Bonnie Cox Real Estate Musings

Open House Severn, Maryland, Part Dueux

Bonnie Cox (Prudential Caruthurs) — Fri, 26 Jun 2009 10:35:34 -0400

Now showing!

Open house in Severn, Maryland June 28, 1-3pm

Just ten minutes from Frt. Meade, yet secluded, quite and surrounded by trees.

This 6 bedroom, 2 and one half bath colonial has one of the largest lots in the neighborhood on almost one acre. This mini retreat is in a residential neighborhood, but once you are up in that driveway, y ou would never know it.

You have a choice between relaxing with your iced tea on the front porch and listen to the water cascading in your front yard fountain and pond, or on the deck of your above ground pool, complete with equipment and accessories. Glance around at the woods and wonder how you got so lucky to secure this much peace and tranquility in suburbia.

Inside is georgeous with hand made banisters of cherry and ash, wainscotting and Bolivian Cherry floors and kitchen cabinets. The breakfast bar is granite, large breakfast room has windows on three sides overlooking the woods and back yard. Formal dining room with wainscotting, fabulous family room with large ceiling fan, and french doors, fireplace and formal living room.

Second floor houses four large bedrooms and two full baths. Master bedroom has double ceiling fans, jetted tub with chanelier over tub. Very romantic.

Lower level needs only finishing touches. There are two bedrooms or use one as an office, a large t.v room and a laundry room. French doors open to the back yard. This would be excellent at in-laws quarters. There is already rough - in for bathroom with fixtures already there.

This residence is centrally located between Baltimore, Fort Meade and D.C, but the setting reminds of you of the woods of western Maryalnd.

Directions: 97 to Exit 12, New Cut Road, , Right on Pasture Brook, Left on Grassland, Right on Grainfield Road, right on Grainfield Court. You cannot see the house from the road. Just turn up driveway and follow back.

MLS # AA7069367

Come See this Beautifully Decorated Home! Could be yours before the Fall!

To request a private showing, call Bonnie Cox at Prudential Carruthers Realtors, 410-879-3880

Mini-Retreat! Open House in Severn Maryland June 21

Bonnie Cox (Prudential Caruthurs) — Wed, 17 Jun 2009 15:35:20 -0400

Open House Sunday, June 21 and June 28th, 1pm-3pm

Excellent location in New Cut Farms. You'd never know you were in a neighborhood once you venture down the driveway

to this 6 bedroom, 2 and one half bath colonial. One of the largest lots in the neighborhood on almost one acre, this mini retreat cannot be seen from either neighbor's house during the spring and summer months.

Private and secluded, you can chose to relax with your iced tea on the front porch and listen to the water cascading in your front yard fountain and pond, or on the deck of your above ground pool, complete with equipment and accessories. Glance around at the woods and wonder how you got so lucky to secure this much peace and tranquility in suburbia.

Inside is georgeous with hand made banisters of cherry and ash, wainscotting and Bolivian Cherry floors and kitchen cabinets. The breakfast bar is granite, there is a cook-to and double wall oven. Formal dining room with wainscotting, fabulous family room with large ceiling fan, and french doors, fireplace. Formal living room.

Second floor houses four large bedrooms and two full baths. Master bedroom has double ceiling fans, jetted tub with chanelier over tub. Very romantic.

Lower level needs only finishing touches. There are two bedrooms or use one as an office, a large t.v room and a laundry room. French doors open to the back yard. This would be excellent at in-laws quarters. There is already rough - in for bathroom with fixtures already there.

This residence is centrally located between Baltimore, Fort Meade and D.C, but the setting reminds of you of the woods of western Maryalnd.

MLS # AA7069367

http://matrix.mris.com/Matrix/display.aspx?c=AAEAAAD*****AQAAAAAAAAARAQAAAE8AAAAGAgAAAAQ0OTY1BgMAAAABMAYEAAAAATEGBQAAAAExBgYAAAAFMjM5NTgNAgYHAAAAATYNBgYIAAAAAi0xDQsGCQAAAAMxMDAGCgAAAAEwDQQGCwAAAAV4w4x1ZQYMAAAAAjc1CgYNAAAAATANKws)#R0

This is Getting Ugly – Coming Soon to a Builder Near You.

Bonnie Cox (Prudential Caruthurs) — Sun, 14 Jun 2009 15:48:34 -0400

Anyone who lives in Maryland has probably read in the "Sun" and the "Aegis" about tragedy of Altieri Homes.

Are they criminals? Or victims of the economy.

