Straight from the famous Queen lyrics! We want it all and want it now! Don’t we?! You might be starting your home search and think that you’re pretty level-headed about what you want. Most people do. I did too when I was looking for my last home. When I ask someone what they’re looking for, it makes me chuckle after minutes go by and they suddenly realize their list kept getting longer and longer and longer! What I encourage every buyer to do is to write down the following list:
1.) One column for Must-Haves
2.) One column for Can Live Withouts
3.) One column for Indifferent
Once you’re done making that list, rate them all highest to lowest priority in each column. For instance, if you had 13 must-haves, put them in order of what you would want first, 1-13. I know it sounds crazy, but there’s a reason behind it. Let’s say a pool and tile floor is on your must-have list, but they were ranked 9 & 11 in that column. These are things that may have been deal breakers before this list, but what you begin to realize after spending time doing this is that there are things you can change/upgrade yourself after your purchase the house…or maybe it’s not a must-have after all. Trust me, if we COULD have it all then we all would! That’s not how life works…and, for good reason! We learn to compromise, get out of our comfort zone and discover new likes and dislikes.
To read the rest of Kristen Pell's article on PropertyGuiding , CLICK HERE
Title Junction partners with Kristen Pell in blogging on Property Guiding, come subscribe!
Friday, May 25, 2012
Friday, May 18, 2012
Home Ownership Resource Center in Lee County, FL
The Home Ownership Resource Center is in a new, high-profile location in Fort Myers as it braces for a major reworking of the programs designed to save people from foreclosure.
Formerly in four locations scattered around Lee County, the private, nonprofit agency moved two weeks ago into space it leases in the Fifth Third Bank building on Colonial Boulevard just west of Metro Parkway.
Executive director Eddie Felton said the consolidation will let him operate more efficiently as the state prepares to roll out revised federal programs that will let more people qualify for help with foreclosure issues.
Under the old setup, “My operations budget was killing me,” Felton said. “I feel really blessed” to have the new location.
If the U.S. Treasury Department approves the state’s proposed revisions for the federal programs administered by the state, the changes will go into effect mid-June, said Cecka Rose Green, communications director for Florida Housing.
Felton said the one he’s most looking forward to would remove the requirement in the Hardest Hit Fund Program that only people fewer than six months behind on a mortgage payment were eligible.
“Previously, if a person was six months behind or more there was nothing we could do,” he said. If the new rules go through, “We can help basically anybody.”
Green said that under the proposed changes, Hardest Hit also increases the amount of help people can get on their mortgage payments from $12,000 to $24,000 and also reinstates the delinquent loan up front.
The need for that help isn’t going away anytime soon.
READ MORE on this article from Dick Hogan, News-Press
Formerly in four locations scattered around Lee County, the private, nonprofit agency moved two weeks ago into space it leases in the Fifth Third Bank building on Colonial Boulevard just west of Metro Parkway.
Executive director Eddie Felton said the consolidation will let him operate more efficiently as the state prepares to roll out revised federal programs that will let more people qualify for help with foreclosure issues.
Under the old setup, “My operations budget was killing me,” Felton said. “I feel really blessed” to have the new location.
If the U.S. Treasury Department approves the state’s proposed revisions for the federal programs administered by the state, the changes will go into effect mid-June, said Cecka Rose Green, communications director for Florida Housing.
Felton said the one he’s most looking forward to would remove the requirement in the Hardest Hit Fund Program that only people fewer than six months behind on a mortgage payment were eligible.
“Previously, if a person was six months behind or more there was nothing we could do,” he said. If the new rules go through, “We can help basically anybody.”
Green said that under the proposed changes, Hardest Hit also increases the amount of help people can get on their mortgage payments from $12,000 to $24,000 and also reinstates the delinquent loan up front.
The need for that help isn’t going away anytime soon.
READ MORE on this article from Dick Hogan, News-Press
Friday, May 11, 2012
Nat'l Flood Insurance Program is ABOUT TO EXPIRE!
June 1 marks the first day of the 2012 Atlantic hurricane season. And if Congress does not act, it could also be the day that millions of homeowners, renters, and businesses learn the hard way their property is not insured against the devastating floods that often follow a hurricane.
But it's not just people who live in states affected by hurricanes who should be nervous. Flooding is one of the most common forms of natural disaster and affects nearly every region of the country—from the aftermath of blizzards in the Northeast, hurricanes along the Gulf Coast, river surges in the Midwest, or tsunamis on the West coast.
What does this have to do with Congress? On May 31, the National Flood Insurance Program is set to expire. Congress established the program in 1968, as flood damage is not covered under a standard homeowners policy. Today the program provides federal flood protection to more than 5.6 million individuals and businesses across the nation, in more than 20,000 communities.
