ShareThis
Posted using ShareThis
Saturday, December 26, 2009
Monday, December 21, 2009
Wednesday, October 7, 2009
Many Renters can be Home Owners
Many Renters can be Home Owners
The $8,000.00 tax credit is still available until the end of
November for those who close and have not owned a house in the past three
years.
Interest rates have just dropped again. Call me, and I
will put connect you with a lender who will present you with the facts for a
program that fits your situation. It is necessary to be pre approved
http://www.stcharleshousing.com/get-pre-approved
There are several communities that have programs to assist
with down payments.
http://www.stcharleshousing.com/down-payment-programs and several agencies
that will assist
http://www.stcharleshousing.com/home-buyers-needs
If you are unfamiliar with the buying process take a look at
http://www.stcharleshousing.com/home-buyers-guide
Take a look at what is available on the market in your price
range at
page_203587.html
or to search the MLS use
http://dwightpuntigan.point2agent.com/Search_MLS_Listings/page_203592.html
I will do this for you if you contact:
Dwight Puntigan
River City Real Estate
1014 Country Club Road
St Charles, Mo. 63303
636-219-6242
Tuesday, October 6, 2009
Monday, September 28, 2009
Monday, September 21, 2009
St Charles Housing has moved to a new hosting service
My web site has moved and is gradually improving its content and benefit to you. There are multiple property searches. Every page allows you to enter an MLS number and retrieve information.
The one I like the best is Property Search .
I have a Commercial Property Search that many times has differnt listings than the MLS for commercial.
Use the Map Search to pin point geographic areas.
To send me a message use the Contact Us button
Do not forget I will always schedule doing a valuation for your home.
Thursday, August 20, 2009
Monday, August 17, 2009
Knowing about your Credit Score
A couple years ago I used this article in the News & Tid Bits that I sent out. Much of it looks to still be applicable. If you have issues, or anticipate them call me. Depending on the topic there are some wonderful professionals that I can put you in touch with. However, as it affects your real estate, your home, buying or selling, refinancing, relocating, etc I have tools available for various situations that could help if we are able to deal with the problems soon enough.
Call:
Dwight Puntigan
River City Real Estate
1014 Country Club Road
St. Charles, Mo. 63303
636-219-6242
http://dwightpuntigan.point2agent.com/
http://www.StCharlesHousing.com
http://fixingthehousingmarket.blogspot.com/
Most emphasis is placed on recent information. For example, a late payment one month ago is weightier than a late payment a year ago. Therefore, time will gradually 'heal' bad credit; every month that passes helps.
The longer an account is open and the more payments that have been made on time, the more points you earn. Thus, taking a new auto loan (installment credit) will lower your score at first, because longevity has not been established and because the balance in proportion to the limit is high. (People buying houses should wait to take out a loan for furniture, appliances, auto, SUV, boat, Jet Ski, etc. until after their home loan is closed.)
Late payments and collection accounts have a major negative impact on the credit score. Collections, or charge-offs, are especially damaging. Even after a collection has been paid off with a zero balance, the fact that it is on your report will significantly lower your score for several years. A ten dollar collection last month can be more damaging than a three year old bankruptcy!
Frequent delinquent payments are more damaging than an isolated delinquency. Also, sporadic late payments (a 30 day late last month and a 30 day late three months ago) are more damaging than successive late payments, (successive 30 day late payments are called a "rolling 30" and it counts as only one late) because of how it reflects on a person's financial habits.
How severely delinquent the payment was (30 days, 60 days, 90 days) affects the credit score. The more severe the delinquency, the more damaging it is to the score. (Late payments less than 30 days late are not reported.) Utility companies do not report late payments unless they go to collection. Therefore if you have to be late on something, be late with the utilities! (Be sure to make satisfactory arrangements to pay the account current.)
Chapter 7 and Chapter 13 bankruptcies affect your credit score equally. More points are not awarded for debt reorganization Chapter 13.
Having more than three open bank cards lowers your score. Having less than three bank cards, will not give you as high a score as having three. Therefore, three open bank cards, all with low balances, are one way to raise your score. But do not close any open accounts after they are open, unless the company terms are no longer favorable. It will reduce the amount of available credit and have a negative influence on overall debt ratios. A person who has $50,000.00 in available credit and is using $30,000.00 will have lower scores after they close several "unused" accounts and only have $40,000.00 in available credit.
