Monica Hill, Delaware Real Estate's Blog

Wilmington Flower Market in Delaware Opens May 9th

Monica Hill, Delaware Real Estate (RE/Max Associates) — Wed, 01 May 2013 10:08:50 -0700

Each year as April winds down and things really begin to turn green here in Delaware, thoughts turn toward the beginning of the season of fairs, festivals, and great outdoor events. St. Helena's carnival was this past, last week, in April. Turning to May, the next event is...

The Wilmington Flower Market...

returning to Rockford Park for it's 93rd year. Benefitting numerous children's charities, this year's Flower Market will be Thursday through Saturday, May 9-11, 10am-8pm each day, including crafts, booths, rides, food, fun, and flowers galore. Each day's performance events are completely free!

http://wilmingtonflowermarket.org

If you live in the Wilmington area, put this one on your calendar!

Hey, Little Lady, You Have Nothing to Worry About!

Monica Hill, Delaware Real Estate (RE/Max Associates) — Tue, 30 Apr 2013 11:13:28 -0700

Real estate is a business of relationships. Sure, it's also about houses but it's fundamentally based on relationships. And relationships start with communication.

When I first speak with anyone I don't know, I start with a polite greeting, an introduction, and try to listen once I ask a question. Naively, perhaps, I thought that other people were aware of the words they use and the impact they have on other people. That is so very not true.

I contacted a client a few days ago whose house is just about ready to go on the market. As they've been doing all the decluttering and repairs, we've also been discussing their neighborhood values and properties that are helping or hindering value. One house that's been a problem for the neighborhood has been so due to tenants at that location that have been vandalizing other properties.

All of this resulted in a phone call from that owner, a Realtor, to my client. It was meant to assure her, but it started like this, "Hey, little lady. You have nothing to worry about."

When she relayed that to me, it really got me to thinking how very much our words DO matter. You might think the words you use are no big deal, but in this case, they potentially are. That grating "little lady" comment might well come back to cause him more trouble. Hearing it reminded me of the times I've talked with Realtors who have, during the first conversation, referred to me as "babe" or "hon" or "doll." You have to know me a BIT longer than two minutes to be in that close of a relationship with me.

Next time you're talking with someone you don't know, just stop and think before you talk.

Otherwise, the response on the other end of the phone might just be...

Sure, BABE.

No problem.

*click* as in dial tone.

Growing Frustrations with Chase in Reference to Short Sales

Monica Hill, Delaware Real Estate (RE/Max Associates) — Tue, 16 Apr 2013 11:33:30 -0700

You'd think after 13 years of working short sales, watching the industry evolve a bit, that we'd have a brightening picture when it comes to communication, time frames, approvals, etc. However... I'm not finding that to be the case. When I did my first short sales years ago, I'd have to fight constantly for my commission, have to have the same conversation over and over, but I actually had a person I could reach on the other end of the phone, someone for whom you could leave messages, someone to whom you could even send an email. Now, that's not always true. Newer systems like Equator allow some of the companies to hide behind walls to a certain extent. That's not to say that some companies or at least some negotiators, don't work very well with systems like Equator, but many inefficient or at least untrained people are working in those gate-keeper positions.

I'm on my second in a row short sales with Chase, having the same problems with lack of communication. I send the information in and wait for someone to be assigned. Someone is assigned and I try to reach them. They're not in but someone else answers the phone. I can't leave a message for the person with whom I should be talking, can't talk to a supervisor, can't do much more than vent to the person who was fortunate (ha ha) enough to have gotten me on the other end, and am hopefully offered the chance for them to email the person with whom I want to talk. Today, for example, the processor I need to talk to wasn't in... hasn't been in in three days... not sure when she will be in. If I call tomorrow and she's not there, the best I can do is leave the same message. Their escalation department? No help. All they can do is look at the file but they can't escalate anything.

How I WISH that we could have a forum of Realtors and negotiators who are processing short sales, along with representatives from the various mortgage companies so that we could devise systems that actually work. What a concept!

So for now, the best I can do is educate my clients and my co-brokes and hopefully prepare them for the road ahead, even if I can't see which way it's going.

What are the Steps to Take in Selling My House?

Monica Hill, Delaware Real Estate (RE/Max Associates) — Sun, 03 Mar 2013 16:57:56 -0800

"We're thinking of putting our house on the market. What should we do first?"

I'm always happy when my clients call and ask me this so we can review their situation and allow them to operate from a position of strength.

