A one year journey through real estate, Week 5

A one year journey through real estate, Week 5

Week five ends on another dreary Friday.  Snow, rain, freezing rain and sleet mixing on and off today and tomorrow.  Except for my broker in charge, my office is empty today.  The roads are not too bad, but better safe than sorry.  Besides, most of us can do anything from home we could do in the office.

This past week, I spent a great deal of time trying to get my buyers to close.  We have had major difficulties with HUD.  They are saying the condo complex where my buyers are trying to close, is not FHA approved.  This seems odd and no one can get a straight answer.  The lender says this would not be an issue if we closed in 2009, but because of the new FHA regulations that went into effect January 1, we now have problems.  Yesterday, HUD told us it could take weeks to straighten out the issues.

So, my buyers have elected to go with a conventional loan.  Hopefully, they can close in one week.  Luckily, they have excellent credit scores/reports and family able to help with the higher down payment.  It has been a lesson for everyone involved.

I also had a listing presentation earlier this week.  Once again, the weather played a big factor.  To say the least, it was quite an adventure trying to find their home.  I felt the presentation went very well, but they are still trying to decide if they want to put their home on the market and move up to a larger home.  They would qualify for the $6,500 tax credit, so I hope they are able to take advantage.   After all, how often does our government give us free money?

Other than that it was a quiet week.  Phone duty once again did not prove to be effective.  I’ll keep trying though. 

I am preparing to farm my neighborhood.  I know that there are a number of brokers living in the area and several have tried farming it, unsuccessfully.  I received a flyer from another agent farming here this past week.  i thought it was the perfect example of what not to do.  Am I biased?  I suppose so, but to me it was a waste of the agent’s resources.  I believe my approach to be quite different to any marketing materials I have received at my home.  So, only time will tell if it is effective.  Now, i really can’t tell you just what I’m doing, or else you might use it.  🙂

That’s it for this week.  Please let me know what you think of my journey here.  Any comments would be appreciated, especially suggestions for boosting my business.

Jeff

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