Wednesday, June 29, 2011

Tips for contacting the trustee

Calling the trustee is an important step in pursuing any pre-foreclosure or auction property, but it's not always the easiest or most enjoyable step because many trustees are not geared toward providing information to the general public.

A phone call to the trustee is important because it will help you confirm a property's status before you spend time and effort contacting the owner in pre-foreclosure, or drafting a cashier's check for the auction. But calling trustees can sometimes be frustrating and intimidating for a variety of reasons, including automated sales lines that don't recognize the trustee sale number you enter, or trustee representatives who don't have a lot of time or desire to answer your questions. But it's usually possible to get the information you need from the trustee if you follow these tips:

Be prepared

Make sure you have the trustee sale number (also called the trustee reference number), owner name and property address before you call. The trustee may request one or all of these.

Note: if any of the above information is missing, use the history of notices to try to find it. And still call the trustee even if you don't have all the information.

Be to the point

Don't give a longwinded explanation to the person who answers the phone. Simply say something like, "I'd like to check the status of a property in foreclosure." Trustees tend to respond better when you communicate that you know exactly what you're looking for and don't want to take up a lot of their valuable time.

Be polite

Stay polite even if a trustee doesn't seem eager to respond to your query (keep in mind they are limited in the amount of information they can legally divulge). If they ask for your interest in the property, just respond that you're a third party interested in possibly purchasing the property.

Be persistent

You may be transferred to several different people or even given several different numbers to call before you find the information you need.

Note: the trustee phone number is from public records, but it might not always be the direct number to the department that handles foreclosures.

Are you interested in purchasing a foreclosure? Give us a call at 972.772.7000 or email us at frontdesk552@kw.com.

Monday, June 27, 2011

Renting your Property without Discriminating

Provided By Realty Times

Renting out a secondary suite in your home is a great way to help pay your housing expenses if you have more room in the house than you need. But many small landlords don't realize they are running discriminatory housing advertisements for their units.

The Ontario Human Rights Commission recently studied 28 websites that offer rental housing ads and found that up to 20 per cent of the ads were discriminatory.

"Housing is a human right and by spreading the message that discriminatory housing ads are illegal, we can advance human rights for tenants everywhere," says Barbara Hall, chief commissioner of the Ontario Human Rights Commission.

The commission is reaching out to advertising websites and print media to try and educate the public about discriminatory ads. Some of these sites direct landlords to other sites that outline do's and don'ts of advertising, but the commission says many of these links are U.S.-based. "Most of these statements refer to U.S. Fair Housing legislation, while protections in Ontario and elsewhere in Canada are broader," says the commission. "Sending Canadian site users to these U.S.-based links will give them a false impression of their actual rights and responsibilities."

In Ontario, you can't refuse a tenant because of their age, race, colour, ethnic background, disability, sexual orientation, marital status (including common-law or same-sex couples), religion, citizenship or where they are from. You can't refuse them because you know they are receiving public assistance such as welfare or employment insurance. In some provinces, there are also protections for political beliefs and for those with a criminal record. The only time these rules may not apply is if the tenant is sharing a kitchen or bathroom with the landlord or the landlordís family.

Some examples of ads that may seem okay but that openly discriminate says things like, "Adult building" or "Not suitable for children" or "Seeking mature couple".

More obvious discriminatory ads may say, "Must have working income" or "Must provide proof of employment." You canít say your unit would be ìideal for a quiet coupleî because it implies you donít want singles. You canít say it would be "perfect for a female student" or "suitable for a single professional" or "great for working folks or students." All of these ads may discourage people from applying and are not allowed.

Rather than trying to name the "ideal" person for the unit, have the ads focus on the unit itself, describing the location, size, rent, local amenities and other information about the unit.

You canít say "no pets" because people with disabilities who use service animals like guide dogs cannot be denied access to housing based on a "no pet" policy.

"Not soundproof" would be considered a statement that discriminates against families with children, says the commission.

Unless you are providing subsidized housing, it is also illegal to apply a rent-to-income ratio (such as a 30 per cent cut-off rule) to your tenants.

The commission says that "residents don't have to be working to have money to pay the rent. Research shows that people living on social assistance, pensions or retirement income are just as likely to pay their rent as people who are working."

So how can you protect yourself as a landlord?

You are allowed to ask for information about the tenantís rental history, ask for credit references and perform credit checks. You can ask for income information, but the commission says you can only use this to confirm that the person has enough money to cover the rent.

You can also ask that a guarantor signs the lease, but only if you have the same requirement for all of your tenants. If you ask some prospective tenants for this, but not all of them, you are discriminating.

