Jon Sigler, Connecticut FHA Mortgage Expert

'Tis the Season: Holiday Selling Tips

Jon Sigler Your FHA Mortgage Loan Expert (Residential Mortgages) — Mon, 07 Dec 2009 09:08:21 -0600

Via Debe Maxwell, Realtor® - Charlotte NC MLS - Charlotte NC Neighborhoods (Helen Adams Realty):

'Tis the Season: Selling During the Holidays

During the holiday season, the focus for many turns to home and family. Many buyers cease searching for a new home during this time; however, there are many others who have no choice--they must continue their search because of job transfers, family changes or relocation. Due to the fact that many sellers feel that during this holiday season, they would prefer not to be 'disturbed,' they will temporarily remove their homes from the market until after the first of the year.

I recommend that my sellers remain on the market during this time if at all possible. The reason--there is far less competition. Yes, there are fewer buyers but, the competition is far less and you've got a better chance of selling during this season than waiting for the spring's flood of new listings.

Consider this--holiday festivities are a breeze at your home that is on the market during this season because you have already done the work to constantly keep your home in showing order to be prepared for a showing at a moment's notice. Your efforts to reach out to potential buyers could pay off during this challenging time!

When your home offers the features and amenities. location and price that a potential buyer is looking for, you are more likely to sell it quickly in the winter than waiting for the spring or summer buying seasons. Your home may very well be looking its best this time of year. Here are some tips for setting the stage for your holiday listing:

Adorn your front door with a festive wreath.

Place a fresh welcome mat at the front door.

Minimize your holiday decorations--tastefully selected decorations will give the buyer a 'warm' feeling but, not distract their eyes from your home, which is what you want to ultimately sell.

Remove furniture to accomodate your decorations--you don't want your home to appear smaller than it is because you've tucked a small tree in the corner and pushed your furniture together to accomodate that tree.

Holiday scents will make your home seem warm and welcoming--consider boiling an apple slice and a stick of cinnamon just before a showing. You can store your boiling pot in the refrigerator for several days for re-use.

If you're only stepping out of the home for the agents to show, leave it toasty with a fire in the fireplace. Do not leave your home unattended with a fire burning though!

Because winter months can be dreary because of the weather, raise your blinds and leave the lights on.

Do not over-decorate--all buyers do not celebrate the holidays in the same manner that you do so, give your home a warm feeling but, don't overdo it.

Leave your stereo playing classical or jazz music softly during showings.

As you leave your home for showings, ask yourself if you've appealed to all senses: visual, smell and sound. You may even want leave them cookies to appeal to their sense of taste!

Other holiday incentives you can offer:

If you can cover the buyer’s closing costs, or a portion thereof, you may attract potential buyers to your home by advertising this information.

Offer a “decorating allowance” for purchasing your home during the winter months.

Keep in mind that when you place or leave your home on the market during the winter holiday season, people rarely “browse” for homes during this time of year. The potential buyers who do visit your home are serious about buying and are often in a hurry to do so.

The equation is simple: Serious buyers + tastefully done festive décor = you, well on the way to selling your home! 'Tis the season!

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If you or someone you know is thinking of buying or selling property in Connecticut or is looking to refinance their home in Connecticut -Please give Jon Sigler, Mortgage Banker with Franklin American Mortgage Company, a call! Call Jon at 860-306-8029 or e-mail at jsigler@franklinamerican.com. Be sure to check out Jon's website www.franklinamerican.com/jonsigler and blog at www.activerain.com/jonsigler.

Connecticut FHA 203K Rehab Loan - Buy Or Repair Your Home!

Jon Sigler Your FHA Mortgage Loan Expert (Residential Mortgages) — Sat, 05 Dec 2009 10:30:08 -0600

Certainly you have heard about the negative news recently about the real estate market and the surplus of foreclosed homes on the market and Connecticut is no exception. You may be thinking that right now is a great time to take advantage of the low interest rates and purchase one of those foreclosed homes. But the difficulty is that many of the foreclosed homes you have seen are in need of renovations and repair, you can't live in them right now. You don't have the cash to make these repairs and no lender will loan you money on a home you can't live in. Well, there is good news and it comes in the form of the FHA 203K Rehab Loan.

The FHA 203k Rehab Loan is a loan for the purchase and renovation of a property, you can also use it to refinance a property you already own and renovate or improve it. The current state of the property doesn't matter, only what condition the property will be in after the repairs have been made. So an FHA 203k Rehab Loan is a great loan obviously for foreclosures or bank owned homes being sold "as-is".

Some points of interest:

1. You take out just one mortgage that covers both the purchase of the property and the cost of renovations, repairs and upgrades you make. The loan can be amortized over 30 years, making payments affordable for you.

2. Because the loan is an FHA loan you benefit from the low down payment required on FHA mortgage loans of just 3.5% of the total loan amount which based on the lesser of the purchase price and renovations or 110% of the after improved value of the home.

3. There are many different repairs and improvements you can use the loan for. What repairs can you do? Structural alterations and additions, remodel the kitchen or bathroom(s), install appliances, modernize plumbing/heating/air conditioning/electrical systems, roofing, flooring, painting, or make energy conservation improvements. What repairs can you not do? Install a new tennis court, gazebo, or bathhouse, repair or make alterations that allow commercial use, outdoor fire pit or BBQ.

As you can see if you are considering buying a foreclosed or bank owned home in Connecticut that needs repairs or want to make improvements to your own home, the FHA 203K Rehab Loan could be just what you are looking for. Call me (860) 306-8029 to find out how you can use an FHA 203k Rehab Loan can help you to buy your dream home in Connecticut.

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Getting A Fixed Low Rate Mortgage in Connecticut

Jon Sigler Your FHA Mortgage Loan Expert (Residential Mortgages) — Thu, 03 Dec 2009 22:38:52 -0600

Are you feeling overwhelmed by your mortgage payments? In Connecticut you are not alone. Maybe the rate on your adjustable rate mortgage has adjusted up and now you are having a hard time with the payment. Maybe you have had a decline in your income and the fixed rate loan you thought was a great safe move is now hard to pay each month. You should consider refinancing today into a low fixed rate mortgage you may be able to save a bundle.

Save Your Credit Score By Refinancing

A few years ago adjustable rate mortgages looked like great options. The allowed you to take advantage of a booming real estate market and make the payment affordable at the time. Some of those who obtained an adjustable rate mortgage did not really understand what they were getting themselves into. An adjustable rate mortgage loan does just what its name implies, the interest rate adjusts periodically based on market conditions (your rate is a combination of an “index” and a “margin” and the “index” changes periodically).

Perhaps now your rate has adjusted up and you are now struggling to meet the payment on your mortgage. Some borrowers are forced into bankruptcy or end up being foreclosed upon due to the payment change. Whether you have a fixed rate or adjustable rate mortgage, if you are having difficulty making your monthly payments, you should attempt to refinance immediately.

Every time that you are late on your mortgage payment you damage your credit score. Many borrowers do not understand the full implication of making late mortgage payments, but the fact of the matter is that late mortgage payments are one of the most damaging notations that can be entered onto your credit report and should be avoided at all costs. Some mortgage options are not available if you have even one late mortgage payment in the past 12 months. (A late mortgage payment is one paid more than 30 days after the due date, not one paid after the 15th but before the 30th of month it was due)

Getting A Fixed Low Rate Mortgage in Connecticut

Today choosing a low fixed rate mortgage can offer you dependability and stability in your mortgage payment. One you can build your budget around. The longer the term you select the more affordable the monthly payment will be. Most borrowers select a 30 year term for repayment for the payment. If you originally had an adjustable mortgage the fixed rate loan will offer you a dependable payment that will not change in the future on you. Let’s talk about where you are and where you would like to me. A refinance of you current mortgage may help you to get where you want to be.

