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The following is a news alert from the National Association of Realtors®
The National Association of Realtors® is now accepting applications for the 11th annual REALTOR® Magazine Good Neighbor Awards. The awards recognize Realtors® for their commitment to volunteer service.
The five winners will be announced in November in REALTOR® Magazine. Each winner will be recognized at the 2010 REALTORS® Conference & Expo in New Orleans and receive travel expenses to the conference, national media exposure for his or her community cause, and a $10,000 grant for the charity. In addition to the winners, five honorable mentions will each receive a $2,500 grant.
"We all know that Realtors® build communities," said NAR President Vicki Cox Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz. "The Good Neighbor Awards gives us the opportunity to honor the very best of our Realtor® volunteers who make an incredible commitment of their time and energy to help those in need."
Last year's winners contributed a combined total of nearly 8,000 hours to their causes and drew a standing ovation from more than 7,000 Realtors® and guests during the annual conference's general session in San Diego. The 2009 winners were Greg Adamson, Prudential Utah Real Estate, American Fork, Utah, Heart 2 Home Foundation; Cindy Johnson, Dona Christensen Realty, Woodbury, Minn., The Arc of Minnesota; Helen Marotto, EXIT Homeplace Realty, Hampstead, N.C., Cape Fear Guardian Ad Litem Assn.; Regina Ragon, Prudential Realty Center, Flintstone, Ga., Latin American Community Development; and Samuel Thomas Jr., Imani Realty & Assocs., Willingboro, N.J., QUEST Community Outreach.
"REALTOR® Magazine's Good Neighbor Awards recognize the important role Realtors® play as volunteers in their communities," said REALTOR® Magazine Editorial Director Pamela Geurds Kabati. "We hope highlighting their stories inspires more Realtors® to give their time to important community organizations."
Previous Good Neighbor Award winners say their charities have benefited from the grant money and the increased public exposure. "The Good Neighbor Awards has increased the exposure of The Sport of Giving from our local community to a national audience," said 2008 Good Neighbor Award Winner Sheila Stevens, Prudential Georgia Realty, Suwanee, Ga., founder of The Sport of Giving. "The inquiries that are flowing in to host events in other parts of the country have allowed us to launch new events and help more people. Our mission has become a reality thanks to the Good Neighbor Awards."
REALTOR® Magazine's Good Neighbor Awards is sponsored by Lowe's. In addition to the grant money, each winner will receive a $2,000 Lowe's gift card and each honorable mention will receive a $1,000 Lowe's gift card.
Good Neighbor Awards entries must be received by Friday, May 21, 2010. For more details and a nomination form, call 800/874-6500, visit www.REALTOR.org/gna, or see the March issue of REALTOR® Magazine.
Lowe's (www.lowes.com) has worked with customers to maintain and improve their homes since 1946. Lowe's is proud to support the Good Neighbor Awards. Lowe's is a proud supporter of Habitat for Humanity International, American Red Cross, SkillsUSA/SkillsCanada, and The Nature Conservancy, in addition to numerous nonprofit organizations and programs that help communities in North America. In 2009, Lowe's and the Lowe's Charitable and Educational Foundation together contributed more than $30 million to support community and education projects in North America. Lowe's also encourages volunteerism through the Lowe's Heroes program, a company-wide employee volunteer initiative. Lowe's, a Realtor® Benefits Partner, brings Realtors® exclusive benefits to help build relationships with their customers, generate referrals and expand their client base. The benefits program is featured on www.LowesRealtorBenefits.com.
The National Association of Realtors®, "The Voice for Real Estate," is America's largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.
How Does Your Garden Grow? Start Seedlings Indoors
There's nothing like a lush garden to improve your home's curb appeal. An established flower garden or vegetable garden can actually add value to your home and property. For many regions, now is the time to begin planning your garden strategy.
In cooler climates it's a good idea to start some vegetables and flowers indoors. Here are a few tips to get you started:
1. Don't start your plants indoors too soon. If you are new to the area, research the traditional date range for the last spring frost and plan accordingly.
