Dwight's Blog

Secure a Free Listingbook Account

Dwight Puntigan (River City Real Estate) — Tue, 06 Oct 2009 09:00:44 -0500

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Secure a Free Listingbook Account at http://dwightpuntigan.listingbook.com/ .

Thank you for your interest in purchasing a home in the St Charles St Louis metropolitan area. Please contact Dwight Puntigan at River City Real Estate in order to receive your FREE personal Listingbook account!

Buying a home is one of your most important financial decisions! You want to make the right choice - an informed decision. Why not use the best service available - the service that gives you the ability to find the perfect home at the right price? Listingbook is the most efficient, effective, and satisfying home buying experience available.

An Informed Decision

With Listingbook you have it all! 24/7 access to in depth property details and all photos, area sales report, loan data, price history, tax data, location maps, school info, and virtual tours. You have the freedom to search for homes like a real estate agent; yet your agent's expertise and knowledge is a click away. Your agent customizes your search and creates your personal Web site. Want to change criteria? It's easy and only takes a few moments!

Up close and personal

Finally, you know what's happening. Store your favorite homes in a special list you share with your agent. If there is any relevant change, you are immediately notified. No more sifting through 100's of listings - you are now up to date.

If your curiosity is ever piqued, Listingbook's Quick Search is the answer. Find how many homes have "workshops" or "open floor plans." Investigate a favorite sub-division or street. This is your personal site - it works for you!

Keep in touch

Only two clicks of a mouse and a message to your agent is on its way. No fumbling for an email address, no frustrating phone tag, no virus concerns; communication is easy and convenient. Home details are automatically included in the message - just click and view! What could be easier?

You and your agent are a team. Listingbook allows you to quickly get your teammate's answers and stay informed.

Get what you want, when you want it

Seven days a week, twenty-four hours a day, Listingbook delivers your information. Whether you are at your home, your office, or on vacation, you can access your Morning Report, property information, and messages.

Finding your perfect home has never been easier!

Also at http://www.StCharlesHousing.com and at St Louis metro housing

Buying Tips

Dwight Puntigan (River City Real Estate) — Sun, 04 Oct 2009 19:11:17 -0500

Contact:
Dwight Puntigan
River City Real Estate
636-219-6242

Beauty is in the eye of the beholder, particularly when it comes to buying a home. Features that attract one home-buyer may repel another.

However, the one feature of interest to every home-buyer is price. Getting the most home for your money is paramount. The real problem is figuring out whether that fixer-upper on one street is a better buy than the home in next-to-new condition two blocks away. That’s why knowing what to look for before you buy can save you time, energy and money down the line.

The first step is figuring out what kind of house you need. A good buy is only a good buy if it meets your current and future living requirements. Before shopping for a home, decide how much space you and your family require. How many bedrooms, bathrooms? Is a family room necessary? Do you need a layout that will accommodate a lot of entertaining? Do you prefer a spacious or compact work space in the kitchen? If you have small children, can the house easily be childproofed?

Evaluate the front and back yards. Is there enough space to accommodate your children? Do you want a park-like or garden setting? Do you enjoy yard work and gardening, or do you want a low-maintenance yard? Take into consideration the cost of extensive landscaping and upkeep.
Bigger Home
Next, determine how much work is required to make the house you are considering livable. Make an honest assessment of your fix-it abilities. How much work are you willing to do or pay someone else to do? Do you have basic decorating, carpentry and plumbing skills? If you plan to learn as you go, make sure you have accurately determined what you are getting into. Ask an experienced friend, family member or your real estate agent for their opinion, and be sure to consider how much remodeling inconvenience the rest of the family can handle.

Unless you are ready and able to tackle a major remodel, look for a house or condominium that needs only cosmetic improvements. These include painting, wallpapering and replacing items like flooring, window treatments, bathroom and kitchen fixtures, light fixtures, cabinet and interior door hardware and appliances. Remember that even these simple changes can be costly if you have to make many of them.
Financing
Beware of improvements that seem easy enough at first glance buy may turn into major headaches and require a lot of money once you’ve moved in. Remodeled kitchens and bathrooms, changes to the floor plan, room additions and redesigned landscaping are examples of seemingly minor changes that can easily eat away the money you thought you saved by selecting a so-called “bargain priced” home. Of course, you may be perfectly willing to spend whatever money is needed to customize the house to match your tastes and needs.
Graphs and Charts
Make sure major systems in the house are in good working condition. The furnace, air-conditioning and plumbing should be up to date, since repairs can be costly. Your agent can arrange to have a professional inspector determine whether the electrical wiring and any room additions are to code. Local utilities often offer free or low-cost inspections to tell you if the house is energy-efficient.
Home Inspections
Look for a house with universally popular selling points. If you’re impressed, the next buyer down the line is bound to be, too. For example, a roomy, modern east-to-clean kitchen is the best selling point a home can have. A house with only one bathroom is less desirable than a house with two or more. Many buyers expect at least three bedrooms, with a master bedroom that offers a feeling of privacy. Lots of storage space and closets, especially walk-in closets, will be a real selling point. Family rooms or “great rooms” also are desirable. On closer examination, a house that looks like a bargain may lack some of these key features.
MLS Search
Don’t forget the old adage: location, location, location. Unless you’re looking for a fixer-upper, the house should be in a condition that is comparable to other homes in the neighborhood. Avoid buying the biggest or fanciest home on the block. Consider the amount of traffic or noise. Homes located in a quiet area away from a busy street will command a higher price. Make sure the schools in your district have a reputation for quality education and safety. Nearby supermarkets, gas stations, restaurants and theaters also will make a location more desirable.
Down Payment Programs
Good community facilities also add appeal; pools, athletic fields, community centers, libraries and hospitals all add to a neighborhood’s value and desirability. Transportation needs also should be considered. Is local public transit available? How long are typical commutes to places of current and potential employment? Are there several alternate route? How close is a major airport? All of these can affect a home’s pricing.
Home Buyer's Guide
Consider the cost of living in a home. It’s important to consider not only purchase price but the monthly cost of living in a home. Estimate your utility and maintenance costs. For example, will the house need to be painted on a regular basis and will you need to spend money maintaining a swimming pool? Ask your agent about the property tax rate and whether increases are anticipated. Will you have to pay special assessments for a homeowner’s association? Consider the point in the life cycle of major household systems, such as the furnace, air conditioning, roof and kitchen appliances.

