8 Steps to Getting Your Finances in Order

1. Develop a family budget. Instead of budgeting what you'd like to spend, use receipts to create a budget for what you actually spent over the last six months. One advantage of this approach is that it factors in unexpected expenses, such as car repairs, illnesses, etc., as well as predictable costs such as rent.
   
2. Reduce your debt. Generally speaking, lenders look for a total debt load of no more than 36 percent of income. Since this figure includes your mortgage, which typically ranges between 25 percent and 28 percent of income, you need to get the rest of installment debt—car loans, student loans, revolving balances on credit cards—down to between 8 percent and 10 percent of your total income.
   
3. Get a handle on expenses. You probably know how much you spend on rent and utilities, but little expenses add up. Try writing down everything you spend for one month. You'll probably see some great ways to save.
   
4. Increase your income. It may be necessary to take on a second, part-time job to get your income at a high-enough level to qualify for the home you want.
   
5. Save for a downpayment. Although it's possible to get a mortgage with only 5 percent down—or even less in some cases—you can usually get a better rate and a lower overall cost if you put down more. Shoot for saving a 20 percent downpayment.
   
6. Create a house fund. Don't just plan on saving whatever's left toward a downpayment. Instead decide on a certain amount a month you want to save, then put it away as you pay your monthly bills.
   
7. Keep your job. While you don't need to be in the same job forever to qualify, having a job for less than two years may mean you have to pay a higher interest rate.
   
8. Establish a good credit history. Get a credit card and make payments by the due date. Do the same for all your other bills. Pay off the entire balance promptly.
   
   
   For More Valuable Real Estate Information visit http://FreeReports.AnnapolisHomes4You.com
   
   

Pat Ogle and The Annapolishomes4You Team
Champion Realty, Inc
410-224-0660
http://www.AnnapolisHomes4You.com/
PatOgle@AnnapolisHomes4You.com

Your dedicated Real Estate Professionals in Annapolis Maryland , Anne Arundel County, the Maryland Eastern Shore, and the surrounding areas in Maryland. We specialize in Annapolis Relocation, Annapolis Real Estate, Anne Arundel County Real Estate, Arnold Real Estate, Severna Park Real Estate, and Edgewater Real Estate. We specialize in Annapolis Waterfront Real Estate, Arnold Waterfront Real Estate and Severna Park Waterfront Real Estate.

Savings & Down Payment : Your First Step Toward Buying a Home

When preparing to buy a home, the first thing many homebuyers do is look at "homes for sale" ads in newspapers, magazines and listings on the internet. Some potential buyers read "how-to" articles like this one. The next thing you should do - before you call on an ad, before you talk to a Realtor, before you shop for interest rates - is look at your savings.

Why?

Because determining how much money you have available for down payment and closing costs affects almost every aspect of buying a home - including how you write your purchase offer, the loan programs you qualify for, and shopping for interest rates.

Mortgage Programs

If you only have enough available for a minimum down payment, your choices of loan program will be limited to only a few types of mortgages. If someone is giving you a gift for all or part of the down payment, your options are also limited. If you have enough for the down payment, but need the lender or seller to cover all or part of your closing costs, this further limits your options. If you borrow all or a portion of the down payment from your 401K or retirement plan, different loan programs have different rules on how you qualify.

Of course, if you have enough for a large down payment, then you have lots of choices.

Your loan choices include such varied programs as conventional fixed rate loans, adjustable rate mortgages, buy downs, VA, FHA, graduated payment mortgages and all the varieties of each.

Shopping Rates

A very important reason you need to have at least some idea of your down payment is for shopping interest rates. Some loan programs charge a slightly higher interest rate for minimal down payments. Plus, the interest rates for different loan programs are not the same. For example, conventional, VA, and FHA all offer fixed rate loans. However, the rates vary from one program to another.

If you shop lenders by phone, the loan officer will be able to tell which programs fit and quote you rates accordingly. However, if you are shopping on the internet, you have to have some idea of your loan program on your own.

