Spencer's Blog

Continued problems with HMBI and HUD

Spencer Cole (RE/MAX 1st Realty) — Thu, 12 Nov 2009 08:15:13 -0800

These folks at HMBI just don't care. Apparently they consider themselves a government office or a bank as they were closed yesterday for Veteran's Day. I have a great respect for our Vets, but c'mon, the lenders were working. So now another day has gone by with no response from those yahoos. they sent me the wrong contract and now it will cause a delay and cost my client time and money. HMBI should be investigated for incompetence.

Dealing with HUD

Spencer Cole (RE/MAX 1st Realty) — Mon, 09 Nov 2009 09:17:25 -0800

I am currently dealing with HMBI, our Virginia sub-contractor for HUD concerning a property which I bid on and was awarded the sale on behalf of a client. This is interesting to me: One simple exchange that took place at exactly 4:55 pm EST via telephone a couple of days after overnighting the ratified contract to their office, over 3 weeks before our expected settlement date. I had just popped back into my office after a busy day out and about. I only expected to check a couple things and have the rest of the evening off. I happened to be at my desk when my cel phone rang.. It was the HMBI employee assigned to our case. She immediately informd me of a simple mistake on the contract which needed to be changed- no problem. Then she informed me that the EMD guidelines in their instructions are wrong and an addition $300 was need for the deposit. This in itself was an issue as my client has scraped together all she thought she could and was having to come up with far more cash than we originally expected. But still I was not overly concerned at this point, should not be a big deal, we'll work it out. Here's the shocker: This was on a Tuesday. I told said employee that I would speak with the buyer the next day (she was unavailable Tuesday) and get everything taken care of by Thursday. This was unacceptable according to their guidlines. i had to have it done by end of business the next day. I was in shock. In the end I managed to get it done but quite a personal sacrifice was required by my client. I will do everything to not allow this to happen again, but wow! No flexibility from HUD at all. they would not give me one extra hour much less a whole day.

Homebuyer Tax Credit EXTENDED and improved!

Spencer Cole (RE/MAX 1st Realty) — Sun, 08 Nov 2009 20:41:26 -0800

Buyers are calling me to get more info about the tax credit extension! This is great news. The credit extension should help the market significantly. I am especially excited about the new $6500 credit for existing homeowners who buy another primary residence. Many of my clients were upset to find out that they did not qualify for the credit thefirst time around. Existing homeowners make up about 80% of our market so I expect this new credit will be taken advantage of on a much larger scale.

Photos Make Your Property Really Special and Unforgettable

Spencer Cole (RE/MAX 1st Realty) — Sat, 07 Nov 2009 02:42:25 -0800

Judging from my own experience, I noticed that pictures of your property can increase the value of your house for sale. But your photos should be correct and impressive. If you send photos of your home online on your own, you definitely dream of impressing your buyers. It's clear that it’s much better to see the home than to listen to long descriptive stories about it. That’s why providing pictures plays an essential role in FSBO procedure of selling. And besides, offering pictures online is very convenient as you do not waste time on meeting your numerous buyers and showing them your property. You'll deal only with those who are really interested in buying your home. Of course, it'll be a great idea to ask a professional photographer to take pictures. These people know how to make your home really attractive. But if you want to do it yourself, here are some tips for you: - You can put some nice plants, bright magazines and books on your furniture; - Try to make your rooms look tidy and neat; no clutter; - Do not include your personal things in view, they are nice for you, but may be opposite for other people. Tastes differ, you know. - Demonstrate all advantages of your home, emphasize them; avoid possibly negative details. And in general, do not forget to make the rooms in your photos welcoming and relaxing.

Tax Credit Extension

Spencer Cole (RE/MAX 1st Realty) — Sat, 07 Nov 2009 02:41:12 -0800

The Senate today voted unanimously Wednesday night to extend the $8,000 tax credit for home buyers beyond its scheduled November 30, 2009 expiration date. The credit would be available until April 30, 2010. Under the new legislation the credit will also now apply to home buyers who are buying their second or subsequent home. The credit currently applies only to first time home buyer. The Senate vote was 98 to 0 Under a compromise reached late last week, the tax credit for veteran homeowners will apply only to those who have lived in their current residence for at least five years. The credit for these buyers will be capped at $6,500 while first time buyers will continue to receive $8,000. Income levels will be extended from the current limits of $75,000 for a single purchaser and $150,000 for couples to $125,000 and $225,000 respectively. Above those limits there are diminishing credits available.