2. Eggplants, tomatoes, peppers, broccoli, Brussels sprouts, cabbage, cauliflower, cucumbers, eggplants, leeks, head lettuce, and onions are just a few of the vegetables that will benefit from an early start indoors.
3. Flowers slow to mature can also be planted indoors in order to make the green thumb next door green with garden envy. Some of these include impatiens, petunias, snapdragons, and fibrous begonias.
4. Be careful not to start plants with sensitive roots indoors. Vegetables such as peas, beans, corn, and sweetpeas like to settle in to their summer homes and not be disturbed. You can stunt the growth of these by replanting them after they have already taken root.
5. Reuse containers each year, but keep your indoor planting containers clean. Commercial flats can be used over and over and they usually come with trays to catch runaway water.
6. Try a mixture of vermiculite, perlite, and peat moss for seed starting. It's easy to overwater indoor starts and rot their roots. Make sure your seedlings have plenty of air circulation, a warm (but not hot) environment (70 to 75 degrees Fahrenheit is just about right), and plenty of strong light.
7. Don't overcrowd seeds. Encourage them to grow freely by giving them plenty of room.
8. Don't let containers and plant medium dry out completely, but don't over water them either.
9. Label and date containers. You could forget what you planted, and when you planted it!
10. Gradually toughen plants so they can survive drying winds and changing temperatures. Brush your hand gently across them daily. As they get older, consider using a fan do simulate wind for a few hours every day.
If you're looking for a home with a beautiful garden spot, contact us today! We're your area real estate specialists.
Many states in America are grappling with blizzards and freezing temperatures right now. If you're not in one of those locations, consider your self lucky! If you are, staying safe and warm is probably your primary focus.
Icy walkways and driveways can be dangerous. In some cases, not even a shovel or snow-blower can protect you from that thin, dark, barely visible layer of ice that bonds to surfaces and doesn't thaw until spring.
It can be tempting to buy chemicals at the local hardware store to remove stubborn frozen leftovers. They are very effective. But before you do buy, know what you're shopping for and understand the potential residual effects to your yard,concrete paths, and to the environment in general.
Remove Deep Snow
It is not cost effective to melt deep snow with chemicals. It can also be dangerous to the surrounding environment. Before attempting to remove ice that has bonded to your walkways and driveways remove as much of the snow as you can with a shovel, snow blower, or plow.
Although ice may appear to be frozen on top of pavement, ice actually bonds to porous surfaces. In order to properly remove the ice, it's important to actually break that bond. Some chemical products are designed to do just that. Others are designed to prevent bonds from forming at all.
Choosing Between a De-icer and an Anti-icer
All chemicals for icy winter conditions are not created equal. There are two basic groups:
1. De-icers
2. Anti-icers
De-icers are generally spread over snow or ice. Remove as much as possible before using these chemical's intended to get into the pavement's surface and break the icy bond. De-icers can actually make the snow removal process easier and less work with a much cleaner result.
Anti-icers should be applied before it snows. A little preventative maintenance can go a long way. These chemicals are designed to prevent snow and ice from bonding to paved surfaces. Many manufacturers combine the two products.
Rock Salt, 'to Use or Not to Use'
Rock salt is pretty cost effective. It's inexpensive and easy to spread. However, as harmless and natural as rock salt might seem, it has some pretty nasty side effects.
Rock salt is known to:
Potential risks researched by the U.S. Environmental Protection Agency sent manufacturers looking for environmentally-friendly alternatives. The key to using any chemical is to follow the manufacturer's instructions closely and avoid overuse.
Carefully read the label of any chemical product before you buy it. Better yet, consider strategies that will help you avoid the use of chemicals at all.
Make Technology a Part of the Plan
There are many strategies used today to combat ice. If you are building a home in a location known for harsh weather, consider incorporating some of these strategies. If you are remodeling, or rebuilding decks, sidewalks and driveways, now is a good time to consider your alternatives. You don't have to completely rebuild to simplify the process, there are alternatives you can add on with very little time or expense.
