real estate

Are you looking for ways to find new investors for your project?  What if you could provide something better than a return.  If you have ever been to a GDF seminar, then you know that the three major components to any funding deal are:

1.  Job Creation

2. Provides Economic Development Activities

3.  Shovel Ready

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2015 Loan limits for highest and lowest cost areas to remain unchanged

WASHINGTON - The Federal Housing Administration (FHA) today announced the agency's news schedule of loan limits for 2015. These loan limits are effective for case numbers assigned on or after January 1, 2015, and will remain in effect through the end of the year.

FHA's calculation for maximum loan limits in high cost metropolitan areas of the country will remain the same as the 2014 level of $625,500. The current standard loan limit for areas where housing costs are relatively low will also remain unchanged at $271,050.

Each year, FHA recalculates its national loan limit based on a percentage calculation of the national conforming loan limit. Depending on those limits, FHA's minimum national loan limit "floor" is at 65 percent of the national conforming loan limit. The floor applies to those areas where 115 percent of the median home price is less than 65 percent of the national conforming loan limit.

Conversely, any area where the loan limit exceeds the "floor" is considered a high cost area. The maximum FHA national loan limit "ceiling" is at 150 percent of the national conforming limit. In areas where 115 percent of the median home price (of the highest cost county) exceeds 150 percent of the conforming loan limit, the FHA loan limits remain at 150 percent of the conforming loan limit.

Areas are eligible for FHA loan limits above the national standard limit, and up to the national ceiling level, based on median area home prices. Additional information and loan limit adjustments for two-, three-, and four-unit properties, and in Special Exception Areas, are noted in FHA's mortgagee letter. An attachment to the Mortgagee Letter provides information on which counties are eligible for loan limits above the national standard. Borrowers with existing FHA insured mortgages may continue to utilize FHA's Streamline refinance program regardless of their loan balance.

The mortgage loan limits for FHA-insured reverse mortgages will also remain unchanged. The FHA reverse-mortgage product, known as the Home Equity Conversion Mortgage (HECM), will continue to have a maximum claim amount of $625,500, with actual loan limits based on property value, borrower age, and current interest rates. Reverse mortgages allow homeowners age 62 and older to age in place by borrowing against the value of their homes without any requirements for monthly payments; no repayment is required as long as a homeowner lives in the home. The reverse mortgage is repaid, with interest, when the homeowner leaves the home.

Special Personal Cost Savings Report From Government Deal Funding!

People around the world, and around the country, are becoming less complacent about the choices they make. They are beginning to understand that some of the decisions they've made in the past were wrong and need to be changed. They are beginning to understand the renewable energy advantages.

Things like solar power and wind power are clean, renewable, and very cost effective for household use. As technology advances the advantages to these types of energy sources will only increase.

As we find even more advanced methods for converting energy from the wind and sun into power and learn more effective ways to store that power, we will dramatically increase the usefulness of these methods.

Many people are installing their own solar panels and wind turbines today, and both can effectively cut your energy bill as well as the negative impact of using fossil fuels for electricity.

Here is a list some some of the advantages to implementing renewable resources into your household:

1. By providing even a portion of your electricity needs using solar power and/or installing a wind turbine you can cut your utility bill by up to 80%. When you calculate what that would be over the course of years you will see that the savings is significant.

2. The more you can contribute to your own energy needs with renewable energy sources, the less of the pollutant rich fossil fuels you will have to use.

3. Neither wind nor solar power pollutes the environment with their use.

I know some of these things may seem obvious but it's important enough to be reiterated. If you want to help the planet and save money at the same time you owe it to yourself to do a little more research into renewable energy advantages. Saving money while saving the planet: there just isn't a downside.

Special Personal Cost Savings Report From Government Deal Funding!

Heading into this winter season many families are understandably nervous.  It's a tough economy and many people are worried about their jobs and keeping up with rising costs.  But there are many cheap, or free, things you can do to cut energy bills.  Here is a list of some of the easy, yet effective, changes you can start making today.

1. Make sure your furnace is ready for the winter.

Have a qualified HVAC professional check and clean your unit. Once the heating season starts make sure to change your filters monthly. If the filter is dirty it will restrict airflow which will use more energy since it has to work harder.

2. Add a programmable thermostat.

You can set it to automatically adjust the temperature at certain times of the day and certain days of the week.  That way the temperature in your home will automatically go down during the day when no one is home, or overnight.  It can also raise the temperature shortly before you get up in the morning.

3. Take care of your fireplace.

Make sure the chimney is cleaned and in good repair.  If you use your fireplace more than once a week you should have it professionally cleaned yearly.  Also install a cap or screen at the top of your chimney to prevent birds from building nests.

4. Caulk around your windows and doors.

The more heat loss you can prevent the less your furnace will have to run, and that will save you money all season long. Using window kits is another way to prevent heat loss from older windows.

5. Using wind power

(Think home windmill!) Along with the above winterizeing tips and this will more than put you ahead of the game; on cutting your long term electric bills.

