Article 3 of the Code of Ethics states:

“REALTORS shall cooperate with other brokers except when cooperation is not in the client’s best interest.”

The real estate world is a complex interlocking network, and it’s quite common for real estate agents to cooperate with other brokers. The Standards of Practice in Article 3 lays out clear guidelines in terms of compensation, sharing of information, and the duty of cooperation. The REALTOR, acting as exclusive broker or agent of the landlord or home owner, has the responsibility to communicate the terms and conditions in regards to the cooperation. While the REALTOR has an obligation to cooperate, the REALTOR is not obliged to share fees, commission or any compensation with the other broker. Before any cooperation, the matter of compensation should be settled.

As you can see, REALTORS are held to a high level of ethics and they try their best to uphold the interests of their clients. If you are looking for a top Annapolis REALTOR, give John Day a call today.

Mortgage Rights

It’s a mistake to think that all loan documents are the same. If you can’t make your payments, you should find out what actions may be taken by the lenders as stipulated by the contract. Then, make a trip to the local Housing Office to find out about your state’s foreclosure laws and timeframes.

Talk to a Housing Counselor

Try to locate a HUD-approved housing counselor and make an appointment as soon as possible. From the housing counselor, you will get some idea about options and laws, and you may also request for representation in negotiations with the lender.

Financial Management

When you are facing problems with housing loan repayment, it’s time to revamp your spending philosophy. What are your top priorities? Do your best to cut down on expenses that are optional like club memberships, movies, holidays, cable TV, and the like. A little snip here, and a little snip there, and you may be surprised to find… you can make the payment!

Foreclosure Prevention Companies

Don’t rely on these companies to solve your foreclosure problems. If you are facing foreclosure in Anne Arundel real estate, you can get all the help from your local Housing Office, free of charge. It makes little financial sense because some of these companies may charge a fee amounting to a few months’ mortgage payment.

Confronting the Problem

Home owners who are falling behind in mortgage payments are usually facing a load of other problems, and the thought that they may lose their homes can be even more unsettling. Yet, there’s no time for procrastination or complacency. Acknowledge the problem so you can go about solving it.

Contacting Your Lender

It can be difficult for some people to go to their lenders, and admit that they are having financial problems. Well, it’s nothing to be ashamed about because the lenders already know and more likely than not, they are waiting to hear from you. Contact them as soon as possible, and find out about the available options to save your home.

Mail from Lender

Some people have it a habit to ignore mail from the lender because they treat it as bad news. If you continue to ignore the initial notices about options to prevent foreclosure, you may receive notices of pending legal action. It’s your responsibility to read and respond to your lender’s mail.

In the next post, we will look at more tips to avoid foreclosure in Annapolis real estate.

Let’s use this Neighborhood Guide to take a look at Dunkirk real estate. In the Overview page, you will find relevant information on Dunkirk demographics, real estate, transportation, and nearby neighborhoods. According to the data, the average home sold price in Dunkirk is $297,064 and the average monthly rent for a 1-Bed, 1-bath home is $1,330. In the Real Estate section, you will find that 94 percent of Dunkirk homes are occupied by owners, and the annual residential turnover rate is 10 percent. The population of Dunkirk is 2,645, and the population change is 10 percent since 2000. Other helpful statistics include median annual household income ($120,584), median age of residents (43), average commute time (38.7 minutes), and distance to nearest airport (22 miles). In the Neighborhood Guide, you will also have access to information about schools, crime, homes, and places nearby. It’s very easy to use these pages because they have Google Maps that allow you to see the location and address of various places. For instance, you can do some research on libraries, museums, grocery and drug stores, restaurants, places of worship, movie theaters, and hospitals in the Places Nearby page.

Self-Expression

Many home owners have a creative streak and they think of their home as the perfect canvas where they can “paint” their masterpiece. While it’s always good to express yourself, it doesn’t make much financial sense to make a highly personal imprint on your home. What’s “perfect” for one person may not be quite so acceptable to another person. In this sense, it’s best to opt for a less personal touch.

Out of Character

Sometimes, home owners may also get too carried away in their home improvement venture that they end up creating a monstrosity of a home. Do you really need to build that mini-golf course or tennis court? On another level, the home owner may build a space age house in the middle of a mature neighborhood with quaint, quiet houses. Is it appropriate to have such additions or renovations?  

