How would you make real estate investments in the United States easier?

This week, our guest blogger Daisy joins us to talk about real estate investments in the United States.  Enjoy!

The real estate business is not for everyone. It is a highly volatile market. There are constant fluctuations in the industry and prices rise and fall at regular intervals. It is not really that easy to plan an investment in, lets say, the San Jose real estate industry, or even here in Fort Worth. Individuals normally use agents to take care of their real estate needs. How would it be if someone makes it easier for you to manage your real estate issues? 

Generally, a typical real estate investment is divided into 3 main issues. You may want to follow the basic steps in order to make your estate investment a successful venture, even if you happen to find yourself in San Jose instead of Fort Worth. Registration may be easier for landowners that have rights of ownership on land. You or any investor may like to follow certain simple steps in order that your investment becomes worth it. An investment in San Jose real estate is perhaps the greatest investment anyone in the state would make., just like Fort Worth, TX.  It is probably an investment for a lifetime. If you are a visitor from another land, then you may find it a little difficult to buy land in San Jose or Fort Worth, but with few simple steps you could make it worth a try. When you are from a foreign land, language can become a barrier. In addition to this, you may also be unaware of the laws that govern the San Jose real estate market. You must first find out the rules and regulations before buying any kind of property in the state.

As a buyer, it is very essential that you understand the detailed process of buying. So, get some professional help if needed and learn the ropes of San Jose andFort  Worth real estate buying and selling to make things smooth. There may be different types of properties like house, time shares, condominiums and others. If you want to buy property then you must have good knowledge about the type of property you want to invest in. In addition to this, the rights related to the property must be known. You must also be aware of the detailed process of purchase and the fees that may be payable. You may also want to assess the strategies for protecting your investments.

Stop throwing away your money! Use NWBO to sell your home!

HOW YOU ARE GETTING OVERCHARGED FOR ANTIQUATED SERVICES

 

One of the most little known facts about the real estate market today has to do with realtors themselves and the insane commissions they make from selling houses.  The fact is, 20 years ago realtors served a quality purpose.  They found houses for buyers, sold houses for sellers and made offers on both sides behalf. 

For doing so, realtors usually charged around 3% of the sales price in commissions to both parties (that's 6% total).  The problem with this is that it was 20 years ago, and since then, the internet and technology has changed the real estate game in unimaginable ways.

Nowadays, if you are selling your home, you will be paying a realtor 3% of your hard earned equity (the money you have  in your home, built up through your mortgage payments) to a real estate agent who really isn't doing anything at all. Why would you do that?  What alternative do you have?

WHAT ELSE CAN YOU DO?

That's where NWBO comes in.  Nation Wide By Owner (NWBO) takes a flat fee (usually around $399) and lists your home on the internet, gives you one of our BRILLIANT YELLOW SIGNS for outdoor exposure, and even ASSISTS YOU WITH THE PAPERWORK. In fact, they even have ON SITE MORTGAGE PROFESSIONALS that will do all the financial work once you find a buyer for your home.

By doing this, you can save up to 6% of your total equity.  How much is 6%? Well here's an example.  Let's say your home sells for $200,000.  You can do one of two things.  You can either sell your home with NWBO for $399, or you can pay $12,000 out to realtors for doing the same job.  That's right.  $12,000.  You can keep it or you can throw it away.  The choice is yours.

SO the question is, why WOULDN'T you use NWBO to sell your home?

HUD Offers Homes in DFW for 50% Off List Price

Today’s real estate market represents one of the most affordable time in history to purchase a home, due to low mortgage rates, discounted prices and government incentives.  Add in the recent rise in foreclosures, and it is not uncommon to see buyers get up to 20% off the purchase price when they make an offer on a new house.

Some fortunate buyers, though, are getting up to 50% off the purchase price due to a new incentive called the Good Neighbor Next Door Program, which offers qualified borrowers the opportunity to buy HUD homes in approved neighborhoods for half off.  That’s right, half off.  To make these HUD homes even more affordable, buyers can apply for FHA-insured mortgages that require down payments of only $100.

WHO GETS THE DISCOUNT?

So who exactly qualifies for this excellent (and almost too good to be true) opportunity? HUD tells us:

“Law enforcement officers, pre-Kindergarten through 12th grade teachers and firefighters/emergency medical technicians can contribute to community revitalization while becoming homeowners through HUD's Good Neighbor Next Door Sales Program.  HUD offers a substantial incentive in the form of a discount of 50% from the list price of the home.”

Why would they do this?  The purpose, is “to strengthen communities by encouraging employed, professional law enforcement officers, teachers and firefighters/emergency medical technicians to live in the community.”

ARE THERE ANY STIPULATIONS?

So what’s the catch?  The main requirement for the discount is a guarantee that you will occupy the home as your primary residence for at least 3 years.  After the 3 years have passed you are free to do whatever you want.  In fact, after you buy the home and live there for the full time period, you can legally sell it. All of the profit and equity from the sale are yours to keep! This means that not only is the program a great way to break into homeownership for people who otherwise couldn’t afford it, but it is also a great way to build up equity and make some money in the process.  Oh, and you can even refinance the mortgage down the road if it happens to be to get a lower rate or even to make repairs.

