tag:blogger.com,1999:blog-12981238286535855462024-02-18T23:01:13.246-08:00George Sinacori"Simply Better"
*** 561-306-6736 / rebuygeorge@gmail.comGeorge Sinacorihttp://www.blogger.com/profile/09273142915343534273noreply@blogger.comBlogger113125tag:blogger.com,1999:blog-1298123828653585546.post-7775221653686678132020-12-02T11:38:00.000-08:002020-12-02T11:38:16.509-08:00Handle With Care !<p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhXBnDoE97L1lOYBwiMO6CNlaVcjibdDa8ljpvX98GhajPzIcWxHjGX7QIJ-mnL89Xfv0w4QQbe19rkYeglPtldPUa03L0BxtSucv2QY2nNk0gsnRVUisQQeXW4DH0JuTIj5dEXd0YF7Oyr/s616/kids+masks+%25282%2529.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" data-original-height="616" data-original-width="463" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhXBnDoE97L1lOYBwiMO6CNlaVcjibdDa8ljpvX98GhajPzIcWxHjGX7QIJ-mnL89Xfv0w4QQbe19rkYeglPtldPUa03L0BxtSucv2QY2nNk0gsnRVUisQQeXW4DH0JuTIj5dEXd0YF7Oyr/w151-h200/kids+masks+%25282%2529.jpg" width="151" /></a></div><p></p><p> </p><p>Working retail for the past 7+ years has of course allowed me to meet lots of different people from very diffrerent backgrounds, different shopping preferences, and various outlooks on any given state of affairs. We of course do our best, whenever possible, to provide an enjoyable experience for every customer we meet. Ocassionally we meet people who unknowingly make our day pleasant and even exceptional just by being who they are. I recently had one of these experiences and it has been a daily reminder of how good people can make us better. </p><blockquote style="border: none; margin: 0 0 0 40px; padding: 0px;">Our store is located in a mall and on Saturday afternoon we have a fairly high volume of teens and pre-teens in the mall and subsequently visiting our store. On this particular Saturday afternoon two young ladies (pre-teen definitly) I would guess 11 year olds approached me with a product that they purchased earlier and asked if they were allowed to return it. "I bought it for my brother but my Mom said that he has one" she explained. I said of course you can and I noticed that they were both wearing a mask for Covid protection. I thanked them for being so polite and for wearing the mask. These girls went on to explain that they only go out together with 2 or 3 of their freinds, classmates and always wear a mask whenever they do. They said that they take turns shopping for each other by using thier phones to show pictures and then using Venmo or Zelle to pay each other as they shopped. They told me that it's much more important to stay safely apart even though we miss hanging out together. I asked what they did when they got hungry while they were shopping. They replied that they asked their Moms to pack some snacks and that they would sit in uncrowded area (definetly not a food court) to eat. Our Moms take turns picking us up and driving us home when we finish shopping. </blockquote><p> I was so taken and impressed with these young ladies. I thanked them again for being so dilligent and careful during this difficult time for us all. I told them that by taking those pre cautions they were not only protecting themselves but they were protecting each other and everyone that they meet, like me! One of the girls got very excited and said to her freind "Oh that's something that we can tell our teacher and maybe we can share it with the Class!"</p><blockquote style="border: none; margin: 0 0 0 40px; padding: 0px;">These kids and so many like them are smart, careing, adaptable and our future. </blockquote><p> <b>Handle with kid gloves please.</b></p><blockquote style="border: none; margin: 0 0 0 40px; padding: 0px;"><p></p></blockquote><blockquote style="border: none; margin: 0 0 0 40px; padding: 0px;"><div style="text-align: left;"><div class="separator" style="clear: both; text-align: center;"><br /></div></div></blockquote><blockquote style="border: none; margin: 0 0 0 40px; padding: 0px;"><div style="text-align: left;"><br /></div><p></p></blockquote><p> <br /></p>George Sinacorihttp://www.blogger.com/profile/09273142915343534273noreply@blogger.com0tag:blogger.com,1999:blog-1298123828653585546.post-65814089288563155562020-08-10T09:25:00.000-07:002020-08-10T09:25:10.752-07:00Think Happy - Be Happy<p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEii6BXaz9QRGkDPddFRWjrateCnibqOYaKnpB05MFkX5HJScve9OnxsJ_JslxpmdVXRbKTCFqRam5H5E2N1Dd0ei1jogHccQbf8TixdWQIlMxkOmkVX1ed_M6kIuZbbctTL_T55YsNgowiW/s225/be+happy.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" data-original-height="225" data-original-width="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEii6BXaz9QRGkDPddFRWjrateCnibqOYaKnpB05MFkX5HJScve9OnxsJ_JslxpmdVXRbKTCFqRam5H5E2N1Dd0ei1jogHccQbf8TixdWQIlMxkOmkVX1ed_M6kIuZbbctTL_T55YsNgowiW/s0/be+happy.jpg" /></a></div><h2 style="text-align: left;"> <span style="color: red; font-weight: normal;">Think Happy - Be Happy</span></h2><p></p><p><b><i>Happiness comes from within.</i></b> Learn how to approach each nd every day with optimism. When you're feeling down about yourself, ask yourself what advice you would give a friend, then try taking your own advice.</p><p><b><i>Move around, don't sit around.</i></b> Physical activity helps to give us greater happiness and health.</p><p><b><i>Practice Optimism.</i></b> Thinking positive thoughts and surrounding yourself with positive people really does help. Optimism, can be infectious. Try to socialize with optimistic people (even on social networks).</p><p><b><i>Declutter </i></b>(But Save What Makes You Happy). Getting organized is good for both mind and body — A visit to <a href="https://www.containerstore.com" target="_blank"><b>The Container Store</b> </a> can turn any cluttered space into a happy place. <a href="https://www.containerstore.com/organization-projects/all/project">An organized pantry or closet for instance always makes us happy. We can all use help with our home office these days. The Container Store has happy solutions for all of our projects.</a></p><p><b><i>Spend Time With Happy People. </i></b>People who are surrounded by happy people are more likely to become happy.</p><p><b><i>Value at work.</i></b> Feeling cared for by one’s managers and co-workers has a significant impact on people’s sense of trust and safety. Employees who have workplace support are more likely to stay with the organization and they are more engaged in thier jobs.</p><p><b><span style="color: red;">So Think Happy and Be Happy!</span></b></p><div><br /></div>George Sinacorihttp://www.blogger.com/profile/09273142915343534273noreply@blogger.com0tag:blogger.com,1999:blog-1298123828653585546.post-30357795543068361252020-04-23T12:54:00.000-07:002020-04-23T12:54:17.421-07:00Pandemic Effects on Homebuying<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi0eTSu8ltmXAev0CS1zvodBnow92exdU1pUWkpmSc6mkvU_V0KS3h3z8YfkndYc_ADFJ4EYIY0h622foWdeDQemOXfW41B9YvVbvs8elmhF42nIKjaLdXIqyRAbn2CVd6DG4UQFSmR2Nm8/s1600/Pandemic+effects+on+Homebuyers.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" data-original-height="168" data-original-width="300" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi0eTSu8ltmXAev0CS1zvodBnow92exdU1pUWkpmSc6mkvU_V0KS3h3z8YfkndYc_ADFJ4EYIY0h622foWdeDQemOXfW41B9YvVbvs8elmhF42nIKjaLdXIqyRAbn2CVd6DG4UQFSmR2Nm8/s1600/Pandemic+effects+on+Homebuyers.jpg" /></a><span style="font-size: large;">Unemployed or laid off by the <span style="color: red;">COVID-19 </span>pandemic, thousands of prospective homebuyers are now struggling to make ends meet.</span><br />
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<span style="font-size: large;">For most of those
who are eligible, unemployment compensation is seemingly unattainable, with applications overwhelming the state web sites and a serious lack of trained personnel available to process applications, these outdated, archaic systems have failed.</span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;">Being victims of a failed system that has misled hard working folks and left most with no available financial assistance, unemployed breadwinners have no choice but to turn to their
savings, including emergency savings and any savings they may have for down payments in order to provide for themselves and their families. </span><br />
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<span style="font-size: large;"><b><span style="color: red;">It's a blessing if they have a cushion for a crisis like this one.</span> </b></span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;">Relying on emergency savings may be the only way to manage through this crisis. The reality that many
Americans face however, is that they simply don’t have enough savings set aside for that purpose. Keep
in mind that the recommended minimum amount of emergency savings should equal to three
months of net income per household. That makes it considerably harder for individuals and
families to avoid borrowing to cover necessary expenses.</span><br />
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<span style="font-size: large;">When lives return to normal, these would be first-time buyers will need to
start over, to restore their credit, their savings and any homeownership dreams. By that time, the markets will need to figure out how to restore more affordability to
markets across the nation. </span>George Sinacorihttp://www.blogger.com/profile/09273142915343534273noreply@blogger.com0tag:blogger.com,1999:blog-1298123828653585546.post-23660839791515265552019-08-23T14:09:00.000-07:002019-08-23T14:09:01.749-07:00Job Satisfaction <br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjQy2UCAzDL1kzKOAcsXAHVQoSPaMQmF_-u5WfyLlJs5Tw11G0CMVi_ObC6OdAbd3QCmiTQMhEv0wOXoBzG4Kad3SMS4qTcDjk59OpCA-Xpd2LpZIQRoBE7-AnyvBjVF8eNOVEJ-z8v8fFG/s1600/job+satisfaction.jpg" imageanchor="1" style="-webkit-text-stroke-width: 0px; color: #0066cc; font-family: Times New Roman; font-size: 16px; font-style: normal; font-variant: normal; font-weight: 400; letter-spacing: normal; margin-left: 1em; margin-right: 1em; orphans: 2; text-align: center; text-decoration: underline; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px;"><img border="0" data-original-height="146" data-original-width="227" height="128" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjQy2UCAzDL1kzKOAcsXAHVQoSPaMQmF_-u5WfyLlJs5Tw11G0CMVi_ObC6OdAbd3QCmiTQMhEv0wOXoBzG4Kad3SMS4qTcDjk59OpCA-Xpd2LpZIQRoBE7-AnyvBjVF8eNOVEJ-z8v8fFG/s200/job+satisfaction.jpg" width="200" /></a></div>
