Karla 's Blog

Asbestos

Karla Sparks (Chinowth & Cohen Realty) — Tue, 19 May 2009 18:21:42 -0500

Asbestos Prevention Tips & Healthy Alternatives for Oklahoma Homeowners

The path to owning a home is a rewarding accomplishment that will require many new responsibilities. Homes that are newly purchased may require additional remodeling or repairs.

With the state of Oklahoma relying on oil production for many years, asbestos use was prevalent for decades. Highly regarded throughout the 20^th century, asbestos was the ideal building material for many industries. Often appearing in roof shingles, popcorn ceilings, piping and insulation, asbestos became one of the most popular building applications of the 20^th century. Potential Oklahoma home buyers should be aware that homes constructed before 1980 should be aware that the potential for asbestos-containing materials is still present.

This should not make you jump out of your chair because asbestos exposure is easily avoidable by taking simple precautions.

There are many green eco-friendly construction materials that replace the need for asbestos and can reduce annual energy costs. Environmental efficiency is on the rise because of technology and green sustainable methods progressing rapidly. Not only will these methods produce a healthier lifestyle, it will save you money!

Asbestos in the Home

Removal of asbestos in public facilities, workplaces and homes should be performed by licensed abatement contractors as long as the National Emissions Standards for Hazardous Air Pollutants (NESHAP) are not violated. They must wear protective equipment such as masks and gloves to avoid any exposure. The materials should be removed in as large pieces as possible and places in disposable bags.

If any asbestos is suspected, the best advice is to leave it un-disturbed. Touching or breaking it off may cause it to become damaged and release its fibers into the air. When asbestos deteriorates and its fibers become airborne, it has the potential of causing severe lung ailments such as malignant mesothelioma and asbestosis. Physician diagnosis has been a difficult task because mesothelioma symptoms are so similar to other, less serious conditions.

Healthy Tips

With increasing technology and public initiatives, green alternatives exist which allow for an asbestos free environment. Cotton fiber is also becoming a favorite insulation method. Made from recycled batted material, it is then treated to be fireproof. Water based spray polyurethane foam, lcynene, is a healthy insulation which contains no toxic components. Studies have shown these materials can assist in reducing annual energy costs by 25 percent.

Building green with proper insulation will save you on bills. Rather than expensive and mal-treated wood, interior walls can be made from steel and concrete, avoiding many of the problems associated with asbestos and other insulation methods.

Recently, congress passed the American Recovery and Reinvestment Act into law. Included in this act were extensions to the tax incentives placed for energy efficiency in 2005, as well as new credits for homeowners who remodel or build using eco-sustainable methods. Existing homes are eligible for a series of efficiency measures that pertain to the home shell (Insulation, Windows, Sealing) worth 30% of the installed cost (materials only, labor is not included in the credit basis).

Find out more here: Paul James,the Awareness Coordinator (paul@asbestos.com) at the Mesothelioma Cancer Center (www.asbestos.com)

Tax Credit Can Be Used for Down Payment

Karla Sparks (Chinowth & Cohen Realty) — Tue, 12 May 2009 19:39:37 -0500

Daily Real Estate News | May 12, 2009 | Share Tax Credit Can Be Used for Down Payment
Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, on Tuesday said that the Federal Housing Administration is going to permit its lenders to allow home buyers to use the $8,000 tax credit as a down payment.

Previously, most buyers wouldn't receive the funds until after they filed their tax return, and that deterred some people from using the credit. The NATIONAL ASSOCIATION OF REALTORS® has been calling for the change.

"We all want to enable FHA consumers to access the home buyer tax credit funds when they close on their home loans so that the cash can be used as a down payment," Donovan says. His remarks came in an address to several thousand REALTORS® gathered Tuesday morning at "The Real Estate Summit: Advancing the U.S. Economy," at the 2009 REALTORS® Midyear Legislative Meetings & Trade Expo in Washington, D.C..

He says FHA's approved lenders will be permitted to "monetize" the tax credit through short-term bridge loans. This will allow eligible home buyers to access the funds immediately at the closing table.

Other Solutions for Today's Market

During his address at the summit, Donovan went on to say that the Obama administration plans to further stabilize the housing market. "I do think we have some early signs that the market overall is stabilizing," Donovan says. "Since January we've seen both home sales moving up and down around a relatively stable number and we are seeing the first signs that the rapid decline in home prices is starting to abate."

The morning session included a panel discussion that was moderated by CNBC's Ron Insana. Panelists examined cutting-edge solutions necessary to promote and preserve homeownership and real estate development, stimulate the economy, and protect the nation's taxpayers. They also shared their ideas on what the role and responsibility of the federal government is in the revitalization effort.

"Right now the Federal Reserve is the market," said panelist Jay Brinkman, chief economist for the Mortgage Bankers Association. "What will be the effect when the Fed stops buying?" Brinkman explained that an exit strategy must be planned for the long-term; the federal government cannot continue to support the mortgage markets indefinitely.

