Stacy's Blog

BUSINESS IS PICKING UP!!!!!!!!!

Stacy Jones (West Little Rock Title Company) — Mon, 13 Apr 2009 18:33:01 -0500

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...

WHERE ARE THE "NORMAL" CLOSINGS ? FIND YOUR RELEASE DEED

Stacy Jones (West Little Rock Title Company) — Sat, 28 Feb 2009 09:53:40 -0600

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

Stacy Jones (West Little Rock Title Company) — Tue, 23 Sep 2008 10:37:50 -0500

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.

WHAT A CREAM-PUFF! (you can see her how - sorry 1st photo didn't appear)

Stacy Jones (West Little Rock Title Company) — Sat, 20 Sep 2008 06:45:35 -0500

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!!

NEW BABY GIRL-- PHOTO IS IN THERE NOW!!

Stacy Jones (West Little Rock Title Company) — Sat, 20 Sep 2008 06:08:35 -0500

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!

10,000!!!

Stacy Jones (West Little Rock Title Company) — Sat, 30 Aug 2008 15:52:45 -0500

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!!

"THE VARM ALARM"--GET UP!!

Stacy Jones (West Little Rock Title Company) — Sat, 30 Aug 2008 15:24:06 -0500

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)

HOLDING TITLE TOGETHER

Stacy Jones (West Little Rock Title Company) — Wed, 20 Aug 2008 10:46:26 -0500

Thanks for the invite into your group. I'll try to contribute in some way. Let's see, I do have a question though,-- how many of you enjoy working with divorced couples holding title together? Wait, I don't see many hands being held up.

Well, I've got one of THOSE closing today, looks like I should block off the rest of the day!! Any comments??

Food for Thought- Real Estate Ideas

Stacy Jones (West Little Rock Title Company) — Wed, 20 Aug 2008 09:54:44 -0500

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 "HURRY UP" MEANS "SLOW DOWN"- ALL TITLES AREN'T CLEAR

Stacy Jones (West Little Rock Title Company) — Sat, 09 Aug 2008 10:43:20 -0500

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.

PUTTING OTHERS BEFORE YOURSELF HAS MANY UNEXPECTED BENEFITS

Stacy Jones (West Little Rock Title Company) — Fri, 08 Aug 2008 13:17:05 -0500

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.

BUSINESS 101--SIMPLE RULES FOR SUCCESS

Stacy Jones (West Little Rock Title Company) — Tue, 05 Aug 2008 16:56:32 -0500

Rule 1. DO WHAT YOU SAY YOU'RE GOING TO DO!

Rule 2. RETURN YOUR PHONE CALLS (INCLUDES E-MAILS)

When you don't follow these 2 simple rules, you are loosing business--you just don't know it yet. By the time you figure it out, you won't have any phone calls or leads to worry about.

When you do follow these 2 simple rules, you will have a better chance of being successful..It's amazing how many people will just tell you something and never follow-up on their promises. Nothing worse than that, in my book.

When you're returning your phone calls, even if your first response cannot answer the entire question without a follow-up call to that person again later, at least by your returning the phone call promptly, you are following one of the number 1 rules for success. I know, we are ALL busy, but there is nothing more frustrating for me than getting someone's voice-mail time and time again, leaving messages and getting no phone call -- or being promised something that never happens.

JUST DO WHAT YOU MEAN AND MEAN WHAT YOU SAY!

WITH OR WITHOUT FURNITURE

Stacy Jones (West Little Rock Title Company) — Tue, 24 Jun 2008 18:19:44 -0500

This is probably an easy question for some of you, but I am asking for feed-back from Realtors on this topic. I am trying to determine if you think it is easier to sell a house with nice furniture in it-- or with it being vacant. This is a topic that has come up recently, and we just decided to take an unofficial poll.

Take a second, if you would, to respond,-- and if possible -- give us a little background on why you have your particular opinion on this topic. Thanks a lot!

