Lehigh Valley Real Estate - Tips 4 Homeowners, Buyers & Agents

Lehigh Valley Foreclosures & Real Estate - Do you want a GREAT DEAL? Are you interested in finding a home that needs work but wonder how you can get a loan on the property? Then Rehab loans are for you. Learn Here.

Times have changed....we are digging our self out of a Recession and the way MOST are buying homes has also changed.

CURRENT FACTS

1) MOST Home Buyers are going with an FHA Loan where you only need 3.5% Down as of Today 3-23-10.
2) The problem with the Standard FHA Loan is there is an FHA appraisal required that will not allow any major home repairs and this will make it impossible for home buyers to purchase the below properties. 

SO HOW CAN YOU BUY THE FOLLOWING TYPES OF PROPERTIES THEN?????

Our Current Lehigh Valley Real Estate Market is filled with the following types of homes.
Homes that Need "TLC"
"Handman Specials"
"Investor Specials"
"Foreclosed Properties - Enter at your own Risk" know as Bank Owned Homes
"Vacant & Occupied Short Sales"

The way to purchase homes like this IS the best KEPT secret in THE Lehigh Valley Area.

Now, this type of Financing is NOT something you can do on your own...you need the guidence of professional Mortgage Renovation specialists and a Real Estate Agent "Buyer Agent"  who also works with Home Buyer's interested in purchasing Distressed - Handyman Specials, Foreclosures and walking you through the entire process of purchasing a home and getting a rehab loan that fits your needs.

NOTE: NOT EVERY MORTGAGE COMPANY WORKS WITH THESE PROGRAMS
NOTE: NOT EVERY REAL ESTATE AGENT IS INTERESTED IN HELPING BUYER'S WITH THESE PROGRAMS.
NOTE: IT IS HARD TO FIND INFORMATION ON THESE PROGRAMS AS IT IS NOT QUICK AND EASY TO DO...BUT WORTH THE TIME AND EFFORT. That is why you only found my Blog on the topic.

WANT MORE?  Check out more Topics or Go to my Lehigh Valley Foreclosure Blog

We have broken this process down to make it easy to understand and easy to get the basics.

What is FHA Renovation Financing & How Does it Work?

What Type of FHA Loans are Available for Renovation Financing?

What is the process for Getting an FHA Renovation Financing Loan?

* Lehigh Valley Foreclosures & Real Estate - Getting a Loan for Foreclosures, Handyman Specials & Short Sales-THERE IS A WAY* Moriah Martin is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License

Lehigh  Valley Home Buyer Loans for TODAY not YESTERDAY. A NEW Loan to Buy  Foreclosures!  MAY 1ST 2010 Deadline - Use in addition to The Home Buyer Federal Tax Credit! NOW, THAT'S SO MAJOR INCENTIVE to purchase!

THIS LOAN IS OPEN TO OCCUPIED Home Buyers and Investors!  Holly COW - Investors normally needs to put down 20%, right!!!! come on people...this is GREAT!

WOW! There is a new Mortgage Loan in town.  He is only staying local for Home Purchases that close on or before May 1, 2010.  BUT, That's okay because to use the Tax Credit you need to be under agreement by April 30, 2010.  So, all agreements should be locked in with your Mortgage Lender by April 30th....Let's take a look at how much money YOU WILL BE SAVING!!!!!

I am soooooo excited!

If you get an FHA Loan - 3.5% Down - This is the most common loan because it has the least restrictions, you can purchase a home anywhere in the Lehigh Valley OR EVEN PA FOR THAT MATTER.

Now with FHA - These loans have special FHA Appraisals that cost you about $400 to 475.00 to get them and they will NOT allow you to buy a home that has chipping or pealing paint in a home that was built prior to 1978...It is the best program out there RIGHT NOW!  But, for a short Time...WE NOW HAVE A NEW GAME IN TOWN LADIES AND GENTALMAN! if you are at a price range of 200,000.00 and under there is a really good chance you will be purchasing a home built prior to 1978....if you live in the Lehigh Valley Area.

