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BUY THIS HOME NOW MORE INFORMATION HERE.Welcome Home to this spacious 3 bedroom 2 bath INVENTORY home offering a 2 car garage. Open great room, dining & kitchen area provides a perfect combo for all your entertaining needs. Not ready to move? Builder offering 10,000 in free options now. SPECIAL FINANCING OPTIONAL.. GREAT PROGRAM, SPECIAL CONDITIONS APPLY. NOT CREDIT SCORE DRIVEN. FOR MORE DETAILS CALL LISTING AGENT . Learn more information on this exciting complex and find out about the different floor plans that are available for IMMEDIATE move-in. Call today at 636 544-2288 314 779-6321 for a private showing. |
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WANT TO BUY THIS HOME CLICK HERE MORE INFORMATION.Ready to go - Just adding the final touches. Just in time for the holidays! This 3 bedroom, 2 bath ranch home with a 2 car garage offers, a level lot, enclosed soffitt & fascia, R38 ceiling insulation,vaulted great room, dining and kitchen. . Learn more information on this exciting HOME and find out about the different floor plans that are available for IMMEDIATE move-in. Call today at 636 544-2288 OR 314 779-6321 for a private showing. |
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5 First Time Home Buyer Tips
Whether you have spent years saving and preparing to buy a home or you still aren't sure if it is something you can even dream of, the questions surrounding a first-time home purchase can feel endless. Here are some tips to help you with the process of becoming your own landlord:
1. Pre-qualify for a loan
Being pre-qualified for a loan determines how much house you can afford. It also allows you to move more swiftly when you find the right house, especially when you aren't the only interested buyer.
2. Shop for mortgage rates and terms
A difference of even half a percentage point can make a huge difference in how much you pay over the life of a loan. For example, the difference in the monthly payment on a $100,000 mortgage at 8 percent vs. 7.5 percent is about $35 per month. Over 30 years, that's $12,600.
3. Use a buyer agent
A buyer agent is legally responsible for representing the buyer's interest in a real estate transaction. Generally, the buyer agent is compensated by the seller at the time you purchase a new home. There are some limitations to using a buyer agent, however. Before you decide, have a Realtor explain the advantages and disadvantages of using a buyer agent.
4. Determine features that help or hurt resale value
In some areas, a swimming pool actually detracts from a home's value and makes the home harder to sell. In neighborhoods with two-car, attached garages, a single-car or detached garage may impact the home sale and future value. Your Realtor can point out features that hurt, as well as those that help, resale value.
5. Rate the houses you tour
After touring each home, write down what you liked and didn't like. Develop a rating system which will help you narrow the field down to the house that's the best for you. Whether you have spent years saving and preparing to buy a home, or you still aren't sure if it is something you can even dream of, the questions surrounding a first-time home purchase can feel endless. Here are some tips to help you with the process of becoming your own landlord. Ask us for a home comparison guide to make this process a lot easier.
To: MAR Legislative Report List
From: Samuel G. Licklider
Subj: Legislative Report
Date: March 9, 2010
Important notice:
The Missouri Housing Development Commission (MHDC) at the end of 2009 rolled out an innovative program to help Missouri families buy a house. Styled the "HOPE" program-that stands for Home Ownership Purchase Enhancement-it uses a allocation of $15,000,000 to create an incentive equal to up to $1,250 for the 2009 property tax bill plus an additional $500 toward increased energy efficiency. That test can be met by doing some remodeling or even purchasing an Energy Star® appliance. The MHDC website has complete information on the program and can be reached at http://www.mhdc.com/homes/HOPE/index.htm
Fund Sweep:
On Wednesday, March 3 SB 1000 was heard before the Senate Appropriations Committee, somewhat unusual since typically Appropriations deals with, logically, the Appropriations bills and SB 1000 is a revenue bill. Actually it's a revenue grab bill, the revenue it is looking for is already collected it's just in a different account and SB 1000 proposes to move the selected revenue into the General Revenue account. For the most part the accounts affected are those in Professional Registration-interestingly the Missouri Real Estate Commission fund is not one of those targeted initially but, a study completed by some of the Appropriations staff included a line item taking a little over $2,000,000 out of the Real Estate Commission Fund. There didn't appear to be a great deal of interest in moving the bill, except from Senator Joan Bray who kept asking witnesses why they didn't support the move. Why is the bill a bad idea, the money in the several Professional Registration accounts was collected from licensees as a means to pay for services to licensees if these funds are used as general revenue funds that amounts to a tax increase on a limited number of people. If this continues we could see raids on funds followed by an increase in license fees to make up the shortfall.
