About Peoria County, IL

The City of Peoria, through its Department of Planning and Growth Management, has re-opened the Down Payment Assistance (DPA) Program as of Tuesday, January 19, 2010. The DPA Program provides up to 20% of the purchase price of a property, with a maximum amount of $10,000, to income-eligible homeowners. The Program is available Citywide to first-time homeowners. Special priority and emphasis is given to the Glen Oak School Neighborhood Impact Zone for non first-time homebuyers who purchase within the Zone.

With the funds available, City staff will accept a total of 15 applications on a first come, first served basis.

Applications and Program Guidelines can be obtained from the Department of Planning and Growth Management (PGM) or at http://www.ci.peoria.il.us/planningforms. Any individual interested in applying or would like additional information should contact Nicole Frederick, Grants Coordinator at 494-8606 or nfrederick@ci.peoria.il.us.

Thinking of buying a flip home, but have not look at HUD homes due to the 90 day regulation against flipping? Well now might be your chance! Below is a link to an article from Reuters. Effective Feb 1, the Housing and Urban Development Department will waive for one year an FHA rule that prohibits insuring a mortgage on a home owned by the seller for less than 90 days.

See more by clicking on the link:

http://news.yahoo.com/s/nm/20100115/us_nm/us_usa_economy_foreclosures

I have sold many HUD properties, If you need assistance please let me help!

Top Tips to Buying a Real Estate Short Sale

Many real estate bargain hunters are searching for the "secret to short sales" so that they can cash in on the deal of the century. I'm often asked how to buy a short sale. I'm going to lay it out for everyone in this blog post.

Top Tips to Successful Real Estate Short Sales

Short Sale Tip Number 1 : Most Short Sale Properties are sold "as is"

Let me explain why someone would sell a property as a "short sale"...THEY CAN'T MAKE THEIR MORTGAGE PAYMENT!!!!! This would imply they can't replace the old faucet with a new one...they can't afford the cost to mitigate the radon...if you don't like the carpet; we are sorry but we won't be giving you a carpet allowance. However, chances are you will purchasing this property under market value. Therefore, a little expense and repairs are most likely worth the "trade off".

Short Sale Tip Number 2: Be Realistic with your offer

Yes, it is true. You are, most likely, going to get a great deal. However, please don't expect to purchase a home on the golf course right next to the country club....which sold for 1.2 million 3 years ago for $50,000. I am pretty sure you wouldn't even get a counter-offer-ha! Seriously, the bank has certain variables to consider and has to answer to their investor. Please be realistic with your offer and your expectations.

Short Sale Tip Number 3: Be prepared to wait!

Short sales take a looooong time to close compared to a traditional transaction. Don't expect to write an offer and get an answer quickly from the seller with bank approval attached. It is a unique process. Be patient with your Realtor...they want it to close too! Don't threaten to walk away from the sale thinking this will move things along...it actually will do the opposite. The bank is not going to pay additional funds to get a property ready to close if they feel they have skittish buyer.

A short sale is a great opportunity for the buyer and seller involved....be patient, patient, patient...and realistic....keep your eyes focused on the prize!

I love a company that never stops learning. That is one of the reasons I made the switch to Jim Maloof. Yesterday I sat in on a technology meeting to help determine our strenths and weaknesses in todays market as far as technology goes. I see many big things on the horizon for this company. They are not afraid to spend money to help their clients sell homes faster! I am very glad I made the switch. It's no wonder we are #1 in the area.

www.TonyBrust.com

www.WeSellPekin.com

With the US Census process beginning, the Better Business Bureau (BBB) advises people to be cooperative, but cautious, so as not to become a victim of fraud or identity theft. The first phase of the 2010 US Census is under way as workers have begun verifying the addresses of households across the country.

Eventually more than 140,000 US Census workers will count every person in the United States and will gather information about every person living at each address including name, age, gender, race, and other relevant data. The big question is - how do you tell the different between a US Census worker and a con artist? BBB offers the following advice:

A. If a US Census worker knocks on your door, they will have a badge, a handheld device, a Census Bureau canvas bag, and a confidentiality notice. Ask to see their identification and their badge before answering their questions. However, you should never invite anyone you don't know into your home. You don't have to invite the Census take into your house either.

B. Census workers are currently only knocking on doors to verify address information. Do not give your Social Security number, credit card or banking information to anyone, even if they claim they need it for the US Census. While the Census Bureau might ask for basic financial information, such as a salary range, it will not ask for Social Security, bank account, or credit card numbers nor will employees solicit donations.

Eventually, Census workers may contact you by telephone, mail or in person at home. However, they will not contact you by Email, so be on the lookout for Email scams impersonating the Census. Never click on a link or open any attachments in an Email that are supposedly from the US Census Bureau.

For more advice on avoiding identity theft and fraud, visit www.bbb.org

Posted by Katie Arnholt Kim
The Kim Group
www.thekimgroup.com