It's tax time, but it doesn't have to be excruciating, especially if you bought, sold or owned a home in 2009.
While so many of us think of tax time as time to write a check, the Obama Administration's stimulus package promised to reverse that tradition, effectively writing a check (in tax credit format) to buyers, sellers and even short sellers and those who lost a home through foreclosure.
CLICK HERE for a quick list of tax tips to your personal tax guru and cash in your check from Uncle Sam!
I am SO EXCITED that Summer is right around the corner. We had a beautiful inground pool installed last fall, so this will be our first season to get out there and really enjoy our backyard! I've been researching a ton of stuff about pools - and found this one article about opening your pool by yourself. I thought I would share. ENJOY and Swim Safetly :D
CLICK HERE to read the article How to Open Your Swimming Pool
Check out my new website at www.GinaStango.com
For all of your Real Estate Buying, Selling, Relocation, Investment and Searching needs in Montgomery, Berks, Bucks and Chester County. Search for homes in Gilbertsville, Collegeville, Limerick, Pottstown, Red Hill, Douglassville, Boyertown and the surrounding areas. School Districts: Boyertown Area, Perkiomenville, Pottstown and Springford.
Last night I was folding laundry and all of a sudden heard a bunch of sparking and smelt smoke coming from our fish tank. Luckily the breaker jumped shortly after to contain any possible electrical fire, but for a split second I wasn't sure what to do. Attached is an article from eHow on what to do if this or something similar should happen to you.
Contributor By an eHow Contributing Writer Article Rating: Many people think they are prepared for a fire, but there are different kinds of fires and not all of them can be treated the same way. Just because you have a fire extinguisher in your home, doesn't mean you can use it to combat any fire. Electrical fires are one type of fire that must be attacked in a precise way in order to put out the flames quickly and safely. CLICK HERE to read more.
The pace of single-family home production remained virtually unchanged in February 2010, with a 0.6% decline to a seasonally adjusted annual rate of 499,000 units, according to figures recently released by the U.S. Commerce Department. Meanwhile, a large decline on the more volatile multifamily side brought the overall number of housing starts down 5.9% to a seasonally adjusted annual rate of 575,000 units. CLICK HERE to continue article.
Now, real estate goes where you go! With ZipRealty's Android app you can get current information on homes for sale right around you, or for homes on the other side of the country.
ZipRealty's Android app allows you to:
Exclusively designed for the Android. Try it for free. You'll love it.
Download ZipRealty's app for free from the Android Marketplace on your phone. And don't forget to rate us!
Here's How:
1. Find a home that you're interested in visiting.
2. Click the "Request a Showing" button.
3. Fill out days and times that will work best for you to visit the property, and I will follow up shortly.
4. Visit the property and you'll be automatically entered to win $5,000!
Why ZipRealty?
You'll be working with a professional, responsive and reliable ZipAgent who is dedicated to helping you find your ideal home.
Over 77,000 people have worked with us to buy or sell their home.
We've sold over 10 billion in home sales revenues.
Our client satisfaction rating is 96%!
About us: We're a full service residential real estate brokerage that is focused on you, our client, and how we can best serve your needs during the process of buying or selling a home. That's why we designed a website that has comprehensive search tools, up-to-date property information, and valuable tips - all available at your fingertips 24/7. When you're ready to start seeing homes in person, I will arrange viewing at the earliest possible date, provide you with expert advice along the way, and work with the seller's agent to close the deal once you find your ideal home.
Is now the time to invest in housing? ZIPRealty's CEO Pat Lashinsky speaks about housing and cash buyers. CLICK HERE to view the video.
Wondering what your house is worth in today's market? Get 3 Home Estimates for FREE Instantly! Just CLICK HERE
Stop by for my Open Hosue TODAY from 1:00- 3:00 at 724 E. 2nd Street in Birdsboro.
For more information about this listing, please CLICK HERE.
The number one rule in hiring any service professional: Get references. Word of mouth from friends and neighbors is the best way to find a good worker who'll deliver great results. You can also search user reviews on Websites like servicemagic.com (free to use, because prescreened member contractors pay to belong) or angieslist.com (subscription-based, but with no sponsor companies).
