Alice Busch helps Redskins linebacker furnish two residences, one in Auburn, AL

Posted February 5, 2010 by scottelangley
Categories: Auburn, Football

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Alice Busch helps this Redskins linebacker furnish two residences, with an eye toward building a lakefront dream home in his native Alabama

Posted on Friday, 5 February 2010 at 08:44 in Home Design by Roger

 

Marcus Washington likes to shoot pool with friends in his
Leesburg home.
 

Great Falls Distinctive Interiors’ Alice Busch conducts extensive interviews with clients each time she begins a new project. While the exercise is always beneficial, it yielded unusually lofty results when she sat down with Washington Redskins linebacker Marcus Washington, who had enlisted Busch to decorate both his Leesburg townhouse and a residence in his beloved hometown of Auburn, Alabama, where he played football for Auburn University.

“We asked a ton of questions and took meticulous notes,” Busch says of her initial meeting with Washington. “Toward the end of our conversation, I asked where he saw himself 10 to 15 years from now.” It was the answer to this final question that became the guiding principle for both design projects.

Unlike many rising stars, Washington had a very specific answer. He hopes to be ensconced in a custom home on Lake Martin, about 30 miles outside of Auburn. I definitely have a place in mind,” Washington says. “The water is very relaxing for me, and I prefer a lake to the ocean. When I told Alice my plans, we put our heads together and tried to come up with some furniture we could have in these two houses that we could pull together and would look nice if I decide to combine them later.”

Their meeting of the minds spawned a pair of residences that, while situated some 650 miles apart, undisputably share the same soul. Both are rooted in rich earth tones and sophisticated, accommodating furnishings. The aura in both homes is warm and relaxing, masculine with just a dollop of pizzazz. While the Alabama house is a more obvious paean to Auburn University’s mascot, the tiger (including a sumptuous custom patterned rug in the family room), the Leesburg house boasts a wall in the study that pays tribute to Washington’s sports idols. Present company includes athletes Michael Jordan, Walter Payton, Lance Armstrong, Muhammad Ali and Tiger Woods.

The two homes even share a few identical pieces, like the barstools in the room where Washington shoots pool with “his boys” in Leesburg that eventually will be combined with their counterparts in Auburn to form a complete set. “We’ve done a measure and library of every piece of furniture and fabric in both houses so we know exactly what he has,” Busch says.

“He’s not a flamboyant person, and he’s very conservative financially and is clever enough to know this won’t last forever,” she adds, referring to the life cycle of a professional athlete. “I usually don’t do ‘temporary,’ but we made smart decisions on pieces that will last.”

Perhaps because he knows the stadium lights don’t shine on any player forever, 29-year-old Washington is clearly soaking up life as one of the Redskins’ go-to defensive players, now embarking on his third season with the team. “I really love DC,” he says. “I wouldn’t want to play football anywhere else. The fans are great. The coaches are great. And to get the chance to play for Coach [Joe] Gibbs and be a part of all the history of this team is really special.”

But the life of a professional football player can wear and tear on a guy, even one who stands at a sturdy six feet, three inches. Washington’s Leesburg residence clearly reflects his need for “a little chill” after putting in grueling hours to stay on top of his game. “My Auburn home has a little more pop to it,” he says. “Here in DC, it’s a little more laid back. That’s important to me because at the end of the season when you’re out of the hustle and bustle, you want to be able to be home and be just a normal guy.”

Nowhere are the comforts of home more evident than in the family room, presided over by an oversized chocolate sofa. It was this space, in fact, that initially led him to Alice Busch, who had decorated a home for his teammate, Shawn Springs. In the three years since Washington bought his townhome, he had room that would have beautiful furniture that you couldn’t sit on,” he says. “I have never understood that.”

Neither, as it turns out, has Busch, who is known as much for her attention to quality as she is for her bent for eye-catching fabrics. “Good fabric on good framework is key—especially with a guy that size,” she says. “I raised four sons on one couch, and three of the four fought over who would get it when they were grown.”

Her philosophy dovetailed beautifully with Washington’s current and long-term plans, and guided décor decisions in the former dining room, which they converted into a study/entertainment room with oversized leather club chairs, a pool table, the aforementioned bar stools and loads of memorabilia. Comfort and quality also take center stage in the downstairs home theater, a cavernous room distinguished by luxurious seating, ambient lighting and a meticulously arranged poster wall. 

