“World's Most Complete Neighborpedia”
Explore:   What's happening in your neck of the woods?

Edwin Gerace

Short Sales, Lexington SC, Edwin Gerace

10-01-09
Edwin Gerace
Short Sales and the Economy..................... In my recent Blog post on short sales, I mentioned educating yourself on the process. The process changes everyday. Most agents see short sales as a nuisance but I see it as an opportunity to become a specialist in a growing area of real estate. I read in the October 2009 Keeping Current Matters, Quick Report a quote by Albert Einstein that made me think of my short sale learning experience. “If you can't explain it simply, you don't understand it well enough." Edwin Gerace will understand short sales well enough to explain it simply to buyers and sellers! Thanks Albert Einstein for helping me define my goal in short sale training!

Short Sale Lexington, SC.................................. Last year I had clients wanting to buy a short sale home. The contract was ratified mid July and we finally heard from the bank after my clients had given up. They had waited close to 4 months. My client selling his home in a short sale has been assured by his bank that they can give an answer back to the buyers in less than 30 days. What a difference a year makes! Completed short sales in the first half of 2009 was up over 208 % over the first half of 2008. Banks are understanding that the foreclosure process does not bring a higher price than a simpler, less costly short sale. Finally I have been working with professionals in the area from Attorneys to Loss Mitigation Specialist to other Banking Professionals. I have done allot of work to figure how to help out sellers in special financial situations, and how to help guide buyers through the short sale process.

Myths about Short Sales
1- They Move Fast
2- Buyers get a huge deal on homes
Truths about Short Sales
1- There are many to come in the future
2- They do take time
3- You need someone to help you sell or buy one
4- You get a home at a fair price (market price or lower)

To learn more about Short Sales and how to sell your home when times are tough and you want to avoid Bankruptcy.

Edwin Gerace
mail@609sold.com
www.EdwinGerace.com
803-609-SOLD
Follow me on Twitter www.Twitter.com/edwingerace

Edwin Gerace Reional Vice President for South Carolina Realtors

09-21-09
Edwin Gerace

PRESS RELEASE
Russell and Jeffcoat Realtors, Lexington, SC
Ph. (803) 957-5566 Fax (803) 957-4759

For Immediate Release For More Information, contact:
September 22, 2009 Edwin Gerace, 803-609-7653

Edwin Gerace Regional Vice President of SCR, region 3.

Edwin Gerace of Russell and Jeffcoat Realtors has been appointed as Regional Vice President, Region 3, for the South Carolina Associations of Realtors

Columbia, SC - August 22, 2009 - Edwin Gerace of Russell and Jeffcoat Realtors in the Lexington Office was appointed to Region 3, Regional Vice President for South Carolina Realtor Association. His duties include working within his region representing and educating his fellow realtors. "My goal is to help educate the members on the benefits to the state association, and be their voice at the state level", stated Edwin Gerace.

His Region will cover Aiken Board of Realtors, Central Midlands Association of Realtors, and N. Augusta/Belvedere Association of Realtors and Southern Midlands Association of Realtors.

"I encourage all realtors to be involved in their local association and state association, we as a group can make a difference", stated Edwin Gerace.

Follow Edwin on Twitter http://twitter.com/EdwinGerace

Follow us on Facebook www.Facebooke.com/edwin.gerace

For more information contact Edwin Gerace at 803-609-7653

#####

Lexington County South Carolina Home Buyer Assistance Program

07-26-09
Edwin Gerace

Lexington County South Carolina Home Buyer Assistance Program

Lexington Community Development
Accepting Applications
for the Homeownership Assistance Program

Lexington County is accepting applications for its new Homebuyer Assistance Program. Funding for the program is provided through the U.S. Department of Housing and Urban Development (HUD) HOME Investment Partnerships Program. Assistance will be provided in the amount of $5,000 on a first-come/first-served basis for eligible applicants.

For More information and or to receive an information and informational brochure contact Edwin Gerace via email at mail@609sold.com

Funding for the Homeownership Assistance Program is Provided by HUD's HOME Investment Partnership Program (HOME). HOME is the largest Federal block grant to State and local governments designed exclusively to create affordable housing for low-income households. HOME provides formula grants to states and local governments. The funds are used, often in partnership with local nonprofit groups, to fund a wide range of activities that build, buy, and/or rehabilitate affordable housing for rent or homeownership or provide direct rental assistance to low-income people.

