Happy May to you…this is a potpourri article.
1. At our April meeting, it was reported that our cumulative UNPAID dues is appr. $49,000, which encompasses ALL past years. Roughly $30,000 of that was for 2010 unpaid dues. This is unacceptable. I remind ALL HOMEOWNERS that payment of dues is not optional…when you drive down the Blvd and notice it’s nicely manicured with working irrigation, we are paying that with your dues. When you visit the pool and see how beautiful the water is or play on the re-done tennis courts, we are paying that with your dues. The street lights that you see on at night – we are paying that with your dues. Our 2 almost full-time employees are paid for with your dues. It is the position of the Board that nonpayment of dues will be pursued vigorously and via all legal options available to the Board, including placing liens and foreclosure litigation. Let me be clear – this is done with a heavy heart and ZERO satisfaction. However, the Board has NO ALTERNATIVE, as we are a business that can only operate on income derived from our residents via annual dues.
2. I would like to remind all residents that come to the office to please be respectful and considerate of our employees. Our employees are not involved in whatever issue you may have and being rude to them will not advance your cause. They function at the direction of your volunteer Board and are just doing the jobs assigned to them. Conversely, all employees should be respectful and courteous to you. Please contact me if you have any questions.
3. The Board has received from our engineer preliminary plans to remodel the pool and upgrade the filtration system to meet current accepted standards. Combined, this entire project should allow the pool to meet it’s designed requirements for the next 20 or so years. The Board will be voting on the proposed remodel at our May meeting and we will also be having a townhall meeting in the near future to discuss specifics, examine the current state of the pool and equipment, and answer any questions that residents may have. Construction, if approved by the Board, would start late this year.
4. Residents have heard our repeated calls for volunteers but we are not there yet! I urge you to get involved and move your community forward. Many hands make light work and there is no feeling like giving back to your community – it’s what makes us stronger. Call the office and let them know you are interested in exploring where you fit in at Westlake Village.
Monday, April 26, 2010
Sunday, April 4, 2010
To sell or not to sell, that is the question. If you ask realtors in my area what the HOTTEST selling properties are, they will tell you $300,000 and under. If you keep prying, you will find out homes UNDER $100k are selling like hotcakes (the nice ones that are priced well, at least).
Before I go any further, I will try to sell anything with a door and a roof regardless of price. If it helps my seller, I'm game.
One starts to wonder when you get into the $50's & $60's as to whether it is beneficial or not. Before you think I'm an egomaniac looking for the next big score, let's look at it from a business perspective as I am a sole proprietor running a small business.
Here's are some thoughts against taking an overly inexpensive :
1) The paycheck. When it comes down to it, was it worth your time and effort to get this sold. If you break down the approximate hours worked on this particular deal, how does it equate to other transactions? Will you wind up making less than minimum wage when it's all tallied up? If so, consider referring it.
2) Effort involved. Why is the home that inexpensive? Eaten through with termites, ravaged by black old, or so dilapidated you can't let buyers use the stairs (yep, I've been there)? Consider the extra effort it will involve to move this home...meeting with inspectors, municipal inspectors, the endless sign calls, the inspections that will inevitably fail, the repairs required by FHA financing...sometimes a lemon is a lemon.
3) You time. What is your time worth to you? Could you be out listing and selling a $250,000 home during the time you are listing the $23,000 home? If "you're in it to win it" then you know the answer already...steer clear and let another agent handle this. It's good experience and low risk for them.
4) Liability. Ehhh. You can't sneeze without being liable for something. A good entrepreneur will manage their risk and balance with the potential reward. Is your livelihood worth risking for a much smaller paycheck? Does the liability you are taking on adequately pay off in the end? Most likely not...tread carefully.
Ok, so those are some reasons to avoid discount-priced listings. But what's the payoff for working them like any other property you are marketing?
1) Living up to your reputation. I don't know about you, but my personal credo is to help homeseller's as much as I can. That includes Uncle Johnny who just found out he was willed Aunt Susie's 70 year old house. More so if the seller is out of state, financially strapped, or a client referral. It's just the right thing to do.
2) It's gas money. My father once told me that the smaller commissions pay the bills and the larger closing checks go into savings. I have tried to live to that standard and so far it's worked. After all, isn't it all about the bottom line?
