"What Type of People Live There???"

I received a call from a lead who was interested in seeing a property she found online.  Upon qualifying her, I asked if she was also interested in a few other areas.  Her next question surprised me, since I've never been asked this type of question before. She asked, "What kind of people live in those area's?"  

The reason I was so surprised is because in this day and age, I would never think someone would ask that sort of question.  So to be sure I completely understood the question, I asked "What do you mean?"  She said "I mean what type of people live there, you know like Whites, Blacks, Indians?"  Depending on how long you've been a licensed Realtor, you've gone through the Fair Housing classes several times so you know this question violates Fair Housing Laws.  My answer was, "There are all kinds of people that live there but if that is important for you to know, you should do your own research!"  Needless to say, I never heard back from her person again. 

Many people have a list of criteria they are seeking when purchasing a house.  Most people want to know the crime rate, how good the schools are and if the neighbors are nice.  Some people like to live in a diverse cultural neighborhood and other don't.  Whatever your preference is, as Realtor's we cannot converse with our clients about the "type of people" that live in the neighborhood.  It is the responsibility of the client to determine the crime rate of an area, school rankings and who the neighbors are. 

If my clients are interested in a particular house and are unsure of the neighborhood, I usually recommend they visit the house at different times of the day and park their car to get a feel for the neighborhood.  Buying a house is a big investment, so you want to make sure it has all of the attributes you are interested in within reason!  If someone wants to live in a specific area, they need to provide zip codes, street names and/or a radius of the area they would like to received listings.  As long as the Realtor is not steering a client to a specific neighborhood, no one is breaking Fair Housing Laws.  Happy House Hunting!

Tabitha Richardson
Broker/REALTOR®

443.415.4215 cell  
443.320.9099 efax
410.363.1535 x101 office  
410.363.1536 fax

Email Me Now
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April Showers Brings May Flowers and More Buyers!

If your home has been sitting on the market over the last few months collecting dust, fear not, more buyers are on their way!

Historically in most real estate markets, the Springs heads up the market rush for prospective home buyers.  As a home Seller, this should be a exciting time for you.  Your home will see increased foot traffic, higher prices and potential bidding wars.  But with the good always comes the not so good.  Although there will be more buyers, there is also more competition.  More inventory for Buyers to chose from means, you'll need your home to show well when Buyers schedule a visit. 

PREPARING YOUR HOME TO LIST

You can first start indoors to determine area of your home that can use attention.  Consider painting your home a warm neutral color, de-clutter area's of your home that have become the place to store stuff, and clean everything!  Get your carpets steam cleaned, hardwood floors waxed, clean the outside of your cabinets and appliances, re-grout tiles in the kitchen and bathroom and open a few windows to air out your home.

You also want to check the curb appeal of your home.  Many Buyers begin their search online and will drive by houses before having their Realtor schedule an appointment.  If the curb appeal isn't attractive, you may lose a potential buyer.  Make sure the grass and shrubs are well manicured, pressure wash the siding and wash the windows.  If you have a fence that looks like it's on it last limb, you may want to consider having it repaired.  Be better your home looks, the less the Buyer feels they need to do after moving in and that will mean the closer offers will be to your asking price. 

FIND A REALTOR

Make sure you begin interviewing Realtors as early as possible.  You want to get the feedback from your Realtor and have enough time to work on improvements prior to listing your home. Make sure to be open and honest about your intentions so your Realtor knows how to best service you and your needs.  

People sell their homes for many different reasons, if you are selling your home because you would like to move into a larger/smaller home you'll also need to contact a lender to get pre-qualified for the new home.  This should be done prior to listing your house on the market.  You want to make sure you are able to qualify for another mortgage, understand the out of pocket expenses and make sure your credit is in good shape.  Your Realtor usually has lenders they've worked with and should be able to recommend a good lender based on your needs. 

For more information on preparing your home for listing it this Spring/Summer, call a Premier Homes Realty Agent you can trust!

Tabitha Richardson
Broker/REALTOR®

443.415.4215 cell  
443.320.9099 efax
410.363.1535 x101 office  
410.363.1536 fax
Email Me Now
Go to My Website

ARE "NOSEY NEIGHBORS" REALLY TRYING TO HELP?

ARE "NOSEY NEIGHBORS" REALLY TRYING TO HELP?

While showing houses this weekend, my client she absolutely loved the last house we saw and she was considering submitting an offer.  Upon exiting the house and locking up the keys in the lockbox, the "nosey neighbor" decides to do some exterior house cleaning.  As we were leaving, the "nosey neighbor" decides to give my client a little advice.

