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December 2009 - Posts
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Source: Informa Research Services
After weeks of floating closer and closer to 5 percent, the national average rate on a 30-year fixed conforming mortgage increased slightly this week from 5.06% last week to 5.14%, according to Informa Research Services’ weekly survey of interest rates. While the average remains low, there are far lower rates available to qualified borrowers. Informa Research Services, a subsidiary of Informa plc (LSE: INF) suggests looking to online tables to find the best deals.
Checking online rates tables, like those found on RealEstate.com, can help consumers discover lenders with rates below the national average. For instance, all of the 30-year fixed rates currently posted by AimLoan are well below the national average.
Furthermore, unlike some sites, these online resources require only minimal information to retrieve mortgage rates to fit your unique situation. Usually, the only information needed to see what low rates you may qualify for is loan amount, property value, and location of the property. 
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It's 2010 (almost): Where's your mobile strategy?
If you're in real estate, you need be on the "Third Screen"
My first cellphone was a Motorola Classic II. It was a brick. It was clunky and it was heavy. Unholstering a cellphone at the time was a sign of influence; a mark of privilege. A status symbol.
How times have changed.
Today, there are now over 4.1 billion mobile phone users worldwide; there are now phones for tots, even phones for pets. So if you're running a real estate brokerage, formulating a mobile strategy in 2010 - or, at the very least, seriously considering it - is a must.
Here's why:
Phones have gotten smarter
Cellphones have morphed into smartphones. Sitting in our pockets, on our desks or silently plugged into the wall are devices whose computing prowess dwarf the mainframes of only a few years ago. High-speed data networks now blanket the country and as a result, these devices now have the ability to access the always-on, instant connectivity of the Internet.
According to a recent report from the research firm Nielsen, smartphones are on track to be the majority of phones in the U.S. by 2011 - at 50% of the market, this translates into roughly 150 million users.
This is a sea change in the way we consume media, interact with our friends and, yes, look for real estate. Marry a rapidly growing user base with a cannibalization of existing consumer products (cameras, GPS units, MP3 players etc.) and you've got a bona fide trend on your hands. The smartphone is rapidly becoming the "third-screen" in most people's lives; behind their televisions and computers -- and even that distinction is starting to blur!
In real estate, where the primary customer interface is the Web, this move towards smartphones is an important paradigm shift to understand.
The small screen means rethinking the way that you interact with your customers, and more importantly, how your customers interact with you. A desktop computer is an active, lean-forward experience. A mobile smartphone is a momentary, dive-in and dive-out experience.
There's an app for that
If nothing else, this move to smartphones has introduced a new word to our vocabulary... 2009 will surely go down in history as the year of the "app".
So what is an app? Simply put, an app is a single-use application, formatted for the small screen and in most cases, for touch screen interaction. Apple can almost single-handedly be credited for the popularization of this term, as the launch of its iPhone development platform in 2008 set off a tsunami of mobile innovation delivered in these tiny, tightly integrated software bundles. As of today, there are over 100,000 apps available in Apple's iTunes store. Everyone else is just playing catch up.
Apps can be a powerful way for consumers and customers to touch, to feel and interact with your brand. But building an app requires more than a "me-too" approach to development. In our experience at HomeFinder.com, developing an app required a fundamental, strip-it-down to basics approach. You must ask yourself, What is the core value to be delivered by this app? and how can it be accessed easily, intuitively and quickly.
For us, that value was in optimizing the on the go open house hunt for buyers and facilitating a sales process for our customers. This was the focus during development of our new “Open Houses” app, which we just launched last week.
Remember that dive-in and dive-out experience?
Rise of the Droid
The iPhone is a beautiful device. Hold one in your hands and you marvel at the industrial design. It's also been a runaway success. In Q3 of 2009 alone, AT&T said it activated a record-breaking 3.2 million iPhones on top of the more than 6 million iPhones already in service. That's a staggering market share.
But the iPhone doesn't stand alone.
This fall Verizon released the Droid - which runs Google's new Android 2.0 operating system - to much critical acclaim. Android is an open-source mobile operating system (unlike Apple's closed, proprietary iPhone OS). The Droid, while not the first, is certainly the most successful of all Android devices to date. And dozens more Android devices are slated to launch in the early half of 2010.
Bottom line: The promise behind Android is that it will take smartphones out of the premium and into the mundane. It'll move the smartphone experience into devices of all shapes, sizes, color and price points. Android may just bring smartphones to the masses.
