Best Articles File Cabinet
A collection of a few of my best and most read articles,tips and information for buyers,sellers, & investors.
Best Articles & Tip Files For Home Owners and Future Home Owners & Sellers
Articles on home improvement, finances, mortgages, selling your home, staging your home, investment tips
and much more.
Alternatives To Selling Your Home In A Buyers Market
Homeowners don't need to be told that this is not the best time in
most places to get the best price for their property. Sometimes selling
is not an option it's a must and if that is the case then you do what
you have to do but for those who might benefit from some creative
solutions here is something that might be of interest and of help in
bringing in extra cash or allow you to stay in the home you love but
don't need as much home or make it possible to get back on track if
you've fallen on hard times and have a problem meeting your
obligations. 
A new trend is renting out space in your home, your attic, a spare
bedroom, garage,
storage building, or any other space you can do
without. Who would be interested in renting this type of space? There
are a variety of situations that someone might be in the market for
renting space like this. A spare room might bring in a nice $150 a
month.
You can advertise online at www.sparefoot.com or www.storeatmyhouse.com there are a number of ways to
advertise your space. Be cautious as with any other advertisement that
would bring someone to your home it is better to be too cautious than
not cautious enough. You need to make sure you know what is going to be
stored and references for whomever is going to do the storing.
If boxes and closed containers are involved you have a right to
inspect the contents before you allow them to be kept on your property
but with some common sense safeguards you might find that it is a good
solution for some of your challenges.
Sally Morris at Greenwood Realty in Greenwood SC offers buyers and
sellers expert and friendly down to earth real estate solutions.
Money Money Money That's Times Three
A new way to save, geared toward low income wage earners who are
already saving but need an extra boost. 
Money from voluntary donors, government funds,
and non-profits match their savings. The wage earner saves $25.00 a
volunteer adds $25.00 to their fund in a secure tax-deductible savings
account matched by $25.00 from the government and participating
non-profits. That's savings times three. Pre-screened savers have a
profile on the website set up to facilitate this www.savetogether.org
where donors can view profiles and goals of individuals wanting to
save for their children's college,bu a home, start a new business or
other goals. It is an non-profit organization. It may be a great way to
help people on the bottom of the heap get a step up. I think it's worth
checking into. Set to go local very soon.
What IRS Wants You To Know About Mortgage Debt
Forgiveness
Normally Debt F
orgivness will result in taxable income but
under the Mortgage Debt Relief Act of 2007 you may be able to exclude
some of the principle of your primary residence. The limit for a married
person filing separately is $1 million
You may also exclude debt reduced through mortgage restructuring and
mortgage debt forgiven in a foreclosure.
There is some criteria that has to met to qualify.
The debt has to have been used to buy, build, or substantially
improve your primary residence and had to have been secured by that same
residence. This also includes refinanced debt.
It does not include debt that was borrowed to pay off credit cards or
some other like purpose.
Use IRS Form 982, Reduction Of Tax Attributes Due To Discharge of
Indebtedness to claim the exclusion and file it with your regular
federal tax income tax return in the year that the debt was forgiven.
You can not claim debt on a second home, rental property, business
property, credit cards, or car loans. There may other tax relief
provisions such as insolvency that may be applicable on this same IRS
Form 982.
Normally if your debt was reduced or eliminated you will receive a
year end statement it would be the 1009 -C Cancellation Of Debt from
your lender. By law this form must show the amount of debt forgiven and
the fair market value of the property foreclosed on. Be sure and examine
the 1099-C carefully and notify the immediately if the information
provided is not correct. You should pay careful attention to the amount
of the debt forgiven as well as the fair market value shown. More
information is available at www.irs.gov
or by calling 800-829-3676
Twelve Deadly Mistakes Real Estate Investors Make
Mistake # 1. Spending thousands of dollars buying books, tapes and attending seminars and then putting all of that information on a bookshelf and never looking at (or using) it. Comment: I'm continually amazed at the number of "would be" investors who have spent a bundle of money attending seminars, getting an education and then never using it to start their investment program. Not only is it a waste of thousand of dollars but it could be the biggest financial mistake you can make.
Mistake # 2. Failure to learn the basics of real estate investing. Comment: The other extreme to Number 1 above, are potential investors who realize real estate is the best way to accumulate wealth and venture into the purchase of properties without knowing the basics of real estate investing. Those investors are almost certain to get into financial trouble.
