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Laura Key 6/19/13 Laura Key 6/19/13

Bankruptcy And Buying A House - Is It Smart To Buy A House After Bankruptcy?

Each year, millions of people file bankruptcy as a means of erasing their consumer debts. While this approach may relieve stress, a bankruptcy is damaging, and will hang over your head for the next ten years. Still, it is possible to overcome bankruptcy. The key is making smarter financial and credit decisions. With this said, some people choose to purchase a home after a bankruptcy. Here are a few pointers to consider when buying a home.

Each year, millions of people file bankruptcy as a means of erasing their consumer debts. While this approach may relieve stress, a bankruptcy is damaging, and will hang over your head for the next ten years. Still, it is possible to overcome bankruptcy. The key is making smarter financial and credit decisions. With this said, some people choose to purchase a home after a bankruptcy. Here are a few pointers to consider when buying a home.

Reasons to Delay the Buying Process after Bankruptcy

If you consult with mortgage or financial experts, they will likely discourage you from buying a home following a bankruptcy. After your bankruptcy is discharged, there is a black cloud that looms over your credit report.

When any prospective lender reviews your report, they will be notified of your recent or past bankruptcy. In some instances, this justifies an immediate denial. On the other hand, there are lenders eager to help you establish or rebuild your credit. Thus, they will approve a loan request. Nonetheless, the penalties are steep.

Higher mortgage rates can be anticipated when purchasing a home after bankruptcy, especially if you have not established other credit accounts. Mortgage lenders consider two factors: credit scores and credit reports.

Although a bankruptcy appears on your credit report, having a high credit score will increase your odds of getting a comparable rate. Unfortunately, if you buy immediately following a bankruptcy, you will not have the opportunity to boost your score.

Reasons to Buy a Home after Bankruptcy

Lenders will approve mortgage loan applications one day following a discharge. Therefore, it is possible to get a home after a bankruptcy. Buying a home is perfect for rebuilding credit. Moreover, it is the quickest way to increase your credit score.

After a bankruptcy, the average person has a credit score below 600. Good credit consist of credit scores 650 and above. Maintaining current mortgage payments will gradually increase your score. After two years of regular payments, you will have established a good payment history. Hence, you may qualify for a low rate refinancing, which may lower your mortgage payments.

Ready to search for your new home? Start here!

Laura Key 5/19/13 Laura Key 5/19/13

3 Ways Renters Lose Money

Are you still renting a home or apartment for yourself or your family? If so, you're losing money. Besides losing out on making money with real estate, renters don't get the same satisfaction of home enjoyment that benefits home buyers. If you're renting, call me today to find out how to to buy your own home. Call me today! Laura Key 310.866.8422

Are you still renting a home or apartment for yourself or your family?

If so, you're losing money. Think about these three ways you lose money by renting:

1. You're paying for someone else's mortgage payment. You're missing out on the appreciation that the property gives to the landlord. Appreciation is a term used in accounting relating to the increase in value of an asset, which means in real estate terms, added value to the property. Over the past five years, houses appreciated significantly, making many new real estate investor multimillionaires.

2. Renters don't get to freeze their monthly housing expenses like home buyers can. Of course, many home buyers get mortgage payments with adjustable interest rates and their payments go up over time. However, these payments will not go up over the long term like rising rents. Just think about how much an apartment costs today compared to ten years ago. A two bedroom apartment in Lake Elsinore, California leases for $1,000 today. The exact same apartment rented for $325 in 1996, when it was brand new. Home buyers who had low monthly payments in 1996, who did not refinance their mortgage, enjoy low payments and don't have to worry about rising rents.

3. Renters don't benefit from tax advantages. Home owners get income tax deductions. Tax deductions for interest costs, for instance, save tax payers thousands of dollars.

Emotional Satisfaction of Home Ownership

Besides losing out on making money with real estate, renters don't get the same satisfaction of home enjoyment that benefits home buyers. Many landlords won't allow you to paint your walls in colors that you desire. Also, you won't feel like fixing up the property with custom window coverings and you get little say in flooring materials. Because you can't make your personal statement, you won't feel like you're HOME as much as home owners who feel emotionally connected to their property.

