Rita's Blog

My Experience with Green River Capital ...

Rita Gibbons Virginia Hometown Realtors (Linton Hall Realtors) — Thu, 29 May 2008 07:58:10 -0500

Without a doubt Green River has to the the worst asset management company I've worked with!

They asked me to list a house for them - with a 30 day marketing time for EMC. We listed the house - and I received multiple contracts on this house within 4 days (it was a nice house and priced to sell). They accepted a contract and we were set to close on May 27th (Green River moved the closing date up because they didn't want to settle on the 30th like the purchaser wanted).

We had heavy rains a couple of weeks ago while I was out of town and my associate was taking care of our listings. We found out that the basement in this house flooded. I contacted my asset manager at Green River several times via phone and email to report the problem and get their approval to have the basement water taken care of (the carpeting was ruined and the basement needed cleaning and drying out). It took them 2 days to finally get back to me - to give me approval "up to $1500 which will come out of my pocket".

I hit the roof - first of all, they are the only company I have worked with that mandates that I pay for services upfront, furnish them with a cancelled check (yes cancelled), up to $1000. I told the asset manager that first of all they already owe me $1500 for the rekey, trash-out, lawn mowings, utilities - and I was not going to expend any more money on this property until I was reimbursed - and secondly this amount was well over the $1000 Green River insists I pay and submit for reimbursement. I got two estimates to dry out the basement at $2800 (it was a mess down there). I have good vendors who will invoice me for work - and wait up to 30 days for payment. I had the work started. I emailed and called this asset manager daily to get their approval on the $2800 which took them over a week!

The basement walls were damaged (drywall) with moisture and there was mildew and mold already starting to create a problem. I informed the asset manager and got two estimates - the contractor who was elected to do the work at $4700 advised that he would need $2000 to start the job and the balance at completion. After numerous conversations last week - trying to get this company to understand - first I do not have this kind of money to pay out and wait for reimbursement - and second that I will not expend any further money out of my pocket. It's during this conversation that I find out it takes this company 60 to 90 days to reimburse!! I am not happy about this - they owe me a lot of money!!

I also informed them that the guy who dried the basement out will not wait for payment and if he wasn't paid within a reasonable time he would slap a mechanics lien on the property. The asset manager finally agreed to get me a rush check for $7500 to pay for the basement. This was Thursday afternoon - we were supposed to close Tuesday - I told the asset manager that if they overnighted the check Thursday, my contractor would get the work completed before Monday (Memorial Day) and we could close on Tuesday. Well, Friday the asset manager still hadn't gotten the check - so we extended closing to Friday. On Tuesday after the holiday, I am notified that they have the rush check and have overnighted it to me and I'll have it on Wednesday (yesterday).

Now for the real kicker - I contacted my guy to work on the basement - based on this company's assurances that the money has been sent - and I had him get started on the basement and work to get this completed by Thursday. Yesterday - I'm looking for this check - it's after 4 pm - no check. I get the tracking information for the check - and find out from DHL that they set-up the shipment, but never delivered the package to DHL!! OMG am I pissed! I have my contractor working his butt off to get this house finished so we can close on Friday and they never sent the money!!!!

My contractor is furious - and rightly so - he and I pooled our funds and purchased the materials so he could finish this job - and Green River lied to me!

I called and emailed the asset manager about this several times late yesterday afternoon (of course I haven't heard anything). My last correspondence to them at 11:00 pm last evening was - unless this check is in my possession by 10:30 Friday morning, both contractors will be heading to the courthouse and filing mechanics liens on the property - and I willl advise the title company of this - we're supposed to close at 2pm Friday afternoon.

I will never do any work for this company again! They have to be the worse asset management company out there.