Mistake # 3. Fear of making a huge financial mistake Comment: We all fear making mistakes, especially a large financial one. If you follow the advice in Number 2 above, you won't have to worry about making a financial mistake.
Mistake # 4. Not looking at enough properties Comment: Don't fall in love with the first property you look at. Too many investors buy properties because they "look nice" or they are just to lazy to see what else is currently on the market that may be better. Part of sound real estate investing is in giving yourself a choice so you can select the best one, financially.
Mistake # 5. "A better deal may be just around the corner" syndrome Comment: This is the opposite mistake of Number 4. This investor never starts his or her real estate investment program because they always hope a better deal may be out there somewhere if they just wait...and wait...and wait.
Mistake # 6. Thinking that real estate investing is strictly a complicated game that only the wealthy can play. Comment: First of all real estate is NOT complicated if you learn how to do it first. Did you know that even professional investors use a simple nine step process to analyze the financial feasibility of an investment property?
Here's a brief idea of the nine simple steps they use in analyzing any type or size investment property. A Basic Financial Property Analysis
1. Scheduled Gross Income (Income if 100% leased)
2. Less: Allowance for vacancies
3. Operating Income before expense & Mtg. Pmts.
4. Less Operating Expenses (Taxes, insurance, utilities, repairs and maintenance etc.)
5. Equals: Operating Income (Income before Mtg. Pmts.)
6. Minus: Mortgage Payments
7. Equals Cash Flow
8. Plus: Mortgage Principle Payment
9. Total Return
There's a lot more to it than that, but you just read the basic nine step procedure most professional investors use when analyzing any income producing investment property.
Mistake # 7. Falling in love with a property. Comment: Once you get your feet wet and become a real estate investor, you'll wonder why you waited so long to begin. Now you'll face another problem. Many investors fall in love with their property. They have seen how well it is doing, cash flow has been going up each year, and they have fallen in love with their tenants (not literally). Two big mistakes are made here. First, never fool yourself into thinking your property is doing too well to sell or trade up because your cash flow is considerably higher than when you purchased the property. 
The second part of mistake number 7 is getting so friendly with your tenants that you fail to maintain rental standards based on what the market will bear. This greatly hinders your growth potential.
Mistake # 8. Failure to plan your financial goals Comment: Before you purchase that first property, which, of course, you financially analyzed, determine what you expect from your investments...your financial goals. It's known as "The 'time vs. money'" concept. The more you have of one the less you need of the other in order to reach your financial goals.
Mistake # 9. Trying to purchase properties that the seller is not motivated to sell Comment: I've seen potential buyers continually try to purchase investment properties that are not really on the market. This includes property owners with the attitude that "Sure, it's for sale... for a price". Unfortunately the 'for a price' part usually means it will make no financial sense for a buyer.
Mistake # 10. Believing you can get rich quick overnight with no money invested of your own. Comment:. Getting rich overnight will not happen . . . (regardless of what some of the so called "experts" tell you). It takes some time, effort and knowledge of real estate investing to do it with minimum financial risk. The important thing to remember is that YOU can do it, too. You can join the millions of investors who create sizable incomes by investing in real estate.
Mistake # 11. No money down investing usually isn't. Comment: Somewhere, somehow there will be some money required to put a transaction together and make it profitable. It may be closing costs, repairs or upgrading, whatever. But somewhere, some money will be needed. There are ways around this problem without getting into a high risk situation. You may be able to finance every dollar you need, but it can come back to haunt you in the form of mortgage payments you cannot afford to make. Again, learn what you are doing first.
Mistake # 12. Not financially analyzing a potential investment property. Comment: This is the most serious mistake an investor, or potential investor, can make. I've seen a few pros in the business rely on a "worthless and inaccurate" rule of thumb to make a huge financial decision to purchase, with total disregard for how well the property will perform. 
Oh, yes, there is one more major mistake many investor make: Mistake # 13. Thinking it's important to pay off your mortgage as soon as you can because mortgages are a 'necessary evil'.
Comment: First of all as a real estate investor, mortgages are good and not a necessary evil. You must learn why this is true. You must learn how, in the right situation, a second or third mortgage can be a good thing. Second: mortgages are one of the keys to creating wealth in real estate. You must learn how to use financing as one of the keys to creating your own financial estate, without concern for it being "risky".
