Trish Re's Homes

Memorial Day

Trish Re — Sat, 26 May 2012 16:09:54 +0000

Words cannot express the sacrifices endured by our troops and their families. As we celebrate at our backyard barbeques, parades, and parties….we must remember those who bravely served our country, and never came home.

Happy Mother’s Day!

Trish Re — Sun, 13 May 2012 17:44:52 +0000

Wishing all the wonderful moms out there a very happy Mother’s Day!

Trish Re

Multiple Offers Are Back Again

Trish Re — Sat, 12 May 2012 18:51:04 +0000

The real estate market is heating up and a sure sign is the return of multiple offers. If you are a buyer, it is important not to procrastinate once you’ve found the house you want. If you find yourself in a multiple offer situation, you must submit the best possible offer you can. The offer should be non-contingent with a pre-approval from a reputable lender. Flexibility in closing also helps.

If you are a seller reviewing multiple offers consider the offer with the best conditions for your needs. The highest offer may not be the best if it is contingent or the buyer is unwilling or unable to flex the closing date.

This is a good sign that the market is turning around. Interest rates remain low. Now is a great time to buy or sell!

Craigslist Rental Scan Warning

Trish Re — Sat, 21 Apr 2012 20:00:05 +0000

There has been an increase in the number of rental scams posted on Craigslist…..

How it works:

Scammers take a listing and post to Craigslist as a rental. Often the rental rate is very low, generating a lot of interest from potential tenants. When the prospective tenant inquires about the property they get a response from the (fake) “owner” who usually has some story about being out of the country for an extended period of time – i.e. doing missionary work in Africa for three years (most common). They request a deposit/first month’s rent be sent via Western Union and tell the consumer that they will mail them the keys after the money is received.

Craigslist has warnings posted on all of their real estate pages. Fortunately most of the consumers question it and often investigate further.

If someone actually loses money, they can fill out a form online set up by the FBI (although chances of recovery are VERY slim): http://www.ic3.gov/default.aspx.

Here is a link to the Craigslist warnings (link to this page appears at the top of all real estate pages): http://www.craigslist.org/about/scams

Please be careful when inquiring about a rental or for sale listing on Craigslist and make sure it is a legitimate ad.

Celebrate Rochester!

Trish Re — Tue, 10 Apr 2012 22:46:30 +0000

I hope you can enjoy some of the events coming up this year in Rochester. Click on the link below for the schedule. Who says there’s nothing to do in Rochester!

Re-SummerEvents2012

Trish Re

What is Mortgage Insurance?

Trish Re — Sat, 07 Apr 2012 11:18:13 +0000

Buyers who purchase a home with less than 20% down are charged Private Mortgage Insurance, or PMI (MIP if an FHA loan). The insurance protects a lender against loss if a borrower defaults on a loan. The expense will be part of the monthly mortgage payment until 20% equity with SONYMA or 22% with Conventional or FHA loans. Both the upfront FHA financed MIP and monthly MIP will be increasing in April.

What is the benefit of private mortgage insurance? It allows buyers to purchase a home with as little as 3% or 5% down. Mortgage rates are currently 4% or lower. Sellers’ concessions are available for those who need assistance with closing costs and there are grants available for first time buyers. There are many affordable homes available. It’s an excellent time to obtain the American dream!

Trish Re

FHA Changes

Trish Re — Sat, 03 Mar 2012 13:59:02 +0000

Are you a buyer looking to finance with FHA loan? This is no April Fool’s joke……

FHA has announced the following changes:

As of April 1, 2012 the Upfront Mortgage Insurance Premium will be raised from 1% to 1.75% regardless of Loan To Value ratio. They will continue to permit the financing of this charge. The change is effective with case numbers assigned on or after April 1, 2012. Therefore any borrowers wishing to obtain the loan payment will need to apply by March 29th.

The Temporary Payroll Tax Cut Continuation Act of 2011 now requires FHA to increase the monthly MIP by 0.10% Therefore the new monthly charge will be 1.25% per month. This change also is effective with case numbers assigned on or after April 1, 2012. Again, any borrower wishing to have the lower costs will need to apply by March 29th.

FHA has also indicated that shortly they will announce the reduction in the allowable seller concessions limits. The initial proposal is to reduce the amount from 6% to 3%.

Even though FHA is making these changes, SONYMA still provides an attractive opportunity for first time homebuyers. The rate might be slightly higher, but they do not charge the upfront MIP and their monthly PMI charges are less. SONYMA also offers the 3% down payment assistance loan and allows for up to 3% in seller concessions.

In addition, there are great first-time buyer programs for those looking to purchase within the next year or so. Qualified buyers can receive grants up to $7500 or more towards closing costs!!

Confused?? Overwhelmed?? Don’t despair! It’s still a great time to purchase a home and there is help out there. Please feel free to contact me and I can put you in touch with qualified mortgage and grant specialists that will assist you in finding the right lending program for you!

Trish Re

585-329-8639

Thank you to all our troops who served in Iraq

Trish Re — Thu, 15 Dec 2011 17:31:51 +0000

The United States lowered its flag in Baghdad as the U.S. military mission in Iraq was officially declared over Thursday. To all our service personnel, thank you and God bless.

Houses for Sale

Trish Re — Sun, 04 Dec 2011 13:46:19 +0000

Whether you are casually looking for a house or a serious buyer, click on link below for all the active listings:

http://HomesteadNet.com/awp23593

My contact info is there if you have any questions.

Trish Re

Veterans Day

Trish Re — Fri, 11 Nov 2011 12:18:34 +0000

On this day we pay tribute and thank all our war veterans for their sacrifices, courage, honor, and loyalty to our country. Without them, we would not be living in the greatest country in the world.

Thank you….and God bless,

Trish Re