Are you Stalking a Real Estate Sleeper?

Do you have your eye on the perfect home but have yet to make a move? You know the house I mean...It's been there saved as a favorite for a couple of months and it is priced right. In fact, it is a steal of a deal. But you are still on the fence about buying a home and so you just continue to "stalk" the listing but never act on it. Maybe you are trying to time the market and see if seller of that "sleeper" is going to drop the price again. Well wake up bargain hunter! It is very possible you are not the only one with an eye on that sleeper. If you wait too long it will be gone.

A real estate "sleeper" is a well priced home that hasn't sold yet. Usually the home is a great property, location, structurally sound and priced well but has not sold. In a winter market, especially just after the holiday season, sleepers are abundant.

Maybe the home was originally over priced and though it is now priced very well it is being overlooked. Possibly several very similar homes went on the market at the same time. Maybe the seller did receive an offer and the buyer's financing fell through so now it is "back on the market" through no fault of the house itself.

But if you are a buyer sitting on the sidelines and just watching your perfect home for another price reduction, beware. I have sold a couple of sleepers over the years throughout the north and east metro. In each case, there was minimal activity on the property then BAM....we had 3 or 4 qualified parties interested in the home at the same time. In these particular cases, they weren't the cookie-cutter variety either. One particular home in Washington County/Forest Lake area had a one-of-a-kind wooded lot and was in a perfect location. After months on the market, without an additional price reduction, over half a dozen serious buyers suddenly appeared. People were nonchalant when I told stressed that the home had recently seen a sudden surge of interest. Many even "pooh-poohed" the idea and mildly accused me of trying to coerce an offer. When the first offer came in, the seller wasted no time in accepting. Subsequently, I had several parties, buyers and agents alike, in disbelief, that it was suddenly sold!

If the sleeper phenomena had happened only one time over the years, I would consider it a fluke but I have experienced this situation on homes in Washington, Ramsey, Chisago and Anoka Counties as well. In some cases I was the listing agent and others I was representing buyers.

So home buyers heed my warning, if you are on the fence watching a sleeper, now might be the perfect time to make your move...Or someone else might beat you to it!



READY to Make YOUR Move? If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me, Teri Eckholm of BOARDMAN Realty, a call or visit my website for a FREE Home Buyer Success Guide or FREE Home Value Report. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.

Copyright 2017 terieckholm.com

Hey Anoka County Homebuyers! Do you Have your Eye on a Real Estate SLEEPER?

You check the MLS link every day and there it is...sitting on the market day after day. It's your dream home and you have watched it for a couple of months now. It seems to be priced right; in fact, it is a steal of a deal. But the market has you paralyzed into watching and waiting rather than making your move on the perfect home so there you are on the fence still waiting until that perfect moment to call up a REALTOR® and put in your offer on your dream. As you continue to "time the market", waiting to see if seller of that “sleeper” is going to drop the price again, you may be missing out. It is time to WAKE UP! Because, you might not be the only one with an eye on that sleeper and if you wait too long it will be gone.

A real estate “sleeper” is a home that is an amazing deal but few people, if anyone, is paying attention to it. Usually it is a great property, location, structurally sound and priced well but has not sold. In a buyer’s market where there is significant home inventory but few buyers, sleepers are abundant.

Maybe the home was originally over priced and though it is now priced very well it is being overlooked because of high days on the market statistics.

Possibly several very similar homes went on the market at the same time and in the same condition. Picture for a second, three homes listed during the same week in a cookie-cutter development where all the homes have roughly the same floor plan. All the homes are the same age, condition, and priced very well, but only one homebuyer comes through the neighborhood during the next two months. So after 60 days, there are two sleepers left that didn’t sell. Since the houses are essentially the same as the neighboring home that sold, it's not that the homes aren't properly priced. This is another scenario that will cause a sleeper in this changed market.

And then some great homes are "sleeping" on the market because…well, there is just so much darned inventory out there!

