Celebration of Life and Love

Memorial Day is a day of remembrance for those who have died in our nation's service.  No one appreciates that more than the men and women who served with these great heroes and, by the hand of God, were spared to continue the mission and return home to the warm embrace of loving family.  

Recently, during some genealogy research, I found a trail on my mom's side of the family that kept me up all night.  One of the coolest things I found was this: http://www.ussbush.com/ordnancp.htm.  My grandfather is the second guy from the right in the first row.  Isn't he a looker?  And look at all that hair!  My grandmother just adored him.

When I was 13, I was on the balcony (where I could be found tanning every clear day of summer that year) and she came out to sit with me.  This particular day, she just wanted to reminisce about her husband.  She gave me a picture of the two of them that was taken during The War.  They looked so happy and in love.  The way her eyes twinkled when she talked about him, how romantic and good looking he was, how in love with him she was, is something I will never forget.  It isn't often that someone mentions their love and you are immediately and thoroughly convinced of their romance.

The above photo was taken after his rescue on 6 Apr 1945.  Apparently, he was in the Pacific aboard the destroyer, USS Bush during WWII when three Japanese Kamakazi pilots dive bombed over a period of two days in Okinawa, Japan.  The ship sunk and the survivors were rescued by the heroic efforts of the LCS64.  I can't even imagine the horrors these men suffered through and the sheer terror that must have been in their hearts as they did the work they were trained to do to defend our great country and the ideals for which we stand.  I am told that my grandfather watch many good friends die a horrific fiery death that day about which he refused to speak for the rest of his life.

The men who fought in WWII were like no others.  They had a clear vision of purpose and knew exactly what they were fighting for.  The life and country they loved, their family, wives, children, neighbors were to be protected and defended.  These men endured stresses and saw the ravages of war, and yet, many came home, happy to be alive and free, feeling a sense of accomplishment and pride that was well deserved as they threw their arms around their mothers, wives and children, and took their place again as providers and protectors.

Many of these men came home and, in a spirit of reunion with their beloved wives, grew their families exponentially.  Thus, the baby boomers were born.  My grandparents were no different.  Thanks be to God, my grandfather survived the attack on the USS Bush and came home to to my grandmother and their two children.  As I calculated the math, I realized that my mother, who was born in Feb 1947, is the direct result of their post-war celebration of life and love!

My family was fortunate to have been spared the pain and tragedy of the loss of my grandfather.  Yet each of us has been touched, in one way or another by the loss of a loved one, neighbor, friend, church member, or co-worker.  May we remember today with grateful hearts the men and women of our country who in the day of decision ventured much for the liberties we now enjoy.  God bless the American Soldier.

FAQ 1 - Should I Lease With an Option to Buy?

I am often asked by buyers if my listings are available for lease option or if I would help them locate a lease with an option to purchase.  First, for those who aren't familiar, a lease with option to buy means that a prospective home buyer would identify a property where the seller is willing to defer the purchase until a later date, usually one to two years, at a pre-negotiated price and terms.  During the one to two year waiting period, the buyer will lease the home, usually after making a sizable deposit and will occupy it as a tenant until the sale closes at the end of the lease term.

While our current market conditions have produced a few of these properties, I generally do not recommend this type of purchase.  Here is why:

Usually, if a seller is willing to do a lease with option, it is often because they have overpriced the property and cannot or will not sell it at market value.  A buyer agreeing to purchase a property this way may be committing to overpaying for the home.  Typically, a deposit of several thousand dollars is required, and would be lost if the buyer doesn't go forward with the purchase at the end of the lease term.  I am told by a lender friend that, statistically speaking, less than 2 out of 10 buyers are able to qualify for a mortgage at the end of the lease term when the reason for the choice to lease with option is that the buyer is trying to find a way to buy a home with bad credit.  In addition to these risks, your selection of properties is greatly limited to the small number of sellers who are willing to lease with option to buy. 

I generally recommend to my clients who are either working on credit repair or saving down payment to commit to renting for a year or two while working with a reputable credit repair specialist, such as Credit Repair Resources and get credit back on track to buy a home.  After a period of several months, if the client follows the plan and does the work that they are instructed to do, they will have cleaned up their credit profile and will be able to obtain mortgage pre-approval.  At that point, the client will be in a position to choose any home that suits, within their budget.    

If this recommendation doesn't fit your current situation or if you have more questions than this post addresses, please contact me directly at mstanifer@gmail.com or (440) 391-1304.  I am always happy to answer your questions and am available to help you locate a property to lease or buy.  

Waiting for the rain

Penny is definitely the smarter of our two dogs.  Chloe is all heart but, sadly, not much on brains.  From the time Penny was young, when she would wrap herself around a tree on her tie-out, I could tell her to “go around the tree,” pointing the direction with a sweep of my arm and she would run counter to her original wind and free herself.  A pretty good trick if I do say so myself. 

Chloe, however will wind herself around the tree, and as I do with Penny, I will instruct her to “go around the tree.”  This interaction only serves to excite her.  She is so happy that I am giving her any attention at all just at a time when she is feeling trapped and forgotten that she begins to jump and smile and wag her tail. 