Ask anyone you hire about minimum charges, and what might cause the price to go up from the quote. Inquire about insurance (in case of injury, or damage to your or others' property), and about professional affiliations and accreditation. Read contracts carefully. Here, some specifics to ask a prospective...
Plumber
Electrician
Exterminator
Housepainter
Roofer
- By Amy Roberts, Good Housekeeping
OPEN HOUSE
Sunday Mar 14th
1:00 - 3:00
Be prepared to fall in love with this Charming Cozy Cape with hardwood floors throughout. From the moment you enter, the quality makes it apparent that this home is special. Relax by the fire in the comfortable, spacious living room. The entire home has just been repainted. The unique built-in shelves and alcove are so quaint. The upstairs master bedroom is actually two rooms that flow together, make it a sitting room, or 2 separate bedrooms. This floor plan is NOT your typical cape. Enjoy a romantic dinner in the adorable dining room. Leave through the private side door and you ll find outside this exceptional home is a very large yard with a great driveway and charming slates.
This well maintained,… Show more lovely home even has central air. It is very conveniently located near Route 724 and 422. 1 Year AHS home warranty provided by the seller. Come see for yourself and be prepared to want to stay.
Here's How:
1. Find a home that you're interested in visiting.
2. Click the "Request a Showing" button.
3. Fill out days and times that will work best for you to visit the property, and I will follow up shortly.
4. Visit the property and you'll be automatically entered to win $5,000!
The jobless may not be getting much help from President Obama's loan modification program, but those in Pennsylvania have another place to turn. The Pennsylvania Housing Finance Agency offers the jobless and those suffering financial hardship loans of up to $60,000 for as long as three years to cover their monthly payments or take care of their arrears.
Created in 1983, the program boasts an 80% success rate in preventing foreclosures. "If you allow people some time to find a job, they can keep their home, which saves their family, their neighborhood and their communities," said Brian Hudson, the agency's executive director. The emergency mortgage assistance program, which is funded by the state and borrowers' repayments, has come into the spotlight in recent weeks as the president searches for a way to help the unemployed stay in their homes.
The administration late last month announced a $1.5 billion initiative that gives money to the states hardest hit by the mortgage crisis: Arizona, California, Florida, Michigan and Nevada. The effort calls for the states' housing authorities to assist the jobless and those who are underwater -- meaning they owe far more than their homes are worth. Already, officials in Nevada, California and Florida have been in touch with Hudson to learn how to replicate Pennsylvania's program, which has distributed $450 million on behalf of 43,000 homeowners since inception. Similar efforts also exist in Delaware, North Carolina and Massachusetts.
Here's how the Pennsylvania program works: Housing counselors send the agency applications of those suffering temporary hardships beyond their control, Hudson said. Those approved could have their arrears wiped out, their monthly mortgage obligation covered, or both. Hudson attributes the program's success to a careful inspection of applicants' financial backgrounds, which are reviewed annually. Those who've racked up credit cards debts are not likely to gain approval, for instance. Those likely to land a job within a few months or years are. "You must have a reasonable prospect of resuming full payments within 36 months and of paying the mortgage in full," Hudson said. Loan payments are made directly to the servicers and a lien is placed on the property. The aid is repaid at a 5.25% interest rate over 10 years on average, though the borrower's financial circumstances are taken into account.
For Erin and Robert Smith, the loan program helped them keep a roof over the heads of their three children. The Harrisburg, Pa. couple had no problem handling the $2,000 monthly payment on their home ... until they lost their jobs in 2008. Their loan servicer refused to help them, instead sending them a foreclosure notice. But the Pennsylvania agency stepped in, giving them a $30,000 loan to cover their arrears and real estate taxes. "All we needed was a break," said Erin Smith, 33. "We knew once we found employment, we could start making those payments."
The Smiths are among the 3,250 homeowners that the housing agency's mortgage assistance program saved from foreclosure last year. A record 14,000 homeowners applied for help in 2009, up from 10,000 in most years. "Not too many mortgage companies say we'll only take a small payment until you get back on your feet," said Linda Harvan, a foreclosure intervention counselor with Action Housing in Pittsburgh. Such loan programs are not that easy to administer, however.
Fannie Mae unveiled a similar program, HomeSaver Advance, in 2008 to help those suffering temporary financial hardships. It provided unsecured loans of up to $15,000 that borrowers could use to clear their arrears. But the program was effectively discontinued within a year after redefault rates soared to nearly 70%.
