Archive for
April, 2009
Posted by Annalisa Burgos | April 30, 2009
Whenever I go to an open house, the listing agent often offers me the business card of a mortgage broker or loan officer, in case I’m looking for financing. Since I usually secure financing before I go house hunting, I never really think about the recommendation. Figured the guy was a friend, so the agent was doing him a favor by throwing him a bone.
But what if that agent or broker took a kickback for it. A big NO-NO.
Apparently, that’s what the nominee for the head of the Federal Housing Administration is accused of.
David Stevens, president and chief operating officer of Long & Foster, was supposed to be confirmed on Capitol Hill this week, but lawmakers put the vote on hold to review lawsuits alleging his company broke federal anti-kickback laws.
Long & Foster is facing several class action lawsuits, alleging that it shared profits with affiliated mortgage and title companies in exchange for bringing buyers their way. While these relationships are commonplace in the real estate industry, profiting from them is illegal.
If confirmed, mortgage industry vet Stevens will run the FHA, which offers those highly-coveted loans that require as little as a 3.5 percent down payment.
Posted by Annalisa Burgos | April 28, 2009
I’m trying to buy a condo in Manhattan and you know that’s nothing but drama. Running around the city via subway and cabs. Dealing with sellers who haven’t accepted the reality of the market. Trying to get financing with loan terms I want. And hello! Did you know New York City has the highest closing costs in the country, averaging $4,016, according to a survey by Bankrate?! DRAMA!
Well, now there’s a guide for anyone tired of the stress of buying, selling or financing a home. (drum roll please)
Introducing the new “Drama-Free Real Estate” series on HGTV’s FrontDoor.com. FrontDoor Freak-Out Prevention Specialist and real estate expert Tara-Nicholle Nelson offers more than 100 timely stories and tips to help you take the drama out of your homebuying, selling and financing experience. Check it out at: http://www.frontdoor.com/dramafree
Tara’s breaks down the “Top 10” action steps, strategies and insider secrets you must know; offers “Don’t Freak Out” tips to tackle the main sources of frustration; and shares her experiences and lessons learned with real-life clients in “Been There, Done That.”
If you’ve got drama you can’t handle, consult Tara’s guide and leave a comment here. We want to hear about it!
Posted by Annalisa Burgos | April 24, 2009
As far as real estate news is concerned, this week was more of the same. Foreclosure activity is up, home sales are down. And with unemployment up 8.5 percent in March, more out-of-work homeowners will have trouble making their mortgage payments.
Hopefully by now, every struggling homeowner knows there are options to foreclosure, such as a short sale, refinancing or getting a loan modification.
As Rick Sharga, SVP at foreclosure data provider RealtyTrac, explains in this interview earlier this year, three major reasons are fueling the jump in foreclosures across the country.
Meanwhile, one man’s loss is another man’s gain. Not surprisingly, investors and first-time homebuyers are flooding the market looking for bargains. Among the best cities to look? Las Vegas. Sin City had the highest rate of foreclosures of any major city in the first quarter of this year, according to RealtyTrac’s latest report.
And while existing home sales are down 7.1 percent over the past year, the National Association of Realtors says more than half of the homes that were bought in March were snatched up by first-time buyers. Hmmm, must be that $8,000 federal tax credit everyone’s talking about. Wish I could get in on that, but I bought a condo in 2007.
For tips and advice on how to work the foreclosure market, check out FrontDoor.com’s Foreclosure Buying Guide.
Posted by Annalisa Burgos | April 22, 2009
Happy Earth Day! FrontDoor.com is joining the worldwide effort to promote awareness and appreciation for the environment with these green real estate tips:
Think about the advantages of making green updates to your home. Energy savings, for one! If you’re a seller, replace old energy-hogging appliances with Energy Star ones. You’ll not only increase your home’s value, but you’ll attract more buyers. See the top 10 reasons to go green now.
You don’t need to shell out tons of money to make green updates. A simple one is changing light bulbs from incandescent to fluorescent. Learn more ways it can pay to be environmentally friendly.
Do your part to save trees! Bamboo or cork make great alternatives to hardwood floors. Learn more about eco-friendly flooring.
Make recycling a household habit. Find inspiration in our slideshow of 10 Green Home Updates.
