Archive for the ‘Dear Infotube’ Category
3 Ways to Cut or Eliminate Real Estate Closing Costs
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 Delivers the Inside Scoop about Real Estate
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.
Say “NO” to Megabanks. Move Your Money,Today!!
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.
Snooping Real Estate Agent Caught on Camera
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 (:
InfoTube.net on Facebook and Twitter
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.
To All Animal Lovers
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.
Don’t Take Your Home Off the Market During the Holidays
I’m thinking Turkey. The leaves have fallen, lawn mowers are stored and furnaces are in use. It’s at this time of year that many of our customer’s ask… “Should We Take Our Home Off the Market During the Holidays?”
The answer is definitely ”NO”. There are a lot of reasons to keep your home listed right through the New Year. And, there’s a special timely reason this holiday season!!
- The First Time Buyers Tax Credit has been extended until April 30, 2010 AND it’s been expanded. Step Up Home Buyers, who make a lot of money, can also receive $6500 in Tax Credits until April. Big tax incentives mean that smart buyers will be house shopping vs mall shopping this holiday season.
- Interest Rates are at Record Lows. 30 year fixed rate mortgages are below 5 percent. But, with the dollar weak and falling, low rates may not be around for long. Serious home buyers are aware of the difference that even a small interest rate increase would make in their house payment. The combo of Tax Credits and Low Interest Rates create strong urgency among buyer’s. Smart seller’s spruce up their homes and play into the pressure.
- Holiday Shoppers are Serious Buyers. Trust me. Everyone of us loves the holidays. So, the people who are out looking for homes in November, December and January are SERIOUS Buyers. Do you really want to pull your house off the market when the most serious people are shopping?? Think about it and gear up!!
- Less Competition. Many sellers don’t read our blog. They foolishly pull their homes from the market during the holidays, and this year will be no exception. Less competition and MLS exposure could make the difference between For Sale and Sold, this Christmas.
- Houses are Pretty during the Holidays. Staging your home is easy during the holidays. The mood is festive. Holiday colors are warm and inviting. Candles, centerpieces and decorations touch the heart and convey a peaceful lifestyle. Light the candles, make a roaring fire, bake some goodies and turn on some relaxing holiday music. Buyer’s love to see a home decorated and looking special. Don’t let this once a year opportunity pass you by.
- Curb Appeal. If your landscape and lawn isn’t that great, breathe a sigh of relief that no one else’s is this time of year, either. Add seasonal color, a wreath, perhaps some decorations. Just keep it subtle and classy. No mowing, no weeding and trimming, and best of all snow covers all…
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Home Buyer Tax Credit Extended.
Great news for home buyers, sellers and owners, alike. The homebuyer tax credit has been expanded to include step up buyers, who have owned a home for 5 years. It also extends the tax credit through the end of 2010.
GREAT NEWS!
It appears that Senate Democrats have recognized the tremendous value of the First Time Homebuyers Tax Credit and odds are it will be renewed soon. At this time, it is believed that the credit will allow anyone purchasing a home, by April 30, 2010, to participate and receive the full credit available.
The credit will continue until the end of 2010, but the amount of tax credit will drop by 2 percent every 90 days. The graduated benefit should help the housing market recover into and through the 2010 summer selling season.
Here is the text of the story as reported in Bloomberg News today:
Senate Democrats on Board with Credit Extension
Senate Banking Committee Chairman Chris Dodd (D-Conn.) says Senate Democrats have agreed to extend the first-time home buyer tax credit. The latest version extends the program to home sales signed not closed by April 30. Purchasers would have another 60 days to close the sale. The credit will also be expanded to include so-called step-up buyers who have lived in their current home for at least five years.
The credit would be cut slightly to a $7,290 cap. Income eligibility for first-time home buyers would stay the same, but it would rise for step-up buyers to $125,000 for individuals and $250,000 for couples.
Source: Bloomberg News, Dawn Kopecki and Ryan Donmoyer (10/27/2009)
What Happens when Apartment Co-op Owner Dies?
Dear InfoTube,
My Uncle, who owned a unit in a co-op apartment building, passed away recently. If the heirs decide they do not want to sell the unit, will they be allowed to stay there part time? Or, can they chose to live in the apartment if they wanted to?
Dear Niece,
Unfortunately, the answer to both of your questions is No. Under all proprietary leases, occupancy is limited to the shareholder, only. If a shareholder is deceased, no other person can live in the apartment without the consent of the co-op. When your Uncle was alive, he could ask family members and guests to stay in the apartment, but only if he was there, too.
If you decide to keep the apartment, the new shareholder of record will need approval from the co-op board before they occupy the unit. Even for a week or two.
Thank you for visiting InfoTube.net FREE homes for sale and lease website. We have been in the business of connecting buyer’s and seller’s since 1989. We can help you, too.
