Maui 2008 Pics!

Here are some pictures we took in Maui...enjoy!In Lahaina right before Warren and Annabelle's (a comedy and magic show...a must see in Maui!)

Waterfall on the Road to Hana...

The island of Maui behind us.
Sunrise at Haleakala Crater.
You can see the Road to Hana on the hills behind us.
An amazing sunset from the beach.

Best Time to Buy? Just Look at the Market.

So when do you buy stocks? Simple question right...best answer, when there at the lowest point and just before they go up. That's how you make money in the stock market. Well, how do you get a good deal on a home? Answer: Buy when the markets are down, but signs point to an upward rise.

Before I go into this, I want to shed some light on what makes a home go up in value. Sure land value goes up but the desire for homes is the true appreciation. What do I mean? Well the more buyers that are on the market buying homes the more you can list your home for and the greater price you can get, which in turn fuels the market and creates appreciation.

So now that you understand that, I want to point out an article that just hit the Seattle Times yesterday. The title was "King County home prices slide again, but more people are buying". What does that tell you...well it tells me that we may have hit the bottom. Pending sales means one clear thing...more buyers! This is great news for the market.

In September, sellers accepted buyers' offers on 1,767 houses, up nearly 15 percent from September 2007.
October 7, 2008 By Eric Pryne, Seattle Times business reporter

All the real estate agents I have worked with say that it is getting harder and harder to get sellers to negotiate on purchase prices because of multiple offers on homes. As soon as the market begins to swing with more buyers...watch out. It is going to get competitive out there. So strike now while the irons hot. Find out what your financing or rent-to-own options look like and get into a home now at the low point in the market!

Bailout Making it Harder for Loans ... or Helping? (PART 2)

With all the changes to this bailout plan (we spoke last week on how this will affect our economy and financing options) what will your financing options look like? Right now they have definitely tightened up guidelines but you know what the secret is...you still have the ability (more than ever) to get into a home and into financing.

I would bet that most of you have completely written off your chances of getting into financing, especially with all the lenders tightening up. To some extent that's true, many lenders have over regulated and some are completely gone, but others have become even more competitive! Namely the Federal Housing Administration and the Dept. of Veterans Affairs (aka, FHA and VA), these lenders have loosened up there guidelines to help homeowners. What!?! CNN didn't say that!

These loan options are now available for borrowers with low credit scores and past blemishes. That may be you...but how would you know without calling and finding out. Do you want to get into a home? Yes / No (circle one). If you do, then what have you done to take that next step. What are you waiting for...lower prices on homes...sellers are motivated! Lower interest rates...lowest they have been in the past 5 years!

Don't let the media deter you away from looking at your options. We help all forms of clients, through conventional financing, FHA, VA and if none of those will get you into a home, Lease Options can. I rarely find a client that we are unable to help!

So if that's you and you want to experience homeownership, give me a call and we can look into your options. You may be surprised what you can get.

Bailout Making it Harder for Loans … or Helping?

By now I’m sure that most of you have heard of the recent government bailout plan that is being worked up. At first it was a limited condition plan for over $700 billion, well that has died and is now being worked up in a revised version. So how will this affect you?

Well, first you have to understand the reason why…why is the government spending $700 billion right now when our economy is hurting? Well the simplest answer is that if they don’t step in, we would see a complete destruction of the economy, even from its current state.

As it stands right now, lenders are (out of necessity) tightening up there guidelines on their loan programs. I’m sure you have experienced this if you have tried to qualify for a home recently. This is one of the main reasons for the government’s actions; plus they need to bailout these companies and get some bad “paper” off there books. Therefore taking the pressure off of the companies and opening up the market to encourage growth.

Now, don’t think that the government is just paying some money to get companies back on their feet…oh no, they are taking over assets as a result. The biggest assets will be existing home loans. They are taking over current homes that may be in default. Now how they treat these defaulted loans is yet to be seen…and will determine the future direction of the economy.

So for now, it would appear that this will help benefit our economy (as seen from today’s stock market gains). The most important thing is that it should free up some lenders to start lending money…but you can be sure the guidelines will still be tight. Not as tight as they have been over the last 12 months, but tighter than they have been in the distant past.

I want to let you in on a secret…actually I have completely run out of space, so I will have to let you know next week. Sorry ;)

Benefits of Having a Real Estate Agent Represent You!