Credit balances up to or close to the limit will lower your score, even if all payments have been on time. Therefore, it is better to have several accounts with small balances than one or two accounts with large balances. (Balances should be 0% - 30% of the allowed limit for the best score.) There is a modest hit to score at a 50% balance compared to credit limit. There is a major hit to score at a 75% or higher balance. If balances are carried for some time at 75% or higher it will be impossible to maintain scores over 700.
SPECIAL NOTE! Accounts that are "maxed out" each month, (even if they are paid off each month) will hurt a score. The system will only recognize balances under 30% AT THE TIME OF THE CREDIT PULL for the best score! The solution is to get a limit raised, and only borrow up to the 30% limit.
The proportion of your debt to your income is not counted, because it is illegal to consider income; therefore, people with high incomes who can easily afford to carry a lot of debt will be docked on their scores the same as others for having high balances and/or more than three bank accounts.
Having no revolving credit accounts at all will hurt your score.
When applying for a mortgage loan, mortgage payment history is considered far more important than credit cards or installment loans.
Credit card payment history (revolving credit) is more important than installment loans. Therefore, it is better to pay down credit cards before paying down installment or auto loans.
Having a finance company loan on your credit report will lower your credit score. Having two finance company loans is worse; having three or more is worse still. (A regular auto loan is not considered to be in this category of loan.) Beware of furniture companies, electronics companies, lumber yards and others who set up financing with a finance company. Finance company loans are designed for people who cannot get funds elsewhere, hence the expression "hard money loans."
Debt management companies such as Consumer Credit Counseling reported on your file may significantly lower your credit score. Some creditors will report your payments as being late the entire time you are in CCC because they do not receive full payments each month. Some lenders consider being in a debt management program like being in a self-made chapter 13 bankruptcy.
Repossession, including a voluntary repossession, is a major negative and will damage your credit significantly. Whose fault it was has no bearing on a credit score or in a loan approval.
A mortgage foreclosure is even more credit damaging than a bankruptcy in the eyes of a mortgage lender.
Closing off all accounts and having no open credit will lower your score. Keep longstanding accounts open to improve your score (even with zero balance). Use revolving credit at least every six months. Don't pay cash when you can use credit. Just pay off the account each month. Carrying balances on revolving accounts does not build credit. Paying on time each month builds the credit score.
You can rate shop without hurting your score: All mortgage loan inquiries and all auto loan inquiries within a 14-day period are treated as one inquiry. It is assumed that you are shopping for just one mortgage or just one automobile at a time. The exception to this can occur when some of your inquiries are before and some are after the date of the credit bureaus' monthly update. (Usually around the third week of the month). Most updates occur starting the 24th or the 25th of the month.
Multiple inquires from credit card companies (revolving credit) will lower your score. A person may be looking to open several lines of credit and significantly increase their debt. The trap is "apply for an account and get 20% off your purchase." Yes you got a "deal" and you "dinged" your credit at the same time! Three in a month will burn your score!
Age is not a factor in credit approval; however, length of time that credit is held is a factor. Therefore, maintain your accounts for a long period of time. Be sure to use the account occasionally. Never close an account, unless the terms are unbearable.
Rent does not appear on your credit report. However, when you apply for a mortgage, the lender will request a verification of your rent payment history and consider it heavily in the decision to grant a loan. Therefore, paying rent on time is extremely important when applying for a home loan. It is very important to keep all of your payment records for at least two years. Sometimes cancelled checks are the only recourse!
Length of time from the last delinquent payment, paid off collection, discharged bankruptcy, or other negative report is a factor, so the more time you have been building good credit since then, the better your score will be. An account is damaged by misuse of credit. Proper use of credit is the only way to improve the credit score. You fell "off the horse", get right back on!)
"Credit surfing" or paying off one credit card with another and then another in a rotating fashion, does not look good. It hurts your score because of multiple revolving account inquiries and the short length of time the accounts are open.
You may request a copy of your own credit report without it affecting your score.
Credit card companies and insurance companies sometimes look at credit files to determine who to mail solicitations to. This does not affect your credit score. However, you may request to be excluded from these solicitations.