Get more eco-friendly tips for buying, selling and financing a home in our Green Real Estate Guide at http://www.frontdoor.com/Buy/All-About-Green-Real-Estate/1661.
Speaking of green, don’t forget to sign up for HGTV’s Green Home Giveaway. The home is decked out with the latest in green technology and it’s in lovely Port St. Lucie, Florida. Enter now!
Posted by Annalisa Burgos | April 21, 2009
Looking for a place to unleash your rock-and-roll soul? Well the self-proclaimed minister of R&R Lenny Kravitz is selling his waterfront Miami Beach mansion for $2.85 million.
The 5,700-square-foot home in the exclusive Biscayne Point neighborhood features 3 bedrooms, 3 full and 2 half bathrooms, a “resort-like” backyard, open bay views, over 1,100 square feet of tiled dock and 100 feet of waterfront.
The aerial view may not look like much, but check out these interior pictures! The decor screams “rocker pimp,” with white shag carpeting, black patent-leather walls, red lacquered floors and a white padded-patent-leather bar.
Reportedly, the rocker toned down the over-the-top decor before putting his shag pad on the market. Good move since not everyone is into that retro disco look.
But Lenny isn’t the only one selling a house — browse more homes for sale in Miami Beach. And if Miami Beach is not your style, find your flavor elsewhere in Miami, FL. Check out the five Miami neighborhoods that are in demand right now.
Enjoy checking out cool houses like this? Tune in to FrontDoor’s Cool Houses Daily every day at http://www.frontdoor.com/coolhouses and submit your own cool house for sale at coolhousesdaily@frontdoor.com.
Posted by Annalisa Burgos | April 17, 2009
It’s time for another fun-filled weekend of open houses. As you brave the gauntlet of brokers eager to get your business, here are some great tips and worksheets on FrontDoor.com to help you with your search or sale.
Buyers – Hopefully, you’ve done your research and know how much house you can afford and what to expect in the homebuying process. Check out the listings on FrontDoor.com. When you see a place you like, add it to your list of “must-see” properties. If you’re working with a buyer’s broker, he/she should have compiled a list of homes for sale that meet your criteria. Before you head out, master these tips for what to know and expect at an open house. Print out FrontDoor’s Homebuying Checklist and multiple copies of the Home Tour & Open House Worksheet. Fill one out for each property you see and like. And don’t forget your camera!
Sellers – Your real estate broker should have broken down the entire selling process to you and explained how to prepare your home for the open house crowd. For your easy reference, print out FrontDoor’s Home Selling Checklist and the Home Tour & Open House Worksheet. Make sure everything is ready to make that great first impression. Now, it’s up to your listing agent to sell your home to the potential buyers walking through the door.
Speaking of open houses, don’t forget to watch Open House Sundays on HGTV, starting at 10:30 a.m. See how homebuyers and sellers just like you are working the real estate market.
Posted by Annalisa Burgos | April 16, 2009
Selling a home is a challenging job racked with potential pitfalls. Those of us who’ve experienced those pitfalls know the misery. Well people, misery loves company!
FrontDoor.com wants to hear your stories about surviving a home selling nightmare! Did your home sit on the MLS for three months without one offer? Did your real estate agent list your home too high and you had to reduce the price every week? Did the professional stager charge you an arm and a leg for some new paint and candles? Did the appraisal come back lower than your sale price? Did the home inspection reveal thousands of dollars in necessary repairs and your buyer threatened to bail?
We want to hear about it! Email your home selling nightmares to egray@scrippsnetworks.com. We could feature you on FrontDoor.com’s new Pricing Your Home Guide, due out in May!
Everyone wants to get the most money out of their home when they sell, but you can’t always get what you want. If you really have to sell now, do the research so you can price your home based on fair market value and market trends. Be realistic. You may have to do a lot of compromising to get your home sold.
Posted by Annalisa Burgos | April 15, 2009
Judging by the lines at my post office this morning, a lot of people are waiting til the last minute to mail those tax returns. Kudos to those of you who have already received your tax refunds — April 15 is just another arbitrary date. If you’re a procrastinator like me, you’ve filed an extension so you can put it off for another day.
For homeowners, tax issues are always at the forefront of their minds, regardless of the date. Tax breaks are often touted as the biggest perk of owning a home, since you can deduct mortgage interest, property taxes and mortgage points for the year you buy. This year, an $8,000 tax credit for first-time homebuyers is enticing more newbie buyers to come out of the woodwork.
