Sunday, July 5, 2009

For Sale Houses

i came up a website for buyers who wants to check out. its, it gives a list of For Sale Houses in the Philippines. so if your looking for a new a house, visit or email for inquiries, or better check out a blog site i found that gives Real Estate News and Reviews, its cool check it out

Real Estate Broker in the Philippines

you can buy for sale houses in the philippines thru jesman real estate brokerage services. jesman is a licensed broker in the philippines so you can check out their website, its .

jesman real estate brokerage services offers

  • General Brokerage
  • Project Selling
  • Documentation
  • Valuation
  • Title Transfer
  • etc.


Philippines is a beautiful country, you should visit Philippines because of its beautiful places and hospitable Filipinos and Filipinas...

Philippines maybe small in the world map but its big in potential. Philippines is waking up from its long slumber in economy and making its rank to the top.

here are the list of places you should visit in the Philippines:
  • Boracay - the beach
  • Batanes - rather different trip
  • Batangas - the beach also
  • Laguna - the hotsprings and the mountains
  • Cavite - the historical history
  • Pagsanjan - the nature and the falls
  • Palawan - Ethnicity of Beautiful islands
and so much more.
check out philippines

Monday, June 29, 2009

Entering the For-Sale-By-Owner World

Converting FSBO listings involves a process that, in a number of ways, is similar to working with expired listings. However, there are two key differences between the two areas.

The biggest difference has to do with timing. Most expired listings are re-listed and back on the market within a matter of days, while FSBOs convert at a much slower pace. If you contact the owners of a FSBO, usually you can expect them to take at least a few additional weeks to try to sell on their own before they commit the listing to you.

The second big difference has to do with the sales approach. When working to convert an expired listing, you need to take control in order to prevail over a bunch of other unknown agents who are vying for the listing. The owners of the expired listing rarely have an agent preference at this point. Their “first-choice” agent was the one whose sign just came down; from that point, they’re pretty much up for grabs. This isn’t always the case with FSBO owners, who sometimes have an agent “in the wings” who they are considering signing with if they have no success on their own. For this reason, you need to take a lower-key approach and work to build a relationship in order to win over the FSBO listing.

When the marketplace is active and everything in sight seems to be selling, as was the case over the last few years, FSBO listings abound, and FSBO owners achieve a reasonable sales success rate even without the services of an agent. So you may be wondering why an agent would even spend time trying to convert FSBOs to agent-represented listings. Here are just a few good reasons:

  • FSBOs are simply too tempting and attractive not to work with. Real estate agents market homes for sale, and FSBOs most certainly fit that category. It doesn’t make sense to ignore this great market segment, though most agents do.
  • Owners of FSBOs are qualified, motivated sellers. Clearly, they want to sell, but likely, they don’t realize the long odds of the game they’re playing.
  • Owners of FSBOs are viable client targets. Unlike other prospective clients, you don’t have to wonder whether they own their home, whether they’re serious about selling it, and whether or not they have the authority and ability to conduct the deal.
  • Owners of FSBOs are easy to find and reach. One of the most difficult steps in the sales process, no matter what you’re selling, is locating prospects in need of your product or service. With FSBOs, like expireds, you know who your prospects are, and you know how to get in touch with them. Reaching FSBOs is easier than reaching expireds because they want to be found.
  • The vast majority of FSBOs fail to sell on their own. Even in a robust market, fewer than 30% of FSBOs sell themselves. This means more than 70% of the owners, if they want to sell, will eventually enlist the services of a real estate agent.
  • FSBO sellers often net lower prices than those achieved by agent-represented sellers. Among the 30% of FSBO homes that result in a sale, most are priced right at or below fair market value. In fact, to FSBO sellers, price is the primary marketing ammunition. There is no reason for a buyer to take the additional risk of working with a FSBO except that they are trying to acquire a home for less money than they’d spend on a traditional transaction. The problem is that low price is exactly the opposite of what the homeowner is trying to achieve.

More than nine out of ten serious FSBOs end up as agent listings within a reasonable period of time – usually four to five weeks. Originally, owners set out to sell their own homes for one reason: They want to “save” the agent commission. They view the $10,000 or $15,000 that an agent will earn as too much pay for such an easy job and as money that they could put toward an additional down payment or a get-out-of-debt plan. They ask themselves, “How hard can it be?” as they pound the FSBO sign into their front yard. In the back of their minds many think, “Let’s give it a go. We’ll probably meet a few agents along the way, so we can always change our minds.” And most do.

