NRT LeadRouter 3.0 Agent Training Schedule for November/December 2009
To register for any of the NRT LeadRouter 3.0 Agent Training Sessions, click on the registration link below the class date/time. You will then be prompted to enter your first and last name and your email address. Once you register for a class, you will receive a confirmation email with instructions on how to log into the WebEx session. The session password for all classes is: adminpw
You will also need to join the audio conference in order to hear the instructor. To join the audio conference, please follow the instructions below:
Call the conference bridge number: 973-407-5555, When prompted, enter the Meeting ID: 5007
Class dates/times for November/December 2009:
Tuesday, 11/3/09 at 1:00pm Eastern Time
To register for this training session ------------------------------------------------------- Go to https://mylearning.webex.com/mylearning/k2/j.php?ED=122862672&UID=1134719277 and register.
Thursday, 11/5/09 at 4:00pm Eastern Time
To register for this training session ------------------------------------------------------- Go to https://mylearning.webex.com/mylearning/k2/j.php?ED=122862677&UID=1134719282 and register.
Tuesday, 11/10/09 at 6:00pm Eastern Time
To register for this training session ------------------------------------------------------- Go to https://mylearning.webex.com/mylearning/k2/j.php?ED=122862682&UID=1134719302 and register.
Thursday, 11/12/09 at 11:00am Eastern Time
To register for this training session ------------------------------------------------------- Go to https://mylearning.webex.com/mylearning/k2/j.php?ED=122862687&UID=1134719307 and register.
Tuesday, 11/17/09 at 1:00pm Eastern Time
To register for this training session ------------------------------------------------------- Go to https://mylearning.webex.com/mylearning/k2/j.php?ED=122862692&UID=1134719312 and register.
Thursday, 11/19/09 at 4:00pm Eastern Time
To register for this training session ------------------------------------------------------- Go to https://mylearning.webex.com/mylearning/k2/j.php?ED=122862697&UID=1134719317 and register.
Tuesday, 11/24/09 at 6:00pm Eastern Time
To register for this training session ------------------------------------------------------- Go to https://mylearning.webex.com/mylearning/k2/j.php?ED=122862702&UID=1134719322 and register.
Tuesday, 12/1/09 at 1:00pm Eastern Time
To register for this training session ------------------------------------------------------- Go to https://mylearning.webex.com/mylearning/k2/j.php?ED=123466107&UID=1137732382&RT=MiMxMQ%3D%3D&FM=1 and register.
Thursday, 12/3/09 at 4:00pm Eastern Time
To register for this training session ------------------------------------------------------- Go to https://mylearning.webex.com/mylearning/k2/j.php?ED=123465377&UID=1137729912&RT=MiMxMQ%3D%3D&FM=1 and register.
Tuesday, 12/8/09 at 6:00pm Eastern Time
To register for this training session ------------------------------------------------------- Go to https://mylearning.webex.com/mylearning/k2/j.php?ED=123465177&UID=1137729917&RT=MiMxMQ%3D%3D&FM=1 and register.
Thursday, 12/10/09 at 11:00am Eastern Time
To register for this training session ------------------------------------------------------- Go to https://mylearning.webex.com/mylearning/k2/j.php?ED=123465382&UID=1137730252&RT=MiMxMQ%3D%3D&FM=1 and register.
Tuesday, 12/15/09 at 1:00pm Eastern Time
To register for this training session ------------------------------------------------------- Go to https://mylearning.webex.com/mylearning/k2/j.php?ED=123465182&UID=1137729922&RT=MiMxMQ%3D%3D&FM=1 and register.
Thursday, 12/17/09 at 4:00pm Eastern Time
To register for this training session ------------------------------------------------------- Go to https://mylearning.webex.com/mylearning/k2/j.php?ED=123465387&UID=1137730257&RT=MiMxMQ%3D%3D&FM=1 and register.
Tuesday, 12/22/09 at 6:00pm Eastern Time
To register for this training session ------------------------------------------------------- Go to https://mylearning.webex.com/mylearning/k2/j.php?ED=123465187&UID=1137729927&RT=MiMxMQ%3D%3D&FM=1 and register.
Tuesday, 12/29/09 at 1:00pm Eastern TimeTo register for this training session ------------------------------------------------------- Go to https://mylearning.webex.com/mylearning/k2/j.php?ED=123465392&UID=1137730262&RT=MiMxMQ%3D%3D&FM=1 and register.
