First Time Real Estate Investing

You have probably read all the information on the market as it relates to real estate investing and are well aware that many of the world's millionaires made their fortunes in the real estate market. As a result I'm sure that you feel ready to throw your hat into the ring and begin your own real estate portfolio. There is certainly nothing wrong with this as an investment strategy though there are many wrong ways in which an investor can go about the process.

A good deal of what will be discussed here will relate to flipping properties though some of the information can be crossed over into rental properties and other types of real estate investment. Even personal property can be a real estate investment. Real estate is one of the few forms of investment in today's society in which you can actually see the changes as they are occurring.

It is truly amazing to watch a property that was once neglected and in a state of disrepair suddenly spark back to life right before your very eyes. There is a lot of work involved in this process though and this is often overlooked. Much like labor in light of birth. The pains are quickly forgotten when looking into the face of the outcome.

Keep these things in mind for your first time and you should be well on your way to future success. You should also realize that the first few investments are learning experiences more than anything else. If you do not achieve the success you were hoping for (or success to a lesser degree than hoped) you should not give up on the dream all together simply learn from the mistakes you will make along the way as well as the mistakes that others have made.

Real estate investing is not an exact science. There is no formula in this business that guarantees success. Even seasoned professionals will find the occasional bump in the road even on a property for which they had high expectations. Stuff happens along the way that cost money, delay the project, or set the project back. These things are stumbling blocks no doubt but should not be allowed to derail the entire project. When these things happens go back to your original plan, reassess the situation and create a new plan with the necessary adjustments in mind. The key is in sticking to a plan the entire time and never throwing the plan out the window and flying by the seat of your pants.

Your plan will be your lifeline throughout the project. You need to have a plan and a budget in writing. One great rule of thumb is that you set aside double the amount of money you plan for in your budget. This gives you a bit of a safety net for the inevitable things that will go wrong. Things will go wrong on almost every flip you encounter. Even the seasoned professionals that have television shows about their flipping efforts encounter problems in almost every single flip, rehab, or renovation.

For your first few investment purchases it is recommended that you purchase properties that need little more than minor cosmetic repair rather than complete rehabs or renovations. This allows you to get your feet wet without the incredible risk of going off the deep end mentally, emotionally, and financially. These properties represent lower profits but also lower risk. They also allow you to gain valuable experience and raise a little capital in which to invest in properties requiring more extensive work in the future.

Keep your eye on the carrot at the end of the project. Far too many would be property investors give up just before they reach the point of true profitability. The goal is the profit at the end of the project.

For more advice or to get pre-approved, please feel free to contact me.

New Bill Could Spell Trouble For Homebuyers!

The David Vitter bill could dramatically raise the FHA fees for our homebuyers. Become aware then become vocal to our leaders. Realtors, Mortgage Lenders, Appraisers, Title and Escrow officers, we need to become more active to stop more bills that could slow down, stop or even reverse any possible housing recovery.

New Bill Could Spell Trouble For Homebuyers!

Please share with your friends or family and post any comments or concerns you have below so we can become one voice.

December 2011 Views You Can Use

"Should old acquaintance be forgot, and never brought to mind?" - As we head into the final month of 2011, one thing that we can't forget and that keeps coming to mind is the strength of the economy. The articles below shed some light on the economy as a whole to offer a global perspective on where we're at…and what to look for in the near future:

• A Productive Year? – Where is the US economy as we finish 2011? The article below puts the answer into perspective.
• Let's Make A Deal – Discover last-minute deals that make the season bright!
• Q&A: Lessons from Europe? – Find out what we can learn from Europe…and how it impacts home loan rates.

Best wishes to you and yours this holiday season. If you have any questions or would like to discuss your unique situation, call or email today. And please forward this newsletter to friends, family members and coworkers who may find the information helpful.

A Productive Year?

One of the best ways to look at a snapshot of the overall US economy is to look at Gross Domestic Product (GDP), which measures the total production and consumption of goods and services in the US to shed light on the economy's behavior. Recently, we saw the second of three looks at the US's Third Quarter GDP.

The bad news was that the second reading was actually lowered to 2%, compared to the first reading of 2.5%. While that may not sound like much of a difference, it's a sizeable drop in GDP. And when we factor that drop into the year-over-year reading, GDP is an anemic 1.5%.

The good news is that we're not in a recession and the Third Quarter reading is still up from the First Quarter. But this very weak growth reading is not nearly enough to put a dent in the Unemployment Rate. Additionally, any external shock to the economy - for example, a deepening Euro crisis - could apply enough pressure to hit the US economy rather hard. This is very much like a person whose immune system is weak, which makes them extra susceptible to catching an illness that they might normally be able to fight off.

That said, the US economy is still much healthier than a lot of European countries, which are more like the walking dead…meandering slowly and living on borrowed time as ever growing debt literally buries them. Right now, Germany holds all the cards - and they want to wait and see if the troubled Euro member countries can truly invoke austerity and grow their way out of deficit.

The problem is that the market may not be that patient. Yields in Italy, Spain and Portugal have risen sharply in recent weeks, and the only thing keeping them from going higher still is that the European Central Bank has been buying Bonds from those countries. So the clock is ticking in Europe. In the very near future either the European Central Bank will have to print a ton of money to continue buying those Bonds…or some of these southern European countries may leave the Euro. As this story plays out, the US Dollar and US Bonds - and home loan rates overall - continue to benefit from a safe haven trade.

