“Many buyers who waited for rock-bottom prices know that now is the time to buy“.  -US. New and World Report

“It is important for America to realize that when it comes to housing, now is a time to buy.”   -JP Morgan

“Now could be the best time in history to buy a home.”    -Market Watch

“It’s an excellent time to buy a house, either to live in for the long term or for investment income.” - Wall Street Journal

CONTACT ME TODAY, SO YOU CAN FIND YOUR SPECIAL PLACE IN SOUTHWEST FLORIDA PARADISE!!!!

Advice from the Wall Street Journel and Forbes

This article seems just too important not to pass on to everyone!

We believe very strongly that now is the time to buy a home. Some will say we are just saying this to create real estate transactions and commissions. Because of that, today we will quote what those outside the real estate profession are saying to the people who look to them for financial advice.

The Wall Street Journal

Last week, in an article entitled It’s Time to Buy That House, the WSJ told their subscribers:

“It’s an excellent time to buy a house, either to live in for the long term or for investment income…Houses aren’t the magic wealth creators they were made out to be during the bubble. But when prices are low, loans are cheap and plump investment yields are scarce, buyers should jump.”

In an article two weeks ago, MarketWatch.com (the on-line blog for WSJ) told their readers:

“Now could be the best time in history to buy a home.”

Forbes.com

In a report to their subscribers, Capital Economics reported that:

“The previous declines in house prices and the more recent drop in mortgage rates to record lows have created an unusual situation in which the median monthly mortgage payment is more or less the same as the median rental payment.”

Why is this important? Last week, Forbes explained to their readers:

“If rents simply kept up with inflation at a 3.2% annual increase, a $1,500 rent payment would cost that renter nearly $900,000 over the next 30 years. The same $1,500 payment made to their mortgage would be only $540,000 (because the payments don’t increase with inflation).”

They went on to explain the advantages of homeownership during retirement:

“Even with a dismal 1% growth rate over 30 years, a $300,000 property would appreciate well over $100,000 giving the homeowner an additional nest egg for retirement…

At a time when retirement is becoming much more challenging, an extra $400,000 (or likely more) can make a major difference not to mention the impact of NOT having to pay a mortgage.  How much less would you have to save for retirement if you didn’t pay the mortgage?”

Bottom Line

When the iconic financial newspaper and the iconic financial magazine say that it now makes financial sense to purchase a house, perhaps it’s time to buy a home.

CALL ME TODAY AND LET’S FIND THAT PERFECT HOUSE IN PARADISE.

Myth #1: Paying your bills well before the due date will improve your credit scores more than paying closer to the due date.

This one suggests that you will earn more credit score points by paying your bills well in advance of your due dates instead of waiting until the last few days to send a check or pay online.  And while it is certainly a good habit, it’s not going to do anything for your credit scores.  In fact, credit scores have no clue when your lenders receive your payments.

Myth #2: Credit scores are based on how much debt you have, not on how well you handle money.

This is, of course, incorrect.  All credit-scoring systems, not just FICO, are what are referred to as “multivariate”, which means they consider a variety of information to calculate a score.  There is no one item that determines your credit scores.  In the FICO system, your indebtedness counts for 30 percent of the points in your score, which means 70 percent of your score points have nothing to do with your debt.  In the VantageScore system, your indebtedness counts for 32 percent of the points in your score, which means 68 percent of your score points have nothing to do with your debt.  Further, under both of those scoring systems your “payment history” accounts for between 28 percent and 35 percent.  Point being, how well you handle money is a key factor used to base your credit scores.

Myth #3: People who are debt-free do not have a credit score

This statement is absolutely incorrect.  You can have a credit report completely void of debt (of any kind) and still have a credit score.  In fact, you don’t even have to use credit in order to have a credit score.  All you have to have is at least one account on your credit report and you’re likely to have a score.  That account can have never had anything but a $0 balance and, yes; you can still have a credit score.

Myth #4: Credit scores are used by employers for pre-employment screening

The truth is that most employers do not use credit scores.  The problem is the terms “credit score” and “credit report” are used interchangeably as if they’re the same thing when, in fact, they’re drastically different.  A credit report is the data.  The score is the grading of that data and not a permanent part of the credit report. Credit REPORTS can, in fact, be used for employment screening in most states (with a permission form).  Even then, it’s not the same credit report that your lenders have access to and it’s not the same as the credit reports that you could order. The credit reports used by employers are a special variation of the credit reports sold by the credit bureau.  To review your credit score, take advantage of a free credit report at www.annualcreditreport.com.

Identity thieves are creative in finding opportunities to steal information, and something as simple as forgetting to forward mail can put you and your family in jeopardy of identity theft.

