$4,000 for your new home

It’s time to get your name stamped on $4000*

The fall home buying incentive, “Buying Into Baltimore”  is back this weekend to help you to get $4000 toward down payment and or closing cost.  All you have to do is spend a few hours learning about the home buying process while attending a workshop, visit a few homes, and go under contract within 90 days of the event before the funds are gone.  Simple right?  YES!!!!

Get an additional $1,000 by purchasing a home in one of the city’s designated area.* Home purchases can be up to $417,000 and income requirements are very fair.

Note:  The first 30 people who submit their contract and have met the programs requirement will receive the $4,000 toward down payment and or closing assistance. 

Summary: 

· Attend the event September 21, 2013

· Go on housing tour

· Take Home-ownership  Counseling workshop

· Contribute at least $1,000 of your own money

· Work with me or any licensed real estate sales person to produce a fully ratified contract within 90 days of  event

*Please visit official website for more information. 

Click here to visit Buying into Baltimore.   

        Better yet…..just ask me!        

Click my photo to search for homes

 Let's rebuild this city!

The house is just fine” REALLY!!!!

"I don’t need a home inspection." 

                                 The house looks just fine” REALLY!!!!

Remember the movie, “Money Pit?” Well guess what; they didn't get a home inspection!

Home inspections are optional but necessary. During an initial walk through of a home it may appear that things are good and in working order BUT are they really?

A home inspection is designed to evaluate a house and

provide professional opinions about its condition and structural integrity.  The inspector will evaluate and test the plumbing, electrical system, heat and air conditioning, insulation, doors, windows, appliances etc. 

Although inspectors vary in experience, ability and thoroughness the actual inspection usually lasts two to three hours.  It is recommended that you the buyer and your agent are present for the entire time.  Some inspectors will point things out their findings to the buyer as they work.  Also, any problems the inspector uncovers will make more sense if you see them in person instead of relying on snapshots within the report. 

Inspectors typically detail their findings in a report which should include pictures to support their findings.  The reports are typically delivered to the buyer and the buyer’s agent within 24 hours of the inspection being completed.

The report will typically include:

• problem identified, safety issues, major or minor defects 
• which items need  repair, service or replacement
• items that are suitable for now but should be monitored closely and budgeted for repair in the future.
• Tell you about routine maintenance that should be performed

If problems are uncovered it the perfect time for you and your agent to review and determine if you want the seller to address some or all the issues found in the report, or determine if you want to continue to move forward with the purchase of the house. Please note; the Seller is not obligated to grant any of the requests.  If you are unable to come to a consensus of repairs you may be able terminate the contract without any penalty.

Don’t fall into the traps and believe:

•   I know someone who can fix it
•   I can do it myself
•   I love with this house
•   I don't care what the problems are
•   It’s new construction and there won't be any problems.  

The bottom line:

A home inspection is an additional cost BUT, you'll be glad you did it. 

YOU JUST NEVER KNOW WHAT'S HIDDEN ! 
SO……GET THE INSPECTION!

Imagine by Danilo Rizzuti

Baltimore Home for sale less than $100K

Your keys are waiting 3435 Parklawn Ave, Baltimore, MD 21213 3435Parklawn.com Features » Quiet neighborhood » Clean home throughout » Spacious » Detached garage on site for storage or a car » well maintained Remarks Priced just right! Property ownership at its best. Owners take pride in the neighborhood. Neutral decor, ready for you to move right in. Great property for a first time home buyer or someone wishing to downsize. Garage for extra storage or a car, you decide. Enough space to stretch out. Clean and ready for its new homeowner. Schedule your appointment today Price : $ 69,900 Type : Townhouse Beds : 3 MLS : BA8128748 Contact Information Josette Fowlkes (443) 512-0090 (office) www.listwithjosette.com VIEW MY LISTINGS American Premier Realty 2021-B Emmorton Road Suite 110 Bel Air, MD 21015 443.512.0090

Keller Williams Realty, Inc. is a real estate franchise company. Each Keller Williams office is independently owned and operated. Keller Williams Realty, Inc. is an Equal Opportunity Employer and supports the Fair Housing Act. © 2013 Properties Online, Inc. (RealEstateSites.com) Content including property details, articles or opinions posed on this website have not been independently verified and cannot be guaranteed. All information offered within this website should be independently verified. Website content is provided at the reader's own risk and the reader will not hold the parties involved in creating, producing or delivering this information liable for any loss, injury, claim, liability, or damage of any kind resulting in any way from any errors in or omissions from the information. Laws and taxes vary from state to state. You should consult with your individual CPA or tax attorney when purchasing or selling real estate. By providing links to other sites Properties Online, Inc. does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to the agent, brokerage, brand or Properties Online, Inc. Equal Housing Opportunity.

FHA: Mortgage Insurance Changes now April 1, 2013

FHA has increased its annual mortgage insurance premium (MIP) for most new mortgages by 0.10%.  They have also increased premiums on jumbo mortgages of $625,500 or larger to 0.05%. 

As of April 1, 2013, FHA requires most FHA borrowers to pay annual premiums for the life of the mortgage loan.  Previously FHA would cancel the required MIP on loans when the outstanding principal balance reached 78% of the original principal balance. FHA would have remained responsible for insuring 100% of the outstanding loan balance throughout the life of the loan, regardless of the 78% threshold being reached and MIP being cancelled.

According to the FHA’s Risk Management and Regulatory Affairs office, it was estimated that they have lost billions of dollars in premium revenue on mortgages endorsed from 2010 through 2012 because of the automatic cancellation policy.  To minimize further loss, FHA will now collect MIP on unpaid principal balances for the life of the loan.  

Bottomline:  Some mortgages payments are more likely to increase.  The silver lining is that mortgage rates are low. It could all balance out.

For more on searching for your new home or to see what your home is worth contact me today!

Image courtesy of [Stuart Miles / FreeDigitalPhotos.net