HOW DO I GET STARTED ON MY FOR SALE BY OWNER CLOSING (IN ARKANSAS)

Stacy Jones (West Little Rock Title Company) — Tue, 13 May 2008 11:09:15 -0500

HOW DO I GET STARTED???

FOR SALE BY OWNER CLOSINGS

IN ARKANSAS

BUYING A HOME IS ONE OF THE BIGGEST INVESTMENTS YOU MAY EVER MAKE. SELLING YOUR HOME IS EASIER TO DO IF YOU HAVE A LITTLE GUIDANCE, SOMEONE AROUND THAT'S DONE THIS A MILLION TIMES BEFORE...IT IS IMPORTANT TO SURROUND YOURSELF WITH CAPABLE, HARD-WORKING PEOPLE TO PROTECT YOUR "INVESTMENT." WEST LITTLE ROCK TITLE WILL BE HAPPY TO HELP YOU DURING THIS PROCESS, TO HELP ANSWER SOME OF YOUR QUESTIONS ABOUT EITHER BUYING OR SELLING A PROPERTY.

WHETHER YOU ARE WORKING WITH OR WITHOUT A REALTOR, YOU WILL NEED TO HAVE A TITLE COMPANY.

IN ORDER TO SET UP YOUR FILE FOR CLOSING, WE NEED THE FOLLOWING:

1) COPY OF A SIGNED CONTRACT

2) BUYER AND SELLER TELEPHONE NUMBERS

MOST OF THE INFORMATION NEEDED CAN BE DISCUSSED OVER THE PHONE; HOWEVER, IF YOU PREFER TO MEET IN PERSON, WE WILL BE HAPPY TO SET UP AN APPOINTMENT FOR YOU. WE CAN PROVIDE YOU WITH A DETAILED ESTIMATE OF YOUR FEES AND ANSWER YOUR QUESTIONS.

ONCE WE HAVE THE BASIC INFORMATION, WE CAN GET STARTED ON PROCESSING YOUR FILE. WE WILL DO EVERYTHING IN OUR POWER TO CLOSE ON TIME AND ON YOUR PROJECTED CLOSING DATE.

WE LIKE TO HAVE A WEEK'S NOTICE TO GET EVERYTHING FINALIZED, BUT WILL WORK WITH WHATEVER TIME FRAME THAT YOU NEED. WE TAKE CARE OF PROCESSING (GETTING EVERYTHING READY) FOR THE CLOSING, ALONG WITH OBTAINING YOUR SIGNATURE AND PROCESSING THE FUNDS AT THE ACTUAL CLOSING.

KEEP MY NAME AND PHONE NUMBER HANDY -- YOU MAY NEED THEM!!! GOOD LUCK!!!

STACY JONES
WEST LITTLE ROCK TITLE COMPANY
(501) 224-5100
(501) 219-9400 FAX
wlittlerocktitle@msn.com
www.westlittlerocktitle.com

NEED SALES PRICE AND APPROXIMATE LOAN AMOUNT TO PROVIDE QUOTE

Stacy Jones (West Little Rock Title Company) — Mon, 12 May 2008 20:31:27 -0500

Thank you to those of you that have contacted me for a quote on properties in Arkansas. There are only a couple of things that I need to know in order to work up your quote:

1) Need to know the sales price of the property

2) Need to know the buyer's approximate loan amount (or if a cash transaction)

3) Need to know the street address of the property, or county where the property is located

Upon receipt of the above basic information, I can provide you with a quote in a timely manner. Good luck on your contracts!! Let me know if I can help you further. Thanks so much!!

Stacy Jones
WEST LITTLE ROCK TITLE
1431 Merrill Drive, Ste. D
Little Rock, AR 72211
(501) 224-5100
(501) 219-9400 FAX
wlittlerocktitle@msn.com
www.westlittlerocktitle.com

FOR SALE BY OWNER CLOSINGS: GENERAL INFORMATION

Stacy Jones (West Little Rock Title Company) — Fri, 09 May 2008 14:06:00 -0500

FOR SALE BY OWNER CLOSINGS

GENERAL INFORMATION

Whenever you get ready to sell your house, I can help you with your paperwork. Some of you are selling your home yourselves, and some of you are going to use a Realtor, but either way - you will need a Title Company to finalize your transaction. My office is actually the last place that you'll go to sign paperwork, receive any applicable proceeds, etc.

