Stephanie's Blog

I recently had to deal with a bank on a foreclosure sale and the red tape and duct tape and rules and restrictions imposed by that "seller" made my buyers' first home purchase a roller coaster event. 

Everyone knew ahead of time it could be rocky and that the risk is high when purchasing a foreclosure.  I know myself from when I purchased my first foreclosure in 2002.  However...in all fairness to my buyers, the "seller" took a very long time to respond and created such impossibly tight deadlines that my buyers were unable to meet, that we were unable to close on time. To make matters worse, the "sellers" wanted to impose late fees for not closing on time.

This is what happens when we deal with a third party who is not a living, breathing entity.  Someone with a heart would understand that the buyers have shown due diligence and would take into consideration the effects imposed upon the buyers, the lender, the inspector, the appraiser, the title company from requesting such tight deadlines.  Meanwhile we try our best and it appears it is still not good enough because unfair fees are threatened upon the buyers.

I showed 9 properties last week to one set of buyers.  In the end, only one was not a short sale or foreclosure, though it was still a distressed seller.  I look forward to returning to a market where sellers are true owners and where the heart is involved in the transaction.

Today we are faced with challenges not normally faced in traditional real estate transactions.  We as agents strive to do our best but so many unexpected turns and twists arise.  My hope is that my buyers will not look at this experience as a sole reflection of my service commitment to them, but that they will look at the entire picture and realize that we did the best we could with each given scenario. I wish them well, they WILL get to closing and I know it in my heart. 

We're almost there!

I've often handed over my business card this year feeling it just didn't serve the purpose I wanted it to serve. Going online to order new custom business cards I learned that other people are running into this very same thought. It leads me to the concept of the business cards for social media users. And so I begin my quest of plea to Better Homes and Gardens for a template designed for me to add some of the following information:

• My Twitter handle
• My blog address
• My Linkedin account
• My Website
• Cell phone
• Fax number
• Office address
• Email address

The reasoning behind this is, every time I've handed out my card it's been to someone I'd like to invite to get to know me better.  I've found myself trying to handwrite my social media destinations, or some words to google about me so they can look me up. At a listing appointment recently I found myself doing the same thing.

I'd like a card that can send people to places where they can find me. They will have access to any of my contact information by doing so. It would be great if a new template could be designed for the Better Homes and Gardens agents can order these cards:)

This is the first year in the 8 years I've been in real estate that I've been inundated with some of my favorite clients, the first time buyer. They are coming out of the woodwork from every angle and tend to share some common traits (though this is a generalization of course) :

1) They are aware, internet savy and have done their homework. They sometimes arrive with so much information received from the internet as they struggle to find solid ground through some of the most challenging transactions I've had to face with first time buyers in 8 years.  It can be so daunting for buyers to take in all that information when it arrives uncalled for at times.  Categorizing the information and tapping into in when needed would be helpful but often isn't possible given they have never bought a home before and are still making sense of the process and steps involved.

2) Their home buying decisions are often the first and largest decisions the young couple has had to make together. As they explore new territory and work hard to arrive at a compromise, they also juggle finding time to speak together face to face, sometimes after the kids are in bed, if they have children.

3) They seek the help of friends and family before making a move. Advice is dished out to them left and right and they are well taken care of by these people to keep the buyers from making the same mistakes they once made.

4) They well qualify the property and make sure to understand their position once they see the complexity of the transaction.  Often they come cautious and curious.

5) They often have young families and so they have a big heart and understand that I come from the same place. Our schedules mesh together as best it can given our families' needs and, for the most part, they understand that and I also make accomodations to meet with them when they're available. I'm only human and there's a point where I just can not become superhuman for anybody, but I try and I think they see that. Weekends and evenings are usually best times for showings with first time buyers.

Because I understand this about the first time buyer, though I can't say I understand everything about them, I embrace my work with them toward their first real estate purchase.  It becomes a very rewarding experience for both of us and I look forward to several years of friendship afterwards.

www.stephaniejacques.com

I've had my Keene,NH region real estate website up for almost one year now. I set it up through Realtysoft last year and have been adding to it, modifying, and gathering stats all along. The question I have to ask myself now, as resubscribing time is drawing near, is "What does my website bring me and how do I measure it's success?"

To answer this question, I'd have to track the number of leads I receive from buyers and sellers. Furthermore I'd have to determine how many of those convert into an actual client who then closes on a property.

But there's more to it that keeps me interested in renewal for another year. My website is a portal for the multitude of web presences I keep, Twitter, Facebook, Linkedin, Ning, and my Activerain blog to name a few. Then there's a demo of a Youtube video and a virtual tour I can do for my sellers' properties. By giving out my site address, clients can prequalify ME.

