No Money Down Does Not Mean No $!

Just because you’re buying a home No MONEY DOWN does not mean you won’t have to spend any money at all.

I think it’s safe to say that most people look at money as an enemy. Author, Phil Laut, wrote the book, Money is My Friend. This book was originally written in 1978 and has since been updated and revised in 2002 and 2004 respectively.

The subtitle: Eliminate Your Financial Fears….I think is the key element in the mind of most people: Most of us are afraid of money because we haven’t had a good relationship with money from the beginning. With the exception of the wealthy and ultra-wealthy, the larger majority of our population falls into  one of the following categories: well-to-do, middle class or poor. When I say poor I mean in terms of how much money you make or where you can afford to live, etc.

Most people will state quickly that “money is the root of all evil” because that is what it says in the bible and that’s why most people don’t have a good relationship with it because most people are good and money has gotten a bad rap. However, that suggests that people who are wealthy or are good with money must be bad. Well, think again! The correct verse is “the love of money is the root of all evil”.

What does all of this have to do with buying a home……Well, Everything! If you have the wrong mindset then you’re going to make it hard on yourself to get anything done, including buying a home. Why? Because what you Focus on Expands. If you continue with the mindset that money is evil, hard, bad then you’ll constantly let it slip through your fingers, which is why when it’s time to buy your dream home you’ve been wanting you think NO Money Down is the quick and easy way to buy your home. Now don’t get me wrong, if you qualify for USDA for instance your income has to be at an applicable or low income limit and usually no money down is required great-go for it.  Of course, the home will have to meet all of the USDA guidelines.

Back to what all of this have to do with NO MONEY DOWN. Well, if you go into the process of buying a home with the mindset that no money is required consider that there are certain costs to purchasing a home. Consider your down payment or earnest money deposit if it’s not a USDA loan. Also consider having a home inspection for which the inspector is paid at the time of inspection, and closing costs. Not to mention moving expenses if you plan to hire a moving company. Even if family members and friends help they’re going to be hungry and thirsty. In addition, you may be eating out for a few nights or going to family members or friends. If you intend to buy some new furniture or get a new door or a few windows, all of these expenses will require money OUT OF YOUR POCKET! The list can go on but you get my meaning.

So what’s the answer? Simple. Save Your Money. How much? Suggestion: $5k minimum. How? Prioritize. Plan. Prepare. Sacrifice. Give up a few things now – skip a meal out, skip a movie night and get a DVD from the local library, cut the cable for a few months, brown bag it for a few months – in order to gain something Great – Your Home for you & your family. It will be worth it. I promise. Need some assistance with it? Easy, call me at 609-484-9890, email me:sbhardy@kw.com, https://www.facebook.com/atlanticcountynjhomes/.

To Your New Home!

 

Happy March 2017!

Hey All, I haven’t actively been posting because I’ve been working on closings with clients and it can get hectic and I’m only Human! I’ve also been working on writing a book that I’d like to share with you. I wanted to put together a book to share my experience as a real estate agent in the hopes of helping others know more about it before they take the plunge into the real estate arena. To that end, I’ve written a book I named Necessary Roughness because I felt that was what I went through to learn the business of real estate. I think this term can appropriately be applied to learning any new skill for your job or a business.

I am hosting a release party on Friday, May 12, 2017 at a TBD venue. If you are thinking about or have thought about what it could be like in the real estate arena, I Invite you to pre-order Necessary Roughness.

I wrote this book with the newbie real estate agency, struggling real estate agent, frustrated real estate agent in mind to let you know there is a light at the end of the tunnel and this is what we all go through on our way to success.

Pre-order your copy of Necessary Roughness to get a sneak peek into the world of real estate.

 

Hey, What about a 203K?

fha203Picture it. You’re ready to buy your home. Your credit is right where it needs to be. Your mortgage rep said you just need to do a few more things and you’re ready for pre-approval. You know which real estate agent you’re going to work with because they’re the one that has kept in touch with you and helped you along the way.

Now you’re thinking ok I’ve been driving by or walking by this house for the longest. There’s something about it you really like except – IT’S A JUNKIE HOUSE! Or is it?ragedyhouse

You’ve seen your aunt who is a general contractor take a house like this and make it look really nice so you know it can be done. What about the house you want? You wonder how you’re going to be able to buy the house and have the money to renovate your home as well. You tell your real estate agent about it and she says, “Sure. That’s what the 203K Rehab Loan is all about. Problem solved!

The FHA 203k permits homebuyers to finance up to $35k into their mortgage to repair or improve a home. Many times as  real estate agents, we take clients around looking for the perfect home and you may have seen a property that was perfect however it needed some repairs and upgrades. Well, your homebuyers can still have their “dream” home with a little patience and ingenuity. Knock out some walls, put in a new kitchen and bathroom and Walla! Your “Dream” home is ready for you and your family to move into. You found the perfect home and it fits the Lifestyle of you and your family; it has the all the space you need to be comfortable and create great family memories.memories

Have you seen that home that is perfect but it needs some work? Call me or reply to this post so I can tell you about the FHA 203k. We can make it happen together! Just ask me, Hey, “What about a 203k?

#You’re Almost There

Northfield, New Jersey,  January 31, 2017 — Have you decided on a career in Real Estate? You got your license, found a real estate brokerage firm that will give you the tools you need to succeed, you’ve had a few closings however not quite where you thought you would be?

Sellers Driving You Crazy? Renters Not Keeping It Real? Homeowners NOT talking to you? Thought you had the appointment? Frustrated? Agitated? Confused?

