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Selling Your Home in a Down Market

by Leslie Edwards

Even in a down market, the best homes sell.  Read this USA Today Article for ways make sure your home gets SOLD.

http://www.usatoday.com/money/economy/housing/2011-07-02-home-sellers-down-market_n.htm

If you are ready to sell, or just want to talk about it, call me.

leslie edwards                                                                             770.460.9448                                                            leslie@leslieedwards.com                                                 www.SouthMetroAtlantaMLS.com                                                           RE/MAX Around Atlanta

 

The 7 Worst Things You Can Do to Your Credit Score

by Leslie Edwards

This Article Was Written by Broderick Perkins and Reposted
Because it is Great Information About Your Credit Score.

John Ulzheimer, president of Consumer Education at SmartCredit.com, the credit blogger for Mint.com, is an expert on credit reporting, credit scoring and identity theft.

Formerly with FICO, Equifax and Credit.com, Ulzheimer is a rare editorial source -- a recognized credit expert who actually comes from the credit industry.

He often references in his writings the "Seven FICO Deadlies," credit score deflating actions, but only recently identified them in one consolidated list.

Your credit score, from about 350 (poor) to 800 (excellent) is a numerical rendition of your credit report. The higher your score, the more likely you'll get approved for credit and the more likely you'll get the best rate and terms. Negative actions posted to your credit report, take a bite out of your credit score.

Here's what Ulzheimer says are the seven worst things you can do to your credit score. And speaking of "seven," that's how many years these black marks can stay on your credit report.

 

  • Deadbeat behavior. Frequent, significant and late payments 30 days, 60 days, 90 days late. Don't believe a 30-day-late payment won't hurt. It may not ruin your credit but it's not helpful and can remain on your report for years.

    Collection activity. When the lender gets tired of your deadbeat behavior it will call out the dogs -- a third-party collection agency. The collection agency will report collection activity to the credit bureaus and again, seven years of bad luck.

  •  Charge offs. If the lender gives up on your collection case, acknowledging you'll never pay the bill, it charges off the debt and puts your credit report on notice for seven years.

  • Public recordings. Bankruptcy, tax liens, judgments and the like are killers for your credit rating. Judgments are good (or, from your viewpoint, bad) for seven years, even if you pay them off. Bankruptcies can dog your credit report for 10 years and unpaid tax liens never go away.

  • Settlements. If you pay a portion of a debt to your lender in a settlement, say a some of the mortgage in a short sale, you can get a settlement notice on your credit report card for seven years. Credit cards and other debts, likewise can be settled, with negative impact to your credit report.

  • Foreclosures. If you can't or won't pay your mortgage the lender will eventually foreclose and relieve you of your home. Another seven year negative notification will drag down your score. The same applies when you give the home to the lender in a deed-in-lieu of foreclosure.

  • Repossession – When you don't pay your vehicle loans a bounty hunter will be coming your way. He or she is not coming after you, but your vehicle, and that's often without notice, after you've been dunned for a while. It's all legal. The repo man can take your property down and your credit score will follow.

    Although getting a mortgage is more difficult today than it was a few years ago when the real estate market was hot, qualified buyers are getting approved everyday. Call me and let's discuss your situation and see how I can help you.  Your information is always confidential and as always, there is no obligation to do business with me.  Let's talk.

    leslie edwards                                                                       Environmentally Aware, Socially Conscious, Politically Active Real Estate Agent 770.460.9448                                                                                           

    CDPE Certified Distressed Property Expert                                                                              CRS   Certified Residential Specialist                                                                                          Epro  Certified Internet Professional                                                                                              ABR   Accredited Buyer Representative                                                                                       GRI   Graduate of the Realtor Institute                                                                                            Dave Ramsey Endorsed Local Provider                                                                                   Selling South Metro Atlanta including:Clayton, Fayette, Henry, Coweta, Merewether, South Fulton & Spalding Counties. Call me now tow buy or sell in all the towns and cities south of the Atlanta International Airport, including, but not limited to:Brooks, College Park, Fairburn, Fayetteville, Jonesboro, Locust Grove, McDonough, Newnan, Sharpsburg, Stockbridge, Palmetto, Peachtree City, Tyrone and more

    Moving Families Since 1978                                                                                                                 Let My Experience Work For You                                                                                     770.460.0739 Fax                                                                                                                                    See All the Lisings in The MLS At www.SouthMetroAtlantaMLS.com      www.leslieedwards.com/blog                                                                     leslie@leslieedwards.com                                                                                                           RE/MAX Around Atlanta

     

    Save your credit, relieve the uncertainty, and most of all, help your family. Call me for Short Sale and Pre-Foreclosure Solutions and let's get started on the path to recovery.

    http://www.leslieedwards.com/Blog/What-is-a-Short-Sale-and-Why-You-Might-Want-One

      

     

     

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    Is it "Me", "Myself" or "I" ?

    by Leslie Edwards

    95% of the time when I hear someone use the word "myself" in a sentence, I cringe.  The word "myself" is rarely used correctly.  More often than not, the correct word is either "I" or "me". 

