Posted by Annalisa Burgos | May 5, 2009
To many of us, the foreclosure crisis is a tragic reality of today’s economy. For savvy con artists, it’s an opportunity to make a lot of money.
Case in point, a California woman, Anna Santos, 22, pled guilty on Monday to mortgage fraud. According to the Mortgage Fraud Blog, Santos reportedly scammed 100 homeowners, offering non-existent loan modification services and conning them out of thousands of dollars. She mailed flyers promoting a foreclosure rescue program that appeared to be from victims’ lenders or a government agency. Victims mailed Santos (operating under a false company name) as much as $3,000 and received forged loan modification documents.
It’s all very sad. You’re facing foreclosure and what little money you have left is stolen by someone you trusted would help you. Which is precisely why lawmakers and government agencies want to more aggressively investigate and prosecute cases of real estate fraud. The Department of Justice, for one, is working to form a national mortgage fraud task force.
Many homeowners facing foreclosure may feel desperate and trapped, and as a result, grasp for any bit of hope they can find. But it’s important to take a breath and research your options. Don’t jump at any offer you get in the mail. In fact, there are three major red flags you should look out for before participating in any foreclosure rescue program.
READ THE RED FLAGS OF MORTGAGE FRAUD.
And get more tips and advice for fighting foreclosure on FrontDoor.com.
Posted by Annalisa Burgos | May 4, 2009
Moving sucks. I’m actually moving from Jersey City to Manhattan this week and I’m NOT looking forward to it. My husband and I are doing it on the cheap so no movers, just us. Luckily, we’ve been in a “transition” period since December so we have no furniture (just our bed) and don’t have much stuff anyway.
On the other hand, most people have rooms and rooms of stuff and trying to get all that from point A to point B can be overwhelming. Allow your friends at FrontDoor to help.
This month’s top 10 kicks off Moving Month on FrontDoor.com. Get our Top 10 time-saving tips for your move. From drawing a furniture floor plan to creating a moving checklist, planning ahead can save you time, money and energy.
Even non-type-A personalities can move with ease, thanks to FrontDoor’s Moving Guide. We break down everything you need to know to get it together, including how to choose movers, move greener and hold a garage sale so you don’t end up bringing your “sure-it’ll-fit-again” prom dress or that florescent lava lamp you got at the swap meet.
And coming soon, our new “Major Move” video series! Watch as our no-nonsense moving expert helps one family shape up and ship out!
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 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 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 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 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.
Posted by Annalisa Burgos | March 20, 2009
Happy first day of Spring! In celebration of the traditional kickoff to the busiest season for real estate (and this one will definitely be busy, what with interest rates as low as 4.3 percent!), FrontDoor.com is bringing you helpful tips to make the most of your homebuying and selling experience.
Sellers, we know this may be a challenging market, but the good news is that you have the potential to showcase your home to a large number of buyers who are out in force trying to take advantage of low interest rates. If your home is in great shape and priced competitively, you’ll have every buyer’s attention. You may even spark a bidding war. Get your home ready with our Staging Tips for Spring and be sure to visit FrontDoor’s Home Selling Guide for more tips and advice on selling in a buyer’s market.
Buyers, you’re in a wonderful position! There are great deals out there. But before you start looking for houses, call at least three lenders, compare rates and terms, and get a preapproval. It’ll help you determine how much house you can afford. Check out our Home Finance Guide for more tips and advice on shopping for a loan.
If you’ve never owned a home, check out FrontDoor’s First Time Homebuyer’s Guide. We’ve broken down the entire process in simple terms, complete with checklists and worksheets, so you’ll know exactly to expect. Did you know there are cities suited for first time homebuyers?
And buyers and sellers, consider going green in honor of spring. FrontDoor’s Green Real Estate Guide is chocked full of information on how to make affordable green updates and how to find a “green” home.
Happy house hunting and selling!
Posted by Annalisa Burgos | March 14, 2009
I never would have dreamed of buying real estate in Manhattan. But somehow in today’s market, I can actually afford it. And I’m not talking about million-dollar properties. I’m talking 1-bedrooms going for as little as 350K. What!?! Granted these are tiny co-ops/condos relative to the rest of the country, but still! When I first moved here in 2003, buying in “the city” was totally unheard of. I was resigned to life as a renter.
The tricky thing though is not finding a place, but finding a lender who’ll give me the loan terms I want. I know the process, but in today’s market, things are constantly changing. One minute, the Bank of America rep is saying I need to put 10 percent down, the next minute, I have to put 15 percent down. Mortgage officers are still trying to figure things out.
The great thing is you can educate yourself as much as you can. FrontDoor’s Home Finance and Home Value Guide features tips and advice on everything from getting a loan to refinancing to buying investment properties. See the 5 strongest housing markets in the country and find out which remodeling projects actually add value to your home.
Buying in Manhattan is different from other markets mainly because buyers at my level are typically limited to cooperative housing. Unlike condos, in a co-op, you’re buying a share of the building, which is legally owned by a corporation. Most co-ops require approval from a board before you can buy in the building. You also are required to pay monthly maintenance fees that cover the building’s mortgage payment, property taxes, a property manager and any amenities. Learn more about the process in FrontDoor’s Co-Op Buying Guide.
So this weekend, I’m hitting the pavement and looking for a Manhattan apartment. Who knew?!
Posted by Annalisa Burgos | March 12, 2009
With foreclosures instantly at the top of the news again, we’ve pulled together tips and tools for homeowners struggling with their mortgages. For one, contact your lender immediately and ask about your options, whether it’s a refinance or loan modification.
Also, investors looking for opportunities should check out our 10 steps to buying a foreclosure. Did you know properties can be in one of three stages of foreclosure? Find out which one is right for you. Plus, search for available foreclosures on FrontDoor.com.
According to RealtyTrac, the foreclosure picture remains bleak, with February foreclosure filings in the U.S. up 30 percent year-over-year. Among the top 10 hardest hit metro areas, in order: Las Vegas, Cape Coral-Fort Myers, Stockton, Modesto, Merced, Riverside-San Bernardino, Bakersfield, Reno-Sparks, Phoenix and Vallejo-Fairfield. The news comes amid President Obama’s $75 billion dollar efforts to keep struggling homeowners from losing their homes.
FrontDoor Insider Rick Sharga of RealtyTrac predicts even more challenging times this year. Several analysts and economists have said that Obama’s refinancing and loan modification programs aren’t enough to buoy an economy plagued with an 8.1 percent unemployment rate and lagging consumer confidence.
And with foreclosures sure to make headlines again, FrontDoor is working on a new foreclosure resource center, with more helpful guides and tools. Stay tuned!
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