After having knee surgery, Butch Strother, developed clots. The doctors then noticed a blockage near his heart. Now he is scheduled for bypass surgery and could use the support and prayers of our community. If you would like to show your support (and have a good meal) please come by and pick up a jambalaya lunch on Tuesday, August 11, 2009 at:
RE/MAX First
4750 Sherwood Common Blvd.
Baton Rouge, LA 70816
If you plan to have a lunch send an email so that they'll have a head count and can prepare the appropriate number of lunches. Send your email by 8/10 to get your lunch request in timely!
Lunch pickups can be made 10:30a - 1:00p on 8/11.
Butch is a great guy so when you plan to go out to have lunch next Tues, just plan to come on over to RE/MAX First and pick up lunch instead.
In my post yesterday I mentioned that the interest rate on the NACA loan was 4.875%. It did go up and is now 5%. It's still a very interesting program that makes slightly lower than normal interest rates available. I don't know how often the rate fluctuates, but it is a 30 year fixed rate loan. If you would like more information, just call and we'll provide you with current updates via phone or in person. 225-341-BRLA
To view the blog post to which I am referring go so www.HomeAfterHomeBlog.com and scroll down to the post entitled:
I first heard about NACA last week. Over the weekend I spent much time reading on their website about the NACA program. And, today I went to an agent workshop wondering, "What the heck is the catch?"
The program on it's face offers a home loan on purchases up to $200,000 with no money down and no closing costs at a below normal fixed rate. They particularly care about credit scores, so it neither helps you to have a good score nor hurts you to have a bad score. There's no prepayment penalty and no private mortgage insurance. So just what IS the catch?
Well, there are a few things that one should know before using a NACA loan to purchase a home. First, you must live in the house for the entire time that you have a NACA loan on the property. Next, you won't ever be able to get a second mortgage (such as a Home Equity Line of Credit) as long as NACA has the loan on the house, because they won't permit a second lein holder. (If you wanted to convert the property into an investment property, you would need to refinance into a conventional loan out of the NACA loan.)
Oh, and remember I said there's no mortgage insurance? There is, however, a $50 per month fee that you pay. I think they could have come up with a better acronym for this fee which is NSF. It stands for Neighborhood Stabilization Fund. At the workshop they said that the homeowner pays this $50 fee for 5 or 7 years. I'd like to know exactly if it's 5 or if it's 7 years and how they determine when they remove the $50 charge. You also need to get a lot of documentation to them, but the purchase workshop appears to be designed to prepare you for the paperwork that you need to get together. And, you do need some money. While there are no closing costs you do have to have your prepaid items (insurance and taxes) and you'll need to pay for an inspection.
To summarize, I haven't found a "catch". It looks like a good program for anyone who is making a purchase up to $200,000. So, I'm going to try them out and see how it goes. Will keep you all posted. If you have had any experience with NACA -- positive or negative -- I'd love it if you would leave comments on my blog.
If you or anyone you know is looking to make a purchase up to $200,000 in the Baton Rouge area, let me know and I'll put you in touch with the right people to start moving toward your 4.875% loan with no money down. This looks like a good spot to advertise my new Google Voice number which is 225-341-BRLA (2752).
Well, I had a great vacation on the beach in Navarre, FL. It's clear that there are some areas of the country that are suffering due to a weak economy. In fact, I was able to get a much better price on a beach front condo for a week as a result of the soft national economy. But back home in Baton Rouge, LA the real estate market was hopping!
I left Linda with a great deal of work to handle. One of our sellers receieved two offers on his home for sale this past week. We are working on two closings for Monday and Tuesday. We have inspections for one of our buyer-clients on Monday. And we're talking to new buyers/sellers everyday. It's all proof that the real estate market in Baton Rouge is quite a healthy market.
For sellers who have their homes properly priced, there are plenty of buyers. For buyers with good credit there's plenty of lenders out there ready to lend. And for first time homebuyers there's still time to get a home before the first time home buyer tax credit of $8,000 expires (December 1, 2009 is the expiration date).