Tuesday, November 10, 2009
Monday, November 9, 2009
Final word on First Time Buyer Credit extension
First Time Homebuyer Tax Credit Extended Into 2010! Plus...A New Tax Credit for Certain Existing Home Owners!
It's official. President Obama has signed a bill that extends the tax credit for first-time homebuyers (FTHBs) into the first half of 2010. This program had been scheduled to expire on November 30, 2009.
In addition to extending the tax credit of up to $8,000 through June 30, 2010, the extension measure also opens up opportunities for others who are not buying a home for the first time.
So Who Gets What? The program that has existed for FTHBs remains intact with the one exception that more people are now eligible based on an increase in the amount of income someone may now earn.
Additionally, the program now gives those who already own a residence some additional reasons to move to a new home. This incentive comes in the form of a tax credit of up to $6,500 for qualified purchasers who have owned and occupied a primary residence for a period of five consecutive years during the last eight years.
Deadlines In order to qualify for the credit, all contracts need to be in effect no later than April 30, 2010 and close no later than June 30, 2010.
Higher Income Caps in Effect The amount of income someone can earn and qualify for the full amount of the credit has been increased.
Single tax filers who earn up to $125,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, single filers who earn $145,000 and above are ineligible.
Joint filers who earn up to $225,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, joint filers who earn $245,000 and above are ineligible.
Maximum Purchase Price Qualifying buyers may purchase a property with a maximum sales price of $800,000. First-Time Homebuyer Tax Credit – Frequently Asked QuestionsHere are answers to some commonly asked questions about the tax credit.
What is a tax credit? A tax credit is a direct reduction in tax liability owed by an individual to the Internal Revenue Service (IRS). In the event no taxes are owed, the IRS will issue a check for the amount of the tax credit an individual is owed. Unlike the tax credit that existed in 2008, this credit does not require repayment unless the home, at any time in the first 36 months of ownership, is no longer an individual's primary residence.
What is the tax credit for first-time homebuyers (FTHBs)? An eligible homebuyer may request from the IRS a tax credit of up to $8,000 or 10% of the purchase price for a home. If the amount of the home purchased is $75,000, the maximum amount the credit can be is $7,500. If the amount of the home purchased is $100,000, the amount of the credit may not exceed $8,000.
Who is eligible for the FTHB tax credit? Anyone who has not owned a primary residence in the previous 36 months, prior to closing and the transfer of title, is eligible. This applies both to single taxpayers and married couples. In the case where there is a married couple, if either spouse has owned a primary residence in the last 36 months, neither would qualify. In the case where an individual has owned property that has not been a primary residence, such as a second home or investment property, that individual would be eligible.
As mentioned above, the tax credit has been expanded so that existing homeowners who have owned and occupied a primary residence for a period of five consecutive years during the last eight years are now eligible for a tax credit of up to $6,500.
How do I claim the credit? For those taking advantage of the tax credit in 2009, you may choose to either apply for the credit with your 2009 tax return or you may apply for the credit sooner by filing an amended 2008 tax return with Form 5405 (http://www.irs.gov/pub/irs-pdf/f5405.pdf).
Can you claim the tax credit in advance of purchasing a property? No. The IRS has recently begun prosecuting people who have claimed credits where a purchase had not taken place.
Can a taxpayer claim a credit if the property is purchased from a seller with seller financing and the seller retains title to the property? Yes. In situations where the buyer purchases the property, even though the seller retains legal title, the taxpayer may file for the credit. Examples of this would include a land contract, contract for deed, etc. According to the IRS, factors that would demonstrate the ownership of the property would include: 1. the right of possession, 2. the right to obtain legal title upon full payment of the purchase price, 3. the right to construct improvements, 4. the obligation to pay property taxes, 5. the risk of loss, 6. the responsibility to insure the property and 7. the duty to maintain the property.
Are there other restrictions to taking the credit? Yes. According to the IRS, if any of the following describe your situation, a credit would not be due.
You buy your home from a close relative. This includes your spouse, parent, grandparent, child or grandchild.
You do not use the home as your principal residence.
You sell your home before the end of the year.
You are a nonresident alien.
You are, or were, eligible to claim the District of Columbia first-time homebuyer credit for any taxable year. (This does not apply for a home purchased in 2009.)
