Three Central High School seniors are National Merit Semifinalists--Lessley Dennington, Blake Kidd and Noor Wadu. They are among those singled out from the over 1.5 million students who take the PSAT annually. With 341 being honored in the state of Missouri, the three from CHS are the only winners from the 18-district Southeast Missouri region. The scholars are planning careers in law, biomedicine, and biomedical engineering. Read their profiles in the following links to Southeast Missourian articles: Lessley Dennington Blake Kidd Noor Wadi The Southeast Missourian also saluted all three in an editorial. Congratulations to all three, their parents, and the school district!   02/27/2011

Betcha did not know that, did ya? It's true, and here's the proof (publication EPA-747-F-96-002, in case you want to look it up yourself): ___________________________________________________________________________________________ Most REO sellers know, however, that most other parties in a residential real estate transaction will NOT KNOW this fact; so they will usually provide the Lead Based Paint Disclosure, either up front or when asked to do so. REO sellers are exempt from the legislation, because they are presumed NOT to have knowledge of pre-existing conditions, inspections, and/or any remediation efforts. The REO seller is also exempt from FHA/VA disclosures (Handbook4155.1REV5,Section3-4): _________________________________________________________________________________________... 02/22/2011

Designated Agency is what most clients think they are getting when they sign a listing agreement for the sale of their house. Clients usually believe that the agent with whom they sign is their representative. Designated agency simply means that other agents in the company do NOT represent the client. The client's representative is the person whose name is on the contract (listing agreement or buyer's agency contract). The listing, however, does not BELONG to the agent. It belongs to the agency. When the listing does NOT have a DESIGNATED agent, all agents in the company become agents of the seller (or the buyer, in the case of a Buyer's agency agreement). Being responsible to a client one has never met is a pretty high mark for every agent in the company. That is especially true if the... 02/18/2011

"Wing walls need railing," was on the FHA appraisal, and the client was mystified. Since it was an FHA appraisal and it involved a railing, I knew the appraiser was talking about a wall or ledge off of which someone could fall. I had never heard the term "wing wall." The house did not have an open stairwell, so I asked the client if there were any photos. "Only of the outside of the house," she said. That was the clue I needed, as I realized the appraiser was talking about the retaining walls on either side of the walk-out basement. A retaining wall at the corner of the house is a wing wall. While remembering that term is not important for homeowners, knowing that those walls can be cited as a safety hazard is important. A retaining wall anywhere on the property may be a target for an F... 02/09/2011

The responsibility for arranging utility turn-on rests with the buyer and the agent for the buyer, NOT WITH THE LISTING AGENT or the inspector when purchasing a HUD owned property. So, be prepared for that from the start, but also know that there are additional caveats. While most state contracts provide for permission to do inspections, HUD contracts for sale do not. In the case of a HUD home, the buyer must first complete the Home Inspection Request form that came with the contract package and return the form (with a copy of the contract) to the specified Field Service Management office. Not only does the buyer have to get permission to do inspections, the buyer or the buyer's real estate company must make arrangements to turn on utilities for those inspections. Prior to turning on ut... 02/05/2011

Hmmm. They already told you what they will take, and that is the listed price. It's when "What do you think they will take" is followed by "Maybe I'll just test the water" that a savvy agent needs to step up to the challenge. When testing the water equals wasting time for everybody involved, statistics may help bring the offer more in line with reality. Sold prices are edging closer to listed prices (see charts below). Without giving advice, I can tell the questioner that properties in our local MLS have averaged selling for 94.4% of the listed prices in the last three months (10/29/2010 to 1/29/2011). During the three months before that, properties averaged selling for 92.2% of the listed prices. Sold prices are getting closer to the listed prices, and that is happening locally, in spi... 01/29/2011

Dewinterizing a foreclosure property is not as simple as turning on the water, so please do NOT schedule your inspector to visit the property right after your offer is accepted. A few things need to happen before the water will actually be on in the house. You (or your client) must actually be under contract. That means the contract must be signed by all parties. That is not the same as having an accepted offer in hand or even having submitted a buyer-signed contract and addenda. Until we are actually under contract, either party can withdraw the offer. Winterization must be ordered, usually through a national property preservation vendor. The national vendor contacts the local vendor, who then makes arrangements to send someone to the property. Property preservation has a specified amo... 01/26/2011

Fannie Mae, Freddie Mac, and HUD give priority to owner occupant buyers, and all three require buyers to state whether they are owner occupants or investors. Don't even THINK about misrepresenting yourself as an owner occupant if you will not personally be occupying the property. As a listing agent for Fannie Mae and HUD, I am sometimes asked to do research to verify that a bidder is, indeed, an owner occupant. I am REQUIRED to report it, if I suspect misrepresentation. I take that responsibility very seriously. The following is a statement you will be required to sign if you are making an owner occupant offer on a Fannie Mae property (the others have similar statements): This is to certify that consistent with the representation made by me in the Real Estate Purchase Addendum, Section ... 01/25/2011

