Regiane Vigario's Blog

Bridgemill Investment Property

Regiane Vigario (Keller Williams Select Partners) — Thu, 26 Mar 2009 11:20:00 -0700

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Description and Features

Priced to sell 130k below the neighbors listing . Upgraded mahogany front door to this open foyer you will fall in love with.Instant equity over. Immaculate 5bd 3 baths , state of the art appliances, georgous fireplace with imported German logs. Security sytem owned, Corian counter top, hardwood floors and much more. Master bath has double vanity with a jetted tub and seprate shower. Dual zone heating and a/c. 9ft ceilings throughout the home with trey ceilings. Energy efficient thermal pane windows. If the interior isnt enough go outside and relax in privacy on the deck with a view of green space forever. Close to the Aquatic center and lighted tennis courts.

Bedrooms:	5
Bathrooms:	3
Parking Spaces:	2
Year Built:	200
Floors:	2
MLS #:	3874282

Location

Click to view map: 307 Lakebridge Crossing Canton GA 30114

Links

26 days of realtor vocab or H

Regiane Vigario (Keller Williams Select Partners) — Thu, 22 Jan 2009 06:25:57 -0800

H

Hazard insurance

Insurance protection for specified losses due to natural causes, such as fire, floods, earthquake, tornadoes, and other "acts of God"

Heir

An individual who will potentially inherit an interest in land from someone who dies

Hiatus

A gap or space between two parcels of lands that is not included in the legal description of either parcel

Home equity line of credit, or Home equity loan

A mortgage loan (usually not the primary mortgage) or line of credit which gives the property owner the option to obtain cash advances from the loan proceeds, using his or her residence as collateral, but which is not to exceed a pre-arranged amount of the owner's total equity in the property

Homeowners' association

A nonprofit association of individual owners of units in a multi-unit structure (either a planned unit development, or a condominium) that manages the common areas of that structure. In a planned unit development (PUD) project, the association holds title to the common elements, whereas in a condominium project, it holds no title to the common elements

Homeowner's insurance

An insurance policy available to residential real estate owners that protects homeowners against financial loss from fire, theft, public liability, and other risks

Homestead

Real estate that is owned and utilized as the primary family residence, protected in some states as exempt from the claims of creditors

Homestead deed

A document filed in the land records asserting a homestead exemption, protecting a variable amount of his assets (depending on which state) against the claims of creditors

Housing ratio, or Debt-to-income ratio

The percentage that results from dividing a borrower's housing expenses by his/her gross monthly income, used by the lender to evaluate an applicant's qualification for a loan

HUD-1 statement

The document used in closing a real estate transaction (also known as a "closing statement" or a "settlement sheet") which itemizes the funds that are payable at closing, including broker commissions, loan costs, and escrow amounts, and which provides a summary of the seller's net proceeds and the buyer's net payment at closing. It is required by the US Department of Housing and Urban Development (HUD) whenever federally-related mortgages are being made on residential properties

26 Days of Realtor Vocab or G

Regiane Vigario (Keller Williams Select Partners) — Fri, 16 Jan 2009 03:00:44 -0800

General warranty deed	A deed in which the grantor warrants title against all claims, offering the greatest guarantee of protection of any type of deed, and which is used in most real estate deed transfers of title
Ginnie Mae	The Government National Mortgage Association (GNMA), a United States corporation that guarantees privately issued securities backed by pools of mortgages insured by the Federal Housing Administration, the Farmers Home Administration, or the Veterans Administration
Graduated-payment mortgage (GPM)	A flexible-payment mortgage with monthly principal and interest payments that increase by a certain percentage each year for a certain number of years, and then level off for the remainder of the term
Grantee	The person who, by written document, receives title or an interest in real property from a grantor
Grantor	The person who, by written document, transfers title to or an interest in real property to a grantee
Gross Lease	The most common of residential leases, whereby the landlord pays for all property expenses incurred through ownership, such as taxes, insurance, repairs, etc.
Ground Lease	A long-term lease of land (usually 99 years) that allows the lessee to build and use the land as agreed in the lease, at the end of which, the land and any improvements revert to the owner
Ground rent	The payment made for the use of land when the title to the property is of a leasehold estate, rather than as a fee simple estate
Growing-equity mortgage (GEM)	A fixed-rate loan for which the monthly payments increase over a designated period of time, with the increased amount of the monthly payment being applied directly to the principal balance, thereby shortening the term of the loan
Guarantee mortgage, or Insured mortgage	A mortgage that is guaranteed against default by a third party (such as the FHA), and for which the borrower must pay an insurance premium
Guardian	An individual designated by the Court to protect and preserve the property of someone who is not able to manage his or her own affairs See "Conservator"

26 Days of Realtor Vocab day 6 or F

Regiane Vigario (Keller Williams Select Partners) — Mon, 25 Aug 2008 06:58:33 -0700

