RISMEDIA, June 7, 2010—When selling your home, it is important to keep the following tips in mind so that you get the most money for your property in the least amount of time. Whether you are selling the home yourself or working with an experienced agent, it is crucial to keep these five tips in mind as you go through the selling process.

Tip 1: If you decide to use a full service broker/agent, first identify three experienced agents who are familiar with your neighborhood. Look for agents who have for sale signs placed in your neighborhood. Ask each prospective agent to prepare a market analysis and a marketing plan to show you how they will market your home. Include the main points of your marketing plan in your listing agreement so that all parties will know what is to be expected (i.e. frequency of ads and the publications/websites where they’ll appear, frequency of open houses, etc.). Limit the length of the listing – two months or less is good, but no more than three months. If the agent is doing his/her job as set out in the listing agreement, you can always renew the listing when it expires. If they’re not producing results, you’ll be able to document the reasons if you decide to cancel the listing early or be able to show them why you aren’t renewing the listing with them.

Tip 2: If you decide to market the home yourself, it is still a good idea to talk to three full service broker/agents before making a final decision. It will provide an additional reality check to make sure you really are prepared to market the home yourself, and the market analysis and marketing plan information will be helpful in any event. Even if you still feel good about selling the home yourself, supplement your marketing efforts by using a limited service or flat fee broker who will list your home in the local multiple listing service (MLS) for as little as $200. This is extremely helpful to your marketing efforts because the MLSs feed the listings to the consumer-facing websites of most of the other local real estate brokers and to realestate.com, one of the world’s largest real estate websites. With 80% of home buyers now using the Internet, it’s important that your home gets broad Internet exposure.

Tip 3: Price your property realistically, especially in slow markets. When markets are slow, buyers are psychologically unprepared to overpay – and they apply stringent standards of value. They will heavily discount many expensive and unusual improvements unless they appeal very strongly to their own personal tastes.

Tip 4: Consider providing owner financing if you can, but be cautious. If you can provide some financing, even if it’s a small second trust, you may be offering the deal maker. At the same time, you can often earn a considerably higher interest rate than you would have earned with the same money otherwise. Caution: Fluctuating real estate markets can wipe out your security in the event of foreclosure. Foreclosures cost money and a second trust only gets paid after the first mortgage is satisfied, and then only if there’s money remaining from the sale. Make sure to run a credit check on the buyer and make sure they put up a substantial down payment if you’re providing owner financing.

Tip 5: Make sure you don’t prematurely give away any bargaining leverage. All home purchase agreements must be in writing to be binding. If someone asks if you would take a specific lower figure and you agree, that’s not an enforceable contract. All you have done is to lower your asking price. The correct response should be: “I’ll consider all written offers.”

     If you’re like most homeowners, there is never a shortage of options when it comes to projects around the house. But studies have shown that some of the highest return on household improvements can come from those on the outside, not the inside.

A primary reason is that outside investments can produce curb appeal, which is especially important if you are planning to sell your home. Those same improvements can enhance the enjoyment factor if you and your family plan to stay in your home. 

For example, one national industry resource—the National Association of Realtors, reported recently their experience shows a new wood deck produces the second highest return on home improvement investment of any common addition, remodel or replacement project.

However projects don’t have to be big to add value or enjoyment, according to Jimmy Rane, president of Great Southern Wood Preserving, a leading producer of pressure-treated lumber products and maker of YellaWood brand products.

The following popular outside improvement projects will increase the curb appeal or value of a home: 

Adirondack chairs—Uniquely-American classic outdoor furniture is made entirely of wood and has a straight back and seat, which are set at a slant to sit comfortably on a hillside or mountain incline, but still be comfortable at any angle.

Gazebo—A gazebo can be freestanding or attached to a garden wall, roofed and open on all sizes to provide shade or shelter.

Planters and window boxes—Planters have become popular because they are both functional and ornamental. Additionally, some can be moved frequently to account for seasonal weather or just to create a change in scenery.

Picnic table—Picnic tables go well on a patio or a deck, but equally as well on the grass or under a tree in the yard. A traditional picnic table is all in one piece so that it wears well without a lot of maintenance.

Trellis—A trellis can function as a unique sun screen or it can be the framework for an outdoor hanging garden. Building it with pressure treated lumber can add life by minimizing rotting and other threats.

Trash can corral or compost bin—While many outdoor projects tend to be cosmetic in nature, here are two ideas that are both practical and pretty. With a trash can corral, you can hide unsightly trash cans and with a compost bin, you can reduce your own carbon footprint in a 

RISMEDIA, June 10, 2010—If you’re like most homeowners, there is never a shortage of options when it comes to projects around the house. But studies have shown that some of the highest return on household improvements can come from those on the outside, not the inside.

