Nominations Sought for Good Neighbor Awards

Posted on May 9, 2012 by admin

REALTORS® work hard to help people buy and sell homes, while also dedicating their time and efforts to improve the quality of life in communities across the country. The National Association of REALTORS® recognizes these REALTORS® who devote themselves to volunteer service through REALTOR® Magazine’s Good Neighbor Awards, which is currently accepting applications.

Five winners will be announced in the November/December issue of REALTOR® Magazine. Each winner will be recognized at the 2012 REALTORS® Conference & Expo in Orlando and will receive a $10,000 grant for his or her charity. Winners will also receive travel expenses to the conference and national and local media exposure for their community cause. In addition to the winners, five honorable mentions will each receive a $2,500 grant.

“This year marks the 13th annual Good Neighbor Awards,” NARPresident Moe Veissi said. “The program is significant not just because it spotlights members who have a strong commitment to helping others, but because it reminds us that REALTORS® build communities in more ways than one. The awards signify the dedication and passion REALTORS® have for helping others in need.”

Last year’s Good Neighbor Award winners contributed a combined total of more than 8,000 hours to their causes and drew a standing ovation from more than 6,000 REALTORS® and guestsduring the conference’s general session in Anaheim, Calif. The 2011 winners were LeRoy J. Bendickson, Edina Realty, Edina, Minn., for National Multiple Sclerosis Society, Minnesota Chapter; Marta Karpiel, Alain Pinel REALTORS®, Carmel, Calif., for Freedom Fields USA; Vito A. Pampalona, Vito Anthony Homes, Rochester, Mich., for the Yellow Ribbon Fund; Judy Pitt, Wright Kingdom Inc., Boulder, Colo., for Kazi Yake (In His Hands); and Wayne J. Shaffer, Shaffer and Associates, Santa Cruz, Calif., for St. Francis Catholic Kitchen, Siena House Maternity Home, and Jesus Mary Joseph Home.

Previous Good Neighbor Award winners say their charities benefit from the grant money and the increased public exposure. “We don’t do what we do to get awards,” said 2011 Good Neighbor Award winner LeRoy Bendickson, who won for his work with the National Multiple Sclerosis Society, Minnesota Chapter. “But the national attention that resulted from winning the Good Neighbor Award has increased awareness of the disease and I can see that the fundraising will be advanced and that this year’s team will be larger than ever. Now I look at awards differently — they can be a huge help in furthering the cause you are fighting for.”

Good Neighbor Awards entries must be received by Friday, May 18, 2012. For more details and a nomination form, call 800/874-6500, visit the Good Neighbor Awards section on the REALTOR® Magazine Web site, or see the March/April issue of REALTOR® Magazine.

REALTOR® Magazine’sGood Neighbor Awards is sponsored by Lowe’s and HouseLogic. In addition to the grant money, each winner will receive a $2,000 Lowe’s gift card and each honorable mention will receive a $1,000 Lowe’s gift card.

Download a 2012 Good Neighbor Awards application (PDF)

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Building and Maintaining a Great Credit Profile

Posted on April 23, 2012 by admin

Your credit report represents how well you manage your financial responsibilities. The good news is that your negative information drops off over time but the positive information remains. Building a strong and consistent history of responsibly using credit is the foundation to building a great credit profile. Although it’s relatively easy to gain access to new credit such as credit cards, there are many best practices to use and common traps to avoid. Here are a few easy tips for effectively building your credit history.

Applying for new credit

  • Don’t apply every time you see an offer. Getting too much credit too quickly can hurt your credit profile.
  • Don’t build your credit profile through trial and error. Consult an expert such as a credit coach to develop a plan based on your short- and long-term needs.
  • Print clearly when applying for credit. If your application information is entered inaccurately it can create variations of reported information on your credit report.
  • Consistently use your complete name without any variations. Providing complete, accurate and consistent identification on your credit applications helps set up your credit history correctly from the beginning. It also minimizes the chance that your credit file will be incomplete or mixed with another consumer’s file.
Once you have credit
  • Pay your bills on time. Most lenders look at the most recent information on a report. So if you’ve paid your accounts on time for the last two to three years, the lender may weigh that more heavily than a series of late payments from five years ago.
  • Set up a budget, and follow it. This is so much easier said than done! A credit coach can help provide you guidance on creating and managing a budget based on current income and debt as well as your short- and long-term credit needs. In the age of self-help and empowerment, managing your finances should top your list. The key is not to over-extend yourself.
  • Develop and follow a plan for the type of credit you have, how you use it, and the type of credit you may need in the near future.
  • Review your credit report periodically throughout each year.
    • At least 60 to 90 days before making a major purchase (such as a home, car or large household goods) you should prepare by reviewing your credit profile to help ensure it is optimized.
    • Continual evaluation of your credit profile is necessary to ensure you are not paying unnecessary interest expenses (i.e., you could qualify for lower rates and better terms). The average homeowners spend an estimated $300,000 in their lifetimes on unnecessary interest expenses.
    • Ensure no fraudulent or erroneous activity has occurred related to credit profile. An estimated one in eleven families was a victim of identity theft last year.
Getting help

