Gene Perez Your Real Estate Consultant, Santa Maria Homes

Real Estate Q&A: What is Earnest Money?

Greater Mortgage Solutions & Valley Hills Realty — Tue, 22 May 2012 09:34:51 -0700

After showing some of the Santa Maria homes for sale .. a client may want to make an offer on a home and in doing so usually they need to also right out a check which is the Earnest Money Deposit .. here is a quick and simple explaination as to what it is.

Via Donna Foerster, Metro Denver Real Estate Agent (Rocky Mountain Real Estate Advisors):

Real Estate Q&A: What is Earnest Money?

The seller asks the buyer for Earnest Money to demonstrate a serious intent to purchase the property. Earnest Money is typically 1% of the purchase price, however in homes priced over $500,000 Earnest Money could be as much as 2-3% of the purchase price.

Earnest Money compensates the seller if the buyer is in default of the contract, or if the buyer walks away from the purchase of the property.

As long as the buyer acts in good faith and works within the deadlines of the contract, the earnest money is protected and can be returned to the buyer if the deal cannot move forward. The Earnest Money will also be treated as a credit to the buyers’ down payment or closing costs upon purchase of the property.

The Contract to Buy and Sell Real Estate (in Colorado) specifies how the Earnest Money will be treated as part of the Real Estate transaction.

If you have Real Estate Questions, The Foerster Team has the Answers. Please call us at (720) 530-5554, email us at Donna@TheFoersterTeam.com or leave your question in the comments below. Who knows? Your question might be the topic of a future blog post!

Donna Foerster

The Foerster Team

Rocky Mountain Real Estate Advisors

www.TheFoersterTeam.com

720-530-5554 (cell)

That's not supposed to Happen!

Greater Mortgage Solutions & Valley Hills Realty — Thu, 03 May 2012 09:31:09 -0700

Real estate is a local market but this is exaclty what is happening with many of the Santa Maria homes listed for sale in the Santa Maria real estate market. Multiple offers on homes that hit the market the same day or next and trying to low ball homes listed is not going to work or watching too much flip this house.

Via Jon Eliason ~ Pagosa Brokers REALTOR® (Pagosa Brokers, LLC Pagosa Springs, Colorado):

Last week, I was out showing properties to a young Couple that has been wanting to buy a home since January. Back then, I told them that our market had already turned around and homes prices as well as their value was on an upturn. They waited.

They have been watching the news closely for some time, and when things looked bleak, they'd sorta back off. When the news came that home sales were up, they became a little more active.

A couple of months ago, we were seeing the Multiple offers scenario, but not to the extent of which we are seeing it now. It has gotten to the point now, that whichever home my buyers became interested in, it already has several offers, either coming in or already presented. My Buyers do not want to get into a bidding war.

They may have to.

My buyers found a home that they absolutely loved. We toured it and then toured it again the next day. They were prepared to make an offer. We pulled comps and drew up the paperwork. When we got to the point of presenting the offer, the Listing Agent had informed us that several offers were already received and a couple of more were on their way. This home had only been on the market for two days.

My Buyer exclaimed, "That's not supposed to Happen!".....

In this market, what IS supposed to happen?

The Buyers had been so in tune with the television and the media reports, that they lost focus on what was going on around them, locally.

Every Realtor® knows that each of our Markets are LOCAL, not National. Waiting to see what happens to the Nation as a whole, may just in fact leave a few Buyers wondering why they missed the "Bottom". It's because they were glued to the Boob Tube.

When a trusted Agent tells you it's time to buy, you may want to heed that advice.

Otherwise, you just may need to come to the next round, fully armed and prepared for a Bidding War.

Mistakes To Avoid When Selling Your Home.

Greater Mortgage Solutions & Valley Hills Realty — Wed, 21 Mar 2012 10:11:31 -0700

Good artilce on selling your home .. although I have to say that even with the homes in Santa Maria ,, I still come across home owners that think that their home is worth close to the peak market or will be in a year or two ..which sorry to say is total denial ..

Via Herb Johnson Northern Kentucky Realtor, Remax (NKYRealty/ REMAX Affiliates):

The US real estate market peaked in 2006. Since 2007 prices have declined, yet many sellers are still in denial about the market value of their homes. Some sellers still struggle to accept the reality of today's real estate market, whether they bought at the peak or bought decades ago. Other homeowners will admitt that home prices have dropped over the last five years but emotionally can't accept that their home has lost any value. It can be hard for homeowners to distance themselves emotionally from their home when it comes to pricing it to sell. Yet this is exactly what sellers need to do so that they can make rational decisions about a list price that will actually result in the sale of their home.

The list price of a home should reflect similar listings that have sold in the same area that could be considered comparable. If a seller is emotionally wrapped up in their home, as many are, this exercise can be very frustrating to say the least. Many believe homes that have sold aren't as good as theirs yet in reality most are.

Now put yourself in the shoe's of todays home buyers. They know the reality of the market and their looking to make sure they're getting a good deal. A home in todays market needs to be listed at a price that will entice buyers because it represents a good value. Most buyers know that prices have declined and are trying to purchase a home before the market recovers. Sellers need to be wary of Realtors who tell you that your home will sell for a higher price just to get the listing yet then intoduce the truth over time to get you to reduce the price to market value. It is human nature to try for a higher price than the comparable sales indicate yet ignoring them will only lead to frustration and your home becoming stale on the market. Truth is if you really want to sell, you won't be happy if your home is on the market for months with little or no activity. Under that type of senerio, statistically speaking, you will end up selling your home for less much later.

Another mistake I run into frequently are sellers who want to list their home based on what they want or need to net from the sale. Understand this does nothing to motivate a buyers to pay more than the home is worth. Buyers pay market value and simply won't overpay in today's market.

The best approach to selling your home is to find out what buyers are looking for in your area and see how your home matches up to their expectations. Today's buyers are looking for a home that is well-located, in good condition and is priced right for current market conditions. If the home needs work done to compare with the competition, do it before selling or discount the price accordingly.

For results a seller needs to be realistic about the current market value of their home and what preparation it needs in order to sell successfully. A professional Realtor can help evaluate the current market value and suggest cost effective improvements to help you maximize your selling price while getting your home sold.