The commission says that some of the best prospective tenants may not have a rental or credit history because they are young people, women returning to the workforce after long periods of care-giving or the end of a marriage, or newcomers to the country.

Some advertising sites offer suggestions for non-discriminatory language in ads and the commission is hoping that all sites will follow. It also is asking sites to review ads before posting them or to have some systems in place where a monitor can look at an ad and remove it if someone complains that itís discriminatory. It is also asking print media to keep an eye for these ads. More information is available at ohrc.on.ca.

Are you interested in leasing your home? Give us a call at 972.772.7000 or email us at frontdesk552@kw.com.

Friday, June 24, 2011

Choosing the Right Exterior Paint

Provided By Trulia.com

The type of paint you'll use depends on the kind of surface to be painted - wood, aluminum, vinyl, stucco or masonry - and the type of finish you want. Exterior paint is specifically formulated to provide:

•Color and gloss retention
•Flexibility to withstand expansion and contraction due to weather
•Mildew resistance
Latex or Oil
Exterior house paints fall into one of two categories: latex or oil (alkyd). Each has different characteristics.

Latex
Get the longest-lasting finish with the best gloss retention. Latex paints are easy to work with, dry quickly and are extremely durable. Latex paints also clean up easily with soap and water.

Oil / Alkyd
Good adhesion, excellent durability and stain resistance make oil / alkyd-based paints excellent choices for exterior trim. Clean paint tools with mineral spirits.

Matching Paint to Surfaces
To ensure a quality paint job that will last, the paint you'll use depends on the type of surface you want to paint.

Walls
Because it's easy to work with, latex paint is an excellent choice for do-it-yourself projects. Latex paints can be applied over properly prepared wood, vinyl, aluminum and stucco.

Metal
Use either latex or oil/alkyd paint on properly primed iron or steel. You can apply latex directly on aluminum and galvanized metal. However, these metals need to be properly primed if you're using oil/alkyd-based paint.

Trim
Either latex or oil/alkyd paint is appropriate for trim. Gloss and high gloss finishes are generally your first choice, but flat or satin finishes are fine selections.

Selecting a Sheen
Exterior paint comes in a full range of sheens. The finish you choose will be based on the type of surface you're painting and the durability and final appearance you want to achieve.

Flat/ Matte
This finish softens the look of an exterior and helps hide surface blemishes. Flat finishes are ideal for body siding.

Satin
With its slight gloss, this finish offers the benefits of a flat finish with added cleanability. It works best for:

•Trim
•Window frames
•Shutters
•Surfaces that need routine cleaning
Gloss
This lustrous, durable finish is perfect for areas that require frequent cleaning. Gloss finishes, however, may accentuate surface imperfections. This finish is ideal for:

•Doors
•Garage doors
•Decorative metal (lamp posts, metal trim)
•Functional metal (gutters, downspouts, railings)
•Accent trim
High Gloss
This extremely hard and shiny finish provides a rich, smooth luster. Gloss finishes, however, may accentuate surface imperfections. This finish is excellent for:

•Front (main entry) doors
•Decorative fixtures
•Accent trim


Are you looking for a new home to jazz up? Give us a call at 972-772-7000 or email us at frontdesk552@kw.com.

Wednesday, June 22, 2011

Summertime Selling Tips

Provided By Realty Times

Summertime can be a great season to sell your house. Why? During these hot months, your landscaping and outdoor spaces come alive. Today's buyers are looking for extended living areas and love usable outdoor space.

According to HGTV, outdoor spaces can bring in big bucks. Jon Seppala, president of Action Builders, notes, "Backyards and outdoor patios have to be much more substantial than in the past. Built-in grills, outdoor fireplaces, gazebos — people are looking for these features. We've had people who have fallen in love with the house and have decided to buy before they walked in the front door."

The National Association of Home Builders (NAHB) has also identified a trend, noting during a recent panel that young homebuyers (Gen Xers) are looking for homes with a connection between indoor and outdoor spaces, even in colder climates, to create the perception of greater home size, even if the space is only usable for part of the year."

Here are some tips to take advantage of Summer selling.

First, keep your home cool. Have your AC turned up to a comfortable level during showings and open houses. If you live in a region where you don't have or need AC, be sure that you use fans or open windows for breezes to create a nice atmosphere. The last thing you need is a prospective buyer distracted by sweat or humidity. You want them focused on your wonderful home!