Now is a good time to make some simple changes that can help you cut energy bills this winter. Take a few minutes now to save hundreds not only this winter but throughout the year and for years to come.

Preparing to buy a piece of real estate can be an exciting decision...and a nerve-wracking one.  Some folks have made a tremendous amount of money through real estate purchases, but the opportunity for financial ruin is also possible without a thorough understanding of factors involved in real estate.

If you are shopping for real estate, don't immediately give a low offer on a home you are very interested in buying.  An extremely low offer will scare off the current owner and make it appear that you are not willing to negotiate.  A more reasonable offer shows the owner that you are serious about buying it.  In this market time and money are equal players in the negotiating process.

When purchasing a home, you should shop around for financing options.  Try to get the best deal when financing.  Make sure that all of the terms of the loan are delineated on paper.  This will avoid any suspicion that some lenders will try to change the terms and rates during the financing process.  Always look for hidden fees.

The right time to buy a home is always now, provided you are prepared. Interest rates fluctuate and so does the market.  Real estate purchases should always happen when you are ready, not when the stars are aligned.  The time to purchase is when you have done your homework and found the home that makes you happy.

Make sure to keep all aspects of the home you are thinking about purchasing in mind.  While the physical aspects of the house, such as the size of rooms, the kitchen and other things, are important considerations, avoid focusing solely on these few things.  Other amenities like traffic patterns, noise levels and the quality of the neighborhood also hugely impact your experience once a house is moved into after purchase.

Lack of knowledge about the ins and outs of real estate purchases can wind up costing you a tremendous amount of money, time, effort, and frustration.  A thorough understanding of the factors necessary for success in real estate is necessary, and after implementing the suggestions mentioned in this article, you will be well on your way.

When you think about investing in real estate, imagine buying the property for yourself.  Look at all the things you like and place yourself in the role as a buyer.  It helps to move the property later.

WASHINGTON, DC- The District of Columbia Department of Housing and Community Development announces the release of six solicitations for offers (SFOs) for 27 blighted properties and vacant lots throughout the nation’s capital. Through the SFO process, DHCD is seeking public offers to build development projects that promote vibrant, walkable, mixed use and income neighborhoods. The 27 District owned properties and lots are located in Wards 1, 5, 7 and 8. They consist of four buildings and 23 vacant lots. The ward-by-ward breakdown includes:

Ward 1 One vacant lot
Ward 5 One building and seven vacant lots
Ward 7 14 vacant lots
Ward 8 Three buildings and one vacant lot

The SFO application materials became available on Friday, July 11, 2014 on the DHCD website and also at the DHCD Housing Resource Center, located at 1800 Martin Luther King, Jr. Avenue, SE, Washington, DC 20020 in CD format. Two Pre-Bid meeting will be held on August 6, 2014 (SFOs 1-3) and August 20, 2014 (SFOs 4-6). The exact location will be announced on the DHCD website. The deadline for submitting proposal applications is 4 p.m. EST on Friday, October 10, 2014 (SFOs 1-3) and October 24, 2014 (SFOs 4-6).

SACRAMENTO, CA – The California Housing Finance Agency announced a major program expansion to help more low to moderate income California families purchase homes.

CalHFA will remove the first-time home buyer requirement on its first mortgage programs to allow more California home buyers to take advantage of the benefits of CalHFA’s affordable financing.

“CalHFA’s mortgage loans will now provide more low to moderate income families across the state with affordable opportunities to purchase homes with fixed-rate mortgages and down payment assistance programs,” said CalHFA Executive Director Claudia Cappio.

California’s homeownership rate stands at about 54.5 percent as of the end of the first quarter of this year, according to U.S. Census estimates, a full 10 percentage points below the national homeownership rate. California’s rate dropped from more than 60 percent before the Great Recession.

Studies also show that homeownership is linked to stronger neighborhoods, better educational achievement, civic participation and healthier outcomes. CalHFA’s lending programs provide unique opportunities for families to purchase homes, including:

  • Offering a first mortgage for 97 percent of the value of the home, combined with a 3 percent built-in down payment second.
  • Access to no interest and low-interest down payment assistance loans that don’t have to be repaid until the home is sold, refinanced or the mortgage is paid off.
  • Combining with other CalHFA programs, including an energy efficiency grant for energy upgrades and federal tax credits that can reduce potential federal income tax liability.

All CalHFA lending programs require homebuyer education for future homeowners.   Borrowers must also meet income and sales price limits that vary by county.

“As we mark National Homeownership Month, CalHFA remains committed to helping Californians purchase affordable homes,” Cappio said. “Homeownership is a cornerstone for our communities and economy. With these new efforts, CalHFA is working to remove obstacles that prevent Californians from becoming homeowners.”

For nearly 40 years, CalHFA, a self-supported State agency that doesn’t rely on taxpayer dollars, has supported the needs of renters and homeowners by creating and financing progressive housing solutions so more Californians have a place to call home.