All The Best,

Herb Johnson

859-372-8019 Direct Line

Herb@HerbJohnson.com Email

www.HerbJohnson.com Website

Buyers and Sellers wanted. Referrals Appreciated!

4895 Houston Road

Florence, Kentucky 41042

No Granite? Don't Let That Be a Deal-Breaker

Greater Mortgage Solutions & Valley Hills Realty — Sun, 18 Mar 2012 12:00:34 -0700

Had to reblog this I cannot tell you how many times I hear something like this when showing one of the Santa Maria homes on the market. As this author points out if anything should be a concern it should be the neighborhood .. the area the house is in that you cannot change. But granite counters or the wall or etc etc .. you can change it if its nothing major and with 203k loans you can even get a new kitchen.

Via David Hill PhD,ePro,SFR,CIAS,BPOR,CNE Chicago Real Estate Agent (Midwest Premier Realty, Gurnee IL 224-321-0699):

If you're looking for the perfect house, that huge wish list you're carrying around may be holding you back - and ultimately could cost you your dream home.

Even the casual HGTV watcher will be familiar with "granite obsession." Picture this: A real estate agent is showing a couple a house that has great curb appeal in their chosen neighborhood, at a price they can afford. It's perfect. Or is it?

"Hate that fixture," the husband says, as the couple checks out the dining room.
They pause in the kitchen.

"This has to be completely redone," he says. "No granite countertops."

She agrees. The husband and wife nod knowingly at each other, and the real estate agent, who has heard it all before, says to himself, "Granite obsession."

Despite the home's obvious advantages, the couple can't see the forest for the trees ... or rather the house for its décor.

Instead of obsessing over paint colors, fixtures and granite countertops, the couple should be asking their real estate agent about the neighborhood; discussing recent energy-saving upgrades and the home's electrical system; checking for leaks or cracks that may signal a roof repair or foundation problem; and deciding if the floor plan and room sizes will meet their lifestyle needs.

The couple should ask if window coverings are included and if the appliances are in working order. And even if these are not to their tastes, the couple will save a lot of money if they can live with the status quo and not have to buy new appliances, fixtures or drapes immediately.

Got questions?

Ask your real estate agent. He or she can recommend home inspectors, contractors, designers and others you might want to ask for a second opinion.

But don't hold out for granite, hardwood or high-end appliances. You may never get a second chance at your dream home.

If you’re thinking about selling your home, Click Here for a free home valuation.

If you’re looking to buy a home Click Here to sign up and receive property listings that meet your criteria as soon as they hit the market.

If you'd like to search local listings of homes for sale in Chicago and the surrounding suburbs yourself Click Here.



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What is KILLING All the SHORT SALES!!!

Greater Mortgage Solutions & Valley Hills Realty — Tue, 21 Feb 2012 13:26:47 -0800

Short sales are tough to do and you need to have some patience doing them you find alot of the homes in Santa Maria are short sales and represent a good number of transactions sold. But it does kill me when I see an out of town agent some times hours away selling a local property that just makes the whole process even harder. Looking to make the process easier here are some tips.

Via Scott Godzyk, One of Manchester NH's Leading Brokers (Godzyk Real Estate Services):

The one thing most people agree on is that Short Sales will continue to be a large part of our market for at least the next year. I work on a lot of Short Sales both as a Listing Agent and a Buyer Broker here in the Manchester NH area. The short sale process is not regulated, therefore the way agents handle it varies widely. There are some outlandish trends happening that are making the process frustrating that just do NOT have to be. There is no easy way to say it and this is no time to be polically correct when the result of a poorly handled short sale can lead to foreclosure.

What is KILLING All the SHORT SALES!!!

1. INEXPERIENCED AGENTS Listing them

2. PRICING THE HOME BELOW MARKET VALUE

3. OUT OF TOWN AGENTS taking listings

4. DISCOUNT BROKERS not providing full service

5. INEXPERIENCED NEGOTIATORS

6. SUBMIITING MULTIPLE OFFERS FOR APPROVAL

7. INCOMPLETE SHORT SALE PACKAGES

8. NO COMMUNICATION OR FOLLOW-UP BY AGENTS

9. UNREALISTIC TIME FRAMES

10. BUYERS WHO ARE NOT EDUCATED WHAT A SHORT SALE IS AND HOW THE PROCESS WORKS.

THE TOP THINGS YOU CAN DO ABOUT IT:

1. CHOOSING A LISTING AGENT: When choosing a listing agnet to conduct a short sales the seller should note that all agents are not created equal. They should also know they have a choice.

a. EXPERIENCE: Choose an agent who is experienced in Listing, Negotiating and Selling Short Sales. This is not the time for "on the job training". Do not settle.

b. CHOOSE ONLY LOCAL AGENTS: Too many home owners see flashy TV commercials and think that is their only choice. It is NOT. Interview and choose a local agent who will be there through each step of the short sale selling process.

c. FULL TIME AGENTS: Whether Buying or Selling you want and need a FULL TIME agent whose sole job is to assist buyers and sellers with Real Estate.

d. FULL SERVICE: Using a discount Broker could lead to discount services. In a short sale you need every advantage you can. This is not the time tio skimp. For sellers commission is deducted from the proceeds teh bank is willing to accept. Choosing a full service broker does not cost more but could mean the difference between an approval or losing the home.

2. PRICING THE HOME: When listing short sales the practice of listing the home "way under market value" to attract more offers is leading to an increase in short sale rejections. This practice should be avoided as it is not helping out sellers who are losing their homes to foreclosure becuase of it.

3. Some of the trends and practices you should avoid are:

a. Paying up front to List your house as a short sale

b. Paying up front for a negotiator

c. Paying for an appraisal to submit an offer.

d. The bank is not the seller in a short sale - the home owner is the seller.

CONCLUSION FOR BUYERS: If you are considering buying a Short Sale, whether you are in the Manchester NH area, Southern New Hampshire or located aywhere else thoughout this great country of ours, the short sale process is the same. As a buyer there are some things you need to do in order to have an advantage and opportunity to have your short sale approved. The short sale process can be long, it can be frustrating but it does NOT have to be.