Fair Credit Reporting Act	A federal law that regulates the disclosure of consumer credit reports by consumer/credit reporting agencies, and establishes procedures for rectifying errors on individuals' credit records
Fair Housing Act	A federal law which prohibits discrimination in housing based on race, color, religion, sex, handicap, familial status and national origin
Fair market value	The highest price that a buyer, who is willing but not required to buy, would pay for a piece of property or home, and the lowest price that a seller, who is willing but not required to sell, would accept
Fannie Mae	The Federal National Mortgage Association (also FNMA), a private corporation which is federally chartered to provide financial products and services that increase the availability and affordability of housing, by purchasing mortgages from banks and other lending institutions; the FNMA is the largest non-bank financial services company in the world, as well as the largest resource for financing of home mortgages in the U.S.
Farmer's Home Administration (FmHA)	A federal agency that provides credit assistance to farmers and other individuals residing in rural areas of the U.S.
Federal Deposit Insurance Corporation (FDIC)	An independent federal agency that insures the deposits in commercial banks
Federal Home Loan Mortgage Corporation (FHLMC)	A corporation established to purchase primarily conventional mortgage loans in the secondary mortgage market
Federal Housing Administration (FHA)	An agency of the U.S. Department of Housing and Urban Development (HUD), whose function is the insuring of residential mortgage loans made by private lenders; while setting standards for construction and underwriting, the FHA itself does not lend money, or construct housing
FHA insurance	Mortgage insurance provided by the Federal Housing Administration to protect banks, savings and loans, and mortgage companies against loss on real estate loans
FHA loan	A loan insured by the Federal Housing Administration, and made by an approved lender in accordance with the FHA's regulations
Federal National Mortgage Association (FNMA)	A governmental agency established to purchase any kind of mortgage loans in the secondary mortgage market from the primary lenders
Fee simple	The greatest interest in a parcel of land that is possible, or the total interest in real property
Fiduciary relationship	A relationship of trust and confidence, as between principal and agent, trustee and beneficiary, attorney and client
Finder's fee	A commission paid to a mortgage broker for sourcing a mortgage loan for a prospective borrower
First mortgage	A mortgage that is the primary lien against a property
Fixed-rate mortgage (FRM)	A mortgage in which the interest rate remains fixed over the duration of the term of the loan
Fixture	Any item of property that is attached to real property such that it becomes a permanent part of the real property, and therefore is usually sold with it
Foreclosure	A legal proceeding usually initiated by the lender or creditors, involving a forced sale of a property owned by a borrower who has defaulted on payment of, or on the terms of, a loan on said property, and whereby the borrower is deprived of his or her interest in the property
Forfeiture	The loss of money, property, rights, or privileges due to a breach of legal obligation
Forfeiture of Title	The provision in a deed that accounts for title being passed to another, should certain terms not be met or certain circumstances occur
Freddie Mac	The Federal Home Loan Mortgage Corporation (also FHLMC), a private corporation that is federally chartered to purchases and sells mortgage loans; a major player in the secondary market, along with the Federal National Mortgage Associate (FNMA)
Front ratio	The ratio of a potential borrower's monthly housing costs to their gross monthly income, utilized by lenders to qualify an applicant for a loan; typically 28-40 percent is acceptable
Fully amortized ARM	An adjustable-rate mortgage (ARM) with a monthly payment that is sufficient to pay off the remaining balance at the interest accrual rate over the amortization term
Fully indexed note rate	Te index value at the time of application for an adjustable rate mortgage (ARM) plus the gross margin stated in the note

26 days of Realtor Vocab day 5 or E

Regiane Vigario (Keller Williams Select Partners) — Fri, 22 Aug 2008 06:17:36 -0700

Earnest money	A deposit made of a portion of the purchase price by the buyer to demonstrate his or her serious intent to purchase the property, usually accompanied by an agreement outlining the terms and conditions of the sale
Easement	The permanent or temporary right to use the property of another for a specific purpose -- e.g. for access over the property, putting up utility lines, etc.
Egress	The right to leave or exit over a piece of property
Eminent domain	The right of the government to take over private property for public purposes upon payment of its fair market value
Encroachment	A physical, illegal intrusion onto another's adjoining property; examples are a structure, driveway, fence
Encumbrance	Any claim against the fee simple title to a property, such as a lien, mortgage, or easement
Equal Credit Opportunity Act (ECOA)	A federal law that requires lenders and other creditors to make credit equally available without discrimination based on race, color, religion, national origin, age, sex, marital status, or receipt of income from public assistance programs
Equity	The owner's financial interest in a property, over and above any indebtedness for that property; or the difference between the fair market value of the property, and the amount still owed on its mortgage
Equity Sharing	A form of joint ownership between an owner/occupant and an owner/investor, whereby the owner/investor receives depreciation deductions as his portion of interest in the property, and the owner/occupant receives some of the tax write-offs for interest and taxes, as well as part of his monthly payment being applied against his rent. If the property were sold, the co-owners would also divide the profit
Escheat	Property that reverts to state ownership when an individual dies without a will and without heirs
Escrow	A deed, contract, or something of value deposited with a disinterested third party, to be delivered upon the performance of certain conditions by the parties involved; e.g., an attorney or escrow agent taking custody of funds and documents upon the closing of a sale of real estate
Escrow account	An account established by an escrow agent to hold funds for the agent's principal until the consummation of the transaction
Escrow instructions	A document that outlines the duties of the escrow agent and the obligations of the parties involved in an escrow transaction
Escrow payment; also "impounds" or "reserves" in some states	The portion of a mortgagor's monthly payment that is retained by the escrow agent to cover the costs of taxes, hazard or mortgage insurance, lease payments, and other costs incurred in the course of the transaction
Estate	An individual's possessions and property, relevant particularly at the time of death
Eviction	The legally directed removal of an occupant from real property
Exclusive listing, or Exclusive agency listing, or Exclusive right-to-sell listing	A written contract giving a licensed real estate broker the exclusive right to sell a property for a designated period of time, on terms stated by the owner, for a fee, while also reserving the owner's right to sell the property himself, without paying anyone a commission
Executor	A person named in a will, or in the absence of such designation, appointed by the probate court, to administer an estate and carry out its terms
Extended Mortgage	A mortgage in which the due date of payment is extended, and is usually charged at a higher interest rate than the original mortgage

26 Days of Realtor Vocab day 4 or D

Regiane Vigario (Keller Williams Select Partners) — Fri, 22 Aug 2008 06:16:23 -0700

Deed	A written document that conveys the ownership of real estate from one person or party to another
Deed-in-lieu, or Deed-in-lieu of foreclosure	A deed given by a mortgagor to the mortgagee when the mortgage is in default, to avoid foreclosure
Deed of trust	A written document that grants a trustee, in the event of foreclosure, the full power to sell, mortgage and subdivide the property in question
Deed Restriction	A clause in a Deed that limits the uses of the property (e.g., types or quantities of structures permitted)
Default	The failure to meet the legal obligations in a contract; in real estate, failure to pay mortgage payments as scheduled or to comply with other stipulations of the mortgage
Deferred interest	Interest on a mortgage which is delayed because the monthly payment of the mortgage is not large enough to cover the entire principal and interest due, and therefore is added to the loan balance See "negative amortization"
Deficiency judgment	A claim made by the holder of a note against the maker, in the event that a foreclosure sale does not bring in enough proceeds to fully cover the note and the costs of sale, for the difference
Delivery	The final, unconditional and absolute transfer of a Deed from seller to buyer, such that the seller cannot revoke the transfer of ownership; the Deed itself does not pass title until the seller delivers it to the buyer
Depreciation	A decline in the value of property, due to any cause; the opposite of appreciation Also an expense deduction taken for tax purposes over the period of owning income property
Devise	To dispose or convey ownership of real property via a will
Disclosure	A statement of facts made by the buyer about the condition of a property being sold and its surrounding area, required by law in most US states
Discount point	A unit of measurement used for loan charges, with one point equaling 1 percent of the value of the loan
Dower	The rights of a spouse to the property of their deceased spouse
Down payment	The amount of the purchase price of a property paid in cash (i.e. not financed with a mortgage) that is required to secure the property; typically 20%
Dual agency	Representation of opposing parties in a transaction (e.g. when a realtor is the agent for both buyer and seller); requires consent of both parties to be allowed, and is illegal in some US states
Due-on-sale clause	A provision in a mortgage allowing the lender to demand payment of the entire balance of the note if the mortgagor sells or otherwise transfers the property