    Below are two explanations of when to use "Me" "Myself" or "I"

    "In the old days when people studied traditional grammar, we could simply say, "The first person singular pronoun is I when it's a subject and me when it's an object,' but now few people know what that means. [. . .] The misuse of I and myself for me is caused by nervousness about me. [. . .] But the notion that there is something wrong with me leads people to overcorrect and avoid it where it is perfectly appropriate. People will say, 'The document had to be signed by both Susan and I' when the correct statement would be, 'The document had to be signed by both Susan and me.'

    Trying even harder to avoid the lowly me, many people will substitute myself as in 'The suspect uttered epithets at Officer O'Leary and myself.' Myself is no better than I as an object. Myself is not a sort of all-purpose intensive form of me or I . Use myself only when you have used I earlier in the same sentence: 'I am not particularly fond of goat cheese myself'" (Brian’s, Common Errors in English Usage).  *** I wanna be, all by myself. le

    When do you use "me"?

    The craziest rule of all, to my ear, is the rule that governs the use of "myself" and "me". Which of these *sounds* correct to you?

    1. The Captain handed the medals to my partner and myself.

    2. The Captain handed the medals to my partner and I.

    3. The Captain handed the medals to my partner and me.

    The correct version, of course, is the 3rd. The word "me" is always a direct or indirect object (never a subject) and "I" is *always* a subject--that much doesn't sound too far-fetched, and it rules out the 2nd example.

    "Myself" is a special object (direct or indirect), to be used only when the subject is you (note I didn't write "...when the subject is yourself"). I can give a gift to *myself* since I am the one doing the giving. The Captain can never "give a gift to myself" since the subject is the Captain.

    Part of the confusion comes from the two-part indirect object in the examples above ("my partner and me") but the same grammar rules apply whether or not the object is compounded.

    leslie edwards, Realtor                                                                       770.460.9448                                                                                                        leslie@leslieedwards.com                                                                                          see all the listings at                                            www.SouthMetroAtlantaMLS.com                                                                     As a Certified Distressed Property Expert, I help families avoid foreclosure.  If someone you know can't pay their mortgage, ask them to call me.

     

    Alternative to Airport Body Scanners

    by Leslie Edwards

    A great alternative to body scanners at airports . . .
      
    The Israelis are developing an airport security device that eliminates the privacy concerns that come with full-body scanners at the airports.

    It's a booth you can step into that will not X-ray you, but will detonate any explosive device you may have on you. They see this as a win-win for everyone, with none of this crap about racial profiling. It also would eliminate the costs of a long and expensive trial.  Justice would be swift. Case closed!

    You're in the airport terminal and you hear a muffled explosion. Shortly thereafter an announcement comes over the PA system . . . "Attention standby passengers we now have a seat available on flight number 1234. Shalom!"

    Product I Love. Juice

    by Leslie Edwards

    When I go to the grocery store I like to buy at least one thing I have never had before.  Sometimes I find something I like a lot and sometimes I try something I vow never to eat again.  I don't like to drink out of plastic bottles and it is not easy to find drinks in glass bottles.  I have been taste testing juices ,in glass bottles, for a few months and have a favorite to share. 

    R.W. Knudsen, Simply Nutritious, Morning Blend.  All natural, no artificial ingredients, Over 100% of the recommended daily allowances of  Vitamins A, C, E &  Beta Carotene.  Very tasty,  good for you and in glass bottles.  They hide it in the organic or greenwise section of the grocery store so you will have hunt, but it's worth it.  Try it and let me know if you like it as much as I do.

    If you have a product you love that is organic or all natural, I hope you will share it with me.

     leslie edwards                                                                                                                                                                                               770.460.9448                                                                                                                                             RE/MAX Around Atlanta                                                                                                              770.460.9448                                                                                                                                            For all your real estate needs

    www.leslieedwards.com                  leslie@leslieedwards.com

    3rd Quarter 2008 Coweta Co. Real Estate Activity

    by Leslie Edwards

    The most interesting fact about the Coweta real estate market is this:  From July 1 through September 30 almost the same number of single family homes sold as expired unsold.  Meaning that a sellers chances of selling vs. expiring are currently 50%-50% in Coweta County.