CONCLUSION FOR SELLERS: If you owe more than your house is worth, if you are behind in your payments or if you have to move. A Short Sale could be for you. The most important tips is to list with an agent who is well experienced in listing, negotiating and selling Short Sales. If you live in NH, call me first. I use a professional negotiator that works on the sellers behalf when negiotiating with the bank at no cost to you. Most often the home owner can complete a short sale at no cost to them.

It does not take magic to turn your "For Sale" sign into a "Sold" sign. it takes a full time Local Agent who specializes in Listing homes like yours.

If you need to sell your home and you owe more than your house is worth, i may be able to help. I specialize in working with home owners to get your home sold. There are many options such as a short sale whcih may be able to help you.

Please try and avoid out of state or out of town agents and companies that make "out of this world promises". We are local agents with experience who never charge any up front fees. WE GET RESULTS!!!
If you need to sell a home in New Hampshire I can be that agent for you. I strive to provide the best personal and professional service through each step of the selling process.

We stand by you through every step in selling your home.

PLEASE SEE SOME OF MY MOST POPULAR BLOGS

TOP 5 TIPS For Buying a Bank Owned Home

TIPS AND ADVICE For buying a Short Sale

Should a Buyer Use more than 1 Agent to help then buy a home?

Why dont Home Owners just sell their Homes before they get FORECLOSED ON?

Are Buyers waging WAR on SELLERS?

Who the Heck Priced That House?

THE TOP 5 MYTHS about Todays; REAL ESTATE MARKET

THE TOP 5 WAYS to know if "NOW IS THE TIME TO BUY A HOME."

THE "SECRETS" to getting a SHORT SALE approved

Can a Listing Agent submit an offer to a Seller that is "TOO LOW?'

ONE OF NEW HAMPSHIRE'S LEADING AGENTS FOR SHORT SALES AND BANK OWNED HOMES...

If you are Looking for a Real Estate Agent you have come to the right place. Scott Godzyk is a Full Time and Local agent ready to serve all of your Real Estate needs through each step of the buying or selling process. We are proud to be locally owned and operated.

If you owe more than your house is worth, If you are behind in your payments, I may be able to help. Call me to find out how you may be able to sell your home at no additional cost to you.

Scott Godzyk is the Owner/Broker of The Godzyk Real Estate Services located in Manchester NH. With 25 years of Real Estate experience Scott specializes in Listing and Selling Bank Owned Homes, Short Ssles, Residential Properties, Condominiums, New Construction and Investment Properties. Scott services the counties of Hillsborough, Merrimack, Rockingham and Belknap. To contact Scott Godzyk please call 603-661-2121 or email sctprop@aol.com. his website is www.ScottSellsNH.com.

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What do you know about Radon? Don Quixote rides again!!

Greater Mortgage Solutions & Valley Hills Realty — Thu, 09 Feb 2012 12:23:43 -0800

Not very many people know about what Radon is and even some in real estate are not sure about it. Although with the homes in Santa Maria this is not really much of an issue. This is still a good article that was well written and that was worth sharing on information regarding Radon.

Via Charles Buell, Seattle Home Inspector (Charles Buell Inspections.com):

There is a saying: “The truth is what is so.”

The truth is---what is so.

Ponder this for a moment…..

After recent events here in the rain, it should be obvious to everyone just how true this statement is. There is tremendous danger in “assuming” that what we think is true---is in fact true. It is entirely possible for large numbers of people to be misinformed by non-digital information as much as we can be fooled by digital information.

Right off the bat, I want to make it clear that in some cases it may not even be possible to know what the truth is. It is obvious to me that when it comes to those sorts of things---it is best to keep an open mind.

When the government "gets on board" and says something is “so” it becomes even more difficult to keep an open mind. In fact, the government's simply saying something is “so,” is enough to convince most people---end of discussion. When that happens, a chain of events that affects anyone tied into, and dependent on, the government's information stream is affected. I find this fascinating in light of how most of us at one time or another speaks of not trusting the government. Just look at all the bickering about how the government handles almost anything. Yet when it comes to other things we just turn into the Stepford Wives.

While the psychology of all of this would make for a better subject of a book, as opposed to a blog post, I will do my best to keep this from turning into a book.

Today I want to talk about Radon---and raise the question: "What is the real truth about radon?

Rather than claim that I personally know what the “truth” is, I am going to attempt to show that there is at least the possibility that there may be a truth that is different than what one is used to hearing regarding Radon. I would ask that you keep an open mind and check out the hard science behind Radon. If you start to dig deep, you will notice that a lot of what is claimed about radon is in fact parroting of information that is dubious at best.

So what is Radon?

1. Radon is a colorless, odorless, radioactive gas. It is a result of the decay of uranium and is present to some degree everywhere on the planet. It is found in higher concentrations in some areas of the country than in other areas. If that was all we had to know about radon, life would be simple.

2. Radon is a multi-billion dollar industry. There is a tremendous amount of money to be made by testing for radon and mitigation of radon. Like other fear based industries it is fairly easy to get people on board with misinformation and half-truths. Once on board and invested, it is very difficult to jump off the wagon.

So which is closer to the truth? Are both the truth? Well obviously the first statement is true. Perhaps not so obvious---the second statement is true as well.

Now let’s visit the science behind the claims that Radon is a health risk. If there was no purported health concern regarding Radon there would be no industry built up around it.

I will start out by quoting Forensic Industrial Hygienist, Caoimhin Connell: “A large portion of the general population is under the misconception that the frequently published risks associated with radon are well accepted scientific facts. In reality, the vast majority of well designed studies do not support policy or positions that exposures to indoor radon pose a significant threat to health, and indeed, the majority of those studies indicate that, at concentrations typically seen in homes, as the level of radon increases, the risk of lung cancer goes down, not up.”

Now I don’t know about you, but this sounds HUGELY different than what we are used to hearing from those that have a vested interest in promoting radon as being a problem.

A blog post is an extremely poor means to cover this topic adequately. The most I can hope for is that my post will peak your interest enough to read the “story” behind this topic on your own. As an introduction to the topic I recommend reading, Radon—A Brief Discussion, by Caoimhin P. Connell. This article is where the above quote came from, and after reading it I suspect that most will find it difficult to not at least question the claims made by the EPA.

