Monday, February 25, 2008

NEW CONSTRUCTION...GOOD DEALS ??

I was listening to a real estate radio show and heard the host proceed to advise new construction as a very good deal. I agree with this particular host 90% of the time so I was waiting for the qualifier. . . it did not come. I had to write about this topic, new construction being an option for buyers looking for the "good deal".

It is true that with the building industry having inventory that is "sitting around" you are in the position of power as the buyer. Let's talk about this. If the development is over built and the builder is dropping prices, this means the values are dropping for those that purchased previously, when they thought it was the best time to buy the "good deal". So what to do? You need to ask more questions. How many units will be constructed? Are there more phases to the development? Are you buying one of the first 20 homes being constructed or are you buying one of the last 20? How long has the builder been at this project? What is the projected time of completion?...etc...etc.

As in all things a "good deal" is not always as simple as it may seem, that's how people get burnt. We at JB Realty Service have the experience to guide you through the new construction process to insure the best opportunity for that "REALLY good deal". For more information visit http://www.jbrealtyservice.com. You may contact me at: john@jbrealtyservice.com or call 215-721-6300.

Monday, February 18, 2008

LET'S TALK INTERNET INFO SITES

AH YES, THE INTERNET..what a wonderful tool. Remember, it's just that, a tool. Just like building a house requires more than a couple of tools, so does finding a house. Internet sites have to speak to many people at one time so they can not get very specific. Most information is offered in limited supplies to the public for various reasons. It needs to be presented in the context of your particular situation. An example would be the appraisal. This is a difficult and important part of a real estate transaction in order to acquire a value of the property for financing the loan and yet there are Internet sites that offer the public "values" just by entering an address. You may be able to get an approximate value by looking at the recent sales, this would work well in a town house development with dozens of houses. However, this approach would not work for a custom home with a water front view, new kitchen, and wet bar. Can you see what I mean? At JB REALTY SERVICE our broker is a licensed broker/appraiser. This has proven to be very valuable to our clients. For more information on anything else real estate visit http://www.jbrealtyservice.com. You may contact me at: john@jbrealtyservice.com or call 215-721-6300.

LETS TALK ABOUT FHA FINANCING

Just simply, more often than not, the best first time buyer program anywhere....FHA(federal housing administration)...FHA loans are backed by the federal government.since the fed is involved they get to have some say on the standards the lender can use to approve a loan.In many cases buyers will be approved for financing thru an FHA loan that would not qualify for conventional loans.the FHA LOANS ARE TYPICALLY MORE FORGIVING..suce as the credit score is not so strict..you typically need less down payment..some of the buyers funds needed for the purchase can come from a gift..the seller can contribute up to 6% towards the buyers closing cost..the buyer may have just started a new job..YOU CAN HAVE OWNED A HOME BEFORE..in most cases you are condidered a first time buyer if you have not purchased a home in the last 3 years and do not currently have an fha mortgage that is not going to be paid with the sale of your house..most properties in reasonable condition will be approved for FHA financing, and much more....THESE ARE NOT SUB PRIME LOANS...If your lender does not take the time to explain FHA choices to you or does not offer FHA as a product we at JB REALTY SERVICE. will be glad to assist you. For more information visit http://www.jbrealtyservice.com. You may contact me at: john@jbrealtyservice.com or call 215-721-6300.

Monday, February 11, 2008

LETS TALK FORCLOSURE

**Well where to start. Unless you have been on a secluded island for the last year or so, I'm sure you are aware of some of these terms. Subprime, ARMS (adjustable rate mortgages), bad credit score loans, no income verification loans... you get the idea. If you or anyone you know suspects or is not sure they have one of these types of loans.call 215-721-6300 or contact us at john@jbrealtyservice.com We will evaluate the loan for FREE and advise you of the best course of action.If you already have been issued papers from your mortgage company.. YOU MUST ANSWER THEM ASAP ..contact an attorney or contact us NOW. This is where the term SHORT SALE applies. A short sale is when we work with your lender to allow us to sell your house for less than what you owe. How this helps you is we save you from foreclosure. This saves your credit. In many cases you can buy again in 2 years.. Other options are payment plans that allow you to keep your home.. This can usually be done without bankruptcy. You must take ACTION NOW. Remember the only dumb question is the one you were going to ask but didn't. For more information visit http://www.jbrealtyservice.com. You may contact me at: john@jbrealtyservice.com or call 215-721-6300.

Sunday, February 10, 2008

LETS TALK ABOUT PAYING OFF DEBT

**While paying off debt in it self is a good thing, more important is how and when you eliminate your debt. The object should be to make the payments in a way that it has the MOST positive impact on your credit. The objective being to raise the credit score which in turn will impact the types of mortgages that are available to you. In some cases this may afford a better interest rate.In other cases it could make the difference between getting a mortgage or not. At JB REALTY SERVICE we take the time to review your credit report well in advance of the client actually finding a property. We also work directly with the lender to insure not just the best rate but also the best type of loan for each situation.visit http://www.JBREALTYSERVICE.COM or call us at 215-721-6300 ..As each clients situation is unique we offer a private, no obligation, FREE consultation. You can also e-mail me at john@jbrealtyservice.com remember the only dumb question is the one you wanted to ask but didn't.

Friday, February 8, 2008

MORE DETAILS THIS WEEK

* REALTORS DONT WANT YOU TO GO TO NEW CONSTRUTION SITES WITHOUT THEM BECAUSE THEY WONT GET PAID

* I CAN GET THE SAME INFO ABOUT HOUSES A REALTOR CAN BY GOING ON THE WEB

* PAYING OFF ALL MY DEBT IS THE BEST THING TO DO BEFORE I TALK WITH A REALTOR OR MORTGAGE LENDER TO SEE IF I CAN GET A LOAN TO BUY A HOUSE

* IF MY HOUSE IS AREADY IN FORCLOSURE ITS TOO LATE FOR A REALTOR TO HELP

* THE SPRING MARKET STARTS IN APRIL AND THIS IS THE BEST TIME TO BUY OR SELL A HOUSE

* I OWNED A HOME BEFORE SO I AM NOT A FIRST TIME BUYER

* FHA LOANS HAVE HIGHER INTEREST RATES AND ARE NOT GOOD FOR BUYERS

* FHA AND VA MAKES SELLERS FIX THEIR HOMES AND IS BAD FOR SELLERS

* WHEN I HEAR ON TV THE "FED LOWERS INTEREST RATES"THIS MEANS MORTGAGE RATES GO DOWN

* I CAN DO WHAT A REALTOR CAN DO WITH THE HELP OF AN ATTORNEY

For more information visit http://www.jbrealtyservice.com. You may contact me at: john@jbrealtyservice.com or call 215-721-6300.

Thursday, February 7, 2008

REALTOR Reputation

Pennsylvanians say they choose a REALTOR® based on reputation and 86 percent of those homebuyers purchased their home through a REALTOR®, according to a new NAR survey.

The 2007 Profile of Homebuyers and Sellers Pennsylvania Report describes the critical role that real estate professionals play in the real estate market and provides insight into the needs and expectations of clients. You can access the report on the PAR web site at: http://www.parealtor.org/content/2007_profile_homebuyers_sellers.htm

To learn more about our own real estate services, visit: http://www.jbrealtyservice.com