Common Sense Home Improvements

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selling and home improvement


In more prosperous markets, the mention of home improvement ideas meant double-sink vanities, stainless steel appliances, granite counter tops and spa baths. Today, upgrades have come down to earth with the focus on money saving, practical improvements meant to not only appeal to a prospective buyer’s sense of style, but their wallet. Here is a top 10 list inspired from Forbes.com and their “10 Recession-Proof Improvements”.

1. Cork Floors – This eco-flooring is not only economical, but practical as well. It provides good sound insulation, is much more comfortable for standing on than ceramic or slate, and has allergy resistant properties.

2. Bamboo Countertops – Also an eco-friendly alternative to standard countertops, bamboo can be harder and denser than maple. It comes in various vertical or parquet grain designs, and in a selection of colors.

3. LED Lighting – LED lighting systems use far less energy than standard bulbs. Although initially more expensive, they pay for themselves over time. Lower electric bills can be a great selling feature in any market.

4. Garage Doors – Gone are the stark white, plain, windowless doors we were so accustomed to. One of the most popular exterior features of an up-to-date home is a new garage door in one of the current designs such as a carriage style with a row of small windows.

5.Energy Star Windows – If your home needs new windows, then ensure that you choose energy star rated models. Not only will you save on heating costs, but you’ll provide an extra incentive for a prospective buyer.

6. Tankless Hot Water Heater – Tankless hot water systems have become a popular, energy saving alternative to conventional hot water heaters. Their initial cost is a little higher, but they save 30-40% more in energy, are made to last 20 years or longer, and are designed to allow multiple water flows at once. This means two of the kids can be having showers at the same time the dishwasher is running.

7. Water-Saving Toilets – The demand for water-saving toilets has grown over the last couple of years and technology has improved to the point where these units use less than half the water of their older counterparts.

8. Nicely Landscaped Gardens – You can’t beat good old curb appeal when selling a home. Your yard is often the first thing a buyer sees when house shopping, and the opinion they form can make or break a sale before they even set foot in your home.

9. Doorless Showers – Doorless or walk-in showers with sleek chrome trims are replacing large spa tubs by leaps and bounds. It’s become a popular feature in most high-end condos and apartments.

10. Painting – A fresh coat of neutral paint on your interior walls can make a home feel like new. Paint or stain touch-ups can brighten up an otherwise worn home exterior, making it appear updated and well cared for.



Work with a qualified, dedicated agent for your next Metro Washington D.C. real estate purchase. Justin Lee will help you find the perfect home in Chevy Chase DC.

FHA Mortgage loans- WHEN YOU ALREADY OWN A HOME

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home


FHA Mortgage loans- WHEN YOU ALREADY OWN A HOME.

 IMPORTANT – EFFECTIVE WITH CASE NUMBERS PULLED ON OR AFTER 9-19-08

 DID YOU KNOW?

 Recently, FHA and others in the mortgage industry have observed an increasing number of homeowners who have chosen to vacate their existing principal residence and purchase a new residence. This has been occurring as some homeowners, given the rising price of fuel, are relocating to homes nearer their employment, or are taking advantage of other home buying opportunities arising in the marketplace. Due to FHA’s concern that some homebuyers in these transactions may attempt to provide misleading information regarding the rental income of the property being vacated to qualify for the new mortgage, FHA is instituting underwriting guidance designed to assure that the homebuyer can make payments on the full debt service of both mortgages. Consequently, beginning with case number assignments on or after 9-19-08 and until further notice, the underwriting analysis may not consider any rental income from the property being vacated except under circumstances described in this Mortgagee Letter. The exclusion of rental income from property being vacated is being instituted on a temporary basis while FHA further analyzes this situation to determine whether permanent measures may need to be taken. This will assure that a homeowner either has sufficient income to make both mortgage payments without any rental income or has an equity position not likely to result in defaulting on the mortgage on the property being vacated. In either case, this guidance is directed to preventing the practice known as “buy and bail” where the homebuyer purchases, for example, a more affordable dwelling with the intention to cease making payments on the previous mortgage. Although the property being vacated will not have a mortgage insured by FHA, surrounding properties may and, thus, FHA may be indirectly negatively affected should that property result in a foreclosure.

