Lisa Carey Real Estate Blog at Carey Cottage, Tallahassee

Low Monthly Payments with HOP

Recently I’ve had the good fortune of meeting with many first-time home buyers eager to enter the real estate market. And while the desire is there, sometimes the funding is not. So how did we get them into a home? HOP! The HOP program has helped me place many home buyers, and not all first-timers, into high quality new construction homes with only $500 down and very low payments.

The HOP program provides qualifying buyers with between 25% and 35% of the cost of the home as a no-interest, deferred payment loan. The buyer only makes payments on 75% of the cost of the home. And, closing costs can be rolled into the loan. The other 25% is like a silent second – it doesn’t accrue any interest, and no payments need be made until the home is no longer the buyer’s primary residence. The program is based on income and the number of residents destined for the home.

It is important to note that HOP homes can only be built by qualifying builders, including Russell Homes (www.BuiltByRussell.com) , and must meet certain criteria. The interior doorways are wider, thermostats and light switches are lower, and other criteria are standard throughout that make the home desirable at resale for those with physical disabilities. Refrigerators are always included as part of the sale, and currently Russell Homes is offering faux wood blinds throughout their homes. For buyers on a budget, those are two costly items.

For example, Russell Homes currently has an inventory home in Orion’s Point, Midway, Florida. See it as one of my featured listings on the home page www.CareyCottage.com . The home is built to HOP standards and currently listed at $159,900. It features three bedrooms, two baths, a two-car garage, inside utility room, vaulted ceilings, an architectural shingle 30-year roof, a James Hardie Board exterior, and tile in all wet areas. It includes a complete kitchen package and blinds in every window. If Russell Homes pays the buyer’s closing costs, a qualifying buyer can put $500 down and have a loan of only $124,000 to pay on. And, the HOP program offers very low fixed rates. A recent finance sheet from Laura Palmer Wells at People’s First showed a rate of 5.40% on a 30-year fixed. Using the same figures as above, the buyer’s payments would only be $931 including PMI, taxes and insurance. You can reach Laura at laurawells@peoplesfirst.com.

If you would like more information about the HOP program, please contact me at Lisa@CareyCottage.com or call me at (850) 212-3083. This may be your road to home ownership.

Great news!  Russell Homes has won the Silver award for it's price catagory in the 2007 Parade of Homes.  The midtown cottage was well received by both judges and the public during the two May weekends of the Parade.  The new construction home is four bedrooms, three full baths, an office, great room and gourmet kitchen.  Located near downtown, Leon High, and Tallahassee Memorial Hospital, this cottage combines old-world charm with modern conveniences.  The judges deemed the kitchen the home's best feature overall.  To see the home, please go back to my home page and watch featured listings.  Or, check out the virtual tour at http://www.realtourvision.com/tour.display.new.php?utl=RE-1126-7CWIEN-03 

While a relatively new builder, Russell Homes (www.BuiltByRussell.com) has hit the ground running with over 12 builds in the last 10 months. 

If you are interested in a Russell Home of your own, please contact me at Lisa@CareyCottage.com. 

Good news to share about Armor Realty of Tallahassee!  We're number four AGAIN in production & volume in the Tallahassee Board of Realtor's report. 

Think that isn't a big deal?  Consider this:  Armor Realty of Tallahassee has only 25 active agents, yet surpassed most of the franchise brokerages with many, many more agents.  Some with even over 100 agents.  And, Armor Realty of Tallahassee remains the top independent real estate agency in the Tallahassee Board of Realtors.

And even more impressive, while the Tallahassee real estate market is down 30% from this same time last year, Armor Realty has actually seen an increase in production so far this year. 

So how do we do it?  I don't have any top secrets to share, but will do my best to share the Armor philosophy that I think makes a difference.  First, Armor only hires full-time agents who are committed to making a career out of real estate.  Part-time agents use real estate as a part-time job.  Full time agents embrace real estate as their personal business and as a career. 

Second, the training is exceptional and on-going.  Before working with customers, Armor Realty provides agents with months of intensive training complete with homework, field trips, tests and situational exercises.  Agents are mentored by senior Realtors and shadow them from listing presentations, to closings, to the stickiest of situations.  Even the most experienced Armor Realtors attend weekly sales meetings which include presentations and training with local real estate lawyers, marketing experts, and more.  Continuing classes on ethics and contracts are mandatory for all.

Third, but certainly not last, is the Armor commitment to do the right thing and put our customers first.   

If you are considering buying or selling, please visit the Armor Realty website at www.ArmorRealty.com.  Meet our agents, learn about our participation in the largest Relocation Network in the world, and discover our long standing tradition of exceptional customer service. 

We're proud of the strong business we do in the Tallahassee area & thankful to the many customers who have entrusted us with their real estate business.  Thanks Tallahassee!