Easter Fun Facts Pg. 12
April 3, 2015 BrevardElite.com
Links & Content In This Issue: New Roadblock to Closing A Deal On A House Smart Air Conditioner Maintenance Tips Agent Development – Success April Training Calendar What’s The Best Hue for Selling? Easter Fun Facts Home of the Week Darren Hardy: Jerks The 20% Down Myth Exposed Pinterest – Gardening Top RE/MAX Agents in Brevard From ARMs to PMI Terms You Should Know Awards Recognition RE/MAX Main Street Birthdays & Anniversaries Property Management Division Supporting Staff
Website Links: Training Center RE/MAX Mainstreet Paperless Pipeline ShowingTime RE/MAX University The ABOVE Magazine
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All RE/MAX Elite Offices are Closed Easter Sunday. Happy Easter
Prestige Title
Prestige Title of Brevard has the knowledge, experience, and resources to get your real estate transaction closed. So whether you’re a buyer, seller, mortgage broker, lending institution, or real estate professional we want to be your preferred title insurance provider of choice!
5120 N. Highway US 1, Suite 102 Palm Shores, FL Phone: 321.242.7660 Fax: 321.242.1675
Tiffany Fortenberry 321.288.8931 Shawn Fortenberry www.prestigeclosings.com 321.302.0031 BrevardElite.com
Come August, there will be a new roadblock to closing a deal on a house New integrated disclosure forms will throw a wrench in the homebuying works There’s a shift coming that’s about to wreak havoc at the closing table for agents and clients alike. On Aug. 1, 2015, the new TRID (TILARESPA Integrated Disclosure) forms replace the HUD-1 Settlement and Good Faith Estimate. The Consumer Financial Protection Bureau’s mission is to rebuild the mortgage banking landscape so that the industry will avoid the type of conditions that led to the Great Recession. The CFPB replaces the Department of Housing and Urban Development for oversight because HUD did not provide specific consumer protection. Everyone agrees that increasing consumer protection is a desirable goal. Nevertheless, the unforeseen ripple effects from these changes could seriously disrupt how the closing process is conducted. A recent Inman article outlined one of the most serious issues that will result from the new changes handed down by the CFPB: The new rules will require a new three-day waiting period when there are any changes in the TRID forms. The recommendation is to allow an extra 15 days to close your transactions. In other words, 30-day contracts will now require 45 days, and 60-day contracts will require 75 days.
Who will be hit the hardest? The states that will be hardest-hit are those where the agents or principals must be physically present for the closing. “Escrow” states, where the documents and signatures are normally submitted a few days prior to closing, will be less likely to have issues. In “closing table” states, clients, agents and attorneys are accustomed to routinely making changes at the closing table and still closing the sale on same day. The new three-day waiting period will severely limit this practice for items covered in the TRID documents. The biggest headache: the moving van When transactions don’t close on time, it’s common for one or more of the principals to be stuck with furniture on a moving van and nowhere to go. Any agent who has experienced an irate client in this situation knows how nasty this situation can be. In most cases, these issues are resolved and the transaction closes the next day. Nevertheless, more than one agent has footed a hotel bill for their clients (especially those who are relocating). Moreover, if there are multiple properties involved, any delay on one home’s closing could delay others from closing, too. Now imagine how much more complicated this could become if there is an error that retriggers the three-day TRID waiting period. Everyone will be scrambling to handle late closings — not just for one day, but for at least three days or more. If this happens, >>>Read more BrevardElite.com
*AUTO *HOME *LIFE *BUSINESS www.SuntreeInsurance.com
Paul McDonough
3199 Suntree Blvd., Suite 2 Rockledge, FL 32955 Phone: 622.5333 Fax: 622.5336
Vynn Pechart
2014 Awards Luncheon and Celebrating another AWESOME First Quarter - 2015 Tuesday April 14th 12 – 2pm Details to follow
Smart Air Conditioner Maintenance Tips Fight the rising cost of staying cool with these handy tips for keeping your air conditioning running efficiently this summer. Basic tips to keep your air conditioner running right. Keep your air conditioner running at top efficiency and help avoid the need for air conditioning service that Requires R22 refrigerant. Tip 1: Check your system in advance. About a month before the weather heats up, turn on your air conditioning and let it run for 30 minutes to see if it is working properly. Tip 2: Keep the area around your unit clean. Sweep away any dirt, leaves or debris that may have accumulated around your air conditioning unit. Also, trim back any plants or shrubs to allow proper air flow. Tip 3: Check for bent condenser fins. If any of the fins on your unit’s condenser are bent, you can straighten them out using a tool called a fin comb, available at major hardware stores. Be sure to turn off the power to the unit before inspecting or straightening the condenser fins. Refrigerant phase out. The Environmental Protection Agency has required manufacturers to completely phase out the production of R22 by 2020. As a result, supplies have become more limited, and the price has risen from less than $10 per pound in 2010 to over $50 per pound, and more in some cases, today. Even simple air conditioning repairs may cost significantly more as a result. Technicians commonly add 1-2 pounds of refrigerant on a routine service call. A more complicated repair or replacement can require up to 10 pounds. As you can see, the cost can add up quickly.
