Idyllwild Real Estate and Community News

The Idyllwild community never ceases to amaze me, I just came back from Idyllwild school where every Friday artist from the community teach art classes.  I woke up to an email asking for help to mix cement for the third graders to make stepping stones for the school garden. When I arrived and there were about 10 volunteers, parents, grandparents, community members and artists.  It is no wonder that our school ranks the highest in the district, we have a community that cares about our kids! When talking to prospective real estate buyers in Idyllwild I am always quick to point out what a great community we have in Idyllwild.  Once a year the school has a thank you luncheon for the parent volunteers and there are usually about 80 volunteers being recognized and we have just under 200 students in the school.  In other news, real estate is booming!  We have had 50 closings to date, about 20% higher than last years real estate sales at this time. Now is a great time to buy or sell real estate in Idyllwild.

11-11-2015  Well the weather is changing in Idyllwild, the leaves are falling and the nights are getting colder. Time for part time residents to turn off the water and drain the pipes to avoid freezing and potentially expensive repairs!

As always the Idyllwild community is just that, a community of people who get things done, the Idyllwild Halloween parade and carnival last week is another example of what a great place to live Idyllwild California is!  It is no surprise that people bring their kids up from other communities to participate.  Next will be the community tree lighting right after Thanksgiving.

Idyllwild has had a great year for home sales this year with 188 closings so far this year, I expect that 2016 will be another strong year if you are considering putting your Idyllwild home for sale now is the time to contact me and get the ball rolling. There are only 88 Idyllwild homes for sale as of right now, it is a great time to sell your home in Idyllwild!

Feb. 3, 2016

Home Equity

Idyllwild Homeowners’ Equity Resurfaces after ‘Underwater’ Stint   

Idyllwild Homeowners Dry Out following Equity Dunking

Many Idyllwild Homeowners Recover in Equity “Bailout”

 

Looked at from one perspective, there has been a “bailout” of enormous magnitude. Okay—maybe you have to expand the meaning of “bailout” just a bit, but if you do, many Idyllwild homeowners can be counted among the most prominent beneficiaries. We Idyllwild  real estate agents wouldn’t be complaining, either. As bailouts go, it’s the least controversial in a long time—probably because there are no politicians involved (so they aren’t quarreling about who’s responsible for what).  

The colloquial term “bailout” has become a household word of late. “Bailout” comes from a straightforward nautical solution for a sinking ship: grab a bucket and bail as fast as you can. The odds of success increase if you can also stop more water from pouring in. Wikipedia’s definition is “providing financial support to a company or country which faces serious financial difficulty.” 

It’s no exaggeration to say that after the last decade’s financial meltdown had driven residential real estate prices into the basement, many Idyllwild  homeowners faced, if not actual “financial difficulty,” at least the threat that it might be on the way. If the amount outstanding on their mortgage was greater than their home’s market value, they were said to be “upside down.” Since bailing and buckets don’t have much effect on a boat that’s upside down, perhaps that’s why another term gained prominence. 

They were “underwater.”

The coincidence of maritime imagery couldn’t be more apt. During the underwater days, if you were a Idyllwild  homeowner wanting to sell or refinance, more likely than not the outcome left you feeling swamped. The banks were inundated with foreclosed properties. The market was flooded with bank auctions. Property values sank…  

 But finally, rays of sunshine broke through the storm clouds. The floodwaters receded, etc. etc. etc., until today, when CoreLogic has just come up with some buoyant metrics about the current unambiguous state of the nationwide turnaround. A huge amount of equity has returned to the residential real estate market. The increase in homeowner equity in owner-occupied homes is now $6 trillion since mid-2011—$1.3 trillion in the last 12 months alone!

If that is a type of bailout, it’s one accomplished through the free market, powered by consumers reversing the previous distortion. CoreLogic’s figures include the good news that 92% of homeowners no longer bear the burden of being “underwater.” A relatively short while ago, among those who didn’t own their homes outright, that designation tainted nearly a quarter of the nation’s homeowners.

