Z House Realty Group

How foreclosure Impacts Your Credit Score

Janice M. Ziesig — Thu, 06 May 2010 13:03:00 GMT

As Realtors actively closing short sale transactions, sellers frequently ask us how the short sale will effect their credit. Now, thanks to CNNMoney.com, we have a great new resource to share. Following you will see a snippet from Les Christie’s full article: “Here are the average hit your credit will take: 30 days late: 40 - 110 points 90 days late: 70 - 135 points Foreclosure, short sale or deed-in-lieu: 85 - 160 Bankruptcy: 130 - 240 To come to these figures, Fair Isaac created two...(read more)

End of Home Buyer Tax Credit Unlikely to Deter Most Real Estate Buyers

Janice M. Ziesig — Sat, 01 May 2010 13:13:00 GMT

The 2010 Home Buyer Tax Credit has officially expired. So, what does that mean to the real estate market? According to a survey released by Prudential Real Estate and Relocation Services, Inc., Americas looking to purchase homes still believe that now is a good time to buy and are confident that home prices will rise. The survey was comprised of 1,000 Americans, ages 25-64, with at least $35,000 household income, completed April 15-20, 2010. According to the survey, more than 90% of consumers believe...(read more)

Two-to-go.... Two More Days to Qualify for the 8K Buyer Tax Credit

Janice M. Ziesig — Thu, 29 Apr 2010 12:14:00 GMT

To take advantage of the 8K first time buyers tax credit , you need to be under contract by April 30th. So, decision time has come.... Remember the contract must close by June 30th. Some new construction homes still qualify, so don’t forget to explore that great option! For members of the military, foreign service and intelligence communities may have an additional year to buy a home and claim the homebuyer tax credit. To qualify for the extended credit deadline, service members must have served...(read more)

Your landlord got foreclosed? What about your lease?

Janice M. Ziesig — Tue, 13 Apr 2010 11:32:00 GMT

With the large number of investment homes being foreclosed upon, it shouldn’t come as a surprise that many tenants are being asked to leave. What might surprise you is that they don’t have to go. A lease supersedes a sale. Meaning that it transfers with the property to the new owner. Based on the Protecting Tenants at Foreclosure Act, which Congress passed last May, as long the tenant has a valid lease and proof of regular payments, they cannot be forced to leave. Even tenants on a month-to-month...(read more)

10 Homeowner Tax Advantages

Janice M. Ziesig — Mon, 12 Apr 2010 14:40:00 GMT

If someone asked you to name the many tax advantages to owning a home, how many would you come up with? Here are 10 Homeowner Tax Advantages: Homebuyer Tax Credits Deductions for loan fees Property Tax Deductions The Mortgage Interest Deduction Private Mortgage Insurance Home Office Expenses The Costs of Selling Your Home The Gain on Your Home Energy-Efficiency Tax Credits Capital Improvements To Your Home For more great articles on Taxes and Incentives, visit www.HouseLogic.com. Combined Sources:...(read more)

Do you know the value of your Avalon Park home?

Janice M. Ziesig — Sun, 11 Apr 2010 11:25:00 GMT

Looking for your Avalon Park’s home value? This great customizable too l provides answers to the following que stions: How do actual selling prices compare to listing prices in Avalon Park? How are homes within a 5 mile radius selling? Unsold homes in Avalon Park? Where can I get answers to any pressing questions I may have? The best part it is, you have control over how frequently you receive the information and your criteria. The market snapshot is great for monitoring your existing homes...(read more)

Make Your Moving Day a Success

Janice M. Ziesig — Tue, 06 Apr 2010 12:40:00 GMT

8 Weeks Before the Move Contact a professional mover or truck rental and get estimates: make early reservations. Decide what furniture stays and what furniture goes. Use up things that cannot be moved (frozen food & flammable household aerosol cleaning supplies) 6 Weeks Before the Move Inventory your possessions and determine what will be sold or donated. Get copies of records from doctors, dentists, lawyers, accountants, etc. Transfer children's school records. 4 Weeks Before the Move Hold...(read more)

You’ve Got Less Than 30 Days to Take Advantage of the 8K Tax Credit, Here are 8 Tips to Help

Janice M. Ziesig — Mon, 05 Apr 2010 15:43:00 GMT

April 30th is the deadline to be under contract in order to take advantage of the government tax credits. Here are some tips to help eager Orlando Home buyers to capture the tax credit and simplify the shopping process: 1. Get to know your market. Use the internet to see homes, maps, neighborhoods, etc. Find a good real estate agent who is ready to expedite the shopping process. 2. Secure your financing up front. Talk to a reputable lender up front and go through the pre-approval process so you know...(read more)

