People have been asking how much snow we have...

We have this much!!!

This was the scene on our back porch after the big storm.

The trees were coated with ice.

Online Marketing: Internet Buyer vs. Traditional Home Buyer Study

Online Marketing: Internet Buyer vs. Traditional Home Buyer Study: The Real Estate World is Changing even Faster than You Think!



If you believe that the Internet is the single most important factor in your future success, here's your continuing proof that you are correct. Ms. Appleton-Young and CAR® have compiled data of such import and enlightenment that I felt some of it should be shared with you. Pages 62 - 82 of the study compare some distinctions between Internet vs. Traditional buyers and the findings are powerful. These charts show the undeniable trends and the clear preferences consumers have for the Internet approach to buying a home: since the year 2000, virtually every preference that used to favor the traditional approach has been turned upside down and the Internet approach is now overwhelmingly favored. This report is unequivocal evidence that if you are not on the Internet bandwagon and if you can't be found by people searching for homes on the Internet, you are completely "missing the boat" in the real estate business.

Here are just a few of the report's findings:

92% of Internet buyers found their agent on a web site; 63% found them through an Internet search engine; 0% of Internet buyers found their agent through brochures, flyers, yard signs or mailers to their home (does this tell you to spend more on Internet marketing and less on print?);

· In 2000, 28% of people said that they used the Internet as an important part of their home-buying and selection process. In 2006, 70% said they did;

· 86% of home buyers started using the Internet as part of their process BEFORE they started looking for a specific home; the other 14% did after they started looking, but BEFORE they contacted a real estate agent; that means that 100% of buyers surveyed started looking at homes first, agents second. When you combine that finding with the already existing one that fully 81% of Internet buyers stay with the first real estate agent they choose to contact, you can see a powerful case for being able to have consumers find you, first;

· Internet buyers spent an average of 4.8 weeks doing research before contacting an agent; traditional buyers only 1.7 weeks. That means an Internet buyer is better prepared and twice+ as less likely to waste your time;

· Internet buyers bought a home on average after spending 2.2 weeks looking for a home with an agent; traditional buyers spent an average of 7.1 weeks; How high would your productivity be if you could spend 2/3 of the time you now spend previewing with clients and could dedicate it to selling and marketing, instead?

· Internet buyers previewed an average of 6.7 homes with their agent (they had already eliminated ones they did not wish to see), traditional buyers previewed 15.4 homes; an average of just under nine fewer wasted showings per customer;

· Only 3% of all Internet connections available at the primary computer used for the home-buying process were dial-up: Internet home buyers and searchers are not sticking with dial-up, just as they are not sticking with traditional methods;

· The approximate distance between previous residence and new residence for traditional buyers was 25 miles; for Internet buyers, it was 242 miles (you can sell anywhere compared to traditional ways);

· Number of agents an Internet buyer interviewed, on the median: 1; Traditional buyers? 3. (Why would you want fewer auditions and more certain retentions?)

· 69% of Internet buyers said response time was extremely important. 83% of those buyers chose email as their favored communication method with their agent. 0% chose "in person." (The Internet is the new "office visit.")

· Internet buyers were more satisfied with their agents: 4.3 to 3.3 for traditional buyers, on a scale of 5 where 5 is "surpassed expectations."

· 35% of traditional agents listed "faster response time from my agent" as the one thing they would change, if they could, about their experience; Internet buyers? 0%!

· Internet buyers were far more satisfied in every important researched category of satisfaction than traditional buyers were; when asked the number one reason for satisfaction with their agent, 91% of Internet buyers said that satisfaction was because their agent "was always quick to respond." Traditional buyers? Their number one reason was "worked hard on my behalf", chosen by 62% of them, leading us to conclude that traditional buyers did not find their agents "quick to respond."

And, ladies and gentlemen (a little drum roll, here, please), 97% of Internet buyers said they would use the same agent again. Traditional buyers? 50%. (Twice as likely to be satisfied and twice as likely to give a referral, wouldn't you think?)

