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Tuesday, December 10, 2013
Distressed Arizona Homeowners May Qualify for Arizona's Short Sale Assistance Component
FHA Loan Limit Decrease is Coming
FHA
just released their updated Mortgagee Letter, starting on January 1st, 2014,
the FHA loan limit in Maricopa County for a single family residence will
decrease from the current maximum loan limit of $346,250 down to a maximum loan
limit of $271,050.
The new loan limit will apply to all FHA case numbers issued on or after 01/01/2014.
A purchase price of $280,850 will keep a buyer at 3.5% down when considering the $271,050.00 maximum loan limit.
If you are on the fence about buying a new home with an FHA loan, now is the time! Call Stacia today to get pre-qualified and find your new home.
The new loan limit will apply to all FHA case numbers issued on or after 01/01/2014.
A purchase price of $280,850 will keep a buyer at 3.5% down when considering the $271,050.00 maximum loan limit.
If you are on the fence about buying a new home with an FHA loan, now is the time! Call Stacia today to get pre-qualified and find your new home.
Sunday, December 8, 2013
Year-End Home Repairs That Pay Off
from DaveRamsey.com
The longer we live in our homes, the harder it is to see their flaws. We simply get used to the scuff marks, chipped paint and squeaky floorboards. It all adds to that lived-in feeling, right?
But during the holidays, we want to present our home in its best light, and that means taking care of some routine home maintenance. If you’re planning to put your home on the market anytime soon, those year-end maintenance projects will do double duty when it comes to attracting buyers.
When you make your list of areas that need your attention, don’t forget these easily overlooked items:
Roof and Gutters
As you put up your outdoor lights and decorations, look for any loose shingles or sagging gutters. Prospective buyers who notice them will instantly wonder about leaks and water damage on the roof. Replace the loose or missing shingles and get the gutters and downspouts back where they belong. Then clear out leaves and debris that accumulated during fall so they work properly.
Patch Before You Paint
Most homeowners know the magic a fresh coat of paint has on a home. But don’t forget that years of holiday decorations, photos and artwork will leave your walls peppered with nail holes. Always patch those holes before you paint for a more polished and professional result.
Always Underfoot
Next, take a look at your floors. Scratched, stained or discolored flooring are a distraction for prospective buyers. Even though these don’t usually indicate a problem with the home, it does suggest that you haven’t maintained your home very well. Eliminate that concern by repairing or replacing flooring before you put a for-sale sign in the yard.
While You’re Down There . . .
Don’t forget to clean up your baseboards. They take a beating from holiday traffic and everyday wear, but it doesn’t take much to get them looking fresh again. Usually soap and water will do the trick—but a new coat of paint will really set them off.
Cabinetry Takes Center Stage
During the holidays, the kitchen is celebration-central. Since your cabinets are the most dominant feature in this room, they need to look great for both Christmas company and potential buyers. Start by wiping them down to remove splatters and water marks. If they’re looking especially tired, a new paint or stain job will work wonders.
And in the Bathroom . . .
The number-one priority for the bathroom is to look and smell clean. Repair any eyesores like chipped or missing tiles. Fix leaky faucets and reseal the toilet to prevent surprise leaks.
Find Out Exactly What Your Home Needs
If you’d like professional advice about specific repairs you need to prepare your home for sale, a real estate agent with experience in your market is a great source of advice. Your agent will know what buyers in your area pay the most attention to and which things they ignore. That way you can concentrate on repairs that will truly add value to your home.
Contact me at any time for a FREE consultation! stacia.ehlen@cox.net or 602-330-3379
Friday, November 22, 2013
Credit Score 101: How is Your Credit Score Determined and How Can You Improve It?
Your credit score is based on the following five factors:
Your payment history. (35% of your score)
It shows whether you make payments on time, how often you miss payments, how many days past the due date you pay your bills and how recently payments have been missed.
How to improve it: Make all your payments on time. The higher your proportion of on-time payments, the higher your score will be. Each time you miss a payment, you risk losing points.
Amount owed on loans and credit cards. (30% of your score)
It's based on the entire amount you owe, the number and types of accounts you have, and the proportion of money owed compared to how much credit you have available.
How to improve it: Smaller balances on credit cards can raise your score0 if you pay on time. High balances and maxed out credit cards will lower your credit score. New loans with little payment history may drop your score temporarily, but loans that are closer to being paid off can increase it because they show a successful payment history.
Length of your credit history. (15% of your score)
The longer your history of making timely payments, the higher your score will be.
How to improve it: This simply takes time. It may seem wise to avoid applying for credit and carrying debt, but it can actually hurt your score if lenders have no credit history to review.
Types of accounts you have. (10% of your score)
A mix of accounts is the best.
How to improve it: If you only have one type of account, add another type when it makes sense for you. Installment loans, home loans, retail and credit cards will improve your score.
Recent credit activity. (10% of your score)
Steady credit activity is best.
How to improve it: If you've opened a lot of accounts recently, or applied to open accounts, it suggests potential financial trouble and can lower your score. However, if you've had the same loans or credit cards for a long time and pay them promptly- even after payment troubles- your score will go up over time.
Be sure to review your credit report annually. It's smart to stay on top of your credit report, and know what potential creditors are seeing. You can request a free copy of your credit report from each of three major credit reporting agencies- Equifax, Experian and Transunion- once each year at AnnualCreditReport.com or call toll-free 1-877-322-8228.
Review your credit reports carefully, as each one may contain inconsistent information or inaccuracies. If you spot an error, request a dispute form from the agency within 30 days of receiving your report.
