E-Newsletter July 2018
In This Issue
Welcome to our e-newsletter "The Real Estate Corner." This newsletter is sent out the first week of every month. We wanted to provide a newsletter that provides current information on the real estate market, economy, tax tips, and more! In addition, there are some fun things like golf tips, and recipes for your enjoyment. I hope you find these to be useful. If you wish not to receive this newsletter in the future, you can unsubscribe at the bottom. Enjoy!

Why Do Buyers Need A Mortgage Pre-Approval?

Every real estate professional should be asking their buyers in advance, if they are not paying for the property via cash, have they met with a lender and have a "pre-approval for a loan" Unfortunately some do not ask! This may seem very invasive or pushy to ask for this in the beginning of the relationship. I think it depends upon when and how the agent asks. It would be like going on a first date and asking the other person how much money they make.

Although a "pre-approval" does not mean you are 100% guaranteed a loan, it is very important for realtors to confirm they are working with someone who can qualify for the home they are trying to purchase. Many seller's agents will ask that the buyers offer to be accompanied with a "loan pre-approval letter." If you are in a multiple offer situation, it could put you in a secondary position without this.

Sometimes buyers will be overly confident in their abilities to qualify, or they want to find the home first. As a rookie agent, I learned my lesson the hard way when I working with a couple on purchasing a builder's inventory home. They told me not to worry about financing when I asked if they have met with a lender, due to their high down payment and high credit score. They put $200,000 down on $510,000 new builder's inventory home, while using the builder's mortgage company. They were denied the loan having a 815 Beacon credit score (currently the highest is credit score one can obtain is 850) They were told the loan was denied based on too high debit to income ratio!

Needless to say, I learned my lesson the hard way! Most lenders will give you a pre-approval letter based on your offer, while some will issue one letter showing the maximum amount they will allow you to borrow. I am not as keen on this, as it shows sellers you have the ability to pay more for the property when negotiating the purchase price.

Should I Accept The First Offer On My Home?
The short answer is usually going to be "yes." Seller's will most always feel that they "left money on the table" if they take that first offer. Therefore, they instruct their agent, to continue marketing the property for another offer. (Hopefully higher!) With today's technology, it is easy to overlook the efficiency in the real estate marketplace. However, with a very advanced Multiple Listing System, (MLS) licensed agents and their buyers can virtually access instant information about properties and new inventory that becomes available immediately.

A good buyer's agent will have electronically entered a "profile" of his/her client's needs and price range into the system. That might be MLS or some other database that will provide property information. The MLS is the most accurate and current database available to date. Whenever a potential buyer logs on to the MLS, he/she will be notified if a listing has been entered that matches that profile. In most data- base systems, the buyer's agent is able to place the buyer himself on a similar notification.

Sellers, will often want to list their property for an amount that is both higher than what they believe its value to be and higher than what they would be satisfied to receive. Why? Because they know that buyers almost always want and expect to pay less than the listed price. Additionally, sellers usually have a "net" number in mind that they would like to receive on the sale of the property (after commissions) and realtors will sometimes try to accommodate the sellers by setting a higher price. This is not good practice! If an offer comes in near the outset of a listing period, although you may be tempted to hold out for full price, or much closer to it than would normally be expected, you may want to re-consider. Sellers may want to consider the costs for waiting for another offer. (i.e., mortgage, insurance, taxes, utilities, etc.) The longer a property stays listed in the MLS, the less activity you may receive. Other considerations is what if there is a market shift from a "sellers" market to a "buyers" market. What if interest rates where to rise significantly?
River Strand Community June Updates

In the month of June, 8 properties were sold in River Strand community ranging from $164,500- $292,000. Currently there are a total of 32 available including single family homes, coach homes, villas, and condominiums available to purchase from $176,900 to $990,000.

If you, or you know of someone who is looking to sell, buy, or invest into real estate in the near future, please contact us at Keller Williams On The Water. We appreciate the opportunity to assist you, your family, or friends with all your real estate needs!

Notes: All index returns (except S&P 500) exclude reinvested dividends, and the 5-year and 10-year returns are annualized. The total returns for the S&P 500 assume reinvestment of dividends on the last day of the month. This may account for differences between the index returns published on  Morningstar.com and the index returns published elsewhere. International performance is represented by the MSCI EAFE Index. Past performance is no guarantee of future results. Indices are unmanaged and cannot be invested into directly .

"A wise person should have money in their head, but not in their heart." 

