No room in the house inspires more ooohs and aaaaahs than a beautiful kitchen. Shoppers are more excited to view the kitchen area than even a grand master suite with luxurious master bath. You know why? Nobody has time to enjoy the garden tub and heated floor tiles. We are a busy society of multi taskers and there is only so much you can do from the bathroom.

In terms of the modern family's needs, the kitchen is the queen of multitasking. No more is it simply a room to prepare, serve, and eat food. We gather there, do homework there, dress wounds there, hold meetings there, check email there, pay bills there, organize supplies there, have game night there, do arts and crafts there, and relax and enjoy a cup of coffee there when everyone else is gone.

I would love my kitchen if I didn't hate it so much. It is too tiny and lacks 75% of the features necessary to accomplish the above. Here are some things to look for if you're buying or remodeling so you don't have to suffer like me.

Cupboards and counter space. They all look big when they are empty so try and have a whole section of counter apart from the sink and stove sections that provides ample work space. Either the L shaped counter and/or island with overhang for bar stools is a must for my next house. The expanded area is super for quick meals and easy clean up as well as a good spot for homework and small projects. You need tons of cupboards too. I keep the majority of my pans and my wok in my Son's closet because there is barely enough room in the kitchen for cereal bowls and macaroni and cheese in this 1996 built house that dazzled us with cathedral ceilings, upgraded elevation & arches and round top windows. Woo hoo. Maybe with all that ceiling space I can build a pantry above my head.

A nice big pantry is essential for dried goods, some cleaning supplies, maybe even your Dyson! (the multi tasking king of cleaning!)

I like the computer desk in the kitchen area, too, if the whole thing can be shut up by cabinets so that the bills and clutter do not overpower the kitchen. The beauty of a great kitchen is that it manages all these tasks while still looking beautiful, organized, and inviting.

Accommodating family gatherings is a major prerequisite with most home buyers. Although a separate formal dining area may not be used often for "formal dining", it does control the flow of guests for any type of gathering and especially when paired with a kitchen equipped with smaller eating area and L counter and barstools, it provides maximum comfort and function when entertaining. When not being used for a get together it is a wonderful workspace for a school projects that spans days. Just don't put a delicate fancy pants dining room table in there unless you plan to host many elegant dinners.

Function aside, a kitchen inspires ooooohs and aaaaaaahs with its beauty. The granite counters, the decorative back splash tiles, magnificent appliances, double ovens, deep drawers for all the gadgets and small appliances (woks! blenders! food processors! george forman!)... maybe it is all beauty that only a woman can see, but fellas, if the queen ain't happy, nobody's happy!

I just called a very prominent repo guy's office for information on a particular house. I want to know if the plumbing is present, and if the house is a garden of mold with a swimming pool for a basement. That's it. No tiny details, just those very obvious observations that would make or break my buyer's interest in the home.

The response I got was, "we don't know". I realize that SHE probably does not know. I say someone must know. She says, "the property is AS IS because it is bank owned so we don't know." I ask if someone from their office accesses the properties before they are listed. She says, "yes we send people out." okay...... so....... I ask if those folks make notes regarding the major issues. She says "no". Are they around to talk to? "no".

To add to it, this poor girl is new and got stuck with my call. For everything I say and ask, she is repeating to the people around her at her office. The collaborative effort of service and information I received is zero from this office.

WHO DECIDED THAT THIS IS OKAY?! It is ridiculous and we are stupid to continually accept this level of non service as acceptable. I don't care how many hundreds of phone calls per day your office gets on these properties. If you can't handle it effectively, you need more staff and a new system.

I edited the name of the office out of this post out of respect for existing relationships, not to protect the identity of the broker.

In case there was anyone else disappointed like me that they didn't find out about the Bret Michaels Rock of Love show at the Machine Shop until it was too late, I thought I'd announce that he's coming back! Yep! May 27th. Me and Red already have our tickets! (Thanks Mac!)
Sorry Buddy, it's a cougar's night out. :-)

Note to Buyers... Reba and Red will be off work Thursday May 28th. :-)

Anybody else going?

