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Painting Your Own Home: Tips to Make the Process Painless
Painting Your Own Home: Tips to Make the Process Painless
While it’s might seem easier to hire professionals to paint the house, but with a little research you can find the job is not as intimidating as it seems. With a few free days set aside and some preparation, painting one room (or multiple) is easily doable for anyone. Here are a few things to consider before you start.
Apply a Primer Coat
Preparation entails most of the painting process. It’s easy to become frustrated during the preparation stage, because prepping to paint can take longer than the actual painting component of the project.
Interior walls aren’t always perfect, and painting the walls is a perfect opportunity to fix those imperfections. If you’re using a putty or a filler to patch holes, the paint will react differently to those substances than it will the wall itself. The solution here is to prime your walls, so the new paint color has a uniform surface to adhere to. It’s one simple step that doesn’t seem like much, but could end up saving you a whole lot of work at the end of the process.
Factor in taping time
Taping up the room is tedious work, but will be worth it when you don’t have to waste time being ultra-careful or nervous when getting close to edges. Instead of trying to take the tape off while the paint is still dry, wait at least 24 hours for the paint to dry, and use a knife to slice the tape off at the edge. If the paint is still even a little wet or gummy, don’t continue. Make sure the knife is sharp enough and pull the tape away at a 45-degree angle, making sure not to rip the paint.
Set up with clean-up in mind
To protect floors, a drop cloth is a necessity. In some cases, cotton or canvas drop clothes can work better than plastic. Plastic drop cloths can be slippery and don’t easily stay in place, especially when ladders are involved. Any splatters or drips of paint that fall onto a plastic drop cloth won’t dry or absorb right away and can be easily tracked throughout the rest of your house. A canvas or cotton drop cloth will be more stable and will protect the floors better. Tape the edges of the drop cloth to the tops of the trim to protect both the floor and the trims from any splattering or dripping paint.
Work top down
Not only does it prevent drips from ruining anything you’ve already painted, but it keeps the walls and baseboards free of any dust or debris from sticking to wet trim. Paint the ceiling first, move to the walls and possible crown moldings. Only then should you move to any trims around windows or doors and finish with the baseboards. Not only will this keep a system in place to ensure there’s no questioning what’s been painted and what hasn’t, but it’ll keep things clean.
Check thickness of previous paint layers
Cracks on an exterior paint job don’t reflect the owner’s best intentions and should be fixed before the damage is too much to fix. Too thick of a layer of paint means that the paint might just be too heavy to stay, and will start to crack and to peel off. It loses its grip and can’t attach to the other layers of paint. In older homes, it’s likely that some of those layers of paint have lead in them, in which case you’ll need to look into how to remove it safely. The EPA has guidelines here. This could be the one step that requires you to outsource, if the layer of paint is extremely thick, because removing it completely (and correctly) will ensure the next coat of paint will attach correctly. Hiring a home washing company can help you identify these cracks in exterior paint as well. If anything, have the exterior of your home professionally power washed, so the paint will have a clean surface to adhere to.
Using these tips, ideally the house-painting process will be doable for anyone. Prepare yourself to set aside time for set-up, knowing that it will help when you’re done painting and ready to clean up. Instead of hiring painting professionals, save some money for decorating and tackle the job yourself.
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Bio: Matt Lawler is an Internet marketing specialist from Tempe, Arizona where he attended Arizona State University. Whenever he can step away from the computer, Matt enjoys playing sports, traveling and exploring the great outdoors. Follow him on Twitter.
Laura Key, REALTOR® Cal BRE 01908085 310-866-8422 Laura.A.Key@gmail.com www.KeyCaliforniaHomes.com
10 Most Desirable Do-it-Yourself Outdoor Projects
Increasing the value of your home does not have to mean it's costly! Call me today for free Home Checkup! Laura Key 310.866.8422
The warmer weather has home owners looking to spruce up their home’s outdoor spaces. So when it comes to do-it-yourself outdoor projects, which projects are most home owners tackling?
A survey of more than 1,200 home owners by the Home Project Council identified the following DIY outdoor projects as most desirable:
1. Plant a garden
2. Use decorative pebbles, stones or rocks for landscaping
3. Build a deck
4. Create a fire pit or barbecue pit
5. Build a patio or walkway using concrete pavers or bricks
6. Install or build a shed or storage building
7. Stain or paint siding or windows
8. Build a privacy fence
9. Stain or paint exterior concrete surfaces (patio, pool deck, driveway, sidewalk, etc.)
10. Repair or seal concrete cracks in patios, steps, or driveways
Home owners identified the most difficult or intimidating DIY outdoor projects as being building an outdoor kitchen and pouring concrete slabs for patios, steps, or sidewalks, or building a deck, according to the survey.
