Inspired Real Estate For Today

We picked up two loaves of bread the other day from one of our favorite local bakeries, Great Harvest Bread Company.  Let me tell you, there are few things more singularly delicious than sinking one's teeth into a soft, freshly baked piece of bread.  And when it's challah or cinnamon bread, two of my favorites...well, it's like a little slice of heaven here on earth. :)

As we enjoyed a little break, my husband made a passing remark which went something like this...'just six things'.  Now if you knew my hubby, you would appreciate that he is a man of relatively few words, so one learns to pay attention when he dispenses them.  So, I inquired about what he was referring to.  

Well, he was looking at the label on the bread loaf and noted how simple the ingredient list was. Remember the days when bread contained ingredients that you didn't need a science degree to understand?  I picked up the loaf to see for myself.  The list...white flour, honey, eggs, water, yeast and salt.  That was it!  All that taste and flavor from just a few simple ingredients.

Made me think about our jobs as real estate professionals. At a time when there's so much hype about this and that...social media, online advertising, online networking, personal promotion etc, etc...doesn't it still boil down to just a few simple things?

My dad used to say, 'it's not about what you know, it's about who you know'.  I learned that you Treat people the way you want to be treated...don't manipulate, don't deceive...what goes around comes around.  Then there was this...'whatever your hands find to do...do it with ALL your might.'  And...always keep an open, clean heart...clear those accounts every single night.  And then one of my favorites...a simple African proverb; 'No condition is permanent in this world.' Just a few simple things, but I've found them to be vital in creating an enriching life.

Copyright 2009  Audu Real Estate  All Rights Reserved

With interest rates dropping to their lowest levels since 2004, the home equity loan re-finance bug is itching a lot of folks again. As we approach the Spring Market which traditionally swings into full gear around March, home buyers will be able to take advantage of low interest rates and a large inventory selection of homes to buy as well. 

If you currently own a home and intend to sell it, it's important to coordinate your transactions properly so you do not find yourself making two mortgage payments.  Failing to sell one home before purchasing is a tremendous source of financial hardship to many home owners. There are some steps which you can take to help you to avoid being trapped by your Trade-Up Home. 

1. Know Your Values?

Many home owners make the mistake of relying on old data to determine the equity that they have in their home.  In today's market with the shifting sands of changing value, an appraisal which is older than 60-90 days is probably NOT an accurate indicator of the current value for homes in your neighborhood.  The average home Sale in Grand Rapids, Michigan has decreased almost 26% since the end of last year from $121,000 to just under $100,000 today.

2.  Steer Clear of the Loan Guessing Game!

It is vitally important to get pre-approved for a new loan. Credit lending standards have tightened considerably within the last 3 months due to the sub-prime lending crisis. But with the New $8,000 Buyer's Credit AND the fact that interest rates are trending downwards below 5%, there's plenty of incentive to get a professional review of what you can afford.

Don't assume that because you qualified for a mortgage last year, the same terms and conditions still apply.  To avoid an unfortunate surprise, get an updated, valid pre-approval letter from your lender which includes: verification of your credit, mortgage or rent payment history and verification of your employment. 

If you own a home you intend to sell, verify the balance and pay-offs for your current loan.  This will give you an accurate indication of how much money you may be able to spend towards the purchase of your new home.

3.  Sell First!

If you own a home and don't want to be strapped down with supporting two mortgage payments...Sell Your Home First and then buy your new home.  With the incredible array of properties for sale, the idea that your dream home will vanish if you don't act now is probably not as big a problem as holding onto your old home for a year while making monthly payments will be.

This is NOT the time to get into the Bridge Loan Trap just because interest rates are great.  Although the spring market has definitely picked up, you don't want to create a bad deal for yourself while trying to get a good one!

4. Don't Leave Cash on the Table!

If you're buying another home, most home owners want to get as much as possible out of the home they are selling.  This is normal and has a certain logic to it.  However, taken to extremes, many home owners have inadvertently hurt themselves by holding on far too long to a declining asset.  If you're moving to a more expensive home, negotiate hard to get concessions on your new home purchase. 

A 10% concession on a $200,000 home will more than make up for a 5% loss on a $100,000 home. When you factor in the additional 3 ~5 months of mortgage payments which you may be making while you wait for a buyer rather than pricing your home to Sell...well, it can run up to be quite a loss. 

5.  Spiff, Clean & Repair!

In a market with a lot of competition,  your home must look it's best if you intend to sell it at the best price the market can support.  Home buyers are looking for value and the first indicator of value is curb appeal and general appearance.  Here's a link to a Staging article which provides some tips about staging your home for sale.