It is important to keep in mind that political organizations such as the EPA (we would love to think they are “neutral” wouldn’t we?), while they produce reports that attest to the elevated risk associated with radon, according to Caoimhin Connell, “to date (2010) there are no scientific studies that have ever actually shown that radon gas, as typically seen in houses, increases the risk of cancer.” In a position statement by the Health Physics Society “…risks of health effects are either too small to be observed or are non-existent.” The EPA itself even admits that there is no hard evidence to support the notion that Radon causes cancer at levels found in homes, but instead extrapolates its version of the truth from the fact that it is carcinogenic in amounts that miners are exposed to. Such an extrapolation is simply not supported by current knowledge.

Other interesting stuff that one can find, if one digs into the literature far enough (and is thoroughly discussed in Radon—A Brief Discussion) is that not only does the presence of radon in homes not increase the risk of cancer but that in homes with lower than normal levels of radon, health risks actually slightly increase. Exactly backwards of what the radon industry would have one believe.

In a study undertaken by Richard E. Thompson, and published in 2011 (EPIDEMIOLOGICAL EVIDENCE FOR POSSIBLE RADIATION HORMESIS FROM RADON EXPOSURE: A CASE-CONTROL STUDY CONDUCTED IN WORCESTER, MA) it was also found that Radon exposure in homes actually decreases the risk of lung cancers. So that no one has to look it up, "Hormesis" is the principle that some things that are harmful in large doses actually have a beneficial effect in small doses. Doesn't his sound like so many things we consume? While Radon clearly has a detrimental effect on human tissue at the levels found in mines, there is no comparison between the very highest levels found in homes in relation to levels found in mines---and certainly no comparison behind levels "typical" of homes that are considered to be in "actionable" areas.

The EPA has added two new studies to its website that attempts to deal with the criticism that concerns about radon were improperly extrapolated from studies of miners exposed to HUGE doses of radon. These studies, called "pooling studies," are where one combines the results of many studies and attempts to come up with conclusions more to one's liking than would otherwise be gleaned from the studies individually. Of course this is a bit "cynical" interpretation, but pretty much what this pooling approach amounts to.

While I realize that I am in full and familiar uniform as Don Quixote (those that know me have seen me ride this horse before) when it comes to doing battle with the Giant Radon Industry, I will end my ride today hoping that you will do a little more real investigation of the topic on your own.

With a squeaking and crunching of armor I will leave you with this important excerpt from, U.S. Department of Energy, (Radon- Radon Research Program, FY 1989, DOE/ER-448P., March 1990), “Currently there is very little information about...the health effects associated with exposures to radon at levels believed to be commonly encountered by the public. The only human data available for predicting the risks to the public are studies examining the health effects of exposure to radon and its progeny in underground miners. This information would be appropriate for predicting the risks to the public if everyone was a miner, everyone lived in mines, and a large fraction of the general population smoked cigarettes.”

Based on the 2011 study by Richard E. Thompson, this statement is just as true today as it was in 1990 and is likely why every other TV add is not about the dangers of radon, why there aren’t Radon billboards on every street corner or the sides of every bus, and why most of the information and warnings we do hear about radon is from the industry that is built-up around it---a case of following the money.

Charles Buell, real estate inspections in Seattle

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What is the “Absorption Rate”?

Greater Mortgage Solutions & Valley Hills Realty — Tue, 10 Jan 2012 11:41:28 -0800

If you are looking to buy a home more than likely you are also watching and listening to the news every time they even mention the word real estate. And more than likel you have heard the term absorption rate. One thing to keep in mind unlike the stock market the real estate market is a local market so just because you hear on the "Ntional " news one thing does not mean that it applies to "Your " market or area.

Via Myrl Jeffcoat (Real Living Great West Real Estate):

It’s not often that I am asked the question, “What is the real estate ‘absorption’ rate?” But, occasionally the question will arise.

The question is one sometimes asked by folks interested in buying or selling real estate; or for those simply interested in current market condition. The term, “real estate absorption rate” is used to help predict the housing market.

The general public sometimes hears the label used via the media, but they don’t often have the data to translate it into meaningful information. The real estate absorption rate helps the public more accurately determine whether it is a buyer’s or seller’s housing market.

In a “Normal Market” the absorption rate is between 5 and 6 months. In a “Buyers Market” the absorption rate is higher (7+ months). But in a “Sellers Market” the absorption rate is lower (1-4 months).

A clearer definition of real estate absorption rate is to ascertain the number of months it will take to sell all homes currently on the market. If the inventory of homes presently on the market is a 12 month supply, it would mean at the current rate of sales, the market would need 12 months to clear the inventory, IF no additional homes came on to the market.

Being aware of the real estate absorption rate assists in creating perspective for homebuyers and sellers. It educates sellers so they can have realistic expectations about pricing their home for the market. By being competitive in price, they improve their odds of having their home sell quickly. Sometimes while making an offers on homes, buyers will use the absorption rate to obtain a lower price during negotiation.

It should be remembered however, that outside influences may dramatically affect the predictability of real estate absorption rate. For example, government policies and programs can either stimulate or wither the marketplace. An improved job market would have a significantly positive effect on the economy, which could spur buying and quickly clear out housing inventory and change the absorption rate picture.

It is important that serious homebuyers and sellers understand their local real estate market, and trends for their area, in order to make informed decisions regarding their real estate needs.

Real Living Great West Real Estate
(916) 635-0420
http://www.myrljeffcoat.com

The Top 10 Things to do to Prepare for an Appraisal

Greater Mortgage Solutions & Valley Hills Realty — Wed, 04 Jan 2012 11:49:55 -0800

Here are some very helpful hints to help you get the through the appriasal process and maybe to also help you with the values that you may be trying to get for your home.

Via Michael S. Bolton-MN Appraiser (Michael S. Bolton,Inc.):

How To Prepare for a Home Appraisal

You’ve just signed all of the paperwork for your refinance, handed the loan officer the check for the appraisal, and now you’re wondering what is going to happen next. Good news-the appraisal inspection is painless, and usually takes anywhere from 30-60 minutes to complete. However, there are a few things that you should do to help the process move along as smooth as possible.

