Texts for Haiti have raised more than 7Million in aid - Help

As you know, there is a tremendous disaster and tragedy in Haiti that has moved many of us. But it's wonderful to actually see and know that our money IS being raised and it IS helping. I hope you'll take a minute to read this CNN Article posted today. Please forward to as many people as you can - and don't forget to text.

If you texted - please comment on this post and write "Texted my help"! I'd love to keep track how much money you have all raised. Thank you!!!


Text donations raise $7M for Red Cross Haiti effort

By Julianne Pepitone, staff reporterJanuary 15, 2010: 11:10 AM ET



NEW YORK (CNNMoney.com) -- Donations via text message raised $7 million for the American Red Cross's Haiti relief efforts as of 11 p.m. Thursday.
Soon after a 7.0-magnitude quake struck near capital city Port-au-Prince late Tuesday, the Red Cross mobilized fundraising efforts via social networking site Twitter. Just before midnight, @RedCross tweeted: "You can text "HAITI" to 90999 to donate $10 to Red Cross relief efforts in #haiti."
And so far a staggering 700,000 customers have done just that, across all wireless networks including AT&T (T, Fortune 500), Verizon (VZ, Fortune 500), Sprint (S, Fortune 500) and T-Mobile.
"These are donors who are typically the hardest to reach: young people," said Verizon Wireless spokesman Jeffrey Nelson. "They're reacting to something that affects them and realizing their few dollars can make a difference. Texting has opened up a whole new world for philanthropy."
Twitter mobilizes Haiti aid
Mobile giving isn't new, but it's been in the spotlight since the Haiti earthquake hit. In fact, the $5 million that's been raised so far by the Red Cross far exceeds the nearly $4 million that was donated to all charities by mobile texts in all of 2009, Nelson said.
Organizations including the ASPCA, Feed the Children and World Land Trust all have 5-digit numbers to which subscribers can text donations at any time.
Nelson said Verizon Wireless (VZ, Fortune 500) has a long-standing policy that it does not charge subscribers for texts to make charitable donations, and added that 100% of the donated funds are passed on to the Red Cross. T-Mobile also said its subscribers can text Haiti donations for free.
News reports earlier Thursday said AT&T (T, Fortune 500) was charging subscribers for their texts. But a spokesman said Thursday afternoon that the company had updated its systems in the morning to make texts sent to Haiti relief efforts free of charge, and that the change would cover those who donated yesterday.
On Thursday afternoon Sprint said it will continue to treat donation texts "like any other text message for now," but by that evening the company did an about face and said it would issue a waiver on text message fees for specific Haiti mobile giving donations.

Today's Mortgage Rate Update - by Hoboken Mortgage Broker

Remember two weeks ago when I posted an update rates were just about 5% - at around 5.125 - take a look to see that they've gone down a hair. Still a great time to lock in your rate if you're serious about buying or looking into refinancing.

>>>
REVISED January 15th, 2010---- 10:30 AM ETLock Period = 30 Days
CONVENTIONAL CONFORMING LOANS (loans less than or equal to $417,000)

30 YEAR FIXED ---------------------------- 5.000%/ 5.036% APR
30 YEAR FIXED INTEREST ONLY--- 5.625%/ 5.657% APR
15 YEAR FIXED----------------------------- 4.375%/ 4.411% APR
5 / 1 ARM------------------------------------- 3.750%/ 3.621% APR
7/1 ARM ------------------------------------ 4.250%/ 4.016% APR

* All quotes are with 0 points*Investment Properties --- ** Add 1.75 points (if 25% down)***There may be a rate increase for cash-out refinance transactions over 60% Loan to Value, or condominiums over 75% LTV


CONVENTIONAL HIGH BALANCE CONFORMING FIXED RATE LOANS (loans greater than $417,000, but less than $729,500)

30 YEAR FIXED ------------------------- 5.250%/ 5.279% APR
15 YEAR FIXED ------------------------- 4.625%/ 4.641% APR
** Loan amount restrictions based on county and property type.

