Fresh Baked Blog

Preparing Your Home for Sale

March 27th, 2012

When I see the daffodils poking their colorful heads up in our front flower bed (also outside my home office window), I know that real estate “for sale” signs are not far behind!!

One of the most common questions I get is what to do to prepare a home for sale.

Here’s a list of general principles that I pass along to my clients preparing to sell:

  1. Clean, clean, clean. Deep clean the kitchen, bathrooms, flooring and windows. If the lady of the house sees mold or mildew anywhere, it’s goodbye buyers! Consider hiring a maid service to help. One of my favorite sayings is, “Clean sells!”
  2. Paint. Dollar-for-dollar, nothing upgrades the look and feel of a home like the right bucket of paint. I recommend having a friend who knows what colors are hot to help you. Popular colors are taupe and sage. Even repainting the ceilings makes a huge difference.
  3. De-clutter. Roughly one-third of your possessions need to disappear! Go ahead and rent that storage building. The monthly cost will be more than made up by sale price. Think of every model home you’ve ever walked through. If you have small children with all the accompanying toys, dedicate one closet for storage during showings. I even recommend cleaning out the crawl space and garage. This will present more available storage to the potential buyers.
  4. Enhance curb appeal. Work over those flower beds and the front of the house. Fresh flowers, pots and hanging baskets are great. Stand out in the street and look over your home for potential negatives. The new front door returns 107% of the cost. That’s a proven fact. I know a buyer who pulled up to a house and said, “This is the house” just from the curb appeal!
  5. Repair or replace obvious items. Homes that are move-in ready sell much faster than “as-is” properties. You will be severely penalized by the market if buyers can see visibly worn or broken features. It may be worth it to replace worn out carpeting, especially if it is on the main floor.
  6. Monitor smells. You may need your good friends for this one. Homes with pets or teenagers, take notice here. The house should even feel and smell fresh. Open the windows for fresh air to circulate. The basement air needs to feel dry. Consider one Yankee candle on the island.
  7. Make your pets invisible. I don’t mean zap them, but make all evidence of their presence invisible for potential buyers. Place food bowls and liter boxes out of sight for showings. Repair any damage from scratching. Do the best you can here. Not everyone loves pets like we do!

That makes up my “Lucky 7” list. Notice the items NOT on the list. Remodeling the bathrooms or kitchen. Finishing the basement. Have a professional real estate agent consult with you if you are wondering about any major expenditures.

The hardest work for a seller is preparing the home for sale. If you put your heart-and-soul into the process, you may be surprised at the results!

Posted in 2012 News, Baker Realty News, Home Selling Tips | No Comments »

Will the REAL Housing Market Please Stand Up?

March 9th, 2012

Will the Real Housing Recovery Please Stand Up??

I’m going out on a limb this week and predicting a steady housing recovery for 2012.

No crystal ball or tea leaves involved. Here are a few more practical, grounded indicators I’ve been watching:

  1. New construction is starting to come back. I had not sold a new build in three years. Company-wide we’ve either closed or put into contract five new builds in the last three months.
  2. Buy-up clients are showing up again. Most of my business the last few years has been from investors and first time home buyers. But this year I see many new clients with homes to sell and looking to move up in price.
  3. Commercial investment. A number of clients have expressed an interest in buying commercial properties. This seems to indicate a growing optimism in the overall economy.

While these indicators are not scientific by any means, they do seem to hint at a shift in consumer optimism and confidence.

Ongoing record low interest rates combined with low prices have made this a widow of buying opportunity that many are finding irresistible.

Let’s keep hoping that the real housing market recovery has begun!

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David Baker Earns NAR Short Sales and Foreclosure Certification

January 14th, 2012

Buyers and Sellers Benefit from REALTOR® Expertise in Distressed Sales

David Baker earns SFR designationCOLUMBUS, OHIO, JANUARY 14, 2012 — David Baker with Baker Realty Group has earned the nationally recognized Short Sales and Foreclosure Resource certification. The National Association of REALTORS® offers the SFR certification to REALTORS® who want to help both buyers and sellers navigate these complicated transactions, as demand for professional expertise with distressed sales grows.