Let's Make A Deal: How to Save on Last-Minute Holiday Shopping

Black Friday has come and gone. But, if you're like most people, you probably still have a little holiday shopping left to do. Whether you're looking for small items like toys and clothing, big-ticket items like electronics or maybe a car, or even a plane ticket home to see the family, the following tips can help you save on your last-minute holiday purchases.

Toys, Electronics, Jewelry, and Even Groceries: Believe it or not, you can get the best deals on a wide variety of gift ideas without ever leaving your house. So whether you're looking for toddler toys, a big screen TV, a diamond necklace or even the groceries you need for that holiday feast, you should start by shopping online. For example, websites like PriceGrabber.com allow you to compare prices at popular stores. You can also save by printing coupons on the items you want by visiting websites such as Coupons.com and CouponMom.com. Finally, consider visiting sites like RetailMeNot.com that allow people to share coupons for thousands of popular stores and items.

Clothing: If you still need to buy a gift for a teenager, then the clothing store may be a good place to start. This time of year, you'll find tons of holiday specials that make last-minute shopping easy. But you'll want to plan out and time your trip to the mall. That's because when the weekend rolls around, just about every dressing room is filled...and the best deals have been picked over already. Why? It's simple. With the large number of special promotions to be marked and shelves to be stocked, most clothing stores get started early. And savvy shoppers, like you, can get the best deals and the best selection by Thursday evenings. As an added bonus, the stores, dressing rooms, and checkout lines aren't nearly as crowded - so you save on stress, too!

Cars: Perhaps you're in the market for a big-ticket item this holiday season. Lots of automakers and dealers offer special financing or holiday specials to help increase sales near the end of the year. When it comes to buying a car, you may already know that your best chance to negotiate a better price is at the end of a month when car dealers need to make their monthly quotas. But did you know you can drive home a great deal early in the week, especially during the morning? At that time, the dealerships aren't overflowing with shoppers like they are on the weekend, so you'll get more personalized attention. Plus, salespeople are more likely to negotiate when they don't have three or four other buyers waiting in the wings to pay full price.

Airplane Tickets: Still looking for a plane ticket to see friends and family members during the holiday season? In addition to looking for cheap airfare on sites like Priceline.com, Orbitz.com, and HotWire.com, remember to shop at the right times. For example, your best chance for saving is Wednesday morning. That's because airlines introduce their savings over the weekend and during the first few days of the week, subtle price wars begin. By early Wednesday, the savings have usually hit their peak...and there are still plenty of seats left for you to capitalize on. And remember, the more flexible you can be on your travel dates, the better chance you have of grabbing a good deal.

The moral of the story is that with a little planning, you can still save big on large and small items on your holiday shopping list.

Q&A: Lessons from Europe?

QUESTION:What can we learn from Europe's financial crisis?

ANSWER: The takeaway from Europe is just how quickly things can - and probably will - change. Unless the US government does something meaningful to address our own debt problems, we will see a price adjustment in the Bond market sometime in the future. Lately, US Bonds have been benefiting from the problems in Europe…and since home loan rates are tied to Bonds, home loan rates have also benefited. But this won't last forever. Somewhere down the road, something's gotta give, which means the near historically low home loan rates may be living on borrowed time.

If you have any questions about how the US economy or crisis in Europe impacts the home loan rate you can get, please call or email today. It will only take a few moments to discuss what's going on based on your unique goals and financial situation.

The material contained in this newsletter has been prepared by an independent third-party provider. The material provided is for informational and educational purposes only and should not be construed as investment, financial, real estate and/or mortgage advice. Although the material is deemed to be accurate and reliable, there is no guarantee it is without errors.

As your Trusted Advisor, I always want to make sure you are clear on all details of the home financing process. If you or someone you know are interested in purchasing or refinancing a home, give me a call today!

Buying Real Estate Foreclosures

When looking for a home for you and your family you will come across all kinds of deals, bargains, and so-called values along the way. If price is a very tangible object for you and your real estate investment then you might seriously want to consider the value of foreclosures. If you are hoping to invest in real estate in order to turn a profit then you may also wish to consider these properties that are often sold well below the ordinary value of the property because they are in varying degrees of disrepair.

Foreclosures are properties that have been taken back by the lenders because the previous owners were unable to continue making payments on the property. Being that these homes were often owned by those in financial distress and may have been empty for some time before being sold, chances are that the foreclosure homes being sold at any given time are in some degree of disrepair. The shabbiness of many of these properties is one of the factors that keeps the prices down. Another is the fact that the lenders are essentially attempting to recoup their investment in the property. For this reason they are often willing to take less than the value of the property if that is what is owed on the property.

Why are these properties often in a state of disrepair? Truthfully, there are many reasons but the primary culprit in this situation is money. Obviously the owners of the home were struggling to make the payments or the home would not be in the state of foreclosure. If the notes on the property were difficult to begin with it makes perfect sense that other issues such as leaking roofs, shabby carpeting, or plumbing maintenance would take a distant second in priority to making the house payment.

At the same time, there are those who are bitter about loosing their homes. As sad as the situation may be some add insult to injury by damaging these properties intentionally. These homeowners feel they have nothing left to loose and if they cannot have their property hole then the lenders should not as well. While this is by no means the way to go there are very many who choose this path over other options.

