The Real Estate Agent Blog

Agents, be careful when dealing with International Real Estate Transactions. Make sure you cross all your t’s and dot all your i’s. The following article is copied from an email I received from NAMAR. NAMAR’s official website is http://www.namar.org/.

Straight from NAMAR:

We received the following Fraud Alert and wanted to share with our membership.

AGENT: I have written a contract that ended up being a “fraud”.

It started with an email from a man in China who wanted a cabin with a view and stated that he was going to move here with his family. I emailed him approximately 10 listings that fit into the criteria he stipulated. He picked one cabin and labeled it “My Choice”. Then he wanted to know a lawyer who could handle it, that his stock broker would be mailing a cashier’s check to the attorney, wanted a contract sent to him, and that it would be an all cash offer. He would be in town on June 5th. The contract was written, full price offer of $649,000, and when I emailed the Contract to him, he stated that the earnest money would be $330,000 instead of the $6,000 as I had filled in. I told him we needed a “wire transfer” and his reply was “Please, a wire would take a long time due to restrictions as it relates to foreign transfers…my broker will send you a cashier’s cheque instead. Don’t want to miss out on my choice of property.”

Several emails went back and forth and then he said that the “cheque” had already been sent according to the instructions I had emailed him. (Law Office name, address, etc.)

The law office did, in fact, receive the check, and after checking the Bank on which it was drawn, they were told that it was a fraudulent check, and that this was the 3rd time this man had tried this.

By Craig Miller
Published on: July 14, 2008

Hey there! As you know, I am a Realtor, and I work in the Metro Atlanta real estate market. “It’s not always what you know, it’s WHO you know!” Sometimes by just knowing other people seems to help you out just as much as if you knew what they did. That is the point of this blog, to network among other bloggers.

I am looking for bloggers who would like to produce more of a web presence. If you like writing, and would like to write on a blog, I’m inviting you to The Real Estate Agent Blog! Every blog you write will contain a link to your website. And I would like someone who posts an article about once a week to add content to this blog, which will help out the writer because on the right of the screen, will be a link to their website.

In order for this to work out the best, the blogger would need to be in an industry that is affected by the real estate market, and also have a website. If you don’t have a website, I could possibly work out a temporary one for you, using the same domain as this blog. Industries affected by real estate would include, and not limited to: mortgage consultants, real estate attorney, other real estate agents (in different markets), pest control company, inspectors, builders, surveyors, contractors and real estate investors.

Anyone interested in getting more web presence, please CONTACT ME. Would you like a link to your website on The Real Estate Agent Blog?

By Craig Miller
Published on: July 12, 2008

One night, just browsing the internet, I ran across the website NYTimes.com. On the site, of course I noticed the Real Estate section. When looking for properties listed in Gwinnett County, I saw the bright yellow Weichert, Realtors logo on nearly all of the listings. Never before had I seen or even heard of Weichert, Realtors. I began wondering how I could advertise on NYTimes.com.

The next day, a Tuesday, my mother and I visited an Agent Luncheon in Loganville, at Kelly Mill Subdivision. As soon as we turned in the subdivision I saw the same bright yellow Weichert, Realtors signs! The luncheon was held by Venita Masters (Realtor, GRI, CSP) and Luis Morales (Broker) with Weichert, Realtors – Private Realty Group.

I started asking questions and chatting with the broker, Luis Morales, while Joan Miller, my mother, was talking with Venita Masters. It turns out that Kelly Mill Subdivision was in need of an agent. My mother and I (Miller Team) then scheduled an appointment with Luis Morales and Venita Masters to see if we were fit to take over the sales of Kelly Mill, and to see what Weichert, Realtors – Private Realty Group has to offer.

Here we are, the Miller Team, currently working at Kelly Mill Subdivision from Sunday – Thursday, 1pm – 6pm and Saturdays, 11am – 6pm.

By Craig Miller
Published on: April 8, 2008

This market snapshot of Ivey Pointe Subdivision is an example of what foreclosures can do to a community’s housing values. The market data was collected April 8, 2008 from FMLS Atlanta. Ivey Pointe S/D is located in the city of Lawrenceville which is Gwinnett County’s City Hall, northeast of Atlanta.

The Data:
The average sales price in Ivey Pointe is currently $153,199. Four houses have sold in 2008. Out of the four that sold, were two foreclosures(f) and one short-sale(ss). Cost of homes were $124,000(f), $154,000(ss), $155,000(f), & $179,796 which ranged, in size, from 3 bedroom / 2 bath to 5 bedroom / 2.5 bath.

Currently, 12 houses are for sale, 1 is a foreclosure and 1 short-sale. The active listings range from $148,497 – $215,000, and from many 3 bedroom / 2.5 bath houses to a 6 bedroom / 3.5 bath house with a basement, respectively. Average listing price is $178,741 for Ivey Pointe S/D.

On a side note, 6 of the 12 active listings are 2 story with 3 bedrooms and 2.5 baths on a slab. Those 6 common houses range in price from $155,000 – $184,900 with an average at $171,450.

Want a Market Snapshot of your subdivision? Contact Me!