Hudson Valley Happenings Blog : April 2009

I am not nor have I ever been a financial adviser, accountant, or any other financial professional.  I have not earned a degree in finance nor been licensed for any financial profession.  I start this post out that way because I am about to give you a financial philosophy.  It is a personal philosophy born of years of trial and error (sometimes more error than I like to admit).  I have borrowed ideas that seemed to work for others and tweaked them to fit my own philosophy.  I am not raking in the dough or piling up huge amounts of cash but I am living quite well, I am able to give my children things like voice lessons and help with college,  and I don't have to worry that I will be taken down by the first month without a closing or if my husband is laid off from his work and can't get another job for a while.

Since there are a lot of new graduates starting out on their "adult" life this time of year and there are many people who need to turn around their financial position after years of living on the edge with credit card debt and a pay check to paycheck existence I thought sharing my philosophy might be helpful to you.  Heck it might go a long way for the country too but that is another post for another day.

Heading for Trouble>>>>>>>>>

In our society we see what we want and we want it NOW!  The days of saving up for something have become old school.  We have CREDIT and boy oh boy do we use it!  I am not going to tell you that I don't use credit because I have a statement every month from my credit card company just like most Americans.  I am going to tell you that I Pay My Balance Off Every Month.  I use my credit card for convenience and to earn bonuses.  I recently earned free gift cards to some department and home improvement stores that I frequent just by using the points I tally up with purchases. That's free money people.  I have friends who build up free air miles too.  If you travel a lot this might be a good option for you.  The main key to using a credit card though is the monthly payoff!  Don't keep racking up unsecured debt.  It will and has to come back to bite you at some point.  Believe me I have been there done that.  

If you are already in trouble, Stop Using The Card.  Live within you means and start paying down that debt as best and as fast as you can.  Anything above the minimum payment is good and if you are not using it the debt will not be growing anymore.  It seems that once you let the credit cat out of the bag it grows at alarming rates.  Your cuddly kitten can become a snarling tiger almost overnight.

Of course most of us need to have a mortgage in order to purchase a home.  A mortgage is long term secured debt that can be part of a wealth building program.  I own several properties right now that have mortgages on them.  I can tell you that all of my mortgages put together don't equal what some people are paying out for one home because they had to have the dream house NOW!  I have a vacation home and two income properties in addition to my residence.  These investments were made within my means to repay and are secured by assets (the properties themselves) that were bought with analysis of the future value, tax benefits, and income potential in mind. This is the kind of debt that will increase wealth.  The only people who get increased wealth from excessive credit card use are the banks and collection agencies and of course those debt reduction companies that abound right now to prey on unfortunate victims of our national obsession with shiny new things and our buy now pay much later attitudes.

So there you have it people.  As I said I am not a millionaire but I am content with my life.  I have been lucky but I was not always in the position I am in now.  I know what it's like to be scraping together change to buy food for the day or to wonder how I could pay off more than the minimum balance on credit cards that were used indiscriminately.  If I can save one of my readers that pain or help one on the road to recovery I will have done what I set out to here today.  

It's been "playing" in my mind all morning. (Warning clicking here will embed it in your mind all day - as JoLo performs the song). It's a song that is used to get a crowd excited and pumped up on the dance floor.  I guess it is side effect of how I spent some of my day yesterday at a wonderful bridal fair speaking with women and men who are planning their weddings.  Truly nothing beats the energy and enthusiasm that these engaged couples put into planning their big day.  Many were there who don't plan to marry until 2011 yet they were checking out locations, photographers, DJs and the rest of the vendor tables as if the wedding were right around the corner.  The truth is they know that the good locations and the good service providers book up early.  Planning is the key to getting want they want.

So many of these couples were really listening to me as I explained how they can use their wedding gifts as part of a down payment on a starter home.  There was a lot of interest because I presented my message with enthusiasm and I was prepared to give them hope that they might be able to do something they had not considered.  I "got loud" and broke through.  Some of them were not in a position right now to buy but they listened anyway and here is what I told them...

How do you know unless you ask?  Too many people believe that are not able to buy a home so they don't even bother with the first step. Some of us spend years of effort and time putting together a wonderful day for ourselves, our families, and friends when we plan our wedding.  It is a smashing success but it is only one day.  We plan for it because we have heard from other people that in order to do it right it needs advance planning.  Well the key to getting yourself in a position to buy your first house is also knowing what you need to do in order to get there.

