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Troy Ott

Home Sellers Becoming Lenders

10-27-08
Troy Ott

The concept of owner financing is not new, but in today's tough market, being willing and able to finance the sale of your home can give the seller a definite edge. When you eliminate the hurdle of qualifying for a loan, you will double the amount of buyers interested in purchasing your home. Check out www.notequeen.com. Seller financing can help buyers who may be having trouble getting a loan, due to self employment or because they work on commission for instance, or it can help those with damaged credit if it can be explained. In return for financing the mortgage sellers receive a steady income stream from the mortgage payments and at a time when other investments are risky at best, the interest on the mortgages could provide sellers with a welcome return perhaps 7% or more. Sellers can defer capital gains and create retirement income. Those who own a home free and clear or have a lot of equity built up are ideal candidates and may find this strategy particularly attractive. To protect themselves sellers should ask for a sizeable down payment from a buyer, 10% is the best option to make sure the buyer has a stake in the outcome and is vested in making the deal work. Sellers need to work with a real estate attorney to craft the terms of the deal with details including what constitutes a late payment and default or what happens if the buyer neglects to adequately insure the property. TJ Harrington thomas.harrington@brockandscott.com is your man locally 803-237-6422 cell, simply the finest most proactive real estate attorney in our market. Sellers can hire a loan service to collect as well, www.sellerloans.com and www.virginmoney.com are excellent resources as well. Sellers please call or email anytime to make this happen for you if you are ready.

803-917-1893

www.troyott.com

Trulia - Great Resource for Consumers

10-17-08
Troy Ott

http://www.trulia.com/real_estate/Columbia-South_Carolina/

Follow this link to visit Trulia's analysis of the Columbia market. This excellent resource provides information such as current homes for sale, median home prices along with median selling prices, crime rates, school ratings, and other valuable information. Heres a quick summary of some current statistics:

Average Listing Price $238,126

Average Selling Price $167,775

1,666 homes for sale with 329 being foreclosures.

Average price per square foot = $77

Foreclosure Buying Tips

10-16-08
Troy Ott

SUREFIRE TIPS FOR BUYING FORECLOSURES

1. NEVER PAY A FEE FOR PROPERTY LISTINGS, YOU CAN READILY FIND FREE INFO ON FORECLOSED HOMES IN YOUR AREA BY CHECKING WITH YOUR LOCAL AGENT. I SPECIALIZE IN FORECLOSED UPON HOMES IN COLUMBIA, LEXINGTON, AND LAKE MURRAY AND CAN BE YOUR RESOURCE. WWW.FORECLOSURE.COM IS A WONDERFUL SUPPLEMENT AS WELL.

2. ALWAYS INVEST IN A HOME INSPECTION, CHARLES STRICKLAND 803-407-3233 IS THE WAY TO GO MAIL@SCHOMEINSPECTOR.COM HE AND HIS TEAM WILL SAVE YOU TIME AND MONEY WITHOUT A DOUBT, MENTION TROY OTT AND RECEIVE A DISCOUNT.

3. NEVER ASSUME THE SALE IS FINAL. IN SOME STATES A HOMEOWNER MAY HAVE UP TO 180 DAYS AFTER THE FORECLOSURE TO PAY OFF HIS DEBT AND RECLAIM THE HOME EVEN IF IT HAS BEEN BOUGHT BY SOMEONE ELSE, YOUR RESOURCE HEREIN IS TJ HARRINGTON THOMAS.HARRINGTON@BROCKANDSCOTT.COM (HE DA MAN) SIMPLY THE FINEST REAL ESTATE ATTORNEY I KNOW BAR NONE. MENTION TROY OTT WITH HIM AS WELL, AND RECEIVE A DISCOUNT FOR SERVICES RENDERED.

4. ALWAYS BUY TITLE INSURANCE, IT WILL PROTECT YOU AGAINST LIENS THAT YOU MIGHT NOT KNOW ABOUT, IT WILL ALSO MOST IMPORTANTLY PREVENT A PREVIOUS OWNER FROM MAKING A SUCCESSFUL CLAIM ON YOUR HOME AFTER YOU HAVE BOUGHT IT.

NOW GO OUT THERE AND BUY SOMETHING, AND BEFORE YOU DO ALWAYS CONSULT A REALTOR!!!!!!! YOUR THOUGHTS AND EXPERIENCES ARE WELCOMED HEREIN, PLEASE FEEL FREE TO AU PINE IF YOU WILL.

Cost Saving Solutions for Your Kitchen

10-16-08
Troy Ott

1. Add space and light by removing that unnecessary wall. Look to removing a wall to counter paying thousands of dollars to build additional floor space. Consider replacing partition walls with as ingle supporting beam, for more light add a skylight and consider enlarging the windows you have at present.