By August 2009, HomeSaver Advance accounted for only 3% of Fannie Mae's foreclosure prevention actions, down from 42% a year earlier. Awilda Mercado is thankful that the emergency loan program in Pennsylvania continues to serve the state's residents. In 2008 she lost her factory position and her husband had an on-the-job accident that left him unable to work. To help her stay in her York, Penn., home, the agency took care of her arrears of $7,386 and paid four months of her mortgage. 0:00 /3:58The challenges facing job growth Now that she's receiving unemployment and her husband is on disability, the Mercados have been able to resume their mortgage payments. They also are reimbursing the housing agency, often sending in more than the $25 minimum payment. "They helped me not only save my home, but got me back on my feet," said Mercado, 52, who has three grown children.
By Tami Luhby, CNNMoney.com
If you're looking to improve your home on the cheap, consider using salvaged building materials. Besides being less expensive than new materials, secondhand features can add character, quality, and value to your home. But note that the savings in dollars may require a greater investment in time and effort.
Remodeling with secondhand building materials has many fans. Some are owners of historic houses who improve their homes by adding period elements. Others follow green building practices and appreciate conserving resources and keeping materials out of landfills. And still others are looking for quirky elements that will break their homes out of cookie-cutter molds.
Recycled building materials are getting easier to find According to the Building Materials Reuse Association, recycling is becoming more common in the construction industry. That means reclaimed building elements like doors, windows, plumbing fixtures, and wood flooring are increasingly easy to find.
Habitat for Humanity’s nationwide chain of ReStores sells recycled items, and many cities have architectural salvage yards. Online, neighbors advertise unwanted items on community bulletin boards, such as Craigslist, and national directories of recycled materials, such as EcoBusinessLinks, can be great sources for hard-to-find elements. And the price is right: reused pieces can be 50% to 75% cheaper than their new counterparts.
Searching for salvaged materials Sounds terrific, right? But it’s not that simple. Using recycled building elements is like shopping at a thrift store: You can’t be certain you’ll find exactly what you’re looking for. Anyone interested in a good deal to spruce up their home—an ornate wood mantelpiece or a set of Victorian doors, for example—has to be willing to compromise on some of the details and commit some time to the endeavor. If you live in or near a city and have access to a salvage yard, you’re in luck. Many receive multiple new shipments daily, and some, such as Seattle’s Second Use, post their offerings online. But in most cases, there’s no substitute for regularly showing up in person to check out what’s available.
If you’ve got something particular in mind, plan on spending a few afternoons at the salvage yard trying to track down what you’re looking for. The same is true if you’re exploring online: locating the right piece may take longer than you’d expected.
Before beginning your search, make sure you’ve got measurements in hand. It’s useful if you can allow for some wiggle room: unlike big home improvement stores, the items on sale are usually one-of-a-kind pieces. So while a recent truckload might have dropped off a beautiful old mantelpiece, the size might not be an exact fit; know in advance if you can manage with a slightly larger or smaller size.
Some old items need to be treated with serious care. Ruthie Mundell of Community Forklift, a salvage yard in Edmonston, Md., says that the staff tries to flag items that appear to be lead paint hazards—that is, anything painted prior to 1978, when the Consumer Product Safety Commission (CPSC) banned lead in paints. Nevertheless, buyers of old painted items need to be aware of the potential hazards. Older paint doesn’t mean the pieces are unusable, but the paint must be thoroughly removed or sealed—never scraped or sanded. The CPSC offers guidelines for treating lead paint in the household.
Finding savings Some salvaged pieces are better deals than others. The best is often flooring: careful shoppers can find used floor boards from quality old wood that’s difficult to come by these days. Sat Jiwan Ikle-Khalsa, a green living consultant in Takoma Park, Md., scoured a local salvage yard and found maple, white oak, and rare heart pine flooring at a low price for his renovated 1940s-era home. He estimates he saved more than $2,000 over the cost of new flooring.
Other useful finds are doors, particularly those already on a frame, and plumbing elements. Antique light fixtures can be a great bargain, but check whether they’ve been recently rewired before you buy; otherwise, you may have to do it yourself, or pay an electrician for the service.
