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MilitaryByOwner Advertising, Inc.
Newsletter
 
October 2009
Vol. 1 Issue 10
Letter from the Editor 


With changing foliage and dropping temperatures, it can only mean one thing... the dog days of summer are over and it is finally Fall! Hopefully for most of you this means that you have settled from your Summer move and are now back in to a "normal" routine.  
 
For those of you who are ramping up for a winter move, MilitaryByOwner.com can be a fantastic resource for homes near your new duty station. With the slow down in the real estate market, there is a large inventory for you to choose from if you are in the market to buy or rent a home.
 
Once again we continue to see fantastic growth in our website. And we want thank you for helping us grow by spreading the word to your friends! This is still our number one source of advertising and nothing could make us feel better than knowing that we have satisfied customers out there!  

If you are a real estate professional and would like to author an article on a current market topic for our newsletter, or if you have a website that you think other military families should know about, please contact me! I would love to hear from you. With over 40,000 subscribers, this is a great way to reach new customers.
 
And remember, we are available Monday - Friday, 9am - 9pm EST to assist you via our live chat.
 
Editor
 
 
 
 
 
 
 
 
  
Editor
MilitaryByOwner Advertising, Inc.

MBO News 

News

  Welcome Aboard Reception
 
Marine Officer Spouses Club
Okinawa, Japan
 
We were thrilled to assist in the MOSC Welcome Aboard reception.

MOSC2
MOSC3

 
 
 





The reception was attended by those who are new to the base. They were given valuable information about  on-island colleges, family services organizations and businesses. The President of MOSC is Sharolyn Strader.  
 
Reminders:
Sharon 
Featured Article

Notice of Underreported Income
 
By Monica Schaefer
MilitaryByOwner Advertising, Inc
.
 
In September 2009, a mass e-mailing, purportedly from the IRS, began circulating in-boxes across the country. The email suggests that you have unreported/underreported income and asks you to "review tax statement". If you are anything like me, seeing any type of notice from IRS can be intimidating, so I decided to look into it a little further.
 
Let me quickly get to the point. If you have received one of these email messages in your inbox, DELETE IT!
 
Here is a sample of what the email looks like:
 
Subject: Notice of Underreported Income
From: no-reply@irs.gov
 
Taxpayer ID: smith-00000634046688US
Tax Type: INCOME TAX
Issue: Unreported/Underreported Income (Fraud Application)
Please review your tax statement on Internal Revenue Service (IRS) website (click on the link below):
review tax statement for taxpayer id: smith-00000634046688US
Internal Revenue Service

This widely spread email message is in fact an attempt to "phish" personal information from unsuspecting recipients. When you click on the link, you will be asked to provide your IRS login and ID, which will allow the scammers to retrieve your personal financial information.
 
Here are a couple of tips from the IRS website that you should keep in mind if you are to receive one of these email messages:

The IRS does not initiate taxpayer communications through e-mail.

  • The IRS does not request detailed personal information through e-mail.
  • The IRS does not send e-mail requesting your PIN numbers, passwords or similar access information for credit cards, banks or other financial accounts.
  • Report suspicious e-mails and bogus IRS Web sites to phishing@irs.gov.

If you receive an e-mail from someone claiming to be the IRS or directing you to an IRS site,

  • Do not reply.
  • Do not open any attachments. (Attachments may contain malicious code that will infect your computer.)
  • Do not click on any links.
If you clicked on links in a suspicious e-mail or phishing Web site and entered confidential information, visit our Identity Theft page. Use the following steps to report the e-mail or bogus Web site to the IRS.

How to report phishing, e-mail scams and bogus IRS Web sites

If you receive an e-mail or find a Web site you think is pretending to be the IRS,

  • Forward the e-mail or Web site URL to the IRS at phishing@irs.gov.
  • You can forward the message as received or provide the Internet header of the e-mail. The Internet header has additional information to help us locate the sender.
  • After you forward the e-mail or header information to us, delete the message.

It is unfortunate that we have to constantly be on guard for unscrupulous people, but if you take time to be diligent, then hopefully you can avoid being a victim!