According to a recent NAR survey, nearly one-third of all existing homes sold recently were either short sales or foreclosures.  For many real estate professionals, short sales and foreclosures are the new “traditional” transaction.  REALTORS® who have earned the SFR certification know how to help sellers maneuver the complexities of short sales as well as help buyers pursue short sale and foreclosure opportunities.

“As leading advocates for homeownership, REALTORS® believe that any family that loses its home to foreclosure is one family too many, but unfortunately, there are situations in which people just cannot afford to keep their homes, and a foreclosure or a short sale results,” said 2009 NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth. “Foreclosures and short sales can offer opportunities for home buyers and benefit the larger community, as well, but it’s extremely important to have the help of a real estate professional like a REALTOR® who has earned the SFR certification for these kinds of purchases.”

The certification program includes training on how to qualify sellers for short sales, negotiate with lenders, protect buyers, and limit risk, and provides resources to help REALTORS® stay current on national and state-specific information as the market for these distressed properties evolves. To earn the SFR certification, REALTORSÒ are required to take one core course and three Webinars.  For more information about the SFR certification, visit www.REALTORSFR.org or call 1-877-510-7855.

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Halloween Horror Stories! Buying a Home without an Agent

October 26th, 2011

I have horror stories galore of home buyers calling the number on that real estate yard sign, seeing a home on their own, and buying directly from the seller or seller’s agent. And the stories are perfect for Halloween because they are SCARY stories!

Single moms buying a refrigerator because it was not included in the contract. Buyers trying to find the air conditioner on that first hot day, only to realize that there was NO A/C in the house. Or that new home owner trying to resell a few years later only to find out they had way over-paid when they bought from the for-sale-by-owner.

All these horror stories could have been avoided. And without the services of an exorcist!

There really is no good reason to buy a home in today’s real estate market without an experienced buyer’s agent to guide you through the process. The market traditions and structures that dominate residential real estate today are clearly stacked in favor of the buyer (a 180 degree reversal from 40 years ago, but that’s a topic for another blog post!!).

Here are ten ways — and there could be more! — that an experience buyer’s agent can help you buy a home in today’s market:

  1. The best deals. Yes, I know everyone has access to MLS data now on countless web sites. But an experienced real estate professional still knows what’s going to hit the market before you do. And they have instant access to new listings whereas it may take a day or two for new listings to trickle onto other sites. By the time you see a new listing online, a buyer’s agent has an offer submitted on behalf of their client!
  2. Consulting services. An experienced agent will know the right questions to ask you to help clarify your search. Our first agent was like that. She asked us lots of probing questions that unearthed our preferences and desires. Even though we had been to countless open houses and spend hours searching online, the first house she took us to has been our home for over 10 years now!
  3. Stress reduction. Your search for a new home can be stressful, exhausting and complex. Who would walk into court and represent themselves? Looks a lot easier than it is! An experienced agent knows the ropes and has seen it all. They have “shot the rapids” many times and will faithfully guide you down river too.
  4. Financing options. Many buyers still think you need a 20% down payment to buy a home. That’s just one of many financing myths that your agent can dispel. In spite off news headlines, numerous avenues of financing area available for buyers today, especially first time home buyers. FHA and VA loans are still offering excellent deals. And not all lenders are created equal. Your experienced buyer’s agent not only knows the best financing options for you, but the best lenders who provide top shelf customer service.
  5. Market value guidance. So you found the perfect house! Awesome! How do you know you are not over-paying? The experienced buyer’s agent is a market expert and can confidently show you what similar homes have recently sold for, making sure you don’t hang yourself for the future by over-paying today.
  6. Inspector recommendations. The worst decision a buyer can make is to skip the inspection, or choose their cousin Billy to do the inspection. Your experienced buyer’s agent will have a list of proven home inspectors who will conduct a comprehensive and thorough analysis of your potential new home. Don’t wind up like the first time home buyers who went to turn on the A/C in their new home only to find out it didn’t HAVE central air!! They skipped the inspection! Oops.
  7. Negotiation experience. There are a lot more contract terms to resolve besides the price. There is closing date, seller concessions, fixtures and appliances, possession, and inspection contingencies to name a few. The experienced buyer’s agent will understand your needs after the consultation, and will know how to structure your deal for maximum benefit to YOU, not the seller! You can save thousands of dollars and avoid significant hardship by having a premium contract negotiated by your agent.
  8. Crisis management. What happens when the appraisal comes in low or the inspector finds those termites? Curve balls are a part of life, but they can cause  many a sleepless night unless you know your options and liabilities. What do you do in each of these situations? An experienced buyer’s agent has been here before. They know how to work through each of these and other crises. You might have to walk away, or you might not. But your agent will know how to keep a level head and manage the crisis through to resolution.
  9. Process management. Closing a real estate deal is like project management. There are countless people, projects and deadlines to complete. The experience agent will be an expert at coordinating the details so no balls drop. Their job is to manage all the contract deadlines, financing time lines and closing details. This is one more way they can take the weight off your shoulders so you can enjoy the buying process.
  10.  Saves you money, a LOT of money. All the above professional services will cost you ZERO, NIL, NADA!! Buyer’s agents are paid by the listing brokerage. Their services are FREE to you, the buyer. I am fond of saying that using an experienced buyer’s agent can only save you money, and not cost you a penny.

