Sales Tax Holiday Information

The Sales Tax Holiday, which runs from April 19-25, means a savings of at least 4.225 percent sales tax fee to people who purchase new ENERGY STAR ® qualified appliances in Missouri during the holiday. The reduced price represents the elimination of the state's sales tax from the purchase.
Several local governmental entities have also opted to participate in the holiday. This means that some purchases will be exempt not just from the state sales tax, but also city, county and special district sales taxes. Nine counties, 57 cities and eight special districts have opted to participate in the holiday. Anyone who buys a qualified appliance in Missouri that has earned the ENERGY STAR will be exempt from paying the state sales tax. ENERGY STAR is a joint program of the U.S. Environmental Protection Agency and the U.S. Department of Energy. The program allows manufacturers of appliances to voluntarily label selected appliances if they meet certain criteria. The goal is to promote appliances that perform as well or better than similar appliances while using less energy. The program has saved businesses and consumers billions of dollars since its inception in 1992.ENERGY STAR-certified appliances that qualify for the sales tax exemption are: Clothes washers Refrigerators Freezers Dishwashers Water heaters Furnaces Air conditioners Heat pumps The sales tax exemption only applies to the first $1,500 on each appliance. If an appliance costs more than $1,500, the regular sales tax rate is in effect for any of the purchase price above $1,500.Examples of appliances NOT eligible for the sales tax exemption are clothes dryers, trash compactors, conventional ovens, ranges and stoves. Lighting fixtures, office equipment, home electronics and other non-appliance ENERGY STAR labeled-products are also not eligible for the sales tax exemption. Counties that have opted to participate in the holiday and have eliminated their county sales taxes on qualified purchases are: Adair, Crawford, Daviess, Gasconade, Johnson, Morgan, Pettis, Ripley and Ste. Genevieve.Participating cities are: Airport Drive, Arnold, Aurora, Ava, Bethany, Bowling Green, Branson West, Brookfield, Butler, Carrollton, Cottleville, Dardenne Prairie, Desloge, Dexter, Fenton, Fredericktown, Fulton, Gladstone, Hannibal, Hazelwood, Hermann, Hillsboro, Ironton, Jackson, Kahoka, Kansas City, Kirksville, Lexington, Macon, Marble Hill, Maryville, Memphis, Mexico, Osceola, Overland, Pacific, Perryville, Platte City, Raymore, Republic, Richmond, Rock Hill, Rock Port, Rolla, Salem, Salisbury, St. Charles, Ste. Genevieve, Sunset Hills, Tarkio, Town & Country, Union, Unionville, Warrensburg, Warsaw, Washington and Willow Springs. Additional information regarding the Show-Me Green
Sales Tax Holiday can be obtained at http://dor.mo.gov/tax/business/sales/taxholiday/green/ or e-mail the Department of Revenue at: salesuse@dor.mo.gov This e-mail address is being protected from spam bots, you need JavaScript enabled to view it .
From an article written by Matt Newport

Buying Your First Home

Buying Your First Home
Home ownership is the cornerstone of the American Dream. But before you start looking, there are a number of things you need to consider.
Before You Start Grab your current household budget so you can consider your financial situation and your ability to make mortgage payments.
Ask family and friends if they can recommend experts, like a lawyer, a Realtor and an inspector, who can help with the home buying process.
Think about your lifestyle and how it might affect your choice of home and neighborhood.
Do a little research on current home prices in the neighborhoods you plan to target.

To begin your search visit The H Team at http://www.realestatetrio.com for more information.

Why Determine the Value of Your Home

What's it Worth?

As a stock holder many Americans check the stock market everyday, looking at TV, online and the newspaper. But fail to take stock of their own home. Up to 95% of today's home owners do not know the value of their largest investment, their home.
A comparative market analysis (CMA) provided by a Real Estate Professional can bring you up to speed.
The CMA is normally used as a way of measuring value. When you are buying or selling or even refinancing, a CMA is essential in setting a price and in choosing the proper time to sell.
There are numerous other reasons to run a CMA including your net worth or to provide adequate replacement insurance or to leverage your equity.
Get your free CMA today by contacting The H Team.