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Are Home Inspections for Renegotiation or Buyer Protection

Jon Sigler Your FHA Mortgage Loan Expert (Residential Mortgages) — Tue, 01 Dec 2009 22:11:20 -0600

Excellent article about home inspections. Please, please get a home inspection done when you are buying a home. Great advice in the post below:

Your home inspection is, without a doubt, going to reveal some items that need to be corrected. If they are minor, put them on your list of things to work on when you move in. If they are major safety, health or structural issues, then either ask the seller to pay for repairs, split it with them or use your contingency to pull out.

Via Rick Schwartz (William Raveis Real Estate):

It's fairly ubiquitous today to hire a licensed home inspector when purchasing a home. This is a good thing. For most folks a home purchase represents the largest amount of money to be spent in their lifetime. The home inspection contingency is typically one of the "big three" contingencies in an offer to purchase.

While specific language and format will vary, the basis of a home purchase agreement has, in essence, three components from the buyer's point of view.

We will purchase your home if...

You agree to our price

We can acquire appropriate financing

Upon inspection(s) the home has no defects which we deem unacceptable

If any of those contingencies are not met, the buyer has an out and will likely be able to recoup any money paid into an escrow or trust as a deposit.

I guess this is where I should put my disclaimers.

I am neither an attorney nor a home inspector - this post is to be construed neither as legal advice nor specific recommendations on any construction, structural, etc issues regarding a home you wish to purchase. Any similarities to actual persons living or dead is purely coincidental. One offer per household and finally - employees of Rick Schwartz Homes, any affiliates, wholly or partially owned subsidiaries or related companies are not eligible.

The question I'm posing, as a Realtor is this: Should it be assumed, by the buyer, that the seller should bear the cost of repairing any and all defects uncovered during a home inspection?

My purpose in this discussion is to raise the issue for thought as to why we do home inspections and should the buyer plan to use this moment to renegotiate the purchase price of the home.

We do home inspections in order to uncover defects in the home that might not be noticed during the shopping process. Things that might not be visible during a routine walk-through. Most defects are fixable. There is obviously, a cost involved in any remedy. The key point, in my opinion is one of expectations. The purpose of the inspection is to uncover things that were not likely to be apparent when you are in "shopping" mode. Examples:

If you see water dripping into a large puddle in the center of the basement directly under the kitchen, you should not be surprised when a home inspector reports a plumbing issue.

If you see scores of rodent traps on the floor in several rooms, you should not be surprise if the inspector hints that there might mice present.

If there is black tape across the front of several electrical outlets, you should not be surprised if the inspector recommends that an electrician check the place out.

If the front view of the house looks more like the one on the left in the image below, rather then the one on the right, you shouldn't be surprised at anything the inspector finds.

Serious point here is that your own walkthrough which happens long before you negotiate price should give you a general idea of the condition of the house. If you have a feeling that there are issues yet to be discovered, say so early on. Have your Realtor let the listing Realtor know that you are making a lower offer because you saw, this or that or the other. Take the condition of the house into account before you decide what you want to pay.

Your home inspection is, without a doubt, going to reveal some items that need to be corrected. If they are minor, put them on your list of things to work on when you move in. If they are major safety, health or structural issues, then either ask the seller to pay for repairs, split it with them or use your contingency to pull out.

Find Home Listings

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Owning a Home Has Its Benefits

Jon Sigler Your FHA Mortgage Loan Expert (Residential Mortgages) — Mon, 30 Nov 2009 20:49:18 -0600

Via Brandi Wells (Prudential Colony Realty):

Opportunity is knocking for those considering homeownership for the first time. Historically low interest rates, lower home prices in most markets and the first-time homebuyer tax credit - part of the American Recovery and Reinvestment Act of 2009 - brought first-timers to the market in droves throughout the year.

In fact, these consumers represented about half of home sales logged during 2009, according to the National Association of REALTORS®, a significant increase from historic levels. And the favorable conditions that prompted many of these first-time buyers are likely to continue. President Obama in early November signed into law a five-month extension of the first-time homebuyer tax credit of up to $8,000, as well as a new tax credit of up to $6,500 for existing homeowners who want to purchase a home to be their primary residence (see your real estate professional and tax advisor for details). Both credits will be available through April 30, 2010.

Today's opportunities aside, here are eight time-honored reasons why those considering homeownership for the first time should make their move.

1. Pride of Ownership - Owning your own home adds to your own sense of self-esteem and personal pride. The satisfaction that comes from feeling connected to the land you occupy and the home in which you live is ages-old.

2. Security of Tenancy - With homeownership comes stability. When renting, you never know when you may have to move because of new ownership, rent increases or other changes. As a homeowner, you decide when and if you want to move.

3. Privacy - While there are usually some limits on the access landlords have to property, almost all landlords can access your property for necessary inspections and maintenance. For many renters, this lack of privacy is a significant discomfort. Homeowners on the other hand generally have much stronger property rights and experience an increase in perceived and actual privacy.

4. Decorating - Homeowners are free to decorate, remodel and accessorize a home any way they want. Not only do you have the right to make improvements, but the value of those improvements becomes yours as well. Having your living space and exteriors just the way you want them can significantly increase your satisfaction with your living environment.

5. Financial Predictability - When you buy a home with a fixed-rate mortgage, you have more predictability over future housing costs. Because your interest rate never changes, the amount of your payment never changes. Financial planning and credit are more easily managed with a fixed-rate mortgage compared to renting.

6. Building Equity - When you own your own home, you pay rent to yourself instead of a landlord. Most homeowners pay for their purchase by obtaining a mortgage. As you pay off that mortgage, your equity builds and you gain an increasingly larger share in a valuable asset. Over time, that asset can work for you in many ways, such as home equity lines of credit. And of course, a home is a wonderful asset to pass along in an estate.

7. Investment Appreciation - There are certainly no guarantees of property value appreciation. In the long-term, however, real estate valuations almost always increase. This means that when you decide to sell your home, its value may be significantly higher than when you purchased it. The difference in value is called appreciation. You can reinvest that appreciation in other real estate or you may wish to downsize and keep the value of that appreciation for retirement or other purposes.

8. Tax Benefits - In the United States, the cost of home mortgage interest and property taxes are usually tax-deductible. Depending on your circumstances, thousands of dollars in taxes can be saved each year. These tax savings are not limited to federal taxes either. Many states and localities either base their tax system on the federal system or offer similar incentives to homeownership. Some additional benefits are designed specifically for first-time homebuyers. (See your tax advisor for additional information.

If you still have doubts, contact a real estate professional in your community. He or she can answer questions you may have about homeownership and explain the buying process to you.

Brandi Wells can be reached at 404-402-1489. Prudential Colony Realty is an independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential Financial company. Equal Housing Opportunity.
Brandi Wells ~ Prudential Colony Realty ~ 404-402-1489 Direct ~ www.BrandiWells.com

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Homebuyer Tax Credit: What's The Phase Out Range on Income Limits For Repeat Homebuyers?

Jon Sigler Your FHA Mortgage Loan Expert (Residential Mortgages) — Mon, 30 Nov 2009 20:46:41 -0600

Via Denise Hamlin, Iowa City Real Estate & Relocation Specialist (Vermace Realty - Locally Owned Real Estate Company):

I'm fielding a lot of questions about the homebuyer tax credit for repeat buyers and thought it worthwhile to answer individual questions as they come up. My last post in this "series" was to cover the question that you don't need to sell your home to qualify for the repeat homebuyer tax credit.

The question I got asked today was what the phase out range is on income limits for repeat homebuyers. I should mention that when it comes to income, the rules are same for First Time Homebuyers and Repeat Buyers.

