An open letter to Joe the PLUMBER...or CARPENTER...of God forbid, Joe the ELECTRICIAN:

 

Let me begin by telling you that I think you have a lovely home

You have done much to increase its value since you purchased it so many years ago. I especially admire the work you did when you finished the basement, added the powder room and expanded the kitchen. You have an excellent eye for detail and really know what today's buyers want in their next home! There's only 1 problem...

you never got permits for the work you did.

 

Now please understand

...I know that you know what you're doing. The work looks pretty good to me. And trust me...I've been in a lot of homes! The problem is that nobody else knows how good you are! And our town enforces their building codes for one simple reason...to keep everybody safe. I understand that it was a pain in the butt to pull permits for a job that you could knock out in a weekend or two. Who needs the extra hassle? Besides... you probably do know more than that part time inspector does, right?! But here's the rub- my buyer doesn't know as much about this stuff as you do. They have 2 small kids and worry all the time about keeping them safe. The thought of moving into a house where the plumbing and electrical work wasn't properly inspected really scares them.

So let me tell you how I work.

When my buyers find a house that they like enough to place an offer on, I go to the town municipal office. It doesn't take that much time, really. I stop by the Tax Assessor's office and pull the property card. It's public information, so they let me see it. I can even copy it for 50 cents if I want to (which I always do for my files). The card shows me how many bedrooms, baths and finished rooms the town thinks you have. It tells me whether the basement is finished or unfinished. Sometimes, I can even find out how many people your septic system is designed to handle. Then I compare what the card says to what I saw when I showed your home to my buyers. If everything is the same, we're good! But sometimes... well sometimes, there are discrepancies. Then I have to go to the office that handles building permits. If I see things in the home that aren't accounted for on the property card, I find out if the proper permits were obtained and closed. You'd be surprised how many times they weren't.

So here's the deal.

My buyers really love your house...and they really want to buy it! But they need to know that they can sleep in it without being afraid. So you're going to need to get this permit thing resolved before closing. You'll need to have the town inspectors come out and check things over. They might need to open up the walls, pull apart the plumbing and even pull out some of the wiring. But they'll probably realize that you did really good work, so everything should be OK, right? I apologize for the inconvenience that this causes...but I have a fiduciary responsibility to my buyers to protect them through my diligence. Since all of this permit stuff is public information, I need to take the extra step and get it for my buyers. If I don't, I worry that I could be found liable in court if something really bad happened. And I hear that my negligence could even create a triple damages award. YIKES... I don't think my E&O would cover that!

Yes Joe, you're right

...you could probably tell us to take a hike and move on to the next buyer. But we live in a full disclosure state. Since I told you and your broker about the discrepancies I found, you're both now aware. That means that you're both going to be responsible for informing the next buyer that all this work was done without permits...or you'll be the ones on the hook. That would probably jam up your marketing plan, and we'd hate feel responsible for it.

It's probably best to get this handled with us still at the table, wouldn't you agree?

 

So please Joe

...don't just tell me that you did the work properly. Show me by getting the proper permits. My buyers are counting on me to find out...

and I'm going to check!

Ant control

If you locate a nest, you can remove it with a vacuum cleaner, then dispose of the bag outdoors. Unfortunately, you can't always find the nest or nests. If this is the case, control is indirect. Place insecticides very carefully, to form chemical barriers that foraging ants must cross in their search for food.

The ant then contaminates its body with the insecticide and carries it back to the nest, where other ant stages are poisoned. Slow-acting, persistent insecticides are best suited for this approach.

Insecticidal dusts often are used between walls (in wall voids), in attics, and in other areas where water-based sprays might cause moisture problems and where emulsifiable sprays (with strong solvents) might harm fabric, wallpaper, or tile. Treat the line where your foundation meets the soil. Treat it inside, if you can reach it through a crawl space; treat it outside, along the walls and entries.

How to prevent infestation

A tightly constructed house with concrete foundation, good clearance, and a full basement with good ventilation is least subject to infestation.

• Remove logs, stumps, and waste wood near and under the house.
• Destroy all known colonies of carpenter ants within 100 yards or so of the house.
• Do not bring fuel wood infested with carpenter ants into the house.
• Do not build over stumps, logs, or sizeable pieces of wood.
• Check for signs of ants annually since presently registered insecticides do not offer long-term protection. A structure may be reinfested.

