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June 18th, 2008

I Believe God Wants Me To Tell All In Real Estate

Posted in Real Estate Tips + More

After years of experience in the real estate industry I felt that God wanted me to write about everything in real estate. There were young people that were not being protected by anyone, including buyer’s agents. Once I did a VA appraisal on a house that was unbelievable in the amount of repairs. It was listed by one of the most dishonest agents I have ever met. We had words on numerous ocassions. When the appraisal was completed it was “subject to repairs” and it was a big list. I was at the house when the buyer showed up, then came his agent. They wanted to know if everything was alright. I told them a lot of repairs would have to be done to meet VA minimum property standards. The agent called his partner who quickly showed up with the crooked selling agent on the cell phone. Not only the listing agent but the “buyer’s agents argued with me. They wanted me to let it go so the young man could just get the house. He was about 23 years old, had just gotten out of the navy and was going to college.

A buyer’s agent is supposed to act in the best interest of their client. The seller’s agent is supposed to represent the seller but also act fairly, honestly and ethically with all parties.

I was writing up the report at the car when the young man approached me. He said the selling agent had agreed to do the repairs after closing if the purchaser would request a waiver of repairs. He kind of hunkered down a bit and said, “I don’t know what to do, no one is helping me”. I said, “trust me, don’t agree to anything, I know this agent and he won’t do anything”.

I was called out to that house approximately six times before the repairs were completed, which was typical for this agent. One time there was a very old man doing some heavy work. He kept stopping to catch his breath. I thought, boy this agent sure is a real piece of work. He cost the owner $450.00 in reinspections on top of the cost of repairs. At least the house was suitable by the time the young fellow went to closing. I hope all worked out well for him and that he learned a very valuable lesson for future dealings. I always try to do the right thing and have made some people angry in the process but the responsibility is there and I won’t cater to wrong doing just to quickly close another deal and another door on a victim.

A friend of mine sent the following email to me today. The subject was “Do you have time for God”. Please read it, parctice it and share it. Suzie

This is from Bill, A.K.A Please read this to the end, I think it will lift both your and my spirits.

Read only if you have time for God.

Let me tell you, make sure you read all the way to the bottom. I almost deleted this email but I was blessed when I got to the end.

God, when I received this e-mail, I thought…

I don’t have time for this… And, this is really inappropriate during work.

Then, I realized that this kind of thinking is… Exactly, what has caused a lot of the problems in our world today.

We try to keep God in church on Sunday morning…

Maybe, Sunday night…

And, the unlikely event of a midweek service.

We do like to have Him around during sickness…

And, of course, at funerals.

However, we don’t have time, or room, for Him during work or play…

Because.. That’s the part of our lives we think… we can, and should, handle on our own.

May God forgive me for ever thinking..

that.. there is a time or place where..

HE is not to be FIRST in my life.

We should always have time to remember all HE has done for us.

If, You aren’t ashamed to do this…

Please follow the directions.

Jesus said, “If you are ashamed of me, I will be ashamed of you before my Father.”

Not ashamed?

Pass this on ONLY IF YOU MEAN IT!!!!

Yes, I do Love God.

HE is my source of existence and Savior.

He keeps me functioning each and every day. Without Him, I will be nothing. But, with Christ, HE strengthens me. (Phil 4:13)

This is the simplest test

If You Love God… And, are not ashamed of all the marvelous things HE has done for you…

Send this to ten people and the person who sent it to you!

I don’t think I know 10 people who would admit they love Jesus. Do You love Him?

THE POEM

I knelt to pray but not for long, I had too much to do. I had to hurry and get to work for bills would soon be due. So I knelt and said a hurried prayer,

And jumped up off my knees.

My Christian duty was now done my soul could rest at ease.

All day long I had no time to spread a word of cheer. No time to speak of Christ to friends,

They’d laugh at me I’d fear.

No time, no time, too much to do, that was my constant cry, no time to give to souls in need but at last the time, the time to die.

I went before the Lord, I came, I stood with downcast eyes. For in his hands God held a book; it was the book of life.

God looked into his book and said “Your name I cannot find. I once was going to write it down…

But never found the time”

Now do you have the time to pass it on?

Make sure that you scroll through to the end.

Easy vs. Hard

Why is it so hard to tell the truth but yet so easy to tell a lie?

