I am hoping to get the same feed-back from Realtors and Lenders, but obviously someone turned "on" the light switch of closings, which had been turned "off" for a while. We are thankful for the business, --now it's time to remember how to do 30 things at once again, no more lunches (not that I ever took one to start with), but it's back to eating quickly out of a paper-bag again and working late every night.

This is not a complaint, it is the beginning of a rainbow I hope! I'm curious to hear if your market is also improving!

Also, I have had several people ask me what is needed to qualify for the $8,000 first time home-buyer credit that is currently being given on qualified tax returns; other than a signed HUD 1, is there something else that needs to be provided? Please specify..

For those that know the process, your feed-back is appreciated, as I will pass the information along...

I think we're all working a lot harder for our money than we used to. Where are the "normal" closings? What happened to them? Seems like what we have now are a lot of REO (Foreclosure) closings, RELO (Relocation) closings, Short Sales (does anyone ever call you back)?? The short sales are a whole other blog, but don't forget about these fly by night title companies doing their closings, then going out of business a few years later.  Or even very reputable companies, going out of business a few years later for various economic reasons.

Now a simple Refinance may show numerous mortgages still of record, that were probably paid off years ago, but never released of record.

So, what to do? ok, we'll go back to the former title company to try to get a copy of the title insurance policy they issued, a signed HUD, a pay-off letter, a copy of pay-off check, etc. Oh, but wait -- that company is no longer around. OK, well, I'll try to contact the former bank to try to get confirmation that they were paid off, and my goal is to ultimately get them to issue a Release Deed.

But -- guess what, they're no longer around, they sold the "paper" (loan docs) to another bank.

Ok, I'll contact them, But -- guess what, they're no longer around, they sold the "paper" to another bank.

This goes on all the time. If insuring the title, you have to do all of this to insure the closing/property sale, so what may appear simple (like a Refinance), may be very complicated. Make sure your customers keep good records when paying off their loans. Make sure they follow up with the company they paid off to get that ever needed "Release Deed."

It may literally save their life one day!!

REAL ESTATE TRANSFER TAXES ON WARRANTY DEED

    In the state of Arkansas, the "revenue tax" that you see on Warranty Deeds is based on a total of 3.3% of the sales price; so on a $100,000 transaction, the buyer and seller would each pay a combined amount of $330.00 at closing for this tax. This amount is customarily split between the buyer and the seller unless the contract stipulates that it be handled differently.

    There are a number of instances when this "tax" can be exempt. For example, if you have a sales price that is $60,000 or less and the buyer is getting a FHA or VA loan, then they can be "revenue exempt", which means that the entire transaction will be exempt, helping eliminate this cost to buyer and seller, --provided the buyer nor the spouse of the buyer has not owned a home within three years of the closing date. The buyer is required to sign a form at closing stipulating these facts (to be recorded with the Warranty Deed) and the reason for the exemption.

  You can check with the Revenue Office for a complete list of exemptions, but a few others are:

  **No tax would be due on certain family transactions or gift transactions where the consideration was less than $100.00;

  **Transfers to or from the United States, the state of Arkansas, or certain agencies or political subdivisions;

  **A re-recorded instrument;

  The revenue tax charges have fluctuated throughout the years, but 3.3 per thousand based on the sales price is what is currently being charged in the state of Arkansas.

For For those of you that love pets, here's the newest addition to our family of cats, this is Cream Puff. We were lucky enough to be able to save her and are getting her settled in now. She was covered with dirt and fleas when we got her, but she's coming along good now, with a little food, love and tenderness. She will be introduced to her "extended family" soon. We think she's a long haired Siamese or Birmese or RagDoll breed, but aren't sure. She's a talker though!!

 LOOK AT THE NEW BABY GIRL -- CREAM PUFF SAYS HELLO!!