Everyone has their own individual score. Married persons do not share a score. Therefore, everyone needs to have some credit established in their own name and be responsible for the management of their own credit. (Credit accounts may be held jointly in both names or individually). It is possible to be only an "authorized user" on an account. This type of account can be excluded from the debt ratio! Having several names and addresses for yourself on a credit report will lower your score. This would apply to people who have moved a lot within the past seven years and people who have credit in multiple names such as: Bob Jones, Robert E. Jones, R. Edward Jones, Bobby Jones; or Joanne Smith, Jo Smith, Joan Smith, Joanne K. Smith, Joanne Kathleen Smith, J. Kathleen Smith, Joanne Martin (Maiden name);. If you clear off all the names and addresses except one, your score could go up 20-30 points instantly!
Late payments and collections may remain on a credit report for seven years. Bankruptcies may remain on a credit report for up to ten years. Unpaid tax liens and unpaid civil judgments can remain indefinitely.
Although profession does not affect your credit score, some institutions disfavor certain ones because of their experiences in the past with late payments. Occupations in disfavor are those, which have unstable income, periods of no income, seasonal work, and frequent job changes. In addition, some lenders charge an extra fee to self-employed borrowers, because self-employment carries a higher risk factor.
When first establishing credit It is easier to open department store cards or gasoline cards than it is to open a bank card. Make sure the new card company reports to a credit bureau!
Consider taking out a small personal loan at a bank and deposit the money into a savings account at the same bank as collateral for the loan to help get credit established. The account needs to report for at least six months to be effective. Be sure that the loan is with a "reporting" bank. It is no help to have a loan with a bank that doesn't report to a bureau!
For Listings http://dwightpuntigan.point2agent.com/Popular_Searches/page_203587.html
or to search the MLS Yourself use http://dwightpuntigan.point2agent.com/Search_MLS_Listings/page_203592.html
Call:
Dwight Puntigan
River City Real Estate
1014 Country Club Road
St. Charles, Mo. 63303
636-219-6242
http://dwightpuntigan.point2agent.com/
http://www.StCharlesHousing.com
http://fixingthehousingmarket.blogspot.com/
Most emphasis is placed on recent information. For example, a late payment one month ago is weightier than a late payment a year ago. Therefore, time will gradually 'heal' bad credit; every month that passes helps.
The longer an account is open and the more payments that have been made on time, the more points you earn. Thus, taking a new auto loan (installment credit) will lower your score at first, because longevity has not been established and because the balance in proportion to the limit is high. (People buying houses should wait to take out a loan for furniture, appliances, auto, SUV, boat, Jet Ski, etc. until after their home loan is closed.)
Late payments and collection accounts have a major negative impact on the credit score. Collections, or charge-offs, are especially damaging. Even after a collection has been paid off with a zero balance, the fact that it is on your report will significantly lower your score for several years. A ten dollar collection last month can be more damaging than a three year old bankruptcy!
Frequent delinquent payments are more damaging than an isolated delinquency. Also, sporadic late payments (a 30 day late last month and a 30 day late three months ago) are more damaging than successive late payments, (successive 30 day late payments are called a "rolling 30" and it counts as only one late) because of how it reflects on a person's financial habits.
How severely delinquent the payment was (30 days, 60 days, 90 days) affects the credit score. The more severe the delinquency, the more damaging it is to the score. (Late payments less than 30 days late are not reported.) Utility companies do not report late payments unless they go to collection. Therefore if you have to be late on something, be late with the utilities! (Be sure to make satisfactory arrangements to pay the account current.)
Chapter 7 and Chapter 13 bankruptcies affect your credit score equally. More points are not awarded for debt reorganization Chapter 13.
Having more than three open bank cards lowers your score. Having less than three bank cards, will not give you as high a score as having three. Therefore, three open bank cards, all with low balances, are one way to raise your score. But do not close any open accounts after they are open, unless the company terms are no longer favorable. It will reduce the amount of available credit and have a negative influence on overall debt ratios. A person who has $50,000.00 in available credit and is using $30,000.00 will have lower scores after they close several "unused" accounts and only have $40,000.00 in available credit.
Credit balances up to or close to the limit will lower your score, even if all payments have been on time. Therefore, it is better to have several accounts with small balances than one or two accounts with large balances. (Balances should be 0% - 30% of the allowed limit for the best score.) There is a modest hit to score at a 50% balance compared to credit limit. There is a major hit to score at a 75% or higher balance. If balances are carried for some time at 75% or higher it will be impossible to maintain scores over 700.
SPECIAL NOTE! Accounts that are "maxed out" each month, (even if they are paid off each month) will hurt a score. The system will only recognize balances under 30% AT THE TIME OF THE CREDIT PULL for the best score! The solution is to get a limit raised, and only borrow up to the 30% limit.
