Club Chaos Agents - All Things Hollish, Wacked, and Jacked

 

 

Life With Wee People - Two Outstanding Maryland Homes

My kids love going to work with me, especially if it means an ActiveRain road trip.

While we hop and skip our way through a few private showings this week end to collect some more eye candy for our animation project, the boys and I want to share two outstanding Maryland homes with you: The Chanukah House and The Chocolate House.

They happen to be two of our fave out of state spots to visit and Stephen, The Minion Blur is completely wild over The Chocolate House.

I want one... I kinda want them both... I'm a wee bit greedy when it comes to eye candy and have no problem feeding my real estate addictions (LOL).

I could get used to Stephen window dancing and Noah walking around scribbling notes (LOL). Noah is definitely a Chanukah House man and nick named it The Cat House. My fave moment was seeing Al Capone's stove... That puppy still works. Very cool.

Pssssst... the shorties can get you in if you want to see them. It's by appointment only with The Chocolate Car (LOL). ;-)

The single The Chocolate House is live in iTunes. The music for Chanukah House is turning into an EP (because it's a four family from the 1920's and Stephen believes each apartment should have it's own theme song - LOL).

The company I work for, StraighterLine, is moving its offices to the Emerging Technology Centers (ETC) at 1101 East 33rd Street, Baltimore MD.  I saw the space a few weeks ago and it is a great building.  Of course I forgot to snap some photos of the place.  The facility used to be a high school that was converted into offices. The track and field are still in place and usable.  Don't worry, all the other high school signs are basically gone.  There are no lockers in the halls, blackboards, science labs etc.  I do wonder if there is a gym and cafeteria...hmm I'll have to check that out on my next trip down.

Our team has been working remotely and this is exciting for us to have a formal office.  Even if some of us will continue to work from other locations.

What is so special about this move to the Emerging Technology Centers (ETC)?

Well, the ETC, a venture of the Baltimore Development Corporation, is a non-profit business incubator focused on growing early-stage technology and biotechnology companies. The ETC promotes economic development, providing business, technical, and networking connections to help these companies grow and prosper – adding to both the job and tax base of Baltimore City. To date, ETC client companies have received over $865 million in funding and have been issued nearly 200 patents. Since 1999 ETC has provided assistance to 201 companies of which 71 are current companies. Eighty-three percent of its graduate clients are still in business.

Moving into Emerging Technology Centers (ETC) is so noteworthy that the Baltimore Sun wrote an article about the move in yesterday's paper.

We hope that this move helps our education company grow and continue to succeed.

If you are in the area give us a call and stop by.

 

 

 

 

 

 

My girlfriend Lise was kind enough to make this available for a reblog. What a great photograph. :-)

 

Life With Wee People: Of Chocolate Houses And Ostrich Egg Hunts

I bet you thought taking your wee ones on an Easter Egg Hunt was the bomb diggety (LOL). Being quirky, I figured my wee people need help finding their Easter eggs so why settle for little colored ones when you can send your kids looking for a huge Ostrich egg (LOL). If you're going to have kids doing Localism then you might as well make their day trips worth their while. Westminster, Maryland is a lovely spot (LOL). I myself have a thing for eye candy. It's an addiction. I have to have it so it doesn't take much to get me out on the road between assignments to see something beautiful.

My kids have discovered photography so I also have to find something interesting for them to experience and explore. It's a game we love to play so welcome to our latest hunt for eye candy excursion... I now have to add an educational twist to them so here it is... :-)

According to Wikipedia, "The Ostrich is the largest living species of bird and lays the largest egg of any living bird (extinct elephant birds of Madagascar and giant moa of New Zealand laid larger eggs)." Wikipedia also states, "...on average they are 15 centimeters (5.9 in) long, 13 centimeters (5.1 in) wide, and weigh 1.4 kilograms (3.1 lb), over 20 times the weight of a chicken egg. They are glossy cream-colored, with thick shells marked by small pits." With stats like these I was sure Mr. PDD-NOS would have no problem distinguishing them from rocks (LOL). Being a wee bit quirky, these birds pick and choose which eggs to keep and discard, so if you go visit what used to be an Ostrich Farm you are bound to find them hidden just about anywhere.