Thinking Of Buying A Foreclosure Property

Six Questions You Must Ask

Is Now A Good Time To Buy A Foreclosure?
Because local market conditions vary the answer is going to be different. Buyers should be asking questions before they make an offer on any foreclosure property.
What's The First Step A Buyer Needs To Make?
Get pre-approved for a loan before you begin shopping.
How Can You Tell A Bad Foreclosure From A Good One?
There are lots of great deals out there. Make sure you work with a Realtor who can guide you through the potential problems associated with buying a foreclosure.
I'm A Qualified Borrower Can I Appeal To Banks For Better Terms?
Lenders have lots of defaulted mortgages, many of them will offer a below-market loan on a bank owned property.
What Are The Costs Of Buying A Foreclosure?
Figure commissions, closing costs, repair costs and upgrade costs and add at least 10% to that figure as a "surprise" fund.
How Does Choice Of Neighborhood Affect Foreclosure Investments?
Avoid areas overrun with foreclosures, particularly newer subdivisions in overbuilt suburban areas. Choose established neighborhoods with good schools and transportation.

For additional information, questions or a list of local foreclosures please contact The H Team today.

Interior Painting Tips

Interior Painting Tips

Get The Surface Ready
You want the paint to glide on smoothly, so be sure the surface is clean, free of hand prints, dirt or scuff marks. Lightly sand any glossy spots to avoid streaking.


Select The Sheen and Color
Lighting has a big effect on the way your color appears. Try a small trail sample available at most Home Improvement Stores. Higher sheen paints are more durable than flats, so use them in high traffic areas. Satin or low-lustre finishes offer more warmth. Consider a high sheen paint on the ceiling, which offers good reflection.
Don't Buy Cheap Paint Although you may want to save a buck or two it isn't worth it on paint. Purchase top quality acrylic-latex interior paint which goes on smoothly and is easy to clean up. Painting the interior of your home is a big job so you want the quality to show.
Choose The Right Tools
If you're using a roller to paint, select the right length of roller nap for proper paint coverage. The smoother your painting surface, the shorter your nap should be. Use synthetic materials, which are made from nylon or polyester, when applying latex or water based paints.

Source: The Rohm and Haas Paint Quality Institute
For a list of licensed quality painters in the St. Louis area contact The H Team.

How To Beat Negativity

Our economy is hurting. Most Home Sales are sluggish and we all have a lot of uncertainty. It's very easy to get discouraged.


Breaking Negativity
From Jon Gordon


1. Tell Yourself A Positive Story
2. Model Yourself After Success
3. Focus On The Important Stuff
4. Replace "Have To" with "Get To"
5. Refuse To Participate In The Recession
6. Boost Your Marketing And Advertising
7. Create A Positive Vision
8. Invite Others Onto Your Bus
9. No More Complaining


For a copy of the complete article please contact The H Team for your free copy

Being Prepared For Severe Weather

Severe Weather Season Begins

Red Cross Urges Preparedness During Missouri Severe Weather Awareness Week

Knowing what to do and where to go during severe weather can be the difference between life and death. In 2008 severe weather killed 28 and injured 271 people according to the Missouri Severe Weather Service.

Provide A Home Tornado Plan
Pick a place where the family can gather if a tornado is headed your way. It can be a basement, a center hallway, a closet on the lowest floor or the bathroom. Keep this area uncluttered. If you’re in a high rise you may not have enough time to get to the lowest level so pick a place in a hallway in the center of the building. If outside, lie flat in a low lying area, and cover your head.

Assemble A Disaster Supplies Kit
Include a first aid kit and any essential medications along with items for infants, the elderly or disabled. You also need canned food, a can opener and at least 3 gallons of water per person. Include protective clothing, bedding or sleeping bags, a battery or crank powered radio, flashlight with extra batteries and written instructions on how to turn off electricity, gas and water if authorities advise you to do so. (You’ll need a professional to turn natural gas service on)

When A Thunderstorm Approaches
Listen to NOAA Weather Radio, commercial radio or television for the latest information. Find shelter in a building or an automobile. Keep windows closed and void convertibles. Telephone lines and metal pipes can conduct electricity. Avoid using the telephone and electrical appliances. Avoid taking a bath or shower. Turn off the Air Conditioner. Power surges from electricity can overload the compressor. Close blinds and shades, they will prevent shattered glass from flying around your home.