Your home financing comes from tax-exempt mortgage revenue bonds. (This does not apply for a home purchased in 2009.)
You owned a principal residence at any time during the three years prior to the date of purchase of your new home. For example, if you bought a home on July 1, 2009, you cannot take the credit for that home if you owned, or had an ownership interest in, another principal residence at any time from July 2, 2006, through July 1, 2009.
Can you buy a home from a step-relative and be eligible for the credit? Yes. Provided the person you are buying a home from is not a direct blood relative, the purchase would be allowed.
Can parent(s) who will not live in the property cosign for a mortgage for their child and the child that is a qualifying FTHB still be eligible for the credit? Yes.
Can a separated spouse who has not owned a home for four years qualify for the FTHB tax credit if the spouse has owned a property anytime in the last three years? No. However, the spouse may be eligible for the repeat buyer credit. The best path to take in any situation regarding income taxes is to speak with a professional tax preparer or CPA.
If you have any questions that fall outside the situations here, give me a call and if you do not have an accountant to speak with, I can refer you to one.
Chris Stevens
513-226 2235
It's official. President Obama has signed a bill that extends the tax credit for first-time homebuyers (FTHBs) into the first half of 2010. This program had been scheduled to expire on November 30, 2009.
In addition to extending the tax credit of up to $8,000 through June 30, 2010, the extension measure also opens up opportunities for others who are not buying a home for the first time.
So Who Gets What? The program that has existed for FTHBs remains intact with the one exception that more people are now eligible based on an increase in the amount of income someone may now earn.
Additionally, the program now gives those who already own a residence some additional reasons to move to a new home. This incentive comes in the form of a tax credit of up to $6,500 for qualified purchasers who have owned and occupied a primary residence for a period of five consecutive years during the last eight years.
Deadlines In order to qualify for the credit, all contracts need to be in effect no later than April 30, 2010 and close no later than June 30, 2010.
Higher Income Caps in Effect The amount of income someone can earn and qualify for the full amount of the credit has been increased.
Single tax filers who earn up to $125,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, single filers who earn $145,000 and above are ineligible.
Joint filers who earn up to $225,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, joint filers who earn $245,000 and above are ineligible.
Maximum Purchase Price Qualifying buyers may purchase a property with a maximum sales price of $800,000. First-Time Homebuyer Tax Credit – Frequently Asked QuestionsHere are answers to some commonly asked questions about the tax credit.
What is a tax credit? A tax credit is a direct reduction in tax liability owed by an individual to the Internal Revenue Service (IRS). In the event no taxes are owed, the IRS will issue a check for the amount of the tax credit an individual is owed. Unlike the tax credit that existed in 2008, this credit does not require repayment unless the home, at any time in the first 36 months of ownership, is no longer an individual's primary residence.
What is the tax credit for first-time homebuyers (FTHBs)? An eligible homebuyer may request from the IRS a tax credit of up to $8,000 or 10% of the purchase price for a home. If the amount of the home purchased is $75,000, the maximum amount the credit can be is $7,500. If the amount of the home purchased is $100,000, the amount of the credit may not exceed $8,000.
Who is eligible for the FTHB tax credit? Anyone who has not owned a primary residence in the previous 36 months, prior to closing and the transfer of title, is eligible. This applies both to single taxpayers and married couples. In the case where there is a married couple, if either spouse has owned a primary residence in the last 36 months, neither would qualify. In the case where an individual has owned property that has not been a primary residence, such as a second home or investment property, that individual would be eligible.
As mentioned above, the tax credit has been expanded so that existing homeowners who have owned and occupied a primary residence for a period of five consecutive years during the last eight years are now eligible for a tax credit of up to $6,500.
How do I claim the credit? For those taking advantage of the tax credit in 2009, you may choose to either apply for the credit with your 2009 tax return or you may apply for the credit sooner by filing an amended 2008 tax return with Form 5405 (http://www.irs.gov/pub/irs-pdf/f5405.pdf).
Can you claim the tax credit in advance of purchasing a property? No. The IRS has recently begun prosecuting people who have claimed credits where a purchase had not taken place.
