Message Board

Property value concerns.

Rosemarie Webb — Sat, 10 May 2008 01:23:11 GMT

I own a single-family home in upstate NY. A developer from downstate has purchased property directly across from my home. The property is an old resort. He intends to turn it into a multiple dwelling complex. I fear it will house low-income folks; the developer has a reputation as being a slum lord. Our community is not zoned. I purchased my home and moved upstate from NYC six months after 9/11. I have renovated the lower portion of the house, but have yet to touch the second story. My question - should I immediately move to sell. If I decide to attempt to get out, should I put any more money into the house, or sell as is? This situation has the potential to ruin me financially. What would be the prudent thing to do?

Thank you!

Ms. Webb

Cumberland, Maryland

Debbie Grimm, Manager — Fri, 09 May 2008 15:29:22 GMT

Hi,

Although I didn't get to see the piece on tv today, I am so happy that you mentioned us in your article. We live in a lovely spot that is convenient to so much. We can plan so many day trips to Metropolitan areas, great recreational areas including a huge 4 season resort Lake only 40 minutes away, and we are a destination point for a bicycle path that runs from Washington DC to Pittsburgh, Pa and I have only lightly touched on what we have to offer.

We have something for everyone!!

If you have the opportunity to travel---but not too far (you know, that gas thing....) come and see us---if you have any questions---email me at deborah.grimm@longandfoster.com

Nextville

Maureen Roberts — Sat, 03 May 2008 01:36:35 GMT

Barbara,

I am a Realtor in Marco Island, Florida and usually enjoy watching your segments on the Today Show and other programs but last Thursday, May 1 I was totally outraged and disappointed with you. You were promoting your new book Nextville and in doing so managed to totally trash my present state of Florida for retirement saying it is "old". I beg to differ with you. Perhaps you were never in beautiful Marco Island or Naples where there is unsurpassed beauty and numerous things to do whether you young or old. If you want to talk about other interesting areas in your book that is fine but please do not do so at the expense of where I choose to live and make a living. Shame on you! The real estate market is difficult enough right now without such comments.

Maureen Roberts PA, CRS,GRI,CLHMS
Prudential Florida WCI Realty
239-571-3189
maureenroberts.com

Single white artist in Yankee Stadium ...

Julie Zimmer — Wed, 30 Apr 2008 00:58:43 GMT

Dear Barbara,
I am a 29 year old single, white, female, artist. I am looking to buy an apartment in or around Manhattan. I found a 1 bedroom apartment close to Yankee Stadium (161 St. & Grand Concourse), and I planned to submit a bid for $145,000 this week. However, after reading many blogs/ articles about the area I'm reconsidering whether or not this is a wise investment. I have spent a lot of time in the neighborhood during the day and at night, and I have not seen another white female my age. I have lived in Spanish Harlem and the south side of Chicago, so I am used to being a minority but the articles online do not paint a pretty picture of the South Bronx. Do you think this neighborhood is going to turn around? Do you think it is a wise investment or is it too early for a single white girl to move into this neighborhood? Your help would be GREATLY appreciated!
Julie

Real Estate is a "Local Market" yeah BARB!

Linda Zdora — Sun, 27 Apr 2008 19:17:57 GMT

Hi All and Miss Barbara,

I decided this morning to find this web page to thank Barbara for being a breath of fresh air about conditions in the Real Estate Market. Every time I see her on the Today show or anywhere else she is always the voice of reason about the market.

My husband Bob and I are Executive Real Estate Brokers for Century 21 LeMac Realty in the booming town of Mountain Home, Arkansas. I know you are saying "where?" but this place is rocking! We are attracting the boomer generation to our beautiful place in the Ozarks, with our lakes, rivers, mountains, pastures and forests. The people are friendly and the homes affordable and property taxes are low!!!

We had a slump last fall and winter but come this spring we have had very few days off and our "market is alive and well". Why? Because as Barbara says "Real Estate Markets are LOCAL" and she is sooooooo correct!

It is unfortunate that the media in general have beat this doom and gloom drum to death. Yes, there are big problem area's in the US but they are not everywhere.

Our only problem is when prospective buyers arrive in our area wanting to relocate from one of these problem areas, they can't understand why a seller won't accept a low ball offer. They usually say, "Well we know the market is terrible...why won't they take 20-30-50,000.00 less than they are asking?" We really can't blame them its what they hear day in and day out.

So I guess my comment and suggestion to everyone trying to relocate to an area they are not familiar with is to work with a local REALTOR. Ask them what are the market conditions in that area, are homes selling fast/slow and how close to the asking price. They should be able to advise you on how to bring a successful offer on the property you want to purchase. Bringing a low offer in a fast moving local market usually just makes the seller mad and your offer just gets rejected. More times than not you will loose the home or property you wanted. So, ASK Questions.

Thanks so much Miss Barbara for all the good advise and words of wisdom, you are appreciated more than you know. Keep up the good work...

