HDTenEightyP/NetNews huggingface dataset:
From: alexg@austin.ibm.com ()
Subject: Re: REALTORS ARE WORTH ...
Originator: alexg@madrid.austin.ibm.com
Date: Tue, 22 Dec 1992 17:11:41 GMT
Reply-To: alexg@austin.ibm.com
Organization: IBM Austin



>>In article <BzIKM1.1Jqu@austin.ibm.com> alexg@austin.ibm.com writes:
>>=
>>=I feel, some of them are worth every penny and more, and others aren't.
>>=As in every other profession some excell, most do just mediocre or
>>=sometimes really bad.
>>=
>>=We had listed 3 residential lots with realtor. The listing agent worked
>>=for an agency plus he was a new homes salesman for several large builders
>>=in our area.
>>=
>>=Our consideration was clear. When a buyer comes to look at a new home,
>>=(s)he likes a home but does not like location, our agent would point out 
>>=to our lots.
>>=
>>=Lots were listed for about 4 months, we have'not got a single offer, not even
>>=a low ball one. And this is in the market with a tremendous amount of new 
>>=homes being built and sold every month.
>>=
>>=Listing expired, we put our own signs on the lots and nearby intersection.
>>=Sold all of them within a month.

> Two questions: what were the actual selling prices compared to what you
> were asking through the RE, 

We sold at $10,000 per lot. Original listing price was $13,000
per lot, and was reduced to $10,000 after a month on the market. I later told
our agent we'd take $25,000 for all three .The listing price was not adjusted
though. We didn't have any takers and wanted to move the lots.

>>and to what do you attribute his/her failure
>>and your success?

His failure I attribute to a couple of things: 
a) he was never in the office to take calls and do SELLING. Even the name 
on the agnency's sign was not his, but somebody else's. 

b) Even though we provided all pertinent information about those lots to him,
whoever it was who took calls in the office could only deliver to a potential 
buyer a bare minimum that was in the MLS file.

c) Given the low price, hence low comission, the motivation was not
there either. He did much better selling new homes in the range of $85-120K.
I can certainly relate to that. Although we thought it might be beneficial
to him to sell somebody a lot along with the new home to be built.

As far as our success:
a) An overall market trends were very favorable. A lot of new homes building
and sales all over the city.

b) We owned a rental house on the same street, drove there every other week
and followed this particular subdivision trends very closely. We were able
to do better selling, that is to provide more info on the lots than anybody
would even ask for including water/sewer availablity, tapping fees, plat
maps, flood zone certification, preliminary title committment from a
title company, etc.. 

c) We were prepared to suggest a couple of financing options
to a potential buyer that would reduce their out of pocket cash outlay (no,
I don't mean seller financing; we only wanted a cash deal).

- Alex Gurevich    alexg@austin.ibm.com
Newsgroups: misc.invest.real-estate
From: willittl@spock.NMSU.Edu (William  Little)
Subject: Real Estate Computer Program
Organization: New Mexico State University
Date: Mon, 4 Jan 1993 04:08:19 GMT


Well, here's my plug.

This is aimed towards any Agents, Assistants, wanna-be
Agents, or people who like to keep track of the same things
real-estate do.

The program is called Howard and Friends.  You've probably
heard about it in real-estate circles, from your friends, 
but that could be it.  We don't really advertise.

Howard and Friends is THE easiest real-estate program to use,
and covers the widest area.  It keeps track of all Listings,
Closings, Prospects...  all the people you keep in contact
with.

It has a built in word processor (w/spellcheck & laser fonts) 
and templates to print up postcards, forms, letters.. and many
other.  You can gather "groups" of people with just a few
keystrokes and print post-cards or letters to the entire
group of people.

There is a Daily Plan that keeps everything organized.  It has
a calendar to keep up with your future events...

Everything you need.

We're working on modifications to 
allow the program to link-up with MLS (Multiple Listing
Services), Mini-networks (printer port to printer port),
LAN services for a large office, and modem-data-transfer.

If you're an agent, assistant, or somebody in between...

Give us a call!


