“World's Most Complete Neighborpedia”
Sponsor a Community — What is Localism? | Register or Sign In
Explore:   What's happening in your neck of the woods?
Home Kris Gonet-Hall

Kris Gonet-Hall

Blog_tag

Holyoke Massachusettes

03-20-09
Kris Gonet-Hall

0 Comments
Blog_tag

What to look for in a Real Estate Agent

02-14-09
Kris Gonet-Hall

Whenever you are buying or selling a home it is important that you know how to select a real estate agent. Finding a good real estate agent involves doing a little homework and knowing what kinds of questions to ask.

With the right real estate agent you will be able to find the ideal home that meets both your housing needs and budget.

First and foremost you want an honest real estate agent and one that comes highly recommended by others. There is nothing wrong with asking for a list of references.

If location is a big issue consider a real estate agent who works not only in your area but in other areas as well. If a real estate agent only works locally it will be impossible to locate any homes of interest that may be just outside of your initial area of interest.

Having a good rapport with your real estate agent is also important. If an agent didn't make a good first impression, look for someone else to deal with. It is important to find an agent who is friendly, energetic and has a positive attitude about finding you the right home.

A real estate agent from a realty company is a good choice. Even if the copany is small, you should be assured that the agent is properly trained and has some good connections which will help find you the right home.

For professional, friendly, well informed Realtor call me.

Kris Gonet-Hall

Coldwell Banker

413-204-6099

Relocation, New Homes, Golf Course Communities and more

Multi million Dollar Producer

0 Comments
Blog_tag

Top Ten Tips most misunderstood

02-14-09
Kris Gonet-Hall

The Top Ten Tips address the most critical and most often misunderstood home buying issues.

1. Commit to the Process and do your homework

· Buying a home is the largest and most important purchase in the lives of most people. However, far too many want to treat it like shopping for new clothes - drop by the mall on your lunch hour, get excited about the suit in the window, put it on your credit card. What may work for your wardrobe is often a disaster with a home purchase.
· The savvy home buyer makes a conscious decision and commitment to buy, plans carefully and deals with financing issues first, allocates adequate time off from work to look, keeps emotions in check, listens to the advice of a professional.

2. Hire a Buyer's Agent to Represent You "Kris Gonet-Hall, Realtor Broker/Associate

· Just a few years ago there was only one type of real estate professional serving the home buying public. They were Seller's Agents or Sub-Agents of the Seller's Agent. Although they worked intimately with the home buyer they were bound by contract to do everything possible to protect the seller and obtain the most favorable price and terms for the seller. The problem was that most buyers were unaware of this situation - they thought the agent was working for them.
· Today, home buyers can and should be represented by their own agent - A Buyer's Agent - who is bound by contract to do everything possible to protect the buyer's interests. Only with a Buyer's Agent can the buyer be assured of getting the best service and counseling thorough out the buying process. To be represented by a Buyer's Agent normally requires a written agreement. Visit the Buyer's Page for further information on how to choose a Buyers' Agent

3. Get Pre-Approved For Financing by a reputable lender

· When a home seller receives an offer to purchase there are two primary factors that are always considered immediately - How much is the offer; and, does the buyer really have the money? After all, a seller has no way to know who you are or how reliable you may be. In every case a seller is more willing to negotiate price and/or other terms if the availability of the money is assured.
· When a home buyer makes the effort up front to get pre-approved for financing it does two things - Establishes exactly how much home you can afford; and, puts you in the strongest possible negotiating position with all home sellers. See our Mortgage Tips and Links for more info.

4. Choose the Neighborhood

· After arranging financing, the infamous "location" issue is the next thing a buyer should consider as the home buying process is begun. The fact that a home is a "good buy" or is "so beautiful" can never cure the ills of being in an undesirable area. Most buyers should consider neighborhood factors like schools, distance from work, distance to shopping or hospitals, general appearance and relative affordability before running out to start "looking inside" various homes for sale. The worst thing a buyer can do is "Fall in Love" with a home in an unsuitable or unaffordable area.

5. Be Realistic About Needs and Wants

· There is no reason that a home search should take more than a week in a normal market. But, everyone has heard about someone who looked at over 500 homes during the course of 18 months utilizing the services of 5 RealtorsÒ before finally finding that "just right" home. This only happens when the buyer has not come to terms with what they really need, want and can afford to buy.
· Everyone needs and wants enough bedrooms and bathrooms to serve their family adequately. Everyone needs and wants a nice kitchen, comfortable living area, and sufficient storage. Everyone would like the home to be in relatively good condition. But, the buyer who just can't live without the three car garage, the brand new A/C & heating system, and the special oversized game room is usually in for great disappointment.