First of all, it is the MAGI (Modified Adjusted Gross Income) that is taken into account. To determine your MAGI, you first need to know what your AGI, (Adjusted Gross Income) is. Your AGI is the total amount you earn in a year, minus certain deductions that are considered adjustments. It's the amount calculated on your tax return BEFORE your itemized deductions. The MAGI is the addition of income from a few other less common sources. For examples of those sources please see the instructions on the form 5405 that is used for filing for the tax credit. (Please note that the link is to the current form, I'll change the link here when they revise the form for the extended homebuyer credit).

So now to answer the question on the phase out range: There is a $20,000 phase out range. The following info comes directly from the IRS site and shows you exactly what the income limits and phase out range are. It's worth mentioning that these new limits apply to all closings after November 6, 2009 when the Bill was signed. If you were under contract before November 6 and at that time didn't qualify under the previous income limits, then you may be in luck now with the new income limits.

For purchases after Nov. 6, 2009, for a married couple filing a joint return, the phase-out range is $225,000 to $245,000. For other taxpayers, the phase-out range is $125,000 to $145,000. This means that the full credit is available for married couples filing a joint return whose MAGI is $225,000 or less and for other taxpayers whose MAGI is $125,000 or less. (11/19/09)

For more extensive info about the extended and expanded Homebuyer tax credit you may want to check out these FAQ's

Let's Connect and Get To Know Each Other...

Visit my Website: Search for Iowa City Homes for Sale

Please remember that opinions expressed in my blog are just that - opinions - not fact
For legal or accounting advice please consult with a professional
Although the information provided is deemed reliable, it's not guaranteed

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Enfield Square Mall Santa

Jon Sigler Your FHA Mortgage Loan Expert (Residential Mortgages) — Fri, 20 Nov 2009 10:33:02 -0600

"Christmas, children, is not a date. It is a state of mind." Mary Ellen Chase. What better way to get the children in the Christmas state of mind that a visit to Santa at the Enfield Square Mall?

Santa will be arriving at the Enfield Square Mall (Target entrance) on November 21st at noon on a bright red fire truck. From November 21st until Decmeber 24th kids of all ages can visit Santa in the Center Court of the mall. Have pictures taken with Santa. Tell him what you want for Christmas, maybe it is your two front teeth, maybe you need to lobby with him to not get coal this year, or you want to ask for what might be the hottest, hard to get gift this year the Zhu Zhu Pet Hamster. Who knew?

Not to leave out the four legged members of the family, Thursday December 10th from 4:00 - 7:00 pm bring your dogs to the mall and have their pictures taken with Santa.

When will Santa be there each day? Call the Mall office at (860) 745-7000 or email them.

The Enfield Square Mall is located at 90 Elm St. in Enfield, CT. You can visit Enfield Square by taking Interstate 91 and exiting on Exit 47E or Exit 48.

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Purchasing a HUD Home-Misconceptions and Advantages

Jon Sigler Your FHA Mortgage Loan Expert (Residential Mortgages) — Thu, 19 Nov 2009 07:01:13 -0600

Via Deanne Olivas (American Allstar Realty):

When purchasing a HUD home, there are misconceptions to replace with facts and advantages to consider. The following is information about the purchase of Arizona HUD homes.

First, exactly what is a HUD home? When a home is purchased with a FHA (Federal Housing Administration which is a sub-agency of HUD) insured loan and the borrower defaults on the loan, the lender may file a claim against the FHA insurance fund and convey ownership to HUD who then sells the home at market value to get back some of the loss from the foreclosure.

One misconception I have heard is that HUD homes are always in poor condition. I find that just like bank owned or short sales, HUD homes can be very clean and well taken care of or a disaster or anywhere in between. One of the advantages to a HUD home is that before HUD homes are listed, HUD orders an appraisal and property/pest inspection of the home. Anyone can go to the HUD website http://www.mcbreo.com/and read the report to see the condition of the property before viewing it.

If the property inspection determined that the property needs repairs but less than $5,000 and the buyer is using an FHA insured loan, for the home to be eligible for the FHA loan an escrow repair is established to cover the costs of the repairs to the home. The costs of the repairs are included in the loan amount and repaid by the borrower as part of the house payment.

It is advised that a potential buyer conduct their own home inspection by hiring a competent inspector. HUD homes are sold in "as-is "condition and HUD makes no warranties or quarantees about the condition of the home and will make no repairs. This is also the case in the purchase of a lender owned foreclosure property.

Another advantage for owner occupants (person that will live in the home as his or her primary residence within 30 days of the close of escrow) who are interested in purchasing a HUD home is that during the first 10 days a HUD property is listed to the general public, there is no competition from investors. Bids from Owner Occupant Purchasers only are accepted. All bids placed by Owner Occupants that are submitted during those ten days are opened on the 11th day and are considered as though they were received simultaneously. If there is no winning bid during those ten days the bidding is opened to include investors.

Another misconception is that HUD provides loans to persons who would not under other circumstances qualify for a loan. HUD does not provide financing for its properties. Before a person can place a bid on a HUD home they must be pre-approved for a real estate loan or have proof of sufficent cash to purchase.

A great advantage for those who do not have the downpayment required for a typical loan is that a buyer can purchase a HUD home for as little as $100 down. It is important to discuss the costs with an experienced lender and the price to bid with a HUD approved agent. Before a bid can be submitted, the buyer must have on deposit with the real estate broker an earnest deposit check. If the purchase price is $50,000 or less the required check amount is $500. If the purchase price is more than $50,000 the check amount is $1,000. Any unused portion will be reimbursed to the buyer at close of escrow.

The advantage of the sealed bid process is it eliminates many of the hassles associated with the typical lender owned or preforeclosure transaction where bidding wars and long waits are common. If during the first ten days of owner occupant bidding, no offer is accepted, bids are reviewed daily and the bidder with the winning bid is notified the following day. If more than one acceptable bid is placed, the bid with the highest net amount to HUD wins the sale.

If you have hesitated about considering purchasing a HUD home, realize that these properties open up another opportunity for purchasing a home at an afforadable price. With the assistance of an experienced HUD approved agent and a lender who understands the process, replace the misconceptions with facts and consider the advantages of purchasing a HUD home.

The process for buying a HUD home is different from a normal home purchase. Access to view HUD homes and place bids is restricted to a HUD approved real estate agent. For a partial list of AZ HUD homes http://www.eastvalleyphoenixhomes.com/hudhomes.html).

To get a list of all HUD homes that meet your criteria or to discuss if a HUD home purchase would be in your best interest, call Deanne Olivas, an approved HUD agent, at American Allstar Realty 480 452-5567.
Deanne Olivas

American Allstar Realty

480 452-5567

http://eastvalleyphoenixhomes.com

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Builders Downsize the Dream Home

Jon Sigler Your FHA Mortgage Loan Expert (Residential Mortgages) — Wed, 18 Nov 2009 08:32:07 -0600

Via Dorie Dillard: Canyon Creek & NW Austin Living (Coldwell Banker United):

As builders draw up blueprints for the house of the post-recession future, builders are struggling to distinguish among what home buyers need, what they want and what they can live without!

Most builders say the post-crash buyers of new homes want smaller and simpler. I'm seeing they are attracted to quality not quantity. Some of the things the home buyer appears not willing to give up is 4 bedrooms, a powder room down, at least a 2 car garage, a master bedroom with its own bath (with separate shower and tub) and granite countertops!

For the first time in almost four decades in the luxury-home market executives of many builders are thinking the unthinkable: Maybe houses don't need 4,700 square feet of living area, or fireplaces or private theaters with 100-inch screens or supersized foyers!

The American housing market continues to drag, with the Mortgage Bankers Association reporting last week that applications for home-purchase loans have hit a nine-year low. U.S. home sales of newly built homes have fallen sharply as well, from 1.3 million in 2005 to 485,000 in 2008. But, people will always need to move...some to new jobs across the country, some into smaller homes now that the kids are off to college and some to larger homes with expanding family.

