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MilitaryByOwner Advertising. Inc.
Newsletter
January 2010
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Letter from the Editor
A new year, a new look! We have updated the look of our newsletter for the fresh start to a new year!
MilitaryByOwner Advertising, Inc. would like to thank all of our customers for an incredible 2009! Once again, we experienced record growth and continue to look forward to meeting the needs and desires of our customers in 2010! We have some great things to look forward to and we can not wait to share the news with you!
We would also like to send out a special "thank you" to those that choose MilitaryByOwner to advertise their services to our military members. As a way to introduce our subscribers to our fantastic advertisers, we will feature one of our Business Advertisers each month, so that the next time you are looking for a mortgage lender, agent or property manager, you will turn to MilitaryByOwner for all of our real estate needs.
The look and feel of our site is something that we like to keep dynamic and the changes we make are often based on feedback and suggestions that our customers send to us. We love to hear from our customers, so please continue to contact us.
We have knowledgeable and friendly staff that are on the other end of both our inbox and our live chat, so as the busy PCS season approaches, please feel free to contact us if we can be of any assistance to you.
Thank you again for your continued support and best wishes for a healthy and happy 2010!
Monica Schaefer
Editor
MilitaryByOwner Advertising, Inc.
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MilitaryByOwner News 
We are busy working on making some changes to the website with features that you have asked for! We are hoping that the changes will be live soon.
 Recently we attended the MilitaryByOwner training in Hollywood Florida. Most of our employees are military dependents or retired military living in different states and countries. It was a great time to see one another and learn about the upcoming changes.
Contact Information:
866 604 9126
Office Hours M-F 9am-5pm EST
Chat Hours M-F 9am-9pm EST |
Real Estate Corner
Military Relocation - Options When You are Upside Down on Your VA Loan
By Cindy Jones
Associate Broker
RE/MAX Allegiance
Currently I'm working with a number of families in Northern Virginia who are
qualified for the Department of Defense Homeowners Assistance Program (HAP) but there is
another option for military families who have received orders and are upside
down on their home value.
If you have a VA Loan you may be eligible for a VA Compromise
Sale. In our region of Northern Virginia the VA Regional Office which
will provide you with the latest updates is the Roanoke office. The VA
Compromise sale does have several factors that are important to remember:
- The property must be sold for fair market value.
- The closing costs
must be reasonable and customary.
- The compromise sale must be less costly for
the Government than foreclosure.
- There must be a financial hardship on the
part of the seller
- On loans that originated on or before December 31, 1989,
the seller must be willing to sign a promissory note.
- There must be no
second liens or other liens (unless the amount is insignificant).
- The
seller must first obtain a sales contract in order to be considered for the
program.
To protect the seller's interest, the seller should make the sales contract
contingent and/or subject to the approval of a VA compromise sale.
VA Compromise Sale Information Packet
There is an extensive list of VA approved list of Loss Mitigation
Servicers available on the VA site. A VA Compromise sale does require
that the VA approve the HUD-1 be reviewed and approved by the VA prior to
settlement so making sure the buyers documents are in order at least 48 hours in
advance is a must.
If you are stationed at Fort Belvoir, the Pentagon, Quantico or any
of the Military District of Washington installations give Cindy Jones a call at
703-346-2213. Let's see if a VA Compromise Sale or the Department of
Defense HAP program might help you with your home sale. Cindy Jones
Associate Broker
RE/MAX Allegiance
Direct: 703-346-2213
Fax: 866-694-9325
http://www.cindyjoneshomes.com
http://www.varealestatetalk.com
The World's#1 Selling RE/MAX Company
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USAA Corner 
Buy, Sell or Hold
By Helen Kaiao Chang
Courtesy USAA
If you're
wondering how to play your hand in this housing market, here are some hints for
whether to stay in the game or sit out for a while
These days,
with national median existing-home prices down 11.3 percent, to $183,300, from
October 2007 to October 2008, sellers put up "for sale" signs with trepidation.
