Video Tips

How Far Has Google Come to Help Sell Your Home

Ever heard of Google? In case you’ve been living in a cave since 1997, here’s The Google Story in 2 minutes.

Did you recognize any features and/or applications that Google has released over the past 10 years? Better yet, do you use any of them? I know I certainly do. So, how can Google help sell your home faster?

Understanding patterns and trends were just the beginning for Google but it also happens to be the start point for every real estate agent. Not understanding real estate cycles and patterns in your local real estate market can lead to lost dollars and much frustration.

Think about it for a second. Why is every home offered for sale start with a comparative marketing analysis (aka CMA) and end with a valuation of property through a licensed appraiser?

The answer is simple. Home sellers and home buyers want to know which direction home prices are trending. This allows home sellers a solid foundation on how to price their home for today’s real estate market. It will also reaffirm the home buyers confidence that they did get a great deal on the purchase of a home today.

Beyond getting a grasp on real estate market trends, did you know that Google can help sell your home faster through it’s vast brand awareness and marketing prowess. It’s true.

How would anyone know that you actually wanted to sell your home if you never marketed your home for sale. They wouldn’t! Consequently, that’s why every Realtor offers to put a home for sale sign in your yard and broadcast that your home is for sale to other Realtors through the mulitple listing service (MLS).

Is this good enough in today’s real estate market? Absolutley not.

The whole premise of using a yard sign and the MLS is to get your home marketed to the largest eligible pool of home buyers. Where better to market your home for sale than on the number one website in terms of web traffic, unique visitors and page views. That’s right! Google.

If you would like to learn more about Google Tools for Real Estate Professionals, by all means buckle up and go for it. Or, you can work with a local Realtor who already knows how Google can help sell your home faster.

Why All The Confusion About The Good Faith Estimate 2010

Although the Good Faith Estimate (GFE) 2010 became effective nationwide on January 1st of this year, there is no other federal form in the home loan application package that creates more anxiety and confusion. 

The Good Faith Estimate is suppose to help consumers become better shoppers of real estate settlment services by creating more transparancy of home loan fees for the borrowers, which also happens to be one of the primary goals of RESPA (Real Estate Settlement Procedures Act of 1974).

So…why all the confusion then?

On November 17, 2008 the US Department of Housing and Urban Development published new RESPA regulations that created a tidal wave of regulatory change in the real estate industry. Watch this short video.

Here is a brief recap of both the good and the bad highlights of new Good Faith Estimate 2010.

Good Faith Estimate 2010 -- PROS:

• Discloses if a borrower has an escrow account
• Discloses the rate lock period to the client
• Discloses to the borrower if the rate can adjust

Good Faith Estimate 2010 -- CONS:

• Borrowers total housing payment (PITI+MI) is missing
• Borrowers cash-to-close is not shown
• CANNOT issue a GFE without having a complete loan application

In HUD’s effort to simplify the disclosure of home loan fees, they took a one page document with itemized breakdown of estimated costs and converted it to a 3 page discosure with lump sum totals.

Still confused? Don’t fret. There is also a mandatory, 48-page supplemental, HUD’s Settlement Cost Booklet to help clarify any questions you may now have. Otherwise, contact me anytime for all your mortgage needs.

Pay or Save? Which Household Bills Should You Pay First?

Morning television can be “light”, but as far as personal finance interviews go, this Suze Orman segment from The Today Show is loaded with practical financial planning advice.

Titled “What Should You Do First?”, Ms. Orman addressed the real-life, money management conundrums households face, such as:

• Should you pay off credit card bills, or create an emergency cash fund?
• Should you pay off student loan debt, or pay off credit card bills?
• Should you save for a child’s college tuition, or save for my retirement?

A half-dozen scenarios like the ones above are included, explaining what to do, and why to do it.

Ms. Orman’s style may not interest you and financial advice is rarely universal, but the piece is worth watching.

Want to discuss other scenarios relevant to your household? Contact me today to review your options.

Shopping Online? Quick Tips to Protect Your Identity

In May 2010, Retail Sales at non-store retailers — a category that includes Amazon and eBay — topped $29 billion, up 16 percent from May 2009. Clearly, Indiana and Illinois residents are doing an increasing amount of shopping online.  And we’re paying our bills online, too.

But how well are we protecting our identities?

