Yesterday I received a contract on a home I own.  It is a beautiful house with lots of amenities.  I have received 3 offers in the recent past for this home.  Every time before, the offers have been less than the asking price, one was even a low ball offer.  And everytime, the buyers have had things to say about the house that needed updating or they intended to remodel and wanted to save money to do the updating.

This sort of negotiating does not work very well.  I had emotional ties to this house just like my sellers have with their houses.  It was a negative from the beginning with each of these contracts.

Yesterday, however, was completely different.  The buyers actually loved my house!  They wanted it very much and were dreaming of living there.  The difference in their attitudes toward my house made me want to sell it to them.  I came down on the price to make sure they could have it. 

I have learned a negotiating tactic through my own experience.  I will use this from now on.  Never again will I go in to a seller or listing agent and say, "The buyers need to remodel and this is the reason for the low offer."  That is starting out with a negative.  Today I understand this so much better from my own experience.  I never knew what a difference the buyer's attitude could make.  It does!

Ricki Eichler Real Estate, your Texas Hill Country connection                                  www.reretx.com

953 Main                                                                                           

Kerrville, TX  78028

(830)257-2520

An interesting thing happened, I listed a home less than 2 weeks ago, there was 2 other homes for sale on the street. Within 7 days we had multiple offers and under contract in 7 days. The neighbor came running over as i was changing the sign to "Sale pending" In a huff she asked "How could I have sold it so quickly? Why did it sell over her house that has been on the market for 5 months? What kind of agent am I? and Who do I think I am??? Well I told her, I am one of the Best Listing Agents in the area.

 The lady responded with "Aren't all agents the same?"  Simply put... NO...  I take great pride in my work. I strive to provide the Best customer service possible.It starts with Buyers and Sellers knowing there is a difference and they do have a choice. Making the best choice possible is no accident. Selling your home quickly and at the Best price possible, also is no accident.

WHAT DOES IT TAKE TO GET A HOME SOLD IN TODAY'S MARKET

1. PRICING THE HOME CORRECTLY: One of the most important things that can help you sell your home is pricing it right. . List prices need to be priced at or near market value. The simple truth is over priced listings are one of the only segments of the market that are not selling. A great agent will study the recent sales, study what is on the market and use trends and comparables to place a value on your property.

2. CHOOSING THE RIGHT LISTING AGENT: As a home owner in this market you need every advantage you can to get your home sold. It starts with choosing the right agent.

a. Using a Full time agent whose sole job is to sell homes.

b. Using a Full service agent who will guide you through each step of the selling process. Discount brokers often equal discount services.

c. Using a Local agnet who knows your neighborhood and is readily available when you need them is a must. Out of town agents can leave you high and dry in your time of need.

d. Using a well experienced Listing Agent can give you the advantages you need when selling your home. Not all agents are created equal. Choose only the best.

3. GETTING A BUYER TO SEE YOUR LISTING: Before anyone can view your home, they have to know it is for sale. Using an agent with an extensive marketing and advertising program is the best start to get your home the exposure it needs and deserves. Some agents whose sole marketing plan is placing a sign in your yard and placing the home in MLS is not a sound marketing plan.

4. GETTING YOUR HOME READY FOR A BUYER TO SEE IT: A listing agent can guide a buyer to your front door, but the can not make them go inside. You need to prepare your house for sale.

a. THE EXTERIOR: Your lawn should be mowed, bushes trimed, debris, toys or belongings picked up and removed from the yard. In the winter shovel your walk and driveway, sand and or salt and knock those icicles off your roof. Make sure your scrren/storm door is in working order, it is the first thing they will touch and a storn door with a missing handle or off it's hinges will drive buyers away.

b. THE INTERIOR: Remove anything from your house you are not using, often called "decluttering". Clear off the counters, bureaus and floors. Make sure walls are free of marks or holes. Freshly painted walls in a neutral color are always a plus. Make sure all faucets and toilets run properly, no drips, no leaks and the toilets should not always run. Clean your carpets, remove pet items and during showings your poets should be taken out of the housel

5. BUYER AGENTS: Once I get the buyer to see the home, they love the interior and it is priced right. The torch gets passed to the Buyer Agents to make sure they inform and educate their buyers about current market conditions. Buyers need to be making better first offers. Offers should be accompanied with pre-quailification letters and forget the low ball offer if there is a lot of interest in a home. With the amount of homes on the market sharply decreasing and sales continuing to rise there is more competition for homes among buyers. The days of 'Low Ball" offers is near over for owner occupantsThere was a bit. Most buyers are learning the hard way losing their dream home by making a low offer. It is important to have an experienced buyer agent who can inform you of local trends and values.

