From Fred Glick:
I am wondering if you know of any system for documents for a transaction where the buyers/sellers, etc. have a dashboard that they can look at in addition to calendar reminders?
There are systems now for the mortgage biz, makes sense for real estate.
Anyone from the Geek Estate community know of such a product offering?
The post Buyer / Seller Dashboard with Notifications and Calendar? appeared first on GeekEstate Blog.
If you’re a recent college grad, you've likely heard speeches about pursuing your passions and believing in yourself, but you probably haven’t heard much about establishing a good credit history. Here's what you need to know.
Qualifying for mortgages, auto loans, apartments and even jobs has become dependent, to some degree, on your credit history.
The first step is knowing your current status. Access your credit report by visiting Annual Credit Report.com. Make sure all the information on the report is accurate, because errors can - and do - occur. Damaging discrepancies need to be corrected right away.
Your credit history is one of the key factors making up your credit score, the all-important three-digit number that determines the rates you pay on everything from credit cards to mortgages to auto insurance.
The best time to build a credit history is when you're young, and the best way to start a credit history is to get a credit card. This may sound counterintuitive, but if you don't have a credit card, the scoring system has no information to go on for assessing your creditworthiness, so you come across as a credit risk.
While many of the major issuers offer cards geared toward new applicants with little or no credit history, you might stand a better chance of getting a card at a credit union. Size up your card options on a site such as LowCards.com.
Gas cards and department store cards are also typically easy to get and can be a good place to start if your options are limited.
Another possibility - especially if you don't have any credit history or your credit is damaged - is to get a secured card. These cards work just like a regular credit card, except that you place a security deposit with the credit card issuer to obtain one. They typically require $200 or more for the deposit, and this amount becomes the credit line for the account.
The way to keep your credit score high is to spend responsibly within your means. Don’t use more than 30 percent of your available credit, and pay off your balances in full and on time every month. Your payment history contributes to 35 percent of your credit score, so this point is important.
Student loans are a form of debt, and are therefore taken into account as part of your credit score. And while you may be worried about a lender seeing all of this debt (likely tens of thousands of dollars), there's no need to be concerned if you’re handling your finances properly. Just be sure you’re managing your debt obligations and repaying them on time, every time.
Related:
Note: The views and opinions expressed in this article are those of the author and do not necessarily reflect the opinion or position of Zillow.
Originally published May 29, 2015.
Despite four decades in Hollywood, the “Avengers” star isn’t any closer to slowing down. If anything, Robert Downey Jr. is busier than ever. He’s got one movie in post-production (“Spider Man: Homecoming”), “The Voyage of Doctor Dolittle” in pre-production, is currently filming another “Avengers” movie, and has announced two other films.
Somehow he’s still making the time to pick up new homes — one on each coast. Less than two weeks ago, it was reported that the actor purchased a windmill cottage in East Hampton. This time it’s a $3.8-million Malibu manse.
Perched on a sunny cliff, the 3,384-square-foot residence offers sweeping water views from many rooms. In the living room, retractable glass walls flood the huge space with light, and make it feel seamlessly integrated with the outdoor terrace. The kitchen boasts an eight-burner stove, two sinks and a separate wine fridge.
Photos from Zillow listing
The 3-bed, 3-bath mid-century modern home is actually quite modest for such a big star. It still has an enviable view of Malibu Lagoon and a backyard with all the celebrity fixings — a pool, a hot tub, a fire pit, an entertaining area and even a putting green — but it’s a far cry from many of the other homes he is rumored to own.
Related:
Why pay full price for something if you can get what you want, plus another item, at a discount? This is called bundling, and researchers have been studying the pros and cons of it for decades.
Although many consumers think of bundling as a modern concept - it’s often used to combine TV, internet, and phone services, for example - the practice has been around for years in a variety of forms.
As a homeowner or renter, navigating the benefits and pitfalls of bundling household services means using a little common sense and a bit of economic reasoning. It also requires being aware of when and how products are bundled.
Everything from fast-food combo meals to items in a two-for-one deal could be considered bundled, especially if sold at a lower price than the separate parts.
For households, bundling might mean purchasing home and car insurance together at a slightly lower rate - the average American, for example, saves 16 percent when bundling the two policies, according to the latest data from InsuranceQuotes.com.
The possibilities for bundling household services abound, according to Andrew Schrage, co-owner of Money Crashers Personal Finance: "You might find someone on Craigslist who can help with electrical, plumbing, and air-conditioning/heating needs. You’ll likely get a discount, because you’ll be bringing that person more work."
