Wednesday Wisdom


Ask yourself this question:

“WILL THIS MATTER A YEAR FROM NOW?”

~Richard Carlson

writing in Don’t Sweat The Small Stuff

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Moving, Schools & what’s YOUR Important Opinion


You are going to be moving and there is a new school involved.  Tell us what’s important to you.

Thinking of buying a cabin in the woods? Here are some questions you may want to ask.


Common Questions to Consider When Buying Your Cabin in the Woods

Vacation properties come in many forms. From basic cabins to fully equipped country homes – there are a few specific questions to be considered with each purchase.

Recreational Property

  1. If your property isn’t on the water, find out if you have deeded access to it or if public access exists. Sometimes waterside property owners will post “Keep Out” signs though lawful access exists.
  2. Consider your future plans. Could your small cabin one day become your retirement castle? Find out if year-round residency is permitted and if building restrictions exist. Additionally, what (if any) renovation restrictions exist on the property?
  3. If not on the local municipal sewage system, ensure the septic system is adequate and up to date. Do local municipal building codes allow you to expand the capacity of your existing septic system and is there an opportunity to eventually connect to a planned municipal system?
  4. Water-access only properties, while less expensive to purchase, are logistically more difficult to maintain. Stocking the cabin, repairs, shuttling guests, and trips to town can be more difficult and costly to co-ordinate. However with the increased isolation comes increased quiet and a greater sense of disconnect from modern-day life – a feature that makes them attractive to many buyers.
  5. Check out the source of your drinking water (well, lake, and or municipal). If your water is sourced from a well, ask if it’s ever dried out. Regardless of water source, a water purity test should be conducted as part of your vacation property inspection.
  6. Is the road to your cabin maintained year round? Having the option of drive-in access is preferable, especially in winter months.
  7. If you have a waterfront cabin, what are the municipal restrictions for building both docks (square footage and length) and new boathouses (height and square footage)?
  8. Find out if your garbage will be picked up or do you have to deliver it to a dumpsite. While an adventure the first time, the novelty can slowly wear off and may impact the value of your property for those interested in curbside pick-up.
  9. When buying a vacation property, consider cost (gasoline), time and traffic as part of your recreational experience.
  10. Remember to consider resale should you ever need to sell it.  Do you think that your cabin offers enough perks for someone else to want to purchase it.

Short Sale or Foreclosure, What Should “I” Do?


TV, newspaper, internet wherever you turn you are hearing about this topic everywhere.  Those facing a short sale or foreclosure know it can be very stressful and often wonder where to turn.  I am here to tell you that “YES” it can be stressful, but once you have spoken with a qualified person that can give you direction, answer your questions and help you to make those first steps, this stressful feeling will subside and you will wonder why you waited so long to ask the question.  What most people don’t know right now, if you were to start asking around, you would be surprised at how many people are in the same situation you are in.  Why are we so afraid to talk with each other about our difficulties…remember when the teacher always said to us, the only stupid question is the one that was not asked?  Shouldn’t that apply in this situation also?

The worst thing you could have to tell your spouse or partner is that you may be on the verge of loosing your home.  Now what, how long will the process take, where do we go from here & most impotantly…where will we live & how long with this affect our credit scores.  These are more than just scary thought.  Depending on the action you have to take; short sale vs. foreclosure both will impact your credit scores but in two very different ways.

Short Sale: May stay on your record for 3-4 years.  How it affects your credit score is based on each situation individually as each of our credit scores are different to begin with.  After the appropriate number of years, you may see this come off your credit report.  If you have a second mortgage, this lender has up to 7 years to come after you for the deficient amount owed on that loan even once the home is sold.

Foreclosure: This will stay on your credit report FOREVER! It may affect the terms of any loan or credit card you try to obtain in the future. 

Neither of these procedures should be taken lightly, however, working with a qualified real estate agent will help guide you through the process and be able to direct you to the correct persons that you may need to speak with in order to make the correct decision for you.  When speaking with a Real Estate agent about how you should proceed, it is important to know that this person can not ethically give you any legal or financial advise on the decision you might need to make.  It is always in your best interest to speak with the appropriate persons for direction in these matters.  Your Real Estate agent should also not pressure you to make any impulse decisions on what you want to do.  Since this decision is going to affect you for many years if not a lifetime, take the time to make the decisions that feel best for you, your spouse and most definitely your family.

The other thing to remember is each situation is different and how the bank works with your agent will be different in each case.  So if you see an agent promoting themselves as an experienced or expert in either of these situations, remember that these designations are self-proclaimed and there is NO government or agency that gives these titles to an agent.

THE SPIRITS TO MOVE are here to assist you in all your real estate needs & questions.  Leave us a question if you have one and we will get back with a private response to you.  We are here to help move you in a professional & confidential manner.