What Determines My Homes Value?

Many people look to their neighbors’ homes to see what they sold for when they estimate what value their home may appraise for. However, that is just one of the pieces of the appraisal puzzle.

Here are some of the factors that are considered when determining value:

· Incentives and concessions. Most of today’s buyers expect to pay the lowest possible price and still get some extras. Sellers and home builders are offering money toward closing costs, remodeling and decorating, upgrades, and association dues. The price set initially may not be the final price once concessions are factored out. Appraisers care about that final number.

· Closing date. Forget what comparable neighborhood houses sold for a few months back. Appraisers want prices from the most recently closed transactions. “If a sale was more than 45 days ago, even 35, the price may be irrelevant.

· Condition and curb appeal. Appraisers typically find several properties with similar interior and exterior features to determine value. When markets are healthy, blemishes matter less, but when markets soften, problems—a dated kitchen or barren lawn—can reduce prices and deter buyers. The difference in value is not just the repair costs but the time and hassle to make them. It’s better for sellers to do work in advance.

· Foreclosures. Appraisers technically shouldn’t consider neighborhood foreclosures when valuing a home, since foreclosures don’t meet the Appraisal Institute’s definition of a property reasonably exposed in a competitive market. But when several neighborhood homes are abandoned, it’s hard not to caution sellers that this is a troubling trend and may affect home values.

· Changing demographics. If a house is in an up-and-coming area, the value can be expected to rise. A location that’s perceived as safe also may help attract the increasing number of single female buyers.

· Economic clouds. If there’s an oversupply of comparable homes for sale, or if the local job market is suffering, buyers may be hesitant to invest.

· Chemistry. It’s hard to account for those times when buyers fall in love with a house, despite a high price, poor condition, or tough economy. Emotional attachment is a factor that can’t be predicted. It’s what makes it harder to appraise homes versus commercial buildings, where buyers care more about the bottom line.

For more information on the value of your home feel free to contact joan@roglianorealestategroup.com, http://www.roglianorealestategroup.com/.

Take a Trip to the Denver Art Museum

Take a trip to the psychedelic era through 300 posters and the music, art, and culture that inspired their experimental design. The Psychedelic Experience includes works by the psychedelic poster movement’s major contributors, plus video, music, and activities that will transport you to Haight-Ashbury.


Denver Connections: You didn’t have to be in the Bay Area to hear the San Francisco Sound in the 1960s and ‘70s. By September 1967, the San Francisco Sound was becoming a national phenomenon, and promoter Chet Helms decided to open a Denver branch of his Family Dog Productions. The venue, at 1601 West Evans Avenue (now PT’s Showclub), hosted San Francisco bands like the Grateful Dead, Blue Cheer, and the Mothers of Invention.


Transport yourself back to the sights and sounds of the era in our Psychedelic Side Trip. Hear the music, create a groovy light show, design a poster, or share your secrets from the ‘60s in the Wayback Machine.



For more information visit http://www.denverartmuseum.org/home.



Joan Rogliano is the Founder of The Wildflower Group, an organization that strives to empower women with practical information about finances and real estate, and to create a sense of community. For more information visit www.wildflowergroup.net.

International Trend: Home Ownership Opens Up to Women in India

A higher real estate tax rebate and cheaper loans for women in some parts of India is increasingly attracting the fairer sex to invest in property.

States such as Uttar Pradesh, Delhi, Orissa and Punjab have reduced rates for women. A lower stamp duty rate helps in saving on the overall costs while purchasing property, thus acting as a significant boost for prospective women buyers.

The emergence of the new breed of women achievers who place career before marriage, the desire for self-acquired security and awareness of tax benefits has fuelled interest levels. Plus, the lack of hesitation showed by banks in lending to women is an added bonus. Women, regardless of whether they are married or single, face no specific problems in obtaining property loans today.

It is true that banks were earlier hesitant about granting loans to single women since they saw a possible loss of income and therefore inability to service the loan following marriage. However, this is the age of double income families and such misgivings are a thing of the past. About 20% of all loan applications are from women and almost half of those are unmarried.