Posted in Home Buying Tips | No Comments »

Don’t Throw in the Towel Just Yet!

October 14th, 2011
Many potential and current home owners are sitting tight right now waiting for the dust to settle on a crazy real estate market. They are essentially “throwing in the towel” and hoping for better days ahead.But don’t sit tight too long or you might miss the bus! The “bus” in this case are generational deals on prices and financing terms. The Columbus, Ohio market is considered “robust” by many with a state-wide and national perspective.A seller may say, “Great Dave, but I’m not sure my home will sell for the price I need.” True, you may not get your price on your current home, but that discount may also apply to your new home. And if you are buying up, then you may actually come out way ahead. And are you sure you won’t get your price? Values are neighborhood specific. Some areas are declining, some are holding steady, while some may even be increasing!Another seller may say, “Dave, I’m upside down. How can I sell my home today.” If you can’t afford to bring the short fall, you still have a number of options. Some of my recent clients rented out their old home and moved up to their new neighborhood. No problem! Not their first choice, but they were ready to move on. There is growing demand for rental homes today. Lease purchase options are growing in popularity too. Find a buyer who wants to do a rent-to-own.

A short sale is also an option. You may have to rent for two years, but many upside-down sellers successfully short sale their homes so they can move on. Just make sure you have an agent with experience navigating the short sale waters.

Buyers have unprecedented options open for them, including all-time low interest rates and tons of inventory.  And the financing is not nearly as restrictive as you may hear on the news. Most of my buying clients get approved for a loan, no problem.

And hold onto your hat for this one: there are still two sources of 100% financing, no money down loans out there! Even if a VA or USDA loan is not for you, FHA loans still only require minimal down down payments (see your lending professional for details).

Don’t throw in the towel on this market. You have plenty of options available, whether you are buying or selling.

Posted in Home Selling Tips, Short Sales | No Comments »

The Kiss of Death

October 7th, 2011
The kiss of death in this market is over-pricing your home.Many hard-working, conscientious home owners who have lovingly maintained their homes have to price it below what they ever imagined just to sell it in today’s market.

Here are a few tips to pricing your home right the first time (instead of 6 months later when it hasn’t sold yet!):

1.     Price your home where other similar homes are actually SELLING, not where others are currently LISTED. 

This tip attempts to poke a hole in one of the most common pricing mistakes, namely, adding in some “negotiating room” in the price. Your home will sell just fine, but only when it is are the right price range where others are currently selling.

And I have a simple definition for homes that are listed but not sold yet. They are the homes that are STILL over-priced.

