MICHAEL CHERRY NAMED TO COLDWELL BANKER® INTERNATIONAL PRESIDENT’S PREMIER

Michael Cherry of Savannah, a sales associate with Coldwell Banker Platinum Partners, has earned membership in the company’s International President’s Premier. This award represents the top 1 percent of all sales associates / representatives worldwide in the Coldwell Banker® system qualified for this distinguished award.

“Michael Cherry’s extensive knowledge and understanding of the overall real estate industry and community in Savannah personify the success embodied by the membership in the International President’s Premier,” says Jim Gillespie, chief executive officer of Coldwell Banker Real Estate LLC. “It’s this type of attention to detail and dedication that have defined the Coldwell Banker brand for over 100 years, and with Cherry, will continue for years to come.”

“Most home-buying decisions are lifestyle-driven, such as having a baby, getting married or moving after retirement,” says Gillespie. “These types of lifestyle changes occur year-in and year-out, in every kind of market, so despite the headlines focused on economic issues, we continue to see people buy and sell homes.”

“I would like to thank all of my wonderful Sellers and Buyer they are the true reason for my success! Their loyalty and trust in me is the key to my success in this business. I would also like to thank Coldwell Banker Platinum Partners for having faith and confidence in my ability all I ever asked for was a chance and they gave it to me. I have been in Real Estate for almost 8 year now 3 of them with Coldwell Banker Platinum Partners and I have earned several designation and numerous awards throughout my career! I am qualified to do just about anything in real estate. I have listed and sold foreclosures, corporate relocation, military relocation, buying and selling investment properties!,” says Michael. Michael Cherry can be reached at 912.308.4556 or find him online at www.MyCbpp.com.

Coldwell Banker Platinum Partners, established in 1995, is a full-service real estate firm with office locations spanning from Beaufort, South Carolina, through the greater Savannah area to St. Simons Island, Georgia. In addition to listing and selling residential real estate, Coldwell Banker Platinum Partners’ other divisions include commercial real estate, property management, relocation services, new homes, a real estate school, mortgage lending and a publishing/media division. The company’s corporate offices are located at 6349 Abercorn St., Savannah, Georgia. For more information visit their Web site at www.MyCbpp.com.

JANE BEARE NAMED TO COLDWELL BANKER® INTERNATIONAL PRESIDENT’S ELITE

Jane Beare of Savannah, a sales associate with Coldwell Banker Platinum Partners, has earned membership in the company’s International President’s Elite. This award represents the top 2 percent of all sales associates / representatives worldwide in the Coldwell Banker® system qualified for this distinguished award.

“Jane Beare’s dedication to hard work and customer service led to great success in 2011,” says Jim Gillespie, chief executive officer, Coldwell Banker Real Estate LLC. “She represents everything the International President’s Elite is about. I’m grateful to work with and learn from great leaders like Beare.”

“Home prices have begun to stabilize, interest rates remain low and affordability has improved with many markets at historically strong levels,” says Gillespie.* “While the last several years have clearly been a challenge, homeownership is still in our DNA as part of the American Dream.”

Jane holds her Accredited Buyer’s Representation, Cendant Mobility Relocation Specialist, DSS (former Million Dollar Club) and Graduate REALTOR® Institute Designations. She is a Coldwell Banker Mortgage Premier Savannah Agent and a Military Relocation Specialist and has been consistently a Top Producer and in the Circle of Excellence at Coldwell Banker Platinum Partners. She is a member of NAR, GAR and SABOR and is also active in church and community functions. Jane can be reached at 912.507.5797 or find her online at www.JaneBeare.com.

Coldwell Banker Real Estate Ranked Highest Real Estate Franchise in Training Magazine’s Annual Training Top 125, No. 9 Overall

PARSIPPANY, N.J. – Feb. 17, 2012 – Coldwell Banker Real Estate LLC has been ranked No. 9 overall among companies from all industries for its Coldwell Banker University training platform in the annual Training Top 125 by Training magazine, the training industry’s premier publication. In addition, Coldwell Banker Real Estate is the highest ranked real estate franchise on the list and is in the company of some of the most prominent training programs in the country. The announcement was made at the Training 2012 Conference & Expo, held earlier this week in Atlanta.