BANK OWNED * GREAT 3 LEVEL TOWNHOME - FREDERICKSBURG, VA

Rita Gibbons Virginia Hometown Realtors (Linton Hall Realtors) — Sat, 05 Apr 2008 00:35:02 -0500

Rita Gibbons | Linton Hall Realtors | rgibbons@lintonhallrealtors.com | 571-330-0741

515 Clint Lane, Fredericksburg, VA

BANK OWNED * GREAT 3 LEVEL TOWNHOME

4 Bdrm Townhouse

offered at $190,000

Year Built	1998
Sq Footage	1,816
Bedrooms	4
Bathrooms	2 full, 1 partial
Floors	3
Parking	2 Uncovered spaces
Lot Size	3,598 sqft
HOA/Maint	$55 per month

DESCRIPTION

GREAT 3 LEVEL TOWNHOME IS READY FOR NEW OWNER * ENTRY LEVEL BEDROOM W/FULL BATH * 3 BEDROOMS ON UPPER LEVEL W/DUAL ENTRY BATHROOM * REC ROOM W/FIREPLACE * HARDWOOD FLOORS IN LIVING ROOM W/CEILING FAN * LARGE EAT-IN KITCHEN * DECK AND FENCED REAR YARD * BANK OWNED

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Fireplace
Hardwood floor	Living room	Bonus/Rec room
Breakfast nook	Dishwasher	Refrigerator
Stove/Oven	Microwave	Balcony, Deck, or Patio
Yard

ADDITIONAL PHOTOS

Seller contact info:

Rita Gibbons

Linton Hall Realtors

rgibbons@lintonhallrealtors.com

571-330-0741

For sale by agent/broker

Equal Opportunity Housing

Posted: Apr 4, 2008, 8:27pm PDT

BANK OWNED * BEAUTIFUL COLONIAL - STAFFORD, VA

Rita Gibbons Virginia Hometown Realtors (Linton Hall Realtors) — Sat, 05 Apr 2008 00:26:08 -0500

Rita Gibbons | Linton Hall Realtors | rgibbons@lintonhallrealtors.com | 571-330-0741

41 Chadwick Drive, Stafford, VA

BANK OWNED * BEAUTIFUL COLONIAL

4 Bdrm Single Family House

offered at $324,900

Year Built	2002
Sq Footage	2,046
Bedrooms	4
Bathrooms	2 full, 1 partial
Floors	3
Parking	2 Car garage
Lot Size	8,062 sqft
HOA/Maint	$40 per month

DESCRIPTION

* BEAUTIFUL COLONIAL LOCATED IN GREAT NEIGHBORHOOD * FEATURES FRONT PORCH * LIVING ROOM W/BAY WINDOW * FAMILY ROOM W/GAS FIREPLACE, KITCHEN W/CHERRY CABINETS, STAINLESS STEEL APPLIANCES, CERAMIC TILE, CORIAN COUNTERTOPS * LARGE MASTER BR * FENCED BACK YARD * UNFINISHED BASEMENT W/ENDLESS POSSIBILITIES * BANK-OWNED *

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Fireplace
Walk-in closet	Hardwood floor	Tile floor
Family room	Living room	Dining room
Breakfast nook	Dishwasher	Refrigerator
Stove/Oven	Microwave	Granite countertop
Stainless steel appliances	Basement	Washer
Dryer	Yard

ADDITIONAL PHOTOS

Seller contact info:

Rita Gibbons

Linton Hall Realtors

rgibbons@lintonhallrealtors.com

571-330-0741

For sale by agent/broker

Equal Opportunity Housing

Posted: Apr 4, 2008, 8:17pm PDT

EXQUISIT ESTATE HOME - BRISTOW, VA

Rita Gibbons Virginia Hometown Realtors (Linton Hall Realtors) — Sat, 05 Apr 2008 00:15:57 -0500

Rita Gibbons | Linton Hall Realtors | rgibbons@lintonhallrealtors.com | 571-330-0741

9315 Rustic Breeze Court, Bristow, VA

EXQUISITE ESTATE HOME

4 Bdrm Single Family House

offered at $629,000

Year Built	2005
Sq Footage	4,706
Bedrooms	4
Bathrooms	4 full, 1 partial
Floors	3
Parking	2 Car garage
Lot Size	10,101 sqft
HOA/Maint	$50 per month

DESCRIPTION

CHERRY HARDWOOD FLOORS ON MAIN LEVEL * FORMAL LIVING ROOM AND DINING ROOM * LIBRARY/STUDY * GOURMET KITCHEN W/SILESTONE ,UPGRADED CABINETS, CENTER ISLAND * COZY BREAKFAST ROOM * GORGEOUS FAMILY ROOMM W/B-IN SPEAKERS, MARBLE FIREPLACE * DUAL CHERRY STAIRS & HARDWOOD FLOORS IN UPPERR HALL * MASTER SUITE W/LUXURY BATH & SITTING ROOM W/COFFEE BAR * FINISHED LOWER LEVEL W/WET BAR, DEN & SGD

