Staging Your Home-Leaky Faucets

Most faucet leaks can easily be fixed with a rubber washer, an O-ring or seals depending on what type of faucet it is.  By fixing the problem yourself, you can save a good bit of money since plumbers can be expensive and will charge you a standard fee even if it takes only 10 minutes to fix the problem.



Linda Shank Broker Owner Linda Shank and Company is a 32 year real estate veteran in Phoenix's Southeast Valley.  Contact her at www.ISellAZSunshine.com

FHA Requires Buyer and Seller Signatures to be Live---Not Computerized

In the age of technology, even a signature on a document can be added by a computer program.  HOWEVER, FHA along with many of the large investors requires that the signatures of both buyers and sellers on all initial and final documents such as the contract and final settlement statement be "LIVE" or "WET".  Please keep this requirement in mind, especially when you are dealing with corporate sellers in the case of REO properties.  If you know ahead of time that a live signature is needed, it can help prevent delays to the closing process.

 Information courtesy of Sherri Buttler, Sun American Mortgage, 480-467-1088, Mesa Arizona.

Do I have to Sell my Home to Qualifty for the Homebuyer Tax Credit

Here's a question that keeps popping up:

I'm already a homeowner.  If I buy another home ofter Nov. 6, 2009 to use as my principal residence, do I have to sell my home to qualify for the home buyer tax credit?

Answer:

No.  If you meet all of the requirements for the credit, the law does not require you to sell or otherwise dispose of your current principal residence to qualify for a credit up to $6,500 when you buy a replacement home to use as your principal residence.  The requirements are that you must buy, or enter into a binding contract to buy, the replacement principal residence after Nov. 6, 2009 and on or before April 30, 2010 and close on the home by June 30, 2010.  Additionally, you must have lived in the same principal residence for any five-consecutive-year period during the eight-year period that ended on the date the replacement home is purchased.  For example, if you bought a home on November 30, 2009, the eight-year period would run from December 1, 2001 through November 30, 2009.



Information courtesy of Jay Starks, Bell America Mortgage, www.jaystarks.com