Since Stephen, the Minion Blur is about to turn four at the end of the month, I figured our usual habit of celebrating the whole month for us both being April babies could use some really cool eye candy moments for our "workbooks." My kids are hands on learners so my gal pals and I are frequently cooking up interesting stuff for them to do so they can get the punch line to the wee people agenda. Mr. Autistic decided to stay home with his Daddy, so Mr. PDD-NOS and I packed a bag and took off the the country.

If you have really cool friends with access to unique properties you can make all sorts of learning experiences and mini-vacationing dreams come true simply by sending off a text message or, in my case, habitually picking up the phone to ask the infamous Twitter question of: "Whatcha doing?"

Ask enough talented friends "Wassup?" and you'll discover all sorts of great opportunities waiting for you to take hold of and explore. Like Cindy Tsui"s girlfriend's hubby opening a new restaurant in Boston (which I will review when we wander off to invade Mass) and Margaret Rome working on her Open House schedule while looking to do something wonderful for a Graphic Designer named Lucy who happens to be a valued client of hers. I rarely pass up opportunities to meet artists or chefs, so after chatting it up we decided to cook up an impromptu Open House so shorty could get his MD eye candy hunt on and we could spend the day working together at a gorgeous home, exploring the Maryland countryside.

You can check out http://www.beebecomm.com/services.htm if you want to see an example of her work. She designs websites besides creating graphic art. :-)

The cool thing about having stellar mentors is hanging out while learning something new. What makes a visit a real treat is when a seller doesn't mind you making yourself at home inclusive of helping out with the yard work. I happen to love yard work and gardening so it is always a treat if I get to play in the dirt (with or without the shorties in tow - LOL). I have a lot of relocation projects to do so I frequently mix pleasure with business. It was a pleasure spending the day with Margaret and Lucy. I am looking forward to spending more time with them.

I can't visit with everyone but when I do get out and about I am infamous for snapping off shots and sending them to my clients. I learned from Elizabeth Weintraub that nothing beats previewing a property so you don't waste time sending people somewhere they really don't belong. The cool thing about Lucy's house is I can't imagine anyone NOT wanting to belong there (LOL).

Stephen wasn't inside two minutes before he was demanding I take his shoes off. Shorty only does that when he is home or in a house that feels like home. When Stephen chirps "shoes off" that is a pretty high compliment from Mr. PDD-NOS. My kids only do that when they are comfortable with people and places. That's another reason I like to have them tag along with me at work. If they don't like a house I will not take the listing. I will refer you to an agent who does not have quirky kids in tow that happen to be the boss (LOL).

The anticipation of seeing this place was further fueled by the lovely farms and country homes littering the hill sides. The fields are turning green and Stephen and I pulled over several times to enjoy the sunshine highlighting the long and winding country roads. I'm thinking I should pack a picnic basket for our next visit to Lucy's because the flowers are starting to bloom and we love eating outside. I've been talking to everyone I know about coming along to hang out and view it and if I had to pick a place where I wanted to hold an ActiveRain Open, this would definitely be it...

I know, I know, this from the Native New Yorker, eh? (LOL) Oh well... gorgeous is gorgeous. I am an equal opportunity lover of beauty. Doesn't have to be in my state for me to enjoy it. Why limit yourself if you don't have to? Besides, there isn't a bad view from a single window. How often do I get to say that? Not very (LOL). Check out some of shorty's fave spots to wax poetic about as only a three year old can. Anything that gets my speech delayed kid talking always captures my attention.

Call Margret if you are interested, tell her I sent you and take the drive down.