Can a taxpayer claim a credit if the property is purchased from a seller with seller financing and the seller retains title to the property? Yes. In situations where the buyer purchases the property, even though the seller retains legal title, the taxpayer may file for the credit. Examples of this would include a land contract, contract for deed, etc. According to the IRS, factors that would demonstrate the ownership of the property would include: 1. the right of possession, 2. the right to obtain legal title upon full payment of the purchase price, 3. the right to construct improvements, 4. the obligation to pay property taxes, 5. the risk of loss, 6. the responsibility to insure the property and 7. the duty to maintain the property.
Are there other restrictions to taking the credit? Yes. According to the IRS, if any of the following describe your situation, a credit would not be due.
You buy your home from a close relative. This includes your spouse, parent, grandparent, child or grandchild.
You do not use the home as your principal residence.
You sell your home before the end of the year.
You are a nonresident alien.
You are, or were, eligible to claim the District of Columbia first-time homebuyer credit for any taxable year. (This does not apply for a home purchased in 2009.)
Your home financing comes from tax-exempt mortgage revenue bonds. (This does not apply for a home purchased in 2009.)
You owned a principal residence at any time during the three years prior to the date of purchase of your new home. For example, if you bought a home on July 1, 2009, you cannot take the credit for that home if you owned, or had an ownership interest in, another principal residence at any time from July 2, 2006, through July 1, 2009.
Can you buy a home from a step-relative and be eligible for the credit? Yes. Provided the person you are buying a home from is not a direct blood relative, the purchase would be allowed.
Can parent(s) who will not live in the property cosign for a mortgage for their child and the child that is a qualifying FTHB still be eligible for the credit? Yes.
Can a separated spouse who has not owned a home for four years qualify for the FTHB tax credit if the spouse has owned a property anytime in the last three years? No. However, the spouse may be eligible for the repeat buyer credit. The best path to take in any situation regarding income taxes is to speak with a professional tax preparer or CPA.
If you have any questions that fall outside the situations here, give me a call and if you do not have an accountant to speak with, I can refer you to one.
Chris Stevens
513-226 2235
Saturday, November 7, 2009
Tax creit extended and expanded
The President signed the new bill (HR3548) into law today.
If an individual is under contract but will not close until July 1, 2010, they would be eligible for the tax credit (assuming they meet all other qualifications).They must have entered into the contract by May 1, 2010 and close before 7/1/2010.
For repeat buyers, there is a special rule for long time residents of the same principal residence. If an individual or their spouse has owned or used the same residence as such individual principal residence for any 5 consecutive year period during the 8 year period ending on the date of the purchase of a subsequent residence then such individual shall be treated as a first time homebuyer for purposes of this section with respect to the purchase of such subsequent residence. The timing outlined above would apply in terms of contract timing and closing.
Here is one example for repeat buyers.
12/31/2009 - Customer purchases a new principal residence.
12/31/2001-12/31/2009 – Customer owned a primary residence from 11/6/2003-11/6/2008
Customer can be treated as a first time homebuyer for the 12/31/2009 purchase and would be eligible for tax credit (assuming they meet all other qualifications) of $6500 (joint) or $3250 (individual). No credit allowed for purchase price over $800,000. There are also income limitations.
Here is link to the bill http://thomas.loc.gov/cgi-bin/query/D?c111:5:./temp/~c111bh5WJ8 if you are interested.
If an individual is under contract but will not close until July 1, 2010, they would be eligible for the tax credit (assuming they meet all other qualifications).They must have entered into the contract by May 1, 2010 and close before 7/1/2010.
For repeat buyers, there is a special rule for long time residents of the same principal residence. If an individual or their spouse has owned or used the same residence as such individual principal residence for any 5 consecutive year period during the 8 year period ending on the date of the purchase of a subsequent residence then such individual shall be treated as a first time homebuyer for purposes of this section with respect to the purchase of such subsequent residence. The timing outlined above would apply in terms of contract timing and closing.
Here is one example for repeat buyers.
12/31/2009 - Customer purchases a new principal residence.
12/31/2001-12/31/2009 – Customer owned a primary residence from 11/6/2003-11/6/2008
Customer can be treated as a first time homebuyer for the 12/31/2009 purchase and would be eligible for tax credit (assuming they meet all other qualifications) of $6500 (joint) or $3250 (individual). No credit allowed for purchase price over $800,000. There are also income limitations.
Here is link to the bill http://thomas.loc.gov/cgi-bin/query/D?c111:5:./temp/~c111bh5WJ8 if you are interested.