There are several types of bundling, each with varying levels of consumer benefit, according to George John, a professor at the University of Minnesota's Carlson School of Management. As a homeowner, you’ll most likely encounter these two types:
In such a scenario, consumers are worse off, because the seller increases its profit by requiring such a deal. The company can get away with it "because they have a very strong market position," John says.
Why are so many services offered in bundles? "This is somewhat controversial, but it turns out that companies make more money when they offer you discounts on those bundles, because consumers get tempted into buying it," John says.
To win at the bundling game, keep your needs in mind, and stay strong in the face of alluring deals. Bundles are a true victory for consumers only if they genuinely need all parts included in it.
When consumers fail to shop around for the other items in the bundle and go for the packaged deal instead, they often walk away with products they don't want or need - and sometimes pick up lesser-quality goods along the way.
Finally, the touted time-saving advantage of combining bills, which service providers sometimes use as a selling point, may not economize that much time, especially if a consumer would be signing up for automatic bill payments anyway.
Service providers "want to take your attention away from the fact that it's actually a price move. They want to tell you that you're getting a better experience if you bundle," John says.
Consumers triumph when they control what’s in the bundle. Have a nanny who you pay a little extra to make dinner each night? That's a bundle. “It’s totally a good deal, because you know the benefit that comes from having the same person watch your child and cook for you. You've made the judgment," John says.
At the end of the day, discipline is key. Saying no to unnecessary items, looking for other options instead of pure bundling, and refusing to be duped by false benefits will ensure you win the bundling game.
Related:
Rarely does a buyer or seller show up to the closing without knowing exactly what their costs of sale will be.
In fact, based on the mortgage loan amount of the purchase/sale price, it's not hard to ballpark either side's closing costs. Before you get too far along in the process, ask your real estate agent or mortgage professional for an estimate.
Once you have a real, live deal with a closing date, you should be able to know your costs pretty close to the penny.
If you're new to real estate or haven't bought or sold in a while, here's what you need to know about closing costs.
In a closing, both buyers and sellers have costs. Usually, the buyer is faced with more line-item expenses than the seller (although sellers pay more).
For starters, most buyers are getting loans to make the purchase, and many of the charges stem from the loan.
A buyer should receive a loan estimate form early on in the sale process. This document spells out all the approximate costs the buyer will face when making the purchase, so there aren't any surprises at closing. Some buyers use the information on the loan estimate form to shop for different lenders, interest rates and costs.
Typically, buyers getting a loan will see some of the following costs:
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Be sure to go through these fees line by line with your mortgage professional to understand exactly what they are and how they apply to your loan.
Aside from the expenses of getting a loan or buying a home, some expenses, such as property taxes or homeowners association dues, are pro-rated and paid at the time of closing. For example, if you're buying a home and you close toward the end of the property tax period, you'll likely need to pay the balance of taxes upfront.
The same holds true for prepaid loan interest. If you close toward the end of the month, the lender may ask for the first month's payment up front.
Coming up with an extra one to two percent toward closing costs can be a bigger deal than a $5,000 reduction in the purchase price, so ask the seller to pick up some of the closing costs as a part of the negotiation.
Credit for $5,000 to go toward closing costs will be a much greater bang for the buyer’s buck. The price reduction won't amount to much more than a few dollars per month over the length of the home loan. But saving $5,000 at the closing will be money right back in the buyer's pocket.
For sellers, there are always fewer line items on an estimated closing statement. But the seller generally bears the biggest brunt of the fees: the real estate commission.
The commission is based on a percentage of the total sale price, so it tends to be the biggest fee. In addition to the real estate commission, sellers may have to pay the balance of their property taxes, if they haven't done so already, as well as any prorated homeowners association dues.
Related:
Note: The views and opinions expressed in this article are those of the author and do not necessarily reflect the opinion or position of Zillow.
Originally published December 6, 2013.
Jim Klinge in San Diego (klingerealty.com) asked me a question I’d like to pose to the Geek Estate community:
I’m looking for an IDX solution that includes solds.
We signed up with Boomtown to help facilitate our Zillow leads . It works as advertised – we can watch what listings our buyers are looking at.
But when it comes time to discuss comps/value, I then have to send them links to other websites because klingerealty.com doesn’t have solds. We have had luck in getting them to use the website for searches, and I think it blows the momentum to then have to send them comps using Zillow or Redfin links.
I read through your IDX posts, but I need to investigate which IDX provider also includes solds. Unless you know?
What IDX vendors are you using? Do they have comps integrated?
PS: Have a question you’d like to open to the broader community? Shoot me an email (drew at geekestatelabs com).
