Linda's Lexington Blog

The "Ouch" of Social Media

Linda Lipscomb RE/MAX Lexington Henderson County TN — Sun, 22 Nov 2009 22:58:58 -0600

Thanks Chris. Good point. WE should all be aware of how we can affect others.

Linda Lipscomb RE/MAX Unlimited 731-249-5376

http://LindaLipscomb.com http://Move2LexingtonTn.com

Via Chris Ann Cleland, GRI (Long & Foster, Gainesville, VA):

There is a positive and a negative to everything in life. Social media is no different. Social media (Facebook in particular) is great for staying connected to friends and family. Keeping a pulse on the goings on.   There is a negative, and it's based on the fact that everyone sees what you post.

WHY IS THAT A NEGATIVE?

Here's a very simple example of the "ouch" factor of Facebook:

You have a couple that you are good friends with, and have socialized with, off and on when you can. You find out, through a personal means of communication, that they are expecting a baby. Yippeee! This is great news. And they thought to share it with you one on one, personally. You start to think of the wonderful thing you can make the new arrival for the baby shower, that will no doubt be in three to four months.   After all, these are good friends and deserve a handmade gift. And then...

Months later you see on Facebook that the baby shower comes and goes. There are the pictures. You've seen all these people before at other social functions with this couple. And somehow, you were not invited. OUCH!   Were you simply overlooked or excluded. Considering your attendance would have meant another gift, at an expensive time in this couple's life, it sure feels like excluded.

This is where social media gets awkward. Because everything we post is available for all our "friends" to see, we need not be surprised when a friend turns up with hurt feelings after being excluded from an event.

Outlets like Facebook can really exaggerate that feeling of exclusion. And yet, while you may not ever be invited to attend another social function with that "friend", they were happy to accept your Facebook friend invite. Must just be jacking up the friend numbers on Facebook.
Chris Ann Cleland, Realtor- Licensed in Virginia, GRI & Short Sale Specialist. Affiliated with Long & Foster, 7526 Limestone Drive, Gainesville, VA 20155. To contact Chris Ann, call 703-402-0037 or email chrisann@LNF.com.

You Think Your House is Worth WHAT?? Pricing Your Home to Sell

Linda Lipscomb RE/MAX Lexington Henderson County TN — Tue, 17 Nov 2009 22:44:17 -0600

Good article, Liz. Enjoyed reading.

Linda Lipscomb RE/MAX Unlimited 731-249-5376

http://LindaLipscomb.com

Via Liz Moras ~Chilliwack Realtor, Chilliwack,Hope,Langley,Abbotsford (Harrison Hot Springs, Cultus Lake):

You Think Your House is Worth WHAT? Pricing Your Home to Sell

O.k., so you've looked on the Internet, you've checked the Real Estate Weekly - and you've talked to your Neighbors. You're pretty sure you know what you WANT your home to be worth. Next step? You call the Realtors in.

Everyone says you should interview 3 Realtors - so that's what you do! And sceptically you await their Verdicts! Does the highest Bid (because that's what it often is) win your Vote? Well it shouldn't and let me tell you why.





                                                  BUT Your neighbor's house just sold for XXXXX!

First of all, Realtors have access to the same information Online. By doing a CMA (Comparative Market Analysis) they should be able to come very close to the Range of Your Home's Value. They will see which homes are currently Listed, those that will be in direct competition with Your Home; they will see which comparable homes have Sold recently; and they will ALSO see which homes have 'Expired'....(Listed But Not Sold). That's the Starting Point!

If you use a Local Realtor - which is what I Recommend- they'll also be able to take into consideration different factors about your neighborhood - like development, schools, safety, proximity to transport etc.

                                                            BUT Your House has been upgraded!



Now where no 2 homes are exactly alike - chances are we've seen most of the homes for sale in your area and have an inside view that you may not have seen. Even online photos won't give you a complete view of how these homes compare.

In many ways - it's the Buyer that ultimately determines the value of your home. A house is worth what somebody will pay for it. It's important to try and anticipate what MOST buyers will pay for it. If the price is too high - you may just end up remaining THAT Buyer! If your home should by some chance sell for more then the estimated value, remember the home still needs to be Appraised for the Buyer's Bank, and if it's overpriced it just may not!

                                      BUT That's What INEEEEEEEED to Get for My Home!

There is the odd time that a home is unusual and there are not direct comparables, sometimes this requires a trial and error strategy where we have to gage potential buyer responses in order to fine tune the price.

Another factor is the current 'Real Estate market'. Is it a Buyer's market or a Seller's market - or is it balanced? What kind of standing inventory is in the market in your price range. These will all factor in to your pricing.

The value of a home can also be estimated in part by using the price per square foot calculation. But you do have to use a sliding scale of adjustment. The 'core' of the home is worth more then the peripheral square footage. ie. the price per sq. foot for a 1000 sq. foot rancher will be higher then that of a 3000 sq. ft. basement home.

Should you start higher - after all - you can always come down??? No! If you do that you should be charging your competitor a fee for helping them sell THEIR home!

Remember the most critical time for selling your home is in the first 30 days. Longer then that you can bet your bottom dollar, (and unfortunately that's probably what it will end up being) that the Buyer will be paying attention to your 'days on market' when making both their buying decision and price point!

How do you know if your house is priced right? Feedback! Your Realtor will be calling to get feedback on showings from both the Buyer and their Realtor.  If you've had over 6 showings and have been on the market for 3 or so weeks that should give you some idea of what the market thinks. Unusual or high end homes could be the exception here though.

Sometimes the most important factor is YOUR motivation. How motivated are you to sell?   I know a lot of Seller's like to tell us that 'they don't HAVE to sell'.......and in most cases that's true - you don't! But if you do want to sell your home call a Realtor that knows your market and will be honest with you - because that's what a professional does - they Help you Price Your Home to Sell!







If you or someone you know is thinking of Buying or Selling property in Cultus Lake, Chilliwack, Hope, Abbotsford, Langley or anywhere in the Fraser Valley Area of B.C. - or if you would like more information please give Liz  Moras of Landmark Realty Chilliwack a call at- 604-799-0459 or e-mail at lizmoras@gmail.com.

Copyright © 2009 By Liz Moras, All Rights Reserved. All photos by Liz Moras ( except the one's I'm in!). All information provided by this author is only an opinion, it is not guaranteed, may be based on information collected from several sources, and may be time sensitive. It is not necessarily representative of the opinions of Landmark Realty Chwk. Ltd..

Country Chase - Jackson, TN.

Linda Lipscomb RE/MAX Lexington Henderson County TN — Sat, 31 Oct 2009 22:24:37 -0500

Linda Lipscomb | RE/MAX Unlimited | 731-695-1118

22 Country Way Drive, Jackson, TN

New Construction. Country Chase...

3BR/2BA Single Family House

offered at $192,900

Year Built	2009
Sq Footage	2,016
Bedrooms	3
Bathrooms	2 full, 0 partial
Floors	1
Parking	2 Car garage
Lot Size	0.76 acres
HOA/Maint	$0 per month

DESCRIPTION

Brick, Split Bedroom Plan. Wood flooring. 9' Ceilings. Custom shower. Chef-delight kitchen with tons of cabinets and countertop space. Breakfast bar. Fireplace with gas logs. Formal dining. Nice front porch. Professionally landscaped. 5 year extended warranty. Photo is representative sample only!!!! Corner Lot.

see additional photos below

PROPERTY FEATURES

- Central A/C	- Fireplace	- Walk-in closet
- Hardwood floor	- Tile floor	- Living room
- Dining room	- Dishwasher	- Refrigerator
- Stove/Oven	- Microwave	- Attic
- Washer	- Dryer	- Laundry area - inside

OTHER SPECIAL FEATURES

- New Construction

- Split Bedroom Plan

- Wood Floors

- Fireplace w/ Gas Logs

- Formal Dining

- All Appliances Including Washer & Dryer

ADDITIONAL PHOTOS

Front View	Photo 2
Photo 3	Photo 4
Photo 5	Photo 6

Contact info:

Linda Lipscomb

RE/MAX Unlimited

731-695-1118

For sale by agent/broker

Equal Opportunity Housing

Posted: Oct 17, 2009, 8:25am PDT

New Construction in Lexington Tn.