After a month of the hassle, time, energy, emotion, and stress of trying to sell their own home – after running ads, fielding phone calls, holding open houses, and showing parades of people through their home ­­ 90% of homeowners rethink their answer. Fortunately for agents, selling a home isn’t all that easy.

Before you pursue FSBO listings, it’s worth it to know the situation you’re entering.

When a FSBO goes on the market, most often only one of the owners is leading the charge. One half of the couple is fixated on saving the commission and the other relents for a specific period of time. As part of their compromise, they agree to give the FSBO approach a try for 30 to 45 days, after which time they agree to list it with an agent.

More often than not, the consenting partner gets frustrated with the whole process long before the FSBO test period elapses ­– tired of all the calls from agents and of the buyers who make appointments that end up as no-shows. If they do secure an offer, the owners grow weary when the buyer can’t secure financing. They get tired of people who need “help” to buy a home and who ask the seller to take less, carry a second mortgage, engage in creative financing, or even entertain some form of fraud. And then there are the jokers fresh out of some “no money down” seminar…

This is the life of a FSBO, and it’s why the odds of FSBO-conversions are heavily in your favor. Over 80% will end up as agent listings if they are serious about selling.

Published: June 26, 2009


Mortgage Rates Mostly Flat Amid Mixed Economic News

McLean, VA – Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 5.42 percent with an average 0.7 point for the week ending June 25, 2009, up from last week when it averaged 5.38 percent. Last year at this time, the 30-year FRM averaged 6.45 percent. The 15-year FRM this week averaged 4.87 percent with an average 0.7 point, down from last week when it averaged 4.89 percent. A year ago at this time, the 15-year FRM averaged 6.04 percent.

Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 4.99 percent this week, with an average 0.7 point, up from last week when it averaged 4.97 percent. A year ago, the 5-year ARM averaged 5.99 percent.

One-year Treasury-indexed ARMs averaged 4.93 percent this week with an average 0.7 point, down from last week when it averaged 4.95 percent. At this time last year, the 1-year ARM averaged 5.27 percent.

"Mixed economic reports on the state of the housing market helped hold mortgage rates fairly flat this week," said Frank Nothaft, Freddie Mac vice president and chief economist. "Existing home sales rose for the second consecutive month in May by 2.4 percent, slightly less than the market consensus forecast; however the median sales price was 16.8 percent below that of the same time last year, according to the National Association of Realtors (NAR). In contrast, new home sales fell 0.6 percent and the median sales price was only 3.4 percent lower than May 2008.

On a more positive note, the inventory of unsold homes has lessened from a year ago, which may help cushion further house price declines. The number of existing homes for sale was 15.3 percent below that of May 2008, and new homes for sale fell by 35.9 percent. In addition, distressed properties accounted for only about one-third of existing home sales in May, down from over a half in March, according to the NAR."

Published: June 26, 2009


Washington Report: Home Valuation Code of Conduct

Fannie Mae's and Freddie Mac's controversial new appraisal rules are now coming direct attack by the biggest lobby on Capitol Hill - the National Association of Realtors.

Though the association is saying nothing publicly, officials have confirmed to Realty Times that they are gearing up for a fight in Congress and elsewhere to derail the “Home Valuation Code of Conduct” (or HVCC) for 18 months.

The code, which took effect May 1, has been widely criticized for raising appraisal costs to consumers, encouraging the use of inexperienced appraisers willing to work for rock-bottom fees, and for giving too much control to unregulated “appraisal management companies,” some of them owned by major mortgage lenders.

The Realtors campaign is targeted initially at Fannie Mae's and Freddie Mac's chief regulator - James Lockhart, director of the Federal Housing Finance Agency - and New York Attorney General Andrew Cuomo.

Cuomo's office drafted the HVCC last year as part of a settlement with Fannie Mae and Freddie Mac. Cuomo threatened to subpoena Fannie and Freddie executives as part of an investigation of the companies' appraisal practices. No evidence that an investigation actually took place or turned up problems has ever been made public.

In a call to action memorandum to state Realtor association leaders last week, NAR laid out a strategy of fly-ins to lobby Congressional representatives, and said the association would pursue a legislative fix on the HVCC issue if Lockhart and Cuomo declined to go along with the idea of an 18 month moratorium.