A primary reason is that outside investments can produce curb appeal, which is especially important if you are planning to sell your home. Those same improvements can enhance the enjoyment factor if you and your family plan to stay in your home. 

For example, one national industry resource—the National Association of Realtors, reported recently their experience shows a new wood deck produces the second highest return on home improvement investment of any common addition, remodel or replacement project.

However projects don’t have to be big to add value or enjoyment, according to Jimmy Rane, president of Great Southern Wood Preserving, a leading producer of pressure-treated lumber products and maker of YellaWood brand products.

The following popular outside improvement projects will increase the curb appeal or value of a home: 

Adirondack chairs—Uniquely-American classic outdoor furniture is made entirely of wood and has a straight back and seat, which are set at a slant to sit comfortably on a hillside or mountain incline, but still be comfortable at any angle.

Gazebo—A gazebo can be freestanding or attached to a garden wall, roofed and open on all sizes to provide shade or shelter.

Planters and window boxes—Planters have become popular because they are both functional and ornamental. Additionally, some can be moved frequently to account for seasonal weather or just to create a change in scenery.

Picnic table—Picnic tables go well on a patio or a deck, but equally as well on the grass or under a tree in the yard. A traditional picnic table is all in one piece so that it wears well without a lot of maintenance.

Trellis—A trellis can function as a unique sun screen or it can be the framework for an outdoor hanging garden. Building it with pressure treated lumber can add life by minimizing rotting and other threats.

Trash can corral or compost bin—While many outdoor projects tend to be cosmetic in nature, here are two ideas that are both practical and pretty. With a trash can corral, you can hide unsightly trash cans and with a compost bin, you can reduce your own carbon footprint in a way that doesn’t take away from the visual appeal of the place.

way that doesn’t take away from the visual appeal of the place.

RISMEDIA, June 10, 2010—If you’re like most homeowners, there is never a shortage of options when it comes to projects around the house. But studies have shown that some of the highest return on household improvements can come from those on the outside, not the inside.

A primary reason is that outside investments can produce curb appeal, which is especially important if you are planning to sell your home. Those same improvements can enhance the enjoyment factor if you and your family plan to stay in your home. 

For example, one national industry resource—the National Association of Realtors, reported recently their experience shows a new wood deck produces the second highest return on home improvement investment of any common addition, remodel or replacement project.

However projects don’t have to be big to add value or enjoyment, according to Jimmy Rane, president of Great Southern Wood Preserving, a leading producer of pressure-treated lumber products and maker of YellaWood brand products.

The following popular outside improvement projects will increase the curb appeal or value of a home: 

Adirondack chairs—Uniquely-American classic outdoor furniture is made entirely of wood and has a straight back and seat, which are set at a slant to sit comfortably on a hillside or mountain incline, but still be comfortable at any angle.

Gazebo—A gazebo can be freestanding or attached to a garden wall, roofed and open on all sizes to provide shade or shelter.

Planters and window boxes—Planters have become popular because they are both functional and ornamental. Additionally, some can be moved frequently to account for seasonal weather or just to create a change in scenery.

Picnic table—Picnic tables go well on a patio or a deck, but equally as well on the grass or under a tree in the yard. A traditional picnic table is all in one piece so that it wears well without a lot of maintenance.

Trellis—A trellis can function as a unique sun screen or it can be the framework for an outdoor hanging garden. Building it with pressure treated lumber can add life by minimizing rotting and other threats.

Trash can corral or compost bin—While many outdoor projects tend to be cosmetic in nature, here are two ideas that are both practical and pretty. With a trash can corral, you can hide unsightly trash cans and with a compost bin, you can reduce your own carbon footprint in a way that doesn’t take away from the visual appeal of the place.

Studies have indicated that purchasing a home can be one of the most stressful things you do in your life; however, it does not need to be. Purchasing a home should be fun, exciting and stress free and we are dedicated to ensuring that all of our customers have this type of experience!

We can present you with a simple, yet professional layout of what is available to you with all the information that will aid in your purchase decision. We are here to take care of the influx of paper work, endless legalities, and fine details.

Timing pressures, financial burdens, and stress factors in everyday life can cause a negative effect on a home purchasing experience. No matter what the circumstances are we will help develop a plan of action that suits your needs, wants, and situation. To us it is not simply the sale of a house, but an investment in your future, a collection of memories and a place for you to call home.

We can’t wait to take your dreams and turn them into reality

Contact the Estill Team today, where Experience Makes The Difference!

