Lisa and Jim's Northern Nevada Real Estate Blog: July 2009

Winston Churchill, in a quote describing how we should face adversity, said, “If you are going through hell, keep going.” Nothing better describes how we should best respond to difficult situations. Don’t stop; don’t waste time lamenting; just forge ahead.

 

There was once a time we lacked the very things that many now feel they have lost. We’ve all had setbacks, temporary reversals that may have thrown us off track; but such vexations are in no means a measure of success. And while we sometimes look to our accumulated wealth to judge our success or failure; possessions are not the gauge. They’re only a superficial and meaningless inventory of accumulations. True success resides in those who never give up; who, after stumbling, pick themselves up and try again; who have an unyielding commitment to prevail against overwhelming odds; and who never quit until the goal is achieved.

 

You see, in the end, life is not about what the world does to us, it’s all about how we react to the challenges we encounter along the way. Failure is a word; of itself powerless. Only we can allow it to become a state of mind.

 

Each morning we are presented with new opportunities and new obstacles, with a new day of choices. Our choice can be to brood over past errors and misfortunes, or we can use our time to multiply our opportunities for success. Though people and events may influence our path, nothing outside of us has the power to alter our course. The ultimate choices, and the pathway to success, are always our own.

 

The Housing Guru: The one source for all your housing questions.

Stores are pretty in Paris.  Department store ceiling - Gallerie Lafayette.

Photo by Jim Valentine, RE/MAX Realty Affilliates, 1320 Highway 395, Gardnerville, NV  89410.  www.carsonvalleyland.com   dpwtigers@hotmail.com    775-781-3704   Lisa Wetzel and Jim Valentine Serving Northern Nevada for 30 years - Carson Valley, Gardnerville, Minden, Genoa, Topaz, Smith Valley, Carson City, Dayton, Stagecoach.  Land, ranches, residential, short sale, REO, investment, and development properties.

You have to listen to this!!

Who is bearing the brunt of this Government Health-care take over.

My question is why are we willing to allow the left to use our tax dollars to eliminate those who are not convenient through abortion at the beginning of life and in addition we are willing to allow them to eliminate those who are not convenient at the end of life. Let's see, follow the money!!

Let me ask you, Are you convenient? How much is your life worth and that of your parents and children.  

Like I have said before many wanted change so much that they bought into electing the most far left radical President in American history. Many were not willing to get educated on his associations and contacts before the election.

I think we better take a look at who he is putting in positions of power before we hand our health-care system over to him.

Now serving as the White House "science czar." John Holdren, Obama's director of the White House Office of Science and Technology Policy and co-chair of the President's Council of Advisors on Science and Technology, co-authored the innocuously titled "Ecoscience" in the 1970s with population control extremists Paul and Anne Ehrlich.

The president's Health Advisor Dr Ezekiel Emanuel (Rahm's brother)says People who have incurable/irreversable illnesses should not be given direct health services. Such as denying basic health care services to a person with dementia. (or a child with cerebral palsy, etc)

Betsy McCaughey's recent address on the changes in store for our health care system. 

Click hereto watch Betsy McCaughey discuss President Obama's healthcare plans

 

If you are looking to improve your credit score quickly, now is the time to get started. Email or give us a call at 678-648-5626. We'll review your credit and find out exactly where you stand and where you need to get to. In the meantime, here are some great strategies you can utilize right away to give your score a little boost.

Create Some Balance: While paying down installment debt (car, school, mortgage, etc.) will definitely boost your credit score, paying down or paying off revolving debt, such as credit cards, can cause a quick jump in your credit score. The trick is to get and keep your balances below 30% of your credit limit on each card. For faster results, attack those cards with balances closer to their respective credit limits first, as opposed to those cards with simply the highest debt. Remember, if you pay off any credit cards completely, do not close your accounts without discussing it with your mortgage professional first. Cancelling those cards may inadvertently undo all of your hard work.

Know Your Limits: Make sure that your credit card issuers are reporting the correct limits on your accounts to the three major credit bureaus. Without an available limit, your account will appear to be maxed out at its highest reported balance each month. This could cost you up to 80 points in certain instances. Some creditors, such as American Express® and certain cards issued by Capital One®, actually have a policy of not reporting available credit. However, most companies will report your credit limits if you ask them in writing.

