Storm Lake Iowa Free Home Buyer Seminar

Now is a great time to start getting ready to buy or sell. We're having  free Buyer Educational Seminars in March, they'll be offered in both English and Spanish. We plan to have one of educational seminars at least 4 times a year. We will also be holding Free Seller Educational Seminars. Follow the link to get more information.From the number of Buyers we have looking I would say our market is ahead of schedule, by about a month and a half.


Storm Lake IA - 3 New Listings and All Ranch Homes

Looking for a ranch home in Storm Lake Iowa, if so we have 3 coming, their prices range from just below $90,000 to just below $140,000. All are very nice solid homes, 2 have wonderful park like back yards, 2 have basements and all are priced to sell. If you think you may be interested contact Weaver Realtors to be scheduled to see these on the day they list. Properties are selling fast and ranch homes are very desirable especially in these neighborhoods and price ranges. Call me Georgia Weaver 712-291-0118 if you are interested.
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Less is More Interior Design COming Into It's Own Even in Storm Lake Iowa

According to Troy Beasley, of Beasley & Henley Interior Design in Winter Park, Fla. "People want the less cluttered look people see in magazines." as reported in by Jean Patteson in RISMEDIA June 25th, 2010. Even in rural Storm Lake Iowa we are seeing this reducing trend, people have always had problems seeing their things or themselves in someones space if the space wasn't pared down.

As a REALTOR I usually recommend sellers remove at least 30% of their things and sometimes 50% depending on the home. Homes are much easier to sell if they are sparsely furnished and staged prior to any pictures and any showings. Personally, I always feel 10 pounds lighter after purging closets of items I have never worn or will never wear again. I try to go through books, Christmas decorations, linens, cooking items, furniture, you name it at least annually. We almost all have too much stuff, and my mind set is if I haven't used it, worn it, looked at it, or read it within the last 12 months, someone else probably needs it more than I do. Go on my website http://www.weaverrealtors.com/ to find more information on how to get a property ready to sell.Powered by FeedBurner


Storm Lake Iowa MLS - Homes Selling in Record Time

Another Storm Lake MLS home sells in 1 day! 413 Prospect Street is a great home, 4-5 bedrooms, hardwood floors, quiet neighborhood, fenced back yard, landscaped with flowers and trees and low taxes. Looking in Storm Lake Iowa for a home for sale or looking for a home for sale in Alta Iowa - have your financing complete and be ready to go see new listing as soon as you see them come on the Storm lake MLS. Better yet call me and I will call you as soon as a new homes is listed for sale in Storm Lake or Alta Iowa.
Call Georgia Weaver 712-291-0118 or email me your home buying criteria and I will put it into an automated search and both the search and I will notify you of any new home listing on the Storm Lake MLS as soon as they go on the real estate market.

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Storm Lake MLS - Another Homes Sold in Record Time

Storm Lake MLS is experiencing some fast home sales. The home for sale at 802 Main Street in Alta sold in 13 days. This home has 3 bedrooms, new kitchen, updated roof, new furnace, updated wiring, plumbing, corner lot and hardwood floors! Location is great, one block from the middle and grade schools - 3 blocks from the high school. One the block across from the city park. A lot of diasppointed buyers on this new home sale. Call Georgia Weaver to see all properties listed on the Storm Lake MLS.

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Alta Iowa Home Sold in 1 Day

Buyers for homes in Storm Lake Iowa and Alta Iowa need to be on their toes homes are selling in record time. Call to be added to an automated property search to make sure you are one of the first buyers to see a new home listed. The home located at 602 Prospect in Alta has 4 bedroom, 3 bath, hardwood floors, new kitchen, new bathrooms, new family room, corner lot, located 1 block from the city park, 2 blocks from the middle and grade school and 2 blocks from the high school. Call Georgia Weaver to see homes for sale in Storm Lake Iowa or Alta Iowa. Weaver Realtors is a member of the Storm lake MLS and we show all listings. Our services are available in both Spanish and English.

