Real Estate Information

244 Seattle Slew Way

Martinsburg, West Virginia 25401

4 Bedrooms, 2 1/2 Baths

Full Basement, 2 Car Garage

Formal Living and Dining Room

Family Room w/Gas Fireplace

Fully Equipped Kitchen w/Island

Master Suite w/Private Bath, Whirlpool Tub

   Double Vanities and Shower

This home listed for only $235,000

Excellent Condition....Priced to Sell Quickly

Beautiful Mountain and Pastoral Views

Perfect for a small farmette or horse farm

Adjoining 2 acre lot available with/poured foundation

Build a barn, workshop, garages or another home

This could be a wonderful 6 acre farmette!!!

Call me for more information

Jeanne Kozak   304-582-5215

Listed by RE/MAX In Action, Jeanne Kozak, Broker

If you have a buyer that wants to submit a bid on a HUD Home, the bidding and the contract are both done online at www.HUDHomeStore.com.  Read my blog Selling HUD Homes Part 5 to review the time lines for Insured (I)or(IE) and Uninsured(UI) properties so that you know when non-owner occupant investors can place a bid as there are limitations based on the type of property.

Once a bid is accepted, the Selling Broker must submit the full contract package and the EMD to the Asset Manager (AM) within 48 hours. The  AM will then review the contract and execute on behalf of HUD and then forward along with the EMD to the closing agent.

Examine the electronic bid carefully before submitting, you cannot make changes. Any differences between the electronic bid and the actual sales package sent to the AM may cause the bid to be canceled. Falsification of information will result in the cancellation of the bid. Remember, the electronic bid and actual package must be identical. I will go over the actual bidding process on HUD Homes in a future blog.

Here are some tips

• If the bidding deadline is "daily", bids must be submitted by 11:59 PM EST. If a bid is accepted from the bids received that day, the results will be posted by 4:00 PM EST
• If the deadline is Friday, Saturday or Sunday bids will be reviewed on the next business day
• Non owner occupants may not bid on an Insured (I or IE) property until the 31st day. Owner occupants have priority.
• Non owner occupants may bid on an Uninsured(UI) property on the 6th day. In both instances, owner occupants still have priority.
• If you place a bid prior to the posting deadline, be aware that you could be placing a bid on a property that may have an accepted bid. It is best to wait until after the posting deadline.

There is no limit to the number of buyers an agent can submit bids for.

An owner occupant buyer can submit more than one bid however

"If a purchaser submits multiple bids on the same property, only the bid producing the highest net return to HUD will be considered. If a prospective owner occupant purchaser submits a bid on more than one property, the bid that produces the greatest net return to HUD will be accepted and all other bids from that purchaser will be eliminated from consideration. However, if the prospective owner occupant purchaser has submitted the only acceptable bid on another property, then that bid must be accepted and all other bids from that purchaser on any other properties will be eliminated from consideration." Code of Federal Regulation 24 C.F.R. 291.205

In the case of a non-owner occupant, there are no restrictions on the number of bids or HUD Homeproperties they can purchase.

If more than one offer is received, the bids will be ranked in the order of the highest net to HUD. You may include on the sales contract that your buyer would like to remain in a back up position and will be notified if they are the second back up. If the primary bid cancels, the back up will be given the opportunity to move to primary position. Once notified, the contract package must be sent within 48 hours, but do not send unless notified.

COUNTER OFFERS

The AMs will look at all the bids. If no bid is considered to be acceptable, but may be in an acceptable range, the AM may email the bidders and set the status at accepting counters, and request the submission of another bid. HUD will make the same counter offer to all bidders. The highest and best bid may then be accepted.

CANCELING A BID

A bid may be canceled online up until the time that the AM has accepted the bid and received and accepted the contract. Once that point is passed, the selling broker must contact the AM and the closing agent if the buyer is not going to settle on the HUD Home and request the EMD return in writing with reasons for the not going to settlement. It is at the sole discretion of HUD to return the EMD.

Subscribe to my blog to follow the Selling HUD Homes series. We are learning the new HUD procedures as many of you are, but as a HUD listing broker, we are required to provide training and help with the sales of HUD Homes. We provide training in our office and in places like this AR blog. There are still some growing pains, and not all AMs follow exactly the same procedures with their properties. But they are getting their systems in place and are doing a good job for the most part. 

Can Gen Y, the next big demographic group after the baby boomers, lead us out of the economic downturn? These first-time buyers could lead the recovery and they have the advantage of not having an existing home to sell.