How to Handle a Low Appraisal
Low Appraisals and Appraisal problems are causing a lot of headaches for sellers, buyers and agents. For a look at one customer’s problem with an appraisal and some practical solutions to solve the matter, CLICK HERE.
Thank you for visiting InfoTube.net. We invite you to place a Free Property Listing or Search for some great deals on our site. We have listings seen no where else and we have NO dead links or come on ad’s.
Should You Use List Prices or Sales Data when Pricing Your Home?
A frequent question we receive about correctly pricing a home is “Should we use Comparable Listing Prices or Comparable Sales Data to correctly price our home?”
The answer is overwhelming, Comparable Sales Data.
Looking at the prices of listed property is a big mistake, when determining the correct asking price for a home. Take a moment and think about it. If the neighbors list price was motivating, the property would be Sold, not Still for Sale.
Always use accurate a Comparable Market Analysis (CMA) to correctly price your home. A CMA features only properties that have sold for all cash or a funded loan. This is important because many properities aren’t appraising or closing for anything near their “under contract” price. In our declining market, a home that is worth $250,000 today, may only be worth $220,000, 60 days later when it closes. Appraisers are aware of this fact and generally appraise very conservatively these days.
Click here To Read more about Appraisal Problems and What you Can do About it.
To obtain accurate Sales data about competing properties in your neighborhood, visit your local county tax assessor website. Or, research MLS data which can be viewed at sites like zillow.com.
Thank you for visiting InfoTube.net. We are here to help you sell your home. Feel free to place a free property listing on our site or search for a great value on your dream home.
Is it Safe to Buy from Bankrupt Builder?
Dear InfoTube: My husband and I are considering the purchase of a townhome. We found a great unit, much larger than most for the money, but the builder has filed for bankruptcy. Also, the development is not entirely finished and it has a lot of unsold units.
We would like to take advantage of the $8000 tax credit and low interest rates, so we are in a hurry. Should we buy this unit? Your thoughts and expertise would be a big help.
Dear First Time Buyer: You don’t say where you live, but bankrupt builders are common in this market. The fact that the builder is insolvent doesn’t mean that the construction was sub-standard. But, it does mean you won’t have the builder backing up his work. Keep in mind that all warranties for appliances, roofing, flooring, etc. are backed by the manufacturer, not the builder, anyway, then make sure you have a very good home inspection before moving forward.
The issue of the unsold and unfinished development should probably be of more concern to you than construction or inspection problems. There are issues that you need to discuss before considering buying into a paritally vacant, multi-family development.
- How much do you want to live through?? Since the development is unfinished, it could take years before the project is completed. And, you will have to tolerate construction noise and dirt while the work is done.
- How long do you plan to live there? You need to be aware that prices may drop subtantially on the completed unsold units before everything is said and done. This means that you may lose your equity and owe more than the people who buy later for less money. Also, when the remaining new buildings are finished, you will face a lot of competition from new or newer units than the one you own. If you decide to buy here, make sure you can stay until everything is complete and the market has stabilized.
- What about the Homeowners Association? Unsold and vacant units mean that the association will need to cover their expenses. If the development is large and has ammenities such as pools, tennis courts, greenbelt area’s, etc. you may have only a few owners splitting the costs of insurance, maintenance and upkeep. This situation can dramatically raise dues beyond what most people are willing to pay. Verify the financial situation of the HOA and make sure you understand the by-laws before jumping into a situation with no real ceiling on future expenses.
I would offer you one piece of advise for any property you are considering, never buy a home because of tax incentives. Although the $8000 credit is very enticing, make sure you buy a home that is located in a good neighborhood and suits your families needs. Low interest rates, and the tax credit are strong motivators, but make sure you are buying the right home, in the right spot and at the right price.
Thank you for writing to InfoTube.net homes for sale and lease website. I hope I have answered some of your concerns and if you need more information, please let me know.
Creative Craftsmanship Equals Sweet Little Pad
Creative real estate or housing anyone??? A friend sent me an email with pictures of a very sweet little pad. I love this and wanted to share it.
Entry Way and Stair Case
Kitchen and Living Room
Master Bedroom
Master Bath with Walk in Shower
Doesn’t this home seem very modern? Perhaps, something you would see in a swanky highrise condo in a big city????
SURPRISE: HERE’S THE INCREDIBLE PART I LOVE
The one bedroom, one bath loft apartment was built inside a 1940’s grain silo.
The old grain silo was recycled into this upscale apartment, after it was purchased and relocated to the grounds of the Homestead Inn, located in New Braunfels, TX in 2007.
If this isn’t an example of creative craftmanship, I don’t know what is. Love those Texan’s!!!
Thank you, Pat for forwarding this wonderful property information to me. Hopefully, it will encourage others to think “out of the box” when it comes to creating affordable housing and perserving our resources.
