Better to Buy than Rent

Since the housing bubble burst, it seems like everyone and their mother can’t stop talking about what a great time it is right now to buy a home, but how good is itreally? After years of seeing home prices drop like flies and rental markets tightening up better than pair of Spanx, it’s safe to say that homeownership is very affordable almost everywhere. In fact, it is now cheaper to buy than to rent in 98 of the 100 most populous metros – including (shocker!) pricey places to live like New York, Los Angeles and Boston.

Call Rick Tipton at Almost Home Realty lets talk about your options in todays market.

Home Ownership - No Longer Just a Dream

The Georgia Department of Community Affairs Dream Homeownership Program has helped over 35,000 Georgians achieve the dream of homeownership by providing affordable first mortgage financing and down payment assistance.

Special emphasis has been given to help, those working in the school system, the medical community and of course our protectors, active duty military and the Georgia Army and Air National Guard, law enforcement (to include correctional department), firefighters, day care providers and to individuals with a disability. This is quite an extensive list. Practically everyone is eligible.

There are a few stipulations of course, such as the purchase may not exceed $200,000. First time home buyers must also attend Home Buyers Education Training, we recommend this to all potential buyers. These loans are usually ½ to 1 full basis point below the prime interest rate. Of course the home buyer must contribute $500.00 of their own personal money, this cannot be borrowed. To acquire a 100% loan the borrow normally must have a credit score of 620 or higher. Lenders usually require 30 business days to complete the paperwork so it can be submitted to DCA.

One of the most inspiring concepts about the Department of Community Affairs (DCA) program is the GREEN program. This program provides grants to builders, up to $20,000 to offset the cost of building energy efficient homes. These energy efficient homes must be Earth Craft, Energy Star or Easy Living certified. The added bonus is that Home buyers who wish to purchase an energy efficient home are eligible for a host of incentives as well.

Talk to your local Almost Home Realtor, he/she will help you find a participating lender. At Almost Home Realty can turn your dream into a reality.

Live the good life and allow your dreams to come true in Jones County, it just keeps getting better.

In the Eyes of the Beholder

Rental properties provide 2nd income.

The approximately about a half a million vacant houses controlled by the federal government currently sitting on the market today. Many of these are not actually listed for sale, either because the foreclosure process has not been completed or because the entities (Banks) who repossessed them believe that the cost of selling will not be recouped by the sales process. Because we have so many people that have lost their homes to foreclosure coupled with the fact we are running out of rental properties, creates a perfect storm for people who are looking to create a second income from owning rental properties. At Almost Home Realty and Property Management we cater to those folks who don't know the law or procedures to properly manage properties. For more information, call us today.

Now is the Best Time to Use Your VA Loan

The average 30-year fixed mortgage has fallen below 4% for the first time ever. Combined with the powerful benefits of a VA Loan, this is literally the opportunity of a lifetime. Don't miss this chance.

Search for Lenders that work with VA Loans and see what they can do for you.

  Lock in a Low, Fixed Interest Rate
  No Down Payment or PMI Required
  Pay Off Credit Cards or a 2nd Mortgage
  Roll Closing Costs into Your Loan

VA Loans are available to Active Duty Military, Veterans, and Retirees.
Use a VA Loan to buy a new home or refinance an existing loan.

2012 Housing Predictions: Is the Worst Over?

About 1.9 million homes entered the foreclosure process in 2011, the lowest level since 2007 when the recession began, according to a report Thursday by the foreclosure listing firm RealtyTrac. That the decline does not necessarily indicate that the housing market is getting better, as many foreclosures have been delayed due to confusion over documentation and legal issues involved in the process. One thing I know for sure is that if you have been sitting on the fence to buy a home. Get off it and call me. Now is the time to buy. Your government may be poised to sell all these foreclosures in bulk to investors who in turn will convert these homes to rentals, thus killing the American Dream. Call me (Rick Tipton) today at 478-719-4535. Almost Home Realty, Associate Broker.

