Stephanie's Blog

8/1/2009

28 Owens Drive, Swanzey- 9:00-11:00

34 Robbins Rd, Fitzwilliam- 11:00-12:30

1031 Rte 9, Chesterfield- 10:00-11:30

15 Base Hill Rd, Keene- 12:00-1:30

8/2/2009

38 Sweeney Rd, Keene- 10:00-12:00

104 Lat Lane, Swanzey- 11:00-1:00

28 Owens Drive, Swanzey- 1:00-3:00 (also on Weds 4:00-6:00)

6 Prentiss Lane, Walpole- 10:00-11:30

I feel almost sick admitting it, but the truth is I think I love short sale transactions (working on the listing side of course.) They're a challenge, they're a lot of work and time, but I get them and I understand them now and ...of course there is always a level of risk that they won't close YET I still enjoy working with a short sale.  I love the partnership I have working with the sellers on their short sale, and I love the efforts they place into helping me sell their home. This is not easy work for anybody!

After thoroughly screening the seller to understand as clear of a picture as I can, I make my decision on whether or not I should list the property.

By experience, and I've been burnt before, it's important to say "no" when I see that:

1. Either the seller is not capable of handling such a complicated and draining transaction or

2. The position of the loan is such that it will foreclose before I am able to sell it or

3. The primary and secondary loans are held with lenders who are uncooperative from the start

Though I haven't had the experience of working with many higher end short sale properties, I've certainly seen quite a few of the properties below $200K who were great candidates for short sales.

The key is to not fear the bank and to know what you're after before making contact with the seller and their bank each step of the way. It's also important to be open and honest up front with the seller and the bank. I always keep in touch with the bank, let them in on showing feedback received and do regular price reductions until the fish begin to BITE!

www.stephaniejacques.com

Some sellers are choosing FSBO over listing to avoid paying a commission. Problem is they often owe too much on their home and are trying to save a dollar. They may choose to pay a flat fee just to be in the MLS, but don't receive any representation from the agent at all.

Why are they doing this?

Bottom line is "their bottom line"

Homeowners are stuck between owing too much on their home and trying to become their own salesperson / negotiation / transaction manager in the meanwhile to try and save themselves money.

Keene, NH had a HELP-U-SELL business in it's community 2 years ago and they didn't make it. Sellers were coming to The Masiello Group angered they had spent time, energy and money into listing their home in the MLS with HELP-U-SELL and they didn't get anywhere. Shortly after the business was started, it closed it's doors.

The profession of selling real estate is a full time business requiring experienced professionals who pay to keep up their credenials, keep up with the changes in legislation and have access to others in the industry as this is a "connections" business. The more an agent has connections and networks and support, the more value the agent brings to a seller.  That commission is well earned.

Today's market has left me working longer and harder than ever to keep transactions together. When everyone's goal is the same- buyer wants the house, seller wants to sell it- but a ton of red tape gets put in the way, my job is to navigate us through it.

If a seller wants to try it on their own first then come to me, I can't change that, especially for those who need to do it first in order to understand the complexity. I would likely be one of those people if I wasn't in the business of real estate, myself!

I specialize in short sale transactions, which are some of the most complex sales to navigate through these days- no kidding, ask my husband when he sees me at the end of the day working through difficult "puzzles" in my head on how to surpass the new red tape imposed upon my client, but I get them through it.  Short sales are not for the weak at heart, but they are an act of survival, and an act of looking out for the client's best interest.

Trying to sell FSBO to avoid paying a commission will only complicate it down the road if the client comes to an agent desperate to get out of a potential foreclosure situation, having to face a short sale.

Last weekend we remodelled our laundry room and home office.  We hired a contractor, Jean Noel Jacques from Ellington, CT who works so fast it's like hiring 2 for the price of 1. Not to mention his singing while working cracks me up. For over 35 years this guy's high energy, charismatic personality and commitment to providing reliable carpentry and remodeling work has kept him in the business.  I've always been impressed by all the stories he's told me of work he's done and how much he enjoyed getting to know the owners.  (He can be reached at 860-690-3050)

He's been especially entertaining to the stay at home Moms and their children because of his youthfulness and silliness, something children find amusing and entertaining while watching the work of a contractor in their home. On most days one can hear him singing while he works. Mostly it's in french and sometimes it's children's songs from when I grew up. Othertimes he will go outside and roar like tarzan to shake up the neighbors and the homeowner is left rolling in laughter. Where else can you find a contractor like this guy?