Joseph Good
Sanderson Data Systems
Programmer / Technical Assistance
Tel:  (505) 525-9189
Fax:  (505) 523-4246
Email:  jgood@scf.nmsu.edu
        jgood@freedom.nmsu.edu


PS - Please don't flame me if you feel this was in bad
taste.  The only thing that will do is hog bandwidth.
This will be the only posting of the sorts, so you don't
have to worry about it ever again.  Therefore, you don't 
have to send me anything.. K?
Newsgroups: misc.invest.real-estate
From: cthorne@magnus.acs.ohio-state.edu (Charles E Thorne)
Subject: Re: What do listing agents do??? 
Organization: The Ohio State University
Distribution: usa
Date: Tue, 22 Dec 1992 16:22:08 GMT

In article <1992Dec18.214812.14466@venice.sedd.trw.com> tjio@venice.sedd.trw.com (Lee Tjio) writes:
>While I could see the "added value" of using a realtor to find a home, I
>still fail to see the need to have a listing agent.  All they do is
>to spend 30 min to figure out what the seller's asking $$ and desires
>are, to spend 10 min to fill out the form to go to MLS, and to put
>up a sign that is more like an advertisement for themselves.  After all 
>that, they sit on their butt waiting for offers. And they get 3% of the
>sale price???? OR do I just happen to use a "bad" realtor.  What would 
>a good listing agent do?

The good listing agent does a number of things.  The first issue is that
whereas anyone can be a selling agent (taking people around, showing them
houses and getting them to make offers), finding someone to trust you to
sell their home take a reputation that takes years to develop.

In addition, setting the price is extremely important.  Just asking the
seller what they want doesn't get the house sold.  The house needs to be
priced at close to market.  If you're looking for a 100,000 house, you 
won't waste your time looking at houses priced at l50,000 (particularly in
the l00,000 neighborhood).  Getting the seller to "realistically" price
their house is probably the most important function the listing agent
performs.

Once the house is listed, getting the selling agents to actually show and
sell it is an important function.  Again, the reputation of the listing 
agent is important in getting agents to show it to their clients.  This is
particularly true if the house is unusual, or seems to be over priced.  If 
the "best" agent in town thinks it's worth 150,000, maybe the good selling
agents will try to sell it.

The listing agent also has some legal responsibilities.  As the broker of
record, if something goes wrong, they get sued.  Just simple things like
the roof leaks, the seller knew it, the selling agent "should have" known
it and now the new buyer finds out the roof leaks.  Guess who gets sued. 

Last, but not least, if you're selling through a broker, you'll pay 6 or
7% regardless--you might as well list the property with the best broker
since the price is the same.

Charlie

Newsgroups: misc.invest.real-estate
From: jewels@well.sf.ca.us (Julian Gordon)
Subject: Looking for RealEstate Network
Organization: Whole Earth 'Lectronic Link
X-Newsreader: TIN [version 1.1 PL8]
Date: Sat, 2 Jan 1993 00:44:25 GMT

 I am looking for a possibly commercial network that lists either
 investors or contractors looking for investors. And was wondering
 if anyone had heard of something like that. 

 Julian Gordon



Newsgroups: misc.invest.real-estate
From: pkrause@triton.unm.edu (Paul Krause CIRT)
Subject: Re: multi-family housing as investment
Date: Tue, 22 Dec 92 16:05:35 GMT
Organization: University of New Mexico, Albuquerque

In article <2934045558.0.wk01687@worldlink.com> "Jamet" <wk01687@worldlink.com> writes:
>I am looking for some information on investing in multi-family housing.
>
>     What is a reasonable amount to pay for a rental building?
>      
>     What kind of return is reasonable on this kind of investment?
>Debra
>
Deduct 45% of the gross annual rental income for expenses/vacancy/etc. and
divide the balance by the return you want to earn on your money.  Then
adjust that number down for deferred maintenance and up if you think rents
can be raised.  Thus if the gross annual rent is $25,000 less 45% (11,250) the
net of 13,750 divided by your desired return (10%?) yields a value of 
$137,500.

What makes investing so interesting of course is how differently people feel
about the numbers.  Many will think the percentage for expenses should be
lower which would increase value.  Others will want the desired return to 
be higher, which would lower the value.  Some will look at the property and
see thousands of $'s of deferred maintenance and others will think it is fine
just like it is.  Some will think rents can be raised soon, others not.  Some
expect to use large amounts of their own time to keep costs down and 
collections up, others want a passive situation.  In the end, what counts
is what the building is worth to you.
Paul


Newsgroups: misc.invest.real-estate
From: "Jamet" <wk01687@worldlink.com>
Subject: multi-family housing as investment
Organization: Performance Systems Int'l
Date: Mon, 21 Dec 1992 17:48:51 GMT
X-Mailer: WORLDLink (3.11)

Hello.

