Jude's Real Estate Rumblings

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5 Tips for Selling a Vacant Home

RISMEDIA, April 8, 2008-This spring, as it becomes a popular time for homeowners to begin preparing their homes for sale, Showhomes encourages them to do some essential steps to make sure the most important first step takes place: buyers make the decision to view the home.

"Many people think all they have to do is make sure the inside of their home is clean, but it really goes far beyond that when it comes to making sure your home looks its best so that buyers will take a look," said Thomas Scott, vice president of Operations for Showhomes Franchise Corporation. "That is why we have released five essential tips that can help local residents stay on the right track when preparing their homes for a sale."

Scott reveals five tips for selling a vacant home:

1. Curb Appeal - the better the curb appeal of your home is, the more attractive it is to prospective buyers.

- Trim overgrown bushes, weed beds and add a fresh layer of mulch
- Clean your front door and repaint if needed
- Add a fresh doormat
- Keep grass cut, edged and blown
- Plant some color in the beds to add contrast

2. Cleaning - for most buyers, dirt equals stress and the last thing most buyers want is more stress in their lives.

- Pressure-wash the driveway and sidewalks.
- Clean windows inside and out
- Pressure wash decks and patios

3. Paint - the condition and color of the paint can make a huge difference in how buyers react to your home. Select light neutrals - creamy kakis, pearly grays or soft greens.

4. Replace Worn Carpet - Dirty carpet is unsanitary and nobody will be able to overlook your worn carpet. Replace the top layer with inexpensive neutral colored carpet and you will always recoup the investment.

5. Stage your home - Buyers who look at vacant homes only see floors, walls and ceilings. With nothing else to look at, they focus on flaws. Because of this, vacant houses are very vulnerable to low-ball offers and often sell for 15-20 percent below list price.

http://www.judesandvall.com/

5 comments • Jude Sandvall, ABR, CNE, SFR 720-255-1021 • April 08 2008 11:14AM

APS cafeterias rank third in Colorado

By Boyd Fletcher
The Aurora Sentinel

AURORA | The folks at Zagat might not be doing reviews here anytime soon, but Aurora Public Schools cafeterias are among the top in the state.

The Colorado Department of Education rated 46 district nutrition programs last year, with APS ranking third. On a scale of one through 10, the nutrition services department in APS received a 10.

Linda Dallman, director of nutrition services for APS and 21-year district employee, thanked all of her staff and attributed the distinction to their hard work.

http://www.judesandvall.com/

0 comments • Jude Sandvall, ABR, CNE, SFR 720-255-1021 • April 08 2008 11:09AM

Be a Real Estate Expert…on the Economy

Commentary by Margaret Kelly

RISMEDIA, April 8, 2008-It wasn't that long ago that being experts on local real estate was enough to propel many great agents to the head of the pack. But these days, that simply isn't enough. You also have to understand-and be able to explain-broader economic realities.

In the current buyers' market, you are likely encountering prospective homeowners who won't budge from their spot on the sidelines. The decline in the U.S. homeownership rate to 67.8%, as recorded in the fourth quarter of 2007, represents the largest annual decline ever seen, according to the U.S. Census Bureau. The homeownership rate, which peaked at 69.2% in the second quarter of 2004, has been edging down ever since.

But the desire to own a home is as strong as ever. The problem is that many would-be buyers want to wait until the market hits bottom. They are waiting for the lowest interest rates to intersect with the lowest home prices. Unfortunately, many will wait too long and jump into the game after the market begins to rebound. The reality is that there are bargains out there for buyers right now.

Your job is to convince them of that-which you can do with the right facts. By keeping pace with analysis and statistics for the nation, your region and local market, you can form a realistic strategy for helping buyers understand today's market.

Unlike the early 1980s buyers' market, which was caused primarily by high mortgage rates and crippling unemployment, today's market is the result of several converging events. Marginal economic growth, questionable lending practices, subprime mortgage shenanigans and tight credit have combined to create the market conditions through which you currently navigate.

But people are still buying homes. According to the National Association of Realtors, existing-home sales are projected to reach 5.4 million in 2008 and around 5.6 million in 2009.

