Sharon's Blog for Berks County Real Estate

TRADE UP! 5 Reasons why this is the BEST market to upgrade!

Sharon Sapp (Century 21 Call First) — Tue, 15 Dec 2009 09:01:38 -0600

Think you can't afford to move up? Maybe, but can you really afford not to? Read this and then decide for yourself.

Via Daniel Dima Batsalkin (Boulevard Realty):

Have you thought about getting that bigger, better house in a better neighborhood?

NOW IS THE TIME!

Whether you need more space, want to upgrade your location, or for any other reason, the current real estate market presents a unique opportunity to capitalize by trading up!

5 reasons why this is the best market to trade up!

1. You will make money NOW on the trade!

Here's how this works. You currently own a condo that was worth $1,000,000 three years ago, and now it's worth $700,000 (that's right, it's gone down 30%!). You may be thinking, I've lost $300,000, right? Wrong!

What you do is go out and sell your condo and purchase the home of your dreams for $1,400,000. That house, three years ago, was worth $2,000,000 and you probably couldn't have afforded it. By buying it now, what you've just done is bought your new home at a $600,000 discount! Just like that, on the trade, you've made $300,000! This doesn't even take into account the money you'll save on property taxes because you're paying taxes on a $1.4M house, and not on a $2M house.

2. ... AND you will make money LATER when you sell your new home!

OK you've listened to my advice, bought that new home of your dreams and traded up. YES! Fast forward five years and the real estate market has gone up 20%. Let's take a look at what has happened. Your old condo is now worth $840,000, for a $140K gain over today's value. Your new home is worth $1,680,000, or $280,000 more than when you bought it today. Just like that, you've made an extra $140,000 on the trade!

3. You can likely buy a house you otherwise could not have afforded, and may not be able to afford again!

Going back to my example above, you probably couldn't have afforded that $2M house three years ago when you bought your condo. You also may not be able to afford it again in 3 - 5 years when the market rebounds. If you've been dreaming about a bigger home or one in a nicer area, now is really the time to capitalize.

4. It's much easier to trade up in a down market than in an escalating market!

I've had clients say that they will trade up when the market "goes back up." Let's take a close look at that. Let's say that 5 years from now, the market is back up 20% from today's values. You then sell your condo for $840,000 and your dream home is now worth $1,680,000. You've gained $140K on your condo (from today's values) BUT your dream home is now worth $280,000 more! That means that, by waiting, you've now spent an extra $140K to buy that house!

5. You'll probably get a better house by trading up in a down market!

The current market presents some very unique opportunities. In most areas, inventory is pretty high and buyers have a lot of great choices. By shopping in this market, you can really get the home of your dreams and take your pick of all the inventory available. In most cases, you can get a good deal on a great property in a terrific area.

The bottom line is that if you can afford it, now is a terrific time to upgrade! Interest rates remain at historic lows and there is plenty of financing available.

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Specializing in Los Angeles area residential real estate, including Los Angeles, Beverly Hills, Brentwood, Bel Air, Santa Monica, Sherman Oaks, Valley Village, Studio City, Encino, Tarzana and more!

Hire me or send me a referral because I have a defined and proven plan of action that I follow every day to help my clients achieve their real estate goals!

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DANIEL DIMA BATSALKIN

Principal Broker | C.E.O. | Boulevard Realty

310.933.4281 | dima@blvdrealty.com

www.blvdrealty.com

Sharon Sapp, e-Pro Realtor® and CGRN® Specialist

For Old Fashioned Service with Today's Results!

Century 21 Call First

www.YourRealtor4Pa.com

Mailto:Sharon.Sapp@Century21.com

Office: 610-898-6255 Cell: 484-955-1075; Fax: 610-921-5729

I will treat the referrals you give me just like they were family!

What is a Buyer's Market Anyway?

Sharon Sapp (Century 21 Call First) — Mon, 23 Nov 2009 10:32:09 -0600

There are lots of deals in Real Estate these days, but the deals are a result of the initial lower list price - not a lowball offer from a buyer. The market is slowly changing so now is the best time for a buyer to truely get a good deal!

Via J. Philip Real Estate LLC Briarcliff Manor, NY:

Now is a great time to buy real estate. I was quoted 3.75% on a 7/1 ARM today (great if you are putting a lot down and plan to move in 5 years or less), and 30 year fixed are getting deliciously close to 5%. The high inventory and low prices are all in the buyer's favor. I see homes off 25-30% from their peak in some very nice areas, and even more in some parts. Sellers want to make a deal too, and I am seeing them do things they never would have done even 2 years ago: include furniture, help with closing costs, eating the difference in low appraisals, and even agree to significant repairs. All this points to a strong buyer's market.

Yet some buyers are frustrated. Why? Because all this talk in the media has them thinking that if they offer $400,000 on a gorgeous $500,000 home in a prime location that the seller will fall down and kiss their feet! Worse, when someone outbids them for that gorgeous, well appointed home in a prime location they are perplexed! Prices are down 50% in Shamokin! I should be able to get something in White Plains or Scarsdale for 25% off! Isn't a buyer's market a license to steal?

Of course it isn't. A buyer's market isn't a flea market. That $500,000 house was selling for $650,000 4 years ago. That's your discount. If I am your buyer agent, you might get it for $460,000 or $475,000. And the seller may throw in the deck furniture, the snow blower and the breakfront you liked. But a market, by its very definition, is not where theft occurs. It is only a good deal if the seller goes for it. And until we are able to hypnotize the seller, their agent, their lawyer and Uncle Vinny, you aren't gonna raid the neighborhood like an invading Visigoth.

Moreover, in those perplexing cases where you are outbid, you have to understand that if you adore a fantastic place that is aggressively priced, then someone else will probably love it too! Hot properties still have a larger audience. So happy househunting for you brave, smart people out there actually looking in earnest, and do remember that a buyer's market is distinct from a hold up.

J. Philip Faranda, Broker-owner, J. Philip Real Estate, LLC. 2010 Vice President, Westchester Putnam MLS. Search the MLS like an agent here. Read my short sale bog here. J. Philip Serves Briarcliff Manor, Ossining, Croton, the River Towns, Westchester County, and the bedroom counties of New York City.

Reach Phil at (914) 723-8900.

Subscribe to 40 Somethings Group.

Sharon Sapp, e-Pro Realtor® and CGRN® Specialist

For Old Fashioned Service with Today's Results!

Century 21 Call First

www.YourRealtor4Pa.com

Mailto:Sharon.Sapp@Century21.com

Office: 610-898-6255 Cell: 484-955-1075; Fax: 610-921-5729

I will treat the referrals you give me just like they were family!

The Lost Art of Courtesy and Kindness

Sharon Sapp (Century 21 Call First) — Fri, 20 Nov 2009 11:33:12 -0600

When someone does something nice for me, it just really makes my day. How do you feel when someone unexpectedly does something nice for you? I try to help where I can and sometimes, those I've helped try to pay me or ask me what I want in return. My standard answer is to "Pass it forward". I believe that if we all can do something nice for someone and ask them to "Pass it forward", many, many people will then have a nice day!.

Via Roger Hunt (Private Mortgage Advisors/an affiliate Wells Fargo Bank N.A.):

I don't know if it is a generational thing or not, but it seems to me that people are getting more rude and displaying a lack of courtesy and a lack of kindness more and more each day. When I was raised (born in 1954), I was taught to address my elders by surnames (e.g. Mr. Smith and Mrs. Smith), to open doors for women and elderly (and people with strollers or hands full of shopping). I was taught to show up to an interview (whether it was for a job as dishwasher or executive), dressed in suit and tie, with my shoes polished. Maybe it is my imagination (I want to believe that), but it seems like people just don't care about anyone but themselves.

I was driving on the freeway the other day and no one would let me change lanes to get around a slow truck, even though I waited with blinker on for some time. I remember another time I was waiting for a parking place and someone rushed right in and took it from me with no apology or remorse (like that scene from Fried Green Tomatoes with Kathy Bates). Sometimes the salesperson will be rude (like I am interupting them for help) with no "thank-you for shopping with us", or apology that they didnt have what you needed. Has America lost the human touch of kindness and courtesy?

I personally believe, that most people are kind and courteous. I believe there are a few that show up so loud and rude it takes our breath away......we remember these and forget about the others.

We forget about the person who let you go first at a stop sign, or the person that let you on to the freeway. Every so often, there is a person that just blows a hole in the view that its all going out the window.

I remember another day when I was crossing a bridge and when I went to pay the toll the toll person said the guy ahead of me paid for it....I couldnt believe it....they were total strangers, I couldnt thank them......so I "played it forward".....and said, please do this for the car behind me, and here is money for the one after that!

Moral of the story for me? I think the world needs more kindness and courtesy.....so......let it start with me........what can I do today that will show kindness and courtesy for someone else? Maybe let the person in line for the grocery store go ahead of me (even if they have a whole grocery cart of items), maybe open the door for someone at the store, or hold the door for someone......drop some money in the hand of a person asking for help on the sidewalk, or call a local charity to see if there is something special they need today and pick it up and drop it by.........

Roger Hunt

Private Mortgage Advisors (an affiliate of Wells Fargo Bank, N.A.)

Burlingame,CA 94010

650.796.0326

www.rogerhunt.com

roger.m.hunt@wellsfargo.com

Sharon Sapp, e-Pro Realtor® and CGRN® Specialist

For Old Fashioned Service with Today's Results!

Century 21 Call First

www.YourRealtor4Pa.com

Mailto:Sharon.Sapp@Century21.com

Office: 610-898-6255 Cell: 484-955-1075; Fax: 610-921-5729

I will treat the referrals you give me just like they were family!

Preparing Your Home For Sale

Sharon Sapp (Century 21 Call First) — Tue, 03 Nov 2009 09:17:26 -0600

Although these hints for selling your home have been stated before, it's always good to be reminded. Here's a list of 10 things you can do to ready your home to put it on the market - either with a Realtor or on your own.

If you would like me to help you with this, just contact me for a free consultation.

Via Debbie Rumsey (Century 21 Sea Coast, Encinitas, CA):

Are you getting ready to put your home on the market and want to know what you can do to help your Realtor sell your home? Below are some ideas that will get your house looking neat and ready for potential buyers to walk through.

