For those lucky enough to have taken advantage of the current Fannie Mae Homepath special great job. Now for those home buyers still out there waiting for a better deal or for rates to drop it is time to get off the fence. Fannie Mae is currently offering up to 3.5% towards the buyers closing costs on their Homepath properties. This money can be yours whether you are using the Fannie Mae Homepath loan, FHA loan or even a USDA loan to buy a Fannie Mae Homepath property.
The current Fannie Mae Homepath special offer ends on October 31, 2011. This means that you must close on the purchase of the Fannie Mae Homepath loan no later than October 31, 2011. No there are some other conditions that you will want to be aware of in order to take advantage of the Homepath special offer.
You must be purchasing the home to occupy as your primary residence, 2nd homes and investment are not included in the special offer.
If your closing costs are less than the 3.5% incentive offer you will not receive the difference as a credit.
The agent must request the incentive with the submission of the initial offer.
There numerous properties available for purchase through the Fannie Mae Homepath program in Illinois. Many of the Homepath properties are in great shape and ready to move in. To search for Illinois Homepath properties visit the Fannie Mae Homepath site at www.homepath.com. If you are interested in finding out more about the Fannie Mae Homepath mortgage then please give me a call at 815-899-3848 or visit me at www.mortgagebyroy.com.
This is just a quick reminder to everyone that the Fannie Mae Homepath home closing cost incentive will run out at the end of June. Currently the buyer can receive up to 3.5% towards closing costs when buying a Fannie Mae Homepath home as long as they close by June 30, 2011. Let's face this is a pretty significant incentive for buyers looking at Fannie Mae Homepath homes or for that matter any homes.
For example, if you are looking to purchase a $200,000 home this would allow you to get up to $7000 towards closing costs. That is $7000 that you the buyer can keep in your pocket and use towards items in your new home.
If you are unsure what a Fannie Mae Homepath home is here is a quick rundown on Fannie Mae Homepath homes as well as the Homepath mortgage. Fannie Mae Homepath homes are basically Fannie Mae foreclosures. These Homepath homes can be found by going to www.homepath.com. These homes can range from the $30,000 fixer upper to the $400,000 move in ready dream home.
The Homepath loan program is available only on Fannie Mae Homepath homes. This loan program requires a minimum of a 3% down payment. The great part about the Homepath mortgage is that there is no monthly PMI like other loan programs and there is no upfront mortgage insurance like there is on FHA loans. One final point about the Homepath mortgage program is that there is no appraisal required. This can be great for someone looking at a fixer upper as no repairs will be required prior to closing.
So if you are in the market for a new home you really owe it to yourself to take a look at the Fannie Mae Homepath homes even after this incentive expires. If you have questions regarding Fannie Mae Homepath homes or the Homepath mortgage program feel free to call me at 815-899-3848.
Roy E. Paeth
NMLS 225032 Mortgage Planner Open Mortgage
1210 E. State Street, Suite 8 Sycamore, IL 60178 815-899-3848 815-230-1390 Fax
Nettle Creek Morris Illinois Homes For Sale: 5405 Crescent Green Court Morris, IL 60450 - Never run out of living space! Inspired by Frank Lloyd Wright, this home is prestigious from top to bottom. Nestled on a cul-de-sac in prestigious Nettle Creek Golf Community. Garage space galore for all your hobbies. Professionally landscaped, custom throughout -- truly something you will want to see!
Never run out of living space! Inspired by Frank Lloyd Wright, this home is prestigious from top to bottom. Nestled on a cul-de-sac in prestigious nettle creek golf community. Garage space galore for all your hobbies. Professionally landscaped, custom throughout -- truly something you will want to see!
Equal Housing Opportunity.
Remax Top Properties :
534 Bedford St., Unit C -
Morris
IL
60450
: 708-408-0707
For more information about Morris, Illinois homes for sale call Colleen Michalowski at 708-408-0707
Three ways to boost your real estate print ad response because let's face it everywhere you look there are reports that print advertising is way down. Some say that print advertising is dead, slain by online advertising. Pickup any of the Real Estate magazines such as Homes and Land and you will see the books are half the size they once were.
