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Solar tech supersizes savings

By Bernice Ross, Friday, September 11, 2009.
Flickr photo by <a href="http://www.flickr.com/photos/nikonvscanon/3166595271/">david.nikonvscanon</a>.

When you think of "solar energy," you probably envision those big ugly solar silicon panels from the past. Today, homeowners have exciting options not only for powering their entire home, but for also using solar energy to power their laptops, cell phones, and even their car batteries when there is a power outage or when they are traveling.

With oil prices climbing once again, it makes sense to look for energy alternatives. There are a number of different ways that you can increase your energy efficiency, simply by managing the sun's energy.  more...

Avoiding private mortgage insurance trap

By Bernice Ross, Tuesday, September 8, 2009.
Flickr photo by <a href="http://www.flickr.com/photos/drb62/3154824756/">DRB62</a>.

DEAR BERNICE: We just received a letter from our mortgage company telling us that they can lower our monthly payment by $100 per month if we refinance our house. We have owned our house for five years and estimate that we have about a 20 percent equity position. After discussing this situation with the lender, I discovered that all the lender was going to do was to drop our private mortgage insurance (PMI). When I asked why the lender couldn't just drop it without us having to refinance, the lender told me it wasn't possible unless we refinanced. Lowering our payment by $100 per month would really help us out. Do we have any other alternatives? --Shane B.

DEAR SHANE: I continue to hear stories from homeowners who are experiencing what resembles a bait and switch from their lenders. The scenario goes something like this:  more...

Blogs, dogs, reruns and social media

By Bernice Ross, Tuesday, September 8, 2009.
Flickr photo by <a href="http://www.flickr.com/photos/maoman/11164188/">Maoman</a>.

How can you convert more leads from the Web? What do you have to do to build a social media presence that will generate leads? The answers may surprise you.

As Web 2.0 continues to mature and Web analytics become more common, a series of best social media practices are beginning to emerge. Here are some of the themes that appeared repeatedly at the recent Real Estate Connect Conference in San Francisco.

1. Share openly and share often (from a presentation by Jeff Turner)
Vanity marketing is dead. The latest jargon for describing what is happening on places such as Facebook and Twitter is "Whuffie." This refers to social capital. In other words, the way you succeed with Web 2.0 and the social media is by helping others. The more you help others, the more help you will receive in return.  more...

Seller disclosure: police calls included

By Bernice Ross, Thursday, September 3, 2009.

DEAR BERNICE: We live in California and are currently in a lawsuit against the sellers of our home two years after the sale. In the winter of 2007 our agent told us that he knew some folks that had been thinking about selling their home for a while. We saw the house and loved it because it was in a very desirable area, and we made an offer.

Almost immediately after moving in, we discovered that the tenants renting the house across the street were a group of six "20-somethings." They were some of the hardiest partiers we'd ever experienced, throwing parties three to four times per week. A party starting at 2 a.m. on a Tuesday was common.  more...

How to buy a 'lucky' house

By Bernice Ross, Tuesday, September 1, 2009.

Sellers often stage their houses to make them more attractive to potential buyers. What can you do as a buyer, however, to make sure that you're buying a "lucky house"? The ancient Chinese tradition of feng shui has some interesting answers.

How can you recognize a lucky house vs. one that is unlucky? Here are some of the key principles from feng shui that can assist you in finding your personal "lucky house."  more...

Hyperlocalism lives up to hype

By Bernice Ross, Monday, August 31, 2009.

How can you get to the top of the search engines in your area? The answer may be cheaper and easier than you think.

Achieving top placement on Google or any other search engine can be both difficult and expensive. Even in small towns, you still may be competing for search-engine placement with your national firm, your local office, plus any other real estate companies who serve your area. You also compete against your local multiple listing service as well as Realtor.com.

To gain better exposure, you could use pay-per-click (PPC) ads.  more...

Sellers face conversion of illegal unit

By Bernice Ross, Thursday, August 27, 2009.

DEAR BERNICE: We purchased our home a number of years ago. The previous owner converted the garage to mother-in-law quarters without a permit. It has a stove, refrigerator and a separate bath. Our agent is telling us that we have to convert it back to a garage. Is this really necessary? --Wanda B.

