Agency Disclosure / Representation

Every day I learn something new with regard to Alabama Real Estate and it's implementation. Today, I learned about the importance of timing with regard to disclosure and a Limited Dual Consensual Agency agreement.

Today I took a big step toward improving the service I offer to my clients. I attended the first session of a 60hr pre-licensure class for Brokers. The law in Alabama changed and as of October 1, 2007, any Salesperson who wants to become a Broker must attend and pass an in-class test to receive a certificate of completion. Then, the person must pass the state Broker exam and receive the privilege to call oneself a Broker! Providing all goes well, I should be a broker by Feb/Mar of 2008, depending on a passing grade - of course - and time to process the paperwork.

As a customer working with Real Estate Salespersons, there are many things you should be thinking about. One very VITAL piece of information you should have is: DO NOT DISCLOSE much of your situation without understanding your relationship with the licensee you are speaking to! If you are talking with a Listing Agent about his/her property, do not tell them what you are preapproved for or what price you would like to offer, without reading a Services Disclosure! You might end up being represented in a limited manner, and this person would have gained important information they can potentially discuss with the seller!

Email me, type the phrase "Agency Disclosure" in the subject line and include your name, telephone number and fax number in the email and I will get you a copy of this form.

Market Statistics

From the Montgomery Area MLS

As of October 31, 2007
We have closed 4,734 homes since Jan 1st!
We have sold just 289 fewer homes than Jan 1, 2006-Oct 31, 2006.

In October we had 1,300 more new listings added to the market than last October.

There are a lot of properties to buy!
As of today, ACTIVE properties available on the MLS are:

Single Family HOMES - 3,273 and
LAND - 1,126

Call me for assistance deciding which property is right for you!

Misc

House Hunting Tips from ME!

Well, here's the dealio. In the greater Montgomery area, we are experiencing a HIGH VOLUME of homes on the market. If your area also has a large number of inventory, or homes for sale, this advice can help you as well! Don't waste your time looking at homes you can't afford or won't buy because of location, condition or size.

GET PRE-APPROVED if you aren't already.

Choose a REALTOR who you like, and who either has experience, or has access to another REALTOR with experience. When you are just looking for a home, all you need is someone who can open the doors for you - but you also need a REALTOR who knows which doors to open!
When it comes time to writing an offer, you can ask to have your REALTOR's mentor present to make sure all facets are taken care of.

OK. On to home searching....

Decide your criteria. This is a time when you can be ULTRA-picky. How many floors, how large a lot, what kind of street, size of home, size of garage, fence or no fence, pool or no pool, gas or electric heating, etc. Think about ALL the details in a home that matter to you. Even construction - brick, wood, or stucco? After you list out the criteria for your next home, decide which are MUSTS and which are WANTS. Don't worry about price right now.

Go online to REALTOR.COM or your local MLS and do as detailed a search as you can to find the homes you want to see. OR have your REALTOR do a filtered search on the MLS to select only the homes that truly meet your specific criteria. This is when you will see what these homes are priced at. Depending on how many results you get, narrow your search to include homes priced as high as $25K over your pre-approved price. For your first viewing day, start with the homes below your pre-approved price range. Get the BEST deal by looking at the less expensive homes first. You will find it easier to increase your equity.

Based on the most recent sales of similar homes, determine what the "appropriate" sales price should be. Then look at all the homes with this price range in mind. You may discover that some sellers are asking too much for their homes, and when you find the right home, you just might be able to negotiate a price that you can afford!

Appropriate Sales Price is really what a buyer is willing to pay. You will decide what price YOU are willing to pay for these homes as you go through them. However, the Seller still must agree! So the price will be whatever the Buyer and Seller agree to! This is best determined by looking at SOLD similar homes in similar neighborhoods.

I do not recommend buying above your budget. It's always best if you can find a home that's well within your pre-approval amount. This way, when it comes time to move in and redecorate, you'll still have the extra money for dining out and movies, other entertainment. You don't want your new home to imprison you!

I hope my advice proves helpful. Please email or call me with your questions!