3) Look at the leads. That mold infested home might not sell, but you are going to give it a shot. Good on ya! if you work it right, you may parlay some of the many leads you get into a sale(s). That's the real payoff in this business - helping seller's and ultimately assisting buyer's find the right home for them (and it may not be your listing!).
4) Stats. Everyone likes being on top. You won't get there as fast if you habitually turn away business. Plus, you may not want the reputation that you turn away business. This may turn off seller's who own a more pricey property as well as that inexpensive one.
5) Get your hands dirty. Ok, it/s not exciting to get a home that needs substantial repairs and is priced as such. However, the learning curve is very steep and a wise realtor will use these opportunities to their fullest. Learning about a different type of home (frame vs block), a different area than you normally work, a different class of Buyer (FHA vs Conventional) will make you a smarter realtor in the end, and intelligence is power in this business.
So what did you learn? Hopefully that there are pros and cons to that $15,000 listing with boarded up windows. Everyone needs to make a business decision that suits their needs - just make that decision with as much insight and info as possible.
Before I go any further, I will try to sell anything with a door and a roof regardless of price. If it helps my seller, I'm game.
One starts to wonder when you get into the $50's & $60's as to whether it is beneficial or not. Before you think I'm an egomaniac looking for the next big score, let's look at it from a business perspective as I am a sole proprietor running a small business.
Here's are some thoughts against taking an overly inexpensive :
1) The paycheck. When it comes down to it, was it worth your time and effort to get this sold. If you break down the approximate hours worked on this particular deal, how does it equate to other transactions? Will you wind up making less than minimum wage when it's all tallied up? If so, consider referring it.
2) Effort involved. Why is the home that inexpensive? Eaten through with termites, ravaged by black old, or so dilapidated you can't let buyers use the stairs (yep, I've been there)? Consider the extra effort it will involve to move this home...meeting with inspectors, municipal inspectors, the endless sign calls, the inspections that will inevitably fail, the repairs required by FHA financing...sometimes a lemon is a lemon.
3) You time. What is your time worth to you? Could you be out listing and selling a $250,000 home during the time you are listing the $23,000 home? If "you're in it to win it" then you know the answer already...steer clear and let another agent handle this. It's good experience and low risk for them.
4) Liability. Ehhh. You can't sneeze without being liable for something. A good entrepreneur will manage their risk and balance with the potential reward. Is your livelihood worth risking for a much smaller paycheck? Does the liability you are taking on adequately pay off in the end? Most likely not...tread carefully.
Ok, so those are some reasons to avoid discount-priced listings. But what's the payoff for working them like any other property you are marketing?
1) Living up to your reputation. I don't know about you, but my personal credo is to help homeseller's as much as I can. That includes Uncle Johnny who just found out he was willed Aunt Susie's 70 year old house. More so if the seller is out of state, financially strapped, or a client referral. It's just the right thing to do.
2) It's gas money. My father once told me that the smaller commissions pay the bills and the larger closing checks go into savings. I have tried to live to that standard and so far it's worked. After all, isn't it all about the bottom line?
3) Look at the leads. That mold infested home might not sell, but you are going to give it a shot. Good on ya! if you work it right, you may parlay some of the many leads you get into a sale(s). That's the real payoff in this business - helping seller's and ultimately assisting buyer's find the right home for them (and it may not be your listing!).
4) Stats. Everyone likes being on top. You won't get there as fast if you habitually turn away business. Plus, you may not want the reputation that you turn away business. This may turn off seller's who own a more pricey property as well as that inexpensive one.
5) Get your hands dirty. Ok, it/s not exciting to get a home that needs substantial repairs and is priced as such. However, the learning curve is very steep and a wise realtor will use these opportunities to their fullest. Learning about a different type of home (frame vs block), a different area than you normally work, a different class of Buyer (FHA vs Conventional) will make you a smarter realtor in the end, and intelligence is power in this business.
So what did you learn? Hopefully that there are pros and cons to that $15,000 listing with boarded up windows. Everyone needs to make a business decision that suits their needs - just make that decision with as much insight and info as possible.
Thanks to the Schnauders
I want to personally thank Dawn Marie & Justin Schnauder and there wonderful children for making sure the Annual Easter Egg hunt happened this year. Dawn went wayyyy out of her way to bring smiles and squeals of joy to Westlake Village children (my son included) and her love of this community is so very appreciated. The next time you see them , please thank them for making this a lovely place to call home!
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