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Storm Lake Iowa Homes For Sale

The Storm Lake Iowa real estate market is still going strong, we are experiencing a lot of home sales and many new home listings. The Alta Iowa real estate market is also very strong with many homes for sale and selling very fast.
Contact Georgia Weaver or Angelica Lozano to see any property listed on the Storm Lake MLS. We can also put your home buying criteria into an automated home search, this is a great tool to make sure you are one of the first buyers to see a new home listed for sale in Storm Lake Iowa or an Alta Iowa home for sale.
Our services are offered in both English and Spanish.

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Check out the NEW SIGN

Our new sign and we love it - Dan Waitt from Commercial Sign and Design designed it, made it and installed it.
You are awesome Dan!
Come by and see Angelica Lozano and me we will be open for business on MONDAY March 1st!

Weaver Realtors Your Storm Lake Real Estate Service Provider

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Judge In Real Estate? Who Pays For Him to Run This RE Business and His Secretary to Collect Rents and Represent Him? The Tax Payer?

A very troubling article on REALTOR Magazine's website.

Apparently  a judge in Philadelphia, a Willis W. Berry Jr. has been able to avoid prosecution for running a real estate business out of his chambers because the DA declined to prosecute.  Apparently Berry has been suspended and asked to resign but has declined.

Who exactly pays Berry; isn't it the tax payers, I don't think they are paying him to do real estate? And who pays for him to have a secretary, yep I think it is again taxpayers and I am sure the Pennsylvania taxpayers don't pay to have this person manage the judges real estate.

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Interested in Investing in Real Estate? Check out Lease Purchase, A Very Viable Option!

Want to invest in real estate, but strapped for cash? This article by James Kimmons He is a master of explaining the process and exit strategy. This is a very viable option especially today with so many properties in trouble.

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Citigroup Shows Some Compassion - At Least Until New Years

Citigroup suspends foreclosure evictions and foreclosure notices for 30 days on approximately 4000 customers. read the whole story here
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FHA and Tighter Lending Standards Could Negatively Impact The Storm Lake Iowa Real Estate Market

The FHA is looking into changing some of its lending standards for FHA backed loans in an effort to reduce the number of defaults and limit the risk to the FHA portfolia.  Some of these changes will include the amount of down payment required (currently set at 3.5%) and credit score a buyer will need, what percent of the closing costs the Sellers is allowed to pay and an increase in the annual mortgage insurance premium.  This is bad news for a lot of first time homebuyers. The FHA has become an important option for home buyers, insuring almost 30% of home purchases—more than 75% of which are to first-time home buyers—20% of mortgage refinancings. Just three years ago, the FHA’s share of the mortgage market was 3%. Read the full story by clicking on the link above.

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Congratulations Joan Ballantyne on Receiving the L. Martin Lee Political Involvement Award

Joan Ballantyne Congratulations on Receiving the L. Martin Lee Political Involvement Award

According to the IOWA REALTOR BENCHMARK, Joan Ballantyne was awarded the L. Martin Political Involvement Award at the Convention by L. Martin Lee himself. The article mentions Joan's extensive service to the Association in the local, state and national levels. I would personally like to thank Joan for all her work and advice as a member of the United Counties Board of Realtors. Joan is a resource for issues and provides ideas and answers to relatively new Broker Owners like myself and to seasoned ones alike.

Joan, discovering your wisdom, your way with people and your understandings of how things work was a well spring and encouragement for me personally as a Broker Owner and Realtor. I can't speak for the entire board but I am in debt to you and admire your ability and wisdom in dealing with people, helping organizations function to the benefit of all members and to your willingness to step up and step in and to stay the course in the storms.

Thank you Joan


Georgia A. Weaver

Broker Owner

Weaver LLC Realtors

113 Main St., Suite 3

Alta, Iowa 51002

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Storm Lake Multiple Listing Service Market Report Year to Date

12/7/09 Storm Lake and Alta Homes For Sale!

Market Snapshot - Year To Date

Single Family Residential in Storm Lake and Alta

Total Available - 266

Sold - 159

Active - 107

Days on Market (DOM) - time from first listed until closed

and %L/SP (Percentage of Listing Price Received)

0 -31 days    31-60 days    61-90 days    91-120 days    120+ days

  40                 32                     22                17                    48

25.16%        20.13%           13.84%         10.69%           30.19%

96.63%LP  95.92%LP   96.29%LP         93.9%LP       94.42%LP

A big take away is that there are a number of properties available for sale, 107 today with Alta and Storm Lake addresses. Just over 25% sell within the first 31 days and at only 3.37% less than listed price. However if the property goes over 120 days (and over 30% stay on the market more than 4 months) it will bring nearly 6% less than listed price PLUS have an additional 3 months in mortgage payment, taxes, utilities and maintenance costs added to the cost.

