Housing Help

My Trees Are Worth What?

2009-01-22T22:17:00.000-08:00

Maybe you've seen the show "My House Is Worth What?" Well, how about this question, "My landscape is worth what?" Many sellers have no idea what the value of their landscape is, yet they've spent a lot of cash and sweat labor developing it.

Whether you're the seller or the buyer, knowing the value of a property's landscape can help you. It can create a real bargaining chip in real estate transactions.

How do you find out the value? Don't suppose you saved every single receipt for every tree or shrub you planted?

I interviewed Neil Sexton from Horticultural Asset Management, Inc. Hear his tips about how getting full landscaping reports can help you protect your home, increase its value, and make sure you're properly insured.

Click here to hear how money really does grow on trees.

Foreclosures Create New Business

2009-01-06T14:19:00.000-08:00

It's not much of a silver lining but the upsurge in foreclosures is creating new buisness for some. It seems that new companies that are targeting foreclosed properties and promoting services that Take Out the Trash (a metaphorical phrase I use in my book to clear mental garbage) are rapidly springing up.

They are referred to as Trash-Out businesses and searching the Internet reveals hundreds of them. These companies clean and often maintain vacant homes.

It's estimated that it can cost thousands of dollars to clean up a foreclosed property. However, we all know, that figure can quickly inflate if the damage is severe. And with more than 575,000 loans that went into the foreclosure process in the third quarter of 2008, that can translate into a lot of business for clean-up companies.

It seems Taking Out the Trash, both physical and mental, can be a smart business opportunity.

Interested in clearing your mental clutter and making room for treasures? Click and read: Are You Buried Beneath Trash?

Short Sale Success: Knowing is Best

2008-12-11T20:35:00.001-08:00

If you're considering a short sale the best thing you can do is get as much information as you can before you begin the process. Short sales can be a lengthy process and if you don't know what you're doing it can be exceedingly frustrating. So, with that in mind, here are a few helpful resources to get you started. These are excellent links with valuable information. Click away!

Sold Up Short: How to Succeed at Short Sales by Mariwyn Evans.

Warning! You Gotta Know When to Fold Em... by Mildred Wilkins.

Short Sales by Ron Walker.

Rescue Sellers with Short Sales by Richard Westlund.

Learn More About Foreclosures

2008-09-10T09:31:00.000-07:00

There's a whole lot of information on the Internet about a growing epidemic: foreclosures. Whether you're looking for advice because you're facing foreclosure or you're looking to buy a foreclosure, knowledge is the best way to protect your financial future.

Homescape.com offers a wealth of information for consumers. Be sure to click the link below to check out their series on "How to Buy a Foreclosure Home". I wrote a series of four articles for the publication but you can only read them at the link below.

Read more about foreclosures here.

Hottest Places For Singles To Live!

2008-09-05T19:11:00.000-07:00

Okay, if you're single pay close attention. Forbes has come out with its list of Best Cities For Singles. My hometown, San Diego, was on the Top 10 List in previous years but it has fallen to number 20. The following cities make the top 10 list because of fun-filled nightlife, a fairly high number of singles in the city, and pretty good job growth. You decide if that's the case!

1. Atlanta
2. San Francisco
3. Dallas
4. Minneapolis
5. Washington, D.C.
6. Seattle
7. Boston
8. New York City
9. Orlando
10.Phoenix

Avoid Foreclosure Fumble

2008-08-10T18:32:00.000-07:00

It’s not a subject that most of us want to think about. But hundreds of thousands of people are living in fear of a foreclosure fumble.

As a real estate writer, I find this a painful subject to write about. However, it’s one that needs to continuously be addressed because so many are living in a worried state. The thought of losing your home can send a million different emotions racing through your brain. This is when you need to slow down, go to a quiet place, and carefully think through your options. Yes, options. You do have them.

First, even before you call the lender, look at your financial situation. How far behind are you in your payments? What can you do to reduce your spending? Can you sell a car? Can you sell items of value in your home? Can you get money from outside unexpected sources? For instance, some companies are offering low-interest loans to their employees to help them through the tough times. Can you rent out a room? Can you rent out the entire house?

The idea here is to brainstorm for viable solutions that won’t have you simply walking away from your home. A foreclosure is a devastating mark on your credit despite what some newly-emerged companies might say. Typically these companies also will tell desperate homeowners that they can help them out of their financial woes for a fee. Not all but some unsavory companies then take the money and run without even providing any help or ever contacting the homeowner’s lender to negotiate a settlement.

Here is an option if you need to get out. Try a short sale. Selling your home to a third-party for less than the amount owed is an option. The lender must agree to the sale and typically forgives/cancels any remaining debt not paid by the new buyer. This can be a good alternative to a foreclosure. However, you should know that there is a chance you will face a Deficiency Judgment (and taxes) later on. The IRS looks at the debt that the lender forgave as income to you! Therefore it’s taxable.

If you are considering a short sale, consult tax experts, experienced Realtors, and lawyers to ensure you understand the process and how you will be affected financially.

The Mortgage Forgiveness Debt Relief Act may also be of help to you. Read more about it on the Federal Housing Administration site. http://www.irs.gov/individuals/article/0,,id=179414,00.html