Re-ali-ty Real Estate From Your Neighborhood Realtor

They Actually Got It Right

2012-01-27T12:05:00.008-05:00

After being licensed for 18 years and active in 4 states I ventured to get my license in the State of New York. It has been quite the task as I am currently a resident in the State of Virginia and New York has no reciprocity with Virginia. I do hold a Broker's license so the process was a bit easier, I think, but still archaic.

When no reciprocity is in place you need to prove education and experience which again was not a problem. What I find the most interesting and the thing that New York State actually has right is asking me to prove who I am.

The State of NY issued me my paper license but instructed me to come into the DMV to have my picture taken or to provide it via email. I had to bring with me several pieces of identification to prove who I am. I am not a resident of the State of NY so there is no driver's license with a picture in place.

They took my picture and then I had to show them my birth certificate, my social security card, my U.S. passport, and my Virginia issued driver's license. They use a point system and each item had a value. These values need to add up to 6 points. The State will then issue my picture real estate license which I understand will look similar to a driver's license.

I think this is an excellent procedure. As much as this was a bit of a hassle for me it was one I do think it should be uniform across the United States. The buying and selling of real property is one of the largest transactions most people make in their lives.

If my Costco card has my picture identification at least my real estate license should also have my picture identification

Home Buyer Seminar - November 5, 2011 - 100 % Financing

2011-10-14T06:23:00.001-04:00

If you are a first time buyer or not I have the best in the business here to help you understand what is available for you!

Agenda

9:30 - Registration begins - come enjoy some great coffee and breakfast

10:00 - MBH Settlement Group - Attorney Joanna Silva will discuss what happens from contract to closing and in between

10:20 - BBT Mortgage - Loan Officer Kelly Wadsworth will discuss extensively 100% financing - yes 100% financing and you don't have to be a veteran to get it. She will also discuss FHA, VA and conventional financing. You have so many options not to be missed.

11:00 - Hulbert Home Inspections - Seth Hulbert will go over this very important part of the transaction what's wrong with the house! In depth explanation of what goes on during the inspection of your purchase.

12:00 - Bargain Boxes and Moving - They will talk about how to move without losing your mind!

There will be a Question and Answer session after each presentation. So come sit enjoy and get into that dream house before the Holidays we can do it together. Just summit your registration and I personally will save you a seat.

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Market is Down . . . Market is Up . . . . Market is Down . . . Market is Up . . .

2011-08-11T13:17:00.006-04:00

So this last week since Monday every day so far the news is chaotic to say the least. The market is up, the market is down, the market is up, oh no the market is way down and so it goes on and will continue due to not just our economic condition in our country but the world economic conditions also affect the stock market. My question is why are you watching this roller coaster. Are you having fun watching it? Probably not but there is a silver lining in all of this.

Yesterday the Fed announced that they would keep rates low and if you were watching the news media today prices might go through another correction depending on where you live as real estate is regional. What better time than now to buy? Well, let's see.

1. Homes are at the best pricing possible in several decades.

2. Your money will buy you more than ever before because today rates have dropped below 4%.

So my advice to all those just sitting on the fence and watching the roller coaster takes its free fall and then the climb back up to only take that fall again step away from the flat screen, computer, Droid or tablet and call your favorite realtor and start getting in the game of building your personal wealth and buy a home. The only person happy with you renting and doing nothing is your landlord. You see he owns what you rent.

So You Are Selling Your House . . . Why Do I Smell . . .

2011-08-04T08:46:00.011-04:00

Do I have your attention? These are words of advice to all homeowners thinking of selling please smell your home. Smell is such an important thing when selling your home.

Just recently I was showing in D.C. It was a lovely townhouse but then as the buyer and I walked up the stairs . . . THE SMELL . . . hit me . . . cat urine. That overwhelming odor of the ammonia when the box hasn't been cleaned. As we walked into the bedroom there it was the cat box and the mushy stale wet cat food. I have to give you the visual because this is how we see it when we walked in. It did not matter now how great it was we turned and left. So I felt compelled to talk about the unthinkable, the smell in your house.

Smell is a very conscience and sometimes subconscious entity that must be dealt with when selling your home. Smells can turn off buyers either because they are offensive, it can trigger good or bad memories, but more importantly it can cause the buyer to walk out the door and not even want to go back.

So when selling or thinking of selling look around and see what could cause any kind of smell. Your sweet cat, the cute dog, the rabbit and heaven help us all the weasel, can issue odors that will send even the most seasoned realtor running out the door. There are other things that cause smells. Example, we should not be able to smell what you had for dinner the night before.

The house needs to be cleaned, and in place in good order and smell free. Please also know that strategically placing deodorizers full of strawberry, flowery or any super scent will also send me running out the door. The first question that comes to my mind is what are you trying to hide? Now that I have voiced my opinion let me give you a few suggestions.

1. Get a friend or someone who will tell you the truth and have them walk through the house. Point of reference if they are not good housekeepers themselves they are not going to be a good point of reference.

2. Throw the garbage out, clean the litter box several times a day and GET RID OF THE FOOD ON THE FLOOR.

3. Give the dog a bath, clean his living area and again GET RID OF THE FOOD ON THE FLOOR.

4. Big offender is that smell in a basement after water has been there. Get a dehumidifier (make sure you empty it regularly), clean and find the source of water entry. Placing lime in crawlspaces helps to absorb the smell.

5. Call me I always give my sellers my honesty in order to sell their home and how to address smells. My cell 202-344-0045. I am a licensed Associate Broker in VA, MD, DC.

I have walked into plenty of fabulous homes to only have the buyer repelled by the smell. The other thing that occurs is you will see a low ball offer more often than not. That is if we can actually get the buyer to make an offer.

There are so many homes on the market and you must place your home in the best possible position so that you will be remembered because you have a great house and not because I remember that smell.

Buyer Beware

2011-05-16T10:23:00.011-04:00

I had a young couple this weekend all full of hope until . . .

The story begins on Wednesday when I had met the wife online via a babysitting website. We spoke via Skype and she realized I was a realtor. She asked if I could help and I said no problem. To my shock I actually found condos in their price range and we set a time to meet on Saturday. We found a lovely condo and the buyer handed me an approval letter from USAA.

Now I am no rookie, I have been selling real estate for 17 years. I read the letter and it was genuine they were approved with minor conditions. So we decided we would meet again on Sunday to look at some other condos and then decide. After speaking with the buyer on Saturday evening it was evident that they wanted one of the units they saw that day but we were going to look just the same.

We met again on Sunday morning at another condo and then they decided to write an offer on a unit they saw Saturday. As I started to explain the process now, I started going down the need for earnest money a blank look crossed his face. I am going to need earnest money. They would also have to be ready to pay for an appraisal. They buyer was confused when I asked as he was not told any of this by USAA.

So then he states that he is getting a VA loan and that it is 100%. I said yes it is but you have to put earnest money down otherwise the seller will not take you seriously. Also with the changes in mortgages all appraisals must be paid upfront by the buyer to the appraiser or lender. Any seller concessions paid will be refunded to you at the table but we still need these items. Again, none of this was mentioned by USAA. How could they not mention these items?

