Jeff Engle EnglePropertiesOnline

Hello Neighbors,

Many thanks for those of you who have helped us support the Auburn "Highway 49 Fire" relief efforts. We plan to drop off another huge batch of clothing this weekend. This is a great community, and we very much appreciate the support from everyone.

For us... This is more than propaganda. Helping the communities where we live is part of our operating philosophy we call "The Neighborly Way". Take a look at point #9:

The Neighborly Way

1) Service - NOT Sales

2) Be the Industry and Market Expert

3) Advisors, Coaches, and Teachers

4) Respect for the Client, Team Member, Partners, and Peers

5) Communicate Frequently - with Fact, Tact, and Truth

6) Integrity First, Honesty Always

7) Earn and Encourage Trust

8) Personal Earnings are Second to Client Service and Their Satisfaction

9) Repay our Communities, Promote Charity

10) Protect and Promote the Environment

11) Deliver a Single One Stop Shop Experience

12) Unwavering Belief in The American Dream

Our name was chosen very intentionally. "Neighborly" is the way we conduct ourselves. These points guide our decision making and our actions. The "Neighborly Way" is much more than a simple tagline - it's how we live.

Jeff
Neighborly Realty
http://www.EnglePropertiesOnline.com

Hi Neighbors,

I want to share Neighborly Realty's vision, direct from the Broker Jim Harris and fully endorsed by myself. The reason I joined Neighborly is because of our commitment to YOU and an attitude of helping and educating our clients. YOU are the reason we are successful.

From time to time, it's important to look at why we are here. Keeping us focused on a few fundamental beliefs means better service levels for you.

So now and then, we ask ourselves - what is Neighborly's Vision?

Where do we fit against the competition?

How do we behave, and represent the Neighborly Way every day?

Simply stated......


THE Choice

By Delivering Unequaled Customer Service, Neighborly is the Recognized Leader in Real Estate and Lending Services in Northern California - By Clients, Partners, and Industry Professionals.

Neighborly Offers a Fully Integrated Suite of Services to Meet and Exceed Client Expectations. Neighborly is THE CHOICE in Real Estate and Lending Services.

We believe it. We practice it. We welcome the opportunity to prove it to you.

Jeff
Neighborly Realty
http://www.EnglePropertiesOnline.com

Hi Neighbors,

Just a quick update. The California Association of Realtors posted it's 2nd quarter 2009 First Time Homebuyer affordability index. For California overall, 67% of households could afford to buy an entry level home. This is up from 49% a year ago. The estimated monthly payment including taxes and insurance is $1,330 for a median priced $224,180 home. The minimum houseold income was $39,930.

For Sacramento region the index was at 79% compared with 70% a year ago and 80% last quarter.

Again, good news for first time home buyers! Chances are good that you can qualify not only for that home, but also if you act quickly you can still apply for the $8,000 Federal Tax Credit for First Time Home Buyers.

More details on each area can be found here.

Enjoy,

Jeff
Neighborly Realty
http://EnglePropertiesOnline.com

Hi Neighbors,

Lots of things go into calculating the interest rate on your mortgage, so few people get the rates quoted in online or newspaper ads. Factors that influence your interest rate include:

• The amount of your down payment also factors in the 'Loan to Value' ratio
• Points paid to 'buy down' your interest rate
• Your credit score as reported by Experian, Trans Union and Equifax agencies
• Debt to Income ratio
• Type or property
• Whether you are occupying the property or someone else
• Amount of loan

An interesting article in the New York Times and reported on the NAR website regarding the amount of down payment:

A Down Payment Anomaly

Despite home buyers being advised to issue down payments of at least 20 percent, many home buyers are finding that smaller down payments result in better interest rates-but also higher payments.

Rules put in place in late 2008 by Fannie Mae and similar rules adopted by Freddie Mac are less favorable to borrowers who put down 20 percent to 25 percent--partially because the GSEs consider these borrowers to be more of a credit risk since they are not required to purchase private mortgage insurance.

According to Fannie Mae, borrowers benefit from this industry practice because they are able to leave themselves a financial cushion by not issuing larger down payments, and can instead save the extra money for emergencies.

It is important to note though that smaller down payments mean higher monthly payments because the loan itself will be larger.

To read the full story, please click here

Enjoy,

Jeff
Neighborly Realty
http://www.englepropertiesonline.com

Hi Neighbors,

Came across this tidbit originally posted in the NY Times:

Here are seven bits of wisdom from economists and financial planners for anyone contemplating a home purchase today:

• Old-fashioned basics are more important than ever. The safest way to purchase a home is to put down 20 percent on a fixed-rate, 30-year (or less) mortgage.
• Don't become overconfident about income growth. Even though buyers in their 20s and 30s will likely see their incomes grow more quickly than previous generations, it is important to act sensibly when borrowing.
• Anyone contemplating adding children to the family should calculate whether they could live on one income because having both halves of a couple work may turn out to be impractical.
• Include a maintenance budget. Even new homes need upkeep and repairs.
• Buyers who can't afford their dream home now should opt for a starter home where they can save money each month for what they really want.
• Consider a property that can be expanded and improved down the road when money is available.
• No two buyers are the same, but they should all feel confident with the loan they enter into, no matter the size of the mortgage.

Source: The New York Times, Ron Lieber (09/12/2009)

Enjoy,

Jeff
Neighborly Realty