The proportion of your debt to your income is not counted, because it is illegal to consider income; therefore, people with high incomes who can easily afford to carry a lot of debt will be docked on their scores the same as others for having high balances and/or more than three bank accounts.
Having no revolving credit accounts at all will hurt your score.
When applying for a mortgage loan, mortgage payment history is considered far more important than credit cards or installment loans.
Credit card payment history (revolving credit) is more important than installment loans. Therefore, it is better to pay down credit cards before paying down installment or auto loans.
Having a finance company loan on your credit report will lower your credit score. Having two finance company loans is worse; having three or more is worse still. (A regular auto loan is not considered to be in this category of loan.) Beware of furniture companies, electronics companies, lumber yards and others who set up financing with a finance company. Finance company loans are designed for people who cannot get funds elsewhere, hence the expression "hard money loans."
Debt management companies such as Consumer Credit Counseling reported on your file may significantly lower your credit score. Some creditors will report your payments as being late the entire time you are in CCC because they do not receive full payments each month. Some lenders consider being in a debt management program like being in a self-made chapter 13 bankruptcy.
Repossession, including a voluntary repossession, is a major negative and will damage your credit significantly. Whose fault it was has no bearing on a credit score or in a loan approval.
A mortgage foreclosure is even more credit damaging than a bankruptcy in the eyes of a mortgage lender.
Closing off all accounts and having no open credit will lower your score. Keep longstanding accounts open to improve your score (even with zero balance). Use revolving credit at least every six months. Don't pay cash when you can use credit. Just pay off the account each month. Carrying balances on revolving accounts does not build credit. Paying on time each month builds the credit score.
You can rate shop without hurting your score: All mortgage loan inquiries and all auto loan inquiries within a 14-day period are treated as one inquiry. It is assumed that you are shopping for just one mortgage or just one automobile at a time. The exception to this can occur when some of your inquiries are before and some are after the date of the credit bureaus' monthly update. (Usually around the third week of the month). Most updates occur starting the 24th or the 25th of the month.
Multiple inquires from credit card companies (revolving credit) will lower your score. A person may be looking to open several lines of credit and significantly increase their debt. The trap is "apply for an account and get 20% off your purchase." Yes you got a "deal" and you "dinged" your credit at the same time! Three in a month will burn your score!
Age is not a factor in credit approval; however, length of time that credit is held is a factor. Therefore, maintain your accounts for a long period of time. Be sure to use the account occasionally. Never close an account, unless the terms are unbearable.
Rent does not appear on your credit report. However, when you apply for a mortgage, the lender will request a verification of your rent payment history and consider it heavily in the decision to grant a loan. Therefore, paying rent on time is extremely important when applying for a home loan. It is very important to keep all of your payment records for at least two years. Sometimes cancelled checks are the only recourse!
Length of time from the last delinquent payment, paid off collection, discharged bankruptcy, or other negative report is a factor, so the more time you have been building good credit since then, the better your score will be. An account is damaged by misuse of credit. Proper use of credit is the only way to improve the credit score. You fell "off the horse", get right back on!)
"Credit surfing" or paying off one credit card with another and then another in a rotating fashion, does not look good. It hurts your score because of multiple revolving account inquiries and the short length of time the accounts are open.
You may request a copy of your own credit report without it affecting your score.
Credit card companies and insurance companies sometimes look at credit files to determine who to mail solicitations to. This does not affect your credit score. However, you may request to be excluded from these solicitations.
Everyone has their own individual score. Married persons do not share a score. Therefore, everyone needs to have some credit established in their own name and be responsible for the management of their own credit. (Credit accounts may be held jointly in both names or individually). It is possible to be only an "authorized user" on an account. This type of account can be excluded from the debt ratio! Having several names and addresses for yourself on a credit report will lower your score. This would apply to people who have moved a lot within the past seven years and people who have credit in multiple names such as: Bob Jones, Robert E. Jones, R. Edward Jones, Bobby Jones; or Joanne Smith, Jo Smith, Joan Smith, Joanne K. Smith, Joanne Kathleen Smith, J. Kathleen Smith, Joanne Martin (Maiden name);. If you clear off all the names and addresses except one, your score could go up 20-30 points instantly!
Late payments and collections may remain on a credit report for seven years. Bankruptcies may remain on a credit report for up to ten years. Unpaid tax liens and unpaid civil judgments can remain indefinitely.