Kim Osman Insurance Group, Inc. 474 N Harbor City Blvd, Suite 4 Melbourne, Fl 32935
Pete Osman
posman1@kimosmanins.com
Call Today! 321.549.0678
Kim Osman
kosman1@kimosmanins.com Find out why It's Always A Great Day at the Kim Osman Agency
Take your business to new heights with
Agent Development Schedule your one-on-one 30 minute consultation with Susan Lewis please call 321-775-8110 Susan will be placing an emphasis on consulting, training and accountability. "Our first consultation focused on developing my action plan for areas I want to improve on for 2015. We covered Farming, FSBO's, Personal Marketing Promotions and effectively using Social Media so I'm not wasting my time. We picked up where we left off in our follow up session and reviewed progress on activities. We also talked scripts/dialogues for "problem" customers. My mindset is in action mode and Susan is helping me stay accountable towards my goals.“ ~ Barb Mihalik "Our meeting with Susan was well worth the time
we spent with her. She opened our eyes to the simple things that we knew we should be doing, but just don't ever seem to find the time to get it done. She gave us some great ideas that we plan on implementing into our 2015 business plan. Thank you Susan for the great one-on-one time!" ~ Lou Ann Janke We promised to never stop looking at ways to improve as a company no matter how successful we become.
April Training Calendar
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Luxury Homes Mastermind Group We will discuss best business practices to assist you to get out there and get more “ high end deals done. On Thursday, April 16th at the Suntree Training Center 9:00 – 10 am
AS IS Contract Do’s and Don’ts with real estate attorney Michael Dujovne On Tuesday, April 21st at the Suntree Training Center 9:00 – 11 am
Impress your clients with the over 2,000 designs available in YOUR RE/MAX Design Center On Tuesday, April 29th at the Suntree Training Center 12:00 – 1:30 pm RSVP Susan Lewis at: Susan.BrevardElite@gmail.com BrevardElite.com
RELAY FOR LIFE is a fundraising walk made up of teams. Our team is Team RE/MAX Elite. You can walk for 10 minutes or 2 hours. The sign up sheet is located at the front desk of all RE/MAX Elite offices. Date: April 10th Time: 4 PM to 11:30 PM Where: Eau Gallie High School
If you haven’t donated yet there’s still time:
Click to donate
We need donations!! Ask your neighbors, friends, family, church group anyone and everyone. Pocket change adds up, no amount is too small.
Family and friends are welcome to join us. If you have any questions please contact Ronda Chandler at: ronda.brevardelite@gmail.com Sorry no pets.
