About Covington's Foxwood

There is a question that often comes up when a seller decides to do a short sale process. The question that comes up often is "if a lender agrees to the short sale option on my property, can the bank still proceed with a foreclosure?"

The simplest way to summarize this answer is that both processes are parallell to each other. Here is why.

The foreclosure could be considered as a separate and distinct action taking place, even though the lender has agreed to the short sale proposal. This can easily occur when different departments of the same lending institution are seeking different outcomes, or simply because the bank, after agreeing to a proposed short sale outcome, but before signing a contract, believes that foreclosure would represent a more favorable outcome for the lender.

The submission of a short sale package/kit to the lender does not automatically stop a foreclosure action. Once a lender initiates a foreclosure action, the homeowner should consider that the lender will most likely retain this position until the lender has a signed contract in hand, has agreed to the short sale proposal, and has closed on the sale of the property.

At the time the lender agrees to the short sale proposal, the lender may or may not choose to terminate or postpone the foreclosure. A foreclosure may also proceed in the case of subordinate lien holders not having agreed to waive their lien on the property.

Because of the multiple stakeholders involved, and the complex nature of the regulatory environment, qualified, licensed counsel can be critical in taking steps to prevent a lender from not following through with the short sale process, especially in the case of a lender who has the intention of opting for a foreclosure-based resolution.

In today's tough market, anything an everything you can do to prepare your house for sale is very important.

Here are some tips that I am going to be dividing into 2 blog posts as not to overwhelme the reader.

~Stimulate buyer’s imaginations by setting scenes throughout the house, such as a chess game in the corner of your family room.

~Create a spacious feeling while showing your house; open all doors fully.

~Use folded quilts, bright colored pillows and fresh flowers to draw attentio to the positives.

~A bright colored umbrella on the deck invites buyers to use the backyard as long as it doesn’t block any good views in the backyard.

~Disguise unsightly views. Remove dark, heavy drapes and replace with light sheers; let breeze blow in and move sheers.

~Place 3 to 4 inch glass shelves inside window frames for reflective quality. Never block light, and never apologize for a bad view.

~Eliminate bad odors. Breathe fresh outside air, then go indoors and hunt down offensive odors. Use Lysol, potpourri, carpet fresheners, deodorized cat liter, and cedar chips or blocks in your closets.

~Keep front door area (inside and out) clean and uncluttered. Buy a new door mat (avoid mats with cute sayings), clean brass door knockers, and place potted flowers on front porch. Color is important.

~Avoid eccentricities such as beads in doorways, wild posters, dark walls, mirrored ceilings, sacred temples, etc. Your house must appeal to masses.

~Hold a garage sale before listing your home to make certain that all storage areas, closets, and the basement and garage are uncluttered and spacious.

~Find the fine line between clutter and emptiness.

It is Spring time. Is now the right time to buy home? Even though there is so much fear in the market right now?

One way to determine whether the time may be right for you to consider buying a home is to start looking at the rents in your community. When paying for a full mortgage begins to equal or fall lower than rental rates, the market is typically near the bottom, and you should see housing begin to stabilize.

In many parts of the country, we have already seen this occur. According to the National Association of Realtors, median home prices nationally fell 15.5% in February from the previous year. The median price, not the average price, represents the market price for a given period of time where half the homes sold for higher and half sold for less.

While the general media would lead you to believe that the sky is falling, things may not be as bad as they seem. It simply makes more sense to own right now than to rent in many communities.

For first-time home buyers, it makes even more sense to buy right now. Not only are home prices lower than they have been in the last five years, mortgage interest rates are near historical lows.

To add to this advantage, the government is offering first-time buyers (anyone who hasn't owned a home in the last three years) a temporary tax credit of up to $8,000 that doesn't have to be paid back. What's great about this credit is one can even amend their 2008 tax return to recapture the credit this year, which means they don't have to wait until next April to get their money.

A number of different factors, including households resulting from divorce, "echo boomers" becoming adults, and a continued increase in immigration could lead to an increase in demand for housing in the near future.

The Greater the Need, The Higher the Price. The more you want or need something, the more you are willing to pay for it. It's simple economics.

Take housing, for instance. Inventories are up, fewer people are buying today as compared to a few years ago, and prices have declined. As prices decline, builders build fewer homes.

With multiple-year declines in new construction, this simply means that as more people come into the market to buy a home, there will be fewer homes from which to choose, and prices will be forced higher.

No one can time the market perfectly and find the exact bottom. But even if you don't, it's okay. Interest rates are at their lowest in decades, home prices are extremely low, and this combination yields the greatest increase to home affordability in years.

