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Columbia SC Homes for Sale by David Patterson

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What Does Real Estate BarCamp Mean to You?

11-07-09
Columbia SC Homes for Sale by David Patterson

This is a very simple question that should provoke some diverse answers in the COMMENTS SECTION of this blog post. (Hint. Hint.)

Here is some audio of Accredited Buyer Representative Kim Wood (Remax MainLine in West Chester, PA) on an episode of The David Patterson Show. Kim is a Technology Tools Trainer and Social Media Coach with TheTechByte.com 

Thanks in Advance for your responses!

0 Comments
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Social Media Superstar @kimwood on The David Patterson Show

11-04-09
Columbia SC Homes for Sale by David Patterson

Through social media, I've been humbled to meet some of the most brilliant minds in the real estate industry. These experiences lead me to experience a burning desire to focus an episode of The David Patterson Show on Social Media's Impact on The Real Estate Industry.

I was fortunate to have Accredited Buyer Representative Kim Wood (Remax MainLine in West Chester, PA) as my Guest Expert on the November 1, 2009 edition of my show.

Kim is a Technology Tools Trainer and Social Media Coach with TheTechByte.com

@kimwood is an active blogger and well-known participant in the Social Media Movement.

Listen to Kim's thoughts about Social Media.

4 Comments
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Twitter is a Marathon......... Longer Than A Tweet

07-25-09
Columbia SC Homes for Sale by David Patterson

At times, ActiveRain can be a very inspiring online social media network.

Here is a case in point.

While purging some "inactive bloggers" from my subscription list, I came across the musings of Tina Allen. Tina seemed a little overwhelmed and discouraged by her Twitter experience.

"I hate to just give up, but, I'm lagging so far behind with this twittering, I don't think I can catch up."

Hey Tina! Be of good courage... I have some good news for you!

Twittering is like a Marathon... Steady persistence wins the race.

In my opinion, the use of all Online Social Media tools shouldn't be viewed as a "sprint".

It can take 6 - 18 months to build a viable, consistent online presence through these tools.

Without question, Twitter is an excellent way to build a diverse and profitable Lead Generation Database. REMEMBER.......... You are in the LEAD GENERATION BUSINESS.

If you don't have leads..... YOU HAVE NO BUSINESS!

Who do I "tweet"? Everyone! However, I have a core group of "followers". These are the individuals that would..... 'know me, like me and trust me.... and would send referrals to me'.

These "tweeples" have helped me to build a national presence that has lead to being interviewed by national publications.

My Twitter success has led to speaking/training engagements within the Keller Williams Carolinas Region.

There should be a balance between "everyday stuff" and "real estate specific content".

My first goal in Twitter is to build my professional credibility. I share my blog posts. I share my listing. I update my "followers" on my teaching schedule. These "tweets" will let my "followers" know about my involvement and success in the real estate industry.

Do I share "everyday stuff? ABSOLUTELY! It's important to connect with "followers". If they don't like you, the chances of receiving a referral from your "followers" are slim.

Keep your head in the game Tina.

Pursue Twitter success with the same passion as your pursuit of ActiveRain success.

YOU WILL SEE RESULTS!

14 Comments
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Mythunderstandings of and $8000 for First Time Home Buyers

06-11-09
Columbia SC Homes for Sale by David Patterson

On the June 7, 2009 edition of The David Patterson Show, Samantha Taylor with Russell and Jeffcoat Realtors and I discussed the May 29, 2009, The United States Department of Housing and Urban Development Mortgagee Letter 2009-15 ("Using First-Time Homebuyer Tax Credits")

In relation to The American Recovery and Reinvestment Act of 2009, first-time homebuyers WITH THE RIGHT LENDING PARTNER might have an opportunity to obtain $8000 at the closing table for down payment assistance, closing costs and/or prepaid expenses.

We also discussed MYTHunderstandings of first time home buyers. If you are a first time home buyer and want to take advantage of low interest rates, tax credits and lower home prices, TODAY IS THE DAY to start your home buying process.

Do you really understand the current real estate market? Are you truly prepared to make the best purchase? Listen to this podcast for the answer.

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First-Time Buyers COULD Receive $8000 in Down Payment Assistance

06-05-09
Columbia SC Homes for Sale by David Patterson

On May 29, 2009, The United States Department of Housing and Urban Development released Mortgagee Letter 2009-15. "Using First-Time Homebuyer Tax Credits" was the subject of this opportunistic letter. In relation to The American Recovery and Reinvestment Act of 2009, first-time homebuyers might have an opportunity to obtain $8000 at the closing table for down payment assistance, closing costs and/or prepaid expenses.

Here is a direct quote from a section of that letter ---

II. FHA Tax Credit Guidance

Secondary Financing

Consistent with existing FHA policy, FHA will permit entities covered by Section 528 of the National Housing Act to use the current authority to offer tax credit advances with second liens in a manner consistent with the requirements in 12 U.S.C. 1709(b)(9). Eligible government agencies and instrumentalities of government are described in handbook HUD-4155.1 5.C3 and 5.C4.

Conditions:

  • The tax credit advance when combined with the FHA-insured first mortgage may not result in cash back to the borrower.
  • The second lien may not exceed the total amount needed for the down payment, closing costs, and prepaid expenses.
  • Secondary financing may be "soft" (silent) or require a monthly repayment.

  • If payments are required, they must be included within the qualifying ratios and, when combined with the first mortgage, cannot exceed the borrower's reasonable ability to pay.

  • Payments must be deferred for at least 36 months to not be included in the qualifying ratios.

  • If the tax credit advance loan has a short term for repayment, it must also provide that if the borrower fails to repay by the designated deadline, principal and interest payments begin automatically or the loan converts to a "soft" second.
  • The secondary financing may not require a balloon payment before ten years.

Are you looking to purchase your first home? Do you want $8,000 in assistance?

From Honolulu to Hoboken, I can help with your real estate purchase process.

Give me a call TODAY!

2 Comments