Why are we so sleepy in church but right when the sermon is over we suddenly wake up?

Why is it so hard to talk about God but yet so easy to talk about nasty stuff?

Why is it so boring to look at a Christian magazine, but yet so easy to look at a nasty one?

Why is it so easy to delete a Godly e- ma il, but yet we forward all of the nasty ones?

Why are the churches getting smaller but yet the bars and dance clubs are getting larger?

Do you give up? Think about it . Are you going to forward this, or delete it?

Just remember-God is watching you. Prayer Wheel-Let’s see the devil stop this one!

Here’s what the wheel is all about. When you receive this, say a prayer for the person that sent it to you….

That’s all you have to do…

There is nothing attached…..

This is so powerful….

Do not stop the wheel, please….

Of all the free gifts we may receive, prayer is the very best one….

There are no costs, but wonderful rewards… GOD BLESS!

May God keep you and bless you. If this doesn’t give you chills, nothing will…this message is very true. Hope you are all as blessed as I was from this story. I wonder how many people will delete this without reading it because of the title on it?

There once was a man named George Thomas, pastor in a small New England town. One Easter Sunday morning he came to the Church carrying a rusty, bent, old bird cage, and set it by the pulpit. Eyebrows were raised and, as if in response, Pastor Thomas began to speak…”I was walking through town yesterday when I saw a young boy coming toward me swinging this bird cage. On the bottom of the cage were three little wild birds, shivering with cold and fright. I stopped the lad and asked, “What you got there, son?” “Just some old birds,” came the reply.

“What are you gonna do with them?” I asked.

“Take ‘em home and have fun with ‘em,” he answered. “I’m gonna tease ‘em and pull out their feathers to make ‘em fight. I’m gonna have a real good time.”

“But you’ll get tired of those birds sooner or later. What will you do?”

“Oh, I got some cats,” said the little boy. “They like birds. I’ll take ‘em to them.”

The pastor was silent for a moment. “How much do you want for those birds, son?”

“Huh?? !!! Why, you don’t want them birds, mister. They’re just plain old field birds. They don’t sing. They ain’t even pretty!”

“How much?” the pastor asked again.

The boy sized up the pastor as if he were crazy and said, “$10?”

The pastor reached in his pocket and took out a ten dollar bill. He placed it in the boy’s hand. In a flash, the boy was gone.

The pastor picked up the cage and gently carried it to the end of the alley where there was a tree and a grassy spot Setting the cage down, he opened the door, and by softly tapping the bars persuaded the birds out, setting them free.

Well, that explained the empty bird cage on the pulpit, and then the pastor began to tell this story.

One day Satan and Jesus were having a conversation. Satan had just come from the Garden of Eden, and he was gloating and boasting. “Yes, sir, I just caught the world full of people down there. Set me a trap, used bait I knew they couldn’t resist. Got ‘em all!”

“What are you going to do with them?” Jesus asked.

Satan replied, “Oh, I’m gonna have fun! I’m gonna teach them how to marry and divorce each other, how to hate and abuse each other, how to drink and smoke and curse. I’m gonna teach them how to invent guns and bombs and kill each other. I’m really gonna have fun!”

“And what will you do when you get done with them?” Jesus asked.

“Oh, I’ll kill ‘em,” Satan glared proudly. “How much do you want for them?” Jesus asked

“Oh, you don’t want those people. They ain’t no good. Why, you’ll take them and they’ll just hate you. They’ll spit on you, curse you and kill you. You don’t want those people!!”

“How much?” He asked again.

Satan looked at Jesus and sneered, “All your blood, tears and your life.”

Jesus said, “DONE!”

Then He paid the price.

The pastor picked up the cage he opened the door and he walked from the pulpit.

Notes: Isn’t it funny how simple it is for people to trash God and then wonder why the world’s going to hell.

Isn’t it funny how someone can say “I believe in God” but still follow Satan (who, by the way, also “believes” in God).

Isn’t it funny how you can send a thousand jokes through e-mail and they spread like wildfire, but when you start sending messages regarding the Lord, people think twice about sharing?

Isn’t it funny how when you go to forward this message, you will not send it to many on your address list because you’re not sure what they believe, or what they will think of you for sending it to them.

