Alright, no famine! I need to drink more water, not see it come from the sky and rivers.... working toward food control is not exactly famine.
The wet events continue and more pesty events to come. With snow to our north and rain to our west in the last week looks like more of the same Water Water everywhere!
Flooding and clean up! Ugh! The CLEAN UP! River cottage dreams shattered. Levees are tested & we have passed, for the most part, at the moment. My visit to New Orleans the year after the flood for the National Association of Realtors Convention was so eye opening. The speed and power of water and the length of time to recover has been so underestimated. I pray for those NOLA folks, still. It is such a beautiful sad place with huge heart attempting to heal.
Thanks to prayers, engineering wonders, helpful hands and sand bags St. Louis and the Metro East are doing fairly well battling the water at the moment. The area has experienced tragic loss of life, property, irritating numerous clients with roof leaks, many wet basements, overflowing gutters, soggy ground everywhere, closed roads and horrible traffic.
In 1993 my Mother lived in East Carondelet IL with one home between hers and a swollen levee. We moved her out and back again, she and the property thankfully survived. It took awhile to get her to move, but we are all now happy she is safely in Crestwood, aware from flood risk.
That '93 year the charming town of Valmeyer, IL was flood ravaged and eventually was moved up the hill to a new location. I understand so was Pattonsburg and Rhineland, MO. What has become of those towns I do not know.
While visiting my Grandmother this week she shared her Reynolds County Courier newspaper detailing flooding of Ellington, home of our grandfather Foy Haywood. It ripped through that sweet historic town. A well respected man, Mr. Baker was lost trying to removed debri from the bridge in front of his home. The flooding must have caught people by surprise.
The sweet little town of Piedmont was seriously flooded. As was one of our favorite parks, Sam A Baker State Park. I remember as I child climbing the roots of huge trees that were ripped from the earth along the river there.
Being in the center of the country I thought we may be insulated from the wild, perhaps global warming, weather that the world has been experiencing. Thsi winter and even a single day has shown rain, snow melting, spring and winter in the same day with 50 degree temp drops in half a day.
I am ready for Spring with kind & gentle showers that grow flowers, planting the herb garden and allow for a little pestilence. I pray for the strength, healing, people, property and the land of ours.
Thursday, March 27, 2008
Thursday, March 20, 2008
Rates Mid 5s Now!
Rates expected to go down, so at mid fives... fed lowered by .75, consumer rates sprung up. Market up rates down and home equity rates down. It can be confusing but still all good!
Today consumer rates down to mid fives again. Get locked quick if you are in the market. Keep you money in your pocket! Remember rates change constantly. Good Luck!
Today consumer rates down to mid fives again. Get locked quick if you are in the market. Keep you money in your pocket! Remember rates change constantly. Good Luck!
Wednesday, March 19, 2008
MATCH DAY FAQs St. Louis, MO! Wash U and SLU Welcomes YOU! Jane Gallagher does too!
Welcome to St. Louis MO! Great properties in the home, condo and loft markets! Our market has everything Buyers need. I love to welcome people to St. Louis and help them toward their SOLD goals, so they can move on to help the world in their own way.
Depending on your affiliation, can get great financing options through Physician Programs, WUSTL or SLU school targetted areas, or even MHDC and Beyond Housing. You need to see what fits your needs and there will be competition in the Buyers market. The homes can fit your needs for 1 year - infinite years of enjoyment. Let me help you find the right spot and created the right strategy to get your home bought and sold when timing is right!
In my experience the big questions to know and answer are listed below.
Buyers and Sellers need to be aware BIGGEST items are...
How fast can I get to where I live from school or hospital or lab or work?
Can I walk?
How far is the drive?
Does Metrolink take me where I need to go?
What about parking? Secure? Parking lot? Garage?
I don't want to have to fix anything!
I am going to be crazy BUSY!
Is there storage?
Can I have a roomate?
Will it work fo rmy spouse, kids, pets?
Can I afford it?
Is it a wise investment?
Can I trust you? YES! I am happy to provide references to Home Buyers and Sellers who wish to connect with the match day future St. Louis, Missouri area residents! I have references from smart MDs, PHds, Atty, and Research Professionals.
My Mission is ... Living & Working by the Golden Rule! Call any time!
