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Book Is Out!

Posted by Walter at 5:42 am

May 052013

I’m not sure if it has seemed as long to you as it has to me… Friday was an exciting day here! The final proof copy of “Small People – Big Brains” arrived here! And now, it’s available and on the market.

A few folks have had a preview both for review and proofreading. Jack Falvey, frequent contributor to the Wall Street Journal and Barron’s, had this to say:

This is a light fast read until it isn’t, and then you stop and read a sentence or a thought a couple of times… you will enjoy these classic and classy observations on the art and science of learning…”

In the pages of this “collection of stories about simplicity, exploration and wonder,” you’ll meet a second grader who becomes quite certain Mr. Boomsma is ignorant of the basic facts of life. How the young student handles this delicate situation is a lesson it tact that many adults should learn. You’ll also encounter a nine-year old who thinks he’s “an excellent reader and extremely smart ” until he’s forced to consider that being smart is about knowing what he doesn’t know.

The title of the book comes from an encounter with a young fellow who was firmly convinced that his difficulties at school were the result of his brain being too small. The stories, however, prove that these small people really do have big brains. They just haven’t always discovered and fully learned how to use them yet.

For more information and to order the print edition from Amazon.

For more information and to order the Kindle edition.

Want To Get Started In Real Estate?

Posted by Walter at 7:41 am

Apr 142013

Join a growing industry!

Sure, things have been tough… but this really is a great time to get started–the last sales agent class has 22 students! As a result, we are offering a special second spring course starting on Wednesday, May 15th. Before you can practice, you’re going to need to complete an approved course, pass an exam, and get a license from the state. But just because you have to do something doesn’t mean it can’t be fun!

Walter keeps the class interesting with anecdotal stories that put law into real terms. Good sense of humor!

Maine Law requires you to successfully complete a 55 hour course and pass a state exam… the class starts on a Wednesday evening, but meets primarily on the weekends. Get started and get in now!

Very interactive class was pleasant and enough breaks to not feel overwhelmed.

Walter’s real estate licensing classes are offered through the Arthur Gary School of Real Estate. For complete course details and to register visit the school’s website at http://arthurgary.com or call the school at 856-1712.

Real Estate Broker Course Starting Soon!

Posted by Walter at 11:46 am

Mar 142013

It (Broker Course) showed me what I didn’t know…

You get the keys for people buying houses, how about for your career?

Beginning April 6th in Bangor, Walter will be teaching the course entitled “The Role of the Designated Broker,” but it’s not just for designated brokers! If you’re currently holding a real estate associate broker license, this course is for you. You’ll learn what you don’t know and gain a whole different perspective about the business of real estate.

(I liked) the instructors approach to teaching with examples and (how) he encouraged lots of discussion during class.

This is truly a class about the practice and the business of real estate–not just law and theory. Upon completion of the course and two years practicing as an associate broker, students become eligible to apply for a Broker’s License and are eligible to fill the role of designated broker for your company. But even if you have no interest in being a designated broker, you’ll want to consider taking this course. You’ll develop a new understanding of the business as we look at some of the management issues and opportunities that exist in the increasing complex business of real estate. You’ll learn about things like business planning, ethics, and risk reduction–topics only touched on in previous licensing courses. The course is offered as a weekend course by the Arthur Gary School of Real Estate and will be taught by Walter at the Ramada Inn in Bangor. For more information or to register, visit the Arthur Gary School website or call 856-1712.