Although profession does not affect your credit score, some institutions disfavor certain ones because of their experiences in the past with late payments. Occupations in disfavor are those, which have unstable income, periods of no income, seasonal work, and frequent job changes. In addition, some lenders charge an extra fee to self-employed borrowers, because self-employment carries a higher risk factor.
When first establishing credit It is easier to open department store cards or gasoline cards than it is to open a bank card. Make sure the new card company reports to a credit bureau!
Consider taking out a small personal loan at a bank and deposit the money into a savings account at the same bank as collateral for the loan to help get credit established. The account needs to report for at least six months to be effective. Be sure that the loan is with a "reporting" bank. It is no help to have a loan with a bank that doesn't report to a bureau!
For Listings http://dwightpuntigan.point2agent.com/Popular_Searches/page_203587.html
or to search the MLS Yourself use http://dwightpuntigan.point2agent.com/Search_MLS_Listings/page_203592.html
Saturday, June 27, 2009
Your Plans Your Builder 5 acres
Your Plans Your Builder 5 acres
| $54,950 Location: Paisley Plc Wright City, MO 63390 | Lots and Lands Lot: 235,224 sqft
|
Description
Acreage to build on in a private setting, yet close to Interstate 70. The front part of the lot is an open area with enough slope to build a walkout out or an atrium style home as some of the neighbors have done. About halfway back on the lot is a small pond that the cattle used to use. The back part of the lot is overgrown with brush, but has some trees worth saving. The lot backs to Innsbrook, and has a view of fairway and green. There are several lakes and ponds in the area.
Click here for aVirtual
Tour of this listing.
View Details
Paisley Plc.
Home Buyer's Guide
Down payment Programs
Marketing Your Home
Need a Family Budget
Contact Me
Exit Interstate 70 at Foristell, South on Hwy T to right on Hwy OO, to right (north) on Hwy M, turn left on South Lohman, to right on Paisley Place. Email me to get more specifics and map
Electric and Phone are available Could be a Park Like setting.
Horses are Welcome
Only 25 minutes from St. Peters
Photos
Features
- Lots and Lands
- Horses Welcome
Neighborhood Info
Boone Trail Estates is a small subdivision of about 18 lots. There are presently about half a dozen houses. Across the road from this lot is a small lake. There is no through traffic.
Listed by
 | Dwight Puntigan River City Real Estate Phone: (636) 219-6242 Listing agent/broker: River City Real Estate |
Friday, June 19, 2009
Wanted - Acreage - anywhere south of St Louis
Retiree from Colorado needs 10 acres or more fenced, with barn, utilities, small house for 55k to 110k with seller financing or rent to own or lease purchase.� Location almost anywhere the land lays decently and perhaps has pond or such with year around water.If you are retiring to the city and need income or if you are an out of state owner that needs an exit capability call me at 636-219-6242 or email dpuntiga@charter.net
Thank you,
Dwight Puntigan
River City Real Estate
636-219-6242 Cell
800-689-6991 Fax
http://DwightPuntigan.Point2Agent.com
http://www.StCharlesHousing.com
http://seniorplanningdwightpuntigan.com/
http://stpetersrealestateinvestment.2trom.com/
Retiree from Colorado needs 10 acres or more fenced, with barn, utilities, small house for 55k to 110k with seller financing or rent to own or lease purchase.� Location almost anywhere the land lays decently and perhaps has pond or such with year around water.If you are retiring to the city and need income or if you are an out of state owner that needs an exit capability call me at 636-219-6242 or email dpuntiga@charter.net
Thank you,
Dwight Puntigan
River City Real Estate
636-219-6242 Cell
800-689-6991 Fax
http://DwightPuntigan.Point2Agent.com
http://www.StCharlesHousing.com
http://seniorplanningdwightpuntigan.com/
http://stpetersrealestateinvestment.2trom.com/
Thursday, June 11, 2009
Incentive to buy Foreclosures
Contact :
Dwight Puntigan
River City Real Estate
1014 Country Club Road
St Charles, Mo 63303
636-219-6242
Ask me for a lender that works this program
Immediate $15k Credit At Closing To Buy Foreclosures in Missouri
Quick Links
Foreclosure and Short Sale Buying Tips
Housing Data Updates
What Is A Short Sale?
Contact Us
Tools
Home Hunter
Downpayment Assistance
Your Homes Value
State Of Missouri Offers $15k Downpayment Credit To Buy Foreclosures
AVAILABLE IMMEDIATLEY FOR A SHORT TIME ONLY!