How to Buy Your First Home

The biggest barrier to home ownership is often accumulating funds for a down payment. People think they have to have thousands of dollars for a down payment. However, if you have good credit and a decent job, you can get a mortgage for a home with zero down. And you can finance some of your closing costs as well as ask the seller to help you pay a good portion of your purchase costs. With today's mortgage finance plans, you may be surprised to find out how much of a home you can afford with payments similar to what you currently pay in rent.

You may have to go out of the major metropolitan areas to buy a home. That's why so many people commute in Southern California. Affordable housing costs much less in outlying areas. But so do the rents. If you're renting an apartment for $2,300 in Los Angeles, you could buy a $500,000 home in Wildomar. Our daughter just purchased a home in December 2005 and her mortgage payment, for a 3,000 square foot new home, costs less than $2,300. With her tax savings, she will pay even less than renting a small apartment closer to downtown L A.

If these amounts sound high to you, check your local area. Perhaps your monthly rent is only $1,000 and houses cost less than $200,000. Talk to a mortgage loan officer and see how much of a home you can afford.

If you're renting, make one of your priorities to buy your own home.

Laura Key 5/4/13 Laura Key 5/4/13

Does HUD Offer Special Programs for Homebuyers?

Buying a HUD Home is not as difficult as you may think! I have helped many people purchase their 1st Home from HUD! Call me today for more details about the process! Laura.A.Key@gmail.com or Visit my website to sign up for FREE HUD Listings! http://www.KeyCaliforniaHomes.com

Yes, HUD offers a program called the GOOD NEIGHBOR NEXT DOOR PROGRAM for Police Officers, Firefighters, EMT and Teachers! Call for more details on this program! 310.866.8422. If foreclosures are not sold within six months, HUD will sell them for $1 each to approved nonprofit organizations and government agencies. Homes must then be used create housing for families in need or to benefit neighborhoods.

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Laura Key 5/1/13 Laura Key 5/1/13

Does HUD Offer Financing On Their Homes?

Buying a HUD Home is not as difficult as you may think! I have helped many people purchase their 1st Home from HUD! Call me today for more details about the process! Laura.A.Key@gmail.com or Visit my website to sign up for FREE HUD Listings! http://www.KeyCaliforniaHomes.com

HUD does not provide direct financing to buyers of HUD Homes. Buyers must obtain financing through either their own cash reserves or a mortgage lender. If you have the necessary available cash or can qualify for a loan (subject to certain restrictions) you may buy a HUD Home. While HUD does not provide direct financing for the purchase of a HUD Home, it may be possible for you to qualify for an FHA-insured mortgage to finance the purchase.

Laura Key 4/28/13 Laura Key 4/28/13

Do I Need An Appraisal On A HUD Home?

Buying a HUD Home is not as difficult as you may think! I have helped many people purchase their 1st Home from HUD! Call me today for more details about the process! Laura.A.Key@gmail.com or Visit my website to sign up for FREE HUD Listings! http://www.KeyCaliforniaHomes.com

It is not necessary to have a HUD home independently appraised, HUD offers an appraisal every 6 months. Your Lender may require a more current appraisal than the one provided by HUD. Ask your loan officer or HUD registered agent.

Laura Key 4/25/13 Laura Key 4/25/13

How Much Money Will I Have to Put Down on a HUD Home?

Buying a HUD Home is not as difficult as you may think! I have helped many people purchase their 1st Home from HUD! Call me today for more details about the process! Laura.A.Key@gmail.com or Visit my website to sign up for FREE HUD Listings! http://www.KeyCaliforniaHomes.com

If the bid price is less than $50,000, you’re required to make an earnest money deposit of $500. HUD homes priced greater than $50,000 require a $1000 deposit.

Laura Key 4/22/13 Laura Key 4/22/13

Should I Get A Home Inspection If I Am Buying A HUD?

Buying a HUD Home is not as difficult as you may think! I have helped many people purchase their 1st Home from HUD! Call me today for more details about the process! Laura.A.Key@gmail.com or Visit my website to sign up for FREE HUD Listings! http://www.KeyCaliforniaHomes.com

HUD does not warrant the condition of its properties and will not pay for the correction of defects or repairs. Since the new owner will be responsible for making needed repairs, HUD strongly urges every potential homebuyer to get a professional inspection prior to submitting an offer to purchase.