***There may be a rate increase for cash-out refinance transactions over 60% Loan to Value, or condominiums over 75% LTV

CONVENTIONAL JUMBO LOANS (Fixed rate programs greater than high-balance conforming, ARM programs greater than $417,000)
30 YEAR FIXED--------------------------- 5.990%/ 6.015% APR
30 YEAR FIXED INTEREST ONLY-- 6.250%/ 6.271% APR15 YEAR FIXED--------------------------- 5.125%/ 5.140% APR5 / 1 ARM------------------------------------- 4.500%/ 4.316%APR
7/1 ARM -------------------------------------- 4.750%/ 4.556% APR ** All non-conforming loans need to be discussed in detail

*** Special Program 15/ 30 ARM
-----5.000% / 4.922% APR -- .50% Points --- Loans up to $1,000,000!!!

Any questions don't hesitate to contact my preferred mortgage broker directly by emailing him at mmundy@pinnaclemortgage.biz

Sneak Peak At RE/MAX Gold Coast Open Houses Hoboken

Here's a look at our list of open houses for just Hoboken! These will be open this weekend, January 16th and 17th. Happy House Hunting!

330 Madison St. #5
RECESSION BUSTER

When: Sunday Jan 17th 2-4PM
Listing Price: $284,900
Bedrooms: 1
Baths: 1
Sq.ft: 520
View More Info

622 Park Ave. #5C

When: Sunday Jan 17th 1-3PM
Listing Price: $315,000
Bedrooms: 1 plus den
Baths: 1
Sq.ft: 560
View More Info

312 Madison St. #3C
AFFORDABLE 2 BR/2BA

When: Saturday Jan 16th 12-2PM
Listing Price: $425,000
Bedrooms: 2
Baths: 2
Sq.ft: 1000
View More Info

812 Grand St #308 THE HUNTINGTON

When: Saturday 1/16 & Sunday 1/17 2-4PM
Listing Price: $444,900
Bedrooms: 1
Baths: 1
Sq.ft: 823
View More Info

707 Monroe St #201 & 202
SATORI HOBOKEN

When: Sunday Jan 17th 1-3PMListing Price: $438,168 & $838,168
Bedrooms: 1 & 3
Baths: 1 & 2

View More Info

1210 Park Ave #2
GREAT LOCATION

When: Sunday Jan 17th 1-3PM
Listing Price: $469,000
Bedrooms: 2+den
Baths: 2
Sq.ft: 1100
View More Info

614 Monroe St Unit A
HUGE DEEDED LANDSCAPED YARD & LARGE COVERED PATIO

When: Sunday Jan 17th 2-4PM
Listing Price: $469,900
Bedrooms: 2
Baths: 2
Sq.ft: 1125
View More Info

222 Clinton St. #17
LOFTY DUPLEX

When: Sunday Jan 17th 1-3PM
Listing Price: $549,000
Bedrooms: 2+Den
Baths: 2
Sq.ft: 1250
View More Info

62 Madison St.
BRAND NEW! RENOVATED LUXURY CONDOS

When: Saturday 1/16 & Sunday 1/17 1-3PM

Listing Price: Starting at $569,000
Bedrooms: 2
Baths: 2
Sq.ft: 1280
View More Info

830 Monroe St. #4E
LIVING LARGE IN HOBOKEN

When: Sunday Jan 17th 2-4PM
Listing Price: $649,000
Bedrooms: 2
Baths: 2
Sq.ft: 1393
View More Info

1500 Garden St #1
TOLL BROTHERS LUXURY LOFT

When: Sunday Jan 17th 2:30-4:30PM
Listing Price: $660,000
Bedrooms: 1+Den
Baths: 1
Sq.ft: 1269
View More Info

603 Monroe St #4
NEW LISTING

When: Sunday Jan 17th 2-4PM
Listing Price: $695,000
Bedrooms: 3
Baths: 2
View More Info

516 Grand St. & 517 Adams St.
NEW CONSTRUCTION

When: Saturday 1/16 1:30-3:30 & Sunday 1/17 12-2PM
Priced from $699,000
Bedrooms: 2 & 3
View More Info

700 Grove St #5T (Border of Hoboken and Jersey City)

STEEL & CONCRETE CONSTRUCTION

When: Sunday Jan. 17th 12-2PM
Listing Price: $499,000
Bedrooms: 2
Baths: 2
View More Info

Scammers are keeping home buyers from their tax credits

The IRS reported that because of scammers looking to cash in on falsified home buyer tax credit claims, they've now had to change the original E-form required to file for the credit. Buyers who want to cash in on the tax credit of up to $8,000 for 1st time buyers, or for move up buyers with a credit of up to $6,500 must now file via mail.

