Category Archives: Financing for homes in Ocala

What to do to Purchase a Home

WHAT TO DO TO PURCHASE A HOME

Purchasing a home is the largest investment that most people undertake in their lifetime. Since credit scores are very important factor in determining what terms the buyer would receive on the financing in the purchase of a home, buyers should know what they can do to improve their credit scores.

First thing is get credit scores from the three major credit bureaus, Experian, Equifax, and Trans Union. These scores should be similar, if not, then there are discrepancies that need to be looked in to.

If you find any errors, they should immediately be challenged in writing by filling out a dispute form located on the back of the credit report. Once the credit bureau as received the written challenge, they must notify the retailer and then the retailer has 30 days to respond in writing. If they fail to respond the consumer gets the benefit of any doubt, but the down fall it takes 30-45 days to correct it. It is recommended that the buyer get credit scores 45-60 days prior to closing on home, to give enough time to fix errors.

Do not make inquires for additional credit such as department store, auto dealers, furniture etc. Recent inquires lower scores.

Payoff as many outstanding balances owed on credit cards and other month to month and do no use credit cards until after closing.

Pay obligations timely.

Do not use credit cards to pay off another during 30-45 days of closing period, as both credit card balances will show up increasing debt ratio.

Do not use consumer finance companies. They lower your score.

Never go to consumer counseling service when you apply for home loans. This alerts credit bureaus that you are unable to pay bills and will have an effect such as bankruptcy would.

If you have relatives that are willing to help you, have them pay off your credit cards to help wipe out debt. Present estate gift laws allow relatives to give $11,000 per year. Another way a relative can help is to buy down the mortgage rate, or they can act as co– borrowers.

It is always good to check your credit report yearly. We found someone used my husbands name and SS# and we had a judgment on one of the three reports.

I hope this was informative for you and your friends. I hope you are doing well. If you need anything call me 352-266-2637.

I work with Rick Durham Bank of England, he is wonderful, call her for loan information– 352-804-5883

– Rhonda

Did you do a Short Sale?|What is Time you must wait to get New Loan?

Rules are changing! For everyone out there that had to sell their home as a short sale, you are being rewarded. New rules states that is you had a true hardship, like loss of income, loss of job, cut in pay, medical bills, and job transfer, then you could qualify for a new mortgage in as little as 1 year for you close date on the short sale.

The normal time frame is three years and 1 days before you can write application for a new loan. If you have waited that long then you would be qualified for First Time Home Buyers Program with $10,000 give to cover closing cost and down payments.

Now if you have saved 20% of the purchase price you can always get a conventional loan, with just a 2 year waiting period after short sale.
I hope this help you under stand what it will take to get a loan after a short sale.

When you are ready to purchase give Rhonda Buckner a call 352-266-2637 she has a reputation for result. As always, if you have any questions about real estate in Marion, Lake and Citrus County give us a call.

Buckner Homes Realty Inc
3200 SE 20 Ave
Ocala, Fl 34471
BucknerHomes@gmail.com

$10,000 Any One?| First Time Home Buyers Program

$10,000 Anyone?

Do you know any one that could use $10,000. Sure we all could use it. The state of Florida has a First time home buyers financing program that is giving anyone that has not owned a home in the last 3 years an opportunity to purchase. Yes, there are minimum requirements, like 640 credit score and household income limits. Escambiahfa.com

It is a great opportunity for those who are looking to purchase and do not have cash for down payment and closing costs. This program can be used towards any home in Marion County. Ocala market is prime for first time home buyers. The prices of homes are still low and interest rates are in 3-4% still. One of my closing recently, the buyer had a total payment of $359.00. Where can you rent for that low. I find it hard to find anywhere to rent under $500.00 and to purchase a $80,000 home that is where you would be for a payment.

Give Rhonda a call for more details. Let me know if you or any friends or family might be interested.

