Phoenix Bank Owned, Fannie Mae properties roll out HomePath Buyer Incentives

Fannie Mae Rolls Out HomePath Buyer Incentives

Fantastic HomePath buyer incentives for eligible Fannie Mae home buyers has just rolled out for the summer.  The quick summary: if all conditions are met, owner occupant buyers can receive closing cost assistance of up to 3.5% of the final sales price from Fannie Mae with the latest HomePath buyer incentives.

HomePath Buyer Incentives Help HomePath Property Buyers Pay for Closing Costs

The HomePath buyer incentives will provide HomePath property buyers the ability to spend some of that hard-earned cash on decorating, fixing their place up or just bank it for future needs instead of on their closing costs.  You can search for Fannie Mae homes at www.HomePath.com or you can search the MLS here for available HomePath properties.  I’ve included a recent article from RIS Media about the HomePath buyer incentives below…

HomePath Buyer Incentives

Fannie Mae Expands HomePath Buyer Incentives

RISMEDIA, Thursday, June 16, 2011 Fannie Mae (FNMA/OTC) announced the expansion of incentives to encourage sales of HomePath REO properties to owner occupants. Now through October 31, qualified buyers and selling agents can receive financial incentives on sales of HomePath properties, which can be found at www.homepath.com. The incentives are part of Fannie Mae’s commitment to neighborhood stabilization, and are available on sales to buyers who will reside in the home as their primary residence.

Supporting homeownership and stabilizing neighborhoods are critical to helping the housing market recover, saya Ed Neill, Senior Vice President for Credit Loss Management at Fannie Mae. Our previous incentives have been effective in securing owner occupants for these properties. By encouraging homebuyers who will make these properties their long-term home, these expanded incentives will help to stabilize communities.

The expanded incentives offer qualified homebuyers up to 3.5 percent of the final sales price to put towards closing costs. The incentive must be requested in the initial offer. Eligible initial offers must be submitted after June 14, 2011 and must close by October 31, 2011. Investor sales are not eligible for the incentive.

HomePath properties offer buyers a wide selection of options, including single-family homes, condominiums, and town houses. HomePath properties may also be eligible for HomePath Mortgage and HomePath Renovation Mortgage financing, which offers homebuyers an opportunity to purchase with as little as 3 percent down.

In addition to the HomePath buyer incentives, a $1,200 bonus is available for selling agents in eligible transactions.  The HomePath buyer incentives bonus is available if the initial offer is submitted on or after June 14, 2011 and the sale is closed by Oct. 31, 2011.

The stars are in alignment – HomePath buyer incentives are available  AND rates and prices are down – a perfect opportunity to pick up an outstanding value and the perfect home.  So get out there and find yourself a great HomePath property.

Homepath Buyer Incentives Terms and Conditions

  • Buyers and/or selling agents (the agent representing the buyer) must request the HomePath buyer incentive upon submission of initial offer.
  • Initial HomePath Buyer Incentive offer must be submitted on or after June 14, 2011 and close by October 31, 2011. Initial offers made prior to June 14 are not eligible for the June 14 – October 31 incentive.
  • Sale must close on or before October 31, 2011. No exceptions will be made to this deadline. (Note: Initial offers submitted after September 15, 2011 may not close by the incentive deadline of October 31, 2011.)
  • Buyers must be purchasing a HomePath property to use as their primary residence to receive closing cost assistance. Second homes and investment properties are excluded from the incentive.
  • Sales closed via the retail channel are eligible, including those utilizing public funds. Pool and auction sales are ineligible.
  • Buyers must sign the Owner Occupant Certification Rider to the Real Estate Purchase Addendum.
  • Buyers with total closing costs under 3.5% are not eligible to receive the difference as a credit.
  • Properties where Fannie Mae acquired the property in connection with financing under a reverse mortgage are not eligible. Ask the listing agent for details.
  • Buyers should consult their lenders for guidance on financing. Lenders and mortgage products may impose their own limitations on the use of the 3.5% incentive. For example, the lender may consider the incentive a Seller Contribution and limit the amount to 3.0%. In those instances, the remaining 0.5% will no longer be available to the buyer.
  • Fannie Mae reserves the right to remove any property from promotion or end the promotion at any time. Any dispute over the payment of the incentive shall be resolved by Fannie Mae in its sole discretion.

