Keeping your household organized is a challenge in the best of circumstances, let alone when you're in the midst of dealing with the disruption of moving.
As a member of the Top 5 in Real Estate Network®, I, along with my team, always take the extra steps necessary to help my clients experience a stress-free, successful move. Throughout my years in the real estate business, we've witnessed many common mistakes that people make during the course of a move.
Here are seven to avoid:
1.Packing everything. Prior to moving, it's important to take a look around and decide what you don't want to keep. This will cut down on costs by not having to transfer unnecessary items.
2.Sending it all to storage. Storage is usually expensive and just delays the inevitable. Eventually, what you store will need to be moved into your home, so try and bring it all the first time.
3.Shopping on the Internet for move quotes without dealing with a live person. This is one instance where dealing with a live person is necessary. You need to be able to ask specific questions and have your estimate explained to you line by line so that you can see where costs can be cut.
4.Not looking into what your homeowners' insurance covers. For a nominal cost, these types of insurance policies may cover your goods in transit.
5.Not taking photographs of items before disassembling them for the move. You will be unable to process an insurance claim if you don't have proof of what the item looked like before you packed it.
6.Overlooking the box count. If you are paying for boxes by the piece, keep track as things are being packed as each box has a different price attached to it. You don't want to end up with 300 boxes when you only needed 200. Also, if the moving company sees that you're keeping track, movers will be less inclined to hit you up for additional costs when the job is done.
7.Forgetting to take inventory. If you don't create an inventory, there's no fool-proof way to know if you've left something behind or if it somehow got lost in transit.
Work closely with your real estate professional to help avoid these and other common pitfalls of moving. You can also e-mail our team for more information. Please share these moving mistakes with friends and family, too, so that the journey to their new home is a happy one!
Robbi Campbell Properties
Wednesday, November 3, 2010
Top 10 Green Design Trends For Your Home!
As the green movement gathers steam, many homeowners -- and soon-to-be homeowners -- are exploring ways to become environmentally conscious within their living spaces. Greening your home is not only a responsible thing to do but can also boost your home's value when it comes time to sell.
These days, there are an increasingly wide range of products that purport to offer a variety of environmental values but fall short when it comes to style. As a member of the Top 5 in Real Estate Network®, however, I, along with my team, have access to many credible sources on the subject, such as Robin Wilson, a pioneer in the eco-friendly design sector, and Vickie Gilstrap, vice president of color and design for Mohawk's Residential Business. They offer the following areas to zero in on when greening your home ... while, of course, being mindful of design.
Carpet. Did you know that one out of every four recycled plastic bottles is made into carpet? That's more than 3 billion bottles each year! Choose carpet made from renewable or recycled materials.
Paint. Create a cozy space by painting an accent wall in a warm earth tone like cocoa or cinnamon. Choose paint that is non-toxic and contains little or no volatile organic compounds.
Pillows. Use certified organic fabrics to create window treatments or accent pillows. You'll be surprised at the variety of colors and patterns available.
Floors. When choosing hardwood flooring, using reclaimed wood adds a touch of antique, natural beauty to your home.
Counters. Look for those made from recycled glass, ceramic or sustainable bamboo. Use them in both your kitchen and your bathroom.
Accessories. Don't just throw away your older items -- breathe new life into vintage pieces instead by pairing them with fresh accessories. Reupholster an old arm chair or add an accent pillow to give it a fresh, new look.
Lighting. Install dimmable compact fluorescent lights, which can consume up to 75% less electricity and last 10 times longer than standard incandescent bulbs.
Bathrooms. A new shower curtain can update the entire look of your bathroom. Opt for nylon, which is one of the more eco-friendly materials available.
Faucets. Look for faucets with the WaterSense label, which can save the average household more than 500 gallons of water each year and hundreds of dollars in utility bills.
Bedrooms. Transform your bedroom with eco-friendly bedding. Duvets, shams and linens are available in organic materials and recycled yarn.
Thankfully, manufacturers are answering the consumer demand for eco-friendly products that are also beautifully designed.
For more information or to share your ideas on great green products for the home, please email us at robbi@robbicampbell.com. And be sure to pass this email on to your other eco-conscious family and friends.
These days, there are an increasingly wide range of products that purport to offer a variety of environmental values but fall short when it comes to style. As a member of the Top 5 in Real Estate Network®, however, I, along with my team, have access to many credible sources on the subject, such as Robin Wilson, a pioneer in the eco-friendly design sector, and Vickie Gilstrap, vice president of color and design for Mohawk's Residential Business. They offer the following areas to zero in on when greening your home ... while, of course, being mindful of design.
Carpet. Did you know that one out of every four recycled plastic bottles is made into carpet? That's more than 3 billion bottles each year! Choose carpet made from renewable or recycled materials.
Paint. Create a cozy space by painting an accent wall in a warm earth tone like cocoa or cinnamon. Choose paint that is non-toxic and contains little or no volatile organic compounds.
Pillows. Use certified organic fabrics to create window treatments or accent pillows. You'll be surprised at the variety of colors and patterns available.
Floors. When choosing hardwood flooring, using reclaimed wood adds a touch of antique, natural beauty to your home.
Counters. Look for those made from recycled glass, ceramic or sustainable bamboo. Use them in both your kitchen and your bathroom.
Accessories. Don't just throw away your older items -- breathe new life into vintage pieces instead by pairing them with fresh accessories. Reupholster an old arm chair or add an accent pillow to give it a fresh, new look.
Lighting. Install dimmable compact fluorescent lights, which can consume up to 75% less electricity and last 10 times longer than standard incandescent bulbs.
Bathrooms. A new shower curtain can update the entire look of your bathroom. Opt for nylon, which is one of the more eco-friendly materials available.
Faucets. Look for faucets with the WaterSense label, which can save the average household more than 500 gallons of water each year and hundreds of dollars in utility bills.
Bedrooms. Transform your bedroom with eco-friendly bedding. Duvets, shams and linens are available in organic materials and recycled yarn.
Thankfully, manufacturers are answering the consumer demand for eco-friendly products that are also beautifully designed.
For more information or to share your ideas on great green products for the home, please email us at robbi@robbicampbell.com. And be sure to pass this email on to your other eco-conscious family and friends.
Saturday, October 30, 2010
10 Tips for Hiring a Home Remodeling Contractor!
Given the economic difficulties that still exist, it's not surprising that many homeowners are looking to home improvement and renovation, rather than buying a new home.
When deciding to undertake a remodeling project, however, there are several invaluable tips to keep in mind as you discuss your home makeover with potential contractors.
Thanks to our network of leading real estate professionals, the Top 5 in Real Estate Network®, I, along with my team, can offer tips to make your home renovation a more streamlined, more palatable experience, courtesy of Stageoflife.com:
Tip #1: Does Your Contractor Have Proof of Insurance?Ask the contractor to have his insurance company mail or fax a copy of his current contractor insurance card to you. If the contractor can't do this, stay away. Why? If there is an accident at your home, you are then liable. This also applies to any sub-contractor or employee that the contractor may use; those individuals should have active insurance cards faxed or mailed to you as well.
Tip #2: Did You Check References and See Photos?Ask for at least three references — with two of them being for the same type of project you are planning — and then call the references. Additionally, ask the contractor to provide photos of previous work, especially for the same type of project. If he produces lawn and garden photos and you're planning a bathroom remodel, you may want to check out another contractor.
Tip #3: Does Your Contractor Take Debit or Credit Cards?Besides your ability to earn a few points, bonus miles or cash back on your project, a good sign that a contractor is financially savvy and has a bank behind his business is his ability to take debit and credit cards. This doesn't just apply to big contracting companies. Many small, one-man shops will take cards if they have a good relationship with their business bank or credit union.
Tip #4: Manners and Appearance?If the contractor drove his vehicle to your home to give you an estimate, take a look at the way he keeps the equipment and vehicle. Are things clean? Neatly arranged? If not, that's a big warning. The way a contractor treats his tools is a direct connection to how he'll treat your home. During the initial meeting, does the contractor present himself in a professional way? Do you feel comfortable around him or his employees? They will be working in your home after all.
Tip #5: Clean-Up Policy?Ask about the clean-up policy. For example, if your home improvement is a multi-day project, will the contractor be cleaning up at the end of every day or will he leave the dust, wood chips, and other mess laying there for day two? The more mess in your home ... the more it gets tracked around. Many homeowners find themselves with mouths gaping wide after the contractor has left for the day and their floors and home are dirty and messy around the project area.
Tip #6: Will the Contractor Put It In Writing?Is your contractor willing to put both his bid and the scope of work in writing? If not, walk away immediately. You'll be surprised how many homeowners have been duped by contractors who verbally tell you what's included in their scope of work, but will then, in the middle of everything, require extra money to finish the remodel, thus holding you hostage with an uncompleted home project.
Tip #7: Availability?Can the contractor get the job done in your timeline rather than his? There's nothing more frustrating than if a contractor tells you that a job will be done by a certain date and then it isn't. On the flip side, if you can't find a good contractor that's willing to commit to your timeline, your expectations may be too high and you may need to adjust your timeline.
Tip #8: Does Your Contractor Use "Subs?"Does your contractor plan on doing everything himself? Or will he "sub out" work to the "trades?" For example, if you are remodeling a bathroom, you may need a plumber, electrician and carpenter. It's okay if the contractor subs work out to these specific trades — it shows he wants the work done right.
Tip #9: Quoting & Billing Procedure?Ask the contractor about his quoting procedure. Will it contain general information, or will it be specific? For example, most contractors will charge you for a fuel surcharge, material up-charges, waste removal, labor, etc. Some will show you these exact costs in a line item invoice, but others roll it up into one big bill. How much detail do you want? You should clarify that with your contractor upfront.
Also, what is the payment or billing policy? Is money required upfront? If so, go back to #1 and #2 above to make sure you have the contractor's references checked and have a copy of his contractor's insurance.
Tip #10: Did Your Contractor Get the Permits?Ask your contractor to take care of the permits. Although permits cost you money, the inspection process is meant to protect you from poor workmanship and to make sure that everything is being built to code.
For more information on home improvement and renovation, please e-mail our team and please feel free to forward these tips to any family and friends.
With warmest regards,
Robbi Campbell
Windermere Exclusive Properties
Office: 858-436-3290
Mobile: 858-229-0649
Robbi@RobbiCampbell.com
http://www.RobbiCampbell.com
When deciding to undertake a remodeling project, however, there are several invaluable tips to keep in mind as you discuss your home makeover with potential contractors.
Thanks to our network of leading real estate professionals, the Top 5 in Real Estate Network®, I, along with my team, can offer tips to make your home renovation a more streamlined, more palatable experience, courtesy of Stageoflife.com:
Tip #1: Does Your Contractor Have Proof of Insurance?Ask the contractor to have his insurance company mail or fax a copy of his current contractor insurance card to you. If the contractor can't do this, stay away. Why? If there is an accident at your home, you are then liable. This also applies to any sub-contractor or employee that the contractor may use; those individuals should have active insurance cards faxed or mailed to you as well.
Tip #2: Did You Check References and See Photos?Ask for at least three references — with two of them being for the same type of project you are planning — and then call the references. Additionally, ask the contractor to provide photos of previous work, especially for the same type of project. If he produces lawn and garden photos and you're planning a bathroom remodel, you may want to check out another contractor.
Tip #3: Does Your Contractor Take Debit or Credit Cards?Besides your ability to earn a few points, bonus miles or cash back on your project, a good sign that a contractor is financially savvy and has a bank behind his business is his ability to take debit and credit cards. This doesn't just apply to big contracting companies. Many small, one-man shops will take cards if they have a good relationship with their business bank or credit union.
Tip #4: Manners and Appearance?If the contractor drove his vehicle to your home to give you an estimate, take a look at the way he keeps the equipment and vehicle. Are things clean? Neatly arranged? If not, that's a big warning. The way a contractor treats his tools is a direct connection to how he'll treat your home. During the initial meeting, does the contractor present himself in a professional way? Do you feel comfortable around him or his employees? They will be working in your home after all.
Tip #5: Clean-Up Policy?Ask about the clean-up policy. For example, if your home improvement is a multi-day project, will the contractor be cleaning up at the end of every day or will he leave the dust, wood chips, and other mess laying there for day two? The more mess in your home ... the more it gets tracked around. Many homeowners find themselves with mouths gaping wide after the contractor has left for the day and their floors and home are dirty and messy around the project area.
Tip #6: Will the Contractor Put It In Writing?Is your contractor willing to put both his bid and the scope of work in writing? If not, walk away immediately. You'll be surprised how many homeowners have been duped by contractors who verbally tell you what's included in their scope of work, but will then, in the middle of everything, require extra money to finish the remodel, thus holding you hostage with an uncompleted home project.
Tip #7: Availability?Can the contractor get the job done in your timeline rather than his? There's nothing more frustrating than if a contractor tells you that a job will be done by a certain date and then it isn't. On the flip side, if you can't find a good contractor that's willing to commit to your timeline, your expectations may be too high and you may need to adjust your timeline.
Tip #8: Does Your Contractor Use "Subs?"Does your contractor plan on doing everything himself? Or will he "sub out" work to the "trades?" For example, if you are remodeling a bathroom, you may need a plumber, electrician and carpenter. It's okay if the contractor subs work out to these specific trades — it shows he wants the work done right.
Tip #9: Quoting & Billing Procedure?Ask the contractor about his quoting procedure. Will it contain general information, or will it be specific? For example, most contractors will charge you for a fuel surcharge, material up-charges, waste removal, labor, etc. Some will show you these exact costs in a line item invoice, but others roll it up into one big bill. How much detail do you want? You should clarify that with your contractor upfront.
Also, what is the payment or billing policy? Is money required upfront? If so, go back to #1 and #2 above to make sure you have the contractor's references checked and have a copy of his contractor's insurance.
Tip #10: Did Your Contractor Get the Permits?Ask your contractor to take care of the permits. Although permits cost you money, the inspection process is meant to protect you from poor workmanship and to make sure that everything is being built to code.
For more information on home improvement and renovation, please e-mail our team and please feel free to forward these tips to any family and friends.
With warmest regards,
Robbi Campbell
Windermere Exclusive Properties
Office: 858-436-3290
Mobile: 858-229-0649
Robbi@RobbiCampbell.com
http://www.RobbiCampbell.com
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http://www.top5inrealestate.com/media/news/0/id/14105
Thursday, October 21, 2010
Top 5 Ways to Sell Your Home More Quickly!
Top 5 Ways to Sell Your Home More Quickly
If your home is on the market, or if you're planning to sell your home in the near future, you might be discouraged by the national media's rampant reports of increasing inventory and languishing sales.
