http://jonwoolley.com/wordpress Real Estate Info Just for You Wed, 25 Jun 2008 20:11:27 +0000 http://backend.userland.com/rss092 en Baron Rothschild, the oft quoted banking opportunist, is said to have advised  his clients that the best time to buy is when there is "blood in the streets." I agree. An investor or home buyer who embraces this axiom starts looking for homes when the newspaper is full of doom and ... http://jonwoolley.com/wordpress/2008/06/25/is-now-a-good-time-to-buy/ I have been working with investors a lot, lately. The smart ones always remind me of the old adage "You make your money when you buy property, not when you sell it". Which really means if you don't buy smart, you won't make any money when you sell it. So how ... http://jonwoolley.com/wordpress/2008/06/25/good-investors-know-how-to-buy/ There is a new 'buyer bonus program' available through Suntrust Mortgage. This program allows the seller to contribute up to 6% of the loan amount towards the buyers first six months mortgage payments. Here's an example: With less than 10% downpayment on a $200,000 loan, the maximum seller contribution is 3% or  $6,000. ... http://jonwoolley.com/wordpress/2008/05/27/buyer-bonus-program/ First time homebuyers have a friend in the Nehemiah downpayment assistance program. What is The Nehemiah Program and how does it work? The Nehemiah Program provides gift funds for downpayment and closing costs to qualified homebuyers who use an FHA insured mortgage or conventional loan. Gift funds up to 6% of the ... http://jonwoolley.com/wordpress/2008/05/27/the-nehemiah-program/ Once a home has been foreclosed on, and is owned by the bank, it is called REO or Real Estate Owned 'by the bank'. These properties typically are in need of some repair, and have often been neglected by the previous owner. Banks are not in the real estate business, ... http://jonwoolley.com/wordpress/2008/05/06/reo-property/ A few weeks ago I spent a few hours at a Trustee's Sale, near the Clark County Courthouse gazebo. I was curious how the final step of the foreclosure process works.  A few weeks earlier, I read the Notice of Trustee's Sale in the local paper, and wrote down the addresses. ... http://jonwoolley.com/wordpress/2008/04/24/clark-county-foreclosure-auctions/ You open your mail. It looks official, and it's from your mortgage company.  Accross the top it reads " Notice of Default".  Homeowners accross the country are getting these every day, and although it's scary, there are things that you can do to avoid foreclosure.  Here in Washington, it's not ... http://jonwoolley.com/wordpress/2008/04/24/avoiding-foreclosure/ In today's market, it seems everyone needs a bit of a reality check.   For Sellers In a good market, where there is 6 months inventory, 2 in 12 homes are selling every month.In today's market, it's 2 in 19 homes selling every month. Only motivated sellers are selling their homes. If a sellers home ... http://jonwoolley.com/wordpress/2008/04/15/todays-real-estate-reality/ If you have already filed your taxes before today, congratulations. If not, you'll be burning the midnight oil tonight, and wondering why you waited so long. There is however, one silver lining in filing your taxes this year. Beginning in May, the IRS will begin issuing Tax Rebate Checks. Specifically, the IRS ... http://jonwoolley.com/wordpress/2008/04/15/today-is-tax-day/ When I first sit down with Buyers, I always have the same questions. It really makes the whole process quicker and easier, when I know exactly what you need and want in your home.  Here's my list of first time questions: Have you been working with another Real Estate Agent? How long have you been ... http://jonwoolley.com/wordpress/2008/04/15/buyers-questions-your-real-estate-agent-might-ask/