Home Buyer Tax Credit FAQ's

Spencer Cole (RE/MAX 1st Realty) — Sat, 07 Nov 2009 02:40:46 -0800

This list of the most asked questions has been provided to us Akron Ohio Realtors to assist our clients in understanding the changes and time limits on the recent legislation passed and signed by the President on Friday, November 6, 2009. You may contact me or any Realtor in your area for any further questions or concerns you may have. Good luck in your home search! NAR Frequently Asked Questions Homebuyer Tax Credit Changes National Association of REALTORS® Government Affairs Division Question: Existing homeowner credit: Must the new house cost more than the old house? Answer: No. Thus, for example, individuals who move from a high cost area to a lower cost area who meet all eligibility requirements will qualify for the $6500 credit. Question: I am an existing homeowner. On October 25, 2009, I signed a contract to purchase a new home. I have lived in my current home for more than 5 consecutive years and am within the new income limits. I will go to settlement on November 20. If President Obama has signed the bill by the time I go to settlement, will I qualify for the new $6500 tax credit? Answer: Yes. The existing homeowner credit goes into effect for purchases after the date of enactment (when the bill is signed). There is no reference to the date of contract for the new credit. The provision looks solely to the date of purchase, which is generally the date of settlement. Question: I am a firsttime homebuyer but was not within the prior income limits at the time I entered into my contract to purchase on October 30, 2009. I will be covered, however, by the new income limits. If the new rules have been signed into law by the time I go to settlement, will I be eligible for a credit? Answer: Yes. The new income limitations go into effect as soon as the President has signed the bill. The income limit and other eligibility rules will look to your status as of the date of purchase, which is the settlement date. So if the new rules have been signed when you go to settlement, you should be eligible for the credit (or a portion of the credit if you're within the phaseout range). Question: I am an eligible existing homeowner. I have a fair amount of equity in my home. I have found a home with a nonnegotiable price of $825,000. Will I be able to use any of the $6500 tax credit? Answer: No. The $800,000 cap on the cost of the purchased home is firm at $800,000. Any amount above $800,000 makes the home ineligible for any portion of the credit. The $800,000 is an absolute ceiling. Question: I owned my home for 10 years, but sold it two years ago year and have been renting since. If I purchase a home, will I be eligible for the $6500 tax credit if I meet all the other eligibility tests? Answer: Yes. Because you lived in the home for more than 5 consecutive years of the previous 8, you will qualify for the $6500 credit. For example, Say John and his wife bought a home in 2000 and lived there until 2008 when he got a divorce. Whether John has been renting or bought in the interim, he WOULD INDEED be eligible for the credit because he owned a home and occupied it as his principal residence for 5 consecutive years out of the last 8 years. The keyword here is "consecutive." As long as he lived in that house for 5 years straight what he did since 3 years doesn't impact eligibility. Question: I am an eligible firsttime homebuyer. I entered into a contract to purchase on November 1, 2009. Do I have to go to closing before December 1? How does the extension date affect me? Answer: You do not have to close before December 1. Once the legislation has been signed, it will be as if the Nov 30 date had never existed. Therefore, so long as the contract settles before April 30 (or July 1, worst case), the purchaser will be eligible for the credit. Your Local Akron Ohio Realtor David M. Childress Join Me: on TWITTER AND on FACEBOOK Serving Buyers and Sellers in the following Ohio Communities Akron, Canton, North Canton, Barberton, Cuyahoga Falls, Stow, Munroe Falls, Silver Lake, Fairlawn, Green, Hudson, Macedonia, New Franklin, Northfield, Norton, Tallmadge, Twinsburg, Bath, Boston, Copley, Coventry, Northfield Center, Richfield, Sagamore Hills, Springfield, Hartville, Uniontown, Jackson, Kent, Ravenna, Portage Lakes, Wadsworth, Seville, Medina and more. Just visit my website or email me for information on any home in NE Ohio.

Do You Reblog? Why or Why Not? My Reasons For Re-Blogging.

Spencer Cole (RE/MAX 1st Realty) — Sat, 07 Nov 2009 02:39:45 -0800

When Active Rain first came out with the ability to re-blog, I wasn't sure that I liked the idea... I'm always just a tad cautious about new things and need a little time to think about it or get used to it. Quickly though I realized that others were writing stuff that my clients would or could benefit from if they read it... articles about topics that those writers were much better qualified to write and may have just said it better than I had. So I started re-blogging. Since there are mortgage people here on Active Rain that are writing some really great blogs about all of the ins and outs of mortgages, I sometimes re-blog a mortgage post. It compliments the topics that I choose to write about. Ditto for staging. My clients could really benefit from good staging articles and we have some of the best stagers in the world right here writing about it. So I re-blog staging articles. And home inspection articles, AND appraisal articles. Sometimes someone posts an article and I just flat-out do not want to lose that article and I will come back to it easier if I re-blog it into my line-up... I realize that reason for re-blogging may be a little off base but hey, it's the truth. Sometimes I simply truly enjoy an article. It says things in ways that I want to promote...so I re-blog. Every once in a while someone is trying to accomplish a worthwhile goal that will better accomplished if more people know about it, so I re-blog their post to bring attention to their issue. On one re-blog, I received an email from the original blogger, compliementing me on the use of her blog. I had added a little bit to the title for a better fit to my area. I knew when I saw her photo blog that it was a great one for use around Lake Raymond Gary and I appreciate her letting me re-blog and her compliment on my use of it. Re-blogging allows me to have a much fuller blog for my clients and customers with depth into areas where others are the expert, not me. Hopefully it will benefit my clients, my office, and the original blogger. So my question - Why do you re-blog? The picture of the cracked foundation is from flickr user Casey Serin. The photo is a link to the profile on flckr. The picture of the staged room is from flickr user Real Estaging. The photo is a link to their profile.---------------------------------------------------------------------------------- Life in Southeast Oklahoma is GREAT! If you're looking for a home or land in my part of the country, please give me a call, and give me a chance to earn your business! Judi Barrett, broker, Integrity Real Estate Services, 580-212-5946 Integrity RealtyIntegrity Real EstateLake Raymond Gary HomesFort Towson HomesValliant HomesMcCurtain CountyChoctaw CountyBroken Bow LakeLake Raymond GaryRaymond Gary LakeCommercial Property List=================================== Judi BarrettBroker - Integrity Real Estate ServicesOur Name Says It All.Real Estate Services You Can Trust.580-212-5946

Even from the Brooklyn Bridge this looks like trouble!

