Great news!!!!

Congress passed legislation extending the Mortgage Debt Relief Act for homeowners who do a Short Sale through 2013. When a homeowner sells their home, the IRS won't treat the debt forgiven by the bank as income, which means they won't owe taxes on that amount, therefore allowed a seller to short sale their home without immense tax consequences.

Now is the Time!

Now is the time to list your house for sale! The inventory is extremely low. Homes are getting 10+ offers and most are going well over asking price. Contact me today for a Market Value Analyses of your home! This could be your time to MOVE!!!

Looking for a NEW home?! I can help with that too. There are many great new communities. I have access to floor plans and can educate you on what's out there.

Kerri Anne Kuipers
925.382.6722
Kerri@Interodb.com
RE#1371935

Your Savings and Down Payment

 

Your First Step Toward Buying a Home

When preparing to buy a home, the first thing many homebuyers do is look at the real estate ads in newspapers, magazines and listings on the Internet. Some potential buyers read how-to articles like this one. The next thing you should do - before you call on an ad, before you talk to a Realtor, before you shop for interest rates - is look at your savings.

Why?

Because determining how much money you have available for down payment and closing costs affects almost every aspect of buying a home - including how you write your purchase offer, the loan programs you qualify for, and shopping for interest rates.

Mortgage Programs

If you only have enough available for a minimum down payment, your choices of loan program will be limited to only a few types of mortgages. If someone is giving you a gift for all or part of the down payment, your options are also limited. If you have enough for the down payment, but need the lender or seller to cover all or part of your closing costs, this further limits your options. If you borrow all or a portion of the down payment from your 401K or retirement plan, different loan programs have different rules on how you qualify.

Of course, if you have enough for a large down payment, then you have lots of choices.

Your loan choices include such varied programs as conventional fixed rate loans, adjustable rate mortgages, buydowns, VA, FHA, graduated payment mortgages and all the varieties of each.

Shopping for Rates

A very important reason you need to have at least some idea of your down payment is for shopping for interest rates. Some loan programs charge a slightly higher interest rate for minimal down payments. Plus, the interest rates for different loan programs are not the same. For example, conventional, VA, and FHA all offer fixed rate loans. However, the rates vary from one program to another.

If you shop lenders by phone, the loan officer will be able to tell you which programs fit and quote your rates accordingly. However, if you are shopping on the Internet, you have to develop some idea of your loan program on your own.

Writing Your Offer

Another reason you need to have a clue about your down payment is because it affects how you write your offer to purchase a home. Not only are you required to put your down payment information in the offer, but also different loan programs have different rules that also affect how you write your offer. This is especially important when dealing with FHA and VA loans.

If you are asking the seller to pay all or part of your closing costs, you have to be certain your loan program allows what you are asking. For smaller down payments, lenders allow the seller to pay less closing costs than for larger down payments. Some loan programs will allow a seller to pay certain types of costs, but not others.

Finally, your down payment also affects your ability to qualify for a loan. When you make a small down payment, lenders are fairly strict about having you conform to their underwriting guidelines. For larger down payments, they will tend to make allowances or exceptions to the rules.

Conclusion

As you can see, the down payment affects every choice you make when you buy a home. Although you should look at ads, familiarize yourself with neighborhoods, learn about prices, and read as much as you can - when you get ready to take action - the first thing you should do is figure out how much money you have available for the purchase.

Spread Some Cheer!!

Bake Christmas cookies for friends, neighbors and spread some cheer!

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We all love cookies! Cookies are a simple and sweet way to make people smile. Take some time this season to bake Christmas cookies for friends, family, and neighbors - and ask the kids to help! Deliver and see your friends smile with cheer. You could even pick close friends or family to sing Christmas songs to while you deliver. It would be fun for the whole family!

How to Plan the Perfect Holiday Party

How to Plan the Perfect Holiday Party

 

If you have not begun planning your holiday party yet, it’s possible to put together a great event in a short amount of time.

 

Set the mood.

Tried and true holiday decorations, such as lights, evergreen wreaths and poinsettias, are sure to get your guests in the spirit of the season. Additionally, soft lighting and familiar seasonal scents, such as vanilla, cinnamon or pine, encourage a homelike atmosphere that will put everyone at ease. Place candles or essential oils around your home, and if you have a fireplace, be sure to light it.

 

Plan and prepare the food and beverages.

 

Food is arguably the most important part of your party. If you’re hosting a large feast, do your shopping and prep work ahead of time. Any dishes that can be prepared and frozen a week or two in advance will help you save time on the day of the big event.

 

For smaller parties, choose an assortment of finger foods and snacks such as sandwiches, cheese and fruit plates, veggies and dip, bruschetta, etc. to limit the number of utensils your guests need.

 

A signature drink will make your party memorable. For adult parties, choose a festive cocktail that incorporates the flavors and colors of the season, and make a non-alcoholic version too. If children are invited, offer your own twist on favorites such as hot cocoa and cider.