At my suggestion I referred them to a lender so that they could speak with another person regarding their mortgage. I went back to do my work and later touched base with the lender who also voiced his concerns regarding back ratios, etc. The question that kept coming back is how did USAA approve them?

In the end, they felt they were not ready to move forward and the buyer's wife was concerned I might get angry because she had taken my time. Never, I am actually relieved because I could see they were not ready for the responsibility that comes with homeownership. They made the right decision for themselves and that is all that matters. I hope that I changed the impression they have of realtors and that we are here to make a dream come true not to start another nightmare.

So here is the moral of the story work with a realtor first. Please realize we go through this process several times a month. We are here to help you reach that ultimate goal. The reason they were so uninformed is because they did not receive a Good Faith Estimate or a Schedule of Initial Fees. They should have consulted with a realtor first. Instead anyone they spoke to just was not interested because the price point was not high enough. Then get a referral so someone can help you.

Buyers, here are your steps in buying a home.

1. Have an initial consultation with a realtor. As a realtor we will refer you to reputable local lenders and guide you through the steps for finding a home, preparing an offer for a home and finally getting you to the closing table.

2. Call the lender and ask for an Initial Fee Sheet. This gives you an idea of the fees they charge. Once you decide on 2 lenders get a Good Faith Estimate from each. This locks them into what they are quoting you.

3. Any questions, consult your realtor so she/he can speak with your lender to get the particulars regarding your loan, parameters, guidelines, etc.

4. Find your home, write the offer

5. Offer accepted then back to your lender

6. Coordination between realtor, lender and buyer

7. Settlement

8. Get the keys and move in!

Any questions, please just ask or call me 202-344-0045 or visit my website www.TheNeighborhoodAgent.com

Esther Camarotte-Kelly
Associate Broker
Keller Williams Capital Properties

Happy New Year - 2011!

2010-12-31T20:09:00.021-05:00

So I write this post and it's a little after 8 pm on December 31, 2010. Change is something most people are afraid of. I am someone who actually embraces change with a vengeance. I have never feared change. A quote that I look to many times is "“The wise man in the storm prays to God, not for safety from danger, but deliverance from fear” Ralph Waldo Emerson. Change can invoke fear. That fear can sometimes creep into my psyche. I face fear head on and work through it always. This has made me the woman I am today personally and professionally.

My career choice took me down the path of real estate, who would have guessed if you had known me 30 years ago. Real estate is an interesting and ever changing industry and if you fear change than this is not the path for you. Everything in my world is constantly changing, from how we look up property, remember the days of 10 inch listing books, to how we show property, paperless contracts and electronic signatures to now we are placing QR Codes on our signs. (If anyone wants to know what a QR code is email me)

2010 has had many endings with many changes I professionally and personally made. I made an important career move from Long and Foster Realtors to Keller Williams Realty in August. I finally closed my brokerage, City Partners Realty in Atlanta, GA in October and now I end 2010 by deciding to move my personal residence. Big changes that would normally invoke fear of the unknown - the future. I welcome the changes it makes life interesting.

I spent the evening ending toxic things in my life and disengaging from negativity so that at the strike of midnight I am bringing in the New Year on a positive note. This year will not include the clink of a champagne glass out of choice because I am ending 2010 on my terms and beginning 2011 on my terms. I am happily saying goodbye to many things and hello to a brand new year 2011 and all the changes it will bring.

I meet many incredible people on this journey I call life. Many of these people are my clients and I love each one of them. Many of these clients after spending sometimes many months with me become personal friends and I have so many of these personal friends now they have totally enriched my life and I want to take the time to thank them for being an important part of my life and for making me laugh.

So I look forward to 2011 which comes in about 3 hours and all the incredible changes it holds for me and my son. I also feel that 2011 will be the year that real estate takes hold again and moves in the right direction. I finally feel we have reached the end of the downslide (ooh a prediction I don't normally make these), but here goes I do think we will see an upward movement in the real estate world. So let's all say goodbye to 2010 and happily welcome 2011.

Happy New Year to each and every one of you who reads me today!

Yes, I Allowed It

2010-11-09T13:16:00.003-05:00

This business has certain practices that have been around a long time, but when the market went crazy these practices went by the wayside.

I had a great home on the market in Arlington, VA and no offers after 90 days. We had lowered the asking price but still nothing. Once we got below $600K I decided it was time for another Open House. It was a beautiful Sunday and had some nice traffic come through and then they came in. Cute couple with their child and commented on how much they loved the home, that it was perfect, but they had their condo to sell. I said not to worry I would honor their buyer's agent and they left their contact info along with the name of their agent.

After days nothing from the agent, I called the buyer, nothing, then email, nothing. Sitting at a KW conference in Austin, TX this past August the session was on how Gen Y'rs love to text so decided right there I would text him. Bingo, within 5 minutes he responds on how sorry he was for not contacting me sooner and gave me his agent's contact info. We had an offer within 48 hours.

As the story goes they had not even placed their condo on the market, and the offer came with the dreaded Contingency - Sale of the Purchaser's Property and Kick-Out. After much research on my part and discussion with the sellers I told them if the price is acceptable we should take it and allow the Contingency, and they did.

Well, the contingency after 30 days has been removed and we are closing as scheduled on the contract. My folks have found a fabulous home and will close on their home on the same day as the closing of their current home.

Moral of the story is do your due diligence and serve your client. It sometimes takes a bit of work on our part and strategy to get the home sold.

Yes, I broke the rules took the Contingency and trusted in what the data showed me. The end result a happy seller!

It Won't Appraise You Know

2010-10-12T17:03:00.016-04:00

The last 2 weeks have been interesting, in 2 separate offer situations with the same buyer the sellers have had unrealistic expectations on what they feel their home is worth. I truly believe it is the responsibility of the listing agent to make their homeowner aware of what can and cannot affect the value of their home. It is also the listing agent's responsibility to go over comparables and what can happen at appraisal time should they find a buyer willing to overpay for the property.

In the first offer situation the seller told his agent to absolutely stop telling him that the bank determines the value of the home with an independant appraisal. The seller then countered us with removal of the appraisal contingency and the guarantee that my buyer would pay the difference between the appraisal and the contracted purchase price. I would guess the seller realized that the home would not appraise and obviously this became the deal breaker for us and we walked away from the deal. This is why buyers have appraisal contingencies and banks order appraisals.

In the second offer situation the seller is so overpriced and has been on and off the market for over 14 months. The listing agent is trying to explain to me how I am incorrect in determining value, but the fact is if it hasn't sold in the last 14 months there is a reason - PRICE!

I had an appraiser many years ago explain to me on what they do in determing value. This is also just one part of it not all of it in determining value, and there are different methods of value. Examples would be highest and best use, cost of replacement, etc. So let's begin . . .

First - like/same. What does that mean? A ranch/rambler or one level home will be compared to the same. A basement will add to the value, no basement will take away depending on whether the subject property has a basement or not. It will not be compared to a 2 story colonial or a contemporary.