"We are thrilled that so many high-caliber individuals were able to join us today at this important meeting to promote stability in the housing market and the U.S. economy," said NAR President Charles McMillan. "We look forward to an ongoing dialogue and action toward this goal, during our midyear meetings this week and beyond."

The real estate summit is part of the 2009 REALTORS® Midyear Legislative Meetings & Trade Expo. During the week ending May 16, more than 8,500 REALTORS® will attend meetings, visit lawmakers and inspire action on Capitol Hill.

Source: NAR

"Copyright National Association of REALTORS®, Reprinted from REALTOR.org with permission."

Short Sales

Karla Sparks (Chinowth & Cohen Realty) — Sun, 29 Mar 2009 10:09:47 -0500

Making an Offer on a Short Sale? What You Need to Know

Are you looking to buy a new home? Are you thinking that now's a great time to find bargains? Before you make an offer, it pays to know a little about the seller's situation.

If a home is being sold for below what the current seller owes on the property-and the seller does not have other funds to make up the difference at closing-the sale is considered a short sale. Many more home owners are finding themselves in this situation due to a number of factors, including job losses, aggressive borrowing against their home in the days of easy credit, and declining home values in a slower real estate market.

A short sale is different from a foreclosure, which is when the seller's lender has taken title of the home and is selling it directly. Homeowners often try to accomplish a short sale in order to avoid foreclosure. But a short sale holds many potential pitfalls for buyers. Know the risks before you pursue a short-sale purchase.

You're a good candidate for a short-sale purchase if:

You're very patient. Even after you come to agreement with the seller to buy a short-sale property, the seller's lender (or lenders, if there is more than one mortgage) has to approve the sale before you can close. When there is only one mortgage, short-sale experts say lender approval typically takes about two months. If there is more than one mortgage with different lenders, it can take four months or longer for the lenders to approve the sale.
Your financing is in order. Lenders like cash offers. But even if you can't pay all cash for a short-sale property, it's important to show you are well qualified and your financing is set. If you're preapproved, have a large down payment, and can close at any time, your offer will be viewed more favorably than that of a buyer whose financing is less secure.
You don't have any contingencies. If you have a home to sell before you can close on the purchase of the short-sale property-or you need to be in your new home by a certain time-a short sale may not be for you. Lenders like no-contingency offers and flexible closing terms.

If you're serious about purchasing a short-sale property, it's important for you to have expert assistance. Here are some people you want to work with:

Experienced real estate attorney. Only about two out of five short sales are approved by lenders. But a good real estate attorney who's knowledgeable about the short-sale process will increase your chances getting an approved contract. Also, if you want any provisions or very specialized language written into the purchase contract, a real estate attorney is essential throughout the negotiation.
A qualified real estate professional.* You may have a close friend or relative in real estate, but if that person doesn't know anything about short sales, working with him or her may hurt your chances of a successful closing. Interview a few practitioners and ask them how many buyers they've represented in a short sale and, of those, how many have successfully closed. A qualified real estate professional will be able to show you short-sale homes, help negotiate the purchase when you find the property you want to buy, and smooth communications with the lender. (All MLSs permit, and some now require, special notations to indicate that a listing is a short sale. There also are certain phrases you can watch for, such as "lender approval required.")
Title officer. It's a good idea to have a title officer do an initial title search on a short-sale property to see all the liens attached to the property. If there are multiple lien holders (e.g., second or third mortgage or lines of credit, real estate tax lien, mechanic's lien, homeowners association lien, etc.), it's much tougher to get that short sale contract to the closing table. Any of the lien holders could put a kink in the process even after you've waited for months for lender approval. If you don't know a title officer, your real estate attorney or real estate professional should be able to recommend a few.

Some of the other risks faced by buyers of short-sale properties include:

Potential for rejection. Lenders want to minimize their losses as much as possible. If you make an offer tremendously lower than the fair market value of the home, chances are that your offer will be rejected and you'll have wasted months. Or the lender could make a counteroffer, which will lengthen the process.
Bad terms. Even when a lender approves a short sale, it could require that the sellers sign a promissory note to repay the deficient amount of the loan, which may not be acceptable to some financially desperate sellers. In that case, the sellers may refuse to go through with the short sale. Lenders also can change any of the terms of the contract that you've already negotiated, which may not be agreeable to you.
No repairs or repair credits. You will most likely be asked to take the property "as is." Lenders are already taking a loss on the property and may not agree to requests for repair credits.

The risks of a short sale are considerable. But if you have the time, patience, and iron will to see it through, a short sale can be a win-win for you and the sellers.

"Copyright National Association of REALTORS®, Reprinted from REALTOR.org with permission."

$8,000 Tax Credit for First-Time Home Buyers

Karla Sparks (Chinowth & Cohen Realty) — Mon, 16 Mar 2009 11:51:05 -0500

Expanded Tax Break Available for 2009 First-Time Homebuyers

IR-2009-14, Feb. 25, 2009

WASHINGTON - The Internal Revenue Service announced today that taxpayers who qualify for the first-time homebuyer credit and purchase a home this year before Dec. 1 have a special option available for claiming the tax credit either on their 2008 tax returns due April 15 or on their 2009 tax returns next year.