Use insecticides safely!

• Read the manufacturer's label carefully and follow the instructions.
• Avoid contaminating food.
• Do not use household sprays near an open flame.
• If household emulsifiable sprays get on asphalt tile floors, wipe up immediately.
• Store all insecticides out of reach of children and pets.
• Empty insecticide containers completely. Rinse empty containers and use rinse water in spraying.
  

This is an update to my previous post about the proposed $15,000 tax credit for home buyer. The outline of the latest $8,000 tax credit is far from the proposed $15,000. However, it is enhanced from the previous $7,500 tax credit that Congress enacted in July 2008.

The following points are based on National Association of Home Builder web site: http://www.federalhousingtaxcredit.com/2009/home2.html

Please visit the link above for detail information.

Here are the key differences
1. $8,000 tax credit does not need to be repaid.
2. The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009.

The new $8,000 tax credit is similar to the $7,500 tax credit enacted in July 2008:
1. Only FIRST TIME HOME BUYERS are eligible for $8,000 tax credit.
2. Income restriction: Single taxpayers with incomes up to $75,000 and married couples with income up to $150,000 qualify for the full tax credit.
3. The tax credit is equal to 10% of the home's purchase price up to a maximum of $8,000.

ITS A FANTASTIC TIME TO BUY A HOME!

A new sales assistant was hired at a large department store. On his first day, the sales manager took him around to show him the ropes. They were passing by the gardening section, when they heard a customer asking for grass seed. The sales manager stepped in.
Sales manager: Excuse me, but will you be needing a hose to water your lawn?
Customer : I guess so. I'll take one.
Sales manager: And how about some fertilizer and weed-killer?
Customer : Um, okay.
Sales manager: Here's a couple of bags. You'll also need a lawn mower to cut the grass when it starts growing too long.
Customer : I'll take one of those too.

After the customer left, the sales manager turned to the assistant. "You see?" he said, "that's the way to make a good sale. Always sell more than what the customer originally came in for."

Impressed, the assistant headed off for the pharmaceutical section, where he was to work. Soon, a man strolled in.
Man: I'd like to buy a pack of Tampax, please.
Sales assistant: Sure, and would you like to buy a lawn mower too?
Man: Why would I want to do that?
Sales assistant: Well, your weekend's shot to heck anyway, so you might as well mow the lawn.

IF You Were Born on April 7th, Check this Out!

7 April 1967

Your date of conception was on or about 15 July 1966 which was a Friday.

You were born on a Friday
under the astrological sign Aries.
Your Life path number is 7.

Your fortune cookie reads:
You will spend old age in comfort and material wealth.

Life Path Compatibility:
You are most compatible with those with the Life Path numbers 1, 5 & 7.
You should get along well with those with the Life Path numbers 4 & 22.
You may or may not get along well with those with the Life Path number 9.
You are least compatible with those with the Life Path numbers 2, 3, 6, 8 & 11.

The Julian calendar date of your birth is 2439587.5.
The golden number for 1967 is 11.
The epact number for 1967 is 19.
The year 1967 was not a leap year.

Your birthday falls into the Chinese year beginning 2/9/1967 and ending 1/29/1968.
You were born in the Chinese year of the Goat.

Your Native American Zodiac sign is Hawk; your plant is Dandelion.

You were born in the Egyptian month of Paony, the second month of the season of Shomu (Harvest).

Your date of birth on the Hebrew calendar is 26 AdarII 5727.
Or if you were born after sundown then the date is 27 AdarII 5727.

The Mayan Calendar long count date of your birthday is 12.17.13.11.3 which is
12 baktun 17 katun 13 tun 11 uinal 3 kin

The Hijra (Islamic Calendar) date of your birth is Friday, 26 Dhi'l-Hijjih 1386 (1386-12-26).

The date of Easter on your birth year was Sunday, 26 March 1967.
The date of Orthodox Easter on your birth year was Sunday, 30 April 1967.
The date of Ash Wednesday (the first day of Lent) on your birth year was Wednesday 8 February 1967.
The date of Whitsun (Pentecost Sunday) in the year of your birth was Sunday 14 May 1967.
The date of Whisuntide in the year of your birth was Sunday 21 May 1967.
The date of Rosh Hashanah in the year of your birth was Thursday, 5 October 1967.
The date of Passover in the year of your birth was Tuesday, 25 April 1967.
The date of Mardi Gras on your birth year was Tuesday 7 February 1967.
 
