First Time  Home Buyer   Seminar:The Keys to Home   Ownership          Presented by          Lacy Williams          Joyner...
Steps to Home Ownership1. Rent vs. Buy2. Mortgage Preapproval Process3. Find a Realtor4. Find a Home5. Offer and Contract6...
Step 1: Rent vs. Buy• There is no right or wrong answer when deciding to  buy or rent… a good decision is the one that’s r...
The Value of Homeownership                 Price Appreciation         Return on Equity                                    ...
Home Ownership  Has been a Good Investment during  the 2000s unlessyou lived in the city     of Detroit!         5
Stocks vs. Real EstateIndex                 % Change 2000 – July ‘08Dow                                5NASDAQ            ...
Housing Has Been A Good Value in                                  Richmond!!                               Price Per Squar...
Rent vs. BuyExample: House for $250,000 vs. Apartment for $1200/month                          RENT            BUYMonthly ...
Rent vs. BuyExample: Buy a house for $250,000 vs. Apartment for $1200/month                          RENT            BUYMo...
Rent vs. Buy                    RENT        BUY5 year rental       $78,895     $72,470    5 year total buying expensesexpe...
Rent vs. Buy                    RENT        BUY5 year rental       $78,895     $72,470    5 year total buying expensesexpe...
Rent vs. Buy                    RENT        BUY5 year rental       $78,895     $72,470    5 year total buying expensesexpe...
Rent vs. Buy                    RENT        BUY5 year rental       $78,895     $72,470    5 year total buying expensesexpe...
Rent vs. Buy                    RENT        BUY5 year rental       $78,895     $72,470    5 year total buying expensesexpe...
Rent vs. Buy                    RENT        BUY5 year rental       $78,895     $72,470    5 year total buying expensesexpe...
Rent vs. Buy                    RENT        BUY5 year rental       $78,895     $72,470    5 year total buying expensesexpe...
If prices go down by 10% and the Interest Rate                Increases my only 1%, you LOSE!!!Interest Rate              ...
Mortgage Rates – 30 year fixedNAR Projections                             MBA Projections                              5.8...
Housing Affordability      More affordable than any      time in the last 30 years!19
Owning Your Own Home is More       than a Good Investment•   Good place to raise and educate children•   A place where you...
Once I decide to buy what do I do next? 21
Steps to Home Ownership1. Rent vs. Buy2. Mortgage Preapproval Process          22
Step 2: Mortgage Pre-Approval Process• Start the process early!!!• Mortgage professional will check your credit report to ...
Types of Loans• Conventional  – Fixed rates and ARMs  – 5% minimum down payment  – 10% minimum down payment for condominiu...
Closing Costs• Lender Costs   – Appraisal, administrative fee, Origination fee• Attorney Fees   – Includes fee to close an...
More on the Mortgage Process•   Gifts are allowed with some loans.•   First time home buyer programs.•   Important to have...
Steps to Home Ownership1. Rent vs. Buy2. Mortgage Preapproval Process3. Find a Realtor          27
Step 3: Find a RealtorWhat is the benefit of having an agent to represent me?We help you through the process.1. Market Kno...
Steps to Home Ownership1.   Rent vs. Buy2.   Mortgage Preapproval Process3.   Find a Realtor4.   Find a Home            29
Step 4: Find the New Home• Assess your wants & needs:  •   Define your criteria (Price range, area, neighborhood,      sty...
House vs. Condominium?• House: You own the house, the land and are responsible  for everything• Condominium: You own the i...
New vs. “Used” Home• New Home or condominium allows you to pick your floor  plan and your finishes.• New home or new condo...
Association Documents• Docs, Association documents, Public Offering Statement  (POS), or Condo Docs are the rules and regu...
Foreclosures and Short Sales• What a deal!!! But…..• Sold “As Is”. Purchaser takes all the risk. You can have  an inspecti...
Steps to Home Ownership1.   Rent vs. Buy2.   Mortgage Preapproval Process3.   Find a Realtor4.   Find a Home5.   Offer and...
Step 5: Offer and Contract• Congratulations! We found the right home… now what?• Your agent will evaluate comparable sales...
Steps to Home Ownership1.   Rent vs. Buy2.   Mortgage Preapproval Process3.   Find a Realtor4.   Find a Home5.   Offer and...
Step 6: Mortgage• Prequalification letter does not obligate you to use a  mortgage company.• Mortgage may come from a mort...
