Living in Luxury Just Became More Attainable!

Do you dream of waking up and having your yacht docked outside your back door in the crystal blue waters of the Caribbean?  Then the Residences at Yacht Haven Grande are the answer.  Call us to learn about the new pricing structure on the twelve luxury Residences at Yacht Haven Grande at St. Thomas, USVI.  For more information, please contact jennie@seaglassproperties.com or www.seaglassproperties.com.  For more information about this exciting property go to, http://www.yachthavengrande.com/index.php?sv_path=4504.  There are also opportunites to berth your yacht, inquire within.

6 Landscaping Tricks That Wow Buyers

In today’s market, sellers have to work harder to persuade buyers that their property is worth the bite.   Landscape designer Michael Glassman has cooked up a recipe for guaranteed curb appeal.

1. Add splashes of color. With every changing season, a landscape should provide a new display of colors, textures, and fragrances. “It’s best to use one or two and repeat them,” Glassman says. Example: white iceberg roses that bloom in spring, summer, and fall as a backdrop; in front, a contrasting punch of purple salvia or lavender that will flower at the same time; and as an accent, a crape myrtle tree that provides changing leaf colors in fall and interesting branches come winter.

 2. Size trees and shrubs to scale. These should be planted in the right scale for the house so that they don’t block windows, doors, and other architectural features on the home’s facade. A large two-story house can handle a redwood, Chinese pistache, sycamore, or scarlet oak, but a one-story cottage is better paired with a flowering cherry, crabapple, or eastern redbud. Too many trees cast too much shadow and cause potential buyers to worry about maintenance and costs.

3. Maintain a perfect lawn. A velvety green lawn demonstrates tender loving care, so be sure sellers’ homes don’t have brown spots. Some rocks, pebbles, boulders, drought-tolerant plants, and ornamental grasses will generate more kudos, especially in drought areas.

4. Light up the outside. Good illumination allows buyers to see a home at night and adds drama. Sellers should use low-voltage lamps to highlight branches of specimen trees, a front door, walk, and corners of the house. But less is better. The yard shouldn’t resemble an airport runway.

5. Let them hear the water. The sound of water appeals to buyers, and you shouldn’t just reserve this for your backyard. A small fountain accented with rocks provides a pleasant gurgling sound, blocks street noise, and is affordable.

6. Use decorative architectural elements. A new mailbox, planted window boxes, and a low fence wrapped in potato vines add cachet, particularly during winter months when fewer plants blossom. Colors should complement the landscape and home.  Just don’t overdo it:   Too much can seem like kitschy lawn ornaments.

It you are looking to buy, sell, lease or vacation in the US Virgin Islands let Jennie at Sea Glass Properties make your real estate transaction smooth sailing.  You may contact Jennie at jennie@myseaglassgirl.com, or go to www.myseaglassgirl.com. 

Source: Michael Glassman, landscape designer, Michael Glassman and Associates, Sacramento, Calif., www.michaelglassman.com

Take the Stress Out of Homebuying

My philosophy is, buying a home should be fun, not stressful. As you look for your dream home, keep in mind these tips for making the process as peaceful as possible.

 

1. Find a real estate agent who you connect with. Home buying is not only a big financial commitment, but also an emotional one. It’s critical that the REALTOR® you chose is both highly skilled and a good fit with your personality.

2. Remember, there’s no “right” time to buy, just as there’s no perfect time to sell. If you find a home now, don’t try to second-guess interest rates or the housing market by waiting longer — you risk losing out on the home of your dreams. The housing market usually doesn’t change fast enough to make that much difference in price, and a good home won’t stay on the market long.

3. Don’t ask for too many opinions. It’s natural to want reassurance for such a big decision, but too many ideas from too many people will make it much harder to make a decision. Focus on the wants and needs of your immediate family — the people who will be living in the home.

4. Accept that no house is ever perfect. If it’s in the right location, the yard may be a bit smaller than you had hoped. The kitchen may be perfect, but the roof needs repair. Make a list of your top priorities and focus in on things that are most important to you. Let the minor ones go.

5. Don’t try to be a killer negotiator. Negotiation is definitely a part of the real estate process, but trying to “win” by getting an extra-low price or by refusing to budge on your offer may cost you the home you love. Negotiation is give and take.