The main ingredient changed in the buying decision is the "impression factor". We had an ego-driven market where "bigger" was considered better and now "conservative" translates to "smarter". Resale has just become the "key" in home sales. Sometimes less is more.





Dorie in   Austin

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Send A Gift- Thank You Card To Our Soldiers- Xerox Let's Say Thanks Program

Jon Sigler Your FHA Mortgage Loan Expert (Residential Mortgages) — Wed, 18 Nov 2009 08:27:56 -0600

Via Nestor & Katerina Gasset Realtors® Wellington Florida Luxury Homes (International Properties and Investments, Inc.):

Thanks to Xerox sending out a Thank You card to our soldiers is simple, fast and free.

At this time of the year we can take some time out to teach our children about giving thanks and living in gratitude.
The best way of course to teach gratitude is by being a good example of being in a thankful state of mind.

You can gather your children around your computer right now and go to this site:

Let's Say Thanks- In Support of our Troops.

All you do is click on the card you want to send and then click on what you want the words on the text side of the card to say.
You don't even have to think to do this because it is all done for you. You just have to choose the card and the text out of the ones on the site.
Then you just click send.

Xerox prints out the postcards and then these cards go into the care packages that Givetothetroops® sends to our soldiers.
What a gift Xerox is giving to the troops. I really appreciate a company setting a great example like this.
The cards have all been designed by children and are patriotic. There are many patriotic symbols and messages to choose from.

There is a link on the site where you can read the responses from soldiers around the globe.
For some of these soldiers, your card will be the only mail they get from home.

Here are some of the comments sent back by different servicemen and women:

To all who have supported us,

I would like to take this opportunity to say thank you from myself and my fellow Marines. Your packages and well wishes have lifted our spirits at a time when we are so far away from our friends and family. I wish you could have seen the bright eyed looks and utter excitement from the Marines when opening the boxes. It was a true blessing that you made happen. It makes us proud to know that our fellow Americans care as much as we do. It makes the sacrifices we and our families make worth every minute we spend here. We Americans can stand shoulder to shoulder in unison on one thing - we're all proud of our country and we're all proud of each other. The effort you make on behalf of the troops is just as important as the work we are doing here and around the world.

- A Gunnery Sergeant

As I was leaving an un-eventful Valentine's Day today, one of the mail clerks yelled "Adams!! You have a package!!" A package, I thought to myself. I'm not expecting anything. What could this be? I took the box into my office and closed the door. As I opened the box, a flood of joy came over me as I looked over the cards from you and the young ones, one of my co-workers walked in to see tears rolling down my eyes. I had never received a gift with this much love, packed into one little place from someone that I've never known.

As I thought about what the cards talked about with soldiers giving their lives and privileges up to ensure the freedom of Americans, it was nice to know that someone out there does not take it for granted. I don't know who you are, but you are truly a gift from God. The gift that gives me the drive to serve my country proudly. As you pray that the Lord keeps the soldiers here safe and brings us home, I pray to the Lord that people like you do not die off from this world. Your contributions are nowhere near inadequate. Please never forget what this means to a soldier. Thank you for your love and thoughts.

Please be kind- take a moment out of your day to send a card for free to a soldier today. Please Reblog!

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Mortgage Modification and Short Sale in Connecticut

Jon Sigler Your FHA Mortgage Loan Expert (Residential Mortgages) — Sun, 15 Nov 2009 19:16:57 -0600

Via Gregory Arcaro (Brown, Paindiris & Scott, LLP):

The current real estate and foreclosure crisis began two or three years ago. Since then homeowners have been trying to modify their home loans. As a result, banks are overwhelmed with loan modification requests and short sale requests. Many banks were unprepared for the number of requests received. All of this equals up to homeowners who qualify for home loan modifications being left in limbo while they wait for answers. Often this process comes at the worst time... in the middle of a foreclosure proceeding.

The government did come through to help with this problem, which was President Obama's Home Affordable Plan. HAMP (Home Affordable Modification Program) is a $75 billion program designed to help people afford their mortgages and stay in their homes. One program it funds is a home loan modification program. Lenders are encouraged to assist borrowers who are having trouble keeping up with their monthly mortgage payments. The banks are rewarded $1000 for each home loan modification that they complete, so they are more than willing to help. Also, they are more than likely to make more from the renegotiated loan than they are from the foreclosure.

A home loan modification is a renegotiation of your mortgage. This modification can reduce your interest rate; change your rate from variable to fixed, or even both. It can extend the duration of the loan (usually up to between 30 and 40 years). It can even lower the principal for borrowers whose homes have lost their value. It can also take a mortgage arrearage and put it at the end of the mortgage, sometimes called a balloon. Any one of these changes can mean the difference between the homeowner keeping their house or losing their house. Fortunately for borrowers in Connecticut, mediation is mandatory in most foreclosure cases, and the banks must participate in good faith in the process. So there will be an opportunity to attempt a mortgage modification during the foreclosure process.

If the lender doesn't renegotiate, then the other alternatives could be a Chapter 13 Bankruptcy (see my recent article on bankruptcy) or a short sale.

A short sale is when the homeowner sells the house for less than what is owed to the bank, and the bank accepts the money and erases the rest of the debt. Banks will sometimes do this because it is preferable to them owning a house it may take months to sell under in the current housing market. Often a short sale is negotiated by an attorney with bank or its representatives (often their attorneys). But realtors are critical to this process. Often the bank will want to know how aggressively the property was marketed. The bank will want to know how long it has been on the market, how many showings, how many open houses and how many offers the owners have received. It is critical that the realtor maintain this information accurately and be able to deliver it quickly. The bank wants to be assured that the house is being sold for the highest possible price before it releases its mortgage.

I hope that this information has been helpful. If you have any questions, please fee free to contact me at garcaro@bpslawyers.com.

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Manchester Connecticut Foreclosure and REO Properites 6 Tips For A Successful Offer

Jon Sigler Your FHA Mortgage Loan Expert (Residential Mortgages) — Mon, 09 Nov 2009 09:48:20 -0600

Buying foreclosure or REO property in Manchester, Connecticut can sometimes provide you with a great bargain. Not all foreclosure or REO properties are great bargains. How can you make sure your offer is great and more likely to be accepted by the bank or owner of the property? Use these six tips for a successful offer:

What did the current owner pay for the property and what kind of loan did they use. This matters so you can see what the bank may need to receive in selling the property. If the original loan was an FHA loan there is insurance that will cover 100% of the shortfall (if there is one). Getting this answer usually requires going to town hall and that can also provide you with information about the status of the property.
The market value of the property. You want to know what that is today and if the property needs work what it will be with that work completed. You care about what the property is worth repaired since you will need to pay for those repairs. You don't want to "over pay" for the property so at minimum the cost of the repairs should be subtracted from the after repaired value in determining your offer. Considering there are great unknowns in renovating properties you should subtract some extra to give yourself room for error.
Scrutinize the REO and foreclosure listings. – Look at the value of other foreclosure or REO homes andnormal "arms length" transactions. What kind of "discount" do foreclosure or REO properties receive in Manchester? This takes a little detective work since know the condition of they were in is difficult.
Cash offer. – The banks usually prefer cash offers. But we know there is little possibility that you will make a true cash offer, nice idea right?. What can you do to make your offer stronger? Ask about an FHA 203k loan, it will allow you to have the money to buy and fix up the property in one loan. A bank will respect that loan option as having more likelihood of closing. Make sure to not only talk with but show your loan officer your pay stubs, bank statements and make sure that your credit has been pulled BEFORE writing your offer. How you calculate your income and how an underwriter do may be two different things, one may not qualify you for the home you want. Make sure your loan officer knows the property is in need of work, or is a foreclosure. This may limit the loan programs that can be used.
Take into account the number of offers. – Your offer should also be dependent upon the number of offers that have been made for the property. If the house has been on the market for many, many months with no takers it might be possible to offer less, but likewise don't expect a low-ball offer to be accepted on a clean ready to move in foreclosure with heavy showing traffic 2 days after going on the market.
Inspection – Banks don't like inspections, so do them BEFORE making your offer, or understand most banks will sell "as-is". An "as-is" contract might allow you to inspect after going to contract it might not allow you to exit the contract for inspection issues. Might as well inspect before making the offer and becoming obligated to purchase the property.