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjQy2UCAzDL1kzKOAcsXAHVQoSPaMQmF_-u5WfyLlJs5Tw11G0CMVi_ObC6OdAbd3QCmiTQMhEv0wOXoBzG4Kad3SMS4qTcDjk59OpCA-Xpd2LpZIQRoBE7-AnyvBjVF8eNOVEJ-z8v8fFG/s1600/job+satisfaction.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"></a><br /> In Organizational Behavior, job satisfaction is one of the most researched variables in the workplace. <i><b>So, what is job satisfaction?</b></i><br /><br />
Is it simply how content an individual is with his or her job, in other words, whether or not they like the job or it's individual aspects, such as the nature of work or supervision. It's important because the<br />
result is:<br />
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Lower turnover, higher productivity, increased customer satisfaction, better employee attendance and satisfied employees tend to handle pressure better.<br /><b>All of these help companies to earn higher revenues and that's what's important in business.</b><br />
<b></b><br /><b>Creativity</b><br />Job satisfaction is always higher if creativity is involved. Creative freedom gives a sense of fulfillment when project is complete.<br /><b>On the other hand, in jobs which are monotonous, the employee feels detached. The monotony alienates and hence the job satisfaction level falls drastically.</b><br />
<b></b><br /><b>Pay</b><br />Employees see pay as a reflection of how management views their contribution to the organization. Money not only helps people attain their basic needs but is also instrumental in providing a level of satisfaction.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi46eroSgcPv-AdeyhR50HaqbrDvipjcw-dw9rPd-RJ1lcDHyn8fpZvD1vqqH7Hc1xcjFzmYFbFXL7g5n8xwhTrQpmq9w47RPiuNzxstgH1kU9QDUFbsdEHuXq5YEm1cbWW23LYQVGqFMA8/s1600/appreciation.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="159" data-original-width="318" height="100" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi46eroSgcPv-AdeyhR50HaqbrDvipjcw-dw9rPd-RJ1lcDHyn8fpZvD1vqqH7Hc1xcjFzmYFbFXL7g5n8xwhTrQpmq9w47RPiuNzxstgH1kU9QDUFbsdEHuXq5YEm1cbWW23LYQVGqFMA8/s200/appreciation.png" width="200" /></a></div>
<br /><b>Appreciation</b><br />People love to be appreciated. Even for the smaller job, to have an appreciation from colleagues and boss is important. Being acknowledged in front of everyone for a job well done gives a boost to their morale. When appreciation leads to encouragement, the ultimate result is reflected in the efficiency of work automatically. Therefore,<b> the level of job satisfaction is always higher wherever appreciation is higher.</b><br />
<b></b><br /><b>Fair Policies and Practice</b><br />Individuals who perceive that promotion decisions are made in a fair and just manner are likely to experience satisfaction from their jobs. Very often employees are demotivated and dissatisfied with their jobs because of percieved unfair practices at their place of work.<br /><b>It is therefore of utmost importance for an organization to have a fair and equal system regarding practices and policies so that there is minimal workplace frustration.</b>George Sinacorihttp://www.blogger.com/profile/09273142915343534273noreply@blogger.com0tag:blogger.com,1999:blog-1298123828653585546.post-10789668296831752242019-02-02T08:14:00.000-08:002019-02-02T08:14:23.335-08:00Ethics in the Workplace<b><br /></b>
<b>How important are ethics in a workplace environment? </b> After all we have goals to attain, deadlines to meet, customers to attend to and of course, ourselves to take care of.<br />
<br />I've been in various positions throughout my adult life on both ends of the business spectrum. I've been in positions of authority and subordination. We've all seen or worked with successful honest honorable folks and we've seen unethical people thrive in business as well. So, how important are ethics in the workplace?<br />
<br />
<span style="-webkit-text-stroke-width: 0px; background-color: transparent; color: black; display: inline !important; float: none; font-family: Times New Roman; font-style: normal; font-variant: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: left; text-decoration: none; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px;">Unethical behavior falls outside of what is generally considered morally right or proper. </span> <br />A CEO, or a Manager who has no tolerance for unethical behavior in the workplace sets the<b> standards for excellence.</b><br />
<br />In my opinion, leaders should strive to establish an ethical culture within the organization. That type of leadership may very well be emulated by their employees and filter down throughout the organization.<br />
<br /><span style="-webkit-text-stroke-width: 0px; background-color: transparent; color: black; display: inline !important; float: none; font-family: Times New Roman; font-style: normal; font-variant: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: left; text-decoration: none; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px;"> </span><span style="-webkit-text-stroke-width: 0px; background-color: transparent; color: black; display: inline; float: none; font-family: Times New Roman; font-style: normal; font-variant: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: left; text-decoration: none; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px;">I believe that the health of any organization depends on how important ethical behavior is to the management team. Consequently, how ethical the employees they hire are. </span>A business leader desiring to have a strong ethical workplace should not only weed out unethical employees but include ethical behavior as a prerequisite to hiring new employees. Fair and honest job candidates that are hired over others with questionable ethics can strengthen any organization in any number of ways. They wont mislead nor will they disrespect. They exhibit honesty and respect for the general public, respect for property and respect for peers.<br />
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Putting ethics forefront in any organization can and does ultimately provide everyone with a <b>"pathway to professionalism".</b><br />
<br />To me ethics in the workplace are extremely important. Whether an employer or employee the question you should ask yourself is simple. Can you tolerate working in an unethical workplace? <br />
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<b>George Sinacori</b><br />
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<br />George Sinacorihttp://www.blogger.com/profile/09273142915343534273noreply@blogger.com0tag:blogger.com,1999:blog-1298123828653585546.post-26690291303728848142018-03-14T08:45:00.000-07:002018-03-14T08:45:44.846-07:00Applying for a New Mortgage<div class="separator" style="clear: both; text-align: center;">
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Getting a mortgage <span style="color: #000120;"></span><u></u>can be a frustrating part of buying a home. 42% of home buyers said they found the mortgage experience “stressful & complicated.” It's often a struggle. Things can go wrong.<br />
If you're out to buy a home, you have to be informed. Here are some of the things to be aware of if your looking to buy and you're applying for a new mortgage.<br />
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<b><span style="font-size: large;">20% down payment mistake</span></b><br />
A 20% down payment is attractive to Realtors & mortgage brokers. It also enables you to avoid an extra monthly fee of 0.3% to 1.15% of your total loan amount without private mortgage insurance. <b>But with mortgage rates as low as they are, waiting for that 20% could be a mistake. </b>As time goes on home prices typically rise and rates may very well increase. Realistically it may not be a great idea to wait until you have that much to put down.<br />
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<h2>
Get pre-approved </h2>
<h2>
<span style="font-size: small;">Pre-approval is very different than pre-qualified. Pre-qualification does not require a buyer to provide any documentation. It is a conversation between the mortgage broker and the buyer that may provide a general idea of how much home they can buy. Pre-approval is much more in depth requiring credit check, income verification and assets. It is a much stronger tool. If your serious about buying, a pre-approval is a must. </span></h2>
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<i>Pre-approval requires that you have enough cash reserves to afford the down payment by providing bank statements. Lenders will check that your "cash reserves have remained the same throughout the loan process, so don't move large sums of money around during the process.</i></div>
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<span style="font-size: large;"><b>Don't apply for new credit</b></span><br />
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Any new credit inquiry will affect your credit score. Also a lender underwriter may view your applying for credit line increase or borrowing more negatively and change or deny the mortgage loan. <b>Wait until after you close on the loan to apply for any new credit. </b><br />