Buckner Homes realty Inc
3200 SE 20 Ave
Ocala, Fl 34471
Bucknerhomes@gmail.com
352-266-2637

30-Year Fixed Mortgage Rates Decline for 4th Consecutive Week

Rhonda Buckner with Buckner Homes Realty
3200 SE 20 Ave. Ocala, Florida 34471
352-266-2637
www.BucknerHomes.com

Read more great news posted on Zillow today!
Mortgage rates for 30-year fixed mortgages fell this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 3.31 percent, down from 3.34 percent at this same time last week.

The 30-year fixed mortgage rate remained relatively flat for the majority of the week, hovering between 3.34 and 3.32 percent before dropping to the current rate this morning.

“Amid continued economic uncertainty both domestically and abroad, mortgage rates held steady near this year’s lows,” said Erin Lantz, director of Zillow Mortgage Marketplace. “We expect mortgage rates will remain close to these levels during another relatively quiet week for economic events and data.”

Additionally, the 15-year fixed mortgage rate this morning was 2.53 percent, and for 5/1 ARMs, the rate was 2.22 percent.

What are the rates right now? Check Zillow Mortgage Marketplace for up-to-the-minute mortgage ratesfor your state.

04-23-13 1003AM

*The weekly rate chart illustrates the average 30-year fixed interest rate in six-hour intervals.

Give Rhonda a call to help you find that perfect home and to discuss the options that buyers have. As always you can search for homes in Florida at www.BucknerHomes.com . I am always here to help you.

Just call and say Help Help me Rhonda 352-266-2637

GOOD NEWS FOR OCALA’S REAL ESTATE MARKET

Rhonda Buckner with Buckner Homes Realty
3200 SE 20 Ave. Ocala, Florida 34471
352-266-2637
www.BucknerHomes.com
According to Trulia’s latest predictions Ocala seems to be rebounding

The average price per square foot for Ocala FL was $65, an increase of 12.1% compared to the same period last year. The median sales price for homes in Ocala FL for Jan 13 to Mar 13 was $86,000 based on 713 home sales. Compared to the same period one year ago, the median home sales price increased 13.8%, or $10,400, and the number of home sales decreased 15%. There are currently 2,687 resale and new homes in Ocala on Trulia, including 1 open house, as well as 3,243 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Ocala FL was $271,165 for the week ending Apr 10, which represents an increase of 0.9%, or $2,374, compared to the prior week.

Give Rhonda a call to help you find that perfect home and to discuss the options that buyers have. As always you can search for homes in Florida at www.BucknerHomes.com . I am always here to help you.

Just call and say Help Help me Rhonda 352-266-2637

OCALA CONDO CLOSE TO HOSPITALS

Rhonda Buckner with Buckner Homes Realty
3200 SE 20 Ave. Ocala, Florida 34471
352-266-2637
www.BucknerHomes.com

3031 Se 5 Ter, OCALA, FL 34471

CONDO CLOSE TO HOSPITALS

2 bedroom 1 bath condo located in SE Ocala. This condo has a large living area, open kitchen, large bedrooms, open patio for grilling. Close to shopping and transit system. $45,000

Give Rhonda a call to help you find that perfect home and to discuss the options that buyers have. As always you can search for homes in Florida at www.BucknerHomes.com . I am always here to help you.

Just call and say Help Help me Rhonda 352-266-2637

GREAT OCALA LEASE PURCHASE

Rhonda Buckner with Buckner Homes Realty

3200 SE 20 Ave. Ocala, Florida 34471
352-266-2637
www.BucknerHomes.com

LEASE PURCHASE

Awesome home in very quiet location. Real hardwood floors and ceramic tile throughout living area, open eat-in kitchen, split bedroom floor plan, and completely fenced back yard. Call for details on rent to own. $165,000


Give Rhonda a call to help you find that perfect home and to discuss the options that buyers have. As always you can search for homes in Florida at www.BucknerHomes.com . I am always here to help you.

