SD HUD Homes

Buy a HUD Home: FHA Homes for Sale

2012-01-23T04:46:00.000-08:00

HUD offers a lot of FHA foreclosed homes with a reasonable price. A HUD Home refers to a property bought with an FHA mortgage which will then be foreclosed and the ownership will be transferred to the Department of Housing and Urban Development (HUD). The HUD now owns the property and opens it for sale to make up for the loss during the foreclosure.

A HUD Home can be bought if one has enough money or you qualify for a home loan to buy the property from the HUD. Although HUD doesn’t offer direct home loan, there are lots of lenders who offers home loan and FHA also offers home loan. It is first sold to people who will make it their primary residence. However, if the property is not bought by an occupant, it will then be sold to all buyers including the investors.

HUD Homes are sold through a bidding process which requires you to have your very own real estate agent who will do the bidding for you. If your bid wins, your real estate agent will be notified. If the offer period is done, your real estate can still submit your bud if the property is not yet sold.

Keep in mind that HUD Homes are sold in an “as-is” condition and the HUD is not responsible and won’t shoulder should a repair is needed in the home.

http://www.sdhudhomes.org/ provides best HUD Homes to Homeowners, Buyers and Investors.

Porama Srijinda, MBA.

REALTOR®, CIPS

Broker Associate at Keller Williams Realty.

Authorized HUD Agent. Short Sale and Equator Experiences,

Ca. DRE. Lic# 01838443

Presentation: San Diego is the Best Place

2012-01-19T18:17:00.000-08:00

San Diego is the Best Place

View more presentations from SD Hud Homes.

Frequently Asked Questions When Buying a HUD Home

2012-01-18T17:20:00.000-08:00

What is a HUD Home?

A HUD Home happens to a property when a person with an FHA insured mortgage cannot settle the payments, the lender will then foreclose the home wherein the HUD will pay the lender of the owed amount which makes the HUD the property owner. After the HUD owns the property, HUD will now sell the house to bring back the huge loss of the foreclosed property. The HUD will sell it at market value as soon as possible. This is how a home becomes a HUD property.

Are HUD Homes only sold to people with low income?

HUD Homes vary in prices, depending on the area, although most HUD Homes are affordable.

I’ve heard that I can buy a HUD Home for a dollar, is it really possible?

HUD sells the property at market value which means that the amount will be of the same price of the same houses sold in the area.

How can I buy a HUD Home?

Before you can buy a HUD Home, you have to start by choosing a trusted real estate agent. Your real estate agent can then submit your bid. If your bid will be accepted, your real estate agent will then be notified.

Where can I find HUD Homes for sale?

You can ask your real estate agent in your area that shows HUD Homes for sale. They can help you find the right HUD Home for you.

Can I invest in HUD Homes?

Majority of HUD Homes are initially offered in a priority basis to home buyers or occupant purchasers that will make it their primary residence. After the priority period, those HUD Homes that were not sold will then be available to all the buyers and investors.

http://www.sdhudhomes.org/ provides best HUD Homes to Homeowners, Buyers and Investors.

Porama Srijinda, MBA.

REALTOR®, CIPS

Broker Associate at Keller Williams Realty.

Authorized HUD Agent. Short Sale and Equator Experiences,

Ca. DRE. Lic# 01838443

Tips for Buying a Home

2012-01-18T01:05:00.000-08:00

Owning a home is a good thing but buying one is not easy. It requires a lot of work and you’ll have to make one of the biggest decisions in your life, to make your dream house come true.

Here are tips you should be reminded of before making that big step:

credits to http://resources.newhomesource.com

1. Be sure to have yourself a buyer-broker who solely works for you. Your broker can communicate with the real estate agents of the seller.

2. Don’t buy a house right away. Do a thorough canvassing of house prices before you invest in one. You might save yourself from spending too much for a house.

3. Have a licensed home inspector to survey the house you want to buy before you agree to the terms of the seller.

If you are shopping for home mortgage:

4. Do your homework by researching in the current interest rates of housing properties. Read the newspaper, check the web or call the lenders.

5. You can save thousands of dollars by getting the shortest-term mortgage that you can afford so check for the interest rates.

6. Don’t focus on one lending company, compare multiple lenders and get the Annual Percentage Rate that will summarize the points, broker fees and other credit charges for a whole year.

7. Determine whether the interest rate is fixed or adjustable. Adjustable rate mortgage loans can raise your payments by hundreds of dollars in just a month. You don’t want to pay more than what you get.

8. If your loan has an adjustable rate, ask how much it would change.

9. Ask how much down payment is required as some lenders require as much as 20 percent of the properties purchase price. Lenders may also require that you have your own private mortgage insurance if you fail to pay or get behind the payment.

10. Lastly, ask if you can pay the loan ahead of time and if there are any consequences for doing so.

Porama Srijinda, MBA.

REALTOR®, CIPS

Broker Associate at Keller Williams Realty.

Authorized HUD Agent. Short Sale and Equator Experiences,

Ca. DRE. Lic# 01838443

5 Things You Should Know Before Buying HUD Homes

2012-01-17T00:08:00.000-08:00

For sale HUD Homes: What You Should Know Buying a HUD home

The HUD homes for sale are FHA insured loans that were foreclosed and HUD has taken the ownership of the HUD Property. To make a profit out of it, HUD then assigns the HUD home to a Management and Marketing Contractor which will then clean and beautify the house and will have it appraised by and FHA appraiser.

Different rules apply when buying a home and a HUD home. This is for those who wants to buy a home and not for investors. These are the five things you should know before you make a bid in buying HUD homes.

1. Anyone can buy a HUD home that’s for sale as long as you can get a mortgage or you have the money. There are no restrictions on who can buy HUD homes.

2. You should take responsibility in making your own financing arrangements by having your loan pre-approved. A pre-qualification letter from your lending company or proof of cash is needed that is greater than the HUD homes you are buying. The HUD will not do your home so you can purchase HUD homes for sale.

3. Be sure that you want the HUD home you are buying because a HUD home is sold in an as-is condition. What you see is what you get. Unlike in buying a regular house which you can do a meticulous inspection in almost everything, in buying HUD homes, you are not permitted to do a full inspection. A contract should be signed and accepted before you can test and inspect everything.

4. There is an earnest money requirement which differs depending on the list price of the HUD home. However, if you don’t like the HUD home listing, the return of the earnest money is not automatic.

