Credit and Home Ownership

Earlier this week, thanks to Amber MacArthur's Google+ post, I learned of a new website called Visual.ly.  Visual.ly takes plain old statistics, think of staring at pages of numbers at 1am to cram for your college statistics test, and turns numbers into a visually pleasing infograph.  Visual.ly goes beyond displaying numbers in a cool new way, it allows a processes or other difficult to understand information to be presented in a way that is easy to comprehend.  For example, have you every wondered what happens to your mortgage after closing, or have you questioned what a hedge fund is?  The Credit and Home Ownership infograph below shows how it might be possible you are investing in your home mortgage through your retirement account!  Sound confusing?  Just spend a few minutes looking over the Credit and Home Mortgage inforgraph and the life cycle of a home mortgage will become much clearer, at least it was for me.

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NAR pushes for extending tax credit deadline

As many of you are aware the home buyer tax credit ended April 30th. However, one of the provisions for receiving the tax credit was the buyer must close on their home buy June 30, 2010. When dealing with bank-mediated properties it can take months before a purchased agreement is accepted, and then a couple more months to close on the property. Therefore, many buyers who met the April 30th deadline of having an accepted offer now face the the potential they may not receive their tax credit because the closing will not occur before the June 30th deadline.

The National Association of Realtors (NAR) is urging the Senate and the House to extend the June 30th closing deadline. As the article from NAR states, extending the closing deadline helps the many home buyers, who through no fault of their own are unable to meet the June 30th closing deadline, while not adding additional cost to the program because these buyers have already been accounted for within the programs budget. You can read the full article at NAR's website.

Remember, if you are thinking of buying or selling now may be the best time with extremely low interest rates and a large supply of homes to choose from. Contact me at troyfelton@edinarealty.com with your real estate questions.

Finding opportunity

With so much negative news floating around these days, I think the following article provides a refreshingly optimistic perspective on today's economy and housing market. The article was e-mailed to me, and Mary Hunt was listed as the author. Enjoy!

Out of the Dark Tunnel and into the Sunshine

This morning, on my way to the office, I conducted an impromptu inspection of my little world in Southern California. Despite all the threatening headlines and doom-filled stories of the day, everything was going on just as it has for a very long time.

I didn't see fewer cars on the freeway and there was not a single For Sale sign in my neighborhood. Schools were bustling with kids and teachers, restaurants were backed up for seating and the sun was shining.

Over the past few months, I've received the same email message more times than I care to count. It goes like this:

"Due to recent economic crises, the stock market crash, budget cuts, rising unemployment, unstable world conditions, outsourcing of business, the cost of insurance, electricity, petroleum and taxes of all kinds, we regret to advise you that the Light at the End of the Tunnel has been turned off. We apologize for the inconvenience."

What makes me cranky is that millions of people believe it. Through no fault of their own, they believe their lives are now intolerable and their futures are doomed to failure while they sit paralyzed in a dark tunnel. They've become victims of The Recession.

It is a fact that the national economy of the U.S. is in a downturn, and economists say we are now in a recession. It's not the first time, nor will it be the last. Whether this recession is worse than any since the Great Depression is not certain. What we do know is that we still have 93 percent employment. Out of more than 10,000 banks in the U.S., fewer than 25 have gone under in the past year. Sure, some national retailers have closed up shop and undoubtedly others will follow, but that's nothing new. It's a sure bet that we will not be facing a shortage of stores anytime soon.

This is certainly not to underestimate or diminish what many of my readers are facing now in the wake of job layoffs and challenging times. Just don't blame the economy or feel sorry for yourself. This is life. Life happens. Perhaps you can begin to see that as a good thing. Think of it as an untimed opportunity to start your own business, change careers or move to another area. Great opportunities often come disguised as crises.

Today, I am renewing my commitment to focus on only those things that are true, honorable, fair, just, pure, acceptable and lovely. I absolutely refuse to get stuck in some dark tunnel where failure is the only option. That's why I've backed my train out of the tunnel and into the bright sunshine of optimism. I've plotted my detour, my boilers are stoked and steam is pouring through my engines. It's full speed ahead.

Bathrooms

Many of you already know that kitchens and bathrooms sell houses. Here is a link to a web site with some great ideas on how to update your bathroom. http://improvementweb.com/10-easy-steps-to-enhance-your-bathroom/42/

For more FREE tips on how to make your home stand out from the crowd, e-mail troythetechguy@gmail.com

Your real estate tech geek,

Troy


Troy is a licensed Realtor with Edina Realty

Preparing your home for sale

Welcome to the week of August 6, 2007! I thought we were out of the woods with the hot, humid weather, but it appears we have some more hot days ahead of us.

As promised, here are 3 important tips on preparing your home for sale.

1. Consider the curb appeal.
Making sure your home looks the absolute best from the street is essential for selling to today's tech savvy buyers. Most buyers find homes on the internet, then drive past the homes to physically see what the exterior of the home looks like. Today's buyers are deciding which homes they'll actually view based on the homes exterior condition.

2. Get rid of clutter!
Once your home passes the "curb appeal" test, the buyers will schedule a showing or viewing of your home with their REALTOR. This is an opportunity for you as a seller to help the buyer see the features your home offers. The goal of getting rid of clutter is twofold: 1- you want to make your home feel as spacious as possible. 2- You want the buyer to be able to imagine their furnishings in your house. If your house is cluttered, the buyer may feel there is not enough room, or have difficulty envisioning their personal items in your house.

3. Clean, clean and clean again.
When a potential buyer views your home, you have one chance to shine! Unfortunately, too many sellers still remember how the real estate market was when they purchased their home a few years ago. In the real estate market of yesteryear, buyers often overlooked small inadequacies in homes. However, with more homes to choose from, today's buyer insists the home they purchase is spotless.

For more FREE tips on how to make your home stand out from the crowd, e-mail troythetechguy@gmail.com

The real estate market is starting to regain some momentum, now that summer vacations are starting to wrap up. As your real estate guru, I'm here to help so please contact me with any questions. As always, for a FREE list of home for sale in your neighborhood, e-mail troythetechguy@gmail.com

Your real estate tech geek,

Troy


Troy is a licensed Realtor with Edina Realty

What's that smell?

I found this article about removing odors and thought this blog is the appropriate place for it. The entire article, titled 8 Surprising Household Deodorizers, can be found at http://www.realsimple.com/realsimple/gallery/print/0,22304,1590426,00.html. The title is appropriate, as I was surprised to learn Vodka has another use beyond happy hour!

Great Rates

Hello. Welcome back to "What's New in Real Estate". Interest rates are still great, with the conventional 30 year fixed rate at 6.625%. In addition to great interest rates, there is a large supply of homes to choose from, making today's real estate market a great time to buy! For a FREE list of home for sale in your neighborhood, e-mail troythetechguy@gmail.com Be sure to join me next week for 3 important tips on how to prepare your home for sale.

Your real estate tech geek,

Troy


The following information if for the week of:
July 24, 2007 - July 31, 2007

Sauk Rapids

Current Active Listings
Number 215
List Price Average $233,587
Average Days on Market 109

Under Contract Listings (Pending)
Number 0
List Price Average $0
Average Days on Market 0

Sold Listings
Number 4
List Price Average $173,650
Sale Price Average $173,075
Average Days on Market 81



*Statistical information provided is from St. Cloud Multiple Listings Service




Troy is a licensed Realtor with Edina Realty