Team Maxwell's Blog

What does a short sale do to my credit?

Doing a short sale is most often less damaging to your credit report than a foreclosure, however contrary to rumors, that doesn't mean you're safe from damage. Although short sale credit "dings" cannot be avoided, they can be controlled much more easily than a foreclosure. What a short sale does to your credit depends on several factors, such as the amount you owe and how far behind you were when the short sale closed. Below is a quick look at how short sale credit effects happen and what you can expect after closing day.

Effects of Delinquency (late or behind mortgage payments)

Most borrowers have missed at least two months' worth of mortgage payments before initiating the short sale. This is a requirement for most banks, including the HAFA short sale program. This accounts for a significant part of the short sale credit impact. By the time a short sale application is submitted, there may already have been some short sale credit damage. One thing you can do is try to negotiate a short sale while you're still current-with sufficient proof of hardship, your bank may approve your request.

Deficiency Amount

The difference between your home's selling price and your mortgage balance, known as the deficiency, is probably the biggest factor in short sale credit effects. Lenders will try to earn as much as possible from the sale to make up for their losses or to minimize them. The bank will usually do their own price appraisal or BPO (Brokers Price Opinion) and try to sell it for as much as possible. The less the lender has to forgive from your balance, the lower the short sale credit impact will be.

Reporting Differences

There aren't many rules on how a short sale should be reported, so depending on the lender the wording can vary from bank to bank. What appears on your credit report can either be a "pre-foreclosure in redemption," "paid as agreed," or even a straight foreclosure. This depends both on your mortgage situation and your lender's policies. If you have a good agent, he or she may be able to discuss reporting with your lender and have it worded so that the damage won't be as high.

If you or someone you know is in danger of foreclosure and would like free information about a possible short sale, call us today at 702-325-7755.

Yes, the government wants to help you after all . . . it's about time!

If you are approved for the new government HAFA (Home Affordable Foreclosure Alternatives) program, you will be given thousands of dollars to sell your house and walk out free and clear of a foreclosure.

HAMP/HAFA

• Making Home Affordable http://www.makinghomeaffordable.gov/
• Home Affordable Admin Site for Servicers https://www.hmpadmin.com/portal/index.html

From Realtor.org:

• http://www.realtor.org/government_affairs/short_sales_hafa

Contact real estate agent Jamie Maxwell at 702-446-7812 or email lasvegasrealestate@702Listings.com. We are here to answer your questions or concerns. There is no obligations. Just free information from an expert team here to assist hard working people like you and your family.

Many times the bank will only deal with an authorized third party (your real estate agent) to agree to a short sale. They want to work with experienced professionals who know the correct procedures and jargon, can we blame them? If you have been turned down for a short sale in the past contact us. Many, many, many times a second attempt made by an experienced licensed agent, with the correct documentation and procedures, the short sale will be accepted!

Choosing an effective carpet cleaner is easier said
than done.  There are many carpet cleaning companies
out there, each one claiming to be the best.  With
each one claiming to be the best, it can be very
hard deciding which one is the best for you.  If
follow the tips below, you'll have no problems finding
your ideal carpet cleaner.

First of all, you should know what your choices are
in cleaning methods and you should also know which
one is the one you'll want to choose, as there are
several available to choose from.  A dry extraction
type of cleaning will use a compound that contains
detergents what will free stains and dirt which will
then allow them to be vacuumed up.

Dry foam on the other hand may be used by applying
foam to the carpet and then vacuuming it up with a
wet vacuum.  You can also choose a vacuum that uses
stronger chemicals and a stronger suction to get
dirt up.  For your needs, you should choose the
vacuum accordingly.

Once you know your options, talk to family and
friends for their recommendations.  There are several
places on the internet that offer reviews for
local as well as nationwide carpet cleaners.

You can also get estimates as well.  Find out
what the professionals charge and what is considered
to be extra.  You should also find out what
chemicals are going to be used, how long the
process will take, and whether or not they plan to
move any furniture.

You'll want to make sure that chemicals used are
going to be safe for you, your children, and
also your pets. If you are using a professional
company, you'll want to let them know what type of
carpet you have.  If you don't let them know and
you have a type of carpet that will shrink or
change color during cleaning, you'll probably be
in trouble.

Probably the most important thing, is to know who
is coming to your home.  You should always make
sure that you know the history of the carpet
cleaner as well as inquire if background checks
are performed by the company.  These steps will
help to keep you and those you love safe.

