Don't Believe the Good News?

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Recently there was an article on the web I ran across entitled "Housing sales up? Why that is bad news"

After reading this article I realized this is all part of the problem we all are in today. Negativity sells and is front page news, positivity is in the "E" section of the paper. Housing sales were up at twice the pace as last year at this time! Twice! This is bad news?

Here's the take on the article. The sales that have been happening predominately are foreclosures. They are discounted 30-40-50% and sometimes more of the value they once were. Some say this means nothing to the "real housing market" you and I live in. The foreclosures drive our prices down and cost us money. True. The values of all of our houses have dropped dramatically. The stock market quip is "my 401k is now a 201k". The economy is in a tail spin and we need to work hard and save hard to get through it.

Here's my positive spin for the eternal optimist I like to think I am. All of these foreclosures being sold create activity. They create money. Most often the homes that are sold by a bank need work. Real work. This includes plumbing, electrical, furnace, paint, carpet, roofing, siding, you get the picture. Now all these people fixing these homes purchase supplies from the local stores and hardware store. They use gas getting to and from the job sites. They have their coffee, and doughnut at the local store. They come back for lunch and have a burger, etc.

These hard working people also have kids like I do. Hockey, baseball, swimming, tennis, movies, and so on. Families take money to survive, and the money being made on these foreclosures is being put back into the economy just as fast as it was earned. This money flowing into the economy will eventually affect the job you are in right now. Whatever your company does, at some point will gain new sales from the new money flowing.

Look on the positive side. Foreclosures may be hurting your property values right now, but they also may be the answer to turning your 201k back into the 401k we all remember gazing at dreaming of early retirement it was so fat!

The next time someone says "yeah, but look at how the foreclosures are killing our economy", remind them of the positive side. The foreclosures are also turning our economy around!

-Joe Koltes 10/29/08

Types of Carpet

CARPET CARPET CARPET!

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When people are looking for carpet, there is much confusion about style and pile they say. This aims to help clear up all the different styles and types.

Cut Pile

The best-selling type of carpet is textured cut pile. Cutting looped carpet fibers at the top creates cut pile with yarn bundles standing straight. Preshearing cut pile several times creates a luxurious appearance. Cut pile is less resistant to crushing than other types of carpet.

• Saxony

Saxony's are tightly twisted cut piles that are heatset straight. Saxony's consist of two or more fibers twisted together in a yarn. They provide a soft texture for formal and informal areas. Saxonies show every footprint and vacuum-cleaner mark. These carpets have medium durability.

• Texture and Textured Saxonies

Textures are the best-selling carpets and work well in informal areas (such as family rooms and children's bedrooms) because of its soft feel. Textures are tightly twisted and texture heatset for medium durability. They have a multi-colored look that disguises tracks and footprints.

• Velvet/Plush

Velvets/Plushes are lightly twisted and have a uniform color. They are softer and more level than textures. This type of carpet is ideal for formal areas (such as formal living rooms and master bedrooms) because of its luxurious appearance. Velvets/Plushes show every footprint and vacuum-cleaner mark.

• Frieze

Frieze is a highly twisted cut pile carpet suited for high traffic, informal areas. It has short fibers that tend to curl in different directions at the surface to hide footprints and vacuum marks.

Cut and Loop Pile

Cut and loop pile combines cut and looped fibers. It provides a variety of surface textures or sculptured effects for medium durability. Cut and loop pile carpets are available in solid or multiple colors. The different levels in this type of carpet can hide dirt and footprints in formal and informal areas.

Level Loop Pile

Level loop pile is made by weaving even loops of yarn into carpet backing at both ends. This type of carpet is very durable and track resistant because of its strong loops. Higher loops create a more luxurious appearance. Level loop piles with short and densely packed loops are easy to clean. They prevent dirt from filtering into carpet. This type of carpet is ideal for high traffic areas.

• Berber

Berbers are increasing in popularity faster than any other type of carpet. Berbers limit footprints and vacuum tracks in informal areas. Berbers can have thicker yarns than other level loop pile carpets for high durability. These loops can retain dirt and may be damaged from snags. Berbers come in expensive wool fibers or less expensive nylon, olefin, or nylon-olefin fibers.

Multi-Level Loop Pile

Multi-level loop pile is like level loop pile except that the loop heights vary (usually two to three different loop heights). This carpet creates an appearance of random texture. This type of carpet is good for high traffic areas but the smaller loops can sometimes hold more dirt.

Fed Drops Rates by .50 to 1.5%

SURPRISE RATE CUT:

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Federal Reserve cuts rates by 0.50%

This morning the Federal Reserve responded to the current credit crisis by lowering the federal funds rate to 1.50%.

