HUD Home for Sale!

/in /by

HUD HOME FOR SALE!

3860 E Clear Springs,  Nampa

Well-kept with no back neighbors (backs to community park), this home contains 1582 square feet,  4 bedrooms, 2 bathrooms and a bonus room which could “2nd” as a 5th bedroom!  There are upgraded amenities throughout which include pre-finished hardwood flooring, granite counter tops, vaulted ceilings and recessed lighting.  The exterior is fully fenced and has an RV parking area with dual gates.

An approximate monthly payment for this HUD owned Nampa home for sale at the asking price of $87,000 while placing 3.5% down (4.5% interest rate—taxes and insurance(s) included) would be at or around $659 monthly—why rent?!?)  **qualified 1st time homebuyers may be eligible for programs which offer $500 down payment options**

**INVESTORS—call me now if you’re sick and tired of  hard earned funds sitting in non-performing stocks or low interest savings accounts.  The time is NOW to invest in real property that will obtain at least $500 per month in rental income (not to mention future pricing appreciation).

The seller of this HUD home for sale may provide a closing cost credit of 3% to be included with the purchase of this home.

Please visit https://trustidaho.com/search/#PropertyID=42527467 to view detailed information and additional photos of this HUD home for sale.

Interested in obtaining information on all HUD owned homes for sale?  I am happy to forward a list of available HUD owned homes within 24 hours upon obtaining your request.  Please call me at 208-869-3469 or send your request to:  [email protected]

Call today for additional information or to view the interior of this or alternate HUD owned homes for sale!

The “Hidden Costs” of Owning a Home

/in /by

The “Hidden Costs” of Owning a Home

Besides the monthly mortgage payment associated with the purchase of a home, there are typically alternate expenses which a home purchaser should be aware of.  The following list contains information on the most prevalent:

1)       Special Assessments:   Special assessments typically include homeowner’s association dues (HOA) or management fees.   HOA dues can range in price from $5 monthly to $250 monthly with the costs associated with the dues being contingent upon what amenities are provided.  For example, if the community containing the home you are interested in purchasing has a “public” swimming pool then it is highly likely that homeowner’s dues could be as much as $125 monthly.  Alternatively, a community which does not have special amenities yet just “common area” which needs to be maintained may charge a nominal fee of $7 monthly.

2)      Services and utilities not needed when renting:  Some renters may have never paid for services like gas, garbage, water, irrigation and nature first pest control services or extermination due to the landlord covering these particular costs. Moreover renting a house would also require the tenant to pay additional from their pocket for maintaining the backyard regularly. One of the ways the cost of this can be drastically reduced is by getting the trees lopped using Perth Arbor Services tree lopping rather than cutting them by hiring other unprofessionals. However, all utilities and services provided would be extra for the new homeowner.

3)      Private Mortgage Insurance:  If not placing at least 20% down when purchasing, it is highly likely that the new homeowner will need to pay for private mortgage insurance which “protects” the investor if there is a default.  Mortgage insurance can be removed if a) a new appraisal is performed showing that the current loan amount is at 80% of the value, or b) the loan is paid down substantially allowing for the mortgage insurance premium to be waived.

4)      Penalties & Fines:  Owning a home comes with obligations such as maintaining the property in accordance with the codes within the community. Those can be found from Naperville commercial real estate company, among others.  Fines can be assessed by municipalities if the property is not maintained appropriately.

5)      Items not needed when renting yet essential when owning:  This “hidden cost” can vary dependent upon climate and the type of home purchased yet includes landscaping equipment (lawn mower, leaf blower, snow blower, etc) along with alternate appliances such as a washer/dryer, refrigerator, window treatments and light fixtures. And as for decorations there are some great Home DIY projects you can do yourself and save some money. Being informed when purchasing a home is of utmost importance.  Please call me directly at 208-869-3469 if I can answer any questions or if you would like to discuss the hidden costs of owning a home more thoroughly.

HUD HOME FOR SALE!

/in /by

HUD HOME FOR SALE!

2125 E Amity Ave, Nampa

Room to roam in the city—no CC& R’s and situated near amenities, medical services & I-84!  This Nampa HUD home for sale contains 2 bedrooms, 2 bathrooms and 1344 sqft–nearly move in ready with updated windows, a spacious master suite and open living areas.  Partially fenced .38 acre lot with an oversized 2 car garage and/or shop.  An approximate monthly payment for this HUD owned Nampa home for sale at the asking price of $42,000 while placing 3.5% down (4.5% interest rate—taxes and insurance(s) included) would be at or around $318 monthly—why rent?!?  **qualified 1st time homebuyers may be eligible for programs which offer $500 down payment options**

The seller of this HUD home for sale may provide a closing cost credit of 3% to be included with the purchase of this home.

Please visit https://trustidaho.com/search/#PropertyID=42000686 to view detailed information and additional photos of this HUD home for sale.

**INVESTORS—call me now if you’re sick and tired of  hard earned funds sitting in non-performing stocks or low interest savings accounts.  The time is NOW to invest in real property that will obtain at least $500 per month in rental income (not to mention future pricing appreciation).