Altieri Homes is based out of Columbia County. They have been charged by Maryland's attorney general with taking deposits and payments from about 20 homebuyers in Howard and Harford counties without starting or finishing building the homes.

They have also been accused of failing to pay subcontractors, refunding customer's

deposits or advance payments. Many other builders are facing the same thing, but this is the first I've heard of an attorney general getting involved or threatening "severe sanctions" against companies falling victim to the housing market.

In the Baltimore Sun, Douglas Gansler, Maryland's attorney general, stated "My office will seek severe sanctions against builders who operate without being registered (not the case here) or fail to properly handle consumer deposits." He fails to mention that our governments (state and federal) do this on a daily basis without reprisal.

I would like to know why Altieri Homes is being made the example? Instead of folding, as many independent lumber yards in Maryland I know of have done, they simply tried to stay afloat for as long as they could, only to find that the banks were no longer lending. Why aren't charges being leveled at the lending institutions? Fannie and Freddie and the congressmen who conned so many investors into believing all was okay with them?

Many, many home builders have had to close their doors or struggle over the past few years because of the housing market. I know personally the family's of two big ones here in Maryland that have had to either pull their offices out of the state or shut down completely.

As tight as this market is, not enough business is to be had to help cushion a builder to fix any trouble spots or make repairs on construction, which is also one of the problems Altieri faces.

My husband (a wholesale lumber and millwork representative) has been laid off since January 30^th. He has had no job bites other than the odd jobs through people at church every so often. We don't own a big house, we didn't overspend during the "heyday". We have three vehicles . . . none of them under 10 years old, and we have no credit cards. We haven't used them in over six years. We are just now coming to the end of what we had in savings. We never expected him to be out of work this long and my business (real estate) is choppy at best.

I really don't think that the people who provided the jobs should be the one the government goes after when they themselves are the ones who were not only complicit, but created this mess. How do you get blood out of a turnip? Tax it? Are you freaking kidding me?

It does not matter what the attorney general does to Altieri Homes at this point. It is obvious they are broke. The best they can hope to accomplish is to make it impossible for them to ever carry a contractor's license again and possibly take the rest of everything they own.

As for me and my husband, I guess we'll just hold out and do the best that we can until the attorney general starts coming after private citizens when they can no longer pay their bills.

How Rachel Dropped her Credit Score by 87 Points

Bonnie Cox (Prudential Caruthurs) — Sat, 13 Jun 2009 00:58:02 -0400

Did you know that closing a high limit credit card can actually hurt your credit score? This was a very interesting story I picked up at an obscure internet site and something that most consumers should consider when facing applying for a mortgage.

The article involved a story about "Rachel" making a decision to close one of her credit cards. I have done this before myself. If you want to "thin out" the credit in your wallet, choose a card you have had less time, with the least amount of activity on it. Here is what happened:

Rachel decided to close her eight-year-old VISA credit card with a credit line of $18,000. She didn't use the card but once or twice a month and had two other major bank cards that provided rewards points. In order to keep things simple, she decided to cancel the card with the highest credit line. The next month she found out that this one decision cost her 87 points on her credit score, dropping it from 752 to 665. That could mean the difference of whole percentage points in interest on a mortgage!

If you know how credit is scored and what to "tweak", you can build up a good credit score in a shorter amount of time.

A consumer credit score is made up of five key components:

•1. Payment History:

35% Types of accounts (credit card, mortgage, etc.), accounts paid as agreed, number of past due accounts, etc.

•2. Amounts Owed:

30% Balances of current loans, debt-to-credit ratio, proportion of installments still owed, etc.

•3. Length of Credit History:

15% Time since accounts opened, last activity, etc.
New Credit - 10% Recent inquiries, new accounts, etc.
Types of Credit Used - 10% Mortgages, credit, retail, etc.

Keep the major credit cards that you've paid on time every month for longest period of time. History is everything.

Keep the credit card that represents the best contribution to the payment history, debit to credit ration and length of credit history categories.

Ditch the credit cards that are only months old and had only been used intermittently. This gives them much less value on your credit score.

You will not be penalized for having too much available credit. It is better to preserve your credit score with 15 years of established credit history and old accounts in good standing than to have fewer and newer open accounts.

Major bank cards give you more score than department store cards.

