FHA Loans and VA Loans Cost Home Buyers

Collier Swecker video blogs about how FHA home loans and VA home loan programs for home buyers often sound great because of little or no down payment but what home buyers do not realize is that FHA loans and VA loans have upfront fees and costs that exceed 2% of the total borrowed amount. These upfront costs do not go towards equity and if the buyer spent just a little bit more the entire amount in a conventional loan would go to equity in the property. Also keep in mind that with FHA loans, PMI stays on for the life of the loan. It only takes 5% of the purchase price to get a conventional loan vs. the 3.5% FHA / 0% VA. If you have any questions or comments email me at Collier@MegaAgents.com, visit my blog at www.CollierSwecker.com or my website at www.MegaAgents.com.

 

The Rich Folks are Buying Homes Now and Why You Should Too

Collier Swecker video blogs about how the number of million dollar homes sold in the United States rich surged over 18% from 2009 numbers. This drastic increase comes after 4 straight years of declines in the number of Million Dollar homes sold in the United States. Collier talks about why the rich are buying today and why it is so important for Home Buyers in all price points to use the same reasons to go ahead and purchase a new home, even in this turbulent economy. The rich usually stay rich because they keep doing the same habits that made them rich, so I think that we all may want to follow their lead. If you have any comments or questions about the increase of Million Dollar homes sold in 2010, email me at Collier@MegaAgentRealEstate.com or visit my website at www.MegaAgentRealEstate.com.

Get Title Search and Title Insurance Even If You Are Paying Cash For a Home

<p>Collier Swecker video blogs about how home investors need to make sure and get a full title search performed and purchase title insurance when purchasing investment property. I have seen many occasions when a cash buyer tries to appease a Seller who is trying to save as much of his/her equity as possible by cutting costs to the bone and one of the items thrown out is title insurance. What a mistake. There are some attributes of a home that can&rsquo;t be seen by the naked eye.&nbsp; For instance, tax liens and mechanics liens are only found by a title search at the county probate office and only a title insurance policy can protect you. I really think that you should always get a title insurance policy, but am pointing this out because I am seeing more folks paying cash for cheap homes. If you have any comments or questions about the importance of getting title search and title insurance when buying a home for cash and email me at Collier@MegaAgentRealEstate.com or visit my website at www.MegaAgentRealEstate.com.</p> <p style=”text-align: center;”>&nbsp; <object id=”viddler_6d780a91″ classid=”clsid:D27CDB6E-AE6D-11cf-96B8-444553540000″ width=”247″ height=”227″> <param name=”movie” value=”http://www.viddler.com/player/6d780a91/” /> <param name=”allowScriptAccess” value=”always” /> <param name=”allowFullScreen” value=”true” /><embed type=”application/x-shockwave-flash” width=”247″ height=”227″ src=”http://www.viddler.com/player/6d780a91/” allowscriptaccess=”always” allowfullscreen=”true” name=”viddler_6d780a91″></embed>&nbsp; </object> </p>

Caveat Emptor – Buyer Beware When Buying a Home in Alabama

Collier Swecker video blogs about how Alabama is one of the only remaining states that puts nearly all of the responsibility on a purchaser of a home to discover all defects of a home that will be material to a purchasers decision to buy a particular home. Simply put, buyers should make every effort to investigate issues of importance to them and not rely on others to do what they should have done to fully investigate a homes condition to their satisfaction.  After you close on the purchase of your home, a buyer cannot expect to be able to have buyers remorse and walk away from their new purchase because of an unacceptable condition that they find after closing. Almost every other state in our country has seller disclosure laws that require Sellers to disclose, in writing, the current condition of the home including latent and non-latent defects. In Alabama, only latent defects must be disclosed to prospective purchasers. An example (extreme to prove the point) of a latent defect is an unexploded bomb that is found in the homes backyard, which could cause possible physical harm to anyone living at the home.  Therefore, buyers of homes in Alabama need to make sure and have all aspects of their prospective home inspected by licensed inspectors that are specifically qualified to inspect the system or aspect of the home for which the buyer is concerned. Chinese Drywall and Mold are two areas, in particular, that you need to make sure that your inspector has been certified and/or qualified to inspect. Oh, and make sure that your inspector is insured.  If you have any comments or questions about Alabama’s Caveat Emptor – Buyer Beware Law, email me at Collier@MegaAgentRealEstate.com or visit my website at www.MegaAgentRealEstate.com.