Erin Blaise

The Missouri Housing Development Commission has just announced a wonderful new program where home buyers can get a 20% downpayment grant when they buy a bank owned home. The maximum grant is $14,999. Here are the details:

*Buyers must use MHDC "First Place Loan" for their first mortgage

*Buyers must live in the home as their primary residence for 5 years

*Buyers must take 8 hours of home buyer's counseling

*The home must be purchased for 5% under the appraisal value

*The home may not have been used as a rental property in the last 12 months

*Buyers income must not be more than 20% over the median income for their area

Call me if you have any questions or would like to participate in this wonderful program. Erin Blaise 573-268-9059.

One of my seller clients called me to say they had an unannounced potential buyer knock on the door. He claimed his Realtor hadn't told him about the house but he was interested in it after driving by. After a short conversation, my client went ahead and let him look at the house. He said he was interested in it and came back the next day with a letter saying he wanted to buy the house for cash and he would pay with a check. My client took his name and number and said I would call him back. I called him and of course he did not call me back. Before telling him to call me, they had considered taking his "check". Thank goodness they didn't agree to a deal on the spot!

There is a scam going on around the country where people get a copy of the deed to a person's house. They make a new deed and either get you to sign the house over to them in exchange for a bogus cashier's check, or forge a new deed and record it at the county courthouse. Then, they go take a large loan out on the property and take off with the money. They are long gone by the time your realize the cashier's check they gave you is a fake or see that someone has borrowed $300,000 against the house. Then you are stuck trying to fix the problem. If you sign the house over in exchange for check, there is a chance you will have to pay the loan back, a loan you did not take out. Don't let this happen to you.

Not enough people know about this scam. They target people who have lived in their home a long time and have a lot of equity or own it outright. Spread the word!

Yesterday I was listening to the Dave Ramsey radio show in my office. A caller told Dave their house was under contract but her husband wasn't sure he wanted to go through with the sale because the buyer was requiring them to pay for a survey. It was going to cost them $400. They didin't think they should have to pay for it because they didn't have to have a survey when they purchesed the property. The background was these home seller's were in an area in California with a very soft real estate market and they wanted to move but weren't sure about the survey. Dave told them to pay for the survey and move, of course. Why would you let $400 stand in the way of your dream? What Dave didn't say was real estate transactions are not the same now as they were 2 years ago, let alone 10 years ago.

It's very importanant to keep in mind, banks are requiring documentation of facts in the transaction that they did not require before. Just because you did not have to have something in the past does not mean it is not required now. Just because the buyer is asking for things you did not ask for does not mean they are trying to somehow rip you off. The great majority of buyers just want the house and are not trying to make you angry or frustrated. The market is definitely coming back. Let it come back and work with it the best you can. You will be successful.

I went on a listing interview yesterday. Like always, there was a lot of research that went into pricing and sales data before I went. Once I had prepared, I was really happy with what I found. This particular home was in the $130,00-140,000 price range. For the previous month, only 5 homes in this price range sold and closed. The good news is 15 homes in this price range are under contract and getting ready to close. This means the days on the market is reducing from a 10 month supply of homes to a 3 month supply of homes. Even though it's only February, if you're thinking of selling a home in the $130,000s price range, now is the time to act.

Showing activity is way up too. We have had days of 60 showings just like the summer. The loan programs and rates are attracting buyers. It's a great time to act.

Last week my parents had dinner with me and we were trying to decide what to do after dinner. I made some suggestions but my mother said she wanted to do something that didn't involve spending money. This week I started thinking about all the things to do in Columbia that don't cost a dime. Here is my list of top free picks:

1. Go to the library. While you are there, sign up for ebooks. You can read books online at your home computer without having to venture out. If you are not in the reading mood, check out some DVDs and CDs. There is a great selection of documentaries, but also lots of TV shows as well. With the thousands of CDs they have, you may never listen to your car radio again. If you like magazines, go to the top floor. There are hundreds of current magazines. Who needs a subscription?

2. Go to the Museum of Art and Archaeology on the MU campus. This place is amazing and the exhibits change several times a year. They have a Picasso! Don't miss out.

3. Shelter Insurance Gardens. A great place when the weather is nice. My favorite is the rose garden. Watching the fish is a great stress reliever.

4. Get five gallons of free (recycled) paint from the City of Columbia and paint something. This may not be everyone's favorite but this can be a god send for your budget. I have painted entire home interiors with free paint. My kitchen was painted with free City paint. Email me and I'll tell you where to get it.

5. Columbia's parks and trails. We have so many parks, it's kind of shocking. We have places to walk, ride your bike, skate board and play tennis for free. You can even swim free at Stephen's lake.

I hope you find this post helpful. Enjoy! Erin