Anthony Joseph Real Estate LLC

Posted by Anthony Joseph Real Estate LLC on 2/28/2018

You may see homes listed as in a search for a home that are denoted as a “Homepath property.” You may wonder what this means and if you’re even eligible to buy the property. It is a specialized program, so you’ll want to be informed on what it means to use it and what the process is. 

Fannie Mae Programs

What was formerly known as a Homepath property is now known as The Home Ready Mortgage by Fannie Mae. With the Homepath program, people are able to find and purchase homes with a bit more ease and less financial risk. If you’re buying your first home, this could be the perfect way to get it. This program offers a list of foreclosed properties with really good deals on them. Repeat buyers can also find some great deals through this program, so it has something for everyone. It has so many benefits for anyone who is looking to buy a home.     

How To Get A Homepath Property

Fanie Mae does require that you place a bid through a realtor. The program is designed for buyers to better understand the risks with buying foreclosed homes, while giving them a better opportunity to purchase a foreclosed home. Since foreclosed homes are sold as-is, there’s a risk that the home actually has some serious damage that needs to be repaired at a high cost. This is where a realtor comes in, as they can help buyers to understand ho much work a property may need and the exact risks involved.  

Low Down Payment

  Even if a home through the Homepath program requires extensive repairs, it’s not an opportunity that you should should shoot down right away. Unlike traditional mortgages where you’ll typically need 20% down to purchase, Fannie Mae only requires that buyers place as little as 3% down. This means that with the low cost of the available homes and the small down payment required, buyers can save thousands of dollars in total. Of course, this savings can help buyers to make the required repairs to the home. 

Eligibility Requirements

There’s not many stringent requirements to be eligible to buy a Homepath property. Most people actually can be found to be eligible for these purchases. The biggest requirement is that before buyers reach the closing table, they’ll need to take an education course. This allows buyers to get assistance with the closing costs.  

Learn More About Homepath

If you’re looking to buy a home at a low cost, you should definitely talk to your realtor about the Homepath program. They can also explain more about specific eligibility requirements. It’s easy to make use of this program, so start saving right now and search for a Homepath property.

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Posted by Anthony Joseph Real Estate LLC on 2/14/2018

If this is your first time buying a home, you might be worried that you aren’t asking enough questions. Or maybe you’re concerned you’re not asking the right questions--the things that matter the most when making a financial decision as important and life-changing as buying a home.  

While everyone’s situation is unique when buying a home, there are some questions that all buyers could benefit from asking. These questions will help you learn more about the home, how competitive the house is, and how much work you’ll need to put into it.

Since time is usually of the essence for people buying a home, it makes sense to ask questions early on so that you don’t waste too much time exploring an option that isn’t ideal for your situation.

In this article, we’re going to give you 5 important questions to ask when you talk to a seller and their agent so that you can be prepared to make the best decision for you or your family.

1. How flexible is the asking price?

While few sellers or agents will outright tell you if they’d accept a lower offer, it’s still a good idea to ask this question, as it will open up a conversation about the seller’s feelings toward the home and whether they’re pricing high with the hopes of receiving slightly lower offers.

2. How many offers has the home received?

It may seem counterintuitive, but most agents and sellers will be quite happy to tell you if they’ve received other offers. They know that once you know the current offer you’ll have to either come up with a higher offer or move on. It’s a win-win for you and the seller, as it equips both of you with information you need to make the best choice.

3. Why are the sellers moving away?

This question can be personal, so if you receive an answer that suggests it’s a family matter, don’t press for too many details. However, some sellers and agents will let you know exactly why the house is for sale. From this simple question, you can learn the seller’s timeline for making the sale, details about the schools or neighborhoods, and any other reason that might drive someone to move out of the neighborhood.

4. Are there any problems with the house that you know of?

Although you’ll have an inspection contingency in your contract if you do decide to make an offer on the home, it’s better to know if there are any issues with the home before going through the bidding process.

Most sellers understand this and will be upfront about any problems with the home, including repairs that need to be made now or will need to be made soon after you move in.

5. What is the average cost of utilities?

Buying a home comes with a lot of added costs and fees. However, many people forget about the changes in the cost of utilities that comes with buying a home--especially if you’re moving from an apartment where some utilities may have been included.

The seller will be able to give you a good estimate on the cost of electricity, garbage removal, internet, heat, and more.

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Posted by Anthony Joseph Real Estate LLC on 1/31/2018

For many of us, it can seem like our paychecks are gone before we even get a chance to see them. With seemingly endless bills and expenses, both recurring and unforeseen, saving up for a house is a daunting task.

Fortunately, there are ways you can prepare yourself for those intimidating down payments and many closing costs.

In this article, we’re going to walk you through how you can start saving for a home right this moment. After all, every day is another day you could be contributing to your savings and taking another step closer to owning your own home.

Use a Budgeting Tool

The first step to saving and determining how much you can save is to start budgeting. Many people hear the term “budget” and get nervous thinking they’ll have to start counting the number of coffees they buy. However, there are less anxiety-inducing ways to budget.

From your phone, tablet, or computer you have access to a large number of free budgeting tools. Mint, You Need a Budget (YNAB), and PocketGuard are three of the top budgeting tools that will get you started.

With apps that integrate with your bank accounts and loan balances,  there is little work required on your part. Just set an amount to save each week or month, and direct the funds into your savings account.

Set up a dedicated savings account

Speaking of savings accounts--now is a great time to set up a new one. It’s almost always free to open a new account with your bank. What’s more, it’s a lot less tempting to pull from a savings account when it’s labeled something like “HOUSE SAVINGS - DO NOT TOUCH.”

