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  • 8 in 10 homeowners expect the value of their homes to go up either "a little" (55 percent) or "a lot" (26 percent) in the future.
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    February 27, 2009
    Friday Photo Fun!

    A couple of pictures caught my attention this week and I saved them to share today.

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    I think I stared at the photo above for several moments trying to figure out the objects on the counter. Bottles?  Dishcloth?  Spoon? The picture itself isn't bad, but it would've been so easy to clear the counters to better the chance to pull in buyers.

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    This picture tickles me.  The fruit is a nice touch, but next time I'd take it out of the bag and put in a bowl!

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    Even if you're not a real estate agent, I'll just bet you can figure out exactly why this picture pinged my radar. Le sigh.

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    February 26, 2009
    Epic Home Offered by Titanic Star

    I suppose I'm part of the problem that causes paparazzi to stalk celebrities – I love reading about what they're doing and where they live.  Shak & Jill is going a little celebrity today by showing you a house sold by Mr. Big Celebrity – as featured at Trulia.com.

    This home located on Sunset Boulevard is being sold by Leonardo "The Titanic" DeCaprio for $8,999,000 (why not just round it up to $9 million?).  The three bedroom, three bath home has nearly 3,000 square feet.  You can contact these agents for more information.

    Leolivingroom

    Leodining

    Exquisite taste, for sure.

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    February 25, 2009
    Wordless Wednesday: Federal Style Home Built in 1807

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    February 24, 2009
    Quotable Quotes: Opportunity

    This is the deepest recession I’ve ever experienced, but never have there been more buying opportunities.

    Words of wisdom indeed from Mr. Bob Parks, founder and president of Bob Parks Realty, LLC.

    These words may seem elusive to homeowners today who are facing bankruptcy and foreclosure, but in the big big picture many of us are safe – though possibly feeling nervous and uncomfortable with the economy. There have never been more buying opportunities for those who feel any sense of confidence.

    There are great deals. Loans are available.  If you haven’t owned a home in the last three years, you can get the $8,000 tax credit for buying a home (wouldn’t that be a boost this time next year?).  This will be a long road back to normal – and by normal we’re talking about 2001-02 real estate not the 2005-06 bubble-type market – but it does feel like we’re pointed home now.  Finally.

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    February 23, 2009
    The Open House Bust

    Openhouse
    I sat in an open house yesterday and it was a total bust.  Except the listing agent brought cookies and I inhaled one of my favorites – oatmeal raisin.  Three weeks ago I did my first open house at that model home and had seven people come through.  Last week I did another and just had one guest.  Then yesterday, zilch.

    I've decided that traffic is dependent upon paydays and rent payments.  The first one was the week most people had to pay rent or would've just picked up a paycheck – they had money in their pockets and wanted information because they were tired of paying a landlord.

    I'm also now careful to not hold open houses during big sporting events. If our big football team is playing a game – fuhgetaboutit. Superbowl?  No way.  Same thing happens at open houses as happens at grocery stores – you can hear crickets during big sporting events.

    I'll do an open house next weekend again because it should follow another payday / rent due date.  Wish me luck!

    Photo by Snapman via Flickr Creative Commons.

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    February 20, 2009
    Your New House is Only as Good as Your Neighbor

    In keeping with Ivy’s bad neighbor theme, here’s another bad neighbor video this Friday!  It should make you grateful for where you live!

    YouTube Preview Image

    If you want to see some truly crazy / mean / idiotic neighbors, do a quick search on YouTube for bad neighbor and you’ll hit crazy gold!

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    February 19, 2009
    New Housing Plan Should Boost Economy

    Foreclosuresign
    I received an email today from my Congressman outlining what the new housing plan means for the economy.  From Tennessee Congressman Bart Gordon (who by the way hosted my daughter's Girl Scout troop on our visit to Washington):

    The
    stimulus legislation passed by Congress updates the existing $7500 first time homebuyer tax credit, removing
    the repayment requirement and expanding the credit to $8,000. This wasn't the $15,000 tax credit for
    all new home purchases that I urged my colleagues to include in the final bill, but it provides a basis
    for growth at a time when the housing market has stagnated.

