How do I get started in purchasing a home? If I were personally look for a home today...I would do the following things before contacting a real estate professional:
Before I would pick up magazines and start looking at houses regardless of my income, my employment record regardless of how much cash I am working with..
I would not assume anything..because I know guidelines have changed..
First things first, I would contact a mortgage professional that I trust and would find out what I qualify for in order to buy a home.
Because if I don't qualify..I'm not buying!
I would gather docs because I know you will need them...
I would let my employer know I are buying a house and to expect a letter or phone call of employment verification. It may hold true for a landlord as well so prepare to discuss this with your landlord.
If you are in a lease read through your lease agreement and your lease there may be a chance you can break your lease if you purchase a home. If it is not clearly stated in your documents go to your landlord orproperty managerand ask what are the consequences in breaking the lease now may be the time to buy a home but it may also prove it's not!
One thing I believe..you have a better chance in buying a homeif you are prepared..if you do some homework in advance..and if you keep control in what is going on around you! Don't be the buyer who said they did it to me!
That means trust the professional you are working with, plan on cooperation and make sure and make good sound decisions...understand the documents...read the fine print but most of all pay attention to the numbers...after all its You and only you paying for that mortgage!
Well a year has gone by and a lot came from that contest. Friendship, business and of course we put in place business plans, pre listing packages, listing contracts and so on.
Till this day I still get comments on the pre - listing package Midori and I came up with and she is still ask for a copy of it. Well she called me the other day saying she got an email from someone who was looking to write about our Listing Checklist. So she called me and asked if I was ok with someone writing about it. I was more than ok I was flattered actually.
Someone from outside of AR took noticed of our work we put into this check list. I wasn't sure when the blog post was going to come out when I got a tweet today from @candylynn about getting organized with my name in it. Huh? organized what is she talking about. Well when I click on the link sure and behold there was the post. It blew me away, it was already up....
Can you believe a year has gone by? Wow times have changed!! I owe a lot to ActiveRain. I have gone so far in this business because of the site and I am so happy I found you by chance 2 years ago.
So a BIG THANK YOU!!!
Jeannette Neerpat 9000 Sheridan Street Pembroke Pines, Fl 33024 www.Neerpat.com
Would you like a Free Market Analysis? Visit www.Neerpat.com or call 954-993-4104.
The state is looking to help with the Down Payments assistance. Which helps you with the purchase of your First Home. How much better can this get. So now instead of having to wait for the tax credit, you can use it as a Down Payment.
So with an FHA loan on a $250,000 you need 3.5%, that means you need $8750. So if you get the $8,000 then you are looking at bringing $750.00, plus your closing cost.
So what the government is trying to do, is lend you the $8,000. You still file it on your tax return for next year. Then when you get the return you payback the state. So you are not using your out of pocket money. Makes sense to me.
“Here in Florida, rather than qualified buyers waiting to get the tax credit on the tail end of the process, in the form of a credit after they have filed the tax returns, it will allow them to get it upfront and let them use it for down-payment assistance and fees,” said David Hart, vice president of legislative and government affairs for the Florida Home Builders Association. He estimated that about five states are taking a similar approach.
The state’s program takes effect Wednesday, though the money isn’t expected to be available until later in July or August. The funds are being distributed through local government and nonprofit agencies that already provide down-payment help through the State Housing Initiatives Partnership, known as SHIP. Qualified homebuyers are entitled to $8,000 or 10percent of the property’s purchase price, whichever is less.
18 months to repay
Buyers who receive a down payment must file for the tax credit on their federal tax return next year and then repay the agency that lent them the assistance, according to the program, which was proposed by state Sen. Mike Fasano, R-New Port Richey. The program gives buyers who qualify and get funds 18 months in which to repay the state, which allows them plenty of time to realize the benefits of the tax credit, part of the federal government’s massive stimulus package, the American Recovery and Reinvestment Act of 2009.
To receive the state’s down-payment assistance, the buyer must close on a property by the end of November. Housing agencies are still working out the details of how to distribute the funds, and state officials caution that four or five months is a relatively short time in which to qualify, find a home, obtain a mortgage, close on the property — and use the money. Qualified buyers who do not take advantage of the state program may still take the federal tax credit, which is currently set to expire in December.
Jeannette Neerpat 9000 Sheridan Street Pembroke Pines, Fl 33024 www.Neerpat.com
Would you like a Free Market Analysis? Visit www.Neerpat.com or call 954-993-4104.