Erosion Control Requirements

Posted by Walter at 10:39 am

Feb 012013

Way back in 2008 a bill was passed that required, beginning on January 1, 2013, any activity that adds or displaces more than one cubic yard of soil in the shoreland zone, must either 1) be done by a certified contractor, or 2) a person trained and certified in erosion control by the Department of Environmental Protection (DEP) must be on-site while the activity is being done. The law does not apply to homeowners doing the work themselves. The long lead time between passage of the statute and final implementation of the law allowed excavation contractors and other interested parties ample time to become certified. Certification is achieved by attending an eight hour course given by DEP. There are currently 1,524 individuals on the list of certified contractors. For a list of contractors: www.maine.gov/dep/land/training/ccec.html

This information was excerpted from information provided by the Maine Association of Realtors… one thing I haven’t researched is what the penalty (if any) might be if a buyer purchased property where this requirement was not met by the previous owner (seller). I’d recommend buyers ask questions about any work done in a Shorelands Zone prior to purchase as part of their due diligence!

Foreclosure Buyers Beware

Posted by Walter at 7:41 am

Jan 222013

There are still a number of buyers who seem determined to buy a foreclosure. My personal rule is “you need a strong stomach, a lot of patience and courage, a good wad of cash, and an attorney on retainer.” I have yet another example of why that’s my rule.

The Bangor Daily News recently reported an interesting tale of a foreclosure purchase made in 2009. The original owners are claiming the foreclosure process was flawed–therefore they still own the property and have refused to leave the home. The “new” owners are paying the property taxes but haven’t had access to the property they “purchased” for over three years. You can read the details for yourself, including the fact that the case is now before the Maine Supreme Court. We can debate the validity of the original owners’ claim, but not the reality they made it and the court is apparently taking it seriously.

This particular case happens to be a tax foreclosure, but bank foreclosures are no less risky. Buyers love to point out that foreclosures can be a heck of a deal and think they “can’t lose.” I suspect these buyers would not agree. Even if the court eventually declares them the rightful owner, they are left with a huge legal bill and the need to evict the original owners.

There Might Be A Reason…

Posted by Walter at 7:16 am

Jan 022013

Let me start with a disclaimer: I am not in any way, shape, or form a reverse mortgage expert. For that matter, I’m not sure I know anyone who is… but with that, let me share a news story with you. The Bangor Daily News recently ran an article Seldom-used financial tool helps seniors purchase new homes without mortgage payments. I will tell you that the tool involved is a “reverse mortgage for purchase” and the story involves a woman in Westbrook who successfully used one.

The article notes that while these loans have been available since 2009, there haven’t been very many issued. There might be a reason for that. Understanding the concept will make most people’s head hurt and I don’t know too many lenders who are familiar with the program. If you are over 62 years old and would like to downsize–it will be worth reading the article and doing some research. Just use some caution and consider all of the financial implications.

Christmas Greetings!

Posted by Walter at 6:54 am

Dec 252012

My annual letter to clients and friends…

The holidays are a great time to say “thank you!” I’ve enjoyed your confidence and friendship this past year and it is satisfying to know that a lot of people—buyers, sellers, colleagues, affiliates and students—are achieving success as a result of our work together.

This is also a great time of year to look back and forward. You’ll recall last year I announced an increased emphasis on the training and education aspects of my work. This proved to be a wise decision both economically and personally as the real estate market continues to stagnate and, at the same time, transactions become more complex. As I’ve worked with students in real estate courses, I’ve noted two extreme directions agents are taking as a result.

One is to work extra hard and attempt to garner as much business as possible. Another is to specialize and be selective—almost the opposite. Fortunately, at this stage of my life and career I can take this second path. I do not intend to “quit” the business and I am only too happy to work with select clients. My intention is to continue to provide client-focused service with an attention to detail that would not be possible if I aggressively pursued a large number of clients. So do not hesitate to contact me if you are going to be involved in a real estate transaction as a buyer or seller.

I will, of course, continue to offer real estate courses. This fall I had one of the largest Sales Agent courses I’ve had in several years. This may well reflect a growing confidence in the future of real estate. I also had the opportunity to again serve on the “Core Course Committee” for the Maine Real Estate Commission. This select group of instructors develops the continuing education course required of all licensees who are renewing their license. It’s a lot of work and not without its frustrations, but it’s also educational and rewarding!