Once you have your budgeting app and bank account set up, it’s time to dig into some of the ways you can save money without skipping meals.

Cutting Monthly Expenses

Rather than telling yourself you can’t buy any more fancy Starbucks drinks anymore until you have a house (don’t torture yourself), make a list of all your monthly expenses. That can include anything from Netflix and Spotify to haircuts and car washes.

A great way to make this list is to go through your credit and debit card transactions. If you have autopay set up, you might not even realize how many services are withdrawing directly from your accounts each month.

For each item on your list, determine if you can either eliminate the expense or spend less on it. Maybe you go for the deluxe car war rather than the basic. Or, you might pay for services you don’t use as much as you used to.

If you’re worried about having no entertainment if you drop Hulu, Netflix, and Amazon Prime, you could try out your local library system. Most of the time you can have books, movies, and music shipped for free from all around your state.

When it comes to cable, cell phone plans, car insurance, and other monthly bills give your provider a call and tell them you’re thinking about switching over to a cheaper competitor. They’ll likely offer you a discounted rate. If they don’t, follow through on your promise and call other providers to see if you can get better rates.

Posted by Anthony Joseph Real Estate LLC on 1/3/2018

Are you a productive homebuyer? If not, you may miss out on an opportunity to acquire your dream residence.

A productive homebuyer understands the ins and outs of the real estate market. As such, this individual may be better equipped than others to purchase a top-notch residence at a budget-friendly price.

Ultimately, operating as a productive homebuyer may be easier than you think – here are three tips to ensure that you can become a productive homebuyer in no time at all.

1. Narrow Your Home Search

If you know what you want to find in a dream home, you can maximize the time and resources at your disposal.

For example, if you prefer a home in a big city, you can start searching for houses in the city of your choice. Or, if you enjoy the unparalleled serenity of small town life, you may want to focus exclusively on houses in various towns.

You also should consider your day-to-day activities as you kick off your home search. If you attend college classes every day, you may want to find a house close to school. Comparatively, if you regularly take the bus to work, you may want to consider homes that provide quick, easy access to public transportation.

2. Establish a Price Range

Although you know that you want to buy a home, you may have no idea what it will cost to obtain your dream home. However, if you enter the housing market with a home price range in hand, you can quickly and effortlessly navigate the homebuying process.

Meet with banks and credit unions in your area. That way, you can learn about myriad home financing options and choose a mortgage that complements your finances.

Don't forget to ask bank and credit union professionals for mortgage recommendations and suggestions as well. These mortgage specialists are happy to teach you about many mortgage options and ensure that you can make an informed home financing decision.

3. Work with a Real Estate Agent

A real estate agent is a homebuying expert who will do everything possible to help you optimize your productivity. If you collaborate with a real estate agent throughout the homebuying process, you can increase the likelihood of getting the best possible results.

A real estate agent will set up home showings, negotiate with a home seller's agent on your behalf and help you get the best price on a home. By doing so, this housing market professional will ensure that you can enjoy a seamless homebuying experience.

Let's not forget about the advanced housing market knowledge that a real estate agent possesses, either. A real estate agent understands the challenges of buying a home and will help you identify and overcome these difficulties. He or she will even answer any homebuying questions, at any time.

Become a productive homebuyer today – use the aforementioned tips, and you can maximize your productivity as a homebuyer and reap the benefits of a quick, efficient homebuying journey.

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Posted by Anthony Joseph Real Estate LLC on 12/27/2017

Moving is stressful. You have to worry about cleaning out your old home, preparing your new one and all of the logistical headaches that come with it. If that weren't enough, you still have to balance your work and family life with the demands of moving into a new home. With all of those factors taken into account, it's easy to make mistakes on moving day. Today, we'll cover five of the most common mistakes people make while moving to a new home and how to avoid them.

1. Thinking you don't need help

None of us want to burden our friends or our wallets for moving. But unless all of your belongings fit in a suitcase and you're moving to a furnished apartment you're going to need some help. Whether it's friends, family, or professional movers, make sure you have enough people to help you with the moving process. Don't worry, you can repay them with free food or a good tip accordingly.

2. Assuming your help is reliable

If you're counting on friends and family to help you move, check in with them a few days in advance to make sure they're still available. Give them details for the exact time and place they're needed. As a courtesy, order everyone pizza at the new house in exchange for their help. If you're hiring a mover, do some research before you commit to one. Read customer reviews and testimonials, make sure they have all required licensing, and so on. Call to confirm on the day before the move to make sure no mix-ups have been made.

3. Not taking traffic into account

If you and your movers are on a deadline, take traffic into account for your move. Do a test run along the moving route during the hours you'll be traveling to find out how long it will take. This will also help you plan out stops for gas if needed. Another good practice is to print out directions to the new home and give them to everyone who will be driving. This way you and your moving van know exactly which route to take.

4. Forgetting overnight necessities

Necessities like a tooth brush, deodorant, soap, and cell phone charger should be packed in a separate bag that stays with you. This way it won't get lost among your boxes and regardless of where you're sleeping that night you'll know where to find the important items you need.

5. Not planning for their pet

Moving your belongings is easy, but moving your pet will require extra planning. You'll have to ready your crate, pet food, toys, litter box or dog bags, and anything else your pet needs. You'll also need to look out for your pet during the move since doors will be opening and closing and they'll be in a new (potentially frightening) environment. If you can, have someone pet sit for you on moving day. If that isn't possible, keep the pet in an empty room with everything they need until you've settled in, checking up on them periodically.

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