The fact is that their loss in these situations is actually your gain. The damage they do to the property is often not terribly expensive to repair though it can be quite bothersome. Your willingness to do the work in order to create a beautiful home for you and your family or as an investment can often translate to big savings at the closing table or when negotiating the price of the property. Foreclosures can allow families to buy larger homes in better neighborhoods than they would ordinarily be able to afford. They can also provide a fabulous kick-start to a property investment portfolio.

Despite common claims and Internet advertisements, you do not need to buy a list in order to find foreclosed real estate in your area. You simply need to procure the services of a competent realtor and let him or her know that your intentions are to purchase a foreclosed property or some other property that is selling well below market value. You might be amazed at the wealth of information and assistance your realtor can provide not only in finding excellent foreclosures but also when it comes to procuring financing for some of the more creatively damaged foreclosures you may run across at insane bargain prices.

Advice on Mortgages

When it comes to owning property many people around the world will tell you that this is a lifelong dream. While once an opportunity that seemed to be reserved for either the wealthiest or the most miserly among the general population home ownership is now something that is accessible to a larger segment of the population than ever before.

This is good news for many but for some can lead to confusing encounters with mortgage brokers and serious sharks along the way. The best advice that anyone can give someone attempting to embrace the dream of real estate ownership is to deal with a reputable company when it comes to obtaining a mortgage. Even when dealing with reputable lending companies you must watch out for those who do not have your best interest at heart.

If you would like some very practical advice when it comes to getting a mortgage, then you are at the right place. First of all, avoid lenders that are encouraging you to take a loan for more money than you are comfortable repaying. Foreclosures are at a record high when it comes to the mortgage industry at the moment because of predatory lending practice on behalf of some mortgage brokers. These practices include convincing people to borrow more money than they could realistically hope to pay over time and have any quality of life as well as convincing homebuyers to take out adjustable rate mortgages in the beginning in order to procure lower rates.

Shop around before you decide to buy when it comes to mortgages. This doesn't mean to actually apply for mortgages all over town but do the research and compare rates before applying with any one company. Talk to several different brokers and find out what they have to offer you that the other company down the road cannot or will not offer. Keep in mind that mortgage companies will offer everything under the sun from free toasters to free vacations in order to get you to go with their company. The proof is in the terms however. It is simply not worth that free toaster if you are going to end up paying a 6.9% interest rate instead of a 5.9% rate. You will have paid for that toaster many times over in the process of paying the mortgage.

Even after you've applied for a mortgage, if the deal seems to be going south check out your other options. There are all kinds of problems that crop up along the way. You are not marrying the mortgage broker. Nine times out of ten you aren't even making any sort of commitment at all to your mortgage broker. You will however be living in the house you select. If there is a problem with the mortgage company for the specific home you want do not hesitate to change in order to get the home you desire for your family rather than allowing the mortgage company to dictate what kind of home you can buy.

In all honesty, it is nearly impossible to buy a home in this day and age without taking out a mortgage. It is best however if you see the process as a learning experience rather than an object lesson in intimidation. This is your home and your money that will be spent in order to purchase the home. You are asking them for a loan but quite frankly, they need your business. Do not hesitate to shop around for the best deal with a mortgage just as you did when finding your home.

The Disconnect Between FHA And Their Product!

From the moment that FHA announced their dramatic increase in monthly MI that the streamlines would slow down. When you can lower your rate by over 1% but your payment does not move, what's the point of streamlining? That doesn't even take into account the 5% Net Tangible benefit that is required to even be able to streamline. I honestly think the FHA has no clue how their changes can effect the consumer. If your goal was to slow down streamlines to build up the reserves again, fine. Just admit that was your goal and not that streamlines would be fine it is just the Lenders not approving them. Seriously? We can only approve them based of the guidelines you provided to us. Hum....anyway, check out this video discussing this further.

The Disconnect Between FHA And Their Product!

Mortgage Market Guide Vol. 9 Issue 47

Last Week in Review: There was more negative news out of Europe and some positive economic news here in the US. But how did home loan rates fare?

Forecast for the Week: There will be plenty of news to gobble up before the Thanksgiving holiday, with reports on the housing market, the state of the economy, inflation, consumer sentiment, and more.

View: Planning to do some shopping on Black Friday? Be sure to check out these tips first.

Click here for this week's Mortgage Market Guide

Remember: Weak economic news normally causes money to flow out of Stocks and into Bonds, helping Bonds and home loan rates improve, while strong economic news normally has the opposite result.

The bottom line is that home loan rates are still near historic lows, which means now remains a great time to purchase or refinance a home. Let me know if I can answer any questions at all for you or your clients

Home Loans

Home loans make the process of buying a new home more affordable than ever. As you may already know, these types of loans give you many opportunities that wouldn’t be possible without them. When you buy a home, you should understand as much as you can about the process, as well as the questions you will be answering. This way, you’ll be familiar with how things work and you’ll find the entire process to go much smoother.

When you look towards a home purchase loan, you’ll need to fully understand the interest rates. They are never the same and will vary among the different financial institutions, as well as from time to time. In many cases, home loans can change on a frequent basis, with little to no notice. When you buy a home, it is very important that you keep up with the economy. Any change in interest rates for a home loan can either increase or decrease the amount you pay back.

