Chris' Personal Blog

A Busy Year

2011-12-21T22:09:00.000-08:00

A Busy Year

2011 turned out to be quite a year! The funding troubles at The Pennsville Public Library took a huge chunk of my time. Navigating through the still-troubled Real Estate market was a prime concern, too.

I was fortunate to be asked to join The Salem County Chamber of Commerce early in 2011 as a Board member. Fortunate? Well, better described as honored. What a terrific group of business people! I really cannot think of a better group to be associated with......I'm looking forward to learning a lot from these folks.

Of course, adding some things to a busy schedule demands the subtraction of other things. With a heavy heart, I resigned from the Salem County Workforce Investment Board. This was also an honor to be a part of but after careful consideration, I had to admit to myself that it was a nonworking board appointment.

You may ask, "What does that mean?" Well, it means that I attended quarterly board meetings, but I felt that I did not contribute anything to anyone. I felt that it was an appointment that allowed me to say that I was on the county Workforce Investment Board, but I did not contribute in any-way-shape-or-form. One thing about me is that I like to feel like my time is well-spent and I am doing something constructive.

The sweetest thing of all this year was 'Billy The Kid' needing a home. With the passing of Rhondo in January, the house was quiet and empty. Billy needed us.....and we needed him. Perfect together.

Lastly, to wrap up 2011 -- it was a bit of a battle on the health-front, but I'm happy to announce that I'm once again feeling strong and good.

And at the end of the day, isn't that the most important thing of all? I know it's a cliche, but it is oh-so-true.......

"Without your health, you have nothing."

Here's to your good health and abundance in 2012!

2011-05-08T18:46:00.000-07:00

I've been a mother for 26 years now. Looking back over all of these years, thinking about all of the Mother's Days, I think the first one was the most memorable. I can clearly remember going to church with my four-month old baby......what an effort to get up, get showered and dressed, feed my daughter, get to the church on time, etc.

As I trudged up the stairs, baby on hip, diaper bag on my shoulder, pocketbook on the opposite shoulder, bangs hanging a bit in my eyes.....

One of the church members, with a huge smile on her face, handed me a pink carnation....a pink carnation for Moms.

I will never forget that moment.

That carnation.

My first Mother's Day.

"Say What You Do and Do What You Say"

2011-04-08T22:16:00.000-07:00

"Say What You Do and Do What You Say"

I heard these words many years ago during a workshop on communication. It sounded simple enough, but the reality is that while it is a very simple statement, it is not so simple to follow through to completion.

"Say What You Do and Do What You Say" is your word....your bond....your promise, to not only those around you, but to yourself.

If you say you're going to call.....then you call.

If you say you're going to stop by.....then you stop by.

If you say you're going to help out......then you help out.

If you say you're going to check in on a friend.....then you check in on your friend.

Not doing so breaks the trust, creates doubt, confusion......and finally, hurt.

"Say What You Do and Do What You Say"

Can it really be that simple?

If You Want Something Done, Ask A Busy Person

2010-06-26T14:48:00.000-07:00

I'm excited about Real Estate again even though it's been a tough patch lately.

Really tough.

The market is picking up a bit. Not enough to inspire me to do a backflip, but enough to realize we are heading in the right direction. That is, as far as units go.

As far as purchase prices?

Still trending down. (Sorry to say it, but it's true)

So, you may be wondering what could I possibly be excited about?

New opportunities. Lessons learned. New habits. Interesting events. Interesting people.

Beginning in July, I'll be a contributing member for the new Cumberland County Woman's webpage. I'm very pleased to join Esther Lankitus on her project.

Very pleased.

I'll be writing a brief article each month for her new website.

I hope you'll check it out! I'll let you know when it launches

So Who Owns This House Anyway????

2010-02-22T10:10:00.000-08:00

I received a call from a gentleman in North Jersey. I seem to be doing a lot of business with North Jersey folks lately. Anyway, he was in the process of foreclosing on a small house in Salem City. He reported that he didn't have the papers back from the court just yet but should have them any day.

He asked me to head on over to the property and let him know what it is worth. That's a tricky question now-a-days. It's harder now than ever to estimate the value of properties. I mean, who REALLY knows what is happening in this Real Estate market?

Let me just say, "The house is a MESS!" Stuff all over.....all kinds of stuff. I dragged a dear friend with me that day and to tell you the truth I was a little bit embarrassed about 'my new listing'. Oh well, as one of my investors used to say, "There's a house for every butt and a butt for every house." (OK, he didn't quite say it like that. That is the 'G' version of his saying)

The client was extrememly anxious for me to complete my work and get the property on the active market. He was more anxious than most. By the end of the week, it was up and running.

Last week, a Realtor from Gloucestor County drove all the way down to Salem to show this poor, little house. Once he was there, he called me to obtain the lockbox combination. There's only one problem with that.....I never put a lockbox on this particular house.

Now, there's a mystery! Who is running around the city of Salem placing lockboxes on distressed houses? Not anyone that I know.

Banks will do this though. Banks actually do this quite often.

My client doesn't know who did it. His lawyer doesn't know who did it. They both want me to cut off the lock.

Me? I want to know who really owns the property. I'd like to see the papers from the court.

I'm not touching that lockbox.

Only 143.5 Hours To Go......