Writing Your Offer

Another reason you need to have a clue about your down payment is because it affects how you write your offer to purchase a home. Not only are you required to put your down payment information in the offer, but different loan programs have different rules which also affect how you write your offer. This is especially important when dealing with FHA and VA loans .

If you are asking the seller to pay all or part of your closing costs, you have to be certain your loan program allows what you are asking. For smaller down payments, lenders allow the seller to pay less closing costs than for larger down payments. Some loan programs will allow a seller to pay certain types of costs, but not others.

Finally, your down payment also affects your ability to qualify for a loan. When you make a small down payment, lenders are fairly strict about having you conform to their underwriting guidelines. For larger down payments, they will tend to make allowances or exceptions to the rules.

For More Valuable Real Estate Information visit:
http://freereports.annapolishomes4you.com/

TOP RESIDENTIAL REAL ESTATE AGENT: LICENSED SINCE 1986

Pat Ogle, Associate Broker, CRS, DSAC, e-Pro, GRI, MCJ, REALTOR®
Certified Residential Specialist / Certified Internet Marketing Specialist
Over $73,000,000 in Settled Sales
Champion Hall of Fame
Best of the Best 2003, 2004, 2005, 2006, 2007, 2008
National Sales Award, 2003, 2004, 2005, 2006, 2007, 2008
#1 in AOL, Comcast, Google and Yahoo
#1 Relocation site for Annapolis, Anne Arundel County

Champion Realty, Inc. 711 Bestgate Road, Annapolis, MD 21401
410.224.0660 (O) 443.569.2736 (C) 410-224-0632 (F)
e-Mail PatOgle@AnnapolisHomes4You.com
Visit http://www.annapolishomes4you.com/
Blog AnnapolisHomes4You.blogspot.com

Please Don't Forget to Show Your Support for Our Troops!

When Is It Time To Replace My Roof?

Most experts agree that one of the best ways to avoid roof trouble is to inspect your roof twice a year: In the Fall, for sun damage and in the Spring for Winter damage. By doing this, you will be able to identify any problems early, before you start having leaks. Use binoculars from the ground to check for problems.

If you have asphalt shingles (petroleum based material covered with sand-like granule), look out for a roof surface that is not smooth and the edges of the shingles are curled and warped. Check for crooked shingles. Scan the roof for any shingles that may have been lifted by the wind or are missing altogether. Bumps can indicate that the roofing nails below have become loose. Look for bald spots where the mineral granules have worn away.

With wood shingles, check for curled, broken, and split shingles and for spots where nails have become loose or rusted.

With tile or slate, individual tiles can chip and break and require replacement.In valleys and in flashings around the chimney and vents, check for broken seals along the flashing's edges and for rust spots in the metal.

Check rafters and the underside of the roof for dark wet spots. These are signs of rot and will need to be replaced.

Climbing into your attic or onto your roof to inspect your home can be very dangerous. For that reason, we urge you to use the services of a professional contractor to conduct a close-up roof inspection.

Related Links:
Hometime has a whole roofing section for do-it-yourselfers that is great information.
ImproveNet has a calculator to help you determine the cost of a new roof.
Home Restoration & Remodeling Magazine offers advice on choosing a roofing contractor.

I hope you found this help full.

For More Valuable Real Estate Information visit http://FreeReports.AnnapolisHomes4You.com

Pat Ogle and The Annapolishomes4You Team
Champion Realty, Inc
410-224-0660
http://www.annapolishomes4you.com/
PatOgle@AnnapolisHomes4You

Your dedicated Real Estate Professionals in Annapolis Maryland , Anne Arundel County, the Maryland Eastern Shore, and the surrounding areas in Maryland. We specialize in Annapolis Relocation, Annapolis Real Estate, Anne Arundel County Real Estate, Arnold Real Estate, Severna Park Real Estate, and Edgewater Real Estate. We specialize in Annapolis Waterfront Real Estate, Arnold Waterfront Real Estate and Severna Park Waterfront Real Estate.

