Buyers ... Stay Informed on the Local Market

Here is your activity report for the Westside of Jacksonville FL for the December 2010. This report shows that in Jacksonville FL not only were people shopping in the stores they were also giving themselves new homes as Christmas gifts. This task was done easily with the help of the down payment assistance programs made available to many first time home buyers in the Jacksonville FL area.

Here is how it breaks down for the Westside of Jacksonville FL.............

For the entire Westide of Jacksonville FL there were a total of 86 homes sold for the month of December!

Of that 86.........

6 Were in the Normandy area

30 Were from the Crystal Springs area

13 Were from the Oak Hill area

7 Were from the Bent Creek/Plum Tree area

3 Were from the Panthers Creek area

4 Were from the Cecil Commerce area

23  Were from the Collins Rd / Argyle Forest Rd.

It is a beautiful day here in Jacksonville FL for all home buyers! Just because your credit score is low does not make you a bad person does it? Low credit scores also dont mean that you have bad credit. It could be that you just don't have enough of it. Well, home buyers wanting to purchase real estate in Jacksonville FL finally have a voice.

One of my major lenders just made a major announcement.  While other lenders are tightening credit restrictions, a national lender has relaxed them some. As of January 15, 2011 this lender's minimum score requirement is only 500!

Here is the outline of the new credit guidelines...........

If your credit score is between 500-579 you will need a 10 percent down payment. You may not use down payment assistance or gift funds. 
                                                     580-599 you will need a   5 percent down payment.  You may not use down payment assistance or gift funds.
                                                     600+ you may still use the Florida Bond Program, H2H program or the match program.


If you are NOT working with a real estate sales agent at this time and would like more information please don't hesitate to contact me.

Email me for more details Kimsellsjax@gmail.com.

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Here is the latest news on down payment assistance programs for Jacksonville and Orange Park FL homebuyers.

The Headstart to Home ownership or H2H as it is also called is still available for Jacksonville FL residents wanting down payment and closing cost assistance! The income limits for this program have been lifted from 80% of median household income to 120%. This means a family of 4 may earn up to $78,120 and still be eligible for assistance. The down payment assistance amount is up to15,000 with an additional $5,000 for targeted areas in Jacksonville, FL.

 The FHLBank Atlanta's First-time Homebuyer Program (FHP) or "match money" program is currently available for Jacksonville FL and Orange Park FL residents! This program provides $5 for every $1 you place towards your real estate transaction up to $7,500 for moderate to low income residents.This program is available on a first come first serve basis. I don't expect it to be around much longer.

As always "Florida Bond Money" is still available as well with up to $7,500 in down payment and closing cost assistance. This program is administered by the Florida Housing Finance Corporation.

This information is meant for persons that are NOT working with a real estate sales agent at this time. If you or someone that you know is interested please don't hesitate to contact me.

The year of 2010 is nearing a close and we are on the brink of a brand new year here in Jacksonville FL. The year of 2011 is finally within reach!

What plans have you made for yourself? Have you given much thought to where you will be living? Are you ready for a change of scenery? Are you running out of space for a growing family? Are you ready to down size? If you have ever entertained the thought of moving now would be a great time!

To help you purchase these homes there are many down payment and closing cost assistance programs available for first time homebuyers in Jacksonville FL. The Florida Bond Program and the Headstart to Homeownership (H2H) are still going strong.

The Florida Bond program provides up to $7,500 in down payment and closing cost assistance with a great 4.5% interest rate. While the Head start to Homeownership program can provide up to $15,000 in down payment and closing cost assistance. To qualify for these programs credit, income and household size must be verified.

Interest rates are still at historical lows. There are many great homes to choose from whether you are interested in a Jacksonville FL distressed foreclosure, short sale or seller owned property. I can be your guide in choosing any of these homes.

If you are not working with a real estate professional and would like to apply for these Jacksonville FL first time home buyer programs please don't hesitate to contact me.

One of the essential steps to receiving down payment assistance for first time home buyers in Jacksonville FL to purchase a home is the 8 hour class. In order to use any of the first time home buyer help in Jacksonville FL you must take a HUD approved 8 hour class.

This is an helpful class  that gives information on the home buying process for the first time homebuyer. You will learn about choosing, financing and maintaining your new Jacksonville FL home.

When you have completed this 1 day home buyer education course you will receive a certificate. This certificate is good for one year and will be required by your lender to certify completion of the course. Once you receive your certificate you may be eligible for many first time home buyer programs such as, Headstart to Homeownership (H2H) program, Florida Bond program and the Jacksonville SHIP program just to name a few.