WITH the NEW Temporary Fannie Mae HomePath Mortgage Program - You can purchase a Fannie Mae owned FORECLOSURE, with 3% down which can save you bucks on the downpayment (100,000.00 loan for FHA $3500.00 down - Same loan with 3% down is only $3000.00) So, you say what the heck? MORIAH...$500.00 is NOT that much money? Yes, IT IS! With this $500.00 instead of using it for down payment it can be used for De-winterizing the property, Turning the Utilities on for the Home Inspecton and ordering the CO inspection. These are the major reasons why Home Buyer's can not afford to purchase a Foreclosed Home due to these extra out of pocket expenses.  PLUS...THAT'S NOT IT! Fannie Mae will also give YOU 3.5% toward your down payment and closing costs!  Holly COW! on a $100,000.00 purchase the bank will give you $3,500.00 toward your down payment and closing costs or this money can but used to purchase appliances for your new home...one of the items that are usually missing from a Foreclosed Property! yeah, the previous seller usually takes the appliances with them, wouldn't you?. Well, this can cost a New Home owner $3500.00 or more and HERE it is being paid for YOU! Awesome deal!!!!

So, now on a $100,000.00 property that is $4000.00 in cash that a Home Buyer can get on a Foreclosed Home....Let's Review, FHA Loan gives you NOTHING and MAKES you put down an extra 5% and you can not even purchase many foreclosures due to the chipping and pealing paint!

NOW, Let's see what local lenders are going to get on board with helping offer this program to home buyers.

So, Far I noticed on the following Mortgage Lender List of our Lehigh Valley Popular Direct Lenders so far...showing on the Fannie Mae Website is Met Life Home Loans - who are the other players?

Okay, so HERE are some links to help
Fannie Mae News Release Article 1-29-10
HomePath Financing Program Info

Don't Forgot...Learn BEFORE you Buy your next home!
www.LehighValleyRealEstate.TV

Lehigh Valley CASH Investors, PreApproved Short Sale - Bethlehem North Twin - Written Plan for 21% Return within 2 yrs - OFFER DEADLINE 2-15-10

This is FOR REAL - BUT LIMITED Time...there's a catch you must have your written offer in by 2-15-10 and go to settlement on or before 2-26-10. Other wise the bank will be taking this one through the Foreclosure process.

Okay, Yeah this is for REAL. Check it out.  I ran ALL Estimate cost, expenses and projected Net Profits for YOU.

DO YOU LIKE a 21% RETURN ON YOUR INVESTMENT within 2 yrs?  Does Cap Rate Confuse you?  It's okay..I don't even mention cap rate...just plan simple cash return on your total investment and this deal can get you a 21% return over 2 years if you follow my plan.  I wish I had the money to invest  because I would do it myself and that's the plan truth!

MY PLAN.
Okay, See at the BOTTOM of this Blog information about Current Market Value, CO Report, Roof Estimate...I have everything covered...if I don't let me know and I will cover that too.

THE DISCLOSURE: This is given in My professional Opinion  all investments should be confirmed on an individual bases and by your tax accountant or investment specialist – Moriah Martin, RE/MAX real estate. (To me the numbers are proof)

PRE-APPROVED SHORT SALE - 83,720.30 - Yeah the bank even wants the .30 cents too...LOL

Propery Location: 931 Fernwood Street Bethlehem, PA 18018 - Click Here for LV MLS Details

Basic Features: 3 Beds 1 Bath, 1400 sq feet, Covered Front Porch, Updated Kitchen, Updated Electrical and Heating system (not highend or brand new not org either) Partial Finished Basement and Attic but needs so work, fenced in back yard, off street parking.

At the Most the property can use $15,000.00 – Low End Repairs – Not Highend this is an investment property.

$7000.00 for a new Roof – We have estimate Actually – The Estimate came in at 5000 but you may need to replace Plywood
$8000.00 For painting, Carpet, and other small repairs

The more you do the more the property will be worth of course.

Investment Estimated PURCHASE NUMBERS

The Purchase
Price = $83,720.30 (preapproved by Bank)
Closing Costs as Shown on Est HUD = $4067.15
TOTAL CASH NEEDED TO CLOSE = $87,787.45

OPTIONS

1) Rent Property for minimum $850.00 – see proof below (depending on updates could get more) Worst Case 850

(950 is proven by current market value)

2) Rent to Own for first 2 years and then sell at $118,000.00 this is slam dunk sale right now – see proof below - I am already working with Interested Lease option to Buy Home Buyers...they are Flocking in...the loans are harder to get...but, with me they work with Local Credit Repair Companies...okay, yeah...the right way to depend on a future sale.