A personal credit coach can be incredibly valuable whether you understand credit or not. Having a credit coach is similar to an asset manager except it’s for your liabilities. A coach will work closely with you to explain your credit profile, provide you guidance with ways you can more effectively manage it, and can help you evaluate it on an ongoing basis. Changes continually occur for all of us. Jobs change, unforeseen expenses happen and so on. If you begin to fall behind on your payments.

  • Contact your lenders. Ignoring the situation will only add to your problems. Many lenders will work with you to set up a different payment schedule or interest rate. It never hurts to ask.
  • Pay your bills when they’re due. If you have an overdue bill, unpaid debt, tax lien or judgment, pay it off. You may find it easier to pay one affordable consolidation loan rather than several separate accounts. Your credit coach can help identify what options may be available to you.
  • Stop using credit, if possible, until your finances are under control. Consider going to cash purchases only based on your budget. This will STOP the financial bleeding while you pull your credit management plan back into place.
  • Look to professionals like the ApprovalGUARD Service. Your credit coach is experienced in explaining your credit and indentifying ways to optimize and manage debt.
  • AVOID credit repair agencies. “If it’s too good to be true then it often is!” Most credit repair agencies typically charge you high prices to artificially “fix” your credit. This unfortunately often amounts to “band aid” work that manipulates loopholes in the system and often results in the credit issue returning to your credit report within months after it was supposedly fixed. If you have inaccurate information on your report, your ApprovalGUARD credit coach can help you identify it and specifically provide you with the proper methods for getting it addressed.

It’s important to note that The Credit Repair Organization Act is a federal law that prohibits credit repair clinics from taking a consumer’s money until they have fully completed the services they promised. It also requires such firms to provide consumers with a written contract stating all the services to be provided and the terms and conditions of payment. Consumers also have three days to withdraw from the contract.

The ApprovalGUARD Service - Is the first and only service of its kind. Each ApprovalGUARD customer is assigned a personal credit coach to help them understand, evaluate and optimize their credit and debt profiles. The ApprovalGUARD Service additionally provides each Full Service customer with credit reports, credit scores, continual informative credit tips and education, and tools to more effectively manage and analyze their credit and debt profiles. Go to www.ApprovalGUARD.com and use the promotion code: REMAX1 for your free 30 day, no obligation trial.

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Get Your Free Credit Report

Posted on February 21, 2012 by admin

Normally, the credit reporting agencies (CRAs) may charge you a fee for a copy of your credit report. However, an amendment to the Fair Credit Reporting Act requires each of the CRAs to provide you with a free copy of your credit report once every 12 months.

Get Your Free Credit Report
To obtain a free copy of your credit report:

  • Visit AnnualCreditReport.com, or
  • Request your free credit report by phone by calling 1.877.322.8228. Deaf and hard of hearing consumers can access the TTY service by calling 711 and referring the Relay Operator to 1.800.821.7232.

To request your free credit report by mail, please complete the Annual Credit Report Request Form(PDF document) and mail it to:

Annual Credit Report Request Service
PO Box 105281
Atlanta, GA 30348-5281

Answers to frequently asked questions about AnnualCreditReport.com are also available.

Other Times You Are Eligible for a Free Credit Report
You may also request a free copy of your credit report in some other circumstances. Visit website about access to free credit reports from the Federal Trade Commission (FTC) for this information. Or, call the FTC and speak to a representative for assistance. You may call them at 1.877.FTC.HELP (1.877.382.4357) or 1.202.326.2222. TTY users may call 1.866.653.4261.

Changes to Advertising for “Free Credit Reports”
As of April 2, 2010, advertising for free credit reports require new disclosures to help consumers avoid confusing free offers– which often require consumers to spend money on credit monitoring or other products or services– with the free credit reports available at AnnualCreditReport.com. For more information, please visit the FTC news release concerning the amendment to the Free Credit Reports Rule.

