Category Archives: Resources

Tips For A Smooth Loan Approval

check-markGetting a pre-approval is one step of the mortgage approval process. Having a smooth loan process depends partially on you.  As a potential homeowner you must remain responsible throughout the process. In the end only you can determine your future. Here are some tips to help you stay connected to your end goals.

  • DO continue making your mortgage or rent payments
  • DO stay current on all existing accounts
  • DO keep working at your current employer
  • DO keep your same insurance company
  • DO continue living at your current residence
  • DO call us if you have any questions
  • DON’T make a major purchase (car, boat, fur, jewelry, etc.)
  • DON’T apply for new credit (even if you seem pre-approved)
  • DON’T open a new credit card
  • DON’T transfer any balances from one account to another
  • DON’T deposit money into the bank that you can’t explain
  • DON’T pay off charge offs without a discussion with us first
  • DON’T pay off collections without a discussions with us first
  • DON’T buy any furniture
  • DON’T close any credit card accounts
  • DON’T change bank accounts
  • DON’T max out or over charge on you credit card accounts
  • DON’T consolidate your debt onto 1 or 2 credit cards
  • DON’T take out a new loan
  • DON’T start any home improvement projects
  • DON’T finance any elective medical procedure
  • DON’T open a new cellular phone account
  • DON’T join a new fitness club
  • DON’T pay off any loans or credit cards without discussing it with us

If you encounter a special situation, it is best to mention it to us right

away so we can help you determine the best way to achieve your goals.

Paint The Town Red With Keller Williams

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KW Cares/Southwest Cares

Keller Williams Realty St. Louis Southwest is Painting the Town Red with open houses on November 20 from 1-4pm while we collect can goods for for “Feed My People.” Contact us at 314-966-4700 for more details or check out: Paint The Town Red Open House

We will pick up or accept the donations at the open houses.

Special Offer:

Local home inspector, Erich Faulstich, from House to Homes Inspection, gives $1 off of a home inspection for each can of food donated.

About Feed My People

  • Feed My People was founded in 1982 by Carol and John DeGuire
  • Provides nearly $4 Million worth of food and other assistance each year.
  • Feed My People is supported by donations from individuals, schools, churches, businesses, foundations and community groups.
  • Feed My people has grown to an organization helping over 80,000 people each year.

About Keller Williams

Founded in 1983, Keller Williams Realty Inc. is an international real estate company with more than over 600 offices located across the U.S. and Canada. The company began franchising in 1991, and following years of phenomenal growth and success.  They became the fourth-largest U.S. residential real estate firm in North America in 2006. The company has succeeded by treating its associates as partners to a business of success.  Keller Williams shares its knowledge, policy control, and company profits on a system-wide basis.

Why Use a KW associate?
Because Keller Williams Realty St. Louis SW has grown from the ground up within St. Louis, our agents have unparalleled knowledge of our local real estate market and a deep appreciation for our community. Buying or selling a home does not have to be a stressful process – let us be your guide.

Our Difference:

Knowledge
Powerful curriculum through Keller Williams University keeps our associates ahead of trends, tools and advancements in the real estate industry.

Teamwork
Unlike other real estate companies, Keller Williams Realty was designed to reward agents for working together, to serve our clients better.

Reliability
Keller Williams Realty was founded on the principles of trust and honesty, emphasizing the importance of having the integrity to do the right thing and always putting our clients needs first.

Speed
Leading-edge technology solutions accelerate our associates efficiency and productivity.

Links:

https://www.facebook.com/KWSTLSW/?fref=ts

https://twitter.com/KWStlSouthwest

https://twitter.com/hashtag/paintthetownredstl?src=hash

Visit website for list of all open houses: http://kellerwilliamssouthwest.yourkwoffice.com/mcj/user/home.html

8 Red Flags On A Seller Disclosure

seller-disclosure

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.

Promises and Price Tags

2016-election

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

Tired Of Feeling Tired? Sick Of Being Sick?

angela-brown

Tired of feeling tired? Sick of being sick?