Linda Lipscomb RE/MAX Lexington Henderson County TN — Sat, 31 Oct 2009 22:16:42 -0500

Linda Lipscomb | RE/MAX Unlimited | 731-695-1118

408 Turtle Creek Rd, Lexington, TN

New Construction.

3BR/2BA Single Family House

offered at $109,900

Year Built	2009
Sq Footage	1,400
Bedrooms	3
Bathrooms	2 full, 0 partial
Floors	1
Parking	2 Car garage
Lot Size	0.73 acres
HOA/Maint	$0 per month

DESCRIPTION

Vaulted ceiling in family room, kitchen, and master bedroom. Split floorplan. Separate laundry room. Corner fireplace. Appliances include range, refrigerator, dishwasher, microwave vent-a-hood, washer & dryer. Laminate wood flooring. Ceramic in wet areas. Concrete driveway, sidewalk, and patio. 5 year extended warranty.

see additional photos below

PROPERTY FEATURES

- Central A/C	- Fireplace	- Hardwood floor
- Tile floor	- Living room	- Breakfast nook
- Dishwasher	- Refrigerator	- Stove/Oven
- Microwave	- Attic	- Washer
- Dryer	- Laundry area - inside	- Balcony, Deck, or Patio
- Jacuzzi/Whirlpool

OTHER SPECIAL FEATURES

- New Construction

- 1400 Sq. Ft (estimate)

- 1 Acre Lot M/L

- Split Bedroom Plan

- Vaulted Ceilings

- All Appliances (Range, Ref, DW, Microwave, Washer, Dryer)

- Laminate Wood Flooring

- 5 Yr. Extended Warranty

ADDITIONAL PHOTOS

Representative Photo

Contact info:

Linda Lipscomb

RE/MAX Unlimited

731-695-1118

For sale by agent/broker

Equal Opportunity Housing

Posted: Oct 31, 2009, 7:07pm PDT

Should your life stop just because you're buying a home? In short... YES!

Linda Lipscomb RE/MAX Lexington Henderson County TN — Tue, 27 Oct 2009 05:12:55 -0500

Ready to buy a home??? Please read the list from John. It is excellent and oh, so true.

Linda Lipscomb RE/MAX Unlimited Lexington TN 731-249-5376

Move2LexingtonTN.com LindaLipscomb.com

Via John Cannata - Mortgage Loan Consultant - Frisco Texas - Reliant Mortgage Ltd ( 214-545-5604 Also available evenings and weekends):

Should your life stop just because you're buying a home?  Truthfully, you never know what affect actions you take today will have on the mortgage you apply for. Even if you don't plan on refinancing or purchasing for another three to six months from now.

Something as simple as transferring money from your savings to your checking account can create hassles in the mortgage process. I know it may seem a bit much, but lenders are paying closer attention to mortgage transactions today. Sure, the transfer of money seems simple enough.. and maybe it is. But when lenders see a large sum of money transferred into an account, they want a paper trail to know where the money came from and be sure that all accounts balance.

There are at least six things that should be avoided when purchasing a home or refinancing your existing mortgage. Even if you are already 'pre-approved', you should wait until the loan has closed.

Buying, Leasing, or Refinancing a Car - Many people are inclined to 'improve their social standing' by purchasing a car and buying a home at the same time (yes, this includes leasing a vehicle). There's nothing wrong with the concept itself, but buying the car before buying a home can affect what the lender determines you can afford for a home. Since a car is such a big ticket item, it can greatly raise your debt-to-income ratio, which lenders use to determine the amount of home you can afford. Ultimately, it will affect how much home you can purchase. Refinancing your automobile can affect your credit scores. Even though you are probably lowering your payments, the refinanced loan is considered new debt when calculating your credit score.

Becoming Self-Employed or changing jobs - Either of these could have a negative impact on your loan application and overall approval. In most cases, lenders want to see at least 2 years of self-employment. Keep in mind that this means 2 years worth of tax returns, which really means you probably have to be self-employed for more than 2 years in order to provide a full 2 years worth of returns. ** also, income is determined based on the 'Adjusted Gross Income' (after your deductions) ** Wait until after buying a home to become self-employed.

Changing jobs to a 'sales' environment is also risky while you are considering a home purchase. Even though the position you accept is not considered 'self-employment' is it still sales based. If you were receiving a salary prior to your new 'sales' job then you will need to show 2 years worth of sales income. Being in a sales position has similar considerations as being self-employed.

Moving Money Between Accounts - I mentioned this in an example above. When a lenders underwrites your loan to determine your eligibility, they will request complete statements (yes, even the blank pages) from your accounts that contain liquid assets. When you move money around between these accounts, especially if they are large amounts, you will have withdrawals in some and deposits in others. The lender will want to see documentation for these transactions. Most people do not keep all of this paperwork, so it's much easier to leave the money in the accounts until after you have purchased or refinanced your home.

Change Banks - This pretty much ranks up there with 'moving money'. It just creates additional paperwork for you and the lender. The more paperwork, the more likely issues could arise for your home purchase. Not only could there be questions/concerns from the lender, but it could cause unnecessary delays in closing your loan. Stay with your current bank until the mortgage process is complete.

Make a Large Purchase - A large purchase is not just about a car or boat. Now that you are moving into a bigger place, you will probably want to fill it with furniture... and that 'One Year Same As Cash' deal sounds really tempting. Resist the urge to purchase that new sofa set until after you have obtained the mortgage. Again, this is for two reasons. First, it could affect your credit scores and debt-to-income ratios. Secondly, remember that you are not done buying a home until the loan closes. There are no guarantees until that happens. Unfortunately, there are a number of things that could happen which results in a declined loan application. Contact your local mortgage professional to help you avoid any costly mistakes.

Apply For a Credit Card - Although this is the last item I mentioned, this is equally as important. The new credit card won't hurt your credit score too badly if you already have good credit, but it will cause the to question your financial stability for buying a home. For the time being, don't apply for no interest credit cards or department stores. After you are settled into your new home, there will be plenty of time for shopping.

In summary, when you are buying a home or refinancing your current mortgage, it is best to stay away from anything that will look as though you don't have your finances under control. The items above are just a few examples that could cause such a determination.

*********************************************************

If you live in the state of Texas and are looking for a reliable Mortgage Professional to assist you with the loan product that best fits your financial situation, give me a call. We do not charge upfront fees to run scenarios or charge unnecessary application fees.

Do you want to know all of your options? Call me today and let's discuss them further.

Always available for your Frisco Texas Mortgage needs!

John Cannata Reliant Mortgage  p# 214.545.5604

www.JohnCannata.com

Frisco Texas Mortgage Consultant

INTERESTED IN BUYING A HOME? Fact is, you may not be able to play today if you didn't pay yesterday!

Linda Lipscomb RE/MAX Lexington Henderson County TN — Sat, 17 Oct 2009 11:52:14 -0500

So often buyers are surprised by their credit scores.

Many do not understand the impact to credit for not paying bills on time.

Good article. Worth reading.

RE/MAX Unlimited 870 W. Church St. Lexington, TN 731-249-5376

Linda Lipscomb 731-695-1118 LindaLipscomb.com

Via Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate:

INTERESTED IN BUYING A HOME? Fact is, you may not be able to play today if you didn't pay yesterday!

A GOOD CREDIT RATING IS A CONSUMER'S MOST VALUABLE ASSET. The Tax Credit and low interest rates have inspired many folks to consider buying buying a home who never seriously considered that alternative to renting. After all, it's the thing to do these days. Or is it??