Heat also has a way of bringing out the worst of smells in our home. To hold these deal breakers at bay, have your carpets cleaned when you list your home for sale. Next, roll up your sleeves and be sure you clean your home before any showing. Bathrooms, laundry rooms, and kitchen are notoriously stinky. Focus your attention on these!

When your home is listed for sale, it's your responsibility as the seller to keep your yard, landscaping, and pool maintained. Overgrown trees, shrubs, and lawns not only seriously depreciate curb appeal, they can also turn a buyer off.

If you are unable to stay on top of this task each week, hire local workers to keep your yard looking in top shape. This expense will come back to you when you make the sale.

Landscaping is expensive and buyers know this. Why not showcase one of your most valuable assets? Trim existing trees to their best advantage. Have gardens, paths, benches, and pool ready for enjoying. Buyers know that a fully landscaped yard will save them time and money. Plus, it's already ready to enjoy.

As a courtesy to prospective buyers, you may also consider compiling a list of locally recommend handy men, gardeners, and pool maintenance companies.

Finally, staging patios and porches is important. From family gatherings to al fresco meals, these hot spots get lots of use.

Start your staging with a thorough cleaning. Powerwashing decks, patios, and furniture can make dirty items look new again. For furniture that needs a bit more TLC, apply a fresh coat of paint. Next, stage for an "event." Replace wornout cushions and invest in simple outdoor accessories. A selective arrangement of candles, glasses, and even a nice table setting can be the icing on the staging cake.

The bottom line is that caring for the outdoor living spaces of your home can make or break a sale during the Summer. Take full advantage of all your home has to offer.

Are you ready to sell your home? Give us a call at 972-772-7000 or email us at frontdesk552@kw.com.

Monday, June 20, 2011

Neither a borrower - explaining annual percentage rates

Provided By Trulia.com

Humans have a natural tendency to portray themselves in the best possible light. When the neighborhood kid who mows the lawn wants more money, he says his rate is lower than what the other kids are charging. When he gets together with the other kids, he brags about getting paid 20 percent more for the same amount of work.

Consumer credit companies, including mortgage lenders, are no different. When they're lending you money, they like to talk about their low APR, which stands for Annual Percentage Rate. When they're "borrowing" your money (by selling you a CD at the bank, for instance) they advertise their generous APY, which stands for Average Percentage Yield.

APR is the term relevant to mortgage borrowers. But it's useful to understand both, as well as a third concept—compounding.

When you're paying a simple interest loan at a rate of, say, 12 percent per year, it's easy to calculate its effect per month. It's 1 percent. At that rate, a $10,000 debt balance increases by $100 each month or $1,200 each year.

Enter the "magic" of compounding. Einstein called it "the most powerful force in the universe."

For the lender, the magic works this way. After one month, your new balance is $10,100. At that point, the lender starts charging interest not on $10,000 but on the new balance of $10,100. After a year (if you've made no payments) your balance is $12,268. Your simple interest rate was 12 percent but your APR worked out to 12.68 percent.

In fact, for the borrower, it's worse than that. Lenders don't compound monthly—most do it daily. That's the significance of the "daily periodic rate" you see listed at the bottom of your statement. The above 12.68 percent APR becomes something like 12.74 percent. (In a periodic rate, more "periods" means more interest.)

There is more you should know about APR. InvestorWords.com defines it as "the yearly cost of a mortgage, including interest, mortgage insurance, and the origination fee (points), expressed as a percentage."

The add-ons are man-made, not mathematical constructs. But clearly, they're of interest to borrowers when cross-shopping loan rates between banks. Just be sure the same number of points is factored into both figures, or you're comparing an apple to an orange.

Hey, what about APY? Again, that's more relevant when you're the lender. Buy a 12-month CD and the bank will advertise its great Annual Percentage Yield of 1.4 percent - which sounds a little better to you than the APR, which is 1.3-something. Hence, the magic works in your favor for once.

A related note comes from the Lessons for Life Department. Given a choice, be a lender, not a borrower. Better yet, be a bank.

If you would like to learn more about borrowing, give us a call at 972-772-7000 or email us at frontdesk552@kw.com.

Friday, June 17, 2011

Why Own a Home?

Provided By Realty Times

A soft real estate market that is ripe with all the conditions that should entice people to purchase a home still has some renters asking, "Why own my own home?"

Low interest rates, lower home prices and an improving job market still have some buyers sitting on the fence fearful of an uncertain real estate market. Real estate agents and even sellers are finding that prospective buyers (current renters) may need a little more "emotional" attention in these market conditions. They may need a little more explanation to ensure that they understand the benefits of purchasing your home rather than renting another.

