Tony's Blog

Dual Agency - What Side of the Fence are You On?

Tony Olmi, Qualifying Broker, SRES, EMS (La Entrada Realty) — Thu, 23 Apr 2009 08:18:10 -0500

In New Mexico the question of Dual Agency begins with the definition of Agency and its ramifications and responsibilities. There is a BIG difference with Agency and Transaction Broker. I don't like Agency whether single or Dual. I work as a Transantion Broker with all of the proper disclosures provided by our State Association. Many buyers come directly to the Listing Agent for any number of reasons. Ultimately it is about professionalism, fairness, and Disclosure, Disclosure, Disclosure!! After all we are not, unlike attornies, intended to imbarke on adversarial and litigious deeds. First and Foremost we are Servants striving to meet wants and needs of the parties and bringing trasactions to a successful conclusion. That is how we earn our daily bread and our respect!!

Via Connie Goodrich, CRS (McKinney Realtor) Texas (Keller Williams Realty):

When you list homes and work with buyers the opportunity on occasion will present itself, both sides of the transaction. Such is the case for me, I have a home listed and received a sign call that developed into an interested buyer. What a fantastic opportunity but one that needed to be treated with caution.

In the state of Texas we have the ability to work on both sides of the transaction through what is defined as Intermediary Relationship. There are many responsibilities of this relationship but one clear defining line; you must act as a mediator for both parties, no advice regarding negotiation decisions. You also cannot share any confidences and you must respect the price the seller has the home listed with no suggestion of the value being less. All parties must agree to this relationship and advised of their other representation choices (buyer & seller agents).

This is a very difficult balance responsibility when you are on both sides of the transaction. As an agent you have a responsibility to self reflect as to your comfort, knowledge level, ability to strictly adhere to the responsibility of this type of agency. Also this is probably one of the top reasons lawsuits develop over this form of agency and the perception of how the agent professionally handled the transaction.

Initially when the opportunity knocks you feel a moment of celebration, commission counting in your head, etc. Step back and reflect ... are you informed and experienced enough to properly handle this type of transaction? If there is any moment of a deep breath and hesitation then you best refer one of the parties to be independently represented by another agent. Make sure both the other agent and the party interview each other for comfort and acceptance. Sometimes that separation of relationships is absolutely the right thing to do. Also you need to keep your broker in the loop for counseling, appointment of other agents, etc.

Understand what your state law allows, what your agency stance for what agency types are permitted and become very well informed and comfortable with your professional responsibilities. This is a very sensitive and debated topic in our state for a good reason ... watching out for the best for our consumers.

What side of the fence do you feel is best or are you in the middle?

Should ActiveRain Ban Profanity?

Tony Olmi, Qualifying Broker, SRES, EMS (La Entrada Realty) — Sun, 12 Apr 2009 17:42:33 -0500

I had an office mate in a real estate office who could not complete a sentance without using profanity. From time to time he would mention my personal religious beliefs and kindof aplogize. I basically told him that regardless of my own beliefs I thought that a professional with a college degree should have a broader vocabulary and the words he used didn't properly describe property or the services he could provide. Ultimately his low level of production reflected his low vocabulary and high use of profanity.

Via John Novak - Las Vegas and Henderson NV Real Estate (Keller Williams Realty The Marketplace):

Maybe I've just been catching ActiveRain at the 'right' time lately, but it seems that there is more and more profanity creeping into posts and comments. Initially I thought this would be addressed by AR's Terms of Service or the Guidelines. Seeing no mention there, I reasoned that maybe the AR Team considered this a free speech issue because this site is essentially a public forum.

How do other social media sites address this issue? In the Facebook Terms of Use, users agree not to:

"upload, post, transmit, share, store or otherwise make available any content that we deem to be harmful, threatening, unlawful, defamatory, infringing, abusive, inflammatory, harassing, vulgar, obscene, fraudulent, invasive of privacy or publicity rights, hateful, or racially, ethnically or otherwise objectionable"

LinkedIn's User Agreement says:

"don't upload, post, email, transmit or otherwise make available or initiate any content that is unlawful, libelous, abusive, obscene, discriminatory or otherwise objectionable"

Twitter takes a slightly different approach in their Terms of Service:

"We may, but have no obligation to, remove Content and accounts containing Content that we determine in our sole discretion are unlawful, offensive, threatening, libelous, defamatory, obscene or otherwise objectionable or violates any party's intellectual property or these Terms of Use."
Should ActiveRain ban profanity? | BuzzDash polls

Exactly how big of an issue is this on ActiveRain? Do a search for any common obscenity and you may be suprised at the results. While a majority of these are found in non-member comments, there is still a sizable amount in member's posts.

The line between ActiveRain being a real estate network and a social network is blurred, and is different for everyone. How far should we pull back the curtain to let people see us as we really are? For each member, that answer is unique.

What the ActiveRain Guidelines do say is this:

We encourage free speech and defend everyone's right to express unpopular points of view. But we don't permit hate speech, which contains slurs, or the malicious use of sterotypes intended to attack or demean a particular gender, sexual orientation, race, religion or nationality ...

