7 Signs You Could End Up A Millionaire

CNBC

 

© Business Insider  Do you invest consistently? Generate passive income? Are you decisive?

If so, you could be on track to become a millionaire. No one can guarantee you’ll reach seven-figure status, but if these routines, habits and personality traits describe you, you’re doing something right.

Here are 7 signs you could be on your way to striking it rich.

You have multiple streams of income

As author Thomas C. Corley found in his multi-year study of self-made millionaires, the rich “do not rely on one singular source of income,” he writes in “Change Your Habits, Change Your Life.”

“Sixty-five percent had at least three streams of income that they created prior to making their first million dollars,” Corley says, such as real-estate rentals, a side hustle or a part-time job.

You save to invest

“Investing money is how you will get super rich,” says self-made millionaire Grant Cardone. “The only reason to save money is to one day invest money.”

In fact, how much you save and invest is often more important than the size of your paycheck. As personal finance expert Ramit Sethi writes in “I Will Teach You to Be Rich“: “On average, millionaires invest 20 percent of their household income each year. Their wealth isn’t measured by the amount they make each year, but by how they’ve saved and invested over time.”

You surround yourself with high-achieving people

“You are only as successful as those you frequently associate with,” Corley says.

Steve Siebold, self-made millionaire and author of “How Rich People Think,” agrees. “Successful people generally agree that consciousness is contagious, and that exposure to people who are more successful has the potential to expand your thinking and catapult your income,” he writes in his book. “We become like the people we associate with, and that’s why winners are attracted to winners.”

You’re decisive

After studying over 500 millionaires, author Napoleon Hill found that they’re good at making choices. As he writes in his 1937 personal finance classic, “Think and Grow Rich“: “Analysis of several hundred people who had accumulated fortunes well beyond the million dollar mark disclosed the fact that every one of them had the habit of reaching decisions promptly.”

“Those who reach decisions promptly definitely know what they want, and generally get it.”

You have specific goals for your money

If you know exactly what you want, you’re one step closer to achieving whatever it is you’re aiming for.

Most self-made millionaires plan to get rich and then make it happen, Corley’s research finds. An overwhelming 80 percent of the wealthy are “obsessed with pursuing goals,” both daily and long-term, he writes.

Related video: This mindset is what separates the middle class from the millionaire class

You prefer books

The rich “would rather be educated than entertained,” Siebold writes in “How Rich People Think.”

They appreciate the power of learning long after college or any formal education is over, he says: “Walk into a wealthy person’s home and one of the first things you’ll see is an extensive library of books they’ve used to educate themselves on how to become more successful. The middle class reads novels, tabloids, and entertainment magazines.”

You think big

If you set your expectations exceptionally high and are up for any challenge, you’re on the right track. After all, “no one would ever strike it rich and live their dreams without huge expectations,” Siebold writes.

This is an update of a previously published story.

If you have questions about how investing in real estate to build wealth, give me a call and let’s talk!

 

   

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Lender’s Credit Score Requirements May Be More Strict Than Necessary

Lenders’ Credit Score Requirements May Be More Strict Than Necessary

FICO scores run from 300 to 850. Wells Fargo recently lowered in minimum acceptable scores for conventional loans to 620 from 660. Could this signal the start of some fresh thinking on credit scores? As Realtors, we certainly hope this is the case. As much as stricter credit scoring models were needed after the banking crash in late 2007, credit has been unreasonably tightened to the point that “good borrowers” were still unable to get loans. This includes First Time Home Buyers, the Self-Employed, and Move-Up Buyers who had to switch jobs or careers due to downsizing during the recession.

Are lenders’ credit score requirements for home buyers this spring too high — out of sync with the actual risks of default presented by today’s borrowers? The experts say yes. We agree.

What experts are we talking about here? The actual developers of the credit scores used by virtually all mortgage lenders. Executives at both FICO, creator of the dominant credit score used in the mortgage industry, and up-and-coming competitor VantageScore Solutions, confirmed that mortgage lenders could reduce today’s historically high score requirements without raising their risks of loss. In the process, many prospective buyers who currently can’t qualify might get a shot at a loan approval. This will be a good thing for buyers and sellers alike, and will help keep the housing market going in the right direction.

Consider this: Consumer behavior in handling credit is subject to change over time, often keyed to regional or national economic conditions. Credit scores that were acceptable risks in the early 2000s — say FICOs in the 640-to-680 range — turned into larger-than-anticipated losers when the recession hit. Now that the housing rebound is well underway and federal regulators have imposed tighter standards on income verification and debt ratios, the high credit score “cutoffs” that virtually all mortgage lenders imposed in the scary aftermath of the crash are stricter than necessary.

FICO scores run from 300 to 850. Lower-risk borrowers have high scores, and higher-risk consumers have low scores. Early in the last decade, a FICO score of 700 was good enough for an applicant to get a lender’s best deals or close to it. Today a 700 FICO just barely makes the grade — 50-plus points below the average score for home purchase loans at Fannie Mae and Freddie Mac, the big investors. Banks now need to package and sell their loans on the secondary market, and if a homeowner defaults on the loan and the Underwriter review team finds something potentially amiss, the bank or lender now has to “buy back” the bad loan. Not something lenders want to do in the aftermath of such past, big bank failures due mainly to bad loans.

  

Joanne Gaskins, senior director of scores and analytics for FICO, said that statistical studies by her company have demonstrated that “the risk of default on more recent mortgage vintages is better than at the onset of recession” — essentially real risk has reverted to the early 2000s. A lot more people pay on time. As a result, she said, lenders can afford to “take a look” at their current strict scoring requirements and consider lowering them without sacrificing safety.

To illustrate how consumer behavior has improved, Gaskins cited one internal study that examined mortgage default data through 2011. At a FICO score level of 700 in 2005, roughly 36 borrowers paid their loans on time for every one who went into serious default. In 2011, by contrast, for every one defaulting mortgage borrower, roughly 91 paid on time. That’s a huge decrease in risk to the lender.

VantageScore Solutions has documented a similarly dramatic improvement in mortgage borrower payment behavior. In an article scheduled for publication this week in Mortgage Banking, a trade journal, Barrett Burns, president and chief executive of VantageScore, offers an analysis based on scores of 680 and 620 from 2003 through 2012. VantageScore’s latest scoring model uses a high risk to low risk scale of 300 to 850.

According to Burns, the probability of default at both score levels was lowest in 2003-05, then soared between 2006 and 2008 as the economy began deteriorating. By 2012, both scores were just slightly higher than 2005’s.