Wednesday, November 4, 2009
Office meeting notes 11/4/09
We want to congratulate Mike Kieffer on his 5th anniversary with the company. He received a beautiful Howard Miller clock.
We want to wish happy birthday to our November birthdays – Cindy Sizemore, Bill Elfers, Mike Drees & Tasha Heard and also to Emily Dietz on December 1.
Congratulation to Bill Elfers for his excellent “Service Satisfaction Survey”.
Reminder to everyone that to keep everyone else well that when you cough that you cough into your elbow and not you hands or all over everything in front of you. It is only common courtesy.
Our office is 13% ahead of last year for sales thanks to all of you. Please keep up the good work. Some agents in the office have had their best year ever.
Linda is working on 2 experienced agents that may be coming to our office soon.
The Leeker’s have offered to have the Christmas party again this year. It will be on December 12. We will be doing the exchange gift game again this year. Everyone should bring a dish to share. On orders from Joe King there will be no beer or wine served this year.
Linda will be having “Twilight training” on Tuesday nights at 6PM starting tonight. Tonight’s subject will be purchase contracts.
Don’t forget to be here for our office Thanksgiving dinner on Tues. Nov. 17 around noon. Sign up sheet to bring a dish is on side of the mailboxes.
The idea of holding open houses is to ask for appointments. Here are a few suggestions:
1. “You said that you missed seeing some desirable homes in the past. Through our own company’s computer listings and the Multiple Listing Service, I have access to information on thousands of homes. If I know specifically what you’re looking for, I can easily find it. Could we get together and visit for awhile after the open house?”
2. “Since you haven’t discussed the purchase of a home with a real estate agent recently, I think you’ll be pleasantly surprised how much easier this can be. Would 7:00 tonight be a good time to get together or would tomorrow night be better?”
3. “The process of buying and financing a home today is becoming more complex. I’d be happy to review those considerations and show you ways to save some money. I’m available right after the open house at 4:00. May I stop by your home then?”
4. “The equity in your home is affected by not only the price you’ll receive, but by the type of financing you use, the transferability of your existing mortgage and the incidental expenses you’ll incur. I can provide you with accurate, written information in all of those areas. May I stop by and see your home this evening?”
5. “Lenders determine the maximum amount with a formula involving the relationship between your income and long term financial obligations. I work with these formulas daily and would be happy to review them with you after the open house. What time is best, 4:30 or 5:00?”
Be careful when telling a home owner who says he owes more on his house than it is worth that he will have to sell his home on a short sale. The owner should check with his bank first to be sure that they will let him do a short sale. Also you might refer them to a non-profit organization first to see if they can help to keep them in their home. With the economy the way it is today there will be more and more of these types of sales.
Linda asks us to please park in front of the office. People are driving by the office and think that no one is working here.
The Entertainment 2010 books are now ready. We can get them for $15.75 each. They would make excellent client gifts. Carol has the order forms. She needs your check along with the order forms no later than 11/16 to be sure we get them back in time for Christmas giving.
We want to wish happy birthday to our November birthdays – Cindy Sizemore, Bill Elfers, Mike Drees & Tasha Heard and also to Emily Dietz on December 1.
Congratulation to Bill Elfers for his excellent “Service Satisfaction Survey”.
Reminder to everyone that to keep everyone else well that when you cough that you cough into your elbow and not you hands or all over everything in front of you. It is only common courtesy.
Our office is 13% ahead of last year for sales thanks to all of you. Please keep up the good work. Some agents in the office have had their best year ever.
Linda is working on 2 experienced agents that may be coming to our office soon.
The Leeker’s have offered to have the Christmas party again this year. It will be on December 12. We will be doing the exchange gift game again this year. Everyone should bring a dish to share. On orders from Joe King there will be no beer or wine served this year.
Linda will be having “Twilight training” on Tuesday nights at 6PM starting tonight. Tonight’s subject will be purchase contracts.
Don’t forget to be here for our office Thanksgiving dinner on Tues. Nov. 17 around noon. Sign up sheet to bring a dish is on side of the mailboxes.
The idea of holding open houses is to ask for appointments. Here are a few suggestions:
1. “You said that you missed seeing some desirable homes in the past. Through our own company’s computer listings and the Multiple Listing Service, I have access to information on thousands of homes. If I know specifically what you’re looking for, I can easily find it. Could we get together and visit for awhile after the open house?”
