Wayne Long's Blog: All Categories

Foreclosures have been all over the news as everyone knows.   It seems that the difference in this recession is that it is taking down the wealthy as well as the poor.  

A case in point was reported by the Ledger-Enquirer on Wednesday as they reported that Bill Heard Jr's home is scheduled for sale on the Courthouse steps on January 6th.   Columbus GA based Bill Heard Enterprises was  the largest Chevrolet dealer in the US at one time with 14 dealerships across the country.   

The luxury estate on Lake Oliver is listed in the Columbus MLS for $18 million dollars.   Located in prestigous Green Island Hills the 28,000 sq. ft estate is quite an impressive home.  

Columbus seems to have more positive economic news than much of the country but we are…

Online Realtors go through the same steps as a Rule.

1st ) We realize we need to be online

2nd) We hire a website company to build our site - we are excited about the new launch of our basic template site (we want to be online but we don't want to spend too much money). 

3rd) We start reading and working on our site and add new features to enhance our site. 

4th) We realize that our site will not do all we want it to - much less rank on Google. 

5th) We get a much better website but maybe stay with a template like an REW standard template.  

6th) Now that we have a search engine friendly website and learn some skills -  our website begins to rank and we see what could be possible on the web.  Now we are excited and long to have a powerful Custom…

The short answer to these questions is yes you should be investing in Real Estate exactly because the market is in a slump. 

Buy low and sell high is the mantra of a great investor.  Now is the time to buy low in the Real Estate market.  It also is the time to buy low and then hold until prices recover.   We think that if you invest in Real Estate now you will have tremendous payoffs in the not too distant future.   So in a nutshell here is my strategy for Real Estate investment now. 

1) Buy distressed properties now

2) Make any repairs that are needed to maintain the property like  a new roof, paint , rotten wood, etc.

3) Rent the property until prices have recovered.

4) Make any upgrades that will enhance the sale of the property.

5) Sell the…

Collaboration between opposing Realtors may seem like a bad thing but it really is not.   My job as a professional REALTOR is to protect your interests and help you make the best decision possible when buying or selling your home.   What made me think about this is that our broker sends out a survey to all the other REALTORS we work with and asks about the job we preformed from their perspective.  Here are the questions our broker asks with this response key  VS- Very Satisfied, S- Satisfied, N - Neutral, D - Dissatisfied, VD - Very Dissatisfied.

1) Timeliness of response

2) Returned Phone Calls

3) Timeliness of Offers

4)Appointments kept and started on time

5) Forms completed fully and correctly

6) Agent availability for follow up questions

7)…

At our annual Board of Realtors awards meeting I learned that Billy Brescia is the oldest active Realtor in the U.S.  according to NAR records.     He is truly an amazing man as he is very active in Real Estate and our Board of Realtors right now.  Let me give you some facts. 

1) Billy is 91 years old

2) He was licensed in 1947 (61 years ago)

3) GAR Director for Life

4) Past Golden Rule award winner

5) Extemely Active in GARPAC

6) Active Board member on the local and State level

7) Past Realtor of the Year

On top of all that - he is one of the nicest guys you would ever want to meet.  Occasionally you meet people that you would like to model your life after - he is one of those people. 

If you want an experienced REALTOR - this is your man!  Read Full Post

Where do we start?

1) Do I just start riding around looking for signs?

2) Is my credit good enough to get a loan?

3) What if something is wrong with the home I pick? 

4) Do I have to pay a Realtor to find me a home? 

5) All of these are good questions and we will try to answer some here and hopefully alleviate any fears you may have! 

Contact a Realtor! 

You knew I was going to say that because I am a Realtor.   :)  There are good reasons to make this your first stop.   First, the seller pays the commission on both sides as a rule.   The seller has a professional Realtor working for them so it makes sense that you have a professional working to negotiate for your best interests and the best part is the seller is paying for it!  Because a…

Whether you are a buyer or seller you may wonder what the process is and how you are protected once a home is "under contract" or as they some say "in escrow".   Lets look at the process in Georgia. 

1) All parties have agreed on a contract and the buyer has put earnest money into escrow (typically held in a Real Estate Brokerage account to protect the money for all parties until closing) . 

2) Buyer will begin thorough evaluation of credit.  You were probably pre-approved but now you will be required to document your credit worthiness which will probably include:

• Verification of employment
• Verification of funds to close (downpayment and your portion of closing costs).
• Verification of debts
• Verification of assets
• May need tax…

When I was in college mortgage rates went to their all time high of 18%.   That is what kept me out of Real Estate initially.  My father was a Real Estate Broker and I saw what a really tough market looked like and I didn't want to be involved.    This perspective gives me a truly different take on the market we are in now. 

What I see is opportunity for buyers!  

The old saying of buy low and sell high!  What makes a great time to buy property.  Let me think....
1) When you can buy at a discount.
2) When sellers will pay your closing costs so that you don't have to come out of pocket.
3) When you can finance at a great interest rate (5.75% 30 yr. fixed)
4) When you have a lot of inventory to choose from

Wow!  I think that time could be… Read Full Post