Research the use of:
Experienced property managers know maintaining and replacing dirty, worn or damaged carpeting is a major expense. There are many variables that can impact carpeting in a rental unit ranging from tenant traffic to the existence to pets to the quality of carpet you install in the first place.
While you may not have control over all factors that impact carpeting in rental units, there are many ways to extend the life of carpeting and save money when it comes to repairing and replacing it.
1. Establish clear rules for tenants who occupy your rental homes. Pets can be hard on carpeting. If you plan to preserve existing carpeting by eliminating pets from the equation, spell it out in your rental agreement and clarify whether or not you allow pets verbally with occupants. If you do plan to allow pets, plan to replace carpet more often and build a carpeting allowance into your maintenance budget. Consider requiring a non-refundable carpet cleaning fee upon move-in to be used when the tenant moves out. People who want to house their pets too are often willing to pay an increased deposit for the privilege. Make it clear that carpet damage due to pets will be recovered from the deposit.
2. Install carpeting that is durable and will withstand normal wear and tear. If you do allow pets, install less expensive carpet that can be easily replaced. It is often easier to replace carpeting than it is to clean it. Accidents and spills happen. Carpet gets worn and torn regardless of the grade you use. Rental units are notorious for frequent tenants moving in and out. When furniture is moved across the floor, floor coverings can be damaged. When you buy carpet, determine the life expectancy of the carpet and budget accordingly. There are many factors to consider when you factor the life expectancy including the types of tenants to whom you plan to rent. Including:
a. The average age of your tenants (more mature people tend to be less rough on carpets)
b. The number of children who will be living in the home
c. The climate where the home is located (excess moisture can damage carpets naturally)
d. Landscaping immediately around the home (have you installed concrete, lawn or other elements that will minimize the tracking of mud and dirt onto carpets?)
e. The average length of stay (when tenants live in a home for an extended period of time, they are more likely to take better care of the carpet-if tenants stay for more than five years, it makes sense to invest in a higher grade of carpeting.)
On Feb. 2 the National Association of Realtors' Chief Economist, Lawrence Yun, said home sale statistics are skewed by the federal home buyer tax credit that sent some shoppers scrambling for a closing in 2009, and others racing to get in on a 2010 expanded and extended version of the federal break.
In fact, Yun said, pending home sales have stabilized and are up from those reported last year. The First Time Homebuyer Tax Credit threatened to sunset at the end of November in 2009. That caused an upswing in the number of homes sold. Then, the tax credit program was extended and expanded. The April 30 deadline for the extension is looming and home sales are again on the rise. The swings can be confusing.
In an NAR press release, Yun said, "These swings are masking the underlying trend, which is a broad improvement over year-ago levels. December activity was the fifth highest monthly tally in two years."
According to NAR, the Pending Housing Sales Index (PHSI) is a good market indicator. Following is a brief look at its recent performance.
Yun projects the extended and expanded tax credit will encourage 2.4 million households to take the credit in 2010. He expects new home sales to remain low, but existing home sales should rise to about 5.6 million this year. In 2009 there were 5.16 million existing-home sales. The increase in sales could help stabilize the market overall. It's simply a matter of supply and demand.
Spruce up the Aroma of Your Home to Sell
When homebuyers walk into a home for sale all five senses are actively scanning the environment. The sense of smell can send a strong message to the brain while the brain is busy formulating a first impression.
Regardless of your home’s appearance, an unpleasant odor can turn buyers away. At the same time, pleasant aromas can invoke feelings of comfort, relaxation, happiness and peace.
Carefully selected scents can actually help you get more dollars out of your home when combined with other staging methods. We have experience in creating just the right setting to present your home for sale. Feel free to contact us for a no obligation consultation and tips to make your property even more desirable.