You must act VERY FAST. The State has opened up $4.2Million to help get foreclosures off the market asap. You do NOT need to be a first time homebuyer to qualify. However if you are you still qualify for the $8000 tax credit on top of this $15k. This could not possibly be a better time to buy.
A Few Details:
No need to be first time homebuyer
Still get $8000 tax credit if applicable
Offered as forgivable 2nd loan (0% interest, no payments, and removed after owning home 5 years.)
Will give up to 20% of the purchase price or $15k whichever is less
Must be for a primary residence
Must lock in your place immediately
Click Here For Info From the State of Missouri
636-946-7273
or Toll Free: 866-456-1862
The last time a program like this was offered, money was gone that week. Don't let this opportunity pass you by.
Dwight Puntigan
River City Real Estate
1014 Country Club Road
St Charles, Mo 63303
636-219-6242
Ask me for a lender that works this program
Immediate $15k Credit At Closing To Buy Foreclosures in Missouri
Quick Links
Foreclosure and Short Sale Buying Tips
Housing Data Updates
What Is A Short Sale?
Contact Us
Tools
Home Hunter
Downpayment Assistance
Your Homes Value
State Of Missouri Offers $15k Downpayment Credit To Buy Foreclosures
AVAILABLE IMMEDIATLEY FOR A SHORT TIME ONLY!
You must act VERY FAST. The State has opened up $4.2Million to help get foreclosures off the market asap. You do NOT need to be a first time homebuyer to qualify. However if you are you still qualify for the $8000 tax credit on top of this $15k. This could not possibly be a better time to buy.
A Few Details:
No need to be first time homebuyer
Still get $8000 tax credit if applicable
Offered as forgivable 2nd loan (0% interest, no payments, and removed after owning home 5 years.)
Will give up to 20% of the purchase price or $15k whichever is less
Must be for a primary residence
Must lock in your place immediately
Click Here For Info From the State of Missouri
636-946-7273
or Toll Free: 866-456-1862
The last time a program like this was offered, money was gone that week. Don't let this opportunity pass you by.
Wednesday, May 27, 2009
Local Realtor does not make it work
My client worked hard to attend classes, improve their credit report, obtain section 8 voucher, and then obtain financing from a local bank. Terms on the loan were set to allow it to conform for resale to Fannie or Freddie. Client has worked hard to qualify and bank has adhered to conservative lending procedure.
Client contacted me to help find property that would satisfy their requirements and provide a home for the coming years.
Three bedroom, two baths are needed due to family size and near term needs for privacy. Garage is needed for security and logistics. A full basement is needed for storage. A fenced yard is needed for existing pets. A brick home is desired by the client and is practical for lower maintenance. There are additional interior amenities that will make a difference. Such as hardwood flooring, main floor laundry, fire place and family room or recreation room. This also needs to be a ranch style building. This is a fine description of a home that will suit their present and future needs.
One requirement is that the house be in move in condition so that it will pass Section 8 inspection. This is a rational requirement to insure that folks actually receive housing that is livable. In my clients price range this house is only available in one part of the metropolitan area. This creates a travel problem for work, school, and family. To obtain a little more house in the price range the client chose a HUD home that was in reasonable insurable condition. We were able to obtain an FHA approval with a 3% down requirement. Our offer was not the best offer so we needed to look again.
This area of town really needs to have an influx of home owners that will be able to afford the homes, and have pride in the neighborhood. Market value of many of the houses we looked at would have been 150k to 200k three years ago. We are shopping at 70k. Since the property has been unoccupied property tax is low, however the monthly escrow will rise nearly 200 a month next year. Most people like my client can not afford that increase. With the costs of services rising as fast as they are the county will have to raise tax higher which will cause a continued downward spiral in the affordability of housing in this area. My client wants to go back to the bank loan thinking that the cost of the money was less. However, that loan required much more than the 3% down for FHA and would more than deplete my clients savings that are needed as a fallback position.
Well now unemployment has cost our economy one more homeowner. My client has lost her job.
Client contacted me to help find property that would satisfy their requirements and provide a home for the coming years.
Three bedroom, two baths are needed due to family size and near term needs for privacy. Garage is needed for security and logistics. A full basement is needed for storage. A fenced yard is needed for existing pets. A brick home is desired by the client and is practical for lower maintenance. There are additional interior amenities that will make a difference. Such as hardwood flooring, main floor laundry, fire place and family room or recreation room. This also needs to be a ranch style building. This is a fine description of a home that will suit their present and future needs.
