Why Take the Key? It Won’t Help Your Buyer’s Chances.

 

I recently attempted to show a bank-owned property that was priced considerably below market-value. One of my eager buyers was hoping to view this property and ultimately submit his highest and best bid. The property had been on the market for two days and there was a mandatory seven day waiting period before any offers were considered. When we arrived at the property, I unlocked the lockbox, only to find that the keys were missing. Confused and a little annoyed, I informed my buyer and called the listing agent. The listing agent was aware of the situation and placed a call into the property manager to have the property re-keyed.

ATTENTION REAL ESTATE AGENTS!
Removing the key from the lockbox to reduce the likelihood of the property being shown to other potential buyers is not only very unethical but may prove to be a disadvantage to your buyer. The seven-day waiting period could be extended to rectify the inconvenience and allow interested buyers time to submit their highest and best offers. Also, your buyer could change their mind making your efforts futile and unnecessary.

As a Real Estate professional, you should inform your buyer of the competition associated with the property purchase. Review the comparables (Comps) with your buyer, as well as strategize and determine the best offer for the property. As a real estate agent it is important to be professional and ethical in all business endeavors.

ATTENTION BUYERS!
If your Real Estate Agent suggests removing the key from the lock-box, please ask them to reconsider. As a buyer, if you were viewing properties, you too may be a little annoyed to know that you cleared your schedule for this viewing only to find out, there is no key to access the property. Additionally, if you were successful in securing the property, the absence of the key could delay other areas of your home purchase process including the inspection, appraisal, etc.

I am always disappointed with agents who employ this unethical practice. As a Realtor, your success is not measured by how many keys you can remove from a lockbox or how you can block the other buyers and agents through unethical practices. As a Real Estate Professional, buyers seek your services in a real estate transaction to be informed, educated, and navigated through this process. Buyers look to their real estate agent to negotiate on their behalf, and more importantly to be honest and ethical in all they do. Sometimes I wonder if I’m the only agent who works by these practices.

Another Happy Investor

I recently helped one of my Investor’s successfully sell a property. He used my services to acquire the property back in 2009 for about $35,000. At this time, the home needed extensive rehabilitation. As you can see by the pictures, the home had been abandoned for some time. My investor (the visionary), saw an opportunity to turn this eye-sore into a move-in ready home. Fast forward to 2011. The home had been rehabilitated and rented for over a year, waiting for the right time to sell. I listed the newly renovated home that boasted new floors (hardwood, tiles and carpet), new cabinets, new appliance package, new roof, complete with all the homey touches for $144,900. In less than 60 days, I received a full offer on the property. This is only one example of the many successful investments stories. If you are looking for a real estate professional that could help you with your investment projects, you can count on me. I will help you from property acquisition and tenant placement to property re-sale. Looking forward to working with you.

Best Chicken Philly in Tampa Bay

Fresh Mouth, located in Central Ybor makes the best chicken philly in Tampa Bay. I am yet to stumble upon another restaurant that can rival this tasty sandwich. Served on a soft hoagie bun, the philly consists of piles of chopped chicken breast, grilled mushrooms, green peppers and onions, smothered with a load of provolone cheese that makes the sandwich even more decadent with flavor. If you are looking for a Great chicken philly, Fresh Mouth is your place.

Could Google soon power homes?

The Internet giant is increasing its stake in the solar home power business with a $75 million “initial investment” to buy and own solar-panel generators on roofs of thousands of homes. Google is investing in Clean Power Finance, a start-up company that matches solar-panel installers with investors willing to buy rooftop solar-panel systems. “With Google’s investment, solar-panel installers can find homeowners who want solar panels on their roofs but don’t want to have to pay several thousand dollars to own the system,” according to an article in The Wall Street Journal.

“We’re excited about the opportunity to really help accelerate residential solar,” says Rick Needham, Google’s director of green business operations. The latest investment will likely help fund up to 3,000 home rooftop solar systems. In June, Google made a $280 million investment in residential rooftop solar-panel installations with SolarCity Corp. Google’s total investment in renewable energy has been more than $850 million. Rooftop solar demand is growing, and homeowners are finding paybacks too. Earlier this year, a study by Lawrence Berkeley National Laboratory found that solar panels not only saved homeowners money on electricity bills but also helped boost a home’s resale value, particularly for existing homes.

Source: “Google Invests $75 Million in Home Solar Venture,” The Wall Street Journal (Sept. 27, 2011)

Cash Is Still King

In May 2011, cash buyers accounted for 30 percent of existing home sales for the fifth-straight month, up from 25 percent in May 2010, according to the National Association of Realtors. Cash buyers often get better deals since sellers are more secure knowing that their offers won’t fall through due to lack of financing. So if you are thinking of owning a home or investment property and have the cash to do so, this is the time. Call or email me to discuss your home owning possibilities in Tampa Bay.