Example - A List at 100,000

Sells and closes in 30 days at $99,630

A's Owner pays one months mortgage, utilites, taxes, insurance and maintenance (lets say $1,200)

TOTAL Received - $98,430

Example - B Lists at 100,000

Sells and closes at 122 days at $94,420

B's Owner pays 3 additional months of mortgage, utitities, taxes, insurance and maintenance (lets say $3,600)

TOTAL Received - $90,800

A CMA (competitive market analysis) is a vital tool when you want to sell, we do them for both Sellers and Buyers. The CMA tells us the range the property should sell in according the the previous 12 months real estate market. It also tells buyers where they should begin to offer on a property.

Call Me Today To See How I Can Make a Difference For YOU!

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Storm Lake Iowa Homes For Sale Newsletter - Check It Out

Interested in Storm Lake Iowa homes for sale, or maybe Alta Iowa homes for sale?Check out the new Lake Area Real Estate Newsletter.
All the local real estate market data. Information and a chart for reference to the new 09 Home Buyer Tax Credit, a little information about our new company, a great recipe to help use up all that left over turkey, why we stage every home to some degree, all those letters behind my name, and what it is like being a realtor.
Send me some input if you get a chance to read it. Just click on the link at the right top of the page, "November NewsLetter".
Front page top right side

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Great New 2009 Tax Credit Reference Chart - Storm Lake and Alta Iowa Homes For Sale

Know someone who is looking to buy or sell - follow the link to the tax credit reference chart oput out by the National Association of Realtors.

It is a good chart to have handy if you are looking to sell or buy, are a Realtor, banker, parent of kids looking to buy or parents looking to sell.

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Storm Lake Iowa Homes For Sale Through New Brokerage

Brand new real estate brokerage now open in the Storm Lake MLS area. Want more information - call Georgia Weaver the owner of Weaver LLC Realtors. Pilot Tribune newspaper covering our new brokerage, the services we offer, our philosophy on doing business and the Top 10 Reasons You Need to List Your Properties With US.

If you need real estate services please consider us, we are experienced, ethical, and posess great marketing and negotiaion skills. Our business is not like any other in the Storm Lake MLS area, call us to experience a very refreshing difference.


New Real Estate Brokerage Opening October 29th - Alta Iowa

It is finally done, I go to state tomorrow with my Associate Broker's license and come back a Broker Owner! I am excited and very thnakful to all of you who encouraged me and believe in me. You know who you are, I will be forever in your debt. And I would also like to thank my previous broker Joe Aube, for being great about this decision and for creating an environment that encouraged me to be what I needed to be.
Expected office opening date is October 29th, 2009
Office Location is in ALTA!
My biggest goal, of course, is customer service like has never been experienced in this area. Stay tuned :)

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Storm Lake IA MLS Weekly Real Estate Market Report


Storm Lake MLS

Market Statistics -10/7/09

Storm Lake
Available Residential Properties - 67 homes

Properties with offers -6

Sold in last 30 days - 8 homes

Available Residential Properties -16 homes

Properties with Offers - 0

Sold in last 30 days -6

Storm Lake Iowa and Alta Iowa properties are

listing and selling, our market is very strong. Information taken from the Storm LakeMLS.

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New Storm Lake MLS Market Report

Storm Lake MLS
Market Statistics - 9/30/09

Storm Lake
Available Residential Properties - 60 homes
Properties with offers - 20
Sold in last 30 days - 8 homes

Available Residential Properties - 10 homes
Properties with Offers - 1
Sold in last 30 days - 5

Storm Lake and Alta real estate especially homes are listing and selling, waiting till "the market improves" DOES NOT APPLY to our market. I have a great investor property for a first time home or for someone who can do some improving for $54,000 on Main Street in Alta!