    Now efforts to provide additional assistance
    that the stimulus bill has been signed into law, I will redouble my
    to your industry. You are the cornerstone of our economy, and no recovery plan will be successful without
    significant improvement in the housing industry. With this in mind, I am co-sponsoring H.R. 600, the
    Down Payment
    Assistance Reform Act of 2009, legislation reviving the down payment
    assistance program. I will be working with my colleagues to promote a House version of Senator Isakson's 
    $15,000 homebuyer tax credit. I will also be reaching out to professionals in the real estate industry,
    from homebuilders, to realtors, to bankers, for suggestions on how Congress can be of assistance.

    I
    am also optimistic that reforms to the Troubled Assets Relief Program (TARP) proposed by Treasury Secretary
    Geithner will provide much needed liquidity to the housing market. Among the major provisions of the
    Treasury plan is an expansion of a Federal Reserve's  Term
    Asset-Backed Loan Facility (TALF) program to include commercial real estate.
    TALF is designed to increase credit availability and support economic activity by creating new consumer
    and small business securities with AAA ratings that investors can purchase with confidence. By expanding
    TALF to include high quality commercial real estate loans, the program would be a source of funding to
    purchase new, highly-rated commercial real estate securities, injecting much needed capital into the
    housing market.

    The
    Treasury plan will also remove bad assets from banks, giving them the flexibility to resume lending.
    Stronger accountability measures will be in place, forcing financial institutions to disclose how TARP
    funds have led to increased lending. While more details are needed on the mechanics of these proposals,
    I believe the ideas outlined by Secretary Geithner are sound, and will help restore the market.

    I am reprinting his email because it explains somewhat how the stimulus legislation will work. As a Realtor, I'm calling all the buyers I know who are on-the-fence to encourage them to consider 2009 as the year to buy.

    Through this, however, my only concern (as voiced by a reader on my community site) … will this encourage people who aren't qualified to buy a home to jump in?  I'm hoping the qualification standards will be rigid so in three or four years we won't fall back into this mess.

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    February 18, 2009
    Wordless Wednesday: Rapunzel’s Tower

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    February 17, 2009
    Realtor Opens Heart, Opens Home

    A Realtor in Shreveport opened up his heart when he discovered a homeless man living under the porch of one of his investment homes.  Jim Stewart invited Kenny Woods inside and handed him the keys to the small home.

    “It seemed a shame to me. I have a
    200 square foot house and a guy living under the porch.” So Stewart
    moved Woods inside. "This man right here has such a good heart, it
    hurts me to talk about it," Woods said.

    While remodeling his real estate office, woods and his dog 17 are
    Stewart’s security guards. An arrangement Stewart says keeps his
    property safe, and gets Woods out of the rain. “There's a lot of
    homeless people like Kenny out there and all they need is a leg up to
    give them a chance to better themselves.”

    This is one of the most wonderful things I've read about in a long time.  Personally I've fantasized about what I'd do if I were to win a Powerball and without deviation, it always comes down to offering shelter for my friends in need – paying off someone's home or helping them buy instead of rent.

    My hero for today:  Realtor Jim Stewart of Shreveport, Louisiana.  If you know him, pat him on the back and give him a WAY TO GO!

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    February 16, 2009
    Are You Really a Buyer?

    Drivingcar
    A colleague of mine is working with a young couple buying their first home. They've looked high and low, at some real winners and losers.  In the process, they've found two they love.

    Unfortunately, the buyers haven't taken my friend's advice so they've lost out on both of them. And her advice is simple: talk to a lender.  Unless you've spoken with a lender, you're not a buyer*.  You are a looker.  A lookie-loo.  A tourist.  An expensive companion who likes riding around in cars (time is money for a Realtor, after all).

    I am running into more and more people who profess their interest in buying.  I think we're about to see a bounce in the market, but I also wonder if most of today's buyers are just putting out feelers given the news of today's great deals on houses and strong interest rates.

    If you're thinking about buying, be honest with your agent and let them know if you're just testing the water or if you're serious.  And the best way to show that you're serious is to get pre-approved (or at least pre-qualified).

    *The only exception is if you're paying cash for a home.

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