Although Washington stepped aside for some of the furniture purchases, he was right in the mix when it came to arranging photos, jerseys and other objects dear to his heart. “He’ll tell you he doesn’t have strong opinions about decorating, but we redid the pool room wall three times and the poster wall in the movie theater twice,” Busch says warmly.

Now that his two residences are complete, Washington is thinking of a new enterprise—renting out his Auburn home during the many months he is in DC. “So many people come into town to see games and I think with the tiger theme it would be fun for the right kind of person,” he says.

Does he have the real estate bug? “I do have a little interest in real estate; it’s kind of the ‘in’ thing to do right now,” Washington says, then pauses. “But right now I’m staying focused on football and the Redskins,” he says with a chuckle. “This little football thing I do.”

Washington’s residence in his hometown of Auburn, Alabama, pays homage to his alma mater’s football team, the Tigers, as reflected in the custom-designed rug in the living room.  The media room in Washington’s Auburn residence boasts a plush carpet by Stark and Ligne Roset’s classic Togo seating—in tiger orange, of course.
The family room in the Leesburg home was designed for relaxation.
 
The current dining room in Leesburg is an elegant spot for intimate dinners.
 
The former dining room in the Leesburg home was converted into a
study/entertainment room with oversized leather club chairs and loads of football memorabilia.
 
Washington’s residence in his hometown in Auburn, Alabama,
pays homage to his alma mater’s football team, the Tigers, as
reflected in the custom-designed rug in the living room.
 
The media room in Washington’s Auburn residence boasts
a plush carpet by Stark and Ligne Roset’s classic Togo
seating in tiger orange.
 
A custom-designed desk and leather chair outfit Washington’s
home office in Auburn. Photos and mementoes from his college
football days mingle with Redskins photos and memorabilia.
 

New custom bedding by Exclusive Draperies and Upholstery
Inc. dresses up one of the guest bedrooms in the Auburn home.

Exclusive Draperies and Upholstery Inc. did the drapery and
cornice in the master bedroom in master bedroom.

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Steps to Choosing the Best Real Estate Agent for Your Property Transaction

Posted February 2, 2010 by scottelangley
Categories: Choosing a Realtor, Real Estate

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With so much at stake, buying or selling a property can be very confusing. There are many different areas to take into consideration that mist be completed to ensure the transaction is completed and all parties are satisfied. With the associated risks involved it is understandable that many people employ the services of a highly qualified Real Estate Agent. There are endless cases of people trying to sell their own home where they realise it would have been a different story if they’d used the valuable knowledge of a professional real estate agent.

Not all real estate agents are alike, though. There are many different factors that play are part in selecting the right one for you. In some circumstances, there may be hundreds to choose from in certain areas. If you are dealing with Auburn property or Opelika property, for instance, you are sure to be confused as to how to even begin selecting an appropriate real estate agent. By taking a few key factors into consideration, though, it is possible to find someone who will make the process incredibly easy and pain free.

Key factors in choosing the right agent -

When you begin looking for a real estate agent, credentials matter. Ask friends and family members in the area if they can recommend anyone to you. If this is not possible, begin your search by weeding out agents who do not meet your specific criteria. Look for agents that focus in a certain area and the areas you are interested in, for example an agent that specializes in Auburn Property. They are much likelier to be an asset to you in your search.

Experience matters in real estate. Look at agents who have been in the business for a decent length of time. They are far more likely to know and understand all of the ins and outs of the real estate market in the area. Beware of agents who quote you impossibly high prices for property that you are looking to sell; they are probably willing to say anything to get you to sign on.

Find a real estate agents that makes you feel inspired -

Your real estate agent should inspire confidence in you. Before settling on one particular agent, meet with them and see how the dynamic is between the two of you. A real estate agent should exhibit vast knowledge and expertise in the real estate of the area you are looking at. Someone who claims familiarity with Auburn property, for instance, should be able to demonstrate this by discussing the merits of the area.

When you interview a prospective real estate agent, ask them how they plan to work for you. Make sure they go into specifics as to how they will aid you in selling or purchasing property. Ask them about the strategies they prefer to use. The answers they give should make you feel at ease, confident in the knowledge that this agent will work honestly and in your best interests.