 
Real Estate Corner 
FIXING FORECLOSED HOUSES FOR FUN & PROFIT

By Jane Shafrin

If you've been watching the news you know that the supply of foreclosed residential properties is in the tens of thousands or more and will probably increase. Many of these properties have a great deal of "deferred maintenance", or in other words they are in bad shape. Some may even be unlivable. (The last occupants of the house often remove whatever they can out of the house including appliances, bathroom fixtures, light fixtures, even copper pipe.) What happens to a foreclosed, vacant house?
 
If you know how to remodel a house so that it appeals to buyers at a particular price range and in a particular neighborhood, you can earn profits buying foreclosed properties, fixing them, and selling them at retail. The key phrase here is "appeal to buyers in a certain price range". Your work must result in a fresh new look for the house without exceeding the current remodeling styles.
 
To simplify, there are two types of properties defined as foreclosed: bank-owned and short sale. You purchase a bank-owned house from a bank. The bank owns the house because the mortgage holder defaulted on the mortgage. You can often close on bank owned properties within a matter of weeks, depending on the bank.
 
A short sale is a different type of transaction altogether. Often a short sale takes months to close, if you can get the seller (usually a bank) to agree on a price. Meanwhile the seller is holding your deposit money. The house may still be occupied by the owner, who is behind in payments and trying to work out a deal. According to Scott Mills of Colorado Properties, "Stay away from short sales unless your broker can find out when the note holder is planning to accept offers and close."
 
There is also a market for wholesale properties which involves finding a property with good potential and doing what's called a "double closing" or "flip". This means you get a contract on the property and sell it on the day of closing to a third party, usually a rehabber, for a small profit. Profits on wholesale properties can range from $2,000 up to $20,000 depending on the property and the market. The buyer will want to purchase the property at 75 cents on the dollar or less. This means that after fixing it up, his costs will be 75% (or less) of the fixed-up price he gets for the house.
 
You need to complete several steps in order to get a foreclosed house ready to sell at a profit:

1. Find the property and finance (fund) it if you are a beginner, avoid condos, town homes, antique houses, farms, multi-family properties stick to tract houses, that is houses that resemble the other houses on the street and in the neighborhood as to age and design a realtor can help you understand the retail prices (comps) in the neighborhood, and can help you locate and view bank-owned properties.

2. Plan the remodel in the greatest possible detail including costs of materials. 


3. Find contractors to do the work if you can't do it yourself--if you're not a licensed plumber or electrician, you should hire licensed people for these jobs. Be sure to get permits for new construction. Contact your local city or county Building Department to find out about what permits you need.

4. Stage the property with touches of decor such as chairs, plants, kitchen towels, a cookbook, toys, curtains, fluffy towels in the bothrooms, fancy soaps, etc. Never sell an empty house or a house stuffed with bric a brac 5. list the property on your local MLS; use the realtor to sell the property that helped you buy it; the realtor may offer a reduction of his/her commission since he's getting paid twice on the same house. 


You can finance a property in a variety of ways. Buy it and fix it up while living in it. This is probably the best way to get a conventional bank loan. Banks won't finance investment properties unless you have sufficient cash flow to make the mortgage payments. If you are already paying rent or a mortgage, your income may not suffice to qualify for a bank loan on a second house. 

Pay cash for a property. This eliminates the bothersome paperwork of applying for a bank loan, and you won't be stressed by having to make mortgage payments.
 
Borrow from friends & family to purchase the property. Agree to repay them, with interest, when you sell the house.
 
The least attractive alternative is a "hard money" loan. This is a high-interest-rate loan, 10% to 14% or more, which is payable within a short term, which you repay when you sell the house. There are probably a few hard-money lenders in your area. You should be able to find them by calling around to banks and real estate brokers. The high interest rate takes a huge bite out of your profits. If you find a property that has a big upside, this may be the way to go. Some hard money lenders may also front you the fix-up money.
 
Keep in mind that you also need funds for contractors, materials, insurance, landscaping, utility costs, and staging items. Until you finally close on the beautiful home you remodeled, you will be writing check after check.
 
If you are planning to buy a foreclosed house, find a realtor who understands what you want to do. You may have to interview 6 or 8 realtors before you find one who has the experience you need. The realtor will want you to sign a buyer's agency, a contract that prevents you from using another realtor. This is perfectly acceptable, but don't sign it unless you are absolutely sure you and the realtor are on the same page. Read the contract--any contract--carefully. A realtor can be a tremendous time saver and adviser. A good realtor has years of experience selling houses in the neighborhoods you are focusing on, and may even be a rehabber or landlord too.
 