While there is, indeed, plenty of inventory currently on the market, there are steps you can take as a home seller to ensure your home sells more quickly, while still garnering the maximum sales price possible. As a member of the Top 5 in Real Estate Network®, I -- along with my team -- have many years of experience working with home sellers and have learned a few strategies that really work toward securing a buyer more quickly.
First, for your home to sell more quickly, it must be exposed to the maximum number of buyers possible, so make sure your home is listed with a local brokerage that has a comprehensive understanding of your market area and knows how to employ technology to increase exposure. Find out how they will market your home online, what listing portals they will use, how they will utilize social media, how many pictures they will post, videos, etc.
While it's understandable that you’d like the largest downpayment possible from a buyer, be willing to accept a smaller downpayment, provided the buyer has been preapproved for a loan. This can make a huge difference to cash-strapped buyers.
Do some legwork and ask your real estate agent for a tour of competitive properties. This will help distinguish what features of your home you should highlight or what small changes you can make to give your home an edge over the competition.
Choose your battles and understand where certain concessions might work in your favor. In a slow market, for example, it may be better to pay a "seller contribution" to help buyers offset closing costs than to lower the sale price. While a seller contribution may be smaller than a price reduction, it is often more attractive to buyers who need cash to close.
Consider including some value-added items in the sale of your home, such as the swing set in the backyard, the washer and dryer, or items of furniture that buyers fall in love with and/or really need. A few freebies might be just what you need to close the deal.
If you would like to learn other ideas for selling your home more quickly, please e-mail our team. Also, please forward this email on to anyone else in your network that has concerns about effectively selling their home.
If your home is on the market, or if you're planning to sell your home in the near future, you might be discouraged by the national media's rampant reports of increasing inventory and languishing sales.
While there is, indeed, plenty of inventory currently on the market, there are steps you can take as a home seller to ensure your home sells more quickly, while still garnering the maximum sales price possible. As a member of the Top 5 in Real Estate Network®, I -- along with my team -- have many years of experience working with home sellers and have learned a few strategies that really work toward securing a buyer more quickly.
First, for your home to sell more quickly, it must be exposed to the maximum number of buyers possible, so make sure your home is listed with a local brokerage that has a comprehensive understanding of your market area and knows how to employ technology to increase exposure. Find out how they will market your home online, what listing portals they will use, how they will utilize social media, how many pictures they will post, videos, etc.
While it's understandable that you’d like the largest downpayment possible from a buyer, be willing to accept a smaller downpayment, provided the buyer has been preapproved for a loan. This can make a huge difference to cash-strapped buyers.
Do some legwork and ask your real estate agent for a tour of competitive properties. This will help distinguish what features of your home you should highlight or what small changes you can make to give your home an edge over the competition.
Choose your battles and understand where certain concessions might work in your favor. In a slow market, for example, it may be better to pay a "seller contribution" to help buyers offset closing costs than to lower the sale price. While a seller contribution may be smaller than a price reduction, it is often more attractive to buyers who need cash to close.
Consider including some value-added items in the sale of your home, such as the swing set in the backyard, the washer and dryer, or items of furniture that buyers fall in love with and/or really need. A few freebies might be just what you need to close the deal.
If you would like to learn other ideas for selling your home more quickly, please e-mail our team. Also, please forward this email on to anyone else in your network that has concerns about effectively selling their home.
Saturday, June 12, 2010
Easy Ways to Cut Summer Energy Costs!
With summer officially upon us, many homeowners will be confronted with rising electric bills as fans and air conditioners kick into high gear in an effort to keep cool. Demand for electricity can also increase if you have house guests or children home for the summer.
As a member of the Top 5 in Real Estate Network®, I, along with my team, have access to lots of great ideas for planning ahead to control energy costs this summer. The following tips are from the experts at Public Service Electric and Gas Company (PSE&G):
Use ceiling fans in the counter-clockwise direction to create a wind-chill effect, making you feel cooler. Also, whole-house fans that bring in cooler night-time air can pre-cool a house and reduce energy use in the daytime if heat is kept out by closing windows and shades.
Install a programmable thermostat. If health conditions permit, raise the setting from 73 to 78 degrees. You can save 3-5% on your air conditioning costs for each degree you raise the thermostat.
Close doors leading to uncooled parts of your home. If you have central air conditioning, close off vents to unused rooms and be sure to keep filters clean.
Plant shade trees close to the house on the South and West sides.
Seal holes and cracks around doors and windows.
Eliminate air leaks between window air conditioners and windows with foam insulation or weather-stripping.
Turn off power sources. TVs, computers and other electronic devices draw power when they are in standby mode or turned off but still plugged in. Plug electronics into power strips and turn off the power switch when the items are not in use.
Switch to compact fluorescent light bulbs (CFLs), which use 75% less electricity and burn more coolly than incandescent bulbs. Keep in mind that CFLs are especially handy in hard-to-reach fixtures and won't need to be replaced for about five years.
Use timers and motion detectors on indoor and outdoor lighting.
Delay heat-producing tasks such as laundry until later in the day. Wash full loads, using cold water whenever possible. Run the dishwasher at night, using the shortest cycle that will get the dishes clean. If manufacturers' directions permit, turn the dishwasher off before the dry cycle or use the air dry feature if your machine has one.
Take short showers as they use less hot water than a bath.
Replace old appliances with new energy efficient Energy Star appliances.
Unplug the extra refrigerator in your garage or basement and use it only when necessary. Refrigerators that are only 10 years old can use twice as much electricity as new Energy Star labeled models.
For more information on preparing your home for summer, please e-mail our team at robbi@robbicampbell.com. We encourage you to pass this email along to your friends and family as well.
As a member of the Top 5 in Real Estate Network®, I, along with my team, have access to lots of great ideas for planning ahead to control energy costs this summer. The following tips are from the experts at Public Service Electric and Gas Company (PSE&G):
Use ceiling fans in the counter-clockwise direction to create a wind-chill effect, making you feel cooler. Also, whole-house fans that bring in cooler night-time air can pre-cool a house and reduce energy use in the daytime if heat is kept out by closing windows and shades.
Install a programmable thermostat. If health conditions permit, raise the setting from 73 to 78 degrees. You can save 3-5% on your air conditioning costs for each degree you raise the thermostat.
Close doors leading to uncooled parts of your home. If you have central air conditioning, close off vents to unused rooms and be sure to keep filters clean.
Plant shade trees close to the house on the South and West sides.
Seal holes and cracks around doors and windows.
Eliminate air leaks between window air conditioners and windows with foam insulation or weather-stripping.
Turn off power sources. TVs, computers and other electronic devices draw power when they are in standby mode or turned off but still plugged in. Plug electronics into power strips and turn off the power switch when the items are not in use.
Switch to compact fluorescent light bulbs (CFLs), which use 75% less electricity and burn more coolly than incandescent bulbs. Keep in mind that CFLs are especially handy in hard-to-reach fixtures and won't need to be replaced for about five years.
Use timers and motion detectors on indoor and outdoor lighting.
Delay heat-producing tasks such as laundry until later in the day. Wash full loads, using cold water whenever possible. Run the dishwasher at night, using the shortest cycle that will get the dishes clean. If manufacturers' directions permit, turn the dishwasher off before the dry cycle or use the air dry feature if your machine has one.
Take short showers as they use less hot water than a bath.
Replace old appliances with new energy efficient Energy Star appliances.
Unplug the extra refrigerator in your garage or basement and use it only when necessary. Refrigerators that are only 10 years old can use twice as much electricity as new Energy Star labeled models.
For more information on preparing your home for summer, please e-mail our team at robbi@robbicampbell.com. We encourage you to pass this email along to your friends and family as well.
Tuesday, June 8, 2010
Just Listed! 4838 Riding Ridge Road! Palisades Carmel Valley San Diego, CA 92130
Traditional sale! Desirable Palisades plan 1 with fabulous upgrades including Pergo flooring, slab granite kitchen counters, stainless viking Professional 6 burner range and hood,plantation shutters, ceiling fans. Lovely backyard with stamped concrete patio area, overhead patio cover, grassy play area, raised planters and specimen trees! One bedroom/bath down. Spacious master bedroom suite upstairs with large walk-in closet. No HOA fees! Walking distance to Ashley Falls School & Park. Priced to sell at $839,900!!
Call us at 858-436-3290 for more info!
Call us at 858-436-3290 for more info!
Tuesday, June 1, 2010
New Home For Sale at 13335 Roxton Circle, the Heights in Carmel Valley, San Diego
New Home for Sale at 13335 Roxton Circle priced to sell at $899,900!
This Heights, plan 3 home is located on a quiet established street with lovely eastern views (no home behind!). This home has the master bedroom downstairs. The backyard has a lap pool and fruit trees! Call Brad Fomon at 858-775-6460 for more information!!
This Heights, plan 3 home is located on a quiet established street with lovely eastern views (no home behind!). This home has the master bedroom downstairs. The backyard has a lap pool and fruit trees! Call Brad Fomon at 858-775-6460 for more information!!
Sunday, May 23, 2010
New Listing in Del Mar - Gorgeous Contemporary 4 Bedroom home at 14905 Arroyo Rosita!
14905 Arroyo Rosita - Contemporary 4 bedroom home for sale on 1.3 acres!
Gorgeous Contemporary 4 bedroom home located on 1.3 acre in a quiet private 4 home gated community on the border between Del Mar and Rancho Santa Fe communities. This home features a very beautiful setting complete with a tree lined driveway, sparkling pool & spa, built-in BBQ, lush tropical landscaping which includes specimen trees and plants, rose bushes and fruit tree orchard, spectacular cathedral ceilings, slate and wood floors, stainless appliances, and slab granite counters. The spacious master bedroom suite is on the main floor that includes a sauna in the master bath. This home is located conveniently close to shopping, restaurant, beaches, schools, parks and freeway access. This home is currently being offered for sale at $1,899,000.
Gorgeous Contemporary 4 bedroom home located on 1.3 acre in a quiet private 4 home gated community on the border between Del Mar and Rancho Santa Fe communities. This home features a very beautiful setting complete with a tree lined driveway, sparkling pool & spa, built-in BBQ, lush tropical landscaping which includes specimen trees and plants, rose bushes and fruit tree orchard, spectacular cathedral ceilings, slate and wood floors, stainless appliances, and slab granite counters. The spacious master bedroom suite is on the main floor that includes a sauna in the master bath. This home is located conveniently close to shopping, restaurant, beaches, schools, parks and freeway access. This home is currently being offered for sale at $1,899,000.
Thursday, May 20, 2010
Top 5 Ways to Use your Tax Refund!
Thousands of Americans are receiving income tax refunds from the U.S. government, with the IRS reporting an average refund of $2,940 this year. In the current economy, consumers can make strategic choices to make sure that refund pays off for them.As a member of the Top 5 in Real Estate Network®, I, along with my team, are always happy to forward any information that might be of interest and/or help to you.
According to Freedom Tax Relief (www.freedomtaxrelief.com), many tax refund recipients might be thinking of creative ways to spend that cash as the economy starts to recover. But before getting carried away, they suggest thinking more long term. Freedom Tax Relief suggests the following as the top ways to wisely spend an income tax refund:
1. Pay down credit card and other high-interest debts (including payday loans). Few investments can top the rate of return for eliminating debt. Paying off credit card debt at typical interest rates effectively makes an investment that returns 20 percent or more per year. The only caveat: Be certain you change your mindset as well. If you pay off debts, only to charge up the credit cards or sign for a new car loan a few months later, you have ultimately gained nothing. If credit card debt is your problem, cut up or freeze your credit cards to ensure you do not re-create the same problem you have left behind. Use a debit card for future purchases that require a card. Ready to pay down your debt? List and pay secured debts first (mortgage, car). Mortgage payments should take absolute priority. Then list unsecured debts (credit cards, loans) in order of highest interest rates. Make minimum payments on all but the highest-rate card. Use every cent of available income to make large payments on the card with the highest rate. When that card is paid off, apply the big payment plus the old minimum payment on the next-highest rate card until it is paid off. Continue until all debt is eliminated.
2. Create an emergency fund.
The Great Recession has pointed out the importance of an emergency fund. Those who do not yet have enough readily accessible money set aside to cover several months' worth of expenses should consider a tax refund a prime opportunity to create a fund that ultimately includes 6-9 months' living expenses. These amounts are not necessarily equal to salary. Instead, they should include only what the household would spend if it were in dire straits. House these savings in a money market fund or rolling CDs so that the money earns interest and cannot easily be spent -- but can be accessed in an emergency.
3. Make sure you have adequate insurance.
Everyone should have health, auto, and home or renters insurance. If dependents rely on breadwinners' income, look into life insurance. Consider an umbrella policy to protect from additional liability. And if the household could not survive without an income, purchase disability coverage. This is a huge savings step – one trip to the emergency room or one minor accident can easily end up costing thousands or tens of thousands of dollars out of pocket.
4. Fund the future.
Contribute to retirement savings, whether an individual or Roth IRA, 401(k) or other plan.
5. Invest in the home.
Homeowners might consider using refunds to cover major or minor maintenance to make sure no bigger (and more expensive) problems arise down the road. In addition, these capital improvements can create additional equity in a home. No matter how big or small the amount, and despite the temptation to celebrate and splurge, make your choice on what to do with any refund carefully, experts say. Take time to make sure your money works for you and helps build wealth.For more information, please call Robbi Campbell Properties at 858-436-3290 or e-mail our team, and please forward this email on to anyone you believe will benefit.
According to Freedom Tax Relief (www.freedomtaxrelief.com), many tax refund recipients might be thinking of creative ways to spend that cash as the economy starts to recover. But before getting carried away, they suggest thinking more long term. Freedom Tax Relief suggests the following as the top ways to wisely spend an income tax refund:
1. Pay down credit card and other high-interest debts (including payday loans). Few investments can top the rate of return for eliminating debt. Paying off credit card debt at typical interest rates effectively makes an investment that returns 20 percent or more per year. The only caveat: Be certain you change your mindset as well. If you pay off debts, only to charge up the credit cards or sign for a new car loan a few months later, you have ultimately gained nothing. If credit card debt is your problem, cut up or freeze your credit cards to ensure you do not re-create the same problem you have left behind. Use a debit card for future purchases that require a card. Ready to pay down your debt? List and pay secured debts first (mortgage, car). Mortgage payments should take absolute priority. Then list unsecured debts (credit cards, loans) in order of highest interest rates. Make minimum payments on all but the highest-rate card. Use every cent of available income to make large payments on the card with the highest rate. When that card is paid off, apply the big payment plus the old minimum payment on the next-highest rate card until it is paid off. Continue until all debt is eliminated.
2. Create an emergency fund.
The Great Recession has pointed out the importance of an emergency fund. Those who do not yet have enough readily accessible money set aside to cover several months' worth of expenses should consider a tax refund a prime opportunity to create a fund that ultimately includes 6-9 months' living expenses. These amounts are not necessarily equal to salary. Instead, they should include only what the household would spend if it were in dire straits. House these savings in a money market fund or rolling CDs so that the money earns interest and cannot easily be spent -- but can be accessed in an emergency.