Happy Holidays!

As the year comes to a close, I know you’ll have a lot on your mind. I am here to serve your real estate needs, whatever they might be.

SERVING YOUR REAL ESTATE NEEDS
Are you looking for a home or planning to sell a property in the near future? Please call me at your convenience and let me work for you!
Do you know someone who would benefit from my services? Please give me his or her contact information and give my number to him or her!

REFRESH
If you have contacted me about a home in the past, and you are still trying to find that perfect property, please let me help you again! Bring me up to speed and I will hit the ground running for you!

SPREADING THE WORD ABOUT YOUR BUSINESS SERVICES
If you offer services for homeowners, please let me know about it. I would be happy to include your information in my BLOG http://www.forsalebykat.blogspot.com and also provide a reciprocating web link to your website from mine http://www.KatParker.com.

INNOVATION
I am always considering new ways to “get the word out” about me and the unique real estate services I offer. If you see something you think I should know about, don’t hesitate to contact me about it! I love hearing your ideas!

CONTACTS THROUGHOUT THE US
I am licensed in California and Alabama, and I can help your friends and family choose a professional REALTOR ANYWHERE in the US and Canada. Aside from the Alfa Realty network, this year I have joined WCR which is a nation-wide network consisting mainly of women REALTORS. WCR is comprised of full-time professional Real Estate Salespeople who will focus on your needs. My personal business focus is on residential real estate in East Montgomery, Pike Road, Wetumpka, Eclectic, Lake Martin, Holtville, Titus, Lake Jordan, Millbrook and Prattville. I receive rewards for referrals and I would be more than happy to share these benefits with you, my cherished customers. If you are relocating to another part of the US or Canada, please let me know. I can help you locate the area’s MLS website and connect you with a professional REALTOR.

REMEMBER
I want feedback. I am committed to providing you with the best service I can. I am here to help you from 10am to 7pm, Monday through Saturday and 1pm to 5pm on Sundays and other times, by appointment. If you would like me to set aside time for you to look at properties, it is best if I can have 48hrs notice to clear my schedule. You (customers) come first, but I can only be in one place at a time!

THANK YOU
Thank you for the opportunity to serve your needs this past year! Whether I have provided information on properties or helped you through a closing, it has been my pleasure to serve you and your family.

PLEASE
Let me know how I can help you in the coming months and New Year.
Update me with your new and preferred contact information (email, telephone, address)!

I am so excited about this season and the New Year!

My Schedule

I don't have young children to tend to and therefore my schedule is somewhat more flexible than that of other Realtors (R) in the area. Contact me to assist you if you want someone who will be AVAILABLE to help you with your Real Estate Needs. http://www.KatParker.com

What's New Before Thanksgiving

Showings at last minute - Kat's philosophy
Well, most buyers and sellers are preparing for Thanksgiving along with those who aren't planning a move right now. So, there won't be quite as many showings this weekend and next. However, there are SERIOUS buyers looking for homes YEAR ROUND. So, if someone does ask to see your home this weekend, I would JUMP THROUGH HOOPS to accomodate. You never know when the "right buyer" will walk through your front door, so try to allow all showings.

Unless your home is overly fragrant from a meal made of curry or is filthy due to messy guests or family, let people in! And if it is not quite "show-ready", ask for 15 minutes to make it presentable then clean up the biggest mess and leave the rest. Most folks LIVE in their houses and will understand - especially if their agent did not have foresight to call ahead.

Settling on what's available / Getting what you WANT
Did you GET what you WANTED when it came to a wedding location or apartment or were you required to take what was available, without regard to needs and dreams? The real estate market is GREAT for Buyers right now. There is more inventory in the Montgomery MLS than there has been in a very long time. This means you have more homes to choose from! The majority of the homes are priced between $170,000 and $220,000 so if you are prequalified for any number in this price range, you've got your work cut out for you! To help you narrow down the list and save time looking at only homes you'll love, get pickier on your first few showings. Think about "deal breakers" such as: two-story, no carport, no yard, undesirable location for schools or job commute... Pick homes that meet all your criteria "needs" and "wishes/dreams" to see first. If you don't like any of them, then you can get a little lenient on some facets of your next home. OR if you have a little time on your hands, then get a REALTOR(R) who is willing to WORK for you! If you know EXACTLY which neighborhood you want to be in, then choose a REALTOR(R) who will talk to neighborhood residents and find out who might be convinced to sell. You'd be surprised! A REALTOR (R) who isn't afraid and has time to knock on doors and meet people in your desired neighborhood may be able to save you money and get you what you need!