In the world of companies like MLS 4 Owners and Redfin, the do-it-yourself buyer and/or sellers have been popping up everywhere, worse than the dandelions in my backyard! But does this direction really save you money as once thought?

Well, let’s think about it…if you were to get sued for $300,000 would you protect yourself or hire an attorney to protect you? I don’t even know if I have to ask this question, we all know the answer…you would hire the professional to protect you! So why would you not do the same with the biggest purchase in your life?

From the listing perspective…

Usually what I hear from clients that are listing their home is that they want to save money. On paper this makes sense; with a listing agent costing upwards of 3% plus you have to factor in the buyers agent for an additional 3%, your now forking over a grand total of 6% in fees? Ouch, right! Let’s look at the alternative.

Consider this, on average FSBO (For Sale By Owner) homes sell for an average of 6% less than homes listed by a real estate agent. So using an agent literally pays for itself, not to mention the legal protection that you are receiving through the negotiation process and finalizing the paperwork.

From the Buyers perspective…

Well, this is an easy one…you don’t pay for it! Remember in the previous paragraph I said that the listing agent has to factor in the buyers agent cost, yes…this is your agent if you’re the buyer. So when you buy a home using an agent, the seller is paying your agent! You’ve gotta love that.

Again, since this is no money out of your pocket for this protection, why would you not want it, however, it amazes me how many people still list and buy without an agent. It could get you into serious trouble.

Now, quick plug for me as well, the same applies to using the right mortgage broker. Do you choose to use someone that has withstood the test of time in the industry and has your best interest in mind, not to mention the best programs on the market? Or someone that sits behind a desk and gets paid whether they close your loan or not? I’ll let you decide.

If you have any additional question about the buying or selling process, feel free to send me an email. I always love to answer questions!

Also, if you can think of any other benefits of working with an agent post them on my blog. I would love to hear your prospective!

Pre-Qual vs. Pre-Approval; What’s the Difference?

I would bet that if I asked 100 different buyers what the difference was between a pre-qualification and a pre-approval, I would get close to 100 different answers. So what really is the difference? Which one is better? Who does it come from? What’s the importance of having one vs. the other…let me try to answer your questions?

Pre-Qualification

Let’s start with a pre-qualification (more commonly know as a pre-qual) since majority of loan officers will refer to this. A pre-qual is typically given by a loan officer to a client as the personal qualification for financing. This does not mean that you have been approved for financing or even that you will get financing.

This is actually a common mistake when shopping for a loan. Many loan officers will offer pre-quals, in some cases just to get your business. But you have to be cautions that you do not interpret this as your approval. It is simply a loan officer’s educated guess.

Pre-Approval

A pre-approval is simply a full approval with conditions attached. This means that your file has been either submitted to an underwriter or run through an automated underwriting system. After doing this you would receive your “pre-approval” with a list of conditions that would need to be met in order to close the loan.

With a pre-approval, there is no more “educated guessing” involved. You now know that your loan has been approved and as long as you can satisfy the conditions listed, you will typically close the file. Just remember that you should ALWAYS request a pre-approval before committing to a loan officer or even a loan for that matter. Otherwise you may get started in the process only to find out that you do not qualify for financing.

Conclusion

So hopefully this simplifies the differences a little for you and now that you know what to look for, you will be more educated about the process. Each loan officer has different levels of experience to navigate through the mine fields of the financing process, so it’s critical to work with a loan officer that knows what they are doing. If you have any questions feel free to give me a call, I am more than happy to help.

Mortgage Industry Tightening Up?

I saw an article the other day in the Seattle Times, maybe you even saw it yourself. The article was talking about how the mortgage industry continues to tighten up; it went into detail on all the changes in the market today.

I would bet that you may even know of someone who has been impacted by all the changes in the mortgage industry, maybe even you have been affected at one time or another.

Well, I guess the main reason I mention this is because I still work with clients who are amazed that our company is able to help them get into a home. They always say how they thought there was no hope for their situation. Usually it’s as a result of low credit scores or a past bankruptcy, etc, but they fully believe in their mind that they will have to continue renting for a long time.

This is just not necessary. I have helped countless clients get into a home through our rent to own program (If you would like more information on this program click here (www.empireoptions.com) but even more amazing is how many clients I have helped out with standard financing. There are so many mortgage brokers that will turn down potential homeowners without even giving them a fair chance, all due to credit issues and past blemishes.

