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Introduction
Ramon Mares, Perris, Calif.
Kristy Payne, Edmond, Okla.
Louisa Enz, Madison, Wis.
Product Resources
Read Advice Sent to the Newbies
February 2003 Print Magazine Article
Read Ramon's
Past Columns:
June 2002
July 2002
August 2002
September 2002
October 2002
November 2002
December 2002 | |  Ramon Mares
Realty Executives
Perris, Calif.
ramonm@realtors.org
Read the print magazine's article on the newbies from the February 2003 issue of REALTOR® Magazine.
January 2003
I think I’ve found a house! For me, I mean. It’s in Nuevo, a little town about five miles east of Perris. I’ve been looking there for a while–Nuevo is smaller than Perris and still has kind of a wide-open, country feel--and last month found what looks like a great deal--a 3-bedroom stucco house on half an acre of land for $130,000.
According to the comps, the price is about $40,000 under market. The only thing wrong with it that I can see is that the bathroom needs renovating. I took my wife over to see it, and we both agreed it would be perfect for us.
I’m going to use my commission from acting as my own buyer’s agent and hopefully come up with some additional funds to use for a downpayment. I haven’t been approved for a mortgage yet, but I’m hopeful. This would be the first house my wife and I have ever owned. It’s a big step.
We’ve been renting since we got married. It hasn’t been terrible, but I want the security and sense of belonging that comes with owning a house. I’m actually going to experience all the benefits I keep hyping to other first-time buyers.
I also had an odd moment when the seller’s salesperson showed me through the house. When he found out I was in real estate, he offered me a job. He said he’s going to be opening a new office in Nuevo and needed some experienced people to staff it.
I turned him down, but, still, it was flattering. The thing is, Realty Execs really does support its salespeople well. In general, when I need information, I get it right away. No job is perfect, of course, but I feel like my office provides what I need to grow and make a good living in the future.
But I guess this year could have turned out better. My volume in 2002 was about $700,000, up a little bit from 2001, which is good. My income, though, was less, because of all the commission cutting that went on during the year.
The market is definitely slowing. What’s odd is that, while inventory is still pretty tight, prices are actually coming down a little bit. I’m seeing a lot of price reductions on the MLS.
But I did get a new listing this week-- a two-bedroom, two-bathroom mobile home on half an acre of land. Normally, I would price it at $85,000, but they want to sell fast so I suggested we put it on the market for $75,000. The seller is the sister of a friend of mine. Her husband is sick, and they need to move.
I’m also still working with my land buyers. The problem remains finding vacant land that has linkups for electricity and water, since the cost of installing it would add too much to their costs. I think we’ll find someone, but it’s going to take a while. Meanwhile, I call my buyers every week, no matter what’s going on. If there’s one thing I’ve learned in this business, it’s that you have to stay in touch with people.
Feel free to e-mail our real estate beginners with advice for their dilemmas or just to express your support.
E-mail Ramon Pares atramonm@realtors.org
E-mail Kristy Payne at kristyp@realtors.org
E-mail Louisa Enz at louisae@realtors.org
Read Advice Sent to the Newbies
(Editor’s note: We plan on sharing selected letters to our newbies with online readers. If you e-mail any of the newbies, please provide your contact information and let us know if you do not want your letter to appear.) | | |
