Friday, January 24, 2014

Too Many MLSs in Rutherford County? Absolutely

Sunshine NC -- I spotted a great article on my Facebook feed from the National Association of REALTORS® and no doubt many of you did as well. In addition to speaking to frustrated sales associates, "Too Many MLSs" by Meg White, talks about the Real Estate Transaction Standards (RETS) data feeds and says NAR has partnered with MLS and vendor communities to form the Real Estate Standards Organization (RESCO). Things will get a lot better once more standards are put into place in as far as incorrect data is being broadcast. One of my clients is terribly dismayed that Trulia is showing her home as manufactured when it is a modular, but Trulia doesn't have a place for modular and has opted to substitute manufactured instead. Is there a difference? Oh yes, there's a vast difference.

A second article I ran across is "Do You Know Where Your Listings Are? also by Meg White which really explains how syndication works in a way most everyone will understand although it's a complicated issue. One I tried to address in a post "Real Estate Syndication"  using Saul Klein's Listing Syndication Overview video in 2011. 

These are all short and straightforward and address what I think is the biggest challenge the Rutherford County MLS and Board of REALTORS® has faced since their formation. And that is, we don't control the data. Too long the MLS has held tightly to the anchor but the tide is rising. There are too many MLSs operating in Rutherford County and a lot of local Brokers don't belong to our local Board.

There are now more of them then there are of us. Does that concern us? It should and we should be studying what's going on across the country and trying to decide what we're going to do about it before there is no one left. We need to offer these disenfranchised Brokers something. We need to offer more, a better deal, the same List-Hub syndication, lower dues, and more flexibility, lower fines, and more personal service. We have a huge advantage, we're a non-profit with a small staff. Let's use what we have to bring back the Brokers in our county, let's encourage the REALTORS® to shop local. Why are we offending Firms and sending away business? We've got to, cooperate, to collaborate and to improve our customer service and we must understand, the MLS has been dragged, not only into marketing and advertising, but customer service. Embrace that and we may rise with the tide, resist it and the coming tsunami is going to sweep us off the map.

Monday, January 13, 2014

The Remedoling Cost vs Value Report for 2013 is OUT

Gotta say thank you once again to Remodeling Magazine for their Cost vs Value report. Every year I watch and check and every year I am astonished to see that none of the remodeling is recovered by 100%. The good news, I suppose, is that this year, all remodeling recoveries are up across the board, so here's the report for our area.

I'm going to send you to their site, after all, it's their work.

And just out of curiosity, what do you suppose you recover the most money on your investment? A new master suite? Nope only 65.0% on that. Window replacement? Nah vinyl window's will recoup about 74.5% of your investment, so what brings the greatest return? I'm not even going to tell you, amble over and see for yourself.

Surprised? Me, too.

Saturday, January 11, 2014

New Mortgage Rules Roll Out - What Will Be the Impact?

This article from the National Association of REALTORS, explains about the debt to income ration, and I' afraid, if you're self-employed, or an independent contractor you might find getting a new loan this year challenging.

They say the new "deal" is to protect the borrowers, but looks to me like the lenders will come out ahead on this one. See what you think.

New Mortgage Rules Roll Out - What Will Be the Impact?