Protecting Yourself Outside During A Thunderstorm
Go to a low lying area away from trees, poles or metal objects. Make sure the place you choose is not subject to flooding. Make yourself a small target. Squat with your head between your knees. Do not lay flat on the ground this makes you a larger target.

Provided by The American Red Cross
Contact The H Team for a free list of items for your disaster supplies kit.

7 Steps For Removing Mold From Your Home

What Is Mold?
Mold is a type of fungus made up of tiny microscopic organisms that can grow almost anywhere. It multiplies itself via spores and shows itself in a variety of colors. The most common place to see mold is in your bathroom since mold needs moisture to grow.
1. Wear a face mask, goggles and rubber gloves. Do not touch mold with bare skin.
2. Seal off the area to prevent tiny spores from spreading to other parts of the home while removing.Open the windows and cover heat and ventilation registers.
3. Wash the affected areas with a mild detergent solution, such as laundry detergent and warm water. As an added step, wipe the area down with a solution of a 1/4 cup bleach and one cup of water. (Warning: Do not mix ammonia and bleach; the fumes can be toxic.)
4. Dry the surface completely. Use fans, blowers, dehumidifiers or natural ventilation.
5. Apply a borate-based detergent solution. Don't rinse. This will help prevent the mold from growing again.(Borate will be listed on the ingredient label.)
6. Don't take shortcuts. Never paint or caulk over moldy surfaces. The paint will peel and the mold will resurface.
7. Call a professional. Just when you think you've won the battle you may see dormant spores reappear or spread to clean areas of the home, particularly if proper removal procedures were not taken. You may need to contact a mold remediation company to resolve the problem.

Contact The H Team today for a list of licensed Mold Remediation Companies in the St. Louis, Mo. area.
For more information
Source: The Truth About Mold (Dearborn, 2008)

Top 5 Reasons To Consider Selling Short

ARE YOU UPSIDE DOWN?



1. Avoid foreclosure and help save your credit

2. Ease financial sress and recapture a sense of happiness

3. Reduce debt and regain control of your finances

4. Make a fresh start and restore your confidence.

5. Move forward with the help of a short sale specialist

Hiring a Realtor who is experienced in selling “short” will greatly increase your chances of success. Contact The H Team Today for a free confidential review

Key Individual Provisions of 2009 American Recovery & Reinvestment Act of 2009

Tax Credit on Installing Energy Improvements To Your Home

NON BUSINESS ENERGY PROPERTY CREDIT

What Is It?

A Tax Credit of up to $1500.00 for qualifying residential energy improvements including windows, doors, siding.

Who Gets It?
Taxpayers who invest in such energy improvements to their property.

When Do They Get It?
When taxpayers file their 2009 and 2010 tax returns.

What Does The Taxpayer Need To Do?
When 2009 and 2010 tax returns are completed make sure to claim the maximum benefit under this provision. Be sure to reduce your credit by any non business energy property credit claimed the previous year.

Consult your tax professional for additional information. Not intended as legal advice

Get Your Free Report of Tax Provisions For Individuals Here

Buy A Vehicle - Get Tax Credit

According to the American Recovery and Reinvestment Act of 2009 if you purchase a vehicle before 2010 you qualify for a tax credit.

Who Gets It?
Individuals who purchase new vehicles after 2/16/09 and before 2010. Benefit starts to phase out for individuals with MAGI or $125k/$250k

When Do You Get It?
When taxpayers file their 2009 tax return

What does the taxpayer need to do?
When you file your 2009 tax return, make sure you claim the maximum benefit under this provision. You may claim this deduction even if you don't itemize.