Fact is, you can't play if you didn't pay. . . OR, until you pay.

Inspired by a timely post by Ellen & Coc Stephens about credit repair, I suspect that many ActiveRain agents and loan officers have had contacts from consumers who want to buy, but are just simply not credit worthy. Hardly a day goes by that I do not receive a phone call from a consumer who has paid $Thousands of Dollars to a "credit repair" company only to find that their credit has not improved.

Working with a competent loan officer who will tell folks what they really need to do to be able to qualify for a mortgage loan is the best way.  Or, if they really need the structure of a service to manage their money, consider. . . .

CONSUMER CREDIT COUNSELING. If it's really out of the consumer's hands, CCC is the only way to go. They are non-profit and a mortgage loan can be obtained with CCC as a credit reference.

Folks just have to understand that bad credit didn't happen to them, they made it happen. They have to clean it up.

Many folks have filed a Chapter 7 bankruptcy in past years to liquidate their bad debt. Sadly, their credit report shows late payments in the past 6 months. WHAT?????

AFTER BANKRUPTCY. Yes, you can obtain a mortgage loan after bankruptcy.  2-4 years following discharge, a consumer can obtain a mortgage loan IF, THEY HAVE. . .

Established new credit

Made payments on time

Have no late payments

Qualify for the payment

Write a good explanation for the cause of the bankruptcy

More depending on your individual cause of the bankruptcy.

No, it isn't automatic. If you have damaged your credit in the past, you will have to earn the ability to obtain a mortgage loan. Folks who filed bankruptcy because of medical expenses will find it easier than folks with discharged consumer credit debt.

If you sold your home through a short sale in the past year, it is unlikely that you'll be able to get a mortgage loan today. I have received several calls with this scenario, often within months of a Short Sale. Not likely to happen.

WHAT TO DO.

Stay out of the mall.

Make credit card and other payments when they come in the mail, not a day before the due date.

Don't shop for automobiles while considering buying a home.

Don't co-sign for anything for anyone.

Develop a plan for saving that extra money rather than spending it.

Stay out of the mall.

GOOD LUCK!! There can be a wonderful home owning experience in your future.

ONLY YOU CAN MAKE IT HAPPEN.



~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988. Helping home buyers in Maryland and Northern Virginia. .

To Search for Homes for Sale in Maryland and Northern Virginia, visit our HOMESDATABASE site for buyers who would like to tour the real estate listings on line with photos, prices, descriptions and features.

WE CAN HELP! Ask about the Homefinders.com FREE One Year Home Warranty for all Leesburg home buyers

Country Chase - New Construction!!!!

Linda Lipscomb RE/MAX Lexington Henderson County TN — Sat, 17 Oct 2009 11:34:09 -0500

Linda Lipscomb | RE/MAX Unlimited | 731-695-1118

22 Country Way Drive, Jackson, TN

New Construction. Country Chase...

3BR/2BA Single Family House

offered at $192,900

Year Built	2009
Sq Footage	2,016
Bedrooms	3
Bathrooms	2 full, 0 partial
Floors	1
Parking	2 Car garage
Lot Size	0.76 acres
HOA/Maint	$0 per month

DESCRIPTION

see additional photos below

PROPERTY FEATURES

- Central A/C	- Fireplace	- Walk-in closet
- Hardwood floor	- Tile floor	- Living room
- Dining room	- Dishwasher	- Refrigerator
- Stove/Oven	- Microwave	- Attic
- Washer	- Dryer	- Laundry area - inside

OTHER SPECIAL FEATURES

- New Construction

- Split Bedroom Plan

- Wood Floors

- Fireplace w/ Gas Logs

- Formal Dining

- All Appliances Including Washer & Dryer

ADDITIONAL PHOTOS

Front View	Photo 2
Photo 3	Photo 4
Photo 5	Photo 6

Contact info:

Linda Lipscomb

RE/MAX Unlimited

731-695-1118

For sale by agent/broker

Equal Opportunity Housing

Posted: Oct 17, 2009, 8:25am PDT

249 Peace Chapel Road - Scotts Hill, TN.

Linda Lipscomb RE/MAX Lexington Henderson County TN — Sat, 17 Oct 2009 11:29:06 -0500

Linda Lipscomb | RE/MAX Unlimited | 731-695-1118

249 Peace Chapel Rd, Scotts Hill, TN

Are You Ready for Small Town Living???

4BR/4BA Single Family House

offered at $239,900

Year Built	1983
Sq Footage	3,544
Bedrooms	4
Bathrooms	4 full, 0 partial
Floors	2
Parking	2 Car garage
Lot Size	8.4 acres
HOA/Maint	$0 per month

DESCRIPTION

This spacious home is complete with 4 bedrooms, each with bath. Walk-out basement has den or rec room, kitchen, 2 bedrooms, 2 baths. Upstairs are kitchen, formal dining area, family room, 2 bedrooms, 2 baths. Across the back is screened porch...perfect for entertaining. Garage features storage space. 8.4 acres offers added privacy. Spacious, convenient, and classy best describe this home. Check out Scotts Hill today. A quaint little town just down the road from the TN River.

see additional photos below

PROPERTY FEATURES

- Central A/C	- Fireplace	- Walk-in closet
- Hardwood floor	- Tile floor	- Family room
- Living room	- Bonus/Rec room	- Office/Den
- Dining room	- Breakfast nook	- Dishwasher
- Stove/Oven	- Microwave	- Basement
- Laundry area - inside	- Balcony, Deck, or Patio	- Yard

OTHER SPECIAL FEATURES

- 8.4 Acres

- 4 Bedroom, 4 Baths

- Formal Dining

- Screen Porch

- Walkout Basement

ADDITIONAL PHOTOS

Front View	Photo 2
Photo 3	Photo 4
Photo 5	Photo 6

Contact info:

Linda Lipscomb

RE/MAX Unlimited

731-695-1118

For sale by agent/broker

Equal Opportunity Housing

Posted: Oct 17, 2009, 8:20am PDT

Thanks, I Needed That

Linda Lipscomb RE/MAX Lexington Henderson County TN — Sat, 17 Oct 2009 11:19:20 -0500

Agree!!! It's kinda sad after the transaction is over.

RE/MAX Unlimited

870 W. Church St.

Lexington, TN. 38351

731-249-5376

Linda Lipscomb 731-695-1118

LindaLipscomb.com

Via Peggy Wester Real Estate Agent Ozaukee & Washington County Real Estate (Shorewest Realtors):

Well, here it is Friday night, and I'm realizing I didn't have a particularly stellar week in real estate. Hmmmm....what's going on?

Times like these tend to put a damper on my attitude, confidence, and enthusiasm, but I always try to find some sort of motivation to get me back on track. I found it just a little while ago.

I met some buyers of mine at the house we're set to close on in two weeks. They just wanted to take some measurements and take another look around. The sellers came home while we were there, and the four of them struck up a friendly conversation about each of their plans. It was one of the most cordial meetings I've ever seen between buyers and sellers.

As we were leaving, my buyers thanked me for my time, and then she added, "Thank you for everything."

It's funny, but as happy as I am that we found "the" house for them and as satisfying as it is to see and hear their excitement, I have to admit I'm a little bummed that two weeks from now, this transaction will be closed. No more regular contact. Sure I'll add them to my mailing list and connect with them regularly just as I do with all my past buyers and sellers, but it's not the same.

The opportunity to meet and work with the Jasons and Micahs in this world remind me why I do what I do. And they always provide that motivation to get back on track -- to improve my attitude, grow my self-confidence, and be enthusiastic about all the opportunities I am given.

So thanks for your kind words...I needed that.

Every Seller Needs To Know, What Sells a house?