First is the biggest question. Why are you moving? That will help to determine what you need to do first. If you're selling in order to make a purchase, then the first thing to do is assess your financial position. If you've got enough cash to purchase without a mortgage, great, but if you're going to need to finance the purchase of your next home, then the first thing is to talk with a reputable mortgage company, broker, or your bank. Get the true picture of what you'll need to purchase and what your monthly payments will be.

Next, we need to meet. I'll review the sales of other comparable homes with you so you can get a sense of the range within which your home is likely to sell. You can also hire an appraiser to give you an even tighter number for the value. Plug that number into what the loan officer tells you and the financial picture comes into focus.

If you've got the right level of comfort with the finances, then we need to assess your home. What does it need to make it ready for the Buyer? You're most likely aware of some repairs needed, but a pre-listing home inspection will tell you about any other defects you need to repair or address or disclose.

And now it comes down to what truly sells the home. Declutter, depersonalize, and make it shiny and bright. Take a look at your house from the curb, as though you're driving up for the very first time. What impression does it make? Is the landscaping neat? Is the siding clean? Are metal finishes shiny? Not that someone is going to walk up and say, "My, how they shined up the brass name plate just for our visit!" but a dull, dingy, or dirty exterior sets a negative tone right from the start.

A stager can be a great asset when it comes to readying your house for sale. The traffic pattern that you've grown accustomed to can be restyled to sell the home using the furnishings you already have.

Clean windows, shampoo carpets, take down personal photos, minimize what's hung on the walls, take down the kids' stuff that's clipped everywhere. The custom painted family tree on the wall? Either paint over it or remove it and replace the wall. Thin out the closets. Clear off the countertops. Pets in the house? Make them invisible, both in terms of damage or dirt AND in terms of odors. Smoker? Not anymore, at least not in your house. You need to treat it as the valuable item that it is and make it feel just that valuable to all who enter. Fresh flowers, fresh towels, a bowl of mints all add up to little touches that tell potential buyers that you not only expected them but you welcome them.

Remember if you put your best foot forward you shouldn't have to put it out there long and your house will be sold!

What's More Important, Purchase Price or Monthly Payment?

Monica Hill, Delaware Real Estate (RE/Max Associates) — Sat, 02 Mar 2013 20:48:35 -0800

What's more important, the purchase price or my monthly payment?

When you begin the process of looking for a new home, there are several factors to consider. Realtors will tell you there's just one. Location, location, location.

But once you zero in on the right location, right size, right style, the really important decision should be financial. Unless you're a cash buyer, how much you pay for the house will be felt every month in the resulting mortgage payment. Even if you're approved up to a certain amount... let's say $300,000... do you really want to make that resulting monthly payment? I don't advise my clients to buy right up to the limit. I don't want them to have to choose between making the mortgage payment and taking their family on a weekend getaway. And much as I love working with my clients, the last thing I want is to work with them again too soon because they bought a house that stretched them too much financially.

In the end, it's your finances, your budget. The mortgage company will pre-approve you for a given amount but no one will know as well as you if the monthly amount is one you can live with. The right house will be there for you, at the right price.

My Solution to Short Sales

Monica Hill, Delaware Real Estate (RE/Max Associates) — Fri, 01 Mar 2013 11:28:03 -0800

I have the best solution ever for short sales.

How about if the banks incentivize the system? They could award incentives to their processors and negotiators who get short sales done efficiently AND quickly.

Those people tend to be underpaid and overworked but are grateful to have a job.

Give them the ability to be truly rewarded and get the short sales processed in a timely manner.

Wouldn't that be amazing?

How Much Money Do I Need?

Monica Hill, Delaware Real Estate (RE/Max Associates) — Fri, 01 Mar 2013 05:43:00 -0800

I've been working with a Buyer for several months. We've actually written a few offers already but nothing has come together. As with all my Buyers, we've reviewed the process from A to Z but while out looking at a property the other day that he really likes, I realized that some of the things we've reviewed just haven't sunk in yet.

I like check lists and furnish them to my clients. Lists of things they need to do, lists of things they can expect. What I hadn't furnished yet though was a list of costs associated with being a home owner. Now I have one.

There are the obvious costs of the Mortgage Payment, Homeowner's Insurance, and Property Taxes. And there are what I thought were obvious costs but really might not be for the first-time buyer. Plus, if you're renting right now, a lot of things might be included in your rent.

