Check These Out

If you know where to look, you can drastically cut or eliminate real estate closing costs.     On average, closing can run from  3-6 percent of the purchase price of your home.   But we know 3 ways to stop the pain…

  • 1.  Ask the Seller to Pay Them.  Most lenders allow the seller to contribute up to 6 percent of the purchase price toward the buyers closing costs.  For buyers who are short on upfront cash, it may make sense to offer the seller more money for the property, but ask that they pay for the closing.  (Bonus:  Mortgage points are tax deductible, even if the Seller pays them.
  • 2.  Shop Loans.  Loan fee’s vary drastically, so plan to shop and negotiate.  Ask 3-4 lenders for their best rate (without points) and an estimate of their fee’s.  Submit a loan application with the lender that is offering the best deal and carefully read the good-faith estimate they provide.
  • 3.  Buy Cheaper Title Insurance.  Title insurance is required by all lenders and protects against disputes or challenges to ownership.   Keep in mind that it is insurance, so as much as 80 percent of the premium will be paid to the agent as a commission.  Shop for cheaper title insurance with companies like EnTitle Direct, which charge less for insurance by eliminating the middleman.

Thank you for visiting InfoTube.net homes for Sale and Rent FREE website.  The Fed left rates unchanged today.  Let’s Celebrate!!

InfoTube has been showing homebuyers the beauty of what’s inside since 1988.     And, it’s made 100 percent in the USA!   Seller’s, what’s not to Love????

If you love fun tidbits about real estate…check out InfoTube.net for Real Estate Facebook Page.  Post Before and After Pictures, Ask a Question, Brag about a Genius Real Estate Deal, Check out Your Agent…Become a Fan Today.

New Program Pays Owners to Sell for a Loss

Monday, March 8, 2010
posted by Tommi Crow

With more than 5 million households currently behind on their mortgages, the Obama adminstration is rolling out a new program to encourage lenders to accept a short sale.   A short sale is one in which a property is sold for less than the outstanding mortgage owed to the lender.   The administration hopes the program will prevent more foreclosures, which further depress property values and harm good neighborhoods.

The  program, which takes effect April 5, 2010,  pays lenders and borrowers to complete a short sale.   Key points of the program are as follows.

  • 1.  The program compels lenders to accept a short sale offer and forgive the difference they are owed between the market value and the outstanding mortgage balance. 
  • 2.  The lender will receive $1000 for every short sale they participate in.
  • 3.  The program encourages millions of borrowers to get serious about getting rid of their homes.  It  pays homeowners $1500 in walking away cash for finding buyer for their property and closing the sale.
  • 4.  The lender will utilize real estate agents to determine the present market value for a home.  That value will set the minimum acceptable price.   The estimated value will not be shared with the homeowner.  If an offer is submitted that is equal to or higher than the estimated value, the lender MUST take it.

Pro’s and Con’s

  • 1.  For the investment pools which own most of the home loans, there is the hope of getting more money from a short sale than a foreclosure proceeding.
  • 2.  For the lender, $1000 will help offset the labor intensive short sale process.
  • 3.  For the borrower, their credit will suffer less damage.  They have the lenders assurance that they won’t be sued down the line for their unpaid balance.  And, they get $15oo to assist with their relocation.
  • 4.  For the community, short sales mean fewer empty houses sitting around waiting for the bank sale.  It is estimated as many as half of all vacant properties are ransacked, neglected, vandalized and depress the value of neighboring homes.
  • 5.  The downside is that short sales are “tailor made” for fraud.  House values are inherently subjective, which provides a wide latitude for potential conflicts.
  • 6.  Another problem is that bankers hate the very idea of accepting an offer short of what they are owed.  By nature, they don’t want to sell anything at a discount.  If they loan $200,000 …they expect to be repaid $200,000, not $150,000.

Thank you for visiting InfoTube.net your FREE homes for sale and rent website.  Search our listings in complete privacy or place a home ad for FREE.  We also provide Free Legal Forms, Sales and Marketing Advice, Flat Fee MLS and Realtor.com listings and More….

If you are one of the millions of Americans who are outraged by the unrepentant behavior of the “too big to fail” banks, please consider moving your money to a local, community bank.   These arrogant, “Walmarts of Banking” have continued to reward themselves with huge bonuses, expensive trips, parties, private jets and fancy offices at the expense of working people.   And, to add insult to injury, these banking shysters are spending millions of  tax dollars to lobby Congress, solely to prevent financial reform that might protect us from paying for their fraud and financial fiasco’s in the future.  