An iPhone app in 2009 is a no-brainer. A Droid app in 2010 may just be the same.
Wonder comes in small packages
Mobile is not the be-all and end-all. It surely won't replace traditional real estate marketing efforts or presence on the Web anytime soon. But that "third screen" is increasingly important and requires a clear vision and the right strategy on which to execute.
And when it is done right, the right mobile experience can inspire wonder out of the simplest utility on a portable device. But more than anything, it makes me thankful I don't have to lug that brick around with me anymore.
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It's here!
I am happy to report that HomeFinder.com has launched our first iPhone App called “Open Houses”. This free application gives homebuyers an incredibly simple, easy way to find open homes using their iPhone or iPod Touch. You can download the app today from the iPhone App Store, here is a link to get it off of our Mobile page.
Why focus on Open Houses? Two reasons – one, the iPhone rocks, and two, we have really great open house data.
Finding open houses is something that’s still too hard to do with today’s information. Either you have to pull out the newspaper and dig through listings, or comb through a bunch of Web sites and print everything out before you hop in your car or set out on foot. This app changes that.
The app takes one of our unique advantages – our strong open house data, and puts it into a tool that makes it dead simple to find and get to local open houses. Since HomeFinder.com powers the real estate search for over 130 leading newspapers, we get great open house data, including the open houses that normally only appear in those newspapers. That data, combined with the iPhone’s GPS, and mapping capabilities, gives you a powerful, easy to use mobile tool to find open houses.
Searching for open houses isn’t something that you only do on your computer, it is inherently mobile. That is why our app is a perfect match for finding open houses, It’s pretty hard to take your laptop house hunting, and taking the time to print out a bunch of stuff beforehand, and create maps of where you need to go is a pain.
The Open Houses app allows you to find – and get to – open homes from wherever you happen to be, without printing directions, property flyers or taking time to view homes that do not match your criteria.
Here’s the full list of features:
- One click open house search, which locates you and all of the open homes around you
- View all open houses on a fully scrollable and zoomable map
- Scroll through property photos and detailed floor plans
- One click access to email and phone info to contact the selling agent, or to email a friend about a property
Making real estate searching simpler, easier and more efficient is something that you will see as a common theme from HomeFinder.com in the months and years to come. That is what we tried to accomplish with this app. Mobile applications are best when they try do one thing very well. Home buyers will always want to tour homes, and sellers and their agents will always want to be found.
Hope you enjoy the app. As always, let us know what you think so that we can make it better.
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By Gina Cappiello www.123Movers.com
Shipping an automobile is similar, but very different from moving your belongings. If you feel clueless about the whole auto transport process, read on for helpful tips on what to do before, during, and after the shipment of your auto:
Are you already covered?
Some auto insurance companies will cover your automobile transport fees, so be sure to discuss your upcoming move with them first and foremost. You may be able to get a fantastic deal from them or find out your auto transport is 100% covered by your existing policy.
Are they covered?
Ask every moving company you want to work with for their insurance certification. Every auto transport company is required to have one by law, so don’t be afraid to ask. Also, ask about their policies especially if they seem vague in the contract.
Get it all recorded!
Get everything in writing from the auto transporter! Even if it seems like common knowledge or a small detail, ask for it to be written down before signing off. If the movers refuse to write the details you request down, move on and find a better auto transporter to work with.
Clean out your vehicle
Remove all of your personal items (GPS, CD player, jewelry, money, etc) from your car before you hand it over to the auto transporters. Not only could these small items add weight to your shipment and damage your car if shifted during transport, but these items are usually not covered if damaged or stolen during transport.
Inspect your car before and after shipment
When you drop your vehicle off, the transporter will perform an examination of your car and write down any/all damages on your car. While the transporter is reviewing his/her list, create your own and compare with the transporter to make sure you both are on the same page. It is also a good idea to take some photos of your vehicle for a visual record just in case. The same inspection happens at the destination to see if damages occurred during transport. This time, check your automobile’s undercarriage and make sure your car starts properly before you accept the vehicle to ensure no mechanical damage occurred while in transport.
Record damages and make a claim
Write down all discrepancies on the bill of lading before you accept the car. If any damage has been done to your vehicle during shipping, write it down on the bill of lading, have the transporter sign it and then contact the auto shipping company for a proper reimbursement. If you are not satisfied with the auto transporter during the claims process, file a complaint with your local Better Business Bureau. You can also contact the U.S. Department of Transportation, but only if your vehicle was transported over state lines. If nothing is resolved from there, take your case to a small claims court to receive the refund you deserve. 