Therefore, here's the list!

o Mortgage payment (which may include your homeowner's insurance and property taxes)

o Electricity

o Fuel (gas, oil, propane or electric powered heat)

o Water (public, private, or well)

o Sewer

o Trash (if not covered by your property taxes)

o Telephone

o Television (cable, via your phone provider, satellite)

o Internet

o Homeowner's Association, Condo Fees, Neighborhood Association

o Security system

o Maintenance (interior and exterior)

o Tools (for interior and exterior... things like a lawnmower, clippers, and tools for minor jobs in the property, too)

o Appliances (if they're not included) and maintenance of them

o Window treatments (if they're not included)

And whenever you move, there are always incidental costs of the move itself plus furnishings. Make your own list and then move forward with confidence in your purchase. With rates as low as they are, if you keep yourself within your buying budget, all the rest will fall into place.

Need Help with a Chase Short Sale

Monica Hill, Delaware Real Estate (RE/Max Associates) — Wed, 20 Feb 2013 15:56:52 -0800

I'm looking to the Active Rain community of Short Sale specialists for help.

First.. I've been handling short sales for about 13 years, so I've watched the changes in this process across the board. But I've come up against yet another road block with a lender that has me baffled.

One of my current short sales is with Chase. Single lender, no additional liens. This is not HAFA eligible, nor is it one where the lender wanted to suggest the initial offering price. We kept in touch with Chase throughout and when we were at $100,000 for an asking price but getting offers at $50,000, the Chase contact suggested we lower the asking price to $92,000. We did that, got an offer that was close to that, and the Seller signed off on it.

Then the waiting began. All of our documentation was submitted to Chase back in November. Along the way, Chase started using Equator. No other word to us of approval or denial, just the switch to Equator and yes, they had all the documentation and no, we shouldn't load or send anything until they asked for it.

January rolled around and around the second week, I got a call that we'd have a decision the following Wednesday. Wednesday came and went, and so did two more weeks. So now it's February and we're told it's on the desk of a new person. She informs my assistant that she had 40 or 50 files land on her desk that Monday. We politely asked her to please review our file. On Friday, we received word from her supervisor that our short sale was denied due to a missing bank statement. No phone call or email or message to us asking to have that supplied, just a flat out denial.

When I called to get clarification, I was told that the file has been assigned to a new negotiator and that we have to start all over again.

Has anyone had similar problems with Chase? I tried Tweeting about it but that did no good. (When I've Tweeted about BofA problems, it has met with swift accelleration and solutions.)

Somehow, we still have a buyer waiting through this morass with us, but this feels SO much like short sales from about four or five years ago... not current day scenarios.

~Monica

Words Matter

Monica Hill, Delaware Real Estate (RE/Max Associates) — Tue, 19 Feb 2013 05:37:49 -0800

Words matter.

I belong to a yahoo group called freecycle. Great group to join if you like to re-purpose things. You post things you have to give away, people respond (politely, you hope), and you arrange details of how someone gets the item. So I posted an item today and one of the myriad responses was this:

Do u still hv pls

Really? You can't even write the question using complete words, let alone signing it with your name? If I want someone to give my response a leg up over the competition, I think I'd write a bit more... professionally. Well, at least they did say pls.

I was TEMPTED to respond... n g

but resisted.

I find the impulse to abbreviate words permeates business, too. I can weather through it when it's a client, though I do respond and clarify so there's no question down the road about the exchange of thoughts. What throws me though is when you get the abbreviations from a co-broke and with no name signed. My first thought is always, "What did they mean?" And then my next thoughts run the gamut of being polite in my response, to rereading it before I hit "send," to clarifying the message so that ultimately, I've protected myself and my client.

wrds mtr

dey rly do

Oh sorry.

Words DO matter.

They Will Never Go Away

Monica Hill, Delaware Real Estate (RE/Max Associates) — Sun, 10 Feb 2013 09:15:06 -0800

I received another email today, like so many I've gotten before, that is a scam. Just in CASE there are any of you who are not aware that these are scam emails, the entire email is at the bottom of this post. I'm curious how many other AR members received this.

If you've never gotten one before, don't fall victim to it.

Just hit delete.

~Monica

Email Address: Subject: Message:

Mr.Richard Phillips

richard_ph28@yahoo.com

INVESTMENT

Dear:Sir/Madam

INVESTMENT

Please allow me use this opportunity to introduce myself. I am Richard
Phillips, an investor based in UK, the General Manager of a prominent Oil
and Metal company. I saw your contact over the internet, and I am
interested to do business with you, because I really want to invest into
Real Estate Development and sales in your country under your jurisdiction,
can you be able to handle it. I will give you more details once I here from
you. I look forward to your favorable response on this matter.

Best Regards
Mr.Richard Phillips.
Email:richard_ph28@yahoo.com
Tell:+447 024 0938

Is the Buyer of your Short Sale an LLC?