For several years now, the return of high and dry Idyllwild  homeowner equity has meant a more stable and blessedly predictable marketplace. Right now, some excellent property offerings—not to mention historically low mortgage interest rates—make this a propitious moment to call me to take a look at all that’s available! 

 

From the team at Forest Realty in Idyllwild California

Feb. 2, 2016

Rent or Buy

What’s More Important to Idyllwild Renters than Interest Rates?

3 Little-Used Initials Describe Idyllwild Home Renters’ Mindsets 

Fed’s WTP Inquiry Hints Likely Idyllwild Home Renter Leanings

 

You’d think that the single most influential factor governing a potential Idyllwild home buyer’s decision on whether to buy now or hold off would be the ongoing bottom line—that is, the amount of an anticipated monthly mortgage payment. 

Maybe not. 

The New York Federal Reserve argues otherwise. Not just a little bit otherwise; “dramatically” otherwise.

To cut to the chase (and that’s a good idea, for reasons that we’ll get to later), what is more likely to impact that decision—especially for those who are currently renters—is the size of the down payment. It follows that Idyllwild  home renters are more likely to be encouraged by any relaxation of down payment requirements than they are to be discouraged by a rise in mortgage interest rates (with the resulting increase in the monthly payment).

Upon reflection, the Fed’s finding isn’t so surprising. The slow-motion economic recovery and stall in wage growth has made it tougher than ever for the average Idyllwild  home renter to scrape together a traditional 20% down payment. That would be why the FHA began to loosen down payment requirements (they started doing that in late 2013). 

The details of the NY Fed’s study—Survey of Consumer Expectations—involved asking respondents how they would react to different home-buying scenarios. They measured the resulting “WTP”: Willingness to Pay, and found out…well, they found out a number of complicated things that we can leave for the statisticians to figure out—but one that stands out is that for renters (and we could easily imagine many of our own Idyllwild  home renters are among them), the amount of a proposed down payment is much more important than the interest rate. Everyone who has ever lived with an income that’s about equal to their expenditures understands why: rent money spent gets you nowhere, mortgage payments are different. They represent, in part, retained value. 

The reason that earlier we immediately cut to the chase was because the language in the study itself is part English, part FedSpeak (a language created by Fed spokespersons for the apparent purpose of foiling attempts to decipher meaning). For example:

“…since there is generally no exogenous variation in these variables that is independent of confounding factors (such as economic conditions or household characteristics), it is difficult to cleanly estimate these sensitivities empirically.”       

Thankfully, that study was accompanied by a summary. The upshot for us is that the current hard-to-predict mortgage interest rate ups and downs may not be as important a WTP influence (at least where the Idyllwild  home renter population is concerned) as we might assume. What are always keys for swaying potential buyers are objective pricing, proper presentation, and energetic marketing. I can help with all of those—so call me!  

 

From the team at Forest Realty in Idyllwild California

Feb. 1, 2016

Top Idyllwild Listing Agent

 

You are the Ultimate Idyllwild Real Estate Agent Recruiter

Choosing a Idyllwild Real Estate Agent (You’re the Personnel Dept.) 

Shortcut to Selecting Your Best Idyllwild Real Estate Agent 

 

A sizeable portion of the recruiting business has gone online, and a lot of small and medium-sized businesses are using them. We hear a lot of ads for them—promising job hunters an efficient way to distribute their resumes; promising business managers an efficient way to attract new talent.

Busy Idyllwild business managers are assured they’ll snag quality candidates to fill their open positions by simply filling out an online form describing their job vacancies. Some even promise to deliver the resumes of dozens of candidates almost overnight (if not actually overnight!) using their online job-hunting database systems. What is left unsaid is what personnel professionals know to be the most important next step in the recruiting process: the interview.

If you are wondering what this has to do with you and Idyllwild real estate, the answer is just about everything! If you are selling your home or condo (and are among the nearly 90% of people who team up with a real estate agent to help get it done), your choice of agents makes you a personnel manager. You are the CEO of your own home selling enterprise; you’re the boss. And all experienced business owners will verify that just collecting resumes and leafing through them is not good enough. Not when you’re looking for top talent. 