Mortgage rates fall to lowest level of the year

National average for a 30-year fixed loan slips slightly to 4.78 percent

Turmoil in the stock market and the European debt crisis are making life easier for American homebuyers and families looking to refinance: Mortgage rates are inching closer to a record low.

The window of opportunity may close soon. Home loan rates will rise if investors grow more confident and shift money out of the safety of government bonds, which influence mortgage rates.

For now, though, rates are tantalizingly low. The average 30-year fixed-rate loan sank to 4.78 percent this week, the lowest this year and barely above the record of 4.71 percent set in December. And 15-year loans are at their lowest rates in two decades. 

“Strike now,” suggested Greg McBride, senior financial analyst at Bankrate.com.

Some homeowners are doing just that. Applications to refinance surged this week to the highest level in seven months, the Mortgage Bankers Association said.

Anxiety over the European crisis has caused global investors to snap up Treasury bonds, which they view as much safer than other investments. Treasury yields have fallen as a result, taking mortgage rates down, too.

When the crisis eases, and especially if the American economy recovery stays on track, expect investors to move out of bonds and back into stocks. That would make mortgages more expensive.

“If the economy finally really shows sustained improvement, rates are definitely going to go up,” said Fred Chamberlin, a consultant with Alpine Mortgage Planning in Eugene, Ore.

He suggests that homeowners looking to refinance move fast and not hold out for even lower rates. “If you want the bottom, the only way you’re going to know it is when you’ve missed it,” Chamberlin said.

As cheap as mortgages are these days, the number of loans being taken out to buy homes remains at its lowest point in more than 13 years. One reason is that a special tax credit for homebuyers expired last month. Many people had rushed to sign contracts by then.

Another obstacle: trouble qualifying for a mortgage. Borrowers need solid credit and a down payment of at least 3.5 percent. Banks tightened lending standards after millions of borrowers fell into default and foreclosure during the housing bust.

“They’re really looking with a magnifying glass,” said Steve Mevorah, a loan officer with Icon Mortgage Inc. in Las Vegas. “They’re trying to make sure that they are flawless loans.”

Analysts had expected mortgage rates to rise when the government ended a program designed to bolster the housing market. Instead, they fell because of fears that Greece would default on its debt.

Also keeping rates low is the government’s decision last year to provide unlimited support through 2012 for Freddie Mac and Fannie Mae, which buy mortgages and package them into securities and help keep rates low.

Mortgage interest rates slipped for the second week in a row last week, with some rates reaching 2007 lows. According to Freddie Mac’s Primary Mortgage Market Survey the 30-year fixed-rate mortgage (FRM) averaged 6.18 for the week with an average of 0.4 point. The previous week it averaged 6.22 with 0.4 point. The rate is identical to the year’s low that occurred the week January 4. The 15-year FRM established a new low for the year at 5.92 percent, down five basis points from the previous week and two basis points lower than the first week of the year. Points were unchanged at 0.5. Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) also established a new 2007 low at 5.93 percent with 0.6 point. Last week it averaged 5.95 percent with 0.5 point which was the previous low for the year. The one-year Treasury-indexed ARM was unchanged from the previous week at 5.49 percent. Average fees and points did decrease to 0.6 from 0.7.

Sunsets are unique — one can never be duplicated and each has its own special memory       Florida is known as the Sunshine State. It is also known for its scrumptious oranges, Disney theme parks, world-class fishing and vacationing on the prestigious shores of the Gulf of Mexico. Every day the sun disappears below the horizon from the earth’s rotation. The time the sun sets around the world varies based on many factors; the longitude and latitude of where the viewer is, the time of year and elevation. I won’t get into the scientific lingo or the facts of earth’s rotation. I’ll just explain the beauty of the sunsets and leave the rest up to those who majored in astronomy and geometry. 

    There are millions of people who are drawn to Florida each year to see the breathtaking sunsets. Why do so many people come to Florida instead of vacationing in places like Belize, Mexico, Jamaica and other beautiful countries? I would guess there are many factors contributed to decisionmaking. Who wants to spend thousands of dollars for airfare and hotel accommodations when they can visit any region in Florida for a fraction of the costs? In today’s modern world, there are concerns of safety in some other countries and their vacation spots.   special “sunset view” sitting to their reservation or first-come first-serve customers. Why are we mesmerized by this daily event? We find disappointment on cloudy days when the sun sets behind the clouds, yet we still look forward to the next sunset.   never be duplicated and each one, if you can imagine it, has its own special memory. Who were you with? Was it a special occasion? Was it your first sunset over the Gulf of Mexico? How many pictures did you take? Finally, were you able to capture that special moment until your next Florida sunset? It is just one of the great treasures of living in or visiting Florida.