6. Make the Right Offer

· Once the Buyer's Agent is hired, loan is approved, neighborhood is determined and the home is selected an offer has to be made. It needs to be the right offer. To be successful the buyer should listen closely to the advice of the Buyer's Agent.
· A rule of thumb is that a too low first offer usually results in the buyer either losing the home or ultimately paying more than he should for the home. Why? Among other factors, a low ball offer puts the seller on the defensive and contaminates the environment needed to result in a Win-Win negotiation. An offer that is too high can also send the wrong signal to the seller, especially when the home was just recently put on the market. A too high offer may not only cost the buyer money but could cause the seller to be less agreeable with other terms and conditions.

7. Get a Home Inspection

· The home looks clean and well maintained so there is no need to check further. Wrong! Most home buyers, even those who have bought and sold many times, are not experts in construction issues, building codes, safety issues and many other items. Home inspectors, usually guided by state regulations, are able to find things of concern that the buyer would otherwise overlook. Since this is likely to be the largest purchase of your lifetime the few hundred dollars spend on a home inspection is always money well spent.
· Does this mean that if an inspector finds things in need of repair that the seller will automatically fix them? No, it does not. Depending upon the specific issues and the terms of the sales contract the buyer may be able to have some things fixed by the seller. Each situation if different and the buyer should look to his Buyer's Agent for advice on the types of things a seller normally can be expected to repair given the sales contract terms and market conditions at the time.

8. Avoid Midstream Changes

· Nothing is ever constant except change. But, the wise home buyer avoids non-essential changes if at all possible - particularly when it comes to their financial picture.
· A buyer who will utilize mortgage financing should have mortgage pre approval before starting the search process. This pre approval is always subject to financial issues remaining unchanged until closing. Buying a new car, loaning money to a relative, splurging on a vacation, missing a credit card payment, etc., all can be factors that impact the pre approval and jeopardize the buyer's ability to finalize a mortgage loan for the amount desired.
· Similarly, a cash buyer who needs to sell stocks, make IRA withdrawals or otherwise move funds around should do so well before closing and preferably before the search process begins. An unexpected delay of days or weeks while a retirement plan administrator processes your withdrawal could make the difference between buying the home you want or watching someone else buy it.

9. Get a Survey and Title Insurance

· Real estate purchases are among the most complex business transactions that most people ever undertake. There are a multitude of factors to be considered and many things that can go wrong. However, there is no reason to not receive clear title and a property free from encroachments.
· The Survey is a verification of property boundary lines and should display any encroachments or easements. For example, assume you are a buying a home in an older subdivision where many homeowners have added decks, garages and so forth over the years. It is possible that one of your neighbors' additions was not built within his property boundaries but is situated partly on the lot you are purchasing. A survey should reveal this problem before you become the owner.
· Title Insurance is a guarantee that when you purchase real estate there is no one else with any claim to your property. Should someone claim a prior ownership interest subsequent to your purchase of the property the title insurance company is obligated to protect your ownership interest. An alternative to title insurance is something called an Abstract of Title which is a condensed history of all transactions affecting a particular tract of land. Consult your attorney if you are considering an Abstract of Title.

10. Be Pro-Active

This may seem to be a given to most people but it is truly amazing how many home buyers think that all they have to do is sign the contract and everything else will magically occur without their participation. The fact is that there are many details that only the buyer can resolve to assure a timely, trouble free purchase and closing. The Buyer's Agent will counsel and assist throughout the process but the buyer will have the best overall result by being fully aware of all aspects of the process and asking as many questions as possible along the way.

Relocation, New Homes, and Golf Course Communities are my specialty Never be afraid to ask questions

Kris Gonet-Hall, Realtor, Relocation, New home specialist, Golf Course Communities

0 Comments
Blog_tag

Home is where the heart is

02-14-09
Kris Gonet-Hall

Valentine artist Today is Valentine's Day. Few women ever forget this holiday. We like romance, being held by that special someone and being told we are loved. Many partners have gotten in big trouble on this day because they forgot to give the gift that says, I love you.

If you are reading this on Valentine's morning and have forgotten to get that special something, or find this column taped to the bathroom mirror, you still have time to redeem the day.