The Federal Reserve meets again October 28th & 29th. Will they continue to lower rates? And what does this mean for you?

GOOD NEWS in an uncertain economy
Mortgage rates are low, starting at 5.25% (5.47% APR)*
Lenders are still lending millions of dollars each day
Larger banks have over 200 trustworthy lenders on their network
Larger banks like Wells Fargo will beat the national average interest rate*

For a new loan or Refinance go to http://www.go2joe.com and click on "mortgage"

In times like these, it's important to smile and help others to do the same!

Selling your Home

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20 Tips for Selling Your Home
As a homeowner, you can play an important part in the timely sale of your property. When you take the following steps, you’ll help your RE/MAX Sales Associate sell your home faster, at the best possible price.

The easiest and most reliable way to improve the appeal of your home is to enlist a quality home service professional. The right professional can help you get everything in order - from repainting the kitchen to providing a thorough cleaning - so you can stay focused on more important things.

1. Make the Most of that First Impression
   A well-manicured lawn, neatly trimmed shrubs and a clutter-free porch welcome prospects. So does a freshly painted – or at least freshly scrubbed – front door. If it’s autumn, rake the leaves. If it’s winter, shovel the walkways. The fewer obstacles between prospects and the true appeal of your home, the better.
2. Invest a Few Hours for Future Dividends
   Here’s your chance to clean up in real estate. Clean up the living room, the bathroom, the kitchen. If your woodwork is scuffed or the paint is fading, consider some minor redecoration. Fresh wallpaper adds charm and value to your property. If you’re worried about time, hire professional cleaners or painters to get your house ready. Remember, prospects would rather see how great your home really looks than hear how great it could look "with a little work."
3. Check Faucets and Bulbs
   Dripping water rattles the nerves, discolors sinks, and suggests faulty or worn-out plumbing. Burned out bulbs or faulty wiring leave prospects in the dark. Don’t let little problems detract from what’s right with your home.
4. Don’t Shut Out a Sale
   If cabinets or closet doors stick in your home, you can be sure they will also stick in a prospect’s mind. Don’t try to explain away sticky situations when you can easily plane them away. A little effort on your part can smooth the way toward a closing.
5. Think Safety
   Homeowners learn to live with all kinds of self-set booby traps: roller skates on the stairs, festooned extension cords, slippery throw rugs and low hanging overhead lights. Make your residence as non-perilous as possible for uninitiated visitors.
6. Make Room for Space
   Remember, potential buyers are looking for more than just comfortable living space. They’re looking for storage space, too. Make sure your attic and basement are clean and free of unnecessary items.
7. Consider Your Closets
   The better organized a closet, the larger it appears. Now’s the time to box up those unwanted clothes and donate them to charity.
8. Make Your Bathroom Sparkle
   Bathrooms sell homes, so let them shine. Check and repair damaged or unsightly caulking in the tubs and showers. For added allure, display your best towels, mats, and shower curtains.
9. Create Dream Bedrooms
   Wake up prospects to the cozy comforts of your bedrooms. For a spacious look, get rid of excess furniture. Colorful bedspreads and fresh curtains are a must.
10. Open up in the Daytime
    Let the sun shine in! Pull back your curtains and drapes so prospects can see how bright and cheery your home is.
11. Lighten up at Night
    Turn on the excitement by turning on all your lights - both inside and outside - when showing your home in the evening. Lights add color and warmth, and make prospects feel welcome.
12. Avoid Crowd Scenes
    Potential buyers often feel like intruders when they enter a home filled with people. Rather than giving your house the attention it deserves, they're likely to hurry through. Keep the company present to a minimum.
13. Watch Your Pets
    Dogs and cats are great companions, but not when you're showing your home. Pets have a talent for getting underfoot. So do everybody a favor: Keep Kitty and Spot outside, or at least out of the way.
14. Think Volume
    Rock-and-roll will never die. But it might kill a real estate transaction. When it's time to show your home, it's time to turn down the stereo or TV.
15. Relax
    Be friendly, but don't try to force conversation. Prospects want to view your home with a minimum of distraction.
16. Don't Apologize
    No matter how humble your abode, never apologize for its shortcomings. If a prospect volunteers a derogatory comment about your home's appearance, let your experienced RE/MAX Associate handle the situation.
17. Keep a Low Profile
    Nobody knows your home as well as you do. But RE/MAX Sales Associates know buyers - what they need and what they want. Your RE/MAX Associate will have an easier time articulating the virtues of your home if you stay in the background.
18. Don't Turn Your Home into a Second-Hand Store
    When prospects come to view your home, don't distract them with offers to sell those furnishings you no longer need. You may lose the biggest sale of all.
19. Defer to Experience
    When prospects want to talk price, terms, or other real estate matters, let them speak to an expert - your RE/MAX Sales Associate.
20. Help Your Agent
    Your RE/MAX Associate will have an easier time selling your home if showings are scheduled through his or her office. You'll appreciate the results!