I am looking for some information on investing in multi-family housing.

This is probably real basic stuff and I apologize if this is in a FAQ.
My questions are:

     What is a reasonable amount to pay for a rental building?
       (I have heard phrases such as 3.5 times rent roll...)
        I imagine this is contingent on location and condintion of building...
      
     What kind of return is reasonable on this kind of investment?
       (None of the no money down type hype please.)

Recommendations for resource material on this subject would be greatly
appreciated.  Post or e-mail is fine.

Thanks in advance.

Debra
From: pcs$1703@altair.selu.edu
Newsgroups: misc.invest.real-estate
Subject: Real Estate Network in LA
Date: 23 Dec 92 08:41:51 -0600
Organization: Southeastern Louisiana University

I'm trying to locate individuals in the Louisiana area to network with.

	Thanks
From: rburns@key.COM (Randy Burns)
Newsgroups: misc.invest.real-estate
Subject: Secured Loans,Mortgages and Liability
Date: 23 Dec 92 19:04:28 GMT
Organization: Amdahl Corporation, Advanced Systems, Fremont CA

With the California real-estate market going down the toilet,
I'm getting concerned about what might happen to my assets other than my
house. My home equity has already evaporated(i.e. the 30K I used to buy
out my partner, my 24K down payment and 10K of out of pocket expenses I 
used to fix the place up now translates into 10K of equity). What I'm 
now concerned about is whether my other assets can be attached in the event 
that I can no longer meet my mortgage payments. My largest remaining assets
are in a money-purchase pension plan.


Now, what is likely to happen in the event the maket goes down another
20%. My understanding is that if I surrender the house to the bank, my
debt is not completely canceled(i.e. the bank could still attach my other
assets). Am I correct in this understanding? Thanks! I'm also a little 
confused about the situation regarding  exemption of pension  assets from 
forclosure in California.

Thanks!
Newsgroups: misc.invest.real-estate
From: lparisi@shearson.com (Lon G. Parisi)
Subject: Buying (at least thinking about it)
Organization: Lehman Brothers, NY
Distribution: misc.invest.real-estate
Date: Mon, 21 Dec 1992 15:37:46 GMT

Hi all,

I had posted a fairly long article requesting information about banks, market,
etc.

I had limited response so I'll post short questions.

Has the real estate market in in New York City bottomed yet?

What should I pay for a decent one-bedroom fixer-upper?

Please respond to

lparisi@shearson.com
Newsgroups: misc.invest.real-estate
From: macrakis@osf.org (Stavros Macrakis)
Subject: Re: Negotiating a lower commission after an
Organization: OSF Research Institute
	<82Fk02T92fCY01@JUTS.ccc.amdahl.com>
Distribution: usa
Date: 21 Dec 92 12:30:13

In article <82Fk02T92fCY01@JUTS.ccc.amdahl.com> jpr30@ccc.amdahl.com (Jay P Robinson) writes:

   Sellers who want to play childish games of lets-burn-the-realtor-for-
   his-commision dont deserve the professional help of a realtor....

"Game playing" is another name for "negotiating".  There is no reason for
the agent to be any more exempt from this game than the buyer and the
seller.

   ... net sheet[s] shows you how much you will net...:

	- Your asking price  
	- A reasonable selling price that meets your financial requirements
	- Your rock-bottom price

   If you cannot live with any of these numbers, you have no business
   putting your house on the market, and trying to screw the realtor, IMHO.

Obviously, you shouldn't put a house on the market with an asking price
lower than what you'd be willing to accept.  The rest is up to you.  You
might not care if insisting on the asking price means that it takes two
years to sell the house, or you might want to conduct a "Dutch auction",
lowering the asking price every three months.  (I'm not recommending these
strategies, just pointing out that they're possible personal choices.)

	-s

Newsgroups: misc.invest.real-estate
From: jsc@monolith.mit.edu (Jin S Choi)
Subject: Tom Vu, anyone?
Organization: /Net/slayer/users/jsc/.organization
Distribution: usa
Date: Sun, 3 Jan 1993 00:23:46 GMT


I'm not sure if this is the proper place for this, but I was wondering
if anyone knew anything about this guy.

