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Rochester, NY Real Estate News

From the Desk of Don Draughn, Professional Mortgage Consultant Website:  http://ahfmortgage.elliemae.net/ddraughnIf you are in the market for a cozy home in a wooded setting then this is the home for you. Located in:Penfield, Monroe CountyAbout the Area:Nearby EstablishmentsSchool District:Penfield CSDType:Single-FamilyRooms:8Bedrooms:3 / 4Bathrooms:3 full, 1 half Year Built:2002Taxes:$9,131Waterfront:Ross Creek (Stream)Acres:Approximately 0.94 acresLot Size:Approximately 180 x 292Square Ft:Approximately 2,390 sq ftStyle: ColonialRooms: 1st Floor Master Bedroom2nd Floor LaundryBonus RoomFamily RoomFoyer/Entry HallMaster BathOpen PorchWorkshopInterior Features: Cathedral CeilingsCeiling FanCircuit Breakers - someCopper Plumbing - someDrapes - someSliding Glass DoorTwo Story FoyerWindow B...
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From the Desk of Don Draughn, Professional Mortgage ConsultantWebsite:  http://ahfmortgage.elliemae.net/ddraughn In the Sunday, February 10th, edition of the Democrat and Chronicle, staff writer Mary Chao wrote an article addressing the Rochester, NY, housing and mortgage market.  It is a thorough article and covers many of the topics that are pertinant to the real estate market in Rochester.  She covers many of the questions that are being asked all over the country regarding the current (and I believe the soon to be ending) housing and credit crunch.  I have included a link to the article for you so you can read what she says:Rules for mortgages squeezing buyerswritten by Mary Chao - Staff WriterContrary to the informatation provided to Mary Chao by some of her sources, there are opti...
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By Don Draughn - Mortgage Professional
From the Desk of Don Draughn, Professional Mortgage ConsultantWebsite:  http://ahfmortgage.elliemae.net/ddraughn So, you've decided to buy a home!Purchasing real estate is a complex and major transaction with many details to be handled.  Depending on the laws in your state and the business arrangement you have with a licensed real estate agent, that agent may actually be negotiating for the seller, not you the buyer.  The best way to be certain that an agent is working in your best interests is by signing a buyer representation agreement with an agent.Why us a Buyer Representative?The buyer's representative works for, and owes fiduciary responsibilities to, the real estate buyer and has the buyer's best interests in mind throughout the entire real estate process.  A buyer's representati...
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By Mary Shelsby
(ReMax Realty Group)
The snow is blowing and the wind-chill is below zero tonight and so it's a good time to dream of living somewhere else. That is, until you look at the price of housing.One of Rochester's most magnificent homes, the Charlotte Whitney Allen Home on Oliver Street is currently on the market. The 6000 sq foot museum-quality mansion complete with gardens designed by renowned landscape designer Fletcher Steele are being offered for a mere $975,000. photo tour and home details at: www.rochestersbesthomes.com/733670 By comparison, a similar mansion is being offered in San Francisco. It's a little larger, approximately 7,400 sq feet but is located on a lot less than half the size of the Rochester home. The Californian home does boast 7 full baths, compared to our local offering of 4 full and 2 ha...
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From the Desk of Don Draughn, Professional Mortgage ConsultantWebsite:  http://ahfmortgage.elliemae.net/ddraughn Over the last year, the mortgage industry has gone through a tremendous amount of turmoil.  Some banks cut back drastically on the loan programs they offered.  Others added some more stable loan products to replace the ones they discontinued.  Still other banks just went out of business all together.  For some people, it is hard to know if purchasing their first home is even possible.  Hopefully, the next few paragraphs will be useful to help the First Time Home Buyer wade through all the mire and muck of mortgage lending and give them the opportunity to realize the American Dream of home ownership.What should the First Time Home Buyer be prepared for when applying for a mort...
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By Don Draughn - Mortgage Professional
From the Desk of Don Draughn, Professional Mortgage ConsultantWebsite:  http://ahfmortgage.elliemae.net/ddraughnGood credit translates to lower interest rates for borrowers. Here are just a few quick tips that can help put you in a better position under the discerning eye of an underwriter! •·        Do you have past due balances that have been neglected? If they are showing up on your credit report and you want to purchase a home, make sure you bring them up to current status whenever possible.•·        Do you have outstanding debt that you can afford to pay off right now? Try to get these accounts down to a zero balance, or at least a lower balance. If your cash on hand doesn't allow you to do this, try to distribute the debt amongst other open credit cards. You can also consider open...
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By Don Draughn - Mortgage Professional
From the Desk of Don Draughn, Professional Mortgage ConsultantWebsite:  http://ahfmortgage.elliemae.net/ddraughnRochester, NY, is a history rich region in Western New York.  One historic place that proves to be of interest to visitors and residents alike is the Susan B. Anthony House.  Below is a little information from their website.  The Susan B. Anthony House shares the story of Susan B. Anthony's lifelong struggle to gain voting rights for women and equal rights for all. We keep her vision and struggle alive by owning and protecting Anthony's National Historic Landmark home; collecting artifacts and research materials directly related to her life and work; and making these resources available to the public through tours, publications, the Internet and interpretive programs.The Susan...