2010-02-12T17:27:00.000-08:00

Today was the beginning of a beautiful thing. Today an intern, from Rowan University, reported to my office for 150 hours of learning and service to my company. When I met Kenan last week, I was a little bit worried about this arrangement.

"How in the world am I going to keep this young man interested and busy for 150 hours?"

After today, I realize there are nooooooo problems! I have a list of projects for him to help with that could potentially last for 300 hours! Pity he will only be with me until April 30th.

We began, ordinarily enough, with a tour of the office and a quick review of the websites that are most helpful to our Real Estate community, both agents and consumers. Kenan participated in an online class on the current governmental tax refunds for both first-time home buyers and move-up buyers. I thought this was a good topic for a finance major to understand.

Next it was time for lunch. Interns may tell you that they are not hungry and will eat when they go home, but don't believe it.....they like to eat!

The fun really began when it was time for Kenan to take an online personality assessment. If you're not familiar with the D - I - S- C assessment, you owe it to yourself to check it out. I use a company called TTI Success Insights. After a brief assessment, TTI generates a 23-page in-depth report on the individual that provides strengths, weaknesses, ideal work environments, natural style of interactions/adapted style of interactions, stressors, etc.

In other words, after an employee takes the assessment, I have a very good idea of how to manage that employee to their betterment. Conversely, they have a good idea of how I function as a manager after they read my assessment. In other words, I found out that Kenan likes an organized work space and he found out that my desk is often overflowing with PAPERS......uh oh.......

It's interesting, it's fun and it's oh-so-helpful!

We wrapped up the day by mapping out some important events for 2010. I now have an extra set of hands to help me with several meaningful projects.......and Kenan will, hopefully, get a taste of small business in Salem County, NJ and what it takes to be an entrepenuer in today's economic climate.

I'll keep you posted, Folks.

Now, if I could only talk him into allowing me to take his picture for you all to see.

Better To Stay Home & Make Snow Angels

2010-02-10T21:32:00.000-08:00

The best advice for driving in bad winter weather is not to drive at all, if you can avoid it.

*Don't go out until the snow plows and sanding trucks have had a chance to do their work, and allow yourself extra time to reach your destination.

*If you must drive in snowy conditions, make sure your car is prepared and that you know how to handle road conditions.

*It's helpful to practice winter driving techniques in a snowy, open parking lot, so you're familiar with how your car handles. (Fess up, how many of you used to do donuts in the high school parking lot on snow days?)

Driving safely on icy roads

*Decrease your speed and leave yourself plenty of room to stop. You should allow at least three times more space than usual between you and the car in front of you.
Brake gently to avoid skidding. If your wheels start to lock up, ease off the brakes.

Be safe out there, Folks.....but remember to have fun, too!

For more info, go to: http://www.weather.com/activities/driving/drivingsafety/drivingsafetytips/snow.html

Sources: National Safety Council, New York State Department of Motor Vehicles, Washington State Government Information & Services

I made myself a snowball...

2010-02-06T16:17:00.000-08:00

I made myself a snowball
As perfect as can be
I thought I'd keep it as a pet
And let it sleep with me

I made it some pajamas
And a pillow for its head
Then last night it ran away
But first it wet my bed
~Anonymous

Stay safe and warm out there, Folks!

I wonder how Phil feels about all of this?

2010-02-02T19:55:00.000-08:00

Yesterday was 'Groundhog Day'. Apparently, we're going to get another 6 weeks of winter since Punxsutawney Phil saw his shadow. Come to think of it, it seems that we always get another 6 weeks of winter 'cause Phil sees his shadow.

Here's some interesting info about Phil:

He's a resident of Punxsutawney, PA. He is celebrated each Feb. 2nd with festivities that include music & food. During the ceremony, which begins well before the winter sunrise, Phil emerges from his temporary home on Gobbler's Knob, located in a rural area about 2 miles east of town. During the rest of the year, Phil lives in the town library with his wife Phyllis. A small group, known at the Inner Circle, takes care of Phil year round and also plans the annual ceremony. Members of the Inner Circle are recognizable by their top hats and tuxedos.

Did you know?

Phil and the town of Punxsutawney were portrayed in the movie 'Groundhog Day', although the scenes were actually filmed in Woodstock, IL. Phil was also the main attraction on an episode of the MTV series Viva La Bam. In 2010, a new text service was started to announce Phil's predictions. Mobile phone users could text the word "Groundhog" to the number 247365.

And finally, out of the 114 predictions on record so far, Phil has predicted an early Spring 14 times (12%). Since 1887, Phil's predictions have been correct just 39% of the time.

Thanks, Phil! Have a good rest....until next year, that is!

I've Got A 'Gig' Tonight

2010-01-31T17:10:00.000-08:00

On Monday February 1st, "The Real Estate Corner" returns to the airwaves - this time in Vineland, NJ. This time on FM! If you tune in to FM 92.1 (www.wvlt.com) you'll hear Chris Hooks and Joe Pino take another stab at broadcasting, along with their old friend Jonathan P. Casey.

The last time this trio was together it was over at the now pared-down WSNJAM in Millville, NJ (www.wsnjam.com). Joe and Chris hosted, "The Real Estate Corner" for more than 4 years over there. The reviews were good, the information was timely.....the jokes were bad - ok, sometimes the jokes were really bad. Although, Chris had a very good one about a squirrel that she recycled several times!