1. Reduce the amount of furniture you have in a room. You want the home to have a large floor area and all doorways and halls to be open and clear.

2. Get rid of clutter. The photos that you cherish and are hung throughout your home are a distraction to future buyers. They want to imagine themselves in the house and not what kind of family currently lives there. Remove knick knacks from counters and shelves and throw away or hide magazines. Begin packing and store boxes in a storage unit or in your attic or donate to a good cause.

3. Repaint those colorful walls. Create a neutral canvas for buyers, paint walls an off white or light beige color. You may have loved that bright orange in your kitchen and adorable pink in your little girls room, however, it's time to paint and create a generic look for future buyers. Paint is cheap and will make a huge difference when your home is on the market. It will look fresh and clean with a good coat of paint.

4. Organize closets. Buyers want to look in every door and sometimes the cabinets as well. Take a day or two to throw away, donate or pack items that you aren't using. Closets can get very cluttered and you want to show off your storage space as it is a great asset to your home.

5. Put valuables in a safe deposit box or in a hidden safe. Remember that strangers will be coming into your home to view. Don't put your grandma's wedding ring or your rare baseball cards in drawers or counters where people can take them.

6. Make your home sparkle. Keep your home as tidy as possible by vacuuming, dusting, keeping dishes out of the sink, hang fresh towels in the bathroom, get your windows washed, dust fan blades, replace worn out rugs, remove cobwebs.

7. Do the sniff test. If you made fish the night before you may want to open some windows and boil a pot of water with some cinnamon sticks, light a candle or bake some cookies.

8. Do some minor repairs. Fix leaky faucets, replace old grout, put some W2 on squeeky hinges, replace any burnt out bulbs, repair holes in drywall, remove wallpaper, etc. Walk into each room and really look around to see what you can do to repair anything that is visible.

9. Check your curb appeal. The first impression your buyers will have begins before they ever enter your front door. Lure them in with fresh planted flowers, neatly trimmed bushes, green and well manicured lawns, clean sidewalks and patios and clean exterior paint. Make sure your address is easy to read from a car.

10. Recruit your Realtor or best friend to do a walk through and give any advice after you have completed the previous 9 items. Everyone sees things differently and they may have some great advice on something that was overlooked.

Doing these 10 things will be the best things you can do to get your home sold quickly after you have decided on a competitive listing price.

Sharon Sapp, e-Pro Realtor® and CGRN® Specialist

For Old Fashioned Service with Today's Results!

Century 21 Call First

www.YourRealtor4Pa.com

Mailto:Sharon.Sapp@Century21.com

Office: 610-898-6255 Cell: 484-955-1075; Fax: 610-921-5729

I will treat the referrals you give me just like they were family!

Sins of the Seller or Sins of the REALTOR?? Maybe Both!!

Sharon Sapp (Century 21 Call First) — Mon, 26 Oct 2009 15:20:48 -0500

Selling a home is really a team effort. There are things a Realtor should do, but there are also things a seller should do. Without both the seller(s) and the Realtor working together, a home only gets sold by "accident". Call me when you're thinking of selling and let's talk Real Estate!

Via Kathy Jackson REALTOR Henderson Kentucky Homes for Sale (RE/MAX Superior, REALTORS):

A while back, I read a great blog by Clint Miller called The Sins of the Seller. It was a great post that really highlighted how a home is viewed from the buyer's perspective. However, I keep thinking about that blog. Was it really the seller's fault their home showed so poorly? Or could it have been the agents fault? Or was it both? So, I put together my own list of Sins: Sins of the REALTOR!

1. Not preparing a detailed CMA-also call GUESS-TIMATING MARKET VALUE! Part of our job is education of our potential clients. I believe this includes completing a detailed CMA that shows the seller what similar homes are selling for in their area. If similar homes are comping between $100,000 and $110,000, then it is a waste of the seller's time to list the home for $125,000.

2. Not advising seller's how to prepare their home for showing. As agents, we go into all kinds of homes and we see first hand what buyer's are looking for in a home. Having a clean, uncluttered home shows much better than a dirty, smelly, congested home. We need to tactfully let potential clients know what can affect the sale of their home. As an agent, if you don't have an eye for staging, suggest that your client hire a stager to make their home show ready.

3. Not advising clients to remove pets during showings. This is not only a good idea for the best showing, but for the safety of both the pet and potential buyers. How would you feel if Fluffy the cat escaped through the door during showing? Or if cute little Sparky bit a potential buyer? Not only could your client be looking at potentially expensive hospital bills, but also the loss of their beloved pet. I've also had several clients who are extremely allergic to pets and started swelling up the second we entered the home. Little Zena-Weiner on left is so cute, but not for everyone!

4. Not suggesting the client have a home inspection before listing the home. Yes, this costs money, but the long term benefits are worth it. With a pre-listing home inspection, the seller will know of any potential problem areas and can address them before it scares off a buyer.

5. Following the 3 P's. The 3 P's are Place an ad in the paper, Put a sign in the yard and Pray. Marketing a home has changed so much in the last few years, let alone the last decade. Agents must keep up-to-date on the latest means of reaching potential buyers. This has to include Social Networking sites, blogging, websites, email, texting, etc. The days of the 3 P's being the only way to market a property are gone.

6. Don't bother communicating with your sellers! Seriously, I have heard many tales from my clients how they listed their home with Suzy Realtor and once the sign was in their yard-never heard from her until the listing was going to expire!! Then Suzy showed up at their home with an extension in hand with a laundry list of ideas on how to get their home sold. I always make it a piont to keep in touch with my clients at least twice a month, sometimes much, much more!

7. Ignore the "traditional" methods of advertising. Yes, I know what I said in #5 above, but there are some markets where some of the traditional methods still work better than Web 2.0. There is one community here in my neck of the woods that I have to run an ad in the local paper and include my listings in the Catalog Book. All of the internet contact I have received for one of those properties has been from a potential buyer that is out of state! So, make sure you don't discount something that does work and add to it with other methods too.

8. Don't bother updating the CMA. In my area, it's not uncommon for a property to be on the market for 100+ days. It's important to update the CMA to make sure that the pricing is still on target for the home.

9. Video-hah! Clear pictures? Seriously one of my big pet peeves is when I see a listing with no Virtual Tour, one or two photos and they are blurry to boot. I really just want to find the nearest wall and beat my head against it!! Take the time to look at your pics & video on the mls or website. Sometimes, what looks good on the camera does not translate well to the internet!

10. Hello, you've reached Suzy Realtor and I'm just too darn busy to answer or return your call! I know we can't answer our phones every time it rings, but I have know several agents that never answer their call. As I'm dialing their number I am rehearsing the message I'm about to leave. I also know that I will probably be calling them back later in the day because they are too busy to call me. See above for instructions on beating your head on the wall!

Well folks, there's my ten Sins of the REALTOR. I hope you enjoyed it. I plan to be "sin-free" long into my career! If you are looking for a sinless REALTOR, please feel free to call me-I will answer my phone!

Sharon Sapp, e-Pro Realtor® and CGRN® Specialist

For Old Fashioned Service with Today's Results!

Century 21 Call First

www.YourRealtor4Pa.com

Mailto:Sharon.Sapp@Century21.com

Office: 610-898-6255 Cell: 484-955-1075; Fax: 610-921-5729

I will treat the referrals you give me just like they were family!

Mold and Efflorescence

Sharon Sapp (Century 21 Call First) — Mon, 26 Oct 2009 15:15:22 -0500

Mold can be anywhere there is dampness, but not everything you think is mold, really is. Ever notice white marks - usually in the basement if the basement is block or on non-white stucco or on stone? That may not be mold. Read the following written by an expert.

Via Lennar Corporation (Lennar Corporation):

A discoloration, generally white in color, may develop on your stucco, brick or stacked stone surfaces. This is known as efflorescence, and is basically just salt that is deposited on the surface through a natural chemical process. Although efflorescence changes the appearance of the surface, it is not structurally damaging or harmful to the masonry.

To remove efflorescence, mix warm water with a bit of vinegar, then scrub the area with a stiff brush. If this does not work, you can purchase special cleaning products from your local hardware store. Make sure to check the manufacturer's product information to ensure that you do not use any harmful substances on these surfaces, as damage will not be covered by warranty.

Staining may also occur on exterior surfaces as a result of dirt that is splashed up when water hits the ground. If you notice this type of staining, we suggest hiring a professional company to clean it. Installing gutters can help prevent a future occurrence, as gutters direct rainwater to specific locations.

Besides efflorescence and staining, mold can also form on your exterior surfaces. Minor occurrences of mold should be cleaned using products designed specifically for cleaning mold. After you've cleaned your exterior surfaces, you may notice a slight variation in color. Before you use any product on your home, you should always test it in an inconspicuous spot to ensure that there will not be any significant change to the finish. Also, before beginning any touch-up project, make sure that you are prepared to refinish the entire area for uniformity if it becomes necessary.

For more information, watch the video below.

Be sure to check out Lennar on these social media sites:

Lennar's Family of Blogs:
The Open Door by Lennar
Lennar Communities
Lennar Cares

Sharon Sapp, e-Pro Realtor® and CGRN® Specialist

For Old Fashioned Service with Today's Results!

Century 21 Call First

www.YourRealtor4Pa.com

Mailto:Sharon.Sapp@Century21.com

Office: 610-898-6255 Cell: 484-955-1075; Fax: 610-921-5729

I will treat the referrals you give me just like they were family!

Services Realtors provide to buyers not known or not appreciated?