National/Maryland Weather Forecast!

Champion Realty has place on YouTube.com a great little ad on the National Weather(Real Estate) Forecast. To take a look Click Here tell me what you think.

For Valuable Real Estate Information visit http://freereports.annapolishomes4you.com/

Pat Ogle and The Annapolishomes4You Team
Champion Realty, Inc
410-224-0660
http://www.annapolishomes4you.com/
PatOgle@AnnapolisHomes4You


Your dedicated Real Estate Professionals in Annapolis Maryland , Anne Arundel County, the Maryland Eastern Shore, and the surrounding areas in Maryland. We specialize in Annapolis Relocation, Annapolis Real Estate, Anne Arundel County Real Estate, Arnold Real Estate, Severna Park Real Estate, and Edgewater Real Estate. We specialize in Annapolis Waterfront Real Estate, Arnold Waterfront Real Estate and Severna Park Waterfront Real Estate.

SEVEN SELLING MISTAKES YOU DON'T WANT TO MAKE

SEVEN SELLING MISTAKES YOU DON'T WANT TO MAKE!

Mistake #1 -- Pricing Your Property Too High

Every seller obviously wants to get the most money for his or her product. Ironically, the best way to do this is NOT to list your product at an excessively high price! A high listing price will cause some prospective buyers to lose interest before even seeing your property. Also, it may lead other buyers to expect more than what you have to offer. As a result, overpriced properties tend to take an unusually long time to sell, and they end up being sold at a lower price.

Mistake #2 -- Mistaking Re-finance Appraisals for the Market Value

Unfortunately, a re-finance appraisal may have been stated at an untruthfully high price. Often, lenders estimate the value of your property to be higher than it actually is in order to encourage re-financing. The market value of your home could actually be lower. Your best bet is to ask your Realtor for the most recent information regarding property sales in your community. This will give you an up-to-date and factually accurate estimate of your property value.

Mistake #3 -- Forgetting to "Showcase Your Home"

In spite of how frequently this mistake is addressed and how simple it is to avoid, its prevalence is still widespread. When attempting to sell your home to prospective buyers, do not forget to make your home look as pleasant as possible. Make necessary repairs. Clean. Make sure everything functions and looks presentable. A poorly kept home in need of repairs will surely lower the selling price of your property and will even turn away some buyers.

Mistake #4 -- Trying to "Hard Sell"

While Showing Buying a house is always an emotional and difficult decision. As a result, you should try to allow prospective buyers to comfortably examine your property. Don't try haggling or forcefully selling. Instead, be friendly and hospitable. A good idea would be to point out any subtle amenities and be receptive to questions.

Mistake #5 -- Trying to Sell to "Looky-Loos"

A prospective buyer who shows interest because of a "for sale" sign he saw may not really be interested in your property. Often buyers who do not come through a Realtor are a good 6-9 months away from buying, and they are more interested in seeing what is out there than in actually making a purchase. They may still have to sell their house, or may not be able to afford a house yet. They may still even be unsure as to whether or not they want to relocate. Your Realtor should be able to distinguish realistic potential buyers from mere lookers. Realtors should usually find out a prospective buyer's savings, credit rating, and purchasing power in general. If your Realtor fails to find out this pertinent information, you should do some investigating and questioning on your own. This will help you avoid wasting valuable time marketing towards the wrong people. If you have to do this work yourself, consider finding a new Realtor.

Mistake #6 -- Not Knowing Your Rights & Responsibilities

It is extremely important that you are well-informed of the details in your real estate contract. Real estate contracts are legally binding documents, and they can often be complex and confusing. Not being aware of the terms in your contract could cost you thousands for repairs and inspections. Know what you are responsible for before signing the contract. Can the property be sold "as is"? How will deed restrictions and local zoning laws will affect your transaction? Not knowing the answers to these kind of questions could end up costing you a considerable amount of money.

