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479 Mount Fair Drive, Watertown, CT For Sale

Let me be the first to welcome you to 479 Mount Fair Drive in our desirable neighborhood in Watertown CT.

479 Mt Fair Farm DrFormal living room and dining room, large country kitchen leads  to large deck with mountain views. Family room with wood-burning fireplace and vaulted ceilings. 3 BRs including master Suite. Finished lower level for office or exercise/play area. Hardwood, carpet and tile floors. 2 car garage. Private back yard.

I live down the street and around the corner from this Bright and airy colonial and welcome the opportunity to help make this house your home.

pre-approval 2Call Me at 860.945.9284 to discuss the right mortgage option for your family and to take advantage of my  FREE Jump Start Mortgage Pre-Approval service service.

Then call Sue Holway at  Keller Williams to schedule a showing and be ready to make an offer.

Mortgage Process

First Home Buyer Tips They Don’t Teach You in School

You don’t learn about how to buy a house in school. They don’t teach you  what you need to apply for a mortgage, what kind of loan you’ll need, or what PMI is (it’s called private mortgage insurance)

And let’s not mention that you need to shop around for the best deal — or you can hire somebody to do that for you.

So here are some First Home Buyer Tips to help guide you through the home buying experience. 

♦  Have a conversation with your significant other about what you’re millenial 2looking for, what you need and what you can do without. Standing in the living room during an open house with your real estate agent isn’t the time to argue about wanting three bedrooms instead of four.
♦  Know your financial records. What’s your credit score? How much Low Monthly Paymentsoutstanding debt do you have? What monthly payment can you afford?
How much money did you make last year? You’re going to need to know all of this information. Have all of your paperwork ready to go.
♦  Know your limit — if you can’t afford a $450,000 house, don’t go look at $450,000 houses.
♦  Shop around. There are dozens of real estate agents, attorneys, and mortgage officers so don’t settle. These people are going to work for you, their job is to make you happy. You’re going to be on the phone and meeting with them frequently, so make sure you like who you’re working with.
♦  Do your research. When you do decide on a real estate agent, he or she isGet Pre-Approved going to want to know what your price range is, what neighborhoods you’re interested in, if you want to be close to schools, expressways, public transportation, etc. Know what you want and Get Pre-Approved! 

♦ This is the big one you’ll be glad someone told you about.
Don’t get too attached to a house, because if it the deal doesn’t work out, for whatever reason, you’re going to be devastated.
♦  Be willing to negotiate, it’s a big part of the game.
♦  This goes hand-in-hand with negotiating: put your foot down and don’t let anyone take advantage of you. If the seller is asking for way more than you’re told the house is worth, or if they’re not willing to fix something that is broken or at least negotiate the cost, you have to be ready to walk open houseaway. There will be more houses, trust me.
♦  Don’t just purchase a house by its listing. Go look at EVERYTHING. A lot of houses look different in person than they do on-line, good and bad.

First Home BuyerI have the belief that anyone that deserves to own a home should be able to do so. The American Dream is still attainable for those buyers who do their homework, establish a game plan and work hard to achieve that goal. I’m here to help.


Mortgage Process

Waitng Period Following Significant Derogatory Credit Event

The presence of a Significant Derogatory Credit Event on a borrower’s credit report is represents a significantly higher level of default risk to any mortgage lender.

Examples of Significant Derogatory Credit Events include:
♦  Bankruptciesforeclosure
♦  Foreclosures
♦  Short Sales
♦  Deed-in-Lieu of Foreclosure
♦  Mortgage Loan Charge-Off

With the Spring 2016 Home Buying season upon us, I’ve been getting calls from prospective buyers and their realtors asking how long they  have to wait after one of these Significant Derogatory Credit Events before they could even consider buying a new house. They are called Boomerang Buyers. 

Personally, I hate the term. Boomerang Buyers are former home owners boomerang buyerwho lost their home as result of the real estate crash and economic recession we experienced in recent years. These new clients have already been home owners; they appreciate the freedom and feeling of self-worth in owning their own home; they understand the process; and they are motivated.

So … Can I help? It depends. This is the waiting period or Seasoning before one can consider buying a new home following any one of these Significant Derogatory Credit Event:

Conventional Loans – 7 years
FHA – 3 years
USDA – 3 years
VA – 2 years

Chapter 7 or 11 – 4 years
Chapter 13 – 2 years from discharge or 4 years from dismissal
Multiple Bankruptcies within 7 years – 5 years
FHA – 2 years
USDA – 3 years
VA – 2 years 

Conventional – 4 years
FHA – 3 years
USDA – 3 years
VA – 2 years

confusedFamilies in this predicament may be ashamed, frightened that they will never be able to own a home again, and wonder who will ever give them a mortgage again…the list of feelings is endless.
If you know anyone in this kind of situation, send them my way. I‘m here to help.