To better understand today's potential buyers, you might try finding a homeowner or investor-not a flipper-who purchased a house during the early 1980s. See what his or her perspective is looking back on that choice today, and share that viewpoint with your current buyers.

Explain to your clients the risk of trying to time when prices or interest rates will hit rock bottom. With your understanding of market conditions from a long-term perspective-looking forward and back-you can share pertinent knowledge with hesitant buyers. Take charge of your business and see the results quickly.

http://www.judesandvall.com/

0 comments • Jude Sandvall, ABR, CNE, SFR 720-255-1021 • April 08 2008 11:06AM

As housing falls, short sales becoming common

An article from MSNBC.com, reports that according to a real estate industry survey released last week by Bethesda, Md.-based Inside Mortgage Finance, and Washington, DC-based Campbell Communications, roughly 20% of all U.S. home sales in March were "short sales."  Guy Cecala, publisher of Inside Mortgage Finance said, "Our numbers suggest that 20 percent of completed home sales nationwide are short sales.  The number would be larger if it weren't for the fact that one-third of all attempted short sale deals don't go through."  The IFM/Campbell research also shows two-thirds of short sales are initiated by homeowners and one-third are launched by mortgage lenders as an alternative to foreclosure.  The study indicates the top reason for short sales initiated by homeowners is their inability to make mortgage payments, followed by other factors such as the decrease in value of the property.  Tom Popik, a Campbell Communications research partner who worked on the study said, "The amount of time a lender can take is one of the most important things the consumer needs to know.  Any buyer looking at a short sale property should find out where the seller is in terms of discussions with their lender."  He added that if a buyer is patient, they could get a good deal on a home.
http://www.msnbc.msn.com/id/23997412/
0 comments • Jude Sandvall, ABR, CNE, SFR 720-255-1021 • April 08 2008 11:03AM

Socialized health care -- the DMV of medical care

From Tommy Y at the ColoradoBiz Magazine 

If Canada has such a great system why do some Canadians come here for treatment?

Take a second and think about every interaction that you have with the government and how completely frustrating it is. Spent any time getting your driver's license renewed or new tags for your car at the DMV lately?

When I was in high school I was at the DMV and I saw a guy freak out in the hallway, he came out of this room stopped and screamed "God damn this place. God damn this Place!" The DMV employees that drove this guy insane would be the same people administering a socialized health-care system.

My friend was recently told by the IRS that he didn't pay enough taxes five years ago and that they were going to garnish his wages to make up for the back taxes. They gave him two weeks notice on the garnishment, but it was going to take them eight weeks to get a copy of his old return to him so he could prove they were wrong.

I am not saying that ALL governments are so inefficient that they can't provide better health care to their citizens than the private sector can; I am thinking that -- but I am not going to say it.

I am saying that OUR government is incapable of providing efficient, cost-effective health care to us as a nation and that if you want to see lower costs and extraordinary access to doctors; get the government out of health care and let the free market get back to making things cheaper and better.

Other countries

Proponents of establishing a socialized health-care system in the U.S. always use other countries as their rationale for creating one here.

"I was in France and I was able to just walk into the hospital and get a kidney transplant while I was on vacation." I am sure that it was a Chinese prisoner kidney, and there is some wine-soaked Frenchman who is smoking two packs a day and eating 10 pounds of cheese a week who needed that kidney and was planning on taking some time off from his grueling 20-hour work week to pick that puppy up.

Look at Canada; a lot of Canadians come to upstate New York and Michigan to get their really important medical procedures taken care of. They do that because it is a lot easier to pay for the procedure in the USA where it will be done competently and quickly versus waiting to have it done in Canada, if you are lucky enough to get approved for the procedure.

Think about what a U.S. socialized medical system would do to Canadians that rely on our health-care system to handle their medical needs. I don't want to be dramatic, but every vote for a socialized medicine candidate in the U.S. kills an innocent Canadian. The Great Lakes are going to run red with their blood, and it will be your fault.

