Wednesday, October 8, 2014

Follow this link for an informative story future home buyers and home sellers need to know! From ABC news

https://video.search.yahoo.com/video/play?p=tips+on+getting+listings&vid=000129275187&l=2%3A48&turl=http%3A%2F%2Fd3.yimg.com%2Fsr%2Fvideo%2Fthm-300x300%2F0a619bbe-f8eb-3f5a-9f7f-baa9c204fb66&rurl=http%3A%2F%2Fnews.yahoo.com%2Fvideo%2Ffinding-secret-dream-home-014311614.html&tit=ABC+News+%3A+Finding+Your+Secret+Dream+Home&c=1&sigr=124qtj4n2&sigt=119ckba8p&ct=p&mid=916db55a25bbd09c&pid=0a619bbe-f8eb-3f5a-9f7f-baa9c204fb66&age=1369432338&fr=ymyy-t-999&tt=o&mid=916db55a25bbd09c&sr=pr

Monday, September 29, 2014

Latest Real Estate News

                               

                                   Breaking News!


          FHA to ban lenders from charging extra interest payments on mortgages! Home owners have had to pay interest on their mortgages after they have been paid off for the last decade! Well no more! 

           
           A pilot program is helping low income borrowers get a 15 year home loan! Ed Pinto at American Enterprise Institute has teamed up with Bruce Marks who leads Neighborhood Assistance Corp. of America has come up with a viable mortgage for low to moderate income borrowers to build wealth by buying a home. Since the loan is a 15 year then it  is more likely to hold value. The payoff and equity build faster, with a crazy low interest rate of 1- 2%! This program calls for a max debt to income ratio of 41%. This pilot program is initially offered nationwide through 37 NACA offices.

https://www.naca.com/          
529 Beacon Pkwy W, Birmingham, AL 35209
(205) 942-8111

Friday, September 19, 2014


           
               I have spent the last few weeks viewing older and historic homes for sale in Birmingham,
what an experience! The thing I took away from it is that older homes don't mean that their will be lots of renovation needed, sometimes it will, but the charm of older homes is something that you will not find in new homes, if you did add all the wood to do built in's and all the molding, not to mention the original lighting then it would be very expensive. These homes have a story from every family it has sheltered within it's walls. The neighborhoods have a great ambiance to them as well, usually with in walking distance to parks and restaurants!

               The new construction is and will be on the rise over the next 2-3 years. Everyone loves new homes but be one the cautious side, new doesn't mean the new crews hired and just getting back into the swing won't make mistakes. I support all builders building in this area and I wish them lots of success, as an agent that must work for the buyers best interest it is my duty to get the best house I can for their budget so they may to be sheltered with in those walls without worry.

                 If you find the location you want to live in just know that lots of others will want to do the same and a move in ready house will be fought over. If you find a house that needs updateing, please dont pass it over! You can get a renovation loan and have it fixed up BEFORE you move in and not pay that first house payment untill you do. It can be done!

                  For more information about renovation loans please email or call me!

majones@realtysouth.com or 205-616-0119



Tuesday, June 24, 2014

What Are FHA Appraisers Looking For?

Appraisals for a home determine the value for your loan but FHA appraisals review the condition and if it meets the guidelines for the approval of FHA insured loans.

Home buyers who qualify for an FHA loan must have the home inspected by an approved FHA inspector.

The inspector will inspect for overall condition and any visable damage and inform all parties of any required repairs.

A home built before 1978 must have no peeling or chipping paint. If it does then the home owner must repair and repaint the area to insure if lead based paint is present that it is safely covered. (Interior and exterior)

FHA appraisers will also check for any safety hazards such as lose railings.

FHA appraisers will also look for pest infestation and the plumbing must be in working order

Wednesday, April 30, 2014

FIRST STEPS IN PREPARING TO BUY A HOME

   I have had a lot of questions concerning credit and the home purchase process. I hope this will help.

Credit score is not the ONLY consideration by mortgage lenders, other factors such as the amount of savings you have and your income help in your appeal to lenders

Preparation: Documents to have at the ready include your credit report, most recent pay stubs, bank statements, tax returns and W-2s, a financial worksheets summarizing all monthly expenses, utilities, car payments, insurance and rent; as well as a summary of all your assets and liabilities

Credit Score: Credit score are affected by your payment history, outstanding debt balances, new credit lines opened, length of your credit history and types of credit used. The calculation of your credit score is heavily weighted against your payment history and outstanding debts owed, about 65%!

You must have a credit score of at least 760 to qualify for the lowest rate available.  A credit score between 660-759, you can still get attractive interest rates that are just a few points/percent higher. If your score is below 580, The rate increases at least four percentage points.

These are the first things you must have under your belt before you call an agent and start looking for your future nest. This being said don't ever give up and think you can't own a home of your own, establish what's holding you back and make a plan to tear away those obstacles!
majones@realtysouth.com

Wednesday, April 9, 2014

Fun Things To Do This April 2014!


Birmingham Botanical Gardens 
04/07/14 
Birmingham Botanical Gardens, Birmingham 
Birmingham Zoo 
04/12/14 
Birmingham Zoo, Birmingham 

04/12/14 
Railroad Park, Birmingham 
Color Me Rad 5K 
04/12/14 
Hoover Metropolitan Stadium, Hoover  
Birmingham Museum of Art 
04/12/14 
Birmingham Museum of Art, Birmingham 
Birmingham Botanical Gardens 
04/10/14 - 04/13/14  
Former JC Penny's at Century Plaza, Birmingham 
Alabama Theatre 
04/16/14 
Alabama Theatre, Birmingham 
McWane Science Center 
04/19/14 
McWane Science Center, Birmingham 
Birmingham Botanical Gardens 
04/26/14 
Birmingham Botanical Gardens, Birmingham 
City of Birmingham 
04/05/14 - 04/26/14  
Birmingham Civil Rights Institute, Birmingham 
PALS of the Vestavia Hills Library in the Forest 
04/26/14 
Vestavia Hills Library in the Forest, Vestavia Hills 
Birmingham Fashion Week 
04/19/14 - 04/26/14  
Pepper Place, Birmingham 
Foundation for Art and Cultural Connections 
04/26/14 - 04/27/14  
Linn Park, Birmingham 
Foundation for Art and Cultural Connections 
04/25/14 - 04/27/14  
Linn Park, Birmingham 
Barber Motorsports Park 
04/25/14 - 04/27/14  
Barber Motorsports Park, Leeds 
Alabama Museum of the Health Sciences 
03/13/14 - 05/15/14  
The Edge of Chaos, Birmingham 
Ruffner Mountain Nature Preserve 
03/21/14 - 05/16/14  
Ruffner Mountain Nature Center, Birmingham 
Pepper Place Saturday Market 
04/12/14 - 12/20/14 
Pepper Place, Birmingham