Just call and say Help Help me Rhonda 352-266-2637

5 Ways to Find Your Home During an Inventory Shortage

Rhonda Buckner with Buckner Homes Realty
3200 SE 20 Ave. Ocala, Florida 34471
352-266-2637
www.BucknerHomes.com

Ocala’ Market is very hot again!! Read this great article from professrbarron.com

The news is out. Real estate is back. Home buyers are in the game again, but they’re facing a huge inventory shortage in most markets. Some buyers make three of four offers on homes, only to keep losing out to other buyers.

In this tight market, buyers and real estate agents need to think outside the box. You may need to go after homes that aren’t listed for sale. Here are five ways to do that.

1. Look for ‘expired’ and ‘withdrawn’ listings

A good agent will scour the MLS for homes that were listed in the recent past but never sold. Many homes failed to sell because they were seen as overpriced at the time. Does their last list price seem like a valid price today? Chances are, the owner doesn’t realize how much the market has picked up and might still be open to selling the home. Have your agent contact the owner with a letter expressing your interest in purchasing the property. Show the owner you’re serious, and you’ll likely get a response.

2. Search for Make Me Move® prices

Do you feel like cattle being herded through a busy open house with dozens of other buyers? Scouring the Zillow app while on the Sunday open house circuit? You might want to filter listings by searching for homes with a Make Me Move price in the neighborhoods where you want to own.

Owners who have set a Make Me Move price have gone out of their way to indicate a price that would make them sell. Some would-be sellers are unrealistic in their pricing. But others may have listed their property months or years ago, and their price may in fact be doable. Reach out to them with an offer. It often works.

3. Check rental listings

Why would a buyer go after rental listings? Here’s why: The owner may have lived in the home at some point but had to move for a job transfer, divorce or life change. At that time, their home could have beenunderwater or the market simply wouldn’t support the asking price. Instead of listing it with an agent, they just decided to rent it and “ride it out” for a couple of years. Their current tenant might have given notice and, without knowledge of the changing market, the owner simply wants to rent it again. Go see the home. If you like it, find out if the owner would be open to selling. Make it easy, and they may be on board.

4. Don’t ignore overpriced listings

The No. 1 complaint among real estate agents everywhere is working with a seller who’s unrealistic about their home’s price, especially in this tight market. But as a buyer, you might use it to your advantage.

After six weeks or less in some markets, an overpriced home loses its luster. The seller doesn’t clean as often. Weeds grow in front. And it just may not show as well. The fading curb appeal, along with an unrealistic price, will keep buyers away.

How is this good for the buyer? Many sellers won’t list their home at a lower price but will sell it at a lower price. Go in with an offer before the first price reduction, if possible. Once they do drop the price, other buyers will take notice again, and you may have competition.

5. Off-market or pocket listings

Some homeowners want to sell but don’t want to or can’t list. Maybe they simply don’t want the hassle of keeping a clean home and dealing with showings. Or perhaps they’re just very private. Especially in the luxury market, some owners just don’t want to publicly list their homes.

In many markets, real estate agents regularly network with each other about potential deals. Some areas have dedicated websites for agents to share off-market properties, also known as “pocket” listings. Also, brokerage firms generally release upcoming listings to their agents a few weeks before they hit the MLS. Work with a well-connected agent and make sure you’re privy to these potential opportunities.

Think outside the box

Most active buyers spend months looking for a home the traditional way. Until prices rise enough to bring more sellers and inventory into the market, these buyers will likely keep facing tight housing inventory. That’s why it’s important to make sure your agent is trying every way possible to uncover opportunities for you. Be open to using non-traditional methods to beat the competition and take advantage of low interest rates and favorable pricing.

Give Rhonda a call to help you find that perfect home and to discuss the options that buyers have. As always you can search for homes in Florida at www.BucknerHomes.com . I am always here to help you.

Just call and say Help Help me Rhonda 352-266-2637

Ready TO Buy in Ocala? | 30-Year Fixed Mortgage Rates Down Slightly

Rhonda Buckner with Buckner Homes Realty
3200 SE 20 Ave. Ocala, Florida 34471
352-266-2637
Here is Zillows latest update on 30 year fixed mortgage rates

Mortgage rates for 30-year fixed mortgages fell this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 3.4 percent, down from 3.46 percent at this same time last week.