The legislation could take the form of either a stand-alone bill or an amendment that could be attached to an appropriations bill already moving through Congress with a high likelihood of passage.

In identical letters to Lockhart and Cuomo, Charles McMillan, president of the National Association of Realtors, complained that the HVCC is causing significant problems for home sellers and agents - “delays in closings and cancelled sales, which result in artificially low existing home sales.”

In an unusual move June 23, Lawrence Yun, chief economist for the association, attributed a lower than expected increase in existing home resales in May to appraisal problems caused by the new code.

“Lenders are using appraisers who may not be familiar with a neighborhood, or who compare traditional houses with distressed and discounted sales,” said Yun.

In his letter to Lockhart and Cuomo, McMillan said the heavy involvement of lender-owned appraisal management companies leads to conflicts of interest. The association wants regulators - or Congress - to prohibit lenders from using any appraisal report from an appraisal management company where the lender, or the lender's affiliate, has an ownership stake in the management firm.

Published: June 26, 2009


Buyers: Know What You Need to Know in Making a Contract offer

Be it the real estate market in 2009 or any other real estate market for that matter, the structure of a real estate purchase contract offer can be the difference in it being accepted or rejected.

No, the offering price is not the only factor in negotiating a contract to purchase a home.

Regardless of the number of pages in the sales contract, a contract offer can be broken down into 3 separate parts which can be important to the seller: Price, Terms and Conditions.

Each has to be satisfactory in order to obtain seller acceptance. In some situations, full price offers are not acceptable due to the buyer's terms and conditions in the contract offer. In other instances, contracts get accepted and signed even though the offer was much lower in price than other competing offers, but was more favorable for the seller in terms and conditions.

What then is the secret in preparing and submitting a contract offer to buy real estate? This is where the value of an experienced REALTOR and Buyer's Agent is with providing assistance in preparing and structuring the contract offer in a manner that does not create questions or concerns for the seller and their listing agent when it is presented to them.

There is more to purchasing a home than just looking at houses, whether the home is in Iselin or Colonia, New Jersey, in Middlesex County or any other state for that matter.

The first step toward purchasing a home is obtaining Mortgage Pre-Approval from a reputable Mortgage Lender (Mortgage Pre-Approval Versus Mortgage Pre-Qualification), and be sure a copy is included with the contract offer. Why? The first question to be asked by the seller and listing agent at a contract presentation will be "Does the buyer have Mortgage Pre-Approval? And this is where the benefit of a Mortgage Pre-Approval letter provides advantages over a standard Pre-Qualification letter.

Secondly, there is no cardinal rule that there must be some fixed amount that a seller will negotiate from their asking price. Home buyers need to obtain factual sales information about the market area, and section of Town, they are considering buying in before submitting an offer. While it is very likely that sale prices have declined in the past few years, they have not dropped equally in all Towns and in all neighborhood locations.

Remember Economics 101 from Grammar School: "What's true of the whole may not be true of the parts." That is what I am referring to here. Real estate values are local, and various factors influence market value such as buyer demand, amount of homes for sale, mortgage rates, local economic conditions and so on and so on. As important, similar design and size homes may differ in value due to condition and improvements.

In preparing a contract offer, it is important that a buyer obtain a Market Analysis for the property being considered. A report like this can be prepared by the buyer's agent and it should contain information comparing similar properties which are active on the market for sale, homes which expired and did not sell in the past six months, under contract sales and closed sales in the past six months. This information should also provide the asking price history and days on market before sold. With a report like this, a buyer can then have a better understanding of the real estate market and be better prepared when submitting a contract offer.

It is highly recommended that buyers obtain a blank contract of sale and addendums early in the home searching process. Contracts can be intimidating to many buyers. It would be much better to review the contract documents in advance of making a contract offer. Making a contract offer is an important decision. Being properly prepared is an important aspect of making a successful contract offer.

Thirdly, buyers should be completely aware of their personal finances and the total costs of purchasing a home. Buying a home involves down payment, expenses occurred during the purchase, such as mortgage application fee, inspection fees, and closing costs. It is important for buyers to obtain the estimates related to transaction expenses and closings costs. When a buyer is not properly prepared for expenses like these, they could have an affect on exactly how much a buyer has for the down payment which then could affect how much is needed in a mortgage to complete the purchase.

Buyers should be educated and informed when making an offer to buy a home.

Surprises are for birthdays, not buying a home!

Published: June 29, 2009