Friday, April 27, 2012

Quote For The Day

A wise man is superior to any insults which can be put upon him, and the best reply to unseemly behavior is patience and moderation.


Happy Aloha Friday, have a wonderful weekend!

Thursday, April 26, 2012

SBA 504 set to expire Sept 27, 2012 Have you refinanced your small business yet?

We are hoping Congress grants an extension of this commercial loan product.
The SBA 504 was established to offer small businesses access to long-term fixed asset financing at a low interest rate to encourage small business growth in our declining economy it was suppose to be temporary. However I would as well as many others in our industry like to see this loan product continue, we are not out of the woods yet.

The benefits to the business owner are savings with a lower interest rate but also if there is more than 10% equity they can get working capital for eligible business expenses. Growing our economy is crucial and small business growth is key to jobs. The 50 million in SBA504 loans as of Feb 2012 created over 2 million jobs. That is growth we need to continue. Here are some basic guidelines for qualifying.

  • Income restrictions due apply; net worth cannot be more than $15 million and average net income of $5 million or less after federal income taxes for the preceding two years from application
  • The small business must be occupied at least 51% of the property at the time of application
  • The property must have been acquired at least two years prior to application
  • The loan must be current and no late payment of 30 day or more in the last 12 months
  • Property is based on current appraised value
  • Up to 90% of current appraised value may be financed
  • No Nonprofits are allowed under this program

OR just call me!

Thank you for stopping by my blog, leave your comments and ideas they are welcomed and encouraged! Follow my blog by clicking on the follow this blog to your right.

Roxy Redenbaugh
ACMC Loan Consultant
Branch Manager
NMLS #269926

Tuesday, April 17, 2012

April is Fair Housing Month – Do you think that President Johnson would be happy to see how this Act of 1968 has changed our country or would he be disappointed that it hasn't done enough?

Did you know that President Johnson signed into law Title VIII of the Civil Rights Act of 1968, it is more commonly known as the Fair Housing Act. All this at the tail end of the Civil rights movement.
Although the Civil Rights Act of 1866 prohibited discrimination in housing there were no federal enforcement provisions in place. The 1968 act expanded on previous acts, concerning sale, rental and financing of housing based on race, religion and national origin, gender was added in 1974 and people with disabilities and families with children was added in 1988. 
 These laws are supposed to protect us from discrimination and give us a platform to fight against  discrimination should we experience it. We do have a right to live in any neighborhood, home or building of our choosing. It’s unfortunate we still live in a time where these laws are needed but they are needed. Too many of us still experience discrimination.

This month of April is time to celebrate the Fair Housing Act. It has done so much good and needs to be recognized as one of the truly great additions to American law. We have come a long way and we need to celebrate that but clearly acts of discrimination continue at an alarming rate in spite of these laws. You do have a place to go and fight discrimination. But is it enough? How do we change the social behavior that require these laws? Will it take another 43 years or maybe 100? How do you think?

Thank you for stopping by my blog, please take a minute to leave a comment or voice your opinion.
Don’t forget to follow my blog for future posts.

Roxy Redenbaugh
ACMC, Loan Consultant
Branch Manager
NMLS #269926

Friday, April 13, 2012

Quote For The Day

A true friend never gets in your way unless you happen to be going down.

Arnold H. Glasow

Thank you for stopping by my blog, have a wonderful weekend!


Thursday, April 12, 2012

Top 10 Tips for FSBO Buyers

In Real Estate a phase you learn quickly is Caveat emptor this is Latin for buyer beware. I am going to give you some very important tips that will help you when shopping for a home. Its nice to be able to take advantage of some of the great opportunities in the FSBO market or For Sale by Owner, in some cases these homes are listed below market value.  FSBO sellers typically are selling their home to save money on the Realtor fee which is typically 5% - 6% of the sell price of the home. In theory the FSBO home is priced lower to attract more buyers, but as always be careful and make sure you check values before you make an offer. Here’s some must do tips for any FSBO buyer to follow.

         1.   GET Qualified; This is step one regardless of who you buy your home from. YOU need to know the amount you can qualify to purchase. This will also let the FSBO seller know you are a serious buyer because you will be able to provide them with a letter stating you are qualified from your lender.

2.       Once you find a home get a CMA or Comparative Market Analysis, some Realtors even though they are not involved in the deal will assist you. If you cannot find a Realtor there are several online sources you can use to help you find comparative homes in the same neighborhood.

3.       Making an offer and contracts, you’ll want to have an attorney review your purchase contract, make sure you have everything you want in the contract down to the appliances and back yard BBQ if you want it, remember everything is negotiable including your close date. Give yourself time to get financing, inspections and always give yourself a way OUT of the contract should you change your mind due to anyone of the circumstances we just mentioned.

4.       As the buyer you get to choose the title/escrow company I encourage you to shop around as fees vary a lot. When you receive the Preliminary Report on the property make sure you review it carefully for any title issues.  If you don’t understand something ask your escrow officer to explain it, they are there to help you.

5.       Get permission from the seller to get a C.L.U.E. Report from this is a 7 year history of insurance claims on the property.

6.       Request the seller fill out a property disclosure form. This form should list any defects know to the seller on and up to a given date.

7.       Get a HOME inspection by someone of your choosing. I recommend you be present during this home inspection to go over it with the inspector. Most people don’t take advantage of this and it’s a missed opportunity in my opinion.

8.       Get a Termite Inspection. Even if the seller has one done already and has all the work done. Get another one by a company of your own choosing.

9.       Having your own Realtor even with a FSBO transaction… yes this is possible. Many FSBO sellers are willing to pay a negotiated percentage of the selling price to a real estate agent with a buyer. This means you, the buyer would be represented.