2. “Since you haven’t discussed the purchase of a home with a real estate agent recently, I think you’ll be pleasantly surprised how much easier this can be. Would 7:00 tonight be a good time to get together or would tomorrow night be better?”
3. “The process of buying and financing a home today is becoming more complex. I’d be happy to review those considerations and show you ways to save some money. I’m available right after the open house at 4:00. May I stop by your home then?”
4. “The equity in your home is affected by not only the price you’ll receive, but by the type of financing you use, the transferability of your existing mortgage and the incidental expenses you’ll incur. I can provide you with accurate, written information in all of those areas. May I stop by and see your home this evening?”
5. “Lenders determine the maximum amount with a formula involving the relationship between your income and long term financial obligations. I work with these formulas daily and would be happy to review them with you after the open house. What time is best, 4:30 or 5:00?”
Be careful when telling a home owner who says he owes more on his house than it is worth that he will have to sell his home on a short sale. The owner should check with his bank first to be sure that they will let him do a short sale. Also you might refer them to a non-profit organization first to see if they can help to keep them in their home. With the economy the way it is today there will be more and more of these types of sales.
Linda asks us to please park in front of the office. People are driving by the office and think that no one is working here.
The Entertainment 2010 books are now ready. We can get them for $15.75 each. They would make excellent client gifts. Carol has the order forms. She needs your check along with the order forms no later than 11/16 to be sure we get them back in time for Christmas giving.
Wednesday, October 28, 2009
Office meeting notes 10/28
Starting in November Linda will be holding twilight training classes each Tuesday at 6PM and again on Thursdays at 1PM here in our office. If you are a newer agent these classes are very important for you and need to be here. Even experiences agent could learn a thing or too.
Linda is declaring Tuesday’s in November as soup days. Plan on joining us for lunch on these days. Also we are going to have our office Thanksgiving dinner here on Nov. 17 at noon. There is a sign up sheet on side of the mailbox for you to sign up for what you are bringing. Linda is bringing the turkey.
When going on a listing get it out of the way as soon as you get there before you even go thru the house. Tell them you are not a discount broker and if that is what they want then you say you just need to leave. If they go to the doctor and the copay is $50.00 they don’t negotiate it down do they? You are worth the 7% for all you have to offer. Keep that in mind.
What are you going to do to get a sale in November & December? Suggestions were calling your sphere, stopping at FSBO’s, following up on expireds, doing open houses, call past customers for referrals. Expireds should be easier to get since they have already been thru the process. Most expireds today were listed with discount brokers. Those sellers are now ready to get the job done with all you have to offer. Linda passed out a tracking sheet that she got on CB Works for you to track what you are doing. If you are doing nothing you will get nothing. Now is the time to be a “Short sale specialist”. Remember to keep in mind that the first lien is State property taxes, then IRS liens and then mortgages. Tell your buyers of short sale properties that it is important that they buy title insurance.
We will be having an updated “Lead Router” class here on November 10 at 10AM. Everyone who has not already done the class needs to be here.
Jim Conway was here to remind everyone that the end of the year is coming and it is time to check out your insurance plans to be sure you are getting everything you need at the right price.
Linda is declaring Tuesday’s in November as soup days. Plan on joining us for lunch on these days. Also we are going to have our office Thanksgiving dinner here on Nov. 17 at noon. There is a sign up sheet on side of the mailbox for you to sign up for what you are bringing. Linda is bringing the turkey.
When going on a listing get it out of the way as soon as you get there before you even go thru the house. Tell them you are not a discount broker and if that is what they want then you say you just need to leave. If they go to the doctor and the copay is $50.00 they don’t negotiate it down do they? You are worth the 7% for all you have to offer. Keep that in mind.
What are you going to do to get a sale in November & December? Suggestions were calling your sphere, stopping at FSBO’s, following up on expireds, doing open houses, call past customers for referrals. Expireds should be easier to get since they have already been thru the process. Most expireds today were listed with discount brokers. Those sellers are now ready to get the job done with all you have to offer. Linda passed out a tracking sheet that she got on CB Works for you to track what you are doing. If you are doing nothing you will get nothing. Now is the time to be a “Short sale specialist”. Remember to keep in mind that the first lien is State property taxes, then IRS liens and then mortgages. Tell your buyers of short sale properties that it is important that they buy title insurance.
