Sep. 25, 2007 - Fireplace Safety

There is nothing on a cool or cold winter's evening like a nice cozy fire.  How safe is your fireplace and when you go to sell is it going to be in good working order?

Keep furniture, curtains, and other flammables at least three feet away from your fireplace.

Don't let children stand to close.  They might get burned or their clothes might ignite.

Never burn garbage, charcoal or coal.  Also do not burn paper or cardboard as stray embers can cause indoor fires or fires on the roof.  Wrapping paper can cause toxin fumes to come out into the air.

Don't leave the fire unattended and keep a fire extinguisher handy.  Make sure the fires is out before going to bed or leaving the house.

Gas Fireplaces  should be checked by a professional annually they will clean the fan, clear any blocked vents and make any other adjustments that should be done.

Make sure the pipes connected to the fireplace are clear.

Turn the gas off completely when fireplace is not in use.

Keep the Chimney swept and the flue open.

 Wood-Burning Fireplaces  keep your roof clear of branches and anything that could block your chimney.

Always use a sturdy fire screen to keep sparks from coming out of the fireplace.

Open the flue before starting the fire and keep it open until the ashes have cooled.

Burn only properly seasoned hardwood that has dried for at least six months and doesn't appear green.

Don't overload the fireplace.

Use manufacture directions when burning artificial logs.

Soak ashes in water and store them in a tight fitting container. 

Sep. 25, 2007 - Using a Realtor

  The Critical Role of the Realtor®in the Real Estate Transaction

This list was put together by the Orlando Regional Realtors Association but it holds true for any Realtor® in any state.

Surveys show that many homeowners and homebuyers are not aware of the true value a REALTOR® provides during the course of a real estate transaction.   At the same time, regrettably, REALTORS® have generally assumed that the expertise, professional knowledge and just plain hard work that go into bringing about a successful transaction were understood and appreciated.

The list is by no means an attempt to set forth a complete list of services as these may vary within each brokerage and each market.

By the same token, some transactions may not require all of these steps to be equally successful.  However, most would agree that given the unexpected complications that can arise, it is far better to a step up and make an intelligent, informed decision, than to not know the possibility even existed.

The REALTOR® Commitment

Through it all, the personal and professional commitment of the REALTOR® is to ensure that a seller and buyer are brought together in an agreement that provides each with a win/win  that is fair and equitable to both sides of the transaction.

The motivation is easy to understand. For most full-service brokerages, they receive no compensation unless and until the sale closes.

A Variety of Choices

The variety of brokerage business models in todays real estate industry affords the homeowner a greater range of options than ever before.But no matter which option is chosen, before signing a Listing Agreement or otherwise engaging the services of a REALTOR® and agreeing to compensate them, homeowners should understand exactly what services will, or will not, be provided.  For that extra measure of peace of mind, ensure the individual seeking to represent you is both a real estate licensee and a REALTOR®.

Why Use A REALTOR®?

Not every real estate agent or broker is a REALTOR®. That term and the familiar Block logo are trademarked by the National Association of REALTORS.

The major difference between a real estate licensee a REALTOR® is that REALTORS® have taken an oath to subscribe to a stringent, enforceable Code of Ethics with Standards of Practice that promote the fair, ethical and honest treatment of all parties in a transaction. Non-member licensees have taken no such oath and are not morally bound to the ethical practices and principles set for in the REALTOR® Code.

The Critical Role of the REALTOR®

Listed here are nearly 200 typical actions, research steps, procedures, processes and review stages in a successful residential real estate transaction that are normally provided by a REALTOR®

More importantly, they reflect the level of skill, knowledge and attention to detail required in todays real estate transaction, underscoring the importance of having help and guidance from someone who fully understands the process.