HAVE WE HAD ENOUGH, ALREADY???

Forget about the politicans in Washington DC, they don’t really work for us and we don’t need them to make our position clear.   Americans can simply move their checking or savings accounts from the Wall Street “bailout” behemoths such as Citibank, Bank of America and Wachovia to their local, community bank or credit unions.  And, switching  banks is not a lot of trouble.  If you want to read over a checklist before you start, go to the moveyourmoney.info website for tips and helpful information. 

Millions of taxpayers and outraged citizens have already moved their money.  They’ve had enough and they’re not taking it anymore.   The bonus… even though it surprised many people who made the change, the rewards for switching to a local bank are huge   All banks, large and small, now offer Debit and Credit cards, ATM’s and Online banking.    But, the big banks can not match small banks in terms of service.  Local banks offer lower fee’s, higher interest rates on deposits, personalized service focused on the local community and perhaps best of all, you can speak face to face with someone you know, who can make a decision for the bank.   What’s not to LOVE????

Crow Erickson, Inc., parent company of InfoTube.net, puts our money where our mouth is.  We conduct all our business at a local, community bank and we hope every hard working American follows our lead.  Are you Tired of Feeling Helpless??   Do you Want Change Really???   You have the power, this time!  Move ALL Your Money from the Megabanks today.  Action is the only change Wall Street understands.

I have been hearing real estate agents chatter about homes with Mother-in-Law Rooms or Suites these days.   It seems a lot of home buyers are interested in accomodating more than one generation of their family in their home.   When I inquired about the trend…this is what I learned.

  • Nearly 40 percent of buyers sited financial reasons as the motivation for co-habitation
  • A third of the buyers who were looking for an “in law” friendly floorplan cited care issues.
  • Only 6 percent said a strong family bond was the reason they were living with family.

InfoTube.net offers some Tips for Buyers and Sellers regarding the “In Law” suite Trend

  • Everyone involved in the purchase should talk frankly about sharing rooms, bathrooms and common area’s, such as kitchens and family rooms.
  • Sellers with rooms or places to accomodate multi-generational living should definitely highlight and play up that aspect of their home.
  • Buyers will be very clear about their needs and are willing to pay for extras.  Extra bedrooms, bathrooms or even plumbing roughed in for an extra bath will be important.  Luxury ammenities such as separate kitchens, entrances, handicapped accessibility, one level living or a free standing additional building on the property are most sought after.

Thank you for visiting InfoTube.net homes for sale and rent website.  Search our listings for thousands of deals found no where else on the web.

Snooping Real Estate Agent Caught on Camera

Wednesday, February 24, 2010
posted by Tommi Crow

ATLANTA — When real estate agents representing buyers show your home, should they be allowed to examine private or confidential papers? How would you react if you caught them doing just that?

 Channel 2’s Tom Regan talked with one home seller who was shocked by what he caught on camera in his home. David Scitthelm owned a beautiful home in Buckhead. He was proud to put it up for sale, but he wasn’t pleased with the conduct of the two real estate agents who arrived to show the house. 

To Learn More or Watch the Short Video, CLICK HERE

Commentary:  Infotube.net  ALWAYS advises that home sellers  hide or pack away anything that is private or could be used against them in a negotiation.   And, private mail and legal notice issues aside…did you see how this agent hunted for books, stereo equipment, family photographs, collections, etc. to gain personal knowledge about the sellers?   Hopefully this story plainly illustrates to homesellers the importance of packing up all personal items BEFORE they put their home on the market.  Added Bonus:  A staged home always shows better and appeals to a wider audience, too.  

P.S.  And, don’t forget your medicine cabinet (:

Cheap Fast Update for Bathroom Mirror

Tuesday, February 23, 2010
posted by Tommi Crow

If you have one large mirror over your bathroom sink or vanity and you would like an updated fresh look…we have an easy, do-it-yourself trick that won’t cost you an arm and leg.

Before……

After…..

1.  Measure your mirror, then purchase a molding you like at the hardware store.  Some stores will even cut it for you.

2.  Stain the molding to match the woodwork in your bathroom.

3.  Apply glue to molding, then stick it to the mirror. 

Thank you for visiting InfoTube.net free homes for sale and rent website.   At InfoTube.net you can place your property listing on the site, search for your dream home, advertise your home on the MLS, print brochures for your InfoTube or InfoBox or print free legal forms.