If you are interested in acquiring a HUD Home that is in need of repair, you may be interested in applying for an FHA 203(k) Rehabilitation Loan. When a homebuyer wants to purchase a house in need of repair or modernization, the homebuyer usually has to obtain financing first to purchase the dwelling; additional financing to do the rehabilitation construction; and a permanent mortgage when the work is completed to pay off the interim loans with a permanent mortgage. Often the interim financing (the acquisition and construction loans) involves relatively high interest rates and short amortization periods. The Section 203(k) program was designed to address this situation. The borrower can get just one mortgage loan, at a long-term fixed (or adjustable) rate, to finance both the acquisition and the rehabilitation of the property.

Will HUD make the repairs?

HUD homes are sold as-is. The new owner is responsible for all repairs and improvements.

Can I start improving on the property right away?

If HUD accepts your offer, you cannot make any repairs or home improvements until the escrow transaction has closed and title is recorded in your name.

Laura Key 4/19/13 Laura Key 4/19/13

Is There Anyway To Have My HUD Offer Considered Before Others?

Buying a HUD Home is not as difficult as you may think! I have helped many people purchase their 1st Home from HUD! Call me today for more details about the process! Laura.A.Key@gmail.com or Visit my website to sign up for FREE HUD Listings! http://www.KeyCaliforniaHomes.com

Owner occupants always have first priority; however, if there are not any bids after the 30^th day then bidding is open to all bidders (investors). All offers are due by the bidding date and the HUD system generally picks the highest and best offer.

Laura Key 3/7/13 Laura Key 3/7/13

HUD Launches First Fair Housing App

Everyone has the right to safe and fair housing! Buying or Renting it is a must in the Real Estate Industry! If you feel you have been unfairly treated make sure you take the proper action!

The U.S. Dept. of Housing and Urban Development (HUD) recently launched the first housing discrimination mobile application (app) for iPhone and iPad. Developed by HUD’s Office of Fair Housing and Equal Opportunity (FHEO) and Hewlett Packard (HP), the app uses the latest technology to provide consumers with a quick and easy way to learn about their housing rights and to file housing discrimination complaints, and inform the housing industry about its responsibilities under the Fair Housing Act.

In addition to facilitating real-time delivery of housing discrimination complaints to HUD, the app can be used by individuals researching their housing rights after a natural disaster, when power outages make the iPhone/iPad one of the few ways to access the Internet. The app also provides information about the fair housing complaint process, and allows the public to access HUD’s toll-free discrimination hotline and link to HUD’s fair housing website: www.hud.gov/fairhousing.

Follow me on FB for important and fun facts about Real Estate! www.Facebook.com/RealtyGoddess

Laura Key 2/21/13 Laura Key 2/21/13

'Nightmare On Elm Street' Home On Sale For Over $2 Million

Looking for a horrifying new place? The home from the legendary "Nightmare on Elm Street" movie can be all yours for just a little over $2 million -- and it’s not nearly as creepy as we imagined.

According to the listing by Redfin, the Los Angeles home has four bathrooms, three bedrooms, "designer closets,” and en suite baths. It’s completely modern with hardwood floors throughout and stainless steel appliances in the kitchen.

The current owner told AOL Real Estate that the home really was a nightmare when she purchased it in 2006. "It was the only house on the street that looked beaten up. The pool looked like it hadn't been touched in 10 years -- it was black," Angie Hill told the publication.

Hill has transformed the property into a dream... but the home still boasts the famous red door from the 1984 thriller, and we are half expecting Freddy Krueger to open it.

Maybe this home is a little too frightening for you? Call Laura Key to find your "DREAM HOME" today! www.KeyCaliforniaHomes.com

Laura Key 2/20/13 Laura Key 2/20/13

Is Your Home in a Buyer's or Seller's Market

As the overall housing recovery gains steam, local market divergences are growing wider. That is because one overriding factor —faulty and fraudulent mortgage lending — brought the market down; it will take varied local and national market drivers — jobs, income growth, consumer confidence, increased lending — to bring it back.

And that is why certain markets remain buyers' markets and certain ones have fast become sellers' markets.

Online real estate marketplace Zillow, defines a sellers' market as not necessarily one where prices are rising, but one in which homes sell faster, price cuts occur less frequently and final sale prices are close to or greater than list price.

Zillow ranked the top 30 markets and found that the formerly hard hit markets in California, Arizona and Nevada now rank as the top sellers' markets, which may seem counterintuitive, until you consider who the buyers there are now.