Take Some Credit: If you have a credit card account in very good standing, make sure that all three credit bureaus Equifax, Experian and TransUnion, know about it. Just like your credit limits, some creditors don't report your information to all three credit companies – this is why credit scores often vary between bureaus. If this is the case, give them a call to find out why. Correcting this oversight could provide a significant boost to your score. Also, if you're in very good standing, ask your creditor for a lower rate or higher credit limit. This will increase the gap in the debt you owe versus the credit you have available. Sometimes hinting about closing an account can suddenly bring out the generous spirit of certain card issuers. Give it a try. The worst they can say is no.

Protect Your Interests: Your credit is calculated based solely on the information available to your creditors. If you have a HELOC, make sure it's listed as a mortgage or an installment account on your credit reports and not a revolving debt. If you had a bankruptcy, be sure that all items associated with the bankruptcy are being reported correctly, that is with a zero balance. This action could increase your score by 50-100 points. Because simple mistakes like these can wreak havoc on your credit score, it's important to monitor your credit every four to six months.

Even the Score: If you find information on your credit report that you believe is inaccurate or incomplete, then you have the right to dispute it free of charge. For the fastest results, visit the appropriate credit bureau's website and file a complaint online. If supporting documents are necessary, you have to file your dispute by mail.

If you'd like more information or a copy of our Sample Dispute Letter, email us today. We'll be glad to help you in any way we can or, if it becomes necessary, refer you to credit professionals you can trust.

If you or anyone you know has any questions about credit scores or what can be done to repair them, please don’t hesitate to email or call 678-648-5626.

 

 

Summer’s here and in my house that means Jr. Lifeguards daily, tons of sand and sunscreen, loads of pool time and family barbeques, complete with ice cream.

The other night my sons and I were enjoying one of those classic ice cream treats called “Drumsticks”. You know the ones … Peanut pieces on top of vanilla ice cream, swirled with chocolate in an old fashion sugarcone. (I forgot how good they were …!!!)

So as Michael, Steven and I were enjoying our final bites, my youngest Steven piped up and said, “Daddy, you know why I love eating these?”

“Tell me" … I said.

My little dessert connoisseur said, “Because they taste really good, but my favorite part is the bottom. In your final bite, you get that big piece of chocolate. That’s why I like them … for that final bite!!”

He went on to say, “In no other treat is my favorite bite the last bite. Doughnuts get hot and sticky, lollipops get gloopy, and M & Ms melt by the time you get to the last few in the bag … Drumsticks are the only desert that has that perfect last bite!”

I walked away from the conversation thinking about my favorite “final bite” and then (of course!!!) to real estate … the lasting impressions that we as sales people make.

 Are we great to the client all of the way through the transaction and top off their experience with delight … or do we come on strong and then fizzle, leaving them with less than “perfect Drumstick” satisfaction?

Now stay with me here …

We should all commit to be more like the Drumstick and less like the doughnut!

Sometimes I hear consumers talk about their real estate agent experience and they complain … why? They tell me how great the agent was in the beginning as they were working to get the listing agreement signed, but then towards the end, the agent became distant and not so ‘sweet’. The consumer walks away, dissatisfied and disappointed.

That’s no way to end a relationship!

During these Summer months I challenge you to start thinking about the impressions and the client experience you’re giving to the people who have trusted you with their biggest investment. Commit to being that agent who gives these customers 110% and allows them to walk-away from the transaction as happy and content as Steven was the other night!

Here’s to being a Drumstick … (or just a really committed real estate agent!!!)

Strategy Matters and Passion Rules!

Tom Ferry

Buyers Can Help Themselves During The Course Of Escrow  

Congratulations to you Buyers that are in escrow.  Great price and great interest - it is a great time to be a Buyer.  To make sure your buying experience is smooth and successful there are some ways you can help yourself through the course of your escrow.  It isn't automatic that escrows close, and it is important that you help yourself along the way to make sure that yours does. 

One area that causes delays, and frustration, in escrow is not having all the documents signed, or signed in a timely manner.  There are many, many documents to sign during the course of negotiation, escrow, loan, and closing.  If you are asked to sign something, something you agree with, make a point to sign and return it in a timely manner.  If you have questions, ask them right away and get your answers.  Don't delay your performance because you are not happy with, or are questioning, something. 

If you are getting a new loan, don't make any purchases without talking to your lender.  We've seen a simple new $1,500 credit line at a department store blow a Buyer's ratios and almost cause the Buyers to lose their new home.  Without a private money swing loan they would not have been able to buy their home ... this news coming in while the Sellers are actually loading the moving van anticipating closing the next day.  Credit will be rechecked before funding.  If you get a new credit card, buy a new car, etc. you can jeopardize your loan. 