Second - square footage. The appraiser compares square footage adding and subtracting value to the subject property.

Third - upgrades. Please understand if you replaced a roof, furnace, central air, water heater, etc these are not upgrades as these are necessities in a home. You can't sell a house without a roof. The biggest mistake is the homeowner over upgrades their home. I once had a listing where they laid marble floors in a $130K home, no one cared. What happens is the homeowner is disappointed or sometimes even gets angry when the buyers don't find it an important upgrade.

There are many many other factors that go into an appraisal including neighborhood values, etc. This is just a small part of the appraisal process.

Now, attracting buyers - please when painting take into consideration your colors. You may love electric blue but most buyers won't. The same goes for selection in flooring. Don't cheap out! Pergo or laminate flooring is nice but it is not a replacement for hardwood flooring. Buyers love hardwood floors. You might just be better off installing carpet if cost is a factor.

Please understand, when you price your home $80,000 over everything else in your neighborhood, even if I had a buyer who would be willing to pay for your over priced home - IT WON'T APPRAISE. Appraisers calculate based on actual 12 month sales and active listings (foreclosures and short sales included). The end result would be a reduction in price or even worse the buyers would walk due to buyers remorse given the opportunity to change their minds.

The appraiser works from what is real not what is the seller's perceived value. Mr. Seller, I as a buyer's agent know that listing agents have a trick that they withdraw the listing and then re-list the home with the new lower price. The home is then reflected as a new listing on the market. FYI, a good buyer's agent will check the history and we see everything that has occurred with the listing. We will see those 365 days you have been on and off the market. I do really want to sell your home to my buyers but no one will over pay for your house in this market.

My buyers have been heartbroken but I will find that dream home they want and at the right price!

So Does That Mean I Get To Stay?

2010-10-05T11:41:00.009-04:00

Now that J.P. Morgan Chase, Bank of America and Ally Financial (GMAC) have announced a delay in foreclosures many homeowners are wondering if they will not be forced out of their homes. What is really happening?

First, this affects only 23 states:

Connecticut, Delaware, Florida, Hawaii, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Nebraska, New Jersey, New Mexico, New York, North Dakota, Ohio, Oklahoma, Pennsylvania, South Carolina, South Dakota, Vermont and Wisconsin.

These are judicial states for foreclosure which means that the bank usually has to go to court to be allowed to foreclose.

Old Republic has now announced it will no longer write title policies on J.P. Morgan Chase foreclosures. In all this news, I do see a silver lining. That the banks which are notoriously slow in their short sale process should now be more accommodating and get these deals closed.

A short sale is when the homeowner still owns the property and it is the homeowner negotiating with his mortgagor the acceptable terms of payoff. The reason is because the payoff is short of the mortgage amount due plus all the interest, penalty fees, attorney fees, and everything else the bank wants to throw on there at time of settlement.

The title companies are now realizing that it will be them taking the loss on the foreclosure should a former homeowner determine that the law was not followed and that they were incorrectly foreclosed on as they technically still own the home. That former homeowner could file suit to recover their home. How could that be you might ask? Well, if the home was not properly foreclosed on that means that the bank did not properly pass title to own the property. This means they did not have the right to re-sell the home as a bank owned property.

There are 50 states in the Union so there are another 27 states that are not affected by this. Every state in the Union is different and depending on your particular state the procedure will vary. Example in some states it is a specific day in the month say the first Tuesday of every month and in other states it can be after they have met the advertisement requirements.

My first suggestion to homeowners is go get those closing documents you signed and read them. Then call your friendly attorney and ask for it to be explained to you so you totally understand what you have signed. It is clearly spelled out what remedy your specific mortgage holder's policy and procedures are for foreclosure. The next step is to then look up your state and what the law states is their procedure for executing a foreclosure.

For general information you can check here to determine if your state is a judicial or non-judicial state http://www.realtytrac.com/foreclosure-laws/foreclosure-laws-comparison.asp.

If you are in a FHA mortgage I urge the homeowner to call HUD and HUD will direct them to a HUD certified credit counseling service. Do not pay any attorney, company or individual to do this for you. These services are free and they are there to help you.

If you are a buyer of a foreclosure sale buying directly from a bank or you are buying a short sale buy the extra homeowner's title insurance for yourself. In some states this is not a requirement but an option.

Finally, if you are a distressed seller reach out and get help. If you can't stay you can sell your home.

Even on the Metro You Can Buy a Home Just Look for Me

2010-09-12T18:17:00.008-04:00

Today I had an Open House in Arlington. We decided a couple of years ago to trim the budget and we now only have 1 car. It usually works fine but last week I found out that due to scheduling conflicts I could not have the car on Sunday. I got on the internet and went to Hop Stop to see if the Metro would work for me. I saw that the metro stop was a 15 minute walk to the house. I decided I would take the Metro instead of renting a car.

I got on the Metro today and as I walked to the home I placed the Open House signs along the way. It was a different prespective than from just driving there. I also learned the neighborhood better as I was experiencing the neighborhood as if I lived there by walking. Walked by the great park nearby that has a walking/biking trail, the school, and saw people walking, running and biking on this drizzly Sunday afternoon.

The Open House was a great success. A couple came through and we are expecting an offer from them. The additional information I was able to give the prespective buyers as they came through was pricelss. At 4 pm back to pull the signs and go home. When I got to my off my Metro stop and since it was Sunday it would be an hour wait for the next bus that goes by my home.

Sitting there the gentleman next to me asks me, "did you have an Open House?" I said yes. We then start talking about real estate for the next hour and come to find out he and his wife are looking for a home in Alexandria. I happen to have a listing there at a great price. We exchanged telephone numbers and will meet up next week.

I might just take the Metro more often.

Mortgage Debt Relief Act of 2007- did everyone forget?

2010-09-08T09:25:00.022-04:00

First, I want to make clear that I am not a tax accountant nor a tax attorney. I am not giving anyone tax or legal advice here. What I am doing is making sure that you go in armed with information to your tax accountant or tax attorney.

This post comes due to the number of calls I have received regarding the after affect of the the Short Sale and the consequences that the sellers are fearing. I also want to let you know that you should not allow the bank to bully you into fear. This seems to be a problem that I see pretty consistently. After speaking with a closing attorney yesterday and getting a call from a client who spoke to an accountant, I was surprised that these individuals do not know about the Mortgage Debt Relief Act of 2007.

Back in December of 2007, when George W. Bush was President he signed the Mortgage Debt Relief Act of 2007 and also known as the Mortgage Forgiveness Debt Relief Act and Debt Cancellation Act. This was extended and is in effect until December 2012.

My advice is simple go to www.irs.gov and arm yourself with the proper information. Then print the proper publication and bring it to your tax attorney or your tax professional. You can also call the IRS and ask them questions regarding your situation.

The information below comes directly from the IRS website:

Ten Facts about Mortgage Debt Forgiveness

IRS Tax Tip 2010-44

If your mortgage debt is partly or entirely forgiven during tax years 2007 through 2012, you may be able to claim special tax relief and exclude the debt forgiven from your income. Here are 10 facts the IRS wants you to know about Mortgage Debt Forgiveness.

