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Marysville, Ohio, June 2011. Potential home buyers are missing wonderful opportunities.  Recent home sales are indicating that prices for move in ready homes have dropped considerably in the past 12 months.  In Union County (and some areas of Delaware County) home buyers can take advantage of USDA financing. These are rural development loans that work for homes on under 5 acre parcels without large outbuildings that pass FHA condition requirements.  A qualified buyer with good credit CAN purchase a home with $0 down, no PMI required as part of the payment and at 30 year fixed rates well below 5%! If you are considering renting in the area, you may want to look into what your payment would be in a home purchase.  This is NOT limited to first time home buyers. So if you are looking to move up or downsize from your current home, you very well may qualify for this loan program.

Do not let the media scare you with tales of the woes of home ownership.  You can find many move in ready homes priced very reasonably that you can call your own.  Don't fall into the risky business of "lease purchase" properties that generally do not work out as planned (See lease/purchase articles within my blog). It is quite likely if you have maintained good credit that you do not have to pay high rents. You may qualify to own a home for hundreds less per month with a guaranteed fixed rate loan.  Why let the landlords be the only winners when the market recovers?

For more information, contact Vicki Owens with Best Homes Real Estate of Marysville at 937-644-3385, 614-440-5174 email to movetomarysville@gmail.com and visit www.movetomarysville.com. Work with an Accredited Buyers Agent, a local expert, with the experience, credentials and reputation that you deserve when making such a big decision.  Integrity, service, results.

2011 Is off and running to a good start in the Marysville area.  As of May 7, there are 238 Active listings available to home buyers.  Of those, 24, around 10%, are indicated to be short sales, foreclosure, or auction properties.  This is a good indication that our market, in Marysville School District, is beginning to recover from the housing slump. 

The average list price from homes in our area is $190,959, and the average sold price is $169,078.  This may be an indication that we do have a few home sellers that have either overpriced their properties or are not particularly interested in selling their home in today’s market environment.  For the most part, buyer’s will require that a home appraise at or above the purchase price that they are paying. 

Currently, there are 52 homes in contract or pending inspections and financing to sell.  11 of those 52, or a little more than 21% of those properties, are indicated as short sales, foreclosures or HUD properties.  This shows that challenged properties are still dominating the sold statistics.  Buyers who have the resources to purchase a “fixer upper” are getting good deals.  However, we are seeing less of this indicating buyers may want to prepare for more move in ready properties that will command a higher price.  In other words, buyers who were waiting for the bottom of the move in ready market have missed it and prices are creeping up.  Good news for sellers that homes are appraising at a little better price than in 2010.

There have been 79 properties sold so far in 2011.  At the same time in 2010, there were 94 properties recorded as sold.  However, the average sold price in 2010 was $159,572.  In 2011, the average sale price is $161,449.  Not a big recovery in price, but indicating some improvement.  Keep in mind too, in today’s market, we are not seeing any stimulus packages for home buyers.  What is driving today’s market is a buyer’s desire to purchase and taking advantage of great interest rates.  Now, many times below 5% and with a payment below any rent price they might get.  Qualifying is tougher.  But for those buyers with their credit in order, homes can still close in 30-45 days. 

Days on the market today have stepped up to an average of 128, whereas in 2010 was indicated at 87 for the same time period.  Today, we are seeing more cash buyers, buyers will more money to put down, and the best homes that are priced correctly are going into contract quickly.  Unless a buyer has cash and  is looking for a rehab property, most are seeking a move in ready home that is priced competitively.  Many have waited for that “right” house to come on to OR come back on to the market at the price they are willing to pay for quite some time now.  Also, move up buyers who are waiting for their homes to get an acceptable offer need to move fast once they have a contract.  Overall, less homes are selling and at a slower clip, but at a little higher price.  Again, indicating some market recovery.

For more information, an analysis of your current home, or information on great homes and financing available to purchase, contact Vicki Owens, ABR, CRS, GRI, SFR, of Best Homes Real Estate.  Servicing Marysville and areas within a 30 mile radius in Central Ohio, she comes highly recommended by home buyers and sellers.  Visit www.movetomarysville.com or call Vicki today at 937-644-3385 or 614-440-5174 for assistance in buyer or selling your best home!

Submitted by Vicki Owens, ABR, CRS, GRI, SFR, Best Homes Real Estate, Marysville, Ohio

Heads up to owners with homes on the market or anticipating a future sale in 2011.  If you live in a newer home in a subdivided community, you may want to read the fine print from your builder about transferrable warranties as well as from your Home Owners Association about transfer fees.

If you live in a community that has a Home Owners Association, you may be paying fees annually, quarterly or even monthly to your association to care for common areas of your neighborhood.  But did you know that when you go to sell your home, your association may likely charge a “transfer fee”?  For years this has gone on with condominium communities and was expected.  As more and more neighborhoods turn over responsibility for the operation of their association to professional property management companies, we are seeing these fees be put into place.  Anywhere from $50 to $300 that will be the responsibility of the home seller.  For what?  To change the owner name in their database.  Also, with lenders being more stringent in underwriting, we are seeing more and more fees also charged to them for documents held by the association, like rules, covenants and insurance policy records.  If you receive notice about your home owners association, you may want to check this out and get a run down of extra fees they may have in place. If you have a recent addition of an HOA in your community, it is important that you read the fine print and details.  It may sound like a drop in the bucket right now, but when you start adding up the costs to sell your home, this can make a difference. 

Do you have a transferrable builders warranty?  Some builders have recently put into place a transfer fee for the new owner to take over the warranty.  Typically, the new owner would complete a card or go on line and register as the new owner with the home builder at no charge.  These warranties are generally 20 to 30 years from the date of build and cover the structure and sometimes dry basement.  A nice peace of mind thing to have and valuable selling tool for an owner.  Now, a seller may end up spending $200-300 to transfer this warranty.  It is worth making a call to your builder’s warranty department to find out if there will be a fee.  Certainly you do not want a detail like this to hold up the sale of your home. 

If you are a home buyer, especially if you are looking at foreclosed properties, you want to check into these things where community and warranty are concerned.  With home owners associations specifically, many do not file liens against the property that can be found by a title search prior to the home sale.  So later, you get a letter or even a certified letter or a lien from an association that you may not have known even existed.  They could be expecting you to pay transfer fees, back dues, late fees, etc. after you are in the home.  We are seeing this more and more where new owners get this unwelcomed surprise.  The banks have new owners sign many waivers and will not take responsibility to disclose this information to the buyers.  And since a lien is not filed, it would likely not be covered by title insurance.  Know that back association dues are a risk taken with foreclosed, short sold and really any pre-owned property. Do your research on the neighborhood if possible prior to closing and see if funds can be escrowed for these fees and fines.  In addition, do not assume that a builders warranty will automatically transfer with the home.  If it is newer and you think their may be a warranty still in place from the original builder, call their service department directly to question this and find out about how to properly transfer the warranty and if there are any fees for that.