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Fireplace
High/Vaulted ceiling	Walk-in closet	Hardwood floor
Family room	Living room	Bonus/Rec room
Office/Den	Dining room	Breakfast nook
Dishwasher	Refrigerator	Stove/Oven
Microwave	Granite countertop	Stainless steel appliances
Basement	Washer	Dryer
Balcony, Deck, or Patio	Yard	Jacuzzi/Whirlpool

ADDITIONAL PHOTOS

Seller contact info:

Rita Gibbons

Linton Hall Realtors

rgibbons@lintonhallrealtors.com

571-330-0741

For sale by agent/broker

Equal Opportunity Housing

Posted: Apr 4, 2008, 8:13pm PDT

FOR SALE - 11987 Bristow Village Blvd

Rita Gibbons Virginia Hometown Realtors (Linton Hall Realtors) — Tue, 11 Mar 2008 21:59:19 -0500

FOR SALE
11987 BRISTOW VILLAGE BLVD, BRISTOW, VA
OFFERED AT $475,900

NEW BRISTOW VILLAGE ... 4 BR, 3.5 BATHS
STUNNING * THIS HOME HAS IT ALL * GOURMET KITCHEN W/GRANITE COUNTERTOPS, MAPLE CABINETS AND STAINLESS STEEL APPLIANCES * HARDWOOD FLOORS * LIBRARY/DEN * HUGE MASTER BR W/SEP SHOWER AND TUB * LARGE REC ROOM AND FULL BATH ON LOWER LEVEL PLUS PLENTY OF STORAGE * REAR LOAD GARAGE * AWESOME HOME WITH AN AWESOME PRICE!

FOR SALE - 10568 New Bristow Village - $413,250

Rita Gibbons Virginia Hometown Realtors (Linton Hall Realtors) — Tue, 11 Mar 2008 21:52:27 -0500

* JUST LISTED! FORECLOSURE *
* 10568 ANDREW HUMPHREYS COURT, BRISTOW, VA *
* OFFERED AT: $413,250

NEW BRISTOW VILLAGE

4 Bedrooms, 3 Full and 1 Half Bathrooms
2 YEAR YOUNG SINGLE FAMILY HOME IN NEW BRISTOW VILLAGE * BREATH-TAKING ENTRY WITH WRAP-AROUND OVERLOOK * HARDWOOD FLOORS * CROWN MOLDING * LIBRARY/DEN * 2-STORY CEILING FAMILY ROOM WITH DOUBLE-SIDED GAS FIREPLACE * LAUNDRY BR LEVEL * HUGE MASTER BR AND MASTER BATH W/SEP SHOWER AND TUB * WALK-OUT BASEMENT FRAMED, WIRED AND DRYWALLED FOR FUTURE WET BAR, FULL BATH & THEATER ROOM *

Virtual Tour

Simple Fire Safety Tips ...

Rita Gibbons Virginia Hometown Realtors (Linton Hall Realtors) — Wed, 26 Dec 2007 18:36:58 -0600

That Can Save Your Life!

A house fire at any time can put you and your family's lives in great danger. Yet, fire experts say you can dramatically reduce the risk of injury or death by just following these five simple safety tips:

•1. Make sure your house number is visible from the street so emergency vehicles can find you. Consider using oversized reflective or illuminated numbers at the curb, preferably next to your mailbox.

•2. Install smoke detectors in places where they will activate in time for you to save yourself and family. This is usually within a foot of the ceiling. Make sure you test them monthly by pressing the "test" button, and replace batteries at least once a year. Don't rely on the alarm to make an intermittent "beep" to change batteries.

•3. Create a fire escape plan with an emergency route for each family member's bedroom. If bedrooms are on the second floor, purchase a simple chain ladder for escape from windows. Arrange for a safe family meeting place outside the home in the event fire strikes. This way you can account for each family member instantly.

•4. Place an adequately sized fire extinguisher near the kitchen area of your home. Also, place one at the opposite end of the home. Most homes use undersized extinguishers. Even if a small fire breaks out, you will want all the suppression you can get.

Remove all weeds, tree branches, leaves, and litter away from the perimeter of your home. Put a screen on your fireplace and keep it closed at all times. It's best to sleep with your bedroom door closed to give yourself more time to escape in case of a fire. And teach your children what to do if their clothes catch fire: Stop, Drop, and Roll.