Thank you for visiting InfoTube.net homes for sale website. Feel free to place a free property listing, or search our database for thousands of great deals on real estate from coast-to-coast.
If you know of a unique or smart piece of property, please send us the details and pictures. Our readers love real estate and we love sharing the resourceful and creative spirit of the American people with our readers.
Stop AIG from Giving Themselves $450 Million in Bonuses
Dear Home Owner, Home Buyer and InfoTube customer:
If you had to find one single group of people to blame for our economic crisis, you’d definitely have to consider the financial products division of AIG.
They made huge, bad bets on the housing market that have cost taxpayers $170 billion…so far.1
But get this: The Washington Post just reported that these people are receiving $450 million in bonuses—and they got their first installment on Sunday.2 They destroyed our economy, and now they’re being rewarded for it with our bailout money!
President Obama has instructed Treasury Secretary Geithner to use “every single legal avenue to block these bonuses and make the American taxpayers whole.” But AIG isn’t budging—they claim that even after hundreds of billions of dollars and a direct request from the President, their “hands are tied.”
We need to turn up the heat.
Tomorrow, AIG’s executives are appearing before a House subcommittee, and we’ve got a chance to give them a piece of our minds.
Can you sign our petition and submit a question for the heads of AIG? Or better yet, an idea for how we should get our money back? If you do before 5 p.m. ET today, we’ll make sure it gets to the committee in time for tomorrow’s hearing.
Click HERE to add your name and submit your comment. Thank you for participating. It is our money!!!!
Thank you for visiting InfoTube.net homes for sale website. Please feel free to search our database for thousands of great deals on homes for sale and rent.
Home Inspection Finds Roof was Improperly Installed.
Dear InfoTube,
We are under contract to purchase a brand new home that is ideal for our family. Unfortunately, the home inspection revealed that the brand, new roof was improperly installed. It seems that the builder did not use felt, drip edge or flashing before he installed the shingles. The shingles were nailed directly to the plywood decking. The inspector also noted that many of the nails were set too deeply, which caused depressions into the asphalt material and would likely cause roof leaks.
After discussing our findings with the builder, he admitted that he knew about the missing roof materials, but he refused to replace the new roof due to the cost. The builder insists that the missing materials are unessential and pose no problem for us. He also gave us his personal guarantee that he would fix any problems that might come up in the future, if we would go ahead with the purchase.
We are now faced with a huge dilemma. First of all, we love the location, floorplan and lot. The house is just perfect for our needs. Secondly, we have invested nearly $1500 for the inspection, appraisal, loan application fee, etc., which we would lose if we back out of the sale. We would really appreciate your input about this situation. We love the house, but the roof problem scares us, even with the builder’s promises. We are scheduled to close and move in a couple of weeks. Please give us your opinion about what we should do.
Thank you, T Thornton, NC
Dear T Thornton,
Let me reassure you that drip edge, felt and flashing are essential parts of a roof system and improper installation voids any manufacturer’s warranty. Furthermore, it is very unlikely that your lender would give you a loan for this property, once they discovered the problem.
Secondly, I found myself asking“What kind of seller would “cheat” on a new roof and what else is he hiding?” A new roof is a strange thing for a builder to cheat on. The roof is a basic structural system of a home. In addition, it is huge and highly visable to the eye. It is very concerning, to say the least, that the seller knew about this problem and lied to cover it up. One has to wonder what else has he cheated on and lied about, that might not be as easy to see as the short cuts he took on the roof?
This situation poses a serious problem for you, the lender and the seller on many levels. First, the builder’s non-disclosure of the known problem with the roof could likely be considered fraud. Secondly, his guarantee to fix future problems is unenforcable in a court of law. Contracts for the “promise” of future services, which is what this seller offered you, is illegal in all 50 states. Think about it. If this seller becomes disabled, leaves the area, goes broke, dies, etc., how could he possibly honor his promise to you, even if he wanted to?
My honest opinion is that you should RUN, not walk, from this deal. Instead of being disappointed, you should be very thankful that you had a good home inspection that revealed the truth before you closed. The good news is that the inventory of unsold homes are at historical high levels. This means you should find plenty of homes, owned by honest sellers, that suit your families needs. Given the seller’s blatant dishonesty, you should insist that the builder refund your earnest money, buy your appraisal and reimburse you for the inspection report. If he hesitates or refuses to do so, you should consult an attorney, immediately.
If you have your heart set on buying this home, you should know that you are taking a big chance. At the very least, you should at insist that the builder install a new roof. You are paying a premium to buy a new home, so you should receive a new roof, not one with known problems. You should also insist that the builder transfer all manufacturer’s warranties for the roof, and all other systems in the house, to you at closing.
Thank you for writing to InfoTube.net. I hope everything works out for you, but I seriously hope you walk away from this one. Everything about this home may appear pretty on the outside, but one would be foolish to not fear what kind of ugliness may be lurking beneath the surface.