You can find a bargain! Your first step should be to seek out a knowledgeable real estate agent with experience in the market areas where you wish to purchase a home. Your agent can help you locate those properties that truly are “bargains” and help find the home that most closely matches your desires and needs.

Investing in Real Estate

Dwight Puntigan (River City Real Estate) — Sun, 04 Oct 2009 18:56:16 -0500

Investing in Real Estate

Will the need for Rental Property continue to increase?

Could a flow of rental income be helpful if inflation is around the corner?

Depreciation of investment property is always helpful at tax time.

Location and amenities may attract long term tenants (advantages disadvantages)

If you are interested in residential, multi-family, apartments, or multi-use buildings have me show you what is available that may fit your situation.

Contact: dpuntiga@charter.net

Dwight Puntigan

River City Real Estate

636-219-6242

link to my web-site http://dwightpuntigan.point2agent.com/Popular_Searches/page_203587.html

http://www.stcharleshousing.com/commercial-real-estate

St Louis Real Estate is Active

Dwight Puntigan (River City Real Estate) — Fri, 10 Jul 2009 10:49:53 -0500

First time home buyers may take advantage of the $8,000 tax credit http://www.digits.hrblock.com/tipsandpodcasts/text/homecredit.php?otpPartnerId=2889&CampaignID=2889_0017&pgm=31444300

The Missouri housing and development are offering $15,000 to buyers of foreclosed homes http://www.mhdc.com/homes/nsp/index.htm

St Charles county is offering an incentive program to gain new St Charles County home owners. The county provides $500 which is matched by the lender, builder, or seller to provide a one thousand dollar assist with your closing costs. Joe Calcaterra at 314-368-9515 is cooperating with this matching fund program. See http://www.homestcharles.org./ While there also look at the tab for down payment programs available from the cities of St Charles, St Peters, and O'Fallon.

Remember, your least expensive money to purchase housing should be conventional financing. However, this will also require your credit to be at its best, and adequate down payment. FHA mortgages help fill this gap. Read this comparison http://www.fhainfo.com/fhavsconventional.htm

Your VA benefits help your home purchase buy not requiring the 3%+ down payment that the FHA does but also due to government guarantee the credit restrictions are not as strict. Read http://www.vamortgagecenter.com/f/conventional_vs_va_loan.html

As close as Lincoln, Warren, Jefferson, and other rural counties are it is worth looking at USDA funding. The advantage is near 100% financing with less attention to credit score. Read http://www.usdaloanapproval.com/usda_loan_guidelines_index.html

Bankruptcy, foreclosure, unemployment are normally what keeps you out of the housing market. There are tools that often can be used to avoid this if used soon enough. I can't keep you from losing your job, but possibly foreclosure and bankruptcy. Thank you,

Dwight Puntigan
River City Real Estate
636-219-6242 Cell
800-689-6991 Fax
http://DwightPuntigan.Point2Agent.com
http://www.StCharlesHousing.com
http://seniorplanningdwightpuntigan.com/
http://stpetersrealestateinvestment.2trom.com/

Real Estate Informational Links

Dwight Puntigan (River City Real Estate) — Sun, 28 Jun 2009 13:56:01 -0500

Contact:

Dwight Puntigan - River City Real Estate - Real Estate Informational Links

Investment with Dwight Puntigan
Why a 1031 Exchange

Why Tenants in Common

Investing

Undeveloped Land

Financing Fixer Uppers

Planning For You

Contact Us Page:

Residential Real Estate

Commercial Real Estate

Use a Buyer's Agent when Shopping for Real Estate

Dwight Puntigan (River City Real Estate) — Sat, 27 Jun 2009 20:29:10 -0500

I am Designated by my office to work for my client as a buyer's agent if they are shopping for property. One of the very first things I do is is hand my client the Missouri Brokers Disclosure and explain the methods of agent representation. Read http://www.stcharleshousing.com/buyers.htm

If you are just curious as to what the market has to offer, feel free to ask me or take a look at http://dwightpuntigan.point2agent.com/Popular_Searches/page_203587.html

If you would rather search the MLS yourself before asking me use http://dwightpuntigan.point2agent.com/Search_MLS_Listings/page_203592.html

If you are unfamiliar with the buying process, ask me, or take a look at http://www.stcharleshousing.com/homebuyersguide.htm

Ask if you would like a report on the recent activity of what is for sale, what has sold, at what price, how long it took, and the difference between sold price and list price for any given subdivision.

If you are a renter and would like to recieve a free report call or email me and I will forward it to you.

Please contact:

Dwight Puntigan
River City Real Estate
1014 Country Club Road
SSt. Charles, Mo. 63303
636-219-6242

I look forward to assisting you to meet your goals and needs.

Location: St Charles St Louis metro area

Fenced 10 acres for Horses

Dwight Puntigan (River City Real Estate) — Sat, 20 Jun 2009 14:45:02 -0500

Wanted - Acreage - anywhere south of St Louis

Retiree from Colorado needs 10 acres or more fenced, with barn, utilities, small house for 55k to 110k with seller financing or rent to own or lease purchase. Location almost anywhere the land lays decently and perhaps has pond or such with year around water.

