Profile picture for Whit Suber

Whit Suber's Advice

Contributions are sorted newest to oldest.

  • 135 Contributions
  • 1 Best Answers
  • 117 Helpful

Whit Suber wrote:

5 most important factors to increase net return in today's market
What are the five most important things that can be done to increase net return in today's real estate market?Homeowners are asking what can be done to increase their net in a market that is still way down.  It is estimated that around 11million homeowners are still "underwater" on their homes (Case-Shiller/RealtyTrak).  And these estimates are based strictly on gross market value to debt.  These estimates don't even calculate the costs and fees associated with selling.  So, what can today's seller to do increase their net?
January 22 2013
(0)
Rampant Rent SCAM
What do we do about the rampant "for rent" scam?  For those unfamiliar, thousands of homes for sale are appearing "for rent" on multiple real estate search engines.  They the photos and description to offer the homes for rent then ask for a deposit to be provided to an offshore account.  Tho anyone would have to be an idiot be suckered on this, it is a pain in the butt for agents and homeowners.  And what angers me is law enforcement most often tells the public to complain to the listing agent.  There is nothing we can do about it.  I have about 20 current listings in the scam.  I have defaulted to not even telling my clients when it happens as there is nothing they can do.
January 12 2013
(0)

What are the responsibilities of a seller/agent?

Answer
First, if "under agreement" means UNDER CONTRACT, read your contract.If "under agreement" means I don't have a contract and I have no clue what I'm doing; then, you need to grow up, finish high school and then think about buying houses.Second, hoping you do have a contract, many REO'd property contracts leave you little remedy to force the seller to do anything.  Unlikely you would be forced to buy if damage occurred between contract and closing, but you may not be able to force repairs.Read your contract.
January 12 2013
(0)
Are Agent Open Houses a waste of time?
I've been highly successful in real estate for well over 20 yrs.  Over the past several years (the bust years) agent open houses (agent tours) have appeared to become the absolute focal point of many agents' marketing plan.  I think they are totally useless.  They have always been around, and I don't they are harmful.  But, IMO they are a perfect example of the kind of useless junk we do strictly for the purpose of making sellers think we are doing "something."   This type of "something" often then morphs into things we as agents feel we must do, forgetting that it really has no effective purpose.  I think these things have no value.  What do you think?
January 12 2013
(0)

Can we get out of this contract?

Answer
Two things, First, consult an attorney. Second, in fairness you should forfeit your $1000. You've tied up their property. New job, great news. But think of the Seller. They've been played for at least a grand. Give it to em. Enjoy your new job.
October 18 2012
(0)

We have our home FSBO and wondered how important it is to be on the MLS? Is it worth the money ?

Answer
The most important thing about MLS is that the information is fed to sites like Zillow.  Its power as a hub for agent information has all but disappeared.
July 11 2012
(1)

Can i sell home after owning for a little over a year with out loosing a lot?

Answer
Very unlikely.  If you hire an agent charging a traditional fee, you are going to have to sell for about 108% of what you paid to break even.  More if you add in the cost you paid when you bought.  If you do realize a gain, you will have to pay taxes on that gain.
July 10 2012
(0)

How much does a home appraisal cost?

Answer
$200-$450
July 10 2012
(3)

What can I do about an a/c that went out on 2nd day of move in?

Answer
How old is the unit? 
July 10 2012
(0)

Unethical, Illegal, or Just Par for the Course?

Response
Reserving judgment, if the property is not listed in MLS, there is no "cutting your agent out of the deal"   Only cutting your agent "into" the deal.I'm a Broker and I am often finding my agents and others walking into unlisted property with a fool's assumption that they will get paid.Your agent should have established a fee arrangement in writing before showing the property.I'm not supporting the behavior of the Seller or their agent here, but your agent needs to understand that they are getting paid a commission, not a tax.  Without an established fee agreement, the Seller or the Seller's Broker doesn't owe your agent anything.Now, Michael is right.  If you signed an agreement with your agent you now want to read that carefully.  Many Buyer Agency Agreements require you to pay your agent a fee under these circumstances.9 out of 10, if you stand firm with your agent, letting the Seller and Seller's agent know that you will not buy without your agent, the Seller will require their agent to split the fee.But your agent made an error here.  Always know your fee before showing the property.  Always.
July 10 2012
(0)