Suisun City, CA

That is easy; you will sell more properties and get more referrals.

As a Realtor or Agent why should you push the 203k loan? Let’s start with the other agent, the one that tries to steer you away from the 203k. The only reason that happens is because they haven’t done their homework on the “k” products. That is correct. Why would I sell you something if I couldn’t answer those question you have about that item? I wouldn’t, in fact they are doing everything including lying about the program because they find it easier than taking a 1 hour program to learn it.

The program is simple, it is as simple as finding your Teammate who does know about the program. It is clearly a niche product but one you SHOULD have in your arsenal. That is all it is, another tool that has its place in your arsenal. It is no more than that. There are just some properties out there that need some TLC and others right now that need allot of repairs. In any case, you need to know this product for the next few years, inside and out.

I was very happily surprised when a friend of mine came up to me recently after a presentation of the 203k and Streamlined “k” products and asked me, “how can I use this to sell more of my REO properties?”. I was actually taken off guard but that is why he is one of the best in that business and I was proud that he asked the question because he is trying to move twice as many properties that he did last year, and I think he may do it.

What is the 203k, simply put it is a loan program that provides purchase or refinance money (a guarantee that it will be paid back) and the money to make the repairs. Is there a limit to the extent of the repairs – NO. There is a limit on the repairs on the smaller “Streamlined k” product of $35,000 including costs and fees and a contingency if you have one (the contingency is NOT required for a Streamlined “k”). The limit for the “Full 203k” or sometimes referred to as the “original 203k” is the cost of the purchase (debt on the existing house) plus the repair money and not to exceed the maximum loan limits for the county where the property exists. So, if you have a refinance of a property that you just inherited and it is free and clear of any loans you may put a loan on that property up to your loan limit for the county where it is located. In my county that is $557,500 provided the property will appraise for that amount. In fact it can appraise lower than that by 10% and we can still do the transaction.

So, lets look at a possibility. The asking price of a “fixer” was $300,000, then they lowered it to $250,000, still no takers. The bank knows it has issues and finally drops the price to $150,000 when a buyer looks at the property. They call a 203k consultant out to the property to perform a “feasibility analysis” which is a quick idea of what will it cost to repair the deficiencies so the property can be made whole again. Lets say for this scenario it is $100,000 to make the repairs but this home was just a 3-bedroom, 1-bath house so the borrower’s decided to add another bathroom making the remodel part of the “full 203k” they costs come to $120,000 and they decide a 15% contingency is appropriate as the utilities were off at the time of the inspection. Yes, they can be OFF at the time of the inspection but if so, the program mandates a higher contingency reserved. Money held just in case we find something else we hadn’t identified that requires repair once we get into the job.

This is now a $138,000 loan for the repairs on top of the purchase price of $150,000 for a total loan about $288,000 on a home that should be worth about $300,000 when complete. The problem has been that no one had any idea of the cost to fix it back up, not the bank and not the previous potential buyers. But YOU, knew about the 203k and this home is located exactly where your client wanted to take their kids to school. The big advantage other than you made a sale when your competition couldn’t is that your client has “equity” and they get to choose all their own paint colors, cabinets, counter-tops, floor coverings, etc. This will truly be their home. Not just a home someone else fixed up to sell but one THEY fixed up to live in. That is empowering.

See what you can do with a little knowledge? You have to be able to see the potential

First Time Real Estate Investors—How do I know if I’m making a good investment?—Investing in Suisun

First, what are your financial reasons for wanting to invest in real estate? College education for your kids? Money to travel the world? Extra retirement funds? All of the above? Good!! For every Suisun investment property you purchase, you should have a financial goal tied to it. This way, you will be able to analyze properties knowing what your financial needs are. It’s like those Fidelity commercial with the green line, you’ve got to know where you want to go, to get there. This will serve as your anchor when the market seemed to being just the opposite of what you hope. This anchor will keep you on a steady path through the ups and downs.

Next, you’ve got to realize some of the financial difference between an “owner-occupant”—someone who will live in the Suisun home they buy and an “investor”—someone who will not live in the Suisun home they buy. When it come to financing, banks know that most novice investors don’t do their due diligence in evaluating a property and that means a higher risk to the bank to lend the money. Therefore, the banks charge a slightly higher interest rate to investors and require more of a down payment. Typically, banks will charge 1% to 1.5% more on the interest rate and require 25% to 30% down on an investment property. So just know you can’t buy an investment property with 3.5% down and 3.75% interest.

We want your real estate investing in Suisun to be a success, not a failure. Keep following our blog for more information. If you are interested in finding an investment property in Suisun, give me a call.

If you want to build wealth, real estate has consistently proven to be one of the unparalleled best means to do so. This can be attributed to the benefits that result from favorable tax implications, financial strength through leverage and rental income that will cover the expenses need to pay for the property. As a real estate agent, I am dedicated to helping first time real estate investors through the process of deciding if a property meets their financial goals, if the property makes financial sense as an investment and how to grow wealth through real estate investing.

www.solanopacific.com Nicole Monary

http://ownamerica.com/investor/#

http://casestudy.ownamerica.com/

Suisun City CA Real Estate home prices vs rental rates: Doe's it make sense to rent when you can own a home?