Milt Tanzer is a recognized authority on real estate investing, author of 7 books on the subject. Investment real estate broker for 25+ years. He holds an advanced degree in investment real estate from the National Ass'n. of Realtors.
In Greenwood SC Sally Morris is the Realtor to call on for properties that have good potential for investment. Search for homes, land, lake properties, condos, and ask for a custom search for property suitable for investment.
The Principal Function Of A Home Foundation
I thought many of you buyers, sellers, and homeowners might find this article valuable information so I'm going to publish it.
Foundation Repair BY KEN MARLBOROUGH The principal function of a foundation of a home is to transfer the weight of a structure to its underlying soil and rocks. 
One of the factors that bring about the need for foundation repairs is improper foundation settling. Foundation settlement can devalue structures and also render them unsafe. Building on expansive clay, compressive or improperly contracted fill soils and improper maintenance in and around foundations are some of the major reasons of improper foundation settling. Another reason for improper foundation settlement is undetected or unsuspected air pockets in the ground below the area of construction. These may cave in and cause the integrity of the foundation to be compromised.
General symptoms of a structure needing foundation repairs are bulging or cracked walls and doors that don't close properly. Building on expansive soils is the main culprit for foundation settlement. When only one part of the foundation either settles or heaves, cracks are formed in the foundation. The exterior warning signs of improper floor settling are rotation of walls, displaced moldings, cracked bricks and foundation and separation around doors and windows from the walls. Interior warning signs of improper floor settling are cracks on the floor, sheet rock and misalignment in doors and windows.
There are many ways of doing foundation repair. Cement, stone, steel or wood were used extensively in past techniques. They would be forced into the ground in a bid to salvage the strength of these foundations. However, this type of repair work has been known to be futile. Two of the most successful ways of foundation repairs are slab jacking and the Piering method. Piering is also known as hydraulic jacking.
Slab jacking is the process of adding grout beneath a slab or beam. This produces a lifting force and restores the said beam or slab to almost its original elevation and adds to its strength. Care should be taken that the amount of sand should be perfect while adding grout.
During Piering, steel posts are driven through unstable soil. Hydraulic jacks are used to stabilize concrete slabs which are weakened due to the changes taking place in the underlying soil. Steel beams are used in the Piering method because concrete has great compressive strength. Though Piers are able to transfer huge downward loads without the help of reinforcing steel, steel is used in the piers for prevention of the pier from being pulled apart or sheared by forces of the expansive soils. The repairs normally take 21 to 30 days, however this time frame can vary depending on soil conditions and weather delays.
Concrete Foundation Repair provides detailed information on Foundation Repair, Concrete Foundation Repair, Foundation Repair Costs, Foundation Leak Repair and more. Concrete Foundation Repair is affiliated with Fine Home Buildings.
In an on going effort to educate buyers and sellers on all aspects of real estate.This article and others like it are brought to you by Sally Morris For all your real estate needs in and around Greenwood SC it's Sally Morris in Greenwood
Sally in Greenwood The real estate expert in and around Greenwood SC with particular expertise in Lake Greenwood property sales.
Lake View Best Deals On Lake Greenwood in South Carolina
Spectacular Lake Views Are Very Affordable
Do you yearn to have home on a lake but you budget just won't strrrreeettttccchhh far enough for that luxury?
Do you have some extra cash on hand and want to invest but don't have enough of a nest egg for lake front? You can have your lake home and there are some great deals on Lake Greenwood especially if you look at options other than lake front. It is not a buyers market on the lake for lake front buyers, although the lake front properties are far more attractively priced than other lakes around Greenwood SC. The real deals are lake view properties or lake community not necessarily lake view. You still get the benefit of enjoying the amenities that gated Lake Greenwood communities offer such as boat slips, boat launches, security, locked storage, and some have golf, tennis, club houses, fitness facilites, pools, and restaurants, and horse facilites. Crystal Bay Eagles Harbour Summerset Bay Terrapin Pointe Pucketts Ferry & Harbourside are a few where the best deals can be found. Grand Harbour's Patriots Plantation for horse lovers & lake enthusiasts. Interior lots and lake view lots start at prices under $35,000 for a 1/2 to 1 acre lot. These lots will make beautiful home sites, a variety of elevations and some perched on a rise will afford some spectacular views of the lake. Pick from the cream now while you can. I urge you to contact me and let me show you the many possibilites avaialble to you on Lake Greenwood
If you wait until all the lake front are gone then the prices for these jewels will not be as they are now. You don't get the deal when it is the only option. Supply and demand you know. Contact me today and I'll send you properties that will fit your budget and your desire for lake living. The supplies are plentiful and the prices are right.
