Archive for August, 2009
5 Recommendations for Navigating Today’s Mortgage and Housing Markets
RISMEDIA, May 9, 2009-”There are five distinct strategies that can help home owners, buyers, and sellers successfully navigate today’s turbulent mortgage and housing markets,” said Gibran Nicholas, chairman of the CMPS Institute, an organization that certifies mortgage bankers and brokers.
1. Understand and Utilize the New Tax Credits
2. Consider Paying Points for Your Mortgage Transaction
3. Carefully Structure Your Real Estate Short Sale Transaction
4. Utilize the Special Options Available for Seniors Age 62 or Older.
5. Carefully Interview Your Mortgage Professional.
Front Gate Properties, We’re selling the BEST Real Estate in Aiken, SC.
Rethinking the Open House
RISMEDIA, It’s a familiar weekend scene in American neighborhoods, the ubiquitous Open House; three signs, a flag and one seriously bored agent watching Rachel Ray reruns in the family room.
It is apparent from the Open Houses I have visited that many agents don’t know why they are there. Many are newer to the business, more on that in a moment. But, in all likelihood, the home they have selected is not their listing.
Their behavior toward me suggests that they believe that someone is actually going to walk through the door and buy the house, and with that view of their mission, it is no wonder that they come to view Open Houses as a waste of time.
The true purpose of an Open House is neither to sell the home nor to “pick-up” a ripe buyer. Nor, is it to placate the seller. The purpose of an Open House is to build listing dominance in the neighborhood surrounding the home. And, you will get potential buyers just as you would if you had aimed at them.
Select the right community.
If you do business in a region where there is reasonably priced new or newer construction, you might want to consider focusing there. Depending on the age of the homes, there may have been few, if any resales, and no other agent or brand will have established dominance. Full story
Front Gate Properties, We’re selling the BEST Real Estate in Aiken, SC.
Strategies to Help Homeowners Maximize Real Estate Value and Sales Price
RISMEDIA, March 4, 2009-For home owners contemplating selling their homes in the current market, Relocation.com, a leading online consumer resource for moving services, offers several tips to help sellers maximize the final sale price, get the home sold quickly and move on to their new home. While many factors come into play with finding the right buyer at the right time, there are many things sellers can do to help put the odds in their favor.
“Despite the tough economic times, people who want to sell their homes don’t have to wave a white flag in surrender. Relocation.com wants to help educate consumers about the selling process so that they can make smart decisions about moving to a new home,” said Sharon (Ron) Asher, chairman and founder, Relocation.com. “With these sales strategies, consumers can get their homes sold and on to moving into their new residences.”
Tips for Selling a Home in Today’s Market
1. Do not overprice the home.
2. Select Internet-friendly pricing
3. List the home on a Friday
4. Occupy or stage the home.
5. Monitor local foreclosures
6. Keep the home neat and clean.
7. Keep records.
Front Gate Properties, We’re selling the BEST Real Estate in Aiken, SC.
Best Home Improvements To Make In A Recession
Installing energy-saving technologies is a great way to save money on homeowner costs.
The days of undertaking quick-fix remodels to sell a home more quickly and for more money are long gone. Now, with loans hard to come by and home sales slow, remodeling is all about projects that save you money in the long term and pay you cash up front.
Believe it or not, the federal government is more than willing to help–to the tune of thousands in tax credits. But this isn’t about redoing your kitchen; it’s about energy independence.
In a recession, there’s nothing better than padding your wallet whenever you can, so reducing energy costs makes natural sense. A serious commitment to this idea does have significant upfront costs, but it can save thousands in the long run.
Front Gate Properties, We’re selling the BEST Real Estate in Aiken, SC.
Home Buyer Beware – 3 Little-Known Moving Scams
RISMEDIA, June 30, 2009-With millions of Americans moving this summer-the busiest part of the moving season-it bears repeating: beware of unscrupulous moving companies. Relocation.com, the leading online consumer resource for moving services, identified some of the less familiar tricks to avoid and offers guidelines to prevent getting taken.
“The majority of moving companies are solid, trustworthy companies. But like any product or service you buy, it’s the handful of bad ones that should keep consumers on their toes,” says Sharon (Ron) Asher, chairman and founder of Relocation.com. “Our goal at Relocation.com is to help people have an easy, stress-free move, and part of that is helping them be aware of any issues they might face when dealing with moving companies.”
The standard warnings apply: don’t accept a “low-ball” estimate, make sure the moving company is licensed, check Better Business Bureau (BBB) reports and reviews, and insist on an in-home moving estimate.
1. The “Guaranteed” Moving Quote.
2. Packing Pratfalls
3. The Move Size
Front Gate Properties, We’re selling the BEST Real Estate in Aiken, SC.