Next time: now you own a house! What next?


Jane Sharfin
jane5505@msn.com

In This Issue
MBO News
Featured Article
Real Estate Corner
Military Life
Featured Site
Featured Home
Customer Experience
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Military Life
American Forces Press Service

Defense Department Works to End Domestic Violence


By Samantha L. Quigley
American Forces Press Service

WASHINGTON, Oct. 7, 2009 - The Defense Department is committed to providing a safe and healthy environment for military families, the director of the department's Family Advocacy Program said in observance of Domestic Violence Awareness Month.

When domestic violence does occur within the military community, however, there are places to turn, David Lloyd said.

"Domestic violence is always an issue in the military because military people come into the service with all the issues that are present in the civilian sector," he said. "We don't want victims to suffer in silence."

In 2006, the department passed the Restricted Reporting Policy, Lloyd said. Restricted reporting allows victims who are unaware of the support and resources available for them to get that information, get an assessment of their safety and receive help with safety planning.

All of this is done without notifying military law enforcement or the military commander, which means that if the alleged abuser is a servicemember, the incident won't end up on a permanent record.

The other option is unrestricted reporting, which is the option used when a victim wants to get law enforcement or the command involved, Lloyd said.

"In that situation, the law enforcement ... personnel would investigate the allegations of what had happened and of course would present it to the commander," he said. "The commander would be able to take steps, including issuing a military protective order."

Commanders also have the authority to move the servicemember into the barracks to separate the couple, as well as make them surrender any personal firearms to reduce the immediate risk of lethality, Lloyd said.

These are just two of the tools and resources available to victims of domestic violence in the military community. Victim advocates and military life consultants also are available to help a victim through the process, no matter which report they choose to file. Should a victim want to seek shelter, the advocate or a Family Advocacy Program clinician would help her get to a shelter off the military installation, Lloyd said.

"The ... advocate also would go with her to a civilian court, ... to get a civilian protective order ... [which] must be enforced on a military installation just as if it was in the outside, civilian world," he said. "If it's a servicemember who's the alleged abuser - which it is in about 60 percent of the cases - the commander can order that abuser to meet with a [Family Advocacy Program] person, get an assessment, [and] come up with a treatment to correct his behavior."

The commander also could order the servicemember into Family Advocacy Program or other counseling, as appropriate, Lloyd said, or may call for disciplinary measures.

There's another scenario as well.

If the servicemember wants to come forward as a voluntary self-referral before abuse occurs to get help with his own potentially abusive behavior, he can contact the Family Advocacy Program for counseling services, or the family center or Military OneSource for nonmedical counseling, Lloyd said. Speaking with a Military OneSource or military family life consultant before abuse has occurred is confidential and neither law enforcement or command would be notified. But when the commander hears about an incident of abuse, and takes action against the servicemember, it will show up in their record.
The realization that many victims are afraid to come forward because they feel reliant upon their abuser has not been lost on the department.

If a commander finds cause to discharge a servicemember over abuse allegations or has the servicemember court-martialed and a guilty verdict is returned, and pay and allowances must be forfeited, the victim isn't left high and dry.

Defense Department policy authorizes commanders to pay for the victim's transportation to a safe place and the shipping of household goods provided there's an agreement between the spouses or the court has divided the property.

"The commander can also authorize the victim to receive up to 36 months of transitional compensation based on the servicemember's pay to help the victim get a new start," Lloyd said. "In addition to the compensation, the victim would be eligible for medical and dental benefits ... and for exchange and commissary benefits for the same period of time.

"We want the victim not to feel that she's so dependent on the servicemember's pay that she has to suffer in silence," he added.

The time period for which those benefits are extended is dependent upon the amount of time left on the servicemember's enlistment contract, he said.

It's often taken for granted that all victims of domestic abuse are women, but Lloyd said that's not the case. About a third of the cases reported each year are reported by men.

"The good news is that we can work with them as well, our Family Advocacy Program people and our victim advocates," he said. "Also, the [male] victims tend not to have significant physical injuries. Women, because of their smaller body size and body mass, if they do get hit with violence, they tend to suffer more significant injuries than the men do."