____________________________________________

Auburn, Opelika is a great place to call home. With the Auburn, Opelika real estate market slowly picking up pace, there are some fantastic homes for sale in Auburn, Opelika. For those of you looking to relocate to Auburn, or Opelika can hire the services of a reputed Auburn, Opelika REALTOR to help you find a home that suits your style and budget.

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7 Reasons To Check Out Your Real Estate Agent Before Hiring Them

Posted February 2, 2010 by scottelangley
Categories: Choosing a Realtor, Real Estate

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Choosing a real estate agent can be a daunting task for the Auburn, Opelika home buyer. With so many agents and agencies to choose from, it’s easy for a buyer to feel overwhelmed and unsure of what qualities they should be searching for. Is it best to work with a large agency or a small one? Will their chosen realtor follow through on all of their promises? How do they find a realtor with a good reputation and a commitment to serving their clients needs?

All of these questions are valid and should be fully explored. That is why it is so important to choose carefully and do your homework when searching for a realtor. When selecting the person who will help you to purchase the perfect Auburn, Opelika home, it definitely pays to shop around.

A good Auburn, Opelika realtor should be trustworthy

Finding a realtor you can trust should be of the highest priority when searching for a new Auburn, Opelika a home. You need to feel that your realtor is looking out for your best interests, and is dedicated to making your Auburn, Opelika  home purchase a pleasant experience. A good realtor takes the time to provide their buyers with the highest level of service, and is out for more than just a commission check.

A good Auburn, Opelika  realtor answers all of your questions

When searching for your realtor, you should be prepared to interview several potential candidates. You don’t want to simply call the first realtor you see on a billboard or in the Yellow Pages; this should not be a hasty decision. When interviewing potential realtors, look for an individual who patiently answers all of your questions, and never makes you feel like you are wasting their time. Weigh carefully whether you trust what this person is saying, or if it sounds like they are just telling you what you want to hear.

A good Auburn, Opelika  realtor can provide references

Realtors are like any other business person: they are happy to offer references from satisfied customers. If a realtor hedges on giving references, or disregards your request, it is best to move on to the next candidate. Word of mouth is powerful advertisement because only previous customers can tell you if a particular realtor can deliver on all they promise.

A good Auburn, Opelika  realtor has the full support of a good broker

Of course all brokers are going to want your business just as much as the realtor working under them. However, it is possible to determine a lot about an agency and the realtors working there by having a conversation with the broker. Do they take the time to answer your questions? Are you comfortable with their philosophy and sales record? Does the broker leave you with a sense of confidence?
A good Auburn, Opelika  realtor has excellent communication skills

Finding a realtor with excellent communication skills can save you a lot of time and hassle when you are searching for your new Auburn, Opelika  home. A good realtor is able to explain the home buying process in a way that is clear and understandable. They should listen carefully to your needs, and look to meet them appropriately. A good realtor doesn’t show their clients homes that are too large, too small, or out of the buyer’s price range.

A good Auburn, Opelika  realtor anticipates their client’s needs

As a home buyer, you share a certain amount of responsibility in making sure that your realtor knows what kind of home you are looking for. But to a certain extent, a good realtor should be able to anticipate their client’s needs through their knowledge of what their client is looking for, as well as what is available on the market. For example, a realtor should provide information on school districts and local activities for children if their clients are searching for a larger family home.

A good Auburn, Opelika realtor goes the extra mile

Some realtors only do the bare minimum for their clients. They rush through the showings, and then pressure their client to quickly make an offer on a home without giving them time to think things through. This type of realtor is only concerned with collecting their commission check.