We specialize in residential real estate closings and are very competitive in our pricing, so we can save you money when you get ready to sell. We also offer after-hour closings as a convenience and service to you.

Just let me know when you have a signed contract, then I can help you with everything else. We will do our best to provide you with a smooth worry-free closing, with less stress on you. There are so many details involved in selling a home. We can help make this easy for you.

Good luck in selling your home. Please keep us in mind when you are ready to close on your property sale. I will help you in any way that I can. We offer SPECIAL DISCOUNTS for FOR SALE BY OWNER CLOSINGS. Hope to hear from you soon..

Stacy Jones
West Little Rock Title Company
(501) 224-5100
(501) 219-9400 FAX
wlittlerocktitle@msn.com
www.westlittlerocktitle.com

WHAT MAKES A GOOD TITLE COMPANY PART III

Stacy Jones (West Little Rock Title Company) — Fri, 09 May 2008 13:39:12 -0500

What Makes a Good Title Company?
PART III

Having been in the title business for 24 years, I can tell you from experience and word of mouth from clients who had a bad experience elsewhere, it boils down to one basic service...

COMMUNICATION

Anytime a client or Realtor becomes unhappy with the way a title company handled a transaction, it most likely wasn't due to a mistake or problem created by the title company, but rather the fact that no one bothered to "inform" or communicate to the client, Realtor and/or title company what happened or when it occurred. Good communication can generally eliminate 90% of all problems.

Other than doing a good job with the closing, the second key to being a good title company is:

-Please the Realtor 1st, the Client 2nd. Now that might seem to be incorrect since the client is the one paying your fee, but the Realtor is representing or looking out for the client. You have to take into consideration that a seller client is generally so elated after walking out with a nice check, they quickly forget about any problem along the way. And a buyer client will usually blame their "Realtor" for most problems. Not to mention that the Realtor "knows" the process and knows who is at fault and if the title company is at fault you can certainly expect no more referrals from that Realtor.

At West Little Rock Title, we have a small, but powerful group of well-organized closing agents and staff that know the importance of communication and we never lose site of following up on all details in a timely manner for a smooth and pleasant closing experience for our client and Realtor.

What Makes a Good Title Company? - PART I

Stacy Jones (West Little Rock Title Company) — Thu, 08 May 2008 10:42:31 -0500

What Makes a Good Title Company?

PART II

YOU MIGHT BE A GOOD CLOSER IF...

You can meet yourself coming and going...

You know what the customer wants before they do...

You don't have a problem with 12 hours days...

You have a cadaver bone in your neck for extra strength like I do...(OPTIONAL)

You enjoy Slim Fast...or eating at your desk out of a sack...

You enjoy and always expect the unexpected...

You can continue your closing even if your 8' ficas tree has been knocked over onto the closing table by a four-year old jumping on a chair and opening up an unbrella...

You know that if you receive your closing instructions at 4:00, you still are expected to close that same day...

You know how to close in a parking lot, house full of screaming kids or on a checkered table-top in a loud restaurant...

You perform well even if your dad and father-in-law die the same year that you open your branch office and build your house...

You leave your car parked at work so long that you have ants in your back-seat floorboard...but you met your deadlines...

You have about 3 working copiers in your office of seven...

You can close your file the day after you receive your title order if asked to...

You know how to "pretend to be nice", no matter what, and do it well...

You can continue your closing during a breast-feeding session...

You can close your file if your plants are being destroyed, your wood blinds pulled down and your walls are being colored on by a 2 year old who's parents are oblivious...

You should have a good sense of humor, otherwise the stress will kill you...

Oh, don't forget the mult-tasking part--

Most of all though, you should have a good TEAM!!!! (LIKE WE DO)

We do whatever it takes to get the job done and KEEP YOU HAPPY!!!

Stacy Jones

West Little Rock Title Company