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If your considering buying or selling a home in the near future please don't hesitate to contact me directly at 561-306-6736 or<a href="mailto:ges.rellc@ymail.com"> ges.rellc@ymail.com </a>George Sinacorihttp://www.blogger.com/profile/09273142915343534273noreply@blogger.com0tag:blogger.com,1999:blog-1298123828653585546.post-91478149512736271082018-02-06T10:22:00.002-08:002018-02-06T10:22:55.097-08:00Best Tips to Help Sell Your House <div class="parbase smartbody section text customRTE" style="-webkit-text-stroke-width: 0px; background-color: transparent; border-image-outset: 0; border-image-repeat: stretch; border-image-slice: 100%; border-image-source: none; border-image-width: 1; border: 0px rgb(59, 65, 67); box-sizing: border-box; color: #3b4143; font-size-adjust: none; font-stretch: normal; font: 400 14px/21px Gotham SSm, Helvetica Neue, Helvetica, Arial, sans-serif; letter-spacing: normal; margin: 0px; orphans: 2; padding: 0px; text-align: left; text-decoration: none; text-indent: 0px; text-transform: none; vertical-align: baseline; white-space: normal; word-spacing: 0px;">
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<strong></strong> <strong>Crank up the curb appeal:</strong> Pull weeds and trim overgrown shrubs, especially if they block windows or the path to your front door.</div>
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</span><strong>Paint</strong><br />
It's important to make your house generic. A fresh coat of neutral paint will make your home appear larger, brighter and more appealing to potential buyers.<br />
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</span><strong>Make repairs</strong><br />
Things like leaky faucets, sticky cabinets, and torn screens may seem insignificant, but they add up in the mind of a potential buyer. Buyers tend to overestimate how much repairs cost. You don't want to give them any reason not to put in a fair offer.<br />
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</span><strong>Rearrange</strong><br />
Make sure your furniture placement allows for easy traffic flow and shows the purpose of each room. If you have too much furniture, store some until you are ready to move into your new place.<br />
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<strong>Eliminate Clutter</strong><br />
This includes personal photos and portraits. Less is always more. The less clutter you have lying around, the more potential buyers will be able to see your home and what it offers. Buyers are interested in the house, not your stuff. <br />
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</span><strong>Clean and Organize</strong><br />
When the house is organized it displays a stress free lifestyle.<br />
Clean every inch of your house, and don't forget to make your windows and floors sparkle. If your carpet appears old and stained, think about replacing it. Also, make sure there are no offensive odors. Purchase an air-neutralizing spray that will help remove odors without creating an overwhelming masking odor. Clean organized homes sell!<br />
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</span><strong> Brighten it up</strong><br />
Let the sun shine in, and turn on the lights. Open all blinds or curtains, make sure the house is well lit.<br />
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<strong>Make it Comfortable</strong></span><br />
Be sure potential buyers are comfortable when touring your home. Keep the A.C. on if it's warm, and heat on if it's cold. <br />
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</span><strong>Keep it accessible and ready to show</strong><br />
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</strong>It may be a little inconvenient, but until you accept an offer, keep your home accessible and in tip-top shape at all times. What this means is that each room should have a clear purpose, nice flow and be clean and clutter-free. Buyers need to be able to picture themselves and their things in the home.<br />
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If you or someone that you know is considering selling or buying a home in Southeast Florida, please call or contact me for a free no obligation market analysis. <br />
George Sinacori<br />
516-306-6736<br />
<a href="mailto:rebuygeorge@gmail.com">rebuygeorge</a><a href="https://www.blogger.com/null"><a href="mailto:rebuygeorge@gmail.com">@gmail.com</a></a><br />
<a href="mailto:ges.rellc@ymail.com">ges.rellc@ymail.com</a><br />
<br />
<br />George Sinacorihttp://www.blogger.com/profile/09273142915343534273noreply@blogger.com0tag:blogger.com,1999:blog-1298123828653585546.post-48163216890650140762017-06-07T11:49:00.000-07:002017-06-07T11:49:21.898-07:00Two Important Steps for Home Loans<div class="separator" style="clear: both; text-align: center;">
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Are you sitting on the sidelines wondering if you should buy a home?<br />
<br />Information is power, but many homebuyers aren’t evaluating all their options, potentially leaving money on the table. In fact, first-time buyer demand may be being restricted by lack of knowledge. <br />
<br />
According to an article in the Wall Street Journal:<i> "nearly half of U.S. home buyers don’t consult multiple lenders when they are seeking a mortgage, a government report says, raising questions about whether consumers are getting the best possible deal."</i><br />
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You can take two important steps to get educated and learn how to save on your home loan.<br />
<br /><b>1. Shop your loan…and your down payment </b><br />
<br />Nearly half of buyers don’t shop around for their mortgage.<br />An analysis by the Consumer Financial Protection Bureau (CFPB), revealed that 47% never considered more than one lender. The CFPB also debunks the myth that shopping around lenders will hurt your credit score. When multiple credit checks are concentrated over a short period of time, they are typically treated as one inquiry and won’t hurt your credit score, according to the CFPB.<br />
<br />You should not only shop lenders, but also compare different loan types to evaluate your cash needed to close, monthly payments and other fees.<br />
<br />What about the down payment? One of the key misconceptions among buyers is what’s necessary for a down payment. Many mortgage professionals say that consumers either believe that they must have a 20 percent down payment, or that it would difficult to get a home with less.<br />However, there are many low down payment options and down payment programs that can get you in a home much sooner for less down.<br />
<br /><b>2. Research down payment programs.</b><br />
<br />71 percent of Americans don’t know about down payment programs.<br />A recent survey found that most buyers simply are unaware of down payment programs and therefore aren’t even investigating these additional home financing options. Two common misconceptions about down payment assistance are that only low-income buyers can qualify for it, and that it isn’t available to first-time homebuyers. But that’s not the case.<br />
<br />The fact is there are a wide range of programs available in every community across the country—more than 2,400 programs. Ask your lender or agent about down payment program options that can be combined with your first loan. You can also find affordable home loans through your state or local Housing Finance Agencies (HFAs). Some of these programs feature lower minimum down payment requirements, competitive interest rates, down payment programs and homeownership counseling.<br />
<br /><b>Prioritize these two steps before you start touring homes. After you have your home loan details in order, you’ll know what homes and price points will best fit your situation.</b><br />
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Call 561-306-6736 or contact me at <a href="mailto:ges.rellc@ymail.com">ges.rellc@ymail.com</a> for more info on shopping for a home loan.<br />George Sinacorihttp://www.blogger.com/profile/09273142915343534273noreply@blogger.com0tag:blogger.com,1999:blog-1298123828653585546.post-11310201538000551552017-05-10T09:57:00.001-07:002017-05-11T11:35:10.204-07:00Preparing to Buy a Home<div class="separator" style="clear: both; text-align: center;">
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<b>Despite what we see in TV ads, there are things to do to prepare for buying a home. You can't just waltz in and declare "I'll take it!" </b><br />
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<i>Here's a checklist of some of the things you need to do to get ready to buy a home.</i><br />
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<b>Check your credit score</b><br />
Please do not start browsing homes until you have checked your credit score. This is what mortgage lenders will look at to determine whether you are “creditworthy." The higher your credit score, the lower your interest rate. Get a free copy of yours at Credit Karma, Annual Credit Report or some credit card companies provide free credit scores.<br />
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<b>Shop for a mortgage lender</b><br />
A prospective home buyer will need to qualify for a mortgage and confirm how much of a mortgage they can afford,” Different mortgage lenders offer a wide variety of rates and programs, so find the best rate and mortgage option for you.<br />
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<b>Secure mortgage pre-approval</b><br />
Once you've found the mortgage that's right for you, you'll want to show sellers that you have what it takes to buy their home. A pre-approval is required for a seller to take your offer seriously and to assure the seller that you’re both willing and able.<br />
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<b>Save up for a down payment</b> <br />
To get the best rates, you'll need to make at least a 20% down payment on a home. That's a lot of money! But if that amount is out of reach, don't worry—most people put down less.<br />
No Changes<br />
“Do not switch jobs. Do not buy a new car. Do not buy furniture or apply for a new credit card. <br />