Any real estate transaction has an effect on your tax situation. Whether you’re selling a home or transferring a home to a family member, research the tax implications first.
Perhaps the most contentious tax issue for homeowners is property taxes. Local governments rely heavily on real estate tax revenue to balance their budgets. Today, as home values plunge in many markets, homeowners are asking that their properties be reassessed and their taxes lowered to reflect that sharp loss in value. If you want to appeal your property tax, contact your county assessor or the local government entity that handles real estate taxes in your area. Be wary of companies that claim they can get your property tax lowered if you pay them a fee. Oftentimes, you can start the appeal process yourself.
But don’t be too hopeful. It’s a recession and many cities are coming up short on their budgets. So even if you do appeal, they may simply increase the tax levy in order to get the same amount from you.
If you’re buying a home, do yourself a favor and estimate your property taxes yourself. Real estate listings show what the current homeowner pays, but oftentimes, the property is reassessed when a new owner takes over. Do the research so you aren’t unpleasantly surprised.
For more helpful tax tips, go to http://www.frontdoor.com/home-finance/FrontDoors-Top-10-Tax-Tips/54900. And remember to always consult your tax professional before taking any action.
Posted by Annalisa Burgos | April 10, 2009
Everytime I tell people I work for HGTV, they immediately tell me how much they looooove “House Hunters.” Most of these people aren’t actively looking to buy a home, so I ask why. And the response is pretty much the same across the board — “I love looking at houses.”
Imagine that. People who just want to look at houses. Well — ask, and you shall receive. We’ve got just the thing to unleash your inner property voyeur.
FrontDoor’s “Cool Houses Daily” gives you an exclusive peek into an amazingly cool house each day. And by cool, we mean homes with over-the-top features like panic rooms and helipads, celebrity-owned homes or even a house that supposedly will extend your life!
Safe to say HGTV has mastered the art of showcasing homes and bringing the excitement and drama of homebuying and selling to viewers who can not only relate, but want to be part of it (i.e. how can I get HGTV to redo my kitchen?).
So it was only natural for HGTV to launch FrontDoor.com, with the goal of reaching the millions of Web-savvy consumers who are not only actively buying or selling a home, but those who are just genuinely passionate about the idea of “home” and real estate. You’ve probably already seen the extensive how-to guides and expert tips on the site. But how cool is it to check out some of the most unique homes on the market?
So stop by everyday: http://www.frontdoor.com/coolhouses. You’ll get a daily dose of interesting properties you never knew existed. Who knows? It may motivate you to start house hunting or at least see what other unusual homes are out there. And if you know of a cool house for sale, email a description and photos to coolhousesdaily@frontdoor.com. We could feature it on CHD.
Posted by Annalisa Burgos | April 8, 2009
I’m still hunting for that perfect home to buy, and my real estate agent hit a snag when trying to make our home tour appointments for this weekend — it’s Passover and Easter and no one is available! Now, I’m Catholic (albeit a non-practicing one, but still Catholic), but I’m still bummed. After all, I’m too old to dye and look for Easter eggs and my family is all on the West Coast.
That said, your friends at FrontDoor want to you wish you a wonderful Passover and Easter, whether you celebrate these holidays or not.
If you happen to be selling your home right now, go for tasteful seasonal staging! Like Thanksgiving and Christmas, holidays give you the opportunity to add warmth and create that real feeling of “home” that can be missing with standard staging. Plant bright beautiful flowers in your front yard for Easter or showcase your grill and outdoor patio around Independence Day.
Put away personal knick-knacks and tone down the religious decor so potential buyers can envision themselves in the space. You don’t want to distract them.
For instance, your favorite Easter bunny chandelier that Aunt Martha gave you may not appeal to most buyers, but a bunny statue in your garden can be a cute touch. Read more helpful staging tips for the holidays.
Staging your home right is critical to creating a great first and lasting impression for buyers. It can mean the difference between you getting an offer or none at all. Remember to clean, declutter and highlight your home’s best features. And get more expert tips and advice in FrontDoor’s Home Selling Guide.
Next Page »
Subscribe to this blog
Friend us on Facebook
Follow us on Twitter