 

IN CONCLUSION: There is a lot of behind the scenes work going on to get a house on the market, marketed, get an offer, go through the buyers mortgage process, appraisal, inspections and get to the closing of the home. If you did not notice most of these steps, I did a great job. With the decrease in Listings, there is pressure on Listing Agents to provide more service. For agents who have been providing a great service to their clients throughout the last 4-5 years they are being rewarded as home sellers and buyers talk, they let each other know who did the great job or who dropped the ball. As you see it is no accident a home sells. It is through the hard work of the agent.

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.

1. TOP 5 TIPS For Buying a Bank Owned Home
2. TIPS AND ADVICE For buying a Short Sale
3. Should a Buyer Use more than 1 Agent to help then buy a home?
4. Why dont Home Owners just sell their Homes before they get FORECLOSED ON?
5. Are Buyers waging WAR on SELLERS?
6. Do you owe more than your house is worth
7. Who the Heck Priced That House?
8. THE TOP 5 MYTHS about Todays; REAL ESTATE MARKET
9. THE TOP 5 WAYS to know if "NOW IS THE TIME TO BUY A HOME."
10. THE "SECRETS" to getting a SHORT SALE approved
     

 

 

 

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.

If you have enjoyed reading my blog, please subscribe by clicking below

http://activerain.com/action/blogs_admin/subscribe?subscribed_agent-id=226993

Copyright 2008-2011, All rights reserved

Home sellers can create spaces that appeal to prospective buyers by employing a little psychology and by engaging the 5 senses......You see, our brain takes all the sensory data it receives and transforms it into feelings and those feelings can be either overwhelmingly positive or overwhelmingly negative.  

The clever use of design elements in a home for sale can help sellers engage the senses of their prospects and thus trigger the desired positive emotional response.  Last week in, Love at First Sight, I discussed ways sellers can engage the sense of SIGHT to elicit desirable feelings in home buyers.  Today I'll cover the sense of smell.

Buyers react very emotionally to what they smell and this fact is often overlooked and minimized by home sellers.   The scent of a home can trigger strong emotional reactions - either creating uplifting, harmonious feelings or causing prospects to walk away (and not tell you why). Engaging the sense of smell is a powerful yet misunderstood and often misused tool.

The first and most important thing sellers can do is to identify and eliminate the odors in their home that buyers might find offensive.  This is often hard for home sellers to do because we tend to grow so accustomed to the way our home smells, that we don't even notice it.  Enlist the help of a friend who you trust will be honest and ask your friend to tell you what he/she smells the moment they walk into your home.   

Common pet odors can be a huge turn off to buyers. Since no one will find your pet as charming as you do,  consider relocating your pet while your home is on the market.  If that's not possible, thoroughly clean litter boxes, crates and other areas where your pet(s) spend the most time.  Odors can get trapped in carpets, upholstery and draperies, so consider getting these professionally cleaned.  

Musty odors can cause buyers to assume a moisture or mold problem exists. Other strong odors could indicate a plumbing issue or a pest infestation.  Identifying the root cause of these kinds of issues can be quite difficult so consider getting a pre-sale home inspection. The odor will not go away until the problem is addressed.  Avoid the use of artificial air fresheners, scented candles and incense - your prospects could be allergic and they might be very suspicious of what you're trying to cover up.   

Avoid cooking smelly and unusually spicy foods while your home is on the market as these offensive odors can often linger for days.  Enlist the help of Mother Nature - open windows as often as you possibly can to allow plenty of fresh air to circulate through your house.  Use aromatherapy as an effective tool to eliciting a positive response to your home by spraying essential oils mixed with water (these work much better than chemical deodorizers).   