2.     Price your home based on an honest assessment of condition. 

This is a tough one. You love your home, but does it need a few repairs or updates to make it really sparkle when the buyers show up?

The current market is brutal on homes that need updates or TLC. My rule of thumb is to take the actual cost of repairs and multiply by three. That is the actual market penalty for repairs needed. That’s one reason that bank-owned homes seller for such a steep discount.

But remember that clean and move-in ready sells. Don’t think you have to replace your white kitchen appliances with stainless steel ones. You don’t.

The bottom line is to take into account any work that is needed and compare your home to others that have sold in similar condition.

3.     Price your home where the market price will be in 30 – 60 days, not where it was last month. 

The worst case scenario is to slightly over-price your home then make small corrections every 30 days – all while the market continues to slide down too. This is called “chasing the market”. It is also called the death spiral.

One of my past listing clients listened to her out-of-town relatives instead of her in-town real estate professional. She over-priced her home by $10,000 out of the gate. Every 30-60 days, we had a fight about dropping it another $5,000. During this time, the market was dropping too! What started out as an over-priced $160,000 home is now priced (a year later) at $140,000 and not moving. The market fell out from under her. Her home may have sold in the first 60-90 days if it had been price $10,000 below her initial price, and she could have moved on with her life. Now she owns two homes and the old one is just sitting…

My take home: Bite the bullet and price it right the first time.

Posted in Home Selling Tips | No Comments »

Morning ruminations: Too Stupid to Quit

October 6th, 2011

Success is not so much about talent or circumstances as it is about passion and persistence. If you really, really want it, you’ll get it. But you have to really, really want it. And if you have passion and love for what you are doing, you’ll persevere and stick it out.

You have to guard jealously what you love. The difficulties of life daily threaten to douse the fire, diminish the passion and scar the soul.

And you better be doing what you love, because life is way too short to just settle. Don’t settle!

As Steve Jobs said on a video I watched last night, “you have to be too foolish or too stupid to quit when saner people would walk away.”

I’m feeling stupid today. Thanks Steve.

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5.5 Reasons to NEVER Use a Professional Buyer’s Agent

October 5th, 2011

Seems like I’ve run into lots of first time home buyers who got burned (or maybe just singed) on their first home purchase.

One common thread: Most of them did not have a professional buyer’s agent working for them!

Here’s my tongue-firmly-planted-in-cheek top 5.5 reasons why you should NEVER use a professional buyer’s agent:

1. You hate free professional representation of any kind (buyer’s agents are paid by the sellers but represent the buyer).

2. You like to pay too much for your home and would miss out on the chance to brag about how much you spent!

3. You love moving in and finding that there is no refrigerator (it was not written into the contract, a true story).

4. You would enjoy trying to kick on the ol’ AC when warm weather finally arrives only to find out that your new home doesn’t HAVE central AC (another true story).

5. You love emptying your bank account to pay for your own closing costs (no one told you that most sellers will gladly offer a financing concession).

5.5. You take great joy in a long repair list around the house. It’s great experience! (you did not know that sellers will make many repairs, if asked).

One thing I know for sure: A professional buyer’s agent can only SAVE you money!!

Enjoy!

David

Posted in Home Buying Tips | No Comments »

Selling Your Home For Top Dollar In A Down Market

September 23rd, 2011

Does it sound like the impossible dream? Selling your house for top dollar in a down market?

Not necessarily.

First of all, real estate is local, local, local. One neighborhood is selling well while the next is decimated with bank-owned homes and short sales. Don’t assume that you can’t sell in this market.

Second, understand that two types of homes are selling in this market: fabulous, well-staged and well-marketed homes and discounted bank-owned and short sale homes. Everything else is floundering in the “twilight zone” of a slower market with fewer buyers and discount hungry investors.

If values have tanked in your neighborhood and you are upside down (very, very common), then we can talk about a short sale. But that is often NOT the case.