26 Days of Realtor Vocab day 3 or C's

Regiane Vigario (Keller Williams Select Partners) — Mon, 18 Aug 2008 19:59:15 -0700

CC & R ' s	Covenants, Conditions and Restrictions; or the rights and obligations of individual owners of real property within a subdivision (or other tract of land where there is more than one owner of property) in relation to other owners, or to the organized association of owners, within the same subdivision, relative to the use and maintenance of the property commonly owned among them
Call option	A provision of a mortgage that allows the mortgagee, or lender, to require the mortgage to be due and payable for any reason at the end of a specified period of time
Cap	A limit placed on an adjustable-rate mortgage (ARM) as to how much the interest rate or mortgage payments may increase or decrease
Capital expenditure	The expense incurred making an improvement to a property in order to extend it useful life or to add to its value
Capital gain	Profit earned from the sale of an asset
Capitalization	A mathematical formula that estimates the value of a property, utilizing the rate of return on the investment and the annual net operating income expected
Capitalization rate	The rate of return a property will produce on the owner's investment
Cash-out refinance	A loan for refinancing a property which offers cash over and above what is needed to repay the first mortgage, closing costs, points and any other mortgage liens due. The additional cash can be used for any purpose
Caveat Emptor	Translation: "buyer beware", meaning that the buyer is responsible for inspecting any real estate or property before purchase for defects, as the seller is not required to disclose any problems to the buyer, though if asked outright, cannot conceal any defects
Certificate of deposit	A document provided by a bank or financial institution that is proof of a deposit of funds with that bank or institution, also promising to return the deposit plus earnings at a specified interest rate within a specified time period
Certificate of Eligibility	A document issued by the U.S. government certifying a veteran's eligibility for a VA guaranteed loan for a home or business
Certificate of occupancy	A city or county document certifying that a building is approved for occupancy, often required by insurance companies to insure the property
Certificate of Reasonable Value (CRV)	A document issued by the Department of Veterans Affairs (VA) establishing the maximum loan amount for a VA mortgage
Certificate of Satisfaction	A document recorded with land records and signed by the Noteholder of a property, showing release of a mortgage, deed of trust, or lien on that property
Certificate of title	A statement of opinion provided by a title company or attorney, based on examining public records, stating that the title to a piece of real estate is legally held by the current owner; because this certification does not cover matters not of record, it is no longer commonly used
Chain	A unit for measuring land equaling 66 feet in length
Chain of Title	The series of all historical title documents showing the succession of owners of a property, as evidenced in the land records, whereby it is proven that the present owner of that property in fact holds the title
Chattel	Personal property
Clear title	A document establishing ownership of a property that is free of any legal questions or controversies as to the current ownership
Closing	Also known as "escrow" or "settlement". The process of finalizing the sale of a property via a meeting of the buyer, seller and lender, at which legally binding documents are executed, money is dispersed, the deed is prepared, and ownership is formally transferred from the seller to the buyer
Closing costs	Expenses over and above the price of the property that are incurred by the buyers and sellers in transferring ownership of property, usually including property insurance, taxes, attorney's fees, an origination fee, an amount placed in escrow, title insurance, the mortgage insurance premium, points, and filing fees
Closing statement	A summary financial accounting of a real estate transaction disclosing all cash incoming, outgoing, and any charges or credits made
Clouded Title, or Cloud on Title	Any conditions revealed by a title search, usually during the sale of the property, that make the title to a piece of real estate controversial; can only be removed by a quitclaim deed, release, or court action
Coinsurance	A sharing of insurance risk between the insurer and the insured, and it depends on the amount of the policy and the actual value of the property insured at the time of the loss
Coinsurance	When more than one insurance company shares the risk of a particular transaction or series of transactions; lenders may require co-insurance on large commercial projects
Collateral	As asset pledged to secure a loan; collateral for a mortgage is typically the property itself
Co-maker	A person who takes on equal responsibility for the repayment of a loan by signing the promissory note along with the borrower
Commission	The fee charged by a broker or agent for negotiating a real estate or loan transaction, usually a percentage of the selling price of the property or amount of the loan
Commitment letter	A formal document issued by the lender, stating the terms under which the lender agrees to lend money to a homebuyer
Common area assessments	Fees levied against individual unit owners in a condominium or planned unit development project to generate additional capital to defray homeowners' association expenses, and to pay for repairs, maintenance and improvements to the common areas of the project
Common Interest Community (CIC)	An arrangement among property owners whereby they have mutual ownership of common areas of a property (e.g., condominiums, townhouses and planned unit developments) often through membership in an association
Common law	An unwritten body of law or ethical agreements, originating from general customs in England
Community Land Trust Mortgage Option	A financing option that enables lower or moderate-income buyers to purchase housing that has been improved by a nonprofit Community Land Trust, as well as to lease the land on which the property stands
Community property	In some US states, a recognized right of ownership, that any property acquired during a marriage as being jointly owned by both spouses, except that acquired as specifically personal for either individual
Comparables, or Comparable Properties	Properties that are similar in size, style, location and amenities to the property under consideration in an appraisal, which are used in the appraisal process to help determine the approximate fair market value of the subject property
Comparative market analysis (CMA)	A comparison of the sale prices of similar properties (e.g., size, style, location, amenities) in a given area, for the purpose of determining the fair market value of a property
Condemnation	The County or City determination that a building is dangerous for occupancy and must be demolished
Conditional-use permit	Written governmental permission given to allow a use of a property that is ordinarily inconsistent with existing zoning laws, but which is deemed necessary for the common good
Condominium	A system of individual ownership of units within a multi-unit structure, as well as joint ownership of certain common areas; each individual may sell or encumber his own unit within the structure
Conservator	An individual designated by the Court to protect and preserve the property of someone who is not able to manage his or her own affairs See "Guardian"
Construction loan	A short-term loan for financing the cost of construction of a structure, whereby payments are made to the builder usually in increments as the work progresses
Contingency	A condition that must be met before a contract is legally binding, or where one event or agreement is dependent on the fulfillment or completion of another event
Contract	An oral or written, often legally-binding, agreement between two parties
Contract for Deed, or Land Contract	A method of financing whereby the ownership of a piece of property or real estate remains in the seller's name as security until the buyer pays the purchase price in full
Conventional loan, or Conventional mortgage	A real estate loan or mortgage that is not insured or guaranteed by a government agency, such as the VA or FHA
Convertibility clause	A provision offered in some adjustable-rate mortgages giving the borrower the option to change the ARM to a fixed-rate mortgage at a specified point in time after the loan originated
Convertible ARM	An adjustable-rate mortgage that can be converted to a fixed-rate mortgage under specified conditions
Conveyance	Any document by which the title to real property is transferred
Cooperative (co-op)	A system of multiple ownership in which the residents of a multi-unit housing complex own stock in a corporation that then owns the property, and whereby each resident is given the right to occupy a specific unit pursuant to a lease
Cost approach	A method used by appraisers to estimate the value of a property, in which the appraiser's estimate of the replacement cost of the building is added to the estimated land value, minus the depreciation
Cost of funds index (COFI)	An index used to determine changes in the interest rate for certain adjustable-rate mortgage plans, determined by the weighted-average cost of savings, borrowings, and advances of the 11th District members of the Federal Home Loan Bank of San Francisco
Co-tenancy	Ownership of the same piece of property or real estate by more than one person
Counteroffer	A new offer, with different terms and conditions, made in rejection of an original offer received
Covenant	A clause written into mortgages, deeds or other real estate documents that obligates or restricts the borrower's actions, and which, if violated, can result in foreclosure of the property
Credit history, or Credit report	A record, prepared by an independent source, of an individual's debts and status of their payment, useful to a lender in qualifying a potential borrower for a loan
Credit life insurance	A type of insurance that can be purchased by mortgagors that will guarantee payment of the mortgage if the mortgagor dies while holding the policy