Source: Melissa Dittmann Tracey, REALTOR(R) Magazine
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Sellers Jack Up Price After Offer is Accepted
Until a contract is SIGNED it is not accepted! Be very careful when "words" or a simple "handshake" is used! It might come back to haunt you! Laura Key 310.866.8422
Some home sellers are accepting a buyer’s offer, even having a contract drawn up, only to ask for a higher price a few days later.
The move called “goalpost-shifting” is becoming more common in competitive markets with limited inventories of homes for sale, The New York Times reports. Some sellers keep the bidding on their homes going even after they’ve said they'll accept an offer from a buyer.
The New York Times describes a recent incident where a buyer offered $912,000 for a condo that was originally listed for $800,000, which had attracted more than a dozen offers. The seller accepted the buyer’s offer and a contract was written. However, a few days later the seller notified the buyer that the price had increased to $995,000. The buyer refused to increase his offer, and lost out on the unit. The seller ended up selling to another buyer who offered $1.1 million.
The practice is controversial, but The New York Times quotes brokers who note that buyers are learning a tough lesson: Until signatures are on a contract, a deal isn’t done. Also, they note the buyer is generally given the opportunity to increase their offer. However, other agents say it’s a greedy move on sellers’ part and that once sellers give their word, they should honor it.
“It’s surprising how ugly it’s getting,” says Robert Frankel, a real estate lawyer who frequently handles closings. “If you don’t hear back about a contract in two days, there are usually some shenanigans going on.”
Source: DAILY REAL ESTATE NEWS | MONDAY, JULY 22, 2013
The Real Estate World is moving and shaking, make sure you have an expert to help you during these times. Call Laura today! 310.866.8422
New House - New Yard - Got Plans?
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Where Asking Prices Are Rising the Most
California is rising fast, yet it's not at the highest it's ever been. Interested in buying or selling! Let me assist you in reaching your real estate goals! Laura Key 310.866.8422
Median list prices in May edged up 2.10 percent month-over-month, as housing inventories also were on the rise, creating a greater balance between supply and demand, according to realtor.com’s latest Real Estate Health Report.
The nationwide median list price was $199,000 for May, and up 4.79 percent year-over-year.
"We are seeing large regional markets across the country leading the way to national recovery. These regions are acting as a microcosm for what's slowly happening in the larger real estate market," says Steve Berkowitz, chief executive officer of Move. "Overall, we're seeing seller confidence beginning to respond to consumer demand. Nationally, there are more homes going on the market for a shorter amount of time. And this is happening in our hot markets on a much larger scale."
California housing markets are seeing some of the highest median price gains. The following 10 markets have seen the highest year-over-year list price gains:
1. Sacramento, Calif.: up 42.45%
- Median list price: $284,900
2. Oakland, Calif.: up 38.27%
- Median list price: $495,000
3. Detroit, Mich.: up 31.73%
- Median list price: $125,000
4. San Jose, Calif.: up 30.58%
- Median list price: $679,000
5. Los Angeles-Long Beach, Calif.: up 27.80%
- Median list price: $428,000
6. Fresno, Calif.: up 27.48%
- Median list price: $219,900
7. Phoenix-Mesa, Ariz.: up 27.03%
- Median list price: $235,000
8. Stockton-Lodi, Calif.: up 25.63%
- Median list price: $199,750
9. Reno, Nev.: up 24.23%
- Median list price: $235,900
10. Santa Barbara-Santa Maria-Lompoc, Calif.: up 24%
- Median list price: $775,000
Source: realtor.com®
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Rare Opportunity to Buy by the Beach!
What a wonderful opportunity to live your dream of living by the beach! Redondo Beach to be exact! Call me for a scheduled showing! Laura Key 310.866.8422
630 The Village Unit 110 Redondo Beach, CA
$385,000
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Appraised Value: The Ups & Downs Of How Much A House Is Worth
How is the fair market value of a real estate property actually determined?
Determining Fair Market Value is an eternal struggle and major balancing act. That’s because buyers want a house to appraise on the low side—to keep the purchase price down. While sellers want the same house to appraise on the high side—to make the sale price higher. And then you’ve got the owners of the house—who also want the appraisal to be on the low side, in order to keep the property taxes down.
So with all these different agendas and points of view, how is the fair market value of a real estate property actually determined?
