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Doug Emde's Advice

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  • 22 Contributions
  • 0 Best Answers
  • 1 Helpful

Doug Emde wrote:

July 2010 existing home sales fell by 27.2%. The worst since 1995. Is it still a good time to buy?

Answer
Each market is different, so saying that homes are overpriced isn't true.  One reason to consider buying now is the record low interest rates.  In our society we buy houses based on what we can afford in the way of a monthly payment, but our thought process isn't there yet.  Our thoughts are that we want to get the best deal, so we want to time the market to get the home when it reaches its lowest price.  In reality, if the market drops the interest rates are likely to rise meaning you can afford less house.  Look around at your market and visit with a Realtor there.
August 24 2010
(0)

Did the 1st Time Home Buyer Credit Help of Hurt?

Response
It moved sales to earlier in the year.  What I think is needed is some incentive for move-up buyers.  That would have a double effect on listings and sales.
August 22 2010
(0)
Appraiser's Geographic Competency
Has anyone had any luck at getting rid of appraisers from outside of your geographic area?  We've had some that drive from small towns 2.5 hours away to a market they have no knowledge of.  The HVCC complaint form from Fannie specifically says that it doesn't accept complaints about geographic competency.   What are your thoughts and strategies? 
August 22 2010
(0)

Which is better? Blackberry, Iphone or HTC Evo?

Response
Hey Jennifer!  If only we had electronic lockboxes in the technology center of Oklahoma........
August 22 2010
(0)

I moved out after 3 mo lease but lessor says I owe 1 mo more for no "notice" to vacate??

Answer
Typically that is the purpose of the lease.  The lease ends specifically on the ending date.  You'll need to check your state's landlord tenant act and see if you have the ability to waive your rights when signing a lease.  Talk to an attorney.
August 22 2010
(0)

Has anyone else been the target of an attempted Scam?

Response
We've had listings posted to Craigslist as homes for rent.  They strip our photos and then try to collect rent under the guise of being out of the country temporarily.  That seems to be the overriding theme, out of the country email addresses.
August 19 2010
(1)

I can't get agents to come to company meetings.

Answer
Probably 30-35 of them are dead weight anyway, so strategically pick the ones you want to keep and strategically fire some.  Now getting new agents is the real question.  In this economy we aren't having many people entering the business right now.  How do you recruit new people?
August 19 2010
(0)
Which is better? Blackberry, Iphone or HTC Evo?
I've used the Crackberry for years, but with the evolution of our MLS going mobile I think I need a better internet phone.  I've got the BB Bold.  Have heard that the Evo is the best, what do you think?
August 19 2010
(0)

Foreclosures/Short sales bought by Realtor's & flipped cheap. How to overcome?

Answer
That might be "the market" for your neighborhood.  Unfortunately with the rash of foreclosures there isn't much you can do.  If a buyer can buy house A for $325,000 or House B for $275,000 and they were the same age, size, builder, etc which one are they going to buy?  As an appraiser, we might ignore it if there is just one flip in the neighborhood, but if it is a recurring theme, then that sets the market.
August 19 2010
(0)

If you sell a home in a short sale, is the owner still responsible for the balance of the difference

Answer
Depends on the Lender.  One thing you need to be aware of though is that you might receive a 1099 at the end of the year for $35,000 and would owe the taxes on that amount if you are forgiven the debt!
August 19 2010
(0)