We will be having an updated “Lead Router” class here on November 10 at 10AM. Everyone who has not already done the class needs to be here.
Jim Conway was here to remind everyone that the end of the year is coming and it is time to check out your insurance plans to be sure you are getting everything you need at the right price.
Friday, October 23, 2009
Absorption Calculation:
Divide # of past sales by 12 months (fewer if you wish) to get average # of sales/month
Divide # of active listings (same criteria used as for past sales) by average number of sales/mo (above)
This will give you the number of months worth of inventory on the market.
Linda Wilson
Divide # of active listings (same criteria used as for past sales) by average number of sales/mo (above)
This will give you the number of months worth of inventory on the market.
Linda Wilson
New Blog Links on the right side
We have added several new links to the Blog:
MLS forms printable; printable and interactive MLS forms
MLS code maps; MLS maps of various code areas
Monthly Sales Stats; Monthly sales stats for the Cincinnati market
Mortgage Calculator; a handy mortgage payment calculator
Mike Kieffer
MLS forms printable; printable and interactive MLS forms
MLS code maps; MLS maps of various code areas
Monthly Sales Stats; Monthly sales stats for the Cincinnati market
Mortgage Calculator; a handy mortgage payment calculator
Mike Kieffer
Thursday, October 22, 2009
Office meeting notes 10/20/09
Thanks to Mike Kieffer and also Doc for taking care the meeting today for Linda who is on vacation until Thurs.
CABR is having a class on Wed. Oct. 21 for FREE on Smart phones. If you have been thinking of getting a new phone this session should help you make a decision about what phone to choose. They will present an all encompassing view of the various operating systems available for Smart Phones whether I-phone, Blackberry or Palm. They will review the strengths & weaknesses of various systems and the phone that use them, which PDA will suit you best and how they can be used to enhance your business.
Mike & Doc discussed the many good and bad things with the different types of phone.
There is another class at the board on 10/22 on foreclosures & REO’s. Doc talked about how to do a CMA on Realist. Before going out on a listing appointment you might want to do one in Realist, MLS & Zillow and use all the data to make your best judgment. The CMA from Realist picks up FSBO’s that MLS would not but MLS gives you much more information like condition, features, etc. With Realist also you need to be careful and watch the date the last data was uploaded. Don’t overprice your listings. Even if they sell at a higher price doesn’t mean they will close. Banks today will not let buyers overpay. Ask your buyer to remove all trinkets from the home. When buyers come thru they are too distracted looking at the trinkets and not looking at the house. They need to make their home look like a model home.
CABR is having a class on Wed. Oct. 21 for FREE on Smart phones. If you have been thinking of getting a new phone this session should help you make a decision about what phone to choose. They will present an all encompassing view of the various operating systems available for Smart Phones whether I-phone, Blackberry or Palm. They will review the strengths & weaknesses of various systems and the phone that use them, which PDA will suit you best and how they can be used to enhance your business.
Mike & Doc discussed the many good and bad things with the different types of phone.
There is another class at the board on 10/22 on foreclosures & REO’s. Doc talked about how to do a CMA on Realist. Before going out on a listing appointment you might want to do one in Realist, MLS & Zillow and use all the data to make your best judgment. The CMA from Realist picks up FSBO’s that MLS would not but MLS gives you much more information like condition, features, etc. With Realist also you need to be careful and watch the date the last data was uploaded. Don’t overprice your listings. Even if they sell at a higher price doesn’t mean they will close. Banks today will not let buyers overpay. Ask your buyer to remove all trinkets from the home. When buyers come thru they are too distracted looking at the trinkets and not looking at the house. They need to make their home look like a model home.
Tuesday, October 20, 2009
New OHFA loans for recents grads
From Chris Stevens, CBM
We will soon have access to OHFA money so I thought I would go ahead and send this information out. Fingers crossed we are looking at early next month to have this money. If you read this program offers a 2.5% towards the graduate’s down payment or closing costs. The interest rate on this particular program today is 5.50% for a 30 year fixed rate (a bit higher than what a market rate would be but the object is to keep Ohio grads in Ohio).