Amazing Facts ...

Rita Gibbons Virginia Hometown Realtors (Linton Hall Realtors) — Wed, 26 Dec 2007 18:32:57 -0600

• Most lipstick contains fish scales.

• The first product to have a bar code was Wrigley's Gum!

• The average person laughs 13 times a day.

• Baby Robins eat 13 feet of worms each day!

• You blink 10,000,000 times per year.

• Fingernails grow nearly four times faster than toenails.

• Chewing gum while peeling onions will prevent you from crying!

• 166,875,000,000 pieces of mail are delivered each year in the U.S. (so that's how so many get lost!!)

• Every human has a distinct tongue print.

Lighting Birthday Cake Candles? Try This...

Have you ever tried to light the candles on a beautiful birthday cake, only to be disappointed by dripping wax and burning fingers? Here's a quick and easy solution: Simply find a piece of raw spaghetti, light the end, then light the candles on the cake. You can easily light all your candles with no burned fingers or wasted matches.

Easy Energy Saving Tips!

If you have Venetian or other horizontal blinds in your home, did you know that the direction of the blinds can directly affect the heat and energy loss?

Believe it or not, there is a right way and a wrong way to slant the blinds during the colder months.

During cold months, the horizontal blind's slats should be slanted from the indoors to the outdoors (up). Plus, make sure your horizontal blinds are fully lowered so they touch the windowsill. Slanting the blinds this way will trap the cool air between the window and the blinds and will keep your room warmer.

Do just the opposite for warm months. Slant the blinds from the outdoors to the indoors (down).

"The history of our race, and each individual's experience, are sown thick with evidence that a truth is not hard to kill and that a lie told well is immortal." (Mark Twain)

111 Mayfair Place, Stafford, VA ...

Rita Gibbons Virginia Hometown Realtors (Linton Hall Realtors) — Wed, 26 Dec 2007 18:26:46 -0600

Rita Gibbons | Linton Hall Realtors | rgibbons@lintonhallrealtors.com | 571-330-0741

111 Mayfair Place, Stafford, VA

Great Location - Great Value

2 Bdrm Townhouse

offered at $195,000

Year Built	1991
Sq Footage	1,530
Bedrooms	2
Bathrooms	1 full, 2 partial
Floors	3
Parking	2
Lot Size	Unspecified
HOA/Maint	$146 per month

DESCRIPTION

LOVELY 2 BEDROOM TOWNHOME * PERGO FLOORS IN FOYER, DINING ROOM, LIVING ROOM, HALF-BATH AND STEPS * FIREPLACE IN LIVING ROOM * DECK OFF LIVING ROOM * FINISHED BASEMENT WITH HALF-BATH WALKOUT TO FENCED BACKYARD * JUST MINUTES FROM I-95, COMMUTER LOT, SHOPPING AND SCHOOLS * GREAT PLACE TO CALL HOME * GREAT COMMUTER LOCATION * SHOWS WELL * BANK OWNED

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Fireplace
Living room	Bonus/Rec room	Dining room
Dishwasher	Refrigerator	Stove/Oven
Basement	Washer	Dryer
Balcony, Deck, or Patio	Yard

COMMUNITY FEATURES

Clubhouse

Fitness center

Swimming pool(s)

ADDITIONAL PHOTOS

Seller contact info:

Rita Gibbons

Linton Hall Realtors

rgibbons@lintonhallrealtors.com

571-330-0741

For sale by agent/broker

Equal Opportunity Housing

Posted: Dec 15, 2007, 4:47am PST

Tips to Update your Home (without breaking your wallet)

Rita Gibbons Virginia Hometown Realtors (Linton Hall Realtors) — Wed, 26 Dec 2007 18:19:20 -0600

Long before you plan to sell your home, you should think of updating the home - so you can enjoy the updated home before you sell it! Everyone loves to update their homes, and if you live in an older home in an appreciating neighborhood, it can be a fantastic investment. There are some pitfalls to avoid, which can cost a homeowner quite a bit of money because of no return on investment. However, it's better to focus on what TO do and stay the course.