These six tips will help you to successfully make an offer on a foreclosure or REO property in Manchester, CT. Are you looking to purchase a foreclosure or REO property in Manchester, CT or the surrounding towns? Ask about an FHA 203k loan. A 203k loan will allow you the finds to both purchase a home in need of repair, but also the money you need to pay for those repairs. Thanks to http://www.flickr.com/photos/jbhill/ for a great photo.

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The New and Improved Home Buyer Tax Credit

Jon Sigler Your FHA Mortgage Loan Expert (Residential Mortgages) — Sun, 08 Nov 2009 21:40:03 -0600

It is now official, the President has signed the extention of the home buyer tax credit. Yeah. If you had not found a house or were worried about being able to close by the end of the month you have time once again.

Via Claudette Millette - Metrowest Mass Exclusive Buyer Broker (The Buyers' Counsel):

The much-anticipated extension to the home buyer tax credit has finally been approved. The Senate's vote yesterday resulted in a 98-0 win and today it was passed in the house. The bill now moves to the President's desk for a final signature.

First-time home buyers have been eligible for tax credits of up to $8,000 since last January as part of this year's economic stimulus package. The newly backed program will expand the credit to include existing home owners.

Under the revised program, those who have owned a home for at least five years will be able to apply for tax credits of up to $6,500 when they purchase their next home.  To qualify, buyers will have to sign a purchase agreement by April 30, 2010 and close by June 30.

The maximum purchase price on a home will be $800,000 with vacation homes not eligible. Income limitations are $125,000 for single tax payers and $225,000 for joint filers.

The National Association of Realtors (NAR) and the National Association of Home Builders (NAHB) have been lobbying hard for the extension and expansion of the tax credit. NAR claims that so far, about 1.4 million first-time homebuyers have qualified for the program and they estimated that 350,000 of these buyers would not have otherwise purchased.

The tax credit is also set to be extended for another year for military personnel serving outside of the United States until June 30, 2011.

Senator Johnny Isakson, who heavily pushed for the extension, along with his own version that would have increased the credit to $15,000 stated, "This is probably the last extension."

But, is this really true? When April 2010 comes around and the housing market is still not in full recovery mode, will the politicians be able to let this go and actually come to an end, or could it possibly become a more permanent subsidy?

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Copyright 2009 - Claudette Millette, Broker, Owner, TheBuyersCounsel - 800-392-1446  - E-mail

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Connecticut Lowest Interest Rate Mortgage Refinance Loans - 3 Ways to Get a Low Rate Refinance

Jon Sigler Your FHA Mortgage Loan Expert (Residential Mortgages) — Wed, 04 Nov 2009 20:34:40 -0600

Connecticut Lowest Interest Rate Mortgage Refinance Loans - 3 Ways to Get a Low Rate Refinance

Getting the lowest rate possible when refinancing is very important. If you are looking to refinance to lower your monthly payment the lowest rate will give you the lowest payment. If you are looking to get cash back when refinancing the lower your interest rate the lower your monthly payment. Since not all refinance loans are created equal your should follow these three tips when applying for your loan to get the lowest interest rate mortgage refinance loan here in Connecticut.

1. Refinance It All

If you have a 2nd mortgage or home equity line of credit you may look to refinance both loans together into your new loan. Leaving a 2nd mortgage in place increases the risk of your new loan and can increase the cost of your new loan. Combining the two loans may also reduce your monthly payment compared with the 2 payments. Lets explore both options and find out which is better for you.

2. Don’t Cash Out All Your Equity

Receiving cash back at closing, or "cashing out" can also raise your interest rate. The more equity in your home at closing the lower your interest rate could be, the less equity you have in your home the greater the risk to the lender and in turn the interest rate for your loan. If you plan on "cashing out" we should explore the amount of money you need and if different amount could impact your final cost of your new loan.

3. Lower Your Rate With Points

No one likes points and considering the common thought is that they just pad lenders pockets it is no wonder no one likes them. In reality they will get you a lower interest rate for the life of your loan. Planning in being in your home long enough that they make sense, a doubling or tripling your "investment", we should explore if they make sense. If they will not provide enough return they should be avoided. Before simply saying "No" we need to talk and find out what the options are with and without points and which option is best for you. If your goal is to save money picking the option that saves you the most money is the right option.

Just remember that the lowest interest rate will not always be the cheapest loan. Factor in the cost of closing costs when comparing your options. I look forward to helping you get the lowest interest rate mortgage refinance loan here in Connecticut.

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How To Request Your Credit Report

Jon Sigler Your FHA Mortgage Loan Expert (Residential Mortgages) — Fri, 30 Oct 2009 10:38:01 -0500

How To Request Your Credit Report Checking your credit report regularly is a good move and can help protect you from identity theft, find and correct errors or unauthorized access. The Fair Credit Reporting Act guarantees you access to a free credit report from each of the three nationwide reporting agencies Experian, Equifax, and TransUnion every year. There are some other times you are entitled to your report for free such as, if you have been denied credit or insurance and your credit was a part of that decision; you are unemployed and plan to look for a job in the next 60 days; you are on welfare, or if you live in certain states (Connecticut is not one of them). You can always obtain your report by paying for it (currently no more than $10.50) from each of the bureaus at any time, but hey if it is free that is much better. Why spend money if you do not have to?

How to request your credit report, select in one of the three ways:

Online. Make sure that you visit AnnualCreditReport.com. It is the only authorized source of your free annual credit report. Do not be fooled by impostor sites, or come-on's like "FREE" this or that. You need to be prepared to confirm your identity, that will include the usual name/address/social security number as well as if you have a bill with this or that company and about what the monthly payment is. You also need to make sure you follow the onscreen prompts to make sure you end up back at the AnnualCreditReport.com site so you can request each of your three reports, it is not a one request get all three at one time set up.

By Phone. The phone number to call is 1-877-322-8228.

By Mail. Use this credit report request formto obtain credit report by mail. The link will open a pdf document in a new window. Print the form, complete and mail to: Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281. The address will also be on the form.

The Federal Trade Commission has a a great website dedicated to obtaining your free annual credit report. Check it out, there is lots of great information there. They remind you anyone Anyone can write a catchy jingle, but only AnnualCreditReport.com provides you with a truly free credit report. AnnualCreditReport.comrequires no hidden fees or trial memberships.

How to request your credit report, there are 3 easy ways to make your request. Pick the option you feel most comfortable with and start protecting your identity, and fixing any errors that you may have on your report. A hint on adding identity theft protection, request one report at a time. Spread your requests out throughout the year (say Experian in February, Equifax in July and TransUnion in September) and be able to check your credit three times a year, not just once.

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Manchester FHA Mortgage Loan - How to Pick a Lender in Manchester, Connecticut

Jon Sigler Your FHA Mortgage Loan Expert (Residential Mortgages) — Thu, 29 Oct 2009 14:25:06 -0500

Manchester FHA Mortgage Loan - How to Pick a Lender in Manchester, Connecticut

Picking the right lender can have a large impact on the success of your real estate transaction. Selecting the right lender can help you to ensure you have selected the right mortgage loan for your situation as well as made sure you got a smart economic deal. Remember a great price on the wrong loan is often thousands of dollars more expensive than the right loan, and a great price that never closes is not a great price.