Pre-Listing Activities

1 Make appointment with seller for listing presentation

2 Send seller a written or e-mail confirmation of listing appointment and call to confirm

3 Review pre-appointment questions

4 Research all comparable currently listed properties

5 Research sales activity for past 18 months from MLS and public records databases

6 Research "Average Days on Market" for this property of this type, price range and location

7 Download and review property tax roll information

8 Prepare "Comparable Market Analysis" (CMA) to establish fair market value

9 Obtain copy of subdivision plat/complex lay-out

10 Research property's ownership & deed type

11 Research property's public record information for lot size & dimensions

12 Research and verify legal description

13 Research property's land use coding and deed restrictions

14 Research property's current use and zoning

15 Verify legal names of owner(s) in county's public property records

16 Prepare listing presentation package with above materials

17 Perform exterior "Curb Appeal Assessment" of subject property

18 Compile and assemble formal file on property

19 Confirm current public schools and explain impact of schools on market value

20 Review listing appointment checklist to ensure all steps and actions have been completed

Listing Appointment Presentation

21 Give seller an overview of current market conditions and projections

22 Review agent's and company's credentials and accomplishments in the market

23 Present company's profile and position or "niche" in the marketplace

24 Present CMA Results To Seller, including Comparables, Solds, Current Listings & Expireds

25 Offer pricing strategy based on professional judgment and interpretation of current market conditions

26 Discuss Goals With Seller To Market Effectively

27 Explain market power and benefits of Multiple Listing Service

28 Explain market power of web marketing, IDX and REALTOR.com

29 Explain the work the brokerage and agent do "behind the scenes" and agent's availability on weekends

30 Explain agent's role in taking calls to screen for qualified buyers and protect seller from curiosity seekers

31 Present and discuss strategic master marketing plan

32 Explain different agency relationships and determine seller's preference

33 Review and explain all clauses in Listing Contract & Addendum and obtain seller's signature

Once Property is Under Listing Agreement

34 Review current title information

35 Measure overall and heated square footage

36 Measure interior room sizes

37 Confirm lot size via owner's copy of certified survey, if available

38 Note any and all unrecorded property lines, agreements, easements

39 Obtain house plans, if applicable and available

40 Review house plans and make copy

41 Order plat map for retention in property's listing file

42 Prepare showing instructions for buyers' agents and agree on showing time window with seller

43 Obtain current mortgage loan(s) information: companies and & loan account numbers

44 Verify current loan information with lender(s)

45 Check assumability of loan(s) and any special requirements

46 Discuss possible buyer financing alternatives and options with seller

47 Review current appraisal if available

48 Identify Home Owner Association manager if applicable

49 Verify Home Owner Association Fees with manager - mandatory or optional and current annual fee

50 Order copy of Homeowner Association bylaws, if applicable

51 Research electricity availability and supplier's name and phone number

52 Calculate average utility usage from last 12 months of bills

53 Research and verify city sewer/septic tank system

54 Water System: Calculate average water fees or rates from last 12 months of bills )

55 Well Water: Confirm well status, depth and output from Well Report

56 Natural Gas: Research/verify availability and supplier's name and phone number

57 Verify security system, current term of service and whether owned or leased

58 Verify if seller has transferable Termite Bond

59 Ascertain need for lead-based paint disclosure

60 Prepare detailed list of property amenities and assess market impact

61 Prepare detailed list of property's "Inclusions & Conveyances with Sale"

62 Compile list of completed repairs and maintenance items

63 Send "Vacancy Checklist" to seller if property is vacant

64 Explain benefits of Home Owner Warranty to seller

65 Assist sellers with completion and submission of Home Owner Warranty Application

66 When received, place Home Owner Warranty in property file for conveyance at time of sale

67 Have extra key made for lockbox

68 Verify if property has rental units involved. And if so:

69 Make copies of all leases for retention in listing fileí

70 Verify all rents & deposits

71Inform tenants of listing and discuss how showings will be handled

Entering Property in Multiple Listing Service Database

72 Arrange for installation of yard sign

73 Assist seller with completion of Seller's Disclosure form

74 "New Listing Checklist" Completed

75 Review results of Curb Appeal Assessment with seller and provide suggestions to improve salability

