1. Marketers need a clear social media strategy
2. Maximize social marketing
3. Social is not a role, it’s the business fabric
4. Social is media
5. Social ROI becomes measurable
To see more on how they explain these trends read the full article
Thursday, January 28, 2010
Friday, January 22, 2010
10 Things to Know about Real Estate in 2010
1. Prices to bottom
2. Mortgages delinquencies up
3. Foreclosures move upstream
4. Mortgages rates to rise
5. Buyer’s market remains
6. Modification plan could be modified
7. FHA lending standards may increase
8. Tax credit available through June
9. Markets will vary a great deal by region
10. Mobile maps can help
To get more information and read the complete article go here
2. Mortgages delinquencies up
3. Foreclosures move upstream
4. Mortgages rates to rise
5. Buyer’s market remains
6. Modification plan could be modified
7. FHA lending standards may increase
8. Tax credit available through June
9. Markets will vary a great deal by region
10. Mobile maps can help
To get more information and read the complete article go here
When buying Real Estate Negotiate the Price with Property Defects
To give yourself the opportunity and time to inspect a property is to provide in your purchase contract that “final acceptance of this contract is subject to the buyer’s approval of the condition of the premises, title, and financial information on the date of settlement.” The reason for this is so that at settlement the contract can be carried through with or rejected.
You will first have everything at that point that you will need to know about the financing.
You will also at that time have had a chance to examine the title being conveyed for any discrepancies as well as any issues that will arise from the title insurance policy.
Finally, you will be able to have enough time to inspect the property once the seller has removed all their furnishings and can discover the big whole in the wall that the living room couch was hiding. No, not really, but you will be able to make a better informed decision on one of the biggest purchases you will be making in your life time.
At settlement, if defects were found that were not disclosed to you previously, you can approach the possibility of renegotiating the sales price, or ask for seller contributions if your loan allows, or reject the property all together.
In any case, it is always wise to hire a professional home inspector or any other professional that would help you make a better and more informed decision on the purchase of real estate. For instance, if you are concerned about a pool on the property you would hire a professional pool person, or the roof on the home you would get a professional roofer.
You will first have everything at that point that you will need to know about the financing.
You will also at that time have had a chance to examine the title being conveyed for any discrepancies as well as any issues that will arise from the title insurance policy.
Finally, you will be able to have enough time to inspect the property once the seller has removed all their furnishings and can discover the big whole in the wall that the living room couch was hiding. No, not really, but you will be able to make a better informed decision on one of the biggest purchases you will be making in your life time.
At settlement, if defects were found that were not disclosed to you previously, you can approach the possibility of renegotiating the sales price, or ask for seller contributions if your loan allows, or reject the property all together.
In any case, it is always wise to hire a professional home inspector or any other professional that would help you make a better and more informed decision on the purchase of real estate. For instance, if you are concerned about a pool on the property you would hire a professional pool person, or the roof on the home you would get a professional roofer.
Thursday, January 21, 2010
East Valley Market in Phoenix, AZ
Numbers looking good for the 1st half of the month here in the East Valley. Mesa currently has 2183 single family homes actively being sold, Gilbert has 1386, Apache Junction 284, Queen Creek 749, Chandler 1187, Tempe 397, and the new San Tan Valley 473.
Homes that have sold in the 1st half of this January 2010 are slow. Mesa has 170 sold single family homes for the first half, Gilbert has sold 106, Apache Junction 30, Queen Creek at 98, Chandler 112, Tempe 28, and San Tan Valley 38.
Lots of homes pending for all these cities so hopefully stronger numbers produce by the end of the month.
If you want to know about your neighborhood email me at Makalani@cox.net.
Homes that have sold in the 1st half of this January 2010 are slow. Mesa has 170 sold single family homes for the first half, Gilbert has sold 106, Apache Junction 30, Queen Creek at 98, Chandler 112, Tempe 28, and San Tan Valley 38.
Lots of homes pending for all these cities so hopefully stronger numbers produce by the end of the month.
If you want to know about your neighborhood email me at Makalani@cox.net.
Tuesday, January 19, 2010
HUD to speed up sales of foreclosres
HUD has announced a policy to expand FHA mortgage insurance to allow quick resale on foreclosed homes. Currently FHA will not insure mortgages where to home has not been owned by it current owner for more than 90 days. With this new policy in place it will allow FHA borrowers to purchase foreclosed homes as well as homes from “flippers”.
To get more information on this, visit HUD’s press release.
To get more information on this, visit HUD’s press release.
Sunday, January 17, 2010
$8000 First Time Home Buyer Tax Credit
Here are a few questions and answers that I thought you needed to know. All of this information can be credit?found on the IRS website.
Q. What is the the First Time Home-buyer Tax Credit
A. The credit was expanded in 2009 for homes purchased in 2009, increasing the amount of the credit and eliminating the requirement to repay the credit.
