Getting a Mortgage may be easier than you think…

This article really supports what I’ve been preaching to all my friends, colleagues, and peers. Getting a mortgage isn’t hard, if you have a solid job, credit,  as little as $700 down you can STOP renting! Get the home of your dreams! half % downMillennials we are the next waive in the market and together will build a stronger economy. Take the first step.

Mortgage myths may be hampering U.S. demand: Survey

Monday, 15 Sep 2014 | 9:54 AM ET

–By Reuters

Getting a mortgage in the United States may be easier than many borrowers think, according to a survey released Monday by Wells Fargo, the largest U.S. mortgage lender.

Nearly two-thirds of respondents thought that a very good credit score was necessary to buy a home, and more than 40 percent thought they needed a down payment equal to at least 20 percent of the purchase price to buy a home.

Under government-backed programs, first-time home buyers with subprime credit scores can get a mortgage insured by the Federal Housing Administration, and they can put down as little as 3.5 percent of the purchase price.

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Since the financial crisis, lenders have clamped down on mortgage credit. The Mortgage Bankers Association’s Mortgage Credit Availability Index, which measures the ease with which borrowers can take out a home loan based on credit scores, loan-to-value ratios and other factors, fell by more than 80 percent from early 2007 through August 2014.

But there are other reasons why consumers are not taking out loans like they once did, including the fear of being turned down. In 2013, those fears kept 19 percent of families from taking steps to get a consumer loan, up from 18.5 percent in 2010 and above the 16.4 percent rate of families who were actually turned down for credit, according to the Federal Reserve’s most recent survey of consumer finances.

 

Continue to finish of article

Posted in Arizona, Business, FHA, Finance, First time buyers, homeownership, Life, millennials, Mortgage, Myths, Real Estate, Real Estate Market, Realtor, Rent, Uncategorized, Wells Fargo | Tagged , , , , , , , , , , , , , ,

I am now a CERTIFIED NEGOTIATION EXPERT!!

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Jason Salehi  RECEIVES NEW

“CERTIFIED NEGOTIATION EXPERT (CNE®)” DESIGNATION

Professional negotiation skills are necessary for all real estate agents

in helping home buyers and sellers, especially in the current market

Jason Salehi has been awarded the Certified Negotiation Expert (CNE) designation from the Real Estate Negotiation Institute (RENI).  The CNE is earned by real estate professionals after successfully completing formal negotiation training over two days.  Agents who receive this certification are among the top agents in the country in negotiation skills.

With professional negotiation skills, agents are able to help clients obtain better results in the sale or purchase of their home.  CNE agents have a higher skill level which enables them to 1) communicate more effectively to uncover desired information, 2) help clients understand their options, 3) work collaboratively with others, and 4) resolve deadlocks.  CNE agents have a thorough understanding of how to negotiate effectively to help achieve their client’s goals.    

The Real Estate Negotiation Institute is the leading negotiation training and coaching company in the real estate industry.  Collectively, the Real Estate Negotiation Institute’s instructors have over 300 years of real estate and negotiation experience.  Tom Hayman, the CEO and Co-Founder of the Real Estate Negotiation Institute, asserts:  “Any Buyer or Seller who hires a CNE agent can feel confident they have one of the best trained negotiators in real estate.  They should achieve superior results and have better resolution of all issues when represented by a CNE agent.”

For more information visit http://www.theRENI.com.

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Posted in Arizona, Behavior, Business, Certified Negotiator, homeownership, Housing Market, Humanity, Life, Mortgage, Negotiator, Protection, Real Estate, Real Estate Market, Realtor, Uncategorized | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , ,

5 signs it’s time to buy a home – How to know when to stop renting

Happy Labor day everyone! A lot of us millennials rent but with families on the way and remodeling projects on the mind rentals are no long feasible. Here are five signs it’s time to get out of the rental and purchase your dream home!

By Kathryn Tuggle, MainStreet

Although renting has its perks, many homeowners say there’s nothing quite like owning something you can truly call your own. Experts weigh in on five tipping points that often inspire renters to take on a mortgage and sign on the dotted line.

1. You want control of your surroundings and environment

2. You’re interested in a specific city or school district

3. Your family grows — or shrinks

4. You find a good deal

5. You have the down payment

As soon as you have your down payment saved, don’t be afraid to part with it, Levinson says.

“A lot of people reach their goal and then they don’t want to part with that money. The danger is that your eyes will start to get bigger, and you may try to purchase a bigger home than you can afford.”

Likewise, once people have their down payment, they may want to hold onto it for longer than necessary.