76 Review results of Interior Décor Assessment and suggest changes to shorten time on market

77 Load listing into transaction management software program

Entering Property in Multiple Listing Service Database

78 Prepare MLS Profile Sheet -- Agents is responsible for "quality control" and accuracy of listing data

79 Enter property data from Profile Sheet into MLS Listing Database

80 Proofread MLS database listing for accuracy - including proper placement in mapping function

81 Add property to company's Active Listings list

82 Provide seller with signed copies of Listing Agreement and MLS Profile Sheet Data Form within 48 hours

83 Take additional photos for upload into MLS and use in flyers. Discuss efficacy of panoramic photography

Marketing The Listing

84 Create print and Internet ads with seller's input

85 Coordinate showings with owners, tenants, and other Realtors

86 Install electronic lock box if authorized by owner. Program with agreed-upon showing time windows

87 Prepare mailing and contact list

88 Generate mail-merge letters to contact list

89 Order “Just Listed� labels & reports

90 Prepare flyers & feedback faxes

91 Review comparable MLS listings regularly to ensure property remains competitive in price, terms, conditions and availability

92 Prepare property marketing brochure for seller's review

93 Arrange for printing or copying of supply of marketing brochures or fliers

94 Place marketing brochures in all company agent mail boxes

95 Upload listing to company and agent Internet site, if applicable

96 Mail Out "Just Listed" notice to all neighborhood residents

97 Advise Network Referral Program of listing

98 Provide marketing data to buyers coming through international relocation networks

99 Provide marketing data to buyers coming from referral network

100 Provide "Special Feature" cards for marketing, if applicable

101 Submit ads to company's participating Internet real estate sites

102 Price changes conveyed promptly to all Internet groups

103 Reprint/supply brochures promptly as needed

104 Loan information reviewed and updated in MLS as required

105 Feedback e-mails/faxes sent to buyers' agents after showings

106 Review weekly Market Study

107 Discuss feedback from showing agents with seller to determine if changes will accelerate the sale

108 Place regular weekly update calls to seller to discuss marketing & pricing

109 Promptly enter price changes in MLS listing database

The Offer and Contract

110Return all calls - weekends included

111 Receive and review all Offer to Purchase contracts submitted by buyers or buyers' agents.

112 Evaluate offer(s) and prepare a "net sheet" on each for the owner for comparison purposes

113 Counsel seller on offers. Explain merits and weakness of each component of each offer

114 Contact buyers' agents to review buyer's qualifications and discuss offer

115 Fax/deliver Seller's Disclosure to buyer's agent or buyer upon request and prior to offer if possible

116 Confirm buyer is pre-qualified by calling Loan Officer

117 Obtain pre-qualification letter on buyer from Loan Officer

118 Negotiate all offers on seller's behalf, setting time limit for loan approval and closing date

119 Prepare and convey any counteroffers, acceptance or amendments to buyer's agent

120 Fax copies of contract and all addendums to closing attorney or title company

121 When Offer to Purchase Contract is accepted and signed by seller, deliver to buyer's agent

122 Record and promptly deposit buyer's earnest money in escrow account.

123 Disseminate "Under-Contract Showing Restrictions" as seller requests122 Deliver copies of fully signed Offer to Purchase contract to seller

124 Fax/deliver copies of Offer to Purchase contract to Selling Agent

125 Fax copies of Offer to Purchase contract to lender

126 Provide copies of signed Offer to Purchase contract for office file

127 Advise seller in handling additional offers to purchase submitted between contract and closing

128 Change status in MLS to "Sale Pending"

129 Update transaction management program to show "Sale Pending"

130 Review buyer's credit report results -- Advise seller of worst and best case scenarios

131 Provide credit report information to seller if property will be seller-financed

132 Assist buyer with obtaining financing, if applicable and follow-up as necessary

133 Coordinate with lender on Discount Points being locked in with dates

134 Deliver unrecorded property information to buyer

135 Order septic system inspection, if applicable

136 Receive and review septic system report and assess any possible impact on sale

137 Deliver copy of septic system inspection report lender & buyer

138 Deliver Well Flow Test Report copies to lender & buyer and property listing file

139 Verify termite inspection ordered

140 Verify mold inspection ordered, if required

Tracking the Loan Process

141 Confirm Verifications Of Deposit & Buyer's Employment Have Been Returned

142 Follow Loan Processing Through To The Underwriter

143 Add lender and other vendors to transaction management program so agents, buyer and seller can track progress of sale