So, if you're wondering if now is a good time to move, it is! In fact, now is a great time to make that move. The market will probably cool down after school starts, but there is still some time left to strike while the iron is hot.
Happy House Hunting/Selling!
-Bridget
What great timing for the launch of our new blog. Today we had the ribbon cutting ceremony at the new Greater Baton Rouge Association of REALTORS board office. It's a great new building for facilitating the activities of the local association. There's an enormous classroom for our continuing education classes and wonderful computer room for technology classes.
In attendance were some of members of the Board of Directors along with local media from the Advocate and the Baton Rouge Business Report. And, we had a guest appearance from Stephen Moret. It's a great event with good food, music, and lot's mingling.
Coincidentally, we're also launching our new blog site today. Linda Fredericks and I will be the primary contributors to this site and we do hope that you will find it useful. Some of our blog entries will have market data about the Baton Rouge area. some will contain information for local real estate professionals, and some will have great tips for home buyers and sellers. We're open to suggestions as well, so if you would like to see us discuss a specific topic drop an email to Team@LindaFredericks.com and we will happily provide you with the information you seek! Feel free to visit us here at www.HomeAfterHomeBlog.com frequently to get the latest updates.
Now, to kick this off with some great information, I provided my very own market data chart in the media packets for the press that attended the ribbon cutting ceremony at the association office. I am providing you with that very same chart here as well. This chart shows the steady yet moderate appreciation the Baton Rouge market has experienced over the past 7 years. Check it out:
Hope to see you soon,
Bridget F
I am the designated broker and co-founder of Home After Home. I help buyers, sellers, and agents to succeed in achieving their goals.
Being someone who specializes in Buyer Agency, means that I am focused on helping the buyer obtain his/her goals. My team leader, Linda Fredericks, saw the need to create a team years ago. She felt that clients of Linda Fredericks & Team would recieve better, more efficient service if various real estate tasks were delegated amongst members of the team. This has worked remarkably well. Our clients love the high quality, high touch service they receive. In fact, our number one source of business is repeat business and referrals from past clients.
Our team is designed to function to the maximum value and efficiency for our clients. I am able to focus specifically on the needs of buyers, while my team leader, Linda Fredericks is able to focus on the needs of sellers. Additionally, we have an unlicensed assistant who helps to ensure that all details of a transaction are handled effectively and efficiently. This is a unique benefit to our clients which helps to take much of the stress out the of the moving process.
When buying a home there are different strategies to employ based on current market demands and conditions. Hiring an agent that is not only aware or current market conditions, but also knowledgable in the various strategies to employ is the number one method to help a buyer acquire the home they want, when they want it, and to negotiate the best deal possible. Our market has been through various rapid swings and changes since Hurricanes Katrina and Rita. Our team has been able to successfully navigate the tide changes in our market and negotiate for our clients to help them save the most money possible. And, we have been able to successfully win homes for our clients when competing against multiple offers in hot markets. We are also successful in helping our buyer and seller clients find their way through foreclosure and short sale processes.
"Your professionalism is outstanding. I have learned so much from your expertise, thoroughness, and great attention to details. Thank you so much." - Jose Evangelista
"After 3 transacations, you continue to do your job in a professional manner. I really appreciate you and all you do in your business. You go to the limits to represent me. I will keep coming back." - The Rodman Family
"I was so excited last night that I could not think straight! Now...the house is safer, and I got it below the appraised value." - Past Buyer Client "We felt so taken care of, that we would enthusiastically use your services again, just as we have for our past six real estate transactions. Will you come get your license in Texas for our next move?!" - Michael and Laura Bozeman "The Linda Fredericks Team is knowledgable, ethical, and provides a step above what is expected in service." - Joyce Aguiar "The entire Linda Fredericks Team was very tolerant, patient, and cooperative through all my demands, tyrades, and crises! Very impressive." - Felicia Hardey
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