Burns notes that although auto lenders and credit card banks have adjusted their underwriting standards to these important changes in borrower risk, “the mortgage industry has been hesitant.” In an interview, Burns emphasized that mortgage lenders could expand home purchase possibilities for large numbers of consumers simply by lowering score cutoffs. They wouldn’t have to loosen up on their standards on down payments or debt ratios — just their scores.

A study last year by the Urban Institute and Moody’s Analytics estimated that every 10-point reduction in mandatory credit scores on mortgages increases the pool of potential borrowers 2.5%. A 50-point cut in score requirements, researchers found, would increase potential home purchases 12.5% — more than 12.5 million households.

At least one major bank has concluded that lowering scores is the way to go. Wells Fargo , www.wellsfargo.com, recently announced reductions in minimum acceptable scores for conventional loans to 620 from 660. They are joining other major banks in lowering the acceptable score threshold for FHA loans to 600. See the article here from Bloomberg News.

Could this signal the start of some fresh thinking on credit scores, a trend that other large lenders will pick up on? Let’s see. If they do so, it should be a win-win for everybody involved.

Copyright  2014 New Home Buyers Brokers, Inc. / Realty Pros. With excerpts from: Kenneth R. Harney, Washington Post Writers Group

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Charlotte, NC Just Ranked # 1 City For High Pay, Low Expenses!

Stretching Your Money: The Best Cities For High Pay And Low Expenses
By Jane Wells

March 20, 2014 3:51 PM
Top/CNBC | Yahoo Finance.

It’s great to get a good-paying job. It’s even better when you live in a city where that good-paying job buys more. After all, $60,000 goes a lot further in Boise, Idaho, than Boston.

Wallethub has looked at average incomes across the country.

The most compelling information—for us at Top/Best/Most—is the list of cities with the highest annual incomes when adjusted for cost of living. One hint: they’re all in the middle of the country, and none gives you an ocean view, though one comes close.

No. 5: Colorado Springs, Colo.

The home of the Air Force Academy is also a hub for defense-related firms, and there are more than a few ice skaters here beneath Pikes Peak aspiring to become Olympians. The average annual income is $69,844 based on the 2012 census numbers, and the cost of living index is 92.8. (The lower an index score is below 100, the better.) When adjusted for that cheaper-than-average cost of living, it’s actually like making $75,263, according to WalletHub. But while all those Air Force types may be flying high in Colorado Springs, not everyone else is. Unlike Denver, here in Colorado’s second-largest city, the sale of recreational pot is banned despite a new state law legalizing marijuana.

No. 4: Houston

Here’s the one city in the top five where you will get an occasional ocean breeze … or just a lot of humidity. Houston makes the list because America’s in the middle of an energy boom. Oil, natural gas, wind, you name it, the boom is powering up average incomes to $69,421, with a cost of living index number of 92.2. Adjusted for cost of living, that’s like making $75,303 per year. Even though Houston incomes are slightly lower than the average in Colorado Springs, there are no state income taxes in Texas, helping Houstonians take home more cash.

No. 3: Austin, Texas

See above for an explanation of tax breaks stretching dollars in Texas. Austin makes the list because incomes are going higher as the state capital becomes a hub for tech and music and all things hipster-y. Austin is headquarters for Whole Foods, adding to the whole quinoa-eating, fedora-wearing, cage-free celebrating vibe. The city is also home to the nation’s largest urban bat population, and we all know how hip the whole vampire thing is. The cost of living index in Austin is 95.4, but the average income is $74,860, which can buy you a lot of organic gluten-free veggies. (I keep making fun of Austin because I’m jealous.)

No. 2: Atlanta

Hotlanta! This town is a peach of a place to live! Atlanta is headquarters to a wide range of successful empires like Coke, Home Depot, Delta Air Lines and Nene Leakes.

The cost of living index number is 95.5, the highest on the Wallet Hub list. But how affordable is housing? The average income in Atlanta is $78,505. The usual rule of thumb in determining home affordability is to multiply one’s annual income by 2.5. That would mean the average home price should be $196,000. Good news! It’s only $144,000, leaving Atlantans’ with more money to afford a high-end lifestyle worthy of a “Real Housewife.”

AND- TA-DA!!! INTRODUCING THE NUMBER 1 RANKED CITY: Charlotte, N.C.

WHAT?? WHERE?? WHO??? And what do bananas have to do with it all? Charlotte is the best city in America for good salaries and low cost of living. Turns out this town is a banking powerhouse, the second-largest financial center in the country behind New York, and New York is NOT affordable… at all.

  

 

Charlotte, NC (www.charmeck.org/city/charlotte/Pages/default.aspx) is headquarters for institutions like Bank of America, and is a major center for Wells Fargo, but Chiquita International also calls the city home, because Charlotte is so … wait for it … a-peeling. Hahaha. And why not? The cost of living index number is 93.2, the average annual income is $76,914 (which might feel more like $82,526 based on cost of living), unemployment is 6.6 percent and the so-called Queen City has even designated a local Dairy Queen a historic site. How cool is that? Source: WalletHub – www.wallethub.com

So- if you want to live large, and live it less expensively- check out the cities, above!

For more information on the lifestyle in Charlotte, NC or Charleston, SC (or other areas- we have a wealth of information on each city that we can share with you!)- Contact: Kristen Haynes, Realtor / Broker, GC, Certified Military Residential Specialist:

Direct: 704-905-4062 or Toll Free: 1-877-372-2252 or: khaynes@NewHomesNC-SC.com

Kristen Haynes, Broker In Charge, GC, Certified Military Residential Specialist, Realtor / Broker NC / SC

        

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Copyright © 2014 Realty Pros / New Home Buyers Brokers, Inc.