One of the more successful courses I offered through the Piscataquis Valley Adult Education Cooperative was Continue reading »

So You Want A Career in Real Estate?

Posted by Walter at 6:02 am

Dec 112012

That’s not as crazy as you might think. Sure, things have been tough… but this really is a great time to get started. Before you can practice, you’re going to need to complete an approved course, pass an exam, and get a license from the state. But just because you have to do something doesn’t mean it can’t be fun!

Walter keeps the class interesting with anecdotal stories that put law into real terms. Good sense of humor!

Maine Law requires you to successfully complete a 55 hour course and pass a state exam… there’s a course starting in Bangor this spring on March 6^th. Get started and get in now!

Very interactive class was pleasant and enough breaks to not feel overwhelmed.

If you have questions about starting a career in real estate, email Walter… find out what it’s like and why you’ll love to learn!

Gram’s Moving In!

Posted by Walter at 8:24 am

Dec 052012

A recent article in Real Estate Economy Watch offers a wealth of statistical data supporting the observation that “Today’s housing depression has again forced generations to move in together, but as the housing recovery takes hold, many plan to stay together and revive the multi-generational lifestyle of the past.” The article also, quite naturally, focuses on how this changes the real estate market. At least one commenter notes that the “biggest upside” of the trend is “more housing for the money.”

I’m not sure I agree. I might agree if the analysis was that this trend means different housing for money. Too often, we view the world as one dimensional and in America, it’s all about the money most of the time.

When I am teaching people who are studying for a real estate license, I tell them the biggest mistake one can make after getting licensed is to start out “poor.” It’s a horrible basis on which to make decisions and one can discover him or herself chasing commissions instead of objectively counselling clients.

I think that advice applies across the board. A real estate buyer who posted about a “Catch-22″ he’s caught in is clearly caught there in a large part because he doesn’t have the money required to complete a painless transaction. Even he sees an option of passing on the current purchase until he can save up some more money.

We shouldn’t–can’t really–ignore economic reality. But when we are thinking about living arrangements, we need to look beyond the economics. The personal and social impact of multi-generational living arrangements can be both positive and negative. Those impacts are something we can have some control over.

The Amish understand this with homes and farms where multi-generational living is the norm. (I would suggest you research “Gros Daddy Haus” except when I did, most of the references are to porn sites! That might say something about our society…) Actually, it’s more than a norm–it’s an expectation that is based on their larger definition of community and their tendency to carefully consider how changes will impact that and their way of life.

Given our economic environment, the likelihood of families facing these sorts of choices in clearly going to increase and in many cases “there won’t be a choice.” Even if you believe that, don’t just add up the dollars in the process–consider how that “forced” choice is going to impact you and your way of life. You aren’t just letting somebody move in with you, you are changing your way of life and with some forethought you can control the impact.

If, as the article suggests, you want to “stay together and revive the multi-generational lifestyle of the past,” understand that lifestyle isn’t something that just happens to you–it’s something you can consciously define and adopt.

Scam Alert!

Posted by Walter at 4:20 pm

Oct 292012

The Maine Association of REALTORS recently issued a scam alert to its members. Apparently inquires are being made via emails to the listing brokers of fairly pricey properties. All were from buyers from other countries stating that they had found their dream home online, had viewed all the pictures, and wanted to buy the home sight unseen. The emails were well written and sounded legitimate.

MAR warns that while these may be legitimate, they also could constitute a scam. Certainly buyers from other countries buy homes in Maine. What raises suspicion is the fact there have been a number of these inquiries around the state following the same pattern. Following up, slowly, carefully, and gently with the purported buyers is urged.

Previous scams have earned the trust of the agent prior to a request for account information into which to send their money. In previous scams there also has occasionally been a check or a wire issued with a reques for “change.” The original check or wire then turns out to be bogus. Or, they simply gain the account information and raid the account.

While this latest round of inquiries been addressed to licensees, it is entirely possible people who are trying to sell their own home could become a target. Be a little suspicious!

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