"Much of that strength is driven by investor interest, as many distressed and non-distressed homes are purchased and transformed into rentals," says Stan Humphries, Zillow's chief economist, in the report. "This investor activity is contributing to very low inventory levels, which increases demand and helps drive up prices, particularly for less expensive homes in these markets."

The best buyers' markets are equally surprising, with Chicago, Cleveland and Philadelphia topping the list.

These markets are still plagued by distress, despite the fact that their foreclosure numbers were lower during the worst of the housing crash. Investors are a far smaller share of buyers, as these markets don't offer the sun and leisure opportunities that the sand states do. Home prices are still suffering in these markets under still-tough local employment conditions. All that makes them less desirable for buyers. Stricter mortgage lending standards are also likely playing an outsized role, since most buyers in these markets would be owner-occupants.

The housing crash was the first fully national housing downturn in U.S. history. Usually housing downturns are local, spurred by some local phenomenon. Now that the overall economy is on the upswing, housing return to its roots and rises and falls on local factors again.

Source: CNBC —By CNBC's Diana Olick

Need to know how much your home is worth? Contact Laura Key today for a free Comparative Market Analysis! www.KeyCaliforniaHomes.com

Laura Key 2/19/13 Laura Key 2/19/13

Home Prices Surge Despite Distress

For nine straight months, national home prices have been in the positive, and the gains are only getting larger. The latest reading for November shows a 7.4 percent jump from a year ago, according to CoreLogic. That includes sale prices of distressed properties, bank-owned homes and short sales. This is the largest year-over-year jump since 2006 when we were at the height of the housing boom.

"As we close out 2012 the pending index suggests prices will remain strong," wrote Mark Fleming, chief economist for CoreLogic in a release. "Given that the recently released Qualified Mortgage rules issued by the Consumer Financial Protection Bureau are not expected to significantly restrict credit availability relative to today, the gains made in 2012 will likely be sustained into 2013."

Some had predicted price gains of between three and five percent in 2013, but these numbers seem to indicate the market could outpace expectations.

While competition among investors for distressed properties drove home price gains in much of 2012, the non-distressed market appears to be catching up. Excluding distressed sales, home prices still saw a healthy 6.7 percent annual gain in November, and analysts at CoreLogic are predicting an even larger 8.4 percent jump in December.

"For the first time in almost six years, most U.S. markets experienced sustained increases in home prices in 2012," said Anand Nallathambi, president and CEO of CoreLogic. "We still have a long way to go to return to 2005-2006 levels, but all signals currently point to a progressive stabilization of the housing market and the positive trend in home price appreciation to continue into 2013."

Just six states, Delaware, Illinois, Connecticut, New Jersey, Rhode Island and Alabama saw annual price depreciation. New Jersey still has a huge backlog of distressed properties, as does Illinois. Arizona, Nevada and California are seeing big home price gains, as investors there continue to inhale properties to take advantage of the very lucrative rental market. Still, even excluding distressed sales, Nevada saw a 12 percent jump in home prices.

There are, however, still looming headwinds to home prices, as banks ramp up foreclosures especially in states that require these cases to go before a judge. That new inventory could slow price gains in those states. Inventory, or lack thereof, is the primary driver of much of these gains. There were just 2.03 million homes for sale in November, according to the National Association of Realtors, a 23 percent drop from November of 2011 and the lowest supply since September of 2005.

Some are concerned that low inventory and not increased demand is juicing prices faster than is healthy for the housing recovery. If prices start to outpace earnings and employment growth, and then more properties hit the market this Spring, these gains could take a U-turn.

Source: CNBC by By: Diana Olick

Buyers are starting to have a hard time finding the homes they need! Let me help guide you through the market to help you obtain the home you need before prices go to far! Laura Key www.KeyCaliforniaHomes.com

Laura Key 2/18/13 Laura Key 2/18/13

New Housing Fears: Home Prices Are Rising Too Fast

"For Sale" signs may seem like an eyesore to neighbors on any given local street, but the lack of them is a much bigger problem.

Just 1.82 million homes were listed for sale in December, according to the National Association of Realtors. That is a 22 percent drop from a year ago and the lowest supply since May of 2005, when words like "boom" and "bubble" followed the word "housing." At the current sales pace it would take just 4.4 months to sell those homes.