OKAY, SO, Annual Rental Income at 850.00 per month = 10,200

Estimated Costs For Rental on Annual Basis
Maintenance Calls - $1500.00 - It's a good idea to use a Home Warranty Company to help.
Property Taxes – 2473.00
Property Ins 1000.00

If you resell in 2 years at 118,000.00 (this is worst case and a slam dunk deal in this market, if you don't think so just work with me and I can make it happen for you)

118,000.00 Minus cost of Sale in Future - *$3800.00 - Org Investment = 102,800.00 = $11,400.00 Net YEEEEHAAAWWW

TOTAL NET OVER 2 YEARS = $21,854.00
or you can just continue to RENT year after year after year. Raising the rent $50.00 each year..etc.

*3800.00 Above is figured on using a Real Estate Agent (like me..lol) to assist in the sale in the future if needed a 2% plus other standard closing cost 1% Transfer and 110 deed prep and 35 notary fee. 

THE PROOF - CLICK ON THE LINK THAT INTERESTS YOU.
The FULL Property Detail from the LV MLS
The Proof with a CMA (which also includes these numbers above)
The Bethlehem CO Report (everything is revealed in this deal)
The Current Comps for this Investment within a .5 Mile radius with Photo's
The Roof Estimate

Are you IN?

Lehigh Valley Real Estate & Homes - Free Upcoming Home Buying Seminar / Workshop being held in Allentown PA - Learn before you buy - Not only First Time Home Buyers - Repeat Buyers welcome too.

UPDATE 5-26-10: Updated Dates/Times and Speakers

FREE Home Buying Workshop

 WHEN: February 6, 2010
 What Time: 11am to 12:30pm                  WHERE: RE/MAX real estate Office 3021 College Heights Blvd Allentown, PA 18104

          Go to MapQuest to Get Door TO Door Directions

 
Registration is a MUST click HERE!

Refreshments will be served

WHAT WILL YOU LEARN?

• Down Payment & Closing Cost Assistance Programs (state & local)
  
• How to Determine how much a home is worth to make an offer.
  
• How, When, & Why to Get Prequalified
  
• How to get the seller to give you... $5000 toward your closing costs
  
• No down payment Loans & 3.5% down payment loans
  
• How much are closing costs?
  
• Common Inspections to get on a home
  
• How a Real Estate Agent get's Paid
  
• and MUCH, MUCH MORE.
  

Local Professional Instructors Include

Moriah Martin, Real Estate Agent
RE/MAX real estate, Allentown PA

Other Lehigh Valley Real Estate and Home Buying and Selling Questions
10 Top Home Buyer Questions
Top 5 Lehigh Valley Seller Questions
What is a buyers Agent?
10 Things you should know about Buying a Foreclosure

*Lehigh Valley Real Estate - FREE Home Buying Seminar / Workshop in Allentown, PA * Moriah Martin is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License

Bethlehem Pa about the city of Bethlehem

The City of Bethlehem

     Rated in the Top 100 Best Places to Live in the US” and deemed “the Christmas City in 1938, Bethlehem, PA  is rich in culture, history, and seasonal traditions.  If you are interested in Bethlehem Homes for Sale, you may want to read on and learn more about this wonderful city.

     The city of Bethlehem offers the best mix of relaxed living and city living.  Whether you are seeking to live in the suburbs or downtown,  a luxury home, executive mansion, single family home developments, colonial, brick single, condo, townhomes, 55+ gated communities  are all available to fit your  every housing need.



Helpful Links:

Mortgage Advisor in Bethlehem, PA
Bethlehem Schools
City of Bethlehem Annual Events
Recreational Activities & Parks in Bethlehem, PA

Bethlehem, Pa Recreation and Parks - Find information on the Parks & Recreation along with website links to other helpful information about this great area to live in.

Recreation/Sports Activities in Bethlehem, PA:

     There is much to do for those in search for recreational/sports activities.  They house their own Bethlehem Municipal Golf Course ( 9 and 18 hole), Green Pond Country Club, outdoor ice-skating rink, several public parks and pools, tennis courts, basketball courts, walking/jogging trails, dog parks, recreational sports fields,  and fishing at Monocacy Creek to name a few.

If spending an afternoon shopping is your forte, then experience the charm of Bethlehem’s Historic and Southside Shopping districts.  Nestled alongside of historic buildings you will find boutiques, eclectic shops, the oldest operating bookstore-Moravian Book Shop, Celtic items, jewelry, wine, furniture, children’s clothing and toys, and fine arts and crafts.  Spas and hair salons may add some relaxation to your day.  If after strolling down the brick-laid sidewalks you find yourself in need of some sustenance, you will find  everything from delicatessens to fine dining restaurants that offer sandwiches,  baked goods, seafood, continental, Chinese, Italian, and Thai food to satisfy your palate, all within walking distance.