So, if you have a burning question about Real Estate - or about anything actually - feel free to give a call. They'll be on the air from 8 to 9pm and would love to hear from you. 856-696-0092

Sorting Out The Current Housing Tax Credits

2010-01-16T16:35:00.000-08:00

For those of you who have questions about the tax credits currently available....

Via Susan Fang (First Triangle Realty, Inc. ):

From http://www.federalhousingtaxcredit.com/faq2.php
1) Who is eligible to claim the $6,500 tax credit? Qualified move-up or repeat home buyers purchasing any kind of home are eligible to claim this credit.

2) What is the definition of a move-up or repeat home buyer?
The law defines a tax credit qualified move-up home buyer (“long-time resident”) as a person who has owned and resided in the same home for at least five consecutive years of the eight years prior to the purchase date. For married taxpayers, the law tests the homeownership history of both the home buyer and his/her spouse. That is, both spouses must qualify as long-time residents, with at least five years of principal residency for each. Repeat home buyers do not have to purchase a home that is more expensive than their previous home to qualify for the tax credit.

3) How is the amount of the tax credit determined?
The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $6,500. Purchases of homes priced above $800,000 are not eligible for the tax credit.

4) Are there any income limits for claiming the tax credit?
Yes. The income limit for single taxpayers is $125,000; the limit is $225,000 for married taxpayers filing a joint return. The tax credit amount is reduced for buyers with a modified adjusted gross income (MAGI) above those limits. The phaseout range for the tax credit program is equal to $20,000. That is, the tax credit amount is reduced to zero for taxpayers with MAGI of more than $145,000 (single) or $245,000 (married) and is reduced proportionally for taxpayers with MAGIs between these amounts.

5) What is “modified adjusted gross income”?
Modified adjusted gross income or MAGI is defined by the IRS. To find it, a taxpayer must first determine "adjusted gross income" or AGI. AGI is total income for a year minus certain deductions (known as "adjustments" or "above-the-line deductions"), but before itemized deductions from Schedule A or personal exemptions are subtracted. On Forms 1040 and 1040A, AGI is the last number on page 1 and the first number on page 2 of the form. For Form 1040-EZ, AGI appears on line 4 (as of 2007). Note that AGI includes all forms of income including wages, salaries, interest income, dividends and capital gains.

To determine modified adjusted gross income (MAGI), add to AGI certain amounts of foreign-earned income. See IRS Form 5405 for more details.

6) If my modified adjusted gross income (MAGI) is above the limit, do I qualify for any tax credit?
Possibly. It depends on your income. Partial credits of less than $6,500 are available for some taxpayers whose MAGI exceeds the phaseout limits.

7) Can you give me an example of how the partial tax credit is determined?
Just as an example, assume that a married couple has a modified adjusted gross income of $235,000. The applicable phaseout to qualify for the tax credit is $225,000, and the couple is $10,000 over this amount. Dividing $10,000 by the phaseout range of $20,000 yields 0.5. When you subtract 0.5 from 1.0, the result is 0.5. To determine the amount of the partial first-time home buyer tax credit that is available to this couple, multiply $6,500 by 0.5. The result is $3,250.

Here’s another example: assume that an individual home buyer has a modified adjusted gross income of $138,000. The buyer’s income exceeds $125,000 by $13,000. Dividing $13,000 by the phaseout range of $20,000 yields 0.65. When you subtract 0.65 from 1.0, the result is 0.35. Multiplying $6,500 by 0.35 shows that the buyer is eligible for a partial tax credit of $2,275.

Please remember that these examples are intended to provide a general idea of how the tax credit might be applied in different circumstances. You should always consult your tax advisor for information relating to your specific circumstances.

8) How is this home buyer tax credit different from the tax credit that Congress enacted in July of 2008? How is this different than the rules established in early 2009?
The previous tax credits applied only to first-time home buyers and were for different amounts of money.

9) How do I claim the tax credit? Do I need to complete a form or application? Are there documentation requirements?
You claim the tax credit on your federal income tax return. Specifically, home buyers should complete IRS Form 5405 to determine their tax credit amount, and then claim this amount on line 67 of the 1040 income tax form for 2009 returns (line 69 of the 1040 income tax form for 2008 returns).

No other applications are required, and no pre-approval is necessary. However, you will want to be sure that you qualify for the credit under the income limits and repeat home buyer tests. Note that you cannot claim the credit on Form 5405 for an intended purchase for some future date; it must be a completed purchase. Home buyers must attach a copy of their HUD-1 settlement form (closing statement) to Form 5405 as proof of the completed home purchase.

10) What types of homes will qualify for the tax credit?
Any home that will be used as a principal residence will qualify for the credit, provided the home is purchased for a price less than or equal to $800,000. This includes single-family detached homes, attached homes like townhouses and condominiums, manufactured homes (also known as mobile homes) and houseboats. The definition of principal residence is identical to the one used to determine whether you may qualify for the $250,000 / $500,000 capital gain tax exclusion for principal residences.

It is important to note that you cannot purchase a home from, among other family members, your ancestors (parents, grandparents, etc.), your lineal descendants (children, grandchildren, etc.) or your spouse or your spouse’s family members. Please consult with your tax advisor for more information. Also see IRS Form 5405.