While deciding to own a home or rent one is very personal, many tend to let fear of the unknown be the driving force in making their decision and that can later create an unhappy decision.

Here are five top reasons to at least consider owning your own home.

No more landlords: This may be a highly influential factor depending on a potential buyer's experiences. Many renters have poured a ton of money into a home that they're living in to keep it at the standard of living they enjoy, only to find that their landlord is soon planning to sell the home. Their hard-earned cash and money invested into their rented home will then only benefit the seller.

Making a home your style: This is much more difficult to do in a rental. Yes, as I just mentioned, you can make some modifications, but many things that can be done to a home you own can't be done to one you're renting. Taking into consideration Homeowner's Associations or planned community development restrictions, owning still provides more control and flexibility over renting.

Weighing the costs of homeownership: Of course, with homeownership you won't be calling the landlord to come fix your toilet or dishwasher. So, having a financial reserve is important to carry you through the months when you run into unexpected troubles. Websites such as GinnieMae.gov offer price charts that help you compare how much you'll save by buying or renting. It's a helpful tool that allows you to analyze factors such as how much tax savings you're likely to receive, how much possibly equity you'll gain, and how much you're rent may increase.

Long-term plans tilt the scale toward owning: In a recent Tampa Bay article, Walter Molony of the National Association of Realtors said, "For people with long-term plans, the rent vs. buy equation is tilting heavily toward buying because housing affordability is at record highs dating back to 1970," he explains. "Homes are undervalued in many areas—selling for less than the cost of replacement construction—and rents are rising at a faster pace. Many people are considering ownership now as a hedge against inflation."

Low interest rates and affordable homes will not last forever: If you're not ready to buy or simply can't afford to own a home, even the historically low interest rates and exceedingly affordable, home prices might not move you to take the leap into homeownership. However, understanding that these conditions won't last forever is important. Sometimes when conditions persist, we tend to think they'll always be this way.

Distressed sales will begin falling in 2013 and that would then cause home prices to creep upward, predicts Moody's Analytics. With little activity on the homebuilding front, and still a heavy supply, it's not expected to increase much more. Also, the number of new households each year is rising, which is expected to help alleviate the oversupply in the coming years.

Are you ready to own a home? Give us a call at 972.772.7000 or email us at frontdesk552@kw.com.

Wednesday, June 15, 2011

Foreclosure Definitions and Terms

Provided By Trulia.com

Learn more about common definitions and terms used throughout the foreclosure process by mortgage lenders, investors, and real estate professionals.

Notice of Default (NOD): The initial document (non-judicial) filed by a trustee that starts the foreclosure process, usually after the occurrence of a default under the deed of trust, or mortgage. Both LIS and NOD are part of the PRE-foreclosure process.

Lis Pendens (LIS): Notification of pending lawsuit. The initial document (judicial) filed by an attorney or trustee that starts the foreclosure process after the occurrence of default under the deed of trust or mortgage. Both LIS and NOD are part of the PRE-foreclosure process.

Notice of Trustee's Sale (NTS): A filing by notice announcing a public auction.

Notice (Judgment) of Foreclosure Sale (NFS): An order signed by a judge, directing a "Notice of Sale" be published and that a referee (trustee) sell the property at public auction.

Real Estate Owned (REO): "Real Estate Owned" by the lender; the final step in foreclosure process. This document conveys property ownership back to lender.

Government-Owned (GOV): A foreclosed property offered for sale by the government. When a property purchased with a federally insured mortgage (i.e., FHA, VA) is foreclosed by the lender, the federal government pays the lender what is owed, takes possession of the property, and offers the property for sale.

Foreclosure: A legal procedure by which mortgaged property is sold, upon default, in order to satisfy a debt. Foreclosures generally are governed by state law, and rules may vary among states.

Deed of Trust: A type of security instrument where the borrower conveys the property's title to a third party (trustee) to be held "in trust" as security for the note.

Mortgage: A conveyance of an interest in real property, given as security for the payment of a debt. An agreement between two parties: borrower and lender.

Assignment of Deed of Trust or Mortgage: Assumption by a purchaser of liability for payment of an existing mortgage, or deed of trust. May or may not be accompanied by a release of liability of the original borrower.

Novation: The substitution of a new contract between the same, or different parties; a substitution, by mutual agreement, of one debtor for another, or one creditor for another. The result is that the old contract is extinguished, and a new contract is created, usually with the same content, but with at least one different party.

