood kids that are farming it. He is also putting together teaching center on how to grow a vineyard. Yes it is a write off this is a bonafide charity! The sponsors will get a spot to advertise their company and will get all the publicity Mansfield can throw their way. <br />
<br />
When I met Mansfield yesterday we stood on the corner of Hough and East 66th under his big umbrella in the rain and talked about what his goals are. I was so enthused I asked to be a part of it. <strike><strike></strike></strike>Sandy Maline Real Estate Brokerhttp://www.blogger.com/profile/08206709872589613146noreply@blogger.com0tag:blogger.com,1999:blog-6317568276137263926.post-24596064527798762872011-05-16T10:22:00.000-04:002011-05-16T10:22:33.962-04:00Good Bye Middle Class in America!I have just had a really grounding experience. Recently I received a $25 gift card from a business that I do business with as a thank you. This business card was for (can I say the name) Saks Fifth Avenue. <br />
<br />
It took me several weeks to get around to driving out to the East side of town to shop at the Premium shopping mall in Cleveland. It has been a really long time since I went to Beachwood. I have always loved to at least make it out there a few times a year in the past. <br />
<br />
Since I have had a declining income since 2006 shopping at the higher end stores has been at the bottom of my list of choices. I was so surprised to see how busy this mall was. In the middle of a recession! <br />
<br />
Well I went into Saks thinking well maybe I can find a nice sweater on sale and use my $25 dollars off and have something new and nice that maybe will give me a little lift.<br />
<br />
Have you been shopping there lately!!! Everything was $300 to $500! When did this happen? I have a credit card there I used to shop there. I can't even afford a wallet! I will admit that there weren't a lot of people with bags of purchases! <strike><strike></strike></strike><br />
<br />
Nothing has spoken to me in more valid terms than this. There are tons of people out there shopping here at these prices and I am not one of them! I know I have always been middle class. I know that once in a while I get to score a first class seat in a plane or be invited to a loge to view a game.<br />
I am fine with this being not an everyday thing. I appreciate them more. But Hey! The divide has grown to such a big difference that I can't even imagine even flirting with the luxury lifestyle. You know pretending I'm one of them by shopping in one of those stores or staying a night in a fabulous hotel. <br />
<br />
I don't know if this is all smoke and mirrors. But there are poeple making fortunes on the backs of the working class and no one is doing a damn thing about it. <br />
<br />
I have read a lot about World War Two and the thing that absolutely blows my mind is while people were being taken from their homes and put in concentration camps other people were living just fine and in fact capitalizing on it. Turning a blind eye to their neighbors and friends because of one stupid reason (religion, status) or another.<br />
<br />
What is different today? People are losing their homes left and right. If you don't have a good credit score and a job you can't get a job or a good one! You can't get help with your loan at least not the majority maybe 3% do. <br />
<br />
Are we really thinking of electing Donald Trump to be President? OMG!!!I know my age group were teens in the seventies but come on have we all lost our minds? What happened to the America I knew that cared about its citzens no matter what their background. You know the melting pot! <br />
<br />
What happened to the land of milk and honey and opportunity for eveyone! <br />
<br />
Sorry about the rant! I guess I'll just shredd my Saks credit card and carry on!Sandy Maline Real Estate Brokerhttp://www.blogger.com/profile/08206709872589613146noreply@blogger.com0tag:blogger.com,1999:blog-6317568276137263926.post-63152150328758669262011-02-24T10:17:00.000-05:002011-02-24T10:17:32.014-05:00Sandy Maline Cleveland Real Estate: In the trenches selling Real Estate in Cleveland O...<a href="http://sandymaline.blogspot.com/2011/02/in-trenches-selling-real-estate-in.html?spref=bl">Sandy Maline Cleveland Real Estate: In the trenches selling Real Estate in Cleveland O...</a>: "Every morning I check the Multiple listing service (MLS) for the market update. This is a list of new homes on the market that are either ne..."Sandy Maline Real Estate Brokerhttp://www.blogger.com/profile/08206709872589613146noreply@blogger.com0tag:blogger.com,1999:blog-6317568276137263926.post-24766411718935287902011-02-24T10:16:00.000-05:002011-02-24T10:16:07.878-05:00In the trenches selling Real Estate in Cleveland OhioEvery morning I check the Multiple listing service (MLS) for the market update. This is a list of new homes on the market that are either new to the market, re listed, reduced, increased, under contract, sold or expired. Today one third of the new listings were bank owned. I can't check to see how many of the others are a stress sale but I would guess another third. <br />
<br />
