Each team member is required to maintain good standing as a member of the Pasadena – Foothill Association Board of Realtors (PFAR), California Association of Realtors (CAR), and National Association of Realtors (NAR).

The Manzo Team real estate agents are proficient at internet home searches, focused on locating suitable properties for clients, provide prompt & professional service when responding to property inquiries, and are well-versed in marketing strategies to expose our Pasadena listing inventory to the highest number of online buyers. We are driven on placing the clients best interests as top priority at all times. Superior customer service you expect from a top-notch RE/MAX real estate team.

•  Additional compensation for primary and subordinate lien holders.

•  Establishing incentive payments to servicers of loans refinanced under the HOPE for Homeowners Program, as well as originators of new HOPE for Homeowners mortgages.

•  Reducing costs of the program to the consumer.

To learn more about the changes to the HOPE for Homeowners program and other important provisions contained in the Helping Families Save Their Homes Act, click here.

The HOPE for Homeowners Program is an integral component of Making Home Affordable.  For more information on the Making Home Affordable program, visit http://makinghomeaffordable.gov/.

If you are at risk of foreclosure do not wait for assistance.  You should contact your mortgage lender immediately or call 1-888-995-HOPE (4673) to reach a HUD-approved housing counselor.  HUD-approved housing counselors can help you evaluate your income and expenses and understand your options – and – this counseling is FREE.

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balloon mortgage
A mortgage that has level monthly payments that will amortize it over a stated term but that provides for a lump sum payment to be due at the end of an earlier specified term.

balloon payment
The final lump sum payment that is made at the maturity date of a balloon mortgage.

bankrupt
A person, firm, or corporation that, through a court proceeding, is relieved from the payment of all debts after the surrender of all assets to a court-appointed trustee.

bankruptcy
A proceeding in a federal court in which a debtor who owes more than his or her assets can relieve the debts by transferring his or her assets to a trustee.

before-tax income
Income before taxes are deducted.

beneficiary
The person designated to receive the income from a trust, estate, or a deed of trust.

bequeath
To transfer personal property through a will.

betterment
An improvement that increases property value as distinguished from repairs or replacements that simply maintain value.

bill of sale
A written document that transfers title to personal property.

binder
A preliminary agreement, secured by the payment of an earnest money deposit, under which a buyer offers to purchase real estate.

biweekly payment mortgage
A mortgage that requires payments to reduce the debt every two weeks (instead of the standard monthly payment schedule). The 26 (or possibly 27) biweekly payments are each equal to one-half of the monthly payment that would be required if the loan were a standard 30-year fixed-rate mortgage, and they are usually drafted from the borrower’s bank account. The result for the borrower is a substantial savings in interest.

blanket insurance policy
A single policy that covers more than one piece of property (or more than one person).

blanket mortgage
The mortgage that is secured by a cooperative project, as opposed to the share loans on individual units within the project.

bona fide
In good faith, without fraud.

bond
An interest-bearing certificate of debt with a maturity date. An obligation of a government or business corporation. A real estate bond is a written obligation usually secured by a mortgage or a deed of trust.

breach
A violation of any legal obligation.

bridge loan
A form of second trust that is collateralized by the borrower’s present home (which is usually for sale) in a manner that allows the proceeds to be used for closing on a new house before the present home is sold. Also known as “swing loan.”

broker
A person who, for a commission or a fee, brings parties together and assists in negotiating contracts between them. See mortgage broker.

budget
A detailed plan of income and expenses expected over a certain period of time. A budget can provide guidelines for managing future investments and expenses.

budget category
A category of income or expense data that you can use in a budget. You can also define your own budget categories and add them to some or all of the budgets you create. “Rent” is an example of an expense category. “Salary” is a typical income category.

building code
Local regulations that control design, construction, and materials used in construction. Building codes are based on safety and health standards.

buydown account
An account in which funds are held so that they can be applied as part of the monthly mortgage payment as each payment comes due during the period that an interest rate buydown plan is in effect.

buydown mortgage
A temporary buydown is a mortgage on which an initial lump sum payment is made by any party to reduce a borrower’s monthly payments during the first few years of a mortgage. A permanent buydown reduces the interest rate over the entire life of a mortgage.

Pasadena real estate, Pasadena homes for sale, Pasadena realtors, Pasadena Condos For Sale

As a Pasadena real estate seller, you can play an important part in the timely sale of your property. When you take the following steps, you’ll help your RE/MAX Sales Associate sell your home faster, at the best possible price.

The easiest and most reliable way to improve the appeal of your home is to enlist a quality home service professional. The right professional can help real estate sellers get everything in order – from repainting the kitchen to arranging a thorough cleaning.