Remember: the scent of sage can cause the feeling of euphoria while chamomile and lavender can have a calming effect. Marine scents (think salty sea air) can refresh us while spice and wood scents bring warm thoughts. The scent of something baking in the oven can also create a warm and nurturing feeling.  If you're going to bake cookies to make your house smell good while it is being shown - leaving a plate out to share with your prospects will surely make them feel welcome!  

Stay tuned....in my next post I will share how sellers can best engage the sense of hearing.

 

                                                          

 

Karen Bernetti is a Real Estate Stager, Former Realtor®, Author, Speaker, and Owner of Staging4Smooth Transitions - specializing in assisting seniors with their downsize moves.  

Karen is also the Co-creator of the Ready2Sellin30Days® System - an innovative, interactive, multi-media educational program designed to teach do-it-yourself homeowners EVERYTHING they need to know about preparing a home for sale during tough economic times.  Visit www.Ready2Sellin30Days.com to learn more. 

Stay up to date on all the latest real estate staging and home decor trends with The Home Sale Success with Karen & Ann Blog!  Sign up here to receive The Home Sale Success with Karen & Ann Newsletter!

Call 860-302-0333 for more information.

“We did not get the house!” I told my buyers

“We did not get the house!” I told my buyers. I was disappointed for them and to be honest, for myself, as well. You see this is the third house we have placed an offer on and the third house we did not get.

My buyers were not happy. We ended up in a competing offer situation and lost out. I told them, when we learned there was another offer, “Give your best offer, the one in which you say after all is said and done, I can live with not getting it because I left it all on the table.” Of the three houses, this is the one they did want. The other two would have been fine if the seller had sold it at the price my buyers were willing to pay. But not this one, they were truly disappointed.

Buyers of real estate in Lancaster, even when facing disappointment, do not lose hope in the process. Just be diligent in following the process:

• Get pre-approved.
• Find a good agent.
• Get serious about seeing houses and learn value.
• When you find a home you like, do not hesitate to place an offer.
• Rely upon your agent to determine a fair price.

When faced with the disappointment of not getting a home you like, “Learn from it.” Use an experience like this to motivate you and make realistic price offerings on homes you like.

 

 

 

An agent who places your interests as his first priority. 
Cal Yoder

Your Homes for Sale in Lancaster Agent

Keller Williams Realty Lancaster

1630 Manheim Pike

Lancaster, PA 17601

Office Phone: 717-735-1145

Cell Phone: 717-413-0744

                      

  

 

 

 

You can find great local Lititz, PA real estate information on Localism.com The Living in Lancaster Group - Cal Yoder            717.413.0744       is a proud member of the ActiveRain Real Estate Network, a free online community to help real estate professionals grow their business.

There is no “round to it” clause in a Real Estate Contract.

TIME is the essence of a real estate contract.

 

Dates  and deadlines are in place for the benefit of the buyer;  allowing the buyer ample time to apply for financing, inspect the property and the title documents, negotiate replacement or repair of any unsatisfactory items disclosed by an inspection, obtain and review an appraisal, survey and all loan conditions, among other things.  It can be a little overwhelming for some and it does require a bit of time.

 

Most buyers don’t mind these deadlines because they want to buy their new home.

They’re excited about it and they are making their plans, like:

What to pack and what to give away or sell

When they will close on their new home,

Where the furniture will go,

When to hire a moving van, or get all their friends together to help

When to schedule time off from work for the closing and moving

When to change their address

How to change their utilities over

What color of paint they will buy for their new bedroom

When they will register their children at their new school, EXCETTERA…

 

 

Deadlines are in place for the benefit of the seller; as we move through the process, they know if the buyers have any objections regarding inspections items, condition of title, appraisal...etc. As each objection date passes they are closer to closing

 

and They are making plans too, like:

What to pack and what to give away or sell

When they will close on their new home,

Where the furniture will go,

When to hire a moving van, or get all their friends together to help

When to schedule time off from work for the closing and moving

When to change their address

How to change their utilities over

What color of paint they will buy for their new bedroom

When they will register their children at their new school, ECETTERA…

 

 

Both Buyers AND Sellers are planning this new part of their lives.  Time is of the essence.

 

I, of all people do not like to be pushed, I don’t want to push clients, lenders or title companies into unreasonable time frames, either.   I like to allow enough time for everyone. 

 

Going through a real estate transaction isn’t always “relaxing”- there will be plenty of time to relax after the closing.