Once a year, your county sends all area homeowners official notices that put a dollar value on their property. And property taxes are based on those dollar values. But before those notices get sent out, a long, detailed process usually takes place. First, the land is valued as if it’s vacant—an empty lot, in other words. Then any improvements are described and measured. Improvements consist of the house and any other structures, pools, sheds, garages, and so forth. Next, most counties check the Marshall Valuation Service Cost Guide. It’s a standardized nationwide guide for determining the value of the cost per square foot to build a building that fits the description of the improved property. Next, if the house isn’t brand new, the replacement cost is considered, as well as depreciation; the year the house was constructed and the condition of the property are factors here. Appraisers then must take the critical step of comparing the value of the house with recent selling prices of similar homes in the neighborhood. At this point, the appraisal might stand “as is”—or it might be adjusted upward or downward.
Market Value is a theory, in other words—not an unchanging fact.
In a perfect world, you have to have willing buyer and a willing seller. Neither is under duress. Both are in a position to maximize gain and are trying to do this. But in the real world, things are rarely that simple and equally balanced. Which is why people feel differently about the appraisal value of a house. It really depends how strong their position is as a buyer or seller.
Does the local economy come into it at all? You bet it does.
Ask a successful Realtor about that! He or she will tell you they’ve noticed that the Rio Grande Valley’s fast-growing economy is attracting people from other areas who consider real estate here a bargain. That helps fuel increases in property values.
So—now you know where that Grand Total comes from.
You’re armed with the information you need to make a better house-buying decision. For instance, you can understand how two virtually identical houses that are in two different neighborhoods could be very far apart in price and appraised value. And why your choice of the right house in the right neighborhood could be worth a not-so-small fortune to you right now—and years down the road.
Sellers! You can get a great idea of how much your home is worth! Call me for a FREE Comparative Market Analysis (CMA) Laura Key 310.866.8422
More Sellers Jump Into Favorable Market
More sellers are ready to put their homes on the market for the awaiting buyers. They are getting top dollar! If you have been thinking of selling, give me a call for a FREE Comparative Market Analysis and let's begin the process! Laura Key 310.866.8422
Inventories of for-sale homes are increasing as more owners see rising home prices and faster sales as a reason to try to sell now, according to industry reports.
In April, the number of listings was higher than the level of homes that were under contract in that month, according to a study by the real estate brokerage ZipRealty, which measured listings in 24 major metro markets.
“It’s less of an indication of buyer momentum flagging and more of seller momentum picking up, finally,” says Lanny Baker, the company’s chief executive.
The reports find that homes are selling faster—on average, within 32 days of being listed. In April 2012, that average stood at 48 days for homes to sell.
“A market in which the sale prices are happening very close to the list prices, a market in which the list prices seem to be moving sequentially higher, and a market in which any of those houses are selling speedily is one that is bringing sellers back,” Baker says. “That makes it feel to a seller that this isn’t going to be a long passive despair that I tried three years ago.”
Source: “Why More Sellers Could Test the Market,” The Wall Street Journal (June 10, 2013)
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Does HUD Offer Special Programs for Homebuyers?
Buying a HUD Home is not as difficult as you may think! I have helped many people purchase their 1st Home from HUD! Call me today for more details about the process! Laura.A.Key@gmail.com or Visit my website to sign up for FREE HUD Listings! http://www.KeyCaliforniaHomes.com
Yes, HUD offers a program called the GOOD NEIGHBOR NEXT DOOR PROGRAM for Police Officers, Firefighters, EMT and Teachers! Call for more details on this program! 310.866.8422. If foreclosures are not sold within six months, HUD will sell them for $1 each to approved nonprofit organizations and government agencies. Homes must then be used create housing for families in need or to benefit neighborhoods.
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Does HUD Offer Financing On Their Homes?
Buying a HUD Home is not as difficult as you may think! I have helped many people purchase their 1st Home from HUD! Call me today for more details about the process! Laura.A.Key@gmail.com or Visit my website to sign up for FREE HUD Listings! http://www.KeyCaliforniaHomes.com
HUD does not provide direct financing to buyers of HUD Homes. Buyers must obtain financing through either their own cash reserves or a mortgage lender. If you have the necessary available cash or can qualify for a loan (subject to certain restrictions) you may buy a HUD Home. While HUD does not provide direct financing for the purchase of a HUD Home, it may be possible for you to qualify for an FHA-insured mortgage to finance the purchase.