License Law:
HB 1692 et al, has been set on the House Calendar. This bill contains the changes in the statute that broaden the business organizations that real estate licensees may use and the changes in the statute that clarify the exemption from unemployment compensation tax the real estate agents enjoy-you may recall that this is needed because of an awkward and fundamentally incorrect ruling by an administrative law judge. In addition the bill contains a number of other issues.
AMC:
HB 2152, the appraisal management company registration legislation has been assigned to the House Committee on Financial Institutions. It took a little discussion to get it there but it finally happened. We hope for a reasonably quick hearing on this important legislation.
Fair Tax:
The Senate took up Senator Chuck Purgeson's "Fair Tax" bill on Thursday, March 4th, with the legislative break staring them in the face the attention of the Senate was somewhat restrained but this gave Senator Purgeson an opportunity to discuss his bill and allow the members to think about the implications over the break-also gave them lots of time to draft amendments!!
Tax Credits:
There is still intense pressure on the whole issue of tax credits, the capitol rumor mill is working overtime coming up with interesting and implausible ideas supposedly floated by the administration. I know a lot of people in the administration, none of them would come up with the stupid ideas that the rumor mill proposes.
A tracking list is attached, the link should direct you to the state site, if they don't let me know.
It is unlikely that there will be a report next week since the Assembly is on break.
HUD TAKES ACTION TO SPEED RESALE OF FORECLOSED PROPERTIES TO NEW OWNERS
Measure to help bring stability to home values and accelerate sale of vacant properties
WASHINGTON - In an effort to stabilize home values and improve conditions in communities where foreclosure activity is high, HUD Secretary Shaun Donovan today announced a temporary policy that will expand access to FHA mortgage insurance and allow for the quick resale of foreclosed properties. "As a result of the tightened credit market, FHA-insured mortgage financing is often the only means of financing available to potential homebuyers," said Donovan. "FHA has an unprecedented opportunity to fulfill its mission by helping many homebuyers find affordable housing while contributing to neighborhood stabilization."
With certain exceptions, FHA currently prohibits insuring a mortgage on a home owned by the seller for less than 90 days. This temporary waiver will give FHA borrowers access to a broader array of recently foreclosed properties.
"This change in policy is temporary and will have very strict conditions and guidelines to assure that predatory practices are not allowed," Donovan said.
In today's market, FHA research finds that acquiring, rehabilitating and the reselling these properties to prospective homeowners often takes less than 90 days. Prohibiting the use of FHA mortgage insurance for a subsequent resale within 90 days of acquisition adversely impacts the willingness of sellers to allow contracts from potential FHA buyers because they must consider holding costs and the risk of vandalism associated with allowing a property to sit vacant over a 90-day period of time.
The policy change will permit buyers to use FHA-insured financing to purchase HUD-owned properties, bank-owned properties, or properties resold through private sales. This will allow homes to resell as quickly as possible, helping to stabilize real estate prices and to revitalize neighborhoods and communities.
"FHA borrowers, because of the restrictions we are now lifting, have often been shut out from buying affordable properties," said FHA Commissioner David H. Stevens. "This action will enable our borrowers, especially first-time buyers, to take advantage of this opportunity."