I'm not an economist, (I don't even play one on TV), but it seems to me that these data show clearly that:

Agents who sell via the Internet do not get as bogged down in unproductive chauffeuring to preview homes as traditional agents do;

Agents who utilize online marketing and have Internet buyers are more liked, more highly regarded, more likely to have a repeat sale with the client,

Agents selling to Internet buyers are likely to work only 2.2 weeks with a buyer before selling a property (vs. 7.1 weeks traditionally);

Agents committed to online marketing may be able to expand their market area to an average 242 mile radius of their location and remain effective due to online communication; people find you on the Internet, call you or email you, and use you to help them find a home in an area they may not know.

The money you may spend on brochures, ads, newspaper ads, and the like should be reconsidered and placed into Internet Marketing.

You need your own website showing your properties and you. You can get a very good one free. What are you waiting for?

Just having a website or a page on your franchise site won't cut it; you must be able to be found by people searching for homes in your considerably larger e-neighborhood. The Internet is a really big place and chances are that you and your site may be lost in its hugeness.

You must be permanently committed to "Thinking Internet." I have heard many agents say "I don't get that involved with Online Marketing; I've been successful the traditional way for 15 years." I offer those of you saying that now two things: my sincere congratulations on your past success and my sincere empathy for the frustration you will suffer as the curve gets further out in front of you. The report told us that in 2006, 63% of Internet buyers (who comprise 70-85% of all buyers today) find their agent on the Internet. We believe that within the next two years, this number will approach 90%. While this CAR® study does not report on every State in the Union, it does report on what is happening in America's biggest and most influential real estate market. No matter where you are, these data and trends are coming at you. You must get on board or you will be literally run over and left behind. Internet selling is the way, and within our lifetimes, the statistics will continue to favor online marketing of real estate in even greater proportions.

(Link to FULL Article)

Gladwin County Michigan Photos

I thought this would be fun to share during this cold winter months. I put together a slide show of some of my favorite photos taken in Gladwin County. I took most of the photos accept for three. The deer and the geese photos were taken by Bill Rivert of Sugar Springs and the photo of the people in the canoe, was taken by one of our guests at one of our vacation rentals. The rest of them, I took. Click on the photo below to visit the slide show.

ENJOY!

Handy Home Buyer Articles

I've added some good articles to my web site for Home Buyers:

Tips on the Home Buying Process by M. Shane

Buying a Dream House? ...Make sure you read this by Sandeep

Tips for Your Home Inspection by M. Shane

Nope... This one isn't for sale

Sorry, but this one isn't for sale. I thought you might enjoy some pretty winter photos with lots of snow and ice. This is our cottage on Blue Lake in Northwestern Gladwin County.

Winter is here! I couldn't resist going out this morning with my camera to take pictures of the beautiful snow. I wish I would have taken some photos the other day before I shoveled all the snow off of the deck.

Look at all of the ice hanging off the overhangs. I tried breaking some of them off... but they're on there good!

Here is a picture of the creek that runs between our lots. It's pretty in the snow. The photo doesn't do it any justice. Imagine the sound of running water in the background as it flows over a small waterfall. That's what it sounds like here. We have a mini waterfall in this creek, but it's not in this photo.

I took a picture of the propane tank, because you can get a better idea of the actual snow sitting on the ground, by looking at it.

Winter or Spring???

Is it really Winter? It's hard to believe that it's the beginning of January!

The picture below was taken on January 3rd.

NO ICE! NONE! NOTHING! ZIP! ZILTCH! NOT'A!

This picture was taken at a private park (for the house listed below) on Wixom Lake/Tobacco River just a couple days ago. It looks like this on every lake in the area! I've never seen the lakes like this in January, before. Christmas weekend 2005, my husband and I were riding our snowmobiles across Lake Lancelot in Sugar Springs! Not this year!

Today, while showing a home on Elbow Lake in NE Clare County, I saw a frog jump into the lake and hide under some fallen leaves at the bottom of the lake. Go figure! Frogs in January!

January 19th marks the first day of Tip-Up Town USA in Houghton Lake! No Ice means No Ice Fishing! They might be out there fishing from boats this year! The show must go on!!!

I saw two people out on Budd Lake today fishing from their bass boat.

If you've been holding off on looking at waterfront cottages until spring, because you didn't think you'd be able to see what the lakes were like... you might want to change your plans. You can see the lakes just fine! Unless we get a good cold snap, the lakes will probably stay this way for a while.