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HUD-Owned Homes Expected to Surge
Soon the market will be filled with new listings from HUD! Are you prepared? Make sure you use an agent who is HUD experienced and can help you find the home of your dreams. I have closed many HUD homes in the past few years! Let me assist you! Laura Key 310.866.8422
The U.S. Department of Housing and Urban Development is reportedly going to be releasing more of its homes to the market, which could be welcome news to buyers who have faced slim pickings in for-sale inventories.
Over the next two years, experts predict that HUD homes on the market will increase significantly as lenders work through the backlogs of foreclosures and foreclosure reviews.
“The inventory is there, [it’s] just not being released during the banks/servicers review of the loan/mortgage documents,” says Nat Genis, a HUD listing broker in Riverside County, Calif., which is already seeing an increase in HUD-owned homes.
"HUD homes are back," Genis told HousingWire. "FHA financing went away with the 'creative' financing of the 80/20 loans, and now with the increase of FHA financing, these government-backed loans guarantee that if the borrower defaults, HUD will pay off the mortgage, obtain the deed, and re-sell the home."
HUD-owned homes can be appealing because of the discounted sales price, even though they can be in poor condition often times, HousingWire reports.
HUD had 39,442 homes in its REO inventory nationwide as of Feb. 28, 2013—with 20,536 of those having pending contracts on them, according to HUD.
Source: “HUD homes add to inventory-starved market,” HousingWire (April 29, 2013)
Do I Need An Appraisal On A HUD Home?
Buying a HUD Home is not as difficult as you may think! I have helped many people purchase their 1st Home from HUD! Call me today for more details about the process! Laura.A.Key@gmail.com or Visit my website to sign up for FREE HUD Listings! http://www.KeyCaliforniaHomes.com
It is not necessary to have a HUD home independently appraised, HUD offers an appraisal every 6 months. Your Lender may require a more current appraisal than the one provided by HUD. Ask your loan officer or HUD registered agent.
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How Much Money Will I Have to Put Down on a HUD Home?
Buying a HUD Home is not as difficult as you may think! I have helped many people purchase their 1st Home from HUD! Call me today for more details about the process! Laura.A.Key@gmail.com or Visit my website to sign up for FREE HUD Listings! http://www.KeyCaliforniaHomes.com
If the bid price is less than $50,000, you’re required to make an earnest money deposit of $500. HUD homes priced greater than $50,000 require a $1000 deposit.
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Can You Buy a Home That Isn’t for Sale?
With inventory so low in Cali you must think outside the box. I'm willing to go there with you! Laura.A.Key@gmail.com
It may seem like an odd question, but apparently, you can!
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Should I Get A Home Inspection If I Am Buying A HUD?
Buying a HUD Home is not as difficult as you may think! I have helped many people purchase their 1st Home from HUD! Call me today for more details about the process! Laura.A.Key@gmail.com or Visit my website to sign up for FREE HUD Listings! http://www.KeyCaliforniaHomes.com
HUD does not warrant the condition of its properties and will not pay for the correction of defects or repairs. Since the new owner will be responsible for making needed repairs, HUD strongly urges every potential homebuyer to get a professional inspection prior to submitting an offer to purchase.
If you are interested in acquiring a HUD Home that is in need of repair, you may be interested in applying for an FHA 203(k) Rehabilitation Loan. When a homebuyer wants to purchase a house in need of repair or modernization, the homebuyer usually has to obtain financing first to purchase the dwelling; additional financing to do the rehabilitation construction; and a permanent mortgage when the work is completed to pay off the interim loans with a permanent mortgage. Often the interim financing (the acquisition and construction loans) involves relatively high interest rates and short amortization periods. The Section 203(k) program was designed to address this situation. The borrower can get just one mortgage loan, at a long-term fixed (or adjustable) rate, to finance both the acquisition and the rehabilitation of the property.
Will HUD make the repairs?
HUD homes are sold as-is. The new owner is responsible for all repairs and improvements.
Can I start improving on the property right away?
If HUD accepts your offer, you cannot make any repairs or home improvements until the escrow transaction has closed and title is recorded in your name.
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Rising Student Loan Debt Keeps Buyers Out
There are simple solutions around this issue. Call me today to discuss your options! Laura Key 310.866.8422
Between 2004 and 2012, student loan balances nearly tripled, according to a new survey from the Federal Reserve Bank of New York. What’s more, one-third of student loan borrowers are delinquent on their debt, according to the Federal Reserve report. This will impact their credit rating and possibly keep them out of the mortgage market much longer.
