Archives of real estate blog entries for December 01, 2011

Featured blog posts


By J. Philip Faranda, Broker-Owner
(J. Philip Faranda (J. Philip R.E. LLC) Westchester County NY)
Is a contingent offer at market value?  I have the same conversation over and over as I meet people in the same situation. Case in point: Today I interviewed a very nice couple in a small town just north of Westchester County who expired with their broker last month. I won't bore you with the details, but it was brought up that they *may* have a buyer for their home. However, the would-be buyers have to sell their own home first. This is not an unfamiliar scenario.  In many cases, people who have a contingent (as in, they have to sell their own house first) buyer have even gone so far as to discuss-and agree to- a purchase price. When they interview an agent to list their home in case their contingent prospect can't perform, they sometimes can't reconcile the recommended list price from...
Comments 51
By James Quarello, Connecticut Home Inspector
(JRV Home Inspection Services, LLC)
Water and mold, two things that most every home buyer or homeowner for that matter, fear. While a healthy respect for both substances is more sensible and realistic. The fact is there has and continues to be much misinformation around fanning the flames of mold dread. Truth is mold is every where. Some of it even tastes good. One thing about fear I have found, it makes my phone ring. It also makes other phones ring too, but that is what the fear mongers desire. I how ever have a different agenda. Recently I was contacted by a property manager (email, not by phone) with whom I have working relationship. The problem, moisture and mold in a condo unit in a building her company manages. The construction is new, the building is not. A mill that has been converted to one level condos. The man...
Comments 41
By Donna Harris, Realtor,Mediator,Ombudsman,Property Tax Arbitrator
(Donna Homes, powered by JPAR - TexasRealEstateMediationServices.com)
December 2011 Market Reports Challenge. Last Month for bonus points... If you haven't heard about the challenge, read about it here. Please post ONLY your Market Reports on this post and not questions about the challenge. Since I'm making this a public post so we can all get further SEO juice with all the link backs to the different posts about the different markets, it's unnecessary for the consumer to read other remarks, unless you're specifically complimenting someone's market or report or have something to say about their market or report. I will delete them if they are not needed to be seen by the public. You can post questions on the post link above talking about the challenge. Post all your reports together in one comment so we are not hunting through the comments looking for thr...
Comments 192
By Mona Gersky, GRI,IMSD-Taking the mystery out of real estate.
(MoonDancer Realty, Dillsboro,NC)
Does referring to ActiveRain members really work? Oh yeah, they sure can!   In February of this year, I googled real estate agents in the Stem, NC area. We were working with buyers getting ready to close on their new house in Franklin, NC. They were blissfully happy about the new house. The only thing that kept them from being (thank you Robin Williams) FULL TILT BOZO HAPPY was the unsold house they owned in Stem, NC. I offered to find them a good listing agent. After googling “real estate agents in Stem, NC” I found 5 agents. First, I looked at their online presence. I weeded out the agents with hard to navigate sites and was left with three agents. All three agents had an association with ActiveRain and I found that to be helpful. Then I called the three agents. I‘m still waiting for...
Comments 51
By Pacita Dimacali, Alameda/Contra Costa Counties CA
(Alain Pinel)
CASE STUDY: Countering the bank’s counter offer on bank-owned listing First time buyer is preapproved up to $500,000 and wants to get the best possible deal, isn't shying away from short sales and foreclosures. A bank-owned property listing meets most of her requirements. Buyer was cautioned and counseled about how to write an effective offer based on what is known about the property     The property foreclosed at $495,000 The list price is at $485,000 Market value is around $500,000     After much discussion, agent prepares an offer for $450,000 -- with the bank crediting buyer up to 3% towards closing costs --- and hopes for the best   BANK COUNTER OFFER The bank’s asset manager counters at $480K, and with more aggressive timelines but agrees to 3% credit for closing costs. Buyer won’...
Comments 93
By Nikesh Parekh, Technology Entrepreneur, Executive, & Investor
(Suplari, Inc.)
ActiveRain needs YOUR help.  If you are following my blog roll you've surely seen ActiveRain's dedication to fixing and updating our back end.  We are making good progress with Pivotal Labs on our software upgrade. We need 20-40 volunteers to TEST ActiveRain on the new Ruby on Rails software framework.  Everything has the same look and feel to you; you're driving the same car just with a different engine.  We want you to go to a different web site and use ActiveRain just as you normally would.  Blog, comment, search, post and do what you normally would - and look for things to break.  Drive the ActiveRain car, turn on the A/C and if heat comes out we need to know.  If you hit the right-hand turn signal and the windshield wipers come on, we need to know.  Anything that works differently ...