Monica Hill, Delaware Real Estate (RE/Max Associates) — Wed, 30 Jan 2013 13:33:31 -0800

Bank of America sends out short sale guidelines on a regular basis. Today's email was a reminder that if the Buyer of your short sale is a Limited Liability Company (LLC), there are additional documents that are required in order to complete the sale. Getting these (and all) documents in quickly helps ensure a smoother short sale.

LLC required documents include:

* Fully executed Articles of Incorporation/Organization AND Operation Agreement (contains Members Agreement which lists Officers and their ownership interest in the company)

* Proof of funds in the LLC's name

* Proof of the Buyer's connection to the LLC

Similarly, if the Buyer is a corporation, you'll need the Corporation's Articles of Incorporation, List of Shareholders and Officers, Proof of funds in the Corporation's name, and Proof of Buyer's connection to the Corporation.

For listing agents, make sure all the documents you submit from the Seller are complete, e.g., tax returns signed, all names/addresses/loan numbers, etc. filled in. Even one missing signature can delay the whole process.

You Wanted What?

Monica Hill, Delaware Real Estate (RE/Max Associates) — Tue, 29 Jan 2013 05:01:35 -0800

A wife asks her husband, "Could you please go shopping for me and buy one carton of milk and if they have avocados, get six."

A short time later the husband comes back with six cartons of milk. The wife asks him, "Why did you buy six cartons of milk?"

He replied, "They had avocados."

I got a real chuckle out of that when I read it but it underscores the importance of words. Writing up an offer? Be specific with what your client wants. Writing up findings from a home inspection? Be specific. Though the aspects of our profession vary from one locality to another, be cautious with the way you put things in writing. When in doubt, turn to your local experts (your Broker, an attorney, the home inspector, etc.).

A directive as a result of a home inspection to "fix the damaged outlets" is sort of gray. I actually received this on one of my listings where the wiring was aluminum and some of the outlets weren't performing well. I talked with my electrician who said it would cost just as much for him to look at every outlet as it would for him to pigtail all the wiring while he was inspecting them. We went for the pigtailing.

"The offer is contingent on the sale of Buyer's property." Does that mean contingent on the completion of the sale... or contingent on the Buyer going to contract on their property? Could be either.

Watch the words you use in your transactions or... you could end up with six cartons of milk when what you wanted was avocados.

Short Sale Restrictions - Be Informed!

Monica Hill, Delaware Real Estate (RE/Max Associates) — Mon, 21 Jan 2013 08:39:20 -0800

Attention Real Estate Investors:

If you purchase a short sale and the Seller's investor is Fannie Mae or Freddie Mac, be aware that you, as the buyer, are prohibited from selling the property for any sales price for a period of 30 days from the date of the deed.

After a 30 day period, and until 90 days from the date of the deed the buyer is further prohibited from selling the property for a sales price greater than 120% of the short sale price.

Note: The above restrictions will run with the land and are not personal to the grantee.

These are being advertised as new regulations, but I've personally seen these in effect for a while.. at least the last year.

Short Sale Sellers - Relocation Assistance:
If the Seller's investor is Fannie Mae or Freddie Mac, the Seller (borrower) may be entitled to an incentive payment of $3,000 from Fannie Mae/Freddie Mac to assist with relocation expenses following successful completion of a short sale unless:
The borrower is required to contribute funds or execute a promissory note.
The borrower has Permanent Change of Station (PCS) orders and receives a Dislocation Allowance (DLA) or other government relocation assistance.
The servicer has knowledge that the borrower is receiving relocation assistance from another source other than the servicer.

Note: If the borrower receives relocation assistance from a source other than Fannie Mae / Freddie Mac or the Servicer, the difference in the relocation assistance amount up to the $3,000 incentive maximum may be provided. If the borrower will receive relocation assistance from a source other than Fannie Mae / Freddie Mac or the Servicer and the amount is equal to or greater than $3,000, no relocation incentive will be provided.

Sellers, be sure to check the requirements for this, specific to your own sale. If you move out too early, you might not be eligible for the assistance.

.......

The long and the short of it? If you're buying a short sale, be aware of any restrictions on the purchase. If you're selling short, get the details. It really pays to work with a REALTOR who knows short sales.

Selling short? Interested in buying short sales? Call me. I've been working with short sales on both sides for thirteen years. It really does pay to work with an experienced REALTOR!

Name That Document!

Monica Hill, Delaware Real Estate (RE/Max Associates) — Thu, 18 Oct 2012 14:15:44 -0700

Name That Document!

In our technologically-driven field, the need to transmit documents electronically is constant. When you send something, be sure to name the document and to specify the subject in your email.