3. Make sure you have adequate insurance.
Everyone should have health, auto, and home or renters insurance. If dependents rely on breadwinners' income, look into life insurance. Consider an umbrella policy to protect from additional liability. And if the household could not survive without an income, purchase disability coverage. This is a huge savings step – one trip to the emergency room or one minor accident can easily end up costing thousands or tens of thousands of dollars out of pocket.
4. Fund the future.
Contribute to retirement savings, whether an individual or Roth IRA, 401(k) or other plan.
5. Invest in the home.
Homeowners might consider using refunds to cover major or minor maintenance to make sure no bigger (and more expensive) problems arise down the road. In addition, these capital improvements can create additional equity in a home. No matter how big or small the amount, and despite the temptation to celebrate and splurge, make your choice on what to do with any refund carefully, experts say. Take time to make sure your money works for you and helps build wealth.For more information, please call Robbi Campbell Properties at 858-436-3290 or e-mail our team, and please forward this email on to anyone you believe will benefit.
Wednesday, May 19, 2010
New Home for Sale at 13118 Sea Knoll Court, Carmel Valley 92130
Come see our new home for sale at 13118 Sea Knoll Court! Priced to sell at $1,124,900! For more photos and virtual tour, click here
Call Robbi Campbell Properties at 858-436-3290 or email at robbi@robbicampbell.com for any questions or more info!
Call Robbi Campbell Properties at 858-436-3290 or email at robbi@robbicampbell.com for any questions or more info!
Tuesday, May 18, 2010
New Home for Sale at 13118 Sea Knoll Court, Carmel Valley 92130
New Home for Sale at 13118 Sea Knoll Court, San Diego, Carmel Valley, 92130.
1st time on market! Beautiful plan 1 Huntington Heights home on quiet established cul-de-sac street! Gated courtyard entrance! Pecan wood and limestone floors. Optional fireplace in living room. Cathedral ceilings, crown moulding, wood cased windows, neutral paint and carpet, Granite counters in kitchen. Lovely western facing backyard with grassy play area, stone platner walls, specimen trees and roses! Security system, dual Air conditioning, walter filtration system. Walking distance to Ashley Falls school and park, Temple Beth Am, and Cathedral High school. No HOA fees. Call Robbi Campbell Properties for questions at 858-436-3290!
1st time on market! Beautiful plan 1 Huntington Heights home on quiet established cul-de-sac street! Gated courtyard entrance! Pecan wood and limestone floors. Optional fireplace in living room. Cathedral ceilings, crown moulding, wood cased windows, neutral paint and carpet, Granite counters in kitchen. Lovely western facing backyard with grassy play area, stone platner walls, specimen trees and roses! Security system, dual Air conditioning, walter filtration system. Walking distance to Ashley Falls school and park, Temple Beth Am, and Cathedral High school. No HOA fees. Call Robbi Campbell Properties for questions at 858-436-3290!
Thursday, May 6, 2010
Top 5 Remodeling Headaches to Avoid!
Whether you’re adding a room to accommodate an expanding family or remodeling to increase value, home renovations can be one of the best investments you make, especially in today’s economy. The key to a successful remodel, however, is knowing what mistakes to avoid.
As a member of the Top 5 in Real Estate Network®, We have advised many clients on what renovations will offer the best return on their investment and pay dividends when the time comes to sell their home.
According to a Consumer Reports poll, the most popular remodeling projects for homeowners are kitchens (19%) and bathrooms (17%). In another survey, however, Consumer Reports asked 6,000 readers to reveal what went wrong when they remodeled their kitchens and baths and how much those mistakes added to the overall cost of their projects. Here's how to avoid their mistakes and save:
1.Don't rush in. Changing plans is the most common, but costliest remodeling gaffe. Be sure to leave time for research and create a comprehensive plan, listing every product.
2.Prepare for the unexpected. There's a lot going on behind the walls. Unexpected water damage was an issue with 17% of bathroom remodels, while structural problems caused headaches for 10% of kitchen projects. A good contractor will be able to anticipate such problems, allowing the homeowner to budget accordingly.
3.Don't chase the “low ball.” Contractors are lowering their profit margins due to the tight market, but they often make up their costs in labor or other areas. Readers who went for “low-ball” pricing ended up spending a median of $1,500 extra for labor on their kitchens and $1,000 extra on their bathrooms. Don't sign a contract with a lot of open-ended amounts for products and materials—these are called "allowances," in contractor speak.
4.Get the paperwork in order. Have the contractor attach copies of his or her up-to-date license, insurance, and workers' compensation policies to the written contract. He or she should also get permits and provide a lien waiver when the job is done; this will keep suppliers from contacting the homeowner for unpaid bills.
5.Focus on the boring bits. Specifying lighting and placement of trash cans are not much fun, but are critical to the process. For example, the proper exhaust fan will prevent mildew in baths and vent odors in kitchens.
Following the above advice will help ensure a successful—and profitable—remodel. For more information or for contractor referrals, please e-mail us at robbi@robbicampbell.com or call at 858-436-3292. And please forward this on to anyone you know in the midst of remodeling— don’t let them make these same mistakes!
As a member of the Top 5 in Real Estate Network®, We have advised many clients on what renovations will offer the best return on their investment and pay dividends when the time comes to sell their home.
According to a Consumer Reports poll, the most popular remodeling projects for homeowners are kitchens (19%) and bathrooms (17%). In another survey, however, Consumer Reports asked 6,000 readers to reveal what went wrong when they remodeled their kitchens and baths and how much those mistakes added to the overall cost of their projects. Here's how to avoid their mistakes and save:
1.Don't rush in. Changing plans is the most common, but costliest remodeling gaffe. Be sure to leave time for research and create a comprehensive plan, listing every product.
2.Prepare for the unexpected. There's a lot going on behind the walls. Unexpected water damage was an issue with 17% of bathroom remodels, while structural problems caused headaches for 10% of kitchen projects. A good contractor will be able to anticipate such problems, allowing the homeowner to budget accordingly.
3.Don't chase the “low ball.” Contractors are lowering their profit margins due to the tight market, but they often make up their costs in labor or other areas. Readers who went for “low-ball” pricing ended up spending a median of $1,500 extra for labor on their kitchens and $1,000 extra on their bathrooms. Don't sign a contract with a lot of open-ended amounts for products and materials—these are called "allowances," in contractor speak.
4.Get the paperwork in order. Have the contractor attach copies of his or her up-to-date license, insurance, and workers' compensation policies to the written contract. He or she should also get permits and provide a lien waiver when the job is done; this will keep suppliers from contacting the homeowner for unpaid bills.
5.Focus on the boring bits. Specifying lighting and placement of trash cans are not much fun, but are critical to the process. For example, the proper exhaust fan will prevent mildew in baths and vent odors in kitchens.
Following the above advice will help ensure a successful—and profitable—remodel. For more information or for contractor referrals, please e-mail us at robbi@robbicampbell.com or call at 858-436-3292
Tuesday, May 4, 2010
Thursday, April 29, 2010
ROBBI CAMPBELL PROPERTIES FEATURES HOMES SEEN ABOVE ALL OTHERS ON THE #1 HOME SEARCHING SITE, REALTOR.COM IN THE CARMEL VALLEY AREA!
SAN DIEGO, CA APRIL 30, 2010. Robbi Campbell Properties of Windermere Exclusive Properties features homes seen above all others in the area of Carmel Valley on the internet’s #1 real estate site,1 REALTOR.com®.
Robbi Campbell Properties offers the REALTOR.com® Featured Homes™ Marketing System, for their clients, so that when potential home buyers search for homes in the Carmel Valley/92130 zip code area, they will see Robbi Campbell Properties homes for sale prominently displayed first with color photographs. This high value, premium placement provides more exposure, which in turn creates increased demand and help sell homes for more.
In making the investment in the Featured Homes™ Marketing System, Robbi Campbell stated, “I want to ensure that the properties we market enjoy optimum shelf positioning online. What makes us different from other agents is how we help differentiate our properties from the other homes they compete against. Our Featured Homes™ property appears first not only on REALTOR.com®, but also MSN.”
Featured Homes™ is just one of the many ways Robbi Campbell Properties is leveraging recent trends of home buyer online behavior to their clients benefit.
Home sellers interested in finding out how to feature their home on REALTOR.com® and MSN should contact Robbi Campbell Properties at 858-436-3290 or email at robbi@robbicampbell.com
Robbi Campbell Properties offers the REALTOR.com® Featured Homes™ Marketing System, for their clients, so that when potential home buyers search for homes in the Carmel Valley/92130 zip code area, they will see Robbi Campbell Properties homes for sale prominently displayed first with color photographs. This high value, premium placement provides more exposure, which in turn creates increased demand and help sell homes for more.
In making the investment in the Featured Homes™ Marketing System, Robbi Campbell stated, “I want to ensure that the properties we market enjoy optimum shelf positioning online. What makes us different from other agents is how we help differentiate our properties from the other homes they compete against. Our Featured Homes™ property appears first not only on REALTOR.com®, but also MSN.”
Featured Homes™ is just one of the many ways Robbi Campbell Properties is leveraging recent trends of home buyer online behavior to their clients benefit.
Home sellers interested in finding out how to feature their home on REALTOR.com® and MSN should contact Robbi Campbell Properties at 858-436-3290 or email at robbi@robbicampbell.com
Top 5 Ways To Build a Green Home
Most of us know that adopting an environmentally-conscious or “green” approach to life can benefit the planet and its future generations. But did you know that greening your home can also benefit your bottom line in terms of energy savings and tax credits?
We’ve learned a lot of the latest green building strategies from clients and home builders we deal with. As a Member of the Top 5 in Real Estate Network®, I, along with my team, thought we’d share some innovative green building ideas from the National Association of Home Builders (NAHB, www.nahb.org) in case there’s a remodel or new-home build in your future:
1.The roof. According to NAHB, 75% of new homes use “oriented strand board” (OSB), an engineered wood product that does not require the use of large trees in its production, to sheathe roofs and walls. Additionally, durable roof coverings, such as steel and fiber cement, reduce the need for roof replacement and are a key part of many solar roofing products that lock in heat during winter and help keep homes cool in summer.
2.The windows. Energy-efficient windows that incorporate advanced technologies like low-emittance glass coatings, keep heat inside in winter and outside in summer. “Passive” solar design features like large, south-facing windows, also help heat the home in the winter and allow for abundant natural lighting.
3.The walls. Vinyl siding on exterior walls saves money on installation and maintenance; fiber-cement siding is termite- and water-resistant and warrantied to last 50 years. Increasing the amount and R-value of insulation is a cost-effective way to save energy and help reduce heating and cooling bills, which account for at least half of all energy use in the home.
4.The outside. “Xeriscaping,” or using native plants, can significantly reduce the need for watering, fertilizers and herbicides, and preserving trees on your property reduces energy costs by providing shade in summer and a wind barrier in winter. Also consider a covered entry for your front door, which can help prevent water intrusion and costly repairs.
5.The appliances. According to NAHB, the energy efficiency of refrigerators and freezers has tripled over the last three decades. Front-loading washers use about 40% less water and half the energy of conventional models. New toilets have redesigned bowls and tanks that use less water, while advanced shower and sink faucet aerators provide the same flow regardless of reduced water use.
Please consider the above green building ideas for your next construction project and forward this e-mail to anyone else who may be in construction mode. We’d be happy to answer any questions you may have or point you toward further green resources, so feel free to e-mail our team for more information.
We’ve learned a lot of the latest green building strategies from clients and home builders we deal with. As a Member of the Top 5 in Real Estate Network®, I, along with my team, thought we’d share some innovative green building ideas from the National Association of Home Builders (NAHB, www.nahb.org) in case there’s a remodel or new-home build in your future:
1.The roof. According to NAHB, 75% of new homes use “oriented strand board” (OSB), an engineered wood product that does not require the use of large trees in its production, to sheathe roofs and walls. Additionally, durable roof coverings, such as steel and fiber cement, reduce the need for roof replacement and are a key part of many solar roofing products that lock in heat during winter and help keep homes cool in summer.
2.The windows. Energy-efficient windows that incorporate advanced technologies like low-emittance glass coatings, keep heat inside in winter and outside in summer. “Passive” solar design features like large, south-facing windows, also help heat the home in the winter and allow for abundant natural lighting.
3.The walls. Vinyl siding on exterior walls saves money on installation and maintenance; fiber-cement siding is termite- and water-resistant and warrantied to last 50 years. Increasing the amount and R-value of insulation is a cost-effective way to save energy and help reduce heating and cooling bills, which account for at least half of all energy use in the home.
4.The outside. “Xeriscaping,” or using native plants, can significantly reduce the need for watering, fertilizers and herbicides, and preserving trees on your property reduces energy costs by providing shade in summer and a wind barrier in winter. Also consider a covered entry for your front door, which can help prevent water intrusion and costly repairs.
5.The appliances. According to NAHB, the energy efficiency of refrigerators and freezers has tripled over the last three decades. Front-loading washers use about 40% less water and half the energy of conventional models. New toilets have redesigned bowls and tanks that use less water, while advanced shower and sink faucet aerators provide the same flow regardless of reduced water use.
Please consider the above green building ideas for your next construction project and forward this e-mail to anyone else who may be in construction mode. We’d be happy to answer any questions you may have or point you toward further green resources, so feel free to e-mail our team for more information.
Thursday, April 22, 2010
How To Ensure A Smooth Move!
If you’re one of the many who have recently taken advantage of the first-time or move-up home buyer tax credit, or have just decided to move - whether you have bought a home or are renting - there is a move in your future. Unfortunately, I’ve seen the stresses of moving cast a cloud over the excitement our clients feel about heading to their new home, making for a nightmarish experience instead of a momentous occasion.
Thanks to our network of leading real estate professionals, the Top 5 in Real Estate Network®, and our relationships with top moving experts, I, along with my team, can offer several tips to make moving a more streamlined, more palatable experience:
• Put your move details in writing.Use a large notebook or binder to centralize all the important details of your move. It should contain detailed lists, including an inventory of boxes. Supplement this with a computer printout of box contents and e-mail it to yourself and a couple of other trusted sources as a back-up.
• Order boxes and moving supplies as far in advance as possible.It’s never too early to start packing as we all have items that are not currently in use—think winter clothes, your baseball card collection, holiday decorations. Moving companies may allow you to return unused boxes, so order more than you think you'll need, by 20%. Invest in the right tape to keep boxes securely fastened, some new Sharpie pens, and labels to color-code your move.
• Document your AV details.Take photos and notes on how your media equipment is set up: television, sound equipment, computer equipment, etc., in order to avoid an AV nightmare in your new home. Label all remotes and wires as well.