My advice is don’t let the fear of what the media says about the mortgage industry stop you from reaching your goals of homeownership. If you desire a home of your own, feel free to give me a call and we can look into your options, I promise to explore every possibly scenario for you.

New Tax Credits for 1st Time Homebuyers!

Hi! I have a big announcement that I wanted to share with you. Have you heard about the new tax credits for 1st time homebuyers? If you haven’t, you could be missing out on up to $7,500.00 in tax credits for your 2008 or 2009 tax returns!

The first thing you may be asking is how can you tell if you are considered a 1st time homebuyer? Well, that’s easy, if you have NOT owned a home in the last 3 years, then you are a 1st time homebuyer. So if that’s your case…listen up!

A new home-purchase housing bill approved by Congress and signed by President Bush will allow for major tax credits for 1st time homebuyers purchasing a home between April 9, 2008 and June 30, 2009. What this means is that if you have not owned a home in the last 3 years or are thinking of purchasing your very 1st home AND can close before the end of June, 2009, you may be eligible for up to a $7,500.00 credits on your federal taxes for 2008 or 2009 ($3,750.00 if you file as a single person)!

Example: You owe $2,500.00 for your 2008 taxes, but you also purchased a home with you spouse. With the maximum tax credit of $7,500.00, you would now be receiving a $5,000.00 credit back from the IRS! (Since the tax credit is considered “refundable” if you owe the IRS less than what your credit would be, you would receive the difference back from the government in the form of a refund.)

How does it work?

So you may be curious how it all works and what the guidelines look like, or maybe like me you are a little skeptical…well here’s a quick overview of the final form of the bill.

- Any home restrictions? No, you can choose any house type, amount, size…anything. There is no regulation on the type or price of the home you would be purchasing. As long as the home is purchase by a 1st time homebuyer between the designated time period, you will receive the tax credit.
- Who is eligibly? – Any first time homebuyer purchasing a home between April 9, 2008 and June 30, 2009.
- Are there income limitations? Yes, if you make over $150,000 per couple or $75,000 per single the tax credit maximum of $7,500.00 will begin to phase down in increments.
- Any other restrictions? Yes, you are not eligible if you are an illegal immigrant or have financed the property using a state or local housing agency tax-exempt bond mortgage or do not plan to use the house as your principal residence.

Do you have to payback the credit?

Unlike some other credits that are available this one will be required to be paid back, however it will be over an extended period of time. Starting in the second tax year after your purchase and continuing for up to 15 years, taxpayers are expected to make pro-rated repayments to the government on their federal filings. Over a 15-year payback period for the full $7,500.00 credit, the cost would only be $500 a year.

Ultimately, the new tax credit is very much like an interest-free loan for up to $7,500. You pay the principal back in increments over time, but there's no interest charge to you.

How can you claim the credit?

Well, that’s the easy part. After you have purchased the home and met the guidelines as an eligible borrower, you would just request the credit on your 2008 or 2009 tax returns. It’s that simple.

If you would like more information about this great program for 1st time homebuyers you can also go to http://www.federalhousingtaxcredit.com/ or give me a call and we can discuss your options.

Is Now A Good Time to Buy a Home?

I get this question a lot from clients, “Is now a good time to buy a home, or should I wait?” Well, now more than ever is a great time to buy a home. Whether you are purchasing a home on your own or getting into a lease option, I will show you how you can take advantage of a great market!

When you buy stocks what strategy would you use to get rich, buy high and sell low or buy low and sell high? The same applies for real estate. You see, when everyone was buying homes left and right 2 years ago…it created a sellers market, meaning sellers could get almost anything they asked for on their home, this is the worst time to buy a home.

However, when homes are sitting and sellers are motivated, then the market becomes a buyers market, meaning that buyers now have the control. The control for what…well to get a deal! I will give you a recent example of a lease option that we just completed. The client that we were helping purchased a home, using a lease option, at $260,000. However the home is worth $325,000 easily, maybe even more. You see the seller was also a builder and was extremely motivated to get rid of the property.

Now when our lease option tenant qualifies for financing 2 years from now and purchases the home, even at a 10% markup ($286,000) they will have over $39,000 in equity, even if the home doesn’t appreciate a penny! So you can see that this market works for home buyers and lease option tenants alike.

So if you’re sitting on the fence and thinking that this market is something to stay away from…its time to think twice! To see what kind of deals you have available in your area, send us an email or give us a call and we would be more than happy to help you out.

Our Wedding Day! 4 Years ago...

