Cyndi Hartsock

According to RealtyTrac 2008 U.S. Foreclosure Market Report, foreclosure filings were up 81 percent in 2008. Sad to say for homeowners who bought in the last few years who need to sell, but these properties are the driving force in the market now.

Eviction notices, sheriff sales and bank repossessions seem to be everywhere. There were 3,157,806 foreclosure filings, reported during 2008, an 81 percent increase in total properties from 2007 and a 225 percent increase in total properties from 2006, according to the report.

1 in 54 homes filed for foreclosure. November 2008 to December 2008's foreclosure filings were up 17 percent, and more than 40 percent from December 2007. The top ten states for foreclosure rates in 2008 were Nevada, Florida, Arizona, California, Colorado, Michigan, Ohio, Georgia, Illinois, and New Jersey. The greatest number of foreclosure filings was in California, up 110 percent from 2007. Florida, Arizona, Ohio, Michigan, Illinois, Texas, Georgia, Nevada and New Jersey completed the rest of the top ten in total foreclosures.

So what are you waiting for? Prices are at an all-time low as well as rates. Contact me today to get started: Cyndi@HartsockRealty.com or check out my website at www.HartsockRealty.com.

What is a HUD Home?
A HUD home is a 1 to 4 unit residential property acquired by HUD as a result of a foreclosure action on an FHA-insured mortgage. HUD becomes the property owner and offers it for sale to recover the loss on the foreclosure claim.

Who can buy a HUD Home?
Almost anyone! If you have the cash or can qualify for a loan (subject to certain restrictions) you may buy a HUD Home. HUD Homes are initially offered to owner-occupant purchasers (people who are buying the home as their primary residence). Following the priority period for owner occupants, unsold properties are available to all buyers, including investors.

How are HUD Homes sold?
All properties available for purchase by the public are offered for sale at Internet listing sites maintained by management companies under contract to HUD. Any real estate broker registered with HUD may submit an offer and contract to purchase on your behalf. HUD pays the real estate broker's commission, if included in the contract.

Are there any special programs?
Properties in designated areas are available at a reduced sales price to law enforcement officers, teachers, firefighters, emergency medical technicians, nonprofits and local governments.

Should I get a home inspection?
We encourage you to get an inspection after your offer is accepted. All HUD Homes are sold AS-IS, without warranty. HUD will not make repairs nor pay to correct any problems.

What about financing?
Although HUD does not offer financing directly, some of our homes qualify for FHA-insured loans. Shop around for a lender to find the best loan terms and be sure to inquire if they are an FHA lender.

If you would like more information or a list of HUD homes in the Lima, OH area - please contact me at Cyndi@HartsockHomes.com or my search the MLS on my website at www.HartsockHomes.com.

Is your home in jeopardy?
Are you behind on your bills?
Are your mortgage payments behind?
Did your interest rate just jump way up...or is about to?
Did you or your spouse just lose their job?
Facing a separation or divorce?
Death or serious illness in the family?
Home no longer worth what you paid for it?

These and other life altering events can have a major impact on your ability to stay current with your mortgage. If you fall behind on your mortgage payments your are at risk of losing the real estate you own. In this market there are a huge number of homeowners facing foreclosure, many more then most parts of the country. Don't be another real estate statistic.

What is a Short Sale?

While completing a short sale can be an involved process the actual definition of a short sale is easy... you are selling your home for less then what is owed to the bank. The bank must approve the short sale and agree to take less then the full amount owed as part of the "steps to a short sale" listed below.

Steps to a Short Sale:

-Realize you are in trouble and that your home is in jeopardy.
-Take action...don't bury your head in the sand and hope the problem goes away...
-Investigate your options
-Call your bank and ask what they can do to help.
-Is it short term? Borrow the money to stay current.
-Find a professional Realtor to help.
-Interview your potential agent to ensure they are an EXPERT at short sales.
-Assemble the documents typically needed to complete a short sale:

-A listing agreement with the Realtor you have chosen.
-Your authorization to share info with you short sale agent.
-A detailed summary of your financial position.
-A hardship letter to the bank.
-Supporting hardship information.
-Bank information.
-The last two pay-stubs for everyone on the loan.
-The last two most recent bank statements.
-Usually some more information depending on your lender.

I cannot stress how important it is to have an expert handle the marketing and negotiation on a short sale. Take any calls from you mortgage lender, you need to show you are working WITH them. They do not HAVE to do a short sale with you...but many will agree to it as a more viable option than the expense of a foreclosure action.

Maintain your home as best you can and allow all reasonable showing of your property.

Read more at www.hartsockhomes.com.

Lima Ohio real estate this past year has been interesting to say the least! Homes are still selling...but at declining prices and much longer days on the market. Not to mention the flood of foreclosures still pummeling the Northwest Ohio area. I am still hoping that the historically low interest rates and financial bailout funds will help boost sales and prices back to a stable level. Unfortunately though, no matter how much credit is available or at what interest rate, the lingering issue of a buyer's outlook on their own employment future must improve before I see the market rebounding. Most buyers just don't want to commit when they are unsure if they will have a job. Just as homeowners are also growing weary of this market, most Realtors will admit this is not the type of market they got into the real estate business for. It's difficult to be the bearer of bad news to home sellers and with fewer buyers, the gratification that we as Realtor's thrive on of helping someone find their dream home is fewer and far between at the moment. Let's hope that 2009 holds a more secure economic outlook!

I am considering using a SMS marketing technique in my 2009 marketing plan. Has anyone had success with this medium? Also, I am having a difficult time narrowing the choices of what SMS marketing systems work best and are the most cost effective long-term. Please advise if anyone has good or bad experiences with any of the providers out there (cellahouse, goomzee, cellsigns, etc). It is a bit overwhelming to try to weed thru all of the choices that are cropping up. I am located in Ohio, so would appreciate knowing if someone has anything that has worked particularly well in this area. Thanks for your help!