If strolling around town is not your cup a tea, there is public transportation offered through bus and trolley services.   Ample on-street parking or the parking garages are convenient to the shopping districts.  Enjoy a seasonal horse drawn carriage ride through the historic district while enjoying the view of holiday lights.

     For those travelers and/or commuters, historic Bethlehem is 4 miles away from Lehigh Valley International Airport, and within minutes from Interstate 78 and US Route 22. Major hospitals and a shopping mall are all within miles. Bethlehem is within driving distance of Philadelphia (45 minutes), New York City (73 minutes), and if a day at the shore if of interest, you will only need to drive a little over an hour!

     This city is a bowl filled with history, heritage, culture, arts, music, recreation, sports, charm, education, religions, and beauty.  Bethlehem will undoubtedly provide you and/or your families with a small town feel and big city entertainment and fun!

Helpful Links:

Mortgage Advisor in Bethlehem, PA
Bethlehem Schools
City of Bethlehem
Annual Events in Bethlehem, PA
Recreational Activities & Parks in Bethlehem, PA

Bethlehem PA Annual Events - Information on many annual events with website links direct to The City of Bethlehem Annual Events.


City of Bethlehem Annual Events:

There is no shortfall of entertainment within this city. One of the largest events is Musikfest, which provides  professional , local, and amateur talent. Rich in cultural, art and music, it is one to see in August. 

Bethlehem also hosts the Southside Film Festival, Bach Festival, Blueberry Festival, The Celtic Classic, First Night, and Movies in the Park.  New to Bethlehem’s Southside, the Sands Casino will add to your evening entertainment.

This city has a plethora of local artists and musicians that showcase their talents.  The Banana Factory and art galleries warehouse the local talent.  Theatrical performances shown at the Pennsylvania Playhouse are a must see.   Take time to visit the many museums, including the tribute to Bethlehem Steel.  Listening to the singing of the Bach Choir will put music to your ears.  The Art Walk, Chriskindelmart, and First Friday are just a few additional entertaining events to mention.


Helpful Links:

Mortgage Advisor in Bethlehem, PA
Bethlehem Schools
City of Bethlehem
Recreational Activities & Parks in Bethlehem, PA

Bethlehem PA School Information will provide you with details regarding Public & Private Schools as well as Colleges and Universities

Bethlehem, PA Public Schools:
   


For those families moving into the area with children, education will be on the mind.  Bethlehem Area School District    contains 2 High schools, 4 middle school, and 18 elementary schools.




Bethlehem Area Private Schools:
 
For those seeking private education for their children, there is Bethlehem Christian School, Bethlehem Catholic High School, (which provides education from pre-k through 12 grade), St. Anne’s School, Lehigh Valley Charter High School for Performing Arts, Moravian Academy, and Lehigh Valley Academy Regional Charter School to choose from.

Bethlehem Area Colleges and Universities:
   

For those seeking higher education for either their adult children or continued education for themselves, the esteemed Moravian College campus sits within a mile radius from the historic district, while the prestigiously ranked Lehigh University is nestled within the south side mountainside.  If you would like to relax and sit down to read a good book, the Bethlehem Library is the place to be.



Helpful Links:

School Ratings
Mortgage Advisor in Bethlehem, PA
City of Bethlehem
City of Bethlehem Annual Events
Recreational Activities & Parks in Bethlehem

Things to Do, Shopping, and Business in Emmaus, PA

Downtown Emmaus, PA                   

The heart of every community is its downtown, and Emmaus’  especially rich in character and history.  The Moravian Church on Main Street remains a landmark in the community.  To help
maintain this historic character, and to promote economic stability in the downtown, the Emmaus Main Street Program was established in 1995.  And the borough is emerging as a destination.
 Many festivals grace the streets throughout the year, while  historic sites offer a glimpse into the town’s past.  Indulge in Emmaus’ heritage and discover a community bursting with pride.


Emmaus, Pennsylvania is a special place with a wonderful and unique history.  250 years ago friends and neighbors gathered at the community well to share the experiences of their lives.  Today that gathering place is the Remembrance Garden at the Knauss Homestead.