The 4 Top Questions About Credit Repair (Part 2)

How long can it take to remove items?

Well, each client’s individual credit report is different so each timeline will be different as well.

Lexington Law says:
Statistically, our participating clients have seen an average of 8.7 deletions (or 25.7% of their presenting negatives) from their combined credit reports by month 3, and 28.6 deletions (or 84.7% of their presenting negatives) by month 12.

Can you imagine what 28 deletions would look like for your credit score? That’s a HUGE difference! It’s definitely the difference between getting into a house or not and even more, how many of your other bills could you renegotiate a lower interest rate on if you had a higher credit score, think about that.

Still with me…ok, one more.

Can you repair your own credit?

Yes, you can. But the bigger question is do you want to? You have the legal right to fight the credit agencies yourself. Think of it like this…you have the same right to represent yourself in court, but would you want to?

Most clients choose to have a credit repair company represent them simply because of the company’s knowledge and experience in dealing with the credit bureaus. Specifically, Lexington Law consists of paralegal attorneys that fight your credit for you. So just like having a lawyer represent you in court…you have a lawyer representing you in your fight with credit.

Lexington Law says:
Another factor to consider is the amount of time and follow-up required to coordinate disputes with all three credit reporting agencies and the creditors appearing on your credit report. Lexington Law has systematized the disputation of questionable credit through a trained staff of lawyers, paralegals and legal assistants, all using state of the art technology.

Ok, so hopefully that answered some questions that you may have about credit repair. I have tried to address the main questions that I get from my clients. I know that I can’t put them all down in this email, so if you have any specific questions, feel free to email them over to me. I will do my best to answer them right away.

Lexington Law Information:
https://www.lexingtonlaw.com/SecureSignUp/?tid=662.0.10608

Stretching Your Limits!

Do you find it hard to get out of your comfort zone and stretch your limits? In case you don't know...I am not a big fan of heights. I have experienced different activities in the past that pushed my limits of heights (Hiking, Parasailing, Hot Air Balloon Ride)...but one recent activity last weekend topped them all. It was a great experience that tested my fear, endurance, and definitely pushed my limits.

On Vancouver Island, about one hour north of Victoria they have what is called Wild Play Parks. Their obstacle course is called “TreeGo”. It is an Aerial Adventure Tree to Tree Course which is an elevated obstacle course set in a beautiful Douglas Fir forest and securely suspended between the trees at 10 to 50 feet off the ground! Some of the elements of the park include zip lines, suspended bridges, scramble nets and swinging logs.

This activity is a definite “must do” and was a great experience because it pushed my limits and got me out of my comfort zone.

Opportunity for Low Credit Score Borrowers with FHA

You know, lately the word on the street is that if you have slightly bad credit you will be unable to qualify for financing. Whether you’re doing a purchase of a new home or refinancing your existing loan, if your picture is less than perfect you’re out of luck. Well, now you have a solution!

Up until about 6 – 8 months ago I may have agreed with you, to some extent that the market was gone or is going away for “sub prime” borrowers. But now in today’s new lending environment the government, of all organizations, has stepped in to offer a solution.

FHA, also know as the Federal Housing Administration, is now the official reigning champion over the sub prime lending industry. They offer lending solutions for borrowers with less than perfect credit. However, the highlight of using FHA for financing is the range of service that they offer.

For example, if your not quite sub prime but you’ve had a few blemishes in the past, FHA just might be the solution. With an FHA loan you can have access to the same competitive pricing that “Prime” conforming borrowers have but without being concerned about fitting in a qualification box.

The truth is that I have more and more clients that come to me looking at their options for a rent to own that end up getting pre-approved for FHA financing. Now they are able to purchase a home of their own when they never thought they could even qualify in the first place.

FHA loans are a true manual underwriting process, which means that if the loan makes sense to the underwriter, they will approve you. There actually are very limited guidelines and each loan is on a case by case basis. You need to work with a good Loan Officer that is familiar with FHA and the process of getting you approved.

It would be very difficult for me to write out each thing to look for with an FHA loan, so if you have questions about utilizing this loan for you, feel free to give me a call and we can discuss your options.


Dedicated to your financial success!

Kenton Becker
kentonb@empireoptions.com
Managing Partner / Land Home Financial Specialist
License # 510-LO-36929
http://www.empireoptions.com/

Renters insurance: Part 2, additional benefits

So last week I talked briefly about why it’s important to have renters insurance, hopefully I convinced you that it’s a good idea. But if your still not convinced that you need it, let me give you a few more benefits. I guarantee there’s a couple you haven’t thought of.