A good Auburn, Opelika  realtor focuses on all of the little things that help to improve their client’s home buying experience. They offer advice on loan officers, title companies, and reputable home inspectors. They make sure to appear on closing day to answer any of their client’s last minute questions and to address all concerns. A good Auburn, Opelika  realtor is concerned about building an excellent reputation as a trustworthy ally in the Auburn, Opelika  home buying process. This is the type of realtor you are searching for, and this is why it pays to thoroughly check out any realtor before hiring them.
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Choosing the right realtor when you are looking for the perfect real estate

Posted February 2, 2010 by scottelangley
Categories: Choosing a Realtor, Real Estate

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Choosing the right realtor when you are looking for the perfect real estate is as important as the property itself. Many people make the mistake of choosing the first agent they meet, which may be a mistake. You want the process to go as smoothly as possible, and you want a real estate agent you feel comfortable with. Why does it really make any difference what realtor you choose when looking for that perfect home? You can avoid much frustration by choosing a RE/MAX real estate agent who is well experienced and intimately familiar with the properties available in the area. They can offer counsel, excellent advice and have a knack for showing attention to details. This helps avoid unwanted surprises or problems from arising. In these tough economic times, you want a realtor who is well seasoned and knows the complexities of real estate transactions. This will insure that they are committed to giving you quality advice and complete attention to your needs. This is perhaps the biggest decision of your life, so put it in the best hands possible. Auburn, Opelika is home to many artists, with a locale that is conducive to all kinds of enjoyable activities. Hiking, horseback riding and mountain biking are just a few of the activities you will look forward to in this rustic, welcoming community. If you love golfing, you will find some of the most luxurious homes you have ever seen along the magnificent golf facilities. Auburn, Opelika offers some of the most beautiful homes and landscapes you will ever see. If a condo is more to your liking, we have that too. Whatever your preferences, you will find it in this unique and inviting Auburn, Opelika city. Luxury homes setting on spacious tracts of land and lavish amenities are what you will find here. We also offer excellent living in exclusive subdivisions that offer extra privacy and protection with gated access. If beautiful scenery, fine living and activities for everyone in the family is what you are looking for, contact your RE/MAX realtor today! You truly won’t find more exquisite homes, condos or real estate anywhere else in the world.
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Foreclosures: Ten Reasons for Buyer Caution

Posted February 2, 2010 by scottelangley
Categories: Foreclosure Deals, Real Estate

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Foreclosed homes aren’t always the best deal in town – even if they do come with a price tag that appears to be lower than some other homes in the neighborhood.

Here are 10 reasons why that is true, offered by Vince Mastronardi, president of On-Site Specialty Cleaning & Restoration in suburban Detroit.

No heat in the winter. When a home has been left unheated, buyers run a risk of damaged pipes.
Not removed but ripped. Thieves and even angry former owners can do a lot of damage when they depart with fixtures and key systems like heaters and air conditioners.
Peeling, bubbling, and discoloration. Water incursion isn’t always obvious, but these are signs.
Mold. Where there is water there is mold. Look inside cabinets, behind drawers, and around built-ins.
Blocked drains and pipes. Sewer backups can be expensive to fix.
Black cobwebs. This is the result of a malfunctioning furnace, common in properties where there hasn’t been maintenance for a long time.
Homemade and handy. Where renovations don’t look professional, check with the municipal authority. They may have been completed without permits and that could mean they have to be redone.
Fresh paint everywhere. What is the seller covering up?
Check the basement. Look for discolored subflooring, which can point to mold. And search for asbestos, common in older homes that haven’t been brought up to code.
Air quality. Include air and surface testing in a home inspection. It’s a few hundred dollars well spent.

 
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Did You Know: The First-Time Buyer

Posted February 2, 2010 by scottelangley
Categories: Real Estate, Tax Credit 2009

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  • As the data come in as part of the Realtors® Confidence Index survey we can increasingly see the impact of the first-time home buyer tax credit.
  • NAR has tracked first-time buyers as a percentage of total market for a number of years. The number fluctuates, but is generally in the neighborhood of 40 percent, give or take a little.
  • We have recently started to collect monthly data. The graph below shows participation by first-time buyers in recent months in the home market.

  • From May onwards, with the exception of July, first-time buyers were well in excess of 40 percent of total buyers, finally reaching over 50 percent of a 6.1 million sales market in the October/November time frame in anticipation of the end of the tax credit.
  • Previous NAR projections indicated that the tax credit would elicit an additional 350,000-400,000 sales from buyers who would otherwise not have been able to participate in the market. Subsequent data has shown that there was a substantial increase in the market (from 4.5 million annual sales in March ’09 to 6.1 million annual sales in October ‘09) and in first-time buyers (from a traditional 40% to 51% for October ’09).