Steps to Home Ownership1.   Rent vs. Buy2.   Mortgage Preapproval Process3.   Find a Realtor4.   Find a Home5.   Offer and...
Step 7: InspectionHome Inspection:   • Your realtor can recommend inspectors. Typical costs     below:       1.   Whole Ho...
Steps to Home Ownership1.   Rent vs. Buy2.   Mortgage Preapproval Process3.   Find a Realtor4.   Find a Home5.   Offer and...
Step 8: Appraisal, Survey,    Homeowners Insurance, Title Search• Appraisal: Your lender will have this done to make sure ...
Steps to Home Ownership1. Rent vs. Buy2. Mortgage Preapproval Process3. Find a Realtor4. Find a Home5. Offer and Contract6...
Step 9: ClosingAttorney or non-attorney for your closing agent?We strongly recommend using an attorney.• Attorneys are mos...
Step 9: Closing• Your contract has a closing date. If closing date changes, all  parties need to agree on it.• Remember yo...
Questions???Mortgage PreQualifications Available-          Christy Feiler          Richmond Mortgage Funding/SunTrust     ...
Why You Should Buy Now  47
Return on Investment(January 1, 2000 –December 1, 2010)            48                        MSN Money.com, Case Shiller
Home Price Expectation Survey% Cumulative Price Change from Year End 2009           49              Macro Market Home Pric...
Foreclosures Will Be Dropping     50
Future House Sales – Fannie Mae & NAR                          NAR      Fannie Mae      51                 Fannie Mae and ...
“If you don’t own a   home, buy one.If you own one home,   buy another one.If you own two homes,      buy a third.    And,...
Your realtor:          Lacy Williams       Joyner Fine Properties           804-864-0316Lacy.Williams@JoynerFineProperties...
Handouts54
Upcoming SlideShare
Loading in...5
×

First time home buyer

340

Published on

Are you a First Time Home Buyer? Find out what you need to know in order to purchase your first home.

0 Comments
1 Like
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total Views
340
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
17
Comments
0
Likes
1
Embeds 0
No embeds

No notes for slide

First time home buyer

  1. 1. First Time Home Buyer Seminar:The Keys to Home Ownership Presented by Lacy Williams Joyner Fine Properties 804-864-0316 www.RichmondHousingToday.com 1
  2. 2. Steps to Home Ownership1. Rent vs. Buy2. Mortgage Preapproval Process3. Find a Realtor4. Find a Home5. Offer and Contract6. Mortgage7. Inspection8. Appraisal, Survey, Homeowners Insurance, Title Search9. Closing 2
  3. 3. Step 1: Rent vs. Buy• There is no right or wrong answer when deciding to buy or rent… a good decision is the one that’s right for you.• Renting provides both equity & tax benefits for the landlord only. When you rent, you are buying someone else’s home for them.• Buying a home should be a good long-term investment, providing equity and tax benefits. • Mortgage interest, real estate taxes & some closing costs are tax deductible. 3
  4. 4. The Value of Homeownership Price Appreciation Return on Equity 498% Purchase Price $100,000 Down Payment 25% $25,000 Appreciation in 5 years 35% Value of Home Equity $135,000 $35,000 301% Return on $25,000 investment 140% 140% 110% 71% 35% 5 Years 10 Years 15 YearsSource: PMI October 2007(Based on National Data) 4
  5. 5. Home Ownership Has been a Good Investment during the 2000s unlessyou lived in the city of Detroit! 5
  6. 6. Stocks vs. Real EstateIndex % Change 2000 – July ‘08Dow 5NASDAQ - 41S&P 500 -8Real Estate 86Composite 10 CitiesReal Estate 72Composite 20 Cities 6
  7. 7. Housing Has Been A Good Value in Richmond!! Price Per Square Foot For Closed House Sales By YearPrice Per Square Foot $150 $139.64 $140 $135.82 $132.43 $130 $123.38 $117.82 $114.46 $120 $107.60 $110 $99.65 $100 $92.37 $90 $80 00 2 00 3 00 4 00 5 00 6 00 7 00 8 00 9 0) 2 2 2 2 2 2 2 2 7/1 9/ h ru (T 10 20 YearA 24% increase since 2002!!! 7