Contact your tax professional for complete details.Not meant as legal advice


Looking for additional details of the American Recovery and Investment Act of 2009? Contact The H Team for a free copy of the Key Individual Provisions

DOGTOWN USA 3 BR 2.5 Baths Under $90K

Three bedroom, 2.5 bath ranch home has much to offer. Vinyl siding, hardwood floors in all 3 bedrooms, Livingroom and breakfast room, Master bedroom suite with updated half bath. Breakfastroom walks out to very large covered deck and privacy fenced yard. Lower level is partially finished with family room, rec room with large bar, full bath and additional room with closets that could be 4th bedroom. There is also a laundry room and stotage room. Covered carport and off street parking. Home needs a little updating but well worth the price for this home.

Contact The H Team for a tour or view the entire MLS with no sign-up required

A Few Upcoming Events in St Louis, Mo.

Upcoming Events
By The H Team


Eco Expo
Join us at the Saint Louis Science Center, April 18-19, at the region’s premier green event, featuring

» Product demonstrations
» Eco-friendly interactive exhibits
» Activities for kids
» Live music in the outdoor beer garden
» Plus much more!
Eco Expo


March Morpho Mania @ The Butterfly House

The Morphos are back! Witness more than 1,500 iridescent common blue morpho butterflies in free flight inside the Conservatory throughout the month.
Butterfly House


Easter Egg Hunt @ Shaws Garden

Eggstravaganza
Saturday, April 4, 2009
The Garden is a gorgeous backdrop in Spring, and kids go crazy when meeting “Bunny” the Garden rabbit.
Shaws Garden


The Boat House @ Forest Park
The Boathouse in Forest Park has been a favorite spot for generations of St. Louisans
Bands will be returning in May
The Boat House

The Incentive for Greening American Homes

The Incentive for Greening American Homes
Written by Peter L. Mosca

Green is good, and the Obama Administration and Congress believe it should be an integral part of pulling America out of its economic doldrums. According to the National Association of Home Builders, expanded tax credits for energy-efficient home improvements in the new economic stimulus package puts more money in consumers' pockets by providing financial incentive for home owners to go green on their renovation projects in 2009 and 2010. While more efficient homes save on water and energy bills, these tax credits will make such home upgrades even more affordable.

The Internal Revenue Code section 25C tax credit for existing homes, which had expired at the end of 2007, was reinstated as part of the economic rescue package passed by the Bush Administration last fall. Homeowners could be rewarded for installing energy-efficient windows, doors, roofing and insulation as well as furnaces, air conditioners and heat pumps. But remodelers found that the terms of the 25C credit -- equal to only 10 percent of the cost of each product and with a lifetime cap of $500 -- weren't strong enough to push enough homeowners off the fence and into action.

Now, the credit rate and lifetime cap have been tripled – to 30 percent and $1,500, respectively – the list of eligible improvements expanded, and the deadline for applying has been extended through the end of 2010. Congressional estimates indicate that the new rules for the tax incentive will increase aggregate remodeling activity by more than $6 billion.

"The new tax credit also aligns with industry research indicating that even the most aggressive efficiency goals for new homes won't make a dent in overall energy consumption. Instead, remodeling and retrofitting the nation's older homes is by far the more efficient solution," said NAHB Remodelers Chairman Greg Miedema, CGR, CGB, CAPS, a remodeler from Tucson (AZ).

"These new tax credits are another way that home building industry can combat the potential effects of global climate change by encouraging home owners to make energy-efficient improvements to their homes," said Miedema.

A 2008 California study revealed that 70 percent of the greenhouse gas emissions related to single-family envelope energy consumption can be attributed to homes built before 1983.

The bottom line: Retrofitting existing homes with energy-efficient features is four to eight times more carbon, and cost-efficient than adding further energy-efficiency requirements to new housing, the study showed.