1. Normally, debt forgiveness results in taxable income. However, under the Mortgage Forgiveness Debt Relief Act of 2007, you may be able to exclude up to $2 million of debt forgiven on your principal residence.

2. The limit is $1 million for a married person filing a separate return.

3. You may exclude debt reduced through mortgage restructuring, as well as mortgage debt forgiven in a foreclosure.

4. To qualify, the debt must have been used to buy, build or substantially improve your principal residence and be secured by that residence.

5. Refinanced debt proceeds used for the purpose of substantially improving your principal residence also qualify for the exclusion.

6. Proceeds of refinanced debt used for other purposes – for example, to pay off credit card debt – do not qualify for the exclusion.

7. If you qualify, claim the special exclusion by filling out Form 982, Reduction of Tax Attributes Due to Discharge of Indebtedness, and attach it to your federal income tax return for the tax year in which the qualified debt was forgiven.

8. Debt forgiven on second homes, rental property, business property, credit cards or car loans does not qualify for the tax relief provision. In some cases, however, other tax relief provisions – such as insolvency – may be applicable. IRS Form 982 provides more details about these provisions.

9. If your debt is reduced or eliminated you normally will receive a year-end statement, Form 1099-C, Cancellation of Debt, from your lender. By law, this form must show the amount of debt forgiven and the fair market value of any property foreclosed.

10. Examine the Form 1099-C carefully. Notify the lender immediately if any of the information shown is incorrect. You should pay particular attention to the amount of debt forgiven in Box 2 as well as the value listed for your home in Box 7.

For more information about the Mortgage Forgiveness Debt Relief Act of 2007, visit www.IRS.gov. A good resource is IRS Publication 4681, Canceled Debts, Foreclosures, Repossessions and Abandonments. Taxpayers may obtain a copy of this publication and Form 982 either by downloading them from IRS.gov or by calling 800-TAX-FORM (800-829-3676).

You can find more information by just going to www.irs.gov or as noted above just call them.

Visit my website at www.TheNeighborhoodAgent.com

The REO Agent

2010-06-14T16:20:00.003-04:00

So I start this with a sentiment I have heard many buyer agent realtors exclaim, "we are over you REO agents!" Why you might ask. Well, you tend to be rude, you never return a phone call or acknowledge that you received our offer. When we call you regarding an update of our status of our offer you are put off. Your REO answer to our complaints are, well we have so many listings and so many offers we can't possibly get back to all of you. Then my answer to you is what is your staff there for? What are they doing? When you want a highest and best out of our buyer, you are able to get to all of us pretty quickly, no?

There are so many homes that have been foreclosed on that the banks are holding. Are these the only realtors capable of servicing them? I want to tell you that I have met many struggling realtors that would do a far better job in managing these foreclosure listings then the realtors that are currently doing this job. These struggling agents only need a 1 or 2 a month consistently to actualy make a living and give great service out there. Hey, Banks they would take care to get the best for you and treat the buyer's agent with respect out there.

Or is this about the Asset Manager and the poor job this individual is doing on behalf of the bank?

I do a lot of short sales as a listing agent and I will tell you that I absolutely give regular updates because I would like to be treated that way. It's also a small real estate world out there I want the buyer's agent to have a good experience with me. You see I believe in service. Service to everyone involved in the transaction.

Do the banks not care about how the buying public is being treated? I have experienced several buyers say to me, "please I do not want to see any short sales or foreclosures. I can't take it anymore how we are treated." I understand that because it is frustrating working with the REO agent who now dominates the market place.

I look forward for the day when the market returns to normal unfortunately this won't happen for many years. So I ask you REO agents to please get some type of professional decency when working with the rest of your real estate community.

Sunday and Craving a Piece of Chocolate Cake

2010-03-28T15:00:00.007-04:00

It's Sunday and it's been a while since I have been here. I have had a couple of comments on my short sale postings so look for an update next week and what has happened. Many changes a coming so in the next couple of weeks you should see a great site here and on WordPress and my website www.TheNeighborhoodAgent.com .

I'm craving chocolate cake so instead I'm eating french fries and blogging. Bear with me got to get through this craving. The fries are from my freezer and are getting toasty and hopefully it will kill the craving or I am going to have to go to Safeway and get that cake.

It's funny because something happened today. I am home alone (doesn't happen often) not wanting to finish out my taxes to get them to my accountant and I opened the local newspaper, The Washington Examiner. This is a local paper with a slight to the right view (I know strange) and there is an article about homeowners going rightside up in 2015. I actually joked about this not too long ago that it would be 2015 before the market improves.

I guess I am tired of the media and their speculation. Yes I am a realtor but there is alot of misinformation out there. The most important thing you the reader must realize is that real estate is Regional. So what is good in Northern Virginia is not necessarily the same in Miami, FL.

Example, read the CNN real estate newsfeed. Their newsfeed is actually frightening. If I was a buyer I would go hide under a rock. But let's understand something that buying a home is a great investment.

I bought my first home in 1983 and it was a 2 family in Teaneck, NJ. As a buyer I didn't know anything about the market and frankly it did not matter. I was buying a home to live in. My husband and I bought the home and raised the rent to market price, got a new tenant and that paid more than 1/2 the mortgage. By the way my mortgage was an FHA - 30 year fixed at the great rate of 13.5%. It had just come down from 18% so it was time to buy.

I think you get my point. It's your home. You buy it, live in it, and hopefully it's your respite. The place where love flourishes. A place you find peace after a long work day. So if the market improves and your values go up then the rest of it is cake! Maybe chocolate cake.

As the volatile market goes my next home was a lose as I purchased it in 1989 and in 1991 the market went in the toilet. I lost a lot of money and well after 27 years, 6 homes later and a new move I am looking for a new home to buy. I'm not going to make the tax payer credit (although that would be nice), and maybe not even get the lowest rates in decades, but I will buy a house (or better yet my home).

It's about what you create. If you work with a good realtor he/she will pull comparables, guide you through the process, and do the best for you as a buyer's agent. Just don't get paralyzed by the media.

Follow your heart or maybe look for that chocolate cake.

Snow Anyone?

2010-02-07T17:52:00.003-05:00

I live in Fairfax, VA. If you haven't heard we got 28 inches of snow. All afternoon Friday and all day yesterday that was all that was on the news - the snow. They were watching it and tracking it and measuring it every hour on the hour. Everyone was crazy about the snow including my household.

I went as usual on Thursday night to Wegman's and it was like the world was coming to an end. I went again on Friday morning to make sure I did have enough food until Monday. FYI - I never listen to these things because I do find them sometimes a bit exaggerated but this time I did. A radio personality described it as Christmas Eve at the shopping just before they are ready to close. He was right.

The snow came and came and came. I took a walk to Safeway while still snowing. There were people outside walking their dogs, who were just having a great time. Everyone smiled and you got to see your neighbors shoveling or playing with their kids and yes we were all still wondering when it was going to stop. It was like it was never going to stop and finally around 4 pm yesterday it stopped. By sunset you could see the most incredible sunset glissening in the snow.

