Monthly Archives: January 2011

Wells Fargo to Accept FHA Mortgages with Credit Scores Under 600

In the Dayton, Ohio area Real Living Mortgage (a division of Wells Fargo Bank) is offering loans with a minimum 500 credit score! Contact Christina today for more details at Christina.Asad@RealLiving.com or by cell or text message at 937-205-4741.

Great info provided by a NJ based Realtor!

Via Anthony J. Gonzalez – Monmouth County Realtor (Better Homes Realty):

Wells Fargo announced that effective January 15, 2011, they now accept Federal Housing Administration (FHA) mortgages for borrowers with credit scores as low as 500. For borrowers with credit scores 500-579 a 10 percent down payment is required and the down payment may not be a gift or be part of a down payment assistance program. For borrowers with credit scores 580-599 a 5 percent down payment is required and the down payment may not be a gift or be part of a down payment assistance program. Borrowers with a credit score of 600 or higher are required to have a 3.5 percent down payment and a gift is acceptable. For all borrowers, seller concessions are limited to 3 percent.

Anthony J. Gonzalez

This Experience is about you…

My Listings

Broker Associate – Better Homes Realty

Circle of Excellence Sales Award – 2009

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Direct: 908-565-0457

Fax: 732-807-3946

Foreclosure Alternative – The Short Sale

  • Foreclosure Alternative: The Short Sale

    A short sale is far from hassle-free, but it’s a better alternative than foreclosure. And now you’ve got a little help from your friends in D.C. Here are the facts about short sales and how to get started. Read

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Copyright 2011 NATIONAL ASSOCIATION OF REALTORS®

5 Steps to Buying a Home After a Foreclosure

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Copyright 2011 NATIONAL ASSOCIATION OF REALTORS®

Save Energy and Money on Home Maintenance Costs

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Copyright 2011 NATIONAL ASSOCIATION OF REALTORS®

2010 Mortgage Roller Coaster

Ride the 2010 mortgage rate roller coaster and learn the prediction for mortgage rates in 2011.

Now is the time to buy! Buyers – don’t wait! When is the best time to sell? There are advantages to both the winter and summer months. More homes sell in the summer but in the winter there is less competition on the market.

Click below to play the 2010 Mortgage Roller Coaster video from www.TheMortgageRates.com

Thinking about moving in 2011? Contact Christina today!

Ohio December Market Report

The December Market Report in Ohio for single family, residential homes in Montgomery, Greene, and Warren counties near Wright Patterson Air Force Base shows MORE homes sold in December than November. The average sale price / listing price is 96%, which is 2% less than the Real Living Realty average (98%). The average days on market in December 2010 was 94, which is 13 days slower than the Real Living Realty average days on market (81). The statistics show that Real Living sells homes quicker and for more money, resulting in a faster sale for the sellers represented and more money in their pockets.

DECEMBER 2010

  • Homes Sold – 474
  • Average Bedrooms – 3
  • Average Square Footage – 1,863
  • Average Listing Price – $134,595
  • Average Selling Price – $128,632 (96% sale price/listing price)
  • Average Days on Market – 94 (13 days slower than the Real Living average days on market)
  • Homes Sold Price Range $4,700 (Upper Dayton View) – $1,100,000 (Kettering – W of 48)

NOVEMBER 2010

  • Homes Sold – 421
  • Average Bedrooms – 3
  • Average Square Footage – 1,782 
  • Average Listing Price – $130,377 
  • Average Selling Price – $122,535 (94% sale price/listing price)
  • Average Days on Market – 105 (24 days slower than the Real Living average days on market)
  • Homes Sold Price Range $2,800 (Upper Dayton View) – $705,000 (Washington Township – SW)

Average Days on Market

5 Reasons to Purchase a Home in 2011

5 reasons to consider becoming a homeowner in 2011:

  • Mortgage rates will remain low. Even with interest rates slowly rising, rates are still well below the 7% mark hit just 4 short years ago in 2007.
  • A homeowner can deduct points used to obtain a mortgage when buying a home, mortgage interest paid during the year, and property taxes.
  • It is a buyer’s market and there is a great selection of homes for sale.
  • LOW home prices.
  • Real estate is a great investment.
  • Easy access to hunt for homes available online, such as at http://www.DaytonOhioHouse.com