BOB'S - EastOfTheArch - BLOG

It's HERE - The Federal Budget

2009-07-23T09:54:00.002-05:00

You just have to spend some time with this! See where your tax money is planned to go. This graphic is amazing. Be patient with it. Click on full screen (the black box) and then help in the upper right corner. Then be amazed!

New Blog

2009-07-05T13:42:00.002-05:00

Well, readers, I've started anothe blog site to eventually replace this one. It is more consumer centered, and I am going to keep it more active! Really!

Please check it out and join in:

http://reconsumer.wordpress.com/

Bob

My View of Our Local Housing Market

2009-06-05T11:39:00.003-05:00

The good news is that we are experiencing a spring surge in market activity, as expected! The local inventory has shrunk to about a seven-month of supply (homes on the market divided by sales rate) which classically indicates a “normal” market compared to the near 12-month supply at the start of the year. It's a much better time for buyers and sellers.

Well, not so fast on calling it normal, though. Much of the increased sales activity is being driven by first time home buyers and distressed property sales, and is generally in the lower price ranges. The $8000 tax credit for first time buyers, extremely low interest rates and the lowest home prices in years are attracting smart buyers into their first home purchases. The other driver for increased sales is foreclosures and the sale of bank-owned properties to investors. This is generally not the same buyer group, as many of these properties are in poor repair and often will not qualify for a loan by first time buyers with limited funds or resources for improvements. With these exceptions, then, there are relatively few active buyers compared to what we have seen in the past “normal” market. From a price perspective, it is still very much a buyer’s market.

Our local market has been immune from the extremes experienced in other parts of the country, but general economic conditions have certainly driven home prices lower in our area as well. It would be tempting to “call the bottom” on our home prices because of the spring surge in sales activity, but that would be whistling in the wind. Every economic indicator I’ve studied indicates that home prices will continue to fall, driven primarily by a dramatic increase in foreclosures and their eventual sale prices. Our local employment and general economic conditions are important factors, of course. Nationally, it appears the administration’s efforts to date have been ineffective in restoring a general increase in home equity. The real bottom is probably yet to come.

So, what’s it all mean to us? Well, buyers, there are many wonderful homes on the market at attractive prices, with low cost financing that may not last. Sellers, the normal spring surge in activity is providing sales opportunities today that may not last. If you, or anyone you know, are thinking about buying or selling a home, this may be just the time. Remember, all real estate markets are local. Please contact me and let the East of the Arch Team provide you professional service in meeting your needs in this market.

NEW SITE

2009-05-20T10:00:00.003-05:00

I have added a new site just for First Time Home Buyers to provide some useful guidance to my favorite kind of clients.

http://www.firsthomebuyersite.com/

Please, if you know of anyone considering that first home, forward this post to them. It may help them decide if this is the time for them or not.

As always, I appreciate your comments. For you seasoned owners, I especially invite you to comment by eMail if you want to pass on your thoughts and advice. I may add an edited section of comments to this new page. Thanks.

First time buyers, don't hesitate to send me a private email if you have a question.

Bob

dcbob@charter.net

Big Numbers in The Budget

2009-05-04T10:33:00.004-05:00

I love this video that puts the budget in perspective! Grin and bear it........

The EXPO

2009-04-29T08:15:00.004-05:00

There's only one subject possible this week - OUR SPRING EXPO! It has consumed all my "free time". Who knew it would take so much preparation? So, if you haven't decided to join us this coming Sunday, there's still time; do it now! You will enjoy it, I'm sure, and I would love to see you there. Just click below to register.
http://www.eastofthearch.com/pages-request/SpringExpo.aspx

The stock market (and your IRA)

2009-04-16T08:10:00.005-05:00

Remember my blog on the mark-to-market accounting rule awhile back? Oh, well. I was one of those believing that a nasty change in accounting rules caused much of the collapse in our finiancial markets (there were and are others who disagee.) Guess we will now see. The accounting rules were changed back early this month, and the stock market should suddenly look better, according to the believers. Above is a chart I borrowed from John Kroot's Newsletter. John is a local brach manager at MetLife Home Loans and below is a link to the full story. Perhaps you should get to know him for mortgage loans. Ok, I'm a little over my head here, but I find the chart pretty interesting. Let's watch how this affects the"recovery."