It's not a ratio of number of hits on my site to number of converted clients, necessarily. It's the ease and comfort that visiting my site and my social media sites gives to prospective clients. A client may arrive as a referral from someone. During my initial phone conversation to schedule our first meeting, I invite them to learn more about me online, and they do.

Without question I will renew my Realtysoft website next year. If anyone is in the market right now for a website of their own, I'm happy to answer questions about the level of service and level of ease I've received from Realtysoft. In exchange, tell them Stephanie Jacques sent you.

I recently attended REBarCamp in Boston, MA where I was finally surrounded by other Realtors who are "getting it" or at least, trying real hard to "get it". What am I talking about? Social media of course.

My favorite break out session of the day was on Twitter. Presenters were Twitter's "Twitterqueens" who gave a great basic introduction and examples of how Twitter can be applied.  I left there with a new perspective on using Twitter. 

After the presentation I decided to qualify who I follow a bit better, and to seek out people from my region more proactively through searches. I learned about hashtags and began thinking about how I might use them in real estate:

1. The announcement of open houses could be provided with a link and the hashtag as a regional phrase such as "MasielloOpenHouses" so that people will be able to recieve the information about open houses quickly, before press or even website updates

2. A hashtag could be created per property and status updates can be posted.

3. New listings could be broadcasted as links distributed through Twitter with a hashtag of "#new(town)listings".

The concept of this is beyond easy to grasp for the beginner Twitterer. HOWEVER, the opportunities are endless.

I will be discussing more on hashtags and Twitter at Hannah Grimes Center (Keene, NH) in August in a roundtable discussion.

www.stephaniejacques.com

The following is a list of our upcoming open houses for the weekend of June 27-28, 2009

for the Cheshire County, NH Region.

For additional listing information please visit The Masiello Group Listings 

and enter in the MLS number listed beside the property below.

Saturday 6/27

9-11pm:

Forest View Estates, 28 Owens Dr. Swanzey $147,000 MLS 2779999

11-1pm:

210 Fourth St. Rindge $449,000 MLS 2779018

10-11:30:

97 Highland Circle Swanzey $379,900 MLS 2780045

11-12:30:

23 Green Acres Rd. Keene $169,900 MLS 2780201

11:30-1pm:

149 South Lincoln St. Keene $199,900 MLS 2745370

1-3pm:

41 Streeter Hill Rd. Chesterfield $269,900 MLS 2781427

39 Base Hill Rd. Keene $239,500 MLS 2776689

1:30-3pm:

153 Dean Farm Rd. Jaffrey $199,900 MLS 2755489

29 Highland Dr. Rindge $189,000 MLS 2774257

1:30-3:30pm:

72 Taggart Circle Rindge $248,900 MLS 2755503

2-4pm:

870 Keene Rd. Winchester $94,900 MLS 2743228

Sunday 6/28

10:30-12:30pm:

65 Timberlane Dr. Keene $279,900 MLS 2769302

12-1:30pm:

44 Robbins St. Hinsdale $18,900 MLS 2750284

11-12pm:

17 Hillcrest St. Hinsdale $82,500 MLS 2749252

1-3pm:

Forest View Estates, 28 Owens Dr. Swanzey $147,000 MLS 2779999

2-4pm:

129 Westport Village Rd. Swanzey $314,900 MLS 2779703

In this culture shaped by a desire for quick access to information how many agents are doing CMA's (Comparitive Market Analysis) with the sellers in their homes?

I began doing this last year and have been able to speed up the process of the listing appointment. This eliminates the gap caused when the agent leaves the home to "research" the property. The appointment still could be a two stop listing appointment, or it could become a one stop very simply.

If sellers are interviewing other agents and you want to exemplify to your sellers your timely response time and transparent methods of working, than it's a great way to show this to your potential sellers, since we have nothing to hide when carrying out a CMA! The facts are all there in front of us!

Transparency is one area I'd like to focus on. How can you be transparent in real estate? Anytime I have a task to carry out for a seller or buyer I consider if what and how I am doing it could be done in front of the client themselves.

In most cases, the clients would not have the time to sit through some of the tasks we face when working behind the scenes on a transaction, but is the method we use a practice of transparency? I feel that the changing culture and Gen Yers are leading us to answer that as "Yes, it is" and I will continue to do CMA's in the clients' homes as long as they have a computer and internet access, which most people these days do have.

www.stephaniejacques.com

I've recently begun working with several new first time buyers looking to take advantage of the tax credit. It's nice to know this section of the market is still active and engaged. If the tax credit had been available to more people, even if just for a limited period, just think about what this could create?