It's challenging when you scan something and the computer or printer assigns the file a long-stringed numeric code. The first thing I do when I receive the transmission is to rename the file. I usually name it with the property address and then the specific document name. For example, "123 Main St - Seller's Disclosure." Whenever I send that document, it's easy for me to remember what I'm sending and for the recipient to identify it quickly.

Bank of America sent an email today with their "Standard Document Naming List." As they pointed out, it's crucial to name the documents accurately so they can be located easily and quickly and so they don't cause processing delays. Follow the guidelines for the bank in question, naming the document what the bank has already called it.

Based on their email, I'm going to add the date to the end of the names of the files now, too. My example above will become "123 Main St - Seller's Disclosure 10-18-12."

Simple, I know, and probably most of you are already doing this. If you're not, and especially if you're just now venturing into the arena of short sales, it's going to be crucial.

Stockings for Soldiers 2012

Monica Hill, Delaware Real Estate (RE/Max Associates) — Tue, 02 Oct 2012 06:49:14 -0700

On Monday, October 15th at 6:30 P.M., the doors of the "Stocking Store" will open for the 9th consective year and work will begin on sewing and decorating thousands of Christmas stockings. Over the next seven weeks, each stocking will be personalized with the name of a brave young man or woman in uniform who is serving our Country half-way around the world. Stockings will then be stuffed with goodies, boxed up and shipped to troops in the remotest regions of Afghanistan.

Last year, over 500 great volunteers helped us to mail out 1,550 boxes packed with over 10,000 homemade, personalized Christmas Stockings that were filled with over 45,000 pounds of Goodies. We also made and shipped 2,500 polar fleece blankets and 1,000 knitted hats for our troops.

Want to help? You can knit wool caps (not acrylic... they are used as helmet warmers for our soldiers in the frigid conditions in the mountains), sew stockings, donate DVD movies (gently used are fine), donate items to be placed in the stockings, make a cash donation to help cover the cost of shipping, or if you're local, show up and help stuff the stockings!

The website has more details, including a list of things that go in the stockings:

http://www.stockingsforsoldiers.org/

Microwave Mentality

Monica Hill, Delaware Real Estate (RE/Max Associates) — Mon, 01 Oct 2012 12:08:29 -0700

Microwave Mentality

Technology has made access to information so fast that people forget to be realistic in their expectations. Just because you can access information online in a microsecond, doesn't mean that people can respond to you that quickly. And access to information carries a certain level of responsibility for the one who's seeking the information... to actually read the directions, or listen to the instructions, or give someone the grace of a day, or even two, to respond.

Duty phone calls this weekend prompted these thoughts today. Several agents called our office and the calls came to my cell phone. When people call our office and no one is available to answer the phones, the message is very clear. It's essentially a "thanks for calling" followed by your options: Dial the direct extension if you know it, press "8" for the Agent on Duty, press "9" for the company directory. (You know where this is headed if you've ever taken duty calls.)

First the agent who wanted to talk with a listing agent about his property to set up a showing. When she looked in the database and/or called the appointment center, she was instructed to contact the listing agent, which she'd done and left a message but hadn't heard back. Thus the call to me, the Agent on Duty. I told her that she had to talk with the listing agent, not me. She said, "but you're the agent on duty" and I said... I can't get you access to the properties. Each agent sets up access for their own listings. What you CAN do is to call back in and press "9" for the directory (she had caught me out of the office on my cell). Her response, "Great. My day just keeps getting worse and worse." Really? And whose fault might that be?

Next call... Agent who wanted to talk with a specific agent (she cited his name wrong but close enough that I knew who she meant). I tried to tell her that I was the agent on duty and was not in the office but that she could call back in and get him directly by dialing 9 but she kept talking and talking and TALKING. She went on and on about him setting up a showing of one of her listings for Tuesday and how she wanted to give him a heads up that they had an offer and were in the middle of negotiations (and I'm thinking... Do NOT tell me anything that's confidential) so I just told her to "Stop." Yet she kept talking. " "Stop." She talked on. "STOP." "More information about the transaction. "STOP! STOP! STOP!"

She stopped and I said, "You should NOT be telling me these things. You need to tell them to the Agent you wanted to reach, not me. And to do that you HAVE to call back in and access the directory."

Not the answer she wanted but... if she'd just stopped to LISTEN when she first called our office, all of her answers would have been right there, as close as the number 9.

And then the call from a potential client about a rental.

Who is the Agent? I asked.

I don't know... was the response... but I left a message yesterday and no one returned my call.

I called the potential rental client back today, after discovering who the listing agent is but the client's response? "It took you too long to get back to me so I won't be working with you. I'll call someone else who will return my call."

hmmmmm

Thought that's what I just did for him... returned his call.

