Tips To Prevent Identity Theft

A friend of mine was just a victim of Identity Theft. Someone got her my credit card number. They made 2 credit cards with her number on it and used these cards to charge $500 at Bed Bath and Beyond in Rockville, Md. At the same time (within 2 hours), they spent $500 at Walmart in Lakeland, FL. My friend discovered something was amiss when she went to use her card and it was declined.

The following is a memo from my friend’s attorney to his office staff:

1. The next time you order checks have only your initials (instead of first name) and last name put on them. If someone takes your checkbook, they will not know if you sign your checks with just your initials or your first name, but your bank will know how you sign your checks.

2. Do not sign the back of your credit cards. Instead, put "PHOTO ID REQUIRED."

3. When you are writing checks to pay on your credit card accounts, DO NOT put the complete account number on the "For" line. Instead, just put the last four numbers. The credit card company knows the rest of the number, and anyone who might be handling your check as it passes through all the check processing channels won't have access to it.

4. Put your work phone # on your checks instead of your home phone. If you have a P.O. Box, use that instead of your home address. If you do not have a P.O. Box, use your work address.

5. Never have your SS# printed on your checks. (DUH!) You can add it if it is necessary. But if you have it printed, anyone can get it.

6. Place the contents of your wallet on a photocopy machine. Do both sides of each license, credit card, etc. You will know what you had in your wallet and all of the account numbers and phone numbers to call and cancel. Keep the photocopy in a safe place. I also carry a photocopy of my passport when travel either here or abroad.

We've all heard horror stories about fraud that's committed on us in stealing a name, address, Social Security number, credit cards. Unfortunately I, an attorney, have firsthand knowledge because my wallet was stolen last month. Within a week, the thieve(s) ordered an expensive monthly cell phone package, applied for a VISA credit card, had a credit line approved to buy a Gateway computer, received a PIN number from DMV to change my driving record information online, and more.

But here's some critical information to limit the damage in case this happens to you or someone you know:

1. We have been told we should cancel our credit cards immediately. But the key is having the toll free numbers and your card numbers handy so you know whom to call. Keep those where you can find them.

2. File a police report immediately in the jurisdiction where your credit cards, etc., were stolen. This proves to credit providers you were diligent, and this is a first step toward an investigation (if there ever is one).

But here's what is perhaps most important of all: (I never even thought to do this.)

3. Call the 3 national credit reporting organizations immediately to place a fraud alert on your name and Social Security number. I had never heard of doing that until advised by a bank that called to tell me an application for credit was made over the Internet in my name. The alert means any company that checks your credit knows your information was stolen, and they have to contact you by phone to authorize new credit.

By the time I was advised to do this, almost two weeks after the theft, all the damage had been done. There are records of all the credit checks initiated by the thieves' purchases, none of which I knew about before placing the alert. Since then, no additional damage has been done, and the thieves threw my wallet away. This weekend someone turned it in. It seems to have stopped them dead in their tracks.Now, here are the numbers you always need to contact about your wallet, etc., has been stolen:

1.) Equifax: 1-800-525-6285
2.) Experian (formerly TRW): 1-888-397-3742
3.) Trans Union: 1-800-680-7289
4.) Social Security Administration (fraud line): 1-800-269-0271

This all makes good sense and we are glad to be able to share it with you. So, please protect yourself!

What Is Your Okemo Mountain Home Really Worth?

A new website claims to give the numbers in Okemo Mountain and beyond. Wherever you live, if you plan to buy or sell a home, one of the most important pieces of information you will need is the home's current value in reasonably accurate terms. Zillow.com is a new national website that purports to be able to tell you that so that you - uh - won't need a Realtor like me.

Well, I just read a good post on this by my friend Margaret Rome in Baltimore, Maryland and want to share it with you. It really says it all: "In the last few days, a new Web site launched with great fanfare but spotty performance. When CNN included a story about it on their evening news, the site couldn’t keep up with the hits. Why all the fuss? Zillow promises to give homebuyers and sellers up to date and complete information about the value of their home and comparables in their area.

Some have suggested this will make real estate agents obsolete because people will be able to price their own homes to be competitive. The early returns are that the site’s information is incomplete and sometimes wrong, which makes the suggested price ranges they give hard to justify. In some cases, the range is optimistically high, and for others, I’ve negotiated sales higher than their top amount.

