DID YOU KNOW? Many Remarkable Deeds All Around Us

 

Did you know that there are many good deeds that take place on a daily basis. One does not have to go very far to find them.  All you need to do is talk to your friends, family, neighbors, co-workers, or find them in reading material and social media.  Unfortunately, with all the loud noise from our newsrooms, the good deeds taking place are washed out.  In reality, the people doing good deeds are the forgotten people.   Below are two good deeds that have taken place just on my block recently.

An older neighbor from across the street from the street - a younger neighbor stopped their friendship because the older neighbor stole $500 from the younger neighbor.  It happened about two years ago.  Last week, the older neighbor (in his mid 70's), was trying to lift a box from the garage floor to place it on a shelf.  It was too heavy for the older neighbor to lift the box.  He saw that the younger neighbor was doing yard work. After not speaking to each other for approximately two years, the older neighbor took a chance to ask the younger neighbor if he would help him lift a box.  The younger neighbor, the one whose money was stolen, honored the older man's request. He went to the older neighbor's house and lifted the box for him.  I asked my younger neighbor why he decided to help him - after all, the older neighbor stole from him.  His reply was that that was what God would expected him to do.

Another retired neighbor on my block needed to replace some rotten siding along his house.  To replace the siding was going to require a new paint job so that the old siding and new siding would look uniform.  The retired man was not able to climb a ladder. We watch him struggle trying to get on the ladder, so two of the other neighbors on the block decided to help him paint the exterior of the house.  It took about five days to get the job done, but neighbors came together to get the retired man's house painted.  The paint gesture was came from genuine hearts.

A "DIVINE" Real Estate Experience

As a Realtor, I have the opportunity to engage with individuals from all walks of life - including those who share their spiritual beliefs. The client you are to read about below is one that has genuinely shared her trust and belief in God with me.  It is the life she lives and demonstrates to her friends and family that brings her faith alive.

My client wanted to move out of the Miami area.  She was ready and eligible to retire and her goal was to begin to live her golden years.  However, to make her goal become a reality, it was vital for her to sell her house and relocate to an area of Florida where housing was more affordable.  Being able to sell her home would afford her the possibility to make a sizeable profit. With the proceeds from the sale of her Miami home, she would position herself to financially purchase a new home in cash and be mortgage free – a goal most people would like to accomplish!

She had visited my home in the Treasure Coast area.  She was impress  her with  the area and most importantly was impacted with the affordable home prices.  After her visit, she contacted me to inform me that she had received a contract on her Miami home and that she had decided to move to the Treasure Coast. As her Realtor, she asked me to find her a house on the same block I lived on. I replied to her was that it was impossible to find a house on the same block. She simply replied to me, “I will pray about it.” I did not have any idea how I would find a house on the same block my house was on- or even in my area.  FOR SALE houses in my neighborhood were rare.  Her request to find her a house in my area – and quickly- was a tall order!  Finding a house on the same block as my house was an order much bigger than me.  Prayer, like she said, was the only thing I could hang onto.

I walk my dog 2-3 times a day.  My dog typically walks the same daily route.  One late night in October, I walked my dog later than usual. As we stepped out the front door, my dog kept pulling me to walk the opposite direction from where we typically walk.  I followed her lead and we walked the opposite direction. As we were walking back home, I noticed that one of the houses on my block had a lockbox on the door, however, there was no FOR SALE sign on the property. It is common to have sellers who prefer not to have a sign on the property.  I went home to access my MLS to find out the price of the house.  I was not able to find it on the MLS.  It felt like a dead-end.

The next morning, I woke up early in order to walk toward the house again.  I wanted to confirm that I had seen a lockbox on the door- after all it was late and dark when I had noticed the lockbox.  As my dog and I walked toward the house, a car drove onto the drive-way.  I did not hesitate to greet the man driving the car.  He greeted me as well.  Thinking that he was the owner, I asked him if his house was for sale.  He replied that he was not the property owner, but that he was the Realtor.  He informed me that he was on the property to place a FOR SALE sign.  I asked if he would show me the house.  He honored my request and showed me the house.  As soon as I stepped into the house, I knew that the house would not be on the market very long. The house was very nice.  All I could thing about was that it was the perfect house for my client. “I cannot believe that I found a house on my block, it was large, it was beautiful, and it was affordable,” was the only thing I could say. It felt like her prayer had been answered.  I shared with the Realtor that I had a potential qualified buyer for the house.  I told him that I would contact her to have her view the house the same day.  He gave me the opportunity to call my client.  He was kind enough not to place the sign on the property and waited for Melissa to see the house.