INFO from OHFA:
GRADUATES CAN NOW OBTAIN FUNDING TO BUY HOMES THROUGH NEW ASSISTANCE PROGRAM
COLUMBUS — Ohio's residents who have earned a college degree now have a new option for getting the financial assistance they need to purchase a home. The Ohio Housing Finance Agency (OHFA) today is announcing the Grants for Grads Program that gives borrowers 2.5 percent of the purchase price of the home to help with down payment and closing costs. Grants for Grads was established through the state's biennial budget in July 2009 as an effort to reduce the number of students leaving the state upon earning their degrees.
"By offering the program, we can better position the state to meet the needs of future graduates as they make plans to build their personal and professional lives in Ohio after college," said Ohio Governor Ted Strickland. "Retaining educated and qualified graduates will also help to attract new jobs and prevent others from leaving the state."
Participants must have graduated from an Ohio high school and apply for the program within 18 months of earning an associate, bachelor's, master's, doctoral or other postgraduate degree. Funding will be awarded as a second mortgage loan that carries a zero percent interest rate and is forgivable after five years. Homebuyers who move out of Ohio prior to the five-year time period would be responsible for paying a portion of the assistance back to OHFA.
"We look forward to working with talented graduates to assist them in achieving their homeownership dream as they begin the next chapter of their lives," said Doug Garver, Executive Director of the Agency. "By working to keep more of our homegrown talent in the state, we can continue to strengthen our communities."
Certain income and purchase price limits do apply and all homes must be used as a primary residence. Additional information for graduates interested in Grants for Grads is available at www.ohiohome.org.
Chris Stevens
Coldwell Banker Home Loans
513-226-2235 (Cell)
1-856-917-1347 (E-Fax)
chris.stevens@mortgagefamily.com
We will soon have access to OHFA money so I thought I would go ahead and send this information out. Fingers crossed we are looking at early next month to have this money. If you read this program offers a 2.5% towards the graduate’s down payment or closing costs. The interest rate on this particular program today is 5.50% for a 30 year fixed rate (a bit higher than what a market rate would be but the object is to keep Ohio grads in Ohio).
INFO from OHFA:
GRADUATES CAN NOW OBTAIN FUNDING TO BUY HOMES THROUGH NEW ASSISTANCE PROGRAM
COLUMBUS — Ohio's residents who have earned a college degree now have a new option for getting the financial assistance they need to purchase a home. The Ohio Housing Finance Agency (OHFA) today is announcing the Grants for Grads Program that gives borrowers 2.5 percent of the purchase price of the home to help with down payment and closing costs. Grants for Grads was established through the state's biennial budget in July 2009 as an effort to reduce the number of students leaving the state upon earning their degrees.
"By offering the program, we can better position the state to meet the needs of future graduates as they make plans to build their personal and professional lives in Ohio after college," said Ohio Governor Ted Strickland. "Retaining educated and qualified graduates will also help to attract new jobs and prevent others from leaving the state."
Participants must have graduated from an Ohio high school and apply for the program within 18 months of earning an associate, bachelor's, master's, doctoral or other postgraduate degree. Funding will be awarded as a second mortgage loan that carries a zero percent interest rate and is forgivable after five years. Homebuyers who move out of Ohio prior to the five-year time period would be responsible for paying a portion of the assistance back to OHFA.
"We look forward to working with talented graduates to assist them in achieving their homeownership dream as they begin the next chapter of their lives," said Doug Garver, Executive Director of the Agency. "By working to keep more of our homegrown talent in the state, we can continue to strengthen our communities."
Certain income and purchase price limits do apply and all homes must be used as a primary residence. Additional information for graduates interested in Grants for Grads is available at www.ohiohome.org.
Chris Stevens
Coldwell Banker Home Loans
513-226-2235 (Cell)
1-856-917-1347 (E-Fax)
chris.stevens@mortgagefamily.com
Friday, October 16, 2009
Chris Stevens new numbers
I am getting rid of my phone with the number 477-9306…it is just too hard to juggle 2 phones so I am going to consolidate to just 1. I just dont want you to not be able to get in touch with me if you need too. My other number incase you do not have it is below or 513-226-2235.
Thanks so much!!
Chris Stevens
Coldwell Banker Home Loans
513-226-2235 (Cell)
1-856-917-1347 (E-Fax)
chris.stevens@mortgagefamily.com
Thanks so much!!
Chris Stevens
Coldwell Banker Home Loans
513-226-2235 (Cell)
1-856-917-1347 (E-Fax)
chris.stevens@mortgagefamily.com
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