Purple Haze

Well I couldn't of predicted this a couple weeks ago. Two of the best football games I've ever attended were back to back, and the Pirates came out on top of both. Holding the #8 team in the country WVU to 3 points was something special, but the excitement of the last minute win against Virginia Tech was exciting as it gets. The Pirates now hold a #14 ranking in the AP Poll and Coach Skip Holtz has just signed on to another six years at East Carolina!I have to admit, it sure was fun to be back in Greenville. I've got some friends that still live there that are nice enough to put us up for the weekend. With the success of the football team this year, the hotels are getting booked faster than the ECU students who rushed the field.

So when I haven't been engulfed in football this past couple weeks I've been working. My BNI group I wrote about last week is taking off, we had 7 new visitors this week that are all interested in joining. One moving to the area so hopefully we'll be out looking at some homes soon. It really is a great time for people to be home shopping, the interest rates just made another drop as well.

But what do you do if you are stuck in a home that just won't sell? There is something you'll see more of in the future, but it's been around for ages, Auctions. I don't want to call it a trend or say this form of selling real estate will take over, but I do feel there are properties out there that will benefit more from this type of sale. In some countries this is the primary means of selling real estate. I've seen some around Chapel Hill recently, so I signed up and took a course offered by Auction First North Carolina, Inc. It was a 4 hour course on just the fundamentals but what I learned was really eye opening.

First of all, it is amazing the response a AUCTION sign gets over the regular listing sign. As well as the online response from all over the world, auctions seem to attract a whole different breed of buyer. A home on Franklin Street here in Chapel Hill was listed with 3 agents over two years and no sale. They hired an auction company and were offered over their last listing price, and the buyer was from China! I really feel that real estate auctions will only find success in hard to sell and unique homes, but it is a great option to have for my buyers and sellers. Regular real estate licencees such as myself are working with buyers and sellers in these auctions, now I too am armed with all this information. I'll be interested to see where auctions go in the future, but with homes sitting on the market so long here in 2008 don't be surprised to see a sign near you.

I'm currently serving on the membership committee for the Chapel Hill Board of Realtors. My responsibilities are to head up a social function or two through out the year. I'm in the process of planning the 2nd Annual Young Realtor event to be hosted by The Franklin Hotel in downtown Chapel Hill. Last year the 35+ crowd felt a bit left out, so this year the theme will be more based on if you "feel young". I do, so I'll be there. I also have my friends Whitney Long & Rob Hale sponsoring the event, it's easier to attract a crowd when you're giving out a few free drinks.

Kicking Up Business

Almost a month since my last update on here, there's no excuse. Maybe I've been watching just too much of the Olympics which is finally over. August has moved pretty fast for me, I kicked off the month with a birthday. I'm 27 now, I can already tell I'm looking much older than when I was 26. I've started playing in a kickball league this month. That's right, kickball. Raleigh has an organization for adults that runs co-ed sports from flag football to dodgeball. I would rate it better than finding a slinky on top of a tall staircase.

I've spent this past weekend working with some old friends from high school. They are living up north but see the opportunity for investments here in the Triangle. They are Chapel Hill guys, so trying to show the places I liked in Durham was a hard sell. I think they agreed after seeing downtown that there is too much revitalization going on to be ignored. The growth in Durham and it's support from it's neighbors will only help our area as a whole. Durham has a stigma that for some people is hard to shake, but I feel I'm doing a good job of disproving it with every client I get out.

As a self employed professional you have to always be looking at ways to improve and grow your business. Networking is a key to being successful in real estate, if no one knows you then good luck drumming up a sale. I've been attending the local Chamber events and visited their leads group on occasion, but never got the feel it was greatly improving my business. Two minutes with someone drinking a glass of wine at a 6:30pm Chamber event is not catapulting my career. The odds are they will talk to 8 other Realtors before they leave too, we seem to be everywhere.