But if you are sitting on the sidelines and just watching your perfect home for another price reduction, beware. I have sold a couple of sleepers this past year throughout Anoka, Ramsey and Washington Counties. In each case, nothing was happening on the property then BAM....we had 2-3 qualified parties interested in the home at the same time. In these particular cases, they weren’t the cookie-cutter variety either. One home in Ramsey County in the White Bear Lake/Vadnais Heights area in an ideal location. After months on the market, there were suddenly two offers in one day! Agents and clients were nonchalant when I told stressed that the home had recently seen a sudden surge of interest. Many even “pooh-poohed” the idea and mildly accused me of trying to get them of trying to coerce an offer. When the first offer came in, the seller wasted no time in accepting and I had several parties, buyers and agents alike, shocked, and more than a little miffed, that it was suddenly sold!

If the sleeper phenomena had happened only one time this past year, I would consider it a fluke but I have experienced this situation on homes in Washington and Anoka Counties as well. In some cases I was the listing agent and others I was representing buyers.

So homebuyers heed my warning, if you are on the fence watching a sleeper that is currently listed, now might be the perfect time to make your move...Contact your REALTOR® for a showing, make sure you have your pre-approval from your loan officer ready to go and make your move! Or someone else might beat you to it!

Copyright 2011www.terieckholm.com

I LOVE Being a REALTOR®~~Making Homebuyers Dreams Come True!

Back in October, I was asked by Cynthia Tilghman, Realtor® Onslow County NC Home Specialist to write about why I love my profession. I put this off for quite awhile. At first, I was going to write about what my Dream job would have been...We had just returned from Disney World and had the opportunity to meet a few of the Dream Team. These are people who spent the last two years walking up to visitors at the park and making dreams come true by letting families stay over night in Cinderella's Castle or giving them a unique behind the scenes tour or other special gift.

I have to admit, as part of a family of Disney Fanatics passing out dreams at Disneyland or Walt Disney World would be the epitome of a perfect job in my book...even if it was only a two year stint (Disney's Year of a Million Dreams ends in a few weeks...sigh.)

Every day making dreams come true...THAT would be an awesome job! But as I thought more about it, I realized that what I do makes others dreams come true too...First homes. Relocations. Move up homes. I love my job because I make dreams come true...not Disney Dreams but dreams just the same.

Today. I ran across this post from earlier this year where I wrote of helping first time homebuyers find their way home. The story gives an example of how I make dreams come true...one happy homebuyer at a time.

*****Best Part of Being a REALTOR®~ Helping First Time Buyers Find Their Way Home
Originally posted 3/8/2008 by Teri Eckholm/REALTOR®

Late on a Saturday afternoon, I received a phone call. The caller said he and his fiance had just driven by a listing of mine and could I show them the inside. "Are you working with an agent?" I inquired. "No", he said. The meeting was set for the next evening.


The young man and his fiancée arrived with an entourage of parents and assorted other relatives. Being first time buyers, they wanted assistance and approval on their first home. Looking over the home from top to bottom, they liked what they saw but needed time to think. I asked the question I always ask, "When you are shopping for a home, are you shopping for a REALTOR®?" The young man's dad answered, "They don't need an agent because they could get a better deal working directly with the listing agent." I explained why this wasn't true but could tell from the look on his face, Dad was not convinced.
I explained agency and asked the young couple to sign the disclosure on agency as required by the State of Minnesota. Buyers need to understand that at any listing for my broker, I am under contract to work for the seller and protect their interests. If the couple decides to sign a buyers' representation agreement with me, they would be in a DUAL agency when looking at homes listed by my broker. They had seen many homes with other real estate agents, but I was the only agent who explained agency to them or asked them to sign the required disclosure.

Days later, a decision was made; the young couple wanted to make an offer. A contract was signed for buyers' representation for the specific home only. Dual agency now applies. As an agent working for both parties, I could not do anything that would hurt either the buyer or seller. Because it was only for the specific home, I could not discuss other property options. An offer was presented, but terms could not be agreed upon. The buyers went away.

A few weeks later the price was reduced on my listing. I called this young couple to see if the lower price would be enough to renew their interest. It would. But there was also another new construction house in a different area that was being considered.

Another showing. They were sure that they had it down to between the two homes. I could see the indecision and confusion on their faces. I asked about the other home they were considering to help them contrast it to my listing to help my selling clients and put their home in a better light. As with most homes, neither home was a perfect fit. I am a firm believer that after weighing all of the pluses and minuses, homes will sell themselves if it is the right home for the buyer. A week passed. No offer came forth.