Follow the above tips, and you'll have no problems
with finding the right carpet cleaner.  There are
many types to choose from, as well as professional
cleaning companies. 

If you are considering whether or not to use a
professional carpet cleaner, you should consider
the alternatives as well.  First, spot removal
isn't the only necessary carpet cleaning that you
need to do, nor is the vacuuming.

Even home carpet cleaning machines won't do as
good of a job as a pro can do.  When you use these
types of carpet cleaners, you can help to preserve
your carpeting for years and years to come. 

Last, professional cleaning can help many people
who have allergies to feel better once they have
clean carpet.  If you have allergies, a professional
cleaning may be the ideal way to solve just about
all of your carpet problems.

In a nutshell, it makes the most sense to have your
carpet professionally cleaned.  It doesn't really
cost a lot of money, yet it will give you the
peace of mind in knowing that your carpet is very
clean.

If you've been looking to clean your carpet or
have it cleaned, professional is without a doubt
the way to go.  You don't have to bother with it
yourself, yet you'll know that your carpet is going
to be cleaned right - by someone who knows exactly
what they are doing.

REALTY360 - Full Service Real Estate Brokerage
6370 W. Flamingo Road Suite 27
Las Vegas, NV 89103
Phone # (702) 446-7812
Email: LasVegasRealEstate@702Listings.com  
www.702Listings.com

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Surveillance systems are becoming more and more common in homes.  Video surveillance security systems are also known as Closed Circuit TV (CCTV) and are used to monitor certain areas around the home and help to protect it from burglars and thieves.

The monitor is a key aspect to the video surveillance setup.  The monitor will feed the video from the cameras that make up the system.  The monitors are normally black and white and feature a higher resolution than that of a standard television set.  Monitors vary in size and resolution, although the standard resolution is between 500 and 1000 lines.

Cameras are also important.  When setting up the home video surveillance system, the cameras are placed strategically around the outside of the home, in the most vulnerable areas.  They should be set up in areas where they are nearly impossible to see.  The cameras are always working, sending the video transmissions to the monitors on a frequent basis.

Coaxial cables are also a must have for video surveillance systems.  The coaxial cables are what transfers the video signals from the camera to the monitor.  The cables are available in a variety of sizes.  You can find them at a local electronics store in your area. Your home video surveillance system will come with coaxial cables, although you may need more depending on where you plan to set the cameras up at.

Home video surveillance systems also use switchers.  Switchers allow you to run multiple camera feeds to one monitor.  Normally, a switcher will cycle through feeds unless it detects movement going on around a camera.  When the switcher detects any type of movement, it will automatically lock in to the camera that has detected the movement.

There are some video surveillance systems that you can get for the home that make full use of VCRs.  These systems will use the VCR to record any live video feed that you program.  This can come in handy if you travel a lot, as the VCR can capture a break in as it happens.  If you end up going to court or to the police, you can use the video tape as evidence.  VCRs can catch burglars in the act – especially if you set the camera up to a location that is hard to see.

By utilizing the combination of a monitor and video camera, home video surveillance systems can easily catch burglaries and break-ins.  They are very affordable these days, and used in thousands of homes throughout North America.  If you’ve been looking for the ideal way to protect your home – a home video surveillance system is something you should look into immediately.


Search for Las Vegas Homes at http://lasvegasrealestate411.las.mlxchange.com/

Jamie Maxwell -REALTOR- 
Realty360 - Las Vegas
Phone: 702-446-7812
Email: LasVegasRealEstate@702Listings.com
Website: Las Vegas Real Estate

1) Boxes are a staple for moving because they are usually quite regular sized, easy to carry and if taped together correctly, rarely fall apart. Regular sizes are important for maximizing your van space and ensuring you're not wasting areas in your transport that could otherwise be filled. On the flip side, bags can be compressed anywhere! It is possible however for bags to be mistaken for rubbish.
 
2) Bags are good for items like clothing, and bedding, and when you've ran out of boxes to pack anything. Teddies and soft toys work well in bags - edged objects, or items that are likely to be too heavy to carry in a plastic bag would probably work better in boxes. Bags also work well with linens.

3) Whilst packing, it’s important to maximize space - and pack your biggest objects first, and fill space around them. Books are easiest to pack, odd shaped, awkward items such as ornaments and other items are the worst to pack, and both types should go in boxes, as should dishes and other objects that are considered fragile.
 