Find a real estate agent<br />
There's no reason to go it alone. Professional help can make the whole process much easier.<br />
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<b>Make a realistic list</b><br />
You need to be realistic about what are truly “wishes" and what are "non-negotiables" —such as the number of bedrooms, a fenced yard for a pet, a specific school district, etc. <br />
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<b>Browse listings</b><br />
Search by price, number of bedrooms, location, and other variables to start narrowing down your options. Forward any properties that you find interesting to your Realtor so that they can look further into them and schedule showings for you. Viewing online listings is one thing; seeing the properties in person is quite another. While you’re in each home, take photos and make notes so they don’t all run together in your mind.<br />
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<b>The Neighborhood</b><br />
You’re not just buying the property you’re looking at; you’re also buying into the whole neighborhood. That’s why you have to be certain that it has the vibe you want. The best way to find out more about a community is to talk to neighbors, and to visit the neighborhood in the evening when families are home.<br />
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<b>Call, text or email </b><br />
<b>Call or text me directly at 561-306-6736</b><br />
<b>email me at <a href="mailto:ges.rellc@ymail.com">ges.rellc@ymail.com</a> or <a href="mailto:rebuygeorge@gmail.com">rebuygeorge@gmail.com </a></b>George Sinacorihttp://www.blogger.com/profile/09273142915343534273noreply@blogger.com0tag:blogger.com,1999:blog-1298123828653585546.post-77802369374666320732017-02-20T11:53:00.000-08:002017-02-20T11:53:21.670-08:00Home Buying in a Sellers Market<div class="separator" style="clear: both; text-align: center;">
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<u></u><b>Hearing the phrase “seller’s market” can concern many home buyers. While buying a home in a seller’s market isn’t easy, it can be done. You just have to know how to make an offer that will stand out.</b><br />
<br />There are ways to improve your chances. Let’s focus on the ways you can present an offer to help make it more appealing. And remember, in a hot market, other buyers are your competitors.<br />Besides coming in with the top price, the best thing you can do to rise to the top of the offers pile is to eliminate as many contingencies as you possibly can. Do you need to sell your current house before buying? In a buyers market or even a balanced market, you may be able to make your offer contingent on the sale of your existing home. Not so much in a hot market. Why should they wait for you to sell your house before they sell theirs when they’ve got other buyers ? <br />The sale of a current home is only one of many contingencies that may be incorporated into a typical home purchase contract. Contingencies are possible deal-killers and the seller knows it. Each one is designed to protect the buyer. So how much protection are you willing to give up to boost your chance of getting the house?<br />
<br /><b>You may be tempted to waive all contingencies</b>, like inspection, appraisal and financing. That’s risky and you would be well advised not to. Instead, try to minimize the effect of the contingencies.<br />Shorten the compliance times instead. Rather than having home inspection completed in 14 days, offer to do it within 5 days. A seller is looking to get to closing as quickly and easily as possible. A buyer who is willing to move quickly in the process will appeal to a seller.<br />You can also change the terms of your inspection contingency. Instead of a traditional inspection contingency where you can come back and request repairs from the seller, you can buy the house “as-is” but with a due-diligence inspection. That means you have a specified number of days to conduct a detailed inspection of the home.<br />
<br />If you find minor things that would normally be negotiated with the seller, you just accept them. But if you discover something major, you can simply cancel the sale. The seller knows you aren’t going to nickel-and-dime them for every little thing or delay the sale for minor repairs.<br />Financing contingencies are another big hurdle. You are (or should be) pre-approved before making an offer, but you still want to include that contingency in case something happens to keep you from getting a loan. That’s one reason cash is king. A buyer who doesn’t need a loan to buy a home will rise to the top of the offer pile.<br />
<br />Most buyers don't have a lot of cash sitting around and need to secure a loan to buy a house. Providing a pre-approval letter and putting as much toward a down payment as you reasonably can helps to make an offer strong. A larger down payment indicates that you are in a strong financial position and less likely to have financing issues come up.<br />
<br /><b>Appraisal contingency</b> is slightly different from the financing waiver. This one says if the house doesn’t appraise for the sales price, you can renegotiate. If you’re getting a mortgage, your lender will insist that the house appraise for the contract price. If it doesn’t, you can either renegotiate price, pay the difference up front or walk away. But if you’ve waived the appraisal contingency, you’ll walk away without your earnest money.<br />
real estate market.<br />
<br /><b>Earnest money is the deposit you make with an offer.</b> The point is to show that you’re serious and you’re willing to put some cash up to insure that you won’t back out of the deal for no reason without losing your earnest money. To a seller, a larger earnest money deposit signals that you are a serious buyer.<br />
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<b>Call or contact me for more valuable tips on buying or selling in today's real estate market.</b>George Sinacorihttp://www.blogger.com/profile/09273142915343534273noreply@blogger.com0tag:blogger.com,1999:blog-1298123828653585546.post-44433229530389543292017-02-07T08:32:00.002-08:002017-02-07T08:32:40.769-08:00Those Low Down Mortgages <div class="separator" style="clear: both; text-align: center;">
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Going back 10 -12 years ago or more, it was common to be able to buy a house with no money down. Zero percent financing was easily available. These types of home loans and "no documentation" mortgages were primary causes of the financial crises.<br />
<br />
Today although mortgage guidelines are stricter and full documentation is required, there are safe low down payment mortgage options available.<br />
<br />
<b>3% Down Payments</b> - Fannie Mae and Freddie Mac aren't lenders but the do buy loans that lenders make, allowing them to take more risk on creditworthy buyers who do not have a large amount of cash available. One program allows first time buyers or buyers who haven't owned a home for the past 3 years to put just <b>3% down on loans up to $417000</b>. The down payment can come from a family gift or your own. These loans require mortgage insurance as do most low down payment mortgages.<br />
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<b>3.5% Down Payment</b> - FHA (Federal Housing Administration) guarantees loans made by lenders allowing them to approve more low down payment buyers. The loans also require mortgage insurance but qualifications are less stringent than most.<br />
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<b>1% Down Payment</b> - New mortgages have emerged over the past year allowing as little as 1% down Buyers with 680 credit scores or higher and earning less than the median income for the area may qualify to receive a lender grant for 2% of the purchase price and 1% from the buyer giving a buyer a 3% equity at closing with just 1% down.<br />
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To determine your own qualifications for any of these low down payment programs, you'll need to get a pre-approval. Call me 561-306-6736 or email me and we can get those answers together and start the process of finding the perfect home and financing for you. <br />
<br />George Sinacorihttp://www.blogger.com/profile/09273142915343534273noreply@blogger.com0tag:blogger.com,1999:blog-1298123828653585546.post-30480510276221006122016-10-03T08:13:00.000-07:002016-10-03T08:13:26.506-07:00Your Credit Score Matters<div class="separator" style="clear: both; text-align: center;">
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<br />
If you're considering getting a mortgage to buy a home, your credit score matters. <br />If it’s good, you should be able to get financing without a problem. If it’s bad, it can be difficult getting a mortgage at all.<br />
<br />What’s an acceptable credit score for a mortgage?<br />
<br />Most lenders look for a score in the mid 600's although they do vary in their requirements.<br />Credit reports with detailed payment habits determine a persons credit score based on:<br />
<br />⦁ Payment history (on time): 35% <br />⦁ How much debt you have: 30% <br />⦁ How long you've had credit : 15% <br />⦁ New credit you’ve taken on: 10% <br />⦁ Types of credit you have: 10%<br />
<br />Credit scores range from 300 to 850.<br />⦁ 740 to 850: very good<br />⦁ 670 to 739: fair <br />⦁ 580 to 669: low <br />⦁ 300 to 579: sub prime<br />
<br />Lenders have varying required minimum credit scores for a mortgage, which are key in determining a persons credit worthiness. That's why it’s important to know your credit score before shopping for a home. <br />Once you know your credit score, you’ll have a good idea of whether you’ll be approved for a mortgage. However, while a minimum credit score means you’ll probably get approved for a loan, you won’t get the best rate. A higher score will result in a lower rate or better terms. It also gives you leverage to shop for the best available rate and terms.<br />