Spencer Cole (RE/MAX 1st Realty) — Sat, 07 Nov 2009 02:38:28 -0800

There are not all that many roofs that I do not walk on---but one of the kinds I don’t usually walk on is steep metal roofs. If one thinks back to their childhood---they make slippery-slides out of metal for a reason. I know there are plastic ones, but they are not nearly as good as metal ones----unless there is water running down them. So, I was looking at this one from the eaves and from the ground, to make as good an assessment of the roof as I could. I think everyone can see in this picture that there is no flashing around this vent pipe. From the attic side, it is as clear as blue sky and green grass that there just “ain’t no flashing.” WHOOPS! Charles Buell Click on the Rose to check out: AHA!---A Forum of Landmark Proportions---your Group PS, for those of you that are new to my blog (or for some other "unexplained" reason have never noticed)all pictures and smiley-face inserts (emoticons) (when I use them) have messages that show up when you point at them with your cursor. DeCroe, is my "ethereal" home inspector assistant and occasionally flies into my blog and other people's blogs to offer assistance. To find out more about her beginnings just click on Raven.

First Time Home Buyer Tax Credit Extended Into 2010

Spencer Cole (RE/MAX 1st Realty) — Sat, 07 Nov 2009 02:36:35 -0800

First Time Home-buyer Tax Credit Extended Into 2010! Plus...A New Tax Credit for Certain Existing Home Owners! It's official. President Obama has signed a bill that extends the tax credit for first-time home buyers (FTHBs) into the first half of 2010. This program had been scheduled to expire on November 30, 2009. In addition to extending the tax credit of up to $8,000 through June 30, 2010, the extension measure also opens up opportunities for others who are not buying a home for the first time. So Who Gets What? The program that has existed for FTHBs remains intact with the one exception that more people are now eligible based on an increase in the amount of income someone may now earn. Additionally, the program now gives those who already own a residence some additional reasons to move to a new home. This incentive comes in the form of a tax credit of up to $6,500 for qualified purchasers who have owned and occupied a primary residence for a period of five consecutive years during the last eight years. Deadlines In order to qualify for the credit, all contracts need to be in effect no later than April 30, 2010 and close no later than June 30, 2010. Higher Income Caps in Effect The amount of income someone can earn and qualify for the full amount of the credit has been increased. Single tax filers who earn up to $125,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, single filers who earn $145,000 and above are ineligible. Joint filers who earn up to $225,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, joint filers who earn $245,000 and above are ineligible. Maximum Purchase Price Qualifying buyers may purchase a property with a maximum sales price of $800,000. First-Time Home-buyer Tax Credit – Frequently Asked Questions Here are answers to some commonly asked questions about the tax credit. What is a tax credit? A tax credit is a direct reduction in tax liability owed by an individual to the Internal Revenue Service (IRS). In the event no taxes are owed, the IRS will issue a check for the amount of the tax credit an individual is owed. Unlike the tax credit that existed in 2008, this credit does not require repayment unless the home, at any time in the first 36 months of ownership, is no longer an individuals primary residence. What is the tax credit for first-time home-buyers (FTHBs)? An eligible home-buyer may request from the IRS a tax credit of up to $8,000 or 10% of the purchase price for a home. If the amount of the home purchased is $75,000, the maximum amount the credit can be is $7,500. If the amount of the home purchased is $100,000, the amount of the credit may not exceed $8,000. Who is eligible for the FTHB tax credit? Anyone who has not owned a primary residence in the previous 36 months, prior to closing and the transfer of title, is eligible. This applies both to single taxpayers and married couples. In the case where there is a married couple, if either spouse has owned a primary residence in the last 36 months, neither would qualify. In the case where an individual has owned property that has not been a primary residence, such as a second home or investment property, that individual would be eligible. As mentioned above, the tax credit has been expanded so that existing homeowners who have owned and occupied a primary residence for a period of five consecutive years during the last eight years are now eligible for a tax credit of up to $6,500. How do I claim the credit? For those taking advantage of the tax credit in 2009, you may choose to either apply for the credit with your 2009 tax return or you may apply for the credit sooner by filing an amended 2008 tax return with Form 5405 (http://www.irs.gov/pub/irs-pdf/f5405.pdf). Can you claim the tax credit in advance of purchasing a property? No. The IRS has recently begun prosecuting people who have claimed credits where a purchase had not taken place. Can a taxpayer claim a credit if the property is purchased from a seller with seller financing and the seller retains title to the property? Yes. In situations where the buyer purchases the property, even though the seller retains legal title, the taxpayer may file for the credit. Examples of this would include a land contract, contract for deed, etc. According to the IRS, factors that would demonstrate the ownership of the property would include: 1. the right of possession, 2. the right to obtain legal title upon full payment of the purchase price, 3. the right to construct improvements, 4. the obligation to pay property taxes, 5. the risk of loss, 6. the responsibility to insure the property and 7. the duty to maintain the property. Are there other restrictions to taking the credit? Yes. According to the IRS, if any of the following describe your situation, a credit would not be due. You buy your home from a close relative. This includes your spouse, parent, grandparent, child or grandchild. You do not use the home as your principal residence. You sell your home before the end of the year. You are a nonresident alien. You are, or were, eligible to claim the District of Columbia first-time home-buyer credit for any taxable year. (This does not apply for a home purchased in 2009.) Your home financing comes from tax-exempt mortgage revenue bonds. (This does not apply for a home purchased in 2009.) You owned a principal residence at any time during the three years prior to the date of purchase of your new home. For example, if you bought a home on July 1, 2009, you cannot take the credit for that home if you owned, or had an ownership interest in, another principal residence at any time from July 2, 2006, through July 1, 2009. Can you buy a home from a step-relative and be eligible for the credit? Yes. Provided the person you are buying a home from is not a direct blood relative, the purchase would be allowed. Can parent(s) who will not live in the property cosign for a mortgage for their child and the child that is a qualifying FTHB still be eligible for the credit? Yes. Can a separated spouse who has not owned a home for four years qualify for the FTHB tax credit if the spouse has owned a property anytime in the last three years? No. However, the spouse may be eligible for the repeat buyer credit. The best path to take in any situation regarding income taxes is to speak with a professional tax preparer or CPA. If you have any questions that fall outside the situations here, give me a call and if you do not have an accountant to speak with, I can refer you to one. Please call me to help you buy or sell your home . Let HelpfulHannah Help You! Pictures are by Hannah Williams not to be duplicated without permission .HelpfulHannahs.com is a Real Estate website please visit it if you are interested in information about homes or any information about the Philadelphia or Bucks County Pennsylvania area or call me direct 215-992 3376 or by cell 820-3376 i will be glad to assist you.Unless otherwise noted, the content, both written and in pictures,are the property of Hannah Williams. If you wish to use something you see here,( please ask for permission) Most likely I will oblige, with a link back to my original content as well as an acknowledgment. Thank you to all my friends,neighbors and clients who allowed my to use their photos and videos maybe you will get to Hollywood! To SEARCH for HOMES PLEASE VISIT HELPFULHANNAH,COM For Local NEWS and ViEWS Helpfulhannahs.com