This morning while walking to church it struck me on how beautiful the snow really is. It doesn't come like this very often. I find it another one of those things that God does to us to remind us who really is in charge. He stopped us all in our busy tracks to stop and well look at the beauty of it all and maybe to look at each other in the rush of life.

It reminds us we are alive. Shoveling even that much snow makes out bodies hurt well that's okay. I'm alive. And it's beautiful outside right now.

In a couple of days it will all be just a nuisance and it will get dirty and start to melt and just plain make a mess everywhere but for right now it's beautiful.

I want to live in this moment and say thank you for reminding me to live for today.

I Ask for Courtesy, please

2010-01-25T22:10:00.002-05:00

I write this because we have all lost the need to be courteous to one another. I recently worked with a buyer. She was lovely and we got along quite well, I thought.

She called me one afternoon and then I didn't hear from her. I called but no return call. I thought there was no interest. Then on Christmas Eve I got a call from her asking for help. She was in a rough spot and needed me to help her. I agreed to help and told her what to do. I suggested she call my lender for qualification and that we would meet after Christmas.

My lender did respond to her the day after Christmas (Saturday) and we met on Sunday. As we moved along in this difficult market which I explained what would happen. We wrote 2 offers. Not bad here in the metro D.C. area.

Did she buy it? Well, here is what happened. She stops calling. Just stopped. She got cold feet? or didn't want to work with me? I did finally reach her and she told me she would return my call. Nothing.

Please understand I actually understand if you change your mind or get cold feet or just don't want to because of whatever you feel is stopping you. I just need to know. I can't read your mind.

I just ask that I be treated with the respect and courtesy I gave you that Thursday morning before Christmas. I just ask for the courtesy of a return phone call.

I would request buyers and sellers to please talk to us. We are your realtor. We represent you and understand when you get emotional in your decision. It's okay. We just ask for a return call so that we know what you are thinking. We are on your side we represent you.

Just a thought I would put out there.

The End is Near

2010-01-08T20:53:00.001-05:00

I write this as tomorrow is the last day of the Moving Sale I have helped my seller in Oakton, VA. I want you to know that my biggest problem I have usually become attached to my seller or buyer. We both usually wonder what tomorrow will bring. It brings new day.

The day after settlement begins a true friendship. I can't tell you how many of my close friends were met as either buyers or sellers. I can now add another friend. She is a marvelous lady who plays the piano like an angel. She loves her faith and she is incredibly intelligent. I have enjoyed talking with her about many things. I enjoy listening to her. I look forward to laughing with her and absorbing the knowledge she has willing given me. She's learned from me too, how to market on Craigslist and how to do a Moving Sale and she has found it facinating, who would have known. The end is near but the beginning starts on January 15th, 2010.

Year End Reflection

2009-12-28T20:47:00.002-05:00

So I just wanted to tell my readers how much I appreciate them. I am working with a reader of my blog. We met yesterday and she is wonderful. I realized yesterday this is the best part of my job.

I meet people from all walks of life from all parts of the world. I feel blessed that I love what I do and that I can help you find your dream home. This can sometimes be a difficult process, but it gets done.

Yesterday, I spent the afternoon with my new buyer and she was delightful. This morning I headed to a seller I am helping her set up for a moving sale and to make sure she is not too stressed on her move out of the house.

The best part is they send me email letting me know that they appreciate me and what they don't know is I love what I do and the emails are just so appreciated by me.

Yes, I had to work hard at times when I work with banks but yes how cliche I love the people.

So to end the year THANK YOU EVERYONE FOR TRUSTING ME WITH YOUR VISION!

Update on the FHA Buyer buying an FHA Short Sale

2009-11-19T20:26:00.001-05:00

Well, had that conversation with the inside person at the short selling bank. I did get to a supervisor. Had to go that route once again because my negotiator said no to me and that we had 180 days to sell the property. I said to her did you not realize that the appraisal will now stick to that property. What don't you understand about HUD guidelines today for FHA?

So off to the supervisor I went and I did get her to agree to go to HUD after suggesting that she pick up the phone and call HUD and get someone at HUD to look at your appraisal and look at the buyer's appraisal and act like underwriters are required to act in a sales transaction. Go back to your appraiser and ask him to provide another comparable. I told her that the appraiser will not be able to provide that comparable (I have already done a search in the area nothing exists to support it) and therefore the price of the property would be then lowered to where the buyer wants the property. Okay she agreed

At 4 pm I got the termination from the buyer. Is this the end result that banks want? So back on the market it goes until the next appraisal comes in.

FHA Buyer on an FHA Short Sale so What's the Problem?

2009-11-18T22:27:00.002-05:00

I have now encountered this for a 2nd time this year regarding short sales. I have been doing short sales since 2003. I don't call myself an expert because every short sale is different even if it's within the same bank. Once again another surprise, I have now encountered an unusual situation for a 2nd time that well I don't know if it will be resolved.

My short sale was approved as being an FHA short sale. The valuation of the property is not a BPO but a certified FHA appraisal which is the rule for an FHA short sale. The transaction is moving along and the buyer orders their appraisal and there is a 2 week difference from the 1st appraisal done and the 2nd appraisal done. Surprise there is a $10,000 difference and the buyer's appraisal comes in $10,000 lower. Why?

I go back and submit the new appraisal and the bank says NO, HUD says their appraisal is good. So as I review both appraisal I note that one of the comparables used by the first appraiser expired 6 days after the date of the appraisal so any 2nd appraiser would not consider that comparable. With that comparable not in the second appraisal the appraised value the bank has obtained cannot be reached.

This is a problem within HUD itself. It sets one set of guidelines for banks and how to proceed with FHA short sales and then HUD sets another set of guidelines for the buying consumer and what an appraiser can use to consider a comparable.

We have a problem that I don't know if we can solve. What the bank does not seem to understand is that I will never get an appraisal with their valuation. The first time I encountered this I finally got the bank to agree and get a new appraisal as the appraisal they had was 5 1/2 months old so they did agreed to do a new appraisal and the price was then lowered. This current situation is different as the short selling bank's is only 1 month old.

Tomorrow I will plead my case to the highest supervisor I can find inside the bank with the hopes that they understand what we are faced with and why they need to consider what we have and order a new appraisal. We shall see what happens.

Watch Me Grow

2009-11-14T05:35:00.008-05:00

It's been more than 2 weeks since I attended the RE Bar Camp. This event has inspired me again. Every so often I get on this kick that I want to do my own website. I have a website. Actually I have 2 websites one for each market that I sell in but they lack something . . . well me personally. As most agents that part is handled by someone else or we use a template of sorts. Yes, we are always busy and we are told that certain parts of our business should be handled by others they call that delegating.

Now there are theories about delegating. Do I believe in it? Yes, but I also believe that real estate the selling of it, financing, etc. is a personal thing. I believe that what makes me a good realtor is that I put something on the line in my business, which is me. I want to express that through my website and I don't think that message gets across at the moment.

