Another FREE HUD Training for Real Estate Agents in Chattanooga, TN

HUD Training for Real Estate Agents in Chattanooga, TN

This is a FREE Class, open to all selling agents in TN.

All licensed Real Estate Agents and Brokers in Tennessee (& NW Georgia) are invited to attend this class on Selling HUD Homes in Tennessee. This class is for agents currently selling HUD Owned properties that need a refresher course, OR agents who have never sold a HUD Home but would like to expand into this market. There is a right way to sell HUDs that will make the process work for you. The wrong way will drive you nuts and make your life
 
The upcoming class is on July 16th in Chattanooga, TN at the Greater Chattanooga Association of Realtors®. We meet at 9:00 AM for this class. This class will last about 2 Hours and there is NO CHARGE.



Agents and anyone interested in buying a HUD Home can search for available listings at the HUD Homestore.  Just go to http://www.hudhomestore.com/.


I am a Local Listing Broker for HUD Homes representing the HUD Asset Manager, PEMCO Limited. My company is UpwardRealty.com and my website is, you guessed it: http://www.upwardrealty.com/.

HUD Training for Real Estate Agents in Chattanooga, TN

This is a FREE Class, open to all selling agents in TN.

All licensed Real Estate Agents and Brokers in Tennessee (& NW Georgia) are invited to attend this class on Selling HUD Homes in Tennessee.  This class is for agents currently selling HUD Owned properties that need a refresher course, OR agents who have never sold a HUD Home but would like to expand into this market.  There is a right way to sell HUDs that will make the process work for you.  The wrong way will drive you nuts and make your life more complicated.

The upcoming class is on June 11th in Chattanooga, TN at the Greater Chattanooga Association of Realtors®.   We meet at 9:00 AM Next Monday for this class.  This class will last about 2 Hours and there is NO CHARGE. 

Agents and anyone interested in buying a HUD Home can search for available listings at the HUD Homestore.  Just go to http://www.hudhomestore.com/.

I am a Local Listing Broker for HUD Homes representing the HUD Asset Manager, PEMCO Limited.  My company is UpwardRealty.com and my website is, you guessed it: http://www.upwardrealty.com/.

See you next Monday!

HUD Homebuyer's Seminar in Hixson, TN

Here are the Ws:

When: Thursday, June 30th, 2011.
Where: Northgate Title Escrow - Conveniently located behind the Post Office beside Northgate Mall.
What: HUD Homebuyer's Seminar Who: Anyone interested in buying a home as a residence or an investment. Hopefully YOU!
What Time: 6:00 PM to 8:00 PM or until all your questions are answered.
Why: Because buying a home in the current economy should be an informed decision - Arm yourself for success.


The focus of this session will be "How to Buy a HUD Home in Tennessee." HUD homes are listed properties that are owned by the Department of Housing and Urban Development, a Federal agency. These homes can be purchased by either Owner Occupants or by Investors. You will learn all about HUD Homes and why they can be such a great value to you as your next home or as an investment property.

This Seminar is completely FREE

At the Seminar:

...You can talk with representatives of Northgate Title Escrow to answer any questions you have about Title Insurance, closing costs, the closing process, etc.
...You can talk with representatives of Community Mortgage about your financing questions, loan applications, underwriting process, and what is currently happening in the mortgage world.
...You can talk with representatives of Old Republic Home Protection about any home warranty questions you have.
...And you can talk with me about the current real estate market, agency questions, and the home search and buying process.

This is your opportunity to get a lot of valuable information quickly from the real estate industry professionals that are in the market everyday. We will also have some fun with light refreshments and some door prizes from our sponsors.

You can register on-line at my company website: www.UpwardRealty.com, or you can register by email at Info@UpwardRealty.com, or you can call my office at 423-847-8001 and ask to be registered.

Again, there is no charge or obligation created by attending this seminar.