Finally a phone call from the young man. We have made a decision. We are not going to offer again on your listing. It is not the right home for us. In fact, neither home is right. We are starting over. "Would you help us find a home?"

Now as their buyers' representative, I got to work. For the next few weeks, we visited a dozen or so homes from the hundreds currently on the MLS that met their criteria. Traveling from Stillwater to White Bear Lake and Hugo to Forest Lake we narrowed down the field of potential homes to two or three. Finally, one sparked enough interest for a second showing with the parents, but this home also had a few quirks that raised concerns. That same evening, since we were out, I set up another showing for a home in a development that hadn't considered. Funny thing was, the home was perfect!


With the perfect home, there were no delay or hesitation in signing the offer; everything just fell into place. With every visit to the home for the inspection and walk-throughs, the young couple became more excited.

At the final walk-through, with minutes to go before they were to receive the keys to their first home, I asked them, "So, are you glad that you decided to sign with a REALTOR®?"

They answered in unison a resounding, "Yes!! You made it so much easier to find the right home! Especially for first time buyers." I don't make this stuff up...Those were their exact words.


After the closing, I received a hug and sincere, "Thank you for everything", from my young clients. As they set off to begin life in their dream home a thought struck me, what a great job I have!


Do you need an expert Buyer's Representative to help you find your Dream Home? If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR ®, give me a call or visit my website for a FREE Relocation Packet or Homebuyers Success Packet. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.
Buying a Home?


Check out my new HOME BUYER'S BLOG!


Copyright 2008 terieckholm.com

Hey Homebuyers—Do you Have your Eye on a Real Estate SLEEPER?

You know what I mean…There is a home you have been watching for a couple of months and it is priced right. In fact, it is a steal of a deal. But you are still on the fence about buying a home and want to wait until that perfect moment. You are timing the market so to speak and waiting to see if seller of that “sleeper” is going to drop the price again. Well wake up bargain hunters…You might not be the only one with an eye on that sleeper and if you wait too long it will be gone.

A real estate “sleeper” is a home that is an amazing deal but few people, if anyone, is paying attention to it. Usually it is a great property, location, structurally sound and priced well but has not sold. In a buyer’s market where there is significant home inventory but few buyers, sleepers are abundant.

Maybe the home was originally over priced and though it is now priced very well it is being overlooked because of high days on the market statistics.

Possibly several very similar homes went on the market at the same time and in the same condition. Picture for a second, three homes listed during the same week in a cookie-cutter development where all the homes have roughly the same floor plan. All the home are the same age, condition, and priced very well, but only one homebuyer comes through the neighborhood during the next two months. So after 60 days, there are two sleepers left that didn’t sell. Since the houses are essentially the same as the neighboring home that sold, it's not that the homes aren't properly priced. This is another scenerio that will cause a sleeper in this changed market.

And then some great homes are "sleeping" on the market because…well, there is just so much darned inventory out there!

But if you are sitting on the sidelines and just watching your perfect home for another price reduction, beware. I have sold a couple of sleepers this past year throughout the north and east metro. In each case, nothing was happening on the property then BAM....we had 4-5 qualified parties interested in the home at the same time. In these particular cases, they weren’t the cookie-cutter variety either. One home in Washington County/Forest Lake area had a one-of-a-kind wooded lot and was in a perfect location. After months on the market, without an additional price reduction, over half a dozen serious buyers suddenly appeared. People were nonchalant when I told stressed that the home had recently seen a sudden surge of interest. Many even “pooh-poohed” the idea and mildly accused me of trying to get them of trying to coerce an offer. When the first offer came in, the seller wasted no time in accepting and I had several parties, buyers and agents alike, shocked, and more than a little miffed, that it was suddenly sold!

If the sleeper phenomena had happened only one time this past year, I would consider it a fluke but I have experienced this situation on homes in Chisago and Anoka Counties as well. In some cases I was the listing agent and others I was representing buyers.

So homebuyers heed my warning, if you are on the fence watching a sleeper, now might be the perfect time to make your move...Or someone else might beat you to it!

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If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me a call or visit my website for a FREE Relocation Packet. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.