 

 

NEW FICO ‘SCORE NINE’ CREDIT SCORING SYSTEM ANNOUNCED, AND AN FHA LOAN MARKET UPDATE

NEW FICO SCORING SYSTEM ANNOUNCED AND FHA LOAN MARKET UPDATE March 18, 2014 Breaking News. FICO has announced that it will release the next broadly available version of the FICO Scoring System beginning this summer. INTRODUCING FICO ‘SCORE NINE”: Using a new, multi-faceted modeling approach, which combines sophisticated in-house analytic technology with insights gained over 50 years of building credit risk models, FICO ‘Score Nine’ will provide the best-in-class predictive power across all of the major credit product lines—home loans, auto loans, credit cards and personal loans—from loan originations, all of the way through managing and servicing the loan. FICO has also addressed lenders’ concerns regarding score consistency across the three major credit bureaus, and compatibility with previous FICO Score versions to ease adoption. The FICO Score continues to help keep lenders aligned with key compliance objectives and relevant government regulations. The FICO Score is the most widely used credit score in North America. Lenders purchased more than 10 billion FICO Scores in 2013, and 90 percent of all U.S. consumer lending decisions use the FICO Score. WHO WILL UTILIZE THE NEW FICO SYSTEM?: The 25 largest credit card issuers, the 25 largest auto lenders and tens of thousands of other businesses rely on the FICO Score for consumer credit risk analysis and federal regulatory compliance. “To become a widely adopted industry standard, a credit score must work well across industries, across all lending product lines and across the entire credit lifecycle,” said James Wehmann, executive vice president of Scores at FICO. “The major changes in the lending environment over the last few years demanded that we take a different approach to building a score that will continue to perform consistently well in various situations. We devised an innovative approach to developing FICO Score Nine that enabled us to leapfrog our own industry-standard benchmark. Our goal is to continue to support a financial ecosystem that includes lenders, securitization investors, rating agencies, regulators and other stakeholders who need a common risk benchmark.” Source: NAMP Daily – www.nampdaily.com HOMEPATH AND HOME STEPS OFFER FREE CLOSING COSTS AND OTHER INCENTIVES: Government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac recently introduced new incentives to bolster home sales through their HomePath and HomeSteps programs, respectively, which are designed to help the firms liquidate the real-estate owned (REO) properties they hold in their portfolios. Specifically, Fannie Mae is offering up to 3.5% in closing cost assistance on HomePath properties available in 27 states during the FirstLook period. During the FirstLook period, owner-occupant or public entity buyers are able to submit offers on HomePath properties, giving them the opportunity to purchase homes without competition from investors. Fannie Mae recently announced the extension of the FirstLook period from 15 days to 20 days. To be eligible for the incentive, the initial offer must be submitted between now and March 31, 2014, so there’s not a lot of time left to utilize this program (unless it’s extended). Homes using this incentive must also close on or before May 31, 2014. The incentive will offer qualified buyers up to 3.5% of the final sales price to pay closing costs. In addition, home buyers have a choice of $500 incentives they can use towards condominium association dues, flood insurance premiums or the home warranty of their choice. To qualify for these additional incentives, the closing must settle on or before May 30, 2014. The promotion does not apply to investor purchases, auction sales, sealed-bid sales and bulk sales, Freddie Mac reports. Source: MortgageOrb, www.mortgageorb.com For a list of available properties, call your local Realtor or go to: http://www.homepath.com.   AN FHA UPDATE AND PREDICTIONS FOR THE UPCOMING YEAR: Following the first-ever Treasury draw required by the Federal Housing Administration this year, the agency says it is back on stable footing and does not anticipate requiring Treasury assistance in fiscal year 2015. As reflected in the Obama Administration’s proposed budget for the coming fiscal year, both FHA’s forward and reverse lending programs are expected to be cash flow positive with the Home Equity Conversion Mortgage program anticipated to have a negative subsidy rate at -0.23%. A positive credit subsidy indicates the program would require cash to cover losses. In this case, however, the HECM program is expected to perform on its own, slightly above its break-even point. The earlier bailout to the tune of $1.7 billion was largely attributed to losses in FHA’s reverse portfolio. “The budget estimates the Mutual Mortgage Insurance Fund will have a positive capital reserve balance of $7.8 billion,” said FHA Commissioner Carol Galante of the entire fund outlook following the budget release. “We will not require a mandatory appropriation from the Treasury this year.” FHA touted its performance and positive outlook in the coming year, pointing to achievements such as reducing chronic homelessness by 16% and assisting 450,000 homeowners facing foreclosure through loss mitigation assistance in the midst of last year’s budget sequester. “This is more remarkable given the context in 2013,” Housing Secretary Shaun Donovan said. “Given the sequestration that cut across the entire federal government budget, HUD was faced with finding ways to cut 5% from our budget with very little time to prepare and just seven months left in the fiscal year. We made some extremely difficult choices. We’re proud of what we did to provide best possible outcomes.” Source: Reverse Mortgage Daily – www.reversemortgagedaily.com Congress’s lack of progress on reforming the U.S. housing-finance system shouldn’t be “an excuse” to delay rebuilding the market for private-label mortgage securities, a senior U.S. Treasury Department official said recently. “Many investors have told us that they can and want to take mortgage credit risk,” said Michael Stegman, housing-finance counselor to the Treasury secretary, in prepared remarks at a research conference in New York. Adding simplicity and transparency is a key first step, he said. “To get back to an efficient, responsible, and sustainable level of complexity, and to rebuild trust, the new issue non-agency market must first follow a path of greater standardization and transparency,” Stegman said. Federally controlled buyers Fannie Mae and Freddie Mac have been in a conservatorship since 2008, an arrangement that has lingered with U.S. lawmakers disagreed over the appropriate role for government in housing finance. Source: Market Watch – www.marketwatch.com. EASIER QUALIFYING EXPECTED FOR FHA MORTGAGE BORROWERS: First-time and low-income borrowers may have an easier time qualifying for a Federal Housing Administration loan. Ginnie Mae, a government agency that issues bonds backed by FHA loans, reports that the average credit score on FHA-backed loans fell to 680 in 2013, and the average debt-to-income ratio rose to 40.3 percent — both indicators that credit may be easing. In comparison, Ginnie Mae reported in January 2013 that the average score was 701 and the debt-to-income ratio was 38 percent. “The FHA theoretically allows scores as low as 580,” the L.A. Times reports. “But lenders, buffeted by defaulted loans and demands that they buy back troubled loans that they sold, generally have set standards higher since the financial meltdown.” Source: The Los Angeles Times – http://www.latimes.com A Note from Kristen: Actually FHA allows scores down to 500, but requires a down payment of 10% below 580. But many lenders do not want to underwrite loans under 640 (580 is the absolute minimum I have seen here in Charlotte, NC, and those loans also come with higher loan origination fees and interest rates). While many lenders have lowered minimum scores, FHA’s quality assurance initiatives ensure that lenders will still be underwriting their files under a microscope and looking at the loans carefully, because lenders now have to buy back their “bad” or defaulted loans if any errors are found in the original underwriting process.  Copyright © 2014 Realty Pros / New Home Buyers Brokers, Inc. Kristen Haynes, Broker In Charge, GC, CMRS  Web: www.NewHomesNC-SC.com         Name(required) Email(required) Website Comment(required) Submit Δ

 

BUYING A HOME IS NOW 38 % CHEAPER THAN RENTING

Buying A Home Is Now 38% Cheaper Than Renting

Is renting or buying a better financial bet? Every six months, Trulia’s chief economist Jed Kolko runs the numbers to answer that question and help you stay on top of the trends.  So what does Trulia’s Winter 2014 Rent vs. Buy Report tell us? Although the gap between renting and buying is narrowing across the U.S., homeownership is still 38% cheaper than renting.

