Grading can be a problem in Bound Brook NJ, Concord CA & anywhere else - 07/29/12 09:49 PM
Grading is the most important single thing you can do for your home. Poor grading is the cause of over 90% of foundation failures. Yet it was likely fine when you purchased the home. All you have to do is maintain what is already there in many cases.
When you purchase a new home, I mean a brand new home, the grading is likely going to be adequate though you should look it over and see that it appears that ground surface drainage water would flow away from the structure. I find it interesting that most if not "all" of the … (4 comments)

FHA 203k Feasibility Analysis - Oakland - 07/29/12 11:37 AM
Well there is no rest for the Wicked as my Mom used to say. It's Sunday and we are relaxing and, of course, the client needs it this weekend. lol
All kidding aside as much as we like to enjoy our Weekends there are many times our clients just can't affort to miss time during the working week so yes, we work weekends when necessary.
Today seems like we have an interesting in Oakland with an Edwardian tri-color home.
Purpose of a feasibility analysis - as you may know we are attempting to get a renovation estimate so the buyer knows … (3 comments)

203k loans Walnut Creek - 07/28/12 09:15 AM
How do you find an FHA 203k lender in Walnut Creek?
That is a tough one because there are several in that area that can actually close these loans. It might be better to ask who should I stay away from?
In any case if you are doing your 1st or 100th 203k loan you should use someone you trust, a lender with a proven track record of closing 203k loans and be careful to ask a few good questions - 
Bank of America for instance can't do a 203k refinance unless the client is already one of their customers. We … (2 comments)

FHA 203k Consultant Bound Brook NJ - 07/26/12 10:11 AM
HouseMaster group with Mike & Kathleen Kuhn has just added 203k consulting to their home inspection business. This is a perfect service to add to every home inspection business as we, as home inspectors, get accused of "killing the deal" more that we like to admit when, in fact, we are just reporting what we see but with this new service we are the solution to those repairs that we discover. 
The FHA 203k is money to purchase and money to complete the work all in one low interest loan. We closed a couple last week at under 4% (3.75%). Yes, … (2 comments)

When would you use a 203k Feasibility Report over a full Consultation? - 07/24/12 12:59 PM
Once you understand what each report is you will understand their proper use.
Feasibility report - a short inspection, typically 30 minutes in length, that identifies the deficiencies in a home and what it would take to get the home up to FHA MPS (minimum property Standards) nothing more. 
Why nothing more? The seller ins't interesting in all the upgrades you may want to do even though some may be wanted by anyone buying this structure. 
Purposes of this Feasibility Report or Feasibility Analysis is to help a buyer know the cost of repairs so they can make an educated offer. It also … (0 comments)

THE FHA 203(K) PROCESS - 07/22/12 03:36 PM
Jeff is one of those lenders you can depend on to get it right. There are lots of, so called, 203k lenders that still don't have  a clue or that tell you the consturction is limited to $35,000 because they don't do the full 203k loan program. You can learn from Jeff.
Via Jeff Onofrio (AnnieMac Home Mortgage ):
 
 
The FHA 203(k) is a great loan, and these steps will provide you with a road-map to understanding the process.
 
  1)    Buyer works with realtor to find the right property, or owner is ready for renovation on their existing property.
… (4 comments)

203k consultant Cottonwood and Redding - 07/22/12 03:01 PM
Congratulations to Tom Glenn, long time contractor in the Redding and Cottonwood area for over twenty years. Tom has gone to the distance to gain knowledge to be able to coach you and do your 203k inspections and feasibility reports.
Feasibility Report - This is a report used to help you determine the offer price. It is quick and very limited in scope. The idea here is to provide you with a 30 minute inspection and a report that identifies only the deficiencies in the home or 2-4 unit building. It gives the Realtor the added info needed to negotiate the … (0 comments)

High tension Towers and FHA loans in Concord CA to Concord NC - 07/20/12 07:28 AM
High tension towers can be a problem, most people just don't like them. Years ago I was one of three RE appraisers hired by Cal-Vet when I received a call about a home in Crockett CA. When I was asked to go appraise it, I immediately told my boss at Cal-Vet that we can't loan on that home. 
He asked "why?" and I informed him that I knew that house and there are high tension towers all around it. The home is clearly in the fall distance of a tower or two. 
He breathed a sigh of relief as he stated … (4 comments)

Home Builders - Contractors beware in Kansas - 07/19/12 05:06 PM
This is a call to arms. According to your state law, if you look at a home and report back to the owner that they need a roof, heating system and water heater as an example, YOU are in violation of state law that says you MUST be a licensed home inspector. 
The exemptions are trade contractors (not general contractors) who provide a bid on a single item, architects and engineers. If you were a HUD approved consultant for the 203k prior to that law and a licensed contractor (which HUD says is okay) you lost your job due to a … (2 comments)

203k loans in Mulvane KS - 07/14/12 03:10 PM
Kansas has made it harder to get a loan for their residents. The citizens of your fine state can thank the Home Inspection Licensing Board for taking a HUD letter suggesting that all 203k consultants must become a home inspector in the state if there is licensing. The State jumped right on that bandwagon and instead of letting that be the law of the land, created their own state regulation that says pretty much the same as the federal requirement. 
Once HUD was informed that they may have been too hasty in that decision as all of our engineers, architects, and … (4 comments)

What can an FHA 203k loan do for you in Walnut Creek? - 07/14/12 02:12 PM
Take a look at the obvious...

This actually had the look of an old converted double wide trailer don't you agree?
It is now under construction and is shaping up to be a nice rancher. The home is going to look fantastic when complete and anyone would be proud to live here. 

… (2 comments)

203k contractors - Walnut Creek to Oakland - 07/14/12 01:35 PM
Contractors are, as you would expect, a large part of our business. It is what makes the FHA 203k loan program work. Without them we couldn't get any work done. We do have some very goods ones that work on our projects but realize we don't mind at all when a client brings a contractor to us on their project, in fact we actually give them a copy of our eBook "Contractors and the FHA Loan Program" courtesy of the lender we are working with on that project "FREE" to the contractor.
Once in a while you get a contractor that … (0 comments)

How many draw inspections are allowed on an FHA 203k loan in Vallejo? - 07/11/12 06:14 AM
Just kidding, this is good anywhere in the USA and it's colonies.
It is one thing having a guideline and quite another interpreting it. The HUD guideline actually says something like "...a typical project size is $25,000 in construction and no more than five draws would be allowed."
Many, including many at HUD now are interpreting that to mean "only five draws are allowed". This is absolutely bogus and not true. Bank of America came out with a rule that once you reach five and there is only one more, you can have six... woo hoo. They go further to say … (2 comments)

Fires in Colorado Springs - 07/05/12 07:11 AM
I'd like to say I can't imagine being there and having to go through something like that, but we went through something like that a few years ago in a tornado. Instead of your stuff being burned up it was just blown away. I remember getting that call saying you suff is all gone, at least we weren't home.  I said, I guess I'd better get back there and see what I can salvage only to hear "what part of 'all gone' didn't you hear?" Wow it was amazing. 
While we are all feeling your pain at some point you will … (5 comments)