Preparing for the appraisal inspection:

Create a detailed list of the recent improvements, which should include the following: when completed, cost of the improvement, before and after pictures if available.

Make sure each room is accessible; the appraiser is required to inspect each room.

If there is a crawl space, this area will also have to be made accessible for inspection for an FHA appraisal.

Give the appraiser room to do their job. Errors are more likely to occur when the appraiser isn’t able to concentrate on their inspection.

Keep all pets restrained. I’ve been bitten twice by a dog, and once by a cat; the owners had assured me that their pets were friendly-not so much!

If you live within a development that has a homeowners association, have the name and phone number of the contact person available, along with a fee statement.

If the appraisal is for an FHA loan, then the area leading to the attic will have to be cleared and made accessible-the appraiser is required to make at least a head and shoulders inspection of the attic area.

Walk through each room and straighten up as if you were getting ready for company to visit. Appraisers are objective and can look past many things, however, the underwriter reviewing the appraisal photos may feel differently.

Complete any unfinished projects-most appraisals are done “as is”, and any projects that haven’t been completed, will have to be adjusted for within the appraisal report.

A copy of any agreements regarding easements (shared driveways and/or garages,etc.) should be made available.

Concerns about value:

For years I’ve been a big proponent of developing a relationship with a Realtor. I’m not talking about a real estate agent who happens to be a relative that lives half way across the state. I’m talking about one that does a lot of work within your neighborhood.

By building a relationship with a professional Realtor (this is all they do and they do it well), they’ll be able to give you great insight as to what’s happening within your neighborhood, and they would be glad to let you know what similar homes are selling for.

Once the appraisal is complete:

You have a right to a copy of your appraisal, so ask for it. If you should find any errors or have any concerns, talk with your loan originator. This is hard for borrowers to understand, being that they paid for the appraisal, but the mortgage company is the appraiser’s client, and they can’t discuss the appraisal with anyone else unless given permission.

Trying to understand an appraisal can be like trying to read the “Dead Sea Scrolls,” so ask questions and get clarification when needed-you paid for it!

If you have any questions, or Minnesota real estate appraisal needs (divorce, bankruptcy, tax appeal, or estate planning) please contact Michael at 612.599-2581, or use the form on the contact page.

Optimist or pessimist - which one are you?

Greater Mortgage Solutions & Valley Hills Realty — Mon, 02 Jan 2012 11:27:06 -0800

Just something I thought worth sharing to help start the year off with the right perspective .. kind of reminds who moved my cheese and which one are you?

Via Andrea Bedard, M.A. ~ Central Maryland Realtor® & Mil Spouse ~ (Thompson Company Realtors):

"An optimist stays up until midnight to see the new year in. A pessimist stays up to make sure the old year leaves."~ Bill Vaughan ~

Were you excited to see the old year end or were you excited to start the new? Which one are you, the pessimist or optimist?

Not everyone regards a new year as a new beginning. For some, it is just the continuation of time with the same habits and same day-to-day pattern. For others - me included - January 1st is always a fresh start. I don't toss everything aside and start over - that is not the point. It is, however, the chance to start with a blank page, to set new goals and to learn how to achieve them best!

January is just a great opportunity to reflect on the past. I am big on visualization and always write down my goals beginning of each year: personal and professional. I don't make promises I know I can't keep but I set realistic goals. Those don't need to be monstrous achievements - I don't say: I want to lose 50 lbs this year. Instead, I say I want to get into better shape and I'll accomplish this by working out twice a week and incorporate the little stuff on a daily basis, e.g. park further away from the store and walk, take the stairs instead of the elevator etc.. I don't say I want to eliminate all our debt (although that is a nice thought) but instead focus on not incurring new debt by paying off credit cards as soon as the bill hits my inbox.

Personally, I follow these 5 basic rules on goal-setting:

1. be realistic
2. write them down
3. revisit goals on regular basis and reassess
4. celebrate progress along the way
5. don't beat yourself up if you don't accomplish it all

Each rule carries the same importance, one without the others will make it harder to reach your goals. While I've always written down my goals, I had to work hard on the last one. I no longer obsess about the goals I did not accomplish one year but instead analyze what I missed and what I could do better and use that knowledge to fill my blank pages! My friend Mike Cooper wrote a great blog about that very thought: Turn Setbacks Into Springboards. It is a great read, very inspiring and motivational.

The start of a new year is always exciting to me! There is so much hope for a better tomorrow and the promise of new opportunities. I choose to be an optimist - I stayed up to see the new year in!

"We will open the book. Its pages are blank. We are going to put words on them ourselves. The book is called "Opportunity" and its first chapter is New Year's Day!"

~ Edith Lovejoy Pierce ~

Which one are you, the pessimist or optimist?

ANDREA BEDARD, M.A. ~ THOMPSON COMPANY, REALTORS ~ LIVING MARYLAND BLIPS

Thompson Company, Realtors
15711 New Hamphsire Ave Silver Spring, MD 20905
o: (301) 384-9177 c: (240)593-2860
andreabedard@mris.com
Military Real Estate in MD Maryland Home Search

Andrea is a proud military spouse, mom of two beautiful little girls, hobby decorator and a Realtor® based in Silver Spring, MD. Andrea focuses on Montgomery County and Howard County Real Estate, she enjoys everything beautiful in life and always answers the phone with a smile.

All photographs are my own and I'd like to keep it that way. All information is deemed reliable but not guaranteed.

Then they came for the REALTORS®

Greater Mortgage Solutions & Valley Hills Realty — Sun, 03 Apr 2011 13:28:16 -0700

Even though you may not be a loan officer and even though you may never ever want to do loans the reality is the govt seems to keep putting their hands in this industry and change things ... so ask yourself are they making things better?? Well depending on how things will go with the mortgage industry its not hard to see that they can come in and re evaluate how real estate agents do business and get compensated ... if you think we need over haul then I guess you agree with the new changes if not ... why does not NAR speak up .. we can either be pro active or reactive ..

Via William J Archambault Jr (The Real Estate Investment Institute ):

Then they came for the REALTORS®!

