Realtor Diane Bell's Hilton Head and Bluffton Real Estate Blog

head_left_image

WILL HILTON HEAD RESIDENTS APPROVE THIS YEAR'S LAND BUYING REFERENDUM?

For those who have visited our beautiful island of Hilton Head, I'm sure you couldn't help but notice how much open green space we have.  Many years ago, I just viewed it as land waiting to be developed but was I ever wrong!  The town has methodically been buying up vacant pieces of land for preservation through land buying bonds. 

This year's election will once again, ask the voters to approve a referendum that would issue up to $17 million in bonds to use for open space, parks,  or public space

Considering ths measure would increase local taxes by $8 for every $200,000 of assessed value on an owner-occupied home, it sure seems like a no-brainer to me.  I would gladly pay a bit extra each year to avoid future development on this island.  Still, town officials expect it to be a larger challenge this year, given the current economic conditions.

Since the early 1990's, the town has purchased over 1700 acres.  Incredible?  Yes!  If you ask me, I say the residents will still overwhelmingly approve this.  The last measure was approved by 77% of residents.  Wouldn't our political candidates just love that percentage!!!

How to save your house from forclosure!

Via Elizabeth & Justin Thayer:

Short sale! This is where the bank forgives a portion on the loan in for a lump sum payment from the sale of a house. Over the last 6 months I have seen the short sale get easier as banks and REO company's are getting loaded down with the amount of  defaults.  I have been able to get rid of all other types of other liens along with the home loan including lawyer fee's. It seems everyone is understanding the problem and moving faster to cut their losses. I have been able to get banks to take as little as 10% on what is owed to them. I have given a brief outline of my process in the steps below.

1. Order and fill out the banks short sale packet right away. Do not wait until you have an offer.

2. Contact the banks asset manager for that home right away and let them know you are going to get them as much money as possible but due to the market it will probably be short. If their is a first and second contact them both. You usually just need to negotiate with the second if their are two liens but if the house value is worth under the first as well this is OK. You will need to negotiate with them both equally.

 3. Advertise your situation. Add the wording pre-forclosure and /or short sale to  all of your advertising including directionals and yard signs. This will spark more interest and more chances at higher offers.

4.  Price the property at what is owed for 1 week then lower the price every 2 weeks until you are in a range you know will get offers or you get an offer. You will be able to use the MLS history as proof you tried to market the property at higher prices.

5.  The closer you are to the sheriff sale date the more aggressive you should drop the price. I usually drop $10-$20k every two weeks until an offer comes in, and it always does.

6 All of the seller financials should be already turned in however the  REO company or bank  will want new bank statements and pay stubs if it has been 3 months so turn them in before they have to ask. Turn in the following with your offer.

A. Your own CMA

B. A letter in your own words explaining the current area market condition.

C. The listing history from the MLS proving you tried to get more out of the property.

D. Current bank statements and pay stubs go three months back to cover you bases.

E. A letter from the seller detailing the severity of their current financial crisis.

F. You own photos and description of the property including any problems that prevented any sales at a higher price. ( Do not try and beat up the property but explain any showings or past offers that may have been retracted by poor conditions or needed repairs) The key here is to let the asset manager know that you are trying to get as much money as possible for the property. 

 

7. Remove the lockbox to prevent any other Realtor from doing a BPO without you input. When the REO company sends out the Realtor to do the BPO meet them at the property and provide your own comps. to them to make sure your values match up .   

 8.  Now you just have to work it out with the asset manager. If you have done the previous steps correctly you should be able to get the asset manager to guide you to a deal that works for everyone. The offers have to close to actual value if you expect to close. They can still be a great deal for the seller but  need to be realistic. Reject ridicules offers right away and turn them in to the asset manager. It's going to be up to you to figure out what is aggressive vs ridicules but can make all the difference in how the asset manager works with you. 

 

If you need Short sale  help in Lane county Oregon or just have questions please call Justin Thayer @ 541-543-7287

For additional information on short sales go to www.teamthayer.com

REO Properties Are Now Rentals?

Via Shawn Collins Property Manager in Elk Grove, Natomas, Greenhaven, Sac, Land Pk:

My primary areas of Managing Investment Properties have been Natomas, Land Park, Greenhaven, Pocket, Sacramento and Elk Grove.

Gone are the days the banks and lenders only buy and sell property.   Rentals are the only other option.

We all know that the lack of available credit, loss in value and overall economic conditions have taken the Real Estate world and turned it upside down.  I guess it was only a matter of time before banks would enter the property management business!   Yes banks/lenders calling on property management services for their extensive inventory.  What does this mean?