Basic home insurance policies are typically known by a number. For example HO-4 is the standard number for Renters and HO-6 is the standard for condo owners and each covers losses to your personal property from 17 types of risk:

Fire or lightning
Windstorm or hail
Explosion
Riot or civil commotion
Aircraft
Vehicles
Smoke
Vandalism or malicious mischief
Theft
Damage by glass or safety-glazing material that is part of a building
Volcanic eruption
Falling objects
Weight of ice, snow, or sleet
Water-related damage from home utilities
Electrical surge damage

Some items that are not listed that may require you to get additional policies to cover are earthquake and flood. Now earthquake might not be as big of a deal in our area but depending on where you live, flood might be something to think about. So keep this in mind when you contact your agent.

Also, when you are shopping for renters insurance make sure to look out for the words ACV or “Actual Cash Value”. This basically means what it says, if you purchased something for $500 5 years ago, chances are it has less of a value now. So with ACV coverage you would only get what the current value of the item is worth. It is best to get “replacement cost coverage; this on the other hand, will pay for what it actually costs to replace the items you lost.

Additional Benefits

Here are some additional benefits that you wouldn’t normally think of:

Lets say your home becomes unlivable due to a fire, burst pipes or for any other reason that is covered by your policy, renter's insurance will cover your "additional living expenses." This means your insurance will cover the cost to live somewhere else temporarily while the problem is being fixed.

Here’s another benefit, if you own a waterbed, a waterbed liability provision is standard in most policies, according to Mike Binns, personal lines underwriting manager for Farmers Insurance Co. If your waterbed bursts and the water ends up in the apartment below yours, renter's insurance will cover the damage.

My favorite benefit is the liability coverage. I guess this is my favorite because it is so likely to happen to anyone. If someone in your apartment slips and falls, you're covered for any costs, up to your liability limit. And if this person should choose to sue you, you're covered for what they win in a court judgment up to your policy's limit, along with legal expenses, too, because, according to Binns, your insurance company agrees to defend you under your liability protection provision. Copyright insure.com. All rights reserved.

Well, hopefully I have convinced you by now that renters insurance should be something you put on the top of your priorities to get. And best of all, its cheap to obtain. Were talking FREE in some instances, if you don’t know what I'm talking about, go and look at last weeks article.

I’ll see you next week!

Dedicated to your financial success!

Kenton Becker
kentonb@empireoptions.com
Managing Partner / Land Home Financial Specialist
License # 510-LO-36929
http://www.empireoptions.com/

Renters Insurance, don’t get caught without it.

It truly amazes me how many clients I work with who do not have renters insurance on the home / apartment that they are renting. But most of them don’t truly feel like it is a good use of their money, so for that reason they don’t find the value in it. It really needs to be something that you make as important as car insurance, life insurance or health insurance.

There are so many benefits to having renters insurance vs. not having it. Plus the cost is amazingly cheep. In fact I would bet that if most of you put your car insurance with the same company that you would have renters insurance through, you’re savings on grouping them together would literally make it a free service.

Talking with my friend Kevin Hauglie with Hauglie Insurance, he says that most clients that he works with that put there auto and renter’s policies together are able to get a large enough discount on the auto insurance that their renters insurance is practically FREE! Let’s face it, renters insurance by itself is only about $15 per month! So were not talking about a lot in the first place.

I think the real problem is that most renters don’t really know that they need it. They think that if a fire is started in their home / apartment then the homeowners insurance would cover it…wrong. If you cause the fire then you would need your own insurance to cover the costs. This could be a very costly mistake to make…even if it was a small fire, the cost can add up quickly.

This is the one that always gets me, renters insurance covers personal items stolen from your home or in some cases even your car! This means that if you have someone who breaks into your home or car and steals your personal items (items that are not attached to the car) then your renter’s insurance policy will cover that. SO how many of you have had your car broken into? I’m sure a lot!

Here’s the biggest one in my opinion, renters insurance will cover your liability. Let ma ask you a question…if anyone steps foot on your property and trips or falls or has an accident of any kind and decides to sue, who would cover it? Don’t point the finger at the landlord…in most contracts it says that you must hold them harmless. The responsibility would fall on you! In the sue happy environment we live in…this is becoming more likely of a scenario.

