Your Heights Home

 

Welcome once again to our monthly column on topics relevant to home ownership in our neighborhood. It is hoped that this column will generate topics from you specific to home ownership and home investing. My name is Holly Durfee and I will attempt to answer your inquiries in a question and answer format.   

 

Dear Holly – We are struggling with low FICO scores at our house and would really like to refinance our mortgage. We declared bankruptcy 5 years ago and it still shows on our credit report.  Any suggestions? Alex & Mickey

 

Dear Alex & Mickey – This is not my area of expertise but I do know someone who is the go to person for credit repair. Rolando Gonzalez at Nation Point Bank specializes in first time and tough to service customers.  He does more straight forward ones also but this market seems to abound in challenges. It doesn’t matter why your credit score is low or whether you are refinancing or seeking a first mortgage, the advice is the same. You must keep a cool head; you must be tenacious, relentless & persistent. He will coach you on what to do to improve your credit score and qualify you for new or more money. He is in the business of selling mortgages and he wants to sell you one as much as you want to buy one. Ask him to coach you and then do what he tells you. You can reach him at 772-631-2383. Some of my customers have also had success with Michelle Ericson at Washington Mutual. Same advice: ask for help; do what she says. 561-625-2582. (Sellers – if your buyer fails to qualify for financing, you might suggest they try and contact either of the above for help )

 

As an aside: If you are having trouble paying your mortgage, that’s another matter. Contact your lender now and see what you can work out. The sooner you call, the more responsible you appear. Perhaps you will be able to negotiate some forbearance on the payments or interest only payments if you don’t already have them. Everyone’s situation is different. Advice doesn’t come in one size that fits all. In either case, whether you have bad credit or you have fallen behind in mortgage payments, you must be pro-active.

 

Dear Holly – We unexpectedly have to put our house on the market, now.  What is the short list of stuff we must focus on? Bob & Ginny R.

 

Dear Bob & Ginny R. – Declutter. Start packing and put the stuff in storage or neatly stack it in the garage. Pack till the house looks bare. When it looks bare to a seller you have probably arrived at the place where there will be no distractions for the buyers. Also, once there is less stuff, it is a lot easier to clean. Spotless is still the gold standard a seller should seek. Once the house is half empty and totally clean you can touch up the paint, inside first, then outside. At this point you can list and start showing but that doesn’t mean you are done. The lawn should be mowed and edged and the bushes trimmed. Pay someone for a one time job if you are just too pressed to do it.  Start repairing everything you know is broken. If you suspect that there are a lot of repairs needed, stop and spend $350 on a home inspection. The result of which will help you focus on what to repair or whether to stop repairing and offer the house “As Is. This is the crash class, in an ideal situation you can plan some of this a year ahead and enjoy the benefits before handing over the keys. This is why deferred maintenance usually benefits a buyer. He gets to enjoy the fruits of your labors or he pays you less to do it himself. Also, if you know you aren’t good at any of this, just be thankful for the time you lived here and list the house “As Is”.

***Neighborhood update: 55 homes are currently for sale. 4 houses are under       contract and 7 have closed. Even in this subdued market, homes in the Heights of     Jupiter are changing hands. We still have a very saleable product.

Holly M. Durfee is a real estate salesperson at RE/MAX Jupiter-Tequesta. She is a Director on the Board of the Jupiter-Tequesta-Hobe Sound Association of Realtors, Inc. and has earned her CRS (Council of Residential Specialists) and GRI (Graduate Realtor Institute) designations. She has been a resident of North Palm Beach Heights since 2001. You can contact her at: hollymdurfee@aol.com