Buyers with good credit ratings hit the house-hunting trail with glee. Others
happily stay put, focusing on making mortgage payments and upkeep. What's right
for you?
BUY If you have
good credit, now may be a great time to buy.
WHAT YOU NEED:
■ Steady income source.
■ Good credit. Credit scores of mid-700s
or higher get the best loan rates.
■ A down payment. Conventional loans
require at least 5 to 10 percent down these days, with some banks asking up to
20 percent.
WHAT TO DO:
■ Research the market. Real estate Web
sites and a knowledgeable real estate agent make it easy.
■ Be realistic about what you can afford. That's what many sub-prime borrowers didn't
do. Some believed unscrupulous lenders who approved them for unrealistic
amounts; others didn't take time to understand the terms of their loans.
■ Get pre-qualified. This status can give
you negotiating power.
■ Educate yourself. If you don't
understand what a lender is telling you, ask him or her to explain it until you
do. Try to find a lender whose mortgage
representatives don't work on a commission or fees.
■ Understand
insurance costs. "Have enough insurance to rebuild your home," says Jeanne
Salvatore of the Insurance Information Institute (III). "If you don't, you
could find yourself underinsured." Some
insurers offer homeowners coverage that provides an additional 25 percent above the
dwelling's insured value
SELL
In this
market, it's unlikely you'll sell for the highest price. But if you must...
WHAT YOU NEED:
■ Strong reason to sell. A job transfer,
a permanent change in station or divorce.
Empty nesters who want to downsize should wait until the market
recovers, and newlyweds may need to settle for the bachelor pad while they
look.
■ Patience. Average selling times vary depending
on where you live and sales prices in the area.
WHAT TO DO:
■ Price it right. Go online or ask a real
estate agent for today's worth. "Don't listen to your cousin, aunt or neighbor
who sold two years ago," says Pat Vredevoogd Combs, past president of the
National Association of Realtors (NAR).
■ Spruce it up. Clear clutter, update and
make repairs. Consider a home equity loan for major repairs, but make sure
you'll get the money back from the sale.
■ Offer incentives. Offer to pay for the
buyers' closing costs, moving expenses, appliances or upgrades. "Most buyers
can pay the mortgage costs; it's the upfront costs that are troubling," says
Marc Savitt of the National Association of Mortgage Brokers. "You want to be
able to help the buyers get in."
■ Get help from the pros. Some
associations offer their members the opportunity to work within a network of
certified real estate agents and offer programs that can include cash
incentives to use their network.
HOLD
Staying put?
Stay on top of maintenance or invest in improvements. "Get ready for when the
market turns," says NAR's Combs. Review mortgage terms and insurance coverage, and track
mortgage rates to see if refinancing makes sense.
WHAT YOU NEED:
■ Reason to stay. You plan to live in
your home for at least two more years, building equity.
■ Capital. You may need to draw on
savings or tap an equity line of credit to pay for maintenance, repairs or
upgrades.
WHAT TO DO:
■ Get everything in working order.
■ Renovate, replace or update. Lay new
carpet, repaint walls or redo a bathroom.
Remove popcorn ceilings or replace dated light fixtures or appliances.
■ Improve energy efficiency. Insulate
walls, plug wind leaks and use compact fluorescent light bulbs.
■ Review insurance. Make sure your
homeowners insurance is current. "If you've made any improvements to the home,
keep your insurance coverage up to date," says III's Salvatore.
■ Refinance. Mortgage rates
are hovering in the mid-5 percent range nationally. If you have an adjustable
rate or a balloon loan, now is optimal for refinancing to a fixed rate. If you
have a fixed rate above 6 percent, you might save by refinancing now, too.
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MBO's Top 20 Hottest Bases
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Helping The Military Community Buy
and Sell Their Vehicles" Make a quick sale with your trusted
military network! Active in the U.S., Europe, and
Asia
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Do you think it would
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SendOutCards is also a great tool for
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We at MilitaryByOwner would like to share SendOutCards with you.
