Top 5: How to Qualify for a Mortgage in Today's Credit Crunch

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How to Qualify for a Mortgage in Today's Credit Crunch

There may have never been a better time to buy a home than right now. Earlier this month, interest rates dropped again -- the average contract interest rate for 30-year fixed-rate mortgages decreased to 4.79% from 4.93%, according to loanrateupdate.com -- and there is still plenty of inventory, keeping home prices relatively low in our area.

Those positive factors, however, are often offset by tighter lending standards, causing many to shy away from applying for a mortgage. As a Member of the Top 5 in Real Estate Network®, however, I have learned that it really boils down to four main factors that will impact a lender's decision:

• Your ability to make a downpayment - usually between 3% and 20% of the purchase price -- of course, the larger the downpayment, the better your odds of securing the mortgage.
• Two years of steady employment - at the same job or in the same field.
• Good (but not necessarily perfect) credit score - these days, around 660 may do it.
• Monthly income between two and three times the estimated monthly mortgage payment.

I have had many clients, however, who have qualified for a mortgage without completely meeting the above criteria ... so don't rule yourself out too soon. There are several other steps you can take to secure a mortgage, such as these ideas from BusinessWeek:

• Meet with a lender anyway. You may find out that you qualify after all, and if not, the lender can tell you exactly which areas to focus on in order to qualify in the near future.
• Ask your real estate agent if they work with a particular lender or mortgage broker. An experienced agent works with many lenders and may even offer in-house mortgage services.
• Get a co-signer. This isn't easy, because if you default on a loan, the co-signer will be responsible for paying it. But if you know someone with good credit who has great faith in your ability to pay, a co-signer could be a workable option.
• Plan for the future. If it turns out you cannot qualify for a home loan right now, have your real estate agent help you map out a plan for improving your credit qualifications over the coming months. If you make homeownership a serious goal, you should be able to qualify in the not-too-distant future.

For more information about applying for a mortgage, please feel free to contact me. And be sure to share this email with family and friends who might also be considering a home purchase -- this market is just too good to miss out on!

Sincerely,

Barbara Corsi BCorsi@Rockcliff.com J. Rockcliff Realtors Office: 925-253-7045 Mobile: 925-788-7589 http://www.BarbaraCorsi.com

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Top 5: Easy Energy-Saving Ideas for Spring

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Easy Energy-Saving Ideas for Spring

Spring is finally upon us, which means things will be heating up in no time...including your electric bill.

In today's economy, it's important to reduce expenses wherever possible, especially those costs related to your home. As a Member of the Top 5 in Real Estate Network®, I have seen how seemingly small steps in home maintenance can yield big results in terms of savings. Whenever working with clients, therefore, I make sure to point out the various ways they can save energy. Not only is it good for the environment, it's good for your household budget as well.

Here are some great energy-saving ideas to look at this spring:

Start at the top. Now is the perfect time to make sure your roof has adequate ventilation. As the weather gets increasingly warmer, heat builds up in your attic and good ventilation is critical to cutting cooling costs and protecting your shingles, as well.

Check your cooling system. An annual inspection is key to keeping your air conditioning system at peak performance. Early spring is the best time to call a local contractor to schedule a check-up. Make sure air conditioning units are free of obstructions inside and out. When embarking on spring clean up, be sure to trim bushes, and clear away leaves and other debris away from your outdoor condenser.

Consider a furnace replacement. You may be using your furnace less as the weather warms up, but if it's an older model, now may be the time to take advantage of end-of-season sales to replace it with one that's more energy efficient.

Landscaping plays a part. Plant trees on the south and west side of your house to provide cooling shade.

These are just some of the ways to help reduce energy costs and also protect one of your greatest investments...your home. Please contact me for more home ideas and be sure to pass this information on to your fellow homeowners as well.

Sincerely,

Barbara Corsi BCorsi@Rockcliff.com J. Rockcliff Realtors Office: 925-253-7045 Mobile: 925-788-7589 http://www.BarbaraCorsi.com

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Top 5: Top 5 Ways to Make Moving Less Stressful

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Top 5 Ways to Make Moving Less Stressful

Moving into your brand new home is one of the happiest, most exciting moments of your life. Unfortunately, it can also be one of the most stressful. The perils and pitfalls of packing up your possessions and safely moving them to another location -- whether around the corner or across state lines -- can turn this momentous occasion into a nightmare.

As a Member of the Top 5 in Real Estate Network®, I have helped many clients over the years not just find the home of their dreams, but smoothly move into it as well. There are several important steps to take to ensure a successful move, such as these suggestions from Mayflower Transit:

1. Have the right supplies - Gather up cartons, bubble wrap, packing tape and newspapers before you pack your first box. That includes marking pens, so you can label each box with its contents and intended location in your new home.
2. Get a head start - The sooner you begin, the more stress-free you will be. Aim to fill and mark at least two or three boxes each day. While you are packing is the best time to de-clutter. Throw out or give away items you will likely not want in your new home.
3. Pack your own valuables - As you pack, set aside valuables or irreplaceable items such as jewelry, heirlooms or pieces of artwork that you'd feel more comfortable moving yourself. This should include important paperwork and photos.
4. Notify important contacts - Make a list of utilities at both locations that need to be notified of your moving date. Check off each as you make arrangements for shut-off and turn-on dates. List and contact creditors, Internet providers, and anyone else who will need your new address, including magazine and book or movie subscriptions. Don't forget to file your change of address with the post office at least a week before you move.
5. Prescriptions and pets - Be sure you have enough prescription medications to see you through your moving period - and be sure to transfer existing prescriptions to a pharmacy in your new area. If you have pets, make plans well ahead of time as to where to keep them during the move - and how you'll transport them to your new home.