SELLING A HOME IN A COMPETITIVE MARKET
This is a competitive time for Sellers. You might have a gorgeous home with all the up-to-date appliances and color schemes, but is it getting seen? How do you ensure your home is seen by 85% of all qualified buyers? PRICE IT RIGHT! You might think, well I can lower my price in a month or two if I don't get a reasonable offer by then. BUT in the first 4 weeks, which is the most crucial time to have your home correctly priced, you might have missed the buyer who was ready to make a move on your home! Think about it.... Let's say your opinion is that your home is worth $300,000, so you price it for $310,000 to give negotiating room. Buyers are looking for homes in the price range they can afford. Your home will be compared with homes priced from $285,000 to $325,000 because some buyers will be preapproved above $310K and others might not be. But with luck, they'll look at your home anyway. Now your home is being compared against homes that are more expensive, and probably have extra amenities that your home doesn't - otherwise, you'd price your home even higher!
Example: Buyer 1 is approved for $325K and they look at your home to see if it has what they are looking for but they find it is not quite as nice as the home around the corner. Now they decide if they want to make a concession to save money, or not. In this price range, most buyers are inclined to get every bell and whistle they can afford. YOU'LL MISS OUT!
Buyer 2 is approved for $305K and they tell their REALTOR(R) not to show them any home priced above their budget, and they'd prefer to look at homes priced under $300. YOU MISSED OUT!

If you are selling a home in the Montgomery Tri-County or Lake Martin area, you need to call me. I have worked in competive markets and in every case my residential home sellers have received offers within 30 days of listing. So - call me if you are READY TO SELL your home!

Sunrooms

Adding square footage to your home is the SMARTEST remodeling advice anyone can give or receive. It will automatically add value. Next in line are kitchen and bath remodels, followed by living and dining rooms. If you have a porch or patio, you should think about closing it in this winter and giving your family more living space to enjoy over the future months and years! Then down the road when you are ready to sell, it will be a bonus!

Central Alabama Sunrooms, Inc. has recently taken on several projects in the Montgomery area. Four Seasons Sunrooms has a few resellers/dealers in Alabama, one of which, closed its doors earlier this year. Therefore, CASi has the opportunity to take over a few of these projects and get them done right!

Visit www.CentralAlabamaSunrooms.com for more information on what this company can do for you!

Choosing a quality kitchen range hood

Choosing a quality kitchen range hood - besides removing odors, best units get rid of moisture -- quietly
by Paul Bianchina, Inman News

In most kitchens, there is a simple appliance situated above your range or cooktop that often seems to be mistaken for nothing more than a big light fixture -- and in fact, the "builder's grade" range hood in many new homes really is little more than that. But your range hood serves a couple of very important purposes in the kitchen, and selecting the right one is something that warrants some comparison shopping.

Range hoods come in several sizes, finishes and designs, and that's where most people start when they're shopping for a new one. First of all, it needs to be the correct size to match the width of the opening in the cabinets above the range, and to match the width of the range or cooktop itself. Hoods come in a couple of standard sizes, including 30, 36 and 42 inches in width, with the depth being designed to fit with standard 12-inch-deep upper cabinets. There are some variations available in many of the higher-end models, so knowing the size you're looking for is the first step.

Typically, the next consideration is one of aesthetics. There are several finishes available, the most common being white, almond, black, stainless steel or some combinations of those colors. Then there's the design of the hood housing, which can range from the traditional rectangular box with the sloping front that is commonly see in kitchens of all types, to some very sleek, slender models that almost disappear into the cabinets.

