• Better Judgements-Easy Home Remodeling Tips & Tortilla Dessert Wraps ---------BETTER JUDGEMENTS--------- Better Judgements eZine Terria Judge, Realtor CRS, ABR, GRI, Broker Associate Better Judgements is a newsletter on home matters, from Terria Judge, your Garden City, KS real estate agent! Contact Terria Judge at 620-271-2129 Terria Judge Coldwell Banker, The Real Estate Shoppe, Inc. John P. Judge, Broker 1135 College Dr. Suite E Garden City, KS 67846 1-877-275-7497 x 223 620-275-7421 x 223 http://terriajudge.com http://gardencityksrealestate.com http://gardencityrentals.com Terria@TerriaJudge.com Subscription Management at end of newsletter. Thanks for your subscription to Better Judgements, the newsletter from your Garden City Kansas Realtor, Terria Judge. ---------BETTER JUDGEMENTS--------- In this Issue ============= 1. Article: Buying or Selling, is the Mortgage Your Only Option? 2. Features at TerriaJudge.com 3. Featured & New Listings 4. Special Days & Events For March 5. Article: Cosmetic Touches for Easy Home Remodeling 6. Recipe: Tortilla Dessert Wraps ---------BETTER JUDGEMENTS--------- Article: Buying or Selling, is the Mortgage Your Only Option? ============================================================= By by Tony Robinson Today, thanks to the ever-increasing use of the internet to seek out homes for sale, and the increased participation of homeowners in the buying and selling process, there is greater interaction between the buyer and seller. Not only is this good for public relations, it is also an excellent opportunity to explore other funding options, for the buyer and for the seller. It is normal on the part of the buyer to assume their only option when purchasing a home is to obtain a mortgage, but the traditional lending process. This is not always the case, and today more than ever, buyers and sellers are coming together with creative and accommodating ways to affect the purchase, or sale, of the home depending upon your status as buyer or seller. Quite often, individuals interested in purchasing a home lack the 20% down payment often required from the lender. Provided the seller has established equity of the home, there are other options for the buy and sale agreement. Seller financed mortgages are the most common alternative mortgage option exercised; seller financed mortgages however, are not the only option that can be considered. In this article, were going to take a look at some of the alternative mortgage options that are rarely exercised, but that do provide tremendous benefit to the buyer and seller. As a seller, the conditions must exist that allow you to offer the buyer alternative options. Your mortgage balance must be considerably less than the fair market sale price or your hands are basically tied. Imagine a scenario: you're ready to sell your home, the buyer is ready to purchase your home, and they simply do not have a 20% down payment. What they do have is a 5% down payment, and the desire to work with the seller and the mortgage lender. You're asking price for the home is $80,000 and the appraised value of the home is $85,000; your existing mortgage is $50,000 and the lender requires the proposed buyer to provide a $16,000 down payment. How can a solution be reached? If you, as the seller are willing to take a second lien on the property, there is a workable solution. The fact that the home appraises for more than the asking price, automatically provides the buyers with a $5,000 level of equity, so they only need $11,000 more to reach a 20% down payment. They have $4000; in order to accommodate the buyers, you could accept $74,000 in upfront mortgage money from the lender, and take a second lien on the $6000 difference. This method works only if you're willing to take the second lien, and the buyers are credible and reputable individuals. Taking second liens or second mortgages are increasing in popularity as a means to sale increasing value real estate in today's rapidly expanding market. There are other spins offs from the basic formula described, however the scenario above is the most common and provides the buyer and seller with the basis for expanding with creative add- ons. Of course, the seller financed mortgage is still the meat and potatoes of the alternative financing industry. How does the seller financed mortgage work? Generally, it works in this manner: if the seller owns the home outright he or she may choose to finance a mortgage for the buyer, and set up an amortized loan. Thanks to the readily available personal computer, loans can be constructed that would have only be available via an accountant or lending institution, 20 years ago. Of course, how you decide as a buyer or seller to ultimately close a deal, will depend on many factors, this may be just one of the more important aspects. How well you know each other, credit ratings, and the dollar value of the mortgage will also affect your decision. Regardless of the final decision, the opportunity exists to explore other avenue other than the traditional mortgage lending institutions, or mortgage companies. And, sometimes, you never know, the deal from the seller financed mortgage may open more doors than just a mortgage for homeownership! About the Author Tony Robinson is a Real Estate Investor, Webmaster and International Author. Visit http://www.ezy-mortgage.com/ for his tips on mortgages. ---------BETTER JUDGEMENTS--------- Features at TerriaJudge.com =========================== Did you know that we offer rentals here at Terria Judge?? Thats RIGHT !! If you're in the market for a home but aren't ready to purchase one yet, we can STILL help you!! Need a 2 