It is a jungle out there.  With sales down and companies looking for new income streams, it is always good to do your homework.  Whether a seller or a buyer you should be an informed consumer.  There is little regulation on these types of fees, if any.  If it turns into a considerable amount that is in question, it can become a real headache that may even land you in court.  Real estate contracts become more and more complicated every day especially those with a variety of attachments.  You should consult with an informed real estate attorney when you are selling or buying  to be aware of the details. Attorneys can interpret for you the fine print within contracts, waivers, addendums and the like, so that you are sure you are well informed of all costs and risks involved.  Your Realtor can be a big help, but should always advise you of your rights to attorney review and have your best interest in mind.

Vicki Owens, ABR, CRS, GRI, SFR is a trusted resource in the Marysville, Ohio area and owns and operates the branch office of Best Homes Real Estate.  Since 2003 she has been serving the Marysville and Central Ohio areas both as a listing agent and buyers agent.  A multi-million dollar producer, Vicki actively stays in touch with the local market and changes effecting the industry.  Contact her by phone at 614-440-5174 or 937-644-3385, A native of the Columbus area and Marysville resident since 1999.  You can find reliable, informative resources on her website www.movetomarysville.com

Submitted by Vicki Owens, ABR, CRS, GRI, SFR, Best Homes Real Estate, Marysville, Ohio 

Want to make that sale finally successful in 2011?  Perhaps you have tried in the past years to sell with no luck or have been “waiting for the market to bounce back” to make your move or you have a need to sell due to personal circumstances.  If you are reading this, chances are you are seriously considering making your move this year. 

Contrary to bad media static or conversations with friends, family or neighbors, if you have a strong desire to change your lifestyle and move on, your home can be sold.  Preparation and patience are a virtue.  There is no doubt the competition is tough.  Banks are releasing foreclosure properties at rock bottom prices, short sales are abundant and it is likely that you are seeing neighbors walking away leaving an empty home that at some point will be more competition.  Just setting a  random price and putting a sign out in your yard is likely not going to get the job done.

First and foremost you must check your finances.  The balance of your mortgage loan may tell you that you need to stay, consider refinancing, or work out a way to get that balance to a level that will cooperate with the market.  Agent success fees are not the only expense you will have as a home seller.  In our market sellers are expected to pay for title insurance, search and closing fees, warranties as well as a pro-ration of property taxes due at the time of closing.  With inspections and any repairs, it is best to think of that number as 10% of the selling price.  In many successful sales, Sellers are assisting Buyers with $2000-3000 in closing costs as well.  AND how much from the sale do you need to move on to your next home if you plan to buy?  Consult with your local mortgage loan banker to see how you qualify.  Being informed of the numbers is definitely the best step you can initially take to avoid being disappointed.

Look at your home from the Buyer’s eyes.  Think about what made you love your home when you bought it.  Was it the location, floor plan, décor?  Go onto the web and search sites like zillow.com, realtor.com, trulia.com and some local agents websites.  Look at the photos and virtual tours.  Check the prices.  Which homes similar to yours do you think look appealing and which ones would you rule out?  The hard question is realistically, how much would you pay for your home in today’s market?  Take inventory of the improvements like carpet, paint, flooring, fixtures that it would take to get your home into a condition where is might compete with a new home for sale, or some of the best that you see on line. Are you ready to start looking at your home as a product instead of as the place you live? 

Consult with several agents.  There should be no charge for a consultation.  A full time real estate agent who is actively working your market area should be able to provide you with information about what has sold in the last 60-90 days, advise you on what you are competing with, and give you an estimate of what you can expect financially when your home sells.  In addition, many times agents can recommend reliable lenders, technicians and resources to help you prepare.  With such a big decision, surprises are not welcomed.  Do not be shy to ask questions about the agent’s track record, training, and fee flexibility especially if it is someone that is new in the business or unfamiliar to you in your market area.  The marketing of your home is just the beginning and a part of the process. You will need assistance for every step and communication during the process.  Do you trust that the agent you pick will work in your best interest and will really work with you to meet your goals?

What will it take for you to be “the one” that a home buyer chooses in this market?  Keep in mind that today’s home buyer typically does a lot of research.  Loans are more difficult to come by and Buyer's need to do a lot of work and demonstrate dedication to qualify, including have great credit scores.  With access to public records it is likely by the time they come in to take a look that they know what the county auditor has on file including how much you paid and what the value for tax currently is.  Likely that potential buyer is touring multiple homes and may have been for several months.  Not only are they looking for the perfect place for them to settle in, but the best price available.  Buyer’s can choose to purchase a home that needs work and get loan options that assist with this.  They are likely to add up any work that needs or has been done to your home and consider that in the price.  There are LOADS of fixer upper homes.  If you feel yours has issues, either fix them first or price it accordingly.  Allowances and excuses do not work well for buyers who want a move in ready property.  In other words, a move in ready price requires a move in ready condition in order to succeed.  Even builders are discounting and offering financial incentives for Buyers, so keep in mind you will be competing with them as well.

Something else to consider is the appraisal.  Nothing is more disheartening as to get the offer you have been waiting for to find that the Buyer’s lender will not approve the amount.  Appraiser’s for the banks will look at sold comparables when arriving at the value of your home.  The value you place on granite or a finished lower level may not match the value an appraiser gives it.  Not because you did not do a great job, but because of what other homes are actually selling for in the last 6 months.  Chances are that you can lose your buyer if you cannot match the appraised price.  Buyer’s are unlikely to pay more than appraised value. Would you?  Everyone has the same goal in mind once an offer is accepted, so your buyer's will likely be very disappointed as well. You can hire a licensed appraiser to provide you with a market value before going on to the market.  However, the appraisal at the time of sale may not match another appraisal at a later date. In addition, lenders do have specific condition requirements and may actually requre specific repairs called on by the appraiser in order to grant the loan.  Appraisals essentially are only good for the date and time they are performed. 