I was recently invited to a Durham BNI leads group as a guest of another Realtor. She was the only Realtor there, in fact there was a rule that limited it to one person from each field. This was a leads group that met for an hour once a week. They passed referrals back and forth, one after the other. They had gotten to know each other well and were comfortable with who they were giving leads to. The agent I attended with does several transactions a month from her group alone. That's all I needed to hear and see, I along with a friend have the ball rolling on our own, and the first, BNI group in Chapel Hill. We have about 10 members and they are a really good group of folks. I was somehow appointed President so I'll be busy increasing the size of our group and my business over the next few months.

I'm very much looking forward to this Labor Day weekend. As many of you know I'm an ECU grad and they will be playing football in Charlotte this weekend against Virginia Tech. I'll be staying with a friend there who just got a new boat, which means Sunday will be spent on Lake Norman. Hopefully the weather will hold out for us as I'll be outside 90% of the weekend. I got season tickets this year, which translates into several trips back to Greenville. It's nice to have gone to school so close, I always look for excuses to get back for a weekend and now I've got 3 or 4 of them. Go Pirates!

How Free It Is

I am moving in on my favorite days of the week, finally. I have a closing at noon today, which kick starts my weekend on the right foot. Last week I was on vacation but that didn't stop me from having to work quite a bit. My family had taken a week off down at Emerald Isle, it was nice to relax and play with my nieces & nephew. We also got the good news my Mom & Dad both passed their real estate exams. They have no plans to use them as of now, but I know first hand how hard that darn test is so I was proud.

I had to rush home from the beach Thursday to get back into the office. I was really looking forward to that weekend as my good friends Matt & Andrea would be getting married. We got in a round of golf with the groomsmen Friday, then it was off to the rehearsal dinner. It was held in the Pope Box above Kenan football stadium. The music, food, company and view made it a great event. They tied the knot Saturday, had a grand reception at the Farrington House and are enjoying a honeymoon in the Mayan Riviera as I type.

My clients that have a closing today asked me a funny question a few days ago. We are looking over the closing statement and they asked, "Where does it say what we pay you?" I was working with them as buyers and they fell under the misconception I've dealt with many times before. "You don't owe me a dime" I said. They gave me a funny look like I had screwed something up so bad I was not charging them, luckily that wasn't the case.

In most cases, the seller is paying both sides of the commission. When an agent lists a home for sale, that commission they charge is going to be split in two. The agent selling the home will receive half, the agent who brings the buyers will receive half. Now this isn't the same in all areas, or with For Sale by owners for example, but this is the common practice. It is something the public should be more educated about, how many buyers drive around aimlessly looking for homes when they could be riding with an agent for free?

Although I should always make that clear on day one of working with a buyer, I've yet to have someone complain when they find out at the end. I know the folks today will be happy to write a smaller check. After today's closing I have to return this guy pictured below. Sammy here has been staying with me for the week while his family is off on vacation. I'll miss having her around, I've been wishing I could get my own dog. I'm just out of the house too much that I think it would be unfair.

Even though we have my favorite days coming up, it's mostly work for me this weekend. Going to see the new Batman movie at the iMax theatre tomorrow night which I'm looking forward to. Sunday is looking pretty good as well, get to see the Embers play live while I float around a pool, not bad. Somewhere in the middle of all that I'm putting two new homes on the market as well. Don't forget it's my birthday next Friday, you may send any gifts to 1520 E. Franklin St, Chapel Hill, NC. Have a great weekend.

Good times aren't far away

Howdy, I hope everyone survived their Monday. It has to be my least favorite day of the week, as I'm sure is everyone else's. This is a week of getting organized for me. When I am busy concentrating on my current clients, the rest sits in the shadows a bit. I'm essentially running my own business, so being on my own I can get backed up with all the little things at times. My parents are taking their real estate licensing tests next week, so maybe I'll have two new assistants :) They'll have to pass the test first!



So the new iPhone was released just a few days ago, making my original even more ancient. Luckily the phone loaded the new software when I plugged into itunes, so I've been distracted with it all day. The 100's of applications they make available are amazing. It has to be the best business tool ever invented, I could go camping for a week and still get all my business done with that alone. I'm getting addicted to applications like these, Learning Rocks!