Even investors whom have recently purchased budles of debt or lenders have found a brighter side in holding the properties for income now with the intention to sell in 1-5yrs for a much improved asking price.

Well I know one thing, the more REOs that turn into rentals, the more saturated the rental market will be.  So far in the last month, I have noticed a significant increase of rental home inventory throughout the area.  Rental values have not maintained themselves or increased in months.  This is all pointing to further value losses at least through spring. 

Now it the time to be smart.  It takes experience to navigate a rental market such as this and to know what to do and when to act.  Seek professional advice from a skilled and knowledgeable Property Manager.

Please feel free to comment or share your experience.

Make the Most of Each Day!

Via Brigita McKelvie - Lehigh Valley, PA, Residential, Rural & Horse Properties:

 

Last week I wrote a post titled "In A Rush?  Slow Down or You May Pay For It!"  In light of this post,I thought this would be a good follow up.  Read it carefully and see if you are able to identify yourself.

 

Too many people put off something that brings them joy just because they haven't thought about it, don't have it on their schedule, didn't know it was coming or are too rigid to depart from their routine.

 

I got to thinking one day about all those women on the Titanic who passed up dessert at dinner that fateful night in an effort to cut back.  From then on, I've tried to be a little more flexible.

 

How many women out there will eat at home because their husband didn't suggest going out to dinner until after something had been thawed?  Does the word "refrigeration" mean nothing to you?

 

How often have your kids dropped in to talk and sat in silence while you watched 'Jeopardy' on television?

 

I cannot count the times I called a relative and said, "How about going to lunch in a half hour?" She would gasp and stammer, "I can't.  I have clothes on the line.  My hair is dirty.  I wish I had known yesterday, I had a late breakfast.  It looks like rain."  And my personal favorite:  "It's Monday."  She died a few years ago.  We never did have lunch together.

 

Because Americans cram so much into their lives, we tend to schedule our headaches.  We live on a sparse diet of promises we make to ourselves when all the conditions are perfect! 

 

We'll go back and visit the grandparents when we get Stevie toilet-trained.  We'll entertain when we replace the living-room carpet.  We'll go on a second honeymoon when we get two more kids out of college.

 

Life has a way of accelerating as we get older.  The days get shorter, and the list of promises to ourselves gets longer.  One morning, we awaken, and all we have to show for our lives is a litany of "I'm going to,"  "I plan on," and "Someday, when things are settled down a bit."

 

When anyone calls my 'seize the moment' friend, she is open to adventure and available for trips.  She keeps an open mind on new ideas.  Her enthusiasm for life is contagious.  You talk with her for five minutes, and you're ready to trade your bad feet for a pair of Roller blades and skip an elevator for a bungee cord.

 

My lips have not touched ice cream in for a long time.  I love ice cream.  It's just that I might as well apply it directly to my stomach with a spatula and eliminate the digestive process.  The other day, I stopped the car and bought a triple-decker.  If my car had hit an iceberg on the way home, I would have died happy.

 

Now. . . go on and have a nice day.  Do something you WANT to. . . . . . not something on your SHOULD DO list.

 

If you were going to die soon and had only one phone call you could make, who would you call and what would you say?  And why are you waiting?

 

Have you ever watched kids playing on a merry go round or listened to the rain lapping on the ground? Ever followed a butterfly's erratic flight or gazed at the sun into the fading night?

 

Do you run through each day on the fly?  When you ask "How are you?"  Do you hear the reply?

 

When the day is done, do you lie in your bed with the next hundred chores running through your head?

 

Ever told your child, "We'll do it tomorrow."  And in your haste, not see his sorrow?

 

Ever lost touch?  Let a good friendship die?  Just call to say "Hi"?  When you worry and hurry through your day, it is like an unopened gift. . . .   Thrown away. . .  Life is not a race.  Take it slower.  Hear the music before the song is over.

 

Life is short.  Enjoy it and make the best of it.

 

 

Pillow Talk: The artful placement of pillows vol II. piling practicum

Via Kimo Stowell:

Pillow talk: The artful placement of pillows...

don't go overboard or over the Head board when piling pillows on the bed

Arranging pillows on a sofa or bed is a fairly mundane activity that in itself does not necessarily require instruction. However, if your home is on the market and your looking to give your property it's best face possible, here are some simple pointers to give your pillowed furniture practical pizazz.  