Investors take notice the lake front lots are almost sold out but lake view lake interior are plentiful. When all the lake front oare gone people will be buying interior lots. Contact me and let me show you some excellent properties to invest in for future profits.
Sally Morris in Greenwood SC
The Expert on Lake Greenwood, Selling or buying Sally Morris is the Realtor to call
Dear Homeowner You Know When You're In Trouble With Your
Mortgage sooner than anyone else. Contacting your lender before
it gets out of hand can get you back on track in many cases, there are
usually remedies for short term difficulty, they don't want your home
back. On the other hand if you know that your circumstances have changed
long term and that there is no short remedy that is going to allow you
to make the payments then hanging on to the last minute and having the
lender take action is not smart. Coming to grips with the situation you
are in and making a decision to change your lifestyle to fit your
present situation is pro-active.
You can make the
decision can lift the burden off so you can regroup and move forward in
peace. Make the decision swiftly, interview Realtors, pick the best one
for your area and put your home on the market and get it sold!
Making plans for your next move will be based on your bottom line, it
may be that you will need to rent or maybe move in with a relative for
awhile, whatever will work for you until your situation changes. Time
changes everything and in time, with wise choices you can get back on
track. Remember the decision you make to regroup instead of waiting for
the ax to fall will make the difference as to how long it will take to
get back on track, and possibly saving your credit. Taking the burden
off will allow you to think more clearly and you will be able to take
charge of your life and move forward unencumbered.
The hardest decision to make is the decision to make the change
needed, once you have made up your mind to do what it takes, the rest
will fall into place. There is no substitute for peace of mind and
taking control of your destiny rather than letting destiny take control
of you is priceless.
No one wants to have to go backward but sometimes backward is the
only direction you can go in order to go forward. Remember this is not a
forever situation it is a now situation and you can make the journey
easier with the right frame of mind.
Use Curb Appeal Magnetism To Sell Your House Faster
Real Estate Tips Brought To You By Sally Morris
Which houses in your neighborhood sold the fastest? Most likely, it was the house with the great curb appeal.
It is an illusive quality, this magnetic attraction that us humans have to certain houses. If you are trying to sell (especially in a slow market), you need some of this magnetism. So, how can you get some for your house?
A few basic ideas are below. Most people want to buy a house that they can be proud of. They want their friends and family to praise their good taste. The fastest way to sell anything is to give people what they want. So, if buyers want curb appeal, here's where you start.
One of the easiest things is basic yard clean-up. Mow the lawn, rake the leaves and pull the weeds. In general, make everything neat. Then look at your mature plants from a fresh point of view. Do they block the view of the house from the street? Have they outgrown their space? Is the shape really right for their location? With this new point of view, give the front yard bushes crisp, clean lines. Cut back plants that have expanded beyond their allocated area. But be careful not to trim back so much that they are woody instead of green. If there are any tree limbs that get close to the building, cut them back. A clearance of 18" or so is adequate.
Repaint your front door an outstanding color. That doesn't necessarily mean a bright color. My favorite colors are light in tone. A front door that is white shows up from the street better that a dark one. If your door is a wood finish, make sure that it is not cracking or peeling. Re-finish if need be.
If you have one of the black wrought iron security doors and you live in a low crime neighborhood, consider removing it. Fill the screw holes and repaint the trim.
Security doors cause buyers to questions the safety of the area. You want them in love with your house, not afraid.
New house numbers can make a big impact. In a metal that matches other exterior details, they act like jewelry on the front of the house. Just make sure that you install them straight.
Add simple white blinds/shades to the windows in the front of the house. This gives the house continuity. You have all seen the house with different brightly colored blinds in each window. It might work with the interiors but it creates a mish-mash from the street.