Declaration of Default: A document instructing the trustee (usually appointed by a bank) to prepare and record a Notice of Default (NOD), and if necessary, to sell the property at auction in order to satisfy the unpaid obligation or lien.

Full Reconveyance: A document prepared by a trustee, when an obligation secured by a deed of trust, or mortgage, is paid back in full. Once recorded, this reconveyance eliminates the lien from the property's title.

Junior Lien: A legal claim upon real property recorded subsequent to (after) another claim or legal obligation (for example, a senior lien would have priority in most cases).

Postponement: A verbal announcement made at the time and location of the scheduled trustee's sale, resetting the auction for a later date.

Publication Letter: A letter, when signed by the beneficiary (lender), authorizing the trustee to prepare, publish and record the Notice of Trustee's Sale (notice of auction).

Publication Period: A period beginning at the expiration of the default period, and ending when the trustee's sale has been conducted. During the publication period, the Notice of Trustee's Sale is published, posted and recorded.

Recession of Notice of Default: After an amount in default has been cured, or paid-back, this document, when signed by the lender and recorded by the trustee, removes the burden of the previously recorded Notice of Default.

Reinstatement Period: The time period beginning when the Notice of Default is recorded, and ending five business days before the trustee's auction sale. The default may be cured, or paid-back, at any time during this period by paying all delinquent amounts, including the trustee's fees and costs.

The information above was gathered from sources deemed reliable and is intended for informational purposes only. Please consult official assessment records. State and county terms and policies may vary so consult your local bylaws.

If you or someone you know is facing foreclosure have them give us a call, they do have options! Call us at 972.772.7000 or email us at frontdesk552@kw.com.

Monday, June 13, 2011

Joplin Fundraiser Grand Total

A BIG thanks to everyone for helping us with the fundraiser!

"Helping to Heal the Hearts and Lives of Joplin."

Not only did we make our goal of $500, but.......

we went over the top to $765!!!!!

With the anonymous donor kicking in the additional $500 we made a GRAND TOTAL of $1,265!!!!!!

On behalf of the KW Cares Committee,

Thank you very much for coming through again!

Friday, June 10, 2011

Buying bank-owned properties

Provided By Trulia

If a lender takes ownership of a property, either through an agreement with the owner during pre-foreclosure or at public auction, the lender will usually want to re-sell the property to recover the unpaid loan amount. Check out the tips below to find out how you can navigate a bank-owned purchase.

•Find and file properties
•Research potential bargain
•Contact the bank
•Negotiate a purchase agreement
•Close the deal

Find and file properties

It's important to get up-to-date bank-owned property information and act on it as quickly as possible.

If there's no redemption period mandated by state law, the bank may re-sell repossessed property quickly.

Develop a system to keep track of properties that interest you. A good tracking system is important as most foreclosure buyers pursue many properties, sometimes over a period of several months.

After you find a property online, it's a good idea to drive by the property to get a better idea of the property's condition and the type of neighborhood. Some buyers and investors who have driven by the property have found notices posted there that provide more information about the bank who now owns the property. You'll also see if the property is listed with a real estate agent.

Research potential bargain

When you find a property that interests you, perform some preliminary research to make sure the property represents a good bargain opportunity. Your research should not take more than one or two days because you do not want to delay too long before contacting the foreclosing bank. The key pieces of information you need to gather are the estimated market value of the property and the bank's break-even amount.

The bank's break-even amount includes the unpaid balance of the loan, any fees and costs incurred during the foreclosure process and any other liens the bank had to pay off to take ownership of the property.

Contact the bank

You or your real estate agent should initiate contact with the bank to express your interest in the property. Before you expend the time and effort to contact the bank, make sure you're fully prepared to buy.

At this stage of foreclosure it's more likely the property will be listed for sale on the Multiple Listing Service used by real estate agents, so make sure you or your agent checks the MLS. If the property is listed for sale, you can contact the listing agent directly. Keep in mind that the potential bargain often diminishes if a listing agent is involved.

If the property is not listed with a real estate agent, you'll need to take some pro-active steps to contact the foreclosing bank directly. The bank's main focus is not selling property, which means you may need to do some digging to find the department or person at the bank who manages repossessed property.

When you call the foreclosing bank, you should ask for the REO (Real Estate Owned) department, bank-owned homes department or asset management department. Be patient and persistent at this point because it may take some time to get through to this department.

If you have trouble contacting the bank by phone, another option is to overnight or fax a letter to the bank stating your interest in the property. Some buyers and investors include a check made out to a local escrow company to get the bank's attention. This check is usually a small percentage of the total purchase price and should be refunded if no transaction takes place, but it shows you're a serious buyer.