"Short term, you see a decrease in the number of first-time home buyers," Brian Coester of Coester Valuation Management told CNBC. "You're going to see somebody who would have been able to afford a more expensive house maybe go for the lower version or the downgraded version."
Potential buyers with heavy student debt burden have been forced to rent or even move back in with their parents as they chip away at their debt.
"Long term it's going to really affect especially the upper end, because people aren't going to have the excess income to buy the jumbo property or buy that high end property," says Coester. "It' s going to affect home prices as a negative, as more of a cap, because it's really debt that they are servicing."
Source: “Student Debt Is Housing’s $1 Trillion Challenge,” CNBC.com (April 8, 2013)
Making an Offer On A HUD Home?
Buying a HUD Home is not as difficult as you may think! I have helped many people purchase their 1st Home from HUD! Call me today for more details about the process! Laura.A.Key@gmail.com or Visit my website to sign up for FREE HUD Listings! http://www.KeyCaliforniaHomes.com
Buyers will want to make offers based on ‘as-is’ appraisals determined by HUD. HUD will accept no offers that are lower than 50 percent of their appraisal. If you offer more than the appraisal price, you will be required pay the amount of the over-bid at closing, as your lender will base their loan amount on the appraised value of the home. Also, the process is a bit different than a regular offer on property. Your offer will be submitted online and government forms will be used to conduct the transaction.
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Economist Quashes Housing Bubble Rumors
I love what I do; however I have reservations about this report. I have had deep conversations with other agents and I firmly feel we are in a danger zone. Your thoughts? Laura Key 310.866.8422
Recently, rumblings of another housing bubble have been emerging, but one economist says with inventories expected to rise soon, the housing market is not at threat.
Rick Sharga, executive vice president with Carrington Mortgage Holdings, told a crowd at the REOMAC 2013 Summit & Expo in Dallas on Monday that the housing market should expect things to get worse before they start improving.
But “this is not the 2005 market,” he said. “We are not creating a bubble.”
Sharga says the lack of available home inventory is the reason why home prices are rising. New-home inventories are at their lowest level in more than 30 years, he said. “Very few markets are anywhere near where we were at the peak,” he said. The markets showing some “bubble-like tendencies” are housing markets that saw the biggest declines, he noted.
LPS Applied Analytics recently predicted that home prices could rise another 35 percent without affecting affordability.
Sharga predicts that by this time next year there will be too many homes for sale. Housing and foreclosure starts are expected to start rising within the next year.
Source: “Carrington’s Sharga: We Are Not Creating Another Housing Bubble,” HousingWire (April 8, 2013)
Who Can Buy A HUD Home?
Buying a HUD Home is not as difficult as you may think! I have helped many people purchase their 1st Home from HUD! Call me today for more details about the process! Laura.A.Key@gmail.com or Visit my website to sign up for FREE HUD Listings!http://www.KeyCaliforniaHomes.com
Almost anyone! If you have the cash or can qualify for a loan (subject to certain restrictions) you may buy a HUD Home. HUD Homes are initially offered to owner-occupant purchasers (people who are buying the home as their primary residence). Following the priority period for owner occupants, unsold properties are available to all buyers, including investors.
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Big Predictions for Housing for Next 2 Years
Finally some GOOD news on the Real Estate front! Regardless of what the news says...Real Estate is either UP or DOWN...either way it's a good investment! Call me to increase your worth! Laura Key 310.866.8422
Home sales are projected to post some big gains in the next two years, according to Fannie Mae’s latest monthly economic outlook.
Fannie Mae economists predict that existing-home sales will rise by 10.5 percent this year, and by 6.2 percent in 2014. The economists made even bolder projections for new single-family home sales -- growing 15.1 percent this year and 44.1 percent in 2014.
"We expect home prices to firm further amid a durable housing recovery, continuing to boost household net worth, gradually diminishing the population of underwater borrowers, and reducing incentive for strategic defaults," according to Fannie Mae’s report.
Fannie Mae projects that mortgage rates will stay low by historical averages this year, but the 30-year fixed-rate mortgage will rise from an average of 3.5 percent during the first quarter to an average of 4 percent during the final three months of 2013. During the fourth quarter of 2014, mortgage rates are projected to tick up to a 4.5 percent average.
Mortgage applications for purchases are projected to increase by 16.8 percent this year and by 17.1 percent in 2014. However, a decline in applications for refinancings will likely cause mortgage originations to be down 14.5 percent this year and by 31.4 percent in 2014, Fannie economists predict.
Source: “Fannie Mae sees housing upturn as 'intact',” Inman News (March 28, 2013)
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