If you are retiring to the city and need income or if you are an out of state owner that needs an exit capability call me at 636-219-6242 or email dpuntiga@charter.net

Thank you,              and please visit or

Dwight Puntigan
River City Real Estate
636-219-6242   Cell
800-689-6991   Fax
http://DwightPuntigan.Point2Agent.com
http://www.StCharlesHousing.com
http://seniorplanningdwightpuntigan.com/
http://stpetersrealestateinvestment.2trom.com/

Boone Trail Estates - Now $54950 for 5 acres

Dwight Puntigan (River City Real Estate) — Tue, 04 Nov 2008 18:00:22 -0600

5 Acre Building Lot backs to Innsbrook

$54,950

Location:
1307 Paisley Plc
Wright City, MO 63390

Map and Directions

View
(15 Photos)

Photos

Listed by

Dwight Puntigan

Century 21 Luetkenhaus
Phone: (636) 219-6242

Listing agent/broker: Century 21 Luetkenhaus

Fall colors are at the brightest this time of year. The setback for your house is in the general area of the tree line. There is more than 380 feet of road frontage. The roads are laid out so that there is no through traffic. Ask to have me send you the plat map of the subdivision which shows all the lots, and location of the lake across the street. Plan your dream home, put in your septic, drill the well, thin the brush and trees to enjoy a park like setting for your new home.

Town and Country Houses

Dwight Puntigan (River City Real Estate) — Tue, 14 Oct 2008 11:39:30 -0500

Recently there were 76 active listings for homes in Town and Country, at an average price of $1354,820 with an average size of 4,536 square feet. This is an average cost of $262 per square foot. Sellers the average property here has been on the market for 168 days.

Buyers, these listings are available for your review at http://dwightpuntigan.point2agent.com/Popular_Searches/page_203587.html

If you are considering relocation to or from the Town and Country area call 636-219-6242 or reply to my email address.

I provide free information: Home Buyers Guide, Hiring the Right Agent, How does the Agent Represent You - Agency, Is now a good time to buy, Should I think New Home - Resale - single family - condo - villa, What type of loan is best for this situation - who specializes in those, there are several ways to get down payment assistance. http://www.StCharlesHousing.com

Buyers to see searches from the MLS of other areas use http://dwightpuntigan.point2agent.com/Popular_Searches/page_203587.html
or to search the MLS yourself use: http://dwightpuntigan.point2agent.com/Search_MLS_Listings/page_203592.html

Dwight Puntigan
Century 21 Luetkenhaus
410 Crestview Drive
O'Fallon, Mo. 63366
636-219-6242

Creve Coeur Housing Market

Dwight Puntigan (River City Real Estate) — Tue, 14 Oct 2008 10:49:55 -0500

Contact: Dwight Puntigan
Century 21 Luetkenhaus
410 Crestview Drive
O'Fallon, Mo. 63366
636-219-6242

Recently there were 93 active listings for homes in Creve Coeur, at an average price of $879,422 with an average size of 3,424 square feet. This is an average cost of $226 per square foot. Sellers the average property here has been on the market for 125 days. There have been 112 houses sold during the past 12 months. Thus , the existing supply of housing is about 83% of a years supply. However, the average days on market for houses sold is only 127 days. That is not bad at all in todays market.

Buyers, these listings are available for your review at http://dwightpuntigan.point2agent.com/Popular_Searches/page_203587.html

If you are considering relocation to or from the Creve Coeur area call 636-219-6242 or reply to my email address.

I provide free information: Home Buyers Guide, Hiring the Right Agent, How does the Agent Represent You - Agency, Is now a good time to buy, Should I think New Home - Resale - single family - condo - villa, What type of loan is best for this situation - who specializes in those, there are several ways to get down payment assistance. http://www.StCharlesHousing.com

Buyers to see searches from the MLS of other areas use http://dwightpuntigan.point2agent.com/Popular_Searches/page_203587.html
or to search the MLS uourself use http://dwightpuntigan.point2agent.com/Search_MLS_Listings/page_203592.html
area call 636-219-6242 or reply to my email address.

I provide free information: Home Buyers Guide, Hiring the Right Agent, How does the Agent Represent You - Agency, Is now a good time to buy, Should I think New Home - Resale - single family - condo - villa, What type of loan is best for this situation - who specializes in those, there are several ways to get down payment assistance. http://www.StCharlesHousing.com

Buyers, to see searches from the MLS of other areas use http://dwightpuntigan.point2agent.com/Popular_Searches/page_203587.html
or to search the MLS yourself use http://dwightpuntigan.point2agent.com/Search_MLS_Listings/page_203592.html

MLS listings Available

Dwight Puntigan (River City Real Estate) — Sun, 17 Aug 2008 12:17:46 -0500

For assistance call:

Dwight Puntigan
Century 21 Luetkenhaus
410 Crestview Drive
O'Fallon, Mo. 63366
636-219-6242

If you have an MLS number that you want more information on quickly go to http://dwightpuntigan.point2agent.com/Search_MLS_Listings/page_203592.html once there use the button (next) it will forward you to the next page without choosing an area. Scroll to he bottom of the page to see
MLS# _____

Enter the MLS # in the box and hit search. On the new page toward the bottom one of your choices will be (Click here for more info on this listing...)

You have my cell phone call for anything I will respond as quickly as I can.

If you want to see one of the listings, make an offer, get a neighborhood CMA, or just review the property tax for the listing call or email me.

If you need a reccomendation of a lender for your situation ask.

See organized searches for those listings you really need.

http://dwightpuntigan.point2agent.com/Popular_Searches/page_203587.html

to search the MLS Yourself use http://dwightpuntigan.point2agent.com/Search_MLS_Listings/page_203592.html

If you do not see a match for your criteria, ask me.

I need Buyers and Sellers.

First-Time Home Buyer Tax Credit

Dwight Puntigan (River City Real Estate) — Sun, 17 Aug 2008 11:37:23 -0500

This information is provided for general awareness only, and is not intended for the purpose of providing legal, accounting, tax advice or consulting of any kind. Please consult with your tax professional for complete details. More information is available at IRS.gov.

Provided by:
Dwight Puntigan
Century 21 Luetkenhaus
410 Crestview Drive
O'Fallon, Mo. 63366
636-219-6242
http://Dwightpuntigan.point2agent.com/
http://www.stcharleshousing.com/

2008 Housing Stimulus Legislation
First-Time Home Buyer Tax Credit Fact Sheet
Who is Eligible

· The $7,500 tax credit is available for first-time home buyers only.