　

First they came for the mid-level bankers, and I did not speak out-

because I was not a mid-level banker;

Then they came for the appraisers, and I did not speak out-

because I was not a appraiser;

Then they came for the Mortgage Brokers, and I did not speak out-

because I was not a Mortgage Broker;

Then they came for the Consumers, and I did not speak out-

because I was not a Consumer;

Then they came for the REALTORS® -

and there was no one left to speak out for me.

　

Then they came for the REALTORS®!

There is very little difference, today than when Pastor Martin Niemöller (1892-1984) wrote the original just different scape goats!

Today Dodd-Frank took away the consumer's options and choice about mortgage origination and control of their cost.

It's been twenty years now, since the Chairman of Countrywide made his speech about getting rid of the Mortgage Brokers, the very people that made him rich, to bring the origination fees back to the Banks. Today the Mortgage Brokers are nearly gone.

Then they came for the REALTORS®!

It's been even more than twenty years since the Banks wanted to get into/control real estate sales! Can the REALTORS® who didn't speak out for the mid-level bankers, for the appraisers, for the Mortgage Brokers, or for the Consumers really think all their finger pointing will protect them? Pastor Niemöller faced annihilation for 5 years in a Nazi concentration camp, may the REALTORS® be so lucky.

IE: MoPros Eat No Mo!!! New Amendment to Reg Z goes into affect April 1st. REALTOR, how long will you be eating?

　

　

Bill

William J Archambault Jr

The Real Estate Investment Institute

wja@reii.org   Cell 832-259-7078,    Houston 832-582-8415,       Las vegas 702-516-1569



From my past: GRI 1975, FLI 1974, Catalyst from a client 1974 an agent that makes things happen, REII, The Real Estate Investment Institute 1995.

©William J Archambault Jr   ©The Real Estate Investment Institute   ©REII

WordPress Trackbacks and Pingbacks - Communication Links between Blogs

Greater Mortgage Solutions & Valley Hills Realty — Mon, 20 Dec 2010 20:10:40 -0800

this is a great blog article if you happen to have a word press blog explaining how ping backs work as well as trackback. Not to mention links to your site and and linking out to other sites.

Via Victoria Stankard (Get Found Now ):

WordPress trackbacks and pingbacks are notification methods that allow blogs to communicate and link to one another. Pingbacks (XML-RPC) automatically find links in a post and attempt to pingback to those Urls. When they are found, your blog is notified.

Trackbacks are done manually by sending a HTTP post request to the destination blog using a trackback ping URL. Trackbacks contain content and need approval from the recipient, pingbacks don't.

How WordPress Trackbacks and Pingbacks Work

Let’s say that you wrote an informative and engaging post. Another blogger reads your post, likes it, comments about it on their blog and links back to your post. The other blogger then notifies you of the reference to the post in the form of a trackback.

If a trackback notification is coming from a relevant site that puts your blog in a favorable light and includes a link to your blog, then it makes sense to approve the trackback. However, before you can send a trackback to another blog or vice versa, both parties must support the trackback protocol.

Pingback notification allows bloggers to keep track of who is linking to, or referring to, their content. WordPress has a built-in pingback feature that notifies a blog whenever another blog post adds a hyperlink to the blog within their post entry. When a blog records the ping from an incoming link, the blog receives a pingback notice. No additional trackback link is required here. Since pingbacks do not send content like trackbacks, they are less likely to be spam.

Linking out to Authority Sites is Good SEO

Linking out to authority sites is actually good SEO. Yep, that's What I said. Even though this is concept is against what many SEO pundits will say, sending an outbound link to an authority website is good for your own SEO as it reinforces your own blog's topic authority. When you reference other relevant sources, it makes your own content more authoritative and relevant in the searches.

However, you only want to link out to relevant sites that offer quality content and you only want quality trackbacks posted on your site that provide value to your readers. Otherwise you risk tarnishing your site's reputation as a trustworthy source of information.

Sub-Web within the Worldwide Web

The blogosphere is often a two way street and if you're not spamming the recipient of a trackback and you're acceptingtrackbacks from sites that aren't spamming you, essentially, you are creating a sub-web within the worldwide web where everyone benefits.

The receiver of the trackbackgets an inbound link and a nice, supportive comment on their blog, the trackback sender gets a backlink (if a DoFollow exists), exposure and visitors to their blog and people searching for relevant content on the web are able to find what they're looking for.

NoFollows Links

Links to less important sites from your blog may not be so good for your SEO. You can add rel="nofollow" to all trackbacks, making them a good source of information for your visitors without affecting your SEO. Most Wordpress themes by default set the NoFollow trackback/pingback link.

A lot of bloggers remove the NoFollow to share link juice and appreciation with other bloggers who link to their blog. Personally, I feel it's good Karma to give a little "link juice" to relevant sites that link to your site. Hey, "what goes around comes round" I always say.

Even though NoFollow trackback links don't pass on any link juice, they do associate your site with the keyword phrase /URL pointing to your site, they put attention on your site by adding you to the discussion and they get people to visit your site.

Where to find the Trackback Link to Insert in Your Post

Most trackback links appear as a trackbackURL or hyperlink right immediately following the post entry and above comments. Here's an exmple:

Where to Insert the Trackback Link in Your Post

Once you find thetrackback URL on the blog you want to reference, paste it at the bottom of your post in the send trackback box before you publish it.

The recipient of a trackback will have the option to edit, post or dismiss it. Here's an example:

If thetrackback is approved, it will appear on the referenced site as a link, typically with a short excerpt of your entry, just enough to 'entice' readers to go back to your blog and read more. Here's an example:

Blog Marketing with Trackbacks

Check out Jack Humphrey's video on how to use trackbacks for link builing and getting visitors to your site. He explains how to find other relevant sites that allow trackbacks and walks you through the entire trackback and link building process in easy to follow, layman's terms.

Trackbacks are a good thing when they are not used for the purpose of spam commenting. They build links, give your site exposure, generate traffic and allow you to connect with other bloggers.

Search Engine Optimization & Quality Content - The Best of Both Worlds!

On our website, we give away a ton of free, up-to-date SEO information for webmasters, written by Michael Stankard, and expert business blogging tipsfor non-SEO experts, written by Victoria Stankard. Learn more about why people-focused, optimized content on WordPress is the answer for top, organic search engine placement SEO WordPress success – the Diva and Cowboy Way!