In today's market interest rates are at an all time low. Prices of homes are down from an all time high. The housing market in Fairfield CA appears to have stablizied, which may indicate we are at or near the bottom of price reductions.

Department Of Real Estate's chief economist Leslie Appleton Young in a recent meeting with me made these statements.

All fundementals are sound:

1. Prices are low.

2. Inventory is good.

3. Interest rates are lowest in history since 1970

Homes prices in Suisun City CA are at or near replacement cost, it makes more sense to buy a home then it doe's to rent.

If you pay rent for the next 5 years here's what you'll pay out, please keep this in mind as you pay rent you are paying off someone elses mortgage. Helping your landlord pay for their investment is perhaps noble, but; is it wise for your financial future?

$900 your monthly rental payments will = $54,000 after only 5 years.

$1,000 = $60,000 $1,100 = $66,000 $1,200 = $72,000 $1,300 = $78,000 $1,400 = $84,000

$1,500 = $90,000 $1,600 = $96,000 $1,700 = $102,000 $1,800 = $108,000 $1,900 = $114,000

$2,000 = $120,000

To search all Suisun City Ca Real Estate for sale follow this link.

As you consider the numbers above you can do multiplications out 10, 15, 20, 25 or 30 years. The amount of rent money you'll pay is stagering. Now consider this? You have to pay to live somewhere anyway, so why not own the home? You can own a home and have the lowest interest rate at the same time.

Yes many people in the past few years lost money in the housing market. (They bought when prices were high) Suisun City CA Real Estate, Just Foreclosures

The old addage applies today, buy low (today's market) sell high in the next rising market. Yes the prices of homes will rise, they always do. Today's market offers more then just price benefits. Interest rates are below 4% this is an amazing time to buy real estate.

Do you want to know the value of any home in Suisun City CA? <Just follow the link.

To find out more about how you can take advantage of this combination of events Low Prices and Low Interest Rates follow this link.

Information is brought to you by Terry Hughes, GRI, SRES, CDPE (707)-249-8688

For more information about Terry Hughes follow this link

"Scenic Limited" train rides organized by the Western Railway Museum located at 5848 State Highway 12 Suisun City is extended til May 15.

These "wildflower" train rides normally are done by the end of April. The wet winter and increasing temperatures has produced an abundance of wildflowers here in Solano County. This has extended the popular train rides for a little while longer. Train times will be on Wednesdays, Saturdays, and Sundays at 11AM, 12:30PM and 2PM But you have to get there by May 15th!

No reservations are taken and all seats are first come first served. Coach tickets are $10 for adults, $9 for Seniors 65 or older, $7 for children aged 2-14. There are First Class tickets for an extra $5 per person for the Parlor Observation car and includes refreshments of cookies and lemonade.

This is a great opportunity to see the "wild" side of Solano County in all its beauty. Did you know Solano County is 80% agricultural? Hard to believe when we are an hour away from San Francisco.

Come Aboard! Scenic Limited Train Rides at the Western Railway Museum til May 15. For more information visit www.wrm.org or you can call 707-374-2978.

DOG LOVERS UNITE AND GET READY TO TAKE AN "ARMORED FLIGHT"-JOIN US FOR

THE VEGETABLE PATCH SPRING FLING FAIRE--SUISUN REAL ESTATE

Are you a dog lover? Did you ever stop to think that K-9 dogs are at risk of getting injured in the line of duty? Honestly, the thought never occurred to me.

The Solano County Sherriff's Department K-9 unit is asking for your help in raising funds to armor their dogs with vests and prevent man's best friend from getting hurt while they provide an invaluable public service. A bullet proof vest for man's best friend costs around $1600.

Who better to help "armor" our canine friends, but Armored Flight? If you have never had the pleasure of meeting any of the members of this band or hearing them play, then get ready to be impressed. These are some of the best and nicest people in the world, who just happen to play really great music too.

Photo courtesy of Armored Flight website

Armored Flight will be appearing at 1^st Annual Vegetable Patch Spring Fling Faire to be held on April 16^th at 2820 Rockville Rd., Suisun Valley, CA. It is going to be an afternoon of arts and crafts, food, music and a raffle. All proceeds from the raffle will directly benefit raising money for bullet proof vests for the Solano County Sherriff's K-9 The goal is to raise at least $1,600.00 to pay for one vest for the K-9 Unit.

The event will begin at 10am and go until 5pm. For more information call The Vegetable Patch at (707) 427-8164. So if you want to keep our K-9's safe, come out and lend your support.

To find out more about Armored Flight visit their website at: http://armoredflight.com/

Also appearing will be special guests, The Crosson Brothers out of Vacaville who just released their CD "Lights Out" with the hit single, "California's Calling" featuring Armored Flight's Brandon Andersohn, their newest addition and supporting guitarist.

For more information on SUISUN CA homes for sale, please contact via phone, email or text. To see what's for sale throughout SUISUN CA please visit my website at: www.soldbynicole.com and click on search the MLS. If you want to know how much your current SUISUN CA home is worth, click on CMA and I will happily provide you with a complimentary, no obligation, "Current Market Analysis" of your home. I also write a blog about market statistics for most of the bay area markets. Click here to view my blog: http://activerain.com/blogs/nicolemonary