- Jonathan Swift

Raspberry Swirl Rolls
Serves 12

  • ½ cup whole milk
  • 1¼-ounce package active dry yeast
  • 2 tablespoons granulated sugar
  • 3 cups all-purpose flour
  • 4 tablespoons unsalted butter, melted
  • 1 teaspoon kosher salt
  • Oil, for pan
  • cup raspberry jam
  • 2 teaspoons lemon zest
  • 2 tablespoons fresh lemon juice
  • 2 cups frozen raspberries (do not thaw)
  • 2 tablespoons heavy cream, for brushing
  • ½ cup sour cream
  • ¼ cup confectioners' sugar, sifted
  • ½ teaspoon pure vanilla extract
  1. Heat milk and ½ cup of water on medium-low in small saucepan until warm (but not hot).
  2. At the same time, whisk yeast, granulated sugar, and 1 cup of flour in a large bowl. Stir warm milk into the bowl. Cover and set to the side until the mix is thick and foamy, about 15 minutes.  
  3. Put in melted butter and salt and slowly mix in remaining 2 cups of flour. Cover the mix. Let it rise until it doubles in size, about 1 hour.
  4. Coat an 11" x 8" casserole dish lightly with oil. Lay parchment paper in a pan as a lining; leave 3" overhang on the 2 long sides. Oil the parchment paper.
  5. Mix jam, lemon zest, and 1 tablespoon of lemon juice in a small bowl.
  6. Lay the dough on a floured surface and roll it into a 12" x 9" rectangle. Spread jam mixture over the top; then top with raspberries.
  7. Roll dough from the long side into a tight log. Pinch the seams to seal.
  8. Use a long piece of unflavored dental floss to cut the dough log into 12 1" thick rolls. Use the floss by sliding it underneath the dough.
  9. Place the rolls, cut sides up, onto the prepared pan. Cover the pan and let the rolls rise until they have doubled in size and begin to touch each other, 50-60 minutes.
  10. At the same time, heat the oven to 375°F. After brushing the rolls with heavy cream, bake until they are puffy and light golden brown, 25-27 minutes. Let the rolls cool on a rack for 10 minutes.
  11. Frosting: Mix sour cream, confectioners' sugar, vanilla, and the remaining 1 tablespoon of lemon juice. Spread the frosting over the warm rolls.

Recipe adapted from Good Housekeeping[18]


What is Phishing and How to Protect Yourself *

Everyone wants a piece of your pocketbook, especially cyber swindlers who send enticing or threatening messages hoping you'll go along with their scam. 

It's called phishing, and Internet hucksters use the tactic to persuade their victims to hand over personal or financial information. The information is then used to steal victims' identities.  

The IRS periodically issues taxpayer alerts on phishing schemes, which often use the agency's logo and link to a website clone. The agency also provides a list ( https://www.irs.gov/newsroom/phishing-and-other-schemes-using-the-irs-name) of scams and news releases on recent ones.  

Taxpayers who receive suspicious emails that claim to originate from the IRS may forward them to the agency's scam mailbox, phishing@irs.gov.  

You can obtain additional information about sending phishing emails to the IRS at https://www.irs.gov/privacy-disclosure/report-phishing.

Other details may apply, and you can find more information on the IRS website.

This information is not intended to be a substitute for specific individualized tax advice. We suggest you discuss your specific tax issues with a qualified tax advisor .

Tip adapted from IRS.gov [19]
Fixing Crooked Iron Shots

Top golfing coaches say the best way to achieve lower golf scores is through better ball control, particularly the clubface.

Golf instructor Tony Ruggiero - Director of Instruction at the Country Club of Mobile, Alabama - says successful players turn their left (or weaker) wrist down during the swing, which matches the movement of the clubface. The face remains square at impact, eliminating most of the rotation. This makes the ball's flight more predictable.

Ruggiero suggests players start focusing more of their attention on the clubface.  

"Imagine the logo on the back of your glove is a mirror image of the clubface," he said. "If you want the ball to go straight, have the back of your glove pointing at the target at impact. The most common mistake? Players who slice usually have the logo pointing up and to the right."

Tip adapted from Golfworld[20]
The Scoop on Sleep Disorders

The saying "you snooze, you lose" may be about urging people to pay attention. But for millions of sleep-deprived Americans, getting a good night's sleep would be a big win.

Sleep disorders hamper people's ability to get adequate rest and can lead to health problems.  

Researchers say sleep deprivation may cause car crashes, relationship problems, poor job performance, injuries, poor memory, and moodiness. Sleep problems may also exacerbate heart disease, obesity, and diabetes.

How much sleep do you need?
  • Infants: 12-15 hours
  • Toddlers (ages 1-3): 11-14 hours
  • Preschoolers (ages 3-5): 10-13 hours
  • Schoolchildren (ages 6-13): 9-11 hours
  • Teens (ages 14-17): 8-10 hours
  • Adults: 7-8 hours
Insomnia occurs when you can't get to sleep for many nights or you stay awake for hours. Insomnia may be caused by bad habits, such as drinking coffee or having a heavy meal too late in the day, or leaving the television on.

Seek medical advice if you think you have a sleep disorder. Your doctor may ask you several questions:
  • What time do you go to bed and get up?
  • How long and well do you sleep?
  • How long do you stay awake in bed?
  • What have you been eating and drinking?
  • What drugs do you take?
Treatment for a sleep disorder may include using a continuous positive airway pressure (CPAP) machine. Other sleep disorders are often treated with lifestyle changes and medications.

Exercise in the late afternoons can also help promote restful sleep.

Tips adapted from WebMD [21]
Rowing Your Way to Going Green

Going green and going boating. How much more environmentally connected can you get? Yet too many boaters carelessly litter the waters with plastic bags, 6-pack rings, fishing lines, and food wrappings. The plastics pose a serious pollution threat to lakes, rivers, and oceans.

Here are 4 tips to help keep the waters plastic free:
  1. Take along trash bags on boating trips for disposal of plastics, which includes fishing lines. Throw away the bag on land when you're done.
  2. Get reusable and washable containers for food and other items. This reduces the quantity of plastic you take on boating trips. 
  3. Properly dispose of fishing lines, which can kill fish and other marine life.
  4. Break or cut plastic 6-pack ring loops. This ensures that if the loops fall or are blown into the water they won't entangle fish or trap fish.

Tip adapted from EarthShare[22 ]
Share the Wealth of Knowledge!
Please share this market update with family, friends, or colleagues. If you would like us to add them to our list, simply click on the "Forward email" link below. We love being introduced!



Visit My Site