March 29, 2006

Zillow Schmillo

Many of you have heard of a new website called Zillow.com.  It’s a place that promises “Free, Instant Valuations and Data for 60,000,000+ Homes” as well as tools for Buyers, Sellers and Owners.  Many agents are in a panic because they fear Zillow will make available one tool that they have to use with the public…comps.

The data Zillow provides is nothing new. The way they interpret and present the data is new, but the data itself has always been publicly available. Zillow has just simplified the data acquisition process and created clever phrases like the "Zestimate," fancy talk for their own best guess.
They say it themselves on their website: "We've done the legwork by getting huge amounts of data...and creating something unique that the public sources don't provide - a Zestimate..."
I found a website once where I could enter a description of car trouble I was having: engine lags when accelerating, blue smoke comes from exhaust pipes, etc.
That website gave me a rough idea of what the problem was. It even gave me detailed instructions on repairing these problems, and an estimate of how long it might take. But it didn’t make me a mechanic. And it didn’t make me any more inclined to perform the repairs myself. That's what a professional mechanic is for.
Sure, I took this diagnosis to a mechanic and said "Here's what I think the problem is." But I'll still needed the mechanic's help.
Now consider the fact that houses cost 10, 20, or 30 times more than a car (Rolls Royce aside), and you'll see my point.
Just because I know how much a house might be worth doesn't mean I'm ready to write up a contract and steer the sales process myself. That's a big undertaking that requires professional help. Zillow will not make professional agents out of your clients any more than Weather.com will turn me into a meteorologist.
Zillow is a number cruncher. It can't listen to clients. It can't look out for their interests and respect their needs. It can't offer them unique advice for unique situations. And it can't help them adapt to unforeseen challenges.
In short, it's no replacement for a real estate agent. Fredericksburg Texas Real Estate
Posted by fbgjeff at 14:09:30 | Permanent Link | Comments (2) |

Tax Bite(s)

Allow me, for a moment, to be blunt…TAXES SUCK!

 

Yes, it’s that time of the year again.  The time when we all are reminded of just how oppressive and complicated our system of  “revenue collection” is in this country.  I will admit (grudgingly) that taxes are a necessary evil. How else can we afford for our government to subsidize farmers to not grow crops, build bridges to nowhere and create a whole generation of people that are dependent on “government cheese”!  I digress…

 

Sales tax, property tax, death tax, self-employment tax, capital gains, ordinary income, alternative minimum tax, adjusted gross income, blah, blah, blah!  What ever happened to the idea of a flat tax!  I guess too many lawyers and accountants would be put out of work to make that idea practical.  By the way, for those of you who think all realtors make a ton of money, please revisit my post titles “Ah the Life..” in the May archives of this blog.

 

I’m venting because I just found out how much I owe for 2005.  No, I’m not going to post it.  Suffice to say, TAXES SUCK and I figure all my income from 1/1/06 to about June will all be owed to Uncle Sam.  That’s gives me about a ½ a years worth of income to live off of.  I bet if you do a little figuring, you’re probably in a similar situation…TAXES SUCK don’t they?

 

Fredericksburg Texas Property For Sale

 

Posted by fbgjeff at 10:17:55 | Permanent Link | Comments (0) |

March 23, 2006

Follow the Bouncing Bubble

In the news today…”The pace of home resales in the United States picked up by 5.2% in February, defying forecasts for a slowdown, as warm weather boosted single-family and condo sales, according to trade group data on Thursday that showed a pause in the market‘s cool-down.”


