Real Estate Corner…

 Q.  I’m Thinking About Getting A Home Improvement Loan. 
How Should I Go About The Process? 

 A.  You have two options.  You can either get a home equity loan or a home equity line of credit.  Both are secured by a lien against your home.  Each has their advantages and disadvantages.


A home equity loan gives you a set amount of money up front and then allows you to pay it back in a set monthly amount.  It’s frequently organized like a typical loan payment plan.  Usually, lenders will let you borrow up to 85 percent of the appraised value of your home minus the amount of the unpaid mortgage.  The interest rates on this type of loan are some of the lowest rates available and the interest you pay is tax-deductible.

On the other hand, a home equity line of credit allows you to draw upon a pre-approved loan only when you need the money.  Then, you only make payments when there is an outstanding balance.  You can often access this line of credit using either a check from that account or a special credit card. 

One of the downfalls of the line of credit is that it may have a set amount of time you are allowed to draw upon the available funds.  If your home improvements exceed the time limit, you will need to be sure you can either get an extension or another line of credit.  Some of these plans also have a deadline when all of the money must be repaid in full.  Both of these aspects limit the time flexibility for your home improvements to be completed.  


If you need advice regarding what type of home equity loan to get, or to get pre-approved for a home loan, go to http://www.firstoklahomabank.com/prslend.html.

Visit houselogic.com for more articles like this.

Copyright 2012 NATIONAL ASSOCIATION OF REALTORS®

Real Estate Corner…


       Q.     How Much Can I Afford To Pay For A New Home?


       A.     When you’re interested in purchasing a home, the mortgage company or your REALTOR® will usually determine the amount you can afford by using one of two formulas. 



      The Payment to Income Ratio is a fairly simple formula.  It adds your future mortgage payment, property taxes and insurance together to get what is called a “PITI” payment.  This amount is divided by your total household income to produce a percentage.  Most loan companies consider anything under 28 percent an acceptable ratio and the loan is granted. 



      The Debt to Income Ratio is not as simple.  It not only adds the PITI payment, but all monthly payments.  This includes auto loans, credit card payments, investment payments, and other fixed monthly bills.  The acceptable percentage using this method is usually higher than the standard 28 percent, but varies by lender. 



      The easiest way to figure out what you can afford is to figure out your Payment to Income Ratio using a monthly payment that produces a final percentage slightly under 28 percent of your income.  Then using a loan amortization chart, which can be obtained from your REALTOR®, you can identify the appropriate price range for your future home.  Of course, the overall price range is also affected by the amount of your down payment, current interest rates, and the term of the loan. 



      Most REALTORS® work with mortgage companies and offer professional consultation to help you determine how much you are qualified to purchase. 


If you are considering buying a home in the near future,
are looking for competent and caring representation,
please call me at 405-820-1740.


Clutter



Once your home is on the market, it is, for all practical purposes, no longer your own. It’s important to de-personalize your space so prospective buyers can picture themselves in the home and not be distracted by your belongings.


Pack up personal photo frames, trophies, knick-knacks, books and your personal decorations like children’s artwork and team posters. The goal is to strike a balance of inviting and uncluttered. If you wouldn’t find it in a model home, go ahead and pack it up.


Remember, less is more. Get rid of extra magazines, candies, refrigerator magnets, blankets thrown over the couch, and any other items that are temporary decorations.


If you want to clear away the clutter and get honest, reliable advice on today’s housing market, call me. I specialize in marketing & staging homes and I welcome the opportunity to handle all your real estate needs.


Web: www:RhondasRealEstate.com

Cell: 405-820-1740

Real Estate Corner…


      Q.    We Are Considering Purchasing A Home And Are Uneasy About The Negotiation Process.  Can You Help?

       A.     The goal of a positive real estate negotiation is to result in a win-win agreement.  This is an agreement where both the seller and buyer feel they have received an equitable deal. 


      Here are a few simple tips to help ensure that you negotiate fairly. 


  • First, make sure that you offer a fair price.  Nothing turns a seller off faster than a “low-ball” offer.  Likewise, don’t get into negotiations on a grossly overpriced home.  This can leave you feeling taken advantage of and exhausted.  Both the asking price and your offer should be based on current and factual comparable sales in the area. 
 