Ok, so he's my dad but I have to admit his work ethic was one of the things he passed down to me so I can appreciate his commitment to his work.

What led us to choose to pursue with a remodeling project during challenging times is really the feeling that we want to get some positive energy into our home and do something new to change it a bit. When we always hear negative news about the economy, it brings people down. Now we're excited about our home again and get to redecorate a bit and liven it up.  

Here's the real kicker to get us energized about a remodel project:  http://link.brightcove.com/services/player/bcpid14599858001?bctid=20280908001

Watching this video really got me excited about sprucing up our home a bit. Maybe it will do the same for you too. 

www.stephaniejacques.com

Everyone of us knows someone who has been, or has personally been, affected by this recession in some way or another.  Healthcare issues, unemployment rate, salary decreases and people working for lower wages or not able to find work at all.

I've been affected personally because housing prices have dropped so my income level has also dropped drastically. The number of hours put into closing a real estate transaction has quadrupled. I've recently tried to refinancing my home and the value has, of course, diminished to a point where the loan to value ratio was "not great"... as many of us have realized recently.

As I drove to the bank today I was listening to the Diane Rehms show on NPR and they were talking about, what else, the state of the economy.  It makes me think that this adjustment really needed to happen to correct the high inflation we were in 4 years ago, but it's all so painful for so many- too many.  How could it have been adjusted differently?  Or when what would have been a better point to stop it?  At some point the government should have stepped in before 2005 and raised interest rates a bit. Wasn't that the time, when the market was strong? 

I still think the kinks will slowly be worked out but our country will be left with a lot of mending to do. That, in itself, will be a source for work when we get there. For now, ugh. People are still buying and selling homes. I've had more buyers this year ( I mostly work with first time buyers) than any of the 8 years I've been in real estate. 

I just wish I could save everyone who's financial position is "going down" because of a job loss. The children who are the victims of so much of this stress that is created in a financially distressed family. The health of people in need of medical attention who are now unable to receive it due to inability to pay or loss of insurance. It's so very sad and very unfair. Anything that comes from Obama's healthcare policies may come too late for so many.

For now, I continue to help who I can find a home and pray that they are able to remain in their home as long as they wish. I don't wish upon anyone the loss of a job and, frankly, I know too many who've been affected directly by "the state of our economy."

Am I going through a pre-mid life crisis? Could it be that the inner tugs between what I want for myself and what I think I want for my family are leading to this mini- pre-mid life crisis?

This stage I've entered in my life is altogether daunting and exciting. At 33, I have my family, my real estate career is thriving, and I'm where I want to be...but I'm wanting more.  How can I be wanting more in this culture of cutting back, reducing, eliminating waste, and consuming less?  But I do.

What is it I could possibly want?  I want a place for my growing children to grow up in a neighborhood (but I have a beautiful rural, private country setting right now...isn't that what I've always dreamt for, with my horses in the back yard and a place to ride?) I'd like to see them with friends and a safe place to bike.

What else do I want? High speed internet would be nice.  Is it ever going to come to my street? How did I managed to dive into social media as I have when I can't even get high speed internet? (But didn't I want to be here in the country, without neighbors looking over into my yard...was that the trade off?)

I've gotten lazy about driving back and forth to Keene from home.  So my children are growing and they're involved in afternoon activities now. I love for them to be involved, but sometimes this means driving back and forth from home 2-3 times a day. Wouldn't it be so nice to....wait a minute, I've heard my seller prospects talk about making decisions like this on several occassions lately.

We need to be told to either:

"Be Happy With What You've Got "

or

"Don't Fear The Losses and Look Forward to the Gains"

Until I can choose one or the other, I'll be wondering if this "moving bug" will ever leave me alone and which decision (to stay or to move) will I be most satisfied with, in other words, least regretful of making?