If homes are moving fine in your neighborhood, then here’s how to get TOP DOLLAR for your home in a down market:

  1. Declutter. Be ruthless. Be mean. Do it while the kids are at school.
  2.  De-personalize. This might be painful, but you are preparing your home for someone else to live in. This includes that wall of photos you love so much!
  3.  Clean. Deep clean. Sparkling deep clean. Clean sells!
  4. Stage all the main rooms. The first floor is most important, The home should look PERFECT for the marketing photos — clean, well-lit, and move-in ready.
  5. Landscape the front of the house to perfection. I’ve heard of buyer’s stopping at the curb and saying “This is it” from the initial impression. Very important!
  6. Repair those obvious items that have been on your “honey-do” list for five years.
  7. Paint the main rooms if necessary. Plain white makes a home feel like the dentist’s office. Soft earth tones are great. If you need help here, consult a friend with good taste. I have zero talent in this area and depend on others.
  8. Price your home where the market is GOING, not where it has been. In many declining markets, sellers over-price their homes then “chase” the market for 6-9 months. This is a great way to lose thousands of dollars by not pricing to sell initially.
  9. Write a personal letter to the potential buyers about how much you love your home and why you are moving. It’s an old trick that helps build a personal bridge with potential buyers and makes them feel comfortable in the house.Leave this on the kitchen table for all showings.
  10. Last but not least, address odor issues. I know you love your pets, but the buyers might not! A few scented candles work well, but don’t turn the home into a Zen Temple.

Posted in Home Selling Tips | No Comments »

Why a Service Guarantee? Is It Worth It?

September 21st, 2011

I often joke that I never liked real estate agents — until I became one! But there is a lot of truth in that statement too.

My initial impressions of the profession were less than dazzling.

The agent we bought our first home from was not the most responsive person. When I asked if the sellers were going to repair a shower valve problem (which subsequently took me a YEAR to figure out) his response was a curt, “Do you want the house or not?” Gulp! Another agent was trying to worm his way into the deal. At our first meeting with him, after two minutes of conversation, he slid a contract toward me to sign swearing on a stack of Bibles that I would only buy a house through him. What?  I just met him and he’s asking me to sign a CONTRACT? He must be joking???!!! NOT! We did let him show us a few homes in our price range that we absolutely hated. He never took the time to ask us about our preferences in a home, just the price range. It was so bad my wife would refuse to get out of the car. I at least humored him by taking a peek. I’m too nice.

Our second time around was not better, at least at first. When were finally ready to sell our first home eight years later, I grabbed a few of those real estate magazines out front of the grocery store and started calling on interesting looking properties. And the most fascinating thing happened. Nothing. No one called me back. Here I am, a buyer saying PLEASE CALL ME WITH INFORMATION. Nothing.

I could go on and on about the bad photography, weak marketing, overly aggressive behavior and commission-hungry look in too many eyes.

Actually, I DID receive one timely call back from an attentive, friendly and informative agent. A great start! This agent came to our home, listened to our needs, worked with us on our current home, and led us directly to the home we have enjoyed for the last 10 years. Wow. What a difference! What a great experience!

In fact, that great experience in the hands of a true real estate professional has shaped what I call my professional service standards for my company. My pledge to my clients is simple: The Best Experience Buying or Selling Your Home, PERIOD!!!

This outstanding service pledge takes the following shape:

  1. Timely Communication. No call backs the next day, or day after. If we can’t answer the phone when you call, you’ll get a call back within two hours, at worst the end of the day.
  2. No Exclusive Buyer Agreements. I hate them. I won’t use them. If after a few weeks working with me or another Baker Realty Group agent, you think we don’t have a clue, fire us! No hassles!! We pride ourselves in being the best buyer’s agents in town. We take great pride in getting the best deal for our clients.
  3. An Easy Exit Listing Agreement. Don’t you hate the feeling that once that signs goes in the front yard, you’re stuck for six months. We don’t want you to feel that way. Bring on the pressure! I If after a few months you are not seeing the kind of excellent marketing we promised, fire us! No hassles!! You’ll never need to worry about being locked into some long term contract.
  4. Straight Talk. We don’t mince words. You may not like what we have to say about what it’s going to take to get your house sold. But we are here to help you and not just tell you what you want to hear. Our mission is to sell your property in the shortest amount of time, not just see another sign in the yard!
  5. Resources. We practice the team approach, both within the company and without. We have a team of trusted professionals in other real estate fields like home inspections and mortgage lending that we can suggest.