1. Dirt Stinks.
Let’s face it, no matter what kind of candle, spray or air freshener you use the fine scents will not cover up the smell of an unclean environment. The first smell to create is a clean smell. Don’t use overpowering industrial cleaners that leave strong scents behind. Even those scents are sometimes undesirable.
2. People are Sensitive to Smells
Once your house is smelling clean and fresh, be very careful about the scents and methods of distributing those scents. Many people have allergies to spray air fresheners. Other people simply feel overpowered by the scent of a strong burning candle. Still others may associate certain smells with negative memories or experiences in their lives. Strong, overpowering smells may be offensive and may make buyers suspicious you are trying to cover up a bad smell.
3. Natural, Subtle Scents are Best
Play it safe by creating an atmosphere of natural scents and smells.
Place fresh, fragrant flowers in strategic locations throughout the home for a subtle, natural scent. Flowers from your own garden are wonderful! If not available, fresh flowers from the grocer will do just fine.
Consider whipping up a batch of fresh chocolate chip cookies as your guests arrive to create a homey feeling. Maybe you could choose the day of their visit to put a nice stew in the crock pot.
Creating just the right ambiance in your home when staging it to sell could net thousands more in the final sales price. Remember, don’t over do it. Natural is best.
Who are Fannie Mae and Freddie Mac and What do They Have to Do with My Mortgage?
Bankers, real estate sales associates and even journalists use the terms “Fannie Mae” and “Freddie Mac” like the names of old friends -- veterans in the mortgage game. We’ve all heard the term and feel like we should remember good old Fannie pinching our cheeks at a family reunion while Freddie flipped the burgers. Don’t be embarrassed if you don’t remember them or even know who they are. Don’t fret if you don’t even know what they are. You’re in good company.
At our company we have challenged ourselves to help educate our clients and potential clients by educating ourselves. Consider this a little brush up on loan lingo that will wipe away that ever so dim question mark that pops up in your mind when these terms are mentioned. Feel free to contact us today and we’ll be glad to answer all of your questions about mortgage-related issues -- or at least we’ll find someone else who can!
Fannie Mae does not Wear a Straw Hat or Crochet Placemats
Fannie Mae is a friendly name for the Federal National Mortgage Association (FNMA). I know, that doesn’t help much, but it’s a start. Fannie Mae is actually a stockholder-owned corporation. Congress chartered the organization in 1968 as a government-sponsored enterprise. The association was actually founded in 1938 during the Great Depression.
The mission of the association is to “provide liquidity and stability to the U.S. housing and mortgage markets,” according to Fannie Mae’s website at www.fanniemae.com.
Fannie Mae works in the secondary mortgage market. It doesn’t make loans directly to buyers, but rather works with primary lenders like mortgage bankers, brokers, and others to make sure they have the funds available to give borrowers affordable rates. Mortgage investments are funded through debt securities in the U.S. domestic market and in international capital markets.
Unfortunately, Fannie Mae -- sweet as she is -- ran into some trouble as a private shareholder-owned company. On Sept. 6, 2008, Federal Housing Finance Agency Director James Lockhart put his agency in charge of overseeing the private company. Fannie Mae was bailed out of a major economic crisis with up to $100 billion in capital from the U.S. Department of the Treasury to ensure the housing and mortgage markets stayed liquid. Basically this means the federal government took legal control of the private company in exchange for financial assistance. This was considered a broad and sweeping government intervention in a private industry unlike any seen in decades in America.
Fannie Mae works in three separate businesses:
These entities “work together to provide services, products, and solutions to lender partners and a broad range of housing partners,” according to http://www.fanniemae.com.
Freddie Mac is Not Your Favorite Uncle
Freddie Mac has certainly helped the mortgage industry, but rather than a friendly old man playing checkers in the park, Freddie Mac is known by a much more distinguished name in the US Government: Federal Home Loan Mortgage Corporation.
