Shirley's San Antonio Real Estate Blog

Buyers in this real estate market enjoy many more liberties and advantages with sellers than I have ever seen since I was first licensed in 1996. Not only do they have the lowest rates in half a century, they have far more bargaining power, and in Westchester County, where a starter home can cost $500,000, that is huge. It is a great time to be on the purchasing side. The one thing they don't get to do, however, is consider themselves exempt from reasonable scrutiny regarding their qualifications to buy. Simply put, I as the listing agent have to verify things, and no amount of annoyance or insistence to the contrary can change that. 

I have written previously how cash buyers simply have to show proof of funds if they want to be truly taken seriously. Today, I will reiterate that fact for buyers getting a mortgage. If you are going to submit a pre approval, or in today's case, a prequalification, it is part of my job to verify things, and that goes beyond your agent's "cross my heart" reassurances. It means in many cases calling the loan officer on the pre qualification letter and asking questions. Here are some that I would ask:

• Have you verified the borrower's credit?
• Have you verified income and employment? 
• Have you run  the borrower through your underwriting software (an industry standard)? 

Today, we had an offer where it was disclosed that they were in the process of selling their current home, it was submitted with a pre-qualification from a mortgage broker, not a direct lender, and the amount on the letter was less than the offer. My question to the buyer agent was shrugged off with a reassurance that all would be fine because they had extra money. Perhaps that is all true, but my job is to verify, not take assurances blindly. Like I said, in Westchester, with the competing number of homes for sale, real estate mistakes can be very expensive. Having a deal die can cost my clients tens of thousands of dollars. 

SO...I called the listing agent on the property they were selling (under contract, strong buyer) and I also spoke with the loan officer. I heard what I needed to hear from those I needed to speak with. Without getting into too many details, this did not sit well with the buyer, who actually called me directly. 

Sorry, but that is how it is today. I have to verify the qualification of buyers before I can advise my client to accept an offer. Spending months off the market under contract with a buyer who cannot close is not acceptable. Buyers are the belle of the ball now more than ever, but they don't get a mulligan on basic due diligence from the listing agent. It is my job to verify, and the notion that I am invading their privacy is fallacious. It is absolutely our business to ascertain that the buyer can perform. If I wanted to take some perverse pleasure in sticking my nose in someone's personal business, I'd watch reality TV. This is business, and should never be taken personally. 

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 Memorial Day 2011: Giving Back to a Veteran in Need

• We Are Westchester County & Metro New York Real Estate. Reach Phil at (914) 723-8900.
• J. Philip Faranda, Broker-owner, J. Philip Real Estate, LLC. Vice President, Empire Access Multiple Listing Service. 
• I am one of New York's premier short sale REALTORS, serving Westchester, the Hudson Valley & Metropolitan New York.
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If you want to honor September 11 by hanging the American flag by your front door, remember that there is a flag etiquette to respectfully display the American flag vertically as per the U.S. Flag Code (Public Law 94-344), a joint Congressional resolution.

(1) Make sure your flag must be displayed to its full extend, with no sag or wrinkles against your front door.

(2) Drape the flag over the front door. I used a clear tape to secure it from the inside.

(3) IMPORTANT: The Blue/ Stars portion (known as the Union side) must be at the top left corner of the door when you're facing the door.

 

Additional US Flag Handling Tips:

(1) The US Flag must be handled respectfully at all times.
(2) Do not sloppily display the US Flag. It is a sign of disrespect. If you choose to display the US flag, it must be done appropriately.
(3) When there is more than 1 flag to be displayed when compared to state, cities or local flag on the same halyard, the US Flag must be hoisted at the top before any other flags.
(4) When there is more than 1 flag to be displayed of different nations, the flags must be the same size, with not one bigger than any other. It must be on its separate staff, at the same height. International usage forbids one flag flown higher than another.

More Common Sense Tips:

• The US flag cannot touch the ground.
• The US Flag cannot and should not be used as a decoration.
• The US Flag cannot and should not be used as a table cover.
• When carrying the US flag, do not put other things on it.
• The US Flag should not be made as a clothing material.