  8. 8. Rent vs. BuyExample: House for $250,000 vs. Apartment for $1200/month RENT BUYMonthly Rent $1,200/month $1,207/month Mortgage PaymentAnnual rent 4% 0% Fixed mortgage paymentIncrease (No increases!)Renters Insurance $180/year $600 year Homeowners Insurance $250,000 Purchase Price $25,000 Downpayment 10% $2,025 Annual Lock Lane condo Fees 2% Annual appreciation 5 Years before selling 5.25% Mortgage rate – 30 Years $1,500 Property Taxes * 28% IRS tax rate 8
  9. 9. Rent vs. BuyExample: Buy a house for $250,000 vs. Apartment for $1200/month RENT BUYMonthly Rent $1,200/month $1,207/month Mortgage PaymentAnnual rent 4% 0% Fixed mortgage paymentIncrease (No increases!)Renters Insurance $180/year $600 year Insurance $250,000 Purchase Price $25,000 Downpayment 10% $2,500 Maintenance 2% Annual appreciation 5 Years before selling 5% Mortgage rate – 30 Years $3,000 Property Taxes 28% IRS tax rate 9
  10. 10. Rent vs. Buy RENT BUY5 year rental $78,895 $72,470 5 year total buying expensesexpenses5 year difference $6,424 $15,927 5 year tax savings $27,122 5 year equity appreciation* $43,049 Net value gain (tax savings + equity) ($16,561) Cost for selling home in 5 years (6%) $26,488 Net benefit of ownership $30,836 Purchase Benefit 10
  11. 11. Rent vs. Buy RENT BUY5 year rental $78,895 $72,470 5 year total buying expensesexpenses5 year difference $6,424 $15,143 5 year tax savings $27,122 5 year equity appreciation* $43,049 Net value gain (tax savings + equity) ($16,561) Cost for selling home in 5 years (6%) $26,488 Net benefit of ownership $30,836 Purchase Benefit 11
  12. 12. Rent vs. Buy RENT BUY5 year rental $78,895 $72,470 5 year total buying expensesexpenses5 year difference $6,424 $15,143 5 year tax savings $27,844 5 year equity appreciation* $43,049 Net value gain (tax savings + equity) ($16,561) Cost for selling home in 5 years (6%) $26,488 Net benefit of ownership $30,836 Purchase Benefit 12
  13. 13. Rent vs. Buy RENT BUY5 year rental $78,895 $72,470 5 year total buying expensesexpenses5 year difference $6,424 $15,143 5 year tax savings $27,844 5 year equity appreciation* $42,988 Net value gain (tax savings + equity) ($16,561) Cost for selling home in 5 years (6%) $26,488 Net benefit of ownership $30,836 Purchase Benefit 13
  14. 14. Rent vs. Buy RENT BUY5 year rental $78,895 $72,470 5 year total buying expensesexpenses5 year difference $6,424 $15,143 5 year tax savings $27,844 5 year equity appreciation* $42,988 Net value gain (tax savings + equity) ($16,561) Cost for selling home in 5 years (6%) $26,488 Net benefit of ownership $30,836 Purchase Benefit 14
  15. 15. Rent vs. Buy RENT BUY5 year rental $78,895 $72,470 5 year total buying expensesexpenses5 year difference $6,424 $15,143 5 year tax savings $27,844 5 year equity appreciation* $42,988 Net value gain (tax savings + equity) ($16,561) Cost for selling home in 5 years (6%) $26,427 Net benefit of ownership $30,836 Purchase Benefit 15
  16. 16. Rent vs. Buy RENT BUY5 year rental $78,895 $72,470 5 year total buying expensesexpenses5 year difference $6,424 $15,143 5 year tax savings $27,844 5 year equity appreciation* $42,988 Net value gain (tax savings + equity) ($16,561) Cost for selling home in 5 years (6%) $26,427 Net benefit of ownership $32,851 Purchase Benefit* When you sell, an individual can exempt $250,000 in gain if you have livedin the home for 2 out of the last 5 years. Married couples can exempt$500,000 in gain.Try a scenario yourself at www.vlender.com/cgi-bin/calc/rent_vs_buy.cgi 16
  17. 17. If prices go down by 10% and the Interest Rate Increases my only 1%, you LOSE!!!Interest Rate MONTHLY PAYMENT 8.00% $1,321 $1,357 $1,394 $1,431 $1,468 $1,504 $1,541 $1,578 $1,614 7.75% $1,290 $1,325 $1,361 $1,397 $1,433 $1,469 $1,504 $1,540 $1,576 7.50% $1,259 $1,294 $1,329 $1,363 $1,398 $1,433 $1,468 $1,503 $1,538 7.25% $1,228 $1,262 $1,296 $1,330 $1,364 $1,398 $1,433 $1,467 $1,501 7.00% $1,198 $1,231 $1,264 $1,297 $1,331 $1,364 $1,397 $1,430 $1,464 6.75% $1,167 $1,200 $1,232 $1,265 $1,297 $1,330 $1,362 $1,394 $1,427 6.50% $1,138 $1,169 $1,201 $1,233 $1,264 $1,296 $1,327 $1,359 $1,391 6.25% $1,108 $1,139 $1,170 $1,201 $1,231 $1,262 $1,293 $1,324 $1,355 6.00% $1,079 $1,109 $1,139 $1,169 $1,199 $1,229 $1,259 $1,289 $1,319 5.75% $1,050 $1,080 $1,109 $1,138 $1,167 $1,196 $1,226 $1,255 $1,284 5.50% $1,022 $1,050 $1,079 $1,107 $1,136 $1,164 $1,192 $1,221 $1,249 5.25% $994 $1,022 $1,049 $1,077 $1,104 $1,132 $1,160 $1,187 $1,215 5.00% $966 $993 $1,020 $1,047 $1,074 $1,100 $1,127 $1,154 $1,181 4.75% $939 $965 $991 $1,017 $1,043 $1,069 $1,095 $1,122 $1,148 4.50% $912 $937 $963 $988 $1,013 $1,039 $1,064 $1,089 $1,115 4.25% $900 $910 $935 $959 $984 $1,008 $1,033 $1,058 $1,082 4.00% $859 $883 $907 $931 $955 $979 $1,003 $1,026 $1,050 205,00 Loan Amount 180,000 185,000 190,000 195,000 200,000 0 210,000 215,000 220,000 17 Price Change -10.00% -7.50% -5.00% -2.50% Loan 2.50% 5.00% 7.50% 10.00%
  18. 18. Mortgage Rates – 30 year fixedNAR Projections MBA Projections 5.8% 5.4% 18 National Association of Realtors, Mortgage Bankers Association 10/2010
  19. 19. Housing Affordability More affordable than any time in the last 30 years!19
  20. 20. Owning Your Own Home is More than a Good Investment• Good place to raise and educate children• A place where you and your family can feel safe• You have control over your own living space• You and your neighbors have a sense of ownership and responsibility. 20
  21. 21. Once I decide to buy what do I do next? 21
  22. 22. Steps to Home Ownership1. Rent vs. Buy2. Mortgage Preapproval Process 22
  23. 23. Step 2: Mortgage Pre-Approval Process• Start the process early!!!• Mortgage professional will check your credit report to make sure you can get a loan• How much will I be able to afford?• What kind of loans are available for me?• What are my closing costs and how much?• Start saving money now!• Typical down payment is 3.5-5% 23
  24. 24. Types of Loans• Conventional – Fixed rates and ARMs – 5% minimum down payment – 10% minimum down payment for condominiums• VA – 100% financing for veterans with no mortgage insurance• FHA – Government loan with 3.5% down payment. Gifts allowed• ARM – Adjustable Rate Mortgage. Lower fixed rate for short period (3 ½ or 7 years)• VHDA – Virginia Housing Development Authority has a variety of first time buyer loans with minimum down payment. Usually have income restrictions. 24
  25. 25. Closing Costs• Lender Costs – Appraisal, administrative fee, Origination fee• Attorney Fees – Includes fee to close and title insurance ($4 per $1000 of purchase price)• Government Recording – Includes tax stamps for the deed and county and state charge $3.33 per $1000 for both deed and note• Escrows – Usually 3-4 months of homeowners insurance and real estate taxes are put into an escrow account by the lender• The total closing costs typically are $5,000 to $7,000 on a $250,000 purchase. 25
  26. 26. More on the Mortgage Process• Gifts are allowed with some loans.• First time home buyer programs.• Important to have easy access to your loan officer.• Deal with someone you trust! 26
  27. 27. Steps to Home Ownership1. Rent vs. Buy2. Mortgage Preapproval Process3. Find a Realtor 27
  28. 28. Step 3: Find a RealtorWhat is the benefit of having an agent to represent me?We help you through the process.1. Market Knowledge – We will help you make a smart buying decision. a. Neighborhood b. Price c. Style of home d. Resale value2. Negotiating – We are experienced in developing and negotiating competitive offers.3. Inspection – Identifying and resolving issues with the home.4. Advocacy – we do everything we can to find your home and represent YOU in the process.5. Questions – We will answer your questions throughout the buying process. Remember: The total real estate commission is paid by the Seller. You don’t have to pay any of it... You get representation for Free!! 28
  29. 29. Steps to Home Ownership1. Rent vs. Buy2. Mortgage Preapproval Process3. Find a Realtor4. Find a Home 29
  30. 30. Step 4: Find the New Home• Assess your wants & needs: • Define your criteria (Price range, area, neighborhood, style of home, number of bedrooms, etc)• Shop for a Home: • Realtor will email you properties that meet your criteria • Realtor will help you select homes to see • While viewing a home, Realtor will add expert opinion of home• Factors to consider: • Neighborhood profile • Type of home, square footage, # bedrooms, # baths • Price and comparable sales • Quality of schools • Amenities 30