Freddie Mac, like Fannie Mae, is a private government sponsored enterprise. It was created in 1970 to help grow the mortgage secondary market. Freddie Mac buys mortgages on the secondary market, pools them together and sells them. They are sold as mortgage-backed securities on what we know as the open market.
This is a good plan because it increases the amount of money out there for mortgages. Like Fannie Mae, Lockhart locked up conservatorship of Freddie Mac in September 2008 to prevent further collapse of a mortgage market in crisis.
Where does Freddie Mac’s money come from? The enterprise charges guarantee fees on loans that it purchases and puts into mortgage-backed security bonds. Freddie Mac assumes the risk on these mortgages and lenders are happy to let Freddie Mac have it and the fees. Freddy Mac guarantees a lender will get back principal and interest on such loans whether or not the borrower actually pays.
As of 2008, Fannie Mae and Freddie Mac owned or guaranteed about $12 trillion of the country’s mortgage market.
Are the Feds Really Making Homes Affordable?
After America’s housing market slumped to staggering lows in the fourth quarter of 2008, the Obama Administration made addressing key problems at the core of the country’s financial crisis a top priority.
Before the first quarter of 2009 was over, the Administration introduced a Financial Stability Plan to sure up our economy. The plan included the critical “Making Home Affordable“ program to stabilize the housing market. The plan targets 7 to 9 million Americans who could benefit from a reduction in their monthly mortgage payments.
A government consumer website at www.MakingHomeAffordable.gov gives the low-down on this recovery effort. I wanted to make you aware of the highlights. As a professional sales associate, I want to make sure you are up to date and in tune with the government’s efforts to assist many of you who could undoubtedly benefit from this program. If, after reading this, you are unsure of your status please feel free to contact me for a no-obligation consultation about how this program may help you. We will explain how your lender or a qualified program consultant can get you on the right track to reducing your mortgage payments.
Millions of home loans are guaranteed by Fannie Mae or Freddie Mac. This program gives 4 to 5 million homeowners with guaranteed loans the chance to refinance in order to bring house payments down to a manageable amount.
According to the program’s website, “The Home Affordable Modification Program commits $75 billion to keep up to 3 to 4 million Americans in their homes by preventing avoidable foreclosures.” Bottom line, not everyone will qualify and those who wait too late could miss the boat.
Even if you are not behind on your house payments this program could work for you. People who have not been able to take advantage of lower interest rates by refinancing their homes with mortgages guaranteed by Fannie Mae or Freddie Mac may be able to reduce payments based on a lower interest rate alone.
Do You Qualify?
There’s only one way to find out if you qualify and that is to research. Don’t be afraid to ask questions and get all of the details upfront if you’re in need of some assistance.
At http://www.MakingHomeAffordable.gov, there are handy self-assessment tools and calculators that can help determine whether or not the Obama Administration’s program will help. On this website you can:
A Word of Caution
Please, don’t get caught up on Making Home Affordable scams. The program warns there are people out there waiting to take advantage of struggling homeowners looking for a way out. “There is never a fee to get assistance or information about Making Home Affordable from your lender or a HUD-approved housing counselor,” according to http://www.MakingHomeAffordable.com. Never, but never submit mortgage payments to anyone but your mortgage company without approval in writing from your lender.
If you feel threatened by a pending foreclosure or are struggling to make your house payments, you might be frightened and are surely overwrought with concern. Contact us for help. You don’t have to do this alone. This is just one option for people who are struggling to make house payments. If you don’t qualify, we may be able to assist you with a short sale to help protect you from foreclosure.
Don’t Confuse Real Estate Agents with REALTORS®It’s a common misunderstanding. More often than not, people use the term REALTOR® in reference to real estate agents everywhere. I don’t mind the reference, but would like to clarify the difference between a REALTOR® and a real estate agent to give credit where credit is due. It’s important to work with real estate sales associated you can trust and those with the coveted REALTOR® designation have gone the extra mile to participate in a professional association intended to maintain professional standards in our industry.
