Do you have a plan? 

I have been told over and over that I need to plan, unless I plan to fail.  This is important advice in all aspects of your life.  You have to plan your family time, business time, and personal time.  If you do not then usually you do not get to have any personal time.  Most of us realize that we need to plan, but who has time?

Not planning has its consequences.  Mostly these consequences just mean more stress in your life, but when it comes to selling your home, it can cost you thousands.  If you fail to plan the sale of your home many surprises can pop up.  Planning the sales process can also include planning for improvements or repairs. Planning the timeline is import, as well what will you do if the home sells early.

Let's start with a quick sale.  This seems like a great problem to have, however if you're not prepared it can be costly.  Let's use this example.

Home comes on the market and the seller expects it to take 4-6 months to sell.  The family is transferring to Dallas Texas in 6 months.  After two weeks on the market they receive an offer, but need to close in 30 days.  The sellers are not sure where they will  live so they ask for a closing date after 90 days.  The result:  The buyer's leave to find another house.  No other offers come in and after 6 months the sellers have lowervered the price of their home by $40,000.  The seller's husband transfers to Dallas for the job, and the family is now living in two locations.

This can happen and does happen every year.  Sellers need to prepare for every contingency.  Do you know what your local rental market is doing? 

Plan on a home inspection; most buyers will get one and a Home Inspector will always find something.  I suggest getting a pre-inspection.  Find the deficiencies and fix them before you offer your home for sale.  If you can make these repairs on your time, it will typically cost you less money.  The end result is a home in better repair that may sell for more.

Cosmetic repairs are a good idea.  Take a good look at you walls and trim work.  Do they need to washed, or touched up with paint?  These little marks have accumulated over the years and you may not even notice them.  I know it take several trips through a house before I notice ever little mark.  When a buyer walks through a house they may not mention everything they see.  They may not even take notice of many items.  However they will compare condition to other homes, and the home in the best condition will most often win out.

By planning and then taking care of these most often little fixes, you eliminate much of the stress associated with selling a home.  Be prepared, plan and your sale will most likely be successful. 

A good Realtor can assist you in this process and provide you with good adice along the way.

For much of the country it is still fall, and in some parts the eternal summer blazes on.  Here in Alaska fall has been gone for at least a month. Winter was not roaring in, but it did last night and appears that it may return again tomorrow with an additional 4 inches of snow.

Now winter is here it is time to stop selling real estate, close the office and hibernate until spring.  See ya next spring!

Wait! Now I'm sounding like the national talking heads when their talking about the economy.  No one should buy anything the economy is in the toilet.  Please hold my hand because I think life as we know it is over.

Come on give me a break.  The economy took a hit and it has come back steady. It's not roaring but its chugging right along.  So is the housing market; just because we have some snow and winter is settling in is no reason to hibernate until spring.  Interest rates are at an all time low.  You can get a great home in this market.  There are some great deals and there are some great home that you will have to pay the asking price.

Now is a great time to buy a home, just be careful as you walk up the steps.  And if you're thing about selling, inventory levels are low, put your home out there and get it sold. 

By the way, make sure you shovel the sidewalk and please turn on all the lights.

Can you believe everything people tell you?  Of course not, and I can her my Dad right now, "If your friends jumped off a cliff, would you jump off a cliff?"  No, and I still believe in this very valuable advice.

Last week I was enjoying my morning coffee while watching some of the national cable news programs.  Wow, they do a great job creating a very entertaining show. The topic was the mortgage crisis, and they were talking about the foreclosures and that the investigations were underway.  Foreclosures had been halted in all 50 States and we would be lucky if we ever saw another good loan.  It was bad, they made the housing industry sound terrible.

I started to wonder if we would be selling homes next week.  Then this week they have another gentleman on came to say they had it all wrong. The host was very suspect of his statements.  The guest speaker went on to say that there was a tremendous amount of misinformation being tossed about as fact.  Well guess what?

He was right.  I did a little research to clear my mind and to be able to answer questions from friends and clients that wanted to know what was what.  There seems there were cases that people were wrongfully foreclosed on, but this is the exception not the rule.  There was also the issue of title being lost in the shuffle as Wall Street made all this money.  I am referring to the Securitization of loans.  They mentioned on the show that if the security was traded that the title history could not be tracked.  This turns out to be a bunch of fear mongering. 

The M.E.R.S., Mortgage Electronic Registration System is used to tract mortage backed securities.  the 14 digit number that tracts the loan package is recorded as an assignment at the local Recorder's office.  This number keeps track of the Title history.  There is no problem.

The news channels are selling advertising, so they make the story interesting.  Kind of like Dr. Seuss made kid stories interesting.

If you need help decerning fact from fiction please give me a call.  Eric Bushnell 907-360-7471

What should I do?  Is the market ok? Interest rates are really low, should I refinance?