“We are immensely proud to have received this distinction as one of the top ten companies ranked by Training magazine, leading the real estate industry with our training practices,” said Budge Huskey, president and COO of Coldwell Banker Real Estate LLC. “Coldwell Banker recognizes the importance of outstanding training programs and has put a significant emphasis on Coldwell Banker University in order to provide our network with the best professional development in order to better serve today’s home buyers and sellers.”

Coldwell Banker Real Estate, a leader in residential and commercial real estate, appeared on the Training Top 125 list for the third year in a row, improving its ranking by more than 50 spots. In addition, this is the highest ranking Coldwell Banker Real Estate has achieved on the Training Top 125 to date.

This is Training magazine’s 12th annual competition that evaluates organizational learning programs and judges companies on a range of qualitative and quantitative factors, including the scope of development programs, and how closely such development efforts are linked to business goals and objectives.

In the past year, Coldwell Banker University has leveraged advanced technologies and focused its training on streaming video, social media collaboration and online communities of practice with its launch of the BlueView and Managing Broker Academy online learning portals.

A Buyer's Market: Know Your Foreclosures

Currently, foreclosed properties are on the rise. A complicated foreclosure market can provide ample opportunity for educated buyers, or leave room for devastating financial flops when a property is purchased without a thorough home inspection or sufficient knowledge.

“While some foreclosed homes can be a real steal, make sure to do your homework first,” says Connie Ray, President/Owner of Coldwell Banker Platinum Partners.

When looking at foreclosed properties, buyers should be aware of three different types of foreclosures, and the risks or benefits that come with each.

Real Estate Owned (REO). These homes have been foreclosed and are now owned by the bank. They have often stood vacant for some time and typically have maintenance problems due to neglect, so buyers should be extra cautious.

“REO properties are often sold ‘as is,’ leaving the buyer some wiggle room to request a price reduction based on needed maintenance. If you have the finances, time, and energy for a fixer-upper, REO properties can be a great investment,” Ray notes.

Short-sales. These are pre-foreclosed properties that are typically being sold at a lower price so that the seller doesn’t have to foreclose. Designed to create an ideal situation for all involved parties, short-sales can offer great deals for the seller, buyer and bank.

“If you are looking into a short-sale property, be sure you are pre-approved for a loan,” cautions Ray. “Also, make sure to have a solid home inspection done.”

Auctions. An auctioned home is one of the riskier types of foreclosed property purchases, as he buyer often has a limited window of time to view the property, and no opportunity for a proper home inspection.

“These ‘as-is’ properties can be a great deal for the seasoned real estate investor who knows what to look for. If you’re new to the field, purchasing a foreclosed home at an auction could be devastating financially when major unseen problems arise,” warns Ray.

3 Home-Renovation Projects for Impact and Investment

If you’re like many homeowners, the start of the new year finds you ready to finally tackle those home-improvement projects that have lingered on your wish list. But where do you begin?

First, prioritize those renovations that will have a maximum impact, both in terms of aesthetics and investment values. Also prioritize the projects that will enhance the livability and enjoyment of your home.

Next, decide whether or not it makes sense to handle these projects on your own or call in a professional for help. According to the experts at Sears Home Services, while taking on home remodeling yourself can seem daunting , enlisting the right help can make the process simple and seamless.

Here are three areas of the home to put at the top of your list this year:

The Bathroom
According to the National Association of REALTORS®, one of the best investments in a home is a bathroom renovation. Remodeling a bathroom that's more than 25 years old substantially increases the value of your home. While your bathroom may not need a complete makeover, updating cabinets, lighting, tiling or countertops can go a long way toward improving design and functionality. Or, consider a few quick fixes, such as a new towel bar, shower-curtain rod, robe hooks or showerhead.