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By Don Draughn - Mortgage Professional
From the Desk of Don Draughn, Professional Mortgage ConsultantWebsite:  http://ahfmortgage.elliemae.net/ddraughn Key Rates - Last Updated on 2/1/2008Loan ProgramRate (%)Points (%)APR (%)Payment**30 Year Fixed 5.6250.0005.738$57615 Year Fixed 5.1250.0005.304$79730 Year FHA/VA 5.5000.0005.693$56830 year fixed Home 97 5.3750.0005.483$56040 year fixed Home 97 5.5000.0005.610$51630 Year NO PMI 5.9901.2506.200$599*Rates are subject to change without notice.**Payment based per $100,000 amount. Rates Continue to be very good.  Now is the perfect time to purchase a new home or to refinance your existing mortgage.  If I can be of assistance in any way please do not hesitate to call me.
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By Mary Shelsby
(ReMax Realty Group)
 No I didn't get a phone call! Or a personal letter! But I did get a survey stuck into our storm door.It's number crunching time at Rochester's City Hall and Mayor Bob Duffy has asked for neighborhood feedback regarding fees, taxes and services."What are the most important services to you and your neighborhood?", the survey asks. To me, that's pretty easy. Police protection and fighting crime are utmost important to me. Keeping our streets clear of snow is also a priority and I sure feel better about our city when it is clean and clear of liter.Next, the survey asks, "What services are nice to have, but you could live without if cuts had to be made?" That's a little more difficult question for me. I'm embarrassed to admit it, but I've not been to the library in more than ten years, so t...
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By Don Draughn - Mortgage Professional
From the Desk of Don Draughn, Professional Mortgage ConsultantWebsite:  http://ahfmortgage.elliemae.net/ddraughnThis is a new open house that will be occuring this Sunday, February 3, from 1:00 pm to 3:00 pm.  For more information please contact Alexandra Vysochan at 330-8407 or by email at avysochan@nothnagle.com . Be sure to check out this and other properties at Nothnagle.com.  
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Key Rates - Last Updated on 1/24/2008Loan ProgramRate (%)Points (%)APR (%)Payment**30 Year Fixed 5.750.0005.910$58315 Year Fixed 5.250.0005.475$80330 Year Fixed (Jumbo)6.3750.6256.575$62330 Year FHA/VA 5.500.0005.684$56830 year fixed Home 97 5.1250.0005.228$54440 year fixed Home 97 5.2500.0005.355$49930 Year NO PMI 5.8751.2506.081$592 *Rates are subject to change without notice.**Payment based per $100,000 amount. Wednesday, January 23rd, was a wild day on the interest rate roller coaster.  They did trend upward but they are still at a level not seen in quite some time until this past Tuesday.  Now is the time to purchase a home or to refinance your mortgage.  If you would like more information, please feel free to call or email.  It would be my honor to assist you with your mortgage ne...
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By Don Draughn - Mortgage Professional
MORTGAGE PLANNING TIPSFrom the Desk of Don Draughn, Professional Mortgage ConsultantWebsite:  http://ahfmortgage.elliemae.net/ddraughn  Avoid Financial Changes During the Loan ProcessOnce your loan package has been sent to the lender, there are a number of things you should avoid doing that may change your financial picture. Remember, the lender is looking for stability and consistency. If you want the best interest rate, keep that in mind. Here are a few things to consider: The lender wants to see what your source of down payment is.Your lender will most likely ask you to provide proof of your liquid assets. This includes bank statements for checking and savings accounts, verification of investments, and any other liquid assets. Some of the things they ask for may seem trivial, but kee...
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Key Rates - Last Updated on 1/22/2008Loan ProgramRate (%)Points (%)APR (%)Payment**30 Year Fixed 5.3750.0005.610$56815 Year Fixed 4.8750.0005.175$79130 Year Fixed (Jumbo)6.2500.6256.375$61630 Year FHA/VA 5.3750.0005.493$56830 year fixed Home 97 5.1250.0005.228$54440 year fixed Home 97 5.2500.0005.355$49930 Year NO PMI 5.8751.2506.081$592 *Rates are subject to change without notice.**Payment based per $100,000 amount. With the Fed cutting rates by .75% on January 22nd, interest rates are dropping to record lows once again.  Now is the time to purchase a home or to refinance your mortgage.  If you would like more information, please feel free to call or email.  It would be my honor to assist you with your mortgage needs. REGISTERED MORTGAGE BROKER- N.Y.S. BANKING DEPARTMENTLoans arranged ...
