Sep 16
I’ve said it before, but price sells property. All property (except that which has severe environmental issues whose cleanup will exceed its value) will sell if the price is right. In certain parts of the country, prices increased dramatically over the past 5 years and now the market has turned down so the prices have to come down. It’s basic supply and demand issues and Economics 101. To compensate, one of the nations largest home-builders is having a sale reminiscent of what you see from car dealers. Hovnanian is having a “Deal of the Century” sale this weekend with price cuts of up to $100,000. Early reports of home sales seem promising but whether they hit their target of 1,000 home sales nationwide remains to be seen. We’ve included a link to more on the story below, but the moral of the story is that when real estate is priced properly (based on market conditions) sales occur. They always have and they always will.
Click Here for CNBC Story and Video
Todd (Renegade) Thornton
Sep 11
When will I be able to get all 6 hours (including law)
of my required Kentucky continuing education hours online?
We hope very soon because our 3 hour online “law” course called “Stupid is as Stupid Does” has just been approved by ARELLO. (Association of Real Estate License Law Officials) The last approval we need before we can begin offering the course is from the Kentucky Real Estate Commission. The commission has approved every other course we’ve submitted and the education director has already reviewed the material. The course approval is on the commission agenda for the September 27th, 2007 meeting so barring any unexpected events, we anticipate being able to offer the course starting October 1st. (Pending final approval)
Sep 07
Top 7 Reasons to Take a Real Estate Class
(Even if You Don’t Want to Become a Real Estate Agent)
“Knowledge is Power”
I am not sure who came up with this quote, but I agree 100%. Every minute people just like you and me are making the biggest investment decisions of their lives. They are buying, selling, and investing in real estate without any real estate education or knowledge. More time is probably spent on reading food labels than on learning about real estate. While knowing what you’re putting in your body is important for your physical health, knowing how to spend your money for real estate is imperative Read the rest of this entry »
Sep 07
Setpember 6th, 2007- U.S. District Judge Charles R. Simpson has just overturned a state real estate law banning brokers not licensed in Kentucky from doing real estate deals in Ky. Kentucky was one of a handful of states that had “turf” laws (If your on our turf you need a license)that restricted state-licensed brokers from sharing information or splitting fees (beyond normal referral fees) with out of state brokers. The licensing conflict happened most often in commercial real estate when a company outside of Kentucky but with a nationwide contract with other companies, needed to find suitable locations in Kentucky. They believed they had the right to enter Kentucky to help their clients without the need to obtain a Kentucky Real Estate License for a specific transaction since they are already licensed in their home state which was the basis for the original lawsuit.
At this point it’s unclear, whether the Kentucky Real Estate Commission will vote to appeal the ruling, but one of the current commissioners (Ron Smith) has already commented. “Our problem is to have unlicensed people doing business here. We need to make sure that people doing business in Kentucky follow the Kentucky license law. The ruling sounds like something we can live with.”
We’ll keep you posted and provide the latest updated information.
Sep 06
Here’s a pretty good video discussion on the positives and negatives of smartphones. More real estate agents are now selecting and purchasing smart-phones, but before you buy anything make sure you check with your local MLS because sometimes you’ll need a certain model/brand in order to open lock-boxes or to access MLS data. In most cases the newest smart-phones (I.e. Apple I-Phone) would not be a good choice for real estate agents because it’s not compatible with most MLS systems. The older smart-phones (Palm/Treo) would likely be more compatable, but they don’t necessarily contain the newest and coolest features. I guess you can’t have everything!
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