Sharon Sapp (Century 21 Call First) — Tue, 20 Oct 2009 11:10:05 -0500

I usually don't blog on my emotional issues, but I just had to in this case. I have a friend that I had helped emotionally and financially when her husband left her after many years of marriage. She had never lived on her own before so I helped her to become independent - at least somewhat, by providing physical, financial and emotional support. As her friend and Realtor, I helped her find a home that had been completely rehabbed at a good price at the height of the booming market. We just recently settled on the sale of that home, in a down market, and she made almost $20,000, paid off her mortgage and still has cash to purchase a new home. The deal was also full of problems from the original offer through to settlement. Being a professional, I didn't tell her about any of the problems unless it required a decision from her. I feel that's part of my job - to make it as easy as possible for my clients. As her friend and Realtor, I partnered her with a lender, took her to see homes that she was interested in (for 8 months), and acted as both a friend and Realtor to try and find her the perfect (?), affordable home for her .Then she finds a home she likes that was to be auctioned. I suggested we make an appt to go through the home, but she already did that with someone else prior to her telling me about this home. I do comps for her and tell her the maximum amount to offer and offered to handle the paperwork and settlement for a fee of 1% (normal in this area is 2%) or $1,000. She got very upset with me but after some discussion, I thought we were back to normal. Then she found a FSBO on the day before the auction that she put in an offer on her own and it was accepted. She didn't tell me about it until after it was done. Obviously, I was hurt. I've read many blogs about clients that "use" a Realtor and then go with someone else and that stings, but this is also my friend. The lesson I've learned here is that maybe, as Realtors, we handle so many problems behind the scenes that clients and customers don't value our services because they really don't know about all we do. I've decided to put together a list of services for buyers to help with that understanding. What services do you feel are most important in the purchase of a home?

Sharon Sapp, e-Pro Realtor® and CGRN® Specialist

For Old Fashioned Service with Today's Results!

Century 21 Call First

www.YourRealtor4Pa.com

Mailto:Sharon.Sapp@Century21.com

Office: 610-898-6255 Cell: 484-955-1075; Fax: 610-921-5729

I will treat the referrals you give me just like they were family!

Services Realtors provide to buyers not known or not appreciated?

Sharon Sapp (Century 21 Call First) — Tue, 20 Oct 2009 11:09:00 -0500

Sharon Sapp, e-Pro Realtor® and CGRN® Specialist

For Old Fashioned Service with Today's Results!

Century 21 Call First

www.YourRealtor4Pa.com

Mailto:Sharon.Sapp@Century21.com

Office: 610-898-6255 Cell: 484-955-1075; Fax: 610-921-5729

I will treat the referrals you give me just like they were family!

Every Seller Needs To Know, What Sells a house?

Sharon Sapp (Century 21 Call First) — Sun, 04 Oct 2009 20:45:36 -0500

There are no secrets to get your house sold. All you have to do is follow the recipe. There are only 4 main ingredients.

Contact me to see if you have them!

Via Carra Riley CRB, CRS, GRI (Carra Riley Inc.- Real Estate Consultant, Author, Speaker ):

Every Seller Needs To Know, What Sells a house?

There are four varibles that sell a house.

1. Price

2. Terms

3. Condition

4. Location

All four of the variables go together to create the "perfect sale." Each aspect must be taken into consideration if you want a property to sell.

1. Price fixes everything! Don't let anyone tell you different. When the buyer perceives there is a value because of the price, they will buy the home.

The other three varibles always can effect the price.

There are circumstances where a buyer has lost the ability to qualify for a traditional loan because of a foreclosure or bankruptcy and the buyer needs owner financing. With Owner carry Terms that particular buyer may be willing to pay more because they have ownership with possibly a small down payment.

Conversely, if the Condition is bad the price will have to be reduced to reflect a value in the home where a buyer will have to come in and do repairs or cosmetic updates.

Location is the toughest variable in the sale to compensate for. Most people have heard about in Real Estate the terms Location, Location, Location. If the location is bad.. ONLY price will sell the property possibly combined with terms so exciting that a buyer will not be able to pass up the deal.

2. Terms. If the Terms are attractive, sometimes a seller can get more money for the home. For example: a home with a value of $325,000 listed with owner carry terms of $25,000 down and no bank qualifing might be able to sell at $350,000 because of the terms.

Under any owner carry situation, it is important the seller speak with their accountant and attorney before accepting any contract and agreement to finance. The seller should be completely aware of the liability and consequences in owner financing. This is just an example how price can increase with the right terms.

3. Condition is a key factor in selling a home. When the property is in top condition, looking like a show home the seller may get top market value for the property. In times where homes are selling at a slow pace, in order to procur a sale, the home should be the BEST property at the Lowest price to get to the closing table.

Taking a seller on a preview tour of the homes in the area similar to their property can save months of discouragement with a home not selling. When a seller can see the competition and accepts the fact their home needs to be the Best house at the lowest price to sell, the home will sell and the seller will see what they are up against in comparison.

Carpet or paint allowance does NOT work in selling a home. If the home needs carpet, put it in. If the home needs painting, get it painted. Many times this can cost a seller $5,000 to $8,000 to do those upgrades. Investing, yes, investing is the correct term, for getting the house sold. The money invested will come back in the form or a quick sale at full market value.

A picture is worth a thousand words so think about how the property looks and even take some pictures to see what a buyer is looking at. Sellers should look at the pictures like they were a buyer and ask, "would I buy this house in this condition for this price?" Are the kitchen counters cluttered? Are the closets a mess? What does the front door look like and the yard when people drive up to the house?

A seller has 8 seconds for a buyer looking at a home to decide if they really like the house and if it will go on the A list. The buyer starts the decision making process when driving up to the home while looking at the surrounding properties and the entrance to the home.

There are many agents are trained in "staging" a home and there are "staging services" which help a seller to understand what needs to be done to create a "marketable product." Listen to these people if you want to get the house sold.

The seller needs to separate from the house and see it as an investment or product that needs to be sold. The seller needs to take all the emotions out of the happy memories in the home if they are serious about selling.

4. Location is the only variable which cannot be changed. A bad location, is a bad location so only price and terms are going to help this situation.

It does not matter that the same model home across the street sold for thousands more, because it was ACROSS THE STREET and did not back to the highway. A seller needs to get a reality check on location and think about when they purchased. If the seller got a good deal when they bought because it had a bad location then they have to give the new buyer the same good deal to sell.

Sellers should take all the emotion out of the business of selling a home and treat the transaction as an investment decision.

If the goal is to get the home sold then listen to the professionals and let them do their job.

As Donald Trump would say, "It's only business."

Cosmic Cow Pie

Carra Riley

Sharon Sapp, e-Pro Realtor® and CGRN® Specialist

For Old Fashioned Service with Today's Results!

Century 21 Call First

www.YourRealtor4Pa.com

Mailto:Sharon.Sapp@Century21.com

Office: 610-898-6255 Cell: 484-955-1075; Fax: 610-921-5729

I will treat the referrals you give me just like they were family!

Financial Benefits of Home Ownership

Sharon Sapp (Century 21 Call First) — Tue, 29 Sep 2009 12:24:36 -0500

If you are trying to decide if buying a home is worth it, read on!

Via Doug Reynolds (Prudential):

There are a number of personal and emotional reasons to buy a home. But there are also some strong financial reasons to make the investment. In addition to exceptional home affordability and near historic interest rates, here are some important financial benefits of owning a home:

Increased Net Worth: Few things have a greater impact on net worth than owning a home. In a comparison of renters versus homeowners, the Federal Reserve Board of Consumer Finance found that the average net worth of renters was just $4,000 compared to homeowners at $184,400.

A Big Tax Deduction: One of the largest tax deductions available is the amount of interest paid on a mortgage. In fact, a $150,000 home at a 5.50% interest rate can add up to approximately $8,000 in first year's interest. This amounts to a significant savings - effectively reducing the amount of a homeowner's monthly loan payment.

Long-Term Appreciation: Over the last few years, home prices have corrected and become more affordable. While that's good news for potential buyers, it has overshadowed the long-term appreciation of a home's value. The reality is, despite market ups and downs, real estate historically appreciates around 6% per year. Even if you calculate a modest appreciation of 3%, a home purchased today for $150,000 should grow in value to $364,000 over 30 years.

$8,000 Tax Credit: Don't forget, the government is offering an $8,000 tax credit for first-time homebuyers - or for folks that haven't owned a home during the past three years. However, the program is scheduled to end soon. In fact, the Internal Revenue Service recently reminded potential buyers that they must complete their first-time home purchases before December 1, 2009 to qualify for the special credit, which means the last day to close on a home and qualify for the credit is November 30, 2009.

Sharon Sapp, e-Pro Realtor® and CGRN® Specialist

For Old Fashioned Service with Today's Results!

Century 21 Call First

www.YourRealtor4Pa.com

Mailto:Sharon.Sapp@Century21.com

Office: 610-898-6255 Cell: 484-955-1075; Fax: 610-921-5729

I will treat the referrals you give me just like they were family!

Managing Emotional Response

Sharon Sapp (Century 21 Call First) — Mon, 14 Sep 2009 09:55:22 -0500

Did you know that moving is one of the top stressful situations in your life - next to losing a loved one or your job? Read how to help lessen the stress you are feeling.

Sharon

Via Julie Fuimano, Success Coach, Speaker & Author (Nurturing Your Success Inc.):

Feelings of stress occur as an internal reaction to external events. In other words, it's not what's happening around you that stresses you but rather your thoughts about what's happening around you.

When you learn to observe your thoughts, remain in control, and assess the emotion experienced, you empower yourself to choose a behavioral response that is most appropriate for you.

Feelings themselves can become overwhelming when you allow them to overtake you. It's as if they take charge and you are no longer in charge of yourself. And that's because the emotion does take charge; if you let it.

The conscious mind cannot think and feel at the same time. This has huge implications. When you experience an emotion - stress, anxiety, anger, fear, disappointment, frustration, sadness, even excitement or happiness - the part of the brain at work is called the limbic system. You are not able to think clearly because this part of the brain does not lend itself to problem solving or thinking; its focus is on survival. Without engaging other parts of your brain, you react in ways that do not show the better side of you. :)

When you experience an emotion, breathe. Remain in control. Use the emotion as a message. What is it trying to communicate to you? Be curious and ask yourself a question. You will engage the prefrontal cortex, which is the part of the brain involved in decision making and social behaviors.

Use 'wonder' to guide you. Wonder about the other person and what they might be thinking or why they would do/say that. Use your empathy to step into their world and ask a question to learn more from them. Wonder about yourself and your expectations. Is there something you need to accept or let go of? Is there a boundary issue here that needs to be extended?

Once you've asked the question, then you can think clearly to choose the most appropriate actions for the impact you want to create. You increase stress and feelings of overwhelm and powerlessness when you focus your efforts on trying to fix things where you have no control. While you may not be able to control the things going on around you, you can control YOU.