DEAR WANDA: This is a very difficult situation. The answer to your question is "maybe." Please investigate the following issues.  more...

Seller financing's dark side

By Bernice Ross, Wednesday, August 26, 2009.

DEAR BERNICE: I hope you might be able to help (or at least point me in the right direction). I am in communication with an investor who is liquidating seven single-family residences. We were about to use seller financing until one of his friends told us how he: 1) sold his property "subject to"; 2) the bank exercised the "due on sale" clause; and 3) called the note due.

Long story short, I would like to buy and hold these properties. They have already been rehabbed; they cash-flow well; and they have Section 8 tenants. I need to find approximately $500,000 of long-term financing. --David C.  more...

Business thrives on 'Whuffie' factor

By Bernice Ross, Monday, August 24, 2009.

What does it take to succeed in the social networking space? Lots of people have theories, but have you heard of "Whuffie?"

As I was browsing through my Twitter feed, I noticed that there was a live feed from DaknoTV (@rewebcoach) for the Real Estate BarCamp in Virginia Beach. If you're not familiar with the BarCamp concept, it's a face-to-face meeting for those who have formed social and business relationships online. The first BarCamps were composed of bloggers who wanted to connect in person with other people who shared their love of blogging.  more...

Selling Mom's house to pay health costs

By Bernice Ross, Thursday, August 20, 2009.

DEAR BERNICE: I appreciate your helping people like me who are like babes in the woods when it comes to real estate stuff. My mom died recently in an out-of-state nursing home. I am the executor of her estate. Mom had no money and neither do I, but her house is paid for. That's a good thing because I am recently unemployed.

The house sits on three-fourths of an acre that was originally two separate lots. The roof has major leaks, one of which caused a 2-foot-by-4-foot hole in the ceiling. Possums have taken up residence in the attic. They stare at me with impunity. Raccoons are now living under the house. I use bug spray to keep them from moving into the main house.  more...

Shift your real estate game plan

By Bernice Ross, Monday, August 17, 2009.

Have you ever been certain an event would turn out one way and then were devastated when it didn't? If so, you know what it's like to be "slain by an expectation."

In the last few weeks, my closest friend and mentor "died" five times due to heart failure en route by helicopter for what ultimately turned out to be successful heart bypass surgery. Two weeks later, I had a problem that put me in the emergency room. Days later, our beloved chief operating officer was diagnosed with breast cancer. While my mentor has had ongoing health problems, I wasn't prepared to have a personal health issue nor was I prepared for our COO's problem. I was slain by the expectation that "it can't happen to me."  more...

Are you eligible for a loan mod?

By Bernice Ross, Thursday, August 13, 2009.

In case you haven't heard, the Obama administration has asked major lending institutions to commit to doing at least 500,000 loan modifications before then end of 2009. Is this a viable solution for your home?

Have you lost your job? Has your income declined significantly since you first purchased your home? Has your mortgage readjusted to a higher interest rate that you can't afford? If so, there's a good chance that you may be eligible for a loan modification.  more...

Loan mod may be better than selling

By Bernice Ross, Tuesday, August 11, 2009.

DEAR BERNICE: I need some advice to know what to price my home at when we do sell. We got an appraisal on our property and it said we lost more than $100,000 in value. Is there any way to sell it for what we paid for it? My husband thinks if we refinance our home we could sell it for what we paid for it originally. Is that true? --Rachel D.

DEAR RACHEL: The price you paid for your property has no bearing on what it is worth right now. A good analogy is the stock market. If I paid $100 for IBM stock and today it's selling at $60, I would have to settle for $60 a share if I wanted to sell today.  more...

Finding the right loan mod company

By Bernice Ross, Monday, August 10, 2009.

If your clients are facing foreclosure and ask for help in obtaining a loan modification, how would you advise them? Can you legally assist them or do you have to refer them elsewhere?

Last week's column looked at how loan modifications work. The next question to address is whether working with loan modifications makes sense for your business.  more...

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