April 08, 2009

Luxury units in Geneva National are now starting at $239,000!

Posted to Geneva National, Mike Pfammatter

Are you looking for a spacious condominium in Geneva National? Take a close look at Cobblestone Courts. With its very attractive new pricing these units are the best value in Geneva National.

Featuring:

  • New Construction Luxury Condominiums
  • High Quality, Energy Efficient
  • 1 Year Builders Warranty
  • Each Unit has a 2 Car Garage and Private Entrance
  • Open Design, Kitchens with Decorator Cabinets & Islands
  • Granite Counters, G.E. Profile Stainless Appliances
  • Hardwood & Ceramic Floors, Designer Carpeting in Bedrooms
  • Custom Blinds, Closetmaid Shelving, and much more

Click here to see a list of the current offerings at Cobblestone Courts.

This is the perfect opportunity to take advantage of some really fantastic pricing. Come and see what Cobblestone Courts in Geneva National has to offer.

For more information on these homes or Geneva National please call me at 847-373-3336.



Posted By: Mike Pfammatter



April 02, 2009

Maybe You Can Buy That House, Dave

Posted to Mike Pfammatter

The Problem:

When Dave called he told me he was not too optimistic about being able to buy a home and stop renting. His credit was good, he had a little cash, a decent job, and was excited about the $8,000 tax credit for 1st time home buyers (see my previous blog post about this). His price range meant that a lot of the best choices available to him would be “distressed homes”.

The problem with buying these distressed properties (foreclosures or short sales) is that many times you can’t get a conventional loan due to maintenance problems that have developed as the owner ran into financial trouble. Many of the properties have needs that prevent them from passing the appraiser’s inspection.

So there you go. The house can’t be sold to the people who need it the most! A real catch 22.

One Solution:

HUD’s 203k Rehabilitation loan to the rescue. This is a loan program that allows a buyer to obtain these homes. In addition to the money to buy the property, they include the funds needed to make the necessary repairs and improvements, which are added to the loan. The lender makes payouts as the works gets completed. This program can cover needs both small and large, and can even include mortgage payments if you can’t live in the house while it gets fixed up. And you can use a contractor for the improvements, so it’s not just for the handy type.

Don’t get me wrong, this is not going to be like shooting fish in a barrel. There are a number of hoops to jump through, but it looks like a very viable solution to the problem I laid out above. Here is the HUD website complete with FAQ’s.

Give me a call at 262-348-3248 and I can send you a list of properties in your area that may be a perfect fit for you and the 203k Rehab loan.

Posted By: Mike Pfammatter