The post Which IDX Vendors Include Sold Data? appeared first on GeekEstate Blog.
So this was a real baseball fight today in San Francisco. There was a little past history between Hunter Strickland and Bryce Harper – and by history, Harper has hit about a thousand feet of postseason home runs against Strickland.
Today, Strickland wanted some revenge. And I have to give Bryce Harper credit for being a man and taking on a pretty big (and crazy) guy.
Here’s the fracas.
Here’s what Strickland had to say about it:
Hunter Strickland's postgame reaction to the fight: http://pic.twitter.com/kaolXjX2U9
— Alex Pavlovic (@PavlovicNBCS) May 29, 2017
The Nationals won the game 3-0. It took four teammates to get Hunter Strickland down the tunnel and off the field.
[White Sox 5, Red Sox 4]
[Joy of Sox]
It’s funny. My wife (who is a great wife, my best friend) knows I love Mookie Betts. And she messes up his name and often calls him ‘Melky’. I am sure she’s confusing him with Melky Cabrera. Today was Mookie vs. Melky, and Melky won the battle and the war.
Although Mookie Betts let the fireworks off early with his eighth home run of the season. Damn, he’s a good hitter. Even when he’s not going great he’s still electric.
David Price returned today and got through five innings. He left the game with the opportunity to win it, but a few walks were his undoing.
The Red Sox are going to need Price to return to form to have a shot at what they want to accomplish this season. Dustin Pedroia also left with injury.
Really good article over on ESPN – they did this because Yankees at Orioles on Memorial Day was the featured 1:00 PM game. But the article talks about Machado’s future and possibility of becoming a Yankee, staying in Baltimore or landing with a mystery team.
This game featured a monster bomb from Aaron Judge and way too much awful announcing from David Ross.
If you’re an agent or broker, chances are good you probably won’t find much value in watching the following video. However, if you’re a founder, executive, consultant, or technology vendor in this industry, you should.
The video is an interview with Paul English, the founder of Lola (and a co-founder of Kayak & Director at Partners in Health, an organization I greatly admire), at the Phocuswright conference.
Lola is a personalized travel assistant, by way of a simple messaging interface. While Lola is absolutely developing an advanced travel bot, it’s real humans interacting with travelers, not automated bots (the humans on Lola’s team use the bot/ai they’re developing to help do some of their work). Paul is very candid that he believes a consumer would get pissed off if they had to interact with a bot that’s 90% accurate. He’s right. He won’t expose his end consumers/travelers to a “bot” until he’s confident the experience is better than an experience with humans. 100% of the time.
That’s my worry with many of these real estate chatbots coming on the scene. They may be good 40% — or even 60% — of the time, but nowhere close to 100%. And a chatbot that is accurate any less than 100% of the time is pretty useless, and annoying, to your average buyer or seller.
The post An Outside Industry Perspective on Chatbots appeared first on GeekEstate Blog.
A week from yesterday, my plane touches down in LAX at 9:30 Los Angeles time. The Angels play that day at 12:30. We were considering the drive to Orange County so I could see Mike Trout play live and in the flesh, in his natural habitat. I couldn’t decide if I wanted the stress of that after renting a car, and hauling all of our bags over there to go sit in the sun before we checked in our hotel.
But Mike Trout has proven himself worth it; our hustle and bustle of the first day we arrive in L.A. just to see him one time at his home park in the prime of his career:
Mike Trout's 2017 AL ranks:
.342 BA (1)
.463 OBP (1)
.752 SLG (1)
16 HR (1)
36 Runs (T1)
36 RBI (4)
17.2 BB% (2)
.410 ISO (1)
3.6 WAR (1)— MLB Statistics (@MLBRandomStats) May 28, 2017
All that probably solved itself yesterday. Mike Trout got hurt, and will probably land on the DL for the first time in his career. Welcome to my life.
We’ll keep you all posted. If he’s in the lineup this coming Sunday – we just might go for it.
Yesterday’s game was during a beautiful Los Angeles afternoon, there wasn’t a cloud in the sky at Dodger Stadium. I figured the Jon Lester/Clayton Kershaw tilt would be a 2-1 classic. I missed badly as there was 10 runs on the board by the fourth inning (I lost my over bet early, painless and quick like a broken neck).
But the Dodgers hung on. They swept the world champions in Los Angeles – a place that they’re tough to contend with. It may not be so much a case of how good the Dodgers are (I think they are a really good team at home, and yesterday they solved issues they’ve had against LHP), but the Cubs just have some serious Championship hangover right now.
