Remember 1987

Do you remember the 1987 Iran-Contra hearing when then Senator Al Gore was hammering Oliver North about his $50,000 security system he had in his home.  Mr. Gore wanted to know why he needed such a system. Mr. North told him her had been threatened by a terrorist named Osama Bin Laden. Mr. Gore did not know who that was and asked Mr. North what HE thought should happen to Bin Laden and Mr. North replied that he should be assassinated before he did serious harm to the USA. 

I remember at that time the media was all over Oliver North as some sort of militant radical.  Fast forward to 2010 and look at us now.  How soon America forgets. 

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Birth & Death of The Open House

I remember in 1991 when you walked into a real estate office and it was a nice quiet place to work.  When you needed to know about a listing, you walked into your office and pulled up an MLS BOOK to see if the listing you took three weeks to make it into this book.  THIS is the reason Realtors did “OPEN HOUSES” on listings.  If you took a listing on March 3rd, your property would not hit the MLS until the April MLS Book.  This is why we took listings for 7 months or 13 months because it took 30 days to get you into MLS (depending on when you listed).  We did “BROKER OPEN HOUSE” on Tuesday to let Realtors see the house (because it would not be in the MLS Book for a few weeks) and we did public open houses on weekends for the same reason, no MLS visibility yet.

As we moved to the mid 1990’s, that quiet sound was gone in Realty offices across America replaced by the constant sound of the DOT MATRIX printers and the computer age in real estate.  You heard at least 3-4 of those printers going at it from sun up to sun down.

By the late 1990’s to early 2000’s, most MLS information was on a Windows based format and the use of laser printers and to a less efficient degree, those color “ink” machines took over.  Virtual tours were born and to me, it seemed like a long time, the market, tech wise really remained steady, without any REAL useful marketing tools made available.

That was before now.  That was before I discovered EXIT Realty and my new toolbox of marketing products. E-Listings and Exit Promo Shop.  NOW, I can take a listing, take the pictures at the listing and go to my office and within 30-45 minutes I can have a menu of tools available.  I can print a FULL COLOR GLOSSY, four page brochure in Promo Shop, I can pump out my “JUST LISTED” postcards for the community, I can e-mail that same flyer to top Realtors in the area and my database and I can do a few more things.  My 1-800 number in E-Listings gives my recorded message to potential Buyers of my listings (under my name rider is the 1-800 recorded info line on this listing) and the buyer can hit a button and get my E-Tour right on their Smart Phone in seconds! My listings have a website dedicated to their house (www.whatever the listing address is) with downloadable flyers of the house, mapping to and from the house and other information.  I can burn the E-Tour on a CD right from the program, label as well.  All of this is sindicated to all major search engines with a click of a button. Social networks like Linkedin, Facebook and Myspace? Upload right to those sites as well.  How about on-line tours and e-magazine? I could write  for another 2 hours on those products alone!

Open House? Are you kidding? Why waste time waiting for a buyer when you can find 20 of them with the products I just mentioned?  Since EXIT REALTY is the only major franchise born AFTER the tech revolution, we are MILES ahead of the competition on the marketing front.

Nobody offers less fees, more than 100% commissions, and all the marketing tools your mind can cover. Nothing compares to Exit! I am going on my 20th year in the business and I am not talking sour grapes here! In 2008 I was #1 WORLDWIDE with ERA and when I saw what EXIT had to offer me, I could not leave fast enough!  I skipped the ERA Convention and did not even get my award in 2009 because I was on my way……. DANCING my way over to EXIT!  Best decision I have ever made! If you would STOP looking out for your broker, who is also looking out for your broker and look at what is best for YOU and YOUR FAMILY, you will join OUR FAMILY here at Exit.  The more you learn, the better decision you can make.

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And What Did The Banks Do With The Money?

broken house

So the government spent ONE TRILLION to bail out the banks!  I found myself thinking today, why did they not bail out the real estate market instead?  It is estimated that it would take less than 800 Billion to bring all “upside down” property owners “right-side up” and that was a better route to go.  By bailing out the real estate market, it would have bailed out the banks to a degree at the same time.  It would have been a long term, win-win for America. The economy would have been rolling by now. After all, when President Bill Clinton pressed the banks to lower lending standards, it allowed way too many unqualified buyers to buy real estate.  Suddenly there were too many buyers and not enough houses.  Did they learn nothing from the savings and loan scandal? The banks were to blame for what happened to a larger degree.  You can make a case for others as well, but the banks should carry the bulk of the blame for the meltdown.

I believe President Obama made one of the biggest blunders in America’s history by not righting the upside down real estate market and this is the reason: China, the main buyer of our U.S. mortgages is no longer going to purchase those notes effective mid 2010.  At that point, the banks will have no choice but to raise interest rates to offset the monetary loss from China and to pay for the risk of holding those once fashionable loans.

The last quarter of 2009 and the first quarter of 2010 WAS looking pretty good….. until the China announcement.   What was a recovering, but still unstable realty market could take another downturn in 2010.

Quite simply, about 10% of homeowners (those upside down) may just take a walk and send in their keys.  After all, they can RENT the same caliber home now for much less.  Those investors who buy those foreclosures are the ones winning.  Mr. Obama wanted to protect “main street” but it looks like he took care of the banks who caused this mess with the Secretary of State’s husband.  His loan modification program? Nothing.  Refinancing adjustable rate loans for borrowers? Nothing.  The government was better off letting the banks fail and doing nothing that bailing them out.  They are back to the old ways of GREED, GREED, GREED.

I’m not really certain at this point of Senator McCain would have been any different if he would have been elected.  What the country really needed was a TRUE right wing conservative that would have allowed the system to correct itself.  I really can’t see what all of this mounting debt will ever be helpful.  We have given our keys to China, and they really own the USA right now.  The banks have done NOTHING to bail out the average American yet took the bailout money to fix their own mess.  One that they created.

We were promised “Change”….. what we needed was REAL Change.  This is not a short-term fix. The President seems like he is already running for re-election and taking the short-term steps to ensure a small boost in the economy.  Not the long-term stability of our great nation.

America needs to reevaluate.

http://www.headofrealestate.com