Isn’t it funny how I can be more worried about what other people think of me than what God thinks of me.

I pray, for everyone who sends this to their entire address book, they will be blessed by God in a way special for them.

And send it back to the person who sent it, to let them know indeed it was sent out to many more.

Have a good day, and may GOD bless and keep you.

Bill

Suzie is a licensed real estate broker, a certified residential appraiser and an expert author with over twenty years of experience. Other professionals in the field have contributed as well.
http://www.freewebs.com/realestatenews

June 13th, 2008

Buying A Home - Zoning and Architectural Review Board Restrictions

Posted in Real Estate Tips + More

When you buy a home, you need to be aware of the various things that can limit your control over the property. This is as true for finished lots and single family homes as it is for townhouses, condos, and apartments. It’s a good idea to understand these limitations before you buy, so that you can decide whether you’re willing to live with them or not. After you buy, it’s too late; you’re stuck.

Zoning

In most jurisdictions, zoning limits how a piece of property can be used. There are many variations of residential zoning. In some, no business activity is permitted. Some allow business activity but no signs. In some, no commercial vehicles can be parked regularly.

Some residential zones permit only a single dwelling per quarter acre, per acre or per ten acres. Most limit the owner’s ability to subdivide land. Some allow only single family dwellings while others allow high rise apartments. Still others allow apartments, but limit the height of apartment buildings. Many do not allow mobile homes.

Some jurisdictions have “overlay districts” in addition to zoning. These are common in areas with many older buildings and a community desire to preserve them. Additions to homes of this type are obviously restricted, but restrictions regarding the location, style, height, and even whether they’re allowed at all or not, also applies to fences, sheds, walks, gates, and similar ancillary structures.

Fredericksburg, Virginia has a forty block “historic district.” Residents of this area must follow normal zoning rules. However, they must also submit an application to the Architectural Review Board for any changes to the visible exterior of their homes. This can be a surprise for some new homeowners in the area.

You can find detailed information about zoning, overlay districts and the like fairly easily. Simply visit the courthouse for the county in which the property is located or ask your real estate professionals for assistance.

Raynor James is with www.fsboamerica.org - providing homes for sale by owner, “FSBO”, properties. Are you thinking, “Should I sell my home?” Visit www.fsboamerica.org/seller.cfm to sell your home sale for free for one month.

May 25th, 2008

BPO Interior Inspection Insights

Posted in Real Estate Tips + More

Conducting an interior inspection with the borrowers present can
be tricky and time consuming. This report is for you to be able
to learn from my experiences, and help you to provide a
professional inspection.

Before arriving at your inspection, pull the tax record and any
previous listing information, this way you can have an idea if
there have been many or few changes since the last purchase.

Once you arrive at the subject address-take any exterior photos
that you need. Promote a professional appearance and provide a
business card upon introducing yourself. It is sometimes a scary
event for people to let strangers into their house. By providing
as professional an appearance as possible, you will help to put
their feelings to rest.

Ask your homeowner to give you a tour-this way they can identify
the changes that they have made to the property. In each room,
ask them what they have done since the last purchase or finance.
“Is this carpet original to the house?” “Did you convert the
garage into a family room, or was this done before you moved
in?” Be sure to do the same for the exterior-have they
re-landscaped? Is the deck new? Did they add the fence? What
about a sprinkler system?

Many homeowners will spend time proudly showing their home. If
the home owner is a “Chatty Cathy” I have found it useful to
refer back to an inspection check list in order to keep the
inspection moving along.

Remember, you are not a structural inspector, no need to be
going under the house and into the unfinished attic.

I have encountered many things in our inspections and they make
for great dinner table conversation. One of my favorites was the
house that had Liebe and Stafanos, the two family dogs that were
long since deceased! They were stuffed into their hunting poses
and very large. The homeowners reminded me that these would not
be included in the sale of the house and to be sure to take out
their value in determining a price!

I have arrived to tea set at the table, with cookies and fine
china, and to housewives exclaiming that they haven’t had time
to clean, so look out for the diapers on the living room floor.
Interior inspections are a part of our business; they can also
be an adventure-so be safe and have a good sense of humor!