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Military Life
Military Housing Allowance Rates Set for 2010
By Army Sgt. 1st Class Michael J. Carden
American Forces Press
Service WASHINGTON, Dec. 16, 2009 - Military members will see an average
raise of 2.5 percent in housing allowance rates in 2010, a BAH program analyst
for the Defense Department said today.
The increase comes to average of around $37 per month for the more than
900,000 servicemembers expected to draw the basic allowance for housing in 2010.
Some areas will see a higher increase, while others will see less, Cheryl Anne
Woehr said.
The 2010 raise is down from 2009's 6.5 percent average, and
is the smallest percentage increase since the inception of the BAH program in
2000. This is due the past year's recession and declining housing market, she
said.
"Rates are set based on actual housing data, so as the economy has
declined, vacancy rates have increased [and] rental prices have declined, which
results directly to lower BAH rates in various areas," Woehr said.
Those
who do notice the BAH rates lower in their area than last year shouldn't worry,
she said, because an individual rate protection law is in place. The policy
protects those who already are under a rental agreement. So if BAH rates in
their area are lower Jan. 1 than on Dec. 31, the previous, higher rate applies.
"Servicemembers are able to take advantage of the increase in rates, but
are not affected by decreasing rates," she said. But servicemembers who change
duty stations, change dependency status or get promoted on or after Jan. 1 will
be affected by the new rates, she added.
Woehr stressed that it isn't
necessarily bad news for the servicemember in areas that see a decrease in
rates. "Servicemembers who are newly reporting to an area get to take advantage
of the lower market when they arrive," she said.
The BAH program is
designed to benefit the servicemember, but it's not designed to pay 100 percent
of housing expenses, Woehr said. The rate is intended to cover rent, renter's
insurance and utilities based on pay grade and dependency status.
The
local market economy determines annual BAH changes and sets the next year's BAH
rates. Military housing offices from each installation begin collecting data on
the local rental market as early as January each year. The offices research the
current rates for two-bedroom houses, townhouses, single-family homes and the
different standards and profiles for homes, Woehr explained.
Typically,
rates are higher in larger, more heavily populated metropolitan areas, such as
New York City, Chicago and Washington, D.C. Rates in rural areas usually are
more stable, and although they may increase to some degree, the rise doesn't
have the same impact as in larger cities, she said.
An estimated $19
billion in BAH will be paid to nearly 1 million servicemembers in 2010, Woehr
said.
Related Sites: Basic Allowance for Housing |
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Military Life II
PODS Offers
Special Military Programs
During military move season, it is becoming a more common site to see
white PODS® containers being utilized by military personnel. Base housing and military neighborhoods are
filling up, loading up and shipping out with the newest tool to make DITY/PPM
moves more efficient...PODS.
Military members, who do not want to drive overstuffed rental trucks
while dragging their motorcycle or boat behind, can have their PODS®
container picked up, stored or delivered to their location. If the customer's home is not ready, the
container can be stored on-site or at one of PODS secure Storage Centers, until
they are ready for delivery.
Perhaps one of the best benefits of the PODS® solution is the
convenience and flexibility they provide, as the customer can use their
container as long as they need while they load and unload their
belongings. In addition, PODS does all the driving so military
personnel can spend more time with their families and less time worrying about
moving.
The unique PODS® solution helps reduce some of
the stress associated with moving and storage. No wonder thousands of military
personnel across the country have chosen PODS.
Simply put, PODS provides a smarter way to move and store with the
Personally Procured Move Program.
Here are some tips
to ensure that your next military move goes smoothly with PODS:
1.
Every
DITY / PPM move requires visiting your Traffic Management Office (TMO) or Joint
Personal Property Shipping Office (JPPSO). You estimate the weight of your
household goods and they will assign you a Personal Property Entitlement, which
is like a budget.