Linda Lipscomb RE/MAX Lexington Henderson County TN — Mon, 05 Oct 2009 22:06:15 -0500

Is it all about price??? Price it right, they will come!!

Linda Lipscomb RE/MAX Unlimited 731-249-5376 Lexington, TN.

LindaLipscomb.com

Via Carra Riley CRB, CRS, GRI (Carra Riley Inc.- Real Estate Consultant, Author, Speaker ):

Every Seller Needs To Know, What Sells a house?

There are four varibles that sell a house.

1. Price

2. Terms

3. Condition

4. Location

All four of the variables go together to create the "perfect sale." Each aspect must be taken into consideration if you want a property to sell.

1. Price fixes everything! Don't let anyone tell you different. When the buyer perceives there is a value because of the price, they will buy the home.

The other three varibles always can effect the price.

There are circumstances where a buyer has lost the ability to qualify for a traditional loan because of a foreclosure or bankruptcy and the buyer needs owner financing. With Owner carry Terms that particular buyer may be willing to pay more because they have ownership with possibly a small down payment.

Conversely, if the Condition is bad the price will have to be reduced to reflect a value in the home where a buyer will have to come in and do repairs or cosmetic updates.

Location is the toughest variable in the sale to compensate for. Most people have heard about in Real Estate the terms Location, Location, Location. If the location is bad.. ONLY price will sell the property possibly combined with terms so exciting that a buyer will not be able to pass up the deal.

2. Terms. If the Terms are attractive, sometimes a seller can get more money for the home. For example: a home with a value of $325,000 listed with owner carry terms of $25,000 down and no bank qualifing might be able to sell at $350,000 because of the terms.

Under any owner carry situation, it is important the seller speak with their accountant and attorney before accepting any contract and agreement to finance. The seller should be completely aware of the liability and consequences in owner financing. This is just an example how price can increase with the right terms.

3. Condition is a key factor in selling a home. When the property is in top condition, looking like a show home the seller may get top market value for the property. In times where homes are selling at a slow pace, in order to procur a sale, the home should be the BEST property at the Lowest price to get to the closing table.

Taking a seller on a preview tour of the homes in the area similar to their property can save months of discouragement with a home not selling. When a seller can see the competition and accepts the fact their home needs to be the Best house at the lowest price to sell, the home will sell and the seller will see what they are up against in comparison.

Carpet or paint allowance does NOT work in selling a home. If the home needs carpet, put it in. If the home needs painting, get it painted. Many times this can cost a seller $5,000 to $8,000 to do those upgrades. Investing, yes, investing is the correct term, for getting the house sold. The money invested will come back in the form or a quick sale at full market value.

A picture is worth a thousand words so think about how the property looks and even take some pictures to see what a buyer is looking at. Sellers should look at the pictures like they were a buyer and ask, "would I buy this house in this condition for this price?" Are the kitchen counters cluttered? Are the closets a mess? What does the front door look like and the yard when people drive up to the house?

A seller has 8 seconds for a buyer looking at a home to decide if they really like the house and if it will go on the A list. The buyer starts the decision making process when driving up to the home while looking at the surrounding properties and the entrance to the home.

There are many agents are trained in "staging" a home and there are "staging services" which help a seller to understand what needs to be done to create a "marketable product." Listen to these people if you want to get the house sold.

The seller needs to separate from the house and see it as an investment or product that needs to be sold. The seller needs to take all the emotions out of the happy memories in the home if they are serious about selling.

4. Location is the only variable which cannot be changed. A bad location, is a bad location so only price and terms are going to help this situation.

It does not matter that the same model home across the street sold for thousands more, because it was ACROSS THE STREET and did not back to the highway. A seller needs to get a reality check on location and think about when they purchased. If the seller got a good deal when they bought because it had a bad location then they have to give the new buyer the same good deal to sell.

Sellers should take all the emotion out of the business of selling a home and treat the transaction as an investment decision.

If the goal is to get the home sold then listen to the professionals and let them do their job.

As Donald Trump would say, "It's only business."

Cosmic Cow Pie

Carra Riley

WOW....Listen Up Foreclosure Buyers!!!

Linda Lipscomb RE/MAX Lexington Henderson County TN — Sat, 19 Sep 2009 00:26:44 -0500

Attended a class last week on a heart breaking subject....Meth Labs. It was most interesting, and most informative.

Parts of the class were sickening. Photos of meth users, their children, and their torn apart families.

What does any of this have to do with real estate you ask. Well, guess what....a large number of the foreclosure market are homes lost by families with drug problems. How do you know??? What do you look for??? What do you do if you suspect meth production??? What are the signs of a meth user???

More and more lawsuits involving non-disclosure. It was quite interesting, that Tennessee was ranked third in the US for meth labs. With the dramatic increase, looks like we are headed to the number ONE spot. Sad, huh?

You know when a meth lab is found in a home, it is recorded?? But where? How does the buyer find out?

One parent, one child, sick from the chemicals of a previous owners meth production is just one too many. Should the owners of these meth infested properties be required to do the cleanup and obtain a statement that the home is safe for occupancy by attaching a certification to the deed?

As Realtors, if we know of the meth production in a home, we are required to disclose.

The best way for buyers to find out if the home was subject to drug activity is to ask the neighbors. Most will know. Validation can be obtained through the local law enforcement. Buyers, this is serious. Make sure you know. Most foreclosures can be good deals, but never good enough to put your family at risk.

RE/MAX Unlimited 870 W. Church St. Lexington, TN. 731-249-5376 move2LexingtonTN.com

Linda Lipscomb 731-695-1118 lindalipscomb.com

First Time Home Buyers...Are You Sure a HUD or Foreclosed Home is What You Really Want??

Linda Lipscomb RE/MAX Lexington Henderson County TN — Sat, 12 Sep 2009 23:31:47 -0500

There are very few foreclosures in the Lexington TN area. What we are seeing is that most are swallowed up by a hand full of investors. The average buyer does not get a chance at them.

The listing agents on these properties are selling them before the general public knows about them. These investors are cash buyers and let's face it....the average buyer is not cash.

So, to buy a foreclosure in Lexington, TN.....don't hold your breath. Probably is not going to happen. So get up, get out, and find a value....they are out there, and they are not all foreclosures.

RE/MAX Unlimited 870 W. Church St. Lexington, TN. 731-249-5376

Linda Lipscomb 731-695-1118 LindaLipscomb.com

Via Therese VanderMeer - Realtor - FlexIt Realty (FlexIt Realty 1515 Michigan St. NE Grand Rapids, MI 49503):

I have many people coming up and asking me about how things are going for me in real estate these days. Most of them are concerned, for they find it hard to believe anyone can survive in this volatile market. Many of them are just interested in learning any information they can about real estate or how our market is doing, which of course I am always happy to talk about.

But most ask me the same question...so...”Are you selling a lot of HUD and Foreclosure homes to your Buyers?? ”My response to this question is surprising even to me, “No, I am not selling a lot of HUD or foreclosed homes. “ (And believe me it is not for lack of showing them!) But how can this be??

Nearly every time I begin working with a new Buyer they request the same thing...”I am really looking for a HUD or Foreclosed home that I can get a good deal on and fix up.” They all see the media where they hear of Buyers finding their dream home for cents on the dollar, which even appear to be in quite good condition. What they don’t yet realize is that although this can and does happen it is most often the exception not the norm...until they begin looking that is.

Once we begin our viewing of these homes they start to see the sad and true reality of what the HUD and Foreclosure market really is. The vast majority of these homes are in great distress that will require many $1000.00’s of dollars and hours of hard work to bring them back to a livable condition. Once they take all this into consideration the bubble bursts! Their home buyer vision seems to shift and the request comes...”Can we take a look at some homes that are not HUDS or Foreclosures?”

