VA Loans Post Biggest Year on Record in 2013

Since I work so much with military clients and I already have the certification of an Military Relocation Professional, I thought this would be a good article for Military personal and Veterans alike. So many people do not realize they qualify for VA Loans, which is a great product. 100% financing and if you can get the seller to pay closing cost a lot of times there is no money to be brought to the settlement table. Please if you would like to learn more contact us at www.MarylandHomesbyLynn.com

DAILY REAL ESTATE NEWS | MONDAY, JANUARY 13, 2014

The Department of Veterans Affairs announced that the number of loans it guaranteed reached a record high in 2013.

The VA guaranteed nearly 630,000 mortgage loans in 2013, says Mike Frueh, the director of the VA’s Loan Guaranty Program. The average loan was about $225,000. The VA’s total loan volume has soared about 372 percent since 2007, according to Chris Birk, the executive editor at Veterans United Home Loans.

The New York Times reports that one reason for the increase is historically low interest rates, which have driven a high demand for refinancing loans. The paper notes that about half of last year’s VA loans were for the purpose of refinancing. However, that business did drop off a bit toward the end of last year as interest rates increased.

An overall tight lending environment is also making VA loans more attractive to service members. 

“It’s become so much more difficult for military personnel and veterans to qualify for conventional financing,” Birk says. “This is the only path to homeownership for many.”

VA loans do not require a downpayment for first-time home buyers, and about 90 percent of all VA-guaranteed loans for home purchases are made without any money down. The loans also do not require private mortgage insurance. 

The three states that have seen the largest increase in VA loan activity in the last year are Arizona (up 40 percent in 2013 over 2012), Ohio (30 percent), and Connecticut (30 percent). 

Late last year, the Center for Specialized REALTOR® Education launched the Military Relocation Professional Certification a one-day program that trains real estate practitioners on the special skills needed to help veterans and service members engage in real estate transactions.

Thanks for stopping by and again any questions just please get in touch with us at www.MarylandHomesbyLynn.com

Well, I thought I would do another blog post about getting your house ready for the sale. Lot's of people put their houses up in the market in the spring time. As a Realtor I can say that it is so important when you put your house in the market that you have it in good repair, clean and organized. When showing houses there is nothing worse than going in a bedroom and see a cluttered bedroom, it makes them look smaller. So I found a video from Better Homes and Garden about small bedroom storage. This should be very helpful and give you some great ideas. If you ever have any questions please don't hesitate to contact us at www.MarylandHomesbyLynn.com. 

Please click on the photo below to view video...

Thanks again for visiting us today and don't forget to check out our website at www.MarylandHomesbyLynn.com

Dress Up the Laundry Room With Staging

Well, the home selling season is quickly coming upon us, before you know it people will be scrambling to get their houses ready to sell. With this cold snap and having to stay in why not start now. I found an article written by Melissa Dittmann Tracey of the Realtor magazine, I thought this was really good because it is about staging your laundry room, a very overlooked area. So you know staging is not necessary remodeling but is so much about cleaning and being in good repair. You should enjoy this article.

If you have any Real Estate questions or need help please don't hesitate to contact us at www.MarylandHomesbyLynn.com

Traditional Laundry Room by Decatur Interior Designers & Decorators Colordrunk Designs

Laundry rooms are an important part of the house for home buyers, but this space can often get overlooked when it comes to staging. After all, how much can you really do to spruce up a washer and dryer, particularly if the laundry room is only a small room or even inside a closet?

But regardless of how much space your listing has, you’d be amazed at what a little staging can do to make buyers consider the laundry room a more inviting space and not just a dreaded space for chores.

Here are some ideas you that should help you.

Add storage: There are plenty of options, from cabinets, shelves, hanging rods, baskets, to drawers under the washer and dryer. Storage can be an important part of making a laundry room more functional and less cluttered. Home owners will want a place to tuck away all of those laundry supplies and a the space that leaves an impression as clean as the clothes coming out of the washer and dryer.

Create a folding station: Find a place for a countertop, such as over cabinets or even a countertop over the washer and dryer. If the room is large enough, you could even do a table or folding station island in the middle. If it’s smaller, a small table may suffice. But have an area devoted to folding clothes or at least big enough to store a laundry basket, besides the floor.

Enhance with color: Warm the laundry room up with a comforting color on the walls, such as a soft blue. Or, add a colorful rug or even a fun print – such as in damask — to an ironing board cover. If your listing’s laundry room is in a closet, add shelves above the washer and dryer and use wallpaper behind the shelves to dress it up.

Click on the following  link and it will provide  you more images from Melissa Images of Laundry Rooms.

Thanks so much for stopping by today, and please visit us anytime at MarylandHomesbyLynn.com

For Those Who Held On, Equity Has Returned

Thought this would be a great article, great news for folks that have held onto their homes and weathered the housing crisis. Home values made a huge jump in 2013. Have a read and if you have any questions please contact us at www.MarylandHomesbyLynn.com

DAILY REAL ESTATE NEWS 

Home prices surged 11.3 percent this year compared to 2012, the latest housing data by the National Association of REALTORS® shows. A rise in home prices has pulled more home owners out from underwater with the return of equity this year, NAR notes. 