26 Days Of Real Estate Vocabulary

Regiane Vigario (Keller Williams Select Partners) — Sun, 17 Aug 2008 07:16:57 -0700

Abstract of title	A condensed history or summary of all transactions affecting a particular parcel of real estate, including the original grant, all conveyances and encumbrances affecting the property, and the abstractor's certification of the history's accuracy
Acceleration clause	A clause in a mortgage that gives the lender the right to require payment of the entire principal balance if the borrower defaults on an installment payment or other covenant
Acceptance	An offeree's consent to enter into, and be bound by the terms of, a contract
Access	The right to enter and exit a parcel of land from a public way, including the right to enter and exit via land belonging to others
Acknowledgment	The confirmation by which a party executing a legal document confirms his signature and voluntary agreement with the terms of the document, made before an authorized officer of the Court or notary public
Acre	43,560 square feet of land
Adjustable-rate mortgage (ARM)	A mortgage with interest rates that may fluctuate based on market conditions; the lender is permitted to adjust the mortgage's interest rate periodically, though most ARM's are limited in the amount that the interest rates can vary Figure out how much you can afford here!
Adjusted basis	The total of the original cost of a property and the value of any capital expenditures for improvements done to it, minus any depreciation taken
Adjustment date	The date on which the interest rate changes for an adjustable-rate mortgage (ARM)
Adjustment period	The period of time between the adjustment dates for an adjustable-rate mortgage (ARM)
Administrator	A person appointed by a probate court to administer the estate of an individual who has died without a will
Adverse Possession	A claim made against the land titled to another person, by virtue of open and hostile possession and use of the land to the exclusion of the titled owner
Affidavit of title	A sworn statement that is made in writing under oath by a seller of real property, and certified by a notary public, in which the seller identifies himself or herself, indicates marital status, certifies that no defects have occurred in the title since the examination of the title on the date of the contract, and confirms that he or she is in possession of the property (if applicable)
Agency	The relationship between two or more persons wherein the agent is authorized to act on behalf of another person (or principal) in certain transactions
Agent	A person or company that acts on behalf of another to transact business, generally in exchange for payment. In real estate, it is a person or company with a real estate license working under the authority of a real estate broker
Alienation	The act of transferring property to another, either voluntarily (via a sale), or involuntarily (via adverse possession)
Alienation clause	The clause in a mortgage or deed of trust which asserts the lender's option to require that the balance of the secured debt becomes immediately due and payable if the property is sold by the borrower, preventing the borrower from assigning the debt without the lender's approval
ALTA	American Land Title Association, the national association of title insurance companies, abstractors and attorneys specializing in real property law, headquartered in Washington, D.C.
Amenity	A natural or manmade feature of real property that enhances its value and attractiveness, though it is not essential to the property's use
Amortization	The process of payment of a debt or mortgage loan over time by installments
Amortization schedule	A timetable for repayment of a debt or mortgage loan, showing the amount of each payment, what portion is applied to interest and principal, and the remaining balance
Amortization term	The amount of time required to repay the mortgage loan, expressed in number of months
Amortize	To pay off a loan or mortgage with periodic payments that cover both principal and interest
Amortized loan	A loan in which both the principal and interest are payable in monthly or other periodic installments over the term of the loan, with no balloon payment prior to maturity
Annual mortgagor statement	An annual report sent to the borrower (mortgagor) each year, showing the amount paid in taxes and interest during the year, as well as the remaining mortgage loan balance
Annual percentage rate (APR)	The overall cost of a mortgage, including interest, mortgage insurance, and loan origination fee (points), stated as a yearly percentage, thus allowing buyers to compare different types of mortgages based on the associated annual finance charges; the APR must be disclosed to borrowers by lenders, per the Truth-in-Lending Act
Annuity	The return, including interest, from an investment of capital, paid in a series of regular payments
Appraisal	A written estimate of the value of an asset or property prepared by a qualified, independent party, through which the asset or property value is determined
Appraised value	The estimate of a property's fair market value, based on an appraiser's analysis of the property
Appraiser	An individual educated to estimate the value of real property and personal property
Appreciation	An increase in the worth of a property due to changes in economic conditions or other causes; the opposite of depreciation
Appurtenance	Anything attached to, or used with, a parcel of land that will go to the new owner on conveyance of the land
ARM	Adjustable-rate Mortgage. Also see "Variable Rate Mortgage"
Assessment	A tax, charge or levy against a property made by the government, based on its value, and levied for a specific purpose, such as to finance sidewalks, a sewer, etc.
Assessment rolls	The public record of taxable property
Assessor	A public official who evaluates the value of a property for taxation purposes
Asset	Anything of monetary value owned by an individual, including real property, personal property, and enforceable claims against others (bank accounts, stocks, mutual funds, etc.)
Assign	To transfer interest
Assignee	One who receives an assignment or transfer of rights
Assignor	One who makes an assignment or transfer of rights to another
Assumable mortgage	A mortgage that allows a new owner to take over its obligations
Assumption	The process of transferring the seller's existing mortgage and liability for payments to the buyer when purchasing a property, which usually saves the buyer money, since assuming a new mortgage incurs additional closing costs and possibly higher interest charges
Assumption clause	The provision in an assumable mortgage that allows a buyer to take responsibility for that mortgage from the seller
Attachment	Seizure of property through Court process to force payment of a debt
	r www.RegianeVigario.com