Just as an example: I was recently showing a distressed home to a Buyer and when we began to walk into one of the kids bedrooms it smelled STRONGLY OF URINE! My Buyer didn’t even make it into the room and walked immediately right out of the house. He was done. When I contacted the listing agent to let her know what had occurred her response was, “Oh, I know...one of the older kids is a bed wetter and it’s JUST the mattress!” Now maybe I’m expecting a little too much, but personally, I would get that mattress OUT OF THERE. Distressed homes are difficult enough to sell but this could have quite easily been taken care of.

It is now when the Buyers notice that even though our market is loaded with HUD and Foreclosed homes there is also a good selection of homes available for sale that are not...and priced very well. Often when comparing these ”normal sale” homes (if there is such a thing as a normal sale these days) to the HUDS and Foreclosures, then taking into consideration the money, time and resources they will require just getting into to the home, it becomes quite overwhelming , the HUD and Foreclosed homes seem to just fall by the wayside.

Now, I am not saying there are not good deals out there in the HUD and Foreclosure Market only that it takes someone with a strong motivation, the time, the talent and the financial resources to take on these homes and many of our First Time Home Buyers are finding they are either not willing or capable of doing this ....and their vision shifts.

If you are a First Time Home Buyer is a HUD or Foreclosed Home is What You Really Want? You may just surprise yourself so be sure to keep your options open.

-Therese is Selling and Marketing Properties in the Greater Grand Rapids, MI Area while specializing in Jenison, Grandville and Hudsonville. Please contact Therese directly at 616.780.0786 or by e-mail: tvmhomes@sbcglobal.net In this Challenging Market Every Advantage is Important! COPY RIGHT 2009 Therese VanderMeer All Rights Reserved.

57 Battleground Drive - Parkers Crossroads, TN.

Linda Lipscomb RE/MAX Lexington Henderson County TN — Wed, 26 Aug 2009 23:47:37 -0500

Linda Lipscomb | RE/MAX Unlimited | 731-695-1118

57 Battleground Dr., Parkers Crossroads, TN

A Home to WOW You!! From the moment you make your entrance into this custom built home, you will be astonished at the quality and spaciousness. The ea

3BR/3BA Single Family House

offered at $169,900

Year Built	2007
Sq Footage	1,894
Bedrooms	3
Bathrooms	3 full, 0 partial
Floors	1
Parking	2 Car garage
Lot Size	1.12 acres
HOA/Maint	$0 per month

DESCRIPTION

A Home to WOW You!! From the moment you make your entrance into this custom built home, you will be astonished at the quality and spaciousness. The eat-in kitchen is a chef's delight with it's corian countertops, Maytag appliances, pantry, and fabulous cabinetry. The family space adjoining the kitchen glows with beautiful wood flooring and custom tile corner fireplace. Formal dining with wood flooring and chair railing. The master bedroom and bath....aha, a place to relax, unwind, and enjoy. The whirlpool tub is oh too inviting. Take it outside to the patio (large enough for entertaining the whole neighborhood). You simply must see to appreciate all the upgrades in this brick beauty. Conveniently located minutes from I-40.

see additional photos below

PROPERTY FEATURES

- Central A/C	- Fireplace	- Walk-in closet
- Hardwood floor	- Tile floor	- Living room
- Dining room	- Dishwasher	- Refrigerator
- Stove/Oven	- Microwave	- Attic
- Laundry area - inside	- Balcony, Deck, or Patio	- Yard
- Jacuzzi/Whirlpool

OTHER SPECIAL FEATURES

- Oversized Garage

- Custom Cabinets and Countertops

- Formal Dining

- Corner Fireplace

- Large Back Patio

ADDITIONAL PHOTOS

Photo 1	Photo 2
Photo 3	Photo 4
Photo 5	Photo 6

Contact info:

Linda Lipscomb

RE/MAX Unlimited

731-695-1118

For sale by agent/broker

Equal Opportunity Housing

Posted: Aug 26, 2009, 7:13am PDT

New Bill Seeks to Extend (and Expand!) the Home Buyer Tax Credit

Linda Lipscomb RE/MAX Lexington Henderson County TN — Wed, 26 Aug 2009 00:31:02 -0500

What do you think???

Should the changes be made to the stimulus and extended?

Your comments would be appreciated.

RE/MAX Unlimited 870 W. Church St. Lexington, TN. 731-249-5376

http://Move2LexingtonTN.com

Linda Lipscomb 731-695-1118 http://LindaLipscomb.com

Via Janet Guilbault California Mortgage Banker/Broker:

Okay, the name for this new bill may not be as catchy as "Cash for Clunkers" but you gotta love it:

Home Ownership Moves the Economy(HOME) Act of 2009. HR 2801 was introduced by Howard Coble (R-NC).

It would continue the current tax credit for first time homebuyers set to expire on December 1, 2009, with a couple of notable changes:

Income restrictions would be removed

Buyers do not need to be first time buyers

Okay, everybody, all together now "SHHHHHHHHHHHHHHHHHH". For those of us who decided not to take a vacation in October and November to handle the "rush" of people trying to beat the deadline, this will squash that idea.

Who will rush to buy if they are going to extend the credit anyway?

People like my kid.

She is a potential first time buyer who makes way too much money to qualify and gets KILLED each year paying income tax. She may be jumping off the fence when she reads this.

And people like her are much more likely to help the economy (they have more disposable income).

Wait a second, didn't I suggest this very same idea in this post?

Also written today: How 15 Year Mortgages Could Save the Economy

Written by Janet Guilbault, Mortgage Banker/Broker based out of the San Francisco Bay Area

A letter for your broken heart...

Linda Lipscomb RE/MAX Lexington Henderson County TN — Wed, 26 Aug 2009 00:02:35 -0500

As our children start back to school.....may we all be aware of the influence surrounding them.

RE/MAX Unlimited 870 W. Church Lexington, TN. 731-249-5376

Linda Lipscomb 731-695-1118 http://LindaLipscomb.com

http://Move2LexingtonTN.com

Via Stephanie Jarman Realtor® Kansas City Homes and Land for Sale (Realty Executives):

This weekend, I heard some heartbreaking news. My friends' 17-year-old son took his own life after a series of cruel and malicious hazing incidents surrounding his football team. In Dakota's memory, and the memory of my two other friends who have taken their own lives, I am writing what I wish they could have known before they made that decision.

Dear friend,

I wish someone had told me this, when I was young. I'll tell you now, so you can learn what all "grown-ups" know: Who you are in High School is so little of who you are in life. Everything about that microcosm of life is an illusion. Don't buy into it! Anyone who is cruel and heartless to you now is of no value in your future. Imagine, for a moment, that this is as good as it gets for their life. In fact, they will probably soon be back to living with their parents!

The people you will remember are those that were kind to you when times were tough. Those who make you laugh. Invest your time in those people--surround yourselves with them. Block out the noise made by people with no other outlet for their heartache than to inflict pain on other people. Someday, they'll be serving you hamburgers through a little glass window.

I wish I could tell you that your worst day when you are 17 pales in comparison to the joy and delight the rest of your life holds. As awful as it seems on a really bad day, you are just beginning to see the fabulous gifts you hold--and what amazing things the future holds for you.

I wish you knew that even when you have made really horrible choices, your life has infinite value. You are unique, wonderfully made, and impossible to duplicate. You are forgiven, chosen by God's grace, and held as a precious gem in His hands.

Your life, your presence, makes your parents marvel at their incredible good fortune to have had a hand in your making. From your first moments on earth, they could never have imagined what an incredible gift your life has been in shaping their life. Your grandparents cannot describe how proud they are of you--and of the legacy you help them leave behind.

Your friends cannot imagine a day without your laughter and smile.

Even in the hardest times, the core of you is stronger than anything you are facing. Your life, your spirit, and your future are wondrous and incredible in ways that cannot even be spoken.

There is a life ahead for you filled with joy and love beyond your ability to understand right now.

You need only wake up tomorrow and see beyond these tears to the possibility of a future beyond all your dreams.

