Tag Archives: Daily Real Estate News

Tips to Help Owners Spot Foreclosure Scams

According to an article by the REALTOR Daily Real Estate News, “Last year, the U.S. Federal Trade Commission identified 71 companies running suspicious foreclosure rescue ads. This year, the Better Business Bureau named foreclosure rescue rip-offs among its top 10 scams.

Here are just two common scams identified in the September “Foreclosure Resource Guide” now available at the REALTOR® Content Resource:

1. A representative of a so-called foreclosure rescue company promises to negotiate a deal with your lender, instructing you not to contact your lender, lawyer, or credit counselor during the supposed negotiations. Once you pay an up-front fee or a few months of mortgage payments, the scam artist will disappear.

2. A scam artist promises to fend off foreclosure in exchange for an up-front fee. Instead of getting you legitimate relief, the fraudster will pocket the fee and secretly file a bankruptcy case in your name.

Losing your home is hard enough, make sure you don’t get caught in a foreclosure scam. When looking for options to avoid foreclosure you should always contact a Certified Distressed Property Expert (CDPE) like Janet Anderson. She is professionally trained and certified in dealing with foreclosures and short sales. If you or someone you know is possibly facing foreclosure, you can’t afford to wait another minute. Contact Janet today and let her get your life back on track. Go to our contact page here to send an email requesting information or call 225-368-3237. And for more information visit our CDPE website at www.BatonRougeForeclosureHelpNow.com

Reasons Why You're Crazy Not to Buy

• Property taxes and qualified home interest are deductible on an individual’s federal income tax return.

• Many times, a home is the largest asset an individual has and is considered one of the safest investments available.

• A homeowner can exclude up to $500,000 of capital gain if married filing jointly or up to $250,000 if single or married filing separately. The home must have been the taxpayer’s principal residence for the previous two years.

• A portion of each amortized mortgage payment goes toward the principal, which is an investment.

• A home is one of the few investments you can enjoy by living in it!

• The majority of the time, a REALTOR® can show you any home, whether it is listed with a company or a builder or is even a For Sale By Owner.

• Working with a REALTOR to purchase a For Sale By Owner property is very advantageous, because someone will be looking out for your best interests.

• A real estate professional who can provide you financial information with a computer will give you a distinct advantage in making the right decisions.

• A pre-approved program will actually approve you for a specific loan amount subject to the property.

• Your real estate professional can provide you with a list of items that you’ll need to make a loan application, so you’ll be ready when the time comes.

• The right to conduct a property inspection, included in your purchase agreement, gives you the ability to negotiate with the seller once you know all the facts about the property’s condition.

• A Home Protection Plan can provide coverage for selected items, such as central heat and interior plumbing, built-in appliances, water heaters, etc. If the seller is not providing this coverage, you can purchase it yourself.

• Ask your real estate professional if he or she is familiar with the neighborhoods you want to live in. Ask how many homes he or she has sold in those areas in the past year.

• Working with a REALTOR who has an office “team” helps assure the buyer that the transaction will be handled smoothly.

• In a “seller’s market,” don’t go looking for a deal. Set your sights on the right house for you, and then let your REALTOR help you negotiate the best price and terms.

Foreclosure vs. Bankruptcy: Which One Hurts Most?

Foreclosure reduces the value of a home by 27 percent on average, according to a new study from Harvard University and the Massachusetts Institute of Technology.

Other kinds of forced sales have less dramatic impacts, the study found.

An estate sale after an owner’s death reduces the price of the home by only 5 percent to 7 percent. A bankruptcy filing cuts the value by an average 3 percent.

Foreclosure discounts are especially large in neighborhoods that are low-priced already, researchers point out, apparently because of concerns over vandalism.

Source: The Wall Street Journal, Nick Timiraos (07/26/2010)

If you or someone you know is facing foreclosure, contact Janet Anderson & Company today. 225-368-3237

For more information on the short sale process and other foreclosure avoidance strategies, visit our website at www.batonrougeforeclosurehelpnow.com

Upgrading Your Home on A Shoestring Budget

From REALTOR.com’s Daily Real Estate News
Homeowners who want to sell but don’t have a lot of cash to spruce up their properties might consider these tips from Bankrate.com for upgrading a property without spending a fortune.

  • Polish up the kitchen. Add new cabinet door handles, replace lighting and update the faucet set. Unless the cabinets are mica, give them a fresh coat of paint. Order new doors for kitchen appliances.
  • Tidy up the bath. Replace the toilet seat. Clean up the floor with vinyl tiles or sheet vinyl applied over the old floor. Re-grout the tub and, if the tub is dingy, add a new prefabricated tub and shower surround.
  • Paint the walls.
  • Add closet systems to all the bedrooms, pantry, and entry closets.
  • Hire a plumber and an electrician to fix anything that is loose or that leaks.
  • Clean the carpets or, if they are worn, cover them with area rugs.
  • Replace ceiling lights with inexpensive but attractive fixtures.
  • Refinish or repaint the front door and replace the hardware.
  • Mow the lawn, edge the sidewalks, mulch all the beds and put two big planters at either side of the front door.

For more information on how to fix up your home, go to our Media section and Download our Home Seller’s Handbook.

"When is a Good Time to Buy?"

It is a Great Time to Buy!

Owning a home is an investment in your future.  A home not only provides financial benefits but it also provides shelter and security to families.  Here are some of the reasons why now is such a good time to buy:

Motivated Sellers and Inventory – In the Baton Rouge, LA area affordability is high and there is an abundance of inventory.  There are many options out there for buyers and sellers who are willing to negotiate and work towards a win-win situation that works for both parties.

Home Buyer Tax Credit for first time home buyer up to $8,000 until April 30, 2010.  Also expanded to include a credit up to $6,500 to home owners who have lived in their primary residence for 5 of the last 8  years and purchase a new or existing home between November 7, 2009 and April 30, 2010.  Other factors affect the size of the credit and purchaser eligibility so talk to your real estate agent or visit www.realtor.org/home_buyers_and_sellers , and consult a tax expert for full details.

Mortgages are at Historically Low Rates for buyers who qualify.  Go to ww.FreddieMac.com and view the primary mortgage market survey for more information on the latest rules.  In addition, low interest rates, coupled with recent price declines, give people looking to upgrade a unique opportunity to take advantage of market conditions.

So why wait?  It is a great time to buy!