The primary goal of the Shops of Emmaus is to create a strong, vibrant shopping and business environment for those located in Emmaus.  The Shops of Emmaus support businesses through cooperative advertising and community events.  Our goal is to promote the success of all retail and service business members.
                                                      

Emmaus, PA City Guide to Entertainment

I'm bored" in Emmaus are two words you'll never hear (or think) again. There's so much fun things to do in  Emmaus, PA – all you need is one place to scope out all your options. Whether your ideas of fun are dinner and a movie or helping rebuild a neighborhood, start here to find your next adventure with  Emmaus Things to do guide!  Go to following link

AmericanTowns.com Has your Emmaus City Guide to Entertainment, Arts and More:

Below are Just a few links you will find at AmericanTowns.com

    * Restaurants & Dining in Emmaus
    * Event Tickets for Emmaus
    * Hotels in Emmaus
    * Movie Times/ TV Listings
    * Local Food / Farmers' Markets in Emmaus area
    * Volunteering in Emmaus
    * Arts & Entertainment
    * Festivals around Pennsylvania
    * Attractions This Season
    * Parks
    * Sports & Recreation
    * Wildlife
    * Tickets for Local Concerts, Arts and Sporting Events

Emmaus Arts Commission

The Emmaus Arts Commission is a premier arts organization located in Lehigh County, Pennsylvania. Our mission is to encourage, educate and promote the arts and to develop an appreciation of the arts, which will enrich and enhance the quality of life within the Emmaus and surrounding Pennsylvania areas.

Emmaus Art in the Garden Tour

Participants in the Emmaus Art in the Garden Tour are able to take leisurely strolls through pristine yards, see historic architecture, talk with landscape and gardening experts, listen to  talented musicians, buy native  plants, purchase fine arts and crafts from numerous artisans, sample delicious treats from local bakeries, and even hear a cooking tip or two. The Emmaus Art in the Garden Tour is a memorable day for all those involved.

To view current events for the Emmaus Arts Commission, visit them Online

Emmaus Farmers' Market

Throughout the summer and fall, the Emmaus Farmers' Market will be offering an array of fun and exciting events.

Check out Great Pages on The Emmaus Farmers' Market Website

1) 10 Reasons to Buy Local Food
2) Upcoming Events
3) Recipes of the Farmers
4) About the Market

Other Emmaus Community Resources and Information

Parks & Recreation
Things to Do
Community Details & History
Emergency Resources
Public Schools

Emmaus PA Public Schools - A list of our Public schools with Full contact information, plus school links and resources to School Rating Websites, plus other helpful Emmaus PA community information.

LINCOLN ELEMENTARY SCHOOL

233 SEEM ST, EMMAUS, PA 18049

Phone:610-965-1636                                                                    
Grades: K - 5

JEFFERSON ELEMENTARY SCHOOL
520 ELM ST, EMMAUS, PA 18049
Phone: (610)965-1644
Grades: K - 5

ALBURTIS ELEMENTARY SCHOOL
222 WEST THIRD STREET, ALBURTIS, PA 18011
Phone: (610)965-1633
Grades: K - 5

MACUNGIE ELEMENTARY SCHOOL
4062 BROOKSIDE RD, MACUNGIE, PA 18062
Phone: (610)965-1617
Grades: K – 5

SHOEMAKER ELEMENTARY SCHOOL
4068 N FAIRVIEW ST, MACUNGIE, PA 18062
Phone: (610)965-1626
Grades: 3 – 5

WESCOSVILLE ELEMENTARY SCHOOL
1064 LIBERTY LN, WESCOSVILLE, PA 18106
Phone: (610)395-5851
Grades: K – 5                               
           
LOWER MACUNGIE ELEMENTARY SCHOOL
6043 LOWER MACUNGIE RD, MACUNGIE, PA 18062
Phone: (610)395-2341
Grades: K - 2

EYER MIDDLE SCHOOL
5616 BUCKEYE RD, MACUNGIE, PA 18062
Phone: (610)965-1600
Grades: 6 – 8

LOWER MACUNGIE MIDDLE SCHOOL
6299 LOWER MACUNGIE ROAD, MACUNGIE, PA 18062
Phone: (610)395-8593
Grades: 6 – 8

EMMAUS SENIOR HIGH SCHOOL
500 MACUNGIE AVE, EMMAUS, PA 18049
Phone: (610)965-1651
Grades: 9 - 12

School Rating Report Websites

Pennsylvania School Rankings
Great Schools.net
Sunshine Review
School Matters

Other Emmaus Community Resources and Information

Parks & Recreation
Things to Do
Houses of Worship
Emergency Resources
Community Details & History