When getting a home loan, you’ll also need to understand the terms and the length of the loan. Almost all financial institutions and lenders have a variety of different plans or periods for you to choose from. If you choose a longer period, in most cases your interest rate will drop. You can find this out yourself by using a mortgage calculator. This way, you’ll know how much your mortgage payment will be before you decide to further pursue the loan.

As you probably already know, your ability to pay the loan back is very important. Some lenders require that you keep your loan full term, while others may provide you with the option to pay it off any time you wish. Home loans that give you the option to pay it off early will normally save you quite a bit of money in the end. If you are able to pay your loan off several years early, you’ll save a lot of money in the long run.

Even though the early payoff option is great to have, it can also come back to haunt you if you end up defaulting on the home loan. Or, if you decide to sell your home in the future, the early payoff can haunt you as well. For those very reasons you should always consult with a specialist before you commit to any type of home loan.

For the potential home buyer, home loans offer several different opportunities. Before you rush out and get a home loan, you should always know what you are agreeing to. You should also look into the company you are thinking of getting the loan from as well, so that you can better prepare yourself when you go through their process of getting your loan.

Please feel free to contact me with any questions or concerns during your loan process. I would be honored to give you a free consultation to help you understand the options available to you and your family.

Mortgage Market Guide Vol. 9 Issue 45

Last Week in Review: The volatility out of Europe continued, along with the arrival of Friday's Jobs Report for October.

Forecast for the Week: It's a quiet week when it comes to economic reports, plus the Bond Market is closed Friday for Veterans Day.

View: Don't miss these special deals in honor of America's veterans.

Click here for the this week's Mortgage Market Guide

Remember: Weak economic news normally causes money to flow out of Stocks and into Bonds, helping Bonds and home loan rates improve, while strong economic news normally has the opposite result.

Buying Your Dream Home

Even though it’s not easy for everyone to buy a home, it is in fact easier than ever to get a home these days with most lending agencies and banks being more liberal than ever with providing home loans and mortgages. Even if you don’t have a lot of capital or a lot of money to put down, you can still get the home of your dreams at a very affordable price.

A lot of us think that buying a home is a tough process, needing a large down payment, although this isn’t always the case. Buying a home largely depends on your budget. If you put a down payment on your home purchase, it will go towards your overall purchase. The more money you put down on a home when you purchase, the lower your monthly payments will be.

Those of us who don’t own a home live in rental houses and apartments. This can be a worthwhile solution, although your still paying money towards your housing that you could instead be putting towards a home of your own. Owning a home is a dream for many of us, especially when it comes to that dream home that we all hope to own one day. Apartments and homes are great to rent - although most these days will cost you just as much as a mortgage payment - which doesn’t make any sense at all.

Instead, you can easily convert your rental payments into monthly installments towards your own home. All across the United States, you can find of lot of banks and lenders that offer easy to get loans for purchasing your own home or real estate property at low interest rates. With a lot interest rate, you can get the home of your dreams and enjoy low monthly payments.

Keep in mind, you need to choose a loan plan that’s best for you. You can go through bank, through a lender, or use a service online. There are many different ways that you can go, although real estate agents seem to be the most common now days. Good real estate agents will be more than willing to help you get a great deal on the home, at prices that are right for you. Anytime you buy a house, you should always plan ahead, get yourself a real estate agent, and then pursue your dream home.

If you plan your budget and take things one step at a time, you’ll be closer than you think to the home of your dreams. If you choose to keep renting and pay money toward something you don’t own - the home of your dreams will continue to slip away. Take action now and stop renting - find the home of your dreams and put your money towards owning it instead.

Mortgage Market Guide Issue 13

Last Week in Review: Europe and the Treasury Department impacted Bonds. Find out what it all means to home loan rates.

Forecast for the Week: This week will be busy from start to finish... but the biggest news will hit on Friday. Read the link below to learn why.

View: Mobile phone banking is convenient. But is it safe? Read these tips to help lower your risk!

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Remember: Weak economic news normally causes money to flow out of Stocks and into Bonds, helping Bonds and home loan rates improve, while strong economic news normally has the opposite result.

Senators Rally to Delay LO Compensation Fed Rule

If you are under the impression that the LO Compensation Fed Rule will only effect mortgage brokers, you would be mistaken. Click the link to view a video with an example of how this will touch each and every mortgage out there. Basically making the "perfect" borrower pay for the "not so perfect" borrowers.

Senators Rally to Delay LO Compensation Fed Rule

Real Estate Investing

There are many methods for building fortunes in the world today. One of the most accessible even for the common entrepreneur however is real estate investing. In fact, you will find many rags to riches stories are built by investing in the real estate marketing in one form or another if not many methods for investing in this lucrative but risky field.

Real estate is a great strategy for the investor who is willing to make the time to learn about the options, risks, and potential rewards for this type of investment process. Some of the more common real estate investments are the following:

1) Rental property. Property ordinarily gains value over time unlike many other investments that may rise and fall quickly and without warning. The problem is that far too few people can actually afford to hold and maintain multiple properties over an extended and indefinite period of time while waiting for the value to rise. Many property investors manage to overcome this by renting the properties to tenants during the time when the property values are rising. This allows the tenants to essentially cover the note on the property and makes the venture a little less risky though there are risks involved when dealing with tenants (such as property damage, failure to pay the rent, and possible legal woes-the good tenants generally outweigh the bad).