Want to know more?  Contact Vicki Owens, ABR, CRS, GRI, SFR with Best Homes Real Estate of Marysville.  Highly recommended in the area and successfully assisting 40-50 clients a year with selling and buying residential property, Vicki can provide you with the information you need to plan and succeed in selling your home (or moving to your next).  Visit www.movetomarysville.com. Call 937-644-3385 or 614-440-5174 or email to movetomarysville@gmail.com

Submitted by Vicki Owens, ABR, CRS, GRI, SFR, Best Homes Real Estate, Marysville, Ohio

Whether it’s email, texts or phone calls, I get so much communication from clients, their friends and community residents alike who are seeking to know exactly what they can expect from the market.  “Where are things really? I know that you shoot from the hip and will tell me the real story on what you are seeing out there in the trenches”.

For Buyers:  What a load of opportunity for first time buyers and those who have their home sold or have been paying out to that landlord for awhile and have maintained great credit. Your rewards are coming!  The banks are FINALLY releasing many of the foreclosed properties that they have sat on for months or even years here!  There are a lot of homes that need some TLC and ready for the right buyer.  The USDA funds are back in Union County, which means you can get a home in great condition for $0 down and NO PMI in the payment!  Move in ready motivated seller homes are out there and plentiful as well.  If you want to buy a fixer upper, you might look in to Fifth Third Bank’s 203K Streamline program.  This one will allow a considerable amount of fix up money and do this all with one easy step with an estimate from Home Depot.  The rates are still even below 6% on these types of programs that can cover appliances, flooring, and really turn a fixer upper into a move in ready place.  Buyers, the early spring market is ripe and ready for you to get out there and start finding that home that you have been waiting for!!  Sure enough wait till late spring and you will see some “not as motivated” sellers with pricing that may be a bit higher than those who have worked hard waiting for you this cold, long winter!  We have seen MANY price reductions and a short sale that is in good condition could be well worth your wait for approval and get a lot of home for your dollar.

For Sellers:  There is no doubt about it that if you need to sell you are going to be competing with A LOT of foreclosures and short sales this year.  Your advantage is that if you have the ability to price your home competitively and are really motivated by that lifestyle change, you may be able to get into that next home for far less than you expected.  So many people who have to make a move are considering renting the property.  If you can find a great renter who will care for your place like it is their own and are underwater in the mortgage, it may be a good option.  The key is to search your soul about being an “accidental landlord”.  Maintaining that property for tenants and making sure that you get a deposit that would be enough to replace things like carpet and re-paint are just 2 things to consider.  If you do not have equity in the home and can wait a year or two, that may be an option. 

For years now with the declining prices we have seen MANY sellers bringing cash to closing.  When you look at your price, you will want to be sure that fees and all liens can be covered for your selling price.  A good agent can give you a pretty solid estimate on what that would be so there are no surprises in the end.  Nothing is more disheartening for sellers and buyers as not being able to close after all the steps of a transaction, or worse, legal trouble over it.  For success, you must PREPARE, PREPARE, PREPARE. Financially & condition. 

To compete, you want the buyers, who have SO many choices, to pick YOURS!! Check out the prices that new homes are selling for today, and look at what has actually SOLD in the last 30-60 days.  Take a look at your home from “the buyer’s eyes” and make it a place that you would buy all over again.  Is it a lot of work? YES So only you can decide if you are up for the challenge of getting in the race.  If you are relocating, find out what that new employer might do to assist you in the sale.  Some programs may even cover some of the expenses you had in making improvements to the home over the years. 

Whether you are buying or selling in 2011, your commitment truly needs to be your lifestyle/location choice as it is likely sacrifices will be made.  Only you can decide if the time is right and you are ready to roll up your sleeves for the work, whether it is the load of paperwork the bank will ask of buyers, or the whipping the home into shape and finance issues faced by sellers.  One thing is still for sure, the American Dream is alive and kicking regardless of all of the static in the news media.  Home IS where the heart is and most folks really want a place of their own to settle in to. 

Vicki Owens, ABR, CRS, GRI, SFR, with Best Homes Real Estate has been serving Marysville in Central Ohio since 2003 selling over 17 million in residential real estate.  Visit her website at www.movetomarysville.com. Vicki offers free services to home buyers showing any home available, staging services & professional consultation to home sellers and FREE use of her moving truck for all clients within Ohio.  Full service and reliable resources for clients. See all Vicki's listings and easy to use map search at www.movetomarysville.com Call or text to 614-440-5174 or direct call to 937-644-3385. Email: movetomarysville@gmail.com

Submitted by Vicki Owens, ABR, CRS, GRI, Best Homes Real Estate

This year has proven to be an interesting one for single family home sales within the limits of our school district.  As of 12/28/2010, there are 245 single family homes listed for sale. There are 39 homes indicated as pending sale or in contract. A little over 16%, or 44 of the 289, are indicated as either bank owned (foreclosed homes) or short sale properties (pre-foreclosure).  The average days on the market for homes currently listed is 155 with an average list price of $202,516. 

Closed and successful sales year to date show an average list price of $167,050 and average selling price of $161,230 with days on the market being 93.  Of all 245 sold, 20.4%, or 50, are indicated to be bank owned or short sale properties.  135 of these homes closed by 6/30/2010, in time for the government stimulus offered for home buyers. 

In comparison to 2009, the good news is that the average sold price improved a bit  in 2010.  However, the volume of sold homes declined.  In 2009, for the same time periods 1/1-12/28, 301 properties had sold. The average list price was $161,218 and average sold price was $155,717, with days on the market averaging 88. 

In comparison to 2008, the good news is that the days on the market improved in 2010. However, the volume of sales declined in 2009 and then again in 2010.   In 2008, for the same time periods 1/1-12/28, 312 properties had sold.  The average list price was $171,954 and sold price $165,863, with days on the market averaging 107. 

It’s interesting to note as well that no homes sold over for a price of over $400K in 2009 or 2010.  In 2008, 4 homes had selling prices of over $400K with the highest being $635K that had a list price of $699K and was on the market 594 days.  The highest price listing sold in 2010 did have a list price of $417,900, however was sold for $355K. 

In all price ranges in the last 3 years there has been quite an adjustment compared to 2002-2007.  In 2010, 56 fewer homes sold than in 2009 but at a 3.4% higher average selling price.  The list price to sold price average remained a steady 96% in all 3 years (meaning that homes that did sell sold within an average of 96% of their listed price). 

Experts are predicting that we will continue to see recovery of the market in 2011.  Although the volume of sales were lower in 2010, the sold prices were a little higher.  In our area, we are looking to some job growth and in 2010 did see a few more employee relocation packages for those owners leaving or moving into the area.  Recently, we have seen more HUD (FHA foreclosed) homes being released on to the market for sale in our area.   