Negotiate a purchase agreement

Once you make contact with the bank's asset manager or REO officer, you should arrange to walk through the property (with your agent if applicable) to make sure it fits your criteria as a buyer.

If both you and the bank agree to proceed, you should start negotiating the terms of the purchase agreement. A real estate agent can be a valuable resource during the negotiating process.

If state law allows a redemption period for the owner after the bank takes ownership of the property, you may have to wait until the end of the redemption period — several weeks or several months, depending on the state — before the bank is willing to sell the property. During the redemption period the owner can regain ownership of the property by paying the total amount owed to the bank plus any applicable foreclosure expenses.

The bank's primary goal is to at least break even on all the costs that it has sunk into the property. That includes the unpaid balance of the loan, the expenses associated with the foreclosure proceedings, other liens and repairs to the property.

Your goal as a buyer is to purchase the property below market value, minus any estimated repair costs. This is often possible if you contact the bank quickly and are a prepared buyer ready to make a purchase.

In the recent real estate market, buying directly from the bank has not been as profitable as buying during pre-foreclosure or at the public auction. That's not to say there aren't good deals available. Many buyers and investors prefer to buy directly from the bank because it's typically a more predictable process than buying during pre-foreclosure or at a public auction.

You'll probably get a better bargain if you're willing to buy the property "as is", meaning you're willing to buy the property in need of a list of repairs disclosed by the seller. Of course, you'll still want to figure estimated repair costs into your final purchase offer.

Banks may be more willing to sell at a below-market price if they have a glut of foreclosures, which are non-performing assets from their perspective. If you're an investor or buyer looking for more properties to purchase, you should let the asset manager or REO officer know to contact you in the future if the bank needs to quickly unload foreclosure properties.

Close the deal

Once you've arrived at an agreement with the foreclosing bank, you can put the agreement in writing. You should have a local real estate agent or real estate attorney help if you're not familiar with how to draw up a purchase agreement.

Any purchase agreement should make closing of the deal contingent on a full title search conducted by a title company or attorney. The purchase agreement should also allow for a professional inspection of the property before closing the deal.

An escrow company, who acts as a third party, can manage the transfer of money and property ownership. Assuming that you have your financing secured, this should be a fairly smooth process.


Bank owned homes can be one great deal! Call the experts to find out more at 972.772.7000or email us at frontdesk552@kw.com.

Wednesday, June 8, 2011

Moving Advice: Happy Pets

Provided By Realty Times

Transitioning to a new home and routine can be difficult for many pets. The stress and worry can cause out of character behavior, as well as lowered immune responses.

In order to ease your pets into a move, it's important to consider what makes them feel safe, secure, and stable.

First, if you are moving out of the area, be sure that your pet is current on all of their vaccines and treatments. Refill any prescriptions and consider microchipping your pet, as moves are a common time that pets become lost.

Be sure that you are well-stocked on their normal food and treats. Changing diets can cause upset tummies and general unrest. In fact, it may be best to pack a Ziplock bag of dry food in your overnight bag. This way there is no scramble to find food at the last minute.

On the day of the move, when doors are left wide open and strangers are coming and going, consider dropping your pets off with a friend or leaving them at doggy day care. This is as much for your benefit as it is for your pets'.

Before you introduce a dog to your new home, create a space that is all their own. Choose a room and set up their bed, food, and toys. Cats will want to check out their entire "kingdom." Just be sure they know where their litter box, food, and water are.

Cesar Milan, known as The Dog Whisper, recommends that when traveling with your dog you do the following:

1.Prepare. Have a game plan ahead of time. Are you going to need food, water, or medication on the drive? When and how often will you take breaks?

2.Bring along a favorite blanket or toy. Dogs love their stuff. Blankets and toys can bring comfort to an otherwise stressful situation.

3.Don't feed your dog for 6 hours before a plane ride.

4.Use Lavender scents. This great scent can be calming to both you and the dog. Consider mixing a small spray bottle with water and a few drop of natural lavender essential oil.

5.Take a long walk. It's always good to stretch your legs!

6.Take breaks. This is especially true for long rides.
Falling back into routine quickly is a great way to comfort your pets. This is easier said than done after a big move, but at the very least, take walks and have meals at the usual time. Our pets are members of our families. By taking a few simple precautions, you can make your next move as seamless and possible.

Do you need more moving advice? Give us a call at 972.772.7000 or email us at frontdesk552@kw.com.