A Question I Get Asked Often...And My Answer Is Always The Same

Spencer Cole (RE/MAX 1st Realty) — Sat, 07 Nov 2009 02:14:13 -0800

"Rich, how much will the seller take for the house? Well, taking the rest of the contract into consideration, the seller will more than likely accept the listing price." Frankly, what the heck else did you expect me to say? Even though some agents ask that question, thats really not what they're after. There is usually a pause after I tell them the seller will accept the listing price. What they frequently say next is, "my client wants to make an offer, but I don't want to waste your time." I don't know about you, but for me, its never a waste of my time to review a written offer with my sellers. Thats my job. At least be honest. It really is about wasting your time, having to write an embarrasingly low offer, isn't it? If you're working with a client who thinks they can grab some listing by offering 50 cents on a dollar, you probably are wasting your time. As a buyer's agent, you really need to ask yourself whether your client is a serious buyer. Experienced agents know whether their buyer clients are serious, or just tire kickers. You would be surprised how many people fall asleep in front of the tv and wake up in the middle of the night to an infomercial. "Real estate riches for 50 cents on the dollar, or less." This is where many of them hook up with an unsuspecting agent to do their dirty, time wasting work. If your buyer client is wasting your time, I'm sorry. If you have an offer, even a low one, send it over. I never consider it a waste of time to do my job. If you're SEARCHING for a home anywhere in Maryland, click here to view ALL ACTIVE LISTINGS. Richard Iarossi, REALTOR®Long and Foster® Real Estate, Inc.Crofton, MD 21114 410-451-6255 Office443-995-9595 CellWeb: http://www.RichSellsHomes.comeMail: Rich@RichSellsHomes.com Annapolis MD Real Estate SpecialistBowie MD Real Estate SpecialistCrofton MD Real Estate Specialist ©2009 - RichSellsHomes, All Rights Reserved©iStock Photo - Licensed for Use

Excuse me BofA! You CAN NOT have it both ways!