This certificate is so very valuable because with it and the down payment programs you have the potential for up $22,500 in down payment and closing cost assistance for your new Jacksonville FL home.

Here is a list of some of the approved providers.............

CATHOLIC CHARITIES

134 EAST CHURCH STREET, SUITE 2
JACKSONVILLE, FLORIDA 32202
(904) 354-4846

Fee $50


FAMILY FOUNDATIONS
OF
NORTHEAST FLORIDA, INC.


1639 ATLANTIC BLVD.
JACKSONVILLE, FLORIDA 32207
(904) 396-4846


HOUSING PARTNERSHIP
OF
NORTHEAST FLORIDA


4401 EMERSON STREET, SUITE 1
JACKSONVILLE, FLORIDA 32207
(904) 398-4424

If you are not already working with a sales agent and would like more information on down payment assistance programs here in the Jacksonville FL area please contact me using the form below.

I am pleased to announce that as of November 30, 2010 5804 Roundtable Drive in Jacksonville FL was closed! This was a brand new 4 bedroom 2 bath home with a 2 car garage for the below list price of $133,990. The builder D R Horton was not only able to throw in many extras for my customer like a covered lanai and front load washer and dryer but they also paid all closing cost and prepaids.

This was made possible for my buyers because they used DHI Mortgage, the preferred mortgage lender for the builder. The loan officer was Anita Knight and she was great. She understood how important it was to me that my customers obtained down payment and closing cost assistance.

By all working together we were able to obtain $22,500 in down payment and closing cost assistance for my buyers. Two programs were used the Headstart to Homeownership program (H2H) and the Florida Bond program. The H2H program provides up $15,000 and the Florida Bond Program offers up to $7,500. The bond money currently comes with a interest rate of 4.75%. These programs may be combined for even more savings once credit and and household size has been verified and approved. I offer these programs to my first time home buyers frequently while walking them through the home buyer process.

Needless to say my customers were pleasantly surprised to see that the mortgage payment was lower than anticipated.

It's wonderful handing over keys to new home buyers especially so close to Christmas.

If you are not working with a sales agent and would like more information on how to purchase your first home in Jacksonville FL please don't hesitate to contact me.

I am pleased to announce that as of November 30, 2010 5804 Roundtable Drive in Jacksonville FL was closed! This was a brand new 4 bedroom 2 bath home with a 2 car garage for the below list price of $133,990. The builder D R Horton was not only able to throw in many extras for my customer like a covered lanai and front load washer and dryer but they also paid all closing cost and prepaids.

This was made possible for my buyers because they used DHI Mortgage, the preferred mortgage lender for the builder. The loan officer was Anita Knight and she was great. She understood how important it was to me that my customers obtained down payment and closing cost assistance.

By all working together we were able to obtain $22,500 in down payment and closing cost assistance for my buyers. Two programs were used the Headstart to Homeownership program (H2H) and the Florida Bond program.  I offer these programs to my first time home buyers frequently while walking them through the home buyer process.

Needless to say my customers were pleasantly surprised to see that the mortgage payment was lower than anticipated.

It's wonderful handing over keys to new home buyers especially so close to Christmas.

If you are not working with a sales agent and would like more information on how to purchase your first home please don't hesitate to contact me using the form below.

H2H down payment assistance is still available in Jacksonville FL for first time home buyers!

This is great and suprising news at the same time. I can't believe all of the funds have not been used up by Jacksonville FL first time homebuyers.

This program provides up to $15,000 down payment and closing cost assistance to for only Jacksonville FL first time homebuyers. To qualify you must meet income and credit standards.

Here is the income table used to determine eligibility........

* The gross income limits are effective as of May, 2010 and are adjusted annually.

If you are not working with a sales agent and you have additional questions regarding this or any other down payment assistance programs in Jacksonvill FL please don't hesitate to contact me (904) 962-8404 or use the contact form below.

There is still up to $7,500 available for down payment and closing cost assistance available for Jacksonville FL first timehome buyers! This down payment assistance is available for all counties in Florida including Duval and Clay counties.

Often times the down payment is the hardest thing for most families to come up with for the purchase of a new home in Jacksonville Fl. This program makes the dream of home ownership easier as long as the consumer is credit worthy and can obtain a mortgage loan from a participating lender.

The program is administered through the Florida Housing Finance Corporation and is more commonly known as "Bond Money". Florida Housing Finance Corporation requires that the future home owner have a minimum 600 middle credit score. Some lenders however may require at least a mid of 620.

Please feel free to visit my website for more information regarding other down payment assistance programs for Jacksonville FL first time home buyers.

