How to shop for a mortgage lender for your Tallahassee home

Some things are a given in buying a home in Tallahassee, Florida, and elsewhere. There are usually going to be fees, fees, and more fees associated with a real estate transaction. However, we can minimize the fees significantly by shopping around when looking for a mortgage loan.

Lenders can offer a one-bundled fee guarantee, or can offer many confusing, irritating fees. When shopping for a lender, I look not just at interest rates, and terms, but also at lender fees. The fees can be significant or minor, but typically, the buyer will need some money to cover the closing costs associated with getting a mortgage loan to buy a home. I would look at an online lender more than an established lender in an offline building structure,  since the costs will probably be less to you, the consumer, and less to the lender. After all,  brick and mortar has a high cost, and the cost passes down to you the buyer.  In fact, I have seen a great deal on a home, but the buyer went with a lender that offered  a not-so-great-a-deal on the mortgage end of the Tallahassee real estate transaction. The lender fees would be so unnecessary if the lender had been an online lender, without an elaborate network of office buildings and overhead.

There are three categories of fees in a real estate closing, whether in Tallahassee, Florida, or elsewhere:

1. Lender fees are the fees that a lender has control over. They can be presented as multiple fees, such as origination fees, administrative fees, transaction fees, processing fee, tax service fee, loan setup fee, funding fee, and others.  Lender fees can also be presented as one bundled fee, a guaranteed fee that will not increase ever. That is the
kind of lender I would use. Just like I would prefer a fixed rate mortgage over the potential risk of an adjustible rate mortgage, with the uncertainty of interest rate fluctuations. I like price guarantees in real estate transactions since real estate
presents big money.

We are often confused by the many different things we have to pay for when getting a
mortgage loan.   When you are out comparing lenders, you will find it much easier to compare lenders with one bundled fee instead of comparing many fees from one lender with many fees from another lender, which of course, take so much precious time.

2. Third-party fees are fees that the mortgage lender does not control, but however, may be able to negotiate the best deal on your behalf. I would ask the lender about this. The buyer does have input into many of the third party fees, and who does the work to charge them.  These fees include appraisal, inspection, title, survey, and others. These third parties are necessary to a real estate transaction to protect all parties to the deal, and are often required by law as well.

3. Then, there are the prepaids, such as prepaid interest, and prepaid taxes. Although you can compare lenders by interest rates and lender fees, it is not reasonable
to compare lenders by escrow items, or since these are fluctuating costs, and are undetermined by the lender.  Lenders can sometimes estimate third-party fees, however. Property taxes, and title insurance can vary by location, and timeframe.

Closing is easy to understand when the fees are apparent, and identified, and I find it much easier to think in terms of lender fees, third- party fees, including government fees, and escrow items and prepaids. I know what the lender can and cannot guarantee. I look for as many guarantees as possible  when searching for a mortgage lender. There are great guarantees out
there in the mortgage world.

Kenneth Fach, REALTOR, ePRO
Weichert, REALTORS-Anchor
1607 Village Square Blvd, Suite B103
Tallahassee, FL 32303
Cell 850-339-5753   Blog http://KennethFach.wordpress.com 
Web http://KennethFach.com

Each office is independently owned and operated.

A Tallahassee Real Estate Agent Uses Stikkit to Organize

I have been very successful with organizing my tasks, and scheduling appointments and to dos, using an online program called Stikkit. As a Tallahassee real estate agent, I need a system, I need to maintain, feed, organize, and rearrange my database. I need to be able to make quick and easy notes, in the field, and in my home, and to list reminders. I do it all through the the online system of stikkit.com. It is a very user friendly, easy to use, software, that makes it a pleasure to input stikkits, because it is simple, fun, and the appearance is attractive. Plus I get email reminders of what needs to be done as well.

 Stikkit is a free system for storing, and arranging your tasks. I use it to keep up with my database, and service transactions as well. In fact to a certain degree, Stikkit is my Tallahassee real estate agent database. I find it to serve me very well, as a tool should. Tools are our servants.  The best part is, I can do everything with stikkit on my Treo smart phone, without having to access a PC, or laptop. Since it is internet based, I don’t have to worry about losing data, my stikkits.  From any internet connection, I can view my stikkits, and review or update my stucks.

