HUD is Tightening UP-BIG TIME!!! BUY NOW!!!

Changes are coming to FHA, and they're not favorable to ease of home buying. There is no set date yet, but here's the short story:


Upfront MIP(Mortgage Insurance) will increase from 1.75% to 2.25%

Update to FICO scores and LTV maximums (620 minimum marketable, but down payment may increase to 5%)

Seller contributions will be reduced from 6% to just 3% to be in line with conventional markets

Increased audits of FHA lenders

As in so many things, the government appears to be attempting to regulate and stimulate the marketplace at the same time, without regard to consequences.


Thinking of buying, or selling??? Don't wait for the Government to make more regulations to the market they have tried to stimulate.



"The only competition worthy of a wise man is with himself"

-Anna Jameson



Lindsay Saunders, Realtor, REO Certified Specialist



Keller Williams Greenville Central Partners



864-607-0479 Direct



Saunders@kw.com



http://www.greenvillerealestategirl.com/

Calling All Real Estate Investors!!!

The FHA Commissioner announced that FHA will be waiving the 90 day seasoning regulation on properties that have a contract dated on, or after February 1, 2010. Up until 2/1/10, as an investor/flipper, you had to wait until the title was in the current owner/investor's name for 90 days before it could be sold to a new purchaser. Of course, there are guidelines for this, just like anything else. However, this is great news for investors who slowed down due to the restriction, or people with extra cash who want to get into investing and flipping real estate.

Remember real estate is about the only investment, that over the past 30 years, has had an average appreciation rate of 4 percent. Not many other investments have that kind of consistency rate.

Certain property may be resold and financed using FHA insured financing without waiting 90 days.

FHA has temporarily waived the 90 day wait period, on certain transactions. These recently purchased homes may be sold and financed with FHA insurance.

· Private sellers and investors are now eligible to take advantage of this waiver.


· These transactions must be arms-length, with no identity of interest between the buyer and the seller or other parties participating in the sales transaction.


· In cases where the sales price is 20% or greater than the seller's acquisition, the lender must justify the increase in value with supporting documentation of renovation, repair and rehabilitation work.


o If no such work was performed the appraiser must provide an appropriate explanation of the increase in property value since the prior title transfer.


o The lender must order a property inspection and provide that report to the home buyer. Buyer's may be charged for the cost of this inspection.


Thinking about buying or selling property??? I can help anyone, anywhere!!!

For more information, go to www.GreenvilleRealEstateGirl.com.

"Begin with the end in mind"

Lindsay Saunders, Realtor, REO Certified Specialist

Keller Williams Greenville Central Partners

864-607-0479 Direct

Saunders@kw.com

www.GreenvilleRealEstateGirl.com

Don't Miss the Boat....

Majority of the buyers I represent are first-time home buyers, and up until this past year, I haven't had the challenges of getting them to the closing table that I've faced in 2009. As I'm sure this is the case with a lot of Realtors. As a consumer myself, I want the best bang for my buck, as well. However, sometimes when you are awaiting the "Perfect Deal", you miss a Great opportunity.




I have had several buyer clients this past year that had their eye set on one property, and continued to tell me that they were going to wait for the price to drop again, and again, and again. Well, in all, but one of these cases, these buyers missed the opportunity to buy the house they wanted because they were certain the seller was going to become desperate, and continue to drop the price. Other buyers saw the great opportunity, and submitted the accepted offer, while my buyers lost out. Outcome? No other homes compared to the one they had their eye set on, they became frustrated, and decided not to purchase.



Another thing to consider...As a buyer is waiting for the "Perfect Deal", interest rates are rising, and will continue to rise. You can get a lot more house at 5 percent interest than you can at 6 percent. Just food for thought.  Let's put this in perspective: in the 1970's economy/housing crisis, interest rates were around 11 percent and there was no way to even be considered for a mortgage without 10 percent down payment.  I'm pretty sure the cost of living, and housing, was much less 30-40 years ago, than it is now.



For more Buyer Resources, go to: www.GreenvilleRealEstateGirl.com



Thinking of buying, or selling?? I can help anyone, anywhere, buy, or sell, real estate.







"Be the person you want other people to be"



-Ghandi

Lindsay Saunders, Realtor, REO Certified Specialist

Keller Williams Greenville Central Partners

864-607-0479 Direct

Saunders@kw.com

www.GreenvilleRealEstateGirl.com

5 Questions To Consider When #Buying a #Home.....

There a so many things to consider when purchasing a home.  Whether you are buying your first home, or your fifth home, you should always have someone working for you and representing your best interests.  So many times I come in contact with buyers, and sellers, who don't think they need representation.  Not having representation in a real estate transaction is like not having legal representation when going to court.  I don't know about you, but I'm no attorney, however, I AM a Realtor.  And the best part?  A buyer's agent is compensated by the seller's agent, so there is no out-of-pocket expense to the buyer for having representation.

Also, as a buyer, when you call an agent off of a yard sign, remember you are calling the agent that represents the seller, and in some states, that allow "Dual Agency", if the seller's agent signs the buyer, they represent both parties, buyer and seller.  My state allows Dual Agency, and in this situation, the agent has to basically remove themselves from representing either party, and they facilitate the transaction, and become the middle man.  Now, let's be realistic, who does the agent really represent?  Their own Pockets!!  Whole is better than half.

For more questions to consider when purchasing a home, go to:
http://rismedia.com/2009-12-14/5-questions-to-consider-before-purchasing-a-home/

Not in Greenville, SC?? I can help anyone, anywhere, buy, or sell real estate!

"Life is hard, it's even harder when you're stupid"
-John Wayne

Happy Holidays!!!

Lindsay Saunders, Realtor

Keller Williams Greenville Central Partners

864-607-0479

Saunders@kw.com

http://www.greenvillerealestategirl.com/

Buying Your First Home

There are so many details that go into purchasing a home. It is so important to have someone who will educate you through the process, and actually cares about your best interests, and investment. With everything that has happened with our economy, and housing industry, Realtors and sellers have become desperate, and in many cases, only looking out for their own best interests. Did you know that there is no out-of-pocket expense to a purchaser, to retain, a professional Realtor to protect your best interests? The seller's agent has already negotiated the commission with the seller when they obtained the listing, and pays a cooperating broker (agent) for bringing a buyer to the closing table. For more buyer resources, visit my website at www.GreenvilleRealEstateGirl.com .

Not in Greenville, SC? I can help anyone, anywhere, buy or sell property! I have a network of over 75,000 agents across the country that I work with.

Have a great Monday!!

Lindsay Saunders, Realtor
Keller Williams Greenville Central Partners
Saunders@kw.com
www.GreenvilleRealEstateGirl.com