That’s our service guarantee.

The best experience buying or selling your home. PERIOD!!!

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Central Ohio Housing Market Update

September 21st, 2011

I’m pleasantly surprised to report that central Ohio real estate seems to be on the move.Here’s the short version of the latest housing stats:

  1. Housing inventory is DOWN by 21% from last year. LESS COMPETITION for sellers!
  2. Housing prices are UP, matching the average sale price at the height of the tax credit boom last year.
  3. Homes in contract is up 50% from last month.

Following are some excerpts from the Columbus Board of Realtor’s Market Update:

“August marks the second consecutive month of increased home sales this year after the first half of the year vied to compete with increased sales from 2010 due to the home buyer tax credits. According to the Columbus Board of REALTORS®, 1,946 homes sold in August which is 15.4 percent more than the previous year and 4.3 percent higher than July 2011.

“Residential homes which went into contract for sale was also up over 50 percent from one year ago.

“There were 3,059 homes listed last month bringing the total residential inventory of homes for sale to 15, 192 – down 21 percent from one year ago.

“The average sale price of $171,027 last month was up slightly (one percent) over the previous year and 0.5 percent higher than the average sale price of a home sold in July.

“Average sale prices in Bexley ($439,367), Grandview Heights ($284,400), Westerville ($189,476), German Village ($317,305) and Upper Arlington school district ($322,199) saw double digit increases last month. The same applies to the counties of Logan ($110,855), Morrow ($103,910), Knox ($128,365) and Madison ($159,326).

Call me (David Baker 614.898.5371) if you need insight into your particular situation. Real estate trends vary depending on local market conditions.

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The Always Inspiring Abraham Lincoln

September 19th, 2011

This is one of my favorite Lincoln stories, as taken from “The Wit and Wisdom of Abraham Lincoln.”

On a narrow cot, in the military hospital at City Point, Major Charles H. Houghton was dying. He had been in command of Fort Haskell, a strategic point in the rear of Grant’s lines, being directed in an effort to break the Union lines. Against Major Houghton, a mere boy of twenty years, were pitted the science and strategic knowledge of Gen. John B. Gordon, of Georgia.

Help came at last. The long-haired gray men were beaten back, and Lee’s desperate move was checked. Houghton’s leg was amputated and he was taken to the hospital at City Point, so that he could die in comparative peace, on a clean white cot. But for days he lingered on the borderland of life.

Sometimes in the long stretches of the night, when life and resistance are at low ebb, it seemed to those who watched that he must be zigzagging back and forth across and across that mysterious line. Yet always in the morning, when friends inquired for news of him, the surgeons could say: “He is alive. That’s all.”

At nine o’clock one morning, the door at the end of the ward was opened and Dr. MacDonald, chief surgeon, called:

“Attention! The President of the United States.”

There, outside the door, the sunlight streaming into the room over square, gaunt shoulders, stood Abraham Lincoln. Into the room he stalked, bending his awkward form ungracefully — for the doorway was low. At cot after cot he paused to speak some word of cheer, some message of comfort to a wounded soldier.

At Houghton’s cot the two men paused. “This is the man,” whispered MacDonald.

“So young!” questioned the President.”This the man that held Fort Haskell?”

MacDonald nodded.

With a large, uncouth hand the President motioned for a chair. Silently a nurse placed one at the cot’s head. Houghton did not know; he could not. As though he were afraid it would clatter and hurt the sufferer, Lincoln softly placed his stove-pipe hat of exaggerated fashion on the floor. Dust covered his clothes, which were not pressed. As he leaned over the cot a tawdry necktie, much awry, dangled near Houghton’s head. Gently as a woman he took the wasted colorless hand in his own sinewy one of iron strength. Just the suspicion of a pressure was there, but Houghton opened his eyes.

