Will the buyers be out during the holidays?

The folks at Realty Times think they just might be.

“As the year winds down, many homeowners fear that now could be a bad time to sell their home. While it’s true that the holidays can deter some folks from house hunting and making a major purchase—don’t give up.”

The recommendation to sellers:

“ If your house is on the market, step up the action plan to draw attention to it. Don’t let the holiday blues make you feel like there’s no hope. Homes are sold and bought this time of year. But the ones that get snatched up are the ones that are enticing to buyers.”

There are some things you can do to make your home more “showable”.

“A good rule of thumb, is to keep decor simple and subtle. If you celebrate Christmas, go ahead and put a tree up but don’t put one up in every room. Remember that buyers will be looking at your home and imagining their own holiday celebrations there. So, be sure to leave them room to envision their lives in the home.

“This goes for the outside too. Holiday lights can be placed outside very tastefully but ditch the huge inflatable characters that make it look like your yard is an amusement park. Instead, opt for a nice holiday wreath and some subtle seasonal decor. Keep in mind that curb appeal is what gets buyers in the door. If your home isn’t appealing from the outside, buyers won’t bother to stop for a look inside.”

What else can you do? Stash the gifts, they can clutter the living room. Add some fragrance to the air but don’t go overboard. Spruce up the mantle. No personal photos.

“Listing your home for sale during the holidays doesn’t have to make you blue; in fact it can truly brighten your spirits by putting some green in your bank account. Just be sure to focus on making your home a buyer’s dream this holiday season.”

Read the full article Fall May Bring Serious Buyers by Phoebe Chongchua.

For your next title order or

if you have questions about what you see here, contact

Stephen M. Flatow, Esq.

Vested Title Inc.

165 Passaic Avenue, Suite 101

Fairfield, NJ 07004

Tel 973-808-6130 - Fax 201-656-4506

E-mail vti@vested.com - www.vested.com

Sphere: Related Content

Looking for a home? How much house can you afford?

Trying to calculate “how much house you can afford?” Here’s a link to calculator from the folks at Bankrate.com that will give you a little guidance. By entering your income and living expenses you are able to get a rough calculation as to how much you can spend monthly on your housing and how much you can afford to pay for that new home.

Remember, it’s a calculator, so it’s nothing more than one tool in the box when you take the first steps in buying a home.

How much house can you afford

For your next title order or

if you have questions about what you see here, contact

Stephen M. Flatow, Esq.

Vested Title Inc.

165 Passaic Avenue, Suite 101

Fairfield, NJ 07004

Tel 973-808-6130 - Fax 201-656-4506

E-mail vti@vested.com - www.vested.com

Sphere: Related Content

Buying a home? Mortgage Preapproval Is Harder to Get

The New York Times’ Lynnley Browning writes about the mortgage preapproval process and changes to it.

"When properly done, preapproval can speed up the purchase process by providing a rigorous assessment of the maximum amount a buyer can afford to borrow, based on a formal credit check and verification of income and assets.“

“But prevetting has become more difficult and confusing these days, for borrowers as well as lenders, as a result of lending rules that took effect in January.”

“The rules from the Department of Housing and Urban Development require lenders to issue a binding good-faith estimate of total closing costs within three days of submission of a formal loan application. The formal application is usually made when a preapproval is written.”

So, what’s the rub?

“Many lenders are reluctant to be locked into closing costs amid declining property values, and therefore fewer of them, especially the big banks, are providing preapproval letters for a certain loan amount on a property that often has yet to be formally appraised. The problem is particularly acute for buyers who have not yet decided which property they want.”

When a problem arises, banks begin to move very, very cautiously.

“By not issuing preapprovals — and all the banks are not doing it — the banks are erring on the side of caution because there’s less risk for them,” said Lou-Ann Smith, a co-owner of Hamilton Ladd Home Loans, a broker in Ridgefield, Conn.”

Many sellers and real estate agents, meanwhile, still expect mortgage preapprovals. And,

“Agents embrace preapprovals because they allow them “to show they have a real buyer who’s already started the process,” Mr. Mollica said. And at the peak of the housing market, lenders were more than happy to provide preapproval letters.”

Another stumbling block to the revitalization of the housing market? Maybe. Read the full report.

