Fha Loan Requirements

You are currently browsing articles tagged Fha Loan Requirements.

BLOG-CharlestonRidgeEntranceSaraland02262010 [05] Over the past several years in Saraland, Alabama, Celeste Road has been a popular area for home builders due to the availability of beautiful wooded land with interesting terrain and vegetation.

Charleston Ridge is one of these newer residential subdivisions located along the northeastern side of Celeste Road, about 3.2 miles northwest from U. S. Interstate Highway 65.

Charleston Ridge was developed with 38 residential building lots about 2 years ago. At the time of this writing, Gooden Homes, Inc. has built five Craftsman style homes. Residential lot values will generally run, in the opinion of Certified Appraiser, Albert Cheney, between $55,000 and $65,000 depending on its location within the development. There are about 60% of the lots available to purchase and build your dream home. BLOG-CharlestonRidgeHomeSaraland02262010 [03]

The most recent sale prices within Charleston Ridge range from $279,900 to $290,400 with most of the gross living areas around 2,800 square feet (minimum requirements) to 3,027 square feet. There is a two car attached garage requirement for the subdivision and an architectural review of all plans & specs. before building your new home.

Call Albert Cheney, Certified FHA Approved Residential Appraiser, Cheney Appraisal Services, (251) 533-2424, for more information about real estate appraising in Baldwin County and Mobile County of Alabama. Click these web-links for even more information about Albert Cheney and the Mobile Bay Metro Area: http://www.CheneyAppraisalServices.com/ or http://www.RealtyLeaders.biz/. Albert is ready to answer your questions!

Lakeview Appraisal Service, LLC is located in New Orleans, Louisiana. Kevin T. LaGraize (License: LAR1088), Certified FHA Approved Real Estate Appraiser, covers Jefferson Parish (New Orleans and Metairie areas) and Orleans Parish.

Some of Kevin LaGraize’s services include FHA Residential Appraisal Reports, HVCC Compliant Reports, Residential Appraisal Reports for Conventional & Secondary Mortgages, Refinance Reasons, Relocation, Settling Estates with real property, PMI Removal as well as homeowners needing assistance with a market value estimate to determine their asking price.

Certified Real Estate Appraiser Kevin LaGraize has the training and experience which makes him one of the leading New Orleans real estate market resources for many Appraisal Management Companies (AMCs) and mortgage lenders across the United States. Kevin LaGraize has a proven track record of reducing a lender’s timeframe by turning most home appraisal reports within a few business days.

Click the web-link and find out more about Lakeview Appraisal Service, LLC in New Orleans, Louisiana. You may also call Kevin at (504) 284-3445 or toll free by calling (877) 284-3445. You may also email Kevin at kevin@lakeview-appraisal.com. Kevin’s mailing address is:

Lakeview Appraisal Service, LLC
101 W. Robert E Lee, Suite 403
New Orleans, LA 70124

The Daphne, Alabama Lake Forest development is the largest residential community in the State of Alabama. Lake Forest has around 3,400 property owners with approximately $38 dues per lot. This PUD development has a clubhouse, golf courses, horseback riding stables, swimming pools, tennis courts and a yacht club on Mobile Bay. Lake Forest is located on the south side of U. S. Interstate Highway 10, east side of U. S. Highway 98, and located near major regional shopping centers.

Lake Forest is conveniently located near Historic Downtown Mobile, Alabama by traveling about 15 minutes west across the I-10 Bay-Way. Gulf Shores, Orange Beach and Alabama’s white sandy beaches and blue-green waters of the Gulf of Mexico are located only about a 35-minute drive south southeast.

Currently, Lake Forest has at least thirty-eight (38) active MLS (Multiple Listing Service) REALTOR listings. Most of the listed homes have 1,300 to 3,000+ square feet (varies from unit to unit) and the asking prices will primarily range from $125,000 to $255,000.

There have been around forty-eight (48) MLS home sales in the past twelve months according to the Baldwin County Association of REALTORS. The vast majority of these Lake Forest home sales ranged from $75,000 and $210,000.

The Sales Per Month Absorption Rate is currently 4.33 homes per month in Lake Forest. With 38 active listings, the current housing supply is 8.78 months (38 active listings divided by 4.33 home sales per month).

Lake Forest ’s Median Comparable Sale Price is now $108,000 compared to $120,000 four to six months ago. The days on market (dom) appears to mostly range from 96 days to 147 days over the past 12 months.

Lake Forest ’s Median Sale Price as percentage of list price has slipped slightly over the past twelve (12) months: 96.445%, 7-12 months ago; 96.077%, 4-6 months ago; past 3 months, 94.943%.

For more information about Lake Forest, go to this weblink, http://www.lakeforestpoa.com/.

Albert Cheney, Cheney Appraisal Services, covers the Mobile Bay Metro Area, Baldwin County and Mobile County of Alabama. Albert Cheney is an active Certified Residential Real Property Appraiser and FHA Approved Appraiser with 35+ years experience in the real estate industry.

Call Albert Cheney at (251) 533-2424 or Albert@CheneyAppraisalServices.com if you require more information about Alabama real estate and ordering a “Certified” real estate appraisal report.

http://www.mobilealabamafharealestateappraisers.com – FHA Guidelines: Proposal Would Increase Downpayment, end Financing of Closing Costs

FHA Loan Pros is making more sense out of the FHA situation, read here.

Here’s a snippet:

“In a move intended to reduce taxpayers’ exposure to losses associated with defaulted FHA loans, legislation is being proposed that would tighten FHA loan requirements:

The minimum down payment would increase from 3.5% to 5% of the loan amount.
Closing costs would no longer be permitted to be “rolled into” the loan amount.
This would mean that potential homebuyers would need to have more cash available for coverin these costs. The principle concern behind these proposed changes is that lenient lending requirements can encourage people to take out home loans they;re not prepared to pay over the long term.

Demise of “Sub-Prime” Lending Increases FHA Market Share”

Office: 251-533-2424
Mobile: 251-533-2424
Fax: 251-252-7737
Email Albert Cheney

Cheney Appraisal Services Website

Find homes for sale

CITY, STATE or ZIP

PRICE RANGE

BEDS

BATHS

SQ.FT.

PROPERTY TYPE

LISTING TYPE

OPEN HOUSE

Craftsman Style Homes In CHARLESTON RIDGE, One Of Saraland’s Newer Home Developments.

Spotlighting LAKEVIEW APPRAISAL SERVICE, LLC in New Orleans, Louisiana.

CERTIFIED FHA REAL ESTATE APPRAISERS AND REALTORS TALK ABOUT THE MARKET CONDITIONS IN DAPHNE’S “LAKE FOREST,” BALDWIN COUNTY, ALABAMA.

Siderbar Left

CONTACT US:

CURRENT MORTGAGE RATES

Pages

RECENT POSTS

Check Out Cheney Appraisal Services YouTube Channel

Categories

FIND HOMES FOR SALE

Receive Email Updates From My Blog