6.  When You're Ready to Look...

When you're seriously ready to start looking, you might want to consider a Brand New Model rather than a Re-Sale.  You can get a lot for your money right now.  I've created a search for a variety of of areas in Grand Rapids and the surrounding communities in which BRAND NEW HOMES start at around $100,000!  NO KIDDING!

7.  Coordinate Your Exit Strategy...

There are few things more stressful than closing on your home and having nowhere to stay.  If you are buying a new home, sometimes there can be delays in obtaining permits or in completing the building process. 

Even a home which is not new can present unforeseen challenges with move out dates. It is best to give yourself a little overlap time if you need to coordinate a move to a new home or currently occupied home.  A good real estate agent will factor this into your contract negotiations.

Don't allow the purchase of your Brand New Trade Up Model to become a nightmare. At Audu Real Estate, we strive to coordinate the home purchasing and home closing process for a smooth stream-lined transaction.  If you would like to learn more about our services, please visit our website.

*this blog post was originally published in the Spring of 2008 and has been updated to reflect current market realities.  Questions about the myriad of possibilities which may be open to you can be directed to the author @ info@auduhomes.com

Copyright 2008 Audu Real Estate All Rights Reserved

When you take a look at things in black and white, you see things in a different way.  This past year, I've taken several snapshots of a variety of areas in Grand Rapids, MI and converted them to black and white images.  This slide show done with Real Estate Shows captures some of these images which are as diverse as a giant cabbage rose at the Fulton Street Farmers Market to a downtown highrise taken from and adjacent parking ramp.  To view more of my images from my walk-abouts in Grand Rapids, Mi....vist my Flickr profile.

The disappearing act seemed to take place while I nodded for a minute... 

I found myself waking up to a world in which full service was replaced by self service.  Which meant that I was pumping my own gas, checking out my own groceries, figuring out how to get the best deal on a car rental online or talking on a telephone to a computer which was pretending to be human. 

As this transition transpired, the service person whose job it was to make my life just a tad easier was doing a rapid fade into black...

Seth Godin opined about this issue in a recent blog post.  Where have all the agents gone?  When was the last time you used a travel agent or employed the services of a stock broker to trade your individual stocks?  As it became cheaper to do it yourself, more of us opted to save a few bucks.  The strange thing about the disappearance was how many of these agents vanished without a trace...

That's why I wince inside when I ask a consumer who their agent was when they bought or sold a home and they can't remember who it was or which company they worked for. 

Seth puts it like this:

Key point: anonymous agents are interchangeable and virtually worthless.Agents that don't do anything but help one side find the other side in a human approximation of Google aren't so helpful any more.

I think he may be referring to people like us...

Real Estate agents are the middleman in the real estate transaction.  We help people move from here...to there.  But if we intend to continue to ply our trade in the years ahead, we will be required to provide much more than that important but easily replaceable service. 

We must ask ourselves some crucial questions:

1.  What are we doing to build trust?

2.  How can our services transform the experience for the consumer?

3.  How can we engage the client in a more meaningful way...beyond the nuts & bolts of real estate

4.  Who will we choose to serve?  Why?  How?

Yes, it's an entirely different paradigm, but nonetheless a necessary shift if we don't want to become a mere blip in the future 'home search' process.

P.S.  While you're thinking...what are your thoughts about what will have to be done to keep agents in the center of tomorrow's real estate transaction?

Picture is courtesy of Pink Sherbert Photography 'D Sharon Pruitt' on Flickr via creative commons license.

Copyright 2009  Audu Real Estate  All Rights Reserved

One thing is certain about thorns, they're not hard to find!  I love roses and have tended them in my garden for many years.  Although I've used all sorts of gloves of varying degrees of thickness, more often than not, the thorns win.  They just seem to  have a way of finding some part of my body which is exposed even when my hands are protected by gloves.

I've sometimes wondered why one of the most beautiful flowers on the planet, the rose, would have a stem which could wound so dramatically?  I don't know the answer, but according to this wiki author, the thorns on the stems of roses are there to protect the rose from being eaten by wild animals attracted by its beauty and scent.  I guess that sounds plausible...

Over the past several weeks, we've been talking about the power of love in the Challenge of an Excellent Life Class.  It's awesome potential to transform life is unparalleled. But our recent class discussion was about the issues that stand in the way of love.  We explored the dimension of the small stuff. 