1. Raise the Roof!!!

Not literally, but gut the attic, and raise the ceiling in, at least, the living room. Older homes typically have 8 foot ceilings, and it's one of the first characteristics that buyers notice. It's relatively inexpensive, when you compare your return on investment, to demolish the ceilings of your older home and sheetrock over your new, vaulted ceiling. It's amazing how much larger and lighter your home will feel.

2. Knock Down Walls

Literally, knock down as many walls as you can and still retain the integrity of the home, and the NECESSARY separation of rooms. If you compare older homes to newer homes, you'll notice that older homes are typically "choppy" while newer homes feel "open and flow well." This is due to "line of sight." Newer homes opt for less separation in rooms. You can create this same feeling by demolishing a half-wall that separates your kitchen from the living room or knocking down the wall between the living room and dining room to create one grand room. You'll be AMAZED at the difference it makes.

3. Overhaul Your Kitchen and/or Master Bathroom

These are the two rooms in the house that you can ALMOST go overboard and still get your money back when you sell the home. Refinish or replace the cabinetry, put in new tile and sinks - even install a new, stand-up shower! When (or if) you put your home on the market, you should see a GREAT return on investment.

4. Add a Master Bathroom

The 1-Bathroom houses from the 1970's and earlier are now obsolete. Americans have decided that we like a private bathroom for ourselves and another bathroom for our guests and children. While 90% of the house additions are bad ideas because they don't flow well or create poorly usable space, a master bathroom addition is a fantastic way to add more square footage, and more value to your home. Make SURE that your builder ties in the new slab to the old, and make sure that the addition is done properly. A poorly designed or executed addition never adds value - most buyers immediately imagine demolishing the work.

5. Xeriscape Your Lawn

It's trendy, it's cheap - it should be a go! Your homes curb appeal is the first thing that buyers notice, and it's how buyers decide whether or not they'll "click on your house" online to further investigate the interior. You can xeriscape a ¼ acre lot for around $3000, and you'll more than make up for that when your home goes on the market. Furthermore, it's environmentally & fiscally responsible. Stop wasting water!

6. Paint!!!

It's fairly obvious, but painting your home modern, neutral colors makes a HUGE difference in the appearance of the home. And when you factor in the cost - roughly $0.75/s.f. - it would be a HUGE mistake to forego painting your home when you decide it's time to modernize it. If you're planning on staying in the home for some time, paint it whatever colors you wish, but plan on repainting right before it's time to put it up for sale. If you plan on updating your home in order to sell it, go with neutral colors so that it will appeal to the widest audience.

7. Put in Wood Floors

You won't ALWAYS get your money out of installing wood floors. If you're in a great area, and it's time to replace the floors, look at the cost difference between tile, pergo, and wood. If your home will sell for $250k+ then forget about pergo and, if you choose tile, make sure it's not cheap tile. If the cost difference between wood and your other options is negligible, then go with wood - it appeals to the most buyers.

Updating your older home can be very fun, very rewarding, and potentially very lucrative. Older homes in established neighborhoods are ripe for updating and can draw a premium on the marketplace. Follow these guidelines, and you should see a great return on your investment.

Can you overdo updates - absolutely! Look at your neighborhood. This will give you an idea of how much you should spend on upgrades. Upgrading a kitchen is a good investment; however, you don't want to spend $50K in upgrading the kitchen if your house isn't going to command a return on that much of an investment. Make sure your upgrades are in line for the neighborhood.

Visit our website VirginiaHometownRealtors.com for more ideas and suggestions for updating, upgrading, and maintenance of your home.

10 Simple Rules of Thumb for First-Time Homebuyers

Rita Gibbons Virginia Hometown Realtors (Linton Hall Realtors) — Wed, 26 Dec 2007 18:03:08 -0600