  31. 31. House vs. Condominium?• House: You own the house, the land and are responsible for everything• Condominium: You own the inside. The outside of the building, the land, and the amenities are owned in common. You pay a monthly fee for the maintenance of the common areas. (Not included in mortgage payment)• Townhouse: You own the land. Exterior maintenance may or may not be included.• Factors to consider: – Cost for upkeep – Ability or willingness to do exterior maintenance – Do I want or need a yard? Do I want to maintain it? – Amount of living space needed – Amenities, pool, fitness center etc.? – Parking? 31
  32. 32. New vs. “Used” Home• New Home or condominium allows you to pick your floor plan and your finishes.• New home or new condominium have warranties.• VA Condominium Act requires the Developers to provide a 2 year warranty on the structure of the building.• You can do a walkthru and create a “Punch List”.• New homes tend to be a bit more expensive than resales.• For new homes, you can save on the inspection costs.• For new homes, the price is usually fixed-- you can negotiate the price on resales.• For Used Homes, we recommend that you purchase a Home Warranty. 32
  33. 33. Association Documents• Docs, Association documents, Public Offering Statement (POS), or Condo Docs are the rules and regulations for neighborhoods of single family homes or condominiums.• Documents specify what you can and can’t do e.g., fence requirements, pet restrictions, rental restrictions.• The Docs also contain the association budgets• Seller must deliver a current copy of the Docs to the Purchaser.• Purchaser has 3 days (resales) or 10 days (new homes) to review docs and rescind the contract. Rescission must be in writing.• Read the documents and ask your realtor if you have questions. 33
  34. 34. Foreclosures and Short Sales• What a deal!!! But…..• Sold “As Is”. Purchaser takes all the risk. You can have an inspection but they are not going to pay for anything.• Banks respond fairly quickly on foreclosures but...• There are often multiple offers and sometimes they sell for more than asking price• 3 out of 4 short sales do not close. You make the offer and it may take months for the bank to reject the offer.• Things may be missing and you may not be able to get a loan. 34
  35. 35. Steps to Home Ownership1. Rent vs. Buy2. Mortgage Preapproval Process3. Find a Realtor4. Find a Home5. Offer and Contract 35
  36. 36. Step 5: Offer and Contract• Congratulations! We found the right home… now what?• Your agent will evaluate comparable sales and write a competitive offer for you.• Seller contributions: Buyer may ask Seller to pay some of the closing costs.• Strategies to make your offer competitive: Price, terms and conditions.• Agent will explain the contract, attached forms and offer process to you.• Be prepared… 1. Have your mortgage preapproval ready. 2. Have your funds available – Earnest money deposit with contract. 3. Ask questions about the contract and the process. Buyer Offer Seller Buyer Counteroffer Seller Buyer Seller Ratified Counteroffer Contract! 36
  37. 37. Steps to Home Ownership1. Rent vs. Buy2. Mortgage Preapproval Process3. Find a Realtor4. Find a Home5. Offer and Contract6. Mortgage 37
  38. 38. Step 6: Mortgage• Prequalification letter does not obligate you to use a mortgage company.• Mortgage may come from a mortgage company, savings & loan, bank, or credit union.• Closing costs and Good Faith Estimate… being able to compare apples with apples!• Your mortgage lender will need things like the following (Pay stub, copies of your tax returns for the past few years, bank statements…….)• Interest rate is not the only important thing.• Important to have easy access to your mortgage lender.• Respond quickly to your lender!! 38
  39. 39. Steps to Home Ownership1. Rent vs. Buy2. Mortgage Preapproval Process3. Find a Realtor4. Find a Home5. Offer and Contract6. Mortgage7. Inspection 39