Monday, June 6, 2011

10 Questions to ask your next listing agent

Provided By Trulia

So you have decided to hire a listing agent to assist you in marketing your home. But who should you hire - your brother-in-law, your neighbor two doors down, or the lady who sends you a calendar in the mail every December?

Amazingly, according to the latest National Association of REALTORS® Profile of Home Buyers and Sellers, 67% of sellers interview only one agent before making the decision to list with an agent. But is that wise? No, probably not. Instead successful sellers often find it prudent to meet with multiple agents and treat each appointment as a job interview.

So what questions should you ask each interviewee? Let's take a look at 10 questions to ask your next listing agent:

How long have your been selling real estate and are you a full time agent?

Agents who have been in the real estate business for more than five years are likely to have double or even triple the income of newer licensees, but don't pull the trigger too quickly. Many new licensees represent the new breed of college educated, internet enabled, smart phone packing entrepreneurs who may be just the kind of aggressive agent you've been looking for in this challenging market.

How much real estate did you sell last year?

Past performance can often be an indicator of future results. It may be harsh but agents who are having a hard time selling homes may also be suffering through a cash crunch which can affect their ability to invest marketing dollars into promoting your listing. Although a word of caution - don't be too surprised if you find that even the top producers in your marketplace have had a tough last twelve months.

How many homes have you sold in my area?

A great way to find a listing agent is to identify agents who have sold homes in the last six to twelve months in your specific neighborhood. Agents that are consistently selling homes in your market area will have a better handle on how and why buyers prefer living in your community. The ability to market these positives can be a huge plus when trying to locate a buyer for your home.

What is your average market time vs. the market?
The average market time is a measurement of how long it takes the average home to sell - from the time it lands on the local multiple listing service to the day it closes escrow. Strong listing agents can often outperform the overall market by using innovate and aggressive marketing techniques that can help a home sell faster and for more money.

What is your list price to sales price ratio vs. the market?
If homes in your market area are selling for an average of 96% of their asking price, in real estate lingo this is often referred to as the list price to sales price ratio. Ideally strong listing agents will be able to "beat the street" by helping sellers price homes closer to real market value.

May I see a portfolio of other listings you have sold?

If you were going to hire a doctor to perform heart surgery you probably wouldn't hire a dentist, right? The same is true in real estate. Ideally you want to hire an agent who specializes in your specific type of home - waterfront homes, golf course properties, and condos for instance. These agents will be better equipped to provide specialized services that will give you better odds at creating success.

Do you provide a written report to sellers, and if so, how often?

Communication is vital in a constantly changing real estate market. An agent that provides updates, even automated updates, on marketing, website activity, buyer showings, or even the sound of crickets (if nothing is happening) is a huge asset. Be clear and up front about your expectations and, if possible, set aside a day of the week to check in with the agent.

May I see your resume or personal brochure?

Asking for a resume is a great way to learn in-depth information about your potential new partner in the sale of your home. It can also reveal details you might never have known - like their job history, educational background, and list of references. Don't be afraid to dig deeper by asking for permission to call previous clients for a testimonial.

Do you have a specific marketing plan in mind?

Aggressive agents have aggressive marketing plans that ensure that their listings are exposed to every potential buyer in the marketplace. By coming to a meeting of the minds about what the specific marketing plan will be for your home at the outset of the listing agreement, you will set the stage for a successful relationship.

Do you have internet strategy and how will you market my home online?

The vast majority of buyers today use the internet as an information resource when searching for their next home. Because of this you want an agent who has embraced an internet strategy as an integral part of their marketing plan. Ask to see their personal website, samples of virtual tours, web pages, and a list of portals where your home will be marketed.

Don't be too surprised if some agents aren't quite ready to answer all the questions you have prepared for them. To be fair you may wish to provide them a list of your specific questions in advance so they can come to the listing appointment ready to impress you. Also, to make the most unbiased choice, ask agents to leave their pricing suggestions at the door. This will eliminate the natural but incorrect tendency of hiring the person who tells you the highest price and focus the interview solely on each agent's individual strengths and weaknesses.

If you are ready to sell your home, call the professionals you can trust at 972.772.7000 or email us at frontdesk552@kw.com.

Friday, June 3, 2011

Creative Ways to Curb Spending

Provided By Realty Times

Now is a great time to buy. Homes are affordable and interest rates are at historical lows. Lending is tight, however. You need a stellar credit score and a clean credit report to even get your foot in the door.

And long gone are the days of zero-down down payments. You need money down to venture into the housing market. Some financial experts recommend at least a 20 percent downpayment.