How to Buy a Townhouse

Regiane Vigario (Keller Williams Select Partners) — Thu, 14 Aug 2008 19:13:29 -0700

Step 1 Think about how long you're going to stay in one place. Buying a townhouse is no different than buying a single-family home--you need to live there at least a couple of years to recoup closing costs, assuming the property will appreciate.

Step2 Give some thought to what you want. If you're not interested in the pool or sauna, understand that the townhouse price and ongoing monthly association fees will reflect their use regardless of your interest in swimming or sweating.

Step3 Visit various condominium or townhouse communities and multiunit buildings so you know what's available where you live. Get a sense of prevailing prices.

Step4 Request a market analysis from a real estate agent regarding the selling prices of townhouses in the building or area. Check the price appreciation on the market analysis to evaluate how quickly the condos are increasing in value; subtract the selling price from the purchase price and divide by the number of years the property has been held by the previous owner for a ballpark estimate of annual appreciation, if any (varies from state to state and place to place), in the neighborhood.

Step5 Get prequalified for a mortgage (see How to Shop for a Mortgage).

Step6 Find out if the building has a good reputation. Ask current residents how often repairs and maintenance are required, and how good the soundproofing is between units.

Step7 Check out parking, storage, security and other amenities.

Step8 Ask to see the minutes from a recent meeting of the home owners association (HOA). Find out what the hot issues are and if members are fighting tooth and nail. You may want to keep looking-- nobody wants to live where neighbors are at each other's throats.

Step9 Ask how large the HOA's reserve funds (used to pay for maintenance and emergency repairs on the building) are. The larger the reserve, the less a chance of an assessment or one-time payment to chip in for an unexpected expense. The smaller the reserve, the greater the chance you'll be billed for an assessment in the near future. Some states require periodic updates of reserves to be published to HOA members.

Step10 Check the HOA's history of assessments to see how many have been made in the past 10 years and how large they have been. This information will help you gauge how likely it is that you'll be assessed in the near future, and indicate how well-managed the building is. Better managed buildings make fewer assessments.

Step11 Talk to other members and find out how restrictive your HOA is. For instance, some buildings even dictate what sort of holiday lighting you can put up. Request the same information as you would for buying a house. Read the CC&Rs (covenants, conditions and restrictions).

Step12 Budget in association dues, which are above and beyond your monthly mortgage payment. To assist in long-term financial planning, ask the condo association whether association fees have increased in recent years. Also estimate monthly maintenance costs that you're responsible for in addition to the association fees.

Step13 Make an offer and close on the deal. See How to Buy a House for more specifics.

You Should Buy A Home!

Regiane Vigario (Keller Williams Select Partners) — Mon, 07 Jul 2008 07:42:29 -0700

You should buy a home. That's what you've been hearing from friends and family, right? So, by now you have likely already weighed the benefits and decided that home ownership was the best decision for you. That's a major hurdle now passed. You are focused and certain. Good.

Defining Search Parameters

Almost 80% of all home searches today begin on the Internet. With just a few clicks of the mouse, home buyers can search through hundreds of online listings, view virtual tours, and sort through dozens of photographs and aerial shots of neighborhoods and homes. You've probably defined your goals and have a pretty good idea of the type of home and neighborhood you want. By the time you reach your real estate agent's office, you are halfway to home ownership.

How Long Should It Take to Find What You Want?

In seller's markets, often I show only one home. After all, how many homes does one family need? A few buyers will look for years, but buyers who do that aren't motivated. A motivated buyer will find a home within two weeks. Most of my buyers find a home within two days.

Good real estate agents will listen to your wants and needs and arrange to show only those homes that fit your particular parameters. Your agent should preview homes before showing them to you as well.

How Many Homes Will You See?

Studies show that the your memory dramatically improves after consumption of carbs and slows upon consuming sugar. So, layoff the soft drinks and have a hearty meal of carbs before venturing out to tour homes. The average number of homes that I show to a buyer in one day is seven. Any more than that, and the brain is on overload. Therefore, don't expect to see 20 or 30 homes; although it's physically possible to do so, you probably will not remember specific details about any of them.

The "Red Shoes" Experience

Women will relate to this. Say, you need a new pair of red shoes. You go to the mall. At the first shoe store, you find a fabulous pair of red shoes. You try them on. They fit perfectly. They are glamorous. Priced right, too. Do you buy them? Of course not! You go to every other store in the mall trying on red shoes until you are ready to drop from exhaustion. Then you return to the first store and buy those red shoes. Do not shop for a home this way. When you find the perfect home, buy it.

How to Rate Inventory

Bring a digital camera and begin each series of photos with a close-up of the house number to identify where each group of home photos start and end.
Take copious notes of unusual features, colors and design elements.
Pay attention to the home's surroundings. What is next door? Do 2-story homes tower over your single story?
Do you like the location? Is it near a park or a power plant?
Immediately after leaving, rate each home on a scale of 1 to 10, with 10 being the highest.

View Top Choices a Second Time

After touring homes for a few days, you will probably instinctively know which one or two homes you would like to buy. Ask to see them again. You will see them with different eyes and notice elements that were overlooked the first go-around.

At this point, your agent should call the listing agents to find out more about the sellers' motivation and to double-check that an offer hasn't come in, making sure these homes are still available to purchase.

