Tag: real estate

Five Reasons To Buy Now Instead Of Spring

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Why you can't afford to wait until SpringWith housing prices and mortgage rates on the decline, now may be the best time to consider purchasing your new home. It may seem like a hassle to consider a major purchase and a move, especially during this year’s exceptionally brutal winter, however there are several reasons why waiting it out might not be in your best interest.

Rising Interest Rates

According to Freddie Mac, Fannie Mae, the National Association of Realtors, and the Mortgage Bankers Association, 30-year mortgage interest rates are projected to be over 5% by February 2015. This increase brings interest rates almost an entire percentage point higher than current market rates.

Dwindling Supply

Inventory in many regions is on the decline. Buyers in markets nationwide are beginning to find that their choices are becoming ever smaller, as the once large assortment of homes continues to decrease.

An Increase in Prices

Homebuyers will find that they are going to pay both a higher price and incur a higher interest rate if they wait until spring. In the long run, higher sales prices and interest rates could mean hundreds of dollars more in a monthly mortgage payment.

Home Ownership Creates Wealth

In a recent study, it was found that the net worth of an average homeowner was 30 times greater than the net worth of a renter. Whether you rent or own, you pay a mortgage. Would you rather pay down your own mortgage or your landlord’s?

Mel Foster Co. Receives Website Quality Certification

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Mel Foster Earns WQC CertificationMel Foster Co. has been awarded the Website Quality Certification (WQC) from Leading Real Estate Companies of the World®, a global network of 500+ real estate firms which presents the certification to member companies that demonstrate best practices in website design and Internet communications.

Mel Foster Co.’s website, www.melfosterco.com , earned the certification after achieving high marks on a range of criteria, including usability and performance, design and content, interactivity, customer service and Internet lead management, search engine optimization and mobile.

Created by LeadingRE in 2009 to recognize member websites that combine high standards for design, technology and service, the criteria for the WQC are updated annually to reflect the latest in internet marketing strategies. The WQC is an optional program available only to firms affiliated with Leading Real Estate Companies of the World® and requires re-certification every two years.

“We are pleased to present the WQC to 124 members this year and commend these firms for creating websites that effectively engage today’s home buyers and sellers by providing relevant information in a compelling way, with the perspective only a local firm can offer,” said Leading Real Estate Companies of the World® President/CEO Pam O’Connor.

“We have received this certification since its inception and it just confirms that we continue to be a real estate leader in using “best practices” in website design and internet communications.  Our new site was rolled out in the fall.  Our website users are experiencing superior results and an excellent customer service experience on our site,” said Mel Foster Co. Lynsey Engels, President Mel Foster Co. Brokerage.

For more information about Mel Foster Co., please visit www.melfosterco.com.

Tips For A Smooth Move

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Mel Foster Co.’s relocation specialists have helped thousands of families relocate to the Quad Cities. Our award-winning staff offers a variety of relocation and real estate services. There is so much to think about and do when planning a move and we can help!

Once you’ve found a home in your new community and set a closing date, contact a mover. Your Mel Foster relocation specialist can help you find moving companies. It’s never too soon to start sorting through your closets and storage areas and determining what you need to keep, donate or throw away.

As you pack up your photos, take a look at your furniture and decide if you need to sell pieces or purchase additional items for your new home. Measure your furniture and consider if it will fit into the floor plan at your new home.

Start a moving paperwork file and find new providers in your community or transfer your records. Be sure to find a new bank, doctor, dentist and vet. Research clubs or civic organizations in your new town and contact the local church to let them know you’re relocating.

About a month prior to your move, check these items off your list:

  • Change your address with the post office and IRS.
  • Forward magazines and newspapers to your new address.
  • Contact utility companies in both your old and new location.
  • Make travel arrangements.
  • Contact your insurance agent in both your old and new location.

With a little planning and help from Mel Foster Co.’s relocation specialists, your next move can be an exciting adventure!

Mel Foster Co. to Host a Career Seminar

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Would you like to be a part of a dedicated, vibrant and growing real estate family that has ten offices in two states with more than 220 agents strong?  A career in real estate provides flexibility and freedom to set your own pace and control your own income.

A career with Mel Foster Co. offers you the chance to be in business for yourself but not by yourself.  You will work with a team of professionals dedicated to helping you achieve your dreams.  Mel Foster Co. will provide you with all the skills and tools you need to enjoy a successful career.

Mel Foster Co. is offering a FREE Career Seminar on Tuesday, August 6th from 5:30 – 6:30 p.m. at our Moline office, located at 2500 41st Street.

Join us and discover the Mel Foster difference!  For reservations or further information contact Margaret Beetz at 563.823.2237 or mbeetz@melfosterco.com. Come and discover how you really can have a financially rewarding career that make a difference in people’s lives, including your own.

Relocation Directors Council®

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Lynsey Engels, President of the Real Estate Brokerage Division at Mel Foster Co. Inc., is pleased to announce that their Director of Residential & Corporate Relocation, Deb Boland, attended the Relocation Directors Council®  (RCD)’s annual Spring Event.

This year’s conference theme was “In Charge of Change Defining Our Future” and held in San Diego, California in May.

Over 120 relocation professionals from across the country gathered to participate in continued educational training, as well as networking with top industry leaders.  Panelists from Relocation Management Companies and RDC’s Advisory Councils addressed today’s topics pertinent to those who manage mobility, domestically and globally.

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.

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.


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