I always like to post useful stuff that I sometimes come across. This one was emailed to me from a customer on my mailing list. (Thank you!)
GOOGLE now offers FREE Directory Assistance for BUSINESS NUMBERS. I tried it and it works great. Google connects you directly, at no cost. 1-800-466-4411
Need to order PIZZA and can't remember the phone number. Call Google's 411 and they will connect you, directly.
If you need FREE Directory Assistance for residential numbers, you can use: 1-800-373-3411.
Monday, March 31, 2008
Saturday, March 08, 2008
Monday, February 25, 2008
Property Tax Estimator
Do you ever need to estimate property taxes?
I just posted a link onto my web site from the Michigan Dept of Tresurey that can help. Here is the link on my web site:
www.gladwinrealestateagent.com/taxes.html
Wednesday, February 20, 2008
Life Expectancy Calculator
I thought this was interesting, so I thought I'd post it on here for fun.
Your Virtual Age is a reflection of your health and vitality. The lower your Virtual Age the better shape you are in. It is used to calculate the Life Expectancy of someone of your current physical age. http://www.peterrussell.com/Odds/RealAge.php
Your Virtual Age is a reflection of your health and vitality. The lower your Virtual Age the better shape you are in. It is used to calculate the Life Expectancy of someone of your current physical age. http://www.peterrussell.com/Odds/RealAge.php
Sunday, February 10, 2008
Gladwin County Ice Carnival
The Gladwin County Ice Carnival was held over the weekend.
It was a COOOOOLD Day for an Ice Race!
Sunday offered blistering COLD temperatures!
At around 11 AM, this is what my Jeep's outside temperature read!
-2 BELOW ZERO!
It was still fun to watch from the comfort of our own warm truck!
The wind was also something else! They say that the wind chill was more than 30 below!
Can you imagine how these guys felt?
You got to give them credit for getting out there!
It was still fun to watch from the comfort of our own warm truck!
The wind was also something else! They say that the wind chill was more than 30 below!Can you imagine how these guys felt?
You got to give them credit for getting out there!Tuesday, February 05, 2008
Gladwin County Ice Carnival February 9th!
Quick Note! Albright Shores Ice Carnival is being held this upcoming weekend. Click HERE for more information on their website: http://www.albrightshores.com/ice.htm
Wednesday, January 23, 2008
Gladwin Got Hammered with SNOW!
9 inches of fresh snow Tuesday morning! To snowmobilers will love it this weekend!Tuesday, January 22, 2008
40 Acres on Guernsey Road - SOLD!
The 40 acres on Guernsey Road, that adjoined the Beaverton Twp Game Refuge, sold for $97,700 at the beginning of January,Thursday, January 17, 2008
Loss Mitigation is Like a Lion's Den -- Enter at your own Risk by Janet Caldwell
Years ago by accident, my husband (a realtor)and I became interested in foreclosures and loss mitigation when "out of the blue" he lost a sale due to the fact that the seller nor listing agent had revealed to him that the house was in foreclosure and that the redemption period had just expired the day before the closing with the buyer & seller. No one involved nor any colleague could explain the foreclosure process or have any good understanding of it or how to loss mitigate. So we began our journey into foreclosures by going to the sherrif sale on the court house steps every Wednesday. Eventually with a little understanding of foreclosures we became bold enough to invest in foreclosures by bidding $1.00 more than the bank's bid on foreclosed homes. Later on, we would buy houses from homeowners that were in the redemption period to gain control of the property, fix them up, and sell them before the redemption period ended. This was back in the 80's when most people had some equity in their homes and were appreciative of just being able to get out from under their house and have some money to move. Sometimes, we bought people an automobile or traded jewelry for houses. We also began to publish the foreclosure list for Kent County in Michigan and developed a few relationships with some part-time investors. The foreclosure list in effect developed a market for investors and distressed homeowners. We promoted "Forsale by Owner." All of this time and through the 90's we never thought to try and negotiate with the bank for a short sale. We learned the hard and expensive way.
In 2002, I decided to gain more courage and began to originate loans. I was mystified by debt to income ratios, rate sheets, and how interest rates and fees were determined and applied for nonowner occupied homes. I was also becoming alarmed at all of the adjustable rate mortgages being sold to marginal and average home buyers. We were feeling the pinch ourselves and could see a lot of predatory lending taking place since my husband had also obtained his appraiser's license and then later on started a mortgage company in 2006 as our real estate venture, interests, and journey continued within the foreclosure market.
