Monday, December 31, 2012

Resolutions

resolutions.jpgAfter spending the holidays with family and friends, this is a time of the year to start thinking about changes to make in our lives, both personal and in business. We wanted to share one of ours with you.

Our goal is to become your REALTOR® for life. We want you to think of us first when you need to buy or sell and that you’ll recommend us to your friends too. That kind of trust has to be earned and we’re committed to helping you be a better homeowner even when you’re not buying or selling.

The strategy is simple. A well-informed homeowner will make better decisions. We’ll periodically offer information through articles and social media on a wide variety of home-related topics like maintenance tips, tax law changes, financing suggestions, insurance, equity building strategies, and rental property investments.

Please contact us if you need a recommendation on a service provider. Our experience has built a list of reputable and reasonable contractors that you can rely upon. When you have any kind of home-related questions, I hope you’ll have the confidence to call us.

Happy New Year. We sincerely look forward to helping you or your friends.

Tuesday, December 18, 2012

Spotlight Listing: Move in ready and modern updates! 4504 Bond ~$204,900

356308_17_rThis classic 3 bedroom, 2 ½ bathroom brick ranch sits on a quiet Court and is move in ready with fabulous updates! Fresh paint, carpet, large windows, and skylights throughout home allow for plenty of natural sunlight lending to a bright and cheery feeling. Brand new kitchen with glazed maple cabinets, ceramic flooring, tile back splash and all new stainless appliances. The finished lower level has fresh paint and new carpet, a new windowed walk out door, egress windows, fireplace, laundry, ½ bath and work area. This home is a keeper.

Click Here for more information and pictures of 4504 Bond

This home is brought to you by Carol Park and she can be reached at 989-698-1100 x 120 or via email at Sold@CarolPark.com

Monday, December 17, 2012

Avoiding Unexpected Expenses

It's common for sellers to consider offering and buyers might find it an incentive, but a growing number of homeowners are purchasing the home warranties themselves to limit the unexpected expenses of repairs and replacements.protection.png

A home protection plan is a renewable service contract that covers the repair or replacement of many of the components in a home. Some homeowners especially like the convenience that it organizes a qualified service provider as well as the cost of the items.

There are a variety of companies that offer home warranties and the coverage may differ but the majority of things will include heating, air conditioning most built-in and some free-standing appliances, as well as other specific items. Additional specific coverage may be available for other things like pool and spa equipment.

Some investors are even placing this coverage on their rental properties to limit the amount of maintenance repairs during the year. It is a viable alternative to managing the financial risk and the stress dealing with unexpected expenses.

If you're interested in home warranties, I'll be happy to send you more information.

Wednesday, December 12, 2012

Supply Drive 2012! Help Us Pay It Forward

Once again, we are Paying it Forward at Park Place Homes. Our Annual collection for Shelterhouse and Caregiving Network is going on NOW through the end of the year. Please check out our website for our wishlist this year. All items are accepted, as usual. We are focusing on the day to day, not so glamorous items such as paper towels, gas cards, cleaning supplies, etc. These items are costly and cut into the same budget that feeds families, which is why we are asking for help in this area.

Click the Logo to see the Supply Wish Listsanta logo

Monday, December 10, 2012

Let Your Tenants Send Your Kids to College

Most people have lots of things to save for but not always enough discretionary income after the family essentials have been met.college.png

A relatively small investment in a rental home can control a good home that will easily rent, generate positive cash flows and pay for itself. The borrowed funds create leverage that earn a return on the total value of the home and not just the amount of cash you have invested.

The strategy is simple. Find a slightly below average priced home that will rent well. It will appeal to a larger group of people while it's rented and when it's ready to be sold.

Rent the home and maintain its condition over the years. As the loan amortizes and the value increases, the equity will grow. When your student is ready to start college, you'll actually have several options.

You can sell the property; pay the tax on the gain at the reduced capital gains rate and fund the education. Another option would be to refinance and take the proceeds to pay for the tuition. This would allow you to continue to own the asset but would free your equity and under current tax laws is a non-taxable event.

Regardless of whether you're trying to plan for your children's education or your own retirement, rental property offers many solid investment opportunities. Contact me if you want more information.

Friday, December 7, 2012

Spotlight Listing: 3311 Garland Price Reduced ~ $120,000

363415_7_rThis 3 bdrm 1.5 bath home has a lot to offer. The main level has a fireplace for the winter evenings, and beautiful hardwood flooring. It also has an open kitchen concept that leads right into the dining room. Another great quality is the full basement that has a large game room and workout area. There is plenty of room for entertaining. Let's not forget all the work done for you outside, with the brand new roof, sprinkler system, new lawn, poured walkways, new poured patio, and landscaping. Last but not least the brand new 12x18 storage shed.

Click Here for more information and pictures of 3311 Garland.

This home is brought to you by Tim Sodini and he can be reached at 989-698-1100 x 140 or via email at Timothy.Sodini@charter.net

Monday, December 3, 2012

FHA to Cost Borrowers More

FHA has announced a major change to its loan program which allows borrowers to cancel the mortgage insurance premium (MIP) when their unpaid balance reaches 78% of the original purchase price. While no specific date has been set for the change, sometime in 2013, new FHA loans will require the mortgage insurance for the life of the loan.fha.jpg

At existing rates, the monthly MIP on a $168,875 mortgage is $178.99 per month. Under the current rule with normal amortization, the MIP would no longer be required in 9 years and 9 months. However, under the new rule, it would last for the entire 30 year term.

They also announced that the annual MIP will also be increased from 1.25% to 1.35% at some point in the near future. HUD, the parent agency for FHA, is making the changes to restore the capital reserves of the program that are needed to fund failed loans.

People that can close a FHA loan before the change takes place will fall under the old rules for canceling MIP and the lower rates. Since no date was announced, it is not known exactly when the changes will take effect.

While this information will probably not make the evening news, it will have a big impact on borrowers planning to use an FHA loan. Please pass it on to anyone you know who might be considering purchasing or refinancing with a FHA loan.