Jennifer Stauter

It was a good day. Headed out to the suburbs to take some staging photos of a condo.

All started easy - no problems. I ring the door bell - no answer. So I use the key box on the door to get inside the condo. Started taking pictures & mentally staging the house. Then out of nowhere a person comes down the steps. She needs to get her car out of the garage - so I follow her to the garage & move my car out of the way. It is wet, muddy, & snowy so I tell this person - I will just go out through the garage when I'm done so I don't track mud through the house.

I finish up. Slide my feet in my lace up Lug shoes so they are half on - good enough to get to the car. I hit the button & start to head out the garage door. To my surprise, the garage door is really fast & is too far down so the sensors kick it back up. Score: Garage Door 1 ~ Realtor 0.

Thinking this is just a fluke - I head back to hit the button again. I hit the button & start to run - I start to realize that I am dodging snow/mud piles on the garage floor- the world's fastest garage door beats me again. Score: Garage Door 2 ~ Realtor 0.

Clearly, this is not going well...but not being a quitter, I decide to try again. I sit down- pull my socks up, put my feet all the way into my Lugs (wishing they were track shoes), tie them tight. I stand up - plan my route - avoid the mud/snow piles & run like the wind. Ready, set, go - I hit the button & start running fast - I'm going to make it go, go go! Holy crap that door is fast - I keep going... I attempt to jump the garage door sensor and... splat I land butt first in one of the snow/mud puddles I was avoiding. Score: Garage Door 3 ~ Realtor 0. At this point, I'm feeling pretty wet, muddy and defeated... and then I noticed the neighbor across the way was watching me and smiling.

Make it a good day! :-)

This happened several years ago... it was a normal day.

I had a full day of showings scheduled with some First Time Buyers.

We hopped in the car & headed out to a suburb of Madison.

First house was a lovely bi-level with a nicely manicured yard.

As usual, I opened the door using the key box - rang the bell once for good measure and in we went. It was summer - all of the windows shades were shut likely to try to conserve energy - at any rate the house is dimly lit.

We view the kitchen, walk out & check the deck, yard then to the living room. So far this house has potential! The clients start thinking about how to arrange their furniture in the living room while I head to the bedrooms to open them up and get lights on.

I head down a long hallway toward the bedrooms - I notice that all 3 bedroom doors are shut... this is never good.

I knock on door one - no answer - I walk in turn on the lights & open the blinds.

Next, door two - I knock - no answer - I walk in turn on the room lamp & open the blinds.

On to door three -- I knock - no answer - I open the door and walk in & flip on the lights without really looking in the room. I head to open the blinds - then out of the corner of my eye what do I see... a big, hairy man butt straight ahead of me.

Ahhh... I realize there is a very large naked man sleeping on his stomach in this room. My fight or flight reflex kicks in & I run like the wind to get the heck out of that room.

Ok, deep breath... back to the living room. I inform the clients that someone is sleeping in one of the bedrooms so we should skip viewing that room. The clients really, really like the house & want to see the whole house so they have a full picture so they can feel comfortable writing an offer.

I let them know that they will get a full picture that will be scared into their brains of a big, hairy man butt.

Undeterred, they head to the bedrooms. They check out the first two bedrooms and of course they are perfect.

On to door three... I decide I need to wake this man up. So I start pounding on the bedroom door - bang, bang, bang! I shut my eyes open the door & let the clients in - they quick scan the room & we head back to the living room.

At this point, these first time buyer's eyeballs looked like they were going to pop out of their heads. Just as I'm thinking it was time to head out Ms. Buyer says, "Don't you think you should go make sure that man is ok? If he didn't hear you knock - he could be dead."

Oh crap. If anybody knows me - they know I could never go in to the medical field as I do not like blood or dead things. Now, I'm supposed to check on big, hairy butt man to see if he is dead.

How to do this without touching this man? I go to the door & try some more banging - he doesn't wake up. I flash the lights on & off - he doesn't wake up. So I decide to grab a large basket of dog toys to gently throw at the big, hairy butt man.

First toss is a rib squeaky toy... bombs away. He doesn't wake up. Next shot is a chew toy - he still doesn't wake up. I decide to try one last tennis ball before I go in & shake big, hairy butt man. I wind up & toss the tennis ball - direct hit! Big, hairy, butt man starts to move & grunt. Yea! He is alive! Boo! He is waking up. I run down the hall & out of the house with the clients on to the next house.

