Mama Liz's Blog: June 2009

WARNING!  Please be aware of a message going around asking you to look at a website called FBSTARTER.  This is a password grabber and logs your info for someone else to use.  Please pass this information around and make as many people aware as possible.

Irene Tron
Making Real Estate Enjoyable in Northwest Indiana
www.irenetronrealtor.com

Every time you feel like bitching and complaining, Watch this video. It will help your business!

You will put things into perspective-quickly!

This is the human spirit over-coming everything that can be thrown at you!

http://vodpod.com:80/watch/1165857-walk-on-espn-video

This is a "feel good" kinda' blog, I'm glad I wrote it.

Lawyers. Ya' gotta' love 'em. They'll try anything

to twist and turn a phrase to get their client off. There's a book out there called

"Disorder in the American Courts"; it contains things people said in court,

word for word, taken down and now published by court reporters that had

the torment of trying to stay calm while these exchanges were taking place.

Attorney: This myasthenia gravis; does it affect

your memory at all?

Witness: Yes.

Attorney: And in what way does

 it affect your memory?

Witness: I forget things.

Attorney: You forget? Can you give us an example

 of something you forgot?

Attorney: Now doctor, isn't it true that when a person dies in his

sleep, he doesn't know it until the next morning?

Witness: Did you actually pass the bar exam?

Attorney: The youngest son, the twenty-year-old, how old is he?

Witness: He's twenty, much like your I.Q.

Attorney: Were you present when your picture was taken?

Witness: Are you shitting me?

Attorney: So the date of conception

(of the baby) was August 8th?

Witness: Yes.

Attorney: And what were you

doing at the time?

Witness: Getting laid.

Attorney: She had three children, right?

Winess: Yes.

Attorney: How many were boys?

Witness: None.

Attorney: How many were girls?

Witness: Your honor, I think I need a different lawyer.

 Can I get a new lawyer?

Attorney: How many autopsies have you performed on dead people?

Witness: All of them. The live ones put up too much of a fight.

Attorney: Do you recall what time you examined the body?

Witness: The autopsy started about 8:30 P.M.

Attorney: And Mr. Denton was dead at that time?

Witness: If not, he was by the time I was finished.

Attorney: Doctor, before you did the autopsy, did you check for a pulse?

Witness: No.

Attorney: Did you check for blood pressure?

Witness: No.

Attorney: Did you check for breathing?

Witness: No.

Attorney: So, it is possible that the patient was alive when you began the autopsy?

Witness: No.

Attorney: How can you be so sure, Doctor?

Witness: Because his brain was sitting on my desk in a jar.

Attorney: I see, but could the patient have still been alive, nevertheless?

Witness: Yes, it is possible that he could have been alive and practicing law.

OK, I’ve been working on this for a couple days and Owner Financing is something that is needed and I think it can be a great tool for sellers. But Representative Brad Miller (D) of North Carolina introduced a bill HR 1728 that basically makes it so the average home owner can’t sell their home on owner financing any more than once every three years. Here is a link to read the bill and see its present status HR 1728.

Here is what I see presently. I work with a lot of people that are upside down in their homes because of the current market. Owner financing is a way they can sell their home and potentially keep themselves from getting a foreclosure on their credit, or if they have equity, a way to make money like the banks do, and to give people a chance to buy that normally can’t through the normal channels because of situations like mine. I make my money from commissions. I would require a stated income loan. I could make one million this year and next year make ten dollars. Banks don’t like that when they are lending you close to a half million dollars.

I have met many people that have bought and sold many homes on owner financing. It is a choice. Unlike the banks, it is a risk. If the buyer defaults, they may get back a damaged home and they aren’t going to be bailed out. But, if the sale goes well, they can make an additional $100,000 - $200,000 on the sale of their home, if it goes the full 30 years. The bill is trying to stop predatory lending, but is it really? Most of these people that I know are just trying to get in to a home. They have the down, but don’t like to deal with a bank for whatever reason. They understand what interest they are paying, they also know that they can claim that on their taxes, so are they really losing?