Here are top safety steps for homeowners on the move:

1. Submit a Change of Address Form. Submit an official Change of Address Form through your local post office, and once the request has been filed, keep an eye out for a confirmation from the Postal Service. You can expect your mail to arrive at your new address within 7 to 10 business days after filing.
2. Shred sensitive documents. All important documents and paperwork that will not be coming with you should be shredded to prevent thieves from finding any information in your trash.
3. Monitor financial statements. Communicate your new address directly to banks, credit card companies, and other important financial institutions. (rather than just relying on the change of addr4ess form)   Then check to be sure you receive them at the normal time, and carefully review your statements for suspicious activity.
4. Use reputable moving companies. Take the time to read reviews, research the company and ask trusted friends, family or real estate agents for recommendations. Make sure the mover is registered with the Federal Motor Carrier Safety Administration (FMCSA), and has a U.S. Department of Transportation (USDOT) number before signing any agreements or obtaining an estimate.
5. Keep documents with you. Transfer all important physical documents that will be making the move, such as wills, stock certificates, bonds, etc., to a safe and secure place such as a locked box or an online secure vault. Keep the physical documents with you during the move.
6. Lock down your computer. Devote time and resources before your move to make sure all computers in your home are hack-proof and packed and out of sight before movers arrive.
7. Supervise the move. Your presence could deter potential theft from occurring and you can rest assured that your personal belongings are being taken care of properly.
8. Check your credit report. Take a look at your credit report for several months after you’ve moved. Any suspicious activity on the report may be a sign that your information has been compromised and local authorities and banks should be contacted.
9. Verify mail is being delivered. After the move, verify that you are receiving all mail from the list of senders you identified and contacted beforehand.
10. For more information about protection your identity, visit www.intersections.com

by The KCM Crew on August 9, 2011 ·

This blog prides itself on the quality of real estate information we deliver each and every day. We try to gather empirical evidence to validate the positions we take. We do not use just an anecdotal story to make a point. We also do not get caught up in the sensationalism of the moment. However, today will be different.

We can’t resist commenting on the story which recently appeared in the Wall Street Journal regarding Colby Sambrotto, the founder and former CEO of forsalebyowner.com. It seems the founding father and lifelong evangelist of the concept of selling your home without a real estate agent was forced to hire a broker to sell his home after failing at what he preaches others should do.

After failing to sell his NYC apartment on his own as a For Sale By Owner (FSBO), Sambrotto hired a broker and paid a 6% commission in order to get the job done. His personal experience helps refute some of the myths Sambrotto has been espousing for over a decade. Let’s look at two of those myths:

Myth #1 – You Will Pocket More Money Selling on Your Own

Most FSBO sites say you can save the commission by selling on your own. What happened in Sambrotto’s sale?

From the WSJ article:

“The broker, Jesse Buckler, said he told Mr. Sambrotto the apartment in the Lion’s Head building on West 19th Street near Sixth Avenue was priced too low and wasn’t drawing the right buyers.

By May, it went into contract, he said, after attracting multiple offers. It closed in the last few days for $150,000 more than the original asking price.”

Myth #2 – The Internet Alone Can Sell Your Home

Many have said that, with the introduction of home search on the internet, hiring an agent is no longer a necessity. What happened to the FSBO guru when he attempted to only depend on the internet?

From the WSJ article:

“Looking to move his family to the suburbs, [Mr. Sambrotto] said he carefully staged his apartment for sale himself, and put it on the market. But after using a mix of websites to publicize his apartment, he said he had only ‘middling success’ and switched to a broker because many buyers were so reliant on brokers.”

Bottom Line

There is a reason the real estate industry has been around for centuries: it performs a valuable service.

America Then and Now

The number of people living in the newly created United States back in July 1776 totaled 2.5 Million people. This 4th of July, the number of people living in the US is estimated at 311.7 Million.

Flags Unfurled

Did you know that $3.2 Million worth of American flags were imported in 2010? Perhaps more surprising is that $486,026 worth of American flags were exported, with Mexico being the leading customer of those flags.

Rockets’ Red Glare

More than $230 Million worth of fireworks and pyrotechnics are shipped by US manufacturers each year.

Lady Liberty

More than 31 places have the word “Liberty” in their names; the most populous is Liberty, Missouri with nearly 30,000 people.

Patriot-ism

Unlike the word “Liberty,” the word “Patriot” is rare in town or city names. In fact, according to the Census Bureau, there’s only one place with the word “Patriot” in its name, and that’s Patriot, Indiana, with 209 residents.

Best wishes to you on this special time of summer. And please contact me if I can be of any help.

They say good things are worth waiting for, and on this particular evening, passengers aboard an incoming Pilot-N-Paws flight from Louisiana would have to agree.  All the dogs on the plane are on their way to New Hampshire’s Manchester Airport, thousands of miles away from the gas chamber that was nearly the tragic scene of their last moments on earth.  And for those of you who can’t fathom exactly what a gas chamber looks like or what dogs inside experience, count yourself lucky because this is the stuff that keeps us up late at night.

The Warmth of Human Hands

Animal Aid of Vermillion Parish in Louisiana kicked off the rescue when they pulled the dogs from their intended fate.  Then, Animal Rescue Front, a small organization devoted to rescuing animals from the obscenely overcrowded animal control facilities and shelters in the South, set about the business of finding families and foster homes in the New England area.  

Because of these long distance rescues, the dogs, many of whom are as young as a year old, will have the opportunity to know the warmth of human hands, the softness of a sofa pillow and the satisfaction of enjoying a full bowl of healthy food.