Making the Selection

I'll let you in on a little secret. I generally know which home a buyer is going to choose, and I suspect most other agents operate the same way. It's an intuition. But I make it a practice not to steer buyers, and I insist that buyers choose the home without interference from me. It's not my choice to make.

Real estate agents are required, however, to point out defects and should help buyers feel confident that the home selected meets the buyer's search parameters.

Searching for a real Estate Agent

Regiane Vigario (Keller Williams Select Partners) — Thu, 26 Jun 2008 06:16:01 -0700

Why Search for a Realtor®?

When someone decides it is time to sell their home, they interview several Realtors® from different companies to determine which one is best for them. They want someone who will represent them and someone they feel will do an effective job at marketing their home.

However, when someone decides to buy a home, they usually end up with their Realtor® through sheer accident. Why don't homebuyers search for a Realtor® the same way that homesellers do?

Instead, homebuyers usually end up with a Realtor® as a result of answering an advertisement. The advertisement will give a brief summary of a home available for sale along with the price, but it says nothing at all about the Realtor®. The ad also does not say whether the property backs to a busy street or if the "ocean view" is available only by leaning out of the second story window with a pair of binoculars.

You see, there are listing agents and selling agents. Listing agents are the ones who "list" a home for sale on the Multiple Listing Service, and they deal primarily with sellers. Selling agents or "buyer's" agents do not usually list very many homes for sale. They deal mostly with homebuyers.

Buyer's agents sell the homes that are placed in the MLS by the listing agents.

Most agents concentrate primarily on one side or the other. This is not a "hard and fast" rule. There are also agents who split their time equally between buyers and sellers. Often, these are the very best Realtors®. The fact of the matter is, if you are buying a home who do you want on your side? A Realtor® who deals primarily with sellers? Or one who deals mostly with buyers?

If you call on an advertisement in a newspaper or one of those home selling magazines, you are most likely calling the listing agent. Listing agents place ads for several reasons. First, they need to show the seller that they are doing something to sell their home. Second, by showing how much they advertise, they can also attract other individuals who are thinking of selling their homes. They point to their ads as an example of what they will do to market the house.

What sellers don't realize is that a listing agent's main marketing emphasis is directed toward other Realtors®, not the general public. Their main goal is to convince the selling agents (buyer's agents) to find buyers and make offers. This is a good thing because if you are selling a home, you want as many Realtors® as possible bringing buyers around to take a look. Most of a listing agent's marketing efforts toward other Realtors® are invisible to the general public, but it is where an effective listing agent does a home seller the most good.

One reason listing agents advertise homes in newspapers and magazines is to show their clients that they are aggressively marketing the property. When home sellers constantly see ads from a particular Realtor®, they are inclined to want to list with that Realtor®. So even though the ads look like they are directed toward home buyers, they often have another purpose. To attract home sellers.

Selling agents (buyer's agents) do advertise homes for sale in order to attract buyers. However, they don't really expect you to actually purchase the home you originally call on. They would be happy if you do, but it happens so rarely that they do not expect it.

When you call on a real estate ad, you often schedule an appointment to go look at the advertised home. While you are out looking at that home, you will probably want to look at a few others, too. Eventually, you and the Realtor® will zero in on what you need and like in the proper price range and you will make an offer.

That is one way of finding your Realtor® by accident.

Suppose you call the Realtor® who is listing the property you "might" be interested in and it turns out that the house is absolutely perfect and affordable and you want to make an offer? Do you want the same agent who listed the home for sale and represents the seller to also represent you? The odds are that everything would be okay if you did, but it is risky. It would be like both the husband and the wife using the same attorney to represent each of them in a divorce. A more extreme example would be if you sued somebody and agreed to let the opposing lawyer represent you, too.

When you make an offer to buy a house, you are entering a negotiation. The seller wants as high a price as possible and the buyer wants the lowest price possible. If a Realtor® represents both sides, there is a conflict of interest, though an ethical Realtor® can equally represent both sides. Most Realtors® are very ethical and take their responsibilities seriously. However, If the listing Realtor® knows how much you are willing to pay for a home or the loan amount you have been qualified for, and that information gets somehow passed on to the seller even though they are also representing you as the homebuyer, you are at a disadvantage.

There are other ways that having the same Realtor® represent both sides of the transaction can be a negative as well.

Actually, the best thing for you to do when you see an advertisement in the paper is to call your own Realtor® and tell them about the ad. Since addresses usually do not appear in advertisements, your Realtor® will call the listing agent and find out which property is featured in the ad. It may be a great home for you, but it may also be a property the Realtor® has already disregarded because it backed up to a busy noisy street and you have told your Realtor® you wanted a quiet neighborhood.

First you have to have a Realtor® you can call. How do you find one?

Referrals are always a good way to go. Perhaps a friend, co-worker, or family member recently bought a house in the same community and had a good experience. However, if they bought a house twenty miles from where you want to move, it may not be a good idea to use the same Realtor®. You want one who knows the area in detail, and has already previewed many of the homes available for sale in that community. Community knowledge should be important to you because you are not just buying a house. You are buying a home.

Every Realtor® can show you every property available for sale in the Multiple Listing Service. Since that is true, you can call any real estate office and find a Realtor® willing to show you houses for sale. The problem is that you do not know if you are talking to an excellent Realtor® or a lazy inactive one. Your first step should be to shop for a Realtor®, not to shop for property. Shop for a Realtor® the way you would shop for a good attorney, accountant, mechanic, plumber, doctor, financial advisor, or other professional.

for a Realtor® That Will Represent You Properly.

If you imagine that automobiles are sold like real estate, you can see why you need to shop for a Realtor® of your own. Imagine there are no more car lots or dealerships. Instead of working for dealerships, all car salesman are freelancers, working for anyone. New cars are just parked on streets all over the place and they have "For Sale" signs on them. So if you want a Ford, there are no more Ford dealerships you can go to and look at all the new cars. No more Lexus dealerships or any other kind of dealerships, either. If you want to look for a new car on your own, you just drive around and see what you can find. Even then, you can only look at the outside, because you don't have the keys.

However, there are a group of individuals who have the keys and are hooked into a computer that tells them basic details about all the vehicles and where they are all located. They get paid a commission for selling the cars. Some of this new type of car salesman just sit around with their list hoping for people to call on ads they run. Some of them, however, also go out and locate the new cars, physically inspect the interior and exterior, and flip on the ignition to listen to the sound of the engine. They are interested in finding the best cars so their customers refer future clients to them.