 Here's Cream Puff, and what a sweet kitty!! We were lucky enough to save her and brought her into our home this week. I think she's around 6 weeks old. We're not sure what kind of kitty she is, as she looks like a long haired Siamese, but has round features, so I'm not sure if she may be a Rag Doll or something else. We will give her a soft spot to land and be introducing her to our other kitties soon!

Hard to believe that I cracked 10,000 points today!! It was just a couple of months ago that I joined the rain and enjoy it more as time goes by. I finally loaded my first photo today. That's a joke to many, but better late than never. A special thanks to those that have helped me  get to this point. This is a great place to meet new people. New groups are popping up daily. Being 2nd in the Little Rock and Pulaski County, Arkansas is nice. I'll enjoy that while it lasts!!

I don't need a real alarm clock because I've got the VARM ALARM. It goes off at about 5:00 a.m. every morning, usually when I'm in my deepest sleep, I will hear a tap, tap then some type of "blap" noise. That's the VARM ALARM. Or I may hear the bottom of my door rattle, that's the VARM ALARM. Don't leave any type of bottled water or drink on your bedside, as it may be knocked on the floor along with your cell phone -- that's the VARM ALARM.

By the way, once you're up, please feed me.  THE VARMIT (BELOW)

Change is difficult but often essential for survival. Nothing ever stays the same.

To feel the exhilaration of victory, you must accept challenges - get out of your comfort zone.

A shortcut doesn't always get you to where you want to be. You get what you give sometimes.

Sometimes the ability to start over has more validity that the ability to persist.

Imagination and common sense, not simple knowledge, are often true signs of intelligence.

If you want to stand out, do something outstanding.

How you respond to life's tough choices may be more important than "what happens to you."

Trust your heart, but don't forget that God gave you a brain.

Sometimes there are title issues, complicated closing issues, divorce situations, marital property issues, questions of ownership, situations that involve attorneys, questions of fraud, etc. that take time to clear up before a file can close. Every property doesn't have clear title.. Sometimes a quiet title must be done which may fix the exact problem, but may also slow down the whole process of closing.

Many people think that if they tell the title agent how to do their job, it will speed up the process. These same people are not the ones insuring the property with title insurance.They are not the title agent, and although it is always good to listen to another person's opinion, ultimately the title agent and the title  underwriter will have to make and satisfy the requirements for the closing.

Don't get caught up in the hype or rush that may surround the closing. It is the title agent's job to do what is right - to provide and be able to insure clear title to the new buyer and/or lender. Sometimes "Hurry Up" means "Slow Down".. Who will be around if the title agent insures over something that comes back to be a problem later? If there were title claims on the majority of properties that closed, eventually title insurance companies would no longer be around, or their pricing would be so expensive that the average person could not afford to even purchase title insurance. That is one reason it is so important to close at a reputable, experienced title company.

Sometimes Hurry Up Means Slow Down. If you are  a buyer, your best bet it to make sure your title is clear, clean and insurable before you go to closing. If you have the right type of representatives,-- they will also want you to have clear title. That way, if you ever decide to sell your property you will be able to do just that and you won't be stuck with legal fees that should have been taken care of a long time ago by someone else.

In the hustle and bustle of your "life" you have many choices, but each have consequences. Sometimes a simple act of appreciation or kindness, or a small sacrifice on your part will make a big difference in someone's life. It isn't always what you do, but what you don't do.

Helping out people that really need help not only makes you feel good, but may truely change someone's life. Staying a few hours late to keep your customers happy, who are driving in, might not sound too appealing, but it could really lighten their stress load a great deal. I'm sure you can find something to do at the office anyway. Sometimes, just not complaining about  whatever it is you're trying to do, will enable you to get it done faster. By the time you complain about it to several people, you could already be finished with the task. Closing your customer on their one hour lunch break may really be helping them out. That's a small sacrifice on your part.

You will be surprised how many people may remember your one act of kindness in a positive way.. If you do the right things, usually something positive will come your way. It's a nice feeling to be appreciated, but it's even better when you are helping someone in the process.