Cody Bellinger hit a monstrous three run home run, and Corey Seager had a couple of knocks. More than anything it was a glimpse of the picture perfect day in LA that I’ll be enjoying in about a week. I cannot wait.
It’s Memorial Day Saturday, so we lead with Mickey Mantle. What could be more American than that?
In our past, this was a weekend we were in Spring Lake, New Jersey; which is a shore town and there’s truly no better place to kick off your summer. We’re spending it in Ohio this year but it carries the same significance.
It’s officially summer. The kids are out of school. Your neighborhood pool is open. The weather is going to get hot and you aren’t allowed to complain about the humidity. There’s no work Monday at your bullshit job. You should have two solid days of baseball watching on tap + today.
And damnit, this is America. This is our holiday, our weekend. Remember that. Take pride in it. Hold it near and dear.
We are stuck in the 80’s and don’t ever want to leave. This 1980’s song of the week that should be played on a ballpark loudspeaker nearest you is Belinda Carlisle and from 1988. I Get Weak!
So enjoy your Saturday. Fire up your grill or weed whack or something. Or just lay around and be a lazy American slob. It should be great.
Thank you for your continued support of Diamond Hoggers.
Buying a home can be a long and challenging process. It's a big, expensive and infrequent transaction that can cause lots of stress and anxiety.
Some buyers take years to complete a purchase, and they require a lot of hand-holding and make lots of requests. Others are more self-sufficient, and only bring in the agent from time to time.
Good real estate agents can accommodate any buyer at any time - as they should. We’re in the service business, and I always say the customer is always right.
But let's face it: All buyers (and all agents) are not created equal, and since buyers don't pay for the agent's time, there can sometimes be a disconnect.
Here are five buyer behaviors that can make life tough for agents.
It’s one thing for a buyer to ask a seller for a credit if the final home inspection uncovers a problem. But after you have a deal, planning to negotiate the price down without telling your agent is a big no-no. It adds stress and ill will among all parties involved, during what could already be a difficult transaction.
It's better to be upfront about your intentions. If the deal is not meant to be, it’s better to not go down the path at all.
The seller's property is on the market for $400,000, and it's worth close to that, based on recent comparable sales. And yet, a potential buyer offers $300,000 and won't budge on the price.
It's not because the home is grossly overpriced or there's something seriously wrong with it, but simply because the buyer wants a bargain.
Unjustified lowball offers can be a waste of time for everyone involved. The seller isn't going to swallow $100,000 for no reason, even if the property has been on the market a while.
In fact, a lowball offer will likely just help the listing agent get a small price reduction, thus opening the window of opportunity to another buyer.
It's certainly okay to offer less than the asking price, but be realistic.
It's typical for a potential buyer to view a property during an open house, then ask for a private showing - even two or three times. That's par for the course.
However, it's frustrating when a buyer arrives to a showing with a designer, architect, contractor or just some friends, then spends an hour or two at the home checking out and measuring each room. This is counterproductive, particularly if you do it at one home after another and never make an offer.
Some buyers have even been known to bring their psychic, who, after making a big splash with tarot cards and numerology charts, declares that the property has "negative energy" and isn't a good fit, mainly based on the numbers in the property address. Did the psychic really need to see the property in person to figure that out?
Buyers typically give themselves an opportunity to gauge their own reactions to a property before bringing in friends, family or hired consultants. To go over a home inch-by-inch on the first or second visit is often a waste of everyone's time.
Some people are just beginning to think about buying a home. That's fine; buyers have to start somewhere.
Unfortunately, sometimes buyers are a year or two away from being ready to pull the trigger, yet they make a lot of demands on the agent's time.
Asking an agent to research city building permits on a house just because you're curious - and even though the property doesn't fit your requirements - is probably not a fair request.
Agents can't be as effective with their active clients if they're spending lots of time researching tax records or city permits for clients who are years away from being ready to purchase.
It's fine to shift course based on what you learn during the home shopping process. This is a common part of the buyer evolution process.
Many buyers set out for X but end up with Y after learning the market and seeing where their dollar goes. By the time you’re ready to start making offers and moving in the direction of acquiring a home, you will be laser focused.
But if you find yourself moving around and you’re uncertain about the object of your search, it's possible you just aren't ready to buy. That's fine. Take your time and learn the market.
The home-buying process is a journey, and a good local agent, brought in at the right time, can add so much value. Be mindful that agents work for free until a buyer or seller closes. Agents should be leveraged as a huge resource - when the right time comes.
Related:
Originally published May 23, 2014.