... Let ActiveRain staff and other members know what you are thinking. Member feedback is essential to our continued growth and development.

Should ActiveRain ban profanity? My answer is Yes. I think eliminating profanity will present a better overall image of our community. If someone can't express a thought or emotion without profanity, then they're probably not that good of a writer to begin with. That's my personal view. Whether or not the AR community or individual members agree with it, I can still vote with my mouse to read or not read a post. Consumers can vote with their wallets by working or not working with an agent.

"Let ActiveRain staff and other members know what you are thinking." Take the poll, and leave your thoughts in the comments. Should ActiveRain ban profanity?

(Reminder: Although there may be strong feelings on both sides of this topic, remember to discuss the issue, and not particular individuals or posts.)

Bernalillo

Tony Olmi, Qualifying Broker, SRES, EMS (La Entrada Realty) — Sat, 23 Feb 2008 19:26:24 -0600

La Entrada Realty
Gateway to Bernalillo Real Estate and the magnificent Southwest!

Bernalillo

Bernalillo is a smaller town origionally located on the east side of the Rio Grande. In the last few years its growth has taken it the only way it could grow, to the West, and now it appears to be merging with RR. Bernalillo is the county seat of Sandoval County, New Mexico. Bernalillo real estate is north of Albuquerque and east of Rio Rancho. Bernalillo is the historic center of the state of New Mexico with occupation reaching back over a thousand years. Its neighbor to the north is the Santa Ana Pueblo, which is home to the Hyatt Tamaya Resort and golf course, New Mexico's largest soccer complex, and the Santa Ana Star Casino.

Bernalillo also hosts one of New Mexico's finest wine festivals, which is held on Labor Day weekend. Bernalillo real estate offers many non-tract homes in a broad price range. Much of Bernalillo real estate is suitable for horses and farm animals. For Bernalillo real estate check SWMLS area 170.

See Real Estate Listings in Bernalillo
or
Search All Albuquerque Real Estate Listings

Rio Rancho

Tony Olmi, Qualifying Broker, SRES, EMS (La Entrada Realty) — Sat, 23 Feb 2008 19:23:09 -0600

La Entrada Realty
Gateway to Rio Rancho Real Estate and the magnificent Southwest!

Rio Rancho Real Estate is HOT because Rio Rancho is Hot! Rio Rancho, which touts itself as the "City of Vision", is "on the grow". Rio Rancho real estate has caught the attention of investors for many years. However, in the last few years Rio Rancho residential and commercial real estate has experienced rapid appreciation as the city is developing a new downtown, government district, sports arena (Santa Anna Star Center). Both custom and tract housing has been developed. If you missed out on an early investment in Rio Rancho real estate it's still not too late as the city continues its boom. There are several areas that can be searched in SWMLS for Rio Rancho Real Estate. They are 140, 141, 150, 151,152, 160, 161, 162.

Belen

Tony Olmi, Qualifying Broker, SRES, EMS (La Entrada Realty) — Sat, 23 Feb 2008 19:19:08 -0600

La Entrada Realty
Gateway to Belen Real Estate and the magnificent Southwest!

BELEN

Belen real estate is approximately 40 minutes south of downtown Albuquerque, along the east side of the I-25 corridor. Commuting for work to Albuquerque is common, and now more convenient as the New Mexico rail runner makes a stop in Belen. Although Belen is a town in its own right, many people choose to work in Albuquerque and live in Belen because it may be more affordable and is more rural. It is also 45 minutes north of the School of Mines in Socorro, New Mexico. The price of owning Belen real estate can range from under $100,000 up to $500,000. Homes may sit on a few acres, and have irrigation for farming.

There is a sense of community in Belen as it was founded in 1740 by two Spaniards who named it Belen, which is Spanish for Bethlehem. By the 19th century Belen's economy expanded into sheep herding and the town began slowly growing. Some of Belen's real estate includes the Belen hotel which is on historic State and National registers. The land was purchased by Bertha Rutz for $850 where she built a red brick hotel she ran until her passing in 1953. Belen real estate is comprised of a lot of history surrounding the southwest. Nowadays it is still quaint and full of charm. For Belen real estate look up SWMLS area 741.

See Real Estate Listings in Belen
or
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North albuquerque Acres NAA

Tony Olmi, Qualifying Broker, SRES, EMS (La Entrada Realty) — Sat, 23 Feb 2008 19:13:48 -0600

La Entrada Realty
Gateway to North Albuquerque Acres Real Estate and the magnificent Southwest!

North Albuquerque Acres

North Albuquerque Acres real estate (NAA) is an extremely popular and consistently growing area. Residents enjoy the Sandia Mountains in their back yard to the east and the ambiance of the of desert sky to the west. North Albuquerque Acres real estate is part of the northeast heights real estate and runs from as far south as Tanoan Estates to the Sandia Pueblo Reservation buffalo preserve up north, and yes, there is a herd of buffalo.

North Albuquerque Acres real estate gives the sense of rural living as some residents sit on a few acres separating themselves from their neighbors. This is also a horse friendly area. North Albuquerque Acres real estate is also known for its excellent school districts. Almost all homes in North Albuquerque Acres are custom built and absolutely gorgeous. For North Albuquerque Acres real estate check out SWMLS area 20.