Qualifying taxpayers who buy a home this year before Dec. 1 can get up to $8,000, or $4,000 for married filing separately.

"For first-time homebuyers this year, this special feature can put money in their pockets right now rather than waiting another year to claim the tax credit," said IRS Commissioner Doug Shulman. "This important change gives qualifying homebuyers cash they do not have to pay back."

The IRS has posted a revised version of Form 5405, First-Time Homebuyer Credit, on IRS.gov. The revised form incorporates provisions from the American Recovery and Reinvestment Act of 2009. The instructions to the revised Form 5405 provide additional information on who can and cannot claim the credit, income limitations and repayment of the credit.

This year, qualifying taxpayers who buy a home before Dec. 1, 2009, can claim the credit on either their 2008 or 2009 tax returns. They do not have to repay the credit, provided the home remains their main home for 36 months after the purchase date. They can claim 10 percent of the purchase price up to $8,000, or $4,000 for married individuals filing separately.

The amount of the credit begins to phase out for taxpayers whose adjusted gross income is more than $75,000, or $150,000 for joint filers.

For purposes of the credit, you are considered to be a first-time homebuyer if you, and your spouse if you are married, did not own any other main home during the three-year period ending on the date of purchase.

The IRS also alerted taxpayers that the new law does not affect people who purchased a home after April 8, 2008, and on or before Dec. 31, 2008. For these taxpayers who are claiming the credit on their 2008 tax returns, the maximum credit remains 10 percent of the purchase price, up to $7,500, or $3,750 for married individuals filing separately. In addition, the credit for these 2008 purchases must be repaid in 15 equal installments over 15 years, beginning with the 2010 tax year.

http://www.irs.gov/newsroom/article/0,,id=204672,00.html

Free Breakfast at Mimi's Cafe

Karla Sparks (Chinowth & Cohen Realty) — Mon, 02 Mar 2009 15:04:20 -0600

Mimi's Cafe (near Woodland Hills Mall if you're in Tulsa) is giving away free breakfast entrees when you sign up for their email newsletter.You can unsubscribe from the newsletter anytime, and it doesn't cost anything to join.

You're not required to purchase anything to get the free entree.

You can find the sign up box at the bottom left side of the webpage under E-Club.

It's a pretty good deal

I printed a coupon last week and had a nice dinner (even though I had a breakfast entree) with my husband.

Don't sign-up until you plan to use the coupon because it will expire 2 weeks after you sign-up.

http://www.mimiscafe.com/

Other freebie sites:

http://www.totallyfreecrap.com

http://www.heyitsfree.net

http://www.savingadvice.com/freebies.php

Teachers, Police Officers, Firefighters, EMT Buy a Home with 50% Discount

Karla Sparks (Chinowth & Cohen Realty) — Tue, 03 Feb 2009 13:59:45 -0600

About Good Neighbor Next Door (GNND)

Law enforcement officers, pre-Kindergarten through 12th grade teachers and firefighters/emergency medical technicians can contribute to community revitalization while becoming homeowners through HUD's Good Neighbor Next Door Sales Program. HUD offers a substantial incentive in the form of a discount of 50% from the list price of the home. In return you must commit to live in the property for 36 months as your sole residence.

How the Program Works

Eligible Single Family homes located in revitalization areas are listed exclusively for sales through the Good Neighbor Next Door Sales program. Properties are available for purchase through the program for five days.

How to Participate in Good Neighbor Next Door

Check the listings for your state. Follow the instructions to submit your interest in purchasing a specific home. If more than one person submits on a single home a selection will be made by random lottery. You must meet the requirements for a law enforcement officer, teacher, firefighter or emergency medical technician and comply with HUD's regulations for the program.

HUD requires that you sign a second mortgage and note for the discount amount. No interest or payments are required on this "silent second" provided that you fulfill the three-year occupancy requirement.

The number of properties available is limited and the list of available properties changes weekly.

**Please contact Karla Sparks, 344-SOLD if you're interested in finding out more about available homes.

http://www.hud.gov/offices/hsg/sfh/reo/goodn/gnndabot.cfm

Helpful Real Estate Links

Karla Sparks (Chinowth & Cohen Realty) — Tue, 03 Feb 2009 10:11:25 -0600

Here are some real estate related websites that you might find helpful:

Oklahoma Housing Finance Agency www.ofha.org

National Association of Realtors www.realtor.com

Real Estate Articles www.realtytimes.com

Federal National Mortgage Association http://www.fanniemae.com/index.jhtml

Federal Home Loan Mortgage Association http://www.freddiemac.com/

U.S. Department of Veteran's Affairs http://www.va.gov/

Rural Home Loan Information http://www.usda.gov/wps/portal/usdahome

Fair Issac Corporation www.myfico.com information about credit scores

Free Annual Credit Report www.annualcreditreport.com

Better Business Bureau www.bbb.com

Loan Officers

Karla Sparks (Chinowth & Cohen Realty) — Tue, 03 Feb 2009 09:58:54 -0600

Buying a home or refinancing can sometimes be a little nerve racking. It helps when you know that you can call a professional that will go out of his/her way to help you. Here are three loan officers that I've found to be very friendly and helpful.