The first thing I am doing is going to import this blog into my new blog over at Wordpress. I am then going to work on getting my new site up and incorporated into what I have now.

Why go to all this trouble when I can just pay someone to do it for me? Well, I'm 50now. Oops, I told you how old I am. Anyways, they keep telling us that as we get older we need to work our brains, learn new things, complicated things to help etch things into our brain memories like when we were children. For me this is pretty complicated. All this html code and embedding is like a foreign language. I have learned a few of those and now I want to learn also.

So follow me here and watch me grow and I hope you leave a comment or two as my blog/website grows and develops.

It will be a challenging piece of work I do and there will be lots of information for everyone including about the one aspect of my work which is short sales.

Until next time . . .

RE Bar Camp - DC

2009-10-29T23:25:00.004-04:00

I guess the first thing anyone would ask is what is a RE Bar Camp? I had the same question and I attended my first RE Bar Camp on Tuesday. It was like the coming of Christmas for me when I was a child. The anticipation was unbearable at times waiting for the day to arrive. I had signed up for a couple others but could never pull away from my business to go. Here it was right in my backyard. It arrive just in time and it was worth the wait. I was ready for RE Bar Camp and devoted the day to just learning.

There was so much to learn from people who really wanted you to understand. There was social media networking, twittering, blogging, or vlogging. Ideas, ideas and more ideas. I left with a head full of stuff that I personally needed to sort through.

I guessing what I have never understood are the realtors resisting all of this because this is the future and it is exciting.

I left wanting more. I am a novice at this. Unsure how to use it and what RE Bar Camp told me is that there is a whole ocean of information waiting for me to throw a line in and see what I catch because there is enough for everyone to share.

The interesting thing here is that we are all competitors and at this place we are all there to learn and to interact with one another instead of keeping the secrets to ourselves. I have been a realtor a long time and I can remember being a newbie and asking a seasoned realtor how she got business and she gave a a round about non-answer. I realized then and there that it's everyone to their own.

Social media is not that. It's about sharing and making a community within our industry which allows us to give back.

I am part of the future of real estate. I am a social media Realtor.

Watch Your Scents - Tips for Sellers

2009-09-20T20:49:00.005-04:00

Selling in today's market can be an incredible challenge. There are many things that affect the buyer when they walk into a home. One of the most important is smell. Smell is a very subconscious thing that can affect how a buyer feels about a property they are viewing.

Smell is powerful, and how your home smells is critical. Everyone has scent associations. So when odors enter the nose they are filtered through olfactory nerve cells and go into the limbic system, the emotional center of the brain. That emotion becomes fixed to the odor memory and gets locked in your brain until it's revived with a whiff. That makes for a scent memory.

The other thing that happens with scents. Since you live in the house the smell receptors in the nose become less sensitive to it and you'll stop smelling it. So you may not notice that the kitty litter smells, but we do. I can always tell when someone has a cat unless they are a very clean individual.

Give your home a good scrub before listing. So be sure to clean that kitty litter box every day. Make sure you air out the house if your dog got caught in the rain. Most importantly, please don't smoke in the house. Fresh flowers are great in a house. They are visually pleasing and they smell great.

The other things that can turn off the realtor and their client is when someone puts fragrance sprays to try and cover up the odor in the house.

The solution is to clean but don't overwhelm the air with ammonia or bleach smells. Get a professional cleaner to come in and clean the house if you don't have time. Everything the stove, oven, floors, everything. A clean house gives off great feelings. It tells the buyer you take care of where you live. Have the carpets professionally cleaned. They can be cleaned and deodorized.

Finally, get a friend to come over and tell you if your home smells or better yet call your realtor. We can guide you in the best way to present the home for sale and get offers.

Happy Selling!

Updated?

2009-08-18T20:24:00.002-04:00

Recently, I went out looking at homes for myself. I am in the market to buy a home and off I went Sunday to an Open House. My husband, son and I spent some time in a house and it was nice enough. I must say very it was very clean and well cared for by the lovely couple.

My problem comes with the description that the realtor put out. At what point is "fluff" as we call it ridiculous? Well, I am calling this ridiculous. The information sheets notes the following:

"Perfectly updated rambler . . ." so the updates included a 1994 dishwasher, as I walked through the house nothing was updated with exception of the new carpet. The home still had the original cast iron pipes and fuses in the electrical panel box. I went home and read the information sheet and really had a good laugh. The question that came to mind was, "what was that realtor thinking?"

Then yesterday I went to see another home and encountered the same thing, but worse. The exception was that the house was filthy. I can't imagine what the agent thought when she listed the property other than OMG! She actually notes in the listing notes "1997 new appliances . . ." I realize she is trying to get the house shown but you walk in and you can barely stay in the home over the smell of the dogs and the smoke.

Okay let's get this straight recent updates for structural items like roof, HVAC, appliances, means no later than 2006 that's 3 years. That means these items have a life left of at least 10 years, not that they are 15 years old.

Agents, please do your seller a favor TELL THEM THE TRUTH even if its a short sale. Please tell them to clean the house. I have to be able to walk through the home without holding my breath.

Also, tell them that 1994 or 1997 even 2000 is not an update. Actually, its time to update again, now. If you painted in 2003 it's time to paint again. It's 2009 that's 6 years. You should be painting your home every 4 years.

In this difficult market you must have your seller's put their best foot forward or you are not doing them a service. They are paying you a good commission do your job and show them what they have to do. Can't put it in words then stick them in your car and show them the competition. If you don't know what to do then my fellow realtor time to retire. This is not a market for amateurs. Your client deserves your honesty in preparation to sell their home. You know, that is why they hired you in the first place.

I know you want them to like you. Take the rose colored glasses off and let them know you are their friend but more importantly you are their realtor.

Good Day Sunshine!

2009-05-08T23:44:00.003-04:00

I woke up this morning and the sun was shining. I was happy to see the sun and the blue sky since it's been gray for days here.

I have been reading that I need to get outside for at least 20 minutes to keep my spirits up. That makes total sense to me so I went out looking at property today. I love walking through homes. I love looking at real estate. You would think that after 15 years I would get tired of it. I don't

I love real estate. I go to look and see what is on the market. Tomorrow I will pay visits to For Sale By Owners. I don't ignore them. I think maybe a little more difficult to work with but occassionally they are just fine.

I hope tomorrow is a beautiful as today, maybe a scooter ride will be required too :) that also sends the happy hormones flowing.

Hang in There

2009-05-07T23:05:00.002-04:00

I seem to say it every day to one of my buyers, "hey guys, just hang in there." We seem to always be in competition for the house. I have written this month 6 offers and have yet to get one through. I have 2 pending but it doesn't look good.

I love my buyers and they are not low balling any homes they are offering more than list but there are so many buyer out there in the Northern Virginia area in the below $400,000 price point that it's difficult to find any homes.

Even the homes in the worst condition have 3 offers on them. So as anything that we really want we are going to have to work for it.

Hang in there, patience will pay off.