See Real Estate Listings in North Albuquerque Acres
or
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Tanoan

Tony Olmi, Qualifying Broker, SRES, EMS (La Entrada Realty) — Sat, 23 Feb 2008 19:09:15 -0600

La Entrada Realty
Gateway to Tanoan Real Estate and the magnificent Southwest!

Tanoan Real Estate

Tanoan is built around one of Albuquerque's finest private country clubs. Located in the Northeast Heights its exclusivity and beauty is only about a mile from the Sandia foothills.

Whether you are in East Tanoan or West Tanoan (separated by Eubank Blvd) you are likely to see residents driving through the neighborhood in golf carts, walking the dogs, riding a bike or enjoying a jog. Tanoan residents appreciate the privacy this gated community offers, the immaculate golf course and the incredible mountain views. Resort style real estate in Tanoan begins in the 200,000 range up to near 1 million. Look in area 30 in SWMLS for Tanoan real estate.

See Real Estate Listings in Tanoan
or
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Corrales, New Mexico

Tony Olmi, Qualifying Broker, SRES, EMS (La Entrada Realty) — Sat, 23 Feb 2008 19:01:46 -0600

La Entrada Realty
Gateway to Corrales Real Estate and the magnificent Southwest!

Corrales

Village of Corrales real estate is a small, treasured oasis located within a large, fast-growing metropolitan area. Corrales real estate is bordered on the east by the Rio Grande and, across the river, by the Sandia Reservation. To the south is the City of Albuquerque while to the west and north is Rio Rancho real estate. You will see residents on horse back or bike riding throughout the Village of Corrales. Corrales was founded in 1712, and incorporated in 1971. Corrales got its name as it was a great place to stop and put livestock in "corrals" before the last leg of the trip to the Albuquerque.

In 2007 Corrales real estate was named #19 on www.cnnmoney.com top 100 places to live list for income brackets, school districts, cost of living, and even though the village is right in the middle of metropolitan life, it is a sanctuary for residents and wildlife alike. A strong sense of community comes with Corrales real estate as it offers country style comfort with the convenience and eclectic culture of neighborhood restaurants, shopping, small farms and a couple outstanding wineries. If you desire country living with convenience visit SWMLS area 130 for Village of Corrales real estate.

See Real Estate Listings in Corrales
or
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Cedar Crest & Sandia Park

Tony Olmi, Qualifying Broker, SRES, EMS (La Entrada Realty) — Sat, 23 Feb 2008 08:53:16 -0600

La Entrada Realty
Gateway to Cedar Crest Real Estate and the magnificent Southwest!

Cedar Crest and Sandia Park Real Estate:

Cedar Crest real estate has a very special appeal to the more mountain type folks who like country, trees, snow and generally more moisture and a more verdant landscape. Being on the leeward side of the Sandias it generally benefits from more precipitation, and consequently, more vegetation. An altitude in access of 7,000 feet ASL hosts an environment friendly to conifers, oak, and wildflowers, and wildlife typical of a mountain environment. This area is also generally cooler year round than is Albuquerque and other lower climes further east on I40 (old Route 66). Cedar Crest real estate resembles more of an Alpine community than the pueblo styles of Albuquerque and even Plactias.

Minutes to Sandia Peak Ski Area, snow recreation in winter and great hiking in summer, are all reasons why people chose Cedar Crest real estate and other communities in the greater Albuquerque area. The smell of wood burning in a fireplace is to be expected year round. Two relatively new developments, PAAKO and San Pedro Ridge Estates in the east mountain area offer quick accesses to downtown Albuquerque and a sort of short cut to Santa Fe. Owning Cedar Crest real estate is like owning access to a piece of Heaven and several of its neighborhoods, like PAAKO and San Pedro Estates, all within just minutes of each other and Albuquerque. Meanwhile, it is gaining more and more of its own amenities and conveniences of town without having to drive there. When searching SWMLS search area 220.

Search for Cedar Crest & Sandia Park Real Estate listings.
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UNM NOB HILL Southeast Heights

Tony Olmi, Qualifying Broker, SRES, EMS (La Entrada Realty) — Sat, 23 Feb 2008 08:40:38 -0600

La Entrada Realty
Gateway to Albuquerque Southeast Heights Real Estate and the magnificent Southwest!

SE Heights/ Nob Hill / UNM

Nob Hill and the South East Heights sum up the history and eclectic style of people brought together by Historic Route 66. It's just east of the University of New Mexico and has the natural influence of college lifestyle with trendy shops and restaurants while maintaining the History of Route 66. With the influx of the movie industry to New Mexico it is likely you might see a celebrity strolling down Central Ave (historic Route 66). The Nob Hill neighborhood is perfect for people who enjoy an urban lifestyle with many businesses and a grocery coop a block or two away. Check out area 71 in SWMLS for Nob Hill real estate.

The picture on the right is at a US vs. Honduras soccer game at the UNM Stadium in Albuquerque, Bernalillo County, NM.

