When I am being interviewed to be a seller's second (or third) Realtor, I always ask, "Why do you think your house didn't sell?"  The answer I hear most often is:   "It's a terrible market."   Well, actually, it's the ONLY market we have, so we have to deal with it.  That means you have to be a seller in the state of REALITY and not in the state of DENIAL.  The Market IS what the Market IS.  It's what a buyer is willing to pay and a seller is willing to sell for. (apologies to the English majors for ending a sentence with a preposition).  

Consider this analogy:  If we both bought stock in IBM around the same time 5 years ago, and I just sold my IBM stock last month and got "X", one would naturally assume that when you sell your IBM stock today you will also only get "X", not X+, right?  If you demand X+ from your stockbroker because you "need" the money, what will she do?  She'll say, "I'm sorry, but the market doesn't care what you need, it's only selling for X."  Can you make her sell it for X+?  There isn't a market for it.  It's the same principal with a home.  Please hear me out about why I think houses are the same as a stock.  

Think about a Mutual Fund.  People buy into and sell out of a mutual fund all year long--when you buy in, everyone pays the same price on the same day or sells at the same price on the same day.   Think about your home as being a "share" and your neighborhood as the "Mutual Fund."  We need to look at how your "Mutual Fund" performed since you invested into it.  I look for nearby houses that were purchased in the same economy in which you purchased (give or take 3- 6 months) and who also just resold in the last 6 months, the same economy in which you are attempting to sell.  That gives me a bigger picture of the appreciation/depreciation an area has had year over year.  For example, if the overall average annual depreciation is -1.78% for the past 6 years, I wouldn't expect your house to sell at 3% appreciation unless you had pumped significant amounts of cash into it, but that's what sellers are consistently trying to do.  

 Next we factor in the updates, features and amenities that make a house superior to the other unsold properties currently on the market.  Often I am met with a list of updates and upgrades that a seller put into their home and they naturally assume they can add that on to the price paid to arrive at a fair asking price.  If today I bought a top-of-the-line Kenmore Stainless Steel Side-by-Side Refrigerator with water and ice on the door, paid $2,000, brought it home, set it in the garage still boxed and then changed my mind about the purchase and tried to sell it on Craigslist, what would someone pay me for that brand new refrigerator?  $2,000?  I wish.   $1,800? $1,600?  It's brand new.  There's nothing wrong with it.  But yet I would be forced to sell it at a discount because the public somehow considers it "used".   Same with a house.  What amount of money does a seller expect a buyer to "reimburse them" for used granite countertops, used stainless appliances, walked-on flooring, used paver patio, 1 year old furnace, or expensive in-ground sprinkler system?  Everyone puts money into their house--in fact, NAR states that you must invest 1/2-1% of your home's value into your home every year just to maintain market value!  

If you are serious about selling, let me show you my proven plan to get homes sold in this market and for the best and highest price possible.  

I'm Sandie Hea and I've sold over 1,000 homes in my 25 year career with RE/MAX.  If you, or someone you know is getting ready to sell their home, call me.  I consider it a privilege to share my market expertise with you.  

RE/MAX University Recognized for High Quality and Real Results

Denver, CO – Two of the most distinguished corporate training competitions have honored RE/MAX University for its high level of performance.  Training magazine has named RE/MAX to its 12^th annual Top 125 list of leading organizations in the field of corporate-sponsored training.  In addition, RE/MAX has been recognized by the Brandon Hall Excellence Awards in the category of  “Best Use of Blended Learning.”

 “RE/MAX has always placed a very high value on the quality of our training, and we have dedicated considerable resources to ensuring the success of our brokers and agents,” said Dave Liniger, Chairman and CoFounder of RE/MAX, LLC.  “We know our extensive training programs make a difference; equipping our agents to better serve the consumer, and resulting in the creation of the most productive sales force in real estate.”

In the Best Use of Blended Learning category of the Brandon Hall awards, RE/MAX was in the company of respected award recipients like The Walt Disney Company and McDonald’s.  Among the Training Top 125, were such notable corporate names as Federal Express, Intel, and UPS. 