I like to stay at the Hilton Pikesville when I am not staying with my friends. It's located at 1726 Reisterstown Road, Pikesville, Maryland, United States 21208 Tel: 1-410-653-1100 Fax: 1-410-415-6232. You can stay where ever you want, however, if you're hanging out with me, my pals and the shorties then that's our spot. If I have a client in tow that is where we are staying. I am already plotting and planning our next drive down so if you are a serious buyer you can call me if you want to. The property shows by appointment only.

We are cooking up another open house and I might even throw my B-day party down south because I have two pals I may be bringing with me to check out where I've been sneaking off to without warning (LOL). My brick and mortars get way more information than my blog readers. I do share a lot but I don't tell you everything (LOL). ;-)

Did I mention Lucy's house has a couple of fireplaces and several balconies? Hmm... There is a lot I haven't mentioned (LOL). I shall blog about it later when I go back... You should see this place for yourself because there are spots I didn't get to yet. Seriously... There are watering holes for the animals to enjoy and great spots to spin off and get your zen on with a mountain bike. The Ostrich pens are empty but if you have dogs and/or horses (or not) you are going to love this place.

Got crazy kids like I do? Stick 'em in the pens (LOL). Stephen made a bee line for them several times but I had to distract him because I was too busy wanting to go the other way. To shorty fence = yard to play in (LOL). Think of it as fencing in your fave little lunatics within wide open spaces (LOL). Bring your GPS to tag the house and then go hiking. I would hate to have you get lost in the woods while exploring 28 acres of beauty. If you are citified, stick within eye distance of the house (LOL).

Wait until you see the stream out back... Way back... I have soooo gotta take pictures of it (LOL) :-)

 

 

 

 

 

 

 

I have been talking about comparing FHA loans to Conventional loans and how to use your money wisely in my last 2 mortgage posts. The links are below and I suggest you reading them to find out what the fuss is all about. But in this post, I wanted to bring up 2 important points.

• some people argue that you should put more money down if you have it, so you don't become up-side-down in your property (I disagree with this statement)
  

• another point is that you could actually make a lesser down payment and take some of that extra money that you saved and use it to buy your interest rate down. It all comes down to your goals.

 

So, let's jump into this a little deeper...

 

 

 

So your fear is that you could be upset down on your property if you don't put 20% down or so? Let me pose a question to you. Why would it matter right now? Homes aren't suppose to be purchased like a car, to where you sell it or trade it within 2 to 5 years. Sure, unforeseen things can happen. But homes are suppose to be a place to live in, raise a family, possibly have your kids go to that school system, and for fond memories. And overall, it's a long term investment.

If you were to buy a home for $200,000 and put 20% down, you would have a mortgage of $160,000. What happens if in a year or so that value of your house drops to $165,000?  Then you have nothing at that moment. And if you needed money as an emergency, you just can't walk up to your house and say, "house, please give me some of money back." Especially not in today's market, because of the fact that it's tougher to get mortgage financing.

 

I don't have a crystal ball, but home values should come back in the next 3 to 5 years. And in some areas they have come back now. But if they don't, why not take the money that you saved from not putting it all down as a down payment and invest it, to make more money. It can happen, think about it. And worst case, you have that extra money for emergencies.

Please read - Don't be cash poor - Cash is king

 

 

 

 

Onto the second part of this post, something else that you could do with your left over down payment. Buy your interest rate down, which allows you to get another bang for your buck. It's very simple math.

In my scenario below, you will be putting 10% down on a FHA loan as opposed to the required 3.5% down for all FHA loans.  I will show you the difference in mortgage payments and what you could actually do with that extra money, even when it comes down to lowering your interest rate.

