Sandy Ogburn Sandlin - Fine Baton Rouge area homes

In our previous blog we looked at the first steps to take in Buying a Short Sale. We have found our property, taken a look at what needs to be done and have started the ball rolling on our own financing. So what comes next? Let's take a look at getting you into that home!!

At this point, your real estate agent should speak with the lien holder's loss mitigation department. Because of privacy laws, the seller will have to fill out, sign and usually notarize an authorization for the lender to talk with you about the mortgage. Without this authorization the lien holder cannot discuss anything with you. It is not because they do not want to facilitate the short sale; it is because they must have the seller's permission to disclose mortgage information.

Once the lines of communication have been opened, the lender will usually have you fill out a Short Sale Application. Some lenders do not require this but be prepared if they ask for you to do it. You may also want to go ahead and have your proposal ready as well; that way you can give everything to the lender at the same time. This will help speed up the process. Your proposal should have a copy of the authorization letter, purchase and sale contract (this will have the price on it), an estimate of the property's value, and a settlement statement. Your real estate agent can help you prepare your proposal.

The final steps are pretty similar to a conventional purchase of a property. Your first proposal may be rejected by the lender. They usually will come back with a counteroffer. This is the hard part. You have put a lot of time into your offer but don't be afraid to walk away if the lender cannot meet your price. Just like any transaction, you should know your limit and stick to it!

Finally, all parties agree on the price and terms! Next comes the closing and the home is all yours. One of the most important things to remember is the process may be long and trying but the reward is great! Having a real estate agent to help you walk through the process will insure you will make it to closing with a smile on your face!!

Need help finding short sales in your area? Give Sandy's Team a call at (225) 677-SOLD or email info@sandyco.com . We are here it help you in East Baton Rouge, Livingston Parish, and Ascension Parish.

There are many home buyers who are now considering buying a strange phenomenon called a short sale. We recently covered what a Short Sale is, but as a reminder, the lender agrees to accept a mortgage payoff amount less than the amount owed to allow the sale to go through. The lender forgives the seller of remaining balance of the loan. We covered how that can benefit you, but what are some basic steps to actually pursuing a short sell? This will be part one of a two part series, so let's get started!

Step one? Find the short sales. You can locate home that are in pre-foreclosure several ways. Online databases are the most popular but you can also search courthouse listings or legal ads. Of course, the best and most reliable way is through a Real Estate Agent! Now that you have found potential properties, go take a look!

Step two is fairly straight forward! What is the condition of the home? Do you see any major repairs that will have to be completed? This is the time to estimate how much it will take to renovate or repair the house. Don't be discouraged if it needs a little work!! The average buyer may not even consider the home at all and that is good for you! Make sure and do your research. You want to save money, not spend more than the house may be worth.

You have found the home, checked into the condition and potential cost of any repairs, so now what? The next step is finding out who has liens on the property. The seller or their agent should be able to provide you will all the lien holders on the mortgage. They will be able to tell you who the primary lien holder is. You also need to start thinking about your financing. Once everything is worked out and settled, the actual closing can be as fast as 20 days. You will want to have everything in place before that final agreement is reached. You may even see if the existing lender would be willing to give you a loan.

But that's jumping ahead, Dealing with the lien holder on the seller's home is a tedious process we will discuss next time. As we see, it is fairly unlikely you will be closing on the home in 20 days!

Need help finding short sale properties in your area? We can you find one and walk you through the process of buying one. Give Sandy's Team a call at (225) 677-SOLD or email info@sandyco.com. We are here it help you in East Baton Rouge, Livingston Parish, and Ascension Parish.

Have you hugged your tree today? You really should you know, it has done a lot for you! In your front yard is a beautiful mature maple tree. You don't think much about it. It is just always there. The kids sit in the shade and have picnics in the summer. In the fall you sometimes take a few moments to admire the colorful show it puts on, but for the most part it doesn't cross your mind very often. And that's ok, but your trees do more than you may know. Besides manufacturing oxygen and looking beautiful, your tree may be making you money! How? A new study shows that mature trees add to the value of your property.

Recently several nationwide surveys showed mature trees in a landscaped yard can increase the value of a property by 7 percent to 19 percent. I bet you want to go hug your tree now!! Beautiful lawns create curb appeal and Flower gardens are nice but they don't add to the value of a home. It is enough to convert almost any homeowner into a bona fide tree hugger!!