Linda Zdora

Real Estate Agents

miwright — Tue, 01 Apr 2008 22:07:55 GMT

Why is nothing broadcast about the role of agents in the real estate debacle??? Aren't they the ones who come up with creative financing? Who but a real estate agent would recommend paying $10,000 more for a home to only have the owner use that money to buy down points on a loan. What about regulation for Realtors? Having a real estate company that also provides loans, and escrow services seems like a monopoly at most and a conflict of interest in the least. Why should Realtors get the same % for a home worth 600,000 or 60,000? I feel there is plenty of fraud and greed in the community of Realtors. Yet, in the news, hardly a disparaging remark is made about the role played by Realtors in creating the need for sub prime loans and encouraging their clients to pursue them.

use whaT YOU.VE GOT

pat rouse — Tue, 01 Apr 2008 18:18:20 GMT

i'M IN THE MIDDLE OF YOUR BOOK( USE WHAT YOUV.E GOT)..I bought in the $ store..I also knew you name because I'm in Real Estaste and was in the Mortgage business. for over 20 years. I.m 71 years old and retired for about 6 years. I love your book its so simple and yet so true and easy to put into effect..Just want to say thank you

Interest Rates

Susan — Tue, 19 Feb 2008 17:31:16 GMT

I have been watching you on the Today Show for months and have heard all the talk about ARM's, refinancing, etc. My husband has had his income reduced due to the economy and I am a stay at home mom. We are currently in our 3rd year of a 5-yr ARM (4.25%) - 2nd @ 6.5% and a 3rd @ 7.5% With a few credit dings, high debt-to-income ratio and the decrease of my husbands salary we are unable to qualify for a fixed rate loan. However all three loans are with Wells Fargo and if we refinanced I calculated that we could potentially save over $1,000 per month combining them. No one is willing to work with us especially our current lender (WF). We currently can not make the 3^rd payment of $1,100 which if they worked with us they could get their money but now we may be forced to become delinquent on the 3^rd ? Any advise?

Susan

Purchasing a foreclosure

Maureen Supka — Fri, 25 Jan 2008 05:49:17 GMT

Hi Barbara--

I am about ready to make a second offer on a home in Centerville, MA (Cape Cod area). The house has been on the market for over one year and started at $269,900. I made an offer last summer and went up to $200,000 and was turned down. The house has come down in price and the asking price is now $210,000. My two questions are: With the economy the way it is and this house being in rough condition, is it reasonable to offer less than my original offer? The second question is, do I stand a better chance of the bank accepting my offer if I use the bank that the loan was forclosed on? My intent is to renovate and then rent the house with the option to buy. Any opinion you can offer is greatly appreciated!! Thank You--Maureen Supka

Top 5% Producers - List with them

Brigitte Powell — Tue, 22 Jan 2008 13:45:49 GMT

I am a Real Estate Agent and was licensed first in 1979, worked in a difficult market until 1989. Left the Real Estate Industry and just recently came back in 2006. Barbara, your comment that Sellers should only interview the top 5% producers and pick from them. So much for those of us that are relatively new and have not and may never hit the top 5%. Never mind that we are hardworking and that our buyers or sellers are very satisfied with us. Many of us in our area (Charlottesville, Virginia) who are relatively new to the Real Estate Industry (1-3 years) were very offended by your statement.

Friends Buying Together

Barbara Corcoran — Fri, 05 Oct 2007 20:01:37 GMT

Are you buying a house with a friend? If so we'd love to feature you in an upcoming segment for The Today Show. Email me at bc@barbaracorcoran.com or leave you information here if you are interested.

Decatur's "Bad Schools"

Stephen Greenleaf — Tue, 25 Sep 2007 15:37:05 GMT

Barbara-
I would like to know where you obtained your information to draw your conclusions about Decatur Schools. My father took a job in Huntsville, AL in 1989 and moved the family to Decatur specifically for the school system. If the intent of your comments on the September 20th interview with Matt was to convey to the viewers that Decatur is a city with affordable housing and "bad schools" you did a good job. The problem is that you were and are wrong.

Comments about Decatur City Schools

Ada Garland — Fri, 21 Sep 2007 18:28:29 GMT

My name is Ada Garland and I am a teacher from Decatur Alabama. I was so upset yesterday afternoon after I saw the clip from the Today Show that my principal showed me. I could not believe the comments about our school district being "bad." Decatur City Schools cosistently has students who receive scholarships from leading universities, score well on national tests, and receive National Merit status. We have had teachers who were highly qualified long before there was a No Child Left Behind law. I know because I have worked with them for 29 years. We have International Baccaluarate (IB) schools. Decatur City Schools has for the past 13 years received the "What Parents Want" award from SchoolMatch. I do not know where the research for the story came from or who was responsible for gathering the untrue information. It is important to us as educators that the record be set straight. Please come down to Decatur, see our schools, meet the people in our community who back our schools, and taste our Southern hospitality! Then go back to the Today Show and set the record straight!