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How to choose a realtor that’s right for you

Posted February 2, 2010 by scottelangley
Categories: Real Estate, Realtors

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Real estate agents are a bit like coffee shops, you can find one on just about every corner. Problem is that 87 per cent of the 324 licensed realtors in Lee County will no longer be practising in the next five years. So here are a few pointers to help you pick out the cream from the rest of the crop.

Above all else, nothing beats a good referral from a trustworthy friend. If someone you know has only nice things to say about their realtor even after the move, you can take it as a resounding vote of confidence. Like so many other things, the follow-through makes the world of difference.

Now, if you’re going the pioneer route and choosing one individually, always remember who’s in charge: You!

Advertisements, canvassers and the Internet can usually give you a good indication of the most active realtors in your area. Advertisements are specifically designed to get your business so don’t just go with the hype. Choose four-to-five agents from different offices, to start with, and interview them.  If none of them works out continue with the search.

Question each on their experience, knowledge, and commitment. You wouldn’t hire a part-time surgeon to perform your surgery, so why hire a part-time, or otherwise uncommitted, realtor to help with the largest transaction you’ll ever make? Ask for a list of referrals (past clients) and make sure to use the list. It’s the next best thing from an actual referral. Educate yourself on how successful, active, professional and personable they are. Ask them why you should choose them from the rest. For many agents this will trigger a trademark response, but what you’re looking for here is sincerity. Most of the top agents will have identical statistics, designations and other decorative features, but the best of the best will have a genuine and likable personality, the kind you will want to work with. In a “people-business” like real estate, the quality of the person definitely makes a difference.

How the agent presents the first document that requires your signature is a true test. If they lead with the hook, line and sinker rather than explaining what you’re signing and a concern for your level of comfort, you might want to rethink your decision. 

During the actual buying or selling process, your comfort level should grow continuously, like a blossoming friendship. Never feel hesitant about asking questions. Pushing personal preferences for facts is pushing for a sale, and the only pushing your realtor should be doing is for the best possible price, in your favour.
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Forecast Update: 10-year Treasury Note, Foreclosure Moratorium

Posted February 2, 2010 by scottelangley
Categories: Forclosures, Real Estate

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  • GDP 2009 Q4:  +3.6%
  • GDP 2010 Q1:  +3.0%
  • GDP 2010 Q2:  +3.2%
  • Unemployment rate by  mid-2010: 9.7%
  • Average 30-year fixed mortgage rate by mid-2010: 5.6%  
  • What does today’s data mean for REALTORS®and consumers?

    • Mortgage rates have been inching higher, though they still remain favorable. Expect even higher rates in 2010, independent of what the Federal Reserve does.
    • A relief – though a very short one – for distressed homeowners facing foreclosures. Fannie and Freddie, as well as few major banks, have announced a temporary halt in foreclosures at least through the holiday season. This extra breathing room should be used by homeowners to talk to their lender and apply for a more permanent loan modification plan offered from the Treasury. But the painful reality is that many of distressed homeowners will face foreclosures once the holiday suspension period ends.

    10-year Treasury Note

    • The yield on the 10-year Treasury borrowing rate has been rising of late. It had been 3.2 percent the week of Thanksgiving. Now, just before Christmas, it has risen to 3.5 percent. The 30 basis points rise generally translates into a rise of equal magnitude in 30-year fixed rate mortgages.
    • Because of very high budget deficits, the 10-year Treasury yield is expected rise further in 2010. That’s because if government has to keep borrowing, then it has to start offering higher rates to attract bond purchasers. Of course, it is possible if other governments are running into greater deficit trouble than the U.S. (Greece for example), than bond buyers may prefer U.S. debt over other sovereign debt, and thereby keep the U.S. borrowing rate low.
    • Eventual higher inflation may also push up government borrowing and mortgage rates. With so much printed money by the Federal Reserve, if the bond buyers begin to demand higher compensation to protect from a possible loss in currency purchasing power, then interest rates will also be pressured to rise. Right now, inflation is not a concern. But what happens two or three years from now?
    • Hope for the best but prepare for the worse. Mortgage rates are expected to be mostly in the mid 5’s in 2010, but rates are known to change sharply and quickly.

