We recently relocated to Colorado, where the buffalo roam and the skies are not cloudy all day! Nestled in the foothills of the Rocky Mountains, we've landed in Broomfield, Colorado. Just north of Denver and stone's throw from Boulder, we're in the epicenter of renewable energy, abundant with business opportunities and natural beauty in all directions. My contact information is still the same, chip.bruss@realliving.com and 614-273-7796. Feel free to email or call anytime!
-Chip Bruss
Friday, September 12, 2008
Saturday, July 12, 2008
BUY NOW, I'M NOT KIDDING!
Fortune Magazine posted a really good article about the critical element to a recovery of the housing crisis. The king pin to the whole deal is THE FIRST TIME HOME BUYER. Why is that, you say?
"The key player in any recovery scenario is the first time buyer. The housing market operates with a pronounced laddering or ripple effect. When entry-level buyers flood the market, they not only stimulate production of new homes, they purchase existing homes. Those purchases, in turn, allow the sellers to move up to bigger houses. But when the first-timers are absent, the entire buying chain gets frozen."
Since the mortgage melt-down, it has become tougher and tougher to get loans. And for good reason, since the cause of the debacle was loose lending practices. But without those first time home buyers getting new loans, the whole system shuts down. But if you have reasonably good credit and can afford a 3% down payment, you're in luck. FHA, The Federal Housing Administration is underwriting loans at a record pace right now.
But there is another dark character looming in the wings. It's called Inflation. Anybody notice the price of just about everything going up? And it's not just at the pump. Believe me, you and I will feel the effects of inflation long before the federal government says we have a problem. But guess how the Fed fights inflation? You guessed it, they raise the interest rates. This in turn will be disastrous for the housing market, because it will scare away the already nervous buyers.
So here's the bottom line. Right now really is a perfect time to buy real estate. All the planets are perfectly lined up--large selection, low prices, and good interest rates. As soon as interest rates go up (and this crystal ball says they have to go up) the whole game changes. So if you're in the market for a home, you better get moving, cuz the times they are a changin.
Fortune: On The Path to a Housing Rebound
"The key player in any recovery scenario is the first time buyer. The housing market operates with a pronounced laddering or ripple effect. When entry-level buyers flood the market, they not only stimulate production of new homes, they purchase existing homes. Those purchases, in turn, allow the sellers to move up to bigger houses. But when the first-timers are absent, the entire buying chain gets frozen."
Since the mortgage melt-down, it has become tougher and tougher to get loans. And for good reason, since the cause of the debacle was loose lending practices. But without those first time home buyers getting new loans, the whole system shuts down. But if you have reasonably good credit and can afford a 3% down payment, you're in luck. FHA, The Federal Housing Administration is underwriting loans at a record pace right now.
But there is another dark character looming in the wings. It's called Inflation. Anybody notice the price of just about everything going up? And it's not just at the pump. Believe me, you and I will feel the effects of inflation long before the federal government says we have a problem. But guess how the Fed fights inflation? You guessed it, they raise the interest rates. This in turn will be disastrous for the housing market, because it will scare away the already nervous buyers.
So here's the bottom line. Right now really is a perfect time to buy real estate. All the planets are perfectly lined up--large selection, low prices, and good interest rates. As soon as interest rates go up (and this crystal ball says they have to go up) the whole game changes. So if you're in the market for a home, you better get moving, cuz the times they are a changin.
Fortune: On The Path to a Housing Rebound
Thursday, March 20, 2008
New Construction
I wanted to add some info to yesterday's blog about buying new construction homes. There is no central database like the MLS for new homes, which can make searching for new homes a little more difficult.
Here are two useful web sites to help you search for new home locations: www.chipbruss.com and www.columbuslocaldevelopments.com.
References: I can give you several horror stories of people who did not have Realtor representation and have spent years fighting the builder to get problems corrected. On the flip side, I can share numerous success stories of satisfied customers who I have represented and are now happily settled in their new homes. Happy to share refrences.
Here are two useful web sites to help you search for new home locations: www.chipbruss.com and www.columbuslocaldevelopments.com.
References: I can give you several horror stories of people who did not have Realtor representation and have spent years fighting the builder to get problems corrected. On the flip side, I can share numerous success stories of satisfied customers who I have represented and are now happily settled in their new homes. Happy to share refrences.
Wednesday, March 12, 2008
New Construction - Using A Realtor
New home communities are more popular than ever! With good reason - new home builders are using popular open floor plans, including upgraded appliances and landscaping packages, as well as special financing incentives, making it easier than ever to get into a new home with little or no money down. Believe me, home builders are just as motivated to sell homes as home owners, except that builders can throw in more incentives to sweeten the deal.
