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MY GUIDING PRINCIPLES: · Professionalism · Honesty · Fairness · Accountability · Skill · Care · Diligence and · Confidentiality! |
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THIS MONTH · Pg 2 - Reverse Mortgage Seminars · Pg 3 - Buy Small, Earn Big · Pg 3 - Coral Bay Sales Comparisons-7 Years · Pg 3 - Fixes for a Faster Sale · Pg 3 - Rates Are Edging Upwards |
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THIS MONTH · Pg 1- Teaching Our Children Community Service, (Pack 836 Donates Over $9000 to Family) · Pg 1- FSBOS: Fewer Going It Alone · Pg 1- Who Pays More? (Women & Mortgages) · Pg 2- The Buyer is Always Right, Even When the House is Wrong |
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For Successful People With Little Time To Spare |
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A Mortgage & Real Estate Newsletter By Eddie Velie Real Estate Svcs. |
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“Scouts Helping Neighbors” The 2006 recipients are Thomas (wearing #7), Audrey (on his left), and daughter holding a Grandchild. (Story on Pg 1) |
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Wacky & Funny Firsts A short story by EDDIE VELIE, as published in Florida Realtor Magazine, January 2007 Good or bad, your first transaction is always memorable. Let’s take a trip down memory lane to find out what crazy things happened during these first transactions (Florida Realtor magazine) On JANUARY 28, 2007 I celebrated two years as a Realtor and one year as a full time real estate agent. Florida Realtor Magazine is distributed to most of the 349,246 licensed real estate agents in Florida. Read my short funny story that I shared with all of them, and now you, on page two. Thank you. Eddie Velie. |
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NEED A PUBLIC NOTARY? CALL ME ANY TIME! NO CHARGE TO SINGLES OR FAMILIES! |
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EDDIE VELIE, Realtor & Licensed Mortgage Broker Discount Mortgage Finders, Inc. (954) 263-6287 Copyright: Eddie Velie
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For Successful People With Little Time To Spare |
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TEACHING OUR CHILDREN COMMUNITY SERVICE Margate’s Cub Scout Pack 836 Launches “Scouts Helping Neighbors” DONATING OVER $9000. When Cubmaster Rich Recchie went to the polls to vote last November 7th, he had an extra washer and dryer in his truck that a client had given him after painting their house. A poll worker, Audrey McLeod, asked about them and Rich gave them to her. While delivering the washer/dryer, Rich noticed the deplorable conditions around the house. He offered to repair the utility room walls and did. Touched by the needs of the family living there, Rich recruited Mike Salvadore of Mike’s Magic, to donate cabinets, sink, stove top, and more. Rich sent his work crew over to pressure wash and paint the entire outside of the house. Meanwhile, Rich, Mike, myself, and others discussed turning it into a scouting project for the kids. We did. We scheduled a finishing work day for December 17, 2006, just in time for the Holidays. Pack 836 members brought their kids, wives, grandparents, and siblings to landscape the front yard. Over 30 people helped the kids participate in planting, mulching, raking, picking up, and pulling weeds. The story first appeared in the Margate Coconut Creek Forum on January 11, 2007. As Committee Chairman, I am quoted in the Forum article as saying, “I have never been more proud of working with a group of people with the sincerest intention of helping others. It is our intention to make this an annual event to help somebody in need by contributing goods and services in a way that improves their quality of life without encouraging bad habits”. I mean that. (photo on page 4) See http://MargatePack836.org if you are interested in joining with your son (ages 5—10 years).