10.   Remember buying property alone is not for wimps so be diligent and do your homework.
Ask lots of questions and don’t take anything for granted, assume nothing or think anyone else is looking out for you. YOU’RE are on your own!

IF you don’t want to go it alone, get a Realtor… they will watch your back!

Thank you for stopping by my blog, I welcome your comments and ideas, please follow my blog if you are not already. 

Roxy Redenbaugh
ACMC, Loan Consultant
Branch Manager

Friday, April 6, 2012

Quote For The Day! Happy Easter!

God, our Creator, has stored within our minds and personalities, great potential strength and ability. Prayer helps us tap and develop these powers.

Abdul Kalam

Happy Easter!

Have a wonder Easter weekend and God Bless you and your family!

Tuesday, April 3, 2012

Tuesday's Saving Money Tip #19 This one could get you to Hawaii!

How much money do you think could be saved by taking your lunch to work? Maybe you already take your lunch most of the time but a few days a week you go out. Let’s conservatively say you spend $7 each time you go out and you do this twice a week. That’s $728 annually you could save by taking your lunch on those days too. Now if you are married double that $1456. Making your lunch cost pennies in comparison so just think of what your family could do with this extra savings.  That could be an extra mortgage payment at the end of the year saving you thousands in interest and will help you pay off your mortgage sooner or do something FUN like buy two ticket’s too Hawaii!! 
Just sayin!

Thanks for stopping by, your comments and ideas are always


Quote For The Day " this one is my own"

Being truthful to your child will go a long way in his/her growth, don’t give into dishing out nonsense and bullshit just because the question is difficult or embarrassing. When a child is young and their growing sense of observation is at its peak in the early years this is when to educate your child about life.  
Don’t miss the opportunity!

Roxy Redenbaugh

Monday, April 2, 2012

Top 10 Tips for the FSBO " For Sale By Owner"

1. Your Market; knowing your market is probably the most important aspect of preparing to sell your home. There are many different markets in our country even though our nation’s housing market is struggling in general. Some areas or neighborhoods are doing better than others and some are doing quite well. We are in a recovery status as a nation, hopefully that is reflective in your neighborhood.

2. Determined your home’s value;  you can do this by running a report on homes sold in your area that are familiar to your own home over the past 3 to 6 months.
You can check listings in your area. You can check websites like and for help in determining your value.  

3. Timing; this goes back to knowing your market and determining your value and knowing when is the best time to sell because a few months can make a world of difference in a fast changing market. If your area is declining, getting out quickly can be very important if you are to save any equity, you may have to wait for a  while in a recovering market to gain equity.

4. Having Professionals you can call on; Even though you want to do this task alone or without a Realtor you will need other professionals. Depending on your state you will need a Title/Escrow company and/or an Attorney. You may also want to consider an attorney to help you with your purchase contract or at the very least to review it before you and buyer enter into it. Getting the forms you need ahead of time and knowing what they contain is very important. You don’t want any surprises or questions when it comes time to sign your contracts and forms. US Legal

5. Preparing your home; this step is skipped by so many and is so important it should be at the top. We all have a tendency to have blinders on when it comes to our own home. The clutter seems to build mysterious without our knowledge. Well this is the time to take off the blinders even if you have to hire someone to help you. Your home may need a professional stager. But first clear out the junk, oh I mean clutter, if your livingroom looks like toys r us blew up, box all the toys up or move them to your child’s room and try to organize them neatly. Remove all personal photos from your walls and replace with artwork instead. You don’t want your buyers getting distracted looking at your pictures instead of your home.  Then once you’ve clear out the house now you have to KEEP IT CLEAN! Good Luck with that!
6. Qualified buyers; you want to make sure you are showing your home to qualified buyers, make sure when someone calls to make an appointment to see your home you ASK if they are qualified with a lender. If they are not you should refer them to your mortgage professional to get Pre-qualified so you know you are dealing with a qualified buyer. If they are then ask them to bring their letter of prequalification or fax it to you prior to meeting them.  The last thing you need to a bunch of looky lous wasting your time.

7. Advertising and Marketing; social media is a great place to start, a website or landing page with lots of pictures and videos of your home are all necessary. Using sites to market your home is also an important tool here some sites to take a look at HouseBuyersNetwork and Owners.

8. Open House; now you are ready to open your house to the public, advertising is in place, you’ve staged your home; you have your contracts and forms in hand and understand them. Take the kids and dogs/cats to your parents and show off your home. Hopefully you are a good negotiator and salesman/woman you will need to be. Buyers are tough!

9. Be prepared for extra costs; with a contract comes inspections if you haven’t done any yourself you may find added repairs need to be completed before the sell of your home can close. To avoid the unknown you could have these inspections done prior, just remember most buyers will want to complete their own inspections. But if you have already done your own and any repairs you will be confident in knowing you’ve completed the work needed.

10. When/IF all your efforts fail; don’t get to discouraged when or if this happens, selling a home is not easy work. You still have some options. At this point you could list it with a Flat Fee MLS company but be prepare to pay a co-op fee to the selling agent.  But this is still less expensive than listing with a Realtor. But this way your home is listed on the MLS for all the Realtors to see and market. Your chance for a sell just increased. 

I write this article for the FSBO but my advice to you all is to find yourself a great Realtor because even though you may save money by selling it yourself it would only take one law suit to completely wipe you out or make your life a living hell. One mistake!
A great Realtor is worth their weight in GOLD even at $1680 an ounce. Call one and if you don’t know one call me I’ll help you find one in your area.

Thank you for stopping by my blog, please leave a comment and let me know if this article was helpful or if you enjoyed it.

If you are not already following my blog please follow for future posts.

Roxy Redenbaugh
ACMC, Loan Consultant
Branch Manager