"The greatest concern in the market is the inventory situation," said Lawrence Yun, chief economist for the NAR. "Even if we see an increase in the Spring and Summer, if home sales hold at the [current] level or even a 5 to 6-month supply, price increases are guaranteed. We don't want to see rapid appreciation in prices faster than income."

The reasons for the low supply are varied, and the low numbers are in fact feeding on themselves. If potential buyers can't find something to their liking, they will probably not list their homes for sale.

There are also still 10.7 million borrowers who owe more on their mortgages than their homes are worth, according to the latest report from CoreLogic. An additional 2.3 million have less than five percent equity in their homes, referred to as near-negative equity. Most of these homeowners are stuck in place, unable to sell unless they can afford to pay in to their mortgages. As for new supply, even though builders are increasing starts, they are still not even at half the pace they were at the height of the housing boom.

As a result, home prices are now rising more and faster than most analysts predicted due to this short supply, up 7.4 percent year-over-year in November, according to CoreLogic. They are especially surging in some of the hardest hit markets from the housing crash, where large-scale investors are swarming with cash in hand. In Phoenix, home values jumped nearly 32 percent from a year ago in November and are now at the highest level since October of 2008 according to DataQuick. While still 39 percent off their boom-high in June of 2006, they are now up 41.5 percent from the bottom, and there is not much on the market.

Healthy housing market gains are historically driven by increasing employment and income, not by lack of supply; the latter leads to price bubbles. First-time home buyers, who generally account for 40 percent of the home-buying market or higher are still under-represented at just 30 percent, according to the Realtors. This is due to tighter credit conditions in the mortgage market and now decreasing affordability.

December's disappointing drop in home sales, month-to-month is a clear warning for the housing recovery going forward. Rising home prices are not the sole measure of a healthy market. Supply and demand need to fall closer in line, and a robust economic recovery should be driving both home sales and prices.

Source CNBC —By CNBC's Diana Olick;

Prices are rising rapidly. Wondering if you can buy before they get too high? Call Laura Key today for a free consultation! www.KeyCaliforniaHomes.com

Laura Key 2/5/13 Laura Key 2/5/13

Beginning Your Home Search

Once you've determined that you're ready to buy, it's time to begin thinking about where you want to look. You'll find there are many questions you must answer about the type of house you want to purchase. For example, are you interested in an older home or a new one? How big of a home do you need? Would you like to move closer to certain major roads or freeways? Your REALTOR® can answer many questions about the homes and communities you're considering, and in the meantime, there are myriad resources available for you to begin your research. Location Is Everything

Do you want to live in a particular city or neighborhood? If you're a parent, you're probably considering school districts and other child-friendly options like the proximity to parks. If you're relocating to an unfamiliar area, you can contact the city or county government for information about the community. It's a good idea to investiage crime statistics per neighborhood when you're narrowing down the areas of your home search.

Or perhaps location is the reason why you're buying in the first place -- to move closer to your work, your spouse's work or your extended family, or to live within a particular school district's zone. As you're probably aware, the location of your home can have a dramatic effect on its price.

Size Matters

You may have experienced growing pains in your current home, which prompted you to pursue buying a new abode. Or you're entering a self-employed profession and need a home office. Consider all your space requirements before you start searching for a new home. There's no reason to waste time looking at two-bedroom condos when you really need a four-bedroom house.

Locating Listings

Once you've narrowed down the specifics of your ideal home, where do you find listings? Your REALTOR® has access to thousands of listings in your area through the Multiple Listings Service (MLS). He or she will help you find available homes that meet your criteria. Or, you can start your home search by calling Laura Key at 310.866.8422

Source: CAR (California Association of Realtors)

www.KeyCaliforniaHomes.com ● Laura.A.Key@gmail.com

Laura Key 1/28/13 Laura Key 1/28/13

Thinking of Buying A HUD Home? Part 1

Ok, so it's 2am and you can't sleep. You are flipping through mindless and endless infomercials trying to figure out why the sandman has not visited your home and you come across a commercial that says "BUY A HUD HOME FOR $1 - JUST SEND US $19.95 for a complete list of listings!" Ok, it sounds too good to be true, you figure $19.95 is not that much to spend and I was thinking I am ready to purchase home!

