Who Says There's No Money To Lend?

I’ve been hearing it a lot lately – “Now’s a terrible time to buy, because nobody’s lending money.” Nothing could be farther from the truth! The fact is that for qualified buyers (steady job and income, good credit), there are loads of mortgage financing programs available.

The truth is in the numbers. Four hundred mortgages were written last month in Jackson County alone. Of the $134 Million in residential real estate sales, nearly $110 Million was financed. Again – this is in one county in the Kansas City Metro Area. Anyone who says the Real Estate Market is terrible doesn’t live in Kansas City.

True, inventory is up, and there is certainly another wave of foreclosures in store. But the market is working hard on its backswing. Houses ARE selling, prices are great, and interest rates are at historical lows. You may never have a better chance to get so much for so little money – both on the purchase price, and long-term interest payments. There may not be a better time to buy in our lifetime.

To find out how to get the absolute best real estate deal in town, call me now at 816-200-4372.

Find out the top buyer traps and how to avoid them. Visit www.LoriDaySells.com/Buying.

Sign up for a free weekly list of Kansas City’s hottest properties! Email me at Lori@LoriDaySells.com

EMAIL: Lori@LoriDaySells.com WEB: www.LoriDaySells.com

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Missourians: Say NO To Double Taxation!

WWW.YESTOSAVEHOMES.COM

Court Win is Victory for Voters: Missourians Will Have Opportunity to Vote “YES” to Stop Double Taxation

(Jefferson City, Mo.) – In a court victory for the rights of voters, Missourians will have an opportunity this fall to Vote “YES” to Stop Double Taxation. Cole County Circuit Judge Paul Wilson ruled Tuesday that the proposed state constitutional amendment barring transfer taxes on real estate received enough petition signatures from registered voters to appear on the Nov. 2 ballot.

“There is no dispute that enough registered voters signed the initiative. The Vote ‘YES’ To Stop Double Taxation Committee showed conclusively in court that thousands of valid voter signatures were incorrectly thrown out by election authorities. We stood up for the rights of these voters to be counted, and the court has supported the rights of voters to be counted,” said attorney Chuck Hatfield, who represented the campaign committee during several days of hearings.

The Vote “YES” To Stop Double Taxation Committee submitted tens of thousands of voter signatures on petitions to place the amendment on the ballot. However, the Missouri Secretary of State’s Office announced its conclusion that the proposal did not receive enough signatures of registered voters to qualify for the ballot.

The committee’s own analysis showed validation rates around 80 percent across six of the nine congressional districts where signatures were gathered, and in some counties better than 90 percent. The committee also showed in court that thousands of valid voter signatures were thrown out by election authorities for an array of questionable reasons during their reviews of the petitions.

The court victory means the Vote “YES” To Stop Double Taxation Committee will move ahead with a strong educational campaign for Missourians about the unfairness of transfer taxes. Transfer taxes on home sales are double taxation because Missourians already pay annual property taxes on real estate, often over many decades of ownership.

Missouri is among just 13 states that do not impose a transfer tax on real estate sales, including all of Missouri’s neighboring states. As state, county and city revenues decline, politicians are tempted to impose new transfer taxes - just as Missouri citizens are struggling to make it.

The proposed state constitutional amendment’s language is straightforward and simple:

“Shall the Missouri Constitution be amended to prevent the state, counties, and other political subdivisions from imposing any new tax, including a sales tax, on the sale or transfer of homes or any other real estate?”

The proposed amendment is sponsored by the 21,000-member Missouri Association of REALTORS®, which wants to keep Missourians from being saddled with unfair double taxation that can destroy the American dream of home ownership.

Learn more about the amendment at www.YesToSaveHomes.com

Five Things That Will Kill Your Credit Score

Your credit score, (your FICO score) can range from the worst possible score of a 300 to a perfect 850, and is determined by such factors as paying your bills on-time, the amount of money you owe, and the length of your credit history.

It takes a long time and a lot of diligence to establish a great credit score – which will net you the best interest rates and financing terms on your big-ticket purchases. However, just a few little errors can send your score spiraling to the depths of “un-financeable”.

Late Payments. Just one occurrence of 30 days past due can cost you up to 100 points. It will take much longer to get those points back than it took you to lose them.

High Balances. If you use more than 35% of your available credit – creditors may view you as a risk, as they may not feel you are able to use good judgment – and could be likely to overspend.