AN EXHAUSTING CONSIDERATION
Size and aesthetics aside, it's time to take a look at what really makes the range hood function in the capacity that it's designed for -- exhausting air. Range hoods utilize a fan to draw air up and into them, through a filter, then through a duct to -- hopefully -- the outside. That air movement serves to remove cooking odors from the kitchen, and that's when most people will turn it on.

But the range hood has an even more important and often overlooked role as well, which is to remove moisture right at the source where it's being generated. Like a bathroom fan, the range hood lives to draw warm, moisture-laden air out of the home's interior and exhaust it to the outdoors before it can do any harm. For that reason, there are three additional things to pay very close attention to when buying and installing a range hood.

First of all, since the hood needs to remove moisture from the room, you want to avoid the temptation of purchasing a recirculating hood. Recirculating hoods do not require an exhaust duct, so they are considerably cheaper and easier to install. But since all they do is recirculate air through a filter to remove some of the grease and odor, they fail completely in their primary task of removing moisture.

Second, the hood has to be vented all the way to the outside. This is now a building code requirement in today's homes, but in years past range-hood ducts were often run into the attic and no further. As many homeowners have found to their shock and dismay, pumping all that warm, wet air up into the attic can cause a whole host of problems, including dryrot, mold, degraded insulation, and even severe structural damage.

Finally, the range hood needs to have adequate power to effectively remove the air. As with all types of ventilation fans, range hoods are rated in cubic feet per minute (CFM) of air movement. The higher the CFM rating, the more effective the fan is at drawing in room air and pushing through the duct. Larger rooms and larger ranges need more CFM to more an adequate amount of air for ventilation, but even small rooms need a greater amount of CFM if the exhaust air needs to be pushed though a long run of duct, or one with a large number of elbows and other fittings.

At their least expensive, hoods utilize a tiny plastic rotary fan on a vertical shaft, sort of like the propeller on an old beanie cap. Even though a massive 42-inch hood looks powerful enough to handle any ventilation chore, if it's equipped with an anemic motor and fan blade, the resulting air movement will be inadequate.

Better range hoods utilize a multifinned horizontal fan called a centrifugal fan, commonly known as a squirrel cage fan for its resemblance to a common animal exercise wheel. Centrifugal fans are much more efficient at moving air, and offer a higher CFM then a rotary fan with the same size motor.

The final consideration with your new range hood is its noise level, because even the best of hoods won't get used if it sounds like a Boeing 747 is headed for a landing on your kitchen counter. Range hoods are typically rated in sones, and the lower the sone rating the quieter the fan. As a means of comparison, one sone is about the noise that your refrigerator makes, and normal conversational levels are about four sones.

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Happy Shopping! For Lowes discounts and a FREE Ideas Magazine subscription, email kat@katparker.com with LOWES in the subject line!

Land and Homes For Sale

301 Bowen Bend near Emerald Mountain in Wetumpka
$188,000 4 Br/2 Ba large lot with storage building
Beautiful inside and out!
MLS # 245145

Land on Seth Johnson Drive in Redland Community of Wetumpka
NEW SCHOOL COMING FALL 2009
$55,500 0.65 +/- acres wooded lot in River Ridge
MLS # 246642

Land on Hwy 229 / Red Hill Road near Castaway Island
You can see the water through the trees!
9.3 +/- acres VERY CLOSE to Lake Martin!
MLS # 240924

How to Hire a Builder or Remodeler

from the Alabama Home Builder’s Licensure Board

Having your own home is the American dream. It is your own little corner of the universe. Don’t trust its construction or remodeling to just anybody. As much time and attention should be spent interviewing and researching a prospective builder or remodeler as would be spent searching for a home or automobile or employee.

As a consumer you have the right to ask certain questions and request certain pieces of information. With the remodeling industry exceeding $118 billion spent during 1997, you can tell that there is a lot of remodeling that goes on all over the United States. Every year thousands of Alabama citizens remodel and repair their homes.