Tip #1- It is best to consult a real estate professional in the Manchester when picking a lender. Real estate professionals will recommend only the best local lenders as they constantly appraise lenders’ ability to deliver loans and contract terms. They will never suggest untrustworthy lenders to their client as the failure of the lender will cause them to lose their clients and good reputation. Hence they usually suggest only extremely well known lenders that they would use for their own mortgages. Ask Brian Burke, Manchester Real Estate Professional who he would recommend for an FHA Mortgage Loan in Manchester, CT. 860-798-3272.

Tip #2- It is better to use a local lender company in Connecticut than opt for online lenders. Local lenders are well versed in the local laws of the Connecticut. They can solve your mortgage problems better when they arise. Online lenders may entice you with paltry savings; however they may not have loan officers capable of evaluating your situation and selecting the best loan for your situation. They may provide you with Good Faith Estimates which are not complete or have errors leaving you with a closing surprise where you needed hundreds or thousands of extra dollars at closing. They are likely not trained to help you to select the right time to lock, it might be RIGHT NOW, and it might closer to your closing, but are simply call center order takes. Ask them what drives mortgage rates, if they say T-Bills, close your browser and call Jon Sigler 860-306-8029. (Hint the right answer is mortgage backed securities)

Tip #3- You must have a face to face meeting with the lender to sign the application, not because it is required with an FHA Mortgage Loan in Manchester but because it makes you feel comfortable. Will they meet you at your home or another location where you feel comfortable? Are they available in the evening when you are out of work? In general do you feel comfortable? A mortgage is not a time to be hustled, or have a beginner handle things. We are working with your largest asset and your largest monthly bill.

Tip #4- Choose only a lender who makes complete disclosure of all aspects of the loan and puts everything in writing. The lender should reveal all fees, payments and if you choose a broker the commission calculations of the loan. As the broker to specify exactly how much they will be making, not a range of 0-2%, or even a round number. Yield Spread or “YSP” is rarely if ever a round number. Costs like property taxes, credit report inspection costs, escrow fees and pest examination fees should also be disclosed upfront. Your lender must furnish you his GFE-good faith estimate within three days of applying for the loan. He must also enlighten you on prepayment penalties that he will impose for loss of profits due to refinancing and rate slashing when you pay earlier than expected. Make sure that the good faith estimate has enough money for being set aside escrows. It is an easy way for one lender to look better than another, but in reality at closing all lenders will collect the same amount regardless of what your loan officer or broker said or showed you upfront. Ask for a written rate lock agreement, that simple document can eliminate a great deal of transaction frustrations. Your rate is not locked at what it shows on the application, it is locked to what shows on your rate lock.

Following these simple tips can help you to select a great lender to help you with your mortgage needs.Are you looking to buy a home in Manchester or the surrounding area? Call Jon Sigler Manchester FHA Mortgage Loan expert at 860-306-8029. He will be glad to meet with you at your home and will put everything in writing to eliminate surprises.

Thanks to http://www.flickr.com/photos/nate_kate/ for a great photo!

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Enfield FHA Mortgage Loans - Top 5 Questions About FHA Mortgage Loans

Jon Sigler Your FHA Mortgage Loan Expert (Residential Mortgages) — Wed, 28 Oct 2009 22:08:20 -0500

Enfield FHA Mortgage Loans - Top 5 Questions About FHA Mortgage Loans

FHA Mortgage Loans are now one of the hottest loans available and considered as one the best ways to fix the housing crisis currently in the US. Started during the Great Depression of the 1930s, the Federal Housing Administration since then secured loans for millions of Americans who want to own a home.

What makes an FHA mortgage loan so great? Here are answers for 5 common questions about Enfield FHA mortgage loans:

1. What are its prime benefits? The ability to purchase a home with less than a 20% down payment along with guidelines which are understanding of first time buyers and those who have had issues in their past. Because the loan is guaranteed by the government lenders are more willing to accept the greater risk presented by a low down payment FHA mortgage loan. Currently the cost of the FHA mortgage insurance is less expensive than PMI or "Private Mortgage Insurance" which has gotten more expensive since the "meltdown". Also PMI requires a down payment of 10% (this could change in the future but was accurate in October 2009 for loans here in Connecticut) where FHA only requires a borrower to put down 3.5%.

2. Who can qualify for this loan? In general terms a borrower can qualify if they have stable employment, good credit (currently a 620 score or greater will indicate good credit), and have the small 3.5% down payment ($3500 per $100,000 of the loan) available. You must also not own another property which has a government guaranteed mortgage on it (FHA, VA or Rural Housing). To confirm you are eligible for an FHA mortgage, please call me. You DO NOT have to be a first time buyer to get an FHA mortgage, and you may get an FHA mortgage again if you have had one in the past.

3. Can someone with blemished credit history qualify? You may have had credit troubles in the past and still qualify for an FHA mortgage. A bankruptcy, a foreclosure, collection accounts, or judgments. You should be able to demonstrate that your troubles are in the past. Each situation is different so if you have blemished credit, please call me. You may be surprised to find out you are able to buy a home right now, if not we can create a plan for you so you can buy a house in the future. It is possible, call me.

4. What information do I need to give you when I apply? We will want to know where you have lived for the past 2 years, your landlords contact information is helpful to have available. We need to know about all the jobs you have had in the past 2 years, including company name, address, phone number, job title and dates of employment. For your current employment we will want a months worth of pay stubs, and your last 2 years W2's. For your down payment we will need your last 2 months bank statements, or last quarters statement. This is a quick overview for a list that applies to you and your situation please call me.

5. Is there a pre-payment penalty? FHA loans do not have pre-payment penalties. You can pay any amount extra from a few extra dollars with each payment or the entire balance in advance.

As you can see an FHA Mortgage Loan is a great way to finance your new home. It could allow you to make a minimum down payment, have just okay credit with troubles in your past and be able to pay the loan off early should the opportunity present itself. A great combination for anyone looking to buy a home. Call me to find out if an Enfield FHA mortgage loan is right for you. 860-306-8029

Thanks to http://www.flickr.com/photos/danielsphotography for a great photograph!

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Bristol FHA Mortgage - The Benefits of Prequalifying for a Home Mortgage in Bristol, Connecticut

Jon Sigler Your FHA Mortgage Loan Expert (Residential Mortgages) — Wed, 28 Oct 2009 14:37:41 -0500

Bristol FHA Mortgage - The Benefits of Prequalifying for a Home Mortgage in Bristol, Connecticut

Getting prequalified for your mortgage loan is a measurement of your commitment and dedication to making an actual purchase of a property in Bristol. This also gives benefits to all three players in the purchase of a home: the buyer, the seller and the real estate agent. Here are a few benefits of getting prequalified for a mortgage before you actually take the time to look for a Bristol home.

Benefits to the seller

Knowing that you are able to purchase their home will bring credibility to your offer. A prequalification letter is a big step in proving that point to the seller. When that letter comes from a company that is local, or the agents have experience can bring more value to that offer as well. Far too often everyone has been left hanging when the processes started with an internet lender who didn’t properly pre-qualify the borrower, or maybe they don’t offer FHA Mortgage Loans in Bristol.

The Benefits to the Real Estate Agent

Any real estate agent in Bristol will tell you that it takes a lot of time and energy to help his clients find their perfect home. If the bank does not approve their buyers loan that Real Estate Agent has lost those hours and revenue. By taking the time to get pre-qualified before looking at homes shows your Real Estate Agent that you are serious and also able to buy a home.

Your own benefits

You will find that your Bristol real estate agent is much more dedicated to giving you the time and energy necessary to help you find a great home. Also, the seller will take you much more seriously when you place an offer, because he can assume that you are able to purchase their home, because you took the time to get prequalified for your mortgage.