Women today are on the same professional, personal and financial platform as men. They are independent, earning high salaries, driving their own cars, and have an impressive lifestyle full of luxuries. Owning a house makes them feel safe and secure for the future and serves as a wise investment option.

Joan Rogliano is the Founder of The Wildflower Group, an organization that strives to empower women with practical information about finances and real estate, and to create a sense of community. For more information visit www.wildflowergroup.net.

Federal Reserve Surprises Financial Markets

What the Fed just announced is huge – they have committed to buy another $750B in Mortgage Backed Securities, and $300B in Treasuries.

But what does this mean and why do you care?
Their actions provide a demand for Mortgage Backed Securities, which should help keep a ceiling on home loan rates moving much higher in the foreseeable future. That's good news, for homebuyers who are seeing the bargains out there and understanding that now is the time to act. Good news for those who are ready to refinance too.

But an important distinction – this does not mean rates may move significantly lower. Depending on exactly which coupons the Fed purchases when they go shopping for Mortgage Backed Securities, their actions may keep a lid on rates, but not push them very much lower. And based on what they've been buying since the beginning of this year when they started their purchasing program – that is exactly how it has played out.

Present home loan rates are within inches of historic lows. With home prices having declined and the homebuyer’s tax credit it just could be the perfect time to buy a home.

For more information regarding homes in your area feel free to contact joan@roglianorealestategroup.com, www.roglianorealestategroup.com.

Would you like to be Lord or Lady of the Manor?

The idyllic village of Linkenholt is on the market and, should you have a spare £25 million sitting in the bank, it could be yours in its entirety.

The historic village has 22 houses and cottages and is situated in the Test Valley in north Hampshire, a region designated as an area of outstanding natural beauty.The sale also includes a cricket pitch and pavilion, a three-story manor house, a village shop, a commercial shoot, blacksmith shop and farming land. The only property not included in the lot is the village church, St Peters.

The estate is currently owned by a charitable trust, set up by Herbert and Peter Blagrave, and the sale will raise money for the trust’s work in helping disabled children and injury jockeys.

Village residents currently rent properties in Linkenholt, and tenants will be allowed to remain in their homes after the sale. Whoever buys the estate will get everything, lock, stock and barrel. The tenants are hopeful that whoever buys it will run it like it is now and perhaps even move into the manor house.

It's an excellent opportunity for someone to invest in prime agricultural and residential property and it's a safe location to park their money in these troubled times.

If you would like information on real estate in your area feel free to contact joan@roglianorealestategroup.com, http://www.roglianorealestategroup.com/.

Is My Loan Eligible for Modification?

The details of President Obama’s Home Affordable Modification Program have been released. The Treasury Department’s report includes eligibility requirements to determine which homeowners qualify for relief under the plan.

Following are the eligibility requirements as specified in the guidelines:

• Mortgage must have originated on or before January 1, 2009.
• Home must be an owner-occupied primary residence – No investment properties or second homes.
• Home must be a single family 1-4 unit property
• Home may not be vacant or condemned.
• Borrowers in bankruptcy are not automatically excluded from consideration.
• Borrowers in active litigation regarding the mortgage loan can qualify for a modification without waiving their legal rights.
• First lien loans must have an unpaid principal balance equal to or less than:
• 1 Unit: $729,750
• 2 Units: $934,200
• 3 Units: $1,129,250
• 4 Units: $1,403,400

• Foreclosure actions are suspended during the trial period or while borrowers are considered for alternative foreclosure prevention options. If homeowners fail to qualify, foreclosure proceedings may resume.
• No minimum or maximum LTV ratio for eligibility purposes.
• Loans are eligible for only one loan modification under the program.
• Subordinate liens are not included in the Front-End DTI calculation, but they are included in the Back-End DTI calculation.
• Servicers should follow any existing express contractual restrictions with respect to solicitation of borrowers for modifications.

