My New Blog

An article in today's paper prompted this blog.

A homeowner is having problems with the completion of building their home because of property line set backs. They built the house but can't get authorization to complete it because their neighbor in the rear reported them because they were not abiding by the zoning set backs.  There were comments made that the local builder who built the home should have known the set backs because it was on the building permit and ALSO their REALTOR pointed out the property lines and should have known. 

There is an 'old saying' that you learn something new every day, so let this be today's lesson...If you are buying a property, be it a house or land, YOU must get a SURVEY if you truly want to be exact on the property lines for that parcel. 

A REALTOR DOES NOT KNOW, (unless it's THEIR personal property being sold), SO DON'T ASK THE REALTOR.....REALTOR'S ARE NOT SURVEYOR'S....THEY HAVE NO BUSINESS TELLING ANYONE WHERE THE PROPERTY LINES ARE.....DON'T ASK THEM!!

The problem that arises is that THE BUYER is responsible to pay for a survey if they want to know exactly where the property lines are, and that's a cost that most buyers do not want to incur, so they ask the realtor showing the property.  If you think about it honestly, that basically takes the 'responsibility' off the buyer and puts it on to the realtor because if the realtor points out any property lines and they are wrong, the buyer will be the first to come back to the realtor and point the finger for misinformation. 

The county courthouse holds ALL of the property information and that is public knowledge, so if a buyer wants to know where the property lines are, they can visit the appropriate courthouse and look up the deed and that will give the lot dimensions. From there, the property can be walked and measured off so they can see the lot size from that. That's the cheapest way but, WE ALL KNOW YOU GET WHAT YOU PAY FOR, so for secure accuracy....PAY TO GET THE SURVEY!!!  DON'T ASK THE REALTOR!!!

People would not asK a Realtor how an appendectomy is performed because a Realtor is NOT a Doctor. 

DON'T ASK A REALTOR WHERE THE PROPERTY LINES ARE....A REALTOR IS NOT A SURVEYOR.

     I heard something today that I find VERY disturbing (to say the least ).

You may or may not be aware of the governments 'mortgage assistance program'   designed to help homeowners that are making their payments on time but are struggling and on the verge of default.

Some homeowners who have signed up for this program are getting a BIG, nasty surprise....LOWER CREDIT SCORES!! 

The Obama administration 'loan modification program' can lower their credit score as much as 100 points.  This penalty can have a very strong effect as it can  make it harder to get a loan, be a problem when applying for a new job and even trying to get insurance, as insurance companies also run credit checks. 

To enroll in the Obama administrations  "Making Home Affordable" program, borrowers go into a trial period, and it's in this trial period that some homeowners have found out that their credit score lowered because their mortgage company notifies the 3 major credit bureaus, Experian, Equifax and TransUnion.  The credit rating industry defends the practice, explaining that people who sign up for the program would not be doing so if they did not have money troubles in the first place and other lenders need to be aware of that.   I can understand this defense, what I CANNOT understand is why this issue is not brought to the forefront and explained in depth to the homeowner so they can make an informed decision as to whether they want to proceed with entering in to the program or not.  At least they would be aware that this penalty exists and would have a negative outcome. That would be protecting their interests.

This credit score issue is an unexpected consequence of the program.  A program which seems to be plagued by problems and disappointment since it started last year.  About 170,000 homeowners have completed the process with hundreds of thousands still in limbo.

It greatly disturbs me that with SO much emphasis and laws on DISCLOSURE  in our society today, one more time the government is exempt from abiding by rules.............and....that's OK!  (??)   Maybe jumping in to programs TOO FAST without stepping back to think of and discuss all the negatives and pitfalls of the program is not a good idea.

There are 3 reasons why money-smart homebuyers are buying their dream homes today!

(1)  LOWER PAYMENTS ... Interest rates are at an all-time low, making it possible to get more home at a lower monthly payment.  A 1% drop in interest rates affords you 10% more home for the same monthly payment.

(2)  BETTER SELECTION ... There are several great choices in the sought after locations in our area.  With today's inventory you can find the right home for you.  There's no need to compromise in what you want.

(3)  FINANCIAL SECURITY ... Through time, real estate has been a consistent performer when it comes to a long-term investment plan.  In fact, historically, Americans have more of ther personal wealth in their homes than any other investment option.

The economy does have it's ups and downs, but nothing stays the same forever ..... NOW is a good time to buy!

If we can help with any real estate needs or questions you may have, just give us a call at  570.412.9821. 

         SOMETHING TO THINK ABOUT:

"Life is an opportunity, benefit from it.  Life is a beauty, admire it.  Life is a dream, realize it.  Life is a challenge, meet it.  Life is a duty, complete it.  Life is a game, play it.  Life is a promise, fulfill it.  Life is sorrow, overcome it.  Life is a song, sing it.  Life is a struggle, accept it.  Life is a tragedy, confront it.  Life is an adventure, dare it.  Life is luck, make it.  Life is life, fight for it!" 

 ...Words of Mother Teresa

That about says it all!  Speaks volumes. 

 Have a great day!                      

     Time is running out to take advantage of the federal government incentive to buy a home. 

There's no time to waste.....the housing tax credit deadline is April 30, 2010, but the IRS will allow buyers who sign a sales contract by the April 30 deadline to still be eligible but they need to close the sale on the home by June 30, 2010.

To find out more about the housing tax credit, go to  www.federalhousingtaxcredit.com  and you can read detailed question & answer sections and other helpful information.  You should always check with your tax accountant before doing anything though to make sure you know what will work best for YOU.

Call us today at  570.412.9821  if you or someone you know would like to start looking for a home in time to be eligible to receive this tax credit and we will be happy to work with you. 

....If you are thinking about making a move...now is the time!

Found this quote and thought it was interesting....

"Our greatest happiness in life does not depend on the condition of life in which chance has placed us, but is alway's the result of good conscience, good health, occupation and freedom in all just pursuits".

              ....Thomas Jefferson     

  (sounds like a very wise & level-headed man)

                                

When buying any home, inspections are strongly recommended!  Some buyers feel that having inspections is a waste of money, but in actuality, it may be a cheap price to pay if there is something major that the inspections turn up. 

Having said that....when a sale is contingent on testing....nitpicking should be left out of negotiations, meaning that the main reason to get testing done is to look for MAJOR problems, problems that would cost you as the buyer some serious monetary expense.  These are the issues needed to be addressed and if the seller is not willing to work with you on these major issues, you have the option to not purchase the home and get your escrow deposit back. Fyi, nitpicking will cause hard feelings and tempers flying.

If we can help answer any questions you may have, just give us a call at  570~412~9821.