Let me save you the money and explain to you a little about HUD homes. There is no special list and there are homes available for a special price but buying a HUD home for $1 is a way to catch your attention and if there is one, believe me, it is only for a special group of people or organizations.

HUD homes are an excellent way to purchase your first home, heck you can even buy a HUD home if you have purchased before. HUD's are usually FHA approved which means you can obtain a loan with only 3.5% down. And in some areas, HUD runs a wonderful incentive for buyers by offering only $100 for the downpayment. Be aware, that program is not in all states and areas but it is out there! I have closed quite a few! But I digress....HUD homes are generally a good value, most of the time they are priced a little lower than the value in the area, but if it's been on the market a while and they have lowered the price a few times, you have magically walked into a bit of equity! (NICE PERK)

What is the difference between a HUD home and a foreclosure. Not much really...a HUD home is a home that was financed by a government loan and if someone lost a home, they buy it back from the lender so it becomes a government home. Foreclosures are generally, not not always, homes purchased with a conventional loan.

Buying a HUD is a bit different. There is a bidding period. You will need a registered real estate agent to perform the process for you. (Shameless plug....contact me at Laura.A.Key@gmail.com) You do not know how many bids are in the system and once the bidding process is done and you are determined the winner, you will be on a timeline to get the paperwork into the correct people.

But Laura, my Realty Goddess....what about the $1 HUD homes? There are special programs out there to help non-profits and special people who serve our community. The $1 homes (if any) are usually presented to the non-profits. The special programs are usually offered to the following: Police Officers, Teachers, EMT's and Firefighters. Those homes are won on a lottery bidding system.

*This ends Part 1 of "Thinking of Buying a HUD Home" tune in to the next episode where we will discuss the bidding progress and steps to closing the deal.

Contact me with any questions you may have! Laura.A.Key@gmail.com

www.KeyCaliforniaHomes.com

*By Laura Key, please do not use without permission.

Laura Key 1/24/13 Laura Key 1/24/13

Great Los Angeles HUD Home!

3 Bed 3 Bath 2 Car Garage - $616k - Click Photo Below for Virtual Tour SINGLE FAMILY HUD HOME IN MOUNT WASHINGTON AREA OF LOS ANGELES*** GREAT VIEW HOME IN A SECLUDED AREA OF LA. THIS INCREDIBLE TRI-LEVEL FEATURES 3 SPACIOUS BEDROOMS INCLUDING A LARGE MASTER SUITE, A LARGE LIVING ROOM, DINING AREA AND A KITCHEN WITH DARK WOOD CABINETRY AND GRANITE COUNTERS. FOREVER VIEWS FROM TWO BALCONIES, A NICE PATIO AND A FRUIT ORCHARD. EASY ACCESS TO DOWNTOWN AND THE VALLEY VIA THE 5, 110 AND 134 FREEWAYS. THIS HOME HAS TREMENDOUS POTENTIAL FOR THE CREATIVE HOMEOWNER. DON'T MISS THE BEST BUY IN LOS ANGELES TODAY!

Contact me to schedule a showing!

Laura.A.Key@gmail.com

www.KeyCaliforniaHomes.com

Owner Occupied Bidding Ends Feb. 1, 2013 - Investors can bid after that date!

Laura Key 7/31/11 Laura Key 7/31/11

Los Angeles BABY....

I made it! Road dust behind me, new beginnings before me! I was one tired Realty Goddess there for a minute! I had the pups as my road warriors and we had some good fun but now we are now in "LaLa" land. Our first night was off to a bumpy start. When we arrived I had to find a hotel. I was surprised to see most of them charge up to $25 extra for each dog! REALLY??? They are Shih Tzu's people! Both of them together don't make one medium dog! We got past that hurdle...thank God for www.hotels.com!

After some really good rest and relaxation I was ready to hit the day. Time to find a place to live! I got up early, hit the craigslist posts and lined up my day! Going from homeowner to renter is quite the shock. Especially in LA where you pay more in rent than you do for your mortgage and you only get a fourth of the square footage.

First order of the day "Koreatown". I like the area but the parking situation is an eye opening experience. I found a few good places but how am I going to deal with two cars? Sigh...well, a couple of possibilities but no dice just yet.

Today is North Hollywood (NoHo) and West Hollywood (WeHo). We shall see what the day brings!

