Watch Out Scranton Times. There's a New Dog In Town. The Scranton Post!

We live in America, the land of choice.  We can choose our elected officials.  We can choose whether to use a small mom-and-pop shop or a big store like Walmart.  What we haven't had here in Scranton is a choice of newspapers. 

One person, one company, one organization could never fill all our needs in NEPA.  There are too many of us and our population is diverse.  Could you imagine having one grocery store in town?  One hardware store?  One news show on TV?  There are people who are ademant about their news shows, whether it's 16, 22, or 28.  There's no reason to not have that excitement about our city's newspapers.

When I first heard about it, I thought what some of you may be thinking.  What's the big deal?  The news is the news.  You either read it or don't, no matter who wrote it.  It's factual so there can't be much difference between two newspapers.

Ted Brunelle put me at ease.  He explained that The Scranton Post will have a different viewpoint.  They are going for a more local feel and staying away from content that you can see anywhere.  The Associated Press releases stories for local news media to use.  The Scranton Post is going to get a locally written article about this content so that we can share our views, not the views of a national news service.

They also encourage readers to submit your own stories and announcements.  The tagline of The Post is "The People Of Scranton's Newspaper" and I believe that is what it will be based on my conversation with Ted.

You may want to pay special attention to a certain section of the paper.  There seems to be a section with a Q&A about Mortgage and Credit Issues.  Brilliant!  It's about time someone answered the concerns that have affected people's lives so much lately.  Oh, wait.  That person is me!  Ted and Barbara have been kind enough to allow me to lend my thoughts to their newspaper. 

I think the Scranton Times is a good paper.  I'm just glad that there will be another option in town.  I, personally, will be reading both.  I suggest everyone do this to give a new viewpoint a try.  It promises not to be too political while offering plenty of local content.

And don't forget about the guy giving free mortgage and credit advice!  Email me to see your question in the paper.

Big Plans For Downtown Scranton Renovation

Here we go!  Scranton is transforming. 

I can still remember watching "The Implosion".  A long row of businesses on Lackawanna Ave were blown up from the inside.  My brother and I watched as the buildings folded into themselves and came crashing to the ground.  In what felt like a moment, the Steamtown Mall was upon us.  The transformation of Downtown Scranton was in full swing.

Here we are again.  We're back on Lackawanna Ave, but this time there are no explosions.  Just celebration for the ongoing renovation project.  You can expect to see restaurants with inside and outside seating along the street.  The area will be inviting for pedestrians that can stop for a bite during some shopping or after a movie. 

Perhaps the more important aspect of the new buildings are the condominium units above.  To turn the city around, we need to bring people Downtown.  If they live here, they will work here, shop here, and eat here. 

So let's toast the improvements here in Scranton.  The accolades from national media, the medical school, the train line to NYC... these are all reasons to believe that Scranton is improving and will only become a more desirable place to live as time goes by.

"How Would 'House' Solve the Housing Crisis?"

There have been hundreds of posts about the current crisis of massive foreclosures.  Most of them focus on firmly pointing and shaking a finger at one of the parties of the real estate transaction.

I love watching the TV show, "House" on Fox.  I appreciate the way he handles problems.  He attacks them logically and methodically.  What would he do here?  Well, he certainly wouldn't waste time complaining.  He wouldn't devote any of his time or resources to whining about how this could have been avoided.  He would have his team working on ways to fix the problem.

We all know that mortgage brokers were offering risky loans.  These loans were being offered by lenders that set those risky guidelines.  Those guidelines were set by the amount of risk the wall street investors would take.  It's an old story that we all know quite well by now. 

So, what would Dr. Gregory House do?  Differential Diagnosis!  Time to get our whiteboards and black markers out.  Let's list the possible causes.

Mortgage brokers?  Let's get rid of them!  Wait a minute.  That doesn't solve anything.  The same loan products will be available to the consumer, they just won't have easy access to a mortgage professional.  That doesn't help anybody.  Besides, the market is correcting and those risky loans are no longer available anyway.

Lenders?  Well, the market is taking care of them.  Subprime lenders are almost extinct.  Prime lenders are adjusting their program offerings to match the new level of acceptable risk.  Higher credit scores and higher down payments are now needed. 

Investors?  The market is going to dictate what they do.  Mortgages are a less desirable investment, so the lenders have been forced to change their programs to make their product more attractive.

What we have learned is that it doesn't help to blame and remove any of these individual parties.  So, as "House" would wonder, what would cause all of these problems?  Anybody?