I read that the tax credit is “refundable.” What does that mean?
The fact that the credit is refundable means that the home buyer credit can be claimed even if the taxpayer has little or no federal income tax liability to offset. Typically this involves the government sending the taxpayer a check for a portion or even all of the amount of the refundable tax credit.

For example, if a qualified home buyer expected, notwithstanding the tax credit, federal income tax liability of $5,000 and had tax withholding of $4,000 for the year, then without the tax credit the taxpayer would owe the IRS $1,000 on April 15th. Suppose now that the taxpayer qualified for the $6,500 home buyer tax credit. As a result, the taxpayer would receive a check for $5,500 ($6,500 minus the $1,000 owed).

Instead of buying a new home from a home builder, I hired a contractor to construct a home on a lot that I already own. Do I still qualify for the tax credit?
Yes. For the purposes of the home buyer tax credit, a principal residence that is constructed by the home owner is treated by the tax code as having been “purchased” on the date the owner first occupies the house. In this situation, the date of first occupancy must be after November 6, 2009 and on or before April 30, 2010 (or by June 30, 2010, provided a binding sales contract was in force by April 30, 2010).

In contrast, for newly-constructed homes bought from a home builder, eligibility for the tax credit is determined by the settlement date. Be sure to check with a tax advisor in cases where a HUD-1 form is not used at settlement to be sure you have sufficient documentation to attach to IRS Form 5405.

11) Can I claim the tax credit if I finance the purchase of my home under a mortgage revenue bond (MRB) program?
Yes. The tax credit can be combined with an MRB home buyer program.

12) I am not a U.S. citizen. Can I claim the tax credit?
Perhaps. Anyone who is not a nonresident alien (as defined by the IRS) and who has owned and resided in a principal residence in the United States for at least five consecutive years of the eight years prior to the purchase date can claim the tax credit if they meet the income limits. For married taxpayers, the law tests the homeownership history of both the home buyer and his/her spouse. The IRS provides a definition of “nonresident alien” in IRS Publication 519.

13) Is a tax credit the same as a tax deduction?
No. A tax credit is a dollar-for-dollar reduction in what the taxpayer owes. That means that a taxpayer who owes $6,500 in income taxes and who receives an $6,500 tax credit would owe nothing to the IRS.

A tax deduction is subtracted from the amount of income that is taxed. Using the same example, assume the taxpayer is in the 15 percent tax bracket and owes $6,500 in income taxes. If the taxpayer receives a $6,500 deduction, the taxpayer’s tax liability would be reduced by $975 (15 percent of $6,500), or lowered from $6,500 to $5,525.

14) Is there a way for a home buyer to access the money allocable to the credit sooner than waiting to file their 2009 or 2010 tax return?
Yes. Prospective home buyers who believe they qualify for the tax credit are permitted to reduce their income tax withholding. Reducing tax withholding (up to the amount of the credit) will enable the buyer to accumulate cash by raising his/her take home pay. This money can then be applied to the downpayment.

Buyers should adjust the withholding amount on their W-4 via their employer or through their quarterly estimated tax payment. IRS Publication 919 contains rules and guidelines for income tax withholding. Prospective home buyers should note that if income tax withholding is reduced and the tax credit qualified purchase does not occur, then the individual would be liable for repayment to the IRS of income tax and possible interest charges and penalties.

In addition, rule changes made as part of the economic stimulus legislation allow home buyers to claim the tax credit and participate in a program financed by tax-exempt bonds. As a result, some state housing finance agencies have introduced programs that provide short-term second mortgage loans that may be used to fund a downpayment. Prospective home buyers should check with their state housing finance agency to see if such a program is available in their community. To date, 18 state agencies have announced tax credit assistance programs, and more are expected to follow suit. The National Council of State Housing Agencies (NCSHA) has compiled a list of such programs, which can be found here.

15) HUD allows “monetization” of the tax credit. What does that mean?
It means that HUD will allow buyers using FHA-insured mortgages to apply their anticipated tax credit toward their home purchase immediately rather than waiting until they file their 2009 or 2010 income taxes to receive a refund. These funds may be used for certain downpayment and closing cost expenses.

Under the guidelines announced by HUD, non-profits and FHA-approved lenders are allowed to give home buyers short-term loans. The guidelines also allow government agencies, such as state housing finance agencies, to facilitate home sales by providing longer term loans secured by second mortgages.

Housing finance agencies and other government entities may also issue tax credit loans, which home buyers may use to satisfy the FHA 3.5 percent downpayment requirement.

In addition, approved FHA lenders can purchase a home buyer’s anticipated tax credit to pay closing costs and downpayment costs above the 3.5 percent downpayment that is required for FHA-insured homes.

More information about the guidelines is available on the NAHB web site. Read the HUD mortgagee letter (pdf) and an explanation of the FHA Mortgagee Letter on Tax Credit Monetization (pdf). An FAQ about monetization (pdf) is available at the NAHB web site.