The more I try to command her, the more excited she gets.  Oh, yes, she has run around the tree as I have instructed her, but invariably, it will be in the same direction she went when she became stuck to begin with.  Eventually, I give up and tramp out in the rain to unwind and “rescue” her.  Oh, did I forget to mention that this is a rainy day trick?  I can’t recall a single time she has performed this one when it was not raining outside. 

As I approach, she will give excited little yelps and I can almost hear the trumpets in her head as her brain plays, “here she comes to save the day!”  Once I am close enough to help her, she becomes so grateful that she jumps up to hug and thank me, wiping her muddy paws all over my clothes.

Other favorite tricks of theirs that I enjoy are the Two Dog Tangle, the Unstaking of the Tie-out, the Tie-out Chew Through, and the Snapping of the Chain.  There is nothing fun about tying out dogs in the yard.  The escape methods vary, but dogs are pretty ingenious when they really want to “self walk.” 

Then there is the safety issue.  Chewing on a twisted steel tie-out can’t be good for the teeth and gums.  Watching a dog lunge on her chain as the mailman stops by is tortuous for me to see.  I can only imagine the damage being done to the trachea and spine.  Additionally, who knows where they go and what they do when they are gone?  I once retrieved them running down the main road with twenty foot cables and twisty, muddy stakes dragging along behind them. On one of Penny’s escapes, she returned about an hour after she left, soaking wet and reeking of chlorine.  Obviously, whichever neighbor’s pool she was in wasn’t home or I am sure they would have called to give me an earful, considering our phone number is on her dog tag. 

But all of that is about to change.  Yesterday, my husband installed deer fence around the perimeter of our backyard.  Because our back yard butts up to the woods and I would like to have a vegetable garden this year, a deer fence is a must have.  Better than keeping the deer out, however, is keeping the dogs in.  While I realize that fences can be jumped, dug under and chewed through, I am not sure my dogs are that ambitious.  Until they prove me wrong, I am enjoying opening the door, letting them out, going on about my business and then finding them on the deck waiting for me when I return. 

I can’t wait until it rains! 

Luxury Features in a City House w/In-law or Rental Suite

3871 West 36th St $69,900

CALL (440) 391-1304 FOR DETAILS! Community: Cleveland Subdivision: Brooklyn Center MLS Number: 3389460 Comments: This impeccably maintained colonial in historic Brooklyn Center is a legal single family with an in-law suite and separate utilities. Can be converted. Downstairs has 4 beds/1 bath. Kitchens are huge and all appliances stay, including washer& dryer. In-law suite upstairs features 2beds/1 bath. Both upper and lower have in-suite laundry. Home features large, partially covered deck and hottub in a covered gazebo. Both the upstairs and downstairs tubs are whirlpool tubs and the downstairs shower features a rainhead. Newer windows, roof, cement work, updated kitchens and baths, etc. Never worry about a power outage. Home comes with an auxiliary power generator. Security alarm services provided by ADT. Pride of ownership shows here. Market rents estimated at $575-600 up and $650-700 down.

Listed By: Michelle Stanifer Cell: (440) 391-1304 Russell Real Estate Services 12198 Pearl Road Strongsville, OH, 44136 www.GetListedGetSoldMove.com

The "Self Walk"

Me: It's raining.  Forget chaining the dogs to pee this morning.  They aren't going to want to stay out there.  I'll  just open the door, let them run out back and do their thing; they will be back on the deck wanting in by the time I put on the coffee.

Penny:  It's warm!  It's Spring!  I am not chained to the deck!  Quick, Chloe, where's the warden?  Do you see her?

Chloe:  Checking... nope!  No sight of her.

Penny:  Come on, Red, we're blowing this joint!

Fade in:  Two red dogs running down the street, muscles rippling, hair flowing, big goofy grins on their face, soundtrack to Born Free playing in stereo in their heads.

Cut to:  Stupid look on my face as I approach French doors to find no dogs waiting for me.

And that, my friends, is how the "self walk" happens at our house.

Spring is in the Air

Each day, I open the door to let the dogs out in the frozen tundra of our yard and am grateful I don't pee outside.  Some mornings, I have to push them out because it is just too cold to go.  I feel for them, sincerely.

I live in a suburb, but my yard backs up to the Cleveland MetroParks.  The sound of the woods in the winter is almost silent.  Sometimes there is a rustling but not much else, aside from the traffic that passes down Valley Parkway.  The woods are teeming with animals still, I'm sure, yet it seems the noisy ones are either hibernating or have flown south.  There is not much stirring out there aside from a few deer.  OK, more than a few deer.

This morning is gloomy and grey, but something is different; there is a stirring.  I can faintly hear the river behind us rushing its way to open waters somewhere.  Familiar birds have returned and are squawking, and there seemed to be movement aground, even without any breeze.  Scurrying hungry little critters in the bramble, perhaps?  As I write this, I hear geese.  Geese!