Homeownership remains cheaper than renting nationally and in all of the 100 largest metro areas according to Trulia TRLA -2.21%’s latest Winter Rent vs. Buy report. Rising mortgage rates and home prices have narrowed the gap over the past year, though rates have recently dropped and price gains are slowing. Now, at a 30-year fixed rate of 4.5%, buying is 38% cheaper than renting nationally, versus being 44% cheaper one year ago.

Will renting become cheaper than buying soon? Some markets might tip in favor of renting this year as prices continue to rise faster than rents and if – as most economists expect – mortgage rates rise, due both to the strengthening economy and Fed tapering.

For each metro, the economists identified the mortgage rate “tipping point” at which renting becomes cheaper than buying, given current prices and rents. If rates rise, Honolulu would become the first metro to tip, at a mortgage rate of 5.0%. San Jose and San Francisco would also tip before rates reach 6%. But those are the extreme markets. Nationally, rates would have to rise to 10.6% for renting to be cheaper than buying – and rates haven’t been that high since 1989.

The rent versus buy math is different in each local market. Buying ranges from being just 5% cheaper than renting in Honolulu to being 66% cheaper than renting in Detroit. But even for a specific market, like ours here in Charlotte, NC, the cost of buying versus renting is cheaper- especially with interest rates hovering around 4.50 %! In the Carolinas, we hover somewhere in the 20% range, (cheaper to buy than to rent), with urban cities like Charlotte, or Raleigh, NC leading the surge.

The bottom line: Buying Beats Renting Until Mortgage Rates Hit 10.6%

Even though prices increased in most markets over the past year, low mortgage rates have kept homeownership from becoming more expensive than renting. Also, in some markets, like San Francisco and Seattle, rents have risen sharply; rising rents hurt affordability relative to incomes, but rising rents make buying look cheaper in comparison.

Thanks, Trulia, for all of the good data. But, really, what does it mean to me personally?

Here’s a Realtor’s take on all of this data:

Non-withstanding all the numbers, above, I am going to add some other wrinkles to the equation for you to think about when measuring the equation.

When you rent a home, you don’t get any of the benefits of home ownership- which would be mortgage deduction, which can be substantial, as well as the ability to write off the majority of your property taxes. Don’t kid yourself- if you are renting, you still pay these “fees”, but it’s in the form of rent (your landlord is covering those costs in the rental of the unit- and the landlord is the one who now benefits from the write offs,- not you)!

For argument’s sake- let’s assume that you are comparing renting a 1400 square foot, 3 bedroom, 2 ½ bath condo in Uptown Charlotte, that rents for the market rental rate of $1700.00- versus purchasing a 2300 square foot, 4 bedroom, 2 ½ bath home in the same area of Charlotte, NC, priced at $260,000.

The home sales price that you and your Realtor negotiate for the home ends up being $250,000 (and in the Charlotte, NC and Charleston, SC markets, the seller may even kick in additional money towards closing costs and a warranty, on top of the money off of the sales price, depending on what else you are asking for in the offer. Closing costs in our area generally range somewhere between 2 to 3 % of the loan value- usually with a max contribution of no more than 6 % from the seller).

You can use the free mortgage calculator on our website and check the estimated payment on any loan amount by clicking on: http://www.newhomesnc-sc.com/mortgage/calculator. Keep in mind that this will not take into account any closing costs that you or the seller pay towards your loan, which will be on top of your down payment.

Okay, so you found a couple of great options. You looked at your finances, got pre-approved by a local lender, ran the mortgage calculator to get a comfort level for what you can realistically afford, and have decided that IF you buy a place, you are going to put down a 10 % down payment. You decided that if you decide buy versus rent, you will plan on getting a fixed rate, 30 year loan, currently at 4.50 %- this with no points (which is a fancy term for extra money paid to the lender to buy down the interest rate).

Here’s how the math works: Assuming you are in a 34 % tax bracket (this changes with your income level, so check with your accountant if you are not sure), here’s how it breaks down as a comparison:

For a home worth $250,000 with a 30 year, fixed rate loan of 4.50 % and a 10 % down payment, vs. renting a similar place for $1700 a month in rent:

Sales Price of Home:                              $250,000.00               *See Note, below

– Down payment of 10 %:                      -$25,000.00   

= Financed/ Mortgage Amount of:       $225,000.00   

If you are obtaining a mortgage, here’s your PITI (Principal, Interest, Taxes and insurance), or total housing payment, based on a $225,000.00 mortgage for 30 years @ 4.50 %, assuming you have a tax bracket of 34%:

Principal and interest:                              $1140.00

Taxes (City of Charlotte):                            $267.50

Homeowner’s Insurance:                             $28.00

Total Monthly House Payment:           $1687.50

• Note: In the above example, the property taxes are based on the tax value or sales price of $250,000.00, The principal and interest are based on the lower, mortgage financed amount of $225,000.

Now, here’s the fun part, and what most people miss when looking dollar for dollar at renting versus buying:

You can write off a BIG portion of your mortgage payment and taxes, so this is how it compares, financially speaking. Here’s how to figure it out:

STEP ONE: Take your Principal and Interest payment and multiply times your tax bracket- in this case, $1140.00 x 34 %. That figure is: $387.60.

STEP TWO: Subtract the $387.60 from the P & I of $1140.00, which equals $752.40

STEP THREE: Take your Property Taxes and multiply times 98 (since you can write off only 98 % of your taxes). That figure, using our example, above, is $262.15. That you write off and take off as a debt. That’s all of your property taxes, less a difference of – $5.35 per month. That leaves you with a write-off for taxes in the amount of $262.15.

STEP FOUR: Subtract the amount of taxes that you cannot write off from the total monthly tax bill, which is the $5.35, and add it to your revised monthly Principal and Interest. That means taking the $752.40 and adding $5.35, the portion that you cannot write off and have to pay for, (just like rent)- for a total of $757.75.

So, by breaking it down, you can see that your actual payment for the home is really more like $757.75, compared to what “seemed” like the cheaper option of renting a home for $1700.00!