As of 3/6/2009 1:13:27 AM EST
You are 41 years old.
You are 503 months old.
You are 2,187 weeks old.
You are 15,309 days old.
You are 367,417 hours old.
You are 22,045,033 minutes old.
You are 1,322,702,007 seconds old.

Celebrities who share your birthday:

Russell Crowe (1964)	Jackie Chan (1954)	Janis Ian (1951)
Francis Coppola (1939)	David Frost (1939)	Wayne Rogers (1933)
James Garner (1928)	Ravi Shankar (1920)	Billie Holiday (1915)
Walter Winchell (1897)

Top songs of 1967

To Sir with Love by Lulu	Daydream Believer by Monkees
Windy by Association	Ode to Billie Joe by Bobbie Gentry
Somethin' Stupid by Nancy & Frank Sinatra	Groovin' by Young Rascals
The Letter by Box Tops	Light My Fire by Doors
Happy Together by Turtles	Hello Goodbye by Beatles

Your age is the equivalent of a dog that is 5.99178082191781 years old. (You're still chasing cats!)

Your lucky day is Tuesday.
Your lucky number is 9.
Your ruling planet(s) is Mars & Pluto.
Your lucky dates are 9th, 18th, 27th.
Your opposition sign is Libra.
Your opposition number(s) is 6.

Today is not one of your lucky days!

There are 32 days till your next birthday
on which your cake will have 42 candles.

Those 42 candles produce 42 BTUs,
or 10,584 calories of heat (that's only 10.5840 food Calories!) .
You can boil 4.80 US ounces of water with that many candles.  

In 1967 there were approximately 3.7 million births in the US.
In 1967 the US population was approximately 179,323,175 people, 50.6 persons per square mile.
In 1967 in the US there were approximately 1,800,000 marriages (9.3%) and 479,000 divorces (2.5%)
In 1967 in the US there were approximately 1,712,000 deaths (9.5 per 1000)
In the US a new person is born approximately every 8 seconds.
In the US one person dies approximately every 12 seconds.

In 1967 the population of Australia was approximately 11,912,253.
In 1967 there were approximately 229,296 births in Australia.
In 1967 in Australia there were approximately 100,000 marriages and 9,688 divorces.
In 1967 in Australia there were approximately 102,703 deaths.


Your birthstone is Diamond

The Mystical properties of Diamond

Diamonds are said to increase personal clarity to help one see things clearly as well as be straight-forward and honest. Supposedly, the higher quality the diamond, the better it is supports these qualities.

Some lists consider these stones to be your birthstone. (Birthstone lists come from Jewelers, Tibet, Ayurvedic Indian medicine, and other sources)

Opal, Quartz, White Sapphire

Your birth tree is

Rowan, the Sensitivity

Full of charm, cheerful, gifted, without egoism, likes to draw attention, loves life, motion, unrest and even complications, is both dependent and independent, good taste, artistic, passionate, emotional, good company, does not forgive.

There are 294 days till Christmas 2009!
There are 307 days till Orthodox Christmas!

The moon's phase on the day you were
born was waning crescent.

Make it Faster!

 

If you are like me then you probably spend quite a bit of time online. Whether it is working on your website, spending time blogging, or possibly doing some social networking at Twitter, Facebook, or Linkedin. I don't know about you but I am not a patient person. When my computer starts to get bogged down I want to SCREAM!!!

I am sure there are other out there like me so I am going to offer you a few tips on how to keep your machine running smoothly.

There are many that think it is time for a new computer when their PC starts to crawl. Most of the time you don't need to run out and buy a new computer.

Feel free to print this out and use the tips the next time you want your computer to run a little bit quicker.

Add Additional RAM

The one thing that you are probably lacking is what is know as RAM. RAM is the memory of what your computer uses to store data and programs that you are currently using. The more programs you add to your PC over time the slower it is going to get. Adding additional RAM is much cheaper than buying a new computer. The cost will depend on how much you need but it is relatively inexpensive. You can get RAM by taking it to any local computer store. I would recommend wherever you bought your machine.

Delete Unused Files

Deleting the "temporary" Internet files, Internet history, and cookies will speed up your performance. Here is how you do it: On the task bar of your computer click "Tools". Scroll down and select "Internet Options". From there you can easily select what you would like to delete.