After the meltdown in the subprime mortgage business that began in early 2007, we began to loss mitigate and formed the Foreclosure Prevention Institute, LLC. The appraisal, real estate and mortgage business just dried up -- we were in a depression. Many people would call to refinance, but we couldn't help them because of job/income loss, no equity, decline in appraised values within the neighborhood, high debt, etc.. So we turned to loss mitigating in hopes of obtaining loan modifications and a little income.
It's been an interesting 6 months talking to various lenders within the loss mitigation departments. We are finding that many lenders are doing "lip service" to satisfy the laws of the land. They will lie to you and provide forbearance plans that only provide high monthly mortgage repayment or "failure" plans, because the bottom line is that all the investor wants is his money owed. With that said, there are lenders that do try to help the homeowner who is behind and/or in foreclosure. We have seen some good loan modifications in which unpaid taxes or delinquent payments are put on the back end of the loan. Often times it is the investor behind the loan or the loss mitgator who makes the difference. Some really care and others just care about moving the file off their desk by pushing the foreclosure button.
The other difficulty that we see sometimes is that once we have a work-out, the lender goes under and/or the loan is sold or moved to a new servicing company. Then we have to start all over when the forbearance plan is up for a possible loan modification which is usually 3 months. (Note that every 3 months financial documents have to be updated.) In this environment, I have been left on hold for an hour or more, disconnected, hung-up, and told several times from a few servicing companies that they don't do loss mitigation only to have their story change after a period of a month once the new company is somewhat organized with the vast amount of files given to them. One new loss mitigator said he started out with 10 files and by the end of the day had 150 files on his desk. Persistence is the name of the game. Thus, if one wants to loss mitigate and be successful the paperwork required by the lender must be complete and in order. Lenders prefer to talk to the homeowner, because it's their last chance to squeeze money out of the homeowner before foreclosure. Sometimes, though, lenders prefer to talk to an independent third party, because it can get quite emotional for the homeowner or since the homeowner has a language barrier or just doesn't understand the lender's terms, conditions, time-lines and concepts.
Perhaps, my experience here will shed some new light on loss mitigation and how to obtain a work-out solution. The homeowner needs to know that the call/collection center is a lion's den -- they are as predatory as the lenders. They want their cut too and are not regulated like the mortage companies. The homeowner needs to ask for the loss mitigation department or "Hope" center or whatever name they call themselves, and pray that they get someone who cares and is willing to work-out a fair and workable solution. Often times, no one will talk to you until you are 2 months behind in payments.
Due to bad press regarding loss mitigators, a levied sales tax in Michigan on service companies (just repealed), and the need for homeowners to save their money, our Foreclosure Prevention Institute is recommending that the homeowner do their own loss mitigating. If you are a homeowner facing foreclosure or are interested in becoming a loss mitigator, then you might want to consider getting the Homeowner's Foreclosure "Survival Kit" at foreclosurinfo.bravehost.com. As a homeowner, you will save hundreds if not thousands of dollars if you are successful in preventing foreclosure. A foreclosure is not a foreclosure until the last day of your redemption period.
About the Author
Founder of Foreclosure Prevention Institute, LLC and managing director of 1st Loss Mitigation of MI. Have 25 years experience in foreclosures. To learn more about our organization, Loss Mitigation, and the Foreclosure "Survival Kit" goto Foreclosureinfo.bravehost.com
In 2002, I decided to gain more courage and began to originate loans. I was mystified by debt to income ratios, rate sheets, and how interest rates and fees were determined and applied for nonowner occupied homes. I was also becoming alarmed at all of the adjustable rate mortgages being sold to marginal and average home buyers. We were feeling the pinch ourselves and could see a lot of predatory lending taking place since my husband had also obtained his appraiser's license and then later on started a mortgage company in 2006 as our real estate venture, interests, and journey continued within the foreclosure market.
After the meltdown in the subprime mortgage business that began in early 2007, we began to loss mitigate and formed the Foreclosure Prevention Institute, LLC. The appraisal, real estate and mortgage business just dried up -- we were in a depression. Many people would call to refinance, but we couldn't help them because of job/income loss, no equity, decline in appraised values within the neighborhood, high debt, etc.. So we turned to loss mitigating in hopes of obtaining loan modifications and a little income.
It's been an interesting 6 months talking to various lenders within the loss mitigation departments. We are finding that many lenders are doing "lip service" to satisfy the laws of the land. They will lie to you and provide forbearance plans that only provide high monthly mortgage repayment or "failure" plans, because the bottom line is that all the investor wants is his money owed. With that said, there are lenders that do try to help the homeowner who is behind and/or in foreclosure. We have seen some good loan modifications in which unpaid taxes or delinquent payments are put on the back end of the loan. Often times it is the investor behind the loan or the loss mitgator who makes the difference. Some really care and others just care about moving the file off their desk by pushing the foreclosure button.