Copyright 2008 terieckholm.com

Whose Home Would YOU Buy in the Hundred Acre Wood?

Imagine you were going to buy a home in the Hundred Acre Wood. Let's pretend that for a minute that Pooh and all his friends have their homes up for sale. Whose home would you choose?

• Eeyore’s? Not a chance. An A-Frame built of sticks without a proper foundation that a butterfly could knock down in a second isn’t worth consideration.


• Gopher’s? Though Gopher’s actual home is never shown, it would appear to be underground. Underground, earth berm homes lack the curb appeal necessary for most buyers.


• Owl’s? The tree Owl’s house is built in doesn’t seem to support the weight of the home. On a very blustery day, the whole thing could be blown down.


• Pooh’s? Now at first glance, Pooh’s place looks sturdy but I’d question the upkeep of a home maintained by a bear of very little brain. When a homeowner cannot even take down the name plaque of the previous owner, Mr. Saunders, it is doubtful that he would have the ability to do the upkeep on the interior. Besides when the rain, rain, rain came down, down, down, much of it was inside Pooh’s house.


• Rabbit’s? Now this is a character that cares for his property! Rabbit always seems to have a rake or broom in his hand. His garden is fenced and laid out perfectly, but he does seem to have a egress problem with his door. If a guest cannot have dinner, or several pots of honey, without getting stuck on the way out, there is a problem.


• Tigger’s? It seems that Tigger may be the homeless resident of the Hundred Acre Wood as he is always bouncing up to his neighbor’s homes but never appears to be at his own.


• Christopher Robin’s? Though probably the best choice of a home as it is currently being occupied by humans, Christopher Robin’s home is not located in the Hundred Acre Woods and so it does not meet your buyer criteria.


• Kanga's? Given this specific buying criteria, I would choose Kanga’s home. She seems to have a lovely, well maintained rambler with a covered front porch. We know it is a two bedroom because Roo has his own bedroom. All other homes appear to be one room efficiency dwellings. To me, Kanga’s two bedroom gem appears to be a perfect little cabin in the woods.

The question above is whimsical and not unlike what an actual buyer might go through when considering homes for sale currently listed in the Minneapolis/St. Paul Multiple Listing Service (MLS).

I have shown a few foreclosures this past year that were not much better than Eeyore’s pile of sticks. This is especially true of a few unmaintained decks. Several are so rickety, clients and I avoid being on at the same time if at all.

There have also been homes with narrow hallways and doorways. Though, I only recall one home where a full grown person could have gotten stuck in the floor opening of a spiral stairway, there were several others where I had to recommend that buyers consider how furniture would get in and out due to tight corners and narrow spaces.

And maintenance, or lack there of, by people whose heads seem to be a little “stuffed with fluff” is a common occurrence. I have seen homes where repairs were quite literally made with duct tape rather than a proper replacement.

Most home buyers strive to find the well maintained gem similar to Kanga’s house. Buyer’s dream homes usually are properties where all repairs and replacements have been made to code with proper materials. It is a house that is usable and accessible to everyone in the family without ducking their heads or turning sideways to squeeze through a doorway. Sometimes a buyer will even choose to look outside their original location parameters and consider a home on the edge of the preferred community to buy the exceptional home of their dreams.

Finding and buying the perfect home takes time but the process is made much easier when working with a knowledgeable REALTOR® that can tell an Eeyore pile of sticks from a comfortable cabin like Kanga’s.
*Note All Character Photos were shots of Disney® Pins in a personal collection.

Are you searching for a perfect little Minnesota home and need help from a professional REALTOR ® to tell Kanga’s Gem from Eeyore’s A-frame? Give me a call or visit my website for a FREE Relocation Packet. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.
Copyright 2008 terieckholm.com

Rethinking the 2008 Bridal Registry—China, Silver and a New Home?

Wouldn’t it be great to take one of those little barcode readers beyond Target’s towels, toasters and flat screens and head out to the nearest neighborhood and tag something that a new bride and groom really need, their first home? Shopping the Parade of Homes or at a Sunday Open House, you could click on your favorites and receive the front door key just in time to be carried over the threshold. Only in a perfect world, right?