But, here is why this scares me and it isn’t because I will lose business, because more than likely I won’t. It will just shift, as the market always will. Sellers will find a way to sell their home. You see the real reason this scares me is because the government is once again setting up another law that is telling private citizens that they can’t sell their home as they see fit, they have to use a third party. (Banks) Now, on the surface they say this is to protect buyers, but is it really just another way to protect banks, that are now government owned.

The government is getting into your lives more and more each day as they pass more and more laws to regulate what you can and can’t do. Each one is slowly taking away your freedoms, your civil rights. You think they will stop at this one, and even though I am a real estate agent and this could benefit me, what do you think the next step is? Could they outlaw people from selling FSBO? (For Sale by Owner) I think they certainly could propose this next, and even if I believe it will put money in my pocket, I disagree with it 100%. I think people need to have the right and the ability to sell their home on their own, if they choose to.

The government is slowly taking away your civil liberties, one by one, and getting into private business. Every time the government takes over another business and says it is for the good of the country, we are once step closer to the government not allowing private business to even exist in this country. Over the past 20 years, country after country has disappeared that once had their systems set up that way. What makes you think our government could run it any different? We are not too large of a country to fall, Rome thought they were safe and look what happened.

Some people believe the government should run businesses. But ask yourself this, what is the one thing that government has ever had their hands in that was able to run smoother and more efficiently than the private sector has? I’ll give you a hint… the answer is NOTHING! If you said the military, I will have to correct you and remind you in the 1700 our PRIVATE military overran the English governments arm with 1/10^th the man power of the English.

So, don’t forget that our country is still free and every time you vote to have one person’s liberties or choice taken away, you are one step closer to them taking yours.

Todd Clark - Broker / Sales Coach
Palazzo Realty Group
Phone: (503)524-9494
Fax: (503)622-8739

©2009 Todd Clark - As someone who specializes in Owner Financing and Lease Options, I’m SCARED!

US House set to send tobacco bill to Obama

After more than a decade of efforts by smoking opponents, Congress prepared to take a final vote Friday on legislation giving the U.S. government far-reaching powers to regulate tobacco. . . . . . more.   

It gives the FDA power to order changes to ingredients, including tar and nicotine, to protect public health.

* * * *

It's that last sentence that gives me chills and explains why Philip Morris supported the bill. 

The FDA will no doubt limit the amount of nicotine in tobacco products.

Smokers who are addicted to nicotine will smoke twice as much to try to stop the itch caused by the addiction.   

Smokers will buy more cigarettes to get the same amount of nicotine.

OF COURSE PHILIP MORRIS SUPPORTED THE BILL.

Cha Ching!

 

I had a client that was very interested in purchasing a property and wanted to go out and start shopping right away.  "These are all the things that the house must have.... here is what I am willing to pay.... I have excellent credit so that will not be a problem... I will have to sell my house, but I want to find a suitable replacement first."

Well, you might be ready, and almost willing, but you are not quite able at this point. That is, not without risk.

This is still a buyer's market, but that is changing. Especially if you are looking in a price range where you are in direct competition with numerous buyers that do not have a house to sell first. If you find a property and you want to make an offer, you will have to make it with a home sale contingency. With a home sale contingency, the seller is going to ask if your house is under contract with a buyer, and will assume that it is at least listed for sale. 

If they find out you do not even have your house up for sale (and they most likely will), they may turn down your offer outright and consider that you are not a serious buyer. If you think you can make a low offer when you have a house to sell, you might as well save yourself the effort. However, in the event your offer is accepted, the seller will most likely include a 48 hour first right of refusal clause. The seller will continue to market the property for sale with a disclosure that it has an offer pending with a home sale contingency. Be aware, this leaves a window of opportunity for another buyer (which I will mention later).