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Color Commentary: What’s the Best Hue for Selling? Start outside While interiors are important, the exterior is the first thing buyers will see (especially if they’re just driving by your home). “Be sure your front door, mailbox post, porch, or deck are freshly painted or stained — if the outside of your house looks weather-beaten or if there’s any sign of mold growing on the clapboards, paint the exterior too,” says Bessie Zevgaras, a broker sales associate for Coldwell Banker in Fort Lee, NJ. When choosing an exterior hue, use your neighborhood as your guide. If you live among a sea of gray and taupe facades, red probably isn’t your best bet. While it’s tempting to want to choose a color that will make your home stand out from the pack, it’s also important to consider how it will measure up against nearby properties. Make it monochromatic Stick to a single all-over neutral in your main rooms, but it’s OK to expand beyond cream or taupe. Try a warm gray like Sherwin-Williams 7029 “Agreeable Grey” or, if you have a lot of earth tones in your décor, Sherwin-Williams 6148 “Wool Skein,” says Killam. “It’s easier for buyers to visualize their furniture in your house if they are not influenced by a lot of busy, dark colors.” Plus, light, neutral colors “look smashing in online photographs, which is the first place people check when searching for homes,” adds Zevgaras. Rely on white in the kitchen “White cabinets are the best and most timeless color for kitchens,” says Killam. “It’s much harder to know when a kitchen was installed if it’s white, which is great for resale.” Unsure which blanc to buy? Go for a classic: Benjamin Moore OC-117 “Simply White” is an excellent choice. Paint your bedroom blue “There’s something calming and relaxing about blue bedrooms, and they look great with white bedding if you don’t want to commit to a new duvet cover,” says Killam. If you’re ready to take the plunge, two winning shades are Sherwin-Williams 6204 “Sea Salt” or 6232 “Misty.” Keep your bathrooms bright If they’re white or cream, leave them, but if the bathrooms in your home are already a fun color, there’s no need to repaint — this is the one place that people expect (and forgive) a little personality. Just be sure to avoid the contrast wall (painting one wall a dark color) in any room, advises Killam, which can make a space feel small. BrevardElite.com
Easter Fun Facts Egg dyes were once made out of natural items such as onion peels, tree bark, flower petals, and juices
The first story of a rabbit hiding eggs in a garden was published in 1680
More than 16 million jelly beans are eaten on Easter
Americans spend $1.9 billion on Easter candy. The second biggest candy holiday after Halloween
Approx. 90 million chocolate bunnies are sold at Easter The first Easter baskets looked like bird's nests
76% of Americans think the ears of a chocolate bunny should be the first to be eaten
70% of Easter candy purchased is chocolate
Wearing new clothing on Easter is said to bring good luck for the coming year
Decorating Easter eggs was traditionally a symbol of the empty tomb. This tradition is called Pysanka. Christians believe that Easter eggs symbolize new life and resurrection
“The White House Easter Egg Roll� event has been celebrated by the President of the United States and their families since 1878
Easter is the oldest Christian holiday
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www.rdibella.metlife.com 321.610.9934 321.255.1480 rdibella@metlife.com
Condo financing now available with 3% down! Did you know that condo financing is now readily available? The amount the buyer will be able to finance depends on several factors. The most important factor will be regarding the financial status of the Home Owner’s Association. If the HOA is in good financial shape the buyer will probably be able to obtain financing with as little as 3% down (owner occupied) or 10% down (second home). Most HOA’s are in much better shape than they were a few years ago; the couple of things that can prevent a buyer from getting a 95% loan include: •More than 15% of the units being delinquent by 60 days or more. •Pending litigation (such as major structural lawsuits). •Insufficient cash reserves or lack of fidelity bond insurance. If the condo does not qualify (according to Fannie Mae’s guidelines) we also offer a “streamlined” condo approval. This allows a buyer to obtain condo financing even if the HOA does not meet Fannie Mae’s guidelines. The buyer can obtain 75% loan to value financing if it is owner occupied, or 70% loan to value if it is a 2nd home. Most condos in Brevard County are not FHA/VA eligible as the Home Owner’s Associations have not obtained project approval. There are a few condos that FHA and VA will finance; you can check www.fha.gov or www.va.gov and look up approved Brevard County Condominiums. Finally keep in mind that if the property is a townhome (does not state condominium anywhere in the legal description) we will finance that property as if it was a single family home; FHA, VA and Conventional financing is readily available for townhomes. Please contact one of our loan officers for assistance with any condominium you are listing or selling; we will be happy to assist you!
Bobbie Dyer Division President 321-215-4419 bdyer@dyermtg.com
www.dyermortgagegroup.com BrevardElite.com
Do you think people are Jerks? Or Being jerks? Change that reflection in the mirror.