I know it is a crazy idea but brides and grooms getting married this year are going to face a tougher time finding a loan as first time buyers. Zero down loans have all but disappeared from the landscape and first time buyers will need cash in their pockets to put toward a new home. As mortgage programs continue to change and evolve over the next year, there is a reality to saving for that down payment. A forward thinking young couple might want to divert some of their wedding funds and gifts into an real estate investment in which they can begin their lives together.

Starting this year, new home buyers are going to NEED a down payment for a house. Not just a few bucks either. In most cases a buyer will require a minimum of 3-5% to put down. With an average Minnesota starter home in the $200,000 price range, 2008 brides and grooms will need to save at least $6,000-$10,000, plus closing costs.

But all is not lost for first time buyers, but a little forward thinking is in order. There is a lot of money involved in most weddings; both on the party planning and the gift recipient side. A savvy bride and groom might be able to figure away to have the perfect wedding AND a dream home.

New Home Gift Registry Young couples getting married register for gifts to let their friends and family know exactly what they want and need. If you need a house, why not let your guests know? Maybe the insert in the wedding invitation should read:

“The couple is registered for a small number of necessities at Target, JC Penneys and Macys. If you would prefer not to shop, they are also saving for a down payment for a new home and would a appreciate monetary gift toward their dream.”

I don’t know what Miss Manner’s would say about but I think a financial wiz like Susie Orman would applaud the idea.

Wedding Budget With the average dream wedding going for over $20,000, maybe a little arranging of the budget is in order. Those saved dollars from the dream wedding can go toward that dream home instead. Now, I am not suggesting cheaping out on anything or everything, just take a look at where you can economize on your budget. Maybe you can go forego the fancy invitations or select a less expensive dress. Maybe that trip to Hawaii would be a better choice for your fifth anniversary and a road trip to the Duluth to create newlywed memories along the north shore of Lake Superior should be considered instead. Whether on wedding details, reception or the honeymoon, a 25% savings on the average wedding is $5000 cash that could go toward your dream home.

So brides and grooms start thinking about your future lives together and create a plan for your dream home. Though those scanners will not work outside of the Parade of Homes, I do! As a professional Realtor, I have helped many young couples find the home of their dreams. I know the north and east Twin Cities housing market and can help you spot a deal from Forest Lake to Andover. I will assist you in writing a fair offer and negotiate a deal so your dream can become a reality. Working with an agent to find your first home, takes the stress out of the home buying process so you can focus on preparing for your big day.



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If you are buying, selling or relocating to Minnesota and need help from a professional Realtor, give me a call or visit my website for a FREE Relocation Packet. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.

Copyright 2008 Teri Eckholm http://www.terieckholm.com/

How to Choose a Realtor—Why a Good Friend is Not Always a Good Option

Yesterday, I was on the phone with a client. This family was referred to me by past clients that I had met at an open house. I have worked the family for several years now and while I now consider them friends, I was their Realtor first.
While chatting about other things, my client mentioned her son and his wife had just signed an agreement on their first home. I didn’t have a second to feel disappointed as she immediately said that they had really encouraged him to work with me. But they chose to work with the wife’s father’s good friend instead. Dad’s friend was a long time family friend from church and they just couldn’t say no. She also added that they now questioned the wisdom of their decision.
My clients accompanied the young couple on a final visit to the two homes they were considering. Now I have taken my clients to several properties throughout Anoka and Chisago counties looking for a hobby farm that they will be proud to call their home. When we look at a house, I know that they are thinking about which kid gets which room and if the land is suitable for horses. I consider it an important part of my job to be the look out for the houses’ potential problems that they can discuss with an inspector about like the roof, foundation, window sills and ceilings for indications of water damage, signs of pest infestation etc. Though I am not an inspector, there are things real estate agents should be aware of and look out for to avoid problems for their clients.

My client said she could not believe her son’s agent. He just stood back, said nothing and let the young couple walk with their parents and grandparents around the house. Even when inquiries were made, he offered no assistance. She went on to say that of the two homes: one all ready done and move-in ready and one requiring an abundance of work, the couple chose the latter. And this low-key agent advised his clients to offer Full Price as the only way to get the home.