They say Valentine's Day is the day for lovers. That is all well and good if you have a lover you like. Otherwise, the day can be a bust. Too often the expectations of flowers, chocolate and a romantic dinner go unfulfilled. A day that celebrates love should not be a disappointment for so many. Perhaps we need to reframe what Valentine's Day is all about.

Valentine's Day can be expanded to embrace all those who love life and hope that our tomorrows will be better than today. Why not tell that special girlfriend, brother or neighbor that you love them and give thanks for them being in your life? An unexpected gift on this day will express just how much you value friendships. It is no surprise that friendships often outlast our romantic relationships.

In these stressful economic times, with the stock market still sinking and unemployment at a 30-year high, we must cling to those values that are rock solid. Love is simple -

and remember..... Home is where the heart is!!!!







0 Comments
Blog_tag

News on the stimulus legislation

02-14-09
Kris Gonet-Hall

MEMORANDUM There is always new information coming out everyday!!

DATE: February 13, 2009

How do you feel about this?

House and Senate conferees completed work on final elements of the stimulus legislation early this morning. I would like to provide you with a brief overview of what is in the final legislative package, particularly as it relates to the housing community.

House and Senate conferees have agreed upon a compromise stimulus package at a total cost of $789 billion. The House is scheduled to vote on the package today and the Senate will follow suit shortly thereafter, with the expectation that the legislation will reach President Barack Obama's desk by Monday, Feb. 16.

There are several provisions in the overall stimulus package that will be beneficial for many of our members - and help stimulate demand for housing.

Chief among these is an $8,000 home buyer tax credit for new home buyers. While we are disappointed and would have preferred a more enhanced tax credit like the Senate version, the conferees did retain some key elements from the Senate and made other modifications that are beneficial to home buyers and home builders. For qualified home purchases in 2009, the legislation:

•· Stipulates that the $8,000 tax credit does not have to be repaid, unlike the tax credit passed last summer;

•· Keeps the tax credit refundable, or claimable regardless of tax liability;

•· Extends the sunset date from July 1, 2009 until Dec. 1, 2009 so that consumers can utilize it during the critical summer and fall buying months;

•· Allows tax credit home buyers to participate in the mortgage revenue bond program; and

•· Permits state housing finance agencies to help buyers at closing by advancing the credit amount as a loan using tax-exempt bond proceeds.

While much of the industry's focus was on the home buyer tax credit, there are several other important components in the legislation that will help small businesses and bolster the housing market. H.R. 1, the American Recovery and Reinvestment Act of 2009, will:

•· Help home borrowers in high-cost markets by extending the 2008 FHA, Fannie Mae and Freddie Mac loan limits of $729,750 through the end of this year;

•· Temporarily allow exchange of Low-Income Housing Tax Credit allocating authority for tax-exempt grants and appropriates $2 billion in HOME funding for affordable housing projects;

•· Provide up to a 10-year deferral of tax due to business debt restructuring;

•· Expand the net operating loss carry back period from two years to five years for small businesses (businesses with average gross receipts of no more than $15 million over the prior 3 years) for losses arising in tax year 2008;

•· Extend the 25C existing home remodeler credit through the end of 2010, increase the credit rate from 10 percent to 30 percent, raise the lifetime cap from $500 to $1,500, and expand the set of qualifying property;

•· Provide an Alternative Minimum Tax patch for tax year 2009;

•· Increase bonus depreciation and Section 179 small business expensing for business investment in 2009;

•· Increase New Markets Tax Credit allocating authority for 2008 and 2009; and

•· Delay for one year the start of the 3 percent government contractor withholding requirement (from 2011 to 2012).

Once the bill is signed into law, NAHB will be reaching out to you and your locals to provide information and marketing tools to make home buyers aware of the tax credit and to help builders utilize other aspects of the legislation in order to maintain and/or grow their businesses. (Attached at the bottom of this memo is a file that contains key provisions of the American Recovery and Reinvestment Act of 2009.)

Keep in mind this stimulus legislation is just a first step and we know it is far from perfect. Rest assured, NAHB will leave no stone unturned until the housing market gets back on track. In the days, weeks and months ahead, NAHB plans to work closely with the Congress and the Administration on a host of issues to achieve these aims. Our primary focus will be on efforts to:

•· End the credit crunch, particularly as it relates to acquisition, land development and home construction lending;

•· Mitigate foreclosures; and

•· Further reduce mortgage interest rates to stimulate home buying.

We will make every effort to keep you informed through your local association, Nation's Building News (NBN), and other communications vehicles over the coming days and weeks.

Key Provisions in Stimulus Bill
0 Comments