bedroom home with a fenced yard? We've got that!! How about a 3 bedroom home with 2 baths?? We've got that, to!! Looking to lease a great commercial property? Check out the 40' x 80' With 1.32 Acres we have to offer! Visit our website today and click on "Rentals" and let us know what we can do for you! ---------BETTER JUDGEMENTS--------- FEATURED & NEW LISTINGS ======================== http://terriajudge.com/featuredlistings.html ***1116 Safford 2 plus 2 Bedrooms Bath on each Floor Laundry & Family Room down Attached Single Garage Dog Kennel in backyard ***103 Wellington Place 3 Plus 2 bedrooms 3 baths, up laundry Beautiful fireplace, hot tub Sprinkler system, whole house fan Storage building with electricity, gas grill hookup Stop by today to see our featured homes, you'll be glad you did! While you're there, be sure to take our Visual Tour of the fabulous home on Wellington Place!! ---------BETTER JUDGEMENTS--------- March Special Days & Events =========================== March 1 Ash Wednesday March 3 National Anthem Day March 17 St Patrick's Day March 20 First Day of Spring Other special days you might not have known in the month of March: March 1 Share a Smile Day March 11 Johnny Appleseed Day March 14 Albery Einstein's Birthday March 15 Absolutely Incredible Kid Day March 20 Big Bird's Birthday March 26 Make Up Your Own Holiday Day March 30 Doctor's Day There is ALWAYS something to celebrate!! ---------BETTER JUDGEMENTS--------- Article: Cosmetic Touches for Easy Home Remodeling ================================================== By Charles Kassotis Is your home ready for a makeover? Maybe you're getting ready to sell it, or perhaps you're just tired of the same old look. Either way, there are plenty of things you can do to perk up your interior without spending tons of money. Here are some of the easy and inexpensive ways you can change your household environment. 1. Change the wall coverings. If you have painted walls, put up wallpaper. If you're bored with wallpaper, try a stencil design. As long as you can follow directions and make an effort to be neat, you may be able to handle this type of redecorating on your own, without the expense of hiring someone to do the work for you. 2. Hang new draperies. Pleated, floor-length drapes have largely become a thing of the past for those who are looking for more modern ways to decorate their windows. Try vertical blinds, valances, or tieback curtains to open up the room and give it new life. Experiment with new color combinations or patterns that will coordinate with your furniture for an entirely different look. 3. Install some shelves. Imagine a pretty wooden shelf, varnished to any texture or shade, sitting above your kitchen table. Or consider putting up a corner shelf in the family room for trophies or knick-knacks. A shelf above the fireplace, serving as a mantel if you don't already have one, adds a warm display area for family photos or mementos. You can make all the new shelves match, or coordinate them with the wood trim in each room where they will be added. 4. Add different lighting. How would track lighting look in your office? Enhance your dining room with a chandelier. Install soft lights in the living room, or put in floor lamps where rooms are dark and need to be brightened. A wall sconce with candleholder makes for a historic or romantic atmosphere. New lamp fixtures can make a dull room livelier. 5. Shop for accent pieces. You may want to add a wallpaper border to a painted room, or wood paneling (or wainscoting) to a home office or dining area. Hang French doors at your patio entry. Replace old, large wall paintings with smaller, fresher prints. Change artificial plants for real planters, and try some decorating tricks with handmade crafts, candles, or flowers. If you are unable to do some of the handiwork, contact the local chamber of commerce to see if there is an association of retired workers who will do the work more cheaply than a regular company, as is sometimes the case. Or buy the supplies when they go on sale and have a garage sale with your old items to make money for the new ones. Home remodeling doesn't have to include putting on a new roof or knocking out walls. For just a few dollars here and there, you can substantially change the way your home looks and feels by getting a few affordable odd jobs done or buying artsy things on sale. About the Author For more information on cosmetic touches for easy home remodeling, Visit The Paver Guide http://www.paverguide.com/ ---------BETTER JUDGEMENTS--------- Recipe: Tortilla Dessert Wraps ============================== By: Paula Deen (foodnetwork.com) Difficulty: Easy Prep Time: 10 minutes Cook Time: 10 minutes Yield: 4 servings Ingredients: 1/2 cup almond paste 4 (8-inch) flour tortillas 1 cup mini-marshmallows 1/2 cup milk chocolate chips 1/2 cup coconut flakest Whipped cream, for topping Vanilla ice cream, for serving Directions: Preheat a grill to low. Spread almond paste evenly on each tortilla. Sprinkle 1/4 of the marshmallows and 1/4 of the chocolate chips and 1/4 of the coconut on half of each tortilla. Roll the tortilla up and wrap in heavy-duty foil; seal tightly. Grill over low heat until heated through, about 5 to 10 minutes. Remove foil and place on a plate. Garnish with fresh sweetened whipped cream or prepared whipped topping. Serve vanilla ice cream on the side. ---------BETTER JUDGEMENTS--------- Thats it for this edition, folks!! Thanks for being here, have a wonderful day !! This newsletter is compiled and published by Mitone Griffith, http://BIGad.org

  March 1st, 2006 at 12:25 pm

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