Your power lies in your ability to self-manage - to manage your thoughts, your emotions, and your actions. Focusing your attention on what you can control increases feelings of personal strength and confidence.

Your partner for success,

Coach Julie ~ Nurturing Your Success

Sharon Sapp, e-Pro Realtor® and CGRN® Specialist

For Old Fashioned Service with Today's Results!

Century 21 Call First

www.YourRealtor4Pa.com

Mailto:Sharon.Sapp@Century21.com

Office: 610-898-6255 Cell: 484-955-1075; Fax: 610-921-5729

I will treat the referrals you give me just like they were family!

I know Those Homes Sold For That Much...But They Were Foreclosures and My Home Isn't

Sharon Sapp (Century 21 Call First) — Fri, 11 Sep 2009 08:48:47 -0500

It's ugly - but it's the real truth about home prices. Read on! Contact me if you want to discuss this or have any questions about the value of your home!

Sharon Sapp

Via JL Boney, III Columbia, SC Real Estate (Russell and Jeffcoat):

So you've decided to sell your house and you are well aware of the fact that homes for sale in your community have involved foreclosed properties. All those homes that sold in the past 6 months were bank owned and they weren't sold by an individual, but instead, they were sold by those evil banks that got us into this mess in the first place. Not only did the Cretans foreclose on the homes and kick out homeowners, but now they step in and undercut the prices of other sellers and steal their buyers. But we don't have to price our house the way the bank does, because ours is not a foreclosure, so we really don't have to worry about because ours is worth more.

Well welcome to the harsh reality of what I like to refer to as the truth. It's not always a fun thing, but you have to face it if you want to be successful in today's market. All those foreclosed properties in your community do affect your home. They do lower the market value in a lot of cases, because the banks do lower their prices to aggressively market their properties. As a result, the market value of comparable properties like yours does change.

I know that's not at all what you wanted to hear. In fact I didn't really want to say it, but it needed to be said. You can't ignore the facts.

The facts are unfortunately something that we all have to face and foreclosures and bank owned properties are a fact of life today. They are your competition and you do have to price your house for sale in accordance with the current market value for your community.

Another horrible fact to face is that pricing is one of the most important things to focus on when selling a house. Having a house that's in great condition is also extremely important, but if you find yourself overpriced by ten or twenty thousand dollars, you don't stand a chance of moving anytime soon. So while you may be able to get a little more for your house due to it's better condition, you may want to lose the theory that your house isn'tt affected by foreclosures. Unfortunately, we all are, and we just have to accept it and move on.

www.JLBoney.com

Sharon Sapp, e-Pro Realtor® and CGRN® Specialist

For Old Fashioned Service with Today's Results!

Century 21 Call First

www.YourRealtor4Pa.com

Mailto:Sharon.Sapp@Century21.com

Office: 610-898-6255 Cell: 484-955-1075; Fax: 610-921-5729

I will treat the referrals you give me just like they were family!

6 Reasons why your house won't sell.

Sharon Sapp (Century 21 Call First) — Thu, 20 Aug 2009 09:13:46 -0500

Note: This is solid advice for all sellers.

Sharon

Via Alan May, Coldwell Banker Evanston Realtor, North Shore Realtor (Evanston Real Estate, Evanston, IL):

1. Your photos are unimpressive. The vast majority of home buyers start their search for a home on the Internet, your house had better look great in print. Not just nice... downright fabulous. Today we are considering internet views as a 'virtual showing'... if your house gets past that, then they might (just might) make an appointment to see it in person... We consider that your SECOND showing. Today's buyers are expecting good quality photos (and lots of them... just 1 shot from the street won't cut it!), a virtual tour, maybe even a floor plan, if applicable.

2. It's overpriced. You've got to view your own property as objectively as possible. Look at the home like a "buyer"... if necessary, go out with your Realtor and view other homes that are priced comparably to yours. Be objective. Given the other options on the market (and yes, you DO have to include short sales and foreclosures on your list... your potential buyers are!), would YOU buy your home, over the others on the market?

If no, then you either have to "update" your home to meet or beat the competition... or lower your price to adjust for it. if you can't afford to sell for the price, that you KNOW it sell for, you may want to consider just removing it from the market.

3. It shows poorly. This could mean almost anything... from the barky, barky dog, to the smell of the diaper pail. Maybe the carpeting is a bit worn, or the woodwork shows a lot of wear. All things that don't show up on the internet, but whoa.... once you get inside the house... they show up, like a cat-urine-smell on a 95 degree day in New Orleans!

4. You're invisible. Today's buyer comes from the internet, almost exclusively. Have you (or your agent) simply plopped the property on the MLS, and started praying? Are you on all the websites...(Trulia, Zillow, Craig's List, Google Base, etc...) all the places that buyers are searching? If not, you want to be.

5. Your listing is tired and stale on the market. Okay... yes, you overpriced your home initially when you first came on the market 2 years ago. But since then you have reduced your price almost monthly... constantly chasing the market down.... Now, finally you're truly priced where you should be... but your listing is tired and stale. Everyone looking for your type of property (ie: 3br/1.1 bath) in your area has already seen it, sometimes twice... and they remember that there was "something" about it that they didn't like... but what they don't remember is... what they didn't like.... was the price. Time to take the listing off market. Let it cool off (3-6 months), and bring it back on fresh in the Spring. Yeah, you'll have 6 mos. worth of holding-costs... but you'll more than make up for it in your purchase price.

btw... Avoid the temptation to bring the house back on at a higher price, than when you left the market. Just "don't do it"!

6. Your house won't appraise. The house looks great... you've finally gotten someone to bring you a bid on your slightly over-priced, but beautiful pied-a-terre. But the bank appraiser says it's worth $20,000 less than what they've agreed to pay. Heavy sigh... bite the bullet.... negotiate with them. If you have to drop the price $20,000 to make it work.... "make it work"... chances are, anybody else trying to buy your house will run into the same problem.

Sharon Sapp, e-Pro Realtor® and CGRN® Specialist

For Old Fashioned Service with Today's Results!

Century 21 Call First

www.YourRealtor4Pa.com

Mailto:Sharon.Sapp@Century21.com

Office: 610-898-6255 Cell: 484-955-1075; Fax: 610-921-5729

I will treat the referrals you give me just like they were family!

Amity Township Community Days

Sharon Sapp (Century 21 Call First) — Wed, 19 Aug 2009 12:56:34 -0500

Do you like community carnivals? Here's your chance to enjoy an annual one in a new, larger location - the Amity Township Community days! Sponsored by the Optimist Club, this community carnival features food, rides, business sponsored activities for kids, raffles and loads of fun This year it's being moved to the Daniel Boone Middle School Parking Lot on Weavertown Rd. The dates are September 11, 12 and 13 from 6:00 to 10:00 PM. With the new location, it's easy to park and close to the Midway where all the fun and games are. There are some special, featured events such as a pet show, pie eating contest, baby parade and fun run. For questions, contact the Optimist Club at www.DanielBooneOptimist.com or call Curt Clifford at 610-385-3854. Come out and support your community and have lots of fun doing it. I'm personally doing the Century 21 Call First's Real Estate Booth so you have a child that wants to win a prize playing Tic-Tac-Toe, send them my way. I'll see ya there!

Sharon Sapp, e-Pro Realtor® and CGRN® Specialist

For Old Fashioned Service with Today's Results!

Century 21 Call First

www.YourRealtor4Pa.com

Mailto:Sharon.Sapp@Century21.com

Office: 610-898-6255 Cell: 484-955-1075; Fax: 610-921-5729

I will treat the referrals you give me just like they were family!

Prepare to sell your home

Sharon Sapp (Century 21 Call First) — Tue, 04 Aug 2009 15:49:41 -0500

I'm often asked by my sellers what they should do prior to selling their home, so I thought I'd write a post to address the high points.

Address your home's curb appeal. The whole idea here is to make your home appealing to the average buyer. If you individualize it too much, the only buyer you will get is yourself. You need to make your home appeal to the most number of people. Your buyer is out there. Don't let your own taste in decorating turn them away!

A fresh coat of paint on the front door, the trim, window frames and a clean entryway invites buyers in.

Consider changing the hardware (door knob and hinges) for a new, fresh look.

Pull weeds, rake leaves, trim bushes and shrubbery - especially if it blocks your windows, paths or other visual entry into your home.

Choose neutral when selecting paint. It will appear larger, brighter and more appealing to potential buyers.

Take an objective look at your house. Are there little things that you are used to that a buyer will notice right away? Have a good friend or family member walk through your home with you. Do you have a faucet that drips a slow drop? Fix it! Do you have sticky cabinets smudged stainless steel sinks or appliances? Clean them up. Do you have small holes in your screens? Get them fixed. It may seem like small things but they do 2 things to buyers. First they will think the home needs work and will deduct much more than it would cost to fix those items. If the repair bill total is $100 the buyer will deduct $1,000 or more. Secondly, when the buyer sees small things wrong they wonder what big ticket items you have also neglected. Don't give the buyer an excuse not to buy your house!

De-clutter your house! If you can't eat it, sit on it or it's not a decoration, store it away from the house. Remember, the buyer will not appreciate your skull collection even though you use them as decorations all over the house. Have a lot of things on your kitchen counter? Put them in cabinets. Keep the counter as empty as you can. It will make the kitchen appear that much cleaner and larger. Have a wall full of family pictures? Remember they are YOUR family and not the buyer's family. Pack them away in boxes (it will save time when you move, too). If you have to, rent a storage locker or pod and remove all those personal items that you want to keep but need to remove until you sell!

Rearrange your furniture to allow for a smooth flow through your home. Put extra furniture in that storage locker. Minimalize everything. This is one situation where less is really more! Don't empty your home, though. If you have an empty room, put something in there to suggest the room's use. If it is a bedroom, rent a bed. Or get an inflatable bed (good for future overnite guests, too) and put bedclothes on it. If it's an office, put a desk or table with a laptop on it. Don't have a laptop and don't want to buy one? Buy a ledger, write some figures in black ink and lay a pen across the page suggesting it's use. Maybe put a small table lamp on the desk or table, too.

Ok, now you need to address your closet and other place where you typically stuff your belongings when you don't know where else to put them. Organize everything. Get some of those vacuum-packed bags for clothes and other material items. They will shrink the space you need to store them in. Is it essential to display that stuffed animal now? If not, store it away. If so, maybe consider putting it in a bookcase or drawer.