A personal note, I am not just a Realtor, my husband and I are real estate investors too and we are buying property, we just sold an investment property to a first time home buyer (Congratulations Ali on getting into your first home and qualifying for the tax credit).

Information taken from the Storm Lake MLS.

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Weekly Storm Lake Iowa MLS Market Report

Storm Lake MLS
Market Statistics - 9/23/09

Storm Lake
Available Residential Properties - 61 homes
Properties with offers - 9
Sold in last 30 days - 15 homes

Available Residential Properties - 15 homes
Properties with Offers - 2
Sold in last 30 days - 8

Storm Lake and Alta properties are listing and selling, waiting till "the market improves" DOES NOT APPLY to our market. Personally as a real estate investor, I am buying and selling. 4 Closings this month so far, I have 5 scheduled!

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Town Allowing Sidewalks to be Removed - What's Your Opinion?

Alta is allowing property owners to remove sidewalks in town. No sidewalks is a problem if you are handicapped, I think it could lead to some accessibility problems for the city when it comes to their streets and the ADA. Limited accessibility is usually seen as a negative for people looking to move to an area; right now Alta has a strong real estate market when the rest of the nation is struggling.
No sidewalks is a big problem, we are in northwest Iowa, we get a lot of snow and many children still walk to school. What about the very small children who ride on toys in front of homes, where are they suppose to go - the street? Groups of women walk for exercise in the early evening, older couples walk in the mornings, walking in the street is not safe at any age. Remember last winter's ice, I do, my car hit another because it wouldn't stop and no I was not speeding. When I got out I nearly fell down because the street was so icy. I hope to be talking to the Alta City Council October 5th about this, if you have an opinion please comment or come to the meeting.
Thank you


New Credit Score Rules

FICO 08 are the new guidelines that refer to the new credit scoring. Already, 2 of the reporting agencies, Equifax and Trans Union have started using the new reporting.

The impact of the changes for someone with good credit could be a slight increase in score, if you have some problems your score could drop. Small collections under $100do not count on your score, and some late payments will not hurt you as much if you have other accounts that are current. Like the old system a lot of late payments will drop your score.
As a Realtor I see a lot of credit scores that need work, the way to keep your score in good shape, check your reports at least once a year and twice is best. Pay all bills at least on time and at best early. Do not carry a lot of debt, if you can't pay off a credit card DON'T use credit until you can. Inability to pay off credit cards monthly is a big red flag that you are living over your means and when you do that you are headed for trouble.
Watch for a change in your credit card billing the end of February 2010, and already in effect banks can not give you less than 45 days notice if your interest rates are to change and all credit card statements must be mailed to you at least 21 days before your payment is due.

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Tax Credit Raised to $15,000 Proposed

Tax Credit Raised to $15,000 with out limits!! Proposed
Posted: Thursday, September 17, 2009 - 64 comment(s) [ Comment ] - 0 trackback(s) [ Trackback ]
Category: BrokerAgentSocial.com
There is legislation in both the Senate and the House that would expand the tax credit. A proposal by Sen. Johnny Isakson, R-Ga., would raise the credit amount to a maximum of $15,000 for any buyer of any home over the next year. It would remove the income caps that currently apply (those limits are now $75,000 for an individual and $150,000 on couples).

"I think we've got a realistic chance of doing this," Isakson says. "Our problem is not with the first-time home buyer, it's the move-up buyer."

Lawrence Yun, chief economist at NAR, says extending or raising the tax credit would spur the housing recovery, which in turn would help bolster the economy.

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The Internet Strategist

This is a great article on how to use social media. Check it out!

The Internet Strategist

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Another Storm Lake, Iowa Rural Property for Sale

6275 170th Avenue, Storm Lake, Iowa is a nice rural property with a 3 bedroom older home, lots of mature trees, fruit trees, perennial flowers, large outdoor entertaining space, a number of out buildings including a large barn with 3 separate areas (2 have concrete flooring and one has pea gravel). Check out the video of the home.
It is not too late to qualify for the first time home buyers tax credit, call me to take a look at this rural home.

