Author: Mel Foster Co.

Mel Foster Co. Names New President of Brokerage Division

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Mel Foster Co. is pleased to announce Lynsey Engels has been named the President of the Real Estate Brokerage Division effective May 1, 2013.
As president, Engels will oversee the company’s ten real estate offices and the relocation division.  She will also be involved in mergers and acquisitions, training, and agent recruiting and retention.
During the last six months, Engels has transitioned from her position as an agent to assume general manager responsibilities.  As an agent, her efforts led to numerous multi-million dollar producer status recognitions in Mel Foster Co.’s Executive Club and Chairman’s Club.  Engels spent 10 years in residential real estate with eight of those working as a team with her sister, Kristi McFate.  A licensed broker in Iowa and Illinois, Engels specialized in new construction and relocation services and was adept at working with first-time home buyers.
Engels is a member of the National Association of REALTORS®, the Iowa Association of REALTORS®, the Illinois Association of REALTORS®, and the Quad City Area REALTOR® Association, where she currently serves on the organization’s board of directors.  She is a member of the Quad City Chamber of Commerce and has served in various leaderhship roles for Junior League of the Quad Cities.  She has been a volunteer for Make a Wish, Junior Achievement, and high school-aged volleyball teams and was named a Leader Under 40 in 2007.  Engels graduated from Purdue University where she was an academic All Big Ten athlete and captain of the tennis team.
Rob Fick, Chairman and CEO of Mel Foster Co., Inc., proudly announced, ‘I am confident Lynsey’s expertise and enthusiasm will enhance our strategic vision to provide more valuable leadership experience to our managers, agents and staff.  Her attention to detail and passion for success will continue to raise the standard of excellence and leadership in our company.”
Engels and her husband, Marc, reside in Bettendorf and have three daughters.

10 Ways To Sell Your Home Fast

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You need a fast sale for the maximum profit. Do these 10 easy things to make your home move quickly.

1. Let go of your emotions and accept that your home is now a house that you want to sell quickly at a profit.

2. Pack up your family photos, knickknacks and books. You want buyers to see clean shelves and surfaces where they can imagine their items.

3. Organize your closets and cabinets. Buyers are going to snoop.

4. Remove any extra furniture that makes your home look like it’s small.

5. Scrub your house from top to bottom. This includes the outside and those areas you can’t easily reach.

6. Shampoo your carpet and area rugs. Pet odors and smoke are a turn off to potential buyers.

7. Make minor repairs. Turn every knob, open every window and cabinet. Tighten anything that’s loose, patch holes and replace any broken tiles or glass.

8. Give your catch all room a purpose. Your spare room/office/craft room/playroom needs to serve a single purpose when buyers come through.

9. Make your home look inviting from the curb. Keep landscaping in top condition. Check that curtains are even from a curbside view. Remember that a buyer can drive by at any moment.

10. Keep up with the cleaning and clutter daily. Doing a quick pick up or clean up of the house every night before bed means your house is always ready for a showing.

Mel Foster Co. Receives Relocation Recognition

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Lynsey Engels, General Manager, Real Estate Division at Mel Foster Co. Inc. is pleased to announce that their Relocation Division, led by Deb Boland, has been recognized as a recipient for the 2012 Global Alliance Club by Leading Real Estate Companies of the World®.

Leading Real Estate Companies of the World® is a global network of over 500 premier real estate firms with 4,600 offices and 140,000 sales associates in 30 countries around the world.  Our members dominate the US list of top 500 real estate firms.  Leading RE is comprised of select independent real estate companies who set the standard of quality service, while generating a highest volume of referral, relocation, and real estate business opportunities for its members.

Mel Foster Co.’s Relocation Department is one of 43 real estate companies to receive this honor.  In order to be a part of this prestigious club, at least one referral must be sent and closed across country borders.  The referral was to Canada, therefore Mel Foster Co. can make it happen anywhere.

Say what?

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Feel like everybody’s speaking a different language when it comes to real estate? Get into the conversation and get comfortable understanding what’s being said. This short glossary helps buyers and sellers navigate industry terms.

Appraisal – the determination of the worth of something by a professional, in this case the market value of a property. An appraiser uses an analysis of local market data along with the characteristics of the property. Your bank or other lender may refuse to loan you money if the appraisal price is lower than the loan request.

Closing costs – the entire package of miscellaneous expenses paid by the buyer and the seller when the real estate deal closes. These costs include the brokerage commission, mortgage-related fees, escrow or attorney’s settlement charges, transfer taxes, recording fees, title insurance and so on. Closing costs are generally paid through escrow. Jump ahead if you’re lost after “escrow.”

Contingency – conditions that have been built in to a real estate purchase or sale agreement must be met before the sale can be completed and legally binding. For example, a buyer’s contractual right to obtain a professional home inspection before purchasing the home.

