National Housing news

National Housing news
Source:3-27-12 The Virginia Pilot Business today
February sales contracts dipped.05 % from January’s 97 index . That had been the previous 2 year high. A reading of 100 or higher is considered to be a health market. These stats only help determine the health of the market. It can take about 60 days to close on a mortgage and its not a completed deal till the mortgage is closed.

Foreclosure and renters

Consumer Protection bill HB1110

Share with me your thoughts on this subject.

If a home is foreclosed on and has a person renting it still in a lease should the bank have to honor that lease as long at the renter is paying the rent ? This is one bill that is being investigated currently and would keep banks from tossing the renter out once the foreclosure has taken place. On the surface I see it as a good policy. Tell me something that you think could be bad about it and lets have a conversation.
Im a Realtor in Hampton Roads and I see this happening all the time. I have not taken a long hard looked at the pros and cons of keeping the lease in place. I do know that when you sell a home with a lease the new homeowner has to honer that lease. I would think its good practice to have the same policy with the bank takes it over. It the renter is in good standing and is willing to stay it might help the bank buy sometime on the sale of the home.

You want a bargain home

So you want to buy a foreclosed home ?

Yes there are diamonds in the rough and some great opportunities to make some good investments by the way of rental homes and flips.
How do you protect your self when buying one ? Foreclosed homes are discounted for a reason many times it because of the physical condition of the home and its less desirable due to the repairs needed. I find many times the basic home requirements that every home must meet to be able to get a loan on the home is neglected. These items are Roof, Wood rot, Broken Windows, Floor covering and these are just the repairs you can see. The next level would be structural in nature like sills, joist, and foundation issues.
Here are some good tips to help you when making a decision
Look at what happened prior to the foreclosure
GET AN INSPECTION ! No matter how handy you think you are you don’t want to be rebuilding the home from the foundation up.
Get a moisture and termite inspection ALWAYS. My biggest advice for anyone buying a home with a crawl is get someone to view the underneath. Ensure its going to be an aggressive inspection and ask for them to look at every inch. I have had “missed” damage in the past. Its not a good feeling to find that out after the sale.
Review the reports with Qualified contractors. Examine all aspects of the report or ask to take the contractors back to the house for estimates. If you can have each trade come to the inspection and take care of that at one time.
So your going to do all the repairs your self. Good luck on that, I hear this all the time about how handy someone is and they can do it all. I hate to tell you this but 90% of the time its not going to be something you can do and get the results of a professional.

If your planning on rehabbing and flipping homes then partner with the right people first so your investment is top notch and you can get top dollar when finished.

Okay you hired me, but Im not your slave

I just had to post this as it was eating me up inside. Recently I was hired as a listing agent for a couple who are in their own domestic distress. I have been very patient in dealing with basically 2 conversations anytime there is something to talk about and having to mediate between the two. We received an offer at almost full price with in 2 weeks of the listing going on the market. Our market time is normally 4-6 months. I have met the appraisal company out there and a contractor to let them in for homes repairs. Yesterday I get a call asking me to drop everything Im doing and run over there to let a moving company in. I graciously told my seller I was in the middle of an event and was not able to help. Mind you the son was just no where to be found and was the one who was supposed to open the door. I asked my assistant would they be able to help but they to had obligations. I was SHOCKED at the reply I got from my seller. He said Come on Im paying you 19 thousand dollars all you have to do it let them in. WHOA ! HOLD on buddy ! That hit me WRONG ! Im normally jumping to do everything I can to help and take stress for my clients, to have someone act like Im not just a listing agent but a go to girl at their beck and call was just going to far to me. I reminded them I was NOT making 19k and I have been there for everything they needed but I was not going to drop everything because they did not plan for them self. It worked out that my assistant was able to make if over to open the door. Guess what we never even got a follow up for a Thank you for jumping through hoops.
I may be crossing the line by posting this but I needed to remind people we are hired to perform REAL ESTATE services NOT what ever you need us to do. Would you ever consider telling a doctor or an attorney, Im paying you this much just do what I want ? Please people realize we cannot just DROP everything we are doing at anytime you need us. We have other clients and obligations as well. I will ALWAYS jump if I can but when I say I cant I just cant.

Sellers, are you tired of FLAT photos of your home ?

This is a GREAT reason to hire Alison Creamer, Realtor to help expose your home. If you’re in the Hampton roads area you owe it to your self to listen to my presentation. I don’t just take a flat photo and expect wow the potential buyer. With so many homes on the market you need something different. I will tour your home and create a virtual story. The best part of all it cost you nothing !

Both homes are sold now but, the interesting fact here is both homes were viewed online by the prospective buyer and then they made an appointment to come see the house.
I am a Realtor with Keller Williams Realty in Hilltop. My office is located at 1709 Laskin Rd Virginia Beach, VA 23454.
Licensed in the state of VA. 757-652-8880 Direct #
Im a Realtor, CDPE and ABR.
If your home is currently listing this is not a solicitation for services.

bzibee

bzibee

Originally uploaded by BZIBEE

SO what do you think ? Pretty catchy

Page view and web traffic for Real Estate

Well well. It appears people here in Hampton Roads are on the move again. My Bzibee website for Real Estate has produced an heavy increase in traffic this report. I would guess with homes being at some record low prices buyers are starting to see the rewards. Homes for sale here in the Virginia Beach area are still holding value over other areas of the country. We do have a few sections that lenders have market values on the decline but nothing compared to places like Michigan and Florida. 

Are you currently looking to buy a home? I still think buying a home, getting the tax credits and being able to do what you want with that home is the most rewarding feeling. Renters are still lining the pockets of the landlord and can be told it’s time to leave every time the lease is up. That is a scary feeling to me. If I lived in someone’s home I would always wonder will we get another lease.

Client Rewards

Do you reward your best clients with a gift? I spent a few hours today with 4 other Realtors getting all the details worked out. We have 740 seats at a local theater and will play three movies. We have snacks, drinks, Santa, goody bags, photos, and of course, we will be collecting for Toys for Tots. I’m so excited to offer my clients a free day. Somewhere they can get away and have some fun. I love these events. It offers me a chance to give back. I get so many people passing my name around and this is just one way to give them and their family a thank you.

Thanks to all my GREAT clients!!! Love to you all!!!!