Cell 314-629-6929 or
Special Agent 877-USA-0007
Depending on your affiliation, can get great financing options through Physician Programs, WUSTL or SLU school targetted areas, or even MHDC and Beyond Housing. You need to see what fits your needs and there will be competition in the Buyers market. The homes can fit your needs for 1 year - infinite years of enjoyment. Let me help you find the right spot and created the right strategy to get your home bought and sold when timing is right!
In my experience the big questions to know and answer are listed below.
Buyers and Sellers need to be aware BIGGEST items are...
How fast can I get to where I live from school or hospital or lab or work?
Can I walk?
How far is the drive?
Does Metrolink take me where I need to go?
What about parking? Secure? Parking lot? Garage?
I don't want to have to fix anything!
I am going to be crazy BUSY!
Is there storage?
Can I have a roomate?
Will it work fo rmy spouse, kids, pets?
Can I afford it?
Is it a wise investment?
Can I trust you? YES! I am happy to provide references to Home Buyers and Sellers who wish to connect with the match day future St. Louis, Missouri area residents! I have references from smart MDs, PHds, Atty, and Research Professionals.
My Mission is ... Living & Working by the Golden Rule! Call any time!
Cell 314-629-6929 or
Special Agent 877-USA-0007
Tuesday, March 18, 2008
Rates are dropping!...
That's what I am hearing! The feds are cutting again, trying to find solutions & hopefully will have a positive impact on the country. Financing refis are a viable option. I am doing financing through my parent company now and received a note to act NOW!
The word on the street is that Fannie Mae is tightening up. The lenders are all but eliminating standard 100% mortgages that have been a staple in the recent past. FHA will still offer the 97% loan products with more flexibility than conventional. The qualification is going to getting tougher, even for those who have high credit scores, consistent incomes and some equity. All risk takes a hit. There is a risk attached to Home Equity Loans that are adjustable, too. Lenders who have a high home equity portfolios are being seen as higher risk. I am personally projecting rents to increase, even if property values are not increasing the same as they were before. Hello investors!
The word on the street is that Fannie Mae is tightening up. The lenders are all but eliminating standard 100% mortgages that have been a staple in the recent past. FHA will still offer the 97% loan products with more flexibility than conventional. The qualification is going to getting tougher, even for those who have high credit scores, consistent incomes and some equity. All risk takes a hit. There is a risk attached to Home Equity Loans that are adjustable, too. Lenders who have a high home equity portfolios are being seen as higher risk. I am personally projecting rents to increase, even if property values are not increasing the same as they were before. Hello investors!
Maplewood Richmond Hts, MO State Basketball Champs!
Another BIG State Champion win for school in St. Louis, Missouri Metropolitian area! Maplewood Richmond Heights! Congratulations! MRH! One of my High Schools! My fun friend Lydia and the rest, did whistling & shouting for our Blue Devil teams in the day when we were cheerleaders at MRH. Oh, what fun! These young men won the Semi-final by 1 pt over Hogan and the Championship game by one point over local Lutheran North High School. WOW! You can't get much more exciting than that in a ride to the top!
Celebration info at Maplewood Richmond Heights School District Website:
http://www.mrhsd.org/pages/news/2008/03_06_boysgame.shtml
The Maplewood and Richmond Heights communities share a school district and many positive benefits in what some call the golden triangle of St. Louis County. These communities continue to develop new restaurant destinations, children's theatre, school kudos and increasing property values! I wish I had invested in this sweet spot ten years ago! It is such an easy location between 44 & 40 on the edge of the cities of Clayton, Webster Groves, and the city of St. Louis. While a great investment, fairly easy on the wallet. NIce amenities, Pools, The Heights Recreation Centers, Libraries, businesses. Very Cool spot!
Celebration info at Maplewood Richmond Heights School District Website:
http://www.mrhsd.org/pages/news/2008/03_06_boysgame.shtml
The Maplewood and Richmond Heights communities share a school district and many positive benefits in what some call the golden triangle of St. Louis County. These communities continue to develop new restaurant destinations, children's theatre, school kudos and increasing property values! I wish I had invested in this sweet spot ten years ago! It is such an easy location between 44 & 40 on the edge of the cities of Clayton, Webster Groves, and the city of St. Louis. While a great investment, fairly easy on the wallet. NIce amenities, Pools, The Heights Recreation Centers, Libraries, businesses. Very Cool spot!
Saturday, March 15, 2008
Webster Groves, Statesmen Basketball Missouri State Champions!