Windows are common, but many older widows are single-pane and not energy efficient. These are better used for interior walls to add light and air flow between rooms.
Stained glass panels are relatively common at salvage yards and cost from $50 to $500. Sample price comparisons for various salvaged materials Salvaged oak flooring: $1 to $3 per sq. ft. New oak flooring: $4 to $10 per sq. ft. Average savings for 12x16-foot room: $960 Salvaged interior solid panel door (basic): $20 to $50 New interior panel door: $200 to $400 Average savings: $265 Secondhand pedestal sink: $20 to $250 New pedestal sink: $100 to $800 Average savings: $315 Recycled crown molding: $.30 to $1 per lineal ft. New crown molding: $.90 to $3 per lineal ft. Average savings for 12x16-foot room: $72.80 Don’t forget to add in transportation costs. Not all salvage yards deliver, and those that do aren’t necessarily cheap: the cost of getting materials across town could be $100 or more. It might make more sense to borrow or rent a truck on your own.
The value of salvage building components Salvaged elements may not add to a home’s appraised value, according to Chicago appraiser Tim McCarthy, president of T.J. McCarthy and Associates. An appraiser probably won’t include a home’s reclaimed heart pine beams in the kitchen or the bathroom’s antique plumbing fixtures when calculating the house’s value. But that doesn’t mean the seller can’t use those amenities as selling points and boost the asking price accordingly. “It’s very market-specific,” McCarthy says. In higher-end neighborhoods, homebuyers may be willing to pay more for authentic elements that give a house personality. McCarthy recommends talking with a local realtor before making changes; they’ll have a good sense of the housing market’s current demands and should be able to tell you whether a vintage element will boost your home’s market value.
To effectively integrate salvaged items, Arne Mortensen, owner of Mortensen Design/Build in Seattle, recommends choosing a contractor who has a particular interest and experience in working with recycled building materials. Salvage yard staffs may be able to recommend someone; other sources for ‘green’ contractors include online sites like Angie’s List. Nonetheless, the time-consuming legwork of finding good pieces generally falls to the homeowner.
To make the process easier, spend time thinking about and researching online what you want before you begin to shop. And be prepared to be persistent; happy hunting takes patience.
By: Amanda Abrams, House Logic
In an effort to end the foreclosure crisis, the Obama administration has been trying to keep defaulting owners in their homes. Now it will take a new approach: paying some of them to leave. This latest program, which will allow owners to sell for less than they owe and will give them a little cash to speed them on their way, is one of the administration’s most aggressive attempts to grapple with a problem that has defied solutions.
More than five million households are behind on their mortgages and risk foreclosure. The government’s $75 billion mortgage modification plan has helped only a small slice of them. Consumer advocates, economists and even some banking industry representatives say much more needs to be done.
For the administration, there is also the concern that millions of foreclosures could delay or even reverse the economy’s tentative recovery — the last thing it wants in an election year. Taking effect on April 5, the program could encourage hundreds of thousands of delinquent borrowers who have not been rescued by the loan modification program to shed their houses through a process known as a short sale, in which property is sold for less than the balance of the mortgage. Lenders will be compelled to accept that arrangement, forgiving the difference between the market price of the property and what they are owed. “We want to streamline and standardize the short sale process to make it much easier on the borrower and much easier on the lender,” said Seth Wheeler, a Treasury senior adviser.
One owner's case The problem is highlighted by a routine case in Phoenix. Chris Paul, a real estate agent, has a house he is trying to sell on behalf of its owner, who owes $150,000. Mr. Paul has an offer for $48,000, but the bank holding the mortgage says it wants at least $90,000. The frustrated owner is now contemplating foreclosure. To bring the various parties to the table — the homeowner, the lender that services the loan, the investor that owns the loan, the bank that owns the second mortgage on the property — the government intends to spread its cash around. Under the new program, the servicing bank, as with all modifications, will get $1,000. Another $1,000 can go toward a second loan, if there is one. And for the first time the government would give money to the distressed homeowners themselves. They will get $1,500 in “relocation assistance.” Should the incentives prove successful, the short sales program could have multiple benefits.
