Solutions for Staying Safe With Social Media for Realtors & Other Professionals

Problem: Savvy real estate professionals like yourself frequently update your presence on Facebook, Twitter, and LinkedIn. However, because of the nature of your work, you are likely to have “friends,” followers, and connections whom you don’t know.

Solution: Following these basic steps can help you avoid exposing yourself or your data to risk through social media tools. It is vital to consider what you are sharing through the Internet!

Keep Business Separate

One way that you can make sure you are not revealing too much personal information is simple: set up a business account on each platform. Sure, anyone can figure out that Sally Field, REALTOR®, is the same person as Sally Field—but Sally will only accept requests to connect to strangers on the business account, whether Facebook or Twitter. Her personal account stays private (especially once she familiarizes herself with privacy settings), protecting her family photos, links to her kids’ pages, and personal posts from people she doesn’t know.

Tag... You’re It!

When a friend posts your photo, you may be “tagged” against your will. If you don’t want clients or others to find a reference like this—such as a less-than-flattering photo taken at a late night party—you can remove the tag and/or ask the person who posted it to do so. And be sure to follow up and ask friends to check first before tagging.

Don’t Give Away Passwords

Consider this: One way that hackers manage to crack personal passwords is by searching Facebook for easy answers. They know they may find answers to common security questions such as “What high school did you attend?” and “What are the names of your children?” So keep information about family members, household details, and past events to a minimum in order to help prevent this.

Guard Against Identity Theft

These days, anyone can find all kinds of personal information about anyone else. That doesn’t mean you have to make it easy! For example, if you who want to post your birthday, don’t include the year. (And delete any public comments that indicate their exact age.)

Tweets Are Forever

Social media usage has an impact on your safety, as well as your reputation. Carefully consider each item you share, and be aware that old posts, even if they’ve been deleted, may be copied or saved—and the Library of Congress is actually recording every single Tweet.

As a savvy real estate professional, you can maximize the business-building potential of social media while minimizing the unique risks it poses. Just follow these basic steps to help safeguard yourself, your data, and your reputation.

To learn about more safety strategies, and access free safety resources, including safety expert Andrew Wooten’s webinar Social Media and Cyber Safety, visitwww.REALTOR.org/Safety.

(Sources: Andrew Wooten’s REALTOR® Safety webinarSocial Media and Cyber Safety; www.ftc.gov/infosecurity)

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New Home Sales Soar by 18%

Sales of new U.S. single-family homes surged in August and hit their highest level in more than six years, offering confirmation that the housing recovery remains on course. The Commerce Department said on Wednesday sales jumped 18.0 percent to a seasonally adjusted annual rate of 504,000 units. That was the highest level since May 2008 and marked the second straight month of gains. While the new home sales segment accounts for only 9.1 percent of the housing market, the increase last month should allay fears of renewed housing weakness after a surprise decline in home resales last month. A survey last week showed homebuilder sentiment hit its highest level in nearly nine years in September, with builders reporting a sharp pick-up in buyer traffic. In August, new home sales soared 50 percent in the West to their highest level since January 2008. Sales in the populous South increased 7.8 percent to their highest level in 10 months. In the Northeast, sales rose 29.2 percent, but were flat in the Midwest. Dave Budzinski  Phone: 314-647-4747

List FREE on the MLS

Investors and Rehabbers list FREE in the MLS. 

We offer free mls listings to all investors or rehabbers - when you buy your home through us, we turn around and put your home on the MLS and over 30 other websites at no charge.

You are still able to sell your house for sale by owner if there is no other agent involved. If the bu yer has an agent - you pick the commission you want to pay.

We will help you from list to close, providing you with all the paperwork you need. We even draw up contracts for the buyer

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Call or email today
314-503-1186

