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June 24, 2005
Get Reports on St Louis School Buildings
Want to know how St. Louis area public and private schools compare and rate against each other? Well now you can do just that right here on STLagent.com.
Last winter I subscribed to a service for this website so anyone could search through St Louis area schools and see the district and buildings rankings and reviews. Naturally I lost the link that allowed us to place it on the website until just now. (yeah, I'm a lousy webmaster... Sorry). HOWEVER AS OF TODAY IT IS NOW ACTIVE.
If you look on the right blue side bar of the website and scroll down, you will see an ad with a yellow sign that says, "Top Rated School Reports FREE". Click on it. There is NO sign up required to use this service, and it's mostly free of advertising.
This service will give you all kinds of reports and information on both public and private school districts and buildings throughout the entire USA (not just St Louis).
With this service you can find out buildings results on standardized test scores, student to teacher ratios, read parent reviews, etc. More important, you can compare school buildings to each other. If you are thinking about moving and the quality of a school is important to you, this service should be a nice tool to use.
Let us know what you think of this service. Is it useful to you? Have you seen something better somewhere else? Since we're paying a yearly fee to have this service on our website, it's useful to know if it's a benefit or not.
Just an update from your friendly neighborhood webmaster.
Thanks
Sid
Posted by at 09:57 PM
June 22, 2005
Where has the STLagent Blog gone
No, we have not given up on our blogging. We are, however, in the middle of a painful blog software upgrade and it appears we might not be able to transfer our older blogs- so we've temporarily stopped writing. Hopefully we'll be writing again soon.
Posted by at 12:00 AM
June 10, 2005
14 Month Low for 30 Year Mortgages
The Associated Press this week announced that rates on 30-year mortgages fell to their lowest point since the spring of 2004. 30-year fixed-rate mortgages were down to an averaged 5.56 percent, stated loan giant Freddie Mac.
Experts say the rate drops are tied to last week's weak jobs report, but should continue to keep real estate sales on their current strong clip.
For more information, read the AP article on STLtoday.com here:
http://www.stltoday.com/stltoday/realestate/stories.nsf
/story/0B0359CEF9D33B858625701C00014DBE?OpenDocument
On the Web:
Freddie Mac: http://www.freddiemac.com
Posted by at 11:58 PM
June 07, 2005
Using Good Etiquette when Looking at Homes
There was an article on STLtoday.com that I wanted to pass on. It's titled, "Home buyers: Do not disturb home seller without an agent," by Dian Hymer.
It can be found here:
http://www.stltoday.com/stltoday/realestate/columnists.nsf/
dianhymer/story/032F9E312021A6E086257019003ABFB5?OpenDocument
Although I got a few laughs out of it, I hesitate to use the word "funny" to describe the article because I have a few of these stories of my own (unfortunately).
Yes, real estate can be an ugly business, and as I read Dian's article I couldn't help but to wonder if every example she used happened to be her own! Since I've written several blogs talking about the extensive steps sellers need to take to get their home sold, I think it's high time to turn the table on the buyers and their agents.
When the article mentioned the seller who was upset at people walking around her backyard without permission (which I’ve had happen myself), I couldn’t help but to think about one thing. TRESPASSING! Just because there is a for sale sign in the yard doesn’t mean its open game to poke around. That home is still private property, and your appointment is your invitation to walk around (even if it’s a FSBO, new construction, whatever). Without that invitation, those people in the back yard were technically breaking the law.
And before you try to rationalize the behavior, think about the buyer. You know NOTHING about them. There is the distinct possibility that the seller is crazy or at that moment drunk or on drugs. I know that sounds funny, but I’ve met some pretty strange people over the years and you never know when the seller could be a gun nut high on heroin. More important, what if the adults aren’t home; but their young children are? A stranger walking around the backyard unannounced is not only scary, but one call to the police from a frightened child could have you handcuffed in the back of squad car. The same goes for an elderly seller or even a single woman. What might be curiosity to you might be a safety or security issue to someone else.
Also, keep in mind that appointments aren’t required simply so a seller can clean up before you get there. There may be pets that need caged- pets that can bite or attack a stranger walking around in THEIR yard. In the case of new construction or a rehab project, there could be dangers that require you to be supervised to visit (and insurance companies can be quite inflexible on this point).
Unfortunately there is also bad behavior on the part of agents. Recently, I got a phone call at 8:00pm on a Friday night. It was an agent. She had printed out the listings she wanted to show her clients, but didn’t make appointments in advance. So there she was with her clients in her car parked in the driveway of one of my listings. Despite the fact that the listing clearly stated a two hour notice to show (which the client had requested), she was calling to see if she could just walk in (and was quite upset when I refused her entry after making her set in the driveway for 10 minutes while I attempted to call the seller to get permission). Although I harp to my sellers that they need to be flexible to the needs of potential buyers, at 8:00pm on a Friday night I had no way of knowing if my young single male client (whom I couldn’t reach) had his house ready to show.
Most buyers are willing to bend over backwards to get their home sold. But please, don’t make assumptions- because they could be wrong!
