Western Mass Homes Lesley Lambert

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Get Up To $7,100 in Repeat Home Buyer Credits!

Money Grab

Western Massachusetts Repeat Home Buyers:

If you are considering making a move to reap the reward of the $6,500 tax credit, working with me can raise your credit up to $7,100! The federal housing tax credit guidelines for existing home owners allows for up to $6,500 for buyers who are under contract to purchase by April 31, 2010 and who close on the property prior to July 1, 2010.

What is the definition of a move-up or repeat home buyer?

The law defines a tax credit qualified move-up home buyer (“long-time resident”) as a person who has owned and resided in the same home for at least five consecutive years of the eight years prior to the purchase date. For married taxpayers, the law tests the homeownership history of both the home buyer and his/her spouse. That is, both spouses must qualify as long-time residents, with at least five years of principal residency for each. Repeat home buyers do not have to purchase a home that is more expensive than their previous home to qualify for the tax credit.

Make your move with me and I can add $600 to the overall credit!

The Park Square Realty Corporate Advantage Program is a one stop shopping system with the extra advantage of a credit at closing…win-win! You will get: A personal home buying consultant. Realtor/real estate agent Lesley Lambert A personal home mortgage consultant … our in-house Wells Fargo representative A personal attorney chosen from our list of partners A credit at closing! Whether you are a home buyer who is moving up or moving down, these credits are available to you through April 30, 2010. Don’t lose out on this opportunity….the clock is running down! Western Massachusetts home buyers, contact Lesley Lambert at Park Square Realty in Westfield, MA

When Foreclosure isn’t the Final Word

This week an article on foreclosures and short sales came out that even I found shocking. Walking away from your home and allowing foreclosure may not be the end of your mortgage obligation.

The article went on to caution that selling your home via short sale does not automatically absolve you of the debt, either. This I did know, but realized upon reading the article I have never shared this important fact with my readers.
short sale

Short sales go something like this (although each one is very unique):
#1- you go into a default position with your mortgage by missing at least one full payment cycle.
#2- you list your home aggressively for fair market value with an agent that understands the short sale process
#3- you contact your lender and stay in communication regarding the status of the listing
#4- you hire an attorney who specializes in short sales
#5- you present offers to the lender for their approval
#6- the lender approves (you hope) the short sale and the house is sold
#7- IMPORTANT: Your attorney should get a signed release of financial obligation from the lender
#8- you move on to rebuild your credit

Step seven, if missed, can mean that the lender will come after you at a later date for the shortfall between what you owed and what the property was sold for. Be sure to discuss this issue with your attorney BEFORE the closing happens!

If you need help with a distressed situation like foreclosure or short sales, I am here to help with empathy and knowledge to give you a helping hand.

I am Going To PodCamp Western MA 2!

PodCamp Western Mass

I am very excited that this weekend I will be attending PodCamp Western MA 2.  A little less than a year ago I attended the first PodCamp Western MA, which was also my first social media camp of any kind.

What a difference a year (or a bit less) can make!  Since that first camp experience I have attended and taught at many more around the country.

These social media camps provide an energized environment of peer to peer sharing and teaching.  They are the best way I  have found to learn to utilize new media for my real estate business.  The things I have learned at these camps have provided me with tools and strategies to offer my home sellers added marketing that other agents don’t offer.  I have been able to reach out to the residents of Western Massachusetts and share my real estate expertise with home buyers and sellers.

I have met some of the most important people in my life including my boyfriend (Morriss Partee co-organizer of PodCamp Western MA), my business partners in social media training, clients and friends.  I have grown my sphere and become knowledgeable in the use of new media tools…people now turn to me for information and advice.  I wrote this past fall about the gifts that social media has brought me…I am so grateful!

Last year I was nervous walking into PodCamp.  I didn’t know anyone and I wasn’t sure what to expect.   This year I will be surrounded by some of the people I like most, talking about topics that excite me and leading a session:  “Tweetdeck to the Rescue!”.

I left last year’s event so excited and full of new ideas, I practiced my new found skills in a video blog :”A PodCamp Virgin Tells All” about the event.  I know I will leave this year with even more new tools and new friends….I just can’t wait!

If you are attending PodCamp WesternMA 2 and we haven’t met yet, be sure to introduce yourself and feel free to ask me about real estate, Twitter, Facebook, blogging, video blogging, the weather….whatever you want to talk about! I can’t wait!

If you want to start connecting before the event, here are my profiles:

Should You Buy a Short Sale Home in Western MA?

During my work as a real estate agent in Westfield, MA and the surrounding areas of Western MA I run into a lot of discussion about short sales.

There are some things to consider when shopping for a new home and thinking about whether or not you should look at short sales.
short sale

Who SHOULD buy short sale property?

People who don’t have a hard and fast time-line can be great candidates for short sale purchases. They can exchange their ability to give time and patience for instant equity on a below market priced property.

People who are not emotionally involved might be perfect buyers for short sale properties. Investors who are looking to gain a financial edge can make out in this arena.

People who won’t be impacted by the loss of some of their cash outlay (inspections, application fees, etc).

Who Should NOT buy Short Sales:

First time home buyers hoping to get the tax credit should NOT be placing bids on short sales. Short sales can drag on for MONTHS.

People who are tight on cash for their purchase should not be looking at short sales. It is entirely feasible that you could spend thousands of dollars on the purchase expenses only to find out five months later that this whole thing isn’t working out.

If you are a buyer or seller in Western Massachusetts who has questions about the short sale process, please get in touch.

Ten Winter Maintenance Tips for your Western Massachusetts Home

Whether you are selling your home this winter or not it is important that you take a few minutes to perform some seasonal maintenance.  Winters in Western Massachusetts and other cold climates can do damage to property that hasn’t been looked after.

These ten tips will ensure that your home stays in tip top shape!

Winter's back in town...

#1- Safety First!  Check that your smoke detectors and carbon monoxide detectors have batteries and are functioning properly.

#2- It’s f-f-freezing!  Insulate pipes in basements, crawl spaces and attics. These exposed pipes are most susceptible to freezing. Remember: the more insulation you use, the better protected your pipes will be.

#3- Have you changed your furnace filter?  If you have a forced warm air system, you need to either upgrade to a high grade filter that is intended for several months, or change the filter every month or two.  A clogged filter will reduce your furnace efficiency and can even prevent it from working at all!

#4- If your heating system has a whole house humidifier, it should be cleaned regularly.  Mold and bacteria can build up in there and will be pushed out in the air by the furnace.

#5-  Firewood should never be kept against a home.  It is a fire hazard and also attracts infesting bugs, which will make for long term problems.

#6- Put stormwindows on to save on heating costs.  Keep warm air in and cold out!

#7-  The dryer needs some attention, too!  Clean the clothes dryer exhaust duct, damper and space under the dryer

#8- Check that the weather stripping around doors is intact, and not brittle. Replace if necessary.

#9-  Check electric outlets for drafts.  If you feel cold air purchase foam insulation kits that are installed between the wall and the plate.

#10- Prepare for Blackouts – winter brings heavy snow that can knock out power and telephone lines, so be prepared. Stock up on emergency items such as candles, flashlights, batteries, etc. Have these items where they can easily be accessible.

 

 

With a few little tasks you can ensure the value, warmth and safety of your home are kept at a premium!