2.
Next
call PODS and mention you're in the military. PODS will deliver your container
to your location, plus you are provided with a military discount.
3.
You
load the container at your own pace and control the way it is packed.
4.
PODS
obtains DITY weight tickets for you when the moving or storage container is
picked up and they typically arrive in the mail about a week later. With PODS,
you eliminate the weigh stations, paperwork, and driving - PODS takes care of
it for you!
5.
PODS
can store your stuff or move you locally or across the US, Canada or Hawaii.
PODS appreciates the
commitment and sacrifices of our military service men and women, as well as
their families.
Call 866-556-9574
and mention promo code MILT for
details. Or check out the website at
http://www.pods.com/Military
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Featured Advertiser
Lisa & Frank Delzompo, LtCol, USMC (retired)
Sand to Sea Properties, Inc.
It is with great pleasure that we introduce you this month to Frank and Lisa Delzompo. Frank and Lisa are one of our longest and most faithful advertisers and have been advertising with MilitaryByOwner.com since 2004!
Frank and Lisa bring a rare and valuable combination to the real estate profession, in that they are not only licensed REALTORS®, but they are also a military family and as Frank would tell you, "recovering attorneys"! This makes them uniquely qualified to serve the needs of military families looking to buy or sell homes in the Southern California areas, particularly those around Camp Pendleton, San Diego and 29 Palms.
I had the wonderful opportunity to speak with Frank and to get his thoughts and advice on how military families should weather the current real estate market. Because of the extension of the $8,000 First-Time Homebuyer Tax Credit and the $6,500 Move-Up Buyers Tax Credit, Frank feels it is a great time to get into the real estate market and to take advantage of the VA loans that are available to all military members.
If you are wondering whether or not to sell your home due to a PCS move, Frank recommends holding onto your home if you are in a financial position to and if you can "stomach being a landlord".
As we all know, the military is one big family and Frank believes that the military connection is a great ice breaker and that it helps to have an agent that speaks the military language and understands the needs of the family.
Helping military families buy and sell their homes is a way that Frank "continues to serve". "Not only am I able to help families through the stress of moving, but I am also able to help them build capital for long term investment and help military families get ahead financially".
After speaking with Frank, one piece of advice that I thought was very useful, particularly during this slower real estate market, was to "stay patient through the process".
This seems particularly prudent, as I believe we have all become accustomed to a market that was fast moving and high priced but that trend has now changed. Patience will go a long way to surviving the day to day stresses of military life, as well as those that are added at times of PCS moves.
Thank you to Frank and Lisa for their continued service to our armed forces and for the continued support of MilitaryByOwner.com.
Frank Delzompo, Lt.Col.
USMC (Ret.), Broker, GRI
Lisa Delzompo,
ePRO
Sand to Sea Properties, Inc.
Direct: (951) 326-7330
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Featured Home
For Sale By OwnerPrice $470,000 Alexandria, VA - Clara Edward Terrace4 Bed, 3.5 Bath (Townhouse)  Description:LOCATION!! LOCATION!! LOCATION!! Gorgeous 3-level
townhome features 10-ft vaulted ceilings and crown moulding throughout. It is
conveniently located between the Franconia-Springfield and Van Dorn Metro
(drive, bike or walk) with easy access to I-395 and the beltway. Main level
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Schools! Additional pictures available upon request. MilitaryByOwner
Price: $470,000.00 MBO62612
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Testimonial
I was very pleased with your service. Your reputation for service is widely known by the military community and the responses to our ad from non-military families was overwhelming as well. It is obvious that your site is the site of choice used by military and civilian families when relocating near military installations. I think that your prices are very reasonable and your web site is user friendly. I have always been successful using your site and will continue to do so in the future. Thanks again for making the home move so quickly through the use of your site. Sincerely, S.S.
Jacksonville NAS
12/09
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