  After all the gloomy forecasts of a housing slowdown, bursting bubble, etc. we see that the housing market has, yet again, defied forecasts.
 What will it take for economists (not to mention the National Association of Realtors-NAR) to realize that you cannot forecast something in macro (i.e. “national”) terms that does not exist or function in or upon macro terms? NAR does all of its members a disservice by playing the media game and refuting stories that are wholly based on a false premise—that being that the real estate market is “national”.  Take a moment to scan the archives of this blog for a more detailed take on the issue.
 Real estate in Fredericksburg, Texas has not experienced a “slowdown”.  Check out newspaper headlines in Austin, San Antonio, etc. and then show me a “slowdown”.
 Followers of this blog will see that this is clearly one of my hot buttons.  The media would appear to like nothing more than for the market to go “splat”.  Luckily, buyers and sellers listen to more than what the NY Times or Washington Post has to say on the matter.  Again, all real estate, like all politics “is local”.
 To the axiom of “Location, Location, Location” we should add “Local, Local, Local”
 Fredericksburg Texas Real Estate
Posted by fbgjeff at 13:47:55 | Permanent Link | Comments (0) |

March 21, 2006

Spring Break Blahs

The relative slow-down in my blogging activity is directly related to the relative slow-down in sales activity due to the fact that there is still a shortage of “good product” on the market.  I’ve been using the down time to beat the bushes harder than usual to find some very specific property for a couple of clients of mine and to convince a couple of folks with some very interesting property to list them for sale with me.  More importantly, it’s been SPRING BREAK!

 

I was able to manage a few days off since the kids were out of school.  We went with some other couple and their kids (there were 18 of us in all) to an area resort call Mo Ranch.  I highly recommend this place for anyone looking for a laid-back, water-oriented respite.  I also took some time off to help my wife with some projects around the house and a final day to take the kids to Fiesta Texas.  It was a bit crowded for my taste, but we bought season passes and will go back when it’s less infested with spring breakers.

 

Getting back into the swing of things I’ve found that not much has changed as far as the quality of listing that are coming out.  Numerous agents share my view that we have lots of buyers and not much to buy!

 

This morning I received a gmail allowing me access to Google’s latest chapter in their world domination handbook…Googlepages.  It’s actually a really simple webpage creation tool but I’m not sure I understand the point as all pages are published under an existing gmail account.  Check out my results at Fredericksburg Texas Real Estate

 

Lastly, the Austin Street remodel is still moving along.  They’ve finished sanding the floors back to the original long-leaf pine, covered them and are almost finished with the interior painting.  The plumber is there re-working some of the bathroom piping and the floor in the bathroom has been repaired.  Things are starting to move a bit more quickly now!

 

Visit Fredericksburg Texas Property For Sale

Posted by fbgjeff at 09:01:10 | Permanent Link | Comments (0) |

March 06, 2006

Anatomy of a Remodel VII

The guys have finally moved inside the big house and are working to “git er done”.  A few small details on the exterior remain but I guess I’ll let those slide to the punch list.  We’re still waiting for the newly built window screens to be painted and hung.  That will complete the exterior makeover and I’ll post some pictures when that happens.

 

We have experienced (apparently) a remodeling phenomenon known as “brittle glass syndrome” (BGS).  This is a little-known plague that haunts older homes that have had the exterior windows taped-off for painting.  Upon removing the paper about half a dozen window and door panes of glass have broken!  Is it the tape, the paint, the contractor?  No, its “old glass” according to the contractor dude.  Puleeeaze!  Not buying it!  One more (or ½ doz.) thing to add to the repair list.

 

The central AC/heat unit went in over the weekend.  The contractor dude found a buddy who is the facilities/mechanical guys at a nearby college to do it “on the side” over the weekend.  The cost differential is pretty substantial over local firms we had bid the installation.  I know, I know, “you get what you pay for”, but as a former property manager for large commercial properties, I know it is common for the maintenance guys to do side jobs to supplement their income.  These guys work on multi-million dollar pieces of equipment all day long and can do small residential jobs in their sleep.  I met the guy on Saturday and am comfortable that he knew what he was doing.

 

We had to make a serious trip to Lowe’s this weekend to pick out and purchase lighting, ceiling fans, flooring (kitchen and bath), bathroom fixtures (faucets, towel bars, etc.).  Three hours and $1,300 later, we’re done with most of that BS.  We still have to get the mini-blinds arranged but that can wait a bit.  At least we didn’t have to drag the kids along!

Posted by fbgjeff at 10:21:35 | Permanent Link | Comments (2) |