Now that you have been armed with this knowledge, here is this week's interest rates, compliments of PCR Mortgage Services:

Conforming 30-year Fixed (up to $417,000) at fully amortized - PITI:

5.625% at 0 points, 5.375% at 1 point

Super Conforming 30-year Fixed ($417K to county limit), fully amortized - PITI:

5.750% at 0 points, 5.500% at 1 point

Jumbo Mortgage (Over $625,501) (we can offer 30 yr. fixed) 5/1 ARM:

$4.500% at 1 point, 4.250% at 2 points

FHA - 30 yr Fixed . . . Regular & High Balance:

Reg FHA up to $417K or county limit - 5.750% at 0 points, 5.375% at 1 point

FHA 203 K Loans Streamline Reno. Loan - 7.000% at 1pnt, 6.000% at 2 pnts

High Bal. FHA $417K to county Limit - 5.875% at 0 pnts, 5.500% at 1 pnt.

VA Loans . . . 100% up to County Limit!

Regular VA (under $417K Incl. funding fee) - 5.750% at 0 pnts, 5.375% at 1.25 pnts

High Bal. VA ($417,001 - county limit) - 5.875% at 0 pnts, 5.500% at 1 pnts

Read more: http://rismedia.com/2009-06-09/my-credit-score-dropped-87-points-because-of-me/

Fear of Failure Destroying this Country

Bonnie Cox (Prudential Caruthurs) — Fri, 05 Jun 2009 15:15:01 -0400

A compelling lesson I learned from my then fifteen year old son in 2003.

After a particularly crushing career development meeting with his guidance counselor at school, My son Rich was visibly upset.

Richard is learning disabled with ADD and Ausberger's Syndrome. He had spent his entire school career in Learning Support.

In 2003, he made an appointment with his guidance counselor because he had a complaint about his teacher. His teacher would not let him take Japanese, something he was very passionate about learning.

During this meeting, Rich was told by his guidance counselor that his reading wasn't good enough to take Japanese or the other class he wanted, Computer Science (take apart and put computers back together again, troubleshoot, etc). Rich was a junior in high school. His grades were all A's and B's.

Richard countered that his grades have always been above board and his teacher's arguement did not support the decision not to allow him into those classes.

This is when the guidance counselor decided it would be in Rich's best interest to schedule another meeting when his mother could come in.

Fast-forward to meeting number two, with mom. I listened to this guidance counselor explain to Rich that in learning support, they get "graded differently" than their normal students. Rich had no idea he was reading on a third grade level . . . and aside from the yearly I.E.P. I saw where they wanted him to be, but not where he was. His guidance counselor told Rich that because he was only reading at a third grade level, he could not take the Japanese class, nor could he take the computer science class he wanted.

(Let me point out that this kid can get through and beat just about every computer game that is out, can read the gaming books and the japanese animie books that he contantly bought with his allowance).

In the car on the way back home, my son cried. I didn't know what to do for him. He is almost sixteen years old and he is crying because as he put it, he was led to believe he was at a certain level because of his grades, that he was doing good, only to be told that he was in fact far below where he should be. Suddenly he went into a rant that to this day, I think should be posted in every school across this country:

"Why? Why did they lie to me? Why are they so afraid I'm going to fail? I'm not afraid of failing!" He took a breath "Failing is how we learn? How am I going to learn anything if they don't let me fail? I'm not afraid of failing, THEY are afraid!" He took another breath and I pulled the car over "They need to let me fail because I only fail if I never try!"

Seems to me this kid was smarter than all the teachers he ever had. And I agreed with him. I took this rant as the gem of wisdom from a kid that despite the arguments from educators to the contrary, needed to experience failure. MANY kids need to experience failure.

Judging by our present state of our union, there are a few congressmen, CEO, companies and corporations that also need to experience failure. Because the cost of such lack of failure is costing the rest of us dearly.

My son still excells at computer games. He's become quite a consiencious young man and a deep thinker. He graduated high school with a 3.2 and the same third grade reading level. It is now 2009 and he reads at a sixth grade level. He's made more progess since leaving school because he's had to. He has no more crutches.

During one particularly bitter lesson recently involving employment, he was discussing with with me on the way to his brother's high school graduation. He asked me, "Why didn't you help me with the interview?"

I asked him, "Rich . . . you just experienced failure . . . something you at one time had asked for. Congratulations! How does it feel to be an adult?" The look I got in return should have been captured on Youtube. He was proud!

Look forward to failure . . . most of our greatest inventions were lying underneath a failed experiment.

It was HOT today . . . and So was I!

Bonnie Cox (Prudential Caruthurs) — Mon, 01 Jun 2009 23:32:43 -0400

Since I am stuck down here at my mother's house for the next five days (away from my familiar real estate . . . Maryland), I have little to do but plan my week's activities for when I get back, watch the news (ugh) and catch up on Active Rain. Both of the latter made me hot under the collar today and in Real Estate, you really have to stay bi-partisan . . . you know how hard that is for me?