The site depends on public records for its data. But public records will not show factors, like recent additions and improvements or the condition of the interior, that affect price. Public records can also be wrong; a friend of mine checked her house and said she wants that fireplace she’s supposed to have, but will not give up the second bathroom they didn’t count. If the information about a house is wrong, how valid is the price estimate? In time, the site will undoubtedly improve, but for now – caution.

There is no question about real estate agents becoming an endangered species because of this or any other site. Price is only one factor in buying or selling your home, and getting to the settlement table means avoiding traps and overcoming obstacles. A top agent will be experienced at:
negotiating the terms of your contract,
making sure only qualified buyers troop through your home,
meeting and dealing with appraisers, and
working with home inspectors and title companies to be sure you are protected from start to finish.

Buying or selling a home is an emotionally-charged transaction. Now more than ever it pays to have an experienced professional on your side. Embrace the benefits of new technology, but don’t fall into the trap of believing it will replace market knowledge and personal service.
The end of real estate agents? Not any time soon. Margaret"

Visit Margaret Rome's Blog here.

I am glad to provide you with a complete, accurate home evaluaton. Click here for your no-obligation report.

Chester Rental - Large 1 bedroom apt. on second floor - $625 per month, includes heat, hot water, trash and snow removal. No Pets! 1st, last and security required - credit check and references. Available May 1, 2006

Land in Cavendish

Small lot across the street from the Black River - bring your fishing pole. $29,900.

Springfield

Perfect for the first time homeowner: 3 bedrooms, 2 baths, 2 acres of land, fenced yard, deck in back - newer home. $124,900.

Plymouth

Location! Price! Views - End unit 3 bedroom, 2 bath condo located between Okemo Killington, updated 2003, low maintenance fees - priced to sell: $139,900.

Buying A Home…Investment or Emotion?

Hi. I have exciting news that I couldn't wait to share with you! Industry experts are reporting that right now, we as a people are optimistic about the future, and our confidence is reflected in the ongoing health of the residential real estate market, especially in Vermont. What this means is that this is a perfect time to be buying or selling a home.

Robert J. Bruss, nationally recognized Real Estate attorney and syndicated columnist, in his article "12 Ways To Earn Your First Profit When You Buy" says, "Treat every real estate purchase, especially houses, as an investment rather than an emotional purchase. ...it is very difficult to buy your personal residence without becoming emotionally involved. But the smartest homebuyers treat home purchases as both a place to live and a long-term investment."

I am pleased to be able to share my experience with my clients. I have developed expertise in finding sound investment properties that can also feel like home. My clients have found it helpful to have someone to guide them in their process of buying and selling homes.
I would like to be your REALTOR for life. To do this, I have to be at the top of my profession. I believe that you will find this to be the case.

As always, if I can answer any real estate questions for you, I would be happy to have you call, 802-226-8022 or e-mail, Irene@ISellVermontRealEstate.com. And please visit my website for all your Vermont real estate needs.

Earnest Money Means You Are
In medieval days, a father would send an entire herd of cattle as a not-too-subtle hint that his daughter be married into a certain family. Nowadays, when you've decided a particular home is "the one" for you, you can, thankfully, leave the cattle at home. You are asked, however, to deposit a small percentage of the sales price of the home you want to purchase--it's called "earnest money."Your earnest money is a good faith deposit that accompanies your offer. It is usually a personal check, but a short-term promissory note is sometimes acceptable. A sizeable earnest money deposit indicates financial strength and assures the seller of your commitment to purchase the property.Once your offer is accepted, your earnest money check is cashed and deposited with the title company, attorney or with the listing broker. Your funds are held in a separate trust account reserved only for earnest money deposits. In most cases, everything proceeds smoothly to the closing day when the total amount of your earnest money is credited to you as a portion of your down payment.Your earnest money is totally refundable if the offer is not accepted or if some condition in the contract is not satisfied. For example, your earnest money is refundable if financing is not approved with the terms specified in the contract.If you're thinking of buying a home, give me a call. It would be a pleasure to assist you in finding "the one" that you'd like to call "home." My knowledge of today's real estate market will assist you in making wise decisions in every step of your transaction.

Mount Holly - 20.14 Acres of land $129,900 including views!

Why you Should Use A Realtor

It's not unfair or unreasonable for consumers to ask
about the fees brokers
charge. Most people only buy or sell homes
infrequently, they are not
familiar with what brokers do or the complexity of
our work.

