The worst home buying mistakes! 04/16/2010
I recently found this article. I thought it was great so I had to share it. Waiting for the market to bottom out! No one, and I mean no one, can predict exactly where the market is going to be in a few months, next year, or further down the road, so trying to time your home purchase with the bottom of the market is pretty much futile. Generally there is really no bad or good time to buy if you are buying for the right reasons. If you're financially and emotionally ready to be a homeowner, it's always a good time to buy. Just think: all the time you spend on figuring out when to purchase a home, you could have been building equity, getting tax deductions and enjoying the many other benefits of home ownership! Buying a short sale, foreclosure or fixer-upper without doing your homework! Some home buyers are so set on finding a bargain, and many times they overlook the fact that buying a home that needs repairs can be an expensive and drawn out endeavor. Before buying a fixer-upper, make sure you are able to handle the stress of the fix up process, that you understand what you are getting into, and always get estimates on any necessary repairs and renovations. In addition you must make sure they will pay for themselves in increased property value. While the short sale and foreclosure market is full of opportunities, it is imperative to understand the scope and ramifications of potential problems you may encounter before buying a distressed property. Hiring an experienced real estate agent that knows how to handle foreclosures and short sales is essential. Not researching the neighborhood! What good is owning your dream home, if you don't like the neighborhood where it's located? Before shopping for a home, shop for a community and a neighborhood. Make sure it's a good fit for your lifestyle. Figure out how long your work commute is going to be, how close you want to be to amenities like recreation, shopping and nightlife, and which school districts are the best fit for your kids. Even if you don't have children, living near good schools generally raises your property value. Always visit any neighborhood you are considering several times and at different times of the day to get a good feel for it. The two biggest incentives for finding a quality community: a great neighborhood will always increase your home's value, while a bad one will always drag it down; and a great neighborhood will increase the enjoyment you are getting out of your home, while a bad one will put a damper on it. Thinking to short-term! Foremost the house you purchase should be a place that feels like home to you and your family, but it's important to remember that it is also a very large investment, most likely the biggest one you'll ever make. When shopping for a home, it pays to think about it's potential resale value down the road. Search for homes you are able to afford located in sought-after neighborhoods, and look for features that future buyers will want. Buying a home that may need a little work in a great neighborhood and fixing it up over time is an almost sure way to generate resale value down the road. Rent collections can be hard work!! 04/12/2010
 If you have ever done property management or collections of any kind, you know that collecting rents can be hard work. Lola has had a rough day at collecting!!! Know the Law!!! 03/24/2010
http://ago.mo.gov/publications/landlordtenant.htm This is the link for the Missouri Landlord Tenant Law. It is great to know for all tenants and landlords. Knowledge is power!! Get the $8000 while you can!! 03/15/2010
General Information On The Home Buyer Tax Credit. $8000 Tax Credit: First time home buyers who purchase (or sign a contract by April 30, 2010). Income limits apply. Adjusted gross income for a single person can't be no more than $125,000. For couples it is $250,000. Existing homeowner $6500 Tax Credit:
The following rules apply to both Home Buyer Tax Credit programs:
Predatory Lenders 09/09/2009
I had a situation that I have never had before in all of the years I have been doing Real Estate. A "Broker" (I will leave names out to protect the innocent and GUILTY) was giving the buyers figures that were not realistic at all. I questioned them and the deal fell apart. This "Broker" had a way of talking to the buyers that I had never seen before. It was un natural the hold he had over them. I am truly sad for the buyers because they were the only ones that lost out in this ordeal. Not only did they lose money but they lost the house that they loved. This "Broker" is in my opinion what they consider a predatory lender. I found this article on the HUD website and I thought it was worth posting on here. I believe that knowledge is power in any situation. They buyer has to have a knowledge of what is going on so they do not fall into these traps!! Protect Yourself from Predatory Lenders Buying or refinancing your home may be one of the most important and complex financial decisions you'll ever make. Many lenders, appraisers, and real estate professionals stand ready to help you get a nice home and a great loan. However, you need to understand the home buying process to be a smart consumer. Every year, misinformed homebuyers, often first-time purchasers or seniors, become victims of predatory lending or loan fraud. Don't let this happen to you! 11 Tips On Being A Smart Consumer