Responsible Reporting

Suzanne Horsley — Fri, 21 Sep 2007 18:10:14 GMT

Ms. Corcoran,

I would like to address the concerns I have regarding your recent segment that aired on September 20, 2007 (What you get from your real estate dollars). I was elated to find out that a well-known real estate adviser such as yourself was going to feature Decatur, Alabama as a great place to get your real estate dollars worth. As a dedicated parent with the knowledge and education to relocate to various areas, I agree that you get quite a bit for your real estate money in Decatur. What was the deciding factor for me was the Decatur City School System. I take my childrens education very seriously and currently have an 11^th grade son that is one of the top in his class in the International Baccalaureate program. To put it very bluntly, the derogatory statement you made about the Decatur City School System was unfounded. That is understandable considering your area of expertise is real estate and not journalism. Below are your self-admitted credentials:

Barbara Corcorans credentials include straight Ds in high school and college and twenty jobs by the time she turned twenty-three.

I congratulate you on your success as a real estate entrepreneur and best selling author; however, you are an irresponsible journalist at best. If you are going to play a journalist on television, please play by the rules and report the facts. That is fair to the people who value your opinion. You would hate to misguide anyone, wouldnt you? I invite you to revisit Decatur, Alabama and do your research on the facts about the school system. Opinion is defined as A belief or conclusion held with confidence but not substantiated by positive knowledge or proof. Your opinion might matter to others because of great success and wealth, but your opinion about the Decatur City School System, although held with unenlightened confidence, is not valid.

To better inform you I am listing the facts about the Decatur City School System below:

a. The only Alabama school system north of Birmingham that has the IB Diploma Programme, and the only system in the state working to establish the IB Middle Years Program and IB Primary Years Program.

b. Academic measures are above the state and national averages.

c. Has been awarded the What Parents Want award from SchoolMatch for over 13 consecutive years this is a national award.

d. Decatur City Schools have been recognized more than any other school systems in Alabama with Safe School Awards from the Alabama Attorney General.

e. Programs such as Suzuki violin lessons for every third grader in the system, a partnership with the Kennedy Center, robotics clubs that win prizes at the state and national level, and the one-of-a-kind Wetlands Edge Environmental Center which is a large, hands-on, natural science lab.

As a frequent viewer, I feel as though many people have been misguided by your uneducated opinion. I am asking for a retraction and correction to be aired on the Today Show.

Regards,

Suzanne Horsley

Operations Manager

Optimation, Inc

256-705-5253

Fax 256-883-3070

Comments on Decatur City Schools

Jan Greenlee — Fri, 21 Sep 2007 14:05:16 GMT

Barbara,

I was most distressed yesterday when I heard you tell a national audience that housing in Decatur was cheap because of "the bad school system". Nothing could be further from the TRUTH! First of all the house you showed is in Danville, Alabama, and is not even in Decatur's school district. Second, it is at least 8 -10 miles from town, not within walking distance. Third, you did not talk to a real estate agency that really knows Decatur (REMAX, Century 21, the list goes on).

Your flippant attitude and bad information ruined yesterday (and we are still suffering the effects today). I could not get my work done (I am the internal auditor and compliance officer) for answering the phone. The poor secretaries at Central Office were even more swamped. We have always loved the Today Show and NBC, but we are floored that you did not do your homework on our school system. We would appreciate a rebuttal from you AFTER you review the facts and make your own decision. We think you will be amazed at what Decatur City Schools offers its students.

Here are just a few things I would like to share. There are many more that you can research for yourself, but we would love for you to come to Decatur so we could truly share our beautiful River City and our wonderful school system with you.

We are the only Alabama school system north of Birmingham that has the IB Diploma Programme, and the only system in the state working to establish the IB Middle Years Program and IB Primary Years Program.

Academic measures are above the state and national averages.

We have been awarded the "What Parents Want" award from SchoolMatch for over 13 consecutive years this is a national award.

Decatur City Schools have been recognized more than any other school systems in Alabama with Safe School Awards from the Alabama Attorney General.

Programs such as Suzuki violin lessons for every third grader in the system, a partnership with the Kennedy Center, robotics clubs that win prizes at the state and national level, and the one-of-a-kind Wetlands Edge Environmental Center which is a large, hands-on, natural science lab.

Very active PTA, Nationally affiliated; over 99% of our teachers are Highly Qualified; we are fiscally sound; we are recognized across the state as a benchmark school system; the list goes on and on. WE WORK HARD in Decatur to make sure we get the best out of our students. We have a high level of non-English speaking students that we work hard to educate and we have a high level of free and reduced students compared to some systems around us, yet we consistently match or even best the surrounding systems when comparing test scores, "apples to apples" and "oranges to oranges".

As I asked before, please offer a retraction and correction on the Today show, and come visit our town and school system. You will see first-hand a community that values public education and teachers and administrators who are well-trained and highly committed.

This has really hurt us, Barbara, and as a woman of integrity I hope you will do the right thing.

Thanks so much for listening.

Jan Greenlee
Internal Auditor and Compliance
Decatur City Schools
Professional Training Center
408 Bank St. SE
Decatur, AL 35601
256-560-6802
jan.greenlee@dcs.edu