“A lot of people keep thinking something bigger and better will come along, but that day might not come. At some point you have to say, ‘This may not be our dream home, but it’s a good home and we’re going to go ahead and do it.'”

Continue Reading

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Beware of Rental SCAMS!

Always use a licensed Realtor®

It is sad to see people suffering from these scams! If a person is caught acting as a Realtor® and is not licensed it is a class 6 felony! Here is another story they aired on 3tv Arizona.

 

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By Gary Harper- azfamily.com Posted on August 28, 2014 at 10:07 PM

PHOENIX — For Alyssa Huff and her fiance, it’s an exciting time. Not only are they planning their wedding, but they’re packing up their belongings and moving.

Huff told 3 On Your Side, “We found a house which was perfect. I mean, we’re getting married in March, so I think it would be really nice to have a house instead of an apartment.”

The home they found for rent is a quaint, little three-bedroom house located in Peoria. Huff found the home using her smartphone and visiting different websites.

“There were pictures of the inside and the outside. Everything really looked great. It looked like it had recently been upgraded,” Huff said.

She called the number found in the ad and talked to someone who claimed to be the owner of the Peoria home. That person lived out of state but seemed eager to rent the home to Huff and even sent her a rental agreement to get things moving.

“Well, at first they said that money wasn’t an issue to them and that they just wanted someone who would really take care of their house,” Huff said.

Not wanting to get ripped off, Huff visited the Maricopa County Assessor’s website to make sure the name on property records matched the name of the person she talked to. The name matched, so Huff had no problems wiring $500 to a man listed on her Western Union receipt. She was told that he was kind of like the accountant for the homeowner.

“It sounded really legitimate. They said they were having their lawyer draw up a lease and an application,” she said.

Continue to read more and video.

 

Posted in Arizona, Behavior, Business, Fraud, Housing Market, Humanity, Life, Protection, Realtor, Scams, Toxic, Uncategorized | Tagged , , , , , , , , , , , , , , , , , , ,

Biggest red flag for mortgage lenders…?

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While most people believe their credit score is the main factor for being approved for a mortgage, that is not the lenders TOP priority. FICO and PRIMA published this survey for the second quarter of 2014 that shows the DTI (debt-to-income ratio) it the main priority to lenders. Survey: Click here

When asked which factor would make them most hesitant to approve a mortgage loan application, here’s how they responded:

  • High debt-to-income (DTI) ratio tops the list by a wide margin.  The U.S. Consumer Financial Protection Bureau (CFPB) suggests a maximum DTI of 43%.
  • The second-biggest potential red flag is if you’ve submitted multiple credit applicationsrecently, such as for a new credit card or car loan.  To lenders, this means that you’re planning to take on even more debt, which could affect your ability to repay a mortgage loan.
  • Low credit score comes in third.
  • Frequent job changes and lack of savings round out the top five.

The full article is here

Posted in Arizona, Behavior, homeownership, Housing Market, Life, Mortgage, Real Estate, Real Estate Market, Uncategorized | Tagged , , , , , , , , , , , , , , , , , , ,

1 Simple Mortgage Habit That Can Save You Thousands

I couldn’t resist sharing this with all my friends. Start making it a habit to pay more every month on your mortgage and save a lot of cash!

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By Matthew Frankel

If you have a 30-year mortgage on your home like most people do, it may seem like forever until you own your home free and clear. This doesn’t have to be the case though, and by paying just a little more each month, the time until your mortgage is paid off can drop dramatically. In addition to the shorter payoff time, you’ll save yourself a ton of interest in the process, so maybe it’s worth spending a little more now to make your financial future much brighter.

A little extra can go a long way
Let’s consider an example of a new 30-year mortgage with a $200,000 balance. At an interest rate of 4.5%, your monthly principal and interest (P & I) payment would be $1,013. However, if you were smart and bought a home you can afford comfortably, there should be a little extra in your budget.

If you could afford even $50 extra per month, it would knock almost three years off the loan. $100 extra per month would shorten the mortgage to just 25 years. Higher payments would knock even more time off the loan.

Continue to graphs and read more

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What to do after a FLOOD

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The Monsoon season of 2014 has been one for the record books thus far! People all around the valley of the sun have witnessed  excessive rain and flooding the last few weeks. Who says it doesn’t rain in Phoenix? We have seen plant nurseries wiped out in the town of New River and new homes at the foot of South Mountain flooded. So what should we do in the case of a flood. Here is a summary of steps to take from the article from Gwen Moran.

Avoid additional risks

Take pictures

Protect your health

Call your insurance company

Find out if your in a disaster area 

Remove water

Minigate mold damage

Secure the property

To learn more in-depth click here.