There's this Vietnamese guy that was on TV late last night here in
California hocking his seminars as a way to quick wealth in real estate.
He gives these seminars throughout the US and Canada, and I hear he's
been parodied on Saturday Night Live. He deals in "distressed" housing.

Does anyone have any interesting information about him or his scheme?
Would anyone recommend his seminars?

-Jin

--
Jin Choi
jsc@athena.mit.edu

Newsgroups: misc.invest.real-estate
From: hahn@gigantor.nas.nasa.gov (Jonathan Hahn)
Subject: Re: Negotiating a lower commission after an
Organization: Unetix Inc. @ NASA Ames Research Center, Moffett Field, CA
Date: Wed, 23 Dec 92 00:14:38 GMT

In article <BzFDI9.MBM@mccc.edu> pjh@mccc.edu (Pete Holsberg) writes:
>In article <1glkgvINNjvg@seven-up.East.Sun.COM> jfox@hooksett.East.Sun.COM writes:
>=I'll admit half is a bit extreme to forgo, but it certainly shouldn't be
>=considered unreasonable for a broker to be asked to drop a couple thou off
>=their commission, if it means making a sale...
>
>The total commission on Dave's example was only $7000, split four ways.
>Brokers never cut their pieces of the pie, leaving only $1750 for each
         ^^^^^
>agent. No way to "drop a couple [of] thou" from $1750!!

Never?  Are you certain?  Real estate agencies come in many sizes:
large, medium and small.  My realtor belongs to his wife's agency and I
know for a fact he controlls more than 1.5% of the commission.  I
believe that with real estate agencies, as with most other companies,
the smaller they are, the more flexible they are.  Also, I have heard
from people in the industry that even in large firms, top sellers get
more than 1.5%.

There is nothing ethically or legally preventing them from negotiating
commission, nor is there anything preventing a buyer or seller from
suggesting it.  However, I believe it is considered very bad realtor
etiquette to do it since if the practice became widespread, it would
jepardize the system that they have so much interest in maintaining.

I'm not saying they don't have a right to look out for their own
interests (they do),  it's just that as a home buyer or seller, you
must look out for your own interests and be aware of any conflicts.  As
has been mentioned in previous posts, you cannot depend on the realtor
to do it for you, as the realtor's interests are his/her own, not
necessarily yours.

By the way, in the example above, the realtor's split was $1750 for
selling a house.  Around where I live, you can easily spend $300K
for a small, nothing-of-a-house.  The 1.5% realtor's split would be
$4500.  I think there's a little bit of fat in that figure.

-jon
-- 
hahn@nas.nasa.gov					wk: (415) 604-4360
..!ames!amelia!hahn					hm: (408) 736-7014
Newsgroups: misc.invest.real-estate
From: allen@lawnext.uchicago.edu
Newsgroups: misc.invest.real-estate
Subject: Re: Negotiating a lower commission after an
Date: 29 Dec 92 22:52:18 GMT
Reply-To: allen@lawnext.uchicago.edu
Organization: University of Chicago Computing Organizations

In article <1992Dec23.001438.12814@nas.nasa.gov> hahn@gigantor.nas.nasa.gov  
(Jonathan Hahn) writes:
 
> There is nothing ethically or legally preventing them from negotiating
> commission, nor is there anything preventing a buyer or seller from
> suggesting it.  However, I believe it is considered very bad realtor
> etiquette to do it since if the practice became widespread, it would
> jepardize the system that they have so much interest in maintaining.

One thing to keep in mind using a broker to sell your house is that in most states  
you sign a listing agreement with the broker.  This is a legaly binding contract,  
and thus the negotiating -should- be happening on the front end.  If you lower the  
selling price of the property you are selling, you are, in effect, lowering the  
compensation to the realtor you've hired.  

Remember that the agreement usually states that -you pay- a commision if the agent  
finds a buyer willing and able at the listed amount. (Whether you go through with  
the transaction or not, another story) They also usually say that if the broker  
procures a buyer who is willing to buy from you, (even after the listing expires)  
and regardless of the sale price, then you must pay what is in the contract.  If you  
don't want to pay what is in the contract, as a seller, you can also choose not to  
go through with the deal.