    Here's the interesting part:  87% of homes listed as foreclosures for the same time period sold while only 13% espired unsold.  Big Difference.

    Area foreclosures drive prices down as foreclosures are typically priced substantially less than the original sales price and far below what an average homeowner can sell for and pay off their existing mortgage. Some of those homeowners let the homes go into foreclosures which continues to drive prices down, and the cycle continues.

    There are currently 1804 homes for sale in Coweta County.  Based on sales over the past twelve months this represents more than a one year supply of homes for sale now.  The average list price is $257,805

    477 homes sold in the 3rd quarter 2008.  The average sales price was $195,576 while the average sales price of the sold foreclosures was $141,240.

    The average price of homes that expired was $250,408 which over $50,000 higher than the average sale price.

    Summary, many of the homes on the market today will not sell anywhere near the listed prices.  Aggressive pricing is necessary to get ahead of the declining market.  A high price with small reductions is following the market down while always being priced over the current market indicates.

    The good news.  If you are a buyer, there is no better time to purchase a home.  You will be able to buy more house for the money and interest rates are LOW.  Buy Low, Sell High.

    My thirty years of fulltime real estate experience has taught me that no matter how bad the market gets, it always comes back.  Like the stock market, the real estate market moves up and down.  No one can predict how long it will take for the market to recover, but people in the know, know it will recover. 

    If you are a seller, wait if you can, rent if you can't or price your home very competively and sell it.  To get a great deal on a home to buy, you may have to take a loss on the home you are selling.  If you can stomach being a landlord, do it and go buy the house you want. Buy low, sell high.

    Ask me for a FREE market consultation, with no obligation, to discuss your real estate options.  I want to be your resource for real estate.

    leslie edwards                                                                                 sells real estate                                                                            770.460.9448                                                                                 RE/MAX Around Atlanta

    be environmentally conscious

    3rd Quarter 2008 Fayette County Real Estate Market

    by Leslie Edwards

    There are currently 1350 single family homes for sale in Fayette County. The average list price of the homes for sale is $400,770.                     From July1st through September 30th: 308 homes sold with an average sales price of $299,044 down from the 1st quarter average sales price of $309,228.  392 homes expired unsold which means that 56% expired and 44% sold.

    76% of the foreclosures sold with an average sales price of $235,598 while only 16% expired.  Foreclosures tend to be priced way under market, which helps drive the prices down, which forces anxious sellers to sell for less, which continues to drive the prices down. And it goes on and on....

    But it is not all bad news. Smart buyers know that this is the perect time to buy.  Prices are down, interest rates are low and there are plenty of homes to choose from.  Buy low, sell high.

    During my 30 years in real estate, I have seen a few really bad markets.  When Jimmy Carter was President, although the interest rates were 14% to 18%, people still bought homes.  I sold 40 houses in the worst year with no help, no fax, no cell phone and no GPS.

    It is never as bad as the media would have us believe.  Real estate, like the stock market, moves in cycles, up and down.  Buy low, sell high.

    If you want to or need to sell and are willing to sell at a discount, call me.  Experience pays in any maket.  In a challenging market, the agent you choose is critical.  I offer a FREE, no obligation, consultation to give you the information you need to make you real estate decisions.  Call me. I want to be your resource.

    leslie edwards                                                                                   sells real estate                                                                                 770.460.9448                                                                                 RE/MAX Around Atlanta                                                                    Serving South Metro Atlanta

     

    Buy and Bail, A new trend

    by Leslie Edwards

        For the past few years adjustable rate mortgages, 103% mortgages, interest only and other no down payment financing options, coupled with artificially high appraisals and prices have resulted in many homeowners being upside down in their homes.  They owe much more to the bank than the home can sell for.                                                                                                                    When nearby foreclosures sell for thousands less than the paying homeowner owes, it may take years for home prices to recover.  Some paying homeowners with good credit, have bought new homes, moved and simple stopped paying on the first home.  Hence the term buy and bail. The people who do this give up their good credit to get out from under a devalued property.                 

    I recently visited a newly foreclosed home on behalf of the bank, to determine if the home was occupied. I met the former homeowner to arrange for the family to move out.  The neighborhood was one quarter built out and the rest of the lots were overgrown with pipes sticking out.  The homes were large and attractive.  The buildier had gone out of business and at least one third of the new homes were foreclosed and for sale ast substantially reduced prices.  The man I spoke to told me he had paid $344,900 for his house and the same plan a few doors down just closed for $280,000.  He had to move for his job and could not sell his house.  He could not afford to pay for a home he did not live in and felt he had no choice. He had good credit and was able to buy in his destination city before he stopped making payments on the home he was leaving.                   