Spencer Cole (RE/MAX 1st Realty) — Sat, 07 Nov 2009 02:12:19 -0800

That is horrible, I bank with them and must reconsider!Excuse me BofA! You CAN NOT have it both ways! I refinanced a loan this week for some past clients. I did their purchase loan in 2005. We did an 80-15-5 because they had another home that had not closed yet. The 15% second was a home equity line of credit. Their previous home sold and they paid off the 15% second in March of 2006. They never drew another dime on the equity line. June 2008: They received a letter from Countrywide telling them their 0 balance equity line was frozen. They were not allowed to take any draws on the line because the value had decreased. No problem for them. They weren't using the line anyway. Like lots of other people, the equity in their home has evaporated but current rates are still better than what they had on their first so we put together a Freddie Relief refinance - a great deal for them. We are able to drop their payment $200+ per month and because they didn't have PMI on the original loan, there is no PMI on the refinance even though their LTV is now 95%. October 2009:Bank of America (aka Countrywide) rears its ugly head! There had never been a Deed of Release recorded for the "no longer usable" home equity line of credit. The title company received a notice from BofA that there would be a $350 Early Termination Fee in order to do the Deed of Release. Early Termination Fee? On a line of credit they were no longer allowed to use? Really?? This Early Termination Fee showing on the HUD1 would prevent them from completing the Freddie Relief refinance. My client took BofA the statement from March 1996 showing where they had paid it off. She took them the letter from June 2008 saying they no longer had a home equity line of credit. She took them the statement showing the $350 Early Termination Fee. She asked them how in the world they could expect an Early Termination Fee when they were the ones who terminated the line. BofA's response - "We didn't close the line. We just won't let you use it." My client spent over an hour discussing this with the Wizards of BofA. At one point they actually told her "if you do your refinance with us we may consider waiving the fee". Really?? My client told the Wizards of BofA "either this fee gets waived and you allow the title company to record a Deed of Release or I will go to the Attorney General and see what they think! You CAN NOT have it both ways! I didn't terminate the equity line - you did." Guess what? She got it! Refinance paperwork is all signed - we will record and fund on Monday. BofA - what are you thinking? How many other people are you pulling this stunt on? Jane Penttinen, Sr. Loan Officer Sunstreet Mortgage, LLC 520-547-4150 If you, your friends or family require the services of a mortgage professional, please don't hesitate to call me. I am never too busy for any of your referrals. BK090736

The New and Improved Home Buyer Tax Credit

Spencer Cole (RE/MAX 1st Realty) — Sat, 07 Nov 2009 02:10:28 -0800

The much-anticipated extension to the home buyer tax credit has finally been approved. The Senate's vote yesterday resulted in a 98-0 win and today it was passed in the house. The bill now moves to the President's desk for a final signature. First-time home buyers have been eligible for tax credits of up to $8,000 since last January as part of this year's economic stimulus package. The newly backed program will expand the credit to include existing home owners. Under the revised program, those who have owned a home for at least five years will be able to apply for tax credits of up to $6,500 when they purchase their next home. To qualify, buyers will have to sign a purchase agreement by April 30, 2010 and close by June 30. The maximum purchase price on a home will be $800,000 with vacation homes not eligible. Income limitations are $125,000 for single tax payers and $225,000 for joint filers. The National Association of Realtors (NAR) and the National Association of Home Builders (NAHB) have been lobbying hard for the extension and expansion of the tax credit. NAR claims that so far, about 1.4 million first-time homebuyers have qualified for the program and they estimated that 350,000 of these buyers would not have otherwise purchased. The tax credit is also set to be extended for another year for military personnel serving outside of the United States until June 30, 2011. Senator Johnny Isakson, who heavily pushed for the extension, along with his own version that would have increased the credit to $15,000 stated, "This is probably the last extension." But, is this really true? When April 2010 comes around and the housing market is still not in full recovery mode, will the politicians be able to let this go and actually come to an end, or could it possibly become a more permanent subsidy? Subscribe to my blog Copyright 2009 - Claudette Millette, Broker, Owner, TheBuyersCounsel - 800-392-1446 - E-mail Learn More about Massachusetts Home Buyer Representation - Greater Boston and MetroWest Massachusetts - Serving Massachusetts Home Buyers Since 1992 Ashland, Holliston, Hopkinton, Natick, Newton, Northborough, Framingham, Shrewsbury, Sherborn, Southborough, Sudbury, Wayland, Westborough

