Monday, December 31, 2007

Dave's Top 10 - Television Marathons

The Holiday Season is the most popular time for Television Marathons. At the moment of this post, the $100,000 Pyramid Marathon is winding to its conclusion on Game Show Network. Tomorrow, the Let’s Make A Deal Marathon will commence at 9am Eastern. Do you see a theme with my marathons?

Yes. I’m somewhat of a game show addict. One day…I hope that you’ll see me on TV and say…

I know that guy! He’s my real estate agent friend in Columbia, South Carolina.
Sorry. I digressed. Anyway…….

These marathons motivated me to share with you my personal 2008 Television Marathon. These are the shows that will give me a break from the real estate world. If you are looking for something new to watch on television, give these shows a try.

1. Family Guy – If you are a member of Generation X, this show will be hilarious!

2. The BoondocksAaron McGruder’s Comic Strip comes to life on Cartoon Network’s Adult Swim.

3. Countdown with Keith Olbermann – I can describe this show in eight words “World’s Worst Person in the World and Special Comments”. Don’t forget to by his book entitled Truth and Consequences.

4. The First 48 – This is a REAL LIFE (not staged reality) show based on homicide detectives in cities such as Memphis, Tennessee and Miami, Florida.

5. Reno 911! – If you are a fan of the long running television series COPS, you’ll love this parody! This is another hilarious show!

6. Mythbusters – This show deals with the validity of urban legends that have existed throughout history. Does mice actually scare elephants? This show attempts to answer that question.

7. American Gangster – This is a documentary series featuring some of the most notorious African-American gangsters. Ving Rhames is the narrator.

8. Dr. Frank E. Ray, Sr. – Dr. Ray is the pastor New Salem Missionary Baptist Church in Memphis. If you are ever in Memphis on a Sunday morning, Dr. Ray's sermon is a required activity. I watch his sermons on The Word Network.

9. Boston Celtics Games – I am a huge Kevin Garnett fan! This will be his best opportunity to with a NBA Championship! “Let the truth be told!”

10. The new television show of 2008 that catches my attention.

Here’s wishing you a safe, blessed and healthy (and great TV watching) 2008!

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Monday, December 17, 2007

Buying Real Estate Foreclosures

Guest Contribution from Rhonda Burgess

Buying a foreclosure is NOT always a good deal. With so many foreclosures and distressed properties on the market right now, one could easily assume that a foreclosure is the way to go. After all, it was a nice house at one time. The lenders have lost so much money lately that foreclosures are being sold for pennies on the dollar, right???

Wrong! While no lender wants to foreclosure on any homeowner, it does happen. We are all told at the closing table "If you don't pay, you don't stay." The main reason why so many people lose their homes is because of illness and being unable to work due to the illness.

Even though these days more and more foreclosures are being attributed to the adjustable rate mortgages, illness is still the #1 cause. And usually what happens during this time of illness is that the house as well as the mortgage is neglected. No maintenance, no pest control, no lawn care, no painting, no cleaning, etc. These houses become a shell of their former selves. Normally by the time the bank has taken it back, this once prized asset has deteriorated in condition and value.

Lenders never want to own real estate. Banks/lenders are in the business of loaning money, not buying or selling real estate. Lenders make even worse property managers so they had that over to Realtors to do.

The marketing job comes back to the Realtor to market that property and get it sold FOR AS MUCH AS POSSIBLE and as quickly as possible. The lenders want to stop the bleeding too.

While in some parts of the country that have been hit especially hard by foreclosures, the vast majority are not selling these properties for pennies on the dollar. Many of the banks have gotten into the home improvement business by rehabbing many of these properties before they place them on the market.

Let me say it again, the banks want them sold FOR AS MUCH AS POSSIBLE.

Simply do the math: If a lender has invested thousands of dollars in rehabbing a property, do you think they are looking for 50 cents on the dollar when it sells?

We get calls from buyers who only want to see foreclosure listings. There are certainly still some bargains to be had in the foreclosure market but buyers need not overlook the other existing homes on the market. If you find a great home that has been loving cared for by their present owner who continues to do the grass cutting, maintenance, etc., at a below market price next door to a foreclosure that needs work for the same price, which one do you choose?

With the sheer number of well-maintained, aggressively-priced existing homes with motivated sellers, buyers need to consider all of the properties on the market and not just focus on the foreclosures.

Foreclosures sure do sound good on paper or in the media, but foreclosures are not always the best deal.

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Sunday, December 16, 2007

Get A Home Warranty!

For homeowners, selling a home can be a challenging task. For home buyers, purchasing a home is a major investment and a big step in their lives. For both, most systems are hidden from view and are easily taken for granted until something goes wrong. That is when your asset/investment can become a major headache! Hence, home warranties are becoming a fundamental part of all real estate transactions.

Homeowner Advantages

Sellers give themselves a marketing advantage and are protected from unexpected bills on covered systems and appliances during the listing period. Sellers also reduce their after-sale liability. In this litigious society, that type of protection speaks for itself.

Buyer Advantages

After making your down payment, covering your closing costs, paying for moving and incurring all incidentals, your home should provide comfort and joy, not the surprises of extra (and expensive) repair bills on major systems and appliances.

Beginning on the day of closing, your year-long home warranty provides for the repair or replacement of mechanical systems and major appliances that break down due to normal wear and tear. Plus, if you like the peace of mind that is provided by your home warranty, you have the option of renewing your warranty on an annual basis.

For more detailed information about your Home Warranty options, please feel free to email me at

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Saturday, December 15, 2007

Welcome to The Patterson Files!

The Patterson Files is the blogging voice of David Patterson, Broker with Keller Williams Realty in Columbia, South Carolina. Through this blog, David will express his opinions on metropolitan Columbia real estate, area attractions, local vendors and public establishments. David will also share his thoughts on sports happenings, music and an assortment of other topics.

“From personal experience, I have found that trust can be gained through friendship.” – David Patterson

“In order to make a friend….you first gotta be a friend.” -- Chuck Brown (

The Patterson Files is David’s attempt to be your trusted source for Midlands community information and your friend in Columbia real estate.

From time to time, David will be inviting some Guest Contributors to this blog. His goal is to build a network of families, friends, neighbors and fellow real estate agents in an effort to openly discuss real estate and life in our lovely corner of the world known as Richland County.

Who knows……you might be asked to become a Guest Contributor.

“Remember…this blog is for my readers (that would be you). Without you, it cannot be a success." -- David

If you’d like to submit a topic for to be covered on this blog, please send your topics to

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