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LaPorte, IN Foreclosure Super Tour - Feburary Results- BUYING HUD HOMES

The Super Tour was another success!

Century 21 1st team, inc in LaPorte, hosted it's monthly Foreclosure Super Tour.  A tour of 4-6 REO's, Foreclosures, Fixer-uppers, mulit-units etc....OPEN AND FREE TO THE PUBLIC.

Below is a 1 minute clip with photos of the tour.

http://www.visualtour.com/shownp.asp?SK=13&T=1811889

The brief session before the tour focused on "How to buy a HUD home" We gave valuable information to the tour buffs, showing them the following:

  1. How to find HUD homes online
  2. The difference between Uninsured and Insured properties
  3. How to view HUD properties
  4. How to bid on a HUD home
  5. The contracts involved
  6. Earnest money and types of loans

OUR NEXT TOUR IS SCHEDULED FOR SATURDAY MARCH 14TH AT 10 AM AT:

Century 21 1st team, inc  245 W Johnson Rd, LaPorte, IN  46350

219-324-2121 for information or e-mail foreclosure@c211stteam.com

3 commentsTheresa Prim • February 26 2009 09:09PM

Accepted short sale after only 10 days! CLOSED DEC 2ND

Okay, I have an accepted offer on a short sale listing after only 10 days! YES, less than 2 weeks!

The bank is Citimortgage and I am in a redemption state. Basically, the owners have a 6 month right of recemption period after the sherriff sale. I sent everything the bank asked for, along with a net sheet, and the phone rang today with the usual "out of area" on the caller ID. Citimortgage is faxing me an accepted approval on the offer, which is 45k less than what the owners owe.

Countrywide on the other hand, has taken 10 weeks to make a decision!! The buyers are holding out, waiting patiently, but I never realized that I had that much patience.

Stay persistant with your offers and call back a 2nd time and talk to another customer service rep at the bank if you have to! I have noticed that you will get multiple answers for the same question.

CLOSED ON DEC 2ND. It went very smoothly, and the lender received $12 more than they expected. All the taxes were paid in full, everthing cleared. It's very important to know what fees are going to pop up on the HUD1. That way, you don't fall short at the closing.

FOR YOU SHORT SALE SPECIALISTS OUT THERE, THIS WAS A CITIMORTGAGE LENDER.

ADVICE: GET AN E-MAIL ADDRESS OF THE NEGOTIATOR!

 

10 commentsTheresa Prim • November 05 2008 07:15PM

THE REAL ESTATE AGENTS PRAYER

With the slow market, all we can do is turn to prayer. This is cute:

 

THE REAL ESTATE AGENTS PRAYER

Dear Lord,

I ask for patience with bankers who think buyers aren't qualified,

with buyers who think houses are overpriced,

with sellers who think homes are underpriced,

and with appraisers who seem to want to ruin every sale I make.

Help me to understand why the Board of Realtors and the franchise feel they need a

percentage of every sale I make.

And, Lord, would you help me convince the IRS that I am not their sole support?

Give me the wisdom to know which car is good enough for clients, yet not so good

that clients will think I make too much money.

And if I attain a million dollars in sales,

help my clients understand that I don't have the million in my pocket.

Amen.

 

copyrighted but Used with Permission

 

0 commentsTheresa Prim • October 14 2008 07:23AM

Make Driving your "NEW NORMAL"

Everyone is always talking about the price of gas. Remember when the weather was always the topic of conversation? Now it's the price of gas.

I have tried to cut corners and minimize drive time to save money. If I have to run to Michigan City for a showing, I always try and find another stop to make, whether it be putting up a flyer box, or lockbox, or dropping off a packet.

I am now finding that having my real estate license in both Indiana and Michigan, that I am all over the place. I could be in Sawyer, Michigan in the morning and Union Mills, Indiana in the afternoon. If I had a cup of hot green tea and an ottoman, my car would feel like home. I love it though....I call it "working in the field". Appointment after appointment and stopping at the office in between.

It has become my "NEW NORMAL" Driving all over Berrien County and LaPorte County in my paid off Red Grand Prix that I bought 6 months after becoming an agent.

I thank all my customers and clients for keeping me "in the field". I'll see you soon!

1 commentTheresa Prim • August 07 2008 09:11PM

Agents: GIVE ASSURANCE WITH EXPERIENCE

 

To gain more loyalty with your clients, your MUST give them assurance through experience. Mr. Webster defines the word assurance as: a positive declaration intended to give confidence, freedom from timidity, self confidence, and the belief in ones abilities.

Does that mean that you have to use your past real estate experiences? No, absolutely not. When I first began my career as a Realtor, I was easily intimidated by top producers and agents who were busy showing homes, talking on the phone and meeting with clients. I desired to be the agent who was headed out the door for a scheduled closing.

I learned from those agents. Not how to perform a CMA, or how to close the deal, but from what they experienced. I listened to them talk about the easy transactions, but more importantly, I paid attention when a deal went bad. I soaked up the information like a dry sponge.

