A new breed of insurance is emerging from the current unemployment crisis. Some mortgage lenders, home-builders and even realty companies are offering various forms of “job loss mortgage insurance.”

 Although not offered across the board, some real estate companies incorporate a “Worry Free Mortgage Protection,” that can be offered by home sellers. Genworth offers a similar protection package at no charge to buyers who purchase their mortgage insurance. Other organizations provide grants; for example, The Rainy Day Foundation assists home owners during their first 24 months after purchase if their lender or real estate agent has partnered with them. They can also offer tips for financial survival should a crisis occur. 

Not everyone qualifies for these protection packages – and make sure you understand all terms and conditions of these policies. To learn more about these options, and to find the Bennington, Vermont home of your dreams, contact Troy Richardson at RE/MAX Maple Leaf Realty!

You’ve seen the ads in the newspaper for mortgage foreclosure auctions for homes in the area.  Are you curious about how those auctions work?

If you do your homework and work with a Real Estate Professional like me, you won’t be buying blindly.

A lot of people are just plain scared because it’s a completely new experience, and it’s hard to jump right in without some guidance.  I’m here to give you that guidance.

I’m sure you’ve been to an auction, and don’t those auctioneers talk way too fast?  I think they have that patter of “auction-speak” to create excitement and get the crowd revved up to buy.  Some buyers let their excitement get the better of them and they over-bid.

I have a few tips to share on real estate auctions:

1. Work with a Real estate Professional, experienced in Auctions, like me!  I have spent considerable time learning the auction business from the buying perspective, and I can assist you with all of the steps below, and look out for your best interests.  I’ll even attend the auction with you and keep you focused on what’s important.

2. Inspect, inspect, inspect…. You cannot visit the property too many times!  By going to the property in advance of the auction, you can spend as much time as you want there looking over everything.  You’re not going to get a Seller Property Information Report like you would on a regular home sale, so you have to check things out for yourself.  How old is the roof, the furnace and the chimney.. These are all questions you need to answer for yourself.  Did you know the serial number on a furnace can give away the age of the unit?  That’s a little Realtor® secret I can let you in on.  In the Winter months, you also want to be sure you look for frozen pipes.  I can help you spot the warning signs of those.  Usually I can gain access to the house anytime, so call me to see an auction property.

3. Prepare….  You must read all the auction documentation.  Every auction company operates differently.  Do you need to bring a $1,000 cashiers check, or will a personal check be acceptable?  Do you need to pre-register or can you do it on site.  Is there a website where you can see more information as the auction date gets closer?  When I work with auction buyers, they are always prepared with the right documents and information they need so they are ready to buy.  If you don’t arrive at the auction with the proper documents and money, you won’t be able to bid.

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Your insurance company wants you to clean up your room! If you file a claim, most likely your claim will be paid according to the contract. But if you are found to have excessive clutter in or around your Bennington, Vermont real estate, it is possible your homeowner’s coverage could be canceled. Why? Because to the insurance companies, your clutter is a risk:
• Paper, trash and flammable materials are a fire hazard.

• Clutter could indicate a lack of maintenance on the property, such as plumbing leaks, roof or electrical problems. Damage from these problems could result in an insurance claim.

• There is an increased chance of rat or insect infestation, causing health and public safety hazards.

Call Troy Richardson for a property evaluation and learn how to get top dollar for your Bennington, Vermont home!

According to a British newspaper, a new 450-house development in the community of Farnsborough has instituted a “no pet” policy as a way to protect wildlife. The development is near a 32-mile stretch of heathland that is protected by the European Union Birds Directive. The directive requires area communities to protect, maintain and restore habitats.

So far, Bennington, Vermont has no communities that have a ban on pets as part of their homeowner guidelines. Pet owners are encouraged to call Troy Richardson to find the perfect Bennington real estate to call your home!

The number of contracts for pending home sales dropped after a flurry to get in on the first-time home buyer tax credit. Indicators based on those contracts fell 16.0 %  – but the drop was expected. Lawrence Yun, chief economist for the NAR, says, “We expect another surge in the spring as more home buyers take advantage of affordable housing conditions before the tax credit expires.”

What does that mean for Bennington, Vermont home buyers? Low mortgage rates will start to creep up – so call Troy Richardson today to start viewing Bennington VT real estate!

Five Ways to Shine in the Bennington, Vermont Real Estate Market.
• Think inside the box – add liveable space by improving an attic or basement.
• Look outside – add a deck to increase living space.
• The window to your sale – energy-efficient windows are a thumb-up for savvy buyers.
• The prize is behind door replacement – especially an entry door. That first look counts.
• Cook up a contract – replace ancient kitchen appliances with mid-level, energy saving new ones.

The 2010 plan to encourage energy efficiency is the government rebate for appliance buyers. The plan lets people swap their old appliances for new energy-efficient models at very low prices.
 
Here are some things to keep in mind:
·      State plans vary. For state by state specifics, check out the state-by-state rebate program.

·       Is it really a deal? It may not be worth replacing appliances that are fewer than seven years old, but older models can represent a real deal. Joe McGuire, president of the Association of Home Appliance Manufacturers, says a 20-year-old refrigerator uses three times as much power as a new Energy Star-approved model.

·       Buy now before it ends. There is only about $300 million available and some states got more money than others. It is expected to run out fast.

Source: The Associated Press, Vinnee Tong (12/30/2009)