5. You need to have a real estate agent in order to place your big on HUD homes for sale. You should choose a trusted and experienced real estate agent in buying HUD houses. Because if you pick the wrong real estate agent, you will be wasting a fortune.

Porama Srijinda, MBA.

REALTOR®, CIPS

Broker Associate at Keller Williams Realty.

Authorized HUD Agent. Short Sale and Equator Experiences,

Ca. DRE. Lic# 01838443

Foreclosure Homes Affecting San Diego

2012-01-16T19:40:00.001-08:00

credits to http://matthackettrealestate.com

Porama Srijinda, MBA.

REALTOR®, CIPS

Broker Associate at Keller Williams Realty.

Authorized HUD Agent. Short Sale and Equator Experiences,

Ca. DRE. Lic# 01838443

San Diego is the Best Place

2012-01-16T16:00:00.000-08:00

San Diego is the best place in the World,

If God wanted a second home He would should

San Diego.

If you agree! follow me on twitter.

Pick your neighborhood in San Diego.

Sunset Cliffs Blvd, Point Loma panoramic ocean front yard across the street. surrounded by luxury homes with ocean front lots in Point Loma. Sunset Cliffs is a place that for surfing enjoy, you can see the La Jolla and Coronado Island. Your Dream Home is available here! Where the sunset’s with a warm glow; Right in front of your castle! And the Ocean Waves kiss the golden shores.

Electra Condominium, is one of the famous Highlight buildings. It’s part of Down Town San Diego. Luxury residential abodes are located on West E. St. Downtown San Diego. Architecture composed of Town Homes and Tower Buildings, Close to Ball Park, Conference Center and Embarcadero. Walk to business Centers, shopping mall, theaters, entertainment and morning breakfast in an open air sidewalk café.

http://poramasrijinda.yourkwagent.com/atj/user/AdditionalGetAction.do?pageId=266307

741 Sunset Cliffs Blvd, San Diego Ca 92107

Huge Lotto build.249 acre w/ Panoramic ocean front view, Lot has plenty of street access. Lot is surrounded by luxury homes: one of the very last ocean front lots in Point Loma. Located at the end of Sunset Cliffs near stairway to the beach. Plans for a home of approx. 6,000sf with guest home are optional, height restriction 30'. Not split able. Seller will consider carrying The financing with 20% or More down. terms are negotiable. For more information call agent. Thank you for showing.

http://www.mlsfinder.com/ca_sandicor/poramasrijinda/index.cfm?action=listing_detail&property_id=090061649&searchkey=be50dc69-ee14-5311-d95e-3b855429c252&npp=8&sr=1

Porama Srijinda, MBA

Broker Associate, REALTOR®,CIPS, GHPSS.F.R Short Sale & Foreclosure Resources

H.E.L.P Certified SpecialistVA and FHA Experiences
CA.DRE. Lic #: 01838443

www.AsiamericaRealty.com

www.PoramaSrijinda.com

Green Home

2012-01-13T00:16:00.000-08:00

credits to http://www.gtworkshops.com

Buyers look for green home and energy efficiency appliances

Energy efficiency and conservation of natural resources, using sustainable products that are good for our planet is our way of educating the future generation for better living. Consult your appliance dealers for tips on how to make your home more green and energy efficiency.

Energy cost efficiency

· More insulation in the right places helps reduce energy and heating costs.

· Check all the areas where caulking and weather stripping are applied and replace where necessary.

Low-flow water fixtures such as faucets and showers, and dual-flushing toilets reduce water consumption.

· Unplug electronics when not in use; it reduces utility bills;

· Potential buyers will check for these kinds of details.

· Many electrical units use power when plugged in, even if they're not turned on form a habit of unplugging them.

Moderate-cost green updates

· Earth-friendly materials such as wood alternative flooring, furniture, cabinetry and other materials made locally, can reduce carbon, smog, and pollution buildup.

· High-efficiency HVAC units can replace heating and cooling systems. Purchase ENERGY STAR appliances, which use up to 40 percent less energy than conventional appliances.

· Install a high-efficiency water heater and keep the setting down a few degrees. Many local and state governments offer incentives for purchasing energy-efficient appliances.

Increase your home's appeal more green.

credits to http://www.constructionweekonline.in

Remember the 60-second rule: That's all the time you have to create a winning first impression. Here are some simple to significant ways to maximize your home's appeal.

Exterior

* Keep the grass cut and remove all yard clutter.

* Weed and apply fresh mulch to flower beds.

* Apply fresh paint to wooden fences.

* Tighten and clean all door handles.

* Clean windows inside and out.

* Powerwash home's exterior.

* Ensure all gutters and downspouts are firmly attached and functioning.

* Paint the front door.

* Buy a new welcome mat.

* Place potted flowers near the front door.

Interior

* Evaluate the furniture in each room and remove anything that interrupts "the flow" or makes the room appear smaller. Consider renting a storage unit to move items off-site.

* Clean and organize cabinets, closets and bookshelves.

* Clean all light fixtures and ceiling fans.

* Shampoo carpets.

* Remove excessive wall hangings and knick-knacks.

* Repair all plumbing leaks, including faucets and drain traps.

* Make minor repairs (torn screens, sticking doors, cracked caulking).

* Clean or paint walls and ceilings.

* Replace worn cabinet and door knobs.

* Fix or replace discolored grout.

* Replace broken tiles.

* Replace worn countertops.

Special details for showings

* Turn on all the lights.

* Open all drapes and shutters in the daytime.

* Keep pets secured outdoors.

* Buy new towels for bathrooms.

* Buy new bedding for bedrooms.

* Replace old lamps or lampshades.

* Play quiet background music.

* Light the fireplace or clean out the ashes and light a candelabrum.

* Infuse home with a comforting scent, such as apple spice or vanilla.

* Set the dining room table for a fancy dinner party.

* Vacate the property while it is being shown.

The Truth About Fannie Mae and Freddie Mac Properties

2012-01-11T22:25:00.000-08:00

credits to bizjournals.com

Rumor has it that Fannie Mae and Freddie Mac were going to unload foreclosed properties on renters and have now, at long last, put together a wonderful program.

News broke in that the Obama Administration has proclaimed about the “Pilot Program” that’s in hand and the foreclosed properties that Fannie Mae and Freddie Mac owned will now be available to fascinated investors, in bulk, who’s interested to rent the refurbished properties.

