The reason for absence...

     Reason for my absence, 2019 I was on an Army deployment to Afghanistan. Memorable experience that allows you to live in the moment and time. Upon my arrival back to the United States 2020 the COVID pandemic hit "Welcome Back to the USA" :) 

Niching your Business 

What's the number one reason most business owners goes out of business?

It's because they don't sell enough. They don't prioritize marketing and sales.

What is the second reason most business owners go out of business?

It's because they don't have NICHE. They try to sell something to everyone. 

For myself I have special interest in the First Time Buyers and the Real Estate Investors. 

Knowledge is power and conversation with me is FREE. 

May 2018 Home Sales

https://www.yahoo.com/finance/news/

us-home-sales-fell-0-4-percent-may-140122117--finance.html

To summarize the article. Home Values are increasing so current home owners are holding on watching their equity grow. The interest rates are rising so now is a good time for people to buy.

key points....
The number of sales listings has dropped 6.1 percent over the past year to 1.85 million. That forced would-be buyers to act quickly and sign contracts on average in just 26 days. It also pushed up **home values** as the median sales price in May rose 4.9 percent from a year ago to $264,800.

Market Value

The Market Value of your property is determined by 

"What a buyer is willing to pay for it in today's market".

Buying a Home with the VA Loan

          Buying a Home is a process, it could be short or long. Key things to remember is that every home is not the same. Below is the simple version of the process but keep in mind there are some hiccups along the way but remember your working with a professional, I will make it a smooth sailing to home ownership.

 First step find a Realtor

    So that means "Call Me".
Byron Charles  ph: 240-308-4663

Get approved for a "Mortgage"

     The VA loan has some requirements, as long as you qualify it is one of the best loans out there.
Requirements: You must have satisfactory credit, sufficient income, and a valid Certificate of Eligibility (COE) to be eligible for a VA-guaranteed home loan. The home must be for your own personal occupancy.

Let the search begin
House Hunting time.

 Make an Offer
Thats right,cross your X's and O's, hopefully your offer will be accepted.

VA Appraisal
This is ordered from your Lender, an approved Appraiser from the VA Department is assigned to appraise the property. What does that mean? the VA is ensuring the property is worth the amount you are trying to buy the property for.

 Home Inspection
As beautiful as you future home may look, it's wise to and mandatory on some loans to have an inspection done. Trust me its worth it.

Termite Inspection
Through the VA Loan the Seller is mandated to perform a termite inspection.
Hopefully no wood eating critters are found.

Close, Close, Close
Be prepared to sign a lot of paperwork, but its all worth it, your signing the Deed to your Home.

 Congratulation your a Home Owner
Don't forget to invite me to the house warming. :)

Tips for the Non-chalant investor

Tips for the Non-chalant investor:

1. While living in the property, upgrade the old outdated features.
2. Just like stocks monitor the going market value for your property and neighborhood.
If the market value increases substantially and your thinking about selling, let’s talk so I could consult  you on your options.
3. Location, Location, Location is a key word in Real Estate.

Everyone needs a place to live

Qoute of the day:
Everyone needs a place to live,
Search for a place to call your own.

Credit Repair

Credit Repair should be a “Free DIY”. 

Why? because any money should go towards the debt not someone else pockets. That in a nutshell is my personal opinion on the matter, not a fact. So on to the meat and potatoes I will will list some helpful tips to improve your credit score.

First off, What is credit? As define credit is the ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future. 

1. Obtain your credit report to get a list of all your debt, current and past. The reason for this is to identify and dispute charges that may have been paid off or doesn’t exist anymore.

2. It takes time for your score to grow. Rank your debt in 2 ways, one based on amount and the next on interest rate. I highly recommend the lowest debt that is easiest to pay off in minimum time you should go ahead and pay off. Once the little guys are out of the way start paying towards the high interest. The reason why is because you want to get to the principal ASAP rather than wasting time and money on interest charges.

Key things- if the debt is close to 7yrs I wouldn’t recommend touching it since it’s on the verge of being dropped and considered a lost from the owner, but once again seek professional advice on this. 

3. Time to build. If you do not have a current credit card then get one, keep in mind the interest charge and benefits. The goal here is to keep or get your balance to no more than 33% every month. The reason why is because of the meaning of credit. Basically you are someone I could lend money to and in x amount of time you are capable of paying back your debt.

There are more tips and advice on increasing your score but these are just a few to help you on the way.

REO Bank Owned Properties and Foreclosures

REO Bank Owned Properties and Foreclosures

are great options, if your interested in Real Estate Investment. 

Here are some key things to keep in mind if you choose this route. 

1. Potential of paying the entire Transfer and Documents fee.

2. Usually there is no information on the disclosures.

 3. The sale is usually As-Is. 

4. The properties are not usually in the best shape may need some work.

Aside from these key points to keep in mind,

A sale is to be made and the earning potential is great. 