Hello, hello, I Feel Your Pain

2009-05-06T21:19:00.004-04:00

I feel your pain. The pain of trying to get a realtor call you back. We realtors also feel your pain as you buyers. I know, you ask yourself, "I'm interested in the house why can't the agent return my call. How about actually answering the phone."

I ask myself the same question. I have a written offer on a property and want to speak to the listing agent before I fax it over and can't get her/him to call me back. Or they get the offer and we are waiting for a response and I call for a follow up to see where we are on this. Nothing.

This is the biggest complaint from the public that deals with us. Now we have email, blackberries, texting. I still can't get a response.

My advise to you is get yourself an agent that responds to you. There are plenty of professional realtors that answer their cellphones. They want to do business with you in a professional way. It starts with answering their phone or returning the call with a couple of hours.

I have been in business for over 15 years and return all my calls, emails, texts, and I answer my cellphone when you call me.

There was a proliferation of speakers that ran around telling agents not to answer their phones - you control who you talk to. Well, I never bought into it. I always have taken calls on my cellphone. Today, I am still in business and most of my clients are referrals. Why, I answer my phone. I am not afraid to speak with you my buyer or my seller.

I'm here for you. That is the level of service I believe every person buying or selling the largest expense in their life deserves at minimum.

Work with a professional realtor.

Your Neighborhood Agent on a Scooter

2009-05-05T21:23:00.006-04:00

So today was interesting, I decided I was going to scooter it around today. It was a brisk day and overcast. It's hard to decide when it's overcast. Will it rain? Will it not rain? I love my scooter but sometimes my fellow female Realtors sort of look at me as if I am crazy. The question always comes, "are you going to show property on that?" My answer is always why Yes :)

If someone meets me at a property then follows me to the next home why can't they follow me on my scooter? Today, I previewed a property then showed it and then we met back at my office. On the way to the office it started to drizzle.

I got to the office and they were a little behind about 20 minutes and it started pouring. Thankfully, I got in before the downpour. We met, wrote an offer and to my surprise my buyers offered to put my scooter in their van and take me home :)

No, I said thank you but how nice is that? It let up just drizzling again. I dried off my scooter and off I went back home. I had to go about 5 miles. Hmmmm, yes it was a little wet. They need to make helmets with a wiper on it or something. I took it a little slow. I am a little skittish about riding in the rain.

Oddly, enough only my left leg got wet on my thigh. Why not my right? I wear a mesh jacket and had a long sleeve sweater on so I was not cold and had also worn a scarf to keep the wind down.

I got home safely. I didn't any cagers push me took my time and it was good. I worry about the oil slick on the road but I had let more than 20 minutes pass after the rain. I got home stored my scooter and got on the phone to follow up on my listing appointment.

My listing appointment moved it to tomorrow thank goodness, already put my scooter away still raining.

Love being green on my machine.

Buyer Fatigue and Short Sales

2009-04-06T12:40:00.013-04:00

Buyer Fatigue - when a buyer is fed up with the media telling the consumer to go out an buy a home at the bargain rate of 20% to 50% of market value and is unable to do so, the buyer refuses to look at any more short sales or foreclosures to buy.

I have a wonderful buyer client who is looking for a home for his family. Today, I have 2 new homes that just came on the market but both are a short sales. I emailed the listings to the client and they emailed me back and said "no thank you, we will wait for a regular sale." This is becoming the norm. I have heard this now 4 different times. I have heard from other realtors who are buyer's broker that if they knew it was a short sale they would not show it.

Usually, the buyer's broker doesn't want to show because of the unknown length of time the bank will take to response to the short sale request. Listing realtors if not aggressive with the bank are unable to get timely responses back.

So what is happening is that buyers aren't getting what they are told is out in the market, and realtors are frustrated with listing realtors for lack of communication.

Buyers are tired of the waiting and the banks are using contracts to play against one another. Agents don't want to show short sales and buyers don't want to buy short sales. What are banks to do???

Okay, I have a suggestion. First, if I were a bank I would hire and train intelligent time sensitive individuals. This is not a job for a temp as this is what I encounter most of the time. Second, why does this process take such a long time to make a decision. We are dealing with numbers or better yet Dollars. Banks know that if the value is not there they can't sell the home for more than what an appraisal shows. Banks order appraisals or BPO's (Broker Price Opinion) before making a final decision. Once that information is in the the decision should be simple? Not for the banks. There are still weeks that lag on until they finally get back to us.

Everyone in the industry knows the costs associated with the foreclosure process. It's not just the lost money from the sale but the costs involved with hiring the attorney to do the foreclosure, the cost of hiring the asset manager, the clean up if there is an actual foreclosure, etc.

I believe that what Congress has to do is make these banks accountable. I mean really accountable. They need to have logical people making decisions not pencil pushers. They had no problem accepting our tax dollars. They take our tax dollars but have no accountability or sense of urgency to no one but themselves.

Realtors and the Short Sale Process

2009-03-17T14:26:00.009-04:00

This is a post but could also be considered a vent. I am frustrated with buyer's agents who thinks that short sales are like foreclosures. This is being written by a real estate broker with more than 7 years experience on short sales before short sales became normal

First, the bank does not make the decision on the signed executed contract. The transaction is between the seller and the buyer and not the buyer and the bank like a foreclosure. In a foreclosure situation the transaction is between the buyer and the bank.

Second, we do not present contracts to the bank. When the bank receives the executed contract it is just that it is executed and cannot be released until the seller and the buyer have agreed and have issued a Termination and Release.

The bank requires the executed contract for the purpose of calculating net proceeds and whether or not the the net proceeds falls within the investor/bank guidelines of short selling a mortgage. The bank is shorting the mortgage not the property. Short Sale an expression of how a house is being sold not what the bank is doing.

The bank's decision is to allow the homeowner/borrower to be released from any further liability to the signed mortgage contract when they purchased the property.

So when a contract is turned in a Preliminary HUD-1 is also turned into the bank. The bank then orders a Broker's Price Opinion (BPO)or in the case of an FHA the bank orders an actual appraisal of the property. Then the bank determines if there is mortgage insurance on the property. If there is mortgage insurance on the property then after the bank puts all their calculations in they will forward to the mortgage insurance holder on the mortgage. It then sometimes still needs to get a final approval from Fannie Mae or Freddie Mac.

Please also note that mortgages although may not have mortgage insurance that was paid along with the mortgage by the homeowner but banks take out insurance on mortgages for their own protection. If this is the case then the mortgage holder has it's own calculations and they do their own approvals on what is an acceptable amount to accept.

My experience has been if there is insurance that was taken out by the bank or if there is homeowner paid insurance the bank's only interest is to obtain the minimum necessary to collect on the other part which is insured.

There is much dis-information on this process and as a listing agent it is frustrating when I have buyer's agents arguing with me on how this process works.

If you are new at this process listen to experience and don't argue. Ask questions especially to your homeowner. There is nothing more frustrating than starting a short sale to discover that the homeowner has additional liens on the property like IRS liens or State Income Tax liens. These liens and other liens WILL NOT BE PAID BY THE BANK under any circumstance.