What? Did I hear that right? Full-price in a buyer’s market? This is where the mom had to offer advice to her son on his first home purchase. Advice he was not getting from his agent. No one offers full price in this market. The son and daughter-in-law did offer less and their agreement was accepted. Through the purchase agreement process they realized maybe this agent wasn’t their best choice. Maybe he was new and didn’t know the paperwork. Maybe he was one of the many agents who work one or two deals a year and isn’t aware of how negotiations change in a buyers market. Maybe he just isn’t experienced enough to provide adequate advice. Maybe he doesn’t like the negotiation process.

I did a little research and this particular agent was not in a dual agency. Had he been a dual agent, he could not advise on terms, such as price, as being under contract with both clients, an agent cannot do anything to harm either. But I also discovered this family friend works on the other side of town from where this young couple wanted to live. It is hard to show homes and advise on an area when the agent is unfamiliar with it.
With over 30,000 licensed agents in the state of Minnesota, everyone knows a real estate agent. Some of these people have had their licenses for years but only dust them off once a year to “help” out a friend. Others are good people who have left other professions but were too young to retire and decided to give real estate a go. Many agents look to supplement the income from their full time job with a sale here and there. If you are considering hiring a good friend who fits into one of these categories, think long and hard before you do.

A home is the biggest and most important investment most people will make in their lifetime. You owe it to yourself to have the BEST representation in this transaction. Take the time to interview several people before signing a buyers’ representation agreement, not just your trusted friend. If the home buying process does not go well, it could not only cost you money, it could cost you a friendship.

If you are relocating to Minnesota, are looking for Homes for Sale in the north and east Twin Cities metro area and need help from a professional Realtor, give me a call or visit my website for a FREE Relocation Packet. I specialize in acreage properties! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.

Copyright 2007 terieckholm.com

Maintenance Tip: Change YOUR Furnace Filter

When my husband and I bought our first home in North St. Paul, MN, we had no idea of how to maintain a home. One case in point was our furnace and central air conditioning. We bought our home in September but it wasn’t until a year later when we had our furnace serviced for the first time that we changed the furnace filter! Yes. For an entire heating and cooling season our furnace had to suffer with one of those cheap forty-nine cent filters.

When I became a Realtor a few years later, I learned that we were not alone with forgetting to change filters. I have attended enough inspections and checked the filters at a few hundred homes in order to make this statement.

However, all joking aside, not changing your filter on your furnace not only wastes energy, it strains your heating/cooling system which could cause the system to fail. No one wants there air conditioning to fail on a 95 degree, humid Minnesota day. Nor would they want to be without heat on a bitter cold January morning.

Here is an easy way to remember to change that furnace filter. Filters should be changed monthly. It doesn’t matter if you buy the most expensive filter or the cheapest. The furnace filter should be changed monthly, period. Since most home owners also have a monthly mortgage payment, change the filter when you make your house payment!



If you are relocating to Minnesota, are looking for Homes for Sale in the north and east Twin Cities metro area and need help from a professional Realtor, give me a call. Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.


Copyright 2007terieckholm.com

Rent VS Buy? It's Time to Revisit the Question!

Early indicators for 2007 are that rents are on the increase. As occupancy rates rise, often rent increases follow. If you have considered purchasing your first home before, now is the time to revisit the question:

Should you rent or buy?
I have discovered a great website to help you answer that question. Ginnie Mae is an organization providing that provides the private mortgage insurance to most government (FHA and VA) loans. There website provides tips, tools and ideas to help out the first time buyer.

One of Ginnie Mae's most helpful tools is their Rent versus Buy Calculator. It is simple to use: Enter you current rent, the price of the home you are considering, how long you intend to stay at the home and a few other details. The calculator will provide you with an indication of where you will stand financially if you make the purchase. It is a good tool because it allows you to adjust the estimated property value increase. (In this slower market, it would be safer to consider a 0-2% increase, without consulting a Realtor for an estimate for a particular region or neighborhood.)

Ginnie Mae's site not only has the Rent vs Buy calculator, there is an affordability calculator and loan estimator. There are tips for the first tip homebuyer outlining additional financial considerations and costs for owning a home. There are ideas and articles to help you understand your mortgage options. Check it out and as always, if you have any questions, I am just a phone call or click away!