• More money; The amount of money you are permitted to borrow for the purchase and renovations is based on the increased value of the home after improvements are made, and according to our local representative the values after considering renovations have a value of 110% value on work to be performed.

• Lower payment on going payments; Renovation costs are spread throughout the entire term of the loan.

• Tax deductibility; The interest on the cost of your improvements, included in your mortgage, may be tax deductible.

• Convenience for you the new Homeowner; Start customizing your own improvements after closing. There is no reason now to pass up a house that’s in the ideal location but needs your own personal touch through remodeling!

• Keeping it Simple; One loan closing, one closing to attend and one payment each month

Recommended for the homebuyer who;

• Is interested in buying a house either in need of renovations or fixes, but want to avoid going through the hassle of getting two separate loans.

• Need extra financing to improve newly purchased property.

Why not simply get a 2nd Mortgage or HELOC to fund renovation projects? It’s simple, funds you are permitted to borrow with this program is based on the home’s value after improvements are made not based on purchase price before improvements.

Another tool out there for the Buyer who I have walked houses with who finds a house in a perfect location or home with great pluses, but also has quite a few negatives. This is an exciting loan program that today offers many possibilities. Customize that house and make it your own!

If you are in the process of starting your home search please contact me. I would be happy to assist you and to direct you toward this program and the qualified individuals who originate it!

They work with the “flow” of a home to eliminate clutter, neutralize personal touches that might turn off a buyer who cannot envision their personal belongings intertwined with yours on the bookshelf, rearrange furniture, and even assist in enhancing curb appeal. Or, if you’re more the do-it-yourself type, below are some tips on what you can do to improve your home’s “first impression.” Remember that first impression may make them come back, but it can also drive them away for good.

Start at the curb

Curb appeal is the first step to selling your home. No one wants to buy a previous owner’s
dirty house. Power-wash the siding and wash windows until they shine. Trees, shrubs, and flowers should be neat and tidy, the garden weeded and the lawn mowed and edged. Once you’ve removed everything that isn’t necessary, add touches such as large, lush flower pots or hanging planters to welcome visitors.

Move Inside

Once you’ve created a promising exterior, you need to focus on the interior. The key to staging is to make it meaningful, set the tone and suggest countless possibilities. That means you need to remove everything that could distract the buyer’s attention. Keep only what you must to remain functional. If you don’t use something everyday, pack it for the
move. Like the exterior, the inside needs to be neat and clean. If paint is showing signs of age, repaint. Neutrals often work best. Once the house is clean, stage your home with minimal furnishings.

If you need inspiration, visit some model homes to see how decorators have put rooms together. Clear out closets, cupboards, and drawers. Strip the kitchen down to the necessities. Counters, however, should be clear, except for a decoratively placed
bowl of fruit or bouquet of fresh flowers. It’s not necessary for individual rooms to be used for their original purpose as long as the functions they represent are
logical and show the space off well.

Remove anything personal such as family pictures and mementos. Edit books, CDs, and videos on bookshelves. Arrange furniture to enhance the strengths of the room
and facilitate traffic flow.

If your furniture shows signs of age, consider borrowing pieces. Open the curtains to allow natural light to fill the room. Appeal to the buyer’s sense of smell. Hot apple
cider, cinnamon rolls, or fresh baked cookies add a homey
smell.

Simplicity and comfort is your ultimate goal!

Home Selling Trivia!

What is one of the most common
ways for making a home
more appealing to buyers?

Neutralizing dark or bold
colors makes it easier for
a buyer to visualize how
the home will look with
their possessions.

Your Home Staging Checklist

* Are all countertops clean and clear?
* Have you removed unnecessary furniture
throughout the house?
* Is the refrigerator free of children’s art and
magnets?
* Check the bathrooms
* Are the surfaces clean and clear?
* Are shower curtains clean and hung properly?
* Is the flooring clean and fresh?
* Are towels neatly hung?
* Check the walls
* Is paint and wallpaper fresh and clean?
* Are the walls free from cracks and holes?
* Is there anything on the walls that need to be
removed?
* Check the floors
* Is the carpet clean and free from stains?
* Are hard surface floors clean and free from
stains?
* Check the windows
* Are all the windows clean?
* Are draperies and blinds clean?
* Pet check
* Remove any signs that this is a pet’s home.
* Check the aroma
* Air out the home prior to showings.
* Set the mood prior to showings
* Open draperies and blinds.
* Turn on the radio to a soft music station, set
the volume low.
* If you have time, bake a batch of cookies or
muffins to create a warm, welcoming aroma

Why you might ask?

Prices are probably as low as they are going to go as the market stabilizes, There is an assumption out there in the market that prices are probably as low as they are going to be until we have true market stabilization which translates to the nationalization of Freddie and Fannie.

The FHA allows a minimum down payments that will rise to 3.5 percent as of Oct. 1 , 2008, giving would-be buyers incentive to get into their lenders and start locking rates today! The Federal Housing Administration recently also boosted its loan limits to $729,750 in expensive areas. It’s going to take some of that back come Jan. 1, 2009, when the loan limit will shrink to $625,500. If you are looking at high end properties this should speak loudly to you in particular.

The newly popular tax credit or “tax loan” as it should be termed will save $7,500 off a first-time buyer’s purchase. This applies to those buyers who have not owned a home for three years as well. Read my previous blog post regarding “When a Tax Credit is really a Loan” for more detail regarding this feature.