Laura
Lauralei Properties, llc

Types of Loans

Thirty-Year Fixed Rate Mortgage The traditional 30-year fixed-rate mortgage has a constant interest rate and monthly payments that never change. This may be a good choice if you plan to stay in your home for seven years or longer. If you plan to move within seven years, then adjustable-rate loans are usually cheaper. As a rule of thumb, it may be harder to qualify for fixed-rate loans than for adjustable rate loans. When interest rates are low, fixed-rate loans are generally not that much more expensive than adjustable-rate mortgages and may be a better deal in the long run, because you can lock in the rate for the life of your loan. Fifteen-Year Fixed Rate Mortgage This loan is fully amortized over a 15-year period and features constant monthly payments. It offers all the advantages of the 30-year loan, plus a lower interest rate—and you'll own your home twice as fast. The disadvantage is that, with a 15-year loan, you commit to a higher monthly payment. Many borrowers opt for a 30-year fixed-rate loan and voluntarily make larger payments that will pay off their loan in 15 years. This approach is often safer than committing to a higher monthly payment, since the difference in interest rates isn't that great. Hybrid ARM (3/1 ARM, 5/1 ARM, 7/1 ARM) These increasingly popular ARMS—also called 3/1, 5/1 or 7/1—can offer the best of both worlds: lower interest rates (like ARMs) and a fixed payment for a longer period of time than most adjustable rate loans. For example, a "5/1 loan" has a fixed monthly payment and interest for the first five years and then turns into a traditional adjustable-rate loan, based on then-current rates for the remaining 25 years. It's a good choice for people who expect to move (or refinance) before or shortly after the adjustment occurs. Adjustable Rate Mortgages (ARM) When it comes to ARMs there's a basic rule to remember...the longer you ask the lender to charge you a specific rate, the more expensive the loan. 2/1 Buy Down Mortgage The 2/1 Buy-Down Mortgage allows the borrower to qualify at below market rates so they can borrow more. The initial starting interest rate increases by 1% at the end of the first year and adjusts again by another 1% at the end of the second year. It then remains at a fixed interest rate for the remainder of the loan term. Borrowers often refinance at the end of the second year to obtain the best long-term rates. However, keeping the loan in place even for three full years or more will keep their average interest rate in line with the original market conditions. Annual ARM This loan has a rate that is recalculated once a year. Monthly ARM With this loan, the interest rate is recalculated every month. Compared to other options, the rate is usually lower on this ARM because the lender is only committing to a rate for a month at a time, so his vulnerability is significantly reduced.

David Sharp

123 Mortgage Team

7512 Big Bend Blvd

St. Louis, Mo 63119

314-260-4360

NMLS# 280482

Top 5 places to visit in St. Louis

Are you planning a trip to St. Louis and are craving some great attractions to explore? Well look no further. I have rounded up the top 5 attractions to check out when you get there.

Gateway Arch – Take a ride on this world famous 630 foot stainless steel monument to the top for a bird’s eye view of the Gateway city.

Saint Louis Zoo - One of the city’s free attractions, the Saint Louis Zoo has been recognized as one of the nation’s leading zoological parks. So stop on by and get up close and personal with the furry, the large, and the exotic animals of Saint Louis Zoo.

Citygarden- the Citygarden is an urban oasis featuring modern and contemporary works of art, native plants, and six rain gardens all overlooking the gorgeous scene.

City Museum - Visitors can interact with over 10,000 sea creatures in the World Aquarium. The museum offers a playground for all-ages filled with caves, slides, and climbing apparatus all made out of recycled objects.

Fabulous Fox Theater - Enjoy a night out with the magic of live theater where you can catch a play, concert, or a dance ensemble.

These are just my top 5 places to visit when you get here, there is so much more that I didn’t even get to mention because if I did we would be here for hours. I guarantee once you’re here and find out how much our city has to offer you just might not want to leave.

Common Documents Required For A Mortgage Pre-Approval for Home Buyers

Even though many lenders are still quoting quick 10 minute pre-qualifications over the phone or online, a true mortgage approval that holds any weight is one that has been issued by an underwriter who has had an opportunity to review all of the necessary documents.

With a constant stream of new lending guidelines, volatile mortgage rates and tightening regulation from Washington, very few real estate agents will show new homes to a First-Time Home Buyer without at least a pre-qualification letter.

A Pre-Approval Letter will help you in three ways:

• It lets you know how much mortgage you can qualify for
• It gives you an estimate of what your total housing payment would be
• Submitting a strong “Pre-Approval” letter with a purchase offer will give the seller more confidence about your ability to complete your end of the agreement

It’s obviously a good idea to get your paperwork prepared ahead of time so that the pre-approval process is as thorough as possible.

In order to get a pre-approval letter, you’ll start by filling out a loan application and submitting a few documents for the loan officer and / or underwriter to review.

Common Loan Pre-Approval Documents:

Income / Assets for Wage Earner:

• Last 2 year W2s and Tax Returns
• 2 most recent Pay Stubs
• 2 most recent Bank Statements, 401(K), Liquid Assets, Investment Accounts

Income / Assets for Self-Employed:

• Last 2 year Tax Returns – Business and Personal
• Last Quarter P&L Statement

Letter of Explanation For:

• Employment Gap or New Line of Work
• Late Payments / Judgments / Bankruptcy on Credit Report

Other:

• Bankruptcy Discharge
• Child Support Documentation
• Lease Agreements (If own other Rental Properties)
• Mortgage Payment Coupons (If own other Real Estate)

…..