The Right Disaster Insurance for Your Region

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People and pushing them away in business & in everyday life

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This relates to everyone in all walks of life so I decided to share this here. My goal is to work on myself and help positively influence others as well. These are toxic behaviors that push people away everyday. In business this is CRUCIAL. Take a look at these 12 behaviors the author lists and to read further in depth about them continue here to the full article.

Being envious of everyone else.

Taking everything too personally.

Acting like you’re always a victim.

Hoarding pain and loss.

Obsessive negative thinking.

Lack of emotional self-control.

Making superficial judgments about others.

Cruelty (or lacking empathy and compassion).

Cheating and cutting moral corners simply because you can.

Hiding your truth.

Needing constant validation.

Being a stubborn perfectionist.

Behaviors listed come from MARC CHERNOFF article.

Posted in Behavior, Business, Humanity, Life, Toxic | Tagged , , , , , , ,

Here’s Why Owning Your Own Home Really is a Good Investment

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By Amanda Alix

According to a recent Gallup poll, more Americans are beginning to view real estate as a viable long-term investment. Thirty percent of those surveyed early last month took this view, up from 25% just a year ago. Gallup credited an improving housing market as being the chief driver of the change in popular opinion on this matter.

But, wait. Some experts, notably Yale economics professor Robert Shiller, disagree heartily with this view. In interviews over the past couple of years, Shiller referred to his research in which he studied home price appreciation from 1890 to 1990. He found that, considering costs of construction and inflation, homes really didn’t appreciate in value at all.

Does that mean that buying a home is a lousy move? Not at all, and here’s why.

Continue reading

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6 Things Everyone Should Do When Moving Into a New House

Moving into your new home is exciting! It also means you have some work to do.

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When I bought my first house in May, my timing couldn’t have been better: The house closing was two weeks before the lease was up on my apartment. That meant I could take my time packing and moving, and I could get to know the new place before moving in.

I recruited family and friends to help me move (in exchange for a beer-and-pizza picnic on the floor) and, as a bonus, I got to pick their brains about what first-time home owners should know.

Their help was one of the best housewarming presents I could have gotten. And thanks to their expertise and a little Googling, here’s what I learned about what to do before moving in.

1. Change the locks. You really don’t know who else has keys to your home, so change the locks. That ensures you’re the only person who has access. Install new deadbolts yourself for as little as $10 per lock, or call a locksmith — if you supply the new locks, they typically charge about $20-$30 per lock for labor.

Click here for how-to videos

2. Check for plumbing leaks. Your home inspector should do this for you before closing, but it never hurts to double-check. I didn’t have any leaks to fix, but when checking my kitchen sink, I did discover the sink sprayer was broken. I replaced it for under $20.

Keep an eye out for dripping faucets and running toilets, and check your water heater for signs of a leak.

Here’s a neat trick: Check your water meter at the beginning and end of a 2-hour window in which no water is being used in your house. If the reading is different, you have a leak.

3. Steam clean carpets. Do this before you move your furniture in, and your new home life will be off to a fresh, clean start. You can pay a professional carpet cleaning service — you’ll pay about $50 per room; most services require a minimum of about $100 before they’ll come out — or you can rent a steam cleaner for about $30 per day and do the work yourself. I was able to save some money by borrowing a steam cleaner from a friend.

4. Wipe out your cabinets. Another no-brainer before you move in your dishes and bathroom supplies. Make sure to wipe inside and out, preferably with a non-toxic cleaner, and replace contact paper if necessary.

When I cleaned my kitchen cabinets, I found an unpleasant surprise: Mouse poop. Which leads me to my next tip …

5. Give critters the heave-ho. That includes mice, rats, bats, termites, roaches, and any other uninvited guests. There are any number of DIY ways to get rid of pests, but if you need to bring out the big guns, an initial visit from a pest removal service will run you $100-$300, followed by monthly or quarterly visits at about $50 each time.

For my mousy enemies, I strategically placed poison packets around the kitchen, and I haven’t found any carcasses or any more poop, so the droppings I found must have been old. I might owe a debt of gratitude to the snake that lives under my back deck, but I prefer not to think about him.

6. Introduce yourself to your circuit breaker box and main water valve. My first experience with electrical wiring was replacing a broken light fixture in a bathroom. After locating the breaker box, which is in my garage, I turned off the power to that bathroom so I wouldn’t electrocute myself.

It’s a good idea to figure out which fuses control what parts of your house and label them accordingly. This will take two people: One to stand in the room where the power is supposed to go off, the other to trip the fuses and yell, “Did that work? How about now?”

More: Click here for how-to videos

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