The real estate crash has obliterated home prices and forced millions of people into foreclosure and bankrupty… but as we have been reporting over the last few weeks…we see big signs that the worst is behind us.  

New home starts are up 36 percent, factory and industrial output is up, job loss has slowed from 700,000 job losses last January to only 20,000 January 2010.  If you need more proof…the Fed just increased the discount lending rate it charges banks for the first time in years.   If they didn’t think the economy was heating up…they would have never raised rates.  And, we think they know something about an improving  job market that they’re keeping to themselves for now…

So, what cities will come out of the crash the fastest?  Where can you invest and look like a Warren Buffett investor in 5 years?  Here are 10 cities where Moody’s and the New York Post think you can put your money to work now.

1. Memphis, TN

2.  Salinas, CA

3.  Medford, OR

4.  Washington DC and surrounding areas

5.  Mobile, AL

6.  Las Cruces, NM

7.  Fayetteville, NC

8.  Phoenix, AZ

9.  Fort Worth.Arlington, TX

10. Cincinnati, OH

To read the complete article, with detailed explanation for the picks… CLICK HERE!!!

Thank you for visiting InfoTube.net homes for sale and rent website.   If you haven’t checked out our Facebook Fan Page or our Twitter account, please do.  We post informative and FUNNY stuff about all things real estate.

Finished Building Lots. The Next Boom.

Tuesday, February 16, 2010
posted by Tommi Crow

Are you one of the millions of people looking for the next boom in real estate?   If so, you might want to consider abandoned subdivisions.  Savvy investment groups and individuals have been snapping up finished building lots like candy.  

Why?   There are so many incomplete developments for sale, that finished building lots are being dumped onto the market at 50 cents or less on the dollar.   Small builders or investors, who have the time to hunt down smaller projects, or buy the fill in lots that don’t interest big investors, are doing even better.  They report buying quality building lots at 20 – 30 cents on the dollar.

The Law of Supply and Demand.  

Supply:  The two to three year supply of unsold building lots has stopped developers from investing in more land, finishing projects or starting new ones.   

Demand:  The United Stated needs 1.2 million new homes for the next 10 years, just to keep pace with population growth.  During the past few years, builders have constructed only 500,000-600,000 homes per year, or less than half the amount needed to keep pace.    When housing demand rises, the need for finished lots will be painfully obvious and builders will pay a premium to get their hands on them.

Investment in building lots was significant by the end of 2009.  Before you jump in and invest in a vacant building lot, make sure your expectations are reasonable.   Other than the Golden Rule…Location, Location, Location…, keep in mind, generally, land can not be flipped.  Plan to hold on to the property for a minimum of one year and up to three.  If you are considering unfinished lots, plan to wait a minimum of three to four years before ringing the register.

MORE…..Check back with us tomorrow.  We’ll tell you how to spot a good price for a lot and buy below the finishing costs!

Thank you for visiting InfoTube.net, a FREE website for real estate.  Search thousands of listings for great deals or put your property on the site today.

InfoTube.net on Facebook and Twitter

Friday, February 12, 2010
posted by Tommi Crow

InfoTube.net announced some recent updates to it’s website that make it easier for homeowners to share information and property details on the internet.

Share Your Property Information with One Click

InfoTube.net has provided a direct “Share” link on every home listing.  The “Share” link automatically feeds your property listing to all major sharing websites such as Facebook, Twitter, MySpace, etc.  If you use social networking or RSS feed websites, simply select where you want your property listing posted and click.  It’s that easy.  (The Share Link can be located under the “Email Seller” link on every home listing.)

Sellers and Buyers Communicate, Learn and Get Advise

InfoTube.net for Real Estate has an Offical Facebook and Twitter page where you can post pictures, questions, idea’s or funny real estate stuff you want to share.  Become a Fan and Contributor Today. 

Thank you for visiting InfoTube.net for Real Estate.  We hope you like the new improvements.  If you don’t already have a FREE property listing on InfoTube.net, post one today, you’re missing buyers.

Cut Real Estate Fee’s and Foreclosures

Tuesday, February 9, 2010
posted by Tommi Crow

Cut foreclosures by slicing real estate fees

Al Lewis

Tuesday, February 2, 2010

President Obama has often said that it would be a shame to waste this economic crisis. Nowhere is that more true than in residential real estate. Federal home-buyer tax credits up to $8,000 designed to increase home sales and reduce foreclosures are having little impact. Sales of existing homes fell a record 17 percent in December, while foreclosure petitions are rising. Instead, let’s use this crisis to try a new approach: permanently slashing the 6 percent real estate brokerage commissions prevalent in most markets.