On NAR’s Economists’ Outlook blog, researchers explain that a borrower who bought a median-priced home in 2004 and held it for nine years – the average tenure in a home – would now have $28,114 in equity (includes combined price appreciation and paying down mortgage principle). 

A home owner who purchased a median priced home in 2012 would have more than $23,000 in equity, according to NAR research.

Home owners who purchased in 2006  and 2007 – during the peak of the market – have faced the biggest falls in home prices, but NAR researchers note they are “nearly in positive equity” territory. A home owner who bought a home in 2006, for example, and owned through 2012 would have been underwater by about $28,200. However, by this year, that downfall has lessened to $4,700. 

Home owners who bought since 2007 are mostly in positive equity, according to NAR research.

A study released last week by CoreLogic showed that more home owners were regaining equity. About 13 percent of all homes with a mortgage remain in negative equity by the end of the third quarter, compared to 14.7 percent who stood in negative equity at the end of the second quarter.

Thanks so much for stopping by today and again visit us at www.MarylandHomesbyLynn.com

Yes They Are Booties on Bacardi

Hi All, Bacardi here from Bacardi's corner. With this drastic cold snap in most of the country, thought would be a good time to introduce you to an idea that may make life a lot better for your furry kids. 

As you can see I am wearing a pair of boots, Lynn calls them Uggs. Now at first I did not like them, and to be honest I tried to paw smack Lynn for putting them on. Once I got outside and my paws were not cold, I was like this is "Awesome!" The sweater nice added touch keeps me a little warmer and besides I am rockin' this look. I see other dogs out in this cold and they are limping trying to lift up there paws, trust me humans in the ice and snow are paws get cold. Also when there is ice you humans spread the ice melt, with these on I don't have to worry about it getting stuck on my paws and licking it off, that ice melt is poison to us.

So check your local pet store or go online and see what kinda of booties you can find for your four legged kids. Trust me they will appreciate. Until next time have a Safe and Happy Winter.



Thanks for stopping by our blog today and visit us on my website at www.MarylandHomesbyLynn.com

7 Seven Tips For Staying Safe During a Storm

Hot off the press from ABC News with the winter storm thought this would be a great article for everyone out there


By Alyssa Newcomb

Jan 3, 2014 6:00am

(Image Credit: Scott Olson/Getty Images)

The first big snow day of this winter has arrived in the Northeast, bringing with it freezing temperatures and as much as 14 inches of fresh powder.

If you’re in an area being walloped by the winter weather, we hope you’re hunkered down somewhere warm (preferably at home) with a hot beverage by your side.

The U.S. Centers for Disease Control and Prevention offers these emergency preparedness tips for staying safe during a winter storm:

• Relax, take it easy. Cold weather puts an extra strain on the heart. If you must trek through the snow or do chores, dress warmly and work slowly.
• Be extra vigilant with the sources of heat in your home. Fireplaces, wood stoves and other combustion heaters should only be used if they have proper outside ventilation and there aren’t any leaks. Make sure space heaters are at least 3 feet away from anything that could catch fire, such as drapes or bedding.
• If there’s a power outage, use battery-powered flashlights or lanterns. If you must use candles, do not leave them unattended.
• Conserve heat inside your home by opening windows and doors only if necessary. 
• Check on elderly relatives and neighbors to make sure they have enough food, heat and supplies to wait out the storm.
• Try to prevent your pipes from freezing or rupturing by leaving all taps slightly open so they drip continuously. If your pipes do freeze, thaw them slowly with the warm air from an electric hair dryer.
• Avoid travel, but if you must, let someone know your destination and when you expect to arrive. Make sure you’re dressed warmly and your vehicle is stocked a winter weather survival kit, including water, matches, a flashlight, chains and emergency flares. Carry extra warm winter gear such as a sleeping bag and blankets in case your car breaks down and you lose heat.

Lynn Nichols Real Estate wishes you a very safe day today!!! Visit us at www.MarylandHomesbyLynn.com

More Than 3 Million Regained Equity in 2013

For the year 2013 we have seen a jump in housing prices, which is great. Home owners for the most part have equity in their homes now. It is looking very promising in the year 2014. I also ran across this article in the Realtor magazine, and as always if you need any help or have any Real Estate questions please contact us at www.MarylandHomesbyLynn.com

DAILY REAL ESTATE NEWS | THURSDAY, JANUARY 02, 2014

Home prices rebounded in 2013, helping more than 3 million home owners regain long-lost equity, according to CoreLogic’s latest MarketPulse report. 

"We’re encouraged by the improvements of the past year and have every reason to be cautiously optimistic about continued progress in 2014. That said, monitoring the current and potential headwinds the industry faces is critical," says Anand Nallathambi, president and CEO of CoreLogic.

More than two-thirds of all homes with a mortgage now have at least 20 percent equity, giving home owners more options in the housing market in the new year and increasing their employment mobility. 

Still, 6.4 million residential properties have negative equity, and a third of those are concentrated in five states: Nevada, Florida, Arizona, Ohio, and Georgia. 

Some of the biggest jumps in home prices over the last six months has occurred in Chicago and Raleigh, N.C., CoreLogic reports. 

"That acceleration is consistent with our prior analysis, which showed that Chicago has had the most rapid growth of any market for owner-occupied purchase transactions in the past two years," the report said. 

Thanks again for stopping by today and don't forget to visit us at www.MarylandHomesbyLynn.com