Williams & Stuart Real Estate

4 Big Short Sales Hang-ups

Williams and Stuart Real Estate — Tue, 26 Feb 2013 15:24:57 +0000

Short sales are increasing this year, and these transactions can take up to three times longer than a traditional transaction. A lot can go wrong in that timeframe. These are the most common delays, according to a recent article by George “Gee” Dunsten, a real estate broker and president of Gee Dunsten Seminars, at RISMedia.

1. Title issues: Be sure to do a title exam at the beginning in order to identify all individuals on the deed and mortgages, and determine all lien holders.

2. Lack of communication with the lender: Lost documents and misunderstandings commonly cause delays. Make it a habit to follow up with the mortgage servicer twice a week to avoid unnecessary delays.

3. Delaying the start: Some short sales have not even begun until a contract to purchase has been initiated. But this could add up to two extra months to the process. The lender won’t even look at a buyer contract until a seller candidate for a short sale is approved and the market value has been determined, Dunsten writes.

4. Incomplete packages: Make sure you carefully submit all the documents completely and accurately. Submitting incomplete packages is another common culprit of delays. All home owner financial information will need to be kept current and forwarded to the servicer every 30 days, Dunsten writes.

Source: “Avoiding the Dirty Dozen Barriers to Short Sale Success,” RISMedia (Feb. 20, 2013)

Just How Smart is Your Smart Phone?

Williams and Stuart Real Estate — Thu, 21 Feb 2013 15:56:38 +0000

In recent years, the amount of information available to consumers regarding the real estate market has increased dramatically. In these tech centric times buyers and sellers can simply hit a button on their smart phone to access all types of information on homes for sale in their local area. From prices and sales history to area statistics, it’s all there at their fingertips. A number of these applications use web sites that are designed to give value estimates for a particular property. Don’t be fooled, tech savvy developers may have been able to build a computer that could become a Jeopardy champion, but breaking down and analyzing information relating to home values is still done best by humans. Real estate agents and appraisers have an understanding of the local market and its ever changing conditions that simply cannot be duplicated by a program or a smart phone application. They can break down information beyond just the statistics. Real estate has as much to do with our senses as it does with square footage and lot size. Aesthetic differences such as views, style and property condition can have a tremendous impact on value. If you truly want to know what a home is worth consult a local real estate professional. Here at Williams and Stuart Real Estate we have agents living and working in your neighborhood ready to help you with all of your real estate needs.

Our Top Selling Agents 2012

Helen Arlia — Thu, 17 Jan 2013 19:36:24 +0000

Congratulations to our Top 3 Producing Agents of 2012!

From Left to Right: Sally Hersey, Tim Silvia, Donna DiGiulio

2012 Stats

Williams and Stuart Real Estate — Thu, 17 Jan 2013 19:28:38 +0000

Real Estate Radio

mindy kaplan lane — Sat, 05 Jan 2013 05:00:00 +0000

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2012 Year In Review - Community Events

Helen Arlia — Fri, 21 Dec 2012 19:03:35 +0000

This past year Williams & Stuart continued our mission to help our community. The year saw our agents host and sponsor a number of charitable events such as Bowling for Breast Cancer, 2012 Ronald McDonald Walk, 2 Blood Drives, Making Strides for Breast Cancer, Bras for a Cause and our 4^th annual Golf Tournament benefiting A Wish Come True, Inc. to name a few. We plan to continue our mission in 2013.

What to look for when purchasing a home

Paul Zarrella — Fri, 17 Jun 2011 15:25:51 +0000

For years real estate agents have been telling people the 3 most important factors to consider when buying are: “Location, Location, Location!” It is the one mistake you cannot correct once you have made your purchase. Yes, structures can be changed, repairs can be made, and layouts can be altered. Unfortunately, moving your home is not a viable option.The area in which you buy today will have a tremendous impact on your future resale value.

First and foremost, buyers should choose a community with a strong and stable economy. They should also consider the quality of the school district, even if they do not have children themselves. With mounting gas prices, you can guarantee that highway access and a homes proximity to outdoor recreation (i.e. parks and beaches) will play a major role in the decision making of future buyers. Lastly, stay away from locations with commercial influence or intrusive rail, plane, or traffic noise. You may get a bargain today, but it could cost you tomorrow.