Most borrowers also want an opportunity to learn more about the loan officer before digging up all of these personal documents. Spend 15 minutes on the phone asking the loan officer to explain how mortgage rates work, quizzing them on some basic industry vocab or just to see if they know what to prepare your agent for ahead of time. The Q&A session can be more than just a lender qualifying you, as long as you’re prepared to ask the right questions.

Either way, you’ll definitely want to have the above list of approval documents ready once you’ve decided on the right loan officer that you trust will meet your expectations.

David Sharp

NMLS#280482

123 Mortgage Team

314-260-4360

A New Group of First Time Homebuyers is on the Horizon

The American dream is still alive as Teens overwhelmingly think that they will own their home.

A new survey found that American teens overwhelmingly think that they will be home owners—a far cry from millennials who were much less sanguine about their fortunes in an earlier study.

The study, conducted for real estate service Better Homes and Gardens Real Estate, found that 97 percent of those ages 13-17 believe they will own a home in the future. Compared with the 40 percent of millennials who said in an earlier Better Homes study that they expected to buy a home in the near term, these new figures prove that the younger generation may be more attached to the notion of home ownership.

This means that the next generation to reach adulthood will bring about 21 million hopeful home buyers to the market. For reference, just over 5 million existing homes were sold in 2013, according to the National Association of Realtors.

Lest anyone suggest that the survey's respondents are unaware of what it takes to be a homeowner, the study also found that the average teen has an impressively accurate understanding of the price of a home: Of the 97 percent who said they would own a home, they estimate paying on average $274,323 for their first one. The median cost of a new home in June was $273,500, according to the U.S. Census Bureau.

Not only are teens significantly optimistic about their home buying, but 82 percent also said home ownership is the most important part of the American Dream, according to the survey. Way to go teens!

provided by: Dave Budzinski 

NMLS#: 
Phone: 314-647-4747

How to Prepare Your Home for winter

As autumn approaches we begin to see the leaves change, feel the air cool, and think about the winter weather. As a homeowner you want to take every precaution to protect your home during those winter months, or fear damage caused by a dreadful winter storm. So what do you need to do to winterize your home.

Check your Furnace – Stock up on Furnace filters, Call your Furnace repair man (also known as HVAC professional) to inspect your furnace is running at top performance, and to clean the heating ducts. If you have a digital thermostat make sure to replace the batteries with brand new ones, and clean the area around your furnace to ensure there is nothing flammable near it.

Check all exterior Windows and Doors – You should inspect your windows to make sure there are no cracks in or around the frame, if so you can use caulking to seal up your windows cracks. Place weather stripping around all doors leading to outside to help prevent cold air from entering your home. And don’t forget to switch out window screens for glass screens for the winter months.

Inspect your roof and gutters – Clean out the gutters using a garden hose to wash away all debris such as leafs, and small tree limbs. Also replace worn out roof shingles or tiles with new ones.
By taking the time to implement these simple steps and a few others you are ensuring your home is ready for winter.

Tips for Home buyers

Buying a home can be exhilarating and terrifying all at the same time, especially for first time home buyers. So to help relieve the anxiety and ease you into the home buying process, we have provided a few important tips to help you on your way to owning your dream home.

Know Your Credit - Your credit score can be the most important element that comes into play when you decide to become a homebuyer. The number in your credit score will influence a lender on whether or not you will qualify for a loan. So pay attention to that number and any debts being owed on your credit report. Make an effort to pay off any outstanding balances, also once the balances are paid in full, make sure the company you owned a debt too, updates it to the credit report companies.

Down Payment - A down payment on a new home can be a huge chunk of money, especially to a first time home buyer. So you should prepare for the down payment ahead of time, tucking away any extra money you can every pay. Also as a first time home buyer check into any programs your state provides to help out first time home buyers with down payment assistance. Finally contact a mortgage lender to see what advice they can give you or where they can turn you too for help.

Keep Documents Organized - Keep any and all documents which authenticate your income and taxes. Mortgage lenders typically request the previous 2 years W2’s, and tax returns, your two most recent paystubs, and the last two months bank statements. So by keeping organized and everything handy this will help save you time when a lender request them.

Buying a home can be scary and time consuming but the end reward out surpasses any fear you may have. Just remember these tips before getting started to ensure you have a smooth sailing experience.

Real Estate Trends

Real Estate Trends are defined by consistent patterns or change in the most general direction of the real estate industry. This observable fact can be a result of a change in mortgage rates, the economy, and other non-fundamental and fundamental reasons.

 A distinguished real estate agent knows the market, knows what new developments are planned, they know the transportation and the schools, and they know locations and history. With the ever evolving change in real estate, realtors are constantly doing their homework to stay ahead of their competition in the game.

3 Important trends a skilled realtor looks for are.

Local Pricing
Studying the local price trends in the area, should be first and foremost. Knowing the prices of homes in one area or another, is vital when working with buyers budgets.

