Edge Blog

It's finally here....the first time home buyer's grant offered by Jefferson County.  If qualified, this grant provides the buyer with $7500 at closing to assist with closing costs and down payment.  The interest free second is forgiven after 5 years.  The funds are limited and typically go fast.

For additional qualifying information go to www.beyondhousing.org.

This is a great program but there is work to do to qualify.  Get started today to ensure you can capture both this grant and the federal tax credit by November 30, 2009.  What a great time to buy your first home!

It's no secret that todays market is tough for home sellers.  Certainly homes are selling everyday, but with a limited buyers pool due to financing restraints and an increased supply, sellers have to bring their A-game to compete.  Below are 10 quick and inexpensive ways to prep your home for sale:

1. Remove all screens from the home.  Windows will look cleaner and brighter.  If your screens are scratched or worn, have them rescreened and ready for the new buyer.

2. Paint the front door and add a seasonal wreath.  It is also a good idea to update your shutter color as well.

3. Plant seasonal flowers in your landscape and add fresh mulch.  Add a few potted plants on the porch, patio, and deck.

4. Touch up all scuff marks on walls with a fresh coat of paint.  No need to repaint the entire room/wall unless the color needs to be neutralized.  If your walls are scuffed and marked and you do not have matching paint, it is best to repaint a neutral color.

5. Walk through each room of your house and remove one furniture item.  You are going to have to pack everything so you might as well get a jump start.  Removing accent pieces that are not frequently used will really open up your space.

6.  Make sure all light bulbs are working and open up all blinds and curtains --- the brighter, the better.

7. Add fresh flowers to your kitchen table.

8. Add mild air fresheners throughout the house.

9. Power wash exterior siding, patios, decks.

10. Take photos of your house and view them with an unbiased eye.  If the room looks cluttered or busy in the photo, start de-cluttering.  Often a photo gives you a more objective view of your home.

FHA has once again tightened up the financing guidelines in an effort to minimize mortgage risks.  Effective Sept 1, 2009 buyers must now have a minimum 620 credit score.  This is quite an increase, potentially shrinking the qualified buyer pool.  However VA loans require a minimum 600 credit score and still allow 100% financing. 

Gone are the days of purchasing a home on a wing and a prayer.  As a future home buyer, buckle up your budget, save money, reduce debt, and work on improving and maintaining a solid credit score.  For helpful tips on quick credit score fixes check out this link: http://articles.moneycentral.msn.com/Banking/YourCreditRating/7FastFixesForYourCreditScore.aspx