But remember one thing, you should always have a qualified Realtor represent you. Why? Because a good real estate agent knows the laws and contracts and will make sure that you are represented in the deal. If you work with the builder's sales agent, they work directly for the home builder and their job is get the best deal for the builder, not you. Furthermore, having an agent on your side doesn't cost you a penny and will, in fact, improve your negotiating position. We have been able to negotiate better deals for our clients than they could get on their own. And we protected our clients by having full home inspections and a lawyer present at the closing table. Home builders are happy to work with Realtors because they know that we are a major source of business for them and protect our clients, making sure they are represented properly. After all, everyone wants a happy customer, right?
But remember one thing, you should always have a qualified Realtor represent you. Why? Because a good real estate agent knows the laws and contracts and will make sure that you are represented in the deal. If you work with the builder's sales agent, they work directly for the home builder and their job is get the best deal for the builder, not you. Furthermore, having an agent on your side doesn't cost you a penny and will, in fact, improve your negotiating position. We have been able to negotiate better deals for our clients than they could get on their own. And we protected our clients by having full home inspections and a lawyer present at the closing table. Home builders are happy to work with Realtors because they know that we are a major source of business for them and protect our clients, making sure they are represented properly. After all, everyone wants a happy customer, right?
Friday, January 25, 2008
BEYOND THE SALES PITCH
Beyond The Sales Pitch
Well, 2007 wasn’t the greatest year for Real Estate, but for some reason, it was my personal best year since I started in 2003. I’m incredibly grateful that 2007 ended well, especially with all the bad news, markets shifting, talk of recession and everything else. But as I look back, I attribute the good news to three things. Referrals, referrals, and referrals. Which really means, I owe a huge Thank You to all of you!
I run my real estate practice 100% on referrals from customers, friends, and family. And the fact that my clients trust me enough to take care of their friends and family is truly what drives me forward everyday. I’ve learned that Upper Arlington and Columbus are both very small towns and whether it’s good news or bad news, it all gets around. So my goal is to give people the very best counsel and service that I possibly can.
Which brings me to my real point. What do people really want these days, in terms of real estate services? I strongly believe that the real estate industry is going through a huge transformation and, like most other industries, it will be primarily driven by the needs and desires of customers. The change is from Realtors who are seen as slick sales people to Real Estate Agents who are true counselors and purveyors of sound advice and useful knowledge. After all, we are counseling people on the biggest investment in their lives, both financially and emotionally!
That’s why I tell people, “There’s no sales pitch here”. Nobody wants a sales pitch anymore. They want solid information, advice they can trust, legal counsel that protects, ideas and strategies that work, skill and care when handling transactions, experienced negotiating tactics, and more. But above all, I believe what people really seek is honesty. Honesty that cuts through all the bull crap and plethora of mis-information about real estate out there. We are bombarded by so much information these days that separating the truth from fantasy can be really tough.
So please keep those referrals coming, as 2008 is shaping up to be a challenging year. But one thing you can count on is that I will treat your friends and family like family and they won’t get a sales pitch from me. Let’s make this a great year together and as always, if you have any questions about real estate, you know who to call.
Well, 2007 wasn’t the greatest year for Real Estate, but for some reason, it was my personal best year since I started in 2003. I’m incredibly grateful that 2007 ended well, especially with all the bad news, markets shifting, talk of recession and everything else. But as I look back, I attribute the good news to three things. Referrals, referrals, and referrals. Which really means, I owe a huge Thank You to all of you!
I run my real estate practice 100% on referrals from customers, friends, and family. And the fact that my clients trust me enough to take care of their friends and family is truly what drives me forward everyday. I’ve learned that Upper Arlington and Columbus are both very small towns and whether it’s good news or bad news, it all gets around. So my goal is to give people the very best counsel and service that I possibly can.
Which brings me to my real point. What do people really want these days, in terms of real estate services? I strongly believe that the real estate industry is going through a huge transformation and, like most other industries, it will be primarily driven by the needs and desires of customers. The change is from Realtors who are seen as slick sales people to Real Estate Agents who are true counselors and purveyors of sound advice and useful knowledge. After all, we are counseling people on the biggest investment in their lives, both financially and emotionally!
That’s why I tell people, “There’s no sales pitch here”. Nobody wants a sales pitch anymore. They want solid information, advice they can trust, legal counsel that protects, ideas and strategies that work, skill and care when handling transactions, experienced negotiating tactics, and more. But above all, I believe what people really seek is honesty. Honesty that cuts through all the bull crap and plethora of mis-information about real estate out there. We are bombarded by so much information these days that separating the truth from fantasy can be really tough.