This change is delaying the process for buyers to receive their tax credits by slowing down the turn around time. Before, buyers could've seen their refunds come back in as little as a month, it's now taking some states as long as 4 months. In addition, buyers are now required to submit additional documentation for proof such as proof of residency, a signed mortgage statement and a valid driver's license or photo i.d.

The IRS points out that taxpayers can still use the electronic forms available on its Web site or consumer sites such as TurboTax; they just have to print them out, attach the proof and mail everything in.

The IRS has posted the new form 5405. Click here to download.

Still, waiting 4 months for free money isn't too bad. When the program was first rolled out buyers had to wait a full year before they could file their claims.

Another sad story however for those scammers looking to take advantage of others. In October,

James Otto Price III was convicted of falsely claiming tax credits for 15 people. Since then it's believed their have been other arrests, but hopefully this new system will put an end to it.

Hoboken Sellers | Is Your Agent | Causing Your Home | Not To Sell?

Real Estate is one of the most expensive purchases most of us will ever make in our lifetimes. With the medium price in Hoboken around $500,000 - why then, do real estate agents put up such crappy pictures? Or, NO pictures?

Sellers: this is partly your fault. I know that sounds harsh, but it is solely up to you to see how your house is represented. Yes, you decided to hire a real estate agent to help market your home to prospective buyers and other cooperating agents. But, you have to do your due diligence and make sure your home is being properly showcased.

Pictures set expectations. And first impressions mean everything.

Buyers overwhelmingly will dismiss a property based upon pictures. If the pictures are poor the buyer will not decide to make an appointment to view it, and same goes when there are no pictures.

It is just amazing to me that some agents will market a $300,000 or even $600,000 condo with horrible pictures or none. Did you know that professional photographers charge from $85 - $125 for a professional picture session that includes a virtual tour???

When you interview your agent, do you ask - what kind of camera do you use? Do you hire a photographer? May I see past properties you've marketed?

If they answer that they will take the pictures themselves, and they show you homes that they've marketed with poor quality pictures, do yourself a HUGE favor, and do not hire this agent. It doesn't matter what they say, how low they'll lower their commission or how short of a contract period they'll give you. Bottom line is that you are seriously depleting your chances of getting your home sold at top dollar.

Here is a list of common mistakes agents make with respect to pictures:

-Poor resolution, pictures not appropriate for web exposure or to enlarge and show up grainy and barely visible

What is this? I can barely make it out? This second one is a cluttered picture to being with but on top of it it's not in the proper resolution therefore not visible.

- Bad angles that do not show off a rooms size or features

If I'm a buyer I would have no clue as to what this was.. is this a bedroom? An office? A hallway? The clarity is fine, however this doesn't define a room and it doesn't allow a buyer to see the room completely - that plus look at the mess of office clutter!

-Poor pictures in general, especially when you can see the agent taking the pictures

Really? You allowed this to be posted? All I see is part of a mirrored closet with what is either the home owner or agent in the reflection with flash, and a door way. This just cheapens the listing and a buyer will already start to deduct from the price they're willing to pay in their head.

- Pics of rooms that haven't been staged. There are many stagers that you can hire if your agent is not willing or does not know how to properly stage a home for viewings and pictures

Here is a good example of a room that needs staging. There is nothing about this picture that will make a buyer want to view this property let alone buy it.

This picture poorly depicts a bedroom as small and dark. The crib should not be in the picture, plus I would've removed the foot bench and stool, that and the shades should be opened to show views and sunlight. Not only will it appear bright but it will draw the eye out which will give the illusion of a larger space. A professional photographer can photograph properly with sun in the background

- Lastly No pictures!!

I can't tell you how many times I pull up listings that have no pictures. My clients almost always turn down the chance to view a property that has no pictures. Make sure your listing has pictures! Even if you have a messy tenant your agent should make every effort to capture some pictures of at the very least the common areas, the surrounding neighborhood and at least a kitchen or living room shot - but a good one. Sellers, is your home on the market? Has it been on for more than a week? Go online, and search for your listing - or ask you agent to send it to you. If there are no pictures or there are bad ones like the ones above - set up a meeting with your agent immediately.