In truth, sales associates should use the official designation of REALTOR® only when they have met standards outlined by the National Association of Realtors.
We want you to know that all of our sales associates pride themselves on striving for the professional distinction of being REALTORS®. We think you’ll experience the difference in our professionalism, knowledge and vast networks as a result of our participation in the NAR.
What is the National Association of REALTORS®?
The National Association of REALTORS® is North America’s largest trade association. As of November 2008, it represented more than 1.2 million members. The organization offers institutes, societies, and councils for its REALTORS® its members are heavily involved in every aspect of the residential and commercial real estate industry.
Because the National Association of REALTORS® is a self-regulating entity, its members are sworn to adhere to a very strict code of ethics and standards of practice. Membership affords an opportunity for a wide network of professionals who facilitate each others’ professional development. The National Association of REALTORS® collectively conducts research, the results of which are made available to each member REALTOR®.
The NAR is an historic organization founded in 1908. It began with 120 members. It’s made up of residential and commercial REALTORS® who are:
NAR members participate in more than 1,700 local associations and boards. The organization claims 54 state and territory associations of REALTORS®
The National Association of REALTORS® is a powerful entity when it comes to dealing with government and lawmakers. NAR is committed to “the purpose of preserving the free enterprise system and the right to own real property,” according to the NAR’s Website.
The point I’m trying to make here is that it’s important to identify the professional standards of any Realtor in our area or anywhere you plan to entrust legal property transactions to a professional real estate associate. We hold our agents to the highest standards. We can’t wait to be of service to you whether you’re buying or selling commercial, residential, or investment property. Contact us today!
As many Americans rearrange their lives due to the threat or execution of home foreclosure, most Americans are forced to take a better look at our financial practices.
Banks are holding tighter to their money. Lenders are looking closer at borrowers’ credit histories, assets, employment histories and overall ability to repay debt. The federal government is doing the same thing to banks. We’re all checking each other out. Now is the time for you to evaluate your own financial scenario and decide just what you can really afford to buy.
Take off the rose-colored glasses. Let’s look at this realistically. Why not let us help you analyze your current financial situation? We’ll help you determine just how much you can afford to pay for housing-related costs each month. We’ll also help you determine how much you should be willing to pay for a home. If you’re not quite ready, but know you want to buy a home in the future, we can help you take steps toward your next home purchase.
Even though homes are essentially on sale right now, this is no time to abandon all reason and take on a debt you can’t really afford. The real estate market - like every other financial market in the world - is fickle. we encourage only good, sound, sustainable investments for solid buyers.
How much home can you afford?
There are many different lending programs for homebuyers today. As the country goes through a recovery period, credit will be tight for awhile and a loan will be harder for some people to get. However, home loans are absolutely still available and lenders are eager to help people buy properties.
Check Your Credit
When you begin shopping for a home loan, check your credit report for any potential problem areas. Your ability to get a home loan and the interest rate you pay will be directly impacted by your credit score.
Federal law entitles you to one free credit report from each agency per year. Get your free reports at www.annualcreditreport.com or contact one of the following agencies:
Debt-to-Income Ratio Important
In general, lenders want to see a total 41 to 45 percent debt-to-income ratio including your housing expenses. Housing expenses include the cost of private mortgage insurance (PMI) if your down payment is less than 20 percent as well as taxes and homeowners insurance.
Make a list comparing your debt and income when you first start shopping for a home loan. How much do you think you can you comfortably afford to pay on a home loan? Never hide expenses that don’t show up on your credit report. False reporting when applying for a home loan could lead to foreclosure on your home loan. When researching the cost of your home loan, ask about:
In order to calculate about how much home you can buy, visitour website’s handy Mortgage Calculator located on the full details page of each property listing. Try different scenarios to calculate and recalculate the total price you can afford to pay for a home.
We list homes in every price range. You can search for homes on our website right now. You can even set your own search criteria to ensure you are looking at all of the properties within your price range! We are here to help.