  40. 40. Step 7: InspectionHome Inspection: • Your realtor can recommend inspectors. Typical costs below: 1. Whole House inspection ($300-$400) 2. HVAC inspection ($150) 3. Chimney inspection ($100) 4. Roof inspection ($150) 5. Radon inspection ($350) • Your realtor will help you address inspection issues – credit or fix prior to closing.Home Warranty: We recommend a home warranty for “used” homes. It is usually not necessary for new homes. Cost is generally $350-400 for first year and can be paid for as part of closing costs.Negotiation: Your realtor will address any issues that change your contract. 40
  41. 41. Steps to Home Ownership1. Rent vs. Buy2. Mortgage Preapproval Process3. Find a Realtor4. Find a Home5. Offer and Contract6. Mortgage7. Inspection8. Appraisal, Survey, Homeowners Insurance, Title Search 41
  42. 42. Step 8: Appraisal, Survey, Homeowners Insurance, Title Search• Appraisal: Your lender will have this done to make sure your home is worth equal or more than they are loaning you.• Survey: Your lender or attorney may require a survey of the lot showing dimension, house placement and easements.• Home or condo insurance: Get quotes, select agent and get information to closing attorney.• Title Insurance: Your closing agent will have a title company do a title search to make sure that the title to the property is free and clear. All existing loans (liens) on the property will be paid off when you buy the property. You will pay for title insurance to protect you after you buy the property. 42
  43. 43. Steps to Home Ownership1. Rent vs. Buy2. Mortgage Preapproval Process3. Find a Realtor4. Find a Home5. Offer and Contract6. Mortgage7. Inspection8. Appraisal, Survey, Homeowners Insurance, Title Search9. Closing 43
  44. 44. Step 9: ClosingAttorney or non-attorney for your closing agent?We strongly recommend using an attorney.• Attorneys are most knowledgeable about the RESPA laws (Real Estate Settlement Procedures Act).• You receive your own legal representation & protection.• Attorneys will lead your through the settlement and have your best interests in mind.• Attorney is there to deal with any issue that may arise!!! 44
  45. 45. Step 9: Closing• Your contract has a closing date. If closing date changes, all parties need to agree on it.• Remember your mortgage has an expiration date for your rate… get closed before it expires.• Set up all your utilities prior to closing to start on closing date. (electric, gas, water & sewer, propane, oil delivery)• Don’t forget to set up trash pickup, TV, Internet, telephone.• Be flexible on your moving date. Closings are often delayed by lenders, new Federal regulations, etc.• Attorney will explain the closing costs.• Who is at closing? You, your attorney and your realtor. • Bring your funds (cashiers check) or arrange for electronic transfer.. And don’t forget… bring a picture ID! • You will sign lots and lots of papers. 45 • Congratulations!! Enjoy your new home!
  46. 46. Questions???Mortgage PreQualifications Available- Christy Feiler Richmond Mortgage Funding/SunTrust (804) 673-1793 Office (804) 673-1794 Fax (804) 305-0464 Cell 319 Maple Avenue Richmond, VA 23226 46
  47. 47. Why You Should Buy Now 47
  48. 48. Return on Investment(January 1, 2000 –December 1, 2010) 48 MSN Money.com, Case Shiller
  49. 49. Home Price Expectation Survey% Cumulative Price Change from Year End 2009 49 Macro Market Home Price Expectations Survey 11/2010
  50. 50. Foreclosures Will Be Dropping 50
  51. 51. Future House Sales – Fannie Mae & NAR NAR Fannie Mae 51 Fannie Mae and NAR 11/2010
  52. 52. “If you don’t own a home, buy one.If you own one home, buy another one.If you own two homes, buy a third. And, lend yourrelatives the money to buy a home.” – John Paulson 9/27/2010 52
  53. 53. Your realtor: Lacy Williams Joyner Fine Properties 804-864-0316Lacy.Williams@JoynerFineProperties.comwww.RichmondHousingToday.com 53
  54. 54. Handouts54
  1. A particular slide catching your eye?

    Clipping is a handy way to collect important slides you want to go back to later.

×