May 24th, 2008

Canada v. USA

Posted in Real Estate Tips + More

First and foremost let me state here and now for the record, that Canada is flexing its military muscle once again. It seems that the nuclear sub - I forgot the name but there is no mistaking it … Canada has only one, bought second hand from Britain - that had to be de-commissioned because it was leaking underwater, is now going to be re-commissioned. Apparently the leak has been fixed. Alright, now that we can sit at the table on even footings, let me go straight to the point.

A caveat must be made here to the extent that the purpose of this Article is not to compare real estate markets but, rather, to compare economic environments. It is next to impossible to compare real estate markets since, as experienced investors no doubt already know, real estate markets are far too many and too varied to render any comparison at all meaningful.

A recent report prepared for and on behalf of none other than The Bank of Nova Scotia and released in February reveals, among other things, that the 2005 Household Debt to Income indicator measured as a percentage of disposable income is 13.8 percent in the United States (and rising), and 7.7 percent in Canada (and falling). The Household Debt to Income indicator, also known as ‘debt service ratio’ is very important, in that it measures the ratio of the mortgage payments to disposable income. Clearly the lower the indicator the lower the incidence of service debt on disposable income, and the higher the cash reserves. When the ratio gets too high, households become increasingly dependent on rising property values to service their debt.

The Household Debt to Income indicator, therefore, is nothing more than a measuring gauge of property owners’ wealth. The above figures just released merely reflect the fact that Canadian property owners keep the yield they receive from their real estate investments, contrary to their American counterparts. This is so because the financial leverage of each country is different. Financial leverage takes the form of borrowing money and reinvesting it with the hope to earn a greater rate of return than the cost of interest. Leverage allows greater potential return to the investor than otherwise would have been available. But conversely, the potential for loss is greater because if the investment becomes worthless, not only is that money lost but the loan still needs to be repaid.

Because real capital appreciation has been constantly more remarked in Canada than in the United States these past few years, it turns out that leverage is stronger in Canada than in the U.S., meaning the spread between real capital appreciation and cost of borrowing is higher in Canada. And this notwithstanding the fact that mortgage rates in Canada are typically nominally higher than in the States and that, in fact, wages in Canada are typically nominally lower.

Household Debt to Income influences another economic indicator important for real estate investing: the Household Debt to Equity Ratio, also known as ‘loan to value’. This is the ratio of the mortgage debt to the value of the underlying property and it increases when homeowners refinance and tap into their home equity through a second mortgage or home equity loan. According to the report of The Bank of Nova Scotia, the 2005 Household Debt to Equity Ratio is 73 percent for Canada (and rising) and 53 percent for the United States (and falling). It is easier to understand loan to value by looking at things in reverse. A 73 percent ratio simply means that the cost of borrowing is the difference between 100 percent of total value of the real asset minus the owner’s equity - in the case of Canada 100 - 73 = 27 percent. Hence, average cost of borrowing in Canada expressed as a percentage of disposable income was 27 percent in 2005 as opposed to a whopping 47 percent in the United States.

As stated before, this ratio increases when homeowners refinance and tap into their home equity through a second mortgage or home equity loan. Which, therefore, again goes a long way to point out what American property owners do with their equity - they spend it, in contrast with Canadian property owners who instead save it.

This brings into light the real essence of the difference between investing in an environment such as the American as opposed to the Canadian. The American economy is based on consumption and gives priority to consumerism, that is spending as opposed to saving. As such, Americans typically earn higher wages, at times make even a higher capital appreciation but ultimately end up spending more and saving less. Canada, on the other hand, gives precedent to saving, so that Canadians are cash and equity richer, even in the instances when they actually make less money. Which, at the end of the day, makes Canada a much more stable environment when it comes to investing. This goes further to explain why the American economy is far more susceptible to interest rates variations: with a domestic debt load nearly double, the economic ripples caused by shifts in cost of lending travel twice as far in the U.S. than in Canada.

A fact, this, that is reflected in the weakness of the Greenback vis–vis the Loonie. The Canadian Dollar has steadily gained value, according to the report, rising from a low of USD $0.62 in 2002 to USD $0.86 in 2005 and thus making the purchase of American real property assets more affordable for Canadians. Which is no good news to American mortgagors, since an increased international demand for the Greenback will cause a rise in domestic interest rates and, in turn, a higher Household Debt to Equity Ratio which will lead to an even higher Household Debt to Income indicator.