And finally...

I wish I knew you needed this letter before you left. Every day, in a thousand ways, you are achingly missed.

No, We're Not Closing Because.......

Linda Lipscomb RE/MAX Lexington Henderson County TN — Thu, 30 Jul 2009 22:02:53 -0500

Well, I have a new excuse for a delayed closing.

I bet none of you have ever heard this one before.

So, here we go:

The underwriter called to say we must buy house numbers and install them on the home before they would fund the loan.

I thought it was a joke!!!!!

I have sold hundreds of home and have never had to install a house number.

Is this a new rule with Chase or Rural Development????

Needless to say....we got those three little numbers on the home today and are hoping for a close date of Monday.

The buyers were so disappointed as they were needing desperately to move over the weekend. How nit-picky is this going to get??

Linda Lipscomb RE/MAX Unlimited

82 Ridge Cove - Lexington, TN.

Linda Lipscomb RE/MAX Lexington Henderson County TN — Thu, 30 Jul 2009 21:37:59 -0500

Linda Lipscomb | RE/MAX Unlimited | 731-695-1118

82 Ridge Cove, Lexington, TN

Oakcrest Subdivision!!! Wonderful neighborhood with all brick homes.

3BR/2BA Single Family House

offered at $142,900

Year Built	1999
Sq Footage	1,717
Bedrooms	3
Bathrooms	2 full, 0 partial
Floors	1
Parking	2 Car garage
Lot Size	.68 acres
HOA/Maint	$0 per month

DESCRIPTION

Welcome Home!! So inviting. Feels like home from the moment you step inside. Spacious rooms. Formal dining. Kitchen is crisp and clean with breakfast nook. New paint. Wonderful front porch and covered back deck. Fenced yard. Private dead in lane. Great neighborhood,quietly tucked away. Caywood School District.

see additional photos below

PROPERTY FEATURES

- Central A/C	- Central heat	- Walk-in closet
- Hardwood floor	- Dining room	- Breakfast nook
- Dishwasher	- Stove/Oven	- Microwave
- Laundry area - inside	- Balcony, Deck, or Patio	- Yard

OTHER SPECIAL FEATURES

- Fenced Backyard

- Covered Deck

- Dead End Lane

- City Convenience

- Convenient to I-40

- Brick Exterior

ADDITIONAL PHOTOS

Front View	Photo 2
Photo 3	Photo 4
Photo 5	Photo 6

Contact info:

Linda Lipscomb

RE/MAX Unlimited

731-695-1118

For sale by agent/broker

Equal Opportunity Housing

Posted: Jul 30, 2009, 4:48pm PDT

878 North Broad Street - Lexington, TN.

Linda Lipscomb RE/MAX Lexington Henderson County TN — Wed, 29 Jul 2009 17:49:15 -0500

Linda Lipscomb | RE/MAX Unlimited | 731-695-1118

878 North Broad Street, Lexington, TN

Conveniently located!!! Brick, circle drive, 30x30 shop, fenced backyard.

3BR/2BA Single Family House

offered at $105,000

Year Built	1972
Sq Footage	1,431
Bedrooms	3
Bathrooms	2 full, 0 partial
Floors	1
Parking	3 Covered spaces
Lot Size	18,295 sqft
HOA/Maint	$0 per month

DESCRIPTION

When Minutes Count....You'll Be In the Right Place! Conveniently located on beautiful North Broad. Minutes to School, Ballpark, or Walmart. Home features gorgeous wood floors, spacious rooms, and tasteful paint choices. New back deck. 30x30 shop with half bath, water, and electric. Fenced backyard. Circle drive. Tons of curb appeal. Priced to move you.

see additional photos below

PROPERTY FEATURES

• Central A/C	• Central heat	• Hardwood floor
• Family room	• Breakfast nook	• Stove/Oven
• Attic	• Laundry area - inside	• Yard

OTHER SPECIAL FEATURES

• 30 x30 Shop

• Fenced Backyard

• Brick Exterior

• New Deck

ADDITIONAL PHOTOS

Front View	Back Yard
Sdie View	Family Room
Dining	Shop

Contact info:

Linda Lipscomb

RE/MAX Unlimited

731-695-1118

For sale by agent/broker

Equal Opportunity Housing

Posted: Jul 21, 2009, 7:16am PDT

520 Walter Garrett Road - Parsons, TN.

Linda Lipscomb RE/MAX Lexington Henderson County TN — Tue, 28 Jul 2009 17:02:30 -0500

Linda Lipscomb | RE/MAX Unlimited | 731-695-1118

520 Walter Garrett Road, Parsons, TN

3.8 acres with custom built home. Partial basement, detached garage, screened porch, upgraded kitchen. Minutes from I-40.

4BR/2.5BA Single Family House

offered at $292,500

Year Built	1979
Sq Footage	4,445
Bedrooms	4
Bathrooms	2 full, 1 partial
Floors	3
Parking	4 Car garage
Lot Size	3.8 acres
HOA/Maint	$0 per month

DESCRIPTION

View from the Top! Complete w/ nature's big screen featuring wildlife galore in your backyard. Fabulous kitchen w/ silestone countertops and beautiful custom cabinets. Chef's delight with an abundance of work space. Home is complete with office and a wonderful heat/cooled sunroom. From the moment you enter the wonderful vaulted foyer of this home, the quality is apparent. Custom built with all the extras. Detached shop is the perfect storage space or workshop. With 3.8 acres you'll have the privacy you deserve. Conveniently located.

see additional photos below

PROPERTY FEATURES

• Central A/C	• Central heat	• Fireplace
• High/Vaulted ceiling	• Walk-in closet	• Hardwood floor
• Tile floor	• Family room	• Living room
• Bonus/Rec room	• Office/Den	• Dining room
• Breakfast nook	• Dishwasher	• Stove/Oven
• Microwave	• Attic	• Basement
• Laundry area - inside	• Balcony, Deck, or Patio	• Yard

OTHER SPECIAL FEATURES

• 3.8 Acres

ADDITIONAL PHOTOS

Front View	Front View 2
Beautiful Entrane	Silestone Countertop
Den w/fireplace	Screened Porch

Contact info:

Linda Lipscomb

RE/MAX Unlimited

731-695-1118

For sale by agent/broker

Equal Opportunity Housing

Posted: Jul 12, 2009, 6:30pm PDT

2430 Old Huntingdon Road - Lexington, TN.

Linda Lipscomb RE/MAX Lexington Henderson County TN — Tue, 28 Jul 2009 17:00:11 -0500

Linda Lipscomb | RE/MAX Unlimited | 731-695-1118

2430 Old Huntingdon Road, Lexington, TN

Walk-out Basement. Sunroom, recreational room. Hardwood Flooring. Inground Pool. Pond. 22 North of Lexington.

4BR/3.5BA Single Family House

offered at $242,500

Year Built	1986
Sq Footage	2,800
Bedrooms	4
Bathrooms	3 full, 1 partial
Floors	3
Parking	2 Car garage
Lot Size	1 acres
HOA/Maint	$0 per month

DESCRIPTION

Need More Space??? This home features 4 bedrooms and 3.5 baths. The kitchen is a cook's delight with disposal, trash compactor, work island, built in pantry, and overlooks the backyard pool. Off the kitchen is the sunroom, perfect for relaxing, morning coffee, or your favorite book. Family room features fireplace and beautiful wood flooring. Walkout basement features recreational room, bath, and bedroom. This home is just perfectly designed for entertaining. Back deck overlooks the pool, pond, and the most manacured lawn on the block. It's picture perfect...including the ducks in the pond.

see additional photos below

PROPERTY FEATURES

• Central A/C	• Central heat	• Fireplace
• High/Vaulted ceiling	• Walk-in closet	• Hardwood floor
• Tile floor	• Family room	• Bonus/Rec room
• Dining room	• Breakfast nook	• Dishwasher
• Refrigerator	• Stove/Oven	• Microwave
• Basement	• Laundry area - inside	• Balcony, Deck, or Patio
• Yard	• Swimming pool	• Jacuzzi/Whirlpool

OTHER SPECIAL FEATURES

• Sunroom

• Recreational Room

• Formal Dining

• Inground Pool

• Pond

ADDITIONAL PHOTOS

Front Porch View	Street View
Backyard Pool	Pond
Kitchen	Landscaping

Contact info:

Linda Lipscomb

RE/MAX Unlimited

731-695-1118

For sale by agent/broker

Equal Opportunity Housing

Posted: Jul 28, 2009, 1:51pm PDT

96% or 4%

Linda Lipscomb RE/MAX Lexington Henderson County TN — Tue, 28 Jul 2009 15:54:26 -0500

Very few foreclosures in our area.....and these few become a bidding war and usually sell for more than asking price.