See Albuquerque's Southeast Heights Listings
Or see UNM South
or
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High Desert

Tony Olmi, Qualifying Broker, SRES, EMS (La Entrada Realty) — Sat, 23 Feb 2008 08:21:26 -0600

La Entrada Realty
Gateway to High Desert Albuquerque Real Estate and the magnificent Southwest!

High Desert Albuquerque

Albuquerque's High Desert sits tucked in at the base of the Sandia Mountains and is one of the newest places to own real estate and "have an address". You know you have "arrived" when you can say you own a piece of High Desert real estate. Contemporary southwestern architecture offers luxury living with magnificent views of sunsets, city lights, and towering mountain peaks and ridges. High desert air and cool summer evenings, with a whiff of desert flowers, mingle with scented pinon smoke.

An early morning or evening walk is a great way to start or conclude your day. Within minutes one can be in a canyon amongst ponderosa pines with the breeze blowing through needles and happy birds singing. When searching listings in Albuquerque real estate, select area 31 in your SWMLS search for High Desert real estate. Area 10 offers Sandia Heights real estate, which is immediately adjacent to the north and also a part of Albuquerque's high desert real estate.

See Real Estate Listings in Bernalillo
or
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PAAKO

Tony Olmi, Qualifying Broker, SRES, EMS (La Entrada Realty) — Sat, 23 Feb 2008 08:12:11 -0600

La Entrada Realty
Gateway to Paa-ko Real Estate and the magnificent Southwest!

PAA-KO

Only 25 minutes from Uptown shopping, 45 minutes from Downtown Albuquerque and 40 minutes to Santa Fe, this gorgeous East Mountain community is ideal if you enjoy country style living. Many residents work in Albuquerque and escape in the evenings to the aroma of pinion, sage and the cool mountain air of Paa-koo real estate. Paa-ko is also home to one of New Mexico's most beautiful golf courses with the mountains as its canvas.

Paa-ko real estate is nestled on the east side of the Sandia Mountains just north of Cedar Crest and Sandia Park. The vibrant colors of the New Mexico sunset are the perfect contrast to the large pinions and desert sage making up this serene community. Get swept away in area 220 in SWMLS for Paa-ko real estate.

See Real Estate Listings in Paa-ko
or
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Sandia Heights and the world's longest Aerial Tramway

Tony Olmi, Qualifying Broker, SRES, EMS (La Entrada Realty) — Sat, 23 Feb 2008 08:09:30 -0600

La Entrada Realty
Gateway to Sandia Heights Real Estate and the magnificent Southwest!

Sandia Heights

Sandia Heights boasts and hosts the base of the world's longest aerial Tramway. Sandia Heights real estate was developed in the 1960s and was the first development to introduce the truly exotic and exclusive living 2000 feet above Albuquerque's Rio Grande valley, and Old Town Albuquerque, which sits at about 5200 feet above sea level.

Architectural design of most homes built on Sandia Heights' premium real estate usually takes advantage of seventy miles of westerly views and the immediate 3000 ft rise of the Sandia Mountains and the top of the Tram from their eastern facing windows and decks. Sandia Heights real estate typically holds its values and actually leads in appreciation and desirability. Pinon, scrub oak and High Desert flowers and fauna along with mountain wildlife grace Sandia Heights real estate. Look in area 10 in SWMLS for Sandia Heights real estate.

See Real Estate Listings in Sandia Heights
or
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Retiring Soon & Downsizing?

Tony Olmi, Qualifying Broker, SRES, EMS (La Entrada Realty) — Fri, 15 Feb 2008 05:06:43 -0600

Real Estate Corner…

Q. I am retiring soon and my wife and I would like to “downsize” our residence so we can spend less time maintaining a home and more time traveling. We are thinking about purchasing a townhouse or condominium. What should we know before we buy?

A. One of the main items to consider is the difference in property boundaries. The home you have now is a single family detached residence. You are the exclusive owner of the structure and the property it’s located on. The external property boundaries separate what belongs to you from your neighbors. If you choose to buy an attached dwelling such as a townhouse or condominium, you acquire exclusive ownership rights to the interior space of your particular unit. You also become a co-owner of common area grounds, fences, shared walls, and facilities (such as swimming pools) with other owners in the condo or townhouse development. As an owner, you will automatically become a member of a homeowner’s association that will require you to pay dues, usually on a monthly basis. These dues usually cover the cost of maintaining and insuring areas of common ownership. The cost and coverage varies from one development to the next, so be sure to find out before you buy. Planned Unit Developments are governed by Covenants, Conditions, and Restrictions (CC&R’s) that will restrict your ownership rights. For example, the CC&R’s may not allow pets in the complex. It is also common to have restrictions on parking, renting, and remodeling. Make sure you understand the content and limits of the CC&R’s. If necessary, have an attorney review them before any purchase in the complex. Is an over 50 community for you? What other Lifestyle enhancements (eg. social) are being offerred?