   The waters of Florida are a tranquil blue-green just like waters seen in these other countries. Whatever the reason, people of all ages head toward the area beaches to witness, perhaps for the first time, a beautiful sun setting over the Gulf’s horizon. Weddings and special events are often planned around the time the sun will set. Waterfront restaurants offer

   Vacationers and local residents begin to walk onto the beaches between 6 p.m. and 8 p.m. to find a good spot, lay down their blanket and position their chairs to get that perfect picture of the sun’s glorious magical journey below the horizon. It is like a show of fireworks when you are fortunate enough to witness that perfect sun setting over the water. Sunsets are unique in the sense that you will never see the same vision again. It can

Foreclosures in Charlotte and Sarasota counties continued their downward trend in April, with both reporting their lowest monthly totals in more than two years.Charlotte had 220 initial foreclosure filings last month, a 24-percent drop from March and 47-percent slide from April 2009, according to figures released Monday by the Charlotte County Clerk of Courts.In Sarasota, the county reported 442 initial foreclosures filings in April, a modest 3-percent decline from March and 49-percent plunge from the same time a year ago, according to the clerk of courts.For both counties, it was the lowest post since September 2007.This is excellent news, and it really looks like weíve begun to turn the corner, said Bob Gray, president of the Punta Gorda, Port Charlotte, North Port Association of Realtors. We were the first in, and it looks like we will be one of the first out.Gray said declining foreclosures are restoring prices on traditional homes to more stable levels.Fewer foreclosures entering the market also will help deflate the areaís existing home inventory, giving new construction a needed push. At the current pace, the areaís down to about seven monthsí worth of inventory, he said.There are a lot of crazy wild cards, but I have a positive outlook, Gray said. We’ve got great weather, its a great place to live, taxes are low and prices are still affordable. How could you go wrong?Foreclosures in Charlotte have now remained below the 300 mark every month this year.Similarly, April was Sarasotas second consecutive month with foreclosure totals under 500 a first since fall 2007, the data shows.we’re seeing foreclosures trend downward, which has been positive over the last few months, said Jim Masch, chief deputy with the Charlotte County Clerk of Courts. I think were probably over the curve and headed downward. Right now, its looking good.Masch fears the area could see another surge of foreclosures later this year driven by double-digit unemployment rates.Many seasonal residents have also returned north, which could spur further job losses in the hospitality sector.RealtyTrac, an independent online database that tracks foreclosure activity, is scheduled to release its findings later this month. ìThe more foreclosures we get off the market, the better off weíll be,î Charlotte County Commissioner Dick Loftus said. We need to get people in those homes and get building again.

RISMEDIA, May 5, 2010—Pending home sales increased again in March 2010, affirming that a surge of home sales is unfolding for the spring home buying season, according to the National Association of Realtors®. The Pending Home Sales Index (PHSI) forward-looking indicator based on contracts signed in March, rose 5.3% to 102.9 from 97.7 in February, and is 21.1% above March 2009 when it was 85.0; this follows an 8.3% increase in February. The data reflects contracts and not closings, which usually occur with a lag time of one or two months.

Lawrence Yun, NAR chief economist, said favorable affordability conditions have been working with the tax credit. “Clearly the home buyer tax credit has helped stabilize the market. In the months immediately following the expiration of the tax credit, we expect measurably lower sales,” he said. “Later in the second half of the year, and into 2011, home sales will likely become self-sustaining if the economy can add jobs at a respectable pace, and from a return of buyer demand as they see home values stabilizing.”

The PHSI in the Northeast declined 3.3% to 75.1 in March but remains 27.2% higher than March 2009. In the Midwest the index increased 1.2% to 98.9 and is 18.5% above a year ago. Pending home sales in the South jumped 12.7% to an index of 121.2, which is 28.3% higher than March 2009. In the West the index rose 1.9% to 99.9 and is 8.8% above a year ago.

“Another encouraging sign is the improvement in the availability for jumbo and second-home mortgages,” Yun said. “As bank balance sheets strengthen, it is just a matter of time before lending of non-government-backed mortgages steadily opens up.”

The National Association of Realtors, “The Voice for Real Estate,” is one of America’s largest trade associations, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

The index is based on a large national sample, typically representing about 20% of transactions for existing-home sales. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity parallels the level of closed existing-home sales in the following two months. There is a closer relationship between annual index changes (from the same month a year earlier) and year-ago changes in sales performance than with month-to-month comparisons.

An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined as well as the first of five consecutive record years for existing-home sales.

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