2) Pre-construction investment. This is a highly speculative and very risky sort of property investment that has booms and busts. Many investors recently discovered exactly how risky this endeavor actually is when the property 'bubble' went bust so to speak. The risks involved in this type of investment should not cover up the fact that many millionaires have been created through pre-construction investing and many more will be created in the future. Pre-construction investing, just as its name implies is a type of investment in which investors purchase 'options' on the property before ground is broken. This is very popular in high demand areas that are known to experience housing shortages as prices often rise quickly and the units are often sold before they are completed and any 'real' money exchanges hands.

3) Flipping houses. This is a type of property investment that has made leaps and bounds in the last few years thanks to the popularity of many popular home improvement and house flipping shows on cable networks in the last few years. More and more people have decided to pursue this sort of investment in hopes of creating big profits in a short amount of time and with minimal investment. The problem, of course, is that it always looks much easier on television than it is in person. Couple this with the fact that many people have unrealistic expectations when it comes to costs and ability and there are plenty of risks involved with this type of investment as well. For those who are successful however, there is the potential for great profit in a relatively short amount of time as these televisions shows indicate.

4) Buy and hold. As mentioned above, real estate tends to gain value over time. Even if the buildings are in desperate need of TLC and repair the very land they are standing on is more often than not gaining value as the years pass by. Purchasing large lots of land or even several houses and holding on to them for as long as possible before selling can often fund college educations for children, pay for weddings, or greatly supplement retirement funds. The longer these properties are held the better in most cases as this provides the greatest opportunity for the value of the property to increase.

5) Lease options. There are few people in this world who never experience rough spots financially. Many of these people are denied traditional home loans because of their inability to cover debts properly in the past. For this reason they are often willing to pay for the privilege of rebuilding their credit while working towards a path of home ownership. For these people, a lease option presents a workable and often valued solution. Those investors who are willing to take the risks often find the rewards are well worth those risks.

These are only some of the investment opportunities that exist for those who are interested in real estate for an investment avenue. There are commercial real estate endeavors that have the potential to bring in big profits as well as the development and planning of housing communities as well. Needless to say real estate investing offers many opportunities to the savvy investor.

Mortgage Market Guide Issue 11

Last Week in Review: Our hearts and minds - as well as the markets - were moved by the tsunami in Japan and unrest in Saudi Arabia. Read how both impacted Bonds and home loan rates!

Forecast for the Week: Double dose after double dose hits the news wires this week. Find out what to watch and why!

View: Discover the pros, cons, and interesting tidbits about Daylight Saving Time, which begins this week.

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Remember: Weak economic news normally causes money to flow out of Stocks and into Bonds, helping Bonds and home loan rates improve, while strong economic news normally has the opposite result.

So what should you do if you or someone you know is in the market for a new home?

The bottom line is that even if housing were to drop a little further in some areas, the affordability coming from today's rates serves as a backstop against any moderate price reduction. Remember, housing will likely be in a much better position in the second half of the year and at that time rates could be a bit higher. Now’s the time to take advantage of the combination of low rates and affordable housing. Call or email today to get started.

The FHA Energy Efficient Mortgage (EEM) Niche

FHA's Energy Efficient Mortgage (EEM) could be a cost saver for you. Click the link to view a quick overview of the program.

The FHA Energy Efficient Mortgage (EEM) Niche

Buying Unfinished Homes

Unfinished homes present a great way to save a lot of money and get you a new home in the process. If you buy an unfinished home, you can keep your monthly mortgage payment low and also lower your initial investment. You may also be able to buy a larger foundation size as well, which you can easily add on to and save money in the process.

Normally, unfinished starter homes leave the upstairs area unfinished. The question here is just how much equity you want to put into an unfinished area. Sometimes though, an unfinished home may leave the roofing, framing, plumbing, or electrical aspects unfinished. Before you make a purchase, you should always decide how much money you have to finish what needs to be finished.

If the home you are looking at has plans for a garage, you can save thousands if you decide not to go with the garage. On the other hand, if there is another attached room that is planned to go onto the house, you can save just as much if you decide to forgo it. There are always ways that you can save money just by looking at the plans. Unfinished homes may have other planned on additions as well, in which you can save a lot of money just by leaving them out.

There is something that you should always keep in mind. When builders acquire a piece of property that they plan to build a home on, they will do everything they can do make as much money as possible on their homes. You might be able to get them to agree to some of these ideas, although they probably won’t agree to all of them. Building homes can be a very profitable business - which is why most companies like to build their homes exactly as the plans call for.

When looking at unfinished homes, you also need to look at what banks are willing to accept. If you are planning to get a mortgage, most banks will need to ensure that the home is up to local codes and in living condition. What this means, is that there will need to be a living room, bedroom, and other rooms finished. If the home is lacking quite a bit in terms of being unfinished, most banks won’t give you a mortgage.

Most banks are also known to turn down unfinished home mortgages that they feel will have trouble selling in the event that you default. Normally, the entire downstairs area will need to be finished, along with most of the landscaping. You might be able to do some of it yourself and save money, although in most cases the homebuilder will need to do a majority of the topsoil and grass just to satisfy the bank. Banks have strict requirements when it comes to unfinished homes, which is why you should always check with your bank before you invest in an unfinished home.

