Posted by Annalisa Burgos | August 20, 2009
I’m in the Seattle area trying to take a couple days of R&R, but wherever I go, I always get sucked back into work. And it’s not just the daily responsibilities of managing FrontDoor’s content.
As a real estate editor and licensed real estate salesperson, friends and colleagues often ask me what I think about the market and whether a property they like is actually a deal.
Sometimes I feel like Howie Mandel on “Deal or No Deal,” except on my game show, instead of opening random suitcases looking to eliminate low dollar amounts, homebuyers are looking through houses hoping to eliminate potential money pits.
They weigh the pros and cons of holding on to their current property — their “suitcase” if you will — or taking advantage of what they think is the “ultimate deal.”
To them, I’m the quintessential expert, on topics like home value and foreclosures, because I don’t stand to benefit from the purchase the way their official agent will and they know I’ll give them a straightforward, honest opinion.
So when my Seattle friends showed me a bank-owned property they were interested in, we talked about what needed to be fixed and how much they would need to put into the property to get it into move-in condition.
The exercise proved helpful. If I posed Howie’s question “Deal or no deal?,” the answer would be a resounding “no deal.”
Buying a home? Try these resources from FrontDoor.com:
Posted by Annalisa Burgos | July 27, 2009
Social networking sites like Twitter and Facebook are a great resource for journalists like me, especially when you’re on deadline in a city where you don’t have very many contacts. Case in point — before a recent trip to Chicago, I wanted to connect with a local Realtor and film a home tour for FrontDoor’s vlog. The catch — I had a two-hour block in which to film.
Rather than google Chicago-area Realtors and filter through hundreds of agent profiles, I put a call out to our more than 1,000 fans on Facebook. Et voila! Scott Curcio of Coldwell Banker posted a reply saying he would be happy to help.
Next month, I’ll be in LA, San Francisco, Boston and Seattle. If you have a great real estate story, share it with our Facebook community! I may even feature it in our vlog.
Posted by Annalisa Burgos | July 23, 2009
Ever wonder what really happens behind the scenes of an HGTV show? Now’s your chance to find out!
FrontDoor.com is giving you a virtual backstage pass to the new series “Real Estate Intervention,” through Twitter and Facebook.
During a special episode this Sunday, July 26, HGTV real estate expert Mike Aubrey will give you the inside scoop on his show LIVE through tweets and status updates. Tune in at 8:30 p.m. Eastern (7:30 p.m. Central).
But the best part is that you can join the conversation too!
Maybe you have a suggestion for the seller. Or you didn’t agree with Mike’s advice. Tweet and post your opinions and share them with other viewers. No more talking to the TV set alone! I’ll be adding my two cents too.
To join the interactive fun, follow us on Twitter at www.twitter.com/HGTVFrontDoor or fan us on Facebook at www.facebook.com/FrontDoor.
You can also follow along through the Facebook and Twitter streams on FrontDoor.com.
Don’t you just love social media?
Posted by Annalisa Burgos | July 17, 2009
In this week’s vlog, we hear from San Diego real estate broker and blogger Kris Berg about her tips for buying and selling a home in today’s market.
Homebuying and selling resources on FrontDoor:
Posted by Annalisa Burgos | July 10, 2009
In this week’s vlog, I talk to real estate broker and attorney Tara-Nicholle Nelson about how homeowners who are struggling to make their mortgage payments can get their loans modified and avoid foreclosure.
You’ve heard about extending the loan, converting an ARM to a fixed rate mortgage, and reducing the interest rate, but what about loan forgiveness? Will the lender write off all or part of your loan? Do you need to hire a company or can you work directly with your lender and do it yourself?
Get more tips and advice about the loan modification process:
Posted by Annalisa Burgos | May 19, 2009
Let’s face it. Sellers in this market need as much help as they can get. When you’re competing with foreclosures and heavily-discounted new construction, your home needs to stand out. Play up your strengths, whether it’s a great view or amazing kitchen. And if you’ve got a REALLY unique feature, FrontDoor.com is the perfect place for you to market your one-of-a-kind property!
FrontDoor’s Cool Houses Daily (www.frontdoor.com/coolhouses) highlights the coolest, kookiest and most unique homes for sale across the U.S., from a custom-built grown-up treehouse for sale in Texas to the former home of gangster Al Capone listed in Chicago.
Each day, we showcase one new property that has a great story or very unusual selling feature, chosen from our more than 3.6 million for sale real estate listings.
Each Cool House is featured for about two weeks and actively promoted through FrontDoor’s weekly newsletter sent to 400,000 engaged home lovers and via various social networks such as Facebook (www.facebook.com/FrontDoor) and Twitter (www.twitter.com/HGTVFrontDoor), plus throughout the Web site itself.
Realtors and brokers can add value to their clients’ listings with CHD. Just go to the CHD page (www.frontdoor.com/coolhouses) for details on how to submit your cool house for sale. “Our audience appreciates a good story and we are always on the look out for new and unique ways to highlight homes available through FrontDoor,” says Rich Lacy, vice president and site director of FrontDoor.com. “This feature showcases additional dimensions to a listing.”