  • Second, always respect the priorities of your counterpart.  Try to identify the other side’s motivations.  Then, examine your own.  If some items prove to be a sticking point in negotiations, offer to meet half way.  This may require you to pay half of some expenses or modify your closing date, but in the end you will feel as if you have fairly compromised.  If you have addendums to your main agreement, it may be helpful to solidify the purchase agreement and then deal with the addendums later.


  • Finally, using a third party on your behalf will keep you focused and emotionally disconnected—resulting in a much better outcome.  Look for a CNE ~ Certified Negotiation Expert. I’ve made the art of successful negotiation the cornerstone of my business.  I work hard to understand the needs of both the seller and the buyer in the transaction, and can put these years of experience to work for you. 

If you are thinking of selling or buying soon,
be sure to interview your Real Estate Professional...
how do they overcome objections,
how do they negotiate.

If I can assist you further, please call me at 405-820-1740.

Important Tips For Buying Disability Insurance


Are you insured in the event you become disabled?  Many Americans don’t have disability coverage because they don’t feel that they need the insurance.  Ask yourself if you could afford to support yourself and loved ones if you were out of work for a long period due to illness or injury.  Strangely enough, many of us carry life insurance policies to protect our families in case of death, but decline disability coverage.  For younger workers, it’s more likely you will be injured than it is that you will die.  It also is more likely that you will be hurt away from your job than on the job and that you will become disabled due to disease than to an injury. 



When considering long-term disability insurance there are several things you should keep in mind.  The first item is that most automatic disability coverage given by the majority of employers is not enough to sustain you during an injury.  You will probably need to purchase additional coverage.  If you carry only your company’s insurance, you may lose your right to appeal a denied claim.  This is because the insurance company works for your employer, not for you.  So your individual rights may be limited.  You also need to find out if the benefits you receive will be taxable income.  Most company policy benefits are taxable, but some individual policies are exempt. 
 


When purchasing individual coverage, look for a policy that will provide you with the best coverage and the least number of restrictions.  Most policies are fairly specific about what is covered and what is not.  The rates for coverage often are calculated based on your age and sex.  For example, a middle age female can expect to pay slightly more than her male counterpart does.



When shopping for a policy, use a licensed agent who is approved to work with several insurance agencies.  This will provide you with a broader range of options.  Individual policies that are not regulated by the Employee Retirement Income Security Act (ERISA) give you greater flexibility and safeguards to protect yourself. 


If you can afford it, be sure that your policy is based on your overall ability to do your specific job.  Avoid policies that provide benefits only if you become totally disabled.  And, be sure that your policy is not written such that if you can perform even a portion of your job, your benefits will be reduced.  Your best bet is to purchase a total disability policy. 

Look for a policy that covers both physical and psychological disabilities.  Also, make sure your policy waives your premium during any period of disability.  Most policies have only a short waiting period to get started and the benefits should be applicable for your entire lifetime.  If they do not last for your entire lifetime, aim for an age when you know that you will be getting another income such as Social Security or a pension. Be sure that your coverage is guaranteed as long as you pay your premiums.  If possible ask for a cost of living increase to be written into the policy.  It will be worth it if you find yourself disabled.


Purchasing a long-term disability policy is a good idea for most working adults.  Disability insurance not only offers you peace of mind, it’ll go a long way to support you and your family if the unforeseen strikes.

Real Estate Corner…


      Q.    We want to purchase a home but fear that our poor credit will prevent us from getting financing.  How can we repair our credit?

A.     Initially, you need to obtain a copy of your credit report and contact your creditors.  You will need to explain your current situation and offer to pay a percentage of your outstanding bill. 


Often creditors will settle for 30-40 percent of the total bill.  Once you have made your partial settlement payment, get them to issue you a signed settlement letter.  Copies of these letters will need to be sent to all of the credit bureaus (Equifax, Trans Union, and Experian/TRW).  In the eyes of a lender, this is a better method of rectifying your credit than setting up a payment plan though a consumer counseling service.  By resolving your own credit problems using the partial payment approach, it demonstrates to lenders your ability to be a responsible credit user.  In addition to avoiding the consumer counseling services, you should also avoid filing bankruptcy if at all possible.  This act will stay on your credit for a period of 10 years.  One of the only ways to redeem yourself in the eyes of a lender after filing bankruptcy is to get secured credit cards.  These are prepaid credit accounts that allow you to demonstrate your ability to spend wisely.