I think we as Real Estate Professionals do a great job at promoting listings that say "Come Buy Me!!!"  We are very vocal about various programs and interest rates that will help Buyers take advantage of today's "Perfect Storm" in the market.  What we don't do as well I think is get people to think they can speak with us even if they think they are not ready.  Obviously they know how to plan for the future if they can spend two years working on a one day event.  I think we have to let them know that they can sit down with us and find out how to get there. So Let's Get Loud Baby!  Help people  realize that they can get themselves ready to buy a house sooner than they think.  Let's promote future home buyers as well as we promote the current listings and programs.  Let's Get Loud!

All you brides and grooms, about to be graduates, and anyone else who hasn't checked into your ability to buy a house now or in the future give me  a call or send me an email today! Rather than thinking you can't; learn how you can.  I will help you to get on the path you need to walk in order to get to the first home of your own.  I work in the Greater Hudson Valley of New York's Orange, Ulster, and Sullivan Counties.  I would love to be your Real Estate Agent if you plan to live here and I will speak with you even if you are not in this area because I can refer you to an agent near you who is willing to do the same for you where ever you want to be.

Attention Greater Hudson Valley Of NY Area Bride's To Be.....

You are invited to attend a
Free Bridal Expo at
Lippincott Manor

69 Lippencott Road, Hamlet of Wallkill, NY

Sunday April 26, 2009,
from 12:00 PM to 4:00 PM.  
Many prizes will be awarded including 3 Free Honeymoons

click here to register or just come

While you are there please stop and visit my booth where I will be promoting using your wedding to help provide the down payment for your first home.  Did you know you could ask your guests for cash presents and put them in a dedicated account to be used as a down payment and or closing costs?  This year there are so many great incentives to buy your first home.  Interest rates are low, inventory is high, and there are several grant programs that you may qualify for including the $8000 tax credit if you purchase before Dec. 1 and meet the income guidelines.  There are also some saving club programs that can get you as much as $7500 in $4 to $1 matching funds for your savings.  

Hey you have to live somewhere so you might as well be putting your money into your own home if you can.  We can show you how to own a home for even less expense than the typical rental in the area.  Stop and visit or give me a call for more information on how to use your wedding gifts to help buy your first home.

If you are looking to buy in the Greater Hudson Valley of New York I would love to be your Buyer's Agent.  If you live anywhere else in the world I can find you a great agent to help you where you want to live.  Good luck to you as you plan your wedding and your future life together.

Do you hear that?  It is the sound of the crowds rushing in behind you.  If you have been looking around at real estate for a while and holding off to see what the market will do you may find that houses are moving more quickly.  When I call to schedule appointments I am hearing a lot more of "that has an accepted offer" and I am getting calls telling me that some properties scheduled for a weekend home tour have accepted  an offer before I can get my buyers out there.  

There are some buyers who are under the impression that in the "Buyer's Market" they have all the time in the world and hold all the cards.  Let me tell you my friends .... here in the Greater Hudson Valley of New York the market is moving quicker than you think.  Maybe it is Spring or maybe people are realizing that the low interest rates, incentives, and most important pent up inventory of houses will not be here for long.  If you want to take advantage of it you better give a Realtor a call and QUICK!

My schedule is filling up but there is room for you.  Give me a call and I will prepare a search for you, follow up on properties that interest you, arraign for a tour of up to 5 or 6 homes at a time, and help you to close the deal on your new place.  If you are looking in Orange, Ulster, or Sullivan Counties of New York I would be happy to provide you with the assistance you need to make your house hunting easy.  If you are looking anywhere else I can hook you up with a great agent where you want to be.

 

There was an ad on the radio yesterday that made me think about the real estate community and our response to the downturn in the economy and more specifically, the real estate market. So many Brokers are cutting service to the bare minimum in order to stay afloat in this sea of trouble.

The ad I heard was for a car dealership and they were doing what I believe needs to happen in all service industries and actually, in all business period.  We all have seen many auto dealerships closing up shop because they were not able to make ends meet.   This dealer had a different idea and I think it might help everyone to hear about it.  This dealer is providing more, not less service.  They have increased their attention to the service department, offering free towing and increased hours.  Believe it or not they are serving full breakfast to the people waiting for the repairs and maintenance appointments.  Obviously they have reacted to their economic fears in a proactive way.  They will create an environment where people will choose to spend the money that they do have.

