I am a licensed Real Estate Agent in TN, and KY with Reliant Realty ERA Powered. I have over 18 years of public relations and corporate business practices. I represent clients as a Buyer's Agent who are needing to purchase an existing home, a new home or land to build their Dream Home! I work with numerous builders within the area when it comes to clients wanting to build a custom home in a development, or on land recently purchased. I am able to take care of my client's properties from Contract to Closing and assure them both efficient and professional representation throughout the entire process. I also represent clients as a Seller's Agent by listing, marketing, advising, negotiating and selling their existing home or land. Regardless of how I may represent You, all of my clients receive the type of professional representation that each of you deserve.
Buying or Selling real estate is a major step and investment anyone will do in their lives, so why not choose REALTOR that prides themselves in doing a professional and efficient job, all of the time!
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Clarksville, TN firstname.lastname@example.org
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Schools from Philadelphia to Boston could close this week as a potentially historic storm dumps feet of snow on the Northeast. Seven states have blizzard watches, which means many of the nation’s 74.5 million children will be at home with little to do. But that’s no reason for parents to panic — your snow day options are endless for keeping children occupied both inside and outside the house.
Here are five creative ideas for entertaining little ones. If the weather’s too bad to go outside, gather your group at the kitchen table for these activities:
1. There’s nothing better than warm cookies on a cold day. Try allrecipes.com’s three-ingredient peanut butter cookies. All you need is 1 cup of peanut butter, 1 cup of sugar and 1 egg. Mix together, shape into balls, place on a cookie sheet, and bake for six to eight minutes at 350 degrees.
2. Make snowflakes of your own. Set out scissors and a stack of copy paper and let the kids go crazy. You can help them fold and cut snowflakes with multiple points or trace on a special pattern. Disney even released a PDF of “Frozen” designs.
3. Have a dance party in your living room. Once the children are tired and sweaty, let them take naps in blanket forts.
4. Create your own silly putty. Pour Elmer’s Glue-All multipurpose glue into a bowl with some food coloring and Sta-Flo concentrated liquid starch. Stir, let it rest for five minutes and knead it into a putty, according to PBS. Then you’re ready to bounce.
5. Produce and solve custom word searches. Discovery Education’s Puzzlemaker is easy for kids and parents to use. Just input how big you want the word search to be, what words it should include and what format you want. Then print, exchange and get to work highlighting.
Once the snow stops, bundle up and get ready to have fun with these five suggestions on what to do outdoors:
1. Put together bird feeders. The Homeschool Scientist has figured out two ridiculously easy ways to do this. One, spread peanut butter on an empty toilet paper roll, coat in bird seed and hang on a branch. Two, string Cheerios and grapes on a length of craft wire and fasten around a pole.
2. Use the storm as a learning opportunity. Walk around with a yard stick and help kids measure how deep the snow is in different areas.
3. Fill spray bottles with water and food coloring and let the kids loose in the yard to draw graffiti on the snow.
4. Play Tic Tac Snow. Use a branch to draw a big board in the snow and have players place sticks and pinecones as X’s and O’s.
5. Mix up some snow ice cream using instructions from allrecipes.com. Take a gallon of freshly fallen snow and stir in 1 cup of white sugar, 1 tablespoon vanilla extract and 2 cups of milk. Once the ingredients are combined, serve immediately.
eHow Personal Finance Money Managing Borrowing Money FHA Home Loan Requirements
FHA Home Loan Requirements
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The Department of Housing and Urban Development (HUD) oversees the FHA Mortgage Insurance Program. The federal government instituted this program during the Great Depression to make home ownership accessible to millions of Americans.
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FHA Mortgage and Income Limits How to Qualify for an FHA Loan
Approved lenders are the source for FHA mortgages. Should the loan go into default, the government promises to repay the balance.
FHA loans generally have lower interest rates than conventional mortgages and allow lower down payments ranging from 3 percent to 5 percent.
The credit guidelines for an FHA mortgage are less strict than other financing, allowing lower FICO scores and a less-than-perfect credit history.
It is permissible to get your down payment from gifts, relatives or places other than your personal savings. Traditional mortgages insist on the down payment originating from your own resources.
Section 203 of the FHA rules allows mortgages and improvement dollars to rehabilitate a property. It also allows for interest-deferred payments while the property is under construction. These programs are not offered in all areas.
FHA recommends the housing expense does not exceed 29 percent and your total debts should be 41 percent, or less, of your total income. In addition, housing prices are capped on FHA loans by region. For example, in San Francisco, the cap is $362,700 and in Springfield, Missouri, loans are capped at $200,160.
There are many loans types offered by the FHA, depending on your needs. Additionally, some guidelines vary by region. For more information in your area, contact an approved FHA lender or consult the FHA website.
Read more : http://www.ehow.com/facts_4813848_fha-home-loan-requirements.html?ref=Track2&utm_source=ask
The ranks of real estate appraisers stand to shrink substantially over the next five years, which could mean longer waits, higher fees and even lower-quality appraisals as more appraisers cross state lines to value properties.
There were 78,500 real estate appraisers working in the U.S. earlier this year, according to the Appraisal Institute, an industry organization, down 20% from 2007. That could fall another 3% each year for the next decade, according to the group. Much of the drop has been among residential, rather than commercial, appraisers.
Some say Americans are unlikely to feel the effects right now, as it’s mostly confined to rural areas and the number of appraisal certifications — many appraisers are licensed to work in multiple states — has held relatively steady. Others say it’s already happening, and rural areas are simply the start.
Since most residential mortgages require an appraiser to value a property before a sale closes, they say, a shortage of appraisers is potentially problematic — and expensive — for both home buyers, who rely on accurate valuations to ensure that they aren’t overpaying, and sellers, who can see deals fall through if appraisals come in low.