The other difficulty that we see sometimes is that once we have a work-out, the lender goes under and/or the loan is sold or moved to a new servicing company. Then we have to start all over when the forbearance plan is up for a possible loan modification which is usually 3 months. (Note that every 3 months financial documents have to be updated.) In this environment, I have been left on hold for an hour or more, disconnected, hung-up, and told several times from a few servicing companies that they don't do loss mitigation only to have their story change after a period of a month once the new company is somewhat organized with the vast amount of files given to them. One new loss mitigator said he started out with 10 files and by the end of the day had 150 files on his desk. Persistence is the name of the game. Thus, if one wants to loss mitigate and be successful the paperwork required by the lender must be complete and in order. Lenders prefer to talk to the homeowner, because it's their last chance to squeeze money out of the homeowner before foreclosure. Sometimes, though, lenders prefer to talk to an independent third party, because it can get quite emotional for the homeowner or since the homeowner has a language barrier or just doesn't understand the lender's terms, conditions, time-lines and concepts.
Perhaps, my experience here will shed some new light on loss mitigation and how to obtain a work-out solution. The homeowner needs to know that the call/collection center is a lion's den -- they are as predatory as the lenders. They want their cut too and are not regulated like the mortage companies. The homeowner needs to ask for the loss mitigation department or "Hope" center or whatever name they call themselves, and pray that they get someone who cares and is willing to work-out a fair and workable solution. Often times, no one will talk to you until you are 2 months behind in payments.
Due to bad press regarding loss mitigators, a levied sales tax in Michigan on service companies (just repealed), and the need for homeowners to save their money, our Foreclosure Prevention Institute is recommending that the homeowner do their own loss mitigating. If you are a homeowner facing foreclosure or are interested in becoming a loss mitigator, then you might want to consider getting the Homeowner's Foreclosure "Survival Kit" at foreclosurinfo.bravehost.com. As a homeowner, you will save hundreds if not thousands of dollars if you are successful in preventing foreclosure. A foreclosure is not a foreclosure until the last day of your redemption period.
About the Author
Founder of Foreclosure Prevention Institute, LLC and managing director of 1st Loss Mitigation of MI. Have 25 years experience in foreclosures. To learn more about our organization, Loss Mitigation, and the Foreclosure "Survival Kit" goto Foreclosureinfo.bravehost.com
Wednesday, January 16, 2008
Gladwin Events!
Easter Bunny and Egg Hunt
The Gladwin Business & Professional Association will be holding their 10th annual Easter Egg Hunt in conjunction with the Gladwin Arts Council. The event will be held in the Gladwin City Park on Saturday, March 22, 2008 beginning at 11:00 a.m. SHARP!
There will be prizes, Aunt Tude’s petting zoo, face painting and a special guest...The Easter Bunny. Pictures may be taken with the Easter Bunny for a donation (donations are not mandatory). All other activities are free.
The event will take place rain, snow or shine. Make plans to join in all the fun.
Gladwin Home and Garden Show
Sponsored by the Gladwin Business and Professional Association will take place on Friday, March 28th and Saturday, March 29th at the Gladwin Community Arena, 402 James Robertson Drive in Gladwin, Michigan. The time of the event will be Noon to 8:00 p.m. on Friday and 9:00 a.m. to 5:00 p.m. on Saturday. Admission fee for the show will be a $2.00 donation, with a portion of the receipts donated to the Gladwin County Habitat for Humanity.
The Gladwin Business & Professional Association will be holding their 10th annual Easter Egg Hunt in conjunction with the Gladwin Arts Council. The event will be held in the Gladwin City Park on Saturday, March 22, 2008 beginning at 11:00 a.m. SHARP!
There will be prizes, Aunt Tude’s petting zoo, face painting and a special guest...The Easter Bunny. Pictures may be taken with the Easter Bunny for a donation (donations are not mandatory). All other activities are free.
The event will take place rain, snow or shine. Make plans to join in all the fun.
Gladwin Home and Garden Show
Sponsored by the Gladwin Business and Professional Association will take place on Friday, March 28th and Saturday, March 29th at the Gladwin Community Arena, 402 James Robertson Drive in Gladwin, Michigan. The time of the event will be Noon to 8:00 p.m. on Friday and 9:00 a.m. to 5:00 p.m. on Saturday. Admission fee for the show will be a $2.00 donation, with a portion of the receipts donated to the Gladwin County Habitat for Humanity.
Friday, January 11, 2008
The Numbers Are IN!
I wanted to thank everyone for making 2007 my best Real Estate Year Ever!
