Posts made in April 2016

How Wealth and Income are Concentrated

From OfTwoMinds blog…

The Lesson of Empires: Once Privilege Limits Social Mobility, Collapse Is Inevitable

April 18, 2016

The next few years will strip away the illusions of “growth” and reveal which dominates our society and economy: privilege or social mobility.

Among the many lessons of empires is one shared by virtually every empire:once the privileged few limit the rise of those from humble origins (i.e. social mobility), the empire is doomed to rising instability and collapse.

Just as a reminder of how wealth and income are increasingly concentrated in the top of the wealth/power pyramid:

The greater the concentration of wealth and power, the lower the social mobility; the lower the social mobility, the greater the odds that the system will collapse when faced with a crisis that it would have easily handled in more egalitarian times.

When the economy is expanding faster than the population and the tide is lifting all ships large and small, the majority of people feel their chances of getting ahead are positive (even if the actual chances remain low).

But when the economy is stagnating, and they see those at the apex of the pyramid still amassing monumental gains, the majority realizes their chances of securing a better life are declining.

The natural result is frustration, anger and a disavowal of the corrupt status quo: in other words, precisely what the U.S. is experiencing in this election cycle.

Keep reading: http://www.oftwominds.com/blogapr16/mobility-collapse4-16.html

For the most up-to-date info on houses for sale

I get calls all of the time from people asking about XYZ property. It doesn’t register. So I do a quick search— but nothing comes up. So we talk a bit more and I tell them I’ll do some research and get back with them with what I find. This happens all of the time- like every day.

What happens next is pretty much routine. I start down a list of websites which includes Zillow, Trulia, Craigslist, etc. Sooner or later I find the XYZ property, and after cross-referencing it with other public records I discover that the property has already sold or is winding its’ way through the foreclosure process. Those that are lingering in the foreclosure pipeline are not available to purchase- no mater who you call or how many times you call. You can fuggetaboutem. Someday down the road (months or even years from now) they’ll be brought to market- that is, if they’re not purchased for cash off the courthouse steps.

And the ones that have already sold? Well, they’ve sold and are no longer available.

So, if you want to buy a house, and want to have the first crack at new houses as they come onto the market, then go to my website www.indyschoicerealestate.com and click on the Available Properties tab. From there you can select whichever tab/property type appeals to you; OR you can select All Properties and then make use of the EZ Button OR you can select the House Finder Service (and after telling us what you want we’ll do all the work to find the perfect property for you!) Going this route, you’ll have access to all the latest in information that could possibly be available.

So, why do those other sites have old information and advertise houses that have already been sold? Well, they’re aggregators, meaning once a week or every couple of days they sweep up info from other sites and then label it their own. But, because they do not operate in real time, their posts are sometimes stale. Others just leave properties on marked Active even though they’ve been sold so that possible buyers will call them and they can sell them a different house. So, back to the paragraph above, if you want the most accurate, current info available then head on over to my website! www.indyschoicerealestate.com

And P.S. if you have questions, just ask. I’ll be happy to make your search successful and more convenient!

“I work harder to make good things happen!!”
-Bob

FSBO’s

FSBO’s (pronounced “Fiss-bo”) is another name for houses that are For Sale By Owner.

Trawl through Craigslist or drive around looking at For Sale signs and you’re going to come across some of these. Last year, only 7% of all homes sold in Central Indiana were actually sold without the guidance or assistance of a Realtor or directly from a builder. (That’s 1 out of every 14 houses sold.)

So what’s the story? Why do some people want to sell their own house? Invariably it boils down to money. Homeowners get an itch to sell and then they start looking at the costs. They figure that by selling themselves they can save thousands of dollars. And to be sure, some do. However, for the most part, people have good intentions but after dealing for several weeks with unqualified buyer prospects, tire kickers, nosy neighbors, and discovering that zero cost advertising yields zero good prospects they start talking to a Realtor (and right quik like there is a new sign in the front yard).

Now, do people buying directly from an owner get a good deal? Well, that’s a BIG “it depends.” First off, while the common thinking is that the price will be lower because the seller doesn’t have to pay a commission, that very often is not the case. Let’s face it, the seller is still trying to maximize his profit. And there’s a fair number of FSBO sellers who go that route because they think they know what their house is worth (and they believe the Realtors they talked with did not). You can pretty much guess that those Realtors weren’t telling them this particular house should sell for more than what the seller was thinking. So, a fair number of FSBO’s are priced higher than what the Realtors thought the market would bear!

But more important than price is a whole host of other issues- things like liens on title, survey encroachments, financing, negotiating inspections, appraisal issues, etc., etc., etc. If these kinds of problems go unnoticed or unresolved they can turn into nightmares- for one or both parties. And there’s more… like, is the seller ethical? Is the buyer? Is the transaction conducted according to applicable law? Is the buyer very knowledgeable so that he or she is capable of protecting their interests? Are there no hiccups or surprises? That’s a whole lot of maybe’s.

Do all Realtor guided deals go flawlessly? Hardly. What I suggest to people is my job is kind of like being Captain of a ship or airplane. There’s a pre-flight plan and the good pilot draws up the best plan he can. But, as the saying goes, “If you want to hear God laugh, just draw up a plan!” So, my job is to use my knowledge and skill to fly that plane through whatever turbulence develops, through whatever mechanical problems unexpectedly pop up, and generally do my best to get ‘er off the ground smoothly, make the best time possible under the circumstances, and then bring her in smooth as silk.

P.S. Now,If you’d like to see how your next real estate transaction might be smooth as silk just give me a call. I’ll be happy to help.

“I work harder to make good things happen!!”
-Bob