4 Reasons to Sell Now

Selling a property in this tough market can seem like a challenge. Here are four factors that actually make this a good time to post a For-Sale sign.

• Sell low and buy low. Because all property values are down, the loss on the property a home owner sells is really only a paper loss because the next property he buys also will be a bargain. If he buys smartly, when prices come back up in a few years, he’ll be in better shape.
• Down-payment help is widely available. While nothing-down loans have disappeared, it is easy to find down-payment assistance for lower-income and first-time home buyers. Programs vary all over the country, but one good way to find them is to search online for “down-payment assistance programs” and the name of your region.
• Your uncle has money to share. Besides the $8,000 first-time home buyer tax credit and the $6,500 move-up credit, there are an array of energy tax credits that can make home improvements pay off in cash.
• Good help is available. Really talented real estate practitioners, contractors, and designers are available and eager for business.

Source: McClatchy Tribune, Kate Forgach (02/07/2010)

Lender Checklist: What You Need for a Mortgage

• W-2 forms — or business tax return forms if you're self-employed — for the last two or three years for every person signing the loan.


• Copies of at least one pay stub for each person signing the loan.


• Account numbers of all your credit cards and the amounts for any outstanding balances.


• Copies of two to four months of bank or credit union statements for both checking and savings accounts.


• Lender, loan number, and amount owed on other installment loans, such as student loans and car loans.


• Addresses where you’ve lived for the last five to seven years, with names of landlords if
  appropriate.


• Copies of brokerage account statements for two to four months, as well as a list of any other major assets of value, such as a boat, RV, or stocks or bonds not held in a brokerage account.


• Copies of your most recent 401(k) or other retirement account statement.


• Documentation to verify additional income, such as child support or a pension.


• Copies of personal tax forms for the last two to three years.

Visit www.HouseLogic.com

In a recent article titled "HouseLogic Inspires Smarter Choices" by Wendy Cole in the February 2010 issue of REALTOR Magazine she explains how this new web site helps home owners make the most of their investment everyday.

A sampling of the site's expert advice include:

• Good questions to ask before hiring a contractor.


• When to make an insurance claim and when to skip it.


• Signs of energy leaks.


• How to plant trees in the right spot.


• Right tools and methods for bathroom cleaning.


• How to start a neighborhood letter-writing campaign.

Visit http://www.houselogic.com/ today