1. Formal Announcement that GM is filing bankruptcy and tax payers now own 60% of a failed company. Why we would want it NOW is beyond me. But the Government is getting their piece, Canada is getting it's piece and the union (who helped make sure it failed - the only ones besides our Congress and the President who get health benefits for life). The "other" stakeholders get what's left, which isn't much of what isn't much.

2. Obama's announcement that he wanted to "get in, make the company viable again, and get out." After a big guffaw, I wanted to throw a brick at the screen. Obama is currently building the biggest federal defecit in our country's history and HE'S going to fix GM? With what? A long, direct stare?

3. Obama's $23,000+ dollar date (okay, I'm picking on Obama because NONE OF US can afford a date like that, yet we're paying for it!)

4. The fact that there are people who still think this is all Bush's fault (maybe the media could run, just one more time, the senate debates over how Fannie and Freddie were in good financial health).

I'm beating a dead horse, but I feel beating a live one would have PETA on my case. (I wouldn't anyway. I love horses)

My post yesterday on the Homeowners' rescue package made me realize that even the ones who loved what this administration is doing, are among those that are going to get crushed under the weight of the responsibility this deficit will cause.

I really don't think that Real Estate is the cornerstone of our economy (uh-oh! Now I've said it). You can't buy a house unless you have an income. I've had six families in my church lose their primary source of income. Of those six families, four of them were small business owners. They just went under.

One did custom concrete work.

Another did inner city and HUD restorations

Another was a broker for lumber, molding and millwork to independant lumber yards. 30 of his 49 customers either closed locations or went out of business altogether.

Another did siding and roofing.

Another sold cars (five dealership closed down shop in Harford/Baltimore County from one family owned franchise alone).

Okay, so that's five . . . I can't count. Three families left the area to be with family and I guess share the burden of trying to find work together.

My husband was the wholesale lumber and millwork salesperson for another company. His whole division got shut down.

Chrystler hasn't existed in Baltimore for several years now, Bethlehem Steel is gone and a whole generation of Dundalk/Middle River residents are living on borrowed financial time.

The prayers are flowing in our church. Regardless of who you want to blame for this train wreck, the fact of the matter is, we are going to get hurt. Every one of us . . . whether you are conservative, liberal, republican or democrat . . . unless you are working directly with the White House, you are going to get hurt and if it hasn't happened yet . . . it's coming.

The best advice I can give you is remember what's important. Those very people you may have a disagreement with are the ones who's support you are going to need. Set aside your difference, forget about who's fault it is and let's just do what is right for each other. The government is not going to help you (unless your name is Bank of America or AIG). We have got to get each other through this.

As real estate agents, we have a responsibility to just do the best job at fulfilling the needs we were hired to fulfill. Remind those facing short sale on their homes, or foreclosure that it's not their fault and they are not the only ones.

Agents, we also have a responsiblity to each other. Our market was dealt an unprecedented blow as well. This is why Active Rain has been invaluable to me. We have to take care of each other. Team up and send referrals to each other. Help the rookies and in doing so, you become "referrable" (I liked that from another post that I read, so I'm using it.)

I'm glad my rant from yesterday is over, but now it's time to get to work. Many potential customers need our help. And other agents, lenders, title companies need your support and comraderie.

And stop watching the news. It's depressing!

This Home Owner Rescue Package is Starting to Tick Me Off!!

Bonnie Cox (Prudential Caruthurs) — Mon, 01 Jun 2009 04:53:57 -0400

Hmmm . . . Obama signed a measure allowing mortgage companies and banks to restructure loans for millions of American families facing foreclosure. This is like bandaid that won't stick to the wound! What good is this going to do?

I am so bumfuddled as to the lack of common knowledge of cause and effect within our government. Are they really this stupid?

Why? Why are MOST American's facing foreclosure today?

I keep hearing that people shouldn't have applied for mortgages they couldn't afford. Okay. But that is just the scum on the top of the pond of problems. Most people who lose their jobs can't afford ANY mortgage. How many of those people had income before they had a job? Is anyone paying attention?

How many of our jobs have gone over seas? How many manufacturing jobs? How many food processing plants? How many clothing and textile mills got handed over to foreign countries?

The people who fell for the "adjustable mortgage" play were fractional in comparison to those who are losing their homes. Banks got the bailout money, taxpayers got the shaft. We are still getting the shaft.

Maybe we can all get jobs in the Environmental Protection Agency, the unions or the military, because after the bailouts and the payoffs, there will be no other private sector jobs . . . unless you want to start investing in real estate in Taiwan.