You know how so many people use those small, yellow note pads. They are still used. I have worked in office settings. Well, that is what stikkit serves as, except, it is an advanced online, yellow notepad system, fully electronic, and intuitive. You interact, and it updates other stikkits. It will cross reference for you and track your stikkit history. You can share your stikkits with others too. There is a tag system, like what you find in blog platforms. You can search stikkits using the system of tags. If used as a database of contacts, you can look up contacts by clicking on a letter.

A hard working entrepreneur, including a  real estate agent,  , would greatly benefit from using the Stikkit system. It is a benefit to me, even with all the other systems available. I am going to stick with Stikkit. It works for me and serves me, from my home in Tallahassee to the many neighborhoods I frequent to view homes, show homes, and learn more about the markets. I like the online protection and safety of storing information, but I also use mobile Excel with my Treo to store and update data, in my real estate work, and research, as well. It is all about order. “Order is heaven’s first law,” said Pope, many years ago.

Kenneth Fach, REALTOR, ePRO Certified
Weichert, REALTORS-Anchor
1607 Village Square Blvd, Suite B103
Tallahassee, FL 32303
Cell 850-339-5753   Web  http://KennethFach.com
Blog http://KennethFach.wordpress.com

Each office is independently owned and operated.

Thinking and Dreaming Real Estate

There is not a day that goes by when the words, “real estate” does not lodge, and move around in my consciousness, specifically, Tallahassee real estate, and northwest Florida real estate.  

I like to think of real estate as a scientific system; an open system. I think a lot in terms of science and logic. Science explains the universe, and why things do what they do. I teach my son some things about science, and ecosystems. I was a school teacher prior to coming into real estate sales, so I always have an interest in learning, and so does my son. I think science is so important in understanding systems.

There is a science explaining the system of real estate, and although, we as practitioners of real estate may not think in terms of a science, or system of logic, we are certainly involved in a system bigger than us, that is moving the parts back and forth, here and there. We are some of the characters in the play. We are on the chess board. We are working the market. We are subjects in the system. We see ourselves in a specific role, working for a specific client, or customer, with a specific goal or outcome, but that specific is governed by the bigger power in the system, the general that moves the specific.
Now, we can also think of real estate as an ecosystem, in my case a northwest Florida, and specifically, a Tallahassee, Florida ecosystem, with its colors, architectural forms, identities of the land, players involved, such as agents, mortgage professionals, buyers, sellers, inspectors, title companies, appraisers, surveyors, inputs, processes, outputs, and feedback: the cybernetic model. Real estate incorporates many different processes, including technological processes.

I think real estate all the time. It is probably the most active word in my thoughts. I think of a science of real estate, an art of real estate, a practice of real estate, the game of real estate, the sport of real estate, the nature of real estate, kingdom of real estate, a family of real estate. Maybe, I am just obscessed with my career, and my love of houses, and land, and the desire to help buyers, sellers and interested others. People around me see my interest, intimacy, and love of real estate. I mean really LOVE.

Here we are, filling out real estate sales contracts, processing property data into the computer, and into listing sites, such as the Multiple Listing Service. Here we are, showing properties, taking photos, coordinating the transaction, answering questions, comparing properties, finding a value range for houses, condos, townhomes, and lot. So much goes into the process of buying and selling real estate. It all becomes clearer if we see that the entire process of creating the real estate transaction, and servicing the transaction is all one with a very big system, that even goes beyond the neighborhood, and city. It is an open door in which many factors impact the transaction.

In Real Estate, You Need Tinder, Kindling, and fuel

When I go camping, I get much inspiration from the campfire. The campfire inspiration helps me with my perspective on things, and supports my business building endeavor. I have plenty of opportunties to build a campfire too. I know  the fundamentals to building a successful,  long lasting fire.