You always hear stories of the traffic in LA. Yes it's pretty bad, I was in traffic at 9:30pm on a Saturday night, but for right now I am cool with it. We will see how I feel about it when I have appointments to get to! We will save that story for another day.

I have been told by many people that I need to put my "LA" face on. Everyone who knows me also knows I have a soft heart and I still have the Prospect, Ky mentality. I don't really know what an "LA Face" is right now. I just know I hit the ground running and found I needed to still step up my speed a little bit! (smile)

It's alright, this Realty Goddess is protected by much larger hands than people know!

Peace, love and blessings from the Realty Goddess!

Follow me on twitter, facebook, google+ and foursquare! Maybe we can share some laughs and smiles along the way.

The Realty Goddess is Moving from Denver to Los Angeles (realtygoddess.wordpress.com)
The Other Side of the Coin...Realty Goddess Goes Landlord (realtygoddess.wordpress.com)
Countdown to Los Angeles...Going with Love (realtygoddess.wordpress.com)

Laura Key 7/22/11 Laura Key 7/22/11

Other Side of the Coin Pt. 3...Realty Goddess Turns Landlord

Renting our home has become quiet an adventure! I scheduled three showings on one day. I try to keep the showings to a certain window time just to keep the madness down a bit.

There are PRO's and CON's of living in our house while it is being advertised for rent. Pro's...I am here most the time so if I put an Open House sign outside people can just come on in. Con's...I had to put a sign on my door that says "do not disturb the occupants" for the times we will not be showing. Someone actually rang our bell at 8:45pm one evening asking to see the house! People are amazing!

What I am slowly realizing is this...I am having a hard time taking myself out of ownership. I notice when I show our HOME I have a story to tell about our house. I know our neighbors, I love this neighborhood and this little red brick house is a place full of memories. Brick, mortar, nails and wood are what constitutes a physical house, but what YOU put in it makes it a home! This is what is making it so hard for me. Renters come in, they walk through, they have their comments (all good so far) they open closets and cabinets and it feels...well, it feels...SO BUSINESS. Stiff and stale. I can't wrap my head around that. Even though this will not be owned by our renters, I want to know they will have wonderful memories of the time they spend here. I want them to care and love our home and treat it with the respect it deserves. Gosh, I am such a hopeless romantic even with houses!

When I have buyers, that is what I picture for them. Memories, love and laughter, a place where you come and lay your burdens down. A place to cherish and relax. Is it so wrong to want that for my renters as well?

It all boils down to this...it does not matter if you own or rent...EVERYONE DESERVES A WONDERFUL PLACE TO CALL HOME!

Our home has not found its perfect fit yet, but I know it's calling out to the right ones. Showing our home has made me cherish my memories even more. Every Christmas we had major family dinners, sang around the piano, decorated our home, baked cookies for our neighbors and loved ones. We were the home to "BE" for the holidays! We raised our child here, had BBQ's, supported our neighborhood. We laughed, cried, sang and danced here. So I am taking this time to reflect on these things and I am letting the blessings wash over me daily. It is my hope that the next occupants have the same wonderful feelings we had over our nine years here.

Now if we could just decide on a property manager....UGH!

For now, we keep showing and interviewing....tune in next time for the next exciting episode of Realty Goddess Goes Landlord.

Blessings, peace and love from the Realty Goddess!

Follow me through this blog, twitter, facebook, google+ and foursquare. We will share laughs and love along the way!

Laura Key 7/20/11 Laura Key 7/20/11

Other Side of the Coin Pt. 2....Realty Goddess Turns Landlord

Alright, I must admit, the shaking and sweating has not really stopped since my last post. Now that I am on the other side of the coin, I can REALLY put myself in my client's shoes.

Let me tell you where we are. I have made a virtual tour of my home. Wanna see it? http://www.zingding.com/856585 There you go! Ok, so I am advertising and showing my precious little home. Being in the business, I know how important it is to have a good property manager. Little did I know just how hard that would be. We have interviewed four and three out of the four actually followed up with us. Every property manager sees things differently and only two of the four belong to NARPM. That's the National Association of Residental Property Managers. http://www.narpm.org/

When working with Property Managers, it's important to know they will be working for YOU. So ask for a copy of their property management agreement before signing anything. Ask questions, do your research, do NOT just pick the first one you find. Do they run credit checks, what are the up-front charges, do they handle payments electroncially, can they handle evictions if things go wrong, will they help in finding good repair people for issues and if so is there a cap on getting those done with your approval...(whew, see what I mean?)