NOTE: this incentive will be identified on the purchase contract, and must close by October 31, 2011 to receive the incentive from Fannie Mae.

If you’re in the market for a great home, I’d encourage you to utilize one of our HomeStyle Team buyer agents who are well versed in the HomePath Buyer incentives and specialize in HomePath properties.

Best Methods To Invest In Property

So you have some money you want to invest and do not know where to invest it. You should invest in property or at least give it some thought. There are a variety of properties that you are able to purchase and earn profit from.

One of the most popular and affordable type of property to invest in is a single family home. With this type of property you can buy it for the sole purpose of improving it and reselling it for a higher value than what you purchased it for. You can also lease it out and obtain an extra source of income each month you have a tenant living there.

Another form of investment is multi family homes. With this type of property you can have several tenants all living in one building. Apartments, townhouses, and duplex fall under the multi family home category. You are able to have a source of income even when one tenant moves out, since you still have other tenants living in the other units.

Vacation homes or condos are also a great investment. These type of properties can be leased out on a daily, weekly or even monthly basis. A one week leasing fee for a vacation home is usually the same or even more than what renting a single family home for a month would be.

Commercial property might be a bit more expensive but can also be profitable. When you purchase a commercial land you can build a plaza of commercial offices or spaces. Businesses that are just starting out and do not have all the necessary funds to start their business with, can rent your office space.

Land is a different type of property investment that can produce profits. This type of investment will not begin to produce profits as quickly as the others would. Many people who purchase extra land see this as a savings account. Land can go up in value, especially once other buildings have been built in its surrounding. You can later resell the land at a much higher price than you originally paid for.

When you are thinking about investing then real estate could be one way to go. If you invest in property you can begin to start earning great profits. Depending on the type of property you purchase, you can earn profit daily, weekly or even monthly.

Searching all over the web for fab Overseas Property Investment opportunities? Get the low down now in our How to Invest in Property overview.

Factors To Consider When Embarking On International Property Investment

While thinking about international property investment, you should focus on all those factors and aspects which may influence it. First of all, you should go with the International Property investment that has the caliber to give you an excellent and profitable return. Secondly, your policy should also reflect the political aspects in order to ensure that your investment will be durable. Hence the location is one of the most influential factors which would decide the longevity and sustainability of your investment.

With the economic turmoil that many countries have faced in the recent period, many countries might not qualify as the best property investment destinations. So what should one look out for when choosing the best place?

First it is good to check the average growth forecasts for the intended country. Such forecasts should cover extended periods such as the next ten or so years. Such countries usually have high GDPs. You should also check the industries fueling such growth. For instance a country with a strong tourism industry means there will be a huge influx of people who would require high quality accommodation for their holidays. This provides a great market for the property.

In Europe there are certain countries which form great investment destinations. A good example is countries that have recently joined the European Union. This means that members of the EU countries and private investors have invested billions of dollars in the country. This in turn leaves disposable incomes at very high levels. This means that the local population also has a higher demand for quality housing which sometimes exceeds supply. If you choose such countries, you can be assured of great returns from your investment.

It is also important to note that investment opportunities do also play an influential role in determining the sustainability of an investment policy. For instance, you may find the growth rate confined to a particular area in some countries. Thus it would be better to choose a country on the basis of the job opportunities it is offering. It would also help you to ensure the sustainability and profitability of your investment.

Another critical factor on which the survival of your business depends is the buying patterns of that particular area. You can expect good returns from your investment if the property is fairly priced and has good upside potential. Apart from this, you would also get many other benefits.

Such procedure should be adopted which secures and benefits both buyer and the seller. If possible, an option regarding to the security of both buyer and the seller should be imposed. At last, one should remember that good property has no alternative. If you are not an expert in this area, then it might be difficult for you to consider all these aspects. Thus you should seek the help of an expert in order to know that the investment you are going to own will survive or not.

Nowadays, there are many companies all over the world which could assist you in this International Property Investment. These companies not only tell you the tactics for operating an investment but also tell you the conditions in which your investment will gain the optimum results. Finally the best and preferable place cannot substitute the best property. This means you have to find the best mixture of these two factors. If you consider all of these factors it might prove too complex. To overcome this, you need to get the help of specialists in that area.