Less is more, more or less: regardless of how passionate you are for pillows, the old adage that less is more applies when it comes to staging the bedroom. The best approach to pillow placement is not to cover more than a quarter of the bed with pillows and to layer them no more than four deep and five across. Ideally, you should keep the pillow count under ten for King and Queen beds and less than six pillows on full and twin sized beds including sleeping pillows. Now day beds and pune'e (Hawaiian day beds) naturally require more pillows in order to supply adequate back support when seated so you have a little more leeway here in the pillow count but remember less is more.  

"...What immortal hand or eye, could frame thy fearful symmetry?" -William Blake: Of course, Blake was talking about a tiger when he wrote this poem but it applies to pillow placement too. Be fearful of over doing symmetrical patterning when it comes to the context of the room. Too much of 'two of everthing' can make a room predictable and boring. Most designers will tell you to use an odd number of pillows on beds and sofas and for the most part I agree but if you are using asymmetrical patterning else where in the room than it's OK and sometimes advisable to pair pillows up. 

 

 

 

Size matters and variety is good thing: avoid using just small pillows on a big bed and vice versa. Proportionality is important and using different sizes, shapes, colors and textures helps to make the bed a focal point in the room.










Seven & Three

When it comes to sofas you want to be able to sit comfortably without having to move pillows around to do so. Keeping pillows closer to the arm rests makes this a little easier. On a standard size sofa try to keep the pillow count under 7 and with love seats 3 or less.

Bold & Bright

When you want to give a little more contemporary feel to transitional furniture use bright colors and bold patterns. Floral patterns are usually a traditional standard but there are many modern floral prints available today that can give a modern flare to your transitional decor.

Balance & Weight

A little color goes a long way. Adding a touch of color can give balance to a sofa. In the example below the detail of the face pillow pulls the eye to the right while the blue draws the eye to the opposite end giving equal visual weight to both sides of the sofa.

Variations on a Theme

Pillow themes can really pile on the charm factor when staging but beware of being too kitsch. Below is a ocean theme using bright red contrast, textured fabrics intimating coral, and a blue crab to define the theme. Of course this looks great in a beach house not so great in a log cabin in the mountains.

 

Mirth & Whimsy

Everyone can use a little laugh these days. Using whimsy to entertain potential buyers can lighten the mood of a space and create a sense of fun and interest. Unusual pillow shapes like the penguins and felt "stones" can instantly transport your imagination to another place, which is not really the purpose of staging so temper your sense of humor and keep the avant garde for your new home.

The penguins and felt stones are a couple examples of my favorite pillows. Although, I wouldn't necessarily stage with them I would definitely use them as an interior decorator. I invite you to post your favorite pillows and share how they make you feel. So lets continue the pillow talk...

 Pillow Talk: the artful placement of pillows vol I. beyond the fringe

 

 

Visit us at www.RealEstateDesignOnLine.com

Designs and pillow arrangement by Kimo Stowell Copyright ©2008

NEWEST BLUFFTON SCANDAL---BLUFFTON TODAY WILL START CHARGING 25 CENTS!

Oh my, there is a new scandal in Bluffton---well for that matter, it's in Hilton Head too!  The Bluffton Today Newspaper is the new kid on the block as far as newspapers go.  I think it came into existence just a few years ago and has been a huge resounding success!   Here's the scandal------NO LONGER WILL THIS NEWSPAPER BE FREE---THEY'RE NOW GOING TO CHARGE .25 A COPY AND WHAT A NERVE THAT HAS TOUCHED! 

Daily, the Bluffton Today features a section called THE VOX.  Readers can call into the newspaper and voice their opnions on just about anything as long as it isn't scandalous or libelous.  The Vox has become the most popular area of the newspaper.  I personally, find it hilarous to  read everyday-----wouldn't miss it for anything. 

 A couple of weeks ago, someone from Sun City called in to complain that Vultures were "loitering" by one of the entrance lagoons.  Seems this resident didn't like Vulture birds.  People will call in looking for hairdressers and landscapers.....I really wish our Hilton Head Island Newspaper, the Island Packet would consider adding a Vox section or similar to their paper. 

So considering that folks will now have to pay TWENTY FIVE CENTS  for their daily fix, I wonder if the Vox will be overwhelemed with new comments from readers?  I, for one, think this is a given.  Stay tuned------

FOR INFORMATION ABOUT HILTON HEAD AND BLUFFTON REAL ESTATE, PLEASE VISIT MY WEBSITE.  I WELCOME YOUR INQUIRES, QUESTIONS AND REFERRALS ANYTIME.