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The $8,000 first time home buyer tax credit, passed in February 2009, has been extended through April 30th, 2010 as part of The Worker, Homeownership and Business Assistance Act. By most accounts, the first time buyer credit has achieved its goal of spurring homes sales ammong those buyers who did not currently own a home. In fact, according to the National Association of REALTORS® Profile of Home Buyers and Sellers, first time home buyers have accounted for 47 percent of all homes sales this year. That number is up from 41 percent last year and represents the highest percentage of overall homes sales since 1981 (44 percent). Additionally, the home buyer tax credit has been expanded to also provide incentive to move-up or repeat bome buyers.
So, what do you need to know about the home buyer tax credits? We'll attempt to sort through the headlines and get to the basics with a little Q&A:
Q: How are the tax credits calculated?
A: Both tax credits are calculated as 10% of the purchase price. The first time buyer credit cannot exceed $8,000 while the repeat buyer credit is capped at $6,500.
Q: What type of purchase is eligible?
A: To qualify for either tax credit, the purchased home must be used as the primary residence of the buyer. Purchases between family members are not eligible. Additionally, repeat buyer purchases need not exceed the purchase price/estimated value of their current residence to qualify for the tax credit.
Q: Who qualifies for the tax credits?
A: Any person who has not owned a home during the 3 years prior to the date of purchase can qualify for the first time home buyer credit. For the purposes of the current homeowner tax credit, repeat buyers are defined as anyone who has owned and resided in the same property for at least 5 consecutive years during the previous 8 years leading up to purchase.
Q: Are there income limitations on the tax credit?
A: Both home buyer tax credits are available, in full, for single taxpayers with modified adjusted gross income (MAGI) of $125,000 or less and $225,000 for married taxpayers filing jointly. Above these levels, the tax credits phase out proportionally over a span of $20,000. For example, a single taxpayer with MAGI of $145,000 or more would not be eligible for the tax credit, but a MAGI of $130,000 would qualify a single taxpayer for a reduced credit.
Q: The income limitation is higher now than the previous version of the first time home buyer credit. Are these new limits retroactive?
A: Unfortunately, the income limitations are not retroactive for first time home buyers. Any home purchase made between January 1, 2009 and November 6, 2009 will retain the original income limitations, which were $75,000 for single taxpayers and $150,000 for joint filers.
Q: My modified adjusted gross income is higher than the limit but within the phaseout range. How can I estimate my tax credit?
A: In this case, you would divide your overage by the phase out range ($20,000), subtract that from 1 and then multiply by the full tax credit amount. Sounds simple enough, right?
Ok, maybe not. So, let's look at an example:
Jack is a first time home buyer with modified adjusted gross income of $130,000, or $5,000 over the income limitation of $125,000 for single taxpayers. Jack would take his $5,000 overage and divide it by the overage limit of $20,000, resulting in 0.25. Next, he would need to subtract his result from 1, giving him 0.75. Finally, Jack would then multiply the max home buyer tax credit ($8,000 due to his status as a first time buyer) by 0.75. Now we can estimate that Jack's tax credit would equal $6,000.
Q: This all sounds great, but how do I claim the tax credit?
A: The tax credits will be claimed as part of your normal federal income tax return. A copy of your HUD-1 settlement statement will need to be provided with your return, along with IRS Form 5405.
Q: I'm ready to take advantage of one of these credits, what's next?
A: Remember that buying a home is a major life decision. Both of these home buyer tax credits are wonderful incentives, but you'll need to determine if your current financial situation is conducive to making a home purchase. It is important that each individal/family evaluate their unique circumstances. Also, consult with your tax advisor to ensure that you qualify for the credit and when completing your tax return should you make a home purchase.
Once you've made those determinations, you should consult a REALTOR® and start searching homes for sale in your area to find the home that's right for you! Good luck!
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By Gina Cappiello www.123Movers.com
Having a roommate can be the best or worst thing to ever happen to you. If you need some tips on how to find and live with somebody new, read on for some helpful suggestions:
Be picky
Screen everyone you are thinking of rooming with closely regardless of if the potential roommates are friends or individuals you are meeting for the first time. Create a list of questions and concerns that are important to you and find out how your potential roommates feel about these issues. Do not compromise about your core concerns, either. It is far easier moving in with someone who respects your beliefs and feelings about a living situation than someone who does not.
