Kathy Hyatt, abr-gri

Here is the MLS Data for January 2010 from the Fort Lauderdale Board of Realtors for Closed Home Sales for Single Family Residences as well as for Condo and Town homes. Also included is information for New Property Listings and Available Inventory.

Have a Real Estate Question, give Kathy a call at 954-347-0244 or visit my website of: www.KathyHyatt.com

Starting today February 1st thru February 7th, 2010 Einstein Brothers is giving out Free Bagels and Cream Cheese to everyone who has this Coupon below. No strings attached! Just print out the Coupon below and you are good to go.

Enjoy and Spread the Word.

Have a Real Estate Question, give Kathy a call or visit my Website of: www.KathyHyatt.com

Is Saving Money, Worth the Risk?

I'll be the first to admit it. It seems like a really good idea, trying to sell your house by yourself. As the Homeowner, who knows your house better than you? The Layout, the Improvements you have completed and how great the Neighbors are and in the process save yourself from having to pay anywhere from 6 to 8% commission.

So, who needs a Realtor?

It's a known and downright scary fact. Thieves love "For Sale by Owner" signs. It gives them the chance to look around freely, to see where your doors are, what kinds of locks you have, Where your electronics are, where the jewelry is, what they can take, quickly and easily. Oh, they certainly look legitimate. They know what they are doing. They won't come in Looking like Thieves with stockings on their heads. They want you to suspect nothing. Just "respectable people looking to buy your home"...They've done this before, and know exactly what to do.

How about the reality of "Child Predators" entering your house? As they walk around the inside of your House they are really checking out the children's rooms trying to figure out what their names are or what they like.

So here are two words:

There are just too many tragic stories, so what can a FSBO do to stay safe? An idea that I would suggest would be to request to see potential Visitors Driver's Licenses and tell them you are going to record the information. It may be a hassle and make you seem pushy, but it may help prevent this risk, at least somewhat.

•· There are also other things to consider, like what kind of impression do you think Buyers have when they see a FSBO sign in your yard? Your typical Buyer will figure right off the bat that they can cut 6% off the Sales Price before they even walk in the door and start negotiating downward from that point on.

•· Most Homeowners will only sell 3 or maybe 4 houses in their lifetime. Realtors are trained in the fine of art of negotiating and are Experts at regularly selling Real Estate. Realtors are familiar with Neighborhood and the Current Market Conditions. Realtors must meet education requirements, be licensed by the State and pass a background check.

•· FSBO's run the risk, of potentially having their property tied up for months. It has happened so many times... The buyer ties up the home for three to six months trying to get financing. Contracts are signed, you don't show the home to others, you think it's a done deal...and then - well, sorry. All the time, all the money, all the potential wasted...

A Realtor will make sure your Buyer is Pre-Approved for a Mortgage, not just pre-qualified before you ever sign a contract.

•· When you sell your house by yourself, you make yourself really vulnerable to other People's whims. You are not only showing your home, but you have to be the scheduler, The gracious host, whether you really want to or not... And people can be pushy, rude and demanding.

A Realtor are good Screeners, and are also good Hosts...they know how to schedule, and to stick by their guns and still accommodate both the buyer AND the seller, to make this a fair and appropriate process.

There are many more pitfalls to be wary of when selling your house by yourself. As the Homeowner you can try to sell, but, considering the many risks involved, not to mention the hassles, or the diminished likelihood of success, it makes sense to hire a Real Estate Professional.

Have a Real Estate Question, give Kathy a Call at 954-347-0244 or email me at: Kathy@KathyHyatt.com

They are here! Major Changes to FHA Just Announced

Recently announced on January 20^th 2010, FHA has announced major changes to ensure its long-term financial soundness. These changes will allow FHA to continue to be the number one choice for First Time Home Buyers that are obtaining a Mortgage. Here they are:

• · The Upfront Mortgage Insurance Premium will increase by ½ percent. Currently the upfront MIP is at 1.75% and will soon change to 2.25%. This is scheduled to take effect by Spring 2010. To clarify, the Upfront MIP is financed into the loan amount.

• · Next month FHA will be releasing an Announcement, stating what many Real Estate Professionals have already known is that Borrowers with a credit score of 580 or lower will soon be required to have a 10% down payment invested in the property. For all others borrowers, the minimum down payment will remain at 3.5%. This is expected to take effect in theSummer 2010.

• · Now this next change hurts, next month FHA is announcing that Seller concessions will soon be limited to a maximum of 3%. Currently Sellers may pay up to a total of 6%. This is expected to take place in the Summer 2010

• Next month FHA is also making another announcement regarding the proposed increase of the Monthly Mortgage Insurance Premium. Currently FHA borrowers pay a monthly MIP amount of .55%. While this change must first be “Approved by the Legislation” which will take time it is expected to pass. No date has been projected as to when this will happened.

• · Next month, effective on February 1^st, 2010, FHA will be utilizing “Neighborhood Watch”. The FHA Connection Neighborhood Watch allows authorized users to monitor FHA mortgage delinquency patterns in a geographic area, by lender or by loan details. FHA loans that go delinquent after ninety days within the first three years are trackable. For more information on this visit: FHA Neighborhood Watch

WHY YOU NEED A REALTOR®

A licensed Real Estate Professional provides much more than the service of helping you find your ideal home. Realtors® are expert negotiators with other agents, seasoned financial advisors with customers, and superb navigators around the local neighborhood. They are members of the National Association of Realtors® (NAR) and must abide by a Code of Ethics and Standards of Practice enforced by the NAR. A professional Realtor is your best resource when purchasing your home.

Benefits of working with a Realtor®

• A knowledgeable Realtor can save you endless amounts of time, money, and frustration.

• A knowledgeable Realtor knows the housing market inside and out and can help you avoid the “wild goose chase.”

• A knowledgeable Realtor can help you with any home, even if it is listed elsewhere or if it is being sold by the owner directly.

• A knowledgeable Realtor knows the best lenders in the area and can help you understand the importance of being preapproved for a mortgage. He or she can also discuss down payments, closing costs, and monthly payment options that suit you.

• A knowledgeable Realtor is an excellent source for both general and specific information about the community such as schools, churches, shopping, and transportation—plus tips on home inspections and pricing.

• A knowledgeable Realtor is experienced at presenting your offer to the seller and can help you through the process of negotiating the best price. By bring objectivity to the buying transaction, he or she can point out the advantages and the disadvantages of a particular property.

And the best thing about your Realtor is that all this help normally won’t cost you a cent. Generally speaking, the seller pays the commission to the Realtor (but this may vary from province to province and state to state