Tuesday, August 30, 2011
Thursday, August 25, 2011
7 Steps to Buying a Short Sale
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7 Steps to Buying a Short Sale
Today’s real estate market is yielding great opportunities for home buyers, such as short sales. Short sales, however, can be a complicated and often frustrating process for both buyers and sellers. From home inspection company Pillar To Post (www.pillartopost.com), here are some important tips for pulling off a successful short-sale transaction:1. Finding Short Sale Properties
Most short sales are listed by real estate agents on local websites and in MLS feeds. Because some lenders complain that identifying a property as a short sale enables buyers to lower their bids, agents will slip in terms that more subtly identify the listing as a short sale, such as:
- "Subject to bank approval"
- "Pre-foreclosure"
- "Notice of Default"
- "Preapproved by bank"
- "Headed for auction"
Make sure the real estate agent you choose to work with has experience and/or certification in short sales. The buying process is often far more complex and far longer than a typical home sale, so a trained ally on your side can make your experience successful.
3. Investigate the Mortgage and Liens on the Property
Your agent must be able to: uncover how much the mortgage is worth; find out how much the current owners paid and when; find out how many liens are on the property; find out which lender is the primary lien holder; research comparable sales in the area.
4. Have a Home Inspection
Since many short sales are sold “as is,” with no contingencies allowed, having a home inspection is imperative. If extensive repairs are needed, the home may not be a bargain after all.
5. Write a Complete Offer
Remember, the lender—not the owner selling the property—decides whether your offer will be accepted, rejected or countered, so helping the lender will help support your bid. Be sure to include the following materials with any short-sale offer:
- Cover letter
- Signed owner/borrower short-sale purchase agreement
- Seller hardship letter
- Seller payroll stubs
- Two years of seller tax returns
- Market comparables
- HUD-1 closing net sheet
- Repair cost estimate
- Pictures of property
If the lender rejects or counters your written offer, you’ll have to negotiate with the lender by making a higher offer. Be prepared to offer more money to close the deal, or to walk away if it doesn’t make financial sense.
7. Be Patient
In today’s market, short sales are overloading many lenders. Processing and decision-making times for some lenders can be quite long—up to a year or more. So make sure you’re prepared to hang in there.
As a Member of the Top 5 in Real Estate Network®, I have a wealth of real estate and homeownership information that may be of help to you. Feel free to contact me any time to learn more about this important information, and be sure to forward this article on to any friends or family that may be interested 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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Thursday, August 18, 2011
Top 5 Ways to Protect Your Identity Online
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Top 5 Ways to Protect Your Identity Online
While the Internet is increasingly becoming our go-to source for instantly connecting with others, conducting business, shopping and more, there are certain safety precautions we need to consider. Whether we’re at our desktops at the office, on our mobile devices on the road, or accessing the Internet through a computer in a public space, such as a hotel business center, we must be cognizant of cyber crime and know where the risks lie.According to David Nelson, an FDIC fraud specialist, there are specific steps you can follow to minimize the risk of identity theft and other online attacks. Here are his top five suggestions:
- If you bank online, frequently check your deposit accounts and lines of credit to spot and report errors or fraudulent transactions, just as you should with traditional banking.
- Never give your Social Security number, credit or debit card numbers, personal identification numbers (PINs) or any other confidential information in response to an unsolicited email, text message or phone call, no matter who the source supposedly is.
- Don't open attachments or click on links in unsolicited emails from anyone you don't know or you otherwise aren't sure about. And watch out for sudden pop-up windows asking for personal information or warning of a virus.
- Be on guard against scams hiding behind online coupon offers. Beware of any coupon site that asks for personal, financial or payment information, which can be misused by criminals.
- Be careful if you download banking software onto a smartphone. The latest emerging threat comes from criminals selling malicious software for mobile banking, some even falsely displaying bank logos. These applications may contain spyware, and downloading them could give a hacker access to your bank account or payment card information. Only download mobile banking applications from a safe site, such as your wireless provider, phone manufacturer or your bank. When in doubt, contact your bank before downloading any banking applications to your cell phone.
As a Member of the Top 5 in Real Estate Network®, I have a wealth of real estate and homeownership information that may be of help to you. Feel free to contact me any time to learn more about this important information, and be sure to forward this article on to any friends or family that may be interested as well.
Sincerely,
| Barbara Corsi BCorsi@Rockcliff.com J. Rockcliff Realtors Office: 925-253-7045 Mobile: 925-788-7589 http://www.BarbaraCorsi.com |
This email was sent by RISMedia, Inc. on behalf of Barbara Corsi.
If you wish to edit your subscription or unsubscribe, please click here.
Friday, August 5, 2011
Top 10 Ways to Conserve Water
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Top 10 Ways to Conserve Water
As the summer peaks, things keep heating up. Whether it’s your pool, the kids’ sprinkler, or your wilting flowers, water usage notoriously skyrockets at this time of the year. Here are some great ways to conserve water - inside and out:1. Don’t overwater your lawn. An easy test to tell if your lawn needs water is to simply walk across the grass. If you leave footprints, it's time to water. In fact, fewer, deep-soaking waterings encourage deep root growth and stronger turf. And don’t water on windy days when evaporation is greater.
2. Water in the early morning. As much as 30% of water can be lost to evaporation by watering during midday. Put mulch around trees and in gardens to further prevent evaporation.
3. Set your lawn mower one notch higher to make your lawn more drought-tolerant.
4. Shut the water off when shaving or brushing your teeth. Use Post-it notes as friendly reminders above the sink.
5. Use a broom instead of a hose to clean your sidewalk, driveway, or patio.
6. Forego the hose and wash your car with a bucket and sponge instead. According to EPA WaterSense, a hose left running can waste as much as six gallons per minute while a bucket and sponge uses only a few gallons to do the job. Try driving your car onto the lawn when you wash it and water your lawn at the same time!
7. Use the trash can. By using the garbage disposal less and the actual garbage more, you can save 50 to 150 gallons of water a month.
8. Run dishwashers and clothes washers only when they are full. If you have a water-saver cycle, use it.
9. Use a timer when showering. This will be particularly difficult to reinforce with teenagers but worth the effort—an extra five minutes in the shower could mean another 50 gallons down the drain! Use a moderate stream or, better yet, a low-flow shower head that has maximum force using minimal water.
10. Regularly check your toilet, faucets and pipes for leaks and have them fixed promptly. An easy test for toilet leaks: Place a drop of food coloring in the tank. If the color tints the water in the bowl without flushing, there's a leak. Check your water meter before and after a two-hour period when no water is being used. If the meter changes at all, you probably have a leak.
As a Member of the Top 5 in Real Estate Network®, I have a wealth of real estate and homeownership information that may be of help to you. Feel free to contact me any time to learn more about this important information, and be sure to forward this article on to any friends or family that may be interested as well.
Sincerely,
| Barbara Corsi BCorsi@Rockcliff.com J. Rockcliff Realtors Office: 925-253-7045 Mobile: 925-788-7589 http://www.BarbaraCorsi.com |
This email was sent by RISMedia, Inc. on behalf of Barbara Corsi.
If you wish to edit your subscription or unsubscribe, please click here.
Tuesday, August 2, 2011
5 Tips to Save Money in Your New Home
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