Filing a Complaint
If any of the CRAs denies your request for a free credit report:

  • Contact that CRA directly to try and resolve the issue. The CRA should inform you of the reason they denied the request and explain what to do next. Often, you will only need to provide information that was missing or incorrect on your application for a free credit report.
  • If you are unable to resolve the dispute with the CRA, file a complaint with the FTC by calling 1.877.FTC.HELP (1.877.382.4357) or 1.202.326.2222. TTY users may call 1.866.653.4261.

Additional Resources:

Please note: To view and print PDF documents, you must use the Adobe Reader software, which is available for download without charge.

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4 Tips for Buying Your First Home Together

Posted on February 20, 2012 by admin

Buying your first home with your partner/spouse.

Consider these tips when buying your first home together:

1. Browse together and often.
When buying your first home, it’s almost impossible to spend too much time browsing together. Visit as many open houses and home tours as possible. Pore over listings on the internet. Figure out what each of you can and can’t live without in your next home.

It’s vital to discuss your preferences often. Try this exercise: Pick a room in your future home and separately make a list of your “must-haves” for that room. Compare your lists and talk about the similarities and differences. Figure out what compromises can be made so that you’ll both be satisfied homebuyers.

Most importantly: Be honest. Don’t hide your true feelings and preferences. If you’ve changed your mind about wanting a huge backyard, say so. Most homebuyers these days stay in their homes for nine years. You want those nine years to be comfortable and enjoyable, right?

2. Consider credit issues for BOTH of you.
Your bills are always paid on time. Your credit score soars in the upper echelon. How did you fall in love with someone with bad credit?

All VA loan borrowers and co-borrowers will be under close credit scrutiny by a lender. Credit scores for both borrowers have to measure up to the 620 minimum. Income, employment and debts for all borrowers will be analyzed.

If your spouse lags far behind you in creditworthiness, you might consider obtaining a loan in your name alone. This action involves some legal consequences that vary from state to state, so make sure to get a real estate attorney’s advice before proceeding.

3. Don’t overspend.
Buying your first home with your partner/spouse can be the most thrilling time of your life. You picture dogs rambling in your first backyard and kids pedaling bikes down the driveway.

Somewhere along the line, budgeting tumbles to the bottom of the priority list.

Don’t let a home bankrupt your family. Determine the mortgage payment that you can comfortably make each month and stick to that figure. Keep in mind that as a homeowner, you’re responsible for repairs and maintenance, which can also be costly. Maintain a reserve fund for repairs and keep a few months of mortgage payments stashed away in case of emergency.

4. Have fun!
If you and your spouse are not shopaholics by nature, you may need a little motivation to get your house hunt started. Pack a picnic basket full of goodies to enjoy during a day of house tours. Splurge on a dark chocolate mocha for your next meeting with your agent. Post pictures of your home tours online and ask your friends and family for feedback. Enjoying your time together is key to both a successful relationship and a successful house hunt!

Visit our website to start your home search today:

www.rochesterhomesplus.com 

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Housing Crisis to End in 2012 as Banks Loosen Credit Standards?

Posted on January 26, 2012 by admin

Capital Economics expects the housing crisis to end this year, according to a report released Tuesday. One of the reasons: loosening credit.

The analytics firm notes the average credit score required to attain a mortgage loan is 700. While this is higher than scores required prior to the crisis, it is constant with requirements one year ago.

Additionally, a Fed Senior Loan Officer Survey found credit requirements in the fourth quarter were consistent with the past three quarters.

However, other market indicators point not just to a stabilization of mortgage lending standards, but also a loosening of credit availability.

Banks are now lending amounts up to 3.5 times borrower earnings. This is up from a low during the crisis of 3.2 times borrower earnings.

Banks are also loosening loan-to-value ratios (LTV), which Capital Economics denotes “the clearest sign yet of an improvement in mortgage credit conditions.”

In contrast to a low of 74 percent reached in mid-2010, banks are now lending at 82 percent LTV.

While credit conditions may have loosened slightly, some potential homebuyers are still struggling with credit requirements. In fact, Capital Economics points out that in November 8 percent of contract cancellations were the result of a potential buyer not qualifying for a loan.

Additionally, Capital Economics says “any improvement in credit conditions won’t be significant enough to generation actual house price gains,” and potential ramifications from the euro-zone pose a threat to future credit availability.

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The Most Affordable Housing Market Since 1965

Posted on January 18, 2012 by admin

Those doubting that the U.S. real estate market is on the cusp of a sustainable recovery may want to consider this: Americans have not seen a more affordable housing market since 1965. The household income required to qualify for purchasing an existing home reached $30,000 last month, the lowest level since the early 1990s, notes National Bank Financial analyst Stéfane Marion.