The foreclosed properties of approximately 250,000 homes ($11 trillion) all throughout the nation need to be cleaned up to stabilize their value and renew the community to be a brighter place to live. The properties would be sold in bulk according to their location and will be focused on the hardest hit community on the pilot program. The investors are offered to buy above 50 properties at one time and they would refurbish the homes that will be conducive for the people to live in so they will be happy to rent them.

Although the government already announced about this good news, finding the right financial guidelines in buying the properties would be a great challenge. Investors are interested to buy the foreclosed properties but banks will not lend the money right away.

Anyhow, if the lending companies and the government will come in terms to go with selling the properties in bulk, there are still a lot of things that the investors would need to think of. They would need a lot of landlord to handle tasks which of course raise the renting price so they should be vigilant and practical in buying the right houses in the right places.

The purpose of this pilot program shows where foreclosed properties will be in the coming years and how to keep loses at minimum. This would serve as tool for investors to guide them on selling the properties and this will help bring back the capital in the real estate market.

If you are interested with the Fannie Mae and Freddie Mac Properties, you can find them through Fannie Mae REO Listing and then enter your zip code. Freddie Mac also has his own website name Home Steps where you can find real estate agents to help you. It also has online support called the Home Detective that will notify you if an entry is made that matches up to what you’re looking for.

If you buy the Fannie Mae and Freddie Mac Properties, it would be a great investment that you can flip and sell. You can buy HUD, FHA and VA foreclosed homes that you can use as your home residence or for selling purposes.

Porama Srijinda, MBA.

REALTOR®, CIPS

Broker Associate at Keller Williams Realty.

Authorized HUD Agent. Short Sale and Equator Experiences,

Ca. DRE. Lic# 01838443

Short Sale: Is It Right For You?

2012-01-11T18:26:00.000-08:00

How a Short Sale Happens?

When the lenders provide the option to sell the burrowed property to a third party at a lower price than what they actually owe on their loan, it is called a real estate short sale. To illustrate further, if the mortgage is $200,000 and the market value of the property has dropped to $185,000 an amount of $15,000 is short excluding the real estate commission, title charges and other similar contingencies. If the lender accepts the above short price instead of the full loan amount the transaction is called a short sale. Lenders often resort to short sale in order to avoid foreclosure and consequent financial burdens.

What are the Steps in a Short Sale?

The short sale process is not as easy as some people may think. The lender has to approve the process; the homeowner has to convince the hardships to the lender leading to the short sale. The following steps are involved in a typical short sale. The seller or the homeowner signs a listing agreement with the real estate agent. The agent negotiates with a buyer who is willing to buy the property for less than the total mortgage loan amount. If the seller is satisfied with the amount purchase offer is agreed. The lender accepts the purchase offer made by the buyer. When funds are delivered by the buyer to the lender, the transaction is closed. Finally the lender releases the lien on the property and the new deed is made in favor of the buyer.

How a Person Qualifies for the Short Sale?

A borrower if wants to qualify for a short sale should satisfy the lender the circumstances that have lead to last step of ending in short sale of the property. Generally the following situations are accepted by the lenders as valid reasons for making a short sale.

Unemployment and critical illness of the borrower.
A drop in market value of the property.
Mortgages in continuous defaults and the recovery of funds not optimistic according to the lender.
The property becomes in poor condition either by its own or due to natural calamities.
The area or neighborhood has started decreasing trends in property value.

In addition to the borrower reasons, the banks and other lenders may have their circumstances to think in favor of short sales to sustain the business. These includes, Increasing defaulting loans that decrease the confidence of the shareholders and REO being a liability rather than an asset, many banks avoid the complications that come later.

In any case the seller needs to submit a hardship letter explaining the circumstances that prompt for a short sale. The letter should state the incapacity to make monthly loan dues and also the inability to pay the difference upon short sale. The homeowner may be required to submit the financial statements, tax records and all other documents in support of his hardship. Some of the valid reasons for accepting hardship are,

· Unemployment.
· Divorce.
· Acute Illness.
· Bankruptcy
· Death

The below mentioned situations do not constitute hardship.

· Spending on luxury when there is an acute shortage of income.
· Personal problems with the neighbors.
· Relocation of the house simply to abandon the present house for seeking comfort.
· Pregnancy is not considered a hardship.
· Buying another home because of the poor condition of the present home.

In short it is very important to convince the lender the reasons for seeking short sale. If the lender discovers that the homeowner has enough income to repay loan, short sale may not be granted. In some cases the lender may grant a short sale to a homeowner with some assets but he or she may be required to pay back the short fall. The seller is not entitled to make a profit or receive a portion of money from the short sale.

The Consequences of a Short Sale:

Even if the hardships are acceptable to the lender, there are few things that must be taken into account when planning a short sale. A short sale happens only when a buyer agrees to buy the property and therefore confirmed decision to buy the property is very important. Besides the lender has to accept the offer to get final approval of the short sale.

In a short sale, the homeowner owes the difference between the mortgage balance and the discounted amount. The lender may issue a 1099 for the difference but according to the Mortgage Forgiveness Debt Relief Act of 2007 there are many situations where exemption can be granted for debt forgiveness. A short sale leads to negative credit score and therefore efforts should be made to get a positive feedback from bank stating that payment has been made in full.

Porama Srijinda, MBA.

REALTOR®, CIPS

Broker Associate at Keller Williams Realty.

Authorized HUD Agent. Short Sale and Equator Experiences,

Ca. DRE. Lic# 01838443

U-T EconoMeter

2012-01-10T21:22:00.000-08:00

EconoMeter: Will home prices rise in 2012?

Panel forecast overestimated 2011 increase by $21,000

Written by

Roger Showley

6 a.m., Jan. 7, 2012

Q: Will San Diego County median home prices rise in 2012? They dropped 6 percent from $335,000 in November 2010 to $315,000 in November 2011.

