Investment Property Opportunity and F.H.A. Loans

Investment Opportunity:

With the volatility of the stock market, many investors are looking for places to put their money that is safe and secure. According to the WSJ, gold and land continue to be good sound investments that in the long run hold their value during market down turns. This weeks feature listing offers just that opportunity. These two tract located in Prince Edward County just across the Nottoway line have 22 year old planted pines. In addition, there's lots of trails throughout the property for recreational riding and abundant wildlife. The properties consist of both an 80 and 125 acre parcel and can be seen on my United Country website.


F.H.A. Loans:

Last week I had lunch with a VCU classmate who is an underwriter for a large national bank that is contracted with FHA to underwrite their loans. My friend James tells me that lots of people including Doctor's and other professionals qualifying for these loans. You don't have to be a first time home buyer either. There are qualifications and loan limits depending on the area (or county) you live in, but out here in the rural areas, most properties will qualify.

Most FHA loans are 3 1/2% down and no PMI. In addition, there is also VHDA loans for those that qualify which he refers to as "Bond loans" that act as a second mortgage and can be applied to the down payment.

For more information, send me an email sms@embarqmail.com or check with your local loan officer that deals in these type loans.

Feature Property and MORE news about Tax Credit

Feature Property:

This weeks feature home is nestled among open fields, an orchard and surrounded by mature hardwoods. Very private. This like new home has all its living space on one floor and is very handicap friendly ie. wide hallways and doorways. Hardwood floors through the house. Full walkout basement with bath. More details on my United Country website. Click on and check it out.

Apply the $8,000 tax credit to a downpayment

Just in case you hadn’t heard: If you’ve got a first-time buyer on your hands who’s drooling over the Obama Administration's $8,000 tax credit, there’s even more incentive. VHDA has announced a new bridge loan product that will allow homebuyers to apply it to their downpayment.

It's called the Homebuyer Tax Credit plus Loan Program, and it's not an entirely simple thing. It acts as a "built-in second mortgage that allows borrowers to receive up to five percent of the home's sales price, which can help cover down payment and closing costs," according to VHDA.

Buyers need to close on the loan by November 20, 2009, and — as you might expect — there are various demons lurking in the details. Get the full scoop the VHDA Web site: www.vhda.com.

Chinese Drywall delima and Feature of the Week

Feature Property:

This property is located 206 Peach St. in South Hill in the Hollydale Subdivision. Like new with hardwood floors, high ceilings and spacious both inside and out. Go to my United Country website and click on "residential" under categories. This is a must see property.






The Chinese are up to it again:


That's right, they have flooded the market with toxic drywall (sheet rock), during the height of the home building era (04 to 06) when US manufacturer's were in short supply. According to the WSJ, "The odors, respiratory complaints and corrosion blamed on drywall from China used in American homes may have been caused by the failure to remove sulfur and other contaminants from synthetic gypsum, according to Chinese experts in building materials".

Complaints have been registered in 19 states so far and the removal can be costly. If you built during that time or did some remodeling and you are noticing a "rotten egg odor" you may want to have it checked out.


For more information, you can go to the WSJ.com (Wall Street Journal) and search Chinese Drywall by James R. Hagerty or email me and I will scan the article and send it to you.


Thanks for reading my blog.

New Auction

My first big auction with Counts is scheduled for July 25.

47.73 acres near Chase City divided into 3 parcels. The properties already have septic and well installed. The shop/dwelling is really cool.

Go to http://www.finneywood.com/ for all the details.


I'm sure everyone has heard about the $8,000 tax credit that Uncle Sam will give you on a home purchase. Well, get this - Citizens Bank and Trust in Blackstone is offering 5 to 1 matching grant money up to $10,000 for first time home Buyers. There are a few hoops to jump through, but not a big deal. You can contact a loan officer at Citizens or drop me a note and I will get someone to get in touch with you. It is absolutely the best time I have seen in a long time to purchase a home. The deals are out there and there is some nice inventory available. Go to my United Country website and check it out.

Hope everyone has a great 4th, and if you meet someone in the military, don't be bashful - go up and thank them for serving our country. I have done it several times and it makes them feel good - you will feel good too!