Get up close and personal with the animal kingdom
Have you held an alligator, touched a snake’s scales or petted an opossum before?
Savannah River Ecology Laboratory will host their first Touch an Animal Day on Saturday, Aug. 8 from 9 a.m. to noon at the University of Georgia-SREL Conference Center on Highway 278.
The community is invited to get up close and touch a variety of animals including reptiles, amphibians and mammals. Scientists will be on hand to teach and give interesting facts about the animals.
“The event will give everyone the opportunity to touch the animals,” said Jennifer Gibbons, SREL public relations specialist. “All throughout the year we give talks and there are so many children that not everyone gets to touch the animals. The number one question asked is ‘Can we touch it?’ This event will give everyone the opportunity.”
Touch an Animal Day is a drop-in event and is open to the public. There is no charge, although donations to assist in animal care and conservation efforts are welcome.
“Touch an Animal day also allows parents to come along and see what the SREL Outreach is all about,” said Gibbons.
The SREL Outreach program offers community programs and safety talks year round. These dynamic talks include a variety of animals and captivate audiences. On Saturday, a variety of snake and turtle species as well as alligators will be available for touching. In addition lizards, frogs and salamanders will be available for viewing.
The day also features the opportunity to watch a demonstration on how outreach ecologists handle venomous snakes and conduct research on them.
For more information regarding Touch an Animal Day, contact Jennifer Gibbons at (803) 725-0056 or jgibbons@srel.edu.
What? Touch an Animal Day
When? Aug. 8 from 9 a.m. until noon
Where? University of Georgia-SREL Conference Center on Highway 278
Cost? Free
Front Gate Properties, we’re selling the BEST real estate in Aiken SC.
Tips for Freshening Up Your Home with Fabrics
RISMEDIA, July 7, 2009-(MCT)-The quickest way to freshen a piece of furniture and lift the spirits is through fabric. I feel years younger – and so does my dining room – now that I’ve re-covered the seats of chairs I inherited from my great-grandfather. The shield-back style of the chairs is classic; the upholstery featuring a frumpy fruit pattern definitely was not.
So I found some hip fabric (a gray cotton with a modern graphic print), took an upholstery stapler et voila! A whole new look for the dining room in less than two hours for about $40.
“Shouldn’t you take the chairs to a professional upholsterer?” a dubious friend asked before I started my DIY project. For a sofa or even a whole chair, yes. But for a few seat cushions, no. It’s so easy and more affordable to do it yourself. (Check below for step-by-step instructions from Betsy Blodgett, owner of Bon Bon Atelier in Kansas City, Mo.)
Fabrics are a way to set the mood of the room. Want sophistication in the bathroom? Create a tall fabric shower curtain that hangs from a rod close to the ceiling. It makes the room feel larger, too.
Room by Room: Other fresh fabric projects
Dining Room: Use outdoor fabrics to make tablecloths and banquette cushions. They are easy to bleach and clean.
Family Room: Create a junior ottoman by stacking three 26-inch boxed pillows that can also be floor pillows for television viewing.
Bedroom: Make a modern canopy by hanging bed drapery panels on swing-arm rods at each side of the bed.
Bathroom: Cover a wastebasket with a decorative fabric using spray adhesive. Add gimp or braid trim with a glue gun to hide the edges.
Closet: Upholster the walls and ceiling of a tiny closet using Mod Podge as an adhesive.
Front Gate Properties, We’re selling the BEST Real Estate in Aiken, SC.
Ten New Tax Breaks for Homeowners
Congress’ inclusion of home energy incentives in the $787 billion stimulus plan it passed in February has a steady stream of customers heading to Manhattan’s Green Depot, a nationwide chain that carries environmentally friendly and sustainable housewares such as LED light bulbs and cork flooring. Most popular? Solar products, says Brian Tereza, the store’s general manager.
That could be because as part of the plan, buyers of solar water systems are eligible for a 30% tax credit for the initial purchase and installation cost. That’s good news; systems often run between $6,000 and $10,000. The credit is available through 2016, a sizable window to cash in on the benefits of lower-cost energy, and is available to those who use the solar system to heat their home’s water, not that of hot tubs or pools. Full story.
Front Gate Properties, We’re selling the BEST Real Estate in Aiken, SC.
Home Sellers become More Realistic on Home Prices
Home Sellers become More Realistic on Home Prices while Realtors Express Greater Optimism about Housing Market
RISMEDIA, May 23, 2009-HomeGain, one of the first websites to provide free instant home values, announced the results of an extensive nationwide survey on home prices based on the responses of over 1,150 Realtors.
The survey shows that 36% of homeowners think their homes should be listed 10 to 20% higher than what their Realtors’ recommend, down from 45% in the first quarter.
Conversely, 64% of homebuyers think that homes are overpriced versus 59% who believed the same in the first quarter.