Mistake #7 -- Limiting the Marketing and Advertising of the Property

Your Realtor should employ a wide variety of marketing techniques. Your Realtor should also be committed to selling your property; he or she should be available for every phone call from a prospective buyer. Most calls are received, and open houses are scheduled, during business hours, so make sure that your Realtor is working on selling your home during these hours. Chances are that you have a job, too, so you may not be able to get in touch with many potential buyers.

The Annapolis MD Real Estate Specialist - With 25-Years Experience Selling Real Estate and Homes for Sale in Annapolis, Anne Arundel County, Eastern Shore and the Chesapeake Bay area of Maryland

Annapolis Real Estate and Relocation in Anne Arundel County, the Eastern Shore, and Surrounding Counties

TOP RESIDENTIAL REAL ESTATE AGENT:  LICENSED SINCE 1986 Pat Ogle, Associate Broker, Internet Marketing Specialist, REALTOR Certified Residential Specialist (CRS) Certified Internet Marketing Specialist (e-PRO) Graduate of the Realtor Institute (GRI) Certified Residential Investment Specialist (CRIS) Certified Historic Property Specialists (CHPS) Champion Certified Buyer Representative (CCBR) Member of the Champion Realty Hall of Fame Champion Realty Lifetime Achievement Award Awarded the Realty Alliance National Sales Award (2003,2004,2005,2006,2007,2008,2010) Awarded Best-of-the-Best by Champion Realty in Settled Real Estate Transaction Sales Life Time Member of the Distinguished Sales Achievement Club of the Anne Arundel County Board of Realtors (DSAC)

The AnnapolisHomes4You.com TeamChampion Realty, Inc.

A HomeServices Of America Company

A Member Of The Berkshire-Hathaway Family Of Companies

711 Bestgate Road Annapolis, MD 21401 Business:            (410) 224-0660       Toll Free:(888) 204-0535       Cell Phone:        (443) 569-2736       PatOgle@AnnapolisHomes4You.com

AnnapolisHomes4You.com

AnnapolisHomesForSale.tv

AnnapolisRealEstateHomesForSale.com

Pillar To Post: Fire Safety

Jim Williams and Rachel Oslund at Pillar To Post put this great fire safety list together:

Residential fires take their toll every year in lost lives and destroyed property. The fact is, many conditions that cause fires can be avoided or prevented by homeowners. Taking the time for some simple precautions and preventive inspections can help prevent fire in the home - and can even save your life should disaster strike.

Any electrical devices including lamps, appliances, and electronic equipment should be checked for frayed cords, loose or broken plugs, and exposed wiring. Never run electrical wires under carpet or rugs.

Wood-burning fireplaces should be cleaned by a professional chimney sweep each year to prevent a dangerous buildup of creosote, which can cause a flash fire in the chimney. Cracks in masonry chimneys should be repaired, and spark arresters inspected.

When using space heaters, keep them away from beds and bedding, curtains, papers - anything flammable. Always follow the manufacturer's instructions for use. Space heaters shouldn't be left unattended or where a child or pet could knock them over.

Use smoke detectors and keep them armed with fresh batteries unless hard-wired to your home's electrical system. Smoke detectors should be installed high on walls or on ceilings on every level of the home and inside each bedroom. Statistics show that nearly 60% of home fire fatalities occur in homes without working smoke alarms.

Kitchen fires know no season. Grease spills, items left unattended on the stove or in the oven, and food left in toasters can catch fire quickly. Don't wear loose fitting clothing, especially with long sleeves, around the stove. Handles of pots and pans should be turned away from the front of the stove to prevent accidental contact. Keep an all-purpose fire extinguisher within easy reach.

Children should not have access to matches or lighters. Flammable materials such as gasoline or kerosene should be stored outside the house.

Have an escape plan. This is one of the most important measures you can take to prevent death in a fire. Your local fire department can provide detailed recommendations on escape planning and preparedness. In addition, all family members should know how to dial 911in case of fire or other emergency.