Closing Accounts. While it’s true that nobody needs 5+ credit cards, having established credit accounts increases your score. The length of credit history is a big determining factor of your perceived creditworthiness. So you may consider leaving these accounts open – especially the ones you’ve had for the longest amount of time.

Too Many Store Cards. It’s tempting to sign up for a new card to receive x% off of your purchase – but watch out. Too many credit applications in a short amount of time could be considered a red flag.

Ignoring Fines. Believe it or not – that measly little unpaid parking ticket could cost you much more than the $30 fine if gone unpaid. More and more government agencies are turning unpaid accounts over to collection companies – who report these fines as unpaid to the credit bureaus.

Your credit history is used to “paint a picture” of you, in order to help companies determine your trustworthiness. In fact, many potential employers have begun to pull credit histories of their applicants as part of their review process. So, while paying an account or two 30 days late may only cost you a few dollars in fees – it could cost you much more in the long run!

Don’t forget to keep an eye on your credit score! All Americans are entitled to a free credit report every year – so take advantage! Order your copy today! Just visit www.annualcreditreport.com to order your copy today.

If you would like more information about buying or selling a home in your area, please don't hesitate to contact me! I am always available to answer your questions - and ready to serve your real estate needs. Your complete satisfaction is my goal - because I want to be your Realtor for life!

Lori Day Infinity Realty

(816) 200-4372 Cellular (816) 554-6351 Fax (816) 554-6368 Office

EMAIL: Lori@LoriDaySells.com WEB: www.LoriDaySells.com

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Stop Payment, Then Stop Payment Again

Have you ever written a check, only to have it lost in the mail? When this happens to most people, they take the safe route and cancel the check. For most banks, all you need to do is call into customer service, request a stop payment order (generally paying a fee of $15-$30), and forget it.

Bad news though, if you do business with Bank of America. Apparently it is their policy to enforce a $30 stop-payment order for only SIX MONTHS. What happens after that, you ask? Well according to BOA reps, it "generally" won't be cashed after six months anyway. If you are concerned that "Random Teller A" won't even look at the date of the check - you actually have to cancel the check again EVERY SIX MONTHS (at $30 per time)!

Although it's true that many banks won't cash a check older than six months, there is no law in place to back up this practice. Therefore, you really have no guarantee (short of following up every six months and paying $30 until the end of time) that your stop payment order will be honored. Depending on the amount of the check, it could actually be more cost-effective to "risk it", hoping the check does not go through than to pay $30 every six months to guarantee it.

As though we needed another reason to despise Bank of America...

Read the Yahoo Finance article here.

If you would like more information about buying or selling a home in your area, please don't hesitate to contact me! I am always available to answer your questions - and ready to serve your real estate needs. Your complete satisfaction is my goal - because I want to be your Realtor for life!

Lori Day

Infinity Realty

(816) 200-4372 Cellular

(816) 554-6351 Fax

(816) 554-6368 Office

EMAIL: Lori@LoriDaySells.com

WEB: www.LoriDaySells.com

FIND ME ON FACEBOOK

FOLLOW ME ON TWITTER

My Mission Statement:

At Infinity Realty, we make a difference in real estate by saving our clients thousands! Whether you're buying or selling, I WILL save you money; with expert negotiation skills and lowered commission rates. When you hire me, you won't sacrifice service! I promise I'll provide you with a full-service customized client experience, at the highest level of integrity. I do the little things that make a difference - from start to finish, and beyond. Your satisfaction is my mission, because I want to be your Realtor for life!

For Buyers and Sellers - Termites

Do you know whether this is going on inside your walls?

I've had countless buyers ask me "Why should I bother with a termite inspection? I don't see any termites. I'm already spending so much buying the house, that I don't really want to pay the extra hundred bucks for something so trivial."

Trivial, you say? Oh - no it isn't! There's a saying here in the Midwest that we Realtors often refer to: "If you don't have termites, you will." The fact is that termites are extremely common in our area. For such a tiny little insect - they sure can cause major destruction. And you can't always see their presence with the naked eye.

The truth is, everyone should have regular termite inspections. When you're buying a home, it's especially important because of the money you're already spending. Sure, you could spend up to $150 on an inspection. But you could spend up to $1,500 for treatment alone. (If there is serious damage - you could also incur costs in repair to the property.) This is not the kind of surprise you want after closing.

