Leslie's Blog

I was readying USA Today online and ran across this article in the "money" section:  Foreclosure hurts long after home's gone, so cut a deal while you can.  This is not the most pleasant subject but one that is very important and touches all parts of the country.  Foreclosures are also happening with all kinds of property and price ranges.

The article discusses the optiions that homeowners have that they may not know about.  Here are a few they mention:

• Put your home up for sale. This may be the best choice, Walters says, if you've been in your home for several years and have built up some equity. If your local real estate market is strong, your lender may agree to forgo payments until the house is sold, says John Jones, a financial specialist at ComPsych, an employee-assistance program. The proceeds from the sale might cover your mortgage and selling costs.

• If you have no equity or your local real estate market is depressed, ask your lender to consider a "short sale." In a short sale, the lender agrees to accept the proceeds from the sale of your home, even if they don't cover the amount you owe.

Our Brokerage Office just had a lender come in and discuss this issue.  One of the first things he said is that many homeowners are in denial that they have a serious problem.  The sooner they look at the situation clearly, the sooner they can start to work on the solution that best meets their needs.  The worst thing to do is ignore the problem and hope it goes away.  Your Realtor can be a great help to you during this very difficult time.

  
Please visit my site for information and support.  Seattle, Bellevue, Wallingford and Redmond, Washington Real Estate Property Listings  

I just read an article on Yahoo, Finance from "The Street.com" entitled "10 Reasons You Aren't Rich".  Pretty catchy title isn't it!  I always get sucked into reading these things.  Probably because saving money was what was preached in our family from day one (besides the Golden Rule).  Somehow, I didn't get it passed on to my kids quite as strongly.

Anyway, it is a good article and here are their first two reasons:

1. You Care What Your Neighbors Think: If you're competing against them and their material possessions, you're wasting your hard-earned money on toys to impress them instead of building your wealth.

2. You Aren't Patient: Until the era of credit cards, it was difficult to spend more than you had. That is not the case today. If you have credit card debt because you couldn't wait until you had enough money to purchase something in cash, you are making others wealthy while keeping yourself in debt.

Many times I have thought about the fancy neighborhoods some people live in and the pressure the homeowners would have to keep up with each other.  A few years ago I visited an old friend that had "moved up" into a much higher price bracket.  It was Christmas time and he told me that all the other home owners had hired decorators to put up the lighting etc.

I love looking at the fanciest of homes and enjoy seeing how decorators put things together.  It just isn't me.  I like living in Seattle in a much smaller home.  It is easier to maintain, both financially and physically, and if we keep the yard up and the house painted--the neighbors are happy.  

Please visit my site for information and support.  Seattle, Bellevue, Wallingford and Redmond, Washington Real Estate Property Listings 

I enjoy stories about people's lives--especially when they are a success story.  I was looking in Yahoo Finance and found an article under "Entrepreneur of the Week" entitled Meet Ms. Fix-It

It is about "Barbara K" (Barbara Kavovit) Founder and CEO of a company that in 2005 had revenue of $12 million.  She is smart and proactive, found where there was a need and filled it in a big way. 

She has a great website http://www.barbarak.com/   It has her products listed and step by step guides to home enhancement and repair projects.  This week the How-to-Project of the Week is "Install a Carbon Monoxide Detector."  

Here is some of what the article says: 

"My first job I took after college was as a financial analyst. I was living at home in New Rochelle, N.Y., at the time, and it was actually kind of boring. Then one day I heard my mom talking to some of her friends about how hard it was to get things done around the house without a man around, like hanging picture, fixing a leaky faucet, and tightening a doorknob. That's when a light bulb went on for me.

"I realized that women are tired of having to rely on men to help with home improvements. I thought women might like to deal with another woman instead. So I went to a local printer to have some business cards and fliers made up. Then I went to the mall and started talking to women about how I had just started a home-improvement business and asked whether there was anything I could help them with."

I am impressed by what she accomplished and amazed that she started at such a young age.  Since my late husband and my father passed away, I find I really miss having someone that can fix anything and do a good job.  It is hard to find someone that is capable and dependable.  I am going to start learning how to do things myself.

  
Please visit my site for information and support.  Seattle, Bellevue, Wallingford and Redmond, Washington Real Estate Property Listings

In case you missed me, I was busy Monday and Tuesday taking the Seniors Real Estate Specialist Course.  I have enjoyed taking classes since I first started studying for my Real Estate License and this one is one of my favorites.  This course has a designation program and I will be proud to advertise that I have it.

This course gives information and resources that is not just for seniors but for boomers that are concerned about their older friends and relatives.  We listened to a speaker talk about 1031 exchanges because a large number of home buyers are buying a second home (which could be a rental property). 

Another speaker discussed reverse mortgages did you know:

• Borrower retains ownership and occupancy of home
• Easy access to equity built in home
• Tax-free* equity release
• No monthly mortgage payments
• Interest is tax deductible*
• The ability to access equity built in the home since its purchase
• No income qualification Lender has no claim on  borrower's income or assets other than the value of the home
• All borrowers must be 62 years or older
• No repayment is made until the home is sold or the last borrower permanently moves out or passes away

I was quite impressed with both of these speakers and would be glad to give you their names.   They came highly recommended.

It is important to let mature clients know that they have options.  They have choices of relocating locally or to another part of the country, they may want to consider a vacation home or they may need information on different kinds of senior housing and what services they provide.

It is also good to be able to provide resources for information or experts that they may need or be interested in.   For example, community services, tax specialists, a qualified financial planner, and the Gold Card for Healthy Aging (senior identification card).

If you have been following my blog, you probably know my mother is a very active, independent 82 year old.  She is still amazing me.  Today, I came out of my home office and found her wearing a pair of surgical gloves and there was a strange smell in the house-- so I asked her what she was doing.  She said she was putting down some linoleum and she asked me if I would please hand her a couple of paper towels.  Yesterday, she was busy trimming bushes.  She does this stuff because she wants to and because she still can.

As I have mentioned in the past, I do volunteer work at the Wallingford Senior Center in Seattle.  Meeting these people is very interesting to me and I enjoy listening to their stories.  I hope to be of more help to them in the future.