Real Estate Blog for the Golden Isles of GA including St. Simons Island, Jekyll Island, Sea Island, and Brunswick, GA.

St. Simons Island, Georgia

Read our thoughts on real estate. As local REALTORS® and real estate investors, we believe there are many reasons to invest in real estate and in your lifestyle! Buyers and Sellers are encouraged to post any questions they may have on CMA's, home inspections, contracts, etc. We're here to help!

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Real Estate Blog for the Golden Isles of GA including St. Simons Island, Jekyll Island, Sea Island, and Brunswick, GA.

Make a Wish List and keep track of the properties you view

May. 22, 2009

Categorized in: Buyers' Information

Tagged with: buyers, loan qualification

Before you first venture into the hunt for your home, make a list of ten priorities you want it to possess and also a list of ten things you do not want. Use your list to score each property you see to keep everything in perspective when you are viewing numerous homes. Make notes as soon as possible after viewing while it is fresh in your mind’s eye to enable you to differentiate each home at a later date.

Don’t forget the difference between Skin and Bones. Bones are things you cannot change such as location, view, size of lot, school district and the floor plan, etc. Skin is simply cosmetic finishes such as carpet, paint colors and surface finishes. Don’t be misled by a seller’s decorating skills as those touches will not remain. Look at each home as though it were vacant and ready to receive your personal effects.

With reduced pricing and lots of inventory to choose from along with low interest rates, buyers are in a great position today. I would encourage you to speak to your mortgage broker and not only get pre-approved, but get qualified. This pre-qualification process will speed along any negotiations as well as give your offer more validity.

Give me a call and let’s get moving on finding that home for you!

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Landmark Housing Bill could start an Upswing!

Aug. 1, 2008

Categorized in: Buyers' Information

Tagged with: buyers, housing and economic recovery act, tax credit

The housing legislation known as the Housing and Economic Recovery Act of 2008 was signed into law by President Bush and contains several elements which should get home buyers back into the market, stop the decline in home prices and encourage consumer confidence.

In addition to changes in the Fannie Mae and Freddie Mac loan limits, the government will at least temporarily expand the line of credit to these agencies to permit the US Treasury to purchase equity in the companies through 2009.

Another terrific feature in the housing bill is a temporary $7,500 first-time home buyer tax credit for the purchase of any home. This credit can be used for homes purchased between April 9, 2008 and July 1, 2009. This tax credit should prove an important financial incentive for home buyers and help to generate housing demand.

If you would like to read more, the National Association of Builders has launched a new website with more information on this excellent opportunity for 1^st time home buyers:

www.federalhousingtaxcredit.com

If you or a family member or friend would qualify for this temporary tax credit, this is a great time to buy and benefit from this credit.

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The Credit Score Mystery

Jul. 24, 2008

Categorized in: General Information

Tagged with: buyers, credit scores, mortgages

Certainly a credit score is becoming increasingly more important today with credit availability tightening. Credit information doesn’t seem to be an “exact” science and depends a lot on who pulls it up, i.e., (auto dealer, bank, credit card company, etc.) But basically a score of at least 720 is needed to get a viable interest rate for a home mortgage in today’s market.

Many people are under the mistaken impression that credit scores are largely tied to your income, but that isn’t accurate. Your credit score is a number assigned to how well you have repaid your debts to indicate your creditworthiness for new debt. Certainly we need to take care with credit cards and not max out credit limits, but interestingly enough an individual with no credit cards is rated as a higher risk than someone who has a history of managing their credit cards responsibly. Your credit score can definitely be increased given some time and making your payments on time, every time. Your diligent handling of your current debts will pay off with better rates on future debts.

You can easily obtain a credit report from https://www.annualcreditreport.com and also go to http://www.myfico.com to read more information about your credit score and for tips and other resources available. I would encourage you to be apprised of where you stand and keep a watchful eye on the credit information others may have their eyes on when you apply for credit.

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Consider this a Friendly Nudge!

Jan. 18, 2008

Categorized in: General Information

Tagged with: buyers, inventory, pricing

Certainly I do not have a crystal ball or a prophet on staff, but do firmly believe that we have reached the “bottom” of the real estate pricing. If you have been holding back and waiting for the perfect time to purchase a home, don’t wait any longer. Allow me to repeat: “Take advantage of the price reductions and the abundance of wonderful inventory and do it NOW.” I feel I would be negligent if I did not communicate this to you as I feel very strongly that the best time to buy real estate is today.

Please contact me if you have any questions or need my assistance.

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Shop till you Drop for a Mortgage!

Nov. 5, 2007

Categorized in: General Information

Tagged with: buyers, mortgage, rates, southeast ga

Mortgage Loans purveyors have experienced a good bit of negative press recently. However, in our area we have so many competent and responsible lenders to choose from. Just yesterday, I was speaking by telephone with an individual who asked about internet mortgage lenders. My personal opinion on that topic is that a buyer is better served by developing a relationship with a local mortgage banker with a name, a face and a local phone number to call in case of questions or issues. It's a bad day when you get to the closing table and the HUD statement has charges you were unaware of and you cannot get a quick answer by telephone to resolve your questions.

To obtain the best interest rate we all need to shop for a mortgage much like we do for a car. For that vehicle which we probably keep under 5 years and is usually under a $40K sticker price we all comparison shop models. Certainly a home purchase and the financing procedure should require just as much care!

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