The air seemed to be warmer and the smell was a little different too.  I detected that fresh, oh so Spring-like scent of wet mud.  Warm wet mud that will soon give way to little green things that, after so long of white and brown, are like soft kisses for the eyes.

I wasn't the only one who noticed, either.  Normally, Chloe bounds off the back deck and drops to pee the instant her paws hit the lawn, while Penny daintily prances off the deck to sniff the yard and detect any intruders in the night before relieving herself.  But not today.  As I surveyed the changes and allowed the romance of Spring to swirl in my head, I glanced over and noticed both my girls standing with me on the deck, nostrils flaring, wistful expressions on their furry faces.  I could only guess at the runs, swims, and chases they were imagining.  We are all so ready for the Spring!

To Buy, Then Sell or Sell, Then Buy?

There are, quite obviously, two schools of thought on this subject.  Choosing a new home is an emotional decision.  Many people fear that if they sell their current home first, they will not be able to find their next "dream home" before they close the sale on their current home.  Conversely, many fear that if they make an offer on the home of their choice before selling their current home, they may not be able to sell in time and could end up making two mortgage payments.  Both opinions are valid; however, one is riskier than the other.  

In our real estate market, agents have some tools to assist with either scenario.  The first is the Contingency Clause or Concurrency Clause.  The second is the Subject to Specific Purchase Clause.

Contingency or Concurrency Clause

A Contingency Clause states that a Buyer is making an offer on a new home, but completing the transaction is Contingent upon the sale of his current home.  If another Buyer offers on the Seller's property before the Buyer can sell his own property, he will be given the option to remove the Contingency within a prescribed number of days and move forward with the purchase without regard to the sale of his current home or to release the Seller from the purchase agreement, rendering the agreement null and void.  In this case, all deposits will be returned.

A Concurrency Clause states that both Buyer and Seller will offer their homes for sale Concurrently.  If the Seller finds another Buyer before the Buyer sells his home, or if the Buyer cannot sell his home within the specified time period, the sales agreement immediately becomes null and void and all deposits shall be returned.

PROS:

• Allows a Buyer to make an offer on his dream home while not obligating him to complete the sale if he can't sell his current home.  
• It allows a Buyer to be certain that he will be able to negotiate acceptable price and terms on the home of his choice before committing to sell his current home. 

CONS: 

• Sellers are reluctant to accept a Contingent offer; although still considered an active listing in the MLS for showing purposes, the status must change to Contingent, dramatically reducing showings.  
• In the case of a Contingency, if another offer comes in on the property, you will have a few days (usually 1-3) to remove the Contingency, that is, to perform on the contract regardless of the sale of your current home, or forfeit the property. 
• In the case of a Concurrency, the MLS status remains Active and the home continues to be marketed.  It is a race to sell before the Seller finds another Buyer and the first Buyer forfeits the property.

Subject to Specific Purchase Clause

A Subject to Specific Purchase Clause is when a Seller accepts a Buyer's offer, however the Seller stipulates that he must find an acceptable replacement home within a specified period of time, which will close in conjunction with the sale of his current home.  If the Seller is unable to find a replacement home within the prescribed time per the sales agreement, the Seller is under no obligation to sell his home to the new Buyer.  

PROS:

• Allows a Seller a specified period of time to perform his new home search while retaining a Buyer for his current home.
• With the Seller's current home under contract, the lender can qualify him for a new mortgage up to his maximum buying potential.

CONS:

• A Buyer may be reluctant to sign such an agreement, as this commits him to wait and hope that a Seller will find a suitable replacement property.  

In this instance, a seller still has options.  The Seller can accept the Buyer's offer without the Subject to Specific Purchase Clause, but counter-offering a longer closing period to allow time for his new home search.  Rather than lose a good Buyer in a sluggish market, a Seller may choose to consider a short term rental or even rent back his current home from the new Buyer until he finds the right home.  

Buying before you sell without a any protective clause

This option is one that I have seen many unrepresented and some represented buyers take and it is one that carries several significant risks that must be considered before moving in this direction:

• Lower selling price for your current home.  Selling under duress, which in some cases fits this scenario, often results in lower offers.  I can't tell you how many times I have heard a buyer touring an empty home state that they thought they would get a deal because the home owner has already bought a new home and "needs to sell."  Even if you are still living in the home, an over-zealous listing agent may recommend the terminology "motivated seller" in the listing comments which will often result in a lower offer.  Regardless, when neither the home is vacant nor the agent has compromised your bargaining position, the pressure to accept a low offer for fear of losing the buyer is present.  
• Dual mortgage payments.  Even if you have the income to support it, making dual mortgage payments can be a significant financial strain. Consideration should be given to how such a burden will effect the family's current lifestyle and whether the shift in priorities is worth the risk.  A change in your employment situation, such as a pay-cut or job loss could have a devastating effect.  

Home buying is never one size fits all.  Whichever option best suits your personality type, it is important that you choose an agent that is willing to listen to your wants and needs and one who is well versed regarding protective clauses in the contract to look out for your best interests.