Ray Carman – Auctioneer

At the end of every real estate transaction there is the closing company. Usually a title company or an attorney. They may be at the “end of the line,” however they play a vital role. Without them closings would not be as they are. They search the title, prepare the paperwork, and conduct the closing. And when doing your closing, it is VERY important to choose the right attorney/title company.

“Aren’t they all the same?” is a question I hear alot when it comes to closers. And the answer is “NO!, they are not!” They may perform the same work, however they can be different in several very important ways.

1. Efficiency. The work can be measured not just by how they conduct the closing at the closing table, but how efficient they were in getting the paperwork and people prepared prior to the closing.

2. Professionalism. A closing company has to deal with many different people along the way in the closing. Byers and Sellers. Loan Officers and Processors. Agents for the buyer/seller. In order to manage and balance all these people, you need a high level of professionalism as it is certain issues will arise during the process.

3. Flexibility. These problems that will arise will require that everyone be flexible. And the conductor of keeping people informed usually sits at the desk at the closing company. So a good amount of flexibility is required.

4. Effective. The closing company needs to be able to produce when the time is right. Being prepared to handle last minute changes and issues in order to bring the closing together.

5. Finishers. When the closing is completed, it is not over. Usually there are two closing companies involved (one for seller and one for the buyer), and Docs have to be exchanged. SO getting them to the proper place in the right time is key for money dispersal and finality of the closing.

So wen you choose your closer, be sure they are able to get the job done!

In any profession, this is not necessarily the easiest thing to do. When things are tough, sometimes it is easiest to do what will make YOU the most money. This is even more natural when things in your chosen profession are not going very well.

When I was a wee young fellow, my Grandfather and Father were very persistent in practicing and preaching “Honesty and Integrity.” They preached it so much that sometimes my ears hurt. But what really stuck was how they lived it. I sat in so many meetings growing up and listened to each of them, together and individually, turn down business because it was not in the clients best interest to hire them for the job.

Again, recently, this happened again as my father called and ran a scenario past me regarding a potential auction. We discussed the facts as they were presented to us, and it was evident that our services were not best suited for the client and in the long run would do him more harm (cost him more money) than good. Needless to say, the potential client was shocked to hear it when we did not recommend an auction for his case and were therefore not going to take the job. After explaining the our view points and the risk he was taking, he was still willing, however, we knew it was not for his best.

Now, could we have taken the job and made some money? Yes! But at what price? If we knew the property was not going to bring what the seller was wanting, and yet we went forward anyway, then not only is he then stuck with a property that has an “auction price” attached to it and leaves future buyers sending in low bids, but it also leaves a mark on the reputation of the ability of the salesman to do his job. It is good for neither side.

However, as the years have passed, and several of those clients who were “turned down opportunities”, have surfaced again and again, they now tell folks that what my Grandfather and Father did, in turning them down, was the biggest favor they had ever had. Some even went on to try other companies seeking fast paydays, and found that what they had heard from Gene Carman was true, and oh how they wished they had saved their money and listened. And what has that meant for our future business? Alot!!! Honesty and Integrity go a LONG way, even if it does not put money in your pocket today!

All that to say, even when times are hard, Doing the Right Thing ALWAYS pays off in the end!

Ray Carman

Every so often, you are asked to take a step back in life, by circumstances or other factors, and forced to ask yourself this question: :Why do I do what I do? What is it that motivates me to get up in the morning and do the ‘job/career’ or service that I presently do?”

Now this question has been a leader in helping people either stay motivated in their current position, OR, go out and find a new avenue in which they find a greater sense of self worth.

On occasion I am asked about my “position” or “job” and how I came to do it. My simple answer was to tell them who my Grandfather and Father are  (Gene Carman and Harold Gene Carman Jr), and that instantly answers the question for me. “Oh, so you were born into this job! You had a job before you knew what a job was!”  is the common response I receive. Of course we usually laugh a minute, but the facts are true. For most people born into our family, your career path was laid out many years in advance.

However, I can say with ALL my heart, I thoroughly enjoy my work and what it is I have been given to do! Prospecting, Marketing, and Selling Real Estate is the “what” of my job, but it is ASSISTING people in the pursuit of their dreams/goals that brings me my greatest satisfaction! It is what I was given to do by my Father, and I love every minute of it!

So to all you you have allowed me to enjoy my job by serving you, THANK YOU!