To put that into perspective, look at the wages the average American brings home. Mr. Marion divided the qualifying income by the average hourly earnings of employees on payrolls, which stood at $19.54 in December. His conclusion: an average household must work 1,600 hours a year to afford a home, far below the historical average of 2,700 hours. One surprising aspect of this is that two incomes are no longer essential to afford a home. Assuming a 35-hour work week, one person works 1,850 hours a year, well above the 1,600-hours minimum needed to enter the home market. “For the first time since the mid 1960s, even households composed of a single full-time wage earner can thus afford home-ownership – provided a financial institution is willing to lend them,” Mr. Marion said.

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New York May Be Improving?

Posted on January 16, 2012 by admin

Governor Andrew Cuomo’s job performance has reached new heights, for the first time in more than five years a majority thinks New York is on the right track, a Siena College poll released Monday shows improvement.

Some 62% think Cuomo is doing an excellent or good job, with 17% stating it to be excellent—the highest since Cuomo took office in January 2011. Also, 37% say he is doing a fair or poor job.

Cuomo’s favorability rating is at 73% positive and 20% negative. The 73% positive matches his April 2011 rating and trails the 77% rating in February 2011, a month after he took office.

“After a little more than a year in office, the governor may not be a newlywed anymore but his honeymoon with voters continues stronger than ever,” poll spokesman Steven Greenberg said in a statement.

51% think the state is on the right track, the survey shows, with 38% thinking it is headed in the wrong direction and 11% saying they do not know or have no opinion.

It is the first time that more than 50% feel the state is headed in the right direction since Eliot Spitzer’s landslide election in November 2006, and up from 42% in the last Siena poll in November 2011.

Some 51% think Albany is considerably less dysfunctional after Cuomo’s first year in office, with 45% saying the state is still way too dysfunctional.

Among specific issues, 60% say Cuomo should veto any redistricting plan put forward by the state Legislature, Greenberg said.

The survey was done Jan. 6-12 with telephone calls to 805 registered New York voters. The margin of error is 3.5%.

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Report Predicts Stable Rochester Real Estate Market in ’12

Posted on January 11, 2012 by admin

Last month, a national report listed Rochester as one of the top major real estate markets to experience growth in home prices in 2011. The latest update of that report forecasts the market here will remain stable in 2012.

ClearCapital.com Inc., a California-based provider of real estate and investment data for major financial groups, Monday released its final Home Data Index Report year-over-year for 2011 as well its forecast for 2012.

The report examines the country’s overall real estate market stability in terms of home prices. The report shows a national decrease of 2.1 percent for 2011.

The report ranks Rochester fourth among major metro markets with a 2011 observed year-over-year home price increase of 4.7 percent. Rochester ranked behind Dayton, Ohio; Orlando, Fla.; and the Miami-Fort Lauderdale-Miami Beach, Fla., markets.

Clear Capital’s 2012 Forecast predicts a national increase in home prices of 0.2 percent. After a solid year, the report forecasts the Rochester market will remain stable with a slight decrease of 0.2 percent. The report predicts Rochester will end 2012 ranked 26th among major metro markets, the highest ranking market in New York.

The Home Data Index Report takes into account factors, including local economic conditions and real estate owned saturation, which accounts for properties that are in the possession of a lender as a result of foreclosure or forfeiture.

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Manhattan Square Park and Ice Rink

Posted on January 4, 2012 by admin

Manhattan Square Ice Rink is offering free youth ice skating lessons on six Saturdays from January 7 to February 11. Call 585-428-7541 for more information.    

 

353 Court St. 14607 
View a map

General Information

Located in the East End District of downtown Rochester and adjacent to the Strong Museum, Manhattan Square Park is a popular gathering place. After renovations were completed in 2008, the year-round park has been the busy home to a wide range of visitors from families from throughout the region to downtown workers on their lunch breaks.

Amenities

Winter: The renovated ice skating rink boasts a kidney-shaped surface that is 30 percent larger than the original rink. Patrons can enjoy an expanded warming shelter that features a heated floor and fireplace, new rental skates and a new sound and lighting system. (See 2011-2012 skating season schedule and rates below). 

Summer: In the warmer months, the ice rink doubles as a reflecting pool equipped with three fountains. The colorful playground provides a water spray park to cool children off from the summer heat. Benches and picnic tables around the rink serve as picnic spots during the summer. The warming shelter is available for rental from April-October.