Next time you are in nature, and have the opportunity to make a campfire, study the process that you go through in buiding your fire.  See how you can apply basics of  campfire building  to growing your own business, or taking it to the next level. 

A fire must have oxygen to breath. To breath, there must be a tunnel of air at the bottom or ground level of the fire buildup. A business also needs good air, the oxygen, coming in so the business can grow, and continue. I make a fire by first gathering thre three essential ingredients: tinder, kindling and fuel. I learned this from my years in  Scouting, and camping with friends and family. Gather the amount you need, and have plenty of supply available. In business, you also need to gather the tools, and systems you need to bring forth the business activity.  You have to start with fundamentals.    Like a fire, every business has at least three fundamentals. These are the three essential building blocks to making a successful fire or business.

Next, I decide on the shape of my fire construction. I like the teepee campfire type the best. It works for me. I have a proven and tried system that works in my business too.  I stay with something until I find a better way. As of now, I have not found a better fire formation than the teepee fire type. It is easy to build. I gather three to four pieces of bigger wood, the fuel. I put them up in the form of a teepee, each log leaning against each other.  Then, I put a couple pieces of smaller wood, the kindling sticks, flat down on the ground, parallel to each other. On top of the kindling I spread the tender, which is the real small,  stuff to get the fire going: twigs, dried grass, leaves, or paper. I make sure I don’t add too much to prevent the flow of oxygen into the fire. Then, I add more longer kindling, which is  thinner than  the fuel, but thicker than the tender,  up next to the bigger pieces of fuel wood. I follow this process always, because bulding a fire is a process, just like building a business is a process.    I stay focused and consistent in the building and growing process. Building  a fire is an analogy of the process  in buying or selling a home, or a process in running a shop. We gather the essential tools, and make the essential preparations. I like this tender, kindling and fuel analogy. A business needs good preparation. Goals have to be planned. The shape of the business and type of business have to be decided, just like the shape of the fire center, has to be constructed. There is much trial and error in the beginning. We try to build in one way, and not able to get anywhere, so we try another way. With campfire building, we have to gather some experience, so that we know what type of wood we will need, how much, what type of campfire will work best in what condition, whether it is windy, wet or calm. Be prepared is a lesson always. 

Lighting the fire is the fun part of it all. I am not always successful with lighting my fires and wonder what I did wrong in the building process. The match just does not always get the fire burning. What to do. Perhaps we have all thought about our mistakes in business, or what we need to do to rebuild our business, make it stronger, get it moving forward. It is all in how we constructed our plans, our fire, so to speak. Once the fire is lit, we can sit and watch the unfoldment of our work, our plan. It is a rewarding opportunity.

My Favorite Real Estate Tools

To get any job done, tools have to be used. Tools can be high tech, low tech, or no simple tech. Below is a list of the seven most important real estate tools that I use both in my work as a real estate agent here in Tallahassee, Florida, and in my personal life as a real estate observer.  I share this information as you may want to use these tools too. There are many other tools, but I like to list things in sevens. Here they are:

1. My smart device, which is a Treo 700wx. It keeps my contact database, notes, tasks, calculator, and provides me with my email on the fly, text messenging, Multiple Listing Service application, so I can view properties when with buyers or when studying neighborhoods. I have Google Maps, to view streets, neighborhoods, homes. I also have  a brower on my Treo device. I use it to blog, read blogs, particularly WordPress blogs,  and access websites wherever I am. I can research real estate sites. I can also view PDF files, and excel spreadsheets which I use to document neighborhood real estate data.

2.  A Blog. WordPress is my favorite blog platform for posting blogs,  and for learning and   keeping up with  real estate issues, from other bloggers. WordPress has a lot of dynamic content on so many topics. Buyers, sellers, as well as real estate agents use the blogging service. It is a learning experience to read peoples’ comments, and post comments on others’ blog posts. I consider this a people to people tool. Blogging is about sharing and interacting with others.

3. A digital camera to photograph properties. I have the camera on both my smart device and I have a more powerful stand alone digital camera.