It is also wise to ask friends, family, and your realty professional for attorneys they trust. If you are in the market for a home and need a competent and caring Seniors Real Estate Specialist (SRES), please call me at 505-410-0724

Paying Off Your Mortgage Fast Without Significantly Changing Your Lifestyle

Tony Olmi, Qualifying Broker, SRES, EMS (La Entrada Realty) — Sat, 09 Feb 2008 18:33:36 -0600

Q. I am thinking of refinancing my home to take advantage of lower interest rates but I want to shorten the mortgage loan length. What are my options?

A. Refinancing a 30-year mortgage doesn't necessarily require that you commit to paying for another 30 years. You can substantially shorten your repayment period by paying just a little extra each month or each year.

For example, let's look at a $150,000 loan made at 7 percent interest. A

30-year amortization will give you a monthly payment of $997.95, and you will pay $209,263 in interest over the term of the loan. However, if you increase your payment about $165 per month (to $1,162.95), you can pay off your loan in

20 years, and you'll pay $129,108 in interest over the term of the loan - an interest savings of over $80,105 (money that could be invested). Increase your payment to $1,348.24 (just another $185 per month) and you'll pay off the very same loan in just 15 years, with accumulated interest paid of $92,684 - an interest savings of another $36,424.

You may want to search out lending institutions that have special interest saver programs. If you agree to an early repayment schedule you are also more likely to qualify for refinancing. Try going for a 30-year mortgage and set up your amortization schedule for 26 years (An amortization schedule is a list of regular equal payments that will pay off your debt in a specified period.).

If you make the decision to add to your payments so you can pay off your mortgage by a specific date, it's a wise idea to check with your mortgage servicing company to find out if you are paying the correct extra amount. Also, make sure there are no prepayment penalties in your note. If you are thinking of selling or buying soon, and require competent and caring representation, please call me at 505-924-1031.

However, If you think this is good, I've got something even better.....Itr is called a Money Merge Account. Ask Me!!!!!!!!!!!!!

Home Safety for Seniors

Tony Olmi, Qualifying Broker, SRES, EMS (La Entrada Realty) — Mon, 17 Dec 2007 08:28:28 -0600

HOME SAFETY FOR SENIORS

Provided by Visiting Angels Senior Care and La Entrada Realty

Have you been winterized?

*Had your Flu shot & Prescriptions filled? *Stored healthy food in your home? *Handy list of emergency numbers? *Furnace inspected for Carbon Monoxide? Snow shovel, sidewalk deicer? *A friend or family member to check in with regularly? *Had your car serviced (gas filled up, anti-freeze, good tread on your tires, wiper blades, lights, etc.)? *Extra warm clothes, blankets, and food in your car?

Safety Tips

BATHROOM: *Leave a light on at night. *Use recommended bath aids, securely installed on the walls of the bath/shower stall and the side of the toilet. *Skid-proof the tub and ensure the bath mat has a non-slip bottom. *Avoid scalds by turning water heater to 120 degrees F or below. *Mark hot and cold faucets clearly. *Use door locks that can be opened from both sides. *If possible, bathe when there is help available. *Never use electrical appliances near water in tub, shower, sink, or other wet areas. Have GFI outlets installed in these areas.

KITCHEN: *Keep floors clean and uncluttered. * Illuminate work areas. *Mark ON and OFF positions on appliances clearly and with bright colors. *Store sharp knives separately to ensure safety. *Use a teakettle with an automatic shut-off. *Store heavier objects at waist level. *Store hazardous items separate from food items. *Avoid wearing loose clothing when cooking over the stove or fireplace. *Clean up spills on floors that may cause someone to slip.

DRUG SAFETY: *Review medications often with doctor and/or Pharmacist. *Be sure YOUR medications are LABELED CLEARLY.

*Read the labels in good light to ensure the right medicine and take the correct doses. *Dispose of any old and/or outdated medications. *NEVER borrow prescriptions from others. *Check with your doctor/pharmacist before missing prescription drugs with non- prescription drugs. *Set up a weekly pill minder to ensure you are taking all your medications at the right time and correct amount.

GENERAL SAFETY TIPS: *Keep fire extinguisher and smoke detector on every floor. Seek an expert assessment. *Always get up slowly after sitting or lying down. Make sure you have your balance. *Wear proper fitting shoes with low heals. *Use a properly measured walking aid. *Remove electrical and phone lines from traffic areas. *Avoid using slippery wax on floors. *Avoid standing on ladders and chairs. *Don't be afraid or too proud to ask for help! *Have sturdy rails for ALL stairs inside and outside the home with good lighting and switches at top and bottom. *Staircases & steps should have non-slip surfaces. *Is your furniture or other clutter in the way? *Be careful of pets getting underfoot or jumping.

Please add to these tips and share them with family & friends.

Please BE SAFE!!

NOTE: This list of "suggestions" has been compiled from personal observations and other sources. They are not intended to be all-inclusive. Professionals, in their area of "expertise", should ALWAYS be consulted. Have family & friends help you with a "safety audit".