 

Public Law 94-344 is known as the Federal Flag Code. It contains rules for handling and displaying the U.S. flag enacted on July 7th 1976.

 

 

 

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This information is provided to you by 3:16 team REALTY with a commitment to support the Frisco TX community.

3:16 team REALTY is a locally-owned Frisco TX real estate brokerage that serves buyers and sellers in and around the Frisco TX areas.

Super-serving Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper & North Dallas area communities.

 

3:16 team REALTY - Loreena Yeo, Realtor® in Frisco TX Pick up your phone & call today. (214) 783-2210 loreena(at)loreenayeo(dot)com

Check out some of the best values in Frisco TX Featured Homes of the week.
This list is monitored and updated frequently by Loreena Yeo - Realtor® in Frisco TX.

 

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Content & Photography Copyright © 2011 by Loreena Yeo (3:16 team REALTY)
How to Hang the American Flag Vertically

 

 

  

Posted by:  Ellie Penaranda - Naples FL Real Estate Blog

I love going to the beach every morning looking for shells and I am always hoping it is a slow market low tide, so I would have a big selection of shells to choose from and find my rare and elusive Alphabet Cone, Colorful Natica, or Paper Fig.  Ahead of me, I see someone bending down to pick something up.  My heart sinks and I am afraid that they got to my favorite shell before I did.  I walk over to the same pile of shells, my heart racing now, and behold here is my cone sitting there on the top for everyone to see.  When I was a newbie to shelling I would stop and wonder why that person before me did not pick this absolutely beautiful and rare find.  Now I jump with joy that it is not what they are looking for and it will be mine.   

You learn real quick that we are all different and not looking for the same thing.  We think the standard of beauty is the same, but like everything in life it is relative and depends on your personal needs, desires and tastes.  So why is it when a home buyer finds a property they like and its been there for a while, the first reaction they have, is "Why didn't anyone else buy it?  What's wrong with this house?"

Low tide means more shells  - Slow market means low prices and a wide selection of homes.

Since I live in Florida and go to our beaches (Barefoot Beach, Bonita Beach, Vanderbilt Beach, Delnor Wiggins State Park, Naples Beach & Pier) every day, I've become the expert.  I know which beaches have the sand dollars, I know exactly which spot I might find the Natica and can tell by the color of a pile of shells that there is a  shark tooth hidden there.  I don't waste my time just walking a beach area that does not have shells.  Same in real estate, I regularly preview homes every week - I know exactly where we will find the home you are looking for.

Looking in the area closest to the water for the new finds - looking in the old piles for the best finds.

At the beach I always spot something I want or have been looking for - and in real estate I have found the perfect home for my clients.

Every shell has its own markings - and in Naples no home is like another, even if it is the same neighborhood or the same model, it does not make it the same condition, same view, same upgrades or same sun exposure.

I've learned when I find it , to grab it.  

Yes there are more shells in the sea that will come on the market shore tomorrow, but today I can still find what I want, and maybe what comes tomorrow does not fit my collection's needs and just might not be as large, as colorful or in the same condition.  Now here is an advantage in home shopping over shelling, you can fix or repair a home and it will shine as new, but a broken shell can't be fixed.

Today the tide was very low and  I found some exceptional shells. . . . and today is a great day in real estate in Naples, with a wide selection of homes, the lowest prices in years, the most serious and realistic sellers we've had for a while and with interest rates attractively low to make it happen.  But like shelling, If I don't grab what I want, the tide will change on me before I know it.

As a real estate local expert I am always looking for the perfect income property for my investors, the best beach view for my 2nd home buyer, and the best amenities for my snowbirds - I know exactly where to go to find the right home.

If you are serious about buying a home in Naples, know what you want and like -  I know where to find it.

 

Search Homes for Sale in Naples, Florida

  Homes for Sale - High-end Short Sale Listings

Homes for Sale - High-end Bank Owned Listings         

  If you are considering a purchase or sale in the Naples area, it is important to be informed of the sales activity and price trends - the more you know the better equipped you will be to make the right choices.             Visit our website   www.StepsToTheBeach.com   for more specific community information or call me direct at 239-776-5077

  

Check our new website:  365ThingsToDoInNaplesFL.com

 

 

  Call or text me direct 239-776-5077 & Let's Get Started!