I really thought I posted this already. I must have dreamed it.

I noticed on the sales board that the crazy "I'll buy your house if you'll buy mine" deal finally closed. I can't really say "without a hitch" because I heard they pretty much hitched their way through the whole thing. The success of this deal, I think, is due to the cooperation of everyone involved. The realtors and lender worked great together and the buyer and seller were both so terrific that whenever one of them hit a wall the other said, "what can I do?"

Two weeks after closing, the folks are still grinning ear to ear and offering thanks all around. At a tough time in the business when many are wondering, "why am I doing this?" these people remind me why.

The details of the deal were, are, amazing to me and I do still hope it inspires creativity to help other buyers and sellers. But now that it's done and appreciating the attitude of all, I'd also like to hold it up as example for everyone that an open mind, some kindness, and a little trust can accomplish more than greed and shrewd negotiation.

Okay this one is easy and non controversial.

I know we're all frustrated with the lack of good and up to date information about the repos we're showing every day and it is obvious that folks are working on it and that is awesome. Like the new "offer in negotiation" field on KX. Thank you for that!!!! I have another suggestion.

The comment section is just a waste of words and space anymore. We all know by now that the house is "as is" and that a pre approval is needed. We even expect that there might be some bank addendums involved. What we want is INFORMATION!

I have mentioned this before but I now I am asking you to please give us more details on the condition of the property. Is the plumbing and major mechanical available. How much mold are we talking about? You know, the things that make a difference as to what grade of handy man would be able to handle the job. It would save us and our buyers so much time (and gas) if we could weed out some of the wrong properties ahead of time.

Can we do this?

Lahoud...?

Raymond...?

Bueller...?

SUAVE...?

I am getting a late start this evening and my pillows are calling me. On my mind tonight as my day closes is that ridiculous bill passed last week offering tax breaks and financial rewards exactly where they should not be. I am not really the political sort but how hard is it to understand that if anyone needs a break, it is the home SELLERS not buyers! You know, the SELLERS, the ones in hardship, no money, losing their houses? Buyers are already benefiting from the unfortunate situation. And how about offering some incentives to the builders to stop building new houses and instead renovate some of those delapidated dogs ruining our neighborhoods. The great foreclosures go quickly. But there are those really bad ones that sit for years because the average guy hesitates not knowing what he is getting into. Those houses need experts to get in there and knock it out. Offer the builders an incentive for that. But as I take the last sips of my mango mojito and drift off into slumber it is the news I heard today that twirls in my head. That President Bush was actually against the bill. Hm. Now I'm confused. Does that mean that it WAS a good idea?

I lost 2 deals in the same day last month to other offers. This is surely not uncommon but the details didn't make sense.

Offer #1 was a decent offer submitted on a foreclosure in Burton. At the time of submission, there was neither activity nor offers on it. I called every couple of days to check on it and was assured it had been submitted and no other offers had come in. After about two weeks I got a counter. My buyer countered back. We were only a few thousand apart and it should have been a done deal. A week later I recieved a notice of multiple offers and a request for highest and best. I was furious. We had already begun to negotiate. Had the bank not been so slow to respong we would have come to terms a week ago. Had my offer been held for weeks in hopes of another offer that would instigage both offers being driven up? That is the only explanation I can come up with. It stinks on so many levels but I'm not going into that right now. At that moment I simply accepted that the agents and/or banks are able to do whatever they want and I would have to adapt accordingly.

Offer #2 came about that same evening. Earlier in the day I had called ahead to see if there was any activity or offers on the house I wanted to show. The Buyer was very serious and would likely be writing on it that night. I was told that one offer had come in just that day but that it had not yet been submitted and that she (the agent) would hold onto it and submit them together. Cool. This is what we normally do, repo or not if we know another offer is coming in. PLUS it was right in line with the lesson I had learned on Offer #1.

I showed the house that night, the buyer loved it, and told me to write it up full price. It was a great house at 25k. I called the agent to tell her about our full price offer and she told me that not only had she already submitted that other offer but that the bank had already countered and the people were accepting it.

WHAT?!