· The law defines a first-time home buyer as a buyer who has not owned a home during the past three years.

· All U.S. citizens who file taxes are eligible to participate in the program.

Types of Homes that Qualify for the Tax Credit

· All homes, whether single-family, townhomes or condominiums will qualify.

· However, there are several conditions:

o The home must be used as a principal residence, and
o The buyer has not owned a home in the prior three years.

· The Tax Credit includes newly-constructed homes.

Income Limits

· Home buyers who file as single or head-of-household taxpayers can claim the full $7,500 credit if their adjusted gross income (AGI) is less than $75,000.

· For married couples filing a joint return, the income limit doubles to $150,000.

· Single or head-of-household taxpayers who earn between $75,000 and $95,000 are eligible to receive a partial first-time home buyer tax credit.

· Married couples filing jointly who earn between $150,000 and $170,000 are eligible to receive a partial first-time home buyer tax credit.

· The credit is not available for single taxpayers whose AGI is greater than $95,000 and married couples filing jointly with an AGI that exceeds $170,000.

Effective Dates for the Tax Credit

· First-time home buyers would receive a $7,500 tax credit for the purchase of any home on or after April 9, 2008 and before July 1, 2009. To qualify, you must actually close on the sale of the home during this period.

Tax Credit is Refundable

· A refundable credit means that if you pay less than $7,500 in federal income taxes, then the government will write you a check for the difference.

o For example, if you owe $5,000 in federal income taxes, you would pay nothing to the IRS and receive a $2,500 payment from the government.
o If you are due to receive a $1,000 tax refund from the government, your refund would grow to $8,500 ($1,000 plus $7,500 from the home buyer tax credit).

· If you purchased the home in 2008, the tax credit is taken on your 2008 tax return. If you buy in 2009, you have the option of taking the credit on your 2008 or 2009 tax returns.

Payback Provisions

· The tax credit is an interest-free loan that must be repaid over 15 years.

· The minimum repayment amount must be 15 equal annual installments. For example, if the credit amount is $7,500, then the home buyer must repay a minimum of $500 each year for 15 years.

· A home buyer must begin repaying the credit two tax years after claiming the credit. For example, if the credit is claimed on the 2008 tax return, repayment of $500 (or less, if the credit amount is less than $7,500) per year begins with the 2010 return.

· If the home owner sells the home for a profit and there is a remaining credit, then the home owner is required to repay the remaining credit during the tax year of the home sale. The amount of the repayment will depend upon the amount of profit from the home sale:

o If the profit on the sale is more than the remaining credit, then the home owner must repay the entire remaining credit.
o If the profit on the sale is less than the remaining credit, then the home owner must repay an amount equal to the profit on the home sale. The remaining credit payback will be forgiven.

· If the home owner sells the home but did not make any profit on the home sale, then the remaining credit payback would be forgiven.

Further information regarding the tax credit may be found at www.federalhousingtaxcredit.com or www.irs.gov.
This information is provided for general awareness only, and is not intended for the purpose of providing legal, accounting, tax advice or consulting of any kind. Please consult with your tax professional for complete details

To view listings use: http://dwightpuntigan.point2agent.com/Popular_Searches/page_203587.html

or to search the MLS Yourself use http://dwightpuntigan.point2agent.com/Search_MLS_Listings/page_203592.html

To read about the buying procedure use http://www.stcharleshousing.com/homebuyersguide.htm

Knowing about your Credit Score

Dwight Puntigan (River City Real Estate) — Sat, 16 Aug 2008 11:39:00 -0500

A couple years ago I used this article in the News & Tid Bits that I sent out. Much of it looks to still be applicable. If you have issues, or anticipate them call me. Depending on the topic there are some wonderful professionals that I can put you in touch with. However, as it affects your real estate, your home, buying or selling, refinancing, relocating, etc I have tools available for various situations that could help if we are able to deal with the problems soon enough.

Call:
Dwight Puntigan
Century 21 Luetkenhaus
410 Crestview Drive
O'Fallon, Mo. 63366
636-219-6242

Most emphasis is placed on recent information. For example, a late payment one month ago is weightier than a late payment a year ago. Therefore, time will gradually 'heal' bad credit; every month that passes helps.

The longer an account is open and the more payments that have been made on time, the more points you earn. Thus, taking a new auto loan (installment credit) will lower your score at first, because longevity has not been established and because the balance in proportion to the limit is high. (People buying houses should wait to take out a loan for furniture, appliances, auto, SUV, boat, Jet Ski, etc. until after their home loan is closed.)

Late payments and collection accounts have a major negative impact on the credit score. Collections, or charge-offs, are especially damaging. Even after a collection has been paid off with a zero balance, the fact that it is on your report will significantly lower your score for several years. A ten dollar collection last month can be more damaging than a three year old bankruptcy!

Frequent delinquent payments are more damaging than an isolated delinquency. Also, sporadic late payments (a 30 day late last month and a 30 day late three months ago) are more damaging than successive late payments, (successive 30 day late payments are called a "rolling 30" and it counts as only one late) because of how it reflects on a person's financial habits.

How severely delinquent the payment was (30 days, 60 days, 90 days) affects the credit score. The more severe the delinquency, the more damaging it is to the score. (Late payments less than 30 days late are not reported.) Utility companies do not report late payments unless they go to collection. Therefore if you have to be late on something, be late with the utilities! (Be sure to make satisfactory arrangements to pay the account current.)

Chapter 7 and Chapter 13 bankruptcies affect your credit score equally. More points are not awarded for debt reorganization Chapter 13.

Having more than three open bank cards lowers your score. Having less than three bank cards, will not give you as high a score as having three. Therefore, three open bank cards, all with low balances, are one way to raise your score. But do not close any open accounts after they are open, unless the company terms are no longer favorable. It will reduce the amount of available credit and have a negative influence on overall debt ratios. A person who has $50,000.00 in available credit and is using $30,000.00 will have lower scores after they close several "unused" accounts and only have $40,000.00 in available credit.