What happens next if the seller of a property does not respond to your offer before the deadline stated on your paperwork? That depends on you, actually. In part 1 of Time's UP, I outlined realities and suggestions for buyers.  And now for the realities of REO! The REO seller does not even know when your offer expires. Maybe it's a little-known fact, but they don't actually see the offer. The seller sees a computer summary of only what they consider the significant facts-usually that includes offering price, date of closing, financial specifics (including type of financing, LTV, and lender information), requested inspection timeframe, buyer type (owner occupant, investor), and what concessions the buyer is requesting (such as closing costs). The date your offer expires often is NOT EVEN... 01/20/2011

HomePath.com is the Fannie Mae consumer website. If you are interested in purchasing a foreclosure property, it’s a good place to start. Not only can you search for Fannie Mae properties that are for sale in your area, you can learn about HomePath financing, be introduced to the FirstLook program, listen to podcasts, and access a complete Buyer’s Guide. If you are seriously considering a HomePath property, please also click on the HomePath Financing tab. Choosing a HomePath lender will save you money. You certainly do not have to use a HomePath lender to purchase a Fannie Mae foreclosure, but you will be amazed at the savings. You do not have to pay anything to start looking for foreclosure properties. Your best friend in a search for a foreclosure is the same person who would be your b... 01/16/2011

My sister Linda had double mastectomies (one was a radical mastectomy), and 22 lymph nodes were removed. The doctor says that she will have three maybe four more surgeries over the next year to complete reconstruction. The amount of radiation she will need depends on test results. It has been seven months since she was diagnosed, and she had chemotherapy for six of those months--so this has been emotionally, financially, and physically draining. She's in a lot of pain now and will be for at least two weeks. It's been a long day, and I'm staying at the hospital with her tonight (to let her husband and daughters get a good night's sleep, finally). She will be dismissed tomorrow, if all goes well; but she will have surgical dressings and five drains for up to two weeks. She's in for a long... 01/13/2011

I had to turn my car around and go back to take this photo when I passed Cedar Hills Subdivision this morning (Hwy 177 just at the north edge of the Cape Girardeau, MO, city limits). It sure looks like this flock is being led by the one "snow" looking goose! Actually, I believe that these geese are the locals who live at the subdivision's lakes. Unlike the city flock at Capaha Park, these guys do not have shelter. With a major winter blast coming in tonight, I hope they find a place to hunker down! 12/11/2010

For three weeks last month, death hovered around my Mom. I took her to the doctor that first week of October, because she had been losing weight and was getting increasingly weaker. She would barely keep her eyes open. Since Mom had suffered bouts of MRSA twice before and had gone through a tough round of pneumonia in January, we decided to take her to the office of one of the doctors who had treated her in the hospital. She had only been running a slight temperature sporadically and her care-givers at the nursing home thought she just had a "little bug," but the doctor sent us straight to the hospital. "She is definitely too sick for a doctor's office," he told me. He said he could prod and poke around on her in the office, but everything he did there would have to be repeated at the h... 11/25/2010

I wanted to be sure that they did not take flight and end up in the grill of my car, so I slowed down. At first, they were watching me while I was watching them graze in the expansive front lawn of the Good Shepherd Lutheran Church. I couldn't believe it when they alerted but did not run from me as I pulled my car into the lane and grabbed my camera. Though I was sure that I would never be so lucky as to actually get a decent photo, I did manage to get outside of the car and take a few shots before they bolted. A creek with a somewhat rugged bank runs behind the church, and they headed for the cover in the brush along the creek. Though they may be "townies," there's a limit to how much human interaction they will tolerate. 09/22/2010

Now that I've been a REALTOR® for a few years, I understand the connection an agent has to a house she listed or sold. After I have listed it or sold it, the house is no longer just another house. I know its rooms. I have been in the basement and looked where most visitors never would--the furnace, the hot water heater, the garbage disposal under the sink, the storage areas in the basement and the attic, the closets, and the garage. It was an intense relationship while it lasted. When I drive by, I cannot help but think, "I sold that house. I know that house." I showed a house yesterday that I had listed a couple of years ago, and it was a joy to be in the house and see how it has changed. New carpet, different paint, and a remodeled kitchen did not take away the familiar feel of it. Th... 09/20/2010

It was an innocent question from a brand-new agent who was going on her first agent tour, and she was serious when she asked the question. She thought it was her job to come up with a sales pitch that would convince would-be buyers. "I don't pitch a house," I told her, "and neither should you." That conversation came to mind this weekend when a different agent called to tell me that her clients will not be countering the seller. This relatively inexperienced agent made a mistake similar to the the error made by the brand-new agent who asked the "pitch" question. Agent 2 had killed her own deal. The second agent presumed too much about the house she was trying to sell, but she did the opposite of pitching. She worried aloud about potential defects in the house. The 26 year old house is n... 09/12/2010