The Importance of contacting a local REAL ESTATE expert...

Paul Zarrella — Mon, 06 Jun 2011 19:02:34 +0000

In recent years, the amount of information available to consumers regarding the real estate market has increased dramatically. Today, buyers and sellers can merely tap a key on their smart phone to access information on homes for sale in the local area.

A number of these applications use websites designed to give value estimates for a particular property. Yes, they may have been able to build a computer that could become a Jeopardy champion, but breaking down information of home values is STILL done best by humans. Real estate agents and appraisers have an understanding of the local market that cannot be reproduced with a program. They can break down the information beyond the statistics. Real estate has as much to do with our senses as it does with square footage and lot size. Aesthetic differences such as view, style, and condition can have a great impact on value. If you truly want to know what a home is worth contact a local real estate expert.

Considering a Short Sale??

Anonymous — Thu, 19 May 2011 11:37:27 +0000

6 Tips for Buying a Home in a Short Sale

By preparing for a real estate short sale, you can emerge with a great home at a favorable price. Read

Visit houselogic.com for more articles like this.

This is a job for SUPERMAN, not Clark Kent

Anonymous — Tue, 01 Feb 2011 23:29:29 +0000

You need an expert guide if you are traveling a dangerous path

The field of real estate is loaded with land mines. You need a true expert to guide you through the dangerous pitfalls that currently exist. Finding a buyer willing to pay fair market value for your home at a time that there are mass inventories of foreclosures and short sales will take a true real estate professional. Finding reasonable financing can also be tricky in today’s lending environment.

Experts in any profession, do not discount their fees; especially when the job is becoming much more difficult.

You need a skilled negotiator

In today’s market, hiring a talented negotiator could save you thousands, perhaps tens of thousands of dollars. Each step of the way – from the original offer, to the possible re-negotiation of that off after a home inspection, to the possible cancellation of the deal based on a troubled appraisal – you need someone who can keep the deal together until it closes.

When an agent is negotiating their commission with you, they are negotiating their own salary. The salary that keeps a roof over their family’s head. A salary that puts food on their family’s table. If they are quick to take less when negotiating for themselves and their families, what makes you think they will not act the same way when negotiating for you and your family? If they were Clark Kent when negotiating with you, they will not turn into Superman when negotiating with the buyer or seller in your deal.

Bottom Line

We believe that famous sayings become famous because they are true. You get what you pay for. Just like a good accountant or a good attorney, a good agent will save you money…not cost you money.

The KCM Blog

Real Estate Radio

mindy kaplan lane — Fri, 07 Jan 2011 02:20:36 +0000

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House Logic Trend Updates

mindy kaplan lane — Mon, 27 Dec 2010 19:52:29 +0000

Important Changes in Fire Code Requirements for 3 Family Dwellings

Anonymous — Wed, 22 Dec 2010 14:21:21 +0000

Time for Three-Families to Get Alarmed

Fire Safety Requirements Take effect on December 31st

The fire safety requirements for three-family properties will go into effect on December 31, 2010. There will be no more postponements, according the Executive Director of the RI Fire Safety Code Board of Appeal and Review, disappointing landlords who were hoping for a last-minute reprieve.

What are the new requirements for three-unit dwellings?

As a reminder, here are the requirements, according to the State Fire Marshal Smoke Alarm and Carbon Monoxide brochure.

As of December 31, 2010 all common areas shall be protected by AC-powered, interconnected smoke alarms with battery back-up. These alarms may be powered from an existing residential or common circuit. These smoke alarms shall be separate from the smoke alarms in each dwelling unit. There shall be one smoke alarm on each level of the common stairway(s), and at the bottom of the basement stairs.If there is more than one (1) stairway, all detectors in each stairway shall be interconnected together.Wireless detectors shall be allowed as part of an approved system or panel and provided that such system meets all the audible requirements.A local, supervised fire alarm system shall be permitted in place of smoke alarms. Each system shall be installed as per code and provide detection in all common areas, pull stations, etc; and occupant notification.

The full brochure can be downloaded in the Transit Forms Library or by viewing the

Fire Safety Requirements here.

When were these requirements approved? The fire safety requirements for three-family dwellings were originally slated to take effect on July 1, 2008, but the Fire Safety Code Board of Appeal and Review extended the deadline twice: until July 1, 2009 and then until December 31, 2010.