In the Albuquerque Area contact Visiting Angels Senior Care today for your Free Consultation and In-home Assessment! (505) 821-7500

Tony Olmi, Broker

(SRES) Seniors Real Estate Specialist®

La Entrada Realty (505) 924-1031

tonyolmi@msn.com

www.TonyOlmiRealtor.com

Home Safety for Seniors

Tony Olmi, Qualifying Broker, SRES, EMS (La Entrada Realty) — Wed, 28 Nov 2007 20:51:56 -0600

HOME SAFETY FOR SENIORS

Provided by Visiting Angels & La Entrada Realty

Have you been winterized?

Had your Flu shot & Prescriptions filled? Stored healthy food in your home? Handy list of emergency numbers? *Furnace inspected for Carbon Monoxide? Snow shovel, sidewalk deicer? A friend or family member to check in with regularly? Had your car serviced (gas filled up, anti-freeze, good tread on your tires, wiper blades, lights, etc.)? Extra warm clothes, blankets, and food in your car?

Regular Safety Tips

BATHROOM: *Leave a light on at night. *Use recommended bath aids, securely installed on the walls of the bath/shower stall and the side of the toilet. *Skid-proof the tub and ensure the bath mat has a non-slip bottom. *Avoid scalds by turning water heater to 120 degrees F or below. *Mark hot and cold faucets clearly. *Use door locks that can be opened from both sides. *If possible, bathe when there is help available. *Never use electrical appliances near water in tub, shower, sink, or other wet areas. Have GFIs installed in these areas.

DRUG SAFETY: *Review medications often with doctor and/or Pharmacist. *Be sure YOUR medications are LABELED CLEARLY.

*Read the labels in good light to ensure the right medicine and take the correct doses. *dispose of any old and/or outdated medications.

*NEVER borrow prescriptions from others. *Check with your doctor/pharmacist before missing prescription drugs with non- prescription drugs. *Set up a weekly pill minder to ensure you are taking all your medications at the right time and correct amount.

KITCHEN: *Keep floors clean and uncluttered. * Illuminate work areas. *Mark ON and OFF positions on appliances clearly and with bright colors. *Store sharp knives separately to ensure safety. *Use a teakettle with an automatic shut-off. *Store heavier objects at waste level. *Store hazardous items separate from food items. *Avoid wearing loose clothing when cooking over the stove or fireplace. *clean up spills on floors that may cause someone to slip.

GENERAL SAFETY TIPS: *Keep fire extinguisher and smoke detector on every floor. Seek and expert assessment. *Always get up slowly after sitting or lying down. Make sure you have your balance. *Wear proper fitting shoes with low heals. *Use a properly measured walking aid. *Remove electrical and phone lines from traffic areas.

*Avoid using slippery wax on floors. *Avoid standing on ladders and chairs. *Don't be afraid or too proud to ask for help! *Have sturdy rails for ALL stairs inside and outside the home with good lighting and switches at top and bottom. *Staircases & steps should have non-slip surfaces. *Is your furniture or other clutter in the way? *Be careful of pets getting underfoot or jumping.

Please add to these tips and share them with family & friends.

NOTE: This list of "suggestions" has been compiled from personal observations and other sources. They are not intended to be all inclusive. Professionals, in their area of "expertise", should ALWAYS be consulted. Have family & friends help you with a "safety audit".

Please BE SAFE!!

Call Visiting Angels Today for your Free Consultation and Assessment! (505) 821-7500bu

Tony Olmi, Broker

(SRES) Seniors Real Estate Specialist

La Entrada Realty (505) 924-1031

What is the best time of year to sell my home?

Tony Olmi, Qualifying Broker, SRES, EMS (La Entrada Realty) — Thu, 22 Nov 2007 10:27:54 -0600

Real Estate Corner...

Q. What Is The Best Time Of Year To Sell My Home?

A. A common belief is that spring is the best time to sell your home. After all, the lawn is green, flowers are in bloom, and most homes show well in full sunlight. Even though many buyers may be out in the good weather, you should consider some other factors.

Sellers thrive when there is less competition from other comparable listings. When there are fewer homes for sale in your price range, then buyers have fewer choices. In many cases, the buyer will compromise and purchase a home that doesn't quite meet their exact specifications. This will work in your favor.

Consider listing your home from middle to late winter. This can be a great time to sell, especially if interest rates are low. Normally the inventory of homes for sale goes down substantially in December as people get wrapped up in holiday preparations. Sellers who list their homes in January and February often find the market wide-open with little competition.

Even though a lot of competition isn't great for the seller(s), a little competition doesn't hurt either. The buyer will have a chance to comparison shop in a field of homes of similar price range. It may be much easier for buyers to make a firm decision in your favor after they have viewed several other homes that didn't measure up to the price, value, and specifications of your home.

It's also useful to track how many homes similar to yours have come on the market in your area. Make a simple spreadsheet and plot out listings for the past week, the past month, and maybe a three-month span for a thorough look. This will give you a healthy "reality check" about your competition in the market. If you are considering selling your home and would like this analysis done for you, please call me at 924-1031.

Co-Signing on the loan.

Tony Olmi, Qualifying Broker, SRES, EMS (La Entrada Realty) — Sun, 04 Nov 2007 22:46:33 -0600

Real Estate Corner...

•Q. Our daughter and her husband want to buy a home, but recently asked us to "Co-Sign" on the loan. What are the consequences of this action?

