Judy's Blog

Promoting the economic independence of disadvantaged women...

Thu, 10 Dec 2009 10:35:57 -0600

Judy Weinstock, REALTOR®
ABR, CRS, GRI
MY FEATURED LISTINGS

The Judy Weinstock Team at Keller Williams Realty
1516 East Franklin Street
Chapel Hill, North Carolina 27514
888 SEE JUDY (888.733.5839)
www.seejudy.com

What's the difference between a mortgage broker and a lender?

Tue, 24 Nov 2009 11:36:48 -0600

Pre-qualification by a lender is one of the first steps toward making your move a reality. Once you're pre-qualified, you'll know exactly what price range you can afford and learn about and resolve any errors on your credit report right away. Then, once you find the home you love, you will be able to take action quickly, get financially pre-approved for the specific property, and make an offer.

You'll want to find a professional you feel comfortable with, shops the best interest rate for you, and sees you through the mortgage process start to finish. Therefore, it is important to understand the difference between a mortgage banker and a mortgage broker.

A mortgage banker is the local lender who would handle your entire loan start to finish. They are the ones pulling your credit report, issuing you a pre-approval letter, and handling the entire loan process start to finish. However, they only have a handful of products to offer you. A mortgage broker performs these same tasks for you, except once they qualify you and gather all of your info, they match you with an actual lender to process the loan forward. Their primary role is to shop around and find the best deal out there for you, which can save you money. My philosophy is to choose a mortgage broker, but make sure they are local and come highly recommended. It will be crucial to have the the many loan options available that a mortgage broker can find, have a way to easily meet with the broker in person for when you have questions or concerns, AND have the broker available to you until the loan is closed.

My clients have benefited greatly from my local mortgage broker resource. Most of the time we arrange for a convenient consultation all together. Connect with me for that highly recommended and local preferred lender resource you need, and let's get shopping!

Judy Weinstock, REALTOR®
ABR, CRS, GRI
MY FEATURED LISTINGS

The Judy Weinstock Team at Keller Williams Realty
1516 East Franklin Street
Chapel Hill, North Carolina 27514
888 SEE JUDY (888.733.5839)
www.seejudy.com

GREAT TAX CREDIT NEWS!

Thu, 19 Nov 2009 10:55:00 -0600

CURRENT HOMEOWNERS ARE NOW ELIGIBLE FOR A $6500 TAX CREDIT AND THE FIRST-TIME HOMEBUYERS TAX CREDIT HAS BEEN EXTENDED TO 2010!

Click here to access the YouTube video explaining the HOMEOWNERS TAX CREDITS in detail.

Remember a tax credit is just that... a tax credit. The benefit of a tax credit is that it's a dollar-for-dollar tax reduction, rather than a reduction in a tax liability that would only save you $1,000 to $1,500 when all was said and done. So, if a first-time homebuyer were to owe $8,000 in income taxes and would qualify for a tax credit of $8,000, she would owe nothing.

Better still, the tax credit is refundable, which means the homebuyer can receive a check for the credit if he or she has little income tax liability. For example, if a first-time homebuyer is eligible for a tax credit of $8,000 but is liable for $4,000 in income tax, she can still receive a check for the remaining $4,000!

PLEASE CONTACT ME TO START HOUSE HUNTING IN THE NC TRIANGLE AREA!

--Judy
www.seejudy.com
MY FEATURED LISTINGS

Judy Weinstock, REALTOR®
ABR, CRS, GRI
MY FEATURED LISTINGS

The Judy Weinstock Team at Keller Williams Realty
1516 East Franklin Street
Chapel Hill, North Carolina 27514
888 SEE JUDY (888.733.5839)
www.seejudy.com

Captivating Hartley Contemporary

Fri, 13 Nov 2009 15:44:06 -0600

Judy Weinstock, REALTOR®
ABR, CRS, GRI
MY FEATURED LISTINGS

The Judy Weinstock Team at Keller Williams Realty
1516 East Franklin Street
Chapel Hill, North Carolina 27514
888 SEE JUDY (888.733.5839)
www.seejudy.com

Understanding Appraised Value

Fri, 13 Nov 2009 10:12:04 -0600

First of all, appraisals are professional objective opinions of value. Appraisals are not an exact science, and appraised value is not a constant number. For buying and selling purposes, appraisals are usually based on market value, meaning "what the property could be sold for in the current market". Changes in market conditions will dramatically alter appraised value. In addition, appraised value does not take into account "other" special conditions such as the need to sell quickly.