When you get your inspection reports - read them and make your repair requests immediately.  Repairs must be ordered, tradesmen scheduled, re-inspections made.  A delay of a couple of days can cause you grief at the closing end.  

How is your communication with your lender?  Are you talking about locking your interest rate?  Do you know your rate ... for sure?  A shocking higher rate when you are ready to close, even if you can qualify and make the payment, is not a pleasant experience - especially if it could have been avoided.  Are there pre-doc conditions?  Pre-funding conditions?  If so, get them handled as quickly as possible as things will be delayed until you do.  

Be available to your agent, be responsive to your agent, talk to your lender, stay active.  You don't have to be alert 24/7, but don't go underground.  If you travel stay in touch.  With email and faxes it is easy to get documentation to you most anywhere on the planet in a timely manner.  

Our advice: Delays in your actions can lead to a delay in the close of escrow.  These days there are new potential delay factors that we must deal with.  The appraisal may be reviewed.  The underwriter may initiate an unexpected and unexplainable hurdle that must be dealt with.  You can't control those items, but you can control your actions.  Be timely, pay attention, keep smiling, take action.  Be sure to bring certified funds to close the escrow, i.e.- cashier's check or have the funds wired, no personal checks. 

Remember to set up your utilities for the close of escrow.  If the Seller schedules them to be turned off you might be without power, gas or water for a few days.  It's the details of the transaction that will help you maintain your peace of mind as you move towards home ownership ... pay attention to them for your own sake. When it comes to choosing professionals to assist you with your real estate needs... Experience is Priceless!  Lisa Wetzel & Jim Valentine, RE/MAX Realty Affiliates, 775-781-5472.  carsonvalleyland@hotmail.com, www.carsonvalleyland.com 

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 Lisa Wetzel and Jim Valentine are the authors of this blog.  Lisa, Jim  and Jessie are experts in Carson Valley, Carson City and the tri-county area of Douglas County, Carson City and Lyon County.  Call our team anytime at 775-781-5472 or 775-781-3704.  To Search for Homes go to: www.findhomesincarsoncity.com of visit our website at www.CarsonValleyLand.com

Agents usually ask right up front when they encounter a prospective buyer, "Are you working with an agent?"  Amazingly, "working with an agent" means different things to different people.  Not all agents see it alike, and certainly Buyers don't always understand what is being asked.  It seems simple enough yet the interpretation varies according to your filters.

 A Buyer may have been shown 50 homes by an agent and yet they'll respond "no" when asked.  An agent may have talked to a Buyer one time on the phone, given the price and acquired the Buyer's name, and yet they will perceive that they are "working with" that Buyer.  How does this happen? 

 The Buyer doesn't always understand that the agent is asking the question to make sure that he isn't creating a conflict with another agent that may have considerable time invested in the Buyer.  The questioning agent wants to make sure he isn't wasting his time by working with someone else's customer which only leads to hard feelings all the way around - agents and customers.  The agent also doesn't want to spend time with someone that is dancing with several agents and choosing none. 

 Buyer's often don't understand that we work on commission - we get paid when they get what they want and all of the pieces to the puzzle are correctly assembled to facilitate the close of escrow.  It is up to the agent to explain the nature of our business to them so they will remain faithful to an agent they have confidence in and are comfortable with. 

 Some agents think that because they've shown property to someone they are working with them.  The Buyer, however, may not have been pleased with the agent's performance.  Pushing too hard, showing only their office listings, not hearing what they really wanted, an off color joke, etc. - all reasons for a Buyer to not want to continue "working" with that agent.  It is their right and often warranted. 

 Buyers can stray if they have not had the proper orientation to the practices of the real estate industry.  Tell them how it's going to work.  If they see a sign, any sign including a FSBO, "call me, I can help.  I'll get the information for you.  I will be there every step of the way, from finding the right property to negotiating, contracting, inspecting, reviewing the title and related deed restriction documentation, loan approval, repairs, etc., etc., etc.  In other words - I offer the services of a professional agent and I know and understand your wants, needs, and I care.  I will be there for you and your family.  Together we'll do good work and we'll get you what you want!" 

 This isn't a script, rather an idea.  I don't say it that way it's written above, but I get the ideas in during our initial meeting so they are confident in me and expect to work with me.  We both win.  I expect to work with them, but I don't take it for granted - I earn the honor.

 Remember, nobody owns a Buyer.  If you want to keep your Buyer be sure to care about them and focus on their wants and needs.  They will respond accordingly.

I have sat comfortably in the 3rd place position here in Austin and Travis County Texas on Active Rain for some time now.   Actually since Donna Harris relocated here from the Dallas area, (Donna is a good addition to our area and I love to read her post about her gorgeous little girl).