So you have to think, is it really worth it to NOT have renters insurance, especially since we stated earlier that it could be essentially FREE! Why would you not have it? Protect yourself, your family and all the things that you have worked hard for. Get renters insurance.

If you have more questions about renters insurance covers and the cost and additional benefits, shoot me over an email to kentonb@empireoptions.com, I can get you in contact with Kevin Hauglie. He is by far one of the best insurance agents that I have come across and he has been doing these successfully for over 20+ years. Amazing! So just let me know and I will make sure you get well taken care of.


Dedicated to your financial success,

Kenton Becker
kentonb@empireoptions.com
Managing Partner / Land Home Financial Specialist
License # 510-LO-36929
http://www.empireoptions.com/

Things My Mother Taught Me

I thought it would be fitting to dedicate this week’s email to all the wonderful Mom’s out there. So in honor of Mothers Day, I have put together a list of all the things that Moms have taught us growing up. I hope you enjoy it.

Our Mom’s taught us…

LOGIC..."If you fall off that swing and break your neck, you can't go to the store with me." MEDICINE..."If you don't stop crossing your eyes, they're going to freeze that way."
TO THINK AHEAD..."If you don't pass your spelling test, you'll never get a good job!"
TO MEET A CHALLENGE..."What were you thinking? Answer me when I talk to you...Don't talk back to me!"
HUMOR..."When that lawn mower cuts off your toes, don't come running to me."
BECOME AN ADULT..."If you don't eat your vegetables, you'll never grow up. GENETICS..."You are just like your father!"
ROOTS..."Do you think you were born in a barn?"
WISDOM of AGE..."When you get to be my age, you will understand."
ANTICIPATION..."Just wait until your father gets home."
Best of all JUSTICE..."One day you will have kids, and I hope they turn out just like YOU…then you'll see what it's like."

I want to say Happy Mothers day to each mom that is receiving this. We all appreciate everything you do.

Happy Mothers Day!


Dedicated to Your Financial Success,

Kenton Becker
kentonb@empireoptions.com
Managing Partner / Land Home Financial Specialist
License # 510-LO-36929
http://www.empireoptions.com/

Is Your Bank Qualified to Work With YOU?

Hi there. It’s Kenton again. I want to share something with you, something that you may not be aware of. It may even be something you have never heard of until now. Is your bank or loan officer qualified to work with you? Now, some of you may immediately say, “Yes, but my credit is shot; I don’t have a down payment and so on”. My next question is, “who told you your credit is shot, who told you that you don’t have enough down payment?”

I’m guessing the bank or loan officer told you this. So how do you really know if your bank or loan officer is qualified to work with you? Not all loan officers and banks have the same access to programs, and these programs (that you may not be aware of) can help you get into a home today, rather than go through a lease option.

I deal with many clients that come through our lease option program convinced that they are unable to qualify for financing and honestly for some of them that may be true. But I also find that there are many that fit a variety of loan programs that we offer. Now, I must admit, I am a loan officer and I do work for a Bank / Brokerage but the difference between us and them, is the variety of service that we can offer our clients. Seriously…we can help everyone from the “really” qualified conforming loans, to the FHA government loans, VA loans, 1st time homebuyer state regulated loans…and yes, if you can’t get financing, the lease options. In fact there are not too many clients I come across that we can’t help.

So based on this information, have you really given your credit a shot, or your down payment. Did you know that there are loan programs out there that have less than $500 down payment (did your loan officer tell you that?) Or how about no credit score requirement? These are all different tactics that I use to help each of my clients achieve home ownership.

So don’t take “no” for an answer. Make sure you explore all your options before you settle with a solution. Remember, if you have any questions I’m here to help, I think you will find that I am more than qualified.

Dedicated to Your Financial Success,

Kenton Becker
kentonb@empireoptions.com
Managing Partner / Land Home Financial Specialist
License # 510-LO-36929
http://www.empireoptions.com/

Rent Vs. Buy – is that a question?

Each new client that I first meet always raises the question, “does it make more sense to rent or buy a home”. Now just so were clear, when I say “buy” I am also talking about Rent to Own; I view it the same way. The answer is that each client doesn’t get the same answer.

So how do you determine in buying vs. renting, which one is a better deal. Well, there are many factors that change each person’s scenario. From a financial stand point I have found a great website that may help you determine financially which way to go is better. Go to http://www.eloan.com/s/rentvsown/input, this is a very easy to use and understand calculator that factors in many different numbers.