Downing Frye Realty -  ellie@stepstothebeach.com -  www.STEPSTOTHEBEACH.com

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WHAT REALTORS DO FOR BUYERS

Okay, here's the deal.  I'm gonna share my list with you of some of the services that we provide to our Buyers (I'll share my Seller list with you next week, so if you want to get it, be sure to subscribe to Mimi's Musings :) ~ yep - shameless plug).  I have not updated this list in years, and I'm sure a lot of things have changed.  So if you take the time to read through it, in the Comment section, please feel free to add or subtract things that we do that I may have missed, or that is new with new technology.  I will then update the list so that we all have as extensive a list as possible.

This list was a knee-jerk reaction of mine because an obnoxious young man said to me one day, "Well at least I have a REAL job . . . it's not like I drive around town all day talking on the telephone."  I never liked him before that day, and I certainly never liked him after that day, but he did get me to produce a list, so I guess he was of some use besides just being a waste of space.

I posted this list so that you may use it or copy it in any manner that you see fit . . . There is a post in conjunction with this that is a cover letter that I use when giving Buyers this list.  It can be found at Cover Letter to "What Realtors Do for Buyers" 

REALTOR^® SERVICES / TASKS INDEX

PRE SHOWING: Before we begin looking at potential homes, it is important that you contact a competent Lender to see how much home you will qualify for, and to make sure that your credit is acceptable for a home purchase - requirements are changing daily. You will receive a letter from the Lender (pre qualification) before we begin.

• Make appointment with Buyer to find Buyer's wants and needs in a home
• Have Buyer contact Lender and find out ability to get pre-approved for a loan
• Get pre-approval from Lender to begin showing houses (takes less than 30 minutes)
• Have Buyer access our website to begin looking at available homes
• Confirm time to meet with Buyer
• Prepare Agency Disclosure

MEET WITH BUYER: Then we meet with you to discuss your wants and needs in a home, understand your projected time frame in purchasing, logistics if you have a home that needs to be sold, and understanding Buyer Agency and all of its benefits. Realtor services are almost always free to you, the Buyer.

• Discuss our Company policy on Agency
• Discuss wants and needs in a home, price range, time frame, how motivated?
• Discuss areas in which Buyer would like to look
• Does Buyer have a home that must sell prior to purchase?
• Explain that it does not cost Buyer out-of-pocket to work with Realtor - Seller pays
• Not in Buyer's best interest to work with multiple agents - need an 'Advocate'
• Do computer research to find homes that meet Buyer parameters
• Set appointments to view several of these homes
• View homes and get a feeling for what does and doesn't appeal to Buyer
• Will show houses one day, then must decide on Buyer Agency
• Sign Buyer Agency Agreement

AFTER BUYER AGENCY SIGNED: Much goes into a computer search for properties that might fit your needs. I will preview homes electronically and physically and share them with you, contact my Realtor network, prepare showings, define and narrow list for what we will see, map route for viewing houses until we find something about which you are excited.

• Copies of all documents – give a set to Buyer
• Do another computer search and narrow or expand the field of possible homes
• Prepare showing inventory
• Preview homes by phone and physically, if necessary
• Call Realtor network to discuss our Buyer's needs and new listings
• Present Buyer 101 handbook to explain process and take notes of homes we are viewing
• Can see 1 or 100 homes - my job really starts after we find the home they like
• Check MLS for Matching Sellers
• Input Buyer into Outlook
• Contact unrepresented Sellers
• Map out location so that showings are systematic - allow plenty of time

AFTER BUYER FINDS A HOUSE THEY LIKE: Prepare a thorough Market Analysis to make sure value in the home is reasonable, call other Agent and pre-negotiate, get disclosures and thoroughly discuss all paperwork, possible offer, and pricing strategy based on professional judgment and market. Sign all paperwork and completed offer (Contract).

