Tuesday, April 3, 2012
Real estate investors now have the opportunity to take advantage of using a renovation mortgage loan to purchase investment property through a Fannie Mae HomeStyle® Renovation loan.
If you’ve been toying with the idea of moving some of your money into real estate investments, this information just might get you off the fence and into the game. Mortgage lenders experienced with and offering the 203K Renovation loan can now do these types of loans on conventional as well as FHA loans using the Fannie Mae HomeStyle® Renovation loan. The occupancy requirements of the borrower include not only buyers who will be occupying the home as a primary residence, but also buyers who are purchasing the property as a second home and buyers who are purchasing the property as an income or investment property. With the Fannie Mae HomeStyle® Renovation loan, real estate investors can now finance a property that customarily was a ‘cash …
Monday, March 12, 2012
Tips and observations for evaluating real estate investments opportunities in today's real estate market.
At the end of February billionaire Warren Buffett, commonly referred to and lauded as one of the most respected, successful investors in the world, told CNBC that if he were a young investor in the current market, with a choice of investing in the stock market or buying his first home, he would select buying a home as the wisest choice. Buffett went on to say that as a first time investor, if he had the opportunity, he’d buy as many single family homes at distressed pricing as he could, and then finance them with a 30 year mortgage (to take advantage of current low interest rates), and find someone to rent them. Buffett closed this part of the interview by stating that, in his opinion, that this type of real estate investing, leveraging a…
Tuesday, February 14, 2012
Announced on February 9, 2012, the $25 billion dollar National Mortgage Settlement Agreement is expected to benefit distressed homeowners in 49 states.
Last week President Obama announced the passing of the largest federal and state civil settlement in a decade. A $25 billion federal-state mortgage servicers settlement, between government officials, state attorneys general, and Bank of America, Citigroup, JPMorgan Chase, Wells Fargo and Ally Financial, was designed to help underwater and struggling homeowners who are upside down with their mortgage loans get back on their feet again and is projected to benefit nearly one million home owners. That number could increase if other mortgage servicers jump on board to be included in this settlement. Part of this settlement is a new set of banking guidelines that were written to prevent future abuses and bad practices that were, in part, …
Tuesday, December 20, 2011
2011 has proven, overall and for most of us, to be another challenging year. With encouraging signs of improvement, 2012 promises a smoother ride.
As we bid farewell to another year and prepare to greet a brand new one, tradition dictates that we look back on the important events from the past year, as we organize our plans to move forward into the new year. Like the previous year, 2011 has been an ongoing struggle for many residents of our state. But with positive signs of improvement, the year that lay before us may prove to be a smoother journey. Some observations of 2011 over 2010 and outlook for 2012: Statewide, the year ended in 2010 with the average unemployment rate at 11.5 percent. This year, statewide, we have gained positive momentum improving that percentage to our Year to Date figure for 2011 of 9.8 percent. The number of jobs, statewide, was up 98,100 showing an …
Tuesday, November 8, 2011
Changes planned for Homes Affordable Refinance Program (HARP) should make it easier for more homeowners to refinance their mortgages.
By Mike Koebel, Guest Columnist “I Want One of Those Obama Refi’s!” This was the opening statement in a telephone call to a mortgage lender earlier this week, after the announcement of HARP 2.0 (Home Affordable Refinance Program). The 1st HARP program fell far short of helping the number of underwater (owe more on your mortgage than the value of your home) homeowners than hoped for by the government. Thus, the Obama administration has asked that the program be tweaked to include improvements so that more homeowners will be helped. Although details of HARP 2.0 have not been fully announced, some anticipated improvements are: The buyback requirement in the 1st HARP program caused many lenders not to want to participate, leaving those …
Tuesday, October 25, 2011
A provision to an existing foreign visa bill already being considered in the U.S. Senate was proposed last week to boost real estate sales in the U.S.
A new provision to an immigration bill already being considered by the U.S. Senate was proposed last week by Senators, Chuck Schumer of New York, and Mike Lee, of Utah that would grant residence visas to foreign buyers spending a minimum of $500,000 to buy residential property in the U.S. The 'Resident Visa' provision to the immigration bill was written with the purpose of boosting and energizing the slow U.S. Housing market by encouraging foreigners to purchase U.S. real estate. If accepted, this provision would compliment other foreign visa actions proposed in the bill that would encourage more spending and capital investment by foreigners in the United States. Supporters of this proposed 'Resident Visa' provision believe this action …
Tuesday, October 11, 2011
Compare and discover new construction home opportunities for the Manatee County area.
If you are planning a home purchase, new construction homes are an option that should be considered. Below are just a few of many builder/new home community options and resources. But first, here are a few tips to keep in mind when purchasing new construction homes: Quick Move-Ins (Click-Quick Move Tabs on Page) River Strand at Heritage Harbour Classic Homes Estate Homes Coach Homes Classic Hm - Quick Move Estate Hm - Quick Move Coach Hm - Quick Move Mandalay, Wisteria Park, River Sound, Central Park, Miramar, Thornhill, Edenmore, Greystone, Silverwood, Belleisle Palma Sola Trace - Quick Move Crystal Lakes-Quick Move $137,990 to $189,990 Copperstone - townhomes Copperstone - Florida Series Oakleaf Hammock Copperstone townhome- …
Tuesday, October 4, 2011
It's condo season again in Florida. If a condo purchase is going to be part of your future keep reading for some great tips.
We are entering that season again when condominium home buying is beginning to heat up here in Florida. Whether you're considering the purchase of a condo for a permanent residence, part time/vacation home, or for a real estate investment, there are some important things to consider when making comparisons and before making that final decision. Here are just a few: Community amenities are important for enhancement and enjoyment of your chosen lifestyle. When purchasing your condo be sure to compare what different communities are offering in the way of amenities like: golf courses, clubhouse, country club / restaurants, pool / spa, tennis. Community amenities will go a long way in enhancing your family's satisfaction and long term happiness…
Tuesday, September 13, 2011
How healthy is the air in your home? Do you know? If not, it might be time to find out.
Most of us have spent lots of money, time, and energy furnishing, decorating, and maintaining our home. Appearance and comfort is important, but sometimes things that are crucially important to your family's happiness might not be readily apparent to the naked or untrained eye. How healthy is the air in your home? Do you know? If not, it might be time to find out. Here are some pointers for keeping the air in your home safer for the sake of your family's good health: If you suspect that you have a problem, contact a local, licensed, professional who specializes in mold and air quality testing. Some symptoms that your family may be suffering from 'sick house syndrome' are: Health is the one thing that, without it, nothing else really …
Tuesday, September 6, 2011
Don't neglect to match the perfect home with the perfect neighborhood. Lifestyle should be a top consideration.
Buying a home is about more than the structure that you live in. It's about neighbors, a school district, nearby amenities and your lifestyle. Here are some tips to help you choose wisely: Make a list of lifestyle/neighborhood priorities: This will require a family conference to establish a list of not only the desired home features, but also to identify what types of amenities your chosen neighborhood will need in order to satisfy your family's lifestyle profile. Are you avid golfers or do you prefer beach activities? Would you feel most comfortable in a gated community or does that type of community feel too restricted to suit your free spirited lifestyle? Do you own a motor-home, motorcycle, truck or other type of vehicle that might …
Bill Blanchard
6:23 pm on Sunday, November 25, 2012
Wendy, just read the article. Thank you. Do you have a HomeStyle lender rep in the Chicago area? Bill more ›