6. Remember your home doesn’t exist in a vacuum. Don’t get so caught up in the physical aspects of the house itself — room size, kitchen, etc. — that you forget about important issues as noise level, location to amenities, and other aspects that also have a big impact on your quality of life.

7. Plan ahead. Don’t wait until you’ve found a home and made an offer to get approved for a mortgage, investigate home insurance, and consider a schedule for moving. Presenting an offer contingent on a lot of unresolved issues will make your bid much less attractive to sellers.

8. Factor in maintenance and repair costs in your post-home buying budget. Even if you buy a new home, there will be costs. Don’t leave yourself short and let your home deteriorate.

9. Accept that a little buyer’s remorse is inevitable and will probably pass. Buying a home, especially for the first time, is a big financial commitment. But it also yields big benefits. Don’t lose sight of why you wanted to buy a home and what made you fall in love with the property you purchased.

10. Choose a home first because you love it; then think about appreciation. While U.S. homes have appreciated an average of 5.4 percent annually over from 1998 to 2002, a home’s most important role is to serve as a comfortable, safe place to live.

 

I firmly believe in this home buying philosophy, so if you are looking to buy or sell property in the US Virgin Islands, please contact me for a free consultation.  Jennie@myseaglassgirl.com, or www.myseaglassgirl.com.

 

 

6 Tips for Home Owners Who Turn Into Landlords

 Home owners who decide to rent out their properties have to stop thinking of themselves as home owners and instead consider themselves as running a small business, experts say. Thinking like a businessperson means focusing on the monthly cost of maintenance, mortgage and taxes, as well as being aware of landlord-tenant regulations and avoiding liabilities.   Here are key issues to consider:

Set a fair rent.   Setting the right price will make it more likely that a landlord will be able to keep the place rented.

Understand landlord-tenant rules.   Running afoul of landlord-tenant regulations and rules regarding security deposits can be costly.

Screen applicants.   Eliminating potential tenants who can’t pay or who won’t take care of the property is very important.

Lay out the rules in a lease.   Widely available sample leases can help.   If you have questions, ask an attorney.

Consider a property manager.   Despite the expense, turning the job over to experts can help a landlord come out ahead.

Talk to the condo association.   If the property is a condominium, be prepared to deal with a host of regulations.

If you are considering renting your home or condo in the US Virgin Islands, consider Sea Glass Properties for the job.  We’ll take the stress out of screening applicants, creating a sound lease agreement, to collecting rent.  Contact Jennie today, at jennie@myseaglassgirl.com.  www.myseaglassgirl.com

When Will Home Prices Bottom Out?

Housing prices will hit bottom in the fourth quarter of 2009, predicts Moody’s Economy.com in a new report.

“Despite the darkening national economic outlook and the weak conditions in the housing market, some positive signs give hope that a bottom in the housing market is coming into view,” the report says.

On average, home prices will decline 36 percent from the peak in the first quarter of 2006, the report says.

By the end of the housing downturn, nearly 62 percent of the nation’s 381 metropolitan areas will have experienced double-digit-percent declines in house prices, peak-to-trough, says the report.

The declines will exceed 20 percent in about 100 metro areas, according to the report, scheduled to be discussed in a Webcast on Thursday.

The recovery will be “lackluster,” the report continues.

“A number of uncertainties in both the housing and economic outlooks remain, and the risks tilt to the downside,” says Moody’s Economy.com Chief Economist, Mark Zandi.

If looking to buy or sell real estate in the US Virgin Islands, Sea Glass Properties is your answer.  Sea Glass Properties is a full-service, boutique real estate firm located on the waterfront boardwalk of Yacht Haven Grande located in St. Thomas, USVI.  Contact Jennie at jennie@seaglassproperties.com, or www.seaglassproperties.com, or www.sellvi.com.

Source: The Wall Street Journal, James R. Hagerty (02/06/09)

Color Psychology: Choose the Right Color for Your Listings

For years, psychological research has been offering insights into how the brain reacts to color choices. Such research is often tapped by the marketing field in making products more desirable to buyers.

Can these same studies be applied to motivating such big purchases as a home? It’s a leap, but at a subconscious level, certain colors on walls may evoke buyers who enter a home to feel more welcoming and even warmer (which may be particularly nice for rooms in chilly areas of the home).