Panel's answer: Yes 5, No 3. Consensus 2012 median: $319,300 (2011 consensus was $336,250)

Marney Cox, San Diego Association of Governments

Marney Cox

ANSWER: NO

2011 and 2012 prediction, $300,000. Unfortunately, the significant hurdle of clearing the excess inventory of distressed properties is not yet complete. The foreclosure process is expected to peak in 2012 and liquidations, the following year. This additional supply is expected to push the median home price down 5 percent during 2012. The faster foreclosures are processed and returned to the market for sale, the more downward pressure on home prices and a quicker return to a normal housing market. To facilitate this process, regulators are considering a plan to sell foreclosed properties to investors who would renovate and rent them; preventing this correction only delays the inevitable, pushing the construction sector recovery off into the future.

http://www.utsandiego.com/news/2012/jan/07/econometerists-see-slight-rises-home-prices-2012/

Porama Srijinda, MBA.

REALTOR®, CIPS

Broker Associate at Keller Williams Realty.

Authorized HUD Agent. Short Sale and Equator Experiences,

Ca. DRE. Lic# 01838443

www.AsiamericaRealty.com

www.MsShortSales.com

www.SDhudhomes.org

Opting for New Home Construction

2012-01-10T13:49:00.000-08:00

Whether to buy an existing home or have one built is yet another decision to make during the home-buying process. If you decide to go with new construction, a real estate agent can be a powerful advocate in your corner as you negotiate upgrades, a move-in date and other terms with the home builder.

Below are some basic pointers to prepare you for the journey ahead.

Selecting a builder

Shopping for a large production or custom home builder can be a daunting task. Start by defining what architectural styles appeal to you and then seek out the builders in your area who offer those styles. Due diligence is essential. Ask friends for referrals to get firsthand accounts; verify the builder's state license status, if applicable; and check whether they're certified by the National Association of Home Builders.

The builder representative and your real estate agent

A builder representative's ultimate goal is to sell you a home. His or her role is to provide a wide range of information to help you in your decision-making, from building restrictions, roads and easements to inspections, warranties, rebates and upgrades. A real estate agent knowledgeable in new-home construction will be able to help you wade through all the data and point out the downsides and upsides of each line item. Your agent also can look out for your interests in reviewing the builder's contract, which often contains more legal jargon than consumer-friendly language.

It's all about timing

Market conditions greatly dictate a builder's incentive to make a deal you cannot refuse. When a builder has inventory on his hands, his carrying costs start adding up. When this happens, a builder might be more amenable to strike a favorable deal, whether it's throwing in upgrades or taking a bit off the asking price. A real estate agent can help you know when market conditions are right for these benefits. Also, watch for builder close-out sales. Builders promote these special events when a new subdivision is near completion but empty inventory still remains.

A word about paying up

While there are always exceptions, most builders require a deposit when a purchase agreement is signed. They also require that the buyer pay for any upgrades prior to closing. If you back out prior to closing, unless the agreement states otherwise, you will lose that money. Make sure you understand every detail in the builder's contract before signing it.

Porama Srijinda, MBA.

REALTOR®, CIPS

Broker Associate at Keller Williams Realty.

Authorized HUD Agent. Short Sale and Equator Experiences,

Ca. DRE. Lic# 01838443

Home Price Rise in San Diego and the Sunset Cliffs

2012-01-08T19:59:00.000-08:00

Here are lovely Photos of a home price rise in San Diego and the Sunset Cliffs. Enjoy!

Increasing Your House's Appeal

2012-01-07T05:17:00.000-08:00

Remember the 60-second rule: That's all the time you have to create a winning first impression. Here are some simple to significant ways to maximize your home's appeal.

Exterior

* Keep the grass cut and remove all yard clutter.
* Weed and apply fresh mulch to flower beds.
* Apply fresh paint to wooden fences.
* Tighten and clean all door handles.
* Clean windows inside and out.
* Powerwash home's exterior.
* Ensure all gutters and downspouts are firmly attached and functioning.
* Paint the front door.
* Buy a new welcome mat.
* Place potted flowers near the front door.Interior

* Evaluate the furniture in each room and remove anything that interrupts "the flow" or makes the room appear smaller. Consider renting a storage unit to move items off-site.
* Clean and organize cabinets, closets and bookshelves.
* Clean all light fixtures and ceiling fans.
* Shampoo carpets.
* Remove excessive wall hangings and knick-knacks.
* Repair all plumbing leaks, including faucets and drain traps.
* Make minor repairs (torn screens, sticking doors, cracked caulking).
* Clean or paint walls and ceilings.
* Replace worn cabinet and door knobs.
* Fix or replace discolored grout.
* Replace broken tiles.
* Replace worn countertops.Special details for showings

* Turn on all the lights.
* Open all drapes and shutters in the daytime.
* Keep pets secured outdoors.
* Buy new towels for bathrooms.
* Buy new bedding for bedrooms.
* Replace old lamps or lampshades.
* Play quiet background music.
* Light the fireplace or clean out the ashes and light a candelabrum.
* Infuse home with a comforting scent, such as apple spice or vanilla.
* Set the dining room table for a fancy dinner party.
* Vacate the property while it is being shown.

Porama Srijinda, MBA.

REALTOR®, CIPS

Broker Associate at Keller Williams Realty.

Authorized HUD Agent. Short Sale and Equator Experiences,

Ca. DRE. Lic# 01838443

How to Price to Sell and still Make a Profit

2012-01-05T18:40:00.000-08:00

The asking price you set for your home significantly affects whether you will profit in the sale, how much you will profit and how long your home will sit on the market. Your real estate agent's knowledge of the overall market and what's selling - or not selling - will be invaluable in helping you determine the price. The objective is to find a price that the market will bear but won't leave money on the table.

Here are some points to consider: Time. Time is not on your side when it comes to real estate. Although many factors influence the outcome, perhaps time is the biggest determinant in whether or not you see a profit and how much you profit. Studies show that the longer a house stays on the market, the less likely it is to sell for the original asking price. Therefore, if your goal is to make money, think about a price that will encourage buyer activity (read: fair market value).

Value vs. Cost. Pricing your home to sell in a timely fashion requires some objectivity. It's important that you not confuse value with cost - in other words, how much you value your home versus what buyers are willing to pay for it. Don't place too much emphasis on home improvements when calculating your price, because buyers may not share your taste. For instance, not everyone wants hardwood floors or granite countertops.

Keep it simple. Because time is of the essence, make it easy for the buyers. Remain flexible on when your agent can schedule showings. Also, avoid putting contingencies on the sale. Though a desirable move-in date makes for a smoother transition between homes, it could cause you to lose the sale altogether.

Porama Srijinda, MBA.

REALTOR®, CIPS

Broker Associate at Keller Williams Realty.