Posted by at 11:58 PM
June 03, 2005
The Safety of Your Home when You Open it Up to Buyers
I just read a pair of article by David Lazarus from the San Francisco Chronicle on the dangers of virtual tours, open houses, etc. They can be found here:
http://sfgate.com/cgi-bin/article.cgi?file=/c/a/2005/05/27/BUGLHCVL1K1.DTL
http://sfgate.com/cgi-bin/article.cgi?f=/c/a/2005/06/03/BUGF9D2MK51.DTL
The articles bring up some valid points to think about if you are contemplating selling your home. Unfortunately, the articles also rush to the conclusion that open houses and virtual tours are a thief’s best friend and agents who suggest you do them are just out for the fast buck. This despite the fact that the police Mr. Lazarus interviewed said they seldom get open house burglary complaints. For the record, I googled San Francisco’s crime statistics and found that the SF police department gets OVER 500 burglary cases reported a month! (See: http://www.sfgov.org/ ). As such, I just don’t see how the reporter can seriously call something a “Boon for Burglars” when the latest example he has is six months (and 3,000 cases) old and the police say they can only remember a guy six or seven years ago who used to specialize in doing it?
However I’m not writing this article to discredit Mr. Lazarus. Indeed, I believe security is a serious issue to be considered when selling your home. I’m just disappointed because a seasoned reporter from a large, well respected newspaper could have written a great article interviewing safety experts and discussion SOLUTIONS a seller could take to safeguard themselves from such a crime (i.e. doing his readers a service). Instead the reporter took the cheap route to sensationalism by playing upon the FUD factor (Fear, Uncertainty and Doubt).
The reason this is an issue at all is because of one key fact: If people don’t see your home, odds are in favor they won’t buy it. There really isn’t a way around this fact because very few buyers buy homes sight unseen (generally those that do are looking to bulldoze your home as soon as you are gone!). For that reason, when you want to sell your home you really have no choice but to open it up to people you don’t know. Like it or not, when you open your home up to prospective home buyers you also open it up to the public at large who may be pretending to be a home buyer so they can be nosey, curious, or worse.
The solution to this problem is to just use a whole lot of common sense. In my mind, the mark of a good agent is someone who will walk through the home with the client and discuss how to “stage” the home well before the home is ever listed. (I discussed this topic in February, see: “Your Basement Smells Like Urine Part III” at http://www.stlagent.com/blog/00000038.html).
You see, the stuff people want to steal generally brings with it a second problem- it’s distracting. The average buyer only spends a few minutes in a home before they head out to the next one. That’s why you want your prospective buyers looking at the home and the home’s unique selling features- not the stuff in it.
A good recommendation is to pre-pack anything that is distracting, eye catching, breakable, or valuable- leaving nothing out in the open that you wouldn’t let a group of small children or pack of dingoes be around. I personally recommend PODS- Portable On-Demand Storage- because the POD gets dropped off and gives you the seller time to pack the stuff on your own time table. Plus, the POS can be delivered weeks or months later to the new home whenever it’s convenient to be unpacked (unlike a traditional move where the stuff is setting around in nice, easy to cart off boxes waiting for a truck to arrive on moving day). It also allows you to clear out clutter or excessive furniture that may make your house look small.
There are also solutions to securing valuables in a home that can’t be packed up (watches, jewelry, money, etc). There are companies that make shaving cream cans, books, Coke cans, etc that are really decoy safes (see: http://www.safetycentral.com/cansafes.html or do a Google search on “decoy can safes”. Just make sure the safe you are buying is appropriate for the room you are hiding it in (i.e. no shaving cream in the kitchen). Another more traditional solution would be bank safe deposit boxes or just flat out hauling stuff to a trusted neighbor or family member’s home until the house is sold. The key is, if someone is taking the trouble to case your home and they don’t see anything worth while to steal, your chances they will come back are greatly diminished.
Realize also that the Average Joe who gets a case of sticky fingers when they see that $20 setting out on your nightstand is as big of a threat to worry about as the professional thief. When you list your home for sale you start your life in a “fishbowl.” That means taking a few minutes every morning to secure things prior to leaving the house just in case you have a showing that day. Again, what they can’t see, they can’t take.
The next step is securing the home. If you are about to sell your home, odds are in favor that your future buyer’s building inspection will catch the broken door locks and windows that don’t latch and make you fix them (or pay to have them fixed) prior to closing. So why not take the time to fix them prior to selling so they don’t tempt a potential burglar looking for an easy target? This should also help protect you from the amateur thieves that may lurk in your own neighborhood. Also look for simple, cheap solutions that might provide a little extra protection- like a brace to lock a sliding glass door from being forced open. If you have a lot of computer or electronic equipment, there are locks and chains that tether your equipment to the furniture that are relatively inexpensive (see: http://www.kensington.com/ ).
Another thing to remember is when selling your home you often have your daily routine broken up- and that makes you vulnerable. It’s a lot like being on vacation. If your home is going to be setting empty while you are out of town looking for a new place to live, have a trusted friend or neighbor periodically check up on it. Also make sure the lawn gets mowed and stop mail and newspaper delivery. Nothing says, “No one’s home,” quite like two weeks worth of newspapers strewn across an unmowed lawn. You can also get timers for internal lights pretty inexpensive now.
