The Gellman Team – 100 Million + in Real Estate

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Mark & Neil Gellman

How does the Gellman Team sell over 100 Million in Real Estate every year?  It doesn’t happen by accident.  Listen in as Mark Gellman tells the details of how he carefully selects team members.

To contact the Gellman Team, visit their website www.TheGellmanTeam.com or call 314-336-1991.

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FHA Loosens Condo Requirements

condoCondos, which are often popular housing options for many younger and first-time homebuyers, are also viable living arrangements for older homeowners who seek a more active and urban lifestyle, or a more maintenance-free quality of life. Current blanket certification policies, however, have restricted not only many would-be buyers from purchasing condo units, but have also hindered the ability of seniors to continue living in these housing developments.
FHA has historically set standards for condominium project approvals.  The good news is they have loosened some of those rules for investors and private owners.
You can do that at this following link:
 To see the actual proposal follow this link:

8 Red Flags On A Seller Disclosure

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8 Red Flags On A Seller Disclosure

Buying a home is a little like falling in love. When you first start dating, you’re smitten. Which also means you’re more likely to overlook some critical flaws that might otherwise slowly crack away at your relationship down the road, potentially leading to heartbreak. Such is the case when buying a home.

1. Notes or lack of details about the roof

It’s not a hard and fast rule that you should dig deeper into what a seller or inspector means when they say “small roof leak” or “a few roof tiles missing.”  You may want to have a professional roofer come take a look before buying.

2.  Any structure-related items

So if you’re faced with exterior wall cracks, sagging rooflines, or significant cracks in the foundation, and your inspector points them out or the seller mentions them in the seller disclosure form, seek guidance from your real estate agent and seriously think of having an industry specialist take a look at the potential problem.

3.  The dreaded “no representation” or “unknown”

It’s not necessarily a sign to run away from a home, but if a seller marks an item such as the basement or windows on the seller disclosure statement as “no representation”.  Then you’ll most definitely want an inspector to look more closely at that area.

What does it mean? Sellers can opt to put “no representation” on an area of the home in their statement to avoid disclosing the conditions or characteristics of an area of the property, even if they know of issues. It’s sneaky, but it can protect the seller from potential litigation from the buyer down the road.

4.  Mentions of previous flood damage

Flood damage can wreak havoc on a home’s foundation and cause mold issues, among other things. That’s why when you see a seller disclose that the home has had flood damage, no matter how small, the advises is to be wary.  If your inspection comes back with dampness or strong odor you may want to call in a mold specialist.

5.  Any liens on the property

Issues regarding liens when a legal right to the property is held by a creditor or some other party aside from the seller should pop up during the title search. Be extra leery if a seller discloses one in their statement.

Be sure to consult your title company, real estate attorney, and the agent representing the other side to get clarity around the issue and time frames it could take to clear the title. In our experience, liens can be removed, but it typically takes twice as long as anticipated, and a buyer should be prepared for delays

6.  Any easements or land-use restrictions

If you buy a home planning to build an addition or make major renovations, you may discover after the sale closes that existing easements on the property forbid adding permanent structures in the exact spot you were hoping to make your new master suite.  Easements and land restrictions can affect the value of a property.

A buyer should get a title report giving a detailed description of the easement. In addition, a survey would be prudent to identify landmarks, how it affects the property, and if it is of no harm or affects the future marketability or value of the property.

7.  Failure to get proper permits for additions or improvements

Heed this warning, friends: Failure to get permits is a huge red flag!

Without permits, a buyer has no idea if the work was completed by inexperienced and unqualified homeowners or a true craftsman. In these scenarios, we recommend a thorough home inspection by a licensed home inspector of the work completed. In addition, a thorough review of seller’s disclosures to understand with clarity the scope of work completed.

8.  Lead paint or asbestos

Don’t automatically rule out buying a home if a seller discloses that the home has (or had) asbestos or lead-based paint.

It is better to be cautious and do your homework before correcting, removing, or remodeling these types of homes, though. Talk to your local home inspector about evaluating and testing the property.  Review your local health department requirements. Once you know the safe measurements in your area, you can do the proper testing for these items. Don’t forget to learn how to properly dispose of these items safely. By knowing the costs and health regulations, you can factor in the cost of removal or remediation and factor that into your offers.

Villa Market Heats Up on Rue De Gascony

If a maintenance free lifestyle appeals to you, check out the incredible new villa development hitting the market in Town & Country!

Open House Dates: Tuesday Nov 1, 11am-1pm & Sunday Nov 6th 1-3pm

14418 Rue De Gascony – 800-284-0314 ext 7985

Villa 1
14418 Rue De Gascony

14422 Rue De Gascony – 800-284-0314 ext 7405

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14422 Rue De Gascony

Click here to see financing options:  Financing Options

Listen in as Mark Gellman from the Gellman Team and Scott Hendel from ST Evans Construction tell why location, location, location make these villas perfect for YOU!

Promises and Price Tags

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Promises and Price Tags” is a comprehensive fiscal analysis of the policies put forward by presidential candidates Donald Trump and Hillary Clinton. The full report is available as a printer-friendly PDF (57 pp.), and the Chartbook can be viewed here.

Executive Summary

The next president will enter office with the national debt at post-World War II record high levels.  Debt held by the public currently totals over $14 trillion.  This is nearly 77 percent of Gross Domestic Product (GDP).  The debt is projected to grow as a share of the economy to almost 86 percent by 2026 and about 150 percent by 2050.  Our growing national debt threatens to slow economic growth and is ultimately unsustainable. Yet neither presidential candidate has a plan to address it.