While most residential contractors operate honest businesses, the number one complaint filed with the Attorney General’s Consumer Affairs Division is regarding home repair fraud. There are important steps that consumers can take to protect themselves before ever hiring a remodeler. Don’t be afraid to ask certain questions or to request references.

Any remodeler running an ethical business will not be offended by your inquiries about licensing, insurance and references. Below you will see a bulleted list of information that should be obtained when you are in the process of hiring a builder or a remodeler.

Whether you are making minor repairs, adding an addition to your home or building a new home, arm yourself with the information necessary to choose the right contractor.

How to Protect Yourself from Fraudulent and Unlicensed Contractors
· Verify the contractor’s name, address and phone number. Be wary of workers who give you pager numbers rather than landline phone numbers, or post office boxes rather than street addresses.
· Request references on similar work performed by the contractor. Ask to see a job in progress, and ask for the name and number of a customer who had work done over a year ago.
· Obtain two or three bids. When comparing estimates, be sure each one is based upon the same set of plans, specifications, and scope of work.
· Check with professional associations and licensing boards (see listing below) to verify the worker’s records. Ask to see the contractor’s pocket sized license card.

Visit http://www.hblb.state.al.us/consumer-info.html for more information. Happy remodeling!

US Real Estate Market

Getting Back on Track
by Lawrence Yun, Vice President, NAR Research

The summer has been tough – historically high temperatures in many parts of the country, Midwest floods, and almost everywhere major airline flight delays. Housing didn’t have such a great summer either, with home sales and price appreciation still waiting to recover. The subprime mortgage mess didn’t help either. So everyone wants to know: now that the summer is over, when can we expect the housing sector to get back to normal? There’s actually a sequence of events we should look for that need to happen before housing is back on track, and as each of these occurs, the closer the housing recovery will be. Let’s take a look at them.

Mortgage Rates Will Stablize Favorably
Despite the headline news coverage of turmoil in the mortgage market, mortgage rates have actually been falling for borrowers who take out prime conforming loans. Because these borrowers account for the majority of home buyers, affordability conditions for most buyers have improved. FHA loans – the traditional financing vehicle for low-and-moderate income households – have also begun to build market interest and momentum. FHA loans offer very attractive rates nearly comparable to those of conforming loan rates and save homeowners a bundle – about $180,000 in lower interest payments over a 30-year loan cycle compared to high-interest rate subprime loans. A near-certain legislative change that will allow higher FHA loan limits in high cost areas will further free up the mortgage market to offer safer alternative products (i.e., FHA loans) and away from subprime loans. It is important to note, though, that subprime loans may make sense for some home buyers such as young couples with large income potential but little downpayment. But the subprime market share at most should be no more than 5% rather than the 20% market share of recent years.

While mortgage rates look good for conforming and FHA loan clients, the same is not true for jumbo loan borrowers. Without the backing of a guarantee by Fannie Mae and Freddie Mac, bond investors are shying away from jumbo loans. As a result, interest rates on these large loans have increased and will significantly hold back home sales in the high cost housing areas like California. The whiplash will be short-term, however. After sorting through the numbers, bond investors will likely conclude that jumbos are quite safe – even without the government guarantees. A million dollar borrower generally has solid credit and pays bills on time. Any temporary legislative change in raising the loan limit well above the current $417,000 or in permitting the GSEs to purchase jumbos loans to include in their portfolios will mitigate the crisis. (The median prices will artificially trend lower during the period of jumbo loan crisis just due to fewer higher priced home sale transactions).

Pent-Up Demand Will be Unleashed
Consider this – four million net job additions in the past two years during the housing market slump. Yet, home sales have fallen. As home sales fell, people doubled and tripled up because apartment rents increased at their highest pace in five years. These people are waiting to buy a home. Then there are the approximately two million marriages that occur each year. Those newlyweds are waiting to buy a home. About four million babies are born each year – forcing some families to consider trading up from a smaller house or condo to a larger one.

