The HBH Group Real Estate News

6 Common Mistakes Buyers Make - if you are considering a home purchase in the near future here are a few pointers for you...

1. Buyers misinterpret the role of an agent -- Be sure you clearly understand the roles and duties of everyone involved in the transaction, especially who represents whom. Know the difference between a buyer's agent, a listing agent, intermediary and dual agency.
2. Buyers share personal information -- Don't discuss any confidential information about your housing preferences, financial situation or negotiating strategies until you understand agency (and have chosen an agent to represent you).
3. Buyers underestimate the effect of a competing offer -- When a seller has multiple offers, he's in a better position than you are. Many buyers don't put in their best offer not realizing they may be making another buyer's offer look great in comparison, and they lose the house.
4. Buyers don't attend the home inspection -- Many buyers put too much trust in the home inspection report. A "hairline crack in the foundation" may not sound all that bad in a report, but become a huge concern when observed in person. Be sure to see it for yourself.
5. Buyers think sellers pay the closing costs -- While escrow and several other costs are often split 50-50, most closing costs are negotiable.
6. Buyers fail to recognize the value of enhancing their equity position -- Buying a property below market value puts you in a much better equity position a few years down the road than buying it at or above market value.

This information is brought to you as a public service of the The HBH Group Realty Team with Keller Williams Realty. You may learn more about us at our websites located at: http://www.TheHBHGroup.com/ and http://www.TheHBHGroup.biz/ or contact our offices at (512) 439-3772 or toll-free at (877) 268-1877.

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...and the truth is that there is not much we can do about it regardless except stand our ground, continue to do what we do best and as always, offer world class customer service.  I for one will stick this market out, because I realize that there is market share to be had during this time - Now is the time to advance so when the market does snap back, I will be on the crest of the wave riding up.  So here are all of your marching orders should you decide to accept them:

1. Reduce and control your expenses - gas, equipment, salaries, etc.  Do everything you can to operate with less in the expense catagory, the market requires it!
2. Find places to expand with little or no added capital expense.  Make yourself the best at what you do and lead generate like never before in your business.
3. Understand that the market is changing and so is the business.  In years to come, your database and marketing to it will be less important than your web and blog presence - invest here - NOW!
4. Be ready to add capacity when the market turns brighter.  There will be added market share for the taking - be ready to take it immediately.
5. Most of all, take care of yourself and those you love.  This is what really matters so don't work yourself into sickness or divorce - an all too often story among our colleagues!

We're in this together!  Let's march toward to strong market that is just on the horizon!

Thanks for listening a few moments of encouragement.  I hope they have challenged you!

This information is brought to you as a public service of the The HBH Group Realty Team with Keller Williams Realty. You may learn more about us at our websites located at: http://www.TheHBHGroup.com/ and http://www.TheHBHGroup.biz/ or contact our offices at (512) 439-3772 or toll-free at (877) 268-1877.

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The seller is offering financing on this property with 20% down. Contact us for more details!

If you have not tried the Plugoo Widget yet, you should!  It is way cool!  It connects a widget in your BLOG or WEBSITE to most instant messenger tools (MSN Messenger, GoogleTalk, Yahoo! Messenger, AOL AIM, ICQ, Jabber...).  This will allow your Website and Blog visitors to IM you instantly to ask questions and get your assistance!  As I mentioned, WAY COOL!

Just go to plugoo.com and create a user account  there.  Follow the instructions to activate the account through email.  As soon as you activate, the Plugoo server sends you an IM and asks to be added as a friend to your IM account.  Once that is done you are ready to go!

You next need to add the Plugoo widget to your Blog Description (under "My Settings" in AR).  Once you update that, now a new widget appears that your readers may enter their IM Handle and a message into and it is immediately forwarded to your messenger account.  You can reply back and the conversation is tracked in the Plugoo Widget window for the reader attempting to reach you.

Another cool widget that you can add to your BLOG or your websites is the LibraryThing.com thing.  You click on the picture below to be swept away to the site as seen below.  Click on the Join Now hyper-link on the right side and create your account.  Create a user name, password and add your email address if you like.  Once your account is created and you have logged in, Click the "Add Books" tab at the top of the page and search for the favorite books in your library.  Add them one-by-one to create your virtual library at the site.  Next click the "Tools" tab at the top and select which type of widget that you wish to add to your blog or website (they have many from chiclets to full-size, graphical types.  If you click "Create a Standard Widget" the page moves on to an area where you can use radio buttons and pull-down boxes on the left to customize what you see on the right side.  As soon as you get everything like you want it, click the "Make It!" button, copy the java script code in the box and past it inside your BLOG Description box at Active Rain.  Click the "Update" button and view the results on your BLOG!  Give me feedback on how you like it? Enjoy!  

Would you like to show your LinkedIn.com profile here on Your AR blog?  Here is a cool widget that is easy to install on your Blog Description area.  Click on the picture below to jump to LinkedInABox.com and fill in the grey area on the right side of the webpage.  You enter your email address and login for Linked in here and then uou can customize the look of your widget by changing colors, selecting which of your LinkedIn attributes to display, etc.  Once you complete the information for customization, click on the "GO" button... 