Once you have everything de-cluttered, organized and stored away, become a cleaning tornado! Clean every inch of your house - from the ceilings, down the walls, the little ridges in your windows and sills, the corners of your floor and everywhere in between. Are your floors stained? Research how to remove the stain. If you can't, replace the flooring. Remember, it will cost you less in the long run.

Have a pet that you love? Probably a buyer won't so make it seem invisible to a buyer - get rid of the odor. Consider buying some diffusers for each room. Research aroma therapy and put the appropriate scent in each room (like lavender for the bedroom, lemon for the kitchen, etc. One thing that I found works, is put a few ounces of vinegar into a small cup. Tuck it out of site in a room with offensive odors. I found that it works for me and you really don't smell the vinegar.

Ok. The next thing to consider is lighting. Do you have a lot of windows to let the sunshine in? Don't close the drapes or blinds. Leave them open for as much sunshine as you can. Don't have a lot of windows or does the room always look dark? Consider adding some lighting to that room and make sure it's on when potential buyers come through. A dark home, no matter how clean it is, gives the impression that it's not clean - not what you want the buyers to think!

Keep the temperature comfortable. Keep the heat on in the winter and the air conditioner in the summer. I know, it will cost a few cents more to keep these on when no one is home (you are planning not to be there when a Realtor shows your home, right?), but those few pennies could result in a higher offer price when the buyer can feel really at home in your house.

In summary, if you want to sell your home, be committed to it. Buyers need to visualize themselves in your home. Your job is to make sure they can. Expect some inconveniences but remember, the end result is that you'll get the maximum dollar for your house and you can move on to the next stage in your life. Keep your home in tip-top shape at all times. This allows for last minute showing appointments. You don't want that buyer who is only going to be in town today to not see your house or worse yet, to see it when it's a mess. If you use a Realtor, be part of the selling team and not the opposing team!

Best of luck.

Sharon Sapp, e-Pro Realtor® and CGRN® Specialist

For Old Fashioned Service with Today's Results!

Century 21 Call First

www.YourRealtor4Pa.com

Mailto:Sharon.Sapp@Century21.com

Office: 610-898-6255 Cell: 484-955-1075; Fax: 610-921-5729

I will treat the referrals you give me just like they were family!

Purchasing a foreclosure (bank owned home) tips & a guideline for Macomb County MI home buyers

Sharon Sapp (Century 21 Call First) — Wed, 22 Jul 2009 09:14:26 -0500

Purchasing a foreclosed home is not always the right choice. Read the tips and guidelines below. Don't pay much attention to the commercials talking about a $100 per month mortgage. If they are out there (and I've not seen a nice home at that kind of price), they will need tons of work - then you are paying the contractors instead of the mortgage. You pay either way so know what you are getting into before you jump!

Via Kris Wales-Macomb County MI real estate -Ask me about buyers agency in Michigan (Keller Williams Realty - Lakeside Market Center):

Below is a tips & guideline article that I have written for my Macomb County MI home buyers who have inquired about purchasing a foreclosure (bank owned home) in Macomb County. They have all found it very helpful to read this before we begin looking at the foreclosures. I hope it helps you also.

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PURCHASING A FORECLOSURE – TIPS AND GUIDELINES

Prior to making your offer:

Always consider an offer on a bank owned home to be your “best and last” offer as many of these homes are already bargain priced. We are seeing many multiple offer situations on these homes. You may only get one chance to bid on them – make it your best offer from the start of the process.    Even if the bank owner comes back with "present your highest and best offer" you will know that you have already done so and I can send the response "It is the highest and best" to the listing agent.

Bank owners and/or asset managers require full proof of funds (if a cash offer) or a pre-approval for mortgage letter with any offers submitted. If you haven't talked to a mortgage lender yet and submitted the necessary documents for a pre-approval, do it. The foreclosure owners will not look at an offer without one, or proof that you have the cash in full to pay for the home.

The bank owners also may require a certified or cashiers check payable to the listing office prior to reviewing an offer to purchase. I will try to get that condition waived, but for the most part we are unsuccessful in doing so.

Bank sellers will want to see a closing date of no more than 30 days from the date of first offer to purchase. If you experience a delay in your mortgage approval or other reason for delaying the closing you will probably be charged a fee for each day that the closing is postponed. The bank / asset manager may also withdraw the contract and put the home back on the market.   Sometimes we will even see the verbage "Closing must take place the same month in which offer was accepted" in the contract. This ma not be possible if you are obtaining a mortgage, and you may elect to not proceed if we see this condition.

After your offer is submitted:

Offers on bank owned homes generally take 3-7 business days to receive a response back from the lender and/or asset manager. A signed acceptance of your offer may take an additional 3-7 business days. The old adagage "Hurry up and wait" surely speaks in volume for this waiting period from foreclosure owners.

Bank addendums & terms to the contract of sale must be agreed to by the purchaser and signed. (There are a few exceptions to this, for the most part their terms are inflexible.)   Yes, they can be unreasonable. Only you can make the determination whether the additional hoops to jump through are acceptable to you. If they are not, then we'll move on to another home.

Home inspections

If the utilities are not on in the home they will have to be turned on in your name if you desire to have a full inspection on the home. (A full inspection is always recommended.)   Note: The gas company will require that you be at the home when the gas is turned on. I should mention that you will only be given a 45 minute notice from the gas company to be there.   Your home inspector cannot do a thorough job on your inspection unless the utilities are turned on.

Consider your offer to purchase with “As-Is” in mind. Banks/asset managers will normally not make any repairs to the homes.

Inspection contingencies are normally 5-7 days from the date of sellers acceptance. (Rarely do they allow more time.) You must be ready to proceed with a home inspection quickly in order to meet the deadline.

Closing on your home:

Closing date, time and location are set by the title company hired by the bank owners. We have very little flexibility, if any, in choosing a time that is preferable by the purchaser.

Many bank owned homes close in “escrow”. We will arrive at closing, sign all necessary documents and if the bank signed documents have arrived to the title company and funds have been exchanged, then you will receive your keys to the home.

If the bank signed documents have not arrived in time for the closing, you will receive your keys to the home and your closing documents at a later date. Most often this is within 1-3 business days of closing.

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If you have any further questions about purchasing a bank owned home (foreclosure) in Macomb County MI please don't hesitate to contact me. No pressure - just conversation.

~Kris Wales~ A Macomb County MI real estate agent & partner for your real estate needs.

SEARCH MACOMB COUNTY MI HOMES FOR SALE                    CHAT ABOUT MACOMB COUNTY MI

Sharon Sapp, e-Pro Realtor® and CGRN® Specialist

For Old Fashioned Service with Today's Results!

Century 21 Call First

www.YourRealtor4Pa.com

Mailto:Sharon.Sapp@Century21.com

Office: 610-898-6255 Cell: 484-955-1075; Fax: 610-921-5729

I will treat the referrals you give me just like they were family!

It's Free, It's Fun, It's Your Credit Report?

Sharon Sapp (Century 21 Call First) — Tue, 21 Jul 2009 09:09:39 -0500

Confused about your credit? This is a great article from an Allentown lender. Hope it helps unravel the confusion!

Sharon Sapp

Via Jason Sardi, Mortgage Banker (FHA-VA-USDA-Conventional-Pennsylvania Loans):

To say your credit history & score is HUGE these days may be a borderline understatement! For purposes of my experience, I'll concentrate on how credit relates to getting a mortgage to buy a home or trying to refinance the one you currently own.

Talking about credit is about as much fun as chewing broken glass while watching Yanni's latest video on VH1, at least to most. Even for the most severe masochists or staunchest Yanni advocators, it's probably not a subject full of brim excitement.

So, I'll try to make this concise and simple. Educating yourself and working with professionals who can guide you along the way, to make sure your credit is worthy of a three course meal at the White House, is crucial. I'm not just talking about those whose credit is in the crapper. I'm also writing to folks whose credit may be moderate or maybe you've never made a late payment in your life but your score is low. The Credit Reporting Industry is wagging the dog, forget about whining... work and know the system.

Here are a few tips & quips:

* Get a copy of your Credit Report. It may not provide your actual credit score, but at least you can verify the accuracy of the information on your report. I've included information below that you can utilize to do this. Quick thing here, credit modules differ within industries. For example, the credit report a mortgage company pulls may differ from that of the institution giving you a car loan or credit card. Mortgage folks weigh heavy on student loans and car loans and even heavier on your Mortgage History, provided you have one.

* Communication is key with your credit. If you are experiencing rough financial times, call them before they WILL call you. Let your creditors know what is going on. It probably won't stop them from reporting you late to the credit agencies, but it probably will provide you one less of a headache. That's what life's all about... avoiding headaches:-)

* The only thing that may be just as bad or even worse than credit overload, is no credit at all. Establish yourself in the creditor's eyes. If you have no credit, get secured credit that reports to all three credit reporting agencies. This may mean making a deposit at your bank and taking out a loan against it or pre-paying on a credit card. If you are doing the latter, use that credit card and pay it off it off regularly.

...if you have a bankruptcy or foreclosure in your past, establishing 12-24 months worth of a good credit is absolutely crucial!

* Oh, those credit cards. I'll put it bluntly, the bigger the differential between what your current balance is and what your available balance is, the better for your Credit Score. Don't be afraid to call your credit card company and ask them to raise your available balance. Don't use it, just have it there to improve your credit standing and score.

...sidenote on credit cards. Don't be afraid to call your current credit holders and ask them to lower your interest rate. If the first person you talk to can't or won't, ask to speak with a manager. If unsuccessful in that endeavor, call back at a later date. Be persistent & professional in your efforts. Lowering your rate even the slightest bit can save you some serious money now and down the road.

* Pay your bills on time. Yeah, I know, this is a no-brainer to most. Yet, it doesn't report late to the credit bureaus until you fall 30 days late. Try to make sure you don't get 30 days late on anything. Sure, you may incur late fees if you are even a day behind on some credit, though Mortgage Companies typically give you a 15-day grace period before you incur any late fees. From my experience, make sure your mortgage/rent is paid on time first, then student & car loans, then credit cards. If you are a renter...