“Realtors are in a unique position as they get to hear both sides of the home price story – the buyers’ and the sellers’. They then apply their own home valuation analysis based on their understanding of the market which often meets resistance from buyers and sellers,” said Louis Cammarosano, General Manager of HomeGain. “The results of our second quarter Realtor home prices survey indicates that home sellers seem to be getting the message that perhaps their homes are not worth as much as they thought they were, while buyers are expecting to find a bargain on every corner.”
The Realtors surveyed expressed more optimism in the second quarter survey on the direction of home prices than in the first quarter, with 22% of them believing that home values will increase in the next six months versus 11% who believed the same in the first quarter. Twenty-nine percent of survey respondents believe that home prices will fall in the next six months versus 53% who believed the same in the first quarter survey.
Front Gate Properties, We’re selling the BEST Real Estate in Aiken, SC.
5 Pro Tips Designed to Help You Move
RISMEDIA, June 16, 2009-(MCT)-How hard is it to move all your worldly possessions from one home to the next? So hard that even Clive Pearse of HGTV can get it wrong.
“I’m a bit of a hoarder, and-spectacularly-when I moved from England in 1997, I packed up an entire house of rubbish and brought it with me across the Atlantic,” says Pearse, who hosts “Designed To Sell.”
“I should have got rid of it and saved money.”
Also in the bad news column: “The average American will move 12 times in a lifetime. A lot of people feel like they’ve moved 12 times after doing it once.”
But enough with the doom and gloom! Our favorite trans-Atlantic trash-hauler is here with five ways to lighten your load, both literally and figuratively. Or, as he puts it, “A man gives tips after he’s learned the hard way, huh?” Hey, whatever works.
1. Don’t move it if you don’t want it
2. Packing material at your disposal
3. Surf for techno help.
4. Moving advice for your possessions
5. Start with a list.
Front Gate Properties, We’re selling the BEST Real Estate in Aiken, SC.
Best And Worst Home Improvements
Before you install that custom wine cellar or bamboo flooring, it’s wise to make sure such upgrades won’t leave you in the red long-term. Fancy features such as these might not seem so essential to a buyer with different tastes.
Rather, in a market slump, sellers whose properties have the right add-ons get the highest rate of return on their investment, allowing them to move their homes faster and for more money than their neighbors.
“It’s about keeping up with the Joneses, but not exceeding them by too much,” says Alan Hummel, chief appraiser of Minneapolis-based Forsythe Appraisals and former president of the Appraisal Institute, a membership organization of professional real estate appraisers. “If something isn’t up to the standards of other houses in the neighborhood, investing in improvements will bring a big return. If it’s already at that level, spending more may help you sell your home faster, but it won’t have a high rate of return.”
That means that if your kitchen cabinets and appliances lag behind those of the guy next door, an investment of $40,000 to update the room completely will likely be made back and then some when it comes time to sell. But the same investment on a kitchen already at or above those in the neighborhood will have diminishing returns with each extra dollar you spend.
Front Gate Properties, We’re selling the BEST Real Estate in Aiken, SC.
Putting the ‘short’ back in short sale
Tips on how to make process go smoother
Lately, homebuyers are seeing more and more short-sale opportunities, but it seems as if fewer purchases are actually being completed. The perception in this case is correct. The short-sale process has become a nightmare: it goes on forever, sometimes never coming to a satisfactory conclusion even after months of effort.
All I can say is, “Hang in there, folks, help is on the way.”
According to industry sources, the playing field will soon begin to make more sense to buyers as servicers (the folks who actually handle your loan) will either move at-risk loans to special servicers that are experienced in this field and/or set parameters ahead of bids.
According to industry sources, the playing field will soon begin to make more sense to buyers as servicers (the folks who actually handle your loan) will either move at-risk loans to special servicers that are experienced in this field and/or set parameters ahead of bids. Full Story..
Front Gate Properties, We’re selling the BEST Real Estate in Aiken, SC.
Evening Market proves to be a hit.
Thursday evening at the Aiken County Farmers Market has been going well, according to local vendor Elbert Holston, who is best known for his watermelons and cantaloupes.
Other vendors agree with Holston that the Thursday night experiment has turned into a great success, giving customers another chance to purchase the same fresh fruits, vegetables, nuts, spices and sauces from local farmers.
Since the start on May 28, Thursdays have become almost like Saturdays, Hollie Gartman said. She stocks the same produce as she does on any other day and said her stand typically sells out by the end of the night.
Although the market officially opens at 4 p.m., Gartman said she has eager shoppers at her stand ready to shop around 2:30 p.m. as she is setting up.
A woman who goes by “The Pepper Lady” from the Hillview Farm Stand agrees. “Everything is good on Thursdays, but it depends on the weather,” she said.