Guidelines for the Pasadena real estate seller

1. Make the most of that first impression
   A well-manicured lawn, neatly trimmed shrubs and a clutter-free porch help Pasadena real estate sellers put their best foot forward and make prospects feel welcome. So does a freshly painted – or at least freshly scrubbed – front door. If it’s autumn, rake the leaves. If it’s winter, shovel the walkways. The fewer obstacles between prospects and the true appeal of the real estate seller’s home, the better.
2. Invest a few hours for future dividends
   Here’s your chance to clean up in real estate. Tidy the living room, the bathroom, the kitchen. If your woodwork is scuffed or the paint is fading, consider some minor touch-ups and redecorating. Real estate sellers can benefit from updating the hardware on kitchen cabinets, adding new slipcovers to sofas and keeping a vase of fresh flowers in the entryway. These are some of the simple touches that can go a long way. If you’re worried about time, hire professional cleaners or painters to help get your house ready. Remember, prospects would rather see how great the real estate seller’s home really looks than hear how great it could look “with a little work.”
3. Check faucets and bulbs
   Dripping water rattles the nerves, discolors sinks and suggests faulty or worn-out plumbing. Burned-out bulbs or faulty wiring leave prospects in the dark. Don’t let those problems detract from what’s right with your home.
4. Don’t shut out a sale
   If cabinets or closet doors stick in your home, you can be sure they will also stick in a prospect’s mind. Don’t try to explain away sticky situations when you can easily plane them away. A little effort on the real estate seller’s part can smooth the way toward a closing.
5. Think safety
   Pasadena Real estate sellers learn to live with all kinds of self-set booby traps: roller blades on the stairs, festooned extension cords, slippery throw rugs and low-hanging overhead lights. Make your residence as safe as possible for visitors.
6. Make room for space
   Remember, potential buyers are looking for more than just comfortable living space. They’re looking for storage space, too. Real estate sellers should make sure attics and basements are clean and free of unnecessary items.
7. Consider your closets
   The better organized a closet, the larger it appears. Now’s the time to box up those unwanted clothes and donate them to charity.
8. Make your bathroom sparkle
   Bathrooms sell Pasadena homes for sale, so let them shine. Check and repair damaged or unsightly caulking in the tubs and showers. For added allure, real estate sellers should display the best towels, mats and shower curtains.
9. Create dream bedrooms
   Wake up prospects to the cozy comforts of your bedrooms. For a specious look, get rid of excess furniture. Colorful bedspreads and fresh curtains are a must if real estate sellers want buyers to be able to imagine relaxing there.
10. Open up in the daytime
    Let the sun shine in! Real estate sellers should pull back curtains and drapes so that prospects can see how bright and cheery the home is.
11. Lighten up at night
    Turn on the excitement buy turning on all your lights – both inside and outside – when showing your home in the evening. Lights add color and warmth, and make prospects feel welcome.
12. Avoid crowded scenes
    Potential buyers often feel like intruders when they enter a home filled with people. Rather than giving your house the attention it deserves, they’re likely to hurry through. Real estate sellers should keep the company present to a minimum.
13. Watch your pets
    Dogs and cars are great companions, but not when real estate sellers are showing their homes. Pets have a talent for getting underfoot. So do everybody a favor: Keep Kitty or Spot outside, or at least out of the way.
14. Think volume
    Rock-and-roll will never die. But it might kill a real estate transaction. When it’s time for a real estate agent to show the home, it’s time to turn down the stereo or TV.
15. Relax
    It’s best if you’re not there when your home is being shown. However if that’s not possible, be friendly – but it’s not necessary to force conversation. Prospects want to view the home with minimal distraction from the real estate seller.
16. Don’t apologize
    No matter how humble your abode, never apologize for its shortcomings. If a prospect volunteers a derogatory comment about your home’s appearance, let your experienced RE/MAX Associate handle the situation.
17. Keep a low profile
    Nobody knows a home better than the real estate seller. But RE/MAX Sales Associates know buyers – what they need and what they want. Your RE/MAX Associate will have an easier time articulating the virtues of your home if you stay in the background.
18. Don’t turn your home into a second-hand store
    When prospects come to view your home, don’t distract them with offers to sell those furnishings you no longer need. You may lose the biggest sale of all.
19. Defer to experience – It’s the Experience®
    When prospective buyers want to talk price, terms or other real estate matters, let them speak to an expert – your RE/MAX Realtor. As the real estate seller, you might feel tempted to weigh in, but your two cents could cost you much more.
20. Help your agent
    RE/MAX Associates have an easier time selling homes if showings are scheduled through their offices. And real estate sellers appreciate the results.

Pasadena Homes for sale | Pasadena Realty Office | Pasadena Homes for sale | Pasadena Realtors

]]> http://www.realestateworks.com/20-tips-on-selling-pasadena-real-estate-and-pasadena-homes-for-sale/feed/ 0 http://www.realestateworks.com/2700-sierra-madre-blvd-pasadena-ca-91107/ http://www.realestateworks.com/2700-sierra-madre-blvd-pasadena-ca-91107/#comments Mon, 18 May 2009 21:58:49 +0000 The Manzo Team http://www.realestateworks.com/?p=575 Pasadena Fixer Home For Sale

Pasadena real estate for sale | Pasadena homes for sale | Pasadena Realtor | Pasadena condos for sale

FHA financing seems to be a neglected talking point on the national media stage, says Fred Doleac, Broker/Owner of RE/MAX Country Properties in Amherst, N.H.