This growing debt is largely the result of rising entitlement spending and growing interest costs. Social Security, federal health spending, and interest costs are projected to be responsible for over four-fifths of spending growth over the next decade.  Keep in mind that the interest being the fastest growing area of the budget.

Ever-rising levels of debt are unsustainable. Which means that at some point policymakers will need to slow spending growth, increase revenue, or do both. The national discussion surrounding and the political promises made during the 2016 election can lay the foundation for necessary changes in fiscal policy.

Encouragingly, both of the major parties’ presumptive presidential nominees have highlighted the need for fiscal responsibility on the campaign trail. Unfortunately, to date neither former Secretary of State Hillary Clinton nor businessman Donald Trump has put forward a plan to address the national debt.

To see the entire guide follow this link:

http://crfb.org/papers/promises-and-price-tags-fiscal-guide-2016-election

Interactive Tools

Our most popular tool lets you make the tough choices to solve our country’s debt problem. See if you can come up with a solution to reduce the debt to 60 percent of GDP by 2021

Think you could secure the future of Social Security? This tool allows you to select revenue and benefit changes to stabilize Social Security and make it sustainable for the next generation.

To see all the interactive tools to fix the debt for our country follow this link:  http://crfb.org/interactive-tools

Improving Your Financial Freedom

personal-financeImproving Your Personal  Financial Freedom

Improving your personal finances may seem impossible and being in debt can be a stressful experience. No matter what your circumstance is, if you signed for a loan, you are obligated to pay it back.  If you have a life altering experience like losing a job, getting into an accident, or even if you have increased expenses due to having a child you are still expected to pay.

Sometimes debt can just be an unintended consequence of too much holiday spending.  It can also just be overspending any time of year and just not tracking your purchases.  Many people try to get out of debt, but life slaps them in the face hard enough that they give up. But that doesn’t have to be the case. There are so many people who are getting out of debt every single day in a short period of time.

So if you’re ready to get on a path to financial freedom, it’s important to have a plan for how you’re going to tackle that debt!

Continue reading “Improving Your Financial Freedom”

Why Your Score May Have Dropped

credit-score-14 Surprising Reasons Why Your Scores Might Have Dropped

By ANNA TRINH

You’re on top of your finances — your payment history is flawless, you keep your utilization below 30 percent and your accounts are in good standing.

However, when you log in to receive your eagerly awaited score update, you see that your score has dropped – even though you can’t think of any negative changes you’ve made.

It can be disheartening to see your score go down when you’ve been working hard to keep your finances in order. So, what’s up? Here are four surprising reasons why your score might’ve changed.

Continue reading “Why Your Score May Have Dropped”

Detox Your Spending

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Summer spending is one of the highest moments of our financial yearly budget.  It is filled with vacations, extra food because the kids are home, daycare expense increases, parties, events and more.

What is a financial cleanse?

A financial cleanse is similar to a diet. After overindulging in too many sweet treats or fast food meals, you might reset your habits by eating healthy and working out. Under a financial cleanse, you work toward replacing some of the spending habits that may have gotten out of hand in the summer with mindful spending and saving. Here are some tips to get started.

Continue reading “Detox Your Spending”

Tips To Make Your Finances Less Frustrating

man-frustratedHave you had a similarly frustrating experience when paying your bills or managing your finances? As part of National Moment of Frustration Day on Oct. 12, we’re sharing five things you can do to make managing your finances easier.

1. Automate your finances to minimize late payments.

Through auto-pay, you can rest easy knowing that your payments will be automatically charged to your credit card and you can avoid late payments.

2. Put due dates in your calendar.

If you’re like me, if something isn’t in your calendar, it doesn’t exist. I’ve found that putting reminders in my calendar helps me stay on top of my payment due dates, especially for bills that I can’t automate, and paydays.

Consider putting recurring reminders in your calendar (digital or physical) for the following:

  • Your rent is due.
  • Credit card payments are due.
  • When you get paid from your employer.
  • Netflix, internet, gas and electricity bills are due.
  • How about when health insurance, renters insurance and other insurance bills are due.

3. Sign up for text or email reminders.

If you don’t want to manually put reminders into your calendar, you can check with your credit card company, mortgage servicer, auto loan servicer and/or student loan servicer about getting alerts for your due dates.

4. Enroll in credit monitoring.

Your credit score and credit report are important parts of your financial life. But keeping tabs on them may seem inconvenient or time-consuming. One way to make the process less frustrating is to enroll in credit monitoring.

Credit monitoring services can notify you if things on your credit report look suspicious, which could be signs of identity theft. 

Additionally, these services can help you stay on top of your credit scores and reports and have a better understanding of the underlying influences that ultimately affect your credit.

5. Download a savings app to take the legwork out of saving.

If you find it difficult to save, you can download a savings app such as Digit to help you save effortlessly.

Digit looks over your accounts and, through its software, analyzes what you can put in a savings account. It then automatically transfers money from your checking account into a Digit savings account.

Some users love how easy it is to save, while others aren’t impressed by the fact that the savings account doesn’t earn interest.

If you want to earn interest and make saving easier, one option is SmartyPig, an online piggy bank that currently earns 0.75 percent annual percentage yield (APY).

If you’re interested in small-scale investing, you can use an app such as Acorns. Acorns rounds your purchases to the nearest dollar and invests your spare change.

Bottom line

Being an adult, paying bills and managing your money can be frustrating; there’s always one more thing to keep track of or one more bill to pay.

While managing your finances can be a frustrating process, these five tips can make things a bit easier.

Mike Rowe On The Right To Vote

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