One requirement is that the house be in move in condition so that it will pass Section 8 inspection. This is a rational requirement to insure that folks actually receive housing that is livable. In my clients price range this house is only available in one part of the metropolitan area. This creates a travel problem for work, school, and family. To obtain a little more house in the price range the client chose a HUD home that was in reasonable insurable condition. We were able to obtain an FHA approval with a 3% down requirement. Our offer was not the best offer so we needed to look again.
This area of town really needs to have an influx of home owners that will be able to afford the homes, and have pride in the neighborhood. Market value of many of the houses we looked at would have been 150k to 200k three years ago. We are shopping at 70k. Since the property has been unoccupied property tax is low, however the monthly escrow will rise nearly 200 a month next year. Most people like my client can not afford that increase. With the costs of services rising as fast as they are the county will have to raise tax higher which will cause a continued downward spiral in the affordability of housing in this area. My client wants to go back to the bank loan thinking that the cost of the money was less. However, that loan required much more than the 3% down for FHA and would more than deplete my clients savings that are needed as a fallback position.
Well now unemployment has cost our economy one more homeowner. My client has lost her job.
Saturday, January 10, 2009
लेस एक्स्पेंसिवे Money
लोअर इंटेरेस्ट रतेस अरे मेंत तो लुरे बुयेर्स इन्तो मकिंग ठिर क्ज्प्रुचासे नो। इ ऍम टोल्ड थिस विल इन्विगोराते थे हाऊसिंग मार्केट।
तेरे अरे फेवेर बुयेर्स अवैलब्ले इन थे मार्केट नो ठाट अरे क़ुअलिफ़िएद। पोस्सिब्ल्य जुस्त अस मानी पीपुल अवैलब्ले ठाट अरे लूकिंग फॉर अ बर्गेन, बुत नोट नेससरिली क़ुअलिफ़िएद। थिस कोउल्ड हवे अ सिल्वर लीनिंग। प्रेसेंत्ली थे बुयेर्स ठाट अरे बुयिंग अरे बेत्टर क़ुअलिफ़िएद, एंड विल प्रोविदे मोरे स्ताब्ले एंड वेल कपट निघ्बोर्हूड्स इन थे फुतुरे।
थे एंट्रेपेनुरेशिप ऑफ़ ओउर बर्गेन हुन्तेर्स विल नेवर सेस इन क्रेअतिविटी।
अ मजोर अद्वंटेज ओथेर थान बेत्टर निघ्बोर्हूड्स माय बे ठाट ठोस व्हो अरे शूट आउट ऑफ़ थे मार्केट माय एंड उप सेविंग, कोर्रेक्ट क्रेडिट प्रोब्लेम्स, एंड ठूस हेल्प अस वे हवे अ स्त्रोंगेर एक्कोनोमी अस थे थें कैन अफ्फोर्ड तो पुर्चासे.
तेरे अरे फेवेर बुयेर्स अवैलब्ले इन थे मार्केट नो ठाट अरे क़ुअलिफ़िएद। पोस्सिब्ल्य जुस्त अस मानी पीपुल अवैलब्ले ठाट अरे लूकिंग फॉर अ बर्गेन, बुत नोट नेससरिली क़ुअलिफ़िएद। थिस कोउल्ड हवे अ सिल्वर लीनिंग। प्रेसेंत्ली थे बुयेर्स ठाट अरे बुयिंग अरे बेत्टर क़ुअलिफ़िएद, एंड विल प्रोविदे मोरे स्ताब्ले एंड वेल कपट निघ्बोर्हूड्स इन थे फुतुरे।
थे एंट्रेपेनुरेशिप ऑफ़ ओउर बर्गेन हुन्तेर्स विल नेवर सेस इन क्रेअतिविटी।
अ मजोर अद्वंटेज ओथेर थान बेत्टर निघ्बोर्हूड्स माय बे ठाट ठोस व्हो अरे शूट आउट ऑफ़ थे मार्केट माय एंड उप सेविंग, कोर्रेक्ट क्रेडिट प्रोब्लेम्स, एंड ठूस हेल्प अस वे हवे अ स्त्रोंगेर एक्कोनोमी अस थे थें कैन अफ्फोर्ड तो पुर्चासे.
Subscribe to:
Posts (Atom)
