02/17/2010 by admin.

Remember that famous line delivered so vehemently by Jack Nicholson in A Few Good Men, “You can’t handle the truth!”? I love that line. It so eloquently explains half of the problem with getting to the truth today.  The other half of that is that some don’t want us to know the truth. 

Last week, I shared why I believe America’s economic situation will get worse beforebefore getting better and exhorted everyone to begin planning to survive the upheaval.This week, part of what I want you to know is WHY foreclosures are going throughthe roof while the loan modification program is going largely unused. Is it becausehomeowners are not applying for the loans? Nope. Watch this video.

Is your blood boiling yet?

Here is the truth: America’s economy is in trouble and it is affecting all of us. But here iswhat you need to know about buying or selling real estate in this market. Buyers: Don’t let a fear of the market keep you from purchasing a home, just buy in the smartest way
that you can. Buying is still smart in this economy if you believe that you will be in your home long term. Purchasing with the idea that you will turn the house in under 5 years is not a good idea unless you really do need to move.

If you know that you will need to buy a home within the next 2 years, it will be better foryou to make the move now if you can. Why? Because mortgage restrictions are gettingtighter and tighter. Prices are going down, but increased restrictions on mortgages may prevent otherwise qualified buyers from purchasing in the future.

Here is how to purchase now and still be ahead of the market. When you decide to buy, take into account any future price reductions you think may still happen. For instance, if you think prices may fall another 10%, make your offer between 10% and 12% below the list price.

Sellers, there are things you can do when listing your home. The first is to negotiate a better deal on the commission with your agent. Many agents just won’t budge on this, so just find one who will…or call me! There are many ways to structure a listing contract. When you are close to being upside down on your mortgage, the last thing you need is an agent whose only concern is to squeeze every penny you have out of you.

If you are already upside down, please don’t do what 75% of all Americans are doing right now which is simply walking away. The banks are the bad guys in this economy, but homewoners who walk away without trying to work with an agent on a short sale only add to the economy’s woes. One cultural value Americans need to return to is that of caring how our actions affect others. So, call an agent…or me!

Homeowners with some “head room” on their mortgage’s pay off amount should consider pricing their home right at market value in full knowledge that buyers will offer less. You have to know up front what your bottom line really is. And if that bottom line is not flexible, then you must be willing to let your home remain on the market for the long term.

I know money is tight, but minor fixes to your home will increase its marketability and value. Simple things like cleaning the carpets, removing the clutter, painting and simply keeping the yard looking nice can raise the value by up to $10,000. Make the effort. It will pay off.

Jack was wrong! Not only can we handle the truth, and keep our lives as sane as possible, but we can use the truth to our advantage.

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02/03/2010 by admin.

Recent headlines indicate that more and more homeowners nationwide are “walking away” from their homes - letting them go into voluntary foreclosure. And these poor homeowners think that’s the last of their worries, but they’re wrong about that.

In 30 States, mortgage companies can force what is known as a “deficiency judgment”. This means that the homeowner still owes the difference between the mortgage’s payoff amount and the amount the mortgage company received from either the sale of the home or a deed in lieu executed by the homeowner.

The former homeowner always owes the taxes on the difference, but more and more mortgage companies are going after mortgagees for the deficiency amounts. 

From Articles.DirectoryM.com: “Even if the bank accepts a “deed in lieu of foreclosure” they can still get a deficiency judgment against the borrower. The borrower is the one responsible for the mortgage or deed of trust payments and he may or may not be the homeowner. If the homeowner has a co-signer, the co-signer will be as legally responsible as the borrower to pay back the deficit due. Depending on whether the foreclosure is judicial or non-judicial, and the specific terms of the mortgage, the bank may not be able to seek a deficiency judgment. These laws vary state-by-state and should be reviewed carefully to determine which applies to the reader.”

PLEASE…Always speak to a real estate professional when deciding what to do. If you walk away, do so in full knowledge of the consequences.

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02/03/2010 by admin.

The American economy continues its slide downward affecting the field of my interest, real estate. And I just bet real estate is on your mind, too, though not likely in as wide a sense as for me. You are most likely concerned with how the market is affecting your asset - your home - whether or not you are a homeowner. In this article, I’ll explain about what to do in the current real estate market, but also how to save money and perhaps even get ahead while things around you fall apart.

I try to look for good news when I write these articles, but good and encouraging news stories are  getting harder to find. It is because of this that we all need to find ways to make it through the next few years.

One way to do this is to go ahead and buy a home while the prices and mortgage rates are low. Now, I realize you’re probably thinking that I’m just saying this because I’m a Realtor. There is no doubt that a rise in the gloomy market sales would benefit me. But I really am telling you the truth about this being a good time to buy. And remember, if you buy before the end of May, you will get to take advantage of the Buyer’s Tax Credit.