I want to take this time to Thank everyone here. All your emails and your tweets and a few voice mail messages. I am blessed to have such great realtionships.
Thank you Midori for your special post and everyone who commented. The surgery went well. I am in pain, but recovering well. I just got back home and the Dr said I must stay in bed for the next week.
So since I will be in bed, I will catch up on some blogging that I have missed from being busy. Funny thing, while drugged up at the hospital in pain I was talking with one of the staff in my room about Real Estate and managed to get a buyer client. Now talk about PASSION for REAL ESTATE.
From the bottom of my heart!!
Jeannette Neerpat 9000 Sheridan Street Pembroke Pines, Fl 33024 www.Neerpat.com
Would you like a Free Market Analysis? Visit www.Neerpat.com or call 954-993-4104.
So I was reading the paper today and came across an article that Broward County Property Appraisers are going to business that owe in back taxes. The county is looking to collect around $8 million in back taxes.
FORT LAUDERDALE - Tax collectors hit the streets Wednesday in a sweep of hundreds of business -- demanding they pay delinquent bills or have their equipment and furnishings sold at auction.
Customers were exercising at a downtown Fort Lauderdale gym when collection agents posted a lien for $9,900 in back taxes on its doors in the morning. Workers at a Quizno's sandwich shop on nearby Las Olas Boulevard were preparing for the midday rush when the agents arrived there moments later to tape a lien for $3,400 to its front door.
Broward County hopes to collect up to $8 million in past-due personal property taxes in the three-day push. Auctioneers are on standby to begin selling the property of any businesses that don't pay up within 30 days.
So now my question is, If the businesses pay up, and now the county has that money, will they still be layiing off the 400 plus teachers they plan to let go?
I mean come on $8 million dollars is alot of money!!!
FORT LAUDERDALE - The Broward School Board voted unanimously Tuesday night to lay off almost 400 teachers, despite pleas from more than 150 parents, teachers and students -- mostly from West Broward High School -- to keep them in their jobs.
Board members said they had little choice but to lay off the teachers, citing three years of state budget cuts and declining student enrollment. And they were angry, urging the audience to call and write state leaders to protest.
This is the first time in more than two decades that the Broward School District has laid off teachers, though officials said they hoped all the teachers would be back at work with the district by Aug. 24, the first day of school.
Both of these articles are in todays paper. We have 2 different things going on. I hope that the county looks to see if they can hold on to these teachers. I really don't want to see my kids in bigger class rooms and not get the proper teachings they need. To many students in each class takes away from individual times with the teacher.
I am not trying to be selfish in anyway, but I am looking for the best option for my kids!
Am I wrong? I don't think so, but you chime in and tell me if you have a better idea. Not like the government will listen to us. But you never know!
Jeannette Neerpat 9000 Sheridan Street Pembroke Pines, Fl 33024 www.Neerpat.com
Would you like a Free Market Analysis? Visit www.Neerpat.com or call 954-993-4104.
So have you heard?? ReBarCamp is coming to Miami. This is the first time ever its been here and I am so excited about it!!! I have not been able to make it to any of the other BarCamps due to having young children.
What makes me so happy is I will be able to see all my ActiveRain friends there!! Oh to go through the list of people I will be so happy to finally meet there. Its like we have this family that has grown from blogging. Never in a million years did I ever think the day I started blogging here would I have thought of the friendships I have gained.
So I look forward to Sept 14 and see all of you there!!! I'm ready, are you??
Jeannette Neerpat 9000 Sheridan Street Pembroke Pines, Fl 33024 www.Neerpat.com
Would you like a Free Market Analysis? Visit www.Neerpat.com or call 954-993-4104.
Most people laugh when they hear about the scams that are taking place all over the net. These scammers are hitting...Craigslist...Facebook...and even Flickr and today...I got one from one of my Careerbuilder alerts. I've personally had several through all of these sources...fortunately I spend a lot of time on line...but what about those that do not?
I truly do not find it funny.....because so many fall victim.....we have to understand not everyone is a genius or have the basic understanding that most real estate industry professionals have when it comes to buying a home,selling a property or even requesting information on a rental.
A few statistics you should think about before making prejudgments on those who fall for these schemes...I live in an area...where many homeowners do not use the Internet at all!
Did you know only 74.4 % of North America uses the Internet? That means there is a good chance some who search for properties on line...may do very little searching...as a matter of fact...they may use the Internet rarely and may not be aware of these schemes.