I don't see the rescue package doing much good unless we can somehow materialize some 13 million jobs back to the U.S. of A.

What I Would Give to Hand Customers 2002 in Real Estate Again

Bonnie Cox (Prudential Caruthurs) — Thu, 28 May 2009 00:07:10 -0400

As most of you well know, it gets a little depressing when you read in the news and on blog posts that there is a "second wave" of foreclosures coming. Yeah, yeah . . . just cut to the chase and give me the bad news.

It is even more depressing when customer after customer is putting their home on the market, not because they feel like selling, but because they HAVE to.

How am I, as a real estate agent, looked upon as someone who is going to answer their prayers of profit and bring them back to the 2003 boom, going to tell them, "sorry kid . . . the bank has to approve this sale. Thanks for the granite counter tops and the Jen Aire range but you are still short $43,000"?

Another listing, another short sale potential and I know these people. I am fighting, fighting, fighting to make sure they can have this sale quickly at the price that will afford them at least enough for a 1st month and security deposit.

Where are the bailouts for these people? These people did not buy a house they couldn't afford. These people had their businesses wiped out from under them when the construction industry dredged creek bottom. They USED to HAVE an income!

Before people start getting angry and start heading to washington with pitchforks and torches, let me tell you how these people are handling this.

There are some people that are dealing with one of the most crushing blows of their lives, as a chance for a fresh start.

Some people are looking at this as "maybe we are putting too much importance in material things." They are looking at this a a chance to step back, take a deep breath and get back to who they are and why they are here. They have faith that although disapointing, an answer is coming. They were supposed to have been "somewhere else."

I am going to work my tail off to find these people a qualified, motivated buyer while at the same time hoping that something happens where they can withdrawl their home off the market. There are more important things in live then a nice house in the woods with a 20' x 40' deck. There are more important things in life than getting another commission on another potential ship wreck.

Harford County Maryland is Metropolitan Down on the Farm

Bonnie Cox (Prudential Caruthurs) — Tue, 26 May 2009 22:17:32 -0400

To undersand why I love Harford County, Maryland so much, one would have to understand where I came from. I was born just outside of Philadelphia, lived most of my childhood in Delaware and most of my children's childhoods in upstate Pennsylvania (The Endless Mountain Region).

I moved to Maryland because my husband had roots in Maryland. Jobs were scarce in Pennsylvania. When the boys finished high school, we moved to the "land of plenty".

We decided to rent to get to know the area before we committed to purchase. The first area we moved to was Jarrettsville. I remember the name scared me. It sounded like a town I would find in the Ozarks. However, our backyard was almost an acre and over the fence was a horse farm I could view from my kitchen window. In the spring and fall, when the weather permitted open windows, You could hear the horses whinney from inside the house while eating your breakfast. I was in HEAVEN!

After a year and a half, we decided on a more modern house in Forest Hill. By October of 2006, I was getting quite comfortable with my surroundings and the culture shock had long worn off.

It didn't take me long to realize that you really could not find a better place to live. You are surrounded by rolling hills and farms no matter what part of Harford County you are in. You have upscale neighborhoods, you have first time home buyer neighborhoods, you have new homes and traditional.

You can drive to Bel Air and find everything you need from a good doctor to your choice of mattress stores. You have Walmart, Target and Macy's in one town! And if you want to see a change of shopping scenery, WhiteMarsh is 20 minutes away, Baltimore is 30 minutes away.

People in Harford County commute to APG (Aberdeen Proving Grounds), Bel Air and Abingdon, Baltimore and D.C. to work. Many commute using Light Rail and MARC trains to connect to the METRO. I have taken them many times to D.C. It's easy to plan a Saturday in D.C. using http://www.mtamaryland.com and http://www.wmata.com . It really takes a lot of stress off your trip.

If you would like to leave the metropolis behind and move in the other direction, try a drive through the hills of Monkton, Street, Whiteford. Get lost on some of those back roads that wind in and around Rocks State Park or Gunpowder. If you are into fox hunting country, the back end of Jarrettsville, Monkton and across the county border into Hunt Valley, Long Green Valley and Worthington Valley, home of baseball great Cal Ripken. Here you will see beautiful horse estates, white-fenced pastures and state of the art stables where the horses live in style.

Back home in Harford County, you too can live fit with any number of health and swim clubs that dot our county. We probably have more health clubs per capita than any other county in Maryland. (I could be off, but it sure seems like it).