In the past Realtors in the Cleveland market didn't get real involved in the rental market. I can remember saying it just doesn't pay enough. Today I am involved in leasing properties actively! I can make the same money leasing a property that I would make selling a low end bank owned home. The difference is when showing the properties the rentals usually have the snow shoveled and the heat on. This has become a luxury when showing houses! The only good thing about not having the heat on is that the bugs go dormant. <br />
<br />
Things have shifted and to stay afloat you have to shift with it. When I list a rental property I put it in the MLS and market it online almost like a property for sale. What I have found to be interesting is the agents that show my rental listings. So often when talking with other agents they talk a big game. Hardly will another agent admit that the market is tough and they are struggling to make the money they once did. When a top producer from a competitive company shows one of my rentals and looks to co broke a commission of say $650.00 I know they are struggling. Game face is gone no more bullshit! <br />
<br />
Breaking that down they get half of that and then they split that half with their broker. So what he or she is looking at making is $175.00. Some companies will nickel and dime their agents for other fees like a processing fee making that $175.00 even less. Not so glamorous now is it?<br />
<br />
Recently the biggest competitive company out there with agents than any other company (not naming names) has pulled a fast one. When they bring a potential tenant they have added language to their paperwork which is called Agreement to enter into a Lease. Way at the bottom of the paperwork they add language which states that if the potential tenant purchases the property within 2 years the owner will pay the agency a full commission. The problem here is it cuts out the listing broker! <br />
<br />
I kept thinking why would Joe big bucks from XYZ company show my rental to making a whooping $175.00? It turns out that because he is looking to skunk me and my client out of our business relationship! <br />
<br />
Do you really want to do business with a company that does business like that? Just like the casinos they didn't get that big by being a nice guy like me. <br />
<br />
I'll stay small, make a good living and sleep well at night. When and if I make it to the Golden Gate I will look whomever greets me straight in the eye knowing I have lived and worked honorably.Sandy Maline Real Estate Brokerhttp://www.blogger.com/profile/08206709872589613146noreply@blogger.com0tag:blogger.com,1999:blog-6317568276137263926.post-87634428989089649092011-01-30T08:10:00.003-05:002011-02-14T09:19:07.423-05:00Selling Real Estate in todays marketThere are two types of real estate that is selling in todays market. One is new or resale property. The other is bank owned or distressed properties. As a Realtor I would prefer to make my living selling new or resale properties. Unfortunately the bulk of the market (where the money is at)is currently in the distressed market.<br /><br />I know a few agents out there that have worked themselves into a nice little niche in the distressed market. One of my colleagues has focused his business on this market for over 20 years. He is doing very well but it is not without a cost. <br /><br />Out of the top agents in distressed sales there are a small number who actually do a great job. Most of them won't even call you back when you send them an offer. My colleague who has been doing this sort of business for over 20 years does a great job. He has a full staff to market and check on the properties. They check the homes every week to make sure there are no squatters and the house is secure and not damaged further.<br /><br />As an agent when I show distressed sales there are a few issues that I don't usually have with a non distressed sale. The biggest one is will the property be secure. Walking into a vacant house that is not secured for the opportunity to sell it is not my idea of making a good living. Over and over I find these homes missing locks. Also no one shovels snow for these houses. So if I am showing distressed property I am going to dress like I'm having a snow day. There is nothing worse than walking through snow drifts up to my butt to show a vacant home with no heat. <br /><br />Once a buyer decides on which distressed property to buy we start a whole new set of issues. Are there multiple offers? Will the listing agent even call me back? If it is a short sale how long do we have to wait for an approval? After all this will the bank pay me my commission? <br /><br />A lot of the people handling bank assets don't have a clue what they are doing. I have found myself having to make dozens of calls just to get the smallest thing accomplished. Like will you accept this offer, can we close this deal, how do I get into this property? <br /><br />As you can see it is not a pleasant way to make a living. After 26 years of selling real estate I am afraid this distressed market has taken its toll on me. I am 53 years old and I don't want to have to carry a firearm to show houses and make a living. <br /><br /><br />I applied to Cuyahoga County to work for The Board of Revision. I applied on line. I took a test on line and then went through 3 interviews. Early January I received a phone call telling me that I have the job and they gave me a opening salary offer. After some negotiation I accepted. I had to have a background check and a drug test. I went down to Ontario and Lakeside and filled out paperwork. My start date was January 31, 2010. I was told that I am not supposed to act as a real estate agent in Cuyahoga County because they felt that it would be a conflict of interest. <br /><br />On January 31 I was told not to come in to work. My new tentative date of hire would be February 14, 2011. On February 9th I got a call telling me that the County withdrew their job offer. After several phone calls I found out that because I am a real estate broker that they felt it was a conflict of interest. If any of my agents sold real estate in The County I would get a percentage of the real estate transaction and they felt that would not be acceptable. <br /><br />I guess I will continue to sell real estate and not get to be a part of the clean up down at The County. I was honored to get the job and wanted so much to bring some integrity back. I will not close my company down for the opportunity to work for the government. <br /><br />In order to make a living in real estate in todays market I guess I will be taking a Firearm safety class and acting like Annie Oakley!Sandy Maline Real Estate Brokerhttp://www.blogger.com/profile/08206709872589613146noreply@blogger.com0tag:blogger.com,1999:blog-6317568276137263926.post-60934005107738143932011-01-28T09:43:00.002-05:002011-01-28T10:56:42.583-05:002011 will it be better than 2010As far as Real Estate goes I think that we may be seeing some hope for this coming year. I have been busier than the last few years in January. My colleagues in the Real Estate profession are all stating that they are seeing more interest this year. Of course they always talk big, but I do have some friends that actually tell it like it is and they concur with me. <br /><br />For the most part I have people looking to make a good investment. I talked with my accountant about taking self directed 401k money and purchasing real estate with it. He wasn't real excited about it. Well I remember 20 years ago I was looking into a 1031 exchange program and no one was excited about that either. I pushed forward, I talked with the IRS to get the low down and set up a third party company to handle the exchanges and saved my clients tons of money!!<br /><br />I am seeing incredible opportunities to make money. If you don't mind being a landlord this is the time to purchase investment property. One deal I just did will bring in 20 percent profit after taxes and insurance. If my client uses an equity loan to purchase this, he will get a interest write off on his taxes and be able to pay it back within 5 years! Then from there it is all profit. Do three of those and you can retire comfortably. <br /><br />I own rental property, it is not easy to be a landlord. You have to be tough but have compassion. I always try to fix things right away. My tenants are my customers and I want to make them happy. Like any customer client relationship if they don't pay, you have to make a decision to work with them or severe the relationship.<br /><br />I have had to evict people and it is not a feel good experience. I have also worked out payment programs with tenants who were going through a tough time and found them to be thankful and loyal tenants because of me being willing to work with them. It is a fine line here where if you are too nice you get taken advantage of. I am known for being quick to evict. If you are 5 days overdue you get a letter posted on your door. If you don't respond to that letter I go forward with the eviction. If you do respond and have a good reason I will work things out. This is what any other business relationship does. Too many people let this go on and on and that is how you lose money.<br /><br />So if you think you have the stomach for owning property . . . This is the time to BUY!!! You know the saying buy low sell high!Sandy Maline Real Estate Brokerhttp://www.blogger.com/profile/08206709872589613146noreply@blogger.com0tag:blogger.com,1999:blog-6317568276137263926.post-4444731290770594802010-12-07T12:37:00.010-05:002010-12-07T13:17:19.971-05:00Sayulita I like to call it See you later<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://1.bp.blogspot.com/_Sh-SufvM83g/TP557bBz1II/AAAAAAAABFs/nwcKpp5W0uE/s1600/195.JPG"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 320px; height: 240px;" src="http://1.bp.blogspot.com/_Sh-SufvM83g/TP557bBz1II/AAAAAAAABFs/nwcKpp5W0uE/s320/195.JPG" border="0" alt=""id="BLOGGER_PHOTO_ID_5548005852741620866" /></a><br /><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://2.bp.blogspot.com/_Sh-SufvM83g/TP51KM3lLiI/AAAAAAAABFk/sH3x0JIni18/s1600/242.JPG"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 240px; height: 320px;" src="http://2.bp.blogspot.com/_Sh-SufvM83g/TP51KM3lLiI/AAAAAAAABFk/sH3x0JIni18/s320/242.JPG" border="0" alt=""id="BLOGGER_PHOTO_ID_5548000609080520226" /></a><br /><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://4.bp.blogspot.com/_Sh-SufvM83g/TP50-QqCI5I/AAAAAAAABFc/MHXpk4_pAF4/s1600/204.JPG"><img style="float:left; margin:0 10px 10px 0;cursor:pointer; cursor:hand;width: 320px; height: 240px;" src="http://4.bp.blogspot.com/_Sh-SufvM83g/TP50-QqCI5I/AAAAAAAABFc/MHXpk4_pAF4/s320/204.JPG" border="0" alt=""id="BLOGGER_PHOTO_ID_5548000403939009426" /></a><br /><br />When traveling there are few places that haunt you to come back like Sayulita does. That is why I call it See You Later. This is a little village just over the mountain and through the jungle from Puerto Vallarta. It is a really neat drive if you have the guts to drive in Mexico. We have been looking for great locations in the Puerto Vallarta area to represent back here in The States to potential snow birds. I really love this little village. When we arrived we drove down this little street pictured above. It didn't look like much, of course that is how everything in Mexico is, they hide things behind walls. After we drove down this street it just kind of opened up into this quaint little town. <br /><br /><br /><br />This is known as a surfer beach. It reminds me of an old hippie town. Everything is beautiful and laid back. The beach front is gorgeous and they have really great restaurants and hotels right there. You would never know this if you just drove by. We thought we were being so adventurous coming to check out this town. When we got here it was full of gringos just like me! This is a big retirement community with a lot of people from Canada living here. There is a wonderful development of new homes along the beach. You have to have the get a way from it all attitude to live here. Personally it is too small for me. I am a city girl that needs a lot of entertainment and choices. However I can't get this place out of my mind. I will be in Puerto Vallarta soon and we plan to visit Sayulita while we are there. I will be updating my site with the new construction prices and pictures and a link to the sites there. This place is like a secret favorite spot.<br /><br /><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://2.bp.blogspot.com/_Sh-SufvM83g/TP5xSJydkDI/AAAAAAAABFU/g3BOHv6M6p0/s1600/230.JPG"><img style="float:right; margin:0 0 10px 10px;cursor:pointer; cursor:hand;width: 320px; height: 240px;" src="http://2.bp.blogspot.com/_Sh-SufvM83g/TP5xSJydkDI/AAAAAAAABFU/g3BOHv6M6p0/s320/230.JPG" border="0" alt=""id="BLOGGER_PHOTO_ID_5547996347646185522" /></a>Sandy Maline Real Estate Brokerhttp://www.blogger.com/profile/08206709872589613146noreply@blogger.com0tag:blogger.com,1999:blog-6317568276137263926.post-69125540202638801572010-12-06T09:43:00.004-05:002010-12-06T10:52:54.962-05:00Let me explain a Short Sale to you<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://2.bp.blogspot.com/_Sh-SufvM83g/TP0EVeahxkI/AAAAAAAABFE/YLUalrCwmPE/s1600/DSCN0652_edited.JPG"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 320px; height: 240px;" src="http://2.bp.blogspot.com/_Sh-SufvM83g/TP0EVeahxkI/AAAAAAAABFE/YLUalrCwmPE/s320/DSCN0652_edited.JPG" border="0" alt=""id="BLOGGER_PHOTO_ID_5547595082978412098" /></a><br /><br />Many people today are facing really stressing decisions. When someone is unemployed for a while their bills start to overwhelm them. The first instinct is to try to save the house. Some people will take every penny they have just to make that mortgage payment. With home values in a drastic free fall most homeowners have lost most of their equity. If you can hang in there until the market returns you might be alright but what do you do if you now owe more than your house is worth? You do a short sale. <br /><br />Some people just sit back and let their home get foreclosed on. This is bad for you and the entire economy. A short sale is when you negotiate with the bank to sell your house and they accept less than you owe. The Realtor Association has been vigilant in getting the government to push the banking industry into working with you and me (the Realtor) to get your home sold. This past April they sent a standard set of rules that the banks are supposed to adhere to. <br /><br />The best rule for you the home owner is if you work with them at the time of closing of the sale they will give you cash for keys. It is anywhere from $1000.00 to $2000.00. this is to help you move. The government has told the banking industry that they have pay the Realtors commission but limit is to 6%. This is good because a short sale takes an incredible amount of time out of the Realtor. Before this rule a Realtor would work sometimes 18 months only to be told by the bank sorry no paycheck for you! <br /><br />If you are employed and have decided you don't want your house anymore and that you'd like to just get rid of it because there is no value a short sale will not work for you. In order to be an acceptable candidate you must have a hardship. Losing your job, losing a spouse, getting transferred these are acceptable hardships. <br /><br />Another good thing about a short sale is that the government has passed a little tax loop hole for you. If you