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Setting up your Real Estate Blog for Continuous Buyer and Seller Leads

If you have a story to tell, how do you let the world know about it?

People are saying nice things about you; how can you share this in a cool way?

Do you talk Real Estate on your blog?

Can you set up a blog for free? Yes! And we will show you how.

Join us this Tuesday at 12:00 Eastern as we share

• How to set up your blog for free
• Why you need to have a blog
• How to use your blog to generate leads
• How to get others to write articles for $5
• The Mysterious Stranger!
• Why it’s not about getting traffic
• How to generate buyer and seller leads (maybe even with your first post)

Be sure to reserve your spot now as this class will fill up quickly.

Please click here to register for class

Look forward to seeing you then!

Dedicated to your success,

John R. Fortener

PS…If you missed last week’s class about listing presentations on Facebook, you’ll definitely want to catch the replay. Give me a call for access! 770-460-5900

Using Facebook to win your next listing appointment

Facebook-Marketing
What if you could use the largest social media site on Planet Earth,
Facebook, to provide something of such value that your sellers feel
obligated to give you the listings?

What if you could use this exact same strategy to tie in all their friends,
family and co-workers within hours of you getting the listing?

We are going to show you a very easy way to use Facebook to win your
next listing appointment and every appointment after that.

Tuesday January 14th
12:00-1:00 EST

Register Now by clicking here

To add some extra pizzazz, we’ll also show you how to have all their
friends, family and co-workers join the party within hours of you
winning the listing. You’re going to love this one!

Dedicated to your success,

JRF Signature

PS…if you missed last week’s class, it was a major game changer and
you’ll want to catch the replay. Call me for the link and password!

Fortener News

Got Questions, Get Answers!

FHA Mortgage Insurance Changes- How this will Impact You!

FHA issued a notice yesterday that it will make some fairly substantial changes to both the Upfront and Monthly mortgage insurance premiums (MIP) that it charges to FHA borrowers.
FHA lending has become the lifeline for both the lending industry and the real estate industry over the last 2 years. Because of its lower downpayment requirements and more generous qualifying ratios, the amount of FHA loans has surged during that time. With that increase in loans, FHA has taken on additional financial risk and exposure, and these new changes are an effort by FHA to reduce that excess risk.
FHA loans normally require two types of mortgage insurance for each loan: an “Up Front Mortgage Insurance Premium” (UFMIP) that is charged at the time the loan is taken out, as well as a monthly Mortgage Insurance Premium (MIP) that is added to the monthly mortgage payments. The UFMIP has historically been a fairly large fee, but one that the borrower could roll into their loan so that they would not have to increase their out-of-pocket expenses, with very little effect on their monthly payment; the MIP, on the other hand, was smaller in absolute terms but had more of an impact on the borrower’s monthly payments.
You may remember, that on April 1, 2010, the UFMIP was raised from 1.75% of the borrowed amount to 2.25% of the borrowed amount. And the monthly was slightly increased to .55%.
Effective September 7, 2010, FHA’s new requirement will actually reduce the UFMIP to even less than it was previously–down to 1.00% of the borrowed amount for most loans. That reduction will for most FHA borrowers reduce their monthly payment by about $6/mo for every $100,000 of their loan (assuming the current interest rates).
However, FHA is at the same time imposing a significant increase in the monthly MIP, from an “MI factor” of .55%, to an MI factor of .90%. Each MI factor percentage increase of 1% corresponds to an increase in the borrower’s monthly payment of roughly $0.83 per $100,000 of the loan. (Unlike w/ UFMIP, the MIP’s effect on monthly payment is independent of interest rates). Therefore, with the MIP nearly doubling because of this increase, the borrower’s monthly payment, due to the changes to MIP, will increase about $29/mo for every $100,000 loan amount.
The net result of these two changes is that borrowers will see their monthly payments go up by roughly $23/mo for every $100,000 of money borrowed. For our area, that would mean a typical borrower with a $200k loan, would have to pay about $50 more for their FHA loan. That’s not that big of a deal, especially with today’s historically low interest rates, however, it still will lower the number of people that will be able to qualify for loans and/or afford the properties that they wanted to purchase.
These new changes should go into effect starting with all FHA loans w/ casefile numbers issued on or after September 7th, 2010.

How to STOP an accelerating car… SAFELY!

Check out this video from Consumer Reports on How to Stop an accelerating vehicle… SaFELY. Pass this along to your friends and family. You never know whose life might be saved with this information. Go to:

http://video.consumerreports.org/services/player/bcpid21495733001?bctid=48234862001

Tax Credits aren’t just for First time Home Buyers

Tax Credits aren’t just for First time Home Buyers

Did you know that the Tax Credits aren’t just for First Time Home Buyers or move up buyers?

There are a number of home improvements that you can do to your own home that makes it more “Energy Efficient” that also qualify for Tax Credits.

What are they you ask?

Here is the link to the National Association of Home Builders’ website that details all of the types of home improvements that qualify for the tax credit like Insulation or New windows/skylights, to name a few. Go here for a complete list of improvements that qualify:

 http://www.nahb.org/generic.aspx?genericContentID=113316

 The energy-efficiency home products must be “placed in service” between Jan. 1, 2009 and Dec. 31, 2010. The credits are only valid for improvements made to the taxpayer’s principal residence, except for qualified geothermal, solar, wind property, which can be installed on any home used as a residence by the taxpayer.

 Home owners can claim the 25C and 25D credits on Form 5695 when they file their income tax returns. Check with your tax professional to ensure correct application of the energy-efficiency tax credit.

 I hope this is helpful. Pass this along to your friends and family.

You know, my youngest daughter just got engaged, so she is looking to move and that got me thinking …(scary, huh?), If any of your Friends or family have experienced a recent “life event”, like a Wedding or a new baby or new job, etc., they might be thinking about their next move as well.

So let me know if you know of anyone that I could help or answer any questions for them. You can contact me at john(at)hsoaga.com

I look forward to hearing from you.

Have a Great Week!

New FHA Policy Changes Will Impact Potential Home Buyers!

FHA just announced some sweeping policy changes that will impact all of our businesses and I wanted to share them.  

In a Mortgagee Letter that is to be released tomorrow, January 21st, and that will go into effect in the spring, FHA stated that in order to better manage its risk and at the same time strengthen its capital reserves; it has announced the following policy changes:

1.  Increasing the Upfront MIP from 1.75% to 2.25%.

      They have also requested legislative authority to raise the annual MIP from its current level of .55% – (no new percentage was suggested)

2.  They are reducing the seller concession from 6% to 3%.

(This change will be posted in the Federal Register in February, and after a notice and comment period, would go into effect in the early summer.)

There are some other minor changes to the monitoring of FHA lenders as well as the requirement for credit score and down payment. However, most of the lender’s underwriting overlays already take tthese into account and thereby make these changes moot.

  As you can imagine, these changes will certainly hamper some of your potential buyer’s ability to purchase a home, so I wanted to make you aware of it, so that you can be prepared. I will continue to monitor this and any other news that will potentially impact our businesses. If you have any questions or want more details, I can forward on the actual press release.

HomeLoansbyJohn.com                        contact me: john(at) hsoaga.com