Lessons in the real estate business are anything but cheap. Some can even be career ending. The purpose of this series is to help the rookie agent benefit from some of my mistakes.   Without clients real estate agents are nothing more than cheerful people with expensive MLS keys. Even prior to passing their real estate exam most agents understand this theory. So when a "client" comes a long, we often latch on tighter than a hermit crab in a spiffy conch shell.   While persistence is important in this industry, so is knowing when to cut a client loose. Though there are no hard and fast rules, here are some warning signs to heed. 1) The prospect refuses to commit to you-- Buyers can, and often do call more than one agent to tour homes with. At some point he or she needs to pick one age... 02/05/2012

 With the Neighbor's rap music blaring in the background, the young apartment renters dream of their first home. After months of saving and building credit, they are finally in a position to purchase a home. So what's the holdup?  Many buyers will wait until spring to search for their home. Why is this so? Because that's what other people are doing. After all, the best time to buy is when other folks are looking right? Let's examine the other side of the coin for a different perspective. 1) Scheduling showings is easier in winter-- During the summer I typically work 10-12 hour days. The last showing of the day usually is scheduled for 730pm. And with new listings expect an agent showing both before and after your appointment. Do you like being rushed? If so Spring/Summer is the perfect... 01/30/2012

 Bayou Properties Realty is proud to announce that Susan Rogers has joined our office. She brings with her a wealth of experience working as a REO listing agent. From rural mobile homes to 350k executive estates, she has brought a wide range of properties to the market.  I met Ms. Susan way back in 2001 when my family moved to the area. Ms. Susan was a first rate professional and had a great personality to boot. She guided my family through the purchase process all the way to a smooth closing.  When she reached out to us last Fall I was excited to say the least! Welcome aboard Ms Susan! The Bayou Properties Team is honored to have you. Now if I can just get her to join ActiveRain... 01/29/2012

 The Alexandria Louisiana housing market continues to hold its own despite the national economy. Buyers in this market face stiff competition, especially in the sub 150k price range. Let's take a look at the Alexandria housing market for the past 90 days. Homes Active On The Market   Currently there are 194 homes for sale in the 75k-300k price range. Within this range there are townhomes, condos, and single family properties from which to choose. Want some land with your house? There are multiple properties with acreage for sale. What Are Alexandria Louisiana Homes Selling For? Thankfully Alexandria has been spared the price declines seen in other markets. In the last 90 days 50 homes have sold with an average sales price of 162,500. Marketing time has been brisk as well. For the 75k-3... 01/17/2012

 For the price range the house was a super star. Updated systems, new roof, fresh paint, all for a few thousand less than similar homes. The need listed we generated? This home met each one. And coming in under budget you were going to have a little breathing room each month. So what happened?  Papa got in the way. As a resident of another state, he somehow felt like he knew the local market. "Think about it dear, nothing is selling these days. This home will be here when you are ready".  By the time you thought about it a week the home had been under contract for two days. And how did papa respond to this news? "Don't worry, it will never appraise. Home prices are falling".  Not only did it appraise, but according to the MLS it closed with an FHA loan. This means the buyers only had t... 01/05/2012

 See those barrels in the background? This baby goat is smart enough not to stick his head into that muck. After all, with a large field of yummy pristine grass why would this goat risk getting her coat dirty?  As agents we need to learn from our goat friend. With the economy sputtering along there is no shortage of negative people out there. Hang out with bitter people long enough and soon you will be singing the blues as well. Regardless of your field, there is always a segment of the workforce that will complain. When I worked for the railroad, the company would provide free rib eye steaks ever so often. These choice cuts of meat would make even the most fanatical vegetarian hit the steak sauce.  While most workers appreciated the gesture, there were those who complained about the f... 01/03/2012

 With the economy sputtering along, a trend has emerged among new real estate agents. Certain individuals are getting a real estate licenses simple because there are no other jobs available. Let's examine why real estate sales is not a good "backup" career... 1) Real Estate is a business not a career-- In most cases agents are 1099, not W2. This means income is produced only when a transaction closes. There typically is NO salary in real estate. 2) It takes money to make money-- Providing a laundry lists of start-up costs would scary most newbies. In Louisiana expect to pay at least 2,000 bucks to get started, and that is very bare-bones. 3) Your first check may be six months away- From the time a buyer gets an accepted offer you are 30-45 days from closing. Expect to tour said buyers ... 12/29/2011