It takes some winnowing; some qualifying; the willingness to make judgement calls. There are books written about effective approaches to interviewing, but you don’t have to have a business or psychology degree to select a Idyllwild real estate agent you can have confidence in. And you don’t have to devote days to the process, either. There are a couple of pointers about the interview, and a shortcut to the whole process:

First, once you have picked out the names of a fewIdyllwild real estate agents whose qualifications seem to fit the bill, give them a call. Be clear and honest about where you are in the process, and let them know you are pre-interviewing. You can do this over the phone. Let them present their qualifications briefly—and then get down to business. 

  1. 1 Ask them for the names and phone numbers of two former clients and two current clients.
  2. 2 Then call the clients (be sure to thank them for their time at the end of the calls).

You’ll find out as much (probably more) this way than you would through hours-long conversations with the real estate agents themselves. By the time you have their clients’ feedback on how well they provide marketing materials, handle buyers, and stay in touch, you’ll be a local expert on Idyllwild’s real estate agents. 

Once you determine which ones have the ‘A’ ratings, it will be time to sit down and have a couple of in-depth interviews—the kind that tell you how well you mesh on the extremely important personal level. By then, you’ll have the satisfaction of having done a most professional job of selecting your agent who (I hope) is me! 

 

From the team at Forest Realty in Idyllwild California!  

Feb. 1, 2016

Idyllwild Listing Agent

 

You are the Ultimate Idyllwild Real Estate Agent Recruiter

Choosing a Idyllwild Real Estate Agent (You’re the Personnel Dept.) 

Shortcut to Selecting Your Best Idyllwild Real Estate Agent 

 

A sizeable portion of the recruiting business has gone online, and a lot of small and medium-sized businesses are using them. We hear a lot of ads for them—promising job hunters an efficient way to distribute their resumes; promising business managers an efficient way to attract new talent.

Busy Idyllwild business managers are assured they’ll snag quality candidates to fill their open positions by simply filling out an online form describing their job vacancies. Some even promise to deliver the resumes of dozens of candidates almost overnight (if not actually overnight!) using their online job-hunting database systems. What is left unsaid is what personnel professionals know to be the most important next step in the recruiting process: the interview.

If you are wondering what this has to do with you and Idyllwild real estate, the answer is just about everything! If you are selling your home or condo (and are among the nearly 90% of people who team up with a real estate agent to help get it done), your choice of agents makes you a personnel manager. You are the CEO of your own home selling enterprise; you’re the boss. And all experienced business owners will verify that just collecting resumes and leafing through them is not good enough. Not when you’re looking for top talent. 

It takes some winnowing; some qualifying; the willingness to make judgement calls. There are books written about effective approaches to interviewing, but you don’t have to have a business or psychology degree to select a Idyllwild real estate agent you can have confidence in. And you don’t have to devote days to the process, either. There are a couple of pointers about the interview, and a shortcut to the whole process:

First, once you have picked out the names of a fewIdyllwild real estate agents whose qualifications seem to fit the bill, give them a call. Be clear and honest about where you are in the process, and let them know you are pre-interviewing. You can do this over the phone. Let them present their qualifications briefly—and then get down to business. 

  1. 1 Ask them for the names and phone numbers of two former clients and two current clients.
  2. 2 Then call the clients (be sure to thank them for their time at the end of the calls).

You’ll find out as much (probably more) this way than you would through hours-long conversations with the real estate agents themselves. By the time you have their clients’ feedback on how well they provide marketing materials, handle buyers, and stay in touch, you’ll be a local expert on Idyllwild’s real estate agents. 

Once you determine which ones have the ‘A’ ratings, it will be time to sit down and have a couple of in-depth interviews—the kind that tell you how well you mesh on the extremely important personal level. By then, you’ll have the satisfaction of having done a most professional job of selecting your agent who (I hope) is me! 

 

From the team at Forest Realty in Idyllwild California!  

Jan. 29, 2016

Good Time to Sell?

Idyllwild Homeowners Study Whether Now is a Good Time to Sell

The Question: Is Now a Good Time to Sell a Idyllwild Home?