 Exceptions:

Rental income on the property being vacated, reduced by the appropriate vacancy factor may be considered in the underwriting analysis under the following circumstances:

 •Relocations: The homebuyer is relocating with a new employer, or being transferred by the current employer to an area not within reasonable and locally recognized commuting distance. A properly executed lease agreement (i.e., a lease signed by the homebuyer and the lessee) of at least one year’s duration after the loan is closed is required. FHA recommends that underwriters also obtain evidence of the security deposit and/or evidence the first month’s rent was paid to the homeowner.

 •Sufficient Equity in Vacated Property: The homebuyer has a loan-to-value ratio of 75 percent or less, as determined by either a current (no more than six months old) residential appraisal or by comparing the unpaid principal balance to the original sales price of the property. The appraisal, in addition to using forms Fannie Mae1004/Freddie Mac 70, may be an exterior-only appraisal using form Fannie Mae/Freddie Mac 2055, and for condominium units, form Fannie Mae1075/Freddie Mac 466.

Advantages to Using an FHA loan to purchase your next home include:

Florida home buyers should know the many advantages of the FHA mortgage loan programs. FHA home loans  were created to help increase home ownership. For the Florida home buyer the FHA program can simplify the purchase of a home, making financing easier and less expensive than a conventional mortgage loan product. Some highlights of the Florida FHA loan program include:

Minimal Down Payment and Closing costs.

Down payment less than 3% of Sales Price Gifts are allowed Seller can credit up to 6% of sales price towards closing and prepaid costs. 100% Financing available No reserves required. FHA regulated closing costs.

 

Easier Credit Qualifying Guidelines such as:

No minimum FICO score or credit score requirements. FHA will allow a home purchase 1 year after a Bankruptcy. FHA will allow a home purchase2 years after a Foreclosure.

Apply Today at http://www.fhamortgagefhaloan.com/



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Real Estate Photography- Ultimate Exposure to Earn Profits From Your Property Firm

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Real estate investors


Real estate photography is a new, exclusive initiative to promote international property business to inspire by the theme Development, Nature and Architecture. Real estate photography leads to increased competition in the photographic market. Most of time people would likely visit their property for sale because of the attractive images.

Tips of good real estate photography

- A good source of light.

- Wide angle lenses make real estate photos appear spacious, inspirational and motivational

- Digital formats cut down on printing and developing expenditures and makes photos available immediately.

- Same images should be available in different sizes so that according to the specifications you can provide it.

- take a shot of every part of house for sale including living room, kitchen, dining room, and other parts of the house.

- highlight the best features of your house.

- clean the entire house before taking its photos.

- hire a professional real estate photographer.

Real estate photography is of following kinds:

- Standard real estate photography,

- Elevated pole real estate photography,

- Exterior twilight real estate photography,

- Interior real estate photography services,

- Real estate photography for builders and architects.

Real estate firms have totally booming nowadays. If you are a property agent, you have probably faced a lot of competitions. Over few older years, when all you require is a well written advertisement to sell a real estate. Currently in order to fully publish your listings, you need to attach a good real estate photographs. With the emergence of digital cameras, the realestate that you are selling can be photographed and placed online. Potential purchasers from different parts of the world can actually see your listings with the images in it. Don’t underestimate the value of these photographs because a purchaser can definitely decide to check out the real estate based on the pictures that you have.

Real estate photography makes the property images impressive. If you have a house which looks unattractive and you want to sell that but because of appearance no good investor wants to buy it. Through the technique of real estate photography you can make your house to appear better and most of the investors search online for real estate images to buy it. Based on recent estimations, the number of individual searching home for sale online has increased. Almost half of these property seekers found their dream property instantly online through the help of real estate photography. An image is worth a thousand words. Especially when your words may be limited by the Multiple Listing Service use real estate photography techniques to express your quality difference in properties.



Sydney Real Estate Photography offers servics like Real Estate Photography, property photography, architectural photography, interior design photography and landscape photography. For more detail about Real Estate Photography visit: www.sydneyrealestatephotography.com.au and also visit: seo services

Mortgage Lates on Your Credit Report

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MORTGAGE LATES ON YOUR CREDIT REPORT

 

So many of you are facing the reality of being late on your mortgage payment and how it has affected your credit scores. I personally know of folks that had pristine (700) beacon scores, but when there adjustable rate mortgage increased, they could not afford the increased payment.