Disclosures – The seller is required to provide the buyer with certain information (disclosures). The number and types of disclosures vary by region, but they may include information about conditions affecting the value or enjoyment of the property. The seller may know of an earth-shaking construction project that is about the start around the corner, which would impact the enjoyment of the property.

Escrow – Funds, securities or other assets held by a neutral third party (an escrow company or agent) on behalf of the other two parties (in this case the buyer and the seller). The buyer will deposit the payment in an escrow account, proving to the seller that he or she will be able to uphold the other end of the deal. The escrow service will pay the funds to the seller once certain conditions pertaining to the sale have been met.

MLS – Multiple Listing Service. An MLS is an organization that collects, compiles and distributes information about homes listed for sale by its members, who are real estate brokers. All properties for sale are assigned an MLS number.

Mortgage – A loan that helps you purchase your house. You sign a contract promising to pay back the loan with interest over a certain number of years. The components of your monthly mortgage payments may be referred to as PITI:  principal (the money that goes into paying down the loan), interest (which is paid to the lender for letting you borrow the money), (property) taxes and (homeowner’s) insurance.

Shedding Light On The Situation

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That gold chandelier above the dining room table and the globe light bulbs around your bathroom mirror need to go. Breathe some new life into your home with updated lighting fixtures. Over a weekend your home can go from frumpy to fabulous.

Kitchen
Think about some funky colored or shaped pendant lights above the island or sink. Pendants give you a chance to bring some personality into your kitchen. Don’t get hung up on how many inches your light needs to be from the surface. Just eyeball it with somebody’s help and do what looks right to you.

Living Room
The track lighting that accents your fireplace can be replaced with recessed lights, angled to still cast light on your artwork or family photo. Recessed lighting bulbs are much smaller now and LEDs are efficient and long lasting.

Bathroom
Who says a chandelier only belongs in the entryway or dining room! Add some bling to your bathroom with a sparkly chandelier. Options that are glass or even plastic are less expensive than crystal options and much lighter.

Bedroom
Install a dimmer on your main overhead light to set a romantic mood or help you unwind before bedtime. A light with an adjustable level is also great in the morning so you aren’t blasted with bright light as soon as your day begins.

If you’ve never installed a light fixture, count on a friend to show you the way or read the instructions all the way through before taking down the old fixture. And always be sure to shut off the power at the electrical box before you start.

What’s hiding behind those walls?

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A well-staged house might be hiding a dirty little secret. Black mold. Fire damage. Shoddy home improvements. Pet stains below the carpet. You can’t always tell the true condition of a home just by walking through, but it’s hard to hide damage from a home inspector.

If you are buying a home, getting a home inspection is one of the single-most important “checks” you need to conduct to make sure the home is safe and secure. An inspection can be several hundred dollars, but uncovering what lies within before you own the house has several advantages.

  1. Peace of mind – you’ll know moving in the actual condition of your new home.
  2. Negotiation tool – if there are issues that need to be corrected, you can lower your offer price or ask the seller to fix the problems prior to closing.
  3. Easy out – if the inspection reveals issues that are too big or unsettling, you can opt out of buying the house.
  4. Plan for the future – the inspection may reveal minor updates that don’t pose safety issues that you may be able to address down the road.

The inspector will take several hours to fully inspect a home. You may be able to be in the home while the inspector works. If not, you should receive a detailed report that includes plumbing, electrical, mechanical and roof analyses. You inspector can usually tell you how many years you can wait before replacing a roof or major appliances or mechanicals including hot water heater and air conditioning unit. You might also be required to have a termite inspection.

Purchasing a home is one of the biggest financial investments you’ll make. Take the extra step to have an inspection and protect yourself from moving into a money pit.

Go In As A Winner

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Making an offer is a huge commitment and you need an agent on your side to come up with terms and an offer price. You might know how much house you can afford, based on your loan pre-approval, but knowing how much you should pay is a different story.

Your agent is an expert in local market conditions and has data to help you settle on a fair offer price. Reviewing comparable properties that have sold in the neighborhood is a solid tool to determine your offer price. This information is readily available to your agent.

Sellers have a reason for wanting, or needing, to sell their home. By asking the right questions during an open house, you can get a good feel for what will motivate the seller to accept your offer. Your Mel Foster Co. agent can help you prepare questions in advance to determine if price, timing or contract terms are most important to the sellers. This knowledge will give you leverage when negotiating.

Once you make the offer, it is customary to leave earnest money with the seller or seller’s agent. In a seller’s market, the buyer should put down a solid deposit to entice the seller to accept their offer. On the other hand, if it’s a buyer’s market, a larger earnest money deposit may prompt the seller to accept a lower purchase price.
Your agent is your advocate, looking out for your best interest to make sure you don’t overpay for a property or agree to terms out of fear of losing the house of your dreams. Rely on your agent to make sure you come to the table with a winning offer the sellers will accept.