Now, with finances aside, I have said it before and I will say it again, there is so much more to home ownership than finances. If you look at homeownership from just a financial standpoint, you may or may not find the answer that you were looking for, but if you look at the whole picture, each time homeownership will win hands down.

I just finished a four part series on the benefits of lease options and one of the greatest benefits was the fact that you own the home! I will bet that most of you who run the calculator will find that financially it makes more sense to own a home…but I can guarantee that homeownership will meet the needs of your family more than renting.

So go to the calculator and plug in your information, you can also play with the numbers on the right side of the page. This will give you the ability to see how each number will be affected by the outcome. Check it out and let me know what you came up with.


Dedicated to Your Financial Success,

Kenton Becker
kentonb@empireoptions.com
Managing Partner / Land Home Financial Specialist
License # 510-LO-36929
http://www.empireoptions.com/

My Favorite Benefit…It’s YOUR Home! Fourth Benefit of Lease Options.

Well, I have saved the best for last in this 4 part series. In my opinion and also most of our clients, the greatest benefit to lease options is that the home is YOURS! When you are living in a rental, subconsciously you know that the home is someone else’s, your landlords to be specific. But with a lease option, you picked the home, you negotiated the price of the home…and you move into the home.

The home ownership mentality is so powerful that once you experience it…there’s no turning back. Just talk to any homeowner that has had to rent in the past and they will tell you that there’s nothing like it. So you don’t like the color of the walls…paint them. You want a new kitchen…remodel it. When you own your own home you have the ability to make these decisions.

Now, here’s the other nice thing about being in your own home. How many of you have ever been kicked out of a rental by the landlord? It happens all the time, the landlord needs to sell the house or they just want to get a new tenant. I have even seen landlords change the terms on the lease just to tick off the tenant enough that they would want to leave. With lease options you won’t need to worry about that happening. Since you have the option to buy this home within 2 years; this gives you exclusive rights to it. And no landlord can take that away from you.

So if you have only dreamed about homeownership, its time to start making it a reality. All of the other benefits that have been mentioned are great and on a financial level very attractive…but this is the only one that hits on an emotional level. Provide the home that your family has always wanted.

Reply to this email, give me a call or visit our website at http://www.empireoptions.com/, if you have any questions about how our program can help you and your family get into a home today.

Dedicated to your financial success,


Kenton Becker
kentonb@empireoptions.com
Managing Partner / Lakemont Mortgage Specialist
License # 510-LO-36929
http://www.empireoptions.com/

Rents Are Increasing…Has Yours? Third Benefit of Lease Options.

Rents are increasing nationwide…have you been affected yet? If you haven’t you will. Come on, is it really that hard to imagine, its all about supply and demand. With the mortgage crunch more and more individuals are turning to rentals rather than home ownership. This creates a great demand for rental properties and landlords know this! So now they can charge more and get away with it.

Well don’t be a statistic anymore. Just in case your wondering what the numbers look like…here they are.

Last year, the average rent in King and Snohomish counties for all apartments rose 8.6 percent, reaching $1,012 in the fourth quarter of 2007, according to the most recent report from Seattle-based Apartment Insights Washington, which surveys 150,000 apartment units on a quarterly basis. Over the past two years, since the first quarter of 2005, rents have climbed 16.7 percent.

Copyright © 2008 The Seattle Times Company

When I look at that, I am shocked! I don’t understand why so many people continue renting when it costs so much. Now some of you may be thinking $1,012 per month is pretty cheep…but their talking about apartments. If that were a Single Family Home at $1,500 per month, it would have climbed $250 to $1,750! That’s amazing!

It’s time to stop renting and start putting your money to work. Lease options are a great tool to do this. Your payment is fixed the whole time you are in the home and just like a mortgage it is applied to paying off the balance each month. I don’t know about you, but I would rather put my money into something that is mine rather than putting it in the landlord’s pocket.

Some of you may think, “Well I can’t qualify”. I would bet that most of you are paying rent close to what you would pay for the same home in our Rent to Own program. If you don’t believe me, just give me a call and we can run the numbers to find out.

Hopefully I will hear from you soon and we get you into the home that you choose for your family.


Dedicated to your financial success,


Kenton Becker
kentonb@empireoptions.com
Managing Partner / Lakemont Mortgage Specialist
License # 510-LO-36929
http://www.empireoptions.com/