Archives for Uncategorized

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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!!!! Make Your Offer Stand Out !!!!!

            Real estate consumers are realizing that there has rarely been a better time to buy a home. In fact, historically low mortgage rates coupled with lower home prices have even sparked bidding competition in markets around the country. A good home in a solid location may attract ample attention only hours after being listed. Home buyers can make their offers stand out from the rest through one or more of the following strategies:             Price. Obviously, price tends to be the primary consideration for sellers. When you’re competing for a home, to get an edge, think about adding a
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Home Not Selling? It's Not Personal, It's Probably Price

     Home sellers face a new reality as they look to move up, down, in or out of their American dream in today’s market. Consumers, particularly those who purchased their homes within the last five years, often find their options limited by a lack of equity. Those who can sell are sometimes numbed by deflated home prices and find it difficult to justify yesterday’s valuations with today’s reality.             Many home sellers have dug in on price hoping to lose no additional ground. Others seem to have taken this market personally, letting emotions override analysis when setting price. Buyer
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Short Sales

Many people have asked me, “What are short sales” and “how can that help me sell my home”?   Simply put, a short sale is selling your home for less than you owe including sales expenses and not having to bring any money to closing.  Sounds simple, right?   Not so fast.   Your mortgage company has to approve the process which could take months.  In fact, I had one sale that was signed in April 2010 and finally closed in Dec. 2010!    The good thing is that the seller was able to sell his home, the buyers were able to purchase it
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Updating your Home to SELL!!!

There are so many things that you can do to update your home – where do you start?  What gives you the best bang for your buck?   Do I need a designer or permits?  Start inside or outside? Lots of good questions.   Here are your best answers: The first rule of thumb: Use the 10% rule: Ensure that your home is not too terribly different from the rest of the homes in the neighborhood.   If hardly anyone else in your neighborhood has new cabinets and granite, then adding that won’t give you as much of a return. Don’t add that
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This Week's Market Report

Mortgage Market Report - Weeks Wrap Up _____ Not much news this week, aside from the Lebron James announcement...he's going to Miami if anyone cares... The biggest news this week was the Initial Jobless Claims report on Thursday which was a little better than expected. "Just" 454,000 people filing first time unemployment benefits . But that was a bit better than the expected 465,000 and somewhat better than last weeks 472,000 first time filings. And with tensions simmering down overseas, the stock market mustered a rally and has closed today above 10,000 again, settling at 10,198 ( DOW Index ).
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You Snooze…….You Lose…….

Those Who Wait Will Pay Thousands More This Spring Waiting a few extra days or weeks to purchase a home this spring could cost buyers thousands of extra dollars as the office of Housing and Urban Development (HUD) implements several changes for loans guaranteed by the Federal Housing Authority (FHA). Coming just weeks before the April 30 deadline for the Home Buyer Tax Credit and just days after the March 31 expiration of the Federal Reserve Board's mortgage backed securities purchase program (which has kept home loan rates artificially low for over a year), these FHA changes make it even
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