Just because you're in a hurry doesn't mean the rest of the world is on the same pace you are.

What I CAN do and will do is tell you what I'm capable of, respond in a timely fashion, and get you the answers you seek... or let you know that I do not know but will help you, as I'm able, to head toward the proper source. And I will call you back. And I will help.

Think Before You Speak

Monica Hill, Delaware Real Estate (RE/Max Associates) — Fri, 31 Aug 2012 06:24:45 -0700

Think Before You Speak

I just read a post by The Christensen Team about so-called professionals using profanity

http://activerain.com/blogsview/3426922/when-realtors-attack-

and was reminded of a situation.

Years back, a boss of mine walked into work one day and, tapping a brochure in his palm, stated proudly, "Monica, I found the perfect seminar for you. It teaches women how to curse in business."

I was dumbfounded.

"And why would I need that?" I responded.

"Because I've never heard you f#@*% curse once and it makes you look stronger in business," he proudly replied.

Pausing for a moment and looking at him directly, I calmly said, "If for every f-bomb you drop, I can use at least ten other words that are far more descriptive or accurate, who looks smarter and stronger?"

Slipping the brochure into his suitcoat pocket and turning to walk toward his office, he said, "Point well made."

In addition to maintaining your composure and command of a situation, you never know how your words will be received. If a casually dropped profanity, let alone one delivered with anger, causes damage to the person who receives it, you'll only heap more problems on top of the situation at hand.

As one of my brothers once told me, "Before you put your mouth in action, be sure to put your brain in gear."

Arden Fair is THIS Saturday!

Monica Hill, Delaware Real Estate (RE/Max Associates) — Thu, 30 Aug 2012 07:45:51 -0700

The Arden Fair is THIS Saturday!

The Arden Fair in Arden, Delaware (north of Wilmington) will be held this Saturday. For over a hundred years, locals have visited the artisans community to enjoy arts, crafts, food, music, antiques, health and wellness practitioners, children's games and rides, a plant sale, and a book sale. There's something for everyone!

The 105th Arden Fair will be
Saturday, Sept. 1, 2012
10:00 a.m. to 6:00 p.m
in Arden, Delaware

The Fair is the Arden Club's premier fund-raiser of the year, providing funds for maintenance of the Gild Hall and other community activities.

Come on out and enjoy the fun!

http://old.ardenclub.com/ardenfair.htm

Put It In Perspective

Monica Hill, Delaware Real Estate (RE/Max Associates) — Thu, 30 Aug 2012 05:59:47 -0700

Put It In Perspective

Far too often in transactions, the details of the moment become so huge that we, or our clients, or our co-brokes, fail to see the forest for the trees. The unforeseen item left behind by the Seller that looms HUGE for the new owner. The one small item on a home inspection that costs under $100 to repair but becomes a giant obstacle in the negotiations. The defect that surfaces after possession and the tempers that flare as a result. The rude co-broke. The microwave mentalities that want everything now, expecting you to drop everything.

And then today, my sister saw something at the airport that really puts it all in perspective. There to drop off an item to be shipped on a flight, she was moved to tears by another "shipment." The body of a soldier, with her escort standing beside the casket. The young soldier was engaged to the escort's best friend, so what a tragic voyage to have to take, what sad closure.

I try to always help my clients see the big picture, and to diffuse the situation when emotions ignite flaring tempers. Today, I think I'll try harder to do that a bit better, to keep things in perspective. There are things and people that are worthy of our emotions ... like that soldier who gave her life in service to our country.

Short Sale Ahead: CAUTION!

Monica Hill, Delaware Real Estate (RE/Max Associates) — Tue, 24 Jul 2012 06:19:35 -0700

Short Sale Ahead: CAUTION!

In the ever-evolving world of short sales, and ever-increasing, I've discovered a few new trends:

u Realtors who list a house for sale that's a Short Sale and then have their own Sellers negotiating with their bank/lender. Wow. Really? You're willing to take on a listing, subject the potential Buyers to being married to the transaction for who knows how long, and then put it in the hands of the people who are the most stressed emotionally? If a Seller wants to take on the bank directly to negotiate, they certainly have that right, but I want no part of that listing. One offer a client of mine made turned out to be just that scenario, despite what I had been told originally by the listing agent. The Seller simultaneously signed multiple offers, thus being potentially contractually obligated to sell their house to multiple parties, and didn't understand any of the process or ramifications.

u The Seller's lenders are looking at social media to help determine if the deficiency should be waived. Just like in a purchase where you warn your client not to make any purchases between the time of going to contract and completing the purchase of their house, you need to warn Sellers of Short Sales to be cautious about the content they post on Facebook, Twitter, and the rest. If you're asking the bank to release you from a deficiency judgment but you post pictures about your new boat, or your recent trip to Hawaii, the bank might not be so likely to see any hardship.