Now what? You love the house and do not want to see someone else purchase it so you are faced with finding a buyer for your home really fast. How do you sell a house really fast in this market? You have to price it very aggressively. Even then, it does not guarantee that you will sell your house fast. Not to mention that being in a position where you have to sell quickly will make you much more susceptible to accepting a lower offer. What did that just cost you?  Oh, and what about that buyer that makes an offer to purchase your house, but has a house to sell first. Do you want to accept the offer with a 48 hour first right of refusal? Not really.  

Say it isn't so, someone came forward and is able to buy the property you have an option to purchase? They can if they have like (or better) terms. You are now forced with a decision. Either remove your home sale contingency and purchase the property, or forfeit the house which will then be sold to the other buyer. That hurts, you just lost the house you really wanted. Now you have to start all over again.

A better solution, would be to list your house for sale now. If you are afraid that you might not be able to find a suitable replacement, then disclose that in your listing and make your sale contingent upon finding suitable housing. It is not difficult, and will give you some peace of mind.

You will be perceived as a serious buyer when you start shopping for your replacement home.  Any favorable action that you can take toward improving your ability to purchase will bring you closer to a successful outcome. It will also save you money. Call your Realtor today and ask for more details.

---

Whether you are buying or selling a home in Bourne, Carver, Duxbury, Kingston, Lakeville, Middleboro, Pembroke, Plymouth, Pinehills, Rochester, Wareham or Cape Cod - call me 508-947-2295, ext 210.  Call on Judy for all of your real estate needs.

For a list of properties for sale in Plymouth or Barnstable counties, please visit my website FocusedonRealEstate.comor contact me directly Judy Jennings - Realtor® Serving Plymouth & Barnstable Counties for a free consultation.  

You can also click on the link below and sign up to receive property listings in Massachusetts immediately.

OK  I know that many of you think that as a REALTOR, we shouldn't have a job on the side. Let me ask you this? Does having a job make me less of a REALTOR?

My answer to you would be ABSOLUTELY NOT! First let me explain.... I have a job, had this job when I got into Real Estate and plan on keeping way after business picks up. I enjoy the job I have and I enjoy Real Estate.

But having a job doesn't make me less of a REALTORto my customers, and quite frankly, my customers know I work. I tell them up front, but I also tell them they can always reach me even if I am at work.

None of my deals and I mean none gets neglected. I keep all my files with me and make my calls when I need to make them. I keep on top of them as if I was in the office or at home.

If a customer calls me and leaves a message they know that I will call them back within the hour and if they need me sooner they send me a text message and I answer them back right away!

Point being, I know that there are many REALTOR'S out there who are contemplating whether or not to get a job to hold them over. But are afraid they people will look down upon them because they did so.

You know what? It doesn't bother me in the least. And if that's what you have to do, then do it! I would still send you a referral!

Jeannette Neerpat
9000 Sheridan Street
Pembroke Pines, Fl 33024
www.Neerpat.com

Would you like a Free Market Analysis? Visit www.Neerpat.com or call 954-993-4104.

Questions Answered About the $8,000. Homebuyer Tax Credit
Rob Dietz, Ph.D. discusses the $8,000 first-time home buyer tax credit in this video interview provided by the National Association of Home Builders. 

What does the $8,000 tax credit mean for you?

• Buy a home and you may qualify for the $8,000 tax credit on your 2009 taxes
• Even if you don't owe $8,000 in taxes, you may receive a refund check for the difference
• You or your spouse can't have previously owned a home in the last 3 years
• You cannot make more than $75,000 adjusted gross income, or if married, $150,000 adjusted gross income
• The home that you purchase has to be your primary residence
• If you sell the property within 3 years, you will have to repay the money back to the government.  If not, the money is yours to keep with no strings attached.
• Consult your tax advisor for more details.
• Consult your local expert Realtor® when you're ready to start shopping for that new home!
  