The neighbor told my client she should not buy the house and gave 100 reasons why. He also said the house is subject to flooding and there is a stream that runs under the property and it causes the basement to flood and the backyard to pool with water.  As a prospective homebuyer and a Realtor, this is the absolute WORSE news you can hear about the house you're thinking of buying.  The house my client was looking at was a new constructed home and the builder graded the house so it sits higher than the other homes near it.  

The "nosey neighbor" went on to say that that he had to have a second sump pump installed in his home because he had 6 feet of water in his basement.  Of course this news was very alarming and scary to my client.  The neighbor kept going on and on until we nicely said thank you and decided to do a second walk through of the house.

When we went back into the home, my client felt strange about the conversation.  She said, "I can't decide if the neighbor was racist and just doesn't want a black woman moving next door or if he is genuinely trying to help me!"  It's sad that racism is still prevalent in 2015, but unfortunately when you are a minority it is a thought that crosses your mind.  

In my experience when the "nosey neighbor" starts messing around in their yard while you're showing a house, it usually isn't followed by good news.  There have been times when the neighbors have been a lifesaver in providing history on a home especially when it is a foreclosure, but that is not always the case. 

In this situation, I suggested we contact the Listing Agent and Builder and find out if a French Drain had been installed and were they aware of the stream flowing under the home.  We asked what type of drainage system was installed and questions about the sump pump.  The builder offered to meet with my client and I to walk through the house to address any concerns...Hopefully the Builder will be able to satisfy any questions my client has, but if not we will be moving on to another house...  The "nosey neighbor" may get the results they were looking for after all...  To Be Continued...

Tabitha Richardson
Broker/REALTOR®

443.415.4215 cell  
443.320.9099 efax
410.363.1535 x101 office  
410.363.1536 fax

Email Me Now
Go to My Website

ARE YOU FACING FORECLOSURE ON YOUR HOME???

ARE YOU FACING FORECLOSURE?

You've tried to modify your loan with your bank and they are not willing to play ball.  You have a large past due balance which you cannot afford to pay in order to bring your mortgage current.  So now what?  The next step, if you do nothing, is the bank will foreclose on your property and you eventually will be evicted from the home.

WHAT IS A FORECLOSURE?

A foreclosure is when your mortgage company takes back a property because the homeowner failed to make the agreed mortgage payments on the home.  When you finance a house, you sign a deed of trust.  A Deed of Trust is formed when a borrower borrows money to purchase a house, in exchange a promissory note is signed (IOU).  If the borrower defaults on the loan, the bank has the right to seize the property.

The bank will first file a Notice of Default at the County Recorder's Office and the homeowner will also be notified.  If the loan is not brought current, then a sale date will be established.  The homeowner will receive a Notice of Sale when/where their house will be sold at auction.  The sale of the home will also be advertised in the newspaper, websites, etc.

At the auction, the house typically is sold to the highest bidder.  However, if the opening bid (minimum amount the bank will accept for the sale of the house) is not met, then the house will revert to the bank and become a bank owned property (REO).  

If you know you may be faced with a foreclosure, there are other options available to the homeowner. The homeowner can do a deed in lieu of foreclosure.  A Deed in Lieu of Foreclosure is when the homeowner voluntarily gives the property back to the mortgage company.  The mortgage liability will be released from the homeowner.  The mortgage company will entertain this option when a short sale is not a viable option.

WHAT IS A SHORT SALE?

A Short Sale is when you sell your house for less than the amount owed.  For example, if you owe $200,000 on your house but the current market value of your home is only $150,000.  In this situation, you can list your house for sale with a Realtor as a short sale.  Once you receive an offer to purchase on your house, you will need to get third party approval from your mortgage company.  The mortgage company has to approve the sale price of your home in order to sell it for less than what the homeowner owes.  The mortgage company will conduct their own due diligence to determine the value of the house.  Once they've determined a value, they will either accept, decline or counter the offer that was submitted.  

Once your home is sold as a short sale, a deficiency balance is created.  The deficiency balance is the difference between the amount you owed and the amount the house sold for.  The  Mortgage Debt Forgiveness Act was extended to the end of 2014 which relieved homeowners from the responsibility of the deficiency balance from a short sale through 2014.  Hopefully this Act will be extended in 2015 to continue to help homeowners.

For more information or to discuss your individual situation, contact Premier Homes Realty (a real estate company you can trust!)

Tabitha Richardson
Broker/REALTOR®

443.415.4215 cell  
443.320.9099 efax
410.363.1535 x101 office  
410.363.1536 fax
 

Email Me Now
Go to My Website