"Tis the Season" to Buy a Second Home!

Why? BECAUSE IT'S A BUYERS MARKET!

Many people don’t think about shopping for a second home in these cold winter months, especially if they are looking to buy waterfront. BUT if you are looking to get a little more of a bargain, then "Tis the Season" to be shopping.

Typically real estate slows down as the months get colder. This is especially true at the beginning of the year, after the holidays have passed and many peoples budgets are a little tighter. During this time many sellers will be more flexible on their price, knowing that it’s not the prime season to sell.

With second homes, many owners don’t like the idea of having to pay for the high cost of heating during these cold months, if the house isn’t occupied. This is even more true with the higher cost of fuel. Often owners will get the property winterized to save money while others will often leave their homes (or cottages) lightly heated to prevent drywall from cracking or to keep other things from shrinking or expanding from the change in temperature.

Also, with today’s job market (especially here in Michigan, with the auto industry being in trouble), many people are looking to get out from under the extra payment of a second home. If a second home owner experiences a job lose or cut in pay, they often can’t they afford to keep their second home mortgage. When this occurs, sellers can sometimes find themselves in a major financial pinch. In some cases they may need to unload that second home in a hurry to prevent foreclosure. Therefore, they are more willing to take a cut on the fair market value price to move the property more quickly.

Another situation that I often run into is a retired couple (or person) deciding to sell their second home to get rid of the responsibility of maintaining two properties. This can often be a burden when health is failing or they simply don’t find the time or have desire to visit their second home anymore. Another reason might be the need for the extra money because of the lack of adequate income from retirement. Depending on their situation, they may or may not be as flexible on their selling price.

Some minor disadvantages of buying a second home during the colder months can range from discomfort of looking at homes (sometimes unheated) in the colder weather, to not knowing what the property actually looks like during the warmer seasons. If you are looking to buy waterfront property, in most cases (in this region of the U.S) the lakes and rivers can often be frozen over and you may not be able to get an idea of what the property might be like during the warmer months. The key to this is to do some research or have the seller (or real estate agent) provide some current photos of the property (and the waterfront) taken during the warmer months of the year. You’ll have to be the judge on whether you are comfortable with the information that is (or is not) provided, so that you can make an educated choice on whether you should entertain making an offer on a property. Sometimes you may want to wait until the spring to make your decision and hope that the property is still available at that time.

As for the advantages, you may be able to pick up a property at a much better price than you would during the prime selling season. Also, since the market is slower during these months, there will be less people looking at homes, therefore minimizing your chances of competing against other potential buyers. This creates a great buyers market for you!

Merry Chrstmas!

Sometimes you just have to make fun of yourself!

I just made a total elf of myself. Check me out by clicking the link below. http://www.elfyourself.com/?userid=e93d72e7e2ac7453b81bc59G06122420

Of course, I had to Elf Jim to: http://www.elfyourself.com/?userid=87ac997a015cf34c82d5336G06122508

Merry Chrstmas!

And... Another Nice Buck Taken!

And Congratulations to Mack Deeds for taking this beautiful 10 point in northeasten Clare County on December 9th at 5:25 PM, with a muzzleloader!!! Good job Mack!!!

Gladwin Parade of Lights! What a BEAUTIFUL Show!

I thought it might be fun to post other neat things that happen in Gladwin, other than just Real Estate! There's so much going on this month with the holidays. I thought it would be fun to post something DIFFERENT. Enjoy!

________________________________

The parade of lights was held in down town Gladwin last night, beginning at 6 pm. As usual, it was a great show and everyone seemed to enjoy all the floats and Christmas lights.

Here comes the fire trucks! (The fire truck below, is from Butman Twp, up in Sugar Springs).

HOOONK! HOOOONK! Goes the Fire Truck!

Here comes Santa Clause with his lit up raindeer & slay!

What a beautiful night to enjoy the lights down at the city park!

Hey! It's Ronald McDonald!

Here's Clifford, the Big Red Dog!

The evening was wrapped up with some beautiful fireworks at the city park. There's nothing like seeing fireworks in a winter winderland of Christmas Lights and Snow!

More pictures of the 9 point buck

Remember this big buck?!?!