Congratulations St. Louis Metro Area Webster Groves High School & Statesmen Basketball Missouri State Champions!
http://schools.webster.k12.mo.us/education/sportszone/sportszone.php?sectionid=2308
http://schools.webster.k12.mo.us/education/sportszone/sportszone.php?sectionid=2308
FHA News
The historical view of FHA has persisted, but it is not the same as it used to be! It is not a pain for Sellers, anymore than a home sale inspection. A client told me yesterday they thought it was just for "poor people." Interesting, I never thought of it that way. Since I've been in the business it has been a positive program that is a solutions for some of my clients.
It is a good option and newly modified to be an even better option! It is a fit for many buyers who don't have the traditional 20% down payment and may have a little higher debt to income ratio. But the properties do have to qualify, as well as the buyer and may be a bit more to navigate with condos. The association have to have manged the properties for over a year, the occupancy has to meet rations, and cannot have a first right of refusal. Ask your lender about specific property guidelines. In the St Louis Homes market our average is not as high as the national limits below.
Currently the rules & regs for lenders protecting their risk is fluid at best. Yesterday I understand there was a 5.5 FHA which was very nice! Keep in touch with your lenders and be ready to lock. Be aware that the rules keep changing so try work with the people who are your advocates.
cnnmoney.com below... Let me know if I can help you & yours!
"Lawmakers have been working on legislation to reform the FHA to modernize its standards so that they reflect changes to the housing market in the past 30 years. Among the changes on tap, lawmakers will:
Permanently raise loan limits. The economic stimulus bill passed in February temporarily increased the limit on loans eligible to be FHA-insured. The ceiling until Dec. 31, 2008 is now $729,750, up from the normal $362,790 for single-family homes. Those are the ceilings for high-cost areas. The ceiling is lower in low-cost housing markets.
Reduce down payment requirements. Homeowners would no longer be required to have 3% equity or the cash equivalent to get an FHA-insured loan. The House bill would allow borrowers to get an FHA-insured loan with 0% down if they can show they can afford the mortgage payments. The Senate bill requires 1.5%.
Make it easier for borrowers in high-cost loans to refinance. The House bill would let some homeowners in default or at risk of default refinance into an FHA-insured loan.
The changes to the FHA are intended modernize the loan program, which, like a lot of low- and middle-income people, had essentially been priced out of many housing markets. In 2005, there were roughly 5,000 FHA loans made, down from 109,000 in 2000." from CNNmoney.com March 10, 2008
It is a good option and newly modified to be an even better option! It is a fit for many buyers who don't have the traditional 20% down payment and may have a little higher debt to income ratio. But the properties do have to qualify, as well as the buyer and may be a bit more to navigate with condos. The association have to have manged the properties for over a year, the occupancy has to meet rations, and cannot have a first right of refusal. Ask your lender about specific property guidelines. In the St Louis Homes market our average is not as high as the national limits below.
Currently the rules & regs for lenders protecting their risk is fluid at best. Yesterday I understand there was a 5.5 FHA which was very nice! Keep in touch with your lenders and be ready to lock. Be aware that the rules keep changing so try work with the people who are your advocates.
cnnmoney.com below... Let me know if I can help you & yours!
"Lawmakers have been working on legislation to reform the FHA to modernize its standards so that they reflect changes to the housing market in the past 30 years. Among the changes on tap, lawmakers will:
Permanently raise loan limits. The economic stimulus bill passed in February temporarily increased the limit on loans eligible to be FHA-insured. The ceiling until Dec. 31, 2008 is now $729,750, up from the normal $362,790 for single-family homes. Those are the ceilings for high-cost areas. The ceiling is lower in low-cost housing markets.
Reduce down payment requirements. Homeowners would no longer be required to have 3% equity or the cash equivalent to get an FHA-insured loan. The House bill would allow borrowers to get an FHA-insured loan with 0% down if they can show they can afford the mortgage payments. The Senate bill requires 1.5%.
Make it easier for borrowers in high-cost loans to refinance. The House bill would let some homeowners in default or at risk of default refinance into an FHA-insured loan.
The changes to the FHA are intended modernize the loan program, which, like a lot of low- and middle-income people, had essentially been priced out of many housing markets. In 2005, there were roughly 5,000 FHA loans made, down from 109,000 in 2000." from CNNmoney.com March 10, 2008
Wednesday, March 12, 2008
FREE MONEY in St. Louis Missouri
WOW! Finally starting my first blog! Please...Let me know if you have thoughts and ideas for me.