2. Do not move outdated plumbing necessarily. If it works keep it, also keeping your appliances in their same place will save you thousands well.

3. Unclutter your countertops with special hardware. Limited counter space does not have to mean limited workspace. consider mounting a stand mixer and a food processor on heavy duty appliance lifts from rev-a shelf keeps them out of the way instantly accessible. The bracket are strong enough to support an appliance in use so you can lift it up to create a portable work station.

4. Choose to buy ready to assemble cabinets. Our selections included drawer boxes ordered from drawer box specialities. Ordering parts of course by mail and installing them yourself require careful planning and precise measurements but the payoff is major savings.

5. Look for a variety of countertop materials. Most folks want granite for it looks and durability, but if your budget is small look to shop around I found 3/4 quarter inch thick granite slab that cost 30 percent less than a 1.25 inch version. The granites true thickness is visible around the undermount of my sink renovation, but a laminated edge makes it look like a thicker slab and hides the plywood backing, which adds structural support to the countertop. A maple butcher block top on the island costs only about $450, a word to the wise plan your strategy before hand and allow your time and resources to be flexible so your final work comes about seamlessly without adding additional stress and worry.

Help Make A Differnce - Turn Your House Green!

10-16-08
Troy Ott

FALL OFFERS A BREAK FROM SCORCHING TEMPS THANK GOD AND THE HIGH ENERGY BILLS THAT COME WITH IT. THE FOLLOWING ARE TIPS FOR MAKING THE MOST OF THE COOLER WEATHER.

1. OPEN WINDOWS WHENEVER POSSIBLE TO TAKE ADVANTAGE OF OUT OUR DOOR BREEZES. WHILE THERE ARE SECURITY AND SAFETY CONCERNS THAT DICTATE HOW OPEN YOU CAN KEEP WINDOWS, THE BOTTOM LINE IS THAT OPERABLE WINDOWS ARE A GREAT FEATURE IN YOUR HOME AND IT PAYS INDEED TO KEEP THEM OPEN WHENEVER POSSIBLE TO GET THOSE BREEZES FLOWING THROUGH YOUR HOME IF YOU HAVE AN OLDER HOME WITH AN ATTIC FAN THIS WOULD ACCENTUATE THE EFFECT DRAMATICALLY.

2. OPEN AND CLOSE DRAPES OR BLINDS AS NECESSARY. SHUTTING THEM TIGHTLY DURING THE DAY KEEPS OUT THE HOT SUN WHILE OPENING THEM AT NIGHT HELPS GET RID OF INTERNAL HEAT.

3. FANS SHOULD BE USED LIBERALLY THROUGHOUT YOUR HOME. RESEARCH SHOWS THAT FAN BLOWING OVER YOUR SKIN WILL MAKE YOU FEEL AS MUCH AS 3 DEGREES COOLER THAN IF THAT BREEZE WAS NOT HITTING YOU.

3. DO NOT LET THE HEAT BUILD UP INDOORS. WASH CLOTHES AT NIGHT WHEN THE TEMPERATURE IS COOLER, ALSO INSTEAD OF USING THE OVEN TO COOK A BIG MEAL, TRY THE MICROWAVE OR COOK OUTDOORS ON YOUR GRILL WITH THE FAMILY.

4. TURN OFF ALL UNNEEDED LIGHTS. USE COMPACT FLUORESCENT BULBS WHICH ARE MUCH LESS EXPENSIVE THAN BEFORE AND THEY DO NOT GIVE OFF HEAT AND USE FAR LESS ELECTRICITY. ALSO TURN OFF THE TV AND OTHER APPLIANCES NOT IN USE TO REDUCE THE HEAT THESE PRODUCTS PRODUCE IN YOUR HOME.

5. UTILIZE THOSE EXHAUST FANS IN BATHROOMS AND KITCHENS THEY MAKE A HUGE DIFFERENCE INKEEPING HUMIDITY OUT OF YOUR HOME. KEEP THEM RUNNING FOR 10 TO 20 MINUTES AFTER A SHOWER AND YOU'LL KEEP INDOOR HUMIDITY LEVELS SIGNIFICANTLY LOWER. 6. DRESS FOR THE WEATHER AND WEAR COMFORTABLE LOSE COTTON CLOTHES INSTEAD OF WARMER SYNTHETICS. AND LADIES ALWAYS WEAR AS LITTLE AS POSSIBLE, IT IS IN THE PUBLIC INTEREST FOR YOU TO DO SO.

REMEMBER ALWAYS USE A REALTOR WHEN BUYING, SELLING, OR RENTING REAL ESTATE, 917-1893 OR WWW.TROYOTT.COM WILL GET YOU STARTED IN THE RIGHT DIRECTION.