We recently had a change of brokerage and needed to order some real estate signs.  I found realestatesigns.com online and their prices were a few dollars lower than others so we decided to give them ago.  We ordered 28 signs initially, but we needed them as quickly as possible as all Realtors know when switching brokerages the importance of getting your sign back up and running publicly [we ordered our panels locally btw] over a week had gone by and our card had not been charged, so we called they had no record of our payment [when I placed the order on their website I entered our card information etc] so my husband gave it to them over the phone that day – 3 days later, no charge – he called and was told no record of payment was made so after getting a little agitated the woman on the phone did find the payment and apologized – approx. 3 days later, nothing – we called and canceled the order as they had not yet submitted it and we re-ordered through Oakley Signs – the order was canceled on the phone but I also [due to the ongoing issues/confusion] emailed them stating we wanted to be sure the order was in fact canceled, that we had reordered with an alternate company due to time being of the essence etc [no response] a week had passed, we did receive our frames from Oakley delivered to the house no issue – over a week later we get an email stating shipment had occurred via UPS.. we immediately called and saw our debit card had been charged the previous day despite out 2 cancellations! 640.47 – we declined the order when it was attempted to be delivered.. since then we have spoken nearly every day to Jim the owner and have been told it will happen by end of day that day, he stated they had a new credit card machine or something to that effect and had to figure out how to use – its now been approaching the 3 week mark with trying to receive our refund and he is still stating it will be done at the end of the day.  We have requested a dispute with our bank as a result of learning a valuable lesson to not use our bank card but a proper Visa for these types of purchases, it appears we are going to have to go to court to get our monies back.  If anyone has any advise for us please let us know.  Buyer beware when using this company.  Thank you, we realize this could be a one off situation and are not trying to slander this company but most Realtors know that having that kind of cash disappear from your account is not acceptable.

Erin Thompson
Marketing Coordinator

No question the last few years have been tough on people. Many people have had their credit bruised and in some cases battered. Credits scores have taken hits. Many cases of foreclosures–or coming foreclosures. Short sales have abounded. Jobs lost. The end result is the same. A credit situation that stops people from being able to get a mortgage. So what’s the answer?

A LEASE OPTION or LAND CONTRACT…..right? Not so fast.

Right now there’s 619 houses for sale in Monroe County…out of that there’s 20 that indicate they’ll take a Lease Option, or Land Contract—3%.  So the first problem is availability?

Ok, so say one of these or one that comes up does work for you, the next hurdle is down payment. Most sellers are looking for the minimum of 10% down or a few thousand dollars…often this is just not an option.

Most homeowners who are offering these terms are covering mortgages for a variety of reasons (had to relocate for work, bought another house etc). They really want the purchaser to be “mortgageable” in a predictable and short amount of time. (2 years or 3 years top). Depending on credit situations, this hurdle is often insurmountable.

So why in theory a land contract or lease option may seem to be an answer, in practical terms, it may be no option at all.

I realize what a tough situation it is when you need housing and can’t find it and are just looking for options. Before a bad situation turns worse and you’re left looking for something that may not be available, I hope this helps.

We’ve all heard the news, no one is lending money, you can’t get a mortgage, banks are really tough right now on and on.  As someone that does this full-time for a living, I have to say I’m not really sure who they’re talking about.  No question after 2008, lending standards changed, and tightened.  There’s some basic standards though that if you meet them, I haven’t had a client denied in over 18 months. The first is a credit score–generally its 620 or 640 depending on circumstances. If you’re close to this you’re on the way to a mortgage. Next, are you employed (yes I know it seem obvious, but self-employed, fixed incomes and such are having a harder time–steady work and paycheck…you’ve made the next step). You’ve not had a foreclosure or bankruptcy in the last 3 years. Lastly, you can do 3.5% down (although you can still buy with 0% in USDA Rural approved areas).

I know it’s often a scary step, but talking to a qualified mortgage person can make all the difference. Homes are selling all over Monroe County, from Bedford Township to Carleton. I’ve had people getting as low as 4.25% in the last few weeks. The bigger issue buyers are having is a shrinking amount of homes on the market. For Monroe County, inventories are down by over 40%. It’s a great time to get a house on the market, and buyers who are waiting are taking the risk of this market turning quickly.

Here’s a pdf on when your check will arrive based on file date.  It provides both dates for both electronic deposit and snail mail!

http://www.irs.gov/pub/irs-pdf/p2043.pdf