The title says “Hot St. Louis Homes” so I’ll start with what is HOT here in St. Louis … FREE MONEY!!!
I wish I qualified to be a first time buyer right now!
In reality the rates are amazing and if you are financially able to buy, you should do it! Buyers do need to be realistic about their first home may not have it all… for example granite, loads of closet space, luxury baths, though some do. Their first home is likely not going to be their last. While there are confident Buyers here… an educated Buyer knows the well priced, best presented properties do sell competitively and knows when to move fast. Most Sellers are adjusting, yet they do have limits. They are not always going to give in to what they believe to be unreasonable demands.
Every wise investor will tell you… To do well, you have to BUY RIGHT!
A quote from a nice letter from one of my clients.
“We have just refinanced our home that we purchased 23 months ago. A new appraisal was done and the value has increased by $38000. We have made virtually no improvements to the property so the main reason for the 27 percent increase in value was due to “Buying Right.” This Right Location; Right Price; was determined by your expertise in real estate and your honesty in advising us.” Milton & Sally Billiet
I love helping people find what fits and is a great investment. Even the 100% Buyers are given great opportunities. In the St. Louis, MO area there are Missouri, MHDC, county and Non-Profit Buyer Education programs, such as Beyond Housing, for those who qualify as first time home buyers and they can get 3000-13000 at closing to be applied to closing costs and down payment assistance. Depending on the program, there are guideline qualifications regarding income, property condition, county, and of course require, jumping through a few hoops. Some are grants, some are loans at 0%, some are deferrred til you sell and some you pay back a portion of the the benefit if you move within so many years. It is not one size fits all and the does money runs out. But like anything else in life, making the plan so you are ready for opportunity is the first step. It doesn't happen overnight. You have to work with qualified lenders that have gone through process to be approved by the programs and follow the rules of the programs.
Missouri Association of Realtors has a great informational website about Home Buying & financing programs
go to www.Mohomeprograms.org for info.
I copied these links to make it easy:
"Missouri Home Programs provides a summary of housing related programs for home buyers in the state of Missouri. A number of programs provide home buying assistance to individuals based on income.
Search Assistance Programs
Search Loan Products
100 Questions & Answers for Buying a Home "
Enjoy the journey! Let me know if I can help!
The title says “Hot St. Louis Homes” so I’ll start with what is HOT here in St. Louis … FREE MONEY!!!
I wish I qualified to be a first time buyer right now!
In reality the rates are amazing and if you are financially able to buy, you should do it! Buyers do need to be realistic about their first home may not have it all… for example granite, loads of closet space, luxury baths, though some do. Their first home is likely not going to be their last. While there are confident Buyers here… an educated Buyer knows the well priced, best presented properties do sell competitively and knows when to move fast. Most Sellers are adjusting, yet they do have limits. They are not always going to give in to what they believe to be unreasonable demands.
Every wise investor will tell you… To do well, you have to BUY RIGHT!
A quote from a nice letter from one of my clients.
“We have just refinanced our home that we purchased 23 months ago. A new appraisal was done and the value has increased by $38000. We have made virtually no improvements to the property so the main reason for the 27 percent increase in value was due to “Buying Right.” This Right Location; Right Price; was determined by your expertise in real estate and your honesty in advising us.” Milton & Sally Billiet
I love helping people find what fits and is a great investment. Even the 100% Buyers are given great opportunities. In the St. Louis, MO area there are Missouri, MHDC, county and Non-Profit Buyer Education programs, such as Beyond Housing, for those who qualify as first time home buyers and they can get 3000-13000 at closing to be applied to closing costs and down payment assistance. Depending on the program, there are guideline qualifications regarding income, property condition, county, and of course require, jumping through a few hoops. Some are grants, some are loans at 0%, some are deferrred til you sell and some you pay back a portion of the the benefit if you move within so many years. It is not one size fits all and the does money runs out. But like anything else in life, making the plan so you are ready for opportunity is the first step. It doesn't happen overnight. You have to work with qualified lenders that have gone through process to be approved by the programs and follow the rules of the programs.
Missouri Association of Realtors has a great informational website about Home Buying & financing programs
go to www.Mohomeprograms.org for info.
I copied these links to make it easy:
"Missouri Home Programs provides a summary of housing related programs for home buyers in the state of Missouri. A number of programs provide home buying assistance to individuals based on income.
Search Assistance Programs
Search Loan Products
100 Questions & Answers for Buying a Home "
Enjoy the journey! Let me know if I can help!
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