First Time Homebuyers

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First-time Buyers
Whether you have spent years saving and preparing to buy a home, or you still aren't sure if it is something you can even dream of, the questions surrounding a first-time home purchase can feel endless.

You can find the answers – and peace of mind – by working with RE/MAX, the industry leader in experience and service.

Here are some tips to help you with the process of becoming your own landlord.

Being prequalified for a loan determines how much house you can afford. It also allows you to move more swiftly when you find the right house, especially when you aren't the only interested buyer.

Shop for mortgage rates and terms
A difference of even half a percentage point can make a huge difference in how much you pay over the life of a loan. For example, the difference in the monthly payment on a $100,000 mortgage at 8 percent vs. 7.5 percent is about $35 per month. Over 30 years, that's $12,600.

Using a buyer agent
A buyer agent is legally responsible for representing the buyer's interest in a real estate transaction. Generally, the buyer agent is compensated by the seller at the time you purchase a new home. There are some limitations to using a buyer agent, however. Before you decide, have a Realtor explain the advantages and disadvantages of using a buyer agent.

Features that help or hurt resale value
In some areas, a swimming pool actually detracts from a home's value and makes the home harder to sell. In neighborhoods with two-car, attached garages, a single-car or detached garage may impact the home sale and future value. Your Realtor can point out features that hurt, as well as those that help, resale value.

Rate the houses you tour
After touring each home, write down what you liked and didn't like. Develop a rating system which will help you narrow the field down to the house that's the best for you.

Purchasing a foreclosure!

8 Steps to Purchasing a Foreclosure!
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Preface:

GET PRE APPROVED! Shopping for foreclosures is an enjoyable venture. The idea of purchasing a property for thousands of dollars under market value is exciting. What often happens, however, is that buyers will find the right property, at the right price, but will NOT have prepared the right way. Rarely will a bank entertain an offer from someone not PRE- APPROVED. Speak to a banker before starting the home hunting process. It will gain you thousands in the end.

1.) LOCATING FORECLOSURES: There are several ways to find a foreclosure.
a.) COUNTY RECORDERS OFFICE Go to the local Court House and inquire with recorders office, or the county clerk. Ask them about any defaults that have been reported in the area of interest to you. If it has been reported, generally they will help you out.
b.) FSBO (For Sale By Owner) Look at for sale signs posted at properties. This generally means the seller needs the most out of the house and may be nearing a foreclosure. Even if they are not, you still may be able to strike a deal!
c.) VACANT HOMES This is a good indication owners have abandoned the home. You can determine whom the owner is by cross referencing the property tax records at the county courthouse, or simply ask the neighbors.
d.) PRE-FORECLOSURE LIST Check with a local broker, or REALTOR. Generally there is someone in most all real estate offices that specialize in foreclosures.
e.) LEGAL NOTICE Most defaults are posted in the local paper. These usually come out once a week. Use this information to get started.

2.)DETERMINING VALUE Determining the value of the property will consist of several factors.

• COMPARABLES: Compare similar homes in the neighborhood that have SOLD. A property listed for any dollar amount means nothing when determining value. If it has closed within the last 6 months and is similar to the subject property, it is ok to use this.
  
• DOM: Days on the market. If a home has been on the market for 485 days and has not sold, this will be a sign that it may be overpriced and should be reflected in your offer.
  
• DEMOGRAPHICS: Also school district, crime statistics, shopping, bus route, and any other amenities are helpful in determining value.

3.)DETERMINE YOUR GOALS You should establish your goals. Is this purchase for your personal use, or for your family to live in? Is this property a long term investment to hold and rent? Is this a short term "flip". All of these need to be considered. This will help weed out the prospects for whatever your reasons are for purchasing.

4.)HIRE AN INSPECTOR Every home that has ever been built has (what I call) "fluff". It looks great, the layout is great, but in reality it creeks and crumbles from faulty construction, maintenance, climate, etc. Hire a professional inspector that will look past the "fluff" and tell you what is in the "guts" of the house. How is the roof, foundation, siding, ventilation, furnace, water heater, plumbing, electrical, heating. All the important things that the next buyer will inquire about. Paint, carpet, and other "fluff" can be fixed fairly cheap. A new roof? Not so cheap!