Idyllwild Homeowners Look for Auspicious Local Market Signals

 

Is now a good time to sell?” 

A Idyllwild California home is never put up for sale on a whim. Although outside events can conspire to control the timing of that kind of major real estate venture, in most cases, the sale or purchase of a home happens on a timetable the Idyllwild buyer or seller thoughtfully works out. That can be when a move will least interfere with everything else that’s going on (school and career schedules are often the ruling considerations). Or, it can be when surrounding conditions seem particularly auspicious. 

The answer to the “is now a good time to sell” question looked to be a pretty firm ‘yes’ last fall for a number of reasons. The rebound in Idyllwild home values had been underway for long enough that in many instances, previous high water marks had been equaled. Many who would have expected low appraisals as few years back could now anticipate friendlier results. The volume of sales seemed mainly limited by the number of homes being offered; and if fewer competing properties were available, all the better. In the background, good economic news began to arrive more frequently…

Also, there was one well-publicized additional factor that made it look as if the “good time to sell” might not last much longer. It was widely anticipated that action by the Federal Reserve Board to finally raise the Fed funds rate would rain on the Idyllwild real estate parade, since that would certainly force banks to raise home loan interest rates. 

Nationwide, those reasons had the expected result. Per Reuters in last Friday’s New York Times, apparently it had been a very good time to sell. “HOME RESALES RALLIED IN DECEMBER, AND PRICES ROSE AS WELL” was the headline describing last month’s activity. Unseasonably warm weather had helped, but “buyers rushing into the market in anticipation of higher mortgage rates” may have been more of a factor.

Sure enough, the Fed did raise the benchmark Fed funds rate, causing mortgage interest rates to…er…

That’s where the analyses, expectations, predictions, forecasts and conjecture fell to pieces. The banks were supposed to have to raise home loan rates to match, yet by last Friday they had shed another quarter of a percent. As the Times reported, “…rates on 30-year mortgages have dropped below 4%, and many mortgage experts expect them to stay below 4.25% this year.”  

As the Idyllwild real estate market prepares for the upcoming spring selling season, that unexpected boost seems to herald a lengthy extension of the extremely favorable borrowing environment. When Idyllwild homeowners ask themselves “is now a good time to sell?”—the answer seems to have gone from a “yes” to “yes, indeed!” 

If your response to the buying or selling question is tipping toward a ‘yes,’ now is the time to explore how your plans mesh with today’s Idyllwild market. A good start: give me a call!

 

From the team at Forest Realty in Idyllwild California!

Jan. 28, 2016

First time buyers in Idyllwild CA

 

Buying Your First Idyllwild Home: More Doable Than You Think!

Two Questions for Idyllwild First Home Buyers   

Idyllwild First Home Buyers Need Answer Just Two Questions 

 

For Idyllwild Ca first home buyers who are of a certain age (for the moment let’s call that 40+ or so), the prospect of making such a prodigious commitment should be less intimidating than for the younger set. 

You have been around for long enough to have seen the ups and downs of the economic cycles; most likely have had a number of different jobs with good and bad employers; may even have entered into the entrepreneurial arena yourself. You’ve also observed friends, relatives and colleagues who as they acquired their Idyllwild first homes, and have seen how they have fared as they enjoyed the benefits of homeownership and weathered the accompanying responsibilities. You know from observation that it doesn’t take spectacular luck or extraordinary business acumen to buy and own your first home—you’ve watched lots of regular people doing it all the time.

If you are part of the younger set, you may intuit the same thing—but haven’t yet seen it play out with your own eyes. Homeownership involves some dauntingly high numbers, after all. Add to that the current general sense of unpredictability about the world economy (who knows what’s going on in China?); the domestic business environment, jobs outlook, political scene (It’s an election year! An election year!)—maybe this is just the wrong time to make long term commitments…

If you belong to the more youthful group, there are some reassuring truths to make the first home buying plunge less worrisome. For one thing, if you’ve sometime sensed that the future is always unpredictable, you got that one right. When the economy is bright and looking brighter, those who have lived through the economic cycles are apt to be more skeptical than ever. It’s actually at the bottom of the economic cycle when the best buys are most likely to appear (though it’s never completely clear when that is!).

