The Brainerd Lakes Real Estate Blog

Helping make real estate dreams come true   Why is the number of short sales rising? Due to the recent economic crisis, including rising unemployment, and drops in home prices in communities across the nation, the number of short sales is increasing. Since a short sale generally costs the lender less than a foreclosure, it can be a viable way for a lender to minimize its losses. A short sale can also be the best option for a homeowners who are “upside down” on mortgages because a short sale may not hurt their credit history as much as a foreclosure. As a result, homeowners may qualify for another mortgage sooner once they get back on their feet financially. Contact me at - 218-829-0339 or email: KLordbock@kw.com Have you received a Notice of Default on your property?  What are your plans?  Do you plan to walk away or do you want to try a Short Sale which has much less damage to your credit and helps you save face? You need a plan of action and if you wa...

Helping make real estate dreams come true   I have a similar story to Lori's as I was very interested in decorating and designing, even at an early age. I thought you may enjoy her well written story. May 2010 “The Possible Origin of My Career...” by Lori Matzke When I turned five, my par ents bought me a dollhouse. It was a large English manor- style home made out of vinyl that opened and closed like a suitcase. The exterior was imprinted with a red tile roof, white bricks, and numerous windows adorned with lush boxes spilling over with bright pink geraniums and trailing vines. Once the top buckle was unfastened, the lid would fall open to reveal a marble terrace that lead to a grand foyer and even grander rooms within. My parents included furnish ings and a complete mini- nuclear family, including Mom and Dad, Junior and Sissy. And while I truly appreciated having a nice family to oc cupy such a terrific home, I rarely played with them. To be honest, I was much more inte...

Helping make real estate dreams come true RISMEDIA, February 22, 2010—As a first-time home buyer, Jessica Garcia was excited last April to officially begin her home search. She found a home within her price range, completed the lengthy paperwork and paid for the appraisals, only to later be told after four months that the deal would not close. Out of luck and out of money, Garcia was frustrated, but not defeated. She went back to her Realtor to start the search again. It was then that she found the home she would later purchase. Upon first glance, Garcia liked the home and saw its potential, but didn’t have the upfront money it would take to rehab the home the way it needed to be done.      After some discussion, Garcia’s lender, Kevin Roy with Wells Fargo, realized that she might be able to take advantage of HUD’s 203k program, specifically designed to rehabilitate and repair single-family homes. The 203k is a single mortgage loan that provides funds to purchas...

Helping make real estate dreams come true  Kathleen Lordbock Completes Prestigious LDPD Designation to Specialize in Luxury Home Sales             Kathleen Lordbock a Realtor with Keller Williams Brainerd Lakes has earned the prestigious Harris Real Estate University Certified Luxury Distressed Property Designation (LDPD), having completed extensive training in negotiating and closing short sales for the higher end market. This expertise is invaluable as the current housing recession forces more luxury homes into foreclosure. Short Sale real estate agents need to understand the intricacies of representing clients in the sale of their luxury homes and demonstrate expertise in facilitating confidential transactions. As a representative of the home seller, the agent must understand how to negotiate with first mortgage lenders, second mortgage lenders and Home Equity lines of credit in a Short Sale transaction. “The Harris Real...

     A very talented artist for several years has painted ornaments to be hung on the various White House Christmas trees . The WH sends out an invitation to send an ornament and informs the artists of the theme for the year.  She got her letter from the WH recently. It said that they would not be called Christmas trees this year. They will be called Holiday trees . And, to please not send any ornaments painted with a religious theme.     She was very upset at this development and sent back a reply telling them that she painted the ornaments for Christmas trees and would not be sending any for display that left Christ out of Christmas.   Just thought you should know what the new residents in the WH plan for the future of America . If you missed his statement that "we do not consider ourselves a Christian Nation" this should confirm that he plans to take us away from our religious foundation as quickly as possible. ...

photo Flickr Time for Balance - Again! Home inspections are a must, and I see that buyers and some agents have shifted their views of them since the economy took a turn down. I tell my buyer clients that the inspection is not intended to provide a laundry list of items that the seller is required to fix. It is done to educate the buyer and point out any issues that the buyer may not know otherwise. Some issues are minor, while some are major. One cracked tile in the bathroom does not mean the whole floor has to be replaced ... unless ... it is found that water has consistently seeped through and ruined the subflooring. Then we would request a replacement or credit. If an inspection issue is health, safety, or structural related, I would ask the seller to repair before closing. After all, if the seller refuses to repair it, it must now be disclosed in the property disclosure. That will certainly deter future buyers. Other agents are encouraging their clients to put in an o...

What Do Short Sales and The Health Care Bill Have In Common? Case In Point. Have you ever done a short sale negotiation for a seller? Have you ever had to deal with Bank Of America, J P Morgan Chase, Bank of New York Mellon, Deutsche Bank?   You know how tough that is. You know the lack of customer care your sellers get because they tell you about how they stay on the phone for 45 minutes only to get someone who won't help them. You know how many of your sellers tried , especially those who live in Florida, California and Arizona- to get a loan modification done before they called you to help save their home from foreclosure. Who has the power in a short sale?  Now, don't get me wrong. I am not saying anyone is entitled to a short sale. That is not what this post is about. Stay with me here. What does the health care bill and the short sales have in common? The same players! The Wall Street thugs and the Banks are the heavy aggregate investo...