Why were the requirements extended twice? The purpose of the two extensions was to give the Fire Safety Code Board of Appeal and Review time to address questions about the availability and use of wireless technology, interpretations of the electric code, transfers of short sale and foreclosure properties, and confusion over other enforcement issues.

Also, some electrical inspectors were interpreting the electrical code to require owners of three-unit dwellings to install a separate meter for the new fire safety device instead of drawing from one of the unit meters. Since the electric company requires new meters to be installed on the exterior of the building, could have forced property owners to spend thousands of dollars to relocate the entire meter bank, according to the Fire Safety Code Board. The Board, State Fire Marshal, State Building Board, State Building Commissioner, and others worked together to create a solution to avoid undue hardship to owners of existing three-unit dwellings.

How aggressively will these requirements be enforced? It depends. Some local fire marshals have been notifying owners of three-family dwellings of these requirements and plan to begin inspections of three-unit dwellings in January, 2011.

Is it legal to sell a three-family dwelling that is not in compliance with these requirements? Yes. A buyer can purchase a three-family that is not in compliance with the new fire safety requirements as long as the buyer is prepared to bring the property into compliance, and assuming that the buyer's lender will finance the purchase. There is no separate deadline or grace period.

How will these requirements affect rentals of three-family dwellings?Failure to comply is a code violation for which a landlord can be cited, similar to minimum housing violations.

Questions? Check with your local fire marshal or contact the State Fire Marshal's Office

Source: RI Association of REALTORS®,

Williams & Stuart Agents Raised over 11,000.00 for A Wish Come True

Anonymous — Tue, 07 Dec 2010 20:40:32 +0000

The NAR ad campaign on HOME OWNERSHIP

Anonymous — Mon, 15 Nov 2010 03:08:35 +0000

Home Ownership Matters!!

To people... To communities... To America.

Studies show that home ownership has a significant positive impact on net worth, educational achievement, civic participation, health and overall quality of life. That’s why, for more than 100 years, REALTORS® have helped people find their piece of the American Dream.

Now, with some questioning whether home ownership is still good for America, it’s more important than ever to stand up for home ownership... in your community and in the nation’s capital.

Find out more about why Home Ownership Matters, how the NATIONAL ASSOCIATION OF REALTORS® is standing up for it, and how you can help spread the word, at REALTOR.org/homeownership.

WHY HOME OWNERSHIP MATTERS

TO PEOPLE…

Home owners are happier and healthier and enjoy a greater feeling of control over their lives.
Owning a home is one of the best ways to build long-term wealth. Historically, a home owner’s net worth has ranged from 31 to 46 times that of a renter.
Home owners are free to redecorate, renovate, and modify their homes as they wish.
Most home owners enjoy stable housing costs—a fixed-rate mortgage payment might not change for 15 to 30 years while rent typically increases 3% a year.
Home owners can typically deduct mortgage interest and property taxes on their federal individual income tax return.

TO COMMUNITIES…

People who own homes vote more, volunteer more and contribute more to their neighborhoods.
Home owners do not move as frequently as renters, providing moreneighborhood stability. In turn, this stability helps reduce crime and supports neighborhood upkeep.
Children of home owners do better in school, stay in school longer, are more likely to participate in organized activities and spend less time in front of the television.

TO AMERICA...

67% of American households are owner-occupied. America is a nation of home owners.
Home owners pay 80 to 90% of federal individual income taxes, contributing to federal programs that benefit all Americans.
Every home purchased pumps $60,000 into the economy for furniture, home improvements and related items.
Housing accounts for more than 15% of the national Gross Domestic Product, a key driver of our national economy.
For these reasons and more, home ownership is the American Dream!

Thank You to Everyone for helping to make our Fall Festival to Benefit A.D.O.P.T. a Success!!

Anonymous — Fri, 17 Sep 2010 18:06:59 +0000

Click here to view all the photos of the Fall Fest.

Williams & Stuart's 2nd Annual Golf Tournament

Anonymous — Mon, 13 Sep 2010 14:57:03 +0000

Please click the link to our facebook page to view all of our photos from this wonderful event.