144 Contact lender weekly to ensure processing is on track

145 Relay final approval of buyer's loan application to seller

Home Inspection

146 Coordinate buyer's professional home inspection with seller

147 Review home inspector's report

148 Enter completion into transaction management tracking software program

149 Explain seller's responsibilities with respect to loan limits and interpret any clauses in the contract

150 Ensure seller's compliance with Home Inspection Clause requirements

151 Recommend or assist seller with identifying and negotiating with trustworthy contractors to perform any required repairs

152 Negotiate payment and oversee completion of all required repairs on seller's behalf, if needed

The Appraisal

153 Schedule Appraisal

154 Provide comparable sales used in market pricing to Appraiser

155 Follow-Up On Appraisal

156 Enter completion into transaction management program

157 Assist seller in questioning appraisal report if it seems too low

Closing Preparations and Duties

158 Contract Is Signed By All Parties

159 Coordinate closing process with buyer's agent and lender

160 Update closing forms & files

161 Ensure all parties have all forms and information needed to close the sale

162 Select location where closing will be held

163 Confirm closing date and time and notify all parties

164 Assist in solving any title problems (boundary disputes, easements, etc) or in obtaining Death Certificates

165 Work with buyer's agent in scheduling and conducting buyer's Final Walk-Thru prior to closing

166 Research all tax, HOA, utility and other applicable prorations

167 Request final closing figures from closing agent (attorney or title company)

168 Receive & carefully review closing figures to ensure accuracy of preparation

169 Forward verified closing figures to buyer's agent

170 Request copy of closing documents from closing agent

171 Confirm buyer and buyer's agent have received title insurance commitment

172 Provide "Home Owners Warranty" for availability at closing

173 Review all closing documents carefully for errors

174 Forward closing documents to absentee seller as requested

175 Review documents with closing agent (attorney)

176 Provide earnest money deposit check from escrow account to closing agent

177 Coordinate this closing with seller's next purchase and resolve any timing problems

178 Have a "no surprises" closing so that seller receives a net proceeds check at closing

179 Refer sellers to one of the best agents at their destination, if applicable

180 Change MLS status to Sold. Enter sale date, price, selling broker and agent's ID numbers, etc.

181 Close out listing in transaction management program

Follow Up After Closing

182 Answer questions about filing claims with Home Owner Warranty company if requested

183 Attempt to clarify and resolve any conflicts about repairs if buyer is not satisfied

184 Respond to any follow-on calls and provide any additional information required from office files 

Many of the most important services and steps are performed behind the scenes by either the REALTOR®or the brokerage staff and traditionally have been viewed simply as part of their professional responsibilitiesto the client. But, without them, the transaction could be placed in jeopardy.This publication seeks to close that gap.

Sep. 25, 2007 - Six things a Home Buyer Can Do

    Six Simple Things You Can Do to Ensure a Smooth Home Purchase

Buying a home can be an emotional, time-consuming, and complex process. There are a few things that you can do to help make the process go as smooth as possible:

1.) Check your credit

Before you apply for a home loan, regardless of your credit, it's a smart idea to obtain a copy of your credit report from the three major credit bureaus and review the information. If there are errors or things that need to be addressed, it's easier to address them before you have found a house, than after you have found a house and are trying to close your loan.

If you know that there are a few blemishes on your credit, let your lender know what they are, why they are there, and why you are a still good credit risk. Lenders look at your credit to determine how likely you will pay back the loan. If you had extenuating circumstances like a loss of a job or medical bills - let them know so that they understand that it is not likely to happen again in the future.