This property is located in the Storm Lake Iowa area, just off Highway 7. Storm Lake Iowa is a great area that has a destination part, King's Pointe, a recreational lake, shopping, http://www.bvu.edu/, Buena Vista Regional Hospital, The Pilot Tribune newspaper and the Storm Lake Times Newspaper, a community calendar

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New Listing - Acreage in Alta Iowa

All of you out there who want to live in the country you need to see this gem. The bungalow has 3 bedrooms, an open floor plan, stone fireplace, huge deck, wooded lot and as a bonus it has a 50 by 50 barn. Check out the video http://www.georgiaweaver.com/ then call me, it won't be available long at $88.500! This home was moved to the site 14 years ago, at that time a new foundation was built, all the wiring, and plumbing was updated. A new roof was done 6-7 years ago. plumbing

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718 Main Street Alta, Iowa - New Listing

Checkout the new listing in ALta - GREAT Location close to both schools, some updates and lots of charm! Call, text or email me to see this one! 712-574-5426.

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Storm Lake, Iowa - Star Spangled Spectacular

Hundreds of people converged on the parks, enjoyed the parade, food,fun and fireworks in Storm Lake, Iowa over the 4th of July. Lots of visitors came home with their families to experience a little taste of hometown. I saw people from Alta, Cherokee, Newell, Aurelia, Schaller, Spencer and a lot of out of state vehicles.
Veterans were front and center in the parade and standing applause was given to each parade entry featuring the military. A new group interestingly named the TEA Party (Taxed Enough Already)had an entry. The TEA party consists of people protesting the massive spending programs started by the Obama whitehouse. Several links to them: Tax Day Tea Party and Societism.org
Summer is finally here, heat, sun and wind. Oh well, it could be winter. Thanks for checking out the update. Check back a new market report is coming, and news on closing costs and loan fee transparancy.
Have a good week!!!

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New Septic System Ruling Delay Vetoed by Governor


The governor vetoed a one year delay in the implementation of the septic tank inspection law. As of July 1 THIS YEAR, all septic tanks, unless exempt, will be required to be inspected and not present an unsanitary condition prior to the county allowing or recording transfer of title.

Alert your sellers and buyers on this new requirement!

If a property closes after June 30, this regulation will be effective.

Any questions may be directed to:
Mr.. Daniel Olson, R.S.
Environmental Specialist Senior
Onsite Wastewater Program
Iowa Dept. of Natural Resources
502 E. 9th Street
Des Moines, Iowa 50319-0034

fax: 515-281-9985

E-mail: daniel.olson@dnr.iowa.gov

Key provisions of the code (IA Code section 455B.172) ---

Certified inspection report must be filed with the county, or in the event weather or other temporary conditions prevent inspection, buyer must bind themselves to conduct an inspection at a practical time and be responsible for any required modifications to the septic system.
Know exempt properties, most of the type of transfers exempt under the property disclosure law are also exempt for the inspection law, including court ordered transfers, foreclosures, bank repossessions, estates, guardianships, conservatorship and trusts, joint tenants or tenants in common, intra-family transfers, between divorcing individuals, and properties intended to be demolished or razed.
If the owner can provide documentation of the tank being properly pumped within three (3) years prior to inspection by a commercial septic tank cleaner licensed by the DNR, as long as it includes the size, condition and its components- it would be exempt from inspection.
If the tank is failing or improperly functioning, it shall be renovated to meet current construction standards. the costs and responsibility shall be paid by either the seller, or within a time frame set by the county or DNR, the buyer.
If, after inspection, the system is found to be properly treating wastewater and not creating an unsanitary condition, the system is not required to meet current construction standards.
An inspection is valid for two (2) years for any ownership transfers during that period. Abstracts for properties with septic tanks shall include documentation of the requirements of this law.

Link to the Iowa Code
http://coolice.legis.state.ia.us/Cool-ICE/default.asp?Category=BillInfo&Service=Billbook&ga=82&menu=text&hbill=SF261 Detailed administrative rules enacted by the DNR -

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First Time Home Buyers

Are you a first time home buyer; if you are you have a limited time to take advantage of the up to $8,000 tax credit. A lot of misunderstandings are out there concerning this program, here are the facts:
1) You need an Adjusted Gross Income (AGI) of less than $150,000 - how do you know that? If your combined income (spouse and you) is less than $150,000 you qualify it your combined income is over $150,000 call your tax advisor, they will know!