For these reasons, I often find it useful to explain
some of the time
commitments and financial costs that go into
transactions. I explain to
consumers that -- like them -- I need to make
certain assumptions, I based
the figures below on a $75,000 annual income and in
our market I expect
that a typical house will take 16 weeks to sell.

I also need to establish an hourly billing rate to
show the value of my time.
I've picked $40 -- not a lot in many metro centers
and perhaps not reflective
of my training and experience, but a reasonable
figure in the Knoxville area I
serve.

So how do the numbers add up? Let's take a look:

1.First Visit. It's important to visit with a
consumer. Figure one hour for
the first visit, $40.

2.Comparative Market Analysis. If I'm representing
a seller, or if I'm
helping a buyer bid on a property, then I need
to do a thorough
market analysis. This typically takes two hours
minimum, $80.

3.Listing Appointment, Measuring, and
Consultation. When a home is
listed, it's important to make certain that the
listing information is
correct, tour and home with the owner and
suggest "fix up" type
items to make the home more appealing to buyers,
and also to
review the marketing process with the owner.
Three hours, $120.

4.Sign and Lockbox. In some areas of the country
larger firms will have
specialists who install signs and lockboxes. In
our area, that's a job
for most licensees. Thirty minutes, $20.

5.Photography. I want to have a good set of
photographs for
prospective buyers and also for my records. In
this case, I have costs
for time, film, and development, or if you use a
digital camera there
are still costs for photo paper, discs, etc. $50.

6.Broker Open House. Because I have been active in
my market for
many years I may know of prospective buyers at
the time a property
is listed. However, owners are best served by
having the property
shown to a wide array of possible purchasers and
for this reason I
ask other members of the brokerage community to
view the property
privately. Given four hours of time,
refreshments and promotion my
cost is typically $385.

7.Advertising preparation and placement including
Internet exposure.
Real estate brokers are really local marketing
experts and part of the
marketing process involves paid advertising. It
takes time to write
strong ads and place them in appropriate media.
I allocate six hours
for this purpose, a total of $240 for my time.

There are various hard costs associated with my
marketing efforts. A
reasonable break-down might include:

*The preparation of 100 brochure box flyers and
their delivery, $39.00
for printing and two hours of time, a total of
$119.

*The cost of advertising can vary extensively,
depending on how long
a property is on the market, which advertising
venues are selected,
etc. In my market, figure a minimum of $72.

*Before you can advertise, you need to create
suitable materials.
With one hour of my time and the cost of
graphics, the cost is
typically $65.

*Graphics are great, but they need to be
distributed. It takes 30
minutes, $20.

*I have certain areas where I concentrate my
services, what most
people in real estate call a "farm." I write and
send out "Just Listed"
cards to my farms, an activity which takes three
hours and has some
minor costs, a total of $130.

*A major part of my marketing program involves
targeted distributions
by mail to my farms and to prospects who I feel
may be interested in
a listing. My stamp cost is about $42, an
expense that will rise
somewhat with the recent postal increase.

*A large percentage of all transactions involve
buyers brought in by
other brokers and salespeople. I produce special
picture postcards
for other brokers that are active in the area
where my listing are
located. It takes three hours and I have some
hard costs, so the total
is $168.75.

*For many listings I find it useful to install a
"Talking House" radio
transmitter. This allows individuals driving by
to obtain basic
information, something many consumers like. It
takes three hours to
write, record, and install a single "Talking
House," $120.

8.Communicating with clients is a top priority.
They want to know
what's happening, and I want them to be aware of
all changes and
contacts that may impact their transaction. Over
the course of a
listing, I estimate that 8 hours are spent
talking about market events,
showings feedback, and other calls with clients,
a total of $320.

9.One of the most time-consuming activities I face
is the matter of
scheduling appointments. It's often difficult to
arrange open houses
for individuals who are busy, or who may be in
town for just a few
days. Over the course of a listing I probably
spend 16 hours arranging
and holding appointments for prospective buyers,
$640.

10.It's good news when someone likes a property.
Their first instinct is
to go back and examine the home with care,
something to
encourage. I often spend 8 hours (over the
entire listing period) with
follow-up showings for a single home, $320.

11.Once a buyer elects to make an offer, we then
enter the negotiating
process. Depending on the particular property,
this activity can take
from 6 to 12 hours -- $480 to $960.