Chattanooga Tennessee Broker Earns CDPE Designation

Chattanooga, Tennessee (Grassroots Newswire) February 18, 2011 --Raymond Warren, Broker/Owner of UpwardRealty.com has earned the prestigious Certified Distressed Property Expert (CDPE) designation, having completed extensive training in foreclosure avoidance and short sales. This is invaluable expertise to offer at a time when the area is ravaged by “distressed” homes in the foreclosure process.

Short sales allow the cash-strapped seller to repay the mortgage at the price that the home sells for, even though it is lower than what is owed on the property. With plummeting property values, this can save many people from foreclosure and even bankruptcy. More and more lenders are willing to consider short sales because they are much less costly than foreclosures.

In the Chattanooga area, there are thousands of homes currently in danger of foreclosing. It is happening in all price ranges. Local experts say that even high-priced homes are not immune.

“This CDPE designation has been invaluable as I work with sellers and lenders on complicated short sales,” said Warren. “It is so rewarding to be able to help sellers save their homes from foreclosure.”

Alex Charfen, founder of the Distressed Property Institute in Boca Raton, Fla., said that Realtors® such as Raymond Warren with the CDPE designation have valuable training in short sales that can offer the homeowner much better alternatives to foreclosure, which virtually destroys their credit rating. These experts also may better understand market conditions and can help sellers through the emotional experience, he said.

The Distressed Property Institute opened in January 2008 and provides training on-site and online. The CDPE is the premier designation for Realtors® helping homeowners in distress and handling short sales.

“Our goal is to educate as many people as possible so we can help as many homeowners as possible,” Charfen said.

For more information about UpwardRealty.com, please call 423-847-8001. UpwardRealty.com is located at 6726 Hixson Pike, Hixson, TN 37343.

Have you been thinking about a career in real estate? If so, check out this video.

HUD Homebuyer's Seminar in Chattanooga, TN

If you are considering buying a home and would like to learn more about the process, you have a great opportunity coming up shortly. You are invited to attend a HUD Homebuyer's Seminar on March 3, 2011 right here in Chattanooga, Tennessee. The seminar will begin at 6:00 PM (EST) and end around 8:30 PM.

This seminar will be sponsored by Peoples Home Equity and Upward Realty.com. The location is the Peoples Home Equity office at 6650 East Brainerd Road, Chattanooga, TN 37421. Reserve your seat now by calling Shannon Lunn @ 423-591-9801 or by email to SLunn@ChattMortgage.com.

This is a great chance for you to get all your questions answered by local mortgage and real estate professionals who work in the current market everyday. There are lots of myths circulating in the marketplace and in the news. You need the facts and that is the purpose of this seminar. Before you venture into the current real estate market, arm yourself with the facts so you can be a knowledgeable consumer. Mistakes in the current market can be very expensive.

Raymond Warren of UpwardRealty.com is a Local Listing Broker for PEMCO, Ltd. and markets HUD Acquired Properties in the Greater Chattanooga Area and 12 counties in Southeast Tennessee. The real estate industry has been an ever changing environment for the last 4 years, this is your chance to get your questions answered by an experienced Broker who is in the local marketplace full-time everyday.

Lori Dodd of Peoples Home Equity will be discussing the current mortgage market and answering your home loan questions. You will also be able to talk with Peoples Home Equity about your personal mortgage needs and get pre-qualified. Being pre-qualified is a requirement for HUD and banks selling distressed properties. Property owners like to know that a buyer is able to complete the deal.

Sponsors:
Peoples Home Equity, 6650 East Brainerd Road, Chattanooga, TN 37421, 423-591-9801.
UpwardRealty.com, 6726 Hixson Pike, Hixson, TN 37343, 423-847-8001.

For Sale By Owner...Really?

A few years ago, a fellow Realtor® bought a new car and instead of trading in her old car, she decided she would sell it herself. After all, she was a professional salesperson, how hard could it be? And, she could make more money that way...

Well, she went to the hardware store and bought the little "red and black" signs that would tell the world that her car is "for sale". She called the newspaper and placed the ads - of course she paid extra for the heavy borders, "New Listing" headings, and bold type. She put her phone number on the signs and taped them to her car windows. In 2010, she would have surely put an ad on Craig's List.