Simple steps like the above may seem like common sense, but in the throes of such a major life experience, it's the details that often get overlooked and cause the most problems. Please e-mail me for more moving strategies and feel free to forward this information to friends and family who may also be making the big move.

Sincerely,

Barbara Corsi BCorsi@Rockcliff.com J. Rockcliff Realtors Office: 925-253-7045 Mobile: 925-788-7589 http://www.BarbaraCorsi.com

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Top 5: Top 5 Tips for Tackling Home Improvement Projects

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Top 5 Tips for Tackling Home Improvement Projects

In the do-it-yourself age we live in, many homeowners are ready and willing to take on home-improvement projects themselves. But while you may be ready and willing, the real question is, are you really "able?"

I have access to many great home-improvement resources thanks to being part of the Top 5 in Real Estate Network®. The following advice comes from HGTV's Carter Oosterhouse. Heed these suggestions before you embark on your next project:

1. Focus on projects that will pay you back. For example, if you're dealing with hot or cold weather, try to lower heating and cooling bills by properly sealing your home. Look for drafts around windows, doors, and vents,and then use caulk or weather stripping to seal them. It may not be glamorous, but it will pay you back down the road.
2. Know where to start. If you have never taken on a major project, start with spaces such as the living room, spare bedroom, or the garage -- rooms that won't limit your ability to function, says Oosterhouse.
3. Closet reorganization. Many times, people have maxed out their closet and have no more room to add, let alone organize. That's when it’s time to evaluate. Donate clothes you no longer wear to a charity, store seasonal attire in a separate location, and separate his from hers.
4. Break down a big project. Planning is essential. As Oosterhouse says, if you think you can just start up any big job without a plan, then you are in for a world of frustration. Know your capabilities and limitations.
5. Know where the biggest ROI is. The improvements that will most add to the value of your home include, the kitchen, the master bedroom and bathroom. These can boost your resale value and attract buyers who want a space that’s move-in ready.

These are just some of many great suggestions for tackling home improvement projects. Feel free to contact me for more ideas and please forward this email on to your fellow DIY-ers!

Source: Lowe's Creative Ideas magazine, 2010.

Sincerely,

Barbara Corsi
J. Rockcliff Realtors
Office: 925-253-7045
Mobile: 925-788-7589
BCorsi@Rockcliff.com
http://www.BarbaraCorsi.com

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Demographic Shifts Shaping Future of the Housing Market