What You Oughta Know About Blog Commenting

Spencer Cole (RE/MAX 1st Realty) — Sat, 07 Nov 2009 02:09:19 -0800

Much has been said about blog commenting here on ActiveRain, but what about blog commenting out in the real world? I'm talking about commenting on blogs that are not on the ActiveRain platform. Do you comment on other blogs within your niche? Do you try to grab the attention of the big boys? Why would you want to? How can commenting on other blogs help you? Commenting on high profile blogs outside of A|R can have a huge impact on your publicity, your search engine results, and your overall popularity within the blogging world. Okay, so you won't get any A|R "points" for commenting outside of A|R, but there is a much larger benefit to be had. Benefits Of Blog Commenting Grab The Attention Of The Blogs Readers Grab The Attention Of The Blogger Increase Your Brand Awareness Create More Back Links Yes, blog commenting can do all those things, and much much more, however, there is a catch. You actually have to be a real life genuine human being when your commenting. None of this sissy, "great post thanks for sharing", stuff. You have to add value to the readers of the blog, and you have to add value to the blogger themselves. "Add Value" is the key. GRAB THE ATTENTION OF THE BLOGS READERS There are people out there that have never heard of you, never heard of ActiveRain, and surely don't know that you are a fantastic blogger. You have to show them that what you have to offer is something they might be interested in. Besides, they are already commenting on blogs and reading information in your niche, all you have to do is prove that you're worth their time. How can I grab their attention? It works much the same outside of ActiveRain as it does here. When commenting on most blogs, you get to add a link to your website or blog, which people will click on if you add value to a conversation. Here's an example: Go to Google and search for your niche, and add blogs to the search like this: As you can see by just doing a general real estate blog search, I have over 100 million choices to choose from. Now, click on a few blogs, and check out how they do their blog commenting. Make sure that when you comment you are able to leave a link back to your blog/website. It should look something like this: The box that says website is where you want to enter your web address to your blog/website. That's all there is to it. Find blogs, leave comments, add value to the conversation, leave a link back to your blog/website, and use your analytics (click that link to learn how to install analytics on your blog) to watch the new traffic come in. GRAB THE ATTENTION OF THE BLOGGER When people comment on your blog, how does it make you feel? I can bet it makes you fell warm and fuzzy right? I'm talking about those people that leave a comment that makes you click on the link to their profile, add them as an associate, and go find their blog to leave them a comment. Those comments are the comments that get blog writers attention, and in a big way. I found a blog called New Homes Blog. I started commenting on the blog, and I really enjoy reading what the writer had to say. So, I left some pretty meaty comments, and he emailed me. He asked me to be a guest blogger for his Utah section. A guest blogger! That means that he lets me write blogs on his blog, and leave a link back to my websites for Google juice. I got his attention by commenting with some great comments to add value to his blog. The more you put in the more you will get. Start building a relationship with the blogger, and soon enough they just might start talking about you in their own blogs. INCREASE YOUR BRAND AWARENESS The more and more you start to show up on blogs in your niche, the more and more your brand is going to get recognized. By commenting on blogs all over th web,you're going to increase your online visibility. The more you show up, the more people will be curious as to who you are, which will make people more likely to click on your link to learn more about you. Human curiosity! Think about it. Who are the most popular people you know of on ActiveRain? I bet you it's the top commenter's such as, TLW, Lenn Harley, Jason Crouch, Todd Clark, Broker Bryant, Loreena Yeo, C-Tann Star, Bill Gassett, Jeff Dowler, Missy Caulk, Rich Jacobson, Patricia Kennedy just to name a few, or the people who comment on your blog everyday. These people comment a lot and for good reason, they are creating brand awareness. The more you see them, the more you want to know who they are, and that gives you a click through to your blog/website. How many comments have you made today? CREATE MORE BACK LINKS (If you don't know what a do-follow and no-follow link are, before reading this section, I would recommend you read this blog on no-follow and do-follow links first.) Just like ActiveRain, when you comment on some blogs, you get a do-follow link to your website. Every time you make a comment on ActiveRain while logged in, you get a do-follow link pointing back to your profile. In order to find blogs that are do-follow around the web, you will have to do some research. So far, I have a list of 25 do-follow blogs that I am currently commenting on. I don't do it just for the link, I also add as much to the conversation as I can. If I don't have anything to say that is going to add value, I don't say anything at all. I found these blogs by searching Google and researching real estate forums. Unfortunately, I am not going to give you my list of do-follow blogs, I want you to find your own, because it will be more beneficial to you if you do. What I am going to do is, give you a head start in the right direction. Finding do-follow blogs is actually pretty easy once you have the Firefox plugin as mentioned in the link above. Start out by searching Google for do-follow blogs: Google Search: Do Follow Blogs Do-follow blog search engine. The Art Of Commenting On Do Follow Blogs I use these tools and they helped me get a start in the right direction. If you're serious about ranking high for your keywords, commenting on do follow blogs can help you attain your goals. Remember, just because a blog is no follow, doesn't mean you can't get value out of it. Leaving your link is going to get people to click on it, which will bring traffic your way, and increase your brand awareness. What's It All Mean? Commenting on blogs is one of the most fundamental aspects of social media. You are interacting, creating relationships, and adding value to the on-going conversations around the web. Building your awareness through blog commenting takes time and effort to be successful. But I can attest that if you do it with genuine care you soon will start to see an increase in your blogs activity. Good Luck! If you have any stories about how you comment, leave me a comment about it. Or better yet, write a blog about it, and leave a link in the comments so you can add value to my conversation! P.S. A good place to start commenting is my new Cache Valley Real Estate blog!

Market Improving?

Spencer Cole (RE/MAX 1st Realty) — Sat, 07 Nov 2009 01:57:33 -0800

Here is an interesting article I found today: Daily Real Estate News | November 6, 2009 Share Declining Inventory Sign of Stabilizing Market An important reason that the housing market is stabilizing is the reduction in inventory. Current sales and inventories suggest that supply will decline below the pre-2006 levels by the end of 2009. But analysts say that the stabilization of the market doesn’t mean that prices will rise anytime soon. They point to what they call “shadow inventory,” foreclosed homes that banks are holding off the markets. They predict that these homes will hit the market in spring 2010. But overall, they are optimistic that the housing recovery is built on an improving economy and say that the market will continue to stabilize. Source: BusinessWeek.com, James C. Cooper (11/09/2009) I do believe that the market is improving. I expect steady sales through the winter especially with the new extension of the tax credit. Do NOT expect the credit to be extended again when it expires on April 30, 2010 though- there will most likely be no more extensions.