Comments 148
By Andi Grant, Helping 1st time buyers and home sellers in LA!
(310-508-4354 | FirstTimeHomeBuyerRealEstate.com)
Seller confronted me on how I did my job! As soon as I saw him pull up to my Buyer Walk-thru, I knew there was going to be trouble! REWIND TO A COUPLE OF WEEKS BEFORE: I started working with a great first-time home buyer investor who wisely decided to purchase a Los Angeles duplex in order to live in one and rent out the other for her first-time home buying purchase. After having narrowed down the choices, we decided on a remodeled duplex that was an investor flip producing enough rent from one of the occupied units to nearly pay her entire mortgage, including taxes and insurance per month.  Perfect!  DEAL BREAKDOWN: PRE-CONTRACT - Based upon my discovery of false MLS advertising of the number of permitted  bedrooms along with my revised CMA, I suggested we drop the price considerably l...
Comments 113

Blog posts


By Sally K. & David L. Hanson, WI Real Estate Agents - Luxury - Divorce
(EXP Realty 414-525-0563)
   Our Primary "Charity of Choice" is The Womens Center in Waukesha.  One of our goals in helping them throughout the year, is to introduce their organization to others and make them the "charity of choice" for for other people as well.  The Womens Center serves the surrounding communities in a number of ways...from the crisis line to the shelter, the highly skilled and compassionate staff helps women and their families transition from an abusive home to a healthy independent living environment.     Every year at this time, there is a "Secret Gift Shop" where the children can choose gifts for their Moms from the items that have been donated for this cause.  We dropped off the items we purchased for this event over Thanksgiving weekend and if you are unable to get to the Center, located ...
Comments 5
By Steven Roantes, "Ensuring Your Insurance!"
(Mutual of Omaha)
ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL - 12/01/2011 Your FREE ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL - 12/01/2011 list has been posted.   CLICK HERE FOR YOUR PERSONALIZED REPORT OF ACTIVE REAL ESTATE FORECLOSURES   OR visit http://www.propertiesinbirmingham.com/search/ ACTIVE REAL ESTATE FORECLOSURES FOR SALE These are Single Family Homes 'Active' on the Birmingham MLS. These homes are ripe for the picking. Don’t Let them pass you by. ACT NOW!! ACTIVE REAL ESTATE FORECLOSURES FOR SALE I hope you have an awesome day, packed with smiles while searching for your active Birmingham AL Real Estate Dream. ACTIVE REAL ESTATE FORECLOSURES FOR SALE Pending sales of U.S. existing homes jumped 10.4 percent in October, according to an index released today by the...
Comments 1
By Joe Petrowsky, Your Mortgage Consultant for Life
(Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709)
“Statistics Indicates, Home Values Continue to Decline?”   Here is what is wrong with this picture. You can make statistics look any way you want. What percentage of sales are foreclosed properties? Certainly a good percentage. These sales are all lumped in together, which will bring the averages down.   Realtor partners of mine, tell me that over 50% of their current sales involve a bank owned property. If that is so, what is the condition of these properties? What percentage of these properties are being purchased by an investor? What percentage of these homes are purchased by a first time home buyer at a substantial discount, need extensive repairs and are financed through an FHA 203 K or Fannie Mae Homepath loan?   Certainly most individuals reading this information understand, what...
Comments 3
By Wallace S. Gibson, CPM, LandlordWhisperer
(Gibson Management Group, Ltd.)
Then WHAT you ask?......Good looking men, Fancy dressed women, Reba McEntire as host in a ballroom in Las Vegas and it is NOT the Country Music Awards? It is the 2011 NASCAR Championship Banquet - Friday/tomorrow at 9P EST on Speed. After several SNAFUs with this event, NASCAR has finally done it RIGHT.  A GREAT Host who has probably grown up with NASCAR, in a town KNOWN for it's hospitality, in a venue (Steve Wynn's hotel) that is welcoming AND gracious. NASCAR "gets" that it is about the FANS.  After watching women walk into the banquet rooms in NYC with goosebumps because they could not afford to stay at the "host" hotel because of COSTS, I am glad that this event was moved to Las Vegas several years ago. YES, NY turned down a racetrack in their area and much of the television media ...