Luigi Frascati

Luigi Frascati - EzineArticles Expert Author

Luigi Frascati is a Real Estate Agent based in Vancouver, British Columbia. He holds a Bachelor Degree in Economics and maintains a weblog entitled the Real Estate Chronicle at http://wwwrealestatechronicle.blogspot.com where you can find the full collection of his articles. Luigi is associated with the Sutton Group, the largest real estate organization in Canada, and is based with Sutton-Centre Realty in Burnaby, BC.

Luigi is very proud to be an EzineArticles Platinum Expert Author. Your rating at the footer of this Article is very much appreciated. Thank you.

April 29th, 2008

Buy a House With Poor Credit - 3 Tips on Getting Approved for a Bad Credit Mortgage

Posted in Real Estate Tips + More

Buying a house is in reach for those with poor credit histories. Even
with bad credit, you can secure a mortgage with reasonable rates and
terms. Before you assume you have a low credit score, check your credit
report. If you do have adverse credit, plan on getting the best rates
possible by following these three tips.

1. Up Your Down Payment

Besides your credit report, your down payment will greatly affect the
rates you qualify for. In some cases, it’s possible to qualify for
conventional rates with a large enough down payment.

If you have an especially low score due to a recent bankruptcy or
foreclosure in the last year, you may be required to put down 50% of the
home’s value. It is possible to get a mortgage with no cash down, but your
rates will be much higher.

2. Be Flexible With Your Terms

Your loan’s terms can also vary rates within a point or two. Adjustable
rate mortgages will start out about a point less than fixed rate
mortgages. This will also help you qualify for a larger mortgage. But you may
find your rates and payments increase in the future with an ARM.

The shorter your home loan, the lower your rates. You will also save
thousands in interest cost simply by having a shorter loan.

Some lenders have additional discounts for automatic payments. You also
have the option of buying down rates, which can be a real savings if
you keep your loan for several years.

3. Take Time To Compare Lending Offers

Taking the time to compare lending offers is the surest way to save
money on your mortgage. A difference as little as an eighth of a point
will save you thousands on interest. So just like you spend hours
searching for just the right house, so you should spend time researching
lenders.

With online financing companies, you can quickly gather information to
make your mortgage decision. Mortgage broker sites can get you multiple
loan estimates in minutes. You can also get loan quotes through
individual lender sites without hurting your credit score.

View our recommended lenders for
Bad Credit Mortgage loans.

Carrie Reeder owns ABC Loan Guide, an online resource with information about Mortgage Refinancing
Online and Home Equity Line
of Credit lenders.

April 24th, 2008

2ND Mortgage Loan - What You Need to Know

Posted in Real Estate Tips + More

A 2nd mortgage is popular method of borrowing a lump sum against the value of your home. Here are the basics of this type of home equity loan.

A home equity loan or second mortgage is an additional loan secured by your home. The second mortgage is considered “subordinate” to your primary mortgage; if you default on either loan the 1st mortgage will be paid off by the sale of your home. Any remaining proceeds from the sale will be applied to the second mortgage.

Second mortgages typically come with higher interest rates because there is more risk for the lender. You may be required to pay closing costs and points in order to qualify for the loan.

Second mortgages are paid in a lump sum and generally come with fixed interest rates. This fixed interest rate is an advantage over a home equity line of credit which comes with a variable interest rate.

A second mortgage may be a good idea for homeowners needing a specific sum of money. The added security of a fixed interest rate makes this option more attractive than a home equity line of credit in many cases. To learn more about your home equity options and how to avoid costly mistakes, register for a free mortgage guidebook.

Louie Latour - EzineArticles Expert Author

To get your free mortgage guidebook visit RefiAdvisor.com using the link below.

Louie Latour is a mortgage professional and the owner of RefiAdvisor.com, a mortgage resource site offering a free gift for homeowners: “Mortgage Refinancing - What You Need to Know.” This guidebook helps homeowners avoid common mortgage mistakes and predatory lending practices.

Claim your free guidebook today at: http://www.refiadvisor.com

Minneapolis Mortgage Refinance

April 16th, 2008

Fix Your Mortgage - Set Mortgage Payments, Reduce Stress

Posted in Real Estate Tips + More

There’s no doubt that for most of us, a home is the biggest purchase we’ll ever make. If it wasn’t for mortgages, there’s no way most of us would ever be able to afford a home.