In this 5-minute piece from NBC’s The Today Show, you’ll learn the basics of online fraud and methods to minimize the likelihood of identity theft.  Furthermore, the tips go beyond the basic “choose a challenging password”.  For example, you’ll hear about:

• Why you shouldn’t pay bills from a coffee shop
• Who might be hiding behind an unprotected public wifi network
• The dangers of storing credit card numbers with an online retailer

Although the interviewee goes over the top at one point with respect to spyware and anti-phishing prevention, the point being made is a good one — you can’t be too careful with your online financials and common sense goes a long way.

Do you have any other tips on protecting your online identity? If so, share them in the comment section.

Clock is Ticking – Should You Refinance Your Home Loan?

Because of strife in Greece, Spain and North Korea, conforming mortgage rates are back to all-time lows. They’re at levels not seen in 50 years.  For Indiana homeowners that missed the Refi Boom of November 2009, it’s a second chance.

In this well-presented, 3-minute video from NBC’s The Today Show, you’ll get tips getting low rates and choosing the best time to lock in.

Some of the topics covered include:

• Why were the experts wrong about rates moving higher this summer?
• How much money can you save with a 1 point drop in your interest rate?
• Should you buy a bigger home now that rates have fallen?

The advice in the piece is matter-of-fact and centered.  There is no cheerleading and the message is honest. Mortgage rates are low and they likely won’t stay that way.  If you’ve been thinking about a refinance, talk to your loan officer as soon as possible.

Fight Your Real Estate Property Tax Bill Without A Lawyer

More than 60 percent of U.S. homes are “over-assessed”, says an industry trade group. Homeowners in Valparaiso pay more in property taxes than they otherwise should have to.  You might be one of them.

Have you considered fighting your real estate tax bill?

In this 4-minute piece from The Today Show, you’ll learn:

• When to file your tax bill dispute for the best chances of winning
• How to pull your “property card” and check for tax bill-raising errors
• What to do if the taxing authority turns down your request

Most importantly, you’ll learn that don’t need to hire an attorney to fight your tax bill.  You just need to be prepared.  Do your research and make your case. It’s estimated that nearly half of all contesting homeowners are successful.

Contact James K Barath in Valparaiso Indiana to Qualify for Your FREE FHA Home Loan Approval Today!

How To Get Tax Credits Back Even If You Already Filed

Taxes are due April 15 and if you’re among the millions of Americans who wait until the last week to file, here’s a video interview that could help you reduce your federal tax liability. 

Originally broadcast by NBC’s The Today Show, the 4-minute piece reviews various tax credits and deductions, plus some recent tax law changes.  A few of the topics covered include:

• Tax filers receiving larger “personal exemptions” in 2009 versus 2008
• Unemployment income recipients being required pay taxes beyond the first $2,400 received
• The “first time” home buyer credit being extended to non-first time home buyers for up to $6,500

The interview also talks about how taking a parent, child or other family member into your home may change your tax filing status and reduce your tax liability.

Even if you’ve filed your taxes already, watch the video above. You may find that you missed a potential deduction. If that’s the case, consider filing an amended return with the IRS to recapture the credits you left on the table.  Most times, the benefits of re-filing will outweigh the costs of doing it.

Be sure to talk with your tax professional for personal tax advice.

Contact James K Barath in Northwest Indiana to Qualify for Your FREE FHA Home Loan Approval Today!

Average Household Gets $2,800 IRS Tax Refund. Will You?

April 15 is Tax Day and the IRS estimates that the average U.S. household will receive a $2,800 tax refund this year.  If you’re among the Americans expecting a refund, this 4-minute piece from NBC’s The Today Show may be helpful. It’s a talk about how to receive a refund and what to do with it.

Some of the key points discussed include:

1. Why state-issued tax refunds may be delayed this year
2. How wage-earning people can claim their “Making Work Pay” tax credit of up to $800
3. How to direct a tax refund to a 529 college savings plan for an even bigger tax refund

There’s also some sensible pointers on using tax refunds to pay down credit card debt, and to fund retirement plans, among other purposes.

If you haven’t started your tax planning yet, try to avoid leaving it for the last weekend.  Not only will your tax preparer have more time for you now, but you’ll leave yourself more time to track down important statements and receipts that can boost your federal and state tax deductions.

Taxes are due in 21 days.

I would appreciate any thoughts or comments you might have on this subject. If you are in need of a Certified Public Accountant and/or Certified Bookkeeper in Northwest Indiana, please feel free to give me a call so that I can recommend a trusted professional.

Contact James K Barath in Northwest Indiana to Qualify for Your FREE FHA Home Loan Approval Today!

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