Comments 3
By Joe Petrowsky, Your Mortgage Consultant for Life
(Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709)
“Prospective First Time Home Buyers Need to Know Who Their Competition Is ” The article below, talks about a surge in home sales to investors. Ask yourself, why are investors buying homes today? They are buying them below their real value in order to make a profit in the future, heck I’m doing the same thing! Week in and week out, I do preapprovals for first time home buyers. They will compete with the investors in the market place. I continue to read articles and blog about prospective home buyers that are on the fence. Most would get off the fence, if they read articles, like the one below. I have owned a 4 family for a number of years. All my tenants know what I do for a living, as I email them monthly, about mortgages and related topics. One of them, emailed me the other day, after ...
Comments 2
By John Wingate, Salisbury MD Real Estate, 302.339.5185, Salisbury, MD Homes
(EXIT Shore Realty)
Great points about buying your first home! These are great tips that we can help with clients.  Thanks Don for sharing this with us all.      Last year saw first-time home buyers snapping up the highest market share ever recorded (according to the NAR). After years of being pushed out of the residential market by spiraling home prices, first-timers are now coming into the market in force. Yet navigating the waters of today’s Gahanna real estate market can be tricky, especially for the first time home buyer who is faced with determining when - and what - to buy.   Some of the uncertainty that goes with an unpredictable economic news can be relieved by considering time-tested real estate buying guidelines. When considering buying a home, here are two fundamental questions that can help wi...
Comments 0
By James Quarello, Connecticut Home Inspector
(JRV Home Inspection Services, LLC)
Water and mold, two things that most every home buyer or homeowner for that matter, fear. While a healthy respect for both substances is more sensible and realistic. The fact is there has and continues to be much misinformation around fanning the flames of mold dread. Truth is mold is every where. Some of it even tastes good. One thing about fear I have found, it makes my phone ring. It also makes other phones ring too, but that is what the fear mongers desire. I how ever have a different agenda. Recently I was contacted by a property manager (email, not by phone) with whom I have working relationship. The problem, moisture and mold in a condo unit in a building her company manages. The construction is new, the building is not. A mill that has been converted to one level condos. The man...
Comments 41
By For Sale By Owner Flat Fee MLS Listing For $395, Save 3-6% Commission
(RealmartRealty.com)
Home for Sale By Owner in Ramsey, NJ 07446 - Flat Fee MLS Listing $395 479 Canterbury Dr Ramsey, NJ 07446 - Realtors welcome, buyer agent commission paid at MLS#1141143 4 Beds 4 Baths Open plan living at it's finest. Located within the Ramsey Golf and Country Club (membership req'd), there's no finer location if you value privacy, golf course views and easy access to the club's seasonal amenities. The 18 hole golf course, swimming pool, platform tennis, fishing, and of course fine dining, are all within a brief stroll. The house stands on approx 0.4 acres, but with a further 0.5 acre of common ground and woods surrounding, the sense of space and privacy is remarkable. The Scandinavian themed interior has been extensively remodeled with design input from local interior designer Tim Higgi...
Comments 0
By Jerry Newman, Texas REALTOR, San Antonio Military Relocation
(Brown Realty, 210-789-4216,)
YouTube Thursdays - Are You Making Videos Yet?Video marketing is here to stay and is growing daily as the preference for consumers to receive information. It appears that videos are becoming more popular than just normal text.  Blogging is great, but adding a video to your blogs will take it to an new higher level, and will even get you more of that much needed Google Juice that we all strive to have. Now, YouTube has become the 2nd largest search engine in the whole world, and is growing with all those organic search results and by capturing the attention of the consumers.  Stephen Schweickart of VScreen has stated that “Video is 41% more likely to get clicked on in a google Search than a normal text link.” No doubt the real estate industry will have to adapt to keep up with this curre...