The Dogs Meet Their Families & Foster Parents 

Anticipation sweeps across the tarmac as the nervous dogs deplane and find themselves in the arms of their new families.  Some might call it an instant love connection, but it’s more than that because the bond between dog and family began before they ever laid eyes on each other.  

There is a tremendous amount of pre-arrival preparation and that includes locating suitable adopters and foster families days before the flight takes off.  All the dogs on this flight were placed through the Friends of Manchester Animal Shelter, a New Hampshire adoption center that regularly accepts dogs from long distance transports.   

Take a Deep Breath

What this experience teaches us is more than just a simple exercise in teamwork.  It’s about rescuing animals from a hopeless situation.  These dogs, and the ones about to come through in June, were in an animal control center that offers no public adoptions.  They were miserable.  They had fallen through the cracks.  The idea of rescue seemed near impossible.  Yet one person had a vision that it could be done and everything snowballed from there.

The next time you find yourself sizing up a situation for an animal in distress, please remember this.  It can be done.  Take a deep breath.  Have a little faith.  Formulate a plan.

Article written by: Laura Simpson

ORLANDO, Fla. – May 10, 2011 – Florida’s existing home and existing condo sales rose in first quarter 2011 compared to the same period a year earlier, according to the latest housing statistics from Florida Realtors®. Existing home sales increased 13 percent in 1Q 2011 with a total of 44,531 homes sold statewide; during the same period the year before, a total of 39,406 homes changed hands according to Florida Realtors. Statewide sales of existing condos in the first quarter rose 29 percent compared to the year-ago sales figure.

The statewide existing-home median sales price was $123,600 for the three-month period; in 1Q 2010, it was $131,100 for a decrease of 6 percent. Seventeen of Florida’s metropolitan statistical areas (MSAs) reported increased sales of existing homes in 1Q 2011 compared to the same three-month-period a year earlier, while 18 of the MSAs showed gains in condo sales, according to Florida Realtors.

Looking at Florida’s housing sector in the first quarter of 2011, Dr. Sean Snaith, director of the University of Central Florida’s Institute for Economic Competitiveness, pointed out that the recovery is gaining strength. “Florida Realtors’ first quarter report shows sales picking up significant momentum after decelerating in the fourth quarter of last year, though prices are continuing to slip,” Snaith said. “The labor market recovery is just starting to blossom – once it is in full bloom it will provide some needed curb appeal for Florida’s struggling housing market by creating a new pool of qualified buyers and preventing other homeowners from falling victim to foreclosure.

“Distressed properties are proving to be an ongoing complication in the healing process of Florida’s housing market,” he added. “The foreclosure moratorium and Florida’s overburdened court system have slowed the process of handling foreclosures. Until these properties can move through this process, complete recovery will be difficult to attain.”

In the year-to-year quarterly comparison for existing condo sales, 23,375 units sold statewide in the first quarter compared to 18,170 units in 1Q 2010 for a 29 percent increase. The statewide existing-condo median sales price was $80,700 in 1Q 2011; a year earlier, it was $96,100 for a decrease of 16 percent. Sales of foreclosures and other distressed properties continue to downwardly distort the median price because they generally sell at a discount relative to traditional homes, according to the National Association of Realtors® (NAR). The median is a typical market price where half the homes sold for more, half for less.

Low mortgage rates continued to be available during the first quarter of the year. According to Freddie Mac, the national commitment rate for a 30-year conventional fixed-rate mortgage averaged 4.85 percent in 1Q 2011; one year earlier, it averaged 5.0 percent.

Now is the definately the time to make that purchase. Call me today at 239-281-6234 or email at tobi@tobimorgan.com.

The marketing company surveyed nearly 600 real estate professionals to discover which DIY home improvement projects give sellers the biggest return for their buck. Here are six projects under $1,000 (amounts are estimated) that made the list.

1. Cleaning and decluttering. Remove any personal items, unclutter countertops, organize closets and shelves, and make the home sparkling clean. 

$290 Cost

$1,990 Return

 2. Brightening. Clean all windows inside and out, replace old curtains, update lighting fixtures, and remove anything that blocks light from the windows.

$375 Cost            

 $1,550 Return

 3. Smart staging. Rearrange furniture, bring in new accessories and furnishings to enhance rooms, incorporate artwork, and play soft music in the background.

$550 Cost             

$2,194 Return

 4. Landscaping enhancements. Punch up the home’s curb appeal in the front and back yards by adding bark mulch, bushes, and flowers and ensuring current plants and grass are well-cared for and manicured.

$540 Cost            

$1,932 return

 5. Repairing electrical or plumbing. Fix leaks under the sinks, remove any mildew stains, and ensure all plumbing is in good working condition. Update the home’s electrical with new wiring for modern appliances, fix any lights or outlets that don’t work, and replace old plug points with new safety fixtures. 

$535 Cost             

$1,505 Return

 6. Replacing or shampooing dirty carpets. Steam-clean carpets, replace any worn carpets, and repair any floor creaks. 

$647 Cost             

$1,739 Return

Excerpted from HomeGain’s 2011 Home Sale Maximizer Survey, www.homesalemaximizer.com.