In 2010, RE/MAX enhanced its training program, establishing RE/MAX University, following the successful 16-year track record of RE/MAX Satellite Network.  RE/MAX agents lead the industry with professional designations/certifications, with nearly 65,000 earned at home or in the office through the use of RE/MAX University.

Now distributed via high-speed broadband Internet service, RE/MAX University is a 24/7, on-demand platform that includes over 1,000 titles in its library.  The RE/MAX University system is capable of delivering HD quality video programs and online training to multiple devices such as: personal computers, television sets, smart phones and other personal digital devices.  The RE/MAX University platform is provided at no cost to all RE/MAX Affiliates.

Because RE/MAX has a presence in more than 80 countries around the world, its training materials are available in multiple languages and is distributed to international affiliates from the RE/MAX Global Education Center in Denver. Although the methodology of the two rankings differ slightly, competition is known to be fierce, and winners must link their training initiatives to specific company goals and objectives, with verifiable results.

 “Our training is both comprehensive and flexible, able to change focus with an evolving marketplace.  This is why RE/MAX agents continue to outperform their competition in a market that challenges the very best agents in our profession,” added Liniger.

RE/MAX University offers a great variety of programs, from the very latest in industry trends and designation/certification courses to customized presentations by some of the most respected trainers in the real estate industry. For information please visit www.remax.com or www.joinremax.com.
 

About the RE/MAX Network:
RE/MAX was founded in 1973 by Dave and Gail Liniger, real estate industry visionaries who still lead the Denver-based global franchisor today. RE/MAX is recognized as one of the leading real estate franchise companies with the most productive sales force in the industry and a global reach of more than 80 countries. With a passion for the communities in which its agents live and work, RE/MAX is proud to have raised more than $100 million for Children’s Miracle Network Hospitals, Susan G. Komen for the Cure® and other charities. Nobody in the world sells more real estate than RE/MAX.  For more information about RE/MAX, please visit www.remax.com or www.joinremeax.com

About Training Magazine:
Training is a 47-year-old professional development magazine written for training, human resources, and business management professionals in all industries that advocate training and workforce development as a business tool. Training also produces world-class conferences, expositions, and digital products that focus on job-related, employer-sponsored training and education in the working world. Training is published by Lakewood Media Group. www.training-mag.com

About Brandon Hall Group:
Having worked with more than 10,000 clients globally and after 19 years of delivering world-class solutions, Brandon Hall Group is the preeminent research and analyst organization focused on developing research-driven solutions to drive organizational performance for emerging and large organizations.  Brandon Hall Group has an extensive repository of thought leadership, research, data and expertise in Learning and Development, Talent Management, Sales Effectiveness, Marketing Impact, and Executive Management. www.brandon-hall.com  

Okay, so I know this has nothing to do with real estate, but I couldn't help passing this along as more and more friends suffer devastating losses which become especially painful this time of year when it appears everyone else is celebrating and happy.   

Have you ever found yourself at a loss for words when you encounter a friend who is hurting?  You often don't know WHAT to say---and what not to say.  I recall seeing a woman at the St. Louis Hills Art Fair in September whom I did not know and never saw before.  She had a scarf on her head, covering up what was probably a bald head due to chemo.  I didn't want to stare, but I wanted to connect in some way, so I went up to her and asked a question, I don't recall what it was now.  She (Karen) was so touched by that gesture I will never forget it.  She said "I'd much rather someone ask me what happened than to just stare" and we engaged in a conversation about her ordeal.

Here are some suggestions from Focus on the Family's counseling team to help you reach out with genuine help to someone in pain.

DON'T serve up platitudes:  If your friend just suffered a miscarriage, even well-meaning phrases like, "It wasnt meant to be" can be extremely hurtful.

DON'T turn someone's problem into your story:  When you learn of someone's pain, it's human nature to want to share "what happened to me one time."  Don't.  Keep the focus on your friend.

DON'T be quick to say you understand:  You might have experienced a similar loss or setback, but your friend's circumstance is different.  Listening shows you want to understand.

DO acknowledge the pain:  Always reach out and empathize.  Saying, "You must really be hurting" is a good way to break the ice and communicate that you care.

DO offer a hand:  Although you can't solve every problem, your offer of assistance will be appreciated.  Go ahead and ask, "Is there anything I can do to help?"