Authorized HUD Agent. Short Sale and Equator Experiences,

Ca. DRE. Lic# 01838443

Seven Main Roles of Your Real Estate Agent

2012-01-04T17:54:00.000-08:00

How can a real estate agent help me?

Seven main roles of your real estate agent

A Buyer’s Real Estate Agent:

Educates you about your market.
Analyzes your wants and needs.
Guides you to homes that fit your criteria.
Coordinates the work of other needed professionals.
Negotiates on your behalf.
Checks and double-checks paperwork and deadlines.
Solves any problems that may arise.

Porama Srijinda, MBA.

REALTOR®, CIPS

Broker Associate at Keller Williams Realty.

Authorized HUD Agent. Short Sale and Equator Experiences,

Ca. DRE. Lic# 01838443

1031 Exchanges

2012-01-04T17:28:00.000-08:00

Introduction to 1031 Exchanges

Anyone involved with advising or counseling real estate investors should know about tax-deferred exchanges, including Realtors, lawyers, accountants, financial planners, tax advisors, escrow and closing agents, and lenders. A 1031 Exchange (Tax-Deferred Exchange) Is One Of The Most Powerful Tax Deferral Strategies Remaining Available For Taxpayers. Taxpayers should never have to pay income taxes on the sale of property if they intend to reinvest the proceeds in similar or like-kind property.

The Advantage of a 1031 Exchange

The Advantage of a 1031 Exchange is the ability of a taxpayer to sell income, investment or business property and replace with like-kind replacement property without having to pay federal income taxes on the transaction. A sale of property and subsequent purchase of a replacement property doesn't work, there must be an Exchange. Section 1031 of the Internal Revenue Code is the basis for tax-deferred exchanges. The IRS issued "safe harbor" Regulations in 1991 which established approved procedures for exchanges under Code Section 1031. Prior to the issuance of these Regulations, exchanges were subject to challenge under examination on a variety of issues. With the issuance of the 1991 Regulations, tax-deferred exchanges became easier, affordable and safer than ever before.

The Disadvantages of a Section 1031 Exchange include a reduced basis for depreciation in the replacement property. The tax basis of replacement property is essentially the purchase price of the replacement property minus the gain which was deferred on the sale of the relinquished property as a result of the exchange. The replacement property thus includes a deferred gain that will be taxed in the future if the taxpayer cashes out of his investment.

Exchange Techniques.

There is more than one way to structure a tax-deferred exchange" under Section 1031 of the Internal Revenue Code. However, the 1991 "safe harbor" Regulations established procedures which include the use of an Intermediary, direct deeding, the use of qualified escrow accounts for temporary holding of "exchange funds" and other procedures which now have the official blessing of the IRS. Therefore, it is desirable to structure exchanges so that they can be in harmony with the 1991 Regulations. As a result, exchanges commonly employ the services of an Intermediary with direct deeding.

Exchanges can also occur without the services of an Intermediary when parties to an exchange are willing to exchange deeds or if they are willing to enter into an Exchange Agreement with each other. However, two-party exchanges are rare since in the typical Section 1031 transaction, where the seller of the replacement property is not the buyer of the taxpayer's relinquished property.

Investor Services

Keller Williams Realty excels at finding valued opportunities in any market.

Our experience of real estate ensures our understanding of improvement costs and acquisition guidelines.

Our history as a real estate business has developed a strong relationship with owners and investors who help us understand all sides of any dealNegotiations of the deal are important and we have the patience to work out an honorable transaction.

Important investments are time worthy and require well experienced closers. Our success rate is strong giving us a big share in the percentage of success rating in growing nation wide business

For all your real estate needs, please call or contact us

Porama Srijinda, MBA.

REALTOR®, CIPS

Broker Associate at Keller Williams Realty.

Authorized HUD Agent. Short Sale and Equator Experiences,

Ca. DRE. Lic# 01838443

Creating Your Home Wishlist

2012-01-03T23:48:00.000-08:00

Before the home search begins, your real estate agent will want to know as much as possible about the features and amenities you desire. To help your agent better serve you, analyze what you want and what you need in a home’s features and amenities.

Features:

Age: Do you prefer historic properties, or newer ones?
Style: Do you have a special preference for ranches, bungalows, or another style of construction?
Bedrooms: How many?
Bathrooms: How many? Are they updated?
Living and Dining Areas: A traditional, formal layout, or a more open, contemporary plan?
Stories: How many?
Square feet: How much space?
Ceilings: How high?
Kitchen: How big? Recently updated? Open to other living areas?
Storage: Big closets, a shed, an extra-large garage?
Parking: A garage or carport? Room for how many cars?
Extras: Attic or basement?

Amenities:

Office
Play/exercise room
Security system
Sprinkler system
Workshop/Studio
In-law suite
Fireplace
Pool
Hot tub
Sidewalk
Wooded lot
Patio, deck, or porch
Laundry room

Porama Srijinda, MBA.

REALTOR®, CIPS

Broker Associate at Keller Williams Realty.

Authorized HUD Agent. Short Sale and Equator Experiences,

Ca. DRE. Lic# 01838443

Eight Steps on How to Buy Your Home

2012-01-03T23:44:00.000-08:00

1. Decide to buy.

Although there are many good reasons for you to buy a home, wealth building ranks among the top of the list. We call home ownership the best “accidental investment” most people ever make. But, we believe when it is done right, home ownership becomes an “intentional investment” that lays the foundation for a life of financial security and personal choice. There are solid financial reasons to support your decision to buy a home, and, among these, equity buildup, value appreciation, and tax benefits stand out.

Base your decision to buy on facts, not fears.

If you are paying rent, you very likely can afford to buy
There is never a wrong time to buy the right home. All you need to do in the short run is find a good buy and make sure you have the financial ability to hold it for the long run
The lack of a substantial down payment doesn’t prevent you from making your first home purchase
A less-than-perfect credit score won’t necessarily stop you from buying a home
The best way to get closer to buying your ultimate dream home is to buy your first home now
Buying a home doesn’t have to be complicated – there are many professionals who will help you along the way

2. Hire your agent.

The typical real estate transaction involves at least two dozen separate individuals – insurance assessors, mortgage brokers and underwriters, inspectors, appraisers, escrow officers, buyer’s agents, seller’s agents, bankers, title researchers, and a number of other individuals whose actions and decisions have to be orchestrated in order to perform in harmony and get a home sale closed. It is the responsibility of your real estate agent to expertly coordinate all the professionals involved in your home purchase and to act as the advocate for you and your interests throughout.