Bottom line: Do not hire a listing agent that will not post pictures, will post poor pictures or will not suggest staging your home. Become more involved in the marketing of your home. Now, don't be extreme and proof read every item of material and insist that your agent write that your home is a sanctuary - agents know what key words attract buyers and MLS guidelines prohibit descriptions from sounding like a short story - so the important thing is that your agent highlights the best selling features that will lure as many buyers as possible. That, and that you and your agent work together to stage and declutter your home so that it is as neutral and open as possible. And finally, that you set a fair price and your agent hire a photographer to take quality, wide angle pictures, or at the very least your agent take quality pics like the one's below.

New Form Will Help Buyers With Comparing Mortgage Lenders

The Department Of Housing And Urban Development has created a new form that must be used by all mortgage brokers, banks and lenders. This form is known as the "Good Faith Estimate", and as of January 1st, 2010, they are in effect. This change will make it easier for consumers to see clearly what lenders are charging for their services, hopefully eliminating hidden fees.

The new form will make it difficult for lenders to deliver anything other than what they promised. It also encourages consumers to shop around for rates by adding a shopping cart comparison chart.

This is a great mediation by the Department of HUD. This should relieve some of the stress consumers face when shopping for mortgages and like Anderson Cooper says "keep em honest".

See the new form here.

Sellers | Now Might Be The Best Time To Sell Your | Home

I'm sharing this article with you from CNN.Money.com because I thought it was very interesting, and the article sights some good points. However, at the end, Lawrence Yun, ties in that the tax credit and new jobs in the second half of 2010 will hedge against falling prices.. so make sure to read the entire article.

3 Reasons Home Prices Are Heading Lower

By Les Christie, staff writer January 1, 2010: 6:22 PM ET
NEW YORK (CNNMoney.com) -- After four months of gains, home prices flattened in October. Worse yet, industry insiders think that they'll soon start to fall.

But most forecasts predict price declines in 2010, with possible losses ranging from anywhere from 3% on up. Fiserv Lending Solutions, a financial analytics firm, forecasts that prices will fall in all but 39 of the 381 markets it covers, with an average drop of 11.3%.
"We've seen recent price stabilization because of low mortgage interest rates and the impact of the first-time homebuyers tax credit," said Pat Newport of IHS Global Research. "But there are really good reasons to think prices will now start going down."
There are three main reasons for the reversal: a coming flood of foreclosures, rising interest rates and the eventual end of the tax credits.

More foreclosures

For Gus Faucher, the director of macroeconomics for Moody's Economy.com, the huge number of foreclosures that remain in the pipeline is the big problem.
Moody's upped its estimate of defaults recently because of shortcomings of the government-led mortgage modification programs. Trial workouts are not being made permanent and completed modifications are redefaulting at high rates.
"There are going to be fewer [successful] modifications than we thought," said Faucher.
Even so, he added, much of the price decline has already occurred and Moody's forecast is for only another 8% drop. The worst-hit markets will be the ones suffering the most foreclosures, places like Arizona, California, Florida and Nevada. (See 7 tips for buying foreclosures)
Resetting option ARMs (adjustable rate mortgages) will also aggravate the foreclosure problem. These mortgages allow borrowers to pick their own payments, which can be so low they don't even cover the interest. Balances swell.
For many of the more than 350,000 option-ARM borrowers, it's time to pay the piper. Their loans will change into fully amortizing mortgages that will carry much higher monthly payments. A very large percentage of these homeowners will default, according to Shari Olefson, author of "Foreclosure Nation: Mortgaging the American Dream."
"We've still only seen the tip of the foreclosure iceberg," she said.
She also predicts more strategic defaults, people deliberately walking away from even fixed-rate mortgages as the value of their homes dips well below the amount they owe.
Olefson's forecast is for price declines of 5% to 15%, depending on the area, with a national median price drop of about 10% for 2010.