If you own your home, hang onto it unless you 1) absolutely need to move or 2) cannot make the payments. If you need to move, make sure you use a Realtor to list your home who will help you by cutting a deal with you that is more in favor of you than him or her. There are Realtors who will work with you on commissions and other costs. I am one of those and one of the few.

And if you cannot make your payments, a Realtor may be able to help you stay in your home. If you are struggling, you really need to talk with me because I can show you what to do and will tell you what will work in your situation.

Real estate aside, there are other things you can do right now to cut your living expenses beyond the trite advice of turning off lights when you leave a room and making sure to insulate around doors and windows. Your electric bill is likely a big chunk of your budget. You can cut the cost of electricity with a gadget that stops “vampire energy”. What is vampire energy? It is the use of electrical power when your appliance is shut off. Many people do not know that appliances left plugged in continue to use electricity. A “smart strip” stops this by totally disconnecting turned off appliances. The cost is between $30 and $45, but the savings can be substantial.

Programmable thermostats also save money by regulating temperatures automatically. They don’t cost a lot, but will put money into your pocket over the long haul.

Unemployment is one of the worst things that can happen to a family. So, if you find yourself in this position, there are some things you can do to affect your outflow of money. Being unemployed means you probably have more time on your hands which makes this a perfect time to learn to cook from scratch. Purchasing ingredients to make meals rather than buying pre-made meals can cut your grociery costs by as much as one-third to one-half.

Additionally, if you purchase large sacks of wheat and rice in their grain form and a grinder, you can make delicious bread, pasta, crackers. This may seem somewhat drastic, but it really isn’t if you consider that a 50 pound bag of wheat is less than $40. Bags of rice from Sam’s Club is around $50. Fifty pounds of grain can feed a family for a long time.

Consider purchasing a whole beef animal with a bunch of friends from a local farmer. He will charge you a lot less than the supermarket for the meat, but you will have to have a local meat cutter process it for you. Still, the cost will be less.

With all that extra time on your hands you can get into food preservation. For under $100, you can get a food dehydrator. Go on http://www.dehydrate2store.com/ to see how easy it is to start preserving and storing food. Food savings can be substantial by doing this.

Read The 2 Secrets of Wealth Creation. In it, I show people how to use gold and silver to secure their future.

Being a Realtor is not my main purpose in life. It is a way for me to help people live the life they want. Sometimes we have to change the means we use to get to the life we want. It is helping people learn how to get around their roadblocks that I like the most. I hope this article has inspired you to start thinking about living a good life in a different way than you are used to. In the future, I will share more tips and strategies.

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01/26/2010 by admin.

The 2 Secrets of Wealth Creation
There are only 2 things that create wealth, but most people don’t know what they are. This is sad because both are SO simple! And, no, this is not an advertisement - It is REAL information that you can put to use this week!

It’s likely closing time for these chains in 2010
Struggling retailers may have to shutter outlets to weather the downturn

Promising Outlook for Commercial Real Estate Worldwide in 2010
Worldwide, 2010 looks promising for commercial real estate investment across most markets, and Asia offers the best opportunities

Locking Loans Ahead of Treasury Auctions and FOMC Statement
Reports from fellow mortgage professionals indicate lenders have passed along better rates this morning.

FHA Keeps Promise. Continues to Crack Down on Lenders
On January 20, the Federal Housing Administration (FHA) announced that its plan to shore up the agency’s capital reserves included stepped up enforcement of its rules and increased supervision of its lenders. Yesterday it released details of the first crackdown. Four mortgage lenders were notified that they were immediately and permanently removed from obtaining FHA approval for loans. Three others were also penalized.   

CBO Says Jobless Rate Won’t Turn Down Until Mid-Year
CBO expects that the unemployment rate, now 10%, will rise before turning down in the second half of the year, averaging 10% in the last three months of 2010.

Posted in Branson/Tri-Lakes Market, News | No Comments »

01/21/2010 by admin.

The new FHA guidelines may bring consternation to most sellers, but it shouldn’t. Tightening the money will have a good effect on the real estate market. Expect prices to stabilize instead of falling further and expect these new guidelines to bring better qualified buyers to your home.

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01/21/2010 by admin.

These two stories:

FHA plans to require borrowers to produce more cash for down payments
The Federal Housing Administration plans to increase the amount of up-front cash paid by all new borrowers and to require higher down payments from those with the poorest credit, according to agency officials

and

FHA Increases Upfront MIP Fee; Raises Credit Score Requirement; Reduces Seller Concessions
As promised in December, the Federal Housing Administration has announced the details of changes intended to strengthen its capital reserves which were reported to be headed into dangerously low territory late last year

may be causing buyers some consternation.