2) Have you and your spouse owner a home in the past 36 months?

3) Do you plan to stay in residence for at least 3 years?

If you answer yes to all the above questions, now is the time to buy!

Why should you buy now other than to take advantage of the up to $8,000 tax credit?
Interest rates are lower than they have been for the last 50 years.
Many homes are on the market - a lot of very good deals out there!
You've heard buy low and sell high - well it's the same for real estate, in many areas inventory is up and prices are down. Many good buys are available, in our area. You may qualify for up to $8,000 in tax credit - that's just icing.

How does the tax credit work - a tax credit is not a tax deduction. This specific tax credit does not reduce income that is subject to tax - that is a tax deduction, it is a dollar for dollar reduction in tax liability. An example of how these differ is an $8,000 tax deduction would result in a $2,240 tax savings for a 28 percent taxpayer. But, an $8,000 tax credit would result in $8,000 in tax savings for the same 28percent taxpayer.
Still have questions, please call me 712-574-5426 and I will walk you through it. Now is not the time to sit on the fence if you qualify for this tax credit, it is scheduled to be gone on December 1, 2009. That means you have to have the property closed by that date.
source Pat Zaby, CRS, CCIM, speaker at 2009 IAR Annual Convention. www.patzaby.com

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105 Peterson Street - New Listing in Alta Iowa

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Check out this beautiful large home in Alta, construction is nearly complete on this 4 bedroom 2 and a half bath home. If you are a first time home buyer call me to see if you can take advantage of the new Tax Credit, this home also has a tax abatement for 2 years, high efficiency furnace and energy star appliances. The master suite is on the main level as is the laundry, the additional 3 bedrooms are on the second floor. A new deck is located just off the large living room and is very handy for entertaining. The home has a warm open and feeling and it is wonderfully designed for either a family or a single who entertains.
Call me Georgia Weaver at 712-574-5426 to see this home or email me at Georgia@SLRealtyCheck.com

Selling Your Home? See the Top 5 Wants Consumers Have in Kitchens

The kitchen is the heart of the home and many people are looking for open spaces that can be used for entertaining and cooking. How does your home compare with the top 5 items consumers want?

#1 Walk-in Pantry - 86%

#2 Kitchen Island - 80%

#3 Built-in Microwave - 72%
#4 Drinking Water Filtration - 69%

#5 Special Use Storage (custom-made for appliances) - 66%

If you are thinking of remodeling your kitchen keep these items in mind, especially #'s 1-3 for the Alta and Storm Lake Iowa area. I am working with a couple of new construction homes and we are working hard to get most consumers wants incorporated into the plans. We also look at a color scheme that evokes warmth and homey feelings. The kitchen and the bathrooms are the most expensive areas of your home to remodel so it pays to get it right the first time. If you are not buying or building new and would like some ideas give me a call, I do remodel properties and assist in staging homes prior to putting them on the market.

The keys to a desirable kitchen are ease of use, good quality cabinetry, flooring, appliances, counter tops, adequate storage, and a presentation of the space that allows the buyer to "see" themselves in the space cooking and entertaining.

Selling Your Home? See the Top 5 Wants Consumers Have in a Bathroom

Top 5 Bathroom Features Consumers Want Today

#1 - Linen Closet - 89%

#2 - Exhaust Fan - 88%

#3 and #4 - Separate Shower Enclosure and Water Temperature Control - 79%

#5 Wirlpool Tub - 66%

How does your house stack up; if you have any questions or are thinking about adding some of these items call me to see if it will halp you sell and what percentage you can expect to recoup from the project. Georgia Weaver 712-574-5426.

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Friends Helping Friends

Saturday we all got together to help the Pedersend put the first coat of mud on their basement drywall. Below are some pictures, somehow Joyce and Ronnie didn't get in any of the pictures. Oh well, we are going to be back over tonight, the camera will be ready!

Involved are Bred and Cindy Pedersen, Joyce Rydstrom, John Hase, Matt Younie, Gary Launderville, Ronnie Weaver and Georgia Weaver. Friends helping friends is such a wonderful thing, it makes any work go faster and easier. Not to mention the cookies that always seem to appear.