Applicants will be accepted into the program until the programs expirations date of December 31, 2012

Remember, these guidelines our just an outline of the program so don’t disqualify yourself based on them. Consult a loan modification specialist who works with lenders on a daily basis to review your situation and determine whether you are likely to qualify. Sometimes the only way to determine whether you qualify is to actually submit your loan modification application.

For additional information feel free to contact joan@roglianorealestategroup.com.

Get Designer Deals Online!

Every season in all the major cities, fashion designers offer their wares for below-wholesale prices. The catch is that these are invitation only events.

No need to worry – you can get the same deals on these five websites. Some even offer a credit towards your first purchase if you just follow our tips.

Hautelook.com: Clothing and cosmetics are discounted by up to 75%. Create an account at hautelook.com/realsimple and receive a $20 credit toward your first purchase.

Gilt.com: Clothes by big designers up to 70% off. Skip the invitation process and go to gilt.com/rs for an account and a $25 credit.

Ruelala.com: Formal and casual clothes as well as home goods for up to 80% off. Skip the waiting list and sign up at ruelala.com/simple.

Billiondollarbabes.com: Clothing from many established designers for 80% off.

Badjoan.com: Clothes and shoes from up and coming designers for 80% off.

Just point and click to shop like an insider!

Joan Rogliano is the Founder of The Wildflower Group, an organization that strives to empower women with practical information about finances and real estate, and to create a sense of community. For more information visit www.wildflowergroup.net

New Council and Ambassador Position Created to Focus on Women’s Issues

President Obama invoked the struggles of his grandmother, single mother, wife, and two young daughters yesterday in creating a White House panel to advise him on issues facing women and girls.

Obama signed an executive order creating an across-the-government council designed to help Cabinet agencies and departments collaborate on ways to make sure women were provided opportunities offered to men.

The president named senior adviser Valerie Jarrett - herself a single mother - to head the group, which would include Cabinet secretaries and other administration officials.

He said he signed the order to honor all the women who came before him, and said the fight for gender equality is far from over, citing pay disparities, domestic violence, and the relatively few women in Congress and in the executive offices of major companies.

Also, last week, President Obama along with Secretary of State Hillary Rodham Clinton, announced a new post of ambassador at large for women's issues around the world.

What a great way to celebrate International Women’s month!

Joan Rogliano is the Founder of The Wildflower Group, an organization that strives to empower women with practical information about finances and real estate, and to create a sense of community. For more information visit www.wildflowergroup.net

What is that technology, anyway?

We've all been there. We hear our friends, family, and co-workers talking about mysterious things called RSS, Wikis, and Twitter, and we secretly think...what is that anyway?

We try to hide the fact that we don't have a clue what they're talking about. Well no more. Enter Common Craft's "In Plain English" video series. These short, entertaining videos sum up hard to understand concepts usually in about 3 minutes or less. Besides their technology topics, they also cover how to save and borrow money, how phishing scams work, and why we should use CFL lightbulbs.

Check it out here http://www.commoncraft.com/show.

For real estate information feel free to contact joan@roglianorealestategroup.com, www.roglianorealestategroup.com, www.wildflowergroup.net.

Colorado Consumers: Verify Your Professional Is Qualified at DORA’s Division of Registrations Web Site

A little extra peace of mind is just a few clicks away for proactive consumers who take precautionary measures to verify whether a professional is licensed and without disciplinary actions via the online tools at the Colorado Division of Registrations web site:

www.dora.state.co.us/registrations.

The Division of Registrations, the largest division within the Colorado Department of Regulatory Agencies (DORA), strongly encourages Colorado consumers to visit the division web site to:

- Verify whether a professional is licensed or registered in Colorado.
- Check for disciplinary actions.
- Look up a physician’s professional profile.
- Find information on how to file a complaint.

The Division receives more than 4,000 complaints annually regarding Colorado licensees and registrants. DORA oversees more than 47 different professional categories encompassing more than 325,000 regulated individuals, businesses and entities across Colorado. They want to prevent these situations by educating consumers on how they can tap into the many resources and online tools available today.