 

Neither a lackadaisical buyer nor a seller has the luxury of moving those deadlines into a timeframe of when they can “get around to it.”

 

It’s a detailed business with dates and deadlines. 

 

There is no ‘round tuit’ clause in the Real Estate Contract!

 

***************************************************************************************************

 

Mary Douglas, your Mountain Broker-Associate and REALTOR®

 

United Country Ponderosa Realty, Red Feather Lakes, CO

 

www.marydouglas-redfeatherlakes.net

 

800-531-2195

 

“A Day in the Mountains will always soothe your city soul”

 

I specialize in the Red Feather Lakes area, Crystal Lakes and Glacier View Meadows Subdivisions, if you are interested in buying or selling your mountain home, please give me a call, I’m here to help you.

 

The information contained in Mary’s blog is deemed reliable but is not guaranteed and the opinions and views expressed in these articles are solely those of the author.

 

 

 

 

Website: www.marydouglas-redfeatherlakes.net

 Dear Readers, who are not members of Active Rain. If this post does not accept outside comments, it is only to avoid unwanted spam -

Please feel free to email me any time, I appreciate hearing from you!

Would you like to know more about the Livermore/Red Feather Lakes area?  Want more exposure for your home or property?  More exposure for your business or event? Let me know, I'm always looking for blog topics and I love to showcase my listings on Active Rain!

Browse through all the Colorado listings or focus in on some wonderful mountain properties in Livermore or Red Feather Lakes!  

I'd appreciate the opportunity to work with you - Don't forget to ask for Mary!

                                

 Donate to the American Red Cross to help survivors of the recent Storms in the area of your choice.

    

There is no “round to it” clause in a Real Estate Contract.

TIME is the essence of a real estate contract.

 

Dates  and deadlines are in place for the benefit of the buyer;  allowing the buyer ample time to apply for financing, inspect the property and the title documents, negotiate replacement or repair of any unsatisfactory items disclosed by an inspection, obtain and review an appraisal, survey and all loan conditions, among other things.  It can be a little overwhelming for some and it does require a bit of time.

 

Most buyers don’t mind these deadlines because they want to buy their new home.

They’re excited about it and they are making their plans, like:

What to pack and what to give away or sell

When they will close on their new home,

Where the furniture will go,

When to hire a moving van, or get all their friends together to help

When to schedule time off from work for the closing and moving

When to change their address

How to change their utilities over

What color of paint they will buy for their new bedroom

When they will register their children at their new school, EXCETTERA…

 

 

Deadlines are in place for the benefit of the seller; as we move through the process, they know if the buyers have any objections regarding inspections items, condition of title, appraisal...etc. As each objection date passes they are closer to closing

 

and They are making plans too, like:

What to pack and what to give away or sell

When they will close on their new home,

Where the furniture will go,

When to hire a moving van, or get all their friends together to help

When to schedule time off from work for the closing and moving

When to change their address

How to change their utilities over

What color of paint they will buy for their new bedroom

When they will register their children at their new school, ECETTERA…

 

 

Both Buyers AND Sellers are planning this new part of their lives.  Time is of the essence.

 

I, of all people do not like to be pushed, I don’t want to push clients, lenders or title companies into unreasonable time frames, either.   I like to allow enough time for everyone. 

 

Going through a real estate transaction isn’t always “relaxing”- there will be plenty of time to relax after the closing.

 

Neither a lackadaisical buyer nor a seller has the luxury of moving those deadlines into a timeframe of when they can “get around to it.”

 

It’s a detailed business with dates and deadlines. 

 

There is no ‘round tuit’ clause in the Real Estate Contract!

 

***************************************************************************************************

Mary Douglas, your Mountain Broker-Associate and REALTOR®

United Country Ponderosa Realty, Red Feather Lakes, CO

www.marydouglas-redfeatherlakes.net

800-531-2195

“A Day in the Mountains will always soothe your city soul”

I specialize in the Red Feather Lakes area, Crystal Lakes and Glacier View Meadows Subdivisions, if you are interested in buying or selling your mountain home, please give me a call, I’m here to help you.

The information contained in Mary’s blog is deemed reliable but is not guaranteed and the opinions and views expressed in these articles are solely those of the author.