Toni Rogers:

http://www.fmbank-mortgage.com/EmployeeDetail.aspx?EmployeeID=3144&

Mark Wright :

http://www.firstmortgageco.com/markwright/

Kerrick Draper:

http://kerrickdraper.coldwellbankermortgage.com/

Mortgage Applications Surge on Low Rates

Karla Sparks (Chinowth & Cohen Realty) — Fri, 30 Jan 2009 14:18:51 -0600

Daily Real Estate News | January 21, 2009 |

Mortgage Applications Surge on Low Rates

U.S. mortgage applications spiked in the first full week of 2009 as record low interest rates triggered the highest demand for loan refinancing in 5-1/2 years, according to the Mortgage Bankers Association.

Low mortgage rates, however, have yet to fuel a surge in loans for home purchases.

The MBA said its seasonally adjusted index of mortgage applications for the week ended Jan. 9 increased 15.8% to 1,324.8. That's the highest reading since the week ended July 11, 2003, when it reached 1,358.2.

Thirty-year mortgage rates have dropped dramatically since the Federal Reserve unveiled a plan in November to buy as much as $500 billion of mortgage securities backed by Fannie Mae, Freddie Mac, and Ginnie Mae.

The refinance share of applications increased to 85.3% from 79.8% the previous week, the highest level since the MBA started conducting its survey in 1990.

Spencer Rascoff, chief operating officer at Zillow.com, an online real estate service company based in Seattle, said loan requests to his company are up more than 200% from just two months ago, with loan requests on pace to hit about 25,000 in January and loan quotes on pace to hit 200,000.

"Many experts agree that rates will stay relatively low for at least the next few months since the federal government is now committed to buying mortgage-backed securities to keep borrowing costs low," Rascoff said.

Here's a sampling of interest rate drops:

30-year-fixed mortgages, averaged 4.89%, down 0.18 percentage point from the previous week, the lowest level recorded in the MBA's survey's history.

15-year fixed mortgage averaged 4.63%, down from 4.67% the previous week.

One-year ARMs decreased to 5.89% from 5.90%

Source: Reuters, CNNMoney.com (01/21/2009)

Toll Bros. Offers 3.99% Fixed Mortgage Deal

Karla Sparks (Chinowth & Cohen Realty) — Mon, 26 Jan 2009 11:22:19 -0600

Toll Bros. Offers 3.99% Fixed Mortgage Deal

Luxury home builder Toll Brothers last week began offering a 3.99 percent fixed-rate mortgage for loans $417,000 or below for 30 years with no points.

The rate is well below the national average of slightly less than 5 percent and lower than most other builders are offering.

"We're curious to see how many [deals] it generates," says Don Salmon, president and chief executive of TBI Mortgage Co., Toll's mortgage subsidiary.

Other builders haven't immediately followed suit, but "it's definitely something that if they haven't considered it already, they will," said Brent Anderson, vice president of investor relations for Meritage Homes Corp., which doesn't have a mortgage subsidiary.

Centex Corp. and Lennar Corp. have bought down mortgages, offering buyers 3.5 percent for the first two years. The rate then locks in at 4.5 percent.

Source: The Wall Street Journal, Dawn Wotapka (01/22/09)

**My stepson and his wife just purchased a home for 3.5% for first year and it locked in at 5.75% here in Owasso. Some great deals out there.

Daily Poem: Tiny Things

Karla Sparks (Chinowth & Cohen Realty) — Sat, 24 Jan 2009 09:30:49 -0600

TINY THINGS

The murmur of a waterfall a mile away,

The rustle when a robin lights upon the spray,

The lapping of a lowland stream on dipping boughs,

The sound of grazing from a herd of gentle cows,

The echo from a wooded hill of a cuckoo's call,

The quiver through the meadow grass at evening fall;

Too subtle are theses harmonies for pen or rule,

Such music is not understood by any school,

But when the brain is overwrought, it hath a spell

Beyond all human skill and power to make it well.

The memory of a kindly word far long gone by,

The fragrance of a fading flower sent lovingly,

The gleam of a sudden smile or sudden tear,

The warmer pressure of the hand, the tone of cheer,

That hush that means: I cannot speak but I have heard

The note that bears only a verse from God's own word.

Such tiny things we hardly count as ministry,

The givers deeming they have shown scant sympathy,

But when the heart is overwrought, oh, who can tell

The power of such tiny things to make it well!