4) Mark all boxes and bags (if you can) carefully - it makes them easier to find things in, and to sort into rooms without having to break them open. This will all help in your new house. Always remember to mark bags you're using for belongings clearly so that they don't get mistaken for rubbish - or buy completely different bags for your rubbish and your belongings.

5) While it may only take you a couple of weeks to pack, it can take eight weeks - or MORE to unpack at the other end - so though you're 'just boxing items up for a couple of days' remember that you may not find it for up to two months, or perhaps more.


Search for Las Vegas Homes at http://lasvegasrealestate411.las.mlxchange.com/

Jamie Maxwell -REALTOR- 
Realty360 - Las Vegas
Phone: 702-446-7812
Email: LasVegasRealEstate@702Listings.com
Website: Las Vegas Real Estate

Like any other profession, there are good and bad things about what are available.  Each of the things that happen in the profession is just part of the business.  If you want to know what you are getting into, you will want to make sure that you know all sides of the coin of the profession.  This will help you to be prepared for looking into property or buying into the occupation of real estate. 

The good part of real estate is that you will be helping others to find a home.  Anyone involved in real estate will say that the largest perk of being in the profession is that you are able to help people with their living situation.  Another good benefit of being a real estate agent is that the finances are usually stable and do not come in small doses.  For those that love their jobs in real estate, they will most likely base it on these two factors.

Despite the benefits of being a real estate agent, there are also some tough parts of being involved.  One of the major frustrations is that the properties that are available will be dependent on the type of market, the neighborhood and the sales of that area.  At times, there may be an overflow of properties available, while at others, everyone will be holding onto their property.  For those involved in finding or buying real estate, this can cause for a challenge in finding what you want and when you want it. 

Of course, for anyone becoming involved in real estate, other frustrations may come from the terms and the details that are used in the process as well as the process itself.  It is not uncommon to find a home, have it inspected and then not have the ability to buy the home because of the condition of the home.  There also may also be financial problems with real estate during the process of finding a home for an individual.  All of these factor in to spending a lot of time looking at homes without the benefit of buying. 

Whether you are buying or selling, it will be important to know what to expect from real estate.  By factoring in the different parts of property, you will have the ability to decide what is best for you and can stay ready for the potential problems that may occur while you are going through the process.  Knowing what to expect will help you to get past half of the battle of the real estate market. 

Search for Las Vegas Homes at http://lasvegasrealestate411.las.mlxchange.com/

Jamie Maxwell -REALTOR- 
Realty360 - Las Vegas
Phone: 702-446-7812
Email: LasVegasRealEstate@702Listings.com
Website: Las Vegas Real Estate

Selling your own home is never easy, and the difficulties ran more than just missing an agent. There are those memories and sense of belongings to get over, for one. You want to make sure the house you’ve lived in moves to the best buyer possible – and you want to make sure they’re willing to pay what it’s worth.  Do you really think you can do this? A lot of people managed to sell their own home quickly. Here are some tips that might help:

· Make sure you have every legal issues covered before you even think about handing your house over. Does your state law require you to give property disclosures to potential buyers? It’s always a good idea to invest in a good attorney to help you.
· An attorney also come in handy for helping you make the contract form. Selling your own home requires a contract that would both protect you and the buyer – think about the buyer deposit and the local estate laws.
· A useful but normally disregarded tip in selling your own home is make sure you pick out the best picture to put in the advertisements. Like humans, not all houses are “photogenic”, so pick out the best angle that still represents what your house has to offer.
· Something the agents have and you don’t is experience, especially in observing buyers. The large amount of potential buyers coming to your house should not convince you that everyone can finance for a house. If you’re selling a house on your own, more buyers will come in hope of a more flexible negotiation – check them all. Ask if they’re able to buy your house immediately, or do they need to sell their own house first.
· Cleaning and preparing your house for home showings is only a part of your effort. Some potential buyers love to do drive-bys, and rely on that first impression. Make sure your lawn and the front part of your house is well maintained. If your curb appeal is low, clients are reluctant to see what’s inside.
These tips on selling your own home came from people who managed to sell their house successfully.  There’s a lot to consider before you take every next step, so take your time. And remember, it’s useless to do the selling on your own if the revenue taken from not hiring an agent is spent heavily on fixing your own mistakes!

Search for Las Vegas Homes at http://lasvegasrealestate411.las.mlxchange.com/

Jamie Maxwell -REALTOR- 
Realty360 - Las Vegas
Phone: 702-325-7755
Email: LasVegasRealEstate@702Listings.com
Website: Las Vegas Real Estate