Someone just emailed me these photos of the same buck on a different property. These were taken before gun season started, with a deer cam. It's the same deer as above!!!

Congratulations to Arthur Wiard!

Congratulations Art!

Art took this nice 8 point on Oct 15th at 6:40 pm with a bow, in northern Midland County!

WOW! L@@K at this Beautiful 9 Point Buck!!!

CONGRATULATIONS to Lynn Resseguie of Saginaw!

Lynn took this beautiful 9 point in Northern Clare County on Nov 25th, 2006, in the morning. This awesome buck has approximately a 24 inch inside spread. At the DNR check station in Gladwin, this buck was estimated to be 5 1/2 years old.

What a beautiful animal and a once in a lifetime opportunity!

I actually saw this buck in the back of their truck when I passed by them on M-18. I figured they might pull into the DNR office at Gladwin... and they did. I took these pictures at the DNR office at around noon on Saturday.

While was at the office, Mike Simrae pulled in with this nice 8 point and the rack of another nice deer (a nine point). Both were taken this season!

Congratulations to both of you!

Visit my Outdoor Life Page for more outdoor information and to visit the trophy room! http://acreage.gladwinrealestateagent.com/trophypage

Tip of the day.... Toilet Dating!

Here is a handy bit of information that I learned.

Toilet dating....you ask? If you are wondering the age of a house and you think it may still have an original toilet in it... look for the date stamp inside of the toilet tank. Yup...most of them have it! Look for the date and usually the house age will be pretty close.... at least within a year or two.

My deer hunting update...

For those of you who didn't already know.... Yes, I deer hunt. Needless to say, I will be hunting the next couple of days. Maybe a little this weekend. I'll work around my appointments.

As for my update..... Well... nothing yet! I saw a nice buck yesterday morning. It was the first deer I saw.... However, he wouldn't come out from behind a batch of young birch trees. I could see him, but I wasn't comfortable taking a shot through all that brush and risk missing or worse, wounding him and not finding him. I like to wait for a more promising shot. If he would have continued straight on the path he was heading, he would have come out to a little bit of a clearing. But, he was following a doe, and she decided to head straight away from me and he followed. I never got a chance for a good shot! (DANG!)

I saw two other does yesterday morning and 2 more in the evening. Jim saw 6 deer yesterday evening....all does.

I went out again this morning. BRRRRR! Was it cold and windy! The weather was nothing like opening day! The wind was howling! I didn't think I'd see anything this morning, with that nasty wind. Most of the morning I didn't. At around 9:30, three does came across the field and slowed down to a nice walk about 80 yards away from my blind. I put up my gun and looked at all of their heads. No horns. I let them pass.

I'll go out again this evening... Probably around 3 pm or so. Hopefully the wind will simmer down by then.

The Brass Lantern of Houghton Lake is Closing after 33 Years in business

PRUDENVILLE - The Brass Lantern restaurant, recognized by thousands of Houghton Lakers as a beacon of warmth, friendship and fine dining, has served its last meal.

The popular establishment closed Sunday after serving up its diners.

After an auction next Sunday of all contents, including some lovely antique items, the familiar building will be torn down to make room for a and a new Walgreen's.

Here is the link to the whole article: http://www.mlive.com/entertainment/bctimes/index.ssf?/base/features-0/115738302675540.xml&coll=4

However, this article is a little off on it's date. The Brass Lantern was supposed to close in September, but was postponed. The last day that the Brass Lantern was actually open, was yesterday Nov 11th, 2006. I know this, because Jim, the kids and I ate there Friday night (the same night as the snow storm) and we were then informed that Saturday was it's last day. The waitress broke the news to us. Partly because they were out of a lot of menu items. (There won't be any ordering chicken for dinner that night. They were OUT!)

It will be a shame to see it go. The restaurant was a long time landmark in Houghton Lake, with it's warm up north atmosphere and good food.

It will be torn down in the near future to make way for a new Walgreens. What a shame... History lost...

Auction to be held Saturday, November 18th, 2006. Visit John Peck Auctions for more details: http://www.johnpeckauctions.com/upcoming.html

A Tribute to the Edmund Fitzgerald

I thought you might appreciate this. It's a tribute to the Edmund Fitzgerald, which was lost on November 10th, 1975.