The whole showing and evening was a waste of everyone's time. When I reminded the agent that I called ahead and didn't want to show the house if it aready had an offers in negotiation, she acted like I was crazy. When I reminded her that she said she wasn't going to submit the other offer yet, she said, "well, I can't do that."

First of all YOU SAID YOU WERE GOING TO! Second of all, all the other banks are doing it, why can't you?

Offer #1 illustrates that offers are being held, for weeks in that case, and accepting more offers.

Offer #2 illustrates that the offer must be presented and dealt with immediately.

So what's the truth? I seriously am not interested in hearing anything about how the agents have to do what the bank tells them. I want to know what the RULE is. What is the universal protocol of submitting bank offers. If we could understand what is SUPPOSED to be going on, we, as agents, could represent our clients more efficiently and know when bad moves are being made so that we can deal with and make accountable those who don't act accordingly. Unless that is the reason no one WANTS us to know....

SO! Calling all REPO peeps! PLEASE tell us how you decide to stop taking offers. And if it is all the way up until the bank responds, then please explain why in the world it would take a bank 2 weeks to respond to a decent offer. Here's your chance. We all hate dealing with you... and I'll just say it... we think you are up to no good. Please prove us wrong and help us understand the way things are SUPPOSED to be done.

OMG ANOTHER DISCLAIMER: The opinions expressed by REBA are shared by everyone she has ever known but due to politics and keeping bridges constructed, these views are probably not supported by ChangingStreets.com. Nor do they apply to REPO SUAVE who is a scrupulous, ethical,and handsome man.

Too Many Places and Too Many Faces. Thank goodness for Jimmy Buffett on the Ipod, the only constant over the last month!

Raleigh & Charlotte NC for the NCAA's and tons of research, Miami for the Sony Ericson Tennis tournament and the chance to see the real estate carnage for myself (it is a myth, see below that town is catch fire again, soon), mixed with trips to Flint and a couple of meetings in Columbus Ohio. Man, I am tired.

The trip has been awesome, the knowledge gained has been awesome. Some great things to bring back to town and make a difference. The world is an interesting place right now, but there are some brilliant people working on great things and I have been fortunate to have some very humbling conversations with a lot of them. Some were scheduled meetings, some were inn airplanes, over breakfast or at a Starbucks. Wherever I was I have had a chance to meet some people that let me know opportunity is everywhere if you are prepared ( my kids start Mandrin Chinesse lessons next week!).

Anyway, two more months of outstanding stuff...More Raleigh, more Charlotte, more Miami, more Columbus, more Flint, and Washington DC and New York, New York (no Reba not Flaves girl) before ending the tour on June 2 at Van Halen at Van Andel.

Biggest Suprise of the trip so far: Having breakfast next to Serena Williams at the Ritz in Key Biscane, Flint girl has done well for herself.

Biggest Disappointment: Being in Miami finding out Jeff Roth make the Champions Tour event in the Domican Republic and not having my passport.

Most Fun: Calling Repo Suave and listening to him complain about snow while I was in short sleeves!

I am off to stare at the departure signs...

Miami Real Estate is hot, the market is a gold mine. Like finding an oil deposit, it will take a little time to get profitable but you know it will because of demand.

When I arrived in Miami I fully expected for everyone to have their heads down kicking rocks, feeling beaten and withered from the real estate bubble bursting. HA!

They cranes are still spinning putting up towers, the Ferrari population has not decreased and people were happy. Why not with the dollar so low, companies and people from all over the world are moving to Miami, great condos in great buildings are selling at very low prices. The number of foreclosures are amazing even by Michigan Standards but they are hard to find in prime areas, but the deals are everywhere. Tom Grimshaw showed me around for a couple of days giving me the scoop in Coral Gables, Coconut Grove, Key Biscane and the Beaches the deals are amazing.

This town will scream back sooner than later, the state of Florida needs to address the Tax in insurance issues to make second homes and investment more viable but they will have too to pull other parts of the state out of caos and Miami will benefit the most. Condos in South Beach, next to the new Ritz Carlton for under $300,000? Why not, buy it, use it, rent it occasionally and when things break out; reap the rewards.