 

 

 

 

FHA Loans – Comparing 10% down to 3.5% down

Scenario # 1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

My sole purpose in this comparison is to show that cash can be king and that you aren't hurt as much if you just put 3.5% down on FHA loans.  On the 10% down, you will be better by $4,193.60 in 5 years. But by putting 3.5% down, you are keeping $14,787 in your pocket upfront and your total monthly mortgage payment is only a total of $41.61 extra. In my honest opinion, that is a very good trade off in order to have more cash left over for several things such as :

• monies left over to fix up the house

• future home repairs

• new furniture

• loss of future income

• family emergencies

• possibly put some money into investments to get a better return
  

 

Overall, just left over cash for security for unknown circumstances....

 

 

 

FHA Loans – Comparing 3.5% down w/buying down interest rate

Scenario #2

 

 

 

 

 

 

 

 

 

 

 

Lastly, this is a very simple comparison. You now have the extra cash from scenario #1 above to use to buy down your mortgage interest rate. Not only do you save $91.22 per month, but it only takes you approximately 3 years to recoup the money that you spent to buy down your interest rate. As I have stated in several posts, the average person stays in their home for over 6 years. Your end result then is that you will save more money by buying down your interest rate.

 

 

 

Disclaimer :  The rates are examples in today's market, aren't any form of advertising, and aren't for solicitation of new business. It's merely to educate the consumer. And the spread shown in these examples are real as in the profit margins for both sides, in order to compare apples to apples.

 

 

 

For more FHA loans vs conventional loans comparisons :

• FHA loans vs Conventional loans - A true numbers comparison with 5% down -  12-20-08 -Using a 710 credit score
  

• FHA loans vs Conventional loans - A real comparison with 5% down - 11-15-08 - Using a 659 credit score
  

• FHA Loans vs Conventional Loans - 20% down - A Rude Reality Check -  04-03-09  - Would you believe that FHA loans could be cheaper even with 20% down?  Come see why and how.

• FHA Loans vs Conventional Loans - 5% - 4 comparisons that you need to know - 05-02-09 -Comparing a FHA loan against 3 types of conventional loans with different types of monthly mortgage insurance. Guess who won while still using a 679 credit score.....

• FHA loans vs Conventional loans - Knowing the true comparisons - 07-10-09  - A great comparison with a 679 credit score and 5% down.  This example will still show that even with a better than average credit score, that FHA loans are still better in many cases.

• FHA loans vs Conventional loans - Things you need to know with 10% down, especially in regards to Condos - 09-19-09 -

 

Donw Payment Series - A Must Read -

• FHA loans vs Conventional loans - A real comparison with 20% down - Part 1 of 3 - 01-28-10 - Not much of a difference, unless you stay in the house for more than 5 years. Hence why a loan officer should be talking about your goals. So very important, yet many dont ask.

• FHA loans vs Conventional loans - Don't be cash poor!! - Part 2 of 3 - 01-29-10 I want to show even a bigger difference if you put less down. And even if you decided to put less than 10% down, because cash is king now. You can't predict even next week. And keeping in mind of some misleading rumors, that you need more than 10% down to buy a house.
  

• FHA loans vs Conventional loans - Get a bang for your buck - Large down payments aren't always the best way - Part 3 of 3 - 02-01-10 - Some great examples of having cash left over and not really affecting your monthly mortgage payment. And that you will have cash left over for emergencies. Keeping in mind that cash is king.
  

 

 

• Make sure you know about the NEW FHA loan changes : FHA loan changes for 2010 & why they changed. Reasons for these FHA changes and when they go into effect.

• And sellers, don't listen to your agents on how bad FHA loans are.

 

 

 

 

                    

                                                                                               FOLLOW ME ON FACEBOOK

 

 

- FHA Loans - USDA Loans - VA Loans -

- Energy Efficient Mortgages - 

- Conventional Loans - 203 k loans -

- Mortgages -

 

Experience & Knowledge at its BEST !!!

 

 

_________________________________________________________________________________________

For more information on FHA loans, please go to this link. The FHA Expert

For more information about the 2009 Tax Credit for First Time Homebuyers : 2009 Tax Credit

For important mortgage insight to watch for, please read : Consumers need to be aware of these Red Flags!