Next you jump to a page that has a javascript code box that has all the code you will copy and past into your Blog Description box on the "My Settings" page in Active Rain.  When you click the update button and then look at your BLOG page again, 'Voila' you now have a LinkedInABox widget added to the right side of your page.  Cool, huh?  This could save you a bunch of typing and you can keep your professional information all on your LinkedIn page and update it there so it is distributed out to all your blogs and webpages through this widget.

Enjoy!  Steve 

I hope these pointers can help you in your business and personal life as well. Feel free to comment and add more techniques that you have learned in negotiating! This information is brought to you as a public service of the The HBH Group Realty Team with Keller Williams Realty. You may learn more about us at our websites located at: http://www.TheHBHGroup.com/ and http://www.TheHBHGroup.biz/ or contact our offices at (512) 439-3772 or toll-free at (877) 268-1877.

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Often people in the real estate business find the negotiationing involved to be one of the most difficult parts of the job.  Personally, I love that part and wanted to give you, my colleagues, some ideas to make this an easier process for you.

1. We are negotiating all the time in life.  Where to eat dinner, whether or not to have a family pet, when the trash will be taken out, etc.  The trick is to realize this and study the art of negotiating so that as these daily opportunities to negotiate come along, you can use them to practice your technique, making you a master negotiator over time.
2. Become a student of negotiation techniques.  There are plenty of great books on the topic and even some courses that you can take.  Learn all you can about technique and partner with another trusted associate with which you can have accountability to and use as a practice partner.
3. Remember that you need to be an expert in human personality traits.  Personally I have studied and use the DISC personality typing tool to understand others and their positions.  Having a tool like this to use in real estate is a REQUIREMENT to being a good agent in my opinion.  By baing capable of identifying the personality type of the negotiator on the other side, you can be most prepared to approach tem in a manner that will resonate well with them and create a win-win solution in any negotiation.
4. Negotiation is about communication at an open and honest level.  You need to speak clearly and openly with the other side, removing barriers to communication and making them feel comfortable with sharing ALL the issues with you.  This requires creating strong trust between you and the other side.
5. Get all the information that you can about the other side so that you can understand their issues clearly and be able to position your side and their side in a win-win posture.
6. Attempt to negotiate your position in pairs of items at a time.  For instance, if you are on the buyer's side and your buyer is having you negotiate repairs for them, work to get repairs in pairs rather than odd numbers.  Try to get these pairs configured with one being REALLY important to your buyer and the other not important.  Position both repairs as important when presenting them, but now you have a give-away item - push hard for the important one and give in on the one that is not important.  In this way, you have created a win-win for both sides.  The seller thinks that they are only having to repair one item not two, and your buyer gets what they wanted in the first place - True win-win! 

I hope these pointers can help you in your business and personal life as well.  Feel free to comment and add more techniques that you have learned in negotiating!  This information is brought to you as a public service of the The HBH Group Realty Team with Keller Williams Realty. You may learn more about us at our websites located at: http://www.TheHBHGroup.com/ and http://www.TheHBHGroup.biz/ or contact our offices at (512) 439-3772 or toll-free at (877) 268-1877.

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This is a common issue for buyers in a market where interest rates are climbing as our market is today.  Here is a typical conversation between a buyer and their agent in this sort of situation:

Agent: What interest rate would you be willing to pay for a house?

Buyer: No more than 6%.

Agent:  There are ways for you to obtain a fixed rate loan one percent below the going rate. First, you could make an offer on a house and ask the seller to reduce your interest rate by paying 4% of the purchase price out of their sale proceeds to your loan company. This would result in a permanent reduction of your interest rate by one percent over the life of the loan.

Buyer: A seller can effect my interest rate?  Really?

Agent:  Yes, most lenders have buydown programs such as this but if the seller is unwilling to provide the sales concession necessary for you to obtain the interest rate reduction that you desire, you are allowed to pay your lender an additional 4% of your loan amount in cash to reduce your interest rate one percent below the market rate. This payment of $4,000 on a $100,000 loan would be tax deductible to you. This would actually reduce the cost by 25% if you are in the 25% tax bracket, bringing the after tax cost down to $3,000.  The one percent reduction in the interest rates would save you about $20,000 in interest savings over the life of the 30 year loan and lower your initial mortgage payments about 15%. This would allow you to qualify for a loan about 15% higher than at the market rate, or you could purchase a house 15% higher in price for the same payment that you would have had at the market interest rate.  Relatives or employers may provide the money necessary to buy your interest rates down and homebuilders often offer below market interest rates to make their home competitive with resale homes.

The point of this article is to educate you that in this market there are many ways to make a home more affordable and to allow you to make a move up while the market is a bit slow in many areas.  This could save you money on a purchase by flexibility in sales prices and the willingness of many sellers in this market to offer such concessions to get their homes sold.  Be a smart home shopper and shop with a full service real estate agent!

This information is brought to you as a public service of the The HBH Group Realty Team with Keller Williams Realty. You may learn more about us at our websites located at: http://www.TheHBHGroup.com/ and http://www.TheHBHGroup.biz/ or contact our offices at (512) 439-3772 or toll-free at (877) 268-1877.

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