Despite that, the mortgage can be an enormous source of stress and aggravation. Disputes over money are one of the most common causes of marital breakdown. If you’ve chosen an adjustable (variable) rate mortgage, an increase in interest rates can make your repayments quickly rise to a level where you just can’t afford it any longer.

In that situation, not only do you have to deal with the stress of trying to make the mortgage repayment each month, you also have the fear of losing your family home mixed in. For some people they live with that possibility on a day-to-day basis. No wonder marriages suffer as a result.

If you’re worried that a few interest rate rises will make it impossible for you to make your repayments, then maybe it’s worth considering a fixed rate home loan. With a fixed rate loan, you are locked in with a set interest rate for either a set period (say 5 years) or the entire period of the loan. This can give you great peace of mind, because although your repayments may start off a little higher, you have the certainty of always knowing what the repayment will be, and can budget accordingly.

Fixed rates can work in a couple of different ways. One is to set the loan as a fixed rate loan for the entire period of the loan. The only problem with this is that you may have a loan that last 25 years, but you need to sell up and move elsewhere either for work or lifestyle long before the 25 year period is over. Many fixed rate loans have quite hefty break costs, which may make the process of moving a lot more stressful than it needs to be.

Another option is to fix the rate for a set period, say 5 years. This works well for a lot of people, as the average time in a house is 5-7 years. So it’s possible that in 5 years time you’ll be getting close to moving anyway. It’s also quite often the case that after 5 years, mum may have returned to work after having a couple of children, improving your financial situation to the point where you may want to investigate other loan options.

A further option is to take an interest only loan, with a fixed rate of interest, with a balloon payment. This can reduce your monthly payments enormously, which can be very helpful in a time of transition, such as the early years of starting a family. The disadvantage is that you pay little or nothing off the loan in that time. Also, if you want to remain in your home at the end of the interest only period, you will need to organise another loan to continue on.

There’s no doubt that having a fixed mortgage payment each month can make life much easier. You can budget for all the usual household bills, confident that your mortgage payment won’t change. Yes, it’s quite possible that over the term of the loan you may well end up paying more than if you’d chosen an adjustable rate mortgage, but sometimes money isn’t the only thing that’s worth something - peace of mind and a reduction in stress is definitely worth something too.

To read more helpful articles about choosing the best home loan, check out Home Loan Zone Central

April 7th, 2008

Why use a Fast House Buyer when Selling your Home?

Posted in Real Estate Tips + More

There are many reasons why people are now selling their properties to companies which buy homes for cash.

Firstly if they decide to sell by this method they are in control of the sale of their home and therefore are not reliant on Estate Agents to make that all important sale for them.

Secondly, by using this method of selling their property they are provided with some privacy as there will being no “for sale” boards outside the house and not having to deal with the endless viewings that the Estate Agent sets up. Plus these companies provide them with complete confidentiality when buying the property.

Another advantage to selling a property by this method is that people are able to decide upon a moving date which is agreeable to them rather than to the purchaser and sometimes you will find that these companies will purchase a property because the seller has to sell (say due to a divorce, need to relocate quickly etc) and allow them some concession on the time period for when they leave the property.

Also many of these companies are willing to purchase all sorts of properties and will even consider a property that is in need of some renovation.

The next point people should consider when thinking of selling their home by this method is that they may well be in a situation where they wish to break a property chain rather than waiting to find the right purchaser for their home as they have already found the property that they want to buy. It has been found that being in a property chain can be quite stressful especially if people are having to do everything within a certain timescale (i.e., needing to relocate because of work commitments etc., or because they are likely to lose the property that they wish to buy).

These companies offer you the chance to sell your property in a quick and efficient timescale and will provide you with a competitive price for your property. Also by selling your property by this method you will find that you will save on having to pay Estate Agent, Survey and Legal Fees.

Finally, such companies will normally be able to provide you with a offer for you property within 24 hours of viewing it.

If you should require any further information or have any questions please go to http://www.fasthousebuyers.co.uk.

Author: Allison Thompson with 15 years experience in the property market.

Allison Thompson, now lives in Spain and has 15 years experience in the property field.