Monthly Archives August 2011

The 203k Mortgage

              Real estate consumers today can find ample value in distressed homes – properties that are under a foreclosure order or up for short sale. In many cases, however, “distressed” speaks more for the condition of the homes than their recent financial histories, as they’ve sat empty for extended periods and have been subject to vandalism and theft.             Those considering homes in need of repair and renovation should consider a 203k mortgage, which enables homebuyers to finance both the acquisition and rehabilitation of the property with just one loan.             “FHA 203k purchase loans are the perfect financing
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Time for an Appraisal?

            One of the most important jobs for your real estate agent is to determine the value of your home by developing a Comparable Market Analysis, which will be used in pricing the home for the right amount.             If your property isn’t attracting serious shoppers, your agent may recommend that you invest in an appraiser to get a second pricing opinion, as the appraiser will come in with an independent, unbiased opinion to help ensure your price is correct for the market.             “An appraisal is important in today’s market especially, because it’s an objective and unbiased source of
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