...pay your rent by check and keep copies of your canceled checks. Twelve months worth will do (pay month by month, pre-paid bulk payments won't do you any favors...create a consistent history). This establishes a housing history. While it doesn't do anything positive for your credit, it does wonders when you apply to buy a home.

* Settle delinquent accounts for pennies on the dollar. If you owe the International Bank of Jason Sardi a cool $5,000.00 and your account is charged off, you should call to arrange a settlement once it goes to collections. Often times, you can come to an agreement for a lump sum of $2,500.00 or less and you may even be able to work out a payment plan. Either case, make sure you pay that account satisfactory and get the paperwork of the agreement and the final pay-off to prove it. Paying off delinquent accounts will probably drop your score at first, but will do wonders for your score down the road (provided you keep paying everything else on time).

* Avoid 'Hard' Inquiries. Your current creditors may check your credit, but that is considered a 'Soft' inquiry and shouldn't affect your credit score. Yet, if you are applying for credit out the behind, those inquiries can adversely affect your score. It raises the red flag that you may be on your way to becoming credit dependent. Psychologically speaking, never give them that drift, make them know that their livelihood depends on you... not the other way around.

* Credit Restoration Companies may be able to help but avoid anything that says, "Consumer Credit Counseling." CCS is considered a form of bankruptcy in many lenders eyes and their ability to pay your debts at a 'consolidated interest rate & lower payment' is suspect and often times worsens the situation. On the other hand, I've only witnessed one Credit Restoration Company worth its weight in the seven years I've been traveling this gig. There may be and probably are more, but I've only witnessed one. If you want more info, contact me. Always remember though, you can do everything to make sure your credit is at it's best, yourself... it's a matter of being educated and persistence in your efforts. That takes time. Though time is a commodity not all of us have.

Below is info on the reporting agencies that you should contact to get started. Even if you have an above average credit score, you'll pay more than you should if your credit score is even 20 points lower than the next guy or gal. Save yourself money, put in the time and seek out the Mortgage Professionals to ensure that time is well spent. Your credit is crucial... our knowledge of the industry and mechanics involved... can save you money and fulfill your dreams of home-ownership. If you already are a homeowner, we can help you get on the path to make finances one less worry in this life.

Equifax

P.O. Box 740241

Atlanta, GA 30374

1-800-685-1111

www.equifax.com

TransUnion

P.O. Box 2000

Chester, PA 19022-2000

1-800-916-8800

www.transunion.com

Experian

P.O. Box 2104

Allen, TX 75013

1-888-397-3742

www.experian.com

Bear in mind, at this point, you're entitled to one free credit report a year. Or, and I'd personally recommend this, you can get the whole batch which is simply called the 'Annual Credit Report Request Form.' That's free as well! The following sites will lead you in the right direction:

http://ftc.gov/credit

www.annualcreditreport.com

The bottom line in all this, the status of your credit can either cost or save you money. Which option sounds better to you?

***UPDATE!***

Lori brings up a good point with the following comment:

i Jason,

What a great blog. You gave a lot of valuable information. I envy your writing skills. I have just one comment, be careful on advise towards settlement's. While it may make the consumer feel like they have done the ethical and moral thing, it mayl not help their credit rating. In reality, you can actually hurt it in the long run. That item can now be reported up to another 7 years. Understand that this reporting is fromthe date of last activity. If you are dealing with an item that has been reporting for a while and is about to fall off, by paying the debt it will be re-activated and stay on for up to another 7 years. The bottom line is a negative entry is a negative entry. Advise on repairing credit should be looked at on a case to case basis. Each credit profile is as individual as a fingerprint. While most of your information is spot on, there are certain things that can't be generalized. I wish I had your writing skills to be able to give out all the information in my head. I am working on that end of my social networking. Again, great post and feel free to call e-mail me with any questions relating credit repair, credit profiles or any credit related issue including identity theft.

Happy Thanksgiving-Lori Isaacson

11/25/2008 01:46 PM by Lori Isaacson (Credit Restoration Consultants) Delete Report as Spam

Sharon Sapp, e-Pro Realtor® and CGRN® Specialist

For Old Fashioned Service with Today's Results!

Century 21 Call First

www.YourRealtor4Pa.com

Mailto:Sharon.Sapp@Century21.com

Office: 610-898-6255 Cell: 484-955-1075; Fax: 610-921-5729

I will treat the referrals you give me just like they were family!

203k Made SIMPLE? Yes, for your clients..........

Sharon Sapp (Century 21 Call First) — Wed, 15 Jul 2009 08:42:11 -0500

Are you qualified for a FHA loan but the home you want needs repairs and you don't have the money to do them all? There is hope. Read on....

Via Colleen Craig (Southern California Mortgage Professional):

203k MADE SIMPLE?

Ok, maybe not, but I will attempt to make it as simple as possible for the client to understand and want to read on.  For many of us in the business who are " in the know" we forget that we need to go back to the basics and spell it out in simple terms for others to understand. So I've compiled some information based on my most recent commonly asked questions just this week.

In Southern California, FHA loans were just not utilized over the past 10 or so years because of the FHA Maximum Mortgage limits But now that the limits have been increased and the prices have decreased, FHA loans have become the most utilized loan in recent months. HOWEVER, because it was not a popluar loan, you would be amazed at how many lenders/brokers do not know what they are doing. Especially when it comes to the 203k loan. I spoke to a client today that was given such mis information it made me cringe.



Apparently they told the client that 203k loans were no longer being done (Gee, you think it was after realizing that they had no idea what they were doing?) and they tried to flip them into another loan. This was after telling my client that their loan amount would be for the contract price and the extra money would just be separate and sit in an impound account to be disbursed over the next 6 months. Ok partially true, the extra amount would be in escrow to be disbursed as the remodel progressed, but for free? Who pays for the extra 50,000 dollars you just borrowed for repairs? Your loan amount is for the entire amount you are borrowing. Makes sense right?

So what is a 203k loan and why use one?

When a buyer wants to buy a home that needs repairs utilizing FHA financing, normally the repairs would have to be completed prior to the close of escrow.   The repairs would normally fall on the responsiblity of the seller. With so many foreclosures in today's market, the bank is the seller. And many times the home in need of repair is listed "as is". Which in the past would require a cash buyer or conventional financing. This is another reason that people in the business decided to shy away from FHA loans. I believe it was pure ignorance of the programs that were available by the brokers and the realtors couldn't properly prepare their seller for what to expect that gave FHA loans a bitter taste.

My associate Jeff Belonger said it best in his post about ignoring what your listing agent tells you about FHA loans

Here we go....203k loans for dummies



* 203k loans allow you to FINANCE the cost of the repairs in the new loan amount. (Not to exceed 110% of the after improved value determined by the appraiser and 203k consultant) What does this mean? I buy a house for 200,000 that needs 50,000 in repairs and I can borrow the extra 50,000? Too good to be true? NOPE. That's it in a nutshell....

ok details please.........

* Down payment is basesd on the sale price PLUS the final cost of the repairs x 3.5% so for example:

Sale price is 200,000 (DO not calculate 3.5% on this) PLUS 50,000 in repairs/costs (which includes certain costs and reserves the lender will require) 250,000 x 3.5%. Down payment is $8750.00 (closing costs are separate as usual)

* Buyer will hire (lender can recommend) a HUD approved FHA 203k Consultant  to go to the property with the buyer to determine the required repairs and wish list repairs.

The fee charged by the consultant can be included in the mortgage. The fee can range anywhere between $ 400 to $1200 depending on the repairs required. Please check with the consultant prior to scheduling your appointment.

*Buyer will obtain estimates from several licensed contractors for the work to be completed depending on how extensive the repairs.

Three estimates are recommended for each contractor but not necessary. The buyer can act as their own general contractor only if experienced and licensed. (FHA says experienced, but most investors require the buyer to be licensed) The contractors must provide documentation to be approved by the lender prior to approval.

The consultant will determine the "required" repairs versus the "wish list repairs". You must start with the required repairs and then move on from there for you wish list. This is an important step for the consultant and appraiser so that you don't over improve the home and exceed the comparable properties in the area.

* Once the consultant completes his report of required and wish list repairs, the lender will forward it to the appraiser for an "After Improved Value". This is where you may run into problems with OVER improving the property based on current values. Between the consultant, appraiser and buyer - the FINAL FINAL report will be tweeked to come up with a final report that the contractors will be hired to do.

* So now the file is submitted to underwriting and approved ( you need to qualify at the full amount you are borrowing of course, which may include your current mortgage payment for the home you will live in during the rehab period) and the normal steps for closing will occur.

(BIG PLUS - you can include 6 months of mortgage payments in the new loan amount since it's assumed that you will have TWO housing payments during the rehabiliation of the new home. This money will be deducted each month during the reahab process) This is optional.

* Closing occurs, and the work begins within 30 days of closing/funding. (This is when your mortgage payments start since this is when you started borrowing the money - however, if you included the 6 mths mtg payments, they will be deducted from escrow starting when your first payment is due)

* Disbursments are made throughout the following 6 months from the escrow account (normally 4 draws with one final inspection, but this can be increased for higher repair amounts) as the work is completed.

Remember you paid the seller for the price of the home, and then you borrowed an additional amount of X which is sitting in an escrow account to pay the contractors (your total loan is the total amount you borrowed)

Once the last disbursement is made and the final inspection showing COMPLETED AS PER THE CONTRACT........you are done! Simple ast 1 2 3 - okay maybe not, but that's why having an experienced lender on your side is crucial!

There are specific properties and repair requirements for this type of loan, so please call me for specific details if this sounds like the right loan for your new home.

Please send me your before and after pics! I would love to see them and maybe even post them for people to see what can be done with this awesome program! Or contact Colleen Craig FHA 203k Specialist for more details

Happy Rehabbing!

Sharon Sapp, e-Pro Realtor® and CGRN® Specialist

For Old Fashioned Service with Today's Results!

Century 21 Call First

www.YourRealtor4Pa.com

Mailto:Sharon.Sapp@Century21.com

Office: 610-898-6255 Cell: 484-955-1075; Fax: 610-921-5729

I will treat the referrals you give me just like they were family!