http://www.mmgweekly.com/w/index.html?SID=ee0c1616bbc82804b2f4b635d4a055fb

Stand By Me

2009-04-08T22:53:00.002-05:00

Let's take a little musical break with this video. It's one of my favorite songs and I hope you enjoy it too. I often feel the sentiments expressed in this song at the closing table, watching over my clients as they put the finishing touches on their purchase or sale. Being there for them feels much better than a pay check .......... really!

http://vimeo.com/moogaloop.swf?clip_id=2539741

A Great Time For The First Time

2009-03-26T20:20:00.002-05:00

OK, Moms, Dads, neighbors and friends:

It's time to talk to the renters you know. There has never been a time like this for first time buyers. Tax incentives, low interest, low prices and a great inventory. This window won't last forever!

Remember, first time buyers are my favorite clients. If you refer someone you know to me, I'll treat them like family.

Here's a little You-tube Vidio that you can forward to anyone needing your advice.

http://www.youtube.com/watch?v=VGHPf0YmrTI

Doggy School

2009-03-21T18:24:00.008-05:00

Sadie and Vegas took Tina and I to Doggy School today. Either one of these babies can drag Tina down the street, but the training has made a world of difference - even after one class! Sadie ,on the left, has been with us a while, and Vegas is a lab puppy who thinks he's the boss. We're learning to think like dogs, and they appreciate it. Now if we could just get the dogs to think like Real Estate agents, I'd have some help in this dog-eat-dog world - ha.

"Vegas, bark if the price is too high! Sadie, whine till they bring down the interest!" Oh well ..............

Mortgage Information Site

2009-03-20T15:17:00.004-05:00

Here is an interactive site that provides some new information for mortgage holders:

The U.S. Treasury Department went live on March 19 with its Making Home Affordable program, which aims to help home owners refinance or modify their mortgages.

The campaign includes a Web site at makinghomeaffordable.gov as well as a telephone hotline number at (888) 995-4673.

The federal government is targeting 9 million home owners whose loans are held by Fannie Mae or Freddie Mac.

Also, interet rates on mortgages dropped belpw 5% this week - check with your lender!

Tired of Real Estate? Let's Go Fly!

2009-03-13T09:36:00.006-05:00

Let's take a break from Real Estate and the economy.

Ever wonder what's going on up front in the cockpit of a commercial jet while the passengers are putting their trays in the upright position and looking for their shoes?

Take a ride on the Concorde as the crew slows this beast from twice the speed of sound to a stop at JFK. Have your sound on while the captain invites you to ride along.

Concorde Landing

Has Our Market Turned Yet?

2009-03-06T10:25:00.003-06:00

Hear my free monthly recorded market up date at (800) 675-1811, extension 4003.

As Joe Friday used to say "Just the facts, Mame."

Like to Walk???

2009-03-04T09:08:00.002-06:00

I stumbled across an interesting site that evaluates a home on it's "walk ability", based on how close or far it is to restaurants and shopping - in short, can you walk to stuff? It is simple to use and the graphics are terrific. Try it, it's fun!

Walk Score

While you are there, our old friend Zillow will give you an estimate on what the property is worth at that address. As I've noted before, Zillow estimates are not all that accurate, but getting better as more data goes into their massive data base. Don't take it to the bank. It is also fun, though - their graphics are awesome! I do note that on most homes in our area, Zillow indicates our prices are seeing a slight recent increase. They appear to be calling the bottom, and we all hope they are right. They also correctly indicate that our local market has been much more stable than Illinois as a whole. Check out your home value, the graphics are pretty, but don't get to excited, high or low, about their estimate of what your home is worth.

Earn A Beer or Cup of Coffee

2009-02-28T13:02:00.003-06:00

I just finished a bunch of changes and additions to the new web page (EastOfTheArch.com, of course). More to come, when I have the energy. While it is kind of fun, the Real Estate web page providers sure make it hard to build a site. I'm cross-eyed from using their editor.

OK, here's the deal. For every misspelled word or error you find, I'll buy you a beer or cup of coffee. That goes for everybody except Mary Jo because she is a professional editor, and I could never meet her standards - even if I agreed with them. I try to tell her spelling is an art form - ha.