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FSBOS: FEWER GOING IT ALONE
NAR reports a drop in the number of for-sale-by-owner (FSBO) transactions to 12 percent of all sales today from 18 percent in 1997. NAR spokesman Walter Molony says property owners believe agents are better equipped to achieve fast sales at top dollar in a slow market, adding that the median price for agent-assisted transactions was about 16 percent higher than FSBO sales last year. Molony notes that agents orchestrate showings, handle paperwork and identify serious buyers for sellers – who often lack the time or experience necessary to complete such tasks. NAR's 2006 Profile of Home Buyers and Sellers shows that 5 percent of sales from mid-2005 to mid-2006 involved FSBO sellers turning to an agent, with only 1 percent of sales involving sellers who abandoned their agents to go it alone. Source: Investor's Business Daily (01/19/07) P. A8; Kelly, Brad © Copyright 2007 INFORMATION, INC. Bethesda, MD |
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A Mortgage & Real Estate Newsletter By Eddie Velie Real Estate Svcs |
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FREE Refinance Analysis (954) 263-6287 |
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WHO PAYS MORE? Women are 32 percent more likely to carry mortgages with high interest rates than men with similar incomes, even though women generally have better credit scores, according to a study released recently by the Consumer Federation of America. The study also found that wealthier women were 50 percent more likely to carry expensive loans than their male counterparts. In 2005, 10 percent of women who took out mortgages received the highest-cost sub-prime loans, compared with about 7.5 percent of men. Why do women pay more? Allen Fishbein, the federation's director of housing and credit policy, speculates that the most likely reason for the disparity was that women were less familiar with the mortgage market than men and didn't shop around. "There is some research indicating that women are, on the whole, less likely than men to bargain for major consumer purchases and credit transactions," he says. Source: The New York Times, Bob Tedeschi (01/21/2007) © Copyright 2007 INFORMATION, INC. Bethesda, MD |
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FREE Debt Consolidation Analysis (954) 263-6287 |
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DID YOU KNOW? Under the new legislation passed last month by the State lawmakers, homeowners can voluntarily switch to the state ran Citizens Insurance — If their current company is 25% more than Citizens. |
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Page 2 |
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Velie Real Estate Mortgage Services Offers Reverse Mortgages With home insurance and real estate taxes going through the roof, few senior citizens can afford to “trade down” like the old days in their Golden Years. When they had an empty nest, they sold the big home and moved into a smaller more manageable home. Today, moving to a smaller home could cost your more because of the increased tax bill. The answer is a reverse mortgage. You still own the home, you can still sell the home, you can still leave the home to your heirs, AND DRAW MONTHLY INCOME FOR THE REST OF YOUR LIFE. Or, have your monthly mortgage payment made for you with the reverse mortgage freeing up more income to ENJOY YOUR GOLDEN YEARS! CALL ME NOW FOR A FREE, NO OBLIGATION PRESENTATION TO YOUR SOCIAL GROUP, CLUB, OR ASSOCIATION! DON’T WAIT — CALL NOW! (954)-263-6287 |
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MY MISSION STATEMENT My purpose is to express my Honesty, Diligence and Professionalism by disclosing the truth to clients even to my own detriment, by persevering to meet goals even years away and by conducting myself to meet or exceed industry standards in all areas ~. (As posted on my office wall since April 2006) |
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A Mortgage & Real Estate Newsletter By Eddie Velie Real Estate Svcs |
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The Buyer Is Always Right, Even When the House Is Wrong When the market was red hot in early 2005, my customer and I made offers three times on villas that turned out to be under contract by the time we submitted our offer. One had gone under contract after being on the MLS only 19 hours! The listing agent for another villa that we bid on explained that while it was under contract, he had another listing coming up within the week and my client and I could have a first look before it even went on the MLS. He really talked up the superior condition of this villa versus the one we had just lost in bidding. He gave us the address, and we went to see the unit. The lockbox wasn’t where he had said it would be, but I thought nothing of it because the front door was unlocked. We announced ourselves and no one answered, so we entered and spent about an hour looking into all the closets and cabinets, and inspecting everything. We talked about how this unit was nicer than the previous one, even though it wasn’t the spectacular model type that had been described. I sat down at the table and wrote out an offer while my buyer lounged around on the leather sofa and poked through the bathrooms. After about an hour, we left the unit just as we had found it. I went home and faxed over the offer. The next day, we went back to take a second look after the other associate told us the price had gone up $10,000, and my customer wanted to see if she wanted to match the new list price. We knocked on the door, and a very nice, grandmotherly woman answered the door. My client and I were horrified at the thought of having spent over an hour in the wrong villa, browsed all over, sat at their table, written an offer for a unit that wasn’t even for sale and not having even been challenged. After we apologized profusely and left, we began to laugh. We laughed and laughed and laughed. That was about the only thing we could do. In the end, the buyer didn’t buy either villa. So much for my first transaction! Short Story by Eddie Velie, EXIT United Realty, Margate Reprinted From Florida Realtor magazine, January 2007 | page 42 | by Michele Lerner