What can the average homeowner take away from this, besides a new love for arbor day? Well, many people often remodel and renovate and completely forget about their landscaping. If you are trying to increase the value of your home plant a tree too! Try to avoid the smaller "Charlie Brown Christmas Trees" you can get a home improvement stores. A more mature tree may cost a little more but these are the trees that will increase the value of your home.

The weather is beautiful so take some time to stroll through your local nurseries and see what you may like. You can even take a moment to talk with them about other landscaping ideas you have. Most offer a landscaping planner who can help you come up with an idea of how to go about changing the look of your yard. From rock borders to more mature trees, you may find yourself inspired when it comes to your yard!

Trees are pretty amazing! They create oxygen, cool us down, create privacy and now they can even increase the value of your home! Trees have that amazing ability to be a fort or a pirate ship. Whether it is memories of playing in a tree house or reveling in the glory of fall colors, trees are a part of us all! So go ahead, become a tree hugger!! We understand!

If you are looking for a home to go with your trees, give Sandy's Team a call at (225) 677-SOLD or email info@sandyco.com. We are here it help you in East Baton Rouge, Livingston Parish, and Ascension Parish.

Many people who pick up the paper or turn on cable news are wondering if now really is the time to be buying a home. Economic downturns and falling house prices have been the headlines for months. What is the average home buyer really supposed to do? Should you wait, just in case the market has not hit the bottom? What about financing? With all the problems banks are facing is there even money to borrow for a new home purchase? What is the answer? "Don't believe everything you read," says Neil Garfinkel, a real estate and banking attorney from a New York firm.

There are some economists and analysts who continue to preach doom and gloom. However, even in just the last few weeks real estate agents have seen a big turn around. Wonderful interest rates, first time home buyer stimulus and low house prices are causing a lot of agents to be very busy. If you are sitting on the fence, now may be the time for you to jump in with both feet and grab the deal of a lifetime!

The very first thing to do is get your financing lined out. Getting everything hammered out with a lender is almost more important than finding a home. It is not as easy to get financing as it used to be. It will take a little more effort than two or three years ago, but there is financing to be had.

Here are a few helpful hints to get you started. Check out these nonprofit organizations:

Neighborhood Assistance Corporation of America: a nonprofit community advocacy and homeownership organization.

NeighborWorks America: a national network of more than 240 community development and affordable housing organizations.

You can also check with builders for special incentives on new constructions. According to the National Association of Home Builders incentives can include; mortgage payments, up to 95 percent financing, deferred mortgage payments ( be mindful of the impact this may have on interest accrual), closing costs, and cash incentives. There have even been builders who help in paying homeowners' insurance polices or taxes for up to a year.

Home buyers are faced with many options right now. As the real estate market improves even more, you may not see the incentive stick around. If you are serious about wanting a new home, it is time to head to your lender and let them know you are ready to make a deal!!

Give Sandy's Team a call at (225) 677-SOLD or email info@sandyco.com. We are here it help you in East Baton Rouge, Livingston Parish, and Ascension Parish.

Some tax incentives set up to encourage Hurricane Katrina repair will end in December, 2009, not a year later as originally thought.

After Hurricane Katrina hit Louisiana, Mississippi, and Alabama in August, 2005, the Federal Government setup the GO Zone to encourage redevelopment in the area. Modeled after the New York Liberty Zone incentives that were formed for parts of lower Manhattan after the 9-11 terror strike, the legislation signed by President Bush was intended to stimulate rapid, private investment within the Gulf Opportunity Zone (GO Zone).

The plan offers investors GO Zone 50% bonus depreciation deduction for qualifying construction and renovation work. Needless to say, the plan has attracted investors from all over the country, as well as foreign investors. The material circulated to promote the program often states that any qualifying expenditures must be made by the end of 2010. However, the December 31, 2009 date was confirmed by GO Zone Gateway tax advisers, who confirmed the date with the IRS.

For more information about GO Zone projects and tax issues, call (561) 404-7375 or visit www.gozonegateway.com.

For new construction or great existing homes in the area, or used give Sandy's Team a call at (225) 677-SOLD or email info@sandyco.com. We are here it help you in East Baton Rouge, Livingston Parish, and Ascension Parish.