EarthMoment - Shop and get Carbon Offsets

Via Deb Hurt, ABR, e-Pro, EcoBroker, TRC:

Carbon offsets represent investments that reduce carbon dioxide emissions. Carbon offsets typically include investments in renewable energy, energy efficiency and reforestation projects. They are one way to begin to make a difference in influencing climate change. Personally, I am not a huge fan of this approach but it definitely beats doing nothing and it provides funding for efforts to do more.

That said, many of us do a fair amount of online shopping. http://EarthMoment.comoffers an opportunity to get carbon offsets when making purchases from more than 1.000 online vendors including Target, Sears, Macy's, PetSmart and Barnes and Noble. You pay no additional fees for your purchases nor are the prices higher. EarthMoment.com is an online shopping portal that make a donation of 50% of its commission for every purchase to purchase carbon offsets. Those of you with websites know that your get revenue for sales made through your website and this works exactly the same way. Other vendors available on the site in addition to the ones I have already mentioned include Home Depot, Amazon.com,Travelocity, AT&T, Circuit City and Dell,

You create a profile when you use the site just like other shopping sites. When you create your profile at EarthMoment you choose to what carbon offset project(s) you want to allocate your proceeds; renewable energy, energy efficiency, reforestation or any combination of the three. The experts at carbonfund.orgpick the specific projects within those categories, and you can read about those projects online at Carbonfund.org.

Carbonfund.org is a nonprofit organization committed to the fight against climate change, making it easy and affordable to eliminate climate impact and hastening the transformation to a clean energy and technology future. The organization supports renewable energy, energy efficiency and reforestation projects globally that reduce carbon dioxide emissions and the threat of climate change.

This can be a great resource for holiday shopping or closing gifts.

 

How to Feed Your ActiveRain Blog Directly to Facebook and Twitter - Get More Exposure for the Same Effort!

Via Jason Crouch, Broker - Austin Texas Real Estate:

I have been out of town for several days, having attended the RE Barcamp in Houston.  Before I left, I wrote a post about leads that I have garnered from AR along with other social media sites:

How I Managed to Receive Leads from ActiveRain, Twitter and Facebook!

I told my wife jokingly that I need to travel more often, since that post gained me an additional 53 subscribers!  I might need to go to Houston every month.  :)

At any rate, I promised the comments to write a post about how to automatically feed your AR blog to Facebook.  I also later received several emails and phone calls about this. I will do my best to make this easy to follow:

First, log in to Facebook.

Then, go straight to this page: http://www.facebook.com/apps/

In the search box on the Application Directory page, type in "blogcast".  It should bring up this application:

Add the Simplaris Blogcast application and set it up to capture your ActiveRain RSS feed.  Your feed for ActiveRain is easy - mine is http://activerain.com/blogs/jasoncrouch/rss (all of them here follow the same format.

Your Blogcast will show up under your Profile page and each update appears on your Wall.

There is another application there called "My Blogs" that you could use if you prefer.  Both Simplaris Blogcast and My Blogs serve pretty much the same function, the best that I can tell.

 

TWITTER

I also had some folks ask me how to get your posts to show up on your Twitter stream.  This is very easy to set up now, since the AR staff was kind enough to add this feature awhile back. 

 

 

 

Simply go to your "My Home" page on AR (this is found at the top right of every page):

Then, click on "My Settings":

You will then see this box:

 

Just fill in your Twitter Username and Password and make sure you click on the Update button to save your settings.  I wouldn't recommend tweeting your "members only" posts, but that's just me.

Please let me know if you have any questions.  I am happy to help!

You can follow me on Twitter at http://twitter.com/jasoncrouch

       

At It AGAIN!

Via Debe Maxwell:
At it Again! Homeownership--What it Once Was...

The REAL ScoopSHOCK!  The media is at it again!  Today's front page real estate section boasts that 'Homebuyers face new scrutiny when securing loans.'  Okay, my dander is up AGAIN!

The article, in a nutshell, is playing on the reader's fears that homebuying is not what it once was.  Here are the main points along with, of course, my counter-points:


Buyer Awareness
1.  You can no longer secure a 100% mortgage loan.
 Yes, I had investors who did this but, this article is that it is focused on the homebuyer seeking a primary residence.  I am forever ragged about the homebuyer advice that I give my clients--I am old-school and believe that you should put 20% down on your home.  I know that's not always possible and I don't require that my clients do this but, I do recommend this.  The 100% mortgage loans are what got us into this mess to begin with!