There is a lot of free information available to you about buying, selling or investing in Bristol real estate. For complete information about the Bristol real estate market including current homes for sale, property values and mortgage options including Bristol FHA Mortgage Loans more please call me on my cell at 860-306-8029.

Thanks to: http://www.flickr.com/photos/michiganmoves/ for a great photo.

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10 Commandments Home Buyers Must Follow

Jon Sigler Your FHA Mortgage Loan Expert (Residential Mortgages) — Thu, 22 Oct 2009 10:11:47 -0500

When buying a home there are things a buyer can do to help the process and things they can do to hinder the process. This excellent post by Dr. Chantal Saucier of Keller Williams Realty Acadiana is an excellent list of do's and don'ts.

For the Mel Brooks fans out there we know that in History of the World Part 1, Moses originally had 15 commandments and he drops one of the tablets, giving us just the 10 commandments. (I like comedies!) So I'd like to add a few additional "Commandments" that I also find valuable and hope that when buying your house you don't drop the 3rd tablet.

1. Keep copies of your pay stubs.
2. Keep copies of your bank statements.
3. If you are going to get a gift, or take money from your 401k talk with me BEFORE taking the money out, or making the deposit.
4. Tell your loan officer what they need to hear, not what you think they want to hear or only what you want to tell them.
5. Find a house you really love, and can afford.

Via Dr. Chantal Saucier (Keller Williams Realty Acadiana):

These 10 Commandments home buyers must follow may seem like common sense to many. Buyers, however, can sometimes forget with all the excitement surrounding the buying of their new home. In the past couple of weeks, I have heard of two separate buyers who saw their home loan turned down, and their dream shattered, a few days before closing because they had bought furniture for their new home before it actually became their home. Both of them now have beautiful furniture with no home to put them in.

These two buyers were not my clients but it always hurts when I hear of transactions falling apart for reasons that could have been avoided. These 10 commandments are part of the buyer packet I give all my clients when we first meet and I always stress that once they get pre-approved and the process is started, they can't do anything that might affect their credit.

1. Thou shalt not change jobs, become self-employed or quit your job.

2. Thou shalt not buy a car, truck or van (or you may be living in it)!

3. Thou shalt not use credit cards excessively or let your accounts fall behind.

4. Thou shalt not spend money you have set aside for closing.

5. Thou shalt not omit debts or liabilities from your loan application.

6. Thou shalt not buy furniture.

7. Thou shalt not originate any inquiries into your credit.

8. Thou shalt not make large deposits without first checking with your loan officer.

9. Thou shalt not change bank accounts.

10. Thou shalt not co-sign a loan for anyone.

If you are in the process of buying a home, remember that your credit must not change or be affected in any way until you actually sign the paperwork and get possession of your new home. Lenders will not only look into your credit when you first get pre-approved, they will check it again (and sometimes again and again) before they let you sign the mortgage. If you want to buy new furniture for your home or change jobs, just be patient. There will always be time to do it after the closing.

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Getting a Fixer Upper in West Hartford - What to Look for in a West Hartford Fixer-Upper

Jon Sigler Your FHA Mortgage Loan Expert (Residential Mortgages) — Tue, 20 Oct 2009 21:08:39 -0500

Getting a Fixer Upper in West Hartford - What to Look for in a West Hartford Fixer-Upper

Have you been thinking about getting a fixer upper in West Hartford as an investment that you can repair and sell later? Maybe you want to buy it to live in it. Either way, finding a good one can be a real money-maker. Here are a few ideas of what to look for when you are searching for a Fixer Upper in West Hartford as your next home.

1. Simple Problems -You need to find a West Hartford house that looks incredibly ugly, yet has very simple problems. Painting, flooring and other superficial problems can be a gold mine in an old house. They can prevent a sale even when the West Hartford home is full of potential. Many buyers are scared by even simple repairs, or they can't see through the "ugly" and see the "beautiful" it can be.

2. No Structural Problems - Structural problems in a home are usually too costly to repair, at least they bring great unknowns to the total costs. Some structural difficulties can be difficult to spot, and you may need to call in a professional for a home assessment in order to find them.

3. A Good Neighborhood - Although it is more difficult to find a fixer-upper in a good West Hartford neighborhood versus a bad one, you can spot some hidden gems that can equate to thousands of dollars in the long run. Are you planning on living in the home after it is fixed up, then you will care about the location of the parks, or proximity to your work, and more. Going to Rent the property after think about access to the bus line, and remember the more bedrooms the greater the rental income.

Financing a West Hartford Fixer Upper can be easy if you plan to live in the property afterward. There is a great program that will provide you with the money to purchase the property as well as the money you need to fix up the property. All with an incredibly low down payment! Let me give you all the details of this awesome loan program.

If you need more free information about selling, buying or investing in West Hartford real estate, feel free to contact me. For complete information about the West Hartford real estate market, including the most recent homes for sale including Fixer Uppers, current property values and more please call me on my cell at 860-306-8029.

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West Hartford Green Home - Is The Hose Eco-Friendly

Jon Sigler Your FHA Mortgage Loan Expert (Residential Mortgages) — Wed, 23 Sep 2009 22:40:47 -0500

West Hartford Green Home - So you want to buy a green home in West Hartford, but don’t know where to start? There are many points to consider when evaluating if a home is environmentally friendly. Being green is more than just using eco-friendly products. Other items to look at include sustainability and efficiency.

Of course using products that were produced with the environment in mind is important. However, sometime it can be green to use an older product. Recycling vintage products such as antique flooring or decorative hardware is eco-friendly because new materials and energy are not being consumed to create the product and the previously used items are not going to the landfill. New homes and newly remodeled homes are using this practice more and more. A great source in the West Hartford area is The ReCONNstruction Center.

When new items are purchased for a West Hartford green home there are several points to consider. Water and energy consumption are big factors. A green home can appear to be the same as a traditional home. Both homes have toilets, water heaters, showers, clothes washers, and garden irrigation systems. The difference between the two houses is the green home chooses environmentally conscious designed appliances to do the job. A tankless water heater uses less energy to heat because the water is heated only when called for. Traditional water heaters use energy to keep the water in the tank hot 24/7. Showerheads in the bathroom and faucets on all of the sinks can be installed with flow restrictors. This will use less water. A front load washing machine uses much less water than a top load machine, in fact the University of Leeds has designed a machine that uses just one cup of water per wash!

The landscape of a home can tell a lot about how efficient and sustainable it is. The orientation of a home on the land should be eco-friendly. When looking at homes in the West Hartford area notice how the home sits on the property. It should make the most out of daylight. This will reduce the need for heating and lighting. Landscaping is important too. Plants that are native to New England have many benefits over other landscaping. Native plants use less water, need less maintenance, and generally are less susceptible to pests. Other green landscaping practices include a system for gathering rain water and grey water to use as irrigation. Well placed trees can make the property look good and also help shield the home from the summer sun thereby reducing your cooling needs and costs.

Green homes help the homeowner’s budget as well as the environment. Looking at a home which needs renovation, consider a “green” renovation and an FHA 203k loan that allows you to finance both the cost to purchase the property but also the renovations. Get the money to install that super efficient furnace, insulation, energy star appliances and more. Ask me for information about how you can finance your “green” renovations.

There is a lot of free information available to you about buying a green home in West Hartford. For complete information about the West Hartford real estate market including current homes for sale, property values and more please call me on my cell at 860-306-8029 or email me.

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South Windsor Homes For Sale - A Checklist for the First Time Home Buyer in South Windsor

Jon Sigler Your FHA Mortgage Loan Expert (Residential Mortgages) — Thu, 17 Sep 2009 20:26:44 -0500

South Windsor Homes For Sale - A Checklist for the First Time Home Buyer in South Windsor

Buying your first home in South Windsor, may very well be the most important decision you will make in your life. You are in for an exciting journey and adventure. As long as you know what lies ahead you will be well prepared for home ownership and all it entails. Here's a brief checklist of some of the most important things you should keep in mind when looking for your first home in South Windsor.