She was ready to pocket her pending financial windfall. After all, why should the dealer make all that extra money anyway. Anyone can sell a car and she knew that car better than anyone. Right?

If you have ever tried to sell a used car, you know what followed. Her life became selling that car. She soon was talking to everyone who ever thought they might want a car like hers (and many who just needed to be entertained). Most of the calls were from nice folks. But, those little signs and those bold ads do produce, they are like magnets in the world of crazy. There really are "tire kickers" out there, people who will look at and test drive lots of cars but seldom buy.

Some of the "not so nice" folks felt it was their obligation to see the car, drive the car, point out every flaw, educate her on the "current market", and basically tell her that she was crazy (a point she soon began to agree was right.) For some reason a few felt that they needed to point out to her that they had CASH! Somehow they felt that their cash was better than the dollars another person could bring from their bank or credit union. Therefore, she should take less because they had CASH.

Soon, she began to hate that car and wished she had left it with the dealer when she had the chance. Then in reflection one day the Realtor® in her came out, and she asked, "Why would anyone ever try to sell their own home?"

Selling your own home is much like selling a car, but with a lot more at stake. You do open your life to the world. The process can consume your life, because your are emotionally invested in your home. And, you have basically taken on a new full-time job. The longer the process takes, the more desperation sets in and the less firm you become in your resolve. And you begin to wonder about the safety of your family and yourself as you continue to allow strangers into your home and your life. You also realize some of these "buyers" are almost professional at negotiating. Also, everyone wants a good deal for themselves - not you.

Good Realtors® know how to deal with the different aspects of society, that is what we do everyday. We work to know the people we bring into your home. If we are smart, we only bring you qualified buyers, we don't introduce "tire kickers" into your home and your life. We recognize these characters and we don't waste your time or ours.

Our goal should always be to serve you, allow you to continue to live your life, and help you achieve a happy sale of your home. We are the buffer between you and them. We negotiate for a living and we do it on your behalf. We know what your home is really worth and we tell you, plus we tell the buyer when he wants to "steal" your equity.

If you are considering selling your home as a do-it-yourself project, all I can say is "For Sale by Owner...Really?"

I am in the market full-time, everyday, if you want to talk further then just contact me. Or, just give me a call at (423) 847-8001, just ask for Raymond.

Raymond Warren named HUD Listing Broker for PEMCO

PEMCO, Ltd. a contractor for the Department of Housing and Urban Development (HUD) has named Raymond Warren, SFR of Upward Realty.com in Hixson, TN as a Local Listing Broker (LLB) for eleven counties in Southeast Tennessee.

Mr. Warren and UpwardRealty.com will be a listing agent for HUD acquired homes in the Counties of Van Buren, Bledsoe, Sequatchie, Rhea, Meigs, McMinn, Bradley, Polk, Monroe, Roane, Hamilton, and Marion in Tennessee. As an approved listing broker for this region, UpwardRealty.com will be responsible for marketing HUD homes in this area. The local brokerage will also be a resource for buyers interested in purchasing one of these homes. Selling agents interested in selling HUD homes will also be able to use Mr. Warren and his office as a resource for questions about these homes as well as the purchase process.

"We are excited about this opportunity to be a local resource for homebuyers and selling agents in the Greater Chattanooga Area and throughout Southeast Tennessee." stated Mr. Warren. "Our commitment to PEMCO includes not only the marketing of HUD acquired properties, but also conducting training for both interested homebuyers and sales training for licensed real estate agents throughout the region." Classes are expected to begin in the last quarter of this year. Information about the classes will be regularly posted on the company website (

Hixson & Chattanooga, TN Real Estate For Sale - Tax Credit Reminder - April 30th is coming --- SOON!

If you are remotely considering buying a home in the next year, or even two years, can you use an extra $6,500 to $8,000 to sweeten the deal? If so, you need to revise your time table --- Say like RIGHT NOW!

At present our Federal government is making you a limited time offer. How's this? Agree to a binding home purchase by April 30, 2010 and then close the sale by June 30, 2010 and you might just get the money for asking.