The great news (for buyers) is if you discover termite infestation, the seller must pay for treatment. Once you're a homeowner, it's a good idea to keep up with regular re-inspections. In many areas, regular preventative services are warranted. "An ounce of prevention is worth a pound of cure" as they say. You certainly don't want to be surprised by termites when you're selling your home!

So if you're buying or selling a home - get a termite inspection! The peace of mind is far greater than the dollars spent. Contact me if you need a referral for a great termite specialist in your area.

If you would like more information about buying or selling a home in your area, please don't hesitate to contact me! I am always available to answer your questions - and ready to serve your real estate needs. Your complete satisfaction is my goal - because I want to be your Realtor for life!

Lori Day

Infinity Realty

(816) 200-4372 Cellular

(816) 554-6351 Fax

(816) 554-6368 Office

EMAIL: Lori@LoriDaySells.com

WEB: www.LoriDaySells.com

FACEBOOK: www.facebook.com/pages/Lori-Day-Realtor/198561393044?ref=ts

My Mission Statement:

At Infinity Realty, we make a difference in real estate by saving our clients thousands! Whether you're buying or selling, I WILL save you money; with expert negotiation skills and lowered commission rates. When you hire me, you won't sacrifice service! I promise I'll provide you with a full-service customized client experience, at the highest level of integrity. I do the little things that make a difference - from start to finish, and beyond. Your satisfaction is my mission, because I want to be your Realtor for life!

Seller Series - Three Steps to Selling Your Home in a Buyer’s Market

You have probably heard over and over "It's a buyer's market out there." But, in hearing that, many are left wondering what does that really mean, and how will it affect me if I want to sell my home?

WHAT IS A BUYER'S MARKET?

Put simply, the term "a buyer's market" means that right now, that's who has the advantage in the real estate market. Because of these three factors: inventory is high, astoundingly low interest rates, and record-high availability of foreclosed homes; buyers are looking for nothing less than (and can certainly find) what they deem "a steal."

YOU CAN STILL SELL YOUR HOME!

However, this certainly does not mean you will be unable to sell your home! In fact, a buyer's market is a great time to sell your home - since there are so many buyers out there! But, just putting a sign in your yard and waiting for the buyers to stampede won't get the job done! Now - more than ever, you have to have a solid strategy to get your home sold.

STEP ONE: PRICING YOUR HOME RIGHT - THE FIRST TIME!

The homes that are selling right now fall into one of two categories: Perfect, move-in condition at a fantastic price; or Needs work, and is priced well below the neighborhood's "market value." Therefore, you need to make a decision before ever listing your home for sale: Spend some time and money to fit your home in the "Perfect" category, or show your house as-is, and price it in the "Steal" category (which means taking more money off the price than it would cost a buyer to "fix it up"). No matter which route you choose - use homes comparable to yours, in or near your neighborhood, that have sold in the last three months to help you establish the asking price for your home. These are not the days where a seller can risk pricing high to "see what they can get." Pricing your home effectively the first time will help you avoid extended periods of time on the market before a sale, and lost money at the closing table.

STEP TWO: YOUR HOME MUST SHOW WELL - EVERY TIME!

It is imperative that the buyers who see your home get a great first impression. This means don't show your house before it's ready! Listing your home with a disclaimer that "some work still in progress" is a terrible idea. A buyer cannot envision the work that "will be done", nor are they likely to come back later to see what you've done. There are too many homes on the market right now to risk letting your buyers leave your home with a less-than impression. Among the most important factors to ensure your home sells well are: great smells, no clutter, and clean, clean, clean!

STEP THREE: EXCELLENT MARKETING IS KEY!

No matter where your home fits on the "price scale," you MUST get the word out! It is imperative to use all available resources in marketing your home - in order to reach the highest possible number of "ready-to-act" buyers. This means that you (or your agent!) must utilize the latest, cutting edge technology to syndicate information about your home via the internet - to reach buyers both in & out of town, within real estate offices throughout the city (as 97% of buyers work with professional Realtors), and to your neighborhood and to your entire circle of friends and family (leaving no stone unturned!).

While it's true that there is a lot of "competition" out there - if you follow the above three rules - there is no reason your house can't sell! If you would like more information about buying or selling a home in your area, please don't hesitate to contact me! I am always available to answer your questions - and ready to serve your real estate needs. Your complete satisfaction is my goal - because I want to be your Realtor for life!