When you want to expand your investment portfolio, the present is a smart time to invest in property. Because of the world housing market, international property investment can be a way to earn capital growth and income as well.

Simple Reasons To Invest In Property Rentals But Not Take On The Role Of Landlord

When you invest in property rentals that are multi-family dwellings AND you choose to accept the role of “landlord”, you are taking on a lot more than the mere chance your investment may prove to be financially fatal. You are also accepting the problems of the tenants who rent your dwelling – problems which can lead to extreme headaches, to say the least.

Although the list of complaints renters are famous for making goes on and on, here is just brief summary of a few of the most common of them that might require you to step up as “referee”, in addition to your normal role of “investor”:

Renters who can’t stand each other is a sad, but common enough problem – it just is what it is. And when you put on the hat of landlord after being used to donning the comfortable little hat of “investor” you may be shocked at the things you will be expected to deal with regarding those “adult” renters who act worse than two year old children when it comes to dealing with each other.

This is not to say there aren’t valid reasons for a tenant to voice concerns over certain actions or behaviors of another, however, many issues brought to a landlord’s attention, that a renter expects dealt with immediately are the very definition of the word “ridiculous”.

So, if this turns out to be your situation with your new tenants, don’t be surprised to get phone calls in the middle of the night by one of them bending your ear about the other’s “latest” outrageously hostile act.

You may hear about “sins” committed that you weren’t aware were actual sins – like how the tenant to the left always gives the renter to the right “dirty looks” whenever they happen to meet, or how the second renter’s little dog always poops on the that first renter’s prize rosebush every morning at 5 A. M without fail!

Moreover, don’t think you will get to escape hearing a few complaints regarding the unit itself – even if it’s the SAME unit the complainant just signed off on after his inspection the day before, when he moved in. A landlord has to remember that each new day can bring ANYTHING when it comes to tenant satisfaction, or lack thereof.

And the complaints may be ridiculous as well. Aside from the fact that safety issue complaints are acceptable and encouraged from the tenants, you might find yourself treated to whining about a “minuscule” crack in the plaster above a door knob, or a sudden dislike of the carpet in the bedroom.

So when you decide to invest in property rentals, remember to think carefully before taking on the role of landlord. It’s not a job that most people handle that well, but if you think you can do it, at least you will have been warned ahead of time.

If you choose to invest in property, it expands your investment portfolio. The opportunity for overseas property investment has never been more profitable.

Everyone Should Invest In Property

With the real estate market in the state it is currently in, many people would never invest in property, at least not right now. The truth is that these people are missing out on the potential for huge profits once the market fully recovers. There is money to be made, and a select group of people will make lots of it by investing in property of all sorts. Even though the economy is down and the real estate bubble has burst, there are still great opportunities for those willing to take advantage.

There are many types of property that one might consider investing in. Once such type is commercial property. There are prime locations that are now sitting abandoned or empty as businesses that used to be there have closed their doors. These excellent pieces of real estate will eventually be sought after again when the economy picks up steam. The holder of these properties could stand to make a lot of money.

Rental properties are also another way to invest. Many people are losing their homes due to foreclosure and others due to job relocation or other factors. These reasons along with many others make rental properties a solid investment going forward. In lots of cases, people are choosing to rent rather than to buy as they wait out the economic downturn.

Another great way to invest in property is through foreclosures. Many homes in many markets are now priced at nearly half of what they were just a few years ago. When obtained, they can then be rented until the real estate market makes it comeback and prices go back up to at or close to where they were a few years ago before the economy crashed.

The market for new home construction is down with the economy, and this means there are wonderful deals available on undeveloped property. Once the economy recovers people will start buying homes again, so construction will increase and the value of this undeveloped property could likely rise as well.

Purchasing any of these types of property and holding it for a few years will likely result in substantial gains. The economy will recover eventually, as will the housing market, and those who invested at the low point will stand to reap great rewards. There is truly no better time that right now to get in on the game.

So for those looking for a way to make real money over the long haul, investing could be the way to go. Invest in property now and you could very well be sitting on a gold mine in just a few years.

Get complete information and details on how quickly you can invest in property that is unique! When you make an overseas property investment, you can build your dream home affordably in a fabulous exotic location!

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