Unused programs will take up a lot of your RAM. There is no need to have programs on your computer if you never use them. Some machines come with programs installed on them that you may not even realize you have. There are probably other programs that you may have installed at one point and don't use anymore as well. To delete the programs you are not using, click "Start" then click on the "Control Panel", Find the icon that says "Add or remove programs" and click on it. Scroll down to the program that you know you don't use and hit delete. Your computer will tell you how to complete this task.

De-fragment Your Hard Drive

This one is one of my favorites as it can make a big difference if you have not done it in a while or ever? The more programs you add to your computer, the more space is taken up. These programs align themselves in blocks. When one of them is deleted it leaves what is called a "white or blank space". When you have enough of these spaces it causes your machine to take a longer path to complete a task. By De-fragmenting you create a cleaner path which speeds up the performance. Here is how you De-frag your computer: Double click your "My Computer" icon then right click on the "C-Drive" option. Click on "Properties", "Tools" and then "De-fragment". Once you do this your computer will "De-frag" itself. Depending on how long it has been since you did this last it could take a while. Trust me this is well worth the wait!

Have a Spam filter, Anti-virus, & Spyware protection

This one probably goes without saying. You want to make certain you have protection from online threats. Not only will these programs slow down your computer or completely shut it down but they can also steel your vital information!

________________________________________________________________________

Remove Any Unused Programs

What carpenter ants do

Carpenter ants commonly tunnel in building timbers. With a longstanding infestation, damage may require extensive repairs. Usually, only minor repairs are needed. If you find the infestations soon enough, all that may be needed is to get rid of the ants. New colonies are established either by a lone queen or by migration of an existing colony. The latter is common in houses. Colonies disturbed by the clearing and grading of building sites often migrate. Houses near woods are most likely to become infested.

Usually, carpenter ants enter a house through openings around the foundations. They seem to prefer moist, rotting timbers, but they will readily mine sound, dry wood any place in a house. Ants may enter through plumbing or wiring access points, or they may travel into the structure from trees hanging over the roof.

Among the commonly mined portions are porch pillars and supporting timbers, sills, girders, joists, studs, and casings. The ants often establish colonies in masses of fir needles or other refuse within walls, under floors, in attics, and in other undisturbed places.

Carpenter ants are destructive in several other ways. They occasionally damage telephone poles. They damage boxes and other wood products in storage. By mining in the heartwood of living cedar trees, they cause much of the "wormy" lumber that must be discarded. Similarly, they mine and weaken orchard and ornamental trees. They girdle and kill young conifers in forest plantations. By tending aphids for honeydew, they encourage these garden or ornamental pests.

Besides being destructive, carpenter ants in houses are a nuisance, crawling over things, getting into food, and periodically swarming in the living quarters.

Carpenter ants mine building timbers, causing serious damage if they're unchecked.

 

 

There is no better Real Estate Investment deal than that of a motivated seller. We all want to find those motivated sellers. Those property owners who simply need to make a deal with an investor in order to unload their burden of a problem property.

The first thing we must do as a Real Estate Professional is understand what makes a seller motivated. What makes a seller so motivated that they are willing to make any deal possible in an effort to unload their problem property.

Here are some of the circumstances that make a motivated seller.

1. They desperately need to sell their property because of financial circumstances. The loss of a job, the death of a loved one etc... Something happened that changed their financial situation.

2. They are in an Adjustable Rate Mortgage and can no longer afford the payments.

3. They are in pre foreclosure and need to sell their property to avoid an inevitable foreclosure.

Your success as a Real Estate Investor or Wholesaler depends on your ability to distinguish between a motivated seller and a non motivated seller. You will never convince a non-motivated seller to turn into a motivated seller. You will be wasting valuable time trying to transform a seller who does not have current circumstances to make them motivated enough to make a deal.

 

Evidence of a motivated seller depends on the answer to two basic questions.

1. Would you sell your house for what you owe on it?
2. Would you let me buy your house by taking over the payments?

If the seller answers yes to these questions they are truly motivated and you should be able to lock in a great deal with owner financing "subject to".

If the sellers answer is no to these questions then they are evidently not motivated and you will be wasting valuable time trying to negotiate. Move on until you find that motivated seller that is willing to negotiate a great investment deal.