Credit balances up to or close to the limit will lower your score, even if all payments have been on time. Therefore, it is better to have several accounts with small balances than one or two accounts with large balances. (Balances should be 0% - 30% of the allowed limit for the best score.) There is a modest hit to score at a 50% balance compared to credit limit. There is a major hit to score at a 75% or higher balance. If balances are carried for some time at 75% or higher it will be impossible to maintain scores over 700.

SPECIAL NOTE! Accounts that are "maxed out" each month, (even if they are paid off each month) will hurt a score. The system will only recognize balances under 30% AT THE TIME OF THE CREDIT PULL for the best score! The solution is to get a limit raised, and only borrow up to the 30% limit.
The proportion of your debt to your income is not counted, because it is illegal to consider income; therefore, people with high incomes who can easily afford to carry a lot of debt will be docked on their scores the same as others for having high balances and/or more than three bank accounts.

Having no revolving credit accounts at all will hurt your score.

When applying for a mortgage loan, mortgage payment history is considered far more important than credit cards or installment loans.

Credit card payment history (revolving credit) is more important than installment loans. Therefore, it is better to pay down credit cards before paying down installment or auto loans.

Having a finance company loan on your credit report will lower your credit score. Having two finance company loans is worse; having three or more is worse still. (A regular auto loan is not considered to be in this category of loan.) Beware of furniture companies, electronics companies, lumber yards and others who set up financing with a finance company. Finance company loans are designed for people who cannot get funds elsewhere, hence the expression "hard money loans."

Debt management companies such as Consumer Credit Counseling reported on your file may significantly lower your credit score. Some creditors will report your payments as being late the entire time you are in CCC because they do not receive full payments each month. Some lenders consider being in a debt management program like being in a self-made chapter 13 bankruptcy.

Repossession, including a voluntary repossession, is a major negative and will damage your credit significantly. Whose fault it was has no bearing on a credit score or in a loan approval.

A mortgage foreclosure is even more credit damaging than a bankruptcy in the eyes of a mortgage lender.

Closing off all accounts and having no open credit will lower your score. Keep longstanding accounts open to improve your score (even with zero balance). Use revolving credit at least every six months. Don't pay cash when you can use credit. Just pay off the account each month. Carrying balances on revolving accounts does not build credit. Paying on time each month builds the credit score.

You can rate shop without hurting your score: All mortgage loan inquiries and all auto loan inquiries within a 14-day period are treated as one inquiry. It is assumed that you are shopping for just one mortgage or just one automobile at a time. The exception to this can occur when some of your inquiries are before and some are after the date of the credit bureaus' monthly update. (Usually around the third week of the month). Most updates occur starting the 24th or the 25th of the month.

Multiple inquires from credit card companies (revolving credit) will lower your score. A person may be looking to open several lines of credit and significantly increase their debt. The trap is "apply for an account and get 20% off your purchase." Yes you got a "deal" and you "dinged" your credit at the same time! Three in a month will burn your score!

Age is not a factor in credit approval; however, length of time that credit is held is a factor. Therefore, maintain your accounts for a long period of time. Be sure to use the account occasionally. Never close an account, unless the terms are unbearable.

Rent does not appear on your credit report. However, when you apply for a mortgage, the lender will request a verification of your rent payment history and consider it heavily in the decision to grant a loan. Therefore, paying rent on time is extremely important when applying for a home loan. It is very important to keep all of your payment records for at least two years. Sometimes cancelled checks are the only recourse!

Length of time from the last delinquent payment, paid off collection, discharged bankruptcy, or other negative report is a factor, so the more time you have been building good credit since then, the better your score will be. An account is damaged by misuse of credit. Proper use of credit is the only way to improve the credit score. You fell "off the horse", get right back on!)
"Credit surfing" or paying off one credit card with another and then another in a rotating fashion, does not look good. It hurts your score because of multiple revolving account inquiries and the short length of time the accounts are open.

You may request a copy of your own credit report without it affecting your score.

Credit card companies and insurance companies sometimes look at credit files to determine who to mail solicitations to. This does not affect your credit score. However, you may request to be excluded from these solicitations.

Everyone has their own individual score. Married persons do not share a score. Therefore, everyone needs to have some credit established in their own name and be responsible for the management of their own credit. (Credit accounts may be held jointly in both names or individually). It is possible to be only an "authorized user" on an account. This type of account can be excluded from the debt ratio! Having several names and addresses for yourself on a credit report will lower your score. This would apply to people who have moved a lot within the past seven years and people who have credit in multiple names such as: Bob Jones, Robert E. Jones, R. Edward Jones, Bobby Jones; or Joanne Smith, Jo Smith, Joan Smith, Joanne K. Smith, Joanne Kathleen Smith, J. Kathleen Smith, Joanne Martin (Maiden name);. If you clear off all the names and addresses except one, your score could go up 20-30 points instantly!

Late payments and collections may remain on a credit report for seven years. Bankruptcies may remain on a credit report for up to ten years. Unpaid tax liens and unpaid civil judgments can remain indefinitely.
Although profession does not affect your credit score, some institutions disfavor certain ones because of their experiences in the past with late payments. Occupations in disfavor are those, which have unstable income, periods of no income, seasonal work, and frequent job changes. In addition, some lenders charge an extra fee to self-employed borrowers, because self-employment carries a higher risk factor.

When first establishing credit It is easier to open department store cards or gasoline cards than it is to open a bank card. Make sure the new card company reports to a credit bureau!

Consider taking out a small personal loan at a bank and deposit the money into a savings account at the same bank as collateral for the loan to help get credit established. The account needs to report for at least six months to be effective. Be sure that the loan is with a "reporting" bank. It is no help to have a loan with a bank that doesn't report to a bureau!

