Alison Creamer's Real Estate Blog

Why I hate to blog

Okay, here we go - all the reasons I hate to blog! 

1. SPELLING

2. FORMATTING

3. MAKING SENSE

4. GRAMMAR

5. TOO MANY THINGS TO BLOG ON 

There you go, I laid it all out on the line. I think I have ADD and I have a hard time getting all my thoughts together. I'm not a very good blogger and the posts seem to be very simple and to the point. I wish I could organize my thoughts better.  I have tons of stuff to blog on. I'm very active with Real Estate. Our team holds 40+ listings within all price ranges. I could do a blog daily on the calls, the promotions, and the contracts. I closed 4 homes last month. I would be able to blog about how I met the client, the process, the rewards, and crises on each. I could blog about Social Media and how it has given me a new edge. I'm part of a social media class for Hampton Roads - www.newmediaconventions.com. Just that little tidbit could give me tons of content to talk about.  If you add in all the fun stuff I like to do like rubber stamping, making movies and all the books I try to read, the information is limitless. Really I think what stops me from blogging is just the fear of not coming across as an educated person. Really, I am! I just do so much better in PODCAST and Video than typing. So there you have WHY I DONT BLOG MORE! I prefer video. I love to connect eye to eye with my audience. No worries on grammar spelling or how the words are being read. It's so much easier to convery feeling and context with a video. 

Now the part I hate the most, PROOFING this blog. I'm sure I will miss something.

Im a few days behind in my reading of the local newspaper so this is old news Im sure. Military homeowners who must sell their home at a loss can get some help from the government. The DOD has about 555 Million for the HAP program. Families could get up to 90% ot there loss reimbursed to them when they must sell to do orders relocation them out of the area. Another option is for the DOD to buy the home for 75% of the origianal purchase price. Basic Guidelines to meet are .

1. Must have bought your home prior to July 2006

2. You must sell yor home prior to December 31

3. Submitt an application to by March 31, 2010 for assistance

I currently have 2 service member;s homes listed that would qualify for the program. Im sure there are other bits and pieces of the program to read about. I think the biggest question is the service member still has to be able to cover the loss then be reimbursed. Lucky for me one of my sellers has about 10k they would have to bring to the table at closing based on the average price in the area they are trying to sell.

If you want more information see http://hap.usace.army.mil/

I think this is a wonderful option for our service members

WHOAAAAA Hold on yes we closed this shortsale. Norfolk Va Shortsale. Alison Creamer,Bzibee, was able to keep this together.

I have been working a short sale with citimortgage for the past few months. It has been an experience I will never forget. We are to go to closing Friday 2-13-2009 and I cannot express how happy I and my seller will be when this is all done. I have learned some lessons on this topic.

1. Be very patient

2. Make sure you have a flexible buyer

3. Make sure all parties are reasonable

4.Read everything the bank gives you

We received a letter approving the short sale 60 days after submitting the offer. I was calling daily to try to get loss mit on the phone and I think of I had just been a bit more patient I would not have driven my self insane with worry. Once we got the letter there was a number that the bank wanted to net. No on not the buyers agent nor the title company re ran the numbers to ensure base don the contract terms that the bank would net this amount. So we are 48 hours to closing and we get the new finial HUD and it has the seller bringing 7600 to closing to see this home!!!! I was in a panic !!!! After more reading it appears that we should have been more diligent in the pay off and terms before this stage. Today I'm burning up the phones trying to get loss mit on the phone and see that we can do. Now I understand why agents say they will negotiate the listing fee at the last minute. The fact that we over look certain details that might actually have reduced this panic at the end and made all parties aware of “shaving” at the end is a fact of this process.

Stay tuned for 2-13-2009 blog to see if we got it all done and if we closed !

Hello,

Its seems as if the summer is starting to wind down. The Kids are getting ready for the school year and the nights are cooling off. I'm not sure I can say there has been much change in Real Estate. The July REIB stats noted that there is still a decrease in both buyers and seller for the month. I'm not sure where the trend is going. I can say I am seeing more and more bank owned homes and foreclosures in the area. NOT A good sign. I don't think it is anything like other areas are experiencing. If you want to know more send me a message. See more about what I'm doing at www.BZIBEE.com or hear me in Itunes

Cost of living to go up again in the Hampton Roads Region

Looks like the gas bill will be 35% higher and the Power Bill will be 18% higher. Good golly people what are we going to do? I’ve been doing some serious soul searching and trying to decide what I can do to help my family out with the bills. Ill included a few good websites that had some great tips some are really easy and of course some are just not a life style I’m ready to change to yet. Non-the less I still want to be efficient with my Family, Life and World. I think if we do not adapt and change “Darwin Theory will be proven. We will become extinct. (I actually don’t believe Darwin theory but it was a good way to explain my thoughts.