#1 - How much can you really afford? Before you start looking you at South Windsor Homes for Sale you should have a price in mind that is not flexible and cannot be increased. It is tempting to take a look at South Windsor homes that are more expensive than your budget, but if you fall in love with one of them you may end up buying it and later regretting it. You want to be house happy, not house poor. This maximum price will come from talking about what you can afford and what you feel comfortable paying each month for your house.

#2 - Do you want a home that is in perfect condition or do you mind putting some more work into it after the purchase? You may be able to find a South Windsor home that needs a small amount of work and be able to get it at a decent price because of that. Some people want a home that is perfect and requires no repairs at the time of purchase, while other people want to roll up their sleeves and do their own work. This is a decision you should make before you start looking at houses in South Windsor, because it will narrow down the search for a home significantly. In the end it may be a financial decision, you may need the lower month payment just to afford the home you want, or you may say a certain increase for a perfect home is worth the cost and time of doing so after you purchase the home.

#3 - Although it may seem unimportant at first or even silly, buying a house with two floors or more will mean a lot of stair climbing. Some people really don't mind the stairs, while others prefer all the rooms to be situated on one floor. If you are buying this South Windsor home as a potential place of retirement in the near or distant future, you may want to consider getting a bungalow or ranch style home. Some people really don't mind the stairs, while others prefer all the rooms to be situated on one floor. Think about the life events that could happen for you while you own the home. Make sure it works for you today, but also for you "tomorrow".

There is a lot of free information available to you about buying, selling or investing in South Windsor Homes for Sale. For complete information about the South Windsor real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything South Windsor real estate SouthWindsorRealEstate.com. Please feel free to contact me with any of your real estate or mortgage related questions and I will be more than glad to answer your questions. Call me on my cell at 860-306-8029 or email me.

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The Longest Dinner Table in South Windsor, CT September 26, 2009

Jon Sigler Your FHA Mortgage Loan Expert (Residential Mortgages) — Wed, 16 Sep 2009 22:22:31 -0500

The Longest Dinner Table will be held in South Windsor, CT on September 26, 2009. This is the 3rd annual, and is the signature fundraising event for the South Windsor Public Education Fund Committee.

It will be help from 5:00pm until 10:00pm at The Promenade Shops at Evergreen Walk in Rockville Park (over near L.L. Bean) If there is rain then festivities will move to Nomad's Adventure Quest on Route 5 in South Windsor, on the same date and time.

Back again this year to provide live entertainment is Locomotion. As always groups should decorate their table and awards will be given for the table which is Best Overall, Most Creative, Most Community Spirit, and Most Elegant. Table decorating is encourage! Teacher of the year Janet McEleney and Jeanne Budarz, Support Staff Employee of the Year will be honored at the event.

Check out the silent auction, 50/50 raffel, and fun "Heads or Tails" game.

The purpose of The Longest Dinner Table is to provide funds to support projects and programs for the South Windsor Public Schools, to enhance the learning experience and encourage creativity and innovation both for students and teachers at all levels and grades. The South Windsor Public Education Fund solicits gifts and grants and engages in fundraising to provide resources dedicated to benefit South Windsor public education.

Tickets for The Longest Dinner Table are $25 each, or $200 for a table of 8 and are tax deductible. For more information contact Liza Love at (860) 289-8502, or print out this invitation.

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South Windsor Homes For Sale - Guide to Buying a Home in South Windsor for the First Time Buyer

Jon Sigler Your FHA Mortgage Loan Expert (Residential Mortgages) — Wed, 09 Sep 2009 06:35:55 -0500

South Windsor Homes For Sale - Guide to Buying a Home in South Windsor for the First Time Buyer

Buying a home for the first time can seem like an overwhelming task. You're making the biggest financial decision of your life, and there are many things to consider. It helpful to understand the process from start to finish. In this article, I'll walk you through the entire process of buying a house in South Windsor so that your entire home buying experience will go more smoothly.

Step #1 - Getting Your Mortgage Pre-Approved

As we both know, lenders aren't nearly as permitting as they used to be. It's important to understand your mortgage options before you go looking at properties. You want to make sure your eyes fit your wallet.

I will want to find out about your income, money you have available to put down, what your credit is like. We will talk about what you feel comfortable spending each month on your home. Based on all of the information I collect I'll let you know what options are available to you and what the best option is to finance your first home.

Step #2 - Finding a Home You Like

There are lots of South Windsor homes for sale so the next step in the process is to find a home that appeals to you. Make sure you see several houses before you make your decision, so that you know what the options are. You may find you need just a little more house to get what you want and you may find a little less will do just find as well and save you money.

Step #3 - The Offer and Negotiation Process

Crafting a good offer is vitally important. It's important to work with a real estate agent who understands how to choose contingencies, clauses, the right amount to offer and good negotiation strategies. I'll be glad to refer you to a great real estate agent in South Windsor to help you finding South Windsor homes for sale.

Once you've made your offer, the seller will usually make a counter offer. It's rare that the seller will accept your offer up front. Once you both come to an agreement on the price and terms, the contract becomes binding.

Step #4 - Completing the Home Purchase

Once the contract has been agreed on, then you must complete the home inspection and the seller will make any necessary repairs.

Then your loan will be finalized with your loan officer. Finally, the closing is where all the documents are signed, the deed and title are signed over, the seller is paid and the keys are handed over. You are now a happy home owner!

In brief, that is what the home buying process looks like in South Windsor. Please feel free to contact me with any of your real estate or mortgage related questions and I will be more than glad to answer your questions. Call me on my cell at 860-306-8029 or email me.

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South Windsor FSBO - Real Estate Agent vs. FSBO - Should You Use an Agent to Sell Your South Windsor Property?

Jon Sigler Your FHA Mortgage Loan Expert (Residential Mortgages) — Tue, 08 Sep 2009 22:03:46 -0500

South Windsor FSBO - Real Estate Agent vs. FSBO - Should You Use an Agent to Sell Your South Windsor Property? By Jon Sigler, Real Estate Expert

Let's face it. Selling your home is probably one of the biggest financial transactions you'll ever make. Of course you want to do it right. On the other hand, you also want to walk away at the end of the day with the most money possible. Should you hire a real estate agent or should you go with a South Windsor FSBO? Let's look at both sides of coin.

On one hand, by not working with an agent you save yourself the 6% in commissions that real estate agents collect. You have complete control over the process. You get to meet all the buyers and negotiate for yourself. You decide everything for yourself.

The two most common reasons people opt for a FSBO are that they want to be in control and they don't want to pay commissions. That sounds great; but let's look at the other side of the coin.

Real estate agents have spent hundreds of hours learning how to negotiate, how to market and how to sell homes. If you're working with a good agent, chances are they have a lot of experience selling homes just like yours.

When it comes down to it, the statistics tell the real story. The statistics are quite drastic and shocking. The reality is, 88% of FSBOs will not sell and end up listed with a real estate agent anyway and South Windsor FSBO's are no different. Furthermore, sellers that work with real estate agents generally get at least 6% more on their bottom line, which includes paying out commissions.

The reality is, for most sellers working with a real estate agent will result in a faster, more profitable sell. That said, working with an agent may not be for everyone. If you truly believe you can sell the home faster and more profitably or if you must be in control of the process yourself, then perhaps a FSBO really is for you.

On the other hand, if you want to get the most money for your house in the fastest possible timeline, your best bet is probably to work with an experienced real estate agent.

There is a lot of free information available to you about buying, selling or investing in South Windsor real estate. For complete information about the South Windsor real estate market including current homes for sale, property values and South Windsor FSBO's please contact me on my cell at 860-306-8029 or email me.

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