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The Myth of 20% Down Payment When Buying Your Home FHA - Federal Housing Administration FHA loans have been popular with buyers for almost 80 years since they launched in 1934. Requiring a scant 3.5% down and boasting some of the best “2nd Chance” underwriting guidelines available in 2015, FHA continues to be a mortgage financing mainstay. VA - Veterans Department Introduced as a reward and incentive for service to our country; VA mortgage financing has also served America. In 2012, the Department of Veterans Affairs announced it has guaranteed $20 million in home loans since its home loan program was established in 1944 as part of the original GI Bill of Rights for returning World War II Veterans. To be eligible for a VA loan, you must have served in the U.S. Armed Forces, or have been a member of the National Guard or Reserves. In some cases, spouses of deceased veterans are eligible as well. VA underwriting is very similar to FHA underwriting in terms of leniency. USDA - US Department of Agriculture Dubbed the “Farmer’s Loan” and funded by the USDA, the United States Department of Agriculture, this rural housing incentive is available to much of small town America. Offering a low interest, low down payment mortgage option for low to middle income families, USDA financing can present one of the best mortgage bargains available in the market. There are geographic requirements for the property itself, and a lender can definitely help you figure out if your dream home qualifies for this program. The USDA program is commonly used in towns with a population of 25,000 or less. (New) Conventional 3% Down Program The once dormant Fannie Mae 97% loan-to-value program has arisen from the ashes as of December 2014. Thankfully, the Federal Housing Finance Authority (FHFA) who controls Fannie and Freddie, realized that many Millennials were staying on the home buying bench due to lack of assets. They also found FHA financing pricer than they prefer and lacked a reasonable conventional mortgage alternative. As it happens young people in the Millennial demographic had a hard time saving during the Great Recession. Being under-employed and under-paid makes it difficult to save thousands to put towards a down payment. It does not, however, indicate that savings-challenged Millennials are a greater credit risk. In fact, many have impeccable credit that often works in combination with upward job mobility potential to make them a very low credit risk. >>>>Read more
Are YOU Overwhelmed, Overburdened, Maxed out, Bogged down, or just plain ole tuckered out? The Elite Transaction Management Department can help!! An agent averages 19 hours of their time on a transaction from contract to closing. We are giving you back most of that time, so that you can focus on activities that drive in more income for your business! We have established exclusive pricing for these services and you only pay at closing.
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Dick Blodin 321-544-1317 Email: rblodin@cfl.rr.com www.CloudViewAerial.com
Give us a call today! 321-698-5370 Florida License # HI 8266 Melbourne & Surrounding Areas BrevardElite.com
Do you know that YOUR Design Center with Mainstreet has over 2,000 ways to impress YOUR clients? Check out our April Calendar for the next class on creating projects with Design Center!
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Contact: Kelly Cox 321.751.8711 Pillartopost.com
• Leader in our industry in home inspections • Comprehensive & Accurate Reports
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We at H.I.P. Construction are dedicated to creating an organizational culture that encourages honesty, integrity, and professionalism by adopting and enforcing the following practices: 1.
Emphasize, through staff training, that the organization expects its employees to be honest, have a sense of integrity, and behave professionally. Convey these same expectations to vendors, consultants, volunteers, and anyone else who performs paid or unpaid work for the organization.
2.
Explicitly require "honesty, integrity, and professionalism" in all job descriptions, staff contracts, volunteer policies, performance evaluations, and labor agreements.
3.
Inform employees, contractors, and the general public of established policies, procedures, and expectations regarding honesty, integrity, and professionalism.
4.
Commend and reinforce behavior that exemplifies high ethical expectations.
5.
Never tolerate dishonest, corrupt, or unprincipled behavior in the workplace, regardless of job type or level of authority.