16) If I’m qualified for the tax credit and buy a home in 2009 (or 2010), can I apply the tax credit against my 2008 (or 2009) tax return?
Yes. The law allows taxpayers to choose (“elect”) to treat qualified home purchases in 2009 (or 2010) as if the purchase occurred on December 31, 2008 (or if in 2010, December 31, 2009). This means that the previous year’s income limit (MAGI) applies and the election accelerates when the credit can be claimed. A benefit of this election is that a home buyer in 2009 or 2010 will know their prior year MAGI with certainty, thereby helping the buyer know whether the income limit will reduce their credit amount.

Taxpayers buying a home who wish to claim it on their prior year tax return, but who have already submitted their tax return to the IRS, may file an amended return claiming the tax credit using Form 1040X. You should consult with a tax professional to determine how to arrange this.

17) For a home purchase in 2009 or 2010, can I choose whether to treat the purchase as occurring in the prior or present year, depending on in which year my credit amount is the largest?
Yes. If the applicable income phaseout would reduce your home buyer tax credit amount in the present year and a larger credit would be available using the prior year MAGI amounts, then you can choose the year that yields the largest credit amount.

18) How can two unmarried buyers allocate the tax credit if one qualifies for the $8,000 first-time home buyer tax credit and the other qualifies for the $6,500 repeat home buyer credit?
The buyers can allocate the tax credit in any reasonable manner, provided neither claims a tax credit higher than the one they qualify for and the home purchase does not yield a total of more than $8,000 in tax credits. For example, the repeat home buyer could claim $6,500 and the first-time home buyer could claim $1,500. Alternatively, both buyers could claim a $4,000 tax credit.
Does a married couple qualify for any home buyer tax credit in the following situation? Spouse A has lived in and owned the same principal residence for at least five years. Spouse B has lived in and owned the same principal residence for less than five years.
In this situation, the couple does not qualify for any home buyer tax credit. Because the couple is married, the law tests the ownership history of both spouses. Spouse A clearly does not qualify for the $8,000 first-time home buyer tax credit, so neither does Spouse B.

Spouse A does appear to qualify for the $6,500 repeat buyer credit, but because Spouse B has not owned and lived in the same principal residence for at least five years, neither of them can claim the repeat home buyer tax credit.

There you have it!

But This Year I Really Mean It!

2010-01-16T15:00:00.000-08:00

I have just celebrated my 48th New Year's Eve. It can be such a cliche to wish everyone a 'Happy New Year', but somehow it feels different this year.
Perhaps I feel this way due to the difficulties that some of my clients are dealing with, perhaps it is because there have been so many people around me who are suffering from cancer, perhaps it's due to the fact that some of my classmates have recently lost siblings or parents.

Or it could be because I've recently reconnected with so many of my old friends on facebook. I'm truly grateful for the added layer of richness to my life this one thing has added.

It probably is due to the opportunity for the fresh start, the new beginning that each January brings.

I am just not sure.

I just know that life is to be lived.....and appreciated.

From the bottom of my heart, I wish you all your BEST YEAR EVER!

So Much To Do............So Little Time............

2009-11-12T08:55:00.001-08:00

The Pennsville Business Association (PBA) is holding it's first Annual Business Expo on Sat. Nov. 14th @ The PMHS Gymnasium, from 10 am to 2 pm.

I'm involved in setting up for the entire event, but am also overseeing 4 tables for groups that I am involved in: The Pennsville Public Library (http://www.pennsville.org/) , The Coldwell Banker Pino Agency (http://www.pinorealty.com/) , Picture That Frame Shop (http://www.picturethatframeshop.blogspot.com/) and JUICE PLUS (http://www.chookssharesjuiceplus.com/)

Whew! This is going to wear me out, I believe.

Anyway, you should stop by the high school gym on Sat. if you're in town. There's going to be all kinds of drawings, give-a-ways, 50/50 drawing, treats to eat, entertainment and MORE! It looks to be a great day!

5 Ideas to Help You Become Financially Fit

2009-11-10T20:49:00.000-08:00

Boy, this recession has hit us awfully hard! If you find yourself in need of a fresh start, January 1st is right around the corner. It's the perfect time to regroup and begin again. While there are many, many books and articles published each year about money, about saving money, about investing money, about the evils of money, about the joys & power of money.........it really is possible to boil it down to several key points.

1) Track your Spending.
I once attended a group who's entire focus was to support one another in each other's money decisions. It was an enlightening and freeing experience. The single most important exercise was to track ones spending. Some say 2 weeks is enough, personally I believe 30 to 40 days is better. Most of us think of our billing cycles in monthly units, so I think it's most productive to work on that time-table. Your 'money journal' doesn't have to be anything fancy. A simple tablet will do. Be diligent! This one idea is the key. As the old saying goes, "You have to know where you are, before you can get to where you want to go."
online help can be found at: http://www.wesabe.com/, http://www.mint.com/

2) Automate bill paying
If you are able to utilize the automated services, this can really help you to stay on track and on time with your bill paying. (Being a business person who is paid by commissions, I have hesitated to fully take advantage of this idea because our settlements do have delays..........more than I'd like to admit. This is not for me, right now. ) The advantage of being automated is that you no longer have to think about what you should do..........the bills get paid, exactly when & how they should. You must, however, resist the temptation to purchase an unnecessary handbag or enjoy an expensive dinner that hasn't been planned for. Decisions like that can absolutely wreak havoc on your finances when the automatic payments are subtracted from your account.