A recent study by lead researcher Juliet Zhu of the University of British Columbia found that red seems to improve attention to detail. (The findings appeared this month in the journal Science.)  The researchers speculated that we’re taught at a young age that red means danger so red might slow us down and prompt us to zoom in on details (so would that make it a good choice for, say, surrounding the fireplace or to bring out other key details in your listing?).

While color preferences and psychological responses vary, research has revealed some of the following commonalities, according to The Rohm and Haas Paint Quality Institute and Architects Design Group (also included below is suggestions of what rooms the color may work best in).

• Red: Increases energy and heart rate, creates excitement and stimulates the appetite. Best for: Dining rooms

• Orange: Adds comfort, warmth, and cheerfulness and too much can bring about feelings of cautiousness. Best for: Living rooms and family rooms

• Yellow: Brightens mood and promotes welcoming and joyful feelings; increases positive thinking. Best for: Poorly lit foyers and dark hallways; buttery shades of yellow for living rooms

• Green: Most restful color. Reduces nervous system activity and muscular tension, calms and relaxes, offers reminders of nature. Best for: Living rooms (light greens); accent for kitchens and dining rooms (midtones).

• Blue: Promotes feelings of calmness, security, tranquility, and cleanliness; lowers blood pressure, cools a room, and serves as an appetite suppressant. Best for: Bedrooms or any restful, peaceful area in a home.

• Purple: Boosts creativity, imagination, and meditation, but can have unpleasant subconscious responses. Many adults dislike purple walls, particularly lighter shades of purple that are perceived as more youthful. Best for: Children’s bedrooms and play areas.

If you are currently considering listing your home or property for sale in the US Virgin Islands, let Sea Glass Properties assist you in a successful real estate transaction.  Sea Glass Properties is a full-service, boutique real estate firm located on the waterfront boardwalk of Yacht Haven Grande in beautiful St. Thomas, USVI.  Contact Jennie at jennie@seaglassproperties, or www.seaglassproperties.com, or www.sellvi.com.

February 16, 2009 By Melissa Dittmann Tracey

5 Tips for Homebuyers Seeking a Mortgage

Here’s a warning for potential borrowers: Nervous lenders have tough new rules and are paperwork crazy. “Borrowers are going to have to prove they are the borrower they say they are,” says Keith Gumbinger, vice president of HSH Associates, a mortgage-industry publisher in Pompton Plains, N.J. Gumbinger says homebuyers should consider these things before they apply for a loan.

1. Down payments are critical. Borrowers should expect to put down at least 10 percent for a “conforming loan” – a mortgage that Fannie Mae and Freddie Mac will purchase.

2. Credit scores count. A 720 on the 850-point FICO rating scale will get a borrower access to the best rates. Rich Bira, branch manager of FCM Direct Lender in Chicago, says: “A score between 720 and 739 gets 0.125 percent added to the rate, a score between 700 and 719 gets 0.375 percent added to the rate, and a score between 680 and 699 gets 0.5 percent added to the rate.”

3. Consider VA and FHA. Borrowers without down payments or with less than stellar credit scores should consider these government-insured loans offered through the Federal Housing Administration of the Veterans Administration.

4. Unearth the records. Before applying, borrowers should organize tax, banking and other records that prove income, savings and debts. They should also expect to be patient about what may seem to be endless requests for information.

 5. Get rid of debts. Limiting debts, including what borrowers expect to pay for the mortgage, to less than 43 percent of gross income is important.

If looking to buy or sell a home in the US Virgin Islands, Sea Glass Properties is your answer.  We are a full-service,  boutique firm located on the waterfront boardwalk in Yacht Haven Grande, located in beautiful St. Thomas, USVI.  Contact Jennie of Sea Glass Properties at jennie@seaglassproperties.com, or www.seaglassproperties.com, www.sellvi.com.  

Source: Chicago Tribune, Mary Umberger (02/15/09)

Selling Your Home? Simple Tips That Lead to Better Home Showings

Simple Tips for Better Home Showings

 1. Remove clutter and clear off counters. Throw out stacks of newspapers and magazines and stow away most of your small decorative items. Put excess furniture in storage, and remove out-of-season clothing items that are cramping closet space. Don’t forget to clean out the garage, too.