The waiver will take effect on February 1, 2010 and is effective for one year, unless otherwise extended or withdrawn by the FHA Commissioner. To protect FHA borrowers against predatory practices of "flipping" where properties are quickly resold at inflated prices to unsuspecting borrowers, this waiver is limited to those sales meeting the following general conditions:
Subject: $35 million economic development package passed at MHDC
As Chair of the Missouri Housing Development Commission, I am
very excited to announce that moments ago we passed a $35
million economic development initiative. This initiative, first
unveiled by Governor Jay Nixon and myself on November 24, will
provide property tax relief to thousands of qualified middle-
and low-income Missouri homebuyers, create and protect
potentially thousands of good-paying jobs and help improve
energy-efficiency in Missouri housing.
The $35 million package was approved at today's MHDC meeting,
which was webcast live for the first time ever in an effort to
bring increased transparency to the housing agency. The package
provides:
1. $15 million to pay the first year of property taxes for
qualified homebuyers who purchase a new or existing home after
January 1, 2010. This has the opportunity to help between 9,000
and 11,000 Missouri families making less than $100,000 a year.
2. $15 million to finance and begin construction on affordable
multi-family housing. This will create and save thousands of
jobs at a time when Missouri unemployment is over 9% and allow
us to continue to make quality affordable housing available to
all Missourians.
3. $5 million in assistance to qualified homebuyers to help
with down payments and closing costs. This helps potential
homebuyers overcome the obstacle of coming up with enough cash
for a down payment and closing costs. MHDC has been a national
leader on this front.
4. Additional assistance to homebuyers who purchase an
energy-efficient home or purchase energy-saving appliances. This
is an opportunity to raise energy-efficiency standards in
Missouri, making a positive impact on both the economy and the
environment. It's a win-win.
This economic development package provides property tax relief
to thousands of Missourians at a crucial time in our economy
without spending Missouri tax dollars. This will be paid for
entirely out of MHDC's reserve fund and federal recovery funds
already in our possession. This comes in addition to more than
$100 million in recovery funds and more than $19 million in
reserves already allocated to boost Missouri's economy and put
Missourians back to work.
My goal as Chair is to ensure MHDC is playing a pivotal role in
Missouri's economic recovery and I believe we are doing that.
The agency already offers competitive interest rates on home
loans for qualified borrowers and a cash assistance loan plan
for first-time homebuyers to help with down payments and closing
costs. MHDC has also been a national leader in allowing
Missourians to use the $8,000 federal first-time homebuyer tax
credit up front for a down payment or closing costs. This
program has been a success and will continue until at least
April of 2010.
At a time when economic resources are scarce, it is important
for you to know that I am constantly looking for new and
innovative ways to get our economy moving again as well as ways
to better marshal the tools and resources that are available.
One of those tools is the Missouri Linked Deposit Program, which
provides low-interest loans to qualified small businesses and
family farms. On November 23, I announced the largest-ever small
business loan issued through the program. A small agricultural
company in Marshall qualified for a $3.4 million loan, which
will save the business more than $300,000 over five years
compared to the cost of a regular loan. In addition, the loan
will allow the company to add jobs and expand its customer base.
Thanks to changes made earlier this year to the Missouri Linked
Deposit Program through my Invest in Missouri legislation, I am
able to issue these kinds of loans to more small businesses with
less turnaround time, allowing them to receive much-needed
capital quickly.
Again, this costs Missouri taxpayers nothing. The Missouri
Linked Deposit Program allows us to invest right here in
Missouri to help small businesses that need it the most and who
are playing a pivotal role in our economic recovery.
We have about $200 million in loans already out to small
business throughout Missouri and we still have another $520
million available. To find out more about the Missouri Linked
Deposit Program, click
here(http://www.treasurer.mo.gov/LinkedDeposit.asp).
As always, thank you for your interest and feel free to contact
me with any ideas, feedback, or questions at
clint@clintformissouri.com or 314-645-0555.
Regards,
Clint Zweifel
Missouri State Treasurer
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