Land For Sale

Over 2 acres of prime real estate sitting on Hwy 18 between the Morman Church and the Church of Christ. New price was $79,000. Old price $199,900. This is an EXCELLENT location for professional offices. The logical choice for our fair city to grow is out the Bill Conn connector onto Hwy 18. This property has access to city water and sewage. Will you be the savy person who spots a golden opportunity when they see one. Call Rick Tipton (478) 719-4535 or Debra Kitchens (478) 972-1701, or our the Almost Home Realty office at (478)-0051.

Call your Representative NOW - Say NO

Both versions of this bill impose a permanent new tax on every mortgage backed by Fannie Mae and Freddie Mac. To pay for an additional two months of tax relief under the Senate version or 12 months under the House version, more than $3,000 of new taxes will be imposed on every $150,000 mortgage backed by Fannie or Freddie. A family taking out a $250,000 mortgage will pay $5,000 more in taxes–directly and solely because of this bill– hidden in their future mortgage payments. This is atrocious public policy. It shifts the burden for this bill to future homebuyers, kicks the housing market when it’s already down, makes it that much more expensive for home buyers to re-enter that market, and adds to the pressures that have chronically depressed everyone’s home values. That’s the reason that both the Senate and the House versions need to go back for major revision.

The Sad Truth

National REO Statistics: * 1,600,000 Homes are currently owned by Lenders/Banks * 3,600,000 Mortgages are delinquent and at risk of foreclosure * 14,000,000 Mortgages are at 125% or greater LTV than the actual home values

Becky Kelley - Where's the Line to See Jesus - OFFICIAL MUSIC VIDEO

Simply.....put
What exactly is a short sale? Here is the directive for short sales that is pertinent information, as it speaks to closing costs which are allowed and not allowed pertaining to FHA and Conventional loans. http://portal.hud.gov/hudportal/documents/huddoc?id=DOC_14626.pdf

HAFA Short Sales A short sale is the sale of real property which falls short of the amount due on that property’s mortgage(s). Since it means that the lender(s) will discount their debt(s) and take a loss on their investment, the sale must be approved by the lender(s) on all mortgages and liens on the property. A short sale is generally approved only as an alternative to foreclosure. The lender on your first mortgage has the first right to the proceeds from the sale because they have the first right to foreclose on the property in case of default. If you have other mortgages or liens on that property, you must be able to get those lenders to release their lien on the title to your property before the original lender can accept the deed. Just like in other real estate transactions, the title must be clear when it is transferred through a short sale. You must agree to work together with your original lender, real estate agents and brokers, appraisers, title companies, mortgage insurance companies, and all other lienholders in order to avoid foreclosure through a short sale. When your first mortgage lender agrees to accept a short sale under HAFA, they must agree to give up their right to ask you to repay any part of that debt, whether by cash, a promissory note, or a default judgment in court. The other lienholders may require cash, a promissory note, or a combination of both before they will agree to release their lien. Be prepared to negotiate terms with them.

Above Information provided by http://hafa-program.com/home/what-is-a-short-sale.html

ADVISORY: SEEK THE PROFESSIONAL ADVICE OF A PROFESSIONAL ATTORNEY, CPA FOR LEGAL QUESTIONS BEYOND MY SCOPE AS A REALTOR IN REGARDS TO ANY SHORT SALE INFO PROVIDED !

 FANNIE MAE HAFA GUIDELINES Very Timely and important new rules and guidelines! Please read for short sale and deed in lieu updates!

Here for the Long Haul

Over 300,000 Realtor's are giving up their dream because during this current economic downturn. Why, because they refused to change and keep themselves educated on the new processes required to assist their clients in navigating the myrid of requirements by Fannie Mae, Freddie Mac and HUD. In todays market, my obligation as a professional is to stay abreast of the ever changing landscape in the Real Estate market. To that end I invested in additional education to become REO's Specialist. By furthering my knowledge I can help my customers acquire the perfect property or assist them during the short sale process that aids them in selling their home with the mortgage lenders approval. This creates a win=win for both parties. Should you need assistance, become one of my preferred clients. I would be glad to represent you.

