Max Gieck
Displaying blog entries 21-30 of 86
Albuquerque Westside Hot Pick
Great family home - covered porch - grand family room with fireplace - kitchen build for entertaining - spacious master suite with Jacuzzi - walk in closet - new carpet and paint 2963 Sq. Ft. 4 bedrooms 3 bath. 
$199,500 SF $67.33
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Why Sellers Should Leave Before Buyers View their Home
I typically advise my Seller clients not to be home when buyers view their home. Even on a short notice. If the appointment is not relayed to the Sellers in time, and the Buyers and their agents show up unexpectedly I advice my Sellers to Thank the Buyers for coming, drop whatever they are doing, grab the keys and head out the door
IMMEDIATELY. Jump in the car, go somewhere. Take Fido on a walk for a few minutes. And close the door behind you.
As a Seller, you really don't want to be at the house. Your presence might hurt more than help. Buyers can feel uncomfortable with you at the house. They will quickly walk through the house, head for the door and move on. No one can make the proper and emotional decision in that 10 minute tour. At least most men can’t! Your goal as a Seller is to keep the Buyers in your house for as long as possible. Let them sit on your couch with their feet up and let them sit at the high bar bouncing ideas back and forth about the new imaginary life at their/your house. If you are at the house - either hiding in your bedroom or sitting on your patio, makes them feel uncomfortable, as if you are waiting to reclaim your life back once they are gone.
Another important reason why you shouldn't be home is that sometimes you voluntarily release information that may hurt in your future negotiation. I realized just how terrible this situation is having gone through it myself. I was showing a house in Taylor Ranch to my buyer clients. We walked in the door and the Seller came out to greet us. She looked like she just got up from a nap. She shook my hand and she apologized for how she looked. That's when her life story began to spill out. She went on about what she was going through and about why she had to sell the house.
My clients and I really did feel for her situation but at the same time, had my clients been interested in the house, that information would have really been useful during negotiations on the home. Remember it is the business and responsibility of the showing agent to give their best to their clients and will do that, not to you the Seller.
As it turned out the Buyers weren't interested in the property, otherwise I could have used the information to assist the Buyers in a tough negotiation. It's not fair I understand that. But I have pledge to give my best to my clients and I will have to do that. Information is power in negotiation. Voluntary or involuntary, it is still information that we - real estate agents - gather to use in the best interest of our clients. Hence, it is best not to answer any question related to the house. Politely tell the Buyers or the Buyer's Agent to contact your real estate agent. If needed, call the agent on the phone immediately. What you say or don't say sometimes can hurt you in your sale. So, the best advice is Sellers leave before Buyers view your home.
Albuquerque Westside Hot Pick
Gorgeous Pueblo style home with fabulous new wood flooring in living space! Upgraded gas/grill & microwave - new roof this year - Upgraded lighting package - extended patio the length of the home - Master bedroom is down - Large loft area.jpg)
upstairs for added living space - close to community park & pool.
$199,000 - $89.92 Sq
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Albuquerque Westside Hot Pick
Gorgeous Fuller home with open floor plan. Large open kitchen with breakfast bar - island - and dining nook. Stainless steel appliances. Master suite with bay windows - double vanities and garden tub. Lush
oversized back yard with open patio.
$209,000 $SF 103.52
This Weeks Westside Hot Pick
Former model features sophisticated great room with high ceilings - romantic fireplace - rich wood floor accents - stylish kitchen includes large island and plenty of cabinets - large master suite with private
deck - covered patio overlooks a well landscaped yard. Relax in your outdoor hot tub.
$223,000 - $SF 84.89
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To Search Albuquerque Westside Communities
SHORT SALE LIMBO. Last week I had an agent tell me that 95% of the short sales he has worked with have resulted in closed sales. I asked him a lot of questions and we both agreed that his claim was misleading. Agents like to think that if they are short sale experts they can get bank approval on offers. The bank has the final say and there isn’t anything we can do about it if they decide to take a few months to approve a short sale or if they just say no. Often we find one person in charge of hundreds of files. It is not unusual to wait three months only to find out that the answer is no.
Currently there are over a hundred homes in the Albuquerque metro area that are potential short sales that have offers on them that are waiting for bank approval. Most of these homes, even though they have offers on them will end up in foreclosure. Once a home is bank owned it sells for less but the process is much smoother.