2.) Get approved before you buy

An approval means that a lender has reviewed your credit history, verified your asset approved your loan before you have found a home to purchase. As long as the home appraises for at least the purchase price, the loan should close.firm approval makes it easier for you to negotiate on the price of a home, than a person who is not approved or is pre-qualified.

Getting approved also gives you an advantage over other buyers. Your s and employment, and has

While getting pre-qualified may sound official, it is really just getting an idea of what you can afford. Its having a person plug in a few numbers that you give them - your monthly income and your monthly debt - and getting an approximate payment calculated. From the payment, the calculator can approximate the house price range that you can afford. No information is verified. Because your assets, income or credit is not verified, a prequalification has little value when purchasing a home.

3.) Find a great buyer's agent.

Traditionally real estate agents represent the sellers in a transaction. When you are not working with a buyer's agent, they are less likely to negotiate the best price or contingencies for you.

A buyer's agent's job and fiduciary responsibility (meaning legal duty) is to you, the buyer. Before working with an agent, establish if they are a buyer's agent or a seller's agent. After spending a lot of time with a Realtor, it's natural to feel like you're a team. But if they are not negotiating for you, then they are not on your team.

4.) Learn about the neighborhood.

Often times the house you find may be in a neighborhood that you're not familiar with, which is ok. It just means that you'll have to do a little more research. If you find a house that you like, ask for a list of the neighborhood properties that sold in the last year. How does your home rank? Is it at the top of the price range? If so, it might be hard to resell. Is it average or on the low end? If so, great - as the other home prices go up in value, they will pull your home's value up as well.

Check out the schools - are they sought after? A good school district means your neighborhood will always be valued by families which is a great reassurance to purchase, not to mention the value-add if you have school-age children.

Next, contact the police station and obtain crime statistics? Are they acceptable to you? Sometimes, if they won't give them to you, it could be a cause for alarm. Talk to the neighbors. The more people you talk to, the better sense you will get of who makes up the neighborhood and how they will effect your time spent in it.

Check out the location of the shopping, police and fire stations, schools, and air traffic overhead. These are all things that might affect your property value or quality of your life.

5.) Protect Yourself.

Ask your Realtor for a copy of the documents you will be asked to sign if you decide to buy the house. Read them ahead of time so that you'll understand the questions that you will be asked, the things you need to know, and the decisions you will need to make.

6.) Have reasonable expectations.

 No house is perfect. Understanding and remembering these two statements will help diffuse the negotiation stage, the inspection stage and the closing stage.

Emotions are high for both buyers and sellers. - The seller may have loving memories and  years of sweat equity in the house. Maybe they are being relocated and don't want to go. Understanding their motivations for selling will help you appreciate their situation and predicament during these emotional times.

There is a lot of money at stake for all the parties involved (and that includes the realtors)

Just remember that market value (the value of a home) is the price that a willing buyer and a willing seller can agree to. If you can not agree on a price, ask yourself: Is there something you missed? Are there comparables that support the price that they want? Are there motivations that might factor into the price they are demanding? In the end, does it matter?

What is the house worth to you today and what do you think you can reasonably sell it for based on the amount of time you plan to spend in it? Think about the answers to those questions before you make your move.

No house is perfect - Always get an inspection. It might be a few hundred dollars, but it's worth it. It's the inspector's job to find any problems with the house that could cost you thousands to repair down the road. Some inspectors have a tendency to over play the importance of their role and the items that they find. Get objective opinions that you trust before making a decision on an inspection report. Likewise, if an inspector says a foundation is cracked but its nothing to worry about - get a second opinion. Ask a handyman for an idea of how much repairs will cost and how complicated they are. The home buying process is an emotional, complex and time-consuming process, but it is worth it. Nothing compares to owning your own home in a neighborhood that you chose.