Here is the deal, you can get up to 10% of the purchase price as a tax refund check from the IRS. For a first-time homebuyer the max is $8000 and for a move-up buyer the max is still a nice $6,500. What can you do with that?

We are now in the countdown to April 30th and it looks like this may not be extended again... so lets get busy. Take a few minutes now and read the limits and guidelines, I'll even link you to a good site with a click right here. Just promise to come back.

Are you now ready? We can help make it happen at UpwardRealty.com, give us a call now at 423-847-8001. Or pick an agent from our experienced sales team and contact them today.

Pat Branham Earns NAR Short Sales and Foreclosure Certification

Buyers and Sellers Benefit from REALTOR® Expertise in Distressed Sales

Chattanooga/Hixson, TN - Pat Branham with UpwardRealty.com has earned the nationally recognized Short Sales and Foreclosure Resource certification. The National Association of REALTORS® offers the SFR certification to REALTORS® who want to help both buyers and sellers navigate these complicated transactions, as demand for professional expertise with distressed sales grows.

According to a recent NAR survey, nearly one-third of all existing homes sold recently were either short sales or foreclosures. For many real estate professionals, short sales and foreclosures are the new “traditional” transaction. REALTORS® who have earned the SFR certification know how to help sellers maneuver the complexities of short sales as well as help buyers pursue short sale and foreclosure opportunities.

“As leading advocates for homeownership, REALTORS® believe that any family that loses its home to foreclosure is one family too many, but unfortunately, there are situations in which people just cannot afford to keep their homes, and a foreclosure or a short sale results,” said 2009 NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth. “Foreclosures and short sales can offer opportunities for home buyers and benefit the larger community, as well, but it’s extremely important to have the help of a real estate professional like a REALTOR® who has earned the SFR certification for these kinds of purchases.”

The certification program includes training on how to qualify sellers for short sales, negotiate with lenders, protect buyers, and limit risk, and provides resources to help REALTORS® stay current on national and state-specific information as the market for these distressed properties evolves.

For more information about Upward Realty.com, 6726 Hixson Pike, Hixson, TN 37343, please call 423-847-8001. You can also contact Pat Branham by calling 423-304-5597.

Michael Bishop Earns SFR Designation

Short Sale and Foreclosure Specialist

Chattanooga/Hixson, Tennessee (Grassroots Newswire) April 4, 2010 -- Michael Bishop, an affiliate broker with Upward Realty.com, has earned the Short Sale and Foreclosure Resource Certification (SFR) from the National Association of Realtors® (NAR). NAR’s SFR certification is the only one of its kind that focuses on both the buyer and seller sides of distressed property transactions.


Michael has completed both in-class and on-line training in serving the Short Sale and Foreclosure markets. His training included directing sellers to finance, tax, and legal professions, qualifying sellers for Short Sales, developing Short Sale packages. He received training in listing Short Sale and Foreclosure properties and negotiating with lenders. He also has received training in working with distressed property buyers.

For more information about UpwardRealty.com, 6726 Hixson Pike, Hixson, TN 37343, please call 423-847-8001. You can also contact Michael Bishop by calling 423-991-9085.

Homebuyer Tax Credit Extended & Expanded

The long awaited extension of the $8,000 Tax Credit for First Time Homebuyers has finally happened.

And, Washington added something for many of you who already own a home or did not qualify as a "1st timer" because you had owned a home recently. There is a $6,500 tax credit for you, the "Move-Up" buyer. If you have lived in your own home for 5 consecutive years out of the past 8 years, you probably qualify.

The new and improved program does have some income requirements, but they are more generous than the past income limits. Effective November 7, the income limit is $125,000 for a single buyer and $225,000 for a couple. Above these incomes, the credit begins to shrink until you are no longer eligible at $145,000 (single) to $245,000 (couples).

You will need to buy between November 7, 2009 and April 30, 2010 and the purchase needs to close before July 1, 2010. But that is a lot of time to work out the details, if you don't wait until the last minute (again).

Senators have been heard to say "There will be no more extensions of this tax credit." So don't miss out this time.