For More information and or to receive an information and informational brochure contact Edwin Gerace via email at mail@609sold.com

General eligibility requirements to receive assistance for this new program are:
The home must be located within Lexington County.
The home must be occupied as the primary residence of the applicant.
The home must meet, at a minimum, Section 8 Housing Quality Standards (HQS). A Lexington County Building Inspector will assess the home to determine compliance with quality standards. If corrective work is required, all work to address HQS violations must be completed prior to the closing date. Down payment assistance funds cannot be used for minor repairs or to correct violations.
Homes purchased with assistance through this program must meet the HUD Single Family Mortgage Limits under 203 (b) of the National Housing Act (12 U.S.C. 1709(b)). The County's maximum purchase price for a home is currently $144,584 for a single-family dwelling (95% of the median area's purchase). Homes that exceed this cost are not eligible for assistance through this program.
An appraisal must be done on the subject home/property. The home must appraise for at least the value of the purchase price.
Homes selected for purchase must be built after 1978.

For More information and or to receive an information and informational brochure contact Edwin Gerace via email at mail@609sold.com


The Homeownership Assistance Program is administered through the County of Lexington's Community Development Department. The program provides funding to eligible first-time homebuyers to assist with down payment and/or closing costs. A first-time homebuyer is defined as one who does not presently own a home or land, nor has previously owned a home or land with in the last three (3) years. At the time of application to the Community Development Department, an applicant also cannot have an existing purchase contract on a home.

For More information and or to receive an information and informational brochure contact Edwin Gerace via email at mail@609sold.com

FREE HOME BUYER SEMINAR

07-26-09
Edwin Gerace

PRESS RELEASE

Jul 24, 2009 -

The secret to Home ownership & free grant money. Edwin Gerace, Carl Corbett , and Jill Kunkle will be offering a Home Buyer Seminar on July 27th, 2009 at Lexington County Main Library starting at 6:00pm. Please RSVP due to limited seating 803-957-5566. This seminar will focus on awareness of the great amounts of monies that are available for homebuyers and specifically 1st time Home buyers. In some cases, the amount of grants can equal up to $30,000. There will be a mortgage professional, Carl Corbett from First Reliance Bank to explain the opportunities of grants that are available. Edwin Gerace of Russell & Jeffcoat will be there to answer questions about the home buying process. Jill Kunkle with the Law firm of Harvey Casterline and Vallini will be present to answer questions about the legal side of home buying.

This seminar will be offered to civic and other groups by request. To request information prior to the seminar is available as well.


For Flyers to the Seminar Visit http://www.edwingerace.com/homebuyerseminar


For Flyers to the Seminar Visit http://www.edwingerace.com/homebuyerseminar

NACA Neighborhood Assistance Corp of America by Edwin Gerace

06-02-09
Edwin Gerace

The Neighborhood Assistance Corporation of America ("NACA") is a non-profit, community advocacy and home ownership organization. NACA's primary goal is to build strong, healthy neighborhoods in urban and rural areas nationwide through affordable home ownership. NACA has made the dream of home ownership a reality for thousands of working people by counseling them honestly and effectively, enabling even those with poor credit to purchase a home or refinance a predatory loan with far better terms than those provided even in the prime market.

What is the first step to becoming a home owner through NACA?
You'll need to attend a NACA purchase workshop. You can go to www.naca.com or call 888-302-6222, and sign up for the next workshop nearest you. Feel free to ask questions by calling the number or Calling Edwin Gerace at 803-957-5566

Feel free to email Edwin Gerace for more information mail@609sold.com or call him at 803-957-5566 or his cell at 803-609-7653.

Is there down payment and additional closing cost when using NACA?
There is no Down Payment or Closing cost There are no cost besides what NACA helps you save for the closing of your new home.

Who is eligible for NACA?
Everyone who does not own a home. You can sell your home, and then buy a new one with the NACA program

Can I buy a new home using NACA?
Yes

How does NACA's Interest Rates compare to National Banks?
NACA's Rate is always one point below the Conventional rate. Very Competitive.

Does NACA help me work through my financial issues so that I can buy a house now and in the future?
Yes. They guide you on down payment, monthly payment, saving money, and budgeting so that you are set up for success.

What are some of the major misconceptions of NACA?
NACA takes to long. NACA will work with each individuals circumstance to pre-pare them for home ownership. Depending on the client but you can expect a time frame from 3 weeks to what it takes to get you ready for home ownership.

NACA Overview
NACA Membership
Search Homes in Columbia SC
Kids Eat Free
About Edwin Gerace