3) Pay down your debt
I read in Reader's Digest recently that Americans under the age of 35 spend 19.7 cents out of every dollar they earn on debt payments. 19.7 cents - wow! And it's getting worse. If you have debt that you can't pay off this month or even within two months, DON'T MAKE ANY NEW DEBT! Let me repeat that, DON'T MAKE ANY NEW DEBT! The easiest way to attack debt is to make a list of your debts. Take note of the interest rate. Some experts will advise you to pay off the highest interest rate accounts first. Others want you to taste success quickly by paying off the smallest balances first so you will have the thrill of crossing that debt completely off of your list. I say whatever approach appeals to you most, follow that one. Paying down debt, no matter how you do it, is the key here.

4) Pay Less, Earn More
There are 2 ways to get ahead financially: you must either increase your earnings or lower your expenses. Period. This tip is the one that tells you to watch what you buy. Pay attention to prices and shop around. Do you WANT that new car or do you NEED it? Do you want a BMW or can you function quite nicely with a Corolla? When you are shopping for anything, make it a point to ask yourself if you can buy it for less or substitute a different item that will cost less.
Regarding earning more income.......look into working more hours at your current job, putting in for a promotion, taking on a part-time job on-the-side, beginning a home-based business, etc. What can you do to increase your earnings?

5) Get Health Coverage
Well, this is a hot topic now-a-days. We all know the financial ramifications that can happen should you have a catastrophic health problem while you have no insurance. It's just not fair. As I sit and write this post this morning, the news is all over the television that our Congress has passed a health care reform bill. It is on it's way to the Senate next. This key point in financial fitness is a difficult one for one very simple reason: Health Insurance is very, very expensive. There are limited liability policies that can at least cover your doctor visits, prescriptions and minor emergency room visits. Perhaps you can begin with something like that if you currently have no coverage.
Hopefully, the issue of health insurance will change for the better in the near future. Until that time, it is important to do what you can. Provide for your family what you are able to and most importantly, practice good health habits in an effort to be proactive in practicing preventative medicine.
Here are some websites that may be helpful to you: http://www.statehealthfacts.org/, http://www.covertheuninsured.org/, http://www.ehealthinsurance.com/

6) Save, Save, Save, Save, Save, Save, Save..............
Enough said, right?! But we don't do it! We've all heard the advice that we should be saving 10% of our income and some even say a higher percentage, but many of us feel that we need to pay the bills first. After paying the rent/mortgage, electric, phone bill, taxes, water, sewer, dance lessons for your daughter, whatever...........that 10% may be long gone. So, in 2010, do yourself a favor and just get into the habit of saving money first. Just save SOMETHING. After the habit is in place, you can begin to increase the amount.

7) TALK About Money!
Americans do not like to talk about money. We'll talk about our children, our health, our relationships, even our sex lives, but most people cringe at the thought of talking about money. How strange that something we all have to learn to deal with is so out-of-bounds for discussion. I have one very dear friend who I do make a habit of talking about money issues with. Sometimes I need some advice (should I - shouldn't I?) sometimes I simply need to voice out loud what is going on. It's so important to find a person, who you can trust and who won't be judgmental, to review and discuss your money situation with. This idea alone is gold.
Look for different ways to discuss money. Instead of saying that you can't afford something, say it isn't in your budget right now. Doesn't that sound better? But isn't it the truth, too?!
These 7 ideas can make profound changes in your financial life. Actually, they can make profound changes in your entire life. Take it one step at a time and simply do your best. If you run into problems or slip back into your old habits, just begin again and keep trying.

This is important stuff, Folks!

If You Could Choose A New Profession........

2009-11-03T18:44:00.000-08:00

A quick question for all of you:

If you were to choose a different profession, what would it be?

I have a huge interest in journalism, so I'd like to be a reporter. Specifically, I'd like to be a political reporter............covering the White House. ( http://www.whitehouse.gov/ ) Now, THAT would be interesting! The election results are fascinating this evening, don't you think?
How about you? What do you want to be when you grow up????

9 Steps To Puttng Your House On The Market

2009-11-02T19:52:00.000-08:00

It is a big decision to sell your home or property. Here's a simple checklist for you to follow to make your decision a little easier.

1) Locate your deed, tax bill and survey

2) Locate and have handy all of the keys to your doors, shed, garage, etc

3) Declutter closets, basement, attic and garage; put away valuables

4) CLEAN - make your home sparkle
5) Tidy up the outside, too

6) Ask your friends and family for Realtor referrals, call 3 and set up interview appointments

7) Google the 3 Realtors, check out their websites, Facebook accounts, ActiveRain presence, Twitter, blogs, etc. DO YOUR HOMEWORK!

8) Meet with the Realtors, ask questions (more on that later) to determine which one is the best fit to help you and your family make your move. Pay attention to experience, community networks, problem solving abilities and production awards. These are all clues to help you determine past and future behaviors.

9) Choose the Realtor who you feel will look out for your best interests. Choose the Realtor who you feel will best help you make good decisions. Choose the Realtor who you feel will best communicate candidly with you and GET THE JOB DONE!

Just take it one step at at time and everything will be just fine.