Helping make real estate dreams come true!      Attention firefighter, teachers, police and other essential workers, you may qualify for special terms to buy a home with FHA funds.  Call for more information and to see homes that will qualify for the FHA program. $6500 and $8000 tax credit possible as well. Kathleen Lordbock REALTOR/Staging & Short Sale Specialist 218-831-8001 KLordbock@kw.com

Helping make real estate dreams come true NAR Frequently Asked Questions Homebuyer Tax Credit Changes National Association of REALTORS® Government Affairs Division 500 New Jersey Avenue, NW, Washington DC, 20001 Here are some of the most frequently asked questions on the changes to the Homebuyer Tax Credit Question: Existing homeowner credit: Must the new house cost more than the old house? Answer: No. Thus, for example, individuals who move from a high cost area to a lower cost area who meet all eligibility requirements will qualify for the $6500 credit. Question: I am an existing homeowner. On October 25, 2009, I signed a contract to purchase a new home. I have lived in my current home for more than 5 consecutive years and am within the new income limits. I will go to settlement on November 20. If President Obama has signed the bill by the time I go to settlement, will I qualify for the new $6500 tax credit? Answer: Yes. The existing homeowner credit goes into effect for pu...

Helping make real estate dreams come true

Helping make real estate dreams come true

As a specialist in short sales - I can offer you help with your short sale and hope. Tell me your short sale story and let's work out a solution. KLordbock@kw.com in reference to: YouTube - RE/MAX North Central's Tuesday Tip: Short Sales Real Results ( view on Google Sidewiki )

Helping make real estate dreams come true   The Sack Lunches I put my carry-on in the luggage compartment and sat down in my assigned seat..  It was going to be a long flight.  'I'm glad I have a good book to read Perhaps I will get a short nap,' I thought. Just before take-of...

Helping make real estate dreams come true

<cite>Breaking Housing News(Video) | Death Of The First Time Home Buyer Credit? | #1 Real Estate Coach ing Blog</cite> : " Breaking Housing News….More evidence that the 'First Time Home Buyer Credit' won't be extended….….at least in its current form. There are numerous reasons to believe the program is destined soon to go 'poof'… 1) Numerous reports about abuse in the system. 2) Various studies have shown that the program didn't create that many sales….buyers would of bought regardless. 3) The overall cost of the program is seen as excessive vs. the benefit. Helping make real estate dreams come true

Helping make real estate dreams come true Greater Lakes Association of REALTORS Market Update: With the final days of the tax-credit for first-time home buyers approaching, home sales in the Greater Lakes region are showing some signs of life. There were 236 homes sold in September, up 14.0 percent from one year ago. That's also a slight increase from August, which is quite remarkable considering that September typically means a drop-off in sales as the school year begins. Home prices continue to decline, but this is partially a function of increased market share of non-waterfront homes, likely sparked by the federal tax credit for first-time home buyers. Good news for sellers: the Average Days on Market Until Sale is now shrinking and the Percent of Original List Price Received at Sale is now growing. House not selling? Listing contract expiring? Falling behind on payments? Kathleen Lordbock Keller Williams Realty Brainerd Lakes REALTOR/Staging & Short Sale Specialist 218-829-...

<cite>REALTOR® Magazine-Daily News-Aides: Home Buyer Tax Credit Extension Likely</cite> : " Extending the First-Time Home Buyer Tax Credit, due to expire at the end of November, is high on the Democratic Congressional to-do list, legislative aides said.After Wednesday's meeting with President Obama and House Speaker Nancy Pelosi (D-Calif.), Senate Majority Leader Harry Reid (D-Nev.) released a statement that the government should 'continue efforts to strengthen the housing market by extending the home buyer tax credit.'Mark Zandi, chief economist at Moody's Economy.com, who is a consultant to Democrats in the administration and Congress, is advocating extending the credit through August and making it available to all home buyers. He said failure to extend the credit just as more foreclosures enter the market will push housing prices down.Also, on Thursday, the House is expected pass legislation to extend the credit through 2010 for people who have been ...

Helping make real estate dreams come true! H ere are some safety tips for Halloween: * Always set rules for the night out and make sure each of your children understand them thoroughly. * Make sure children are accompanied by an adult (if very young) or are walking in groups of 4 or more. * Check all flashlight batteries before they leave and give them an extra set. * Set a return time, if possible give them a watch with an alarm on it set to that time. * Make sure that at least one child in the group has a cell phone for emergencies and it is fully charged. * Put reflective tape on their costumes, as many are dark. * Instruct them not to eat any candy until they have come home and you have been able to inspect it. * Make sure they know not to enter any house. They should only accept treats at the doorway. * Give them street boundaries for their route and drive it with them before they go out. * Instruct them to walk on the sidewalk at all time...

Helping make real estate dreams come true Current REBAC News ECONOMISTS ENCOURAGE TAX CREDIT EXTENSION (New York Times Online, Sept 15, 2009) When Congress passed an $8,000 tax credit for first-time home buyers last winter, it was intended as a dose of shock therapy during a crisis. Now the question is becoming whether the housing market can function without it. As many as 40 percent of all home buyers this year will qualify for the credit. It is on track to cost the government $15 billion, more than twice the amount that was projected when Congress passed the stimulus bill in February. In the view of the real estate industry and some economists, all that money is well spent. They contend the credit is doing what it was meant to do, encouraging a recovery in the housing market that is gathering steam. Analysts say the credit is directly responsible for several hundred thousand home sales. Skeptics argue that most of the money is going to people who would have bought a home anyway. And...