4. A good email account. I use Gmail. I like the folder option, search option, and the filter control. I can also use Google talk and instant message with customers, and prospects while in my Google email account.

5. Google Calendar. I can text message Google Calendar and input events, or appointments, and get a text message back with the input as well as the input on my online Google Calender. So,  the event is recorded in two places. I also use the calendar tool which comes with my smart phone device. 

6. Three property date sources. I use Leon County Property Appraiser website. Most if not all counties, have public information from the local county’s property appraiser website, in which property data can be found: approximate square footage, age of home, dimensions, last sold date, sold amount, owner information, and more information. Also, Housefront offers a great service for accessing pertinent property data from you cell phone via a text message. I use this regularly. Trulia offers a public database of homes sold and homes on the market in localities around the country. It offers an excellent mapping tool, in which you can identify where the homes that are on the market and have recently sold. You can select criteria for searching, such as zip codes of interest, size of home, number of bedrooms, to name a few options for a search.  I use Trulia daily, but also use the Multiple Listing Service whcih offers detailed information, but you have to be members of the service. This is one of the most valuable tools of any real estate agent.

7. A measuring device certainly comes in handy. Buyers needs to measure room dimensions, even if the listing has the dimensions recorded. Mistakes can be found, and it is always in the buyers best interest to make sure the rooms, garage, property size are correct. There are a number of good measuring devices on the market. You can get simples devices or high tech devices. Sellers need to make sure the dimensions are correct before advertising their property.

If you want to know more about the tools I use, or have real estate questions, please contact me.

Kenneth Fach, REALTOR, ePRO
Weichert, REALTORS-Anchor
1607 Village Square Boulevard, Suite B 103
Tallahassee, Florida 32309
Direct/Text 850-339-5753  Blog: http://KennethFach.wordpress.com

Each office is independently owned and operated.

Real Estate Structuralism

There is an underlying structuralism to real estate.

In literary criticism, “structuralism” is the analysis of a system’s structure and whether it is a closed or open system, and how all the parts in the system interact. Structuralism is a theory, although, not a new one, applied to studying the work of a particular author. We know that there is a structure to the world around us, and to the universe, and that there we all belong to a powerful system, as do all living and nonliving things. Therefore, structuralism is about life, and everthing in it. It demonstrates that there is a science to real estate, to the event of buying or selling a piece of land with a building on it. To understand science, the science or anything, you have to understand the vocabulary. Below I discuss terms to help analyse the structure of real estate, so we can view and analyse the real estate system, which we can call, operating system. The result is having the knowledge of how real estate is formed, or structured, and therefore how it works.

Since technology allows for a fuller understanding of the subject of structuralism, I will use terms that may not have been used by the early structuralists.

We start with a system, or Operating System.

For a system to be a system, there must be inputs, processes, outputs, and feedback. This forms one cybernetic structure. In real estate, the inputs are associated with the desire and need to buy or sell property. There is a process involved in buying and selling real estate, and there has to be a process or the operation or the real estate transaction fails. The output is what occurs as a result of proper inputs and functional processes supporting the inputs, and developing the inputs. The feedback is the happy ending, but which continues the cycle since buying one home, is not the end. Real estate is an unending cycle, always in motion. Markets change. We have buyers markets, sellers markets and normal markets, but real estate is always in movement, never resting, for where there are people, there is the demand, necessity and desire for real estate.

A system cannot operate without laws, rules and principles. In real estate, there are national laws, regional laws, state laws, local laws and ordinances. There are homeowners association bylaws, condominium bylaws, zoning laws, laws that govern mortgate loan processes, laws that govern real estate agents, laws that sellers must adhere to. Real estate is highly regulated as it is a complex system, with many, many parts or players. The Statute of Frauds states that real estate contracts must be in writing for the contracts be be enforced. Documents have to be signed. This brings the element of order to the transaction.

There has to be ORDER. Order has to do with how the components in the system are arranged and organized. Just view each role each player has in a real estate transaction. If one piece of the transaction is missing, that could be devastating. There could be disorder resulting in an upset. This is not good!

