April 2009

Tips for Getting a Home Loan

We ran across this article about the current situation with lenders and the challenges of obtaining a home loan. The article gives a honest assesment of where the home lending situation is at, while giving great tips for meeting the tougher requirements. Let us know what you think, and please let us know how we can help you. We would love to see your goals realized.
Tips for Getting a Home Loan

9 REASONS TO BUY IN 2009

Below we have listed our ‘9 REASONS 2009 IS THE SEASON TO BUY A NEW HOME’

1. SPECIAL TAX CREDITS:

   FIRST TIME HOME BUYER’S HAVE ACCESS UP TO $8000 FEDERAL TAX CREDIT (must close escrow before December1,2009- NO PAYBACK)
   NEW HOME BUYERS HAVE ACCESS TO UP TO $10,000. STATE TAX CREDIT
   (must purchase before 2010)
   TAX DEDUCTIONS: The interest paid on your mortgage is tax deductible.

2. PRICES ARE DOWN:

   EXPERTS REPORT PRICES ARE DOWN 41% STATE WIDE.
   This means your purchase will position you for appreciation as the market recovers. Many potential buyers are under the impression that the only bargains are Foreclosures, REO’S, but in fact we are marketing new homes that represent remarkable present market value and we would love the opportunity to share our products and programs for purchasing with you.

3. IT’S A BUYER’S MARKET:

   The wise investor’s adage is,” buy when others are selling and sell when others are buying”. It is hard to say how long the various positive factors that make this a Buyer’s Market will last. But we do know some of those advantages will expire in 9 months.

4. HISTORICALLY LOW INTEREST RATES:

   Rates are actually below those of 1971.

5. RISING RENTS:

   Due to recent events in the economy experts forecast a strong demand in the residential rental market for the next 10 years. It just makes good sense to Buy a Home when your payments are at or below what your paying for rent.

6. FAMILY WEALTH BUILDING:

   While there are numerous ways to invest, basically there are two choices regarding your personal housing. Either you will build your landlord’s wealth through renting or you will build your families’ wealth through home ownership.

7. REDUCED UTILTIES:

   The homes we build today are far more energy efficient than those we built even 3 or 4 years ago. The lower your utility bills are the more cash in your pocket each month. That’s the bottom line.

8. NEW HOME CONFIDENCE:

   Purchasing a new home takes the mystery regarding the condition of the home out of the process. REO’s and FORECLOSURE’s can be exempt from disclosures and inspections of condition. Especially if the Lender is in possession of the property since they aren’t in a position to know or verify the condition of the home. Of course the additional expenses related to any necessary repairs or deferred maintenance should be considered as well.

9. OPPORTUNITY / TIMING:

   This is one thing we have learned after four generations in the Building and Real Estate Industry. Basically we either recognize opportunity when it’s presented or we recognize when we have missed it. We understand each families financial picture is unique.

We are here to assist you.

We appreciate the opportunity to provide you with this home buying information. We want your business and we would appreciate hearing from you to discuss your plans, for BUYING, SELLING, DESIGNING AND BUILDING REAL ESTATE IN THE NORTH STATE.

9 REASONS NOT TO BUY IN 2009

Below we have listed our ‘9 REASONS 2009 IS THE SEASON NOT TO BUY A NEW HOME’

1. OWNING A HOME IS NOT FOR EVERYONE:

   For some it is a lifestyle decision for others it is a matter of timing. Only you can truly make the final decision. Whether you decide to purchase or continue to rent we trust that the information we have provide will assist you in evaluating the pros and cons of home ownership. Please check our 9-reasons to Buy in 2009 / 9 REASONS 2009 IS THE SEASON TO BUY A NEW HOME as well and feel free to contact us for further assistance. We look forward to doing business with you.

2. RENTING MAY BE CHEAPER:

   Owning your home has financial advantages, equity build up and tax benefits and potential appreciation in value. You will want to consider your financial picture, where you plan to live and your overall goals.

3. HOME PRICES COULD GO LOWER:

   It will be obvious when the bottom of the housing market is reached. It’s when prices rise and unsold inventory shrinks, but going forward, this is difficult to say with certainty. Unfortunately some lose sight of the primary utility value of home ownership. It’s where we live. Buying a home is the largest purchase most families will make. It’s said that successful stock market investors buy for the long term. They invest because the fundamentals are sound. They don’t attempt to buy at the absolute bottom or sell at the absolute top. There’s probably some wisdom to be had there.

4. LACK OF FINANCIAL RESERVES:

   It’s a good idea to do some contingency planning for unexpected emergencies. Whether it be a home repair saving account, Home Repair Insurance Policy, or at least a line of credit should the need arise.

5. HOME UPKEEP:

   All homes require maintenance. Preventative maintenance is generally the least expensive form and then there are repairs. Granted buying a new home requires far less work than an older home (at least for the first 3 to 5 years) but all homes require some upkeep.

6. ARE YOU READY TO SETTLE DOWN:

   Owning a home has advantages, but mobility is not one of them. While this is similar to following reason this one is more of a lifestyle reason.

7. YOU MAY BE MOVING:

   Buying a home requires being settled to reap the rewards. If a move for family or employment reasons seems possible you may want to wait until you relocate to buy.

8. HEAVY DEBT/BUDGET ISSUES:

   If high credit card payments and other consumer debt is a current problem it might be time to work up a budget and do some goal setting. Once the financial house is in order then buy your home.

9. EMPLOYMENT PICTURE:

   Unemployment is up in many areas of the country. This can be a challenge to evaluate, but you want to consider your employment situation. At the same time be realistic. You don’t want to put off taking advantage of the home ownership opportunities because of a financial crisis that is not affecting you.

Whether you are looking to rent to own with a lease option or are looking for a house to buy, we are here to assist you.

We appreciate the opportunity to provide you with this home buying information. We want your business and we would appreciate hearing from you to discuss your plans, for BUYING, SELLING, DESIGNING AND BUILDING REAL ESTATE IN THE NORTH STATE.