Are You Really Getting The Same Level Of Real Estate Service In Houma, LA?
Enough is enough! There is a trend that I am seeing today that concerns me. The trend? Let’s just call it “Bargaining for Business.” And it’s happening more and more as people worry about home sales.
What is “Bargaining for Business?” It’s where home-owners call as many real estate companies as possible to negotiate a listing fee.
So what’s wrong with this picture? After all, we’re in a market driven profession. So what’s wrong with bargaining with companies for a lower fee?
Here is what most home owners don’t consider. First, they just look at the fee and think, “If I can just get them down on their commission, that’s more money in my pocket.”
Now, that’s a true statement. But at what cost to both the Broker and the homeowner.
Let’s look at a few facts. First, today’s regional housing market is not on fire as in years past. Continue reading
Bankruptcy to Prevent Foreclosure
By Guest Author: Lisa M Joness
Is there a connection between foreclosure and bankruptcy? The short answer is yes as filing for bankruptcy protection may forestall foreclosure claims. However, filing for bankruptcy is not a “cure all” for foreclosure related problems and issues. In order to understand how the process works, it is best to define what foreclosure is and how filing for bankruptcy can effectively diminish the effect foreclosure can have on your personal and financial well being.
Since most are unable to pay for a home in cash, a loan is procured to purchase the home. This loan is known as a mortgage. The mortgage comes with a term (Years in which the loan is to be paid off) and a particular interest rate. The person that takes out a mortgage from a lender is then allowed to live in the home although, technically, he or she does not outright own the home free and clear. The lender will hold the title on the home until it is completely paid off. Once the mortgage is paid off, then the home’s sole ownership reverts to the person that has took out the mortgage and paid it off.
This is a relatively simple process but there will come times when bumps in the road occur. Namely, if someone is unable to make all monthly mortgage payments, the mortgage can fall into arrears. Once several months of mortgage payments are missed, the home might go into foreclosure. That means the lender will seek to repossess the home in order to sell it to procure the remaining money owed on the mortgage. Sadly, many would prefer they could pay their obligations but they are unable to because of financial problems.
For those who are in a dire financial situation, the only way to circumvent problems associated with bankruptcy would be to file for bankruptcy. This way, the courts can either liquidate debts, restructure debt, or perform a combination of both.
Anyone wishing to avoid foreclosure via bankruptcy should discuss options regarding filing Chapter 13 with a qualified attorney. The reason Chapter 13 may prove appealing is when you file for such a chapter of bankruptcy protection, the court may issue an immediate stay on the collection of the debt. This can mean that the court may order the cessation of all foreclosure proceedings on a temporary basis. The purpose of this would be to allow time to devise a clear and legitimate restructuring plan intended to get the indebted person back on the right fiscal track.
Please note: this does not mean that foreclosure may be permanently stayed or that a portion of the mortgage will be automatically discharged. Bankruptcy is not a means of eliminating a mortgage. Rather, it is a means of seeking the most appropriate remedy for your debts under the supervision and guidance of the courts.
Having to deal with the issue of foreclosure is not something most would ever wish to do. Yet, foreclosure is exactly where they find themselves when financial hardships become too much to bear. For those that would prefer to avoid such problems, it would be best to seek the counsel of a qualified bankruptcy attorney to discuss viable options.
The author started FilingBankruptcyNow.Com which is a website that helps individuals with debt problems by putting them in touch with a local bankruptcy attorney that specializes in bankruptcy under Chapter 7 and Chapter 13 bankruptcy. Check our website for more answers to bankruptcy questions and ideas on how to have a debt free future.
Article Source: http://EzineArticles.com/?expert=Lisa_M_Joness
Two Steps, For-Sale-By-Owners’ Can Do To Help Sell Their Homes
Selling a home today is hard enough. Just look at the national housing figures for the number of homes currently on the market for sale. Adding to the problem, the ongoing recession and economic woes of the country have caused a sharp downturn in the price of housing in most of the country.
This causes an added burden for those families that need to sell their home, but just don’t have the equity any longer or spare funds to pay Realtor fees, even reduced fees. How are they going to compete?
Although there are many factors involved in selling a home, there are two things, the typical for-sale-by-owner should focus on first, to put them on the right track.