It is a new week and many things to do at the newly remodeled Covington Libray. Why not take advantage of these free events. Take your children to the Library, because it is story time.

Take advantage of a beginners computer class to learn to use Microsoft Word or improve your English for the non-English Speakers.

Wee Ones Story Times
Event Type: Children's Story Times
Date: Tuesday, April 14, 2009
Start Time: 10:05 AM
Library: Covington Library
Description: Newborn through prewalkers with adult
Enjoy bouncy rhymes, familiar songs and a wee bit of story in this 20-minute session. A fun way to bond with your baby through books.
Age(s): Children & Families
Other: Story Time will be held in the Story Time room.

Young Toddler Story Times
Event Type: Children's Story Times
Date: Tuesday, April 14, 2009
Start Time: 10:45 AM
Library: Covington Library
Description: For walking babies/young toddlers (or waddlers) up to 24 months with adult
Enjoy bouncy rhymes, familiar songs and a wee bit of story in this 20-minute session. A fun way to start your child on the...
Age(s): Children & Families
Other: Held in the Story Time room.

Pajamarama Story Time
Event Type: Children's Story Times
Date: Tuesday, April 14, 2009
Start Time: 7:00 PM
Library: Covington Library
Description: All ages welcome. Children are invited to come in their jammies to enjoy stories, songs and activities that build language skills.
Age(s): Children & Families

Game On!
Event Type: Teen Programs/Games
Date: Wednesday, April 15, 2009
Start Time: 4:00 PM
Library: Covington Library
Description: Play videogames at the library! We have a Wii, a PS2, Xbox 360s, GameCubes and tons of great games. Just show up and play. It's free!
Age(s): Teens

Toddler Tales Story Time
Event Type: Children's Story Times
Date: Wednesday, April 15, 2009
Start Time: 10:05 AM
Library: Covington Library
Description: Ages 2 to 3 with adult
Nurture a love of books as you and your toddler enjoy reading, rhymes, songs and movement activities.
Age(s): Children & Families

Preschool Pizzazz Story Time
Event Type: Children's Story Times
Date: Wednesday, April 15, 2009
Start Time: 10:45 AM
Library: Covington Library
Description: Ages 4 to 6 with adult, younger siblings welcome
Help your preschooler get ready to read! Enjoy stories, songs and activities that build language skills.
Age(s): Children & Families

Spanish/English Story Time
Event Type: Children's Story Times
Date: Wednesday, April 15, 2009
Start Time: 7:00 PM
Library: Covington Library
Description: Everyone welcome, children must be accompanied by adult
Join us for stories, songs, rhymes and activities in Spanish and English.
Age(s): Children & Families
Other: Registration not required.

Microsoft Word I
Event Type: Computer Classes
Date: Thursday, April 16, 2009
Start Time: 1:00 PM
Library: Covington Library
Description: Learn basic skills for entering, correcting and revising text on a computer. Requires basic computer skills, use of a keyboard and mouse.
Age(s): Adults

Young Readers Brunch Book Bunch
Event Type: Children's Programs NOT Story Times
Date: Saturday, April 18, 2009
Start Time: 10:00 AM
Library: Covington Library
Description: Grades 1 to 3, adult partner welcome
Covington's kids book group will read and talk about books while we munch a mid-morning snack! Snack is provided but you may bring your own if you wish. Our boo...
Age(s): Children & Families
Other: Book group meets monthly. Sponsored by the Friends of the Covington Library

Super Saturdays Story Time
Event Type: Children's Story Times
Date: Saturday, April 18, 2009
Start Time: 3:00 PM
Library: Covington Library
Description: All ages welcome
Enjoy stories, songs and activities that tickle the imagination.
Age(s): Children & Families

Talk Time
Event Type: Talk Time
Date: Monday, April 20, 2009
Start Time: 10:30 AM
Library: Covington Library
Description: Free conversation class to improve basic English. Meet people from around the world and learn about American culture.
Age(s): Adults
Other: Registration not required.

Foxwood is one of the desirable neighborhoods in Covington which is walking distance to Kentwood High School and Suncrest Elementary. It is a desirable neighborhood in Covington, because of his easy access to HWY 18 and walking distance to downtown Covington. There are Khols, Walmart, Costco, Home Depot, Fred Meyer, Safeway, QFC, and so much more that it will take up a very long list. I am not kidding when I tell you that you can live in Covington and not have to go outside the City.

The round abouts have given Covington a unique feel and look.

Covington is a great small city to live in.