Establish boundaries
Once you’ve chosen your roommate/s, it is crucial to sit down and lay down the ground rules together. If you can, discuss everything before signing the lease or moving into your new place in case you find out something about your new roommate/s you cannot handle. Divvy up chores, discuss schedules, and clear the air about any potential issues that may arise. It may sound silly to do, but it is imperative to take care of in the beginning to avoid potential arguments or confrontations.
Get your own room
If you can get your own room in your new apartment or home with roommates, do it. It may be extra, but it’s definitely worth the cost to move into a place where you are guaranteed your own living space. With your own room, you’ll always have a place to escape to for privacy and an area of the home to actually call your own. Best of all, you don’t have to worry about anyone but yourself in there.
Have a life
When living with others, it’s easy to limit yourself to hanging out with your roommates exclusively. Break out of this habit and interact with others to avoid getting burnt out on your roommates. This doesn’t mean you have to exclude your roommates from your life, though. Invite new friends to your home and have everyone hang out with one another to help strengthen bonds. Who knows? Maybe one of your new friends will end up becoming another roommate of yours in the future! 
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By Gina Cappiello www.123Movers.com
When looking for a mover, don’t just choose any moving company with a sleek logo and low prices. Do your research! Sure, research can be extremely frustrating (especially while planning a move), but it is paramount when choosing a moving company. Here are some research tips to follow when you’re looking for a moving company:
Find their licenses and insurance
Moving companies in states that regulate moving companies require all of the companies to have licensing from the US Department of Transportation (DOT) to operate. These companies should have a Motor Carrier (MT) and DOT authorization number that can easily be found online. If your state does not regulate movers, you can still research their practices through the American Moving and Storage Association (AMSA) and the Better Business Bureau (BBB). Also, keep in mind that the DOT does not regulate intrastate moves (moves that happen between states), which is why it is imperative to do your research.
Read reviews, write-ups, and recommendations
The best way to find honest feedback about a moving company is through reviews. Some moving companies will have their own employees write positive reviews, so be wary of a company with many similar sounding positive reviews from one or a few different sites. Utilize a variety of moving company reviewing sites, message boards, and blog entries to get a good idea of what a specific company is like before deciding on one. Also, speak with friends and acquaintances for recommendations on moving companies. The recommendations you receive are guaranteed to be honest since the information is coming from your trusted circle.
Get an in-home estimate
Most moving companies will give potential customers a no-obligation free in-house moving quote. This is the best way for them to not only give you an accurate estimate, but also is a great way for you to get an idea of the company you may be working with. This is the best time to ask questions, too, so don’t hold back and ask away. While they answer, listen objectively and observe their body language for any red flags (shifty eyes, nervousness, awkward stances, etc). Since 80% of a message is communicated non-verbally, it is important to observe the surveyors and go with your gut about the first impressions.
These helpful tips should get you started on the process of finding movers and will guide you to the best moving company for your moving job. 
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By Gina Cappiello www.123Movers.com
How much is too much or not enough when tipping movers? Although $20 each (along with a decent lunch and cold beverages) is standard, there are still many factors to consider when tipping a moving company for their services. Here are some questions to consider before handing over a wad of extra cash:
Long-distance move?
If movers are picking your belongings up and have to cross state lines to drop off your stuff, a different set of movers will most likely be dropping everything off at your destination. In this scenario, you should tip both batches of movers. It may be costly, but the movers will not only appreciate your generosity, but will also work extra hard to ensure your move goes smoothly.
Stairs or narrow walkways?
Many moving companies take staircases into consideration while doing your moving estimate. Ask the movers if they charge extra for stairs, narrow hallways, and other obstructions that could make the move a little more difficult. Regardless of whether or not there are extra fees associated with steps/walkways, it would be polite to tip each mover struggling with your steep steps extra for their hard work.
Number of movers?
Use common sense when it comes to the number of movers. If you have 4 movers doing an equal amount of work, a $20 tip for each is standard. However, if you have a lot of things to be moved and only have 2 movers handling everything, consider tossing them a few extra bucks. Be sure to tip each one equally and hand each one their tip directly to ensure that the foreman does not take the lump sum for himself.
Essentially, a tip is based on service regardless of the industry. Use your best judgment for your moving company and moving situation, but consider $20 per mover the minimum tipping amount. Add on more for any of the factors above to be sure that your movers are being compensated right for your move. 
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