• Pull property City and tax records
• Pull old MLS listing, if applicable
• Order Owner & Encumbrance Report
• Research property's current use and zoning
• Research and verify legal description of property
• Pull comps on Active, Sold, Pending, Withdrawn, Expired, and Cancelled Listings
• Research "Average Days on Market" for property of this type and location
• Prepare Comparative Market Analysis
• Print Map of property and comps
• Pre-negotiate with other Agent before writing, if applicable
• Prepare Contract
• Receive all disclosures
• Discuss Contract with Buyer
• Sign Closing Instuctions
• Sign Seller's Property Disclosure
• Complete Lead-Based Paint Disclosure
• Complete Square Footage Disclosure
• Discuss Comparative Market Analysis
• Discuss offer and pricing strategy based on professional judgment and market
• Discuss availability of Home Owner's Warranty
• Get copies of leases, if applicable
• Ask for floor plan, upgrades, special features, detailed list of amenities

CONTRACT NEGOTIATIONS: Discuss your financial qualifications with other Agent, terms of offer, time frame of Seller, and any other details that might be important in writing an offer. Present offer, negotiate offer and possible counter offers, renegotiate to complete the Contract to your satisfaction.

• Discuss Buyer's financial qualifications, terms, and times
• Discuss exclusions, dates, etc. with other Agent
• Review Contract Addendum
• Evaluate offer and prepare a "Net Sheet" for Buyer
• Negotiate the offer and options
• Convey pre-qualification letter
• Sign offer or reevaluate offer, if necessary
• Prepare and convey any counteroffers, acceptances, or amendments
• Acceptance Deadline Time
• Renegotiate however many times necessary and finalize
• Receive signed Contract or Counterproposal
• Discuss options with Buyer; if accepted, go "Under Contract"
• Make applicable copies
• Convey signed copies to other Agent

AFTER CONTRACT SIGNED BY ALL PARTIES: We will deliver your earnest money and Contract to your Lender and Title Company to set the closing process in motion. Set up time for inspections, review and track all dates; get insurance; resolve any title disputes and matters of HOAs, verify that permits were pulled correctly on any upgrades, coordinate closing time and any special items needed.

• Copies of all documents - copies to Buyer
• Make copy of Earnest money and Contract
• Deliver check to other Agent
• Convey Contract to Mortgage Lender
• Convey Contract to Title Company
• Notate dates on calendar
• Send date sheet to Buyer
• Do necessary paperwork for unusual conditions
• If Seller and Buyer both our clients, do Change of Status Notice
• Copies of leases and damage deposit receipts, if applicable
• Track Seller's Property Disclosure Deadline
• Inspection Objection Deadline
• Resolution Deadline
• Property Insurance Objection Deadline
• Review all paperwork for signatures
• Get all necessary signatures
• If mail-out, get instructions and addresses
• Notify Title Company of Mail out
• If POA needed, get original from Title Company
• Get POA signed and notarized
• Remind Buyer to notify Utility Company to start service and do a "final read"
• Discuss what happens if other offers come in between Contract and Closing
• Is Buyer's current house on the market - resolve timing issues
• Resolve any Title Disputes
• Resolve any Off Record Matters
• Deliver unrecorded property information to Buyer
• Mail "The Moving Guide" with Change-of-address forms to Buyer
• Set up closing time
• Call Seller's Agent and coordinate closing time
• Verify closing date and time and make all parties aware
• Mail time-verification of closing and directions to Buyer
• Assist in solving any Title problems (boundary disputes, easements, etc.)
• Assist in obtaining Death Certificates, if applicable
• Cleaning needs (e.g. carpet, kitchen, etc.) upon move-out
• Discuss mover and time-frame for move-in with Buyer
• Receive list of completed repairs and maintenance items Seller has done
• Verify with Regional Building that appropriate permits were pulled
• Verify HOA fees and disclosures, if applicable
• Mail copy of Contract to Buyer - include MLS printout and projected Buyer Cost Sheet
• Call in HOW, if applicable
• Calculate average utility usage for last twelve months
• Return all phone calls - weekdays and weekends
• Add daily activities to Contact Management Software

HOME INSPECTION: At this point we will set and coordinate times with all parties to do your home inspections, meet with Inspector, review their report, search for repair estimates, and negotiate with Seller on any inspection objections. Prior to closing, verify that all items have been completed.