• Plan for your pets. Moving can be particularly stressful for animals. Consider leaving them with a friend or at a reputable pet boarding service.
• Plan for valuables and critical documents.Most homeowners insurance will not cover property in transit, so consider insuring certain items separately. Take photos for documentation to support loss or damage claims, and carry irreplaceable and legal items, like passports and birth certificates, with you.
• Choose a reputable moving company.Good companies that can guide you through the process will have a proven track record. Ask your friends or us for referrals.
• Keep your moving receipts for income tax deductions.In many cases, moving expenses are deductible from federal income taxes. If you are moving because of a change in employment, you may be able to claim this deduction even if you do not itemize.
For more information on making your move as painless as possible, please call us at 858-436-3290 or email us at robbi@robbicampbell.com for any questions or referrals for moving companies! Please feel free to forward these tips to any family and friends with a move in their future.
Thanks to our network of leading real estate professionals, the Top 5 in Real Estate Network®, and our relationships with top moving experts, I, along with my team, can offer several tips to make moving a more streamlined, more palatable experience:
• Put your move details in writing.Use a large notebook or binder to centralize all the important details of your move. It should contain detailed lists, including an inventory of boxes. Supplement this with a computer printout of box contents and e-mail it to yourself and a couple of other trusted sources as a back-up.
• Order boxes and moving supplies as far in advance as possible.It’s never too early to start packing as we all have items that are not currently in use—think winter clothes, your baseball card collection, holiday decorations. Moving companies may allow you to return unused boxes, so order more than you think you'll need, by 20%. Invest in the right tape to keep boxes securely fastened, some new Sharpie pens, and labels to color-code your move.
• Document your AV details.Take photos and notes on how your media equipment is set up: television, sound equipment, computer equipment, etc., in order to avoid an AV nightmare in your new home. Label all remotes and wires as well.
• Plan for your pets. Moving can be particularly stressful for animals. Consider leaving them with a friend or at a reputable pet boarding service.
• Plan for valuables and critical documents.Most homeowners insurance will not cover property in transit, so consider insuring certain items separately. Take photos for documentation to support loss or damage claims, and carry irreplaceable and legal items, like passports and birth certificates, with you.
• Choose a reputable moving company.Good companies that can guide you through the process will have a proven track record. Ask your friends or us for referrals.
• Keep your moving receipts for income tax deductions.In many cases, moving expenses are deductible from federal income taxes. If you are moving because of a change in employment, you may be able to claim this deduction even if you do not itemize.
For more information on making your move as painless as possible, please call us at 858-436-3290 or email us at robbi@robbicampbell.com for any questions or referrals for moving companies! Please feel free to forward these tips to any family and friends with a move in their future.
Friday, April 16, 2010
5073 McGill Way - Price Reduced today to $1,199,900!!
http://www.flashitfirst.com/Gallery/5073_mcgill_way_bt1
Just reduced today to $1,199,900! This beautiful plan 2 Sonoma home in Carmel Valley will be held open this Sunday from 1-4 PM! Located on a quiet culdesac bulb with southern views, this beautiful and dramatic 4 bdr + upstairs loft/office home features the 2 story luxurious master bedroom suite, an upgraded chef's drea...m kitchen with stainless appliances and slab granite counters, a tropical backyard with pool/spa and much more! Come by and visit us this Sunday at 5073 McGill Way!! Call us at 858-436-3290 for any questions! See the link above for the photo gallery and the virtual tour!!
Just reduced today to $1,199,900! This beautiful plan 2 Sonoma home in Carmel Valley will be held open this Sunday from 1-4 PM! Located on a quiet culdesac bulb with southern views, this beautiful and dramatic 4 bdr + upstairs loft/office home features the 2 story luxurious master bedroom suite, an upgraded chef's drea...m kitchen with stainless appliances and slab granite counters, a tropical backyard with pool/spa and much more! Come by and visit us this Sunday at 5073 McGill Way!! Call us at 858-436-3290 for any questions! See the link above for the photo gallery and the virtual tour!!
Thursday, April 15, 2010
FHA Lending Changes that Could Impact Real Estate Consumers!
Did you know that in 2009, the Federal Housing Administration (FHA) insured nearly 30% of the single-family mortgage market and that more than 50% of all first-time home buyers used FHA programs?
In today’s challenging credit climate, many home buyers and homeowners are turning to FHA for insurance, to purchase loans, and for refinancing options to get out of risky ARMs or subprime loans.
As a Member of the Top 5 in Real Estate Network®, I, along with our team, Robbi Campbell Properties, have access to information from the National Association of Realtors® (NAR) regarding recent and upcoming changes to FHA’s single-family program that could impact the use of these important programs for consumers in the future.
According to Jerome Nagy, senior regulatory policy representative at NAR, in order to replenish its dwindling reserves, FHA has implemented or proposed the following changes:
1. Mortgage Insurance Premium (MIP)FHA has increased the upfront MIP from 1.75% to 2.25% for borrowers while it awaits legislative authority to increase the annual premium. FHA stated it will decrease the upfront premium when they can increase the annual premium.
2. Credit Score ChangesFHA has proposed that borrowers with a credit score below 580 be required to make at least a 10% down payment. The minimum down payment will remain at 3.5% for all other borrowers.
3. Seller ConcessionsFHA intends to propose a rule to decrease allowable seller concessions from 6% to 3%. NAR plans to argue against this decrease since closing costs differ greatly among states, and with fees on services (such as appraisals) increasing, seller concessions can be a vital part of closing the transaction.
4. FHA Loan LimitsCurrent FHA loan limits are as high as $729,750 in high-cost areas, and are set to expire at the end of the year and revert to lower amounts, potentially putting a damper on a housing market rebound. A decrease of current limits would adversely affect 612 counties in 40 states and the District of Columbia, reports NAR, which is urging passage of legislation to make the loan limits permanent.
5. Condominium RulesFHA is delaying implementation of “Mortgagee Letter 2009-19” and making temporary enhancements to the policy instead, such as eliminating the owner-occupancy requirement for FHA condo mortgages and reducing the number of units sold prior to FHA’s endorsement of a unit from 50% to 30%.
Please feel free us at robbi@robbicampbell.com or call at 858-436-3292 for guidance on the above FHA programs and how changes might affect your particular situation. Also, please pass this article on to anyone you know who could be impacted by changes to FHA policy.
In today’s challenging credit climate, many home buyers and homeowners are turning to FHA for insurance, to purchase loans, and for refinancing options to get out of risky ARMs or subprime loans.
As a Member of the Top 5 in Real Estate Network®, I, along with our team, Robbi Campbell Properties, have access to information from the National Association of Realtors® (NAR) regarding recent and upcoming changes to FHA’s single-family program that could impact the use of these important programs for consumers in the future.
According to Jerome Nagy, senior regulatory policy representative at NAR, in order to replenish its dwindling reserves, FHA has implemented or proposed the following changes:
1. Mortgage Insurance Premium (MIP)FHA has increased the upfront MIP from 1.75% to 2.25% for borrowers while it awaits legislative authority to increase the annual premium. FHA stated it will decrease the upfront premium when they can increase the annual premium.
2. Credit Score ChangesFHA has proposed that borrowers with a credit score below 580 be required to make at least a 10% down payment. The minimum down payment will remain at 3.5% for all other borrowers.
3. Seller ConcessionsFHA intends to propose a rule to decrease allowable seller concessions from 6% to 3%. NAR plans to argue against this decrease since closing costs differ greatly among states, and with fees on services (such as appraisals) increasing, seller concessions can be a vital part of closing the transaction.
4. FHA Loan LimitsCurrent FHA loan limits are as high as $729,750 in high-cost areas, and are set to expire at the end of the year and revert to lower amounts, potentially putting a damper on a housing market rebound. A decrease of current limits would adversely affect 612 counties in 40 states and the District of Columbia, reports NAR, which is urging passage of legislation to make the loan limits permanent.
5. Condominium RulesFHA is delaying implementation of “Mortgagee Letter 2009-19” and making temporary enhancements to the policy instead, such as eliminating the owner-occupancy requirement for FHA condo mortgages and reducing the number of units sold prior to FHA’s endorsement of a unit from 50% to 30%.
Please feel free us at robbi@robbicampbell.com or call at 858-436-3292 for guidance on the above FHA programs and how changes might affect your particular situation. Also, please pass this article on to anyone you know who could be impacted by changes to FHA policy.
Monday, April 12, 2010
Home Buyers See Value in Hardwood Floors!
April 12, 2010—According to the National Association of Realtors, hardwood floors are among the most sought-after house features of prospective home buyers. That is why Mr. Sandless is encouraging home sellers to make sure their wood flooring is in tip-top shape.
Mr. Sandless Founder and CEO Daniel Praz recommends that homeowners follow the steps below before placing their home on the market:
Evaluate your floors: The first step to determine if your floors need refinishing is to simply give them a good look. Are there areas where the sheen is uneven, or where the finish is missing completely? Are there sections or areas on the floor where there are boards that are turning grey or black? These are all good signs that a floor refinishing is needed. It is not a good idea to simply ignore these signs because if the finish is worn off your floor, board damage could occur, making the refinishing process a costly one with board replacement.
Consult a professional: Wood floor refinishing is not something you want to try on your own. While many rental places and big box stores will rent you the equipment to attempt to sand your floor, it takes a solid year of apprenticeship to learn to handle a sanding machine properly. Without this training, you can ruin your floor in just a few moments. Professional floor refinishers have the training, system and know-how to make refinishing a simple and affordable process without moving out of your home.
Choose a sheen: The sheen you choose for your floors directly impacts the entire feel of your home, so don’t be afraid to experiment by asking your professional to show you samples of gloss, semi-gloss and satin finish. A gloss look can add a ‘wow’ factor to the showing of your home, where a satin look will present a more subtle appearance. Choose what is best for the look and feel of your home.
Mr. Sandless Founder and CEO Daniel Praz recommends that homeowners follow the steps below before placing their home on the market:
Evaluate your floors: The first step to determine if your floors need refinishing is to simply give them a good look. Are there areas where the sheen is uneven, or where the finish is missing completely? Are there sections or areas on the floor where there are boards that are turning grey or black? These are all good signs that a floor refinishing is needed. It is not a good idea to simply ignore these signs because if the finish is worn off your floor, board damage could occur, making the refinishing process a costly one with board replacement.
Consult a professional: Wood floor refinishing is not something you want to try on your own. While many rental places and big box stores will rent you the equipment to attempt to sand your floor, it takes a solid year of apprenticeship to learn to handle a sanding machine properly. Without this training, you can ruin your floor in just a few moments. Professional floor refinishers have the training, system and know-how to make refinishing a simple and affordable process without moving out of your home.
Choose a sheen: The sheen you choose for your floors directly impacts the entire feel of your home, so don’t be afraid to experiment by asking your professional to show you samples of gloss, semi-gloss and satin finish. A gloss look can add a ‘wow’ factor to the showing of your home, where a satin look will present a more subtle appearance. Choose what is best for the look and feel of your home.
Saturday, April 10, 2010
Tax Credits and Deductions that Relate to Home Ownership!
RISMEDIA, April 10, 2010—Buying and owning a home is not only an important step in life, it’s an area rich with benefits when it comes to filing an annual tax return. Jackson Hewitt Tax Service reminds last-minute tax filers not to forget or overlook the many tax credits and deductions that relate to home ownership.
“From the special tax credit for first-time home buyers, to the numerous tax incentives for making energy-efficient changes to a home, there are multiple reasons for taxpayers to speak with a tax preparer and ensure they take advantage of all home ownership-related credits and deductions for which they are eligible,” said Mark Steber, chief tax officer, Jackson Hewitt Tax Service Inc.
Steber reminds homeowners to keep the following tax benefits top-of-mind as they gather their tax-related documents to have their tax return prepared in the coming days:
-First Time Home Buyer Credit: This credit gives first-time home buyers the ability to claim a refundable credit of up to $8,000 ($4,000 if filing separately), provided that they are locked into a contract to close by midnight on April 30, 2010 and close on the home by midnight on June 30, 2010.
-Long-Time Home Buyer Credit: Taxpayers (and their spouses) who have lived in their home for five consecutive years out of the eight years preceding closing on a new house may qualify for a reduced credit of $6,500 ($3,250 if filing separately).
-New Home Energy Credits: Taxpayers can receive a credit for making their homes more energy efficient by caulking doors and windows, adding new insulation to attics, buying an energy-efficient hot water heater or air conditioner and more. The credit amount is a total of 30% of the cost of qualifying improvements, up to $1,500 for tax year 2009 and 2010.
-Tax Deductions and Buying a Home: Most of the expenses incurred when buying a home are not deductible. Yet there are certain closing costs (such as brokers’ commissions, attorney’s fees, recording fees, abstract fees, surveys, title searches, owner’s title insurance policy and transfer taxes) that are added to the basis of your residence that are important to keep track of. When you sell, the basis is needed to calculate any gain or loss.
-Real Estate Taxes: You may deduct real estate taxes in the year paid. They are generally reported on Form 1098 (Mortgage Interest Statement) or on your county real estate tax assessment statement. You should also deduct any prorated taxes collected from you at closing. These amounts are usually included on Form 1098, but you can get the total paid at your local tax assessor’s office if they are not reported on your Form 1098.
-Local Real Property Taxes and Assessments: Local taxes are deductible if they are charged uniformly against all property in the jurisdiction and if they are based on the assessed value of your home. Many states and counties also impose local benefit taxes for improvements to property, such as assessments for streets, sidewalks, and sewer lines. These taxes cannot be deducted but you can increase the cost basis of your property by the amount of the assessment.
-Mortgage Interest: The amount of mortgage interest you paid on your principal residence (or second home) is deductible if you itemize deductions. This amount is generally shown on Form 1098 (Mortgage Interest Statement). You can also deduct the points paid to purchase your residence, even though some may have been paid by the seller. Mortgage insurance premium payments that are related to the purchase of your home are deductible annually.
In addition, Steber notes that taxpayers should keep records of the cost of improvements made that add value to the home, such as landscaping, patios, swimming pools, decks, room additions and roof replacements, as these items can be added to the cost basis. Repairs such as fixing leaks, repairing roofs and painting are not deductible and are not basis additions. The cost of your own labor is not deductible.
“From the special tax credit for first-time home buyers, to the numerous tax incentives for making energy-efficient changes to a home, there are multiple reasons for taxpayers to speak with a tax preparer and ensure they take advantage of all home ownership-related credits and deductions for which they are eligible,” said Mark Steber, chief tax officer, Jackson Hewitt Tax Service Inc.
Steber reminds homeowners to keep the following tax benefits top-of-mind as they gather their tax-related documents to have their tax return prepared in the coming days:
-First Time Home Buyer Credit: This credit gives first-time home buyers the ability to claim a refundable credit of up to $8,000 ($4,000 if filing separately), provided that they are locked into a contract to close by midnight on April 30, 2010 and close on the home by midnight on June 30, 2010.
