HOW AN EXTENDED GOVERNMENT SHUTDOWN WILL AFFECT REAL ESTATE BUSINESS

HOW AN EXTENDED GOVERNMENT SHUTDOWN WILL AFFECT THE REAL ESTATE BUSINESS

One may ask, how is this possible? The government shutdown occurs when the Congress or the President fails to pass bills and appropriations for funding government operations and agencies. This is what has happened in the United States in the last two days. It's over now, and the government workers are supposed to return to work as usual and continue to deliver to the citizens. Many businesses would have been affected if the shutdown had continued for a longer period. Real estate business is one of the sectors which would have been largely affected.

Mortgage Approval

One of the effects of the shutdown is that mortgage approval will be delayed until the government resumes normal operations. This, in turn, will mean those in mortgage business and other home buyers who apply for housing securities in government agencies (of which most are) will have to hold their horses till then. The business will go down, and so will the sales.

The government shutdown will result in the delay of closings while most transactions will be terminated as a result of this. In other cases, home sellers will lose bids because their clients are no longer sure of the fate of their business.

The shutdown will also lead to losses because home buyers will reduce their offers due to the uncertainty. FHA or VA mortgage applicants may also face delays if and when departmental workers will be sent home, and there is no one to process their loan requests. Also, the delay could occur when a lender needs to verify a Social Security number and there is no one to answer the phone on the other end. The borrower may be delayed due to such.

The Internal Revenue Service will have a few workers in the office. The workers will help to ensure that records are well maintained and updated as required and that systems are working as usual to record payment of taxes. Verifying information and processing mortgage requests is not essential, so the workers will have to go home. This means no mortgages will go through, thus affecting home buyers as well as home sellers.

Application for a mortgage requires clearance from the Internal Revenue Service which documents and passes the information to the lender about the borrower's financial capabilities. This service will come to a halt because government offices won't be operational.

Businesses in St. Louis, Missouri will also be largely affected. People who visit St. Louis for family outings and historical tours will not be able to do so because most housing businesses will be shut down, and government agencies for clearance and giving access will be closed.

The Visitor Center at the Arch and the Old Courthouse could remain closed because they are government-sponsored agencies.

This means that buying a home at St. Louis will be hard and may take a long time hence causing inconvenience to most of the clients. When many government agencies stop their operations it is not one sector that is affected since they are interconnected in a way. Actually when a few are shutdown many more or all government agencies will be closed.

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8 Items To Check Before Buying A Home