Angela Brown, Exercise & Nutritionist Expert, joins Doug and Tammie in studio to discuss what options there are to find out how you can take care of your body and identify the stressors that can effect your moods, sleep and overall health.  If you really are tired of feeling tired every day, sick of being sick or you seem to be going to the doctor and finding no real solution the be sure to give Angela Brown a call today to begin the process of the Dutch Panel Test!  314.226.3137

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Bailout Scorecard Update

Image from: http://www.karmicsangoma.co.za/2013/05/political-cartoon-of-week.html
Image from: http://www.karmicsangoma.co.za/2013/05/political-cartoon-of-week.html

The Bailout Scorecard

Last update: Mar. 31, 2016

Altogether, accounting for both the TARP and the Fannie and Freddie bailout, $619B has gone out the door—invested, loaned, or paid out—while $390B has been returned.

The Treasury has been earning a return on most of the money invested or loaned. So far, it has earned $298B. When those revenues are taken into account, the government has realized a $69B profit as of Mar. 31, 2016.

Where do these numbers come from?

Most of the data shown comes from the Treasury Department. But in a few cases, we’ve gathered information from other government agencies or press releases and regulatory filings from bailout recipients.

If you’ve got more questions about how we do this, please drop us a line.

What you can find here:

To find out the full report go to:

http://projects.propublica.org/bailout/main/summary

Waterproof Solutions- Stephen Burton

Waterproof Solutions- Stephen Burton

The Waterproofing and Foundation Repair Industry is filled with franchises with big advertising budgets. With potentially limited knowledge, products, and solutions; Are they the best for the consumer? Stephen Burton from Waterproof Solutions is here to shed some light on the industry.

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5 Crucial Questions To Plan Your Mortgage

Doug Show CardHas Your Mortgage Banker Committed Malpractice? I was fortunate that early in my career one of my mentors gave me some great advice:  “prescription without diagnosis is malpractice”.  That advice has helped me build a thriving mortgage practice thousands of followers.  I realize that what separates the average Loan Originator from the great ones are the questions that they ask.  By not asking the probing questions that a consumer doesn’t know to ask, you may end up with a loan that costs you thousands of extra dollars over time.  This is no different than a doctor not asking the questions necessary to make a diagnosis before he starts writing a prescription. A home is frequently your largest investment, and your largest debt!  Your mortgage is no longer just a mortgage, but more of a financial instrument.  It should literally weave into your long and short term financial, investment, and life plan. Together with my clients, we form a debt strategy that leads to wealth creation over time. To truly understand a client’s needs, these five questions are crucial:

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Saving Money On A Gym Membership

join our gymDoug and Tammie review how to save money on a gym membership can lead to exercising good judgement.

#1 Never ever ever ever sign a gym contract

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Getting Your Financial House In Order

carrying-moses-statue-tablets
Financial House In Order

Steps To Get Your Financial House In Order

It really can be easy to put off for a rainy day or end times to organize your financial records.  Getting your financial house in order is one of the most important things you can do to help your family should a family crisis occur.

Here are some suggestions to get yourself on the right track:

Step 1: Collect all of your financial records such as insurance policies, bank account and safety deposit box information, investment statements and more.

Step 2: Collect your personal data such as wills, powers of attorney, social insurance numbers, passport numbers, health records, computer passwords, etc.

Step 3: Once you have all your records gathered together, set up a filing system to organize the information. You can use an online system like: Dropbox located at: https://www.dropbox.com/

Google Drive located at www.drive.google.com

Canada has one located at www.clhia.ca, is a free online tool that can help you save important personal and financial information in one place so that family members can easily locate them in an emergency.

Step 4: Make sure you store this information in a safe place such as a secured folder on your computer, a safety-deposit box, or in a locked fireproof box.

Step 5: Finally, be sure to tell key family members or friends or your lawyer where this information is stored so they can find it easily and quickly.

Resources:

From <http://www.seniorlivingmag.com/articles/2013/05/take-these-steps-to-get-your-financial-house-in-order>