---Scranton Truth

Writing Business Letters

Karla Sparks (Chinowth & Cohen Realty) — Thu, 22 Jan 2009 11:52:52 -0600

Write Letters That Sell
Whether they're sent via e-mail or snail mail, well-written letters give buyers and sellers a compelling reason to do business with you. By John D. Mayfield, Sales Coach | February 2009

Think letter-writing isn't important anymore? Think again. Whether sent via e-mail or the U.S. Postal Service, the written word is still essential to client communications. Knowing how to construct and compose a good business letter is a critical part of successful dealings with customers.

Why are letters important in the age of text messaging? A letter lasts forever. OK, maybe not forever. But it surely outlasts a Twitter message. I think of every real estate letter as resume-a part of your identity. Each letter that accompanies your name and business card tells consumers a little bit about who you are and why they should do business with you. I will first talk about hard-copy letters, and then provide some tips for e-mail correspondence.

The Elements of a Business Letter

There are some basic elements of a business letter that should generally be included with every piece of correspondence you draft:

Date
Your Address
Inside Address (Recipient's Address)
Salutation
Body
Closing
Signature
Printed Name
Enclosure
Reference Initials

Professional Format

While there are a few main types of business letter formats, the full block is the most popular today, and it's also the simplest style to implement. With the full block format, all paragraphs are single-spaced and flush left of the document. The following is an example of a full block letter which incorporates all of the essential elements.

Month, Day, Year

Recipient's Name and Address

Salutation,

Body: Single spaced, with line between paragraphs. Hi, my name is [Agent's Name], and I just sold the home at [Listing Address] in your neighborhood. Are you considering a move, or, would you just like to know the value of your property?

Either way, call me for a free price evaluation on what your house might be worth on today's real estate market. I'll be glad to provide this information for you at no cost and no obligation. I hope you'll welcome your new neighbors to the area, and please keep my business card on file if I can help you in any way.

Closing (Thank you),

Signature

Printed Name

Enclosure (omit if there's no enclosure)

Typist's initials (omit if you typed the letter yourself)

Although this letter did not incorporate the subject or enclosure lines, the major elements of the business letter are included. Make sure you check your margins and spacing before printing your letter. Most word processor programs include a "print preview" button that will show you what the letter will look like prior to printing. This feature can help you adjust any discrepancies your letter format may contain. Having your letter positioned correctly on your stationary will lead to your positive and professional image.

Your Message: Give it a Nice Ring

Now that you have a general guide and plan for your business letter, making your document ring with a compelling reason for your reader to do business with you is important. Here are a few tips to keep in mind when writing your letter:

Remember who you're writing to. Avoid high tech jargon or other confusing words that the reader may not be familiar with. Write with simple, easy-to-understand words that the reader can understand.

Be specific and clear. Most people do not want to read a long-winded letter, so keep your letter concise. Have an objective when you write, and avoid covering details that are unnecessary for the reader.
Proved something of value. Offering something of value to the reader can be a good way to keep interest and get future business. The right kind of value to the reader can sometimes be a clever way to make a connection and the possibility to do business in the future.
Ask for the business. Don't be afraid to ask for the business within your business letter. Most good letters will attempt to close the sale with the reader.
Close with something positive or a thank you. Finally, closing your letter with an upbeat statement or a thank you is a win/win situation for you as the real estate professional. After all, the reader did take the time to read your letter, why not end with a positive closing.
Check your spelling and have a friend proofread. Use Spellcheck and, especially if you're sending the letter to many people, ask a trusted friend or colleague to proofread. You want to provide a polished, professional image, and typos will detract from that.

Rules for Good E-mails

E-mail can be a bit more informal than letters sent through the U.S. mail. However, there are several good rules to follow for effective e-mail communication with clients and colleagues. Follow these rules, even if you're just sending a quick update e-mail to buyers. You always want your message to give a positive reflection of who you are.

First, make sure your e-mail address is professional. Avoid using silly and off-beat e-mail addresses that contain slang or nicknames.

Next, use the subject line of the e-mail wisely. It should be short, descriptive, and compelling. Just as with a regular letter, the e-mail should open with a salutation.

For the body, avoid indenting and using special backgrounds that could be distracting or make it difficult for the recipient to read. The tone of the message should be professional; avoid using smiley-face emoticons or making jokes-humor is personal, and it's even harder to understand when it's in writing.

Close with a salutation and your contact information. Most e-mail programs allow you to create a "signature" with your name, address, and phone number. The signature can be automatically added to the end of each message.

Finally, e-mails should be short and easy to read. Lengthy e-mails can be a big turnoff. Show your prospects and clients that you respect their time, and keep your message to the point.

Use Letters to Stand Out

Understanding and implementing the essential elements of a business letter and e-mail can help you stand out from your competitors and prove that you're attentive to detail-the right person for the job. Remind yourself the next time you sit down to write that letter or e-mail that this piece of correspondence will tell consumers a lot who you are as a professional. It just might be the difference in getting your next transaction.

John D. Mayfield is a sales coach, author, and broker/owner of Mayfield Real Estate in Farmington, Mo. You can contact Mayfield through his Web site.