As a buyer, who would you rather deal with? Someone who has a key and a list? Or someone who really expends some effort to make sure they have satisfied clients?

You want someone good working for you.

One way to find candidates to interview is to talk to professionals from real estate related professions and ask their opinion. If you know someone who is employed as an escrow officer, title representative, homeowners insurance salesman, or loan officer, they will be able to recommend Realtor®s from the area they work in. If you talk to a loan officer, be sure it is someone who deals primarily with purchase money first trust deeds and mortgages instead of refinances, second trust deeds, or finance companies. Since the latter do not deal with Realtor®s on a regular basis, they will not know who to recommend.

You could just make phone calls to real estate offices and ask questions. Ask the manager to recommend someone or ask a Realtor® who he/she would recommend from another office. This will be a little tricky because the Realtor® you ask will be "giving away" a commission, but you will find out who they respect as a competitor.

A new alternative to finding a Realtor® is the internet. Look for Realtor®s who advertise themselves, not property. That way you have a pretty good idea you are getting a "buyer's" agent instead of a listing agent. Look to see if their web page offers something to you in the way of information or other services instead of just telling you they are "number one." You want someone of value to represent you, not someone who is full of "puff."

When you interview Realtors® for the job, you want someone who will be concerned about you and will take care of your interests. You want someone who demonstrates ready knowledge of homes available for sale and does not have to call you back after they "check on the computer." This ready knowledge demonstrates they have actually been out previewing homes and don't just sit around waiting for the phone to ring. You also want someone sharp enough to ask you questions as well, including your financial and debt information. By asking these questions, a good Realtor® will be able to determine the proper price range you should be looking in. By asking about your family, an agent will be able to tell if what you need in a home is something available in your price range. You want a Realtor® who is bold enough to talk straight with you instead of always telling you what you want to hear.

Finally, any decent agent will always ask for an appointment to meet with you, too. It is only natural, since they earn their living by commissions. However, Realtors® are also supposed to act as your agent, looking out for your interests before their own. You want a Realtor® who takes that responsibility very seriously. If someone seems too much like simply a salesman, then maybe you should look a little further

www.RegianeVigario.com

Are you Buying A House Or A Home

Regiane Vigario (Keller Williams Select Partners) — Wed, 25 Jun 2008 04:48:50 -0700

Are You Buying a House or a Home?

As you read and study about buying real estate, you will often find the words "house" and "home" used interchangeably. There is a huge difference between a house and a home.

A house can be a place to eat, sleep, park your car, and put all your "stuff" (including other family members). It is a material possession and an investment. A home is where you feel comfortable, warm, safe, and protected.

A home is where you live.

A house is something you buy logically. A home is an emotional purchase. When buying real estate you have to balance your emotional wants and your logical needs because there will almost certainly be a time when the two conflict.

Example

For example, you may want a house with a view, but the payment is higher than you feel comfortable with on a thirty-year 30 year fixed mortgage.

What do you do?

Purchase the house anyway and budget more carefully for the next few years? Buy the same house without the view and get it cheaper? Make a larger down payment by borrowing from your 401K or family members, so you get a lower payment? Get an adjustable rate mortgage with a smaller payment instead of a fixed rate loan? Or buy a smaller house and still get the view?

When viewing the house, most people look at it emotionally and envision it as a safe, happy, comfortable home. Later, when making the offer or filling out a mortgage application, your logic may begin to kick in, instead. That's when "buyer's remorse" may come up.

Balancing Act

The trick in buying real estate is to view all decisions with both a logical perspective and an emotional perspective. If a situation presents itself that requires a trade-off, decide on whether there is a huge conflict or a small one. Logic should win the big conflicts, but emotion should always be a factor, even winning the small ones.

You will find yourself owning a warm, happy, safe home - and an investment for the future at a price you are willing to pay.

Simple Stuff Every Investor Needs to Know and Do

Regiane Vigario (Keller Williams Select Partners) — Wed, 11 Jun 2008 22:55:50 -0700

Simple Stuff Every Investor Needs to Know and Do

Don't rely on the tax-appraised value of the property. The only true way to establish the market value of a property is through the use of comparable sales.
Look for a handyman. A contractor who drives up in the new, extended-cab, long-bed Silverado pickup is not the guy for your job.
Close the deal. Never submit a contract unless you are absolutely certain you will be able to close.
Resist the lure of the big dollar house. High-end homes will put you out of business in a hurry.
Get the keys. Don't ever hand over the money until you have the keys and the tenant is out.
Don't fall prey to "deal-itius." As a rule, do not work for less than 20 percent of the total value of the property-even if you currently don't have a deal.
I already have a contract, thanks for calling. Build a buyers' list. Remember: it is easier to find houses than it is to find buyers for houses. Don't throw names away just because you have a contract.
Don't be cheap. There's a reason it's called "the cost of doing business." You have to spend a little to earn a lot.
Beware of lien windfalls. Spend the time learning the bidding system in the state before buying. Focus on the tax rate of return, not the property.
Be sure you have the dough. Don't make a bid if you can't back it up. It would really be embarrassing to be sued by the county.

Great Deal Woodstock -Shows Great $159000

Regiane Vigario (Keller Williams Select Partners) — Tue, 06 May 2008 06:02:08 -0700

Woodstock Home Sweet Home

5050 Woodcrest Crt, Woodstock, GA 30189
MLS: 3703292 | Price: $159000

REMARKABLY WELL CARED FOR HOME.JUST PAINTED EXTERIOR.THIS IMMACULATE 3BDR.2BA HOME SITS ON ALMOST 1 ACRE CORNER. QUIET CUL-DE-SAC . BEAUTIFUL WOODED LOT. PRIVATE FENCED BACKYARD.QUIET NEIGHBORHOOD.GREAT SCHOOLS.READY TO MOVE IN!!! MINUTES FROM ALL MAJOR HWYS AND SHOPPING WILL CONSIDER LEASE/PURCHASE

Large Fenced Back Yard
Just under 1 Acre
Cherokee School District
Tile Entrance

Large Wooded Corner Lot
Quiet Culdesac
Ready to Move In
Hwy92 & 575 within Minutes

Keller Williams
Regiane Vigario
2205 River Stone Blvd
Canton, GA 30114
770-375-7553
Click To Email Me
http://www.classifiedflyerads.com/dirimages/dirtracking.php?directory=http://www.RegianeVigario.com&list_id=0&flyer_id=24028&type=link

My Profile and Listings

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Vacation Incentive For Ga.

