Rockie's Blog

A FRIDAY MORNING FUNNY!!

2008-04-25T07:36:22Z

My husband just copied me on this email (source unknown) - hope it helps to start your weekend off with a laugh as you plan for your successful open houses and write lots of contracts!

I was walking past the mental hospital the other day, and all the patients were shouting, '13....13....13.' The fence was too high to see over, but I saw a little gap in the planks, so I looked through to see what was going on..... Some joker poked me in the eye with a stick!

Then they all started shouting '14....14....14'...

... I KNOW YOU LAUGHED!!

Have a great one AND I'm never too busy for your referrals!

WWW.ROCKIEMARVEL.COM

INTIMIDATED BY SELLING HUD HOMES?

2008-04-24T22:21:26Z

Nonsense! I just attended a class on "Successfully Selling HUD Homes" at our local MLS and what an eye opener. In my career, I had only submitted 1 electronic offer and it was very stressful. I didn't know what I was doing - it was the blind leading the blind. To be honest, I didn't feel that I had represented my client to the best of my ability. This class was very educational. I am now prepared and have the confidence and resources to tackle the job!

What is a HUD home?
• A foreclosed FHA loan

Who can buy a HUD?
• Any qualified purchaser
• Must be pre-qualified

Who can sell a HUD?
• Any licensed real estate broker/agents
• Must have an NAID #

Just a few AHA's:
• Each HUD home is appraised by an FHA appraiser. This dollar amount is the initial list price you will see posted.

• Each home has a Property Condition Report but should not be used in place of an inspection. Obviously, it is recommended that all buyers get an inspection. The utilities can be turned on at the buyer expense.

• Earnest money requirements: $500 for properties listed up to $50,000 or less and $1,000 for properties over $50,000. The EM is payable to HUD in certified funds.

• If you have an FHA buyer, they must use HUD's appraisal which is free to them. Should your client elect to submit an offer for more than the appraised list price, the buyer would have to pay the difference in cash at the closing table (FHA will not loan more than the appraised amount). We need to be sure to educate our clients on this beforehand.

• All owner-occupants must live in the house as their primary residence for at least one year and may not purchase another HUD home for 2 years. Anyone else is considered an investor.

• The penalty for an owner-occupant vacating the home prior to the first year is 2 years in jail or a $250,000 penalty (pretty steep!)

There is much, much more to learn about the HUD home selling process. Be sure to visit http://www.southwestalliance.com for additional information on buying and selling HUD homes.

P.S. I'm never too busy for your referrals! I look forward to working with you soon!

P.S.S. To verify any of the information above, you may call 800.934.3009

"To Blog or Not To Blog"

2008-03-25T14:39:36Z

"TO BLOG OR NOT TO BLOG" seems to be the question these days. I don't know how this all started or when but I do know that it's all I hear about these days and it's time to get "plugged" into "blogging". I've actually been intrigued by what a fellow Realtor with Keller Williams has accomplished by sharing her thoughts, ideas, passions, and expertise. Is that what's it's all about? Can it really be that easy? Even so, with so many thoughts and ideas, where do you begin? I'm going to think about that and will be back but, in the meantime, be sure to visit my website at http://www.rockiemarvel.com if you're thinking of relocating to Dallas (a MARVELous city). Also visit the POWERPAGE at http://www.rockiemarvel.com a virtual up-to-the-minute monitor of New Listings, Price Changes and Listed Foreclosures as they come on the market. It's like watching NASDAQ for residential listings. Blog ya soon!