In many rural areas...broadband is not available still!
Today while going through my comments I found something quite interesting and thanks to Dave Dugdale...there is a software to detect whether you might be falling for a scheme...The Rental Scam Detection Tool! I went ahead and tested and I think it is a fabulous tool for those who might fall prey.
Very basic and very easy to use but specifics to look for when the schemers come scheming!
About The Author: Midori Miller is a Real Estate Trainer and writes and trains Real Estate Training and assists sellers in short sale situations. Midori is a Licensed Florida Real Estate Broker , License # BK645709 and a member of the Daytona Area Association of REALTORS. Contact midorimiller@yahoo.com or (386)453-3236.
Jeannette Neerpat | London Realty Corp | 954-993-4104
4999 SW 165th St, Pembroke Pines, FL
Riviera Isles.... Miramar, Fl
5BR/3BA Single Family House
$2,850/month
Bedrooms
5
Bathrooms
3 full, 0 partial
Sq Footage
4,311
Parking
2 dedicated
Pet Policy
Small dogs (< 25lbs)
Deposit
$5,700
DESCRIPTION
: Beautiful open home, Lavish Rivera Isles, with lake view, balcony from master bedroom overlooks the lake view. Freshly painted, wood floors and more. Convientely located to shopping plazas and local highways.
Please R.S.V.P and visit the blog...rebarcamp.com/miami for additional details. Oh and maybe we can test on line marketing...
Anyone care to sponsor and gain additional notoriety and familiarity of your company and products to a bunch of real estate technology enthusiasts? Sponsorship $250.00
How about sponsoring a great facility that would house around 200 people? Or maybe you know someone in the Miami Beach area who would allow us to use their facility for one day FREE? Imagine the exposure...the recognition and the appreciation! Contact Ines, the Mojito Critic and author of Miamism.com.
Will the flood gates open for home sales? Through some news reports such as Bloomberg and other media outlets, those lawmakers in Congress are looking to change up the current $8,000 first time homebuyers tax credit that ends on November 31st, 2009. The new bill was introduced on June 10th, 2009, but pending. This could be some good news for more than just first time homebuyers. But I have a different opinion on just the basics, from raising the tax credit from $8,000 to $15,000. But what are the changes that are being talked about?
New Tax Credit changes ....
The tax credit of $8,000 would be raised to $15,000
They would take away the income restrictions. The current income caps are : Single - $75,000 and Joint return - $150,000.
Making this available to anyone, even if you aren't a first time homebuyer.
Extending this for 1 year after the new bill becomes active.
Let's talk about this now..... I will agree that this could even help those that aren't first time homebuyers. It would help those that owned a home, that are upside down, who sell their home, yet have no money now.
Now, here is my problem about the current first time homebuyers tax credit or even if this is revived shortly. Yes, we will be printing more money then ever before, even from the last stimulus bill. Want I would like to see is the government and HUD put their heads together to come up with a plan to allow the homebuyer to use this money even for their initial 3.5% down payment. If you aren't sure what I am talking about, please read this. First time homebuyer tax credit approved by HUD to get the monies before settlement.
Conclusion: There are some that have argued with me that this new change, that HUD will allow you to get the monies before closing, to be used for part of your down payment and closing costs, will help a lot. I have been arguing this point 2 months after the $7,500 tax credit was approved in early 2008. My argument is that this will help some, a few, but not as many as the government projects or hopes that it will help. My argument? You need some of your own money first to be able to buy. Yes, you still would need 3.5% of your own money and in this economy, not everyone can save this in a timely manner. And many of these people that can't save adequately would still be good to excellent buyers... at least in my opinion, from 16 + years of lending.
Overall, if we could come up with a comprimise to allow all buyers to use this money even for their initial down payment, then that would open up the flood gates. People, keep in mind that we have the USDA loans and VA loans that allow 100% financing. This shouldn't be about having skin in the game, because these 2 programs have a good success rate. I will be writing about this over the weekend, my thoughts on what we can do, so please stay tuned for this. Thoughts? Opinions? thanks
PS..... UPDATE.... Per Lenn Harley's comment & Pat Kennedy's, don't get me wrong, I am not a big fan of printing all of this money. I have talked about this in such blogs as :
I need my quick fix now, please pass me that 4.5% rate now. - why we can't afford to keep lowering the interest rates, thinking that this will help now. This kind of thinking is just for consumer confidence, but will bury us in the very near future, which is mentioned in the next link below, inflation vs deflation.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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