 

Short Sales

 

 

When you request a short sale from the bank, the will request a great deal of personal information to be submitted along with the offer the purchase, cma, authorization letter, and listing agreement. This is because the bank wants to know that you actually qualify for their short sale program. Here is an example of some of the items that you will need to send in the package.

Financial Information

Last 3 checking account statements for all borrowers

Last 3 savings account statements for all borrowers

Last 2 years of W2's for all borrowers

Income tax returns from the past 2 years for all borrowers

Last 3 paycheck stubs for all borrowers

IRS Form 4506

Self Employed: Profit and Loss statement

Credit Report - Get one actually for free from www.annualcreditreport.com

Summary of all monthly reoccurring debts for all borrowers. This will be used to compile a financial worksheet. Items to consider:

Auto loans

Alimony / Child support

All credit card bills

Electric bills

Gas bills

Water / Sewer bills

Heating fuel

Home telephone bills

Cell phone bills

Cable bills

Auto insurance

Health insurance

Life insurance

Doctor bills

Dentist bills

Pharmaceutical drug bills

Food / Groceries

Gasoline (auto)

Student Loans / Tuition

Other Loans

Other reoccurring bills

Hardship Information

 

 

A hardship letter that describes succinctly yet persuasively why you are now unable to make the mortgage payments. We cannot write this for you.

Documentation of hardship

Hospital bills

Doctor bills

Documentation of unemployment

Documentation of incarceration

Death certificate

Divorce decree

Sample Hardship Letter:

 

 

Re: Hardship Letter/Short Sale for 123 Main Street, City, State 12345

To Whom It May Concern:

I purchased the property at 123 Main Street in March 2006. At that time, I had just started my own antique resale business, which had great promise for generating profits capable of supporting my mortgage. Unfortunately, sales were slow, which I attribute to great declines in tourism after gas prices skyrocketed. I ran out of money, and began working as a waiter to make ends meet. At the same time I was redoubling my efforts in my own business, but to no avail. After struggling for months to make my expensive mortgage payments, I had no choice but to put my house on the market. In August of 2006, I put my home up for sale by owner at an original listing price of $210,000. The only people to look at the house ran when they saw the extensive damage to the pool and the severe water damage from a leaking roof that had long needed a replacement. I lowered the price, but still had no takers. Over the next couple of months I lowered the home price three times, finally settling at $170,000. This price was the lowest I could list the house at and still afford real estate agent commissions to be deducted, although it leaves me with no profit. The home still has no offers. I am working with a real estate agent now, who is listing my house and promises to push it to get it sold quickly. I believe that using an actual agent will ensure that the home sells promptly.

I love my home, but I also understand that, at this point, I cannot afford it. I am a single parent, now working as a waiter to survive. My financial situation cannot sustain a home mortgage of nearly $2,000 per month. I would like nothing more than to sell my home, avoid foreclosure, and salvage my credit. This is my main concern. I know that a foreclosure on my record will affect me for years to come. I would ask that you please assist me in avoiding this.

Please accept this offer as payment in full. My attorney has advised me to file bankruptcy, but I prefer to avoid further destruction of my credit. I just want to move on and start over.

I deeply appreciate your help and understanding in this matter. If you have any questions, or need anything further from me, please contact me personally.

 

Signs of infestation

• Ants foraging around or in the home
• Piles of sawdust-like borings visible under porches, in basements, or emerging from cracks or crevices between walls and partitions
• Slit-like holes in woodwork, especially window and door casings
• Large winged ants in the house in late winter and spring
• Faint rustling sounds in walls, floors, or woodwork

How to recognize them

Carpenter ants are large black or red-and-black ants. The size varies in workers from 1/4 to 1/2 inch; queens are larger, up to 3/4 inch. Ants have a constriction (thin waist) between their thorax (where legs originate) and abdomen. If winged, there are two pairs of membranous wings that extend beyond the tip of the abdomen. The front wings are much larger than the rear wings.

Carpenter ants frequently are confused with dampwood termites. Both insects live in colonies and mine wood. Since they are controlled in different ways, it is important to distinguish between them.

Termite workers are yellowish to grayish white, up to 3/4 inch long, short-legged, rather slow-moving insects that spend their lives hidden from view, unless their mines are broken open.

Reproductive termites are brown, thick-waisted, and have long wings, approximately equal in length. The antennae of termites are short and straight (those of ants are angled). Termites fly during warm, humid evenings in the fall.