Far too many people in our country have lost the concept of service.  In the real estate business I have seen agents who seem to feel that their active clients should pay for the ones that did not work out.  I have seen an attitude towards service in agents that shocks me at times.  These are the agents that will not prosper in this market.  

The key we all need to remember is that people, our potential customers and clients, have a choice.  They want to feel that they are paying for something of value.  Rather than scaling back efforts and cutting services we need to find a way to provide more services but we need to do it in a smarter way.  If we can't afford to write checks for all the bells and whistles of the prepackaged service plans and lavish catered events then get out the frying pan and cook it yourself or find a willing victim, I mean volunteer, among family and friends who can help you. Barter with other professionals for services that you can provide for them if they will provide your business with an edge that says I care about you.  It is the quality of service that will bring customers and clients to your door.  

We have a whole lot of adjusting to do in order to thrive in this economy.  Start by adjusting your own business plan and don't forget who is paying your bills and give them the attention and service they deserve.  I am sure they can go elsewhere if you don't.

I was with my accountant yesterday and learned something totally mind blowing!  He had done the taxes for at least 6 first time home buyers who had no idea about the $8000 Tax Credit that is currently available to them.  Are you kidding me????  Someone out here is not doing their job and I think that someone is our real estate community!

This was one small accounting firm in a small town.  If we take those statistics and multiply them by all the accounting firms and tax prep services there must be thousands of people who have bought without knowledge of this incentive.  If we realize that many more people are out there who could and would take advantage of the current market, low mortgage interest rates, and all the other advantages of home ownership if they were aware of this $8000 bonus then we really have to keep shouting it from the rooftops.

To many real estate industry professionals, the excitement of the $8000 incentive may be old news but there are way too many potential home buyers out there who have no idea.  Are you telling every potential client that it may be available to them?  Are you mentioning it in your daily conversations with your friends and family?  Are you failing to spread the word until it is heard?

I work as a Buyer's Agent in the Great Hudson Valley of New York's Orange, Ulster, and Sullivan Counties.  If you are looking for a place within commuting distance of New York City you should take some time to consider our area.  I would love to help you find out more about the area and to plan some house hunting tours that will find you your perfect fit in a home.  If you are thinking of taking advantage of the $8000 tax credit and want to live anywhere else in the USA, I can find you a Real Estate Buyer's Agent who will help you where you want to be.  Email, text. or call me today!

Has this been happening to your listings?  Make sure to check the rental listings for anything suspicious.  Thanks for the heads up Debe.

Every day I am sent updates and announcements for upcoming events in the Greater Hudson Valley of New York because of my involvement in youth based volunteer efforts, real estate, and my Hudson Valley Happenings with Paddy Pizappi blog.  This morning I received a special one regarding the formation of a Cub/Boy Scout Troop forming for special needs boys.  This troop will be sponsored by the 105th Airlift Wing of the New York Air National Guard  out of Stewart Air Base in Newburgh.  I feel the need to pass on this information to my readers in hopes that some lucky young men will be able to take advantage of this opportunity.

SPECIAL NEEDS CUB/BOY SCOUT TROOP

BEING FORMED

 
The Hudson Valley Boy Scouts Council Has Initiated The Formation of a Cub Scout & Boy Scout Troop

For Special Needs Boys Age 6-18

 Sponsored by Air National Guard

Parents Meeting To Be Held 7:00 PM, April 22^nd.

At Air National Guard Dining Hall

(Please e-mail or telephone your names to Steve Lerman at lermans@optonline.net / 610-3149 for clearance through the gate.

The troop will have volunteer mentors from Air National Guard

and possibly other scout troops.

Each child will receive specialized, individual attention.

Uniforms are optional.

Regular meetings will be held the second Wednesday of each month at the Air National Guard Base (Newburgh)

COME LEARN ABOUT THIS WONDERFUL OPPORTUNITY

FOR OUR BOYS!

PLEASE RSVP ASAP

I hope that some of my readers will take advantage of this unique offering.  Please write back and let me know if you do.  Children are our future and we need to nurture them as much as possible.  Let these kids have some fun and learn something new.  Thanks to our wonderful Air National Guard for once again coming through for our community.