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Staging no no

Caroline Ashe Your Source in Augusta, GA Real Estate April 3rd, 2013

Staging has become a must-do in the real estate world. Most people can do it themselves with a little research online and a decorating-savy friend or two. Here are a few quick staging dos and don’ts:

Staging Dos:

  • Declutter the refrigerator
  • Remove all non-essential items from counters in the kitchen and baths
  • Use the rule of 3 when decorating bookcases. 3 items per shelve no les no more
  • Reduce the amount of family photos and collections
  • Freshen outside mulch and remove dead plants

Staging Don’ts

  • Don’t leave dirty dishes in the sink for showing
  • Don’t have blown light bulbs
  • Don’t list your home without having a deep cleaning done including furniture and drapes
  • Don’t have full gutters
  • Don’t have bright colors wall paint, neutralize the paint colors
  • Don’t have a cluttered garage or attic/storage spaces

I witnessed this staging no no while previewing a home yesterday! BONUS TIP: remove all empty hangers from closet. Closet will feel more organized and lack of storage won’t be an issue.

Need a Staging eye? I can help! Find Caroline Online or email caroline@carolineashe.com

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New FHA Mortgage Increase

Caroline Ashe Your Source in Augusta, GA Real Estate March 28th, 2013

If you are a lender, a realtor or a buyer you have heard about the new FHA Loan increases for the loan’s PMI or private mortgage insurance. These new FHA loan increases begin April 1, 2013 so get ready, prepared and know the facts. Below I have added a few slides from a presentation I attended at Augusta Mortgage. Good stuff!

In straight talk the PMI on an FHA mortgage will be increased by 10 basis points on the annual premium term. What does that mean? I don’t really know because I leave that to the loan officers, but on a $100,000 sales price with a loan amount of $96,500 ($100,000 minus 3.5% down payment) the increase in payment is $7.97 per month which equals 2 less stops at Starbucks a month! Small price to pay for the American Dream.

I’ve been asked the questions WHY? is this happening… In order for the FHA mortgage to be available there must be so much capital in reserve, per the government policy. Well the FHA is in the negative and needs to raise money to keep the most affordable home loan on the market available to eager buyers looking to purchase a home! FHA mortgage requires the smallest down payment (3.5%) and is not as strict on credit scores. FHA loans are good for buyers, sellers and the general economy, as we’ve all seen how important the housing market plays in the overall health of our economy.

New FHA Mortgage Increase

New FHA Mortgage Increase

  

New FHA Mortgage Increase

The other BIG change is the length of time the annual mortgage insurance premium is collected on FHA mortgages. In the past after your FHA loan reached a loan to value of 78% or less the mortgage insurance would drop off and your monthly payment would decrease. Well…say bye bye to that with this new change that takes effect June 3, 2013.  For most FHA buyers, in my opinion, this will not have that much effect seeing as most buyers move every 5-10 years on average. The time for the loan-to-value to reach 78% or less is approx. 5 years. The change to remember is if you only have a down payment of 10% or less the mortgage insurance will be on the FHA loan for the life of the loan term. See the illustration below for explanation of 15 and 30 year mortgage terms.

New FHA Mortgage Increase

New FHA Mortgage Increase

 

Questions, comments, complaints? Connect with Caroline Ashe online at www.CarolineAshe.com or call 706-589-1360

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Reasons to Buy a Home

Caroline Ashe Your Source in Augusta, GA Real Estate February 22nd, 2013

Reasons to Buy a Home in 2012

The National Association of Realtors released the top reasons to buy a home. The below graph shows that the top reason to buy is  the desire to own my own home. This is for first-time buyers and resale home buyers. The American dream is alive a well!

Reasons to buy a home

Reasons to buy a home

 

Looking to buy or sell in 2013, let Caroline Ashe guide you! Connect with her online at

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Find Your Dream Home?

Caroline Ashe Your Source in Augusta, GA Real Estate February 10th, 2013

Dream Homes….

The term dream home can have many different meanings. You could want the finest of finishes and details or maybe a large area of land or you might crave a room with a view. Your dream home could be a little mountain cabin for two…secretly that’s mine! Dream homes can come in all shapes and sizes, but one thing is the same no matter who is dreaming them up, the house must be a “home.” A place where you retreat after a long day, a yard where there are endless hours of playing catch or just relaxing under the sweeping pines. It’s not the dream part that’s so important it’s what make’s it home so special.

Ponder that when you are dreaming of a new home. Look at your family and find a home that everyone will enjoy and make their special dream home.

Need help discovering your dream home in the Augusta, GA Area? Connect with Caroline Ashe today, she’s an expert! Start your Dream Home Search HERE! (homes $800k+)

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Average Home Prices in Augusta GA

Caroline Ashe Your Source in Augusta, GA Real Estate January 17th, 2013

Average Home Prices in Augusta, GA

Columbia County Georgia

  • Existing Homes (Resale) – $186,080
  • New Homes – $221,150

Richmond County Georgia

  • Existing Homes (Resale) – $89,200
  • New Homes – $173,731

Fine Print: These figures are for YTD 2012. All information obtained from the Greater Augusta MLS. Information is deemed to be accurate but not warranted.

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Interest Rate for a Jumbo Loan Today

Caroline Ashe Your Source in Augusta, GA Real Estate December 17th, 2012

Interest Rate for a Jumbo Loan Today

Jumbo loans are making a come back and we are seeing positve movement in today’s real estate market.  Home sellers  are becoming home buyers because the lagging sale of their current homes are finally making it to the closing table!  The inventory levels in Augusta, GA  for example saw great improvement in 2012 and the outlook for 2013 is even better.

Jumbo loans were out of reach for even the most qualified buyers for a number of years from the fact that investors just were not buying jumbo loans. The interest rate were so high, that unless you had enough liquid assets to get the loan amount to $417,000, it just wasn’t worth it. The higher end market became sluggish and a much harder sell.

With the easing of the Jumbo Loan market and the positive activity in today’s real estate market the larger loan amounts are in reach.  Buyers are buying larger, more expensive homes and utilizing jumbo loans. A jumbo loan is a loan over the conforming amount of $417,000. If a buyer requires a mortgage over $417,000 then the buyer should expect to have an interest rate of 1% higher than the current conventional interest rate. Jumbo loans would also require the qualified buyer to have an minimum down payment of 20%.

Quick Jumbo Loan Home Search

 Richmond County GA Homes $400,000+

Columbia County GA Homes $400,000+

Aiken County SC Homes $400,000+

A special thanks to Kevin McDougal of Augusta Mortgage for providing some of the information for this blog post. Looking for a fantastic local Augusta GA lender? Call Kevin at 706-513-4682 or kmcdougal@augustamortgage.com. Kevin is licensed in GA and SC.

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