Location, location, location. Our location is just 20 minutes to the Dublin business district, in comparison to Hilliard, Dublin & Powell, area property taxes and average home prices are more affordable, good school & low crime ratings, a smaller population and a fairly easy commute for those wanting to leave the congestion of the larger city. In addition, the availability of the USDA financing program is a plus! It makes sense to many potential home buyers that a move to Marysville is a great decision.

Statistical information deemed reliable but not guaranteed from Columbus MLS for the Marysville Exempted Village School District for dates 1/1-12/28 for years 2010, 2009 & 2008.  Vicki Owens, ABR, CRS, GRI, Realtor & Owner of the Best Homes Real Estate Marysville Branch Office at 127 West 5th Street in Marysville has served the Marysville area since 2003. A top ranking agent  closing over 16 million in residential real estate transactions assisting both home buyers  & sellers within a 30  mile radius of the area.  A Marysville resident since 1999.  To learn more or discuss your real estate goals, feel free to call her at 937-644-3385 or 614-440-5174, email to movetomarysville@gmail.com or visit her website www.movetomarysville.com for more information.  

Buyers and Sellers Benefit from REALTOR^® Expertise in Distressed Sales

Marysville, Ohio, May 2010 — Vicki Owens with Andy & Associates, Realtors has earned the nationally recognized Short Sales and Foreclosure Resource certification. The National Association of REALTORS^® offers the SFR certification to REALTORS^® who want to help both buyers and sellers navigate these complicated transactions, as demand for professional expertise with distressed sales grows.

According to a recent NAR survey, nearly one-third of all existing homes sold recently were either short sales or foreclosures.  For many real estate professionals, short sales and foreclosures are the new “traditional” transaction.  REALTORS^® who have earned the SFR certification know how to help sellers maneuver the complexities of short sales as well as help buyers pursue short sale and foreclosure opportunities.

“As leading advocates for homeownership, REALTORS^® believe that any family that loses its home to foreclosure is one family too many, but unfortunately, there are situations in which people just cannot afford to keep their homes, and a foreclosure or a short sale results,” said 2009 NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth. “Foreclosures and short sales can offer opportunities for home buyers and benefit the larger community, as well, but it’s extremely important to have the help of a real estate professional like a REALTOR^® who has earned the SFR certification for these kinds of purchases.”

The certification program includes training on how to qualify sellers for short sales, negotiate with lenders, protect buyers, and limit risk, and provides resources to help REALTORS^® stay current on national and state-specific information as the market for these distressed properties evolves. To earn the SFR certification, REALTORS^Ò are required to take one core course in addition to the SFR course and participate in three Webinars.  For more information about the SFR certification, visit www.REALTORSFR.org or call 1-877-510-7855.

Call Vicki today as your local Short Sale & Foreclosure Resource in the Marysville area.  She has assisted over 25 home owners in the last 2 years to either sell or buy a home in a pre-foreclosure status.  In addition she assists buyers with bank owned as well as HUD owned properties.    If Vicki can help you, don’t hesitate to contact her at 937-644-3385, 614-440-5174 or via email at vicki_owens@hotmail.com. 

Since 2003, Vicki has provided services to the area and is highly recommended by the community & local legal professionals to provide professional and confidential service.  Since 2005, her branch office of Andy & Associates, Realtors is located at 127 West 5th Street, Marysville in the McCarthy & Cox Financial Advisors Building.  Vicki is also credentialed through the National Association of Realtors as a Certified Residential Specialist (CRS) , an Accredited Buyer’s Representative (ABR) and is a Graduate of the Realtor Institute (GRI) all that have required a great deal of continuing education in the real estate field.   Visit her website at www.movetomarysville.com                            

Submitted by Vicki Owens, ABR, CRS, GRI, Andy & Associates, Realtors, December 2008

With the market as tough as it has been, I have received yet more calls and emails from people who have had a lot of difficulty with their lease purchase arrangements.  It unfortunately seems this always comes after the fact and always reiterates the reason why I always advise against these sort of agreements. 

One gal contacted me who was at the end of her 2 year agreement.  I spoke to her way back in 2006 when she was contemplating a home purchase.  At that time, she had been visiting many open houses and could not seem to get the price that she needed for a house the age, size and quality that she wanted.  She went to a For Sale By Owner open house and the owner offered her a lease purchase agreement.  Because there was no way at that time she could quality for a mortgage on the home at an asking price of $235,000, she loved the house and the idea she could move right in and signed right up.

She actually called me the week after she had signed the agreement back in 2006.  I was familiar with the home which had been on the market for nearly 2 years and listed on and off with a variety of agents to no success.  At that time, I commented that the home was priced awfully high for the area compared to others that had recently sold on the block, but welcomed her to the neighborhood. I was happy that she found something that she liked and wished her and her family all the best. 

In her call now, two years later, she explained that she was at the end of her lease agreement and now it was time to purchase.  She had now been approved for the loan! But the bank, after appraising the house recently, would not approve a loan for the contracted amount.  The appraisal was just too low even after she had paid the owner nearly $35,000 (at $1400 a month and a deposit) and the sale price was still what it was when she signed the document 2 years before.  She had redecorated, put in carpet, finished a room in the basement.  The owner will not lower the price to what the bank would agree to finance for the home, now valued at under $200K due to declines in the market. He cannot afford to. He had 2 mortgages and the rent she pays covers just the first. After expenses to sell, even without a real estate agent, he would have to bring funds to the closing table to clear the liens, he just will not do that.

Now she is struggling to decide to stay and see what happens or go forward to buy another home.  And she is actually leaning toward buying another home with the prices and interest rates so low now, but troubled about all that she spent on this one.  In the meantime, the homeowner is getting lots of nice work done and gaining equity on the home as he makes payments.  Hope he does not decide to take out yet another equity line of credit, or worse, quit making payments.  Guess we will see what she decides and how it all shakes out.

Then an email recently.  Another gal who signed a lease purchase agreement that was based on the fact that she could be financed once her home (that was on the market in another state) sold.  Well, the home has still not sold and her year is up. So she is now moved out from the home that she had intended to purchase.  She had put $1200 into new carpet and done some other renovations and redecorating in the home and made all of her monthly payments on time to the owner.  In this case, an agent was involved representing the home seller attempting to sell the home with the sale of her current home a contingency to go forward with a true purchase.  She did not mention what she was paying per month, but my guess is that she probably had spent $12000 minimum plus some sort of up front deposit/down payment.

Upon her move out, she had a walk thru with the agent that was assisting the seller who stated the home was in good condition and she moved on.  Well, low and behold she has a bill at her new address from the owner wanting money for the renovations that he is now doing to get the home sold.  My advise was that she needs to have her own attorney look over the agreement that she signed to see if in fact she is responsible and if she has any rights to recovery of the money that she spent.    She admitted that she was more focused on the sale of her current home and relocating her family than what she was signing to get into this one. 