Catalyst
Investing in a growing community can be very profitable, looking for signs that a community is set for growth, signs such as new roads, and new schools being built, and beginnings of construction in and around major roads all are major tips. A growing community most times is extremely attractive to new homebuyers.

School Rankings
Sharp eyed realtors keep up to date of the ranking of the schools in and around their area. Areas with high rankings, and schools moving up the rankings are all desirable to parents looking to buy homes near school districts.

These are just some of the trends realtors in Saint Louis, Missouri, and other areas keep up to date with. A great realtor is always researching, and collecting data to provide the buyer with unsurpassed knowledge of the real estate market.

Pre-Approval letter tips

Getting a mortgage qualification letter prior to looking for a new home with an agent is an essential first step in the home buying process.

Besides providing the home buyer with an idea of their monthly payments, down payment requirements and loan program terms to budget for, a Pre-Approval Letter gives the seller and agents involved a better sense of security and confidence that the purchase contract will be able to close on time.

There is a big difference between a Pre-Approval Letter and a Mortgage Approval Conditions List.

The Pre-Approval Letter is generally issued by a loan officer after credit has been pulled, income and assets questions have been addressed and some of the other initial borrower documents have been previewed. The Pre-Approval Letter is basically a loan officer’s written communication that the borrower fits within a particular loan program’s guidelines.

The Mortgage Approval Conditions List is a bit more detailed, especially since it is usually issued by the underwriter after an entire loan package has been submitted.

Even though questions about gaps in employment, discrepancies on tax returns, bank statement red flags, and other qualifying related details should be addressed before a loan officer issues a Pre-Approval Letter, the final Mortgage Approval Conditions List is where all of those conditions will pop up. In addition to borrower related conditions, there are inspection clarifications, purchase contract updates and appraised value debates that may show up on this list. This will also list prior to doc and funding conditions so that all parties involved can have an idea of the timeline of when things are due.

David Sharp
NMLS # 280482

123 Mortgage Team

7514 Big Bend Blvd

St. Louis, Mo 63119

314-260-4360

My Web Page

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Past Clients Testimonial Page on Zillow

FLAT FEE MLS - WHY IT WORKS!

What is Flat Fee MLS do you ask?

 Well it is like an à la carte item on the menu for real estate agents or brokers, these agents provide you with the benefit you receive with hiring an agent without the in-depth contract. You receive maximum exposure without being subject to open houses, tours of your home to potential buyers day and night, unless you choose to and you are still in complete control.

Flat fee MLS is a great choice for FSBO (For Sale by Owner) who want the exposure that a real estate agent can provide without the exclusive right to sell contract that comes along with it.

90% of houses on the market today that sell, have been listed under MLS. As a FSBO it is crucial to have exposure in order to sell your home, when you have a MLS house listed, you have the ease of mind that your listing will be displayed at the top of thousands of FSBO homes making it visible to more potential buyers, also you are still in complete control of negotiating the sales price, and when you let potential buyers tour your home.

80% of homebuyers go through a realtor, so as a FSBO using the flat fee MLS you are providing an advantage over non MLS listing, due to the fact that realtors and their buyers use MLS to search for houses throughout the extensive database, making it easier to find your home for the right buyer.

When you list on the MLS your home is also syndicated out to tons of other websites like
Realtor.com, Zillow, Trulia, Yahoo Real Estate - just to name a few.

With the flat fee MLS listing you save money.  Use these extra proceeds to lower the price of the home and get more hits to your listing - or simply keep more of your hard earned profit in your pocket!

Get your home listed today!  www.lauralei.net

Turned down for refinancing?

Pending Home Sales Much Stronger than Expected

The National Association of Realtors (NAR) reported that July Pending Home Sales increased by 3.3%, the consensus estimates were projecting a much smaller gain of only 0.6%. Pending Home Sales are homes that have a sales contract in place and are in the process of closing but have not yet closed.

They have now risen four out of the last five months.

Lawrence Yun, NAR chief economist, says favorable housing conditions are behind July’s higher contract activity. “Interest rates are lower than they were a year ago, price growth continues to moderate and total housing inventory is at its highest level since August 2012,” he said.

“The increase in the number of new and existing homes for sale is creating less competition and is giving prospective buyers more time to review their options before submitting an offer.” Yun adds, “More importantly, steady job additions to the economy are helping family finances and giving them added confidence to enter the market.”

The two biggest head winds for the housing market have been job growth and inventories. Inventories were at historic lows for much of last year, so an increase of available homes on the market have helped sales to improve.

*All information furnished has been forwarded to us and is provided by thetbwsgroup only for informational purposes.