RENT TO OWN HOMES. Learn how to lease purchase a home. - 10/27/10 08:41 AM
If you are looking to rent to own a home, here are some tips to get you started.The first step: Get Prequailified...It is a good idea as the first step, to get prequailified. Meet with a local and trusted bank or mortgage company. Stay away from internet lenders. You need to find out how long it will take you to get a mortgage so you know how long of a lease your need. As well as what you will need to do to be quailified by the time that lease is up. You can get prequailified at no cost at most trusted … (1 comments)

ARE OPEN HOUSES WORTH IT ANYMORE? - 10/27/10 08:06 AM
Are open houses worth the agents time and will they bring about a buyer?I am often asked if holding an open house at a listing will help bring about a quicker sale or mor epotential buyers.The answer is not so black and white, It really depends on what type of home and in what type of area you are in. For new construction, open houses are a must. For existing homes in not in an area that attracts a large drive by audience, open houses are just not worth the time and effort. More open house snow than ever are ending … (4 comments)

Will a bank postpone a foreclsoure auction if i sign a contract to sell my home via a short sale? - 10/25/10 04:39 PM
This afternoons question is: "Will a bank postpone a foreclsoure auction if i sign a contract to sell my home via a short sale?"
The first thing you have to know is the foreclosure department and the home retention or short sale departments work independantly of each other, in simple terms the left hand may not know what the right hand is doing. It is important you speak with the short sale department and ask them to get a postponement in writing, you may also want to call collections department and let them know about the short sale to seek … (0 comments)

IS A LISTING PRICE ON A SHORT SALE BASED ON WHAT THE SELLER OWES? - 10/25/10 08:55 AM
This Morning's question of the day is : IS A LISTING PRICE ON A SHORT SALE BASED ON OR AFFECTED BY WHAT THE SELLER OWES?The most simple of answers is the market value of a home listed as a short sale should not be affected by what the home owner owes. The listing price of a short sale should be priced at what the current market value of the property is.  The listing agent should complete a Broker Price Opinion that will show what the value is based on sales within the last 3 months andthe prices of what similar homes are currently listed … (7 comments)

NEW UNEMPLOYMENT RATE FOR SEPTEMBER OUT - WHAT DOES IT MEAN? - 10/25/10 08:41 AM
The new unepmloyment rates for New Hampshire and for the country are out and they are good news for New Hampshire as things remain the same at the national level. New Hampshire's rate for September (seasonally adjusted rate was 5.5%) while the unadjusted rate was 5.1 %) for New Hampshire while the national number remained close to the same at (9.6% seasonally adjusted and 9.2%  when not adjusted seasonally).The rate in New Hampshire is down .2% from September and down 1.2% from this time last year. What does all this mean you ask? For New Hampshire it means the economy continues to … (1 comments)

CAN I SELL MY HOUSE VIA A SHORT SALE TO A FAMILY MEMBER? - 10/24/10 07:50 PM
Todays question is one of the most common ones coming in to me lately. 'Can i sell my home via a short sale to my spouse, kids or relative?" The most common answer is not in all cases. The reason is most banks will ask the home owner who is on the mortgage to sign an affadavit that they are not selling to a spouse, relaitive or family member.The person to ask is the person a home owner hires to conduct the short sale on their behalf. The home owner can also contact the home retention department for a list of any … (3 comments)

AGENTS Do you attend your home inspections either as a Listing Agent or Buyer Broker? - 10/20/10 09:13 AM
I entered into a spirited debate with another agent over the question "Do you attend your home inspections either as a Listing Agent or Buyer Broker?".   I need to know what you think.As a listing agent i think it is important to attend the home inspection. You want to be there to see first hand anything that inspector may find, see how bad it is, if it can be fixed, how much to be fixed and the reaction of the buyer or their agent if this may become a problem. You can then contact the seller before getting that dreaded home … (25 comments)

