At CTR Agents, we want our LDS realtors to succeed and generate as many buyers as possible. Think large and you will get big results.

We know that your sellers can become buyers, you have referrals that need to be pampered, and you may even have past clients who are not willing to work with anyone else on your team. However, never spend your money in a buyer lead generation. We all know that the real estate agents who are succeeding are the listing agents.

When you do work with buyers, try to do it as quickly as possible. You can accomplish this goal by first selling only the best properties, and only work with the most motivated buyers!

If you have to work on the weak side of this business, don’t be weak in getting a contract signed.

To recap: we get the buyers interested in inventory that can actually be sold! We quickly show them the best inventory FIRST. We make certain that both the buyers and sellers needs can be met by attending the offer presentation. Present the counter-offer to your “buyer in waiting,” and get their signature.

This is efficient real estate! It is also what needs to be done so you can get back to the best business of listing real estate.

#1 De-clutter your home before we take a picture! Don’t: Let anyone come and view your home with a clutter mess. And believe us when we say your idea of clutter may not be our idea of clutter!

#2 Clean…and that’s not just the basics. We are talking carpet steam cleans, and paint touch ups. Don’t: think that buyers will not notice that ugly stain in your carpet!

#3 Make your bathroom a haven. No need to remodel the whole bath, but it would be a great idea if you can spare the funds. Bathrooms get the most return on a sale. Don’t: let your bathroom be overlooked because you use it day in and day out. Give it the tender loving care it needs to attract those buyers!

#4 Wash those windows! People will notice them when they look at your beautiful yard, and then the focus will be that nasty spot in the way!

#5 Let the light shine in! Open curtains and blinds, and turn on the lights! If there are bulbs burned out, replace them now.

#6 Be sure to fix any minor repairs inside. If you have a squeaky door, poor on the WD-40 and if you have loose cabinet door, screw in those bolts. People will notice the wear and tear on the inside and will wonder what else is lurking underneath the minor repairs.

#7 Trim those bushes, pluck those weeds, and make your yard glow! Mow the grass, and pick up the trash! Any toys should also be put away as well.

#8 Try planting some simple flowers with splashes of color. This will really spruce up your yard as well.

#9 Pets, children and you should be long gone while the showing is on. Nothing should distract the buyers from thinking this could be there home and that includes your family!

#10 No one wants to think this way, but this is no perfect world, so lock up any valuables you may have! Now you are ready for the big day!

In the latest news the federal government is working on a proposal to reform government sponsored enterprises like Fannie Mae, Freddie Mac, and the Federal Home Loan Bank Systems. Testifying before the House Financial Services Committee is, NAHB Third Vice Chairman Rick Judson, a builder and developer from North Carolina, says the need for this support is underscored by the current state of affairs, GSE’s, Federal Housing Administration and Fannie Mae.

“NHAB feels the federal backstop must be a permanent fixture in order to ensure a consistent supply of mortgage liquidity as well as to allow rapid and effective responses to market dislocations and crises,” said Judson.

Three points were discussed as he spoke and the items mentioned were as follows:

1. The degree and structure at which the government supports mortgages.
2. Operation of the conforming conventional mortgage market.
3. Conforming conventional mortgages

At CTR Agents our LDS realtors invite you to contact us, and see what our LDS agents can do to answer your home-buying needs!

What is a mortgage?
A loan obtained to purchase real estate in which is used as a lien secured in a promise to pay the debt. All have principal and interest.

What is a loan to value ratio (LTV) and how will it determine the loan size?
It is the amount of money you will borrow vs. the price or appraised value of the home you are purchasing. Each loan has a set LTV limit.

The LTV also reflects the amount of equity borrowers have acquired. The higher the LTV the less cash homebuyers are required to pay out of their own funds. If your LTV exceeds 80% or more, your lenders will usually require a mortgage insurance policy to cover all bases.