10 Simple Rules of Thumb for First-Time Homebuyers

Handy tips and tidbits to help you make the big decision

Know what you can afford to spend. You'll find Qualifying Calculators on my site VirginiaHometownRealtors.com other sites such as Bankrate.com and E-Loan.com.
Find out if you qualify for homebuying help. The U.S. Department of Housing and Urban Development has programs to help teachers, firefighters and others buy affordable homes. Federal Housing Administration loan programs offer lower down payments to help first-time buyers. Go to HUD's website (http://www.hud.gov/) for details. Your lender may also be able to help with loan programs to assist with closing costs and down-payment assistance.
Get pre-qualified for a loan. First, get a copy of your credit history (free copies are available through AnnualCreditReport.com), then find a reputable lender.
Don't spend time looking at homes you can't afford. Staying only with homes in your price range reduces the temptation to over-extend your budget.
Realize the neighborhood you choose is at least as important as the house. Make sure you are comfortable there. While houses can be modified, finding a community that is a good fit for your family is vital.
Think about resale value. When you spot a home you like, consider how it will look to future buyers. For instance, proximity to a busy street can turn some buyers off.
Investigate ongoing maintenance costs and other factors such as taxes, insurance and utilities.
Have the house inspected, and carefully review the report. Come up with a negotiation strategy, remembering that the seller is obligated to fix a leaking roof but not a hole in the carpet.
Examine the Settlement Statement provided by your agent or lender, and ensure that you have enough cash to swing the deal when you go to settlement.

Visit our website VirginiaHometownRealtors.com for more information on buying a home, financing, credit ... and search MLS properties.

Buying your first home ...

Rita Gibbons Virginia Hometown Realtors (Linton Hall Realtors) — Wed, 26 Dec 2007 17:50:39 -0600

Buying your first home is an exercise in faith. You don't really know what you're getting into, you're bombarded with unfamiliar terminology and everyone you meet seems to have strong (and often contradictory) ideas about which way the housing market is headed.

You may not be able to avoid every home-purchase mistake, but you can keep your regrets to a minimum by avoiding these potential problems:

Taking advice about what you can afford

Your agent, your broker and your lender don't know what you can afford. At best, they know the underwriting guidelines for various loans, which are designed to minimize the lenders' losses, not ensure that you'll maintain your financial health.

Lenders know that you'll do whatever it takes to pay your mortgage, even if that means shortchanging your retirement, forgoing vacations and piling on credit card debt. You need to be the one to set limits on how much you want to borrow and how you borrow it. In general, limiting your housing costs -- including mortgage, property taxes and homeowner's insurance -- to 25% of your gross income will ensure you have enough money left over to cover other goals, like retirement savings.

Getting a 'temporary' loan

This potentially dangerous advice: Get a mortgage with a low payment now, then refinance in a few years when your income is higher. This is the way some brokers and lenders are hawking adjustable-rate mortgages as well as their more exotic cousins, interest-only and flexible-payment loans.

There are a couple of problems with this advice. The first and most obvious is that no one can predict where interest rates will be five years from now. If they're substantially higher, you will have just passed up the opportunity to lock in rates when they were near generational lows. If your payment has been rising with those rates, you may not be able to afford your home even if your income is higher.

The other problem if you opt for one of the exotic mortgages is that you may not be building any equity in your home. If prices drop, you may owe more on your house than it's worth, which is going to make refinancing pretty tough unless you can come up with a ton of extra cash.

More experienced homeowners who are disciplined about money might be able to handle a trickier mortgage.

For first-time home-buyers it may be better to opt for a loan that will remain fixed at least as long as you plan to be in the home. If you plan to move after five years, for example, a good choice might be hybrid loan that remains fixed for five years before becoming an adjustable-rate mortgage. If you'll be in the home for a decade or more, or aren't sure how long you'll be there, you might want to opt for the security of a 30-year fixed-rate loan.

You're locking in your housing costs for the next 30 years, if interest rates go up, your payment stays the same, and if they go down, you can refinance.

Opening or closing credit accounts

Both can hurt your all-important credit score, the three-digit number lenders use to help gauge your credit-worthiness. That can result in your getting stuck with a higher interest rate or losing the loan you want all together.

Failing to investigate the neighborhood

One common mistake is not looking at the property and the neighborhood at various times. Look at it during the day, the late afternoon when kids tend to cluster, at night and on both weekdays and weekends.

This ongoing inspection can reveal good news, bad news or both. You may find your home is on a popular shortcut for commuters or near the gathering place for local kids, but only for a few hours a day.

Something which you construe as a problem might only happen one day a week or at a certain time of the day. You may also want to quiz a few neighbors about what they like and don't like, and about which direction the neighborhood seems to be going.

Find out if there are any 'crazies' on the block, if there is empty space nearby, ascertain what the zoning is for that empty space. Is the next block over ... zoned commercial? Do you want a McDonald's as a neighbor?

Buying when you're not ready

Buying a home is a great way for the average person to build wealth over the long run, but it's not for everyone in all circumstances.