As part of its ongoing consumer protection mission, the Division also is inviting community organizations to host talks led by Division representatives so the public can learn about available tools for empowering consumers. Interested organizations can call 303-894-7787 or email ronne.hines@dora.state.co.us to arrange a talk.

DORA is dedicated to preserving the integrity of the marketplace and is committed to promoting a fair and competitive business environment.

Feel free to contact joan@roglianorealestategroup.com, www.roglianorealestategroup.com, www.wildflowergroup.net.

We've Done It For You ~ An Easy to Read Summary of the New Housing Plan

Who Will Benefit from the Plan?

* Homeowners that are in distress and at risk of foreclosure.

* Homeowners that are current on their mortgages, have high interest rates, and little to no equity.
* Fannie and Freddie will receive a capital injection of $200 billion from the Treasury Department to increase the amount of available credit.

Who Will Not Benefit from the Plan?

* Those that are trying to either save a non-owner occupied home from foreclosure or want to benefit from newly introduced government backed refinancing guidelines
* If you are in an owner occupied home and you can’t afford the home because you have a complete inability to pay, lenders will not be forced to help nor will the government come to your aid.
* Absolutely no aid for speculators or second home owners.

What are the Specific Details of the Plan?

The new program rolled out on March 4th, 2009, focuses on three critical needs:

1. Incentivize lenders to modify loans for distressed borrowers.
Provide refinance options for homeowners that are current, but have homes with little to negative equity.
2. Increase the amount of available credit.
3. Incentivizing lenders to provide loan modifications:

Plan is voluntary for mortgage servicers except for Fannie Mae and Freddie Mac and banks that accept help from the government. These institutions must adopt loan modification plans.
The loan modification plan is for primary residences only, and will benefit borrowers with higher rates, adjustable rates, and interest only loans.

A Shared Effort to Reduce Monthly Payments:

* The servicer would reduce interest rates so that the monthly obligation is no more than 38% of a borrower’s income, and then the government would contribute money to bring payments down to 31% of the homeowner’s income. Servicers can also reduce the loan balance to achieve these affordability levels. The government will share in the cost, up to the amount the servicer would have received, if it had reduced the interest rates.

* Homeowners may be required to enter a debt counseling program as well.
* "Pay for Success" Incentives to Servicers: Servicers will receive an up-front fee of $1,000 for each eligible modification. They will also receive a monthly fee of up to $100 annually for 3 years, as long as the borrower stays current.

Incentives to Help Borrowers Stay Current

* Initiatives will provide a monthly balance reduction payment, that goes straight toward reducing the principal balance of the mortgage loan. As long as a borrower stays current on his or her loan, he or she can get up to $1,000 each year for five years.

Reaching Borrowers Early

* An incentive payment of $500 will be paid to servicers, and $1,500 will be paid to mortgage holders, if they modify at-risk loans before the borrower falls behind.

Home Price Decline Reserve Payments:

* An insurance fund of $10 billion dollars will be created by the Treasury Department. It will be designed to encourage lenders not to foreclose on mortgages because they fear a further reduction in home prices. Holders of mortgages modified under the program, would be provided with an additional insurance payment on each modified loan that is linked to a decline in the home price index.

On the need to provide refinance options for responsible borrowers:

* Those who are current on their payments and whose loans are held or guaranteed by Fannie Mae and Freddie Mac are eligible.

* The plan would help borrowers who owe more than 80% of their home’s value to refinance and reduce their monthly payments. However, the new mortgage, including refinancing costs, can’t exceed 105% of the current market value of the property.
* Borrowers with a second mortgage are eligible, as long as their first mortgage isn’t more than 105 percent of their home’s value.
* The value of the property will be determined after application is made to refinance.
* The government backed refinance program allows borrowers to refinance into 15-year or 30-year fixed-rate mortgage at prevailing market rates.

Increasing the amount of available credit:

* More capital will be supplied to Fannie Mae and Freddie Mac in the amount of $200 billion.
* This capital will be used to add to the amount of available credit to individual borrowers.
*This new injection of capital will allow Fannie Mae and Freddie Mac to expand the size and scope of their mortgage portfolios, perhaps as a safety valve for banks on the brink of insolvency.