Seven main roles of your real estate agent

A Buyer’s Real Estate Agent:

Educates you about your market.
Analyzes your wants and needs.
Guides you to homes that fit your criteria.
Coordinates the work of other needed professionals.
Negotiates on your behalf.
Checks and double-checks paperwork and deadlines.
Solves any problems that may arise.

Eight important questions to ask your agent

Qualifications are important. However, finding a solid, professional agent means getting beyond the resume, and into what makes an agent effective. Use the following questions as your starting point in hiring your licensed, professional real estate agent:

Why did you become a real estate agent?
Why should I work with you?
What do you do better than other real estate agents?
What process will you use to help me find the right home for my particular wants and needs?
What are the most common things that go wrong in a transaction and how would you handle them?
What are some mistakes that you think people make when buying their first home?
What other professionals do you suggest we work with and what are their credentials?
Can you provide me with references or testimonials from past clients?

3. Secure financing.

While you may find the thought of home ownership thrilling, the thought of taking on a mortgage may be downright chilling. Many first-time buyers start out confused about the process or nervous about making such a large financial commitment.

From start to finish, you will follow a six-step, easy-to-understand process to securing the financing for your first home.

Six steps to Financing a Home

Choose a loan officer (or mortgage specialist).
Make a loan application and get preapproved.
Determine what you want to pay and select a loan option.
Submit to the lender an accepted purchase offer contract.
Get an appraisal and title commitment.
Obtain funding at closing.

4. Find your home.

You may think that shopping for homes starts with jumping in the car and driving all over town. And it’s true that hopping in the car to go look is probably the most exciting part of the home-buying process. However, driving around is fun for only so long – if weeks go by without finding what you’re looking for, the fun can fade pretty fast. That’s why we say that looking for your home begins with carefully assessing your values, wants, and needs, both for the short and long terms.

Questions to ask yourself

What do I want my home to be close to?
How much space do I need and why?
Which is more critical: location or size?
Would I be interested in a fixer-upper?
How important is home value appreciation?
Is neighborhood stability and priority?
Would I be interested in a condo?
Would I be interested in new home construction?
What features and amenities do I want? Which do I really need?

5. Make an offer.

When searching for your dream home, you were just that – a dreamer. Now that you’re writing an offer, you need to be a businessperson. You need to approach this process with a cool head and a realistic perspective of your market. The three basic components of an offer are price, terms, and contingencies (or “conditions” in Canada).

Price – the right price to offer must fairly reflect the true market value of the home you want to buy. Your agent’s market research will guide this decision.

Terms – the other financial and timing factors that will be included in the offer.

Terms fall under six basic categories in a real estate offer:

Schedule – a schedule of events that has to happen before closing.
Conveyances – the items that stay with the house when the sellers leave.
Commission – the real estate commission or fee, for both the agent who works with the seller and the agents who works with the buyer.
Closing costs – it’s standard for buyers to pay their closing costs, but if you want to roll the costs into the loan, you need to write that into the contract.
Home warranty – this covers repairs or replacement of appliances and major systems. You may ask the seller to pay for this.
Earnest money – this protects the sellers from the possibility of your unexpectedly pulling of the deal and makes a statement about the seriousness of your offer.

6. Perform due diligence.

Unlike most major purchases, once you buy a home, you can’t return it if something breaks or doesn’t quite work like it’s supposed to. That’s why home owner’s insurance and property inspections are so important.

A home owner’s insurance policy protects you in two ways:

Against loss or damage to the property itself
liability in case someone sustains an injury while on your property

The property inspection show expose the secret issues a home might hide so you know exactly what you’re getting into before you sign your closing papers.

Your major concern is structural damage.
Don’t sweat the small stuff. Things that are easily fixed can be overlooked.
If you have a big problem show up in your inspection report, you should bring in a specialist. If the worst-case scenario turns out to be true, you might want to walk away from the purchase.

7. Close.

The final stage of the home buying process is the lender’s confirmation of the home’s value and legal statue, and your continued credit-worthiness. This entails a survey, appraisal, title search, and a final check of your credit and finance. Your agent will keep you posted on how each if progressing, but your work is pretty much done.

You just have a few preclosing responsibilities:

Stay in control of your finances.
Return all phone calls and paperwork promptly.
Communicate with your agent at least once a week.
Several days before closing, confirm with your agent that all your documentation is in place and in order.
Obtain certified funds for closing.
Conduct a final walk-through.

On closing day, with the guidance of a settlement agent and your agent, you’ll sign documents that do the following:

Finalize your mortgage.
Pay the seller.
Pay your closing costs.
Transfer the title from the seller to you.
Make arrangements to legally record the transaction as a public record.

As long as you have clear expectations and follow directions, closing should be a momentous conclusion to your home-searching process and commencement of your home-owning experience.

8. Protect your investment.

Throughout the course of your home-buying experience, you’ve probably spent a lot of time with your real estate agent and you’ve gotten to know each other fairly well. There’s no reason to throw all that trust and rapport out the window just because the deal has closed. In fact, your agent wants you to keep in touch.

Even after you close on your house, you agent can still help you:

Handle your first tax return as a home owner.
Find contractors to help with home maintenance or remodeling.
Help your friends find homes.
Keep track of your home’s current market value.

Attention to you home’s maintenance needs is essential to protecting the long-term value of your investment.
Home maintenance falls into two categories:

Keeping it clean: Perform routine maintenance on your home’s systems, depending on their age and style.
Keeping an eye on it: Watch for signs of leaks, damage, and wear. Fixing small problems early can save you big money later.

Porama Srijinda, MBA.

REALTOR®, CIPS

Broker Associate at Keller Williams Realty.

Authorized HUD Agent. Short Sale and Equator Experiences,

Ca. DRE. Lic# 01838443

Who qualifies for discount from HUD homes?

2011-12-29T18:12:00.000-08:00

Who qualifies for discount from HUD homes?

