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

June 25, 2011 By

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.

Filed Under: Chandler Homes, Credit, First Time Home Buyers, Gilbert Homes, Mesa homes for sale, Mesa real estate, Phoenix Bank Owned, Phoenix Housing Market, Primary Feature, Search Arizona Foreclosures, Tempe Homes Tagged With: , , , , , , , , , , , , , , , , , , , , , , ,

Enjoy A Renovated Home And Its Increased Value

September 23, 2010 By

After a prolonged use, when the walls of your home show cracks, roofs begin leaking or the paint starts coming off, it’s time to realise the immediate need for renovation. There are some important aspects to the renovation of a house that need to be focused on to ensure that everything turns out as expected.

What needs to be altered and what requires to be mended is the first thing that you must think of. For instance, a growing family needs extra living space, so the house may have to be expanded for the reason, or an open space may have to be used for making a car garage. And, in case you find your kitchen too grimy or congested, you may desire to spruce it up with new cabinets or chimneys to make it more spacious and better ventilated.

Along with the remodeling of the house, you can also carry out repair and replacement of some old, outdated electrical appliances, and kitchenware to give your house an overall fresh look. A home that has been completely renovated after meticulous planning gives an enjoyable living experience to the residents.

Some people also renovate their home to make it more appealing to prospective buyers and therefore increasing its worth in the market. They spend lavishly on the renovation of their house in the hope of roping in a huge profit on its resale. However, there is a hidden danger in it, as the plan may backfire if the expenditure of renovation ends up exceeding the added value of the property. on renovation and interior design must be made in close discussion with specialists in this area.

come before any renovation activity as you would want to make sure that you are allocating your funds proportionately to different parts of the house. Some extra expense beyond what the contractor has calculated might be required during renovation, and the budget has to be prepared while keeping this emergency requirement in mind.

If the total expenditure seems too high then you can even look at using a home renovation loan. Many renovation loan plans with provisions for easy repayment are available for prospective loan seekers.

Whether you want to relish comfortable living or to harvest the advantages of a profitable property sale, home renovation and interior design always works. But don’t rush into it, consider it patiently and if it.

Discover more about interior design and uncover how does property renovation increase the net worth of your property fast. This article, Enjoy A Renovated Home And Its Increased Value is available for free reprint.

Filed Under: Investing, Related News, Remodeling and Renovation Tagged With: , , , , , , , , , , , ,

Suggestions On Renovating Your Bathroom

September 21, 2010 By

Remodelling the bathroom requires a great deal of planning and it is essential to do it right. You spend a sizable part of your time in the bathroom, thus the ambiance of the bathroom should be such that you feel comfortable and are able to use all the facilities available. Here are a few suggestions to ensure effective renovation of a bathroom.

Step one is to come up with a refurbishing plan for your bathroom. Elaborate planning and comparing rates of several suppliers of bathroom accessories would ensure that you get the best result in your bathroom that fulfils all your requirements and also squeezes in your budget. Plan out every aspect including the fittings, setup and colour scheme before you begin the actual renovation.

Secondly, estimate the total floor area that you have and think of suitable ways in which it can be optimally made use of. A smaller bathroom can appear attractive with appropriate planning and with sufficient openings for natural light to enter as that would make it look bigger. Further remember to take note of external features like the layout of your apartment, temperature, and weather conditions.

Third, make use of fixtures carefully. The fixtures you select should be durable and useful. They should gel with the decor of the rest of the bathroom. You should go for lights that allow you to do your everyday shaving and grooming without any trouble. The issue of safety must never be ignored when selecting fixtures. The space used for taking a shower should have anti slip floors, and the electrical equipments like a hair drier should be kept at a distance from sources of water.

Finally, look for an experienced contractor and designer for the renovation, but don’t hesitate to go ahead and do some of the easier tasks on your own, such as fixing a towel ring. If you are based in Singapore, then a quick online search for ‘Renovations Singapore’ will give you details of a lot of competent bathroom designers for your project.

Discover more about interior design and uncover how does property renovations Singapore increase the net worth of your property overnight. This article, Suggestions On Renovating Your Bathroom is available for free reprint.