For Listings http://dwightpuntigan.point2agent.com/Popular_Searches/page_203587.html

or to search the MLS Yourself use http://dwightpuntigan.point2agent.com/Search_MLS_Listings/page_203592.html

For Information
http://www.stcharleshousing.com/
http://stcharleshouses.tripod.com/
http://dwightpuntigan.point2agent.com/
http://stpetersrealestateinvestment.2trom.com/
http://seniorplanningdwightpuntigan.bravehost.com/
http://www.visualtour.com/inventory.asp?u=121889
http://activerain.com/dpuntiga/

Reasons for buying a NEW home

Dwight Puntigan (River City Real Estate) — Wed, 13 Aug 2008 18:37:29 -0500

Several months ago there were articles in the media about buying a new home. At the time many builders were scrambling to get the cash needed to pay their subcontractors. The articles didn't say that inventory homes were the best bargain in town, but they were in many cases. Now the biggest discounts are past. This does not mean that I do not take my clients to look at new construction. It is a great choice for many people.

A growing family that needs more space. If it is a three car garage for adult toys or a more private bedroom and bath that are needed tell me where you would like to be located. We will find what meets your criteria, price it by the square foot. There are many areas that you would be surprised how competitive new construction can be. Especially when I show the builders representative com parables.

New homes are much more energy efficient than most existing homes. Not just the appliances, but the insulation, windows, etc are not just new but the tchnology is better. New means that you recieve the benefit of the entire warranty of the item. This applies to roof, furnace, water heater, etc. This lowers your maintenance costs and upkeep. That is even before talking about whether your situation may call for a planned unit development such as condo or villa so that you do not even have to shovel snow.

Many of the amenities that people desire are less expensive to build into the house rather than achieve them by remodeling. This could apply to the larger bathroom, the gourmet kitchen, or the home theater.

Homes period are a great investment. VA with 100% financing, FHA and its 6% down or a builder who uses a 10% down mortgage are all the best leveraging you could do. You control the property, have all the appreciation over time, receive tax advantages on the interest and all for so little money down. The equity in a home can be judiciously borrowed on. Please don't take all the equity out of your house. Ask me about your situation and a lender to refinance. Interest rates are still very low.

Don't forget, there is plenty of money available, you just need to be better qualified for it.

Talk to me about one of the biggest decisions in life and how it applies to your situation.

Dwight Puntigan - Century 21 Luetkenhaus - 636-219-6242

Buyer Agent for Short Sale

Dwight Puntigan (River City Real Estate) — Tue, 29 Jul 2008 14:30:13 -0500

Being a Buyer's Agent for a short sale can be an opportunity to enjoy and learn business. My buyer asks me what my success rate is in getting properties for my buyers. That is an interesting topic.

I like to be able to provide my buyer with all the information he needs to justify his offer price. This includes all the normal information. Comparables to determine what the listing might be worth under what conditions. Conditions including what the market expects the house to be if it is remodeled and upgraded to push the ceiling price of the neighborhood. The buyer needs to do his calculations of acquisition cost. cost of his money, material and labor costs, interest, permits and their requirements.

Now in a short sale I like to have him know if he is making the bank a realistic offer. This is not always easy. The ideal is to know the financing. How much is the first mortgage, the second, and third if there is one. The original financing, and the payoff amount. Take into account the mortgage insurance. Deduct a percentage of interest collected over the term of regular payments received by the bank. Add back in the cost of the sale, as 8%-10%. Then compare that with the BPO. Put all the documentation into a presentation. It is all to provide enough to help the listing agent with the package for the loss mitigation department.

My buyer is interested in cost, return, and time.

A short sale during the pre foreclosure period can be more rewarding then buying a foreclosed home that needs a complete rebuild.

If you are considering investing in Real Estate call me. I will work for you as your buyers agent.

Contact:

Dwight Puntigan - Century 21 Luetkenhaus - 636-219-6242

To view St Charles, St Louis, and Eastern Missouri listings go to

http://dwightpuntigan.point2agent.com/Popular_Searches/page_203587.html

http://dwightpuntigan.point2agent.com/Search_MLS_Listings/page_203592.html

When you consider buying or selling property, talk to me about listing your home and whether it is a short sale, could be wholesaled, or is a retail sale.

The Hardship Test for Short Sales

Dwight Puntigan (River City Real Estate) — Mon, 28 Jul 2008 12:18:48 -0500

Most home owners do not qualify to sell their home for less than what they owe the bank, as a short sale. This is due to most home owners not facing the hardship needed for the bank to accept that both parties are taking a loss, and the best solution is to do the short sale and move on. Writing and documenting a letter of hardship is usually a difficult and emotional experience for the home owner.

Generally the hardship is due to a combination of:

Employment Status changes the families earning power. Whether it is a result of downsizing, out sourcing, transfer, dropping a product line, or merger cost cutting measures. Has transportation, health or injury resulted in your job changing.
Additional unplanned drains on income and assets. This could be the result of death, illness, or other family issues.
Divorce splitting the joint assets.
Adjustable rate mortgage resetting the payments due, to more than the family can afford even with spending savings and investments to make payments.
Military Call ups receive good treatment with some lenders.

These are the most common. Others are reviewed on an individual basis. Situations involving wind, floods, earthquake, etc involve the bank knowing that if they take the property from you, they may not be able to resell it to get anything toward what you owe. Many things may change the value of the neighborhood that could make the property worth less than what you owe.

If you are merely trying to save money a short sale will not work. When your cash, savings, investments, and paycheck allow you to meet the responsibilities of the family and to the mortgage, pay the bank.

If you see your situation changing to an extent where you may miss a payment call me. I can discuss alternatives and offer ideas. In many cases I will refer you to a professional such as CPA or attorney as appropriate. If your life is changing it is never too soon to find out if there is a better path available.

Contact:

Dwight Puntigan - Century 21 Luetkenhaus - 636-219-6242

To view St Charles, St Louis, and Eastern Missouri listings go to

http://dwightpuntigan.point2agent.com/Popular_Searches/page_203587.html

http://dwightpuntigan.point2agent.com/Search_MLS_Listings/page_203592.html

When you consider selling your property, talk to me about listing your home and whether it is a short sale, could be wholesaled, or is a retail sale.