For all your real estate needs in the Greater Chattanooga, Tennessee Real Estate market, you can always find me at Upward Realty.com

Last Chance - 45 Days to Close...

We are now about 45 days away from the November 30th deadline for the $8000 First Time Homebuyer Tax Credit. Time is slipping away.

My sales team and I are working with a number of anxious buyers this week, but we can still help you find the right house. We will need the help of a top notch lender who can get a loan processed without unnecessary delays, but we still have a very good shot at closing by the deadline.

If you are even close to ready, you need to get with your agent NOW. If you don't have an agent, you can contact anyone on my team for help.

Just a reminder, it is taking over 30 days in most cases to get through the loan process at present. Also, we have the Thanksgiving Holidays coming up at the end of November and you know mortgage companies will be closed for at least 2 days that week. Time is not something you can now waste and still get the money!

Your Realtors® for life are the professional sales staff at Upward Realty.com

© 2009 UpwardRealty.com

60 Days to Close - Last Chance for $8000 Tax Credit

The $8000 tax credit for first time home buyers is set to end November 30th. This is like getting an $8000 discount on your dream home.

With new mortgage and appraisal procedures in place, it is now taking 45 to 60 days to close a new loan. Sooooo...you need to find your new home and make your purchase in the next few days. Time is running out. If you wait another two or three weeks, you run the risk of not closing by November 30th.

Remember, we have holidays in November and mortgage lenders close their offices during holidays... Now could be your last chance to qualify for this tax credit.

There are a number of good home buys available in the Chattanooga area, so lets get started before we lose more time. At UpwardRealty.com, we know what it takes to help home lookers become home owners.

© 2009 UpwardRealty.com

$8000 Tax Credit - A Limited Time Offer

The $8000 tax credit for first time home buyers will end on November 30th. If you want to take advantage of this program, you MUST close the purchase of your home by that date. If December 1st comes and you have not closed, you will not get the money.

Of course, Congress could extend the program, but are you willing to gamble on that? That could be an $8000 bluff to call if you are wrong.

There are a lot of rumors floating around about a $15,000 tax credit coming next year, but that is still just an unfounded rumor. If the market is truly now in recovery and sales will slowly start to climb as the "experts" are starting to predict, then why would the government need to give back $15,000 - enough people are already mad about the $8000 program and the "Cash for Clunkers" programs.

If you are a first time home buyer (which means you have not owned a home in the last three years), then the money is waiting right now ... until November 30th.

In the last 2 years there have been many changes to loan processing in the mortgage market and closings are no longer 2 weeks to 30 days. Many mortgage loans are taking up to 45+ days and often 60 days to close.

Right now, we are telling buyers that the safest way to make sure you get in on the tax credit is to be in escrow by October 1st (the 15th at the absolute latest). That means you need to find the home, negotiate the contract, and get your loan application started by the end of this month - yes, it is now September.

We have helped a number of buyers take advantage of this program already. If you need a professional Realtor® who understands the urgency of this process, then check me out on the web. My company is UpwardRealty.com and we can deliver for you in the Greater Chattanooga, Tennessee area. We have some calculators on our site that can help you look at payments for different mortgage amounts.

Disclaimer: I am a Realtor®, I am not a tax advisor, so please check out the $8000 Tax Credit with your accountant or the tax advisor you use. They can fill in all the little details for you, so you understand how it will work for you personally.

© 2009 UpwardRealty.com

EXIT Upward Realty Creates In-House Academy

Best Trained Agents to be Recognized

Press Release:
Chattanooga/Hixson, Tennessee (Grassroots Newswire), April 2, 2009 --

UpwardRealty.com has created an in-house training academy for their agents. The new program is known as the Upward Academy and began enrolling agents at the end of March. The academy organizes and advances the extensive training the Company has always offered.

"I am very excited to be able to recognize our best agents," said Raymond Warren, Broker/Owner of UpwardRealty.com. "We are proud of the dedication and hard work of our sales team. We want each of them to know their company has great expectations of them, but will support them in achieving those expectations. We can best serve the public by offering them the very best trained agents to represent them."