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GET SOME BREATHING ROOM FROM YOUR BILLS Eddie Velie, Realtor & Licensed Mortgage Broker in now offering a FREE RE-FINANCE ANALYSIS! Pay off those cars, credit cards, 2nd mortgages, or get cash out for the much needed vacation — I COME TO YOU! CALL NOW FOR YOUR FREE NO OBLIGATION APPOINTMENT! |
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For Successful People With Little Time To Spare |
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FREE Home Equity Analysis (954) 263-6287 |
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FREE Listing Guarantee—(954) 263-6287 |
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DID YOU KNOW? Florida law requires anyone who manages a Homeowner or condominium association of over 50 units or a budget over $100,000 to have a Community Association Manager’s license? |
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BUY SMALL, EARN BIG
Even in today's uncertain climate, a hands-on real estate investor can make money with smaller properties that are easy to acquire and manage. Here are some suggestions to get started: Rent out a part of your own home for $400 a month and use that money every month to pay down mortgage principal. Shaving 10 years from a $350,000 30-year mortgage will reduce total payments by more than $165,000. And you’ll be able to write off all your costs on your income taxes, including depreciation on the unit, up to your actual rental income. If buying a single family home, make sure you can put 10 percent down and rent the property for more than your monthly payment, interest, taxes, insurance and a $200 expense budget. Low-balling a foreclosed home owned by a lender is one way to find such a property. Consider buying a two-family home, where you’ll make nearly twice as much in rent for a property costing little or no more than a single family. Source: The Wall Street Journal, David Crook (01/10/2007) © Copyright 2007 INFORMATION, INC. Bethesda, MD |
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For Successful People With Little Time To Spare |
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A Mortgage & Real Estate Newsletter By Eddie Velie Real Estate Svcs. |
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FREE CREDIT Analysis (954) 263-6287 |
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FREE CMA Analysis (954) 263-6287 |
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Rates Are Edging Upwards Feb. 2, 2007 – Rates on 30-year mortgages hit the highest level since late October following the release of more economic data showing a rebounding economy. Mortgage giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages averaged 6.34 percent this week, up from 6.25 percent last week. It was the fourth consecutive weekly increase and pushed these mortgages to the highest level since they were at 6.40 percent the week of Oct. 26. Find out more on the Net at: Copyright 2007 The Associated Press, Martin Crutsinger (AP Economics Writer). All rights reserved. This material may not be published, broadcast, rewritten or redistributed. |
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CORAL BAY CLOSED SALES COMPARISON 2000 — 2006 From 2005 to 2006 average prices in Coral Bay are up 13.6% even while the number of sold homes is down 122.4%. From 2003 when 15.9% of homes traded owners, the number of sold homes has declined to only 4.9% in 2006 of all 997 homes in Coral Bay. This data was downloaded directly from Broward County records. This means that it includes “For Sale By Owner” data unlike the data from the Realtor Association. Title transfers without a sales price, quit claim deeds, and other irrelevant data is removed. The data does not reflect any deals made after closing like cash back from the seller. This data can be regarded as reliable but not guaranteed. For more information, give me a call. |
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FIXES FOR A FASTER SALE Want to help your sellers? Here are 10 quick fixes that make a house more likely to be snagged up by buyers, according to home stager Lori Matzke, founder and president of Centerstagehome.com in Minneapolis: 1. 1. Paint the trim, columns, front door, and the light fixture. 2. 2. Replace the storm door with a full-view one. 3. 3. Clean all the window screens. 4. 4. Add new mulch and a potted plant by the front door. 5. 5. Remove mirrors from over the fireplace so buyers focus on the fireplace. 6. 6. Move furniture 1 1/2 to 2 feet away from the walls to create the illusion of more space. 7. 7. Get rid of any movable storage pieces in the kitchen and take all the clutter off the refrigerator. 8. 8. Clean and regrout the bathroom floor tile. 9. 9. Replace dated bathroom vanities with trendy (and economical) pedestal sinks. 10. 10. Put colorful bedding and matching window treatments in all the bedrooms. Source: Star-Tribune, Aimee Blanchette (01/27/07) © Copyright 2007 INFORMATION, INC. Bethesda, MD |