short sell your house the difference between what you owe the bank and what your house sold for used to be a taxable gain! I know this sounds nuts but if you sold your home for less and the bank forgave you the difference our government looked at that as a gift or some kind of gain and they taxed you on it. Really you can't get blood from a stone but they do try. Now if you short sale your house the tax rules give you a pass on this tax. Now here is where you have to pay attention. . . If you get foreclosed on you may be responsible for this tax!!! <br /><br />So I'd say there is incentive to work with the bank and not just walk away. Also by doing a short sale the price of the house usually sells for 30% more than a house that has been foreclosed on. So by working with the bank and your Realtor it benefits all of us and helps stop this spiraling decline of values. <br /><br />You would think that the bank is eager to work these out. No they are not! There are all sorts of reasons for this. I call it getting through the gatekeeper. The bank likes to see a house on the market for at least 90 days before they are willing to even talk about working out a short sale. The want to see a market history that you actually tried to get a sale price of what you owe on the house. They also want to see your financial statement. If you have 25g's in the bank forget about it! If that money is in your retirement account they won't touch it for now.<br /><br />My job as a Realtor is to get through the gatekeeper. I will call these people several times a week and be treated like an idiot from them until one day they decide to work with me. One day they will be kind and the next day we can end up starting all over again. I often wonder about these people that work for the bank. Are they so overwhelmed with calls and other short sales that they can't possibly work effectively? Do they sleep well at night knowing that they made it a step harder for some poor guy in Ohio to work with the bank? Do these people have any training or do they know what they are really doing? <br /><br />By the time you really get the bank on board you have usually had a offer that you called them about for several weeks. Finally you will know if they are working with you if they order an appraisal. The problem is we are in a declining market. An appraisal in todays market is worth less three months from now. So if that buyer walks away from the offer after waiting patiently for the bank to respond you now have an appraisal that will be too high in the present market. <br /><br />If your loan on the house is an FHA loan the bank will only order two appraisals. I have to tell you the appraisers can only give todays market value and some of these guys aren't really that good. The bank has to handle the short sale according to FHA rules. The bank is going to ask FHA to give them the difference in what the house sold for and what you owed. This is what FHA is all about it is the insurance on the loan. Our government insured that you would pay this loan. That is why you paid extra money in closing costs when you purchased and you also had that ugly monthly MIP (mortgage insurance premium). I think our government has to get a little tougher with these lenders before they reward their business behavior with the insurance checks. <br /><br />It is a quagmire but it is still worth the effort because it helps our entire country to do the right thing and try to get the best price for your house.Sandy Maline Real Estate Brokerhttp://www.blogger.com/profile/08206709872589613146noreply@blogger.com0tag:blogger.com,1999:blog-6317568276137263926.post-11760830448698974962010-11-06T09:19:00.004-04:002010-11-06T09:39:38.708-04:00Some thoughts on the Health Care battle<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://1.bp.blogspot.com/_Sh-SufvM83g/TNVWDHBhS_I/AAAAAAAABE0/MezjKzImEdM/s1600/health+care+battle.jpg"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 190px; height: 127px;" src="http://1.bp.blogspot.com/_Sh-SufvM83g/TNVWDHBhS_I/AAAAAAAABE0/MezjKzImEdM/s320/health+care+battle.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5536425928346913778" /></a><br /><br />Stop me if I'm wrong but is John Boehner on our side? He wants to stop the health care bill that was voted on last year. I understand this fear of socialized medicine. I am a self payer. That means I don't work for the government or a big company that gives me health care insurance. I don't look forward to big fat pension or double dipping into retirement. Again I am self pay, which means I am a "have not". It seems it is "The Have Nots" against "The Haves". Or maybe it is the other way around. <br /><br />Anyway yesterday I received a letter from Medical Mutual my health care insurance. This letter was to inform me about what to expect with the new health care reform. I was a little nervous when I started reading it. In fact, I waited to read it when I had time to really think about what I was about to read.<br /><span style="font-weight:bold;"><br />I was shocked by how wonderful the news was! In this new reform;</span> <br /><span style="font-style:italic;"><br />1</span>.I am allowed to go to the doctor and get immunizations without charge. <br /><span style="font-style:italic;">2</span>.I am allowed to get preventive health care with out charge!