The website below has some good examples of business letters

http://jobsearchtech.about.com/od/letters/l/bl_b_letters.htm

Pasta Puttanesca

Karla Sparks (Chinowth & Cohen Realty) — Wed, 21 Jan 2009 21:30:59 -0600

SERVES 6

Ingredients

10-12 ounces linguine
1/4 cup dry red wine
1 tablespoon light olive oil or extra-virgin olive oil
1 medium shallot, minced
3-4 garlic cloves, minced
1 (14 ounce) can Italian plum tomatoes, lightly drained and chopped
1 (14 ounce) can crushed tomatoes or tomato puree
1/2 cup pitted black olives, coarsely chopped
1/2 cup stuffed green olive, coarsely chopped
1 teaspoon dried oregano
fresh ground pepper, to taste
1/2 cup chopped fresh parsley
grated parmesan cheese or vegan parmesan cheese (for topping)

Directions

Cook pasta al dente according to package directions.
While the pasta is cooking, Add the wine, olive oil, shallot, and garlic to a medium skillet.
Bring the mixture to a boil, cover, and cook 2 minutes.
Add in the tomatoes (chopped and crushed) olives, and oregano; cover and simmer 12 minutes.
When the linguine is done, drain well and transfer to a large serving bowl; top with olive sauce and fresh ground pepper.
Toss to combine (adjust seasoning to taste).
Sprinkle with parsley and parmesan cheese

**You might want to add artichoke hearts to this recipe

http://www.recipezaar.com/Pasta-Puttanesca-125953

Daily Poem: Do It Now

Karla Sparks (Chinowth & Cohen Realty) — Tue, 20 Jan 2009 18:48:04 -0600

Do It Now

I expect to pass through this world but once. Any good

thing, therefore, that I can do or any kindness

I can show to any fellow human being let me do it now.

Let me not defer nor neglect it, for

I shall not pass this way again.

-Stephen Grellet

http://www.webweaver.nu/clipart/unicorns2.shtml

Tax Credit and Home Sales

Karla Sparks (Chinowth & Cohen Realty) — Mon, 19 Jan 2009 08:46:51 -0600

Tax Credit Changes Could Unleash Home Sales

If all home buyers become eligible for a tax credit without a repayment feature, it could result in an additional 555,000 home sales, enough to meaningfully draw down excess housing inventory, the NATIONAL ASSOCIATION OF REALTORS® says.

An evaluation of options for a home buyer tax credit by NAR shows wide ranging implications and benefits. A full credit to all buyers means an additional 2.22 million households would meet the income requirements for purchasing a home, but only one in four of those households would actually make a purchase.

Under the current $7,500 first-time home buyer tax credit, which must be repaid over 15 years, 264,000 households meet the purchase requirements. Using the same assumptions, with plans to hold their home for a median 10 years, it would mean only 66,000 additional sales.

Lawrence Yun, NAR chief economist, said NAR is advocating a tax credit for any home purchase meeting qualifying underwriting standards. "A home buyer incentive is critical to help reduce housing inventory and stabilize home prices," he said. "The bigger the incentive, the faster housing can help pull the economy out of recession. The cost to the Treasury would be far less than the additional costs of a prolonged recession with insufficient housing stimulus."

Analysis of other options shows that if only first-time buyers are eligible and the repayment feature is dropped, it could mean an additional 202,000 home sales. If extended to all home buyers but the repayment feature is retained, the gain would be 181,000 home sales.

NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth, said a flexible approach to the tax credit would have added benefits. "A home buyer tax credit also should be allowed to be used as a part of downpayment. This would instantly add an equity cushion for homeowners - a vested financial interest provides the foundation for sustainable homeownership, which helps improve economic stability," he said.

NAR estimates only 25 percent of newly eligible households would become homeowners, and does not capture the effect of increased trade-up buying activity. As such, these projections may understate the full impact of a home buyer tax credit.

Source: NAR

http://avanimation.avsupport.com/00.htm#08

Daily Poem: A Golden Day

Karla Sparks (Chinowth & Cohen Realty) — Mon, 19 Jan 2009 08:31:29 -0600

A Golden Day

I Found you and I lost you,
All on a gleaming day.
The day was filled with sunshine,
And the land was full of May.

A golden bird was singing
Its melody divine,
I found you and I loved you,
And all the world was mine.

I found you and I lost you,
All on a golden day,
But when I dream of you, dear,
It is always brimming May.

Paul Laurence Dunbar

Interest Rates

Karla Sparks (Chinowth & Cohen Realty) — Sun, 18 Jan 2009 10:29:35 -0600

Daily Real Estate News | January 16, 2009 | Share 30-Year Rates Fall Below 5 Percent
Mortgage rates dropped to their 11^th straight weekly decline, reaching new record lows, according to Freddie Mac.

Interest rates on 30-year, fixed rate mortgages averaged 4.96 percent this week, down from a previous week's 5.01 percent.

