Sue Kuhn

I've recently worked on a transaction for a buyer who wanted to purchase a condo in Amherst, Ohio. It fell through the cracks because the association has not gotten their subdivision approved by the U.S. Housing and Urban Development for FHA financing. What's sad about this particular transaction is that the buyer was very qualified to purchase this condo and, because the development was not FHA approved, was even able to qualify for a conventional 5% down loan. All was going well until the appraiser threw in the monkey wrench! The appraiser deemed the property "distressed" due to the time this property has been on the market, along with the fact that overall prices in this subdivision have substantially depreciated. Because of the tag "distressed" the mortgage insurance company demanded an additional 10% down to do the loan.

Nine out of ten home buyers use FHA financing today. FHA is a U.S. government backed insurance program that gives more buyers the ability to enjoy the American Dream. FHA ensures the lender will be paid the balance of the mortgage should the homeowner default on their loan. The rules and guidelines for FHA financing have become very strict today to ensure the American Tax Payers are better protected against bad loans, such as what we've experienced with all the forclosures. Doctors, lawyers, police officers, nurses, school teachers and more use FHA financing because they have the salary to make the payment and only have to put down 3.5% as a downpayment.

FHA has become even more strict on condo associations and require they become an "approved association" by FHA. FHA wants to know about the ownership, (ie... how many units are owner occupied, how many are owned by investers as rental properties, whether or not the association has enough funds in reserve, and more). This actually protects the homeowners and the market values of these homes.

If your association board has not become FHA approved they are doing you, the homeowners, a huge disservice. Houses stay on the market longer because the pool of potential buyers is much smaller... only one out of ten buyers can purchase in a non-approved subdivision. Statistics show that the longer a home stays on the market the lower the selling price will be. This subdivitsion I am speaking of has definitely seen the consequences of not being FHA approved. In its day the average price of $180,000 was the norm. In December of 2010 a 2100 sq. ft. home sold for $128,500.

My recommendation to anyone living in a condominium today is to pay attention to what your board is doing and make sure they do what they need do to protect home values. Becoming FHA approved is definitely the right decision to protect condo home values.

I have a Client Appreciation Program (CAP) where I send out monthly Items of Value to my clients that provide information that either they or someone they know will find useful. These Items of Value do not always revolve around the real estate market, but can range from being a reminder about a postal rate change, to ways to protect your identy, to ways to increase knowedge about going green. This month, with spring coming upon us, I would like to relay some information about increasing your homes value through curb appeal.

In today's times when you are getting ready to sell and know that you will be competing with many homes in your price range, making your home stand out from the rest is very important. The way a home presents itself outside is as important as the price tag that is placed on it. Buyers make a conscious decision whether they want to see a home inside by how it looks outside. Their perception is that if a home doesn't look taken care of on the outside it probably is the same on the inside.

When you're getting ready to sell you must make your home look like a product rather than a home you live in. Every nook and cranny must be clean, walls freshly painted if need be, furniture re-arranged to create a more spacious look, etc. Did you know your curb appeal is worth dollars too! Landscaping can add 7-15% to your home's value while returning 100-200% of the cost to improve your landscapie. In comparison, Money Magazine reports, a swimming pool only returns 20-50%.

Other added value for a homeowner to pay particular attention to landscaping is the energy savings mature landscaping can provide, the noise it can buffer, as well as, the clean air because plants can reduce air pollution.

Other ways to make your home more curb appealing are to paint your front door, change outside light fixtures to ones that complement your home's style, trim the bushes, add color with flowers, remove weeks from the soil and cover with fresh mulch or ground cover, paint the front door, add a new mailbox and handsome street numbers.

This post is just one of many that will be coming to show my appreciation to the clients and past clients I am currently serving, as well as, those who may be future clients. If you would like to participate in my CAP Program, send me an email or give me a call with your contact information.

Until the next time, be grateful and

Seize the day!

As a strong believer in a positive attitude, I know that a major part of attitude is gratefulness. After reading "The Power of Positive Thinking" I believe it even more. One of the stories Norman Vincent Peale tells is about a man who came to him after losing his business telling him that he's lost everything. To make a long story short, Mr Peale asked if he'd lost his wife, his children, his health, etc. The man replied that his wife was very supportive and loved him greatly, his children also loved and supported him, and he was a healthy individual. So, the man really had not lost everything. In fact, he had the most valuable gifts surrounding him and he didn't even recognize it.

I think we all feel that way one time or another, especially since we're dealing with such hard economic times. If we step back and really take a hard look, we all have many things to be grateful for on a daily basis.

Keeping this in mind, I'd like to start a daily blog where we can tell each other what we're grateful for on an ongoing basis. Visit my new group....Gratitude, Let It Shine!

And, oh by the way, I'm never too busy for any of your Northeast Ohio referrals!

I got an interesting email today and thought I would share it with everyone. It reads as follows:

"Thou should heed the advice of the 'Second Ten Commandments' By HARVEY MACKAY, Star Tribune

We all know about the original Ten Commandments, but have you ever heard of "The Second Ten Commandments"? These pearls often have been attributed to one Elodie Armstrong; here they are with my spin on them:

• Thou shall not worry, for worry is the most unproductive of all human activities. People get so busy worrying about yesterday or tomorrow, they forget about today. Today is what you have to work with.
• Thou shall not be fearful, for most of the things we fear never occur. Every crisis is multiplied when we act out of fear. Fear is a self-fulfilling emotion. When we fear something, we empower it. If we refuse to concede to our fear, there is nothing to fear.
• Thou shall not cross bridges before you come to them, for no one yet has succeeded in accomplishing this. Solve the issues before you right now. Tomorrow's problems may not even be problems when tomorrow comes!
• Thou shall face each problem as it comes. You can only handle one at a time anyway. Problem solving is not easy, so don't make it harder.
• Thou shall not take problems to bed with you, for they make very poor bedfellows. Problems seem much worse at night. If I wake up thinking of a problem, I tell myself that it will seem lighter in the morning and it always is.
• Thou shall not borrow other people's problems. They can better care for them than you can. I confess that I have broken this commandment because I wanted to help someone without being asked, or I thought I was more equipped to handle a situation. But I wouldn't have to deal with the consequences, either.
• Thou shall not try to relive yesterday. For good or ill, it is forever gone. Concentrate on what is happening in your life and be happy now! We think life will be better after we get a better job, make more money, get married, have a baby, buy a bigger house and so on. Yet, any of those may not make any difference. You are responsible for your own happiness.
• Thou shall be a good listener, for only when you listen do you hear ideas different from your own. You can win more friends with your ears than with your mouth. Hearing is a sense, but listening is an art. Success could hinge on whether you have mastered it. Most people won't listen to what you're saying unless they feel you have listened to them.
• Thou shall not become "bogged down" by frustration, for 90 percent of it is rooted in self-pity and will only interfere with positive action. Better to take a break, collect your thoughts, and redirect your attention to a positive first step. Then go on from there.
• Thou shall count thy blessings, never overlooking the small ones, for a lot of small blessings add up to a big one. We all have something to be grateful for, even on the worst days. Hey, you're still on the green side of the grass, aren't you?

Mackay's Moral: These may not be chiseled in stone, but try them -- they'll make your life less rocky."

I like these 2nd Ten Commandments and how well it fits our lives as Realtors. What great principles for us to follow!