 It's never a good sign when there is ZERO traffic on the way to the office. Just how slow is it today? Let's just say the office line did not ring until 1030 this morning. And that was a drunk dude trying to order pizza!  About a mile from the office it dawned on me that most of the vendors I need to speak with are closed today. And something tells me ALL of next week will be hit or miss at best.  So the plan today is to catch up on some marketing stuff and clean the office. Perhaps that drunk was on to something, I think fresh pizza would make a nice dinner! Anyone else working today? 12/23/2011

Home for sale in the Alexandria Garden District-  Buyers seeking historic charm and period detail flock to the Alexandria Garden District. Many of these 100+ year old homes have been lovingly restored to their original charm. 1739 Thornton Court is a fine example of old world craftsmanship and modern amenities.  The spacious living room features updated fixtures, fresh paint, and an inviting fireplace. Imagine the conversations that have taken place around this cozy fireplace in the last 100 years?   Hardwood flooring has been painstakingly restored throughout the home. With proper care such flooring will only improve over time. Can you say the same for carpet? Not hardly!    Imagine a grand Thanksgiving celebration in this amazing dining room. As you can observe no expense was spared b... 12/16/2011

  The week started out with a roar. Actually more of an Exorcist-like purge of the stomach. In addition to breakfast, most of my work week went down the toilet as well. Though I admire folks who can work sick, sadly that's above my pay grade.  According to my wife I did show properties Tuesday night. Though I have no memory of which houses or clients I might have worked with. On Wednesday I snuck into the office to file some critical paperwork for a short sale. I probably should call that asset manager soon. The Lord only knows what I faxed...  Today I am feeling better, yet oddly enough I have ZERO appetite. I guess that watered-down bowl of soup from lunch YESTERDAY was pretty filling. Tomorrow I plan on working a full day. With any luck my appetite will return as well. Frankly I alm... 12/08/2011

 The thrill of writing an offer soon gives way to the frustration of waiting on a response. What's taking that seller so long? Doesn't the bank want to "get rid" of that house?  Short sales (transactions in which the market value of the home is less than the mortgage owed) are common in most real estate markets these days. Combine this with an already paperwork intensive buying process and it becomes clear why the process often gets protracted.  So, why does it take so long to complete a short sale? Let's examine some factors that can slow the decision process. 1) Sellers have to apply for a short sale-- Remember in a short sale banks are being asked to "write-off" tens of thousands of dollars in debt. Last year my bank didn't even give me a free calender. The larger the write down, th... 11/30/2011

 The church was crowded thirty minutes prior to the start of the funeral. All around me were familiar faces, including many of my former students. We had gathered together to celebrate the life and accomplishments of one Richard Gwartney.  Richard had spend the bulk of his life in or around the theatre. After graduate school at the University of Oklahoma and LSU, Richard dedicated 13 years of his life to LSUA. He build a theatre program from scratch to one that often took home regional and even a few national awards.  It was at LSUA in the Fall of 2001 when I first met Richard. As a junior faculty member, I was warned that Richard was a bundle of energy, and that keeping up with him was almost impossible. Frankly I'm not sure Richard went home every night of the week. Work was his whol... 11/29/2011

  This is my 401st blog post here on ActiveRain. After roughly two years of consistent blogging a few things have become more clearly defined... 1) My writing style has changed-- Coming from an academic career, when writing we don't normally warm up until page 20. Online that first paragraph better be sharp or the readers are gone. 2) You are only as good as your last post-- Nothing puts a pep in your step like a featured post with 115 comments. Until the next post you write that receives zero comments... 3) There is always something to write about-- Can't come up with a topic? Read a couple of blogs. If that fails simply think back on your last day in the field. These "interesting times" make fertile ground for writers. 4) Don't steal your pictures-- People who use pictures without per... 11/23/2011

 Yep, that's the butt end of an 18 wheeler trailer. When I arrived at the distribution center the trailer was empty, minus that tiny step ladder to the side. Are these Realtor of the Year trophies from my closet? Not even close. Within each 40 lb. box are an assortment of wrapped shoe boxes filled with Christmas gifts for needy children.  As the father of four, Christmas is near and dear to my heart. The look on my kid's face is worth spending the next four months paying off the Visa card. Yet in this economy many families simply have no money for gifts. Operation Christmas Child's mission is to put presents in the hands of needy children. As a father such a goal is music to my ear!  People from across the community come together and donate their time and money to make the effort succe... 11/17/2011