 

Renting a Home– Monthly Payment- Actual Cost:    $1700.00

Buying a Home– Monthly Payment- Actual Cost:       $757.75

Monthly Difference / Savings to buy your home, versus renting one: +  $942.25

This is NOT a “slash in the pan”, trick of hand game to convince you to buy a home. It is the ACTUAL SCENARIO, using REAL MATH, and the tax benefits that are available to all of us in the United States of America- and it’s a classic example of why many people BUY instead of RENT a home.

Of course, on TOP of all of this good news, most economists agree that since the housing crash first hit in late 2007, we have hit the “bottom of the barrel”, statistically speaking, of downward trends in housing prices in most markets, nationwide.

Home prices are starting to trend upward in a major way- which means that if you rent for another year or two, you may be paying 20 % (or more) for the same, exact home!

Any accountant will tell you that anything that appreciates in value positively adds to your overall financial well-being, and therefore, contributes to your bottom line. A car is generally a depreciating asset, unless you are a collector. A house is historically an appreciable asset (depending on what you buy it for and what you sell it for- sometimes even taking a loss can helps you, tax wise). A good general rule of thumb is to buy your home if you feel that you are going to be in the home long enough for it to make sense for you to not rent (ie, two to seven years), so you can take advantage of the mortgage deductions, home appreciation and tax advantages when you sell.

Now, if you are not sure that you want to stay in your current job or city or don’t want the hassle of home ownership (paying out of pocket for repairs), then maybe buying a home is not for you.

However, keep in mind, that there are Home Warranty companies that can take care of a service call for $65.00 a trip. You will pay for a yearly policy (they run about $369.00 per year in our market), and you can use it for most repairs that come up, with that trip charge as your only additional cash outlay. For example, the water heater stops working or the dishwasher needs repair. When you rent, it is obviously your landlord’s responsibility to repair anything mechanical or structural that breaks down. But, remember, HE is the one pocketing the tax and mortgage interest deductions savings every month and every year, so he probably has wiggle room in there for repairs!

And, true, in the above scenario, you have to come up with a down payment. If you qualify, though, are plenty of lower down payment options out there. You may qualify for a zero down or reduced, FHA down payment (currently 3.50 %). If you are a law enforcement professional, and EMT, a teacher or a nurse, you may qualify for a $100 Down, Good Neighbor Next Door loan. If you buy a foreclosure, HUD or Bank REO home that is distressed and it needs repairs, you may qualify for a Streamlined 203 K FHA loan (to buy the home with a 3.50% down payment, PLUS, get money for future repairs). And, with most FHA loan programs, the down payment can even be a gift from a relative. See the link at: http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/sfh/reo/goodn/gnndabot

No matter what type of financing you choose, if you buy the house in the above scenario for $250,000, and you sell it in five years for $300,000, you just made $50,000- or $10,000.00 a year. In today’s environment, making $10,000 per year on an initial investment of only $25,000 (the cash / out of pocket down payment in the scenario, above) is very difficult to do, even with a safe investment like a bank CD! You certainly won’t make that at the current market investment rate of 2 percent!

How about EVEN MORE good news? When you sell that house to move up to buy a bigger one, you get to WRITE OFF THE TAX / ie, PROFIT, without paying “Capital Gains taxes” on the transfer of the money (like you would if you sold shares of stock). That’s right- you can write off $250,000 (if filing separately), or $500,000 of the profit (if filing jointly / married)- ALL OF IT 100 % TAX FREE! You can do this, again and again- not just one time, like in the past! One caveat, though- you have to physically live in the home for 2 out of 5 years to use this tax advantage. It can’t be just a rental. Sure, you can rent it for three out of five years- but you have to actually live there for 2 years during that 5 year minimum time frame.

That’s a serious use of smart money that any one can take advantage of! See this article, brought to you by www.Bankrate.com, for an easy explanation of how to use the $250,000 / $500,000 exclusion: http://www.bankrate.com/finance/money-guides/home-sale-capital-gains-1.aspx

That’s it in a nutshell, folks! If you have any further questions or comments, feel free to comment or contact me to discuss how it applies to your specific situation.

Please note that we are not accountants or economists, and your situation may differ from the above scenario. But, generally, this is a good ‘rule of thumb” to use as a guide as to whether buying or renting is the best option for you.

Have questions or want to see what is available for sale in the Charlotte, NC or Charleston, SC areas? Contact me for a list of properties in your area:

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Direct: 704-905-4062 or Toll-Free: 1-877-372-2252

Kristen Haynes, Realtor, BIC, GC, CMRS New Home Buyers Brokers / Realty Pros

Email: khaynes@newhomesnc-sc.com

Web: http://NewHomesNC-SC.com

         

http://www.youtube.com/watch?v=0VT-dxbePQs&feature=youtu.be

Broker In Charge, Unlimited Building General Contractor, Certified Military Residential Specialist
Boards: 2009-2014, Professional Standards Committee, Charlotte Regional Realtor Association
2008-2009, Independent Broker Owner Council, Charlotte Regional Realtor Association
Member: Charlotte Regional Multiple Listing Service, Charleston-Trident Multiple Listing Service, National Association of Realtors, National HUD Broker, Charlotte Regional Realtor Association, NC Licensing Board for General Contractors, BBB. EHO.

Copyright 2014 New Home Buyers Brokers / Realty Pros

FANNIE MAE IS NOW GIVING AWAY A FREE 3.50 % DOWN PAYMENT FOR A LIMITED TIME TO HOME BUYERS WHO QUALIFY!

 FANNIE MAE IS OFFERING A FREE 3.50% DOWN PAYMENT (AND OTHER INCENTIVES) FOR A VERY LIMITED TIME!

Please distribute to your network, so as many people as possible have the opportunity to benefit from this unique, one-time deal, never before offered by the federal government!

To reduce its inventory of foreclosed homes, Fannie Mae is now offering qualified owner-occupant purchasers cash incentives toward closing costs in the amount of 3.5% of the purchase price of a home!

By Kenneth R. Harney February 27, 2014, 5:00 a.m.

WASHINGTON — If you’re planning to shop for a home in the next few weeks, here’s an early spring buying season come-on that just might save you some money if you qualify. Fannie Mae, the largest mortgage investor in the country, has a bulging portfolio of houses acquired through foreclosures nationwide. About 31,000 of these properties are listed on its resale marketing site.