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By Don Draughn - Mortgage Professional
MORTGAGE PLANNING TIPSFrom the Desk of Don Draughn, Professional Mortgage ConsultantWebsite:  http://ahfmortgage.elliemae.net/ddraughn Choosing the right person to represent you in negotiating your home purchase is a major decision. Whenever you see the designation of REALTOR® (with a registered trademark) it means that person is a member of the NATIONAL ASSOCIATION OF REALTORS® (NAR), and has a commitment to meeting the standards of this organization. My team and I have a great network of professionals who have done wonderful jobs for our clients in the past. We can therefore refer you to a qualified representative who will get you pre-approved to shop as a cash buyer.How can you determine which REALTOR® is right for you?Look for an experienced Real Estate professional who works with b...
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By Don Draughn - Mortgage Professional
Do I need an attorney to buy or sell a house? I can buy a car or 100 shares of stock without an attorney. Why not a one or two family house?Buying a houseBuying a house may be the most significant and largest purchase you will make. It also involves the law of real property, which is unique and raises issues and problems that are not obvious. An attorney knows how to deal with these issues and problems. An attorney also usually has more experience in dealing with them than any other service providers for the transaction.  This applies both to a sale of a house and to a purchase.  A typical purchase and sale of a house begins when the seller signs a brokerage contract with a real estate agent, usually in writing. When the broker finds a potential buyer, negotiations are conducted through...
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By Don Draughn - Mortgage Professional
Key Rates - Last Updated on 1/18/2008Loan ProgramRate (%)Points (%)APR (%)Payment**30 Year Fixed 5.6250.0005.738$57615 Year Fixed 5.1250.0005.304$79730 Year Fixed (Jumbo)6.7500.6256.885$64930 Year FHA/VA 5.5000.0005.693$56830 year fixed Home 97 5.2500.0005.355$55240 year fixed Home 97 5.3750.0005.483$50730 Year NO PMI 5.8751.2506.081$592 Rates are subject to change without notice.**Payment based per $100,000 amount.  Here are my updated rates for this week.  If I can be of assistance or answer questions regarding these rates or any transaction, please feel free to call or email me.  I am here to assist you.
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By Don Draughn - Mortgage Professional
MORTGAGE PLANNING TIPSFrom the Desk of Don Draughn, Professional Mortgage ConsultantWebsite:  http://ahfmortgage.elliemae.net/ddraughn Every renter needs to ask themselves a question, "WHAT DO I HAVE TO SHOW FOR MY RENT PAYMENTS AT THE END OF MY LEASE?"  When you do you will only find two answers:A place to live.A nice, neat stack of cancelled checks.You really don't have much to show for it do you?There are many benefits to owning your own home.  Here are just a few:A home you can call your own!  A home you can do what you want to with!  You want to paint the walls pink with stripes - you can do it!  You want to shout and scream in the middle of the night - you can do it!  You want to show all your friends and co-workers that you are successful and moving up in this world - you can do ...
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By Don Draughn - Mortgage Professional
MORTGAGE PLANNING TIPSFrom the Desk of Don Draughn, Professional Mortgage ConsultantWebsite:  http://ahfmortgage.elliemae.net/ddraughn   The Five Factors of Credit Scoring  MyFico.com has shared information regarding the credit scoring model.  Consider these five factors when trying to improve your credit. Payment History has a 35% impact. Paying debt on time and in full has a positive impact, and late payments, judgments and charge-offs have a negative impact.Outstanding Credit Balances have a 30% impact. Debt ratio of outstanding balance to available credit is important.  Keeping that below 50% is wise and below 30% even wiser. It is never a good idea to close an account; the debt ratio will go up and the number of seasoned lines will decrease. Pay outstanding debt down as close to ze...
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By Don Draughn - Mortgage Professional
   Kiss Your LandlordGood-bye! Say Hello to Home Ownership!  How?Get the FACTS! Free Seminar When:         Thursday, February 7th from 7:00 pm to 8:00 pm Where:       Perinton Community Center                             1350 Turk Hill Road                             Fairport NY 14450 Free Credit Analysis... When you attend to help you find out if you qualify for ahome mortgage loan. Space is Limited!  Call Now!Reserve your seat today.425-5811Sponsored by Don Draughn and Chris Koch of Affordable Home Funding, 970 Perinton Hills Office Park, Fairport NY  14450
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By Don Draughn - Mortgage Professional
FREE First Time Home Buyer's Seminar Hosted By:                                Don Draughn - Mortgage Consultant                                                Chris Koch - Mortgage Consultant                                                Ellis Oster - Attorney - RJS Abstract Corporation                                                Alexandra Vysochan - Nothnagle Realtors - Pittsford When:                                      Thursday, February 7, 2008 from 7:00 p.m. to 8:00 p.m. Where:                                     Perinton Community Center                                               1350 Turk Hill Rd                                               Fairport NY  14450 Reservations Required:            To reserve your ticket(s) call Don Draughn at 425-5811 or Chris Koch at 425-58...
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