2.  More money is needed at Closing.
 
Isn't homebuying an investment?  Why wouldn't you put money into an 'investment'?  When we invest in the stock market, don't we put money into our favorite stocks in order to watch (hopefully!) them grow?  With homes, growth is appreciation that I think requires, at least some, form of monetary investment.


3.  Proof of income is required.
 
Remind me--why should we EVER have been allowed to secure a mortgage without this?


4.  The Federal Government can assist you.
 
Once again, are we that desperate to get folks into a mortgage?  There are some programs out there that allow a buyer to pay back this government assistance and I do agree that there are exceptions but, once again, isn't that what got us into this mess to begin with?  The government insisting that every red-blooded American be a homeowner, whether they were qualified or not?

No Exotic Loans
5.  A good FICO score is important.
 
No DUH!  The problem has been that too many Americans don't think that it's important to keep up with your score and be certain that it is in good standing at all times.  What is so wrong with this requirement?


6.  Stay away from exotic loans.
 
Lastly, and please forgive me for repeating myself too much here but, isn't that one of the things that got us into this nationwide mess to start with?


The American Dream

What is so wrong with going 'back to the basics?'
 Isn't homeownership the 'American Dream?'  Daily, I focus on my dream of retirement and daily, I review what needs to be done in order to achieve that goal/dream.  When I was first thinking of buying a home, I saved and saved and saved so that I could buy my 'dream home.'  Granted, it wasn't the same 'dream home' that I focus on today but, it was my dream and my goal that I worked tirelessly to achieve. When I did finally achieve my goal, I thought my heart was just going to burst with pride!  The same with my first car and every one thereafter. Same with any purchase--we work hard, stay focused and achieve our goals.  It really is quite satisfying!




Back to BasicsWhy have we changed to become a nation that is not held accountable for anything?  If you have a buyer who can't put down the required funds to purchase a home, whose credit score is not what it should be and who has other debt that needs to be taken care of BEFORE buying a home, why not set them up with financial counseling?  Not only is this action an investment in their future, but yours as well--they're going to remember that you helped them and you're going to check in with them on a regular basis during this time of 'credit repair,' and when they're ready, you're going to be there to sell them their dream home!

And, if you have buyers who ARE ready, that has been 'scared away' by the negativity in the media, explain the reality to them!  There's simply nothing wrong with going back to the basics that our parents and grandparents taught us!  This is a POSITIVE action!  Let's be advocates of making homeownership what it once was.   What's wrong with 'what it once was'?

Debe in Charlotte


About the author:

Quality Service CertifiedDebe Maxwell is a Charlotte Residential Real Estate Broker, Certified Neighborhoor & Relocation Specialist, ABR & e-PRO who can assist you with the purchase and/or sale of real estate in the Charlotte NC Metro Area.  If you're relocating to or from any other area of the country, Debe connects you with any member of her team of relocation professionals in your destination or exit city of choice.  The destination service is of no cost to you!  The Maxwell House Group's quality service guarantee puts this team far ahead of the competition; providing unsurpassed customer service is their #1 priority!  Debe Maxwell -- Helen Adams Realty -- 704.491.3310
Copyright© 2008 By Debe Maxwell, All Rights Reserved...**At It Again!**


Disclaimer:  All information provided by this author is strictly an opinion, is not guaranteed, may be based on information collected from several sources, which may or may not be deemed reliable at the time of researching this article and may be time sensitive.


Shop for YOUR Charlotte home HERE!Let's go shopping for Charlotte NC homes for sale!

Forsclosure Mess..Thinking Outside The Box

Via Alan Brown:

Seeing as the bailout really isn't going to help those people being foreclosed on maybe it is time the mortgage companies/banks came up with a plan to help their mortgagees.

Instead of foreclosing why not lower the principal amount owed which in turn lowering the payment to the new principal amount, maybe the interest rate is lowered or maybe it stays at the orginal amount. Do this without going through a refinance which eliminates all the closing fees.

An example: A house has a begining mortgage of $300,000 less than 5 years ago today the house is only worth $250,000. Of course an appraisal would have to be done in order to establish todays value. once established, lower the principal to $250,000 use a one page rider to the exsisting deed of trust stating the new terms and of course record it for future reference.

I know there would have to be some limits and caps on it and you could only do it once. Surely this would save a lot of homeowners from being thrown out of their homes. It would surely in the long run be cheaper for the banks/mortgage companies. No vacant houses with maintenance, attorney fees, holding costs and the time involved in foreclosing and them putting it up for sale and waiting for a new buyer.

Is there no inovation left in this country or do we want to sit around with our hands out waiting for the government to step in.

www.MontroseHomeConnection.com