Circumstances and emotions can be distracting, and a good buyer’s agent or real estate attorney can be worth their weight in gold to avoid bad situations that can cost literally thousands for an unsuspecting home buyer.  Slow down and get some professional advise BEFORE you sign because “hind site is 20/20”.

Copyright 2008 Andy & Associates, Realtors.  About the author: Vicki Owens is an experienced real estate agent in the Central Ohio area.  Highly trained as an Accredited Buyers Representative, Certified Residential Specialist and Graduate of the Realtor Institute.  An award winning multi-million dollar agent for Ohio and the Columbus areas and highly recommended locally.  These opinions and experiences shared are from the standpoint of a Realtor and are meant as education for the public.  None of the information within her articles or blogs should ever be considered as legal advise, an attorney should always be contacted regarding any real estate transaction.  Email her at vicki_owens@hotmail.com and visit her website www.vickihelpsu.com for more blogs, professional assistance and information about her services.  Cell direct 614-440-5174.

That IS the question.  So What Is A "Short Sale" Anyway?

A short sale is when the bank agrees to take less than what they are owed on a mortgage and forgive some of the debt in order to avoid foreclosure.  The key is "to avoid foreclosure". 

In this 21st Century market, many home owners that purchased their homes anywhere from 2001-2006 have come to find out that their values declined.  VERY disappointing when so many were promised appreciation by super charged sales reps, realtors and mortgage lenders.  But the best thing to do if you can ride out this market is NOT TO MOVE - at least for now.  Pay your mortgage on time and stop bellyaching that your timing was off and you purchased a home in an up market.  What is done is done. You made the decisions, signed the papers and own your home - or at least you pay for a mortgage on the home and the bank holds your deed. 

Another reason for distress for home owners losing value was the "second mortgage" boom.  Home equity lines of credit, consolidation loans that use your home as collatoral - once upon a time these were called "second mortgages" - and they still are.  In order to sell your home, your current home MUST be paid off (at least in Ohio).  This means that you used up your equity. If you did not have that loan to pay off, you would be taking away that money today in a sale. 

When home owners think about making a move, it may come as a big surprise to them that they owe more than they will get on today's market.  And there are expenses to sell as well. About 8-15% generally (or to put it simply 8-15 cents on every dollar).  So with this discovery and the desire to move for whatever the reason, home owners are getting angry. Angry at the bank, lender, appraisers, Realtors, tax man - whoever.  But the only one to truly be upset with is themselves for being sold on the decisions they made.

SO, many are tuning into the web and news to learn about "this short sale thing".  And some are even so angry that they go to extremes to not pay their mortgage, wreck their credit and anticipate foreclosure.  Anger at market conditions is not a reason to consider short sale.  Pay your bills, improve on your home and stay put.  This whole "just walk away" hype (if you've seen it) is childish and irresponsible.  It's as silly as not making your car payment because gas prices are too high or screaming at the clerk at the mini-mart for the same. Spoiled aren't we?

It all started somewhere.  And yes, some people were misled to believe their monthly payments would be less than they anticipated by ambitious or misinformed sales people.  Some ambitious lenders qualified home buyers on the start up lower payments available with special loans and not for the payments they would maximize out at a few years later.  Some ambitious lenders provided loans for far more than the homes value with the second mortgage boom.  Some ambitious lenders qualified buyers on what they told them they had for income (fudged the numbers) and did not throughly check out the real numbers. At the time, no one thought twice about it, the programs were available and it was common in the business.  And everyone wants the American Dream, we all want what we want and we want it now - instant gratification.

The Short Sale IS an option for someone truly in hardship.  Whether is was due to one of the above "just plain in over your head" loan reasons, a divorce, job loss, illness - the truth is that when a person gets behind on the mortgage and wants to work it out and save some face and credit the short sale may be the answer.  The process IS NOT an easy one, there is no "instant gratification" answer. A short sale is not the "silver bullet" to easily relieve you from your debt.  As a consumer, the first step to take when you see you cannot pay the mortgage is to call your lender.

Take out that envelope you have not looked in since you closed on your house and read over your mortgage.  See what sorts of penalties that you may be facing and what can happen when you are in default on the mortgage loan.  Banks do not want your house back! Ultimately, they would like to see you get up to date.  Some may make some special temporary arrangements for you.  The foreclosure process for lenders is extremely expensive.  And today, they are overwhelmed with requests - be patient in working to reach the right person and ask for a short sale package.  If you do not get it in a week, call back again - and get on the horn to some of the best Realtors in your area to see if they will consider taking on the short sale with you.

It takes tenacity and team work between you and your agent to get to the right person at the bank who will help you get the job done.  Do you know why you need an agent to help you?  Because not only will you need someone to market and sell your home quickly at a very competitive price, but the agent will have to sell the bank too.  The agent can help you put the package of paperwork together to prove your case on why the bank should take less than you originally agreed to pay. A hardship letter, net proceeds of the sale, prove market conditions through professional analysis, bringing offers the bank will review and accept with their requirements.  A long list and hard work. 

And just to note the agent is taking a risk that they will get a reduced fee paid to them yet with a lot of extra work.  It takes a dedicated agent that knows the market, has strong communication skills and what they are doing. Not a job for your friend who just got their real estate license or for a part time agent who has never done a short sale.  The bank will be taking a loss, but only if they agree to do it.  The bank takes time to look at offers because they have to weigh how much the short sale would possibly save them rather than having the home go to sherriffs auction* repairs and fees to re-sell.  And if someone promised to pay you for something they were using of yours, you would be reluctant to take less too, wouldn't you?  Keep in mind, "the big bad banker, builder or realtor" did not force you into this situation. When you call for help, be kind.  You know the old saying "you get more flys with honey".

(*a side note here to buyers on sherriff's sales - generally the bank will start the bid and send reps to buy the homes back to acquire the deed. The homes are not open to look at and inspect to buyers or Realtors, are generally in awful condition from sitting vacant for months or years and can have liens that must be paid by the buyer - a good deal for investors and handymen with financial resources, but not to live in right away as a general rule. And if you win the bid, you must have 10% down and a financial plan to pay on auction day)

Something else you should know is that you, as the former owner, can be taxed as income on the amount that the bank forgives you.  So as an example,  if your $180K house sells for $160 and their are selling expenses too, you may end up taxed on as much as $30K or more.  The government is trying to work through some programs that may provide relief for this, but so far, not a definite yes.  You may owe the IRS when you file your taxes that year - and that is something you most certainly do not want to tangle with.  Be sure at your closing to ask the bank and title rep about this.  Surprises are not good when you are trying to bounce back financially - and I am sure you have had your share of "bad surprises" if you are reading this.