RE/MAX Unlimited 870 W. Church St. Lexington, Tn. 731-249-5376

Linda Lipscomb 731-695-1118 http://LindaLipscomb.com

Via Ron Trzcinski (ExecuHome Realty):

96% or 4%

To which group does your Seller belong?

Let us assume, based on data that I have seen, that 30% of Homeowners own their homes free and clear, or that they have no mortgages or liens against their homes.

Second, of those remaining 70% of Homeowners who have mortgages, 94% of them are not behind on their payments or in danger of foreclosure or the like. This is equivalent to 65.8% of all Homeowners.

The combined total of the 30% of Homeowners, who own their homes without a mortgage, plus the 65.8% of Homeowners, who are not behind on their mortgages, equals a total of 95.8% of all Homeowners.

Almost 96% of all Homeowners are not in danger of foreclosure and the remaining 4% are in danger.

In the current realty market, nearly 50% of all sales are for distressed properties, or Sellers, who are from the 4% of Homeowners who are having difficulty making their payments.

In a normal market, these distressed sales would be ignored, when doing a comparison to determine a reasonable price for a home, because they would be a much lower percentage of the homes on the market.

In today's market, however, it is hard to ignore this large part of the market.

As Real Estate Agents, we understand all too well, the importance of price when selling a property. The generally accepted rule is that if the property is not selling, then the price is too high.

Granted, there other factors which are impacting price, but to a large extent the fall in prices has been related to this 4% of Buyers who have not been able to make their payments.

Now, let us assume that a Homeowner wishes to sell his or her house. If they are from the 4% group, then they will likely have a lower price, a fact which would be true even in a strong market.

If the Seller were from the 96% group, then, in order to compete, given that so many distressed properties are on the market, they would most likely need to lower their price.

The question is asked again: to which group does your Seller belong, the 96% or the 4%?

If 96% of Homeowners are not having a problem, then why should the value of their home be so drastically reduced?

Once the market clears itself of this 4%, will prices go back up to the values which were established just a few short years back?

Can we blame this overwhelming majority of Homeowners for not wanting to accept that their homes have substantially depreciated in value given that it was caused by a small 4% of Homeowners?

Will This Loan Ever Close???

Linda Lipscomb RE/MAX Lexington Henderson County TN — Wed, 22 Jul 2009 12:04:10 -0500

Congress continues to change the way mortgages are done. Effective July 30, 2009, there are several changes that will take place per the HERA/MDIA laws recently passed.

The new laws require the borrower to receive the initial disclosures and have 3 days to review BEFORE we can collect any type of fees. (Including appraisal fees).

Because of the new HVCC (Home Valuation Code of Conduct) - the borrowers now have to charge to a credit card or debit card the appraisal fee. Basically, what the new change means is that we cannot order an appraisal until 3 working days after the initial disclosures have been signed here at our office.

Further, the borrowers will receive "initial disclosures" from the mortgage company when the file is actually submitted. The new law stipulates that a purchase transaction (where financing is concerned) cannot close until 7 business days after the initial disclosures are sent from the mortgage company. Not the disclosures we give them here, but the ones they receive in the mail from the mortgage company.

If for any reason, the fees or loan amounts need to be changed, a "re-disclosure" has to be sent by the mortgage company. That will further delay a closing because if fees change, and a re-disclosure is required, the law stipulates the closing cannot occur until six business days after the mortgage company sends the new disclosures to the borrower.

Traditionally, a closing date is established by the borrower and seller when the sales contract is finalized. While the practice of establishing a closing date at contract signing will continue, please be aware of the MDIA guidelines and the restriction they impose about the time frame of when a transaction can actually close.

We all will survive this market and the sweeping changes that continue to bombard us. But be prepared to hear,"Will This Loan Ever Close"?

RE/MAX Unlimited 870 W. Church St. 731-249-5376 http://unlimited.tennessee.remax.net

Linda Lipscomb 731-695-1118 http://LindaLipscomb.com

Buying A Foreclosed Home? The Home's Recent History May Kill Your Family!

Linda Lipscomb RE/MAX Lexington Henderson County TN — Thu, 16 Jul 2009 00:31:37 -0500

In today's market, most buyers are looking for a "foreclosure". There are very few in our area, so it's a bidding war when one does become available.

Always seen as a deal, long-term, as you point out, it may be far from it.

Thanks for reminding buyers to find out all they can about these "good deals". If it's too good to be true, they usually know something you don't. Buyers beware.

RE/MAX Unlimited 870 W. Church St. Lexington, Tn. 731-249-5376

Linda Lipscomb 731-695-1118 http://LindaLipscomb.com

Via Lizette Fitzpatrick - Broker-Realtor® Lizette.US - Kentucky Residential Homes (Lizette Realty - Lexington KY - Richmond KY):

Buying A Foreclosed Home? The Home's Recent History May Kill Your Family!

What do you really know about this house?

Sure, it looks like a bargain from the outside. The media makes these foreclosed homes sound like the ultimate deal.

There is no seller's disclosure to tell you about any problems or repairs that have been made from the previous owners.

What you don't know may kill you and ruin you financially!

Many of these foreclosed homes may have had meth labs in them. Just walking in one can be dangerous! Realtors really have no idea they might be touring a future health issue.

Read here about one family's discovery and illnesses from a home they purchased. They did not discover the meth history for 5 years after they moved in. They were all sick and now broke! More about meth homes.

Once foreclosed, they are resold without any documentation of the history. Just walking in one of these homes is dangerous.

What if one was bought to flip and only minimal cosmetic work was done and it was back on the market to unsuspecting buyers?

Many clients ask me about foreclosures. I don't have any listed and I don't usually show them to clients. I might show one if it is listed or the client requests it specifically.

In Kentucky it is now a Class D felony to rent, lease or sell a home if the owner has not provided a written notice that the property has been contaminated by methamphetamine and has not been properly cleaned up by a certified contractor.

Each violation could result in a fine of up to $25,000 and/or imprisonment from one to five years.

Mold can be another issue in foreclosed homes. I can remember standing outside one home while the client looked inside. All of the basement walls had black mold! I had toured this one before it went into foreclosure and ran across this. I told the client before we went and they still wanted to tour it. They didn't buy it. I knew they wouldn't before going over there.

There are even more hidden issues in these foreclosed homes. Liens, water damage and more! I want the best for my clients and no legal issues for later down the road for both of us.

Be aware before you buy. What smells like a bargain may be no bargain in the long run.

Finding a new Lexington Kentucky home has never been so easy!

Just click on one of the links below.

Lexington KY Residential Homes For Sale

Lexington KY Farms For Sale

Lexington KY Multi-Family Units For Sale

Lexington KY Condos and Townhomes For Sale

Lizette Fitzpatrick- Principal Broker at Lizette Realty.

#1 featured Kentucky Realtor on Activerain.com and Localism.com.

Publisher/Author for the only Central Kentucky email newsletter on local real estate listings and sold properties, Kentucky relocation, local events, homeowner information and fun!

