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BALANCE

06 25 2009

BALANCE

Qingdao, China

 

This image is one of many I took on our Semester at Sea voyage around the world.  It is of a Tai Chi demonstration in Qingdao, China.  Also spelled Tsingtao (pronounced ChingDow although China is still pronounced China…).  You may also have seen that name on a beer bottle at your favorite Chinese restaurant.  The Tsingtao brewery is located there and the tour is really pretty fun but that’s another story.  Qingdao resides on China’s coast facing the Yellow Sea.  It’s a wonderful and vibrant seaport.  The people are welcoming and friendly, always interested in practicing their English skills.  As an avid traveler I believe it’s important to try and add some of the local language to your repertoire; I added, “neehow” = hello and “shyeh shyeh” = thank you.

 

This particular morning I awoke very early to join in a Tai Chi demonstration at the downtown plaza.  We learned some moves from Tai Chi masters and then watched as they performed a demonstration that was not only physically amazing but visually stimulating.  During the demonstration I was interviewed by the local television station.  I’m not sure they understood what I was saying but through my smiles and a big “thumbs up” they seemed to appreciate that I was enjoying my time in China.

 

I hope you liked this little excerpt from my travels and will check in often for helpful real estate information. 

 

Next month we look at Burma.  Shyeh shyeh!

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Looking for Deals in Foreclosures & Short Sales?

02 27 2009
STOCKTON, CA - APRIL 29:  A foreclosure sign s...
Image by Getty Images via Daylife

Lots of people are looking for deals right now. I’ve had many people inquire about short sales and foreclosures.  Can you get a good deal with these types of sales…short answer is sometimes.  The caveat is that they are not for everyone, you will need to make sure you understand the differences between them and see if it is a road you are financially able to travel.

Here is a summary of what you can expect with those type of transactions.

1) Foreclosures – actual foreclosures are auctioned on the courthouse steps and you will need to pay cash for these.

  • Bank Owned Foreclosures – these are foreclosures that did not sell on the courthouse steps and are placed back on the market by the bank.  You can purchase these using a loan.

2) Short Sales – these are houses where people have missed a couple of payments and are in financial jeopardy.  You can also use a loan to purchase these.  Not always a bargain but worth a go.

  • Caveats include:
    i. Extended period to close the transaction. Between 3-6 months.
    ii. Banks are slow to respond with an answer as to whether your offer is accepted or not
    iii. Bank may entertain multiple offers at one time.  This means you may have a long wait before you know whether your offer was actually accepted AND a very short time to have the property inspected prior to close.

3) Standard Seller Listing – often times you can get a better deal by working through an agent to purchase a home that is not in one of the above distressed property types.  The seller may be motivated to sell for a number of reasons that don’t have to do with his/her financials, i.e. job move, marital status, etc.

Now you have a basic understanding of what to expect when you are looking for that special deal.  If you have any questions give me a call and I’d be glad you give you more indepth information.

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Selling Your House Because of Divorce

02 23 2009

Statistics from the mainstream media say that 50% of all marriages end in divorce.  The only comforting thing about this statistic is that if you are one of the 50% you are not alone.  It can be a very emotional and trying time.  If there is one place where cooler heads need to prevail it is over the division of assets.  Otherwise, it can push both parties into damaging financial consequences that could take years to repair.

Here are some tips about dealing with the sale of your house during a divorce:

1)      What to do with the house

  • Keep it: one party buys out the other and keeps the home.  Decide if it is beneficially feasible to keep the house.  If you have the cash you may decide to buy your ex out.  If not, call a mortgage broker to find out about other financing options.
  • Sell it: both parties put the home up for sale and split the proceeds.  You will want to put the house on the market as soon as possible.  Especially if you are going to purchase another home.

2)      Selling the house - You want this transaction to go as quickly and smoothly as possible so that you can move on with your life.  Dragging your heels on this will make it more difficult on both parties.