The Kitchen
The kitchen is the heart of the home. And kitchen renovations don't need to be dramatic to be impactful—updates such as new countertops, cabinets, appliances or flooring can all dramatically improve the kitchen. These improvements can also help yield increased functionality and space throughout the kitchen. For a simple refresh, homeowners can give their kitchen a new look by replacing the hardware on cabinets, painting or updating fixtures.

The Floors
A great way to upgrade an area of your home and pull a room together is to install new floors. There are myriad options to choose from: carpeting, tile, laminate, porcelain or ceramic tile, vinyl or hardwood. Consult a home-improvement retailer or flooring expert to help make the best choice and to ensure proper installation.

Housing Market to Perk Up in 2012

There appears to be signs of life out there for the housing market.

The up-and-down ride for real estate the past few years was seen again in the fourth quarter of 2011, according to a survey of HouseHunt real estate agents across the country. There are pockets of good news offset by bad, with home values and prices basically bumping along the bottom of the grid on a perceived never-ending rocky road.

But most of the surveyed agents are optimistic moving forward, and the majority say that buyers are out there and activity is up, but pricing remains stagnant, and in some cases inched downward a little more throughout the year.

"I've been just as productive now as I was in the heyday of real estate except that the prices are 50 percent less," said Chris Cochran, a broker-owner from Riverside, Calif. "It's good news for buyers and bad news for sellers because sellers are losing equity by the minute and buyers are able to get a fairly-priced home and a really, really low interest rate."

Cochran said that the inventory in his region of Southern California is crowded with short sales, which fuels a buyer's market mentality. He added that prices were flat during 2010 and the first three quarters of 2011 before edging down late in the year. A breakdown of listings, he said, were 65 percent short sales, 10 percent REOs and the rest investor-owned "flips."

Looking forward, he thinks the housing inventory will increase and prices will again drop slightly before stabilizing in the middle of 2012 with a slight uptick in the final few months.

"The banks that have this so-called ‘shadow inventory' just need to put it on the market and get rid of it," Cochran said when asked how he would get real estate rolling again. "Once we get rid of all that inventory, supply and demand will take over and prices will go back up."

Decreased prices haven't been a big problem recently in the Naples area of Florida, said agent Dawn Amato, whose territory is Marco Island. She said that homes that were previously reduced by around $50,000 are now reduced "by a couple thousand, if that."

"We're not getting near as many reductions as we did in the past," Amato said. "It's been turning around steadily over the past year. The office I just left sold over $200 million in 2011. That's just one office. People feel the bottom of the market is here, so they're buying, and eager to do so."

Amato, who said she's "openly optimistic" about 2012 and beyond, said a tight inventory of available houses is the main problem in her area. That scenario leads to faster sales and even prompted some 'price wars' the final two months of 2011.

"If it's on the water with a view and it's priced right, it could be sold in days," Amato said. "Same scenario, but priced too high, maybe a few weeks."

Overall, 22 percent of HouseHunt agents said the average time for houses on the market was 60 days or less, down from 26 percent in the previous quarter. Regarding inventory, figures were identical in the third and fourth quarters, with 68 percent saying supply was good and 32 percent reporting a tight market. The only significant difference from the third quarter to the fourth was 42 percent saying they were getting at least 95 percent of a listing's asking price, compared to 51 percent previously.

On the Boise outskirts of Meridian, Idaho, agent Jeff Stewart said inventory and foreclosures have been declining for a number of quarters, with short sales diminishing toward the end of 2011. Prices are basically stable, he said, and the average time houses are staying on the market has decreased "from eight to nine months of inventory" to a little less than three months.

"The market is actually better of late," Stewart said. "We actually have a shortage of good properties. I think people are confident that we’ve hit bottom. In fact, in some of the areas I cover, prices are ticking up a bit, and I think it bodes well for a slow curve of stabilization."