Details on qualifying improvements are available at the IRS Web site at www.irs.gov. It is expected that homeowners will need to complete Form 5695 (Residential Energy Credits) and submit as part of their 2009 income tax returns to claim the credit. Further, homeowners should retain for their own records information that includes:


Name and address of the manufacturer

Identification of the component

Make, model or other appropriate identifiers

Statement that the component meets the 25C standards

Climate zones for which the criteria are satisfied

Additional information for storm windows, if applicable

A declaration that the certification statement is true.
Due to the efforts of nonprofits like NAHB, the National Association of REALTORS and its affiliate organizations like the CCIM Institute, more and more businesses and individuals alike understand that 'green' is good for our economy, for our health and for the sustainability of our nation's communities

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

Webster Groves Victorian Home High On A Hill For Sale

Amazing architectural detailing throughout. Spacious rooms with 10 foot ceilings. Lovely refinished hardwoods, stain glass windows with 2 bay windows and original moulding throughout. Kitchen offers 42 inch wood cabinets and opens to family room. Even offers a main floor laundry. Master offers a 8x10 sitting room with cedar lined walk in closet. Zoned HVAC and updated plumbing. Welcome your friends and family to the large 25 x 19 front porch. This foreclosure only needs very little to be move in ready. contact The H Team today for your tour.

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.

Will Your Sale Price Leave You Short

What to Do When the Sales Price Leaves You Short

It’s time to sell your home, and the total amount you owe is greater than your homes current value. This is called a short sale. A short sale is one where the net proceeds from the sale won't cover your total mortgage obligation and closing costs, and you don't have other sources of money to cover the deficiency. A short sale is different from a foreclosure, which is when your lender takes title of your home through a lengthy legal process and then sells it.

1. Consider loan modification first. If you are thinking of selling your home because of financial difficulties and you anticipate a short sale, first contact your lender to see if it has any programs to help you stay in your home. Your lender may agree to a modification such as:

• Refinancing your loan at a lower interest rate
• Providing a different payment plan to help you get caught up
• Providing a forbearance period if your situation is temporary

When a loan modification still isn’t enough to relieve your financial problems, a short sale could be your best option if

• Your property is worth less than the total mortgage you owe on it.
• You have a financial hardship, such as a job loss or major medical bills.
• You have contacted your lender and it is willing to entertain a short sale.

2. Hire a qualified team. The first step to a short sale is to hire a qualified real estate professional* and a real estate attorney who specialize in short sales. Interview at least three candidates for each and look for prior short-sale experience. Short sales have proliferated only in the last few years, so it may be hard to find practitioners who have closed a lot of short sales. You want to work with those who demonstrate a thorough working knowledge of the short-sale process and who won't try to take advantage of your situation or pressure you to do something that isn't in your best interest.

A qualified real estate professional can:

• Provide you with a comparative market analysis (CMA) or broker price opinion (BPO).
• Help you set an appropriate listing price for your home, market the home, and get it sold.
• Put special language in the MLS that indicates your home is a short sale and that lender approval is needed (all MLSs permit, and some now require, that the short-sale status be disclosed to potential buyers).
• Ease the process of working with your lender or lenders.
• Negotiate the contract with the buyers.
• Help you put together the short-sale package to send to your lender (or lenders, if you have more than one mortgage) for approval. You can’t sell your home without your lender and any other lien holders agreeing to the sale and releasing the lien so that the buyers can get clear title.

3. Begin gathering documentation before any offers come in. Your lender will give you a list of documents it requires to consider a short sale. The short-sale “package” that accompanies any offer typically must include

• A hardship letter detailing your financial situation and why you need the short sale
• A copy of the purchase contract and listing agreement
• Proof of your income and assets
• Copies of your federal income tax returns for the past two years

4. Prepare buyers for a lengthy waiting period. Even if you're well organized and have all the documents in place, be prepared for a long process. Waiting for your lender’s review of the short-sale package can take several weeks to months. Some experts say:

• If you have only one mortgage, the review can take about two months.
• With a first and second mortgage with the same lender, the review can take about three months.
• With two or more mortgages with different lenders, it can take four months or longer.

When the bank does respond, it can approve the short sale, make a counteroffer, or deny the short sale. The last two actions can lengthen the process or put you back at square one. (Your real estate attorney and real estate professional, with your authorization, can work your lender’s loss mitigation department on your behalf to prepare the proper documentation and speed the process along.)