Here are some creative ways to curb spending so you can save up for the house of your dreams.

The first rule of saving is to be patient. Large nest eggs are built up over time. We live in a society that thrives on instant gratification. This is partially responsible for the housing crisis we now find ourselves in. Buyers who should have waited until they could truly afford their dream house took advantage of a flawed system that allowed them to instantly gratify their desires. So, be patient. It may take months or years before you have saved enough.

The next key is to cut out unnecessary spending. It can be easy to give into our wants, or to confuse them with needs. For example, you need food to survive. What you don’t need is to go out to lunch or dinner multiple times a week. It may be time to change habits and learn to pack a lunch for work and to cook meals at home. The same goes for the morning coffee. A home brewed cup can be just as satisfying as a $4 cup from a coffee house. And you just might save yourself $500 a year.

Don’t use credit cards. Credit cards charge exorbitant interest rates. It can take decades to pay off balances when you only make minimum payments.

A great way to avoid overspending is to avoid going to stores. It sounds extreme, but if you go to a store, you’ll buy something. Find fun things to do at home, instead of using shopping as a hobby. Even $20 a week can add up to $1,000 a year.

Substitute spending is another tactic for saving. Let’s say, for example, that you have a gym membership charging $40 a month. That translates to $480 a year. You can buy a simple elliptical, recumbent bike, or treadmill for less than that. Add in a few workout DVD’s and weights and you have a home gym for a fraction of the cost.

Lastly, automatic savings transfers can help procrastinators save. You have to remember to transfer money to savings to build up your account! Most banks allow for automatic savings amounts to be set. You can choose what amount works best for you. $100 a month will translate to $1,200 a year!

With just a few of these scenarios we discussed today, our example saver could save at least $3,000 a year!

Stick to your plans and budget and the dream of homeownership can become a reality.

Do you need more ideas on how to sell your home? Give us a call at 972.772.7000 or email us at frontdesk552@kw.com.

Wednesday, June 1, 2011

Smart moves for home buyers

Provided By Trulia

Buying a home is a big step -- it's possible that it'll be the largest purchase you'll ever make. You want to get it right. Use these tips to guide you through the process:

Save for a down payment
Usually, the more money you can put down on a home, the better. That's because the more you borrow for a home, the more you'll pay in interest on your mortgage down the road. It's easier to qualify for a mortgage if you have a down payment. Having a down payment also may help you to qualify for a lower interest rate on a mortgage, and may make your mortgage payments lower -- and easier to make -- once you own a home.

Determine how much you can afford
Before you set out to buy your dream home, compute how much you can afford, keeping in mind your current expenses, how much it will cost to own and maintain the home and how your expenses may grow or change in the future. There's no sense spinning your wheels looking for that mansion when a more affordable condo is more your speed.

Weigh needs vs. wants
Sure, many of us want a home in the very best location with all the latest amenities in the latest style. But is that what you need? While it'd be great to find a place that fills all our needs and wants, often we have to sacrifice and buy a place that meets just some of our necessities and desires. So, think about what you must have (e.g., a reasonable commute to work), versus what you'd like but can do without -- say, a backyard with a pool and a hot tub. Doing so will make it much easier when it comes time to go house hunting.

Secure financing
Have a lender pre-approve you for a mortgage. Being pre-approved means that a lender has agreed to lend you a certain amount based on your credit rating and finances. Being pre-approved puts you in a better position to look for a home -- you know exactly what you can purchase, and when it comes time to bid on a home, you'll be in a better strategic position than a buyer who hasn't been pre-pproved.

Research
Use Trulia to investigate your local market and the homes you're considering. Knowing the strength of your real estate market (e.g., whether it's a buyer's or seller's market) and the history of a home (such as when it was purchased and for how much) will help you bid more intelligently on a home, and will give you an edge when negotiating with a seller.

Get an attorney
Buying a home is a complicated process -- so it's best to recruit the assistance of an expert. A real estate attorney will look out for your needs during the home-buying process, will read the fine print and will help explain anything you don't understand. Think of it as an insurance policy against running into troublesome real estate hassles after you've signed on the dotted line.

Inspect
Once you find that home you'd like to buy, get the property inspected by a qualified professional and make your purchase contingent on satisfactory inspection results. By doing so, you can find out if a home is in good condition, or be alerted to any serious (and costly) problems with the home. If you make your purchase of a home contingent on your satisfaction with the home's inspection reports, you have an out should those defects prove to be too expensive to fix.

Are you ready to buy your first home? Give us a call at 972.772.7000 or email us at frontdesk552@kw.com.