The numbers are in! With well over 3.5 Million in Total Sales, Ivie Baker was the Top Selling Agent in 2007 for all of Gladwin & Clare Counties!Thank You for trusting me with your Real Estate needs!
_________________________
Friday, January 04, 2008
COOL TOOL!!!
I know this is unrealed to Real Estate, but sometimes I run across somthing really neat that I'd like to share... and I found a New COOL TOOL!
Eric Kreckman of Gladwin County Abstract first told me about this! JOTT.com! Thanks Eric!!!
www.JOTT.com It is such a cool tool and it's totally free! I started using it while on the road, to remind myself about tasks and reminders and it works great!
You can create "To Do" List and Reminders...
Send Email and Text Messages to yourself and other people...
Blog Your Thoughts from Anywhere!
... All with your voice from any phone! What's even more cool, is that it's a toll free number!
I tried it and love it! Check it out at www.JOTT.com
Anyway, I thought I'd pass that bit of neat information along to you!
Eric Kreckman of Gladwin County Abstract first told me about this! JOTT.com! Thanks Eric!!!
www.JOTT.com It is such a cool tool and it's totally free! I started using it while on the road, to remind myself about tasks and reminders and it works great!
You can create "To Do" List and Reminders...
Send Email and Text Messages to yourself and other people...
Blog Your Thoughts from Anywhere!
... All with your voice from any phone! What's even more cool, is that it's a toll free number!
I tried it and love it! Check it out at www.JOTT.com
Anyway, I thought I'd pass that bit of neat information along to you!
Winter Fun Up North!
I thought this was a really neat photo. I actually got it as a Christmas Card.
This picture truly shows what it's like to own a cabin up north! Don't they look like they are having fun (or about to)???This is the Oseid Family. I sold them a cottage on one of the local fishing lakes in the area, last fall, and they are having a blast!
This winter has been fantastic for the snowmobilers! Lots and lots of snow!
Wednesday, December 05, 2007
Gladwin Parade of Lights
If you've never gone, you need to go next year. It's worth standing out in the cold for an hour our so. There is always lots to see!
Afterwards, they do a nice fireworks show, down at the city park. I wish I would have gotten pictures of it this year, but it was too snowy out.
Saturday, December 01, 2007
Need to See Foreclosures?
Kehoe Realty is constantley getting bank repos listing. Bookmark this link to keep the list of foreclosed properties with Kehoe Realty: http://gladwinrealestateagent.com/repos.htmlThursday, November 29, 2007
New Sugar Springs Maps Page!
I just put together a page with individual plat map links for each realm within Sugar Springs.
If you need to find the size of a lot, or location within a realm, you can use this resourse to find out more about the lots.Click on the map above to go to the Maps Page.
______________________
Thursday, September 06, 2007
Help Raise Money for Cancer Survivors!
Help Diane raise money for cancer survivors!
Visit Diane's web site and help her reach her goal of $2500! It's for a good cause!
__________________________
Wednesday, September 05, 2007
Short Sales and Income Tax! OUCH!
There is something home sellers should be aware of when it comes to taking a "Short Sale" on your house.
What is a short sale?
That's when the lender agrees to settle for a lesser amount than what is actually owed on the house. In many cases, a bank will decide to take less if the owner has been late on mortgage payments and heading towards foreclosure. Often, a bank would rather accept a short sale, than foreclose on a home.
Here was my question to my CPA:
Is it true, that if a home seller takes a short sale on their house, will they need to claim the difference they sell the house and what was originally owed to the bank... claim it as income?
This is what she said:
The answer is, yes. Of course with any tax laws, there are always "what-ifs". One key factor is the fair market value of the house being sold. The mortgage co/bank will send out a Form 1099C (Cancellation of debt) or Form 1099A (Abandonment of Secured Property) at the end of the year. Most likely it will be a 1099A.
The mtg co/bank will list all the info on the form. If the Fair Market Value is less than the balance of the debt, taxable income will result. I have seen it happen both ways, especially if recently purchased or equity loans taken out.
------------------------------
That being said, here is an article I came across on the Internet, that talks about short sales and income taxes: http://www.shortsales101.com/tax.htm
------------------------------
So... even if a short sale might sound like an easier way out, sellers will want to be aware that they will probably end up paying the IRS for the difference, as taxable income. So, save your pennies! However, a short sale is less of a blemish on a persons credit, than a foreclosure.
Foreclosure... BAD
Short Sale... not so bad...
------------------------------
What is a short sale?
That's when the lender agrees to settle for a lesser amount than what is actually owed on the house. In many cases, a bank will decide to take less if the owner has been late on mortgage payments and heading towards foreclosure. Often, a bank would rather accept a short sale, than foreclose on a home.