We also hav the Ma and Pa trails, Anne's Playground which is a huge playground donated by the community of Fallston to commemorate a little girl who was killed by a drunk driver. This playground is in honor of her and other children who were taken too soon from their parents in tragedies. You can read more about this here http://www.anniesplayground.net/

We also have the Farm Fair every year at the Harford County Parks and Recreation, located on Tolgate Road in Bel Air, right next to the Harford Equestrian Center. This is a week of fun for everyone. If you own a business you can rent tables or tents and get to know some of your future customers. You can also just bring the kids, ride some animals and eat some great food.

Most important, I think, is the people I have met here in Harford County. After only being here five years, I feel like a native. People here are friendly, open and eager to help each other.

Anyone contemplating moving to Harford County will feel at home quickly. And if you are in need of a neighborly agent to make that happen for you, I know one!

Memorial Day in Harford County Maryland

Bonnie Cox (Prudential Caruthurs) — Mon, 25 May 2009 17:56:36 -0400

This Memorial Day was just an awesome day. Lazy . . . yes. Food? Yes. Muggy-but-not-to-hot weather with some moisture laden clouds here and there with a rumble of thunder. Some sun streaking through the clouds heating things up, then cloud cover again.

We had done our celebrating yesterday and Saturday. We had a picnic at our church and during service on Sunday, our Pastor had everyone who served in some capacity in the military stand up. I was in proud company even though I was a weekend warrior from '82 - '86. We each were given time to state the branch of service, years served and where while we were honored with a round of applause. (I could no longer fit into my dress greens because I have gained 40 pounds from the time I wore the uniform).

Today as we were fixing some lunch at the house, my step son's mother called on her way back from Bel Air to tell us that there were military helocopters flying over our house. We ran outside onto the back porch and looked up.

Four Black Hawk helocopters from Aberdeen Proving Grounds were flying directly over our house. They were doing a flyover of Bel Air, Edgewood, Forest Hill, Aberdeen, Belcamp, Jarrettsville, Fallston, Baldwin, Darlington and Abingdon.

Is there anyone here that made it to Aberdeen today for Memorial Day?

Just as we went out the back door, the sound of these beautiful beasts tore through the peacful day. They were flying in two-by-two formation and they were close enough to the ground you could see the outline around the bay doors. My stepson was in awe! (He's 15 years old and loves military history).

It is really humbling to realize the sacrifices these men and women in uniform give to be of service to their country. I would really like to see our leaders not take them for granted.

God Bless each and every one of these men and women who much more than a mention and a prayer on a weekend in May every year. They are your sons, daughters, mothers, fathers, aunts and uncles, grandfathers and grandmothers, brothers and sisters.

They are your family.

Fear of Change can Hurt Your Business

Bonnie Cox (Prudential Caruthurs) — Sat, 23 May 2009 23:47:40 -0400

Most people don't like change. It means having to re-adjust routine, change habits and throw your order of process into upheaval. You are leaving your comfort zone. Most people don't want to do this, so those people fail. Even when that change could mean something GOOD people balk.

Real estate is no different. You're used to a sellers market, bidding wars and offers that ascend from the list price. Well gone are the days you could just punch a for sale sign in the yard and have several offers on the table in front of your customer in a week.

I keep hearing the old saying over and over again in my head:

If you keep doing what you're doing . . . you're going to keep getting what you're getting.

When my income, my open house activity and my listings hit a plateau and I wasn't at my goal, I knew I had to do something different. I totally believed in what I was doing, I enjoyed it, but it became routine. When that happens a complacency takes effect and it's picked up in your presentations, your follow ups, and even phone communication with your customers.

Somehow, you realize that you have gotten away from your purpose, but you are doing everything you know to do, and nothing new and exciting is happening. This also happens when you TRY to do something different, but slide back into the same habits and routines because they are COMFORTABLE. Even seasoned agents run into these roadblocks.

When I began working in real estate, I was excited. It wasn't because I saw all this potential money in it, because it really wasn't about income. The subject matter of that site was something I was passionate about because its focus was on helping people find that perfect home . . . something I really never had.

I jumped right in with just my passion alone and not much substance (knowledge) and I was getting lost. I had to stop and take a step back to see where I was going. Sometimes when your nose is to the grindstone, you can't see the goal in the distance.

I was always used to working alone in everything. Even with my marketing business five years ago, I did everything alone. I tried partnering up with an old pro in my office. That gave me a whole new perspective and fresh look at how things are done.

That's when I felt it. And that's when I began re-animating! I took the focus off myself and trying to accomplish 2001 sales in a 2009 market and instead focused on helping the very people that this market victimized. I began going about my business with a consultative point-of-view, not from a sales point of view. Then I realized something!

I REALLY DID want to help people! I had been there! These people weren't looking for the same huge prices they used to be able to command. They wanted someone to understand! They wanted out from under and they wanted help.

