Good consumer information!

Via John Mulkey, Housing Guru (TheHousingGuru.com):

checkbookIn a ruling announced today from the Federal Reserve and set to take effect on July 1, 2010, Banks will no longer be able to charge the exorbitant overdraft fees that have become so common in recent years. A source of billions in revenue, these fees have become so common that many banks rely on them as a major source of profit. The new ruling requires customers to grant permission to the bank before payment of items that exceed the customer’s account balance and applies to debit card and ATM transactions.

 

Consumers will no longer have to worry about spending $5 at McDonalds and being hit with a $35 overdraft fee. However, those who do opt for overdraft coverage will, of course, still suffer the consequences.

 

Another option, though a bit unconventional, but which costs nothing and insures that such excessive bank charges will NEVER be charged, is for customers to balance their checking account monthly and not make purchases when they don’t have money. While such a solution may seem outlandish to many, those who use this system report that it is fail safe.

 

For more info on this ruling visit: Yahoo Finance

 

The Housing Guru: The one source for all your housing questions

 

 

 

 

 

 

 THE JACKSON TEAM  614.888.1000   614.431.1220

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This is another example when a good Realtor works hard and gets the short sale done!  Congrats!!!

Via Bryant Tutas-Tutas Towne Realty, Inc:

 

It only took 7 months BUT we have another Bank Of America Short Sale Approval.

Location:

  • Kissimmee Florida.

Details:

  • Went pending on April 17th at $79,000 all cash Buyer.

Mortgages:

  • $188,000 owed on the 1st Mortgage with Bank of America.
  • $25,000 owed on the 2nd with Real Time Solutions.

Challenges:

  • Keeping the Buyer on board for almost 7 months.
  • The 2nd started out with Bank of America and was sold to Real Time Solutions about 5 months into the transaction.
  • The Seller is an investor than owns multiple properties.

Outcome:

  • Bank of America netted $69,000 (37% of what was owed).
  • The 2nd received $3,000
  • Only $500 cash contribution required from the Seller.
  • NO note
  • Happy Seller. Happy Buyer, Happy Agents

 

Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.

Want to find out more? www.CentralFloridaShortSales.com

 

Florida Property search

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

http://ShortSaleSuperStars.com

Are you a Florida REALTOR(R) looking for a change? Check it out.

CENTRAL FLORIDA REALTOR(r) OPPORTUNITIES

Copyright © 2009 http://www.brokerbryant.com/ | All Rights Reserved

 

 

 

 

 

 

 

 THE JACKSON TEAM  614.888.1000   614.431.1220

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Maybe Realtors should look at Zillow differently after watching this!

Via Spencer Rascoff (Zillow):

Tisza Major-Posner of the Route66 Living blog talks about why she likes Zillow. Taped at the NAR Convention in San Diego.

 

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 THE JACKSON TEAM  614.888.1000   614.431.1220

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Homes located in walkable neighborhoods may be more valuable that homes located in car-dependent areas.  Higher levels of walkability, determined by its walk score, may be increasing the value of the home.  The higher the walk score, the higher the home value.  The location of restaurants, schools, libraries, banks and retail shops are some of the amenities which help determine the homes walk score.  It is possible that a one-point increase in a walk score could increase the sale value of a home from $700 up to $3000, depending on the market.

 

 

 

 

 

 

 

 THE JACKSON TEAM  614.888.1000   614.431.1220

 VISIT US AT WWW.THEJACKSONTEAM.NET

 

 

Exterior Lighting - It should catch your eye, not blind you.  Flashing lights and lawn figures may keep your prospective buyers from seeing the true charm and value of your home.  Keep it simple.  Simple white lights in moderation can compliment your home and make it feel festive and welcoming.

Christmas Tree - For those with a smaller home, you may want to rethink putting up that tree.  Prospective buyers are looking at the amount of space they have to work with.  A tree can create the illusion of less space.  Natural lighting can create the illusion of more space, so don't block windows with a tree or any large decorations.

Interior Decorations - Leave most of those decoration in the box.  Too many knick-knacks, lights and/or displays will distract the prospective buyer.  The abundance of decorations can make a room appear smaller and the prospective buyer may spend time judging your displays instead of looking at your home.

Holiday Scents - One of the most popular scents is always Vanilla.  Other favorite scents for the holiday season include cinnamon, pumpkin spice and spruce.