WordPress SEO company recipe for success!

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The lowdown on adding images to SEO blog posts

SEO Blogging – How Google spiders your site!

How to use tags for WordPress blog SEO

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5 SEO blogging tips for top search engine placement

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SEO Website geo-targeting for specific locales

The overuse of WordPress plugins

Pleasure blogging vs SEO business blogging

SEO case studies

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The magic formula for SEO blogging success!

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Duplicate content and web content plagiarism

Let us help you GET FOUND NOW!

We offer a comprehensive list of à la carte services to choose from or you can create a custom package that suites your business model and online goals. If you are interested in Internet presence management, blog coaching, WordPress training , SEO copywriting services, SEO WordPress set up (StudioPress-Genesis) or a SEO tune-up on your existing WordPress system, please fill out the online contact form or give us a call at 813.443.1585.

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Are We Ready to Solve the Housing Crisis?

Greater Mortgage Solutions & Valley Hills Realty — Mon, 01 Nov 2010 13:52:53 -0700

I know that there is alot of mixed messages as to whether we have recovered from this recession or not especially in the real estate market if there is anything that really stands out from this article is the chart at the end of this blog numbers are really an eye opener

Via John Mulkey, Housing Guru (TheHousingGuru.com):

With three years of struggle under our belts, are we ready to solve the housing crisis? Are we ready to accept a strategy that could help stabilize housing and begin to get the economy rolling again? Now that housing has become mired in yet another calamity (the the foreclosure scandal), are politicians, economists, pundits, and homeowners ready to take the medicine necessary to get our country back on track? While I’d like to think so, I’ve yet to see any positive action being taken.

The U.S. has thrown billions into the failed mortgage modification program, HAMP, the results of which have been pathetic. By the government’s own estimates we’ve made little progress in slowing the number of homeowners losing their homes, and in fact, are now facing a potential onslaught of 5 million additional foreclosures. Add in Foreclosure-Gate and it becomes obvious that we’re not only failing to make progress; we’re falling deeper into a hole in which housing could remain mired for years to come.

To ignore this problem is short-sighted at best; and to continue with the same failed “fixes” could allow the crisis to fester into a wound so severe that our very recovery could be in question. And while some may brush off my analysis as unnecessarily alarming, none have yet to offer alternative or less-costly solutions. The choice of many has been to be to just allow housing to crash and to pick up the pieces later. However, it’s now been three years, and we’re still crashing. Foreclosures are increasing; personal bankruptcies are increasing; and the nation has borrowed and spent billions that have failed to stabilize the economy.

Housing is the key to a recovery; it has always been so. The graph below shows just how far housing has fallen. As a percentage of GDP, residential investment is now at a record low spanning the past 60 years. Home sales and construction drive the engine that can lift us from this quagmire; without a housing recovery we may not add enough jobs to absorb the millions of unemployed for another decade. I don’t think we’re prepared to deal with the consequences of such malaise.

In order to restore housing it will be necessary to have PRINCIPAL WRITE-DOWNS, a solution I described in, “Punishing Foreclosure Victims Only Increases the Pain for all of us,” written earlier this year. At that time many objected to the idea, but the worsening market and economy has begun to make it more palatable to some; and whether or not we find the concept appealing, the issue must be addressed. Of course it’s complicated, and might require one more act of assistance from taxpayers; but doing nothing has already consumed billions and will consume billions more. Let’s put our money where it can have an impact and where it has the potential to produce a result from which we will all benefit.

Such a plan will require that banks absorb losses, that government provide some underwriting, and that homeowners commit to sharing future gains with their lender. The development of a workable plan would require compromise from all sides and would probably be best accomplished without forced government intervention. Creating such a plan would require bi-partisan support (if that’s possible) and should include the participation of Treasury as well as representatives of both the real estate and mortgage industries.

I see only two options. We can complain about the inherent unfairness of such a move, continuing to disparage those “irresponsible” borrowers who should have known better, or we can implement a strategy from which we will all ultimately benefit. Business as usual hasn’t worked; housing remains on a downward slide. Do we want to risk calamity? Or are we willing to learn from our mistakes and move ahead? Politicians won’t take the initiative unless forced to do so. Are we ready to solve the housing crisis?

The Housing Guru: The expert source for all your housing questions—now featuring daily updates of Today’s Housing News

The Stimulous Package at Work

Greater Mortgage Solutions & Valley Hills Realty — Mon, 01 Nov 2010 13:41:33 -0700

okay all things being and not getting all technical like interest charges and stuff like this is just a funny way of demonstrating how the stimulus program may have worked to some degree if anything it was worth sharing

Via Glenn Roberts - Seattle Residential (Lake & Company Real Estate):

Glenn Roberts | Ravenna Park | My Seattle | Lake & Co Real Estate

The Stimulous Program

In This Post

A Halloween treat from my Wisconsin brother-in-law.

It is a slow day in the small Minnesota town of Marshall , and the streets are deserted.Times are tough, everybody is in debt, and everybody is living on credit.

A rich tourist visiting the area drives through town, stops at the motel, lays a $100 bill on the desk and says he wants to inspect the
rooms upstairs before selecting one for the night.

1. As soon as he walks upstairs, the motel owner grabs the bill and runs next door to pay his debt to the butcher.

2. The butcher takes the $100 and runs down the street to retire his debt to the pig farmer.

3. The pig farmer takes the $100 and heads off to pay his bill to his supplier, the Farmer's Co-op.

4. The guy at the Farmer's Co-op takes the $100 and runs to pay his debt to the local prostitute, who has also been facing hard times and has had to offer her "services" on credit.

5. The prostitute rushes to the hotel and pays off her room bill with the hotel owner.

6. The hotel proprietor then places the $100 back on the counter so the rich traveler will not suspect anything.

At that moment the traveler comes down the stairs, states that the rooms are not satisfactory, picks up the $100 bill and leaves town.

No one produced anything. No one earned anything. However, the whole town is now out of debt and looks to the future with a lot more optimism.

And that, ladies and gentlemen, is how Stimulus works.

Glenn Roberts
Lake and Company Real Estate
206-524-3665
Seattle Residential ~ I Do That

Licensed broker since 1985 offering spectacular service to buyers and sellers in greater Seattle, with particular interest in Green Lake, Ballard, Phinney Ridge, Wallingford, Ravenna, Bryant, View Ridge, Roosevelt and the University District.