Mel Foster Co. Nominated for Performance Awards

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Lynsey Engels, General Manager, Real Estate Division at Mel Foster Co. Inc., is pleased to announce that their Relocation Division, led by Deb Boland, has been nominated by Leading Real Estate Companies of the World® for two 2012 Awards.  Mel Foster Co. is one of five real estate companies nominated for these awards in their size category.  The two nominations include:

  • Award of Excellence – Referral Production – determined by the number of outgoing referrals
  • Award of Excellence – Sales Production – determined by the number of outgoing closings

The awards will be presented during the Annual Performance Awards Dinner and Ceremony in Las Vegas later this month.  For the past 18 years, Mel Foster Co.’s Relocation Division has been nominated for an award from Leading Real Estate Companies of the World®.

Leading Real Estate Companies of the World® is a global network of over 500 premier real estate firms.  Leading RE is comprised of select independent real estate companies who set the standard of quality service, while generating a highest volume of referral, relocation, and real estate business opportunities for its members.  Mel Foster Co. has been with the prestigious affiliation for 20 years.

Mel Foster Co. Color the Quads Sold Out

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Only six weeks after opening registration for the Color the Quads race, the 5K and Kids’ Color Dash are sold out.  Three thousand participants have registered for the 5K and 250 are expected for the Kids’ Color Dash.  Mel Foster Co. is the presenting sponsor for the events, unique races that allow runners and walkers to get blasted with bursts of color powder on the course.

The Color the Quads 5K will take place Saturday, June 1 at 4:00 p.m., Cumberland Square at 2300 Spruce Hills Drive, Bettendorf, Iowa.  Spectators are welcome to watch the races and show their support for two local charities.
The 2013 Color the Quads benefits two local organizations, the YMCA Youth Solutions and Camp Abe Lincoln and the Children’s Therapy Center of the Quad Cities.  The event brings colorful happiness to our community AND helps out local charities.
The event’s Color Explosion and Color Burst sponsors include:  Mel Foster Co., Orthopaedic Specialists, Pear Advertising, Terrostar, Vollertsen, Britt & Gorsline P.C., Valley Bank, Gomez May LLP, Radon Solutions, Hawkeye Paving, Quad City Times, TMI – Total Maintenance Inc., Build to Suit, and Russell Construction.  The after party sponsor is Tri-City Electric Co.
Become a volunteer or a sponsor at www.colorthequads.com.

Mel Foster Co. Iowa Finance Announce New Program

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The Iowa Finance Authority (IFA) today joined American Bank &Trust in Davenport and area lenders and REALTORS® to urge participation in the Home in Paradise Contest, a statewide social media contest, and to announce a new Take Credit! mortgage credit certificate program.  Both initiatives share the goal of continuing the upward trend in Quad City area home sales, which are currently 7.5 percent above this time last year, according to the Quad City Area REALTOR® Association.

“We’re excited to be offering this fun winter contest as a way to increase awareness as to the benefits of home ownership,” said Iowa Finance Authority Executive Director Dave Jamison.  “With a new Take Credit! mortgage credit certificates program offered at local lender locations throughout the state, many more Iowans may be assisted in meeting their goals of home ownership, while having a little fun.”
Take Credit! is a new mortgage credit certificate program that may assist eligible home buyers by reducing their household’s federal tax liability every year for the life of their mortgage.  Fifty percent of the homeowners’ mortgage interest becomes a tax credit that can be  deducted dollar-for-dollar from federal income tax liability, up to a maximum of $2,000 annually.  The program is offered through a network of participating lenders throughout the state.
The Home in Paradise social media contest asks Iowa mortgage lenders and REALTORS® to ask their clients for help by showing what “home in paradise”  means to them.  Participants will be photographed in their home in paradise for their chance to win an Iowa vacation getaway to Honey Creek Resort.  Iowans are encouraged to visit participating contest locations for their chance to win.
A full list of current contest locations i available at Foursquare.com/IowaFinance.  Contest entries will be voted on by the public in April at Facebook.com/IowaFinance.  The entry with the most votes will receive an Iowa vacation getaway package and the lender and REALTOR® with the most combined votes will each receive a $1,500 community betterment grant and four golf passes to Honey Creek Resort.  Any Iowa lender or REALTOR® may sign-up to participate, and is encouraged to do so by visiting IowaFinanceAuthority.gov/Contest.
“This contest is a wonderful opportunity for our clients, agents and the general public to show what a home in paradise means to them,” said Eugene Holst with Quad City Area REALTOR® Association.  “The contest is open to everyone, and we hope that people have fun with it.”  Chuck Sorensen of American Bank & Trust said, “The Iowa Finance Authority has been an integral partner in providing home ownership opportunities for Iowans, through programs like Take Credit!, and we look forward to working together to assist more Iowans and keep home sales up over the winter months through this innovative contest,”


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