8 Items to Check Before Buying A House

Buying a house is a big investment. Deciding to purchase a house is not a decision that anybody takes lightly because of the costs involved. You want the perfect house, a house that will be your home for years to come. If you are looking for your perfect house in St. Louis, we will be happy to help you out, please visit the Helderle team at www.realestatetrio.com.
It is easy for homeowners to fall in love with the house before they even tour the inside. When you find a house that has the perfect yard, the right number of rooms in a layout that you love and a great location, it is easy to forget that what is below the surface is just as important as the curb appeal and the interior of the house. Buying a house on looks alone can be a very costly mistaking, adding a huge cost on top of an already large sum of money that the homeowner has committed to.
Yet, many homeowners have purchases houses based on the looks along and then need to spend thousands of dollars in repairs shortly after buying the house. You do not want your dream house to turn into a money pit so you always need to check out several important features prior to buying a house. It is a common misconception that you only need to carefully inspect older houses. Do not be lulled into that line of thinking! Newer houses are just as prone to having problems as older ones. It is important to check the items on this list for both new and older houses.
By taking a look at several key areas in the house that are prone to becoming a problem areas, you can help to determine if this is the house that you want and if you should go ahead and pay for the cost of a house inspection or if you should keep looking at houses. If you are having trouble finding a house that is right for your family, contact the Helderle team at www.realestatetrio.com, they know St. Louis and the surrounding area and can help you find a house that suits your needs at the best possible price. 10 Essential Items To Check Before Buying A Home.
Avoid the necessity of paying for costly home repairs shortly after moving into your new house. These ten items are very easy to check when you are looking at a potential home for your family. Taking the time to do these will save you money in the long run. If the current homeowners are reluctant to let you check any of the following, that is a huge red flag.
Test the tap water – Not all water is created equal, especially if it comes out of pipes that are old and corroded. A quick sip of water can tell you if you might need to redo the plumbing. By filling a clean, clear glass with water, direct from the tap you can see if the water is clear, and you can taste it to see how it tastes. Sometimes off tasting water is due to the city water supply, but it can be from old pipes. At any rate, if the water tastes or looks off, you know to take a close look at the plumbing.
Check the drains – Sewer line backups are common problems, especially in areas where there are lots of trees or with older pipes and water lines. This is fairly easy to check for; fill up the tub and a few of the sinks and then let them drain at the same time. If the water line is bad, you will be able to easily tell. Check the faucets – Try all of the faucets in the house to make sure that they are all working and no leaks. Check to see that the stoppers work as well.
Check the windows – This is often overlooked and replacing windows in a house can be costly. Check to see that the windows actually open without problems and that they are without cracks or other issues. Check the Fireplace – Ask to start a quick fire in the fireplace to see if the fireplace drafts correctly. Ask the family when the last time the chimney was cleaned; it is usually just the matter of giving it a good cleaning to get it back in good working order.
Check the AC/heat – Turn on the AC and the heat to make sure that they work. It will save you time and money to make sure that they are working before you move in. Let them run for a bit to make sure that they work well, not just turn them on and turn them right back off.
Check the toilets – Put a little bit of toilet paper in each of the toilets and flush them to ensure that they work well. Sticky handles are a fairly easy fix but toilets that back up with a little toilet paper are a bigger issue.
Check the electrical panel – If the electrical panel is nicely labeled, that is a good sign. Look for a wire that look loose or frayed, that is a serious concern.
Check the basement – Is the basement damp? Mold is a big concern to take a close look at the basement to make sure that there are no issues with dampness and moisture.
Check under the carpet – Because they want the carpets to look nice for potential buyers, some owners may not let you do this, but it does not hurt to ask to see if you can pull up a corner of carpet in a closet to check the quality of the floor underneath the carpet.
Are you a buyer looking for homes in the St. Louis area? Take the hassle out of buying a home by using trusted experts. The Helderle team of Realtors is here for you. If you have questions about buying property in St. Louis, we have answer for you; let us help you find your home today! Please visit us at www.realestatetrio.com; we know St. Louis and we are here to help you. The Helderle Team 2013 © All Rights Reserved