WHERE DO I IS START IF I WANT TO GET A MORTGAGE? - 10/20/10 09:01 AM
One of the most common questions i have been asked recently is, WHERE DO I IS START IF I WANT TO GET A MORTGAGE?The first thing any potential buyer needs to do when they start thinking they want to buy a home, is to contact a local and trusted mortage broker, bank or credit union. STAY AWAY from the internet lenders. You really want to be able to put a face to a voice and have a local source to be able to get information and drop off any paperwork or financials. A good local loan officer will pre-qualify you at … (0 comments)

HOW LONG SHOULD I WAIT TO REDUCE MY LIST PRICE FROM THE LAST TIME I REDUCED IT? - 10/20/10 08:40 AM
Recently a question was asked HOW LONG SHOULD I WAIT TO REDUCE MY LIST PRICE FROM THE LAST TIME I REDUCED IT? Simply put there is no set time, but is something you need to do at once. You need to first assess what the value of your home is in todays market either by a Brokers Price Opinion (BPO)  or an appraisal. WHAT IS A BPO?A BPO will look at homes that are similar in style, age, size and condition that have sold within the last 3 months in your area. If there are few home sthat have sold in the last … (3 comments)

I GOT AN OFFER ON MY HOUSE. NOW WHAT? - 10/17/10 10:10 AM
This Mornings question is "My home was listed less than 2 weeks ago, i have an offer but it is lower than my asking price. What should i do?" The first thing you should do i be happy you received an offer where many houses are not even receiving showings.Hopfully you at BPO or appraisal on your home and set your asking price at or just below market value. You can never use a straight percentage of how much less than an asking price you should accept. Only you know what you need to sell your house for to move on, … (4 comments)

WHEN IS THE RIGHT TIME OF YEAR TO SELL? - 10/16/10 08:48 AM
One of the most common questions form home owners is "When is the right time of the year to sell?"  and "Is there one time of the year that is better than another?"The first answer is that there are more buyers looking in the spring and summer, especially in the northern states where cold weather and snow disrupt our selling season. So listing early in the spring will subject your listing to more potential buyers than listing in the late fall or winter. On the other side more people place their homes for sale in the spring and summer so there is … (2 comments)

Preforeclosure deals - Are they for you? - 10/16/10 08:37 AM
PRE FORECLOSURES ARE SIMPLY THAT, A HOUSE ENTERING INTO THE FORECLOSURE PROCESS...are they a deal?Well If you are looking to buy one, you need to know some things...One of the biggest myths in foreclosures is "getting a deal on a preforeclosure". Let me tell you why, most houses are not even for sale, most home owners owe more than the house is worth in todays market and unfortanately if in a preforeclsoure situation, there is not enough time for them to complete a short sale.
One of the most important things when buying a home is to have a willing seller, … (0 comments)

HOW TO USE THE FORECLOSURE MORATORIUM TO SAVE OR SELL YOUR HOME - 10/15/10 08:54 AM
One of the most common questions is "If i am behind in my mortgage, how will this moratorium in foreclsoures affect me? What can i do? The first thing you need to know is there is not a moratorium with all banks and there is not a moratorium in all states. The states that require judicial review for a foreclosure meaning the bank needs to go before a judge to get approval to foreclose, have been halted, but in those states like NH, foreclosures have not been halted.What this has done is given home owners the opportunity to work with their bank for … (0 comments)

WHY PURCHASE USING CASH WHEN INTEREST RATES ARE SO LOW? - 10/15/10 08:39 AM
Todays question was from a potential buyer wondering why a buyer would purchase using cash rather than just getting a mortgage as interest rates are so low. The top reasons are speed of the transaction and ability to purchase properties where mortgages can not be obtained on them as they may need too much work.  With cash the buyer can close in 7-14 days as opposed to a 45 day average for obtaining a mortgage. Sellers will usually choose cash offers over an offer with contingincies as the cash sale is final, the buyer has no contingincies and the seller has … (0 comments)