 

 

Copyright © 2010 by Jeff Belonger of Infinity Home Mortgage Company, Inc

 

Don’t be CASH POOR – CASH is KING

 

 

FHA loans have been used more in recent years. Many have talked negatively about FHA loans because of their high default rates as of lately. Don't be fooled by chatter that is not backed up by fact and why this is happening.  Please read : Should we ABOLISH FHA loans?

One of the main myths that I wanted to dispell in this blog post is that you don't need 20% to buy a home in today's real estate market or that you need a 720 credit score. These are bad myths and rumors. You can read about it here : Credit scores/FICO scores - I need a 700 credit score?

Yesterday, I wrote a post about comparing a FHA mortgage to a Conventional mortgage with 20% down. FHA loans vs Conventional loans - A real comparison with 20% down. - Overall, it all comes down to the borrowers needs and goals. Yet not all loan officers dig this deeply. Usually because the focus is lost when the borrower wants to know the mortgage interest rate and fees. More on that in a post on Sunday.

 

 

 

Please read these links before moving forward (the next 3) : It’s extremely important

 

Please read this question about why my conventional rates are so much higher :  Someone's question to why my conventional rates are so high.

My response : Just a basic response to why the conventional rates are much higher.

And proof that it's not just me.. all lenders need and have to follow the same pricing hits. Conventional PRICING HITS

 

 

What is the big fuss of putting 20% down other than you don't have mortgage insurance? Here is my chart from yesterday.

 

Loan comparison of 20% down between FHA loans and Conventional loans

SCENARIO # 1

 

 

 

 

 

 

 

 

 

 

 

In regards to scenario #1, this is great if you have 20% down. But is it? Please read why going with a conventional loan with 20% down still might not be your best option. 20% down comparison between FHA loans and Conventional Loans   Hint: Goals - 

 

 

Dropping the down payment by 1%, making it 19% down and not 20% down.

Scenario # 2

 

 

 

 

 

 

 

 

 

 

 

Scenario # 2 - There is no large difference except that your monthly mortgage payment is lower on a FHA loan when putting less than 20% down. **Conventional mortgage insurance is not standard as it use to be. Meaning that these figures could change depending on the insurance company, the fico score, and in some cases, where you purchase the property.**

 

 

Loan comparison of 10% down between FHA loans and Conventional loans

Scenario # 3

 

 

 

 

 

 

 

 

 

 

 

As you can see, when you put less than 20% down, and depending on your credit scores, FHA mortgages will be much cheaper in the monthly mortgage payment. I give a better description and understanding of the differences in this blog post : 10% down comparison and understanding the upfront mortgage insurance on FHA loans vs conventional loans.

My whole point to this post though is about cash, cash savings, and reserves. And in today's economy, cash is king. Let's look at it this way.

 

 

Loan comparison – Conventional loan w/20% down vs FHA loan w/10% down

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Overall, there is no true correct answer. It first must come down to how comfortable you are in your finances. But here is a clear indication that just because you put down 10% more, which is an additional $30,000, doesn't mean your payment drops as signficantly as many of you might think. (this will vary depending on loan amounts) Don't get me wrong, saving an additional $186.71 a month can be huge. But at the same time, you could keep $30,000 in your pocket instead. If you want to try and compare apples to apples, just take the difference out of the monies that you saved from your 10% down payment. Set aside $11,200 in a seperate account to lower your payment. It would still leave you with $18,794 now, after closing. 

One word of advice.... you don't have to try and pay down your mortgage as soon as possible.  Yes, this is a good security blanket for so many. But you also don't know what the future holds for you.  Besides, you could take $10,000 of your money left over and invest it in several areas that would give you a better return of 7% to 8%, especially since you are paying 5% on your mortgage. But you would need to speak to a financial consultant about this.

