Assist2Sell

Some soldiers in Iraq and Afghanistan had a happier holiday thanks to the local Assist-2-Sell office.  Doug Howell, Diana Hacker and Jean Howell, owners of Assist-2-Sell Buyer Seller Team, asked O'Fallon residents to support American troops by helping to create holiday care packages. More than 100 households responded by donating hundreds of items, including snacks, toiletries, games, music CDs, movie DVDs and more. The care packages were sent to soldiers in Iraq and Afghanistan in time for Christmas.

"We wanted do something to say ‘thank you' to the men and women who are serving our country, and the holidays seemed like a good time to let them know we were thinking about them," said Doug Howell.

Added Diana Hacker, "We were really happy to see so many people from our community come together to show their support for our troops."

If you would like to join Assist-2-Sell and show your support for American troops, visit www.anysoldier.com. This Web site is an easy way to send care packages to soldiers who are overseas.

Assist-2-Sell Buyer Seller Team is owned and operated by Doug Howell, Diana Hacker and Jean Howell. They opened the O'Fallon, Mo., office in July 2002. Assist-2-Sell, North America's Leading Discount Real Estate Company^SM, provides home sellers with full brokerage services for a low, flat fee, saving consumers more than $800 million in commission.[1] Homebuyers also have access to a full range of services, including Assist-2-Sell's exclusive listings databases. All brokers and agents are fully licensed and REALTORS®. On the Net: www.buyersellerteam.com.

[1] Savings based on statistics since January 1, 2000, for all Assist-2-Sell offices in North America compared to paying six percent commission. Six percent used for comparison purposes only. Commissions may be negotiable and are not fixed by law.

Elisa Mullins, owner/broker of Assist-2-Sell Premier Realty in Brentwood, Mo., was recently interviewed for an article about buying a home in today's market.

February 1, 2008
San Jose Mercury News
Cover - Mortgage math for today's market
Pinpoint the right type of loan for you
By Charles Scutt Content That Works Features

Thinking about buying a new home but suffering from pre-borrowing anxiety? Despite the subprime mortgage meltdown, tighter lending restrictions and widening foreclosure fears, the American dream of home ownership still is attainable so long as you know what to expect in the current mortgage loan climate.

The good news, according to Michael LaCour-Little, a finance professor at California State University-Fullerton, is that most borrowers those with good credit and some down payment or significant housing equity should not have difficulty obtaining financing today. It's the no-money-down loans to borrowers with weak credit that will be very hard to come by.

Elisa Mullins, a broker and owner of Assist-2-Sell Premier Realty in St. Louis, Mo., says that the average borrower can weather the current financing storm, especially if she or he has good credit, which typically equates to a credit score of 680 or higher.

They have the opportunity to be in the driver's seat and take a proactive approach toward their future to include buying into the American dream, Mullins says. The credit-worthiness of the borrower will secure favorable financing in today s market. That will open the buyer to a lot of different mortgage products that are not available to credit-risky borrowers.

Nevertheless, today's borrowers will have to prove that they can repay a loan without any problems, says Gavin Susman, COO of Sky Development, Inc. in Florida. They will have to abide by Fannie Mae s guidelines for debt-to-income ratios utilizing documented income. Gone are the days where you could get away with providing a letter from your employer stating how much you make.

Instead, you'll need to provide pay stubs with W-2 forms or tax returns, Susman says. If your income is not documented and you have bad credit, you will not be able to secure any mortgage unless you are financing no more than 70 percent of the value of the property, he says. Even then, you may have a hard time getting the loan.

Additionally, you can anticipate having to pay higher interest rates nowadays if you seek a non-conforming loan one exceeding $417,000 says LaCour-Little.

What's more, says Mullins, you should expect to have around 5 to 10 percent of the purchase price saved. If you cannot get the seller to credit the pre-paids and closing costs, then you will need to have an adequate down payment, the amount of which is contingent on your creditworthiness.

With lenders adding more restrictions, be prepared to pay more in borrowing fees as well, says Mullins. With fewer lenders out there today than in years past, it makes it more competitive among lenders. The fees will go up naturally as a result.

On a side note, while there may be fewer lenders, greater loan availability may be on the horizon, says LaCour-Little, thanks to the recent Federal Reserve cut in interest rates. However, even though the rate cut is likely to produce greater liquidity in the mortgage market, the rate cut itself is not likely to reduce most mortgage rates, since they tend to be tied to longer-term rates rather than the federal funds rate that the Federal Reserve controls, he says.

When mulling over your mortgage-loan options, it's important to scrutinize several key criteria, says Scott Christiansen, a senior mortgage professional with WestCal Mortgage Corp. in Southern California.

Consider your income today vs. income in the future, he says. Look at potential tax breaks, and spread out your investments the amount of money you put into your home vs. other investment vehicles. Work with a mortgage professional who comes recommended and whom you trust. Lastly, do your homework and take action. Times change, and so do financing programs, so what is available this week may not be next week.