Other types of value include insurance value, replacement value, and assessed value for property tax purposes. Be aware that lenders usually use either the current appraised value or the sale price, whichever is less, to determine the amount of mortgage they will offer a buyer.

-Judy
www.seejudy.com
MY FEATURED LISTINGS

Judy Weinstock, REALTOR®
ABR, CRS, GRI
MY FEATURED LISTINGS

The Judy Weinstock Team at Keller Williams Realty
1516 East Franklin Street
Chapel Hill, North Carolina 27514
888 SEE JUDY (888.733.5839)
www.seejudy.com

THE $8000 HOMEBUYER TAX CREDIT DEADLINE WILL BE EXTENDED!

Thu, 05 Nov 2009 10:25:30 -0600

In case you haven't heard, both the House of Representatives and Senate have passed legislation to extend the existing first time homebuyers $8,000 tax credit, and expanded it to NON first time homebuyers as well, but limit it to $6,500. It's expected to be signed by the President in the coming days. As it's written, the client must be under contract by the end of April, 2010 and close by the end of June, 2010. So let's spread the great news!

--Judy
www.seejudy.com

MY FEATURED LISTINGS

Judy Weinstock, REALTOR®
ABR, CRS, GRI
MY FEATURED LISTINGS

The Judy Weinstock Team at Keller Williams Realty
1516 East Franklin Street
Chapel Hill, North Carolina 27514
888 SEE JUDY (888.733.5839)
www.seejudy.com

SUPER CONVENIENT INVESTMENT OPPORTUNITY!! $145,000

Mon, 26 Oct 2009 10:04:32 -0500

Judy Weinstock, REALTOR®
ABR, CRS, GRI
MY FEATURED LISTINGS

The Judy Weinstock Team at Keller Williams Realty
1516 East Franklin Street
Chapel Hill, North Carolina 27514
888 SEE JUDY (888.733.5839)
www.seejudy.com

Keller Williams New Commercial Division

Mon, 19 Oct 2009 13:45:41 -0500

In February of this year, Keller Williams International launched a new division - KW Commercial. With this development, Keller Williams is now able to serve both residential and commercial real estate needs. The KW Commercial division here in our local office includes agents with extensive experience in a wide variety of commercial real estate transactions including: investments, leasing, sales, development and 1031 exchanges. Whether you are a commercial tenant, a property owner or an investor, or an agent needing to refer a commercial client, I'm sure KW Commercial can help you achieve your commercial real estate goals. If you or someone you know has a need in the area of commercial real estate, please give KW Commercial the opportunity to become your commercial brokerage of choice. You can also learn more about KW Commercial by visiting our website www.kwcommercial.com, or contact me through my website.

--Judy
www.seejudy.com
MY FEATURED LISTINGS

Judy Weinstock, REALTOR®
ABR, CRS, GRI
MY FEATURED LISTINGS

The Judy Weinstock Team at Keller Williams Realty
1516 East Franklin Street
Chapel Hill, North Carolina 27514
888 SEE JUDY (888.733.5839)
www.seejudy.com

Extending the $8000 home buyer tax credit deadline

Fri, 16 Oct 2009 10:40:36 -0500

According to a podcast posted by Chief Economist for the NAR, Lawrence Yun, our government should consider extending the tax credit deadline for new homebuyers.

The key is to stabilize home value prices, or federal interest rates could rise sooner and more sharply. Home value averages are at a historical low, but the Home Buyer Tax Credit has significantly impacted the market and stimulated home sales, steadily trimming away inventory. The market is moving in the right direction. Per Yun, "It would be an utter pity if the housing market, just at the cusp of a self sustaining recovery, rolls downhill again."

According to Yun, the market activities need a moderate increase to continue to regain consumer confidence. He reports that we need to extend the credit for ALL homebuyers at least into the 2nd quarter of 2010. Then the housing market will truly have a self sustaining recovery.