Now that we have the exterior neat and fresh, look to see if it is boring. If you can't tell, ask a friend or neighbor for their honest opinion. You may need to do one simple thing or a combo of things to give the house pizzazz. While there are many, many projects that will provide that sparkle, most folks don't know what to do first. In a slow market, a house without sparkle will not attract the attention it needs to sell.
Curb appeal creates that volume of interest.
When have you done enough? How do you know the house has curb appeal? Go outside and look at your house from the street. If you say to yourself "It looks so good, do we really want to sell?". Then you have curb appeal.
Sally Morris Selling Your Real Estate
How Your Job Affects Your Ability To Get A Mortgage
Unless you are one of the fortunate few, you are going to need financing to buy a home.
One of the things that is looked at closely by lenders is your employment. When you are ready to buy your first home or move up to a bigger, better property, you need to consider your financing options. While many things go into finding the best loan, most people are first concerned about actually being approved for a loan. One of the factors that is critical when an underwriter analyzes your loan application is your employment status. Mortgages are all about risk in the eyes of a lender. Your employment status is a huge factor in evaluating that risk.
When we talk about employment, we are going to focus on the three most common categories.
The first is the salaried employee who receives the same earnings each
month. 
The second is the self-employed person who owns their own business and has fluctuating revenues.
The third is the commissioned person, a salesperson, who also receives fluctuating revenues based on their production each month.
Salaried employees are the simplest for lenders to evaluate. The annual earnings of this person are a set figure. Lenders are very comfortable with this designation because they can accurately predict the money you have coming in relation to debts and so on. In general, lenders are looking for stability in employment with a two-year history. If you have changed your job, make sure to explain why and try to stay in the same general profession.
Self-employed individuals are in a bit more of a bind when it comes to mortgages. If you are in this designation, you tend to show a range of earnings versus a steady amount each month. Moreover, you also tend deduct just about everything you can to limit taxes. This can cause problems when you apply for a loan because your reported income is low. If you are self-employed, lenders are going to want to see tax returns, bank account statements and other financial documents for the last two years. If at all possible, do not switch your business effort to a new line of work during this two-year period as the lender will consider it a brand new business and raise its risk assessment.
Commissioned employees are more and more common these days as corporate culture changes. If you fall in this designation, the good news is lenders are much more comfortable with commission earnings these days. As with self-employed individuals, however, it is important that you do not change your job in the two years prior to applying for the loan. Lenders will view such a change negatively, because they will consider your new position independently from the old one. This makes you a riskier proposition in their eyes.
If you are planning on buying a home in the next few years, stability is very important. While there are exceptions to every rule, your best course of action is to stay the course with employment before apply for a loan. You can always make changes after being approved.
Important Things To Know Before Buying A Home
Are you going through all those anxiety pangs that one normally gets while mulling over the decision of buying a home? Homebuyers are an anxious lot, eager for useful real estate information. It pays to get yourself acquainted with the steps involved in the purchase of a home.
Here’s a list of important things to know before buying a home.
1. The first step is to find out how much you can afford or qualify for.
Check your credit report to know your credit worthiness. Clear up problems if any before going to a lender. A good credit rating will result in you receiving lower interest rates.
2. Get pre-approved for a mortgage from a mortgage broker or lender, with a commitment to fund your mortgage in writing.Look out for frequent payment options and prepayment options, which would help knock off some years from your mortgage. And finally, settle for comfortable monthly payments. Once pre-approved for a loan, you will know your price range to begin shopping for real estate.3. You should buy the real estate that is right for you. Make a wish list of all the specifications you want in your home. Prioritize them based on your wants and needs. Then mark out those aspects that you are willing to compromise on, in case you need to.
4. Get a good, reputable Real Estate Agent to assist you in locating a property in a desirable location.Your Real Estate Agent will know where to help you look for properties, while keeping your preferences and price range in mind.
5. Once your agent provides you with a list of properties that are affordable, you can drive by to check the neighborhood. Look for a house in a location that has good potential for future appreciation. Consider factors like safety, school districts, freeway access, recreational options, work commute time, shopping facilities etc.
6. Check out a sufficient amount of real estate until you develop a sense of comparative value of each neighborhood.Your real estate agent can help you with the valuation.Visiting the localities at different points in time during the day is ideal. This will help narrow down the list. You might want to check during the morning commute, or after dark to verify that the neighborhood suits you.