Doing your homework inevitably involves checking your credit score and analyzing your credit report carefully, says LaCour-Little. If you do identify any problems, try to resolve them before applying for a loan.

Though they've gotten a lot of bad press lately, don t be too quick to dismiss adjustable-rate mortgage options, says Christiansen.

ARMs are still a great option for the informed borrower, he says. ARMs are designed to fit a borrower s time line and payment range. If you re going to live in a home for three to five years, look at a five- to seven-year ARM. If you plan on living in a home for 20 years, and you elect to go with a five- or seven-year ARM, then you run the risk of the rate being higher at the adjustment period. Many lenders and borrowers went about the last few years as if the housing market could do nothing but grow. There are always adjustments, corrections and changes, and all should be considered when selecting the best mortgage-financing solution.

If you get turned down by a lender, don't despair, says Mullins.

This is a sign of the times a good sign, she says. Lenders are finally putting in some safeguards to help buyers recognize when they should not be buying. Get the tools you need to clean up your credit and other personal situations before you decide to take on any debt you can t afford.

LaCour-Little says that approximately 20 to 30 percent of mortgage-loan applications are declined each year. It s not the end of the world, he says. Different lenders have different underwriting guidelines, so you may simply need to apply to another lender.

Ultimately, remember that banks make money lending money, says Christiansen. The days of a real estate investor coming in without a job, with terrible credit and almost no money in the bank and buying homes and apartments may very well be over. But smart money is still available to smart borrowers.

Assist-2-Sell Buyers & Sellers Edge Announces Top Producers for 2007

In 2007, Assist-2-Sell agent Allan E. Brown listed thirty-nine homes. Allan has been with the company for almost two years. Allan brings a variety of talents and expertise to the business. Allan's talents are unique to the real estate market. One of his specialties is to provide sellers with a DVD video of their listed property. This excites sellers and allows the video to be seen on multiple websites including Realtor.com, Homes.com, You-Tube, etc... Additionally, he achieved the NJAR Circle of Excellence award for 2007.

Robert Blackburn, who has been with Assist-2-Sell® for two years, sold sixteen homes and is also an NJAR Circle of Excellence award recipient for 2007. As a former military officer, Robert brings discipline and structure to the real estate environment. Robert enjoys working with buyers, successfully fulfilling their housing wishes and needs. His success has been documented with letters of testimony from very satisfied buyers.

About Assist-2-Sell Buyers & Sellers Edge
Based in Hamilton, NJ, Assist-2-Sell Buyers & Sellers Edge was opened by Michael J. Sinton in September 2005. As "North America's Leading Discount Real Estate CompanySM," Assist-2-Sell® provides home sellers with full brokerage services for a low flat fee, saving consumers nationwide more than $800 million in commission.[1] The company also offers a full range of services to homebuyers, including access to millions of listings through Assist-2-Sell's unique databases. Sinton and his agents are fully licensed and members of the National Association of Realtors®. For five straight years Entrepreneur Magazine has recognized Assist-2-Sell as one of the leading franchises and Assist-2-Sell Buyers & Sellers Edge has been honored as Assist-2-Sell's Top Ten Percent for October of 2007. Assist-2-Sell Buyers & Sellers Edge is individually owned and operated. On the Net: www.WeSellCentralNJ.com.

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Some families had a happier holiday thanks to a Dallas real estate brokerage.  Assist-2-Sell Buyers & Sellers Realty donated 25 turkeys and 25 hams over the Thanksgiving and Christmas holidays.  The families who received the holiday meals were selected by the teachers and faculty at Skyview Elementary

"This was our second year donating turkeys and hams to Skyview Elementary, and we're so happy to have helped 50 families celebrate the holidays," said Tramonte.

If you would like to join Assist-2-Sell and help local families in need, their team participates in fundraising for Young Life ministries, community service through Watermark Community Church, and blood drives, in addition to multiple initiatives with local elementary schools.  

Assist-2-Sell Buyers & Sellers Realty is owned and operated by Todd Tramonte. He opened the Dallas office in February 2006. Assist-2-Sell, North America's Leading Discount Real Estate Company^SM, provides home sellers with full brokerage services for a low, flat fee, saving consumers more than $800 million in commission.[1] Homebuyers also have access to a full range of services, including Assist-2-Sell's exclusive listings databases. All brokers and agents are fully licensed and REALTORS®. On the Net: http://www.4dallashomes.com/.    

[1] Savings based on statistics since January 1, 2000, for all Assist-2-Sell offices in North America compared to paying six percent commission. Six percent used for comparison purposes only. Commissions may be negotiable and are not fixed by law.

Last Sunday, KUSA 9 News did a story about how Denver-area real estate brokers responded to warm weather and positive financial news (like the recent Fed Rate rate cuts and economic stimulus package) by hosting open houses all over town.  They interviewed Todd Barker, owner of Assist-2-Sell Home Buyers & Sellers Realty in Denver, about why would-be homebuyers were coming out for these open houses.

Watch "Warm weather, financial news, increase open house activity."