Sammamish, WA

This months item of value is a comprehensive review of Identity Theft. Most would be home owners are never aware of impact that Identity theft has on their ability to get a great rate and it may not allow them to even get a loan. As you begin the home buying process it's important to ensure you aren't a victim of Identity Theft. Here is how to prevent it from happening to you!

ATTEMPTS TO SCAM PEOPLE OUT OF THEIR HARD-EARNED MONEY ARE NOTHING NEW,BUT WITH TECHNOLOGICAL ADVANCEMENTS, SCAMMERS ARE BECOMING MORE SOPHISTICATED.

LEARNING HOW TO QUICKLY SPOT THESE SCAMS WILL PREVENT YOU FROM BECOMING THEIR NEXT UNSUSPECTING VICTIM.

TOP SIX SCAMS

Mortgage Fraud

There are many types of schemes, including foreclosure rescue, loan

modification or reverse mortgage scams, and all contain some type of material misstatement, misrepresentation or omission of information relating to the

property or potential mortgage.

Unauthorized Credit Card Charges

Scamming occurs when a company that has your credit card information on file makes unauthorized charges and hopes the victim either doesn’t notice or thinks reversing the charges will be too much trouble. To get your credit card information, some companies will offer a “free trial” and then sell the credit card information to another disreputable group.

Overpayment Scams

Fraudsters negotiate contracts requiring payment to their victims. Ultimately, the victim receives an illegitimate payment larger than the amount owed, and then scammers instruct their victims to wire the money back to them. Several varieties of this scam exist, such as secret shopper, pet schemes and false roommates.

Identity Theft

This type of scamming occurs through the use of fraudulent, unsolicited e-mails that use spam to steal identity information. The e-mails solicit personal information, such as a bank account number, by falsely claiming that the FBI needs such information for an investigation and non-compliance will be prosecuted.

Insurance Fraud

In these cases, the scammer files a false insurance claim as an illicit attempt to collect insurance proceeds. For example, arson-related incidents have been reported by homeowners of distressed properties in an attempt to avoid foreclosure. This has grown more prevalent in the wake of Hurricane Katrina and other catastrophes. These frauds, in turn, increase the cost of homeowner’s insurance premiums annually.

Computer Intrusion Scams

In frauds such as the Nigerian e-mail scam, the scammer claims to desperately need short-term financial assistance to see them through a crisis with the false promise of full reimbursement and a generous cash gift for their assistance.

• Federal Bureau of Investigation http://www.FBI.gov
• Department of Housing and Urban Development—Office of Inspector General (HUD-OIG reports) http://www.hud.gov/offices/oig
• Consumer Affairs http://www.consumeraffairs.com
• National Insurance Crime Bureau http://www.nicb.org

Stay Informed to stay PROTECTED!

HERE ARE A FEW PREVENTATIVE MEASURES AND TIPS YOU NEED TO KNOW TO AVOID BECOMING A VICTIM OF A SCAM.

Mortgage Debt Elimination Schemes

Be aware of e-mail or web-based advertisements that promote the elimination of mortgage loans, credit card and other debts, while requesting an upfront fee to prepare documents to satisfy the debt. There is no easy method to relieve your debts, and borrowers may end up paying thousands of dollars in fees without the elimination or reduction of any debt.

Foreclosure Fraud Schemes

Perpetrators mislead homeowners into believing that they can save their homes in exchange for a transfer of the deed and upfront fees. The perpetrator profits from these schemes by remortgaging the property or pocketing fees paid by the homeowner without preventing the foreclosure. The victim suffers the loss of the property, as well as the upfront fees. Always seek a qualified credit counselor or attorney for assistance.

Predatory Lending Schemes

Beware of lenders who tell you that they are your only chance of getting a loan or owning your own home, and avoid “no money down” loans. This is a gimmick used to entice consumers to purchase property that they likely cannot afford or are not qualified to purchase. Be wary of mortgage professionals who falsely alter information to qualify a consumer for a loan. Do not let anyone persuade you into making a false statement, such as overstating your income, the source of your down-payment or the nature and length of your employment. Never sign a blank document or a document containing blanks.

FREE PROPERTY MONITOR AND ALERT SYSTEM: http://www.epropertywatch.com/myhome

Things you should do: • Insist on learning the full name, address and contact information for any company soliciting your business, personal information or assistance. • Insist that all solicitors send materials to you in writing so that you are able to study the full details of the offer, as well as any guarantees and/or refund policies. • Research all solicitors through the Better Business Bureau, Attorney General’s Office and/or consumer protection service in the state or city where the company is located. • To stop receiving telephone solicitations, instruct solicitors to delete your contact information from all call lists and register with the FTC’s “Do Not Call” registry. • Report suspicious telemarketing calls, mail solicitations or advertisements to the FTC at 1-877-FTC-Help (382-4357) or online at www.ftc.gov

Things you should NOT do: • Do not make any payments to either secure a prize or improve your chances of winning a prize. • Do not be intimidated into making hasty financial decisions by high-pressure sales tactics. • Do not provide anyone with your sensitive personal or financial information unless it is to an entity whose legitimacy is personally known to you or you personally initiated the contact with the entity. • Do not send funds via wire or electronic money transfer services unless it is to an entity whose legitimacy is personally known to you or you personally initiated the contact with the entity. • Do not be lured by offers that are simply too good to be true ...they almost certainly are.