Theses are questions that people ask every time I go out.  The answer varies and is not that simple.  Interest rates are really low, but if you think you will be moving in the next year, then the cost of refinancing is not offset by the lowered payments.  You should speak with an accountant if you are unsure of the true costs.  Sometime the banker giving you money is not looking out for your long term interest.  They entice you with the lower payment and roll the closing costs and appraisal fees into your new loan.  This just raises the payoff on your home and you will have wasted this money if you will be selling in the near future. 

I define the near future as less than two years.  Some loans may charge you a slightly higher interest rate to compensate for the fees and not raise the loan amount.  This might be a better route if you know you will be selling, that is if it lowers your monthly payment.  Also if you've paid 4 years on your loan don't just go into a new 30 year.  set the amortization at 26 years and see what the difference in payment is, why pay interest for an additional 4 years if you do not have to.

Now might be a great time to move up or down into the right sized house.  There are great opportunities on the market.  In our area we will see more properties coming on the market and the perfect home for you might be among them.  There will be more foreclosures.  There is a shadow inventory in our area and it will be coming on the market this winter.  Foreclosures do sell for less than a nice home, you may be able to get a good buy.

You might look at an investment property.  Rentals are in high demand.The stock market is not doing all that well, low returns and lots of uncertainties.  Maybe its time to invest in real estate.  Rates are low and prices are down.  If this is something you might want to do please call me to discuss being a landlord.  It is not for everybody.  You must be disciplined and reinvest your returns into your property or save for that big repair.  It is not a matter of if you will need money for your rental, but when.

I get a lot of questions about real estate and I love to answer them.  Real Estate is local, you should talk with a local expert.

Call me if you would like to talk, 907-360-7471.

Anchorage, Thursday, September 16, 2010 - Qualifying Alaskans will have greater access to home ownership through a $625,000 loan approved by the Alaska Housing Finance Corporation (AHFC) board of directors Tuesday. The loan will allow Anchorage Neighborhood Housing Services (ANHS), also known as Neighborworks Anchorage, to continue its down-payment assistance loan program for under-served markets, and provide assistance to borrowers who would not qualify for home ownership due to changes in the market, such as higher housing costs or lower interest-rate subsidies.

Since June 1996, AHFC has loaned a total of $21.25 million to ANHS, which in turn has closed a total of 773 loans with an average loan of $30,045 under this program.

Loans to Sponsors (LTSP) is a program under which AHFC, subject to the availability of funds, makes zero percent loans to non-profit corporations, regional housing authorities, or government entities to make home ownership more accessible to low- to moderate-income borrowers. Currently eight Sponsors, consisting of five nonprofits and three regional housing authorities, administer approximately $16.4 million in low-interest loans to low- to moderate-income borrowers. Sponsors are limited to an annual allocation of $625,000.

The program ultimately will provide financing to lower-income individuals or persons who would not otherwise qualify for financing due to income limitations, down-payment requirements, loan-to-values, or other considerations. Recipient eligibility for the loans is based on 80 percent% of the median income for the area, adjusted for family size and property location, as well as the lending criteria established by the Sponsor's guidelines. AHFC’s loan is repaid by ANHS from the Recipient’s payments paid to ANHS.

AHFC is a self-supporting public corporation with offices in 16 communities statewide. It provides statewide financing for multi-family complexes, congregate facilities, and single-family homes, with special loans for first-time home buyers, low- and moderate-income borrowers, veterans, teachers, nurses, public safety officers, and those living in rural areas of the state. AHFC also provides energy and weatherization programs, low-income rental assistance in 17 communities, and special programs for the homeless. Since 1986, AHFC has contributed more than $1.95 billion to Alaska’s State budget revenues through cash transfers, capital projects and debt service payments.

Where does the time go?  I wonder this as I fly through week after week.  Earlier this summer I injured myself having fun, playing softball I tore my Achilles tendon. Back in June I had surgery and thought that it would be forever before I was better.  Now 12 weeks later I almost recovered and was able to skate once again (please don't tell my Physical Therapist).

The school year has started and all the activities that go along with it.  This last weekend was the AHBA Parade of Homes, and the weather was beautiful.  Lots of couples and families out looking at the new homes.  Everyone was in a great mood and looked like they were enjoying themselves.

As I write this blog I am reminded that you need to write down the things you need to do.  Writing appointments in your calendar seems like a no-brainer; but what about other events?  Do you put these non appointment events into you calendar?  With smart phone you can virtually remind yourself about anything.  I asked my Othopedic doctor to e-mail me the appointments so that I could just move them into my calendar.  It is so important to put everything in so that you don't miss something important.

This also frees up the mind to not stress over trying to remember every little detail.  I owe this little tidbit of advice to my wife.  She always tells me to just write it down, then I can come back to it later.  BTW she's really smart.

Time's flying again so I need to go, until next time. 

Take care of yourself and keep you schedule straight.

Alaska summers are short but very long.  We have a tremendous amount of sunlight, which helps us navigate this great state.  There are so many different places that you can visit.  You just have to get out there and do it.