Regiane Vigario (Keller Williams Select Partners) — Wed, 16 Apr 2008 07:37:23 -0700

Here is your chance to go to the carribean. My seller is offering a paid carribean vacation up to $3000- to the selling broker who sells my listing.

Just Updated- Free Carribean Vacation Valued At $3000 for Selling Broker!

Property Address: 209 River Green Ave, Canton, GA 30114 | MLS: 2392860 | Price: $157900

This great for first time buyer or commuter with access to major highways. Located at the begining of the River Green Subdivision in Canton Ga. Clean all the way around move right In. Awesome community amenities. Carribean Voucher to the selling Agent for $3000-Call Regiane for details

Features

Newly Updated carpet & tile
Show and Sell
Gas Fireplace in Living Room
Lots of Storage Space
Large Bedrooms
Central A/C
All Appliances including Fridge

Amenities

Aquatic Center
Tennis
Playground
Nature Trails
Shopping and Hwys Close by!
Discovery Point Across the Street

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Hero to Zero

Regiane Vigario (Keller Williams Select Partners) — Tue, 15 Apr 2008 07:02:21 -0700

Just when I thougt the market shifted. Another bad monday. Today is my birthday and also tax day. My only hope for April has almost flushed down to zero. The good side of the coin is I always have a back up plan and Saw the storm coming. Another lesson in the book. 2 scheduled closings that buckled up.

One sale can change your thoughts!

Regiane Vigario (Keller Williams Select Partners) — Sat, 12 Apr 2008 02:44:24 -0700

I just got off the phone with my sister in law in New Jersey and she was walking in her office 2 days ago picking up her mail and the phone rang. Apparently this client was looking for a million dollar home but the lisitng agent didnt pick up her phone. She went on the apointment and wrote a contract. Her client was handed down a large some of money from there family and always wanted something like this and now could afford it. Just came out of attorney review and ready to close in two weeks. What a gift from above. 855,000 at 3% you do the math. I bet the agent who blew this client off is kicking herself now. Go Jodi!!!

Follow Up is the Key to Success.

Regiane Vigario (Keller Williams Select Partners) — Fri, 11 Apr 2008 06:43:23 -0700

Building a pipeline of people is very important. I treat everyone as if they were buying or selling now. I understand that sometimes clients tend to stretch the truth but over the 4 months I have made numerous phone calls and now 4 months later the weather is nice and people are getting back in the spirit. Its showtime everyone. Lets make some deals.

The market is turning around !

Regiane Vigario (Keller Williams Select Partners) — Mon, 07 Apr 2008 08:11:35 -0700

After three open houses over the weekend I can honestly say the market is turning around. I had the best response this weekend I had in a long time. Clients are being smart about their purchases. If your home is clean and looks like you actually care about where you live your home will stand out above the rest. Regardless of the economy being positive and holding your ground can ease your clients. The nice weather brings people out and pus them in a shopping mood.

Short Sale Disaster!

Regiane Vigario (Keller Williams Select Partners) — Fri, 04 Apr 2008 08:20:52 -0700

No wonder the foreclosure rate is so high. I am trying to do a short sale and what a disaster. The banks never get back to you. I find myself twittling my thumbs at the banks mercy.My client does not want to sign anything. To top it off the other realtor does not understand the concept. My best advice when getting a listing is find out if they are either not paying there mortgage or about to go into foreclosure. I know it a sale but the hoops you have to go through really does not even out to my favor. Calgon take me away!!!

Being a Realtor is a addictive!!

Regiane Vigario (Keller Williams Select Partners) — Thu, 03 Apr 2008 03:57:27 -0700

I think being a Realtor is a sickness. I cant wait for the phone to ring. I have gotten so involved with this I find myself searching on the Pc all hours of the night. Is this normal? I am addicted to finding new solutions and new clients. I love the intense feeling from a lead. I suppose this wears off after time. I heard somewhere if you always do what you love you will never have to go to work!

Having a Good frame of mind is the best antidote.

Regiane Vigario (Keller Williams Select Partners) — Wed, 02 Apr 2008 15:55:39 -0700

For the longest time I have been wondering why this industry is like looking out a dirty windshiled. I have been positive over the holidays and kept my work ethic in order. Now its all paying off because the clients I have contacted over the holidays are now ready. I have now have a new mondset. Income is the Outcome. If I am doing the daily things I need to do eventually they will pay off. I am a firm believer you can control the outcome of every situation. Everyday is a good day some are just Better Than Others.

Hazard insurance	Insurance protection for specified losses due to natural causes, such as fire, floods, earthquake, tornadoes, and other "acts of God"
Heir	An individual who will potentially inherit an interest in land from someone who dies
Hiatus	A gap or space between two parcels of lands that is not included in the legal description of either parcel
Home equity line of credit, or Home equity loan	A mortgage loan (usually not the primary mortgage) or line of credit which gives the property owner the option to obtain cash advances from the loan proceeds, using his or her residence as collateral, but which is not to exceed a pre-arranged amount of the owner's total equity in the property
Homeowners' association	A nonprofit association of individual owners of units in a multi-unit structure (either a planned unit development, or a condominium) that manages the common areas of that structure. In a planned unit development (PUD) project, the association holds title to the common elements, whereas in a condominium project, it holds no title to the common elements
Homeowner's insurance	An insurance policy available to residential real estate owners that protects homeowners against financial loss from fire, theft, public liability, and other risks
Homestead	Real estate that is owned and utilized as the primary family residence, protected in some states as exempt from the claims of creditors
Homestead deed	A document filed in the land records asserting a homestead exemption, protecting a variable amount of his assets (depending on which state) against the claims of creditors
Housing ratio, or Debt-to-income ratio	The percentage that results from dividing a borrower's housing expenses by his/her gross monthly income, used by the lender to evaluate an applicant's qualification for a loan
HUD-1 statement	The document used in closing a real estate transaction (also known as a "closing statement" or a "settlement sheet") which itemizes the funds that are payable at closing, including broker commissions, loan costs, and escrow amounts, and which provides a summary of the seller's net proceeds and the buyer's net payment at closing. It is required by the US Department of Housing and Urban Development (HUD) whenever federally-related mortgages are being made on residential properties