Comments 50
By Ed Kurosz , Lic. Assoc. RE Broker, Douglas Elliman Real Estate Hamptons & North Fork
(Douglas Elliman Real Estate - Westhampton Beach & Quogue)
        38 South Road Westhampton Beach New York 11978   $650,000       HouseCottage1 Story Built 1930830 Sq. Ft.OHW HeatRooms2 Bedrooms1 BathsBsmt PartialProperty0.50 acresRoom For PoolTaxes: $4,634         Sale Remarks: Old cottage with very little integrity remaining. Half acre heavily wooded parcel in the Incorporated Village of Westhampton Beach. Here is your opportunity to remove existing structure and create your own custom-built new home in a great central location. Rear wood barn has little integrity as well. Land Value. Just moments from the Westhampton Country Club, the heart of the village business district all with easy access to the Atlantic Ocean. Ed Kurosz & Suzy RibeiroLicensed Associate Brokers(631) 288-6900 · Mobile Ed: (631) 796-6949 · Mobile Suzy: (516) 635-8402Ema...
Comments 3
By Alison Creamer, Realtor,MRP,ABR, CDPE,IMSD,HamptonRoads
(Keller Williams Elite)
If your buying a home on the water you may need to research what you can do with the land. Its critical to ensure you will be able to use the home the way you want. There are strict requirements you have to meet. Take time to review all the aspects before you make that commitment to purchase. Make sure to look at the wetlands site too because depending on what you want to do, it may involve the wetlands. http://www.dcr.virginia.gov/stormwater_management/theact.shtml http://www.vbgov.com/government/offices/eso/boards-commissions/pages/chesapeake-bay-board.aspx http://www.vbgov.com/government/offices/eso/boards-commissions/Pages/wetlands-board.aspx http://www.dcr.virginia.gov The Virginia Department of Conservation and Recreation Bzibee Real Estate Team at www.BuyHamptonRoadsHOMES.com an ...
Comments 1
By Jason Hands, Purchase Specialist - www.jasonhands.emmloans.com
(E Mortgage Management )
ResMac Mortgage is a direct mortgage lender in Tampa. We offer the best rates and fees in the industry with in house underwriting, processing and with no lender overlays allowing us to close loans in 21 days or less. We are a full service direct lender with no lender overlays with Stated Income loans, Conventional, Jumbo, FHA, VA, USDA, HUD Homes, My Community, Home Path and Hard Money to 70%.I also have access to many local county down payment assistance programs in Hillsborough, Pinellas, Pasco and Orange Counties.• Down to a 620 Mid Score on FHA, VA & Conventional Financing, a 640 Mid Score on HomePath, HomeSteps & USDA Financing, also Hard Money Loans to 70% LTV• REO, Short Sale, Foreclosure & Probate Purchase's• Up to 100% Financing On VA & USDA• Up to 97% Financing On HomePath & H...
Comments 0
By Jason Hands, Purchase Specialist - www.jasonhands.emmloans.com
(E Mortgage Management )
ResMac Mortgage is a direct lender based in Boca Raton, Florida. We offer the best rates and fees in the industry with in house underwriting, processing and with no lender overlays allowing us to close loans in 21 days or less. We are a full service direct lender with no lender overlays with Stated Income loans, Conventional, Jumbo, FHA, VA, USDA, HUD Homes, My Community, Home Path and Hard Money to 70%.I also have access to many local county down payment assistance programs in Hillsborough, Pinellas, Pasco and Orange Counties.• Down to a 620 Mid Score on FHA, VA & Conventional Financing, a 640 Mid Score on HomePath, HomeSteps & USDA Financing, also Hard Money Loans to 70 % LTV• REO, Short Sale, Foreclosure & Probate Purchase's• Up to 100% Financing On VA & USDA• Up to 97% Financing On ...
Comments 0
By Jason Hands, Purchase Specialist - www.jasonhands.emmloans.com
(E Mortgage Management )
Are you looking to purchase a home in Pasco County Florida and you are Short on funds to close? Pasco Opportunity Program (POP) is a partnership between Pasco County and several not for profit agencies. These agencies buy homes, have them repaired, and make them available for sale. They already meet all the rehabilitation standards of Pasco County and FHA.. You can purchase a Single Family Home, Townhome or a Villa. The home must be in the targeted areas within Pasco County. The maximum sales price cannot exceed $240,000. You do not have to be a 1st time homebuyer or live in Pasco to utilize the program. In order to apply for assistance, you must apply through one of the partner financial institutions that have signed agreements with the County. The financial institution will make an in...