• Set up Inspection
• Coordinate time with Seller, Agents, Buyer, Inspector
• Review Notice of Unsatisfactory Conditions with Buyer
• Help Buyer negotiate Inspection Objections
• Help Buyer with repair estimates or a credit at closing
• Copy of Inspection Notice to file
• Verify prior to closing that all repairs have been made
• Get copies of repair receipts

THE APPRAISAL: The bank will assign an independent appraiser to appraise the property. We will coordinate time with all parties, I will do a market analysis and prep for value. Verify appraisal has been completed and note any conditions. Discuss options with you if appraisal is low, and schedule final inspection if there were any conditions.

• Set up appraisal
• Coordinate time with Seller, Agents, Buyer, Appraiser
• Do current CMA for appraiser
• Meet appraiser with CMA
• If VA, make sure CRV ordered and completed
• Track Appraisal Deadline
• Verify appraisal completed and satisfactory
• If appraisal low, discuss options with Buyer
• Discuss any conditions on appraisal with Buyer
• Schedule final inspection on appraisal conditions, if applicable
  
• Verify all conditions met prior to closing

TRACKING THE LOAN PROCESS: I will verify all of your information with your Lender. I will also verify that the processing of the loan is moving forward according to schedule, that the Lender has all of the information needed, and continue to keep track of loan and credit deadlines.

• All paperwork to Lender
• Make contact with Lender and verify Buyer information
• Loan Application Deadline
• Buyer's Credit Information Deadline
• Disapproval of Buyer's Credit Information Deadline
• Existing Loan Documents Deadline
• Existing Loan Documents Objection Deadline
• Loan Transfer Approval Deadline
• Contact Lender often to ensure processing of loan approval is on track
• Notify Buyer of loan approval
• Confirm that we are not liable for lender non-performance

IF CONTRACT FALLS: We will be upset for just a little while, and then we will begin the process again. We will need to fill out all of the paperwork necessary to get earnest money released. Then we return to After Buyer Agency Signed.

• Fill out all necessary paperwork
• Get Release of Earnest Money forms signed
• Get earnest money back for Buyer

CLOSING PREPARATIONS AND DUTIES: You and I will do a walk thru of the property, figure out the approximate amount you will need to bring to closing, confirm dates, mail outs, and POAs with our Closer. Verify property insurance, possession, financing details, and make sure Closer has all paperwork. I will verify closing figures. You will bring a Cashier's Check. We will have a good time.

• Schedule walk through with Buyer, Buyer's Agent, Seller
• Verify with Buyer approximate monetary amount needed
• If mail-out, verify correct mailing address
• Confirm mail-out with Closer
• Title Deadline
• Title Objection Deadline
• Survey Deadline
• Survey Objection Deadline
• Document Request Deadline
• CIC Documents Objection Deadline
• Off-Record Matters Deadline
• Off-Record Matters Objection Deadline
• Right of First Refusal Deadline
• Property Insurance Objection Deadline
• Coordinate Possession Date and Possession Time
• Prepare disbursement authorizations
• Notify Title Company of any Amend/Extends or date/money changes
• Last minute bills and receipts faxed to Closer including HOW, if applicable
• Make sure Closer has all addenda, correct price, rents, or applicable credits
• Discuss closing figures with Closer
• Check final figures for accuracy
• Call Buyer and discuss final figures
• Remind Buyer to bring picture ID
• Discuss Buyer's need for Cashier's Check
• Deal with all last-minute crises
• Check file for any unsigned documents
• Coordinate this closing with Buyer's sale and resolve timing issues
• Request HUD from Lender/Title Company at least 24 hours prior to closing
• Contact Buyer and review HUD
  
• Have a "no surprise" closing so that Buyer can obtain possession after closing (yeah, right :) )
  

POST SALE: Our office will scan and store your file, make sure that the real estate sign and lock box are removed, and make sure that you have a copy of the HUD-1 (closing document) for next year's tax return. You will now be faced with the daunting task of moving in. Congratulations! Wasn't that EASY?