One thing that is completely reliable is the amount of money that Idyllwild mortgage lenders are contracting to charge you every month (that is, if you play it safe and stick to a non-adjustable home loan). And right now, interest rates are still almost unbelievably low. Historically speaking, this is an unusually advantageous time to be joining the ranks of Idyllwild first time home buyers. In an unpredictable world, that’s an attractive situation.

What every Idyllwild first home buyers should ask themselves before proceeding any further is how long they plan to live in their next home, and how much can they afford to pay each month. If the answer to the first question is one or two years (or “I don’t know”)—it’s almost certainly a better idea to keep renting for a while. Otherwise, take a look at your monthly budget (if you don’t have one, get out a pencil and paper and commit to one)—and come up with the number. After that’s done, you’re already on your way to getting serious about owning your first home. Then give me a call to see what the current town market has to offer. Before long, you might be walking through the doorway of your first Idyllwild home! 

 

From the team at Forest Realty in Idyllwild California

Jan. 26, 2016

Idyllwild CA Interest Rates

Another Head-Spinner for Idyllwild Mortgage Interest Rates 

Idyllwild Mortgage Interest Rates Fall Amid Economic Turmoil

World Financial Distress Lowers Idyllwild Mortgage Interest Rates

 

By the end of last week, with world financial markets quavering and Wall Street chalking up the worst start for any year ever, you’d think that Idyllwild’s real estate outlook would be as worrisome as the rest of the economy’s. 

Not necessarily. 

For sure, there was enough to worry about. If world trade levels continue to unravel, it’s hard to see how the U.S. economy doesn’t head south—and that’s usually bad news for anyone trying to sell anything. For  Idyllwild home owners planning to add their properties to this spring’s listings, seeing the stock market inaugurate the year with a full-blown correction would normally be unnerving. 

Yet there were two outside factors that worked to counteract such a reaction—and at least one of them had not been widely anticipated. 

The first factor is the textbook connection between financial assets (Wall Street’s stock in trade) and real goods ( Idyllwild real estate is, if anything, the definition of ‘real’). It’s an inverse correlation. Not always, but often, the more insecure “securities” become, the more money tilts toward real assets: precious metals, commodities, real estate, agricultural land and oil. If for no other reason than the unanimous hand-wringing of the economic commentators, that should make holdings in property a more desirable place to park assets. At least in theory.

The second factor was the widely unforeseen one. By last Friday, Mortgage News Daily’s Matthew Graham was writing about how investors were fleeing riskier assets “seeking safer haven” in the bonds that back mortgages. The result was one that affected Idyllwild mortgage interest rates—one of the key drivers of affordability for  Idyllwild home buyers. “Mortgage rates surged lower,” Graham noted, “at the quickest pace of the year.”

Ever since the Federal Reserve’s decision to tiptoe into the first interest rate increase in many years, nearly everyone had predicted a slow rise in  Idyllwild mortgage interest rates—one likely to continue throughout the rest of 2016. Instead, by the end of the week, commentators were reporting mortgage rates approaching 7-month lows! It really was a head-spinner: 7 months ago was long before the Fed raised that supposedly crucial Fed Funds rate. And now the commentators were casting doubt on when the next rate hike would take place…if at all…

 

Lest we fall into the trap of thinking we can predict what lies ahead, one distant mortgage branch manager, after being quoted as saying that the year has been “great for rates” so far, admitted “Things could change quickly in markets like this.” That’s for certain—but for the moment,  Idyllwild mortgage interest rates are one strong factor that makes buying or selling a more doable prospect than would have seemed to be the case just a month ago— as well as a great reason to stop putting off that call to my office!  From the Team at Forest Realty in Idyllwild Ca!

Jan. 24, 2016

New Listings vs old

New Idyllwild Listings Aren’t the Only Game in Town 

New Idyllwild Listings Worth Checking Out  

Something Worth Keeping in Mind: Listings Don’t Wilt! 