<br />Some government insured home loan programs are much more lenient when it comes to credit scores. The Federal Housing Administration or FHA accepts mortgage applications with scores as low as 580.<br />
<br />Active or former military members may also qualify for a VA loan which will allow for lower credit scores, so it’s worth checking out if you qualify.<br />
<br />For more information on qualifying for a loan to buy a home contact me directly at 561-306-6736 or <br /><a href="mailto:ges.rellc@ymail.com">ges.rellc@ymail.com</a>George Sinacorihttp://www.blogger.com/profile/09273142915343534273noreply@blogger.com0tag:blogger.com,1999:blog-1298123828653585546.post-62620604852812548182016-08-23T09:02:00.000-07:002016-08-23T09:02:24.516-07:00The 20% Down Payment Myth<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgn3QuSsozwsgJVvxojUraYQFQRCWaAYfbI1QdsuFv5YRzB1vQgwiZbOzr_iy_iek0FyJRRTGCTwbYy8MXSR-yVZqex6a83tpxDpJ919seTTd2xGIMiJatf16WyTmMVaiKQo8NMFQq713HR/s1600/young-couple-holding-house-key-boxes-on-background_573x300.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="104" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgn3QuSsozwsgJVvxojUraYQFQRCWaAYfbI1QdsuFv5YRzB1vQgwiZbOzr_iy_iek0FyJRRTGCTwbYy8MXSR-yVZqex6a83tpxDpJ919seTTd2xGIMiJatf16WyTmMVaiKQo8NMFQq713HR/s200/young-couple-holding-house-key-boxes-on-background_573x300.jpg" width="200" /></a></div>
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Many would be homebuyers have heard or read that it's best or even required to put a 20% down payment on a home in order to obtain financing. A down payment is just the amount of cash you are putting toward the purchase of the home. For a $200,000 home, 20% would be $40,000. For most, an improbable amount of cash.<br />
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After the housing crisis, access to credit tightened, especially for median income homebuyers, including credit worthy buyers with the income to buy but not the large down payment. <b>Thankfully that has changed and newer low down payments options are available</b> to those who qualify for a fully documented mortgage.<br />
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A recent study found that it would take most buyers on average 12.5 years to save enough for a 20% down payment on a home. That's more than 12 years of rent and watching home values continue to rise. However, there are now several options for buyers to take advantage of low down payment financing.<br />
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- <a href="http://www.fha.com/">FHA loans</a> are a popular option for first time home buyer.<br />
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- <a href="http://www.freddiemac.com/homepossible/">Freddie Mac's low down payment loan HomePossible</a> mortgage allows down payments of as little as 3-5% with flexible sources of funds for the down payment.<br />
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- <a href="http://www.knowyouroptions.com/homeready">Fannie Mae's new HomeReady</a> mortgage allows a 3% minimum down payment and allows everyone residing in the home's income to be considered even if they are not a borrower on the mortgage. <br />
Additionally all borrowers do not have to reside in the property, allowing co-borrowers such as parents who won't be living in the home to help the kids qualify.<br />
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Contact me directly 561-306-6736 <a href="mailto:ges.rellc@ymail.com">ges.rellc@ymail.com</a> for more help and information on available homes and low down payment options.George Sinacorihttp://www.blogger.com/profile/09273142915343534273noreply@blogger.com0tag:blogger.com,1999:blog-1298123828653585546.post-47382289493091746512016-05-08T08:53:00.000-07:002016-05-08T08:53:19.770-07:00Housing Forecast 2016 <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg-gZx5uaatx3eZj7je2iWmT1DHFmL2BmTwURUz99-0criIsNy4pZANWsqft8hNuipBD27QsSnWDDQ0QSpXD_mn1gL101dyeBMn5diluKCSE79P6F-PHayGbXl-JQIgMW4EUvDy9eSi5Hof/s1600/GES+George+Sinacori.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg-gZx5uaatx3eZj7je2iWmT1DHFmL2BmTwURUz99-0criIsNy4pZANWsqft8hNuipBD27QsSnWDDQ0QSpXD_mn1gL101dyeBMn5diluKCSE79P6F-PHayGbXl-JQIgMW4EUvDy9eSi5Hof/s1600/GES+George+Sinacori.jpg" /></a><br />
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Recent data released by Freddie Mac, the government sponsored entity (GSE), that insures most home loans, has many experts like Freddie Mac chief economists forecasting that housing will continue it's upward momentum throughout 2016 and in fact, can be an economic engine of growth for the overall economy.<br />
<br />
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg-gZx5uaatx3eZj7je2iWmT1DHFmL2BmTwURUz99-0criIsNy4pZANWsqft8hNuipBD27QsSnWDDQ0QSpXD_mn1gL101dyeBMn5diluKCSE79P6F-PHayGbXl-JQIgMW4EUvDy9eSi5Hof/s1600/GES+George+Sinacori.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"></a>In a statement regarding revised analysis of the overall economy after Freddie Mac published it's April 2016 data, one of their chief economists stated, <i>"we maintain our positive view on housing. In fact, the declines in long-term interest rates that accompanied much of the recent news should increase mortgage market activity,"</i><br />
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For the first quarter of 2016, the 30-year fixed rate mortgage averaged 3.7 percent. After lowering the forecast for subsequent quarters by a tenth of a percent, we should expect rates to average 4 percent in 2016.<br />
<br />
On average, house prices should rise by 4.8 and 3.5 percent in 2016 and 2017 respectively. Rising home prices will drive up homeowner equity.<br />
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For more info on the recent data visit <a href="http://www.freddiemac.com/">www.freddiemac.com</a><br />
<br />
For more information on purchasing or selling in Southeast Florida contact me directly at: <br />
<a href="mailto:rebuygeorge@gmail.com">George Sinacori</a><br />
GES Real Estate, LLC<br />
561-306-6736<br />
ges.rellc@ymail.comGeorge Sinacorihttp://www.blogger.com/profile/09273142915343534273noreply@blogger.com0tag:blogger.com,1999:blog-1298123828653585546.post-17324259735299583372016-02-29T08:49:00.001-08:002017-02-11T12:41:54.167-08:00Homeowners Tax Deductions Can Save You $<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhtUDp5uajIWCQa6-recQ-0w_NZfO5o2wmRz333O0261Ol43jP1HW_RuD9tKBSizRY2I3d_akmevwv1DlNBXA5fZcWnizbvCeoJ_qIe6ZrgtxVFDaTeAcpoTLzZ8fJ17yoCiq1W6PEHe-WD/s1600/GES+George+Sinacori.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhtUDp5uajIWCQa6-recQ-0w_NZfO5o2wmRz333O0261Ol43jP1HW_RuD9tKBSizRY2I3d_akmevwv1DlNBXA5fZcWnizbvCeoJ_qIe6ZrgtxVFDaTeAcpoTLzZ8fJ17yoCiq1W6PEHe-WD/s1600/GES+George+Sinacori.jpg" /></a></div>
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Owning a home comes with some great tax benefits. In fact there’s a whole list of homeowner-related tax breaks. Homeowners already save an average of $3,000 a year in taxes from mortgage-interest and property-tax deductions. In December of 2015, Congress passed the <a href="http://docs.house.gov/billsthisweek/20151214/121515.250_xml.pdf"><u><span style="color: blue;">Protecting Americans From Tax Hikes Act of 2015</span></u></a>, extending many exemptions that were about to expire and making others permanent. But to take advantage, you first have to know what they are.<br />
<b><span style="font-size: medium;"></span></b><span style="font-size: medium;"></span><br />
<span style="font-size: medium;"><b>Mortgage interest deduction: </b></span>If you’ve taken out a loan to buy a house, you can deduct the interest you pay on a mortgage, with a balance of up to $1 million by itemizing your deductions. <br />
<b><span style="font-size: medium;"></span></b><span style="font-size: medium;"></span><br />
<span style="font-size: medium;"><b>Private mortgage insurance: </b></span>Qualified homeowners can deduct payments for private mortgage insurance, or PMI, for a primary home. <br />
<b><span style="font-size: medium;"></span></b><span style="font-size: medium;"></span><br />
<span style="font-size: medium;"><b>Property Taxes: </b></span>You can include state and local <a href="http://www.realtor.com/advice/finance/lower-property-taxes-now-heres-file-winning-appeal/"><u><span style="color: blue;">property taxes</span></u></a> as itemized deductions. The amount of the deduction depends on when you pay the tax, paying property taxes earlier could have a positive impact on your return.<br />
<b><span style="font-size: medium;"></span></b><span style="font-size: medium;"></span><br />
<span style="font-size: medium;"><b>Capital gains on a home sale: </b></span>Capital gains can be avoided when the gain from selling your personal residence is less than $250,000 if you are a single or $500,000 if you are a joint filer. You must have owned and used the home as a primary residence for at least two of the five years prior to the sale.<br />
<b><span style="font-size: medium;"></span></b><span style="font-size: medium;"></span><br />
<span style="font-size: medium;"><b>Discount points: </b></span>which are paid to lower the interest rate on a loan, can be deducted in full for the year in which they were paid. If you’re buying a home and the seller pays the points as an incentive, you can still deduct those points.<br />
<b><span style="font-size: medium;"></span></b><span style="font-size: medium;"></span><br />
<span style="font-size: medium;"><b>Energy-efficiency tax credit: </b></span>You can take advantage of the <a href="http://www.realtor.com/advice/finance/buy-a-home-now-and-reap-the-benefits-of-low-rates-tax-breaks-while-you-still-can/"><u><span style="color: blue;">energy-efficiency tax credit</span></u></a> of 10% of the amount paid (up to $500) for any green improvements, such as storm doors, energy-efficient windows, and air-conditioning and heating systems.<br />