DO be honest:  It's OK to admit, "I wish I knew the answer to your problem, but I just don't."  In the end, simply listening may be the biggest help. 

Above all, pray with and for your friend.

Laclede's Landing is downtown St. Louis' oldest district, filled with fascinating history. It's the true original seat of St. Louis; Laclede's Landing was established as a trading post in 1764 by Pierre Laclede Liguest, who named the surrounding settlement “St. Louis” in honor of King Louis IX of France.

Laclede's Landing Food & Entertainment
Strategically located where the Mississippi and Missouri Rivers meet, Laclede's Landing is the perfect venue for riverboat dining and entertainment options in the St. Louis area. Below are some of the best offerings in both categories.

• Joey B's on the Landing -  Rachael Ray loved Joey's "Square not Round Pizza" and you will, too! The extensive menu also includes delicious appetizers, soups & chili, wraps, sandwiches, burgers, a great kid's menu and more. Large-screen TVs deck every corner. There's free entertainment Thursday - Monday nights and there’s truly something for everyone!
• Show-Me's on the Landing - The tasty menu of great appetizers, burgers and seafood, includes crab legs, shrimp, & oysters. Get your sports fix while being surrounded by 30 (yes, 30!) big screen TVs at Show-Me's. The spacious patio has a spectacular river view. Show-Me's is perfect for food and fun!
• Sun deckers - A St. Louis tradition for over 27 years, this great neighborhood bar offers good food & a fantastic place to hang with good friends on the deck, watching the river roll by. Entertainment includes karaoke, DJs and live entertainment
• The Big Bang Dueling Piano Bar is interactive musical mayhem unleashed! Locals and tourists alike love singing and dancing the night away here, and ALL requests will be honored! Great FUN!

These are only a taste of the many food & entertainment options you'll find in & near Laclede's Landing.

Family Fun & Other Attractions

• Brookdale Farms Carriage Services offers horse-drawn carriage rides around Laclede and downtown St. Louis, and makes a great romantic outing or good fun for the whole family!
• The St. Louis Zoo - Absolutely one of the best zoos in the Midwest – or anywhere! Great exhibits & events for all ages.
• The Gateway Arch Experience offers riverboat and carriage tours, plus amazing attractions and events.

Laclede's Landing has excellent schools and great neighborhoods: It's a wonderful place to call home!

There are many St. Louis attractions, and the St. Louis Art Museum is definitely one of the best ones available. Located in the City of St. Louis,  general admission to the Museum is free every day of the week, and on Fridays, even featured exhibitions are free. And the featured exhibits are always amazing, like the recent showing of Monet's water lilies, timeless and gorgeous. The Art Museum is truly a great cultural gem among St. Louis attractions.

As far as regular displays, you'll find a wide array of eclectic collections such as the Ancient Art Collection; African and African American collections; European Art; Asian Art; American Art; Contemporary Art; Oceanic Art; Islamic Art; Photographic Art; Prints & Drawings and more.

An interactive community member among St. Louis attractions, the Art Museum regularly reaches out to the public by keeping its finger on the pulse of what locals want. Example? On Sunday, October 23rd right on the front lawn at Art hill, the museum broadcast Game 4 of the World Series; viewers simply brought their own blankets, chairs and picnics and enjoyed the game. The live telecast was free, as were pretzels, popcorn and hot chocolate.  At the first decent snowfall in St. Louis, you will find hoards of sledders using everything from tire tubes to old-fashioned tobaggans to plastic garbage bags to sled down Art Hill and hope they can stop at the bottom before running into the hay bales at the bottom that if missing, would put you in the Grand Basin---if it's not frozen!  You can find yourself warming by the bonfires provided by the groundskeepers of Forest Park in between runs and try to get on TV as the local stations all show up for the first run.  Its the orchestration of such amazing community events that distinguishes the St. Louis Art Museum as a standout among St. Louis attractions.

Just a sampling of the special featured exhibitions the museum has hosted in 2011 includes:

• Two works of William Kentridge - his Virtual Musing Prints and two of his films in the new media series
• The works of Ian Monroe
• Engraving in Renaissance Germany
• The Panorama of the Monumental Grandeur of the Mississippi Valley

Though it's known as the custodian of many amazing international cultural treasures, the St. Louis Art museum itself is nothing short of a treasure when it comes to St. Louis attractions. The Museum offers Tours, exciting School Programs for students, and Professional Development Opportunity Programs for educators.