To move them quickly out of inventory, Fannie Mae temporarily is offering qualified owner-occupant purchasers — but not investors until after a waiting period — cash incentives toward closing costs of 3.5% of the purchase price. But you have to submit your initial offer no later than March 31 and close by May 31.

What sort of houses are we talking about? Have your Realtor send you information or go to: www.homepath.com and you’ll see. They run the gamut — from a one-bedroom condo in San Diego to a four-bedroom, four-bath single-family home in suburban Montgomery Village, Md. Some states have thousands of HomePath listings online: Florida has nearly 12,000; Illinois, 4,360; Ohio, 2,800; California, more than 2,300; Washington state, nearly 1,800; and Nevada, about 1,400.

Asking prices range from $30,000 to $600,000 or more. On a $400,000 house, the 3.5% closing cost incentive would amount to $14,000. • Also • Finding ways to help young adults make their first home purchases • Strategies for getting a mortgage amid tougher federal rules • Mortgage servicer shenanigans keep consumer watchdogs busy. To ensure that buyers who intend to occupy its homes get an opportunity to fully check them out and bid without competition from investment groups offering all-cash deals, Fannie has instituted what it calls a First Look program. It essentially prohibits bids from investors on properties during the first 20 days after listing (30 days in Nevada).

After that, investors are free to jump in. Each First Look listing has a countdown clock attached to it that indicates the number of days remaining before bidding is opened to all comers. The new 3.5% closing cost offer is available only during active First Look periods from mid-February through March, so there’s not a lot of time to get involved. Bidders will need to indicate upfront that they want to be considered for a closing-cost discount. Who is eligible? First, you’ve got to be a bona fide owner-occupant purchaser and commit to live in the house as a primary residence for at least a year.

You’ll need to fill out a certification to that effect that can be found on the site. Properties are not available in all states. You don’t have to be a first-time buyer, though the Fannie program is likely to attract substantial numbers of them. The 3.5% closing cost discount helps with one of the biggest problems faced by first-timers — upfront cash. As with most home purchases, you’ll need to be able to qualify for mortgage financing. Though Fannie may end up owning or securitizing the loan you obtain, it won’t be financing you directly.

On HomePath purchases, you shop for a mortgage just as you would on any other house. Ideally, you nail down a financing source and get prequalified for mortgage money up to a specific dollar limit at current interest rates. If you’ve already located a First Look property and qualify, the lender is likely to take the 3.5% closing cost incentive into consideration in evaluating your application.

While you shop on HomePath, however, keep this important factor in mind: These are foreclosed, previously occupied homes. Though some of them are repaired, painted and spiffed up before they are listed, many could use some additional work. They are sold “as is” and that’s built into the pricing. Fannie identifies what it calls “improved” properties on the HomePath site — those that have undergone significant repairs — with either the “Home Depot” logo (when repairs have been made by contractors from that company) or a hammer and roof symbol (when repairs have been completed by independent contractors hired by Fannie).

Your Realtor will help you make a bid on the property of your choice. It’s best to use the service of an experienced Realtor due to the myriad of contract provisions that need to be met throughout the process (like home inspections, de-winterizing a property for inspections, using an approved lender and attorney, etc). You may also want to check out other sources for distressed properties with your Realtor, such as HUD homes: www.HUD.gov.

Your Realtor / Broker will be experienced with distressed properties, such as foreclosures, pre-foreclosures, and HUD homes, and will be a vital resource to help you navigate through the maze of these type of purchases (one thing is for sure- these deals do not work like “normal” home purchases).

If you can’t find the First Look house you want, don’t give up. Freddie Mac, the other giant federal mortgage investor, also has thousands of foreclosed homes that it’s trying to dispose of — and its own First Look program — at its Home Path marketing site. Though Freddie Mac currently has no closing cost incentive offer, it does provide a $500 allowance toward the purchase of a home warranty policy, and it promotes special mortgage financing options on houses in some areas. If you qualify, that could mean a loan with no mortgage insurance, no appraisal and a 5% maximum down payment.

Want to know how much home you can qualify to buy? Contact Jenny Stoner or Kim Venable of Fairway Independent Mortgage Corporation: http://fairwaync.com

These are definitely worth checking out, whether you are on the fence about buying a home, or you are a seasoned investor looking for an extra-special deal!

Contact me for a list of properties in your area:

Direct: 704-905-4062 or Toll-Free: 1-877-372-2252.

Kristen Haynes, Realtor, BIC, GC, CMRS New Home Buyers Brokers / Realty Pros

CONTACT ME:

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Email: khaynes@newhomesnc-sc.com

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http://www.youtube.com/watch?v=0VT-dxbePQs&feature=youtu.be

Broker In Charge, Unlimited Building General Contractor, Certified Military Residential Specialist
Boards: 2009-2014, Professional Standards Committee, Charlotte Regional Realtor Association
2008-2009, Independent Broker Owner Council, Charlotte Regional Realtor Association
Member: Charlotte Regional Multiple Listing Service,Charleston-Trident Multiple Listing Service, National Association of Realtors, National HUD Broker, Charlotte Regional Realtor Association, NC Licensing Board for General Contractors, BBB. EHO

Tips on How To Buy Foreclosure, HUD Homes and REO / Bank Owned Properties

 Expert Tips on Buying Foreclosure Properties

Brought to you by Kristen Haynes, Realtor / Broker In Charge of New Home Buyers Brokers / Realty Pros. Licensed in NC / SC since 1992.

If you’re thinking about purchasing a Foreclosure HUD Home or Bank Owned (REO) Property, use this informative guide to explain what happens throughout the complex Foreclosure ‘home buying’ process.

This was prepared to be an informative guide in the Foreclosure / Bank REO Purchasing process. The information contained herein is designed to create an informed consumer and to lessen the stress of the home buying process for future home buyers who are considering purchasing a Foreclosure, Pre-Foreclosure, bank owned (REO) or HUD property. Here’s a helpful link to HUD about buying government owned properties and foreclosures: (http://portal.hud.gov/hudportal/HUD?src=/topics/buying_a_home).

How to make an Offer- Your Realtor / Broker will help you find and make an offer on all foreclosure or pre-foreclosure properties that interest you. Once you identify the “right” property, you and your Realtor will fill out the offer using the bank or government (HUD)’s forms and addendums (not using your state’s  “normal” Offer To Purchase and Contract form that is typically used in your area). The MOST important thing to remember when purchasing a foreclosure, short sale (pre-foreclosure, where the owner is still on the title, foreclosure proceedings have commenced, but the bank does not yet have the house back), HUD home or distressed bank property is that NOTHING works the same as what you’re used to!