Impactful Improvements

When you are making home improvements, think about how the renovations and remodeling will enhance the appearance of the house. For instance, a potential buyer will likely be more impressed by a new coat of paint than the radiant floor heating system.

Follow these simple home improvement tips to boost the value of your home in Dunkirk real estate, and most importantly, be disciplined in your project.

Determining the Budget

Before anything else, determine how much you are prepared to spend on the project. The cost of a remodeling or renovation job can range from hundreds to thousands of dollars. For DIY enthusiasts, the budget will provide a guide on the selection of materials, and other related matters. For home owners who are using contractors, a workable budget will take away a lot of the guess work.

Hiring a Contractor

There are enough horror stories about irresponsible or unscrupulous contractors so you should be extra careful in the selection procedure. As a general rule, it’s best to choose a contractor who has been in the business for at least 5 years. At the interview stage, pay special attention to the contractor’s experience and track record. If you find that you cannot trust the contractor, you should strike the person off your list. 

In the next post, we will provide even more home improvement tips for home owners in Annapolis real estate, and elsewhere.

According to the Washington Post study, homes have become more affordable across the State of Maryland. In 2011, there are only two Zips that require an income of over $200,000, down from 14 Zips in 2007. Four years ago, there’s only one Zip for home buyers with income of less than $50,000 but today, there  are 37 Zips with home affordability income of below $40,000. In the suburbs of Maryland and Virginia, there are some 36 Zips where the home affordability income has fallen by a whopping $55,000 in just four years! Home purchase interest rates have fallen from 6.58% in 2007 to 4.62% in 2011. For a single family home, the median price has fallen from $424,000 in 2007 to $329,990 in 2011. The income needed to purchase a home has fallen from $103,776 in 2007 to $65,088 in 2011.

As you can see, these are major drops, representing a significant advantage for home buyers. If you have an eye on your dream Dunkirk real estate, now’s the time to strike, fast!

Almost all home owners buy their property by acquiring mortgages, and the loan amount is determined by income, debt, expenses, among other factors. Obviously, the higher your income, the more home you can afford. In the Ginnie Mae Affordability Calculator, simply enter your gross income and monthly debt information to find out how much real estate you can buy. Then, you will get estimated figures for FHA Regular, VA Regular, and Conventional loans. You can also use the worksheet to get a more detailed explanation about income, savings, debt, and monthly expenses. Always remember that home ownership is a big responsibility, and your expenses will be higher in the long run. Some of these additional expenses include mortgage payments, home maintenance cost, and property tax so it’s best to cut yourself some slack. 

If you are interested in Anne Arundel real estate and you need some professional assistance, you can contact John Day, one of the best REALTORS in Maryland.

Obviously, the main reason is that John Day produces results, and that’s the fundamental point but more than that, it’s the way by which he uses his vast experience to bring the best deals for his clients. If you are looking to sell your home, it’s highly beneficial that you spend some time to view John Day’s “Sell Your Home Fast for More” training video. In a little more than 7 minutes, John lays out the main points of his Expedite program and you will see how his ideas can boost the value of your home, right away. In the example for the preparation stage, John explains why the wallpaper has to be replaced, and how the color of the carpet or the wall needs to be improved. These suggestions are based on a deep understanding of the real estate market, cultivated by many years of keen and passionate observation.

Are you looking for the best Anne Arundel REALTOR? Contact John Day today and find out how he can help you sell your home for more, faster.

Article 2 of the NAR Code of Ethics says:

“REALTORS shall avoid exaggeration, misrepresentation, or concealment of pertinent facts relating to the property of the transaction.”  

Generally, real estate agents are not viewed in such a positive light by most people because some of them will go to the extent of misrepresenting, concealing or exaggerating pertinent facts, in their eagerness to close a deal. The National Association of REALTORS addresses these concerns and set up stringent codes to uphold the integrity of the profession so you should know, a REALTOR is a real estate agent you can trust. Most buyers are dependent on real estate agents for pertinent information so it’s the duty of a REALTOR to uphold Article 2. REALTORS have the obligation to disclose and discover adverse factors in their areas of expertise, according to their real estate authority. On the other hand, REALTORS have no obligation to be an expert in other technical or professional disciplines.

If you need to contact a top Annapolis REALTOR, John Day is the best. Go ahead, make your day with John, today!