12.After a contract has been signed, there is often
a lot of follow-up work
required to assist the parties with the various
details needed to
complete the transaction. This process also can
take from 6 to 12
hours, $480 to $960.

13.In recent years it has become entirely common to
schedule a variety
of inspections and checks as a condition of the
sale. I typically meet
with mechanical inspectors (3 hours), termite
inspectors (1 hour),
and appraisers (1 hour) -- a total of five
hours, or $200.

14.If all goes well, and it usually does, we then
must prepare for closing.
I generally allot 1 hour to review closing
papers as well as 1 hour to
physically attend the closing, $40.

My costs? Between roughly $4,150 and $5,100 for a
home on the market 16
weeks.

At this point, someone will look at such numbers and
say, "wait a minute.
You sell homes with an average price of almost
$210,000. Commissions are
negotiable, but if you get what HUD allows for the
sale of its properties -- 6
percent -- then your fee is $12,600. Isn't that a
huge profit?"

The math here is fine, but the facts are not quite
accurate.

First, not all homes sell. Even for someone with my
experience, there is risk
every time a home is listed -- there are no "sure
things."

Second, I don't get all the money. If there is
another broker involved who
brings in a purchaser, he or she gets a portion of
the fee.

Third, even if there is no other broker involved,
the commission is typically
split between a broker and agent. Even in a 100%
commission company
like Realty Executives or Re/Max there are still
company fees that must be
paid in exchange for the agent keeping 100% of the
commission. Mine
average about $1,000 per month not counting any
other costs such as
advertising, marketing, etc.

These factors, and others, explain why there is a
lot of turn-over in real
estate -- and why individuals like myself work hard
and take risks to earn
our fees.

The Basic Six

Why does one house sell quickly for a stellar price while another has a "For Sale" sign in the yard for months? Is it luck? Probably not. The sales price and length of marketing time are determined by six basic factors. And you, as the seller, control four of them.

Location - Your neighborhood and your home's location within the subdivision are important. Does your lot border a golf course or a busy street?

Condition of Property - Is your home updated and well-maintained or does it need redecorating and repair? Is it "staged" to show at its best?

Terms - Can you carry a second mortgage? Is your loan assumable? Can you be flexible with closing and occupancy dates?

Market Conditions - How does the number of available homes (new and resale) compare with the number of buyers? Interest rates always affect the number of qualified, motivated buyers.

Price - Is your property priced correctly? A new listing receives the most activity during the first 3-4 weeks, so be sure to price your home correctly right from the beginning. Price is a very important factor that can offset other deficiencies.

Your real estate professional - The agent you select will make a difference. As an experienced, knowledgeable real estate professional, I will price your home correctly, market it extensively, and negotiate effectively on your behalf. If you're thinking of selling, please call me.

About Ernest Money


In medieval days, a father would send an entire herd of cattle as a not-too-subtle hint that his daughter be married into a certain family. Nowadays, when you've decided a particular home is "the one" for you, you can, thankfully, leave the cattle at home. You are asked, however, to deposit a small percentage of the sales price of the home you want to purchase--it's called "earnest money."

Your earnest money is a good faith deposit that accompanies your offer. It is usually a personal check, but a short-term promissory note is sometimes acceptable. A sizeable earnest money deposit indicates financial strength and assures the seller of your commitment to purchase the property.

Once your offer is accepted, your earnest money check is cashed and deposited with the title company, attorney or with the listing broker. Your funds are held in a separate trust account reserved only for earnest money deposits. In most cases, everything proceeds smoothly to the closing day when the total amount of your earnest money is credited to you as a portion of your down payment.

Your earnest money is totally refundable if the offer is not accepted or if some condition in the contract is not satisfied. For example, your earnest money is refundable if financing is not approved with the terms specified in the contract.

If you're thinking of buying a home, give me a call. It would be a pleasure to assist you in finding "the one" that you'd like to call "home." My knowledge of today's real estate market will assist you in making wise decisions in every step of your transaction.

If you would like to find out which properties sold in the area and for how much, I will be happy to send you the previous month's closings. Just send an e-mail to: Irene@isellvermontrealestate.com

Welcome to my Real Estate Blog for the Okemo Mountain Region. I will be posting different articles that pertain to Real Estate and also specific information that pertain to our region. Please feel free to visit my website for listings or post comments or questions on this blog.
I will also be adding closed and pending sales once a month, so please come, say hello and add your thoughts or comments.

Welcome to Okemo Mountain