When looking for a mortgage after credit problems, look to mortgage brokers.  They are often able to offer you greater options than mainstream lenders.  Just because you have credit issues, don’t expect that you will be stuck with higher interest rates.  Some lenders can offer you great options.  Once you have begun to repair your credit history, it is imperative that you make payments on time.  Lenders who give you a second chance will not be a lenient with borrowers who have a history of credit problems.  It becomes your responsibility to prove to the lenders that you are capable of controlling your credit future.

If you are thinking of selling or buying soon, and require competent and caring representation,
feel free to call me at 405-820-1740 or email me at: rhonda@rhondasrealestate.com.

Today...

Today...before you say an unkind word...
 
Think of someone who can't speak.
 
Today...before you complain about the taste of your food...
 
Think of someone who has nothing to eat.
 
Today...before you complain about your husband or wife...
 
Think of someone who’s crying out to GOD for a companion.
 
Today...before you complain about life...
 
Think of someone who went too early to heaven.
 
Today...before you complain about your children...
 
Think of someone who desires children but they are barren.
 
Today...before you argue about your dirty house someone didn’t clean or sweep...
 
Think of the people who are living in the streets...
 
Today...before whining about the distance you drive...
 
Think of someone who walks the same distance with their feet.
 
And when you are tired and complain about your job...
 
Think of the unemployed, the disabled, and those who wish they had your job.
 
But before you think of pointing the finger or condemning another...
 
Remember that not one of us is without sin and we all answer to one MAKER!
 
And when depressing thoughts seem to get you down...
 
Put a smile on your face and thank GOD you’re alive!
 
Just a reminder to not take our lives and the ones we love for granted.
 
 

Don't Sell Me...

I get calls...and emails all the time from someone trying to sell me on some new marketing, whether online or paper material. Those on the hard sell that don't listen to me...I've been known to hang up on when they talk over me.


So...knowing I don't want to be sold...and a line I've used many times...I want to share how I believe people want to be approached:


1. Don't sell me...Help Me!

If you need someone to sell you...go to a salesman who talks you into something because that's not me...I'm here to help you so you make decisions for yourself.

2. Don't close me...Advise Me!

If you need someone to quote you a good script to close you on something...you again want to speak with a salesman...I'm here to advise you, inform you, and help you form your own opinion.

3. Don't push me...Encourage Me!

If you need someone to push you because you struggle making decisions...I'm not the one for you either...I'm here to encourage you to gain knowledge and understanding so you can create your future.


Here's to your future!
To find out more: www.rhondasrealestate.com


Rhonda's 2012 Blessings...









....no, make that 11!



·         Blessed are the confident for they shall have an unshakable belief in themselves based on a realistic understanding of their circumstances; a trait that most people admire in others and strive to acquire themselves.



·         Blessed are the curious for they shall be eager to know, learn, and grow; always showing interest and giving special attention to the less obvious; always being the person who says “I want to know more about…”



·         Blessed are those who are decisive, for they shall arrive at a final conclusion or make a choice and take action; making decisions with determination even when they don’t have all the information they think they need.



·         Blessed are those who are empathetic, for they shall demonstrate care and understanding of someone else’s situation, feelings, and motives; always thinking about what it’s like to walk in someone else’s shoes.



·         Blessed are the flexible for they shall not be bent out of shape, nor be rigid and unable to change with life; responding positively to change; being pliable, adaptable, and able to deal with ambiguity.





·         Blessed are those who love humor, for they shall not take themselves or life too seriously; viewing themselves and the world with enjoyment; being amused, and at times, even comical!



·        Blessed are the intelligent, for they shall think and work smarter and cleverly; being sharp in their dealings; “not reinventing the wheel”: planning before acting; working efficiently and focusing on quality over quantity.



·         Blessed are the optimistic, for they shall expect the best possible outcome; dwelling on the most hopeful or positive aspects of a situation; believing that the glass is half full rather than half empty.



·         Blessed are those who display perseverance, for they shall have passion, energy, focus and the desire to get results; always staying motivated, persistent in their hard work.



·        Blessed are the respectful, for they shall remember that it is just as easy to be nice; protecting another person's self-esteem; treating others in a considerate and courteous manner.



·        Blessed are the self-aware, for they shall display a sophisticated form of consciousness that enables them to regulate themselves by monitoring, observing, and changing their thought processes and behaviors. 