-Long-Time Home Buyer Credit: Taxpayers (and their spouses) who have lived in their home for five consecutive years out of the eight years preceding closing on a new house may qualify for a reduced credit of $6,500 ($3,250 if filing separately).
-New Home Energy Credits: Taxpayers can receive a credit for making their homes more energy efficient by caulking doors and windows, adding new insulation to attics, buying an energy-efficient hot water heater or air conditioner and more. The credit amount is a total of 30% of the cost of qualifying improvements, up to $1,500 for tax year 2009 and 2010.
-Tax Deductions and Buying a Home: Most of the expenses incurred when buying a home are not deductible. Yet there are certain closing costs (such as brokers’ commissions, attorney’s fees, recording fees, abstract fees, surveys, title searches, owner’s title insurance policy and transfer taxes) that are added to the basis of your residence that are important to keep track of. When you sell, the basis is needed to calculate any gain or loss.
-Real Estate Taxes: You may deduct real estate taxes in the year paid. They are generally reported on Form 1098 (Mortgage Interest Statement) or on your county real estate tax assessment statement. You should also deduct any prorated taxes collected from you at closing. These amounts are usually included on Form 1098, but you can get the total paid at your local tax assessor’s office if they are not reported on your Form 1098.
-Local Real Property Taxes and Assessments: Local taxes are deductible if they are charged uniformly against all property in the jurisdiction and if they are based on the assessed value of your home. Many states and counties also impose local benefit taxes for improvements to property, such as assessments for streets, sidewalks, and sewer lines. These taxes cannot be deducted but you can increase the cost basis of your property by the amount of the assessment.
-Mortgage Interest: The amount of mortgage interest you paid on your principal residence (or second home) is deductible if you itemize deductions. This amount is generally shown on Form 1098 (Mortgage Interest Statement). You can also deduct the points paid to purchase your residence, even though some may have been paid by the seller. Mortgage insurance premium payments that are related to the purchase of your home are deductible annually.
In addition, Steber notes that taxpayers should keep records of the cost of improvements made that add value to the home, such as landscaping, patios, swimming pools, decks, room additions and roof replacements, as these items can be added to the cost basis. Repairs such as fixing leaks, repairing roofs and painting are not deductible and are not basis additions. The cost of your own labor is not deductible.
Thursday, April 8, 2010
All Real Estate Headlines Are Not Local!!
Fact: All Real Estate Headlines Are Not Local
None of us are immune to the constant stream of negative news about the real estate market. There’s no denying the fact that the market has suffered, along with our country’s economy, over the past couple of years.
Unfortunately, this has created a serious dilemma as many consumers unwittingly base their real estate decisions on national media reports. Those of us in the industry live by the term “all real estate is local,” and as a consumer, so should you—otherwise, you run the risk of making an irreversible real estate mistake.
The truth, which you won’t find in the national media, is that real estate markets not only vary from region to region but from county to county, neighborhood to neighborhood…even street to street. Our team knows from my national network of leading real estate professionals, The Top 5 in Real Estate Network®, that there is tremendous variation in home sales prices from locality to locality, and that buyers and sellers are often heading into—or worse, avoiding all together—a real estate investment based on misinformation from national media reporting.
I am happy to say that in our local housing market, we have fared much better than in other part of the country. Therefore, if you are thinking about buying or selling a home in San Diego County, it’s essential that you talk to a seasoned real estate team in the areas you’re considering. Keep the following tips in mind when considering a real estate sale or purchase:
1. Consult with a local real estate team—like us, Robbi Campbell Properties, who is a Member of Top 5—for the most up-to-date information on the local market.
2. Ask for statistical reports and trend graphs—the hard facts. Real estate professionals have access to actual data that can be broken down into extremely finite components, such as a particular street or neighborhood.
3. Ask for comparative reports for the last 3-4 months of the current year, versus the previous year. This will reveal the latest market trend and provide you with concrete facts.
4. Media reports can vary widely based on state, city, and neighborhood – read, listen, learn, but always revert to the facts for the specific area in which you are looking, especially if you are relocating to a different state or region.
5. Also take seasonal considerations into account. In vacation-destination areas, the numbers will vary greatly from national and state data.
For many real estate consumers, today’s market is an unbelievable opportunity to buy or move up to a different home. Don’t let the national headlines scare you away. Consult with a us, Robbi Campbell Properties, a local real estate team, to get only the facts that matter to your specific situation and location. Please e-mail our team at robbi@robbicampbell.com or any team member for more information and pass this article along to others who might benefit from the real facts. You can also call us at 858-436-3290.
None of us are immune to the constant stream of negative news about the real estate market. There’s no denying the fact that the market has suffered, along with our country’s economy, over the past couple of years.
Unfortunately, this has created a serious dilemma as many consumers unwittingly base their real estate decisions on national media reports. Those of us in the industry live by the term “all real estate is local,” and as a consumer, so should you—otherwise, you run the risk of making an irreversible real estate mistake.
The truth, which you won’t find in the national media, is that real estate markets not only vary from region to region but from county to county, neighborhood to neighborhood…even street to street. Our team knows from my national network of leading real estate professionals, The Top 5 in Real Estate Network®, that there is tremendous variation in home sales prices from locality to locality, and that buyers and sellers are often heading into—or worse, avoiding all together—a real estate investment based on misinformation from national media reporting.
I am happy to say that in our local housing market, we have fared much better than in other part of the country. Therefore, if you are thinking about buying or selling a home in San Diego County, it’s essential that you talk to a seasoned real estate team in the areas you’re considering. Keep the following tips in mind when considering a real estate sale or purchase:
1. Consult with a local real estate team—like us, Robbi Campbell Properties, who is a Member of Top 5—for the most up-to-date information on the local market.
2. Ask for statistical reports and trend graphs—the hard facts. Real estate professionals have access to actual data that can be broken down into extremely finite components, such as a particular street or neighborhood.
3. Ask for comparative reports for the last 3-4 months of the current year, versus the previous year. This will reveal the latest market trend and provide you with concrete facts.
4. Media reports can vary widely based on state, city, and neighborhood – read, listen, learn, but always revert to the facts for the specific area in which you are looking, especially if you are relocating to a different state or region.
5. Also take seasonal considerations into account. In vacation-destination areas, the numbers will vary greatly from national and state data.
For many real estate consumers, today’s market is an unbelievable opportunity to buy or move up to a different home. Don’t let the national headlines scare you away. Consult with a us, Robbi Campbell Properties, a local real estate team, to get only the facts that matter to your specific situation and location. Please e-mail our team at robbi@robbicampbell.com or any team member for more information and pass this article along to others who might benefit from the real facts. You can also call us at 858-436-3290.
Wednesday, April 7, 2010
Saturday, April 3, 2010
Increase your Home Values by Sprucing Up Your Outdoor Living Space!
With many Americans experiencing a financial pinch these days, there is a growing trend among homeowners nationwide to look to the outdoor areas of their own property for not only relaxation and entertainment value, but to also expand their living space and thereby, increase their home’s value. Through my national network of leading real estate professionals, the Top 5 in Real Estate Network®, I, along with my team, have learned that homeowners across the country are spending more time at home and showing an increased interest in outdoor living areas. By sprucing up your patios, porches and decks, you are making your home more livable now and more attractive to future buyers. Stylish patios and outdoor rooms with comfortable furnishings and convenient cooking and eating areas provide new opportunities for recreation and relaxing family times. A recent survey by the Propane Education & Research Council, found that 35% of homeowners have a finished outdoor room and 34% say they are planning to design one in the next year or two. Some of our clients are even foregoing expensive vacations in favor of putting in a swimming pool. The reality is, however, that you do not need to make a major investment to improve your outdoor living areas. Here are five quick additions that will make an immediate difference:1. Outdoor lighting units2. Gas grills with cooking and food preparation surfaces3. Outdoor fire pits or fireplaces4. Patio heaters5. Mosquito/bug eliminatorsIn any market, financial planners all agree, real estate is the best investment one can make. Increasing the value of that investment with features that extend and enhance the family living area is always a wise decision. For more information and ideas, feel free to e-mail our team…and be sure to pass this on to family and friends who are ready to explore the “great outdoors.”
Friday, April 2, 2010
Robbi Campbell Properties Presents 5269 Meadows Del Mar in the prestigious Meadows Del Mar, Carmel Valley, San Diego
Beautifully appointed 5 bedroom, 4.5 bath home in the West gate of Meadows Del Mar. Call Felicia Lewis at 770-330-0375 for any questions!
Friday, March 26, 2010
How to Save Money on Your Homeowners Insurance!
In today’s economy, homeowners need to save money wherever possible. If you’ve been the victim of damage this winter, thanks to Mother Nature, you may be confronting the not-so-pleasant realities of your homeowners’ insurance policy. From high deductibles to lack of coverage to rising rates, many homeowners have been left to foot a big—unexpected!—bill.
As a member of the Top 5 in Real Estate Network®, I, along with my team, am well versed in some of the ways you can save money when it comes to homeowners insurance. For starters, you may be able to save hundreds of dollars a year by shopping your homeowners’ policy around, so please e-mail our team if you need a referral or two. Also, here are some great, money-saving ideas from the Federal Citizen Information Center (www.consumeraction.gov):
• Increasing your deductible is an easy way to save money on a monthly basis. Even raising it by just a few hundred dollars can make a big difference in your premium.
• Ask your insurance agent about discounts. You may be able to get a lower premium if your home has safety features such as dead-bolt locks, smoke detectors, an alarm system, storm shutters or fire-retardant roofing material. Long-term customers and those over age 55 may also be offered discounts.
• Insure your house, not the land under it. After all, your land will still be there even if your home is damaged. If you don't subtract the value of the land when deciding how much homeowner's insurance to buy, you will pay more than you should.
• Don't wait until you have a loss to find out if you have the right type and amount of insurance. Discuss with your insurance agent exactly what types of damage are covered, including natural “acts of God.” Many homeowners are caught offguard by this loophole.
• Purchase enough coverage to replace what is insured. "Replacement" coverage gives you the money to rebuild your home and replace its contents. An "Actual Cash Value" policy is cheaper but pays only what your property is worth at the time of loss - your cost, minus depreciation for age and wear.
• Consider any special coverage you may need for valuable and/or unique items, such as computers, cameras, jewelry, art, antiques, musical instruments, stamp collections, etc.
• Remember that flood damage may not be covered by a standard homeowners’ policy. If you live in an area prone to flooding, take advantage of the National Flood Insurance Program.
Bottom line, make sure you are working with an insurance agent who is experienced and trustworthy. Feel free to contact us for further information and please forward this e-mail to family and friends to keep them in the know as well.
Thursday, March 25, 2010
5061 Seagrove Cove, Gorgeous 6 Bedroom 5.5 Bath Home on Culdesac Street in Amador, Carmel Valley For Sale!
Do you know anyone who would be interested in this beautiful new listing in Amador, Carmel Valley! Will be officially on the market in the next day or two! 5061 Seagrove Cove! 6 Bedrooms, separate office, 5.5 baths, approx. 4144 sq ft. on culdesac street! Priced at $1,524,900! See photos !Call us at 858-436-3290 and we will tell you all about it! Professional photos and virtual tour to follow in the next few days!!
Wednesday, March 24, 2010
New Listing in Sonoma, Carmel Valley 5073 McGill Way
See our new listing at 5073 McGill Way in the Sonoma neighborhood in Carmel Valley, San Diego! Fabulous end of culdesac location, with southern views, this beautiful 4 bdr + upstairs loft/office boasts its dramatic two story master bedroom suite!!
Saturday, March 20, 2010
5073 McGill Way in Sonoma Neighborhood in Carmel Valley San Diego open Sunday 3/21st 1-4 PM
OPEN HOUSE THIS SUNDAY 1-4 pm at 5073 McGill Way in the Sonoma neighborhood in Carmel Valley San Diego. Come say hi to Felicia and myself and see this beautiful home! Please call us at 858-436-3290 for any questions!! Click the link to see the photo gallery and the virtual tour!!
5073 McGill Way is a beautiful 4 Bedroom, 3 1/2 bath Plan 2 in the Sonoma neighborhood in the heart of Carmel Valley, San Diego! This home is located at the bulb of a quiet established culdesac street with beautiful southern views! Features an updated kitchen with slab granite counters and full backsplashes, stainless appliances, tropical backyard with sparkling pool and spa, and the dramatic and unique two story master bedroom suite with its own upstairs loft/office!
Click Here for photos and virtual tour
5073 McGill Way is a beautiful 4 Bedroom, 3 1/2 bath Plan 2 in the Sonoma neighborhood in the heart of Carmel Valley, San Diego! This home is located at the bulb of a quiet established culdesac street with beautiful southern views! Features an updated kitchen with slab granite counters and full backsplashes, stainless appliances, tropical backyard with sparkling pool and spa, and the dramatic and unique two story master bedroom suite with its own upstairs loft/office!
Click Here for photos and virtual tour
Thursday, March 18, 2010
Robbi Campbell Properties Presents 5073 McGill Way in Sonoma Neighborhood in Carmel Valley San Diego
See our newest listing at 5073 McGill Way in the Sonoma neighborhood in the heart of Carmel Valley! Beautiful southern views, located on the culdesac bulb on a quiet established street, this 4 bedroom home features the dramatic two story master bedroom suite! Will be open this Sunday, March 21st, from 1-4 PM! Come by and say hello!
Wednesday, March 17, 2010
Visit Our Weekly Robbi Campbell Resource Center for News Articles, Videos and Questions & Answers!
As a member of the Top 5 in Real Estate, we are proud to bring you each week our Robbi Campbell Resource Center which has timely articles, videos and Questions & Answers that we hope will be of interest to you!
Click here to visit Robbi Campbell Resource Center
Click here to visit Robbi Campbell Resource Center
Beautiful New Home for Sale in Sonoma, Carmel Valley
New Listing in Sonoma Carmel Valley San Diego!!
Click here to view the virtual tour for our new listing at 5073 McGill Way in the Sonoma Neighborhood right int he heart of Carmel Valley! This home, situated at the bulb end of a quiet established culdesac street, has beautiful southern views! this 4bedroom/3.5 bath beauty boasts of its dramatic and luxurious two story master bedroom suite! It also features an updated kitchen with stainless appliances and slab granite counters and full backsplashes, sparkling pool and spa and much much more!
We will be holding this home open this Sunday, March 21st from 1-4 PM!! Come by to say hello and view this lovely home!! Please call Robbi at 858-229-0649 for any questions!