I called my client to tell her to drop what she was doing, drive north in order to see a house that was going to expedite her road to retirement.  She took my advice, drove to the Treasure Coast area to see the house located on my block. By 4 p.m. she had signed a contract.  My client was on her way to begin her new life!

She returned to Miami to go to work the next day. Her next plan of action was to separate from her employer. Because the sale on her property was around the corner, she was on a time crunch, so she terminated her position immediately. She put her plan into action, bought her new home, and is now mortgage free. For now, she exerts her free time to her life passion . . . gardening. Through her gardening passion, she creates and designs English style gardens resulting in colorful plants and flowers that draw the attention of all her visitors and butterflies. She refers to her garden as God’s Garden.  Her gardening is, in my opinion, her special way of showing others her love for God’s natural gift to us. 

In real estate, I have “take-a-ways” away from my clients, take-a-ways that I can apply to my own personal life.  There are times clients give me food for thought as we share conversations.  Some clients help me appreciate things I take for granted. There are clients that in some indescribable and mystical way plant seeds in my soul.  Melissa was the client that planted seeds in my soul: It was the seeds of faith and prayer that caused my doubt to manifest itself into belief.  As  realtor, I witness faith in action. Today I do not limit prayer only to times when I need God to answer a prayer because I have a desperate need.  Because of the seeds my client planted in me, I have incorporated prayer into my every day business dealings.  The results have been divine! 

  

WHAT IS A STATE DOCUMENTARY STAMP?

WHAT IS STATE DOCUMENTARY STAMP?

 

Just as buying most things in life involves paying state taxes, so real estate transactions involve the payment of state taxes at closing. Any time you transfer a property deed to another owner, the state requires the payment of a tax on the deed, therefore, the state will impose taxes on the transfer of title of real property. In some states it may be referred to as a State Transfer Tax.  You will find the fee reflected in your U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT SETTLEMENT STATEMENT received prior to your closing date.

 

 

The fee is usually assessed at the rate of certain amount of cents for each $100 of the full purchase price.  In some states, the fee is assessed at the rate of certain amount of cents for each $500.  It makes no difference whether the purchase is all cash, all financed, or some combination of cash and financing because this tax is based on the purchase price. For example, the fee in Florida is assessed at $.70 for each $100 of the full purchase price.  In Florida the State Documentary Stamp fee is paid by the seller. This is a one-time tax and is not paid annually. It is part of itemized closing costs.

A majority of states and the District of Columbia provide for this tax but 13 states do not.

The state statutes may or may not stipulate who (buyer or seller) is responsible for paying
the tax. In addition, most statutes list a number of cases where the transfer is exempt
from taxation.

 

What Loan Type is Best for Me?

What's the Difference Between FHA and Conventional Loans?

By Lisa Goetz May 31, 2017 — 6:00 AM EDT

Consumers qualify for various types of mortgages based on their financial profiles. People with established credit who are on a solid financial footing usually qualify for conventional mortgages. Those who are just starting out in life with than a little more debt than normal and a modest credit rating typically qualify for mortgages insured by the Federal Housing Administration(FHA).

Conventional Mortgages

Conventional mortgages present the most risk for lenders since they are not insured by the federal government. For this reason, lenders extend such mortgages to applicants who have the strongest financial profiles. Conventional down payment requirements range from 3 to 20% depending on the mortgage product. Consumers typically have stellar credit reports with no significant blemishes and credit scores of at least 680 to qualify for conventional mortgages. Conventional loan interest rates vary depending on the amount of the down payment, the consumer’s choice of mortgage product and current market conditions. People who have conventional mortgages, and make less than a 20% down payment, pay mortgage insurance until their loan-to-value reaches 80%.

FHA Mortgages

The main difference between FHA and conventional loan requirements is that the federal government insures mortgages with looser qualifying standards to make it possible for first-timers to achieve the American dream -to buy a home. FHA mortgage applicants don’t need to have stellar credit and can gain loan approval with credit scores as low as 580, as long as they bring a 3.5% down payment to the closing table. Most lenders require FHA mortgage applicants to have credit scores between 620 and 640 for approval. FHA mortgage holders pay mortgage insurance for the life of the loan.

Read more: What's the Difference Between FHA and Conventional Loans? | Investopedia https://www.investopedia.com/ask/answers/082616/whats-difference-between-fha-and-conventional-loans.asp#ixzz57EMNPsOG
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article is courtesy of Lisa Goetz

Title Insurance - Do I need it? Why?

What is a title?

Simply stated, the title to a piece of property is the evidence that the owner is in lawful possession of that property. 

What is title insurance?

Title insurance protects real estate owners and lenders against any property loss or damage they might experience because of liens, encumbrances or defects in the title to the property. Each title insurance policy is subject to specific terms, conditions and exclusions.