Free Credit Reports, Not So Free

Janice M. Ziesig — Sun, 04 Apr 2010 20:51:00 GMT

Everyone has heard the jingles on t.v. and the radio encouraging you to pop online and get your FREE CREDIT REPORT. However, what those ads don’t talk about is the big up-sell... Well, the FTC received over 1000 complaints from consumers who thought they were getting the one free report the FTC provides each year, but instead were unknowingly signing up for credit monitoring and other services. The result is a new law that goes into effect next Friday requiring any website providing free credit...(read more)

8K Tax Credit, Time is Running Out

Janice M. Ziesig — Mon, 29 Mar 2010 11:13:00 GMT

If you are planning to take advantage of the $8,000 and $6,500 government tax credits, some important dates are fast approaching.... You must be under contract by April 30th and closed by June 30th. While by design these are tax credits and do not provide funds at closing, programs have been created help homebuyer’s take advantage of the funds at closing. Ask for details. Also, don't forget to consider the buyer’s income limits applied in the Worker, Homeownership and Business Assistance...(read more)

Need Home Improvements? Lenders offering equity loans again

Janice M. Ziesig — Fri, 26 Mar 2010 10:46:00 GMT

According to Moody’s Economy.com, lenders are offering home equity loans again. In fact, lenders are expected to loan as much as $36 billion in new home equity loans. What’s the difference between these and what we’ve seen in the past? How the money is being spent. According to Frank Nothaft, chief economist at Freddie Mac, most of the funds will go for necessary home improvements. He believes that consumers are managing their money better due to the “difficult recession we...(read more)

Z House Realty Group Teaches the Fundamentals of Working by Referral with 100 Days to Greatness® - Comprehensive training program by Buffini & Company helps Agents kick-start results

Janice M. Ziesig — Wed, 24 Mar 2010 11:31:00 GMT

Orlando, Florida, April 5, 2010 - Z House Realty Group will begin offering Buffini & Company’s 100 Days to Greatness® program to help both new and experienced agents jump-start their business. Facilitated by a Buffini & Company Certified Mentor™, 100 Days to Greatness teaches the fundamentals of real estate lead generation by referral, helping agents produce a consistent stream of high-quality leads and referrals. To become a Certified Mentor, Janice M. Ziesig visited Buffini...(read more)

Homeowners Now Have a Better Understanding The Value of Their Homes

Janice M. Ziesig — Wed, 24 Mar 2010 11:25:00 GMT

Back in 2008, Zillow introduced their “ Zillow Home Value Misperception Index(iii) ” with a shocking 32. Currently, the index is at -2. So, what does that mean? It means that while two years ago, people believed their homes where worth more than they where, people NOW have a fairly good idea of the ACTUAL value of their homes. If anything, they are cynical about their homes worth, which is indicated by the negative index value. The -2 index is actually the closest to zero it has ever...(read more)

30% of purchases by Foreign Investors are by Canadians

Janice M. Ziesig — Tue, 23 Mar 2010 11:33:00 GMT

Last week I met with one of my Canadian investor-owners who has two properties in Property Management in Orlando. We had a frank discussion on why she chose to invest here. She said that her reasons were three-fold, the incredible deals, the excellent exchange rate and her child’s possible choice of Florida for college. Now, obviously the college reason is not applicable to everyone. However, her other motivations are substantiated by the surge of Canadian investors flocking to the U.S. real...(read more)

Home Affordable Foreclosure Alternatives (HAFA)

Janice M. Ziesig — Mon, 22 Mar 2010 13:38:00 GMT

The U.S. Treasury Department’s Home Affordable Modification Program, known as HAMP, was created to help homeowners stay in their homes by lowering interest, principal or extending payment periods. However, they found that even with loan modifications, some people are still unable to afford their homes. Therefore, they worked to create a standardized process for short sales to assist the most needy of homeowners. HAFA applies only to the most needy homeowners and conditions: The property must...(read more)

Do You Have PMI? Be Prepared To Pay to Short Sale Your Home

Janice M. Ziesig — Sat, 20 Mar 2010 12:28:00 GMT

If when you purchased you home, you put down less than 20% - you most likely have PMI (mortgage insurance). With the huge number of mortgages in default, PMI companies have been hit hard. PMI companies are party to the short sale transaction and must sign off of the transaction or it won’t happen. In an effort to recover some of their losses, they are frequently requiring some type of payment plan for short sales. These promissory notes can vary in price but are generally a low monthly payment....(read more)