5 tips to stay on top of home maintenance


Where to find reliable contractors

By Dian Hymer
Inman News®


Share This
 
You're not alone if your roof is leaking and you're kicking yourself for not having called a roofer during the summer months. Most people have a limited concept of preventative maintenance. This can lead to big problems that end up being more expensive than if you had routine maintenance in place.

Many buyers don't understand that home maintenance goes with homeownership. When you rent, someone else usually pays for repairs. As a homeowner, you're responsible for keeping your home in good condition.

Unless you're handy at home repairs, it can be costly to maintain a home properly. But there is a benefit at the end of the line. Buyers pay more for homes that are well-maintained and show a pride of ownership.

It can be a hassle to properly maintain your home unless you organize and prioritize the projects that need to be done. You also need to set a schedule and stick to it.

Most home maintenance can be done annually: roof maintenance (including gutters and downspouts); sealing exterior cracks; weatherproofing; a furnace and air conditioning inspection; and inspecting and cleaning the drainage system.

Mark these events on your calendar so that they can be scheduled for about a month before you'd like to have the work done. If you wait until just before the rainy season to start your annual maintenance, you could have trouble finding good contractors to help you.

Don't wait until your roof is leaking to repair or replace it. There will be collateral damage to the interior of the house. Your homeowners insurance company might pay to repair the interior damage, less the amount of your deductible, but it won't pay to replace the roof. Too many claims could be grounds for not renewing your policy.

HOUSE HUNTING TIP: Assemble a crew of contractors and tradespeople who can help you with your home maintenance. It's not always easy to find reliable people who do good work. You'll end up frustrated and having to do more oversight if you work with people who don't show up or do the job right.

Ask your real estate agent or acquaintances who own homes in the area to recommend tradespeople to you. If the seller is happy with people who have worked on the property, ask for a list of names and contact information when you close the sale.

Homeowners who haven't the time or expertise to determine what needs to be done to keep their home in good shape could ask the home inspector that inspected the house for them to do a reinspection periodically to point out areas that need attention.

One of the keys to good home maintenance is to take care of critical items as soon as they become apparent. For instance, don't postpone repairing a plumbing pipe leak. Have it repaired as soon as you notice it.

Don't assume that because your house is new that you won't have any maintenance issues. If the gutters back up on any house, even a new house, water can leak into the house or down the inside of the walls. This, left unchecked, can lead to a major repair to the framing. If repaired right away, you may just need to seal and touch up the paint.

Likewise, even though you just had the exterior painted, you still may have areas that will need touch up every year or so, especially if they receive intense sun exposure.

THE CLOSING: Don't go for the cheapest contractor or building materials just to save money. If an inferior-quality job has to be redone sooner than anticipated, your savings will dwindle.

Dian Hymer, a real estate broker with more than 30 years' experience, is a nationally syndicated real estate columnist and author of "House Hunting: The Take-Along Workbook for Home Buyers" and "Starting Out, The Complete Home Buyer's Guide."

On Time or Early...or Always Late


Do you know the one reason people arrive late? They leave late. What I mean is; it is not the traffic, it is not the directions, it is not the last minute phone call, it is simply that they left late. In my experience most people arrive for business appointments late.

Being late tells me a few things about people:

They don't respect my time;
They are disorganized;
They are not someone I can rely on to keep a commitment.

Perfect example:

Several years ago a client of mine, who I won't name names, Doc, showed up 15 minutes early. He was sitting on the porch of the home we were about to view. I had to look at my watch to make sure I was on time because this had not happened to me. I was really put off since I thought the seller would have been offended by someone sitting on their porch...fortunately that was not the case.

As not to be "late" again...and as the joke would have it between us later...I showed up at our next time to view homes 30 minutes early! Oh the shock and joy on his face knowing I would not be outdone!

I have always been one to be on time or early since it upsets my whole day. How do you come across?  Are you always late? Giving the impression that no one is important enough or you are more important than they? If so, let it be the "you" of the past.

Are you disorganized? Never able to find things when you need them? If so, let it be the "you" of the past.

Are you someone who doesn't make commitments because you know you will not be able to live up to them?  If so, let it be the "you" of the past.

Let this be the New Year that you make the commitment to show others that you value their time. Let this be the year you are able to stick with a resolution that means something to others, respect for others...as well as yourself...your time...your organization...your commitments!


~HAPPY NEW YEAR 2012!~