Yes, the price tag for extending the credit would be $10-20 billion, but it would create invaluable long term economic growth to steadily bring down the national $1.5 trillion deficit, the highest ever. Surely we can grant American homeowners this if we just granted Wall Street $700 billion, right?

Fellow REALTORS®, look for calls to action from the NAR and be ready to respond.

--Judy
www.seejudy.com
MY FEATURED LISTINGS

Judy Weinstock, REALTOR®
ABR, CRS, GRI
MY FEATURED LISTINGS

The Judy Weinstock Team at Keller Williams Realty
1516 East Franklin Street
Chapel Hill, North Carolina 27514
888 SEE JUDY (888.733.5839)
www.seejudy.com

Some Things I Check for During Final Walk-thru

Wed, 14 Oct 2009 10:59:30 -0500

Part of my service to buyers is to make sure we do a final walk-thru of the property before signing any closing papers. Here is a list of items I always make sure to check for:

•§ Obviously, repairs you've requested have been made (and we obtain copies of paid bills and any
related warranties at closing). It's actually a good idea to pay for a "re-inspection" with your home
inspector, prior to closing.

•§ All items that were included in the sale price-draperies, lighting fixtures-are still there.

•§ Screens and storm windows are in place or stored.

•§ All appliances are operating (and have not been "switched out").

•§ Intercom, doorbell, and alarm are operational.

•§ Hot water heater is working.

•§ HVAC is working.

•§ No plants or shrubs have been removed from the yard.

•§ Garage door opener and other remotes are available.

•§ Instruction books and warranties on appliances and fixtures are there (or waiting for us at closing).

•§ All personal items of the sellers and all debris have been removed.

--Judy
www.seejudy.com
My Featured Listings

Judy Weinstock, REALTOR®
ABR, CRS, GRI
MY FEATURED LISTINGS

The Judy Weinstock Team at Keller Williams Realty
1516 East Franklin Street
Chapel Hill, North Carolina 27514
888 SEE JUDY (888.733.5839)
www.seejudy.com

Attention Sellers! The secret to selling your home...

Tue, 29 Sep 2009 15:43:28 -0500

The National Association of Realtors conducted a study to reveal over 80% of buyers find their home on the internet. Below are the top 4 types of sites which buyers reported were used find their home:

•1. Multiple Listing Service (MLS)

•2. REALTOR.com

•3. Real estate firm website

•4. Real estate agent website

As an experienced Listing Specialist, I utilize all four (and more!) in my marketing strategy for our clients' properties. Contact me today for a comprehensive look at my marketing plan and sales record.

--Judy
www.seejudy.com
My Featured Listings

Judy Weinstock, REALTOR®
ABR, CRS, GRI
MY FEATURED LISTINGS

The Judy Weinstock Team at Keller Williams Realty
1516 East Franklin Street
Chapel Hill, North Carolina 27514
888 SEE JUDY (888.733.5839)
www.seejudy.com

Exclusive Representation during Your Real Estate Transaction

Fri, 25 Sep 2009 07:59:42 -0500

You should know, recent changes in North Carolina law affect the way the public is represented by real estate agents. To assure that consumers are made aware of these changes, the North Carolina Real Estate Commission and the North Carolina legislature have enacted certain legal protections for buyers and sellers. They created a brochure entitled "Working with Real Estate Agents" which the law requires you to receive at the first "substantial contact" with a real estate agent. The brochure describes the duties and obligations of real estate agents with regard to representing both buyers and sellers of real estate.

It is critical that until you have chosen a REALTOR® to represent you, you do not disclose any confidential information that could compromise your negotiating position. Once you've chosen your REALTOR®, you may then confide in them as your fiduciary, since they then become obligated as your agent to represent your best interests.

--Judy
www.seejudy.com
My Featured Listings

Judy Weinstock, REALTOR®
ABR, CRS, GRI
MY FEATURED LISTINGS

The Judy Weinstock Team at Keller Williams Realty
1516 East Franklin Street
Chapel Hill, North Carolina 27514
888 SEE JUDY (888.733.5839)
www.seejudy.com

Did You Know?? Mortgage Matters

Wed, 23 Sep 2009 12:45:44 -0500

As you take the big financial step of buying a new home and home financing, you should know that lenders and mortgage brokers are required by federal law to provide you with certain printed resources within three business days of applying for a loan.