 

 

Summary : No matter how much cash you have or don't have, this is how your loan officer should help you understand your mortgage and financial situation. Cash can be king and be useful in unknown emergencies. Don't always fall for those commercials that scream, "don't let the banks rip you off, learn how to pay off your mortgage quickly".(you don't need these programs, such as the mortgage accelerator programs... you can do this on your own)

On another note, I am not saying that your loan officer needs to show you this exact breakdown. But it's more than just about the best interest rate and or fees. What is the best program for you based on your goals and the mortgage program. I will be talking about this over the weekend. Stay tuned. 

Knowledge is Power... And don't forget that you can still put down 3.5% with FHA loans, as opposed to conventional loans needing 5% to 10% down.

 

 

Disclaimer :  The rates are examples in today's market, aren't any form of advertising, and aren't for solicitation of new business. It's merely to educate the consumer. And the spread shown in these examples are real as in the profit margins for both sides, in order to compare apples to apples. The conventional rate also includes the penalty for the 659 credit score and down payments. This is because of the large pricing penalty for the credit score.

 

 

 

For more FHA loans vs conventional loans comparisons :

• FHA loans vs Conventional loans - A true numbers comparison with 5% down -  12-20-08 -Using a 710 credit score
  

• FHA loans vs Conventional loans - A real comparison with 5% down - 11-15-08 - Using a 659 credit score
  

• FHA Loans vs Conventional Loans - 20% down - A Rude Reality Check -  04-03-09  - Would you believe that FHA loans could be cheaper even with 20% down?  Come see why and how.

• FHA Loans vs Conventional Loans - 5% - 4 comparisons that you need to know - 05-02-09 -Comparing a FHA loan against 3 types of conventional loans with different types of monthly mortgage insurance. Guess who won while still using a 679 credit score.....

• FHA loans vs Conventional loans - Knowing the true comparisons - 07-10-09  - A great comparison with a 679 credit score and 5% down.  This example will still show that even with a better than average credit score, that FHA loans are still better in many cases.

• FHA loans vs Conventional loans - Things you need to know with 10% down, especially in regards to Condos - 09-19-09 -

 

Donw Payment Series - A Must Read -

• FHA loans vs Conventional loans - A real comparison with 20% down - Part 1 of 3 - 01-28-10 - Not much of a difference, unless you stay in the house for more than 5 years. Hence why a loan officer should be talking about your goals. So very important, yet many dont ask.

• FHA loans vs Conventional loans - Don't be cash poor!! - Part 2 of 3 - 01-29-10 I want to show even a bigger difference if you put less down. And even if you decided to put less than 10% down, because cash is king now. You can't predict even next week. And keeping in mind of some misleading rumors, that you need more than 10% down to buy a house.
  

• FHA loans vs Conventional loans - Get a bang for your buck - Large down payments aren't always the best way - Part 3 of 3 - 02-03-10 - Some great examples of having cash left over and not really affecting your monthly mortgage payment. And that you will have cash left over for emergencies. Keeping in mind that cash is king.

 

 

• Make sure you know about the NEW FHA loan changes : FHA loan changes for 2010 & why they changed. Reasons for these FHA changes and when they go into effect.

• And sellers, don't listen to your agents on how bad FHA loans are.

 

 

 

                    

                                                                                               FOLLOW ME ON FACEBOOK

 

 

- FHA Loans - USDA Loans - VA Loans -

- Energy Efficient Mortgages - 

- Conventional Loans - 203 k loans -

- Mortgages -

 

Experience & Knowledge at its BEST !!!

 

 

_________________________________________________________________________________________

For more information on FHA loans, please go to this link. The FHA Expert

For more information about the 2009 Tax Credit for First Time Homebuyers : 2009 Tax Credit

For important mortgage insight to watch for, please read : Consumers need to be aware of these Red Flags!

 

 

Copyright © 2010 by Jeff Belonger of Infinity Home Mortgage Company, Inc