For statistics and trends in your area, and to get a “feel” for what is happening in your particular market, contact your local Realtor. You can do a nationwide search on our web site at: http://www.newhomesnc-sc.com. Another good source to start gathering information is: http://www.realtytrac.com/statsandtrends. Simply pick the state, city or zip code that you are interested in, and it gives you loads of market information to help you start your search.

REO (Real Estate Owned) Departments & Asset Managers require that all offers are to submitted be on their “Offer Worksheet”, or the online offer equivalent. If you are purchasing a HUD home, you must use HUD specific forms, not available to the general public. It must be filled out, in person, in triplicate, plus your Realtor / Broker will be required to make an online bid on your behalf. Bids must be submitted by an approved HUD Broker (go to: http://find-a-hud-home-today.com/find-a-hud-approved-broker). You must also use an approved HUD lender, and use the HUD approved attorney for your area. Double check before you start the process that your lender is HUD approved, if you are getting a loan.

You will have to provide a bank or cashier’s check with the offer in the amount that HUD specifies as the minimum (this is based on your offer price), a copy of your driver’s license or equivalent, and your social security number. If one tiny item is missing or out of place, your bid will be rejected, and you and your Realtor could lose the bid that would have been awarded to you. In most cases, it will then go to a second party, and you will have to start the house hunting process all over again!

It’s important to note that in most circumstances, HUD or the banks will have a “waiting period” of at least 11 days for investors- ie, non owner-occupants. They usually reserve a set period of time to try to first sell the homes to people who will occupy them, not rent them out. You will have to make a statement as to which type of buyer you are, and not being honest about it is a federal crime.

In addition to the contract, there are many additional addendums that you will also be required to sign. People feel like they are in “paperwork overload”! These addendums basically state that that you are purchasing the home “As-Is”, what your purchaser status is (ie, owner occupant or investor), and have other clauses to protect the seller. With HUD homes, usually there will be a “condition property report” attached, which shows you the result of any inspections that have already been done on the property and the problems with the home that have been identified. That does not mean that the inspections, however, FOUND everything. The homes are still sold “as-is”, buyer beware. Most pre-foreclosures and foreclosures do NOT have a property disclosure, so it’s best to have the home inspected or walk through with your friendly GC before you make a bid. Once your offer is awarded and the contract is executed (signed), you have a binding contract, and your earnest money is fully at risk if you try to back out because you found a defect later on.

The Bank Asset Manager’s role: – Your Realtor will also have to provide an Excel worksheets to the person handling the foreclosure file, and this person is the Bank Asset Manager. This worksheet simplifies the process for the Bank’s Asset Manager, because each Manager has hundreds of assets under management, and often in multiple states with vastly different forms. This is the main reason why people complain that they “don’t hear back or get updates” like they expect with their other “normal” past home purchase offers. You may end up in a multiple bid situation, and not know for weeks or months whether you “won the bid” or not. But remember- no news is good news, until you hear otherwise. Upon acceptance of the offer, all documents are sent by email or mail to the seller/ Asset Manager to your Realtor / Broker.

Presenting an Offer- All offers must be presented with earnest money (with a certified / bank check) AND a mortgage pre-approval from a major lender. They may even require you to get “pre-approved” with their own lender (though you do not have to use them for your financing). There are NO exceptions to the rule, so get approved with the lender PRIOR to submitting an offer, unless you are paying cash. Cash is always “king” when banks weigh different offers on the table- they don’t like worrying that a buyer’s loan may not be approved while it ties up their property. They know that by waiting for your loan approval, they may lose another buyer in the meantime. They will accept no Promissory notes, or offers contingent upon the sale of another property. “Cash” offers MUST be accompanied by proof of funds from your financial institution, proving that you have enough funds to complete the purchase.

How long before we (the Agent & Home Buyer) hear back?- The timing varies depending on the institution, the time of the month (month’s end taking longer), and the Asset Manager’s file load. Often the institutional seller is in a different time zone that creates delays in response times. Additionally, the more complex the offer, the more conditions that have to be met (inspections, appraisal, etc.), the more likely that approvals or responses have to come from “management,” again delaying response times. Your Realtor will be constantly checking the status of their files- and they will forward the information as soon as it becomes available to them.

Expect a slower-than normal process with little communication- Bank Asset Managers have a large number of foreclosures and pre-foreclosures under management, and do not respond to multiple and/or daily queries, no matter how anxious you are to hear news of your offer’s status. Continued multiple and/or daily queries slow down the process for everyone involved.
Try to remember that while these deals can be stressful, your Realtor, the other Realtor, and the bank are all working towards the common goal of closing on the subject property. Bank deals and short sales do not operate with the “same set of rules” as other homes or purchases you may have made in the past.
IF YOU HAVE NOT HEARD ANY RESPONSE FROM THE BANK, IT IS BECAUSE THERE IS NO UPDATE TO GIVE YOU YET. THERE MAY BE MULTIPLE OFFERS ON THE PROPERTY, OR THEY MAY BE IN THE “DUE DILIGENCE” PROCESS, OBTAINING A BPO (MARKET VALUE ANALYSIS) OF THE HOME, OR MAY BE WORKING THROUGH A FORECLOSURE HEARING OR BANKRUPTCY TRUSTEE.

Counter offers and extensions- Since all offers are submitted on the worksheet or online, if your offer is countered, it will be in the “worksheet” format, which will probably be unfamiliar to you. Once an offer is accepted, the entire “package” ie, the offer is put on the REO worksheet, counters addends, copy of the check, etc, is sent to the REO department for additional bank signatures. At this time, you, as the buyer, may be required to sign additional addendums. The banks or HUD *may* grant you an extension if, through no fault of your own, you need an extra week or two to close the loan. They have forms for that that your Realtor / Broker can obtain. However, they do not HAVE to grant an extension. That’s why it is a good idea to get your ducks in a row, your loan fully approved, and any appraisals done asap. They will also charge you for each day of the extension!
Why have we received the seller’s offer or counter offer with no signatures?- These forms are generated by the Lender’s REO manager and often come to the listing agent as an email attachment once the verbal agreement has been accepted. Once an agreement is in place, the file is then given to corporate management for signatures to match yours.