Short sales are not foreclosures and even though offers are subject to bank approvals the bank does not own the home. Short sales occur when a bank accepts less than what is owed on the home as a payoff for the mortgage. Banks are very slow to approve short sales. Some agents will say that the bank is quick to answer, and some agents will say they are experts and have a lot of experience. That is all fine but at the end of the day no one has any control over when or if a bank will approve a short sale.
Sometimes short sales work out and everyone knows someone who knows someone who bought a home that was a short sale and they got a bargain. It happens. It’s like the lottery, there are occasional winners.
This Weeks Westside Hot Pick
Cul-de-sac home with outstanding views - 1650 sq. ft. 3/bedroom 2/story home. Master down and 2 additional bedrooms up. New granite counter tops - covered deck and small loft for additional living area. Great location.
$164,000 - $SF 99.39
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Some Short sale myths. Sellers are often confused and misinformed during the
short sale process.
In a short sale transaction, the Seller owes more than he can sell the property for. For whatever reason, the seller does not have enough money to break even on the transaction - whether it is a decline in property value, loss of income or his finances just fall short of the costs of selling the property.
When a real estate broker is hired to put the property on the market, the broker signs a listing agreement with the seller. The seller is still the seller, and the responsible party to the transaction. The seller did not sign away the property or ownership rights to the lender. The seller still has legal responsibilities to perform on the contract when the buyer purchases the property.
The lender's role in this transaction is only to approve the "short" amount. Hence, "short sale" approval. The property is NOT handed off to the lender like most sellers think. The seller is still the legal owner of the property.
When a short sale is approved, the seller may have additional tasks to fulfill in the contract. All these depend on how the contract was accepted by the Seller. The seller signs legal documents to transfer title to the new buyer. The bank does not. The seller still shows up at closing the bank does not.
The seller may be required to bring some funds to the closing, sign a promissory note in favor of the lender for the "short" amount or the seller may just walk away. The outcome depends on the negotiations of the "short sale" between the lender and the seller.
Most real estate offices have cubicles, offices and some kind of a room with a copier, fax, various forms and most importantly, coffee.
With all the technology available today most experienced agents work from their cars and home office most of the time. A real estate office with 100 agents can be housed in a small space.
Which real estate company should you choose? Real estate companies do not buy or sell real estate. Most do not employ REALTORS either. We are independent contractors. We interview real estate companies and decide which one we want to work with. Choose the agent not the company.
There are excellent agents and poor agents in every company. The agent is the person that has the buyer or seller enter into a contract and the persons that sells homes. It is the agent that finds clients, but sometimes they find us first.
Most of the local real estate companies are franchises, if you read the fine print it says "independently owned and operated". After working with three franchise real estate companies through four different offices, I have found that offices within the same company can be very different. Some are well run and others are not.
When people talk about real estate I hear statements like "did you notice XYZ company sold that house?" or "why did they choose that company?", or recently a buyer told me that he wanted to change real estate companies because he did not like the agent. Why?
The real estate companies that have the highest number of sales also have the most agents. If the company sells more homes is it a better company? As a buyer or seller you will have little contact with the company, it is the agent that will take care of your purchase or sale. Picking a big brand company does not guarantee a great agent. Real estate companies spend a lot of resources recruiting. The success rate among new agents is low, with an average of 80% not making it through their first year.
It is the agent that pays for the signs, lock boxes, and the contracts. We pay for the newspaper ads, virtual tours and property fliers MLS fees and internet access. If we make a mistake we pay for that too. Real estate companies make money by keeping a percentage of the commission that real estate agents charge. They also make money by selling various items to agents.
Some companies offer their agents better training. Training is voluntary, some agents take advantage of it others don’t, but for the most part agents are on their own for training also. For the public the Certified Residential Specialist (CRS) is a good designation to look for in your Realtor. The CRS is a nationally recognized designation. REALTORS with the CRS are acknowledged for advanced study in listing, selling, investment, taxes and a proven record of experience in applied residential marketing. This is always a good designation to look for in your Realtor not the company.
For buyers, it does not matter which company has a home on the market, any agent can show the home and we all have the same information about it through the MLS.
My advice, look for a good agent regardless of company affiliation. Ask friends, neighbors, relatives or co-workers who they worked with and if the agent did a good job, and then interview a couple of the agents to see who fits best.
This Weeks Westside Hot Pick
Only a short drive to Cottonwood. Traditional floor plan 1616 sq. ft. 3/bedroom 2/bath all brick home with brand new carpet. City and mountain views from the backyard and plenty of R.V. designed parking to the rear.
$150,000 $SF 92.82
Displaying blog entries 21-30 of 86