> 
> I'm not saying they don't have a right to look out for their own
> interests (they do),  

They (brokers) are the one's that write the listing agreement which you sign when  
you list your house.  That means YOU BETTER READ IT!!!


>it's just that as a home buyer or seller, you
> must look out for your own interests and be aware of any conflicts.  As
> has been mentioned in previous posts, you cannot depend on the realtor
> to do it for you, as the realtor's interests are his/her own, not
> necessarily yours.


Allen Douglas
email to:
Allen_Douglas@law.uchicago.edu
Newsgroups: misc.invest.real-estate
From: grady@world.std.com (Dick Grady)
Subject: Re: Insurance
Organization: The World Public Access UNIX, Brookline, MA
Date: Mon, 28 Dec 1992 04:54:42 GMT

In article <1992Dec23.084546.1261@altair.selu.edu> pcs$1703@altair.selu.edu writes:
>
> When you buy a house from a agent or home owner and there's a few
>unknown problems, is there insurance you can buy to protect you ?
>
> Is there insurance that would cover roof, structer, and appliance
>problems ?
>

Some national Realty affiliations (such as ERA or Century 21) offer such
insurance.  Usually, a seller will pay for it as an added incentive to
buy the house; if not, then the buyer may pay for it.
The house I bought 11 years ago came with 5 years of insurance
which covered the mechanicals such as heating, plumbing, and appliances.
After four years, the hot water heater started leaking, and I got new one
for free.
It can be paid for by either the seller or the buyer.

-- 
Dick Grady           Salem, NH,  USA            grady@world.std.com
So many newsgroups, so little time!
Newsgroups: misc.invest.real-estate
From: abz@controls.ccd.harris.com (Andrew B. Ziffer)
Subject: How do you get information on discounted properties
Originator: abz@rs2
Organization: Harris Controls
Date: Tue, 22 Dec 1992 18:22:25 GMT



What is the easiest way to get information on properties that have been
discounted, such as foreclosure properties, etc.
Newsgroups: misc.invest.real-estate
From: ff76@vaxb.acs.unt.edu (Jhinuk Chowdhury)
Subject: Everything A R-E Agent Doesn't Want U 2 Know.
Organization: University of North Texas
Date: Wed, 23 Dec 1992 17:20:09 GMT

I wonder if any of you have read the book, "Everything A Real Estate Doesn't
Want You To Know," by James W. Hart, IV.  If you have, what are your
impressions of it?

For those of you who may be interested, it is published by Smart Books, Inc.
from Maumee, OH.

Best regards, 

- Jhinuk -

Jhinuk Chowdhury
Internet:  chowdhur@cobaf.unt.edu   -or-  ff76@vaxb.acs.unt.edu
Newsgroups: misc.invest
From: rravi@cbnewsj.cb.att.com (ramesh.ravi)
Subject: Re: Condemned by Barron's--Is it significant????
Organization: AT&T
Distribution: usa
Date: Wed, 23 Dec 1992 18:59:21 GMT

In article <calinski.725123521@calspan.com>, calinski@calspan.com (Peter Calinski) writes:
> I'm not a regular reader of Barron's but, in the past year, I know of two 
> stocks, Marvel and Conseco, that were bashed by Barron's. Of course, in 
> both cases, the stock fell a considerable amount.  However, also in both cases,
> within a year, both subsequently hit new highs.
> 
> 
> Do they always get it wrong?  Looks like a way to make money big time.
> 
> I heard on Monday that Barron's knocked another stock (I can't remember the 
> name but I think it started with an M.  It dropped something like 8 to $24).
> 
> Does anyone know of other cases where Barron's screws up like this?

I remember about an year ago, Mentor Graphics was recommended very strongly
when the price was around 20 dollars and it went down subsequently to around
5 dollars and now it is some around 8 dollars.

Ramesh Ravi
ramesh@nra0.att.com
(908)615-5082
Newsgroups: misc.invest
From: rcollins@encore.com (Roger Collins)
Subject: Novell buys USL
Reply-To: rcollins@encore.com
Organization: Encore Computer Corporation
Date: Tue, 22 Dec 1992 15:13:32 GMT

I read today that Novell is trying to buy Unix Systems Lab.  What
does it mean for USL?  for Novell?  for Unix?  for Microsoft?
Newsgroups: misc.invest,misc.taxes