When I ask real estate agents I meet with if they do any print advertising the common answer I get is that print advertising just does not work anymore. Those who do still advertise in print say that the response they get from their ads is way down. One agent I spoke with said that he still uses the print ads to "keep his name out there." Now I do not know about you but my marketing budget does not have any room for wasted dollars that do not provide a measurable return.
These days the online alternative like Google Adwords, Facebook, Twitter, LinkedIn and so many other sites who needs print advertising? For those of you who are still using Real Estate magazines or newspapers to advertise your listings here are three ways that you can boost your Real Estate print ad response.
Setup an individual property website for prospective buyers to get more information, photos, virtual tours etc..
Add Google analytics to your individual property website so that you can track where your traffic is coming from.
Setup and advertise a text code for each of your properties so that prospective buyers can text to find out more about your listing.
One tool I offer the agents that I work with is a single property website option for all of their listings. The benefit is that this property site has it's own domain such as www.midvaledrive.canbyours.com which can be listed in your ad. We can then add Google analytics to your property site to track how much traffic the website gets along with where the traffic is coming from. This individual property site will also allow you track the total number of hits your site gets as well as what pages the the visitors are clicking on.
Finally allowing people to text for more information is kinda like the old 800 number call capture. Heck everyone is texting these days so it is time to embrace this technology. If a potential buyer texts for info you automatically get notification via email and text. The benefit is that you now have the potential buyers phone number to follow up with.
These ideas may not be for everyone an I definitely understand that. I can tell you in my market these three ideas have definitely made a difference. The best part of all is that implementing these ideas will cost you little or nothing so what have you go to lose. If you would like to know more about these three way to boost your real estate print ad response feel free to email, call or just leave you question in the comments.
Roy E. Paeth NMLS #225032 Open Mortgage LLC#2975 Email: roypaeth@openmtg.com Phone: 815-899-3848
Top 5 Reasons to Love the Homepath Mortgage in Illinois
Okay so a couple weeks ago I was meeting with a new agent who I just started working with and he asked me, "Roy, why are you so excited by the Homepath Mortgage?" I sat back and started listing of different things I liked about the Homepath Mortgage. After my meeting I thought what a great idea for an Activerain blog post. So without further adieu here are the "Top 5 Reasons to Love the Homepath Mortgage in Illinois".
The loan process is quick and typically you can close within 10 days.
No appraisal is needed. No more HVCC issues or lag time.
No repairs required- no delays or renegotiation due to repairs required by the appraiser or the underwriter.
The sales price of the property is not limited by the appraised value which is great if there is a lack of comps.
The asset managers would rather take a Homepath mortgage offer over an FHA, USDA or Conventional mortgage.
So let's expand on a couple of the points. Reason number three can be huge because these homes are foreclosures and may not be in perfect shape. If an appraisal is done there could be items that need to be repaired thus delaying the closing and possibly killing the deal. Reason number five can be huge. Lets say an asset manager has three different offers for the same home one with a Homepath mortgage, one with an FHA mortgage and one with a normal conventional mortgage. If the amounts offered are the same which mortgage program would seem the most enticing to the asset manager, the two that will require an appraisal or the one with no appraisal required? I have been told, off the record that the Homepath mortgage is preferred by the asset manager which does make sense. So there you have it the "Top 5 Reasons to Love the Homepath Mortgage in Illinois." There are quite a few other benefits of the Homepath mortgage as well as Homepath homes but the above reasons are just my favorites.
Immaculate 2373 sq. ft. home. Open entry, hardwoods and ceramic tile. Brick fireplace, master suite with whirlpool tub and walk in closet. Partial exposure and partially finished lower level. New 20x20 deck. Professionally landscaped.
Equal Housing Opportunity.
Remax Key :
5411 East State Street -
Rockford
IL
61108
: 815-509-3224
Whether you are an first time home buyer or a move up home buyer in Illinois you really should take a look at the Fannie Mae Hompath homes. The Fannie Mae Homepath mortgage is useable only on Fannie Mae Homepath homes which are Fannie Mae forclosures. Why is the Homepath mortgage program so good you ask? Here are a few reasons.