Q. How much is the credit?
A. The credit is 10 percent of the purchase price of the home, with a maximum available credit of $8,000 if you purchased your home in 2009. It is for either a single taxpayer or a married couple filing a joint return, but only half of that amount for married persons filing separate returns. The full credit is available for homes costing $80,000 in 2009.
Q. Which home purchases qualify for the first-time homebuyer credit?
A. Any home purchased as your principal residence and located in the United States qualifies. You must buy the home after April 8, 2008, and before May 1, 2010 (with closing to take place before July 1), to qualify for the credit.
Q. Who is considered to be a first-time homebuyer?
A. Taxpayers who have not owned another principal residence at any time during the three years prior to the date of purchase are considered first-time homebuyers. For example, if you bought a home on July 1, 2008, you cannot take the credit for that home if you owned, or had an ownership interest in, another principal residence at any time from July 2, 2005, through July 1, 2008.
Q. How do I apply for the credit?
A. The credit is claimed on IRS Form 5405, First-Time Homebuyer Credit, and filed with your 2009 federal income tax return.
Q. Are there income limits?
A. Yes. The credit is reduced or eliminated for higher-income taxpayers. The credit is phased out based on your modified adjusted gross income (MAGI). Different income limits apply to purchases on or before Nov. 6, 2009 and those after that date.
For purchases on or before Nov. 6, 2009, for a married couple filing a joint return, the phase-out range is $150,000 to $170,000. For other taxpayers, the phase-out range is $75,000 to $95,000. This means that the full credit is available for married couples filing a joint return whose MAGI is $150,000 or less and for other taxpayers whose MAGI is $75,000 or less.
For purchases after Nov. 6, 2009, for a married couple filing a joint return, the phase-out range is $225,000 to $245,000. For other taxpayers, the phase-out range is $125,000 to $145,000. This means that the full credit is available for married couples filing a joint return whose MAGI is $225,000 or less and for other taxpayers whose MAGI is $125,000 or less. (11/19/09)
Q. What is the the First Time Home-buyer Tax Credit
A. The credit was expanded in 2009 for homes purchased in 2009, increasing the amount of the credit and eliminating the requirement to repay the credit.
Q. How much is the credit?
A. The credit is 10 percent of the purchase price of the home, with a maximum available credit of $8,000 if you purchased your home in 2009. It is for either a single taxpayer or a married couple filing a joint return, but only half of that amount for married persons filing separate returns. The full credit is available for homes costing $80,000 in 2009.
Q. Which home purchases qualify for the first-time homebuyer credit?
A. Any home purchased as your principal residence and located in the United States qualifies. You must buy the home after April 8, 2008, and before May 1, 2010 (with closing to take place before July 1), to qualify for the credit.
Q. Who is considered to be a first-time homebuyer?
A. Taxpayers who have not owned another principal residence at any time during the three years prior to the date of purchase are considered first-time homebuyers. For example, if you bought a home on July 1, 2008, you cannot take the credit for that home if you owned, or had an ownership interest in, another principal residence at any time from July 2, 2005, through July 1, 2008.
Q. How do I apply for the credit?
A. The credit is claimed on IRS Form 5405, First-Time Homebuyer Credit, and filed with your 2009 federal income tax return.
Q. Are there income limits?
A. Yes. The credit is reduced or eliminated for higher-income taxpayers. The credit is phased out based on your modified adjusted gross income (MAGI). Different income limits apply to purchases on or before Nov. 6, 2009 and those after that date.
For purchases on or before Nov. 6, 2009, for a married couple filing a joint return, the phase-out range is $150,000 to $170,000. For other taxpayers, the phase-out range is $75,000 to $95,000. This means that the full credit is available for married couples filing a joint return whose MAGI is $150,000 or less and for other taxpayers whose MAGI is $75,000 or less.
For purchases after Nov. 6, 2009, for a married couple filing a joint return, the phase-out range is $225,000 to $245,000. For other taxpayers, the phase-out range is $125,000 to $145,000. This means that the full credit is available for married couples filing a joint return whose MAGI is $225,000 or less and for other taxpayers whose MAGI is $125,000 or less. (11/19/09)
Saturday, January 2, 2010
Looking for a treecycle place near you...
With the holidays over and the new year beginning, it's time to take down the decorations and recycle your christmas tree. In the easyvalley there are several locations.
East Mesa Service Center, 6935 E Decatur St
Solid Waste Management Dept, 730 N Mesa Drive
Susperstition Springs Police/Fire Station, 2430 S Ellsworth Rd
Mountain View Park, 845 N Lindsay Rd (enter off of Adobe St)
Dobson Ranch Park, 2363 Rd
For more info you can visit www.mesarecycle.org
East Mesa Service Center, 6935 E Decatur St
Solid Waste Management Dept, 730 N Mesa Drive
Susperstition Springs Police/Fire Station, 2430 S Ellsworth Rd
Mountain View Park, 845 N Lindsay Rd (enter off of Adobe St)
Dobson Ranch Park, 2363 Rd
For more info you can visit www.mesarecycle.org
Friday, January 1, 2010
Foreclosures and the consequences, or are there any?
