My New Outside Blog

According to a new report released last week by Capital Economics, the housing crisis is expected to end this year as banks loosen their credit standards. The report shows an average credit score needed to obtain a mortgage is now 700. The number is still higher than it was before the crisis, but it is much better than a year ago.

Another survey from the Federal Senior Loan Officer, shows credit requirement in the last quarter of 2011 were consistent with the prior three quarters. Combined with these reports, there are many indicators that point to housing stabilization and more available credit. Now, banks are lending up to 3 ½ times the borrowers earnings. This is an increase from 3.2 during the crisis.

In addition, many banks are loosening the loan-to-value ratios, which is a clear sign of improved credit conditions. Many banks are now lending an average of 82 percent, which is higher than the 74 percent lending average in 2010.

However, even though there has been some slight loosening on credit conditions, many potential buyers are still having trouble meeting the credit requirements. Capital Economics reports 8 percent of potential buyers could not qualify for the loan, which ended up cancelling many contracts.

While the news of loosed credit standards opens the doors for great opportunities, it does not mean there will be actual housing price gains across the nation.

Originally posted at: http://livinginstgeorge.com/2012/01/31/housing-crisis-horizon-banks-loosen-credit-standards/

Erika Rogers, your St George real estate specialist

Stout & Associates Realty

Please feel free to contact me at 435-229-8801 if I can assist you in any way with St. George Utah Real Estate or St George Utah Homes for Sale. You can also search the entire St George Utah mls from my Facebook page. Check it out!

 

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6D7B8B9E-B91E-EAC7-4C43-4A6F03F3E639

1.02.28

I met a man who sold a house
He sold a house just like a mouse
Just like a mouse who sneaks around
He sold the house without a sound.

(OK, as a poet I am lacking... but stay with me here) And how did he sell the house without a sound? The story is rather odd, yet to me it was so telling I asked him if I could blog about it.

Blog? He had that look on his face... My business partner chimed in and said "blab, she wants to blab about it all over the internet." He shrugged his shoulders and said he didn't mind.

All day long yesterday I thought about his story, there are so many lessons, each time I think about it I think of yet another lesson. Let me get right to the story here.

He told me he sold a house at a tag sale... I love tag sales at listings I have. Let me do the open house on the same day you do your tag sale (We call them tag sales in CT, some may call them yard sales, garage sales, you get the point.)

A few years back he heard about a house, a couple who could no longer live in their home due to age and illness. The family had told the accountant they just wanted to get rid of the home because mom and dad were hoarders. The man I  met bought the house with all the contents in it. Bought it for a very low price I might add.

18 dumpsters later....

It took 18 dumpsters ... but the house was in good shape! He held tag sales there while cleaning it out. He was not intending to sell the house, but someone who came to the tag sale offered him what they thought was a low price for the house.

IT WAS $100,000 MORE THAN WHAT HE PAID FOR IT JUST A FEW MONTHS EARLIER!

He took the money and ran. I mean, who wouldn't? So here is what ran through my mind.

Why didn't the family speak with a Realtor? He said because they were too embarrassed, didn't want to deal with it, on and on. That cost the owners $100,000.

Why didn't the family just hire someone to come in and clean the house out when the parents moved out? Did they have the resources to do that? Yes they had the resources, but felt it was too much trouble.

OK, now I am just shaking my head here in total disbelief. The moral to the story? I think there are many.

• Clean it up, clean it out.
• Speak to a Realtor if you are thinking about selling.
• Tag sales are a great thing, hold a tag sale and let your Realtor hold an open house at the same time.

I don't know about you, but I am still shaking my head here! I am sure I can come up with more lessons learned. It is a fantastic story. Will this gentleman use a real estate agent when he wants to sell another house? You bet, he knows this happened only because someone else didn't want to, he's no dummy!

I met a man who sold a house....

Andrea Swiedler, Realtor® Liddy Adams, GRI, Broker Associate

Cell: 203.460.1775  Email: andrea@andreaswiedler.com 

Swiedler & Adams, we know real estate!

Search Homes for Sale in Litchfield County CT.

 

Prudential Connecticut Realty, New Milford & Litchfield, CT

Swiedler & Adams

Call me at 203.460.1775

© Andrea Swiedler, 2009 - 2012

 Always do right. This will gratify some people and astonish the rest. - Mark Twain

I met a man who sold a house
He sold a house just like a mouse
Just like a mouse who sneaks around
He sold the house without a sound.

(OK, as a poet I am lacking... but stay with me here) And how did he sell the house without a sound? The story is rather odd, yet to me it was so telling I asked him if I could blog about it.

Blog? He had that look on his face... My business partner chimed in and said "blab, she wants to blab about it all over the internet." He shrugged his shoulders and said he didn't mind.

All day long yesterday I thought about his story, there are so many lessons, each time I think about it I think of yet another lesson. Let me get right to the story here.