For the investment pools that own many home loans, there is the prospect of getting more money with a sale than with a foreclosure. For the borrowers, there is the likelihood of suffering less damage to credit ratings. And as part of the transaction, they will get the lender’s assurance that they will not later be sued for an unpaid mortgage balance. For communities, the plan will mean fewer empty foreclosed houses waiting to be sold by banks.
By some estimates, as many as half of all foreclosed properties are ransacked by either the former owners or vandals, which depresses the value of the property further and pulls down the value of neighboring homes. ‘Tailor-made for fraud’ If short sales are about to have their moment, it has been a long time coming. At the beginning of the foreclosure crisis, lenders shunned short sales. They were not equipped to deal with the labor-intensive process and were suspicious of it. The lenders’ thinking, said the economist Thomas Lawler, went like this: “I lend someone $200,000 to buy a house. Then he says, ‘Look, I have someone willing to pay $150,000 for it; otherwise I think I’m going to default.’ Do I really believe the borrower can’t pay it back? And is $150,000 a reasonable offer for the property?”
Short sales are “tailor-made for fraud,” said Mr. Lawler, a former executive at the mortgage finance company Fannie Mae. Last year, short sales started to increase, although they remain relatively uncommon. Fannie Mae said preforeclosure deals on loans in its portfolio more than tripled in 2009, to 36,968. But real estate agents say many lenders still seem to disapprove of short sales. Under the new federal program, a lender will use real estate agents to determine the value of a home and thus the minimum to accept. This figure will not be shared with the owner, but if an offer comes in that is equal to or higher than this amount, the lender must take it. ‘In a perfect world ...’ Mr. Paul, the Phoenix agent, was skeptical. “In a perfect world, this would work,” he said. “But because estimates of value are inherently subjective, it won’t. The banks don’t want to sell at a discount.”
There are myriad other potential conflicts over short sales that may not be solved by the program, which was announced on Nov. 30 but whose details are still being fine-tuned. Many would-be short sellers have second and even third mortgages on their houses. Banks that own these loans are in a position to block any sale unless they get a piece of the deal. “You have one loan, it’s no sweat to get a short sale,” said Howard Chase, a Miami Beach agent who says he does around 20 short sales a month. “But the second mortgage often is the obstacle.”
Major lenders seem to be taking a cautious approach to the new initiative. In many cases, big banks do not actually own the mortgages; they simply administer them and collect payments. J. K. Huey, a Wells Fargo vice president, said a short sale, like a loan modification, would have to meet the requirements of the investor who owns the loan. “This is not an opportunity for the customer to just walk away,” Ms. Huey said. “If someone doesn’t come to us saying, ‘I’ve done everything I can, I used all my savings, I borrowed money and, by the way, I’m losing my job and moving to another city, and have all the documentation,’ we’re not going to do a short sale.” But even if lenders want to treat short sales as a last resort for desperate borrowers, in reality the standards seem to be looser.
Copyright © 2010 The New York Times
You can now do a Local Home Search by Neighborhood Name with ZipRealty! Download the software for FREE CLICK HERE!
This feature gives ZipRealty’s clients even more map information to better understand the neighborhoods in which they are shopping. “Our clients have told us that searching and comparing properties by neighborhood is essential to purchasing a home,” said Myron Lo, VP of Innovation at ZipRealty. “After researching various providers, Maponics showed that they provided the best data and solutions to fit our needs.” The integration of Maponics Neighborhood BoundariesTM data will allow ZipRealty clients to search by locally-known neighborhood names, resulting in better search results.
“ZipRealty is the first national real estate brokerage to recognize the importance of mapping in the online real estate space,” says Mark Friend, Maponics VP of sales and marketing. “We are proud to provide the neighborhood boundary data that will form the backbone for their incredibly useful local real estate guides, heat maps and sales comparison information.”
What a FAB-U-LOUS Day! I'd LOVE to SPRING around town to help you find your Dream Home! Not going to be sitting infront of a computer for long... contact me at 1-800-CALL ZIP ext. 3405
What a FAB-U-LOUS Weekend we have ahead of us! I'd LOVE to SPRING around town to help you find your Dream Home!
To search for homes, see what your home is worth, check your credit score, figure out closing costs, get driving directions, recieve e-mail notifications or get pre-approved - visit my website today at www.GinaStango.com PLUS get 20% of commission back to buy new furniture or decor for your home!