Lori Day

Infinity Realty

(816) 200-4372 Cellular

(816) 554-6351 Fax

(816) 554-6368 Office

EMAIL: Lori@LoriDaySells.com

WEB: www.LoriDaySells.com

FACEBOOK: www.facebook.com/pages/Lori-Day-Realtor/198561393044?ref=ts

My Mission Statement:

At Infinity Realty, we make a difference in real estate by saving our clients thousands! Whether you're buying or selling, I WILL save you money; with expert negotiation skills and lowered commission rates. When you hire me, you won't sacrifice service! I promise I'll provide you with a full-service customized client experience, at the highest level of integrity. I do the little things that make a difference - from start to finish, and beyond. Your satisfaction is my mission, because I want to be your Realtor for life!

Seller Series – Why the Appraisal You Got is Probably Not the Price You’ll Get for Your Home

I've heard it time and time again - my house appraised for $x, so that's what I am going to list it for. While it's great to know the approximate value of your home before listing it for sale - many sellers are misled (albeit unintentionally) by appraisals. Many times, the "appraisal value" a seller receives can vary significantly from the true "market value" of a home. Here's why...

IF THEY WORK FOR YOU THEY WANT TO DELIVER GOOD NEWS

When you hire a private appraiser, that company is working for you - the seller. Therefore, they want to earn your money, make you happy, and provide you with the highest possible value for your home. The typical private appraiser who comes out will likely use the "Cost Approach" method. This means he or she will estimate the amount it would cost to replace the home with all the improvements, minus depreciation - then add the approximate value of the land. While this method is a handy tool for getting an approximation of the value of your home - to satisfy curiosity, for instance - no sales comparison is used. Therefore, the value determined by the appraiser could be much higher than the market value of your home.

IF THEY BUY UGLY HOUSES IT'S GOING TO BE BAD NEWS

When you call one of the many investment companies out there, it's their goal to make money - not make you money. Therefore, when determining the "value" of your home, they will likely use what's called the "Income Approach" method. This involves estimating what an investor would pay for your home, based on the money he/she would put into it, and what they'd likely profit either by re-selling it, or in monthly rents. SO, if you call 1-800 WE BUY ANY HOUSE IN 10 DAYS - it's true you may be able to sell your house quickly. However, you will likely be given a value that is much less than the market value of your home - and end up "leaving money on the table" at closing.

ONLY A REALTOR WILL TELL YOU WHAT YOUR HOME IS "REALLY" WORTH

When you call a Realtor to do a Comparative Market Analysis (CMA) for your home, he or she will use the "Sales Comparison Approach" to determine the value of your home. This method will help you determine the current and actual market value for your home, as it involves comparing several properties similar to yours that have sold recently. While you could still receive a wide value range if you interview several Realtors, this approach is still your best bet for determining the current value of your home. (Tip: If you do interview several Realtors, look closely at the comparable properties they use to value your home. The more properties the better - and the more recent the sales the better. One or two properties that sold 9-12 months ago really have nothing to do with today's market!)

As you can see, appraisals are more of an art than a science. There are so many factors and methods involved - that it can be difficult to obtain a "true value" for your home. So - the first thing to ask yourself is - why do I want to know the value of my home? If it's because you are thinking of selling - CALL A REALTOR! That is your best bet for getting a current - real market value for your home. After all, Realtors only make money if they SELL your home, whereas appraisers make money just to visit - and investors make money by paying as little as possible!

If you would like more information about buying or selling a home in your area, please don't hesitate to contact me! I am always available to answer your questions - and ready to serve your real estate needs. Your complete satisfaction is my goal - because I want to be your Realtor for life!

Lori Day

Infinity Realty

(816) 200-4372 Cellular

(816) 554-6351 Fax

(816) 554-6368 Office

EMAIL: Lori@LoriDaySells.com

WEB: www.LoriDaySells.com

FACEBOOK: www.facebook.com/pages/Lori-Day-Realtor/198561393044?ref=ts

My Mission Statement:

At Infinity Realty, we make a difference in real estate by saving our clients thousands! Whether you're buying or selling, I WILL save you money; with expert negotiation skills and lowered commission rates. When you hire me, you won't sacrifice service! I promise I'll provide you with a full-service customized client experience, at the highest level of integrity. I do the little things that make a difference - from start to finish, and beyond. Your satisfaction is my mission, because I want to be your Realtor for life!