•A. There's nothing wrong with helping a family member or close friend with buying a home. However, co-signing on a loan should be done with great care and knowledge of the consequences. Co-signing means that you are extending your personal credit for the benefit of someone else. Problem is, if the borrower defaults, the lender will look to you for full repayment. So you're not really a co-signer, you're a co-debtor. Here are a few tips that may prove helpful when co-signing:

•w Although you're co-signing, make sure your co-borrower is putting cash into the transaction. The more they put in, the lower your risk.

•w Obtain a credit report on the person you're co-signing for, even if it's another family member. If they've defaulted on other debts, there's a good chance they'll default on the debt you're co-signing.

•w Ask the lender to release you from the loan when the principal balance is reduced to a certain amount.

•w Examine how your credit rating and ability to borrow will be impacted. Co-signing on a loan can sometimes impact your ability to get financing if you need it.

•w Make sure you're name is listed on the deed as a co-owner. If you're on the deed, and if you make any cash contributions, you may be able to deduct mortgage insurance, property taxes, and a pro-rata portion of interest you pay. Ask your accountant or tax planner.

•w If the home is sold, will you share in any appreciation or gain in value?

If you're considering buying or selling real estate soon, and you need competent and caring representation, please call me at 410-0724.

The offer

Tony Olmi, Qualifying Broker, SRES, EMS (La Entrada Realty) — Sun, 04 Nov 2007 22:44:14 -0600

Real Estate Corner...

•Q. We have our home for sale and recently received an offer from a buyer. Problem is, the offer isn't quite what we wanted. What should we do?

•A. The first thing you should do is analyze the offer carefully with your agent. Here's why. Sellers frequently examine just one or two parts of an offer: price and financing. While these items are important, there may be other areas that can make the offer either more or less attractive. These include: earnest money, down payment, interest ceiling (the highest rate buyers will pay for new financing), closing costs, financing time limit, closing date, type of financing, personal property contained in the offer, and any contingencies related to the offer. By examining the offer with your agent, there are three actions you can take:

First, you can accept the offer as is. If you do this, you have a binding agreement.

Second, if the offer is totally unsatisfactory, you can, of course, reject it altogether. This option closes the door on the offer. Sometimes it's the right action, but I would suggest the third alternative.

Third, make a counter-offer. If everything is satisfactory except the price, for example, you can ask for more and submit the counter-offer back to the buyers. Or, if there are other elements of the offer you want to counter - say, for example, they want to close in two weeks - you can ask for a month.

Keep in mind that an offer you have in hand will be binding as soon as you've signed it. Any changes you make to the offer will require the buyer to initial or sign it again. If you're thinking of buying soon, and require competent and caring representation, please call me at 505-410-0724

Focusing on areas of your home to maximize value.

Tony Olmi, Qualifying Broker, SRES, EMS (La Entrada Realty) — Sun, 04 Nov 2007 22:34:36 -0600

Real Estate Corner...

•Q. What Areas Of My Home Should I Focus On To Protect My Investment And Maximize Its Value?

•A. There's no doubt, your home is a substantial investment. So it makes sense to protect it to maximize its value. One way to do this is with regular maintenance. While many homeowners keep their homes spotless on the inside, they may not be aware of what needs to be done to the exterior or "structural" areas of their home. Here's a quick checklist of items you should inspect and maintain every six months.

•ü Your Roof. Climb up and look for damage. Flat roofs frequently show soft spots, or areas where there may be ponding - signs of potential leaks. Pitched roofs should be inspected for roof tiles and seams. If you see a crack or problem, fix it immediately.

•ü Your Mechanical System. Mechanical systems include your heating and air conditioning systems. Heating systems should be checked for deadly cracks and leaks, and air conditioning systems should have filters changed and checked for their efficiency. These small inspections will save you money, and quite possibly your life.

•ü Exterior Paint And Fascia. Wood exterior needs frequent inspection and maintenance. Small lapses can be costly. Inspect the exterior of your home for signs of wear, and stay on top of any required maintenance.

•ü Safety Systems. Check your smoke detectors and replace the batteries every six months. After all, the time you need them most is not the time you want to learn they failed because of something so simple as a battery. Also, make sure you have a carbon monoxide detector in or near every bedroom. It could save your life if there is a gas or heater leak.

If you'd like more information on how simple repairs and fix-ups can bring you as much as $10 dollars for every $1 invested, call me at 505-410-0724 for my Free Consumer Booklet, "Home Seller's Guide To Money-Making Fix-Ups."

cCosing quickly

Tony Olmi, Qualifying Broker, SRES, EMS (La Entrada Realty) — Sun, 04 Nov 2007 22:32:22 -0600

Real Estate Corner...

•Q. We just received a great offer to purchase our home. Problem is, the prospective purchaser wants to close escrow on November 15^th, just three weeks from now. Things are happening so fast, can the buyer really close in three weeks?

•A. Yes, the buyer can close in just three weeks, even if the buyer is obtaining financing for the purchase. The loan process can usually be completed in time for the closing; however, your REALTOR^® has a very important responsibility to protect you against the following scenario:

Let's say it's three days before closing and you're still waiting for the buyer's lender to issue final approval on their loan. You're packing at a feverish rate, the movers are scheduled, utilities are transferred, services will be cancelled in three days, and you're made all arrangements predicated on the home closing on November 15^th.