 

Being good people, they struggled and went without. I have a couple that earns over $6,000 a month. And, yet at the end of the month, they don’t have enough extra money to even go to the movies. They don’t live beyond their means. Granted, they were the same people, like so many others that re-financed their homes when the value of the home increased. WOW, they were real estate geniuses.

 

Yep, they went out and bought new toys for themselves and paid down their credit cards and even put a couple of bucks under the mattress for a rainy day. But, those were the good old days. When, that house payment increased by $750.00 a month, pretty soon that money under the mattress was used up to “keep up”.

 

Once the money that they had saved was gone, they started to “scrimp and save” on other items. Soon, they had to be late on credit card payments because they were living from “paycheck to paycheck” just like many poor folks had been living for so many years. Welcome to the world or reality. With those late credit card payments, the “vultures from Wall St stared circling”. You know the “drum roll”. If one credit card payment is late, the other credit card companies pick up the scent and when you’re normal credit card interest was at 7% it now zooms up to 32% on ALL of your credit cards.

 

So, think about that for a minute. Let’s say that you had credit card debt of $25,000 which is not uncommon. Your ability to stay even was predicated on the lower interest rate. Your interest payments alone were $145.84 a month. So, as long as you were making just the minimum payment it wasn’t too bad. But, look now once you became late on ONE credit card. The monthly interest payment now shot up to $666.67 ! ! ! That,  Charley is an increase in monthly minimums of $520.83.

 

If a stranger came to your door once a month and held his hand out for you to give him $520.83 cents for NOTHING, would you do it? HELL NO. But, the Wall St. goons have figured out how to get that extra dough from you without a gun or even showing up. Yep, their computer geeks kept spying on your financial activity with other credit card companies and once you were late, ZINGO, they put the ZAPPERS to you.

 

So, let’s play this out. You are now in the high interest bracket on your short term debt. What a financial mortal wound for a good family just trying to stay afloat. You might have been one of those couples that couldn’t understand why people cannot pay their bills. I’ll bet you even said “that won’t happen to us”. We have good jobs and we have always had pristine credit. Now, you have to ride the commuter of reality and face facts. You are now one of those families that you thought you would never become. The shame of having to talk about it much less have your relatives and friends find out about it. How could you drive that “beamer” to work and know that you cannot pay your bills?

 

Here is where the “grim reaper” of the credit world lowers the boom. You cannot make your mortgage payments and now you have a couple of late payments on your credit report. Your scores are in the tank. Now, foreclosure hits you and all of a sudden, you are in self denial.

 

Lets get back to the reason for this article. IF, you are foreclosed on and you DON”T defend your foreclosure, you are really mortally wounded credit wise. BUT, if you do defend your foreclosure and the lender is told by the courts to come up with the original note and they cannot, the case gets dismissed. Now you have a legal paper from the court that says, “the plaintiff (the lender) is NOT THE OWNER OF THE NOTE, therefore they have no interest in the note.

 

This is where it gets tricky. If, they had not interest in the note, then how can they report any late payments to the credit bureaus? Think about it for a minute. If, they were allowed to report your payment history and they didn’t have any interest in the obligation, it would be like allowing a complete stranger to post something bad about you simply because they wanted to.

 

No one even thought about this angle. Maybe somewhere there is a clever attorney that did, but so far, I haven’t found anyone. So, now you see the difference between defending yourself or just giving up.

 

Regis Sauger  

 





Regis Sauger is a Licensed Mortgage Broker in Florida. He has written numerous aritlces on consumer credit. He has over 25,000 readers of his articles.
http://www.yurcredit.com

Florida FHA Mortgage Refinance, ((NO MIN FICO))

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ng>FHA Mortgage Refinance in Florida using FHA mortgage refinance program

Florida FHA Refinance Process

You are ready to refinance your Florida mortgage?