He told me he sold a house at a tag sale... I love tag sales at listings I have. Let me do the open house on the same day you do your tag sale (We call them tag sales in CT, some may call them yard sales, garage sales, you get the point.)

A few years back he heard about a house, a couple who could no longer live in their home due to age and illness. The family had told the accountant they just wanted to get rid of the home because mom and dad were hoarders. The man I  met bought the house with all the contents in it. Bought it for a very low price I might add.

18 dumpsters later....

It took 18 dumpsters ... but the house was in good shape! He held tag sales there while cleaning it out. He was not intending to sell the house, but someone who came to the tag sale offered him what they thought was a low price for the house.

IT WAS $100,000 MORE THAN WHAT HE PAID FOR IT JUST A FEW MONTHS EARLIER!

He took the money and ran. I mean, who wouldn't? So here is what ran through my mind.

Why didn't the family speak with a Realtor? He said because they were too embarrassed, didn't want to deal with it, on and on. That cost the owners $100,000.

Why didn't the family just hire someone to come in and clean the house out when the parents moved out? Did they have the resources to do that? Yes they had the resources, but felt it was too much trouble.

OK, now I am just shaking my head here in total disbelief. The moral to the story? I think there are many.

• Clean it up, clean it out.
• Speak to a Realtor if you are thinking about selling.
• Tag sales are a great thing, hold a tag sale and let your Realtor hold an open house at the same time.

I don't know about you, but I am still shaking my head here! I am sure I can come up with more lessons learned. It is a fantastic story. Will this gentleman use a real estate agent when he wants to sell another house? You bet, he knows this happened only because someone else didn't want to, he's no dummy!

I met a man who sold a house....

Andrea Swiedler, Realtor® Liddy Adams, GRI, Broker Associate

Cell: 203.460.1775  Email: andrea@andreaswiedler.com 

Swiedler & Adams, we know real estate!

Search Homes for Sale in Litchfield County CT.

 

Prudential Connecticut Realty, New Milford & Litchfield, CT

Swiedler & Adams

Call me at 203.460.1775

© Andrea Swiedler, 2009 - 2012

 Always do right. This will gratify some people and astonish the rest. - Mark Twain

Be Safe ~ Not Sorry...
     When potential buyers look at a property, they are looking at the aesthetics not the functionality or safety features. When the untrained eye looks at the photo below, one sees a sees a cool looking stairwell, loft and a nice clean open space.

However, the trained eye of the home inspector sees something different.

     1. Even though this is an older property, the balusters (spindles) on the guardrail and handrail exceed the current 4” spacing required for child safety.
     2. The placement of the smoke alarms on both levels of the property are incorrect. Typically, they should be place within 12" of the ceiling.
     Properly placed smoke alarms are vital for the safety of you and your family. In most states, properties that have been rehabbed need to be brought up to current standards of safety. These are some of the issues found with this property:
     1. The alarms were not wired together – when one-alarm signals, all should signal.
     2. The alarms were not installed in the bedrooms. Current safety standards require all smoke alarms to be placed in each bedroom and hallway of in each level of the property.
     3. There was no function smoke alarm in the basement or the garage.

Did you know...
     · Smoke alarms monitor the air 24 hours a day, every day. After 10 years, it's been on the job for over 87,000 hours. At this point in its life, it stands a 50/50 chance of failure. Do you want to trust your life to an aged device?. If you don’t know how old your alarm is, or if it is more than 10 years old, replace it.
     · The battery back up in all alarms needs to be replaced annually.
     · Smoke alarms need to be tested monthly.
     · Vacuum the outside covers periodically to remove dust, dirt particles and insects.

For all your inspection needs in the Brentwood, Franklin & Nashville TN real estate markets

Call us today:

Complete Home Inspections, inc.

The guys with the hats...

615.661.0297

Brentwood, TN

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TEXAS BLUEBONNETS!

If you have never been to Texas when our state flower the Bluebonnets are in bloom, you have missed out!  These gorgeous wild flowers will blanket almost every roadway in Texas during March and April.  This year we might be seeing them a little earlier due to the spring-like weather that we have been having.

People will come out in droves to photograph these flowers!  It is a favorite thing to do to take the family and have  those family pictures taken in the flowers.  The pictures of babies in the Bluebonnets are especially lovely!  Just be careful to make a lot of noise to scare away any snakes that could be lurking there!

The Woodlands will have Bluebonnets popping up all over the place!  The medians and the sides of the road will be covered in them!  Be watching as I think they are getting ready to poke their pretty little heads up!

Come and see our Texas Bluebonnets!  You won't be disappointed!

Paula Hamilton~McDonald ~ REALTOR^®

Broker ~ Managing Principal

        9595 Six Pines Drive, Suite 8210 ~ The Woodlands, TX  77380 ~ 936-203-0279

Selling The Woodlands real estate and surrounding areas!

Paula@ChevauxGroup.com

 

Copyright 2011 Paula Hamilton~McDonald