Or…

You have no Idea what the above means because you just passed your real estate exam yesterday or Last Week?

Well Hold On!

#You’reAlmostThere

If any of that resonates with you, Stay Tuned For the Release of

Necessary Roughness May 2017!realestatefullcover

When is the best time to Close on Your Home?

Most home buyers don’t give it a second thought most of the time when they buy a home they usually want to close and get in their new home as soon as possible. storkHowever, like it takes nine months before a baby is born, just a little patience could make a big difference. I don’t mean 9 months of patience! How about the end of the month? Yes, if you close at the end of the month, you may save a few hundred dollars at the closing table that you could use to buy paint or just treat yourself and the family to a dinner out at a nice restaurant. 4561615964034584036Let me give you an example.

With your home loan interest accrues from the closing date to the end of the month. If you jump the gun and close in the middle of the month – say the 16th – you will have to pay 15 days of interest. However, if you close on the 30th of the month you pay for one day of interest saving you at least a few hundred dollars. Definitely something to look forward to when you’re already spending a great deal of money. Saving is GOOD! If you have any questions about buying a home, please contact me at sbhardy@kw.com or call 609-484-9890.12490888-house-key-gold-real-estate-logo

What’s the Deal with Rent-to-Own?

stock-photo-real-estate-directional-arrow-sign-rent-to-own-for-rent-foreclosures-for-sale-short-sale-sold-340683395Rent-to-Own. Sounds simple enough. Rent something until it’s time to own it. Well, it doesn’t always work as simple as it seems that it should. As a Realtor, I get a lot of clients asking me about Rent-to-Own. I think most renters feel more comfortable approaching home ownership in this manner because the word rentpicis still involved. And this will give them time to wrap their head around the fact that they will actually ownyour own home and you just kinda went in the back door by renting first. I think a lot of renters who are credit-challenged feel more comfortable with this approach as well because they may feel that they don’t have to rush and repair their credit and they can still get a house. 

I’m sorry to burst your bubble because I have never seen in this area a successful rent-to-own home successfully completed. I have heard of these type of deals started however I have never seen them successfully completed with the person who rented actually end up owning the property. I have seen the renter start the process then have to move out about 3 months before the contract is to be executed for one reason or another such as a family member needing to move in or some other type of emergency. You have paid all of your money with the intention of home ownership but it doesn’t happen and you didn’t get any of that money back.

The Solution to this scenario is simple – Talk to your Realtor who can suggest some mortgage reps for you to choose to work with or find your own mortgage rep to work with to Actually fix your credit and get it where it needs to be in order to secure a mortgage. Or if you have cashmoneyby all means then pay cash for your home and you won’t have to qualify for a mortgage. However, you still need to and you should make  fixing your credit a priority.

At the end of the day if you don’t deal with your credit, your credit will deal with you. You’ll always pay more for the same things that the rest of us who have better credit pay less for so get to work and fix your credit. If I can be of service, don’t hesitate to let me know.hiscore

I didn’t Move in Until 3 months later!

I’m going to share a little piece of myself in this blog post that is both personal and real estate related so I figured why not….so here it goes.

I have been on my own personal journey of wanting to be my own boss, work for myself, fire my boss — since I watched Robert Kiyosaki’s infomercial, You Can Choose to be Rich. richdadAfter I saw that informercial I knew that was it for me and I wasn’t gonna stop until I got there. Well, little did I know it would be a helluva journey that I am still traveling. And while I have made great progress, there is always room for improvement and a lot to learn. The greatest lessons we learn on this journey I have discovered and you may agree — are the lessons we learn about our individual self. Yeah, you remember the words to Michael Jackson’s song …”I’m starting with the man in the mirror”… Michael Jackson Yep! that’s where it all begins and in my case the woman in the mirror -m.e. I had a lot to admit about myself – that woman in the mirror if I was going to elevate to my highest best self and be the best me that I could be. Damn. That’s not easy. It’s difficult to admit the truth about yourself. However, we cannot change what we will not acknowledge.

Ok. Great. What the hell does all of that have to do with real estate? Great question. I have been living in my home since October 2015. I love my home. It’s great to have the extra space, the extra bedroom. Here’s the rub. I purchased my home in July. Did you catch that? July. I told you I’ve been living in my home since October. Huh? I closed in July. I didn’t move in until October. Why? Because I felt unworthy. I had difficulty processing the reception of my gift and I had perfectionism issues. My good friend kept asking me….”Uh Simone dear you closed 2 months ago, when are you moving in? My niece asked me, “Aunty, when are you moving in? Frankly, I got tired of people asking me and I had to ask myself well Simone when the hell are you moving in? I got up and walked into the bathroom in my old apartment and looked at the woman in the mirror and asked that question. I was so angry at myself. I had to admit that I had feelings of unworthiness and didn’t deserve to live in my home. I got mad again and looked at myself in that mirror and said, “Simone – what the hell is wrong with you?” I have worked hard, I’m a good person, I deserve to move into my new home and enjoy it. Who said I didn’t deserve it? Well, if I said that at any time, hear me loud and clear Universe, God etc. – I deserve it, I’m worthy of this and I’m moving in. That was the first and last time I’ve had that conversation with myself and I haven’t looked back since that day. I’m fixing up and enjoying my new home. I’m learning alot about being a new homeowner as well. That’s another blog post!

Whew! That was a little bit more challenging than I thought however I felt I needed to share it as someone may benefit from my experience and know they’re not alone.

Look at yourself in the mirror. Tell yourself whatever you need to in order to remove that limiting belief and go get whatever it is you desire. You Deserve it!