SELLERS INFO

Paramount marketing and
 full service with Kym Flaigg!

Marketing is even more important in a today’s market. Kym has a marketing plan, specialized for your home including:

• Local and Bay area marketing

• Internet and Print Marketing

• Established local and Bay Area network

• Full time staff supporting you from listing until after the sale

• Assistance in relocation

For details on your marketing plan, contact Kym.

Preparing your Home for
today’s Market

Preparing your home for sale can seem like a major undertaking. But it doesn’t need to be. Some simple tips as well as prioritizing your plan to your personal home can not only relieve the stress but also make a huge difference in the amount of time and money spent on preparing your home. For details and ideas, visit the link below or contact Kym for your personal home sale preparation booklet.

Short Sales, Short Payoffs
and Loan Modifications.

Navigating the Short Sale
Today more than ever, banks are willing to work with seller’s in selling their homes to avoid foreclosure. Often the term “Short Sale” is used to describe a sale of your home in which the sale price is lower than the amount owed on the loan. The process can be arduous, and timely, but the end result is a sold home, relief from high payments and possibly, under recent legislation, no tax consequences.  Talk with Kym  about the strategies and necessary documentation to begin this process.

Loan Modification -
A Great Alternative

If you are interested in refinancing, something to consider is the newest to the lending market: loan modification. To qualify a borrower must meet at least one of the following criteria:

1. High Loan-to-Value (90% or higher).

2. Bad credit due to late payments on credit cards, mortgage, medical bills, etc.

3. Adjustable Rate (that has or will change in the future)

4. Option Arm or pick-a-pay loan.

5. Temporary or permanent financial hardship (i.e. job loss, medical emergency, divorce, income reduction, etc.)

6. High Debt to Net Income Ratio

If you believe you may qualify and are interested in seeing if you actually do contact me direct and I will get you started and give you more details.
 
 

$7,500 First Time Buyer Credit
 (still avail through Jun 30)

The “first-time home buyer credit” is a temporary refundable, repayable tax credit equal to 10% of the purchase price of a home, up to $7,500 for singles and married couples filing jointly. (Singles who buy a house together get only $3,750 each, as do married couples filing their tax returns separately.)

Be aware it is actually an interest-free loan. Two years after you claim this credit, you are required to begin payback over 15 years in 15 equal installments–an extra $500 on your tax return each year. Sell your house, and you have to pay the rest back that year from your profits. (No profits, no pay back.

If you die, heirs are off the hook.) The allowed credit starts being reduced once a single has $75,000 of modified adjusted gross income, or once a couple has $150,000 of income. The credit goes away entirely at $95,000 for singles and $170,000 for couples.

What is the definition of a first-time home buyer?

The law defines "first-time home buyer" as a buyer who has not owned a principal residence during the three-year period prior to the purchase. For married taxpayers, the law tests the homeownership history of both the home buyer and his/her spouse.

For example, if you have not owned a home in the past three years but your spouse has owned a principal residence, neither you nor your spouse qualifies for the first-time home buyer tax credit. Ownership of a vacation home or rental property not used as a principal residence does not disqualify a buyer as a first-time home buyer.
 
THE FULL DETAILS:

Loan Pre-Qualification verses
Loan Approval

In today’s market, more than ever, it is imperative that you prepare yourself for your purchase with a loan pre approval.

Pre-qualification is an informal discussion between a borrower and a lender, in which an assessment is provided by the loan officer, based solely upon the borrower’s answers to a series of loan-related questions.

Pre-approval is based upon an underwriting review of an actual loan application, as well as verification of income and assets, that allows a lender to issue a firm commitment to lend the amount requested, subject to locating an acceptable property. If you need assistance locating a lender to assist you in your purchase process, please email or call Kym for more details.