Hello, Valued Member! Top 5 in Real Estate Network® Members are dedicated to providing you with the most up-to-date, helpful real estate information. This monthly newsletter, "Real Estate Matters," offers articles on a range of topics that will inform you in your real estate pursuits. Having trouble seeing this email? Click to view it as a web page. Add newsletter@rismedia.com to your address book to ensure email delivery. Buying Selling Owning Financing Home Improvement My Website My Listings Barbara Corsi GRI, SRES Realtor J. Rockcliff Realtors My Website Member, Top 5 in Real Estate Phone: 925-253-7045 Cell: 925-788-7589 Fax: 925-402-8022 Email Me This month’s newsletter offers analytical insight into the demographic shifts that are shaping the future of the housing market. Today we are seeing the confluence of a recession driving behavior changes and shifts in the distribution of population. Learn why in this month's newsletter. Real Estate Matters also offers some timely articles on why now is a good time to buy a home, why real estate professionals are more important than ever, and much more. Top 5 Members are uniquely qualified to not only help you get educated on these matters, but make them as effortless as possible. Only Top 5 Members can provide you with the kind of exclusive information found here in Real Estate Matters - a monthly look at what's really happening in the housing market. It's a privilege to provide you with this important information. Enjoy this monthly e-newsletter, and as always, your feedback is welcomed - call or email any time! This Month's Top Story Demographic Shifts Shaping Future of the Housing Market RISMEDIA, March 7, 2011—With the great recession driving unemployment, foreclosures and vacancy rates to historic highs, the housing market has certainly been on one wild ride the last few years. Today, we see the confluence of a deep recession driving behavioral change and shifts in the demographic distribution of the population poised to impact the real estate market in unexpected ways. More Top Stories Get in while the Getting's Good - Why Buyers and Sellers Should Take Advantage of Today's Real Estate Market RISMEDIA, March 7, 2011—The Case-Shiller Index is one of the country’s most popular ways of measuring the movement of home prices. And in its latest rating, which went out in late December, the verdict was: Prices are down. The Case-Shiller report’s 20-City Composite rating was 0.8% lower than it was one year previously; the first year-on-year decrease since October 2009. Working with a Real Estate Professional is More Important Than Ever in Today's Real Estate Market RISMEDIA, March 7, 2011—In a landmark study examining the home buying and selling preferences of consumers in the Mid-Atlantic region, 95% reported that working with a real estate professional is just as important, if not more important, than it was just a few years ago. The survey results were released in a new research paper entitled Keepin’ it Real, by MRIS, the area’s Multiple Listing Service (MLS) and a leading developer of real estate information technology. Winter Season Buyers and Sellers Serious about Making a Deal RISMEDIA, March 7, 2011—(MCT)—Planning a move to Arizona, Martha DeVita originally thought she’d list her Cliffside Park, N.J., home in the spring, when the real estate market traditionally heats up. But faced with this winter’s harsh weather, she put up the “for sale” sign in January. Within a week, she accepted an offer. Stay Warm from the Ground Up: The Basics of Basement Insulation RISMEDIA, March 7, 2011—If heat is escaping your home, this is the time of year when you’ll feel it—in most areas of the country anyway—not just physically, but in your wallet. Too many people spend way more than they should on heating a home due to heat escape. Your first instinct, if you’re spinning your wheels trying to heat your home, is that the culprits are things you see every day, from picture windows in the living room to your bathroom skylight. Have You Heard About The Top 5 Real Estate Social Networking SystemSM? Sign up to receive my free, weekly e-Articles - brief, compelling, home-related informational articles that you or your family and friends will find helpful in pursuing your real estate goals! Here are some article samples recently sent out to my Real Estate Social Network: What You Need to Look for in a Real Estate Professional Tips for Rebuilding Your Credit After Foreclosure 9 Tips for Hiring a Heating and Cooling Contractor Freshen Up Your Home This Winter with 3 Simple Projects Email me for more information. * This monthly newsletter is brought to you by your Top 5 in Real Estate Network® Member Agent and is intended as educational information only. RISMedia's Top 5 Real Estate Network® is a network created by, for, and of "leading real estate professionals" who are dedicated to providing "leading real estate information to consumers." The RISMedia Top 5 in Real Estate Network is backed by the commitment and resources of RISMedia. Top 5 was created to fill a profound void in how high-impact consumer relevant information was presented by leading real estate industry members to increasingly sophisticated, discerning, and demanding consumers, in order to both sustain and elevate the ongoing viability and appeal of the industry's leading professionals. For more information, visit www.top5inrealestate.com RISMedia, publisher of Real Estate magazine, is dedicated to providing real estate professionals with the most up-to-date news, information and business development resources in the industry. To submit questions, comments, suggestion, press releases or story ideas, please e-mail realestatemagazinefeedback@rismedia.com. RISMedia, Inc./Top 5 in Real Estate Network® 69 East Avenue, Norwalk, Connecticut 06851 P (203) 855-1234 F(203) 852-7208 www.top5inrealestate.com © 2010. RISMedia, Inc. All Rights Reserved. This email is intended for: bcorsi3.lizzie17@blogger.com. If you wish to edit your subscription or unsubscribe from Real Estate Matters, please click here.

Top 5: What You Need to Look for in A Real Estate Professional

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What You Need to Look for in a Real Estate Professional

Let's face it -- in today's challenging economy, every penny you can save matters. That's why some homeowners go it alone when it comes time to sell their home. However, according to a recent survey conducted by the Multiple Listing Service MRIS, the vast majority of consumers say working with a real estate professional is the only way to go ... especially in today's market.

In this landmark study examining the home-buying and -selling preferences of consumers in the Mid-Atlantic region, 95% reported that working with a real estate professional is just as important, if not more important, than it was just a few years ago. As a Member of the Top 5 in Real Estate Network®, I know for a fact that this rings true for all areas across the country.

As the MRIS survey reveals, today's consumers recognize this is not the time to complete a real estate transaction on their own, and are placing a stronger emphasis on an agent's professional skills. As such, the following criteria were ranked as the most critical factors in choosing a real estate agent (in order of importance):

• Trustworthiness
• Experience
• Willingness to look out for a client's interest
• Expertise in negotiating contracts
• Responsiveness
• Familiarity with contracts
• Knowledge of the local community

The above requirements are evidence that consumers are seeking more than simple guidance ... they are looking for an expert they can trust to execute a step-by-step process throughout the entire transaction. While most consumers rely on the Internet as the first step in the home-buying and -selling process, a professional, experienced real estate agent -- such as a member of the Top 5 Network -- is critical in helping consumers filter through the copious amounts of information available online in order to make the optimal real estate decision for their specific situation and location.

If you would like more information regarding what to look for in a real estate agent, and specific questions you should ask an agent during an interview, please e-mail me. I encourage you to also forward this email to anyone in your social network who may be considering a real estate transaction.

Sincerely,

Barbara Corsi
J. Rockcliff Realtors
Office: 925-253-7045
Mobile: 925-788-7589
BCorsi@Rockcliff.com
http://www.BarbaraCorsi.com

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