Guest Post

Eddie Kearns wrote to ask if he could put this guest post on Karen’s Perspective. I appreciate his initiative!

As a disclaimer, Eddie has never handled a short sale for me. Nevertheless, here is what he has to say. Please comment to let me know what you think about the article.

Short sale questions addressed

There are a lot of real estate professionals who are unsure about how to respond to homeowners and their concerns about short sales. Understandably, many homeowners are nervous about the idea of a short sale. The thought of going through one can be scary and unpleasant to go through with the amount of paperwork and disclosure involved. Here are a few responses you can use the next time a client expresses these concerns:

1. They want to review their options. Tell them you, as their agent (depending on your state and how involved you want to be) will help them check out other alternatives. In many cases the homeowner already knows they will not qualify for a loan modification because of unemployment, sickness or other unresolved hardship, and income levels that don’t meet the minimum requirements for a loan mod. In some cases their credit rating has already been too damaged to qualify. If these factors have not been reviewed before you sit down with the homeowner, do your client a favor, and make certain there are not other options. They’ll remember the kindness and come back to you should those other options fall through. It will also help boost your reputation as an honest, ethical agent who is looking to help people, not just profit off of them.

02 / 23 / 2010
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What Does It Mean to You, the Buyer, that You Have to Go “Full Doc”

Following is another Guest Post. This one was written by Lisa Delzompo. Lisa sells real estate in Temecula, CA. I appreciate her allowing me to re-post her article here.

What Does It Mean to You, the Buyer, that You Have to Go “Full Doc”

Over the past year, lending guidelines have tightened so much that, if you’re paying attention at all you know, buyers have to qualify “full doc” for loans. That means, full documentation of the buyer’s income, debts, and assets.

It is to the point that I provide my clients an overview letter, explaining the buying process in detail, including the fact that you’re going to be asked for information up front, during, and at the end of the loan process.

That sounds straightforward, but let’s take a look at what that means. First, keep in mind that if you provide an item of information, it needs to be Legible. I capitalize the word to point to its importance. The item you provide will be faxed or scanned another time after you send it to your loan officer; the people receiving that last copy are the underwriters, the ones whose job it is to sign off on every item of the checklist for your loan, saying you fulfilled that condition. Their job is on the line; they don’t know you from anyone; they don’t trust you; and they don’t distrust you. It simply is their job on the line to make sure that the loan they approve contained each item required on their checklist. If an item is blurry enough that they can’t read enough of the important details there, they will not sign off on that condition. If you have provided the same copy several times, and they are still saying they cannot read it, then you should go get a new, clean copy and send it in, asap. If you take several days to provide items you’ve been asked for, the process will take that much longer. In this age of internet and fax, it is common for clients to be able to provide items within minutes of being asked for them.

Let’s get to more details:

01 / 20 / 2010
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Making 2010 count.

Feet Washing

It’s a new year and we’re thinking about how we can make this year special. How we can make it important. What we can do this year that really matters.

I asked permission to include the following letter from a very close friend of mine. She spent the 2009 Christmas holidays volunteering at an orphanage in the Dominican Republic; 10 days helping to tear down and rebuild a building – nights playing, teaching and giving to the boys who live at the orphanage. Her letter is an inspiration to me and I pray that it will also inspire you as you set your goals to make a difference in 2010.

“We’re going to have a spa for the boys!” What does that mean, exactly? Spa – as in manis and pedis? Seriously? You want us to wash their feet? With our hands? Have you seen their feet?

Christmas Eve 2009 was going to be as special for these boys as the impressive Orphanage Outreach team could make it. With a group of dedicated, albeit skeptical, volunteers – anything was possible.

01 / 11 / 2010
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Guest Post: TRADE UP! 5 Reasons why this is the BEST market to upgrade!

Many thanks to Daniel Dima Batsalkin for this article. I found it on his site and asked his permission to re-post it here.

Have you thought about getting that bigger, better house in a better neighborhood? Well, I agree with Daniel that now is the best time. Prices are down and extremely negotiable, selection is huge, and interest rates cannot possibly stay this low for much longer.

Many people are concerned that they will loose money on their current home if they sell now. Daniel will tell you what’s wrong with that argument. I add to his comment that you may want to consider renting your current home rather than selling it. My husband and I just traded up in a big way over the summer. Rather than take a loss in this market on the home we were leaving, we signed a lease option agreement with people who could not qualify at this time for a loan. The profit we’re making there helps to offset the increase in our new house payment. There are always options.

If you don’t know what your options are, ask me here!

And now, enjoy Daniel’s post:

12 / 17 / 2009
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This House Stinks… Literally. another guest post…

I was reading today and came across this great article about house odors. The author, Clint Miller, gave me permission to post his article here.

First, I would like to add that we have heard good things for removing odors about Odorxit. I’ve also been told that running an ionizer will take out any odors in your home.

That being said, here’s the article from Clint:

“Believe it or not, the human nose can detect and clarify about 10,000 smells. That’s right….10,000! We know that the power of smell is one of the strongest senses we, as humans, posess. And recent studies have shown that scent is the strongest of our 5 senses and that it is tied directly to memory.

In my parent’s house, for example, my mother always made fresh peach pies in the late summer. To this day, I can smell a peach pie from a mile away and instantly I’m transported to my mom’s kitchen as a 7yr old boy in my swimsuit pacing around the table hoping to get a shot at sticking my finger into the peach filling while my mom wasn’t looking. (I got caught every time).