The ActiveRain Point System

Spencer Cole (RE/MAX 1st Realty) — Sat, 07 Nov 2009 01:49:15 -0800

How this system works:The ActiveRain Point System ActiveRain awards members points based on participation and their individual involvement within the network and community. While there is a much more complicated and technical explanation of how the point system works, this post is to provide you a general overview of how points are earned and distributed that to ALL ActiveRain members. ActiveRain points are earned based on a members individual activities and efforts. Points are accumulated over the duration of the Calendar week which "Starts Monday morning at 12:00am Central Time, and Ends Sunday night at 11:59pm Central Time." The following are some ways you can earn points and move up the "Featured Member" ladder in your Local Area. 200 Points for each Blog Post (Max 10 per Week) (50 Word Minimum Required) 25 Additional Points when Post is added to Channels with a Topic 400 Points for Featured Post on ActiveRain.com(Excludes Posts Featured in ActiveRain Groups) 25 Points For Each Comment(Max 10 Per Day) (Comments on Your Own Posts Excluded) 25 Points for Each Reblogged Post(Max 10 Per Week - These do not Include Your Own Posts) ActiveRain Profile Points(Building Your AR Profile will Build points) Received Comments on Blog Posts(No Blog Post to exceed 475 pts.) 100 Points - Logging In To ActiveRain Each Day(This applies 7 days a week) 250 Points When Someone Accepts Your AR Invitation(Must Sign Up under Members Invite Code) 10% of Total Points Earned By New Members Invited By You(IE: Invited Member Earns 1000 pts. - You Earn 100 Pts.) ActiveRain and Member Approved Contests - Points Will Vary(These show up as Bonus Points in your Point Summary) Staff Awarded Bonus Points - These are issued by the AR staff(Member Humanitarian, Paying It Forward, Helping Others etc.) Weekly Point Scenario: The potential of points available per week, per member would be as follows: 1750 for max comments, 2000 for max Blog posts, 700 for logging in daily, 250 for adding to Channels/Topics, and 250 for max ReBlogged posts. The Weekly potential of points would be 4950 (this does not include featured posts, comments received, invitation and percentage points, contests, and staff awarded bonus points.) Point Disclaimer: The Points System created by the ActiveRain Network was developed and implemented to motivate, inspire, and reward members for their participation and involvement within the community. These points are subject to change at the discretion of the ActiveRain Mgmt. Team, with or without cause, warning, or notice. "RainMaker" Special - Signup Here and Get New Member Discount

More Halloween Pics

Spencer Cole (RE/MAX 1st Realty) — Sat, 07 Nov 2009 01:43:37 -0800

Here are a few more pictures from our Halloween event. Thanks again to Linda, Jeff, Sal, Nate, Maddi, Deena, Phillip, Brian, Cody, Carole, Devin, Brandon and everyone who helped pull it off. And no, we are not satanic! We are Christians who know the real history of All Hallows Eve, look it up if you don't know: It has a religious background! We love Halloween and look forward to next year when we will have a few changes to keep everyone scared!

Halloween Recap!

Spencer Cole (RE/MAX 1st Realty) — Sat, 07 Nov 2009 01:37:45 -0800

Some people may have seen a bit of a spectacle in Botetourt County on Halloween thi syear. It began a couple weeks before Halloween with the installation of our Haunted Graveyard. It was set up over the next couple weeks and culminated in what I call "the show". We featured a full graveyard with over 24 tombstones, a flying ghost, an animated coffin, and moving corpse in a body bag and very scary looking bat that lowered itself over the doorway. And let's not forget the 12 volunteers who helped pull it off by operating the moving features and performing as ghosts and goblins who spooked the Trick-or-Treaters as they entered and exited the graveyard. Our neighbors were all very excited about it. We counted at least 95 children of all ages as well as their parents and anoth 10 adults tha tcame with no children just to check it out. The photos don't really do it justice as we run fog machines and strobe lights with spooky music to complete the effect.

Bedford County Land: 10.35 acres - Price Reduced!

Spencer Cole (RE/MAX 1st Realty) — Sat, 07 Nov 2009 01:21:55 -0800

We have a listing on Mentow Dr in Huddleston. It is land that consists of 2 lots. The first is a 1.32 acre parcel which is very level and completely cleared: a perfect building site. The second parcel is 9.03 acres adjoining the smaller lot. It is narrow at the road but hats much wider. Portions are cleared but mostly wooded. The nine acre lot starts out very level and begins to slope down about half way back as it becomes wooded. As you continue through the wooded are you come upon a clearing suitable for a home location. The smaller lot is priced at $35900 while the 9 acres is $59900. Both can be purchased together for $69900!!!! which is quite a discount. This land is convenient to Smith Mountain Lake and Bedford while just a 35 minute cruise to Roanoke. Mentow dr is a well maintained county road which is not paved but is slated to be. No idea when that could be but this land is located just about 1/4 mile from Crab Orchard Rd which is paved. Give me a ring and I'll give you simple directions so you an go see it for yourself!

38 acres with home for $35000 under tax assessment!

