Don’t Lose Equity to Foreclosure!

In today’s market, more and more people know someone who is struggling with their mortgage payment as a result of a sharp increase in their interest rate or other loan factors.

If you know someone who is facing a possible foreclosure, I have information that can help. And the sooner we act to help someone in this position, the better the outcome. Because once a house starts to go into foreclosure, it can be difficult to stop and the ramifications can be long lasting:

• the owners may face substantial late fees
• the owners may loose all of their equity
• the owners may suffer with a mark on their credit that will take years to erase
  

But, this does not have to happen. There are a number of effective strategies to help the homeowner forestall a foreclosure. Renegotiating the loan is one possibility. Two other options are a short sale (sell for less than the loan amount with bank approval), or a quick sale (sell for more than the loan amount but at a lower, more attractive market price).

As a full service real estate agent, I am committed to help clients with all their housing needs. Whether it is to help preclude a foreclosure, pull equity out of their home for investment properties, or assist them in either finding a new home or selling their current one, I have the knowledge and the expertise to make the process go smoothly.

Foreclosure is a nationwide problem, but it’s also in our own backyard. If I can help you or anyone you know hold on to their home (or minimize their losses), please call or email me. I appreciate the opportunity to be your trusted real estate resource.

What does $1 million buy in your community?

Short Sale Hurting the Market!

A new term we have come to know as realtors is short sale. People just see a great price and don't realize that the asking price is not an accepted price from the bank.
As a listing agent you can not find out what price the bank will accept until you have a valid offer. The only way to ensure yourself of getting an offer is to price the property low. Once the property gets an offer the property finally gets looked at by the bank. MONTHS LATER, you might actually get a response, most likely a counter offer that is higher then asking and totally unrealistic.

Spring is here and its time to plant.

Buying a Richmond Home? Down Payment Assistance Program

Are you looking to purchase your first home in the Richmond area soon? Well, the city of Richmond has a Downpayment Assistance Program for first time home buyers that could help make this dream a reality. The goal of the program is to increase the homeownership rate among first time buyers in lower income and minority households.
There are some requirements to Downpayment Assistance Program. There are income limits and the buyer must be purchasing their first home within the Richmond city limits. There is also a free homebuyer education course that must be attended.



For more information on the complete requirements and details on the program please feel free to contact me mmekhimar@remax.net or give me a call 804-243-0605.

Servers, keep your tips!

Do you have a manger or supervisor that insists on splitting your tips?

Starbucks has been ordered to pay employees $105 million because shift managers thought they deserved a cut of the tip jar.

San Diego Superior Court Judge Patricia Y. Cowett cited California law that prohibits employers from taking employees’ tips. The suit, filed in 2004, included about 1,400 Starbucks locations in California and was filed on behalf of 100,000 workers.

You served it, you earned it!

Yes, you can sell and buy a home!

Here are a few issues to consider.

• You may have to sell for a lower price...in fact you will sell for lower than last year!
• You can buy the home of your dreams for a lower price too!
• You will only be seeing people that really want to buy....believe it! Credit has tightened so only real buyers are in the market.
• Can you expect some low-ball offer....YES!
• Can you expect to sell in a reasonable time.....Yes if marketed properly!

So if you want to sell do it! Do it with your eyes wide open...know what to expect. Know what your final sell price range is probably going to be. Here are the three probable prices to consider...Your list sell price, the offer price and the actual sell price.

So can you sell? YES. Can you buy another home which will be of similar discount to match what you had to do? YES. So if you do that when the market comes back will you increase in value to make up for the current market down turn? YES, it always comes back...if you have purchased up your investment will go up exponentially.

So is this a great time to sell and buy? rates are great...the home selections are as good as it is going to get and your opportunity to find exactly what you want at a great value could not be better.

How will I know how much to offer?

“Shoot for the moon. Even if you miss, you'll land among the stars.” Les Brown

That’s good advice for space travel. And it could encourage an actor to continue their rehearsals until they make it to Carnegie Hall. However it’s not a proven strategy for buying real estate.

As a homebuyer your question might be: “How will I know how much to offer?”

Who will help you decide? Does a home seller or their listing agent worry about you getting a good deal on your purchase? “NO!” The seller and the seller's agent are concerned primarily about their interests, not yours.

My customers have benefited from my attending to their concerns. You can, too. When we work together I will work to make sure you find the right home for your needs and wants. And then we’ll work to get the most acceptable pricing and financing package, too.

I encourage you to visit my website at www.RichmondVAHomes4Sale.com where you can become familiar with homes for sale, home sales prices, and the most important market and neighborhood information. You can even begin your search for your new home with the dream home finder. See something you like? You can schedule a showing. Now is the time to visit.

Don't risk driving by the home of your dreams. Call upon me to find your home for you.

A Good Time to Buy a House If You Can Afford One!

Finally, it's a buyer's market out there.

For years rapidly rising prices kept many first-time home buyers out of the housing market. But as home values slide further downward and interest rates hover at relatively low levels, it may be time to start looking to buy that first house.

That is, if you have a secure job, can afford higher down payments than were required a few years ago and can meet lenders' much stricter income and credit requirements.

For additional local real estate information, information about me and my services, to request home listings by E-Mail, to request a market analysis on your current home, or to tour the MLS Listings please visit my web sites at http://www.richmondvahomes4sale.com/ or http://www.e-richmondhomes.com/.

30-year fixed rate at 5.62%!

Long-term mortgage interest rates fell Thursday, and the benchmark 10-year Treasury bond yield dropped to 3.33 percent.
The 30-year fixed-rate average dipped to 5.62 percent, and the 15-year fixed rate sank to 5.08 percent. The 1-year adjustable rate rose to 5.53 percent.
The 30-year Treasury bond yield slipped to 4.17 percent.

Mortgage rate figures are according to Bankrate.com, which publishes nightly averages based on its survey of 4,000 banks in 50 states. Points on these mortgages range from zero to 3.5.

For additional local real estate information, information about me and my services, to request home listings by E-Mail, to request a market analysis on your current home, or to tour the MLS Listings please visit my web sites at www.RichmondVAHomes4Sale.com or www.e-RichmondHomes.com.