What does Gen Y want in housing? With Generation Y positioned to lead the next surge in housing, builders are studying what makes them tick, how to market to them and what they want to buy. Some pro-active builders are redesigning for this age group by designing smaller, more-efficient homes that are more conservatively priced.

Who is Generation Y? Also known as Millennials and Echo Boomers, they are the 75 million people born between 1982 and 1995 of baby boomer parents, according to census data. They're nearly the same size as the boomer generation — 75.8 million born between 1946 and 1964.

Gen Y is different. Gen Y is buying homes at a younger age than the preceding Gen X, and they tend to spend more on their first home. They are in their own world.  One of those worlds is high-tech. This digital generation grew up with technology and knows how to use it to their advantage. They always have a phone in their hand. Gen Y relies on the Web and social networks for house hunting. They're always using tech. They have no learning curve with it because they've grown up with it. 

There's a lot of pent-up demand from Gen Y for housing and they're eager and ready to buy. 

For the past 4 years, I have been part of an amazing group of Habitat For Humanity volunteers from Frederick County, Maryland, even though I live in West Virginia.  I got an email from HFH in Waveland/Bay St. Louis, MS. with this very touching story of the Children of 911 Victims taking their time to help build a home for a family that may have lost everything they had in Hurricane Katrina.

I was so excited to see this because this is where our  Habitat group has gone for the last 2 years on our twice a year mission trip, Waveland/Bay St. Louis, MS, where the eye of Hurricane Katrina made landfall and destroyed nearly everything in its path. We are leaving on our next trip March 12-19 and we cannot wait to get going. I am sure most of us have our bags packed, tool belts neatly packed with our own favorite tools, Habitat shirts, hats etc. all clean from the October trip. And we will be in the same place as these amazing children, such an honor.

Watch the video and read the story, you will see the spirit and generosity of these children that lost so much themselves on 9/11/2001, so willing to give to others that have suffered loss too. I wish we could have been there to meet them. 

Oh, and I plan to blog and post pics through our week long build March 12-19  for you to see. I hope to be able to work some, but I am having back surgery March 3, so I had to promise I would take it easy, be like the mascot this time...hmmm, we'll see. Watch for my blog and watch us build a home, hopefully from the foundation to blessing it for the family before we leave. Life Changing! 

HFH Bay-Waveland was Affiliate of the year for 2009 and 2010, they are a great group of people. 

This is always a question I am sure gardners and non-gardners toy with every year.

If I plant my own garden...

• I can choose what I want to plant and harvest
• I can grow organically without pesticides
• It is more affordable to grow my own food
• It is a good way for my family to work together, learn about foods and learn good work ethic
• It is good exercise
• I can learn to appreciate nature

If I choose to visit the local farmers' market...

• I support the local farmers' and local economy
• It takes much less time and energy
• I can buy a wide range of organic products
• My family can share the experience of the farmers' market and supporting small, local businesses
• The variety and choices of foods and produce will be greater

The truth is, it should be somewhere in between for most of us. Working your own land has a deep satisfaction and many healthy benefits. Supporting local farmers' and small local businesses is essential for the future of our small farms.

For Dan and I, we grow a lot of our own food. In the center of all the produce is my herb garden, my favorite part of the garden. We really enjoy our time together canning and storing food for the coming winter months...But we also look forward to our Sunday morning trip to the local farmers' market to visit friends, listen to local musicians, buy free range eggs, fruit and veggies, plants and flowers, hot coffee and a cinammon bun. Then it is back home to our 1200 square foot garden and all the fun and hard work that comes along with it. Spring is just around the corner and I can't wait!  

Blue Grass Music at Pickin' In The Panhandle - Preview

Spring is just around the corner so it is time to get out and do some Pickin'. Pickin' In The Panhadle that is. If you love music, good ole Blue Grass Music, make your way to the Apollo Civic Theater in Martinsburg WV this Saturday, March 5, doors open at 6PM.

This is a preview for the BIG Pickin' In The Panhandle on September 9-11, 2011 in Back Creek Valley WV, just over an hour from Washington DC.

Visit Pickin' In The Panhandle for more information.

Even if your home was built before the idea of sustainable living was the buzz word, you can still be moreenvironmentally friendly and save money by reducing your utility usage.

Make use of the sun, it is free. Check out where the sun rises and sets and use that to your advantage if you are installing solar panels or thermal systems. You may want to install larger windows to capture more of the free heat.

Make a chart of your utility bills and see where you are wasting energy dollars.