Prior to moving is a great time to set down with your insurance agent and discuss homeowner’s insurance. If you are really worried about theft during the moving/selling process, then being properly insured during this time should help you sleep easier. Not all policies cover valuables if they leave the home either. Forget about theft for a second and ask yourself what happens if the moving truck is in a wreck or your in-laws garage burns down? Make sure your valuables are insured if they are in a moving truck, POD, storage shed, or someone else’s home. This may require a short term renter’s contract or other short term solution.
Moving time is also a great time to take inventory WITH A CAMERA! If you don’t own a camera, go buy a case of disposable ones. By taking photos or a video of your valuables prior to packing and moving, you have proof that an item wasn’t damaged before a mover touched it (should you have a problem later on). This will also help you identify missing items should your home actually be the one that gets broken into as well as provide proof to your insurance company so you can get reimbursed.
Lastly, when you start to prepare for the safety of your valuables, also consider the safety of you and your family. Personal effects can tell a stranger a lot about you- and your children. Those credit card and bank statements you have setting out on your desk could provide a goldmine to someone looking for an identity theft victim. Family photos hanging on the wall can tell strangers more about your family than you may feel comfortable having them know. I generally feel the less a buyer knows about a seller the better off the seller is.
Again, the goal here isn’t to make you afraid of selling your home- it’s to PREPARE you for it. Although the odds, based on the stats I’ve seen, are pretty low that theft would happen, preparing yourself properly will only reduce your chances.
Posted by at 11:46 PM
June 01, 2005
Deep Throat Says to Refinance
It’s not quite as earth shaking as this weeks news that Deep Throat has finally been revealed, but the continued downward spiral of mortgage rates the past few weeks could probably provide a much greater impact on your life if you’ve been thinking about refinancing or buying a home.
Yes, falling interest rates can hardly be called news anymore as they have declined seven of the past eight weeks and have spurred record home sales all around the country.
So, how low are rates right now? Generally, the folks who monitor rates are saying they're around a point lower than last year at this time (which we all thought was pretty low). But as every interest rate article I've read over the past year always points out, rates are expected to eventually start climbing by the end of 2005 (and the "experts" can only be wrong for so long you know).
As such if you've been thinking about refinancing or getting a home loan, do yourself a favor and consider getting the ball rolling while the rates are low. If you are refinancing, you may also want to think about refinancing your credit card debt to a lower (and potentially tax deductible) interest rate. The same might also apply to your car payment as well. The key is getting someone who is knowledgeable and trustworthy to help you determine what solution is right for you. As hard as it may be to believe, a good lender will want to make you happy in the hopes that you will work with them again or give them a referral- so be honest and open with them to see what they recommend doing.
This brings me to the topic of internet lenders. There are a lot of place out there you can get a loan from on-line and I’m sure many of them are good. However, I personally (and this is just my opinion) don't see a huge difference between the programs internet and out-of-state lenders are giving in comparison to what the local lenders are offering. Truth is, rates tend to be higher on the coasts, where many of the internet companies are located, than here in the Midwest.
The one thing to realize when working with any lender is that it's easy for them to give you a low rate when there are high processing fees, or low processing fees when the rate is high- i.e. a lot of companies play a shell game with financing, so make sure to read the fine print and know all your costs. Also, I strongly encourage you to shop around. Talk to three lenders- it’s a nice number. If someone is offering “too good to be true” programs, get things in writing. My experience is that the guy who “guarantees” you a low rate before he’s even runs your credit score is more than likely trying to “reel you in” and will make up for the low rate with processing fees. (At this time I should also point out that I’ve seen clients who have hurt themselves by talking to too many lenders. Be careful about having your credit score pulled by dozens of lenders because it can get your credit score lowered).
But back to the local guys… I personally hate working with out-of-town lenders. Why? Because things go wrong- that’s life. Imagine showing up to a Friday home closing with movers lined up to move you that weekend only to find out documents that were suppose to be Fed Ex’ed by the out-of-town lender didn’t make it off their receptionist’s desk the night before. When that happens, you don’t have a home to move into until Monday. Period. (fyi, faxing or e-mailing isn’t an option with legal documents). With a local lender, emergency documents can be couriered the same day- or for that matter, you can drive over yourself and get them. As my husband says, “if things go wrong, it’s good to be able to drive across town and wrap your fingers around someone’s neck!”
So, if you want my recommendations, below are the three primary lenders I work with (in no particular order). All have their necks located here in the St Louis area. Feel free to give one or all of them a call to see what they can do for you.
Russ Miller
Infinity Mortgage Funding
Phone: 314-439-9999
russ@infinitymortgage.us
Michael Hanrahan
Plaza Mortgage
Cellular: 314-518-3086
Email: mhanrahan@plazamortgagegroup.com
Elena Sordo-King
Pulaski Bank
Phone: 314 878-3523 x3034
esordoking@pulaskibankstl.com
Posted by at 11:48 PM