Coming Soon: Effective Questions to Ask A Potential Listing Agent

Open House - Sunday, Nov. 1st - 1 to 3pm

2009-10-31T18:30:00.000-07:00

I know, I know, the Eagles are playing @ 1pm on Sun. Nov. 1st, but Life & Business go on. One of my fellow agents, Laura Derrick, will be filling in for me at an OPEN HOUSE at one of my favorite listings. In fact, there will be 3 OPEN HOUSES on this street on Sunday, so it's a great day to go shopping! Laura can help you with any of the 3 so please stop by to see her first.

My listing, is located at 117 Magnolia Drive in Pennsville, NJ. Here's a sneak peek: http://www.117magnoliadr.com/ This terrific home is in Warren Park Estates, the newest and one of the nicest, neighborhoods in Pennsville. Go to http://www.pennsville.org/ if you'd like to learn more about this great town. One of the most charming things about my hometown is the park in the center of town. It's known as RiverViewBeach Park.

http://www.youtube.com/watch?v=cxaUe72Tjdo

Once upon a time, the park had a swimming pool, a roller coaster, merry-go-round, bumper cars, a whip, a donkey ride and even a tunnel of love! This was a really HOT place to visit. Folks routinely came down from Philadelphia to enjoy the day at the park, situated on the Delaware River. At some point, the park closed, there was a fire on the roller coaster and the entire area was overgrown and dilapidated. When I was growing up in Pennsville in the 70's, the park was actually an ugly mess.

That all changed in 1976, the year of America's Bicentennial, the track of land was purchased by the township under NJ's Greenacres Program. It is now one of the most attractive, natural parks I've ever seen.

Just think how nice it would be to own a home in Pennsville where you could enjoy our park, along with your family and pets, on a regular basis. Priceless..........

http://www.pvhistorical.njcool.net/museum1.htm

Workforce Investment Board aka 'WIB'

2009-10-29T13:37:00.000-07:00

I haven't had much time in the office today because I had to attend my first WIB meeting.

The Workforce Investment Board is a committee of business people from both Cumberland and Salem Counties. It is comprised of somewhere between 31 to 51 individuals - some from large employers and some from small employers. For some reason, the Salem County Freeholders decided they wanted a Realtor on the board.

Since I don't seem to be able to say, "No" these days to requests for volunteering, here I am learning about WIB.

Today's meeting focused on some new programs at the Salem Community College. http://www.salemcc.edu/ SCC has some new, exciting programs for students like: Sustainable Energy Technology and Nuclear Energy Technology. It sounds to me like there will be a good number of GOOD jobs in the very near future. I believe SCC is one of only 6 institutions offering these degrees right now.

Another part of the meeting today highlighted Salem & Cumberland's 'One Stop Career Centers'. Boy are these offices in demand right now. The career centers help high school students, young adults who are out of school, returning adult students and even displaced adults. I'm pretty sure that most folks in my area don't even know about these services.
www.salemcc.edu/salem/one-stop.html

So, please do me a favor and spread the word. If you know anyone in this area who is struggling in a dead-end job and wants to change professions, has recently been laid off or is disabled.........there is help out there for them. Please have them call SCC @ 856-299-2100 - ask for the One Stop Career Center. Or feel free to call me, Chris Hooks @ 856-628-2710. Email works to: askchris@coldwellbanker.com

Now that I'm a WIB Board member, I should know where to point them. Best Wishes!

Pennsville Woman's Club - 'You All Have A Hidden Talent!'

2009-10-28T19:26:00.000-07:00

This is a thank you to the Woman's Club in Skagway, Alaska. When I was on vacation in 2008 and touring the small town of Skagway, I noticed a church who was having a 'flower show' for the local Woman's Club. It caught my eye right away as I am a member of the Pennsville Woman's Club. http://www.pennsville.org/

After a small admission fee, my family was treated to a lovely display of plants and flowers - all grown by my GFWC sisters. http://www.gfwc.org/ And they were all beautiful! There were refreshments, too.

You may be wondering why I am thinking about something that happened a year-and-a-half ago. Well, at our monthly luncheon today the announcement was made that it's that time again - it's time for the annual 'contests'. You can participate in a writing contest, photography, cake baking (or cupcakes, if you prefer!), fudge making, horticulture and more.

I've been a member for 2 years but have chosen not to jump in. This year? I just might! The question is: What is my hidden talent? I have no idea!

I can frame, but that's not a category. I can bake, but not as good as my friend Cyndi Boehly - so forget that cause I don't want to embarrass myself. I'm wondering if I should try to grow some flowers? How hard can that be? The Women in Skagway made it look achievable.

Thanks, Ladies!

If you need a quick sale......

2009-10-27T20:27:00.000-07:00

Just an idea for you. If you want to explore the possibilities for a quick Real Estate sale, consider having an auction. It's the fastest growing niche for the marketing of properties right now.

This is Joseph F. Pino. He's my Broker and my best friend.........and he's a kick*** Auctioneer! He really is! And if your house is full of stuff.......he's your man. He and his crew can auction that off, too. No muss - no fuss - for you, that is. They work really hard, while having fun though. Pretty soon they'll have a website for you to look at. I'll let you know when it's up and running.

The last listing of mine that Joe auctioned for me was in Elsinboro, on the water. It was a mess of a house but we attracted several bidders. My sellers were very, very happy with the process but most importantly they were happy with the bid that they accepted that day. They were even happier in 30 days when they went to settlement and collected their check!