Is the system Open or Closed? Is there anything external to real estate that ifluences the buying and selling process? Why certainly there is: the world, national, regional, and local economy. The supply of houses and the demand for houses. Real estate is not a closed system. It is not a fixed system. It is always influenced as well as influences the environment around property.

Categories are according to Webster, “defined divisions in a system of classification.” Categories are tools within the order of the open or closed system. In real estate, there are categories of architectural types of dwellings: single family, duplex, townhouse, condominium, office building. There are more specific catefories, such as categories of single family homes: Ranch style homes, Cape Cod, Tudor, French Colonial, Contemporary, Victorian, Bungalow, etc. There are divisions within the mortgage industry, and type or categories for loans: fixed rate, adjustible rate, interest only. The examples go on and on. There are also categories of buyer types seller types.

The Helpers in the system of real estate are the support mechanisms working together to get the real estate transaction closed and settlement reached. Real estate agents are the big helpers in a real estate transaction bring all the parts together harmoniously and coordinating the activities of the helpers.The stumbling blocks met along the way, and there usually are one or more, are the Enemies. Real estate agents try to prevent, and resolve issues, and that can be a challenge in some cases. Sometimes the enemy may be the other party as in the case of a seller refusing to cooperate with the buyer, or the buyer not being open, honest and fair with the seller.

In real estate as in any system there are symbols. These symbols can be object, subjects, the helpers and the enemies. A real estate sales contract, or purchase agreement is an honored tool or symbol. It is the keynote speaker in the system. It sets the agenda, the pace, and the to dos. the MLS is a symbol of the agent’s knowledge base of property data, and market forecasts. It is the indispensable tool that aids the helper, the real estate agent. Another symbol is the mortgage contract. Another is the deed to the property. There are many other symbols too.

How we view real estate as a whole or locally is our paradigm, or worldview. Buyers and sellers view property in differents depending on which role they are in.

I hope this provides a clear picture in thought of a complex system’s structure, that of real estate in this example. The real estate system never ever stops, or rests since where there are people, there is the need and desire for shelter, but not just a ceiling, door and walls, but a whole lifestyle. Real estate works in synergy with the whole fabric of human lifestyles, and economics. We all are players in this system. We all have roles.   Some players are more involved, and more directly impact the system than others. Real estate is a very strong, I would say the powerhouse of the world, and of our lifestyles.

Kenneth  Fach, REALTOR, ePRO
Weichert, REALTORS-Anchor
1607 Village Square Boulevard,  Suite B 103
Tallahassee, Florida 32309
Direct/Text  850-339-5753  Blog: http://KennethFach.wordpress.com

Each office is independently owned and operated.

Made in America including a great real estate system

Here are some things that are American bred, made in America, and the strength of America. I have been giving some thought of what countries offer, and should be known for, and I started thinking about my own nation.

The computer, internet, blogging, the most popular blog sites, and the Multiple Listing Service.

About the Multiple Listing Service, or what is commonly called the MLS, originated in America, and provides real estate data, including homes on the market, homes sold, and property statistics, for the entire United States of America. No other nation on earth has such a complex, practical system.

I have had conversations with educated people throughout South America, Europe, and elsewhere, who have never even heard of the concept of a national real estate database or local databases connected together, in one vast web of real estate information used by real estate agents to study the real estate markets, and share property information with buyers and sellers. I tried to introduce this concept when on family and business in Paraguay and Mexico and it was not a easy concept to discuss, as much of the world’s infrastructure is not feasible for such a web of real estate data.

The MLS is one of the REALTOR’s most valuable tools, andI can even access this incredible database on my Treo smartphone.

Throughout the years, the MLS has been only in the hand of agents, but now, with sites like Trulia.com, Zillow.com, Housefront.com and others, the MLS has been opening up information to the general public, although, the completeness of the MLS is still available only to real estate professionals at this time, and I emphasize, at this time.