A smile which had forgotten suffering answered the great President’s sad smile. In tones soft, almost musical it seemed, the President spoke to the boy on the cot, told him how he had heard of his great deeds, how he was proud of his fellow countryman.

A few feeble words Houghton spoke in reply. At the poor, toneless voice the President winced. The doctor had told him that Houghton would die. Then happened a strange thing. The President asked to see the wound which was taking so noble a life.

Surgeons and nurses tried to dissuade him, but Lincoln insisted. The horrors of war were for him to bear as well as others, he told them, and to him the wound was a thing holy.

Bandages long and stained were removed, and the President saw.

Straightening on his feet, he flung his long, lank arms upward. A groan such as Houghton had not given voice to escaped the lips of the President.

“Oh, this war! This awful, awful war!” he sobbed.

Down the deep-lined furrows of the homely, kindly face hot tears burned their way. Slowly, tenderly, the President leaned over the pillow. The dust of travel had not been washed from his face. Now the tears, of which he was not ashamed, cut furrows in the grime and stained the white sheets on which they fell.

While nurses and surgeons and men watched there in the little hospital, Abraham Lincoln took the pallid face of Houghton between his hands and kissed it just below the damp, tangled hair.

“My boy,” he said, brokenly, swallowing, “you must live. You must live!”

The first gleam of real, warm, throbbing life came into the dull eyes. Houghton stiffened with a conscious, elastic tension on the cot. With a little wan smile he managed to drag a hand to his forehead. It was the nearest he could come to a salute. The awkward form of the President bent lower and lower to catch the faint, faint words.

“I intend to, sir,” was what Houghton said.

And he did.

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The Magical Power of Goals

September 10th, 2011

Our family really enjoys Harry Potter, books and movies alike. Who doesn’t enjoy daydreaming a little about what it would be like to wave your magic wand and POOF! all better.

Guess what. We do have something very powerful and more realistic we can tap into.

And that is the power of goals.

It never ceases to amaze me at the change that takes place within me when I take a few minutes, close my eyes, and gaze into my future — imagining what I WANT it to look like.

My head clears up. My focus becomes razor sharp. My heart beat kicks up a few beats per minutes.

And I start to smile. An eager, hungry smile of joy at the pursuit of my goals!

Usually I’ll grab a pad of paper in my office and start sketching it out – all over again.

Five year vision. Three year intermediate plan. One year action plan. You know the process! Bring that image of your life a few years from now into concrete focus today.  What’s my game plan to get there?

Sound like fun? Consider the alternate existence.

Woefully pondering again and again all the bad things that have happened.  All too often I join the sorrowful chorus.

That’s life. We NEED to mourn the losses and hurts. But we can’t stay in that place. We have to move back into the land of the living.

And real life is where we are pursuing our GOALS!!!!

Join me, won’t you?

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What is a Short Sale and is It for Me?

July 2nd, 2011

What the heck is a short sale? Great question!

Until three years ago, I had never heard of a short sale. If you had asked me then, I would have thought it was a weekend special at the local department store!

Seriously, a short sale is when a seller gets their lender’s approval to sell the home for less than the balance of the loan owed on the home.

At no fault of the sellers, market values may have declined in the home owner’s area so that there is not enough equity left to sell the home free and clear.

Can anyone sell their home as a short sale? Not necessarily. Typically, sellers have to be able to demonstrate financial hardship to qualify for a short sale. That basically means the seller does not have enough cash to bring to closing to make up the shortfall. I’ve participated in real estate closings where the home sold for up to $40,000 LESS than what the seller’s owed on the home. Not very pretty.

Does the bank have any obligation to approve a short sale? No they don’t. The terms of the note and mortgage still apply.

But in most cases, it is in the financial interest of the bank to approve the short sale.

Does the bank have to forgive the deficiency? No they don’t. Some banks reserve the right to pursue the deficiency.

And if you think you’ll need to sell your home short, use a real estate professional with experience with short sales. Many agents do not and you can lose a lot of time.

David Baker
Baker Realty Group
614-989-5662

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