Filed Under: Investing, Related News, Remodeling and Renovation Tagged With: , , , , , , , , , , ,

How To Increase Your House Capital Value Using Interior Design Renovations

September 20, 2010 By

A complete renovation project is the best way to attract prospective buyers towards your property. Time should not be a factor for such projects because a house with a good makeover is always liked by prospective buyers, thereby raising chances of a lucrative resale.

A quick example of increasing the property capital value as well as salability and rent ability is adding a garage or car port. If the property has the space to add a car shelter and it does not have one, future buyers or tenants will see the added value. When you rent a property you can often recover the cost of the work from a tenant within two years. After that the extra rent you charge will be additional profit. On top of the rent amount if you are making additional changes to the property at the same time, your bank will take the upgrades into consideration when you get the property revalued.

Property renovations are normally carried out on the entire structure and area of the property and this also includes the electrical fixtures, furnishings and even the colour schemes. A meticulous property renovation aims at a greater degree of utility and comfort for the residents. Classy renovations can increase the worth of a property by even up to 50%.

The most significant aspect of a renovation is making the appearance of the property attractive enough. Most buyers are fully aware of the latest styles and incorporating them in your new interior design and house structure would surely draw more buyers ready to pay a good price.

It is advisable to hire the services of a seasoned interior design expert when you go for the restoration. If limited renovation is what you are targeting, then the interior designer can recommend which sections of your house can be cleverly redesigned to appeal to potential buyers.

For example, an interior design specialist knows how to generate good results by putting in a few architectural touches at minimal expense. Things like floor patterns, wall colours etc can give you a sense of brighter and spacious interiors. An interior designer is also required for advice on structural aspects of the house and can tell you if any parts need reinforcements. Being widely experienced, he can suggest you the correct strategy, taking your spending capacity and requirements into account.

An interior designer can also suggest to you which renovation materials are long-lasting and inexpensive at the same time. Getting the best appliances and materials at rates that won’t hurt the owner much is what interior designers excel in. They can also tell you how much time would be required for the whole restoration project to complete.

The buyers’ latest tastes and likings should also be found out from a seasoned property broker who has all the information about the dynamics of the property market. After all, every plan of yours is channelled towards building satisfaction in the minds of potential buyers when they see your house, and ensure a profitable resale.

Find out more about interior design and discover how does property renovations Singapore add value to your property rapidly. This article, How To Increase Your House Capital Value Using Interior Design Renovations is available for free reprint.

Filed Under: Home Design, Investing, Remodeling and Renovation Tagged With: , , , , , , , , , , , , ,

Refresh Your Residence With These Great Tips On Interior Design

September 20, 2010 By

Changing the interior design gives a fresh feeling to your residence, but a lot of people are troubled by the costs that they will have to bear while renovating. Given below are a few suggestions on renovating your home interiors without going overboard with the expenditure on the project.

Alterations in the fundamental structure of the residence are generally costly and take up a lot of time. Such alterations should be avoided at all costs, with the only exception being when you are especially troubled by a particular part of the residence. It will be advisable to concentrate on aspects that can be altered conveniently, without the need of any outside help or incurring a huge cost.

The first and foremost thing to take into account is the walls. Radical changes in your interiors can be achieved by merely changing the colour or wall finish or by using new wallpapers. When selecting a new colour, you should be mindful of many aspects, like how much natural light you get into your home and whether you have children who would prefer brighter colours.

Next on the list of priority are the drapes. Again, you have to be careful about the colours and patterns that you select. You should also remember that different materials have different opacity, and that will reflect in the ambience of the house. For instance, for your living room you might need something partially transparent, through which some natural light can enter to keep the room lightened up.

Furniture is a vital aspect in interior design, and you cannot accomplish a renovation of your residence without taking it into account. Fabric covering the furniture can be cleaned or replaced, while the wooden parts of the furniture can be re-polished to make it look fresh.

The last consideration is artwork. You must invest in new paintings or other decorative elements for your house. The old artworks can either be sold or at least their placement within the house must be changed.

Discover more about interior design and discover how does property renovation increase the net worth of your property rapidly. This article, Refresh Your Residence With These Great Tips On Interior Design is available for free reprint.

Filed Under: Home Design, Investing, Related News, Remodeling and Renovation Tagged With: , , , , , , , , , ,
Next Page»