<b><span style="font-size: medium;"></span></b><span style="font-size: medium;"></span><br />
<span style="font-size: medium;"><b>Home office: </b></span>If you have a dedicated space in your home for work and it’s not used for anything else, you could deduct it as a <a href="http://www.realtor.com/advice/finance/tax-deduction-options-to-know-about-if-you-work-from-home/"><u><span style="color: blue;">home office expense.</span></u></a> (I'm not fond of this deduction for several reasons, although it is available).<br />
<b><span style="font-size: medium;"></span></b><span style="font-size: medium;"></span><br />
<span style="font-size: medium;"><b>Loan forgiveness deduction: </b></span>If you’re the owner of a foreclosed or short-sale home, you can take advantage of mortgage-debt forgiveness so long as the debt was on your primary residence. For example you sell your home as a short sale for $200K but owe $300K and your lender forgives the $100K balance (which is otherwise considered ordinary income), you don't have to pay taxes on that forgiven debt.<br />
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For more tax tips, check out IRS <a href="https://www.irs.gov/publications/p530/"><u><span style="color: blue;">Publication 530</span></u></a> for a list of what homeowners can (and cannot) deduct.<br />
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Considering buying or selling a home? <br />
Call me at 561-306-6736 or email <a href="mailto:ges.rellc@ymail.com">ges.rellc@ymail.com</a>George Sinacorihttp://www.blogger.com/profile/09273142915343534273noreply@blogger.com0tag:blogger.com,1999:blog-1298123828653585546.post-138382101094476202016-01-20T07:50:00.000-08:002016-01-20T08:13:45.978-08:00Your Credit Score<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgMrqMudf9oWaU5hDJnfht7ArLIS2jfLQTA5SRgccK666YeJYRPQ7QHhv7vlfdQ0tL0ypBZSCLA9B1h2G09ALO0WE5PcwjdpuKBLCrrkKdsS3oTj9YdGur7VqJEOeJ77DW4MiZipoEGmQDX/s1600/GES+George+Sinacori.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgMrqMudf9oWaU5hDJnfht7ArLIS2jfLQTA5SRgccK666YeJYRPQ7QHhv7vlfdQ0tL0ypBZSCLA9B1h2G09ALO0WE5PcwjdpuKBLCrrkKdsS3oTj9YdGur7VqJEOeJ77DW4MiZipoEGmQDX/s1600/GES+George+Sinacori.jpg" /></a></div>
<strong>Have you checked your credit score lately?</strong> Keeping tabs on your credit and understanding some fairly simple ways to improve it are important, and things that we can do ourselves without actually making a loan application. By using on line sites like <a href="http://creditkarma.com/">CreditKarma.com</a> (free), or paying a credit reporting agency like Equifax or TransUnion we can monitor our credit rating while we utilize ways to continually improve the credit score.<br />
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Most lenders, (probably 90% of them), will rely on a FICO score, which is a combination of scores from the major credit reporting agencies. There are 2 major factors that can affect your FICO score either negatively or positively.<br />
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<strong>The percentage of available credit and your on time payment history are the most important factors affecting your credit score.</strong> If you have a credit card with a credit line of $10,000 (revolving credit), your ranked according to the percentage of that available credit that you're actually using. To put this in context, if you have a $10,000 credit line and you're using $5,001 of it you'll have a "poor" rating. And if you have a balance of $3,000 your rating is only "fair". Using less than 10% of available credit is considered "excellent". <br />
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The type of credit matters also. <strong>An excellent payment history at a retail outlet like Sears or Macy's is not nearly as important as it is with Master Card, Visa or American Express.</strong> Also be aware that as you pay down your credit cards it's not uncommon for some companies to reduce your credit line. The result is that even though you pay down your balance, your credit utilization percentage fails to improve. In that case it may be smarter to pay down those accounts that leave your credit line in place rather than those that don't. It may also be wise to keep an account with zero, or close to zero balance open. Husbands and wives with joint accounts can benefit by paying those accounts down as both will see improvements in their individual credit scores.<br />
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Questions or comments are always welcome 561-306-6736 <a href="mailto:ges.rellc@ymail.com">ges.rellc@ymail.com</a><br />
twitter @georgesinacori<br />
George Sinacorihttp://www.blogger.com/profile/09273142915343534273noreply@blogger.com0tag:blogger.com,1999:blog-1298123828653585546.post-85061335557781216872016-01-09T08:08:00.001-08:002016-01-09T08:08:26.868-08:002016 - A Great Year to Buy a Home<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj201AHThayqBACr3BiQ2N6kIL4SEnOUwLzwORzmhab4qkooGvq-sDTfJ7TlO5kmmvejgw9WHO6KdZ0DUwNTh-RliSMCb0WGiS1mkJjn9llDuLGNOCilICFFXGS8A0FsVxSgeAnxb7eHdbB/s1600/GES+Real+Estate+LLC.bmp" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj201AHThayqBACr3BiQ2N6kIL4SEnOUwLzwORzmhab4qkooGvq-sDTfJ7TlO5kmmvejgw9WHO6KdZ0DUwNTh-RliSMCb0WGiS1mkJjn9llDuLGNOCilICFFXGS8A0FsVxSgeAnxb7eHdbB/s200/GES+Real+Estate+LLC.bmp" width="200" /></a><br />
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<br />
<strong>Thinking about possibly buying a home this year?</strong> Well here are some reasons why 2016 may be the best time to purchase a home we've seen or may see again in quite awhile. <br />
<br />
<strong>- Home prices are stabilizing</strong>. Values vary in different markets but generally we are seeing less appreciation in most segments including single family homes. This cooling off period presents great bargaining opportunities for prospective homebuyers to capitalize on.<br />
<br />
- <strong>Interest rates are at record lows,</strong> around 4% for a 30 year fixed rate mortgage. Although they can begin to gradually climb at anytime they are extremely attractive now allowing more bang for your buck (more home for your monthly payment).<br />
<br />
- <strong>Rents continue to climb.</strong> In 2015 rent increases outpaced home values considerably in most major markets and are forecast to increase by 8% on average for this year. It is costing many folks more in monthly rent than it would to have a mortgage and begin building equity into that housing cost.<br />
<br />
- <strong>Down payments are affordable.</strong> Many programs like FHA, FannieMae and FreddieMac Home Advantage programs allow for only 3% down payments with credit scores as low as 620. Other Down Payment Assistance programs may also be available in some market areas. Closing costs may be negotiated with the seller contributing a good portion of that cost in order to finalize the purchase agreement.<br />
<br />
- <strong>Tax benefits for home owners are still great.</strong> Homeowners can still deduct all of the monthly interest payments on a primary residence as long as that loan is under a million dollars. Property taxes and some home related expenses may also be deductible.<br />
<br />
<strong>This may be the best time to buy a home.</strong><br />
<strong>Is 2016 the year that you become a proud homeowner? </strong><br />
<strong></strong><br />
<br />
Questions, comments, etc. are welcome. Call or email 561-306-6736 <a href="mailto:ges.rellc@ymail.com">ges.rellc@ymail.com</a><br />
<br />
<strong></strong>George Sinacorihttp://www.blogger.com/profile/09273142915343534273noreply@blogger.com0tag:blogger.com,1999:blog-1298123828653585546.post-68580665432256075622015-12-02T11:09:00.003-08:002015-12-02T11:09:59.705-08:00Market Trends in Palm Beach County<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
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<tr><td class="tr-caption" style="text-align: center;"><span style="color: red; font-size: large;"><strong>Less Homes for Sale</strong></span></td></tr>
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<tr><td class="tr-caption" style="text-align: center;"><span style="color: red; font-size: large;"><strong>More Homes Sold</strong></span> </td></tr>
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<tr><td class="tr-caption" style="text-align: center;"><span style="color: red; font-size: large;"><strong>Prices Trending Upward</strong></span></td></tr>
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George Sinacorihttp://www.blogger.com/profile/09273142915343534273noreply@blogger.com0tag:blogger.com,1999:blog-1298123828653585546.post-8546457410993142152015-05-20T14:25:00.001-07:002015-05-20T14:25:46.340-07:00Understanding Mortgages Part 2<div class="separator" style="clear: both; text-align: center;">
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One of the most important steps in buying a home is getting financing. Before you even start searching for your dream home, you should talk to a lender and determine what you can afford and learn about what types of loans are available. You’ll also need to understand some mortgage basics.<br />
<br />
A mortgage is a loan that is secured by real estate (i.e., the home you purchase). Unless you are paying cash for the home, you'll need a mortgage. You promise to pay the lender back (usually in monthly payments) in exchange for the money used to purchase the home. If you stop paying, you'll go into default, and the lender can take back the property (foreclosure).<br />
<br />
Mortgage financing doesn’t have to be confusing. There are a few key things to understand, and the more you know, the more prepared you’ll be.<br />
<br />
Your mortgage payment typically includes PITI:<br />
<dir>
<dir>
<b></b><b>P</b>rincipal <span style="font-family: Times New Roman;">–</span> The amount you borrowed ; <br />