We would like to thank all our Agents, Sponsors and Players for helping us raise over 11,000.00 for A WISH COME TRUE. This wonderful charity grants wishes to children in our area with life threatening illnesses.

The Decision to pay points or not..

Anonymous — Wed, 02 Dec 2009 19:15:48 +0000

When taking out a mortgage borrowers are often presented with the option of paying points. A point represents a payment at closing of one percent of the loan amount. In exchange for this upfront fee borrowers receive a reduction in their interest rate, typically around ¼ percent.

When faced with the decision to pay points the most important factor to consider is how long you plan on remaining in your home. If you plan on selling or even refinancing within two years it probably doesn’t make sense to pay discount points. If you do plan on holding the loan for at least 5 years you should consider paying points. It may cost you a bit more today but it will save you money in the long run. Our agents are available to meet with you to answer questions and guide you towards home ownership. Please call us to schedule an appointment.

Properly Pricing Your Home

Paul Zarrella — Thu, 22 Oct 2009 11:26:59 +0000

IN THIS CURRENT REAL ESTATE MARKET TRADITIONAL HOME SELLERS ARE FINDING THEMSELVES COMPETING FOR BUYERS ATTENTION WITH BANK OWNED PROPERTIES, SHORT SALES, AND FORECLOSURES. ALTHOUGH THIS MARKET CAN BE CHALLENGING, MANY SELLERS ARE FINDING SUCCESS.

THE FIRST STEP TO THE WAY TO THE CLOSING TABLE IS PRICING. A WELL PRICED HOME WILL ATTRACT SHOWINGS IMMEDIATLEY. OFTEN INITIAL OPEN HOUSES WILL PRODUCE A FRENZY OF ACTIVITY. WHEN BUYERS SEE SUBSTANTIAL INTEREST IN A PROPERTY THEY TEND TO MAKE OFFERS THAT ARE CLOSER TO, OR EVEN ABOVE THE ASKING PRICE, MANY TIMES WITHIN A FEW WEEKS OF LISTING.

SELLERS WHO PRICE THEIR HOME ABOVE its VALUE WITH THE THOUGHT THAT THIS ALLOWS ROOM FOR A BUYER TO NEGOTIATE DO NOT GET AS MANY SHOWINGS. THIS RESULTS IN NOT ONLY LENGTHY SELLING PERIOD, BUT ULTIMATELY A LOWER SALES PRICE.

GOING GREEN.......GOOD FOR YOU! GOOD FOR THE ENVIRONMENT!

Susan Rowles — Sat, 17 Oct 2009 16:05:24 +0000

Here is some advice that not only can save homeowners money but can help save our environment as well. There are many area's in the home where dollars and energy are being wasted. Making a few minor changes can have a real impact on your wallet as well as your carbon footprint.

Over half of the US energy supply is used for heating and cooling. You can do your part to reduce this number by taking a few simple steps. Installing a programable thermostat and lowering the temperature by 6-8 degrees while you are sleeping or not home will result in a monthly savings of approximately $25.00. Additionally, something as simple as setting your hot water thermostat to 120 degrees will save you another $100.00 per year.

For more energy efficiency tips and advice contact one of the many Energy Smart Real Estate Specialists at Williams & Stuart Real Estate.

Williams & Stuart Real Estate

4 Big Short Sales Hang-ups

Just How Smart is Your Smart Phone?

Our Top Selling Agents 2012

2012 Stats

Real Estate Radio

2012 Year In Review - Community Events

What to look for when purchasing a home

The Importance of contacting a local REAL ESTATE expert...

Considering a Short Sale??

6 Tips for Buying a Home in a Short Sale

This is a job for SUPERMAN, not Clark Kent

Real Estate Radio

House Logic Trend Updates

Important Changes in Fire Code Requirements for 3 Family Dwellings

Time for Three-Families to Get Alarmed

Williams & Stuart Agents Raised over 11,000.00 for A Wish Come True

The NAR ad campaign on HOME OWNERSHIP

Thank You to Everyone for helping to make our Fall Festival to Benefit A.D.O.P.T. a Success!!

Williams & Stuart's 2nd Annual Golf Tournament

The Decision to pay points or not..

Properly Pricing Your Home

GOING GREEN.......GOOD FOR YOU! GOOD FOR THE ENVIRONMENT!