I have seen agents who weren't used to working as hard, who got into the business during the bull market of real estate, freeze up. Some have left the business. Those who saw the underbelly of what was really going on stuck around. The agents that really wanted to help people.

Now even though this is a rather extreme example of fear of change, but it was an eye-opener and a wake-up call.

Give a little something. You don't want to just take money from people, there's no fulfillment in that. You want people coming back because they believe you. They trust you. Make them feel good about hiring you, recommending you. The more you give, the more you will get in return and the more fulfillment your real estate business will give you.

Memorial Day a Great Day for Holding Open Houses!

Bonnie Cox (Prudential Caruthurs) — Fri, 22 May 2009 22:56:33 -0400

I was surprised to see how many open houses there were listed in MRIS today. I am not holding one myself, but I will be attending a couple of them.

Memorial Day weekend is a great time to hold open houses, have yard sales, etc. A number of our agents here expect a huge turn out.

Remember, not every Open House is going to yeild a contract on your house. We've seen less and less of this today on our local market here. But it certainly is a great way to drum up some leads and get your cards in people's hands. Almost everyone that comes in that door is either looking to buy now or in the future, or knows someone that is in the market to buy or sell.

I have been torn on the idea of holding anything on Memorial Day weekend because I think the holiday has been commercialized just as much as any other holiday. However, holding that open on the Sunday before the holiday keeps me from feeling that I'm treading on the memories of our soldiers.

It's also a time when family from out of town is visiting. If they are thinking of relocating, there couldn't be a better time to go see some houses in the area, since they are already there. I have seen a trend lately of family wanting to get together in these tough, economic times, for support of each other and being close enough to help out if needed.

Retireing moms and dads moving closer to their children, who have children of their own that may need babysitting, families getting bigger homes so their parents can live with them, siblings just entering the workforce who purchase together because they otherwise couldn't afford to do so.

Don't be afraid to hold opens on holidays. I've met two people during our last open house that both purchased their previous homes on Mothers day!

Remember your Customers in Legislation

Bonnie Cox (Prudential Caruthurs) — Fri, 22 May 2009 09:57:43 -0400

In Harford County, on the 26th of May, the county council will be voting to raise property taxes in an economy where the private sector has lost jobs left and right, homes are losing value, people are getting foreclosed on, and amazingly, the only people that are asked to tighten their belts are the very people that are suffering from financial malnutrition in the first place!

I know there have been quite a few counties in Maryland coming up for council meetings that are voting on this same issue (whether or not to raise propety taxes). You not only need to be out in force for your own interests, but for the interests of your customers as real estate agents.

A great way to build rapport and keep your names in your customers minds is to keep them on top of what is happening with property owners rights in your local area, your state and federally. Let them know what is about to happen to their taxes, their property and income. You can accomplish this without appearing partisan politically, but partisan for your customers interests.

Stay vigilant and keep your customers informed. They need you now more than ever!

3 Examples of The Power of Positive Marketing

Bonnie Cox (Prudential Caruthurs) — Wed, 20 May 2009 23:57:30 -0400

Everyone has heard of the staple books in positive thinking, like "The Power of Positive Thinking", "Think and Grow Rich" and "Hung by the Tongue". Anyone affiliated with any type of marketing has been told to "Just go and get these books". Little is understood of the power of the concepts within these books.

It's not just your attitude . . . it's your actions. How you put your thoughts into words matters when people are coming to your office to decide if they are going to use your services . . . or not.

What am I talking about?

Let us assume that everyone knows that people are more likely to make purchases when they are in a good mood. One would assume that if you can make people feel good, then you are more likely to get them to buy from you.

Is that a safe assumption?

Now, in real estate, how do we do that?

Take a look at these two examples:

Agent 1

"I'm tired of seeing people get ripped off by using THAT broker . . ."

"That agent isn't doing you any favors, why don't you let me sell it for you."

Be honest with yourself and tell me that hearing how bad another company's products or services are doesn't turn you off.

It surprises me how many people use competition bashing to sell their own product. The LAST THING you want to do is remind people that they can get ripped off real estate. It's a very unprofessional, amateur method of asking for a sale.

Studies have show that people respond to positive reinforcement. This is evident in just about every means of communication. It is no different when reading information on a website or talking to a customer while on a listing appointment. If you are using any other methods of marketing, like a newsletter, special reports, follow up emails, or text ads, you want to remember this simple principle when creating your copy:

Positive Sells!

Here are some other examples of different web site copy I picked up off the internet:

Website from agent 1

"I am a multi-million dollar producer.

