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Archive for the ‘The Lowcountry’ Category

A small maze.

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I just read a post on Ronnie Bartles blog (http://www.bartlesandassociates.com/bartlebys-blog/2011/7/10/do-i-know-you.html) about the saga of Coco and her fiancée, first time home buyers. It made me stop and think about how things have changed over the past couple of years. Coco is not alone in her angst and customer service has all but disappeared. But there is hope!

My wife, Patricia, and I are Realtor*s and have helped a number of first time home buyers, and seasoned home buyers and sellers navigate through the real estate maze that is a fact of today’s market. We haven’t done this alone. We have a select group of service providers, that have mastered the maze, and we recommend them to our clients. As a team, we help our clients through the maze and bureaucratic red tape. No real estate transaction today is without stress, but we Team Up for Success and reduce the stress for our clients.

There should never be a reason for a home buyer to have to change agents, or home inspectors on any real estate transaction and then lose the deal after all is said an done. We cannot change the bureaucracy involved with bank owned homes, or short sales. But we can make sure that all the t’s are crossed and all the i’s are dotted. Team Up for Success is not just a slogan, it is how we approach our profession. If you have real estate needs, buying or selling, first timers or seasoned veterans, test us out! We want to Team Up for Success with you!

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Visit houselogic.com for more articles like this.

Copyright 2011 NATIONAL ASSOCIATION OF REALTORS®

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Image representing Facebook as depicted in Cru...

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Creating business connections is one of the best ways to build your business. For years business owners and sales people have looked for ways to make business connections that turn into lead generators. The Rotary Club and Chamber of Commerce came into existence as a way to create business connection. Even fraternal groups offer a means for business to connect with one another to generate sales. More recently, lead generation groups have become popular. Meeting once a month or once a week, these groups are interested in sharing leads with each other to stimulate commerce.

Times are changing and the pace of business is faster than ever. People hardly have time to get to client meetings, much less Rotary Club or Chamber meetings. We are attached by cellphones and are using Social Media in ways that are changing the way business is done and introduces a new way for creating business connections. Ellen Stebbins and Glenn Sojourner are re-imagining how to use Social Media in creating business connections with The Lowcountry Business Network (LBN). LBN is an adaptation of the old business connections model using the meeting places of today, those Social Media sites on the internet, in place of the conference rooms and diners of the past.

Ellen and Glenn started LBN in September, 2010. The network is growing and developing new strategies for the benefit of its members. Once monthly gatherings serve in place of weekly meetings. These gatherings include training and social networking, so they offer a bridge between the old model and what is evolving as the new model. Rather than focus on lead generation, members are encouraged to promote their fellow member’s businesses to their own social network. A tweet, a few well placed words on Facebook, or a connection in LinkedIn can go a long way to generate interest that turns into sales.

My business is being helped through affiliation with LBN. Exposing Dunes Properties Vacation Rental on IOP and Folly Beach to a wider audience will increase the number of vacation rentals at a very small cost to Dunes Properties. It can do the same for your business. Check out their new website http://www.thelowcountrybusinessnetwork.com/idevaffiliate/index.php to get more information about memberships an getting started with LBN. You might create the business connection that will move you to a new plateau!

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Cyclist Lance Armstrong at the 2008 Tour de Gr...

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If you’ve read some of my previous blog posts, you know that I committed to something called 30 Days of Biking for the month of September, 2010. My friend Kristen Badger Walker had encouraged members of our company, Dunes Properties of Charleston,  to sign-up. The rules allowed you to count a ride even if it was just around the block. So I did, but I had equipment problems. My LandRider hadn’t been ridden much so Kristen recommended I visit Dan at TREX Bicycles in Oakland Plantation. I did and Dan got the LandRider in suitable condition to take on the challenge.  

September in the Lowcountry of Charleston can be a bit hot and this year September started out that way. I signed up on Thursday, 9/2 and my first ride was Friday, 9/3. It was hot and my ride was short. Not because of the heat, but because I started having second thoughts (my body did for sure). Saturday was already booked with commitments and that made it easy to skip my ride. My wife, Patricia, encouraged me on Sunday and that was the reason I got back on the bike. All of this is to explain how the count of Days and Rides seemed to be out of sync.  

I’ve been asked what I learned during my 30 Day commitment. That is a hard thing to quantify.  A lot of things were re-learning things I knew…bike riding is fun, commitments  are good to make but can be hard to keep, moderate exercise won’t kill you and may be fun, and riding alone in the morning can bring clarity to your thoughts! I learned that I can do what I set my mind to do, but that is often hard to remember in the middle of a commitment. I learned that my body wasn’t as committed to this as my mind was. I learned that even with the encouragement of my wife and other good friends, it was up to me to carry out the commitment. And I learned that Lance Armstrong doesn’t have to worry about me as a competitor!  

My first ride was about 20 minutes long. My average ride was 30 minutes. Yesterday I rode 10 miles in one hour. Today I closed the commitment with a 35 minute ride. None of my rides were less than 20 minutes. I just didn’t think riding around the block was in the spirit of the commitment…unless it was a really long block! I owe thanks to my support group Patricia and Kristen. I also want to thank my accountability partners on The Lowcountry Business Network, Twitter, and Facebook. They were dragged into the job, but many of them were very supportive by their comments.  

My plan is to keep on riding, but without the daily posting. There was something else I learned. At 6’3″ and 255lbs, I’m not the typical bike rider. I might need to reshape my image and that leads me to my next commitment. Age will reshape the height which means that I need to take on reshaping the weight! I am committed to losing at least 40lbs in 90 days. The clock started on Saturday.  

