RENT WATCH: In the pool, a rule that applies to one must apply to all. To single out one child due to disability near the pool is discriminatory. You may, however, have a general rule that states that children under the age of 14 must have adult supervision at all times when in the swimming pool area. Since this rule would be applied across the board, it would not be seen as discriminatory. Click here to read more rental tidbits!
NATION'S HOUSING: FHA may be leaving its one-size-fits-all rates behind. Only one major player in the mortgage market has never shifted to risk-based pricing: the FHA, the largest federal mortgage program for first-time and minority buyers. But that may be about to change. The Bush administration's fiscal 2007 budget asks Congress to authorize risk-based pricing for FHA's mortgage insurance for the first time in its 72-year history. It also asks Congress to permit FHA to modify its rules to allow qualified home buyers to forgo traditional down payments altogether — a "zero-down" option including closing costs — and to offer 1% to 2% down payments depending on borrowers' specific needs and risk profiles. Click here to read more.
Marriage to younger woman limits reverse mortgage. Reverse mortgage lenders base eligibility on the age of the younger spouse who holds title. The simple solution is for your wife to quitclaim her interest in the house to you. Then the reverse mortgage eligibility will be much higher, based on your age rather than hers. Click here to read more Questions and Answers by Bob Bruss.
Staging the sale. Professionals clean and redecorate to help overcome slow home market. A "stager" is a professional who turns a house that's up for sale into a home that the first person walking through the door must have. By cleaning and redecorating - putting new pictures on the wall, rearranging furniture and putting other pieces in storage - the stager gives the place a more spacious, inviting feel for prospective buyers. There are no firm numbers on how many sellers use stagers, but local real estate agents say they're seeing an increase in their use. And for one reason: In today's slower market, they could make the difference between a house that sells quickly and one that sits without an offer for weeks. Staging long has been common for high-end homes here, and especially in coastal California markets. But area agents say in today's weaker market sellers of even homes under $500,000 are turning to professional stagers in hopes of selling faster and for top dollar. The cost of professional staging can vary from a couple of hundred dollars for a consultation and a written plan to thousands of dollars if there's a lot of labor and rented furniture involved. It also depends on the size of the home and the seller's willingness to help with the cleaning and decluttering. We live in our homes and get comfortable with our surroundings. Often we don't see things (that need to be changed) because it fits our lifestyle. The purpose of staging is to eliminate your personal signature. One great example is family pictures, which can be distracting to potential buyers. Stagers try to make homes feel roomier by getting rid of knickknacks, weeding out unnecessary furniture and recommending the owner paint walls neutral colors, mainly white and off-white. Stagers say such colors expand a room, while colored ones shrink it. Sellers are told they should think of the decluttering process as getting an early start on their packing. Increasingly, agents factor all or a portion of the cost to stage a home into their commission. Click here to read more staging tips.
~Tina Jan~
Coldwell Banker Kivett-Teeters
1655 E. Sixth St.
Beaumont, CA 92223
Work: 951-845-5520 Ext. 105
Fax: 951-845-4916
Cell: 909-446-2666
Toll-Free: 1-877-TINAJAN
tina.jan@coldwellbanker.com
www.tinajan.com
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