What Does Title Insurance Protect You From? A lot.

There are few things in life more important than protecting your home. The following matters are examples of why you need a Stewart Title insurance policy. Remember that the best title examination or search cannot protect your equity and home from matters not appearing in the public records. However, a Stewart Title policy* can protect you from:

• Documents executed under false, revoked or expired powers of attorney
• False impersonation of the true land owner
• Undisclosed heirs
• Improperly recorded legal documents
• Prescriptive rights in another not appearing of record and not disclosed by survey
• Failure to include necessary parties to certain judicial proceedings
• Defective acknowledgements due to improper or expired notarization
• Corporate franchise taxes as liens on corporate real estate assets
• Gaps in the chain of title
• Mistakes and omissions resulting in improper abstracting
• Forged deeds, mortgages, wills, releases of mortgages and other instruments
• Deeds by minors
• Deeds which appear absolute, but which are held to be equitable mortgages
• Conveyances by an heir, devisee or survivor of a joint estate who attempts to attain title by ill-gotten means
• Inadequate legal descriptions
• Conveyances by undisclosed divorced spouses
• Duress in execution of wills, deeds and instruments conveying or establishing title
• Issues involving delivery of conveyancing instruments
• Deeds and wills by persons lacking legal capacity
• State inheritance and gift tax liens
• Errors in tax records
• Demolition and substandard building liens
• Administration of estates and probate of wills of missing persons who are presumed deceased
• Issues of rightful possession of the land
• Issues concerning the rightful conveyances by corporate entities
• Deeds and mortgages by foreigners who may lack legal capacity to hold title
• Legal capacity of foreign personal representatives and trustees
• Issues involving improper marital status
• Improper modification of documents
• Rights of divorced parties
• Conveyances in violation of public policy
• Misinterpretation of wills and ancillary instruments
• Deeds by persons falsely representing their marital status
• Claims by creditors of decedent against property improperly conveyed by heirs and devisees
• Issues concerning unlawful takings by eminent domain or condemnation
• Special tax assessments
• Real estate homestead exceptions
• Forfeitures of real property due to criminal acts
• Issues concerning adoption of children
• Conveyances and proceedings affecting rights of military personnel protected by the Soldiers’ and Sailors’ Civil Relief Act
• Issues concerning interests noted in financial statements filed under Uniform Commercial Code
• Interests arising by deeds of fictitious parties
• Adverse possession
• Lack of jurisdiction or competency of persons in judicial proceedings
• Community property issues
• Utility easements
• False affidavits of death or heirship
• Intestate estates
• Probate matters
• Federal estate and gift tax liens

The above information was taken from Stewart Title Company.  Visit their website at stewart.com
*Subject to certain limitations set forth in the policy.
Visit stewart.com for more information about title insurance and to find out why Stewart Title is the right title company for you.

Here Are 10 Reasons You Should Be Investing In Land:

1) With Vacant Land, You Don’t Need to “do” Anything to the Property.

Forget construction! Forget renovations! You don't need to be an expert or know anything about how to rehab a property yourself. In most cases, you really only need to know one thing: “Is the property suitable for building?” As long as someone else can build on the land if/when they want to, a huge part of the battle is already won.

2) Raw Land is a “Hands-Off” Investment.

Have you had enough of dealing with tenants, toilets, bugs, mold, lawn care, leaking roofs, bursting pipes, broken furnaces, and the hundreds of other issues that come with owning buildings? Vacant land doesn't involve ANY of those things. Once you buy it…   it sits there, it behaves itself, and nothing happens.

3) Statistically, Vacant Land Owners are Highly Motivated to Sell.

Why? Because vacant land owners (by default) are always absentee owners. When a person doesn't live inside of (or even near) the property they're trying to sell, there is less of an “emotional connection” – because it isn't their primary residence. In many cases, you'll find that these sellers are willing to sell their land for pennies on the dollar – simply because they don't live anywhere near it, it's not producing any income for them (because they don't know how to optimize their land correctly) and as a result, they are much more apathetic about it. Find these people, and you will find some incredible deals.

4) Land Investors Have Very Little Competition to Deal With.

Are you tired of dealing with such stiff competition on every property you try to buy? Are you sick of getting outbid on every good deal you're lucky enough to find? Well guess what… there is virtually no competition in the world of raw land investing. You see… most real estate investors have their minds stuck on things like houses, apartments, commercial property and the like – because that's what everyone else does. Most investors don't understand the superior benefits that come with land and this can definitely play to your advantage.

5) Land Investors Call Their Own Shots.

When you buy vacant land the right way, it's easy to buy each property with your own cash and completely avoid dealing with banks and mortgage companies. When I got started as a land investor, I had $3,000 to my name and to this day, I have never had to borrow money from a bank. Ever. When you know where to look for great deals on land, it requires very little start-up capital to get your business up and running.