“As an appraiser, I should be quiet about this shortage because it’s great for current business,” said Craig Steinley, who runs Steinley Real Estate Appraisals in Rapid City, S.D. But “what will undoubtedly happen, since the market can’t solve this problem by adding new appraisers, [is] it will solve the problem by doing fewer appraisals.”
A shrinking and aging pool
As appraiser numbers are falling, the pool is aging: Sixty-two percent of appraisers are 51 and older, according to the Appraisal Institute, while 24% are between 36 and 50. Only 13% are 35 or younger.
Industry experts blame an increasingly inhospitable career outlook. Financial institutions used to hire and train entry-level appraisers, but few do anymore, according to John Brenan, director of appraisal issues for the Appraisal Foundation, which sets national standards for real estate appraisers.
That has created a marketplace where current appraisers, mostly small businesses, are fearful of losing business or shrinking their own revenue as they approach retirement. Many have opted not to hire and train replacements.
The requirements to become a certified residential appraiser have also increased over the past couple of decades. Before the early 1990s, a real estate license was often all that was needed. Today, classes and years of apprenticeship are required for certification.
And this year marked the first in which a four-year college degree was required for work as a certified residential appraiser. (It takes only two years of college to become licensed, but that limits the properties on which an appraiser can work. Some states, meanwhile, only offer full certification, not licensing.)
“If you come out of college with a finance degree, you can work for a bank for $70,000 [or] $80,000 a year with benefits,” said Appraisal Institute President Lance Coyle. “As a trainee, you might make $30,000 and get no benefits.” For some, especially those with student loans to pay, the choice may be easy.
“There were definitely easier options of career paths I could have chosen,” said Brooke Newstrom, 34, who became an apprentice for Steinley Real Estate Appraisals earlier this year. She networked for a year and a half, cold calling appraiser offices and attending professional conferences, before getting the job.
For residential appraisers, business isn’t as lucrative as it once was. Federal regulations in 2009 led to the rise of appraisal management companies, which act as a firewall between appraisers and lenders so appraisers can give an unbiased opinion of a home’s value.
But those companies take a chunk of the fee, cutting appraiser compensation. Some community lenders don’t use appraisal management companies, according to Coyle, but they are often used by mortgage brokers and large banks.
Appraiser numbers appear poised to continue shrinking, and as appraisers continue to get multiple state certifications they may be stretched more thinly, industry experts say.
For now, any shortages are likely regional, Brenan said. “There are certainly some parts of the country — and primarily some rural areas — where there aren’t as many appraisers available to perform certain assignments that there were in the past,” he said.
Elsewhere, however, the decrease in appraisers isn’t felt as acutely. In Chicago, according to appraiser John Tsiaousis, it may be difficult for young appraisers to break in but customers in search of one shouldn’t have a problem.
“I don’t believe they will allow us to run out of appraisers,” Tsiaousis said. “Some changes will be made [to the certification process]. When they will be made, I don’t know.”
Longer waits, more expensive appraisals, and quality questions
The effects of an appraiser shortage could be substantial for individuals on both sides of a real estate transaction, experts say.
Fewer appraisers means longer waits, which could hold up a closing. That delay means that borrowers might have to pay for longer mortgage rate locks, according to Sandra O’Connor, regional vice president for the National Association of Realtors. (Rate locks hold interest rates firm for set periods of time and are generally purchased after a buyer with initial approval for a loan finds a home she wants.)
Longer waits also affect sellers who need the equity from one sale to purchase their next home. When they can’t close on the home they’re selling, they can’t close on the one they’re buying.
A shortage also means appraisals will likely cost more, which some say is already happening in rural areas. Appraisal fees are generally paid by borrowers.
“Appraisal fees in areas where there aren’t enough appraisers are higher than those areas where there are plenty of people to take up the cause,” said Steinley, who holds leadership roles in the Appraisal Institute and the Association of Appraiser Regulatory Officials.
There is a quality issue, too: In some areas, appraisers come in from other states to value homes. While there are guidelines for these appraisers to become geographically competent, they could miss subtleties in the market, Coyle said.
And if the shortage isn’t addressed, and lenders are unable to get appraisers to value homes, lenders might ask federal regulators to relax the rules governing when traditional appraisals are needed, allowing more computer-generated analyses in their place, according to Steinley.
Automated valuation models, which are less expensive and quicker, are rarely used for mortgage originations today, Coyle said. They’re sometimes used for portfolio analysis, or when a borrower needs to demonstrate 20% equity in order to stop paying for private mortgage insurance, he added. They might be used for low-risk home-equity loans, Brenan said.
Currently, appraisers are required for mortgages backed by the Federal Housing Administration, Fannie Mae and Freddie Mac. Those mortgages make up about 70% of the market by loan volume and 90% of the market by loan count, according to theMortgage Bankers Association.
And computer-generated appraisals can’t match the precision of one conducted by someone who has seen the property, and knows the area, many in the industry say.
The industry is beginning to address the issue. Last month, the Appraisal Foundation’s qualifications board held a hearing to gather comments and suggestions, Brenan said.
One of the options being discussed: Creating a set of competency-based exams that could shorten the time people spend as trainees. That way, someone with a background in real estate finance could become certified more quickly, Steinley said. The board is also looking to further develop courses that would allow college students to gain practical experience before graduation, Brenan said.
Proper education is important “because real estate valuation is hard to do, and you need to get it right,” Coyle said. But the unintended consequences of the current qualifications are just too much, he added. “It’s almost as if you have some regulators trying to keep people out.”