Interested in obtaining information on all HUD owned homes for sale?  I am happy to forward a list of available HUD owned homes within 24 hours upon obtaining your request.  Please call me at 208-869-3469 or send your request to:  [email protected]


Call  today for additional information or to view the interior of this or alternate HUD owned homes for sale!

 

HUD HOME FOR SALE!

/in /by

HUD HOME FOR SALE!

103 Fern Street  Nampa, ID  83686

Incredible HUD home for sale located within an established area of Nampa—nicely situated near amenities and medical services.  An approximate monthly payment for this HUD owned Nampa home for sale at the asking price would be at or around $300 monthly—why rent?!?  The interior of this HUD home for sale is in very good condition with limited improvements needed.  It is situated on a corner lot, has 2 bedrooms and 1 bathroom on the main level along with a full basement which could provide an additional 2 bedrooms and living area.  Hardwood flooring coved ceilings, storage shed and fully fenced.

**INVESTORS—time to pull your hard earned funds out of non-performing stocks or low interest bank accounts and invest in something REAL that will obtain at least $500 per month in rental income.

The seller of this HUD home for sale will  provide a closing cost credit of 3% to be included with the purchase of this home.

Please visit https://trustidaho.com/search/#PropertyID=42000685 to view detailed information and additional photos of this HUD home for sale.

Interested in obtaining information on all HUD owned homes for sale?  I am happy to  forward a list of available HUD homes within 24 hours upon obtaining your request.  Please call me at 208-869-3469 or send your request to:  [email protected]


Mortgage Rates Fall to Record Lows (again)

/in /by

MORTGAGE RATES FALL TO RECORD LOWS (AGAIN)

The average 30 year fixed mortgage rate dropped to 3.94% which matches the all-time low in October.  The 15 year fixed rate mortgage also saw a new record low of 3.21% which is lower than the previous record held on October 6th of 2011.Adjustable rate mortgages (ARM’s) also fell to new lows—hitting 2.86%.

Mortgage rates have remained near record lows for a couple of months and finally made comparing iva companies a critical skillset when the rates hit the magic number—surpassing the previous records lows.

Interest rates should remain low through mid-2012 according to Freddie Mac’s chief economist, Frank Nothaft.

Home buyers will see substantial savings if deciding to take advantage of the current real estate market.  5 years ago, a home purchaser would have felt “blessed” to obtain a 5% interest rate on a 15 year loan.   A borrower would have paid $1,582 per month on a $200,000 mortgage at 5%.  At a 3.2% interest rate, the monthly payment would not come in at or around $1,400 per month—a substantial savings of $182 monthly.

Treasury bond yields (which have also stayed low) tend to coincide with mortgage rates.  10-year Treasury notes have fallen below 2% for the past 3 months as investors have stayed away from Europe and its debt issues.

Low home pricing combined with historic interest rates make buying a home extremely affordable right now.   Call me today for additional information:  208-869-3469!

Default filings down by a third in Ada & Canyon Counties

/in /by

Default filings down by a third in Ada & Canyon Counties

The local real estate market seems to be headed in the right direction in regard to stability.  The next 6 months will provide additional information on the direction that our market is headed yet the following information provides a “snap shot” of year to date activity.

Homeowner default rates on homes loans within Ada and Canyon counties will fall well short of 2010 levels.  Overall filings (the starting of the foreclosure process) are down 34 percent.

There were 228 default filings in November for Ada County, down from over 260 within the month of October. The monthly average of default filings for Ada County in 2011 is 265.  Total default filings for 2011 in Ada County were 2,918—down 34% from the previous year.

In Canyon County, however, default filings were up.  Last month there were 184—approximately 23 more default filings from the previous month.  The monthly default average for Canyon County is 176.  Through November, the total default filings for Canyon County were 1,944.

The most recent “high” for default filings in Ada and Canyon counties was in March of 2010.  Default filings, however, slowed as lien holders became concerned about the processing of foreclosure documents.  This prompted some lenders/services to revise their foreclosure processes.  As you most likely know, banks are now releasing their inventory (foreclosed homes) in a manner that does not depress the market further.

Most statisticians feel that an influx of bank owned property will hit the real estate market during the spring of 2012.  Default filings typically increase after the Winter Holiday Seasons, as well.

Bank owned listings dropped nearly 3 percent from October to November in Canyon and Ada Counties while short sales on the market are down 3 percent.

Principle Reductions for Underwater Borrowers on the Horizon?

/in /by

A letter sent to the Federal Housing Finance Agency’s (FHFA) acting director Edward DeMarco by 21 member of the United States Congress urged this director to implement principle reductions on loans currently backed by Fannie Mae and Freddie Mac—2 of the largest backers of mortgage securities.

The letter explains that the members of congress do not urge that the FHFA request principal reductions out of kindness to homeowners yet support principal reductions in order to save taxpayers money for any future losses (foreclosed homes).