Over the past several years, Congress has pursued a dangerous and inconsistent band-aid approach of short-term fixes to the flood insurance program. There have been 12 short-term extensions of the program since September 2008, leading to lapses in the flood insurance program coverage when Congress failed to act in time.
Flood insurance cannot be purchased during program lapses, nor can existing policies be renewed. These lapses in coverage have left homes and businesses even more vulnerable to devastating floods, while leaving taxpayers more exposed to costly relief efforts. Congress and consumers face a potential economic nightmare in both public and private markets if a major storm occurs during a lapse.
The flood program not only needs to be reauthorized, but it is desperately in need of structural reform. The National Flood Insurance Program is deeply in debt and must get back on a more sustainable path. Following Hurricane Katrina in 2005, the program incurred over $18 billion in debt and found itself on the Government Accountability Office's "high-risk list" of federal government programs. To put this in perspective, if a private insurance company held no surplus and carried billions in debt for six years, state regulators would immediately shut it down and the CEO would be fired. And yet, the flood insurance program is both statutorily unable to charge adequate rates and often unwilling to raise prices by even the amount it is allowed, despite its massive accumulated deficit.
A long-term extension of the flood program with fiscal rate reforms is supported by a broad coalition, including consumers, insurers, environmental groups, taxpayer groups, the real estate industry, the construction industry, and the overwhelming majority of both parties in Congress. And Wednesday, the Property Casualty Insurers Association, the National Association of REALTORS, the Independent Insurance Agents and Brokers of America, and the Nature Conservancy have been invited to testify before the U.S. Senate to demonstrate the urgency of bringing stability to a program relied on by millions of Americans.
In the Bible, Noah built the Ark before it began to rain. This month, Congress has the opportunity to make sure the taxpayers don't get soaked by enacting long-term reauthorization and reform before the first raindrop falls.
Article By: David Sampson, President and CEO of the Property Casualty Insurers Association of America
Title Junction wants to know how you feel about this?
But it's not just people who live in states affected by hurricanes who should be nervous. Flooding is one of the most common forms of natural disaster and affects nearly every region of the country—from the aftermath of blizzards in the Northeast, hurricanes along the Gulf Coast, river surges in the Midwest, or tsunamis on the West coast.
What does this have to do with Congress? On May 31, the National Flood Insurance Program is set to expire. Congress established the program in 1968, as flood damage is not covered under a standard homeowners policy. Today the program provides federal flood protection to more than 5.6 million individuals and businesses across the nation, in more than 20,000 communities.
Over the past several years, Congress has pursued a dangerous and inconsistent band-aid approach of short-term fixes to the flood insurance program. There have been 12 short-term extensions of the program since September 2008, leading to lapses in the flood insurance program coverage when Congress failed to act in time.
Flood insurance cannot be purchased during program lapses, nor can existing policies be renewed. These lapses in coverage have left homes and businesses even more vulnerable to devastating floods, while leaving taxpayers more exposed to costly relief efforts. Congress and consumers face a potential economic nightmare in both public and private markets if a major storm occurs during a lapse.
The flood program not only needs to be reauthorized, but it is desperately in need of structural reform. The National Flood Insurance Program is deeply in debt and must get back on a more sustainable path. Following Hurricane Katrina in 2005, the program incurred over $18 billion in debt and found itself on the Government Accountability Office's "high-risk list" of federal government programs. To put this in perspective, if a private insurance company held no surplus and carried billions in debt for six years, state regulators would immediately shut it down and the CEO would be fired. And yet, the flood insurance program is both statutorily unable to charge adequate rates and often unwilling to raise prices by even the amount it is allowed, despite its massive accumulated deficit.
A long-term extension of the flood program with fiscal rate reforms is supported by a broad coalition, including consumers, insurers, environmental groups, taxpayer groups, the real estate industry, the construction industry, and the overwhelming majority of both parties in Congress. And Wednesday, the Property Casualty Insurers Association, the National Association of REALTORS, the Independent Insurance Agents and Brokers of America, and the Nature Conservancy have been invited to testify before the U.S. Senate to demonstrate the urgency of bringing stability to a program relied on by millions of Americans.
In the Bible, Noah built the Ark before it began to rain. This month, Congress has the opportunity to make sure the taxpayers don't get soaked by enacting long-term reauthorization and reform before the first raindrop falls.
Article By: David Sampson, President and CEO of the Property Casualty Insurers Association of America
Title Junction wants to know how you feel about this?