First, they need to consider the price of their home. Most home owners will tell you that they need to get (x) number of dollars for their home. And that sticking point can often be the deal killer. The real estate market that is moving, doesn’t base sales price by what you owe, only by what the market is willing to pay for a house like yours.
This can be a hard pill to swallow for most home sellers, let alone those trying to do it themselves. But a home overpriced can sit on the market for an extended period and never even get a serious look. As a matter of fact, if there are other homes for sale in the neighborhood that are priced competitively, the overpriced home can make them look that much better.
The for-sale-by-owner needs to put their ego aside and do some serious research on homes for sale in their area and come up with a competitive price. You need home-buying traffic to produce sales. And most traffic is shopping price first.
Next, take a serious look at your home. You might even want to bring someone else in on this as a second set of eyes. Here’s the simple question to ask. “What needs repair or painting?” Now don’t start making excuses about what you see. What you’re trying to do is look at your home as someone else, who doesn’t know your home, will see it.
If something needs repair, repair it! If the home needs a washing, wash it! If your home could use a fresh coat of paint consider doing it or having it done. This gives prospective buyers a positive impression about your home and can-and actually has, sealed the deal on many home sales.
Keep in mind, repair and maintenance are not the same as staging. We’ll cover staging in another post.
Two Reason To Buy Your Next Houma-Thibodaux Home Now!
There are two excellent reasons to consider buying your next home in the Houma-Thibodaux Louisiana area. Economic conditions and present low interest rates are making this area very attractive to home buyers and investors alike.
While the rest of the country is stilling feeling the effects of recession, and now faced with a double dip recession, there are some areas of the country experiencing growth in spite of economic turmoil.
Take Louisiana for example and the Houma-Thibodaux are in particular. While the country is facing unemployment figures above 9%, Louisiana’s unemployment rate is just above 7%. And the Houma-Thibodaux area is slightly above 5%.
People are finding jobs and the work appears to be steady and growing. Even in spite of the Federal Government’s stranglehold on offshore oil and gas, the industry is finding new ways to grow, and creating new jobs as a result.
Now couple that with some of the lowest interest rate in modern history and you have a buying bonanza. Most 30 year fixed rates are in the 3to 4% range. ARM’s are in the low 3% range. But that’s not the only mortgage money available. There are many other mortgage incentives to help home buyers. There are still loans in the area that offer no money down and low thirty year fixed rate mortgages.
With all of these variables in place the next thing you would expect to see are prices starting to increase. Fortunately, prices have been stable in the area. At least for now! However, if you are interested in either buying a home or investment property, now just might be the best time to go through with those plans and take advantages of some very low interest rates.
Should I Buy A Home In Houma, LA Now?
The state of the economy, the non-governing government, and world unrest have many waiting on the sidelines wondering when is going to be the right time to buy a house in Houma, LA. The events and news of the day have people hesitant about what to do next.
The news seems crammed with only the bad news. But in reality, this is not the case. For instance, in a recent article appearing in the South Louisiana Economic Council’s online newsletter, Louisiana’s Bayou Region, Fuel Fix reported a recent study commissioned by API and NOIA, prepared by Quest Offshore, indicates 190,000 jobs could be created over the next 2 years if the pace of offshore drilling in the Gulf picks up and returns to pre-spill levels. Also in the same newsletter Baker and Hughes is projecting a better second half in 2011 for the Gulf of Mexico.
So how do these economic forecasts affect the price of houses in the Houma, LA area?
We know that there is increasing pressure on the Obama administration for offshore production. There will be no recovery without energy. We even see a 10% increase in the number of people, nationwide, wanting an increase in Gulf of Mexico production to help ease the rising cost of energy.
One thing is for certain, as the oilfield begins to heat up, so will the price of houses in the Houma, LA area. Demand always drives up the price.
The price of houses has seen a dip since 2009. Now they are stabilizing. But as soon as demand begins to increase, so to will the cost of buying a Houma, LA home.
But that’s not all. With the unstable stock market and the price of gold rising, investors will also be looking for other investment opportunities. They too may begin to enter the housing market looking for ways to improve their investment return.
Our advice? If your employment has been stable and your credit is in order, you probably won’t see prices this low for long. The time to take advantage of market conditions is now.
If you’re not sure, but want to know more, give us a call. We’ll help you to get things in order so you have a clear picture of your next step.