WILL THE $700B BAILOUT REALLY HELP HOMEOWNERS FACING FORECLOSURES?

When some of the biggest investment firms declared bankruptcy last month, it resulted into widespread panic in the entire financial industry. In order to prevent the nation from falling into a recession, the government immediately came up with a bailout program, worth about $700 billion. Despite the huge budget allocation, many homeowners at risk of losing their homes to foreclosure are wondering if the supposed benefits of the multi-billion bailout program will reach them.

For most of these troubled borrowers, such possibility is very little. This is considering that the bailout plan is meant to stabilize the economy and allow banks to have enough money to lend. The problem is that many of these lenders have become more cautious when it comes to approving loans including mortgages, car loans and even credit card applications.

To make matters more difficult for these struggling homeowners, the inventory of new and existing homes for sale in the market has continued to grow and has even caused home prices to decline considerably, especially in areas hit hardest by the subprime mortgage mess. With such market conditions, selling their homes is out of the question.

Both consumers and housing advocates are not pleased with the decision of the government to bailout these large corporations instead of using the money to help distressed homeowners. For them, these giant investment firms were the ones who funded the hybrid and subprime loans, which were considered to be the culprit for the current foreclosure crisis.

With challenging times in the real estate industry and the economy CENTURY 21 Real Estate LLC now offers the MAP (Massive Action Plan) workshop in a new live, virtual format that is more accessible to all CENTURY 21 System members.

We are proud to congratulate Franklin (Bruce) Needhammer, Cindy Ziccarello, Geraldine (Geri) Hampton, Karen Vilardi and Maria Dargan for taking on the challenge. This very energetic group is participating in the group that started in September. Approaching session 4 they are tracking and reporting their successes.

The Team meets every Monday to apply the lessons learned in the Wednesday afternoon live workshops. Cheryl Needhammer, company Mentor is sitting in on the Tuesday afternoon manager workshops and assisting me with the coaching and training. The agents, managers and coaches are working together to “work their plan” throughout the 13 weekly sessions.

Every finisher is a winner. An award will be presented to recognize the winner of the challenge and their accomplishments during the 13 weeks. MAP agents will be competing for cash prizes up to $10,000! Good luck to all.

Recipe Of The Month •3 sweet potatoes, peeled & sliced •2 tbsp. butter •1/4 c. agave syrup •1 tsp. grated orange peel •1 tsp. grated lemon peel •1 tsp. grated lime peel •1/2 tsp. ground cinnamon •1/4 tsp. ground clove •1/4 tsp. ground nutmeg •1 Orange, peeled & diced •1 Lemmon, peeled & diced •1 Lime, peeled & diced •1 Apple, cored, peeled & diced •1/2 c. Cranberries •1/2 c. Raisins Boil potatoes 15 to 20 minutes or until tender. Preheat oven to 375 degrees. Spray 8x13 pan with cooking spray. Line potato slices in pan standing on edge. In a large bowl, mix all fruit and pour in spices and agave syrup. Using a teaspoon, place about 1/2 spoonful of the fruit mixture between every two slices of sweet potato. Place dots of butter on top, and pour any liquid from the fruit, then cover the casserole with foil. Bake 20 to 25 minutes or until heated through. Serves about 8. Thanks to Chef-Bruce Needhammer

Curb appeal is the first impression conveyed to prospective buyers. There was a time when the initial view of a home was when the buyer pulled up in front. Now, however, many people view a home via online photos. The attractiveness of photos is extremely important in today’s electronic world. We need to make buyers want to tour a prospective home. Here are a few helpful tips to create flattering photos of your listings:

Have an attractive front exterior photo, making sure you have a clear view trying to avoid cars, trees or other objects like garbage cans.

Have natural lighting. Before taking an interior picture, open up blinds or pull back curtains and let the sunlight in. Make sure the light is behind you to avoid glare. If there is no natural light available then turn on some lamps.

Have the majority of a room in one photo, if possible, so buyers can see the entire room. Take –photos by standing in the corner or in doorways. Avoid photos that contain just the shower curtain in a bathroom!