Spencer Cole (RE/MAX 1st Realty) — Sat, 07 Nov 2009 01:14:54 -0800

1450 Runnett Bag Rd with 38+ acres in Ferrum nice little 2 br, 1 bath home built in 1965 on 38+ acres in Ferrum, great views, lots of land, very private. New heat pump/central air listed for $99,950 (taht is over $35000 below tax assessmant). Home has had addition built onto it and features 1250 square feet of living space- quite large for a 2 bedroom home. Kitchen has been completely remodeled, replacement windows and located on a paved road. Land is 10% level, mostly hilly, excellent hunting and a stream on the property with trout! Call Spencer at 540-355-6399

New Franklin County Home for Sale, Hardy area

Spencer Cole (RE/MAX 1st Realty) — Sat, 07 Nov 2009 01:11:30 -0800

New Listing in franklin County. 2 bedroom, 1 bath excellent condition home. Hardwood floors, beautiful kitchen, soem carpet, very clean and a private location. On a 1/2 acre lot at 411 Coopers Cove Rd. Huge custom deck with nice views, wonderful gardens and flowers. Home features single floor living and is very close to Roanoke, and about 20 minutes to Smith Mountain Lake. Call Spencer for a private tour. Asking $129,950.

Goings on around Roanoke

Spencer Cole (RE/MAX 1st Realty) — Sat, 07 Nov 2009 01:06:25 -0800

Just a note about a fun event being held locally at Amrheins Winery. This weekend and next (11/7-8 and 11/14-15) is their soup and wine pairing event with live music by Ron Swann (He's great) The soups are always great and the wine is some of the best in the valley. The cost is $10 per person and you get your money's worth. We make it a point to go at least once per year. There is another event happening today at 2:00 at Virginia Mountain Vineyards in Fincastle. Not sure about the detainls on that one, but we like their wines too. So if you can make it up Bent Mountain, look for us at Amrheins today (11/7)

Goings on around Roanoke

Spencer Cole (RE/MAX 1st Realty) — Sat, 07 Nov 2009 01:05:57 -0800

More info about tax credit extension

Spencer Cole (RE/MAX 1st Realty) — Sat, 07 Nov 2009 00:59:34 -0800

This is an article recieved from: Daily Real Estate News | November 6, 2009 | Share Obama Signs Extended Tax Credit into Law Expected to contribute approximately $22 billion to the economy, Congress overwhelmingly passed a bipartisan measure this week extending the $8,000 home buyer tax credit to April 30, 2010. The legislation, which is part of a larger bill that also extends unemployment benefits, was signed into law by President Obama today. More people are now eligible to take advantage of the law, which includes a $6,500 tax credit for buyers who are current home owners and have lived in their home for five of the past eight years. Income limits for eligible home buyers were also expanded to $125,000 for single buyers and $225,000 for couples, up from $75,000 for individuals and $150,000 for couples. Qualifying home prices are capped at $800,000. NAR's Government Affairs Division has compiled facts on the changes made to the current tax credit. NAR members sent more than 500,000 letters to leaders in Congress and made nearly 13,000 telephone calls to Senate offices last weekend to encourage support. So far this year, REALTORS® have spent nearly $14 million lobbying Congress, according to federal campaign finance records compiled by the Center for Responsive Politics. Sen. Johnny Isakson, a Georgia Republican and a former member of NAR, was key in extending the credit, as well as pushing it through initially. Other prominent boosters include the National Association of Homebuilders and the Mortgage Bankers Association. Listen to NAR President Charles McMillan's podcast announcement. NAR economists estimate that approximately 2 million people will take advantage of the tax credit this year. Sources: NAR and The Associated Press, Julie Hirschfeld Davis (11/06/2009)

Homebuyer Tax Credit EXTENDED and improved!

Spencer Cole (RE/MAX 1st Realty) — Sat, 07 Nov 2009 00:38:33 -0800

Great news: Yesterday President Obama signed the homebuyers tax credit extension. It will now expire on April 30th 2010. The credit is still up to $8000 (10% of purchase price) for 1st time buyers. The definition of a 1st time buyer is someone who has not owned a home in the past 3 years. There have also been some changes such as raising the income limits and the addition of a credit up to $6500 for existing homeowners who have lived in their current homes for at least 5 of the past 8 years. This limit is to avoid fraud. The actual deadline now refers to having the home under contract by 4/30/10 but allows an additional 60 days to close escrow. There are many more details to the tax credit which may be best explained by a tax professional, but I have the basic information. This is great news for you, so keep looking!

How the Stimulus Plan May Affect Your Mortgage

Spencer Cole (RE/MAX 1st Realty) — Sat, 28 Feb 2009 01:09:55 -0800

Now that President Barack Obama’s $787 Billion Economic Stimulus Bill has been signed into law and will take effect on March 4, many American homeowners are anxiously wondering how this bill may affect the housing market. Despite primarily focusing on bolstering the economy by creating jobs and reviving spending, the bill includes steps to revitalize this critically important segment of the American economy. But what impact will the stimulus package directly have on your mortgage? President Obama’s plan, called the American Recovery and Reinvestment Act, is designed to address two different groups of homeowners: those who are current on payments but have high interest rates and not enough equity to qualify for refinance, and those who are at risk of losing their homes. The plan also intends to provide $200 billion in additional financial backing to Fannie Mae and Freddie Mac to increase money available for home lending. These steps will directly help homeowners and new home buyers seeking a new mortgage, says Michael Isaacs, president and CEO of Residential Finance Corporation (www.residentialfinance.com), a nationwide mortgage lender specializing in FHA refinances. “The stimulus package aims to make money more readily available for lenders to help those who are currently in need,” says Isaacs. “The American Recovery and Reinvestment Act will directly help those seeking to refinance out of bad mortgages as well as those looking to become homeowners for the first time.”