If you have a second mortgage or equity line, this complicates matters more and essentially you and your agent must do the whole process twice.  The second mortgage lender may or may not forgive the loan and you may be left having to finance your debt into an unsecured loan (one not secured by your house) if you have the credit and resources to do it. If you do not have the resources to do that, the second lien holder can stop the sale by not forgiving the loan. They have to be convinced too on the idea this is a better answer for them than foreclosure. And your credit will suffer, but not like a foreclosure or bankruptsy on your credit history.  With lessons learned, you can be back on track in as little as 2 years as long as you pay your bills on time and watch your spending.

Sounds like a lot of work and trouble, doesn't it? But consider the alternative.  If you are foreclosed on, with the recent tightening of lender requirements, it could be 10 years before you are eligible to buy another home.  Do you know where you will be in 3 years, 5, 7, 10 years?  You can have judgements and other liens against you for years too.  Doesn't it make sense to put yourself to work at something that will get you out of that dark cloud and let you move on with your life sooner?  Isn't it a shame that it is so much harder to get out of it than it was to get in?  Such is life. And I know from working for years with many people that good work ethic and pride does still exist here.  Taking a temporary ego hit beats every time a decade of getting denied for credit and renting.

For buyers in this market the short sale can be a great opportunity. HOWEVER, it will take patience on your part as a home buyer for the process to work.  A short sale IS NOT for someone that needs a place to live in 30 to 45 days, it is NOT FAST.  Homes that are short saled are sometimes some of the very best buys because they are generally in move in condition and priced below market.  The home owners have loved their homes, are sad to go, but thankful for qualified buyers willing to wait while the details are worked out with their bank.  Buyers agents too must know what to expect, not over promise and bring the buyer's offer with a  preapproval from a mortgage lender.  Much of the waiting will be out of control of the seller or their agent.  And sometimes a buyer's agent may have to share in the income loss by sacrificing some of their fee as well.  So it also takes a dedicated buyers agent and understanding home buyers for this to work.  Short sales are not a playground for ruthless negotiations and demanding time constraints.  The selling bank will really be the one in charge and all parties will have to be willing to let that happen and go with the flow to end with a successful closing.

And one more thing. . .in todays market, when you are a seller, whether you are fortunate to take away some equity, can come up with your own money to clear the debt OR have help from the bank with a short sale package. . .you cannot take personally low offers on your property.  Being offended by low offers is self defeating and will not lead you to meet your goals.  You need to buck up and get over that and counter offer as reasonably as you possibly can.  Especially with short sales, you do not know what the bank will accept and until you get their go ahead after the extensive package and contracts are presented.  Remember, with short sale you are getting assistance and just barely escaping foreclosure if you are fortunate enough to get the transaction completed.  Buyers WILL see short sale as desperation to sell.  You MUST put your personal feelings aside and cooperate as a team member with agents and the buyer to get the job done. 

Hopefully I have shed some light for you on what the process is, is not and some details on how it works. This comes from experience and I am no way offering this information as an attorney or member of the legal profession, but from the perspective of a Realtor. You should get the assistance of a good real estate attorney to answer your questions if short sale is for you.  If I can help you in the Marysville area or within a 20 mile radius, feel free to call me at 937-644-3385 or 614-440-5174 or send an email to me at vicki_owens@hotmail.com  All information is kept confidential and there is no need to feel embarassed or alone.  This is the state of the real estate market and a natural economic correction.  You are definitely NOT alone, should set the ego and emotions aside, get the bull by the horns and take some action. 

For more information about my services, visit my sites at www.movetomarysville.com , www.listitagain.com and www.vickihelpsu.com

First & Foremost you need to know as a home buyer that buying one of these repossessed homes take a great deal of PATIENCE.  Unfortunately, banks are not in  the “instant gratification” business.  We are so used to things happening fast. When an offer is made on one of these homes, it has to pass through MANY hands.  The banks are overwhelmed with work with so many foreclosures available for sale.  Because they are NOT in the real estate business, systems have not been streamlined to provide timely answers to home buyers. 

If you are right for it and do not have a deadline that you must make your move in, you can get great deals but it will take patience on your part, and tenacity on mine.  There is risk involved for you financially and a lot of work to be done when offering on a property such as this, and you need to be fully committed to your decision to buy and provide all documentation and sign all waivers needed.  It is risky, many of these homes are sold as is with no warranty and no disclosures.   Buyers for these homes sign many rights away.

Defining the Difference for you:

A short sale is when the lender is willing to accept less for a home than what is currently owed by the homeowner.  Across the country most real estate markets are feeling the pinch. Most sellers who find themselves in this scary position often think their only option is giving the property back to the bank and going into foreclosure. The Short Sale is a far better option for the majority of sellers, but may take a longer time for the bank to make their decisions on what kind of losses they are willing to take.  If the home owner has a first and a second mortgage, both have to be negotiated.  BUT in most cases, these homes will be in much better condition than the other challenged properties we will visit.  SO THEY CAN REALLY BE WORTH THE WAIT, and can take as long as 90 days to negotiate and close.

A bank owned home is when the home has been through the foreclosure process completely, it was financed with a conventional loan by the former owners.  Chances are this home has sat vacant for some time with no utilities before the bank bought back the home, cleared the title and listed it.  Sometimes as long as 12-18 months. Many times they need cleaning and repair.  Contrary to popular belief, the banks rarely negotiate a low offer on a home.  They list them at what they feel is an aggressive price and will allow them to sit on the market for months before reducing the price.  They rarely accept much less than full list price and may or may not pay some of your closing costs.

A VA repo home is when the home has been financed by the Veteran’s Administration.  VA loans have looser guidelines for credit and no private mortgage insurance.  They charge an up front fee for insurance on the mortgage when the home is originally sold.  This home too typically has sat vacant for many months with no utilities and chances are it is in disrepair.  The process of purchase involves a lot of special paperwork that I can acquire for you and response times from VA seems to be less in negotiations.  There is some room for price negotiation, but typically they too will not accept a “lowball” offer quickly as the homes are priced aggressively.

A HUD home is simply a home that was financed with an FHA loan thru the Federal Housing administration.  FHA insured the mortgage and has repossessed the home.  It too may have sat for many months with no utilities and be in disrepair.  There is an on line bidding process with a formula for successful offers.  You must work with an agent who is registered to do HUD bidding.  For FHA buyers there is currently a loan program that offers $100 down payment. However, $1000 earnest money as a certified check is required with paperwork that MUST be received by HUD within 48 hours of an accepted bid or the bid is cancelled. 