If your finances are uncertain or your job prospects are up in the air, you might want to wait. Renting is also a better option if you're planning to move in a year or two.

Not buying when you are ready

All that said, you shouldn't let fear or uncertainty keep you on the sidelines if you're otherwise ready to buy a home.

Be cautious if your market is showing signs of weakening, such as:

Properties staying on the market longer.
A widening gap between the costs of owning and the costs of renting.

Even then, don't put off a purchase if you're able to stay put for several years -- long enough to ride out any downswings.

In five or 10 years, prices will be higher than they are today.

Credit Myths ...

Rita Gibbons Virginia Hometown Realtors (Linton Hall Realtors) — Fri, 21 Dec 2007 22:59:52 -0600

CREDIT MYTH ... Disputing a credit report is easy. Any consumer can do it themselves.

•· Disputing a credit report is easy. Getting results from the credit bureaus as a layperson is amazingly difficult, complex, and infuriating. The Federal Trade Commission receives more complaints against credit bureaus than any other type of business. In February 2000 the 3 major credit bureaus paid a fine of 2½ million dollars for ignoring consumers requesting information regarding their file. Remember the credit bureaus are primarily interested in protecting their profits. Investigating consumer disputes consumes these profits. Short of sparking a mass number of lawsuits, the bureaus do everything in their power to impede your progress with credit restoration. Restoring your own credit is like repairing your own transmission or representing yourself in court; it is possible, but you have to be willing to invest the time to learn the processes, assume the risks of your inexperience and realize that it will probably take you longer and you probably will be less effective than a professional.

CREDIT MYTH ... If I build enough good credit, it will offset my bad credit and make me creditworthy.

• Any amount of bad credit is devastating to your chances of being approved by a creditor. The approval is almost never in the hands of a human sitting across a desk from you. It is a computer achieving a point total. The slightest amount of negative credit will cause an auto loans interest rate to skyrocket. Generally, even a little bad credit (regardless of the amount of good credit) will cause you to be declined.

CREDIT MYTH ... Nonprofit organizations like Consumer Credit Counseling Service (CCCS) can help me restore my credit.

• Nonprofit debt counseling services assist people who are over their heads in debt and are seeking an alternative to bankruptcy. CCCS are funded and controlled by credit grantors and credit bureaus. When you are working with CCCS your creditors will often note this on your credit report. This is a huge red flag for prospective credit grantors - treated the same as Chapter 13 bankruptcy. Some of the very worst credit reports that we see are or have been participants in the CCCS or similar programs.

CREDIT MYTH ... It is illegal for creditors to take off a negative-listing on my credit report. The law requires that these items remain on the credit report for at least seven (7) years.

• When you speak to credit grantors, collection agencies, or credit bureaus, their typically under-educated staff may tell you all manner of such pseudo-legal nonsense. The law "limits" negative information from appearing longer than the legal seven (7) year maximum. The credit grantor or credit bureau may choose to delete the item whenever they see fit.

Have you ever stopped to think what having BAD CREDIT is costing you? How much have you paid in additional fees due to your poor credit rating?

Visit our website for more information ... www.VirginiaHometownRealtors.com

Credit ... Did you know ... ?

Rita Gibbons Virginia Hometown Realtors (Linton Hall Realtors) — Fri, 21 Dec 2007 22:55:19 -0600

Your credit score affects about every aspect of your financial health!

Did you know that ...

•· Twenty-nine percent (29%) of credit reports contain serious errors, false delinquencies, or accounts that did not belong to the consumer.

•· Forty-one percent (41%) of credit reports contain demographic information that was misspelled, outdated or incorrect.

•· Twenty percent (20%) of credit reports were missing major credit, loan, mortgage or other information to demonstrate the credit worthiness of the consumer.

•· Twenty-six percent (26%) of credit reports contain accounts that were closed by the consumer but incorrectly listed as open (or) "closed by credit grantor."

•· Altogether, seventy percent (70%) of credit reports contain errors or mistakes.

Did you know that ...

where you live will affect your credit score - your neighbor's credit affects you!
if you move around - credit reporting companies consider you a "vagabond" and this adversely affects your credit score
when you dispute something on your credit report online - the credit reporting company never sees the dispute - they outsource the dispute (to another country) and your dispute is directly submitted to the creditor for verification!

For more information, visit my website at www.VirginiaHometownRealtors.com ...