FHA 203k consultant in Fairfax to Santa Rosa

FHA 203k consultant or HomeStyle renovation consultant

Wow, we are very thankful for the volume of business we get from the local communities. This has been a very busy past few weeks... not too busy but it is fun to see an area as the local real estate market embraces the FHA 203k. 

I've always been excited when someone new understands the power of the 203k but when a community or local area gets it, it is phenomenal. Kudos t you in Marin and Sonoma Counties for getting on board and moving those "hard to sell" properties as you are. Go for it.

We have a couple that are fire burned and we'll be restoring them and one has an addition as well. Another is a home that has just grown old with the seller and had very little updating. A few walls came down to "open the living area" and create larger spaces, more visually appealing for sure.

The FHA 203k specifically names landscaping as a no-no. We aren't allowed to include landscaping, however, having said that, the fire burned home is on a hillside and by the time the fire and firemen did their thing, there isn't anything to keep the erosion from taking the home off the hillside this winter. We can provide planting for erosion control. 

There is a real steal right next door to this home in Fairfax and it would be a great time to fix it up for anyone looking in that area. The home I'm talking about is so badly damaged that you should be able to do what you want with it and make it over to your dream home. Lots of room for your creative juices to flow on this one.

What is really fun is that the REO sellers are now realizing that the 203k is all cash to seller. There was a recent event in the Roseville area where Pemco brought all five of their listing companies in for a show.. One of them actually indicated on a listing that this home does NOT qualify for FHA 203k financing. When one of our associates asked them why, they said the "work was going to exceed $35,000". 

Can you believe that? We have several that the repairs exceed $300,000 and two that exceed $400,000 but her listing doesn't qualify cause the work is over $35,000, when pinned down we found it was about $80,000 which is where most of the jobs today end up. The good thing is that they were all in one place at one time and we left there knowing they now know the "whole truth" about the 203k. 

It has been a sleeper and wil always be a sleeper and very profitable for those who use this tool. 203k basics can be an eye opening experience. Remember that the 203k can get your appraisal up to 110% of the "after improved" value. That is powerfull when it comes to saving a deal.