On November 14^th you receive a call from your REALTOR^® informing you that the processing of the loan will delay closing (or worse yet, the buyers have been declined for financing!). As you can imagine, the financial and emotional consequences of this call are devastating.

To prevent this scenario, your REALTOR^® could place the following clause into the purchase contract: "If by November 5^th seller and seller's agent have not received documentation of loan approval from purchaser's lender for the purchase referenced in the contract, sellers, at their exclusive option, reserve the right to adjust the closing date up to 15 days after such time as documentation of unconditional loan approval is received." Thinking ahead, and handling potential problems like this are just one of the reasons why you should be represented by a competent, caring REALTOR^®.

Finding and pre-qualifying buyers.

Tony Olmi, Qualifying Broker, SRES, EMS (La Entrada Realty) — Sun, 04 Nov 2007 22:30:21 -0600

Real Estate Corner...

•Q. How Do You Find And Pre-qualify Buyers For A Home You Have Listed For Sale?

•A. Buyers for homes I list come from a number of sources. Many come from referrals, either through my office or through previous clients of mine. Some come from company advertising, open houses and "For Sale" signs. And others come from the enormous exposure created through my exclusive home marketing plan. But that's not the only way buyers are exposed to a home listed for sale. As a member of Multiple Listing Service (MLS), I cooperate with over 3,000 other agents. I have an agreement that any agent who has an offer accepted on a property I have listed will receive a share of the commission. This is an excellent incentive for them to show and sell your home.

When prospective buyers come to me directly, I have to know if they're qualified to afford your home. The last thing I want is to waste your time with buyers who are not qualified. Here is the key question I ask them when they call: How much home have they been pre-qualified or pre-approved to purchase? If they haven't been pre-qualified, I require them to do so, and ask even more questions in the process: How much cash do you have to put down on a home? What is your annual income? What kinds of debts do you have? How long have you worked at the same job or in the same industry? How good is your credit status? Do you have a home you need to sell before you can buy another? When do you need to move?

By screening potential buyers, I save time for both you and me, resulting in the most qualified, ready-to-buy buyers for your home. If you'd like to learn how to potentially save thousands on your home sale, I have several Free Consumer reports you can order from my "Insider's Free Resources" list. Just call me directly at 410-0724.

4 phases of the selling process

Tony Olmi, Qualifying Broker, SRES, EMS (La Entrada Realty) — Sun, 04 Nov 2007 22:28:43 -0600

Real Estate Corner...

•Q. We are thinking of selling our home, and heard there are four critical phases of the selling process we must examine with our agent. What are those phases?

•A. If you're selling your home, you need to be aware that there are four critical phases of the selling process. A mistake in any of the phases can jeopardize a fast, top-dollar sale.

Here are the phases: 1) Pricing the property to ensure the likelihood of stimulating offers. Many people try to set a high price thinking they can come down later. That's a big mistake because above-market pricing stifles showings and discourages offers of any kind, usually netting the homeowner a lower price than they planned on getting. 2) Marketing the property to attain the highest number of showings from qualified buyers. Check your agent's marketing plan carefully to ensure they have the ability to do more than just place it in MLS and hold a few open houses. 3) Creation and Negotiation of the purchase contract. A good agent's negotiating skills can make or break a purchase contract. Check their experience in these matters. Ask questions about past transactions they handled. 4) Managing the escrow process. During this phase, your agent must be on top of all the escrow functions: inspections, appraisals, financing, contingencies, and more. When interviewing real estate agents, make sure you address each of the four phases of the selling process. Your dialog will be pivotal in establishing trust and a personal chemistry that is crucial between you and your agent. If you have a question about selling your home, please call me at 410-0724.

Pre-qualification or Pre-approval?

Tony Olmi, Qualifying Broker, SRES, EMS (La Entrada Realty) — Sun, 04 Nov 2007 22:10:07 -0600

Real Estate Corner...

•Q. We entered into a contract with someone who wanted to buy our home. The agent representing the buyer presented us with a "pre-qualification" letter from a lender. Today we discovered the buyer was rejected for financing. How can this happen?

•A. You allowed the term "pre-qualification" to lull you into a false sense of security. The loan amounts referenced in pre-qualification letters are conditional on verification of income, employment, funds on deposit, credit report, and more. A lender can issue a pre-qualification letter after just a simple 10-minute phone interview with a prospective purchaser.

As a seller, your best vehicle for peace of mind would be a pre-approval letter accompanying the offer to purchase. A pre-approval letter is a firm commitment to lend money and is issued only after verification of the crucial financial items mentioned above.

If you're thinking of selling your home in the next year, please call me at <<your number>> for important information that could save you thousands in the process, and avoid unwanted surprises like the sellers above experienced.

AND... if you're thinking of buying or selling, and you just need a little helpful "guidance," order one of my Free Consumer Reports highlighted in my Free Consumer Resources page inside this newsletter.