Website from agent 2

"You want to command a premium price for your home. Let me walk you through a few steps to improve curb appeal"

Which agent would you feel more inclined to purchase from?

Did you notice the positive approach of Website 2? The "I's" are replaced with "you" or the customer. They don't care what you know. They don't care how much you have accomplished. They called you so they more than likely already know.

They want to know how you are going to help them. What can you do for them. Mention your accomplishments on your website by all means, but the focus should be on your customer. Write your copy as if you are speaking directly to them.

Here's another, more subtle example:

Agent 1

"Many will lose their chance to cash in on that $8,000 credit if they don't go to settlement by November 30th. Don't you be one of them! While others are racing ahead of you, you will be sitting out in the cold, wondering where it went!"

Agent 2

"You are smart in starting this early enough to take advantage of that $8,000 tax credit."

It's the same "limited time offer" technique with a completely different focus. Agent 1 tells the person what they will lose whereas agent 2 congratulates the customer in taking the initiative and focusing on what they will gain.

Injecting positive words, positive motivation and positive outcomes gives Agent 2 more credibility and makes the person reading it feel good about themselves, like they've already accomplished something.

People don't like being turned off. They don't want to hear about the bad things that can happen to them; especially in this market where many are facing enough bad things happening.

What you want to do is empower people when you are consulting with them, writing your ad copy or web site copy. Put them in the position of seeing their success. Congratulate them on the time they spent researching realtors before deciding on you. You want them to want to be around you. More importantly you want them to recommend you!

A Hard Lesson In Humility

Bonnie Cox (Prudential Caruthurs) — Tue, 19 May 2009 23:06:37 -0400

Internet marketing, once you get good at it and gain a little recognition, is a heady, seductive high. This is what I did for a living before I ventured into real estate.

In the eleven years or so that I've been on the internet, I can proudly say that I have been the Empress of Email, and I have also seen exile. With the first few deals I put together online, I was on my way to internet fame. I became good at wheeling and dealing, I was persuasive. I was courted by network marketing companies, sales team leaders and affiliate managers alike to train their sales people, sell their goods, or write a testimonial.

From 1999 through 2005, I either assisted, partnered with, or created myself:

A 1500 person sales team in one affiliate marketing company

Launched one lead generation and management company from $0 to over $2 million in revenue in less than a year.

Partnered with another to launch another lead generation company.

Was a leading revenue producing advertiser for five different companies.

Launched my own lead generation affiliate program

Published two newsletters and an e-course on internet marketing

Owned my own advertising company and developed international and fortune 500 customers.

Was invited to speak or train at conferences, launches and seminars

Stop!

Yes it did. It all came to a stop. It was painful and it was costly.

The reason my services took off in the beginning of my "Hooked-on-Marketing" chapter of my life in the first place, was because I went out of my way to help people. I enjoyed the interaction, the camaraderie, the successes I felt that I helped others in creating. People whose faces I never saw became like family. I was making money hand-over-fist and I felt good about myself and what I did. I felt useful! So what happened? Why did it all come to a stop?

Money. The number one reason anybody does anything stupid.

I did two things wrong.

1. I began making decisions based solely on money.

2. I did not prepare for growth.

I couldn't delegate tasks. I wanted to handle it all. I wanted responsibility for it all. I wanted to be the boss. I wanted to be in total control. (looks really stupid when it's written down, doesn't it?)

One by one, things started falling apart. The same thing can happen in real estate.

New people getting in (hello! wave, wave!) wanting no part in sharing a deal because of money, pride . . .whatever else you want to throw in there. More experienced real estate agents that get so busy that details of deals fall through the cracks or their customers feel as if they are waiting on hold with Comcast and there seems to be no personal interest from the person that's getting 3% of their proceeds from the sale.

If service is going to suffer because you become successful, consider hiring an assistant or better yet, teaming up with another agent. It doesn't have to be permenant. You can even do this on a couple of deals just to get through a busy period. Regardless of how busy you become, you make sure your customers get the best possible service, or they will go elsewhere.

This is a tough market. There are hungry agents out there that are more than willing to help you or better yet, take over for a customer that cancels a contract because they are not happy.

Leave your ego at the poker table. Don't sacrifice smaller, yet more loyal customers to go after the business of one big sale that may not even sign with you. Your reputation is everything. There is no deal out there big enough to replace your reputation.

The morale of this story, which is most probably not only mine, is this.

Remember the purpose in which you set out to do something in the first place, and remember it as offers are flying at you. You do what is right, what is ethical and what is in the BEST interest of your customers, and the money will come.