You can visit Valdez, my wife took some of our extended family there for a little Halibut fishing.  They did well and cam back with 10 fish.  on the drive from Anchorage to Valdez you will see many spectacular sights.  You can also get to Valdez by taking the Alaska Ferry from Whittier.  This is an easy trip and a great way to see Prince William Sound.  You can then drive back or hop on the ferry for the return trip.

Homer is another excellent choice, and although I will not make it there this year there I definitely recommend it.  In Homer you can visit the spit; this is where you will find the boat harbor and launch for fabulous Halibut charters.  You can get a water taxi to Halibut Cove or Seldovia.  Both destinations offer excellent choices for dining and some fabulous art galleries.  The Kachemak Bay is a beautiful destination.

I really like visiting the Cooper Landing area on the Kenai Peninsula.  Cooper Landing offers excellent trout and Salmon fishing as well as wildlife viewing.  On numerous trips I have fished along side black and brown bears.  Eagle watch as we catch our fish, then slowly drift down the river.  This last weekend we visited the mouth of the Kenai River for a little Alaskan fun; Dip netting.  This is an Alaska tradition and a great way to stock you freezer full of fish.

On the day we visited 100,000 Red Slamon came into the river, yes, I said one hundred thousand.  People line the shore with large nets scooping out fish; in one area boats of all sizes go up and down the river with Dip nets hanging over the side.  A dip net is a 4 or 5 circle with gill netting in it.  Most people have a 5-6 foot handle on the hoop.  You wait to a fish swims into the net and then haul it in.  On the day we visited the river there may have been 500 boats on the river scooping up fish.  There is a weir just past this area, and the next day the weir count showed 68,000 fish made it through the dip nets.

Our family pulled in 55 fish, and the friends with us pulled in 65 for their family.  We got our limits and headed home.

There is so much to do up here it's really hard to get it all in.  You can go clamming.  You could hike one of the hundreds of trials that are in the South Central Alaska.  You can water ski, white water raft or kayak; don't forget ocean kayaking.  There's flight seeing, and then the normal pursuits like softball, and baseball.

Oh yeah, I forgot the most important thing.  You have to work and get some sleep.  I have to go, my wife says I need to mow the lawn, don't forget your chores.

House OKs extension of tax credit closing deadline

Senate could vote Wednesday

By Inman News, Tuesday, June 29, 2010.

Inman News

In a 409-5 vote, House lawmakers have passed a standalone bill that would extend for three months Wednesday's deadline for closing on a home purchase in order to claim the federal homebuyer tax credit.

The Senate could vote on the bill, HR 5623, as soon as tomorrow, although the death of Sen. Robert Byrd, D-W.Va., has slowed the pace of work in that chamber.

Without an extension, the National Association of Realtors estimates as many as 180,000 homebuyers who were under contract by April 30 may miss the June 30 closing deadline, including 17,700 in California, 15,340 in Texas, 14,830 in Florida and 9,130 in New York.

"Keep your fingers crossed," said Lucien Salvant, an NAR spokesman, who said prospects for quick passage of the bill are mixed.

While some observers think HR 5623, "The Homebuyer Assistance and Improvement Act," could sail through without further delay, there's no guarantee it will come to a vote, Salvant said.

The Senate is already on record supporting an extension, having amended a bill on June 16 to push the deadline back to Sept. 30. But other provisions of that bill, the "American Jobs and Closing Tax Loopholes Act of 2010," have proved controversial, prompting House lawmakers to introduce a standalone bill.

Sorry I have been away from my computer over the last couple of weeks and have not had the time to send a virtual update to everyone. 

I did receive a compliment via another Realtor about our company and thought I would tell you about it.  In this case we had a listing next door to the other licensees, and yes they work for a different brokerage.  The sellers were of course friends and spoke to each other on a regular basis.  Our seller was telling his neighbor about the reports we were sending to him on a daily basis, which he then complained to his Realtor about.

The Realtor came to us wanting to know what we're sending and why are we making them look bad (yes we are friends with our competition).  We explained to them that we were just keeping them up to date on the local market.

Here's the real story and why is it important to you.  See here at Prudential Jack White Vista Real Estate we have a great tool called Online Sellers Advantage (OSA).  OSA keeps seller informed of all market activity near their home.  The receive daily updates on price changes and any new competitors that may have come on the market.  They can see when other homes are pended (sold ). This is a vital tool and or sellers really like this information. 

The reports also show how many people have looked for a home in their price range and then it shows them if the prospective buyers actually looked at their home.  This tool shows you when more buyers have entered the market, or if someone really likes your home and has saved it as a favorite.

Our seller was very happy with this information and was very happy with our service as we help prospective buyers find his home.  This eventually lead to a sale and a very happy seller became homeless, which in this case was a great thing.

If you have questions about Online Seller's Advantage please give me a call and I will show you why it is a tool that will work for you.