You will need to make sure all possible tenants are screened appropriately. It's important you know the rental history and credit history of the person living in your home! I get conflicting info on this but I feel it's important to do a background check as well, but that's the HOMEOWNER SIDE OF ME!

Will you take pets? If so, will there be limits to what kind, size, how many? Will you require a full months deposit? Will the tenants be responsible for utilities? These are just a few of the questions you will have to answer if your decide to rent your property out. Be prepared!

Alright, so we are showing our home now. I have had about 500 hits on my virtual tour. (yes rental vacancy rate in Denver is about 1.4%; VERY LOW) I have now shown my home to about 15 people but I have no applications as of yet. That's ok, it's only been advertised a few days. In my case, I am the one showing my home. That has been an interesting adventure. Tenants want to tell your their background and negotiate immediately but I have to step back, take a deep breath and say, you will have to fill out an application, write a letter if you want to explain anything that might pop up and do the proper procedures for an application. I show leasing property all the time but now I have to remember that the same procedures apply even though this is MY home. I am still Laura Key, REALTOR®, (that's Realty Goddess to the world) and that means I have ethics and housing laws to uphold. I stand by my profession and I will uphold all my duties. I LOVE my job and I want to keep it, nothing unethical is worth risking my license.

So bring it on....it's a new journey and a new adventure. I shall keep you updated as we go along.

To be continued.....

Follow me on this blog, twitter, facebook, google+ and foursquare. Maybe I will make you smile a little during your day, maybe I have some education for you or maybe I can just allow you to take a little breather from your hectic day! Love, blessings and peace from the Realty Goddess!

Laura Key 7/19/11 Laura Key 7/19/11

The Other Side of the Coin...Realty Goddess Goes Landlord

I have been in Real Estate for five years now. It's had it's up's and it's down's but I really can't see myself doing anything else (besides singing of course) I love people! I love helping others start new chapters in their lives. My clients become my "friends" and I have experienced wonderful things in this career. I've seen babies born, marriages, retirements, and everything in between that cause changes in other's lives. I pride myself on repeat business and referrals! I have counciled people on the hardships of facing foreclosure, living through a short-sale and relocations.

One thing I have just “dabbled” in is rentals.

Enter the “Jaws” theme song……

When I joined my current company, Cliffdwellers Real Estate (www.Cliffdwellers.net) I came in with a STRONG wind! I think I might have frightened my managing broker, Tony Cline. I am pretty wild in spirit! Cliffdwellers also does property management for the Denver Downtown area and manages over 200 properties. With that being said, one thing I was not too excited about was doing leasing. I never really wanted to try it, I only wanted to be a listing and buyer’s agent.

In the last year, I started doing leasing reluctenly. For some reason “renters” and I just did not have the “relationship” that a buyer or a seller and I experienced. I'd make appointments, confirm them and find myself standing outside for 30 minutes waiting for people who just did not show up! Ah, yes, leasing is a different type of beast in real estate.

However with the housing market being what it is right now, there are more renters than buyers. Long story short….I jumped in the renters pool - both feet first. Slowly I got my groove, I had a plan and before you know it I was helping renters find a cool place to live and opening new doors in my business. I am proud to say I have opened another door to my future and have also created more friends in this new avenue. Why are some things so scary at first, then you conquer them and look back and say….Oh, what was I so afraid of?

Enter a NEW ROAD! (Now you must sing “follow the yellow brick road” in your head) Can you see that music is the soundtrack of my life? But I digress….

As everyone knows now, we are moving to Los Angeles in just a few short weeks. We currently own our little red brick home. We have made memories here, we have touched every single room and made it ours. We take pride in our house and LOVE our neighbors. So, what to do, what to do????

It would not be wise to sell our home in this market, so now the Realtor becomes the Landlord! Time to rent! Now my knees are shaking, I’m wiping sweat from my brow and I am a bit sick to my stomach. It’s so easy to guide others in my business. I’ve worked with investors many times over. Fix and Flip (no problem) Fix and Rent (no problem) BUT MY HOME….PROBLEM!

(To be continued….Tune in next time for the adventures of the Realty Goddess turns Landlord)

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