So if you haven't heard the bad news about the economy right now you may as well be living under a rock. There is one factor that is really slowing the housing market, the mortgage crisis. The government is now bailing out Fannie Mae & Freddie Mac, which are private companies but with big government ties. They account for about $5 trillion in loans, many of which should have never been given out. Chances are when you got your loan, Freddie Mac or Fannie Mae bought up this loan. If they were to go under, hardly anyone would be getting a home loan and the economy would sink deeper. Luckily the government is smart enough to prevent this from happening.

A large effect this is having is how it's portrayed in the media. It scares consumers into buying homes, more scared to have to sell their home. What the mortgage fiasco has essentially done is supply loans recklessly for the past several years, and it's all catching up now. There are still great loans available, you are just going to need better credit and more money down. It probably is a good thing the days of 100% financing is over, as we have seen many of these homeowners fall into foreclosure.

I've spoken with many people recently who are looking to buy a home but want to put it off. There is a lot of fear in America's consumers right now. I have read articles recently telling homeowners to take any offer they can get, reduce their prices to what they can afford to lose. The market isn't in shambles around here, so I won't be telling my sellers that anytime soon. The economy and housing market could use a nice boost though, and neither of those historically seem to happen quickly. Let's just hope it's sooner than later.

In better news, I'm excited to be heading up to Portsmouth, VA to see Widespread Panic this Saturday night. The pavilion there has to be one of my favorite venues. It's all general admission so you can easily get right up front, it's right on the water and they even have water taxis over to the show. This makes my 5th time seeing them play there, and at least the 30th+ time I've seen them altogether. It gets better just about everytime, especially because it's not quite as often these days. I'll be sad to miss their 2 night run in Charlotte next weekend, but I imagine I'll be having a better time at friends Matt & Andreas wedding here in Chapel Hill. Until next time...

Breaking Stereotypes

The 4th of July is just but a day away. I'll be heading towards the coast for a few days of vacation. My clients who planned on coming in for the weekend have opted not to come until Tuesday, so I couldn't be happier about that. I'm sure I'll still be busy on my phone & laptop, but at least it will be in the sun. The destination is Topsail Beach, then a day or two of Wilmington to visit a friend.

I've been staying pretty busy for the season. The summer is typically a bit slower for most agents, but then again the past year has been too. With 2 closings already scheduled for July and a full month ahead, I'm feeling great about the second half of this year. During my final stay at our companies kiosk, I actually managed to pick up some good leads. I'm still feeling a bit odd about sitting in the mall though, so I plan on keeping myself off the schedule.

Kelly & my nephew Wyatt stopped by for a visit, then back to shopping

I was never too aware of the stereotypes associated with real estate agents until I got started. Many of them are exaggerated, especially in films like this, but I wanted to touch on just a few that affect me. The median age of a Realtor is 52, exactly double my age. Many folks are out of their corporate jobs taking a chance on real estate. Right away they are labeled with more experience because of their age, when I have sold two or three times as many homes.

I have been told on several occasions, "we really like what you offer but have decided to go with someone a bit older." In some cases they have just chosen someone who works "part time", may follow up on a call from the sign out front, and if you are lucky get an ad in the local paper. I am available 24/7 for my clients, I follow up every lead, and I'm proficient in the internet where 95% of homebuyers are starting their search. The list goes on, but this may give you an idea. It feels like being the best player on the team but starting behind the coaches son.

The only other stereotype I'll have time for is that real estate agents "only care about making a sale". There are agents out there like this, which helps in feeding the stereotype. A new agent just retired from the corporate world, wants more time with the kids and will sell a house from time to time. This is what hurts our image the most; a home will be most folks biggest purchase in a lifetime, and there are some incapable agents out there looking to "sell you a house and get their check."

I have dealt with a few agents who return calls 2 days later, ignore multiple offers at the thought of all that work, and overprice a home just to get the listing. All these things I have picked up on the past few years really irk me, but they help me in improving my business. I get a thrill in negotiating the best deals for my buyers, and getting the most for my sellers. It makes it that much easier when on the other side may be a part time realtor looking to make a quick sale. Now don't get me wrong, there are lots of great agents out there, many of whom I learn a lot from each transaction. However the amount of incompetency in this business can be a little bit scary, something my clients won't ever have to worry about.

I hope everyone has a great 4th of July weekend!