It is not necessary to have the experience in real estate to be an experienced agent!  You don't need to be a top producer or a multi-million dollar agent. All you need is the ability to listen. You need the desire to rub elbows with those around you who are busy.

In today's society, people need assurance. Let me give you an example. Say for instance you decide to replace the flooring in your kitchen, but you have no idea who to call. Your first instinct is to go to the newspaper or to ask a friend or relative who has had new flooring installed. You ask questions like: Were you happy with the floor? Did he make any mistakes? How long did he have your kitchen tore up? How much did he charge? Those very questions are asked to ensure that you get quality work right?? And that you end up happy with your kitchen floor. You wouldn't choose to open the phone book, close your eyes and point to the next contractor who will be tracking into your house, would you?

My point is, that, as real estate agents, better yet, real estate professionals, we have to give our customers assurance. Every transaction in real estate is slightly different. Therefore, 10 transactions a year won't give you enough experience to be a successful agent. Would you agree though, that 100 deals a year would make you successful? I do. Even a brand new agent can learn to be successful, with 100 transactions worth of experience. That can be had simply by listening.

Listen to the experiences of your fellow agents. Keep your eyes and ears open. Use those experiences when talking to a prospective client. Reassure a buyer, without over promising, that everything will be fine.  Use phrases like "I understand that you are apprehensive about ........but in my experience....and give them an example" or "Don't worry about that, many buyers think the same way you do..........but in past experiences........and give them example" They won't care if you just started to sell real estate as long as you know what you are talking about with self confidence.

The title of this article is GIVE ASSURANCE WITH EXPERIENCE. If you want to wait to do 100 transactions before you start reassuring your clients that you are worth their investment, then we can rename the article, "Give Assurance with Your Experience". But if you want to begin your 100th transaction right out of real estate school, then open your eyes and ears and use their experiences to better your career. "Give Assurance with Experience" Their experience.

 

 

 

1 commentTheresa Prim • December 12 2007 07:36AM

September October Newsletter for LaPorte County INDIANA

 

 Frightened by the Media?

Does the media got us all scared? Every time I watch the news, open the paper,  read my e-mail, or take a call, it seems as though  I listen to someone talking about the current real estate market. It is true, Indiana ranks 2nd with the number of foreclosures for the year 2006, with Ohio being 1st, but is it cause for alarm? I don't think so! Due to this unfortunate event, lenders are now requiring homebuyers to make smarter decisions about buying a home. We didn't have any idea that  Midwestern jobs were unsteady. And we certainly don't understand why the sub-prime lending market plummeted leaving our current buyers in the dust. But we can look ahead to the future. Some ideas I have for all my customers and past clients.... Stay in tune with your credit report! Get a copy, look it over, and dispute anything that is a mistake. If you've had a past due bill turned over to collection, then get on a payment plan and keep to your budget. It is a little harder to buy a home now, so stay plugged in. For the future investor.....I feel now is the time to buy a small home to use as a current rental, and to sell in the future for a profit, after the market bounces back. Rentals are in high demand due to the rising number of foreclosures and the number of jobs created at the Four-Winds Casino. For the first-time homebuyer.....FHA is still the way to go. They were not affected by the hit and rates are sitting around 6.75% now.

As for some LaPorte County Statistics- From Jan 1, 2006 through  Sept 15, 2006, there were 911 sold residential homes in LaPorte County. The same period in 2007 brought 839 sold homes. The median price increased by $4100, and the best price range to sell at this year, to receive the most amount of buyers is between 100k and 120K, in comparison to the 80k to 90k price range last year.  Peace and Blessings to everyone.

 

 

4 commentsTheresa Prim • September 28 2007 01:23PM

July News in LaPorte County, Indiana

  My July, 2007 Newsletter.......

Being inside of the local real estate market for almost 6 years now, I have seen a lot of changing trends. If you think of the market trend much like a fashion trend, it comes and goes. The current market is slower than in 2006, which leaves many sellers wondering.  In comparison to last year, the sales are down in the first half of the year by approximately 6% and the mortgage interest rates are slightly higher...but there is GOOD NEWS!! The average sale price of a home sale has improved in our local market by over 5% from $136,000 to $144,000, although it is taking sellers slightly longer to sell their home from last year. Days On Market, (or DOM in the real estate world) has risen from an average of 95 to 102 for the first half of this year. What I really found intriguing in my research is the difference in selling percent to list between homes with 2 versus 3 bedrooms It seems as though 2 bedroom homes are only getting an average of 89% of their asking price, whereas 3 bedroom homes are selling at 96% of the list price! What does this mean? It all boils down to a little patience, for both buyers and sellers. Is it higher gas prices and busy lives? It's hard to tell, but our community is a wonderful place to live and I am positive that the market will only improve in the upcoming months!

 Article written by: Theresa Prim     All information deemed reliable, but not guaranteed. Statistics taken from gniarmls.com and have been interpreted by Theresa Prim.

 

0 commentsTheresa Prim • August 08 2007 03:02PM