The IRS and Debt Cancelled on Your Mortgage

Dwight Puntigan (River City Real Estate) — Sun, 27 Jul 2008 11:56:56 -0500

When a Short Sale is done on your property, to avoid foreclosure, a part of the mortgage debt is is not applied to the sale. Thus, the sale that the Bank accepts is Short of the outstanding note balance. The Internal Revenue Service by law requires knowledge of that short amount.

The Mortgage Forgiveness Debt Relief Act of 2007 was enacted on December 20, 2007. When you have money that you owe, forgiven or cancelled our government has long recognized that as taxable income. Take a look at http://www.irs.gov/individuals/article/0,,id=179414,00.html. Notice that there is no straight forward yes or no answer provided for whether tax is due. This means that I as your Realtor in these situations will refer you to the professionals such as CPA, or attorney to get the answer you need.

One of the forms that I need to obtain for you from the Bank is the Form 1099-C, Cancellation of Debt. The amount forgiven will be in Box 2. This amount is then entered on lines 2 and 10b on Form 982. Generally the amount of the note that applies to the house is forgiven. Any amount financed as equity to pay off credit cards, car loans, etc could be taxable.

It is never too soon to discuss and gather information using me as your Families Realtor. Call Me.

A few of the services provided are available on one of my web sites: listings, popular searches, search the MLS, or investment.

Contact: Dwight Puntigan - Century 21 Luetkenhaus - 636-219-6242

How to Sell your Property

Dwight Puntigan (River City Real Estate) — Sat, 26 Jul 2008 10:42:45 -0500

Three things sell property in today's market. Marketing, staging, and pricing are the three legs to support a sale.

If you really need to sell your property in today's market, CALL ME.

Contact:
Dwight Puntigan
Century 21 Luetkenhaus
410 Crestview Drive
O'Fallon, Mo. 63366
636-219-6242

A CMA can be done to show what the highs, lows, and medians are for your neighborhood. Then we can take a look at where your property fits within that range. By looking at your situation a determination can be made as to whether there is enough margin to possibly shift your position with additional staging if there could be a suitable return. A plan to meet your criteria is essential. Your criteria definitely needs to take into account cost, location, and availability of your next residence. Please allow me to provide the service you need.

If you would just like to look at some listings before you call or email, try taking a look at http://dwightpuntigan.point2agent.com/Popular_Searches/page_203587.html

Buyers to see searches from the MLS of other areas use http://dwightpuntigan.point2agent.com/Popular_Searches/page_203587.html
or to search the MLS yourself use http://dwightpuntigan.point2agent.com/Search_MLS_Listings/page_203592.html

The MLS search will give you much additional information. If you need help finding it or just want me to send it to you CALL or EMAIL.

I provide free information: Home Buyers Guide, Hiring the Right Agent, How does the Agent Represent You - Agency, Is now a good time to buy, Should I think New Home - Resale - single family - condo - villa, What type of loan is best for this situation - who specializes in those, there are several ways to get down payment assistance. http://www.StCharlesHousing.com

Use my services to be your family Realtor for buying, selling, or any real estate related service.

Do You Want To Sell Your House and Home?

Dwight Puntigan (River City Real Estate) — Sat, 26 Jul 2008 10:11:11 -0500

If it is still your home, and not just a house, you should probably stay in your home till the market changes. The debt to income ratio and high credit scores needed to borrow money are reducing the number of buyers in the market, at the same time that inventory is increasing. If you do not have to sell, then take your home off the market and save yourself the stress you are feeling just about now.

Reasons to sell:

1. Relocation

2. Divorce, Death, Illness

3. Pre foreclosure. If your rates are changing, employment status changes, or health are going to cause you to miss payments with no opportunity to refinance.

Marketing, pricing, and staging sell property. This market calls for using a Realtor who can utilize those three items. It is not the listing Realtor that sells the property. It is the buyer that other Realtors bring through the lisitng. Getting those Realtors to bring the buyers is marketing. Then pricing and staging will sell the buyer. Call to talk about a Short Sale.

Contact: Dwight Puntigan - Century 21 Luetkenhaus - 636-219-6242

If you are just curious as to what the market has to offer, feel free to ask me or take a look at http://dwightpuntigan.point2agent.com/Popular_Searches/page_203587.html

If you would rather search the MLS yourself before asking me use http://dwightpuntigan.point2agent.com/Search_MLS_Listings/page_203592.html

If you are unfamiliar with the buying process, ask me, or take a look at http://www.stcharleshousing.com/homebuyersguide.htm

3208 Rue Royale For Sale (New Town, Mo. 63301)

Dwight Puntigan (River City Real Estate) — Fri, 25 Jul 2008 20:29:01 -0500

1,150 square foot store front facing Rue Royale in New Town. Sidewalk area is patio width for table and chairs. This three story building has two 1,000 square foot 2 story town houses upstairs front and back. These two bedroom, two and one half bath townhouses share a common stairwell that allows them sidewalk access and a door to the huge parking lot in back of the building. The two town houses are leased for the next 2 years

This 3,450 square foot building is listed for $133 per square foot whichis less than or equal to the new construction in the area. The big difference is that this building already has cash flow.

For more information: http://dwightpuntigan.point2agent.com/Saint_Charles/Missouri/Commercial_Real_Estate/80042859/Saint_Charles/Agent/Listing_1854185.html
For Visual Tour: http://dwightpuntigan.point2agent.com/Listing/VirtualTour.ashx?listingid=1854185

For additional listings of this type: http://dwightpuntigan.point2agent.com/Popular_Searches/page_203587.html

or to search the MLS Yourself use http://dwightpuntigan.point2agent.com/Search_MLS_Listings/page_203592.html

To read about the buying procedure use http://www.stcharleshousing.com/homebuyersguide.htm

Contact:
Dwight Puntigan
Century 21 Luetkenhaus
410 Crestview Drive
O'Fallon, Mo. 63366
636-219-6242

1150ft² - Office - Retail - Professional Space for Lease

Dwight Puntigan (River City Real Estate) — Fri, 25 Jul 2008 20:19:05 -0500

Contact:
Dwight Puntigan
Century 21 Luetkenhaus
410 Crestview Drive
O'Fallon, Mo. 63366
636-219-6242

Space is ready for build out. Owner will work with you according to your needs. Curb parking available in front, and a large parking lot in the back of the building. Side walk in front is patio width. Lease available for $1,150 per month for the 1,150 square foot space.