Information taken from Wells Fargo Home Mortgage Newsletter, Fall 2013, Volume 10, Issue 4
Your payment history. (35% of your score)
It shows whether you make payments on time, how often you miss payments, how many days past the due date you pay your bills and how recently payments have been missed.
How to improve it: Make all your payments on time. The higher your proportion of on-time payments, the higher your score will be. Each time you miss a payment, you risk losing points.
Amount owed on loans and credit cards. (30% of your score)
It's based on the entire amount you owe, the number and types of accounts you have, and the proportion of money owed compared to how much credit you have available.
How to improve it: Smaller balances on credit cards can raise your score0 if you pay on time. High balances and maxed out credit cards will lower your credit score. New loans with little payment history may drop your score temporarily, but loans that are closer to being paid off can increase it because they show a successful payment history.
Length of your credit history. (15% of your score)
The longer your history of making timely payments, the higher your score will be.
How to improve it: This simply takes time. It may seem wise to avoid applying for credit and carrying debt, but it can actually hurt your score if lenders have no credit history to review.
Types of accounts you have. (10% of your score)
A mix of accounts is the best.
How to improve it: If you only have one type of account, add another type when it makes sense for you. Installment loans, home loans, retail and credit cards will improve your score.
Recent credit activity. (10% of your score)
Steady credit activity is best.
How to improve it: If you've opened a lot of accounts recently, or applied to open accounts, it suggests potential financial trouble and can lower your score. However, if you've had the same loans or credit cards for a long time and pay them promptly- even after payment troubles- your score will go up over time.
Be sure to review your credit report annually. It's smart to stay on top of your credit report, and know what potential creditors are seeing. You can request a free copy of your credit report from each of three major credit reporting agencies- Equifax, Experian and Transunion- once each year at AnnualCreditReport.com or call toll-free 1-877-322-8228.
Review your credit reports carefully, as each one may contain inconsistent information or inaccuracies. If you spot an error, request a dispute form from the agency within 30 days of receiving your report.
Information taken from Wells Fargo Home Mortgage Newsletter, Fall 2013, Volume 10, Issue 4
Thursday, November 21, 2013
Ten Things You Might Not Know About Arizona
Arizona celebrated 101 years of statehood earlier this year.
Now as we approach our 102nd birthday, AZCentral brings you 101 things you may or may not know about the Grand Canyon State.
http://www.azcentral.com/news/arizona/articles/20131105arizona-101-prog.html
Now as we approach our 102nd birthday, AZCentral brings you 101 things you may or may not know about the Grand Canyon State.
http://www.azcentral.com/news/arizona/articles/20131105arizona-101-prog.html
Monday, November 4, 2013
Apple in Arizona: More than 700 jobs coming to Valley, says Gov. Brewer
Great news for Mesa!!
By: abc15.com staff
By: abc15.com staff
MESA, AZ - Apple is coming to the Valley and will create more than 700 jobs for Arizonans, announced Gov. Jan Brewer Monday afternoon.
The newest U.S. manufacturing facility for Apple will be in Mesa near Elliot and Signal Butte roads.
"Apple is indisputably one of the world's most innovative companies and I'm thrilled to welcome them to Arizona," said Brewer.
She said it will create at least 700 quality jobs in the first year and generate significant capital investment.
It will also generate about 1,300 construction and other associated jobs.
"Apple's confidence in Arizona and its selection of Mesa as the site of its newest manufacturing facility represents an enormous win for our state and a historic investment in our community," said Sandra Watson of the Arizona Commerce Authority.
Brewer said bringing Apple to Arizona was a collaborative effort led by the Arizona Commerce Authority, chaired by Brewer, in conjunction with partners at Salt River Project, the Greater Phoenix Economic Council, the city of Mesa and Maricopa County.
The newest U.S. manufacturing facility for Apple will be in Mesa near Elliot and Signal Butte roads.
"Apple is indisputably one of the world's most innovative companies and I'm thrilled to welcome them to Arizona," said Brewer.
She said it will create at least 700 quality jobs in the first year and generate significant capital investment.
It will also generate about 1,300 construction and other associated jobs.
"Apple's confidence in Arizona and its selection of Mesa as the site of its newest manufacturing facility represents an enormous win for our state and a historic investment in our community," said Sandra Watson of the Arizona Commerce Authority.
Brewer said bringing Apple to Arizona was a collaborative effort led by the Arizona Commerce Authority, chaired by Brewer, in conjunction with partners at Salt River Project, the Greater Phoenix Economic Council, the city of Mesa and Maricopa County.
Saturday, October 26, 2013
FREE MONEY! HARP 2.0- Are YOU Eligible?
Up to $100,000 in principal forgiveness!
* Loan must be owned by Freddie Mac or Fannie Mae (sold to them by 6/1/09)
* Must be current on payments
* No late payments in last 6 months
* Max 1 late payment in months 7-12
* No FICO requirements
* Available for primary residence
* Refi available for non-owner occupied and second homes
To learn more about the program call or email me! 602-330-3379; stacia.ehlen@remax.net
Information provided by LeAnn, The Lending Lady
* Loan must be owned by Freddie Mac or Fannie Mae (sold to them by 6/1/09)
* Must be current on payments
* No late payments in last 6 months
* Max 1 late payment in months 7-12
* No FICO requirements
* Available for primary residence
* Refi available for non-owner occupied and second homes
To learn more about the program call or email me! 602-330-3379; stacia.ehlen@remax.net
Information provided by LeAnn, The Lending Lady
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