5.)REPAIRS, COSTS, FUTURE VALUE When you have narrowed your search down to a handful of property's it is crucial to assess what each home needs down to the last doorknob. For example if you added you repairs, and compared to your future value and came up with $30,000 profit, that's exciting! If something unexpected pops up like the seals in all the windows are shot and all windows need replacing totaling $25,000, there goes all the profit. Your lack of diligence in the inspection process, or the calculation of how bad the windows are, cost you a lot of profit. Determine values carefully! Property by property. Use spreadsheets, and detailed lists to help you keep yourself organized. Have a great repairman, or handyman on hand. Someone you can trust that will help to determine the actual cost of bringing the property up to move in condition a buyer will be sure to purchase. Exact costing is critical to you success. Also just as crucial is the future value of the property when completed. This can be done by searching county records for recent sales. This is in combination with step #2 above. Be diligent in your valuation methods. Do not use "blue sky" what the market may be doing in 6 months or next year. What would the house sell for today, or 2 months. Markets turn quickly. Whatever value is determined be conservative. Do not "blue sky" yourself into thinking you're going to get rich quick on this flip. Be conservative, be cautious, and be consistent in your valuation. If you need help, consult a local REALTOR. They will be of great service to you!

6.)WORKING WITH THE HOMEOWNER If the homeowner is still involved and you are negotiating with them, be respectful, professional, and a good listener. If the home is worth purchasing often times with pride on the line, if the homeowner is treated like he or she is being forced out, they may decide to let it go to the bank and not make a deal. If you are cordial, and professional the likelihood of a positive outcome is much greater!

7.)WORKING WITH THE BANK This is where things may get a little more complicated. If there is little or no equity in the home, and the homeowner does not have the money to cover a "shortage" meaning the home is worth less than is owed, a bank may entertain what is called a "short sale". As current maket conditions become tougher and tougher to sell for what the sellers owe, banks are considering more and more short sales. How short they will go is up to each individual bank. The problem with negotiating a deal with the bank is the lack of emotion. Banks make decisions based on "bottom line" profits or losses. There is no emotion as if a seller was involved. In any case acting professionally, and cordially, will always render better results.

8.)CLOSING YOUR HOME This is just as important as all the other steps. Without the proper transfer of ownership, this can be more costly than new windows. Find a reputable title company in the area and hire them. Title insurance is important to protect you from any encumbrance on the property. This could include the neighbors fence on your lot, a play set over the lot line, title transfer was not proper 20 years prior when the home was built. Most often an encumbrance can be cured, but without a title company halping you along, it can get quite costly representing yourself.

Conclusion

Investing in real estate is an exciting, yet complicated venture. As long as you remain diligent in your search, valuation, and negotiation, success will be the end result! Avoid quick "flips" or "sure things". As the old adage goes, if it seems to good to be true, it most likely is!
For a free list visit http://www.nw4closures.com

go2joe first blog!

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Some time ago my wife and I were looking for someone to stain our new deck. I had woked my tail off on it and wanted it to look great! I asked around friends and family and nobody could come up with somebody to refer me to. I looked in a local paper and answered an ad "Great painting, great rates."

Me of course being raised very conservative "cheap" my friends would say, wanted a great deal. I remember my dad teaching me to be frugal, not wasteful! I still contend I'm frugal. Nonetheless my painter showed up and did the job. My wife had picked out a wonderful color; a very light shade of grey that would accent our home to a tee. It was a perfect weekend as we left for her folks place and enjoyed the weekend on Lake O'brien. I had finished the deck and we would leave it to the painter to put on the finishing touches.

Arriving at home late in the afternoon on Sunday, we noticed the neighbors in the yard hangin' out laughing uncontrollably. We thought nothing of it as we had a great neighborhood full of kids and laughter! We were excited to see our new deck. We turned the corner and looked in horror as our new deck was the most hideous color of "battleship gray" we had ever seen!

We of course called the painter and after several arguments, he repainted the deck with the color we originally picked. We were finally happy, but it took several weeks and conversations to get there! This was a life lesson we would never forget. Get a referral, and do not hire the "cheap guy!"

I have personally been involved in new construction for over 18 years. I have run into some of the best people working in the field you could ever find. It has always been my thought to create a site where the public could go to to find the skilled hard working guy that goes unnoticed.

Which brings me to my new site http://www.go2joe.com dedicated to all the people I trust, and would highly recommend to anybody looking for a highly skilled professional, at a very reasonable price. There are 4 simple yet important, qualities of everyone listed on this site. Professional, hardworking, honest, and their service will come at a fair price.

Thank you for visiting our site, and using the highly skilled workers on it.