Plus if we go to a socialized medical system and Canada keeps their current system; where are we going to go to get the health care that we need, Tijuana? You can't even drink the water in Mexico without getting diarrhea, do you really want to go there for you're your next procedure?

Taxes

The highest federal income tax bracket in the US is 39 percent -- that is the Bill Gates tax rate. The average European and Canadian is paying around 50 percent of their income to taxes.

In the U.S., the median annual income in the 25 percent tax bracket is $54,475 per year. That person is currently paying $13,619 a year in federal income taxes. If that person was paying 50 percent taxes to cover a socialized health-care system, their annual tax bill would be $27,238 per year.

A couple in their early '30s with two children who select Kaiser Permanente as their health care provider can choose a health insurance plan that costs between $271 to $531 a month. The additional 25 percent in taxes to cover the socialized health care system would cost that family an additional $1,135 a month to pay for something that costs a couple of hundred dollars a month in the free market.

Conclusion

I know that our current system isn't perfect, and there are 15 percent of our fellow citizens that don't have health care. We should try to find a solution to help those who truly want coverage but can't afford it.

At the same time, let's agree not to destroy the system that is providing the other 255 million Americans with the most efficient, innovative, and high quality health care in the world. I can't afford to take five days off work to get my next checkup in Mexico.

Check out this website if you are interested in seeing how lucky you are to be an American when it comes to taxes.

0 comments • Jude Sandvall, ABR, CNE, SFR 720-255-1021 • April 08 2008 11:01AM

Looking to Connect with Consumers? Lowe’s Has the Answer

RISMEDIA, March 20, 2008-As a value-added benefit to its Program for REALTORS®, Lowe's is proud to announce that in April it will launch a new, monthly e-mail that will allow Realtors to keep in touch with their clients. This customizable e-mail is exclusively available only to Lowe's Program for REALTORS® members.The monthly e-mail-Lowe's Homeowner's Handbook-offers Realtors the ability to automatically send clients helpful information about moving in, settling in and tips about the home.

Realtors will also have the ability to send clients a bi-annual $10 off $50 project starter via the e-mail. What's more, the Homeowner's Handbook will include direct links to the Realtor's website and profile, as well as the ability to contact their Realtor directly via e-mail.

2 comments • Jude Sandvall, ABR, CNE, SFR 720-255-1021 • April 07 2008 10:16AM

TAKING AN INTEREST IN YOUR CREDIT CARD RATE...

From The Mortgage Market Guide, credit cards are one of the most pervasive forms of your financial picture. On a daily basis, they provide the flexibility and freedom to reserve a hotel room, travel without carrying cash, and purchase just about anything at anytime.

As such, your credit cards can have a major impact on your financial wellbeing and even your credit score. But did you know that your credit score can also impact your credit cards...specifically your interest rates? Although some companies have abandoned the practice, many won't hesitate to raise your interest rate if your credit score declines - even if you are paying them on time! By following these tips, you can help avoid inflated interest rates on your credit cards...and perhaps even enjoy more trips to the ballpark:

Understand the terms. The best way to protect yourself from high interest rates and hikes is to read and understand your credit cards policy terms. Pay particular attention to the interest rate, how long that rate is in effect, and what actions can lead to a hike - such as a late payment on your card, a declining credit score, or even a late payment on a completely unrelated bill.

Don't be late. Making a late payment can lead to increased interest rates on all your cards. In addition, they can lower your credit score, causing you even more problems down the road. So make a schedule and always pay on time.

Watch the mail. We all get junk mail, but some of it may not be junk after all. Whenever you receive any information in the mail from your credit card, read it carefully in case any policies or interest rates are changing.

Make a call. If your rate does change, call the company. If you've made your payments on time consistently, you may be able to get your original rate restored. If the company seems hesitant, you may want to threaten to transfer your balances to another card - customers in good standing may find they have more bargaining power than they realize. And don't just threaten to make a change...actually do it if it makes sense. You may find the grass actually is greener on the other side.

Be careful what you close. Closing a card that has a current balance will likely send your interest rate soaring. In addition, closing your oldest credit cards can have a negative impact on your overall credit score. So make sure you check and double check which cards are best to close.