But not all domestic violence is physical. Sometimes it's psychologically coercive, controlling behavior, he said.

How the reported domestic violence cases compare with the same demographic in the civilian population is unknown as there's no annual data collection system, Lloyd said. The department has contributed to the new National Intimate Partner Violence, Stalking and Sexual Violence Surveillance System, being developed by the Centers for Disease Control and Prevention.

"So for the first time, by the end of 2011, we should have some comparative data," he said.

The department keeps tabs on the number of cases reported throughout the military, however, and Lloyd said the trend since 2000 is a bit surprising.

"Despite the heavy stresses we've had from two wars, both the number of reports and the number of reports that meet [Family Advocacy Program] criteria, and the rate of such reports per 1,000 married couples, has declined rather steadily since the year 2000," he said. "We're always keeping an eye on it, because we're very mindful of the long-term effects of repeated long-term deployments. [They] can really wreak havoc on marriages and other relationships.

"We're not pleased, because we don't want to have any, but we think that the proactive stance the department is taking to try and support couples and families, and seriously dating couples ... is maybe having a payoff," he added.

Numbers from the civilian population also show an overall decline, too, he said.

The department's efforts don't stop with adults; officials also have taken measures to address teen dating violence as well. Tool kits have gone out to Defense Department schools, defense youth programs and Family Advocacy Programs to help teens develop relationships that are nonviolent, Lloyd said.

Tommy T. Thomas, deputy undersecretary of defense for military community and family policy, reinforced the department's commitment to ending domestic violence.

"The Department of Defense and the military services are committed to providing strong family programs to prevent, identify, report, treat and follow-up cases of domestic abuse," he said. "As the nation observes Domestic Violence Awareness Month, we will continue our work to ensure that every home in the military community is a safe home."

Biographies:
Tommy T. Thomas

Related Sites:
Military Community and Family Policy
Military OneSource
Military Homefront

Featured Site 
militarybyowner.com facebook

In this day and age, it is not likely that this will be the first time that you have heard about facebook or other social networking sites that are all the rage. But what may be news to you is that MilitaryByOwner Advertising, Inc has a fan page on facebook.

Facebook Fan PageBecoming a fan will allow you to enjoy the benefits of being able to network with fellow military members that can offer support and advice on renting or selling homes or just general tips on how military families weather the constant cycle of PCSing.

We all know that one of the great benefits of military life is the wide array of people we know across this great country and now this is a way to tap into that benefit as well as gaining even more useful tips from those that we don't know!

Do you have a great relocation tip or an idea on how to help your children adjust to moving to a new location? Become a fan and share your knowledge with others and you could win a $25 Home Depot gift card! What could be better than learning something new, helping others and the possibility of wining something we all need when we move?

We look forward to having you as a fan soon!
Featured Home
 
For Rent By Owner
Price:  $1,200.00/month
Aberdeen, NC - Newington Way
3 Bed, 2 Bath (Single Family)

Featured Home NC

Description: 
3 Bedroom/2 Bathroom, 1800ft sq ft home with hardwood floors on a quiet cul-de-sac in conveniently located Glen Laural subdivision. This home is new construction complete with living room gas fireplace; eat in kitchen with stainless steel appliances(microwave, cook top, range, refrigerator, and dishwasher) and disposal. There are washer/dryer hookups in laundry closet off the kitchen. The large master suite is separated from the two bedrooms and includes his and hers walk-in closets, private bath with spa tub and separate shower. The master has hardwood floors while the two bedrooms have Berber carpet. There is a two car garage with plenty of storage space, a screened in porch off the livingroom overlooking private back yard as well as a welcoming sitting porch on the front. Additionally there is invisible fencing around the perimeter of the property. Dogs are welcome upon meeting and approval.
MilitaryByOwner Rent:  $1,200.00/month
 
Featured Home NC

For more Information on this home
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Customer Experience
 
For Rent Sign
Wow! I posted our home "for sale or rent" on Wednesday night and by Thursday afternoon we had a renter who wants to by the house when their lease expires! A week later, we have a signed lease and are ready to move!! Thank you militarybyowner - you rock.
M.P.
Fort Hood, TX
10
/09
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