For your next title order or

if you have questions about what you see here, contact

Stephen M. Flatow, Esq.

Vested Title Inc.

165 Passaic Avenue, Suite 101

Fairfield, NJ 07004

Tel 973-808-6130 - Fax 201-656-4506

E-mail vti@vested.com - www.vested.com

Sphere: Related Content

Digital electric meter causes headaches for homeowners

We live in the electronic age, that’s for sure. I know that my residential water company drives by my home and “reads” my water meter by radio as it passes by. I think the bills have been accurate. But,

“Sgt. John Robertson 2nd, an Army mechanic at Texas’s Fort Hood, is fuming about the so-called smart electric meter his local utility has installed on the side of his tidy, 1,800-square-foot home.”

“Like thousands of consumers with the new meters around the country, Sergeant Robertson suspects the device is not as smart as advertised.

“In his case, he says it is inaccurately measuring his family’s power use and driving up his bills — some months by as much as 50 percent, to as high as $320 — since it was installed in December. This, he said, is despite his efforts to cut back on energy use. “

But the system seems to plagued with errors.

“Over the last year, as utilities around the country have installed an estimated two million of the new digital meters, power companies have received plenty of complaints — and in some states have been hit by class-action lawsuits — most of them from consumers saying the smart meters are overstating their electrical usage.”

“Using digital technology and computer networking, smart meters can transmit real-time data that is supposed to enable utilities to conserve electricity and better allocate power during parts of the day when overall demand is high. Utilities can also then vary the price for power, by time of day or time of year, based on when it is being used; some are already offering this option to customers.”

In theory, consumers are supposed to be better able to adjust their electric use. Operative word being theory.

“But because of faulty technology in some cases, and more often through general shortcomings in consumer education and customer-service support by many utilities, smart meters are leaving many customers dumbfounded.”

So, the regulators are taking a closer look, and lawsuits have started. And there’s a lot of money at stake in operating savings for utility companies if the system works correctly.

Read the full report from the New York Times.

For your next title order or

if you have questions about what you see here, contact

Stephen M. Flatow, Esq.

Vested Title Inc.

165 Passaic Avenue, Suite 101

Fairfield, NJ 07004

Tel 973-808-6130 - Fax 201-656-4506

E-mail vti@vested.com - www.vested.com

Sphere: Related Content

Need to co-sign a loan? Be careful

Realty Times’s Bob Hunt writes “Guarantors of Another's Debt Need to be Very Careful.” Loan guarantees are likely to be sought in an economy like this one.

“In this kind of environment it is not unusual that a creditor may want some third party to guarantee the debt of a borrower. Parents may be asked to guarantee a lease for one or more of their offspring. (And which would you prefer: that you guarantee their lease, or that they move back in?) In-laws may be asked to guaranty some debt taken on by newly-weds; and a person venturing into a new business may need to turn to friends and/or family to guarantee a loan for start-up costs.”

While guaranteeing a family member’s loan is a traditional way to help someone get started in life or business, it should not be taken lightly. “Loan guarantors need to fully understand the terms of their guarantee.”

A California case points out the pitfalls of co-signing or guaranteeing another’s obligation. In this case, the bank went after the guarantors while it did not pursue the borrowers.

The guarantors didn't think it was right or fair that they should be pursued while the original borrower and one of the guarantors stood by. However, the trial court ruled against them; and the appellate court sustained the trial court's decision.

“There are two issues here that other, perhaps more pedestrian, potential guarantors want to keep in mind. More accurately, there is one main issue, and two examples of it. The main issue is simply this: IF YOU ARE GOING TO GUARANTEE A LOAN, BE SURE YOU READ THE DETAILS OF THE GUARANTEE CAREFULLY.”

“The point is simple. If you are going to guarantee a loan – which may be a terrific thing to do for someone – be sure you read the terms of the agreement carefully. Have a trusted attorney review it. You could be glad you did.”

Read the full article from Realty Times.

For your next title order or

if you have questions about what you see here, contact

Stephen M. Flatow, Esq.

Vested Title Inc.

165 Passaic Avenue, Suite 101

Fairfield, NJ 07004

Tel 973-808-6130 - Fax 201-656-4506

E-mail vti@vested.com - www.vested.com

Sphere: Related Content