Tuesday, May 8, 2012
"Best Job" for the Future : A Real Estate Agent
U.S. News and World Report lists “real estate agent” as one of the country’s best jobs in 2012, at least
sort of.
While sales agent appeared nowhere on its main list of hottest jobs in the nation, it did appear as No. 19 on a side list of “business” jobs — and the article took pains to make sure readers understood the difference between a “real estate broker” and a “real estate agent.” Real estate broker was not listed as a good job.
The magazine quoted Labor Department statistics, which suggest there will be a 12.2 percent growth in the number of agents needed over the next decade.
It placed the median wage of sales agents at $40,030, while noting that the top 10 percent of agents can make as much as $95,200. The best job across all professions was “registered nurse.”
(Old Republic Real Estate Digest, May 2012)
Title Junction wants to know!!!
sort of.
While sales agent appeared nowhere on its main list of hottest jobs in the nation, it did appear as No. 19 on a side list of “business” jobs — and the article took pains to make sure readers understood the difference between a “real estate broker” and a “real estate agent.” Real estate broker was not listed as a good job.
The magazine quoted Labor Department statistics, which suggest there will be a 12.2 percent growth in the number of agents needed over the next decade.
It placed the median wage of sales agents at $40,030, while noting that the top 10 percent of agents can make as much as $95,200. The best job across all professions was “registered nurse.”
(Old Republic Real Estate Digest, May 2012)
If you are an agent or a broker, what do you think your profession would be today if you weren't doing this?
Title Junction wants to know!!!
Friday, April 20, 2012
If the Cape had these, I bet no one would complain!
What do you all think of these for Boat Slips/Houses?
ALL I CAN SAY IS WOW!!!!
Friday, April 13, 2012
To get a good deal on a foreclosure...know how banks negotiate!
In a market flooded with foreclosures, homebuyers can find steals easily. Or that's what many of them think until they begin searching. Soon, they learn that only savvy buyers get the best deals.
Understanding how banks negotiate foreclosure deals is a must if you want to buy low in today's market.
Here are five secrets every homebuyer must know when shopping for a foreclosed home.
It's useless to make lowball offers on bank-owned houses that have been on the market for only a few days, says John Thompson, a Realtor at Samson Realty in Chantilly, Va.
"When you haven't had opportunity to expose your property to the marketplace long enough, you would be reluctant to take a lowball offer," Thompson says. "Most of the banks are aggressive with their pricing, but they are not going to give the properties away."
Asset management companies handle sales for banks. These companies price the foreclosed homes close to what they think the properties are worth. And they are given guidelines that stipulate how much of a reduction -- if any -- they are allowed to give during a specific period.
The guidelines vary. Normally banks are more reluctant to lower the price on properties that have been for sale for less than 90 days, says Tatiana Moody, a Realtor who specializes in distressed properties in Las Vegas.
Thompson says that in Virginia he has observed that some banks review unsold listings and consider price reductions every 21 to 31 days.
That doesn't mean you should sit and wait for the lender to reduce the price or accept a lower offer, unless you find the house overpriced. In that case, wait and check back in a few months to see if it's still for sale. If it is, most likely, the price will be reduced.
Read the rest of the article here: 5 Tips To Get A Good Deal On A Foreclosure | Bankrate.com
If you have more questions, ask us at Title Junction!
Friday, April 6, 2012
Cash Buyers Driving Market, Pushing Prices Down
A home-buying tracking service reports all-cash buyers moved into the market at a record pace last year, purchasing homes for themselves and other properties as investments.
The Campbell/Inside Mortgage Finance HousingPulse Tracking Survey found a record 33.2% of transactions were all-cash, up from 29.6% from a year earlier. Among investor homebuyers, the proportion of cash buyers was 74%.
The survey said cash buyers were driving down prices because they offered shorter and more reliable closings. HousingPulse also indicated many of the purchases were of distressed properties, where banks are more likely to negotiate settlements in an
effort to get them off their books.
Article brought to you by Old Republic, Real Estate Digest, April 2012, Vol 38
Do you see this as a trend in your business, let Title Junction know!
The Campbell/Inside Mortgage Finance HousingPulse Tracking Survey found a record 33.2% of transactions were all-cash, up from 29.6% from a year earlier. Among investor homebuyers, the proportion of cash buyers was 74%.
The survey said cash buyers were driving down prices because they offered shorter and more reliable closings. HousingPulse also indicated many of the purchases were of distressed properties, where banks are more likely to negotiate settlements in an
effort to get them off their books.
Article brought to you by Old Republic, Real Estate Digest, April 2012, Vol 38
Do you see this as a trend in your business, let Title Junction know!
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