Buyers with poor credit will be the most impacted in the short term, but in the long term, buyers will be helped if FHA’s tactic works. Why is this? It is because the market will tighten up again, the dollar will strengthen and home prices will stabilize. This will make it possible for buyers with poor credit to establish good credit and will also give them time to save money for the down payment.

We must not think that the Aermican dream of homeownership is dead. In the early days of America, buyers bought homes with cash. There were far less mortgages in those days. And we may be headed there again.

It wasn’t until after WWII that the mortgage expanded to what we see today. So in the long run, buyers will find themselves in a better position than their parents in that the current economy will have forced them into frugality and saving, habits that will allow them to pay cash for homes or pay larger down payments  and have less mortgage to pay off.

Every downturn has a benefit and I believe this future benefit to buyers will be significant.

Posted in Branson/Tri-Lakes Market, Advice For Buyers, News | No Comments »

01/21/2010 by admin.

I am sometimes asked by people who are not in the real estate market to buy or sell why I send this information. My answer is that there are only two true economic market factors. These are real estate and metal prices (gold and silver, especially gold). The rise and fall of these two markets are indicators of the actual value of the dollars in your own pocket. It is these that more directly influence the inflationary prices on the grocery store shelves than any other indicators, including the stock market. Know what your dollars hold in store for you by watching these two markets.

These headlines pertain mostly to real estate because gold has begun to stabilize. See the report at Reuters.com. This could be good news for a strengthening dollar, which in turn is good for consumers looking to avert further inflation.

This newsletter is designed to help you stay informed at a glance so that you can prepare for the possibilities.

Housing starts fall, but permits soar
NEW YORK (CNNMoney.com) — Home construction fell in December, government data showed Wednesday, while the number of building permits issued in the month rose. Construction of new homes fell to an annual rate of 557,000 during the month, down 4% from the revised November rate of 580,000, the Commerce Department said.

Harder to get an Uncle Sam mortgage
Federal Housing Administration tightens standards for loans to reduce risk and restore its ravaged finances. But the downpayment remains a low 3.5% for most borrowers.

Homebuyer tax credit: No e-file and four-month delays
Good news homebuyers: You can file for your $8,000 first-time buyer tax credit again.
Bad news: You still can’t e-file your taxes if you want the cash. And there are long delays.

Going Green Trims Taxes
Installing energy-efficient home improvements like windows and doors in your principal residence will qualify you for a tax credit.

FHA plans to require borrowers to produce more cash for down payments
The Federal Housing Administration plans to increase the amount of up-front cash paid by all new borrowers and to require higher down payments from those with the poorest credit, according to agency officials.

FHA Increases Upfront MIP Fee; Raises Credit Score Requirement; Reduces Seller Concessions
As promised in December, the Federal Housing Administration has announced the details of changes intended to strengthen its capital reserves which were reported to be headed into dangerously low territory late last year. 

Entrepreneurs turn housing bust into boom
One of the most far-reaching results of the market fall was a tidal wave of sheer bias against any businesses involved in the housing market. Some businesses re-branded successfully, but many more failed and closed shop. Some businesses, however, were able to ride the waves of change rather than drowning beneath them.

Get more information at my blog and at my website. And you can follow me on Kimberly Rogers

and

.Your friend in the business,
Kimberly Rogers
417-849-7991

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01/08/2010 by admin.

01/08/10 -

Great Gifts for the Green Geek
Here are some more ideas for presents that meet at least some of the parameters for environmental friendliness.

Default looms on huge NYC real estate deal
A New York City politician said Friday developers will miss a multimillion-dollar loan payment on the biggest real estate deal in U.S. history.

Mortgage Rates Stuck in Holding Pattern. Two Steps Forward, Two Back
Mortgage rates have been stuck in a back and forth battle all week. We started the new year with improvements which carried over into Tuesday only to see positive momentum fizzle out yesterday morning

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01/07/2010 by admin.

There are two reasons the home-sales report isn’t a big deal. First, housing is a highly seasonal business, so the most relevant statistic isn’t the month-to-month trend but the year-to-year trend, which saw improvement. Also, we’re going to have to have this recovery without housing. In fact, we already are. …More…

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01/07/2010 by admin.

Baby, it’s cold outside! And that’s bad news for anybody who’s been to the gas station lately.

The frigid temperatures across much of the United States so far this year are one reason why energy prices have recently spiked. Crude oil is now hovering around $82.50 a barrel, barely below a 14-month high…More…

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