 

 

 

Website: www.marydouglas-redfeatherlakes.net

 Dear Readers, who are not members of Active Rain. If this post does not accept outside comments, it is only to avoid unwanted spam -

Please feel free to email me any time, I appreciate hearing from you!

Would you like to know more about the Livermore/Red Feather Lakes area?  Want more exposure for your home or property?  More exposure for your business or event? Let me know, I'm always looking for blog topics and I love to showcase my listings on Active Rain!

Browse through all the Colorado listings or focus in on some wonderful mountain properties in Livermore or Red Feather Lakes!  

I'd appreciate the opportunity to work with you - Don't forget to ask for Mary!

                                

 Donate to the American Red Cross to help survivors of the recent Storms in the area of your choice.

    

So often, more than seeing something flashed correctly, I see how not to flash a chimney, or a roof.

Roof tar does not flashing make!  Period.  It's great UNDER "stuff," like shingles, or vent covers, and when under it is long lasting.  But it is not intended to be installed (my word is "gooped") over "stuff!"

But it does inspire song!  Please, feel free to sing along.  It's best to bob your head too...

 

I SEE A RED CHIMNEY AND I WANT IT PAINTED BLACK,

 

NOT ONLY IN THE FRONT, BUT UNDER AND IN BACK!

I LIKE TO GOOP MY STUFF ON TOP OF EVERYWHERE...

GOOPING BUMPS AND CRACKS, ALL OVER, I DON'T CARE!

NAH, NAH, NAH, NAH, NAH, NAH, NAH,

 NAH, NAH, NAH, NAH, NAAAAAHHHH.

 

Well, you get the idea.

And just in case the gooping on the outside didn't do enough, there is always inside!

Thank goodness for the universal nature of poly foam -- the other white goop!

This poly foam is placed just under the edge of the roof line in that second photo.

Perfect!

My recommendation:  it can get frustrating, but never buy a home without a home inspection!  Many people would look at this and think it is okay!  IT IS NOT!  And a home inspector would know that.

I do have fun though.  And making up songs along the way doesn't hurt!

Jay Markanich Real Estate Inspections, LLC

Based in Bristow, serving all of Northern Virginia

www.jaymarinspect.com

Why Having a Sitemap is an Important SEO Tool

A Sitemap is a snapshot of all the pages on your website. It's a file or page on the site that compiles a list of URLs of every page, post or blog on your website. 

Why is this important? Several reasons actually. Human-wise it's a helpful page for readers to go to if they want to find a particular page without searching through other blogs, posts or your menu.  This is especially helpful for sites with blogs since the archives only give you dates, not articles or posts.

This is especially helpful for search engines to crawl your entire site quickly and efficiently. It's basically showing a list of all the pages the search engines should crawl in a standard format that's easy to read.

Sitemaps are one of the only pages in which having over 100 links on the page is a good idea.(Typically this is not a good idea and it's always smart to check the number of links you have per page - Google stops looking at the links at around 100)

An XML Sitemap is even better if you can add it. WordPress sites have plug-ins that allow for an automatic XML Sitemap and will add your posts every time you publish them without you manually adding them. This is also a great way to submit a sitemap to search engines for easy crawling. This is just the type of format that the Sitemap is written in and it is best done through Google's Webmaster Tools.

Do I need a Sitemap?

In most cases search engines learn about the pages of your site by following links that lead from one page to another. This may be enough but if your site contains many pages and those that lead from one link to another and another, search engines may not be able to find them all quickly.  Sitemap files enable you to resolve these problems.

How do I create a Sitemap?

You can create a page on your site and simply paste in every URL of your site in list type format. If you don't have an XML capability you can do a Sitemap like I have done here  - Better Homes and Gardens Las Vegas Sitemap. Or you can create the XML Sitemap by putting the file in the root catalog of the HTML server of your website with this type of URL structure: http://yourwebsite/sitemap.xml. There are many online resources available that will help you to create a sitemap file automatically.

 Google's Rules for creating a Sitemap

Having a Sitemap is a good idea for search engines and for eaiser crawling. Yes, letting your pages be found naturally is better but this is not a manipulative tactic but one that Google and others appreciate and find useful. If you're interested in creating one, take a look at the link above for more specifics on how to create one on your specific platform and the rules behind a good one.