Landlord Retirement Plan – The latest strategy

With interest rates at historic lows, creating an adequate retirement income stream has become difficult and expensive. But here’s an interesting development: Increasingly, baby boomers say they will count on rental income to fill a role traditionally reserved for things like fixed annuities and bank CDs, according to a Coldwell Banker Real Estate survey out today.

I Am an Authorized Agent For HUD Home Sales

Residential - Single Family 3 Bedroom 2 Bath Address: 3213 BETHUNE AVE MACON, GA 31211 County: BIBB List Price: $75,087 As-Is Value:$103,000 Call me today if your interested in this home.

Obama Care has hidden tax for Home Purchases

The National Association of REALTORS is all over this and working to get it repealed before it takes effect. But I am very pleased we aren't the only ones who know about this ploy to steal billions from unsuspecting homeowners. How many REALTORS do you think will vote Democratic in 2012? Did you know that if you sell your house after 2012 you will pay a 3.8% sales tax on it? That's $3,800 on a $100,000 home, etc. When did this happen? It's in the health care bill and goes into effect in 2013. Why 2013? Could it be to come to light AFTER the 2012 elections? So, this is "change you can believe in"? Under the new health care bill all real estate transactions will be subject to a 3.8% Sales Tax. If you sell a $400,000 home, there will be a $15,200 tax. This bill is set to screw the retiring generation who often downsize their homes. Does this make your November and 2012 vote more important? Oh, you weren't aware this was in the Obamacare bill? Guess what, you aren't alone. There are more than a few members of Congress that aren't aware of it either http://www.gop.gov/blog/10/04/08/obamacare-flatlines-obamacare-taxes-home I hope you forward this to every single person in your address book. VOTERS NEED TO KNOW.

Have a Great Labor Day Weekend

Labor Day is about taking a much-deserved rest in recognition of hard work. We hope you enjoy this time relaxing with friends and loved ones. You deserve it. And if there's anything I can do for you, please let me know.

Rick Tipton
Associate Broker
Almost Home Realty,
(478) 719-4535

Fannie Mae Pushed Foreclosures rather than Loan Modification

Fannie Mae admitted that they were pushing foreclosures rather than Loan Modifications (so much for the governments help). To make matters worese, Anyone that has had a foreclosure in their past and wants to buy a home will face some challenges.

1. Must be 7 years out, unless there are extenuating circumstances, such as death in family, loss of income due to loss of job and all will have to be documented.

2. Even with proof and documented extenuating circumstances, it still has to be 3 full years out from date on credit report.

This is on all FHA loans that require 3.5% down and can be a 203B or 203K.
For additional information contact my friend Patrick Spencer at Envoy Mortgage.

Exciting News

Exciting News: The initial disbursement at closing option on FHA 203(k) Streamline product! This option will allow's borrower's to receive up to 50% of the cost of repairs AT CLOSING which will enable them to start work immediately after the loan closes and funds. I Love It. Now you can get those needed repairs done quicker.

Signatures on Sales Contracts

My Friend Patrick Spencer at Envoy Mortgatge has identified an area that needs to be addressed.

Here’s the problem:

1. Name on sales contract appears as James Smith. He signs the sales contract as James A. Smith and puts in the loan application to us As James Allen Smith. We pull credit as James Allen Smith.

2. When we get the loan into process we have to order the 4506-T for tax transcripts on all loans. If the 4506-T does not appear exactly as how Mr. Smith filed his 1040’s, we then have to retype the 4506-5, get him to sign exactly as how he filed his taxes, then we can get the transcripts.

HOW TO SOLVE PROBLEM:

A. When a sales contract is written, ask the client how their names appear on their tax returns and make the sales contract match those names.

B. Double check that clients have signed the sales contract correctly.

This alleviate the need for Lenders/Loan Processors from having to repull credit in the correct name and asking you to obtain an amendment to the contract showing the correct name.

C. We are now asking all clients when completing any application to put their name the same way as it appears on their tax returns.

FOR SALE 435 Ashville Dr. Macon, GA 31210

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