Make sure you visit often. Memberships are available both at the individual private membership and corporate membership levels. Click HERE for more information.

 I've had many calls in the past 2 years from homeowners who have desperately needed to refinance their loans because they took the going rate at the time, or a higher rate due to lack of credit, and now that the rates have dropped to 40-year lows, they are unable to refinance because the value of their house has dropped by 20% in the past 5 years.  Who wouldn't want to save interest monthly when you know you can shave 1-3 points off your loan rate? But, if your $200,000 house has a mortgage of $180,000 and the house is now only worth $180,000, the bank wants to see 20-25% margin between the value of the house and the loan amount.   Therefore, homeowners are strapped with holding onto mortgages with a 6-7% interest rate.  This program will run through 2013.  I hope many people will be able to take advantage of it.  Perhaps that will free up some mortgage money to be spent in other ways and get this economy back on the right track.  This is not a new program or new idea, but it is an updated version of HARP (Homeowners Affordable Refinance Program).

Dave Liniger, President and Founder of RE/MAX International has been instrumental in dealing head on with Congress, Bank of America, Chase, Citi and Wells in working on this housing crisis. 

http://www.remax.com/documents/insider/pr/2011/AdministrationRevampsHousing_10-24-11_Final.pdf

The 203k Rehab Loan Program was designed to give borrowers a single mortgage loan, at a long-term fixed or adjustable rate, to finance both the acquisition and rehabilitation of a property. The mortgage amount is based on the projected value of the property after rehabilitation.

Eligible Properties

1. One-to-four family dwelling that has been completed for at least one year.
2. Demolished or soon-to-be demolished properties that retain some of the existing foundations.
3. Conversion of a one-family dwelling to two or more as well as multi-unit dwellings to one-to-four family units.
4. Mixed-use residential properties that:
   1. Has no greater than 25% (for a one story); 33% (for a three story); and 49% (for a two story) of commercial/storefront floor area.
   2. The commercial use will not affect the health and safety of the occupants of the residential property.
   3. The rehabilitation funds will be used only for residential access and function.
5. Individual units in condominium projects that have been approved by the FHA and meet the following conditions:
   1. Owner/occupants and qualified non-profit borrowers are eligible. Investors are not.
   2. b.  Rehabilitation is limited to only the unit’s interior. Exteriors and other areas that fall under the purview of the condo association are not permitted, except for firewall installation for the unit.
   3. Only the lesser of five units per condo association, or 25% of the total number of units, can be rehabilitated at any one time.
   4. The maximum mortgage amount cannot exceed 100% of after-improved value.
   5. Individual buildings within the condos must not contain more than four units.

How 203k Rehab Loan Program Works

The program can be used to:

1. Purchase a dwelling and the land on which it is located and rehabilitate it.
2. Purchase a dwelling on another site and move it to a new foundation on the mortgaged property and rehabilitate it.
3. Refinance existing liens secured against a property and rehabilitate it.

Eligible Improvements

1. Painting
2. Room Additions
3. Decks

Required Improvements

1. Cost-Effective Energy Conservation Standards that conform to the following:
   1. Addition to an existing structure. New construction must conform to local codes and HUD Minimum Property Standards.
   2. Rehabilitation of an existing structure that improves thermal efficiency in the following ways:
      1. Caulk and sealing all openings, cracks, joints.
      2. Insulate all necessary openings and areas.
      3. Ventilate attic and crawl spaces.
   3. Replacement Systems:
      1. Heating, ventilation, air conditioning system supply and insulated return ducts and pipes.
      2. Heating systems, burners, and air conditioning systems must be no greater than 15% oversized.
2. Smoke Detectors

HUD’s Maximum Mortgage Calculation

1. Refinance:
   1. Based on the lesser of existing debt on the property before rehabilitation, plus the estimated cost of rehabilitation and allowable closing costs.
      OR
   2. Based on the lesser of the As-Is value plus rehabilitation costs or 110% percent of the after-improved value multiplied by the appropriate loan-to-value (LTV) factor.
2. Purchase:
   1. Based on the lesser of the as-is value or the purchase price of the property before rehabilitation, plus the estimated cost of rehabilitation, multiplied by the LTV factor.
      OR
   2. 100% of the after-improved value of the property, multiplied by the LTV factor.