 

 

 

Tammy Emineth is an expert in custom content and original articles for blogs, website, press releases and more. Contact me anytime and feel free to subscribe to this blog to stay up to date on my latest blogs and informative information. Email me or contact me for Real Estate Website Marketing and SEO Content Writing.

The information contained in this blog is believed to be true and correct and while every effort is made to assure that the information is as accurate as possible, the author of this blog, and its comments disclaim any implied warranty or representation about it's accuracy for any particular purpose. All information is copy written and the property of Tammy Emineth.  

 

All of my note taking during inspections is done by camera.  Very rarely do I ever write anything down.

I photo everything from data plates to just general reminder pictures that tell me what kinds of floors there are and what the driveway and roof is made of.

I have found that there is almost nothing I can’t create a record of photographically.  Sometimes I have to resort to “symbols” to designate what I want to be reminded of.  Like squeaks in the floor.  For this I simply photograph my voltage tick-tester lying on the floor and that is my reminder.

Sometimes though, it is difficult to photograph things that “move” that should not be moving.  A “still” photo will not necessarily remind me that the thing moves.  This is common with improperly supported gas lines or barrier railings.  For these kinds of items I typically will take a “still” photo and then a short video clip of the offending item.  Sometimes when I revisit these videos while writing the report I have to howl with delight as to how well the video conveys what the still photo had no clue of.  The video will work for “sounds” as well---how do you, after all, photograph a bathroom exhaust fan about to digest itself?

Here is a picture of a stair barrier railing from a recent inspection.  As you can see it is a good distance to the ground from the top landing.

 

As you can see from the still photo---it pretty much looks like a normal acceptable barrier.  It is perhaps not acceptable by current regulations but nonetheless adequate for its day.

Here is a 7 second video of the same stair barrier. 

It communicates the issue quite dramatically don’t you think? 

Charles Buell, Real Estate Inspections in Seattle

 

                                                               * * * * * * * * * * * * * * * * * * * * * * * * *

Click on the Rose to check out: AHA!---A Forum of Landmark Proportions---your Group

PS, for those of you that are new to my blog (or for some other "unexplained" reason have never noticed)all pictures and smiley-face inserts (emoticons) (when I use them) have messages that show up when you point at them with your cursor.

My WORDLESS WEDNESDAY pictures and some selected POEMS & STORIES.

 

   

 

Losing a home to foreclosure is a truly disheartening experience for too many homeowners these days in Lewiston-Auburn or Augusta Maine.  It’s an unfortunate outcome for many otherwise model citizens: typical hard-working adults who fall victim to circumstances which are sometimes simply beyond their ability to control. It can happen for any number of unforeseen reasons: illness, divorce, or simply the repercussions of the larger economic forces in Central Maine that cause a job loss or closure of a business enterprise.

Whatever the cause, when a foreclosure happens the immediate problem is “‘Where do I live now?” quickly followed by “How long will it be before I can buy a home?”

Our Central Maine and Southern Maine real estate offices at The Maine Real Estate Network are no strangers to this question; but the good news is that a foreclosure is an obstacle that can be overcome. The realistic news is that it will usually take time – and although ‘eventually’ is not a word that typically fosters optimism, it is one that describes “the way home”.  At The Tanya Busch Team, our goal is to build long-term relationships so we are always happy to provide assistance even if the outcome isn’t an immediate sale with us. So please don’t hesitate to contact us with your Maine real estate related questions!

To buy a home after a recent foreclosure you have three possible routes. The first is the shortest: it is appropriate only to those whose financial future is already strong, and who are willing to pay a high price. The risk that loan officers must attach to anyone with a foreclosure in their recent past is substantial, and to compensate for it, expect any proposed offer to combine a smaller mortgage (made possible by a more substantial down payment: possibly 20% or more) with a high interest rate.

For the vast majority of people, the second way to buy a home in Central Maine is the most common. It’s the one that involves substantial repair to your financial profile. The guidelines that mortgage officer’s follow are understandable: they read your financial history in order to predict the future: will you repay a new 30-year mortgage? Will your payments be late? To make sure the right answers are apparent, do the obvious: reestablish the kind of credit story that makes the foreclosure look like a one-of-a-kind bump on an otherwise smooth road.