What types of loans are listed and what are the advantages?
There are numerous types of mortgages. The first one is a 15-year fixed or a 30-year fixed loan. The advantage to these is that they are predictable and the monthly payments on your home will never increase or decrease. Interest rates will be somewhat higher with fixed of loans however.

The second type is the adjustable rate mortgage. A great advantage to this type of loan is it usually comes with a lower interest rate to start. Also, if a borrower is not planning on staying in an area for very long, adjustable rates are great.

When does an adjustable rate mortgage work best?
An ARM may make more sense if you are certain your income will increase over the years, or if you foresee moving and are not concerned with the potential increases in interest rates.

What are the advantages of 15 and 30 Year Loans?
In the first 23 years of a 30-year loan more interest is being paid than principal, which means you will see larger tax deductions. As inflation and cost of living increases with a 30-year loan, mortgage payments become a smaller part of overall expenses.

In a 15-year loan lower interest rates are more common. Also, equity can be built more speedily because early payments pay more in principal.

Can I pay off my loan ahead of schedule?
The answer is yes you can! By sending in your extra money each month or once a year (whichever you prefer) you can accelerate the process of paying off your loan. When you send in payments make sure to note the extra money is going toward the principal!

At CTRAgents.com our LDS Realtors are bringing you all the information you need to make good judgments about what types of loans you need, and we want you to make that first step the right one! Contact us and our LDS Real Estate Agents will provide you a list of listings near you!

More news from Fannie Mae suggests that there will be new requirements for homeowners who have experienced a pre-foreclosure event, including a pre-foreclosure sale, short sale, or deed-in-lieu of foreclosure.

One of the changes includes a new amount of time that must elapse after a pre-foreclosure event to the time that a borrower can obtain a new mortgage loan owned or guaranteed by Fannie Mae. All circumstances such as loss of employment, loan to value ratio or any financial hardship will be considered for the waiting period. Derogatory credit will also be a factor, as Fannie Mae will impose new requirements on borrowers to re-establish their credit!

Please keep in mind that this does not apply to loans with Freddie Mac or the Federal Housing Association (FHA).

At CTRAgents.com our LDS agents are always keeping our homeowners and homebuyers updated on the latest happenings in the real estate business!

At CTRAgents.com, our LDS real estate agents are bringing you the top and most important news available to our homeowners!

In the loan modification goals, Obama and the administration had hoped to save up to 4 million homeowners from foreclosing on their homes. Present stats say that this goal has only helped 1 million, which was not as many as the Obama administration had hoped. Only 168,000 have received long term loan modifications!

Yes! You really do need it! Yes it is required at closing! Arrangements for homeowners insurance must be made prior to that time. The earlier this is squared away the better because if you do not have insurance on your home, it will not close. By completing your insurance early it can also can save you money. Insurance agents will give you extra information on home safety and can give tips on how to keep your insurance premiums low.

When shopping around for homeowners insurance, consider the following: The cost of insurance for homes constructed with brick materials, and newer homes tend to have lower premiums. Also think about avoiding areas where natural disasters are common, like flooding and earthquakes. You could even consider choosing a home with a fire hydrant or a fire department nearby!

Furthermore, any homebuyers who live in a flood plain will need additional flood insurance before lenders will loan money. In addition, do consider flood insurance if you are even near a flood plain, as it will secure your chances of mortgage loss.

At CTRAgents.com our LDS realtors are here to inform you about the home buying process. Contact our LDS agents today and we walk you through every step of the way

Our LDS agents at CTRAgents.com believe it is always a good idea to be there when the inspector is evaluating your potential new home.

No home inspector will ever tell you if you are getting good value on the home, but they will be checking out the structure, construction and mechanical systems in the house to make you aware of any repairs that are needed. This includes but is not limited to: electrical systems, plumbing and waste disposal, water heaters, insulation and ventilation, the HVAC system, water sources and quality, potentials of pests, the foundation of the home, doors, windows, ceilings, walls, floors, and roof.
When you are buying a home find a qualified and experienced inspector.