    Foreclosure Moratorium

    • Good news for distressed homeowners regarding a temporary halt in foreclosures. 
    • However, the economy and the market conditions clearly suggest continuing high foreclosures in 2010. The jobless rate is likely to be close to 10 percent for most of 2010. Furthermore, there are a sizable number of homeowners who are underwater. It’s a toxic combination. We witnessed the highest foreclosures in 2009 since the Great Depression. The foreclosures in 2010 could be just as high as in 2009.
    • From the market perspective, there is great deal of buyer interest in buying a foreclosed home. There are even investors eagerly purchasing, often all-cash, these distressed properties at deeply discounted prices. So despite the high foreclosures, there are buyers who are clearing the properties off the market.
    • In some fast recovering markets like Las Vegas, Southern California, and south Florida, there is in fact an inventory shortage of lower-priced homes. Once the foreclosure moratorium ends, there could be a multi-bidding war in these markets.

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    Auburn moving ahead with plans for senior center

    Posted February 2, 2010 by scottelangley
    Categories: Auburn Activities, Senior Center

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    The Auburn Planning Commission took action Thursday night to allow for a senior center to be built near the Frank Brown Recreation Center and Jan Dempsey Arts Center.

    The group unanimously granted conditional use approval for expansion of the rec center and the addition of a senior center building to the property on Opelika Road.

    The new senior center building will be located on a currently vacant 1.63 acre parcel along Perry Street, according to the city’s proposal. Interior renovations of the rec center were completed in December, but future plans call for an addition to it.

    City planner Cathy Cooper, who reviewed the proposal, said the current parking area will be reconfigured to accommodate access to all buildings.

    Pat Moore, a Perry Street resident, commended city officials on the project, but expressed concern about the future impact on traffic. She recommended a stop sign be installed on East Drake Avenue, which runs behind the arts center, to give vehicles a chance to exit the center’s parking lot. Currently, Moore said it is a challenge because of the volume of traffic using Drake.

    The item will now go to the Auburn City Council for final approval.
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    Foreclosures will be a big part of the future real estate market in Auburn and Opelika

    Posted February 1, 2010 by scottelangley
    Categories: Forclosures, Real Estate

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    Is Fannie Mae HomePath the Right Path for your customers?

    How the new Fannie Mae HomePath financing program works and how to use it wisely.

    The Federal National Mortgage Association (FannieMae) recently announced a new program called HomePath® Financing which allows for special financing on designated foreclosed properties now owned by Fannie Mae. Note that this loan product is only available to those properties currently owned by Fannie Mae. These listings are often designated as potential HomePath possibilities on the MLS listings, and you can also use the HomePath website to confirm whether or not a property is eligible.

    HomePath financing is only available through lenders that have specifically been chosen by Fannie Mae.

    (WR.Starkey is FannieMae approved)

    There are two key features to the HomePath program: (1) it does not require an appraisal and (2) it does not require PMI (Private Mortgage Insurance). It will help finance properties where the appraisal or condo requirements would be a hurdle for other forms of financing. The waiving of PMI will help where a loan approval is possible but no PMI company would write a PMI policy (e.g. condos with less than 10% down). In addition, the HomePath program requires limited down payment of 3% for owner occupied and 10% for investment properties.(Credit restrictions apply).

    Just like all Fannie Mae (and Freddie Mac) programs, the HomePath product comes with pricing adjustments. It is certainly not the lowest cost financing available. To better understand this we will break the use down in two groups: 1. Owner Occupied and 2. Investment properties.

    Owner Occupied
    The main reason to use HomePath for someone planning to purchase a home would be a lower down payment,(as low as 3%)  compared to an FHA with 3.5%.  The rate cost is a little  higher than under  other programs, but a buyer putting only 3% down would not have to pay any Mortgage Insurance for the life of the loan. However, it is important to note that a 6% seller credit/concession is possible for owner occupied purchases so  points can be paid by the seller to get a lower rate.

    Investment Properties
    The HomePath program is perhaps the only program that allows for the purchase of investment properties with as little as 10% down (only singles and 2-units; 3-4 require 25%). This really opens a door that has been closed for a while as there appears to be many interested in acquiring real estate as an investment but the down payment is a hurdle. Under this program the current limit of not more than 4 properties financed by same borrower with Fannie Mae is expanded to the 10 unit rule. Note that after 4 properties the down payment required goes to 25%.

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