<br /><span style="font-style:italic;">3</span>.My son can be on my insurance until he is 26 years old. <br /><span style="font-style:italic;">4</span>.If I have a child that has health issues they have to insure him until age 19. <br /><span style="font-style:italic;">5.</span>They are no longer allowed to put a lifetime cap on my insurance just a yearly one. <br /><span style="font-weight:bold;"><br />Can someone please tell me what is wrong with this</span>? <br /><br />I have been afraid to go to the doctor for over two years. Every time I have gone it has cost me big bucks! Once my doctor wanted a test done and told me to go to a certain place to get it. I had to pay for the test out of pocket because of some insurance double talk that made the place I got the test not to be covered. Do you think my doctor would call me back after I got the bill? Do you think the insurance company cared? No, it took me two years to pay it off!<br /><br /><span style="font-weight:bold;">Am I missing something here about Health care? I was thrilled with the news I received yesterday. John Boehner can you please explain to me why this is bad?</span>Sandy Maline Real Estate Brokerhttp://www.blogger.com/profile/08206709872589613146noreply@blogger.com0tag:blogger.com,1999:blog-6317568276137263926.post-15877343570047149762010-10-25T17:42:00.000-04:002010-10-25T17:42:39.183-04:00Sandy Maline Cleveland Real Estate: Big Versus small<a href="http://sandymaline.blogspot.com/2010/10/big-versus-small.html?spref=bl">Sandy Maline Cleveland Real Estate: Big Versus small</a>: "In today's world it seems people keep thinking with the Big Box mentality. Some think Big is better. Sometimes Big is better! Sometimes yo..."Sandy Maline Real Estate Brokerhttp://www.blogger.com/profile/08206709872589613146noreply@blogger.com0tag:blogger.com,1999:blog-6317568276137263926.post-3706639403652749612010-10-25T17:05:00.003-04:002010-10-25T17:39:04.718-04:00Big Versus small<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://3.bp.blogspot.com/_Sh-SufvM83g/TMXxNtCZzTI/AAAAAAAABDw/oxWXIYdJJiw/s1600/smallfish_bigpond.jpg"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 320px; height: 237px;" src="http://3.bp.blogspot.com/_Sh-SufvM83g/TMXxNtCZzTI/AAAAAAAABDw/oxWXIYdJJiw/s320/smallfish_bigpond.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5532092935024790834" /></a><br /><br />In today's world it seems people keep thinking with the Big Box mentality. Some think Big is better. Sometimes Big is better! Sometimes you can get a better price when you order in large quantities. Sometimes a large company can out do a smaller company on price because of shear volume.<br /><br />In Real Estate this is not the case. In fact the larger the company the more expensive it will be to work with them. Usually when I pay top dollar for something I want the best quality or the best service. There are a few industries that have been able to duplicate their service or product in such a way that they can deliver the best quality and service while continuing to grow to enormous sizes.<br /><br />The hotel and entertainment industry such as Disney, Harrahs and Marriott come to my mind as symbols of large companies that have been able to keep quality and service while becoming huge entities.<br /><br />Real Estate service can not simply be duplicated because of the enormous emotions that go into a purchase or sale. I've trained some really great agents when I have been in management roles. Everyone always adds their unique personality. Most of those really great agents are also no longer selling real estate because of the emotional and financial roller coaster they found this business to be. <br /><br />I guess you can say I'm a little fish in a big pond and that suites me just fine. Like the big box company you don't see my sign on every other street. I don't tend to have my houses on the market forever either. If a seller will actually listen to me, we will get the house sold. <br /><br />The other <span style="font-style:italic;">Advantage<span style="font-weight:bold;"></span></span> (love that word) is I can change my marketing strategy. The big box real estate companies have what I call a broad marketing campaign. Every house gets put on that campaign. The only way something different happens is if the agent is willing to pay extra money on top of what they are paying the big company already for the broad based marketing campaign. <br /><br />Evey home is unique. With the internet I can get a home in front of the right buyer by being extremely internet savvy. I am constantly learning new tricks to stay on top of this ever changing technology. A large company can't do this. Have you ever seen a real estate listing on line without a picture? You will never see one of my listings on line with out a picture. That is just a small example of quality and service you can expect with a little fish in a big pond!Sandy Maline Real Estate Brokerhttp://www.blogger.com/profile/08206709872589613146noreply@blogger.com0