Give me a call if you want more info on this terrific option for selling property. Joseph F. Pino and The Team of Chris Hooks - we can take care of it, Lickety Split!

Dodging Foreclosure

2009-10-25T08:48:00.000-07:00

I have 3 listings currently that are teetering on foreclosure. This is, unfortunately, quite common now-a-days. One of my listings is undercontract and we are at the mercy of the mortgage company's approval of an agreement of sale. I've written about this one before. My client has not paid their mortgage payment since 2007. I would have thought that Option One would have jumped at the chance to sell this one and move it off of their books, but that does not seem to be the case. The agreement of sale is over $140,000 less than what is owed.

The second property is now priced $60,000 less than the mortgage amount. Once we obtain a buyer, we will try our best to negotiate a short sale with that mortgage company. The house is in decent enough shape.......I've certainly seen worse! My client has not paid a mortgage payment for over a year.

The third property is just entering the foreclosure process. My clients are only 2 months behind in their payments, so nothing has been filed just yet. Our strategy for this property is to try to find an investor to offer just enough to cover all of the expenses. My Sellers would see a big, fat -0- on the bottom of their settlement sheet. The clock is ticking on this one, for sure.

The strange thing for me is how common these situations are now. I've been practicing Real Estate for 17 years. I had been involved in short sales a few times over the years..........I had done quite a bit of work for banks after they had taken possession of foreclosed properties, but I never lost one of my listings to a sheriff sale until 2008. I have now lost a total of 3 and am trying to hold off the above-mentioned 3. The thing is that in the situations where I lost the properties to foreclosure, my clients never even told me what was going on! I had no idea that they were in such distress!

Today's piece of advice is very, very simple: If you are in trouble with your mortgage.........COMMUNICATE with your mortgage company/bank and COMMUNICATE with your agent. We know what to do. We know this process. We care and most importantly, we can help you. Everything will be alright.

Chris Hooks 856-628-2710

Please Have Mercy!

2009-10-23T13:56:00.000-07:00

I've been working on a file for over 1,000 days. It's been teetering on the brink of foreclosure for quite awhile. We are on our 6th set of contracts and hoping to settle within the next 30 days. After all this time, a new judgement has popped up against my client. It's one of those dastardly credit card judgements.......not a small amount. It's for $9,000. The credit card company knows that we can't complete our closing without this being paid, or released.

Even though the client has no money to speak of, the credit card company is unwilling at this point to release the judgement. They still hold out hope that they will receive some money. The thing is that the client has no money! They have lost 2 businesses and now their home. They are living with family and only receive approx. $1,000 per month in income.

If we are unable to go to settlement, the folks who stand to get hurt is the buyer. They will lose out on their dream home, their anticipated $8,000 first-time-home-buyer tax credit, the monies they have put out-of-pocket for applications and inspections, etc. The BUYER is the one who will really bear the brunt of this situation. The property will go to foreclosure and guess what? The credit card company will not receive any of that money when the sheriff sells this home on the steps of the courthouse on Nov. 30th.

So, I ask Capital One and their attorneys to Please Have Mercy! Please use your common sense and realize that your investment has soured and there is no hope for payment. While I am sorry for this situation.................please don't punish the buyer who is caught in the middle.

Please Have Mercy!

Chris Hooks 856-628-2710

What a Shame........

2009-10-20T17:52:00.000-07:00

Today I was asked to look at a property that had been tenant occupied until Sept. 1st. The tenant had lived there for a year and planned on buying the home. Apparently, this individual was so excited to make the house her own that she began to renovate it, before she even owned it. She wanted to customize it to her family and their needs. Well, let me be the first to tell you that I just don't understand what her family's needs were. She removed stairs and replaced them with other stairs that just didn't make sense. She tore out the kitchen upstairs and decided to install one downstairs. She cut-up rooms that once were acceptable as bedrooms and turned them into dens, at best. She tore down fences and cut down trees. She changed closets into strange bathrooms..........and more.

As if that wasn't enough, she never bothered to share her activities with the current owner..........she never even bothered to get permission. Uh oh...............

My dilemma is how in the world to set a market value for this distressed home? How will my new client know exactly how much damage the tenant has done to her checkbook? I believe I must actually prepare 2 market analysis: one as if the house had never been renovated and is in average condition and one as it now stands. These 2 reports should show clearly what could have been.............and what truly is.

I am hoping that I can help my client out of a very big, a very stressful hole.

As I said............What a Shame.............

For A Good Cause

2009-09-13T18:23:00.000-07:00

Today marked the 33rd annual Septemberfest celebration in Pennsville township. Today also marked the 2nd time that our office held an Alex's Lemonade Stand during the parade. We planned just as we did last year.......baked cookies and brownies just as we did last year........prepared the Countrytime Lemonade just as we did last year. The difference is that this year we have 2 agents' family members battling cancer. I felt a little sad this year serving the beverages and treats.

BUT now I can see, firsthand, the big 'WHY' behind the effort.

Hopefully, we'll see you next year for #3. We'll be there the first Sat. after Labor Day, across the street from the Park. Please stop by!

go to www.pennsvillenews.com for local information
Chris Hooks 856-628-2710