Homebuilders Take Heed
The inventory of both new and existing homes is at high levels. Builders have already cut back production and are encouraged to cut back even further. The market needs less inventory additions in a time of transition. Wall Street should and will punish any builders who add to inventory in the current market. Why build only to lose money on the home? With builders cutting back, inventory will fall. Some home owners of vacant homes will also consider the juicier rent growth and take their “empty” home off the market. In addition, many owners are in a no hurry to sell their home that they actually occupy (except perhaps for those in the few areas of the country that are losing jobs), and they may also choose to delay listing their home for sale or de-list it. Unleashing of that pent-up demand for home buying will also eat into inventory.

Drawing Down the Inventory
The law of (lower) supply and (higher) demand will then firm up home prices. The media will be forced to report on the price gains. Many potential buyers, with solid financial wherewithal, will regain confidence. The wheels of housing turn faster and faster. The full unleashing of the pent-up demand could mean about two million additional homeowners. Such absorption into the marketplace will bring down the current existing-home inventory of four million units and the new home inventory of one million units to a total of three million homes (new and existing) available for sale. That level of inventory equates to a 5-6 months’ supply – generally considered a balanced market condition.

Balanced Gains Ahead
As the housing market recovers, potential home buyers (both first-timers and repeat purchasers) will gain more confidence in the housing sector. This, in turn, will drive more demand for homeownership, helping to keep inventory at or slightly below market balance and spur additional increases in home price appreciation. In sum, a closing of the subprime market does not directly mean equally lower home sales. FHA/VA and conforming government-backed loans will pick up a large chunk of the former subprime market. The jumbo loan concerns will be mitigated over time with better market knowledge, and will be assisted by changes in legislation permitting higher loan limits. Pent-up demand is strong. Inventory will move in the right direction. Builders are assisting by holding back production. A market recovery in 2008. Back-to-the-historical norm in 2009.

Wetumpka area 12 MLS Statistics

39 Homes closed, or SOLD during the month of September!

24 Homes became Sale Pending from Sept 1st to Oct 1st!

Highest price of all homes sold in the greater Wetumpka area was a: 4,000+/- sq ft home on Ann St in Eclectic, which sold for $335,000 after 33 Days on Market.

Your home can sell, too!

Ask me how I differentiate YOUR home from the others on the market so your home sells FASTER and for MORE $$$!

With all the properties on the market, only the top "move-in ready" and "smart buy" homes are moving fast. Make your home IRRESISTABLE.

Here are the top 3 things you can do to make a difference in your home sale.

1) Leave the home for all showings. If you absolutely must be present, stay in the back or front yard during the showing.

2) Keep your home and furniture clean.

3) Remove all unnecessary items from the floors, shelves and closets. Pack as many things as you can, and place these boxes in an attic, garage or off-site storage location.

Contact me for more tips on selling your home!

Visit www.alamls.com/kat or http://www.katparker.com/index.shtml to see my latest listing!

New Listings

Lake Jordan Water frontage, ½ acre lots from $75,000 to $85,000!

Lake Jordan Water view lot 0.75 acres for $60,000!

Titus side…

Kat Parker, REALTOR www.KatParker.com

Welcome

Wilkommen, Bienvenidos, Bonjour/Bonsoir, and Hello!

I enjoy practicing different languages although English is the only one I know well enough to communicate professionally. After years of avoiding the cliche of following the mob and creating a blog, I have decided it is time to join in the fun!

I currently spend my days (and nights) assisting others with real estate sales and purchases. I work in the greater Montgomery, Alabama area. Please contact me with inquiries about the Real Estate market and specific properties!

I will attempt to add some tidbit to this blog at least twice/week, for the first few months. Of course, this may not always be feasible because, I like to take lots of vacations! In the Real Estate profession, one is never truly on vacation, but I try to limit my work time while I am on the beach!

PLEASE take time to answer my poll question. I really am very interested in how you (potential customers/clients) choose your real estate agents. I do realize that some people simply are referred to excellent real estate agents, and some people don't care about what one agent has to offer versus another. I am interested in answers from people who do think about choosing a real estate agent prior to making a final selection.

Thank you for your time and attention! Tell me your reaction!

Kat Parker, Realtor http://www.KatParker.com I work, so you can RELAX!