The Edmund Fitzgerald took the lives of twenty-nine men over 30 years ago, affecting dozens of families and a countless number of friends and comrades of the shipping industry. The Edmund Fitzgerald is lost, but not forgotten.

Halloween Whitetail

Unrelated to real estate, I thought this was cute and worth posting.

This little whitetail was walking around the Halloween decorations at a home at Blue Lake Estates (the same neighborhood where one of our cottages are). She wasn't scared of us sitting in the car taking a bunch of pictures of her. She just cautiously walked around the yard, nibbling on green grasses. She seemed quite at home amongst the ghosts and ghouls.

Jim is coming back to Real Estate!!!!

Whose Jim, you ask? My husband, of course!

I'm happy to say that Jim has decided to get back into real estate. He has been a licensed real estate agent since 1998 and decided to take a break in 2002, when he actively took the position of Fire Chief for Butman Township in northern Gladwin County/Sugar Springs area.

He's still the fire chief, but has missed being part of Kehoe Realty, and decided to come back! He's also a full time paramedic for Gladwin County. We'll be working together to help better serve our buyers and sellers. As partners in real estate, we feel that we can better serve our customers and clients, especially during the busy months when scheduling times get busy.

Feel free to drop Jim and email or a call, welcoming him back to the business!

Why Proposal 5 Is Wrong for Our Students and Our State

Are you thinking on how to Vote on Proposal 5? Read this first!!!

On Novemeber 7th you will be asked to make a decision regarding automatic education funding in Michigan. Unfortunately for students, Proposal 5 will have very little - if any - impact on their education. Proposal 5 is a cleverly designed package that shifts the burden of skyrocketing teachers' pensions from local school districts over to the state and then over to the taxpayers. Proposal 5 is too expensive and will eventually lead to cuts to critical state services and job-killing tax increases, and has no guarentee to improve education. Moreover, Proposal 5 removes state oversight by locking in the budget with increases year after year regardless of state revenue. Proposal 5 will cripple our state budget and our economy in order to pass the burden of teachers' pensions to state taxpayers.

How much will Proposal 5 Cost?

Real the full article here (PDF): http://www.mirealtors.com/news/realtor/documents/nov066.pdf

Home prices plunge by most in 35 years

I thought this was an interesting article, worth posting on the blog.

Home prices plunge by most in 35 years
By MARTIN CRUTSINGER, AP Economics Writer

The median price of a new home plunged in September by the largest amount in more than 35 years, even as the pace of sales rebounded for a second month.

The Commerce Department reported that the median price for a new home sold in September was $217,100, a drop of 9.7 percent from September 2005. It was the lowest median price for a new home since September 2004 and the sharpest year-over-year decline since December 1970. The weakness in new home prices was even sharper than a 2.5 percent fall in the price of existing homes last month, which had been the biggest drop on record.

For the rest of the article: http://news.yahoo.com/s/ap/20061026/ap_on_bi_go_ec_fi/economy&printer=1

The Real Estate Crunch, 2006

Well, the market isn’t what it was a few years ago. A softer market is here and some sellers are in for a long hall while waiting for their homes to sell. Don’t get me wrong. Things are still selling, but with the softer market and an extremely high inventory of homes for sale, sellers have to be competitive in their pricing. Sometimes price alone, will not help sell a place. There are still the general rules to consider: location, location, location and then the need to buy and then the price.

With the high inventory of homes for sale, buyers have a lot more to choose from and often at discounted prices, to the disadvantage of many sellers. In most cases, a seller has to take a bite on their asking price when an offer is made. Buyers are shopping around for the best deal these days. If their price isn’t accepted on one deal, they can simply go down the road and make an offer on another place. Sellers are often seeing a "take it of leave it" approach when offers are made.

Here in northern Mid Michigan (Gladwin and Clare Counties), we are seeing this pattern quite a bit. Sellers are taking anywhere from an 8 to 14 percent hit on their original asking price. In my area, sellers are getting approximately 89% of their original asking price, with the average days on market being 203 day. This takes into account both waterfront and off water homes, with waterfront properties tending to sell much faster than off water homes.

To see graphs and reports, please click here to view this entire article.