Contact me today to learn more about the home buying process and to learn more about the $8000 first-time home buyer's tax credit, scheduled to expire December 1^st of this year!

--Judy
www.seejudy.com
My Featured Listings

Judy Weinstock, REALTOR®
ABR, CRS, GRI
MY FEATURED LISTINGS

The Judy Weinstock Team at Keller Williams Realty
1516 East Franklin Street
Chapel Hill, North Carolina 27514
888 SEE JUDY (888.733.5839)
www.seejudy.com

What's so great about a 15 year loan?

Thu, 17 Sep 2009 14:54:37 -0500

A 15-year loan is a great wealth building strategy. The payments actually are not much more than those of a 30-year loan, the "interest paid" is considerably less and the loan is paid off in half the time. Below is a comparison to show the advantage versus a 30 year loan:

30 Year 15 Year

Payment $1,264 $1,715

Balance after 15 yrs. $145,118 $0

Interest paid after 15 yrs. $172,663 $108,672

Interest total $255,089 $108,672

WOW! The 15-year loan will save $146,417 and the monthly is only 35% more than the 30-year loan.

Another advantage of the 15-year loan is that it's a dependable savings plan. You are required to make the payments each month and the savings compound and grow tax-free at the loan's interest rate. The rate is comparable to a taxable return of 5-10% in today's market. For those of us that struggle with actively increasing our savings, the 15-year loan is an easy way to "passively" save.

So why doesn't everyone get a 15 year loan? For the same reason as above - the savings are locked in the equity of the house, with no way to easily access the money. If any emergencies or unforeseen expenses arise, other very costly sources of credit such as equity lines or credit cards may have to be used, possibly instantly wiping out any savings from the 15-year loan. A borrower must have adequate reserves with no other expensive debt, such as credit card balances, before even considering a fifteen year loan. For example, earning a return of 5% on a 15-year loan, but paying 16% on credit card balances makes no sense. In this case, the extra cash should always be used to pay off the credit card balances first.

Contact me today for an introduction to an experienced mortgage broker, and discover if this is an appropriate product for you.

--Judy
www.seejudy.com
My Featured Listings

Judy Weinstock, REALTOR®
ABR, CRS, GRI
MY FEATURED LISTINGS

The Judy Weinstock Team at Keller Williams Realty
1516 East Franklin Street
Chapel Hill, North Carolina 27514
888 SEE JUDY (888.733.5839)
www.seejudy.com

Understanding the Advantages of Home Ownership

Mon, 14 Sep 2009 12:56:09 -0500

Let's look at some basic reasons to move toward home ownership:

•· You will have a great tax write-off.

•· Your housing expense may never go up.

•· You can use, decorate, make physical changes to, and enjoy your home as you see fit.

•· You may increase your equity as your home appreciates in value.

•· You are not at the mercy of your landlord.

•· Your house will become "home," not a temporary living situation.

Versus Renting...

•· You will have no tax write-off.

•· Your rent can go up each year, typically four to ten percent.

•· You must get permission from your landlord to make any changes to your dwelling.

•· You have no equity build-up. Your money is gone for good.

•· You can be evicted, lose your security deposit, and more.

•· Your living situation is always temporary.

Contact me today to get started on the purchase of your new home! You may qualify for the $8000 first-time home buyer's tax credit, scheduled to expire December 1^st of this year!

--Judy
www.seejudy.com
My Featured Listings

Judy Weinstock, REALTOR®
ABR, CRS, GRI
MY FEATURED LISTINGS

The Judy Weinstock Team at Keller Williams Realty
1516 East Franklin Street
Chapel Hill, North Carolina 27514
888 SEE JUDY (888.733.5839)
www.seejudy.com

Why Rent When You Can Own?

Wed, 09 Sep 2009 09:25:48 -0500

Judy Weinstock, REALTOR®
ABR, CRS, GRI
MY FEATURED LISTINGS

The Judy Weinstock Team at Keller Williams Realty
1516 East Franklin Street
Chapel Hill, North Carolina 27514
888 SEE JUDY (888.733.5839)
www.seejudy.com

Why is it a great time to buy real estate?