So, I do not mind being 3rd.  Jason Crouch is first with a megaton of points somewhere over 500,000 and Donna is second with about 450,000 of course these are not exact numbers, but close,  so here I am, comfortable in my little corner of the world doing my thing, blog posting, commenting, laughing and crying with my fellow Rainers.

Along comes my good friend Betina Foreman, Betina and I used of have cubby-offices across the hall from each other until I moved brokerages in January.  I thought it was awesome that I could share my adventures in the Rain with Betina.  Now she is nearly 3 putting me 4th.  OK.   we can go back and forth, no biggee.

Now complicate the picture, here comes Tim Moncrief, now Tim has a long standing blog here in the Rain but he wasn't Active... until a few months ago.  Thats OK.. .he is a successful Realtor® and turns out he is a successful blogger too.  I never met Tim in person but almost feel like I know him from his posts.

So one day my Internet went out, a big ole ugly lightening strike in our area wiped out all our wireless systems in the house.  (It was during a time of some family tragedy and was not of #1 Priority to get the wireless fixed the next morning).  It was actually more than a week before all was back online in my house.  So I see now, the comfortable 3rd place I had held for some time is gone. 

Everyday it's ... Betina, Tim, Gail... or wait, its Tim, Gail, Betina, now its Gail, Betina, Tim,  now this is making me dizzy.  I am sure that Tim and Betina are just as dizzy and wondering WHOSE ON 3rd NOW?

Did you think your contract dictated the closing date? Thanks to HERA, HOEPA, TILA and Regulation Z, that power has now been usurped and handed to your lender.

As of July 30, 2009, amendments pertaining to the Home Ownership and Equity Protection Act (HOEPA) and the Housing and Economic Recovery Act (HERA) take effect. They new rules were written to make the process of obtaining a mortgage more transparent to consumers, and to protect consumers by keeping them more informed, and thus making them more confident about the process of obtaining a mortgage. These regulations are in addition to the HVCC which was enacted May 1, 2009.

Here's the deal: HERA amends the Truth in Lending Act (TILA) through Regulation Z (where do they make up these names and acronyms??). The meat of HERA regulates the early and final disclosure of mortgage fees and the timing of fees. The importance of this amendment cannot be overstated. Although your real estate contract may have a specific closing date, if the mortgage lender has not complied with HERA, then it will NOT close. The agents, seller and buyer no longer have control of the closing date!

HERA also prohibits any up-front fees being collected whatsoever (with the exception of a credit report fee) until all initial disclosures are received. In order to get a loan on a 'fast track', buyers used to be able to provide a lender with a credit card to order an appraisal, etc. Not anymore. Now initial disclosures must be in the buyer's hands prior to fees being collected.

HERA also requires that the buyer receive a copy of the appraisal at least 3 days prior to closing. This is something the buyer can waive, but let's face it, in this market, I don't see many buyers waiving this right. They are going to want a copy of that appraisal, and I'd even speculate that many will attempt to read it.

Here's the DOOZY: If the Annual Percentage Rate (APR) disclosed on the Truth in Lending Disclosure changes more than 0.125%, from the initial disclosure, the disclosure must be revised and reissused to the borrower. Then the buyer must wait 3 days before they can close. So what are things that can affect the APR and trigger this unfortunate delay? Here's a short (and definitely NOT exhaustive) list:

• Re-inspection fees put on the HUD
• Wire Transfer Fees
• Home Warranty
• Any loan fees (origination, processing, underwriting, application, discounts points, lock fees)
• Escrow Fee
• VA Funding Fee
• Recording or Reconveyance fees
• HOA fees
• Transfer taxes

Basically, the deal is that you'd better have your fees straight UP FRONT and work with a reputable lender, otherwise deals are GOING TO GET DELAYED. In the case of consecutive closings, this can be a huge issue, and I can readily see sellers looking to buyers, and buyers looking to agents, escrow companies and lenders to eat whatever fees are changing the APR to close on time.

Buyers - if you're thinking about buying a home, make sure you work with a knowledgable reputable lender. Quiz them on the changes coming up with Truth in Lending and Regulation Z. And lastly, when buying a home, always talk to more than one lender, because you get what you pay for. Sooner than later, that may be as simple as closing on time.

                
 

 Posted By: Christianne Gordon - Northern Nevada Real Estate Agent - Realtor
with RE/MAX Realty Affiliates, specializing in Carson Valley Real Estate and Northern Nevada Real Estate.