This past week I had the opportunity to work with some clients who had found the house they wanted to raise their family in. This house was in the area they wanted and had everything they were looking for. The only problem was, to them it seemed priced somewhat too high. So therefore they were left with a quandary as to what to do. They had already contracted to sell their house, and needed a place to go, and this one seemed to be it. So, now what?

They started off with a simple offer for much less than what the asking price was only to receive a counter which they still considered to be over market value. After a few nights of thinking and praying, they looked one more time, and sure enough, this is where they wanted to be. Now they were left with the issue of either countering again or pay more than they thought the house was worth.

This is where we discussed doing some research and finding out exactly what things in that neighborhood had been selling for. What was the most expensive house EVER sold in the subdivision, and what was the average. They sent me off to do some homework, and I called them with the results. The figures landed exactly where we figured, but now they had to decide what to do with the information.

Here was my suggestion. “Make your offer and attach the comps we founds and explain how we came to this price. At that point, you have done all you can do to purchase the house and give fair market value.” So we did.

In this case, their offer, even though considered a “lowball,” was accepted. The homework paid off.

This may not always be the case, but, if you offer reasonable evidence that you believe your offer is in line with today’s current market, you have a better chance at having your offer seriously considered vs just throwing out a “lowball” offer!

Have a great weekend, and always feel free to contact me or anyone here at Priority One Real Estate and Gene Carman Auctioneers with your real estate  and auction questions!

Ray Carman

If you are on the cusp of considering a home purchase, NOW is the time! Sumner County has the following available on the market:

1. 978 homes under $250,ooo

2. 333 homes between $250k and $350k

3. 443 homes available $350k and up!

What this translates into for you the buyer is great opportunity! Add the $8,000 first time home buy tax credit, low interest rates, and motivated sellers to the mix, and you find yourself, The Buyer, a the drivers seat!

To find out more on how you can cash in on this great opportunity in our local Real Estate Market, give me a cal, 615-824-0044!

Much like the song “The Gambler,” it is important to know when to act or not to act in Real Estate. We all know we are currently in what is known as a “Buyers Market.” Yet time and again, some people are trying to make a move when it is not the right time for them. As homeowners, sometimes we just get the “itch” to move or get a new home. With prices on other houses seemingly so great due to foreclosures and Short Sales, some folks think NOW is the time to move.  But the problem comes in the fact they want “sellers market” prices for their homes. So what is the key to avoiding this situation?

Knowing when to Hold Up!!!! Simple as that. Here are some things to think about.

1. What is the reason for trying to sell my home in a buyers market?

2. Do I HAVE to sell, or do I just have an “itch” to sell and make a change?

3.  Am I willing to take present market value for my home, or would I rather ride out the storm till I can make a profit on my investment?

4. Would I be better off to sell and buy or simply Re-fi with the low rates?

Using good common sense in todays market is HUGE if you want to make the right move. Unless you HAVE to sell or can afford to take a hit in your investment of your homes value, then it might be a good idea to ignore that restless itch and stay put till the market swings back in your favor. This might sound like strange advise from a Realtor, but if your best interest are in mind, it might be the best thing you could hear from a Real Estate professional.

For a free analysis of your situation here in Sumner and surrounding counties, and ideas on what makes the most sense for your current situation, give us a call at 824-0044!

All the great news about Real Estate in the news lately. February showed nationally that new home sales were up 4.7% from January! They tempered it well by saying January was a 40% drop off from January 2008, but improvement is Movement!

And that is what the market has shown over the course of the last 60 days, Movement! People have been scurrying about trying to take advantage of great low interest rates and the $8,000 tax credit for first time home buyers (those who have not owned a home in 3 years!)

This has come at a great time for our local market. The question is, are YOU taking advantage?

1. As Agents: are you marketing to your best advantage these great times for people to buy? Have you let everyone know that you are prepared to help them find a great home at a great price (this still is a buyers market) and have you let sellers know you have what it takes to get their house moved!

2. As Sellers: are you taking advantage of this surge in buyers by being aggressive in your pricing on your home in order to bring the buyers to your doors? In a market that has too many foreclosures to mention, it is imperative you make your house as attractive to buyers as possible, and bottom line, that means $$$’s!

3. As Buyers: with interest rates available in the mid 4-5%, a tax credit of $8,000, and houses at their lowest prices in years, what could you possibly be waiting for? Now is the perfect time to flex your buying power and find a home at a great price while taking advantage of all the market has to offer!

If you haven’t noticed these amazing opportunities and taken advantage, NOW IS THE TIME!

If you have any questions, feel free to contact me at RayCarman@gmail.com!