Live Christmas trees should be kept in a water-filled stand and checked daily for dehydration. Needles should not easily break off a freshly-cut tree. Brown needles or a lot of fallen needles indicate a dangerously dried-out tree, which should be discarded immediately. Always use nonflammable decorations in the home, and never use lights on a dried-out tree!
Candles should be placed in stable holders and placed away from curtains, drafts, pets, and children. Never leave candles unattended, even for a short time.

Christmas or other holiday lights should be checked for fraying or broken wires and plugs. Follow the manufacturer's guidelines when joining two or more strands together, as a fire hazard could result from overload. Enjoy your indoor holiday lighting only while someone is home!Your local Pillar To Post office wishes you and your clients a happy and safe holiday season.

Jim Williams / Rachel Oslund
410.804.8626 / 301.448.9404
http://www.pillartopost.com/
Schedule an inspection today by sending your e-mailed request to:BestHomeInspections@comcast.net

For More Valuable Real Estate Information visit:
http://freereports.annapolishomes4you.com/

“It’s a funny thing about life; if you refuse to accept anything but the best…you very often get it” Somerset Maugham

"Expect the Best" Pat Ogle

Pat Ogle, Associate Broker, CRS, DSAC, e-Pro, GRI, MCJ, REALTOR®
Certified Residential Specialist / Certified Internet Marketing Specialist
Over $73,000,000 in Settled Sales
Champion Hall of Fame
Best of the Best 2003, 2004, 2005, 2006, 2007, 2008
National Sales Award, 2003, 2004, 2005, 2006, 2007, 2008
#1 in AOL, Comcast, Google and Yahoo
#1 Relocation site for Annapolis, Anne Arundel County For more information Click Here

Champion Realty, Inc. 711 Bestgate Road, Annapolis, MD 21401
410.224.0660 (O) 443.569.2736 (C) 410-224-0632 (F)
e-Mail PatOgle@AnnapolisHomes4You.com
Visit www.AnnapolisHomes4You.com
Blog AnnapolisHomes4You.blogspot.com

Please Don't Forget to Show Your Support for Our Troops!

NAR: Mortgage Conditions Bode Well for Housing

As reported in REALTOR Magazine OnLine's Daily Real Estate News on October 10, 2007. Conditions in the mortgage market are improving for consumers, which should help to release some pent-up demand in early 2008, according to the latest forecast by the NATIONAL ASSOCIATION OF REALTORS®.

Lawrence Yun, NAR vice president of research, notes that widening credit availability will help turn around home sales. “Conforming loans are abundantly available at historically favorable mortgage rates. Pricing has steadily improved on jumbo mortgages since the August credit crunch, and FHA loans are replacing subprime mortgages,” he said.

Yun said it’s important to place the current housing market in perspective, Read More

REALTOR Magazine OnLine's Daily Real Estate News on October 10, 2007 also reported:

Mortgage Applications Rise Despite Higher Rates

Mortgage applications rose last week after falling for three weeks, according to the Mortgage Bankers Association weekly survey.

The Market Composite Index, a measure of mortgage loan application volume, was 652.0, an increase of 2.4 percent on a seasonally adjusted basis from 636.7 the previous week. On an unadjusted basis, the index increased 2.4 percent compared with the previous week and was up 8.6 percent compared with the same week last year.

The refinance share of mortgage activity increased to 46.2 percent of total applications, while the adjustable-rate mortgage share continued to decline to 13.6 percent of total applications.