   

Economics on our "Taxes"

 

 

"Bar Stool Economics."

 

Suppose that every day, ten men go out for beer and the bill for all ten comes to $100. If they paid their bill the way we pay our taxes, it would go something like this:

∙ The first four men (the poorest) would pay nothing.

∙ The fifth would pay $1.

∙ The sixth would pay $3.

∙ The seventh would pay $7.

∙ The eighth would pay $12.

∙ The ninth would pay $18.

∙ The tenth man (the richest) would pay $59.

 

So, that's what they decided to do. The ten men drank in the bar every day and seemed quite happy with the arrangement, until one day, the owner threw them a curve. "Since you are all such good customers", he said, "I'm going to reduce the cost of your daily beer by $20". Drinks for the ten now cost just $80.

The group still wanted to pay their bill the way we pay our taxes, so the first four men were unaffected. They would still drink for free. But what about the other six men - the paying customers? How could they divide the $20 windfall so that everyone would get his "fair share?"

They realized that $20 divided by six is $3.33. But if they subtracted that from everybody's share, then the fifth man and the sixth man would each end up being paid to drink his beer. So, the bar owner suggested that it would be fair to reduce each man's bill by roughly the same amount, and he proceeded to work out the amounts each should pay.

And so:

 

∙ The fifth man, like the first four, now paid nothing (100% savings).

∙ The sixth now paid $2 instead of $3 (33%savings).

∙ The seventh now pay $5 instead of $7 (28%savings).

∙ The eighth now paid $9 instead of $12 (25% savings).

∙ The ninth now paid $14 instead of $18 (22% savings).

∙ The tenth now paid $49 instead of $59 (16% savings).

Each of the six was better off than before. And the first four continued to drink for free. But once outside the restaurant, the men began to compare their savings. "I only got a dollar out of the $20," declared the sixth man. He pointed to the tenth man, "but he got $10!" "Yeah, that's right," exclaimed the fifth man. "I only saved a dollar, too. It's unfair that he received ten times more than I!" "That's true!!" shouted the seventh man. "Why should he get $10 back when I got only two? The wealthy get all the breaks!" "Wait a minute," yelled the first four men in unison. "We didn't get anything at all. The system exploits the poor!" The nine men surrounded the tenth and beat him up.

The next night the tenth man didn't show up for drinks, so the nine sat down and had beers without him. But when it came time to pay the bill, they discovered something important. They didn't have enough money between all of them for even half of the bill!

And that, boys and girls, journalists and college professors, is how our tax system works. The people who pay the highest taxes get the most benefit from a tax reduction. Tax them too much, attack them for being wealthy, and they just may not show up anymore. In fact, they might start drinking in a state with no taxes, or overseas where the atmosphere is somewhat friendlier.

 

(Author unknown)

Tips after purchasing your new "Home"

Tips after purchasing your new "Home"

1. Update and forward your mail with USPS

2. Change your Locks

3. Locate the source of your utilities such as the Breaker Box and Shutoff Valve

2018 looks very promising, enjoy you new home.



Happy Holidays 2017

November- Closing cost national average

ClosingCorp released its latest study on closing costs. The national average is $4,876.

The highest costs are found here:

• District of Columbia, $12,573
• New York, $9,341
• Delaware, $8,663
• Maryland, $7,211
• Vermont, $6,839

ClosingCorp’s numbers includes lender and owner titles, settlement appraisals, transfer taxes, recording fees, and services such as home inspections and land surveys.

Montgomery County Senoir Tax Credit

#MontgomeryCounty is offering a Property Tax credit for Senoirs.

Information is listed below

http://www.montgomerycountymd.gov/Finance/senior-credit.html

The "Summer Market" has finally started if your thinking about buying or selling, I'm still here to help. #Maryland #MD #RealEstate #DMV #DC #Virginia #Houses#House #Home #Virginia #Buy #Sell

Happy "Memorial Day"

The simple steps toward Home Ownership.

Come and Join me for a "Home Buying 101" from 11:00am to 1:00pm on Saturday March 04, 2017

Come and Join me for a "Home Buying 101" from 11:00am to 1:00pm on Saturday March 04, 2017 at

King Farm Conference Facility

702 King Farm Blvd Rockville Md

In an effort to enhance your home learning experience

Whether you are buying, selling, looking to invest, or just curious about the current trends in the DMV real estate we look foward to hosting you.

https://averyhessrealestatelunchandlearn.splashthat.com/

Hands Down the best benefit the Military has to offer....