6) When You Learn How to Research Properties Effectively, you can Buy and Sell Vacant Land Properties Without Ever Seeing Them In-Person.

In 2011, I bought and sold a parcel of land and grossed over $44,000. The entire process took me 5 months from start to finish and to this day, I've never actually seen this property with my own eyes. Everything was done virtually, using the tools that you and I have available for FREE online. The beauty of land is that it doesn't involve any structures. This means the inspection process is VERY simple – and if you're doing the right research, you can easily buy your properties without ever visiting them in person.

7) Add Seller Financing to the Mix and EXPLODE Your Income Potential.

When you combine vacant land with the power of Seller Financing, it's a match made in heaven. It can open up the doors to finding MANY more buyers, because most banks are very hesitant to lend money on vacant land. Due to the scarcity of “easy money” financing, a land investor can use this to their advantage by charging a higher-than-market interest rate and many people will gladly pay it. Seller Financing is also a great way to create multiple streams of passive income that act like rental properties but come with virtually none of the typical headaches that rental properties are known for.

8) Land is Very Inexpensive to Own as a Long-Term Investment.

When you buy a piece of land for the right price, there are no mortgage payments to make, no utility bills to pay, the cost of property insurance is nominal (if you have it at all) and property taxes are extremely cheap. If you want to park your cash somewhere and forget about it, vacant land could be exactly the investment vehicle you're looking for.

9) Land Gives its Owner Peace of Mind.

Think about it – land is a long-term, tangible asset that doesn't wear out, doesn't depreciate, and nothing can get broken, stolen or destroyed. Put all of these benefits together with your ability to buy it for next-to-nothing…   and can you think of a better combination?

10) They Aren't Making Any More Of It.

Most people don't think of vacant land this way, but the reality is – land is an extremely valuable resource with limited quantities available. Especially when you purchase land in the path of growth, you will find yourself with a finite asset that a lot of other people want to get their hands on. Stocks, bonds, mutual funds and 401Ks all make sense in certain scenarios, and so does land. If you go into this with the intent of holding the right property for the long-term, it can make a lot more sense (and be a lot more profitable) than any other retirement vehicle out there.

Land Investing Is A Huge Opportunity

I'll be completely honest with you. Land investing is without question, the most powerful strategy I've used to build my real estate investing career. I've bought and sold hundreds of vacant land properties and generated a lot of passive income by selling them with Seller Financing.
After running the REtipster Blog for a few years, a lot of readers had asked me to put together a comprehensive land investing course, so they could learn all the basics of how my business works from start-to-finish, so I finally did.
The REtipster Club is a paid membership website that offers access to a full-blown, 12-week course on how my land investing business works (with all-inclusive access to my tools, videos, calculators and more as part of the price of admission). If you're looking for an in-depth, step-by-step guide on how I managed to skyrocket my income on a part-time basis and quit my job through the power of land investing, this will show you how it's done.
Now obviously, I wouldn't recommend pulling the trigger on anything like this unless you're ready to take it seriously and treat it like a business. If you think you've got what it takes and you're ready to dive in, I can tell you from personal experience that this is an investing strategy that works (trust me, I've got a lot of big checks to show for it). Come check it out – I think you'll like it!

Give Your Home CPR

BEFORE YOU PUT YOUR HOUSE ON THE MARKET, GIVE IT CPR

CPR is used on people in cardiac arrest in order to oxygenate the blood and maintain a cardiac output to keep vital organs alive.  In real estate, CLEAN, PAINT, REPAIR (CPR) does not convey a matter of life or death.  However, it does convey the duration it might sit in the market. When buyers shop for houses, typically the homes that leave an impression are those that are clean, that have a fresh coat of paint, and that show no signs of repairs.

Clean – cleaning refers to both interior and exterior of the house. Floors, mirrors, windows, and sliding glass doors should look vibrant. Kitchen and baths should be squeaky clean. Bedrooms and closets should look orderly.  Either a scented candle or a scented air freshener will enhance the feel of the house.  Vital to the cleaning process is decluttering. Decluttering gives the seller the opportunity to showcase the features the home has to offer.  A cluttered home serves as a distraction to a potential buyer.

Paint – painting also refers to both interior and exterior.  Neutral colors have always proven to be the safest position to take when putting your house on the market.  Fresh paint gives a house a newer look.

Repair – repairing visible repairs first is a vital pre-repair attempts.  If you have holes on the walls, doors or windows that do not close properly, cracked o broken windows, or anything visible that a potential buyer may interpret as a “problem,” repair it before it gives a potential buyer reason to offer you less for your home.