Corporate owned homes are homes that an employer has bought for one of their associates so that they could relocate to another area.  A relocation company is involved.  Many times relo will pay for customary closing costs and repairs needed after inspections.  Utilities are generally left on the the homes for the most part are generally in good condition.  A “lowball” offer will be considered and generally relo will respond within 10 days of an offer.  There is also a host of paperwork including liability waivers and property disclosures required stating that the relo company has no legal liability for the home. 

Your obligations in inspections include your putting the utilities in your name and having them turned on (except in short sale and corporate owned) prior to inspection.  If there are water or gas leaks, you will invest to have those repaired prior to inspections.  You can request those funds back from the seller just prior to closing but may or may not get that back.  If you do not go through to buy the home, you will not recover your investment to make the repairs for inspection. 

Your obligations with earnest money include that you are committed to the sale and have the financing to go forward.  Unless a problem that is catastrophic for the property like a HVAC system or roof needs replaced, many times the seller will not allow you to back out of a sale due to disrepair.  They are selling “as is” even though you are entitled and encouraged to inspect the home within 2 weeks of your accepted offer.  If you just change your mind or find another property that you like better, the earnest money deposit WILL NOT be returned to you. 

 Copyright 2/2008 by Vicki Owens, ABR, CRS, GRI, Andy & Associates, Realtors.  Direct: 614-440-5174 website www.vickihelpsu.com

Marysville, Ohio area homeowners are taking advantage of great consultation in getting their home ready to sell! From organization, clean up, updates and staging, let Vicki Owens put her experience and successful track record to work for you.  Vicki can assist within a 30 mile radius of Marysville.  If you are anticipating moving into your next home in the area, you will want to take advantage of this free consultation especially if it has been years OR you have never sold a home.  Flexible rates are available for homeowners moving from their current home to find another pre-owned home OR building new. 

In addition to condition, positioning your home to sell in today's market is more challenging than ever.  Vicki can provide you with an honest, up to the minute market analysis so that you can see for yourself what you can expect for the value of your home.  All of her clients receive ongoing analysis support working together as a team to take your home from for sale to sold in the time line that is important for you.  No extra fees, no surprises. You will be informed of the costs and all steps, from start to closing.

Call 937-644-3385 or 614-440-5174 or email movetomarysville@gmail.com to set your appointment. Your goals, your timeline and what is important to you is Vicki's top priority.  If you are relocating, we can work with your employer's relocation company!  She can also put you in touch with some of the areas top financial representatives with reputable banks to assist with your mortgage needs.

See www.movetomarysville.com and take advantage of the user friendly tools and testimonials available for you there. Vicki Owens of Best Homes Real Estate is one of central Ohio's top agents providing attentive, top of the line service to both home buyers and sellers.  And did you know that whether you are selling or buying, you can use Vicki's moving truck at no additional cost within the state of Ohio!!  Plan your move today!!

Here it is, another holiday season.  If your home is or has been on the market this year without an offer, you are not alone.  So what does it take to win over that buyer in today’s challenging market?

· See Your Home from the Buyer’s Eyes by asking yourself one of the toughest questions that you can.  If you were on the market to buy, what would you pay for the home today?  Forget your memories there and the money you’ve spent to maintain or update. What would you honestly pay? Look at it as your product to market, not your home.

· Do Your Homework by looking at what homes comparable to yours, in your neighborhood or vicinity and what they have sold for in the last 90 days.  Not last year, not the last appraisal, but what buyers are truly spending now for a home reasonably comparable to yours. (And yes, bank, corporate owned and short sales DO make a difference on where yours will be priced to win)

· Make It Sparkle by doing the hard things that no one wants to do.  Wash the windows, pull the weeds, clean the basement, get rid of the clutter and junk.  Buyers want a home that they can move right into.  You may have to remove the wallpaper, paint, clean carpets, and store away some of your furniture.  It needs to show like a model home that the owners have taken great care of.

· Get Quotes if your home needs repair.  Take a good look at the roof.  If it needs replaced, call a roofer and get a quote.  If it needs windows, carpet or flooring, get a quote.  Have in writing and face what needs to be done head on.

· Know Your Competition by looking at what is currently out there on the market that buyers will be touring when they come to see yours.  Look at how long those homes have been on the market and keep in mind that you want yours to be the one they pick to offer on.

· Face Reality On the State of the Market and know that the prices have declined by as much as 20% in the last 3 years. If you purchased your home in 2004 or 2005, you may have paid more then than the market will bare today.  You may only be able to get what you paid for the home or even less.  If you have little equity and are not in a position to sell now you may want to wait longer with plans to move on if you can.  Pricing your home too high by just a few thousand in this market can lead to disappointment. In fact, if you are ready to move fast, you may want to price a few thousand lower than your competition and showcase your home beautifully.  Again, what would you buy??

· Call Some Professionals, have the home inspected by a home inspector for condition, termites or gas leaks. Call an appraiser to have the home appraised at today's fair market value. An appraisal by a qualified home appraiser who does work for the banks should be able to provide an unbiased assessment of your home’s value.  The appraisal you had done for a refinance or second mortgage a few years ago is not one that would be accurate for resale of your home and is only good for up to maybe 180 days.

· Talk to Several Agents to see what their strategies, track record and experience has been in servicing your area.  Find agents that know the area, have experience with today’s market, know the pricing, market aggressively and are currently selling homes.

Regardless of the peppered opinions of the press, the American Dream is still alive and being a homeowner is still desirable.  Yes, many potential home buyers have been on the fence for quite awhile waiting to see what is happening with the market.  They fear paying too much for a home, or worse, facing foreclosure.  There are still many able folks out there who want to be the owner of a home but have been jaded by the media. 

Keep the faith that this will change.  Home prices are low and so are interest rates and they will find when they start their research that this is a great time to be buying.  Homes are still selling, banks ARE still lending and buyers are buying, just at a slower pace.  Patience is a virtue, but your home can be positioned correctly to sell and win in today’s market.  Your commitment to be a winner is essential to captivate the right buyer, unfortunately, that may mean some sacrifice for you to succeed in this market.

Vicki Owens is a top selling, full time real estate agent with advanced education, successful track record in our local market that comes highly recommended by clients.  For a positioning analysis of your home call her at 937-644-3385.  For more information, visit her website at www.movetomarysville.com Listed before and considering trying again?  See www.listitagain.com

Copyright 2010, Best Homes Real Estate

By Vicki Owens, ABR, GRI, RSD, Andy Siers, Realtors 

Mary Jane and Doug are really nice people. They have 3 children and have relocated into a new area for Doug’s work nearly 2 years ago.  When they moved here, they had a home to sell back home and decided it would be best to rent an apartment until their home sold.  There home did sell about 4 months ago and they have a little money in the bank saved for a down payment.