As most of us already know, buying an unfinished home provides an excellent way to get into the housing market and get your very own home. Unfinished homes also allow potential buyers the chance to grow into their home along with their family. If you are interested in saving money, you should be sure to talk to the builder. This way, you can go over the plans and decide what doesn’t need to be there. In most cases you can save a lot of money and still get a home that will provide years and years of memories for yourself and your entire family.

203k Home Improvement Loans Part 2 of 2

Here is the 2nd video explaining the 203k Home Improvement Loans. Again, this is a great product designed to help you improve the property you are purchasing.

203k Home Improvement Loans Part 2 of 2

203k Home Improvement Loan Part 1 of 2

For those of you out looking for a new home but are seeing more and more properties that still need home improvements to meet your standards, this is the product you need. It allows you to get money to do the improvements you want to the home.

203k Home Improvement Loan Part 1 of 2

Boost Your Home's Sales Price By Spring: 10 Cheap Ways

MSN Real Estate has a good article today that fits right in with my earlier blog and wanted to link it over for you to have access to read it also.

http://realestate.msn.com/article.aspx?cp-documentid=23360384&GT1=35006

It goes over the 10 things you can do to help boost the listing price of your home. In today's market you need to use all the tools at your disposal to get your property sold.

Tips For Selling Your Home

Unlike other things that you may own, you can never take selling your home lightly. A house is a big commodity, one that is worth a lot of money. Before you even think about selling your home, you should put a lot of thought and consideration into it. Although you may want to sell your home - you should make sure that you do it the right way.

The first thing you should do when you are thinking of selling your home is to hire yourself a qualified real estate agent who knows the neighborhood. An agent who knows your neighborhood will known the ideal price for your home, and help you sell it at the ideal price. If your home is priced right for the neighborhood, chances are it will sell. If it is priced too high, you might not get any offers or anyone interested in buying the home.

Once you have a real estate agent, you and your agent will need to develop a strategy. You’ll need to decide on the price and how long you will leave it on the market before you think about a reduction. You’ll also need to discuss his commission as well, which will help to avoid any misunderstandings in the future. If you talk about these types of things when you first start out selling your home, you’ll find the entire process to go much smoother.

In some cases, you may run out of time before you are able to sell your home. In this situation, you may want to rent out your home. When you rent out your home, you may also be able to strike a deal with renters that your home is available for showing. To make the house accessible to potential buyers, you may want to offer your renters a lower price. This way, they will be more inclined to make the house available for potential buyers.

Keep in mind that selling your home will take you some time. You can also sell it yourself if you prefer, without a real estate agent. This can save you quite a bit of money as well, as you won’t have to pay a real estate agent. If you are planning to go this route, you should make sure that you know the value of your home and you know the neighborhood. You can put a “for sale by owner” sign in the yard, and list your home in local newspapers, and on the Internet as well. This way, you’ll get your home out to the market of potential buyers. Homes that are for sale by the owner are always great for buyers - as they can deal with the owner directly and not have to worry about dealing with any real estate agents.

Determine The Listing Price

When it comes to buying a home, most potential buyers will use the listing price to as the number one factor to determine the homes that they look at. Even though you and a realtor may determine the asking price, the buyer will determine the selling price. If the price is too high, most buyers won’t give it a second thought - which is why you want to determine the listing price carefully.

If you set the correct price, you’ll notice a much faster sale. Setting the right listing price will also attract more potential buyers to your property as well. You’ll also notice an increase in response from realtors, and receive more calls about the property. The listing price is very important - and it can ultimately determine whether or not you sale your property.

A home can be overpriced due to several reasons. Overpricing is something you want to avoid, as buyers tend to steer clear of homes that have been overpriced. Normally, this happens when a buyer asks a lot more than the home is worth or valued at. Some buyers ask a lot more than the value of the home due to location. Although the location is very important, most potential buyers won’t give the home a second look if they think the price is too high - and more importantly out of their price range.

When you put your home up for sale, most activity will happen within the first couple of weeks. If you put the right price on your home, you’ll notice immediate interest. There are always buyers looking for homes in their price range, waiting for new homes to be listed or homes to be reduced in price. Buyers who are waiting to purchase may miss seeing your home completely if the price is too high.

To determine the listing price of your home, you should always have it appraised before you put it on the market. This way, you’ll know the full value of your home. You can sell it for market value or go a little under, although you should never attempt to go way over the value. In doing so, you’ll miss out on a lot of potential buyers. The home market is very competitive these days, which is why you want your home to draw as much interest as possible. Let me know if you need a referral for a certified appraiser in your area. This may be the best investment you can make prior to listing your home if you are unsure what price to list for your property.

Keep in mind that realtors really have no control at all over the real estate market, only the plan behind marketing. Realtors don’t determine the asking price - the seller does. You can ask a realtor for advice, although you are the decider of your listing price. If you do things right and take each thing step by step, you’ll set the listing price in the right area and have no problems selling your property.

Mortgage Market Guide Issue 9

Last Week in Review: Mortgage Bonds were pushed and pulled by fear and uncertainty. Read what it means to home loan rates.

Forcast for the Week: It doesn't get much bigger than this! Here's a sneak peek of the high-impact reports due out this week.

View: You could slash your tax bill by up to $1,000 for each qualifying child! Read this week's guide for more information.

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Things To Know Before Buying A Home

If you are taking the next step in life and purchasing a home, chances are that you are feeling the pressure and the anxiety that goes along with this difficult decision. Those who buy homes are very anxious; eager to get any information they can about real estate. Before you buy a home, it always helps to learn all that you can.

