What Your Lender Will need From you to qualify for a Loan

Ten Things a Lender Needs from You
1. W-2 forms or business tax return forms if your self-employed for the last two or three years for every person signing the loan.
2. Copies of one or more months of pay stubs for every person signing the loan.
3. Copies of two to four months of bank or credit union statements for both checking and savings accounts.
4. Copies of personal tax forms for the last two to three years.
5. Copies of brokerage account statements for two to four months, as well as a list of any other major assets of value, e.g., a boat, RV, or stocks or bonds not held in a brokerage account. .
6. Copies of your most recent 401(k) or other retirement account statement.
7. Documentation to verify additional income, such as child support, pension, etc.
8. Account numbers of all your credit cards and the amounts of any outstanding balances
9. Lender, loan number, and amount owed on other installment loans—student loans, car loans, etc.
10. Addresses where you lived for the last five to seven years.

Let's Go Shopping

On top of the $8,000 Tax Credit……….

Georgia Governor Sonny Perdue passed an additional tax credit for Georgia residents!!!!

Here is the deal:

House Bill 261 gives a credit of either $1,800 or 1.2 percent of the purchase price, whichever is less. (You can only claim one-third of the credit each year, beginning with your 2009 Georgia tax return.) The purpose of the bill is to create a stimulus for home sales, and give a boost to the Georgia real estate market.
Here is how the Georgia Homebuyer Tax Credit applies to home purchases:
• Applies to single-family homes and condos if they are your primary residence
• The property must have been for sale prior to May 11, 2009 and must still be for sale
• The property must be in default on or before March 1, 2009
• The property has already been foreclosed on and is held by the bank or mortgage company
Homes purchased between June 1 and November 30, 2009 that meet the criteria will be eligible for the tax credit.
The new Georgia Homebuyer tax credit makes it an amazing opportunity when combined with the Federal $8,000 Tax credit.
Let’s Go Shopping for that perfect home in this perfect home-buying market!!


Here is the exact bill :
http://www.legis.state.ga.us/legis/2009_10/fulltext/hb261.htm

Real Estate in Cumming and Alpharetta, Ga.

Major Price Reduction on 360 Fairpointe Place in Suwanee, Ga!

Spectacular Townhome in Smyrna! -$156,000!!!!

Awsome 4 bed 2 1/2 bath home In Suwanee! $232,000!

Buyer's Market = Trade up your home market

I love this graphic from the Keller Williams "SHIFT" BOOK. It proves that if you have to sell now and need to move and buy another home, even if you lose money on the selling side, you will more than make it up on the other end!... Since we are in this "Buyer's" Market. What a great time to Buy! What are you waiting for???

The Rental Market Return

Lately, I have been fortunate enough to go on many different listing appointments and I finding that everyone is in the same position. They purchased their home for $10,000, $20,000 and even $50,000 more than what the home is worth now. But guess what, they need to move or have lost a job,etc. I am not in the business of listing homes. I am in the business of SELLING homes. I do not think it is fair to the owner of a home if I just stick a sign in their yard if I don't think it has a chance in selling. SO what a lot of my sellers are doing right now is putting the home on the market for sale and for rent. Most all of them really just need to cover their mortgage or even just get most of it covered by a tenant. A few years ago, the rental market was pretty slow, but I have seen a major increase in rental listings. Also,I work with a great property management company that can help my sellers keep their tenants in check and make sure they are taking care of the home once they are in it! What a great way to SHIFT with the market and see the opportunity within it.

The Real Estate Market is ever-changing!!