I hope you get value from some of the many pages I added.

Bob

So What is Happening to our Economy????

2009-02-21T11:41:00.012-06:00

I'm reminded of a story where a child was standing next to Einstein, gazing up at the vastness of stars and the universe. "So, what's it all mean?" she asked the father of relativity.

"Beats me!" he replied.

True story or not, that's about how I feel when considering the the news, political and otherwise, about the economy. Is it as bad as they say? I don't think so. Is our area fairing better than what's reported in other areas? I think so.

I will try to keep my clients informed about our local Real Estate market - it's what I do. In the interest of the larger picture, however, let me provide a source I enjoy to keep the big picture in prospective. Below is one of my "must read" blogs every morning. Every once in a while Gerry hits it right on the head. I won't reproduce her stuff because it doesn't seem fair. Even though I seldom will point you to another site, you might enjoy her thoughts as much as I did.

Gerry's Blog

Bob

So You Wanna Get Into Real Estate?

2009-02-21T10:13:00.004-06:00

This past week I’ve been taking the continuing education training required to retain my license. I am certainly no stranger to the classroom. I have a bachelors degree from Oklahoma City University, a masters from Xavior University, have taught at the FAA academy, and been an organizational change consultant, spending many hours on both sides of the podium. Given all that, I have been impressed over the years with just how extensive training is in the Real Estate profession, and I’ll share a little of it with you.

Basic training that leads to a State license examination is where we all start. The required course is available in the area, but I took an approved correspondence course that met the requirements to become a Real Estate salesperson. There is a lot of material to learn, but the questions on the State exam are often practical sense once you understand the concepts. With a new license in hand, the real training then starts with the agent’s broker. Most large offices have an internal training program, and there is a lot of one-on-one time with the broker – after all, the broker is responsible for an agent’s performance. This internal training is informal and mixed with a lot of practical experiences.

Additional formal training is also required throughout a Real Estate career. Every license holder, both agents and brokers, must complete a minimum of continuing education to retain their license. Ethics is one of the required courses and then there are electives. I just finished some electives that involved the cultural diversity of the population we serve. You may also see certain designations that have been earned by license holders that have taken additional training beyond the minimum. Ask your Real Estate professional about their training. I am sure they are proud of their achievements, and you may find it interesting.

The professional standards and accountability of Real Estate license holders is pretty impressive. I wish I had time and space to tell you more about it. The State of Illinois is seriously considering raising the standards even higher. It may be that in the future that all license holders in our State must be Brokers, which further increases the education requirements. I personally support this move in this tough economic environment. The business of Real Estate is certainly changing, and consumers deserve the highest level of professional representation.

Speaking of standards, there is a difference between a state licensed agent or broker and a REALTOR. I hope you know that only a license holder in good standing as a member of the National Association of Realtors can call themselves a REALTOR. The big difference for the consumer is that REALTORS voluntarily abide by tough national standards of conduct that define our professional performance. Ask your REALTOR about it!

If you, or anyone you know is considering a career in Real Estate, please contact me to talk about it. I am proud of my profession and would sincerely spend the time to discuss it with them.

And so, back to the work of being "your personal agent."

Bob

Valentines Day

2009-02-13T07:54:00.004-06:00

When I was in the first grade, I was run over by a truck while crossing the street on the way to school. My box of little valentines for the other kids scattered all over the street. I was banged up pretty badly , but recovered some 6 months later. I've had a bad attitude towards Valentines day ever since - at least that's my story, in addition to the natural resistance of most males that suffer through this flowers and candy routine - smile.

Actually, life jolted me with a tough and early message. You see, I walked through town that day, in violation of my strict orders to go with the other kids, the back (and safer) way. But I was late - amazing how a first grader can be so head strong! I learned that day to do what you're supposed to do, or you may get hit by a truck!

In the spirit of the day, I hope there's been no trucks in your, or your kids' lives on the way to life's school, and wish you a day full of love and happiness. I still enjoy the little poems, so ------

Roses are red
And violets are blue
Hope the recovery act
Brings joy to you.

I'm off to the store today to buy my sweetie a Valentines Day present, of course, and watching the news to see what Congress has done with the home buyers' tax rebate.

Happy Valentine's Day.