The first thing you’ll need to do when buying a home is to find out just how much you can qualify for or afford to borrow. You should also make it a point to check your credit and know where you stand. If you have any problems, you should strive to correct them for you attempt to borrow money for a home. The higher credit rating you have, the lower your interest rates will be.

If you can, you should always attempt to get pre approved by a mortgage broker or lender, as this will show your commitment to the mortgage. Also make sure to look for any payment or prepayment options that can help you take a few years away from your mortgage. Once you have been pre approved for a mortgage and know where you stand with your monthly payments, you can start shopping for property.

When you shop for a home, you should only buy real estate that is perfect for you. Before you start looking, you should always make a list of everything you want your home to have, based on what you want and what you actually need. You should also make sure that you mark out any areas that you are willing to come to a compromise on, just in case you have to.

To assist you with finding the perfect home, you should enlist the services of a reputable real estate agent. When you meet with your agent, you will go over how much you are willing to spend, and what type of home you are looking for. You’re agent will know where ideal properties are, and help you find the home that is best for you.

Your agent will supply you with a list of potential properties that meet your budget and your features. Once you get the list, you should drive by the homes and check out both the home and the neighborhood. You should consider the appearance and location of the home, safety, access to the freeway, schools nearby, commute time to work, local shopping, and even recreational activities.

If you don’t find something that interests you the first time, you should keep looking until you find the home that is best for you. Your agent can help with tours of homes and such, even tell you information about neighborhoods that you aren’t familiar with. If you have chosen a good real estate agent, he will care about helping you find a home and go out of his way to ensure that you get exactly what you want.

To get the most from buying a home, you should always hire a real estate agent that you can trust. Your agent will go a long way in helping you buy a home, from finding properties to giving you pointers and tips along the way. Good real estate agents will care about your satisfaction, and will do all that they can to help you find the home of your dreams. You can always buy a home without a real estate agent, although it will take you longer and you won’t get the help and other amenities that a real estate agent will bring to the table.

Knowing When Your Ready To Buy

All across the United States, there are millions of people looking to a buy home - either now or in the future. Over the last few years, lower interest rates have come along, making it more affordable than ever to buy a home. When most people stop and give it some thought - buying a home makes a lot more sense than renting a home or an apartment.

In order to buy a house, you’ll need to start saving your money and have enough for the closing costs and a down payment. For an FHA loan your down payment will normally need to be around 3.5% of the price or the value of the property - whichever is lower. For conventional financing, you should always try to have 20% to put down. If you aren’t able to put 20% down, you’ll need to buy some private mortgage insurance, which will cost you more in terms of your monthly payment.

In most cases, the closing costs will run you around 4-5% of the property price. Before you purchase the home, you should always get an estimate. An estimate won’t be the exact price, although it will be really close. You should always plan to save up a bit more money than you need, just to be on the safe side. It’s always best to have more than enough than not enough.

You’ll know your ready to buy a home when you know exactly how much you can afford, and you’re willing to stick with your plan. When you buy a home and get your monthly mortgage payment, it shouldn’t be any more than 25% of your total monthly income. Although there are lenders out there who will say that you can afford to pay more, you should never let them talk you into doing so - but stick to your budget instead.

Keep in mind that there is always more money involved with a home other than the mortgage payment. You also have to pay for utilities, homeowners insurance, property taxes, and maintenance. Owning and caring for a home requires a lot of responsibility. If you’ve never owned a home before, it can take a bit of time to get used to.

Before you fill out any applications, you should always look over your credit report and check for any errors. Although you may think you don’t, you can easily get an error on your credit report and not even realize it. If you have an error on your credit report, it can cost you a lot of money in interest rates. An error will decrease your credit score, which will put you in a higher interest bracket and ultimately cost you a lot more money in the end. Therefore, you should always know your credit before you approach a lender.

If you check your credit report early enough, you may leave yourself enough time to fix any problems and get your credit back on track. Rebuilding credit can take time though, sometimes even years. You should always plan ahead - and give yourself plenty of time to fix your credit.

Buying a home will require a bit of commitment on your behalf. You should always strive to get the best possible deals, which means knowing your credit and where you stand. This way, you can get the best interest rates. You don’t want to buy a home with bad credit, simply because you’ll pay a lot more money for the home. If you take the time to fix any credit problems and save up some money - you’ll be able to get a much better home for your money.

Buying Real Estate For Your Family

The very best and most enjoyable reason to purchase real estate by far is buying a property in which your family will live and grow together. There is a lot of fun involved in finding the perfect place for you and your family to call home. There is also a great deal of stress involved as well and that should not be overlooked.

Some things to keep in mind when searching for the perfect property for your family are the following:

1) Make your first step the step of finding a realtor or buyer's agent that you are confident has your needs, desires, and best interests at heart. Your realtor can prove to be a lifesaver when you've reached the final hours before closing and the sky looks as though it's going to fall. Far more than that though, your realtor can help you find the home that you simply cannot see your family living without.

2) Once you've found a real estate that you trust to help you find a home for your family it is time to identify the things that are absolute necessities in your search and those things you can live without. The most important thing to decide upon is a budget that you are comfortable living with.