Realistically, you will need to spend at least a couple of years saving money and paying bills. Two years at the same job in Maine with stable income is usually the minimum requirement for any lender. It is also of key importance that you make absolutely sure you do not miss payments of any kind.  Your FICO score will have suffered enough after a foreclosure (often 100 – 150 points). To demonstrate that you are fully capable of handling the substantial debt of a Maine home loan, you need to spend a convincing amount of time making consistent on-time payments for all your bills. In the meantime, you should expect to rent a home. The regular payment of that rent will be a key part of the story you will be demonstrating.

It is in this area that there exists a third possible pathway: the lease option. It is an additional wrinkle that can shave time from the gap between a foreclosure and buying a home. While not easy to find, if you come across this opportunity, it’s a good option to consider. A lease-option can be a handy way to get one foot back into the Central Maine home ownership arena while taking the time you need to rebuild your financial history.  With a lease-option, you sign a contract with a seller to buy a home at an agreed-upon price within a specified period. This can allow time to reestablish your financial footing as you get back to work, save some money, and pay bills. Since this is a binding legal contract, it is wise to seek the help of a real estate agent experienced in complex or creative solutions or a real estate attorney. Contact me if you would like to discuss this or have other questions about how to buy a Lewiston-Auburn or Augusta Maine home in the future.

 

Connect with The Tanya Busch Team online to get all of the latest insider information and news.

 

 

Tanya Busch                     Search 1000's of Maine Homes For Sale Here

The Tanya Busch Team

The Maine Real Estate Network

(207)689-9880

www.TanyaB.com

Baby Boomers Helping Their Children With The American Dream

Larry and Sheila, Realtors with Charles Rutenberg Realty are experiencing something here on Long Island that may be happening throughout the country. 

 

Some Baby Boomer's are now willing to provide financial support and are helping their children or grandchildren buy their first home or condo. 

 

They know that times are tough, and they want to make sure their family does not miss out on the opportunity to fulfill their dreams of home ownership. 

 

Whether it's the help with a down payment, giving money towards the purchase or buying it outright for them, the trend seems to be ongoing. 

 

Currently Larry and Sheila are working with a young school teacher whose parents are giving her the down payment for a co-op. We are also working with a couple who lost their jobs and are relocating back to Long Island and with the help of their parents, are buying a small house. Another first-time home buyer is moving from his parent's home. They are buying him a condo so he can finally be on his own. (Wonder whose benefiting more from this one!) 

 

According to a survey from Better Homes and Gardens Real Estate, "one in five baby boomer couples have already given at least one of their children the means to purchase a home, either buying it outright, furnishing the down payment or co-signing the loan".

 

Of course, this isn't the case for everyone. Times are tough and Baby Boomers are having difficult times also. However, we are seeing a nice segment who are able to help their children with the American Dream.

 

We are hearing from the Baby Boomer parents that they feel they are in a better position to buy a home for their children and feel that home ownership is still one of the best investments you can make ~ and who knows, these Baby Boomers may be looking to their families for assistance someday also!

The importance of owning a home goes much further than the economy as it is still all about supporting the American Dream.

So whether you're a Baby Boomer, First Time Home Buyer or Seller, Thinking About Selling Or Buying A Home On The North Shore Of Long Island...Do Contact Larry And Sheila At 631-805-4400

If you would like to purchase a home for your children on Long Island, or sell the one you are currently living in, please contact LARRY AND SHEILA to help you with your Real Estate goals at 631-805-4400.

 

http://www.suffolkexperts.com

 

Email: sheila@suffolkexperts.com

 

 

 

 

All content, including text, photographs and images, remains the exclusive property of Suffolk Experts.  Only with written permission of Larry & Sheila may anything be used by others. All information is believed to be accurate but is not guaranteed. Suffolk Experts and Larry & Sheila make no representations as to accuracy, completeness, correctness, suitability or validity of any information on this site and will not be liable for any errors, omissions, delays in information, any losses, injuries, or damages arising from its display or use.   

If you or anyone you know is considering to sell their existing home on The North Shore Of Long Island, or is purchasing their first home, dream home, step-up home, or retirement residence, we would appreciate the opportunity to serve them, and we can also recommend a relocation professional in the destination of choice outside our Long Island area!