In communities across America, people are losing their homes and their investments because of predatory lenders, appraisers, mortgage brokers and home improvement contractors who:
If a deal to buy, repair or refinance a house sounds too good to be true, it usually is! Is this not the truth!! 07/28/2009
To Those of You Born 1930 - 1979 At the end of this email is a quote of the month by Jay Leno. If you don't read anything else, please read what he said. Very well stated, Mr. Leno.. TO ALL THE KIDS WHO SURVIVED THE 1930's, 40's, 50's, 60's and 70's!! First, we survived being born to mothers who smoked and/or drank while they were pregnant. They took aspirin, ate blue cheese dressing, tuna from a can and didn't get tested for diabetes. Then after that trauma, we were put to sleep on our tummies in baby cribs covered with bright colored lead-base paints. We had no childproof lids on medicine bottles, locks on doors or cabinets and when we rode our bikes, we had baseball caps not helmets on our heads. As infants & children, we would ride in cars with no car seats, no booster seats, no seat belts, no air bags, bald tires and sometimes no brakes. Riding in the back of a pick- up truck on a warm day was always a special treat. We drank water from the garden hose and not from a bottle. We shared one soft drink with four friends, from one bottle and no one actually died from this. We ate cupcakes, white bread, real butter and bacon. We drank Kool-Aid made with real white sugar. And, we weren't overweight. WHY? Because we were always outside playing....that's why! We would leave home in the morning and play all day, as long as we were back when the streetlights came on. No one was able to reach us all day. And, we were O.K. We would spend hours building our go-carts out of scraps and then ride them down the hill, only to find out we forgot the brakes. After running into the bushes a few times, we learned to solve the problem. We did not have Playstations, Nintendo's and X-boxes. There20were no video games, no 150 channels on cable, no video movies or DVD's, no surround-sound or CD's, no cell phones, no personal computers, no Internet and no chat rooms. WE HAD FRIENDS and we went outside and found them! We fell out of trees, got cut, broke bones and teeth and there were no lawsuits from these accidents. We ate worms and mud pies made from dirt, and the worms did not live in us forever. We were given BB guns for our 10th birthdays, made up games with sticks and tennis balls and, although we were told it would happen, we did not put out very many eyes. We rode bikes or walked to a friend's house and knocked on the door or rang the bell, or just walked in and talked to them. Little League had tryouts and not everyone made the team. Those who didn't had to learn to deal with disappointment. Imagine that!! The idea of a parent bailing us out if we broke the law was unheard of. They actually sided with the law! These generations have produced some of the best risk-takers, problem solvers and inventors ever. The past 50 years have been an explosion of innovation and new ideas. We had freedom, failure, success and responsibility, and we learned how to deal with it all. If YOU are one of them? CONGRATULATIONS! You might want to share this with others who have had the luck to grow up as kids, before the lawyers and the government regulated so much of our lives for our own good. While you are at it, forward it to your kids so they will know how brave and lucky their parents were. Kind of makes you want to run through the house with scissors, doesn't it ? ~ The quote of the month is by Jay Leno: 'With hurricanes, tornados, fires out of control, mud slides, flooding, severe thunderstorms tearing up the country from one end to another, and with the threat of bird flu and terrorist attacks, are we sure this is a good time to take God out of the Pledge of Allegiance?' Short sales, the good, the bad and the ugly! 07/23/2009
 Short sales!!! Happy 4th of July! 07/01/2009
Can you believe this year is half over already! As we come upon the 4th of July, I was pleasantly surprised to see my daughters’ daycare really teaching the kids about what the true meaning of that day is. | AuthorA little bit about me. My name is Tiffany Null. I was born and raised in Missouri. I am happily married and have 4 wonderful children and 2 grandchildren. Nothing is more important in life than family!  ArchivesApril 2010 Categories |
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