For more information, see Hud.Gov

ART IN THE PARK 

This Sunday, September 25 from 10 until 6 pm, come see why St. Louis Hills is one of the premiere neighborhoods in the City of St. Louis.  Built between 1930's and 1950's with Francis Park at the center, these tudor-style and art-deco homes host 2000+ families.  Art in the Park features local artists, local restaurants like Stellina Pasta and Bartonlino's, not to mention the famous LeGrand's local butcher/caterer and sandwich maker where everyone knows your name!  Every year we've had terrific sunshine and blue skies, warm breezes and this year the fun live music from Hudson and the HooDoo Cats as well as Phoenix.  The artists' booths will run along both sides of the Lily Pond, straight up the middle of Francis Park, the crown jewel of St. Louis Hills.  There will also be a classic car show for all you roadsters.  What a great opportunity to be outdoors in a beautiful park-setting, great food, lots of friendly faces and a chance to shop for early Christmas gifts or a new item for your house or to adorn your body!  I will have a booth near the restaurants and band giving away FREE popcorn and FREE real estate advice.  Have questions about "the market" or your home's value?  I'd love to chat with you.   

It’s a myth that 10 percent down is the minimum to buy a home and it’s wrong to assume there aren’t loans available for remodeling.

I have nearly 1,000 homes for sale that you can buy right now with half the normal down payment or less if you have at least a 600 credit score.

They’re foreclosed properties that I can immediately sell to qualified buyers. After that, you’ll get additional loan funding for remodeling work – with no down payment.

Don’t be fooled. Foreclosed homes aren’t junk listings in bad neighborhoods. The first thing you need to do is call me. Tell me what specifications you want such as square footage and the number of bedrooms and bathrooms. I’ll have a list of good properties for you to consider in great neighborhoods and school districts.

When you find a home that you want, I’ll then connect you to lenders I’ve done business with for years. Rehab-purchase deals up to $281,000 are available through FHA 203k financing while Fannie Mae will process a rehab purchase up to $500,000 – both programs featuring smaller down payments and 100 percent remodeling loan possible.

There’s more - I’ll connect you with a local home remodeling contractor who specializes in rehabbing homes in the FHA and Fannie Mae foreclosure programs.

Foreclosure buys are 15-30 days faster than traditional home sales. For those who buy and remodel, the closing will be a couple of weeks longer.

Be in control. Custom build a foreclosure-remodel home. A bigger house in a better school district should be on your radar screen. And you’ll get the money needed to remodel that you couldn’t get from conventional programs.

Keep up to date every day with news and listings at The Sandie Hea Team Facebook & Twitter pages!

See all our great listings and more at www.sandiesellsstlouis.com

For music lovers in the St. Louis area, Lou Fest Music Festival is the place for you. With 18 bands on two stages, this Indie music festival will provide two full days of entertainment at beautiful Forest Park on August 27^th and 28^th.

The exciting lineup for this year is as follows:

• The Roots
• TV on the Radio
• Cat Power
• Deerhunter
• !!!
• The Hold Steady
• Surfer Blood
• Dom
• Das Racist
• The Low Anthem
• Kings Go Forth
• Lost in the Trees
• Ume
• Sleepy Sun
• Troubadour Dali
• Jumbling Towers
• Old Lights
• John Hardy & The Public

Because this is an all-ages event, there is also a space just for kids called Area K. Not only are there arts and crafts for children (such as designing Mad Hatter hats with staff from the Magic House, the St. Louis Children’s Museum), but it also has its own stage with a unique lineup. For more information on what is available in Area K along with the stage schedule, click here.

Lou Fest is also interested in making this a “green” event. They are encouraging public transportation, offsetting the amount of electricity used to power the concerts, requiring vendors to use compost and recycling bins, and even valet bike parking! To find out more about the “greening” of Lou Fest and the various green vendors they have, click here.

For more information about Lou Fest performers and admission prices, click here.