Linda Tremblay, Associate Broker Bucks County, PA Real Estate Services

Spring Meadow Estates is located in Richland Township, just outside the Borough of Quakertown. This developement of single family homes was built by Judd Builders around 2002-2004. These three or four bedroom colonials feature two and a half baths, full basements, gas heat, central air, attached garages, public water and sewer. The homes are situated on between .15 and .30 acre lots. The square footage is usually between 2000-3000, depending on the model. The sale prices within the last year have been anywhere between $275,000 and $350,000.

This development is located within the Quakertown Community School District, close to shopping and major roads.

If you would like to buy or sell a home in Soring Meadow Estates or neighborhoods in the Quakertown real estate market, please call Linda Tremblay or Marcie Purcell. We are full time, full service real estate agents that specialize in "YOU" Perhaps you would like to know what homes in your neighborhood are selling for. If so, click here to see what homes are currently on the market for.

Below is a copy of one of the reports that my clients get when they subscribe to ehomes monthly newsletter. This one is very applicable now with the tax season upon us.

If you are considering buying or selling a home in the Bucks County real estate market, call Linda Tremblay or Marcie Purcell. We will be very happy to assist you with all your real estate needs.

Perhaps you are interested in what homes are selling for in your neighborhood or another neighborhood in the Bucks or Montgomery County area. Click here to get a market snapshot of the neighborhood that you are interested in.

Below is a page from our monthly e-newsletter that is automatically sent to our clients. If you or someone that you know would like to receive this newsletter filled with information on the real estate market, please call or email me or Marcie Purcell.

FHA Mortgage Rescue Program

Part of the Housing and Economic Recovery Act of 2008, passed in July 2008, includes provisions to help struggling homeowners replace their mortgages with 30-year fixed-rate loans backed by the Federal Housing Authority (FHA). Available from October 1, 2008 through September 30, 2011, the Hope for Homeowners program is designed to help homeowners who can no longer afford their monthly mortgage payments and have mortgages that exceed the market value of their homes.

How Hope Works
Hope for Homeowners funding is capped at $300 billion worth of loans with the following provisions:

• The program is entirely voluntary. Lenders will decide whether to participate in the program and which (if any) homeowners they help.
  
  
• The existing lender of the original mortgage must write off a portion of the existing loan for the homeowner to take part in the program. In addition, the lender must agree to pay a 3% FHA loan-origination fee in exchange for an FHA guarantee on the loan.
  
  
• If the homeowner currently has a second mortgage, the second mortgage lender must agree to forgive the entire debt. This is done through negotiation with the first lien holder.
  
  
• The FHA loan cannot exceed 90% of the home's current appraised value, verified by an FHA-approved appraiser. The maximum mortgage amount may not be more than $550,440.
  
  
• The property must be owner-occupied -- no investors or investment properties will qualify. Homeowners with second homes are not eligible.
  
  
• To qualify, homeowners must be spending more than 31% of their gross monthly incomes (as of March 1, 2008) on their mortgage payment (including principal, interest, taxes and insurance) on loans that were written before January 2, 2008. (Income must be verified by lenders through the IRS.)
  
  
• Homeowners may be current on their home loan payments or in default, but must prove that they cannot continue to make the payment on their existing mortgage. In addition, they must certify, under penalty of law, that they have not intentionally defaulted on their loan to qualify for the program.
  
  
• Borrowers will pay FHA an upfront premium of 3% of the original mortgage amount and an annual mortgage insurance premium (tax-deductible with limits) of 1.5% of the outstanding mortgage amount.
  
  
• The FHA will insure the new loans and agree to pay off the lenders if borrowers default.
  
  
• Homeowners must agree to share any future appreciation and equity on the property with the federal government upon sale or refinancing. Homeowners can only retain equity gains based on a sliding scale, with zero equity retainable from a sale/refinance in the first year (100% going to FHA). The homeowners share in equity would rise 10% in each succeeding year up to the fifth year and after (until the home is sold), when the homeowner's share of any capital gain would be 50%, FHA's share 50%.
  
  

Find Out More
More information about the Hope for Homeowners program is available online at www.HUD.gov (type "Hope for Homeowners" in the search window) or by calling (800) 225-5342. Both resources also offer information about the FHASecure program -- a program designed to help qualified homeowners who may be facing foreclosure due to an interest rate increase on their mortgage.

Did you have your home on the market and the listing contract has expired along with your patience? You have your home on the market for months, it has not sold and you do not know why? There are a handful of reasons that homes do not sell, but I have to say the number one reason is price. Following that there is also the home's condition, marketing (or the agent that you hire), location, and other things that can impact your sale. Read over these before you put your home back on the market.

Price: Many sellers now have their home overpriced. With the market being as high as it was two years ago, many of you have neighbors who have sold homes for more money than your home is worth now. Unfortunately, this happens in the real estate market. At this point however; it does not matter what the neighbor's home sold for, how much money you need for your home, or anything else except for the market value of your home today. The market value is determined by what a ready, willing and able buyer is willing to pay for your home. By overpricing it, often you will end up netting less than the value of your home because it has not sold. Buyers than think something is wrong with it.

Condition: To sell a home quickly, the home needs to have been maintained. Many buyers in today's market are looking for homes with new kitchens, new baths, and other upgrades. If you do not have a new kitchen or bath, you can still sell your home at the correct price if it appears that the home has been well maintained. Please declutter and possibly add a fresh coat of paint. You never have a second chance to make a good first opinion.

The agent that you chose:Please be careful about who you hire to represent you in the sale of your home. Your home is probably the biggest investment that you have made. Please be sure what the agent (broker) is going to do to market your home. Are they going to advertise it? Hold Open houses? Where will they put it on the Internet? Virtual tour? Realtor.com? After your home is listed with a broker, please double check and make sure that they have put room sizes in the multiple listing service. Also make sure there are pictures. Buyers like to know approximately how big the rooms are and will possibly eliminate homes that do not have pictures. Make sure some of the pictures are decent interior shots. Usually both buyers and their agents think something is probably wrong with the home if there are a couple exterior shots and none showing the inside of your home. Do not just chose an agent because they say your home is worth more than the other ones did. Chose an agent who wants to SELL your home, not just list it!

If you still would like to sell your home located in the Bucks County real estate market, Marcie Purcell and I would love to meet with you and discuss how we would market you home. Please give us a call or email us for a free market analysis.

If you are considering buying or selling a home in the Bucks County Real Estate market, call or email Linda Tremblay or Marcie Purcell for professional, full time Real Estate assistance. We secialize in Central and Upper Bucks Counties and the neighboring counties of Lehigh and Montgomery. Whether you are a first time homebuyer or you own a home and are looking for a change, we are here for you.