The message is clearer than ever, Sellers. Consult with a Realtor who understands the Short Sale process and who will work to stand in the gap for you, negotiate for you, and get you through the process as cleanly as possible.

Things That Go Boom in the Night

Monica Hill, Delaware Real Estate (RE/Max Associates) — Thu, 28 Jun 2012 11:05:56 -0700

Things That Go Boom in the Night

I just read the Horizon article "7 Things in Your House That Could Explode" and thought it was well worth sharing.

http://www.horizonservicesinc.com/blog-posts/heating-services/7-things-in-your-house-that-could-explode

Your water heater can explode.

Not sure if most people know it but the pressure relief valve should be replaced every three years. I think most of us have a hot water heater installed and then as long as we have enough hot water, we tend to ignore it until say... 14 years later... when it leaks and we install a new one.

Flour is Flammable.

Really? This almost makes me want to go home and experiment.

Safely.

Outside.

Away from my house.

Gas Grills Can Explode

I thought this was common knowledge but it's a good reminder.

An equally good reminder is to NEVER fire up your grill right next to your house, especially if it has vinyl siding. We've all seen the warped remnants from that in numerous houses!

Gas Leaks

If you smell gas and you're not standing right over your gas stove that you've JUST turned on to cook, leave the house and call the gas supplier/utility company. Fight the urge to call them from your cell while you're still in the house. You know those warnings about not using your cell phone at the gas pump? They warn you for a reason. Cell phones and gas fumes don't mix. At least not well.

Read the article for the rest of the hints and feel free to share!

I hope the only "Boom" that you hear in the next week or so are amazing fireworks as we celebrate the independence of our great country!

Happy 4th of July!

The 1st Five Questions...

Monica Hill, Delaware Real Estate (RE/Max Associates) — Tue, 26 Jun 2012 07:26:51 -0700

THE First 5 Questions

Every Realtor

Should Ask a Prospective Buyer.

(And if you're a Buyer, ask yourself these questions!)

In many instances an agent may overlook the obvious when the excitement of obtaining a new buyer has us ready to jump in the car and run out to listings. Wait! These questions should be asked before you even mention of number of bedrooms. These will save everyone time and money!

1 - Do You Plan to Finance or Pay Cash for This Home?

(Let’s get this out of the way quick so you can move on to more qualifying answers.) If Cash – NICE – If Financing, more questions require answering.

2 - Have You Been Pre-Approved with a Local Mortgage Company?

If Yes – Find out who. If No, Keep with the Questions. Local can be crucial to a deal. Knowing the market can be very beneficial to your prospect and the success of the transaction.

3 - Is Your Employer Local or Will You Have to Commute?

Ask the question this way so as to not insult the buyer because you may not know if they are self-employed, have a job or they derive their income from other means. The key is to find out how they will make payments without insulting them. Some examples of answers that you do not want to hear – I am on unemployment, but looking for a job; I started my business 6 months ago; I am on temporary disability.

4- How Much Cash Were You Planning to Put Down?

If they give you a solid number or at least 5% of the price this lets you know that they have been planning to buy. If they do not, ask if someone in their family is planning to help. Zero cash = Zero Buyer!

5 – On a Scale of 1 to 10, with 10 being the Best, Where Do You See Your Credit?

If they say 9 or 10, they should be good and you can refer them over to your mortgage partner to get them pre-approved. If they say 7 or 8, ask them why they aren't a 10. They should tell you in there have been any bankruptcies or foreclosures.

If your prospect can come through these Top 5 Questions with sound answers, they are ready to be referred to your Mortgage professional for what should be a solid Pre-Approval.

Good Luck!!

For Questions or Pre-Approval Needs

Call Chris Rowe – 302-218-5833 or

E: crowe@Primeres.com

I Heard She Was Messy, But...

Monica Hill, Delaware Real Estate (RE/Max Associates) — Sat, 02 Jun 2012 07:14:11 -0700

I Heard She Was Messy, But...

We've all seen the signs in front yards while a contractor is providing a service... AAA Roofing... Electric Fence Company... Painting By the Pros... contractors who advertise that they're in your house providing a service in hopes that someone else who sees their signs will call and utilize their services, too. So seeing another sign didn't surprise me but... it was the tag line that did. I'll change the name to protect the (innocent?) so let's just say the company name was ABC Contracting but the tag line really did read "Disaster Kleenup." Momentarily forgetting that purposeful misspellings like that drive me crazy, it was the implications of the tag line that really made me laugh. What the heck had happened in that normal suburban home that deemed it a disaster? And would I want it broadcast to my friends and neighbors that my home was now a disaster? So much of one that I needed professional help to clean it up?