Click here to view the virtual tour for our new listing at 5073 McGill Way in the Sonoma Neighborhood right int he heart of Carmel Valley! This home, situated at the bulb end of a quiet established culdesac street, has beautiful southern views! this 4bedroom/3.5 bath beauty boasts of its dramatic and luxurious two story master bedroom suite! It also features an updated kitchen with stainless appliances and slab granite counters and full backsplashes, sparkling pool and spa and much much more!
We will be holding this home open this Sunday, March 21st from 1-4 PM!! Come by to say hello and view this lovely home!! Please call Robbi at 858-229-0649 for any questions!
Thursday, March 4, 2010
Looking to Buy a ‘Fixer-Upper’? The 203k Program Can Help Make It Happen
Looking to Buy a ‘Fixer-Upper’? The 203k Program Can Help Make It Happen!
Today’s real estate market presents a lot of opportunity for interested home buyers—with the growing supply of foreclosure properties and short sales, there are certainly some great deals to be had.
The problem in buying a “distressed” property, however, is that these homes are often damaged due to lack of maintenance or prolonged vacancy. So while the price tag might be right, the investment necessary to make the home livable might just push buyers well beyond their budgets.
As a member of the Top 5 in Real Estate Network®, however, I, along with my team, have access to the latest information on mortgage and financing options. One particular option that is providing hope for many of today’s home buyers is HUD’s FHA 203k program, a loan that enables buyers to not only secure a mortgage, but receive the funds necessary to improve the home as well.
Here are five facts about the 203k program to help you determine if it might be the right fit for you:
1. The FHA Section 203k program was originally introduced by HUD in 1978 as a program to rehabilitate and repair single-family homes. The 203k is a single mortgage loan that provides funds to purchase a home and make repairs and improvements. A simpler version, the Streamline 203k, was introduced in 2005. This version offers less documentation and lower loan fees for renovations that don’t exceed $35,000.
2. In today’s market, conventional financing, which often requires 20% - 25% down on a home and a perfect credit score, is often hard to come by. However, with less-than-perfect credit and as little as 3.5% down, you can get an FHA loan, such as the 203k.
3. The 203k approval process is a little more complicated than a conventional loan. For example, you’re required to secure renovation costs from an established, licensed contractor and deliver a package of the proper paperwork to the lender to secure FHA approval. Make sure you work with an agent—like a member of Top 5—who is well-versed in the 203k program, or who can connect you with a lender that is.
4. The 203k loan is not just for foreclosure or distressed properties. More than 80% of the homes in America were built before 1990—that’s over 100 million homes that are 20 years old or older—and almost every one is in need of some amount of repair and updating. The 203k loan, therefore, offers advantages for almost any home purchase.
5. The 203k loan is not just for home purchases but can be used to finance a home improvement, as well!
For complete details on the HUD 203k program, you can visit www.fhainfo.com/fha203k.htm. Please feel free to e-mail our team, too, since this information can be hard to digest and confusing. Be sure to pass this e-mail on to any friends and family who might also be able to take advantage of a 203k loan.
Today’s real estate market presents a lot of opportunity for interested home buyers—with the growing supply of foreclosure properties and short sales, there are certainly some great deals to be had.
The problem in buying a “distressed” property, however, is that these homes are often damaged due to lack of maintenance or prolonged vacancy. So while the price tag might be right, the investment necessary to make the home livable might just push buyers well beyond their budgets.
As a member of the Top 5 in Real Estate Network®, however, I, along with my team, have access to the latest information on mortgage and financing options. One particular option that is providing hope for many of today’s home buyers is HUD’s FHA 203k program, a loan that enables buyers to not only secure a mortgage, but receive the funds necessary to improve the home as well.
Here are five facts about the 203k program to help you determine if it might be the right fit for you:
1. The FHA Section 203k program was originally introduced by HUD in 1978 as a program to rehabilitate and repair single-family homes. The 203k is a single mortgage loan that provides funds to purchase a home and make repairs and improvements. A simpler version, the Streamline 203k, was introduced in 2005. This version offers less documentation and lower loan fees for renovations that don’t exceed $35,000.
2. In today’s market, conventional financing, which often requires 20% - 25% down on a home and a perfect credit score, is often hard to come by. However, with less-than-perfect credit and as little as 3.5% down, you can get an FHA loan, such as the 203k.
3. The 203k approval process is a little more complicated than a conventional loan. For example, you’re required to secure renovation costs from an established, licensed contractor and deliver a package of the proper paperwork to the lender to secure FHA approval. Make sure you work with an agent—like a member of Top 5—who is well-versed in the 203k program, or who can connect you with a lender that is.
4. The 203k loan is not just for foreclosure or distressed properties. More than 80% of the homes in America were built before 1990—that’s over 100 million homes that are 20 years old or older—and almost every one is in need of some amount of repair and updating. The 203k loan, therefore, offers advantages for almost any home purchase.
5. The 203k loan is not just for home purchases but can be used to finance a home improvement, as well!
For complete details on the HUD 203k program, you can visit www.fhainfo.com/fha203k.htm. Please feel free to e-mail our team, too, since this information can be hard to digest and confusing. Be sure to pass this e-mail on to any friends and family who might also be able to take advantage of a 203k loan.
Sunday, February 28, 2010
Happy Satisfied Sellers Tell About Their Experience Working With Robbi Campbell!
We at Robbi Campbell Properties feel we do a great job in marketing and selling homes but our Happy Satisfied Sellers can say it so much better! Hear what one of our Happy Satisfied Sellers say about us!!!
Thursday, February 25, 2010
Thinking of Buying a Foreclosure? Some Important Facts to Know Before Purchasing a Foreclosure!
Is Buying a Foreclosure Really a Bargain? What You Need to Know
In today’s tumultuous economy, it’s no surprise that there are foreclosure properties to be found in just about every community across America—even ours. While a terrible hardship for homeowners to endure, foreclosures can present a unique opportunity for first-time home buyers and investors looking to purchase a “bargain-priced home” with the potential for building instant equity.
As experienced real estate professionals, we want to advise you to tread carefully when it comes to foreclosures—they might not be quite the bargain you expect. Here are some important facts you need to know before venturing out into the foreclosure market:
- Homeowners faced with foreclosure are understandably stressed and resentful, which can often lead to neglecting routine maintenance on a home. Sometimes, even deliberate damage is done. Assessing the home’s condition, therefore, is a must.
- Foreclosure properties have often been vacant for an extended period of time. Look for problems caused by damp conditions, such as mold.
- Get a thorough home inspection before bidding on the property. Once the damage/disrepair of the home is assessed, factor this in when bidding on the home.
- Contact a real estate professional—like me, a Member of the Top 5 in Real Estate Network®—or my team, who is well steeped in the community and can provide information about pre-foreclosure properties, that is, homes that have been scheduled for foreclosure but have not yet gone to auction or been sold off. These homes need to be sold quickly as owners are trying to avoid foreclosure and its impact on their credit.
- Last but not least, go to www.hud.gov for information on how to buy homes acquired by the U.S Department of Housing and Urban Development as a result of foreclosure action on an FHA-insured mortgage. The site also has information on special programs and opportunities for teachers, law enforcement officers and others.
While buying a foreclosure property takes patience and research, the results can be well worth your time and effort. For more information, please e-mail our team, and please pass this on to anyone you know who might be interested in exploring a foreclosure purchase.
In today’s tumultuous economy, it’s no surprise that there are foreclosure properties to be found in just about every community across America—even ours. While a terrible hardship for homeowners to endure, foreclosures can present a unique opportunity for first-time home buyers and investors looking to purchase a “bargain-priced home” with the potential for building instant equity.
As experienced real estate professionals, we want to advise you to tread carefully when it comes to foreclosures—they might not be quite the bargain you expect. Here are some important facts you need to know before venturing out into the foreclosure market:
- Homeowners faced with foreclosure are understandably stressed and resentful, which can often lead to neglecting routine maintenance on a home. Sometimes, even deliberate damage is done. Assessing the home’s condition, therefore, is a must.
- Foreclosure properties have often been vacant for an extended period of time. Look for problems caused by damp conditions, such as mold.
- Get a thorough home inspection before bidding on the property. Once the damage/disrepair of the home is assessed, factor this in when bidding on the home.
- Contact a real estate professional—like me, a Member of the Top 5 in Real Estate Network®—or my team, who is well steeped in the community and can provide information about pre-foreclosure properties, that is, homes that have been scheduled for foreclosure but have not yet gone to auction or been sold off. These homes need to be sold quickly as owners are trying to avoid foreclosure and its impact on their credit.
- Last but not least, go to www.hud.gov for information on how to buy homes acquired by the U.S Department of Housing and Urban Development as a result of foreclosure action on an FHA-insured mortgage. The site also has information on special programs and opportunities for teachers, law enforcement officers and others.
While buying a foreclosure property takes patience and research, the results can be well worth your time and effort. For more information, please e-mail our team, and please pass this on to anyone you know who might be interested in exploring a foreclosure purchase.
Tuesday, February 23, 2010
Before You Walk Away From Your Mortgage Payment, Consider the Possible Legal Issues!!
Homeowners who are considering “walking away” from their home to avoid making their mortgage payment need to know that their mortgage company may try to file a lawsuit to recover the amount owed on the home.
In addition, homeowners who sell their home for less than the amount they owe–a process called a short sale—may be sued for the unpaid balance, even after the sale of the home. Finally, homeowners with unpaid home equity loans or second mortgages may also face legal action if they “walk away” from an unpaid mortgage or conclude a short sale.
“My advice is that no homeowner should ever simply ‘walk away’ or ‘turn in the keys’ without receiving a document that absolves them of all liability,” said Frank Alexander, professor of law at Emory University School of Law and a member of the board of directors of Consumer Credit Counseling Service (CCCS) of Greater Atlanta.
“A borrower facing a foreclosure should assume that a post-foreclosure lawsuit is possible,” said Alexander. “In addition, no homeowner should ever participate in a short sale without receiving a signed agreement clarifying that all outstanding debt has been forgiven. The same is true for all deed-in-lieu of foreclosure resolutions.”
Before the current mortgage crisis, mortgage companies did not usually sue homeowners after foreclosure or short sales because many borrowers had little income and few remaining assets, according to Alexander. But the increase in homeowners deciding to “walk away” from their homes means mortgage companies may file more lawsuits to try and recoup their losses. In addition, Alexander says that mortgage companies are often selling promissory notes for the amount owed on the mortgage, at steep discounts, to collection agencies. The collection agencies will likely pursue the former homeowner to collect the amount owed.
Because some borrowers who decide to “walk away” from their homes still have good incomes, Alexander predicts an increase in the number of lawsuits filed by mortgage companies to obtain garnishment of a homeowner’s wages. “Garnishment actions are going to become quite common in late 2010 and throughout 2011 and 2012,” he says.
If a homeowner involved in a foreclosure, a short sale or deed-in-lieu of foreclosure has any questions about this issue, Alexander recommends that they hire an attorney to determine if their mortgage company has any basis for legal action.
For more information, visit www.cccsinc.org.
In addition, homeowners who sell their home for less than the amount they owe–a process called a short sale—may be sued for the unpaid balance, even after the sale of the home. Finally, homeowners with unpaid home equity loans or second mortgages may also face legal action if they “walk away” from an unpaid mortgage or conclude a short sale.
“My advice is that no homeowner should ever simply ‘walk away’ or ‘turn in the keys’ without receiving a document that absolves them of all liability,” said Frank Alexander, professor of law at Emory University School of Law and a member of the board of directors of Consumer Credit Counseling Service (CCCS) of Greater Atlanta.
“A borrower facing a foreclosure should assume that a post-foreclosure lawsuit is possible,” said Alexander. “In addition, no homeowner should ever participate in a short sale without receiving a signed agreement clarifying that all outstanding debt has been forgiven. The same is true for all deed-in-lieu of foreclosure resolutions.”
Before the current mortgage crisis, mortgage companies did not usually sue homeowners after foreclosure or short sales because many borrowers had little income and few remaining assets, according to Alexander. But the increase in homeowners deciding to “walk away” from their homes means mortgage companies may file more lawsuits to try and recoup their losses. In addition, Alexander says that mortgage companies are often selling promissory notes for the amount owed on the mortgage, at steep discounts, to collection agencies. The collection agencies will likely pursue the former homeowner to collect the amount owed.
Because some borrowers who decide to “walk away” from their homes still have good incomes, Alexander predicts an increase in the number of lawsuits filed by mortgage companies to obtain garnishment of a homeowner’s wages. “Garnishment actions are going to become quite common in late 2010 and throughout 2011 and 2012,” he says.
If a homeowner involved in a foreclosure, a short sale or deed-in-lieu of foreclosure has any questions about this issue, Alexander recommends that they hire an attorney to determine if their mortgage company has any basis for legal action.
For more information, visit www.cccsinc.org.
Sunday, February 21, 2010
Friday, February 19, 2010
How To Get Ready Your Home to Show to Buyers!
How to get your home ready to show!
By Joe Cooke, RISMedia Columnist
RISMEDIA, February 18, 2010—When it comes to preparing your home to be seen by buyers, Stephanie Edwards-Musa, a Realtor from Woodlands, Texas says, “Appearance is the most important- if the home is not clean, the buyer’s impression may be that the home is not well-maintained.” That may not sound fair, but it’s true. Once your home is cleaned and staged, you have to keep it that way as long as it is on the market.
While you will typically get a few hours advance warning before prospective buyers come see your home, there may be times when your agent will get a last-minute call from a buyer. If you have the lead time you need, make sure you give your home a quick once-over before every showing.
Here is a pre-showing checklist that you can post to your refrigerator so that it is handy when you get that call from your agent:
Check Exterior Appearance
-Make sure the lawn is tidy, freshly mowed if possible
-Keep hedges and shrubs trimmed
-Weed and edge gardens and flowerbeds
-Sweep walkways, shovel snow and remove ice, if necessary
The Front Door
-Clean porch and foyer
-Sweep or shake-out welcome mats and entry rugs
-Place umbrella stand and boot tray near the entry
Cleaning and Organizing
-Clean and freshen bathrooms, put toilet seat lids down
-Clear off kitchen counters, make sure there are no dishes in the sink
-Pick up toys and clean floors as needed
-Empty all garbage containers
-Make beds neatly
-Shut all closet doors and cabinets
Safety
-Lock jewelry and valuables in a safe or remove from the property
-Place larger valuable property, such as objects of art, vases and figurines out of reach
-Put away cameras, credit cards, ID, medications and other small, easily pocketed items
Create a Buying Mood
-Open windows for 10 minutes to allow fresh air to circulate
-Turn on lights
-Turn on air conditioner/heater
-Open the drapes
-Light the fireplace
-Turn television sets off
-Turn on a radio with soft music at a low volume
-Put pets in a secure place or take them for a walk
Copyright© 2010 RISMedia, The Leader in Real Estate Information Services, All Rights Reserved. This material may not be republished without permission from RISMedia.