Remember what happened in Michigan with property tax reform (proposal A) property values went up 40% in less than four years. Same will happen in Florida with Insurance and NonHomestead tax reform.

I know that this is the "I wish I would have" market. The fundamentals for long term investors are too good, use and appreciation great combination.

Yes the tour has included a lot of work, and here is the result.

In my opinion the sexiest two markets I have found for opportunity are polar opposites in everyway possible, but both hold huge possibilities for medium and long term investors.

Raleigh North Carolina is probably the best real estate market in the country. The Raleigh Realtors are super stressed over the fact they have nine month supply of homes and just over 200 foreclosures. That is how good the Raleigh investement home scene is. Home prices in Cary, Apex, Garner & Holly Springs (all suburbs of Raleigh) have risen in the 3-4% range every year for since anyone can remember, but the current panic and SLIGHT over building have created screaming deals especially on new build properties, this will not last long as the new build inventory is not that deep compared to job growth in growing population. I noticed $60,000-$70,000 discounts on Cary Newbuilds. The great part for medium to long term investing? Very low insurance and tax rates combined with the class of renters. The new builds I mentioned were in Cary 14 minutes from Research Triangle Park and located in a zip code with the highest number of PHD's under 45 in the country! The tenents pay like clock work according to everyone I spoke to.

Why are they renting they can not sell there homes in other parts of the country and cannot qualify with out doing so with the new mortgage rules. This creates huge pent up demand in the Raleigh Market, which will have a very bullish effect on values in the next 18-24 months.

There are also great foreclosures in Raleigh, a lot of great "improve and rent" opportunities. There are also great rental management companies with experience. And not to be undersold the cowboy factor is a non issue in Raleigh real estate. Finding the right agent might be a challenge, my two best finds: Tim Upchurch, 919.795.6100, he has invested, he manages and he knows the market. George Wilson, 919.387.4100 is a young agent that has game as well, he deals with some banks so occasionally has foreclosure listings and understands ROI.

To check out the MLS in Raleigh go to www.RLTriangle.com

Remember Stephen the Sunday Shopper who tried to give me gas money at the conclusion of our first meeting? He found a great house in Flint and we closed on it last week. Yeah!

My mind is still working on that price sheet, though, for the realtor hoppers, but I'll have to put some more thought into it. It's next in line behind my fantasy addendum to the Buyer's Contract that forbids the buyer to blame their realtor when their frustration mounts over constantly being "outbid" or "highest and bested".

I received a little slack for the last post I did regarding bank repos and everyone involved with selling them, so even though they have provided mounds of stress for me over the past several months, I have kept quiet. Then I saw a commentary on HNN last night about an environmentalist reporter who was totally bullied by an activist into changing his report on global warming. As with everything else I hear of that ticks me off these days, my first thought was, "yeah, just like the damn banks." Seriously, the banks are on my mind all the time. My small for his age 12 year old told me that a kid hocked a loogie on his binder while outside the school waiting to be picked up. My Son was just flabbergasted by the mean behavior. I told him, "I know, Son, just like the repo banks". I noticed the grocery clerk charged me $300 for my bologna the other day. I politely pointed it out but silently thought, "mmhm. just like a bank." I have heard all the grumblings and although the comments are made OFFLINE, I know I am not alone here.

As I was saying, after hearing the HNN story I decided I did not have to keep quiet about this situation that is causing frustration amoung agents and buyers. I will, however, approach it in a problem solving way. The fact is the process for buying REO property is ridiculous, unfriendly, time consuming, inefficient, and not at all conducive to any standard of customer service. (the bank may not be concerned about customer service but realtors are) Addressing these issues is too lengthy for one post, though so I will provide it in a series. Check back soon for PART 2, ISSUE #1.

DISCLAIMER: As I said before, I don't know whether the nonsense is on behalf of the listing agency, whether it stems from the bank, who is using who for a scapegoat, etc. So don't get your pocket card in a bunch that anyone is being called out. Let's problem solve together.

Thus concludes PART 1.