  • Do not sabotage the transaction - In some cases there is a power struggle and it begins with who chooses the Realtor.  The Realtor should be your neutral point and voice of reason for this transaction.  This should be a shared decision.  You both need to be willing to communicate with the Realtor (either together or separately) in order to have a successful transaction.  Once you have chosen a Realtor commit to working amicably throughout the transaction.  Any bickering can and will slow down the transaction and could chase away any prospective buyers.
  • Basic rules apply (see Selling Your Home Pt 1&2 in this blog)
  1. Choose a Realtor
  2. Price Correctly
  3. Declutter
  4. Clean
  5. Curb Appeal

Divorce is tough.  It is can be emotional, difficult and unpleasant.  People may have been hurt or chosen a different path.  It can also be an event that affords us the opportunity to conduct ourselves in a manner that shows respect for ourselves as well as understanding and compassion for our family and friends who may also be affected by this life change.  Consider putting this event behind you as fast and smoothly as possible so you can move on with your life.

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New 1st Time Home Buyer Credits

02 20 2009
Click on the above thumbnails to read and print information.
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Selling Your Home Part 2

02 19 2009

Selling your home can be an invasive process. You need to mentally prepare yourself for this. People will be coming into your home to see if it will fit their needs. You do not want to be there while they are walking around…believe me!

Also, it is important to change perspective during this process. As a seller you should try to think like a buyer. I would also suggest that a buyer think like a seller. At various times in our lives we will be either.

The following tips are things that will better prepare you for the selling process and help you get closer to selling your home and moving on with the next stage of your life.

1. Emotionally Separate from Your Home
Tell yourself, “This is not my home; it is just a house – I take my memories with me when I leave. It will be someone else’s house now.

o Make the mental shift to think of your home as a product to sell.
o Visualize a smooth transaction.
o Don’t look back.

2. Get a Storage Locker & De-Clutter
Get a storage locker and start moving excess items into it. Prospective buyers want to see the house not your stuff. Depersonalize as much as possible. This will give you a head start on your packing too!

Remove:
o Excess Furniture, could be crowding the room. Leave just enough to show the purpose of the room.
o Knickknacks, collectibles, etc.
o Clear countertops
o Family heirlooms, photographs. Buyers want to imagine their family here.

3. Remove What You Want To Keep
Anything that is attached to the home physically, including items that are planted in your yard are considered part of the home to be sold with the home. If there are personal items that you want to keep like window coverings, or light fixtures remove them and replace appropriately. If you just say that they do not come with the home some buyer will want them and this could compromise the transaction.

4. Make the Small Fixes
All the things that were on your “honey do” list before are even more important now that your house will be on the market. Do the easy fixes. You don’t want to be remembered as the house with the polka dot ceiling bathrooms.

o Patch holes
o Fix leaky faucets
o Paint hot pink rooms a neutral color
o Fix cracked tiles
o Replace light bulbs

5. Clean the House!
Remember what it’s like to go into a hotel room? Beds made, smells nice, clean towels. That’s a good image to keep in your mind about how to show your house.

o Air out the house. Odors will repel people faster than a dead rat on the doorstep.
o Dust furniture, duct vents, light fixtures and ceiling fans.
o Wash windows inside and out.
o No cobwebs.
o Clean out the refrigerator.
o Vacuum and wax floors.
o Keep the bathroom clean, hang fresh towels.
o Hang up fresh towels.

6. Keep Home Show Ready
Buyers will be in your home, looking in closets and cabinets. Be show ready.

This means:
o Beds made
o Closets neat
o Cabinets organized
o Dishes cleaned

7. Curb Appeal - Curb Appeal - Curb Appeal
The first thing a buyer sees is the outside of your house. If it doesn’t look good then they will rarely get out of the realtor’s car to see the inside. You want them to come inside!

o Sweep the sidewalks
o Keep the yard mowed
o Trim the bushes, trees
o Plant bright flowers
o Keep the sidewalks cleared.
o Mow the lawn.
o Paint if appropriate
o Remove “yard art”, toilet planters, old lady w/ bloomers, gnomes, etc.

Now you are ready to show off the house and have a better chance to sell it in a shorter period of time. A little elbow grease goes a long way. Good luck!

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