By now most people are aware of the importance of their credit score and the huge financial costs and hassles that a bad score can cause. However, there're still many misconceptions regarding credit scores. We spoke to one of the premier credit reporting services, GoFreeCredit.com about the most common mistaken beliefs that people have:
Checking my credit score can hurt my score
You may have heard that the very act of checking a credit score can have a negative impact on your score. Its true - completing a credit application can actually reduce your score by 10 points each time. However, using a service such as GoFreeCredit allows you to access your credit ratings without affecting your score.
I checked my score and everything looked good - so I am fine
You actually have three scores because there are actually three credit tracking agencies; Experian, Equifax and Transunion. It's possible that you have a different score with each, as any one of them may have received incorrect or detrimental information about you. You should always check all three of your credit scores as you never know which one your bank or credit card company will use. Reputable services like GoFreeCredit.com will always check all three of your credit scores for you.
If I am a victim of ID theft, I will be notified by my bank or Credit Card Company
Unfortunately many victims of identity theft discover far too late that they are victims. If a criminal uses your identity to take out a loan you may only find out when the creditor contacts you looking for re-payment. However, regular monitoring of all your credit scores is a great way to immediately spot when someone is attempting to illegally use your identity so that you have a chance to stop the crime takes place.
My credit card company can't cancel my card without warning
Unfortunately they can and increasing they do. More and more credit card companies are tightening their risk profiles and eliminating customers that deem too risky. They often mail out a cancellation notice at the same time as they pull the card, leaving many consumers embarrassed to discover what has happened when they try to use the card at the register. Ensuring that any negatives on your account are corrected or removed will ensure this does not happen to you.
Checking and managing my credit ratings is a hassle
The good news is there is a quick and easy way to view your official credit report and credit score online instantly. Start by visiting GoFreeCredit.com. The site not only lets you see your free credit report and credit score, but also offers a free 3 bureau credit monitoring trial. The service helps you keep an eye on your credit and protect against identity theft with instant alerts of any changes to your credit report or score. So you can just sit back and let them do the work.
This article sponsored by GoFreeCredit.com Copyright Howlifeworks.com 2010
Real estate investors and house flippers all over the United States are celebrating: HUD has suspended its anti-flipping 90-day seasoning rule for a year. This means you can buy a HUD-owned home and flip it immediately to an FHA insured buyer—no need to hang on to the property (and a mortgage) for three full months, or turn FHA-insured buyers away. This is huge news for those who want to make some money in the housing market this year.
Individuals and real estate investing LLCs are now allowed to move homes through the books much faster. It's not a free-for-all, though, because some rules must still be followed:
• There must be no “identity of interest” between the seller and the buyer. This simply means that the transaction must be arm's length and above board.
• The seller must actually hold title to the property. This means that the seller must acquire the property completely and have the title transferred into his or her name or company name before selling it to an FHA insured buyer.
• LLC and corporate buyers must be legally established with state governments and operating under all state and Federal laws.
• The property must not have been flipped within the last 12 months. Multiple title transfers could raise a red flag for HUD.
• The property must be marketed openly through a real estate agent, an MLS listing, via public auction, or by the owner. In other words, no under the table deals.
• The new buyer's price cannot be more than 20 percent above the seller's purchase price. This cap protects potential homeowners from predatory practices. However, there is an important caveat: If the seller significantly improves the property and an appraiser agrees, the profit can be more than 20 percent.
Whether you buy and flip one property or a dozen this year, your market of potential buyers has just grown exponentially. Take advantage of the rule change before time expires in 2011. Find out more about this significant rule change by visiting the HUD website at hud.gov, or read the rule change at www.hud.gov/offices/hsg/sfh/waivpropflip2010.pdf.
Hot off the Presses... Check out my March Newsletter filled with information on Anti-Flipping Rules, Investing in Kitchen and Bathrooms to Sell Your Home, and Home Improvements - Should you do it yourself? Click HERE to access these articles. For more information about Buying or Selling your Home in Boyertown, Collegeville, Gilbertsville, Limerick or Pottstown - Please contact Gina Stango at ZIP Realty at 1-800-CALL ZIP ext. 3405 or gina.stango@ziprealty.com
Happy Monday! :D