It is also a good idea to have the inspection before you sign a written offer because once the deal is closed you will be buying the house as is. You can even include an inspection clause. This clause gives you an “out” on buying the home if some serious problems arise and it may even give you a chance to renegotiate the price of the home if repairs are needed. An inspection clause may also specify that the seller fix the problems before you buy the home.

How many of you take an occasional personality quiz? Well our LDS agents at CTRAgents.com have come up with the perfect homebuyer quiz. If you can answer yes to these questions then you are ready, and we are ready to help you with the home buying process!

1. Do you have a steady income, and has it been steady for at least 2-3 years?
2. Do I pay my bills on time?
3. Do I have any extra debt—like a car payment?
4. Do I have money saved for a down payment?
5. Can I afford the mortgage payments each month?
6. Is the price range of the area within my approved budget?
7. Am I prepared to own and take full responsibility for all repairs in my new home if they are needed?
8. When looking at a home am I paying attention to any matanace issues or potential problems with the home?
9. Is there enough room to grow and plan for the future?
10. Are there enough bedrooms and bathrooms?
11. Is the housing structure okay?
12. Are all appliances or mechanical systems in good enough condition?
13. Are the front/backyards big enough?
14. Do you like the layout of the home?
15. Will your furniture fit?
16. Is there enough storage space?
17. Will the seller replace any items that need immediate replacement?
18. Will you be happy with the house year round—rain or shine?

Short sales are a great option for those who are finding themselves on the brinks of foreclosure, but our LDS agents want you to see some of the facts about short sales, and give you an opportunity to weigh your options. Here are some important points to know about short sales and some things you can do in preparing your home for a short sale.

First, if you are questioning about a short sale, contact a real estate lawyer and an accountant. Why is this? Well, for starters, since a short sale forgives a homeowner of some debt, you will have to determine if that debt will affect your next year’s taxes. It could be considered debt forgiveness, and the tax ramifications could be quite large. A lawyer can determine if you qualify for a deficiency claim. Also there is no guarantee that a lender who accepts a short sale will not legally pursue a borrower for the difference between the amount owed and the amount paid.

When you have determined that you can proceed with the short sale process, call the lender you have chosen, and ask for a supervisor name and the person capable of handling the short sale transaction directly! Also, submit a letter of authorization including but not limited to: Your name, address, your agents name and contract information, the date, and the new loan reference number given from your lender.

Next, you will need a preliminary net sheet, also known as an estimated fee statement. Normally it will show the sales price of the home, unpaid loan balances, outstanding payments and late fees. Your closing agent or lawyer should be able to prepare this form for you.

Also, be sure to write your hardship letter. This letter is a formal written statement about how you got into financial ruin, and please be precise, but also do not leave important details out. The harder your financial bind is, the more likely you are to get the assistance you need.

As far as your proof of monies, you will need bank statements, and proof of all income (including paystubs) and assets(car, stock markets, money market account, savings accounts, etc, etc.). Be honest about your income because banks will need to know if the debt being forgiven is really negotiable.

Your LDS real estate agent will also prepare what is called a CMA form (Comparative Market Analysis). Your home may be worth less than what you bought it for, and in turn could mean you are upside down in your home, and it lets a bank know the unlikely chance you will ever pay off that loan. It is a statement showing comparatives that have sold in your area, pending sales, and home that are for sale and their asking prices.

Lastly, when you reach an agreement to sell with a buyer, the lender will want a copy of the offer from the buyer, along with a copy of your listing agreement. Be prepared for the lender to renegotiate commissions and to refuse to pay for certain items such termite inspections.

To conclude, if all of these items on the list go as planned, you will be approved by the lender, and as a part of the negotiation, you may want to ask them to not let this affect your credit adversely. However, not all banks are going to agree with that wish, and your credit may still be adversely affected. Credit statuses are not always negotiable.

If you need more advice or a little more insight, CTRAgents.com is here with you, and we will give our honest opinions. Contact one of our LDS agents today for a consultation!