I never did get a complete view of big, hairy butt man's face & he never saw me. So if you know anyone that mentioned that they went to sleep & then woke up with the lights on, blinds open & had a bed full of dog toys - now you know what really happened.

Jen Stauter ~ www.HomeTeam4u.net

IRS Guidance for Filing for the First-Time Homebuyer Tax Credit

Under the American Recovery and Reinvestment Act of 2009, qualifying taxpayers who purchase a home before Dec. 1 receive up to $8,000 or $4,000 for married individuals filing separately. The IRS recently released additional information to help homebuyers understand the ways they can file to claim the $8,000 first-time homebuyer credit for 2009 home purchases.

For people who recently purchased a home (closed or took up residence in new construction) or are considering buying in the next few months, there are several different ways that they can get this tax credit even if they've already filed their tax return. The Treasury Department encourages taxpayers to explore these options to maximize their credit and get their money back as fast as possible. "The new credit can get money in the pockets of first-time homebuyers quickly," said IRS Commissioner Doug Shulman.

People can claim the credit either on their 2008 tax returns due April 15 or on their 2009 tax returns next year. The filing options to consider are:

1. File an extension. Taxpayers who haven't yet filed their 2008 returns but are buying a home soon can request a six-month extension to October 15. This step would be faster than waiting until next year to claim it on the 2009 tax return. Even with an extension, taxpayers could still file electronically, receiving their refund in as few as 10 days with direct deposit.
2. File now, amend later. Taxpayers due a sizable refund for their 2008 tax return but who also are considering buying a house in the next few months can file their return now and claim the credit later. Taxpayers would file their 2008 tax forms as usual, and then follow up with an amended return later this year to claim the homebuyer credit.
3. Amend the 2008 tax return. Taxpayers buying a home in the near future who have already filed their 2008 tax return can consider filing an amended tax return. The amended tax return will allow them to claim the homebuyer credit on the 2008 return without waiting until next year to claim it on the 2009 return.
4. Claim the credit in 2009 rather than 2008. For some taxpayers, it may make more financial sense to wait and claim the homebuyer credit next year when they file the 2009 tax return rather than claiming it now on the 2008 tax return. This could benefit taxpayers who might qualify for a higher credit on the 2009 tax return. This could include people who have less income in 2009 than 2008 because of factors such as a job loss or drop in investment income.

The IRS reminds taxpayers the amount of the credit begins to phase out for taxpayers whose modified adjusted gross income is more than $75,000, or $150,000 for joint filers. Taxpayers can claim 10 percent of the purchase price up to $8,000, or $4,000 for married individuals filing separately.

IRS.gov provides more information, including guidance for people who bought their first homes in 2008. To learn more about the overall implementation of the Recovery Act, visit www.Recovery.gov.
From the IRS news release IR-2009-27: http://www.irs.gov/newsroom/article/0,,id=205416,00.html

Legal Hottips - April 20, 2009

Chapter 2

She and He decided to forgo their Realtors advice and go with Uncle B's 3^rd cousin from his first marriage for their mortgage. He was almost family..... right? What could go wrong?

It was a new day! He and She set up an appointment with their Realtor on Tuesday at 10 AM. In the meantime, He decided that he was going to do some house shopping on the Internet. He looked for several hours at every website known to man. Finally, He found a house that seemed to be too good to be true. To see the house all He needed to do was fill out an online survey - he had already filled out a bunch of those surveys so he figured - what the heck. He finished up the survey & pressed the info send button. All of a sudden his screen went black - then a message started to flash on his screen - You have downloaded the Too Good to Be True Virus. Your hard drive is now fried. Ha...Ha! Oh no thought He, She is going to kill me. He decided that he'd better go to bed & figure out a plan in the morning.

The next day He and She decided to go to their Buyer consultation meeting. Their Realtor sat them down in her office. The atmosphere was very relaxed.

All of a sudden He's phone started to ring - it was another Realtor calling to follow up on He's Internet inquiry. He quickly got rid of the call & put his phone on vibrate.

Time to get started! Their Realtor went through the entire buying process and really got to know them and what they wanted in a house.

As time went by, it had become clear to everyone in the room that something was up. He's phone was vibrating almost non-stop. Their Realtor told He it must be something important He should take the call. He answered... it was another Realtor calling him back again. He finally fesses up to their Realtor & She that he had contacted several other agents via the Internet and He didn't realize that they all would call him.