If you are obtaining a loan to purchase the property, this is the time to make sure that you get all of you paperwork- including all W2s, tax forms for the past two years (yes, they must be filed with the IRS, not just “in process for you to use that tax year to qualify), all wage or alimony and child support statements, any filed separation agreements, etc.) to your lender (unless it’s a cash offer), so they may begin the loan process. Realistically, you should start this process and be “ready to strike” before you find the perfect home, because it will make your deal MUCH stronger to the bank’s underwriters if you are getting a loan. Keep in mind that when dealing with a bank, they may have odd hours, in different time zones, and do not work weekends- so seller signatures can take a week or two to get back. Also, if you cause a delay in closing, Asset Managers will charge “per diem” charges (of they don’t cancel your bid and take another contract) if the loan is not ready to fund and close by the agreed-to  closing date.

Verbal agreements- Once you are informed that your offer is accepted, it is. (acceptance may be accompanied by a worksheet that your Realtor may be required to also have you sign). Generally, this will be emailed to your Realtor by the Asset Manager. REO departments and asset managers give the “ok” verbally, and then their worksheet automatically goes to their manager for signatures. Some asset managers require original signed documents. Be prepared to overnight all original documents and addenda with accepted offer.

Time frames-  Generally you will have 30 to 45 days from mutual acceptance of the contract to close the transaction. If you are paying cash, you could close in as little as 14 business days in most cases- IF the bank is ready. They set the closing time frame. With HUD, it is generally 45 days. With banks, it can be anywhere from 15 days to 60 days. With Pre-Foreclosures, it depends on where the bank is in the process of foreclosure. There are many steps that the bank must take to either foreclose and re-sell or clean up title and issues with the seller prior to foreclosure to make it all happen. Often, the proposed closing date on the original offer is unrealistic due to the elongated negotiation and acceptance process with the REO departments. The Asset Manager knows that there is no way that you can close in two weeks, unless you are paying cash and have no upcoming appraisal or inspections. Asset Managers know that appraisals, inspections and the loan process take time. They will assume that you have taken the time prior to making an offer to inspect the home and to become pre-approved for the loan and that there will be no trivial delays beyond the 30 (to 45) day closing period. Read the bank addendums carefully-there is usually a per diem late fee assessed for delayed closings- if they allow you to extend, at all.

Loan delays- The seller will not suffer delays due to the purchaser’s lender not performing in a timely manner. Begin your inspections upon being alerted that your offer is accepted.

Short sales- Short sales can take four to six months, or LONGER, depending on where the seller is in the process. With short sales, your bid is open for overbidding by other purchases while your offer is on the table, so you could wait six months for a home, only for the bank to hold off on signing any offer until the last minute- and then it could go to another purchaser. Be VERY careful with short sales if you are not a seasoned investor.

Also be aware that most lenders will not allow you to “lock your rate in” without a substantial charge for more than 60 days. If possible, purchase your property with cash (even if from a home equity line). Banks believe “cash is king”- there will be no loan issues or delays, so they will take your offer over another one with a loan if they are anywhere near close if you have cash and they have to get a loan.

If you have to get a loan, make sure that you are FULLY loan approved (you have gone to the lender and have been through the entire approval process (you have given your paper copy W2’s and past two years of wage and taxes to the lender and underwriting has approved your loan, subject to only an appraisal on the property), it will also help your chances exponentially to be the winning bidder.

Closing and title companies to close escrow- Like it or not, the REO company usually chooses the closing attorney or title company. This is due to the fact that they have significant amounts of title work done during the foreclosure process and it makes it easier to use companies who are familiar with their unique process. It may take a week to receive closing instructions. It is typical during this time to hear “nothing”. This is normal.

Inspections & utilities- Most times, the utilities are off at the home you have made an offer on, or it has been winterized, and has to be “de-winterized” for the utilities to be turned back on for a home inspection. It is absolutely essential that you give the bank up to a week’s notice of your upcoming inspection dates, prior to scheduling your inspection.

You, as the buyer, generally are responsible for any fees to re-connect the utilities. Make sure to have your Realtor check on who is responsible for paying these fees and / or calling utility companies to set these up. Addendums with your contract usually require that you, as the buyer, assume those responsibilities and associated fees.

It is not a bad idea to visit the property a couple of days prior to the inspection to check if the utilities are actually ON and that the systems are working. For example, you may need to light a water heater pilot light to allow the water heater to heat up enough over a day to be able to be checked.

“As-Is” condition– Banks sell property assets in AS-IS, Where-IS condition. As a rule, only in certain instances will the bank consider repairs. What you ask for upfront is all you will get. Asset managers have “caps” on concessions they are allowed to give on each file and took the “As-Is” condition into account when they accepted the terms of your offer. Repairs will not be authorized to be completed prior to closing, so you have to close to start work, clean the carpeting, etc.

Closing– Congratulations! Your Realtor will make sure to help you complete all lender requirements to obtain final underwriting (don’t be surprised when the underwriter kicks the loan back multiple times, asks for multiple explanations and additional documents- this is the lending environment we live in today). Expect to be exasperated and hounded for documents at any given moment and you will be better prepared for the onslaught! Many people are like, “what, do they want my first born”?!?

If you are obtaining a loan, expect to be inundated with seemingly ridiculous requests throughout the process- even two days before the closing, your Realtor / Broker will work with the lender, bank, Asset Manager, Attorney and other service providers to get you through to a successful closing. They will help review the loan package, HUD 1 closing statement, and help you navigate your way through to a successful closing on your “foreclosure home of choice”!

If you have any further questions or need help finding a foreclosure home, call me anytime- we are “Foreclosure Specialists” in the greater Charlotte, NC and Charleston, SC metropolitan areas.

Stay Tuned for the next blog in our series: “How to Find the Best Foreclosure Properties”

Call or email me today:
Toll Free: 1-877-372-2252 or Direct: 704-905-4062
Kristen Haynes, Realtor, BIC, GC, CMRS
New Home Buyers Brokers / Realty Pros

Email: khaynes@newhomesnc-sc.com
Web: http://www.NewHomesNC-SC.com

        

 

                                                                                                                                                   Kristen Haynes, President / Broker In Charge, Realtor, NC / SC

Unlimited Building General Contractor, Certified Military Residential Specialist

Boards:
2009-2014, Professional Standards Committee, Charlotte Regional Realtor Association

2008-2009, Independent Broker Owner Council, Charlotte Regional Realtor Association

Member: Charlotte Regional Multiple Listing Service,Charleston-Trident Multiple Listing Service, National Association of Realtors, National HUD Broker, Charlotte Regional Realtor Association, NC Licensing Board for General Contractors, BBB / MLS / EHO

Copyright 2014 New Home Buyers Brokers, Inc. / Realty Pros