<b></b><b>I</b>nterest <span style="font-family: Times New Roman;">–</span> The rate or percentage the lender charges you to borrow the money; <br />
<b></b><b>T</b>axes <span style="font-family: Times New Roman;">–</span> What you pay in annual property taxes to your local city/municipality or county; and <br />
<b></b><b>I</b>nsurance <span style="font-family: Times New Roman;">–</span> What you pay to insure your home from damages (fire, natural disasters, etc.). There is also Private Mortgage Insurance (PMI) which is usually required on most loans when your down payment is less than 20%.</dir>
</dir>
<br />
Be sure to ask if your mortgage contains a pre-payment penalty. A pre-payment penalty means you can be charged a fee if you pay off your mortgage early (i.e., pay off the loan before a pre-determined date).<br />
<br />
Most homebuyers only think about the interest rate, but a lender will use the APR (Annual Percentage Rate) when reviewing and quoting your financing. The interest rate is what the lender charges you to borrow money. The APR includes the interest rate as well as other fees, (closing costs, application fee, origination, etc.) and shows your total annual cost of borrowing. As a result, the APR is higher than the simple interest of the mortgage. That’s why it’s always important when comparing lenders to look at the APRs quoted and not just the interest rate. <br />
<br />
<strong>Please feel free to call or contact me if you or someone you know needs help obtaining a mortgage loan.</strong>George Sinacorihttp://www.blogger.com/profile/09273142915343534273noreply@blogger.com0tag:blogger.com,1999:blog-1298123828653585546.post-88247644621767439892015-05-12T10:58:00.001-07:002015-05-12T10:58:41.947-07:00Understanding Mortgages<div class="separator" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em; text-align: center;">
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgi1Lwcbj_n7DLX0Zafj9Jk7iQuDQH9WgTotnP4BwG-twFzWzyUaMIY5MQ2NXyNrFwN4k0WBf2WTvP3MnBs0LuW3vSd0fU8t_H9I2SHttShTWQ_Z3qo6ORUImb_T85yEjAFAQ6ENprp6BRP/s1600/Personalphoto.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgi1Lwcbj_n7DLX0Zafj9Jk7iQuDQH9WgTotnP4BwG-twFzWzyUaMIY5MQ2NXyNrFwN4k0WBf2WTvP3MnBs0LuW3vSd0fU8t_H9I2SHttShTWQ_Z3qo6ORUImb_T85yEjAFAQ6ENprp6BRP/s200/Personalphoto.jpg" width="182" /></a><strong>Understanding mortgages before buying or selling a home may be the most important step in the process. Mortgages can be confusing, but a little homework can help you make sound financial decisions.</strong></div>
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A mortgage is a lien that a lender puts on your real estate, your house and land in order to secure the loan they are giving. he lender doesn't own the property, you do, but if the loan is not paid back according to the terms they can foreclose. <br />
<br />
Knowing how much you can afford and how much you can borrow are two very different things. A lender may be willing to lend you more than you believe your lifestyle can afford. They aren't concerned with how a loan may affect the way you live. They are concerned with your ability to repay the loan and the value of the property that your buying. You're the only one who can determine how a certain payment may or may not affect your lifestyle. <br />
<br />
Lenders will look at your income and potential income, your debt, savings and credit history. The value of the house and property and the interest rate they require before deciding on an loan amount. Ideally, it will be enough to cover the gap between your down payment and the price of the home you want.<br />
<br />
There are lots of different types of mortgages to consider. If you intend to remain in the home for the next 5-10 years or more a fixed rate should best serve you where the payments remain the same regardless of market conditions. On the other hand if you plan on trading up or relocating in the foreseeable future you could benefit from some type of an ARM (adjustable rate) or hybrid ARM with a lower initial interest rate. <br />
<br />
A lender may also allow you to pay points in order to buy down or lower the rate that your getting on your loan. If you don't plan on staying in the property longer than a few years you probably would not recoup that cost. Generally you don't want to pay more than 1 point which means your cost is 1% of the loan amount for whatever consideration the lender is offering. i.e. lower rate, bad credit, complex transaction. <br />
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If you have questions on what types of mortgages are currently available or just understanding the process please feel free to contact me. George Sinacorihttp://www.blogger.com/profile/09273142915343534273noreply@blogger.com0tag:blogger.com,1999:blog-1298123828653585546.post-72642561268828303522015-04-29T08:39:00.001-07:002015-04-29T08:39:38.010-07:00Deciding Where to Buy a Home<br />
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg2FYXdj2w9rtZ-CjRXUTdmDe8xUTYAeo7WxeMYDSkLvE4RH7rWQ1f-l_lx5ROQrRSF7zhiKkZF-GTVlsvQMwVm01LX0eVML0xxRIORmv3XMbevuvzP3ngD5wWkd6MT7ieVH6XxFPbIrbqI/s1600/Personalphoto.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg2FYXdj2w9rtZ-CjRXUTdmDe8xUTYAeo7WxeMYDSkLvE4RH7rWQ1f-l_lx5ROQrRSF7zhiKkZF-GTVlsvQMwVm01LX0eVML0xxRIORmv3XMbevuvzP3ngD5wWkd6MT7ieVH6XxFPbIrbqI/s1600/Personalphoto.jpg" height="200" width="182" /></a>When we decide to look for the home that fits us, we should always<br />
s get the facts on areas that we're looking in. After all, it's not just a house, we're also buying a community and lifestyle. Things happening in the community directly affect the value of your home should you ever want to sell it.<br />
<br />
In addition to the impact that a neighborhood can have on home values, emotionally it should be a good choice for where you feel comfortable.<br />
<br />
Always consider your lifestyle and interests. Where do you work, how do you get there and how long or short is the commute? Some expert opinions argue that you're more likely to be happier if you're in a smaller home with a shorter commute than a larger home with a longer commute.<br />
<br />
What do you enjoy in your free time? Do you like the beach, fishing, dog walking, shopping, or nightlife and cafes? Are the services, amenities and schools favorable, reputable and convenient? Prioritizing can quickly shrink things to just a few neighborhoods and help to concentrate your home search.<br />
<br />
When you've narrowed things down, it's time to see how the areas you've chosen stack up. Walk around, ask the people you meet about local parks, schools, traffic. Get online and research the ares you're interested in. Call or contact me for home values, for list and sale prices. The number of foreclosures in an area can indicate stability and much more.<br />
<br />
In the end we all make some compromises, but we're always happier when we've been diligent.George Sinacorihttp://www.blogger.com/profile/09273142915343534273noreply@blogger.com0tag:blogger.com,1999:blog-1298123828653585546.post-84380451585014258482015-04-19T08:08:00.001-07:002015-04-19T08:08:20.768-07:00Rent a Home or Buy a Home? What's Right for You?<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgnguKE4M_rvgWdNjGexuTkBFPb5sPziKNTs-LtgWhTxgNr71YFX1e_kFuvYghHCPx8LPvQDDZiPpKqKVec-n8KQfULqTipaQ2yFVh7f6Yhj4cXzt_Ub6kXdsGKiTrxjU6kQRL3kTFsiSFs/s1600/Personalphoto.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgnguKE4M_rvgWdNjGexuTkBFPb5sPziKNTs-LtgWhTxgNr71YFX1e_kFuvYghHCPx8LPvQDDZiPpKqKVec-n8KQfULqTipaQ2yFVh7f6Yhj4cXzt_Ub6kXdsGKiTrxjU6kQRL3kTFsiSFs/s1600/Personalphoto.jpg" height="200" width="183" /></a></div>
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<br />
Maybe you already know what’s right for you, or maybe you’re trying to figure out the best option<span style="font-family: Times New Roman;">—</span>either way, the better informed you are, the better prepared you’ll be.<br />
<br />
<span style="font-size: medium;"><strong>Renting may be an option if you:</strong><br />
<span style="font-size: small;">- Plan to move around a lot and don't want to be tied to one location.</span><br />
<span style="font-size: small;">- Don't have the funds for a down payment & closing costs.</span><br />
<span style="font-size: small;">- Can't afford the ongoing maintenance of a home.</span><br />
<span style="font-size: small;">- Are saving for the future.</span><br />
<span style="font-size: small;"></span><br />
<br /></span><br />
<span style="font-size: medium;"><strong>Buying may be an option if you:</strong><br />
<span style="font-size: small;">- Plan on staying in one place for a number of years.</span><br />
<span style="font-size: small;">- Want to build long term equity into real estate.</span><br />
<span style="font-size: small;">- Have available funds for a down payment/closing costs.</span><br />
<span style="font-size: small;">- Want or need the potential tax advantages of owning a home.</span><br />
<span style="font-size: small;">- Can afford ongoing costs of maintaining a home (maintenance & repairs).</span><br />
<span style="font-size: small;"></span><br />
<span style="font-size: small;"><strong>Initial Costs Renting vs. Buying:</strong></span><br />
<span style="font-size: small;">- Rental Application Fee</span><br />
<span style="font-size: small;">- Security Deposit</span><br />
<span style="font-size: small;">- Broker Fee (some markets)</span><br />
<span style="font-size: small;">- Advance rents (1st month/last month)</span><br />
<span style="font-size: small;">- Moving expense</span><br />
<br />
<span style="font-size: small;"></span> </span><strong>Buying:</strong><br />
- Mortgage application fees<br />
- Earnest money deposit (credited to down payment)<br />
- Down payment<br />
- Closing fees<br />
- Moving expense<br />
<br />
<strong>Ongoing Costs Renting vs. Buying:</strong><br />
- Rent<br />