 

It’s probably inevitable (and may have something to do with the way our brains are wired) that when most people start looking for a home in the area, they’re automatically drawn to the new Idyllwild listings first. Let’s face it: all things being equal, who wouldn’t choose a new car over a used one? That’s not to say experience hasn’t taught us that ‘new’ isn’t always the best choice. Last year, NBC’s ‘new’ live version of “The Sound of Music” is one example where the new model couldn’t hold a candle to the original (even if we had seen that one a half dozen times). 

Yet the impulse to look for the latest, freshest product is as automatic as going to the fresh vegetables instead of the ‘day old’ bin at the supermarket. When you’re in the hunt for an area home it’s just as likely that you will opt to check out the new Idyllwild  listings before those that have been on the market for weeks or months.

Now, there is really no reason why that isn’t a perfectly reasonable way to proceed. There is always the possibility, for instance, that a new Idyllwild  listing has just come on the market, that it’s the most fantastically great property out there, and that by jumping on it immediately, you will steal a march on the other listing watchers—get the first showing, make the first offer, and wind up in the house of your dreams (it happens!).

If you have an energetic Idyllwild  broker (hint: like yours truly), you may be contacted as soon as a new listing in Idyllwild  appears that meets your requirements. Or you may have set up an internet contact alert to produce a similar heads-up automatically. These are all good ideas, as any worm-gorged early bird will agree.

But the point is, the brand new listings are not the only game in town. Even if you have already combed through the Idyllwild  listings so often that some of them have details you can recite from memory (oh, that’s the one with the “charming entry hall cathedral ceiling”), it’s worthwhile to occasionally revisit all the listings that fit your basic criteria. Among other reasons, Idyllwild  listings that have been on the market for a while can undergo asking price reductions. Some which you haven’t paid attention to in the past can suddenly appear when they drop into your search price range. Others which had been listed as under contract may reappear when a buyer was unable to close the deal…In short, although it’s perfectly valid to review the real estate listings with the new Idyllwild  listings at the head of the pack, thinking of them as intrinsically superior isn’t necessarily the case. Listings aren’t lettuce. In fact, there should be a bumper sticker:

Listings don’t wilt.

An alert and energetic real estate broker is an immensely valuable partner to have when you are on the prowl for a house of your dreams. So…call me!

 

PS, Forest Realty has NEVER had a listing expire, we have sold them all.  Not once, think about it….  From the team at Forest Realty in Idyllwild California

Jan. 23, 2016

Home Loan Budgeting

Idyllwild Home Loan Budgeting Doesn’t Tell the Entire Story  

Anticipating Maintenance Add-Ons to Home Loan Budgeting

Home Loan Budgeting Sets Parameters for Idyllwild House Hunters 

 

When you first go shopping for a Idyllwild home, loan budgeting—figuring out how much a comfortable monthly mortgage payment would be—pretty much dictates the price range you will be considering. Some listings do the lion’s share of the home loan budgeting work for you through a ‘payment options’ box that provides a thumbnail mortgage payment calculation. You enter a percentage for the down payment, amount, and the type of loan—and at the speed of light it calculates an estimate for the monthly payment. Those that also include the latest property tax bill and an insurance estimate come up with a pretty definite picture of how affordable a given property will be.

An associated cost that home loan budgeting alone doesn’t address is the additional operating cost every homeowner runs into—the maintenance figure. Since those costs are dependent on the type and condition of the property, most experts just advise future homeowners to anticipate 1% of the purchase price per year…a transparently made up number. There are a couple of approaches that can improve on it.

The first way is to invest in a home warranty, which has a set cost. Home warranties are the forms of insurance that cover the repair or replacement of covered items. This can be a relatively economical way new Idyllwild homeowners can buy some budgetary peace of mind while familiarizing themselves with the ins and outs of their new Idyllwild home. But it’s also an occasion where it’s particularly important to read the fine print—the only way to be clear on what is covered, what is not, and what the deductibles are. It’s also important to get an idea of who the subcontractors will be. 