Let's look at the big picture.  It all comes down to risk.  Lenders took large risks and only now realize that they misread borrower's ability to repay.  What about the borrowers?  What if borrowers were less risky?  What if they managed their credit efficiently and made smart decisions?  What if they knew how to shop for a mortgage and what loan would satisfy their needs? 

I'm having one of those epiphany moments where the answer becomes clear.  Quick!  Start treatment right away.  One-hundred CC's of borrower education, stat! 

The government is going to waste a lot of time trying to "fix" the mortgage problems.  Let's divert our attention to educating the American public.  Let's show people how to create and stick to a budget.  Let's show them how to choose a credit card and how to shop a car loan and mortgage.  Let's show them how credit reporting works and how to use the bureaus' rules to their advantage. 

It will take some major overhauling, but we need to add these subjects to public education at the high school level.  We can't stop there.  The wound is too deep.  We also need to educate America's adult population.  Government funding can help us mortgage and real estate professionals set up free classes. 

These are deep fundamental changes, but they will heal the patient.  We can focus on the problem, or we can focus on the solution.  What will we end up doing, and what affect will it have on our future?

Newly Updated FSBO Two-Story in a Great Carbondale Neighborhood

Tasha Brennan | (570) 281-2550   150 Green St, Carbondale, PA Newly Updated Two-Story in a Great Neighborhood 3 Bdrm Single Family House offered at $159,900             Year Built 1935 Sq Footage 1,200 Bedrooms 3 Bathrooms 2 full, 0 partial Floors Unspecified Parking 2 Car garage Lot Size 5,000 sqft HOA/Maint $0 per month   DESCRIPTION NEWLY UPDATED 2 STORY SINGLE FAMILY HOME IN WONDERFUL NEIGHBORHOOD CLOSE TO PARK & BUS STOP. GREAT VIEW! 3 BEDS 1.75 BATHS FINISHED BASMENT. HEATED DETACHED 2.5 CAR GARAGE WITH ATTIC STORAGE. PERFECT FAMILY HOME.   see additional photos below ADDITIONAL PHOTOS Seller contact info:      Tasha Brennan (570) 281-2550 For sale by individual owner Equal Opportunity Housing Posted: May 2, 2008, 5:38pm PDT

Spacious FSBO Ranch Near The Water Gap - East Stroudsburg

John | (570) 223-7784 10 miles from Water Gap, East Stroudsburg, PA Poconos ranch with finished basement. 10 miles from The Gap. 3 Bdrm Single Family House offered at $198,500 Year Built 1988 Sq Footage 2,000 Bedrooms 3 Bathrooms 3 full, 0 partial Floors 1 Parking 2 Covered spaces Lot Size .5 acres HOA/Maint $0 per month DESCRIPTION Twenty year old home consisting of a Great Room (living, dining and kitchen), three bedrooms, (two with king size beds) three full baths, converted gas fireplace, wrap around deck with large carpeted screened room off the dinning room. Finished walk-out basement with family room; office; laundry; workshop; large walk in pantry, plenty of closet space and a large storage room. Entire home (both levels) has wall-to-wall carpeting, central air, central vacuum. Vacuum also in carport. All appliances including washer & dryer. see additional photos below ADDITIONAL PHOTOS Seller contact info: John (570) 223-7784 For sale by individual owner Equal Opportunity Housing Posted: May 2, 2008, 4:58pm PDT

FSBO Dunmore Three Story Home in Move-In Condition

Gary | (570) 941-8922 1116 N Irving Ave, Dunmore, PA Move In Immediately - Completely Renovated 3 Bdrm Single Family House offered at $139,900 Year Built Unspecified Sq Footage Unspecified Bedrooms 3 Bathrooms 1 full, 0 partial Floors 3 Parking 4+ Uncovered spaces Lot Size Unspecified HOA/Maint $0 per month DESCRIPTION This 2-story home has a full, finished, and dry basement for extra living space. The entire home has been renovated and is optimal for a first time homebuying family. Seller is also including an adjoining lot with space for 6 parking spaces and a large yard. Fenced-in portion of the yard is perfect for young kids. see additional photos below ADDITIONAL PHOTOS Seller contact info: Gary (570) 941-8922 For sale by individual owner Equal Opportunity Housing Posted: May 2, 2008, 10:16am PDT

FSBO Roundup! Scranton and NEPA's Source for Homes By Owner

Welcome to the Scranton and NEPA FSBO Roundup!  Yee haw!

If you're looking to buy a home, I highly suggest you speak to a local Realtor.  They have a large inventory of homes available to them 24 hours per day.  A Realtor can also give you professional advice that can help make the process easier, or even save you thousands of dollars.  Contact me and I'll refer a responsible Realtor located in the area where you plan to move.