Great Monday!

2009-02-09T15:53:00.003-06:00

HOORAY! My new web page is actually up today! (Once again science and technology win over superstition and fear! I love it when complicated stuff like the internet work without me really understanding it.) Please comment to me about my page. I need to start fine tuning it. Thanks!

http://www.eastofthearch.com/

Wow, I'm just amazed at the debates over the Trillion dollar plus recovery bill. Republican or Democrate - this is breathtaking. I will say, as a retired fed manager, turning that much of our tax money loose in one fell swoop is scary. Oh well ......

There is a pretty effective little prevision in there about a $15,000 tax credit for buying a home. We've been lobbying for it, and I hope it stays in the bill because we really need to kick start our home values upwards again. I'll keep tuned for you - you know I will!

2009-02-05T10:34:00.003-06:00

Watch this video from California. This story is happening all over the country, but positive stories seldom reach the news.

New Web Page

2009-02-04T12:18:00.006-06:00

Whew! I've been busy! Besides showing and listing homes, I've been preparing a new web page -EastOfTheArch.com. It should be online in the next few days. Lot's of work, but fun, too. I've been neglecting this blog a little, but will get on it. I actually have several blog sites, but this one is my favorite.

Please check out my new web page. I'm trying to make it the most valuable site for you, the Real Estate consumer. I would really appreciate any feedback - call me, email me or best yet, post a comment here!

Speaking of new, I've got an 800 number system for providing information on listings. As part of that, I've provided a recorded market update for our local area. You can hear it by dialing 800-675-1811 and entering 4003 when asked. Try it!

Bob

VETERAN'S DAY

2008-11-11T10:03:00.002-06:00

A big salute to all our veterans! If you would like to take a pause for a moment, let's mix airplanes and our nation's defense. Here is a first hand reflection on the SR-71 that had a big role in the cold war. I've seen this airplane several times - amazing.

http://www.greatdanepromilitary.com/SR-71/index.htm

National Real Estate Sites

2008-10-27T12:38:00.002-05:00

I’ve noticed (with a little amusement and some slight smugness – smile) that the national Real Estate web sites are working hard at getting better and better. That’s a good thing. Better in terms of providing you, the consumer, with more information on listings, more pictures and a better user experience. Sorry, I won’t mention the improved ones. I know everyone has their own favorites and that’s great. Much of the improvement, I think, has been because of pressure from individual Realtor web sites, like mine and many others. I’ve always felt strongly about providing reliable and full information to consumers with the thought that you would remember me when the time comes to choose a Realtor.

Better, or not, I think mine is best – ha! - and I hope you agree. It’s a lot of work for an amateur to keep ahead of the big professional sites.

By the way, did you see my recent Fall Newsletter?

Recovery ????

2008-10-10T09:20:00.003-05:00

The current economic crisis certainly will effect us all in some way. Many people are angry, and most are overwhelmed by the flow of information in the national news. The attached article is a dispassionate summary of where we are and where we may be heading. I seldom point to other sites, especially if they contain competing advertising, but this may be worth a read for you. By the way, and again, ALL REAL ESTATE MARKETS ARE LOCAL, and I would be happy to discuss with you our current market conditions as they may effect you and your plans to buy or sell a home. Call me, it's what I do.

http://www.netgainrealestate.com/the-great-credit-demise-what-is-going-on/

Halloween

2008-09-29T23:22:00.004-05:00

I've been testing some new software for house tours. It's pretty flexible, as you can see below. Let's face it, the market is making it harder and harder to sell homes. Real Estate companies aren't sitting still and are rolling out a lot of high tech tools for agents to beat the competition for our clients. The internet listing programs we now have are awesome and make a real difference to clients. Ask me about it if you are considering selling your home. ------Or just look at my electronic doodle below, smile.

Scott AFB Air Show

2008-09-22T21:50:00.007-05:00

Tina and I caught the air show at Scott last Saturday. The base looked nice - it sure has changed over the years, and has a bigger than ever role in the nation's defense.

My buddies always send me fabulous pictures from air shows. I don't know how they get them. Even with a large telephoto lens, how in the world do they track these fast fliers? I simply snapped this with my digital camera.

And this is my beautiful Tina. It's always easy to get a pretty picture of her.