If you are not working with a sales agent and you have questions regarding down payment assistance in Jacksonville FL or Clay county Fl please feel free to contact me using the form on this page or call me (904) 962-8404.

I just received a tip on a brand new 1965 sq. ft home on the Westside in Jacksonville, FL! This home is loaded with features that includes.....

4 bedrooms
2 full bathrooms (2 sinks in the guest bath)
1965 sq ft
Full stainless steel appliance package
42 inch cabinets
Island in the kitchen
Front Loader washer and dryer
Builder pays up to $7,000 in buyers closing cost when using preferred lender


This Westside Jacksonville, FL home has been reduced down to $129,900. The builder is really trying to close this community out. They are willing to also use all down payment assistance programs to make the mortgage on this home even lower.

The down payment assistance programs are still available and ready to be used by first time home buyers.

This Jacksonville, FL home even has stone accents on the front.

If you are not already working with a real estate sales agent please feel free to contact me using the form below.

Here is your foreclosure activity for the Westside of Jacksonville

FL for the month of October............

There are currently .........

77 active foreclosure listings on the Westside of Jacksonville,FL

22 were new listings

The average list price on these active homes is $87,970

There were 28 sold foreclosures during the month of October

The average price of the sold listings was $62,860

If you or someone you know is interested in Westside Jacksonville, FL foreclosures have them to contact me using the form below.

As a buyer in the market, you’ll find there are many different mortgage options available to you. A buydown mortgage is one such option. This option can help you reduce your interest rate either temporarily or permanently. In this article, we’ll go over the two different options you have for a buydown mortgage so you know exactly how a buydown mortgage works.
What is a Buydown Mortgage?
A buydown mortgage is when you pay an initial lump sum to “buy down” the interest rate on your loan. This allows you to qualify for larger loan amounts based on your income, because your monthly payments will be lower.
Basically, a buydown mortgage is when you pre-pay your interest upfront. There are two types of buydown mortgages: Temporary and permanent.
What is a Temporary Buydown Mortgage?
Just as the name implies, a temporary buydown mortgage is when you buydown your mortgage for a specific period of time.
The most common way to do this is the 1-2-3 method. This means the buyer pays 3% less than the usual interest rate the first year, 2% the second, and 3% the third. Of course, the terms are usually negotiable and you can buy down even more if you choose to.
The temporary buydown mortgage is great because it can help you reduce your monthly payments for the first three years of moving into a new home. This can help offset the costs of moving expenses, furnishings, building costs, etc.
What is a Permanent Buydown Mortgage?
Again, just as the name implies, a permanent buydown mortgage is a buydown mortgage that allows you to pay upfront for the entire loan.
Keep in mind that you’ll still have to pay the interest either way. In this case, you’re just paying it upfront.
In a “buyer’s market,” it’s not uncommon for sellers to try and entice buyers by offering a permanent buydown mortgage.
You now know what a buydown mortgage is, its benefits and how it works. Knowing your options is a big part of choosing a loan. No matter what you choose, it’s important to speak with a local professional in person. So if you have any mortgage questions, I will me more than glad to answer you queries. Call me on my cell at (904) 962-8404 or email me at kimsellsjax@gmail.com

When buying a home in , most of the home buyer's effort is put into finding the right home. But very little thought is usually put into writing the purchase offer.

Often the real estate agent drags out a "standard purchase contract." The truth is there is no such thing as a standard purchase contract.

However, there are many different forms printed by local or state Realtor associations, local multiple listing services, individual real estate offices and form publishing companies. State law frequently mandates some provisions in realty purchase offers, but buyers and sellers are free to negotiate additional provisions.

Avoid vague provisions

If you are presented with a printed purchase offer form by a real estate agent in to sign, consider who wrote the form. Most printed purchase offers are prepared by attorneys working for clients with vested interests, such as real estate brokers and realty trade associations.

Although it takes time, be sure to read the form before signing it. When you first start looking with an agent at homes for purchase, ask the agent for a blank copy of the purchase offer that agent uses. Then study it before making a purchase offer. If you don't like or understand a clause, unless it is required by state law, don't hesitate to cross it out. Just because it is printed doesn't mean it can't be changed.

Well-written purchase offer printed forms contain blanks for the names of the buyer, address of the property, purchase offer price, financing details and amount of the good faith earnest money deposit.

There is no rule of thumb as to how large the deposit should be. But real estate agents encourage buyers to make as large a deposit as possible, thus enhancing the probability the buyer will complete the purchase as agreed.

If your purchase offer is considerably below the seller's asking price, a large earnest money deposit often impresses the seller into accepting a low offer. However, be sure the deposit is not to be given to the seller until the sale closes but shall be held safely beyond the seller's control.