An upward trend also was reported by agent Kevin Bergin, who works in the Long Beach Island, N.J., shore area. Bergin said levels in his office for the year were back to 2008 levels, with 60 percent of house visits turning into sales.

"I think buyers generally feel better about the economy, the low interest rates and prices being down 15-20 percent," he said. "People are still very discouraged about the government on both sides of the aisle, but they feel that now is a good time to buy a second home."

Of Bergin’s clients, 10 percent were first-time buyers and 25 percent were buying a primary residence. The assessed value vs. the asking price remains an issue, he said, but "most of the people looking now aren’t the same tire-kickers as there were two years ago when they were just asking for ridiculous prices."

Overall, prices in his area are down 7 percent from 2010, Bergin said, but he’s optimistic about 2012.

"If the current trends and the way people are thinking continue and interest rates stay low, which they probably will, it’s going to be a pretty good year," Bergin said.

Optimism also is what Wanda Hardee is clinging to as the new year begins. The agent who works in the Anderson, S.C., area said she had two "big closings" in December to ring out 2011 on a high note. But while she said that "things are picking up here," Hardee added that it’s hard to get sellers to price their homes correctly because of increased competition from foreclosed properties.

"Foreclosures are still pretty prevalent here and we’re starting to see more and more in the higher-priced end," Hardee said, adding that another obstacle to home sales has been the difficulty of some people being able to secure financing.

Still, she said she loves the business and only knows one way to tackle it.

"We’re going gung ho," Hardee said. "With real estate, just like anything else, you have to have a positive attitude. We’re going to make it work."

Additional results from HouseHunt’s fourth quarter survey include:
• Sixty-five percent reported that they were getting multiple offers, the same figure as the previous quarter.
• Twenty-nine percent said customers were first-time buyers, up slightly from 27 percent in the previous quarter.
• Fifty-one percent reported a negative price appreciation, compared to 58 percent in the third quarter and 64 percent in the second.

For more information, visit www.househunt.com.

How-To: Finance Your Renovations

If you recently purchased a fixer-upper, or are planning on making big renovations to your existing home, you may be wondering what your finance options are. Below, Connie Ray, President/Owner of Coldwell Banker Platinum Partners takes us through some of the best options for financing renovations.

According to the Millennial Housing Commission, few lenders are willing to administer home improvement loans. Most prefer to make home equity loans or unsecured consumer loans, as they are easier to manage. “Home improvement loans usually require inspections and irregular draws on the loan amount as work is completed, which requires regional or national lenders to find local partners to provide oversight,” explained Ray.

Financing repairs and improvements with home equity is okay for most homeowners, but it is difficult for many first-time buyers. “This is because they have lower-incomes, smaller savings, and have made lower down payments on their homes than first-time buyers a decade ago. So they have little equity to borrow against,” Ray explained. Unfortunately, it is often lower-cost older homes purchased by first-time buyers that need the most work.

One option is refinancing your existing mortgage and taking out cash.
“With a refinance, you pay off an old loan on your home and take out a new one, usually at a lower mortgage interest rate,” said Ray. “To refinance, you will generally need to have equity in your home, a good credit rating, and steady income. You can borrow a percentage of the equity to cover things like remodeling costs, debt consolidate, and even college tuition.”

Don’t forget, however, that when you refinance, you will incur all the closing costs that go along with getting a new mortgage. “Unless you're doing extensive renovations and can get a mortgage interest rate at least two points below your current loan rate, you may want to select another financing option to pay for your renovations,” Ray suggested.

Another refinancing option is getting a second mortgage. “This is a loan against the equity in your home,” Ray explained. Financial institutions will generally let you borrow up to 80 percent of the appraised value of your home, minus the balance on your original mortgage, of course. And similar to refinancing your existing mortgage, you may incur all the fees normally associated with a mortgage. These fees include closing costs, title insurance and processing fees.

“If you aren’t interested in either of those options, you can contact the government about home improvement programs,” noted Ray. “And you can always borrow from a finance agency, but I suggest making that your last resort. They generally charge high rates.”