1. 5 Real Estate Resolutions.

2. 1. Owners: Accelerate paying your mortgage
off. During the bubble era, many homeowners
were comfortable with, so long as they could afford
the payment. It was not unusual for homeowners to
refi their mortgages every year, pulling cash out for
everything from cars to college tuition. After the
burst, homeowners who have witnessed friends
and neighbors lose their homes are exhibiting a
new level of interest in paying their homes off - all
the way off.

3. 2.Renters: Renegotiate your rent. Most resolution-
setters looking to save more cash start with cutting
out their daily latte and canceling cable. But
housing is your largest expense; saving there
can be the equivalent of
cutting out dozens of lattes –
in one fell swoop. If you are
seeing rents in your building
or around town that make
yours seem high, and find the
rents currently being charged are lower than yours,
these are good signs you might be paying above-
market rent. If that's the case and/or if you see a
high number of vacancies in your building, you
should have no qualms about contacting your
landlord and renegotiating your rent.

4. 3. Sellers: Create urgency for buyers, and get your
home sold. If your home lingered on the market
last year, you may need to
take the bull by the horns
to get it sold this year. Cut
your price to a level slightly
below the recently sold
comparables; even if you've
cut the price before, this can create a pricing "sweet
spot" where buyers recognize the value and get
concerned that such a good deal won't possibly
last. Same with condition - primp and spruce your
home so that it shows so much better than the
other homes in your area that buyers will see that
they feel compelled to leap off the fence.

5. 4. Buyers: Qualify for a mortgage to buy a home. Many
would-be buyers have mentally disqualified
themselves, despite the great economic climate for
buying a home, because they have heard it is so difficult
to get a mortgage. The fact is, with a 620 credit score and
a 5 percent down payment (plus closing costs, in some
cases), an insured loan can finance the purchase of your
home. Start with the basics – pull your credit reports
from Equifax.com and check them
for errors, following the
instructions to dispute any
inaccurate information that
might drag your score down.
Don't talk yourself out of even
applying for a home loan; instead,
get a professional's opinion about your
purchasing power and their help in getting
yourself ready to buy.

6. 5. Owners: Pay your property taxes. Coming out
of the recession, many a cash -crunched
homeowner has held onto their homes by the hair
on their chinny-chin-chin, through job
losses, reduced income and rising mortgage
payments. There's a major contingent who have
been able to keep their mortgage current, but have
fallen behind on their property taxes. I know this is
tough, because you'll have to start paying your
current taxes, plus chip away at the back taxes, but
it is possible - just treat it like any other financial
project and start devoting whatever you can to the
delinquent taxes on a monthly basis. Also, make
sure you have budgeted a monthly savings amount
to cover your current taxes, even if you only pay
them twice a year, to avoid falling further behind.

7. What resolution have you made this
year?

8. Randy Bett
Investment Realtor/Author/Investor
Real Estate Professionals Inc.
Better Group Real Estate
202-5403 Crowchild Trail NW
Calgary, AB T3B 4Z1
Phone:403-774-7464 Ext:1
Fax:403-208-0082
Toll Free fax:888-711-6801

9. Randy Bett
www.BetterGroupRealEstate.ca