Get started with your FREE estimate today! 321.775.8212
jason@trusthip.com
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Gardening
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HEATHER’S Page #1 RE/MAX Team and #1 RE/MAX Agent
From ARMs to PMI, 10 Terms You Should Know Adjustable-Rate Mortgage (ARM) – A type of mortgage with an interest rate that adjusts after an initial period of time – typically 3, 5, or 7 years – and resets periodically. ARMs usually give you lower monthly payments at the outset, but over time your payments will rise with interest rates Annual Percentage Rate (APR) – The annual rate it costs you to borrow over the term of the loan, including the interest rate, points, fees and certain other credit charges you are required to pay. The APR is the bottom-line number you can use to shop and compare rates among lenders. Appraisal – An analysis performed by a qualified appraisal professional who estimates the value of a property by taking current market values of similar homes and the quality of the home into account. Closing – The last step of the real estate transaction when you sign the final mortgage documents, receive title to the house, and pay all closing costs. After a successful closing, you have a new house to call home. Credit Score – A three-digit number – ranging from 350 to 850 – that represents and summarizes information from your credit report, indicating your likeliness to repay your debt. Your credit score plays a significant role in getting approved for a loan and the interest rate you are charged – the higher your score the better. Equity – The difference between how much your home is worth and how much you owe on your home. If you owe $100,000 on your house but it is worth $130,000, you have $30,000 of equity. Fixed-Rate Mortgage – A mortgage with an interest rate that does not change during the entire term of your loan. This is the most common type of mortgage, giving you certainty and stability over the life of the loan HUD-1 – A standard form used by your settlement agent, or closing agent, that itemizes all services and fees charged to you by the lender when purchasing or refinancing your home. Later this year, the Consumer Financial Protection Bureau's new Closing Disclosure form will replace the HUD-1 for most loans. Points – Sometimes called discount points, these are up-front payments typically used to reduce your mortgage interest rate on the loan and obtain a lower monthly payment. A point is 1% of your loan amount, or $1,000 on a $100,000 loan. Is there a "point" in paying points? Private Mortgage Insurance (PMI) – A monthly premium required by your lender if your down payment is less than 20%, protecting the lender if you are unable to pay your mortgage. (for more information click here)
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2015 Awards Recognition
Steve Vitani
Brad Kuhns
Bridget Sentz Jennifer McCoy & Bobby Freeman
Carolyn Smith
Andy Barclay
Silvia Mozer
Steve Romano
Mary Gowenlock BrevardElite.com
Veteran-owned company Established 2000 Happyhomeinspection.com
Work Smarter. Smart-Targeting focuses you on the homes most likely to sell.
Website: www.smartzip.com BrevardElite.com
The True Value of Real Estate Agents Today’s technology has permeated every aspect of our lives and brought forth significant changes beyond most of our imaginations. What does this mean for us in real estate? First, we can now access information faster than ever before. At the same time, the public has also gained much of that same access. People can sit down anywhere and view homes around the world. They can tour properties without even leaving their lounge chair. They can view neighborhoods from a satellite. It may also seem that the public’s knowledge of real estate, the marketplace and other industry programs has made it much easier for them to buy and sell their own homes. This is not completely true. As history has shown, “Confusion occurs when people have too RE/MAX Owner,Richard Ardia many choices!” Real estate professionals know that not everything about a home and neighborhood can be learned from photos or satellite or street views. In fact, it can be argued that the process of actually finding a home has actually become more difficult. In many respects, buyers have a harder time because they have access to huge chunks of partial information and way too many choices. Today, real estate agents are needed more than ever to provide practical balance to all the information that technology provides. If looking at homes on the Internet makes it so much easier, more sales should be taking place with less agent help – and that is not the case. In fact, agent-assisted transactions have increased over the past five years. There are far less FSBOs now compared to when the market was soaring in the mid 2000s. Millennials, in particular, recognize they need help from Realtors to get their first home. This is all good news for real estate professionals; however, we must make key adjustments if we are going to work successfully with younger generations of homebuyers. First, agents must not rely solely on the Internet for their market knowledge. You must get out of the office and see, with your own eyes, the homes in your market. If a couple walked into your office and asked about homes in a certain price range, are you able to direct them to the best values? >>>Read more BrevardElite.com
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Our Property Management Division Your clients can fill out their credit application and pay online. It’s easy and menu driven. If you have any questions please call Sheryl at 321-863-7824 (cell) or 321-775-8122 (office).
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