SO what can we do to help our clients out on getting in the home and being able to pay for more than the mortgage?

Being Frugal is not a sin this I think was one of the best sites to look at and many of the ideas here I can practice in my own life. I plan on making some of this in my buyer’s presentation. I tend to work with the 2^nd time buyer or 1^st time buyer normally in the middle to lower income levels and I’m sure they are really feeling the gas crisis and food increase. Now lets add in utilities and I think we are going to be loosing more and more buyers to a wait and see thought on living expenses. We are all in this together and I want my client to know I care about them after the sale as well as during.

The Freecycle Network.

Hello eveyone, Hope this summer has started off to be a good one. I wanted to give you a few reminders about what you can do here in Hampton Roads. I plan on being a tourist for the next few days as my father comes in town. He is a west coast guy so I have to show him some good east coast sites

www.vbfun.com
www.virginiaaquarium.com

Boat Tours

www.spiritofnorfolk.com
www.virginiasjewel.com
www.carriebcruises.com
www.americanrover.com
www.navelbasecruises

Trails and Camping

www.dcr.virginia.gov/state_parks/fir.shtml ( First Landing Park0
www.fws.gov/backbay ( Back Bay)
www.cityofchesapeake.net/parks ( Chesapeake)

Fishing

Lynnhaven Pier #481-7071
Virginia Beach Fishing Pier 428-2333
Nags Head Fishing Pier 252-4415141
Ocean View Pier 583-6000

Dont forget we have Rip currents and Jelly fish and intense sunrays. Stay safe !

Please take note of the new changes in the FHA loan program.  These changes will increase the cost of funds to borrowers which will ultimately effect the amount they are qualified to borrow.  As stated below the changes go into effect on July 14th, 2008.  Any loan not having an FHA case number prior to this date will fall under the new guidelines.  FHA case numbers are received once the borrower has a ratified sales contract.  Should you have any questions on the new FHA guidelines do not hesitate to give me a call.  As our credit markets tighten and FHA loans become the vehicle of choice for many home  buyers it's imperative they understand the upcoming increases to the cost of borrowing and the impact to their monthly payment.

For the first time in history, credit scores will be utilized in FHA lending. FHA guideline changes that become effective on July 14th, 2008.

The ten primary changes to the FHA guidelines:

1. Borrowers with either no score or at least 500 may get an LTV >90%.
2. Borrowers with a score less than 500 get a maximum LTV of 90%.
3. Borrowers without scores will require manual underwriting.
4. Upfront Mortgage Insurance Premiums will range from 1.25% to 2.25%, depending on score.
5. The Monthly Mortgage Insurance will range from .50% to .55% depending on score.
6. The premium is based on the borrower with the lowest score.
7. If one of the borrowers has no score, then the Non-Traditional credit grade is used.
8. Credit rescoring is allowed to improve a borrower's credit grade.
9. All FHA Secure refinances >95% LTV with delinquencies have a 2.25% UFMIP and .55% MMI.
10. These changes apply to cash-out, rate & term, and non-delinquent FHA Secure refinances.

MARKET MAY EACH YEAR	SUPPLY (SELLERS)	DEMAND  (BUYERS)
2008	16277 Down	5669 Down
2007	18051 Up	7346 Down
2006	16641 up	8331 Down
TREND	DOWN	DOWN

Shocking results to day in the Market Study for Southside Real Estate Market study

After looking at year to date studies and annual information is the turn of the market? Are we heading in a different direction? I’m anxious to see what June results will be . For the 1st time in many years the trend has changed this month. Normally we have seen listings up buyers down that points to a buyers market. This month both were down.

GOOD NEWS there is a suspension of the 90 days holding or seasoning period for investments or “flips” see See RISmedia.com

Call Me today to talk about your area and market !