 

 

Respectfully to the White House

I am a wife, mother, tax payer and concerned citizen..working on commission.  There is a good chance I might have to work a second job.  In Daytona Beach there were only 339 closed transactions for the month of May..I wonder just how many were short sales and foreclosures...with over 1200 REALTORS...there are those that will go hungry or work harder and work a second job and more than likely take a job away from sole provider...or a minimum wage earner.  

I've never worked harder in my life to produce a dollar...to feed my family...to maintain...to live.    I am not here to gripe and am willing to work hard but I would like my voice heard as I experience everyday first hand the trauma...the shame...and the unknown of those suffering financially...with job loss...with a sick loved one..experiencing a short sale or losing the roof over their head.

Bad credit won't help them...because a bank won't help them. You feel that by loaning $689.8 billion to 592 institutions..this will help..but where exactly is this money going but more importantly how are these funds being used to benefit the economy..to help the people?  

I have tried to work with people who attempted to get loan modifications but because they are late or have a type of loan that no longer exists today...they do not qualify!  They feel powerless...some are hungry and some on their way to be homeless.but as a REALTOR I can only do so much but the government can do more.

The last short sale I did took months to process and the one before we had to threaten to call CNN.  If banks would streamline their process..would be more efficient it seems to me they lack concern because the government stepped in. When these same bailout recipients do not abide by their own policies...do not follow their own time lines and at the end reduced my pay drastically.  

My brother is a perfect example perfect credit worked hard all his life...then several tragic things happened to him beyond his control...several hurricanes in a span of 5 years which destroyed his house and the insurance company didn't cover a third of the cost.  His wife got sick and even with insurance the medication is through the roof. She has applied for disability but a lawyer will be needed..and where is he supposed to get these funds?  His wife was denied...and its clear she can no longer work...but the red tape..and time it takes to process disability has taken a toll on his wallet. 

My brother tried everything he could to stay current but slowly started feeling the choke...so he worked a side job to stay current on his mortgage..2 jobs, a sick wife and repairing his home..he didn't want to walk away but if he continued the route he was going ...it would have killed him...he got sick himself and the best thing for him was to move.

He found a perfect solution and kept his mortgage current and decided to rent his house and relocate to Alabama..little did he know after being in Alabama for 3 months he would not be working today. The tenant that was supposed to move into his house...never moved in...because they were unemployed and are still unemployed today.  Now the house sits because he can't get a loan modification and he can't pay his bills.  Sucks for him and his wife..my family and his neighbors.  Everyone suffers..everyone pays!

What about the people who can't keep food on their table?  Or lost their jobs? These are the people I am talking about...not the frivolous..but the sick...the unemployed. the minimum wage earners and the uneducated.  We as a country must invest in people rather than establishments because Establishments change and establishments go under.  We can survive as a society without establishments but people should matter first and foremost... we need people as a society!

When I think there are people out there trying to survive on minimum wage or one salary..how can the U.S. government feel good about lending this ridiculous amount of money to Establishments.  As wages should increase every year one thing is guaranteed we as the taxpayer will be paying more taxes every single year and probably the rest of our lives.  For some employees they have taken pay cuts..lost benefits and will not see a pay increase for a very long time.

We say retirement age is 65 but really truly do you think people will and can actually retire and will they have enough money to live?  Please no more bailouts to establishments...its we the people and not establishments...remember..... we the people put their faith in you..all of you! 

Sincerely,

Midori Miller

Bailout the People and not Establishments!

President Obama is committed to creating the most open and accessible administration in American history.

While some may think this is not your fight in truth it is everyone...its impacting...you...me and many others.  With empty houses...property values....and more broken dreams, uncooperative lenders, ridiculous time lines and the excessive cost to taxpayers today, tomorrow and the future. 

Sometimes all it takes...is that one extra voice...

Contact the White House June 5th, 2009