Homeowners may be asking "What’s the benefit of giving my mortgage servicer my tax dollars to help me save my home?" Actually, it will do a lot of good. Now mortgage servicers can recoup fees and possibly make money by helping with a loan modification.

Before the plan, servicers would receive fees when one of the homes they serviced went in to foreclosure. Now, servicers have a monetary incentive to prevent a home from going into foreclosure. Without such payments, servicers, might continue to foreclose on securitized mortgages, even when foreclosure is not in the interest of the borrower or the lender.
This will also be reflected in more stable home values for everyone due to a reduction in foreclosures.

These monetary incentives are the key to the Obama plan. Moreover, these incentives set this new plan apart from past attempts to stem the tide of foreclosures.

What Is All This Talk About Permaculture?

The term permaculture, meaning "permanent agriculture" was coined in the 1970's by Australian Bill Mollison. Originally it was a beneficial assembly of plants and animals in relation to human settlements, mostly aimed towards household and community self reliance, and perhaps as a commercial endeavor only arising from a surplus from the system.

However, permaculture has come to mean more than just food sufficiency in the household. Self-reliance in food is meaningless unless people have access to land, information, and financial resources. So in recent years it has come to encompass appropriate legal and financial strategies, including strategies for land access, business structures, and regional self-financing. This way it is a whole human system. When correctly designed such a system will, like a natural ecosystem, become increasingly diverse and self-sustaining.

All permaculture design is based on three ethics: Care of the earth (because all living things have intrinsic worth); care of the people; and reinvest all surpluses, whether it is information, money, or labor, to support the first two ethics.

Modern permaculture is a system design tool whose approach follows these 4 simple steps:

1. Looking at a whole system or problem

2. Observing how the parts relate

3. Planning to mend sick systems by applying ideas learned from long-term sustainable working systems.

4. Seeing connections between key parts.

Actually, you could apply these steps to all areas of your life. Once again, we are shown that we can learn a lot from Mother Earth.

Feel free to contact Joan@roglianorealestategroup.com or visit http://www.roglianorealestategroup.com/, http://www.wildflowergroup.com/.

Mortgage Deduction at Risk in U.S. Budget

A new proposal in the Obama administration's federal budget outline would limit the mortgage interest deduction (MID) amount for thousands of families, which would impact the housing market for everyone.

The NATIONAL ASSOCIATION OF REALTORS®, which has supported the Obama administration’s housing and stimulus plans, is opposed to this proposal. NAR President Charles McMillan has sent a letter to President Obama, saying that "there is never a good time to propose something that undermines the basic foundation of homeownership."

McMillan also released the following statement to members this afternoon:

"Fellow REALTOR®,You may have seen news reports about President Obama’s Budget Proposal that was released today at 11:30 a.m., Eastern Time. A small section of the sweeping budget plan has the potential to become a major impediment to a recovery in real estate markets across the nation. NAR is 100 percent opposed to the provision that modifies the Mortgage Interest Deduction and is prepared to use its formidable array of resources against its enactment.As currently drafted, the plan changes the Mortgage Interest Deduction by reducing the amount of mortgage deductibility on families earning over $250,000. This proposed change in the Mortgage Interest Deduction will result in further erosion of home prices and home values. If this proposal is enacted it will set off a new round of price depreciation, will cause greater distress on the balance sheets of banks as the collateral value of mortgage backed securities declines. A second credit crisis could emerge before the first one is resolved.As you read this NAR is launching a multiphase plan of action to eliminate this provision from the budget plan. In the next 24 hours, NAR will be expressing our concerns directly to President Obama, to all members of the United States House of Representatives and the Senate, placing advertisements in the publications read by Washington, D.C., decision makers. Additionally, NAR will be forming a coalition with other groups affected by this proposal. This communication is the first salvo of our response, we will continue to update you as the situation and events warrant."

For more information read: REALTORS® Oppose MID Reduction

For real estate information contact joan@roglianorealestategroup.com or visit www.roglianorealestategroup.com.