Well-written printed home purchase forms contain a detailed finance contingency clause. Read it extremely carefully. Be sure it says your purchase offer is contingent on both the buyer and the property qualifying for a specific mortgage.


Damage clause a good idea

Many printed purchase offers contain a liquidated damages clause. That means the exact damages would be hard to determine if the buyer defaults, so the buyer and seller agree in advance that default damages will be limited to a specified amount. This is usually a good clause for the buyer to sign because it prevents litigation.

Most home buyers want their offer contingent upon their approval of a professional inspection report on the home. Smart buyers accompany the inspector, who should be able to explain any defects discovered, their importance and estimated cost of repairs.

The purchase offer often specifies the seller is to pay for necessary repairs, up to a designated maximum amount. Additional inspection clauses may provide for termite, pest control, energy efficiency, radon, plumbing, electrical, roof and other customary reports that are subject to the buyer's approval.

Often a home is being sold "as is." That means the seller will not pay for any repairs. However, be sure the purchase offer specifies the seller and real estate agent have disclosed all known property defects in writing. Some states require such disclosures, whereas they are voluntary in other states. It is usually a good idea for the buyer to make the defect disclosure part of the purchase contract.

The general rule is no personal property now on the premises is included in the sale of real estate. If you want any personal property included in the sale price, such as the stove, refrigerator, washer, dryer, drapes and carpets, be sure to list them specifically even if the agent's listing sheet says they are included.

There is a lot of free information available to you about buying, selling or investing in real estate. For complete information about the real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything real estate. So please feel free to contact me with any of your mortgage questions and I will me more than glad to answer you queries. Call me on my cell at (904) 962-8404 or email me at kimsellsjax@gmail.com.

Up to $15,000 Available in Down payment Assistance Available for Jacksonville FL First Time Homebuyers!

The Headstart to Homeownership or H2H program is finally funded again for Jacksonville FL residents! I am so excited about this because they have been out of funds for over 6 months now.

They provide much needed downpayment and closing cost assistance to eligible Jacksonville FL residents in amounts of $10,000, $12,500 or $15,000 depending upon family size and income.

Here are some of the additional guidelines......

It is always the case that your home is the most important and most expensive purchase you will ever make. However, unlike the other purchases that buyers make with a guarantee attached to it, your home often comes WITHOUT a money-back guarantee or even a return policy. This is true even if you are not satisfied with your purchase. So once you buy a home, you are on your own in its maintenance, repair, problems, and bills payment. And THIS is the reason why you have to know as much about your potential home as you possibly can before you sign under that dotted line and close that deal.

What Do Home Inspectors Do?

Everybody is ready to believe that the best way to understand a home’s condition, habitability, and safety is through a home inspector, and they are right in believing so. A properly trained and professional home inspector will review a house and all its systems. He will look at how one component of the house might affect the operability or lifespan of another. And in doing this, he is able to give you a more or less accurate picture that no amount of sales talk can cover up.

The home inspector will go through the property and perform a comprehensive and objective visual inspection of all its aspects. He will assess the condition of the house and of all its systems. In doing that, he helps in determining the components that are not performing properly as well as items that are beyond their useful life or are unsafe.

A home inspector’s specialty is identifying problems and areas that need repair. However, a home inspector’s job is not merely restricted to problem identification. His functions may include areas where critical repairs may be needed and where there may have been problems in the past. The purpose of a home inspector’s report is to provide you, the client, with a better understanding of property conditions, as observed at the time of the inspection.

What is the Scope of the Inspection?

The home inspector can only provide a visual inspection. He does this by looking at the home’s various systems, including both the interior and exterior components. If he cannot gain access to certain difficult to reach areas, then they will not be included in his assessment. But the usual places that a home inspector checks include exterior components, such as roofing, flashing, chimneys, gutters, downsprouts, wall surfaces, the foundation, and the grading around it.

Interior systems that a home inspector will check include electrical, heating, air conditioning, ventilation, plumbing, insulation, flooring, ceiling and wall finishes, windows and doors. Fireplaces and wood stoves are not the areas of the home inspector. Only WETT (Wood Energy Technology Training) specialists are qualified to inspect those areas.

A home inspector does not appraise your home. Neither is he able to exact quotes for repairs or point out the noncompliance with building code requirements.

There is a lot of free information available to you about buying, selling or investing in real estate. For complete information about the real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything real estate. So please feel free to contact me with any of your mortgage questions and I will me more than glad to answer your queries. Call me on my cell at (904) 962-8404 or email me at kimsellsjax@gmail.com.