5. Don't expect a short sale to solve your financial problems. Even if your lender does approve the short sale, it may not be the end of all your financial woes. Here are some things to keep in mind:

• You may be asked by your lender to sign a promissory note agreeing to pay back the amount of your loan not paid off by the short sale. If your financial hardship is permanent and you can’t pay back the balance, talk with your real estate attorney about your options.

• Any amount of your mortgage that is forgiven by your lender is typically considered income, and you may have to pay taxes on that amount. Under a temporary measure passed in 2007, the Mortgage Forgiveness Debt Relief Act and Debt Cancellation Act , homeowners can exclude debt forgiveness on their federal tax returns from income for loans discharged in calendar years 2007 through 2012. Be sure to consult your real estate attorney and your accountant to see whether you qualify.

• Having a portion of your debt forgiven may have an adverse effect on your credit score. However, a short sale will impact your credit score less than foreclosure and bankruptcy.

As full time RealtorsThe H Team can provide a Broker Price Opinion and market your home.

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.

Home Buyer Checklist

Buyer's Checklist
The H Team

Buyers must do their part to help make the Buying transaction "smooth" alll the way to the closing table. Always expect minor problems and delays along the way. On the seller's side, title problems are a common cause of postponed settlements. On your side, bureaucratic snags such as extensive credit checks and slow appraisals can bog things down. In many cases, there isn't much you or the seller can do but wait.

While you're waiting for completion of all the processes now in motion, you should:

Apply for homeowners insurance on your new home.
Get an exact accounting settlement cost, and make sure the money and necessary documents will be there at closing.
Select a date for the final walk-through of the house.
Contact utility companies about starting service in your name.
Insurance on your new home

Your lender will require you to take out a homeowners insurance policy, and usually pre-pay for the first years premium, something you would want to do anyway. The lender wants to cover the amount of its mortgage loan so it can recover the money in the event of a loss. However, it's up to you to see that your insurance coverage remains adequate by getting property protection, liability insurance and/or any additional coverage you think is necessary.

The final inspection
The house you're buying must be handed over to you in the condition specified in the contract. To verify this, schedule a walk-through of the house shortly before settlement, several days in advance is best, to allow time for the seller to correct any last-minute problems. Look for left behind items, trash, damages from the movers. Also check attics and garage rafters.

Take along a simple device, such as a plug-in nightlight, to test all electrical outlets. Turn on the furnace and air conditioning, flush toilets and turn on faucets, put the washing machine and dryer through a cycle. Fill all drains and check for leakage, run the dishwasher through a few complete cycles. In short, put the house through its paces.

If anything needs fixing or further cleaning, ask your agent to inform the selling agent or home seller immediately. Neither you nor the seller wants to postpone the settlement, but make it clear you won't go to closing until a second walk-through is satisfactory.

What happens at closing
The closing is where ownership of the home is officially transferred from the seller to you. Your closing officer works for the title company and coordinates the document signing and the collection and disbursement of funds. Your main role at the closing is to review and sign the documents related to the mortgage loan and to pay the closing costs.

Most parties involved with the purchase of your new home will attend your closing. The closing is a formal meeting typically attended by the buyer(s) and the seller(s) (and their attorneys if they have one), both real estate sales professionals, and, of course, the closing officer. The meeting is typically held at the title company's office.

What to bring to closing
For things to go smoothly, each party should bring certain documents and be prepared to pay the necessary fees. Many closing costs can be paid by personal check, but ask the closing attorney or closing officer. A certified or cashier's check may be required. Find out to whom checks should be made payable.Most closers will also require a state approved picture ID.

The seller and his attorney are responsible for preparing and bringing the deed and the most recent property-tax bill. They also will bring other documents required by the contract. This can include the property insurance policy, termite inspection, documents showing the removal of liens and a bill of sale for personal property.

Make sure you have adequate funds for the down payment and other settlement costs, arrange for your attorney to represent your interests at the meeting, bring the loan commitment, inform the lender of the meeting time and place. Finally, it's a good idea to bring a copy of the purchase contract to refresh your memory.

Regardless, if you're buying or selling The H Team will assist you from start to completion. Contact us today to answer any questions you may have.