With enrollment in the designation program of Upward Academy, the agents can earn the Graduate Upward Academy (GUA) designation that identifies them as one of the best in the business. Agents must complete extensive in-house and outside training programs. The education consists of EXIT Boot Camps and other specific industry approved classes. In addition to education, to earn the GUA, agents must complete a minimum number of closings prior to receiving the designation. The agent must also be in good standing with the Company, State Regulators, plus all local, state, and national Realtor® associations. Once enrolled, the agent has 24 months to meet the requirements for designation.

The designation program is available to all UpwardRealty.com sales agents at no charge. Agents with other companies may interview for sales positions with the company and if accepted may pursue the designation. Or see career opportunities here.

For more information about UpwardRealty.com or Upward Academy, please call 423-847-8001. UpwardRealty.com is located at 6726 Hixson Pike, Hixson, TN 37343. Or click here.

Chattanooga's Stimulus Package is VW

Those who know me have heard me say "As goes housing, so goes the economy." Which means that when the local housing market is healthy, the local economy is healthy. Those of you who share this belief with me, were probably disappointed not to see more housing in the "stimulus bill" that passed in Washington this week.

There was a $15,000 tax credit in this stimulus bill at one time, a credit that anyone could use if they just purchased a home for their personal residence. With all the back and forth between the polical interests and Senate and House, that provision disappeared from the final bill. Too bad, it would have helped immediately. Maybe it will come back soon in a housing stimulus bill.

But keep this in mind, people need jobs to buy houses. In Chattanooga, we are eager to see the 2000 new jobs promised by the $1 billion VW plant, but the real excitement should be for the 9,000+ new jobs that the VW suppliers will bring to the region. That means new jobs, which means housing gets healthier in the whole area.

In an article in Automotive News magazine on February 2, 2009 there is a discussion about these new employment opportunities in our area. The article talks about automotive suppliers expectations for the future. This is good news for the local economy. VW and their suppliers are in essence a "stimulus" program for all of us who live and work in this area. Thanks to the Chattanooga Area Chamber of Commerce, you can Click here to read the article.

Chattanooga is patiently and positively waiting with excitement.

Bargain Hunters - THIS is your real estate market!

Everyone loves a deal, but some folks only want a great deal! If you are one of those investors or homebuyers that want the deal of a lifetime, then you should be alert to the current real estate market. Here are the simple reasons.

1. Low prices - most sellers (if they still are in the market) have learned that the prices of two years ago are not possible to get today. So prices have moderated some, as much as 10-40% lower than in 2006-7 in some markets.


2. Low mortgage rates - interest rates are low, some 30 year rates below 5% do exist. AND, lenders DO have money to lend. FHA and VA are the most popular programs being used by the majority of buyers and they are having no problem finding money if their credit scores are good.


3. Great selection - in many markets Realtors® are reporting as much as 10-12 months of inventory. That means buyers can find the house they really want in most markets.


4. No competition - the days of multiple offers with buyers bidding up prices to amounts higher than listing prices are gone for the time being. Only in a very limited number of markets are buyers facing any competition at all. So sellers are having to negotiate.


5. Great move-up opportunities - Seller may take a hit on their current home, but (due to reasons 1-4 above) most sellers are more than making up the difference on their new home. They are realizing that if they move up now, they can take advantage of lower prices on their dream home. And with lower interest rates they can keep saving for many years with lower than normal house payments.

So if you are bargain hunter, we need to be talking RIGHT NOW, before the market shifts. Just a small increase in mortgage rates can cost you thousands of dollars over the life a typical home loan.

Your Action Plan: Check out my company or my personal website and contact me for a confidential review of your market readiness. Or just drop me an e-mail at Info@UpwardRealty.com. You enjoy saving money and I enjoy helping people save money, so lets have some fun.

© 2009 UpwardRealty.com

Chattanooga Foreclosures

If you have an interest in buying foreclosures in the Chattanooga, Tennessee or surrounding areas, I have a service for you. Each week my company prepares a list of the foreclosures available in the City of Chattanooga, the surrounding counties of Southeast Tennessee, and Northwest Georgia. The list is designed to be sent to local investers by e-mail.