The Seller’s Agenda; The Realtors® Presentation

Janice M. Ziesig — Tue, 16 Mar 2010 15:06:00 GMT

Are you a seller? A Realtor®? When it comes to the initial meeting between both parties, it is important to understand each others agenda. The Seller’s Agenda Discover what their home is worth Determine what the agent plans to do for them Establish costs of agent’s services Determine how much the seller will NET from the sale The Realtors® Presentation Visual inspection of the property Discuss the seller’s goals, needs and expectations Establish agents qualifications and...(read more)

Foreclosure FYI

Janice M. Ziesig — Fri, 12 Mar 2010 17:26:00 GMT

There is really no “right way” to walk away from a home. You need to know the consequences, both for liability to the loan as well as federal taxes. Making the decision to just walk away doesn’t just affect you and your credit today. In Florida, lenders have up to 20 years to collect a deficiency judgment. Add to that the potential tax ramifications and it can really COST you to foreclose. While The Mortgage Debt Relief Act of 2007 (extended) temporarily provides some tax shelter...(read more)

Did You Know Your HOA Can Foreclose On Your Home?

Janice M. Ziesig — Wed, 10 Mar 2010 12:12:00 GMT

Have you noticed your association mowing your neighbors yard? Wonder why? Did you ever think that you could loose your home for $2400 or less? You can. If you fail to pay your HOA fees, the association has the right to put a lien on your home. If you cannot work out an agreement and continue to default on your HOA fees, the association has the right to foreclose on your property. They will take possession for the time it takes the mortgage company to complete a short sale or foreclosure on the property....(read more)

Alert, Alert, Alert: Deficiency Judgements Can Be Collected YEARS After You Short Sale or Foreclose

Janice M. Ziesig — Tue, 09 Mar 2010 16:20:00 GMT

One of the common mis-conceptions that owners facing foreclosure and deciding on “if” they want to “bother” with a short sale concerns their owner personal liability after the fact. Most people wrongly believe that if the “just let the house go” to foreclosure, they are done. However, it is not the case. The deficiency judgment can allow the lender to pursue recovery of funds years later. Imagine working hard to repair your credit, getting a great new job and starting...(read more)

2010 Brings Rise In Sales for Existing Homes & Condos

Janice M. Ziesig — Mon, 08 Mar 2010 19:50:00 GMT

The sales of Florida’s existing homes rose 24 percent in January 2010 from the previous year. The sale of existing condos have increased a whopping 81 percent compared to January 2009. And, according to the latest housing data released by Florida Realtors®, for the past 17 months the sales activity has increased in the year-to-year comparison. With the very favorable still-low mortgage rates, excellent inventory options and attractive prices, it is not surprising that the Florida real estate...(read more)

Orlando Foreclosure Tours

Janice M. Ziesig — Sun, 07 Mar 2010 13:38:00 GMT

From the creator’s of the Orlando Foreclosure Bus Tour - The #1 Rolling Real Estate Classroom comes Daily Mini-Foreclosure Tours. These FREE Foreclosure Tours are done daily from 10am to noon, Monday through Saturday. Attendees will start with a review of the materials covered on the 6 hour “Rolling Real Estate Classroom” and then view between 8 to 10 Bank-Owned Homes. In addition, attendees will receive an adaptation of the binders from the Original Orlando Foreclosure Bus tours....(read more)

Thinking About Selling? Here are 9 Tips from your frugal friends...

Janice M. Ziesig — Sat, 06 Mar 2010 14:39:00 GMT

You wouldn’t think that at first that a shipping website, www.freeshipping.com , would or could help you sell your home. However, they have a blog all about being Frugal and in today's market, that is news you can use! One article that really caught my eye is entitled “9 Tips to Sell Your Home in 2010.” Now, I only found 8 tips - but they are good ones: Don’t wait for recovery Make Improvements Hire Professionals Get Downpayment Assistance Take Uncle Sam’s help Price...(read more)

IPhone App: Take MLS On-The-Go With YOU!

Janice M. Ziesig — Fri, 05 Mar 2010 13:37:00 GMT

Home Seekers: Looking for active MLS listings in your area right now? Download myAgent IDX application and find your dream home now using the dynamic map search tools. Just download via ITunes and then enter our office “IDX Agent Code,” this will get you immediate access to all the active listings on the Mid Florida Regional MLS (Central Florida MLS). IDX Agent Code: 4654...(read more)

First Time Home Buyers vs. Cash Investors

Janice M. Ziesig — Fri, 05 Mar 2010 13:00:00 GMT

It is evident to all that the record low prices and government tax incentives are driving buyers in the Florida residential real estate highway down the fast lane. The question is, what are you driving? Cash Investors in GREEN bring quick close deals and fewer appraisal issues. First Time Home Buyers in RED can be halted by financing delays, appraisal re-negotiations and FHA inspections or repairs. Both first-time buyers as well as investors are taking advantage of the deeply discounted short sales...(read more)