It's good to be #1

Well it sure was nice to be home this past weekend. After several weeks on the road I finally got to stay put and spend some time around Raleigh. It's nice living in a town so close to where I went to school, in only two nights I saw a lot of faces that I haven't seen in a while.

This past Saturday was our season ending Lawn Wranglers cookout. That's the softball team I was playing on for those wondering. At first I was pretty disappointed I couldn't be in attendance because of a day long open house. In a way that couldn't of worked out any better, I got the house sold on Friday and was back in control of my weekend.

Shannon had some mint growing in her garden so we drank mint juleps, cooked on the grill and played some yard games. We also surprised Lars with a gift the girls made him for coaching this season, a gold shiny cape. He will certainly be the only pitcher wearing one on the mound next year, but after this season it will be tough surprising any teams with our dress code. From BK Knights, to jean shorts & yellow jump suits, we may not have been the best team but it sure was fun.

Over at the office, a Triangle newspaper recently had it's readers vote Fonville Morisey as the #1 real estate company in the triangle. It was no surprise either that Kiplinger's has just rated Raleigh as the #2 place to Live, Work, & Play. Their rankings involve criteria like local economy & activities, but also what potential they see in a city. With all the downtown revitalization going on it is clear why it made the list. I was a little skeptical of it all when I saw Fayetteville at #7, but I'll give them the benefit of the doubt.

I have seen our local market making some nice improvements over the last few months. The average home is selling in a weeks less time than when the year started. As other markets have battled depreciation and foreclosures since 2007, we have seen about a $6,000 increase in the average sale price. However, in May of last year about 1,000 more homes were sold, and in 10 fewer days. There is plenty of room for improvement and I see these changes starting to happen. I can say that I am open and ready for business, and glad to see it's coming in.

I wanted to say congratulations to good friends James & Brooke Kirkpatrick who were recently married. They had a splendid wedding & reception in the bride's hometown of Wilmington, Delaware. Best wishes to you both.

For those of you wondering where the koozies are, don't fret. They got off the press as of about an hour ago and should be arriving in you mailboxes in no time at all.

Fore!

Hope everyone is doing well. It's time to get back to work for me. I've had the benefit of being able to visit the beach the past couple weekends; it's so hard to get in the car and leave on Sundays. I'm usually with clients on the weekends so it's nice to get some time for these things. This past weekend I was down in Myrtle Beach with a group of friends and I spent Memorial Day weekend down at Topsail Island. Talk about two different places.






We had perfect weather for golf this past weekend. The squirrels at this course were especially friendly, this guy rode in our cart for the back 9. I've played quite a bit of golf lately, I hit an eagle a few weeks back and thought I was on my way to being a decent golfer. I proved to myself this weekend that I was mistaken.

We had our company golf tournament not too long ago and it was a blast. There were plenty of trophies given out, but none to our foursome. All the proceeds for this event went towards MS.

So here is the new place, a good size bigger than the old cottage. I've got a lot of work along with a lot of moving to do this week. We got the truck unpacked on Wednesday but took off for the weekend so the place is still a mess. It doesn't quite feel like I moved yet, I've barely spent anytime there so far. I will say it was nice to go 1 minute up the road for Char-Grill burgers & shakes the other night, food doesn't come much better than that.

Up until now, I've spent plenty of time in Raleigh but this is my first time living here. I'm excited to start spreading out my business. I'm going to remain based out of the Chapel Hill office for the time being. I really like the people there, and we have 13 other Fonville Morisey offices I can use. I'll have to tour some of the other offices soon and see which one I'd like to make my regular stop. My goal for the time being is to learn a little more about the Raleigh market, and just how to get from place to place for that matter.

I wanted to also give a quick mention to my new roommate and attorney at law Rob Hale. I had a closing scheduled with him last week and the lender botched things beyond belief. We thought the closing was never going to occur, but Rob got us in his office last minute and made it happen. It was the type of service I couldn't have gotten anywhere else, so he'll be getting a lot more of my business in the future.

Oh, almost forgot, I'm at the Kiosk today. Maybe it's just a slow day, but I'm pretty sure this was a waste of time for me. No one even seemed to approach the darn kiosk, oh well.