Buyer Birds and Bees

Sharon Sapp (Century 21 Call First) — Wed, 08 Jul 2009 10:21:01 -0500

Think selling your home is nerve-racking? Buyers really don't have it much easier. Read on and you can call me for the talk!

Sharon Sapp

Century 21 Call First

610-921-2400 ext 255

Via Dee Neal Philadelphia Real Estate (Exit Tri-State Realty):

I wonder, do you have "THE TALK" with your buyers? If so, what are you saying?

I recently referred a buyer out to my partner. She has been calling me for about a year. I would hear from her every couple of months when she would have a question on real estate. She was back and forth with her decision to buy a home and decided a couple of months ago to take the dive. I was happy for her that she had finally made her choice. BUT, my plate was full. I was working with quite a few buyers at the time she called me and I knew I wouldn't be able to give her the attention and care she needed so I decided to refer her to my right hand man in real estate because I knew he would take good care of her.

My partner would call me on updates on what they were doing and I'd check in with her from time to time to see how she was doing. Her road has been an emotional one. She found a home pretty quickly, submitted an offer, and it was accepted. Problem: the listing was a short sale and shortly after the agreement was signed, the seller decided she wanted to keep her home and her bank granted her a loan modification.

A few days passed by and she found another home, an offer was submitted and rejected because the seller accepted a higher offer.

After a couple more disappointments, she calls me and tells me how discouraged she was getting with this process and how it was so emotionally draining. Then I had an "Ah haaaaaa" moment. I referred out but hadn't had "THE TALK" with her.

*I make sure to have "THE TALK" with all of my buyers.*

I told her that since we hadn't gone out together, I hadn't had the chance to have "THE TALK" with her like I have with all of my other client's on our first outing. She says to me, "Well what's that?" Then I began to give her the talk:

"Ok, I'm just going to give it to you real here. This is not meant to scare you but to prepare you. This process can be a bitch at times and at times it can be your best friend. I tell this to everyone so when these ups and downs come, you're well prepared and you're expecting it. This search can get on your nerves. What you're going through is typical and honey, you ain't seen NOTHIN' yet. I've seen worse. I sometimes like to liken this process to labor. It can suck and take you through all types of pain and the best part about it is the birth at the closing table. You get anxious. You get emotional. No matter how thorough and proactive we are, a wrench can come from any direction and knock you off your square. You can have your eyes set on a house and your offer can get rejected. You can have your eyes set on a house and be in contract and then the inspection comes and unveils a bunch of issues that you never expected. And while we can simply ask the seller to make repairs, they can and sometimes will give us hell about them. There can be issues with the title. And let's not talk about the bank who can wait until the last minute to drop a bomb that that you may or may not be able to recover from which is why I always give the advice to always have more money than is expected for closing costs for those little "just in case moments". Now once, again, I don't mean to scare you but I need to make sure to prepare you."

Her reply, "Wow, I never knew. So what I am going through is typical?" "Yes ma'am," I said to her.

A couple weeks later when she started to get discouraged because she hadn't found anything else to her liking yet, she called me and thanked me for "THE TALK" because had she hadn't heard my brutally honest talk, she would've thrown in the towel in her search.

What I find is that my talk, though brutal, is effective. Every time a buyer faces a challenge, I get the same response, "You told me to be prepared for these things. I'm glad you did."

So, back to my original question, do you have "THE TALK" with your buyers?

Sharon Sapp, e-Pro Realtor® and CGRN® Specialist

For Old Fashioned Service with Today's Results!

Century 21 Call First

www.YourRealtor4Pa.com

Mailto:Sharon.Sapp@Century21.com

Office: 610-898-6255 Cell: 484-955-1075; Fax: 610-921-5729

I will treat the referrals you give me just like they were family!

"I've already done the work and found a house. I just want an agent to write the offer ...

Sharon Sapp (Century 21 Call First) — Mon, 06 Jul 2009 13:12:38 -0500

Do you think that the biggest piece of the process for buying a home is mainly just finding a home to buy? Read this!

Via Pacita C Dimacali, Alameda & Contra Costa CA real estate (Gallagher & Lindsey, Inc. 510 748 1148):

...and give the buyer 75% of the commission."

This prospective buyer found me on Trulia to ask me if I can write an offer for her. She said she already "did all the work." She has found a house. She "just" wants the agent to write the offer and handle the paperwork." In turn, she wants the agent to give her 75% of the agent's commission as a "gift"

Let's see....assuming a sales price of $300k at2.5% commission to the selling agency, that's $7500 total commission. Assume that the realtor has a 70% split with his/broker.

$1875 gross commission (25% of the total commission that you propose the realtor and the agency gets)

Less: 30% split= $1312 is 70% split to the realtor

Less: transaction fee of $400

Less: Errors and omission insurance of $150

=$762 for the realtor (and that's before taxes!)

10 hours minimum spent on transaction --- that's to;

write the offer and get required signatures, preapproval letter, initial deposit check

submit offer to the listing agency

if offer is countered, prepare response and counter offer

if accepted, get all the necessary disclosures and documents signed by both parties

open escrow by giving copy of the agreement, names/numbers/emails of all parties involved in the transaction

get preliminary title report on the property and review with buyer

connect with the lender by giving copy of executed agreement

coordinate bank appraisal

follow up with loan underwriter after appraisal to find out if property appraises for the amount of the loan

schedule inspections if necessary

if not an REO (bank-owned) prepare request for repairs as needed following inspections

negotiate request for repairs and/or credits

outline and monitor timelines for contingency release for loan appraisal/approval and buyer investigation periods

get buyer to release contingencies at the appropriate times or request extension

give closing terms to escrow officer

verify closing statements

phone calls to listing agent and buyer throughout the process

Furthermore, the realtor will be taxed for the gross amount of the commission received. The whole amount of the "gift" or 75% of the commission is not going to be a total tax write off, even if it's written as an expense.

As such, I don't think netting $762 for all this work is worth it, even if the buyer found the property herself. That is just ONE step in the whole buying process. That's the beginning, sure. But the real work lies ahead. Going through the buying process isn't just about finding a place and writing an offer.

Furthermore, if this is a distressed property, or if there are litigation issues, and even if her offer was accepted, there could be lender or underwriting challenges if the loan is rejected.

I tried to explain all this to the buyer, told her that other realtors will probably tell her the same thing.

I wished her good luck, and bid her adieu.

UPDATE: Some states ban brokers from offering cash rebates to consumers http://www.usdoj.gov/atr/public/real_estate/rebates_details.htm

Sharon Sapp, e-Pro Realtor® and CGRN® Specialist

For Old Fashioned Service with Today's Results!

Century 21 Call First

www.YourRealtor4Pa.com

Mailto:Sharon.Sapp@Century21.com

Office: 610-898-6255 Cell: 484-955-1075; Fax: 610-921-5729

I will treat the referrals you give me just like they were family!

8000 Reasons Get Your Butt In Gear: Deadline for First Time Homebuyer Tax Credit Looms

Sharon Sapp (Century 21 Call First) — Fri, 26 Jun 2009 09:10:13 -0500

Need $8,000? Then read on!

Via Janet Guilbault California Mortgage Banker/Broker:

First time home buyers: Are you still at the computer, doing endless "research" on how to snag the $8000 TAX CREDIT for buying a house this year?

Does the November 30th deadline seem like a million years away as you think about fireworks (not turkey leftovers)?

First time home buyers: Get your butts in gear. NOW.

This is the wrong time to claim you only get motivated when a deadline looms.

This is the wrong time to tell everyone you are a "last minute kinda person" who pulls an all nighter when you have a term paper, and shops for Christmas presents on December 24th.

Here's why: Buying a house takes longer than you think. There are 8000 reasons you DO NOT want to miss this deadline.

Let's back things up. Do you think OTHER first time home buyers might wait until the last minute? Lenders could very likely experience an overwhelming amount of applications this fall.

With applications already taking 45 days, it could easily take 60 days to close your loan. Or more. Lenders are already ridicuously understaffed.

This means you will need to be in contract no later than the end of September.

If you have not already done so, you will need to accomplish this during the months of July, August and September:

Find a Mortgage person

Find a Real Estate Agent

Find a House

Make an Offer, negotiate terms. Find another house if first offer is rejected. Get new offer accepted.

Get financing completed and loan closed.

Some likely time lines and what to expect:

1. Apply for a mortgage. Provide the required documents and ask for a pre-approval. This will uncover any glitches standing in the way of your approval. This will make certain you have the right amount of funds in your account, or lined up as a gift. This will let you know your price range before you begin shopping for a house. This will let the Realtor know you have done your homework and are serious. ESTIMATED TIME REQUIRED: 1-2 weeks

2. Figure out where you want to live and find a Realtor. Look for a Realtor that knows the neighborhood where you would like to buy. Communicate openly and be on the same page if you are buying with another person. ESTIMATED TIME REQUIRED: 2-3 weeks

3. Shop for a house with your Realtor. ESTIMATED TIME LINE: 3-4 weeks.

4. Make an offer, negotiate terms, get in contract. Ask your Realtor about timing before making an offer on a short sale or a lender owned property. ESTIMATED TIME LINE: 1-2 weeks or more...depending on how many offers it will take to get a house. Market could become highly competitive as the deadline looms.

5. Secure financing with lender, and close the loan. Inspections and appraisal will occur during the time as well. ESTIMATED TIME LINE: 6 weeks to 8 weeks

Worst case estimated time line: 19 weeks.

Weeks until November 30th? 22 weeks, beginning next week.

Can you do this in less time? Yes you can.

Just like when you gave your Mom that lame ceramic unicorn for Christmas (purchased in a panic on Christmas Eve, thrown in an obviously used gift bag, then sneakily placed under the Christmas tree minutes before gift opening).

Written by Janet Guilbault, Mortgage Banker/Broker Based Out of the San Francisco Bay Area

Sharon Sapp, e-Pro Realtor® and CGRN® Specialist

For Old Fashioned Service with Today's Results!

Century 21 Call First

www.YourRealtor4Pa.com

Mailto:Sharon.Sapp@Century21.com

Office: 610-898-6255 Cell: 484-955-1075; Fax: 610-921-5729

I will treat the referrals you give me just like they were family!