No appraisal is required
There is no upfront mortgage insurance like there is with an FHA mortgage
The minimum down payment required is 3%
There is no monthly mortgage insurance
The no appraisal requirement is a great way for Illinois home buyers to purchase a home that may need a little work. With an FHA or Conventional loan the appraiser will make a note of repairs that are need and in most cases these repairs will need to be done prior to closing. One other benefit of not requiring an appraisal is that you are able to close on much quicker.
Not having upfront or monthly mortage insurance is a great savings to homebuyers. Recently the monthly mortgage insurance on an FHA loan has almost doubled. By not having to pay monthly mortgage insurance the home buyer can afford more home.
Other than a VA or USDA loan the Homepath mortgage has the lowest down payment requirement out there. The minimum down payment on an FHA loan is 3.5% so the Homepath mortgage saves the home buyer money that they can use toward items in their new home.
Many people may think that these Homepath homes are in bad shape but many of the homes are newer and are in great shape. To lookup Homepath homes in your area go to www.homepath.com. If you have additional questions regarding the Homepath mortgage feel free to contact me at 815-899-3848.
How would you like to be able to generate a YouTube video for all of your listings at the click of a button?
Oh wait did I mention this is free?
As some of you already know I offer individual property websites to the Real Estate agents that I work with. These property site are so much more than a individual website as those who work with me already know. Nightly publishing to multiple sites, EASY Craigslist posting and free virtual tours are just the tip of the iceberg for what these individual property sites offer.
Check out the link below to see an example of the YouTube video option.
For more information on how you can get these great individual property sites for your listings contact me at:
The hit report can be your friend. Have you ever had to tell a client that you think they should lower the price on their home? Of course you have at one point or another. I am not a Realtor but I imagine this can be a tricky conversation to have. Going in to your meeting armed with our hit report can help provide you some additional ammo to backup your request.
The above report is a sample report that can be generated by the individual property report I offer to the real estate agents I work with. The nice think about this report is it helps to paint a picture of how many people have looked at the site, which pages they have clicked on, what sites have referred the traffic and how many times the Craigslist posting has been viewed. Now when you combine this with the Google Analytics you can add another level of detail such as what days people have visited the website.
Do you think this report could be used on a listing appointment to show your potential client how you are going to market their home as well as track how your marketing is working? If you are interested in finding out more about the hit report as well as the many other things this individual property website can do for your clients then drop me an email or give me a call.
Many of you remember or still use the 800# call capture system for your properties. This system involved setting up an 800# for your listing so that potential buyers could call to get find out more information without actually talking with a live person. This was a less threatening way for buyers since they were not worried about having to talk with someone directly.
1-800-BUYNOW1
Call capture also allowed a potential buyer to get information 24 hours a day 365 days a year. Once the potential buyer called typically the Realtor would receive and email letting them know that someone had called about one of their properties. The Realtor would then place a follow up call to see if there were any questions the potential buyer had. This was a good time for the Realtor to build rapport and potentially gain a client. Ideally the buyer was interested in the home. If the home did not fit the buyers needs/wants then there was an opportunity for the Realtor to help the potential buyer find a home that did fit their needs.
OKAY SO GET TO THE POINT!!!!
As you know these days we are in the text generation. Everyone seems to be texting all the time. It seems that their is no age limit on who is texting. Just the other day I had someone pass me on I88 and I could have sworn they were texting. Heck with today's new phones you never need to leave the house since you can call, text and surf the internet. So the question is how to take advantage of this technology with your real estate listings?Enter a great solution that I offer to all of my Realtor partners. Instead of putting a sign that just has a phone number how about a sign that says
Now rather than calling the potential buyer can text for more information. They will then receive a text back that gives them basic information about the listing, a hot key for them to call you
and a link to a mobile phone site (for those that have web enabled phones) that will give them more detailed info about the property.
The potential buyer will also be able to view all of the pictures you have uploaded to the individual property website.
If the borrower has a smart phone they can also go directly to the property website. The best part of is that your will receive notification that someone has texted about one of your properties which will hopefully lead to sold home or a new client that needs a home. So this nifty little system is like call capture on steroids. Your next question is probably how much does this cost? To find out how to get access to this system along with many tools to market your property for free drop me a quick email roypaeth@openmtg.com or give me a call at 815-899-3848.
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.
Home
;)
;)
;)