Housing and Urban Development Department U.S. provides quite vigorous deals timely to the buyers. HUD makes the homes available to the buyers that are foreclosed on the non-payment of FHA-insured loan. Only those who are already registered with the site can place a bid for HUD HOMES and the buyers must bid through the registered agents only. The HUD has declared some parties that are eligible to buy HUD HOMES. They are law enforcement officers, firefighters, emergency medical technicians, or the teachers. Let us have a brief look below at the parties that are eligible to buy HUD HOMES:

Teachers:

The full-time teacher employed by the state-accredited public school or by private school that endows direct services to the pre-kindergarten through 12^th standard students. The school must also serve the students from the area where the teacher is purchasing home.

Firefighter/Emergency Medical Technicians:

The full time Firefighter/Emergency Medical Technician employed by the fire department or by the emergency medical services responder unit of federal government, state, general local government unit or Indian tribal government that serves in the area where the home being purchased is located.

Law Enforcement officer:

The law enforcement officer employed full-time by law enforcement agency of federal government, state, general local government unit or Indian tribal government. The officer must also be under oath to advocate for violations of federal, state, county, tribal, township or the municipal laws.

Owner Occupants:

Individuals having valid SSN who have not purchased any HUD property within past two years are eligible and can bid on HUD HOMES in the exclusive and extended period. They rank above the nonprofit and government agencies in biding selection process in the exclusive and extended listings.

Investors:

The investors having valid Employer Identification Number (EIN) or Social Security Number (SSN) can bid in the extended period and are ranked below the other bidders in the biding selection process.

Nonprofit organizations:

The nonprofit organizations who are in approved purchase areas can bid on HUD homes in lottery, exclusive and extended period. The home must be uninsured if the property is in lottery period and they cannot bid for dollar homes. These agencies rank below Government Agencies in the biding selection process for lottery and above the same for exclusive or extended listings.

Government Agencies:

Accredited government agencies can bid in lottery, exclusive, extended periods in the approved purchase areas and if the property is in lottery period HUD HOME must be uninsured. Government agencies can place bids for Dollar homes.

Any authorized HUD HOMES agent can help you buy or sell these houses. Contact Authorized HUD HOMES agent click here Or go to website: http://www.sdhudhomes.org

Porama Srijinda, MBA.

REALTOR®, CIPS

Broker Associate at Keller Williams Realty.

Authorized HUD Agent. Short Sale and Equator Experiences,

Ca. DRE. Lic# 01838443

Mistakes to avoid when buying HUD Homes for Sale

2011-12-29T18:09:00.000-08:00

Mistakes to avoid when buying HUD Homes for Sale

The FHA foreclosed property or the HUD property is a great investment for the homebuyers as well as for the investors who wish to buy HUD HOMES. The HUD HOMES are the homes for sale that are financed by FHA loan and that loan has been foreclosed. These homes are sold via HUD contactors who market these properties and sell to interested homebuyers or investors. It is always advisable to hire an agent who is authorized by HUD as HUD has made it compulsory for any homebuyers to bid for the property through the authorized agents only. There are many things that need to be considered and some things that need to be avoided when buying HUD HOMES that are available for sale. Let us have a look at few of the important tips:

· Many of the homebuyers just call any real estate agent or call the one who is used in past but sometimes this not just the thing to be done. There are only few of the agents who are aware of everything related to HUD HOME selling and could buy them so choosing the agent who have good track record and experience in selling HUD HOMES is always important thing to do.

· HUD HOMES are meant to be sold to the public at convenient rates so paying too much for these homes is not the thing to be done. HUD say that they sell the houses at "Fair Market Value" and one must always make sure what the exact market value is for that particular property. The experienced real estate agent may help you with the proper market analysis and the prices that are not too high and not too low.

· Before buying any property, one must do in depth analysis of that and find out the flaws so that you will not have to regret in future. HUD itself provides the "Property Condition Report" that has detailed copy of the analyzed report of the property to make the buyers available with the home condition but still having the inspection done by you is the better and satisfactory option.

· The HUD houses are sold "As-Is" and when you buy a HUD property you need to make your bid amount adjusted according to the repairs needed in the house. Also HUD pays up to 5% of purchased price on some buyers closing costs. The real estate agents will certainly let you know the closing cost HUD pays so that you can make the better decision.

By keeping few of the important things in mind you can certainly maximize the advantages you have in buying HUD HOMES and will certainly enjoy fair and profitable deals at your specifications.

Any authorized HUD HOMES agent can help you buy or sell these houses. Contact Authorized HUD HOMES agent click here Or go to website: http://www.sdhudhomes.org/

Porama Srijinda, MBA.

REALTOR®, CIPS

Broker Associate at Keller Williams Realty.

Authorized HUD Agent. Short Sale and Equator Experiences,

Ca. DRE. Lic# 01838443

Tips for buying HUD Homes

2011-12-29T18:05:00.000-08:00

Tips for buying HUD Homes

HUD offers quite better deals for the homebuyers and for the investors. At times when foreclosure rate is high availability of HUD HOMES increases. There are many terms and conditions of HUD that a buyer need to understand and fulfill along with many differentials. To have a quick guide about HUD HOME buying, know the below mentioned tips.

Understanding that al HUD HOMES are not great deals there may be many flaws that you cannot afford to bear or there may be some requirements that you cannot fulfill. Remember that the real estate agents are marketing HUD properties and always make your decisions based on the detailed analysis made by your personal visit and examination. Also understanding the bidding process is also very important, as there may be countless requirements to be fulfilled and to be understood in order to buy the property wisely. The aim of the US government behind selling HUD HOMES is to increase the number of US homeowners and so they give first priority to the home buyers before any other party. The homebuyers can bid within the first 10 days before making the property available to the investors.

You have also have a visit before buying the property so estimate the repair cost if any and deduct it from the bidding amount you have calculated. Timely monitor the HUD property inventory that varies with the foreclosure rates. Bid or buy HUD property when foreclosure rates are high and do not when the rates are low so that you may get better deals at le costs. You are required to complete the paperwork after your bid is accepted so always make sure the agent you are bidding knows the process well so that you can minimize the hassles involved in running here and there. Buying HUD property involves many hassles as the department puts strict restrictions on the bidding process you need to act quick and decisively. You will get maximum around two weeks to complete the process and if you are making mistakes repeatedly, time and resources will be wasted so act smart and avoid pester.