I got the information from AAR online realtor magazine. It is taken from their Legal Hotline section. This may help answer some of your questions on the Anti-Deficiency Statute. Also, if you are a tenant do you have rights if your landlord is facing foreclosure?
"Anti-Deficiency Statute Protects Borrower Only after Foreclosure
The lender approved the short sale, but as a condition of approval the lender required that the seller sign an unsecured promissory note payable over three years for the short sale difference of $30,000. The short sale transaction closes. The seller is now refusing to make payments under the unsecured $30,000 promissory note because the seller asserts that the anti-deficiency statute prohibits any deficiency after foreclosure. If the anti-deficiency statute does not protect the seller, the seller intends to file bankruptcy. Does the anti-deficiency statute protect the seller from a collection lawsuit by the lender on the $30,000 unsecured promissory note? If not, can the seller discharge in the bankruptcy the $30,000 unsecured promissory note?
Answer: First, the anti-deficiency statute only prohibits a deficiency action against the borrower after the foreclosure of a home and does not apply to short sales. If the seller agreed to make payments under the $30,000 unsecured promissory note, the anti-deficiency statute does not protect the seller. Second, if the seller files bankruptcy, the $30,000 unsecured promissory note will probably be discharged in the bankruptcy proceedings.
Tenant Obligated to Pay Rent Payments during Foreclosure
The tenant is a college student and signed a one-year lease terminating June 30 at the end of the school year. The landlord has not been making the mortgage payments, and the tenant received notice that a foreclosure sale is scheduled in February. The tenant refuses to make any more rent payments to the landlord because the landlord is not making the mortgage payments. The landlord has delivered to the tenant a five-day notice of non-payment of rent and intends to evict the tenant. Can the landlord evict the tenant if the tenant refuses to make the rent payments?
Answer: Yes. The failure of the landlord to make the mortgage payments is probably an “anticipatory breach” of the lease entitling the tenant to terminate the lease and move out. (If the AAR lease was used, the AAR lease, line 206, specifically says that the landlord is in breach if the leased property is “the subject of a trustee’s sale.”) Therefore, if the tenant wants to terminate the lease and move out because of the February trustee’s sale, the tenant can furnish ten days notice of the breach to the landlord and, if the landlord does not cure the breach, the tenant can move out. On the other hand, the landlord is entitled to collect rents under the lease agreement until the trustee’s sale occurs or the lender procures a court-appointed receiver. Therefore, if the tenant does not make the rent payments, the landlord is entitled to evict the tenant."
"Anti-Deficiency Statute Protects Borrower Only after Foreclosure
The lender approved the short sale, but as a condition of approval the lender required that the seller sign an unsecured promissory note payable over three years for the short sale difference of $30,000. The short sale transaction closes. The seller is now refusing to make payments under the unsecured $30,000 promissory note because the seller asserts that the anti-deficiency statute prohibits any deficiency after foreclosure. If the anti-deficiency statute does not protect the seller, the seller intends to file bankruptcy. Does the anti-deficiency statute protect the seller from a collection lawsuit by the lender on the $30,000 unsecured promissory note? If not, can the seller discharge in the bankruptcy the $30,000 unsecured promissory note?
Answer: First, the anti-deficiency statute only prohibits a deficiency action against the borrower after the foreclosure of a home and does not apply to short sales. If the seller agreed to make payments under the $30,000 unsecured promissory note, the anti-deficiency statute does not protect the seller. Second, if the seller files bankruptcy, the $30,000 unsecured promissory note will probably be discharged in the bankruptcy proceedings.
Tenant Obligated to Pay Rent Payments during Foreclosure
The tenant is a college student and signed a one-year lease terminating June 30 at the end of the school year. The landlord has not been making the mortgage payments, and the tenant received notice that a foreclosure sale is scheduled in February. The tenant refuses to make any more rent payments to the landlord because the landlord is not making the mortgage payments. The landlord has delivered to the tenant a five-day notice of non-payment of rent and intends to evict the tenant. Can the landlord evict the tenant if the tenant refuses to make the rent payments?
Answer: Yes. The failure of the landlord to make the mortgage payments is probably an “anticipatory breach” of the lease entitling the tenant to terminate the lease and move out. (If the AAR lease was used, the AAR lease, line 206, specifically says that the landlord is in breach if the leased property is “the subject of a trustee’s sale.”) Therefore, if the tenant wants to terminate the lease and move out because of the February trustee’s sale, the tenant can furnish ten days notice of the breach to the landlord and, if the landlord does not cure the breach, the tenant can move out. On the other hand, the landlord is entitled to collect rents under the lease agreement until the trustee’s sale occurs or the lender procures a court-appointed receiver. Therefore, if the tenant does not make the rent payments, the landlord is entitled to evict the tenant."
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