FHA Financing & Nehemiah

Just as the low downpayment financing is drying up, FHA together with Nehemiah give us the opportunity for zero down financing with the Nehemiah gift program. While you are looking at reposessed homes that need some rehab you may also be able to combine these programs with an FHA 203K which provides for repairs. First time homebuyers can benefit from these programs.

Read more about it: http://www.nehemiahcorp.org/

Going to Auction

When a house goes to auction you can get a good deal if you know what you are buying. Go to the property in question and do your do diligence. Get all your inspections, and do an analysis of all the improvements or repairs, materials and labor even if you are planning on doing the work yourself. Know what the solds and pendings are in the neighborhood before hand and decide ahead of time what you are going to offer. Once you get to the auction house keep a level head, try not to get caught up in the excitement of becoming the highest bidder. Do your homework and you can really make a good buy, there are some really good buys out there to be had.

Bank Owned v.s. Short Sales

A short sale is when a seller sells their home for less than what they owe on it. There may be tax consequences (consult your tax specialist or accountant) and other liabilities that the seller may incur for doing a short sale. When the home does not sell or the seller abandons the home the lender may foreclose on a property and the bank becomes the legal owner at that point. For simplicity sake this is it in a nut shell. For the seller this is not a good place to be. For the buyer a short sale or bank owned property can mean opportunity to buy a home at a good price, or does it? You still have to do your homework, check the comparable sales in the area as well as make sure that the work that needs to be done to the house is something you are willing to tackle both physically & financially. I can help you work thru these questions are well as any others you might have.

Just yesterday as I was reviewing homes in MLS for showings, several had gone pending after 130 odd days on the market. The market isnt all gloom and doom as the media is eluding to. Those homes that are in good shape, priced well and staged to sell really get the eye of the potential buyer.

Wealth Building Seminars

I have been hosting wealth building seminars monthly, usually on the last thursday of each month. Because of popular demand and additional event was held yesterday and one will be held tonight at 7:00pm 851 Pleasant Grove, Rsvl. at the First American Title Company. The topic will be on Identity Theft, Detective Mathew Janney will be our speaker.

I wanted to ask; have you been a victim and how did you go about getting back to normal? It is said that just trying to repair your credit takes at least 600 hours of your time to repair! What a hassle.

Another Wealth Building Idea!

Would your life change if you had no house payment? What could you do with that extra money? There is a revolutionary new loan that could help you get there. It’s called the Home Ownership Accelerator and it’s the most exciting new program in decades, and it’s now available in our area. You could pay off your home loan in about half the time and save thousands in interest -- all with no change to your spending habits. http://homeownershipaccelerator.net

Real Estate Market In Sacramento/Placer County California

There is not doubt about it, the real estate market in Sacramento and Placer County has seen better times. I prefer not to dwell on the negitive. I believe and from my observations the problems are in pockets. Where is your neighborhood and how does it look as far as REO's (Bank Owned Properties)? Is there alot of inventory in your neighborhood? Are properties abandoned and run down or are they keeping their values? Let me know whats happening in your neck of the woods. Your Hostess: Queen Avalar.