Dr. Rob League of League Chiropractic told me the story of his recovery years ago after his car was hit by a train.  He later decided to go into Applied Kinesiology and Chiropractic work because it was what helped him recover from his serious back injuries from the accident. 

I went to see Dr. League last week after waking up with a sudden neck pain so severe I could not turn my head, nor could I bend over to pick anything up. His wife, a friend of mine, scheduled my first appointment which gave me 40 minutes of Dr. League's time that very day.  He was precise with his assessment and results  were immediate. The pain diminished rapidly after I left my appointment that day. With every hour that passed, I was capable of doing more and more things and had less and less pain.

The treatment was more than just a few adjustments.  He discovered the ways my inner body worked together, some areas worked well together and some areas not so well.

He talked to me about the procedures as he was doing them and explained to me the interrelations between muscle, joints and brain. Because my first visit was in crisis mode, my body was unable to handle a regular treatment, so he was sensitive to the immediate needs while keeping long term goals in mind.

I returned 4 days later with 85-90% more mobility in my neck and very little pain. The treatment that day was different.

During my second visit he identified which joints and muscles weren't pulling their share, causing stress on others. He skillfully worked with tender areas and only adjusted where I could feel there was pain, or "pressure". After the adjustment I was immediately able to feel the difference and the pain in that area be released.

I plan to return to League Chiropractics in the future, if not for crisis ( as I hope I will have no further issues like that painful one I had last week ) then for a continuation of what he impressed upon me today. It was not harmful, it was not forced, it was very informative and it was as though he was able to see with his hands what I could not put into words.

Thank you Rob League.

Stephanie Jacques 

I read this article from Realty Times today on good prospects vs. bad prospects.  If you get a referral from a friend or former clients it's not always going to be a qualified lead, but is that so bad? It is if you're only thinking about the bottom line.

Another way to look at this so called "bad" prospect (I'd like to refer to them as "unqualified leads") is that they can be put on a plan. Help them get all their financial information in order. Send them to a reputable lender who can put them on a plan to save or a plan to pay off necessary debt, or a plan to increase their credit score over time.  It's a little time and work up front but in one year you may have a ready, willing and able buyer.

Furthermore, this buyer may be a great source for additional referrals. Not every referral will be ready to buy now. I've had several great referrals who are not ready to buy now. The time I spent with them on looking at 1-3 houses and speaking with them about the value of having a lender review with them their financial position.

Quality service goes hand in hand with C-A-R-I-N-G.

I often get asked which social media tool one should use over another.  (For a list of common social media sites, scroll down below).   There are so many reasons why it's important to implement several social media tools in your marketing plan, but sometimes too much can be ...well, too much.

I enjoy blogging because I've always kept a journal.  My entire life is in 17 little journals I've kept year after year.  It started when I was in Jr. High.  Needless to say, when I have something to say, I enjoy writing it.

For others, Twitter is nice because it's short, quick and simple.  You can have quick discussions (though brief with only 140 characters allowed) with several people (anyone who is following you can easily receive your messages) and get answers quick ("does anyone know of a local seamstress in Keene, NH?" ... I answered that one because I did know of someone very good in Keene, NH).

Social Network Sites are yet another means for keeping in touch with people.  You want to be less "in your face" about your business side, but can keep up with your friends who often become clients or ideal referral networks for you in the long run.  Several businesses and organizations can also be found on Facebook. Great East Mortgage and Great East Title Services are 2 affiliates who've just joined me on Facebook. But not everybody feels comfortable with these sites.

My recommendation to people is to set up a profile or two at some of the most popular sites and begin playing with them.  If you're not comfortable, then don't post until you have something you'd like to share.  Think about what it is that the people in that community have in common.  Each one is different and you will eventually be able to find one that works for you.

www.linkedin.com (professional network)

www.facebook.com (social network)

www.youtube.com (video log)

www.twitter.com (microblog)

www.myspace.com (social networking)

www.typepade.com (blog)

I always wondered if the selling bank in a short sale would find it more apealing to have the buyer finance the purchase of the property through them.  Would there be a conflict of interest at the time of purchase? Or would it even matter at all?

I was again faced with this today when giving out names of lenders to an out of state buyer. Should this person have the choice of financing with the same bank, or is it in their best interest not to?

www.stephaniejacques.com