In the Gladwin County Record Newspaper this week

I just had to add this about the 40 acres! A Nice 8 Point Buck taken last night!

I just had to add this about the 40 acres that I just listed. This beautiful 8 point buck was shot with a bow at dusk Oct 13th, 2006. They tracked and found this big guy this morning. This is the second 8 point to be taken off the property in less than a week! This is the bigger buck of the two taken. You just can't beat the deer hunting on this land.

SOLD!!!! 20 Acres on the Cedar River!

A lot of people have been asking me about the piece of property on the Cedar River.

Yes, this one did close sale on October 13th, 2006. I thought I better post this on my blog to update everyone that's been calling and checking on it.

Thanks for all your calls.

However, I did just list a wonderful 40 acre parcel in the same area for $129,900. It also has the Cedar River flowing through it and a rustic hunting cabin. Check out the post below for more information and a TON of photos. Don't forget to click on the link towards the bottom of that post to view more information and to take the virtual tour.

Things to Consider When Buying a Home by Raynor James

When you make the decision to buy a home, there are a number of things you need to keep in mind. Here is a quick guideline to the basics that should help you get it right.

Things to Consider When Buying a Home

When most people think about buying a home, the immediately start envisioning how nice it will be to own the property, the life events that will occur there, how they can improve it to meet their tastes and so on. This is a natural tendency, but it is the wrong way to look at a home.

When purchasing a property, you need to ditch the emotions. It is time to be cold and calculating. Yes, the property will be part of your life for at least a few years, but you eventually are going to need to resell it. You want that sale to be at a profit. Here are a couple of guidelines that will help you avoid a bad decision.

1. Do not purchase the most expensive home on the block. Try to purchase near the low end and upgrade. This will help you realize appreciation on your property and grab a nice slice of profit when selling.

2. Always try to buy in the best school district. This is true even if you do not have kids and have no intention of every having them. Remember, potential buyers of your property may very well have children and they will be looking in areas with good schools.

3. Whenever possible, try to stick to three or more bedroom properties. Yes, that two bedroom is cute, but most buyers are looking for something bigger. Again, we come back to the issue of kids.

4. Buy a newer home. The older a home, the more potential buyer's will be suspicious there is something wrong with the property. The only real exception to this is an older home that is unique or has been extensively remodeled.

5. Location, location, location. As if you did not know this one. It is the oldest cliché in real estate, but also the most accurate. Never, ever buy in a bad location. Always buy in the best location you can possible afford.

6. Go ahead and buy! Property prices fluctuate a bit, but property is always a good investment over time. Don't spend endless amounts of time waiting for the market to drop to some price level you have in mind. It may not.

Obviously, there are lots of issues that go into purchasing a home. If you stick to these basic guidelines, however, you should do fine.

About the Author
Raynor James is with the site - FSBOAmerica.org - FSBO homes for sale by owner.

Thank You! Realtor of the Year for Clare/Gladwin - Ivie Baker

September was a fun and interesting month. On Sept 24-27th, most of the agents at the Kehoe Realty office (and myself), went down to Grand Rapids for the annual Michigan Association of Realtors Conference for classes, networking and entertainment.

I also received the highest honor as Realtor of the Year for the Clare/Gladwin Board of Realtors. I was very honored to receive this once in a lifetime award!

During our visit, we got a chance to meet Dave Couiler (comedian, best known as the character "Joey" on the ABC television series "Full House"). He was our Keynote speaker the evening of the Grand Assembly... and BOY... did he put on a great show! (Here is a picture of Jim & I with Dave, just before the Realtors of the Year were presented at the Grand Assembly).

We had a great time at the MAR Conference and we learned a lot. There were several classes offered throughout the conference and we crammed our days with education and lots of great dining! They fed us very well during our stay!

Chalet on Dunbar Court SOLD $215,000

FYI: This was a hot item towards the end of the summer. This cute Chalet on Main Lake Lancer in Sugar Springs just sold for $215,000

Special Preview of Listings Coming Soon!