Doleac wonders why more industry leaders and real estate agents aren’t taking the opportunity to explain the attainability of FHA loans. The loans, which require only a 3.5 percent downpayment and a decent (but not necessarily excellent) credit score, are ideal for qualified, first-time homebuyers who have low or manageable debt-to-income ratios but may not have tons of cash for a conventional-loan down payment.

“All you hear in the news are naysayers telling consumers they won’t be approved for a mortgage unless they put 20 percent down and have perfect credit,” Doleac says. “But that’s simply not true. Unfortunately, the popular perception is that money isn’t available and you can’t get it right now if you don’t meet these astronomical requirements. That’s why so many people aren’t budging right now.”

That’s where you, the real estate expert, come in, Doleac says. Real estate agents need to talk about FHA financing every chance they get with prospects, other colleagues and in the local media. Doleac recently appeared on American Public Radio’s Marketplace Money program to spread the word, and is frequently featured as a real estate news source in a local paper. His efforts have paid off.

“The buying side is where you’ll make your money in the next three years,” Doleac says. “First-time buyers are out there, and when they start buying, more move-up buyers can get to their next home. The problem is, though, that most agents don’t have sufficient lead generation to find these buyers.”

Doleac shares these tips for agents interested in spreading the word about FHA financing:

1. First, educate yourself. Meet with a lender who has a delegated FHA underwriter (not a mortgage broker; a full-service lender). Ask the lender to give you a working knowledge of FHA loans, highlighting the key points you’ll need to present to buyers.

2. After getting the facts, include the message in your marketing. Send out blast e-mails, post it on your Web site, put it in flyers or mention it during pop bys. Position FHA financing as a benefit for everyone you come in contact with. Make it part of your everyday real estate dialogue. You have to talk about it.

3. Key talking points for FHA loans:

• The borrower must meet standard FHA credit qualifications (there’s no set credit score barometer, but a borrower’s debt-to-income ratio is heavily considered).
  
• The borrower is able to finance the upfront mortgage insurance premium into the loan. The borrower will be responsible for paying an annual premium.
  
• The FHA mortgage requires a low 3.5-percent down payment, and that money can come from a variety of sources, including parent gifts and HUD downpayment assistance grants.
  
• Closing costs are also low - typically 3 percent of the total purchase price - and are usually covered by the seller in today’s market. They can also be incorporated into monthly payments.
  
• Eligible properties are one-to-four unit structures, and each state has a purchase price limit (as high as $400,000) for FHA loans.
  
• If a buyer finds a fixer-upper, the FHA 203(k) program can help the person purchase or refinance the property, with the cost of repairs and improvements included in the loan.
  
• FHA home mortgages aren’t just for first-time homebuyers. FHA refinance loans can help people get out of toxic debt situations caused by subprime mortgages with high interest rates.

4. Have trouble finding those buyer leads? Ask the human resource departments of local companies if you can host a free, brown-bag lunch seminar for first-time homebuyers (in addition to investors and retirees to cover all employee demographics). Focus on FHA financing, but don’t forget to mention the $8,000 tax credit and low interest rates too.

5. Once you find first-time buyer clients, sit them down with a lender who specializes in FHA loans to get them pre-approved for FHA financing. They may qualify for a smaller property, like a condo or townhome. Make sure the property (be it a house or a condo located in a covenant-protected community) is FHA friendly; some properties are not eligible for purchase with an FHA loan.

6. Disclose everything and make sure to establish trust and credibility as your buyers go through the FHA financing process. Explain all their options and be realistic with them if their expectations aren’t in line with what they qualify for.

Comment on this story
E-mail your comments to editor@remax.net. Please include your full name, RE/MAX office, city and state or province. Comments, slightly edited for length, flow and punctuation, will appear below.

Comments (1)
Why would you not want to talk to a mortgage broker? I am a mortgage broker who owns two RE/MAX franchises. I have been doing FHA loans for 15 years. I think I have a little bit of knowledge about the product.

1. A mortgage broker who is HUD-approved is treated like a lender and their sponsors have FHA underwriters on staff.

2. What makes you think brokers are not full service? I can’t begin to tell you how many deals I saved that loan officers at banks screwed up.

3. Underwriters do not take loan applications. They do not structure the loan. The loan officers do (with my company or with a bank). Underwriters ensure they have the documentation to sell the loan to an investor.

4. I deal on the wholesale side with FHA lenders and get better rates than the retail side. Yes, banks are paid a yield spread; it is just built into the rate. Plus, they do not have to disclose it on the HUD, so you never know how much spread the bank is making. You do with brokers, as it is disclosed on the GFE and the HUD.

5. I am not saying banks or their affiliates do not do a good job.( Every few years they try to take over the real estate broker business.)

I agree that FHA is a great product. However, it is the people you deal with who will provide the service, be it a broker or a bank. Most RE/MAX agents know this. However, get all the facts about FHA-approved brokers. Remember, Mr. Doleac, if it were not for our brand, your sign would be reading Fred’s Real Estate Co.
- Kim Schieldknecht, RE/MAX Elite and The Clermont Financial Group, Cincinnati, Ohio

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