Saturday we took a ride on the Sopchoppy River and Sunday headed to Dog Island .

Talk about Beauty,take a look.

Mike Ferrie

PrimeSouth Properties

We
had our first big shower yesterday and boy did we ever need it.

The
pollen has now been washed away for a while and folks will be able to breathe
easier enjoying the outdoors.

This is the time of year that gets people outdoors
working in their yards. When working in the
outdoors make sure to wear protective clothing and sprays that keep those nasty
bugs and Mosquitoes away from you. The most important thing is to enjoy the
great outdoors and also again as I have said in the past Tallahassee has so much
to offer at no price.

Have a safe spring and we will see you in
May.

Click here to read more from our April Newsletter

Are you HARP 2.0 eligible?
The Home Affordability Refinance Program (HARP) is part of President
Obama’s Making Home Affordable program. The Program is also known
by the name of Homeowner Affordability and Stability Plan (HASP). The
purpose of this program is to provide relief to homeowners who are unable
to refinance due to declining values of real estate
Homeowners with either a Fannie Mae or Freddie Mac mortgage that was
delivered prior to 5/31/2009 are eligible and the Loan to Value is
UNLIMITED.
These are first mortgage refinances only – it will not allow including in the
payoff of a HELOC or second mortgage. Those have a subordination
requirement.
Most of these loans do not require an appraisal, if there is a reliable AVM
(automated valuation model) for the area.
This program has been extended until December 31, 2013. If you have not
taken advantage of this program, you need to do so now. Rates are on the
way back up.
If you have a Wells Fargo Mortgage please call me, if you have a Fannie
Mae mortgage with another lender, Wells Fargo can still assist you.
Homeowners with Freddie Mae mortgages – Wells Fargo will have a
program to assist you 3rd or 4th quarter this year.
Call me if you have any questions.
Janyce Horton
NMLSR ID 450446
Wells Fargo Home Mortgage
Office 850-320-1095
Cell 850-591-4979
Janyce.horton@wellsfargo.com

Get those Buyers off the fence.

April Fool’s Day has added significance for homebuyers using FHA financing.  There are a number of changes that take effect on 4/1/2012.  Buyers would be foolish not to enter into contract in March and get to their lender (preferably us) quickly to have FHA case numbers ordered prior to this date.

Here are some of the changes:

MIP increases – Up front MIP is increasing from 1% currently to 1.75% (this can still be financed).

Annual MIP (monthly portion) is increasing .1% per year.  (e.g. for a 30 year, 96.5% loan to value loan the annual MIP will be increasing from 1.15% to 1.25%)   For a $100,000 base loan amount, these two changes will cost the borrower an added $11.81 per month.

Other changes include:

Self Employed Borrowers – P&L and Balance Sheets will be required

Disputed accounts or Collections/Judgments:

·       If a borrower has singular or cumulative disputed accounts and/or collections that are >$1,000, the accounts MUST be resolved.

·       Resolved = paid in full OR payment arrangements with a minimum of 3 months verified on time payments.  Payment arrangements must be included in the borrowers ratios.  Must provide documentation showing the payment arrangements have been set up with the creditor and paid on time such as bank statements or cancelled checks.

·       If the borrower has accounts >$1,000  as a result of Identity Theft, they must provide a copy of the police report and other satisfactory documentation supporting the identity theft and then these accounts will not need to be paid or counted in their ratios.

·       Judgments need to be paid in full UNLESS the borrower has set up satisfactory payment agreements with the creditor and has paid a minimum of 3 on time payments

·       The borrower CANNOT pay down collections/judgments or disputed accounts to under $1,000 to avoid having to pay them off or make payment arrangements

Identity of Interest – Added definition of a family member now includes:  step children, step siblings, aunt uncle, step grandparents.

Call or email us for additional information that could save your buyers money and make you a hero in their eyes!

Jay, Ralstin, Hancock Bank, 850.325.3159 -Office or 850.509.1154-Cell

Rates and payments are based on loan amounts of $150,000.  Conventional programs are assuming an 80% loan to value, however higher loan to value options (up to 95%) are available, with private mortgage insurance, to qualified borrowers.   Adjustable rate mortgage options are not published due to APR calculation complexity but pricing of these products is available upon request

4 bedroom 2 bath just under 1900 Square feet,. Engineered floors,Granite Counters and Much more.

Choose you selections Now for only $239,990

Call me today   Mike Ferrie, REALTOR 850.566.8373

The Tallahassee Real Estate market is still in a buyer’s mode. We are however seeing more people out looking for property. I feel that people are now realizing if they want to buy verses paying rent, which now is the best opportunity to take advantage of all the savings.

For the last year or so the pricing structure is fantastic and the rates are under 4%. If you calculate that out your mortgage payment would probably be less than what you are paying in rent.

I don’t know what more you can ask for if you are holding out for a better buy, it may all change if you wait too long.

Contact me today so we can look into the best opportunity for you and your family.

Mike Ferrie

PrimeSouth Properties

850-566-8373