The other main requirement for the program has to do with the house itself.  Qualifying properties must be located in HUD approved neighborhoods, meaning you can’t just go out and find any house you would like.  Don’t worry though, qualifying neighborhoods are located all across Texas, including many areas in DFW.

Want to find out if you qualify for this type of loan?  Are you interested in seeing which properties qualify as approved neighborhoods?  Feel free to CONTACT US and we will get back to you as soon as possible. The department of Housing and Urban Development updates the areas which are eligible quite frequently, so if you can’t find something you like immediately just give it some time.  You can also visit HUD’s website for more information.

Obama to Bail out Homeowners in Dallas Fort Worth?

News from Washington is that very soon President Obama might order Fannie Mae and Freddie Mac (who are government controlled) to bail out homeowners who currently owe more than their property is worth.  This is an astounding development, as there are literally millions of Americans in this position right now.  As a matter of fact, a total of (approximately) 15 million mortgages in the United States are currently in a state of "negative equity" which equates to about 1 in 5 homes.  Wow.

What does this mean for Fort Worth and Dallas?  It means that if you are in this situation, your neighbors (and pretty much every taxpayer) may soon be footing the bill for your mortgage.  It also means that if you are currently waiting to refinance your loan, or if you are in the process of getting a new home, you might want to speak with your loan officer and see if they advise locking in your interest rate.  Some analysts are predicting a massive jump if this bill ends up getting passed.

As always, we will keep you updated on the progress of this situation as details come available to us.  If you have any questions about it, or if you are interested in getting a mortgage, don't hesitate to CONTACT US and we will get back to you as soon as possible.  

USDA Rural Development Loans ARE BACK!

As of yesterday, the US House of Representatives passed a new bill (HR 4899) which includes additional funds for the Rural Development Loan Program.  This is HUGE news, as many many of these loans have been put into suspense over the past several months, or have been waiting for "subject to" commitments, which has been keeping them from closing, and not coincidentally, people from moving into their new homes.

These additional funds will also be available for consumers looking to purchase new homes, although there is one small change to the previous requirements for qualifying.  People are still eligible for the ever popular 100% financing the USDA RD loan offers, but the up front Funding Fee has been increased from 2% to 3.5%.  This is small potatoes considering that this funding fee can be rolled into the loan amount, so you don't have to pay for anything out of pocket at closing (theoretically).

If you have questions about the USDA Rural Development loan, or what properties in Fort Worth or Dallas qualify, don't hesitate to CONTACT US and we will review your situation.  Don't miss out on this great opportunity!

Time is Running Out to Refinance in Fort Worth-Dallas

This is going to be short and sweet, but I figured it is worth noting that this refinance boom we have been experiencing lately could be coming to an end very very soon.  Why?  Well, if history is to be our guide, we could be at the apex right as we speak.  And you can't get any better than the apex.

For example, from April to July rates have been dropping quite steadily, but for the last several weeks they have leveled out, and don't seem to be dropping again.  In fact, all signs point to rates going back UP before we see any type of drop again.

What does this mean to you?  It means that if you are on the fence about refinancing your mortgage you should take advantage of these low rates NOW before they go back up.  This is the best we have seen since 1972, and if you don't feel like waiting another 40 years you should CONTACT US as soon as possible.

We can get your loan refinanced faster than you could even imagine. OK maybe not faster than you could even imagine, but I can guarantee you it's quick.

Buying HUD Homes - A Simple Guide

The following information is provided in effort to give you an introduction on HUD homes, and how they can be purchased by you as a consumer.

WHAT IS A HUD HOME?

In its most basic sense, a HUD home is a one to four unit property (residential) that is foreclosed upon and then acquired by HUD, who in turn offers it for sale to recover any loss it may have incurred on said foreclosure claim.  The houses are then sold to the public through internet listing sites that are ran by property management companies who are under contract from HUD.  CLICK HERE for local Dallas-Fort Worth HUD home listings.

HOW DO I GET ONE? 

If you find a property you like, just notify your real estate agent who can make an offer for you on your behalf.  HUD will even pay the real estate agent’s commission (if it is included in the purchase contract).  If you need a real estate agent just contact us and we will find the best one for you!

WHAT ABOUT PRICE? 

Based on the most recent appraisal, HUD homes are offered for sale at fair market value.  In general, HUD homes are put on the market and sold during a particular time, which is known as the “offer period.”  Many different borrowers or investors may submit their offer during this time period, at the end of which the most desirable offer is accepted.  If none are accepted then the property will be continued for sale on an indefinite “extended” basis. In the end, the mortgage broker or real estate agent will be notified within 48 hours of HUD’s acceptance of any offer.

WHAT ABOUT GETTING FINANCING? 

In order to buy a HUD home, you must do so by paying cash or by obtaining financing through a traditional mortgage broker or loan officer.  In order to bring the least amount of money to closing, you would need to obtain financing from FHA, which (luckily) is possible on HUD homes.  HUD does not provide direct financing to buyers of HUD Homes, so if you need to get qualified for an FHA loan (or any other type) just CONTACT US and we will get back to you as soon as possible.  

WHERE CAN I LEARN MORE ABOUT HUD PROPERTIES?

Luckily, any single family residence available that is acquired by HUD will display a sign that should identify the company who is listing the property.  You can also see internet listings HERE.