This cute Country Chalet is nestled in a woodland setting within Sugar Springs Resort. Feel like you are way out in the country but still close to fun things to do! This home's property back up to commons area leading to the Sugar River & Lake Lancer. Fantastic view of the water. Wildlife at your back door! Deer, turkey, ducks and a wide variety of birds visiting frequently. This home features 3 bedrooms, 1.5 baths, living room with large fireplace, 1.5 car garage, full basement and a nice sunroom to watch the view. Preview a Virtual Tour of this home. Check back for a price on this home.Another Sugar Springs Home!!! This one is also commons to Lake Lancer with a nice view of the water. Rent a dock right out your front door for quick access to the lake. Lakefront living without the lakefront taxes and lakefront prices. You can get a lot more for the price with this home. The same house right on the lake would be a lot more! This cozy bi-level has 3 bedrooms. The lower level is partly finished but it wouldn't take much to fully finish that level for a lot more living space! Price: $129,900 (Virtual Tour Coming Soon)

Find out what Beautiful Sugar Springs has to offer by visiting my Sugar Springs web site at http://SugarSprings.GladwinRealEstateAgent.com

Call to make an appointment to preview these nice homes. I've got the keys!

Commercially Zoned 3.9 acres in the city of Gladwin. Located next to the Brook (Adult Living Center). $45,000

Gladwin Real Estate on the Radio

Find us on the radio at 103.1 Country!

Real Estate Negotiation - Time Power by Steve Gillman

One of the crucial elements of real estate negotiation is time. Understand and master the use of time, and you can buy a home for thousands less.

Here is one of the most important aspects of time:

Deadlines In Real Estate Negotiation

Time is of the essence. It even says as much on most real estate contracts. What does this mean? It means that whoever controls or understands the elements of time has the better negotiating position.

When I bought my first piece of property, I asked the seller why he was selling. He said he was moving. I asked him when he was moving, and he said in a couple weeks. He also mentioned that he wanted to close the sale before he moved. I offered him 20% less than he was asking, and he accepted.

He gave away too much information. Specifically, he gave away his deadline. One of the most important things to understand in real estate negotiation is deadlines. The two specific things to remember are: 1. Don't give away your deadline(s), and 2. Find the other side's deadline(s).

Find out whatever you can about any relevant deadlines. Sometimes there isn't a clear deadline, or there are several deadlines for different parts of the negotiation. Whatever the case, the more information you can gather about those deadlines, the better.

How do you use that information once you have it? The crudest method is to simply delay and wait until the last moment to negotiate. This only works if the other side doesn't walk away, and if your own deadline permits it. It also requires that you don't violate any of the terms of your purchase offer, so the seller can't sell to someone else.

A bit of sophistication is required to use this information effectively. You may want to start by identifying what is most important to you in the negotiation. For example, is the price or the terms the crucial element for you?

Let's assume that price is most important to you. When you wrote the offer, you put some price on it, but you have inspections and other contingencies that allow for everything to be renegotiated. The process of inspections and negotiations ties up the property, so your competition is excluded for the moment. Then you learn that owner really wants to sell by the start of the school year, because he will be moving with his children.

Work on everything else in the negotiations except the price. Have inspections done, agree on what will be included with the property, etc. As the seller's "deadline" approaches, he will be getting anxious to close the deal. Then you let him know you're ready to close quickly. Of course, you'll need the price adjusted due to the results of the inspections.

At this point the seller has the choice of throwing away the whole deal. This means starting over, and not moving when he wanted to. Alternately, he can be happy that he got what he wants most - a quick close. This means giving you your price.

This points up the importance of getting information on the other's deadline, but also the importance of not revealing your own. When I was a real estate agent I heard the story of a man who sold his property for a large profit. He had to pay $80,000 in capital gains taxes unless he rolled the money into another property, as a "title 31 exchange." He had 60 days to close on the new property.

Imagine the abuse he would open himself to if, with ten days to go, the seller learned of his deadline and the cost of missing it. He could threaten to delay closing unless the buyer paid $10,000 extra for some old coin-operated washing machines, for example. Overpay by a few thousand, or lose $80,000. What do you think he would do? You can see the power of time in real estate negotiation.

About the Author

Steve Gillman wrote the book: Cheap Homes - How To Save Thousands Buying Your Next House. To learn more about time, and the other elements of real estate negotiation, and to see a photo of the beautiful home he and his wife bought for $17,500, visit http://www.YourCheapHome.com