Here was my question to my CPA:
Is it true, that if a home seller takes a short sale on their house, will they need to claim the difference they sell the house and what was originally owed to the bank... claim it as income?
This is what she said:
The answer is, yes. Of course with any tax laws, there are always "what-ifs". One key factor is the fair market value of the house being sold. The mortgage co/bank will send out a Form 1099C (Cancellation of debt) or Form 1099A (Abandonment of Secured Property) at the end of the year. Most likely it will be a 1099A.
The mtg co/bank will list all the info on the form. If the Fair Market Value is less than the balance of the debt, taxable income will result. I have seen it happen both ways, especially if recently purchased or equity loans taken out.
------------------------------
That being said, here is an article I came across on the Internet, that talks about short sales and income taxes: http://www.shortsales101.com/tax.htm
------------------------------
So... even if a short sale might sound like an easier way out, sellers will want to be aware that they will probably end up paying the IRS for the difference, as taxable income. So, save your pennies! However, a short sale is less of a blemish on a persons credit, than a foreclosure.
Foreclosure... BAD
Short Sale... not so bad...
------------------------------
Wednesday, August 22, 2007
Vacation Homes Sales are the Hot Ticket! (by Ivie Baker)
Doom and Gloom in today's real estate market? Maybe, but not in vacation home sales!
We've all been hearing about it! Everyone is talking about the slow real estate market and falling prices in home sales throughout the country. There are for sale signs on the corner of every street. Many sellers are waiting longer than ever, to sell their homes. Foreclosures and short sales are now at a all time high.
Things seem pretty bleak in today's real estate market. However, this may not be the case for vacation home sales!
According to a survey done by the National Association of Realtors, existing home sales decreased by 4.1% in 2006. However, vacation home sales increased by 4.7% (over the previous year). That's good news for sellers and buyers, alike! People who can still invest, are investing!
If you're thinking about purchasing a second home, this is the time to buy. With all of the bad press out there, second home buyers and investors are taking advantage of the market.
However, there are still some things that these buyers need to know before they dive into searching for the second home or investment property. Even though it's a buyer's market, vacation home sellers are not coming down on their prices as much as many buyers may think. I've had offers come is as low as 30% below list price, thinking that today's depressed market would reflect that! However, that is not the case with vacation homes, especially if it's waterfront property.
On occasion, there may be a situation where a seller is in a distressed position and will take a substantially lesser price for the vacation property. You can often find those situations in the local newspapers, with pending foreclosures on the rise. However, in most cases, if a property is priced right, it will still sell. Vacation home investors are still out there buying and are willing to pay near asking price, if it's a desirable property.
According to the statistics I pulled up for vacation home sales in my part of Mid Michigan, sellers are still getting 90-100% (on average) of their listing price for vacation home sales. In most cases, sellers are getting 93% or better, of their listing price! AND in some instances, sellers are getting 99-100% of their list price if the home (or property) is priced right and in a "high demand" location.
What's the good news for buyers?
Prices are remaining steady or dropping slightly, and inventory is still high. In the future, these properties will continue to increase in value and even in a poor market, these properties will still be easier to sell, than normal residential housing.
While full time residential housing is still taking a bad hit, vacation home sales are still thriving in a stale market.
So, if you've been thinking about investing in a vacation home or property, now is the time to jump in with both feet! You'll get the enjoyment of having that get-away you've always wanted, along with the benefits of being one of the growing number of vacation home owners/investors throughout the country. Now is the time to catch the vacation home ownership wave!
Thursday, July 26, 2007
(((Unrelated to Real Estate!))) Mt Rock Fest 2007
You know... sometimes you just have to take a break from the craziness of work... and that's just what my husband and I did last week! We went to the very FIRST Mt Rock Fest in Farwell MI from July 19th to the 22nd!
We met CHICAGO in person!!!
We met CHICAGO in person!!!
Click on photo for a larger view.
I thought that the Mt Rock Fest was worthy of it's own BLOG, since I posted so many photos. Visit http://mtrockfestphotos.blogspot.com/ for TONS of photos! There's even a link to their web site. Keep an eye on the web site in September! They will have the band line-up for July 2008. I heard some inside information that they are going to try to get "Journey" to play there next summer. Wouldn't that be great?!?!
We enjoyed watching Def Leppard ~ Styx ~ REO Speedwagon ~ Chicago ~ Deep Purple ~ Grand Funk Railroad ~ Collective Soul ~ Third Eye Blind & more! Visit my BLOG for more photos!_______________________
Subscribe to:
Posts (Atom)