Overall, average mortgage rates increased:
30-year fixed-rate mortgages increased to 6.40 percent from 6.32 percent
15-year fixed-rate mortgages increased to 6.03 from 5.95 percent
1-year ARMs decreased to 6.15 from 6.21 percent

Source: Mortgage Bankers Association (10/10/2007)

Pat Ogle and The Annapolishomes4You Team
Champion Realty, Inc
410-224-0660
http://www.annapolishomes4you.com/
PatOgle@AnnapolisHomes4You.com

Your dedicated Real Estate Professionals in Annapolis Maryland , Anne Arundel County, the Maryland Eastern Shore, and the surrounding areas in Maryland. We specialize in Annapolis Relocation, Annapolis Real Estate, Anne Arundel County Real Estate, Arnold Real Estate, Severna Park Real Estate, and Edgewater Real Estate. We specialize in Annapolis Waterfront Real Estate, Arnold Waterfront Real Estate and Severna Park Waterfront Real Estate.

10 Cities Where It's a Great Time to Buy

Found this artlice at the REALTOR Magazine Online

Daily Real Estate News October 9, 2007

10 Cities Where It's a Great Time to Buy

The real estate business may be facing a softening in sales, but there are parts of the country where it makes sense to buy now. Forbes magazine examined current home sales patterns and sales projects in the country’s 40 largest real estate markets to identify these attractive markets.Based on models that estimated 2008 housing inventory, sales rates, and turnover, the magazine compiled a list of markets that are experiencing price declines, but where buying looks attractive because there is likely to be an increase in sales in the near future.Here are Forbes’ and Moody’s 10 most attractive markets, along with the median homes sales price and their price change from 2006.

Fort Worth, Texas: $156,500, 1.7 percent
Kansas City, Mo.: $157,700, -0.7 percent
Houston: $154,900, 1.4 percent
Cleveland: $128,700, -7.1 percent
Denver: $255,200, none
Long Island, N.Y.: $482,300, 1.7 percent

Washington, D.C.: $445,300, 0.3 percent

Orlando, Fla.: $265,100, -2.4 percent
Phoenix: $264,800, -2.7 percent
Las Vegas: $307,900, -3.6 percent

Source: Forbes, Matt Woolsey (10/08/07)

Pat Ogle and The Annapolishomes4You Team
Champion Realty, Inc
410-224-0660
http://www.annapolishomes4you.com/
PatOgle@AnnapolisHomes4You.com

Your dedicated Real Estate Professionals in Annapolis Maryland , Anne Arundel County, the Maryland Eastern Shore, and the surrounding areas in Maryland. We specialize in Annapolis Relocation, Annapolis Real Estate, Anne Arundel County Real Estate, Arnold Real Estate, Severna Park Real Estate, and Edgewater Real Estate. We specialize in Annapolis Waterfront Real Estate, Arnold Waterfront Real Estate and Severna Park Waterfront Real Estate.

Who Are You?

Here's a quick post to introduce myself. I'm "Sleeping Beauty's Sister" and I'll be your guest host once a week. I'll be popping in to drop my thoughts on life, after all there's only so much real estate a person can take, right? If you have a question about living in Annapolis feel free to post a comment and I'll put the answer in my next post. If you just enjoy reading my ramblings post a comment about those too and let me know what you think. While you wait hungrily for my next installment feel free to get your fix at my blog, http://sleepingbeautyssister.blogspot.com . All posts guaranteed to make you smile.

Understanding The Mortgage Crisis

The following video by Jon Coile President of Champion Realty, Inc. is the best explanation of the current mortgage crisis I have seen. Once you have seen it you will understand what is taking place. http://champion411.com/mortgage.html

Pat Ogle and The Annapolishomes4You Team
Champion Realty, Inc 410-224-0660
http://www.annapolishomes4you.com
PatOgle@AnnapolisHomes4You.com

Your dedicated Real Estate Professionals in Annapolis Maryland , Anne Arundel County, the Maryland Eastern Shore, and the surrounding areas in Maryland. We specialize in Annapolis Relocation, Annapolis Real Estate, Anne Arundel County Real Estate, Arnold Real Estate, Severna Park Real Estate, and Edgewater Real Estate. We specialize in Annapolis Waterfront Homes, Arnold Waterfront Homes and Severna Park Waterfront Homes.