Beyond the MLS, there is also a whole other market of homes out there that is rarely seen by anyone.  That's because you have to be looking in the paper or in the neighborhood to see any of the marketing being done for these FSBO homes for sale.

My intention is to help everyone out.  Homeowners could always use more exposure for their FSBO.  I offer this additional exposure at no cost at all.  I'll advertise on various real estate web services and create a cool Virtual Tour for your home.

I'm also making these unseen homes for sale more visable to Realtors.  If you are a Realtor and you have a client that wants a home like the ones I have, it may be worth it to start a conversation with the homeowner.

I'm also helping by exposing these homes to local investors that are always on the lookout for income-producing properties.

I hope that my efforts have an effect on the entire NEPA housing market by making more homes available to the homebuying public.  Please feel free to contact me about any of these properties.  I'll promptly put you in touch with the owner. 

• Comfy Home in Old Forge
• New Construction in Poconos - Many Upgrades
• Brick Split Level in Dalton
• Cape Cod in Dalton - Large Lot
• Stately Split-Level in Upscale Dunmore Development
• Three-Unit Income Property In North Scranton
• Colonial Home in Quiet Dalton
• Move-In Ready Dunmore Remodled Three-Story

Realtor Listings

• Beautiful New Construction In Throop
• Income Duplex In Olyphant

If you'd like to see your home here, drop me an email.  Realtors, feel free to contact me and I can add your listings here for more exposure.

P.S.    Most sellers and Realtors prefer a PreApproved buyer.

FSBO - Split Level Home in Upscale Dunmore Development

Kevin Blasi | (570) 342-2444 143 Swinnick Dr, Dunmore, PA Split Level Home in Upscale Dunmore Development 3 Bdrm Single Family House offered at $279,000 Year Built Unspecified Sq Footage 2,100 Bedrooms 3 Bathrooms 3 full, 0 partial Floors 2 Parking 1 Car garage Lot Size Unspecified HOA/Maint $0 per month DESCRIPTION This split level home is located in the upsale Swinnick Development in Dunmore. The 2100 square-foot home has been completely updated and remodeled. * new roof * new granite countertops * new tile * new hardwood floors * new central air system see additional photos below ADDITIONAL PHOTOS Seller contact info: Kevin Blasi (570) 342-2444 For sale by individual owner Equal Opportunity Housing Posted: Apr 29, 2008, 6:20am PDT

FSBO Three-Unit Multifamly in North Scranton Providence Section

Kevin Blasi | (570) 342-2444 1124 Diamond Ave, Scranton, PA FSBO Three Unit Income Property in Providence Section of North Scranton 5 Bdrm Multi-Family, 3 units offered at $105,000 Year Built Unspecified Sq Footage Unspecified Bedrooms 5 Bathrooms 0 full, 0 partial Floors 3 Parking 2 Uncovered spaces Lot Size Unspecified HOA/Maint $0 per month DESCRIPTION This three-unit home is located in North Scranton's Providence section. Each floor is an entire unit with a one-bedroom unit on the first floor and two-bedroom units on the other floors. The major systems have been updated including a new furnace, new water heater, new plumbing, and new bathrooms. Taxes are affordable at $1700/year. Let your tenants pay your mortgage and profit with this updated investment property in Scranton. see additional photos below ADDITIONAL PHOTOS Seller contact info: Kevin Blasi (570) 342-2444 For sale by individual owner Equal Opportunity Housing Posted: Apr 26, 2008, 10:58am PDT

The No Closing Cost Mortgage and Other Mythical Creatures

I've written blogs about this in the past and feel very strongly about this subject.  But, I just came across this online video that backs up my feelings about "No Closing Cost Mortgages".

Local and online banks have been touting these "No Closing Cost Mortgages" as a way to entice buyers and borrowers to take an application.  They are feeding on the general fear in the industry right now.  Charged by all the negative news in the media about mortgage brokers, they are stealing away market share using scrupulous tactics.

You see, there's no such thing as a "No Closing Cost Mortgage".  Why would someone, let alone a bank, want to work for free?  They are trying to perceive themselves as the lowest cost alternative when, in reality, a "No Closing Cost Mortgage" costs much more than any other kind!

There are two ways to pay for a mortgage.  You can pay an upfront, one-time, fee.  This is how mortgage brokers mostly work.  The other way is by paying in the interest rate.  By increasing the rate they are offering you, banks are collecting more money from you every month for the next 30 years! 

It feels nice not to bring money to your closing, but the sad reality is that you are paying a higher rate and higher payments because that bank tricked you into thinking a loan is free.  Please do your research!  You'll find that the rate those banks offer is much higher than you should be paying.