SCORE BETTER CHECK IT TWICE

Sharon Sapp (Century 21 Call First) — Tue, 16 Jun 2009 08:42:16 -0500

Concerned about getting a mortgage because of your credit? Read on!

Via Harry F. D'Elia III (Real Estate and Beyond, LLC):

When considering purchasing your first home, whether you get the mortgage or not, may depend on your credit score. Your score is determined by a network of credit reporting agencies, that either share information with, or are owned by, three major credit bureaus. The bredit bureaus take the information reported by the agencies and turn it into one report. This is your credit report and is what lenders use to determine whether or not to issue mortgages or other loans.

It's a good idea to inorder to know where you stand before you get too far in the home buying process, that way you can be aware of problems before they jump up and derail your plans.

Getting copies of your credit reports is easy. You can request a copy from each of the three major national credit bureaus: Equifax, Experian and TransUnion. Checking your credit can cost you as much as $9 per report, although it differs from state to state.

If you applied for a loan and were turned down, you are entitled to a FREE COPY of your credit report, but you must request a copy by writing the correct credit bureau within 30 days of the rejection. With your request, you should include a copy of the declined loan application.

You can also get a free report if you are unemployed, planning to apply for jobs in the next 60 days, receiving public welfare assistance or believe the credit file contains mistakes resulting from fraud.

To obtain a copy of your credit report, call the number of the proper credit bureau and follow their directions, or order it online. If you write, you will need to include your full name, date of birth, current and former address, Social Security number, your spouse's name and your phone number. Each person requesting the report should sign the request.

When planning to buy a home, you should check your credit at least three to six months before you apply for a mortgage.

Once you get the report, you should make sure the following information is correct:

Your name, or names if you are or were married

Social Security number

Date of birth

Addresses of places you've lived

Names of places you've worked

Pending accounts and accounts that have been closed

Nothing has been on the report longer than is allowed by law:

-- Bankruptcies must be taken off your credit history after 10 years.
-- Suits and judgments, arrest records, and most other kinds of unfavorable information must be dropped after seven years. Tax liens must be dropped seven years after the lien is paid in full.

· Records of delinquent payments or other problems (i.e., make sure they aren't mistakes)

Any error that you find must be investigated by the credit bureau and with the creditor who supplied the data. The bureau will remove any errors a creditor admits are there. If you disagree with the findings, you can file a short statement in your record giving your side of the story. Future reports to creditors must include this statement or a summary of it.

Be certain to be careful about applying for additional credit when you're about to apply for a mortgage. When the mortgage company checks your report they can find out who else has been checking your report and determine what, when and how you have been applying for credit. That means if you have been getting turned down and are desperately applying for credit all over town your potential mortgage company will know, and might turn your loan down because of it.

Obtaining a lease option is a great way to go if one cannot obtain conventional financing at this moment. Please visit www.JustRentToOwn.com for further information.

Sharon Sapp, e-Pro Realtor® and CGRN® Specialist

For Old Fashioned Service with Today's Results!

Century 21 Call First

www.YourRealtor4Pa.com

Mailto:Sharon.Sapp@Century21.com

Office: 610-898-6255 Cell: 484-955-1075; Fax: 610-921-5729

I will treat the referrals you give me just like they were family!

ActiveRain Community Search - HGTV’s "House Hunters" Is Now Casting

Sharon Sapp (Century 21 Call First) — Tue, 09 Jun 2009 18:54:45 -0500

Wanna be a TV Star? Read on!

Via Brad Andersohn ~ Community Builder (ActiveRain):

ActiveRain Members - HGTV’s "House Hunters" Is Now Casting and Looking for YOU!

HGTV’s hit TV series, House Hunters, is looking for Homebuyers and Real Estate Agents who want to appear on the show! ActiveRain and HGTV are working together in an effort to find qualified candidates who may be interested in sharing their "House Hunting" journey on National Television.

This could be a huge opportunity, and a lot of fun for some of our members and their clients.

House Hunters follows buyers and their agents on the hunt as they find just the right house for them—and every story is different. If you’re an energetic and outgoing Real Estate Agent currently working with a Homebuyer, we'd love to hear from you.

Are you in Pennsylvania, New Jersey, Missouri, Minnesota, Georgia or Colorado?

House Hunters is currently looking for Homebuyers who are:

Buying within a 90 min. drive of downtown Philadelphia, Denver, Atlanta, Minneapolis/St. Paul and St. Louis

Closing in the next 1-2 months, this includes buyers who are actively bidding on a home or newly under contract

Fun, enthusiastic, and have a great story to tell

If you're interested, let me know and I'll forward your information to their Associate Producer. If you'd rather, you can also apply directly at HouseHunters@HighNoonEntertainment.com. Thanks for helping us find some members and clients for their show, we're excited about assisting them with this endeavor.

House Hunters airs weeknights at 9/8c on HGTV and is produced by High Noon Entertainment. To learn more about the show visit HGTV.com/HouseHunters. We appreciate your support with this Casting Quest.

Sharon Sapp, e-Pro Realtor® and CGRN® Specialist

For Old Fashioned Service with Today's Results!

Century 21 Call First

www.YourRealtor4Pa.com

Mailto:Sharon.Sapp@Century21.com

Office: 610-898-6255 Cell: 484-955-1075; Fax: 610-921-5729

I will treat the referrals you give me just like they were family!

AVOID TOP 5 CREDIT MISTAKES WHILE OBTAINING A LOAN

Sharon Sapp (Century 21 Call First) — Fri, 05 Jun 2009 09:57:38 -0500

I'm often asked (especially today) how someone can raise their credit score or what to teach their kids when it comes to credit. The following is a post I read from a financial guy and it pretty much sums up what I've been telling folks. What do you think?

Via Harry F. D'Elia III (Real Estate and Beyond, LLC):

The credit market has been getting tighter over the last two years even since the real estate bububle. Banks are not issuing as many credit cards to people like they did five years ago. Credit card companies are decreasing people's credit line and/or shutting down the card without proper notificaiton. Many people are upset over this practice because now you are dealing with a person's credit score.

We have all been issued a three digit number which determines our credit worthiness. My grandmother told me to pay my bills on time and in full. That was wisdom to me. However, times have changed and abusing credit is a way of life. I would like to discuss the top 5 mistakes made when dealing with credit:

CLOSE ESTABLISHED CREDIT CARDS-This will take away from a peron's line of credit and the amount of months it has been open. One needs at least three great lines of credit with an established history of onl line payments. Closing great established lines of credit will decrease one's score according to my expert.

Missing Payments-Many people are missing their mortgage payments while doing short sales and/or loan modifications. That drags the credit score down more than 100 points. Other people forget to pay a $25 payment on a credit card and now the credit score has dropped by 80 points. Make your payments on time and in full.

High Balances-Experts state that people should not use more than 30-50% of available credit at all times to maintain a high score. Over 50% will bring the score down even by making montly payments on time. Pay down as much as possible to boost the credit score up.

Settling Past Due Accounts-People settle for less than what is owed to credit card companies every day. However, many people realize that they will receive a 1099 at the end of the year for the difference. This is called a defiiciency judgment and is considered income earned for that year. One can negotiate with the credit card company during the settlement talks. However, they will report it to the bureaus if not paid in full. This will stay on the credit report for 7 years.

No Credit-People have been taught to pay cash for everything. That is great. However, one needs a credit score with history to obtain financing for a car or home. People have to bee taught more about credit and the power of leverage with a conservative background. Credit is part of our lives that cannot be ignored. No credit then a person will not have a credit score.

Conclusion:

We are heading into uncharted waters going forward in the next two years when it comes to real estate and the financial industry. However, I see these mistakes made by people on a weekly basis. Many times it is out of plan ignorance. They do not teach credit education in our school systems. We must continually educate our clients when it comes to credit and the importance of having and maintaining a high credit score to obtain conventional financing for purchasing a home.

Sharon Sapp, e-Pro Realtor® and CGRN® Specialist

For Old Fashioned Service with Today's Results!

Century 21 Call First

www.YourRealtor4Pa.com

Mailto:Sharon.Sapp@Century21.com

Office: 610-898-6255 Cell: 484-955-1075; Fax: 610-921-5729

I will treat the referrals you give me just like they were family!

Why in the World Do I Need Title Insurance?

Sharon Sapp (Century 21 Call First) — Fri, 29 May 2009 21:02:38 -0500

Many of my clients ask why they need title insurance. The following is a list on why it's a great investment in your home.

Via Marie Otis (CBSHOME Real Estate):

I tell my Buyers that Title Insurance is the best insurance policy you can buy. You only pay for it once and it protects you from a wide variety of possible ills.

1. Property Titles: First, Title Insurance protects you from human error. Titles to property were kept in book form for most of the history of the United States. The grantors were in one set of books and the grantees in another set. To trace back a title to its source, a human being had to haul out big dusty books. Although most title information is now on computers there is still a lot of room for error because a title search has so many components.

2. Re-conveyances: These are proof that liens and encumbrances are paid off. These can be placed on a home by a variety of entities. You want to make certain everything is settled and paid off before closing.

3. Easements and Right-of-ways that may exist on any given property. These can be from the local public utility companies but can also be private entities.

4. CC&R: stands for "Covenants, Conditions and Restrictions. These can be put on a property by the developer, the builder or a neighborhood association.

5. Title searches also examine marriage records, death certificates and tax sales.

6. They also look for fraud, forgeries, and missing or incorrect signatures.

7. They look for defective record-keeping.

8. Judgments against the property or owners of a property. This comes into play most often when people have judgments regarding alimony or child support. This affects judgments against Buyers as well as Sellers.

These are reasons to buy Title Insurance. It protects you from, or identifies for you, all sorts of issues as stated above. It's best to buy extended title insurance. It can be extended beyond the 2 year limit and it's your best protection against human error. In Omaha real estate, we at CBSHOME trust Nebraska Land, Title & Abstract for title work. They get you to the closing table on time, accurately and work closely with agents and clients to get the job done.

Sharon Sapp, e-Pro Realtor® and CGRN® Specialist

For Old Fashioned Service with Today's Results!

Century 21 Call First

www.YourRealtor4Pa.com

Mailto:Sharon.Sapp@Century21.com

Office: 610-898-6255 Cell: 484-955-1075; Fax: 610-921-5729

I will treat the referrals you give me just like they were family!