 As we enter the 2011 holiday season it seems like this year has flown by. With all the ups and downs of the national economy, let's take a moment and examine the health of the Alexandria Louisiana housing market. Homes Currently For Sale   There are 204 single family homes on the market in Alexandria Louisiana within the 75k-295k range. First time buyers should have an easy time finding a nice three bedroom home in the 150k-175k range. For folks with a larger budget, 250 plus will purchase a nice home with all the bells and whistles. Homes Sold in the Past 90 Days With the start of school, home buying activity did drop a little, but this is pretty typical. 67 single family homes sold in Alexandria over the past ninety days. So how long should it take to sell my home in Alexandria, La?... 11/16/2011

With leftover Halloween candy still in the bowl, our nation enters the Holiday Season. For the next two months turkeys, egg nog, and credit cards will all be in high demand.  As the churn and burn of the Holidays bear down, some sellers consider taking their home off the market. Let's address some common concerns sellers face this time of year... 1) Nobody buys houses this time of year-- Yes, there is less buyer volume. Gone is the rush of showings we often see during the summer. This time of year showing volume does decline. Could there be a silver lining? Buyers that do venture out are typically more serious than the summer time crowd.    2) It's hard to keep the house clean during the holidays-- Stockings on the mantle, a tree in the den, perhaps a gingerbread house in the kitchen, ... 11/08/2011

Home for sale near Cabrini Hospital, Alexandria, La--  Looking for a home within walking distance of Cabrini Hospital? Tired of a long commute after a 12 hour shift? 3424 Prescott is within easy walking distance of the facility. While your friends may go home for lunch, how many can go home for a bathroom break? Let's examine what 3424 Prescott has to offer!   This property has over 1300 heated square feet of living space on a large city lot. The yard features several mature trees providing ample shade for those hot summer days.     Looking for a home with period charm? This home for sale near Cabrini has hardwood flooring in most living areas. And take a second and admire this old phone shelf. They don't make them like this any more!             The large backyard is the textbook South... 11/04/2011

 I catch on to certain concepts pretty quick. For instance, Beowulf made sense the first time I read it many moons ago. And continents? I can name all seven!  But regardless of how many times good people told me, the concept of constant prospecting was above my pay grade. Let me get 3-4 deals in escrow and prospecting efforts would hit the brakes. After all, guiding deals to closing is almost a full time job by itself.  And then the final deal closes...All the calls from inspectors, banks, title folks, etc. grind to a halt. All of the sudden next month's coffer is empty.  In the industry this is know as riding the roller coaster. The high of four closings is met with the immediate valley of an empty escrow folder. Long dormant prospecting activities then must be used to earn new busine... 11/02/2011

Multifamily Real Estate For Sale In Alexandria, Louisiana--  Looking for a healthy return on your investment dollar? Then consider investing money in Multifamily real estate in Alexandria, Louisiana. Listed for only 109,900 dollars, 1809 Orchard Street is a prime example of quality Multifamily housing.  Located in the Heart of Alexandria, this property features four separate living units! The current owner let the leases lapse so the units could be more easily updated. In the past each unit has rented for between 400-500 dollars a month!  The interior features an open floor plan with low maintenance flooring. These are two bedroom units that are popular with renters. The walls have been freshly painted and are move in ready!  This day and age security is important for both the landlord ... 10/19/2011

 In a perfect world every home purchase would be a 100% cash deal. But since our world is anything but perfect, at times we must get creative with home financing. One method that is becoming more popular is the lease-purchase arrangement.  Simply put, the buyer will enter into a contract to lease a property until such time that they can purchase the home using traditional financing. Though it sounds simple, the Devil truly is in the details. Here are some things to be aware of going in. 1) Will my credit improve enough during the lease term to purchase the home-- Everybody thinks their credit will be better next year. By some miracle, years of accumulated debt/ poor financial decision making will suddenly improve. Improvement can occur, but be warned such change takes hard work and a c... 10/15/2011