2011-2012 Rink Schedule (Nov. 20, 2011 through March 17, 2012)

Open Skate Monday-Friday

12:00-1:30 pm; 3:40-5:10 pm; 5:30-7:00 pm; 7:20-8:50 pm*

* On Tuesdays, Wednesday, and Thursday, rink rentals may preclude open skate in this time slot. Call 428-7888 to check schedule.

Adult Skate, Monday-Friday  

1:50-3:20 pm, age 18 and up  (Except during school recesses: 12/26-12/30/11, 2/20-2/24/12)

Open Skate Saturday and Sunday 

Saturday times: 12-1:30 pm; 1:50-3:20 pm; 3:40-5:10 pm; 7:20-8:50 pm

Sunday times: 12-1:30 pm; 1:50-3:20 pm; 3:40-5:10 pm; 5:30-7 pm    

For rentals on weekends, call 428-7541.                                                                                   

Special Events                                                    

Sunday, February 12, 2012
Sweetheart Skate Celebration
Music and Contests 5:30-7:00 pm
(dress in red for a surprise)
$4 per couple

Saturday, March 17, 2012
Skating Season’s Last Day-St. Patrick’s Day at the rink
Those wearing green will get free admission (skate rental fee applies)

Skating Fees

Adults: $5
17 and under: $2
Families: $14
Discount Pass: $20
Season Pass: $60
Skate Rental $3 (skates and sizes are limited)

Rent the Facility During Skating Season

Fill out the Facility Use Permit Application if you are interested in renting the rink for your next event.

Group rentals are available, please contact (585) 428-7541 for information.

Rates: $125 for not-for-profits; $155 others

Other skating venues

Indoor ice rink at Genesee Valley Park Sports Complex.

Parking

Parking is free after 6 p.m. in the lot directly across from the rink on Manhattan Square Drive or for a fee at meters on Court Street or in the nearby Washington Square Garage.

Park Rules & Regulations

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Top 9 Real Estate Markets to Watch in 2012

Posted on January 3, 2012 by admin

The real estate industry nationwide may have had a few tumultuous years after the great recession, but there are plenty of markets that have weathered the storm and are stable and even showing signs of improvement. Homes.org recently released their list of the top 9 markets to watch in 2012.

The list was compiled using various market factors including, affordability, appreciation potential, price stability, area unemployment/job potential, and median price. When taking these factors into consideration, the real estate markets below stood out as top performers where buying a home is likely to be a good investment.

Top 2012 Real Estate Markets

Washington, DC – The Washington, DC area has held strong over the last year. According to the Clear Capital Home Data Index™ December Market Report, The Washington, DC / Arlington, VA / Alexandria, VA area has experienced quarter-over-quarter and year-over-year gains with a low 11.7% REO saturation rate.

Santa Fe, NM – Santa Fe didn’t suffer as huge a price drop as many areas of the country, and homes in the city are expected to increase in price by more than 9% over the next five years. Santa Fe also has an low unemployment rate of 5.4% and high median income making it a great place to settle in.

Bremerton, WA – This city also has a somewhat low unemployment rate of 7.9%, high median income and expectations for the home prices to increase more than 9.5% by 2016.

Orlando, FL – A number of Florida cities have shown signs of recovery in 2011 but home prices are still well below their peaks from a few years ago making them a good place for buyers to consider investing in. This is especially true in Orlando where there have been gains all year long and unemployment has started declining.

Rochester, NY – The Rochester real estate market has started to stabilize, so much so to the point that it has one of the highest major market year-over-year gains of 5%.

Austin, TX – As a technological center, Austin, TX has avoided a fair amount of the unemployment trouble the rest of the country is experienced. The city also didn’t have a housing bust so gains and recovery will be easier than in other areas.

Houston, TX – Houston is another Texas city that hasn’t had severe price drops and is in fact gaining quarter-over-quarter and year-over-year. The Clear Capital Home Data Index™ December Market Report lists the Houston, TX as the 5th best performing market in the U.S.

Cambridge, MA – Cambridge, a suburb of Boston, MA, is one of the smaller markets on the list. As reported already, the Boston area has avoided a serious hit to their real estate market thanks to stronger employment and not having experience severe price drops.

Chicago, IL – The Chicago, IL area was listed on Clear Capital list of top performing major markets in December. It’s one of the major markets in the Midwest, which is the region that has experienced the highest quarter-over-quarter gains.

To find more information on mortgage rates, homes newly listed for sale and real estate resources, please visit: www.rochesterhomesplus.com

 

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