0 comments • Jude Sandvall, ABR, CNE, SFR 720-255-1021 • April 07 2008 10:14AM

Slump might mean it's school time

An article from The Denver Post, reports that according to Alexandra Hall, chief economist for the Colorado Department of Labor and Employment, making the decision to focus on education during tough economic times can make sense.  Mark Levine, chair of the University of Denver's Burns School of Real Estate and Construction Management, said getting an advanced degree in real estate fields can be beneficial, but sometimes in less tangible ways than a higher paycheck.  "You need to do something to reinvent yourself.  In order to be sharp and current in our industry, you've got to be on your game," said Iris Foster, chief operating officer of real estate firm Dutton Commercial and an adjunct DU professor.  President of the Colorado Association of Mortgage Brokers, Doug Braden, said mortgage brokers are also expanding their services to stay competitive.  Some drywallers, finishers, plumbers and electricians are shifting their focus from the struggling single-family-home market to the healthier multifamily sector.
http://www.denverpost.com/business/ci_8818173
10 comments • Jude Sandvall, ABR, CNE, SFR 720-255-1021 • April 07 2008 10:10AM

The Voice of Aurora: Complete the widening of I-225 with FasTracks work

From the Aurora Sentinel, Colorado is like any other government, a massive bureaucracy slow to turn once momentum has begun. Still, the state has long shown a penchant for rising to the call and exhibiting a pluckiness indicative of life in the West.

It is those attributes that have made it illegal to slander broccoli, an effort to protect the farmers in the state, and to lead the nation in requiring an open and accessible government. In Colorado, when the chips are down, its residents and leaders are not.

That's the attitude needed to keep the state from wasting millions of increasingly rare taxpayer dollars in how and when it builds new light rail tracks along the Interstate 225 corridor and eventually widen that highway.

Currently, the Regional Transportation District and the Colorado Department of Transportation are looking at how RTD will expand light rail from Parker Road at I-225 north to near I-70. The expansion is part of the heavily-funded FasTracks program adopted by voters about four years ago.

Both RTD engineers and their counterparts from the state agree that it would be cheaper, more convenient and easier for I-225 to be widened to six lanes at the same time light rail is built in the median. There's no doubt that the vastly overused highway is in need of widening. State officials have planned for and promised the widening for decades, always agreeing instead that there were more pressing needs elsewhere in the state. And that's happened again.

RTD is now trying to create a plan to install light rail in advance of the widening, losing out on a host of economic and practical benefits of building the entire system out, similar to how it was done on the T-REX project.

Someone needs to intervene because this makes no sense. The widening of I-225 has been "on the books" for almost as many years as the highway has been paved. It's been on the "go list" for decades, waiting only for funding. In the meantime, countless other metro area projects have moved ahead.

A state as remarkable as Colorado doesn't have to see its transportation department implement this much waste. Someone needs to find a way to do what it takes to find the funding now to complete the widening of I-225 from essentially East Alameda Avenue to Parker Road.

Aurora has long been a good soldier for the past few decades, paying for its own interchange while other metro-area communities didn't have to, and waiting and waiting for its turn while helping pay for others that always seemed to move ahead. It's time to reward Aurora for that patience and reward all state taxpayers with a prudent plan.
1 comment • Jude Sandvall, ABR, CNE, SFR 720-255-1021 • April 07 2008 10:08AM

Don't Wait: Create

An article from RealtyTimes.com, reports that in today's marketplace, with changing inventory levels, more cautious buyers, and rising interest rates, you just can't wait for business and success to come to you.  You must proactively create business and make success come to you.  Focus on getting face-to-face with all prospects, even if they are six months out.  The face-to-face meeting is the best way to determine if the lead is outstanding.  It's also something that most other agents your prospects are talking to are not doing.  This will also help you to determine desire, need, ability, and authority.
http://realtytimes.com/rtpages/20080407_dontwait.htm
1 comment • Jude Sandvall, ABR, CNE, SFR 720-255-1021 • April 07 2008 10:00AM