2008 Cost vs. Value Report

Still Many Happy Returns for Home Rehabs.

Remodeling magazine's annual report shows that maintenance-related projects and moderately priced upgrades are providing stable paybacks, even in a slower market.

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Source: Realtor.org

A Brief Guide to Mold, Moisture, and Your Home

The key to mold control is moisture control.

If mold is a problem in your home, you should clean up the mold promptly and fix the water problem.

It is important to dry water-damaged areas and items within 24-48 hours to prevent mold growth.

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Source: www.epa.com

Weigand to Operate Foreclosure Division

Agency expects mortgage crisis to be felt here

J.P. Weigand & Sons officials are opening a foreclosed residential properties division, the latest arm of the century-old Wichita real estate company.

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Source: Wichita Eagle, by Bill Wilson, Friday, November 14

Weigand Starts REO Division in Wichita

J.P. Weigand & Sons Inc.. is starting a new division to help banks and other mortgage lenders sell foreclosed homes.

The firm has assigned two full-time employees to the division — former Keller Williams agents Lacy Clarke and Wendy Wilkinson — who have invested in the past in bank-owned properties. Next week, the firm will begin marketing itself to lenders that are looking to unload real estate.

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Source: Wichita Business Journal, by Chris Moon, Thursday, November 13

Area Foreclosures Rise, but Experts Say Rate is Still Low

Wichita foreclosures rose slightly in August but are still well behind the record levels of early 2008.

It sounds bad, but experts say an average of a little more than 150 local foreclosures a month, mostly residential, is low in this era of sub prime mortgage failures.

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Source: Wichita Eagle, by Bill Wilson, Thursday, November 6

September TREM Report

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Source: First American Title

Multi-Family Units Make Good Financial Sense

If you are serious about making money through the inevitable "thick and thin" of real estate investing, then you need to think about multiple income streams and a wider distribution of the potential risk factors which go with every investment.

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Source: CRE Online, by Dave Lindahl

Let me help you get started investing in multi-family units. Call me today to get a list of properties that are currently for sale.

What You Can Do to Improve Your Credit

Credit scores, along with your overall income and debt, are big factors in determining whether you’ll qualify for a loan and what your loan terms will be. So, keep your credit score high by doing the following:

1. Check for and correct any errors in your credit report. Mistakes happen, and you could be paying for someone else’s poor financial management.

2. Pay down credit card bills. If possible, pay off the entire balance every month. Transferring credit card debt from one card to another could lower your score.

3. Don’t charge your credit cards to the maximum limit.

4. Wait 12 months after credit difficulties to apply for a mortgage. You’re penalized less for problems after a year.

5. Don’t order items for your new home on credit — such as appliances and furniture — until after the loan is approved. The amounts will add to your debt.

6. Don’t open new credit card accounts before applying for a mortgage. Too much available credit can lower your score.

7. Shop for mortgage rates all at once. Too many credit applications can lower your score, but multiple inquiries from the same type of lender are counted as one inquiry if submitted over a short period of time.

8. Avoid finance companies. Even if you pay the loan on time, the interest is high and it will probably be considered a sign of poor credit management.

This information is copyrighted by the Fannie Mae Foundation and is used with permission of the Fannie Mae Foundation. To obtain a complete copy of the publication, Knowing and Understanding Your Credit, visit www.homebuyingguide.org.

Source: realtor.org

August TREM Report

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Source: First American Title