Minimize furniture. Buyers want to visualize their stuff in the home without the feeling that there is not enough room. The living room should contain a couch or loveseat, coffee table and entertainment center. Leave out the exercise equipment. Stage your photos!

Remove the clutter before taking the photo. Avoid pictures that contain a sink full of dishes. Clear the counter space; remove refrigerator magnets, toys and other distractions.

Show photos of the outside as well as the inside. Buyers like to see the landscaping. Take photos of the back and sides of the home as well. This is great for those with children so they can see there is a place to play. Have photos of decking, pools and other special attractions.

Not every photo is perfect. Take the time to fix imperfections. With the use of basic editing software, you can crop photos, adjust brightness and shading on a sunny day. Be sure the photos reflect reality. Don’t create images that do not exist.

Choose your photos carefully. Don’t leave buyers wondering “What is that?” Capture the buyer’s attention!

Affirmation: Be filled with awe at the magnificence of nature that surrounds you every day. If you look for the harmony and peace on this planet, you will powerfully add your energy to the love, well-being and joy that is ever present on Planet Earth, and you will also see a new world unfold before your eyes. -Karen Vilardi

If you are a first-time home buyer, the news for you in most parts of the country is good. Mortgage rates are relatively low and higher inventory and lower asking prices mean market conditions are in your favor. If your finances are in order, now is the time to start that home search.

Begin with some good, old-fashioned preparation. Carefully review your budget. Determine how much you will have to offer as a down payment and how much you can afford to pay monthly. Remember to calculate not just your mortgage payment, but all your costs including taxes, utilities, food, entertainment, insurances, etc. Getting a good handle on your finances is critical to making the right real estate decision.

Next, think long and hard about what you want from this purchase. Is it a starter home that you want to stay in less than five years? Or maybe you want a home that can accommodate a growing family. Take some time to define your parameters like location, number of rooms, school system, and proximity to transportation.

Once you have outlined your budget and your wants and needs, you are ready to begin viewing listings online and in person. A real estate professional can be a huge asset during this process. He or she can prescreen homes and make sure they fit your budget and your needs. An agent can also provide insights on whether the asking price is fair and help identify a listing's strengths and weaknesses.

But even with this help, keeping track of all the pros and cons can be a challenge. Many first-time buyers keep a log or journal during their search. When you visit homes, ask if you can take pictures of the property. At the same time takes notes. Write down the things you love, like and dislike about each listing. In the end, a combination of thorough preparation, a good REALTOR® and organization can help make your first-time purchase a successful one.

Purchasing a home is an exciting and daunting task in itself, but the “first time” an individual begins his/her journey down the road to home ownership may leave them feeling uncertain and overwhelmed. The path to home ownership is not straight and narrow, so it is in the best interest of first-time homebuyers to direct questions to the professionals.

With this in mind, CENTURY 21 At The Shore Realty reached out to first-time homebuyers at a seminar held in their honor on Thursday, October 9 at the Berkeley Recreation Center. When purchasing a “first” home many questions surface and it is important to get answers from industry insiders who deal with all different scenarios on a daily basis.

Most first-time homebuyers are thinking: “How much house can I afford?” “How do I know which type of mortgage is right for me?” “What does my mortgage payment include?” “How much cash will I need to purchase a home?” “What is the difference between a fixed-rate and adjustable-rate loan?” “How do I know my agent has my best interest in mind?” These questions, and many more, were tackled allowing first-time homebuyers to take control of their home buying experience.

Megan Kurtz of Surety Title; Josh Blair of Professional Home Mortgage; Bob Hodges of Hodges Inspection; and Debra Himber, of Himber & Stork, a firm specializing in Real Estate Law presented key points that homebuyers should be aware of during a transaction. Many situations were discussed and there was great deal of audience participation. Questions flew to the panel, one after another, and the energy to both glean and offer information was quite apparent.

It is our hope that the information imparted by the panel put our guests at ease, supplying them with enough confidence to take advantage of this historic buyer’s market. The most important theme throughout the night was that buyers should surround themselves with professionals they trust and will be actively involved in the entire transaction so that any obstacle will be handled quickly, with authority, to get to the closing table.