By Joe Cooke, RISMedia Columnist
RISMEDIA, February 18, 2010—When it comes to preparing your home to be seen by buyers, Stephanie Edwards-Musa, a Realtor from Woodlands, Texas says, “Appearance is the most important- if the home is not clean, the buyer’s impression may be that the home is not well-maintained.” That may not sound fair, but it’s true. Once your home is cleaned and staged, you have to keep it that way as long as it is on the market.
While you will typically get a few hours advance warning before prospective buyers come see your home, there may be times when your agent will get a last-minute call from a buyer. If you have the lead time you need, make sure you give your home a quick once-over before every showing.
Here is a pre-showing checklist that you can post to your refrigerator so that it is handy when you get that call from your agent:
Check Exterior Appearance
-Make sure the lawn is tidy, freshly mowed if possible
-Keep hedges and shrubs trimmed
-Weed and edge gardens and flowerbeds
-Sweep walkways, shovel snow and remove ice, if necessary
The Front Door
-Clean porch and foyer
-Sweep or shake-out welcome mats and entry rugs
-Place umbrella stand and boot tray near the entry
Cleaning and Organizing
-Clean and freshen bathrooms, put toilet seat lids down
-Clear off kitchen counters, make sure there are no dishes in the sink
-Pick up toys and clean floors as needed
-Empty all garbage containers
-Make beds neatly
-Shut all closet doors and cabinets
Safety
-Lock jewelry and valuables in a safe or remove from the property
-Place larger valuable property, such as objects of art, vases and figurines out of reach
-Put away cameras, credit cards, ID, medications and other small, easily pocketed items
Create a Buying Mood
-Open windows for 10 minutes to allow fresh air to circulate
-Turn on lights
-Turn on air conditioner/heater
-Open the drapes
-Light the fireplace
-Turn television sets off
-Turn on a radio with soft music at a low volume
-Put pets in a secure place or take them for a walk
Copyright© 2010 RISMedia, The Leader in Real Estate Information Services, All Rights Reserved. This material may not be republished without permission from RISMedia.
Thursday, February 18, 2010
Shopping For A Condo? Ask These 4 Questions Before You Buy
Shopping for a Condo? Ask These 4 Questions Before You Buy
Condominium homes have always been, and will likely always be, an efficient and economical route to becoming a first-time homeowner. They can offer the comfort, prestige, and even luxury appointments that apartment living may lack, often at a cost that is not much different than rent. With the current first-time home buyer tax credit and the deadline for the move-up tax credit fast approaching, we advise you move fast on any condo purchase you may be considering.
With my experience as Member of the Top 5 in Real Estate Network®, I, along with my team, am well aware that not all condominiums are the same, however, so make sure you ask the following four questions before you buy:
What will you own? Read the bylaws and be sure you understand what you will be responsible for and what belongs to the condo association. Will you own the boat dock at the back of your unit? Can you elect to build a spa on your patio? Generally, unit owners own and are responsible for the interior of their condos, while costs for outside maintenance including common areas and sewer lines are the association’s responsibility.
Who lives there? Are the majority of residents owners or renters? Owners generally take more interest in proper maintenance and are more willing than renters to serve on the association board and enforce complex rules and regulations–including the regular collection of homeowner dues.
How effective is the homeowner’s association? Do they have legal counsel, reasonable funds and a capable, caring volunteer board? One way to judge is to check with residents about restrictions, oversight and timeliness of repairs and upgrades. Another is to take a hard look at the grounds and be wary of signs of neglect.
What about special assessments? The association should have the power to special assess for needed, one-time large expenditures. Otherwise, things that need to be done may never get done at all, leaving the complex vulnerable to disrepair and lowered property values.
Don’t miss this great opportunity to become a homeowner or to downsize by buying a condo (remember, the move-up tax credit does not require you to move to a larger or more expensive home). Please e-mail our team for more tips on buying a condo and forward this information to any family and friends who may be in the market as well.
Condominium homes have always been, and will likely always be, an efficient and economical route to becoming a first-time homeowner. They can offer the comfort, prestige, and even luxury appointments that apartment living may lack, often at a cost that is not much different than rent. With the current first-time home buyer tax credit and the deadline for the move-up tax credit fast approaching, we advise you move fast on any condo purchase you may be considering.
With my experience as Member of the Top 5 in Real Estate Network®, I, along with my team, am well aware that not all condominiums are the same, however, so make sure you ask the following four questions before you buy:
What will you own? Read the bylaws and be sure you understand what you will be responsible for and what belongs to the condo association. Will you own the boat dock at the back of your unit? Can you elect to build a spa on your patio? Generally, unit owners own and are responsible for the interior of their condos, while costs for outside maintenance including common areas and sewer lines are the association’s responsibility.
Who lives there? Are the majority of residents owners or renters? Owners generally take more interest in proper maintenance and are more willing than renters to serve on the association board and enforce complex rules and regulations–including the regular collection of homeowner dues.
How effective is the homeowner’s association? Do they have legal counsel, reasonable funds and a capable, caring volunteer board? One way to judge is to check with residents about restrictions, oversight and timeliness of repairs and upgrades. Another is to take a hard look at the grounds and be wary of signs of neglect.
What about special assessments? The association should have the power to special assess for needed, one-time large expenditures. Otherwise, things that need to be done may never get done at all, leaving the complex vulnerable to disrepair and lowered property values.
Don’t miss this great opportunity to become a homeowner or to downsize by buying a condo (remember, the move-up tax credit does not require you to move to a larger or more expensive home). Please e-mail our team for more tips on buying a condo and forward this information to any family and friends who may be in the market as well.
Wednesday, February 17, 2010
Thinking of Putting Your Home on the Market? Here are Tips on How to Increase the Curb Appeal of Your Home Online!!
Today's News and Features
Curb Appeal in an Online World
By Joe Cooke, RISMedia Columnist
RISMEDIA, February 17, 2010—Curb appeal isn’t just for curbs. It applies just as much to the photos of your home that appear on the Web. Sue Argue of Staged First Impressions, in Hampton, New Hampshire reminds her clients to “clean up before the photo shoot; that is going to be up to you–the homeowner. Don’t expect your agent to do it.”
Here is a quick pre-shoot checklist for curb and Web appeal:
- Don’t leave debris and toys all over the driveway and front entrance. Park your car out of the way and encourage buyers to park where their car won’t block the view.
- Spruce up your landscaping. Trim hedges, weed the flowerbeds and power wash the driveway and walkways.
- Make your entryway inviting. Paint your front door a happy color. It should promise comfort inside and say welcome.
- Make sure everything is clean. This simple fact cannot be emphasized enough.
- Air the house out. Make sure there are no food smells, cigarette smells or other scents that might put a buyer off.
- Put away clutter. Too many appliances on kitchen counters, too many pictures hanging on walls and too many bits and pieces on your tables will stop a buyer seeing their own special things in those places.
- Clear away unnecessary furniture. Go for a minimalist look so buyers can picture their own décor in the home.
- Do a thorough spring-cleaning. Clean out your closets and pack away items you don’t need right now to give a spacious look to your storage areas.
- Clean your carpets, especially if you have animals in the house. The last thing prospective buyers want to do is to smell your dog’s dinner or have your cat’s hair attach itself to their clothes.
- Wash your windows and let the sunshine in. Light affects emotions. Also, turn on the lights when showing your home. Day-like light bulbs enhance happiness and comfort.
- Put flowers and plants throughout the house to brighten it up and make it feel welcoming.
- Get any undone maintenance jobs and do-it-yourself projects completed before you show the house.
- Fix any broken light fixtures or ceiling fans.
- A new coat of paint works wonders. Select warm neutral shades of paint that will appeal to everyone.
Copyright© 2010 RISMedia, The Leader in Real Estate Information Services, All Rights Reserved. This material may not be republished without permission from RISMedia.
Curb Appeal in an Online World
By Joe Cooke, RISMedia Columnist
RISMEDIA, February 17, 2010—Curb appeal isn’t just for curbs. It applies just as much to the photos of your home that appear on the Web. Sue Argue of Staged First Impressions, in Hampton, New Hampshire reminds her clients to “clean up before the photo shoot; that is going to be up to you–the homeowner. Don’t expect your agent to do it.”
Here is a quick pre-shoot checklist for curb and Web appeal:
- Don’t leave debris and toys all over the driveway and front entrance. Park your car out of the way and encourage buyers to park where their car won’t block the view.
- Spruce up your landscaping. Trim hedges, weed the flowerbeds and power wash the driveway and walkways.
- Make your entryway inviting. Paint your front door a happy color. It should promise comfort inside and say welcome.
- Make sure everything is clean. This simple fact cannot be emphasized enough.
- Air the house out. Make sure there are no food smells, cigarette smells or other scents that might put a buyer off.
- Put away clutter. Too many appliances on kitchen counters, too many pictures hanging on walls and too many bits and pieces on your tables will stop a buyer seeing their own special things in those places.
- Clear away unnecessary furniture. Go for a minimalist look so buyers can picture their own décor in the home.
- Do a thorough spring-cleaning. Clean out your closets and pack away items you don’t need right now to give a spacious look to your storage areas.
- Clean your carpets, especially if you have animals in the house. The last thing prospective buyers want to do is to smell your dog’s dinner or have your cat’s hair attach itself to their clothes.
- Wash your windows and let the sunshine in. Light affects emotions. Also, turn on the lights when showing your home. Day-like light bulbs enhance happiness and comfort.
- Put flowers and plants throughout the house to brighten it up and make it feel welcoming.
- Get any undone maintenance jobs and do-it-yourself projects completed before you show the house.
- Fix any broken light fixtures or ceiling fans.
- A new coat of paint works wonders. Select warm neutral shades of paint that will appeal to everyone.
Copyright© 2010 RISMedia, The Leader in Real Estate Information Services, All Rights Reserved. This material may not be republished without permission from RISMedia.
Tuesday, February 16, 2010
Monday, February 15, 2010
We Are Excited To Introduce Felicia Browne Lewis As The Newest Member Of Our Team, Robbi Campbell Properties!!
Robbi Campbell Properties is very excited to welcome Felicia Browne Lewis to our team! Felicia, an experienced residential agent, will be focusing on working with both sellers and buyers in our North County San Diego market!
(left to right) Felicia Browne Lewis, Brad Fomon, Lynn Mattoon, Robbi Campbell and Deb Hillstrom.
Thinking Of Remodeling Your Home! Here Are Some Ways to Finance It!!!
From Our Team: Top 5 Ways to Finance a Home Improvement Project
5 Ways to Finance a Home Improvement Project
You’ve probably noticed that remodeling projects in our neighborhood have waned as the economy has struggled. But remodeling your home is still one of the best long-term investments you can make. As home prices start to stabilize and slowly start to climb again, completing a remodeling project now can leave your home sitting pretty in terms of value when the market fully recovers.
In today’s tough lending climate, however, financing a home improvement project can be tricky. As a member of the Top 5 in Real Estate Network®, I, along with my team, am often asked, “What’s the best way to fund a remodel?” The National Association of Home Builders (NAHB) says there are several good options. Here are five recommendations we often share, from the simple to the more creative:
Cash
If you have cash in savings to pay for your remodeling project, this may be the best way to finance your home improvements. But be sure to consider the fact that, by paying in cash, you tie up money that could be earning interest in other investments. In other words, you need to look at the interest rate that you would be charged by financing the project and compare this to the interest you could earn by investing these funds.
Also remember that interest payments on a home improvement loan may be tax-deductible, while you can't write off the expenses of a remodeling project paid for in cash. Crunch the numbers and meet with a financial advisor to determine whether paying in cash will really pay off in the long run.
Home Improvement Loan
Two special loans administered through the Federal Housing Administration (FHA) are the Title I and Section 203(k) programs. A Title I loan allows you to borrow up to $25,000 for improvements to a single-family home. These are fixed-rate loans that FHA insures against the risk of default. Loans must be made by an approved Title I lender.
The 203(k) program is not as well known, but if you are looking to purchase a fixer-upper, it is a terrific opportunity. It allows homeowners to receive a single, long-term, fixed or adjustable rate loan that covers both the acquisition and rehabilitation of the property. To obtain a loan under the 203(k) program, you must use an FHA-approved lending institution. Most mortgage lenders are approved to make loans through this program.
Home Equity Line of Credit
A home equity line of credit is a form of revolving credit in which your home serves as collateral. This allows you to tap into these funds whenever you need it. The credit line is usually set at 75 to 80% of the appraised value of your home minus the balance of the first mortgage. Your credit history and ability to pay may also be considered in determining the amount of credit available.
Home equity lines of credit usually carry a variable interest rate that is figured by adding a margin to the current Prime Rate or some other index. Other costs associated with setting up a line of credit may also apply and will vary from lender to lender.
Second Mortgage
If you are not comfortable with the open-ended nature of a line of credit (which requires discipline to ensure that you don't go way over budget), a home equity loan, or second mortgage, may be right for you. This is a fixed-rate, fixed-term loan based on the equity in your house that is paid back in equal monthly installments over a specific period of time.
Cash-Out Refinancing
If interest rates today are significantly less than when you first purchased your house, refinancing your mortgage may be a wise move. This refinancing alternative allows you to use the accumulated equity in your home to take out a new loan to pay off your existing mortgage and then use the remaining funds for your remodeling project.
Make sure you factor in the length of time you plan to live in the house and the number of years left on your current mortgage before you decide to refinance.
Carefully consider the above options to determine what might be best for you or e-mail our team to discuss further. Please forward this e-mail to anyone else who might be considering a remodeling project.
5 Ways to Finance a Home Improvement Project
You’ve probably noticed that remodeling projects in our neighborhood have waned as the economy has struggled. But remodeling your home is still one of the best long-term investments you can make. As home prices start to stabilize and slowly start to climb again, completing a remodeling project now can leave your home sitting pretty in terms of value when the market fully recovers.
In today’s tough lending climate, however, financing a home improvement project can be tricky. As a member of the Top 5 in Real Estate Network®, I, along with my team, am often asked, “What’s the best way to fund a remodel?” The National Association of Home Builders (NAHB) says there are several good options. Here are five recommendations we often share, from the simple to the more creative:
Cash
If you have cash in savings to pay for your remodeling project, this may be the best way to finance your home improvements. But be sure to consider the fact that, by paying in cash, you tie up money that could be earning interest in other investments. In other words, you need to look at the interest rate that you would be charged by financing the project and compare this to the interest you could earn by investing these funds.
Also remember that interest payments on a home improvement loan may be tax-deductible, while you can't write off the expenses of a remodeling project paid for in cash. Crunch the numbers and meet with a financial advisor to determine whether paying in cash will really pay off in the long run.