Over the coarse of the year, they had to trade both of their older cars for newer ones because they had a longer commute to work and their vehicles were starting to show a lot of wear and costing a lot for repair.  In addition, 5 months ago, Mary Jane got a new job and used some of their credit cards so that she could have a new wardrobe for her improved position with the employer.  Then Christmas came and went and they charged some toys for the little ones and gifts for their families.

About a year ago, they began looking to buy their new home.  They found a home that they absolutely loved.  They wanted to make an offer and went to talk to some mortgage lenders to find out what their payments would be.  After meeting with several lenders who had looked at their credit, they realized that their credit scores were lower than they expected.  The debt they had taken on and a few late payments on those credit card bills had put them in a position that they could not quite afford the house they loved.  Houses in a lower price range that were available just were not large enough for their family or were in such poor condition that they could not move right in.  Both working, they just didn’t have the time, skill or cash to rehab a home.  Needless to say, they were very disappointed.  They would have to wait awhile longer and work on their credit.

While driving around on a Sunday afternoon, they spotted a beautiful home with a sign that stated “For Sale By Owner Lease/Purchase Available Bad Credit OK”.  They called the number on the sign and the owner came and showed them the home.  It was just stunning. The owner, Jack, had recently divorced and was struggling with his home improvement business and could no longer afford to live in the home.  Mary Jane and Doug knew that this was much more home than they would be able to afford to buy outright, and signed a lease purchase agreement with the owner feeling they were getting a great deal.  They could paint, improve the home, do anything they wanted to do because they had a purchase agreement with Jack.

They used all but $1000 of their savings to give the owner a $5000 down payment to move in. They agreed to pay Jack $1700 a month for the home. They moved in and their was plenty of room for the kids, their things and Doug even bought the new big screen TV he’s wanted since they moved to town.  Mary Jane got some beautiful light fixtures that they installed in the home and decorated the kids rooms so cute.  Oh how they just loved this house!!

About 6 months after moving in, the sump pump in the finished basement stopped working during heavy rains. Doug opened an account at the home depot, and replaced the sump pump, the damaged carpet and trim and ended up with quite a bill to pay for the repairs. 

In the 7th month, Mary Jane noticed they were starting to get urgent looking mail for the owner of the home, Jack.  She called him, but had a hard time reaching him as his cell phone was disconnected.  When Jack came to collect their payment for month 8, 3 weeks later, he was quite distressed and told the two that he had been unable to pay the mortgage for several months. His divorce was finalized and he had big child support payments now. He explained, nearly in tears, that the bank may foreclose on the home and they will have to move out. Jack apologized profusely to Mary Jane and Doug and drove away.

Stunned, Mary Jane did not know what to do.  She was in a panic.  She made a call to her real estate agent that they had dealt with when they were looking for homes previously and asked her what to do.  The agent advised Mary Jane to contact an attorney.  Doug was just plain mad.  They had paid and paid and even had debt on the home, done all of these repairs and improvements, and for no fault of their own had to move out?  Mary Jane called Jack’s mortgage company to see if maybe they could assume toe loan or make up payments, and found out that even the property taxes were behind and that and homeowners insurance needed to be caught up.  With late fees all to the tune of over $20K!!  They knew there was no way a mortgage lender would approve them for a loan on this home, it was worth way more than they ever shopped for.  They started to look for places to move.

And if you are on the edge of your seat to find out what happened. . .well, it’s a fictional story, but points out what a major pitfall can be to the lease purchase option.  What if Mary Jane and Doug just decided one day they didn’t really like the house enough to buy it? If they were leasing from an investor or builder, the builder may say fine, move right out. And the owner of the home may never have had any true intention of selling, just renting with a big deposit up front, knowing they would have to go in and clean it up to do it all again.  Again, Mary Jane and Doug are vulnerable as they have no way to get a refund of the down payment or for any improvements they added to the home with out paying attorneys and going to court.  .

In lease purchase you don’t own it until the deed is in your name.  Most of the time, at least here in Ohio, this is when the final payment is made to the owner, whether that be with a mortgage loan up the road or actually paying him for years.  Paying lease payments to Jack doesn’t show positive on your credit, does not show that you own anything and you cannot take out an equity line of credit or gain tax deductions benefits on a house you don’t own.

And now, with prices that have declined, I get many calls from folks that have been in lease agreements for a year or two now finding that the price they committed to is to high.  The home will not today appraise for what they need a loan to buy.  Again, an attorney should look over any agreement that you commit to and you should be protected to ensure that you are not overpaying for a home. 

I understand folks with not so good credit who are just so anxious to be in a house they will agree to almost anything.  Many times, I’ve helped people be patient and work through those credit issues, sometimes for years or through several loan resources, and to not be as emotional about what is essentially a huge business decision for your personal finances.  With us being such an instant gratification society, so many people who have bumps in their credit do not want to take the time to untangle the knots and make it better.

I know it’s hard, yes, it takes effort.  It is so wise to calm down, get a reality check and find a resource you can trust to help resolve things.  Whether that be with a credit councelor, your banker, a financial advisor. You need to take this dream seriously!  Otherwise, you are open season to expensive lenders, hungry vendors and opportunists who see you as another way to make a quick buck and not give it a second thought about your well being. The old saying “if it sounds too good to be true, it probably is” applies here.

I am so proud of the people I’ve been so blessed to help who have worked hard to get things back in line.  And completely blown away by some really bright people, especially the young ones, who are on this credit thing and have this down to a science before they ever call me to shop for homes.  Amazing.

And yes, I’ve had some people who contact and question me about lease purchase be absolutely nasty to me treating me as the enemy when I even suggest resolving the credit problems and getting a mortgage.  Well, you asked and I answered, sorry you did not like the answer.  If you want someone to take advantage of your vulnerability, not care, and not discuss the options and pitfalls with you, you’ve called the wrong agent.

Maybe I “shoot myself in the foot” by not doing all I can to take advantage of people and hooking them into something that they cannot afford, but I have to sleep nights folks.  They will find someone else to “help” them I am sure with just a few more calls. And we wonder why there are so many foreclosures?  I want my clients to know that I have their best interest in mind and feel comfortable passing my name along to a friend, co-worker, neighbor or family member as an agent that has patience, does the right thing and keeps her client’s best interest in mind.  That’s the backbone of my business.  So far, so good.  Thanks for reading.