The 30-year fixed mortgage rate hovered between 3.42 and 3.47 percent for the majority of the week, dropping to the current rate this morning.

“After remaining steady for the past week, rates moved slightly lower yesterday after Italian election results renewed concerns about Eurozone economic stability,” said Erin Lantz, director of Zillow Mortgage Marketplace. “This coming week, rate movement will depend on sequester discussions in the United States and perceived political tensions in Italy and elsewhere in the European Union.”

Additionally, the 15-year fixed mortgage rate this morning was 2.64 percent, and for 5/1 ARMs, the rate was 2.27 percent.

What are the rates right now? Check Zillow Mortgage Marketplace for up-to-the-minute mortgage ratesfor your state.

02-26-13 955AM*The weekly rate chart illustrates the average 30-year fixed interest in six-hour intervals.

Give Rhonda a call to help you find that perfect home and to discuss the options that buyers have. As always you can search for homes in Florida at www.BucknerHomes.com . I am always here to help you.

Just call and say Help Help me Rhonda 352-266-2637

Great News for May Homeowners |More Homeowners Are Mortgage-Free Than Underwater

Rhonda Buckner with Buckner Homes Realty
3200 SE 20 Ave. Ocala, Florida 34471
352-266-2637

The market has gotten so much bad press in the last few years. But this article from Zillow should bring some optimism to home owners!

In recent years, we’ve heard a lot about homeowners’ mortgage debt and how it is impacting the housing market as a whole. In particular, we keep hearing about persistently high levels of negative equity, which happens when a homeowner owes more on their mortgage than their home is worth.

But there’s a flip side to that coin. Yes, a large number of homeowners are struggling to manage their mortgage debt. But, perhaps surprisingly, even more homeowners have no mortgage debt at all.

Almost 21 million Americans, or 29.3 percent of homeowners, own their homes outright, unencumbered by a mortgage, according to a recent Zillow® analysis of mortgage data. Analyzing data through the third quarter of 2012, Zillow found that 20.6 million homeowners nationwide own their homes free and clear of mortgage debt.

Using the same data, Zillow found that slightly more than 14 million U.S. homeowners with a mortgage were in negative equity, or underwater, in the third quarter.

Similar to negative equity, the free-and-clear homeownership rate is largely driven by home values – but in a different way. Underwater borrowers are pulled to the surface as home values rise. But we found that in areas with proportionally lower overall home values, free-and-clear homeownership rates are likely to be higher. This makes sense – smaller loan amounts are easier to pay back more quickly.

Demographic factors including the age and credit rating of primary borrowers also influence free-and-clear homeownership rates. Zillow found that 65- to 74-year-olds are most likely to be free-and-clear (20.5 percent), followed by 74- to 84-year-olds (17.9 percent). This is attributed to the fact that the longer someone owns a home, the longer they have to pay off their mortgage. Interestingly, when examining free-and-clear ownership rates as a percentage of homeowners in various age groups, Zillow found 34.5 percent of 20- to 24-year-old homeowners are free of mortgages.

Among homeowners who own their homes outright, 44 percent have a high VantageScore – representing their credit rating – between 800 and 900. Only 15.5 percent of homeowners with the highest credit rating of 900-990 are free-and-clear.

“So far we have used our unique data on how much homeowners owe on their homes primarily to identify underwater and delinquent groups of homeowners,” said Zillow Chief Economist Dr. Stan Humphries. “But looking at those homeowners who are free-and-clear is important, too. Homeowners unencumbered by a mortgage may be more flexible than indebted homeowners, and therefore more apt or willing to list their homes or enter the market for a new property. By determining where these homeowners are located, we can also gain insight into potential inventory and demand in those areas, as well.”

Give Rhonda a call to help you find that perfect home and to discuss the options that buyers have. As always you can search for homes in Florida at www.BucknerHomes.com . I am always here to help you.
Just call and say Help Help me Rhonda 352-266-2637