Saturday was a nice break from Real Estate, but I was back at it on Sunday with a busy open house.

Remember, it's only a buyer's market for you if you buy something (smile!)

And remember too, that with a trillion dollars the federal government can fix anything (not smiling when I think of our future taxes!) Oh, well....

Oh, woe is me!

2008-09-17T10:45:00.002-05:00

The finance industry is sure hitting some bumps in the road! As a Realtor, of course I follow all the industry news daily, and have done my share of mental finger pointing at who screwed things up over the last year. Playing the blame game is easy – there’s a long list of likely candidates. What’s more interesting is who ends up paying for the mistakes after all the maneuvers of power players in the system. Looks like we taxpayers are at the end of the chain. It’s all OK, the new administration will take care of everything (note my tongue firmly in cheek here!)

One reality has finally begun to take hold among the “experts”. The total value of residential real estate is the underpinning of a large part of the nation’s (maybe world’s) financial system. As that value erodes, all the paper gets thinner. The assumption of continued and uninterrupted appreciation was the basis of prior decisions and actions, by both individuals and institutions. Good people and dumb asses included.

In my view, things won’t be “fixed” until home prices begin to rise again. Or maybe that’s just an indicator that the markets have adjusted or been adjusted (your choice.) So, have we hit bottom? Wish I knew the answer to that one – both as a Realtor and a homeowner. I agree with McCain that our basic economy is healthy, and I am optimistic about home values. If history repeats itself, and it usually does, growing home equity will continue to be the cornerstone of the average American’s wealth.

What many have hopefully “learned” is that it is wealth to be guarded carefully by making good decisions, protecting the asset and taking the long view. I really like the thought that “a home is a place to live, not just to make a buck.” Both are great, of course, and I am so glad our local market has not taken the big plunges seen in some other parts of the country.

A crystal ball would be nice to view when home prices will start back up, and I wish I were the one that knew how to kick-start the national housing industry! How about a one-year moratorium on property taxes for buyers. Now that’s going to happen – ha!
Any other thoughts?

Vegas

2008-09-03T09:29:00.002-05:00

Theis is our new puppy, Vegas. He's smart, fun and a pain! Tina finally talked me into it after 3 years (" trust me - two dogs won't be any more trouble than one, really!") Sadie, out big baby has welcomed Vegas with no problem, but we worry she plays too rough when he gets her started. Can anybody tell me why Vegas has to climb up on the dishwasher door every time we open it?????

Zillow Estimates Edwardsville Market Prices

2008-08-27T10:46:00.001-05:00

“According to the latest Zillow Real Estate Market Report, home values in Edwardsville decreased 4.70% in the second quarter of 2008, compared to the second quarter of 2007. Nationally, home values decreased 9.9% during this same period.”

All of us are interested in the Real Estate market and the value of our homes. As I have said in my Newsletters, all markets are local, and we must carefully screen the news media reports for generalizations – they love to print bad news! There are many sources we Realtors use in evaluating the local market and in pricing a home. (Zillow is not one of them for me.) The above Zillow statement, therefore, may not be truly accurate (please don’t take it to the bank), but Zillow has spent a great deal of effort in providing specific data to back up their estimates. The comparative data from across the country that they provide is pretty interesting. Visit the link below for some interesting data on their view of the Real Estate market. Remember, though, detailed data does not lead to truth – they may be exactly wrong! (Or, garbage in, garbage out in statistical talk.) Still pretty neat stuff. Comments?

http://www.zillow.com/reports/RealEstateMarketReports.htm

A NEW BLOG SPACE - FOR YOU AND ME

2008-08-26T07:31:00.005-05:00

I sometimes feel the need for a safe place to express a thought, share a moment, tell a joke, answer a question, whine a little - how about you? This may be just the place.

Well, this is my very first post here (maybe the only one - ha!) You see, I've done this before, but only enjoyed it when others joined in by posting comments. So ---- make up a name and come on in! Just click on the word "comments" below and have your say ........

I won't list and try to sell property here - that's what my web page does. No, but questions and discussion about Real Estate might be fun. I've also stayed hooked up with the FAA and the aviation community from a past life, so some "insider" scoops or opinions could happen if you're interested. So, "let's do it!" --------------