• Turning your heat down 1 degree could save as much as 10% on heating costs
• Close the curtains at night
• Install bottom sweeps on doors
• Check for drafts and add weather stripping
• Turn heat down at night, try a programmable thermostat
• Do an insulation audit, and add where you need to
• Turn lights off when not in use
• Use low energy light bulbs
• Never leave electronic equipment on stand-by, turn them off when not in use for long periods
• Only run dishwasher and washing machine with a full load
• Dry clothes outside when possible and practical
• Pressure cookers are fast, economical and energy efficient
• Replace old appliances with Energy Star appliances
• Showers use less water then baths
• Install water saver toilets
• Wrap your water heater, replace if more than 15 years old
• Insulate pipes in unheated areas such as attics and crawl spaces

Can you make some lifestyle changes that are good for you and the environment? These will of course depend on where you live.

• Use public transportation, carpool or walk more often
• Shop locally
• Visit farmers markets for fresh locally grown food
• Buy more organic products and products labeled "fair trade"
• Reduce what you throw away in the landfills
• Recycle everything you can
• Re-use as much as you can
• Donate instead trashing

These are all simple changes that you can make that may not only save you money, but help preserve our precious environment. Every little bit helps, even one or two changes can make a difference. The more you do, the more you will want to do. It can be addictive...sort of like Active Rain, right Rainmakers! 

One of HUDs objectives is to provide the opportunity for home ownership to some who have not previously been able to own a home. HUD has established some special programs to meet that goal.

• REVITALIZATION AREAS

FHA has designated Revitalization Areas in some geograpihic areas that have been extremely hard hit by the housing crisis. The National Housing Act has given FHA this authority and enables HUD to help promote homeownership which in turn will enable growth and expansion in the areas with the aid of federal assistance for for affordable housing. The criteria for designation is based on:

1. Average Household Income
2. Homeownership Rate
3. FHA-insured mortgage foreclosure activity

The special HUD programs offer HUD owned homes at discounted prices.

• Asset Control Areas (ACA)

State, County and local governments, as well as Non Profits, may contract with HUD to make ACA properties exclusively available to the ACA particpipant. Properties appraised at $25,000 or less may be purchased for $100 (We received a notice from one of the Asset Managers that this program was no longer available, I have not been able to confirm yet); all other properties are offered at a 50% discount of appraised value.

• Good Neighbor Next Door (GNND)

The GNND program allows full time law enforcement officers, pre-kindergarten through 12th grade teachers and fire fighters/emergency medical technicians, in addition to approved non-profits and government organizations, the opportunity to purchase HUD homes in a revitalization area at 50% of the list price.

Buyers must agree to live on the home as their primary residence for 36 months. The discounted amount is a silent second, with no payment due on the second nor is any interest accrued, so long as the residency requirement is met. The second is forgiven at the end of the 36 month period. Buyers cannot have owned any real estate for one year prior to the purchase. Should the buyer not meet the residency requirement, they will incur substantial penalties. Bids are submitted as with other HUD homes by a registered HUD broker.

Non profits and government agencies must be approved by HUD to participate and must present a plan that identifies the areas they wish to participate in and buy homes, they are restricted to only those areas.

These programs are available for the 5 Day Pre-Sale period before the home is for sale to the public (see my part 5 blog for information on the different sales periods) The winning bidder will be selected by lottery from those that agree to the terms of the program and who meet all the requirements. The offer is made at full price and the appropriate discount is given at settlement.

To find out if you have a designated area in your market go to HudHomestore. There is more information on all these programs on this site. The site has been updated and is an excellent source of information on HUDs programs.

If you are interested in working to get an area designated contact your regional HUD HOC.

As always, as a HUD Co-Listing Broker, I am available to answer any questions you may have. If I do not know the answer, I will research and do my best to get one. We are holding training classes in our area, contact me if you are interested.  

Real Estate Radio Today - Are you Listening?

I hope all of you are all taking advantage of NARs REAL ESTATE TODAY Radio Show. You can listen online or search for a local radio station. Segments include:

• Local Market Conditions
• All About Mortgages
• Real Estate News
• Interviews with Top Executives
• Hot Topic Blog
• Real Estate Resources
• HouseLogic
• Archives of Past Shows

There is a wealth of knowledge on RETRadio, and it comes to REALTORS as a benefit belonging to The National Association of REALTORS. Gil Gross, the host, is an award winning journalist and brings years of journalistic experience and excellence to the show.

46 Harrison Drive

Inwood Meadows Subdivision

Inwood, WV 25428

Split Foyer with Family Room on Lower Level

3 bedrooms, 2 full baths, 1 Car Garage

Large Living Room, Dining Area & Kitchen Appliances

Tastefully Decorated, Move In Condition

This home is in very good condition and should be listed in a few days

Contact us for further details. JeanneKozak@mris.com