Rensselaer, NY (PRWEB) February 26, 2006

The Real Estate Agent Referral Network was recently launched to assist future homeowners in locating quality Real Estate Agents Nationwide.

It has recently been reported that the majority of those seeking new home ownership first start their search online. Whether they are looking for MLS services to look for new homes on their own, or seeking the services of a realtor, we feel we have the right tools to offer them in getting started.

The prospective homeowner is able to search by city for a local Real Estate Agent to assist them in finding a new home. Each applicant will have several Realtors referred to them to choose from, free of charge. This is the same philosophy used by mortgage websites promoting “let lenders compete for your business”. In our case however, we are having Real Estate Agents compete for your business at no cost to you.

In addition to the Real Estate Agent locator service there are several other sevices the site offers. You can obtain an online Electronic Appraisal for a small fee, a comparitive market analysis free of charge or link to one of our mortgage lender services. Other features such as online credit check and Multiple Listing Services are available as well. The site has been created with the concept of being a Real Estate Hub for prospective home buyers and sellers.

Our other pages of interest include a daily updated Real Estate news feed from the NY Times as well as a complete listing of Real Estate Agents and directories linked to our site.

This new site http://www.real-estate-agent-referral-network.com is one of several sites being launched by Real Estate Scout LLC to promote referrals for the Real Estate, Building and Mortgage industry’s.

# # #

©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

Part 4 (Excerpt)

FHA financing why you should work with a broker: 4% appreciation over the last 17 years

You mentioned earlier that property values are up 71% long term, even though we had this 50% drop. Youre talking about the average 4% appreciation per year since 1992.

Right, I did some calculations I was working on a book last year and one of these days I may get around to publishing it. Its called Real Estates Future and what we were looking at was a statistical model to be able to pick the top and the bottom of all the real estate markets. I hadnt looked at the thing for about a year until I was working with Michael the other day and I started pulling it out and going lets run the model and see where we are in regards to the market, and one of the things I looked at is the last time we saw the bottom of the market was when I was selling houses for the RTC and that was in 1992, the median home price was $76,000. Median home price now is $130,000. That means from 1992 until now it went up 71%, thats after we just saw a 50% decline. So it is up 4% per year on average, and where else are you going to get a return like that? Even if you put 3.5% down on a house you are getting a heck of a lot more than a 4% return. If you look at the internal rate of return it is significantly greater.

Right and dont buy a house because you are looking at a rate of return. If you are a first time home buyer and you can qualify for this program, if you have been living in an apartment for the last three years and you just want to have a better place for yourself and your family to live, I know right now there are a lot of fabulous houses out there for $130,000. I saw one the other day that was listed at $100,000 that I know was probably at least $250,000 a couple of years ago. Yes, four bedroom-three bath houses, we are currently working on several cases at $150,000 or below, in good parts of Maricopa county.

I ran some numbers before as well just looking at the number of homes that sold in Maricopa County in January and in that month 45% of all the houses that were sold, sold for less than $130,000. And when I had the example earlier about the median family could buy a $280,000 that was 85% of the market. 85% of all the houses that were sold in Maricopa County could be purchased by a family of four with a median income.

And you know with the loan limits the way they are with FHA with 3.5% down you can go all the way up to $358,000 and still only put 3.5% down. Pretty much anyone can get in and I would probably say that 90-95% of all the houses sold were within the FHA loan limit. That means you can still get in with 3.5% down, you dont have to have perfect a credit report, you cant have a lot of bumps on it but it doesnt have to be perfect, you dont have to have a huge FICO score.

Do they even look at FICO scores? Its complicated, the Federal Housing Administration does not have a minimum FICO score requirement, however all of the mortgage banks have overlays, so in other words nobody uses just the FHA guidelines, they have their own parameters on top of the FHA requirements. One of the main reasons why you would want to go to a broker instead of directly to your bank is they may or may not have enough overlays that will work in your favor. As a broker we have all of the major mortgage banks and we know the guidelines, so we can make anyone fit into a house that can get approved.

Right and thats always the nice thing about working with a broker because you have, lets say you have 20 banks that you are signed up with and you are FHA with all of them, so you have 20 different sets of guidelines that you can fit the borrower into. If a home buyer went to a bank and they had to do an appraisal and a credit check and all that and then they denied you, you would have to go to a different bank and they would have to do all that same stuff all over again. When you are working with a broker they do it one time and then shop it to 20 different lenders.

Yes, and I have to point something out more importantly, if you go directly to your bank and you do get declined after you have spent the money on all these different things the process is much more difficult because you have to start all over again and the reason you were declined has to be explained as well and it becomes a much more lengthy process. Where as when working with a broker you dont have to do that. We take the hit for you and we move you into the right lender of your choice…

Duration : 0:6:3

[youtube AQF3pcM6ssc]

More info at:
sccrealestateuncensored.com/2008/repair-credit-legally-remove-negative-accounts/

micasamidinero.com/2008/reparo-credito-eliminando-legalmente-cuentas-negativas/

Duration : 0:9:22

[youtube jS43XFa3KGU]

Duration : 0:1:41

[youtube tIc8N7IYkqs]

Duration : 0:2:34

[youtube zlco_mJXIyc]

Duration : 0:2:52

[youtube 8QjFKeUF6MY]

Duration : 0:1:29

[youtube mEbHW0PrieY]

Duration : 0:1:34

[youtube PHnyows686k]