2. Wash your windows and screens. This will help get more light into the interior of the home.

3. Keep everything extra clean. A clean house will make a strong first impression and send a message to buyers that the home has been well-cared for. Wash fingerprints from light switch plates, mop and wax floors, and clean the stove and refrigerator. Polish your doorknobs and address numbers. It’s worth hiring a cleaning service if you can afford it.

4. Get rid of smells. Clean carpeting and drapes to eliminate cooking odors, smoke, and pet smells. Open the windows to air out the house. Potpourri or scented candles will help.

5. Brighten your rooms. Put higher wattage bulbs in light fixtures to brighten up rooms and basements. Replace any burned-out bulbs in closets. Clean the walls, or better yet, brush on a fresh coat of neutral color paint.

6. Don’t disregard minor repairs. Small problems such as sticky doors, torn screens, cracked caulking, or a dripping faucet may seem trivial, but they’ll give buyers the impression that the house isn’t well-maintained.

7. Tidy your yard. Cut the grass, rake the leaves, add new mulch, trim the bushes, edge the walkways, and clean the gutters. For added curb appeal, place a pot of bright flowers near the entryway.

8. Patch holes. Repair any holes in your driveway and reapply sealant, if applicable.

9. Add a touch of color in the living room. A colored afghan or throw on the couch will jazz up a dull room. Buy new accent pillows for the sofa.

10. Buy a flowering plant and put it near a window you pass by frequently.

11. Make centerpieces for your tables. Use brightly colored fruit or flowers.

 12. Set the scene. Set the table with fancy dishes and candles, and create other vignettes throughout the home to help buyers picture living there. For example, in the basement you might display a chess game in progress.

13. Replace heavy curtains with sheer ones that let in more light. Show off the view if you have one.

14. Accentuate the fireplace. Lay fresh logs in the fireplace or put a basket of flowers there if it’s not in use.

15. Make the bathrooms feel luxurious. Put away those old towels and toothbrushes. When buyers enter your bathroom, they should feel pampered. Add a new shower curtain, new towels, and fancy guest soaps. Make sure your personal toiletry items are out of sight.

 16. Send your pets to a neighbor or take them outside. If that’s not possible, crate them or confine them to one room (ideally in the basement), and let the real estate practitioner know where they’ll be to eliminate surprises.

17. Lock up valuables, jewelry, and money. While a real estate salesperson will be on site during the showing or open house, it’s impossible to watch everyone all the time.

18. Leave the home. It’s usually best if the sellers are not at home. It’s awkward for prospective buyers to look in your closets and express their opinions of your home with you there.

If buying or selling property in the US Virgin Islands, let the team at Sea Glass Properties assist you in making it a successful and pleasant transaction.  Contact Jennie, jennie@seaglassproperties.com, or www.seaglassproperties.com.

7 Common Credit Report Mistakes

7 Common Credit Report Mistakes

By Patrick Ritchie

In Part II of our report on improving consumer credit, you’ll learn how to spot damaging errors on a credit report.

Consumers see the ads in the newspaper and read the signs nailed to telephone poles: “Credit problems? We erase bad debt.” It sounds so easy. Just call the phone number and pay a fee, and your credit woes will disappear.

 

The reality is that bad credit does not vanish by paying someone to remove it. Are there legitimate credit repair organizations out there? Sure, and they can help remove inaccurate information from credit reports. But even they can’t get rid of correct information, however damaging it may be.

 

When it comes to outright mistakes on their credit report, though, it’s imperative that consumers have them fixed—whether they hire an agency or do it themselves.

 

The first step in fixing credit report errors is to identify what’s wrong. Consumers have to obtain a copy of their credit report (everyone is entitled to one free report per year from each of the three credit bureaus: Experian, Equifax, and TransUnion) and review it for accuracy. Look for:

 

• Late payments. There should be no late payments over seven years old on the report. This is important, as approximately 35 percent of a credit score is based on timely payments.

 

• Collections. The report shouldn’t show any collections or charge-offs more than seven years old. It’s a good idea for consumers to save copies of their credit report for seven years so they have proof of when an item was added.