WHAT IS A VA GUARANTEED LOAN?
*VA guaranteed loans are made by private lenders, such as banks, credit unions, or mortgage companies to eligible
veterans for the purchase of a home, which must be for their own personal occupancy. Veterans apply for a loan
through a lender and if the loan is approved, VA guarantees a portion of the total loan amount. VA's guarantee allows
the veteran to obtain a competitive interest rate without having to make a downpayment. The amount of a loan a
veteran can be approved for depends on the property location and entitlement available, as well as credit and income
factors.

VA LOANS OFFER THE FOLLOWING IMPORTANT FEATURES:
*Equal opportunity for all qualified veterans to obtain a VA loan.
*No downpayment (unless required by the lender or the purchase price is more than the reasonable value of the
property).
*Buyer informed of reasonable value.
*Negotiable interest rate.
*Ability to finance the VA funding fee (plus reduced funding fees with a downpayment of at least 5% and exemption
for veterans receiving VA disability compensation).
*Closing costs are comparable with other financing types (and may be lower).
*No mortgage insurance premiums.
*An assumable mortgage.
*Right to prepay without penalty.
*For homes inspected by VA during construction, a warranty from builder and assistance from VA to obtain
cooperation of builder.
*VA assistance to veteran borrowers in default due to temporary financial difficulty.

VA DOES NOT DO THE FOLLOWING:
*Guarantee that a home is free of defects. VA guarantees only the loan. It is the veteran's responsibility to assure
that he/she is satisfied with the property being purchased. The *VA appraisal is not intended to be an "inspection" of
the property. A veteran should seek expert advice (a qualified residential inspection service), as necessary,
*BEFORE legally committing to a purchase agreement.
*If you have a home built, VA cannot compel the builder to correct construction defects although VA does have the
authority to suspend a builder from further participation in the home loan program.
*VA cannot guarantee that a veteran is making a good investment.
*VA cannot provide a veteran with legal services.

HOW DOES A VETERAN OBTAIN A VA GUARANTEED LOAN?
*Contract to purchase: Veteran selects home and discusses purchase with seller or selling agent and signs
purchase contract conditioned on approval of a VA guaranteed loan.
*Loan application: Veteran selects lender, presents Certificate of Eligibility, and completes loan application. Lender
will develop all credit information and request VA to assign a licensed appraiser to determine the reasonable value
for the property. Veteran will pay for credit report and appraisal unless the seller agrees to pay. Either VA or the
lender will issue a value for property for loan purposes based on the appraisal.
*Loan decision: If the established value is acceptable to all parties and the lender develops that a veteran is credit
and income qualified, the loan may be approved. Most lenders are authorized to make this decision.
*Loan closing: Veteran (and spouse) attend the loan closing and sign the note, mortgage, and other related papers.
*The lender or closing attorney will explain the loan terms and requirements as well as where and how to make the
monthly payments. When the loans reported to VA, the *Certificate of Eligibility is annotated to reflect the use of
entitlement and returned to the applicant. (The loan closing procedure may vary in some states.)

FREQUENTLY ASKED QUESTIONS

I Now Have My COE, What Do I Do Next?
*Loan Program. The figure merely provides evidence to your lender that you have full VA entitlement.
With this entitlement and underwriter approval, you can obtain a loan in an amount up to $417,000;
some high cost counties have even higher limits.

What is the VA Interest Rate?
*VA does not establish interest rates or closing costs for VA loans. Rates are negotiable between you
and your lender. It is advisable to obtain quotes from at least three different lenders.

What is the Minimum Credit Score Required for a VA loan?
*VA has no minimum credit score requirement. However, the lender you choose to do business with
may have such a requirement.

What Types of Property Does My COE Cover?
*The VA Home Loan program guarantees loans for real property that is to be used by the veteran as
a primary residence. The program does not cover vacation homes, vacant land, multiplexes in
excess of four units, motor homes, small business loans, or commercial buildings.

Can I Use My VA Entitlement to Refinance?
*Yes. You can refinance any type of loan on your property using your VA entitlement.

What is a Front Load Fee ?

If your going to sell your home in 2017, be aware of  the term "Front Load Fee".

What is the "Front Load Fee?
This is an assesstment made by the county usually for water or  sewer lines or some other type of construction. Basically the charges that were implemented on the Developer in the construction of the water or sewer lines is then redistributed to the Homeowners to pay. Collected by the county or private firm usually the cost is broken down to monthly or yearly payments for a certain timespan ranging for 30yrs at avg $300-$400 per year.

Why is this info important?
As a seller you are required to disclose this info in the contract, if this fee is not paid a lien could be placed on the property as well as the potential of the buyer suing the seller for the debt of the Front Load Fee due to the information not being disclosed.

What would cause a seller to not to be aware of the Front Load Fee?
Due to the bill being distributed from a private firm, the bill sent to customer is very vague and limited in data. Due to this some new Homeowners or Trustees (next of kin) are not aware
of this bill that they are receiving.