• Enter sales data for County Records
• Scan entire file to disc
• Store hard file at outside location
• Copy HUD-1 and put in pre-addressed envelope
• Mail out disc of all paperwork to Buyer
• Mail out HUD-1 to Buyer the following year for taxes
• Gift to client
• Ask for referral

What Realtors Do for Buyers was written by Mimi Foster

 

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If you would like to Search for Homes in Colorado Springs, CO, or for any of your other real estate needs, please contact your Colorado Springs Realtor

 

 

                                                                     

   

Selling homes throughout Colorado Springs, Old Colorado City, Manitou Springs and surrounding areas with a Specialty in Victorian and Vintage Homes in
Downtown Colorado Springs

 

Is the market value of your Barrington house upside-down? Are you facing financial difficulties? Does it look like you could lose your home to foreclosure?

You’re not alone.

Crain’s Chicago Business recently reported that it takes banks nearly 500 days to process an Illinois foreclosure. This may give you nearly a year-and-a-half to sell your house as a Short Sale. But don’t get too complacent. A Short Sale can take 6 months or longer to process through your bank. Meanwhile, your bank could foreclose on your home in less than a year.

This gives you nearly a year-and-a-half to sell your house as a Short Sale.

The long and the short

Maybe you haven’t heard about Short Sales. Or maybe you have but also heard that they don’t work.

Untrue.

Short Sales are different from regular sales and must be handled in a different way. But when handled properly, they can close over 90% of the time.

Learn more about Short Sales here.

Short circuit

In the last 12 months, 40 foreclosed homes were sold in the Barrington.

40 homes lost by people just like you.

40 homeowners paralyzed by fear.

40 homes that could have been sold as Short Sales.

40 homeowners who could have moved on with their heads held high instead of tucking tail and moving out in the dead of night.

Data provided by the Midwest Real Estate LLC (MRED) multiple listing service and includes properties listed and sold by various participants in the MLS. Data supplied does not reflect all market activity in the area.

 

Taking the shortcut

Meanwhile, 43 homeowners decided to sell their homes as Short Sales. And succeeded!

If you let the bank to foreclose on your Barrington home, penalties could hound you for years to come —

• Your credit score could take a tumble of 250 or more points.
• Your foreclosure circumstance could stay on your credit report for up to 7 years.
• Your lender could go after you for their incurred losses.
• You probably won’t be able to buy a house, a car, or a refrigerator on credit for at least 3 to 7 years.
• You may jeopardize your employment status, particularly when it comes to financial or security positions.

 

Don’t sell yourself short

On the positive side, doing a Short Sale allows you to —

• Sell your house and start over
• Completely eliminate or substantially reduce your financial liability
• Minimize damage to your credit rating
• Recover from credit damage in months instead of years
• Purchase another house in as little as 2 years
• Protect your employment status, particularly when it comes to jobs involving security clearances or sensitive positions in investment or banking
• Look forward with a clear conscience instead of glancing back with worry and regret.

 

For more about Short Sales, visit ChicagoShortSales.com.

Want to find out if a Short Sale can work for you?
Call me — Judy Chapman — at 847.521.4111

I list and sell Short Sales all over Chicagoland!

 

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 JUDY CHAPMAN |What can I do for you?  

Residential Sales ∙ Short Sales ∙ Residential Rentals

Koenig & Strey | 1925 Cherry Lane | Northbrook, IL 60062

Judy@JudyChapman.net | Office: (847) 521-4111

             

© 2007-2011 www.activerain.com/blogs/NorthShoreChicago by Judy Chapman. ALL RIGHTS RESERVED. Portions of this content may be used with attribution. The information contained in this blog is the author’s own opinion and does not reflect the opinions of Koenig & Strey Real Living.