 

• Payment records. All paid-in-full installment loans and all collections that have been paid in full or settled for less than the amount due should show a zero balance. Sometimes collections are not updated after they’ve been paid or settled.

 

• Mysterious accounts. Consumers should be able to recognize all accounts listed on the report. Incorrect accounts do sometimes appear, either by mistaken identity or by identity theft. Consumers should contact the creditor immediately to compare their name and Social Security number with the one shown for the incorrect amount. In the case of an incorrect collection, consumers may have to request a “validation of debt,” or what is sometimes called a “media packet,” which provides details on the account holder. If the account is a case of identity theft, the consumer should request a fraud affidavit from the creditor. It’s also a smart idea to file a police report.

 

• Original dates. Length of credit history is 15 percent of a credit score, so consumers should be sure the original dates they opened their accounts are accurate. Original account dates could be reported inaccurately if a credit card company is acquired or merged, or if a credit card is reported lost or stolen.

 

• Available credit. Credit limits on the credit report should match up with credit card statements. It’s best to keep balances under 50 percent of the available limit; less than 30 percent is even better. Debt accounts for 30 percent of your score.

 

• Types of accounts. Sometimes accounts are not categorized correctly. A home equity line of credit should be listed as a second mortgage, not just a line of credit. If the account type is not reflected properly, consumers should contact the creditor.

 

• Reason codes. Consumers should read what the credit bureau has to say about why their score is what it is. These so-called “reason codes” appear in the credit report to explain what factors played into the credit score and what actions can be taken to improve the score over time. One caveat: If a consumer already has a good credit score, ignore the reason codes, as making changes could actually result in a lower score.

 

One last word of advice for consumers: Think twice before closing that credit card, which shrinks the available credit listed on your report and hurts the credit utilization ratio.

 

The key to good credit is being proactive in reviewing credit reports regularly. If consumers find their credit score is a respectable 680 or higher, removing minor dings may not be worth the effort. Otherwise, finding and eliminating errors is one way to get the high credit rating they deserve.

 

For more, including tips on how to avoid credit repair scams, read Part 1 of this report, Rx for Consumers’ Credit.  Writer Patrick Ritchie is the author of the book The Credit Road Map, which is available at REALTOR.org/store. He can be reached at 480-203-4641 or Patrick@thecreditroadmap.com.

 

Note: This column provides general information only. Tax laws change frequently and are not intuitive. Information is not provided as advice for a specific matter, nor does its publication create an attorney-client relationship. Laws vary from one state to another. For advice on a specific matter, consult your attorney and CPA.

If in the market to buy or sell property in the US Virgin Islands, let Sea Glass Properties assist you in making your dream transaction a reality.  Contact Sea Glass agent Jennie Rosenberg at jennie@seaglassproperties.com, or visit www.seaglassproperties.com and www.sellvi.com. 

4 Tips to Getting a Home Loan

These days one of the biggest impediments to closing a real estate sale can be the buyer’s ability to get a mortgage.

Here are some tips for anyone who hopes to land a loan:

• Turn to the government. The biggest source of loans these days is the Federal Housing Administration (FHA) and the Veterans Administration (VA). These programs accept borrowers with lower credit scores and allow them to put down as little as 3.5 percent of the purchase price.

• Document, document, document. Borrowers will need bank statements, brokerage statements, W-2 forms and tax returns.

• Boost credit scores. Borrowers should avoid having more than one-third of their maximum borrowing capacity outstanding on one credit card. If necessary, rotate the debt among several cards.

• Work your connections. Comparison shopping is easy online, but if your customer has an established relationship with a local bank, suggest they try that lender first.

If looking to purchase a home or property in the US Virgin Islands, let the team at Sea Glass Properties assist you!  Contact Sea Glass agent Jennie Rosenberg at jennie@seaglassproperties.com to make your dreams of living in paradise a reality!
Source: BusinessWeek.com, Christopher Palmeri (01/23/09)

Looking for a rental home or apartment in the US Virgin Islands?

Jennie of Sea Glass Properties can assist you in locating that perfect rental property in Paradise!  Whether you are looking for a short term vacation rental, or a long term rental to call “home”, Sea Glass Properties is there for you.  Your Caribbean hom is just an e-mail away,  jennie@seaglassproperties.com.