Richard Shuman P.A.

JUMPandDUMP:(from the SKIPtheBULL Dictionary)

The act of purchasing a BETTER HOME while your credit scores are high then DUMPING YOUR EXISTING HOME that is worth less than you owe on it. (i.e. Short-Sale, Foreclosure)

Although this may sound like a great idea. The Mortgage Industry has caught on! Almost daily underwriting guidlines change to protect lenders from such practices.

Theses changes may include but not limited to:

You MUST have at least 30% equity in the existing home before you can count rental income. If you do not have the 30% then they must qualify with both payments and have 6 mos PITI in reserves (cash in bank) for each property.

Every Day I get an email from a potential client looking to buy a home for $25,000.00 in the Orlando area. They don't want much! 3 bedroom, 2 bath, good schools, large yard, fenced, pool, 2 car garage, 1500+ Sqft BUT WILLING TO FIX IT UP. (Paint & Carpet)

Well it doesn't exist!!!! You have to spend 10 times that to get what you want. Maybe if you go a ways away from orlando you can get it for $175,000.00 maybe even $150,000.00 but if it sounds to good to be true, it is!

I had a referral given to me today. A client wants to spend under $200,000.00 for a 4 bedroom home in Oviedo. Not a problem; I found 4 that may work for him. During the same conversation, they mentioned that the want to offer $160,000.00 at the most. I told them we could try!!!!

The fact is that if a home is already under-priced, then the seller is expecting to move a little but MOST SELLERS ARE NOT WILLING TO MOVE 20% FROM THEIR LIST PRICE.

If you find a good deal and you like the home and plan to live in it, then take it and accept that a good deal doesn't have to rip off the seller!!!!

REALTOR to REALTOR REFERRALS

Send all your Central Florida Referrals to Richard Shuman P.A. 407 448 7759

RE/MAX Select 1803 East Broadway St Oviedo FL 32765 www.FloridaRelocationMadeEasy.com

or www.LowestFloridaRates.com

I would love to help your clients relocate to the Orlando Area. No one will take better care of them. I work with Buyers in most price ranges but usually from $200,000 to over $2,000,000.00 Call or email me today to get started. I cover most of Central Florida including Oviedo, Winter Springs, Winter Park, Lake Mary, Orlando, Clermont, Casselberry, Deltona, Debary and More. Orange County, Seminole County, Lake County, Polk County and West Volusia County. New Construction, RESALE Homes, Foreclosures and more.

Clifton Financial Services, Inc

670 N. Orlando Ave, Suite 101

Maitland, FL 32751

Ask about our USDA Insured Rural Housing Loans

• Finance up to 102% of the appraised value
• 30 Year Fixed Rates lower than conventional
• No Minimum Credit Requirement
• No Mortgage Insurance
• Finance In Closing Costs and Prepaid Items
• No Maximum for Seller Contributions
• Not Subject to Declining Market

We are also offering FHA Financing using the Ameridream Program where we get the SELLER to PAY your Closing Costs and Down Payment.

Apply online at www.LowestFloridaRates.com www.SKIPtheBULL.com

407-448-7759

Richard Shuman P.A.

Subject to change without notice.

Oviedo Florida is one of the best values for homes in the Orlando area. You can still buy a home in an area with great schools for $250,000 - $500,000. Oviedo is located in Seminole County Florida. The census of 2000 shows there are 26,316 people, 8,556 households, and 7,178 families residing in the city.

I think it's one of the best places in Florida to live.