Many buyers or sellers of real estate in the United States, expect REALTORS to research comparable properties to assist with designing a pricing strategy for the properties to be listed on the market. Buyers ask agents for listings of available properties, and in minutes, the research is done online in the MLS. What a wonderful service!!!

Kenneth Fach, REALTOR, ePRO
Weichert, REALTORS-Anchor
1607 Village Square Boulevard, Suite B 103
Tallahassee, Florida 32309
Direct/Text 850-339-5753  Blog: KennethFach.wordpress.com

Each office is independently owned and operated.

Why I Use Jott to Keep my Thoughts Organized

Jott is one of my favorite tools that I use in real estate, and in my social and family life as well. You will see why i like this tool, and call is a real estate tool of importance.

I have observed that so many people misplace things, cannot remember easy but important things, and just put off doing what should or needs to be done. Myself is included in this. I, probably more than anyone else, need a reliable system of order. With Jott, another incredible Web 2.0 creation, I have more order in my life, and can keep my ideas, reminders, to dos, in a safe, orderly place online, and on my cell phone, in the text messaging application.

This is how Jott works. You call the Jott number, and respond to the voice that asks you, “Who do you want to Jott?” You say “me,” “myself,” or the name of the group or folder you want the Jott to go go. Then, you leave a brief message, and that is it.

Here are the reasons why I use Jott daily and why you can use it too.
1. I can get my audio, and text transcription in the text message application of my Treo, and in my gmail inbox, under a a label I created specifically for jotts.

2. I  get a summary of  my past and present jotts daily, kind of like a digest of jotts, so I have not only separate emails for each individual jott, but also a conpendium of  jotts.

3. I can set up Groups for my jotts. My groups include, customers, business to dos, bills to pay, spiritual thoughts, family activities. This is so much easier for order, than just throwing all jotts in one big list online.

4.  I have the ability to add or import contacts so my jotts can be sent to them.

5. Contacts can be added to Groups. When Icall jott, and say the name of the Group, all the contacts in that group will have the same message.

6. There is a search feature so that prior jotts can be found. This is really helpful if you have archived a lot of Jotts.

7. I can call  Jott, and say “Reminder” when asked “Who do you want to Jott.” Now, I say the day and time, and then, begin
your message.

The phone number to Jott is 1-866-JOTT-123 and their website is http://Jott.com .

What I like about Jott is that I don’t have to write on paper, or even input on a keyboard what messages I need to keep. I can just call in the messages. I do plenty of keyboarding as it is anyway, in my blogs, and answering emails. Whatever can save time in this busy world, that is a plus to me. Jott has saved me enormous time. It is also, so, so easy to use. I don’t pay anything for the service either. You should check it out.

Kenneth Fach, REALTOR, Internet Professional
Weichert, REALTORS-Anchor
Tallahassee, Florida 32309
Direct/Text  850-339-5753  http://KennethFach.com

Each office is independently owned and operated.

How I practice “Order is heaven’s first law.”

I got up early this morning to upload, and rearrange my documents in my Google Docs account. I basically now have another storage place for my contracts, documents, marketing pieces: Google Docs. As a rule of thumb, we all need more than one place to keep copies of our important documents, both online and offline. Online, Google Docs gives me a lot of easy maneuverability, and user friendliness. I know exactly what I am doing with Google Docs. For my memos, short messages, reminders, to dos, I use JOTT. I simply call the Jott phone number from my Treo, and then I  verbalize my Jott. Then, I get the reminder in three sources: a text message, a transcription in my gmail inbox, and the audio recording, if i don’t feel like wearing out my eyes anymore. The other cool thing is that all my Jotts, are sent to my Gmail inbox under my Jott label. This is easy to set up, and I can assist with this. It only takes a few seconds.

I also text my calendar events to Google Calender. So I get the calender event or appointment as both a text message when it comes back after my texting is done, and in my online Google Calender.

I have to be so organized and systematic to be happy and successful in my days plans and activities. Dad always did quote from Pope, “order is heaven’s first law.” I wonder what the second one would be.

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