So please keep those referrals coming, as 2008 is shaping up to be a challenging year. But one thing you can count on is that I will treat your friends and family like family and they won’t get a sales pitch from me. Let’s make this a great year together and as always, if you have any questions about real estate, you know who to call.
Wednesday, January 16, 2008
Real Estate and Technology
When my father-in-law started in Real Estate 40 years ago, clients would review houses on a 3 x 5 index cards, similar to the card catalogue at your local library.
Years later, the MLS began to publish a book that Realtors would spend hours searching for the perfect home for their clients.
In the early 90's the MLS went electronic and now with a few typed words and a click of a mouse, I have access to over 28,000 listings available in the MLS in the Columbus area.
Real Living went a step further and created Real Living 2.0, an automated search engine that lets people search for their dream home while they sleep. Gone are the days of waiting for the Sunday newspaper to review the Real Estate ads, because those ads are available 24/7 via the world wide web.
Statistics show that 90% of all Internet users search for real estate. That number astounded me, and quite frankly I doubted it's validity, but when I asked a few people if they looked at Real Estate on the Internet, they all responded with an astounding, Yes!
So if you want to search for homes while you cook, clean, or do the vacuuming, just click here to access Real Living's 2.0. Now we just need a robot to do the vacuuming and we'll really be in business!
Years later, the MLS began to publish a book that Realtors would spend hours searching for the perfect home for their clients.
In the early 90's the MLS went electronic and now with a few typed words and a click of a mouse, I have access to over 28,000 listings available in the MLS in the Columbus area.
Real Living went a step further and created Real Living 2.0, an automated search engine that lets people search for their dream home while they sleep. Gone are the days of waiting for the Sunday newspaper to review the Real Estate ads, because those ads are available 24/7 via the world wide web.
Statistics show that 90% of all Internet users search for real estate. That number astounded me, and quite frankly I doubted it's validity, but when I asked a few people if they looked at Real Estate on the Internet, they all responded with an astounding, Yes!
So if you want to search for homes while you cook, clean, or do the vacuuming, just click here to access Real Living's 2.0. Now we just need a robot to do the vacuuming and we'll really be in business!
Monday, January 7, 2008
2007
2007 was not the best year for Real Estate; however, ironically, it was my best year since I began my Real Estate career.
Among the 2007 highlights include:
Among the 2007 highlights include:
- Generating multiple offers on NINE different sales in a "slow" market.
- Selling a German Village house that 3 other agents tried but failed.
- Helping a single woman sell an Upper Arlington Condo that 2 other agents tried but failed.
- Getting multiple offers for an estate sale.
- Selling a 5000 SF home in Upper Arlington in less than 30 days.
- Helping a relocating family from Indianapolis find a beautiful new home.
- Helping a law firm negotiate a downtown condo purchase and build out.
- Helping a widow purchase a surprise home for her daughter 2 weeks before Thanksgiving.
- Selling a 4 unit apartment building for a repeat client.
One of the ways that I know I am doing a good job is when clients refer their friends, family, and co-workers to me.
If you know someone who is interested in buying or selling real estate, please call me at 614-273-7796 or email me at chip.bruss@realliving.com .
I wish everyone a great 2008!
Commerical Real Estate
As a real estate professional I deal mostly with residential and investment properties, but a few times a year, I'll have a commercial project as well.
Last week, I had a client who closed on a very interesting commercial space downtown. The client, a lawyer, wanted to be near the courthouse and was looking for something different than the usual cookie-cutter law firm office - all on a budget, of course! So, after an extensive search, I found him a property that was a modern loft-style office condo within his targeted area.
Whenever a commercial client relocates, they have to ask themselves a lot of questions. Here are a few to start:
Last week, I had a client who closed on a very interesting commercial space downtown. The client, a lawyer, wanted to be near the courthouse and was looking for something different than the usual cookie-cutter law firm office - all on a budget, of course! So, after an extensive search, I found him a property that was a modern loft-style office condo within his targeted area.
Whenever a commercial client relocates, they have to ask themselves a lot of questions. Here are a few to start:
- Where do you want to be located?
- How much space do I need?
- How much parking will I need?
- What kind of image do you want your building to portray?
- How will the building affect the marketing of my company?
- What type of interior space do you want?
- What price range are you looking for?
The space is being built out now and should be finished in the next few months, and I am looking forward to seeing it completed.
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