Comments 0
By Jason Hands, Purchase Specialist - www.jasonhands.emmloans.com
(E Mortgage Management )
Guaranteed Rural Housing Loans There are two ways in which the USDA helps borrowers achieve the American dream of home ownership. USDA Guaranteed home loans – This is the most common loan offered, in this scenario a lending institution provides the homeowner with a loan. The USDA then insures the loan in case of default by the homeowner in turn reducing the risk of the lending institution. USDA Funded Home Loans – In this scenario the USDA lends the money directly to the homeowner. Both of these options are there to help people that would not normally qualify for a mortgage become homeowners. The guarantee provided by the USDA helps low and moderate income families with little money for a down payment achieves home ownership. To be eligible, applicants must: Have dependable income that ...
Comments 1
Slide through the fish tank with SHARKS at the Golden Nugget Las Vegas by Robert (Vegas Bob) Swetz   Vegas Bob Captured this video of the fish tank pool at the Golden Nugget in Las Vegas Nevada, located on Fremont Street Downtown. If you look real close you will see there are very few people around the pool and that is because it was in the morning when it had just opened. Some of my family stayed at the "Nugget" over the Thanksgiving holiday so I was able to get in to shoot this video, you must have a hotel key to get into the pool. The pool is heated and by about 2:00 pm in the afternoon it's very difficult to find a place to sit or lay to suntan, yes suntan ... "This is Vegas Baby" in the desert and the SUN is always HOT. The "Nugget" has some great discounts early in the week so if...
Comments 10
By Colorado Dream House Team, Real People. Real Professionals. Real Estate
(Keller Williams Realty DTC)
About half of the mortgages I will close in December are for people who have an existing FHA mortgage and thought they could not refinance because of all the misinformation floating around about the current mortgage environment. The borrowers will be getting a nice Christmas present in terms of monthly savings for years to come. The most common misbelieves I encounter is that people with a FHA mortgage could not refinance because:  1. I owe more than my home is worth. 2. I do not have perfect credit. 3. I do not have an FHA mortgage. 4. I have an FHA mortgage, but the property is now a rental.  The FHA streamline refinance program is a thing of beauty that allows borrowers who currently have an FHA mortgage to refinance with a minimum of hassle. An appraisal is usually not required unle...
Comments 1
By Jason Hands, Purchase Specialist - www.jasonhands.emmloans.com
(E Mortgage Management )
Are you looking to purchase a home in the City of Tampa and need assistance with your down payment and closing costs? You can purchase your first home with as little as 1% of the purchase price. The City of Tampa offers a mortgage in the form of a Deferred Payment Loan to income-qualified homebuyers purchasing a single-family home within the City of Tampa. Homebuyers Must attend a homebuyer seminar. The applicant must apply for a first mortgage after executing a real estate purchase contract. The lender will then submit the loan to the City for consideration.A deferred payment loan is a second mortgage with no interest (0%), requiring no monthly payments as long as the property remains your primary residence. The deferred loan is secured by a promissory note (second mortgage lien), whic...
Comments 0
By Larry Lawfer, "I listen for a living." It's all about you.
(YourStories Realty Group)
What do you want in a vacation home? Anguilla Real Estate What are you looking for in a vacation home?  If you are looking for beach, warmth, family atmosphere and great food then you are in the right place. Anguilla is just such a place.  Located in the eastern Caribbean 7 nautical miles from St Maarten (St Martin) this 7 mile long island is known for it’s privacy and family atmosphere.  It is also home of some of the best restaurants in the world by many reviews. Malliouhana Hotel & Spa, Cap Juluca, CuisinArt are all noted and noteworthy resorts. This is where the celebrity crowd and the jet setters will settle into.  The spa life is a huge attraction, but the best part of Anguilla is the 33 beaches with many of them on the top lists for beaches and romantic beaches.  The island is d...
Comments 0
By Jason Hands, Purchase Specialist - www.jasonhands.emmloans.com
(E Mortgage Management )
Orange County Down Payment Assistance Program has received Millions from the Department of Housing and Urban Development to help homebuyers purchase their first home in order to stabilize neighborhoods. This program includes down payment assistance and help with all or a portion of the closing costs. You can purchase a Single Family Home, Townhome, Condo or a Villa. The home must be in Orange County. The maximum sales price cannot exceed $219,000. You are required to have one year residency in Orange County to utilize the program. You Must have legal right to permanently reside in the United States. Homebuyers Must attend a pre and post purchase homebuyers seminar. There is a limit on how much can be lent, depending on your income level and your household size.. The amount of assistance...
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