    While this is wrong on so many levels, this trend is part of the new reality.  BUY AND BAIL. Not recommended.

    leslie  edwards                                                                                     

    sells real estate                                                             770.460.9448                                                                             RE/MAX Around Atlanta

    Guard Your Metal

    by Leslie Edwards

    As long as I have been selling real estate, I never, until late last year, heard of people stealing  metal to sell to the recyclers.  I have had air conditioners stolen and wiring and copper pipes stripped from homes I was selling. 

    Late last year I was marketing a foreclosed property on 5 acres with a huge, way bigger than the house, metal outbuilding.  One day the man who had the property under contract called in a panic because he bought the property because of the huge building and demanded to know why was it being torn down? 

    We contacted the police who went over there and arrested three men who were attempting to dismantle the entire building to sell the metal to scrap metal dealers.

    I saw this article about copper and it reminded me about that transaction and that I should warn homeowners about this new trend in crime.  Remember to guard your metal.

    Copper Is Like Gold These Days

    With copper at more than $4 per pound, thanks to demand in Asia, home owners should guard the metal like it was gold.

    "You would never leave gold sitting out in the yard," says OneBeacon Insurance Group executive Charlie Sidoti, who estimates a 300 percent increase in claims of copper theft in the past 18 months.

    Homes sitting empty are easy targets. Sidoti recommends installing fences, motion-detector lights and security cameras to discourage thieves from ripping out air conditioner coils, plumbing, rain gutters, sprinklers and bronze lawn ornaments.

    Meanwhile, 35 states have pending or signed legislation requiring people selling metal to show identification to scrap dealers.

    Source: Time Rebecca Winters Keegan (06/23/2008)

    If you want to talk real estate, call me at 770.460.9448 or email leslie@leslieedwards.com

    leslie edwards     sells real estate     RE/MAX Around Atlanta

    30 Years  Experience Isn't Expensive ......  It's Priceless

    GAY MARRIAGE

    by Leslie Edwards

    The California Supreme Court rule this week that same sex couples are entitled to marry.  While those in favor of the ruling are rejoicing across the country in hopes acceptance will spread across the country, some very vocal opponents to the ruling are making themselves heard on television, in papers, on the internet and on talk radio. 

    This is a tricky subject for me to comment on but I really do have strong opinions about the subject.

    As a product of the 60's, I have been blessed to know and appreciate people from all walks of life and I am often embarrassed by the way we Americans treat people who are different from us. The main thing I have learned over the years is that when you know someone personally, they stop being black, foreign, gay or whatever makes them different from me.  I stop seeing differences and see only the person. 

    What I don't understand about the gay marriage issue is why do people care so much if a gay couple gets married?  It does not affect my life at all. 

    I heard someone on a news program say that this ruling would destroy marriage as we know it.  The concept of marriage is already in shambles and it has nothing to do with gay people.  With over 50% of all marriages ending in divorce, marriage has become a tough sell for millions of people who decide not to ever marry and for divorced people who choose to never marry again. If gay people want to marry, I say let them.   

    Marriage is an antiquated concept that sets people up to fail.  Two people make a lifetime committment "til death do us part" when the reality is that the chances of staying with one person for a lifetime get slimmer all the time. 

      If we could embrace the reality, people whose marriages end would not have to feel like failures. It would be more healthy and better for everyone involved if  they could appreciate the best parts of the relationship without the bitterness.  Hopefully we learn from every relationship to make us better fbetter people.

    There are, of course, many hetrosexual couples who enjoy successful, lifelong marriages, but they are fewer than ever before.

    There are legal and practical reasons for same sex couples to marry including being the next of kin in an emergency, health insurance, inheritance, adoption, etc.  There is also the desire to make a formal committment to each other in front of family and friends, to make a family, to have a big wedding.

    Several of my gay couple friends have been together for over twenty years and are committed for life, which is more than I can say for most of my straight couple friends.  If marriage makes gay people feel more connected, I say why not?

    The US is far behind much of the world in their level of acceptance for gays and minorities.  I think is long past time to be more accepting and inclusive of others who are different from us.

    So, I go on record as in favor of gay couples being allowed to marry.  To all my gay guy couple friends, keep me in mind for the wedding party.  Bridesmaid?

    leslie edwards                                                                                                                                                 sells real estate to anyone who is buying regardless of race, color, religion or sexual orientation.

    Call 770.460.9448 if you or anyone you know wants to buy, sell or talk real estate.               RE/MAX Around Atlanta  Serving South Metro Atlanta                                                                               30 years experience is not expensive, it's priceless

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    If you hear of anyone who wants to buy or sell in any of these areas, please mention me and then call me so I can contact them. I appreciate your referrals!