Central Arkansas' only "Real Estate Master" recipient from The Real Estate Training Institute
Tuesday, February 28, 2012
Tuesday, February 21, 2012
12 Ways To Sell Your House In This Crappy Market #6
12 Ways To Sell Your House In This Crappy Market
Finance 101
Realize it's harder to qualify for loans these days. Credit records are under greater scrutiny, and lenders are often demanding a 10-20 percent down payment and some pricing flexibility from the sellers, especially if the lender's appraisal doesn't reach the asking price.
Consider cash offers, even if they're not the highest. Reject too-low offers from homebuyers gently and with encouragement, telling them they're oh-so-close. You don't want to give away the farm, but you don't want to give it back to the bank either. These days, meeting halfway usually means meeting buyers on their half.
Monday, February 20, 2012
It's Only a RUMOR!
It's Only a RUMOR!
3.8% Tax Is Not a Transfer Tax on Real Estate: Tax time is nearing and once more rumors are circulating on the Internet and by e-mail that the health care reform law enacted two years ago includes a 3.8 percent transfer tax on real estate starting in 2013. That rumor is not true. It’s a tax on a very narrow band of investment income for high-wealth households (those who earn $250,000 in a joint return or $200,000 as an individual) that could come into play on the sale of a house if the sales gain is more than $500,000 for a married couple, or $250,000 for an individual.
Even in the unlikely event the sales gain is more than that amount, the tax would only apply based on other considerations having to do with the household’s income and tax situation. The bottom line is that the tax, which was imposed to help shore up Medicare, will hit only some portion of investment income.
Source: National Association of REALTORS®
Friday, February 17, 2012
FSBO Site Founder comments on site's effectiveness
FSBO Site Founder comments on site's effectiveness
ForSaleByOwner.com founder and former chief operating officer Colby Sambrotto made headlines in August 2011 when he hired a real estate broker to sell his Manhattan condo. Sambrotto recently commented, “I learned a lot of lessons at ForSaleByOwner.com, ….but it didn’t sell enough houses to be the game changer I thought it would be.” he told REALTOR® Magazine.
Today, around 95% of all real estate transactions across the US are conducted by a licensed real estate agent…..for protection, knowledge, lower days on market and higher sales price.
12 Ways To Sell Your House In This Crappy Market #5
12 Ways To Sell Your House In This Crappy Market
Don't fall prey
Fraudsters are targeting distressed homeowners with "deals" that can sound perfectly legit. Some offer loan modifications for upfront fees while others offer fee-based "help" in navigating government housing assistance programs, sometimes claiming they're attorneys. There are also con-artist "investors" compelling desperate owners to sign over their homes with quitclaim deeds in return for a typically empty promise to remain there indefinitely. Others are telling former owners they can get their homes back for a lump sum. Be forewarned: Never sign blank documents or documents with blank lines.
If you're unsure of an offer, have an attorney or other trusted adviser, such as a REALTOR, look it over. Keep in mind that a law barring firms -- except attorneys -- from charging upfront fees for mortgage relief or mortgage modification took effect in 2011. It's called the Mortgage Assistance Relief Services Rule.
Tuesday, February 7, 2012
12 Ways To Sell Your House In This Crappy Market #4
12 Ways To Sell Your House In This Crappy Market
Trump your techno-fears
Hire a listing agent steeped in mobile platforms. Sellers and buyers are routinely using Facebook and other social media to sell and seek, not to mention dozens of online selling sites. Some owners are even making YouTube videos to showcase their homes, making it easier to quickly link to potential buyers via email. There's also an abundance of smartphone apps cropping up to review real estate listings and refine searches.
Wednesday, February 1, 2012
Home affordability best since 1971
Home Affordability Best Since 1971
Home affordability is at 1971 levels, due to falling home prices and record low mortgage rates, pushing home ownership in reach to more families, according to the U.S. Department of Housing and Urban Development (HUD). Home owners are bringing in nearly double the median income they need to cover the cost of an average home, HousingPredictor reports.
"With interest rates at historically low levels and markets across the country beginning to improve, home ownership is within reach of more households,” Bob Nielsen, chairman of the National Association of Home Builders, said in a statement.
Home sales have been ticking up, according to recent reports by the National Association of REALTORS®, the National Association of Home Builders, as well as the Obama administration’s December Housing Scorecard.
This means that now is the best time since 1971 to purchase a home, as a residence or as investment property. Call me to find out more, plus ask about my VIP Buyer’s Guaranteee – I guarantee to save you $5000 on your next home purchase, or I will pay you $500!
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