Tuesday, May 29, 2018

New VA loan options for our military.

This Article from Realtor Magazine explains the options now available to Military personnel applying for a VA loan.

New Loan Option Could be Boon for Veterans

Purchase-rehab loans, recently unveiled by the Department of Veterans Affairs, would cover renovation costs and provide another avenue for military vets to take advantage of no-down VA loans.

About a month ago, the Department of Veterans Affairs released long-awaited guidelines for 100 percent financed purchase-rehabilitation loans for military veterans, a move that real estate professionals hailed as a much-needed option during the REALTORS® Legislative Meetings & Trade Expo in Washington, D.C., on May 16.
Carol Mitchell, an executive at Atlantic Bay Mortgage Group—one of the first lenders to offer the loan—told members of the National Association of REALTORS’ Federal Finance Committee that it’s a way for veterans to get the benefits of a no-down VA-backed loan for a home that could meet the agency’s property standards after rehabilitation. “You can get the rehab done with part of the purchase loan,” Mitchell said.
Greg Nelms, chief of loan policy for the VA Loan Guaranty Service, said the agency made its guidelines broad and flexible so lenders can add overlays that make sense for them. Atlantic Bay Mortgage, which is licensed to originate VA loans in 40 states, caps the rehab component of the loan at $31,100 and permits an additional $3,900 to cover fees, inspection costs, and construction contingencies of up to 15 percent of the loan amount.
The rehab work, which is limited to repairs and upgrades, must be completed within 90 days of receiving a loan. The money cannot be used for structural additions, although a buyer could add a room if it doesn’t involve removing a load-bearing wall. The appraisal must support the purchase price plus the improvements, a termite certificate has to be issued before the loan can be approved, and the buyer can’t act as the general contractor.

Monday, May 28, 2018

Memorial Day...
Is a day set aside to remember with gratitude and pride all those who served and died for our country and our freedom. A day to Thank those who still serve to protect us. May your day be filled with Memories, Honor, Blessings and Peace.

Monday, May 21, 2018

Real Estate is People, not houses.

Real Estate is People, not Houses…….I bought my very first house on Ponce de Leon Ave. in 2005. I was a fairly new Realtor, & new at taking care of a home. I had also never lived alone before, so I was very nervous about many aspects of that. Well, my neighbors welcomed me with open arms right away, & my first warm greeting came from Mary Milam across the street.
Miss Mary had lived there for nearly 50 years, raised her kids in that house, & she knew everybody in our neighborhood. I immediately felt safe & sound, & like I had family around me. I soon after met many of the other neighbors, & we were a mix of new, young homeowners like me, & families who had been there for generations.
I soon created a few regular running routes, & I loved seeing all the familiar friendly faces every day as I ran a beautiful 4 miles down around San Jose Forest to Nathan Krestul Park & back home. Everyone said hello, some would stop me & ask me where I lived & how far I was running. Soon after I got Maggie, my first rescue dog, & we would run & walk all over the neighborhood every day. Now we got to know all the dog people & would see the same dogs every day.
Miss Mary had Casey, next door Samantha had Buck, & Mrs. Coffman had three little Min Pins, one who she’d walk in a stroller. Sometimes Miss Mary’s daughter Kim would come over with little Maggie & we’d all just have a ball visiting & enjoying the beautiful day.
Miss Mary always looked out for me, calling or stop by to give me neighborhood news, or if a suspicious person had been seen. She collected my mail when I went out of town, brought my trash cans up to the house when I got home late, gave me advice on my yard & a million other things.
In 2010 I moved to Springfield, but I missed my San Jose community dearly. When my home turned in to a rental, Miss Mary still looked out for my house and its occupants. One day, I got the horrible news that Mary had passed away suddenly, & I was so saddened, but relieved to know that she had not suffered from a long term illness.
With a proud, but heavy heart I was happy to help Mary’s son & daughter prepare her home for sale, & quickly get a solid offer from a wonderful new family who will move into this home around the end of April. When I told people about this home, tears would fill my eyes remembering my first house, first dog, & Miss Mary, my first real neighbor in my adult life.
Our neighborhood may be old, & to some people it is a collection of houses that could use a little updating………..but to me San Jose is a community full of families, neighbors, friends & memories. I am always excited to introduce new buyers to San Jose, a hidden gem, full of solid homes, trees, parks, mom & pop retail. 
Most of all I am proud to introduce people to a community full of fantastic people.
I will always be proud to be your neighborhood real estate expert.  Thank you for trusting me to work with your family, friends and neighbors.

3830 Ponce De Leon Ave.
3 bed, 1 bath
Under Contract in 4 days
Listed for $175,000

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