Sep. 25, 2007 - Getting Good Credit

Credit Scoring

In a nutshell, credit scoring is a statistical method of assessing the credit risk of a loan applicant. The score is a number that rates the likelihood an individual will pay back a loan.

The score looks at the following items:

1.     Past delinquencies.

2.     Derogatory payment behavior.

3.     Current debt level.

4.     Length of credit history.

5.     Types of credit.

6.     Number of inquiries.

       Weather you are a first-time home buyer or you are planning to refinance your existing home loan, it is important to understand how your credit history influences the process. When you are being considered for a loan, the lender looks at your past payment history, the amount of credit you have outstanding and the amount of credit you have available—a snapshot of you as a borrower.

Mortgage lenders rely either on a consumer’s credit score, such as a FICO score developed by Fair, Isaacs & Company, or use a combination of FICO score and other factors to price a loan. Credit bureau information is used to obtain a number that represents how likely you are to make your loan payments on time. FICO scores range from approximately 250 to 900 and in general, higher scores predicts timely mortgage payments.

Your credit history directly affects the interest rate and fees (or points) a lender charges. Consumers with the best credit generally pay the lowest amount for a home loan. Building and maintaining strong scores may be as simple as improving your credit profile. Recommendations for doing so include:

• Making timely payments each month—the best way to increase a credit score is to pay bills on time.
• Paying off outstanding debt and limiting the amount of credit you use—lowering balances on credit cards and lines, and keeping them low, raises a credit score.
• Requesting a lower credit limit on current credit cards to avoid high credit limits—High credit limits relative to income can adversely affect a score.
• Closing credit accounts limits the number of credit lines—an obligation to pay multiple accounts lowers a credit score. By consolidating debt onto two or three credit lines and canceling other accounts, scores can be raised.
• Checking credit reports periodically—incorrect credit information in a credit bureau file may lower a credit score. The three major bureaus who provide reports for a small fee are Equifax (800-405-0081), Experian (800-682-7654), and TransUnion (800-888-4213).
• Not applying for credit you don't need—whenever you apply for credit, the creditor will obtain a credit report from one or more of the three credit bureaus. Each such inquiry stays on your record and affects your score. This is because each inquiry suggests that you are increasing the amount of credit available to you.

Credit scoring will place borrowers in one of three general categories.

• First, a borrower with a score 680 and above may be considered an A+ loan. The loan will involve basic underwriting, probably through a "computerized automated underwriting" system and be completed within minutes. Borrowers falling into this category may have a good chance to obtain a lower rate of interest and close their loan within a couple of days.
• Second, a score below 680 but above 620 may indicate underwriters will take a closer look at the file in determining potential risks. Borrowers falling into this category may find the process and underwriting time no different than in the past. Supplemental credit documentation and letters of explanation may be required before an underwriting decision is made. Loans within this FICO scoring range may allow borrowers to obtain "A" pricing, but loan closing may still take several days or weeks as it does now.
• Third, borrowers with a score below 620 may find themselves locked out of the best loan rates and terms offered. Mortgage professionals may divert these borrowers to alternate funding sources other than the prominent secondary market sources FNMA (Fannie Mae) or FHLMC (Freddie Mac). Borrowers may also find the loan terms and conditions less attractive than the "A".  This would be A- thru D loans called sub prime lending.  It may take some time before a suitable funding source is located to support a buyer's needs.

Interest rates are reasonable these days, and homeownership has become more affordable thanks to a strong economy. Whether you are homeowners moving up into larger residences, or first-time home buyers, your credit history is a key component in your success.

In making a loan decision, mortgage lenders closely review an applicant's credit history for late payments -- fewer blemishes on a credit report increase the likelihood of approval. Being late on a house payment, credit card payment or other obligations will be reflected negatively on a credit report. A pattern or history of late payments or delinquent accounts is generally regarded as a "red flag" and may require an explanation, or may result in denial of the loan.