IF YOU SUSPECT FRAUD, CONTACT YOUR LOCAL FBI FIELD OFFICE OR SUBMIT A TIP ONLINE AT HTTPS://TIPS.FBI.GOV

I trust you find this information useful in preventing Identity Theft. Please pass this blog post along to any one you feel that would value this information. THE GREATEST COMPLEMENT I CAN RECEIVE IS YOUR RECOMMENDATION TO A FRIEND OR FAMILY MEMBER!

I was originally going to post some information on the reported extension of the homebuyer tax credit, but I thought is prudent to wait for more news to materialize about the details of the proposed extension and expansion of the first time home buyer tax credit.

I first heard of the extension from a blogger on Active Rain. In classic fashion senators said it's a done deal. Leaving out that there are many issues still unresolved. Here is where we stand as of October 29th. The tax credit would be extended through the end of June. The home must be in contract by April 30th, 2010 and close no later than 60 days.

Move up buyers would get a new tax credit: "Tax credit for move-up buyers will be less than for first-time buyers, but still significant. They will qualify for a credit of up to $6,500 and must have owned their current homes at least five years. Under the current program and the new one for 2010, first-time buyers qualify for up to $8,000 and cannot have owned a home for the past three years."

One other provision still being worked out is adjusting the income limitations to raise them to $125,000 for a individual and 225,000 for a couple filing jointly. This is up from the previous of $75,000 to $150,000 that is currently in place for the current tax credit.

I was never a big fan of the tax credit however, it has been a motivating factor for many buyers and has generated over 400K in new home purchase transactions. It was a large factor in GDP growth in Quarter 4 of this year (for the first time in 4quarters.) However I always thought that ending the credit in November was a double negative. In the real estate industry, we all know the months of November & December are seasonally slow. And I don't believe this is going to spur major activity over the holiday season, it will keep it from completely falling off. Keep in mind that this still has some final tweaking before the final bill is done, but I think with today's market reaction, to return to strong job growth the economy needs to keep heading in the right direction, up. The extension of the tax credit may be the thing that keeps this economy on the road to recovery.

As a Sammamish WA REALTOR I have seen first hand the effects of staging a home. It is my recomendation that before you show your home to any potential buyer be sure to go through your whole house with your agent to finish the Staging process. Meanwhile, here are some quick tips to help you start. Follow these general tips and your home will look better than the competition. Staged Homes sell faster and/or for more money!

INSIDE
• Clear all unnecessary objects from furniture throughout the house. Keep decorative objects on the furniture restricted to groups of 1, 3, or 5 items. In general, a sparsely decorated home helps the buyer mentally ‘move in’ with their own things.
• Rearrange or remove some of the furniture in your home, if necessary. Many times home owners
have too much furniture in a room. When it comes to selling your home, thin out overcrowded rooms to make the rooms appear larger.
• Clear all unnecessary objects from the kitchen countertops. If it hasn’t been used for three months…put it away! Clear refrigerator fronts of messages, magnets, pictures, etc.
• In the bathroom, remove any unnecessary items from the countertops, tub, shower stall and commode top. Keep only the most necessary cosmetics, brushes, perfumes, etc., in one small group on the counter. Coordinate towels in one or two colors only.
• Take down, reduce, or rearrange pictures and objects on walls. Patch and paint all walls, if necessary.
• Review the house interior, room by room, and:
1. Paint any room needing paint.
2. Clean carpet and draperies that need it.
3. Clean windows.
• If you need room to store extra possessions use the garage or rent a storage unit.
• Leave on certain lights during the day (your agent will show you which ones). During showings turn on ALL lights and lamps.
• Play light FM music every day in the house, for all viewings.

OUTSIDE
• Go around the perimeter of the house and move all garbage cans, discarded wood scraps, extra building materials, etc., to the garage or, if applicable, take them to the dump.
• Check gutters and roof for dry rot and moss. Make sure they are swept & cleaned.
• Look at all plants. Plants are like children…they grow so fast. Prune bushes and trees. Keep plants from blocking windows: “You can’t sell a house if you can’t see it!”
• Remove any dead plants, weed all planting areas and put down fresh mulching material.

• Keep your lawn freshly cut, edged and fertilized during the growing season.
• Clear patios or decks of all small items, such as little planters, flower pots, charcoal, barbeques, toys, etc.
• Check the condition of the paint on your home, especially the trim and the front door. The first impression, or ‘curb appeal,’ is very important.

IN GENERAL
Try to look at your house “through a buyer’s eyes,” as though you’ve never seen it before. This exercise will help you see what needs to be done. Any time and money invested on these items will usually bring you the return of more money and a quicker sale.

My primary goal as a real estate professional is to obtain top dollar for your home. In order to do this, we must present your home in the best light possible. As an ASP Realtor, I have the tools and training to assist you in making your home - not just competitive - but compelling. Dan Edwards and I, at Northstone Real Estate, make up a dynamic team providing a comprehensive package of real estate services to meet your every real estate need.

If your looking for the perfect team Dan Edwards and Tawni van Wageningen are the Sammamish WA area REALTORS for you!