Until next time,
Ray Carman

I received an email recently from a friend who wanted to know if there were some good deals on just land for investment purposes around Sumner County. As a Realtor, it is easy to find a piece of investment land for a buyer, but, the question in this present market is, “When to invest?”

I am not a person who knows much about the Wall Street Market, but simply listening in anyone can learn the key rule. Know when to buy and know when to sell. It is eerily similar to that old song by Kenny Rogers , “The Gambler.”  You got to know when to hold them, and know when to fold them.

The key right now is to know your investment strategy and plan. Know exactly what your intentions are. Knowing this will be the key element in knowing when to strike gold in your Real Estate investment strategy.

NOW is definitely a time to buy. With foreclosures and over building, prices on homes are reducing, and will continue to do so for awhile. Land has been slower to follow suit, however, in weeks to come, there will be good opportunities to buy on the down side of pricing in the market. BUT, you need to keep a very sharp eye on the situation. Have someone you trust guide you into the perfect timing for your particular situation. Because, as in any investment, it will be extremely important to “make hay while there is hay to be made!”

If you are looking to move money into the security of Real Estate Investing, align yourself with a professional who can help you make your move at the right time.

Ray Carman

Today, the Wall Street markets stumbled again, landing down at around 6700 points on the Dow Jones. It has left people asking the question, “Where do I put my money?” The news of downward spirals in the market have some panic running wild. Others who are not in panic are buying!

I have watched the experts like Kramer give us advice as to where we can put our money in hopes for a better tomorrow. We have “experts” willing to tell us which stock we can place our bets on for a quick return. Others are bets on long term turnarounds.

Well, I am not going to put myself up their with these top advisers, however, I would like to point out a few things regarding investments. When considering where to put your money, what are some of the top things you consider when buying an investment?

1. What is the long term track record?

2. Is the commodity fairly common and easy to get, or is it rare and hard to find? Are they making more of it and how s that going to affect its value?

3. How long before I see my return?

Want to take a guess at a commodity I think has GREAT potential? You got it, Real Estate! Lets run through the list and see where Real Estate stand up under the scrutiny?

1. Real estate has been consistent in its rise in value through the sands of time. My Grandfather, Gene Carman, tells a story that I think speaks for itself. In 2004, he sold a farm in Sumner County at auction. The farm had been purchased by the family back in the 50’s for $8,500. It was a gorgeous farm on the lake. At that time, it was divided and sold for $1.5 million. A year and a half later, a portion of this farm was resold for over 2 million at auction.  As he likes to say, when you invest properly in Real Estate, it is like you are standing in piles of cash.

2. Real Estate is a commodity of which they are making no more. They can’t split it. They can’t reproduce it. And if you make a well informed purchase, your investment is sure to pay dividends.

3. Now here is the kicker. Over the past few years, people have fallen prey to the belief they can make HUGE returns in a short period on Real Estate. Therefore, they have come to expect too big of a return too fast. I have consistently watched people make really good money through investing in real estate. But, these investors also understood the need for patience . And consistently, through using good investment strategies and patience, these people were able to make a great return each year.

Now, I have full confidence you can find some great deals in the market, and with proper guidance, you can make great returns. If you do enter the waters, I would highly advise you seek proper, and expert counsel.  But I am not an expert in that arena. What I do know, is NOW is a great time to consider how you can put your money into Real Estate. With proper guidance, you can start making some great yearly returns in the worlds oldest investment commodity!

Ray Carman

Recently I have run into several people who are in the circumstance of overseeing an Estate.  A family member or loved one has passed away and left behind a house or farm to be taken care of. Being in the auction business, this is a common sight for us as we work with family members when settling an estate.

The question is, “Do I have to wait for the will to be probated before I sell the property?”

The answer is “No. You can have the property sold prior to the probation being finalized. The property and personal items can be sold and the money will be held in escrow until the estate has been finalized in the probate court.”

The next question that would automatically follow is, “What then is the benefit of selling before the probate case is finalized if we cannot have the money?”

The answer here is that you can help avoid vandalism, theft, and deterioration of the property. Many times these cases do take some time, even months or over a year to be finalized, and if a property sits empty for that period  it can be subject to any of the above mentioned issues. By selling the property prior to the finalization of the Probate case, you can help insure the property sells when it is in its best condition and avoid the potential of vandalism or theft problems.

So do you have to wait on probate? For the funds, Yes! To sell, NO! Of course we do recommend you speak to your legal council regrading your particular case.

Ray Carman – Auctioneer (615) 428-4920