I wrote about Placester in 2014. At the time, they were charging Realtors $5 a month to compete with Zillow’s $10 a month websites.
Now, if you’re a Realtor, you can get a FREE website from Placester. The news came out a week ago, so it’s not really news anymore. Greg beat me to saying this. Websites really are a race to the bottom.
There are three categories of websites:
Those who have been in the website vendor game like I have know the truth — there are only two types of customers/clients to cover those three categories of websites. Those who are okay with a template and on a budget, and those who want a custom solution (and may or may not be on a budget). Anyone who goes with a semi-custom WANTS and EXPECTS a full custom — but doesn’t want to pay for the quality or service that comes with it. Serving the middle is asking for trouble, given the time it takes to deal with clients who have unrealistic expectations. Templates generally have razor, razor thin margins — and, of course, FREE templates (which is what Placester is offering now) have negative margins. Thus, these websites will need to be floated using another revenue stream or funding.
Placester is banking on the fact that they’ll be able to upsell their Realtor user base on other marketing and technology services, using the free website as the “hook”. Sure, that may work, for some agents who start early in their careers with Placester and grow their business over time. That said, the agents and teams and brokerages investing in their businesses are generally not those that will use a free template solution at all. I question whether the agents/brokers opting for free templates are going to be the types of agents and brokers who pay for other marketing services. Maybe I’m wrong about that; time will be the judge.
Don’t get me wrong, this NAR distribution deal is certainly a great lead generation play for Placester. It’s good for PR, and lends credibility. A freemium business model can work, no doubt. The deal is good for giving Realtors access to have a quality website that costs nothing. That said, this news is unlikely to change anyone’s business. If every Realtor has access to the same free website templates, nothing has really changed aside from the minimum industry website standard.
Have a good long weekend.
The post Placester and Free Websites for all Realtors appeared first on GeekEstate Blog.
The 2017 MLB AllStar week is coming and you can be sure that everyone who is going to attend is going to have a blast. There are a lot of emotions riding on this event and a lot of people want to keep the celebratory atmosphere going way after the event ends. The best way to enjoy the event is of course, alongside your family. You can probably still find tickets that can accommodate your entire crew. But if you’re riding solo or with a smaller party this year, it’s ok, you’re probably going to enjoy yourself still even if you have to get fewer baseball game tickets.
You’re definitely going to have a lot of attractions at the event, starting with 5K and Zumba which will definitely give the Miami hosted event that hard to mistake Miami vibe. Starting off the AllStar week, you can enjoy the night’s Electric Run, the Nike presented MLB AllStar 5K event. That’s going to be on the 8th of July, but if you’re there in the morning you’re going to be able to catch the MLB AllStar Zumba which will feature none other than Beto Perez.
Speaking of Perez, there’s another Perez coming your way. Tony Perez alongside Jeff Conine are going to represent the AllStar event as ambassadors. They were chosen to be Marlins assistants to the president and are definitely going to spice things up once the party starts. The AllStar game will of course take place on the 11th of July and the Mastercard presented event is going to take place at Marlins Park.
But the AllStar event is more than just living the moment. Both the MLB and the Marlins see this and have announced that they will be sponsoring the Legacy program with quite a hefty sum. The 2017 All Star Legacy program is going to get over $5 million from the two organizations, which is beyond amazing. For those that aren’t familiar with the program, it vows to help baseball initiatives not just in Greater Miami but the entire country.
There’s no doubt about the fact that you will be able to find something to keep your attention at this event. MLB enthusiasts and diehard Marlins fans will most likely be thrilled to join their fellow baseball lovers once more at Marlins Park, this time for not just a regular match of baseball but a really special event. As the Marlins prepare to host quite the show, so too do supporters prepare to be entertained and wowed with the beauty of baseball many other things. So for anyone on the fence about going or not, they should definitely go as it’s an experience worth remembering.
I have to admit, I’m not a religious follower of his writing. The first time I ever heard of Walt was in 2006, when he wrote a piece on the launch of Zillow (where I worked at the time). Back then, I had no idea what it meant for a startup to get a column by Walt Mossberg on launch day. 11 years later, that’s a bit more clear to me now.
Today marks his last column, on Recode or anywhere else. (there’s always the chance he’ll come out of retirement, I suppose).
It’s titled The Disappearing Computer.
It’s all about what’s happened with technology since he started covering the industry in 1991, and what’s coming next.
It’s worth reading for those interested in where technology is headed.
The post Walt Mossberg’s Last Column – The Disappearing Computer appeared first on GeekEstate Blog.
Thank you to our May sponsors…
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Geek Estate housekeeping:
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