I can hear the conversations now... "I've tasted her cooking. It might have been dinner that did it." "Ohhh... I heard their child came home from college. You know what it looks like when THAT happens." "Have you SEEN the piles of laundry in that house?" "Hoarders has nothing on her. Have you seen her living room?"

I get it. Companies need to advertise their services but honestly, Disaster K... errrgg.. Cleanup? Maybe they could just tag it as Cleaning, or Home Services. There's no way I'd want their sign in my yard.

But maybe I really SHOULD clean up my living room, just in case.

Revival of Rockwood Ice Cream Festival

Monica Hill, Delaware Real Estate (RE/Max Associates) — Thu, 17 May 2012 15:52:38 -0700

The Rockwood Ice Cream Festival is Back!

After four years of withdrawal, Delawareans can celebrate the return of the much-loved festival thanks to native Delawarean, Barry Schlecker. Following in the footsteps of his other successes (the Brandywine Arts Festival which he rescued and took over last year and the Newark Film Festival) , Barry's strength in networking and expertise in event planning will culminate in a fantastic event.

Previously funded by our local New Castle County government, the festival drew to a close four years ago when the real estate transfer tax coffers that helped fund it shriveled. Last year, Schlecker approached the County with the concept of a private industry running the festival. The County Exec agreed.

With the theme of an Old Fashioned Family Picnic, the festival will feature artists, antiques, vendors, activities such as sack races and 3-legged races and of course... ice cream. Savor the frozen wonders from local dairies including the extremely popular Woodside Dairy, Hy-Point Dairy, and the new University of Delaware Creamery (part of the UofD Agricultural program).

Add to the day culinary creations from over 20 local restaurants, local craft beers, and live music ranging from regional indie bands to blue grass.

So grab a blanket and your best friend and head on down to the Rockwood Ice Cream Festival on Sat., July 7 (11a - 6p) and Sun., July 8 (11a - 5p). $5.00 for Adults, $1.00 for children under 12.

Rockwood is located at the intersection of Washington Street and Shipley Road. 610 Shipley Road, Wilmington, DE 19809.

www.RockwoodIceCream.com

Bellefonte Art Festival - May 19th, Bellefonte DE

Monica Hill, Delaware Real Estate (RE/Max Associates) — Tue, 15 May 2012 15:09:21 -0700

Bellefonte Art Festival - May 19 10am-6pm

If you live in the Wilmington, Delaware area, be sure to catch the Bellefonte Art Festival this Saturday, May 19th from 10am till 6pm on Brandywine Boulevard in Bellefonte, DE.

There will be approximately 60 art and food vendors, plus live music. Joanna Geroski of Eclectica (a terrific gift shop on the Boulevard) can't wait for the kettle corn! The day is everything in one package that represents the town, shops, and businesses of Bellefonte. Joanna's shop, Eclectica, will have many new handmade signs, jewelry, and home decor items. Joanna's been busy fluffing up the shop!

Enjoy the flavor of small town America in the convenience of the Wilmington suburbs. Enjoy Bellefonte!

Monica Hill, Delaware Real Estate's Blog

Wilmington Flower Market in Delaware Opens May 9th

Hey, Little Lady, You Have Nothing to Worry About!

Growing Frustrations with Chase in Reference to Short Sales

What are the Steps to Take in Selling My House?

What's More Important, Purchase Price or Monthly Payment?

My Solution to Short Sales

How Much Money Do I Need?

Need Help with a Chase Short Sale

Words Matter

They Will Never Go Away

Is the Buyer of your Short Sale an LLC?

You Wanted What?

Short Sale Restrictions - Be Informed!

Name That Document!

Stockings for Soldiers 2012

Microwave Mentality

Think Before You Speak

Arden Fair is THIS Saturday!

The 105th Arden Fair will be Saturday, Sept. 1, 2012 10:00 a.m. to 6:00 p.m in Arden, Delaware

Put It In Perspective

Short Sale Ahead: CAUTION!

Things That Go Boom in the Night

The 1st Five Questions...

I Heard She Was Messy, But...

Revival of Rockwood Ice Cream Festival

Bellefonte Art Festival - May 19th, Bellefonte DE

The 105th Arden Fair will be
Saturday, Sept. 1, 2012
10:00 a.m. to 6:00 p.m
in Arden, Delaware