The low rates have caused a spike in home refinancing loans and a welcome relief to cash-strapped home owners facing a slowing economy and rising unemployment rates.

"The fact that interest rates have dropped to a record low is an important development since more affordable home financing could help bring buyers back to the market and prevent some of these foreclosures," says Lawrence White, professor of economics at New York University's Stern School of Business.

Other rates were mixed for the week:

15 year fixed rates: averaged 4.65 percent, up from 4.62 percent.
1-year adjustable rate mortgages: fell slightly averaging 4.89 percent from 4.95 percent last week.
5/1 ARMs: averaged 5.25 percent compared with 5.49 percent last week.

Mortgage rates have continued to drop ever since the Federal Reserve announced a plan in December to buy up $500 billion of mortgage securities backed by Fannie Mae, Freddie Mac, and Ginnie Mae-the government-sponsored enterprises.

Freddie Mac started recording mortgages in 1971.

Source: Reuters, Julie Haviv (1/15/09)

"Copyright National Association of REALTORS®, Reprinted from REALTOR.org with permission."

Daily Poem: Forgiveness

Karla Sparks (Chinowth & Cohen Realty) — Sun, 18 Jan 2009 10:01:54 -0600

Forgiveness

My heart was heavy, for its trust had been
Abused, its kindness answered with foul wrong;
So, turning gloomily from my fellow-men,
One summer Sabbath day I strolled among
The green mounds of the village burial-place;
Where, pondering how all human love and hate
Find one sad level; and how, soon or late,
Wronged and wrongdoer, each with meekened face,
And cold hands folded over a still heart,
Pass the green threshold of our common grave,
Whither all footsteps tend, whence none depart,
Awed for myself, and pitying my race,
Our common sorrow, like a mighty wave,
Swept all my pride away, and trembling I forgave!

John Greenleaf Whittier

Daily Poem: Understanding

Karla Sparks (Chinowth & Cohen Realty) — Fri, 16 Jan 2009 09:42:03 -0600

Understanding

I understood the rest too well,
And all their thoughts have come to be
Clear as grey sea-weed in the swell
Of a sunny shallow sea.

But you I never understood,
Your spirit's secret hides like gold
Sunk in a Spanish galleon
Ages ago in waters cold.

Sara Teasdale

What Is A Short Sale?

Karla Sparks (Chinowth & Cohen Realty) — Thu, 15 Jan 2009 11:03:59 -0600

From: http://en.wikipedia.org/wiki/Short_sale_(real_estate)

In real estate, a short sale is a sale of real estate in which the proceeds from the sale fall short of the balance owed on a loan secured by the property sold. In a short sale, the bank or mortgage lender agrees to discount a loan balance due to an economic or financial hardship on the part of the mortgagor. This negotiation is all done through communication with a bank's Loss mitigation department. The home owner/debtor sells the mortgaged property for less than the outstanding balance of the loan, and turns over the proceeds of the sale to the lender, sometimes (but not always) in full satisfaction of the debt. In such instances, the lender would have the right to approve or disapprove of a proposed sale. Most Short Sales leave a deficiency balance for which the Mortgagor / Borrower is still liable. In 99% of all cases it is not a settlement-in-full. A deficiency balance will remain while the mortgage broker, real estate agent / broker, loan officers, title and closing agents retain their profit. No regulatory agency governs this hybrid transaction.

Extenuating circumstances influence whether or not banks will discount a loan balance. These circumstances are usually related to the current real estate market and the borrower's financial situation.

A short sale typically is executed to prevent a home foreclosure. Often a bank will allow a short sale if they believe that it will result in a smaller financial loss than foreclosing. For the home owner, advantages include avoidance of a foreclosure on their credit history and partial control of the monetary deficiency. A short sale is typically faster and less expensive than a foreclosure. In short, a short sale is nothing more than negotiating with lien holders a payoff for less than what they are owed, or rather a sale of a debt, generally on a piece of real estate, short of the full debt amount. It does not extinguish the remaining balance unless settlement is clearly indicated on the acceptance of offer.

Short sales are common in standard business transactions in recognition that creditors are not doing debtors a favor but, rather, engaging in a business transaction when extending credit. When it makes no business sense or is economically not feasible to retain an asset, businesses default on their loans (called bonds). It is not uncommon for business bonds to trade on the after-market for a small fraction of their face value in realization of the likelihood of these future defaults.

[Lenders have a department (typically called "loss mitigation") that processes potential short sale transactions. Typically, lenders do not accept short sale offers or requests for short sales until a Notice of Default has been issued or recorded with the locality where the property is located. However, given the unprecedented and overwhelming number of losses that mortgage lenders have suffered from the current foreclosure crisis, they are now more willing to accept short sales than ever before. This is great news for borrowers who are "under-water" or in other words those who owe more on their mortgage than their property is worth and are having trouble selling to avoid foreclosure because of this. They are type of distressed borrower who needs a short sale the most.