After The Holidays - Holiday decoration should be taken down and stored  by January.  Leaving your directions up for an extended period of time may give the impression that you do not take the time to maintain your home. Rule of thumb: All decoration should be removed within a few days after the holiday

 

 

 

 

 

 

 THE JACKSON TEAM  614.888.1000   614.431.1220

 VISIT US AT WWW.THEJACKSONTEAM.NET

 

 

It does not matter if ou like it or not, the next wave of REO's is coming soon! Are you ready for it?

Via Tim and Julie Harris (Harris Real Estate University):
Quick, important blog post for you...

Alarming new information is (finally) being released about how big...make that HUGE...the foreclosure problem really is....
 
Read the entire article on the blog NOW.<------Important Link, Click NOW.
 
Here are a few facts for you:

Fact: Every 13 Seconds Another Home Goes Into Foreclosure.

Fact: Nearly 7,000 Foreclosure Filings PER DAY.

Fact: There are Roughly 7,000,000 lender 'Shadow Inventory' homes....homes destined to become REO listings.

Fact: Its Simply Impossible That There Will Be Any Sort Of 'Market Correction' For Years.

Fact: The FHA Will Have To Raise Standards For Loans, Rates...Credit Scoring etc.

Fact: Over the next 3 years more than 6,000,000 more homes maybe lost to foreclosure (thats in addition to the 7,000,000!)

Hop on over to the blog now and read the entire article...everything is about to change...
Read the entire article on the blog NOW.<------Important Link, Click NOW.

It seems that the banks (and the politicians) won't be able to hide the real facts any longer. If these new reports are to be believed, there is going to be massive changes happening to the real estate markets over the next 90-120 days.

Read the artucle on the blog and let us know what you think..

 

 

 

 

 

 

 

 THE JACKSON TEAM  614.888.1000   614.431.1220

 VISIT US AT WWW.THEJACKSONTEAM.NET

 

 

Columbus was 1 of the 24 metropolitan areas studied.  Columbus showed a rise in home values in the 3rd quarter this year compared to the 3rd quarter of last year.  Home values rose in some out of the way places you might not expect such as Groveport, Hebron and Johnstown.  But, there was a drop in value in areas such as Upper Arlington Worthington and Dublin.  A few central Ohio real estate agents agree that the housing prices are starting to stabilize throughout the Columbus area.

 

 

 

 

 

 

 THE JACKSON TEAM  614.888.1000   614.431.1220

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Delaware County was the only Ohio location to make the list taking number 8 out of the top 10 counties in the U.S. where the concentration of the young and wealthy live. 

 

 

 

 

 

 

 THE JACKSON TEAM  614.888.1000   614.431.1220

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During the month of October 11,646 foreclosure notices were filed in Ohio according to RealtyTrac, a California-based foreclosure service.  It looks like Ohio might be heading into another round of foreclosures after these figures were released.  There has been an increase in lawsuits filed by lenders against homeowners.  The 4,628 suits filed are also included in the number.  This is 16% more then in September.  The number of loans 90 days delinquent has not been declining so it looks like we still cannot see the light at the end of the tunnel.  The 90 day delinquent loan numbers have been increasing since the middle of 2008 even though the Nationwide trends in foreclosures fell 3% in September and October. 

The mortgage industry is still struggling to manage as foreclosures remain at a near record high.  California and Florida consumed 41% of the nation's foreclosures in October.  Illinois and Michigan followed with Arizona and Nevada close behind.  The government has had to push many lenders to participate in the Obama administration's loan modification plan.  Over 650,000 borrowers signed up for temporary plans, but since the start of September, only 1,700 modifications have been made permanent.

 

 

 

 

 

 

 THE JACKSON TEAM  614.888.1000   614.431.1220

 VISIT US AT WWW.THEJACKSONTEAM.NET

 

 

2714-16 Adams Avenue can buy with 2420-22 Adams.  Frame 2 unit fully leased on 11-16-09.  See vacant unit at 2422 Adams first.  Good North University rental.  Forced Air/Gas, Owner pays sewer. Tenant pays electric & gas. Income & expenses projected.  Subject to 3rd party approval.  New listing by Joe Jackson of the Jackson Team.

 

 

 

 

 

 

 

 THE JACKSON TEAM  614.888.1000   614.431.1220

 VISIT US AT WWW.THEJACKSONTEAM.NET

 

 
 
Team_photos_128b Rainmaker_large

Joe Jackson

Columbus, OH

More about me…

Keller Williams Capital Partners

Address: 100 E Wilson Bridge Rd , Worthington, OH, 43085

Office Phone: (614) 888-1000 x 322

Cell Phone: (614) 271-4263

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