For more information on Kentucky Horse Farms, Lizette Realty, Richmond or Lexington KY real estate and homes for sale.

click on Lizette.us.

See for yourself what Lizette's extraordinary clients have to say about their Kentucky Real Estate experience. Copyright © 2009 By Lizette Fitzpatrick, All Rights Reserved *Buying A Foreclosed Home? The Home's Recent History May Kill Your Family!*

Is Your Customer Service This Great?

Linda Lipscomb RE/MAX Lexington Henderson County TN — Sat, 11 Jul 2009 22:07:12 -0500

Great story.

I am sure we all have similar stories of exceptional customer service.

We, at RE/MAX Unlimited, strive to be the best in our field. We appreciate our customer loyalty. Thank you for choosing RE/MAX.

RE/MAX Unlimited 870 W. Church St. Lexington, Tn. 731-249-5376

Linda Lipscomb 731-695-1118 http://LindaLipscomb.com

Via Cathy Glass, Oak Ridge, Knoxville Real Estate (Realty Executives Associates):

Is Your Customer Service This Great?

The first thing I said when I got home was, "I am never going anywhere else except Donny Hitch for body work on my car!"

This week I have had several customer service experiences. Four were horrible, and two were very pleasant and have won my customer loyalty. The most outstanding one, I must pass along to you. My question is, what could we do for our client that is comparable?

I had to get body repair on my car this week, and I used a company recommended by my insurance agency, Donny Hitch, Oak Ridge, TN. I had never heard of him, but I just wanted to get the work done. I determined to use him, as long as his estimate seemed reasonable. I walked in without an appointment, and within 5 minutes he looked at the car. Less than ten minutes he had my estimate ready, and I said I wanted him to do the work. They made all the arrangements for Enterprise Car Rental to be there on my scheduled day to pick me up and get a rental car. They estimated that the work would be done by Wednesday afternoon.

On Monday, I dropped off the car for the repairs. As before, there was nothing particularly spectacular. They just did their job efficiently with friendly faces. I got a call about 12 p.m. on Wednesday that the work would be done at 4 p.m. When I arrived, I briefly looked at the car and could tell the work was great, which was what I had hoped. They could have stopped there, and I would have been a satisfied customer.

They gave me the key and the paperwork, "Oh, and by the way, there is a lifetime warranty for that paint job," said the friendly but professional receptionist. I was totally shocked by that, since any other place has only warranted paint for one year.

As we continued to deal with the paperwork, the receptionist started giving me instructions about how to care for the car to protect the paint job. "You shouldn't wax it for three months, but in three months we give your car a free wax. We clean your car and wax it and check to make sure the job still looks all right." Would you like to go ahead and schedule it?" I did; I was so please. They were booked solid until the end of January. I picked a day, and I was off.

When I got to my car, it looked to me as though the carpets had been vacuumed and the windows cleaned. A tag was hanging from my rear view mirror that had tips about how to take care of the paint job. And I had a paper rug under my feet. Still reeling from the lifetime warranty and the free wax job, something else kept catching my eye. Hanging on my light knob was a "thank you" bag with a bottle of matching paint. I was forever hooked as one of their clients.

I want my clients to feel the way I felt when they are through with me. What are some great things we do as real estate agents to create the same customer loyalty?

No! It's NOT OK! 90-120 day escrows and endless closing delays are NOT acceptable.

Linda Lipscomb RE/MAX Lexington Henderson County TN — Thu, 09 Jul 2009 23:42:51 -0500

Closing delays have become a nightmare in our market. Banks don't seem to care about the impact on families. There's just got to be a better way.

Linda Lipscomb RE/MAX Unlimited 870 W. Church St. Lexington, TN.

731-249-5376 http://LindaLipscomb.com

Via Ruthmarie Hicks (Keller Williams Realty):

OK - this is a funny way to begin a blog - but I'm exhausted!   Just plain out and out drained. Normally this state of tiredness would have me beating a path to a doctor. But I don't need a doctor, I just need a lender who can close a loan in a timely manner. You see, in addition to everything else that I do to complete transactions, I am being confronted with host of escrow issues that I've never seen before. I find myself on the phone constantly trying to prod the banks to close loans that I've had commitments and appraisals on since the beginning of the last century.   And if this is stressing me out - some of my clients must be ready to jump off the Tappan Zee Bridge.

The problems with lenders has been fodder for several recent blogs. Although I have a host of war stories that would be funny if they weren't such a threat to each transaction, I won't bore the public with the gruesome details - YET.   But what truly amazes me is the arrogance of the banks. After one disastrous situation where a closing was postponed FIVE TIMES and over one month, I ended up speaking with some of the powers that be at our friendly neighborhood national bank.   (Yes, I know that is an oxymoron and the sarcasm is deliberate!) Their attitude was atrocious. I was informed that "this is the new normal. You now need to count on 90-120 day escrows. If buyers and sellers are prepared for it -it shouldn't be a problem."

Right - not a problem. Sure! Tell that to families that have their furniture in storage, their pets in kennels and themselves bottled up in hotels for two to three weeks. Tell that to the person who must lease a temporary rental for a couple of months to bridge the gap. Tell that to the seller who is dumping their savings into the mortgage and maintenance on an empty home. I won't even go into the convenience issues and the fact that lives are on "hold" for what seems like an eternity. What about the expense? In a time where credit is almost non-existant and most people have no money to spare, this is a BIG problem. The expense is not "going away" just because we are told to expect it. While I am at it - I should mention that prolonged delays have the potential cost buyers their deposit. When all parties are acting in good faith - this is a non-issue - but one can not count on that type of good will in each and every case.

What the larger banks are really saying is "You don't have a choice - just deal with it."   Perhaps they don't care because they don't think they have to. If I hear one more major player in these banks tell me about how "well capitalized" they are - I think I'll throw up.

Hey banks! I don't CARE how well capitalized you are. I really don't. If transactions are falling apart or are delayed endlessly it has a snowball effect - and that giant snowball could smother me and my clients.   Your capitalization means nothing if you aren't LENDING in a reasonable and timely way. From a purely selfish standpoint - if I don't get closings, I don't get commissions. No commissions, no money, no money, no money, no food on the table and no mortgage payment. For my clients the scenario is similar. Seller's who have moved on are paying for two residences. The deal gets delayed - that's bad enough. The deal falls apart, they are back on the market with months of payments and another looooooong escrow period looming. How long can they float on their savings before they too start to default on payments?

The large banks had better start caring. They may think they are "too big to accountable" but there are consequences.   There is one large bank with which I have four escrows all of which have had serious closing issues. At this point - I will no longer accept a pre-approval letter from this bank. If a buyer comes to one of my listings with a pre-approval from said bank - they will be required to find another lender.   By doing this I am fulfilling my fiduciary obligation to the seller - protecting the against an endless and dicey escrow. This bank is 100% off my list for buyers. If a buyer wants to use a loan officer from this bank - they MUST get a back-up pre-approval or I'm referring them to a more masochistic colleague.

Now - what good is that going to do? If you think that any large bank is afraid of little me - you are smoking something you shouldn't.   However, more and more agents in my brokerage are doing the same thing - shunning the large and stodgy and embracing the small and nimble. The latter is more motivated to get the job done and customer service is not an afterthought with them. Our agents are sharing information about loan officers and mortgage brokers that we have used with success. You know, the "small fry" the big banks thought they were going to squash with their pinky finger. Ironically these were the banks that were NOT too big to fail and took no TARP money.

Instead of cleaning up - the large banks may find themselves being cleared out.   Agents and brokers are slowly building relationships that navigate around these large cumbersome Goliath's of banking.

No! It’s NOT OK! 90-120 day escrows and endless closing delays are NOT acceptable.

© 2009 Ruthmarie G. Hicks - http://thewestchesterview.com. All rights reserved.