THE PROBLEM WITH LOCKBOXES - OR IS IT THE AGENTS? - 10/13/10 12:19 PM
A common problem that has recently gotten worse with the increase in vacant listings is the lockbox. Agents are taking it upon themselves to go into houses without contacting the listing agent. Some are so bold to give the codes to their buyers while others cant seem to remember to put the keys back.Just becuase the home is vacant does not mean it does not deserve the same care and diligence you would give to an occupied house. It actually should require a higher degree of attention by that agent going into that house. It is respect, respect for the listing agent, respect for the … (6 comments)

BANK ADDENDUMS ON REO SALES - WHAT YOU NEED TO KNOW! - 10/11/10 05:21 PM
One of the most confusing part of a sale involving an REO (Bank owned home) is the banks disclosure addendums. With a bank owned home, your offer is usually presented to the listing agent in your standard purchase and sales agreement. That offer is loaded into that banks system by the listing agent. if the offer is accepted, the bank will then send their version of the seller addendum or seller disclosure. They can range form 2 pages to 24 pages. They bascally outline the terms of the sale and include any state and federal disclosures that all basically state the property … (0 comments)

WHAT EXACTLY IS A LOAN MODIFICATION AND HOW CAN IT HELP ME? - 10/11/10 09:26 AM
This morning a home owner writes in "WHAT EXACTLY IS A LOAN MODIFICATION AND HOW CAN IT HELP ME?" In simple terms a  loan modifcation is when teh bank rewrites the terms of your mortgage "modifying" things such as interest rate, monthly payment, the balance you owe or changing it from an adjustable to a fixed rate mortgage.Most commonly needed if you find yourself having difficulty making yoru current payment amount, if you owe more than house is currently worth or if your house is an adjustable and has adjusted upward raising your monthly payment. If you fall into these or similar categories, your … (2 comments)

THE MEDIA SAYS SALES ARE DOWN - BUT I NEED TO SELL - WHAT CAN I DO? - 10/11/10 09:06 AM
This morning's question comes from a homeowner who is being relocated for their job. They wrote " Everywhere i look or read the stats say home sales are down, I need to sell my home, how can i succeed?'No matter what state you live in, total sales may be lower in some areas for this year from past years. However there are sales. Houses are selling. There are buyers who are ready, willing and able to purchase a new home. You should first enlist the services of a listing agent in your area.  The key is listing your house at or just below market market … (2 comments)

BPO'S GONE WRONG! Stories you need to read to believe. - 10/10/10 07:01 PM
If you complete BPO's maybe you can relate to what happens during the journey to get these BPO;s completed. if you do not complete them or have just started, you can learn from my experiences. The most common Broker Price Opinion is called the driveby. it where you drive by the house, take a picture of the front, side, address and of the street. While doing this you need to assess if the house is occupied ior vacant and any damage that can be seen from the road. In theory this sounds like an easy task, right? I try and complete 2-4 BPO's … (8 comments)

TRUTHS AND MYTHS OF THE FORECLOSURE MORATORIUM. WHAT YOU NEED TO KNOW - 10/09/10 10:33 AM
It is the lead story in the news, i have been flooded with questions regarding this matter. The number one question from buyers and home owners is "How will the moratorium on foreclosures affect me?"The situation we face of banks not reviewing the foreclosure affadavits was not done by all banks or on all loans. There are only 3 banks that have put in self imposed moratoriums to stop new foreclosures until they can institute a policy to insure 100% compliance. There are other banks that have played by the rules as well as banks who use asset management companies to … (2 comments)

SO YOU WANT TO BUY A SHORTSALE? ADVICE AND TIPS YOU NEED TO BE SUCCESSFUL - 10/09/10 09:51 AM
One of the most asked questions is HOW DO I MAKE AN OFFER ON A SHORT SALE AND HOW CAN I HAVE A CHANCE IN GETTING IT ACCEPTED? Buyers and their agents often ask why wasn't this offer accepted and why did it take so long. First there is no law that states the bank has to complete a short sale, they only lose money and make it as hard as possible. While that is the thought of most, if submitted correctly, you have a very good chance of making it work and if submitted incorrectly or missing anything, you may be doomed … (1 comments)