3) Once you've established a budget you need to decide the features that are important to meet the needs of your family. The number of bedrooms, bathrooms, square footage, and yard space. Do you need a fenced in yard or a basement? These things are important as they do affect the comfort and in some cases safety of your family.

4) Another important thing that must be considered when purchasing a home for your family is the neighborhood. This is more important than many people may realize. It is well worth having a smaller home in a neighborhood that is poised for growth rather than a larger home in a neighborhood that is in the state of decline or on the verge of the state of decline. Crime rates in the neighborhood and the school district are other things that need to be considered as well before deciding to view a potential home.

5) You should also take the time to look at several properties before deciding on one property over another. The more properties you see, the better the chances are that you will actually find the one perfect property for the needs of your family home. The more homes you see the more you will learn about your likes and dislikes. You will also get ideas about possibilities and things that can be added on to the home you eventually select. Regardless, the more homes you see, the more choices you have when the time comes to make a decision.

6) Never offer the asking price right away. Even if you are willing to pay the full asking price, offer something a little lower and allow some negotiating room. Be sure, if you truly want the house in question not to be insulting with your offer but make the offer just the same. Some things you may want to consider when you make your offer is how quickly you are likely to need a new roof, new flooring, new heating or air conditioning, and countless other improvements that may need to be made on the property. Each of these things costs money and they add up over time. If everything is fairly recent and in good working order you may want to consider that when making your offer as well.

You will find many houses along the way but few will reach out and impress themselves upon you as home. Those are the ones you should consider long and hard. Weigh the options, the prices, and your likes and dislikes. If you do all of this you should be well on your way to the home of your dreams.

Shopping Around?

If you or someone you know is looking or will be looking for a mortgage product, this is the article to read. I have just uploaded my document titled, "Shopping Around?" I point out some important things to consider when looking to purchase or refinance a mortgage. Rates can change quickly and if you don't stay on top of change then the difference in your rate can be significant. I want you to have all your resources available when you are making that big decission. Download for free and save or print and as always, feel free to pass this to someone who needs it. http://www.box.net/shared/gvfq4girz4

If you need some advice or just a second opinion Good Faith Estimate, just contact me. I would be honored to help you and your family.

Guide To Avoid Mortgage Mistakes

I am including a link to access my free Guide To Avoide Mortgage Mistakes. Please feel free to download or pass to friends, family or co-workers looking to purchase or refinance their homes. It is a great resource to help you with one of the biggest assets in your life. And as always, if you need help or advice I am just a phone call or click away. http://www.box.net/shared/j08gtlht4l

Tips For Buying Your First Home

If you're looking to buy a home for the very first time, this will have some information that will definitely be of great benefit to you. Even if this is not your first home purchase, you just might find some new and useful info here. Whether you're looking to purchase a HUD home, a pre foreclosed home, or a fixer-upper, you can find a lot of helpful tips and info on our site.

For a first time home buyer, the process can get quite overwhelming, giving you the feeling that the financial decisions are rapidly spinning out of control. When it comes to real estate, most people don't have a lot of experience or know a lot about it. In all actuality, buying a home is actually a simple process. All you need to do is understand the basics, which will go a long way in helping you buy your very first home.

The first thing you should know is to avoid pre-payment penalties at all costs. What this means, is that if you buy the home then later want to sell it before the balance of your mortgage is due, you'll have to pay a penalty. You can find a variety of great loans that don't include these types of penalties. If you find a loan that does include pre-payment penalties, you should immediately turn it down and look for another loan.

You should also be on the lookout for ARM's (adjustable rate mortgage). If you have an ARM loan, then your interest rate and monthly payment will adjust at pre-determined dates. This can cause payment shock or stress down the road. You need to be aware of the risks that go along with the reward of a lower payment now.

You'll also want to get pre-approved for your house as well. This lets the seller know that you are serious about buying, and will normally work in your favor to give an edge - which is especially handy if there are several others interested in purchasing the home. Getting pre-approved will also save you a lot of time as well. If you can't get approved for a loan, you shouldn't waste your time inspecting it, trying to get a good interest rate, or negotiating with the seller for your ideal price.

Before you purchase a home, you should always be aware of how much you can afford. Before you attempt to purchase a home, you should always go over your budget and figure out how much money you can spend on a mortgage payment. If you manage your money smart and know your finances, this shouldn't take you hardly any time at all. On the other hand, if you don't know your finances, this will take you a long time indeed.

Keep in mind that the above are just a few basic tips and that there are many other things you'll need to know before you buy your very first house. You'll need to be familiar with Private Mortgage Insurance, special loan programs, fixed rate and adjustable rate mortgages and several other things. Buying a home is an easy process, once you know a bit about it. If you familiarize yourself with buying a home and learn all that you can about what is involved, you'll find the home buying process to be easier than you ever thought possible.

Home Buying Checklist

Obtain pre-approval for a loan.
Narrow focus by location, cost and features.
Find a realtor.
Talk to neighbors, school and town officials around properties you are considering.
Schedule an appointment to see the home.
Make an offer, contingent on home inspection findings.
Shop around for the best interest rate and compare lenders' fees.
Purchase title insurance.
Review closing costs with your realtor.
Walk through your property to see that everything is in order before settlement.
Sign the papers and start packing!

We truly hope you find this information helpful, and that you'll be able to put it to use to your advantage. For a free quote, feel free to contact me. But as I said, don't stop here. Keep doing your research so that you can get the best house for the best deal.