Rising interest rates

Also affecting prices will be higher interest rates. Some analysts, according to Newport, think rates for a 30-year mortgage will pass 6% next year as the government curtails housing market support.
The Federal Reserve has helped keep rates low through purchases of mortgage-backed securities. But that program is winding down and will end in March.
"The government is throwing everything at the market but the kitchen sink," said Peter Schiff, president of Euro pacific Capital. "It can't prop up housing markets forever."
Schiff is among the bigger bears. Though he gave no specific prediction, he thinks prices -- already down 29% from the peak -- are only halfway to the bottom.

The end of the tax credit

As a tool for supporting housing markets and prices, the tax credit for homebuyers is a two-edged sword. It reduces taxes dollar-for-dollar by up to $8,000 for new homebuyers and $6,500 for buyers who already own a home and should support home prices. But it ends at the end of April.
Many buyers will push their deals forward to get in before the deadline and then demand for homes could sink afterward.
One of the few bulls out there is NAR, whose chief economist, Lawrence Yun, is counting on the tax credit to provide temporary support for housing markets until the economy recovers enough to start fueling sales. He predicts price improvement in 2010 of more than 3%.
"The headwind we face is rising mortgage interest rates," Yun said, "but the compensating factors will be the homebuyers tax credit in the first half of the year and increased job creation in the second half."

Mortgage Rate Update

Happy New Year everyone!

All good things must come to an end..

What goes up must come down, and what goes down must come up!

Mortgage rates have recently crept higher. Here are the most recent rates - provided by my preferred mortgage broker - Mike Mundy.

I'll say it again, if you are in the market to buy, you should absolutely lock in a rate - because as I mentioned in my last post about my class with Lawrence Yun, rates will continue to go up this year.

REVISED December 30^th, 2009---- 5:30 PM ET

Lock Period = 45 Days

CONVENTIONAL CONFORMING LOANS (loans less than or equal to $417,000)

30 YEAR FIXED ---------------------------- 5.125%/ 5.156% APR

30 YEAR FIXED INTEREST ONLY--- 5.625%/ 5.657% APR

15 YEAR FIXED----------------------------- 4.625%/ 4.632% APR

5 / 1 ARM------------------------------------- 4.000%/ 4.164% APR

7/1 ARM ------------------------------------ 4.500%/ 4.311% APR

* All quotes are with 0 points
*Investment Properties --- ** Add 1.75 points (if 25% down)**
*There may be a rate increase for cash-out refinance transactions over 60% Loan to Value, or condominiums over 75% LTV

CONVENTIONAL HIGH BALANCE CONFORMING FIXED RATE LOANS (loans greater than $417,000, but less than $729,500)

30 YEAR FIXED ------------------------- 5.500%/ 5.529% APR

15 YEAR FIXED ------------------------- 4.625%/ 4.641% APR

** Loan amount restrictions based on county and property type.

CONVENTIONAL JUMBO LOANS (Fixed rate programs greater than high-balance conforming, ARM programs greater than $417,000)

30 YEAR FIXED--------------------------- 5.875%/ 5.896% APR

30 YEAR FIXED INTEREST ONLY-- 6.250%/ 6.271% APR
15 YEAR FIXED--------------------------- 5.125%/ 5.140% APR
5 / 1 ARM------------------------------------- 4.500%/ 4.316%APR

7/1 ARM -------------------------------------- 4.750%/ 4.556% APR

** All non-conforming loans need to be discussed in detail

*** Special Program 15/ 30 ARM -----5.000% / 4.922% APR -- .50% Points --- Loans up to $1,000,000!!!

**Please call for rates on loans over 1 million**

**Keep in mind that every borrowers situation is different, and each must be evaluated individually.**

5-4-3-2-1! Happy New Year!

Hi ladies! Creating this blog has been wonderful for me. I enjoy connecting with my readers and have really liked that I can mix my career with my recreational life which of course, for me go hand in hand. There is never a day that goes by that real estate isn't somehow involved in my life and that I am simultaneously enjoying my surroundings.

Thank you for reading and for your comments and suggestions. I will continue to grow this coming year and look forward to more changes.

So, to Marilyn! May you live life to the fullest, dare to be daring, live to be loved and work to succeed. Hope we all welcome the new decade with open hearts. Cheers! And Happy New Year!