Principle reductions are when the financing institution reduces the amount owed against the debt in order for the homeowner to not be “underwater”.   The purpose of principle reductions is to help those that are substantially underwater or owe much more than what the asset is worth.

17% of Fannie borrowers are underwater and 18% of Freddie borrowers are underwater.  This provides a great risk of eventual default by this particular group.

Loan modifications have not solved the problem since 44% of loans modified within the past 24 months are three months past due, according to a Freddie Mac cited letter:  “The performance of the mortgage modifications leaves much to be desired for homeowners, for the housing market and for taxpayers”.

The members of Congress which urged the principle reduction stated that the short term effects of principal reductions on the books may look grim yet the long term effects greatly outweigh the money lost if homes and property continue to default on a regular basis.

Questions about principle reductions?  Call me directly at 28-869-3469. –Matt

For complete funding solutions check out hard money lending new york.

Existing-Home Sales Up

/in /by

 

Although the national median price of homes being purchase has decreased, existing homes that have been sold increased for the 4th straight month in November.

 

Purchases of town homes, condo’s, co-op’s and single family residences increased nearly 14% last month to a adjusted estimated of 4.97 million.  Since July, homes sales have increased by double digits.  Sales also rose w/in the month of October.

 

The following information provides more detailed information:

 

Seasonally adjusted annual rate 4.97 million
% change from Oct. 2010 +13.5%
% change from September 2011 +1.4%
National median price $162,500
% change from Oct. 2010 -4.7%
Unsold inventory (months’ supply) 8
Share of all-cash buyers 29%
Share of investor buyers 18%
Share of first-time buyers 34%
Share of distressed sales 28%

 


Housing Affordability at Record Levels

/in /by

The housing affordability index for the third quarter of 2011 is hovering near its highest levels in over 20 years due to record low interest rates along with stabilizing home prices.

72.9% of residential property sold in the 3rd quarter was affordable to families earning an average income of $64,200.  This is the 11th straight quarter that the affordability index was above 70%.  In previous years, the index rarely reached above 59%.

Homeownership is available to more people than it has been for nearly 20 years.  Historically low interest rates and low home pricing contribute to this statistic.  However, tight credit conditions still confront home buyers and builders and continue to be a stumbling block for some.

Lakeland-Winter Haven, Florida is currently the most affordable housing market nationwide.  92.5% of all homes purchased were affordable to purchasers earning the median family income of $53,800.  Alternate affordable markets include Youngstown, Ohio; Toledo, Ohio; Indianapolis, Indiana; and Ogden, Utah.

New York, NY is the least affordable major housing market.  Within this vicinity, only 23.3% of all homes purchased were affordable to those averaging an income of $67,400.

 

5 Great Things about Home Ownership

/in /by

5 Great Things about Home Ownership

Homeownership is one of life’s supreme joys.  It’s time to not just get off of the fence yet LEAP off of the fence!  Here are some reasons why:

1)      Investment:  Paying rent is like throwing money down the drain.  Rather use Courtesy loans and buy a home securing your future. Landlord’s pockets get lined and the landlord reaps the benefits of you living w/in the home and paying rent.  Although purchasing a home may come with initial costs, you will make that money back over time as the market stabilizes.  Historically, real estate appreciates approximately 4%-6% per year and experts expect the housing market will recover.  Homeownership is about the “long term” investment.

2)      Ownership:  You own the home which comes with unbelievable benefits!  You can paint and decorate as you please and make the home “yours”.  Plant trees, install a covered patio—heck, after a short read on sites like https://willshapools.com/how-much-does-it-cost-to-build-pool/ you will see how it is feasible to add a swimming pool if you’d like—this home is yours and you can do as you please (make sure to check the HOA criteria if living within a community which contains an association).  Bottom line . . . you OWN the home and you have the ability to personalize it to your liking.  Most renters are stuck with bland paint and carpet and now it’s time to let your creative juices flow!

3)      Relationships:  When renting, one tends to see neighbors come and go quickly.  Some renters execute yearly leases while others “come and go”.  There is typically less common space for apartment renters to have the opportunity to develop friendships.  People that own their homes, however, typically have walking trails, club houses, pools and alternate areas which enable getting to know your neighbors.  Neighboring home owners typically stay longer (3-5 years) which allows time to develop relationships.  Healthy relationships equal less stress.

4)      Predictability:  Obtain a fixed rate mortgage and your monthly payments will remain the same.  This will allow you as the home owner to budget and make financial plans without any guessing on how much it will cost to live in the future.  Adjustable rate mortgages, on the other hand, provide a payment amount which is based upon the rise and fall of current interest rates.

5)      Great Deals:  It is such a great time to purchase a home!  Interest rates are hovering at historic lows (at or around 4%).  Home pricing is also at historically low rates.  These two factors equal enormous savings for those looking to purchase a home.  If you are currently renting yet have a steady income, call me today to discuss your options:  208-869-3469

Owning a home is still the “American Dream”.  Get off of the fence and into a home (your own home) today!