As a result of the government pushing FHA loans, the already limited FHA certified appraisers in our region have become so busy our financial commitment dates must be extended back sometimes 2 more weeks. FHA's ability to process the loans in time for financial commitment has also needed to extend, as more jobs are created to fill the gap and help things run smoothly again. I'd say this is a great sign and something long awaited by many.

I get asked all the time "How's the market?" and often find people are most interested in hearing the numbers. Today I put together a comparison over 3 years during the same 30 day period to demonstrate just what's happening in this market:

5/8/09 to 6/8/09, 51 closings in Cheshire County (residential only), Average days on market = 186

Average selling price = $210,793

5/8/08 to 6/8/08, 67 closings in Cheshire County (residential only), Average days on market = 130

Average selling price = $282,111

5/8/07 to 6/8/07, 71 closings in Cheshire County (residential only), Average days on market = 180

Average selling price = $263,938

Today, 6/8/09, there are 96 pending residential properties in Cheshire County. The average days on market for this group is 84 days! Though not all will close, the market has shown an upswing of properties going under contract recently. One interesting figure to compare is the average LISTING price of those properties is approximately $184,000. 

 www.stephaniejacques.com

"Rise" ...for Baby and Family is a local non profit located at 147 Washington Street in Keene, NH. They provide early support services (speech, occupational and physical therapy) to families of children under the age of 3 as well as operate a childcare center.

Last night I attended, as a member of the board, the annual fundraising event for "Rise".  The event is called "A Spirited Taste of Summer in the Shadow of Monadnock" (otherwise well known as "The Wine Tasting") held at the Keene Country Club. The evening brings together some of the region's finest restaurants (Blue Trout Grill, Brown House Bakery, E.F. Lane Hotel & Thyme to Dine Catering, Elm City Brewery, First Course Catering, Keene Country Club, Kristin's Bistro & Bakery, Luca's Mediterranean Cafe, Margarita's Mexican Restaurant, Michele's Ristorante, Nicola's Trattoria, Pappagallo's, Sunflowers Cafe and Catering, Thai Garden, The Stage Restaurant, Tony Clamato's Ristorante, and Unbridled Chocolates) with a variety of wine vendors from across New Hampshire.

Executive Director of "Rise" felt this year's event was the most successful ever.  Everyone seemed to enjoy themselves in this relaxed atmosphere of community, food and drinks. 

There was also a silent auction for tickets to a Red Sox game and several locally donated raffle prizes including a $500 gift card and Red Sox tickets for two.  The event was well attended, typically selling 300 tickets.  This year there were more vendors which eliminated long waits for guests to sample foods or wines.  Anyone ordering a bottle of wine (or a case) at the event received an additional discount.

"Rise" is always looking for support from the community, while offering early support services and providing community wide education programs. "Rise" also offers high quality childcare with both full and part time scheduling available.  Any child would be fortunate to be affiliated with "Rise".  My own children attended "Rise" childcare program and reaped benefits from this gentle, nurturing, natural environment.

For more on "Rise" or to volunteer or make a donation, please contact Toni Ellsworth, Executive Director, directly at tellsworth@riseforbabyandfamily.org .

www.stephaniejacques.com

I've been on the search for a new riding mower. I've learned a lot in the process of shopping for one. Along the way I've heard time and time again from local service repair shops that they just don't make the mowers like the used to. The quality has been pushed aside in effort to produce a mower that's affordable and under $2000. Even worse are the comments given about mowers sold at department stores.

So I took that information and began looking around at mowers, really looking. I found that the quality of our old Cub Cadet riding mower greatly surpassed those of a lot of the newer models, though it needs some tuning up. If we were to replace our mower anything soon, we'd be spending over $3000, maybe even up to $4000 to find one of equal quality.

This must NOT happen in our industry!  During these times when lending is stricter, buyers' remorse is greater, and transactions are generally more challenging to close on a real estate sale, it's even more important for our clients to receive top quality service they deserve and not cut corners.

Last year I'd hear from a buyer that an agent from another company asked to be picked up at the office since the price of gas was so high. To me, this does not convey the consumer centric model we want to embrace. It also does not give the message that this agent was going to go the extra mile to provide quality servicing to the potential client.

I've carved out a niche market among first time buyers and sellers needing to do a short sale.  These, in my opinion, require a high level of maintenance but are most rewarding. It is my hope that years down the road one of them will remember me for the extra effort placed on their home sale or purchase. Whenever I get a referral or return client I am honored, and that is worth the extra effort.

www.stephaniejacques.com