7. When you have found a house of your choice, compare its price with other houses in the area.
Get your real estate agent to assess the value of the home.If all looks good, write an offer!
8. Lastly, consult your real estate agent to be sure that you obtain any professional inspections necessary to answer any questions you may have about the property.Some concerns may include: the condition of the roof, foundation, walls, plumbing, electrical, windows, etc.
Other concerns may be: Is the property in a flood zone, or wildfire area. Are there any easements on the property, etc.Your professional Real Estate Agent will assist you in answering these and other questions you may have prior to closing escrow on a property.
Uncluttering Your Garage
Are you completely frustrated with your garage? Does your car sit in the driveway because there is no room for it because of all the clutter? Garage storage systems are the answer to your organizational nightmare.
Your first step in solving this problem is to remove everything from your garage, preferably on a nice day. Put all that clutter in the backyard or the driveway. If you are lucky, people might think you are having a yard sale and start offering you money for some of your junk! Once the garage is empty, you can give it a good cleaning including a power washer for the floor. After that job is complete, you can begin installing the garage storage systems. Any items that you do not have a use for are either donated to charity, thrown in the garbage or sold at a yard sale. 
Garage storage systems can come in many different forms. One such form is an extruded PVC slat wall panels. These panels are extremely strong and are easy to install. They are also easy to clean and they come in six different colors at this time, thus, there is no need to paint. Other storage accessories include overhead racks and storage systems that allow items to hang from your garage ceiling and are thus kept out of the way. Practically anything that sits in your garage can be hung up out of the way.
Garage storage systems are a cost effective way to clean up your garage. You may find that you have more space than you originally thought. The storage areas can be divided into compartments in several different areas such as overhead storage, sports equipment section, holiday supplies and workshop or tools area. Other designated sections could include firewood, vehicle supplies, lawn and garden supplies, pet supplies and garbage and recycling areas. Some people may have more or less areas needed for organizing their
garage items. 
Wall cabinets are great garage storage systems as well. They are good for storing smaller items. However, many people find that the overhead racks storage is best for keeping a neat and tidy garage. Use storage bins with a label of everything that is inside the bin. This helps in locating items later on. If you would prefer another option to storing things in your garage then there is always a pulley system. It allows for the storage of larger items such as a canoe, kayak, truck topper or even a wheelbarrow much easier. Another option that is to use hooks. These are placed on a sidewall and are excellent for hanging bicycles, garden tools and other items.
Garage storage systems are the perfect way for a cluttered garage to regain its original use, that of storing your car. Take a run out to your local home center or do some research on the internet to give you an idea as to what is available in this area of home storage. Whether you choose an overhead system or a wall mounted system, you will be glad you did.
Author Resource:-> Our site provides information on garage storage systems PODs storage, bedroom closet organizers, wardrobe closets and various other types of closet designs and storage systems. Let us provide all your storage information. http://www.podstorageinfo.com
By Tom Hauser
A New Way The Old Way To Get From Point A To Point
B Have you had it with the airlines? Are you sick and tired of high
prices, add on fees, lost luggage, long lines, and delayed or canceled
flights? We love a good come back story and here's a good one for you.
Hit the road again, take the scenic route enjoy the view and get from
point A to point B cheap and enjoy the view while you're getting there.
I'm talking high tech traveling with amenities like Internet service,
cell phone service, power outlets, video entertainment, reclining
leather seats with foot rests(?)!, snacks and beverages. I'm talking, go
back in time to the days of the Greyhound. The re-emergence of
traveling by bus is the alternative to taking road trips travel up to
500 miles on a dime well actually some promotional fares as cheap as
$1.50 avg fare from let's say New York to Boston for $42 as opposed to
$225 by air or L A to Phoenix for $39.95 or you could go by air $139
how about St. Louis to Chicago for $28.50 or you could take to the skies
for $158. Taking the long way around may not be practical for every
time you travel but it sure is something to consider when you're not in a
hurry or maybe you can plan a vacation around a road trip and leave the
driving to them! Take the scenic route. Interested get more ways to
travel cheap in luxury www.Greyhound.com www.PeterPanBus.com or
www.GoToBus.com
On the road again.....
can't wait to get on the road a
gain,making music with my friends,
I can't wait to get on the road again ............