And for home lovers like me, it’s cool just to see what’s out there.
Posted by Annalisa Burgos | April 30, 2009
Whenever I go to an open house, the listing agent often offers me the business card of a mortgage broker or loan officer, in case I’m looking for financing. Since I usually secure financing before I go house hunting, I never really think about the recommendation. Figured the guy was a friend, so the agent was doing him a favor by throwing him a bone.
But what if that agent or broker took a kickback for it. A big NO-NO.
Apparently, that’s what the nominee for the head of the Federal Housing Administration is accused of.
David Stevens, president and chief operating officer of Long & Foster, was supposed to be confirmed on Capitol Hill this week, but lawmakers put the vote on hold to review lawsuits alleging his company broke federal anti-kickback laws.
Long & Foster is facing several class action lawsuits, alleging that it shared profits with affiliated mortgage and title companies in exchange for bringing buyers their way. While these relationships are commonplace in the real estate industry, profiting from them is illegal.
If confirmed, mortgage industry vet Stevens will run the FHA, which offers those highly-coveted loans that require as little as a 3.5 percent down payment.
Posted by Annalisa Burgos | April 17, 2009
It’s time for another fun-filled weekend of open houses. As you brave the gauntlet of brokers eager to get your business, here are some great tips and worksheets on FrontDoor.com to help you with your search or sale.
Buyers – Hopefully, you’ve done your research and know how much house you can afford and what to expect in the homebuying process. Check out the listings on FrontDoor.com. When you see a place you like, add it to your list of “must-see” properties. If you’re working with a buyer’s broker, he/she should have compiled a list of homes for sale that meet your criteria. Before you head out, master these tips for what to know and expect at an open house. Print out FrontDoor’s Homebuying Checklist and multiple copies of the Home Tour & Open House Worksheet. Fill one out for each property you see and like. And don’t forget your camera!
Sellers – Your real estate broker should have broken down the entire selling process to you and explained how to prepare your home for the open house crowd. For your easy reference, print out FrontDoor’s Home Selling Checklist and the Home Tour & Open House Worksheet. Make sure everything is ready to make that great first impression. Now, it’s up to your listing agent to sell your home to the potential buyers walking through the door.
Speaking of open houses, don’t forget to watch Open House Sundays on HGTV, starting at 10:30 a.m. See how homebuyers and sellers just like you are working the real estate market.
Posted by Annalisa Burgos | March 27, 2009
I’m about halfway through my 75-hour New York state real estate licensing course, and each class gets more and more amusing. It’s like any other classroom setting — you’ve got the students who ask random questions (“why do we need to learn about property insurance?”), students who act like they know everything (“I’m a property manager so I already knew that”), and students who just observe and take it all in (that’s me).
Literally anyone can get a real estate license. All you need is to be at least 18 years old, pay about 500 bucks for 75 hours of training, and pass a school exam and a state exam. No high school or college education required. No hundreds of thousands of dollars in tuition fees. No experience necessary. All you need is the dedication to get deals closed.
The housing boom may be over, but you can’t tell with how many people are clamoring to be real estate agents. And from talking to some of these people, many are looking to capitalize on one of the hottest buying markets in history. Obviously, this is the best time to be an industry insider.
When I lived in Knoxville, my husband and I wanted to buy a house and went house hunting several times a week. Being investors, we were often surprised to find that many of the homes on the market were owned by real estate agents. It seemed like the agents were buying properties from sellers, making superficial fixes and then putting them on the market at a higher price to make a profit, in one word — flipping.
In a recent class, the teacher said flat out, “This business is not about showing houses. It’s about investing in properties and building your wealth. That’s where the real money is.” And true enough, many of the students agreed that that’s why they’re getting their licenses – to get first dibs on bargains and position them for personal gain.
As we continued to talk about things like ethics and good business practices, I’m concerned about the ethical implications. Personally, I think there’s nothing wrong with agents who are in the biz to flip houses. Heck, if I find a bargain, I may do it as well. But where it gets murky is when an agent’s true intentions are hidden behind promises to be true consumer advocates. Like when a seller says he wants X amount for the house but the agent knows it’s worth more and buys it so he can flip it himself. Or when a buyer is looking at a house and the agent tells him it’s a great buy, though he knows it’s a flipped property. Agents who don’t make their intentions clear are at risk when the public gets wise.
The best way for consumers to protect themselves is to arm themselves with their own research and information. That way, they can tell the difference between a true agent and someone who’s just in for the flip. Ask friends and family for referrals and interview at least three agents before choosing one. Get to know the buying process with FrontDoor’s First Time Home Buyer’s Guide, which gives easy-to-follow, step-by-step information from evaluating your finances to closing escrow. We also offer tools to research homes for sale, cities and neighborhoods, recent sales prices, how much mortgage you can afford and more. It’s all incredibly empowering!
With all this information, today’s smart consumer wants a trustworthy, dedicated real estate agent. Even if an agent has his/her own investments on the side, quality customer service is still the benchmark of this profession.
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