You already own a home, so you’re at least somewhat familiar with the mortgage process. Now want to refinance your Florida mortgage and are considering an FHA-insured mortgage.  You’ll find out that refinancing with an FHA mortgage is the same as applying for any other loan, plus you have many more protections and it’s easier to get qualified with an FHA mortgage loan.

First, determine what kind of loan you already have

If you already have an FHA-insured mortgage loan, you have a few more options for refinancing than if you than if you have a conventional or other non-FHA mortgage loan. Ask your lender.

Second, determine what you’re trying to do

Are you looking to take advantage of a lower mortgage interest rate? Are you looking to consolidate some higher interest debts or refinance a home equity loan into single mortgage? Are you looking to take cash out of your property? Your refinancing goals will determine what kind of refinance loan you want to apply for.

FHA refinancing offers benefits for current real estate home owners who are seeking to complete a refinance mortgage of their existing real estate mortgage. A FHA home loan refinance may also benefit you even if you do not currently have a FHA loan. Some advantages of using a FHA mortgage for your mortgage refinance are as follows:

Cash-Out Refinance up to 85% for existing or new FHA mortgages.

Cash-Out up to 85% of your properties value. Consolidate first and second mortgages into single loan. Bill consolidation programs. Easier credit and income qualifications. FHA  regulated closing costs.

Rate and Term Mortgage Refinancing up to 96.5% of your homes value.

Consolidate first and second mortgages into a single loan. No FICO score OK Competitive rates for borrowers with a Bankruptcy older than two years. Competitive rates for borrowers with a Foreclosure older than three years. Easier credit and income qualifications. FHA regulated closing costs.

FHA Streamline Refinance your Florida FHA mortgage for existing FHA loans only.                

FHA has permitted streamline refinances on insured mortgages since the early 1980’s. The “streamline” refers only to the amount of documentation and underwriting that needs to be performed by the lender, and does not mean that there are no costs involved in the transaction. Florida FHA streamline advantages include

No Income or Credit Qualifications. Zero cost refinance options available. Easily switch amortization for adjustable to fixed or vice versa. Easily shorten or lengthen term of your existing loan. Easier credit and income qualifications.

FHASecure Refinance with current mortgage lates.

Refinance your mortgage at competitive rates even if you have a mortgage late on your credit that is directly due to adjusting mortgage. Qualify for refinance even if currently in foreclosure. Complete details of FHASecure loan.

Seniors Refinance Your Mortgages with a FHA reverse mortgage and Eliminate Your Mortgage Payments

If you are over 62 years old, you maybe able to refinance your existing mortgages and rid yourself of monthly mortgage payments. View current FHA reverse mortgage refinance guidelines.

Mortgage refinancing with a FHA loan is easy and advantageous for most homeowners. If you currently own a home and would like to discover your refinance options, please click here for a >> free mortgage refinance quote

FHA Mortgage Frequently Asked Questions

Why ask to refinance your Florida mortgage with an FHA-insured mortgage loan? There are many reasons to ask your Florida mortgage lender for an FHA-insured loan instead of a conventional loan or an expensive, risky subprime loan.

Lower cost – FHA-insured mortgage loans have competitive interest rates because the Federal Government insures private FHA approved mortgage lenders against loss. Always compare an FHA-insured loan with other loan types. Smaller down payment – The FHA offers Florida mortgage applicants a low down payment of only 3.5%, and that money can come from a family member, employer or charitable organization. Many other loans don’t allow this. Easier to qualify – Because the FHA insures your Florida mortgage, lenders are more willing to give loans with lower qualifying requirements, so it’s easier for you to qualify. Less than perfect credit – Even if you have had credit problems, such as bankruptcy, it’s easier for you to qualify for a Florida FHA mortgage loan than a conventional loan because FHA insures your mortgage. More protection to keep your home – The FHA mortgage loans been around since 1934 and will continue to protect Florida homebuyers and homeowners. Should you encounter hard times after buying your home, the FHA has many options to help keep you in your home and avoid foreclosure.

Florida FHA mortgage Refinance Specialist
Thomas Martin
http://www.fhamortgageprograms.com/mortgage/homeowner-refinance.shtml
http://www.fhamortgageprograms.com/florida/Pensacola/
http://www.fhamortgageprograms.com/florida/N-Ft-Myers/

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