The banks are overwhelmed they will show you little patience. Banks work the fires first so you must be prepared when you actually get a person on the phone. If you the realtor are unfamiliar and not sure refer the deal to a fellow realtor who can complete the transaction you will get the referral fee with no work :)

For more information or if you are considering a short sale please visit me at my website www.TheNeighborhoodAgent.com or call me at 202-344-0045

God Smiled In Frederick, Maryland

2009-03-17T13:48:00.028-04:00

How else could I explain what we heard on Saturday, March 14th at our son's piano recital. As one of children playing, from very beginner to accomplished. Each child's experience began with fear then to accomplishment and finally each child had to feel the love that was set forth from not only their parents and grandparents present but from each person as the applause filled the air when they completed their pieces. As each note was played with certainty from the littlest of hands it certainly had to make God and His angels smile.

First, the location although far was worth the trip. Frederick is located about 55 minutes outside of Fairfax County in Frederick County, Maryland. The drive out was wonderful as you pass large working farms and then come into this quaint welcoming town which is now the City of Frederick.

The recital was gracefully hosted by Downtown Piano Works in Frederick, Maryland. It is owned by Theresa and Dan Shykind. They provide a cozy room with a baby grand piano and plenty of seating. The recital was given by our piano teacher Anna Mecik, who herself is an accomplished pianist. To listen to Anna play is to hear God speak to you through her music. She will certainly move your emotions.

This wonderfuly little recital lasted a little over an hour and afterwards the children relaxed in the greatroom. There was a young man who ended our recital who is known from his skill at solving the Rubik's Cube in seconds flat. The children had fun mixing up the cube and handing it back over and watching in amazement how he solved the puzzle in less than 15 seconds.

It was a great afternoon for all.

Interested in more information please visit

Anna Mecik for piano lessons at www.oaktonpianostudio.com you can hear Anna play at the website.

Downtown Piano Works for great pianos at exceptional pricing www.downtownpianoworks.com

Buying, Selling or just questions in real estate visit me at www.TheNeighborhoodAgent.com

I - the Buyer - A Realtor's Experience in buying a home my first step.

2009-03-11T12:46:00.000-04:00

I want you to follow me through my home buying process. I have now been in my home since December 1, 2008 and my lease is up on November 30, 2009. We are in March 2009 and I have decided to begin my process so that I have time to find the right house for me and my family. Most important thing here is that I am an active licensed Associate Broker with Long and Foster. This is important because as a buyer I now have a different role in the home buying process - your role - the buyer.

The first problem we are encountering is that we love our neighborhood where we currently rent. It's not really a problem other than we would like to live in this neighborhood. My son walks to school and we walk to church on Sunday morning, even if it's raining, snowing or just plain beautiful. The park is nearby and my son enjoys his afternoon after school in the park. We love the fact that we don't have to drive anywhere.

I heard about a buyer's program called NACA. Please know that I am a realtor and this is the first time I heard about this. I did some research I learned that this program offers buyers 100% financing without mortgage insurance which is also called MI for short. Well, needless I found this hard to believe.

The first step is to attend a NACA workshop. I did attend one on Saturday, March 7th. It was informative and I am going to go this route because this seems the most intelligent route to go. The next step is to meet with my counselor which is April 1st. I have several things I need to do prior to my meeting. I received instructions from my counselor.

Now the next question you have is what is NACA. NACA is a non-profit organization that has the best mortgage available at 100% financing at below market interest rates with no mortgage insurance. There are some restrictions but the most important restriction is there you must not own a property at the time you are closing on a NACA loan.

I encourage you to visit http://www.naca.com/ or call me at 202-344-0045.

If you need me to assist you in this process or follow me through this process please don't hesitate to call me in helping you buy or sell a home in the metro Washington D.C. area.

The Loan Mess

2009-02-13T07:16:00.001-05:00

I have decided to start calling banks out on the carpet. I am a realtor and am fed up with the behavior of "big banks." They have our taxpayer dollars and do nothing, frankly nothing to ease the current situations that some homeowners are faced with. Let's take a situation that I am working on at the moment.

I have an offer that has been signed by the homeowner since January 13, 2009. The contract and all requirements were send over to Wells Fargo and I was told it would take 30 to 45 days. First, Wells Fargo can't even find the fax. I complain that it has already been a week and we are losing time. They agree after much back and for and give me a direct fax number to refax the file and it will immediately be placed in Escalation. I do get the file escalated and the file is assigned a negotiator on January 18. It takes almost 3 weeks to get Wells Fargo to issue a Broker Price Option, known in our industry as a BPO.

The homeowner has now been placed on the list to be foreclosed on March 3, 2009. I called the other day to see where we are because we are now 3 weeks from the foreclosure date. I was told by the customer service person that "sorry, we take 30 to 45 business days" to get back to you. Business days? are you kidding? That puts our transaction as business day 30 at the date of the foreclosure! Surely, you must be kidding me. Actually, Wells Fargo is not kidding.

I would like to know how are they helping? I have worked short sales for over 5 years before the crises and befoer short sales became the norm. I have worked with banks that have lost files, had incompetent temps working the transaction and who have also not cared. They even did not take the attitude of Wells Fargo and Wells Fargo's staff vocal disregard for the homeowner and the situation. There is no compassion. When are the banks going to take responsibility for what is going on and the solution to this crises?

Starting Again

2009-01-30T20:13:00.000-05:00

So I am starting to blog again. I did a little blogging but got busy and had personal stuff going on like selling my own home and moving. But, back in the groove again I have to go and vent somewhere.

Funny, enough my first post is going to be about my own move and experience. I moved from one state to another. Okay, so I am a licensed broker and should be able to go to another state and rent a house and really not have issues other than find the right price for what I want and need for my family. I also got an order from my husband on what he wanted, so off I went to northern Virginia.

My first trip up was for 4 days just before Thanksgiving. It was filled with visiting Catholic schools and finding the right fit for my boy. Then it was the house. Once I selected the school I really wanted to be close. Close so we could walk to church and to school. Close so that we could have a better quality of life. So the biggest problem I had was getting a realtor to actually return my phone call regarding their rental. The same goes with the homeowner's and their managing of their rental homes.

I find a house and it is a For Rent By Owner. She was quite nice and I fill out the application. 10 days later I am still waiting for an answer. Her husband is now managing this and I frankly am out of patience, I move onto house #2 and again another homeowner who is a "Master Negotiator". So because the market is ripe with plenty of rentals I decide to walk and make another trip up. I now make a 2nd trip back to find another home. I find something very nice on of all places Craig'sList.com.

This agent had me complete an application and send the fee to her overnight. By the time I arrived back in Virginia I am fully prepared to be presented to a homeowner renting their home and I am prepared to rent. The realtor has several homes set up for me to see. I am thrilled and the one I found her on originally is the one I like the best. When I leave that following Monday I have a signed lease and saved money since the For Rent By Owner is more than what I have rented. My lease is a much larger home and my son can walk to school, church, and the park. Perfect no but I am happy and so is my family.

The moral of the story - GO GET A REALTOR even I need a Realtor!