Wed, 09 Sep 2009 09:03:15 -0500

Do you know exactly why you keep hearing "it's a great time to buy real estate"?.

As affordability of properties drops, naturally the numbers of qualified buyers will decline. This decline of qualified buyers will mean a reduction in demand for homes. With this reduction in demand, the supply of homes for sale will increase, hence the phase "abundance of inventory". As the inventory grows and prices continue to drop, buyer reluctance sets in, and buyers in general hesitant to take action, perpetuating the situation. They begin to "wait and see".

It's a fact that the top 20% of appropriately priced properties, and those perceived as "deals", receives offers & multiple offers in any market. The smart buyers know this is the best time to buy, take action, and they hire qualified, experienced buyer specialist agents to optimize their buying power through skilled negotiation. The best will sell first and the smartest will buy first. It's a buyers' market!

Contact me today to get started and take advantage of the $8000 first-time home buyers' federal tax credit before the offer expires December 1st of this year (another great reason to buy real estate right now!)

--Judy
www.seejudy.com
My Featured Listings

Judy Weinstock, REALTOR®
ABR, CRS, GRI
MY FEATURED LISTINGS

The Judy Weinstock Team at Keller Williams Realty
1516 East Franklin Street
Chapel Hill, North Carolina 27514
888 SEE JUDY (888.733.5839)
www.seejudy.com

Totally Updated Bungalow

Wed, 02 Sep 2009 09:57:00 -0500

Judy Weinstock, REALTOR®
ABR, CRS, GRI
MY FEATURED LISTINGS

The Judy Weinstock Team at Keller Williams Realty
1516 East Franklin Street
Chapel Hill, North Carolina 27514
888 SEE JUDY (888.733.5839)
www.seejudy.com

Managing Real Estate Closing Pitfalls

Tue, 01 Sep 2009 20:28:35 -0500

Most buyers and sellers don't realize or can't forsee the possible delays that can change the course of a real estate closing. Like a doctor, I've seen many cases and scenarios as a professional, know what to expect, and have a team with over 30 year's experience to ensure safe arrival to the close of the transaction (and beyond).

I've posted some scenarios below you should consider when selling or buying a home that can surface during the transaction. Ask yourself if you are prepared or confident to troubleshoot these cases yourself and keep everyone on track so the closing is not jeopardized. If the answer is no, please call me to assist in your next real estate purchase or sell.

One-Week Delays

Buyer submits incorrect information to lender.
Source of down payment changes.
Escrow fails to notify parties about missing documents.
Principals leave town without signing all necessary papers.
Unknown defects are discovered in the property.
Last-minute liens discovered.
Cloud on title.
Move-out date changes.

Two-Week Delays

Lender decides at the last minute it doesn't approve of the borrower or the property.
Lender raises interest rates.
Lender requires last minute reappraisal or repairs.
Appraisal too low.

I look forward to hearing from you!

Judy
www.SEEJUDY.com
MY FEATURED LISTINGS

Judy Weinstock, REALTOR®
ABR, CRS, GRI
MY FEATURED LISTINGS

The Judy Weinstock Team at Keller Williams Realty
1516 East Franklin Street
Chapel Hill, North Carolina 27514
888 SEE JUDY (888.733.5839)
www.seejudy.com

Southern Charm - Hillsborough

Mon, 24 Aug 2009 08:26:52 -0500

Judy Weinstock, REALTOR®
ABR, CRS, GRI
MY FEATURED LISTINGS

The Judy Weinstock Team at Keller Williams Realty
1516 East Franklin Street
Chapel Hill, North Carolina 27514
888 SEE JUDY (888.733.5839)
www.seejudy.com

Immaculate Townhome near Chapel Hill NC!

Mon, 24 Aug 2009 08:20:09 -0500

Judy Weinstock, REALTOR®
ABR, CRS, GRI
MY FEATURED LISTINGS

The Judy Weinstock Team at Keller Williams Realty
1516 East Franklin Street
Chapel Hill, North Carolina 27514
888 SEE JUDY (888.733.5839)
www.seejudy.com

Attention First Time Homebuyers!

Sat, 15 Aug 2009 20:45:23 -0500

Buying your first home is a major step. There's a lot to know and there are also effective ways to complete the home search, financing, and transaction processes that are well understood by real estate professionals who have experience helping first-time buyers. And best of all, these expert services don't cost you any more than if you do everything yourself. In fact, it could cost you NOT to consult a real estate professional.