If you would like to receive this list, please send an e-mail to foreclosures@UpwardRealty.com and include your e-mail address and your first name. We will send you an e-mail that will include the current list with information about each property for sale, including the address, some home features, and the asking price. You can then check out the ones that are of interest to you. Once you narrow the list to the homes you might want to buy, contact me for a private viewing.

As you prepare to take advantage of the deals currently available in our local market, you need to line up your funds or needed financing. Some of these properties will require repairs ranging from minor cosmetic fixes up to major structural needs. Unless you are a contractor or at least experienced in home repairs, you should also line up contractors in advance who can assist you with your property evaluations.

These houses also make great investments as your personal home and often are eligible for FHA/VA loans or first time home buyer programs. FHA even has a loan program that allows you to borrow repair money for homes that are not quite perfect. Ask you lender about FHA 203K financing. Don't be discouraged by the news reports, there is mortgage money available in the market right now!

The market has a more than ample supply of distressed properties right now, so there are some bargains to be had. Just start by getting the list at foreclosures@UpwardRealty.com.

You can also search the current HUD Homes listings here.

© 2008 UpwardRealty.com

A House is Not a Piggy Bank!

In our country, we refer to owning a home as the "Great American Dream." But do most Americans still feel that is true? The current market says "no" because many dreams are available at very reasonable prices with great financing and buyers are not buying them.

If owning a home is OUR dream, then we should be doing everything possible to obtain that dream right now. We absolutely may never see another market like we presently are experiencing. Perhaps our logic has been skewed by a changing thought processes in recent years. With all the "get rich quick" shows about making our fortune by flipping houses, maybe many Americans now look at a home like a savings account. Expecting our homes to make us independently wealthy has caused us to lose our "American Dream" mentality and we have become a bit greedy.

When we hear our home may be worth 10-25% less today than two years ago, we tend to become afraid. Much like we do when we see our 401k statement has gone down. The right logic we should use here is that unless we need to sell our home right now, it really doesn't matter what someone else thinks our home is worth. It is still our home! We should have bought the home to have a safe haven for our family, a place to go when the world outside is not so pleasant. What price can we put on such feelings? What does the ideas of a talking head on TV have to do with the true value of our home?

When we want to remodel the kitchen or paint the living room or change the carpet in the den, that should not be a decision we weigh financially. However, more and more we seem to evaluate "home improvements" as investments that should have an expected return on investment. If we want (or need) a new stove, we should think about features for using it for family lunch on Sunday or baking the turkey for Thanksgiving - not getting our money back when we sell the house someday.

Our "investment" mentality has caused us to be afraid of pursuing our "Great American Dream" because if our house is just a Piggy Bank, then we need to make a cold, well calculated, buying decision based on some investment formula.

However, if it truly is a dream - then we should buy our family a home. Live there for the next 20 years, have babies, get a dog, grow some flowers, plant a tree, and build some memories. We don't write poetry, tell sappy stories, and create emotional attachments to honor our investments. Or do we?

© 2008 UpwardRealty.com

Down Payment Assistance Disappearing

For years, there have been programs that buyers with no savings could use to buy a house with cooperation from the seller. These programs allowed the seller to pay the money into a charitible organization and then the money would be used to assist the buyer with closing costs and down payment funds needed to close the sale.

These programs had names like Nehemiah, Quickdown, AmeriDream, etc. and owners would have to sign a couple of extra forms during the underwriting of the loan. Then needed funds would go from the owner's side of the closing statement to one of these organizations and then back to the buyer's side as funding assistance.

At present these programs are still available and work great with FHA financing, but you are running out of time very quickly. Some lenders are saying they need the loan in underwriting before the deadline - others are saying they will only do these if the loan closes by September 30, 2008. Either way, there is no time to spare. So you better find a house fast, if you need such assistance.

Effective October 1, 2008 all of these programs will disappear. They are going, going, and will soon be gone.

© 2008 UpwardRealty.com