Lenders have a varying tolerance for short sales and mitigated losses. The majority of lenders have a pre-determined criteria for such transactions. Other distressed lenders may allow any reasonable offer subject to a loss mitigator's approval. Multiple levels of approvals and conditions are very common with short sales. Junior liens - such as second mortgages, HELOC lenders, and HOA (special assessment liens) - may need to approve the short sale. Frequent objectors to short sales include tax lien holders (income, estate or corporate franchise tax - as opposed to real property taxes, which have priority even when unrecorded) and mechanic's lien holders. It is possible for junior lien holders to prevent the short sale. If the lender required mortgage insurance on the loan, the insurer will likely also be party to negotiations as they may be asked to pay out a claim to offset the lender's loss in the short sale. The wide array of parties, parameters and processes involved in a short sale makes it a relatively complex and highly specialized type of real estate transaction which is why unfortunately short sale deals have a high failure rate and often do not close on time to save homeowners from foreclosure when they are not handled by a knowledgeable and experienced professional. The best sources of knowledge and expertise in short sales are real estate lawyers who specialize in short sales, short sale negotiators and loss mitigation specialists.

Credit reporting

A short sale does adversely affect a person's credit report, though the negative impact is typically less than a foreclosure. Short sales are a type of settlement. Like all entries except for bankruptcy, short sales remain on a credit report for seven years. Depending upon other credit information it is typically possible to obtain another mortgage 1-3 years after a short sale.^[While it is frequent if not common for a lender to forgive the balance of the loan in question, it is unlikely that a lien holder that is not a mortgagee will forgive any of their balance. Further, it is common for a lender to omit updating mortgage balances to reflect a zero balance after a short sale. However, willfully misrepresenting information on a credit report can constitute libel in some jurisdictions, and lenders may be sued in civil court for engaging in this behavior.

Daily Poem: If We Knew

Karla Sparks (Chinowth & Cohen Realty) — Thu, 15 Jan 2009 10:51:41 -0600

If We Knew

If we knew the cares and crosses

Crowding round our neighbor's way;

If we knew the little losses,

Sorely grievous day by day,

Would we then so often chide him

For the lack of thrift and gain-

Casting o'er his life a shadow,

Leaving on his heart a stain.

If we knew the silent story

Quivering through the heart of pain,

Would our womanhood dare doom them

Back to haunts of guilt again?

Life hath many a tangled crossing.

Joy hath many a break of woe,

And the cheeks tear washed seem whitest,

This the blessed angels know.

Let us reach into our bosoms

For the key to other lives,

And with love to erring nature,

Cherish good that still survives;

So that when our disrobed spirits

Soar to realms of light again,

We may say, dear Father, judge us

As we judged our fellowmen.

-Unknown

http://www.feebleminds-gifs.com/graphics-sitemap.html#tree-pictures

Unique Pictures

Karla Sparks (Chinowth & Cohen Realty) — Wed, 14 Jan 2009 12:46:11 -0600

If you enjoy looking at unique pictures, check out this bloggers site: http://www.blogger.com/profile/12659111532984694647

It's not in English, but the pictures are amazing. I included a few so you could get an idea of their uniqueness.

Daily Poem: Road Not Taken

Karla Sparks (Chinowth & Cohen Realty) — Wed, 14 Jan 2009 12:21:16 -0600

The Road Not Taken

Two roads diverged in a yellow wood,
And sorry I could not travel both
And be one traveler, long I stood
And looked down one as far as I could
To where it bent in the undergrowth;

Then took the other, as just as fair,
And having perhaps the better claim,
Because it was grassy and wanted wear;
Though as for that the passing there
Had worn them really about the same,

And both that morning equally lay
In leaves no step had trodden black.
Oh, I kept the first for another day!
Yet knowing how way leads on to way,
I doubted if I should ever come back.

I shall be telling this with a sigh
Somewhere ages and ages hence:
Two roads diverged in a wood, and I-
I took the one less traveled by,
And that has made all the difference.

--Robert Frost

http://www.feebleminds-gifs.com/tree-pictures-3.html

Chef Julian

Karla Sparks (Chinowth & Cohen Realty) — Tue, 13 Jan 2009 16:22:14 -0600

This 5 year old chef has his very own T.V. show. Pretty cute video with Chef Julian and a nice article to read.

http://www.oregonlive.com/portland/index.ssf/2008/12/post_2.html

Daily Poem: All Is Well

Karla Sparks (Chinowth & Cohen Realty) — Tue, 13 Jan 2009 15:54:51 -0600

All Is Well

Whate'er you dream, with doubt possessed,
Keep, keep it snug within your breast,
And lay you down and take your rest;
And when you wake, to work again,
The wind it blows, the vessel goes,
And where and whither, no one knows.

'Twill all be well: no need of care;
Though how it will, and when, and where,
We cannot see, and can't declare.
In spite of dreams, in spite of thought,
'Tis not in vain, and not for nought,
The wind it blows, the ship it goes,
Though where and whither, no one knows

Arthur Hugh Clough

http://www.feebleminds-gifs.com/cloud-pictures.html