Home Improvement Loan
Two special loans administered through the Federal Housing Administration (FHA) are the Title I and Section 203(k) programs. A Title I loan allows you to borrow up to $25,000 for improvements to a single-family home. These are fixed-rate loans that FHA insures against the risk of default. Loans must be made by an approved Title I lender.
The 203(k) program is not as well known, but if you are looking to purchase a fixer-upper, it is a terrific opportunity. It allows homeowners to receive a single, long-term, fixed or adjustable rate loan that covers both the acquisition and rehabilitation of the property. To obtain a loan under the 203(k) program, you must use an FHA-approved lending institution. Most mortgage lenders are approved to make loans through this program.
Home Equity Line of Credit
A home equity line of credit is a form of revolving credit in which your home serves as collateral. This allows you to tap into these funds whenever you need it. The credit line is usually set at 75 to 80% of the appraised value of your home minus the balance of the first mortgage. Your credit history and ability to pay may also be considered in determining the amount of credit available.
Home equity lines of credit usually carry a variable interest rate that is figured by adding a margin to the current Prime Rate or some other index. Other costs associated with setting up a line of credit may also apply and will vary from lender to lender.
Second Mortgage
If you are not comfortable with the open-ended nature of a line of credit (which requires discipline to ensure that you don't go way over budget), a home equity loan, or second mortgage, may be right for you. This is a fixed-rate, fixed-term loan based on the equity in your house that is paid back in equal monthly installments over a specific period of time.
Cash-Out Refinancing
If interest rates today are significantly less than when you first purchased your house, refinancing your mortgage may be a wise move. This refinancing alternative allows you to use the accumulated equity in your home to take out a new loan to pay off your existing mortgage and then use the remaining funds for your remodeling project.
Make sure you factor in the length of time you plan to live in the house and the number of years left on your current mortgage before you decide to refinance.
Carefully consider the above options to determine what might be best for you or e-mail our team to discuss further. Please forward this e-mail to anyone else who might be considering a remodeling project.
Friday, February 12, 2010
Interested in Taking Advantage of the "Move Up" Buyers $6000 Tax Credit?? Read Here For More Info!!
From Our Team: Do You Want to 'Move Up?' The Clock Is Running!
Do you Want to ‘Move-Up’? The Clock Is Running!
While you’ve probably heard a lot in the media about the government’s efforts to rejuvenate the housing market with the first-time home buyer tax credit, you might have missed the fact that the most recent expansion of the legislation also includes a $6,500 credit for current homeowners who want to purchase a new home…commonly referred to as “moving up.”
Our team has worked with many homeowners who have wanted to move to a new home over the past year, but have stayed put due to a lack of confidence in the market. Now, however, thanks to the tax advantages of the Worker, Homeownership, and Business Assistance Act of 2009, these homeowners are moving off the sidelines and purchasing the homes they’ve always wanted.
But the time to act is now—there is only a short window of opportunity! The move-up buyer credit expires in April of 2010, which means you must contract and close on your home purchase by June 30, 2010. As you know, selecting a home is not a simple process, so start your search now so you don’t miss the deadline.
For starters, here are the key facts you need to know about the move-up buyer tax credit:
1. A qualified current homeowner who wishes to move to a different home (a “move-up” buyer) must have owned and resided in their residence for five consecutive years out of the last eight. It’s not enough that you have been homeowners for five years—you must have been in the same home for five consecutive years.
2. Single taxpayers with incomes up to $125,000 and married couples with a joint income up to $225,000 qualify for the full tax credit. According to Goldman Sachs, these income limits make approximately 70% of current homeowners eligible for the credit.
3. The maximum credit amount for current homeowners is $6,500. Under the new legislation, a tax credit may only be issued for homes purchased for $800,000 or less.
4. Even though the term “move-up” is used to describe these buyers, the credit is not predicated on buying a home of higher value than your current home.
5. Move-up buyers are not required to sell their current home to qualify for the credit. They must reside in the new home for at least three years, but they can keep their existing home and either leave it vacated or use it for rental purposes.
These are just a few of the key facts surrounding the move-up buyer tax credit. If you would like to find out more, including whether or not you are eligible for the credit, please e-mail our team. Be sure to forward this email to all your homeowner friends so they can take advantage of this once-in-a-lifetime opportunity.
Do you Want to ‘Move-Up’? The Clock Is Running!
While you’ve probably heard a lot in the media about the government’s efforts to rejuvenate the housing market with the first-time home buyer tax credit, you might have missed the fact that the most recent expansion of the legislation also includes a $6,500 credit for current homeowners who want to purchase a new home…commonly referred to as “moving up.”
Our team has worked with many homeowners who have wanted to move to a new home over the past year, but have stayed put due to a lack of confidence in the market. Now, however, thanks to the tax advantages of the Worker, Homeownership, and Business Assistance Act of 2009, these homeowners are moving off the sidelines and purchasing the homes they’ve always wanted.
But the time to act is now—there is only a short window of opportunity! The move-up buyer credit expires in April of 2010, which means you must contract and close on your home purchase by June 30, 2010. As you know, selecting a home is not a simple process, so start your search now so you don’t miss the deadline.
For starters, here are the key facts you need to know about the move-up buyer tax credit:
1. A qualified current homeowner who wishes to move to a different home (a “move-up” buyer) must have owned and resided in their residence for five consecutive years out of the last eight. It’s not enough that you have been homeowners for five years—you must have been in the same home for five consecutive years.
2. Single taxpayers with incomes up to $125,000 and married couples with a joint income up to $225,000 qualify for the full tax credit. According to Goldman Sachs, these income limits make approximately 70% of current homeowners eligible for the credit.
3. The maximum credit amount for current homeowners is $6,500. Under the new legislation, a tax credit may only be issued for homes purchased for $800,000 or less.
4. Even though the term “move-up” is used to describe these buyers, the credit is not predicated on buying a home of higher value than your current home.
5. Move-up buyers are not required to sell their current home to qualify for the credit. They must reside in the new home for at least three years, but they can keep their existing home and either leave it vacated or use it for rental purposes.
These are just a few of the key facts surrounding the move-up buyer tax credit. If you would like to find out more, including whether or not you are eligible for the credit, please e-mail our team. Be sure to forward this email to all your homeowner friends so they can take advantage of this once-in-a-lifetime opportunity.
Thursday, February 11, 2010
Right Way to Manage Your Credit Cards!
The Right Way to Manage Your Credit Cards
While one in seven Americans has at least 10 credit cards, the average is four, according to a report from Experian. Usage on credit cards has dropped dramatically in the last two years as financially constrained consumers have reduced spending and begun paying off debt. The national average interest rate on credit cards as of November 2009 is 12.64%, which has declined 0.45% from six months earlier.
As a member of the Top 5 in Real Estate Network®, I, along with my team, know that mortgage-seeking clients are always asking for advice on how they can improve their credit profile, such as the number of credit cards they should have. According to the credit experts at ApprovalGuard.com, however, it’s not just the number of credit cards you have, but how you use and manage those cards.
Here are some critical tips for managing your credit cards in order to maximize your credit profile:
1.Use your credit cards regularly, but in small amounts, never exceeding 30% of your entire credit line. For example, if your card limit is $4,000, set a self-imposed limit to keep your balance at $1,200.
2.Even if you pay your bills on time, coming close to your full balance each month affects your credit score negatively. Regularly maxing out your card limit is a bad habit in the eyes of credit-rating firms. It’s better to spread your credit charges out over two or three cards, keeping each balance at or below 30% of your total credit line.
3.Don’t get rid of old cards even if they have higher interest rates than ones you may get on newer cards. Credit rating firms like to see a well-established history, so utilize your old cards every so often for small purchases.
4.On the flip side, avoid getting new cards, if possible. When you add a new credit card, your credit score will likely suffer a temporary drop until you have established a payment history with that card.
Well-managed credit cards will assist you in establishing a stronger credit profile and better credit scores that can potentially lead to lower interest rates and terms when applying for home loans. For more information on shoring up your credit profile, please e-mail our team. Feel free to pass this important article along to your friends, colleagues and family. All of us can use some guidance in managing our credit in today’s economic environment.
While one in seven Americans has at least 10 credit cards, the average is four, according to a report from Experian. Usage on credit cards has dropped dramatically in the last two years as financially constrained consumers have reduced spending and begun paying off debt. The national average interest rate on credit cards as of November 2009 is 12.64%, which has declined 0.45% from six months earlier.
As a member of the Top 5 in Real Estate Network®, I, along with my team, know that mortgage-seeking clients are always asking for advice on how they can improve their credit profile, such as the number of credit cards they should have. According to the credit experts at ApprovalGuard.com, however, it’s not just the number of credit cards you have, but how you use and manage those cards.
Here are some critical tips for managing your credit cards in order to maximize your credit profile:
1.Use your credit cards regularly, but in small amounts, never exceeding 30% of your entire credit line. For example, if your card limit is $4,000, set a self-imposed limit to keep your balance at $1,200.
2.Even if you pay your bills on time, coming close to your full balance each month affects your credit score negatively. Regularly maxing out your card limit is a bad habit in the eyes of credit-rating firms. It’s better to spread your credit charges out over two or three cards, keeping each balance at or below 30% of your total credit line.
3.Don’t get rid of old cards even if they have higher interest rates than ones you may get on newer cards. Credit rating firms like to see a well-established history, so utilize your old cards every so often for small purchases.
4.On the flip side, avoid getting new cards, if possible. When you add a new credit card, your credit score will likely suffer a temporary drop until you have established a payment history with that card.
Well-managed credit cards will assist you in establishing a stronger credit profile and better credit scores that can potentially lead to lower interest rates and terms when applying for home loans. For more information on shoring up your credit profile, please e-mail our team. Feel free to pass this important article along to your friends, colleagues and family. All of us can use some guidance in managing our credit in today’s economic environment.
Thinking of Relocating?? Here is Why You Should Use Robbi Campbell Properties Team!!
Relocating? Top 5 Reasons to Find the Right Real Estate Agent Team
Believe it or not, even though selling and buying a home is one of the most stressful, most important financial and lifestyle investments you’ll ever make, most people spend very little time in selecting a real estate agent or team to work with. Even worse, most people tend to believe that all real estate agents and teams are the same and possess the same skill sets and capabilities.
As a member of the Top 5 in Real Estate Network®, an elite group of real estate agents that requires members to meet a series of stringent criteria before joining, I, along with my team, know all too well how wrong the above perceptions are. When confronting any real estate decision, especially one that involves relocating to a different region or state, it is critical to select an agent team with the necessary skills, experience and proven results.
Here are the top 5 reasons to use a professional real estate agent team to handle your relocation:
1. The amount of homework involved. Moving to a new area means conducting a lot of research to learn about school systems, recreational activities, community services, etc. A seasoned, qualified agent team will do most of this work for you and will suggest accurate resources for you to search out on your own.
2. The need for sounding boards. A relocation places a fair amount of stress not just on you, but on your entire family. There will be lots of concerns, questions and anxieties involved. A professional real estate agent team has dealt with this situation hundreds or thousands of times and will know how to listen and respond with the right information to allay the fears of your entire family.
3. Settling into the new area. Successfully acclimating to the new area means quickly finding access to your favorite sports, hobbies, interests, etc. A professional real estate agent team is well-steeped in his or her community and will help get you and your family involved in the things you love to do right away.
4. Gathering the right paper work. From school records to medical information, there is a lot of paperwork that needs to relocate with you. Your real estate agent team should be able to provide you with a checklist of all the materials you will need to gather and transport well in advance.
5. A network of professionals. Successfully relocating to a new area requires not just working with a professional real estate agent team, but many other credible professionals as well, such as builders, landscapers, handymen, child care providers…the list goes on. The right agent team is well entrenched with many proven professionals in all of these fields and more, and can serve as a single hub for great referrals. Top 5 Members have access to a large network of other Top 5 Members across North America, ready to assist in your successful relocation.
Handled correctly, a relocation is a positive, exciting experience—a fresh start, not a painful mistake. If you’d like to learn more about ensuring a smooth and happy relocation, feel free to e-mail our team and I’d be happy to share what I know. Please pass this e-mail along to family and friends who might also have a relocation in their future.
Believe it or not, even though selling and buying a home is one of the most stressful, most important financial and lifestyle investments you’ll ever make, most people spend very little time in selecting a real estate agent or team to work with. Even worse, most people tend to believe that all real estate agents and teams are the same and possess the same skill sets and capabilities.
As a member of the Top 5 in Real Estate Network®, an elite group of real estate agents that requires members to meet a series of stringent criteria before joining, I, along with my team, know all too well how wrong the above perceptions are. When confronting any real estate decision, especially one that involves relocating to a different region or state, it is critical to select an agent team with the necessary skills, experience and proven results.
Here are the top 5 reasons to use a professional real estate agent team to handle your relocation:
1. The amount of homework involved. Moving to a new area means conducting a lot of research to learn about school systems, recreational activities, community services, etc. A seasoned, qualified agent team will do most of this work for you and will suggest accurate resources for you to search out on your own.
2. The need for sounding boards. A relocation places a fair amount of stress not just on you, but on your entire family. There will be lots of concerns, questions and anxieties involved. A professional real estate agent team has dealt with this situation hundreds or thousands of times and will know how to listen and respond with the right information to allay the fears of your entire family.
3. Settling into the new area. Successfully acclimating to the new area means quickly finding access to your favorite sports, hobbies, interests, etc. A professional real estate agent team is well-steeped in his or her community and will help get you and your family involved in the things you love to do right away.
4. Gathering the right paper work. From school records to medical information, there is a lot of paperwork that needs to relocate with you. Your real estate agent team should be able to provide you with a checklist of all the materials you will need to gather and transport well in advance.
5. A network of professionals. Successfully relocating to a new area requires not just working with a professional real estate agent team, but many other credible professionals as well, such as builders, landscapers, handymen, child care providers…the list goes on. The right agent team is well entrenched with many proven professionals in all of these fields and more, and can serve as a single hub for great referrals. Top 5 Members have access to a large network of other Top 5 Members across North America, ready to assist in your successful relocation.
Handled correctly, a relocation is a positive, exciting experience—a fresh start, not a painful mistake. If you’d like to learn more about ensuring a smooth and happy relocation, feel free to e-mail our team and I’d be happy to share what I know. Please pass this e-mail along to family and friends who might also have a relocation in their future.
Friday, February 5, 2010
Top 9 Reverse Mortgage Myths - Separating Fact from Fiction!
Top 9 Reverse Mortgage Myths – Separating Fact from Fiction
RISMEDIA, February 5, 2010—Recent headlines pointing to the detriments of reverse mortgages aren’t getting the story straight. One of the nation’s leading reverse mortgage lenders, Generation Mortgage Company, wants to separate fact from fiction. For the full article, click on this link!
http://manage.top5inrealestate.com/media/news/0/id/14105
Friday, January 29, 2010
Tuesday, January 26, 2010
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