Help is Here for Jobless Homeowners Nearing Foreclosure
There have been rumors and various news reports circulating that FHA will soon be allowing unemployed Americans who have an FHA insured mortgage to miss up to 1 year of mortgage payments without being foreclosed on. My hope in writing this article is to provide more details on this topic that is sure to prompt more and more discussions and questions. IMPORTANT: Please note that only the customer’s current lender can give them a final answer on if they qualify under this program. The number to call is on their mortgage payment coupons or...
read moreGREC Comes Down Hard on “Falsification” of Contracts
Who has $200 to $1,000 to spare these days? The Georgia Real Estate Commission is cracking down on a variety of “falsifications”, and you could receive a fine of thousands of dollars for committing only ONE of the following: Fill in your company and the amount of earnest money in Par. 4, but don’t actually collect the personal check, money order or certified funds from the buyer yet. Did the buyer fax you a copy of the check he intends to mail to you? Sorry, but that won’t be accepted for deposit by the bank. Oh, and be ready to pony up the...
read moreHome Hunting Without Fear
As any daredevil, extreme sports addict or adrenaline junkie knows, well-grounded preparation for the specific task at hand is what takes the fear out of trying.The sometimes risky sport of home buying is no different. Those who’ve suffered the agony of defeat in what’s likely the most dangerous consumer game, learned the hard way that sheer fearlessness isn’t enough to become and remain a homeowner — through good times and bad. With the rules of the housing game changed forever, preparing to just squeak by the home...
read moreCreative Ways to Curb Spending
Now is a great time to buy. Homes are affordable and interest rates are at historical lows. Lending is tight, however. You need a stellar credit score and a clean credit report to even get your foot in the door.Long gone are the days of zero-down down payments. You need money down to venture into the housing market. Some financial experts recommend at least a 20 percent downpayment. Here are some creative ways to curb spending so you can save up for the house of your dreams. The first rule of saving is to be patient. Large nest eggs are built...
read moreSeven Deadly Credit Score Sins
John Ulzheimer, president of Consumer Education at SmartCredit.com, the credit blogger for Mint.com, is an expert on credit reporting, credit scoring and identity theft.Formerly with FICO, Equifax and Credit.com, Ulzheimer is a rare editorial source — a recognized credit expert who actually comes from the credit industry. He often references in his writings the “Seven FICO Deadlies,” credit score deflating actions, but only recently identified them in one consolidated list. Your credit score, from about 350 (poor) to 800...
read moreGreat Housing Expectations
We all know that over the past few years, sellers have had a very hard time coming to grips with the fact that their home has probably lost considerable value. But what are buyer’s expectations like in our current market? Do they really think that they will find a luxury estate in a posh neighborhood for $50K? The answer is YES. However, while they’re going to get a better deal than 3-5 years ago, there are limits as to what your dollar will buy you. The old adage “you get what you pay for” still applies. What can agents do to better prepare...
read moreAre You a Victim of These Common Real Estate Myths?
Realtors® are expected to demonstrate competence in working with or representing buyers, tenants and owners. Ninety-nine percent sincerely try to fulfill this requirement. To do so, Realtors® must know the “rules of the game”. Imagine playing Monopoly or some other fairly involved game with someone who has never played that game before. They don’t know the rules. They have no clue that Boardwalk is a better property to build houses and hotels on than Baltic Avenue. They don’t understand the value of accumulating all the properties of one...
read moreSwimming Pools – Added Value Or Limited Appeal?
To most Georgians living in neighborhoods, the Memorial Day weekend takes on a special meaning: The opening of the community pool. On the other hand, some homeowners need only step into the backyard to lounge by the pool. But does having a pool on your property help or hinder when it comes time to sell your home? The answer is neither simple nor straightforward. Truthfully, investing in a pool can benefit one homeowner while not adding an ounce of value to the next. Pool Market Experts say the biggest market for pools consists of buyers who...
read moreMust-Have Mobile Real Estate Apps
I attended a real estate technology conference recently and sat in on a presentation about mobile real estate tools and resources by Chris Smith from Tech Savvy Agent. He shared several really good apps that can help sales associates streamline their business. Here’s a few of the apps that I thought you’d find most helpful. Leave a comment and let me know which apps help you be a more efficient real estate agent. Evernote – Remember everything a client shares. Evernote saves your ideas, things you like, notes, favorite webpages, snapshots of...
read moreEmail Etiquette Is VERY Important in Real Estate
So much of our daily communication is by email. We email friends and coworkers, customers and clients as a regular part of our day. Sometimes we can forget that our written words can be easily taken in unintended ways. What may be acceptably casual and friendly with friends at the tennis club may appear lazy and poorly written to a client. Quick responses may seem efficient to us, but may come across as terse. And when we get angry and commit those thoughts to email, they can come back to haunt us well after the emotion has passed. I searched...
read more