- Renters insurance<br />
- Utilities<br />
<br />
<strong>Buying:</strong><br />
- Mortgage, real estate taxes, homeowners insurance<br />
- Utilities<br />
- HOA / Condo fees ( if applicable)<br />
- Private mortgage insurance (if applicable)<br />
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<strong><em>For more info on what may be best for you contact me directly by phone or email.</em></strong><br />
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George Sinacorihttp://www.blogger.com/profile/09273142915343534273noreply@blogger.com0tag:blogger.com,1999:blog-1298123828653585546.post-43894360922285629952015-03-04T13:22:00.001-08:002015-03-04T13:22:42.487-08:00Before Buying a Home Get Organized<span lang=""><div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiyACeOvVWKLO2uO7zUQHr26QYjBwcc97EPU1g4aBQCSMDMcUKq-4e5AcsEDJpaoTxRgdYWY5HpnW1f73CxVyLN6nXnIrhoWGOoYkXa4Y_LeoZR2uhdfcYTIuW71DKSLouFvK2e-riZ8zZe/s1600/Personalphoto.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiyACeOvVWKLO2uO7zUQHr26QYjBwcc97EPU1g4aBQCSMDMcUKq-4e5AcsEDJpaoTxRgdYWY5HpnW1f73CxVyLN6nXnIrhoWGOoYkXa4Y_LeoZR2uhdfcYTIuW71DKSLouFvK2e-riZ8zZe/s1600/Personalphoto.jpg" height="200" width="182" /></a></div>
<strong>Considering buying a new home soon? </strong><br />
<strong>
</strong><br />
<strong>With tax season in full swing, now is the perfect time to get organized.</strong> Buying a home is one of the largest investments you will make, so it's important to be well prepared before taking that leap.<br />
<br />
<strong>1. Get your credit in order.</strong><br />
<br />
Your credit is a large factor in determining whether or not you qualify for a mortgage, so it's important that you determine your credit score before shopping for a mortgage. The higher the score, the easier it will be to qualify.<br />
</span><span style="font-size: small;">I like using <a href="http://www.creditkarma.com/">Credit Karma</a> ,</span><span style="font-size: small;"><span lang=""> although you can also get your free reports from:</span></span><span style="font-size: small;"><span lang=""> </span></span><br />
<span style="font-size: small;"><span lang=""></span></span><br />
<span style="font-size: small;"><span lang=""><a href="http://annualcreditreport.com/">Annual Credit Report</a></span></span><span style="font-size: small;"><span lang="">, or pay for them from the credit bureaus:</span></span><br />
<span style="font-size: small;">
</span><br />
<span style="font-size: small;"><a href="http://www.equifax.com/">Equifax</a> </span><span style="font-size: small;"><span lang=""><a href="http://www.equifax.com/">http://www.equifax.com</a></span></span><br />
<span style="font-size: small;"><span lang=""></span></span><br />
<span style="font-size: small;"><a href="http://experian.com/">Experian</a> </span><a href="http://www.experian.com/"><span style="font-size: small;"><span lang="">http://www.experian.com</span></span></a><br />
<span style="font-size: small;"><span lang=""></span></span><br />
<span style="font-size: small;"><a href="http://transunion.com/">Trans Union</a> </span><a href="http://www.transunion.com/"><span style="font-size: small;"><span lang="">http://www.transunion.com</span></span></a><span style="font-size: small;"><span lang=""> </span></span><br />
<br />
<span style="font-size: small;">
<br />
<strong>2. Prepare for expenses before you buy.</strong><br />
<br />
Plan for what you will need to spend before the actual purchase. You'll need enough cash for a down payment, closing costs, and a few months worth of mortgage payments plus enough cash to fund any lender required escrow account. Figure out what extras you may need, like moving costs, furniture, and repairs.<br />
<br />
<strong>3. Know what you can afford.</strong><br />
<br />
Before you jump into a contract, you need to make sure it's something you can actually afford. List your monthly expenses, then subtract that total from your monthly net income. Here's a guideline to keep in mind: your housing costs should be no more than 30% of your net pay. <br />
<br />
<strong>4. Have credit lines.</strong><br />
<br />
Most lenders prefer that you have three of more credit lines that have been open for at least a year? These can range from credit cards and students loans to a car loan. You should also avoid closing them because it may impact your credit score.<br />
<br />
<strong>5. Do your research.</strong><br />
<br />
Above all, it's crucial that you do your research before buying your new home. In addition to the price of the home, you must always consider other factors such as property taxes, homeowners insurance, utilities, maintenance, and repairs.<br />
<br />
<strong>6. Consult a real estate professional. </strong><br />
<br />
Call or <a href="mailto:rebuygeorge@gmail.com">contact me directly</a>. I can walk you through all the steps for preparing to buy a home. Whether it's your first home or your forever home.</span><br />George Sinacorihttp://www.blogger.com/profile/09273142915343534273noreply@blogger.com0tag:blogger.com,1999:blog-1298123828653585546.post-48291961577398042942015-02-07T07:40:00.000-08:002015-02-07T07:48:38.428-08:00Homebuyers Down Payment Assistance<h2>
Down Payment Assistance for Homebuyers</h2>
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<strong>
</strong>
<br />
Nearly 9 out of 10 U.S. homes could qualify for down payment assistance programs when homebuyers also fall within maximum income limits, according to a study <br />
<br />
Income limits vary by market, but <a href="http://downpaymentresource.com/">Down Payment Resource</a> said 91 percent of the programs it tracks have funds available to help eligible buyers, providing $11,565 in assistance on average.<br />
<br />
According to the analysis, at least one down payment assistance program is available in every U.S. county, and more than 2,000 counties have more than 10 down payment programs within reach of prospective buyers.<br />
<br />
More than half of down payment programs (54 percent) take the form of low- or zero-interest second mortgages issued either by an HFA (housing finance agency) or nonprofit organization. Payments on second mortgages may be deferred or forgiven incrementally for each year the buyer remains in a home. These programs, where available, could reduce a buyers requirement for cash to lose tremendously.<br />
<br />
Other major types of down payment assistance include first mortgage loans with below-market interest rates or 100 percent financing; mortgage credit certificates (MCCs) that provide up to $2,000 in annual tax credits for the life of a loan; and Neighborhood Stabilization Program (NSP) loans and grants earmarked for communities hard hit by the housing bust.<br />
<br />
Many would-be homebuyers mistakenly believe that they don’t have the dough to buy their dream home because they’re unaware of down payment assistance programs. That’s particularly true for middle-income U.S. adults, 70 percent of whom are clueless about local down payment assistance that might be available to them. <span style="font-family: Calibri; font-size: small;"><span style="font-family: Calibri; font-size: small;"><span lang="">In fact there are more than 2000 such programs available nationwide<em><strong> including several here in South Florida</strong>.</em></span></span></span>George Sinacorihttp://www.blogger.com/profile/09273142915343534273noreply@blogger.com0tag:blogger.com,1999:blog-1298123828653585546.post-62788821435833150862015-01-08T08:15:00.002-08:002015-01-08T08:15:47.809-08:00FHA Lowers Mortgage Insurance <b><span style="font-size: x-large;"><div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgrNYELnSMPGQ_hpumDXzbjXgEV0ztgm0akiGxzxET5ujhtG5ya_iKgUWySolZFO_t2ScDasrgI1Fgq8DPD12XTk61eou5GOb4OUdCbgowLJ_iQOb71QZ60t_dLUgpcbuJpsZG9XxSkzIIK/s1600/Personalphoto.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgrNYELnSMPGQ_hpumDXzbjXgEV0ztgm0akiGxzxET5ujhtG5ya_iKgUWySolZFO_t2ScDasrgI1Fgq8DPD12XTk61eou5GOb4OUdCbgowLJ_iQOb71QZ60t_dLUgpcbuJpsZG9XxSkzIIK/s1600/Personalphoto.jpg" height="200" width="182" /></a></div>
FHA mortgage insurance premiums lowered.<br />
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Mortgage Insurance premiums or (MIP) is typically added onto a buyers monthly mortgage payment when the down payment on a property is less than 20%. The premium is paid one time up front when a borrower closes on the loan and in monthly installments after. It may be removed at some point after the value of the property increases by enough to show that there is at least 20% equity in it. <br />
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After raising them six times, the Obama administration is reversing course and rolling back mortgage insurance premiums charged by the Federal Housing Administration by enough to save homeowners an average of $900 a year.<br />
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In a move expected to bring 250,000 first-time homebuyers into the market, FHA will reduce annual premiums by 0.5 percent, to 0.85 percent. That can make homeownership more affordable for more than 2 million homeowners in the next three years, Secretary of Housing Julian Castro said.<br />
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FHA’s upfront premiums of 1.75 percent will not change. So a first-time homebuyer taking out a $150,000 mortgage will pay $2,625 upfront and $1275 a year in premiums for access to FHA mortgage programs that let them purchase a home with just 3% down. <em>(Today, the same homeowner pays $2,430 a year in annual premiums).</em><br />
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Last month, Fannie and Freddie’s federal regulator said the mortgage giants are looking forward to any increase in guarantees of new mortgages with low down payments.<br />
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George Sinacorihttp://www.blogger.com/profile/09273142915343534273noreply@blogger.com0