Many people don't realize that building and maintaining good credit is essential throughout their lifetimes. Good habits to keep a good credit profile include:

- Paying bills on time each month. This shows the consumer knows how to manage credit. Paying off outstanding debt and limiting the amount of credit used are good practices.

- Requesting a lower credit limit. Consumers shouldn’t extend their credit limit above their income, no matter how many tempting solicitations they receive.

- Closing credit accounts. It’s a good idea to consolidate debt and cancel other unnecessary accounts whenever possible. It shows responsible credit management.

- Being proactive, not reactive. Consumers who are unable to meet their payment obligations should contact their creditors and work out a payment plan as soon as possible. The nonprofit Consumer Credit Counseling Service (800-388-2227) can help in resolving credit issues.

Building and keeping good credit and managing it well is a major part of homeownership, which in turn drives much of the local economy. As a real estate professional, you are in a unique position to help your clients, potential clients and the community-at-large in understanding the lifelong importance of their credit histories. The next time you have the opportunity to coach someone about the value of healthy credit, share these worthwhile ideas. They can help everyone’s business.

The higher you credit score, the lower the interest rate you can qualify for will be.  There are a few lesser known facts that could help you boost you credit scores.

Ask for a DO OVER :

If you have a smudge on your credit rating from one or two late payments, call the creditor and ask them to delete the late payment from your record.  A single late payment can lower you score by as much as 100 points.  If the late payment has not been a habit, they are likely to do it.

Know the right lender:

Ask a prospective lender if it has access to " rapid re-scoring."  It means an error can be wiped out in as little as 24-48 hours instead of the normal month or more.  Thus qualifying you to a lower interest rate.

In most states you can now get your credit reports free once a year.  In this era of identity fraud it is important to keep on top.  You could order one from each credit agency every four months.  To find out when your state qualifies for a free report or to order one log onto :

www.annualcreditreport.com

These ideas came from the book The ABC'S of getting out of debt by Garrett Sutton 

Sep. 20, 2007 - Qualified or NOT

DON'T GET "PRE-QUALIFIED”!

Do you want to get the best house you can for the least amount of money? Then make sure you are in the strongest negotiating position possible. Price is only one bargaining chip in the negotiations, and not necessarily the most important one. Often other terms, such as the strength of the buyer or the length of escrow, are critical to a seller.

In years past, I always recommended that buyers get "pre- qualified" by a lender. This means that you spend a few minutes on the phone with a lender who asks you a few questions. Based on the answers, the lender pronounces you "pre-qualified" and issues a certificate that you can show to a seller.  Sellers are aware that such certificates are WORTHLESS, and here's why! None of the information has been verified! Oftentimes unknown problems surface!

Some of the problems I've seen include recorded judgments, child support payments due, glitches on the credit report due to any number of reasons both accurately and inaccurately, down payments that have not been in the client's bank account long enough, etc. So the way to make a strong offer today is to get "pre-approved".

This happens AFTER all information has been checked and verified. You are actually APPROVED for the loan and the only loose end is the appraisal on the property. This process takes anywhere from a few days to a few weeks depending on your situation. It's VERY POWERFUL and a weapon I recommend all my clients have in their negotiating arsenal.

Sep. 9, 2007 - Foster Care in Las Vegas

Red Carpet Kids Foster Houses

As a real estate agent I wanted to give something back to the community. I have long wanted to have a ranch that would be a home for foster kids and animals. I have to take care of my mother right now as she is getting on so I couldn't do the ranch right now.

Instead I purchased two BIG houses found two couples who are more angels that anything and have proceeded to set up the houses. Now keep in mind these couples live with the kids 24/7 and give them all they need in stability and love. In turn I pay for everything else. Now I do get some money from the Eagle Quest foundation but it takes about four months to see the money and that is longer than I thought it would take.

Now I am in danger of losing the houses as I am two payments behind. (Including this month) and I am asking for help!!!!

If anyone can help I would be most grateful as it would

devastate the kids we have if I lost the house!!!!

redcarpetkids.chipin.com/foster-kid-houses

Please follow this link