You know... the minor irritations, grudges, resentments and agitations which have a way of stealing the joy of life.  The stuff which we fail to notice when love is in it's initial bloom, but somehow seems to crop up and grow bigger the longer we're in relationship with another.

The thing about holding grudges is that we tend to regard it as an innocuous activity.  Our grudge bearing and resentment takes place under the wraps of pretensions, hyprocrisy and passive aggressive behavior patterns.  Within this actively potent fertilizer, these small  negativities grow and flourish. 

And not unlike the thorns on the stem of a rose, they become protective measures by which we undergird our hearts from getting hurt.  But the trouble with that solution is this...thorns sometimes wound.  When a small child grasps a rose to smell it, the child does not intend to harm the rose.   Unfortunately, the thorn doesn't know the difference  between the innocent grasp of a child and a hungry animal.  It will harm indiscriminantly.

This is to some degree what happens when we nurse our resentments and irriations as a means of staving off further hurt.  We may actually end up wounding the hand that was sent to embrace or miss the opportunity for growth which can only occur when we choose to harness the courage to love, regardless of the risk.  In our search for thorns, we limit our capacity to enjoy the fullnes of the bloom.

photo is courtesy of peasaps photostream on flickr.

*this blog post is from the challenge of excellence blog.  Once a week, a group of young adults get together at the First Evangelical Covenant Church in Grand Rapids, MI to explore what it means to live an excellent life in view of 1 Corinthians 13. You can read more entries from this series by visiting the blog.

Related Posts:

Entrapped by a Millstone...The Nature of Fake Affection.

What if Everyday Were Valentines?

Have you ever bought a book because of just one chapter?  Or gone to a restaurant because you just love one singularly scrumptious dish?  I have...I bet you have too.

In a world of plenty and an overwhelming abundance of choices, standing out from the crowd is an important part of business survival.  This past week, we drove downtown to check out a new restaurant offering in the Grand Rapids, Michigan area.  We'd heard about the Winchester from some friends.

The Winchester is a new gastro pub located on 648 Wealthy St. SE.  Some friends had urged us to check it out.  Stepping into the restaurant revealed the validity of the recommendation.  Every table was full; and at 5:15 there were very few spaces left at the bar.  Two women noting my plight, waved me over and began to wax rhapsodical about the place.  I looked at them closely...they weren't drunk; they were simply true fans who had found something good and wanted everyone to know about it!

As I grabbed a menu to go, I knew that I'd be back.  The fish tacos are calling my name. :) 

Today, being a 'jack of all trades' will be an increasingly difficult job to maintain.  At a time when jobs are being lost by the millions on a monthly basis, it's imperative that professionals of all varieties take the time to understand WHY certain businesses such as the Winchester are flourishing during challenging economic times.  Personally, for me it all boils down to the 'experience'.

I think that there are a few significant elements which help to determine whether an experience will be memorable for the consumer or simply fade into memory.  If a business or business professional concentrates on these issues, they will greatly increase their chances of success in any economy!

Create A First Class Experiences...

In a world overflowing with mediocrity, a first class experience stands out.  It's a little counter-intuitive, but think about it...if you had limited resources, wouldn't you want to get the best bang for your buck? The Winchester is located in a historic building which has been gutted to the core and lovingly renovated.  The owners are planning to move in to an apartment above the restaurant.  Now, that's true commitment! Those who create consistent first class experiences for their clients and offer more than they promise will be big winners.

Get Rid of Unexpected Surprises...

People don't like surprises.  There's enough stuff making folks anxious these days and most people prefer to pay for an experience which is predictable.  Witness the success of franchise organizations.  But what is lost in the typical franchise experience is uniqueness.  The thing about humans is that we are unique (hence the term individuals) and we crave unique combinations.  Any business which is able to marry the benefit of a guaranteed service proposition with a unique element or value which stands out from the crowd will benefit in a time of economic uncertainty. 

Provide A Value Proposition To Your Menu...

As I browsed the menu I picked up at the Winchester, I noted that most of the items were less than $15.  I could count on having a dinner which wouldn't break the bank!  No wonder the place was crowded and full of neighborhood regulars.  Great food and great value.  An unbeatable combo for sure.

As real estate professionals, there's much to take home from this example of a new restaurant which seems to be thriving when many businesses are fading.  It's easy to get caught up in the gloom and doom or to spend our time chasing the new formula for success when in reality, the recipe is quite simple

Consumers want a First Class Experience that Doesn't come with Unexpected Surprises and which Provides Good Value.  It's really not that complicated.

Copyright 2009  Audu Real Estate  All Rights Reserved