New Income Property For Sale in Storm Lake, Iowa

Check out my new listing, commercial property located on Lake Ave. in Storm Lake, Iowa. Great income and an increase in income potential is very real. Established reatil store on main level, 2 apartments on second level, and a full basement. The second level could be expanded into 3 possibly 4 apartments for an increase in income. Go to http://www.slrealtycheck.com/listings.html to see it as a featured property. Call me for a tour and for additional information. 712-574-5426.

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Stimulus Package the Answer? Not by a long shot!

Powered by FeedBurnerIs anyone else out there concerned that we (Americans) are rewarding unscrupulous business practices. We are paying to keep banks afloat that simply made very poor, greed motivated loans to thousands of consumers that also made very poor greed motivated decisions? Not to mention the Golden parachutes or the other upper management compensation packages the average Joe is paying for.
I don't think the American public (Tax Payers) should be bailing out banks - depositor's yes, but the owners of the banks who are in a big part responsible for this mess, no. Let the banks fail, the depositor's can get their money through the FDIC. If these poorly managed and obviously poorly or not at all supervised banks fail - guess what - there will be new business opportunities for new banks to form. Hopefully, the "new" banks will have learned from the current banks mistakes and greed. I believe the banks that perpetrated these bad loans and didn't check borrowers credentials should go under, if we reward them and keep the in business, it will happen again. In fact, take a look back in history when a lot of savings and loans did fail, what was that the 70's? What is going to happen to those who didn't make bad greed based decisions - they will pay for the others who did. How, higher interest rates for home mortgages, higher taxes, inflation - sounds a little like socialism to me.
I may be mistaken but I always thought the strength of our country was in part based on the fact that competition made businesses and our economy stronger and benefited the consumer.
The auto industry is another HUGE failure, why did it take the Toyota Prius to get the the American auto makers off their butts. I guess I am suppose to believe that our auto makers aren't as smart or innovative as the auto makers in other countries, Or maybe it has something to do with ties to big oil. I know we have and have had for some time the ability to produce autos that get great gas mileage, are less expensive, are better for the environment and run on various fuels or are electric. Why should I pay to help a dinosaur stay in business when that dinosaur has already demonstrated it is not committed to be a viable business and industry? It pays to know history, if we ignore history all we will do is repeat it until the Great Country of America utterly fails. I say the Great Country of America with a lot of reverence, I love our country but it breaks my heart and really makes me angry to see the mass destruction and decay that has occurred just in my short life time.

National Association of Realtors Site - Tax Credit Chart

Interested in the NAR's take on the First-Time Home buyers Tax Credit, click the title to go to the chart that includes current changes. Many home buyers will qualify, if you purchased a home after April 9, 2008 check out the terms to see if you qualify for the credit.


Do You Know Your Mortgage Terms? 1 in 4 don't!

Home owners are getting better at understanding mortgage terms, but according to a GfK Roper random survey of homeowners and others, 26% still don't know if they have a fixed rate, ARM or other kind of home mortgage. Still, the numbers are better than last year where 34% didn't know.
What kind do you have; are you sure?

I recently helped a client who wanted to purchase a duplex, the client insisted on using a particular lender because the lender "took care of everything last time", and they had already talked to this lender and the lender had told them this new property would be no problem.
I like to shop my buyer's good faith estimates around to our local financial institutions just making sure they get the best deal. Why, because as the survey above points out, people don't get mortgages often, they don't understand terms, and additionally as a Realtor I believe it is a service I can and should provide. The mortgage on the previous duplex had some red flags, the payment didn't match the "terms" the client said they had (payment amount too low to pay off the loan in the stated time period, loan was a fixed rate).
They brought the mortgage documents in to my office and guess what - it has a balloon! They were not happy, and once they understood they were barely paying on the principle they started looking for a local lender to refinance. But, they had obviously signed the documents- so what happened. Had they just forgotten; I don't think so but it is possible. What is more probable however is that they were intimidated by the jargon and the paperwork and just signed and initialed where they were told to.

Maybe you should pull out that paperwork and take a good look at it again, and if you are thinking about buying go on line and learn, learn, learn. Also, ask a person who should be very familiar with the various mortgage products and programs - your Realtor.

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