City offering free waste disposal of hazzardous items - 10/06/10 12:24 PM
Saturday Oct. 9, 2010 the City of Manchester NH will be offering free waste disposal at the transfer station between 9am and 2pm. You must provide proof of residency and will be allowed up to 10 gallons of liquids or 20 lbs of solids. you can bring paints, stains, sealants, most pesticides, cleaning products, poisons and pharmaceuticals. liquids should be in containers no larger than 5 gallons and be labeled.Updated Oct. 6, 2010Blog written by:Scott GodzykGodzyk Realty GroupManchester NHwww.ScottSellsNH.com
… (1 comments)

NOW HIRING... Work 10 times as hard for half the pay. - 10/06/10 09:20 AM
I have read countless articles and blogs where agents and brokers are standing up and denouncing banks and mortgage companies. Agents are asking how anyone can complete bpo's and how anyone can take bank owned listings...Unfortanately the majority of homes that ARE selling are bank owned homes. In order to get bank owned listings from the majority of banks you need to complete BPOS's in order to get them. The problem is to stand up on a soapbox and declare all bpo or reo agents as evil as the bank is not right. I know if i dont take that bpo order or if … (2 comments)

PRICE FOR A FIXER UPPER VS A HOUSE ALREADY FIXED UP. - 10/05/10 09:01 AM
This mornings question is "What is the difference in price from a home that was repaired versus a home that needs work that is being sold as is?" It comes from the responses of buyers who were looking at bank owned homes, the most common response is "It needed too much work". WHO PRICED THESE HOMES?When pricing a home whether bank owned or owned by a private seller, that homes value is assessed using size, condition, neighborhood and amenities or upgrades in that home. It is only natural that a house that needs more work would be priced much less than … (4 comments)

SHOULD I BUY A HOME THIS FALL OR SHOULD I WAIT? - 10/05/10 08:37 AM
One of the most asked questions as of late is " SHOULD I BUY A HOME THIS FALL OR SHOULD I WAIT?" One answer may not be correct for all potential buyers, for some this is the greatest buyer opportunity in a long time, for others it may not be right and they should wait. The right answer if now is right to buy, is whenever YOU are ready. You are ready when you find what suits you and your family, you find what you like and find it at a price that is right for you. The KEY is that … (3 comments)

WOULD YOU SHOW A HOUSE TO A BUYER WHO WAS NOT PREQUAILIFIED? - 10/03/10 08:25 AM
This morning's question is "Would you show a house to a buyer who was not prequailified?"Every agent faces this problem and most handle it differently. From sellers who demand all buyers are prequailified to agents who make it part of their practice to only show homes to buyers that have been prequailified. This leads us to the second question of 'How do you ask the buyer without upsetting them?I make it part of my routine:Are you working with a loan officer yet? If yes... Do you mind if i ask with who? Did they prequailfy you? If no ...I work with … (13 comments)

 
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Scott Godzyk, One of Manchester NH's Leading Agents

Manchester, NH

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Godzyk Real Estate Services

Address: pob 4783, Manchester, NH, 03108

Office Phone: (603) 661-2121

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Scott Godzyk is the Owner/Broker of The Godzyk Real Estate Services located in Manchester NH. With 25 years of Real Estate experience Scott specializes in Listing and Selling Bank Owned Homes, Short Sales, Residential Properties, Condominiums, New Construction and Investment Properties. Scott services the counties of Hillsborough, Merrimack, Rockingham and Belknap. To contact Scott Godzyk please call 603-661-2121 or email sctprop@aol.com. his website is www.ScottSellsNH.com.


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