The other way to get a bead on likely future maintenance outlays is to anticipate likely major replacement costs. Wood shake roofs, for instance, should last about 30 years, while fiber cement shingles last five years less (and rough weather conditions can lop years off those life expectancies). Wood floors last a century, as can marble and slate—while carpet usually needs to be replaced every eight to 10 years.

When it comes to included appliances, most Idyllwild homeowners will agree that today’s models just don’t seem to last as long as they used to. It may be because electronics have added improved functionality…or it may be a result of flimsier manufacturing. At any rate, the National Association of Homebuilders’ research tells us that dryers (both gas and electric) have average life expectancies of 13 years—as do cooktops, electric ranges, and fridges. Washing machines last an average of 10 years; while microwave ovens last 9 years—as do dishwashers and compact refrigerators. Freezers last 11 years, garbage disposals, 12…but (uh-oh!) trash compactors average only 6. If the previous owner can furnish original warranties or purchase slips, it should be able to come up with a ballpark idea of when to expect replacement outlays. 

Home loan budgeting will deliver the all-important mortgage payment amount, but it’s prudent to leave ample some budget for the other inevitable expenses. But first things first—and calling me is a good way to start. Finding a Idyllwild home to fit all your requirements (including the budgetary ones) is, after all, job One!  

 

From the team at Forest Realty in Idyllwild California!

Jan. 22, 2016

Real Estate Fundamentals

Mystery of The 184 Things Your Idyllwild Real Estate Agent Does 

Uncovering the Origins of 184 Things a Real Estate Agent Does

10 Years Later: Still 184 Things a Idyllwild Real Estate Agent Does

 

As its name clearly implies, The 184 Things a Real Estate Agent Does for You is an exhaustive list of the actions a Idyllwild real estate agent is called upon to perform on behalf of a client. It is an authentic real estate Golden Oldie. 

Whenever someone wonders aloud what it is that Idyllwild real estate agents do to earn their commissions, many of we agents have the option of digging around in a drawer for a wrinkled printout of The 184 Things. If there were a Real Estate Hall of Fame, The 184 Things would be sure to have its own spotlighted exhibit…or even an interactive video display (so the kids could push colored buttons that would seem to make the list interactive). 

Since the list is 184 items long, it’s a good bet that, given the option, very few of our clients would have read the whole thing (if they had, they’d probably be so exhausted they might well reconsider selling their house at all). 

Actually, the truth is real estate agents don’t perform all 184 in the course of any single home buying or selling transaction. Some items refer to specific kinds of deals; some others aren’t always necessary. But they’re all authentic, and for most Idyllwild transactions, we really do execute on a lot more than half of them. To give you the flavor, they are actions like “Verify legal description,” “Confirm lot size via owner’s copy of certified survey, if available,” “Prepare detailed list of property’s ‘inclusions & conveyances’…,” and so on. 

Like so many other epochal historical events, the birth of The 184 Things seems shrouded in mystery. You might think that the reason is because it happened so long ago—but 2006 isn’t really that long ago. Perhaps the mists of time haven’t actually had a chance to fully enshroud the event…so maybe simple confusion is responsible. Most historical citations credit its origin to a 2006 House of Representatives Financial Services Sub-Committee hearing, during which the president-elect of the NAR presented the Things at the conclusion of her testimony. This could have happened after some House member made the innocent mistake of asking what real estate agents do to earn their commissions…but the actual exchange that provoked the list has been lost for all time.

At any rate, despite the House hearing being often credited as the point of origin for The 184 Things, there are problems with that story. The House archives’ transcript of the hearing shows a written Attachment that has 180 Things—not 184! But that’s not the only mystery, because the Attachment has a footnote, which seems to credit the Orlando Regional Realtor Association. It’s only after you consult the ORRA’s web site that you come upon what may be the original list, with all 184. If they ever do build a Real Estate Hall of Fame, it could be a reason to put it in Florida…

I don’t need to do each one of The 184 Things every time I set about helping a client buy or sell their Idyllwild home—but it’s certain I do an awful lot of them. My own list is simply one with all of the things that need to be done—and that turns out to be different for every client and every property. The first item is always the same, though—and it’s all yours: call me

 

From the team at Forest Realty in Idyllwild California!