Why You Should Buy A Home Now

WHY YOU SHOULD BUY ANEW HOME NOW

You’re renting a home and beginning to wonder if you should maybe buy a home, consider what author, David Bach, tells us, "Most average homeowner’s are worth up to 35 times more than the average renter."
His advice is for renters to take action immediately and start saving part of their paycheck every month to help accumulate a down payment. He also encourages renters to borrow 10-20 percent less than what the bank is willing to lend; that way you’re only buying as much home as you can afford.
The longer you rent, the longer it may take you to eventually get into homeownership. If the market conditions have scared you, perhaps you're not looking at the other side of the coin. Owning a home becomes part of your investment portfolio, provides tax benefits, allows you to build equity (it still exists), and, if you buy now, you may get an excellent deal.
According to Market Watch , buying a home now can provide some real negotiating power to request improvements, price reductions, help with closing costs, and more. People can get almost everything they need and most of what they want today.
While poor market conditions have created a tough situation for homeowners across the country , the downturn has made the buying market ripe for buyers.. The affordability of homes is better than ever. The National Association of Realtors' housing affordability index concluded that homes in December of 2008 were more affordable than at any other point since 1970 (the start of the index). And with numerous foreclosures on the market and prices dropping in many areas, now is a good time to buy. But in order to make your purchase profitable, here are some things you should consider.
How long will you be in the home? Some experts advise that if you are planning to move within a year, buying may not be the best option because of the expenses associated with moving. However, if you're searching for a place to live for, at least, five years, buying now could be a good choice for you.
How much you can afford. Don't let tighter lending regulations scare you off from making a purchase. Instead, understand what you truly can afford. Don't get caught up in buying too much home. In fact, these days, the trend is moving toward smaller homes.
Mortgage rates have dropped to historical lows. How much home you can afford is affected by mortgage interest rates that, right now, are very attractive. Good credit, documenting your income, and a substantial down payment will make you a better candidate for better rates.
Freedom to choose. Now, unlike several years ago, the market has a large inventory in many areas. The market time to sell a home has increased which creates a large inventory of homes, everything including new, existing, and foreclosures properties. Buyers can search he market and have the freedom to select the home they really want. If you're interest is in a new home, know that many developers are getting more competitive with their pricing because they also have taken a hit by the ailing economy, and some offer special rates the first year or are offering closing cost assistance.
Quality of life. Buying a home can create a higher quality of life, giving you pride of homeownership, and something to enjoy over the years.
Tax credit benefit. The American Recovery and Reinvestment Act of 2009 provides for a $8,000 tax credit that would be available to first-time home buyers for the purchase of a principal residence on or after January 1, 2009 and before December 1, 2009. The credit does not require repayment. Most of the mechanics of the credit will be the same as under the 2008 rules: the credit will be claimed on a tax return to reduce the purchaser's income tax liability. If any credit amount remains unused, then the unused amount will be refunded as a check to the purchaser.

Wondering What Your Home Is Worth? Let Us Show You

Readying Your Home For Spring

Getting Your Home Ready For Spring
The H Team


Get your timers and clocks set ahead one hour. Daylight saving time is just around the corner and you’ll need to adjust any timers on household gadgets, indoor and outdoor lights, and those regulating the thermostats on your heating system.

Plant kitchen herbs inside and transplant in May when all signs of frost disappear. Basil, chives, dill, parsley, and fennel can be started from seeds. Oregano, rosemary, sage, savory, and tarragon do better if you start them from small plants or cuttings.

Change the batteries in your smoke detectors. In addition to testing batteries regularly, you should change these twice a year without fail.

Wash your windows. Clean the residue left behind by winter storms by tackling the job while the weather is still cool to prevent streaking. Start indoors before installing your screens, then finish the job outside on a dry day.

OUTSIDE:

Clean the deck to remove grime, pollen, fungus, and mildew. Scrub the surface with a deck cleanser or this homemade cleaning formula: Add one cup of powdered laundry detergent to a gallon of hot water, and add 1/2 cup of chlorine bleach to kill moss or mildew.

Check shrubs and trees for winter damage and prune accordingly. Remove deadwood or broken branches. Replant any shrubs that have heaved out of the soil during a freeze-thaw cycle, before the roots dry out.

Bring your garden hose out of storage. Check for cracks and leaks and replace the rubber or plastic washers at the connectors as well.

Service Lawn Mowers & Equipment Now is the time to inspect mowers and trimmers. Change the oil, replace spark plugs and sharpen the blades. If a unit needs repair getting it to the repair shop early will insure an early return
Spread Fertilizer and Weed Preventer Apply before the spring showers hit. Read manufacturers suggestions on application and warnings.

St Louis Association of Realtors Update

Pending Home Sales Show Healthy Gain
Reprint from SLAR News You Can Use

Pending home sales increased as more buyers took advantage of improved affordability conditions, according to the National Association of Realtors®. Big gains in the South and Midwest offset modest declines in other regions. The Pending Home Sales Index rose 6.3 percent to 87.7 from an upwardly revised reading of 82.5 in November, and is 2.1 percent higher than December 2007 when it was 85.9. Lawrence Yun, NAR chief economist, said the index shows a modest rebound. "The monthly gain in pending home sales, spurred by buyers responding to lower home prices and mortgage interest rates, more than offset an index decline in the previous month," he said. "The biggest gains were in areas with the biggest improvements in affordability."

To begin your search for your new home or to sell your current home contact The H Team today.