I've been helping first-time home buyers for years. I would LOVE to send you some of my complimentary resources to prepare you for shopping for and purchasing your first home. So when you feel ready to own your own home, please call or email me.

Judy
www.seejudy.com
My Featured Listings

Judy Weinstock, REALTOR®
ABR, CRS, GRI
MY FEATURED LISTINGS

The Judy Weinstock Team at Keller Williams Realty
1516 East Franklin Street
Chapel Hill, North Carolina 27514
888 SEE JUDY (888.733.5839)
www.seejudy.com

100% Financing option w/ NO closing costs/PMI & 5.25% rate!!

Tue, 11 Aug 2009 21:45:28 -0500

One of my colleagues shared she has found a 100% Financing option w/ NO closing costs/PMI &
<5.25% interest rate for her buyers! How did she do it?...

Her buyers had so-so credit (590-640), good jobs, and were highly motivated to buy, but didn't have enough cash for either down payment or closing costs. She sent them through a non-profit, community advocacy program called Neighborhood Assistance Corporation of America (see
www.NACA.com) for financing, and now they will be pre-approved to buy in less than 30 days and are getting a 5.25% interest rate!

To be eligible to use their program, my colleague attended the mandatory education class through NACA's Raleigh, NC office, but some major city events are posted on their website.

Some brief highlights of the program:

- no minimum credit score
- no down payment = 100% financing
- no closing costs, points, closing fees (note: there is a membership fee,
but it's fair considering what they get)
- at/Below Market Interest Rates
- no mortgage insurance
- no perfect credit required
- no income requirement
- no area / county / location requirement
- purchase price max for the Triangle is $200,160

Judy
www.seejudy.com
MY FEATURED LISTINGS

Judy Weinstock, REALTOR®
ABR, CRS, GRI
MY FEATURED LISTINGS

The Judy Weinstock Team at Keller Williams Realty
1516 East Franklin Street
Chapel Hill, North Carolina 27514
888 SEE JUDY (888.733.5839)
www.seejudy.com

PITFALLS OF OVERPRICING YOUR HOME TO SELL

Tue, 04 Aug 2009 13:44:41 -0500

Buyers seldom look at only one house, and often spend weeks and months comparison shopping. If your property is overpriced relative to your competition, the following unfavorable results may occur.

Properties receive the best response from agents and buyers when first listed. An overpriced property goes stale in the first weeks on the market, and not even a later price reduction will rekindle the original interest.
Real estate agents who are sensitive to buyers' request will not show property priced over an amount the buyer can afford. Overpriced properties will not be shown to prospects who would otherwise be interested if the property were competitively priced.
Buyers may not want to look at property priced higher than the competition, even though it is an otherwise attractive property.
Overpricing leads to additional time needed to sell the property.
When a property is on the market for an unusually long period of time, an offer finally received may be lower than if the property were priced competitively in the beginning. Buyers may feel that the seller is getting discouraged with the marketing process and will accept any "offer."
Appraisers may have difficulty justifying price and lenders are often reluctant to give a loan commitment for property that has sold for substantially more than comparable sold properties.
A house realistically priced and properly marketed from the beginning affords the seller the best opportunity to maximize his profits. Don't miss your prime marketing period by setting a price higher than justified by the CMA- Comparative Market Analysis. You risk the possibility of having it sell for even less later on.

-JUDY
www.seejudy.com

Judy Weinstock, REALTOR®
ABR, CRS, GRI
MY FEATURED LISTINGS

The Judy Weinstock Team at Keller Williams Realty
1516 East Franklin Street
Chapel Hill, North Carolina 27514
888 SEE JUDY (888.733.5839)
www.seejudy.com

Move-in-Ready Ranch

Thu, 23 Jul 2009 05:44:46 -0500

Judy Weinstock, REALTOR®
ABR, CRS, GRI
MY FEATURED LISTINGS

The Judy Weinstock Team at Keller Williams Realty
1516 East Franklin Street
Chapel Hill, North Carolina 27514
888 SEE JUDY (888.733.5839)
www.seejudy.com