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A lovely part of the Charleston Coast.

 

It has been a difficult time for the past several years for the economy in general. However, real estate seems to be at the center of the doom and gloom, and real estate agents have suffered as much as anyone during this economic down turn. Almost as much as the home owners they represent.

A number of agents have left the business. Many got into the business because they saw it as a way to make lots of money…They were wrong! Others got into the business because it appeared glamorous. They saw successful agents driving expensive cars and enjoying the finer things without, from their view, too much effort…They were wrong! It wasn’t a profession to them, just a job that they thought paid lots of money.

Patricia and I got into real estate with our eyes wide open. We understood that Realtors® are professionals in a field that is very complex and changing every day.  In our careers in the corporate world, we had over 20 personal real estate transactions where we were represented by professional Realtors®. Our NJ Realtor® handled most of our transactions, and referred us to other professional Realtors® in Ponte Vedra, FL and Atlanta, GA. We learned about how much work professional Realtors® take on in behalf of their clients.

Patricia was first to become a Realtor® and I followed her several months (OK, 2 years) later. Why did we do it? We wanted to help people by following the example of our Realtors®. They provided real service to us and that’s what we do for our clients. Our personal experiences taught us that there are many, many things to follow-up on to complete a transaction. From the negotiations on sales price, through inspections, and following up on deadlines and mortgages, a professional Realtor® makes it light work for their clients. We do that for ours.

We love helping people. We love our profession as Realtors®. If you are interested in buying or selling on the Charleston Coast, contact me at Mark@MarkandPatriciaFuchs.com, or Patricia at Patricia@MarkandPatriciaFuchs.com.  As part of Dunes Properties of Charleston, Nobody Knows the Charleston Coast Better.        

      

 

Professional Realtors® serving the Charleston Coast.

 

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Could this be a location for a 1031 property?


United States Internal Revenue Code (26 U.S.C. § 1031)

Section 1031 of the Internal Revenue Code is most often used in connection with the sale of real property.  If you have been in the real estate market looking for a way to invest money and defer taxes, you may have heard about ‘Like-kind exchanges’ or ‘Tax Deferred Exchanges’ as a possible means to accomplish your goals. These are alternate names for what is commonly known as a 1031 Exchange.







This is a simple transaction that allows you to exchange properties of like-kind and defer the taxes. The transaction is simple, but understanding the process may not be! What property qualifies? Here are a couple of examples of what does not qualify:



  • 1031(e) livestock of different sexes do not qualify for like kind exchange.

  • 1031(h)(1) real property outside the United States and real property located in the United States are not of like kind.

I was surprised about 1031(e). Aren’t you?


What is the difference between a second home and a vacation home? What taxes are being deferred? How long are taxes deferred? How does this benefit me? As a buyer, should I consider entering into an identified 1031 Exchange?  Do qualified exchanges have to be simultaneous? If not, how long do I have to complete a qualified exchange?  


There are many more questions depending on individual circumstances and it is in your best interest to get correct answers to the questions for your individual circumstances rather than depending on an overview to make your decision. Your professional Realtor® will be able to give information, but a Realtor® is only part of the resources you need. Your Realtor® will identify properties for your consideration. Another team member should be a tax attorney and a CPA who are experienced with 1031 Exchanges. They can give answers to how a 1031 Exchange fits into your portfolio, and how a 1031 Exchange fits into your estate.


If you are interested in a 1031 Exchange in on the Charleston Coast, contact me at Mark@MarkandPatriciaFuchs.com, or my business partner, Patricia Fuchs at Patricia@MarkandPatriciaFuchs.com


As part of Dunes Properties of Charleston, Nobody Knows the Charleston Coast Better.

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Real estate agents love being recognized for their hard work. There are times when agents are given awards for their work and they receive certificates or plaques to hang on their office walls. Recently, two agents from the Isle of Palms office of Dunes properties were recognized by Realtor.com for their “Online Marketing Excellence.” Barbara Walker and my wife, Patricia Fuchs are well-respected agents in East Cooper and deserve this award for finding clients that want to list properties with them.

Barbara, Patricia and Rebecca. A great team!

The interesting thing is that both Barbara and Patricia have an assistant, Rebecca Narkiewicz, who handles much of their administrative tasks, including posting their listings on Realtor.com and making them standout from the crowd of listings on Realtor.com. I started thinking about this when the awards were being handed out at a recent Realtor.com event. There were Barbara and Patricia receiving the award certificates, and Rebecca was sitting next to me smiling with pride that two agents that she supports were being recognized for their online marketing excellence knowing that she was responsible for a good part of the work that resulted in the award. Rebecca does her work behind the scenes. She is quiet and efficient in what she does. 

Realtors ideally should be out in their community putting a face on their brand, making sense of the stats and numbers, and educating themselves every day about their product.  We would not be able to do this without the Rebeccas of the real estate world.  Someone who is in the office daily familiarizing her/himself with the latest, ever changing online marketing strategies, typing, stuffing envelopes, making sure all the i’s are dotted and t’s are crossed on our paperwork. Our Rebecca has been given the nickname “RADAR” by many due to her ability to have information on hand before we know it’s needed.  Such support can be integral to our success (and sometimes our sanity). 

Behind every great person is another great person. Here’s to all of those who are behind the scenes making us look as good as we can look!

Thank you, Rebecca for all of the excellent work you do.

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