Archive for September, 2008

Mortgage Loans still available

Tuesday, September 30th, 2008

Contrary to what the media says – there are still plenty of mortgage loans available!
The Advantages of FHA Loans
In many regions of the U.S., FHA loans have not been utilized for years, so a lot of real estate agents and mortgage originators aren’t familiar with this
great resource. The following are a just a few of the recent changes that have made FHA loans a more attractive option again for some consumers looking to buy a new home or refinance an existing one:
1) Congress passed the Stimulus Act of 2008. During the recent housing boom, home values surpassed FHA loan limits in many regions of theU.S. The recent enactment of this important legislation, however, increased FHA loan limits up to $729,500 in many high-cost regions of the U.S. through the end of the year. FHA loan limits vary by county, so give us a call for loan limits in your area.

2) The FHA changed its appraisal and fee negotiating guidelines. In the past, many sellers steered clear of FHA loans because the appraisals were
too strict and certain fees were non-negotiable. The FHA has greatly loosened these guidelines to make it easier for both buyers a nd sellers. Appraisal
are based on “Safety, Structure and Security”

3) FHA loans are much cheaper now. Because FHA loans are federally insured, they tend to trade at a higher premium in the secondary market. This means lenders can often charge a lower rate.

Other FHA Benefits:
 FHA loans are not credit-score driven. Borrowers can have a lower score than other products and still qualify for a good rate.
 FHA loans require as little as 3% down.
 FHA loans allow down-payment assistance programs. This allows the seller to cover the buyer’s down payment and closing costs. This means borrowers, especially first -time buyers, or move-up buyers with limited funds, have a real opportunity of getting into a home with little or no cash at closing. For sellers, this means you can offer concessions that make marketing your home much more attractive without having to lower the price of your home again.
 FHA loans allow a) Sellers to finance all of the buyer’s costs to close; b) Homeowners to take cash out up to 95% of the home ‘s value; and c)
Homeowners to consolidate a first and second loan up to 97% of the home’s value.
If you or someone you know is thinking about buying or selling a home, give us a call. We’ll put you in touch with a lender to see if an FHA loan is right for your financial goals and needs.

First Time Home Buyers Tax Credit

Tuesday, September 16th, 2008

We are having another seminar so if you missed the first one, you will want to attend this one! We had good response for September’s meeting and the information was helpful to several who were in attendance.

If you are in the Newton, KS or Wichita, KS area you may be interested in learning how you can receive a tax credit valued at up to $7500!

Who’s this for? First time home buyers or buyers who haven’t owned a home for 3 years.

When is it? Tuesday, December 9, at 7pm

Where do I go? The NEW MODEL HOME IN SPRINGLAKE DEVELOPMENT at 137 SpringLake Drive in Newton KS.

What will I receive? Information about the procedure to apply for a tax credit
Basic information about obtaining a loan as a first time home buyer
Current loan rates and information
Refreshments and a drawing for prizes!

What does it cost? Nothing! Complimentary Admission

Call for additional information or to RSVP! Bring a friend! 316-283-1000

Or…email: dee@stratfordplace.net and leave the number of people in your party who will be attending.

Sponsored by RE/MAX Associates, 500 Main Place, Newton, KS 67114
The Franz Team: Gary Franz 316-772-6605, Margie Wiens 316-215-1964, and Susan Swan 316-765-1799

Is It Time To Purchase a New Home?

Thursday, September 11th, 2008

Deciding whether to move is no easy task. There are many financial and emotional factors to consider prior to taking that next step. However, once the decision has been made, the benefits soon become apparent. According to the best-selling author of Remodel or Move*, Dan Fritschen, there are several reasons why people choose to move. Perhaps the size of their family has grown and their existing home has become a little too cozy. As children mature, being close to good schools becomes much more important. Job changes can also lead to a desire to move, especially when a commute increases dramatically. In addition, there are idiosyncrasies that are unique to a particular home and its neighborhood. Is the floor plan in the existing home desirable? While remodeling can help to correct certain issues a homeowner may encounter, a bad floor plan can be insurmountable. Is the yard big enough to accommodate the family pets and a garden? Neighborhoods also vary widely. If a person prefers a neighborhood where the residents are social and kids are out playing during the day, then they would not be happy in a subdivision that is quiet and reserved. While moving into a new home is no small task, the benefits of finding the right one are well worth the effort.

The Franz Team has been receiving emails from our local lenders with updated interest rates. These rates fluctuate rapidly, so call a lender to be on the cutting edge.

If you are at all thinking of making a move, call your lender today and get a pre-approval letter. That is the first step to take before you begin the search for your dream home.

Under Contract Already????

Wednesday, September 10th, 2008

Wow! The Franz Team has done it again! From listing a Newton, KS property to having a qualified buyer only took 13 days! That just proves that the realtors who know their market best and the sellers who are willing to trust the realtor get action on the sale of their home the quickest in a supposedly less than appreciated selling market. The RE/MAX Associates Franz Team is good at what they do—advising sellers and helping families in Newton and surrounding areas find the home they need for a price they can afford.

The UnReal Estate Knowledge Site

Wednesday, September 10th, 2008

The Franz Team, RE/MAX Associates, Newton, Kansas 67114 316.283.1000

8222 Cottontail Lane

Wednesday, September 10th, 2008

Front

This is a 2.5 Acre estate with a contemporary home set in a beautiful grove of trees, ponds, landscaping and grassy vistas. It has an open plan that houses 3 bedrooms, 2 baths, office, and, of course, a living room, dining room, and kitchen.

Take a look at the virtual tour.

See a video of the property at:
http://www.youtube.com/watch?v=U2OQilprcks
See all listed properties at our Re/MAX site, click here.

Links

Thursday, September 4th, 2008

TheFranzTeam.com
Use this site to see ALL of the properties listed in the Newton, Wichita, KS area.

Margie’s Shaklee Connection
Use this site to see all Shaklee Products and Opportunities to start a business.

Newton Virtual Tours Link
Use this site to see all Franz Team Virtual Tour Listings in Newton

Hesston Virtual Tours Link
Use this site to see all Franz Team Virtual Tour Listings in Hesston

Newton Chamber Of Commerce Website

RENTING? OR OWNING? WHICH IS BEST?

Thursday, September 4th, 2008

To own a home is still the “American Dream”! It is a little harder to do now, but we have been helping people achieve this dream and in many cases with 100% financing! Most loan companies will say 100% doesn’t exist any more—but we have some loan contacts that still make it possible in numerous geographical locations. If you are renting you have another really important reason to consider home ownership.

IT’S CHEAPER TO OWN!!! If you put the same amount in home ownership that you put into a monthly rental you can generally get more square footage, better locations, more yard space, quieter surroundings, AND a start on building your credit and personal net worth! With 100% financing you can get into your own home with LESS down payment than would be required in a “first months rent and security deposit” that you would pay for an apartment. The long term benefits can also be very impressive. Take this example: Rent $900 per month for a small apartment. (2 bedrooms)

In 10 years you will have paid$108,000.00 to a landlord No equity buildup No tax deduction $0 increase in your net worth.

Own a home at $700 per month for principle and interest on a 1100 Sq. Ft. home (3 bedrooms) On the average over ten years you will receive a reduction in your taxes of $100 per month. Net house payment cost is $600.00 per month

Taxes and insurance will be approximately $200 per month

Maintenance cost of $75 per month. Total of the above expenses: $875.00 per month—LESS THAN RENT! In 10 years your value in your homecould be as high as $46,000 if you include both the savings in income taxes, equity buildup and appreciation !

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See all listed properties at our Re/MAX site, click here.