The Hillview Farm stand is well-known for its peppers, selling a variety from red and green bell peppers to habaneros, jalapenos and chili peppers. The stand is also known for its white eggplant, which is carried only on Thursdays and Saturdays.
“Thursday has been working really well for people,” Sandra Corper said.
Her son, Jamie, works the stand Thursday night, and their peaches have been their biggest draw.
The Thursday evening market is open from 4 to 7 p.m. and is located on Williamsburg Street, between Park and Richland avenues.
Front Gate Properties, We’re selling the BEST Real Estate in Aiken, SC.
Luring First-time Buyers – 5 Tips to Beat the Competition, Sell Your Home
RISMEDIA, June 19, 2009-(MCT)-A federal tax credit of up to $8,000 is nudging many Americans into buying a home for the first time, good news for those trying to sell one.
Still, selling a home isn’t easy in most markets today. To get the typical first-time buyer to bite and submit an offer, a house has to stand apart from the competition – and there’s a lot of it, including foreclosure homes that are selling at hefty discounts.
One big thing working in favor of the traditional seller: A lived-in, maintained home is easier for buyers to imagine themselves living in than a vacant foreclosure. That has great appeal for someone buying a home for the first time, for practical and financial reasons.
“First-time buyers are skeptical of buying homes that need improvement. Sellers certainly don’t need to remodel the kitchen, but they want to make sure that their home showcases very well,” said Eric Mangan, a spokesman for ForSaleByOwner.com. Full Story..
Front Gate Properties, We’re selling the BEST Real Estate in Aiken, SC.
Zillow Debuts ‘True Cost’ Mortgage Calculator
Zillow.com has introduced a “true cost” calculation service that it says allows borrowers to determine how much they will pay in interest and fees over the period they plan to live in the home.
Borrowers can see how much they will pay in total interest and fees for various loan quotes from potential lenders over a five, 10, or 20-year period. Zillow also displays the principal as an additional number to consider, because it will grow at varying rates depending on loan program.
“Truly shopping for a loan and comparing terms and costs on an apples-to-apples basis is excruciatingly difficult for the average consumer to do,” Zillow President Lloyd Frink says. “This is why so many consumers find themselves in loans they don’t understand.”
Source: Zillow.com
Front Gate Properties, We’re selling the BEST Real Estate in Aiken, SC.
Avoiding mortgage rip-offs
Consumer Mortgage Audit Center Reveals the 5 Most Common Mortgage Violations
RISMEDIA, July 17, 2009-Ninety-eight percent of all mortgages are potentially eligible to be renegotiated due to Truth in Lending Act violations according to a review of thousands of mortgage documents undertaken by the Consumer Mortgage Audit Center (CMAC). The vast majority of the violations tend to take the form of missing paperwork, bad “good-faith” estimates, hidden and misrepresented payments, double-dipping brokers, and the lack of documentation of income for borrowers.
“Every day, the Consumer Mortgage Audit Center conducts comprehensive audits of mortgage documentation, and every day we find egregious and occasionally intentional mortgage violations,” said Sylvia Alayon, vice president of operations for CMAC. “While not all mortgage violations are necessarily malicious acts on the part of financial institutions, there are some basic areas every consumer should look at before signing a mortgage.”
Front Gate Properties, We’re selling the BEST Real Estate in Aiken, SC.
Fed Urges More Rules for Mortgage Applicants
The Federal Reserve on Thursday recommended new disclosure rules for home owners that would make the process of getting a home mortgage more understandable.
Mortgage applicants would receive a single-page explanation of key issues concerning their loan and see a graph comparing the interest rate they were being offered to that given a low-risk borrower, the Fed said.
The Fed also recommended new compensation guidelines for mortgage brokers. Under the new rules, brokers would not receive more money for putting a borrower into a high-cost loan.
“Consumers need the proper tools to determine whether a particular mortgage loans is appropriate for their circumstances,” Fed Chairman Ben Bernanke told an open meeting of the Fed.
Source: The Associated Press, Jeannine Aversa
Front Gate Properties, We’re selling the BEST Real Estate in Aiken, SC.
Countrywide Offers Help to Former Customers
Bank of America, which acquired Countrywide Financial Corp., one of the most active of the subprime lenders, has begun issuing checks to its borrowers who are eligible for foreclosure assistance under an agreement with attorneys general in 40 states.
Borrowers most likely to be eligible for assistance must have experienced a foreclosure, short sale, or deed-in-lieu of foreclosure after taking out a Countrywide mortgage.
Rust Consulting, a third-party administrator, is managing the program, and notifying and paying eligible customers.
Source: Reuters News, Steve Eder
Front Gate Properties, We’re selling the BEST Real Estate in Aiken, SC.