Their Realtor smiled and said - this is the perfect time for me to tell you about Buyer Agency. In most cases, a Realtor can be of better service to you when you are in Buyer Agency with them. Being in buyer's agency allows an agent to work for your interests and to try to achieve your goals. Negotiating for you to get you the best price is one of the best reasons. He and She decided Buyer agency seemed like a good option & signed a 6 month contract with their Realtor.

Now said their Realtor - let's get the process started. Tell me about the house that you want? She said we need a house with 3 bedrooms so we have plenty of room for kids and we need a big yard. He said I want a 2 car garage. Their Realtor said let me find several houses for you to check out. Their Realtor gave He and She several houses choices to go through - their task was to bring the list down to 3 houses that they ‘really" wanted to see. After a while they were able to get the list down to 7.

Something was starting to come clear. She wanted a house that was ready to move in and He wanted a foreclosure or fixer upper. Their Realtor said - ok I think we need to find the happy medium... we need to find a house with solid bones, but it needs to look like the Brady bunch lived there... that way He has projects to stay busy and She can move right in - does that sound workable? He looked at she they both smiled ear to ear - that was the answer! Their Realtor told them to drive by the houses on their "see" list and call her in the morning to set up appointments.

He agreed to let his Realtor call other agents from now on. No more filling out Internet website information. He just hoped his computer would work when he got home....

A few days later it was time to do some showings. He brought his Dad who bought his last house in 1973. Things haven't changed much since 1973 right?

Will He's Dad help or hinder their home buying process?

Find out in Chapter 3!

CHAPTER 1

She & He just had a baby, Mee. Their 1 bedroom apartment was starting to seem really small. Late one night She couldn't get back to sleep after feeding baby Mee - time to search the Internet to wind down. Hmmm... recipes - boring, diets - depressing, great deal on a house - interesting! Click -She started checking out real estate websites - so many to look at - how to know what is best. She decided she would email 3 Realtors and use the first one that emailed her back. Now off to bed. Good night!

In the morning She woke to find only one Realtor had responded - so She decided that would be the one. She and He set up a time to meet with the Realtor. Their new Realtor suggested that the first step to buying a house was to talk to a Lender and get pre-approved. Their Realtor recommended 3 Lenders for them to contact. He suggested to She that they should contact Uncle B's 3^rd cousin from his first marriage to do their loan. She wasn't so sure, but figured might as well check him out too.

Monday - She & He met with Uncle B's 3rd cousin from his first marriage. Uncle B's 3^rd cousin from his first marriage was very nice - his office was lovely - very new. Uncle B's 3^rd cousin from his first marriage told She & He they could buy a house up to $180,000, interest rate would be 5.25% & they would have a few closing costs, but nothing to worry about....

Tuesday - She & He met with Realtor recommended Lender 1. This Lender worked for a local area bank. Lender 1 told She & He they could purchase a home up to $200,000 with an interest rate of 5.25 % and minimal closing costs.

Wednesday - She & He met with Realtor recommended Lender 2. This Lender worked for a large national bank with local offices in the area. Lender 2 told She & He that they could purchase a home up to $200,000 with an interest rate of 4.99%, paying 1 point and minimal closing costs.

Thursday - She & He have had it with talking to Lenders - everyone says something different. They liked Uncle B's 3rd cousin from his first marriage, but couldn't figure out why he only approved them to $180.000. The house She liked on the Internet was $195,000 so $180,000 might be a problem. She & He decide to sleep on it.

Friday - She & He decide that they would ask their Realtor what was going on. Their Realtor looked over all of the lending options. Their Realtor told She & He she would call them back shortly. Right way, their Realtor called Uncle B's 3^rd cousin from his first marriage to find out about the closing costs that She & He were not to worry about...turns out She & He were approved to $200,000, but Uncle B's 3^rd cousin from his first marriage was going to have them add closing costs, prepaids & points in the amount of $20,000 to the top of the loan so he was actually reducing She & He's buying power. Their Realtor thought no wonder Uncle B's 3^rd cousin from his first marriage has such a nice office - Uncle B's 3^rd cousin from his first marriage is taking advantage of his clients.

Next, their Realtor called Lender 1 and Lender 2 turns out both Lender 1 and Lender 2 had minimal closing costs. Lender 2 indicated that a point was being charged to lower She & He's monthly payment as they had indicated that they had cash to put down upfront, but that they were very payment conscious and wanted a payment under $1100.00 per month. Their Realtor called She & He back and gave them the scoop; their Realtor recommended using Lender 2 as that Lender seemed to have a better read as to what was really important to She & He. A lower monthly payment!

What will She & He do?

The answer will be in Chapter 2...stay tuned!