Any authorized HUD HOMES agent can help you buy or sell these houses. Contact Authorized HUD HOMES agent click here Or go to website: http://www.sdhudhomes.org/

Porama Srijinda, MBA
REALTOR®, CIPS
Broker Associate at Keller Williams Realty.
Authorized HUD Agent, Short Sale-Equator Experiences
VA, FHA Qualified
DRE. .License # : 01838443

Investing in HUD Homes is a Great Deal

2011-12-29T18:01:00.000-08:00

Investing in HUD Homes is a great deal

The Housing and Urban Development department (HUD) purchases homes that are insured by Federal Housing Administration and are foreclosed. Then they earn the loss they incurred in foreclosure by selling these houses to the public. HUD uses specific bidding process and those who wish to invest in these homes may bid through their agents. HUD properties are usually sold on lower prices than the market value as they are owned by the government of US. A successive growth is expected in terms of HUD HOMES availability as the loans insured by FHA are becoming quite popular among the buyers who cannot get qualified for any other types of loans. HUD does not deal with homebuyers so in order to buy a HUD HOME you need to get a qualified HUD agent for you who can converse on your behalf.

The employees of HUD and their relatives are eligible to buy HUD HOMES. They must have a written approval from the HUD’s Office Director of Single Family Asset Management to buy HUD-owned single-family property. HUD HOMES are available in broad area neighborhoods and middle-income families can afford these houses. If these homes do not need repair, they are sold at the common prices. One can visit the HUD website and get the details regarding the availability or the bids of the HUD house in any area, as the search option is available on the website. Usually the agents help buyers with the entire procedure including all paper work and the settlement if the offer to bid is accepted is around 30 to 60 days.

The HUD HOMES are firstly made available to only those who wish to live in these houses but if they do not bid on the house then the investors are allowed in the bidding. If the foreclosure houses are not sold out within six months from the purchase, HUD sells them for $1 each to the other government agencies and nonprofit organizations. According to HUD department, the investors are required to have valid Tax Identification Number (TIN) or Social Security Number (SSN) to bid on HUD HOMES.

Investors are also required to submit pre-qualification note from certified licensed lender. The brokers, associate brokers and the associated selling agents need to first register with federal HUD website prior to submitting their bids. There are loads of terms as to who can qualify for buying HUD HOMES so it is always advisable to the investors to thoroughly go through the HUD website and get all possible information.

Any authorized HUD HOMES agent can help you buy or sell these houses. Contact Authorized HUD HOMES agent click here Or go to website: www.SDHUDHOMES.ORG

Financial Available for qualified buyers and investors. Conventional, VA,FHA, Hard Monday

Porama Srijinda, MBA
REALTOR®, CIPS
Broker Associate at Keller Williams Realty.
Authorized HUD Agent, Short Sale-Equator Experiences
VA, FHA Qualified
DRE. .License # : 01838443

Real Estate is a Great Investment

2011-12-29T18:00:00.000-08:00

Real Estate is a great investment

A very famous property investment specialist said, "When money is cheap to borrow and the houses are cheap to buy, it is absolutely the right time to invest." There is not only one but also many advantages attached with investing your real money into property. Trend has proved that the real estate prices have never gone down and the ones who have invested into real estate have always been in profit when selling the properties in near future.

Here are some of the major advantages you may have investing your money into real estate properties. A guide to some of the major benefits is a below:

· You will get to save loads of tax in investing your money into real estate property. The values of properties always appreciate and using IRS, you can always write off your property depreciating. This way you will certainly save thousands every year.

· Property is always into Good Debts, and building wealth this way you will always in profit.The main benefit you have with real estate investment is “leverage” and investing some of the savings into building house will benefit your wealth in the long term.

· "Don’t put all your eggs in one basket" the proverb here means that you should diversify your portfolio. Investing all your money into one investment may benefit you largely or may dig you into a big trouble. There are many investment options such as stocks and bonds but it is always advisable to diversify your portfolio with investment into different fields.

· Many invest into insurance retirement plans to secure their future. Property, with its increasing values and dependability has become one of the best retirement solutions and many have started considering investment into property as a very trusted and a secure way. Definitely when you will retire, you will have a great source of income.

If you will once buy a property and will sell it on higher prices, the profit you gain from it will be called capital gains and you will have to pay taxes on that capital gain income. However, if you will invest your money into another property just after you receive capital gains you will surely differ your taxes this way and will save bucks. Your financial gains will be differed into some other investments. Property business is in its peak now days and more and more people are investing their short and long-term money into buying real estate property. “Any authorized agent can buy-sell HUD HOMES.” It is more fascinating that you are getting HUD homes here at your ease so hurry and grab the deal today itself.

Porama Srijinda, MBA
REALTOR®, CIPS
Broker Associate at Keller Williams Realty.
Authorized HUD Agent, Short Sale-Equator Experiences
VA, FHA Qualified
DRE. .License # : 01838443

Best HUD homes: SD Hud Homes

2011-12-29T17:33:00.000-08:00

SDhudHomes.org provides best HUD HOMES to homeowners, buyers and investors.

HUD HOMES are the default FHA insured properties that US government Housing and Urban Development department buys and sell to some specific qualified buyers. HUD properties go for sale very quickly and you need to register yourself with an authorized agent in order to place a bid for HUD HOMES. As US government buys these properties, they make them available for bid to recover the losses from foreclosure. If you are also one of the homeowner or the investor, who wants to buy HUD HOME then sdhudhomes.org is the best place you will get your dream home.

We are an authorized HUD agent that will certainly help you buy your dream home exclusively according to your specifications. We will make you available the recent and quick HUD bids and will let you know the address, price ranges, market value, listing and the bidding date and the deadlines for submitting the bid and all the documents. We will also make you available the qualifying status and all the other requirements. Unlike other places, we will let you know the damages and the repair status of the HUD HOME so that you will not have any trouble in future.

HUD HOMES are reachable property that any qualifying homeowner, buyer or investor can buy. We will save your time and money that is either wasted in searching for the property here and there. HUD HOMES are quite advantageous as compared to other homes as they are less expensive, they come with good neighborhood and they are available in quite good conditions in spite of being low cost. We will make the best and hot HUD HOMES available at your footsteps all at your specifications. All you need to do is log on to www.sdhudhomes.org and get all you need for your dream home.

Porama Srijinda, MBA
REALTOR®, CIPS
Broker Associate at Keller Williams Realty.
Authorized HUD Agent, Short Sale-Equator Experiences
VA, FHA Qualified
DRE. .License # : 01838443