New Grant for Military First-Time Home Buyers

A new program is offering financial assistance to first-time home buyers who are veterans or active-duty military members. The Pentagon Federal Credit Union Foundation, a nonprofit national organization, is offering the assistance through its Dream Makers program.

Active duty personnel, veterans, retired members of the military, and employees of the U.S. Department of Defense and the Department of Homeland Security may be eligible for a grant up to $5,000 to use on down payments and closing costs when buying their first home. The grants can be applied to a mortgage from any financial institution.

“Members of the military often put off buying a home earlier in their careers because they’re moving around the country a lot,” says Kate Kohler, chief operating officer for the PenFed Foundation. “We want to make sure they have resources to add immediate equity into their home when they decide to buy.”

To view eligibility requirements, visit www.pentagonfoundation.org/dreammakers.

Source: “Veterans and Active Duty Can Get Financial Help When Buying Their First Home,” Pentagon Federal Credit Union Foundation (July 25, 2011)

Posted via email from Scott Deaton's Blog

Comments from a for sale by owner

Sometimes in real estate, I am not able to help everyone who needs to sell their home.  But trying to do it on your own can be a headache and very complicated ordeal.  Here is a quote from a friend who is no longer trying the ‘for sale by owner’ process:  “Thank you for all of the help you have given us with the house… we have decided to throw in the towel on this attempt.  FSBO buyers are ignorant sharks and if I have to talk to one more I just might go batty!  Most we have talked to say… “oh you have a beautiful home,” “It will be perfect…” and if they throw an offer out it has been for 110k or lower!  One guy told me he would never pay over 100k for our house.”

Posted via email from Scott Deaton's Blog

Shocking real estate news

Many Home Owners in Denial About Price

More home owners, particularly those who bought their homes in 2007 or later, are overpricing their properties when trying to sell them, according to a new analysis from Zillow.  Home owners who purchased their home in 2007 or later are overpricing their homes by an average of 14 percent, according to Zillow.

While sellers who purchased their home prior to the housing bubble also overprice their homes, they don’t overprice by as much, the study finds. For example, home sellers who bought their home prior to 2002 are pricing their homes on average about 11.6 percent above market value; those who bought between 2002 and 2006 are pricing their homes 9.3 percent over market value.

"Post-bubble buyers seem to believe they escaped the worst of the housing recession, as evidenced by how they price their homes today," says Stan Humphries, Zillow’s chief economist. "But 2006 was just the beginning of the housing recession, and it is continuing in earnest to this day. That means that even people who bought after the bubble burst need to break out the pencil and paper and do serious research into what has happened in their market since they first bought their home, whether it was four years ago or six months ago.”

In its analysis, Zillow compared the asking price of 1 million homes for sale to the home’s previous purchase price and factored in the home’s estimated current value.

Source: “Sellers Who Bought Post-Bubble Guilty of Overpricing Homes; More Likely to Base Asking Price on Original Price, Rather Than Current Market Conditions,” Zillow (July 14, 2011)

Posted via email from Scott Deaton's Blog

Who Are The Best Real Estate Agents in Little Rock

Little Rock Soiree polled local title companies, mortgage companies, real estate agencies and new home buyers to find the best real estate agents in Little Rock, based on customer service-related criteria. 

Participants were asked to nominate only real estate agents they knew through personal experience.

The nominated agents were evaluated by participants using the following indicators: customer service, communication, finding the right home, integrity, negotiation, marketing, market knowledge, closing preparation and overall satisfaction.  Participants were not allowed to vote for the same agent more than once.

Nominations were accepted through paper and online ballots. Nominated agents were then scored and screened by the Little Rock Realtors Association to ensure their licenses were current and that they had no disciplinary action against them.

Little Rock Soirée’s Best Real Estate Agents 2011:

Dennis Adkins	Adkins McNeill Smith & Associates
Claire Brown and Becky Farrow	Adkins McNeill Smith & Associates
Shawn Clark	The Janet Jones Co.
Carolyn Cobb	Coldwell Banker RPM
Barbara Crook	Coldwell Banker RPM
Shelly Dahl	Exit Realty - Deaton Group
Mark Daven	The Charlotte John Co.
Scott Deaton	Exit Realty - Deaton Group
Susan Desselle	The Charlotte John Co.
Walt Dickinson	Re/Max Affiliates
Marvin Eason	Re/Max Affiliates
Whitney Elmore	Coldwell Banker RPM
Lynn Evans	McKimmey Associates Realtors
Sue Fess	Crye-Leike Realtors
Lisa Fowler	Coldwell Banker RPM
Amber Gibbons	Charlotte John Company
Gary Goldsby	Coldwell Banker RPM
Linda Green	Adkins McNeill Smith & Associates
Scott Heffington	Crye-Leike Realtors
Diane Hinkle	The Charlotte John Co.
Vic Hiryak	Coldwell Banker RPM
Lolly Honea	Keller Williams Realty
Annette Hurley and Candi Grace	Keller Williams Realty
Scott Johnson	The Janet Jones Co.
Stacy Johnson	Pulaski Heights Realty
Casey Jones	The Janet Jones Company
Charles Keener	Re/Max Affiliates
Robert Klein	The Charlotte John Co.
Jimmy Lasley	The Lasley Co.
Laurel Lawrence	The Janet Jones Co.
Kevin Marsh	Keller Williams
Alice Mattox	Ausum Realty
Johnson Melhorn	The Janet Jones Company
Valerie Moran	Crye-Leike Realtors
Jean Noell	Coldwell Banker RPM
Amber Perry	Waters & Waters Realty
Susan Reynolds	The Janet Jones Co.
Michelle Sanders	Chenal Properties
Scott Sandlin	Coldwell Banker RPM
John Selva	Pulaski Heights Realty
Ellen Serven Koswick	Re/Max Properties
Beckie Sudduth and Marci Richardson	Adkins McNeill Smith & Associates
Patrick Sullenger	The Janet Jones Co.
Barbara Swesey	Adkins McNeill Smith & Associates
Becky Tanner	Keller Williams
Debbie Teague	The Janet Jones Co.
Stephanie Tharp	Crye-Leike Realtors
Andrew Webre	Adkins McNeill Smith & Associates

via inarkansas.com

Thanks to my clients for voting me one of Little Rock's best real estate agents! I appreciate it! See the link for the full article including all the areas great real estate agents.

Posted via email from Scott Deaton's Blog