Referrals from past clients and other agents always make me smile.

Glenn Roberts | Lake and Co Real estate on Facebook

Boo! Don't let your clients get SPOOKED!

Greater Mortgage Solutions & Valley Hills Realty — Fri, 29 Oct 2010 13:28:08 -0700

Here are some great tips for your clients or for prospective buyers getting ready to buy on not getting scared on what the outcome maybe on the homespection report.

Via Chrissy Doremus ~ U.S. Inspect ~ Home Inspections (U.S. Inspect):

The home inspection is a very important step during the buying process, but for some reason, it is a step that can give some buyers—and even some seasoned real estate professionals—an awful fright! So, in honor of Halloween on Sunday, here are my 5 Ways to Make the Home Inspection Less Spooky!

The Spook: Home inspections are just plain scary.
The Scoop: OK, they are only scary if you let inspection myths control your experience. The truth is, we aren't scary people and we are here to educate, not get you shaking in your boots. What makes home inspections scary for some people, is actually past experiences, disappointments or just plain nerves. The good news is that most of that can be helped by just choosing the right inspector. The rest can be helped by acknowledging the concerns you may have. If it's your first home, it's OK to be nervous, if you've had past inspections not go as you liked, it's also OK to say hey, this is a different house and a different inspection—everything is gonna be OK.

The Spook: Maybe this house is more work than I thought.
The Scoop: You might see the house differently on inspection day, then you ever have before. The home inspection is often the first time you will look at the house more “analytically” instead of “emotionally.” It can be difficult if you are not prepared for the step-by-step evaluation of the house. But if you are prepared for the slight change of perspective that the home inspection may bring, the process becomes much easier.

The Spook: The house is not perfect anymore.
The Scoop: Ok, but rest assured, there is no such thing as a perfect house. Prepare for the fact that some defects may be found in the house, but keep in mind that every house—even a new house—has some. The inspection report and the inspector will help distinguish between big problems and small ones. Ask questions during the inspection. Think about your concerns and needs prior to that day and make sure you get the answers you require.

The Spook: The house is great, but the report still mentions a lot about required maintenance.
The Scoop: Buying a home is similar to buying a pre-owned car. One must always expect maintenance and some unexpected repairs. No inspection can completely eliminate all risks, and all homes require maintenance, repair, and care. It is important to be comfortable with this concept prior to the inspection experience—especially those who have never owned a home before.

The Spook: For what they are asking for this house, it should have been flawless!
The Scoop: Unfortunately, home price and home condition do not go hand-in-hand. Price has much more to do with location and the market conditions than anything else. After all, even million-dollar homes have defects. So no matter what the purchase price, avoid falling into the trap of expecting a flawless house.

Posted By: Chrissy Doremus, U.S. Inspect Blog

Reminders for Halloween Safety Tips

Greater Mortgage Solutions & Valley Hills Realty — Fri, 29 Oct 2010 13:25:13 -0700

Since its right around the corner and this weekend here are some good tips for parents to have a safe and fun time during your halloween weekend

Via Margaret Woda, Maryland Real Estate & Military Relocation Services (Long & Foster Real Estate, Inc., Crofton, MD):

TRICK-OR-TREATING IN CROFTON, MARYLAND

Keep the REAL spooks out of your children's Halloween night by taking these precautions when they go trick-or-treating in Crofton MD (or anywhere):

1. Accompany children when they go trick-or-treating - If they're a little older, stand back so you're not "lurking", but don't let a pedophile take advantage of this great opportunity to troll for vulnerable kids. And never let them enter a stranger's house!

Remember, adolescents are not too old to be at risk on Halloween or at any other time. (You might want to check the Maryland Sex Offender Registry, and avoid those residences when you take your children trick-or-treating.)

2. Encourage children to go trick-or-treating in small groups. If the group is too large, you might lose count if one is missing. My grandkids love it that their parents dress up in costume, too, but other kids may wish the adults to be less visible. Make this decision in advance, to avoid last minute hassle and controversy as you leave to go trick-or-treating.

3. Make sure that your children's masks don't restrict their vision, breathing or speaking . You don't want them to trip and fall, bump into things, or be oblivious to what is around them. You want them to be heard, if they call for help, and you certainly don't want their breathing restricted. Why not consider face-painting, instead of a mask this year?

4. Dress your children in costumes that will be visible in the dark. Black costumes may be Halloween-spooky, but they put children at risk, crossing the street. Even when children are safely on the sidewalk, you want them to be visible to someone backing out of their driveway. It's a good idea for them to carry a flashlight, too, and please remind them to stay on the sidewalks we have throughout our Crofton neighborhoods.

5. Enforce a strict rule of "No testing the treats ‘til you get home" so you have an opportunity to look them over for obvious tampering. Frankly, when my kids were small and less aware of every treat they received, I trashed everything they collected after they went to sleep and replaced it with candy I provided. (Reading this will probably be the first time they know that.)

By the way, if you give your kids a big dinner before they go out Trick-or-treating, they're less likely to want candy before they get home.

Posted Originally on October 30, 2007

____________________________________

Check out the complete list of Halloween safety tips published yesterday by the Anne Arundel County Police Department on Facebook.

Crofton MD is generally well-lit and there are sidewalks in most neighborhoods, so trick-or-treating is probably safer in this community than most. But it's still important to be responsible and exercise precautions. As an alternative to trick-or-treating, you may wish to take the kids to one of these local events:

Hallow-Screen at the Annapolis Town Center tonight, (Kids of all ages)

The Crofton Halloween Parade on Saturday (for the little ones), or

Haunted House at the Baysox Stadium (PG-13)

Copyright 2010. All rights reserved.

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MARGARET WODA
REALTOR® and Associate Broker
Long & Foster Real Estate, Inc.

Office: (410) 721-1500 x 6245
Direct: (301) 346-2923
Email: MWoda@mris.com

'Still passionate about helping home buyers and sellers in Bowie, Crofton, Davidsonville, Gambrills, Fort Meade and Odenton, Maryland, after 30 years as a REALTOR®.