Norfolk, VA

Sitting on the fence wondering if you should buy a home. Take the Leap of faith. With interest rates starting at 3.75% and up and the best inventory in years it would be ashame to let the opportunity slip by you.

First - Leap into getting pre-approved- through a reputable lender that will supply you with a copy of your tri-merge credit report. Be sure to address any errors, problems, or discrepancies up front.

Second - Decide on your needs vs wants and develop your search criteria (bedrooms, baths, amenities, etc...). This may include creating a reasonable well thought out budget for your new home payment (PITI- principal, interest, taxes, and insurance) and try paying yourself that payment for a few months to see if you can handle it. Do not forget to budget for maintenance and unexpected repairs.

Third - CONTACT ME and lets go house shopping!!!!

VA Realtors have a new tool they can use to check for FHA approved condo complexes.

VAREALTOR.com/condocheck enter zip code or city state and get your answers

In May 2011 every condo complex was de certified and forced to reapply for FHA condo certification status. We are finding most became re-certified but a few have not. What ever the reason according to the Virginia Association of Realtors, "the end result is that buyers who want a unit in the un-certified condos are ineligible for FHA financing-something many seller don't discover until late in the process when they learn that their pool of prospective buyers has shrunk considerably....and because the certification process can take months deals fall through. "

Buyers if you are planning to use FHA financing have your agent check the status of the complexes you want to view preferably before your first initial visit.

For a condo to meet FHA loan guidelines it must:

At least 50% of the units must be owner occupied

Have specific Insurance coverage

No more than 25% of the property's total floor area can be used for commercial purposes ( so mixed used developments will not usually qualify)

No more than 10% of units can be owned by more than 1 person or entity.

No more than 30% can be financed by FHA

No more than 15% of the total units can be delinquent on their dues more than 30 days past due.

At least 50% of unit in complex sold. (Can not have more than 50% vacancy)

Must maintain a budget with sufficient funds for maintainace of the common areas and required condo project.

If you are interested in buying a condo, condo complex or single family home zoned condo in Hampton Roads then contact me.

Qualities of a Short Sale Seller especially in Hampton Roads Areas

STOP MONKEY-ING AROUND AND GET THAT HOME SOLD ALREADY!!!

You Must be 110% Motivated!

Dedicated to the process!

Must be Cooperative and Compliant with banks demands!

Must be ready to sell and redy to move!

Willing to use Dee Dee Jones to list your home!

If your hanging on to your home by a limb.  Call me today and lets discuss a Short Sale!!

5 Reasons To Be Thankful Today!

1. Low interest rates Nationally

2. Great inventory in Hampton Roads Cities

In honor of Movember- Move in November!

I hope you all have a wonderful Thanksgiving!

Even with falling debt and fewer late payments the average credit score for Norfolk consumers by by one point. It went from 741 to 740. It may not sound like much but in Experians latest "State of Credit" Norfolk fell eight places. This report is put out yearly by Experian a major credit reporting company. Their credit score is called VantageScore and is similar to the more widely known FICO scoring system.

Your credit score is important because the higher it is the less banks will ask for additional documentation. In addition you can qualify for better terms with some credit extending places, especially when purchasing a new or used car or even a new home for your family.

Several ways to increase your score are to make sure you make all your payments on time, every time. Your utilization rate: your balance compared to your credit limit. There are many other factors as well but those are the ones that will affect the scores the most.

With these type credit scores a Norfolk resident should be able to purchase a home for themselves or possibly get into a investment opportunity. Call me for details.