Top 10 Smartest Cities to Buy a Home

Top 10 Smartest Cities to Buy a Home

Everyone wants to obtain the American Dream by starting a family and owing a home.  Of course, you have to take into consideration the spread between what you would spend on renting a place and what you would pay for a mortgage.   The premium to buy is much lower than the 15 year average in [...]

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FHA Waives 90 Day Flipping Rule

FHA Waives 90 Day Flipping Rule

HUD Secretary Shaun Donovan announced a temporary policy that will expand access to FHA mortgage insurance and allow for the quick resale of foreclosed properties.  In an effort to speed the resale of foreclosed properties to new owners, HUD has decided to waive the 90 day flipping rule.  They are hoping that this will bring [...]

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Donate to Haiti Via Text Message

Donate to Haiti Via Text Message

By sending a text message with the word “Haiti” to the number 90999 a donation of $10 will be made to the Haiti relief effort.  This charge will appear on your mobile phone bill.  You can also text “Yele” to 501501 to donate $5 to the Yele Haiti Earthquake Fund.
Donations to aid Haiti have exceeded [...]

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Happy New Year!

Happy New Year!

Wishing all of you a very Happy New Year 2010 with great success.

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Interest Rates Predicted to Rise in 2010

Interest Rates Predicted to Rise in 2010

Along with just about everything else like food prices, energy prices, and taxes, interest rates are predicted to rise to 6% by end of 2010.  The end of the Federal Reserve program that buys mortgage-backed securities will drive rates higher because the private buyers will demand more return than the Fed.
It’s funny because those who [...]

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Merry Christmas!

Merry Christmas!

Merry Christmas Everyone!  May you have a blessed holiday and our best wishes for 2010!

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Exterior Remodeling: The Best Bang for Your Buck

Exterior Remodeling: The Best Bang for Your Buck

Despite the so called “slow market” in 2009 for Northern Virginia and slight decrease in remodeling projects, some of the smartest improvements are the least expensive.  Small scale exterior projects are the most beneficial and profitable at resale according to recent surveys.
On a national level, 8 out 10 projects in terms of costs recouped were [...]

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Foreclosures: Not for the Faint Heart

Foreclosures: Not for the Faint Heart

I’ll be completely honest with you.  Foreclosures aren’t always the best deal in town.  They often are not in move-in condition and the bank addendum is very scary for first-time homebuyers.  You are purchasing the home in “as-is” condition so the bank has to cover themselves from you coming after them if someone is wrong [...]

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2009 Profile for Buyers and Sellers

2009 Profile for Buyers and Sellers

NAR recently released the 2009 profile for buyers and sellers.  The results were compiled from over 9,000 surveys from people who purchased a home between June 2008 to July 2009.  Below you will find some of the highlights from the report.

47% of all buyers were first time buyers.
62% of first time buyers reported [...]

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Fannie Mae Changes

Fannie Mae Changes

(This does not affect FHA or VA)
Fannie Mae is changing (for the worse) their underwriting guidelines for conventional loans this weekend.  In order to be eligible for the current guidelines, borrowers need to have their loan, with a specific property, approved by Friday night.  These changes will be implemented over the weekend.  Below is a summary of some of [...]

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Cash for Caulking

Cash for Caulking

President Obama proposed a program that would reimburse  homeowners for installing energy-efficient appliances, windows, and insulation.  Under the so called “Cash for Caulking” program, homeowners would get a 50% rebate on items like energy efficient air conditioners, heating systems, washing machines and dryers, refrigerators, replacement windows, and insulation up to $12,000.  There will likely be [...]

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US Treasury Steps in to Support Short Sales

US Treasury Steps in to Support Short Sales

Alright Ladies and Gentlemen!  It is okay to swallow your pride and reach out to a real estate professional in regards to your upside down mortgage.  We all realize the troubling times and the interest only ARM loans that you got 5 years ago.  There is no shame and no one is going to point [...]

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FHA Key to Housing Market and Recovery

FHA Key to Housing Market and Recovery

The Federal Housing Administration mortgage insurance program is a critical part of the American housing fabric and has never been more important than it is in today’s market, NAR President Vicki Cox Golder told a congressional panel this week.
Testifying before the House Committee on Financial Services, Golder said that the FHA program is fiscally sound [...]

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Take Advantage of the Tax Credit Extension

Take Advantage of the Tax Credit Extension

Typically, around this time of year the cold air, cozy fireplaces, decorating of the tree, and gift giving slows down buyers home searches.  This winter, however, may be different because of the first-time homebuyer tax credit extension.  The traffic at www.PortfolioRS.com surged on November 5th when Congress approved the tax credit extension.  Those buyers out [...]

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Tips for Getting Those Foreclosure Deals

Tips for Getting Those Foreclosure Deals

When you’re not careful, buying a REO or Short Sale can drain your bank account.  REO or bank owned properties can have major complications without inspections and short sales can take forever to close, wasting your time.  Be smart if you’re looking to buy a foreclosure.
Here are some tips to get the best deal:

When you’re [...]

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Happy Thanksgiving!

Happy Thanksgiving!

May you all have a blessed day and enjoy the company of family and friends!

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Tips to Buying a Foreclosure

Tips to Buying a Foreclosure

By now you’ve probably heard here and there that someone you know has purchased a foreclosure at a great price.  As we come to a close of 2009, there isn’t much inventory to choose from like there was 6 months ago.  The first-time homebuyer tax credit has been extended and there are more buyers searching [...]

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Underwater Mortgages

Underwater Mortgages

According to a report by First American CoreLogic, more than 23% of people with mortgages owe more on their property than what they’re worth.  Another 2.3 million homeowners are within 5% of being underwater.  What does this mean?  It means that those homeowners will have to stay in their homes for a long time until [...]

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Tips to Improving Your Credit Score

Tips to Improving Your Credit Score

Whether you are looking to improve an already good credit score or you have a short sale or foreclosure on your record, it’s never too late to improve your credit score.  The interest rates are at a record low, but you need to have great credit to even qualify.
Here are some tips to improve your [...]

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