Unlike commissions paid for buying cars, stocks or insurance, these hidden commissions include two payouts – about 3 percent each to the seller’s broker and the buyer’s broker. But there’s no need for two brokers in real estate transactions. These hidden fees survive only because real estate brokerage is a cartel. Forty years ago, you needed one broker to buy a house – today you need two. In law and medicine, fee splitting is illegal. In real estate, it is required.

Most people would not hire commissioned brokers if they had to pay for them directly – that’s why the brokerage industry wants them hidden. So let’s eliminate hidden fees for the buyer’s broker. We could then drop the homeowner tax credit, since the buyer is saving three grand, and replace it with a $1,000 incentive credit. This cash bonus would go only to home buyers whose purchase prices include a total commission of 3 percent or less (or none at all).

The selling brokers will naturally complain: “We can’t afford to split a 3 percent commission with the buyer’s broker. That’s how much we need to make ourselves. So buyers will have to make their own arrangements if they want assistance.”

And that is exactly the point: Instead of allowing the 3 percent commission to be hidden in the sales price, this tax incentive would encourage home buyers to pay openly for whatever level of assistance they want, if any. Given those other options and the chance to collect $1,000, few buyers would opt to pay a 3 percent out-of-pocket commission – about $15,000 on a median-priced Bay Area home. Faced with the prospect of paying that bill explicitly, most Internet-savvy buyers would probably opt for personal advice just a few times during the home-buying process, and pay by the hour or by the showing.

Even with only $1,000 of tax credit, these buyers will be better off financially than first-time buyers who collect a hefty home buyer credit, but who still pay hidden commissions. And taxpayers are better off, too. Any buyer could still opt to pay the traditional commission at closing – but would have to forgo the incentive credit.

This temporary incentive credit could permanently alter the structure of real estate brokerage, because there would be no going back once the credit expires. As happened when stock commissions were allowed to decline, much lower transaction costs would create more transactions and hence more liquidity. Liquid markets will allow people to sell houses more easily before they go “underwater,” thus reducing foreclosures.

Of course the real estate brokerage industry, which has strongly endorsed home buyer tax credits, will oppose this incentive credit. Fortunately, an equally powerful coalition of builders, bankers, mortgage brokers and consumer advocates will be lined up supporting it.

Much lower transaction costs would not just reduce foreclosures by facilitating transactions, but would also increase people’s net equity in their existing homes. Homeowners would be better off and, at least in real estate, this economic crisis would not be wasted.

Al Lewis is author of “OOBonomics: 12 ‘Outside Of the box’ Ideas to Improve the Economy.”

http://sfgate.com/cgi-bin/article.cgi?f=/c/a/2010/02/02/ED4C1BP3O5.DTL

This article appeared on page A – 10 of the San Francisco Chronicle

Thank you for visiting InfoTube.net.  Place a Free Home Listing.  Download Free Legal Forms. Search over 20,000 Listings.  $399 MLS Listings

Get Down Payment Help

Monday, February 8, 2010
posted by Tommi Crow

Home buyers who are a little short of cash can receive down payment assistance from their local and Federal government.  Many city, county and state programs piggy back on the Federal down payment assistance programs.

For information about the help that is available in your area, search for “down payment assistance programs” and include the name of your region of the country.   Also, check the HUD website which is providing a Neighborhood Stabilization Program.

Thank you for visiting InfoTube.net a FREE homes for sale and rent website.  Search our 20,000 listings for great deals!!

To All Animal Lovers

Tuesday, February 2, 2010
posted by Tommi Crow

InfoTube has a very simple request for animal lovers.  Please go to the Animal Rescue Website and Click on the Purple Box that reads… “Fund Food for Animals for Free”.

The Animal Rescue website needs daily clicks to meet their quota for providing FREE FOOD for neglected and abused animals.  Their corporate sponsors use the number of daily visits to donate food in exchange for their advertising.

Clicking the link takes only 15 seconds and doesn’t cost you one thing!!  Please do it today and everyday.  And, please tell your friends.  It’s a great way to make a difference with no strings attached!!