3208 Rue Royale, St. Charles, Mo. 63301

For more information: http://dwightpuntigan.point2agent.com/Saint_Charles/Missouri/Commercial_Real_Estate/80042859/Saint_Charles/Agent/Listing_1854185.html

For visual tour: http://dwightpuntigan.point2agent.com/Listing/VirtualTour.ashx?listingid=1854185

When Do You Stop Giving Your Client Information

Dwight Puntigan (River City Real Estate) — Fri, 16 May 2008 17:27:57 -0500

If your client is evaluating the ecconomics of relocating he is also judging different areas around town. That is easy with our software. We can show for almost any area compairison between the number of houses, days on market, numbers for 2 bedrooms compared with 3, 4, and 5 bedroom configurations. So if the style of house that I desire sells better in one area than another we can figure that out.

Be careful. That area has a lot of foreclosures as shown by providing a list of actives, contingent, pending, and solds. The client then asks about hedging on the chances of appreciation over the next three to five or seven years before he is relocated again. Well you say that is an ecconomical area to buy into. But the lender tells him that is a declining market, and the client woners why you did not tell him that.

Well I am not an expert and olnly provide sources of information. I can not tell you how it is interpreted due to the fact that I may be STEERING you to one neighborhood intead of another. OH BOY!

Realtor has clients needs help to meet their needs

Dwight Puntigan (River City Real Estate) — Thu, 20 Mar 2008 13:33:47 -0500

Listed property does not always meet the needs of the client. Often it is possible to drive an area see FSBO or For Rent signs and network out a solution for one or more needs. This is a situation of deciding to try something different. If anyone feels they can help my clients please call or write me. I am asking for help from real estate agents, property managers, and property owners.

Clients Needs:

Growing distributor in 63366 needs between 5,000 and 10,000 square feet of wharehouse space. No office space required, no heat or cooling needed. Lease for about $4.50 modified gross, tenant pays utilities and janitorial.

Client needs used car lot for 30 to 40 cars west St. Louis county through St. Charles. Lease for 12 months at about $2,000 a month.

Lease or purchase for a used car business. Needs 2 to 3 bay garage and space for 10 cars with additional space for clients. Located from Maryland Heights through Wentzville. Costs about $1,500 a month with tenant paying utilities, and janitorial.

Lease a site for auto repair and space for about 10 used cars in St. Charles area. Costs about $1,500 a month with tenant paying utilities, and janitorial.

Small church of about 20 members needs about 1,200 square feet near interstate 70 form St. Charles through St. Peters. Needs to keep costs around $800 a month. Will lease a store front or purchase small building at about the same costs.

Hair salon needs 900 to 1,300 square feet in St. Charles, St. Peters area for $650 a month.

Client needs lease purchase of 1,750 square foot home in 63385 for about $1,250 with equity set aside included.

Call or email:

Dwight Puntigan

Century 21 Premier Lifestyles

1529 Old Highway 94 South

636-219-6242

dpuntiga@charter.net

1318 Highland Oaks Dr. Unit D, Ballwin, Mo. 63021 FOR SALE $125,490

Dwight Puntigan (River City Real Estate) — Tue, 29 Jan 2008 12:39:58 -0600

Reply to: dpuntiga@charter.net

This listing has been CANCELED

Spacious and open condominium, with 1006 square feet of living area.

Features
Kitchen with dishwasher/stove/microwave/double door refrigerator
Dining area with large window
Living room with triple width window
Laundry room/closet 5 x 3
Two full Baths / condo has wired smoke alarms
Bedroom with 4 x 8 walk in closet and about 5 x 10 deck
Master bedroom larger than 13 x 12 with oversize closet
Includes almost all window treatments, washer, dryer, and refrigerator
Pergo flooring through entire condo and ceiling fans in most areas
Single car garage with opener
Private secure indoor storage area 12 x 10
additional parking available for guests
Association pays trash, water, sewer
Electric bill on the budget plan was $59 per month last year
The heating/cooling unit and hot water heater are all less than two years old

For additional information visit http://dwightpuntigan.point2agent.com/
For directions and more info visit http://www.visualtour.com/show.asp?T=1365529
MLS 80006002 View Listings

1318 Highland Oaks Dr. Unit D at Pocono Trail google map yahoo map

What I don't know about real estate investment

Dwight Puntigan (River City Real Estate) — Thu, 24 Jan 2008 20:18:19 -0600

Not all that long ago people were investing in real estate that had no idea what cap rate or cash flow had to do with it. A cap rate of 2 or 3 was fine since all that mattered was being able to leverage into the building for three years and get out with 30% or more appreciation. Stated income and adjustable rates and interest only causing many of those folks with multi family buildings to be up side down now or looking at loosing the buildings. So place an ad that says......

Do You Own Multi Family Housing

posted: January 24, 2008, 02:52 PM

Reply: mailto:dpuntiga@charter.net?subject=Do You Own Multi Family Housing

Are your rents paying your expenses?
Is your cost of financing increasing faster than your rents?
Do you enjoy doing your own property management?
Is your property still appreciating?
Are you getting full benefit of depreciation or is your tax cost basis too low?

If you have doubts about your real estate investment call me.

Well, we have the tools. Get them to refinance. If there is hardship work a short sale to avoid foreclosure. 1031 is always there to freshen the investment portfolio. Tenant in common situations sound perfect. Let the mind run and see what are the possible advantages of getting the tenants together in a building and set up a TIC situation for them to buy the building.

i always liked the huge professionally managed NNN Tics. Nar and the SEC are still squabling over that and in the mean time even though passive ownership is supposed to be a security it seems both are available. It would also seem that if an investor wants to keep his cost basis up to date every seven years or so it will not be easy. It would also seem that I should recognize a situation where it is best for my client to be in a REIT instead of the real estate.

I need to learn more about this. If you have experience share with me.