 

*Greet every guest with a sweet treat or your party’s signature cocktail or drink.

 

*Place food and beverages on tables throughout the room to help ensure that everyone gets to sample the tasty dishes.

 

Passion Into Profits

Turn Your Passion Into Profits

Your personal passions can fuel your prospecting efforts, and consequently, your real estate business.

August 2011 | By Kelle Sparta

 

When I talk to real estate professionals these days, a subject that comes up often is how to get more business. Whether it’s new practitioners just getting started or experienced ones looking to take their business to the next level, it’s all about the number of deals on the table and how to make more money. And that’s the way it should be, since several real estate pros are earning what amounts to minimum wage, if that. (Don’t believe me? Ask the associates in your office to take their total income for the year divided by the number of weeks worked and then divided by the number of hours worked per week, and see what they end up with. It’s often a sobering number.)
Related to this lack of business and desire to have more is the fact that many practitioners hate to prospect. But more prospecting, done right, equals more business. And I have a little secret that will help you get excited about prospecting.

What Are You Passionate About?

People won’t do what they hate. That’s just a fact of life. Sure, they may do it for a while — during a coaching program or while they are on a “kick” to do more deals. But in the long haul, the activities that they don’t like get pushed to the side.
The key is to understand your own internal motivation buttons. What gets you excited? What makes you get out of bed in the morning, raring to go for the day? What are those things which, if you never had to work again for the rest of your life, you’d still do daily? These are your passion points.

Turn Your Passion Into Business

My passion was helping people take a step into a new way of life, so real estate was a natural fit. Excepting investors, people typically don’t buy or sell real estate without having some major life change take place. So for me, it was easy. But for some people, it’s a little more challenging. Perhaps you love model airplanes, or you’re fascinated by sailing, or you love negotiating, or you live for designing marketing pieces. Whatever your passion is, find a way to build that into your real estate business. We’re lucky to be in one of the most flexible, broad-reaching fields in the world. It’s simply a matter of finding the right marriage between the profession and your interests.

Translating Your Passion

At this point, you might be thinking, “Well, this is great, but how do I translate my love of model airplanes (or whatever your passion is) into my real estate business? They have nothing to do with one another, and there are only so many model plane enthusiasts I can sell to.” This is true, but you’re missing the bigger picture.
There’s something about model airplanes that appeals to you besides the planes themselves. Perhaps it’s the attention to detail it takes to make one look really right, or having a slice of history sitting on your shelf, or the creative process of making something and painting it. Or perhaps it’s just having something you can look at and have a sense of accomplishment. There is something about the process that engages you.
When you discover this aspect of your passion, then you can begin to work with it. If it’s the history that appeals to you, consider specializing in historic homes — do the research and provide a detailed portfolio on each of your homes. If it’s the attention to detail, then bring that passion to how you handle your transactions and advertise this fact. If it’s the creative process, then work with fixer-uppers and draw out plans for how people might approach renovating it — or do the fix-and-flips yourself. If it’s having a sense of accomplishment, then feed that need to have something to look at by taking a picture of all of your clients at the closing table and putting those pictures up in your office.

Know Thyself

The key here is to know yourself. Everyone has things that bring them up and things that bring them down. If you focus on the stuff that brings you down, you’ll be unhappy. If you engage the stuff that brings you up, you’ll not only be happier, you’ll get more business because you’ll really be doing what you love.
So make sure that what you’re engaging is the parts of your life and business that truly get you excited. When you’re excited, it’s contagious and everyone wants to be near you. And, when you’re excited, it’s not prospecting anymore — it’s sharing your excitement!

Passion Makes Perfect

When you can marry your passion to your business, you’ll find that the prospecting comes easier, the sales happen automatically, and your bottom line improves dramatically. Why? Because you’re now doing joyfully what you once considered drudgery.

What You Can Do to Improve Your Credit

Credit scores, along with your overall income and debt, are big factors in determining whether you’ll qualify for a loan and what your loan terms will be. So, keep your credit score high by doing the following:

1. Check for and correct any errors in your credit report. Mistakes happen, and you could be paying for someone else’s poor financial management.
2. Pay down credit card bills. If possible, pay off the entire balance every month. Transferring credit card debt from one card to another could lower your score.
3. Don’t charge your credit cards to the maximum limit.
4. Wait 12 months after credit difficulties to apply for a mortgage. You’re penalized less for problems after a year.
5. Don’t order items for your new home on credit — such as appliances and furniture — until after the loan is approved. The amounts will add to your debt.
6. Don’t open new credit card accounts before applying for a mortgage. Too much available credit can lower your score.
7. Shop for mortgage rates all at once. Too many credit applications can lower your score, but multiple inquiries from the same type of lender are counted as one inquiry if submitted over a short period of time.
8. Avoid finance companies. Even if you pay the loan on time, the interest is high and it will probably be considered a sign of poor credit management.

This information is copyrighted by the Fannie Mae Foundation and is used with permission of the Fannie Mae Foundation.