Thank you for visiting InfoTube.net a FREE homes for sale and rent website, that also has no strings attached.  Feel free to post your property listing or search for over 20,000 great deals on homes with complete privacy.

Fannie Mae giving Cash Back to Buyers

Monday, February 1, 2010
posted by Tommi Crow

Fannie Mae will pay buyers up to 3.5 percent in cash to use toward their closing costs or for purchase of applicances. Sale must close by May 1, 2010

The Truth about Being a Landlord

Tuesday, January 19, 2010
posted by Tommi Crow

      The real estate crash has created new interest about property management and the work involved in becoming a landlord.  Some people feel they have been cornered into the landlord role, because they have been unable to unload property they already own.  Others are considering buying and renting property as an investment, since home prices and money are cheap.

Before you consider investing your savings in real estate, ask yourself why you’re doing so.  Do you think that landlords get rich off rental income?  Do you expect home prices to suddenly rebound?  Do you expect to flip your investment for big profit, like some did 4 or 5 years ago??  If this is what you’re thinking, you might need to think again. 

Myth #1: Real Estate can Make You Rich:  We’ve all heard the late night commercials and multi-level marketing groups that make their money by selling the keys to making riches in real estate.  Don’t buy into it.  Unless you’ve owned a property for many years, or you found the deal of a lifetime, you should know that rarely does the rental income cover expenses.  In other words, rental property will cost you money, not make it.  When the market was soaring higher, landlords could justify losing money every year on rent, because they saw their property values grow.  In 2010, it will be very difficult to make renting a profitable venture.

Myth #2:  Rents Above Base Costs = Profit:  Calculating potential profit from rentals is not at all that simple.  An investor needs to be sure to calculate all the real expenses of owning property. 

Hidden Expenses.  If you have a loan, you’ll pay interest so figure that in.  Property taxes on real estate are already high and expected to go higher.  If future tax increases exceed the probability of rent increases, you lose even more.  Landlords also need a personal liability insurance umbrella, in addition to insurance coverage for the structure itself.   Landlords should count on having a one month vacancy (no renter) per year, as leases expire.  In addition, you’ll need to budget for the advertising, signage, etc needed to attract a new tenant.  Don’t forget to add in the cost of accounting and filing tax returns on rental properties. 

Don’t forget about Repairs and Maintenance.  They will vary depending on the age and condition of the property, but even if you buy brand new, the best tenants will cause normal wear and tear.  In addition, all property needs to be updated and maintained regularly.  If you don’t have the skills or the time, budget in repair costs plus the labor. 

Utilities and ground care can also eat away at potential earnings.  If the property is separately metered, the tenant pays the utilities.  If not, the landlord pays.  Unless the property is a single family home, the landlord will always pay for sewer and water, at a minimum.

Myth #3:  The Cost of Opportunity:  The Costs of Lost opportunity to be more precise.  If you invest your savings in a piece of rental property, then you can’t invest it in stocks, bonds or other financial instruments.   It is important for investors to know what their money can earn, in order to decide the best place to put their cash.   And, remember that real estate is not liquid, like equities and other investments.  You can’t dump a bad real estate investment, or cash in your profits, with a call or click of your mouse, like you can other investment vehicles.  Remember that just to sell a piece of investment property can take months or years, and fee’s to sell will generally erase 10-12 percent of the sales price.

Myth #4:  Fat Cat Landlords Sit While Cash Rolls in:  Being a landlord may look like a “cushie” job, but nothing could be further from the truth.  Landlords are responsible to their tenants and the law.  Owning any property, even one you occupy, requires constant attention and upkeep.   Unless you own over 10 units, you probably can’t justify the cost of a property manager to oversee finding and screening tenants, enforcement of leases, collecting and accounting for monthly rentals or handling evictions.  In addition, all landlords should be willing to accept late night phone calls or vacation interuptions for flooding, broken down heat or AC, leaking roofs, etc.  If that scene doesn’t sound appealing to you, or you’re not very handy, then becoming a landlord probably isn’t a job you will like.   

Conclusion:  Real estate is a high maintenance investment vehicle.   It is also one that is very expensive and time consuming to get rid of, if you don’t like it.   So, if you are considering becoming a landlord for any reason, make sure you calculate all the costs, time and trouble, before you jump in.

Thank you for visiting InfoTube.net …a FREE homes for sale and rent website for owners, builders and investors.  We have over 20,000 properties listed on the site and more are added daily.  Keep checking in for the freshest listings on the web.